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, 2014 ITEM 1. REPORTS TO STOCKHOLDERS. [LOGO] ANNUAL REPORT year ended: October 31, 2014 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 2014 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 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................................... 37 Schedules of Investments/Summary Schedules of Portfolio Holdings Enhanced U.S. Large Company Portfolio.......................... 40 U.S. Large Cap Equity Portfolio................................ 43 U.S. Large Cap Value Portfolio................................. 46 U.S. Targeted Value Portfolio.................................. 47 U.S. Small Cap Value Portfolio................................. 50 U.S. Core Equity 1 Portfolio................................... 53 U.S. Core Equity 2 Portfolio................................... 56 U.S. Vector Equity Portfolio................................... 59 U.S. Small Cap Portfolio....................................... 62 U.S. Micro Cap Portfolio....................................... 65 DFA Real Estate Securities Portfolio........................... 68 Large Cap International Portfolio.............................. 70 International Core Equity Portfolio............................ 74 International Small Company Portfolio.......................... 79 Japanese Small Company Portfolio............................... 80 Asia Pacific Small Company Portfolio........................... 80 United Kingdom Small Company Portfolio......................... 81 Continental Small Company Portfolio............................ 81 DFA International Real Estate Securities Portfolio............. 82 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 World Core Equity Portfolio.................................... 98 Selectively Hedged Global Equity Portfolio..................... 99 Emerging Markets Portfolio..................................... 100 Emerging Markets Small Cap Portfolio........................... 100 Emerging Markets Value Portfolio............................... 100 Emerging Markets Core Equity Portfolio......................... 101 Statements of Assets and Liabilities............................... 105 Statements of Operations........................................... 112 Statements of Changes in Net Assets................................ 119 Financial Highlights............................................... 129 Notes to Financial Statements...................................... 148 Report of Independent Registered Public Accounting Firm............ 176 i TABLE OF CONTENTS CONTINUED Page ---- DFA Investment Dimensions Group Inc. - DFA Commodity Strategy Portfolio Performance Charts................................................. 177 Management's Discussion and Analysis............................... 178 Consolidated Disclosure of Fund Expenses........................... 179 Consolidated Disclosure of Portfolio Holdings...................... 180 Consolidated Schedule of Investments............................... 181 Consolidated Statement of Assets and Liabilities................... 186 Consolidated Statement of Operations............................... 187 Consolidated Statements of Changes in Net Assets................... 188 Consolidated Financial Highlights.................................. 189 Consolidated Notes to Financial Statements......................... 190 Report of Independent Registered Public Accounting Firm............ 202 Dimensional Investment Group Inc. Performance Charts................................................. 203 Management's Discussion and Analysis............................... 205 Disclosure of Fund Expenses........................................ 208 Disclosure of Portfolio Holdings................................... 210 Schedule of Investments/Summary Schedule of Portfolio Holdings DFA International Value Portfolio.............................. 211 U.S. Large Company Portfolio................................... 212 Statements of Assets and Liabilities............................... 215 Statements of Operations........................................... 216 Statements of Changes in Net Assets................................ 217 Financial Highlights............................................... 218 Notes to Financial Statements...................................... 220 Report of Independent Registered Public Accounting Firm............ 230 The DFA Investment Trust Company Performance Charts................................................. 231 Management's Discussion and Analysis............................... 236 Disclosure of Fund Expenses........................................ 241 Disclosure of Portfolio Holdings................................... 243 Summary Schedules of Portfolio Holdings The U.S. Large Cap Value Series................................ 245 The DFA International Value Series............................. 248 The Japanese Small Company Series.............................. 252 The Asia Pacific Small Company Series.......................... 255 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............ 316 Fund Management....................................................... 317 Voting Proxies on Fund Portfolio Securities........................... 328 Notice to Shareholders................................................ 329 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 CAD Canadian Dollars 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. (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. 1 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- ENHANCED U.S. LARGE COMPANY PORTFOLIO VS. S&P 500(R) INDEX October 31, 2004-October 31, 2014 [CHART] Enhanced U.S. Large Company Portfolio S&P 500/R/Index --------------------------------- ------------------ 10/31/2004 $10,000 $10,000 11/30/2004 10,366 10,405 12/31/2004 10,717 10,759 1/31/2005 10,437 10,496 2/28/2005 10,638 10,717 3/31/2005 10,425 10,527 4/30/2005 10,246 10,328 5/31/2005 10,571 10,656 6/30/2005 10,582 10,672 7/31/2005 10,931 11,069 8/31/2005 10,852 10,968 9/30/2005 10,919 11,056 10/31/2005 10,693 10,872 11/30/2005 11,100 11,283 12/31/2005 11,101 11,287 1/31/2006 11,399 11,586 2/28/2006 11,399 11,618 3/31/2006 11,542 11,762 4/30/2006 11,680 11,920 5/31/2006 11,335 11,577 6/30/2006 11,346 11,593 7/31/2006 11,415 11,664 8/31/2006 11,680 11,942 9/30/2006 11,979 12,250 10/31/2006 12,359 12,649 11/30/2006 12,600 12,889 12/31/2006 12,769 13,070 1/31/2007 12,950 13,268 2/28/2007 12,696 13,008 3/31/2007 12,841 13,154 4/30/2007 13,397 13,737 5/31/2007 13,856 14,216 6/30/2007 13,614 13,980 7/31/2007 13,204 13,546 8/31/2007 13,385 13,749 9/30/2007 13,883 14,264 10/31/2007 14,106 14,490 11/30/2007 13,512 13,885 12/31/2007 13,416 13,788 1/31/2008 12,575 12,961 2/29/2008 12,168 12,540 3/31/2008 12,114 12,486 4/30/2008 12,683 13,094 5/31/2008 12,860 13,264 6/30/2008 11,767 12,146 7/31/2008 11,671 12,044 8/31/2008 11,850 12,218 9/30/2008 10,759 11,129 10/31/2008 8,924 9,260 11/30/2008 8,317 8,596 12/31/2008 8,415 8,687 1/31/2009 7,710 7,955 2/28/2009 6,867 7,108 3/31/2009 7,492 7,730 4/30/2009 8,230 8,470 5/31/2009 8,723 8,944 6/30/2009 8,753 8,962 7/31/2009 9,446 9,640 8/31/2009 9,815 9,988 9/30/2009 10,201 10,360 10/31/2009 10,015 10,168 11/30/2009 10,649 10,778 12/31/2009 10,832 10,986 1/31/2010 10,460 10,591 2/28/2010 10,801 10,919 3/31/2010 11,437 11,578 4/30/2010 11,623 11,760 5/31/2010 10,708 10,821 6/30/2010 10,157 10,255 7/31/2010 10,874 10,973 8/31/2010 10,391 10,478 9/30/2010 11,321 11,413 10/31/2010 11,758 11,847 11/30/2010 11,742 11,849 12/31/2010 12,528 12,641 1/31/2011 12,841 12,940 2/28/2011 13,263 13,384 3/31/2011 13,263 13,389 4/30/2011 13,685 13,786 5/31/2011 13,560 13,629 6/30/2011 13,326 13,402 7/31/2011 13,076 13,130 8/31/2011 12,356 12,417 9/30/2011 11,480 11,544 10/31/2011 12,747 12,805 11/30/2011 12,669 12,777 12/31/2011 12,810 12,908 1/31/2012 13,411 13,486 2/29/2012 13,996 14,069 3/31/2012 14,471 14,532 4/30/2012 14,392 14,441 5/31/2012 13,522 13,573 6/30/2012 14,089 14,132 7/31/2012 14,327 14,329 8/31/2012 14,660 14,652 9/30/2012 15,037 15,030 10/31/2012 14,766 14,753 11/30/2012 14,862 14,838 12/31/2012 14,983 14,973 1/31/2013 15,751 15,749 2/28/2013 15,975 15,963 3/31/2013 16,566 16,561 4/30/2013 16,886 16,881 5/31/2013 17,270 17,275 6/30/2013 17,005 17,043 7/31/2013 17,903 17,911 8/31/2013 17,374 17,392 9/30/2013 17,919 17,937 10/31/2013 18,752 18,762 11/30/2013 19,329 19,334 12/31/2013 19,794 19,823 1/31/2014 19,137 19,138 2/28/2014 20,003 20,013 3/31/2014 20,157 20,181 4/30/2014 20,318 20,331 5/31/2014 20,816 20,808 6/30/2014 21,216 21,238 7/31/2014 20,911 20,945 Past performance is not predictive of 8/31/2014 21,764 21,783 future performance. 9/30/2014 21,442 21,477 The returns shown do not reflect the 10/31/2014 21,973 22,002 deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. ------------------------------------------------------------ The S&P data are provided by 17.18% 17.02% 8.19% Standard & Poor's Index Services Group. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- U.S. LARGE CAP EQUITY PORTFOLIO VS. RUSSELL 1000(R) INDEX June 25, 2013-October 31, 2014 [CHART] U.S. Large Cap Equity Portfolio Russell 1000/R/ Index ----------------- --------------------- 6/25/2013 $10,000 $10,000 6/30/2013 10,020 10,130 7/31/2013 10,550 10,672 8/31/2013 10,270 10,378 9/30/2013 10,630 10,740 10/31/2013 11,101 11,213 11/30/2013 11,452 11,527 12/31/2013 11,757 11,838 1/31/2014 11,333 11,460 2/28/2014 11,878 12,004 3/31/2014 11,985 12,080 4/30/2014 12,046 12,137 5/31/2014 12,319 12,416 6/30/2014 12,623 12,699 Past performance is not predictive of 7/31/2014 12,410 12,493 future performance. 8/31/2014 12,928 13,010 The returns shown do not reflect the 9/30/2014 12,654 12,781 deduction of taxes that a shareholder 10/31/2014 12,899 13,094 would pay on fund distributions or the Average Annual One Since redemption of fund shares. Total Return Year Inception Russell data copyright (C) Russell --------------------------------------------------- Investment Group 1995-2014, all rights 16.19% 20.74% reserved. -------------------------------------------------------------------------------- 2 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- U.S. LARGE CAP VALUE PORTFOLIO VS. RUSSELL 1000(R) VALUE INDEX October 31, 2004-October 31, 2014 [CHART] U.S. Large Cap Value Portfolio Russell 1000/R/ Value Index ------------------------------- --------------------------- 10/31/2004 $10,000 $10,000 11/30/2004 10,655 10,506 12/31/2004 11,079 10,858 1/31/2005 10,803 10,665 2/28/2005 11,129 11,018 3/31/2005 11,100 10,867 4/30/2005 10,718 10,672 5/31/2005 11,177 10,929 6/30/2005 11,405 11,049 7/31/2005 11,971 11,368 8/31/2005 11,871 11,319 9/30/2005 12,054 11,478 10/31/2005 11,731 11,186 11/30/2005 12,199 11,552 12/31/2005 12,214 11,621 1/31/2006 12,792 12,072 2/28/2006 12,747 12,146 3/31/2006 12,972 12,311 4/30/2006 13,337 12,624 5/31/2006 13,090 12,305 6/30/2006 13,203 12,383 7/31/2006 13,011 12,684 8/31/2006 13,220 12,897 9/30/2006 13,586 13,154 10/31/2006 14,124 13,584 11/30/2006 14,390 13,894 12/31/2006 14,679 14,206 1/31/2007 15,104 14,388 2/28/2007 14,877 14,164 3/31/2007 14,974 14,383 4/30/2007 15,609 14,914 5/31/2007 16,250 15,452 6/30/2007 15,986 15,091 7/31/2007 14,993 14,393 8/31/2007 14,707 14,554 9/30/2007 15,087 15,054 10/31/2007 15,169 15,056 11/30/2007 14,319 14,320 12/31/2007 14,273 14,182 1/31/2008 13,726 13,614 2/29/2008 13,301 13,043 3/31/2008 13,177 12,945 4/30/2008 14,004 13,577 5/31/2008 14,337 13,555 6/30/2008 12,766 12,257 7/31/2008 12,623 12,213 8/31/2008 12,871 12,421 9/30/2008 11,713 11,508 10/31/2008 9,074 9,516 11/30/2008 8,184 8,834 12/31/2008 8,450 8,956 1/31/2009 7,448 7,926 2/28/2009 6,402 6,867 3/31/2009 7,031 7,455 4/30/2009 8,169 8,254 5/31/2009 8,796 8,764 6/30/2009 8,689 8,699 7/31/2009 9,508 9,411 8/31/2009 10,155 9,904 9/30/2009 10,597 10,286 10/31/2009 10,141 9,971 11/30/2009 10,712 10,533 12/31/2009 11,001 10,720 1/31/2010 10,743 10,418 2/28/2010 11,207 10,747 3/31/2010 12,081 11,447 4/30/2010 12,463 11,743 5/31/2010 11,396 10,778 6/30/2010 10,534 10,171 7/31/2010 11,358 10,860 8/31/2010 10,664 10,395 9/30/2010 11,709 11,201 10/31/2010 12,140 11,538 11/30/2010 12,049 11,476 12/31/2010 13,220 12,382 1/31/2011 13,647 12,662 2/28/2011 14,383 13,129 3/31/2011 14,449 13,181 4/30/2011 14,811 13,532 5/31/2011 14,600 13,389 6/30/2011 14,335 13,115 7/31/2011 13,680 12,680 8/31/2011 12,523 11,888 9/30/2011 11,258 10,990 10/31/2011 12,812 12,248 11/30/2011 12,706 12,185 12/31/2011 12,805 12,430 1/31/2012 13,441 12,901 2/29/2012 14,217 13,415 3/31/2012 14,478 13,813 4/30/2012 14,175 13,672 5/31/2012 13,169 12,870 6/30/2012 13,875 13,509 7/31/2012 14,010 13,649 8/31/2012 14,563 13,945 9/30/2012 15,095 14,388 10/31/2012 15,136 14,317 11/30/2012 15,169 14,311 12/31/2012 15,629 14,607 1/31/2013 16,714 15,556 2/28/2013 16,926 15,779 3/31/2013 17,739 16,405 4/30/2013 17,917 16,653 5/31/2013 18,657 17,080 6/30/2013 18,442 16,929 7/31/2013 19,548 17,844 8/31/2013 18,964 17,167 9/30/2013 19,524 17,597 10/31/2013 20,511 18,367 11/30/2013 21,367 18,880 12/31/2013 21,931 19,358 1/31/2014 21,064 18,670 2/28/2014 21,772 19,478 3/31/2014 22,282 19,943 4/30/2014 22,428 20,132 5/31/2014 22,915 20,427 6/30/2014 23,540 20,961 Past performance is not predictive of 7/31/2014 23,365 20,603 future performance. 8/31/2014 24,106 21,361 The returns shown do not reflect the 9/30/2014 23,505 20,920 deduction of taxes that a shareholder 10/31/2014 23,688 21,390 would pay on fund distributions or the Average Annual One Five Ten redemption of fund shares. Total Return Year Years Years Russell data copyright (C) Russell -------------------------------------------------------------- Investment Group 1995-2014, all rights 15.49% 18.49% 9.01% reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- U.S. TARGETED VALUE PORTFOLIO -- CLASS R1 VS. RUSSELL 2000(R) VALUE INDEX January 31, 2008-October 31, 2014 [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 8/31/2013 15,941 14,443 9/30/2013 16,826 15,277 10/31/2013 17,555 15,773 11/30/2013 18,331 16,389 12/31/2013 18,804 16,698 1/31/2014 17,913 16,052 2/28/2014 18,845 16,786 3/31/2014 19,217 16,994 4/30/2014 18,862 16,557 5/31/2014 19,044 16,662 6/30/2014 19,852 17,399 Past performance is not predictive of 7/31/2014 18,859 16,347 future performance. 8/31/2014 19,819 17,058 The returns shown do not reflect the 9/30/2014 18,629 15,907 deduction of taxes that a shareholder 10/31/2014 19,217 17,018 would pay on fund distributions or the Average Annual One Five Since redemption of fund shares. Total Return Year Years Inception Russell data copyright (C) Russell -------------------------------------------------------------- Investment Group 1995-2014, all rights 9.47% 18.55% 10.16% 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, 2014 [CHART] U.S. Targeted Value Portfolio - Class R2 Russell 2000/R/ Value Index ------------------------ --------------------------- 6/30/2008 $10,000 10,000 7/31/2008 10,260 10,513 8/31/2008 10,720 11,012 9/30/2008 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 1/31/2009 6,272 6,757 2/28/2009 5,443 5,818 3/31/2009 6,038 6,335 4/30/2009 7,216 7,340 5/31/2009 7,459 7,499 6/30/2009 7,436 7,475 7/31/2009 8,321 8,340 8/31/2009 8,768 8,735 9/30/2009 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 1/31/2010 9,343 9,227 2/28/2010 9,865 9,654 3/31/2010 10,685 10,458 4/30/2010 11,453 11,189 5/31/2010 10,419 10,244 6/30/2010 9,434 9,350 7/31/2010 10,161 10,017 8/31/2010 9,341 9,264 9/30/2010 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 1/31/2011 12,396 11,841 2/28/2011 13,085 12,442 3/31/2011 13,336 12,615 4/30/2011 13,544 12,820 5/31/2011 13,211 12,590 6/30/2011 12,926 12,281 7/31/2011 12,466 11,875 8/31/2011 11,214 10,826 9/30/2011 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 1/31/2012 12,209 11,927 2/29/2012 12,644 12,104 3/31/2012 12,877 12,480 4/30/2012 12,667 12,299 5/31/2012 11,721 11,548 6/30/2012 12,189 12,104 7/31/2012 12,129 11,981 8/31/2012 12,686 12,350 9/30/2012 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 1/31/2013 14,611 13,989 2/28/2013 14,861 14,149 3/31/2013 15,577 14,738 4/30/2013 15,424 14,723 5/31/2013 16,181 15,163 6/30/2013 16,064 15,102 7/31/2013 17,185 16,072 8/31/2013 16,548 15,362 9/30/2013 17,472 16,248 10/31/2013 18,223 16,777 11/30/2013 19,022 17,431 12/31/2013 19,515 17,760 1/31/2014 18,587 17,073 2/28/2014 19,549 17,854 3/31/2014 19,932 18,075 4/30/2014 19,563 17,610 5/31/2014 19,752 17,722 6/30/2014 20,586 18,506 7/31/2014 19,553 17,387 Past performance is not predictive of 8/31/2014 20,551 18,143 future performance. 9/30/2014 19,315 16,919 The returns shown do not reflect the 10/31/2014 19,918 18,101 deduction of taxes that a shareholder would pay on fund distributions or the Average Annual One Five Since redemption of fund shares. Total Return Year Years Inception Russell data copyright (C) Russell --------------------------------------------------------------- Investment Group 1995-2014, all rights 9.30% 18.33% 11.49% reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- U.S. TARGETED VALUE PORTFOLIO -- INSTITUTIONAL CLASS VS. RUSSELL 2000(R) VALUE INDEX October 31, 2004-October 31, 2014 [CHART] U.S. Targeted Value Portfolio - Institutional Class Russell 2000/R/ Value Index --------------------------------- --------------------------- 10/31/2004 $10,000 $10,000 11/30/2004 10,920 10,887 12/31/2004 11,259 11,147 1/31/2005 10,901 10,716 2/28/2005 11,203 10,929 3/31/2005 11,098 10,704 4/30/2005 10,346 10,152 5/31/2005 11,035 10,771 6/30/2005 11,468 11,247 7/31/2005 12,171 11,887 8/31/2005 11,981 11,614 9/30/2005 12,023 11,595 10/31/2005 11,705 11,304 11/30/2005 12,249 11,762 12/31/2005 12,301 11,672 1/31/2006 13,288 12,637 2/28/2006 13,149 12,636 3/31/2006 13,693 13,248 4/30/2006 13,872 13,284 5/31/2006 13,390 12,734 6/30/2006 13,465 12,890 7/31/2006 13,052 12,711 8/31/2006 13,348 13,091 9/30/2006 13,484 13,219 10/31/2006 14,150 13,892 11/30/2006 14,635 14,288 12/31/2006 14,724 14,412 1/31/2007 15,032 14,628 2/28/2007 14,955 14,449 3/31/2007 15,069 14,623 4/30/2007 15,377 14,775 5/31/2007 16,043 15,316 6/30/2007 15,831 14,959 7/31/2007 14,684 13,686 8/31/2007 14,641 13,960 9/30/2007 14,685 14,023 10/31/2007 14,720 14,176 11/30/2007 13,670 13,114 12/31/2007 13,518 13,003 1/31/2008 12,872 12,470 2/29/2008 12,544 11,974 3/31/2008 12,651 12,155 4/30/2008 13,068 12,539 5/31/2008 13,672 12,968 6/30/2008 12,289 11,724 7/31/2008 12,609 12,325 8/31/2008 13,178 12,910 9/30/2008 12,344 12,305 10/31/2008 9,668 9,847 11/30/2008 8,411 8,707 12/31/2008 8,952 9,242 1/31/2009 7,721 7,922 2/28/2009 6,707 6,822 3/31/2009 7,438 7,427 4/30/2009 8,888 8,606 5/31/2009 9,195 8,792 6/30/2009 9,163 8,764 7/31/2009 10,255 9,778 8/31/2009 10,806 10,240 9/30/2009 11,407 10,754 10/31/2009 10,584 10,040 11/30/2009 10,936 10,359 12/31/2009 11,805 11,144 1/31/2010 11,533 10,817 2/28/2010 12,177 11,319 3/31/2010 13,190 12,260 4/30/2010 14,144 13,118 5/31/2010 12,873 12,010 6/30/2010 11,650 10,961 7/31/2010 12,558 11,744 8/31/2010 11,541 10,861 9/30/2010 12,960 12,027 10/31/2010 13,443 12,493 11/30/2010 13,980 12,810 12/31/2010 15,230 13,875 1/31/2011 15,330 13,882 2/28/2011 16,200 14,587 3/31/2011 16,512 14,790 4/30/2011 16,768 15,030 5/31/2011 16,356 14,761 6/30/2011 16,005 14,398 7/31/2011 15,445 13,922 8/31/2011 13,895 12,692 9/30/2011 12,170 11,306 10/31/2011 14,082 12,935 11/30/2011 14,128 12,909 12/31/2011 14,272 13,111 1/31/2012 15,137 13,983 2/29/2012 15,686 14,191 3/31/2012 15,981 14,631 4/30/2012 15,720 14,419 5/31/2012 14,547 13,538 6/30/2012 15,139 14,191 7/31/2012 15,065 14,046 8/31/2012 15,756 14,479 9/30/2012 16,257 14,995 10/31/2012 16,164 14,807 11/30/2012 16,435 14,852 12/31/2012 17,010 15,478 1/31/2013 18,170 16,401 2/28/2013 18,480 16,588 3/31/2013 19,380 17,278 4/30/2013 19,190 17,262 5/31/2013 20,140 17,777 6/30/2013 19,996 17,705 7/31/2013 21,400 18,843 8/31/2013 20,608 18,010 9/30/2013 21,760 19,049 10/31/2013 22,694 19,669 11/30/2013 23,708 20,436 12/31/2013 24,329 20,821 1/31/2014 23,175 20,016 2/28/2014 24,371 20,932 3/31/2014 24,857 21,191 4/30/2014 24,408 20,646 5/31/2014 24,643 20,777 6/30/2014 25,685 21,696 7/31/2014 24,409 20,384 Past performance is not predictive of 8/31/2014 25,652 21,270 future performance. 9/30/2014 24,117 19,835 The returns shown do not reflect the 10/31/2014 24,869 21,221 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 Russell data copyright (C) Russell --------------------------------------------------------------- Investment Group 1995-2014, all 9.58% 18.63% 9.54% 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, 2004-October 31, 2014 [CHART] U.S. Small Cap Value Portfolio Russell 2000/R/ Value Index -------------------------------- ----------------------------- 10/31/2004 $10,000 $10,000 11/30/2004 11,000 10,887 12/31/2004 11,399 11,147 1/31/2005 10,991 10,716 2/28/2005 11,288 10,929 3/31/2005 11,068 10,704 4/30/2005 10,262 10,152 5/31/2005 10,945 10,771 6/30/2005 11,402 11,247 7/31/2005 12,213 11,887 8/31/2005 12,009 11,614 9/30/2005 12,105 11,595 10/31/2005 11,751 11,304 11/30/2005 12,245 11,762 12/31/2005 12,286 11,672 1/31/2006 13,370 12,637 2/28/2006 13,324 12,636 3/31/2006 14,136 13,248 4/30/2006 14,275 13,284 5/31/2006 13,649 12,734 6/30/2006 13,656 12,890 7/31/2006 13,144 12,711 8/31/2006 13,400 13,091 9/30/2006 13,560 13,219 10/31/2006 14,296 13,892 11/30/2006 14,730 14,288 12/31/2006 14,934 14,412 1/31/2007 15,263 14,628 2/28/2007 15,227 14,449 3/31/2007 15,393 14,623 4/30/2007 15,671 14,775 5/31/2007 16,242 15,316 6/30/2007 15,991 14,959 7/31/2007 14,769 13,686 8/31/2007 14,657 13,960 9/30/2007 14,617 14,023 10/31/2007 14,780 14,176 11/30/2007 13,491 13,114 12/31/2007 13,329 13,003 1/31/2008 12,804 12,470 2/29/2008 12,440 11,974 3/31/2008 12,545 12,155 4/30/2008 12,753 12,539 5/31/2008 13,281 12,968 6/30/2008 11,939 11,724 7/31/2008 12,186 12,325 8/31/2008 12,692 12,910 9/30/2008 11,817 12,305 10/31/2008 9,201 9,847 11/30/2008 8,006 8,707 12/31/2008 8,426 9,242 1/31/2009 7,223 7,922 2/28/2009 6,305 6,822 3/31/2009 6,961 7,427 4/30/2009 8,329 8,606 5/31/2009 8,597 8,792 6/30/2009 8,627 8,764 7/31/2009 9,787 9,778 8/31/2009 10,290 10,240 9/30/2009 10,942 10,754 10/31/2009 10,118 10,040 11/30/2009 10,433 10,359 12/31/2009 11,259 11,144 1/31/2010 10,903 10,817 2/28/2010 11,574 11,319 3/31/2010 12,600 12,260 4/30/2010 13,621 13,118 5/31/2010 12,273 12,010 6/30/2010 11,028 10,961 7/31/2010 11,986 11,744 8/31/2010 10,982 10,861 9/30/2010 12,402 12,027 10/31/2010 12,919 12,493 11/30/2010 13,500 12,810 12/31/2010 14,738 13,875 1/31/2011 14,784 13,882 2/28/2011 15,712 14,587 3/31/2011 16,035 14,790 4/30/2011 16,237 15,030 5/31/2011 15,730 14,761 6/30/2011 15,445 14,398 7/31/2011 15,001 13,922 8/31/2011 13,414 12,692 9/30/2011 11,727 11,306 10/31/2011 13,582 12,935 11/30/2011 13,490 12,909 12/31/2011 13,626 13,111 1/31/2012 14,638 13,983 2/29/2012 15,103 14,191 3/31/2012 15,450 14,631 4/30/2012 15,203 14,419 5/31/2012 14,120 13,538 6/30/2012 14,739 14,191 7/31/2012 14,704 14,046 8/31/2012 15,323 14,479 9/30/2012 15,831 14,995 10/31/2012 15,701 14,807 11/30/2012 15,991 14,852 12/31/2012 16,586 15,478 1/31/2013 17,675 16,401 2/28/2013 17,985 16,588 3/31/2013 18,867 17,278 4/30/2013 18,658 17,262 5/31/2013 19,664 17,777 6/30/2013 19,527 17,705 7/31/2013 20,959 18,843 8/31/2013 20,084 18,010 9/30/2013 21,137 19,049 10/31/2013 21,880 19,669 11/30/2013 22,990 20,436 12/31/2013 23,616 20,821 1/31/2014 22,402 20,016 2/28/2014 23,623 20,932 3/31/2014 23,903 21,191 4/30/2014 23,443 20,646 5/31/2014 23,636 20,777 6/30/2014 24,685 21,696 7/31/2014 23,262 20,384 8/31/2014 24,618 21,270 9/30/2014 22,900 19,835 10/31/2014 23,957 21,221 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 Russell data copyright (C) Russell --------------------------------------------------------------- Investment Group 1995-2014, all 9.49% 18.81% 9.13% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- U.S. CORE EQUITY 1 PORTFOLIO VS. RUSSELL 3000(R) INDEX September 15, 2005-October 31, 2014 [CHART] U.S. Core Equity 1 Portfolio Russell 3000/R/ Index ------------------------------- --------------------- 9/15/2005 $10,000 $10,000 9/30/2005 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 1/31/2006 10,636 10,571 2/28/2006 10,656 10,590 3/31/2006 10,893 10,773 4/30/2006 11,024 10,890 5/31/2006 10,641 10,541 6/30/2006 10,644 10,560 7/31/2006 10,532 10,550 8/31/2006 10,785 10,808 9/30/2006 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 1/31/2007 12,053 12,062 2/28/2007 11,920 11,864 3/31/2007 12,039 11,988 4/30/2007 12,489 12,467 5/31/2007 12,970 12,921 6/30/2007 12,760 12,679 7/31/2007 12,226 12,247 8/31/2007 12,349 12,423 9/30/2007 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 1/31/2008 11,465 11,691 2/29/2008 11,123 11,328 3/31/2008 11,043 11,261 4/30/2008 11,594 11,824 5/31/2008 11,895 12,067 6/30/2008 10,877 11,071 7/31/2008 10,877 10,983 8/31/2008 11,117 11,153 9/30/2008 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 1/31/2009 7,020 7,148 2/28/2009 6,269 6,399 3/31/2009 6,845 6,959 4/30/2009 7,674 7,692 5/31/2009 8,036 8,102 6/30/2009 8,072 8,130 7/31/2009 8,755 8,763 8/31/2009 9,076 9,076 9/30/2009 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 1/31/2010 9,697 9,653 2/28/2010 10,074 9,980 3/31/2010 10,744 10,609 4/30/2010 11,078 10,838 5/31/2010 10,204 9,982 6/30/2010 9,546 9,408 7/31/2010 10,229 10,061 8/31/2010 9,677 9,587 9/30/2010 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 1/31/2011 12,276 11,965 2/28/2011 12,768 12,400 3/31/2011 12,903 12,456 4/30/2011 13,254 12,827 5/31/2011 13,068 12,681 6/30/2011 12,826 12,453 7/31/2011 12,463 12,168 8/31/2011 11,594 11,438 9/30/2011 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 1/31/2012 12,603 12,426 2/29/2012 13,148 12,952 3/31/2012 13,496 13,351 4/30/2012 13,363 13,264 5/31/2012 12,483 12,444 6/30/2012 12,945 12,931 7/31/2012 13,034 13,059 8/31/2012 13,415 13,385 9/30/2012 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 1/31/2013 14,830 14,527 2/28/2013 15,012 14,719 3/31/2013 15,627 15,296 4/30/2013 15,797 15,546 5/31/2013 16,319 15,913 6/30/2013 16,154 15,707 7/31/2013 17,089 16,567 8/31/2013 16,610 16,105 9/30/2013 17,294 16,704 10/31/2013 18,003 17,413 11/30/2013 18,586 17,918 12/31/2013 19,099 18,391 1/31/2014 18,440 17,810 2/28/2014 19,329 18,655 3/31/2014 19,485 18,754 4/30/2014 19,438 18,777 5/31/2014 19,821 19,187 6/30/2014 20,394 19,668 Past performance is not predictive of 7/31/2014 19,871 19,280 future performance. 8/31/2014 20,719 20,089 The returns shown do not reflect the 9/30/2014 20,151 19,670 deduction of taxes that a shareholder 10/31/2014 20,653 20,211 would pay on fund distributions or the Average Annual One Five Since redemption of fund shares. Total Return Year Years Inception Russell data copyright (C) Russell --------------------------------------------------------- Investment Group 1995-2014, all rights 14.72% 17.63% 8.27% 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, 2014 [CHART] U.S. Core Equity 2 Portfolio Russell 3000/R/ Index ------------------------------- ------------------------- 9/15/2005 $10,000 $10,000 9/30/2005 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 1/31/2006 10,739 10,571 2/28/2006 10,759 10,590 3/31/2006 11,016 10,773 4/30/2006 11,177 10,890 5/31/2006 10,774 10,541 6/30/2006 10,766 10,560 7/31/2006 10,645 10,550 8/31/2006 10,887 10,808 9/30/2006 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 1/31/2007 12,212 12,062 2/28/2007 12,090 11,864 3/31/2007 12,218 11,988 4/30/2007 12,637 12,467 5/31/2007 13,148 12,921 6/30/2007 12,936 12,679 7/31/2007 12,331 12,247 8/31/2007 12,444 12,423 9/30/2007 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 1/31/2008 11,428 11,691 2/29/2008 11,066 11,328 3/31/2008 10,955 11,261 4/30/2008 11,505 11,824 5/31/2008 11,826 12,067 6/30/2008 10,757 11,071 7/31/2008 10,788 10,983 8/31/2008 11,028 11,153 9/30/2008 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 1/31/2009 6,815 7,148 2/28/2009 6,022 6,399 3/31/2009 6,615 6,959 4/30/2009 7,539 7,692 5/31/2009 7,900 8,102 6/30/2009 7,889 8,130 7/31/2009 8,603 8,763 8/31/2009 8,955 9,076 9/30/2009 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 1/31/2010 9,524 9,653 2/28/2010 9,922 9,980 3/31/2010 10,631 10,609 4/30/2010 11,018 10,838 5/31/2010 10,146 9,982 6/30/2010 9,432 9,408 7/31/2010 10,124 10,061 8/31/2010 9,519 9,587 9/30/2010 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 1/31/2011 12,197 11,965 2/28/2011 12,743 12,400 3/31/2011 12,897 12,456 4/30/2011 13,192 12,827 5/31/2011 12,984 12,681 6/30/2011 12,729 12,453 7/31/2011 12,302 12,168 8/31/2011 11,370 11,438 9/30/2011 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 1/31/2012 12,371 12,426 2/29/2012 12,902 12,952 3/31/2012 13,213 13,351 4/30/2012 13,080 13,264 5/31/2012 12,182 12,444 6/30/2012 12,663 12,931 7/31/2012 12,730 13,059 8/31/2012 13,131 13,385 9/30/2012 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 1/31/2013 14,711 14,527 2/28/2013 14,892 14,719 3/31/2013 15,517 15,296 4/30/2013 15,631 15,546 5/31/2013 16,223 15,913 6/30/2013 16,069 15,707 7/31/2013 17,040 16,567 8/31/2013 16,514 16,105 9/30/2013 17,220 16,704 10/31/2013 17,920 17,413 11/30/2013 18,528 17,918 12/31/2013 19,060 18,391 1/31/2014 18,350 17,810 2/28/2014 19,211 18,655 3/31/2014 19,435 18,754 4/30/2014 19,341 18,777 5/31/2014 19,680 19,187 6/30/2014 20,303 19,668 7/31/2014 19,740 19,280 Past performance is not predictive of 8/31/2014 20,560 20,089 future performance. 9/30/2014 19,907 19,670 The returns shown do not reflect the 10/31/2014 20,389 20,211 deduction of taxes that a shareholder would pay on fund distributions or the Average Annual One Five Since redemption of fund shares. Total Return Year Years Inception Russell data copyright (C) Russell ------------------------------------------------------------ Investment Group 1995-2014, all rights 13.78% 17.79% 8.12% reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- U.S. VECTOR EQUITY PORTFOLIO VS. RUSSELL 3000(R) INDEX December 30, 2005-October 31, 2014 LOGO 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 Since redemption of fund shares. Total Return Year Years Inception Russell data copyright (C) Russell ---------------------------------------- Investment Group 1995-2014, all rights 11.91% 18.08% 7.99% reserved. -------------------------------------------------------------------------------- 6 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- U.S. SMALL CAP PORTFOLIO VS. RUSSELL 2000(R) INDEX October 31, 2004-October 31, 2014 [CHART] U.S. Small Cap Portfolio Russell 2000/R/ Index ----------------------------- ----------------------- 10/31/2004 $10,000 $10,000 11/30/2004 10,875 10,867 12/31/2004 11,252 11,189 1/31/2005 10,810 10,722 2/28/2005 11,000 10,903 3/31/2005 10,682 10,591 4/30/2005 10,015 9,985 5/31/2005 10,705 10,638 6/30/2005 11,109 11,048 7/31/2005 11,869 11,748 8/31/2005 11,702 11,531 9/30/2005 11,777 11,567 10/31/2005 11,413 11,208 11/30/2005 11,967 11,752 12/31/2005 11,937 11,698 1/31/2006 13,022 12,747 2/28/2006 12,997 12,712 3/31/2006 13,593 13,329 4/30/2006 13,624 13,326 5/31/2006 12,882 12,578 6/30/2006 12,806 12,659 7/31/2006 12,315 12,247 8/31/2006 12,659 12,610 9/30/2006 12,763 12,715 10/31/2006 13,483 13,447 11/30/2006 13,822 13,800 12/31/2006 13,920 13,847 1/31/2007 14,128 14,078 2/28/2007 14,057 13,967 3/31/2007 14,204 14,116 4/30/2007 14,465 14,370 5/31/2007 15,012 14,959 6/30/2007 14,847 14,740 7/31/2007 13,953 13,732 8/31/2007 14,149 14,043 9/30/2007 14,328 14,284 10/31/2007 14,609 14,694 11/30/2007 13,522 13,639 12/31/2007 13,494 13,630 1/31/2008 12,561 12,701 2/29/2008 12,157 12,230 3/31/2008 12,200 12,281 4/30/2008 12,584 12,796 5/31/2008 13,185 13,383 6/30/2008 12,005 12,353 7/31/2008 12,383 12,810 8/31/2008 12,831 13,273 9/30/2008 11,805 12,215 10/31/2008 9,375 9,674 11/30/2008 8,230 8,530 12/31/2008 8,635 9,025 1/31/2009 7,679 8,021 2/28/2009 6,752 7,046 3/31/2009 7,448 7,675 4/30/2009 8,831 8,862 5/31/2009 9,143 9,129 6/30/2009 9,380 9,263 7/31/2009 10,354 10,155 8/31/2009 10,724 10,446 9/30/2009 11,392 11,049 10/31/2009 10,601 10,299 11/30/2009 10,872 10,622 12/31/2009 11,773 11,477 1/31/2010 11,416 11,054 2/28/2010 11,973 11,552 3/31/2010 12,954 12,493 4/30/2010 13,833 13,200 5/31/2010 12,754 12,198 6/30/2010 11,734 11,253 7/31/2010 12,579 12,026 8/31/2010 11,620 11,136 9/30/2010 13,137 12,524 10/31/2010 13,675 13,036 11/30/2010 14,249 13,488 12/31/2010 15,388 14,559 1/31/2011 15,402 14,522 2/28/2011 16,267 15,318 3/31/2011 16,732 15,715 4/30/2011 17,129 16,130 5/31/2011 16,783 15,828 6/30/2011 16,515 15,463 7/31/2011 15,937 14,904 8/31/2011 14,507 13,607 9/30/2011 12,896 12,082 10/31/2011 14,872 13,910 11/30/2011 14,821 13,860 12/31/2011 14,903 13,951 1/31/2012 15,905 14,937 2/29/2012 16,363 15,294 3/31/2012 16,790 15,686 4/30/2012 16,558 15,444 5/31/2012 15,482 14,422 6/30/2012 16,136 15,141 7/31/2012 16,005 14,932 8/31/2012 16,567 15,430 9/30/2012 17,107 15,937 10/31/2012 16,895 15,591 11/30/2012 17,093 15,674 12/31/2012 17,644 16,232 1/31/2013 18,749 17,248 2/28/2013 18,936 17,438 3/31/2013 19,851 18,244 4/30/2013 19,687 18,177 5/31/2013 20,699 18,903 6/30/2013 20,676 18,806 7/31/2013 22,166 20,123 8/31/2013 21,417 19,483 9/30/2013 22,746 20,726 10/31/2013 23,489 21,248 11/30/2013 24,592 22,099 12/31/2013 25,091 22,534 1/31/2014 24,063 21,910 2/28/2014 25,164 22,942 3/31/2014 25,299 22,786 4/30/2014 24,554 21,902 5/31/2014 24,692 22,078 6/30/2014 25,865 23,252 Past performance is not predictive of 7/31/2014 24,314 21,845 future performance. 8/31/2014 25,467 22,928 The returns shown do not reflect the 9/30/2014 24,094 21,541 deduction of taxes that a shareholder 10/31/2014 25,525 22,961 would pay on fund distributions or the Average Annual One Five Ten redemption of fund shares. Total Return Year Years Years Russell data copyright (C) Russell ----------------------------------------------------------- Investment Group 1995-2014, all rights 8.67% 19.21% 9.82% reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- U.S. MICRO CAP PORTFOLIO VS. RUSSELL 2000(R) INDEX October 31, 2004-October 31, 2014 [CHART] U.S. Micro Cap Portfolio Russell 2000/R/ Index ------------------------------- --------------------- 10/31/2004 $10,000 $10,000 11/30/2004 10,897 10,867 12/31/2004 11,396 11,189 1/31/2005 10,929 10,722 2/28/2005 11,019 10,903 3/31/2005 10,664 10,591 4/30/2005 10,000 9,985 5/31/2005 10,603 10,638 6/30/2005 11,083 11,048 7/31/2005 11,928 11,748 8/31/2005 11,762 11,531 9/30/2005 11,834 11,567 10/31/2005 11,501 11,208 11/30/2005 12,023 11,752 12/31/2005 12,044 11,698 1/31/2006 13,145 12,747 2/28/2006 13,178 12,712 3/31/2006 13,777 13,329 4/30/2006 13,720 13,326 5/31/2006 12,913 12,578 6/30/2006 12,798 12,659 7/31/2006 12,357 12,247 8/31/2006 12,700 12,610 9/30/2006 12,770 12,715 10/31/2006 13,466 13,447 11/30/2006 13,768 13,800 12/31/2006 13,991 13,847 1/31/2007 14,151 14,078 2/28/2007 14,080 13,967 3/31/2007 14,223 14,116 4/30/2007 14,437 14,370 5/31/2007 14,892 14,959 6/30/2007 14,843 14,740 7/31/2007 13,877 13,732 8/31/2007 14,038 14,043 9/30/2007 14,245 14,284 10/31/2007 14,487 14,694 11/30/2007 13,268 13,639 12/31/2007 13,260 13,630 1/31/2008 12,246 12,701 2/29/2008 11,862 12,230 3/31/2008 11,899 12,281 4/30/2008 12,145 12,796 5/31/2008 12,628 13,383 6/30/2008 11,486 12,353 7/31/2008 11,999 12,810 8/31/2008 12,405 13,273 9/30/2008 11,491 12,215 10/31/2008 9,112 9,674 11/30/2008 7,942 8,530 12/31/2008 8,391 9,025 1/31/2009 7,391 8,021 2/28/2009 6,422 7,046 3/31/2009 7,037 7,675 4/30/2009 8,261 8,862 5/31/2009 8,544 9,129 6/30/2009 8,780 9,263 7/31/2009 9,641 10,155 8/31/2009 9,905 10,446 9/30/2009 10,475 11,049 10/31/2009 9,714 10,299 11/30/2009 9,886 10,622 12/31/2009 10,745 11,477 1/31/2010 10,430 11,054 2/28/2010 10,888 11,552 3/31/2010 11,768 12,493 4/30/2010 12,623 13,200 5/31/2010 11,687 12,198 6/30/2010 10,841 11,253 7/31/2010 11,615 12,026 8/31/2010 10,688 11,136 9/30/2010 11,988 12,524 10/31/2010 12,508 13,036 11/30/2010 13,039 13,488 12/31/2010 14,107 14,559 1/31/2011 13,954 14,522 2/28/2011 14,773 15,318 3/31/2011 15,253 15,715 4/30/2011 15,509 16,130 5/31/2011 15,212 15,828 6/30/2011 14,884 15,463 7/31/2011 14,484 14,904 8/31/2011 13,190 13,607 9/30/2011 11,795 12,082 10/31/2011 13,615 13,910 11/30/2011 13,533 13,860 12/31/2011 13,649 13,951 1/31/2012 14,598 14,937 2/29/2012 14,877 15,294 3/31/2012 15,321 15,686 4/30/2012 15,104 15,444 5/31/2012 14,051 14,422 6/30/2012 14,771 15,141 7/31/2012 14,636 14,932 8/31/2012 15,092 15,430 9/30/2012 15,725 15,937 10/31/2012 15,403 15,591 11/30/2012 15,548 15,674 12/31/2012 16,139 16,232 1/31/2013 17,056 17,248 2/28/2013 17,244 17,438 3/31/2013 18,084 18,244 4/30/2013 17,940 18,177 5/31/2013 18,869 18,903 6/30/2013 18,955 18,806 7/31/2013 20,360 20,123 8/31/2013 19,652 19,483 9/30/2013 21,038 20,726 10/31/2013 21,770 21,248 11/30/2013 22,978 22,099 12/31/2013 23,411 22,534 1/31/2014 22,375 21,910 2/28/2014 23,318 22,942 3/31/2014 23,545 22,786 4/30/2014 22,742 21,902 5/31/2014 22,765 22,078 6/30/2014 23,753 23,252 Past performance is not predictive of 7/31/2014 22,365 21,845 future performance. 8/31/2014 23,380 22,928 The returns shown do not reflect the 9/30/2014 22,048 21,541 deduction of taxes that a shareholder 10/31/2014 23,485 22,961 would pay on fund distributions or the Average Annual One Five Ten redemption of fund shares. Total Return Year Years Years Russell data copyright (C) Russell ----------------------------------------------------------- Investment Group 1995-2014, all rights 7.88% 19.31% 8.91% 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 October 31, 2004-October 31, 2014 [CHART] DFA Real Estate Dow Jones U.S. Select Securities Portfolio S&P 500/R/ Index REIT Index ----------------------- ---------------- ---------------------- 10/31/2004 $10,000 $10,000 $10,000 11/30/2004 10,435 10,405 10,445 12/31/2004 10,958 10,759 10,987 1/31/2005 10,041 10,496 10,018 2/28/2005 10,356 10,717 10,341 3/31/2005 10,198 10,527 10,185 4/30/2005 10,777 10,328 10,796 5/31/2005 11,130 10,656 11,154 6/30/2005 11,699 10,672 11,735 7/31/2005 12,550 11,069 12,630 8/31/2005 12,081 10,968 12,145 9/30/2005 12,138 11,056 12,198 10/31/2005 11,863 10,872 11,939 11/30/2005 12,398 11,283 12,493 12/31/2005 12,399 11,287 12,506 1/31/2006 13,352 11,586 13,486 2/28/2006 13,605 11,618 13,775 3/31/2006 14,309 11,762 14,480 4/30/2006 13,768 11,920 13,932 5/31/2006 13,357 11,577 13,546 6/30/2006 14,095 11,593 14,317 7/31/2006 14,579 11,664 14,825 8/31/2006 15,092 11,942 15,323 9/30/2006 15,394 12,250 15,622 10/31/2006 16,359 12,649 16,606 11/30/2006 17,137 12,889 17,398 12/31/2006 16,772 13,070 17,004 1/31/2007 18,224 13,268 18,519 2/28/2007 17,800 13,008 18,104 3/31/2007 17,358 13,154 17,640 4/30/2007 17,342 13,737 17,633 5/31/2007 17,342 14,216 17,645 6/30/2007 15,715 13,980 15,988 7/31/2007 14,478 13,546 14,734 8/31/2007 15,354 13,749 15,605 9/30/2007 15,954 14,264 16,215 10/31/2007 16,135 14,490 16,401 11/30/2007 14,489 13,885 14,807 12/31/2007 13,640 13,788 14,019 1/31/2008 13,646 12,961 13,952 2/29/2008 13,128 12,540 13,426 3/31/2008 13,953 12,486 14,319 4/30/2008 14,776 13,094 15,202 5/31/2008 14,805 13,264 15,236 6/30/2008 13,180 12,146 13,548 7/31/2008 13,562 12,044 13,939 8/31/2008 13,897 12,218 14,255 9/30/2008 13,868 11,129 14,195 10/31/2008 9,496 9,260 9,598 11/30/2008 7,298 8,596 7,242 12/31/2008 8,544 8,687 8,524 1/31/2009 7,027 7,955 6,983 2/28/2009 5,554 7,108 5,457 3/31/2009 5,750 7,730 5,633 4/30/2009 7,550 8,470 7,480 5/31/2009 7,747 8,944 7,672 6/30/2009 7,507 8,962 7,404 7/31/2009 8,294 9,640 8,175 8/31/2009 9,416 9,988 9,372 9/30/2009 10,047 10,360 10,028 10/31/2009 9,589 10,168 9,574 11/30/2009 10,247 10,778 10,233 12/31/2009 10,951 10,986 10,949 1/31/2010 10,379 10,591 10,323 2/28/2010 10,951 10,919 10,909 3/31/2010 12,064 11,578 12,024 4/30/2010 12,913 11,760 12,874 5/31/2010 12,224 10,821 12,180 6/30/2010 11,590 10,255 11,527 7/31/2010 12,734 10,973 12,667 8/31/2010 12,573 10,478 12,497 9/30/2010 13,118 11,413 13,051 10/31/2010 13,732 11,847 13,655 11/30/2010 13,461 11,849 13,389 12/31/2010 14,090 12,641 14,023 1/31/2011 14,587 12,940 14,521 2/28/2011 15,247 13,384 15,184 3/31/2011 15,018 13,389 14,962 4/30/2011 15,887 13,786 15,849 5/31/2011 16,103 13,629 16,095 6/30/2011 15,573 13,402 15,556 7/31/2011 15,829 13,130 15,839 8/31/2011 14,977 12,417 14,971 9/30/2011 13,332 11,544 13,294 10/31/2011 15,255 12,805 15,248 11/30/2011 14,677 12,777 14,648 12/31/2011 15,351 12,908 15,337 1/31/2012 16,322 13,486 16,323 2/29/2012 16,149 14,069 16,141 3/31/2012 16,980 14,532 16,986 4/30/2012 17,466 14,441 17,497 5/31/2012 16,668 13,573 16,699 6/30/2012 17,608 14,132 17,623 7/31/2012 17,955 14,329 17,958 8/31/2012 17,929 14,652 17,910 9/30/2012 17,594 15,030 17,557 10/31/2012 17,459 14,753 17,396 11/30/2012 17,398 14,838 17,310 12/31/2012 18,036 14,973 17,963 1/31/2013 18,672 15,749 18,572 2/28/2013 18,878 15,963 18,727 3/31/2013 19,398 16,561 19,226 4/30/2013 20,708 16,881 20,549 5/31/2013 19,473 17,275 19,318 6/30/2013 19,109 17,043 18,978 7/31/2013 19,276 17,911 19,124 8/31/2013 17,919 17,392 17,813 9/30/2013 18,477 17,937 18,381 10/31/2013 19,253 18,762 19,130 11/30/2013 18,227 19,334 18,080 12/31/2013 18,286 19,823 18,181 1/31/2014 19,062 19,138 18,919 2/28/2014 20,028 20,013 19,888 3/31/2014 20,158 20,181 20,062 4/30/2014 20,888 20,331 20,800 Past performance is not predictive of 5/31/2014 21,383 20,808 21,313 future performance. 6/30/2014 21,606 21,238 21,497 The returns shown do not reflect the 7/31/2014 21,620 20,945 21,541 deduction of taxes that a shareholder 8/31/2014 22,234 21,783 22,141 would pay on fund distributions or the 9/30/2014 20,898 21,477 20,852 redemption of fund shares. 10/31/2014 23,066 22,002 23,088 The S&P data are provided by Average Annual One Five Ten Standard & Poor's Index Services Group. Total Return Year Years Years Dow Jones data provided by Dow Jones ---------------------------------------------------------------- Indexes. The S&P data are provided by 19.80% 19.19% 8.72% Standard & Poor's Index Services Group. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- LARGE CAP INTERNATIONAL PORTFOLIO VS. MSCI WORLD EX USA INDEX (NET DIVIDENDS) October 31, 2004-October 31, 2014 [CHART] Large Cap International MSCI World ex USA Portfolio Index (net dividends) ------------------------------- -------------------- 10/31/2004 $10,000 $10,000 11/30/2004 10,633 10,665 12/31/2004 11,114 11,116 1/31/2005 10,915 10,897 2/28/2005 11,337 11,382 3/31/2005 11,070 11,123 4/30/2005 10,846 10,840 5/31/2005 10,778 10,859 6/30/2005 10,933 11,037 7/31/2005 11,266 11,393 8/31/2005 11,680 11,708 9/30/2005 12,068 12,242 10/31/2005 11,803 11,847 11/30/2005 11,986 12,160 12/31/2005 12,611 12,724 1/31/2006 13,348 13,529 2/28/2006 13,259 13,483 3/31/2006 13,748 13,911 4/30/2006 14,415 14,576 5/31/2006 13,894 14,022 6/30/2006 13,839 14,004 7/31/2006 13,987 14,136 8/31/2006 14,355 14,537 9/30/2006 14,349 14,526 10/31/2006 14,900 15,100 11/30/2006 15,341 15,549 12/31/2006 15,746 15,995 1/31/2007 15,948 16,093 2/28/2007 15,994 16,222 3/31/2007 16,436 16,637 4/30/2007 17,016 17,394 5/31/2007 17,545 17,781 6/30/2007 17,512 17,798 7/31/2007 17,182 17,552 8/31/2007 17,063 17,298 9/30/2007 17,999 18,281 10/31/2007 18,802 19,076 11/30/2007 18,131 18,330 12/31/2007 17,708 17,985 1/31/2008 16,367 16,364 2/29/2008 16,353 16,660 3/31/2008 16,296 16,422 4/30/2008 17,158 17,335 5/31/2008 17,518 17,598 6/30/2008 16,123 16,230 7/31/2008 15,536 15,652 8/31/2008 14,873 15,047 9/30/2008 13,064 12,874 10/31/2008 10,310 10,196 11/30/2008 9,690 9,643 12/31/2008 10,369 10,152 1/31/2009 9,205 9,204 2/28/2009 8,279 8,273 3/31/2009 8,915 8,818 4/30/2009 9,929 9,955 5/31/2009 11,317 11,214 6/30/2009 11,160 11,098 7/31/2009 12,231 12,140 8/31/2009 12,710 12,722 9/30/2009 13,252 13,247 10/31/2009 12,908 13,034 11/30/2009 13,388 13,356 12/31/2009 13,546 13,569 1/31/2010 12,846 12,933 2/28/2010 12,932 12,920 3/31/2010 13,747 13,752 4/30/2010 13,479 13,547 5/31/2010 12,010 12,052 6/30/2010 11,815 11,878 7/31/2010 13,034 12,976 8/31/2010 12,586 12,588 9/30/2010 13,825 13,795 10/31/2010 14,326 14,287 11/30/2010 13,699 13,682 12/31/2010 14,800 14,783 1/31/2011 15,134 15,102 2/28/2011 15,729 15,662 3/31/2011 15,368 15,348 4/30/2011 16,248 16,184 5/31/2011 15,786 15,704 6/30/2011 15,562 15,480 7/31/2011 15,245 15,225 8/31/2011 13,966 13,938 9/30/2011 12,428 12,538 10/31/2011 13,631 13,758 11/30/2011 13,288 13,122 12/31/2011 12,983 12,979 1/31/2012 13,766 13,679 2/29/2012 14,435 14,431 3/31/2012 14,409 14,325 4/30/2012 14,132 14,081 5/31/2012 12,568 12,476 6/30/2012 13,400 13,294 7/31/2012 13,440 13,459 8/31/2012 13,894 13,843 9/30/2012 14,308 14,263 10/31/2012 14,434 14,363 11/30/2012 14,725 14,665 12/31/2012 15,287 15,109 1/31/2013 15,907 15,852 2/28/2013 15,692 15,694 3/31/2013 15,906 15,818 4/30/2013 16,590 16,539 5/31/2013 16,153 16,168 6/30/2013 15,678 15,563 7/31/2013 16,543 16,391 8/31/2013 16,301 16,180 9/30/2013 17,452 17,323 10/31/2013 18,020 17,904 11/30/2013 18,118 18,014 12/31/2013 18,450 18,285 1/31/2014 17,625 17,547 2/28/2014 18,663 18,505 3/31/2014 18,611 18,422 4/30/2014 18,915 18,712 5/31/2014 19,179 19,002 6/30/2014 19,444 19,272 7/31/2014 18,993 18,928 Past performance is not predictive of 8/31/2014 19,077 18,943 future performance. 9/30/2014 18,264 18,165 The returns shown do not reflect the 10/31/2014 18,105 17,877 deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. -------------------------------------------------------- MSCI data copyright MSCI 2014, all 0.47% 7.00% 6.12% 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, 2014 [CHART] International Core Equity MSCI World ex USA 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 11/30/2013 15,858 14,966 12/31/2013 16,190 15,191 1/31/2014 15,646 14,578 2/28/2014 16,569 15,374 3/31/2014 16,534 15,305 4/30/2014 16,725 15,546 5/31/2014 16,903 15,787 6/30/2014 17,167 16,011 7/31/2014 16,704 15,725 Past performance is not predictive of 8/31/2014 16,768 15,738 future performance. 9/30/2014 15,928 15,092 The returns shown do not reflect the 10/31/2014 15,696 14,852 deduction of taxes that a shareholder Average Annual One Five Since would pay on fund distributions or the Total Return Year Years Inception redemption of fund shares. ------------------------------------------------------------- MSCI data copyright MSCI 2014, all -0.55% 7.37% 5.06% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- INTERNATIONAL SMALL COMPANY PORTFOLIO VS. MSCI WORLD EX USA SMALL CAP INDEX (NET DIVIDENDS) October 31, 2004-October 31, 2014 [CHART] International Small Company MSCI World ex USA Small Portfolio Cap Index (net dividends) ------------------------------- ------------------------- 10/31/2004 $10,000 $10,000 11/30/2004 10,721 10,800 12/31/2004 11,227 11,303 1/31/2005 11,493 11,477 2/28/2005 12,002 11,965 3/31/2005 11,790 11,770 4/30/2005 11,509 11,439 5/31/2005 11,313 11,466 6/30/2005 11,598 11,770 7/31/2005 12,017 12,281 8/31/2005 12,547 12,658 9/30/2005 12,846 13,171 10/31/2005 12,592 12,691 11/30/2005 12,838 13,114 12/31/2005 13,692 14,134 1/31/2006 14,638 15,141 2/28/2006 14,546 14,951 3/31/2006 15,216 15,654 4/30/2006 15,936 16,383 5/31/2006 15,132 15,477 6/30/2006 14,842 15,101 7/31/2006 14,681 14,732 8/31/2006 15,070 15,162 9/30/2006 15,181 15,122 10/31/2006 15,784 15,722 11/30/2006 16,498 16,398 12/31/2006 17,098 16,884 1/31/2007 17,576 17,228 2/28/2007 17,824 17,530 3/31/2007 18,491 18,112 4/30/2007 19,103 18,810 5/31/2007 19,493 19,088 6/30/2007 19,461 19,046 7/31/2007 19,470 18,929 8/31/2007 18,719 17,931 9/30/2007 19,130 18,336 10/31/2007 20,163 19,574 11/30/2007 18,690 17,964 12/31/2007 18,066 17,438 1/31/2008 16,692 15,748 2/29/2008 17,114 16,496 3/31/2008 17,137 16,313 4/30/2008 17,503 16,710 5/31/2008 17,965 17,048 6/30/2008 16,635 15,732 7/31/2008 15,835 14,938 8/31/2008 15,210 14,386 9/30/2008 12,904 11,855 10/31/2008 9,882 8,929 11/30/2008 9,371 8,496 12/31/2008 10,140 9,063 1/31/2009 9,339 8,536 2/28/2009 8,488 7,757 3/31/2009 9,050 8,255 4/30/2009 10,249 9,527 5/31/2009 11,776 10,937 6/30/2009 11,899 11,069 7/31/2009 12,792 11,958 8/31/2009 13,604 12,880 9/30/2009 14,327 13,604 10/31/2009 14,066 13,394 11/30/2009 14,257 13,498 12/31/2009 14,395 13,669 1/31/2010 14,173 13,489 2/28/2010 14,152 13,412 3/31/2010 15,163 14,409 4/30/2010 15,396 14,693 5/31/2010 13,574 12,928 6/30/2010 13,542 12,807 7/31/2010 14,780 13,905 8/31/2010 14,340 13,544 9/30/2010 15,917 15,080 10/31/2010 16,542 15,702 11/30/2010 16,081 15,290 12/31/2010 17,837 17,019 1/31/2011 18,055 17,108 2/28/2011 18,606 17,595 3/31/2011 18,577 17,578 4/30/2011 19,460 18,450 5/31/2011 18,919 17,939 6/30/2011 18,535 17,551 7/31/2011 18,357 17,455 8/31/2011 16,918 16,076 9/30/2011 14,919 14,231 10/31/2011 16,059 15,386 11/30/2011 15,552 14,613 12/31/2011 15,100 14,329 1/31/2012 16,387 15,512 2/29/2012 17,216 16,391 3/31/2012 17,283 16,282 4/30/2012 17,076 16,197 5/31/2012 15,089 14,294 6/30/2012 15,678 14,787 7/31/2012 15,634 14,901 8/31/2012 16,176 15,329 9/30/2012 16,851 16,056 10/31/2012 16,962 16,134 11/30/2012 17,107 16,217 12/31/2012 17,947 16,833 1/31/2013 18,736 17,643 2/28/2013 18,724 17,706 3/31/2013 19,065 18,051 4/30/2013 19,572 18,575 5/31/2013 19,143 18,139 6/30/2013 18,636 17,422 7/31/2013 19,869 18,511 8/31/2013 19,801 18,478 9/30/2013 21,431 20,029 10/31/2013 22,163 20,621 11/30/2013 22,265 20,648 12/31/2013 22,872 21,134 1/31/2014 22,468 20,769 2/28/2014 23,872 21,946 3/31/2014 23,837 21,864 4/30/2014 23,849 21,796 5/31/2014 24,003 22,069 6/30/2014 24,447 22,570 7/31/2014 23,669 21,985 Past performance is not predictive of 8/31/2014 23,825 22,039 future performance. 9/30/2014 22,377 20,704 The returns shown do not reflect the 10/31/2014 21,920 20,180 deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. -------------------------------------------------------------- MSCI data copyright MSCI 2014, all -1.09% 9.28% 8.16% 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, 2004-October 31, 2014 [CHART] Japanese Small Company MSCI Japan Small Cap Portfolio Index (net dividends) ------------------------------- --------------------- 10/31/2004 $10,000 $10,000 11/30/2004 10,310 10,435 12/31/2004 10,802 10,940 1/31/2005 11,234 11,312 2/28/2005 11,644 11,529 3/31/2005 11,712 11,502 4/30/2005 11,391 11,408 5/31/2005 11,190 11,198 6/30/2005 11,400 11,350 7/31/2005 11,639 11,671 8/31/2005 12,273 12,072 9/30/2005 12,774 12,826 10/31/2005 13,162 13,082 11/30/2005 13,416 13,642 12/31/2005 14,938 15,486 1/31/2006 15,569 15,980 2/28/2006 14,630 14,939 3/31/2006 15,276 15,610 4/30/2006 15,569 15,687 5/31/2006 14,465 14,429 6/30/2006 13,910 13,977 7/31/2006 13,246 13,053 8/31/2006 13,457 13,400 9/30/2006 13,218 13,107 10/31/2006 13,113 13,023 11/30/2006 13,022 12,913 12/31/2006 13,135 12,988 1/31/2007 13,401 13,241 2/28/2007 13,941 13,763 3/31/2007 13,827 13,636 4/30/2007 13,637 13,403 5/31/2007 13,356 13,083 6/30/2007 13,571 13,169 7/31/2007 13,640 13,166 8/31/2007 13,066 12,364 9/30/2007 13,047 12,289 10/31/2007 13,131 12,733 11/30/2007 12,825 12,198 12/31/2007 12,015 11,468 1/31/2008 11,683 10,905 2/29/2008 11,583 11,024 3/31/2008 11,810 11,028 4/30/2008 11,895 11,165 5/31/2008 12,327 11,509 6/30/2008 11,742 10,802 7/31/2008 11,415 10,449 8/31/2008 10,783 9,987 9/30/2008 10,075 9,012 10/31/2008 9,341 8,061 11/30/2008 9,583 8,390 12/31/2008 10,559 9,043 1/31/2009 9,834 8,569 2/28/2009 8,549 7,443 3/31/2009 8,946 7,705 4/30/2009 9,300 8,099 5/31/2009 10,444 9,091 6/30/2009 11,135 9,669 7/31/2009 11,366 9,911 8/31/2009 11,963 10,467 9/30/2009 11,834 10,425 10/31/2009 11,404 10,044 11/30/2009 10,942 9,685 12/31/2009 10,897 9,504 1/31/2010 11,041 9,709 2/28/2010 11,250 9,893 3/31/2010 11,821 10,343 4/30/2010 12,167 10,623 5/31/2010 11,147 9,886 6/30/2010 11,319 9,930 7/31/2010 11,514 10,051 8/31/2010 11,198 9,838 9/30/2010 11,693 10,240 10/31/2010 11,442 10,156 11/30/2010 11,725 10,354 12/31/2010 12,804 11,398 1/31/2011 13,089 11,534 2/28/2011 13,692 11,998 3/31/2011 12,837 11,258 4/30/2011 12,771 11,268 5/31/2011 12,559 11,100 6/30/2011 13,184 11,514 7/31/2011 13,661 11,992 8/31/2011 13,291 11,502 9/30/2011 13,219 11,512 10/31/2011 12,536 11,088 11/30/2011 12,742 10,787 12/31/2011 12,675 10,955 1/31/2012 13,471 11,405 2/29/2012 13,487 11,529 3/31/2012 13,869 11,837 4/30/2012 13,579 11,666 5/31/2012 12,442 10,697 6/30/2012 13,101 11,153 7/31/2012 12,657 10,979 8/31/2012 12,657 10,916 9/30/2012 12,838 11,218 10/31/2012 12,562 10,975 11/30/2012 12,738 11,051 12/31/2012 13,202 11,395 1/31/2013 13,616 11,821 2/28/2013 13,946 12,222 3/31/2013 15,011 13,209 4/30/2013 15,805 14,078 5/31/2013 14,512 12,963 6/30/2013 14,639 12,927 7/31/2013 14,986 13,138 8/31/2013 14,648 12,960 9/30/2013 16,296 14,436 10/31/2013 16,338 14,377 11/30/2013 16,211 14,282 12/31/2013 16,326 14,396 1/31/2014 16,152 14,355 2/28/2014 16,082 14,036 3/31/2014 16,161 14,072 4/30/2014 15,917 13,811 5/31/2014 16,326 14,263 6/30/2014 17,475 15,273 7/31/2014 17,362 15,355 8/31/2014 17,527 15,246 9/30/2014 16,979 14,736 10/31/2014 16,665 14,342 Past performance is not predictive of future performance. The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. ---------------------------------------------------------- MSCI data copyright MSCI 2014, all 2.00% 7.88% 5.24% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- ASIA PACIFIC SMALL COMPANY PORTFOLIO VS. MSCI PACIFIC EX JAPAN SMALL CAP INDEX (NET DIVIDENDS) October 31, 2004-October 31, 2014 [CHART] Asia Pacific Small Company MSCI Pacific ex Japan Small Cap Portfolio Index (net dividends) ------------------------------- -------------------------------- 10/31/2004 $10,000 $10,000 11/30/2004 10,723 10,770 12/31/2004 10,964 11,225 1/31/2005 11,213 11,323 2/28/2005 11,529 11,683 3/31/2005 11,137 11,351 4/30/2005 10,761 11,167 5/31/2005 10,512 11,310 6/30/2005 10,985 11,928 7/31/2005 11,349 12,425 8/31/2005 11,645 12,415 9/30/2005 12,071 13,041 10/31/2005 11,384 12,275 11/30/2005 11,667 12,741 12/31/2005 11,841 12,991 1/31/2006 12,638 13,734 2/28/2006 12,817 13,872 3/31/2006 13,465 14,460 4/30/2006 14,231 15,392 5/31/2006 13,426 14,606 6/30/2006 13,333 14,428 7/31/2006 13,585 14,576 8/31/2006 13,916 15,052 9/30/2006 14,056 15,301 10/31/2006 15,205 16,368 11/30/2006 16,044 17,362 12/31/2006 16,496 18,010 1/31/2007 16,924 18,468 2/28/2007 17,368 18,820 3/31/2007 18,272 19,791 4/30/2007 19,548 21,163 5/31/2007 21,212 21,994 6/30/2007 22,077 22,566 7/31/2007 22,419 22,560 8/31/2007 20,734 21,108 9/30/2007 23,161 22,981 10/31/2007 25,182 24,552 11/30/2007 23,513 22,580 12/31/2007 23,103 22,269 1/31/2008 20,775 19,285 2/29/2008 21,405 20,431 3/31/2008 20,365 19,142 4/30/2008 21,781 20,423 5/31/2008 22,730 20,643 6/30/2008 20,484 18,333 7/31/2008 19,273 17,490 8/31/2008 17,918 16,070 9/30/2008 14,839 12,933 10/31/2008 9,898 8,365 11/30/2008 8,949 7,452 12/31/2008 9,925 8,318 1/31/2009 8,697 7,402 2/28/2009 8,218 6,942 3/31/2009 9,492 7,937 4/30/2009 10,906 9,358 5/31/2009 13,724 11,602 6/30/2009 13,823 11,928 7/31/2009 15,814 13,651 8/31/2009 16,536 14,352 9/30/2009 17,819 15,554 10/31/2009 18,208 15,927 11/30/2009 19,057 16,385 12/31/2009 19,555 17,040 1/31/2010 18,491 15,950 2/28/2010 18,813 16,150 3/31/2010 20,360 17,481 4/30/2010 20,629 17,970 5/31/2010 17,770 15,257 6/30/2010 17,547 15,170 7/31/2010 19,489 16,713 8/31/2010 19,462 16,676 9/30/2010 22,414 19,180 10/31/2010 23,371 20,031 11/30/2010 23,052 19,764 12/31/2010 25,307 21,758 1/31/2011 24,760 21,126 2/28/2011 24,911 21,241 3/31/2011 25,434 21,893 4/30/2011 26,502 22,779 5/31/2011 25,717 22,257 6/30/2011 24,843 21,466 7/31/2011 25,244 21,783 8/31/2011 23,477 20,268 9/30/2011 19,095 16,583 10/31/2011 22,065 19,299 11/30/2011 21,471 17,983 12/31/2011 20,214 17,407 1/31/2012 22,298 19,214 2/29/2012 23,983 20,708 3/31/2012 23,624 20,060 4/30/2012 23,524 20,168 5/31/2012 20,586 17,550 6/30/2012 21,013 17,796 7/31/2012 21,317 18,381 8/31/2012 22,025 18,675 9/30/2012 23,109 19,668 10/31/2012 23,628 20,074 11/30/2012 23,954 20,272 12/31/2012 25,070 20,781 1/31/2013 26,321 21,882 2/28/2013 26,426 22,142 3/31/2013 26,542 22,197 4/30/2013 26,090 22,021 5/31/2013 24,144 20,400 6/30/2013 22,441 18,656 7/31/2013 23,534 19,402 8/31/2013 23,713 19,570 9/30/2013 25,375 21,075 10/31/2013 26,100 21,445 11/30/2013 25,175 20,539 12/31/2013 25,483 20,636 1/31/2014 24,276 19,680 2/28/2014 25,670 20,739 3/31/2014 26,042 21,122 4/30/2014 26,097 21,260 5/31/2014 26,119 21,434 6/30/2014 26,306 21,550 7/31/2014 26,854 22,019 8/31/2014 27,271 22,189 9/30/2014 24,748 20,150 10/31/2014 25,099 20,388 Past performance is not predictive of future performance. The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. --------------------------------------------------------------- MSCI data copyright MSCI 2014, all -3.84% 6.63% 9.64% 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, 2004-October 31, 2014 [CHART] United Kingdom Small Company MSCI UK Small Cap Portfolio Index (net dividends) ------------------------------- --------------------- 10/31/2004 $10,000 $10,000 11/30/2004 10,801 10,809 12/31/2004 11,245 11,432 1/31/2005 11,560 11,689 2/28/2005 11,952 11,965 3/31/2005 11,679 11,816 4/30/2005 11,281 11,282 5/31/2005 11,057 11,182 6/30/2005 11,257 11,354 7/31/2005 11,476 11,691 8/31/2005 12,121 12,257 9/30/2005 11,977 12,278 10/31/2005 11,637 11,904 11/30/2005 12,134 12,499 12/31/2005 12,665 13,039 1/31/2006 13,651 14,100 2/28/2006 13,835 14,321 3/31/2006 14,061 14,611 4/30/2006 14,764 15,384 5/31/2006 14,460 15,043 6/30/2006 14,442 14,915 7/31/2006 14,542 14,799 8/31/2006 15,149 15,332 9/30/2006 15,586 15,781 10/31/2006 16,462 16,685 11/30/2006 17,491 17,766 12/31/2006 18,440 18,600 1/31/2007 18,558 18,557 2/28/2007 18,553 18,615 3/31/2007 19,414 19,385 4/30/2007 20,078 20,347 5/31/2007 20,342 20,477 6/30/2007 19,591 19,881 7/31/2007 19,478 19,770 8/31/2007 19,359 19,045 9/30/2007 18,685 17,966 10/31/2007 20,172 19,940 11/30/2007 17,830 17,633 12/31/2007 16,885 16,747 1/31/2008 15,745 15,400 2/29/2008 15,967 15,922 3/31/2008 15,901 15,721 4/30/2008 16,165 16,014 5/31/2008 16,207 16,090 6/30/2008 14,912 14,990 7/31/2008 14,383 14,392 8/31/2008 14,140 14,015 9/30/2008 11,953 11,438 10/31/2008 8,743 8,264 11/30/2008 8,118 7,498 12/31/2008 7,932 7,308 1/31/2009 7,741 7,267 2/28/2009 7,419 7,027 3/31/2009 7,737 7,434 4/30/2009 9,355 9,142 5/31/2009 10,310 10,107 6/30/2009 10,354 10,179 7/31/2009 11,251 11,115 8/31/2009 12,122 12,187 9/30/2009 12,473 12,468 10/31/2009 12,486 12,486 11/30/2009 12,442 12,356 12/31/2009 12,698 12,661 1/31/2010 12,571 12,603 2/28/2010 12,139 12,038 3/31/2010 13,151 13,099 4/30/2010 13,628 13,622 5/31/2010 12,081 11,985 6/30/2010 12,310 12,036 7/31/2010 13,967 13,484 8/31/2010 13,447 13,118 9/30/2010 14,878 14,563 10/31/2010 15,653 15,184 11/30/2010 14,878 14,552 12/31/2010 16,390 16,074 1/31/2011 16,625 16,230 2/28/2011 17,120 16,658 3/31/2011 16,794 16,370 4/30/2011 18,277 17,871 5/31/2011 18,159 17,645 6/30/2011 17,579 17,050 7/31/2011 17,454 17,003 8/31/2011 15,707 15,269 9/30/2011 14,118 13,659 10/31/2011 15,609 15,151 11/30/2011 15,130 14,563 12/31/2011 14,654 14,077 1/31/2012 15,942 15,505 2/29/2012 17,244 16,945 3/31/2012 17,608 17,001 4/30/2012 17,907 17,290 5/31/2012 15,884 15,148 6/30/2012 16,656 15,869 7/31/2012 16,931 16,158 8/31/2012 17,853 17,014 9/30/2012 18,765 17,922 10/31/2012 19,172 18,293 11/30/2012 19,289 18,299 12/31/2012 20,343 19,141 1/31/2013 20,699 19,644 2/28/2013 20,880 19,755 3/31/2013 21,498 20,287 4/30/2013 22,035 20,794 5/31/2013 22,231 21,075 6/30/2013 21,740 20,315 7/31/2013 23,570 22,008 8/31/2013 23,733 22,309 9/30/2013 25,329 23,983 10/31/2013 26,230 24,827 11/30/2013 26,819 25,412 12/31/2013 28,290 26,640 1/31/2014 27,613 26,073 2/28/2014 30,080 28,602 3/31/2014 29,149 27,570 4/30/2014 28,661 26,911 5/31/2014 28,625 26,963 6/30/2014 28,591 26,899 7/31/2014 27,692 26,139 Past performance is not predictive of 8/31/2014 28,102 26,414 future performance. 9/30/2014 26,496 24,864 The returns shown do not reflect the 10/31/2014 26,423 24,705 deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. ---------------------------------------------------------- MSCI data copyright MSCI 2014, all 0.73% 16.17% 10.20% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- CONTINENTAL SMALL COMPANY PORTFOLIO VS. MSCI EUROPE EX UK SMALL CAP INDEX (NET DIVIDENDS) October 31, 2004-October 31, 2014 [CHART] Continental Small Company MSCI Europe ex UK Portfolio Small Cap Index (net dividends) ------------------------------- ------------------------------- 10/31/2004 $10,000 $10,000 11/30/2004 11,066 11,110 12/31/2004 11,634 11,665 1/31/2005 11,799 11,796 2/28/2005 12,548 12,623 3/31/2005 12,202 12,300 4/30/2005 11,873 11,938 5/31/2005 11,898 12,108 6/30/2005 12,220 12,496 7/31/2005 12,973 13,353 8/31/2005 13,404 13,732 9/30/2005 13,743 14,201 10/31/2005 13,062 13,221 11/30/2005 13,104 13,390 12/31/2005 13,775 14,166 1/31/2006 15,096 15,746 2/28/2006 15,521 16,191 3/31/2006 16,518 17,237 4/30/2006 17,655 18,458 5/31/2006 16,795 17,510 6/30/2006 16,484 17,111 7/31/2006 16,438 16,923 8/31/2006 16,867 17,322 9/30/2006 17,086 17,503 10/31/2006 17,938 18,439 11/30/2006 19,175 19,729 12/31/2006 20,087 20,660 1/31/2007 21,013 21,321 2/28/2007 21,032 21,413 3/31/2007 22,258 22,551 4/30/2007 23,425 23,916 5/31/2007 23,869 24,333 6/30/2007 23,601 24,101 7/31/2007 23,465 23,924 8/31/2007 22,619 22,841 9/30/2007 23,116 23,296 10/31/2007 24,230 24,690 11/30/2007 22,432 22,923 12/31/2007 21,984 22,459 1/31/2008 19,887 19,754 2/29/2008 20,736 20,950 3/31/2008 21,390 21,376 4/30/2008 21,635 21,741 5/31/2008 22,045 22,079 6/30/2008 20,179 20,039 7/31/2008 19,107 18,901 8/31/2008 18,577 18,385 9/30/2008 15,338 14,578 10/31/2008 11,242 10,477 11/30/2008 10,362 9,608 12/31/2008 11,442 10,496 1/31/2009 10,141 9,553 2/28/2009 9,260 8,712 3/31/2009 9,926 9,386 4/30/2009 11,542 11,340 5/31/2009 13,220 13,032 6/30/2009 13,050 12,865 7/31/2009 14,085 14,020 8/31/2009 15,258 15,459 9/30/2009 16,561 16,941 10/31/2009 16,089 16,479 11/30/2009 16,571 16,817 12/31/2009 16,514 16,893 1/31/2010 16,234 16,668 2/28/2010 15,890 16,193 3/31/2010 17,062 17,507 4/30/2010 16,901 17,396 5/31/2010 14,493 14,705 6/30/2010 14,391 14,485 7/31/2010 16,114 16,221 8/31/2010 15,372 15,450 9/30/2010 17,496 17,834 10/31/2010 18,479 18,978 11/30/2010 17,038 17,540 12/31/2010 19,251 19,996 1/31/2011 19,788 20,448 2/28/2011 20,118 20,795 3/31/2011 20,798 21,497 4/30/2011 22,192 22,998 5/31/2011 21,435 22,121 6/30/2011 20,738 21,407 7/31/2011 19,557 20,107 8/31/2011 17,553 18,007 9/30/2011 14,893 15,302 10/31/2011 16,429 16,978 11/30/2011 15,330 15,652 12/31/2011 14,731 15,120 1/31/2012 16,126 16,619 2/29/2012 17,149 17,895 3/31/2012 17,183 17,750 4/30/2012 16,778 17,454 5/31/2012 14,482 15,060 6/30/2012 15,104 15,802 7/31/2012 14,955 15,746 8/31/2012 15,622 16,433 9/30/2012 16,444 17,317 10/31/2012 16,732 17,616 11/30/2012 16,940 17,885 12/31/2012 17,962 18,850 1/31/2013 19,318 20,385 2/28/2013 19,121 20,323 3/31/2013 18,692 19,800 4/30/2013 19,445 20,569 5/31/2013 19,805 21,036 6/30/2013 19,143 20,100 7/31/2013 20,805 21,928 8/31/2013 20,828 21,887 9/30/2013 22,638 23,759 10/31/2013 23,925 25,189 11/30/2013 24,350 25,637 12/31/2013 25,027 26,302 1/31/2014 24,873 26,085 2/28/2014 27,051 28,365 3/31/2014 27,181 28,388 4/30/2014 27,429 28,507 5/31/2014 27,536 28,828 6/30/2014 27,291 28,546 7/31/2014 25,682 26,863 Past performance is not predictive of 8/31/2014 25,370 26,647 future performance. 9/30/2014 24,006 25,178 The returns shown do not reflect the 10/31/2014 23,284 24,356 deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. --------------------------------------------------------------- MSCI data copyright MSCI 2014, all -2.68% 7.67% 8.82% 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, 2014 [CHART] DFA International Real Estate Securities S&P Global ex U.S. Portfolio 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 8/31/2013 8,162 8,091 9/30/2013 8,861 8,784 10/31/2013 9,128 9,045 11/30/2013 8,845 8,764 12/31/2013 8,807 8,696 1/31/2014 8,649 8,539 2/28/2014 9,158 9,013 3/31/2014 9,140 8,980 4/30/2014 9,526 9,339 5/31/2014 9,807 9,618 6/30/2014 10,018 9,863 7/31/2014 10,000 9,879 Past performance is not predictive of 8/31/2014 10,175 10,042 future performance. 9/30/2014 9,509 9,368 The returns shown do not reflect the 10/31/2014 9,877 9,661 deduction of taxes that a shareholder Average Annual One Five Since would pay on fund distributions or the Total Return Year Years Inception redemption of fund shares. --------------------------------------------------------------- The S&P data are provided by 8.21% 11.37% -0.16% Standard & Poor's Index Services Group. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- DFA GLOBAL REAL ESTATE SECURITIES PORTFOLIO VS. S&P GLOBAL REIT INDEX (NET DIVIDENDS) June 4, 2008-October 31, 2014 [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 8/31/2013 11,316 10,573 9/30/2013 11,908 11,121 10/31/2013 12,346 11,548 11/30/2013 11,805 11,041 12/31/2013 11,804 11,010 1/31/2014 12,005 11,195 2/28/2014 12,659 11,773 3/31/2014 12,699 11,783 4/30/2014 13,180 12,205 5/31/2014 13,527 12,519 6/30/2014 13,714 12,717 7/31/2014 13,714 12,724 Past performance is not predictive of 8/31/2014 14,048 13,028 future performance. 9/30/2014 13,166 12,200 The returns shown do not reflect the 10/31/2014 14,195 13,084 deduction of taxes that a shareholder Average Annual One Five Since would pay on fund distributions or the Total Return Year Years Inception redemption of fund shares. ---------------------------------------------------------------- The S&P data are provided by 14.98% 15.61% 5.62% Standard & 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, 2004-October 31, 2014 [CHART] DFA International Small Cap Value MSCI World ex USA Portfolio Small Cap Index (net dividends) --------------------------------- ------------------------------- 10/31/2004 $10,000 $10,000 11/30/2004 10,875 10,800 12/31/2004 11,437 11,303 1/31/2005 11,756 11,477 2/28/2005 12,313 11,965 3/31/2005 12,197 11,770 4/30/2005 11,959 11,439 5/31/2005 11,781 11,466 6/30/2005 12,057 11,770 7/31/2005 12,516 12,281 8/31/2005 13,004 12,658 9/30/2005 13,308 13,171 10/31/2005 12,999 12,691 11/30/2005 13,240 13,114 12/31/2005 14,093 14,134 1/31/2006 15,126 15,141 2/28/2006 15,158 14,951 3/31/2006 15,881 15,654 4/30/2006 16,540 16,383 5/31/2006 15,746 15,477 6/30/2006 15,452 15,101 7/31/2006 15,396 14,732 8/31/2006 15,789 15,162 9/30/2006 15,939 15,122 10/31/2006 16,637 15,722 11/30/2006 17,441 16,398 12/31/2006 18,095 16,884 1/31/2007 18,577 17,228 2/28/2007 18,913 17,530 3/31/2007 19,735 18,112 4/30/2007 20,320 18,810 5/31/2007 20,708 19,088 6/30/2007 20,621 19,046 7/31/2007 20,569 18,929 8/31/2007 19,725 17,931 9/30/2007 20,135 18,336 10/31/2007 20,929 19,574 11/30/2007 19,228 17,964 12/31/2007 18,628 17,438 1/31/2008 17,399 15,748 2/29/2008 17,780 16,496 3/31/2008 17,945 16,313 4/30/2008 18,251 16,710 5/31/2008 18,651 17,048 6/30/2008 17,022 15,732 7/31/2008 16,266 14,938 8/31/2008 15,742 14,386 9/30/2008 13,476 11,855 10/31/2008 10,543 8,929 11/30/2008 9,959 8,496 12/31/2008 10,864 9,063 1/31/2009 9,948 8,536 2/28/2009 8,855 7,757 3/31/2009 9,432 8,255 4/30/2009 10,962 9,527 5/31/2009 12,471 10,937 6/30/2009 12,430 11,069 7/31/2009 13,587 11,958 8/31/2009 14,764 12,880 9/30/2009 15,460 13,604 10/31/2009 14,910 13,394 11/30/2009 14,980 13,498 12/31/2009 15,156 13,669 1/31/2010 14,865 13,489 2/28/2010 14,724 13,412 3/31/2010 15,920 14,409 4/30/2010 16,121 14,693 5/31/2010 13,951 12,928 6/30/2010 13,671 12,807 7/31/2010 15,000 13,905 8/31/2010 14,300 13,544 9/30/2010 15,905 15,080 10/31/2010 16,403 15,702 11/30/2010 15,936 15,290 12/31/2010 17,900 17,019 1/31/2011 18,274 17,108 2/28/2011 18,805 17,595 3/31/2011 18,899 17,578 4/30/2011 19,711 18,450 5/31/2011 19,034 17,939 6/30/2011 18,619 17,551 7/31/2011 18,261 17,455 8/31/2011 16,524 16,076 9/30/2011 14,575 14,231 10/31/2011 15,684 15,386 11/30/2011 15,177 14,613 12/31/2011 14,774 14,329 1/31/2012 16,253 15,512 2/29/2012 17,221 16,391 3/31/2012 17,243 16,282 4/30/2012 16,764 16,197 5/31/2012 14,632 14,294 6/30/2012 15,354 14,787 7/31/2012 15,310 14,901 8/31/2012 15,872 15,329 9/30/2012 16,614 16,056 10/31/2012 16,769 16,134 11/30/2012 17,001 16,217 12/31/2012 18,062 16,833 1/31/2013 18,989 17,643 2/28/2013 19,102 17,706 3/31/2013 19,490 18,051 4/30/2013 20,044 18,575 5/31/2013 19,649 18,139 6/30/2013 19,051 17,422 7/31/2013 20,471 18,511 8/31/2013 20,219 18,478 9/30/2013 22,178 20,029 10/31/2013 23,106 20,621 11/30/2013 23,140 20,648 12/31/2013 23,911 21,134 1/31/2014 23,582 20,769 2/28/2014 25,204 21,946 3/31/2014 25,368 21,864 4/30/2014 25,262 21,796 5/31/2014 25,462 22,069 6/30/2014 25,862 22,570 7/31/2014 24,954 21,985 Past performance is not predictive of 8/31/2014 25,119 22,039 future performance. 9/30/2014 23,657 20,704 The returns shown do not reflect the 10/31/2014 23,136 20,180 deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. -------------------------------------------------------------- MSCI data copyright MSCI 2014, all 0.13% 9.18% 8.75% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- INTERNATIONAL VECTOR EQUITY PORTFOLIO VS. MSCI WORLD EX USA INDEX (NET DIVIDENDS) August 14, 2008-October 31, 2014 [CHART] International Vector MSCI World ex USA Equity Portfolio Index (net dividends) -------------------- --------------------- 8/14/2008 $10,000 $10,000 8/31/2008 10,050 10,052 9/30/2008 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 1/31/2009 6,065 6,149 2/28/2009 5,392 5,527 3/31/2009 5,903 5,891 4/30/2009 6,919 6,650 5/31/2009 7,985 7,491 6/30/2009 7,932 7,414 7/31/2009 8,715 8,110 8/31/2009 9,274 8,499 9/30/2009 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 1/31/2010 9,377 8,640 2/28/2010 9,357 8,631 3/31/2010 10,099 9,187 4/30/2010 10,120 9,050 5/31/2010 8,870 8,051 6/30/2010 8,736 7,935 7/31/2010 9,659 8,668 8/31/2010 9,254 8,409 9/30/2010 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 1/31/2011 11,660 10,089 2/28/2011 12,050 10,463 3/31/2011 11,881 10,253 4/30/2011 12,482 10,812 5/31/2011 12,071 10,491 6/30/2011 11,823 10,342 7/31/2011 11,545 10,171 8/31/2011 10,519 9,311 9/30/2011 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 1/31/2012 10,238 9,138 2/29/2012 10,780 9,641 3/31/2012 10,780 9,570 4/30/2012 10,514 9,407 5/31/2012 9,219 8,335 6/30/2012 9,745 8,881 7/31/2012 9,700 8,991 8/31/2012 10,038 9,248 9/30/2012 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 1/31/2013 11,755 10,590 2/28/2013 11,652 10,484 3/31/2013 11,784 10,567 4/30/2013 12,218 11,049 5/31/2013 11,944 10,801 6/30/2013 11,564 10,397 7/31/2013 12,305 10,950 8/31/2013 12,213 10,809 9/30/2013 13,183 11,573 10/31/2013 13,648 11,961 11/30/2013 13,682 12,034 12/31/2013 13,989 12,215 1/31/2014 13,612 11,722 2/28/2014 14,448 12,362 3/31/2014 14,414 12,306 4/30/2014 14,555 12,501 5/31/2014 14,685 12,694 6/30/2014 14,923 12,874 7/31/2014 14,493 12,645 8/31/2014 14,553 12,655 9/30/2014 13,757 12,135 Past performance is not predictive of 10/31/2014 13,505 11,942 future performance. The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Since would pay on fund distributions or the Total Return Year Years Inception redemption of fund shares. --------------------------------------------------------------- MSCI data copyright MSCI 2014, all -1.05% 7.51% 4.95% 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, 2014 [CHART] World Ex U.S. MSCI All Country World Value Portfolio ex USA Index (net dividends) ------------------ ----------------------------- 8/23/2010 $10,000 $10,000 8/31/2010 9,890 9,920 9/30/2010 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 1/31/2011 12,122 11,807 2/28/2011 12,385 12,118 3/31/2011 12,311 12,090 4/30/2011 12,899 12,681 5/31/2011 12,433 12,315 6/30/2011 12,238 12,136 7/31/2011 11,920 11,971 8/31/2011 10,670 10,945 9/30/2011 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 1/31/2012 10,422 10,774 2/29/2012 10,984 11,379 3/31/2012 10,811 11,222 4/30/2012 10,436 11,045 5/31/2012 9,177 9,791 6/30/2012 9,755 10,369 7/31/2012 9,703 10,515 8/31/2012 10,041 10,735 9/30/2012 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 1/31/2013 11,720 12,266 2/28/2013 11,442 12,137 3/31/2013 11,460 12,161 4/30/2013 11,899 12,608 5/31/2013 11,696 12,316 6/30/2013 11,154 11,782 7/31/2013 11,796 12,298 8/31/2013 11,666 12,128 9/30/2013 12,556 12,971 10/31/2013 13,026 13,447 11/30/2013 12,993 13,470 12/31/2013 13,201 13,589 1/31/2014 12,652 12,972 2/28/2014 13,289 13,623 3/31/2014 13,361 13,658 4/30/2014 13,527 13,839 5/31/2014 13,760 14,108 6/30/2014 13,969 14,345 7/31/2014 13,778 14,202 8/31/2014 13,857 14,281 9/30/2014 13,101 13,590 Past performance is not predictive of 10/31/2014 12,921 13,455 future performance. The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Since would pay on fund distributions or the Total Return Year Inception redemption of fund shares. ------------------------------------------------------- MSCI data copyright MSCI 2014, all -0.81% 6.31% 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, 2014 [CHART] World Ex U.S. Targeted MSCI All Country World ex USA Value Portfolio Small Cap Index (net dividends) ----------------------- ---------------------------------- 11/1/2012 $10,000 $10,000 11/30/2012 10,120 10,013 12/31/2012 10,735 10,417 1/31/2013 11,157 10,868 2/28/2013 11,147 10,925 3/31/2013 11,278 11,098 4/30/2013 11,549 11,398 5/31/2013 11,298 11,175 6/30/2013 10,766 10,607 7/31/2013 11,376 11,134 8/31/2013 11,193 11,038 9/30/2013 12,191 11,920 10/31/2013 12,690 12,289 11/30/2013 12,629 12,257 12/31/2013 12,872 12,472 1/31/2014 12,497 12,231 2/28/2014 13,185 12,888 3/31/2014 13,404 12,904 4/30/2014 13,404 12,883 5/31/2014 13,633 13,090 6/30/2014 13,888 13,374 7/31/2014 13,616 13,121 8/31/2014 13,773 13,215 Past performance is not predictive of 9/30/2014 12,908 12,464 future performance. 10/31/2014 12,698 12,170 The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Since would pay on fund distributions or the Total Return Year Inception redemption of fund shares. -------------------------------------------------------- MSCI data copyright MSCI 2014, all 0.06% 12.70% 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, 2014 [CHART] World Ex U.S. Core MSCI All Country World Equity Portfolio ex USA Index (net dividends) ------------------ ---------------------------- 4/9/2013 $10,000 $10,000 4/30/2013 10,160 10,415 5/31/2013 9,890 10,174 6/30/2013 9,485 9,733 7/31/2013 9,971 10,159 8/31/2013 9,830 10,019 9/30/2013 10,575 10,715 10/31/2013 10,962 11,108 11/30/2013 10,952 11,127 12/31/2013 11,104 11,225 1/31/2014 10,653 10,715 2/28/2014 11,227 11,254 3/31/2014 11,309 11,282 4/30/2014 11,422 11,431 5/31/2014 11,597 11,654 6/30/2014 11,810 11,850 7/31/2014 11,592 11,732 8/31/2014 11,706 11,797 Past performance is not predictive of 9/30/2014 11,072 11,226 future performance. 10/31/2014 10,957 11,115 The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Since would pay on fund distributions or the Total Return Year Inception redemption of fund shares. --------------------------------------------------------- MSCI data copyright MSCI 2014, all -0.04% 6.03% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- WORLD CORE EQUITY PORTFOLIO VS. MSCI ALL COUNTRY WORLD INDEX (NET DIVIDENDS) March 7, 2012-October 31, 2014 [CHART] MSCI All Country World World Core Equity Portfolio Index (net dividends) ------------------------------- ------------------------- 3/7/2012 $10,000 $10,000 3/31/2012 10,170 10,286 4/30/2012 10,050 10,169 5/31/2012 9,400 9,257 6/30/2012 9,822 9,714 7/31/2012 9,913 9,847 8/31/2012 10,175 10,061 9/30/2012 10,465 10,378 10/31/2012 10,354 10,309 11/30/2012 10,425 10,441 12/31/2012 10,644 10,677 1/31/2013 11,175 11,169 2/28/2013 11,266 11,167 3/31/2013 11,598 11,372 4/30/2013 11,843 11,697 5/31/2013 11,986 11,664 6/30/2013 11,754 11,324 7/31/2013 12,382 11,866 8/31/2013 12,053 11,618 9/30/2013 12,609 12,219 10/31/2013 13,125 12,710 11/30/2013 13,477 12,890 12/31/2013 13,786 13,112 1/31/2014 13,260 12,587 2/28/2014 13,902 13,196 3/31/2014 14,000 13,254 4/30/2014 14,074 13,380 5/31/2014 14,359 13,665 6/30/2014 14,684 13,922 7/31/2014 14,355 13,753 8/31/2014 14,726 14,057 9/30/2014 14,116 13,601 Past performance is not predictive of 10/31/2014 14,222 13,697 future performance. The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Since would pay on fund distributions or the Total Return Year Inception redemption of fund shares. -------------------------------------------------------- MSCI data copyright MSCI 2014, all 8.36% 14.20% rights reserved. -------------------------------------------------------------------------------- 15 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- SELECTIVELY HEDGED GLOBAL EQUITY PORTFOLIO VS. MSCI ALL COUNTRY WORLD INDEX (NET DIVIDENDS) November 14, 2011-October 31, 2014 [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 8/31/2013 12,845 12,451 9/30/2013 13,569 13,094 10/31/2013 14,096 13,621 11/30/2013 14,324 13,813 12/31/2013 14,611 14,052 1/31/2014 14,001 13,490 2/28/2014 14,675 14,141 3/31/2014 14,847 14,204 4/30/2014 14,879 14,339 5/31/2014 15,136 14,644 6/30/2014 15,500 14,920 7/31/2014 15,200 14,739 8/31/2014 15,628 15,065 Past performance is not predictive of 9/30/2014 15,061 14,576 future performance. 10/31/2014 15,200 14,679 The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Since would pay on fund distributions or the Total Return Year Inception redemption of fund shares. ---------------------------------------------------------- MSCI data copyright MSCI 2014, all 7.83% 15.19% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- EMERGING MARKETS PORTFOLIO VS. MSCI EMERGING MARKETS INDEX (NET DIVIDENDS) October 31, 2004-October 31, 2014 [CHART] MSCI Emerging Markets Emerging Markets Portfolio Index (net dividends) -------------------------- --------------------- 10/31/2004 $10,000 $10,000 11/30/2004 10,870 10,926 12/31/2004 11,566 11,450 1/31/2005 11,658 11,480 2/28/2005 12,527 12,481 3/31/2005 11,665 11,656 4/30/2005 11,384 11,343 5/31/2005 11,721 11,738 6/30/2005 12,069 12,137 7/31/2005 12,843 12,985 8/31/2005 12,921 13,097 9/30/2005 13,945 14,316 10/31/2005 13,245 13,380 11/30/2005 14,202 14,487 12/31/2005 15,020 15,343 1/31/2006 16,449 17,057 2/28/2006 16,399 17,037 3/31/2006 16,622 17,187 4/30/2006 17,612 18,411 5/31/2006 15,574 16,482 6/30/2006 15,550 16,442 7/31/2006 15,834 16,677 8/31/2006 16,329 17,102 9/30/2006 16,549 17,244 10/31/2006 17,533 18,063 11/30/2006 18,649 19,406 12/31/2006 19,400 20,280 1/31/2007 19,682 20,061 2/28/2007 19,371 19,942 3/31/2007 20,253 20,737 4/30/2007 21,538 21,697 5/31/2007 22,978 22,771 6/30/2007 23,352 23,839 7/31/2007 23,905 25,096 8/31/2007 23,486 24,563 9/30/2007 25,556 27,276 10/31/2007 28,346 30,317 11/30/2007 26,496 28,168 12/31/2007 26,388 28,267 1/31/2008 24,082 24,740 2/29/2008 24,845 26,566 3/31/2008 24,070 25,160 4/30/2008 25,781 27,202 5/31/2008 25,930 27,706 6/30/2008 23,262 24,943 7/31/2008 22,952 24,002 8/31/2008 21,585 22,085 9/30/2008 18,573 18,220 10/31/2008 13,679 13,234 11/30/2008 12,436 12,237 12/31/2008 13,405 13,192 1/31/2009 12,380 12,340 2/28/2009 11,569 11,644 3/31/2009 13,241 13,317 4/30/2009 15,197 15,533 5/31/2009 17,786 18,187 6/30/2009 17,629 17,942 7/31/2009 19,639 19,960 8/31/2009 19,706 19,888 9/30/2009 21,432 21,694 10/31/2009 20,983 21,720 11/30/2009 22,231 22,654 12/31/2009 23,026 23,548 1/31/2010 21,765 22,235 2/28/2010 22,027 22,313 3/31/2010 23,864 24,114 4/30/2010 24,000 24,407 5/31/2010 21,761 22,260 6/30/2010 21,794 22,096 7/31/2010 23,708 23,936 8/31/2010 23,153 23,471 9/30/2010 25,778 26,080 10/31/2010 26,551 26,837 11/30/2010 25,949 26,129 12/31/2010 28,049 27,993 1/31/2011 27,317 27,234 2/28/2011 27,116 26,980 3/31/2011 28,617 28,566 4/30/2011 29,614 29,452 5/31/2011 28,790 28,680 6/30/2011 28,440 28,238 7/31/2011 28,210 28,113 8/31/2011 25,919 25,601 9/30/2011 21,995 21,868 10/31/2011 24,740 24,765 11/30/2011 23,869 23,114 12/31/2011 23,165 22,836 1/31/2012 25,650 25,426 2/29/2012 27,034 26,949 3/31/2012 26,322 26,049 4/30/2012 25,845 25,738 5/31/2012 23,058 22,852 6/30/2012 24,185 23,734 7/31/2012 24,381 24,197 8/31/2012 24,528 24,116 9/30/2012 25,898 25,571 10/31/2012 25,750 25,416 11/30/2012 26,086 25,739 12/31/2012 27,602 26,997 1/31/2013 27,743 27,369 2/28/2013 27,412 27,026 3/31/2013 27,015 26,560 4/30/2013 27,306 26,760 5/31/2013 26,413 26,074 6/30/2013 24,751 24,414 7/31/2013 25,105 24,669 8/31/2013 24,508 24,245 9/30/2013 26,255 25,822 10/31/2013 27,445 27,076 11/30/2013 27,028 26,681 12/31/2013 26,741 26,295 1/31/2014 24,877 24,587 2/28/2014 25,773 25,402 3/31/2014 26,669 26,182 4/30/2014 26,824 26,269 5/31/2014 27,730 27,186 6/30/2014 28,493 27,908 7/31/2014 28,824 28,448 8/31/2014 29,714 29,089 9/30/2014 27,519 26,933 Past performance is not predictive of 10/31/2014 27,811 27,250 future performance. The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. ------------------------------------------------------- MSCI data copyright MSCI 2014, all 1.33% 5.80% 10.77% rights reserved. -------------------------------------------------------------------------------- 16 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- EMERGING MARKETS SMALL CAP PORTFOLIO VS. MSCI EMERGING MARKETS INDEX (NET DIVIDENDS) October 31, 2004-October 31, 2014 [CHART] Emerging Markets Small Cap MSCI Emerging Markets Portfolio Index (net dividends) ------------------------------- --------------------- 10/31/2004 $10,000 $10,000 11/30/2004 10,947 10,926 12/31/2004 11,527 11,450 1/31/2005 11,847 11,480 2/28/2005 12,598 12,481 3/31/2005 11,719 11,656 4/30/2005 11,288 11,343 5/31/2005 11,509 11,738 6/30/2005 11,800 12,137 7/31/2005 12,447 12,985 8/31/2005 12,528 13,097 9/30/2005 13,349 14,316 10/31/2005 12,698 13,380 11/30/2005 13,604 14,487 12/31/2005 14,495 15,343 1/31/2006 15,895 17,057 2/28/2006 16,062 17,037 3/31/2006 16,355 17,187 4/30/2006 17,683 18,411 5/31/2006 15,822 16,482 6/30/2006 15,124 16,442 7/31/2006 15,471 16,677 8/31/2006 16,009 17,102 9/30/2006 16,452 17,244 10/31/2006 17,692 18,063 11/30/2006 19,038 19,406 12/31/2006 19,903 20,280 1/31/2007 20,277 20,061 2/28/2007 20,459 19,942 3/31/2007 21,365 20,737 4/30/2007 22,997 21,697 5/31/2007 24,822 22,771 6/30/2007 25,564 23,839 7/31/2007 26,806 25,096 8/31/2007 25,689 24,563 9/30/2007 27,454 27,276 10/31/2007 29,513 30,317 11/30/2007 27,146 28,168 12/31/2007 27,470 28,267 1/31/2008 24,157 24,740 2/29/2008 24,856 26,566 3/31/2008 23,679 25,160 4/30/2008 25,127 27,202 5/31/2008 24,968 27,706 6/30/2008 22,091 24,943 7/31/2008 21,744 24,002 8/31/2008 20,431 22,085 9/30/2008 16,740 18,220 10/31/2008 11,660 13,234 11/30/2008 10,947 12,237 12/31/2008 12,489 13,192 1/31/2009 11,528 12,340 2/28/2009 10,821 11,644 3/31/2009 12,309 13,317 4/30/2009 14,802 15,533 5/31/2009 18,192 18,187 6/30/2009 18,102 17,942 7/31/2009 20,398 19,960 8/31/2009 20,641 19,888 9/30/2009 22,362 21,694 10/31/2009 22,337 21,720 11/30/2009 23,642 22,654 12/31/2009 24,945 23,548 1/31/2010 23,841 22,235 2/28/2010 24,252 22,313 3/31/2010 26,323 24,114 4/30/2010 26,747 24,407 5/31/2010 24,048 22,260 6/30/2010 24,684 22,096 7/31/2010 26,949 23,936 8/31/2010 27,079 23,471 9/30/2010 30,358 26,080 10/31/2010 31,568 26,837 11/30/2010 30,710 26,129 12/31/2010 32,475 27,993 1/31/2011 31,098 27,234 2/28/2011 30,181 26,980 3/31/2011 31,854 28,566 4/30/2011 33,528 29,452 5/31/2011 32,759 28,680 6/30/2011 32,493 28,238 7/31/2011 32,860 28,113 8/31/2011 29,735 25,601 9/30/2011 24,447 21,868 10/31/2011 27,140 24,765 11/30/2011 25,814 23,114 12/31/2011 25,129 22,836 1/31/2012 27,962 25,426 2/29/2012 30,245 26,949 3/31/2012 29,455 26,049 4/30/2012 28,751 25,738 5/31/2012 26,115 22,852 6/30/2012 27,115 23,734 7/31/2012 26,775 24,197 8/31/2012 27,470 24,116 9/30/2012 29,076 25,571 10/31/2012 28,962 25,416 11/30/2012 29,460 25,739 12/31/2012 31,271 26,997 1/31/2013 31,847 27,369 2/28/2013 32,172 27,026 3/31/2013 32,021 26,560 4/30/2013 32,672 26,760 5/31/2013 32,198 26,074 6/30/2013 29,413 24,414 7/31/2013 29,547 24,669 8/31/2013 28,313 24,245 9/30/2013 30,380 25,822 10/31/2013 31,546 27,076 11/30/2013 31,097 26,681 12/31/2013 30,839 26,295 1/31/2014 29,520 24,587 2/28/2014 30,824 25,402 3/31/2014 31,882 26,182 4/30/2014 32,143 26,269 5/31/2014 33,231 27,186 6/30/2014 34,086 27,908 7/31/2014 34,163 28,448 Past performance is not predictive of 8/31/2014 35,209 29,089 future performance. 9/30/2014 33,456 26,933 The returns shown do not reflect the 10/31/2014 33,162 27,250 deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. ----------------------------------------------------------- MSCI data copyright MSCI 2014, all 5.12% 8.22% 12.74% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- EMERGING MARKETS VALUE PORTFOLIO -- CLASS R2 VS. MSCI EMERGING MARKETS INDEX (NET DIVIDENDS) January 29, 2008-October 31,2014 Past performance is not predictive of future performance. The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Since would pay on fund distributions or the Total Return Year Years Inception redemption of fund shares. --------------------------------------- MSCI data copyright MSCI 2014, all -1.75% 3.17% 0.46% rights reserved. -------------------------------------------------------------------------------- 17 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- EMERGING MARKETS VALUE PORTFOLIO -- INSTITUTIONAL CLASS VS. MSCI EMERGING MARKETS INDEX (NET DIVIDENDS) October 31, 2004-October 31, 2014 [CHART] Emerging Markets Value Portfolio - MSCI Emerging Markets Institutional Class Index (net dividends) ----------------------- --------------------- 10/31/2004 $10,000 $10,000 11/30/2004 11,082 10,926 12/31/2004 11,794 11,450 1/31/2005 11,987 11,480 2/28/2005 13,080 12,481 3/31/2005 12,124 11,656 4/30/2005 11,692 11,343 5/31/2005 11,861 11,738 6/30/2005 12,251 12,137 7/31/2005 13,142 12,985 8/31/2005 13,351 13,097 9/30/2005 14,422 14,316 10/31/2005 13,520 13,380 11/30/2005 14,517 14,487 12/31/2005 15,428 15,343 1/31/2006 16,902 17,057 2/28/2006 16,967 17,037 3/31/2006 17,540 17,187 4/30/2006 19,070 18,411 5/31/2006 17,002 16,482 6/30/2006 16,848 16,442 7/31/2006 17,246 16,677 8/31/2006 17,559 17,102 9/30/2006 17,915 17,244 10/31/2006 19,158 18,063 11/30/2006 20,559 19,406 12/31/2006 21,280 20,280 1/31/2007 21,607 20,061 2/28/2007 21,727 19,942 3/31/2007 22,858 20,737 4/30/2007 24,679 21,697 5/31/2007 26,554 22,771 6/30/2007 27,308 23,839 7/31/2007 28,602 25,096 8/31/2007 27,679 24,563 9/30/2007 30,173 27,276 10/31/2007 33,484 30,317 11/30/2007 31,040 28,168 12/31/2007 30,991 28,267 1/31/2008 27,905 24,740 2/29/2008 29,020 26,566 3/31/2008 28,043 25,160 4/30/2008 30,206 27,202 5/31/2008 30,464 27,706 6/30/2008 26,920 24,943 7/31/2008 26,392 24,002 8/31/2008 24,131 22,085 9/30/2008 19,968 18,220 10/31/2008 13,767 13,234 11/30/2008 12,722 12,237 12/31/2008 14,274 13,192 1/31/2009 12,986 12,340 2/28/2009 11,883 11,644 3/31/2009 13,938 13,317 4/30/2009 16,679 15,533 5/31/2009 20,431 18,187 6/30/2009 20,179 17,942 7/31/2009 22,885 19,960 8/31/2009 23,055 19,888 9/30/2009 25,182 21,694 10/31/2009 24,586 21,720 11/30/2009 26,152 22,654 12/31/2009 27,447 23,548 1/31/2010 25,884 22,235 2/28/2010 26,085 22,313 3/31/2010 28,381 24,114 4/30/2010 28,564 24,407 5/31/2010 25,570 22,260 6/30/2010 25,730 22,096 7/31/2010 28,110 23,936 8/31/2010 27,601 23,471 9/30/2010 30,914 26,080 10/31/2010 31,972 26,837 11/30/2010 30,932 26,129 12/31/2010 33,501 27,993 1/31/2011 32,454 27,234 2/28/2011 31,908 26,980 3/31/2011 33,742 28,566 4/30/2011 34,946 29,452 5/31/2011 33,612 28,680 6/30/2011 32,924 28,238 7/31/2011 32,645 28,113 8/31/2011 29,331 25,601 9/30/2011 24,065 21,868 10/31/2011 27,227 24,765 11/30/2011 25,848 23,114 12/31/2011 24,919 22,836 1/31/2012 28,375 25,426 2/29/2012 30,103 26,949 3/31/2012 28,807 26,049 4/30/2012 27,866 25,738 5/31/2012 24,785 22,852 6/30/2012 25,905 23,734 7/31/2012 25,741 24,197 8/31/2012 26,098 24,116 9/30/2012 27,777 25,571 10/31/2012 27,417 25,416 11/30/2012 27,718 25,739 12/31/2012 29,744 26,997 1/31/2013 30,223 27,369 2/28/2013 29,714 27,026 3/31/2013 29,460 26,560 4/30/2013 29,719 26,760 5/31/2013 28,871 26,074 6/30/2013 26,440 24,414 7/31/2013 26,953 24,669 8/31/2013 26,380 24,245 9/30/2013 28,329 25,822 10/31/2013 29,613 27,076 11/30/2013 28,895 26,681 12/31/2013 28,613 26,295 1/31/2014 26,613 24,587 2/28/2014 27,203 25,402 3/31/2014 28,416 26,182 4/30/2014 28,602 26,269 5/31/2014 29,763 27,186 6/30/2014 30,539 27,908 7/31/2014 31,110 28,448 Past performance is not predictive of 8/31/2014 31,806 29,089 future performance. 9/30/2014 29,197 26,933 The returns shown do not reflect the 10/31/2014 29,166 27,250 deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. ---------------------------------------------------------- MSCI data copyright MSCI 2014, all -1.51% 3.48% 11.30% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- EMERGING MARKETS CORE EQUITY PORTFOLIO VS. MSCI EMERGING MARKETS INDEX (NET DIVIDENDS) April 5, 2005-October 31, 2014 [CHART] Emerging Markets Core Equity MSCI Emerging Markets 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 8/31/2013 21,178 20,694 9/30/2013 22,690 22,040 10/31/2013 23,668 23,111 11/30/2013 23,279 22,773 12/31/2013 23,072 22,444 1/31/2014 21,614 20,986 2/28/2014 22,397 21,681 3/31/2014 23,215 22,347 4/30/2014 23,381 22,422 5/31/2014 24,151 23,204 6/30/2014 24,779 23,821 7/31/2014 25,005 24,281 8/31/2014 25,779 24,828 9/30/2014 23,984 22,988 Past performance is not predictive of 10/31/2014 24,116 23,259 future performance. The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Since would pay on fund distributions or the Total Return Year Years Inception redemption of fund shares. ------------------------------------------------------------ MSCI data copyright MSCI 2014, all 1.89% 5.94% 9.63% rights reserved. -------------------------------------------------------------------------------- 18 DFA INVESTMENT DIMENSIONS GROUP INC. MANAGEMENT'S DISCUSSION AND ANALYSIS (Unaudited) U.S. Equity Market Review 12 Months Ended October 31, 2014 U.S. equities had strong gains during the period. The broad U.S. equity market, as measured by the Russell 3000(R) Index, had positive returns in 9 of the 12 months. As measured by the Russell indices, large cap stocks outperformed small cap stocks. Total Return for 12 Months Ended October 31, 2014 ------------------------------------------------- Russell 3000(R) Index........................ 16.07% Russell Microcap(R) Index (micro cap stocks). 7.34% Russell 2000(R) Index (small cap stocks)..... 8.06% Russell 1000(R) Index (large cap stocks)..... 16.78% Dow Jones U.S. Select REIT Index /SM/........ 20.69% Growth stocks slightly outperformed value stocks as measured by the Russell indices. Total Return for 12 Months Ended October 31, 2014 ------------------------------------------------- Russell 2000(R) Value Index (small cap value stocks)... 7.89% Russell 2000(R) Growth Index (small cap growth stocks). 8.26% Russell 1000(R) Value Index (large cap value stocks)... 16.46% Russell 1000(R) Growth Index (large cap growth stocks). 17.11% Source: Russell data copyright (C) Russell Investment Group 1995-2014, 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 period 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, 2014, 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. For the 12 months ended October 31, 2014, the total returns were 17.18% for the Portfolio and 17.27% 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 net return of the fixed income component was slightly less than 19 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 is designed to capture the returns of U.S. large company stocks. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2014, the Portfolio held approximately 920 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, 2014, total returns were 16.19% for the Portfolio and 16.78% for the Russell 1000(R) Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio emphasizes mid-cap stocks, value stocks, primarily measured by book-to-market ratio and stocks with high profitability. Stocks with smaller relative capitalization and value stocks generally underperformed during the period and contributed to underperformance in the Portfolio relative to the Index. The Portfolio's exclusion of real estate investment trusts (REITs) detracted from relative performance as REITs outperformed during the period. U.S. Large Cap Value Portfolio The U.S. Large Cap Value Portfolio is designed 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, 2014, the Master Fund held approximately 260 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, 2014, total returns were 15.49% for the Portfolio and 16.46% for the Russell 1000(R) Value Index. As a result of the Master Fund's diversified investment approach, performance was determined principally by broad trends in the U.S. equity market rather than the behavior of a limited number of stocks. The Master Fund excludes real estate investment trusts (REITs) and highly regulated utilities from eligibility while the Index holds stocks in these sectors. REITs and utilities generally outperformed other sectors during the period, which detracted from the Portfolio's relative performance as compared to the Index. Lower book to market stocks outperformed higher book to market stocks within the index. The Master Fund had less weight than the index in lower book to market stocks, which detracted from relative performance. 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, 2014, the Portfolio held approximately 1,540 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, 2014, total returns were 9.47% for the Portfolio's Class R1 shares, 9.30% for the Portfolio's Class R2 shares, 9.58% for the Portfolio's Institutional Class shares, and 7.89% for the Russell 2000(R) Value Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad trends in the U.S. equity market, rather than the behavior of a limited number of stocks. Mid-cap value stocks significantly outperformed small cap value stocks during the period. The Portfolio had a greater weight than the Index in mid-cap value stocks and less weight in small cap value stocks, and these differences were the primary driver of the Portfolio's relative outperformance. U.S. Small Cap Value Portfolio The U.S. Small Cap Value Portfolio is designed 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 diversification. As of October 31, 2014, the Portfolio held approximately 1,270 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. 20 For the 12 months ended October 31, 2014, total returns were 9.49% for the Portfolio and 7.89% for the Russell 2000(R) Value Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio had a greater allocation to larger small cap stocks than the Index, and the outperformance of these stocks was a contributor to the Portfolio's relative outperformance. U.S. Core Equity 1 Portfolio The U.S. Core Equity 1 Portfolio invests in a broadly diversified group of securities within the U.S. market with increased exposure to smaller company stocks and value stocks relative to the market. Value is measured primarily by book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2014, the Portfolio held approximately 2,850 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, 2014, total returns were 14.72% for the Portfolio and 16.07% for the Russell 3000(R) Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio had a greater allocation than the Index to small cap stocks and less weight in large cap stocks, which contributed to the Portfolio's relative underperformance as small cap stocks strongly underperformed large cap stocks during the period. The Portfolio's exclusion of real estate investment trusts (REITs) also detracted from the Portfolio's relative performance as REITs outperformed most other sectors during the period. U.S. Core Equity 2 Portfolio The U.S. Core Equity 2 Portfolio invests in a broadly diversified group of securities within the U.S. market with increased exposure to smaller company stocks and value stocks relative to the U.S. Core Equity 1 Portfolio and the market. Value is measured primarily by book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2014, the Portfolio held approximately 2,860 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, 2014, total returns were 13.78% for the Portfolio and 16.07% for the Russell 3000(R) Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio had a greater allocation than the Index to small cap stocks and less weight in large cap stocks, which contributed to the Portfolio's relative underperformance as small cap stocks strongly underperformed large cap stocks during the period. The portfolio generally excludes real estate investment trusts (REITs), and the resulting lower relative weighting in these companies detracted as REITs outperformed other U.S. stocks during the period. U.S. Vector Equity Portfolio The U.S. Vector Equity Portfolio invests in a broadly diversified group of U.S. stocks with increased exposure to smaller company stocks and value stocks relative to the market. Value is measured primarily by book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2014, the Portfolio held approximately 2,720 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, 2014, total returns were 11.91% for the Portfolio and 16.07% for the Russell 3000(R) Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio had a greater allocation than the Index to small cap stocks and less weight in large cap stocks, which contributed to the Portfolio's relative underperformance as small cap stocks strongly underperformed large cap stocks during the period. The portfolio generally excludes real estate investment trusts (REITs), and the resulting lower relative weighting in these companies detracted as REITs outperformed other U.S. stocks during the period. U.S. Small Cap Portfolio The U.S. Small Cap Portfolio is designed to capture the returns of U.S. small company stocks. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2014, the Portfolio held 21 approximately 2,110 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, 2014, total returns were 8.67% for the Portfolio and 8.06% for the Russell 2000(R) Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio excluded certain stocks with low profitability that were held by the Index. The resulting higher weight in stocks with higher profitability contributed to the Portfolio's relative outperformance. U.S. Micro Cap Portfolio The U.S. Micro Cap Portfolio is designed 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, 2014, the Portfolio held approximately 1,750 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, 2014, total returns were 7.88% for the Portfolio and 8.06% for the Russell 2000(R) Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad 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 a broader range of small cap stocks including those with the larger relative capitalization. Micro cap stocks generally underperformed companies with larger capitalization within the small cap universe during the period, which detracted from the Portfolio's relative performance. The Portfolio's exclusion of real estate investment trusts (REITs) also detracted from the Portfolio's relative performance as REITs outperformed most other sectors during the period. DFA Real Estate Securities Portfolio The DFA Real Estate Securities Portfolio is designed to capture the returns of a broadly diversified portfolio of U.S. real estate securities. As of October 31, 2014, the Portfolio held approximately 130 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, 2014, total returns were 19.80% for the Portfolio, 20.69% for the Dow Jones U.S. Select REIT Index /SM/, and 17.27% for the S&P 500(R) Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad trends in the U.S. real estate securities market rather than the behavior of a limited number of securities. The Portfolio held net lease REITs not eligible in the Dow Jones U.S. Select REIT Index /SM/. These securities -- particularly in specialized REITs, retail REITs and diversified REITs -- generally underperformed the overall Index and were a primary driver of the Portfolio's relative underperformance. International Equity Market Review 12 Months Ended October 31, 2014 Performance of non-U.S. developed markets was generally negative for the period. As a group, only large cap growth stocks had positive returns. As measured by the MSCI world ex USA indices, large cap stocks outperformed small cap stocks, and growth stocks outperformed value stocks. 12 Months Ended October 31, 2014 -------------------------------- Return in U.S. Dollars - ---------------------- MSCI World ex USA Index........... -0.15% MSCI World ex USA Small Cap Index. -2.14% MSCI World ex USA Value Index..... -0.62% MSCI World ex USA Growth Index.... 0.31% During the period, the U.S. dollar (USD) appreciated against developed markets currencies, detracting from USD-denominated returns of non-U.S. securities in developed markets. 22 12 Months Ended October 31, 2014 -------------------------------- Ten Largest Foreign Developed Markets by Market Cap Local Return Return in U.S. Dollars --------------------------------------------------- ------------ ---------------------- United Kingdom.................... 0.55% 0.12% Japan............................. 13.47% -0.70% Canada............................ 12.71% 4.26% France............................ 1.34% -6.61% Switzerland....................... 9.61% 3.13% Germany........................... 2.52% -5.52% Australia......................... 6.74% -0.92% Spain............................. 10.44% 1.78% Hong Kong......................... 10.24% 10.21% Sweden............................ 13.18% -1.03% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2014, all rights reserved. Emerging markets generally had stronger performance over the period than developed markets with positive returns in each market segment except large cap value. As measured by the MSCI emerging markets indices, small cap stocks outperformed large cap stocks, and growth stocks outperformed value stocks. 12 Months Ended October 31, 2014 -------------------------------- Return in U.S. Dollars - ---------------------- MSCI Emerging Markets Index........... 0.64% MSCI Emerging Markets Small Cap Index. 3.18% MSCI Emerging Markets Value Index..... -0.63% MSCI Emerging Markets Growth Index.... 1.89% During the period, the U.S. dollar (USD) generally appreciated against most emerging markets currencies, particularly those in Eastern Europe, decreasing USD denominated returns in emerging markets. 12 Months Ended October 31, 2014 -------------------------------- Ten Largest Emerging Markets by Market Cap Local Return Return in U.S. Dollars ------------------------------------------ ------------ ---------------------- China........................ 6.44% 6.41% Korea........................ -6.24% -6.94% Taiwan....................... 13.99% 10.11% Brazil....................... -0.30% -9.65% South Africa................. 17.13% 6.09% India........................ 29.27% 29.39% Mexico....................... 10.96% 6.98% Russia....................... -4.56% -24.40% Malaysia..................... 3.85% -0.37% Indonesia.................... 17.88% 9.95% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2014, all rights reserved. Global Real Estate Market Review 12 Months Ended October 31, 2014 Publicly traded global real estate investment trusts (REITs) produced positive overall returns during the period. In most of the world, REITs outperformed equities and fixed income. The U.S. REIT market, the world's largest, had the highest returns, followed closely by Hong Kong and the U.K. Only a few of the smallest REIT markets failed to deliver positive returns. As measured by the S&P Global REIT Index, residential REITs and hotel and resort REITs had the biggest gains. Diversified REITs had the weakest performance but still delivered positive returns. 23 12 Months Ended October 31, 2014 Return in U.S. Dollars - ---------------------- S&P Global ex U.S. REIT Index (net dividends). 6.81% S&P Global REIT Index (net dividends)......... 13.30% ---------- Source: Standard and Poor's. Copyright S&P, 2014. 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, 2014, 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, 2014, total returns were 0.47% for the Portfolio and -0.15% 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 trends in the international equity markets rather than by the behavior of a limited number of stocks. For the period, the Portfolio's relative outperformance was primarily attributable to differences in the valuation timing and methodology between the Portfolio and the Index. 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 Core Equity Portfolio The International Core Equity Portfolio invests in a broadly diversified group of international stocks, with increased exposure to smaller company stocks and those with value characteristics as measured by book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2014, the Portfolio held approximately 4,800 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, 2014, total returns were -0.55% for the Portfolio and -0.15% 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 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 underperformed international large cap and mid-cap stocks during the period, and the Portfolio's exposure to small cap stocks detracted from the Portfolio's performance relative to the Index. The Portfolio's greater exposure than the Index to value stocks also detracted from the Portfolio's relative performance as value stocks generally underperformed during the period. In particular, the Portfolio's emphasis on value stocks resulted in a lower allocation to healthcare stocks, which was the best performing sector and detracted from the Portfolio's relative performance. International Small Company Portfolio The International Small Company Portfolio is designed 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, 2014, the Master Funds collectively held approximately 4,150 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. 24 For the 12 months ended October 31, 2014, total returns were -1.09% for the Portfolio and -2.14% 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 trends in international equity markets rather than the behavior of a limited number of stocks. The Master Funds excluded a number of growth-oriented small cap stocks with low profitability that were held by the Index. These stocks generally underperformed, contributing to the Portfolio's relative outperformance. This was partially offset by the Master Funds' exclusion of real estate investment trusts (REITs) which outperformed and detracted from the Portfolio's relative performance. Differences in the valuation timing and methodology between the Master Funds and the Index also generally contributed to the Portfolio's relative performance. The Master Funds price foreign exchange rates at the closing of the U.S. markets while the Index uses rates at 4 pm London time. The Master Funds 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. Japanese Small Company Portfolio The Japanese Small Company Portfolio is designed 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, 2014, 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, 2014, total returns were 2.00% for the Portfolio and -0.24% for the MSCI Japan Small Cap Index (net dividends). As a result of the Master Fund's diversified investment approach, performance was determined principally by broad trends in the Japanese equity market, rather than the behavior of a limited number of stocks. The Master Fund's greater exposure than the Index to micro cap stocks contributed to relative outperformance as micro caps generally outperformed during the period. This was partially offset by the Master Fund's exclusion of real estate investment trusts (REITs), which outperformed and detracted from the Portfolio's relative performance. Differences in the valuation timing and methodology between the Master Fund and the Index also benefited 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. Asia Pacific Small Company Portfolio The Asia Pacific Small Company Portfolio is designed 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, 2014, the Master Fund held approximately 880 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, 2014, total returns were -3.84% for the Portfolio and -4.93% 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 trends in Asia Pacific equity markets rather than the behavior of a limited number of stocks. The Master Fund's exclusion of growth-oriented small cap stocks with low profitability contributed to relative performance as these stocks generally underperformed. This was partially offset by the Master Fund's exclusion of real estate investment trusts (REITs), which outperformed and detracted from the Master Fund's relative performance. In addition, differences in the valuation timing and methodology between the Master Fund and the Index benefited 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. 25 United Kingdom Small Company Portfolio The United Kingdom Small Company Portfolio is designed 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, 2014, the Master Fund held approximately 320 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, 2014, total returns were 0.73% for the Portfolio and -0.49% 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 trends in the U.K. equity market, rather than the behavior of a limited number of stocks. The Master Fund excludes a number of growth-oriented small cap stocks with low profitability that were held by the Index. These stocks generally underperformed, contributing to the Portfolio's relative outperformance. Continental Small Company Portfolio The Continental Small Company Portfolio is designed 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, 2014, the Master Fund held approximately 1,180 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, 2014, total returns were -2.68% for the Portfolio and -3.31% 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 trends in the continental European (excluding the U.K.) and Israeli equity markets, rather than the behavior of a limited number of stocks. For the period, the Portfolio's relative outperformance was primarily attributable to differences in the valuation timing and methodology between the Master Fund and 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. 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, 2014, the Portfolio held approximately 240 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, 2014, total returns were 8.21% for the Portfolio and 6.81% 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 broad 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 relative outperformance. The Portfolio excludes certain securities from eligibility that the Index holds, such as initial public offerings and companies with a limited operating history. These securities generally underperformed and the exclusion of these securities by the Portfolio had a beneficial impact on the relative performance in the Portfolio. 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, 2014, 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 370 securities in 26 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. For the 12 months ended October 31, 2014, total returns were 14.98% for the Portfolio and 13.30% for the S&P Global REIT Index (net dividends). As a result of the Portfolio's diversified approach, performance was principally determined by broad trends in global real estate securities markets rather than the behavior of a limited number of stocks. Withholding tax rate differences between the Portfolio and the Index were a primary driver of the Portfolio's relative outperformance. The Portfolio excludes certain securities from eligibility that the Index holds, such as initial public offerings and companies with a limited operating history. These securities generally underperformed and the exclusion of these securities by the Portfolio had a beneficial impact on the relative performance in the Portfolio. DFA International Small Cap Value Portfolio The DFA International Small Cap Value Portfolio is designed to capture the returns of international small 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, 2014, the Portfolio held approximately 2,160 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, 2014, total returns were 0.13% for the Portfolio and -2.14% 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 trends in international equity markets rather than the behavior of a limited number of stocks. The Portfolio held a number of companies within the United Kingdom that were not in the Index due to differences in construction methodology. These companies outperformed, contributing to the Portfolio's relative outperformance. Within the small cap universe, the Portfolio's greater exposure to stocks with smaller capitalization within small cap universe also contributed to the Portfolio's relative outperformance as these stocks generally outperformed during the period. Differences in the valuation timing and methodology between the Portfolio and the Index also generally contributed to the Portfolio's relative outperformance. 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 Vector Equity Portfolio The International Vector Equity Portfolio is designed to capture the returns of a broadly diversified basket of international stocks with increased exposure to smaller company stocks and those with value characteristics as measured by book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2014, 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, 2014, total returns were -1.05% for the Portfolio and -0.15% 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 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, other than growth-oriented mega cap securities, while the Index primarily holds large cap and mid-cap stocks. International small cap stocks generally underperformed international large cap and mid-cap stocks during the period, and the Portfolio's exposure to small cap stocks contributed to underperformance relative to the Index. The Portfolio's greater exposure than the Index to value stocks, particularly those in Canada, also detracted from relative performance as value stocks generally underperformed during the period. World ex U.S. Value Portfolio The World ex U.S. Value Portfolio is designed 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 27 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, 2014, the Underlying Funds collectively held approximately 4,800 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, 2014, total returns were -0.81% for the Portfolio and 0.06% 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 trends in the international and emerging equity markets rather than the behavior of a limited number of stocks. Underlying Funds, had greater exposure than the Index to value stocks. Value stocks, as measured by book-to-market ratios, generally underperformed during the period, which detracted from the Portfolio's relative performance. 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 underperformed large and mid-caps during the period, and the Portfolio's greater exposure to small caps detracted from the Portfolio's relative performance. The Underlying Funds' exclusion of real estate investment trusts (REITs) also detracted from the Portfolio's relative performance as REITs outperformed during the period. World ex U.S. Targeted Value Portfolio The World ex U.S. Targeted Value Portfolio is designed to capture the returns of small and mid-cap value stocks in international developed and emerging markets. The Portfolio may pursue its objective by holding direct securities, by purchasing shares of 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"), or by a combination of securities and Underlying Funds. For the 12 months ended October 31, 2014, the Portfolio only held Underlying Funds. Value is measured primarily by book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2014, the Underlying Funds collectively held approximately 8,300 securities. In general, cash exposure was low throughout the period with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2014, total returns were 0.06% for the Portfolio and -0.97% 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 trends in the international equity markets rather than by the behavior of a limited number of stocks. The Underlying Funds' greater exposure than the Index to mid-cap stocks and value stocks, particularly in the United Kingdom, contributed to the Portfolio's relative outperformance. Due to differences in methodology, the two emerging markets Underlying Funds had a greater exposure than the Index to India, the highest-performing eligible market during the period, which contributed to relative performance. World ex U.S. Core Equity Portfolio The World ex U.S. Core Equity Portfolio is designed 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 as measured by book-to-market ratio. The Portfolio may pursue its objective by holding direct securities, by purchasing shares of funds managed by Dimensional: The International Core Equity Portfolio and the Emerging Markets Core Equity Portfolio (the "Underlying Funds"), or a combination of securities and Underlying Funds. For the 12 months ended October 31, 2014, the Portfolio only held Underlying Funds. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2014, the Underlying Funds collectively held approximately 8,800 securities in 43 eligible developed and emerging markets. In general, cash exposure was low throughout the period with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2014, total returns were -0.04% for the Portfolio and 0.06% 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 trends in the international equity markets rather than by the behavior of a limited number of stocks. The Underlying Funds invest across all size categories while the Index primarily holds large and mid-cap stocks. Small cap stocks generally underperformed during the period, and the Underlying Funds' exposure to small cap stocks, particularly in Canada, contributed to the Portfolio's relative underperformance. The Underlying Funds' greater exposure than the Index to value stocks, as measured by book-to-market ratios also detracted from the Portfolio's relative performance as value stocks underperformed during the period. 28 World Core Equity Portfolio The World Core Equity Portfolio 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 October 31, 2014, the Portfolio's investments include the U.S. Core Equity 1 Portfolio, International Core Equity Portfolio, and Emerging Markets Core Equity Portfolio (collectively, the "Underlying Funds"). The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2014, the Underlying Funds collectively held approximately 11,700 equity securities in 44 countries. For the 12 months ended October 31, 2014, total returns were 8.36% for the Portfolio and 7.77% 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 trends in global equity markets rather than the behavior of a limited group of stocks. The Underlying Funds had greater exposure than the Index to U.S. stocks, which was the primary contributor to relative outperformance as the U.S. was among the best-performing world markets during the period. The Underlying Funds had less exposure than the Index to emerging markets, which benefited relative performance as emerging markets generally 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 October 31, 2014, the mutual funds invested in by 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, 2014, the Underlying Funds collectively held approximately 11,700 equity securities in 44 countries. For the 12 months ended October 31, 2014, total returns were 7.83% for the Portfolio and 7.77% 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 trends in global equity markets rather than the behavior of a limited group of stocks in a particular industry or country. The Portfolio's currency hedging in Japanese yen, euro, Swiss franc, and Danish krone benefited the Portfolio's performance relative to the Index. This was somewhat offset by the Portfolio's greater exposure than the Index to small cap stocks and emerging markets, which underperformed during the period and detracted from the Portfolio's relative performance. Emerging Markets Portfolio The Emerging Markets Portfolio is designed to capture the returns of large cap stocks in selected emerging markets countries by purchasing shares of The Emerging Markets Series, a Master Fund managed by Dimensional that invests in such securities. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2014, the Master Fund held approximately 1,100 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, 2014, total returns were 1.33% for the Portfolio and 0.64% for the MSCI Emerging Markets Index (net dividends). As a result of the Master Fund's diversified approach, performance was generally determined by broad trends in emerging markets rather than the behavior of a limited number of stocks. The Portfolio's relative performance benefited from the Master Fund's lower weight than the Index in Russia, among the lowest performing emerging markets during the period, and higher weight in India and Taiwan, among the best performing emerging markets during the period. The Master Fund excludes certain countries from eligibility that the Index holds, such as the UAE and Qatar. Both of these countries underperformed, and their exclusion contributed to the Portfolio's relative outperformance. Emerging Markets Small Cap Portfolio The Emerging Markets Small Cap Portfolio is designed 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 managed by Dimensional that invests in such securities. The Master Fund's investment strategy is process driven, 29 emphasizing broad diversification. As of October 31, 2014, the Master Fund held approximately 3,200 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, 2014, total returns were 5.12% for the Portfolio and 0.64% for the MSCI Emerging Markets Index (net dividends). As a result of the Master Fund's diversified approach, performance was principally determined by broad 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 outperformed emerging markets large caps over the period, and the Master Fund's greater exposure to small cap stocks, particularly those in India, contributed to relative outperformance. During the year ended October 31, 2014, the Master Fund did not invest in certain countries that the Index holds, such as the UAE, Qatar, and Russia. Russia underperformed significantly and, as it was excluded from the Master Fund, contributed to the Portfolio's relative performance. Emerging Markets Value Portfolio The Emerging Markets Value Portfolio is designed 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, a Master Fund managed by Dimensional 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, 2014, 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, 2014, total returns were -1.75% for the Portfolio's Class R2 shares, -1.51% for the Portfolio's Institutional Class shares, and 0.64% 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 trends in emerging markets rather than the behavior of a limited number of stocks. The Master Fund invests primarily in value stocks, as measured by book-to-market ratios, while the Index is neutral with regard to value stocks. Emerging markets value stocks generally underperformed during the period, which was the primary driver of the Portfolio's relative underperformance. Emerging Markets Core Equity Portfolio The Emerging Markets Core Equity Portfolio is designed 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, 2014, the Portfolio held approximately 4,000 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, 2014, total returns were 1.89% for the Portfolio and 0.64% for the MSCI Emerging Markets Index (net dividends). As a result of the Portfolio's diversified approach, performance was generally determined by broad 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, particularly those in India, contributed to the Portfolio's relative outperformance. The Portfolio's smaller allocation than the Index to Russia, among the lowest performing emerging markets during the period, also contributed to the Portfolio's relative outperformance. 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, 2014 EXPENSE TABLES Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- Enhanced U.S. Large Company Portfolio ------------------------------------- Actual Fund Return Institutional Class Shares........... $1,000.00 $1,081.40 0.23% $1.21 Hypothetical 5% Annual Return Institutional Class Shares........... $1,000.00 $1,024.05 0.23% $1.17 31 DISCLOSURE OF FUND EXPENSES CONTINUED Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- U.S. Large Cap Equity Portfolio ------------------------------- Actual Fund Return Institutional Class Shares...... $1,000.00 $1,070.80 0.19% $0.99 Hypothetical 5% Annual Return Institutional Class Shares...... $1,000.00 $1,024.25 0.19% $0.97 U.S. Large Cap Value Portfolio** -------------------------------- Actual Fund Return Institutional Class Shares...... $1,000.00 $1,056.10 0.27% $1.40 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 $1,018.80 0.47% $2.39 Class R2 Shares................. $1,000.00 $1,018.20 0.62% $3.15 Institutional Class Shares...... $1,000.00 $1,018.90 0.37% $1.88 Hypothetical 5% Annual Return Class R1 Shares................. $1,000.00 $1,022.84 0.47% $2.40 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 $1,021.90 0.52% $2.65 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 $1,062.50 0.19% $0.99 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 $1,054.20 0.22% $1.14 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 $1,042.80 0.32% $1.65 Hypothetical 5% Annual Return Institutional Class Shares...... $1,000.00 $1,023.59 0.32% $1.63 32 DISCLOSURE OF FUND EXPENSES CONTINUED Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- U.S. Small Cap Portfolio ------------------------ Actual Fund Return Institutional Class Shares.............. $1,000.00 $1,039.60 0.37% $1.90 Hypothetical 5% Annual Return Institutional Class Shares.............. $1,000.00 $1,023.34 0.37% $1.89 U.S. Micro Cap Portfolio ------------------------ Actual Fund Return Institutional Class Shares.............. $1,000.00 $1,032.70 0.52% $2.66 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 $1,104.30 0.18% $0.95 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 $ 957.20 0.28% $1.38 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 $ 938.50 0.38% $1.86 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 $ 919.10 0.53% $2.56 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 $1,047.00 0.54% $2.79 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 $ 961.70 0.55% $2.72 Hypothetical 5% Annual Return Institutional Class Shares.............. $1,000.00 $1,022.43 0.55% $2.80 33 DISCLOSURE OF FUND EXPENSES CONTINUED Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- United Kingdom Small Company Portfolio** ---------------------------------------- Actual Fund Return Institutional Class Shares........................ $1,000.00 $ 921.90 0.58% $2.81 Hypothetical 5% Annual Return Institutional Class Shares........................ $1,000.00 $1,022.28 0.58% $2.96 Continental Small Company Portfolio** ------------------------------------- Actual Fund Return Institutional Class Shares........................ $1,000.00 $ 848.90 0.55% $2.56 Hypothetical 5% Annual Return Institutional Class Shares........................ $1,000.00 $1,022.43 0.55% $2.80 DFA International Real Estate Securities Portfolio -------------------------------------------------- Actual Fund Return Institutional Class Shares........................ $1,000.00 $1,036.80 0.38% $1.95 Hypothetical 5% Annual Return Institutional Class Shares........................ $1,000.00 $1,023.29 0.38% $1.94 DFA Global Real Estate Securities Portfolio*** ---------------------------------------------- Actual Fund Return Institutional Class Shares........................ $1,000.00 $1,077.00 0.32% $1.68 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 $ 915.80 0.68% $3.28 Hypothetical 5% Annual Return Institutional Class Shares........................ $1,000.00 $1,021.78 0.68% $3.47 International Vector Equity Portfolio ------------------------------------- Actual Fund Return Institutional Class Shares........................ $1,000.00 $ 927.80 0.49% $2.38 Hypothetical 5% Annual Return Institutional Class Shares........................ $1,000.00 $1,022.74 0.49% $2.50 World ex U.S. Value Portfolio*** -------------------------------- Actual Fund Return Institutional Class Shares........................ $1,000.00 $ 955.20 0.54% $2.66 Hypothetical 5% Annual Return Institutional Class Shares........................ $1,000.00 $1,022.48 0.54% $2.75 World ex U.S. Targeted Value Portfolio*** ----------------------------------------- Actual Fund Return Institutional Class Shares........................ $1,000.00 $ 947.30 0.68% $3.34 Hypothetical 5% Annual Return Institutional Class Shares........................ $1,000.00 $1,021.78 0.68% $3.47 34 DISCLOSURE OF FUND EXPENSES CONTINUED Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- World ex U.S. Core Equity Portfolio*** -------------------------------------- Actual Fund Return Institutional Class Shares................... $1,000.00 $ 959.30 0.47% $2.32 Hypothetical 5% Annual Return Institutional Class Shares................... $1,000.00 $1,022.84 0.47% $2.40 World Core Equity Portfolio*** ------------------------------ Actual Fund Return Institutional Class Shares................... $1,000.00 $1,010.60 0.35% $1.77 Hypothetical 5% Annual Return Institutional Class Shares................... $1,000.00 $1,023.44 0.35% $1.79 Selectively Hedged Global Equity Portfolio*** --------------------------------------------- Actual Fund Return Institutional Class Shares................... $1,000.00 $1,021.60 0.40% $2.04 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 $1,036.80 0.56% $2.87 Hypothetical 5% Annual Return Institutional Class Shares................... $1,000.00 $1,022.38 0.56% $2.85 Emerging Markets Small Cap Portfolio** -------------------------------------- Actual Fund Return Institutional Class Shares................... $1,000.00 $1,031.70 0.72% $3.69 Hypothetical 5% Annual Return Institutional Class Shares................... $1,000.00 $1,021.58 0.72% $3.67 Emerging Markets Value Portfolio** ---------------------------------- Actual Fund Return Class R2 Shares.............................. $1,000.00 $1,018.90 0.80% $4.07 Institutional Class Shares................... $1,000.00 $1,019.70 0.55% $2.80 Hypothetical 5% Annual Return Class R2 Shares.............................. $1,000.00 $1,021.17 0.80% $4.08 Institutional Class Shares................... $1,000.00 $1,022.43 0.55% $2.80 35 DISCLOSURE OF FUND EXPENSES CONTINUED Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- Emerging Markets Core Equity Portfolio -------------------------------------- Actual Fund Return Institutional Class Shares............ $1,000.00 $1,031.50 0.61% $3.12 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). 36 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 29, 2014. 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 Company's 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% 37 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% World Core Equity Portfolio................. 100.0% Selectively Hedged Global Equity Portfolio.. 100.0% ENHANCED DOMESTIC EQUITY PORTFOLIO Enhanced U.S Large Company Portfolio Corporate.................................... 20.8% Government................................... 40.8% Foreign Corporate............................ 15.7% Foreign Government........................... 16.0% Supranational................................ 6.7% ----- 100.0% DOMESTIC AND INTERNATIONAL EQUITY PORTFOLIOS U.S. Large Cap Equity Portfolio Consumer Discretionary....................... 13.6% Consumer Staples............................. 8.5% Energy....................................... 10.5% Financials................................... 13.4% Health Care.................................. 12.9% Industrials.................................. 12.8% Information Technology....................... 18.3% Materials.................................... 4.5% Other........................................ -- Telecommunication Services................... 3.0% Utilities.................................... 2.5% ----- 100.0% U.S. Targeted Value Portfolio Consumer Discretionary....................... 14.3% Consumer Staples............................. 2.8% Energy....................................... 8.7% Financials................................... 25.4% Health Care.................................. 6.6% Industrials.................................. 18.0% Information Technology....................... 14.2% Materials.................................... 7.9% Other........................................ -- Real Estate Investment Trusts................ -- Telecommunication Services................... 1.4% Utilities.................................... 0.7% ----- 100.0% U.S. Small Cap Value Portfolio Consumer Discretionary....................... 14.8% Consumer Staples............................. 3.1% Energy....................................... 9.8% Financials................................... 26.2% Health Care.................................. 5.9% Industrials.................................. 18.4% Information Technology....................... 14.8% Materials.................................... 6.4% Other........................................ -- Real Estate Investment Trusts................ 0.1% Telecommunication Services................... 0.4% Utilities.................................... 0.1% ----- 100.0% U.S. Core Equity 1 Portfolio Consumer Discretionary....................... 14.9% Consumer Staples............................. 7.6% Energy....................................... 9.4% Financials................................... 14.8% Health Care.................................. 11.6% Industrials.................................. 13.4% Information Technology....................... 17.8% Materials.................................... 5.0% Other........................................ -- Real Estate Investment Trusts................ -- Telecommunication Services................... 2.6% Utilities.................................... 2.9% ----- 100.0% U.S. Core Equity 2 Portfolio Consumer Discretionary....................... 14.3% Consumer Staples............................. 6.1% Energy....................................... 11.1% Financials................................... 17.0% Health Care.................................. 10.9% Industrials.................................. 14.4% Information Technology....................... 16.1% Materials.................................... 5.3% Other........................................ -- Real Estate Investment Trusts................ -- Telecommunication Services................... 2.8% Utilities.................................... 2.0% ----- 100.0% U.S. Vector Equity Portfolio Consumer Discretionary....................... 14.0% Consumer Staples............................. 4.4% Energy....................................... 11.1% Financials................................... 23.5% Health Care.................................. 8.2% Industrials.................................. 14.8% Information Technology....................... 13.9% Materials.................................... 6.1% Other........................................ -- Real Estate Investment Trusts................ -- Telecommunication Services................... 2.7% Utilities.................................... 1.3% ----- 100.0% 38 DISCLOSURE OF PORTFOLIO HOLDINGS CONTINUED U.S. Small Cap Portfolio Consumer Discretionary....................... 17.1% Consumer Staples............................. 3.9% Energy....................................... 4.9% Financials................................... 17.5% Health Care.................................. 9.9% Industrials.................................. 17.7% Information Technology....................... 18.8% Materials.................................... 5.7% Other........................................ -- Real Estate Investment Trusts................ 0.1% Telecommunication Services................... 0.7% Utilities.................................... 3.7% ----- 100.0% U.S. Micro Cap Portfolio Consumer Discretionary....................... 18.6% Consumer Staples............................. 4.0% Energy....................................... 4.4% Financials................................... 17.6% Health Care.................................. 10.1% Industrials.................................. 18.8% Information Technology....................... 17.9% Materials.................................... 5.5% Other........................................ -- Real Estate Investment Trusts................ -- Telecommunication Services................... 1.3% Utilities.................................... 1.8% ----- 100.0% DFA Real Estate Securities Portfolio Real Estate Investment Trusts................ 100.0% ----- 100.0% Large Cap International Portfolio Consumer Discretionary....................... 12.0% Consumer Staples............................. 10.2% Energy....................................... 8.4% Financials................................... 24.2% Health Care.................................. 9.9% Industrials.................................. 12.9% Information Technology....................... 4.4% Materials.................................... 9.3% Other........................................ -- Telecommunication Services................... 4.8% Utilities.................................... 3.9% ----- 100.0% International Core Equity Portfolio Consumer Discretionary....................... 14.9% Consumer Staples............................. 7.8% Energy....................................... 8.9% Financials................................... 21.6% Health Care.................................. 6.3% Industrials.................................. 16.6% Information Technology....................... 5.7% Materials.................................... 11.2% Other........................................ -- Telecommunication Services................... 3.7% Utilities.................................... 3.3% ----- 100.0% DFA International Real Estate Securities Portfolio Consumer Staples............................. -- Financials................................... 0.3% Real Estate Investment Trusts................ 99.7% ----- 100.0% DFA International Small Cap Value Portfolio Consumer Discretionary....................... 21.4% Consumer Staples............................. 3.8% Energy....................................... 4.2% Financials................................... 21.2% Health Care.................................. 1.7% Industrials.................................. 25.7% Information Technology....................... 5.6% Materials.................................... 15.7% Other........................................ -- Telecommunication Services................... 0.2% Utilities.................................... 0.5% ----- 100.0% International Vector Equity Portfolio Consumer Discretionary....................... 15.0% Consumer Staples............................. 6.4% Energy....................................... 8.1% Financials................................... 23.4% Health Care.................................. 5.2% Industrials.................................. 18.0% Information Technology....................... 6.4% Materials.................................... 12.3% Other........................................ -- Telecommunication Services................... 2.7% Utilities.................................... 2.5% ----- 100.0% Emerging Markets Core Equity Portfolio Consumer Discretionary....................... 11.4% Consumer Staples............................. 7.7% Energy....................................... 7.3% Financials................................... 24.5% Health Care.................................. 2.9% Industrials.................................. 10.7% Information Technology....................... 16.1% Materials.................................... 10.5% Other........................................ -- Real Estate Investment Trusts................ -- Telecommunication Services................... 5.1% Utilities.................................... 3.8% ----- 100.0% 39 ENHANCED U.S. LARGE COMPANY PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Face Amount^ Value+ ------- ------ (000) BONDS -- (54.2%) AUSTRALIA -- (1.3%) Commonwealth Bank of Australia 3.875%, 12/14/15............................. GBP 1,015 $ 1,675,810 Rio Tinto Finance USA, Ltd. 2.250%, 09/20/16............................. 1,000 1,022,383 ------------ TOTAL AUSTRALIA.................................. 2,698,193 ------------ CANADA -- (10.8%) Export Development Canada 1.250%, 10/26/16............................. 3,135 3,170,914 Ontario, Province of Canada 1.000%, 07/22/16............................. 4,000 4,018,316 1.600%, 09/21/16............................. 2,000 2,032,196 Royal Bank of Canada 3.360%, 01/11/16............................. CAD 5,000 4,528,504 1.450%, 09/09/16............................. 1,000 1,009,830 Toronto-Dominion Bank (The) 2.375%, 10/19/16............................. 5,900 6,084,806 TransAlta Corp. 4.750%, 01/15/15............................. 925 932,264 TransCanada PipeLines, Ltd. 3.400%, 06/01/15............................. 1,500 1,524,264 ------------ TOTAL CANADA..................................... 23,301,094 ------------ FINLAND -- (1.4%) Municipality Finance P.L.C. 2.375%, 05/16/16............................. 3,000 3,085,152 ------------ FRANCE -- (2.1%) Reseau Ferre de France 2.375%, 12/23/15............................. GBP 2,784 4,535,156 ------------ GERMANY -- (2.3%) KFW 1.750%, 01/22/16............................. GBP 3,000 4,859,666 ------------ JAPAN -- (0.3%) Nomura Holdings, Inc. # 2.000%, 09/13/16............................. 540 546,794 ------------ NETHERLANDS -- (5.4%) Bank Nederlandse Gemeenten NV 1.125%, 09/12/16............................. 5,000 5,042,350 Cooperatieve Centrale Raiffeisen- Boerenleenbank BA 2.125%, 10/13/15............................. 5,469 5,556,952 Deutsche Telekom International Finance BV 5.750%, 03/23/16............................. 880 937,510 ------------ TOTAL NETHERLANDS................................ 11,536,812 ------------ Face Amount^ Value+ ------- ------ (000) NORWAY -- (2.3%) Kommunalbanken A.S. 0.875%, 10/03/16............................. $ 5,000 $ 5,020,770 ------------ SPAIN -- (0.3%) Telefonica Emisiones SAU 6.421%, 06/20/16............................. 584 633,693 ------------ SUPRANATIONAL ORGANIZATION OBLIGATIONS -- (6.6%) Council Of Europe Development Bank 1.250%, 09/22/16............................. 5,000 5,058,340 European Bank for Reconstruction & Development 1.375%, 10/20/16............................. 4,000 4,060,444 European Investment Bank 1.250%, 10/14/16............................. 5,000 5,060,200 ------------ TOTAL SUPRANATIONAL ORGANIZATION OBLIGATIONS..... 14,178,984 ------------ SWEDEN -- (2.7%) Nordea Bank AB 3.875%, 12/15/15............................. GBP 2,000 3,302,671 Svenska Handelsbanken AB 3.125%, 07/12/16............................. 2,391 2,483,446 ------------ TOTAL SWEDEN..................................... 5,786,117 ------------ UNITED KINGDOM -- (2.3%) Barclays Bank P.L.C. 5.000%, 09/22/16............................. 1,000 1,073,523 Ensco P.L.C. 3.250%, 03/15/16............................. 1,155 1,187,634 Network Rail Infrastructure Finance P.L.C. 1.250%, 08/31/16............................. 2,000 2,023,264 Royal Bank of Scotland Group P.L.C. 2.550%, 09/18/15............................. 700 709,989 ------------ TOTAL UNITED KINGDOM............................. 4,994,410 ------------ UNITED STATES -- (16.4%) Amgen, Inc. 4.850%, 11/18/14............................. 1,600 1,602,565 Anadarko Petroleum Corp. 5.950%, 09/15/16............................. 1,000 1,086,737 AT&T, Inc. # 2.950%, 05/15/16............................. 1,489 1,535,874 Bank of America Corp. 3.625%, 03/17/16............................. 1,000 1,035,379 40 ENHANCED U.S. LARGE COMPANY PORTFOLIO CONTINUED Face Amount^ Value+ ------- ------ (000) UNITED STATES -- (Continued) Baxter International, Inc. 5.900%, 09/01/16............................. $ 1,000 $ 1,088,986 Boston Scientific Corp. 6.400%, 06/15/16............................. 1,000 1,083,028 Citigroup, Inc. 1.300%, 04/01/16............................. 1,000 1,004,578 CNA Financial Corp. 5.850%, 12/15/14............................. 1,000 1,005,676 Comerica, Inc. 3.000%, 09/16/15............................. 1,000 1,020,384 Constellation Energy Group, Inc. 4.550%, 06/15/15............................. 1,000 1,022,547 Daimler Finance North America LLC 1.450%, 08/01/16............................. 1,000 1,006,505 EOG Resources, Inc. 2.500%, 02/01/16............................. 1,000 1,021,145 Express Scripts Holding Co. 2.100%, 02/12/15............................. 1,000 1,004,031 Ford Motor Credit Co. LLC 3.984%, 06/15/16............................. 1,000 1,044,426 Freeport-McMoRan, Inc. 1.400%, 02/13/15............................. 500 500,796 Goldman Sachs Group, Inc. (The) # 5.125%, 01/15/15............................. 894 901,501 Hewlett-Packard Co. 3.000%, 09/15/16............................. 1,000 1,032,813 HSBC USA, Inc. 2.375%, 02/13/15............................. 1,000 1,005,554 International Paper Co. 5.300%, 04/01/15............................. 517 526,569 Johnson Controls, Inc. 5.500%, 01/15/16............................. 1,000 1,056,351 JPMorgan Chase & Co. 1.125%, 02/26/16............................. 1,500 1,503,768 Lorillard Tobacco Co. 3.500%, 08/04/16............................. 800 829,645 MetLife, Inc. # 6.750%, 06/01/16............................. 1,000 1,091,509 Mondelez International, Inc. 4.125%, 02/09/16............................. 689 716,961 Morgan Stanley 4.200%, 11/20/14............................. 1,500 1,502,515 National City Corp. 4.900%, 01/15/15............................. 1,500 1,512,616 NextEra Energy Capital Holdings, Inc. 1.200%, 06/01/15............................. 1,000 1,004,222 Prudential Financial, Inc. 3.000%, 05/12/16............................. 710 732,328 Quest Diagnostics, Inc. 3.200%, 04/01/16............................. 500 514,806 Stryker Corp. 2.000%, 09/30/16............................. 1,000 1,021,826 Waste Management, Inc. 2.600%, 09/01/16............................. 605 623,142 Face Amount^ Value+ ------- ------ (000) UNITED STATES -- (Continued) Wells Fargo & Co. 3.676%, 06/15/16............................. $ 1,500 $ 1,567,908 Williams Partners L.P. 3.800%, 02/15/15............................. 1,000 1,008,246 Xerox Corp. 4.250%, 02/15/15............................. 1,000 1,010,372 ------------ TOTAL UNITED STATES................................ 35,225,309 ------------ TOTAL BONDS........................................ 116,402,150 ------------ AGENCY OBLIGATIONS -- (2.4%) Federal Home Loan Bank 0.625%, 10/14/16............................. 2,000 2,001,630 Federal National Mortgage Association 5.250%, 09/15/16............................. 3,000 3,260,085 ------------ TOTAL AGENCY OBLIGATIONS........................... 5,261,715 ------------ U.S. TREASURY OBLIGATIONS -- (38.0%) U.S. Treasury Notes 0.625%, 08/15/16............................. 27,700 27,795,232 ^^ 1.000%, 08/31/16............................. 13,500 13,633,947 1.000%, 09/30/16............................. 17,000 17,163,353 0.625%, 10/15/16............................. 23,000 23,057,500 ------------ TOTAL U.S. TREASURY OBLIGATIONS.................... 81,650,032 ------------ Shares ------ - EXCHANGE-TRADED FUNDS -- (4.1%) UNITED STATES -- (4.1%) SPDR S&P 500 ETF Trust....................... 44,100 8,893,206 ------------ SECURITIES LENDING COLLATERAL -- (1.3%) (S)@ DFA Short Term Investment Fund............... 238,351 2,757,720 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $210,691,819).............................. $214,964,823 ============ 41 ENHANCED U.S. LARGE COMPANY PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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.............................. -- $ 2,698,193 -- $ 2,698,193 Canada................................. -- 23,301,094 -- 23,301,094 Finland................................ -- 3,085,152 -- 3,085,152 France................................. -- 4,535,156 -- 4,535,156 Germany................................ -- 4,859,666 -- 4,859,666 Japan.................................. -- 546,794 -- 546,794 Netherlands............................ -- 11,536,812 -- 11,536,812 Norway................................. -- 5,020,770 -- 5,020,770 Spain.................................. -- 633,693 -- 633,693 Supranational Organization Obligations. -- 14,178,984 -- 14,178,984 Sweden................................. -- 5,786,117 -- 5,786,117 United Kingdom......................... -- 4,994,410 -- 4,994,410 United States.......................... -- 35,225,309 -- 35,225,309 Agency Obligations....................... -- 5,261,715 -- 5,261,715 U.S. Treasury Obligations................ -- 81,650,032 -- 81,650,032 Exchange-Traded Funds.................... $ 8,893,206 -- -- 8,893,206 Securities Lending Collateral............ -- 2,757,720 -- 2,757,720 Futures Contracts**...................... 7,062,050 -- -- 7,062,050 Forward Currency Contracts**............. -- 205,165 -- 205,165 ----------- ------------ -- ------------ TOTAL.................................... $15,955,256 $206,276,782 -- $222,232,038 =========== ============ == ============ **Not reflected in the Schedule of Investments, valued at the unrealized appreciation/(depreciation) on the investment. (Note H) See accompanying Notes to Financial Statements. 42 U.S. LARGE CAP EQUITY PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (96.1%) Consumer Discretionary -- (13.1%) * Amazon.com, Inc................... 4,446 $ 1,358,075 0.5% Comcast Corp. Class A............. 36,774 2,035,441 0.7% Home Depot, Inc. (The)............ 17,150 1,672,468 0.6% McDonald's Corp................... 11,845 1,110,232 0.4% Walt Disney Co. (The)............. 18,805 1,718,401 0.6% Other Securities.................. 27,867,546 10.2% ------------- ------ Total Consumer Discretionary.......... 35,762,163 13.0% ------------- ------ Consumer Staples -- (8.2%) Altria Group, Inc................. 24,603 1,189,309 0.4% Coca-Cola Co. (The)............... 42,618 1,784,842 0.6% CVS Health Corp................... 13,994 1,200,825 0.4% PepsiCo, Inc...................... 19,005 1,827,711 0.7% Philip Morris International, Inc.. 14,261 1,269,372 0.5% Procter & Gamble Co. (The)........ 27,067 2,362,137 0.9% Wal-Mart Stores, Inc.............. 22,938 1,749,481 0.6% Other Securities.................. 10,931,996 4.0% ------------- ------ Total Consumer Staples................ 22,315,673 8.1% ------------- ------ Energy -- (10.1%) Chevron Corp...................... 23,416 2,808,749 1.0% ConocoPhillips.................... 18,400 1,327,560 0.5% Exxon Mobil Corp.................. 62,574 6,051,532 2.2% Occidental Petroleum Corp......... 11,668 1,037,635 0.4% Schlumberger, Ltd................. 14,816 1,461,747 0.5% Other Securities.................. 14,788,147 5.4% ------------- ------ Total Energy.......................... 27,475,370 10.0% ------------- ------ Financials -- (12.8%) American Express Co............... 11,888 1,069,326 0.4% Bank of America Corp.............. 86,309 1,481,062 0.5% * Berkshire Hathaway, Inc. Class B.. 17,818 2,497,371 0.9% Citigroup, Inc.................... 29,395 1,573,514 0.6% JPMorgan Chase & Co............... 33,159 2,005,456 0.7% Wells Fargo & Co.................. 61,070 3,242,206 1.2% Other Securities.................. 23,217,243 8.5% ------------- ------ Total Financials...................... 35,086,178 12.8% ------------- ------ Health Care -- (12.4%) AbbVie, Inc....................... 20,088 1,274,785 0.5% Amgen, Inc........................ 7,761 1,258,679 0.5% * Celgene Corp...................... 9,989 1,069,722 0.4% * Gilead Sciences, Inc.............. 19,245 2,155,440 0.8% Johnson & Johnson................. 33,864 3,649,862 1.3% Merck & Co., Inc.................. 33,588 1,946,089 0.7% Pfizer, Inc....................... 76,538 2,292,313 0.8% UnitedHealth Group, Inc........... 14,297 1,358,358 0.5% Other Securities.................. 18,776,664 6.8% ------------- ------ Total Health Care..................... 33,781,912 12.3% ------------- ------ Industrials -- (12.3%) 3M Co............................. 7,847 1,206,633 0.4% Boeing Co. (The).................. 8,269 1,032,881 0.4% General Electric Co............... 89,353 2,306,201 0.8% 43 U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Industrials -- (Continued) Union Pacific Corp................................. 14,231 $ 1,657,200 0.6% United Technologies Corp........................... 9,890 1,058,230 0.4% Other Securities................................... 26,347,846 9.6% ------------- ------ Total Industrials........................................ 33,608,991 12.2% ------------- ------ Information Technology -- (17.6%) Apple, Inc......................................... 70,637 7,628,796 2.8% Cisco Systems, Inc................................. 59,304 1,451,169 0.5% * Facebook, Inc. Class A............................. 19,266 1,444,757 0.5% * Google, Inc. Class A............................... 2,280 1,294,744 0.5% Hewlett-Packard Co................................. 34,381 1,233,590 0.5% Intel Corp......................................... 84,793 2,883,810 1.1% International Business Machines Corp............... 11,603 1,907,533 0.7% MasterCard, Inc. Class A........................... 12,582 1,053,742 0.4% Microsoft Corp..................................... 90,359 4,242,355 1.6% Oracle Corp........................................ 48,032 1,875,650 0.7% QUALCOMM, Inc...................................... 16,646 1,306,877 0.5% Visa, Inc. Class A................................. 4,507 1,088,125 0.4% Other Securities................................... 20,674,968 7.3% ------------- ------ Total Information Technology............................. 48,086,116 17.5% ------------- ------ Materials -- (4.3%) Other Securities................................... 11,708,514 4.2% ------------- ------ Telecommunication Services -- (2.9%) AT&T, Inc.......................................... 98,170 3,420,243 1.2% Verizon Communications, Inc........................ 62,067 3,118,867 1.1% Other Securities................................... 1,379,894 0.6% ------------- ------ Total Telecommunication Services......................... 7,919,004 2.9% ------------- ------ Utilities -- (2.4%) Other Securities................................... 6,503,570 2.4% ------------- ------ TOTAL COMMON STOCKS...................................... 262,247,491 95.4% ------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 165 0.0% ------------- ------ TEMPORARY CASH INVESTMENTS -- (0.5%) State Street Institutional Liquid Reserves, 0.077%. 1,461,806 1,461,806 0.5% ------------- ------ SECURITIES LENDING COLLATERAL -- (3.4%) (S)@ DFA Short Term Investment Fund..................... 803,831 9,300,329 3.4% ------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $237,614,016).................................. $ 273,009,791 99.3% ============= ====== 44 U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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...... $ 35,762,163 -- -- $ 35,762,163 Consumer Staples............ 22,315,673 -- -- 22,315,673 Energy...................... 27,475,370 -- -- 27,475,370 Financials.................. 35,086,178 -- -- 35,086,178 Health Care................. 33,781,912 -- -- 33,781,912 Industrials................. 33,608,991 -- -- 33,608,991 Information Technology...... 48,086,116 -- -- 48,086,116 Materials................... 11,708,514 -- -- 11,708,514 Telecommunication Services.. 7,919,004 -- -- 7,919,004 Utilities................... 6,503,570 -- -- 6,503,570 Rights/Warrants............... -- $ 165 -- 165 Temporary Cash Investments.... 1,461,806 -- -- 1,461,806 Securities Lending Collateral. -- 9,300,329 -- 9,300,329 ------------ ---------- -- ------------ TOTAL......................... $263,709,297 $9,300,494 -- $273,009,791 ============ ========== == ============ See accompanying Notes to Financial Statements. 45 U.S. LARGE CAP VALUE PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Value+ --------------- AFFILIATED INVESTMENT COMPANY -- (100.0%) Investment in The U.S. Large Cap Value Series of The DFA Investment Trust Company..................... $15,138,175,654 --------------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANY (Cost $9,823,414,415)............................. $15,138,175,654 =============== Summary of the Portfolio's Master Fund's investments as of October 31, 2014, based on their valuation inputs, is located within this report (See Security Valuation Note). See accompanying Notes to Financial Statements. 46 U.S. TARGETED VALUE PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (84.3%) Consumer Discretionary -- (12.0%) # Dillard's, Inc. Class A................ 211,147 $ 22,330,907 0.4% # GameStop Corp. Class A................. 635,798 27,186,722 0.5% Graham Holdings Co. Class B............ 31,543 24,717,095 0.4% Lear Corp.............................. 248,685 23,003,362 0.4% * Live Nation Entertainment, Inc......... 924,308 24,032,008 0.4% PulteGroup, Inc........................ 1,118,270 21,459,601 0.4% # Wendy's Co. (The)...................... 2,361,897 18,942,414 0.3% Other Securities....................... 634,414,099 11.4% -------------- ------ Total Consumer Discretionary............... 796,086,208 14.2% -------------- ------ Consumer Staples -- (2.4%) Other Securities....................... 156,066,914 2.8% -------------- ------ Energy -- (7.3%) Nabors Industries, Ltd................. 1,097,257 19,586,037 0.4% Tesoro Corp............................ 315,473 22,527,927 0.4% Other Securities....................... 444,064,376 7.9% -------------- ------ Total Energy............................... 486,178,340 8.7% -------------- ------ Financials -- (21.4%) Allied World Assurance Co. Holdings AG. 518,010 19,684,380 0.4% American Financial Group, Inc.......... 465,774 27,867,258 0.5% Assurant, Inc.......................... 471,974 32,198,066 0.6% Axis Capital Holdings, Ltd............. 606,646 29,203,938 0.5% CNO Financial Group, Inc............... 1,174,038 21,285,309 0.4% * E*TRADE Financial Corp................. 1,292,524 28,823,285 0.5% * Genworth Financial, Inc. Class A....... 1,716,485 24,013,625 0.4% Legg Mason, Inc........................ 731,595 38,042,940 0.7% # NASDAQ OMX Group, Inc. (The)........... 858,799 37,151,645 0.7% # New York Community Bancorp, Inc........ 1,321,540 21,078,563 0.4% PartnerRe, Ltd......................... 321,083 37,146,092 0.7% # People's United Financial, Inc......... 1,543,963 22,572,739 0.4% Protective Life Corp................... 427,997 29,822,831 0.5% Reinsurance Group of America, Inc...... 325,844 27,452,357 0.5% Zions Bancorporation................... 948,371 27,474,308 0.5% Other Securities....................... 990,191,759 17.6% -------------- ------ Total Financials........................... 1,414,009,095 25.3% -------------- ------ Health Care -- (5.6%) * Community Health Systems, Inc.......... 490,559 26,966,028 0.5% Omnicare, Inc.......................... 597,354 39,777,803 0.7% Other Securities....................... 302,719,333 5.4% -------------- ------ Total Health Care.......................... 369,463,164 6.6% -------------- ------ Industrials -- (15.1%) # ADT Corp. (The)........................ 528,226 18,931,620 0.3% Alaska Air Group, Inc.................. 430,272 22,903,379 0.4% AMERCO................................. 84,246 22,840,776 0.4% * Avis Budget Group, Inc................. 665,365 37,094,099 0.7% Owens Corning.......................... 624,093 20,008,422 0.4% * Quanta Services, Inc................... 631,307 21,514,943 0.4% Ryder System, Inc...................... 309,611 27,391,285 0.5% # Trinity Industries, Inc................ 970,590 34,659,769 0.6% Other Securities....................... 796,454,228 14.2% -------------- ------ Total Industrials.......................... 1,001,798,521 17.9% -------------- ------ 47 U.S. TARGETED VALUE PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Information Technology -- (12.0%) * AOL, Inc........................................... 435,272 $ 18,947,390 0.4% * Arrow Electronics, Inc............................. 510,838 29,046,249 0.5% Avnet, Inc......................................... 659,675 28,530,944 0.5% Brocade Communications Systems, Inc................ 1,765,119 18,939,727 0.4% #* First Solar, Inc................................... 629,345 37,068,421 0.7% * Ingram Micro, Inc. Class A......................... 789,039 21,177,807 0.4% Marvell Technology Group, Ltd...................... 1,483,327 19,935,915 0.4% #* TriQuint Semiconductor, Inc........................ 976,471 21,121,068 0.4% Other Securities................................... 596,069,380 10.5% -------------- ------ Total Information Technology............................. 790,836,901 14.2% -------------- ------ Materials -- (6.7%) MeadWestvaco Corp.................................. 537,108 23,724,060 0.4% Reliance Steel & Aluminum Co....................... 417,707 28,186,868 0.5% Rock-Tenn Co. Class A.............................. 434,562 22,227,846 0.4% Steel Dynamics, Inc................................ 945,483 21,755,564 0.4% # United States Steel Corp........................... 669,436 26,804,218 0.5% Other Securities................................... 319,063,796 5.7% -------------- ------ Total Materials.......................................... 441,762,352 7.9% -------------- ------ Other -- (0.0%) Other Securities................................... -- 0.0% -------------- ------ Real Estate Investment Trusts -- (0.0%) Other Securities................................... 2,114,063 0.0% -------------- ------ Telecommunication Services -- (1.2%) # Frontier Communications Corp....................... 3,065,958 20,051,365 0.4% Windstream Holdings, Inc........................... 1,773,692 18,588,292 0.3% Other Securities................................... 40,119,949 0.7% -------------- ------ Total Telecommunication Services......................... 78,759,606 1.4% -------------- ------ Utilities -- (0.6%) UGI Corp........................................... 674,196 25,410,447 0.5% Other Securities................................... 11,648,079 0.2% -------------- ------ Total Utilities.......................................... 37,058,526 0.7% -------------- ------ TOTAL COMMON STOCKS...................................... 5,574,133,690 99.7% -------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 684,400 0.0% -------------- ------ TEMPORARY CASH INVESTMENTS -- (0.2%) State Street Institutional Liquid Reserves, 0.077%. 14,280,341 14,280,341 0.3% -------------- ------ SECURITIES LENDING COLLATERAL -- (15.5%) (S)@ DFA Short Term Investment Fund..................... 88,553,047 1,024,558,755 18.3% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $5,163,316,060)................................ $6,613,657,186 118.3% ============== ====== 48 U.S. TARGETED VALUE PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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........ $ 796,086,208 -- -- $ 796,086,208 Consumer Staples.............. 156,066,914 -- -- 156,066,914 Energy........................ 486,178,340 -- -- 486,178,340 Financials.................... 1,413,977,485 $ 31,610 -- 1,414,009,095 Health Care................... 369,362,357 100,807 -- 369,463,164 Industrials................... 1,001,796,859 1,662 -- 1,001,798,521 Information Technology........ 790,836,901 -- -- 790,836,901 Materials..................... 441,762,352 -- -- 441,762,352 Other......................... -- -- -- -- Real Estate Investment Trusts. 2,114,063 -- -- 2,114,063 Telecommunication Services.... 78,759,606 -- -- 78,759,606 Utilities..................... 37,058,526 -- -- 37,058,526 Rights/Warrants................. -- 684,400 -- 684,400 Temporary Cash Investments...... 14,280,341 -- -- 14,280,341 Securities Lending Collateral... -- 1,024,558,755 -- 1,024,558,755 -------------- -------------- -- -------------- TOTAL........................... $5,588,279,952 $1,025,377,234 -- $6,613,657,186 ============== ============== == ============== See accompanying Notes to Financial Statements. 49 U.S. SMALL CAP VALUE PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (84.7%) Consumer Discretionary -- (12.6%) DeVry Education Group, Inc.................. 1,167,715 $ 56,529,083 0.5% # Group 1 Automotive, Inc..................... 725,621 61,989,802 0.5% #* Iconix Brand Group, Inc..................... 1,920,147 76,825,081 0.7% * Live Nation Entertainment, Inc.............. 2,423,838 63,019,788 0.6% Penske Automotive Group, Inc................ 1,250,616 56,577,868 0.5% # Rent-A-Center, Inc.......................... 1,897,433 58,763,500 0.5% #* Skechers U.S.A., Inc. Class A............... 1,138,657 62,341,471 0.6% Other Securities............................ 1,263,610,471 10.9% ---------------- ------ Total Consumer Discretionary.................... 1,699,657,064 14.8% ---------------- ------ Consumer Staples -- (2.6%) # Fresh Del Monte Produce, Inc................ 1,715,825 55,095,141 0.5% * Seaboard Corp............................... 18,588 57,118,507 0.5% Other Securities............................ 247,049,561 2.1% ---------------- ------ Total Consumer Staples.......................... 359,263,209 3.1% ---------------- ------ Energy -- (8.3%) # Bristow Group, Inc.......................... 1,356,710 100,260,869 0.9% Delek US Holdings, Inc...................... 1,710,914 57,982,875 0.5% # Exterran Holdings, Inc...................... 2,454,125 96,520,736 0.8% * Helix Energy Solutions Group, Inc........... 3,813,585 101,593,904 0.9% Other Securities............................ 764,433,406 6.6% ---------------- ------ Total Energy.................................... 1,120,791,790 9.7% ---------------- ------ Financials -- (22.2%) # American Equity Investment Life Holding Co.. 2,251,258 58,104,969 0.5% # Argo Group International Holdings, Ltd...... 1,019,162 56,869,240 0.5% Aspen Insurance Holdings, Ltd............... 1,361,886 59,419,086 0.5% CNO Financial Group, Inc.................... 8,472,447 153,605,464 1.3% Endurance Specialty Holdings, Ltd........... 1,449,804 84,016,142 0.7% # First American Financial Corp............... 2,056,410 62,350,351 0.5% # Hanover Insurance Group, Inc. (The)......... 1,202,555 80,499,032 0.7% # Kemper Corp................................. 1,693,849 62,418,336 0.5% * MBIA, Inc................................... 6,839,686 66,755,335 0.6% # Montpelier Re Holdings, Ltd................. 1,977,273 65,526,827 0.6% Platinum Underwriters Holdings, Ltd......... 978,955 61,311,952 0.5% StanCorp Financial Group, Inc............... 765,879 53,274,543 0.5% Susquehanna Bancshares, Inc................. 6,432,807 63,105,837 0.6% Umpqua Holdings Corp........................ 4,077,772 71,768,787 0.6% # Washington Federal, Inc..................... 2,520,952 55,032,382 0.5% # Webster Financial Corp...................... 2,558,326 80,177,937 0.7% # Wintrust Financial Corp..................... 1,440,940 66,744,341 0.6% Other Securities............................ 1,797,834,756 15.6% ---------------- ------ Total Financials................................ 2,998,815,317 26.0% ---------------- ------ Health Care -- (5.0%) * LifePoint Hospitals, Inc.................... 1,892,213 132,454,910 1.2% Other Securities............................ 543,509,310 4.7% ---------------- ------ Total Health Care............................... 675,964,220 5.9% ---------------- ------ 50 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Industrials -- (15.6%) AMERCO............................................. 343,691 $ 93,181,504 0.8% * Avis Budget Group, Inc............................. 1,480,212 82,521,819 0.7% # Covanta Holding Corp............................... 2,570,277 56,726,013 0.5% #* Esterline Technologies Corp........................ 1,145,345 134,131,353 1.2% # GATX Corp.......................................... 1,763,892 111,830,753 1.0% #* JetBlue Airways Corp............................... 10,893,799 125,714,440 1.1% Other Securities................................... 1,509,828,968 13.1% ---------------- ------ Total Industrials........................................ 2,113,934,850 18.4% ---------------- ------ Information Technology -- (12.6%) * Benchmark Electronics, Inc......................... 2,299,623 54,547,058 0.5% * CACI International, Inc. Class A................... 845,691 69,591,912 0.6% # Convergys Corp..................................... 3,909,664 78,857,923 0.7% #* Fairchild Semiconductor International, Inc......... 4,155,476 63,786,557 0.6% * International Rectifier Corp....................... 1,786,838 71,062,547 0.6% * Sanmina Corp....................................... 2,283,569 57,249,075 0.5% # SYNNEX Corp........................................ 1,287,443 89,065,307 0.8% * Tech Data Corp..................................... 1,092,101 65,220,272 0.6% * TriQuint Semiconductor, Inc........................ 3,614,088 78,172,723 0.7% # Vishay Intertechnology, Inc........................ 4,997,422 67,515,171 0.6% Other Securities................................... 1,006,245,740 8.6% ---------------- ------ Total Information Technology............................. 1,701,314,285 14.8% ---------------- ------ Materials -- (5.4%) * Century Aluminum Co................................ 2,669,590 78,165,595 0.7% * Graphic Packaging Holding Co....................... 5,789,957 70,232,178 0.6% #* Louisiana-Pacific Corp............................. 5,449,807 79,567,182 0.7% Other Securities................................... 499,052,510 4.3% ---------------- ------ Total Materials.......................................... 727,017,465 6.3% ---------------- ------ Other -- (0.0%) Other Securities................................... -- 0.0% ---------------- ------ Real Estate Investment Trusts -- (0.0%) Other Securities................................... 6,698,817 0.1% ---------------- ------ Telecommunication Services -- (0.3%)..................... Other Securities................................... 45,160,722 0.4% ---------------- ------ Utilities -- (0.1%) Other Securities................................... 14,950,957 0.1% ---------------- ------ TOTAL COMMON STOCKS...................................... 11,463,568,696 99.6% ---------------- ------ PREFERRED STOCKS -- (0.0%) Other -- (0.0%) Other Securities................................... -- 0.0% ---------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 2,469,350 0.0% ---------------- ------ TEMPORARY CASH INVESTMENTS -- (0.4%) State Street Institutional Liquid Reserves, 0.077%. 60,521,987 60,521,987 0.5% ---------------- ------ SECURITIES LENDING COLLATERAL -- (14.9%) (S)@ DFA Short Term Investment Fund..................... 173,376,578 2,005,967,006 17.4% ---------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $10,254,873,984)............................... $ 13,532,527,039 117.5% ================ ====== 51 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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........ $ 1,699,657,064 -- -- $ 1,699,657,064 Consumer Staples.............. 359,263,209 -- -- 359,263,209 Energy........................ 1,120,791,790 -- -- 1,120,791,790 Financials.................... 2,998,605,317 $ 210,000 -- 2,998,815,317 Health Care................... 675,878,642 85,578 -- 675,964,220 Industrials................... 2,113,925,345 9,505 -- 2,113,934,850 Information Technology........ 1,701,314,285 -- -- 1,701,314,285 Materials..................... 727,017,465 -- -- 727,017,465 Other......................... -- -- -- -- Real Estate Investment Trusts. 6,698,817 -- -- 6,698,817 Telecommunication Services.... 45,160,722 -- -- 45,160,722 Utilities..................... 14,950,957 -- -- 14,950,957 Preferred Stocks Other......................... -- -- -- -- Rights/Warrants................. -- 2,469,350 -- 2,469,350 Temporary Cash Investments...... 60,521,987 -- -- 60,521,987 Securities Lending Collateral... -- 2,005,967,006 -- 2,005,967,006 --------------- -------------- -- --------------- TOTAL........................... $11,523,785,600 $2,008,741,439 -- $13,532,527,039 =============== ============== == =============== See accompanying Notes to Financial Statements. 52 U.S. CORE EQUITY 1 PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (89.6%) Consumer Discretionary -- (13.3%) * Amazon.com, Inc................... 149,526 $ 45,674,212 0.4% Comcast Corp. Class A............. 974,084 53,915,549 0.5% Home Depot, Inc. (The)............ 626,547 61,100,863 0.6% McDonald's Corp................... 454,169 42,569,260 0.4% Walt Disney Co. (The)............. 510,608 46,659,359 0.4% Other Securities.................. 1,347,531,566 12.5% ---------------- ------ Total Consumer Discretionary.......... 1,597,450,809 14.8% ---------------- ------ Consumer Staples -- (6.8%) Altria Group, Inc................. 906,345 43,812,717 0.4% Coca-Cola Co. (The)............... 1,535,652 64,313,106 0.6% CVS Health Corp................... 420,555 36,087,825 0.3% PepsiCo, Inc...................... 703,432 67,649,055 0.6% Philip Morris International, Inc.. 477,515 42,503,610 0.4% Procter & Gamble Co. (The)........ 655,390 57,195,885 0.5% Wal-Mart Stores, Inc.............. 707,960 53,996,109 0.5% Other Securities.................. 453,293,802 4.3% ---------------- ------ Total Consumer Staples................ 818,852,109 7.6% ---------------- ------ Energy -- (8.4%) Chevron Corp...................... 731,435 87,735,628 0.8% ConocoPhillips.................... 562,318 40,571,244 0.4% EOG Resources, Inc................ 365,806 34,769,860 0.3% Exxon Mobil Corp.................. 1,900,383 183,786,040 1.7% Occidental Petroleum Corp......... 424,457 37,746,961 0.4% Schlumberger, Ltd................. 396,427 39,111,488 0.4% Other Securities.................. 586,689,198 5.4% ---------------- ------ Total Energy.......................... 1,010,410,419 9.4% ---------------- ------ Financials -- (13.3%) American Express Co............... 440,616 39,633,409 0.4% Bank of America Corp.............. 3,795,646 65,133,285 0.6% * Berkshire Hathaway, Inc. Class B.. 582,608 81,658,337 0.8% Citigroup, Inc.................... 1,092,668 58,490,518 0.6% JPMorgan Chase & Co............... 1,455,716 88,041,704 0.8% Wells Fargo & Co.................. 1,814,636 96,339,025 0.9% Other Securities.................. 1,163,708,954 10.7% ---------------- ------ Total Financials...................... 1,593,005,232 14.8% ---------------- ------ Health Care -- (10.4%) AbbVie, Inc....................... 728,519 46,231,816 0.4% Amgen, Inc........................ 236,350 38,331,243 0.4% * Celgene Corp...................... 360,073 38,560,218 0.4% * Gilead Sciences, Inc.............. 697,050 78,069,600 0.7% Johnson & Johnson................. 877,748 94,603,679 0.9% Merck & Co., Inc.................. 855,685 49,578,389 0.5% Pfizer, Inc....................... 2,180,998 65,320,890 0.6% UnitedHealth Group, Inc........... 363,224 34,509,912 0.3% Other Securities.................. 806,029,516 7.4% ---------------- ------ Total Health Care..................... 1,251,235,263 11.6% ---------------- ------ Industrials -- (12.0%) 3M Co............................. 282,916 43,503,993 0.4% Boeing Co. (The).................. 316,118 39,486,299 0.4% 53 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Industrials -- (Continued) General Electric Co................................ 2,771,119 $ 71,522,581 0.7% Union Pacific Corp................................. 440,988 51,353,053 0.5% Other Securities................................... 1,231,261,767 11.3% ---------------- ------ Total Industrials........................................ 1,437,127,693 13.3% ---------------- ------ Information Technology -- (15.9%) Apple, Inc......................................... 2,331,646 251,817,768 2.4% Cisco Systems, Inc................................. 1,778,262 43,514,071 0.4% * Facebook, Inc. Class A............................. 614,053 46,047,834 0.4% * Google, Inc. Class A............................... 68,974 39,168,265 0.4% * Google, Inc. Class C............................... 68,974 38,561,984 0.4% Hewlett-Packard Co................................. 1,245,191 44,677,453 0.4% Intel Corp......................................... 2,321,362 78,949,522 0.7% International Business Machines Corp............... 434,334 71,404,510 0.7% MasterCard, Inc. Class A........................... 457,872 38,346,780 0.4% Microsoft Corp..................................... 2,983,192 140,060,864 1.3% Oracle Corp........................................ 1,380,511 53,908,955 0.5% Visa, Inc. Class A................................. 152,055 36,710,639 0.4% Other Securities................................... 1,028,619,370 9.3% ---------------- ------ Total Information Technology............................. 1,911,788,015 17.7% ---------------- ------ Materials -- (4.5%) Other Securities................................... 532,177,083 4.9% ---------------- ------ Other -- (0.0%) Other Securities................................... -- 0.0% ---------------- ------ Real Estate Investment Trusts -- (0.0%) Other Securities................................... 264,041 0.0% ---------------- ------ Telecommunication Services -- (2.4%) AT&T, Inc.......................................... 3,470,117 120,898,876 1.1% Verizon Communications, Inc........................ 1,937,013 97,334,903 0.9% Other Securities................................... 66,541,900 0.7% ---------------- ------ Total Telecommunication Services......................... 284,775,679 2.7% ---------------- ------ Utilities -- (2.6%) Other Securities................................... 309,329,353 2.9% ---------------- ------ TOTAL COMMON STOCKS...................................... 10,746,415,696 99.7% ---------------- ------ PREFERRED STOCKS -- (0.0%) Other -- (0.0%) Other Securities................................... -- 0.0% ---------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 145,379 0.0% ---------------- ------ TEMPORARY CASH INVESTMENTS -- (0.6%) State Street Institutional Liquid Reserves, 0.077%. 68,557,782 68,557,782 0.6% ---------------- ------ SECURITIES LENDING COLLATERAL -- (9.8%) (S)@ DFA Short Term Investment Fund..................... 102,239,059 1,182,905,915 11.0% ---------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $8,664,802,325).............................. $ 11,998,024,772 111.3% ================ ====== 54 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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........ $ 1,597,450,809 -- -- $ 1,597,450,809 Consumer Staples.............. 818,852,109 -- -- 818,852,109 Energy........................ 1,010,410,419 -- -- 1,010,410,419 Financials.................... 1,592,998,317 $ 6,915 -- 1,593,005,232 Health Care................... 1,251,174,357 60,906 -- 1,251,235,263 Industrials................... 1,437,127,437 256 -- 1,437,127,693 Information Technology........ 1,911,788,015 -- -- 1,911,788,015 Materials..................... 532,177,083 -- -- 532,177,083 Other......................... -- -- -- -- Real Estate Investment Trusts. 264,041 -- -- 264,041 Telecommunication Services.... 284,775,679 -- -- 284,775,679 Utilities..................... 309,329,353 -- -- 309,329,353 Preferred Stocks Other......................... -- -- -- -- Rights/Warrants................. -- 145,379 -- 145,379 Temporary Cash Investments...... 68,557,782 -- -- 68,557,782 Securities Lending Collateral... -- 1,182,905,915 -- 1,182,905,915 --------------- -------------- -- --------------- TOTAL........................... $10,814,905,401 $1,183,119,371 -- $11,998,024,772 =============== ============== == =============== See accompanying Notes to Financial Statements. 55 U.S. CORE EQUITY 2 PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (88.6%) Consumer Discretionary -- (12.7%) Comcast Corp. Class A................ 1,577,147 $ 87,295,086 0.7% Ford Motor Co........................ 2,440,086 34,380,812 0.3% Time Warner, Inc..................... 517,992 41,164,824 0.3% Walt Disney Co. (The)................ 830,524 75,893,283 0.6% Other Securities..................... 1,601,655,653 12.3% ---------------- ------ Total Consumer Discretionary............. 1,840,389,658 14.2% ---------------- ------ Consumer Staples -- (5.4%) Coca-Cola Co. (The).................. 863,072 36,145,455 0.3% CVS Health Corp...................... 680,040 58,354,232 0.5% Mondelez International, Inc. Class A. 938,871 33,104,591 0.3% PepsiCo, Inc......................... 395,385 38,024,175 0.3% Procter & Gamble Co. (The)........... 646,219 56,395,532 0.4% Wal-Mart Stores, Inc................. 773,229 58,974,176 0.5% Other Securities..................... 503,989,119 3.8% ---------------- ------ Total Consumer Staples................... 784,987,280 6.1% ---------------- ------ Energy -- (9.8%) Anadarko Petroleum Corp.............. 422,817 38,806,144 0.3% Chevron Corp......................... 1,126,532 135,127,513 1.1% ConocoPhillips....................... 925,168 66,750,871 0.5% EOG Resources, Inc................... 548,973 52,179,884 0.4% Exxon Mobil Corp..................... 3,041,760 294,168,610 2.3% Occidental Petroleum Corp............ 592,054 52,651,362 0.4% Schlumberger, Ltd.................... 403,889 39,847,689 0.3% Other Securities..................... 751,831,712 5.8% ---------------- ------ Total Energy............................. 1,431,363,785 11.1% ---------------- ------ Financials -- (15.1%) American International Group, Inc.... 789,495 42,293,247 0.3% Bank of America Corp................. 4,303,562 73,849,124 0.6% * Berkshire Hathaway, Inc. Class B..... 311,601 43,673,996 0.3% Citigroup, Inc....................... 1,297,954 69,479,478 0.5% Goldman Sachs Group, Inc. (The)...... 185,924 35,323,701 0.3% JPMorgan Chase & Co.................. 1,554,077 93,990,577 0.7% U.S. Bancorp......................... 1,031,884 43,958,258 0.4% Wells Fargo & Co..................... 2,946,809 156,446,090 1.2% Other Securities..................... 1,627,776,216 12.6% ---------------- ------ Total Financials......................... 2,186,790,687 16.9% ---------------- ------ Health Care -- (9.7%) * Actavis P.L.C........................ 166,039 40,304,307 0.3% Amgen, Inc........................... 233,507 37,870,165 0.3% * Express Scripts Holding Co........... 462,397 35,521,338 0.3% * Gilead Sciences, Inc................. 289,862 32,464,544 0.3% Johnson & Johnson.................... 765,223 82,475,735 0.6% Merck & Co., Inc..................... 1,331,605 77,153,194 0.6% Pfizer, Inc.......................... 3,831,803 114,762,500 0.9% UnitedHealth Group, Inc.............. 576,403 54,764,049 0.4% Other Securities..................... 927,852,529 7.2% ---------------- ------ Total Health Care........................ 1,403,168,361 10.9% ---------------- ------ Industrials -- (12.7%) FedEx Corp........................... 214,708 35,942,119 0.3% 56 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Industrials -- (Continued) General Electric Co................................ 4,061,967 $ 104,839,368 0.8% Union Pacific Corp................................. 582,662 67,850,990 0.5% Other Securities................................... 1,641,438,599 12.7% ---------------- ------ Total Industrials........................................ 1,850,071,076 14.3% ---------------- ------ Information Technology -- (14.2%) Apple, Inc......................................... 2,232,888 241,151,904 1.9% Cisco Systems, Inc................................. 3,101,253 75,887,661 0.6% EMC Corp........................................... 1,136,231 32,643,917 0.3% Hewlett-Packard Co................................. 1,806,885 64,831,034 0.5% Intel Corp......................................... 3,577,014 121,654,246 1.0% International Business Machines Corp............... 186,013 30,580,537 0.2% * Micron Technology, Inc............................. 1,086,356 35,947,520 0.3% Microsoft Corp..................................... 1,737,915 81,595,109 0.6% Oracle Corp........................................ 1,022,019 39,909,842 0.3% QUALCOMM, Inc...................................... 393,081 30,860,789 0.3% Visa, Inc. Class A................................. 136,797 33,026,900 0.3% Other Securities................................... 1,276,645,797 9.7% ---------------- ------ Total Information Technology............................. 2,064,735,256 16.0% ---------------- ------ Materials -- (4.7%) Dow Chemical Co. (The)............................. 754,020 37,248,588 0.3% Other Securities................................... 640,874,719 5.0% ---------------- ------ Total Materials.......................................... 678,123,307 5.3% ---------------- ------ Other -- (0.0%) Other Securities................................... -- 0.0% ---------------- ------ Real Estate Investment Trusts -- (0.0%) Other Securities................................... 593,324 0.0% ---------------- ------ Telecommunication Services -- (2.5%) AT&T, Inc.......................................... 5,301,166 184,692,623 1.4% Verizon Communications, Inc........................ 1,840,744 92,497,386 0.7% Other Securities................................... 86,537,531 0.7% ---------------- ------ Total Telecommunication Services......................... 363,727,540 2.8% ---------------- ------ Utilities -- (1.8%) Other Securities................................... 259,558,443 2.0% ---------------- ------ TOTAL COMMON STOCKS...................................... 12,863,508,717 99.6% ---------------- ------ PREFERRED STOCKS -- (0.0%) Other -- (0.0%) Other Securities................................... -- 0.0% ---------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 252,082 0.0% ---------------- ------ TEMPORARY CASH INVESTMENTS -- (0.6%) State Street Institutional Liquid Reserves, 0.077%. 94,206,014 94,206,014 0.7% ---------------- ------ SECURITIES LENDING COLLATERAL -- (10.8%) (S)@ DFA Short Term Investment Fund..................... 135,602,661 1,568,922,783 12.1% ---------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $10,169,853,055)............................. $ 14,526,889,596 112.4% ================ ====== 57 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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........ $ 1,840,389,658 -- -- $ 1,840,389,658 Consumer Staples.............. 784,987,280 -- -- 784,987,280 Energy........................ 1,431,363,785 -- -- 1,431,363,785 Financials.................... 2,186,774,436 $ 16,251 -- 2,186,790,687 Health Care................... 1,403,030,086 138,275 -- 1,403,168,361 Industrials................... 1,850,070,433 643 -- 1,850,071,076 Information Technology........ 2,064,735,256 -- -- 2,064,735,256 Materials..................... 678,123,307 -- -- 678,123,307 Other......................... -- -- -- -- Real Estate Investment Trusts. 593,324 -- -- 593,324 Telecommunication Services.... 363,727,540 -- -- 363,727,540 Utilities..................... 259,558,443 -- -- 259,558,443 Preferred Stocks Other......................... -- -- -- -- Rights/Warrants................. -- 252,082 -- 252,082 Temporary Cash Investments...... 94,206,014 -- -- 94,206,014 Securities Lending Collateral... -- 1,568,922,783 -- 1,568,922,783 --------------- -------------- -- --------------- TOTAL........................... $12,957,559,562 $1,569,330,034 -- $14,526,889,596 =============== ============== == =============== See accompanying Notes to Financial Statements. 58 U.S. VECTOR EQUITY PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (86.5%) Consumer Discretionary -- (12.1%) Comcast Corp. Class A......................... 376,209 $ 20,823,168 0.6% Royal Caribbean Cruises, Ltd.................. 124,720 8,477,218 0.3% Time Warner, Inc.............................. 97,900 7,780,113 0.2% Walt Disney Co. (The)......................... 118,253 10,805,959 0.3% Other Securities.............................. 441,023,946 12.6% --------------- ------ Total Consumer Discretionary...................... 488,910,404 14.0% --------------- ------ Consumer Staples -- (3.8%) CVS Health Corp............................... 113,204 9,714,035 0.3% Mondelez International, Inc. Class A.......... 196,387 6,924,606 0.2% Procter & Gamble Co. (The).................... 105,525 9,209,167 0.3% Wal-Mart Stores, Inc.......................... 102,008 7,780,150 0.2% Other Securities.............................. 119,884,682 3.4% --------------- ------ Total Consumer Staples............................ 153,512,640 4.4% --------------- ------ Energy -- (9.6%) Anadarko Petroleum Corp....................... 78,236 7,180,500 0.2% Chesapeake Energy Corp........................ 444,198 9,852,312 0.3% Chevron Corp.................................. 304,598 36,536,530 1.1% ConocoPhillips................................ 228,045 16,453,447 0.5% Exxon Mobil Corp.............................. 436,562 42,219,911 1.2% Marathon Oil Corp............................. 194,277 6,877,406 0.2% Occidental Petroleum Corp..................... 145,981 12,982,090 0.4% Tesoro Corp................................... 131,157 9,365,921 0.3% Other Securities.............................. 246,404,013 6.9% --------------- ------ Total Energy...................................... 387,872,130 11.1% --------------- ------ Financials -- (20.3%) American Financial Group, Inc................. 113,571 6,794,953 0.2% American International Group, Inc............. 128,798 6,899,709 0.2% Bank of America Corp.......................... 1,204,998 20,677,766 0.6% Citigroup, Inc................................ 374,753 20,060,528 0.6% Fifth Third Bancorp........................... 469,063 9,376,569 0.3% Goldman Sachs Group, Inc. (The)............... 52,050 9,888,979 0.3% Hartford Financial Services Group, Inc. (The). 257,997 10,211,521 0.3% JPMorgan Chase & Co........................... 438,800 26,538,624 0.8% # M&T Bank Corp................................. 59,225 7,236,110 0.2% Principal Financial Group, Inc................ 157,281 8,236,806 0.2% Wells Fargo & Co.............................. 479,911 25,478,475 0.7% Other Securities.............................. 666,128,875 18.9% --------------- ------ Total Financials.................................. 817,528,915 23.3% --------------- ------ Health Care -- (7.1%) * Community Health Systems, Inc................. 139,365 7,660,894 0.2% Johnson & Johnson............................. 90,092 9,710,116 0.3% Merck & Co., Inc.............................. 149,737 8,675,762 0.3% Pfizer, Inc................................... 459,005 13,747,200 0.4% UnitedHealth Group, Inc....................... 73,101 6,945,326 0.2% Other Securities.............................. 237,840,156 6.7% --------------- ------ Total Health Care................................. 284,579,454 8.1% --------------- ------ Industrials -- (12.8%) * Avis Budget Group, Inc........................ 124,765 6,955,649 0.2% CSX Corp...................................... 254,141 9,055,044 0.3% 59 U.S. VECTOR EQUITY PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Industrials -- (Continued) General Electric Co................................ 600,239 $ 15,492,169 0.5% Ryder System, Inc.................................. 84,178 7,447,228 0.2% Southwest Airlines Co.............................. 457,205 15,764,428 0.5% Union Pacific Corp................................. 76,102 8,862,078 0.3% Other Securities................................... 450,368,535 12.7% -------------- ------ Total Industrials........................................ 513,945,131 14.7% -------------- ------ Information Technology -- (12.0%) Apple, Inc......................................... 308,343 33,301,044 1.0% Cisco Systems, Inc................................. 296,995 7,267,468 0.2% Hewlett-Packard Co................................. 265,841 9,538,375 0.3% Intel Corp......................................... 534,019 18,161,986 0.5% * Micron Technology, Inc............................. 569,578 18,847,336 0.6% Visa, Inc. Class A................................. 29,003 7,002,194 0.2% Xerox Corp......................................... 731,469 9,713,908 0.3% Other Securities................................... 379,126,950 10.7% -------------- ------ Total Information Technology............................. 482,959,261 13.8% -------------- ------ Materials -- (5.3%) Alcoa, Inc......................................... 555,703 9,313,582 0.3% Other Securities................................... 203,498,776 5.8% -------------- ------ Total Materials.......................................... 212,812,358 6.1% -------------- ------ Other -- (0.0%) Other Securities................................... -- 0.0% -------------- ------ Real Estate Investment Trusts -- (0.0%) Other Securities................................... 331,286 0.0% -------------- ------ Telecommunication Services -- (2.4%) AT&T, Inc.......................................... 1,356,088 47,246,106 1.4% # Frontier Communications Corp....................... 1,416,600 9,264,564 0.3% Verizon Communications, Inc........................ 259,639 13,046,860 0.4% Other Securities................................... 25,696,436 0.6% -------------- ------ Total Telecommunication Services......................... 95,253,966 2.7% -------------- ------ Utilities -- (1.1%) UGI Corp........................................... 220,072 8,294,514 0.3% Other Securities................................... 37,638,733 1.0% -------------- ------ Total Utilities.......................................... 45,933,247 1.3% -------------- ------ TOTAL COMMON STOCKS...................................... 3,483,638,792 99.5% -------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 106,905 0.0% -------------- ------ TEMPORARY CASH INVESTMENTS -- (0.6%) State Street Institutional Liquid Reserves, 0.077%. 24,721,165 24,721,165 0.7% -------------- ------ SECURITIES LENDING COLLATERAL -- (12.9%) (S)@ DFA Short Term Investment Fund..................... 44,982,839 520,451,452 14.9% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $2,903,882,897).............................. $4,028,918,314 115.1% ============== ====== 60 U.S. VECTOR EQUITY PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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........ $ 488,910,404 -- -- $ 488,910,404 Consumer Staples.............. 153,512,640 -- -- 153,512,640 Energy........................ 387,872,130 -- -- 387,872,130 Financials.................... 817,520,648 $ 8,267 -- 817,528,915 Health Care................... 284,498,197 81,257 -- 284,579,454 Industrials................... 513,944,646 485 -- 513,945,131 Information Technology........ 482,959,261 -- -- 482,959,261 Materials..................... 212,812,358 -- -- 212,812,358 Other......................... -- -- -- -- Real Estate Investment Trusts. 331,286 -- -- 331,286 Telecommunication Services.... 95,253,966 -- -- 95,253,966 Utilities..................... 45,933,247 -- -- 45,933,247 Rights/Warrants................. -- 106,905 -- 106,905 Temporary Cash Investments...... 24,721,165 -- -- 24,721,165 Securities Lending Collateral... -- 520,451,452 -- 520,451,452 -------------- ------------ -- -------------- TOTAL........................... $3,508,269,948 $520,648,366 -- $4,028,918,314 ============== ============ == ============== See accompanying Notes to Financial Statements. 61 U.S. SMALL CAP PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (80.3%) Consumer Discretionary -- (13.7%) * Bally Technologies, Inc........................ 257,968 $ 20,740,627 0.2% Brinker International, Inc..................... 379,132 20,336,640 0.2% #* Buffalo Wild Wings, Inc........................ 162,131 24,202,916 0.3% CST Brands, Inc................................ 532,474 20,367,130 0.2% #* Deckers Outdoor Corp........................... 257,054 22,481,943 0.3% DeVry Education Group, Inc..................... 412,952 19,991,006 0.2% Jack in the Box, Inc........................... 308,443 21,911,791 0.2% #* Office Depot, Inc.............................. 3,809,109 19,883,549 0.2% Vail Resorts, Inc.............................. 245,102 21,167,009 0.2% Other Securities............................... 1,382,129,791 15.0% -------------- ------ Total Consumer Discretionary....................... 1,573,212,402 17.0% -------------- ------ Consumer Staples -- (3.1%) # Casey's General Stores, Inc.................... 251,413 20,583,182 0.2% #* TreeHouse Foods, Inc........................... 239,572 20,404,347 0.2% Other Securities............................... 317,916,909 3.5% -------------- ------ Total Consumer Staples............................. 358,904,438 3.9% -------------- ------ Energy -- (4.0%) SemGroup Corp. Class A......................... 263,275 20,206,356 0.2% Western Refining, Inc.......................... 468,468 21,357,456 0.2% Other Securities............................... 410,824,870 4.5% -------------- ------ Total Energy....................................... 452,388,682 4.9% -------------- ------ Financials -- (14.0%) Hanover Insurance Group, Inc. (The)............ 296,712 19,861,901 0.2% PacWest Bancorp................................ 526,842 22,475,080 0.3% PRA Group, Inc................................. 343,533 21,728,462 0.2% Primerica, Inc................................. 389,301 19,912,746 0.2% # Webster Financial Corp......................... 636,653 19,952,705 0.2% Other Securities............................... 1,502,713,168 16.3% -------------- ------ Total Financials................................... 1,606,644,062 17.4% -------------- ------ Health Care -- (7.9%) #* Acadia Healthcare Co., Inc..................... 315,944 19,604,325 0.2% #* Akorn, Inc..................................... 616,939 27,484,632 0.3% * Charles River Laboratories International, Inc.. 354,585 22,395,589 0.2% * Health Net, Inc................................ 485,957 23,087,817 0.3% #* Myriad Genetics, Inc........................... 502,527 19,844,791 0.2% #* PAREXEL International Corp..................... 364,006 19,769,166 0.2% STERIS Corp.................................... 354,414 21,902,785 0.2% * Team Health Holdings, Inc...................... 313,378 19,598,660 0.2% * VCA, Inc....................................... 609,114 27,757,325 0.3% Other Securities............................... 709,508,725 7.7% -------------- ------ Total Health Care.................................. 910,953,815 9.8% -------------- ------ Industrials -- (14.2%) AMERCO......................................... 73,355 19,888,008 0.2% * Avis Budget Group, Inc......................... 435,404 24,273,773 0.3% # Deluxe Corp.................................... 349,991 21,279,453 0.2% * Esterline Technologies Corp.................... 177,418 20,777,422 0.2% #* JetBlue Airways Corp........................... 2,047,846 23,632,143 0.3% # Landstar System, Inc........................... 301,440 22,309,574 0.2% 62 U.S. SMALL CAP PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Industrials -- (Continued) * Spirit Airlines, Inc............................... 478,914 $ 35,013,403 0.4% Other Securities................................... 1,465,256,854 15.9% --------------- ------ Total Industrials........................................ 1,632,430,630 17.7% --------------- ------ Information Technology -- (15.1%) Belden, Inc........................................ 276,789 19,704,609 0.2% #* Euronet Worldwide, Inc............................. 365,226 19,601,679 0.2% # Lexmark International, Inc. Class A................ 459,716 19,841,343 0.2% * Manhattan Associates, Inc.......................... 530,401 21,274,384 0.2% MAXIMUS, Inc....................................... 410,048 19,870,926 0.2% #* RF Micro Devices, Inc.............................. 2,363,583 30,750,215 0.3% #* SunEdison, Inc..................................... 1,101,380 21,487,924 0.2% * TriQuint Semiconductor, Inc........................ 972,167 21,027,972 0.2% #* Tyler Technologies, Inc............................ 193,221 21,625,294 0.2% * Verint Systems, Inc................................ 375,753 21,602,040 0.2% * Zebra Technologies Corp. Class A................... 299,973 22,123,009 0.2% Other Securities................................... 1,495,177,591 16.4% --------------- ------ Total Information Technology............................. 1,734,086,986 18.7% --------------- ------ Materials -- (4.6%) * KapStone Paper and Packaging Corp.................. 691,634 21,274,662 0.2% PolyOne Corp....................................... 529,913 19,612,080 0.2% Sensient Technologies Corp......................... 344,921 20,412,425 0.2% Other Securities................................... 463,837,105 5.1% --------------- ------ Total Materials.......................................... 525,136,272 5.7% --------------- ------ Other -- (0.0%) Other Securities................................... -- 0.0% --------------- ------ Real Estate Investment Trusts -- (0.1%) Other Securities................................... 6,833,308 0.1% --------------- ------ Telecommunication Services -- (0.6%) Other Securities................................... 66,162,824 0.7% --------------- ------ Utilities -- (3.0%) # IDACORP, Inc....................................... 340,628 21,537,908 0.2% # Portland General Electric Co....................... 536,212 19,523,479 0.2% Other Securities................................... 300,094,187 3.3% --------------- ------ Total Utilities.......................................... 341,155,574 3.7% --------------- ------ TOTAL COMMON STOCKS...................................... 9,207,908,993 99.6% --------------- ------ PREFERRED STOCKS -- (0.0%) Other -- (0.0%) Other Securities................................... -- 0.0% --------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 649,334 0.0% --------------- ------ TEMPORARY CASH INVESTMENTS -- (0.5%) State Street Institutional Liquid Reserves, 0.077%. 60,668,500 60,668,500 0.7% --------------- ------ SECURITIES LENDING COLLATERAL -- (19.2%) (S)@ DFA Short Term Investment Fund..................... 189,974,372 2,198,003,488 23.7% --------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $8,932,593,064)................................ $11,467,230,315 124.0% =============== ====== 63 U.S. SMALL CAP PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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........ $1,573,212,400 $ 2 -- $ 1,573,212,402 Consumer Staples.............. 358,904,438 -- -- 358,904,438 Energy........................ 452,346,657 42,025 -- 452,388,682 Financials.................... 1,606,582,081 61,981 -- 1,606,644,062 Health Care................... 910,730,859 222,956 -- 910,953,815 Industrials................... 1,632,425,904 4,726 -- 1,632,430,630 Information Technology........ 1,734,086,986 -- -- 1,734,086,986 Materials..................... 525,136,272 -- -- 525,136,272 Other......................... -- -- -- -- Real Estate Investment Trusts. 6,833,308 -- -- 6,833,308 Telecommunication Services.... 66,162,824 -- -- 66,162,824 Utilities..................... 341,155,574 -- -- 341,155,574 Preferred Stocks Other......................... -- -- -- -- Rights/Warrants................. -- 649,334 -- 649,334 Temporary Cash Investments...... 60,668,500 -- -- 60,668,500 Securities Lending Collateral... -- 2,198,003,488 -- 2,198,003,488 -------------- -------------- -- --------------- TOTAL........................... $9,268,245,803 $2,198,984,512 -- $11,467,230,315 ============== ============== == =============== See accompanying Notes to Financial Statements. 64 U.S. MICRO CAP PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (83.1%) Consumer Discretionary -- (15.5%) * American Axle & Manufacturing Holdings, Inc.. 680,737 $ 13,158,646 0.3% * Asbury Automotive Group, Inc................. 267,366 18,726,315 0.4% * Barnes & Noble, Inc.......................... 568,814 12,411,521 0.3% * Fiesta Restaurant Group, Inc................. 292,642 16,139,206 0.3% Finish Line, Inc. (The) Class A.............. 589,373 15,600,703 0.3% #* G-III Apparel Group, Ltd..................... 193,446 15,349,940 0.3% #* Gentherm, Inc................................ 334,287 13,939,768 0.3% * Grand Canyon Education, Inc.................. 367,324 17,594,820 0.4% #* Krispy Kreme Doughnuts, Inc.................. 695,719 13,163,003 0.3% La-Z-Boy, Inc................................ 590,026 13,487,994 0.3% # Nexstar Broadcasting Group, Inc. Class A..... 281,414 12,697,400 0.3% # Papa John's International, Inc............... 394,891 18,465,103 0.4% #* Pinnacle Entertainment, Inc.................. 540,950 13,864,549 0.3% * Skechers U.S.A., Inc. Class A................ 270,836 14,828,271 0.3% #* Sonic Corp................................... 668,078 16,842,246 0.3% Other Securities............................. 706,781,303 13.8% ------------ ------ Total Consumer Discretionary..................... 933,050,788 18.6% ------------ ------ Consumer Staples -- (3.3%) Andersons, Inc. (The)........................ 269,438 17,171,284 0.4% # Cal-Maine Foods, Inc......................... 193,250 16,965,417 0.3% J&J Snack Foods Corp......................... 159,784 16,462,545 0.3% #* Revlon, Inc. Class A......................... 378,632 12,987,078 0.3% #* USANA Health Sciences, Inc................... 141,615 16,141,278 0.3% Other Securities............................. 121,056,784 2.4% ------------ ------ Total Consumer Staples........................... 200,784,386 4.0% ------------ ------ Energy -- (3.7%) # EnLink Midstream LLC......................... 393,707 14,921,495 0.3% Other Securities............................. 207,038,617 4.1% ------------ ------ Total Energy..................................... 221,960,112 4.4% ------------ ------ Financials -- (14.6%) #* Encore Capital Group, Inc.................... 304,239 13,845,917 0.3% # FBL Financial Group, Inc. Class A............ 271,426 13,457,301 0.3% Horace Mann Educators Corp................... 426,348 12,965,243 0.3% Interactive Brokers Group, Inc. Class A...... 531,116 13,713,415 0.3% * Western Alliance Bancorp..................... 615,654 16,388,709 0.3% Other Securities............................. 809,367,891 16.0% ------------ ------ Total Financials................................. 879,738,476 17.5% ------------ ------ Health Care -- (8.4%) * Amsurg Corp.................................. 250,349 13,521,349 0.3% Cantel Medical Corp.......................... 297,616 12,618,918 0.3% * Greatbatch, Inc.............................. 248,195 12,456,907 0.3% * NuVasive, Inc................................ 346,328 14,164,815 0.3% * Prestige Brands Holdings, Inc................ 348,415 12,340,859 0.3% Other Securities............................. 439,265,444 8.5% ------------ ------ Total Health Care................................ 504,368,292 10.0% ------------ ------ Industrials -- (15.6%) # Apogee Enterprises, Inc...................... 317,666 13,945,537 0.3% #* EnPro Industries, Inc........................ 210,828 13,604,731 0.3% # Greenbrier Cos., Inc. (The).................. 233,628 14,611,095 0.3% 65 U.S. MICRO CAP PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Industrials -- (Continued) H&E Equipment Services, Inc........................ 339,346 $ 12,688,147 0.3% * Huron Consulting Group, Inc........................ 179,182 12,472,859 0.3% Mueller Water Products, Inc. Class A............... 1,527,697 15,078,369 0.3% Other Securities................................... 858,642,440 16.9% -------------- ------ Total Industrials........................................ 941,043,178 18.7% -------------- ------ Information Technology -- (14.9%) #* Electronics for Imaging, Inc....................... 305,091 13,948,761 0.3% # Heartland Payment Systems, Inc..................... 346,861 17,915,371 0.4% * Integrated Device Technology, Inc.................. 1,015,649 16,666,800 0.3% * Manhattan Associates, Inc.......................... 380,234 15,251,186 0.3% Methode Electronics, Inc........................... 463,289 18,244,321 0.4% #* SunEdison, Inc..................................... 1,009,218 19,689,843 0.4% Tessera Technologies, Inc.......................... 421,657 12,814,156 0.3% * TriQuint Semiconductor, Inc........................ 757,922 16,393,853 0.3% #* Unisys Corp........................................ 544,766 13,967,800 0.3% Other Securities................................... 751,678,217 14.8% -------------- ------ Total Information Technology............................. 896,570,308 17.8% -------------- ------ Materials -- (4.6%) * Century Aluminum Co................................ 535,169 15,669,748 0.3% * Clearwater Paper Corp.............................. 193,931 12,479,460 0.3% Other Securities................................... 249,382,985 4.9% -------------- ------ Total Materials.......................................... 277,532,193 5.5% -------------- ------ Other -- (0.0%) Other Securities................................... -- 0.0% -------------- ------ Real Estate Investment Trusts -- (0.0%) Other Securities................................... 2,396,667 0.1% -------------- ------ Telecommunication Services -- (1.0%) Other Securities................................... 63,026,319 1.3% -------------- ------ Utilities -- (1.5%) American States Water Co........................... 369,652 13,226,148 0.3% # MGE Energy, Inc.................................... 294,935 13,115,759 0.3% Other Securities................................... 62,966,045 1.2% -------------- ------ Total Utilities.......................................... 89,307,952 1.8% -------------- ------ TOTAL COMMON STOCKS...................................... 5,009,778,671 99.7% -------------- ------ PREFERRED STOCKS -- (0.0%) Other -- (0.0%) Other Securities................................... -- 0.0% -------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 269,653 0.0% -------------- ------ TEMPORARY CASH INVESTMENTS -- (0.3%) State Street Institutional Liquid Reserves, 0.077%. 16,819,521 16,819,521 0.3% -------------- ------ SECURITIES LENDING COLLATERAL -- (16.6%) (S)@ DFA Short Term Investment Fund..................... 86,521,072 1,001,048,800 19.9% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $4,367,248,025)................................ $6,027,916,645 119.9% ============== ====== 66 U.S. MICRO CAP PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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........ $ 933,050,787 $ 1 -- $ 933,050,788 Consumer Staples.............. 200,784,386 -- -- 200,784,386 Energy........................ 221,805,032 155,080 -- 221,960,112 Financials.................... 879,666,150 72,326 -- 879,738,476 Health Care................... 504,182,595 185,697 -- 504,368,292 Industrials................... 941,039,023 4,155 -- 941,043,178 Information Technology........ 896,570,308 -- -- 896,570,308 Materials..................... 277,532,193 -- -- 277,532,193 Other......................... -- -- -- -- Real Estate Investment Trusts. 2,396,667 -- -- 2,396,667 Telecommunication Services.... 63,026,319 -- -- 63,026,319 Utilities..................... 89,307,952 -- -- 89,307,952 Preferred Stocks Other......................... -- -- -- -- Rights/Warrants................. -- 269,653 -- 269,653 Temporary Cash Investments...... 16,819,521 -- -- 16,819,521 Securities Lending Collateral... -- 1,001,048,800 -- 1,001,048,800 -------------- -------------- -- -------------- TOTAL........................... $5,026,180,933 $1,001,735,712 -- $6,027,916,645 ============== ============== == ============== See accompanying Notes to Financial Statements. 67 DFA REAL ESTATE SECURITIES PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (90.0%) Real Estate Investment Trusts -- (90.0%) Alexandria Real Estate Equities, Inc.......... 791,699 $ 65,711,017 1.0% # American Campus Communities, Inc.............. 1,153,808 45,310,040 0.7% # American Realty Capital Properties, Inc....... 5,321,381 47,200,649 0.7% Apartment Investment & Management Co. Class A. 1,624,363 58,135,952 0.9% # AvalonBay Communities, Inc.................... 1,431,583 223,097,895 3.4% # BioMed Realty Trust, Inc...................... 2,139,472 46,469,332 0.7% Boston Properties, Inc........................ 1,673,636 212,133,363 3.2% Camden Property Trust......................... 947,053 72,610,554 1.1% # CBL & Associates Properties, Inc.............. 1,839,671 35,192,906 0.5% CubeSmart..................................... 1,589,488 33,458,722 0.5% # DDR Corp...................................... 3,339,854 60,584,952 0.9% # Digital Realty Trust, Inc..................... 1,494,005 103,071,405 1.6% Douglas Emmett, Inc........................... 1,494,511 42,040,594 0.6% Duke Realty Corp.............................. 3,643,400 69,078,864 1.0% # EPR Properties................................ 597,214 33,503,705 0.5% Equity Lifestyle Properties, Inc.............. 859,740 42,213,234 0.6% # Equity Residential............................ 3,771,256 262,328,567 4.0% # Essex Property Trust, Inc..................... 685,289 138,263,909 2.1% # Extra Space Storage, Inc...................... 1,217,347 70,800,902 1.1% # Federal Realty Investment Trust............... 728,119 95,966,084 1.5% General Growth Properties, Inc................ 5,802,509 150,343,008 2.3% HCP, Inc...................................... 5,063,898 222,659,595 3.4% Health Care REIT, Inc......................... 3,459,746 246,022,538 3.7% # Highwoods Properties, Inc..................... 997,646 42,769,084 0.6% # Home Properties, Inc.......................... 621,337 39,958,182 0.6% Hospitality Properties Trust.................. 1,637,839 48,496,413 0.7% Host Hotels & Resorts, Inc.................... 8,279,024 192,984,049 2.9% # Kilroy Realty Corp............................ 911,462 61,742,436 0.9% # Kimco Realty Corp............................. 4,516,480 112,686,176 1.7% # LaSalle Hotel Properties...................... 1,141,367 44,753,000 0.7% Liberty Property Trust........................ 1,633,481 56,796,134 0.9% # Macerich Co. (The)............................ 1,539,214 108,514,587 1.6% # Mid-America Apartment Communities, Inc........ 819,830 57,929,188 0.9% # National Retail Properties, Inc............... 1,384,837 52,789,986 0.8% # Omega Healthcare Investors, Inc............... 1,382,991 52,774,937 0.8% Prologis, Inc................................. 5,512,059 229,577,257 3.5% Public Storage................................ 1,571,862 289,757,041 4.4% # Realty Income Corp............................ 2,420,743 111,426,800 1.7% # Regency Centers Corp.......................... 1,007,704 61,167,633 0.9% RLJ Lodging Trust............................. 1,128,833 36,370,999 0.5% # Senior Housing Properties Trust............... 2,260,850 51,072,602 0.8% Simon Property Group, Inc..................... 3,371,761 604,253,289 9.1% # SL Green Realty Corp.......................... 1,058,736 122,495,755 1.9% Sunstone Hotel Investors, Inc................. 2,212,797 33,877,922 0.5% Tanger Factory Outlet Centers, Inc............ 1,069,184 38,244,712 0.6% Taubman Centers, Inc.......................... 695,179 52,868,363 0.8% # UDR, Inc...................................... 2,771,443 83,780,722 1.3% # Ventas, Inc................................... 3,262,593 223,520,246 3.4% Vornado Realty Trust.......................... 1,850,466 202,589,018 3.1% # Weingarten Realty Investors................... 1,269,483 46,018,759 0.7% Other Securities.............................. 1,148,616,643 17.4% -------------- ------ TOTAL COMMON STOCKS............................... 6,584,029,720 99.7% -------------- ------ 68 DFA REAL ESTATE SECURITIES PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- TEMPORARY CASH INVESTMENTS -- (0.4%) State Street Institutional Liquid Reserves, 0.077%. 27,425,306 $ 27,425,306 0.4% -------------- ------ SECURITIES LENDING COLLATERAL -- (9.6%) (S)@ DFA Short Term Investment Fund..................... 60,664,727 701,890,889 10.6% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $5,122,699,751)................................ $7,313,345,915 110.7% ============== ====== Summary of the Portfolio's investments as of October 31, 2014, 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. $6,584,029,720 -- -- $6,584,029,720 Temporary Cash Investments...... 27,425,306 -- -- 27,425,306 Securities Lending Collateral... -- $701,890,889 -- 701,890,889 -------------- ------------ -- -------------- TOTAL........................... $6,611,455,026 $701,890,889 -- $7,313,345,915 ============== ============ == ============== See accompanying Notes to Financial Statements. 69 LARGE CAP INTERNATIONAL PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (94.2%) AUSTRALIA -- (6.6%) Australia & New Zealand Banking Group, Ltd.. 526,856 $ 15,589,969 0.5% BHP Billiton, Ltd........................... 571,441 17,095,701 0.6% Commonwealth Bank of Australia.............. 314,221 22,344,073 0.7% National Australia Bank, Ltd................ 454,011 14,045,173 0.5% # Westpac Banking Corp........................ 453,022 13,905,175 0.5% Other Securities............................ 134,310,814 4.1% ------------ ------ TOTAL AUSTRALIA................................. 217,290,905 6.9% ------------ ------ AUSTRIA -- (0.2%) Other Securities............................ 7,427,701 0.2% ------------ ------ BELGIUM -- (1.2%) Anheuser-Busch InBev NV..................... 144,598 16,035,104 0.5% Other Securities............................ 22,572,524 0.7% ------------ ------ TOTAL BELGIUM................................... 38,607,628 1.2% ------------ ------ CANADA -- (9.3%) Bank of Nova Scotia (The)................... 196,436 12,029,646 0.4% Canadian National Railway Co................ 152,460 10,748,832 0.4% # Royal Bank of Canada........................ 225,667 16,020,245 0.5% Suncor Energy, Inc.......................... 296,232 10,518,792 0.3% # Toronto-Dominion Bank (The)................. 301,119 14,820,169 0.5% Other Securities............................ 242,622,337 7.7% ------------ ------ TOTAL CANADA.................................... 306,760,021 9.8% ------------ ------ CHINA -- (0.0%) Other Securities............................ 3,494 0.0% ------------ ------ DENMARK -- (1.5%) Novo Nordisk A.S. Class B................... 330,597 14,943,883 0.5% Other Securities............................ 34,075,141 1.1% ------------ ------ TOTAL DENMARK................................... 49,019,024 1.6% ------------ ------ FINLAND -- (0.9%) Other Securities............................ 29,928,767 1.0% ------------ ------ FRANCE -- (8.1%) BNP Paribas SA.............................. 203,287 12,774,973 0.4% GDF Suez.................................... 405,920 9,855,705 0.3% Sanofi...................................... 182,023 16,516,773 0.5% Total SA.................................... 344,554 20,570,996 0.7% Total SA Sponsored ADR...................... 157,489 9,432,016 0.3% Other Securities............................ 197,427,518 6.3% ------------ ------ TOTAL FRANCE.................................... 266,577,981 8.5% ------------ ------ GERMANY -- (6.9%) Allianz SE.................................. 62,165 9,885,610 0.3% BASF SE..................................... 181,171 16,008,296 0.5% Bayer AG.................................... 148,280 21,207,267 0.7% Daimler AG.................................. 228,081 17,783,242 0.6% Deutsche Telekom AG......................... 651,915 9,826,521 0.3% SAP SE...................................... 139,819 9,526,626 0.3% 70 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- GERMANY -- (Continued) Siemens AG............................ 130,441 $ 14,712,887 0.5% Other Securities...................... 129,566,943 4.1% ------------ ------ TOTAL GERMANY............................. 228,517,392 7.3% ------------ ------ HONG KONG -- (2.8%) AIA Group, Ltd........................ 2,277,800 12,711,091 0.4% Other Securities...................... 79,404,008 2.5% ------------ ------ TOTAL HONG KONG........................... 92,115,099 2.9% ------------ ------ IRELAND -- (0.3%) Other Securities...................... 10,902,224 0.4% ------------ ------ ISRAEL -- (0.5%) Other Securities...................... 16,449,184 0.5% ------------ ------ ITALY -- (2.0%) Other Securities...................... 64,765,328 2.1% ------------ ------ JAPAN -- (18.6%) Softbank Corp......................... 209,500 15,251,477 0.5% Sumitomo Mitsui Financial Group, Inc.. 286,140 11,669,620 0.4% Toyota Motor Corp..................... 378,600 22,783,080 0.7% # Toyota Motor Corp. Sponsored ADR...... 105,729 12,830,214 0.4% Other Securities...................... 553,051,651 17.7% ------------ ------ TOTAL JAPAN............................... 615,586,042 19.7% ------------ ------ NETHERLANDS -- (2.4%) Unilever NV........................... 266,779 10,339,940 0.3% Other Securities...................... 68,414,087 2.2% ------------ ------ TOTAL NETHERLANDS......................... 78,754,027 2.5% ------------ ------ NEW ZEALAND -- (0.1%) Other Securities...................... 3,501,854 0.1% ------------ ------ NORWAY -- (0.8%) Other Securities...................... 26,556,960 0.9% ------------ ------ PORTUGAL -- (0.1%) Other Securities...................... 4,838,531 0.2% ------------ ------ SINGAPORE -- (1.4%) Other Securities...................... 45,340,958 1.5% ------------ ------ SPAIN -- (2.9%) Banco Santander SA.................... 1,186,769 10,485,725 0.3% Other Securities...................... 84,238,910 2.7% ------------ ------ TOTAL SPAIN............................... 94,724,635 3.0% ------------ ------ SWEDEN -- (2.7%) Other Securities...................... 90,294,870 2.9% ------------ ------ SWITZERLAND -- (7.7%) Nestle SA............................. 676,440 49,606,116 1.6% Novartis AG........................... 316,879 29,407,276 0.9% Roche Holding AG...................... 154,264 45,523,518 1.5% 71 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- SWITZERLAND -- (Continued) UBS AG.................................. 590,475 $ 10,267,258 0.3% Other Securities........................ 121,195,401 3.9% -------------- ------ TOTAL SWITZERLAND............................. 255,999,569 8.2% -------------- ------ UNITED KINGDOM -- (17.2%) AstraZeneca P.L.C....................... 135,231 9,878,401 0.3% BG Group P.L.C.......................... 671,968 11,199,040 0.4% BP P.L.C. Sponsored ADR................. 574,678 24,975,506 0.8% British American Tobacco P.L.C.......... 312,442 17,708,463 0.6% Diageo P.L.C. Sponsored ADR............. 84,093 9,920,451 0.3% GlaxoSmithKline P.L.C................... 551,788 12,478,114 0.4% GlaxoSmithKline P.L.C. Sponsored ADR.... 251,446 11,438,278 0.4% HSBC Holdings P.L.C..................... 1,656,444 16,888,049 0.5% HSBC Holdings P.L.C. Sponsored ADR...... 376,440 19,205,968 0.6% * Lloyds Banking Group P.L.C.............. 10,257,881 12,667,343 0.4% Reckitt Benckiser Group P.L.C........... 128,515 10,823,979 0.3% Royal Dutch Shell P.L.C. ADR(780259107). 236,955 17,693,430 0.6% Royal Dutch Shell P.L.C. ADR(780259206). 214,807 15,420,994 0.5% SABMiller P.L.C......................... 165,893 9,383,398 0.3% Vodafone Group P.L.C. Sponsored ADR..... 316,816 10,524,640 0.3% Other Securities........................ 357,097,125 11.4% -------------- ------ TOTAL UNITED KINGDOM.......................... 567,303,179 18.1% -------------- ------ TOTAL COMMON STOCKS........................... 3,111,265,373 99.5% -------------- ------ PREFERRED STOCKS -- (0.1%) GERMANY -- (0.1%) Other Securities........................ 1,582,057 0.1% -------------- ------ UNITED KINGDOM -- (0.0%) Other Securities........................ 63,660 0.0% -------------- ------ TOTAL PREFERRED STOCKS........................ 1,645,717 0.1% -------------- ------ RIGHTS/WARRANTS -- (0.0%) FRANCE -- (0.0%) Other Securities........................ 100,270 0.0% -------------- ------ GERMANY -- (0.0%) Other Securities........................ 12,601 0.0% -------------- ------ SPAIN -- (0.0%) Other Securities........................ 226,054 0.0% -------------- ------ TOTAL RIGHTS/WARRANTS......................... 338,925 0.0% -------------- ------ Value+ - ------ - SECURITIES LENDING COLLATERAL -- (5.7%) (S)@ DFA Short Term Investment Fund.......... 16,325,035 188,880,651 6.0% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $2,750,017,138)..................... $3,302,130,666 105.6% ============== ====== 72 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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................... $ 8,253,899 $ 209,037,006 -- $ 217,290,905 Austria..................... 36,240 7,391,461 -- 7,427,701 Belgium..................... 3,743,401 34,864,227 -- 38,607,628 Canada...................... 306,760,021 -- -- 306,760,021 China....................... -- 3,494 -- 3,494 Denmark..................... 5,265,955 43,753,069 -- 49,019,024 Finland..................... 1,828,828 28,099,939 -- 29,928,767 France...................... 14,281,625 252,296,356 -- 266,577,981 Germany..................... 20,097,451 208,419,941 -- 228,517,392 Hong Kong................... 942,735 91,172,364 -- 92,115,099 Ireland..................... 2,411,937 8,490,287 -- 10,902,224 Israel...................... 9,386,887 7,062,297 -- 16,449,184 Italy....................... 5,549,475 59,215,853 -- 64,765,328 Japan....................... 41,929,430 573,656,612 -- 615,586,042 Netherlands................. 13,454,571 65,299,456 -- 78,754,027 New Zealand................. -- 3,501,854 -- 3,501,854 Norway...................... 2,043,769 24,513,191 -- 26,556,960 Portugal.................... 33,089 4,805,442 -- 4,838,531 Singapore................... -- 45,340,958 -- 45,340,958 Spain....................... 20,154,651 74,569,984 -- 94,724,635 Sweden...................... 694,698 89,600,172 -- 90,294,870 Switzerland................. 18,961,389 237,038,180 -- 255,999,569 United Kingdom.............. 179,901,050 387,402,129 -- 567,303,179 Preferred Stocks Germany..................... -- 1,582,057 -- 1,582,057 United Kingdom.............. -- 63,660 -- 63,660 Rights/Warrants France...................... -- 100,270 -- 100,270 Germany..................... -- 12,601 -- 12,601 Spain....................... -- 226,054 -- 226,054 Securities Lending Collateral. -- 188,880,651 -- 188,880,651 ------------ -------------- -- -------------- TOTAL......................... $655,731,101 $2,646,399,565 -- $3,302,130,666 ============ ============== == ============== See accompanying Notes to Financial Statements. 73 INTERNATIONAL CORE EQUITY PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (90.3%) AUSTRALIA -- (6.1%) # Australia & New Zealand Banking Group, Ltd.. 1,174,816 $ 34,763,475 0.3% BHP Billiton, Ltd........................... 1,834,078 54,869,794 0.5% # BHP Billiton, Ltd. Sponsored ADR............ 530,936 31,558,836 0.3% # Commonwealth Bank of Australia.............. 466,598 33,179,512 0.3% National Australia Bank, Ltd................ 1,331,618 41,194,608 0.4% # Westpac Banking Corp........................ 980,394 30,092,469 0.3% Other Securities............................ 600,034,640 4.6% -------------- ---- TOTAL AUSTRALIA................................. 825,693,334 6.7% -------------- ---- AUSTRIA -- (0.4%) Other Securities............................ 54,090,008 0.4% -------------- ---- BELGIUM -- (1.3%) Anheuser-Busch InBev NV..................... 322,414 35,753,896 0.3% Other Securities............................ 143,017,571 1.2% -------------- ---- TOTAL BELGIUM................................... 178,771,467 1.5% -------------- ---- CANADA -- (8.4%) Suncor Energy, Inc.(867224107).............. 812,323 28,869,959 0.3% Suncor Energy, Inc.(B3NB1P2)................ 729,529 25,904,573 0.2% # Toronto-Dominion Bank (The)................. 701,544 34,527,879 0.3% Other Securities............................ 1,050,879,382 8.5% -------------- ---- TOTAL CANADA.................................... 1,140,181,793 9.3% -------------- ---- CHINA -- (0.0%) Other Securities............................ 423,278 0.0% -------------- ---- DENMARK -- (1.4%) Other Securities............................ 185,872,965 1.5% -------------- ---- FINLAND -- (1.4%) # Nokia Oyj................................... 3,385,926 28,292,441 0.2% Other Securities............................ 160,415,860 1.3% -------------- ---- TOTAL FINLAND................................... 188,708,301 1.5% -------------- ---- FRANCE -- (6.8%) BNP Paribas SA.............................. 431,572 27,120,869 0.2% GDF Suez.................................... 1,783,905 43,313,070 0.4% Orange SA................................... 2,068,708 32,934,599 0.3% Total SA.................................... 1,517,702 90,611,752 0.7% # Total SA Sponsored ADR...................... 595,142 35,643,054 0.3% Other Securities............................ 692,177,521 5.6% -------------- ---- TOTAL FRANCE.................................... 921,800,865 7.5% -------------- ---- GERMANY -- (5.8%) Bayerische Motoren Werke AG................. 414,948 44,498,071 0.4% Daimler AG.................................. 529,376 41,274,905 0.3% Deutsche Telekom AG......................... 2,378,113 35,846,051 0.3% Fresenius SE & Co. KGaA..................... 612,582 31,521,025 0.3% RWE AG...................................... 793,387 28,150,774 0.2% Other Securities............................ 599,975,595 4.9% -------------- ---- TOTAL GERMANY................................... 781,266,421 6.4% -------------- ---- 74 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- GREECE -- (0.0%) Other Securities................................... $ -- 0.0% -------------- ----- HONG KONG -- (2.7%) Other Securities................................... 361,323,579 2.9% -------------- ----- IRELAND -- (0.4%) Other Securities................................... 51,166,064 0.4% -------------- ----- ISRAEL -- (0.6%) Teva Pharmaceutical Industries, Ltd. Sponsored ADR. 588,403 33,227,117 0.3% Other Securities................................... 54,097,308 0.4% -------------- ----- TOTAL ISRAEL........................................... 87,324,425 0.7% -------------- ----- ITALY -- (2.2%) Eni SpA............................................ 1,478,324 31,495,536 0.3% Other Securities................................... 269,095,017 2.1% -------------- ----- TOTAL ITALY............................................ 300,590,553 2.4% -------------- ----- JAPAN -- (19.1%) Honda Motor Co., Ltd............................... 825,300 26,384,206 0.2% Sumitomo Mitsui Financial Group, Inc............... 754,470 30,769,477 0.3% Toyota Motor Corp.................................. 1,137,986 68,480,785 0.6% # Toyota Motor Corp. Sponsored ADR................... 396,641 48,132,385 0.4% Other Securities................................... 2,413,924,440 19.5% -------------- ----- TOTAL JAPAN............................................ 2,587,691,293 21.0% -------------- ----- NETHERLANDS -- (2.3%) Other Securities................................... 305,642,445 2.5% -------------- ----- NEW ZEALAND -- (0.3%) Other Securities................................... 38,675,624 0.3% -------------- ----- NORWAY -- (0.9%) Other Securities................................... 122,185,630 1.0% -------------- ----- PORTUGAL -- (0.3%) Other Securities................................... 37,236,707 0.3% -------------- ----- RUSSIA -- (0.0%) Other Securities................................... 106,452 0.0% -------------- ----- SINGAPORE -- (1.3%) Other Securities................................... 171,323,820 1.4% -------------- ----- SPAIN -- (2.5%) Banco Santander SA................................. 4,404,667 38,917,538 0.3% Iberdrola SA....................................... 3,664,318 25,939,399 0.2% Other Securities................................... 276,645,107 2.3% -------------- ----- TOTAL SPAIN............................................ 341,502,044 2.8% -------------- ----- SWEDEN -- (2.8%) Other Securities................................... 381,446,780 3.1% -------------- ----- SWITZERLAND -- (6.2%) ABB, Ltd........................................... 1,199,336 26,311,835 0.2% Credit Suisse Group AG............................. 1,122,531 29,908,488 0.3% 75 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- SWITZERLAND -- (Continued) Nestle SA............................... 2,189,299 $ 160,550,262 1.3% Novartis AG ADR......................... 818,651 75,880,761 0.6% Roche Holding AG........................ 142,703 42,111,851 0.4% Swiss Re AG............................. 365,604 29,563,037 0.3% Zurich Insurance Group AG............... 107,594 32,561,006 0.3% Other Securities........................ 445,138,708 3.5% --------------- ----- TOTAL SWITZERLAND........................... 842,025,948 6.9% --------------- ----- UNITED KINGDOM -- (17.1%) Anglo American P.L.C.................... 1,402,287 29,607,257 0.2% AstraZeneca P.L.C. Sponsored ADR........ 466,782 34,047,079 0.3% Aviva P.L.C............................. 3,728,348 31,184,842 0.3% # Barclays P.L.C. Sponsored ADR........... 2,072,823 31,921,474 0.3% BG Group P.L.C.......................... 2,660,297 44,336,595 0.4% # BHP Billiton P.L.C. ADR................. 545,653 28,395,782 0.2% BP P.L.C. Sponsored ADR................. 2,024,872 88,000,934 0.7% HSBC Holdings P.L.C. Sponsored ADR...... 1,620,604 82,683,216 0.7% * Lloyds Banking Group P.L.C.............. 48,291,922 59,635,155 0.5% # Prudential P.L.C. ADR................... 599,353 27,768,024 0.2% # Rio Tinto P.L.C. Sponsored ADR.......... 874,782 41,963,293 0.3% # Royal Dutch Shell P.L.C. ADR(780259206). 437,648 31,418,750 0.3% # Royal Dutch Shell P.L.C. ADR(780259107). 1,398,074 104,394,186 0.9% Vodafone Group P.L.C. Sponsored ADR..... 1,234,928 41,024,299 0.3% Other Securities........................ 1,642,525,645 13.3% --------------- ----- TOTAL UNITED KINGDOM........................ 2,318,906,531 18.9% --------------- ----- UNITED STATES -- (0.0%) Other Securities........................ 1,427,849 0.0% --------------- ----- TOTAL COMMON STOCKS......................... 12,225,384,176 99.4% --------------- ----- PREFERRED STOCKS -- (0.0%) GERMANY -- (0.0%) Other Securities........................ 4,578,826 0.1% --------------- ----- UNITED KINGDOM -- (0.0%) Other Securities........................ 135,079 0.0% --------------- ----- TOTAL PREFERRED STOCKS...................... 4,713,905 0.1% --------------- ----- RIGHTS/WARRANTS -- (0.0%) AUSTRALIA -- (0.0%) Other Securities........................ 331 0.0% --------------- ----- AUSTRIA -- (0.0%) Other Securities........................ -- 0.0% --------------- ----- FRANCE -- (0.0%) Other Securities........................ 323,603 0.0% --------------- ----- GERMANY -- (0.0%) Other Securities........................ 152,593 0.0% --------------- ----- HONG KONG -- (0.0%) Other Securities........................ 3,274 0.0% --------------- ----- ITALY -- (0.0%) Other Securities........................ 126,221 0.0% --------------- ----- 76 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- PORTUGAL -- (0.0%) Other Securities................ $ -- 0.0% --------------- ------ SINGAPORE -- (0.0%) Other Securities................ 203 0.0% --------------- ------ SPAIN -- (0.0%) Other Securities................ 885,988 0.0% --------------- ------ UNITED KINGDOM -- (0.0%) Other Securities................ 327,476 0.0% --------------- ------ TOTAL RIGHTS/WARRANTS.................. 1,819,689 0.0% --------------- ------ Value+ - ------ - SECURITIES LENDING COLLATERAL -- (9.7%) (S)@ DFA Short Term Investment Fund.. 113,487,730 1,313,053,034 10.7% --------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $12,383,347,936)............. $13,544,970,804 110.2% =============== ====== 77 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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................... $ 51,305,653 $ 774,387,681 -- $ 825,693,334 Austria..................... 63,420 54,026,588 -- 54,090,008 Belgium..................... 17,745,914 161,025,553 -- 178,771,467 Canada...................... 1,140,163,277 18,516 -- 1,140,181,793 China....................... -- 423,278 -- 423,278 Denmark..................... 8,989,736 176,883,229 -- 185,872,965 Finland..................... 2,879,754 185,828,547 -- 188,708,301 France...................... 87,511,112 834,289,753 -- 921,800,865 Germany..................... 74,885,190 706,381,231 -- 781,266,421 Greece...................... -- -- -- -- Hong Kong................... 1,178,781 360,144,798 -- 361,323,579 Ireland..................... 11,115,124 40,050,940 -- 51,166,064 Israel...................... 35,879,323 51,445,102 -- 87,324,425 Italy....................... 15,954,887 284,635,666 -- 300,590,553 Japan....................... 119,241,147 2,468,450,146 -- 2,587,691,293 Netherlands................. 50,645,185 254,997,260 -- 305,642,445 New Zealand................. 103,194 38,572,430 -- 38,675,624 Norway...................... 19,664,949 102,520,681 -- 122,185,630 Portugal.................... 309,758 36,926,949 -- 37,236,707 Russia...................... -- 106,452 -- 106,452 Singapore................... 14,607 171,309,213 -- 171,323,820 Spain....................... 40,201,547 301,300,497 -- 341,502,044 Sweden...................... 7,291,377 374,155,403 -- 381,446,780 Switzerland................. 115,089,398 726,936,550 -- 842,025,948 United Kingdom.............. 660,083,143 1,658,823,388 -- 2,318,906,531 United States............... 1,397,183 30,666 -- 1,427,849 Preferred Stocks Germany..................... -- 4,578,826 -- 4,578,826 United Kingdom.............. -- 135,079 -- 135,079 Rights/Warrants Australia................... -- 331 -- 331 Austria..................... -- -- -- -- France...................... -- 323,603 -- 323,603 Germany..................... -- 152,593 -- 152,593 Hong Kong................... -- 3,274 -- 3,274 Italy....................... -- 126,221 -- 126,221 Portugal.................... -- -- -- -- Singapore................... -- 203 -- 203 Spain....................... -- 885,988 -- 885,988 United Kingdom.............. 312,720 14,756 -- 327,476 Securities Lending Collateral. -- 1,313,053,034 -- 1,313,053,034 -------------- --------------- -- --------------- TOTAL......................... $2,462,026,379 $11,082,944,425 -- $13,544,970,804 ============== =============== == =============== See accompanying Notes to Financial Statements. 78 INTERNATIONAL SMALL COMPANY PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Value+ -------------- AFFILIATED INVESTMENT COMPANIES -- (100.0%) Investment in The Continental Small Company Series of The DFA Investment Trust Company....................... $2,968,704,905 Investment in The Japanese Small Company Series of The DFA Investment Trust Company....................... 1,996,995,740 Investment in The United Kingdom Small Company Series of The DFA Investment Trust Company....................... 1,943,503,950 Investment in The Asia Pacific Small Company Series of The DFA Investment Trust Company....................... 1,089,493,908 Investment in The Canadian Small Company Series of The DFA Investment Trust Company....................... 832,859,362 -------------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANIES (Cost $7,805,376,341)............................... 8,831,557,865 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $7,805,376,341)............................... $8,831,557,865 ============== Summary of the Portfolio's investments as of October 31, 2014, 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. $8,831,557,865 -- -- $8,831,557,865 -------------- -- -- -------------- TOTAL........................... $8,831,557,865 -- -- $8,831,557,865 ============== == == ============== See accompanying Notes to Financial Statements. 79 SCHEDULES OF INVESTMENTS October 31, 2014 JAPANESE SMALL COMPANY PORTFOLIO Value+ ------------ AFFILIATED INVESTMENT COMPANY -- (100.0%) Investment in The Japanese Small Company Series of The DFA Investment Trust Company..................... $508,412,814 ------------ TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANY (Cost $492,146,590)............................... $508,412,814 ============ Summary of the Portfolio's Master Fund's investments as of October 31, 2014, 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..................... $364,292,333 ------------ TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANY (Cost $360,079,976)............................... $364,292,333 ============ Summary of the Portfolio's Master Fund's investments as of October 31, 2014, based on their valuation inputs, is located within this report (See Security Valuation Note). See accompanying Notes to Financial Statements. 80 SCHEDULES OF INVESTMENTS October 31, 2014 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....................... $35,056,995 ----------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANY (Cost $23,694,187)........................................... $35,056,995 =========== Summary of the Portfolio's Master Fund's investments as of October 31, 2014, 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.............................. $169,046,143 ------------ TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANY (Cost $144,331,374).......................................... $169,046,143 ============ Summary of the Portfolio's Master Fund's investments as of October 31, 2014, based on their valuation inputs, is located within this report (See Security Valuation Note). See accompanying Notes to Financial Statements. 81 DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (93.9%) AUSTRALIA -- (19.9%) CFS Retail Property Trust Group. 18,583,289 $ 34,564,786 1.1% # Dexus Property Group............ 46,210,345 49,389,908 1.6% Federation Centres.............. 12,347,359 29,650,888 1.0% # Goodman Group................... 14,756,829 72,045,696 2.3% GPT Group (The)................. 14,160,152 51,470,344 1.7% # Investa Office Fund............. 5,292,776 16,699,243 0.5% #* Scentre Group................... 44,164,851 140,883,146 4.6% Stockland....................... 20,140,623 75,301,288 2.4% * Westfield Corp.................. 16,671,147 117,148,020 3.8% Other Securities................ 64,037,833 2.1% ------------ ----- TOTAL AUSTRALIA..................... 651,191,152 21.1% ------------ ----- BELGIUM -- (1.5%) # Cofinimmo SA.................... 157,224 18,261,633 0.6% Other Securities................ 29,674,061 1.0% ------------ ----- TOTAL BELGIUM....................... 47,935,694 1. 6% ------------ ----- CANADA -- (5.3%) H&R REIT........................ 1,103,860 21,968,489 0.7% # RioCan REIT..................... 1,231,999 29,022,291 0.9% Other Securities................ 121,715,937 4.0% ------------ ----- TOTAL CANADA........................ 172,706,717 5.6% ------------ ----- CHINA -- (0.2%) Other Securities................ 4,982,005 0.2% ------------ ----- FRANCE -- (4.0%) Fonciere Des Regions............ 257,388 23,663,104 0.8% Gecina SA....................... 208,873 28,268,746 0.9% ICADE........................... 335,700 26,711,749 0.9% Klepierre....................... 905,121 39,175,341 1.3% Other Securities................ 13,559,987 0.4% ------------ ----- TOTAL FRANCE........................ 131,378,927 4.3% ------------ ----- GERMANY -- (0.4%) Other Securities................ 12,143,621 0.4% ------------ ----- GREECE -- (0.0%) Other Securities................ 1,044,767 0.0% ------------ ----- HONG KONG -- (4.3%) Link REIT (The)................. 19,435,805 114,419,536 3.7% Other Securities................ 26,685,286 0.9% ------------ ----- TOTAL HONG KONG..................... 141,104,822 4.6% ------------ ----- ISRAEL -- (0.2%) Other Securities................ 7,565,685 0.2% ------------ ----- ITALY -- (0.3%) Other Securities................ 10,637,538 0.3% ------------ ----- 82 DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- JAPAN -- (17.6%) # Advance Residence Investment Corp.............. 11,195 $ 26,247,032 0.9% Frontier Real Estate Investment Corp........... 4,130 19,022,847 0.6% # Japan Hotel REIT Investment Corp............... 23,536 14,598,992 0.5% Japan Logistics Fund, Inc...................... 7,530 16,920,060 0.5% Japan Prime Realty Investment Corp............. 6,863 25,274,243 0.8% Japan Real Estate Investment Corp.............. 10,905 59,424,068 1.9% Japan Retail Fund Investment Corp.............. 20,401 41,076,269 1.3% # Kenedix Office Investment Corp................. 3,498 18,705,207 0.6% # Mori Hills REIT Investment Corp................ 11,966 16,710,243 0.5% # Mori Trust Sogo Reit, Inc...................... 9,857 17,611,418 0.6% Nippon Accommodations Fund, Inc................ 4,065 14,870,892 0.5% # Nippon Building Fund, Inc...................... 12,309 68,987,575 2.2% # Orix JREIT, Inc................................ 18,506 24,673,376 0.8% # United Urban Investment Corp................... 21,590 34,073,425 1.1% Other Securities............................... 174,753,743 5.7% ------------ ----- TOTAL JAPAN........................................ 572,949,390 18.5% ------------ ----- MALAYSIA -- (0.7%) Other Securities............................... 23,886,457 0.8% ------------ ----- MEXICO -- (1.9%) # Fibra Uno Administracion S.A. de C.V........... 13,210,601 45,852,668 1.5% Other Securities............................... 15,524,460 0.5% ------------ ----- TOTAL MEXICO....................................... 61,377,128 2.0% ------------ ----- NETHERLANDS -- (8.7%) Corio NV....................................... 617,119 30,038,041 1.0% Unibail-Rodamco SE............................. 829,287 212,635,326 6.9% Wereldhave NV.................................. 191,004 15,659,030 0.5% Other Securities............................... 25,689,873 0.8% ------------ ----- TOTAL NETHERLANDS.................................. 284,022,270 9.2% ------------ ----- NEW ZEALAND -- (0.7%) Other Securities............................... 21,664,115 0.7% ------------ ----- SINGAPORE -- (7.3%) Ascendas REIT.................................. 17,145,000 29,780,279 1.0% # CapitaCommercial Trust......................... 17,525,000 22,787,274 0.7% CapitaMall Trust............................... 20,595,300 31,588,897 1.0% # Suntec REIT.................................... 20,476,000 28,447,758 0.9% Other Securities............................... 124,234,624 4.1% ------------ ----- TOTAL SINGAPORE.................................... 236,838,832 7.7% ------------ ----- SOUTH AFRICA -- (3.9%) Growthpoint Properties, Ltd.................... 16,151,406 39,213,098 1.3% Redefine Properties, Ltd....................... 21,537,673 19,515,849 0.6% Other Securities............................... 67,596,797 2.2% ------------ ----- TOTAL SOUTH AFRICA................................. 126,325,744 4.1% ------------ ----- TAIWAN -- (0.4%) Other Securities............................... 13,945,781 0.4% ------------ ----- TURKEY -- (1.0%) # Emlak Konut Gayrimenkul Yatirim Ortakligi A.S.. 19,840,694 22,284,885 0.7% Other Securities............................... 10,751,800 0.4% ------------ ----- TOTAL TURKEY....................................... 33,036,685 1.1% ------------ ----- 83 DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- UNITED KINGDOM -- (15.6%) British Land Co. P.L.C. (The)... 8,315,595 $ 97,098,752 3.1% Derwent London P.L.C............ 814,790 38,765,810 1.2% Great Portland Estates P.L.C.... 2,866,484 31,548,662 1.0% Hammerson P.L.C................. 6,180,158 60,713,819 2.0% Intu Properties P.L.C........... 7,913,628 43,170,585 1.4% Land Securities Group P.L.C..... 6,756,959 119,895,804 3.9% Segro P.L.C..................... 6,175,812 37,624,807 1.2% Shaftesbury P.L.C............... 2,310,809 26,472,834 0.9% Other Securities................ 55,390,765 1.8% -------------- ------ TOTAL UNITED KINGDOM................... 510,681,838 16.5% -------------- ------ TOTAL COMMON STOCKS.................... 3,065,419,168 99.3% -------------- ------ Value+ - ------ - SECURITIES LENDING COLLATERAL -- (6.1%) (S)@ DFA Short Term Investment Fund.. 17,183,072 198,808,147 6.4% -------------- ------ TOTAL INVESTMENTS -- (100.0%).......... (Cost $2,897,109,357).............. $3,264,227,315 105.7% ============== ====== Summary of the Portfolio's investments as of October 31, 2014, 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................... -- $ 651,191,152 -- $ 651,191,152 Belgium..................... -- 47,935,694 -- 47,935,694 Canada...................... $172,706,717 -- -- 172,706,717 China....................... -- 4,982,005 -- 4,982,005 France...................... 93,236 131,285,691 -- 131,378,927 Germany..................... -- 12,143,621 -- 12,143,621 Greece...................... -- 1,044,767 -- 1,044,767 Hong Kong................... -- 141,104,822 -- 141,104,822 Israel...................... -- 7,565,685 -- 7,565,685 Italy....................... -- 10,637,538 -- 10,637,538 Japan....................... -- 572,949,390 -- 572,949,390 Malaysia.................... -- 23,886,457 -- 23,886,457 Mexico...................... 61,377,128 -- -- 61,377,128 Netherlands................. -- 284,022,270 -- 284,022,270 New Zealand................. -- 21,664,115 -- 21,664,115 Singapore................... -- 236,838,832 -- 236,838,832 South Africa................ 21,650,697 104,675,047 -- 126,325,744 Taiwan...................... -- 13,945,781 -- 13,945,781 Turkey...................... -- 33,036,685 -- 33,036,685 United Kingdom.............. -- 510,681,838 -- 510,681,838 Securities Lending Collateral. -- 198,808,147 -- 198,808,147 ------------ -------------- -- -------------- TOTAL......................... $255,827,778 $3,008,399,537 -- $3,264,227,315 ============ ============== == ============== See accompanying Notes to Financial Statements. 84 DFA GLOBAL REAL ESTATE SECURITIES PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Shares Value+ ----------- -------------- AFFILIATED INVESTMENT COMPANIES -- (99.7%) Investment in DFA Real Estate Securities Portfolio of DFA Investment Dimensions Group Inc............................... 63,428,427 $2,044,932,484 Investment in DFA International Real Estate Securities Portfolio of DFA Investment Dimensions Group Inc............................... 222,954,469 1,255,233,660 -------------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANIES (Cost $2,628,854,364).......................................... 3,300,166,144 -------------- TEMPORARY CASH INVESTMENTS -- (0.3%) State Street Institutional Liquid Reserves, 0.077% (Cost $8,924,902)................................................. 8,924,902 8,924,902 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $2,637,779,266).......................................... $3,309,091,046 ============== Summary of the Portfolio's investments as of October 31, 2014, 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. $3,300,166,144 -- -- $3,300,166,144 Temporary Cash Investments...... 8,924,902 -- -- 8,924,902 -------------- -- -- -------------- TOTAL........................... $3,309,091,046 -- -- $3,309,091,046 ============== == == ============== See accompanying Notes to Financial Statements. 85 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (91.6%) AUSTRALIA -- (5.0%) Primary Health Care, Ltd..... 10,511,594 $ 43,076,867 0.4% Other Securities............. 593,827,515 5.0% -------------- ---- TOTAL AUSTRALIA.................. 636,904,382 5.4% -------------- ---- AUSTRIA -- (0.7%) Other Securities............. 83,565,476 0.7% -------------- ---- BELGIUM -- (0.8%) Other Securities............. 103,554,907 0.9% -------------- ---- CANADA -- (7.9%) * Canfor Corp.................. 1,709,447 39,799,378 0.4% * Celestica, Inc............... 4,266,945 46,869,952 0.4% RONA, Inc.................... 3,166,544 38,631,809 0.3% West Fraser Timber Co., Ltd.. 1,107,322 58,094,982 0.5% Other Securities............. 821,935,286 7.0% -------------- ---- TOTAL CANADA..................... 1,005,331,407 8.6% -------------- ---- CHINA -- (0.0%) Other Securities............. 2,698,400 0.0% -------------- ---- DENMARK -- (1.6%) * Vestas Wind Systems A.S...... 2,910,693 97,144,292 0.8% Other Securities............. 110,946,585 1.0% -------------- ---- TOTAL DENMARK.................... 208,090,877 1.8% -------------- ---- FINLAND -- (2.1%) Huhtamaki Oyj................ 1,740,823 44,173,657 0.4% Other Securities............. 219,070,337 1.9% -------------- ---- TOTAL FINLAND.................... 263,243,994 2.3% -------------- ---- FRANCE -- (3.4%) Havas SA..................... 4,936,605 39,930,886 0.4% * Peugeot SA................... 3,646,402 43,335,736 0.4% Other Securities............. 349,882,507 2.9% -------------- ---- TOTAL FRANCE..................... 433,149,129 3.7% -------------- ---- GERMANY -- (4.6%) Aareal Bank AG............... 1,199,589 51,540,648 0.5% Aurubis AG................... 993,104 51,842,435 0.5% TUI AG....................... 3,423,151 52,422,124 0.5% Other Securities............. 423,677,812 3.5% -------------- ---- TOTAL GERMANY.................... 579,483,019 5.0% -------------- ---- GREECE -- (0.0%) Other Securities............. 25,337 0.0% -------------- ---- HONG KONG -- (2.4%) Other Securities............. 300,028,695 2.6% -------------- ---- 86 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- IRELAND -- (0.4%) Smurfit Kappa Group P.L.C............. 2,055,977 $ 42,480,051 0.4% Other Securities...................... 7,511,030 0.0% -------------- ----- TOTAL IRELAND............................. 49,991,081 0.4% -------------- ----- ISRAEL -- (0.7%) Other Securities...................... 83,951,496 0.7% -------------- ----- ITALY -- (3.6%) * Banca Popolare dell'Emilia Romagna SC. 9,396,426 71,701,123 0.6% #* Banca Popolare di Milano Scarl........ 110,262,326 83,107,298 0.7% * Banco Popolare SC..................... 7,116,853 103,381,009 0.9% Other Securities...................... 197,935,036 1.7% -------------- ----- TOTAL ITALY............................... 456,124,466 3.9% -------------- ----- JAPAN -- (22.4%) # Fujikura, Ltd......................... 9,669,000 40,615,669 0.4% Other Securities...................... 2,795,500,479 23.9% -------------- ----- TOTAL JAPAN............................... 2,836,116,148 24.3% -------------- ----- NETHERLANDS -- (2.0%) #* APERAM................................ 1,753,419 50,449,201 0.4% Delta Lloyd NV........................ 2,460,680 56,086,880 0.5% Other Securities...................... 145,390,828 1.3% -------------- ----- TOTAL NETHERLANDS......................... 251,926,909 2.2% -------------- ----- NEW ZEALAND -- (0.3%) Other Securities...................... 44,837,058 0.4% -------------- ----- NORWAY -- (0.8%) Other Securities...................... 108,746,243 0.9% -------------- ----- PORTUGAL -- (0.7%) #* Banco Comercial Portugues SA.......... 516,415,630 58,368,713 0.5% Other Securities...................... 25,444,499 0.2% -------------- ----- TOTAL PORTUGAL............................ 83,813,212 0.7% -------------- ----- RUSSIA -- (0.0%) Other Securities...................... 547,872 0.0% -------------- ----- SINGAPORE -- (1.4%) Other Securities...................... 177,759,393 1.5% -------------- ----- SPAIN -- (2.5%) Bankinter SA.......................... 8,991,387 74,381,317 0.7% * Gamesa Corp. Tecnologica SA........... 6,939,007 68,509,030 0.6% Other Securities...................... 169,291,735 1.4% -------------- ----- TOTAL SPAIN............................... 312,182,082 2.7% -------------- ----- SWEDEN -- (3.3%) BillerudKorsnas AB.................... 3,504,601 51,117,323 0.4% Holmen AB Class B..................... 1,382,044 45,742,308 0.4% Trelleborg AB Class B................. 5,269,972 90,223,713 0.8% Other Securities...................... 232,132,103 2.0% -------------- ----- TOTAL SWEDEN.............................. 419,215,447 3.6% -------------- ----- 87 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- SWITZERLAND -- (3.8%) Helvetia Holding AG.................. 159,664 $ 75,922,724 0.7% Swiss Life Holding AG................ 175,357 40,234,036 0.4% Other Securities..................... 370,257,438 3.1% --------------- ----- TOTAL SWITZERLAND........................ 486,414,198 4.2% --------------- ----- UNITED KINGDOM -- (21.2%) Amlin P.L.C.......................... 11,064,118 80,751,776 0.7% Ashtead Group P.L.C.................. 7,730,038 129,510,847 1.1% Barratt Developments P.L.C........... 21,380,562 143,728,193 1.2% Beazley P.L.C........................ 12,470,827 52,380,139 0.5% Bellway P.L.C........................ 3,448,205 96,725,996 0.8% Bodycote P.L.C....................... 5,021,077 50,254,417 0.4% Bovis Homes Group P.L.C.............. 3,801,855 51,345,061 0.4% Catlin Group, Ltd.................... 9,089,700 78,087,662 0.7% Close Brothers Group P.L.C........... 1,724,250 40,463,125 0.4% CSR P.L.C............................ 4,886,688 65,673,331 0.6% Dixons Carphone P.L.C................ 11,398,297 72,376,637 0.6% DS Smith P.L.C....................... 15,172,280 64,440,510 0.6% # Greene King P.L.C.................... 4,957,978 63,741,992 0.6% Hiscox, Ltd.......................... 8,547,223 93,222,509 0.8% Home Retail Group P.L.C.............. 16,459,487 48,301,027 0.4% Inchcape P.L.C....................... 8,858,210 98,683,203 0.9% Millennium & Copthorne Hotels P.L.C.. 4,813,561 43,911,265 0.4% Mondi P.L.C.......................... 3,867,542 65,363,271 0.6% Persimmon P.L.C...................... 7,668,009 180,084,568 1.5% Taylor Wimpey P.L.C.................. 74,080,800 140,721,013 1.2% * Thomas Cook Group P.L.C.............. 24,698,963 49,209,419 0.4% Travis Perkins P.L.C................. 4,401,386 116,620,284 1.0% Vesuvius P.L.C....................... 5,951,466 40,633,041 0.4% Other Securities..................... 825,369,548 6.8% --------------- ----- TOTAL UNITED KINGDOM..................... 2,691,598,834 23.0% --------------- ----- TOTAL COMMON STOCKS...................... 11,619,300,062 99.5% --------------- ----- RIGHTS/WARRANTS -- (0.0%) AUSTRALIA -- (0.0%) Other Securities..................... 1,706 0.0% --------------- ----- AUSTRIA -- (0.0%) Other Securities..................... -- 0.0% --------------- ----- FRANCE -- (0.0%) Other Securities..................... 1,469,043 0.0% --------------- ----- HONG KONG -- (0.0%) Other Securities..................... 22,154 0.0% --------------- ----- ISRAEL -- (0.0%) Other Securities..................... 10,062 0.0% --------------- ----- ITALY -- (0.0%) Other Securities..................... 95,467 0.0% --------------- ----- SPAIN -- (0.0%) Other Securities..................... 2,218 0.0% --------------- ----- 88 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- UNITED KINGDOM -- (0.0%) Other Securities................ $ 1,154 0.0% --------------- ------ TOTAL RIGHTS/WARRANTS.................. 1,601,804 0.0% --------------- ------ Value+ - ------ - SECURITIES LENDING COLLATERAL -- (8.4%) (S)@ DFA Short Term Investment Fund.. 91,962,199 1,064,002,644 9.1% --------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $11,124,184,844)............. $12,684,904,510 108.6% =============== ====== Summary of the Portfolio's investments as of October 31, 2014, 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................... $ 10,888,717 $ 626,015,665 -- $ 636,904,382 Austria..................... -- 83,565,476 -- 83,565,476 Belgium..................... -- 103,554,907 -- 103,554,907 Canada...................... 1,004,947,054 384,353 -- 1,005,331,407 China....................... -- 2,698,400 -- 2,698,400 Denmark..................... -- 208,090,877 -- 208,090,877 Finland..................... -- 263,243,994 -- 263,243,994 France...................... 1,125,211 432,023,918 -- 433,149,129 Germany..................... 1,649,140 577,833,879 -- 579,483,019 Greece...................... -- 25,337 -- 25,337 Hong Kong................... 16,897 300,011,798 -- 300,028,695 Ireland..................... -- 49,991,081 -- 49,991,081 Israel...................... -- 83,951,496 -- 83,951,496 Italy....................... -- 456,124,466 -- 456,124,466 Japan....................... 15,666,766 2,820,449,382 -- 2,836,116,148 Netherlands................. -- 251,926,909 -- 251,926,909 New Zealand................. 1,190,287 43,646,771 -- 44,837,058 Norway...................... -- 108,746,243 -- 108,746,243 Portugal.................... -- 83,813,212 -- 83,813,212 Russia...................... -- 547,872 -- 547,872 Singapore................... 963,844 176,795,549 -- 177,759,393 Spain....................... 27,916 312,154,166 -- 312,182,082 Sweden...................... -- 419,215,447 -- 419,215,447 Switzerland................. -- 486,414,198 -- 486,414,198 United Kingdom.............. 1,148,986 2,690,449,848 -- 2,691,598,834 Rights/Warrants Australia................... -- 1,706 -- 1,706 Austria..................... -- -- -- -- France...................... -- 1,469,043 -- 1,469,043 Hong Kong................... -- 22,154 -- 22,154 Israel...................... -- 10,062 -- 10,062 Italy....................... -- 95,467 -- 95,467 Spain....................... -- 2,218 -- 2,218 United Kingdom.............. -- 1,154 -- 1,154 Securities Lending Collateral. -- 1,064,002,644 -- 1,064,002,644 -------------- --------------- -- --------------- TOTAL......................... $1,037,624,818 $11,647,279,692 -- $12,684,904,510 ============== =============== == =============== See accompanying Notes to Financial Statements. 89 INTERNATIONAL VECTOR EQUITY PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (90.0%) AUSTRALIA -- (6.4%) # Australia & New Zealand Banking Group, Ltd.. 122,194 $ 3,615,790 0.3% # BHP Billiton, Ltd........................... 109,768 3,283,910 0.3% National Australia Bank, Ltd................ 90,701 2,805,904 0.2% Origin Energy, Ltd.......................... 180,805 2,271,403 0.2% Other Securities............................ 79,986,697 6.0% ------------ ---- TOTAL AUSTRALIA................................. 91,963,704 7.0% ------------ ---- AUSTRIA -- (0.5%) Other Securities............................ 6,584,288 0.5% ------------ ---- BELGIUM -- (1.4%) Delhaize Group SA........................... 33,045 2,259,447 0.2% Other Securities............................ 18,234,813 1.4% ------------ ---- TOTAL BELGIUM................................... 20,494,260 1.6% ------------ ---- CANADA -- (8.5%) Suncor Energy, Inc.......................... 82,938 2,947,616 0.2% Other Securities............................ 119,497,072 9.2% ------------ ---- TOTAL CANADA.................................... 122,444,688 9.4% ------------ ---- CHINA -- (0.0%) Other Securities............................ 74,706 0.0% ------------ ---- DENMARK -- (1.4%) Other Securities............................ 20,644,331 1.6% ------------ ---- FINLAND -- (1.9%) Fortum Oyj.................................. 107,420 2,491,261 0.2% Nokia Oyj................................... 340,765 2,847,396 0.2% UPM-Kymmene Oyj............................. 170,168 2,699,292 0.2% Other Securities............................ 19,384,098 1.5% ------------ ---- TOTAL FINLAND................................... 27,422,047 2.1% ------------ ---- FRANCE -- (6.0%) BNP Paribas SA.............................. 44,274 2,782,269 0.2% Cie de St-Gobain............................ 72,210 3,103,936 0.3% GDF Suez.................................... 142,877 3,469,042 0.3% Orange SA................................... 177,688 2,828,859 0.2% Renault SA.................................. 30,047 2,235,084 0.2% Total SA.................................... 79,639 4,754,708 0.4% Other Securities............................ 67,065,060 5.0% ------------ ---- TOTAL FRANCE.................................... 86,238,958 6.6% ------------ ---- GERMANY -- (5.2%) Allianz SE.................................. 20,504 3,260,590 0.3% Bayerische Motoren Werke AG................. 31,783 3,408,336 0.3% Daimler AG.................................. 35,601 2,775,774 0.2% RWE AG...................................... 85,573 3,036,281 0.2% Other Securities............................ 62,738,998 4.7% ------------ ---- TOTAL GERMANY................................... 75,219,979 5.7% ------------ ---- 90 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- GREECE -- (0.0%) Other Securities................................... $ -- 0.0% ------------ ----- HONG KONG -- (2.8%) Other Securities................................... 40,258,385 3.1% ------------ ----- IRELAND -- (0.5%) Other Securities................................... 6,871,293 0.5% ------------ ----- ISRAEL -- (0.7%) Teva Pharmaceutical Industries, Ltd. Sponsored ADR. 55,754 3,148,428 0.3% Other Securities................................... 6,909,385 0.5% ------------ ----- TOTAL ISRAEL........................................... 10,057,813 0.8% ------------ ----- ITALY -- (2.4%) Unione di Banche Italiane SCPA..................... 339,391 2,665,405 0.2% Other Securities................................... 32,149,174 2.5% ------------ ----- TOTAL ITALY............................................ 34,814,579 2.7% ------------ ----- JAPAN -- (19.7%) Mitsubishi UFJ Financial Group, Inc................ 740,600 4,317,115 0.4% Mizuho Financial Group, Inc........................ 1,369,660 2,495,953 0.2% Sumitomo Mitsui Financial Group, Inc............... 73,541 2,999,216 0.3% Toyota Motor Corp. Sponsored ADR................... 20,242 2,456,367 0.2% Other Securities................................... 271,843,890 20.6% ------------ ----- TOTAL JAPAN............................................ 284,112,541 21.7% ------------ ----- NETHERLANDS -- (2.2%) Aegon NV........................................... 267,671 2,181,639 0.2% Other Securities................................... 29,787,913 2.2% ------------ ----- TOTAL NETHERLANDS...................................... 31,969,552 2.4% ------------ ----- NEW ZEALAND -- (0.4%) Other Securities................................... 6,098,591 0.5% ------------ ----- NORWAY -- (0.9%) Other Securities................................... 12,606,921 1.0% ------------ ----- PORTUGAL -- (0.3%) Other Securities................................... 4,739,339 0.4% ------------ ----- RUSSIA -- (0.0%) Other Securities................................... 41,460 0.0% ------------ ----- SINGAPORE -- (1.3%) Other Securities................................... 17,906,031 1.4% ------------ ----- SPAIN -- (2.3%) Banco Santander SA................................. 514,893 4,549,349 0.4% Iberdrola SA....................................... 400,479 2,834,957 0.2% Other Securities................................... 26,109,666 2.0% ------------ ----- TOTAL SPAIN............................................ 33,493,972 2.6% ------------ ----- SWEDEN -- (2.8%) Other Securities................................... 39,595,979 3.0% ------------ ----- 91 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- SWITZERLAND -- (5.9%) Aryzta AG............................... 25,690 $ 2,191,397 0.2% Clariant AG............................. 127,828 2,229,708 0.2% Credit Suisse Group AG.................. 94,484 2,517,412 0.2% Julius Baer Group, Ltd.................. 56,140 2,461,050 0.2% Lonza Group AG.......................... 19,866 2,188,965 0.2% Nestle SA............................... 92,984 6,818,898 0.5% Novartis AG............................. 53,863 4,998,640 0.4% Swiss Re AG............................. 49,846 4,030,588 0.3% Zurich Insurance Group AG............... 15,572 4,712,530 0.4% Other Securities........................ 52,893,358 3.9% -------------- ----- TOTAL SWITZERLAND........................... 85,042,546 6.5% -------------- ----- UNITED KINGDOM -- (16.5%) Anglo American P.L.C.................... 214,596 4,530,883 0.4% Barratt Developments P.L.C.............. 440,009 2,957,906 0.2% BG Group P.L.C.......................... 132,145 2,202,333 0.2% BP P.L.C................................ 311,879 2,243,939 0.2% BP P.L.C. Sponsored ADR................. 139,975 6,083,313 0.5% Friends Life Group, Ltd................. 461,924 2,395,548 0.2% # HSBC Holdings P.L.C. Sponsored ADR...... 186,519 9,516,199 0.7% * Lloyds Banking Group P.L.C.............. 2,860,531 3,532,438 0.3% Old Mutual P.L.C........................ 807,532 2,507,852 0.2% Royal Dutch Shell P.L.C. ADR(780259206). 80,746 5,796,755 0.4% # Royal Dutch Shell P.L.C. ADR(780259107). 80,780 6,031,843 0.5% * RSA Insurance Group P.L.C............... 287,221 2,222,416 0.2% Vodafone Group P.L.C. Sponsored ADR..... 100,243 3,330,079 0.3% Other Securities........................ 185,172,377 14.0% -------------- ----- TOTAL UNITED KINGDOM........................ 238,523,881 18.3% -------------- ----- UNITED STATES -- (0.0%) Other Securities........................ 257,208 0.0% -------------- ----- TOTAL COMMON STOCKS......................... 1,297,477,052 99.4% -------------- ----- PREFERRED STOCKS -- (0.0%) GERMANY -- (0.0%) Other Securities........................ 165,949 0.0% -------------- ----- UNITED KINGDOM -- (0.0%) Other Securities........................ 10,532 0.0% -------------- ----- TOTAL PREFERRED STOCKS...................... 176,481 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........................ 111,443 0.0% -------------- ----- GERMANY -- (0.0%) Other Securities........................ 27,664 0.0% -------------- ----- 92 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- HONG KONG -- (0.0%) Other Securities................ $ 106 0.0% -------------- ------ ITALY -- (0.0%) Other Securities................ 23,841 0.0% -------------- ------ PORTUGAL -- (0.0%) Other Securities................ -- 0.0% -------------- ------ SPAIN -- (0.0%) Other Securities................ 107,522 0.0% -------------- ------ UNITED KINGDOM -- (0.0%) Other Securities................ 62,254 0.0% -------------- ------ TOTAL RIGHTS/WARRANTS................... 332,830 0.0% -------------- ------ Value+ - ------ - SECURITIES LENDING COLLATERAL -- (10.0%) (S)@ DFA Short Term Investment Fund.. 12,484,902 144,450,312 11.1% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $1,286,589,117)............... $1,442,436,675 110.5% ============== ====== 93 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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................... $ 2,066,649 $ 89,897,055 -- $ 91,963,704 Austria..................... -- 6,584,288 -- 6,584,288 Belgium..................... 934,668 19,559,592 -- 20,494,260 Canada...................... 122,439,760 4,928 -- 122,444,688 China....................... -- 74,706 -- 74,706 Denmark..................... -- 20,644,331 -- 20,644,331 Finland..................... -- 27,422,047 -- 27,422,047 France...................... 1,635,850 84,603,108 -- 86,238,958 Germany..................... 3,636,537 71,583,442 -- 75,219,979 Greece...................... -- -- -- -- Hong Kong................... 377,181 39,881,204 -- 40,258,385 Ireland..................... 1,510,705 5,360,588 -- 6,871,293 Israel...................... 3,514,247 6,543,566 -- 10,057,813 Italy....................... 932,201 33,882,378 -- 34,814,579 Japan....................... 5,424,818 278,687,723 -- 284,112,541 Netherlands................. 4,863,241 27,106,311 -- 31,969,552 New Zealand................. 3,791 6,094,800 -- 6,098,591 Norway...................... 782,276 11,824,645 -- 12,606,921 Portugal.................... -- 4,739,339 -- 4,739,339 Russia...................... -- 41,460 -- 41,460 Singapore................... -- 17,906,031 -- 17,906,031 Spain....................... 1,223,825 32,270,147 -- 33,493,972 Sweden...................... -- 39,595,979 -- 39,595,979 Switzerland................. 4,863,620 80,178,926 -- 85,042,546 United Kingdom.............. 41,468,468 197,055,413 -- 238,523,881 United States............... 221,853 35,355 -- 257,208 Preferred Stocks Germany..................... -- 165,949 -- 165,949 United Kingdom.............. -- 10,532 -- 10,532 Rights/Warrants Australia................... -- -- -- -- Austria..................... -- -- -- -- France...................... -- 111,443 -- 111,443 Germany..................... -- 27,664 -- 27,664 Hong Kong................... -- 106 -- 106 Italy....................... -- 23,841 -- 23,841 Portugal.................... -- -- -- -- Spain....................... -- 107,522 -- 107,522 United Kingdom.............. 60,121 2,133 -- 62,254 Securities Lending Collateral. -- 144,450,312 -- 144,450,312 ------------ -------------- -- -------------- TOTAL......................... $195,959,811 $1,246,476,864 -- $1,442,436,675 ============ ============== == ============== See accompanying Notes to Financial Statements. 94 WORLD EX U.S. VALUE PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Shares Value+ ------- ------------ AFFILIATED INVESTMENT COMPANIES -- (100.0%) Investment in The DFA International Value Series of The DFA Investment Trust Company........................... $ 77,633,954 Investment in Dimensional Emerging Markets Value Fund........ 26,567,397 Investment in DFA International Small Cap Value Portfolio of DFA Investment Dimensions Group Inc........................ 490,444 9,588,177 ------------ TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANIES (Cost $104,616,352)..................................... 113,789,528 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $104,616,352)..................................... $113,789,528 ============ Summary of the Portfolio's investments as of October 31, 2014, 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. $113,789,528 -- -- $113,789,528 ------------ -- -- ------------ TOTAL........................... $113,789,528 -- -- $113,789,528 ============ == == ============ See accompanying Notes to Financial Statements. 95 WORLD EX U.S. TARGETED VALUE PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Shares Value+ --------- ------------ AFFILIATED INVESTMENT COMPANIES -- (100.0%) Investment in DFA International Small Cap Value Portfolio of DFA Investment Dimensions Group Inc........................ 4,787,335 $ 93,592,398 Investment in Dimensional Emerging Markets Value Fund........ 34,756,718 Investment in International Vector Equity Portfolio of DFA Investment Dimensions Group Inc........................ 1,205,268 13,571,316 Investment in The Emerging Markets Small Cap Series of The DFA Investment Trust Company........................... 9,043,760 ------------ TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANIES (Cost $144,053,325)..................................... 150,964,192 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $144,053,325)..................................... $150,964,192 ============ Summary of the Portfolio's investments as of October 31, 2014, 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. $150,964,192 -- -- $150,964,192 ------------ -- -- ------------ TOTAL........................... $150,964,192 -- -- $150,964,192 ============ == == ============ See accompanying Notes to Financial Statements. 96 WORLD EX U.S. CORE EQUITY PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Shares Value+ ---------- ------------ AFFILIATED INVESTMENT COMPANIES -- (100.0%) Investment in International Core Equity Portfolio of DFA Investment Dimensions Group Inc.................... 25,721,741 $312,519,151 Investment in Emerging Markets Core Equity Portfolio of DFA Investment Dimensions Group Inc.................... 4,644,337 93,258,277 ------------ TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANIES (Cost $407,876,986)................................. 405,777,428 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $407,876,986)................................. $405,777,428 ============ Summary of the Portfolio's investments as of October 31, 2014, 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. $405,777,428 -- -- $405,777,428 ------------ -- -- ------------ TOTAL........................... $405,777,428 -- -- $405,777,428 ============ == == ============ See accompanying Notes to Financial Statements. 97 WORLD CORE EQUITY PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Shares Value+ --------- ----------- AFFILIATED INVESTMENT COMPANIES -- (100.0%) Investment in U.S. Core Equity 1 Portfolio of DFA Investment Dimensions Group Inc.................... 2,165,013 $38,342,379 Investment in International Core Equity Portfolio of DFA Investment Dimensions Group Inc.................... 2,403,932 29,207,774 Investment in Emerging Markets Core Equity Portfolio of DFA Investment Dimensions Group Inc.................... 403,210 8,096,465 ----------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANIES (Cost $78,254,054).................................. 75,646,618 ----------- TEMPORARY CASH INVESTMENTS -- (0.0%) State Street Institutional Liquid Reserves, 0.077% (Cost $35,161)......................................... 35,161 35,161 ----------- TOTAL INVESTMENTS -- (100.0%) (Cost $78,289,215).................................. $75,681,779 =========== Summary of the Fund's investments as of October 31, 2014, 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. $75,646,618 -- -- $75,646,618 Temporary Cash Investments...... 35,161 -- -- 35,161 ----------- -- -- ----------- TOTAL........................... $75,681,779 -- -- $75,681,779 =========== == == =========== See accompanying Notes to Financial Statements. 98 SELECTIVELY HEDGED GLOBAL EQUITY PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Shares Value+ --------- ------------ AFFILIATED INVESTMENT COMPANIES -- (100.0%) Investment in U.S. Core Equity 2 Portfolio of DFA Investment Dimensions Group Inc.................... 3,703,600 $ 64,220,425 Investment in International Core Equity Portfolio of DFA Investment Dimensions Group Inc.................... 4,374,226 53,146,850 Investment in Emerging Markets Core Equity Portfolio of DFA Investment Dimensions Group Inc.................... 1,190,179 23,898,796 ------------ TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANIES (Cost $124,892,002)................................. 141,266,071 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $124,892,002)................................. $141,266,071 ============ Summary of the Portfolio's investments as of October 31, 2014, 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. $141,266,071 -- -- $141,266,071 Futures Contracts**............. 51,312 -- -- 51,312 Forward Currency Contracts**.... -- $638,471 -- 638,471 ------------ -------- -- ------------ TOTAL........................... $141,317,383 $638,471 -- $141,955,854 ============ ======== == ============ **Not reflected in the Schedule of Investments, valued at the unrealized appreciation/(depreciation) on the investment. (Note H) See accompanying Notes to Financial Statements. 99 SCHEDULES OF INVESTMENTS October 31, 2014 EMERGING MARKETS PORTFOLIO Value+ -------------- AFFILIATED INVESTMENT COMPANY -- (100.0%) Investment in The Emerging Markets Series of The DFA Investment Trust Company..................... $4,080,491,363 -------------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANY (Cost $2,936,204,861)............................. $4,080,491,363 ============== Summary of the Portfolio's Master Fund's investments as of October 31, 2014, 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..................... $4,861,063,765 -------------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANY (Cost $4,385,025,944)............................. $4,861,063,765 ============== Summary of the Portfolio's Master Fund's investments as of October 31, 2014, 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.. $18,743,741,686 --------------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANY (Cost $18,506,989,599)............................ $18,743,741,686 =============== Summary of the Portfolio's Master Fund's investments as of October 31, 2014, based on their valuation inputs, is located within this report (See Security Valuation Note). See accompanying Notes to Financial Statements. 100 EMERGING MARKETS CORE EQUITY PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (87.8%) BRAZIL -- (6.2%) AMBEV SA ADR........................................ 9,300,659 $ 62,128,402 0.4% Banco do Brasil SA.................................. 3,629,612 40,618,726 0.3% BM&FBovespa SA...................................... 9,686,489 42,623,863 0.3% Petroleo Brasileiro SA ADR.......................... 3,836,209 44,883,645 0.3% Other Securities.................................... 875,869,697 5.5% -------------- ----- TOTAL BRAZIL............................................ 1,066,124,333 6.8% -------------- ----- CHILE -- (1.3%) Other Securities.................................... 224,236,416 1.4% -------------- ----- CHINA -- (14.1%) Bank of China, Ltd. Class H......................... 157,471,702 75,373,982 0.5% China Construction Bank Corp. Class H............... 195,696,302 146,008,799 0.9% China Mobile, Ltd................................... 3,987,000 49,711,104 0.3% # China Mobile, Ltd. Sponsored ADR.................... 1,861,391 115,573,767 0.7% CNOOC, Ltd.......................................... 31,447,000 49,161,651 0.3% # CNOOC, Ltd. ADR..................................... 239,300 37,419,341 0.3% Industrial & Commercial Bank of China, Ltd. Class H. 200,441,725 132,825,859 0.9% Tencent Holdings, Ltd............................... 9,231,600 148,372,706 1.0% Other Securities.................................... 1,659,270,901 10.5% -------------- ----- TOTAL CHINA............................................. 2,413,718,110 15.4% -------------- ----- COLOMBIA -- (0.5%) Other Securities.................................... 77,013,599 0.5% -------------- ----- CZECH REPUBLIC -- (0.2%) Other Securities.................................... 38,214,099 0.2% -------------- ----- EGYPT -- (0.1%) Other Securities.................................... 11,209,468 0.1% -------------- ----- GREECE -- (0.4%) Other Securities.................................... 75,174,054 0.5% -------------- ----- HONG KONG -- (0.0%) Other Securities.................................... 180,757 0.0% -------------- ----- HUNGARY -- (0.2%) Other Securities.................................... 33,286,857 0.2% -------------- ----- INDIA -- (8.7%) HDFC Bank, Ltd...................................... 2,994,559 44,629,222 0.3% # Infosys, Ltd. Sponsored ADR......................... 875,587 58,541,747 0.4% Reliance Industries, Ltd............................ 3,980,031 64,496,597 0.4% Tata Consultancy Services, Ltd...................... 972,691 41,495,249 0.3% Other Securities.................................... 1,288,652,946 8.1% -------------- ----- TOTAL INDIA............................................. 1,497,815,761 9.5% -------------- ----- INDONESIA -- (2.8%) Astra International Tbk PT.......................... 72,654,500 40,738,177 0.3% Other Securities.................................... 438,370,964 2.7% -------------- ----- TOTAL INDONESIA......................................... 479,109,141 3.0% -------------- ----- 101 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- MALAYSIA -- (4.3%) Malayan Banking Bhd....................... 16,366,740 $ 48,283,910 0.3% Other Securities.......................... 681,135,791 4.3% -------------- ----- TOTAL MALAYSIA................................ 729,419,701 4.6% -------------- ----- MEXICO -- (5.0%) Alfa S.A.B. de C.V. Class A............... 12,848,389 41,017,525 0.3% # America Movil S.A.B. de C.V. Series L ADR. 3,035,166 74,088,401 0.5% #* Cemex S.A.B. de C.V. Sponsored ADR........ 6,484,813 79,763,198 0.5% Fomento Economico Mexicano S.A.B. de C.V. Sponsored ADR............................ 599,632 57,708,584 0.4% Grupo Financiero Banorte S.A.B. de C.V.... 8,504,555 54,502,411 0.3% # Grupo Mexico S.A.B. de C.V. Series B...... 16,098,780 55,411,005 0.4% Grupo Televisa S.A.B. Sponsored ADR....... 1,810,392 65,427,567 0.4% Other Securities.......................... 437,898,901 2.7% -------------- ----- TOTAL MEXICO.................................. 865,817,592 5.5% -------------- ----- PERU -- (0.1%) Other Securities.......................... 23,298,299 0.2% -------------- ----- PHILIPPINES -- (1.3%) Other Securities.......................... 228,026,975 1.5% -------------- ----- POLAND -- (1.8%) Other Securities.......................... 307,892,448 2.0% -------------- ----- RUSSIA -- (1.7%) Gazprom OAO Sponsored ADR................. 11,798,088 78,171,913 0.5% Other Securities.......................... 206,406,811 1.3% -------------- ----- TOTAL RUSSIA.................................. 284,578,724 1.8% -------------- ----- SOUTH AFRICA -- (7.3%) Bidvest Group, Ltd. (The)................. 1,505,451 41,432,531 0.3% FirstRand, Ltd............................ 10,566,034 45,257,744 0.3% MTN Group, Ltd............................ 4,967,624 109,998,339 0.7% Naspers, Ltd. Class N..................... 654,201 81,597,924 0.5% Sanlam, Ltd............................... 8,139,212 51,432,006 0.3% Sasol, Ltd................................ 994,736 49,672,340 0.3% Sasol, Ltd. Sponsored ADR................. 983,103 49,341,940 0.3% # Standard Bank Group, Ltd.................. 4,181,964 52,662,521 0.3% # Steinhoff International Holdings, Ltd..... 9,553,168 48,874,104 0.3% Other Securities.......................... 720,543,679 4.7% -------------- ----- TOTAL SOUTH AFRICA............................ 1,250,813,128 8.0% -------------- ----- SOUTH KOREA -- (13.4%) Hana Financial Group, Inc................. 1,140,149 39,483,163 0.3% Hyundai Motor Co.......................... 364,834 57,892,430 0.4% # Naver Corp................................ 60,144 42,559,210 0.3% POSCO ADR................................. 511,345 36,591,848 0.3% Samsung Electronics Co., Ltd.............. 348,260 406,120,741 2.6% #* SK Hynix, Inc............................. 1,223,154 54,545,683 0.4% Other Securities.......................... 1,667,152,633 10.4% -------------- ----- TOTAL SOUTH KOREA............................. 2,304,345,708 14.7% -------------- ----- SPAIN -- (0.0%) Other Securities.......................... 710,343 0.0% -------------- ----- 102 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- TAIWAN -- (13.3%) Hon Hai Precision Industry Co., Ltd.................... 44,256,377 $ 140,071,295 0.9% # Taiwan Semiconductor Manufacturing Co., Ltd............ 40,714,652 176,492,743 1.1% Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR................................................... 3,587,659 79,000,251 0.5% Other Securities....................................... 1,888,459,319 12.0% --------------- ----- TOTAL TAIWAN............................................... 2,284,023,608 14.5% --------------- ----- THAILAND -- (3.1%) PTT PCL................................................ 3,548,380 40,092,227 0.3% Other Securities....................................... 485,581,506 3.0% --------------- ----- TOTAL THAILAND............................................. 525,673,733 3.3% --------------- ----- TURKEY -- (2.0%) Other Securities....................................... 350,405,567 2.2% --------------- ----- TOTAL COMMON STOCKS........................................ 15,071,088,421 95.9% --------------- ----- PREFERRED STOCKS -- (3.1%) BRAZIL -- (3.0%) Banco Bradesco SA...................................... 2,851,473 42,951,675 0.3% # Banco Bradesco SA ADR.................................. 5,097,969 76,367,571 0.5% Itau Unibanco Holding SA............................... 3,529,263 52,373,393 0.4% Itau Unibanco Holding SA ADR........................... 6,110,461 90,190,404 0.6% Petroleo Brasileiro SA Sponsored ADR................... 5,128,535 62,721,983 0.4% Other Securities....................................... 193,832,482 1.1% --------------- ----- TOTAL BRAZIL............................................... 518,437,508 3.3% --------------- ----- CHILE -- (0.0%) Other Securities....................................... 1,292,018 0.0% --------------- ----- COLOMBIA -- (0.1%) Other Securities....................................... 17,751,681 0.1% --------------- ----- TOTAL PREFERRED STOCKS..................................... 537,481,207 3.4% --------------- ----- RIGHTS/WARRANTS -- (0.0%) BRAZIL -- (0.0%) Other Securities....................................... 1,578 0.0% --------------- ----- HONG KONG -- (0.0%) Other Securities....................................... 589,439 0.0% --------------- ----- INDONESIA -- (0.0%) Other Securities....................................... 4,004 0.0% --------------- ----- MALAYSIA -- (0.0%) Other Securities....................................... -- 0.0% --------------- ----- POLAND -- (0.0%) Other Securities....................................... 4,672 0.0% --------------- ----- SOUTH KOREA -- (0.0%) Other Securities....................................... 12,479 0.0% --------------- ----- TAIWAN -- (0.0%) Other Securities....................................... 1,231 0.0% --------------- ----- 103 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- THAILAND -- (0.0%) Other Securities............... $ 141,300 0.0% --------------- ------ TOTAL RIGHTS/WARRANTS.................. 754,703 0.0% --------------- ------ Value+ - ------ - SECURITIES LENDING COLLATERAL -- (9.1%) (S)@ DFA Short Term Investment Fund. 134,800,951 1,559,646,998 9.9% --------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $15,821,830,424)............. $17,168,971,329 109.2% =============== ====== Summary of the Portfolio's investments as of October 31, 2014, 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...................... $ 336,497,923 $ 729,626,410 -- $ 1,066,124,333 Chile....................... 63,360,193 160,876,223 -- 224,236,416 China....................... 256,973,549 2,156,744,561 -- 2,413,718,110 Colombia.................... 77,013,599 -- -- 77,013,599 Czech Republic.............. -- 38,214,099 -- 38,214,099 Egypt....................... -- 11,209,468 -- 11,209,468 Greece...................... 1,939,009 73,235,045 -- 75,174,054 Hong Kong................... -- 180,757 -- 180,757 Hungary..................... 245,839 33,041,018 -- 33,286,857 India....................... 154,248,766 1,343,566,995 -- 1,497,815,761 Indonesia................... 18,275,402 460,833,739 -- 479,109,141 Malaysia.................... 2,543 729,417,158 -- 729,419,701 Mexico...................... 865,718,529 99,063 -- 865,817,592 Peru........................ 23,298,299 -- -- 23,298,299 Philippines................. 5,515,795 222,511,180 -- 228,026,975 Poland...................... -- 307,892,448 -- 307,892,448 Russia...................... 8,164,696 276,414,028 -- 284,578,724 South Africa................ 94,442,565 1,156,370,563 -- 1,250,813,128 South Korea................. 112,829,958 2,191,515,750 -- 2,304,345,708 Spain....................... 710,343 -- -- 710,343 Taiwan...................... 107,784,054 2,176,239,554 -- 2,284,023,608 Thailand.................... 525,673,733 -- -- 525,673,733 Turkey...................... 5,503,487 344,902,080 -- 350,405,567 Preferred Stocks Brazil...................... 264,637,009 253,800,499 -- 518,437,508 Chile....................... -- 1,292,018 -- 1,292,018 Colombia.................... 17,751,681 -- -- 17,751,681 Rights/Warrants Brazil...................... -- 1,578 -- 1,578 Hong Kong................... -- 589,439 -- 589,439 Indonesia................... -- 4,004 -- 4,004 Malaysia.................... -- -- -- -- Poland...................... -- 4,672 -- 4,672 South Korea................. -- 12,479 -- 12,479 Taiwan...................... -- 1,231 -- 1,231 Thailand.................... -- 141,300 -- 141,300 Securities Lending Collateral. -- 1,559,646,998 -- 1,559,646,998 -------------- --------------- -- --------------- TOTAL......................... $2,940,586,972 $14,228,384,357 -- $17,168,971,329 ============== =============== == =============== See accompanying Notes to Financial Statements. 104 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2014 (Amounts in thousands, except share and per share amounts) Enhanced U.S. Large U.S. Large Cap Company Equity U.S. Large Cap Portfolio Portfolio* Value Portfolio ------------- -------------- --------------- ASSETS: Investments in Affiliated Investment Company at Value............... -- -- $ 15,138,176 Investments at Value (including $2,693, $9,261, $0 and $1,036,309 of securities on loan, respectively).................... $ 212,207 $ 262,248 -- Temporary Cash Investments at Value & Cost.......................... -- 1,462 -- Collateral from Securities on Loan Invested in Affiliate at Value & Cost............................................................... 2,758 9,300 -- Cash................................................................ 8,088 65 -- Receivables: Investment Securities/Affiliated Investment Company Sold.......... -- -- -- Dividends, Interest and Tax Reclaims.............................. 1,005 259 -- Securities Lending Income......................................... -- 4 -- Fund Shares Sold.................................................. 189 12,685 18,115 Futures Margin Variation.......................................... 2,343 -- -- Unrealized Gain on Forward Currency Contracts....................... 244 -- -- Prepaid Expenses and Other Assets................................... 12 11 100 ------------ ------------ -------------- Total Assets.................................................... 226,846 286,034 15,156,391 ------------ ------------ -------------- LIABILITIES: Payables: Upon Return of Securities Loaned.................................. 2,758 9,300 -- Investment Securities/Affiliated Investment Company Purchased........................................................ 7,159 1,505 -- Fund Shares Redeemed.............................................. 120 226 6,970 Due to Advisor.................................................... 35 26 1,832 Unrealized Loss on Forward Currency Contracts....................... 39 -- -- Accrued Expenses and Other Liabilities.............................. 16 22 608 ------------ ------------ -------------- Total Liabilities............................................... 10,127 11,079 9,410 ------------ ------------ -------------- NET ASSETS.......................................................... $ 216,719 $ 274,955 $ 15,146,981 ============ ============ ============== NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: Class R1 Shares -- based on net assets of $0; $0; $0 and $16,971 and shares outstanding of 0; 0; 0 and 731,895, 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 $82,977 and shares outstanding of 0; 0; 0 and 3,589,366, 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 $216,719; $274,955; $15,146,981 and $5,490,959 and shares outstanding of 15,874,939; 21,735,115; 448,845,985 and 237,045,635, respectively.......................................... $ 13.65 $ 12.65 $ 33.75 ============ ============ ============== NUMBER OF SHARES AUTHORIZED......................................... 300,000,000 100,000,000 2,000,000,000 ============ ============ ============== Investments in Affiliated Investment Company at Cost................ $ -- $ -- $ 9,823,414 ============ ============ ============== Investments at Cost................................................. $ 207,934 $ 226,852 $ -- ============ ============ ============== NET ASSETS CONSIST OF: Paid-In Capital..................................................... $ 184,906 $ 238,506 $ 9,713,491 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)............................................. 149 502 32,662 Accumulated Net Realized Gain (Loss)................................ 20,138 551 86,066 Net Unrealized Foreign Exchange Gain (Loss)......................... 191 -- -- Net Unrealized Appreciation (Depreciation).......................... 11,335 35,396 5,314,762 ------------ ------------ -------------- NET ASSETS.......................................................... $ 216,719 $ 274,955 $ 15,146,981 ============ ============ ============== U.S. Targeted Value Portfolio* ---------------- ASSETS: Investments in Affiliated Investment Company at Value............... -- Investments at Value (including $2,693, $9,261, $0 and $1,036,309 of securities on loan, respectively).................... $ 5,574,818 Temporary Cash Investments at Value & Cost.......................... 14,280 Collateral from Securities on Loan Invested in Affiliate at Value & Cost............................................................... 1,024,559 Cash................................................................ 15,714 Receivables: Investment Securities/Affiliated Investment Company Sold.......... 7,515 Dividends, Interest and Tax Reclaims.............................. 2,171 Securities Lending Income......................................... 373 Fund Shares Sold.................................................. 5,112 Futures Margin Variation.......................................... -- Unrealized Gain on Forward Currency Contracts....................... -- Prepaid Expenses and Other Assets................................... 46 ------------ Total Assets.................................................... 6,644,588 ------------ LIABILITIES: Payables: Upon Return of Securities Loaned.................................. 1,024,559 Investment Securities/Affiliated Investment Company Purchased........................................................ 17,070 Fund Shares Redeemed.............................................. 10,140 Due to Advisor.................................................... 1,558 Unrealized Loss on Forward Currency Contracts....................... -- Accrued Expenses and Other Liabilities.............................. 354 ------------ Total Liabilities............................................... 1,053,681 ------------ NET ASSETS.......................................................... $ 5,590,907 ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: Class R1 Shares -- based on net assets of $0; $0; $0 and $16,971 and shares outstanding of 0; 0; 0 and 731,895, respectively....................................................... $ 23.19 ============ NUMBER OF SHARES AUTHORIZED......................................... 100,000,000 ============ Class R2 Shares -- based on net assets of $0; $0; $0 and $82,977 and shares outstanding of 0; 0; 0 and 3,589,366, respectively....................................................... $ 23.12 ============ NUMBER OF SHARES AUTHORIZED......................................... 100,000,000 ============ Institutional Class Shares -- based on net assets of $216,719; $274,955; $15,146,981 and $5,490,959 and shares outstanding of 15,874,939; 21,735,115; 448,845,985 and 237,045,635, respectively.......................................... $ 23.16 ============ NUMBER OF SHARES AUTHORIZED......................................... 700,000,000 ============ Investments in Affiliated Investment Company at Cost................ $ -- ============ Investments at Cost................................................. $ 4,124,477 ============ NET ASSETS CONSIST OF: Paid-In Capital..................................................... $ 3,887,976 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)............................................. 6,119 Accumulated Net Realized Gain (Loss)................................ 246,471 Net Unrealized Foreign Exchange Gain (Loss)......................... -- Net Unrealized Appreciation (Depreciation).......................... 1,450,341 ------------ NET ASSETS.......................................................... $ 5,590,907 ============ ---------- * See Note J in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 105 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2014 (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 $2,011,364, $1,201,148, $1,605,031 and $534,724 of securities on loan, respectively).............................. $ 11,466,038 $ 10,746,561 $ 12,863,761 $ 3,483,746 Temporary Cash Investments at Value & Cost........... 60,522 68,558 94,206 24,721 Collateral from Securities on Loan Invested in Affiliate at Value & Cost........................... 2,005,967 1,182,906 1,568,923 520,451 Cash................................................. -- 3,201 5,546 3,396 Receivables: Investment Securities Sold......................... 17,503 806 751 410 Dividends, Interest and Tax Reclaims............... 3,553 9,614 10,701 2,253 Securities Lending Income.......................... 432 455 651 237 Fund Shares Sold................................... 6,427 9,293 8,801 2,879 Prepaid Expenses and Other Assets.................... 77 78 99 34 -------------- -------------- -------------- -------------- Total Assets.................................... 13,560,519 12,021,472 14,553,439 4,038,127 -------------- -------------- -------------- -------------- LIABILITIES: Payables: Due to Custodian................................... 32 -- -- -- Upon Return of Securities Loaned................... 2,005,967 1,182,906 1,568,923 520,451 Investment Securities Purchased.................... 27,902 49,810 57,486 13,935 Fund Shares Redeemed............................... 9,062 5,936 5,177 1,410 Due to Advisor..................................... 4,574 1,463 2,068 841 Accrued Expenses and Other Liabilities............... 676 527 609 171 -------------- -------------- -------------- -------------- Total Liabilities............................... 2,048,213 1,240,642 1,634,263 536,808 -------------- -------------- -------------- -------------- NET ASSETS........................................... $ 11,512,306 $ 10,780,830 $ 12,919,176 $ 3,501,319 ============== ============== ============== ============== NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: Institutional Class Shares -- based on net assets of $11,512,306; $10,780,830; $12,919,176 and $3,501,319 and shares outstanding of 321,354,700; 608,690,638; 744,868,065 and 205,523,101, respectively........................... $ 35.82 $ 17.71 $ 17.34 $ 17.04 ============== ============== ============== ============== NUMBER OF SHARES AUTHORIZED.......................... 1,700,000,000 1,500,000,000 2,300,000,000 1,000,000,000 ============== ============== ============== ============== Investments at Cost.................................. $ 8,188,385 $ 7,413,339 $ 8,506,724 $ 2,358,710 ============== ============== ============== ============== NET ASSETS CONSIST OF: Paid-In Capital...................................... $ 7,812,217 $ 7,378,936 $ 8,453,183 $ 2,263,224 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)................. 3,960 19,703 22,013 4,499 Accumulated Net Realized Gain (Loss)................. 418,476 48,969 86,943 108,560 Net Unrealized Appreciation (Depreciation)........... 3,277,653 3,333,222 4,357,037 1,125,036 -------------- -------------- -------------- -------------- NET ASSETS........................................... $ 11,512,306 $ 10,780,830 $ 12,919,176 $ 3,501,319 ============== ============== ============== ============== ---------- * See Note J in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 106 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2014 (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 $2,183,092, $991,236, $733,454 and $187,140 of securities on loan, respectively).............................................. $ 9,208,558 $ 5,010,048 $ 6,584,030 $ 3,113,250 Temporary Cash Investments at Value & Cost.................. 60,668 16,820 27,425 -- Collateral from Securities on Loan Invested in Affiliate at Value & Cost............................................... 2,198,003 1,001,049 701,891 188,881 Foreign Currencies at Value................................. -- -- -- 887 Cash........................................................ 8 1 -- 7,480 Receivables: Investment Securities Sold................................ 19,798 13,926 33 -- Dividends, Interest and Tax Reclaims...................... 2,711 1,636 4,986 6,468 Securities Lending Income................................. 1,076 668 114 140 Fund Shares Sold.......................................... 3,939 7,461 5,045 2,363 Prepaid Expenses and Other Assets........................... 53 36 54 21 -------------- -------------- ------------ ------------ Total Assets........................................... 11,494,814 6,051,645 7,323,578 3,319,490 -------------- -------------- ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned.......................... 2,198,003 1,001,049 701,891 188,881 Investment Securities Purchased........................... 41,472 15,934 10,641 67 Fund Shares Redeemed...................................... 4,586 3,370 2,093 1,827 Due to Advisor............................................ 2,556 1,994 830 639 Accrued Expenses and Other Liabilities...................... 481 271 364 229 -------------- -------------- ------------ ------------ Total Liabilities...................................... 2,247,098 1,022,618 715,819 191,643 -------------- -------------- ------------ ------------ NET ASSETS.................................................. $ 9,247,716 $ 5,029,027 $ 6,607,759 $ 3,127,847 ============== ============== ============ ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: Institutional Class Shares -- based on net assets of $9,247,716; $5,029,027; $6,607,759 and $3,127,847 and shares outstanding of 294,721,795; 250,206,560; 204,979,714 and 144,898,247, respectively.................. $ 31.38 $ 20.10 $ 32.24 $ 21.59 ============== ============== ============ ============ NUMBER OF SHARES AUTHORIZED................................. 1,000,000,000 1,500,000,000 700,000,000 500,000,000 ============== ============== ============ ============ Investments at Cost......................................... $ 6,673,921 $ 3,349,380 $ 4,393,384 $ 2,561,136 ============== ============== ============ ============ Foreign Currencies at Cost.................................. $ -- $ -- $ -- $ 890 ============== ============== ============ ============ NET ASSETS CONSIST OF: Paid-In Capital............................................. $ 6,457,485 $ 3,093,645 $ 4,621,934 $ 2,809,203 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)........................... 5,881 2,541 23,541 7,583 Accumulated Net Realized Gain (Loss)........................ 249,713 272,173 (228,362) (240,860) Net Unrealized Foreign Exchange Gain (Loss)................. -- -- -- (190) Net Unrealized Appreciation (Depreciation).................. 2,534,637 1,660,668 2,190,646 552,111 -------------- -------------- ------------ ------------ NET ASSETS.................................................. $ 9,247,716 $ 5,029,027 $ 6,607,759 $ 3,127,847 ============== ============== ============ ============ ---------- * 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, 2014 (Amounts in thousands, except share and per share amounts) International International Japanese Small Core Equity Small Company Portfolio* Company Portfolio ASSETS: Investments in Affiliated Investment Companies at Value.................... -- $ 8,831,558 $ 508,413 Investments at Value (including $1,270,773, $0, $0 and $0 of securities on loan, respectively)....................................................... $ 12,231,918 -- -- Temporary Cash............................................................. -- 9,752 -- Collateral from Securities on Loan Invested in Affiliate at Value & Cost... 1,313,053 -- -- Foreign Currencies at Value................................................ 5,615 -- -- Cash....................................................................... 74,244 -- -- Receivables: Investment Securities Sold............................................... 435 -- -- Dividends, Interest and Tax Reclaims..................................... 25,473 -- -- Securities Lending Income................................................ 939 -- -- Fund Shares Sold......................................................... 22,866 12,543 83 Unrealized Gain on Foreign Currency Contracts.............................. 4 -- -- Prepaid Expenses and Other Assets.......................................... 120 45 8 -------------- -------------- ------------ Total Assets........................................................... 13,674,667 8,853,898 508,504 -------------- -------------- ------------ LIABILITIES: Payables: Upon Return of Securities Loaned......................................... 1,313,053 -- -- Investment Securities Purchased.......................................... 55,267 -- -- Fund Shares Redeemed..................................................... 7,207 6,012 119 Due to Advisor........................................................... 3,502 2,942 169 Unrealized Loss on Foreign Currency Contracts............................ 185 -- -- Accrued Expenses and Other Liabilities..................................... 911 427 26 -------------- -------------- ------------ Total Liabilities...................................................... 1,380,125 9,381 314 -------------- -------------- ------------ NET ASSETS................................................................. $ 12,294,542 $ 8,844,517 $ 508,190 ============== ============== ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: Institutional Class Shares -- based on net assets of $12,294,542; $8,844,517; $508,190 and $364,117 and shares outstanding of 1,011,887,141; 484,820,150; 26,534,841 and 15,916,240, respectively....... $ 12.15 $ 18.24 $ 19.15 ============== ============== ============ NUMBER OF SHARES AUTHORIZED................................................ 2,000,000,000 1,500,000,000 100,000,000 ============== ============== ============ Investments in Affiliated Investment Companies at Cost..................... $ -- $ 7,805,376 $ 492,147 ============== ============== ============ Investments at Cost........................................................ $ 11,070,295 $ -- $ -- ============== ============== ============ Foreign Currencies at Cost................................................. $ 5,656 $ -- $ -- ============== ============== ============ NET ASSETS CONSIST OF: Paid-In Capital............................................................ $ 11,399,671 $ 7,513,994 $ 551,447 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)........................................................ 40,713 36,226 2,523 Accumulated Net Realized Gain (Loss)....................................... (306,816) 268,704 (61,922) Net Unrealized Foreign Exchange Gain (Loss)................................ (608) (589) (124) Net Unrealized Appreciation (Depreciation)................................. 1,161,582 1,026,182 16,266 -------------- -------------- ------------ NET ASSETS................................................................. $ 12,294,542 $ 8,844,517 $ 508,190 ============== ============== ============ Asia Pacific Small Company ASSETS: Investments in Affiliated Investment Companies at Value.................... $ 364,292 Investments at Value (including $1,270,773, $0, $0 and $0 of securities on loan, respectively)....................................................... -- Temporary Cash............................................................. -- 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......................................................... 58 Unrealized Gain on Foreign Currency Contracts.............................. -- Prepaid Expenses and Other Assets.......................................... 9 ------------ Total Assets........................................................... 364,359 ------------ LIABILITIES: Payables: Upon Return of Securities Loaned......................................... -- Investment Securities Purchased.......................................... -- Fund Shares Redeemed..................................................... 101 Due to Advisor........................................................... 122 Unrealized Loss on Foreign Currency Contracts............................ -- Accrued Expenses and Other Liabilities..................................... 19 ------------ Total Liabilities...................................................... 242 ------------ NET ASSETS................................................................. $ 364,117 ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: Institutional Class Shares -- based on net assets of $12,294,542; $8,844,517; $508,190 and $364,117 and shares outstanding of 1,011,887,141; 484,820,150; 26,534,841 and 15,916,240, respectively....... $ 22.88 ============ NUMBER OF SHARES AUTHORIZED................................................ 100,000,000 ============ Investments in Affiliated Investment Companies at Cost..................... $ 360,080 ============ Investments at Cost........................................................ $ -- ============ Foreign Currencies at Cost................................................. $ -- ============ NET ASSETS CONSIST OF: Paid-In Capital............................................................ $ 380,034 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)........................................................ 7,045 Accumulated Net Realized Gain (Loss)....................................... (27,173) Net Unrealized Foreign Exchange Gain (Loss)................................ (1) Net Unrealized Appreciation (Depreciation)................................. 4,212 ------------ NET ASSETS................................................................. $ 364,117 ============ ---------- * 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, 2014 (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....... $ 35,057 $ 169,046 -- $ 3,300,166 Investments at Value (including $0, $0, $190,837, $0 and $988,066 of securities on loan, respectively)................ -- -- $ 3,065,419 -- Temporary Cash Investments at Value & Cost.................... -- -- -- 8,925 Collateral from Securities on Loan Invested in Affiliate at Value & Cost................................................. -- -- 198,808 -- Foreign Currencies at Value................................... -- -- 717 -- Cash.......................................................... -- -- 20,031 -- Receivables: Investment Securities/Affiliated Investment Company Sold....................................................... -- -- 283 -- Dividends, Interest and Tax Reclaims........................ -- -- 9,292 1 Securities Lending Income................................... -- -- 130 -- Fund Shares Sold............................................ -- 99 4,324 4,904 Unrealized Gain on Foreign Currency Contracts................. -- -- 1 -- Prepaid Expenses and Other Assets............................. 7 10 27 40 ------------ ------------ ------------ ------------ Total Assets.............................................. 35,064 169,155 3,299,032 3,314,036 ------------ ------------ ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned............................ -- -- 198,808 -- Investment Securities/Affiliated Investment Company Purchased.................................................. -- -- 10,145 5,300 Fund Shares Redeemed........................................ -- 128 455 3,034 Due to Advisor.............................................. 10 56 875 51 Unrealized Loss on Foreign Currency Contracts................. -- -- 151 -- Accrued Expenses and Other Liabilities........................ 4 10 222 179 ------------ ------------ ------------ ------------ Total Liabilities......................................... 14 194 210,656 8,564 ------------ ------------ ------------ ------------ NET ASSETS.................................................... $ 35,050 $ 168,961 $ 3,088,376 $ 3,305,472 ============ ============ ============ ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: Institutional Class Shares -- based on net assets of $35,050; $168,961; $3,088,376; $3,305,472 and $11,684,771 and shares outstanding of 975,775; 8,734,430; 548,726,426; 310,892,904 and 597,749,808, respectively.................... $ 35.92 $ 19.34 $ 5.63 $ 10.63 ============ ============ ============ ============ NUMBER OF SHARES AUTHORIZED................................... 100,000,000 100,000,000 700,000,000 500,000,000 ============ ============ ============ ============ Investments in Affiliated Investment Companies at Cost........ $ 23,694 $ 144,331 $ -- $ 2,628,854 ============ ============ ============ ============ Investments at Cost........................................... $ -- $ -- $ 2,698,301 $ -- ============ ============ ============ ============ Foreign Currencies at Cost.................................... $ -- $ -- $ 721 $ -- ============ ============ ============ ============ NET ASSETS CONSIST OF: Paid-In Capital............................................... $ 21,546 $ 165,175 $ 3,113,303 $ 2,649,228 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income).................................... 106 119 (153,170) 21,784 Accumulated Net Realized Gain (Loss).......................... 2,032 (21,168) (238,590) (36,852) Net Unrealized Foreign Exchange Gain (Loss)................... 3 120 (281) -- Net Unrealized Appreciation (Depreciation).................... 11,363 24,715 367,114 671,312 ------------ ------------ ------------ ------------ NET ASSETS.................................................... $ 35,050 $ 168,961 $ 3,088,376 $ 3,305,472 ============ ============ ============ ============ DFA International Small Cap Value Portfolio* ---------------- ASSETS: Investments in Affiliated Investment Companies at Value....... -- Investments at Value (including $0, $0, $190,837, $0 and $988,066 of securities on loan, respectively)................ $ 11,620,902 Temporary Cash Investments at Value & Cost.................... -- Collateral from Securities on Loan Invested in Affiliate at Value & Cost................................................. 1,064,003 Foreign Currencies at Value................................... 28,811 Cash.......................................................... 11,527 Receivables: Investment Securities/Affiliated Investment Company Sold....................................................... 9,978 Dividends, Interest and Tax Reclaims........................ 29,193 Securities Lending Income................................... 1,089 Fund Shares Sold............................................ 7,407 Unrealized Gain on Foreign Currency Contracts................. 2 Prepaid Expenses and Other Assets............................. 85 -------------- Total Assets.............................................. 12,772,997 -------------- LIABILITIES: Payables: Upon Return of Securities Loaned............................ 1,064,003 Investment Securities/Affiliated Investment Company Purchased.................................................. 12,746 Fund Shares Redeemed........................................ 4,200 Due to Advisor.............................................. 6,300 Unrealized Loss on Foreign Currency Contracts................. 191 Accrued Expenses and Other Liabilities........................ 786 -------------- Total Liabilities......................................... 1,088,226 -------------- NET ASSETS.................................................... $ 11,684,771 ============== NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: Institutional Class Shares -- based on net assets of $35,050; $168,961; $3,088,376; $3,305,472 and $11,684,771 and shares outstanding of 975,775; 8,734,430; 548,726,426; 310,892,904 and 597,749,808, respectively.................... $ 19.55 ============== NUMBER OF SHARES AUTHORIZED................................... 2,300,000,000 ============== Investments in Affiliated Investment Companies at Cost........ $ -- ============== Investments at Cost........................................... $ 10,060,182 ============== Foreign Currencies at Cost.................................... $ 29,123 ============== NET ASSETS CONSIST OF: Paid-In Capital............................................... $ 9,902,122 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income).................................... 20,577 Accumulated Net Realized Gain (Loss).......................... 202,416 Net Unrealized Foreign Exchange Gain (Loss)................... (752) Net Unrealized Appreciation (Depreciation).................... 1,560,408 -------------- NET ASSETS.................................................... $ 11,684,771 ============== ---------- * 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, 2014 (Amounts in thousands, except share and per share amounts) International World ex U.S. World ex U.S. Vector Equity World ex U.S. Targeted Value Core Equity Portfolio* Value Portfolio Portfolio Portfolio ------------- --------------- -------------- ------------- ASSETS: Investments in Affiliated Investment Companies at Value............. -- $ 113,790 $ 150,964 $ 405,777 Investments at Value (including $139,049, $0, $0, $0 and $0 of securities on loan, respectively).................................. $ 1,297,986 -- -- -- Temporary Cash Investments at Value & Cost.......................... -- -- -- -- Collateral from Securities on Loan Invested in Affiliate at Value & Cost............................................................... 144,450 -- -- -- Foreign Currencies at Value......................................... 759 -- -- -- Cash................................................................ 5,192 124 107 1,539 Receivables: Investment Securities Sold........................................ 34 -- -- -- Dividends, Interest and Tax Reclaims.............................. 2,867 -- -- -- Securities Lending Income......................................... 109 -- -- -- Fund Shares Sold.................................................. 2,203 97 119 677 From Advisor...................................................... -- -- -- 23 Prepaid Expenses and Other Assets................................... 21 11 19 16 ------------ ------------ ------------ ------------ Total Assets.................................................... 1,453,621 114,022 151,209 408,032 ------------ ------------ ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned.................................. 144,450 -- -- -- Investment Securities Purchased................................... 2,523 17 32 1,339 Fund Shares Redeemed.............................................. 511 10 50 9 Due to Advisor.................................................... 482 39 16 -- Unrealized Loss on Foreign Currency Contracts....................... 2 -- -- -- Accrued Expenses and Other Liabilities.............................. 100 5 15 36 ------------ ------------ ------------ ------------ Total Liabilities............................................... 148,068 71 113 1,384 ------------ ------------ ------------ ------------ NET ASSETS.......................................................... $ 1,305,553 $ 113,951 $ 151,096 $ 406,648 ============ ============ ============ ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: Institutional Class Shares -- based on net assets of $1,305,553; $113,951; $151,096; $406,648 and $75,707 and shares outstanding of 115,931,127; 9,967,506; 12,511,669; 38,752,388 and 5,680,133, respectively............................. $ 11.26 $ 11.43 $ 12.08 $ 10.49 ============ ============ ============ ============ NUMBER OF SHARES AUTHORIZED......................................... 500,000,000 100,000,000 100,000,000 100,000,000 ============ ============ ============ ============ Investments in Affiliated Investment Companies at Cost.............. $ -- $ 104,616 $ 144,053 $ 407,877 ============ ============ ============ ============ Investments at Cost................................................. $ 1,142,139 $ -- $ -- $ -- ============ ============ ============ ============ Foreign Currencies at Cost.......................................... $ 763 $ -- $ -- $ -- ============ ============ ============ ============ NET ASSETS CONSIST OF: Paid-In Capital..................................................... $ 1,133,748 $ 106,315 $ 145,500 $ 409,000 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)............................................. 4,680 343 218 (2) Accumulated Net Realized Gain (Loss)................................ 11,355 (1,837) (1,533) (250) Net Unrealized Foreign Exchange Gain (Loss)......................... (73) (44) -- -- Net Unrealized Appreciation (Depreciation).......................... 155,843 9,174 6,911 (2,100) ------------ ------------ ------------ ------------ NET ASSETS.......................................................... $ 1,305,553 $ 113,951 $ 151,096 $ 406,648 ============ ============ ============ ============ World Core Equity Portfolio ------------ ASSETS: Investments in Affiliated Investment Companies at Value............. $ 75,647 Investments at Value (including $139,049, $0, $0, $0 and $0 of securities on loan, respectively).................................. -- Temporary Cash Investments at Value & Cost.......................... 35 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...................................................... 28 Prepaid Expenses and Other Assets................................... 7 ------------ Total Assets.................................................... 75,717 ------------ LIABILITIES: Payables: Upon Return of Securities Loaned.................................. -- Investment Securities Purchased................................... -- Fund Shares Redeemed.............................................. -- Due to Advisor.................................................... -- Unrealized Loss on Foreign Currency Contracts....................... -- Accrued Expenses and Other Liabilities.............................. 10 ------------ Total Liabilities............................................... 10 ------------ NET ASSETS.......................................................... $ 75,707 ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: Institutional Class Shares -- based on net assets of $1,305,553; $113,951; $151,096; $406,648 and $75,707 and shares outstanding of 115,931,127; 9,967,506; 12,511,669; 38,752,388 and 5,680,133, respectively............................. $ 13.33 ============ NUMBER OF SHARES AUTHORIZED......................................... 100,000,000 ============ Investments in Affiliated Investment Companies at Cost.............. $ 78,254 ============ Investments at Cost................................................. $ -- ============ Foreign Currencies at Cost.......................................... $ -- ============ NET ASSETS CONSIST OF: Paid-In Capital..................................................... $ 78,074 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)............................................. -- Accumulated Net Realized Gain (Loss)................................ 240 Net Unrealized Foreign Exchange Gain (Loss)......................... -- Net Unrealized Appreciation (Depreciation).......................... (2,607) ------------ NET ASSETS.......................................................... $ 75,707 ============ ---------- * 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, 2014 (Amounts in thousands, except share and per share amounts) Selectively Emerging Hedged Global Emerging Markets Equity Markets Small Cap Portfolio Portfolio Portfolio ------------- ------------ ------------ ASSETS: Investments in Affiliated Investment Companies at Value.................. $ 141,266 $ 4,080,491 $ 4,861,064 Investments at Value (including $0, $0, $0, $0 and $2,020,097 of securities on loan, respectively)....................................... -- -- -- Temporary Cash........................................................... 5,756 -- -- Collateral from Securities on Loan Invested in Affiliate at Value & Cost. -- -- -- Segregated Cash for Futures Contracts.................................... 235 -- -- Foreign Currencies at Value.............................................. -- -- -- Cash..................................................................... -- -- -- Receivables: Investment Securities/Affiliated Investment Companies Sold.............. -- -- -- Dividends, Interest and Tax Reclaims.................................... -- -- -- Securities Lending Income............................................... -- -- -- Fund Shares Sold........................................................ -- 5,607 2,337 From Advisor............................................................ 2 -- -- Futures Margin Variation................................................ 58 -- -- Unrealized Gain on Forward Currency Contracts............................ 638 -- -- Prepaid Expenses and Other Assets........................................ 13 30 50 ------------ ------------ ------------ Total Assets......................................................... 147,968 4,086,128 4,863,451 ------------ ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned........................................ -- -- -- Investment Securities/Affiliated Investment Companies Purchased......... 300 -- -- Fund Shares Redeemed.................................................... 383 10,866 810 Due to Advisor.......................................................... -- 1,349 1,835 Unrealized Loss on Foreign Currency Contracts............................ -- -- -- Accrued Expenses and Other Liabilities................................... 9 215 203 ------------ ------------ ------------ Total Liabilities.................................................... 692 12,430 2,848 ------------ ------------ ------------ NET ASSETS............................................................... $ 147,276 $ 4,073,698 $ 4,860,603 ============ ============ ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: Class R2 Shares -- based on net assets of $0; $0; $0; $99,066 and $0 and shares outstanding of 0; 0; 0; 3,564,838 and 0, respectively........ N/A N/A N/A ============ ============ ============ Institutional Class Shares -- based on net assets of $147,276; $4,073,698; $4,860,603; $18,647,276 and $15,727,547 and shares outstanding of 10,370,147; 152,931,698; 226,969,296; 670,453,061 and 783,404,911, respectively........................................... $ 14.20 $ 26.64 $ 21.42 ============ ============ ============ NUMBER OF SHARES AUTHORIZED.............................................. 100,000,000 500,000,000 500,000,000 ============ ============ ============ Investments in Affiliated Investment Companies at Cost................... $ 124,892 $ 2,936,205 $ 4,385,026 ============ ============ ============ Investments at Cost...................................................... $ -- $ -- $ -- ============ ============ ============ Foreign Currencies at Cost............................................... $ -- $ -- $ -- ============ ============ ============ NET ASSETS CONSIST OF: Paid-In Capital.......................................................... $ 125,440 $ 2,949,124 $ 4,296,559 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)...................................................... 3,031 6,653 7,565 Accumulated Net Realized Gain (Loss)..................................... 1,742 (26,314) 80,669 Net Unrealized Foreign Exchange Gain (Loss).............................. 638 (51) (228) Net Unrealized Appreciation (Depreciation)............................... 16,425 1,144,286 476,038 ------------ ------------ ------------ NET ASSETS............................................................... $ 147,276 $ 4,073,698 $ 4,860,603 ============ ============ ============ Emerging Emerging Markets Core Markets Value Equity Portfolio Portfolio* -------------- -------------- ASSETS: Investments in Affiliated Investment Companies at Value.................. $ 18,743,742 -- Investments at Value (including $0, $0, $0, $0 and $2,020,097 of securities on loan, respectively)....................................... -- $ 15,609,324 Temporary Cash........................................................... -- -- Collateral from Securities on Loan Invested in Affiliate at Value & Cost. -- 1,559,647 Segregated Cash for Futures Contracts.................................... -- -- Foreign Currencies at Value.............................................. -- 17,742 Cash..................................................................... -- 91,653 Receivables: Investment Securities/Affiliated Investment Companies Sold.............. -- 1,250 Dividends, Interest and Tax Reclaims.................................... -- 13,732 Securities Lending Income............................................... -- 3,328 Fund Shares Sold........................................................ 17,245 18,176 From Advisor............................................................ -- -- Futures Margin Variation................................................ -- -- Unrealized Gain on Forward Currency Contracts............................ -- -- Prepaid Expenses and Other Assets........................................ 68 91 -------------- -------------- Total Assets......................................................... 18,761,055 17,314,943 -------------- -------------- LIABILITIES: Payables: Upon Return of Securities Loaned........................................ -- 1,559,647 Investment Securities/Affiliated Investment Companies Purchased......... -- 10,304 Fund Shares Redeemed.................................................... 7,771 8,693 Due to Advisor.......................................................... 6,275 7,152 Unrealized Loss on Foreign Currency Contracts............................ -- 15 Accrued Expenses and Other Liabilities................................... 667 1,585 -------------- -------------- Total Liabilities.................................................... 14,713 1,587,396 -------------- -------------- NET ASSETS............................................................... $ 18,746,342 $ 15,727,547 ============== ============== NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: Class R2 Shares -- based on net assets of $0; $0; $0; $99,066 and $0 and shares outstanding of 0; 0; 0; 3,564,838 and 0, respectively........ $ 27.79 N/A ============== ============== Institutional Class Shares -- based on net assets of $147,276; $4,073,698; $4,860,603; $18,647,276 and $15,727,547 and shares outstanding of 10,370,147; 152,931,698; 226,969,296; 670,453,061 and 783,404,911, respectively........................................... $ 27.81 $ 20.08 ============== ============== NUMBER OF SHARES AUTHORIZED.............................................. 1,500,000,000 1,000,000,000 ============== ============== Investments in Affiliated Investment Companies at Cost................... $ 18,506,990 $ -- ============== ============== Investments at Cost...................................................... $ -- $ 14,262,183 ============== ============== Foreign Currencies at Cost............................................... $ -- $ 17,745 ============== ============== NET ASSETS CONSIST OF: Paid-In Capital.......................................................... $ 19,017,206 $ 14,516,502 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)...................................................... 37,443 28,530 Accumulated Net Realized Gain (Loss)..................................... (545,118) (164,363) Net Unrealized Foreign Exchange Gain (Loss).............................. 59 (260) Net Unrealized Appreciation (Depreciation)............................... 236,752 1,347,138 -------------- -------------- NET ASSETS............................................................... $ 18,746,342 $ 15,727,547 ============== ============== ---------- * 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, 2014 (Amounts in thousands) Enhanced U.S. Large U.S. Large U.S. Large U.S. Targeted Company Cap Equity Cap Value Value Portfolio Portfolio Portfolio* Portfolio ---------- ---------- ---------- ------------- Investment Income Net Investment Income Allocated from Affiliated Investment Company: Dividends................................................................... -- -- $ 272,418 -- Interest.................................................................... -- -- 20 -- Income from Securities Lending.............................................. -- -- 2,502 -- Expenses Allocated from Affiliated Investment Company....................... -- -- (14,920) -- ------- ------- ---------- -------- Total Net Investment Income Received from Affiliated Investment Company.... -- -- 260,020 -- ------- ------- ---------- -------- Fund Investment Income Dividends (Net of Foreign Taxes Withheld of $0, $1, $0 and $8, respectively). $ 162 $ 3,773 -- $ 59,301 Interest..................................................................... 1,451 1 -- 12 Income from Securities Lending............................................... -- 54 -- 3,332 ------- ------- ---------- -------- Total Investment Income.................................................... 1,613 3,828 -- 62,645 ------- ------- ---------- -------- Fund Expenses Investment Advisory Services Fees............................................ 103 297 -- 4,941 Administrative Services Fees................................................. 310 -- 20,484 12,352 Accounting & Transfer Agent Fees............................................. 15 17 107 285 S&P 500(R) Fees.............................................................. 8 -- -- -- Shareholder Servicing Fees -- Class R1 Shares............................................................. -- -- -- 12 Class R2 Shares............................................................. -- -- -- 166 Custodian Fees............................................................... 8 15 -- 78 Filing Fees.................................................................. 22 33 319 218 Shareholders' Reports........................................................ 4 6 298 142 Directors'/Trustees' Fees & Expenses......................................... 1 1 96 35 Professional Fees............................................................ 5 6 65 109 Organizational & Offering Costs.............................................. -- 28 -- -- Other........................................................................ 3 3 76 43 ------- ------- ---------- -------- Total Expenses............................................................. 479 406 21,445 18,381 ------- ------- ---------- -------- Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor (Note C)............................................... -- (29) -- -- Fees Paid Indirectly......................................................... (2) -- -- -- ------- ------- ---------- -------- Net Expenses................................................................. 477 377 21,445 18,381 ------- ------- ---------- -------- Net Investment Income (Loss)................................................. 1,136 3,451 238,575 44,264 ------- ------- ---------- -------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold.................................................. 643 563 600,495 262,739 Futures..................................................................... 31,175 -- -- -- Foreign Currency Transactions............................................... (151) -- -- -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.................................. 332 24,836 1,088,709 116,751 Futures..................................................................... (852) -- -- -- Translation of Foreign Currency Denominated Amounts......................... 408 -- -- -- ------- ------- ---------- -------- Net Realized and Unrealized Gain (Loss)...................................... 31,555 25,399 1,689,204 379,490 ------- ------- ---------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations................ $32,691 $28,850 $1,927,779 $423,754 ======= ======= ========== ======== ---------- * 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. 112 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2014 (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 $38, $46, $34 and $6, respectively)..................................................... $120,663 $ 159,836 $ 195,784 $ 48,388 Interest........................................................... 25 22 22 4 Income from Securities Lending..................................... 5,060 4,124 6,170 2,310 -------- ---------- ---------- -------- Total Investment Income......................................... 125,748 163,982 201,976 50,702 -------- ---------- ---------- -------- Expenses Investment Advisory Services Fees.................................. 21,412 15,551 22,906 9,637 Administrative Services Fees....................................... 32,118 -- -- -- Accounting & Transfer Agent Fees................................... 606 518 647 184 Custodian Fees..................................................... 148 129 148 54 Filing Fees........................................................ 336 439 377 112 Shareholders' Reports.............................................. 213 128 168 80 Directors'/Trustees' Fees & Expenses............................... 76 64 80 23 Professional Fees.................................................. 254 189 243 69 Other.............................................................. 95 79 99 33 -------- ---------- ---------- -------- Total Expenses.................................................. 55,258 17,097 24,668 10,192 -------- ---------- ---------- -------- Net Investment Income (Loss)....................................... 70,490 146,885 177,308 40,510 -------- ---------- ---------- -------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold....................................... 462,894 51,551 91,185 115,011 Futures.......................................................... (12,757) -- -- -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities............................................ 404,462 1,034,068 1,187,562 197,283 -------- ---------- ---------- -------- Net Realized and Unrealized Gain (Loss)............................ 854,599 1,085,619 1,278,747 312,294 -------- ---------- ---------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations...... $925,089 $1,232,504 $1,456,055 $352,804 ======== ========== ========== ======== See accompanying Notes to Financial Statements. 113 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2014 (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 $22, $12, $0 and $7,592, respectively)........................................ $ 92,975 $ 51,716 $ 143,591 $105,069 Interest...................................................... 11 3 9 -- Income from Securities Lending................................ 10,024 6,741 1,285 3,427 -------- -------- ---------- -------- Total Investment Income.................................... 103,010 58,460 144,885 108,496 -------- -------- ---------- -------- Expenses Investment Advisory Services Fees............................. 2,525 4,842 9,263 7,471 Administrative Services Fees.................................. 26,929 19,369 -- -- Accounting & Transfer Agent Fees.............................. 478 277 309 182 Custodian Fees................................................ 140 82 64 319 Filing Fees................................................... 286 113 219 95 Shareholders' Reports......................................... 194 105 158 121 Directors'/Trustees' Fees & Expenses.......................... 60 35 37 21 Professional Fees............................................. 207 123 111 111 Other......................................................... 74 49 42 39 -------- -------- ---------- -------- Total Expenses............................................. 30,893 24,995 10,203 8,359 -------- -------- ---------- -------- Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor (Note C).................... -- -- (396) -- Fees Paid Indirectly.......................................... -- -- -- (9) -------- -------- ---------- -------- Net Expenses............................................... 30,893 24,995 9,807 8,350 -------- -------- ---------- -------- Net Investment Income (Loss).................................... 72,117 33,465 135,078 100,146 -------- -------- ---------- -------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold.................................. 281,378 293,787 51,264 (5,883) Futures..................................................... -- (692) (553) -- Foreign Currency Transactions............................... -- -- -- (1,034) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.................. 332,001 40,078 857,969 (85,773) Translation of Foreign Currency Denominated Amounts......... -- -- -- (232) -------- -------- ---------- -------- Net Realized and Unrealized Gain (Loss)....................... 613,379 333,173 908,680 (92,922) -------- -------- ---------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations..................................................... $685,496 $366,638 $1,043,758 $ 7,224 ======== ======== ========== ======== See accompanying Notes to Financial Statements. 114 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2014 (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, $18,245, $804 and $310, respectively)........................................... -- $ 223,629 $ 7,253 $ 14,113 Interest........................................................... -- 1 -- -- Income from Securities Lending..................................... -- 19,367 641 1,067 Expenses Allocated from Affiliated Investment Companies............ -- (11,216) (562) (490) --------- --------- ------- -------- Total Net Investment Income Received from Affiliated Investment Companies............................................. -- 231,781 7,332 14,690 --------- --------- ------- -------- Fund Investment Income Dividends (Net of Foreign Taxes Withheld of $26,542, $0, $0 and $0, respectively)....................................................... $ 361,812 -- -- -- Interest............................................................. -- 31 -- -- Income from Securities Lending....................................... 15,893 -- -- -- --------- --------- ------- -------- Total Investment Income........................................... 377,705 31 -- -- --------- --------- ------- -------- Fund Expenses Investment Advisory Services Fees.................................... 39,037 -- -- -- Administrative Services Fees......................................... -- 36,252 1,757 1,488 Accounting & Transfer Agent Fees..................................... 641 95 25 25 Custodian Fees....................................................... 1,505 2 -- -- Filing Fees.......................................................... 553 197 34 29 Shareholders' Reports................................................ 234 212 4 5 Directors'/Trustees' Fees & Expenses................................. 78 64 3 3 Professional Fees.................................................... 269 73 5 7 Other................................................................ 131 53 3 1 --------- --------- ------- -------- Total Expenses.................................................... 42,448 36,948 1,831 1,558 --------- --------- ------- -------- Fees Paid Indirectly................................................. (49) -- -- -- --------- --------- ------- -------- Net Expenses......................................................... 42,399 36,948 1,831 1,558 --------- --------- ------- -------- Net Investment Income (Loss)......................................... 335,306 194,864 5,501 13,132 --------- --------- ------- -------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold**....................................... (183,788) 303,846 9,738 227 Futures............................................................ -- (945) -- -- Foreign Currency Transactions...................................... (1,661) (909) (118) -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency......................... (293,395) (612,635) (8,349) (25,748) Futures............................................................ -- -- -- -- Translation of Foreign Currency Denominated Amounts................ (699) (606) (112) (4) --------- --------- ------- -------- Net Realized and Unrealized Gain (Loss).............................. (479,543) (311,249) 1,159 (25,525) --------- --------- ------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations............................................................ $(144,237) $(116,385) $ 6,660 $(12,393) ========= ========= ======= ======== ---------- * 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, $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, 2014 (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 $1, $601, $0, $0 and $0, respectively).......................................... $ 1,170 $ 4,009 -- -- Income Distributions Received from Affiliated Investment Companies...................................................... -- -- -- $ 84,335 Income from Securities Lending.................................. 5 585 -- -- Expenses Allocated from Affiliated Investment Company........... (44) (231) -- -- ------- -------- -------- -------- Total Net Investment Income Received from Affiliated Investment Company........................................... 1,131 4,363 -- 84,335 ------- -------- -------- -------- Fund Investment Income Dividends (Net of Foreign Taxes Withheld of $0, $0, $12,355, $0 and $20,887, respectively)...................................... -- -- $113,687 -- Interest......................................................... -- 1 -- 4 Income from Securities Lending................................... -- -- 1,921 -- ------- -------- -------- -------- Total Fund Investment Income.................................. -- 1 115,608 4 ------- -------- -------- -------- Fund Expenses Investment Advisory Services Fees................................ -- -- 8,947 6,955 Administrative Services Fees..................................... 153 728 -- -- Accounting & Transfer Agent Fees................................. 17 24 157 55 Custodian Fees................................................... -- -- 376 1 Filing Fees...................................................... 16 18 154 213 Shareholders' Reports............................................ 1 4 73 114 Directors'/Trustees' Fees & Expenses............................. -- 1 18 17 Professional Fees................................................ 3 4 57 20 Other............................................................ 1 1 31 9 ------- -------- -------- -------- Total Expenses................................................ 191 780 9,813 7,384 ------- -------- -------- -------- Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor (Note C)....................... (12) -- -- (5,839) Fees Paid Indirectly............................................. -- -- (14) -- ------- -------- -------- -------- Net Expenses..................................................... 179 780 9,799 1,545 ------- -------- -------- -------- Net Investment Income (Loss)..................................... 952 3,584 105,809 82,794 ------- -------- -------- -------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold**.................................... 2,353 5,664 3,629 (2,790) Futures......................................................... -- (53) -- -- Foreign Currency Transactions................................... (4) (20) (581) -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency...................... (2,920) (13,937) 99,706 305,008 Futures......................................................... -- -- -- -- Translation of Foreign Currency Denominated Amounts............. (1) (9) (267) -- ------- -------- -------- -------- Net Realized and Unrealized Gain (Loss).......................... (572) (8,355) 102,487 302,218 ------- -------- -------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations........................................................ $ 380 $ (4,771) $208,296 $385,012 ======= ======== ======== ======== DFA International Small Cap Value Portfolio ------------- Investment Income Net Investment Income Allocated from Affiliated Investment Company: Dividends (Net of Foreign Taxes Withheld of $1, $601, $0, $0 and $0, respectively).......................................... -- Income Distributions Received from Affiliated Investment Companies...................................................... -- Income from Securities Lending.................................. -- Expenses Allocated from Affiliated Investment Company........... -- --------- Total Net Investment Income Received from Affiliated Investment Company........................................... -- --------- Fund Investment Income Dividends (Net of Foreign Taxes Withheld of $0, $0, $12,355, $0 and $20,887, respectively)...................................... $ 275,245 Interest......................................................... -- Income from Securities Lending................................... 19,108 --------- Total Fund Investment Income.................................. 294,353 --------- Fund Expenses Investment Advisory Services Fees................................ 77,966 Administrative Services Fees..................................... -- Accounting & Transfer Agent Fees................................. 690 Custodian Fees................................................... 1,463 Filing Fees...................................................... 235 Shareholders' Reports............................................ 246 Directors'/Trustees' Fees & Expenses............................. 85 Professional Fees................................................ 324 Other............................................................ 146 --------- Total Expenses................................................ 81,155 --------- Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor (Note C)....................... -- Fees Paid Indirectly............................................. (16) --------- Net Expenses..................................................... 81,139 --------- Net Investment Income (Loss)..................................... 213,214 --------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold**.................................... 220,979 Futures......................................................... -- Foreign Currency Transactions................................... (2,193) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency...................... (457,867) Futures......................................................... -- Translation of Foreign Currency Denominated Amounts............. (878) --------- Net Realized and Unrealized Gain (Loss).......................... (239,959) --------- Net Increase (Decrease) in Net Assets Resulting from Operations........................................................ $ (26,745) ========= ---------- * Investment Income and a portion of 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, $0, $0 and $0, respectively. See accompanying Notes to Financial Statements. 116 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2014 (Amounts in thousands) World ex U.S. International World ex U.S. Targeted World ex U.S. World Core Vector Equity Value Value Core Equity Equity Portfolio Portfolio* Portfolio* Portfolio Portfolio* ------------- ------------- ------------- ------------- ---------- Investment Income Net Investment Income Allocated from Affiliated Investment Companies: Dividends (Net of Foreign Taxes Withheld of $0, $310, $147, $0 and $0, respectively)............................ -- $ 4,469 $ 1,133 -- $ 1 Income Distributions Received from Affiliated Investment Companies................................................. -- 182 1,680 $ 6,170 351 Income from Securities Lending............................. -- 128 81 -- -- Expenses Allocated from Affiliated Investment Companies................................................. -- (216) (71) -- -- -------- ------- ------- -------- ------- Total Net Investment Income Received from Affiliated Investment Companies.................................... -- 4,563 2,823 6,170 352 -------- ------- ------- -------- ------- Fund Investment Income Dividends (Net of Foreign Taxes Withheld of $2,855, $0, $0, $0 and $0, respectively)............................... $ 37,256 -- -- -- -- Income from Securities Lending.............................. 1,876 -- -- -- -- -------- ------- ------- -------- ------- Total Investment Income.................................. 39,132 -- -- -- -- -------- ------- ------- -------- ------- Fund Expenses Investment Advisory Services Fees........................... 5,621 554 813 938 81 Accounting & Transfer Agent Fees............................ 84 20 31 28 33 Custodian Fees.............................................. 266 2 4 4 1 Filing Fees................................................. 75 21 48 49 27 Shareholders' Reports....................................... 54 2 2 2 12 Directors'/Trustees' Fees & Expenses........................ 9 1 1 2 -- Professional Fees........................................... 48 10 12 12 21 Organizational & Offering Costs............................. -- -- -- 16 -- Other....................................................... 21 2 3 3 1 -------- ------- ------- -------- ------- Total Expenses........................................... 6,178 612 914 1,054 176 -------- ------- ------- -------- ------- Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor (Note C).................. -- (224) (668) (967) (165) Fees Paid Indirectly........................................ (4) -- -- (1) -- -------- ------- ------- -------- ------- Net Expenses................................................ 6,174 388 246 86 11 -------- ------- ------- -------- ------- Net Investment Income (Loss)................................ 32,958 4,175 2,577 6,084 341 -------- ------- ------- -------- ------- Realized and Unrealized Gain (Loss) Capital Gain Distributions Received from Affiliated Investment Companies....................................... -- 157 983 -- 3 Net Realized Gain (Loss) on: Investment Securities Sold**............................... 14,492 1,007 (2,175) (107) 247 Futures.................................................... -- 1 1 -- -- Foreign Currency Transactions.............................. (376) (40) (9) -- -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency................. (66,559) (6,120) (4,735) (13,820) (2,851) Futures.................................................... -- 1 -- -- -- Translation of Foreign Currency Denominated Amounts................................................... (93) (12) -- -- -- -------- ------- ------- -------- ------- Net Realized and Unrealized Gain (Loss)..................... (52,536) (5,006) (5,935) (13,927) (2,601) -------- ------- ------- -------- ------- Net Increase (Decrease) in Net Assets Resulting from Operations................................................... $(19,578) $ (831) $(3,358) $ (7,843) $(2,260) ======== ======= ======= ======== ======= ---------- * Investment Income and a portion of 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, $3, $0 and $0, respectively. See accompanying Notes to Financial Statements. 117 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2014 (Amounts in thousands) Selectively Emerging Emerging Hedged Emerging Markets Markets Global Equity Markets Small Cap Value Portfolio Portfolio* Portfolio* Portfolio* ------------- ---------- ---------- ---------- Investment Income Net Investment Income Allocated from Affiliated Investment Companies: Dividends (Net of Foreign Taxes Withheld of $0, $12,913, $11,001, $69,599 and $0, respectively).......................................... -- $ 98,189 $101,164 $ 528,265 Income Distributions Received from Affiliated Investment Companies.............................................................. $2,199 -- -- -- Interest................................................................ -- 5 5 8 Income from Securities Lending.......................................... -- 4,707 19,756 24,637 Expenses Allocated from Affiliated Investment Companies................. -- (5,798) (11,646) (28,263) ------ -------- -------- --------- Total Net Investment Income Received from Affiliated Investment Companies............................................................ 2,199 97,103 109,279 524,647 ------ -------- -------- --------- Fund Investment Income Dividends (Net of Foreign Taxes Withheld of $0, $0, $0, $0 and $46,703, respectively)........................................................... -- -- -- -- Interest................................................................. 3 -- -- -- Income from Securities Lending........................................... -- -- -- -- ------ -------- -------- --------- Total Fund Investment Income.......................................... 3 -- -- -- ------ -------- -------- --------- Fund Expenses Investment Advisory Services Fees........................................ 329 -- -- -- Administrative Services Fees............................................. -- 15,438 19,823 76,112 Accounting & Transfer Agent Fees......................................... 18 47 49 141 Shareholder Servicing Fees -- Class R2 Shares......................................................... -- -- -- 250 Custodian Fees........................................................... 2 -- -- -- Filing Fees.............................................................. 28 138 159 227 Shareholders' Reports.................................................... 2 152 77 261 Directors'/Trustees' Fees & Expenses..................................... 1 27 31 135 Professional Fees........................................................ 9 26 29 115 Other.................................................................... 1 22 26 115 ------ -------- -------- --------- Total Expenses........................................................ 390 15,850 20,194 77,356 ------ -------- -------- --------- Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor (Note C)........................................... (315) -- -- -- Fees Paid Indirectly..................................................... -- -- -- -- ------ -------- -------- --------- Net Expenses............................................................. 75 15,850 20,194 77,356 ------ -------- -------- --------- Net Investment Income (Loss)............................................. 2,127 81,253 89,085 447,291 ------ -------- -------- --------- Realized and Unrealized Gain (Loss) Capital Gain Distributions Received from Affiliated Investment Companies............................................................... 342 -- -- -- Net Realized Gain (Loss) on: Investment Securities Sold**............................................ 1,409 (24,604) 98,856 (519,942) Futures................................................................. 572 -- -- 499 Foreign Currency Transactions........................................... 1,469 (658) (968) (4,493) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.............................. 1,003 12,634 21,383 (179,006) Futures................................................................. (82) -- (4) -- Translation of Foreign Currency Denominated Amounts..................... 610 (12) (137) (29) ------ -------- -------- --------- Net Realized and Unrealized Gain (Loss).................................. 5,323 (12,640) 119,130 (702,971) ------ -------- -------- --------- Net Increase (Decrease) in Net Assets Resulting from Operations............ $7,450 $ 68,613 $208,215 $(255,680) ====== ======== ======== ========= Emerging Markets Core Equity Portfolio ----------- Investment Income Net Investment Income Allocated from Affiliated Investment Companies: Dividends (Net of Foreign Taxes Withheld of $0, $12,913, $11,001, $69,599 and $0, respectively).......................................... -- Income Distributions Received from Affiliated Investment Companies.............................................................. -- Interest................................................................ -- Income from Securities Lending.......................................... -- Expenses Allocated from Affiliated Investment Companies................. -- --------- Total Net Investment Income Received from Affiliated Investment Companies............................................................ -- --------- Fund Investment Income Dividends (Net of Foreign Taxes Withheld of $0, $0, $0, $0 and $46,703, respectively)........................................................... $ 357,701 Interest................................................................. 2 Income from Securities Lending........................................... 32,636 --------- Total Fund Investment Income.......................................... 390,339 --------- Fund Expenses Investment Advisory Services Fees........................................ 79,177 Administrative Services Fees............................................. -- Accounting & Transfer Agent Fees......................................... 823 Shareholder Servicing Fees -- Class R2 Shares......................................................... -- Custodian Fees........................................................... 6,018 Filing Fees.............................................................. 527 Shareholders' Reports.................................................... 329 Directors'/Trustees' Fees & Expenses..................................... 100 Professional Fees........................................................ 391 Other.................................................................... 169 --------- Total Expenses........................................................ 87,534 --------- Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor (Note C)........................................... -- Fees Paid Indirectly..................................................... (75) --------- Net Expenses............................................................. 87,459 --------- Net Investment Income (Loss)............................................. 302,880 --------- Realized and Unrealized Gain (Loss) Capital Gain Distributions Received from Affiliated Investment Companies............................................................... -- Net Realized Gain (Loss) on: Investment Securities Sold**............................................ (111,516) Futures................................................................. -- Foreign Currency Transactions........................................... (2,722) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.............................. 123,834 Futures................................................................. -- Translation of Foreign Currency Denominated Amounts..................... (212) --------- Net Realized and Unrealized Gain (Loss).................................. 9,384 --------- Net Increase (Decrease) in Net Assets Resulting from Operations............ $ 312,264 ========= ---------- * 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, $1,357, $0 and $960, 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 June 25, Year Year Year 2013(a) Year Year Ended Ended Ended to Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2014 2013 2014 2013 -------- -------- -------- -------- ----------- ----------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)...................... $ 1,136 $ 1,274 $ 3,451 $ 591 $ 238,575 $ 183,780 Net Realized Gain (Loss) on: Investment Securities Sold...................... 643 (238) 563 37 600,495 819,592 Futures......................................... 31,175 40,444 -- -- -- -- Foreign Currency Transactions................... (151) (934) -- -- -- -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency...... 332 1,803 24,836 10,560 1,088,709 2,030,120 Futures......................................... (852) 5,088 -- -- -- -- Translation of Foreign Currency Denominated Amounts........................................ 408 946 -- -- -- -- -------- -------- -------- -------- ----------- ----------- Net Increase (Decrease) in Net Assets Resulting from Operations..................... 32,691 48,383 28,850 11,188 1,927,779 3,033,492 -------- -------- -------- -------- ----------- ----------- Distributions From: Net Investment Income: Institutional Class Shares...................... (903) (1,597) (3,170) (321) (230,364) (180,943) Net Short-Term Gains: Institutional Class Shares...................... -- -- (40) -- -- -- -------- -------- -------- -------- ----------- ----------- Total Distributions............................ (903) (1,597) (3,210) (321) (230,364) (180,943) -------- -------- -------- -------- ----------- ----------- Capital Share Transactions (1): Shares Issued..................................... 36,703 49,190 134,371 127,286 3,477,302 2,669,600 Shares Issued in Lieu of Cash Distributions....... 757 1,381 3,180 321 209,934 165,830 Shares Redeemed................................... (65,369) (74,528) (23,643) (3,067) (2,200,742) (2,059,492) -------- -------- -------- -------- ----------- ----------- Net Increase (Decrease) from Capital Share Transactions.................................. (27,909) (23,957) 113,908 124,540 1,486,494 775,938 -------- -------- -------- -------- ----------- ----------- Total Increase (Decrease) in Net Assets........ 3,879 22,829 139,548 135,407 3,183,909 3,628,487 Net Assets Beginning of Period............................... 212,840 190,011 135,407 -- 11,963,072 8,334,585 -------- -------- -------- -------- ----------- ----------- End of Period..................................... $216,719 $212,840 $274,955 $135,407 $15,146,981 $11,963,072 ======== ======== ======== ======== =========== =========== (1) Shares Issued and Redeemed: Shares Issued..................................... 2,890 4,732 11,205 12,483 108,157 102,131 Shares Issued in Lieu of Cash Distributions....... 60 142 265 30 6,479 6,512 Shares Redeemed................................... (5,263) (7,146) (1,962) (286) (68,360) (79,135) -------- -------- -------- -------- ----------- ----------- Net Increase (Decrease) from Shares Issued and Redeemed.................................. (2,313) (2,272) 9,508 12,227 46,276 29,508 ======== ======== ======== ======== =========== =========== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)............................................ $ 149 $ 200 $ 502 $ 281 $ 32,662 $ 28,203 ---------- See page 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 U.S. Core Equity 1 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, 2014 2013 2014 2013 2014 2013 ---------- ----------- ----------- ----------- ----------- ----------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)...................... $ 44,264 $ 45,589 $ 70,490 $ 104,594 $ 146,885 $ 109,577 Net Realized Gain (Loss) on: Investment Securities Sold....................... 262,739 274,964 462,894 467,388 51,551 48,730 Futures.......................................... -- 4,864 (12,757) 4,175 -- -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities............................ 116,751 903,746 404,462 2,087,253 1,034,068 1,549,261 ---------- ----------- ----------- ----------- ----------- ----------- Net Increase (Decrease) in Net Assets Resulting from Operations..................... 423,754 1,229,163 925,089 2,663,410 1,232,504 1,707,568 ---------- ----------- ----------- ----------- ----------- ----------- Distributions From: Net Investment Income: Class R1 Shares.................................. (80) (604) -- -- -- -- Class R2 Shares.................................. (330) (171) -- -- -- -- Institutional Class Shares....................... (37,254) (44,723) (63,952) (97,302) (135,714) (105,633) Net Short-Term Gains: Class R1 Shares.................................. (32) (162) -- -- -- -- Class R2 Shares.................................. (84) (43) -- -- -- -- Institutional Class Shares....................... (13,954) (9,669) (2,510) (15,668) -- -- Net Long-Term Gains: Class R1 Shares.................................. (544) (2,657) -- -- -- -- Class R2 Shares.................................. (1,417) (709) -- -- -- -- Institutional Class Shares....................... (235,328) (158,843) (443,795) (380,218) (34,892) -- ---------- ----------- ----------- ----------- ----------- ----------- Total Distributions............................ (289,023) (217,581) (510,257) (493,188) (170,606) (105,633) ---------- ----------- ----------- ----------- ----------- ----------- Capital Share Transactions (1): Shares Issued..................................... 1,893,177 1,069,213 2,936,905 1,700,691 3,297,271 2,012,312 Shares Issued in Lieu of Cash Distributions....... 271,172 193,793 463,121 448,519 161,062 95,895 Shares Redeemed................................... (921,922) (1,112,648) (1,829,533) (1,880,921) (1,305,580) (1,020,936) ---------- ----------- ----------- ----------- ----------- ----------- Net Increase (Decrease) from Capital Share Transactions............................ 1,242,427 150,358 1,570,493 268,289 2,152,753 1,087,271 ---------- ----------- ----------- ----------- ----------- ----------- Total Increase (Decrease) in Net Assets........ 1,377,158 1,161,940 1,985,325 2,438,511 3,214,651 2,689,206 Net Assets Beginning of Year................................. 4,213,749 3,051,809 9,526,981 7,088,470 7,566,179 4,876,973 ---------- ----------- ----------- ----------- ----------- ----------- End of Year....................................... $5,590,907 $ 4,213,749 $11,512,306 $ 9,526,981 $10,780,830 $ 7,566,179 ========== =========== =========== =========== =========== =========== (1) Shares Issued and Redeemed: Shares Issued..................................... 83,026 54,473 83,520 56,681 195,985 144,586 Shares Issued in Lieu of Cash Distributions....... 12,467 11,549 13,724 17,521 9,673 7,046 Shares Redeemed................................... (40,542) (56,250) (52,171) (64,686) (77,540) (73,616) ---------- ----------- ----------- ----------- ----------- ----------- Net Increase (Decrease) from Shares Issued and Redeemed.................................. 54,951 9,772 45,073 9,516 128,118 78,016 ========== =========== =========== =========== =========== =========== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)............................................ $ 6,119 $ 484 $ 3,960 $ 1,366 $ 19,703 $ 14,478 See accompanying Notes to Financial Statements. 120 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (Amounts in thousands) U.S. Vector U.S. Core Equity 2 Portfolio Equity Portfolio 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, 2014 2013 2014 2013 2014 2013 ----------- ----------- ---------- ---------- ----------- ---------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)................. $ 177,308 $ 146,563 $ 40,510 $ 36,935 $ 72,117 $ 76,179 Net Realized Gain (Loss) on: Investment Securities Sold................. 91,185 106,205 115,011 42,264 281,378 252,589 Futures.................................... -- -- -- (48) -- (331) Foreign Currency Transactions.............. -- -- -- -- -- 1 Change in Unrealized Appreciation (Depreciation) of: Investment Securities...................... 1,187,562 2,176,008 197,283 684,534 332,001 1,551,354 ----------- ----------- ---------- ---------- ----------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations................ 1,456,055 2,428,776 352,804 763,685 685,496 1,879,792 ----------- ----------- ---------- ---------- ----------- ---------- Distributions From: Net Investment Income: Institutional Class Shares................. (165,687) (143,640) (37,709) (34,959) (65,689) (74,990) Net Short-Term Gains: Institutional Class Shares................. (4,518) -- (1,492) -- (19,821) (8,279) Net Long-Term Gains: Institutional Class Shares................. (98,745) (55,772) (38,966) (3,507) (218,795) (228,672) ----------- ----------- ---------- ---------- ----------- ---------- Total Distributions....................... (268,950) (199,412) (78,167) (38,466) (304,305) (311,941) ----------- ----------- ---------- ---------- ----------- ---------- Capital Share Transactions (1): Shares Issued................................ 2,965,961 1,993,887 798,485 590,251 2,450,541 2,025,365 Shares Issued in Lieu of Cash Distributions............................... 265,683 194,014 77,784 37,851 285,840 287,893 Shares Redeemed.............................. (1,489,137) (1,351,685) (543,429) (468,656) (1,316,683) (997,627) ----------- ----------- ---------- ---------- ----------- ---------- Net Increase (Decrease) from Capital Share Transactions....................... 1,742,507 836,216 332,840 159,446 1,419,698 1,315,631 ----------- ----------- ---------- ---------- ----------- ---------- Total Increase (Decrease) in Net Assets................................... 2,929,612 3,065,580 607,477 884,665 1,800,889 2,883,482 Net Assets Beginning of Year............................ 9,989,564 6,923,984 2,893,842 2,009,177 7,446,827 4,563,345 ----------- ----------- ---------- ---------- ----------- ---------- End of Year.................................. $12,919,176 $ 9,989,564 $3,501,319 $2,893,842 $ 9,247,716 $7,446,827 =========== =========== ========== ========== =========== ========== (1) Shares Issued and Redeemed: Shares Issued................................ 178,876 145,060 48,426 43,824 80,252 76,522 Shares Issued in Lieu of Cash Distributions............................... 16,353 14,935 4,849 2,932 9,623 12,811 Shares Redeemed.............................. (89,926) (98,040) (33,059) (34,484) (43,155) (38,832) ----------- ----------- ---------- ---------- ----------- ---------- Net Increase (Decrease) from Shares Issued and Redeemed...................... 105,303 61,955 20,216 12,272 46,720 50,501 =========== =========== ========== ========== =========== ========== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)............................ $ 22,013 $ 14,455 $ 4,499 $ 3,096 $ 5,881 $ 3,164 See accompanying Notes to Financial Statements. 121 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (Amounts in thousands) DFA Real Estate Large Cap International U.S. Micro Cap Portfolio Securities 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, 2014 2013 2014 2013 2014 2013 ---------- ---------- ---------- ---------- ---------- ---------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss).................. $ 33,465 $ 46,722 $ 135,078 $ 103,396 $ 100,146 $ 68,706 Capital Gain Distributions Received from Investment Securities........................ -- -- -- 15,455 -- -- Net Realized Gain (Loss) on: Investment Securities Sold*................. 293,787 227,715 51,264 15,023 (5,883) (15,210) Futures..................................... (692) (423) (553) -- -- -- Foreign Currency Transactions............... -- -- -- -- (1,034) (394) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency................................... 40,078 1,117,408 857,969 254,603 (85,773) 476,010 Translation of Foreign Currency Denominated Amounts........................ -- -- -- -- (232) 154 ---------- ---------- ---------- ---------- ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations................. 366,638 1,391,422 1,043,758 388,477 7,224 529,266 ---------- ---------- ---------- ---------- ---------- ---------- Distributions From: Net Investment Income: Institutional Class Shares.................. (30,943) (46,915) (156,934) (102,731) (98,177) (70,787) Net Short-Term Gains: Institutional Class Shares.................. (12,783) -- -- -- -- -- Net Long-Term Gains: Institutional Class Shares.................. (200,738) (176,365) -- -- -- -- ---------- ---------- ---------- ---------- ---------- ---------- Total Distributions........................ (244,464) (223,280) (156,934) (102,731) (98,177) (70,787) ---------- ---------- ---------- ---------- ---------- ---------- Capital Share Transactions (1): Shares Issued................................. 732,739 605,885 1,531,390 1,428,666 711,014 631,372 Shares Issued in Lieu of Cash Distributions... 228,631 207,612 154,320 99,760 89,712 66,684 Shares Redeemed............................... (750,348) (723,766) (642,193) (853,143) (337,040) (457,180) ---------- ---------- ---------- ---------- ---------- ---------- Net Increase (Decrease) from Capital Share Transactions........................ 211,022 89,731 1,043,517 675,283 463,686 240,876 ---------- ---------- ---------- ---------- ---------- ---------- Total Increase (Decrease) in Net Assets.... 333,196 1,257,873 1,930,341 961,029 372,733 699,355 Net Assets Beginning of Year............................. 4,695,831 3,437,958 4,677,418 3,716,389 2,755,114 2,055,759 ---------- ---------- ---------- ---------- ---------- ---------- End of Year................................... $5,029,027 $4,695,831 $6,607,759 $4,677,418 $3,127,847 $2,755,114 ========== ========== ========== ========== ========== ========== (1) Shares Issued and Redeemed: Shares Issued................................. 37,333 36,865 53,449 51,717 31,887 31,421 Shares Issued in Lieu of Cash Distributions... 11,975 14,570 5,604 3,726 3,956 3,350 Shares Redeemed............................... (38,226) (43,945) (22,496) (30,873) (15,048) (22,837) ---------- ---------- ---------- ---------- ---------- ---------- Net Increase (Decrease) from Shares Issued and Redeemed....................... 11,082 7,490 36,557 24,570 20,795 11,934 ========== ========== ========== ========== ========== ========== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)............................. $ 2,541 $ 1,656 $ 23,541 $ 32,390 $ 7,583 $ 6,579 ---------- * Net of foreign capital gain taxes withheld of $0, $0, $0, $0, $0 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, 2014 2013 2014 2013 2014 2013 ----------- ----------- ----------- ----------- -------- --------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss).................. $ 335,306 $ 218,030 $ 194,864 $ 180,481 $ 5,501 $ 6,101 Net Realized Gain (Loss) on: Investment Securities Sold*................. (183,788) (10,392) 303,846 262,518 9,738 5,783 Futures..................................... -- -- (945) (29) -- -- Foreign Currency Transactions............... (1,661) (2,185) (909) (2,035) (118) (468) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency................................... (293,395) 1,736,462 (612,635) 1,540,906 (8,349) 94,197 Futures..................................... -- -- -- 30 -- -- Translation of Foreign Currency Denominated Amounts........................ (699) 312 (606) 438 (112) 26 ----------- ----------- ----------- ----------- -------- --------- Net Increase (Decrease) in Net Assets Resulting from Operations................. (144,237) 1,942,227 (116,385) 1,982,309 6,660 105,639 ----------- ----------- ----------- ----------- -------- --------- Distributions From: Net Investment Income: Institutional Class Shares.................. (320,068) (214,687) (190,299) (159,066) (11,539) (2,836) Net Short-Term Gains: Institutional Class Shares.................. -- -- (27,834) -- -- -- Net Long-Term Gains: Institutional Class Shares.................. -- -- (211,626) (39,012) -- -- ----------- ----------- ----------- ----------- -------- --------- Total Distributions........................ (320,068) (214,687) (429,759) (198,078) (11,539) (2,836) ----------- ----------- ----------- ----------- -------- --------- Capital Share Transactions (1): Shares Issued................................. 4,323,558 2,415,089 1,513,008 1,229,487 176,108 142,226 Shares Issued in Lieu of Cash Distributions... 309,979 206,673 418,230 188,769 10,648 2,638 Shares Redeemed............................... (1,383,156) (1,323,574) (1,061,294) (1,104,930) (87,819) (127,503) ----------- ----------- ----------- ----------- -------- --------- Net Increase (Decrease) from Capital Share Transactions........................ 3,250,381 1,298,188 869,944 313,326 98,937 17,361 ----------- ----------- ----------- ----------- -------- --------- Total Increase (Decrease) in Net Assets.... 2,786,076 3,025,728 323,800 2,097,557 94,058 120,164 Net Assets Beginning of Year............................. 9,508,466 6,482,738 8,520,717 6,423,160 414,132 293,968 ----------- ----------- ----------- ----------- -------- --------- End of Year................................... $12,294,542 $ 9,508,466 $ 8,844,517 $ 8,520,717 $508,190 $ 414,132 =========== =========== =========== =========== ======== ========= (1) Shares Issued and Redeemed: Shares Issued................................. 340,141 213,883 78,077 72,452 9,215 8,814 Shares Issued in Lieu of Cash Distributions... 23,911 18,646 22,420 11,691 579 173 Shares Redeemed............................... (108,799) (117,963) (54,917) (65,368) (4,681) (7,179) ----------- ----------- ----------- ----------- -------- --------- Net Increase (Decrease) from Shares Issued and Redeemed....................... 255,253 114,566 45,580 18,775 5,113 1,808 =========== =========== =========== =========== ======== ========= Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)............................. $ 40,713 $ 27,329 $ 36,226 $ 27,083 $ 2,523 $ 6,178 ---------- * Net of foreign capital gain taxes withheld of $0, $14, $0, $27, $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, 2014 2013 2014 2013 2014 2013 -------- -------- -------- -------- -------- -------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)........................... $ 13,132 $ 11,525 $ 952 $ 933 $ 3,584 $ 2,635 Net Realized Gain (Loss) on:........................... Investment Securities Sold*.......................... 227 (255) 2,353 2,545 5,664 2,298 Futures.............................................. -- -- -- -- (53) 29 Foreign Currency Transactions........................ -- 9 (4) -- (20) (3) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency........... (25,748) 17,462 (2,920) 7,107 (13,937) 41,299 Futures.............................................. -- -- -- -- -- (29) Translation of Foreign Currency Denominated Amounts............................................. (4) (1) (1) -- (9) 7 -------- -------- ------- ------- -------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations.................................... (12,393) 28,740 380 10,585 (4,771) 46,236 -------- -------- ------- ------- -------- -------- Distributions From: Net Investment Income: Institutional Class Shares........................... (12,860) (7,603) (919) (953) (3,660) (2,834) Net Long-Term Gains: Institutional Class Shares........................... -- -- (406) -- -- -- -------- -------- ------- ------- -------- -------- Total Distributions................................. (12,860) (7,603) (1,325) (953) (3,660) (2,834) -------- -------- ------- ------- -------- -------- Capital Share Transactions (1): Shares Issued.......................................... 80,887 96,294 5,784 2,464 23,560 32,191 Shares Issued in Lieu of Cash Distributions............ 12,189 7,183 1,013 729 3,003 2,141 Shares Redeemed........................................ (34,872) (31,639) (7,898) (7,045) (19,977) (13,244) -------- -------- ------- ------- -------- -------- Net Increase (Decrease) from Capital Share Transactions....................................... 58,204 71,838 (1,101) (3,852) 6,586 21,088 -------- -------- ------- ------- -------- -------- Total Increase (Decrease) in Net Assets............. 32,951 92,975 (2,046) 5,780 (1,845) 64,490 Net Assets Beginning of Year...................................... 331,166 238,191 37,096 31,316 170,806 106,316 -------- -------- ------- ------- -------- -------- End of Year............................................ $364,117 $331,166 $35,050 $37,096 $168,961 $170,806 ======== ======== ======= ======= ======== ======== (1) Shares Issued and Redeemed: Shares Issued.......................................... 3,484 4,135 151 78 1,098 1,806 Shares Issued in Lieu of Cash Distributions............ 549 309 27 24 133 128 Shares Redeemed........................................ (1,459) (1,362) (206) (224) (926) (834) -------- -------- ------- ------- -------- -------- Net Increase (Decrease) from Shares Issued and Redeemed........................................... 2,574 3,082 (28) (122) 305 1,100 ======== ======== ======= ======= ======== ======== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income) $ 7,045 $ 6,418 $ 106 $ 129 $ 119 $ 92 ---------- * Net of foreign capital gain taxes withheld of $0, $0, $0, $0, $1 and $1, 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 DFA Global Real Estate DFA International Small Estate Securities 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, 2014 2013 2014 2013 2014 2013 ---------- ---------- ---------- ---------- ----------- ----------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)................. $ 105,809 $ 72,994 $ 82,794 $ 84,342 $ 213,214 $ 208,592 Net Realized Gain (Loss) on: Investment Securities Sold*................ 3,629 (19,009) (2,790) (3,169) 220,979 179,935 Futures.................................... -- 888 -- -- -- -- Foreign Currency Transactions.............. (581) (860) -- -- (2,193) (2,311) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.................................. 99,706 105,321 305,008 60,459 (457,867) 2,722,774 Translation of Foreign Currency Denominated Amounts....................... (267) 18 -- -- (878) 666 ---------- ---------- ---------- ---------- ----------- ----------- Net Increase (Decrease) in Net Assets Resulting from Operations................ 208,296 159,352 385,012 141,632 (26,745) 3,109,656 ---------- ---------- ---------- ---------- ----------- ----------- Distributions From: Net Investment Income: Institutional Class Shares................. (106,263) (181,848) (72,036) (84,341) (201,006) (198,381) Net Short-Term Gains: Institutional Class Shares................. -- -- -- -- (38,805) -- Net Long-Term Gains: Institutional Class Shares................. -- -- -- -- (127,501) (117,102) ---------- ---------- ---------- ---------- ----------- ----------- Total Distributions....................... (106,263) (181,848) (72,036) (84,341) (367,312) (315,483) ---------- ---------- ---------- ---------- ----------- ----------- Capital Share Transactions (1): Shares Issued................................ 1,020,832 842,458 1,203,232 932,289 2,122,914 1,644,691 Shares Issued in Lieu of Cash Distributions.. 105,300 180,122 70,668 82,056 335,987 292,218 Shares Redeemed.............................. (298,766) (372,815) (364,111) (304,476) (1,528,972) (1,848,793) ---------- ---------- ---------- ---------- ----------- ----------- Net Increase (Decrease) from Capital Share Transactions....................... 827,366 649,765 909,789 709,869 929,929 88,116 ---------- ---------- ---------- ---------- ----------- ----------- Total Increase (Decrease) in Net Assets................................... 929,399 627,269 1,222,765 767,160 535,872 2,882,289 Net Assets Beginning of Year............................ 2,158,977 1,531,708 2,082,707 1,315,547 11,148,899 8,266,610 ---------- ---------- ---------- ---------- ----------- ----------- End of Year.................................. $3,088,376 $2,158,977 $3,305,472 $2,082,707 $11,684,771 $11,148,899 ========== ========== ========== ========== =========== =========== (1) Shares Issued and Redeemed: Shares Issued................................ 190,067 159,658 123,414 99,632 102,419 96,297 Shares Issued in Lieu of Cash Distributions.. 21,490 35,387 8,208 9,335 16,875 18,141 Shares Redeemed.............................. (56,784) (71,419) (37,911) (32,860) (74,184) (106,982) ---------- ---------- ---------- ---------- ----------- ----------- Net Increase (Decrease) from Shares Issued and Redeemed...................... 154,773 123,626 93,711 76,107 45,110 7,456 ========== ========== ========== ========== =========== =========== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income) $ (153,170) $ (147,973) $ 21,784 $ 11,624 $ 20,577 $ 15,456 ---------- * Net of foreign capital gain taxes withheld of $0, $7, $0, $0, $0 and $6, respectively. See accompanying Notes to Financial Statements. 125 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (Amounts in thousands) International Vector World ex U.S. Value World ex U.S. Targeted Equity Portfolio Portfolio Value Portfolio ---------------------- ------------------ --------------------- Period Nov. 1, Year Year Year Year Year 2012(a) Ended Ended Ended Ended Ended to Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2014 2013 2014 2013 ---------- ---------- -------- -------- -------- -------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)........................... $ 32,958 $ 18,816 $ 4,175 $ 2,186 $ 2,577 $ 1,009 Capital Gain Distributions Received from Affiliated Investment Companies.................................. -- -- 157 64 983 191 Net Realized Gain (Loss) on: Investment Securities Sold*........................... 14,492 8,277 1,007 3,077 (2,175) 947 Futures............................................... -- -- 1 (12) 1 1 Foreign Currency Transactions......................... (376) (71) (40) (14) (9) (3) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency............ (66,559) 172,846 (6,120) 13,382 (4,735) 11,646 Futures............................................... -- -- 1 (1) -- -- Translation of Foreign Currency Denominated Amounts.............................................. (93) 46 (12) (15) -- -- ---------- ---------- -------- -------- -------- ------- Net Increase (Decrease) in Net Assets Resulting from Operations.................................... (19,578) 199,914 (831) 18,667 (3,358) 13,791 ---------- ---------- -------- -------- -------- ------- Distributions From: Net Investment Income: Institutional Class Shares............................ (31,342) (17,456) (4,113) (2,334) (2,482) (993) Net Short-Term Gains: Institutional Class Shares............................ (571) -- -- -- (48) -- Net Long-Term Gains: Institutional Class Shares............................ (7,322) (2,044) -- -- (1,147) -- ---------- ---------- -------- -------- -------- ------- Total Distributions................................. (39,235) (19,500) (4,113) (2,334) (3,677) (993) ---------- ---------- -------- -------- -------- ------- Capital Share Transactions (1): Shares Issued.......................................... 399,996 419,905 10,506 53,066 99,296 87,917 Shares Issued in Lieu of Cash Distributions............ 38,822 18,898 4,102 2,232 3,678 993 Shares Redeemed........................................ (165,226) (89,842) (13,300) (11,241) (40,853) (5,698) ---------- ---------- -------- -------- -------- ------- Net Increase (Decrease) from Capital Share Transactions....................................... 273,592 348,961 1,308 44,057 62,121 83,212 ---------- ---------- -------- -------- -------- ------- Total Increase (Decrease) in Net Assets............. 214,779 529,375 (3,636) 60,390 55,086 96,010 Net Assets Beginning of Period.................................... 1,090,774 561,399 117,587 57,197 96,010 -- ---------- ---------- -------- -------- -------- ------- End of Period.......................................... $1,305,553 $1,090,774 $113,951 $117,587 $151,096 $96,010 ========== ========== ======== ======== ======== ======= (1) Shares Issued and Redeemed: Shares Issued.......................................... 33,823 39,490 889 4,923 7,921 8,136 Shares Issued in Lieu of Cash Distributions............ 3,246 1,856 340 209 299 90 Shares Redeemed........................................ (13,983) (8,665) (1,114) (1,036) (3,412) (522) ---------- ---------- -------- -------- -------- ------- Net Increase (Decrease) from Shares Issued and Redeemed........................................... 23,086 32,681 115 4,096 4,808 7,704 ========== ========== ======== ======== ======== ======= Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)..................... $ 4,680 $ 2,486 $ 343 $ 187 $ 218 $ 15 ---------- See page 1 for the Definitions of Abbreviations and Footnotes. * Net of foreign capital gain taxes withheld of $0, $0, $0, $0, $3 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 World Core Equity Selectively Hedged Equity Portfolio Portfolio Global Equity Portfolio ------------------ ---------------- ---------------------- Period April 9, Year 2013(a) Year Year Year Year Ended to Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2014 2013 2014 2013 -------- -------- -------- -------- -------- -------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)................... $ 6,084 $ 1,160 $ 341 $ 23 $ 2,127 $ 1,317 Capital Gain Distributions Received from Affiliated Investment Companies............... -- -- 3 -- 342 115 Net Realized Gain (Loss) on: Investment Securities Sold*................... (107) (30) 247 21 1,409 (81) Futures....................................... -- -- -- -- 572 545 Foreign Currency Transactions................. -- -- -- -- 1,469 237 Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.... (13,820) 11,720 (2,851) 228 1,003 12,814 Futures....................................... -- -- -- -- (82) 150 Translation of Foreign Currency Denominated Amounts...................................... -- -- -- -- 610 121 -------- -------- ------- ------- -------- ------- Net Increase (Decrease) in Net Assets Resulting from Operations................... (7,843) 12,850 (2,260) 272 7,450 15,218 -------- -------- ------- ------- -------- ------- Distributions From: Net Investment Income: Institutional Class Shares.................... (6,099) (1,171) (348) (23) (1,858) (330) Net Short-Term Gains: Institutional Class Shares.................... (64) -- (10) -- (281) (43) Net Long-Term Gains: Institutional Class Shares.................... -- -- (14) -- (539) (56) -------- -------- ------- ------- -------- ------- Total Distributions.......................... (6,163) (1,171) (372) (23) (2,678) (429) -------- -------- ------- ------- -------- ------- Capital Share Transactions (1): Shares Issued.................................. 312,847 125,005 79,069 2,383 71,131 43,832 Shares Issued in Lieu of Cash Distributions.... 6,153 1,169 372 23 2,678 429 Shares Redeemed................................ (28,066) (8,133) (2,830) (1,118) (22,653) (2,652) -------- -------- ------- ------- -------- ------- Net Increase (Decrease) from Capital Share Transactions.......................... 290,934 118,041 76,611 1,288 51,156 41,609 -------- -------- ------- ------- -------- ------- Total Increase (Decrease) in Net Assets...... 276,928 129,720 73,979 1,537 55,928 56,398 Net Assets Beginning of Period............................ 129,720 -- 1,728 191 91,348 34,950 -------- -------- ------- ------- -------- ------- End of Period.................................. $406,648 $129,720 $75,707 $ 1,728 $147,276 $91,348 ======== ======== ======= ======= ======== ======= (1) Shares Issued and Redeemed: Shares Issued.................................. 28,743 12,721 5,733 212 5,123 3,666 Shares Issued in Lieu of Cash Distributions.... 556 117 27 2 205 39 Shares Redeemed................................ (2,595) (790) (216) (97) (1,662) (217) -------- -------- ------- ------- -------- ------- Net Increase (Decrease) from Shares Issued and Redeemed......................... 26,704 12,048 5,544 117 3,666 3,488 ======== ======== ======= ======= ======== ======= Undistributed Net Investment Income (Distributions in Excess of Net Investment Income) $ (2) $ (1) $ -- $ -- $ 3,031 $ 1,390 Emerging Markets Portfolio ---------------------- Year Year Ended Ended Oct. 31, Oct. 31, 2014 2013 ---------- ---------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)................... $ 81,253 $ 61,645 Capital Gain Distributions Received from Affiliated Investment Companies............... -- -- Net Realized Gain (Loss) on: Investment Securities Sold*................... (24,604) 22,235 Futures....................................... -- -- Foreign Currency Transactions................. (658) (124) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.... 12,634 143,306 Futures....................................... -- -- Translation of Foreign Currency Denominated Amounts...................................... (12) (6) ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations................... 68,613 227,056 ---------- ---------- Distributions From: Net Investment Income: Institutional Class Shares.................... (77,881) (59,866) Net Short-Term Gains: Institutional Class Shares.................... -- -- Net Long-Term Gains: Institutional Class Shares.................... (21,358) (30,527) ---------- ---------- Total Distributions.......................... (99,239) (90,393) ---------- ---------- Capital Share Transactions (1): Shares Issued.................................. 1,057,534 1,304,374 Shares Issued in Lieu of Cash Distributions.... 92,820 84,860 Shares Redeemed................................ (701,770) (667,334) ---------- ---------- Net Increase (Decrease) from Capital Share Transactions.......................... 448,584 721,900 ---------- ---------- Total Increase (Decrease) in Net Assets...... 417,958 858,563 Net Assets Beginning of Period............................ 3,655,740 2,797,177 ---------- ---------- End of Period.................................. $4,073,698 $3,655,740 ========== ========== (1) Shares Issued and Redeemed: Shares Issued.................................. 40,611 50,466 Shares Issued in Lieu of Cash Distributions.... 3,453 3,233 Shares Redeemed................................ (26,688) (25,465) ---------- ---------- Net Increase (Decrease) from Shares Issued and Redeemed......................... 17,376 28,234 ========== ========== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income) $ 6,653 $ 6,855 ---------- See page 1 for the Definitions of Abbreviations and Footnotes. * Net of foreign capital gain taxes withheld of $0, $0, $0, $0, $0, $0, $0 and $0, 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 Emerging Markets Core Cap 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, 2014 2013 2014 2013 2014 2013 ---------- ---------- ----------- ----------- ----------- ----------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss).................. $ 89,085 $ 69,684 $ 447,291 $ 342,372 $ 302,880 $ 211,992 Net Realized Gain (Loss) on: Investment Securities Sold*.................. 98,856 64,325 (519,942) 296,735 (111,516) (9,977) Futures...................................... -- 452 499 -- -- -- Foreign Currency Transactions................ (968) (1,227) (4,493) (2,807) (2,722) (2,207) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.................................... 21,383 146,169 (179,006) 717,140 123,834 581,086 Futures...................................... (4) 4 -- -- -- -- Translation of Foreign Currency Denominated Amounts......................... (137) (42) (29) 7 (212) (79) ---------- ---------- ----------- ----------- ----------- ----------- Net Increase (Decrease) in Net Assets Resulting from Operations................. 208,215 279,365 (255,680) 1,353,447 312,264 780,815 ---------- ---------- ----------- ----------- ----------- ----------- Distributions From: Net Investment Income: Class R2 Shares.............................. -- -- (1,989) (1,837) -- -- Institutional Class Shares................... (83,100) (67,721) (405,752) (355,664) (287,956) (205,400) Net Short-Term Gains: Class R2 Shares.............................. -- -- (62) -- -- -- Institutional Class Shares................... -- (3,428) (11,122) -- -- -- Net Long-Term Gains: Class R2 Shares.............................. -- -- (1,472) (2,090) -- -- Institutional Class Shares................... (63,095) (92,100) (262,348) (342,441) -- -- ---------- ---------- ----------- ----------- ----------- ----------- Total Distributions........................ (146,195) (163,249) (682,745) (702,032) (287,956) (205,400) ---------- ---------- ----------- ----------- ----------- ----------- Capital Share Transactions (1): Shares Issued................................. 1,042,130 1,458,450 3,257,115 4,240,153 4,643,693 5,406,041 Shares Issued in Lieu of Cash Distributions... 135,989 142,712 647,473 656,583 266,070 187,871 Shares Redeemed............................... (421,399) (583,088) (3,488,728) (2,967,974) (2,227,486) (1,743,072) ---------- ---------- ----------- ----------- ----------- ----------- Net Increase (Decrease) from Capital Share Transactions........................ 756,720 1,018,074 415,860 1,928,762 2,682,277 3,850,840 ---------- ---------- ----------- ----------- ----------- ----------- Total Increase (Decrease) in Net Assets.... 818,740 1,134,190 (522,565) 2,580,177 2,706,585 4,426,255 Net Assets Beginning of Year............................. 4,041,863 2,907,673 19,268,907 16,688,730 13,020,962 8,594,707 ---------- ---------- ----------- ----------- ----------- ----------- End of Year................................... $4,860,603 $4,041,863 $18,746,342 $19,268,907 $15,727,547 $13,020,962 ========== ========== =========== =========== =========== =========== (1) Shares Issued and Redeemed: Shares Issued................................. 49,106 69,669 116,998 148,957 235,819 276,461 Shares Issued in Lieu of Cash Distributions... 6,569 6,956 23,036 22,991 12,932 9,689 Shares Redeemed............................... (20,277) (28,076) (124,198) (105,179) (113,406) (90,412) ---------- ---------- ----------- ----------- ----------- ----------- Net Increase (Decrease) from Shares Issued and Redeemed....................... 35,398 48,549 15,836 66,769 135,345 195,738 ========== ========== =========== =========== =========== =========== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)........................................ $ 7,565 $ 8,340 $ 37,443 $ 14,817 $ 28,530 $ 31,355 ---------- * Net of foreign capital gain taxes withheld of $1,357, $1, $0, $0, $960 and $0, respectively. See accompanying Notes to Financial Statements. 128 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (for a share outstanding throughout each period) Enhanced U.S. Large Company Portfolio ------------------------------------------------ Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2012 2011 2010 --------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................ $ 11.70 $ 9.29 $ 8.15 $ 7.53 $ 6.48 -------- -------- -------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.07 0.07 0.07 0.07 0.07 Net Gains (Losses) on Securities (Realized and Unrealized). 1.94 2.42 1.20 0.56 1.05 -------- -------- -------- -------- -------- Total from Investment Operations......................... 2.01 2.49 1.27 0.63 1.12 --------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.06) (0.08) (0.13) (0.01) (0.07) Net Realized Gains......................................... -- -- -- -- -- -------- -------- -------- -------- -------- Total Distributions...................................... (0.06) (0.08) (0.13) (0.01) (0.07) --------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period.............................. $ 13.65 $ 11.70 $ 9.29 $ 8.15 $ 7.53 =========================================================== ======== ======== ======== ======== ======== Total Return................................................ 17.18% 26.99% 15.84% 8.41% 17.40% --------------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)....................... $216,719 $212,840 $190,011 $171,128 $157,730 Ratio of Expenses to Average Net Assets..................... 0.23% 0.24% 0.25% 0.26% 0.26% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)........ 0.23% 0.24% 0.25% 0.26% 0.26% Ratio of Net Investment Income to Average Net Assets........ 0.55% 0.63% 0.80% 0.86% 0.98% Portfolio Turnover Rate..................................... 202% 139% 76% 140% 78% --------------------------------------------------------------------------------------------------------------- U.S. Large Cap Equity Portfolio ------------------- Period Year June 25, Ended 2013(a) to Oct. 31, Oct. 31, 2014 2013 --------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................ $ 11.07 $ 10.00 -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.21 0.06 Net Gains (Losses) on Securities (Realized and Unrealized). 1.57 1.04 -------- -------- Total from Investment Operations......................... 1.78 1.10 --------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.20) (0.03) Net Realized Gains......................................... -- -- -------- -------- Total Distributions...................................... (0.20) (0.03) --------------------------------------------------------------------------------------- Net Asset Value, End of Period.............................. $ 12.65 $ 11.07 =========================================================== ======== ========== Total Return................................................ 16.19% 11.01%(D) --------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)....................... $274,955 $135,407 Ratio of Expenses to Average Net Assets..................... 0.19% 0.19%(C)(E) Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)........ 0.20% 0.25%(C)(E) Ratio of Net Investment Income to Average Net Assets........ 1.75% 1.58%(C)(E) Portfolio Turnover Rate..................................... 1% 0%(D) --------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. 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, 2014 2013 2012 2011 --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................ $ 29.72 $ 22.34 $ 19.29 $ 18.58 ----------- ----------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.56 0.47 0.41 0.33 Net Gains (Losses) on Securities (Realized and Unrealized). 4.02 7.38 3.04 0.70 ----------- ----------- ---------- ---------- Total from Investment Operations......................... 4.58 7.85 3.45 1.03 --------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.55) (0.47) (0.40) (0.32) Net Realized Gains......................................... -- -- -- -- ----------- ----------- ---------- ---------- Total Distributions...................................... (0.55) (0.47) (0.40) (0.32) --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period.............................. $ 33.75 $ 29.72 $ 22.34 $ 19.29 =========================================================== =========== =========== ========== ========== Total Return................................................ 15.49% 35.52% 18.14% 5.53% --------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)....................... $15,146,981 $11,963,072 $8,334,585 $7,340,344 Ratio of Expenses to Average Net Assets..................... 0.27%(B) 0.27%(B) 0.27%(B) 0.28%(B) Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)........ 0.27%(B) 0.27%(B) 0.27%(B) 0.28%(B) Ratio of Net Investment Income to Average Net Assets........ 1.75% 1.82% 1.99% 1.63% --------------------------------------------------------------------------------------------------------------------------- ----------- Year Ended Oct. 31, 2010 --------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................ $ 15.81 ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.33 Net Gains (Losses) on Securities (Realized and Unrealized). 2.76 ---------- Total from Investment Operations......................... 3.09 --------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.32) Net Realized Gains......................................... -- ---------- Total Distributions...................................... (0.32) --------------------------------------------------------------------------- Net Asset Value, End of Period.............................. $ 18.58 =========================================================== ========== Total Return................................................ 19.72% --------------------------------------------------------------------------- Net Assets, End of Period (thousands)....................... $6,921,036 Ratio of Expenses to Average Net Assets..................... 0.28%(B) Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)........ 0.28%(B) Ratio of Net Investment Income to Average Net Assets........ 1.86% --------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. 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, 2014 2013 2012 2011 2010 ------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 22.63 $17.28 $ 15.32 $ 14.75 $ 11.73 ------- ------ ------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.18 0.27 0.15 0.10 0.07 Net Gains (Losses) on Securities (Realized and Unrealized). 1.86 6.28 2.06 0.60 3.07 ------- ------ ------- ------- ------- Total from Investment Operations.......................... 2.04 6.55 2.21 0.70 3.14 ------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.16) (0.22) (0.13) (0.10) (0.12) Net Realized Gains......................................... (1.32) (0.98) (0.12) (0.03) -- ------- ------ ------- ------- ------- Total Distributions....................................... (1.48) (1.20) (0.25) (0.13) (0.12) ------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 23.19 $22.63 $ 17.28 $ 15.32 $ 14.75 ============================================================= ======== ======== ======== ======== ======== Total Return................................................. 9.47% 40.39% 14.67% 4.69% 26.93% ------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $16,971 $9,470 $49,423 $45,132 $41,316 Ratio of Expenses to Average Net Assets...................... 0.47% 0.47% 0.48% 0.48% 0.49% Ratio of Net Investment Income to Average Net Assets......... 0.79% 1.42% 0.93% 0.61% 0.59% Portfolio Turnover Rate...................................... 10% 16% 20% 23% 20% ------------------------------------------------------------------------------------------------------------- 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, 2014 2013 2012 2011 2010 ------------------------------------------------------------------------------------------------------------ Net Asset Value, Beginning of Year........................... $ 22.57 $ 17.26 $ 15.31 $ 14.76 $11.74 ------- ------- ------- ------- ------ Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.15 0.19 0.13 0.07 0.05 Net Gains (Losses) on Securities (Realized and Unrealized). 1.84 6.31 2.05 0.60 3.07 ------- ------- ------- ------- ------ Total from Investment Operations.......................... 1.99 6.50 2.18 0.67 3.12 ------------------------------------------------------------------------------------------------------------ Less Distributions ------------------ Net Investment Income...................................... (0.12) (0.21) (0.11) (0.09) (0.10) Net Realized Gains......................................... (1.32) (0.98) (0.12) (0.03) -- ------- ------- ------- ------- ------ Total Distributions....................................... (1.44) (1.19) (0.23) (0.12) (0.10) ------------------------------------------------------------------------------------------------------------ Net Asset Value, End of Year................................. $ 23.12 $ 22.57 $ 17.26 $ 15.31 $14.76 ============================================================= ======== ======== ======== ======== ======== Total Return................................................. 9.30% 40.10% 14.46% 4.50% 26.66% ------------------------------------------------------------------------------------------------------------ Net Assets, End of Year (thousands).......................... $82,977 $23,305 $12,754 $10,918 $5,967 Ratio of Expenses to Average Net Assets...................... 0.62% 0.62% 0.63% 0.63% 0.64% Ratio of Net Investment Income to Average Net Assets......... 0.64% 0.95% 0.78% 0.42% 0.44% Portfolio Turnover Rate...................................... 10% 16% 20% 23% 20% ------------------------------------------------------------------------------------------------------------ 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, 2014 2013 2012 2011 2010 2014 ------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year................... $ 22.60 $ 17.28 $ 15.32 $ 14.76 $ 11.70 $ 34.48 ---------- ---------- ---------- ---------- ---------- ----------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................... 0.21 0.24 0.17 0.12 0.09 0.23 Net Gains (Losses) on Securities (Realized and Unrealized)....................................... 1.85 6.31 2.06 0.59 3.06 2.93 ---------- ---------- ---------- ---------- ---------- ----------- Total from Investment Operations.................. 2.06 6.55 2.23 0.71 3.15 3.16 ------------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income.............................. (0.18) (0.25) (0.15) (0.12) (0.09) (0.22) Net Realized Gains................................. (1.32) (0.98) (0.12) (0.03) -- (1.60) ---------- ---------- ---------- ---------- ---------- ----------- Total Distributions............................... (1.50) (1.23) (0.27) (0.15) (0.09) (1.82) ------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year......................... $ 23.16 $ 22.60 $ 17.28 $ 15.32 $ 14.76 $ 35.82 ===================================================== ========== ========== ========== ========== ========== =========== Total Return......................................... 9.58% 40.40% 14.78% 4.76% 27.02% 9.49% ------------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).................. $5,490,959 $4,180,974 $2,989,632 $2,487,929 $2,223,982 $11,512,306 Ratio of Expenses to Average Net Assets.............. 0.37% 0.37% 0.38% 0.38% 0.38% 0.52% Ratio of Net Investment Income to Average Net Assets. 0.90% 1.25% 1.03% 0.71% 0.69% 0.66% Portfolio Turnover Rate.............................. 10% 16% 20% 23% 20% 9% ------------------------------------------------------------------------------------------------------------------------------- U.S. Small 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 Year................... $ 26.57 $ 23.50 $ 22.49 $ 17.69 ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................... 0.39 0.20 0.16 0.09 Net Gains (Losses) on Securities (Realized and Unrealized)....................................... 9.41 3.38 1.00 4.79 ---------- ---------- ---------- ---------- Total from Investment Operations.................. 9.80 3.58 1.16 4.88 ----------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income.............................. (0.37) (0.18) (0.15) (0.08) Net Realized Gains................................. (1.52) (0.33) -- -- ---------- ---------- ---------- ---------- Total Distributions............................... (1.89) (0.51) (0.15) (0.08) ----------------------------------------------------------------------------------------------------- Net Asset Value, End of Year......................... $ 34.48 $ 26.57 $ 23.50 $ 22.49 ===================================================== ========== ========== ========== ========== Total Return......................................... 39.35% 15.60% 5.13% 27.69% ----------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).................. $9,526,981 $7,088,470 $6,540,863 $6,555,277 Ratio of Expenses to Average Net Assets.............. 0.52% 0.52% 0.52% 0.52% Ratio of Net Investment Income to Average Net Assets. 1.28% 0.78% 0.62% 0.43% Portfolio Turnover Rate.............................. 14% 15% 14% 19% ----------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. 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 Year Ended Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2012 2011 2010 2014 -------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year................... $ 15.74 $ 12.11 $ 10.78 $ 10.18 $ 8.54 $ 15.62 ----------- ---------- ---------- ---------- ---------- ----------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................... 0.27 0.25 0.21 0.17 0.15 0.26 Net Gains (Losses) on Securities (Realized and Unrealized)....................................... 2.02 3.62 1.32 0.59 1.61 1.86 ----------- ---------- ---------- ---------- ---------- ----------- Total from Investment Operations.................. 2.29 3.87 1.53 0.76 1.76 2.12 -------------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income.............................. (0.25) (0.24) (0.20) (0.16) (0.12) (0.24) Net Realized Gains................................. (0.07) -- -- -- -- (0.16) ----------- ---------- ---------- ---------- ---------- ----------- Total Distributions............................... (0.32) (0.24) (0.20) (0.16) (0.12) (0.40) -------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year......................... $ 17.71 $ 15.74 $ 12.11 $ 10.78 $ 10.18 $ 17.34 ===================================================== =========== ========== ========== ========== ========== =========== Total Return......................................... 14.72% 32.32% 14.29% 7.47% 20.80% 13.78% -------------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).................. $10,780,830 $7,566,179 $4,876,973 $3,731,411 $2,897,409 $12,919,176 Ratio of Expenses to Average Net Assets.............. 0.19% 0.19% 0.19% 0.20% 0.20% 0.22% Ratio of Net Investment Income to Average Net Assets. 1.61% 1.79% 1.79% 1.49% 1.53% 1.55% Portfolio Turnover Rate.............................. 5% 1% 3% 5% 4% 6% -------------------------------------------------------------------------------------------------------------------------------- U.S. Core Equity 2 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................... $ 11.99 $ 10.61 $ 10.06 $ 8.39 ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................... 0.24 0.20 0.16 0.14 Net Gains (Losses) on Securities (Realized and Unrealized)....................................... 3.73 1.36 0.54 1.64 ---------- ---------- ---------- ---------- Total from Investment Operations.................. 3.97 1.56 0.70 1.78 ----------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income.............................. (0.24) (0.18) (0.15) (0.11) Net Realized Gains................................. (0.10) -- -- -- ---------- ---------- ---------- ---------- Total Distributions............................... (0.34) (0.18) (0.15) (0.11) ----------------------------------------------------------------------------------------------------- Net Asset Value, End of Year......................... $ 15.62 $ 11.99 $ 10.61 $ 10.06 ===================================================== ========== ========== ========== ========== Total Return......................................... 33.66% 14.81% 6.98% 21.41% ----------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).................. $9,989,564 $6,923,984 $5,819,906 $4,990,367 Ratio of Expenses to Average Net Assets.............. 0.22% 0.22% 0.22% 0.23% Ratio of Net Investment Income to Average Net Assets. 1.74% 1.74% 1.42% 1.47% Portfolio Turnover Rate.............................. 3% 5% 9% 7% ----------------------------------------------------------------------------------------------------- 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 ---------------------------------------------------------- Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2012 2011 2010 ------------------------------------------------------------------------------------------------------------------------ Net Asset Value, Beginning of Year.......................... $ 15.62 $ 11.61 $ 10.28 $ 9.82 $ 8.03 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.21 0.20 0.16 0.12 0.10 Net Gains (Losses) on Securities (Realized and Unrealized). 1.62 4.03 1.32 0.46 1.79 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations......................... 1.83 4.23 1.48 0.58 1.89 ------------------------------------------------------------------------------------------------------------------------ Less Distributions ------------------ Net Investment Income...................................... (0.19) (0.20) (0.15) (0.12) (0.10) Net Realized Gains......................................... (0.22) (0.02) -- -- -- ---------- ---------- ---------- ---------- ---------- Total Distributions...................................... (0.41) (0.22) (0.15) (0.12) (0.10) ------------------------------------------------------------------------------------------------------------------------ Net Asset Value, End of Year................................ $ 17.04 $ 15.62 $ 11.61 $ 10.28 $ 9.82 =========================================================== ========== ========== ========== ========== ========== Total Return................................................ 11.91% 36.80% 14.55% 5.86% 23.65% ------------------------------------------------------------------------------------------------------------------------ Net Assets, End of Year (thousands)......................... $3,501,319 $2,893,842 $2,009,177 $1,851,895 $1,558,423 Ratio of Expenses to Average Net Assets..................... 0.32% 0.32% 0.32% 0.33% 0.33% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor)................................. 0.32% 0.32% 0.32% 0.33% 0.33% Ratio of Net Investment Income to Average Net Assets........ 1.26% 1.50% 1.45% 1.11% 1.13% Portfolio Turnover Rate..................................... 10% 3% 9% 10% 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 Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2012 2011 2010 -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 30.03 $ 23.11 $ 20.55 $ 19.06 $ 14.89 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.26 0.35 0.25 0.18 0.13 Net Gains (Losses) on Securities (Realized and Unrealized). 2.27 8.13 2.53 1.49 4.17 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations.......................... 2.53 8.48 2.78 1.67 4.30 -------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.24) (0.36) (0.22) (0.18) (0.13) Net Realized Gains......................................... (0.94) (1.20) -- -- -- ---------- ---------- ---------- ---------- ---------- Total Distributions....................................... (1.18) (1.56) (0.22) (0.18) (0.13) -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 31.38 $ 30.03 $ 23.11 $ 20.55 $ 19.06 ============================================================= ========== ========== ========== ========== ========== Total Return................................................. 8.67% 39.03% 13.61% 8.76% 28.99% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $9,247,716 $7,446,827 $4,563,345 $3,770,323 $3,391,457 Ratio of Expenses to Average Net Assets...................... 0.37% 0.37% 0.37% 0.37% 0.37% Ratio of Net Investment Income to Average Net Assets......... 0.86% 1.33% 1.14% 0.84% 0.76% Portfolio Turnover Rate...................................... 9% 10% 16% 23% 19% -------------------------------------------------------------------------------------------------------------------------- U.S. Micro Cap Portfolio ---------------------------------------------------------- Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2012 2011 2010 ------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 19.64 $ 14.84 $ 13.24 $ 12.25 $ 9.57 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.14 0.19 0.14 0.09 0.06 Net Gains (Losses) on Securities (Realized and Unrealized). 1.35 5.57 1.59 0.99 2.68 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations.......................... 1.49 5.76 1.73 1.08 2.74 ------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.13) (0.20) (0.13) (0.09) (0.06) Net Realized Gains......................................... (0.90) (0.76) -- -- -- ---------- ---------- ---------- ---------- ---------- Total Distributions....................................... (1.03) (0.96) (0.13) (0.09) (0.06) ------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 20.10 $ 19.64 $ 14.84 $ 13.24 $ 12.25 ============================================================= ========== ========== ========== ========== ========== Total Return................................................. 7.88% 41.34% 13.13% 8.85% 28.77% ------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $5,029,027 $4,695,831 $3,437,958 $3,257,719 $3,178,286 Ratio of Expenses to Average Net Assets...................... 0.52% 0.52% 0.52% 0.52% 0.52% Ratio of Net Investment Income to Average Net Assets......... 0.69% 1.16% 0.99% 0.69% 0.58% Portfolio Turnover Rate...................................... 12% 11% 15% 14% 9% ------------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. 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, 2014 2013 2012 2011 2010 -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 27.77 $ 25.83 $ 23.25 $ 21.24 $ 15.29 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.72 0.67 0.57 0.40 0.58 Net Gains (Losses) on Securities (Realized and Unrealized). 4.62 1.95 2.74 1.93 5.92 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations.......................... 5.34 2.62 3.31 2.33 6.50 -------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.87) (0.68) (0.73) (0.32) (0.55) ---------- ---------- ---------- ---------- ---------- Total Distributions....................................... (0.87) (0.68) (0.73) (0.32) (0.55) -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 32.24 $ 27.77 $ 25.83 $ 23.25 $ 21.24 ============================================================= ========== ========== ========== ========== ========== Total Return................................................. 19.80% 10.28% 14.45% 11.09% 43.21% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $6,607,759 $4,677,418 $3,716,389 $3,098,647 $2,689,552 Ratio of Expenses to Average Net Assets...................... 0.18% 0.18% 0.22% 0.32% 0.33% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)......... 0.19% 0.19% 0.23% 0.32% 0.33% Ratio of Net Investment Income to Average Net Assets......... 2.48% 2.42% 2.29% 1.76% 3.13% Portfolio Turnover Rate...................................... 0% 1% 0% 3% 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, 2014 2013 2012 2011 2010 -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 22.20 $ 18.33 $ 17.91 $ 19.42 $ 18.02 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.75 0.58 0.60 0.63 0.48 Net Gains (Losses) on Securities (Realized and Unrealized). (0.62) 3.90 0.40 (1.53) 1.43 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations.......................... 0.13 4.48 1.00 (0.90) 1.91 -------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.74) (0.61) (0.58) (0.61) (0.51) ---------- ---------- ---------- ---------- ---------- Total Distributions....................................... (0.74) (0.61) (0.58) (0.61) (0.51) -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 21.59 $ 22.20 $ 18.33 $ 17.91 $ 19.42 ============================================================= ========== ========== ========== ========== ========== Total Return................................................. 0.47% 24.85% 5.89% (4.86)% 10.99% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $3,127,847 $2,755,114 $2,055,759 $1,704,149 $1,616,686 Ratio of Expenses to Average Net Assets...................... 0.28% 0.29% 0.30% 0.30% 0.30% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)......... 0.28% 0.29% 0.30% 0.30% 0.30% Ratio of Net Investment Income to Average Net Assets......... 3.35% 2.90% 3.38% 3.19% 2.65% Portfolio Turnover Rate...................................... 4% 5% 4% 3% 7% -------------------------------------------------------------------------------------------------------------------------- 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, 2014 2013 2012 2011 2010 --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year.......................... $ 12.57 $ 10.10 $ 9.89 $ 10.78 $ 9.79 ----------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.38 0.31 0.31 0.33 0.23 Net Gains (Losses) on Securities (Realized and Unrealized). (0.43) 2.47 0.20 (0.89) 0.96 ----------- ---------- ---------- ---------- ---------- Total from Investment Operations......................... (0.05) 2.78 0.51 (0.56) 1.19 --------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.37) (0.31) (0.30) (0.33) (0.20) ----------- ---------- ---------- ---------- ---------- Total Distributions...................................... (0.37) (0.31) (0.30) (0.33) (0.20) --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................ $ 12.15 $ 12.57 $ 10.10 $ 9.89 $ 10.78 =========================================================== =========== ========== ========== ========== ========== Total Return................................................ (0.55)% 27.98% 5.49% (5.49)% 12.48% --------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)......................... $12,294,542 $9,508,466 $6,482,738 $5,395,884 $4,866,989 Ratio of Expenses to Average Net Assets..................... 0.38% 0.39% 0.40% 0.40% 0.40% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)........ 0.38% 0.39% 0.40% 0.40% 0.40% Ratio of Net Investment Income to Average Net Assets........ 3.01% 2.80% 3.18% 2.96% 2.31% Portfolio Turnover Rate..................................... 7% 3% 5% 3% 2% --------------------------------------------------------------------------------------------------------------------------- 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, 2014 2013 2012 2011 2010 ---------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year................................. $ 19.40 $ 15.28 $ 15.21 $ 16.14 $ 13.99 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................................. 0.42 0.42 0.38 0.40 0.28 Net Gains (Losses) on Securities (Realized and Unrealized)....... (0.62) 4.16 0.39 (0.83) 2.13 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations................................ (0.20) 4.58 0.77 (0.43) 2.41 ---------------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income............................................ (0.42) (0.37) (0.42) (0.50) (0.26) Net Realized Gains............................................... (0.54) (0.09) (0.28) -- -- ---------- ---------- ---------- ---------- ---------- Total Distributions............................................. (0.96) (0.46) (0.70) (0.50) (0.26) ---------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year....................................... $ 18.24 $ 19.40 $ 15.28 $ 15.21 $ 16.14 =================================================================== ========== ========== ========== ========== ========== Total Return....................................................... (1.09)% 30.66% 5.63% (2.92)% 17.61% ---------------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)................................ $8,844,517 $8,520,717 $6,423,160 $5,834,015 $5,511,594 Ratio of Expenses to Average Net Assets (B)........................ 0.53% 0.54% 0.56% 0.55% 0.56% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor) (B)...................................................... 0.53% 0.54% 0.56% 0.55% 0.56% Ratio of Net Investment Income to Average Net Assets............... 2.15% 2.47% 2.58% 2.37% 1.94% ---------------------------------------------------------------------------------------------------------------------------------- Japanese Small Company Portfolio ------------------------------------------------ Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2012 2011 2010 --------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year................................. $ 19.33 $ 14.99 $ 15.24 $ 14.13 $ 14.32 -------- -------- -------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................................. 0.24 0.26 0.29 0.27 0.22 Net Gains (Losses) on Securities (Realized and Unrealized)....... 0.13 4.21 (0.26) 1.08 (0.18) -------- -------- -------- -------- -------- Total from Investment Operations................................ 0.37 4.47 0.03 1.35 0.04 --------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income............................................ (0.55) (0.13) (0.28) (0.24) (0.23) Net Realized Gains............................................... -- -- -- -- -- -------- -------- -------- -------- -------- Total Distributions............................................. (0.55) (0.13) (0.28) (0.24) (0.23) --------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year....................................... $ 19.15 $ 19.33 $ 14.99 $ 15.24 $ 14.13 =================================================================== ======== ======== ======== ======== ======== Total Return....................................................... 2.00% 30.06% 0.20% 9.57% 0.33% --------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)................................ $508,190 $414,132 $293,968 $163,120 $114,933 Ratio of Expenses to Average Net Assets (B)........................ 0.55% 0.56% 0.57% 0.56% 0.57% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor) (B)...................................................... 0.55% 0.56% 0.57% 0.56% 0.57% Ratio of Net Investment Income to Average Net Assets............... 1.25% 1.51% 1.88% 1.74% 1.52% --------------------------------------------------------------------------------------------------------------------- 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, 2014 2013 2012 2011 2010 ----------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year.......................... $ 24.82 $ 23.22 $ 23.04 $ 25.64 $ 20.59 -------- -------- -------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.83 1.01 0.87 0.85 0.69 Net Gains (Losses) on Securities (Realized and Unrealized). (1.81) 1.37 0.58 (2.16) 4.99 -------- -------- -------- -------- -------- Total from Investment Operations......................... (0.98) 2.38 1.45 (1.31) 5.68 ----------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.96) (0.78) (1.27) (1.29) (0.63) Net Realized Gains......................................... -- -- -- -- -- -------- -------- -------- -------- -------- Total Distributions...................................... (0.96) (0.78) (1.27) (1.29) (0.63) ----------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................ $ 22.88 $ 24.82 $ 23.22 $ 23.04 $ 25.64 =========================================================== ======== ======== ======== ======== ======== Total Return................................................ (3.84)% 10.46% 7.09% (5.59)% 28.36% ----------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)......................... $364,117 $331,166 $238,191 $139,262 $131,511 Ratio of Expenses to Average Net Assets (B)................. 0.55% 0.57% 0.59% 0.60% 0.63% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor) (B)............................. 0.55% 0.57% 0.59% 0.60% 0.61% Ratio of Net Investment Income to Average Net Assets........ 3.53% 4.26% 3.91% 3.34% 3.14% ----------------------------------------------------------------------------------------------------------------- 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, 2014 2013 2012 2011 2010 ---------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year.......................... $ 36.96 $ 27.81 $ 23.44 $ 24.24 $ 19.83 ------- ------- ------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.95 0.88 0.69 0.82 0.50 Net Gains (Losses) on Securities (Realized and Unrealized). (0.65) 9.17 4.47 (0.85) 4.41 ------- ------- ------- ------- ------- Total from Investment Operations......................... 0.30 10.05 5.16 (0.03) 4.91 ---------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.93) (0.90) (0.79) (0.77) (0.50) Net Realized Gains......................................... (0.41) -- -- -- -- ------- ------- ------- ------- ------- Total Distributions...................................... (1.34) (0.90) (0.79) (0.77) (0.50) ---------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................ $ 35.92 $ 36.96 $ 27.81 $ 23.44 $ 24.24 =========================================================== ======== ======== ======== ======== ======== Total Return................................................ 0.73% 36.81% 22.82% (0.28)% 25.37% ---------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)......................... $35,050 $37,096 $31,316 $33,869 $33,751 Ratio of Expenses to Average Net Assets (B)................. 0.58% 0.59% 0.60% 0.60% 0.60% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor) (B)............................. 0.62% 0.63% 0.63% 0.62% 0.64% Ratio of Net Investment Income to Average Net Assets........ 2.50% 2.79% 2.83% 3.26% 2.39% ---------------------------------------------------------------------------------------------------------- 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, 2014 2013 2012 2011 2010 ------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 20.26 $ 14.51 $ 14.66 $ 16.93 $ 15.02 -------- -------- -------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.42 0.37 0.39 0.39 0.27 Net Gains (Losses) on Securities (Realized and Unrealized). (0.90) 5.78 (0.17) (2.20) 1.89 -------- -------- -------- -------- -------- Total from Investment Operations.......................... (0.48) 6.15 0.22 (1.81) 2.16 ------------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.44) (0.40) (0.37) (0.46) (0.25) -------- -------- -------- -------- -------- Total Distributions....................................... (0.44) (0.40) (0.37) (0.46) (0.25) ------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 19.34 $ 20.26 $ 14.51 $ 14.66 $ 16.93 ============================================================= ======== ======== ======== ======== ======== Total Return................................................. (2.68)% 42.99% 1.85% (11.09)% 14.85% ------------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $168,961 $170,806 $106,316 $117,452 $128,106 Ratio of Expenses to Average Net Assets...................... 0.56%(B) 0.58%(B) 0.59%(B) 0.58%(B) 0.59%(B) Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)......... 0.56%(B) 0.58%(B) 0.59%(B) 0.58%(B) 0.59%(B) Ratio of Net Investment Income to Average Net Assets......... 1.97% 2.16% 2.78% 2.25% 1.78% 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, 2014 2013 2012 2011 2010 ------------------------------------------------------------------------------------------------------------------------ Net Asset Value, Beginning of Year........................... $ 5.48 $ 5.67 $ 4.90 $ 5.58 $ 5.24 ---------- ---------- ---------- ---------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.22 0.22 0.27 0.30 0.31 Net Gains (Losses) on Securities (Realized and Unrealized). 0.19 0.25 0.75 (0.33) 0.58 ---------- ---------- ---------- ---------- -------- Total from Investment Operations.......................... 0.41 0.47 1.02 (0.03) 0.89 ------------------------------------------------------------------------------------------------------------------------ Less Distributions ------------------ Net Investment Income...................................... (0.26) (0.66) (0.25) (0.65) (0.55) ---------- ---------- ---------- ---------- -------- Total Distributions....................................... (0.26) (0.66) (0.25) (0.65) (0.55) ------------------------------------------------------------------------------------------------------------------------ Net Asset Value, End of Year................................. $ 5.63 $ 5.48 $ 5.67 $ 4.90 $ 5.58 ============================================================= ========== ========== ========== ========== ======== Total Return................................................. 8.21% 9.24% 22.34% (0.43)% 18.96% ------------------------------------------------------------------------------------------------------------------------ Net Assets, End of Year (thousands).......................... $3,088,376 $2,158,977 $1,531,708 $1,060,156 $958,554 Ratio of Expenses to Average Net Assets...................... 0.38% 0.39% 0.41% 0.42% 0.41% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)......... 0.38% 0.39% 0.41% 0.42% 0.41% Ratio of Net Investment Income to Average Net Assets......... 4.14% 4.07% 5.45% 5.73% 6.42% Portfolio Turnover Rate...................................... 1% 5% 3% 7% 6% ------------------------------------------------------------------------------------------------------------------------ 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, 2014 2013 2012 2011 2010 --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year................. $ 9.59 $ 9.33 $ 8.21 $ 8.28 $ 6.75 ---------- ---------- ---------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................. 0.31 0.49 0.29 0.41 0.40 Net Gains (Losses) on Securities (Realized and Unrealized)..................................... 1.05 0.37 1.07 0.06 1.60 ---------- ---------- ---------- -------- -------- Total from Investment Operations................ 1.36 0.86 1.36 0.47 2.00 --------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income............................ (0.32) (0.60) (0.24) (0.54) (0.47) Net Realized Gains............................... -- -- -- -- -- ---------- ---------- ---------- -------- -------- Total Distributions............................. (0.32) (0.60) (0.24) (0.54) (0.47) --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year....................... $ 10.63 $ 9.59 $ 9.33 $ 8.21 $ 8.28 =================================================== ========== ========== ========== ======== ======== Total Return....................................... 14.98% 9.74% 17.33% 6.17% 31.38% --------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)................ $3,305,472 $2,082,707 $1,315,547 $869,348 $695,461 Ratio of Expenses to Average Net Assets............ 0.32%(B) 0.32%(B) 0.34%(B) 0.41%(B) 0.41%(B) Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)............................. 0.55%(B) 0.55%(B) 0.60%(B) 0.73%(B) 0.73%(B) Ratio of Net Investment Income to Average Net Assets............................................ 3.21% 5.18% 3.38% 5.01% 5.59% 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, 2014 2013 2012 2011 2010 ------------------------------------------------------------------------------------------------------------------ Net Asset Value, Beginning of Year................. $ 20.17 $ 15.16 $ 14.85 $ 16.16 $ 14.92 ----------- ----------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................. 0.37 0.37 0.34 0.34 0.24 Net Gains (Losses) on Securities (Realized and Unrealized)..................................... (0.34) 5.21 0.61 (0.98) 1.22 ----------- ----------- ---------- ---------- ---------- Total from Investment Operations................ 0.03 5.58 0.95 (0.64) 1.46 ------------------------------------------------------------------------------------------------------------------ Less Distributions ------------------ Net Investment Income............................ (0.35) (0.36) (0.36) (0.38) (0.22) Net Realized Gains............................... (0.30) (0.21) (0.28) (0.29) -- ----------- ----------- ---------- ---------- ---------- Total Distributions............................. (0.65) (0.57) (0.64) (0.67) (0.22) ------------------------------------------------------------------------------------------------------------------ Net Asset Value, End of Year....................... $ 19.55 $ 20.17 $ 15.16 $ 14.85 $ 16.16 =================================================== =========== =========== ========== ========== ========== Total Return....................................... 0.13% 37.79% 6.92% (4.39)% 10.01% ------------------------------------------------------------------------------------------------------------------ Net Assets, End of Year (thousands)................ $11,684,771 $11,148,899 $8,266,610 $7,459,144 $7,655,318 Ratio of Expenses to Average Net Assets............ 0.68% 0.69% 0.71% 0.70% 0.70% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)............................. 0.68% 0.69% 0.71% 0.70% 0.70% Ratio of Net Investment Income to Average Net Assets............................................ 1.78% 2.16% 2.30% 2.05% 1.57% Portfolio Turnover Rate............................ 8% 9% 18% 16% 18% ------------------------------------------------------------------------------------------------------------------ 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, 2014 2013 2012 2011 2010 --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period.............................. $ 11.75 $ 9.33 $ 9.34 $ 10.28 $ 9.22 ---------- ---------- -------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................................ 0.32 0.26 0.27 0.29 0.18 Net Gains (Losses) on Securities (Realized and Unrealized)...... (0.43) 2.44 0.14 (0.87) 1.05 ---------- ---------- -------- -------- -------- Total from Investment Operations............................... (0.11) 2.70 0.41 (0.58) 1.23 --------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income........................................... (0.30) (0.25) (0.27) (0.29) (0.17) Net Realized Gains.............................................. (0.08) (0.03) (0.15) (0.07) -- ---------- ---------- -------- -------- -------- Total Distributions............................................ (0.38) (0.28) (0.42) (0.36) (0.17) --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period.................................... $ 11.26 $ 11.75 $ 9.33 $ 9.34 $ 10.28 ================================================================== ========== ========== ======== ======== ======== Total Return...................................................... (1.05)% 29.52% 4.90% (5.99)% 13.62% --------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)............................. $1,305,553 $1,090,774 $561,399 $410,580 $363,123 Ratio of Expenses to Average Net Assets........................... 0.49% 0.51% 0.54% 0.54% 0.54% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)................... 0.49% 0.51% 0.54% 0.54% 0.53% Ratio of Net Investment Income to Average Net Assets.............. 2.64% 2.51% 2.94% 2.73% 1.91% Portfolio Turnover Rate........................................... 8% 2% 5% 10% 5% --------------------------------------------------------------------------------------------------------------------------- World ex U.S. Value Portfolio ------------------------------------------------- Year Year Year Year Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2012 2011 --------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period.............................. $ 11.93 $ 9.94 $ 9.96 $ 11.35 -------- -------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................................ 0.42 0.29 0.29 0.30 Net Gains (Losses) on Securities (Realized and Unrealized)...... (0.50) 2.02 (0.05) (1.35) -------- -------- ------- ------- Total from Investment Operations............................... (0.08) 2.31 0.24 (1.05) --------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income........................................... (0.42) (0.32) (0.26) (0.26) Net Realized Gains.............................................. -- -- -- (0.08) -------- -------- ------- ------- Total Distributions............................................ (0.42) (0.32) (0.26) (0.34) --------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period.................................... $ 11.43 $ 11.93 $ 9.94 $ 9.96 ================================================================== ======== ======== ======== ======== Total Return...................................................... (0.81)% 23.61% 2.70% (9.59)% --------------------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)............................. $113,951 $117,587 $57,197 $47,165 Ratio of Expenses to Average Net Assets........................... 0.57%(B) 0.60%(B) 0.60%(B) 0.60%(B) Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)................... 0.76%(B) 0.76%(B) 0.84%(B) 0.91%(B) Ratio of Net Investment Income to Average Net Assets.............. 3.54% 2.61% 2.97% 2.64% Portfolio Turnover Rate........................................... N/A N/A N/A N/A --------------------------------------------------------------------------------------------------------------------- --------- Period Aug. 23, 2010(a) to Oct. 31, 2010 ------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period.............................. $ 10.00 ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................................ 0.02 Net Gains (Losses) on Securities (Realized and Unrealized)...... 1.33 ------- Total from Investment Operations............................... 1.35 ------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income........................................... -- Net Realized Gains.............................................. -- ------- Total Distributions............................................ -- ------------------------------------------------------------------------------------- Net Asset Value, End of Period.................................... $ 11.35 ================================================================== ========== Total Return...................................................... 13.50%(D) ------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)............................. $29,616 Ratio of Expenses to Average Net Assets........................... 0.90%(B)(C)(E) Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)................... 1.37%(B)(C)(E) Ratio of Net Investment Income to Average Net Assets.............. 0.76%(C)(E) Portfolio Turnover Rate........................................... 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 U.S. Targeted World ex U.S. Core Value Portfolio Equity Portfolio ------------------ -------------------- Period Period Year Nov. 1, Year April 9, Ended 2012(a) to Ended 2013(a) to Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2014 2013 ------------------------------------------------------------------------------------------------------------------ Net Asset Value, Beginning of Period........................ $ 12.46 $ 10.00 $ 10.77 $ 10.00 -------- ------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.23 0.20 0.28 0.18 Net Gains (Losses) on Securities (Realized and Unrealized). (0.22) 2.46 (0.27) 0.77 -------- ------- -------- -------- Total from Investment Operations......................... 0.01 2.66 0.01 0.95 ------------------------------------------------------------------------------------------------------------------ Less Distributions ------------------ Net Investment Income...................................... (0.24) (0.20) (0.28) (0.18) Net Realized Gains......................................... (0.15) -- (0.01) -- -------- ------- -------- -------- Total Distributions...................................... (0.39) (0.20) (0.29) (0.18) ------------------------------------------------------------------------------------------------------------------ Net Asset Value, End of Period.............................. $ 12.08 $ 12.46 $ 10.49 $ 10.77 =========================================================== ======== ========== ======== ========== Total Return................................................ 0.06% 26.90%(D) (0.04)% 9.62%(D) ------------------------------------------------------------------------------------------------------------------ Net Assets, End of Period (thousands)....................... $151,096 $96,010 $406,648 $129,720 Ratio of Expenses to Average Net Assets (B)(B).............. 0.69% 0.79%(C)(E) 0.47% 0.47%(C)(E) Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor) (B)(B).......................... 1.17% 1.27%(C)(E) 0.88% 0.97%(C)(E) Ratio of Net Investment Income to Average Net Assets........ 1.84% 1.78%(C)(E) 2.59% 3.12%(C)(E) ------------------------------------------------------------------------------------------------------------------ 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) World Core Equity Portfolio ------------------------- Year Period Year Ended March 7, Ended Oct. 2012(a) to Oct. 31, 31, Oct. 31, 2014 2013 2012 ------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................ $ 12.71 $10.24 $10.00 ------- ------ ------ Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.17 0.23 0.16 Net Gains (Losses) on Securities (Realized and Unrealized). 0.87 2.47 0.19 ------- ------ ------ Total from Investment Operations......................... 1.04 2.70 0.35 ------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.24) (0.23) (0.11) Net Realized Gains......................................... (0.18) -- (0.00) ------- ------ ------ Total Distributions...................................... (0.42) (0.23) (0.11) ------------------------------------------------------------------------------------------------- Net Asset Value, End of Period.............................. $ 13.33 $12.71 $10.24 =========================================================== ======== ====== ========== Total Return................................................ 8.36% 26.77% 3.54%(D) ------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)....................... $75,707 $1,728 $ 191 Ratio of Expenses to Average Net Assets (B)................. 0.35% 0.40% 0.40%(B)(C)(E) Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor) (B)............................. 0.97% 5.71% 52.27%(B)(C)(E) Ratio of Net Investment Income to Average Net Assets........ 1.27% 2.01% 2.40%(C)(E) ------------------------------------------------------------------------------------------------- Selectively Hedged Global Equity Portfolio --------------------------- Period Year Year Nov. 14, Ended Ended 2011(a) to Oct. 31, Oct. 31, Oct. 31, 2014 2013 2012 ----------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................ $ 13.63 $ 10.87 $ 10.00 -------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.27 0.24 0.22 Net Gains (Losses) on Securities (Realized and Unrealized). 0.76 2.65 0.87 -------- ------- ------- Total from Investment Operations......................... 1.03 2.89 1.09 ----------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.32) (0.10) (0.22) Net Realized Gains......................................... (0.14) (0.03) -- -------- ------- ------- Total Distributions...................................... (0.46) (0.13) (0.22) ----------------------------------------------------------------------------------------------- Net Asset Value, End of Period.............................. $ 14.20 $ 13.63 $ 10.87 =========================================================== ======== ======== ========== Total Return................................................ 7.83% 26.86% 11.11%(D) ----------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)....................... $147,276 $91,348 $34,950 Ratio of Expenses to Average Net Assets (B)................. 0.40% 0.40% 0.40%(C)(E) Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor) (B)............................. 0.69% 0.72% 1.00%(C)(E) Ratio of Net Investment Income to Average Net Assets........ 1.94% 1.93% 2.13%(C)(E) ----------------------------------------------------------------------------------------------- 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 Portfolio ----------------------------------------------------------- Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2012 2011 2010 -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year.......................... $ 26.97 $ 26.06 $ 26.68 $ 30.90 $ 25.23 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.56 0.52 0.55 0.61 0.48 Net Gains (Losses) on Securities (Realized and Unrealized). (0.20) 1.17 0.37 (2.53) 6.07 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations......................... 0.36 1.69 0.92 (1.92) 6.55 -------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.53) (0.50) (0.50) (0.53) (0.46) Net Realized Gains......................................... (0.16) (0.28) (1.04) (1.77) (0.42) ---------- ---------- ---------- ---------- ---------- Total Distributions...................................... (0.69) (0.78) (1.54) (2.30) (0.88) -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................ $ 26.64 $ 26.97 $ 26.06 $ 26.68 $ 30.90 =========================================================== ========== ========== ========== ========== ========== Total Return................................................ 1.33% 6.58% 4.08% (6.82)% 26.53% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)......................... $4,073,698 $3,655,740 $2,797,177 $2,313,035 $2,372,498 Ratio of Expenses to Average Net Assets (B)................. 0.56% 0.57% 0.61% 0.61% 0.60% Ratio of Net Investment Income to Average Net Assets........ 2.11% 1.97% 2.14% 2.07% 1.76% -------------------------------------------------------------------------------------------------------------------------- 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, 2014 2013 2012 2011 2010 ------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year.......................... $ 21.10 $ 20.33 $ 19.85 $ 24.26 $ 17.45 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.43 0.40 0.40 0.42 0.34 Net Gains (Losses) on Securities (Realized and Unrealized). 0.62 1.37 0.83 (3.67) 6.79 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations......................... 1.05 1.77 1.23 (3.25) 7.13 ------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.40) (0.39) (0.35) (0.40) (0.32) Net Realized Gains......................................... (0.33) (0.61) (0.40) (0.76) -- ---------- ---------- ---------- ---------- ---------- Total Distributions...................................... (0.73) (1.00) (0.75) (1.16) (0.32) ------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................ $ 21.42 $ 21.10 $ 20.33 $ 19.85 $ 24.26 =========================================================== ========== ========== ========== ========== ========== Total Return................................................ 5.12% 8.92% 6.71% (14.03)% 41.33% ------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)......................... $4,860,603 $4,041,863 $2,907,673 $1,832,745 $1,833,038 Ratio of Expenses to Average Net Assets (B)................. 0.72% 0.75% 0.82% 0.79% 0.78% Ratio of Net Investment Income to Average Net Assets........ 2.02% 1.91% 2.01% 1.86% 1.70% ------------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 145 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, 2014 2013 2012 2011 2010 ---------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year..................... $ 29.27 $ 28.21 $ 29.02 $ 36.35 $ 46.84 ------- -------- ------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)...................... 0.59 0.47 0.50 0.20 0.56 Net Gains (Losses) on Securities (Realized and Unrealized)......................................... (1.10) 1.68 (0.45) (5.45) 9.18 ------- -------- ------- ------- ------- Total from Investment Operations.................... (0.51) 2.15 0.05 (5.25) 9.74 ---------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income................................. (0.55) (0.50) (0.47) (0.45) (7.12) Net Realized Gains.................................... (0.42) (0.59) (0.39) (1.63) (13.11) ------- -------- ------- ------- ------- Total Distributions................................. (0.97) (1.09) (0.86) (2.08) (20.23) ---------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year........................... $ 27.79 $ 29.27 $ 28.21 $ 29.02 $ 36.35 ====================================================== ======== ======== ======== ======== ======== Total Return........................................... (1.75)% 7.75% 0.43% (15.24)% 29.71% ---------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).................... $99,066 $106,070 $99,111 $78,157 $39,668 Ratio of Expenses to Average Net Assets (B)............ 0.80% 0.82% 0.86% 0.86% 0.86% Ratio of Net Investment Income to Average Net Assets... 2.09% 1.65% 1.78% 1.56% 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, 2014 2013 2012 2011 2010 -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year..................... $ 29.28 $ 28.22 $ 29.02 $ 36.27 $ 28.90 ----------- ----------- ----------- ----------- ----------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)...................... 0.66 0.55 0.57 0.64 0.45 Net Gains (Losses) on Securities (Realized and Unrealized)......................................... (1.10) 1.67 (0.44) (5.72) 8.01 ----------- ----------- ----------- ----------- ----------- Total from Investment Operations.................... (0.44) 2.22 0.13 (5.08) 8.46 -------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income................................. (0.61) (0.57) (0.54) (0.54) (0.39) Net Realized Gains.................................... (0.42) (0.59) (0.39) (1.63) (0.70) ----------- ----------- ----------- ----------- ----------- Total Distributions................................. (1.03) (1.16) (0.93) (2.17) (1.09) -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year........................... $ 27.81 $ 29.28 $ 28.22 $ 29.02 $ 36.27 ====================================================== =========== =========== =========== =========== =========== Total Return........................................... (1.51)% 8.01% 0.70% (14.84)% 30.04% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).................... $18,647,276 $19,162,837 $16,589,619 $13,730,213 $11,542,870 Ratio of Expenses to Average Net Assets (B)............ 0.55% 0.57% 0.61% 0.61% 0.60% Ratio of Net Investment Income to Average Net Assets... 2.35% 1.91% 2.03% 1.88% 1.40% -------------------------------------------------------------------------------------------------------------------------- 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. 146 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, 2014 2013 2012 2011 2010 --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year.......................... $ 20.09 $ 19.00 $ 18.73 $ 21.31 $ 16.49 ----------- ----------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.42 0.39 0.41 0.43 0.30 Net Gains (Losses) on Securities (Realized and Unrealized). (0.03) 1.07 0.23 (2.65) 4.81 ----------- ----------- ---------- ---------- ---------- Total from Investment Operations......................... 0.39 1.46 0.64 (2.22) 5.11 --------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.40) (0.37) (0.37) (0.36) (0.29) ----------- ----------- ---------- ---------- ---------- Total Distributions...................................... (0.40) (0.37) (0.37) (0.36) (0.29) --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................ $ 20.08 $ 20.09 $ 19.00 $ 18.73 $ 21.31 =========================================================== =========== =========== ========== ========== ========== Total Return................................................ 1.89% 7.75% 3.55% (10.59)% 31.30% --------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)......................... $15,727,547 $13,020,962 $8,594,707 $5,367,473 $4,179,882 Ratio of Expenses to Average Net Assets..................... 0.61% 0.63% 0.68% 0.67% 0.65% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)........ 0.61% 0.63% 0.68% 0.68% 0.65% Ratio of Net Investment Income to Average Net Assets........ 2.10% 1.97% 2.18% 2.04% 1.63% Portfolio Turnover Rate..................................... 2% 1% 1% 1% 4% --------------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 147 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-seven operational portfolios, of which thirty-one (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. World Core Equity Portfolio invests in six portfolios within the Fund, Dimensional Investment Group Inc. ("DIG") and DFAITC. Selectively Hedged Global Equity Portfolio invests in three portfolios within the Fund. Percentage Ownership Feeder Funds Master Funds at 10/31/14 ------------ ------------ ----------- U.S. Large Cap Value Portfolio The U.S. Large Cap Value Series 82% Japanese Small Company Portfolio The Japanese Small Company Series 20% Asia Pacific Small Company Portfolio The Asia Pacific Small Company Series 25% 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 80% The United Kingdom Small Company Series 98% The Asia Pacific Small Company Series 75% The Canadian Small Company Series 98% DFA Global Real Estate Securities Portfolio DFA Real Estate Securities Portfolio 31% DFA International Real Estate Securities Portfolio 41% 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 3% Emerging Markets Core Equity Portfolio 1% World Core Equity Portfolio U.S. Core Equity 1 Portfolio --* U.S. Large Company Portfolio --* Large Cap International Portfolio --* International Core Equity Portfolio --* Emerging Markets Core Equity Portfolio --* 148 Percentage Ownership Fund of Funds Master Funds at 10/31/14 ------------- ------------ ----------- The Emerging Markets Series --* 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%. 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, World 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 and Selectively Hedged Global Equity Portfolio engage 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 June 27, 2014, the Dimensional Retirement Equity Fund II changed its name to the World Core Equity Portfolio. 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 ask prices which approximates fair value. Price information on listed securities is taken from the exchange where the security is primarily traded. Generally, 149 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, 2:00 a.m. ET), which is fourteen hours before the close of the NYSE (normally, 4:00 p.m. ET) 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 shares of The DFA International Value Series and DEM), World ex U.S. Targeted Value Portfolio (except shares of The Emerging Markets Small Cap Series and DEM), World ex U.S. Core Equity Portfolio, World Core Equity Portfolio (except shares of The Emerging Markets Series), 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, World ex U.S. Targeted Value 150 Portfolio and World Core Equity 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. For the year ended October 31, 2014, there were no significant transfers between Level 1 and Level 2 and no significant Level 3 investments held by the Portfolios. 2. Foreign Currency Translation: Securities and other assets and liabilities of the Fixed Income Portfolio, the International Equity Portfolios and Selectively Hedged Global 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. The Fixed Income 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, the Fixed Income Portfolio and Selectively Hedged Global Equity Portfolio do 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, Fixed Income Portfolio and Selectively Hedged Global Equity 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, 2014, 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 151 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 and International Small Company Portfolio, including supervision of services provided by others, providing information to shareholders and the Board, and other administrative services. For the year ended October 31, 2014, 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% 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% 152 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% World Core Equity Portfolio................. 0.30% Selectively Hedged Global Equity Portfolio.. 0.30% Emerging Markets Core Equity Portfolio...... 0.55% For the year ended October 31, 2014, 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, U.S. Micro Cap Portfolio and International Small Company 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% * Prior to February 28, 2014, the Portfolios and the U.S. Targeted Value Portfolio each were provided administrative services under an administrative agreement. Effective February 28, 2014, the administrative agreement and investment advisory agreement for each of these Portfolios were combined into an investment management agreement that provides for an investment management fee, equal to each Portfolio's previous investment advisory services fee and administrative services fee, payable to the Advisor for both investment advisory services and administrative services. Further, on December 13, 2013, the Board of the Fund voted to approve the combination of the Investment Advisory Agreement and the Administration Agreement (together, the "Previous Agreements") into a bundled Investment Management Agreement for 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. The Investment Management Agreements became effective on February 28, 2014. The nature and level of services to each Portfolio under the Investment Management Agreements are the same as under the Previous Agreements. As of February 28, 2014, the Portfolios pay the Advisor an investment management fee that is equal to the sum of the previous investment advisory and administration fees that were paid by each Portfolio to the Advisor under the Previous Agreements. 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, 2015, and may only be terminated by the Fund's Board of Directors prior to that date. The Fee Waiver Agreement shall continue in effect from year to year thereafter unless terminated by the Fund or the Advisor. For the year ended October 31, 2014, 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). 153 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 Institutional Class Shares Amount Expenses Assumed Recovery -------------------------- ---------- ---------------- ----------------- U.S. Large Cap Equity Portfolio (1)............. 0.19% $ 2 $ 53 U.S. Targeted Value Portfolio (2)............... 0.50% -- -- U.S. Core Equity 1 Portfolio (1)................ 0.23% -- -- U.S. Core Equity 2 Portfolio (1)................ 0.26% -- -- U.S. Vector Equity Portfolio (1)................ 0.36% -- -- DFA Real Estate Securities Portfolio (1)........ 0.18% -- 1,237 International Core Equity Portfolio (1)......... 0.49% -- -- International Small Company Portfolio (3)....... 0.45% -- -- Japanese Small Company Portfolio (4)............ 0.47% -- -- Asia Pacific Small Company Portfolio (4)........ 0.47% -- -- United Kingdom Small Company Portfolio (4)...... 0.47% -- 36 Continental Small Company Portfolio (4)......... 0.47% -- -- DFA International Real Estate Securities Portfolio (1)................................. 0.65% -- -- DFA Global Real Estate Securities Portfolio (5). 0.32% -- 12,371 International Vector Equity Portfolio (1)....... 0.60% -- -- World ex U.S. Value Portfolio (6)............... 0.60% 51 554 World ex U.S. Targeted Value Portfolio (7)...... 0.80% -- 938 World ex U.S. Core Equity Portfolio (8)......... 0.47% -- 1,123 World Core Equity Portfolio (9)................. 0.35% -- 126 Selectively Hedged Global Equity Portfolio (10). 0.40% 41 628 Emerging Markets Core Equity Portfolio (1)...... 0.85% -- -- Class R1 Shares --------------- U.S. Targeted Value Portfolio (11).............. 0.62% -- -- Class R2 Shares --------------- U.S. Targeted Value Portfolio (11).............. 0.77% -- -- Emerging Markets Value Portfolio (12)........... 0.96% -- -- (1) 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. (2) The Advisor has contractually agreed to waive its management 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 154 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. (3) 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. (4) 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. 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. (5) 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 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 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 its Master Funds 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. (6) 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 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") to 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 155 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. (7) 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, 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. (8) 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 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, 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) Effective June 27, 2014, 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 (including the 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 assume the expenses of a class of the 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 a class of the Portfolio so that such Portfolio Expenses do not exceed 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 shares of 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 annualized Portfolio Expenses for such class of shares of the Portfolio to exceed the applicable Expense Limitation Amount. Prior to June 27, 2014, the Advisor 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 (including the 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 also agreed to assume the expenses of a class of the 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 did not exceed 0.40% of the average net assets of such class of the Portfolio on an annualized basis. (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 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 the Portfolio to 156 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 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 reduce all or a portion of its management fee and to assume the direct and indirect expenses of the Class R1 shares and Class R2 shares of the Portfolio (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 the Class R1 shares and Class R2 shares of the Portfolio to the rate listed above for such class of shares as a percentage of average net assets (the "Expense Limitation Amount"). At any time that the Portfolio Expenses of the Class R1 shares or Class R2 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. (12) 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 of the Class R2 shares of the Portfolio (excluding the expenses the Portfolio incurs indirectly through investment in other investment companies) ("Portfolio Expenses") 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 Class R2 shares 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 annualized Portfolio Expenses of the Class R2 shares of the Portfolio 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, 2014, expenses reduced were as follows (amounts in thousands): Fees Paid Indirectly - ---------- Enhanced U.S. Large Company Portfolio.............. $ 2 Large Cap International Portfolio.................. 9 International Core Equity Portfolio................ 49 DFA International Real Estate Securities Portfolio. 14 DFA International Small Cap Value Portfolio........ 16 International Vector Equity Portfolio.............. 4 World ex U.S. Value Portfolio...................... -- World ex U.S. Targeted Value Portfolio............. -- World ex U.S. Core Equity Portfolio................ 1 Emerging Markets Core Equity Portfolio............. 75 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, 2014, the total related amounts paid by 157 the Fund to the CCO were $262 (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, 2014, 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.............. $ 8 U.S. Large Cap Equity Portfolio.................... 1 U.S. Large Cap Value Portfolio..................... 315 U.S. Targeted Value Portfolio...................... 92 U.S. Small Cap Value Portfolio..................... 288 U.S. Core Equity 1 Portfolio....................... 142 U.S. Core Equity 2 Portfolio....................... 221 U.S. Vector Equity Portfolio....................... 67 U.S. Small Cap Portfolio........................... 154 U.S. Micro Cap Portfolio........................... 143 DFA Real Estate Securities Portfolio............... 114 Large Cap International Portfolio.................. 72 International Core Equity Portfolio................ 207 International Small Company Portfolio.............. 219 Japanese Small Company Portfolio................... 9 Asia Pacific Small Company Portfolio............... 6 United Kingdom Small Company Portfolio............. 1 Continental Small Company Portfolio................ 5 DFA International Real Estate Securities Portfolio. 43 DFA Global Real Estate Securities Portfolio........ 32 DFA International Small Cap Value Portfolio........ 321 International Vector Equity Portfolio.............. 17 World ex U.S. Value Portfolio...................... 1 World ex U.S. Targeted Value Portfolio............. 1 World ex U.S. Core Equity Portfolio................ 1 World Core Equity Portfolio........................ -- Selectively Hedged Global Equity Portfolio......... 1 Emerging Markets Portfolio......................... 98 Emerging Markets Small Cap Portfolio............... 75 Emerging Markets Value Portfolio................... 424 Emerging Markets Core Equity Portfolio............. 207 E. Purchases and Sales of Securities: For the year ended October 31, 2014, 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. $284,240 $284,126 $ 136,465 $130,055 U.S. Large Cap Equity Portfolio....... -- -- 105,635 2,673 U.S. Targeted Value Portfolio......... -- -- 1,600,291 468,623 U.S. Small Cap Value Portfolio........ -- -- 2,314,774 933,389 U.S. Core Equity 1 Portfolio.......... -- -- 2,642,774 444,763 U.S. Core Equity 2 Portfolio.......... -- -- 2,417,443 694,222 U.S. Vector Equity Portfolio.......... -- -- 642,248 313,857 158 U.S. Government Other Investment Securities Securities --------------- ------------------- Purchases Sales Purchases Sales --------- ----- ---------- -------- U.S. Small Cap Portfolio........................... -- -- $2,066,573 $719,322 U.S. Micro Cap Portfolio........................... -- -- 719,550 558,944 DFA Real Estate Securities Portfolio............... -- -- 1,106,381 8,256 Large Cap International Portfolio.................. -- -- 567,276 118,540 International Core Equity Portfolio................ -- -- 4,016,566 748,175 DFA International Real Estate Securities Portfolio. -- -- 846,116 29,337 DFA International Small Cap Value Portfolio........ -- -- 1,840,016 913,850 International Vector Equity Portfolio.............. -- -- 367,063 96,902 Emerging Markets Core Equity Portfolio............. -- -- 3,024,471 327,277 For the year ended October 31, 2014, 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 10/31/2013 10/31/2014 Purchases Sales Income Realized Gains ------------------------------- ---------- ---------- --------- ------- -------- ---------------- DFA Real Estate Securities Portfolio..... $1,235,206 $2,044,932 $564,393 $14,000 $43,175 -- DFA International Real Estate Securities Portfolio.............................. 842,644 1,255,234 382,205 12,500 41,160 -- ---------- ---------- -------- ------- ------- ---- Total.................................... $2,077,850 $3,300,166 $946,598 $26,500 $84,335 -- ========== ========== ======== ======= ======= ==== World ex U.S. Value Portfolio ----------------------------------------------------------------- Balance at Balance at Dividend Distributions of Affiliated Investment Companies 10/31/2013 10/31/2014 Purchases Sales Income Realized Gains ------------------------------- ---------- ---------- --------- ------- -------- ---------------- DFA International Small Cap Value Portfolio.............................. $ 10,626 $ 9,588 $ 1,893 $ 2,663 $ 182 $157 World ex U.S. Targeted Value Portfolio ----------------------------------------------------------------- Balance at Balance at Dividend Distributions of Affiliated Investment Companies 10/31/2013 10/31/2014 Purchases Sales Income Realized Gains ------------------------------- ---------- ---------- --------- ------- -------- ---------------- DFA International Small Cap Value Portfolio.............................. $ 59,508 $ 93,592 $ 52,059 $12,519 $ 1,360 $919 International Vector Equity Portfolio.... 8,639 13,571 7,607 1,786 320 64 ---------- ---------- -------- ------- ------- ---- Total.................................... $ 68,147 $ 107,163 $ 59,666 $14,305 $ 1,680 $983 ========== ========== ======== ======= ======= ==== World ex U.S. Core Equity Portfolio ----------------------------------------------------------------- Balance at Balance at Dividend Distributions of Affiliated Investment Companies 10/31/2013 10/31/2014 Purchases Sales Income Realized Gains ------------------------------- ---------- ---------- --------- ------- -------- ---------------- International Core Equity Portfolio...... $ 99,732 $ 312,519 $235,743 $ 8,931 $ 5,073 -- Emerging Markets Core Equity Portfolio... 29,703 93,258 66,717 3,258 1,097 -- ---------- ---------- -------- ------- ------- ---- Total.................................... $ 129,435 $ 405,777 $302,460 $12,189 $ 6,170 -- ========== ========== ======== ======= ======= ==== World Core Equity Portfolio ----------------------------------------------------------------- Balance at Balance at Dividend Distributions of Affiliated Investment Companies 10/31/2013 10/31/2014 Purchases Sales Income Realized Gains ------------------------------- ---------- ---------- --------- ------- -------- ---------------- U.S. Core Equity 1 Portfolio............. $ 639 $ 38,342 $ 38,394 $ 1,100 $ 143 $ 3 International Core Equity Portfolio...... 96 29,208 32,105 178 120 -- Emerging Markets Core Equity Portfolio... 30 8,097 8,546 189 70 -- Large Cap International Portfolio........ 258 -- 322 595 8 -- U.S. Large Company Portfolio............. 641 -- 761 1,477 10 -- ---------- ---------- -------- ------- ------- ---- Total.................................... $ 1,664 $ 75,647 $ 80,128 $ 3,539 $ 351 $ 3 ========== ========== ======== ======= ======= ==== 159 Selectively Hedged Global Equity Portfolio ----------------------------------------------------------------- Balance at Balance at Dividend Distributions of Affiliated Investment Companies 10/31/2013 10/31/2014 Purchases Sales Income Realized Gains ------------------------------- ---------- ---------- --------- ------- -------- ---------------- U.S. Core Equity 2 Portfolio........... $37,594 $ 64,220 $28,980 $ 7,200 $ 670 $342 International Core Equity Portfolio.... 34,847 53,147 26,181 5,580 1,166 -- Emerging Markets Core Equity Portfolio. 15,187 23,899 11,446 2,600 363 -- ------- -------- ------- ------- ------ ---- Total.................................. $87,628 $141,266 $66,607 $15,380 $2,199 $342 ======= ======== ======= ======= ====== ==== 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, 2014, 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, distributions received from real estate investment trusts 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.............. $ 2,841 $ (284) $ (2,557) U.S. Large Cap Equity Portfolio.................... 69 (60) (9) U.S. Large Cap Value Portfolio..................... 5,129 (3,752) (1,377) U.S. Targeted Value Portfolio...................... 16,408 (965) (15,443) U.S. Small Cap Value Portfolio..................... 27,492 (3,944) (23,548) U.S. Core Equity 1 Portfolio....................... 7,962 (5,946) (2,016) U.S. Core Equity 2 Portfolio....................... 5,976 (4,163) (1,813) U.S. Vector Equity Portfolio....................... 7,287 (1,398) (5,889) U.S. Small Cap Portfolio........................... 17,302 (3,711) (13,591) U.S. Micro Cap Portfolio........................... 15,490 (1,637) (13,853) DFA Real Estate Securities Portfolio............... 5,762 13,007 (18,769) Large Cap International Portfolio.................. -- (965) 965 International Core Equity Portfolio................ 7,711 (1,854) (5,857) International Small Company Portfolio.............. 19,380 4,578 (23,958) Japanese Small Company Portfolio................... -- 2,383 (2,383) Asia Pacific Small Company Portfolio............... -- 355 (355) United Kingdom Small Company Portfolio............. 196 (56) (140) Continental Small Company Portfolio................ -- 103 (103) DFA International Real Estate Securities Portfolio. 5,952 (4,743) (1,209) DFA Global Real Estate Securities Portfolio........ 598 (598) -- DFA International Small Cap Value Portfolio........ 18,832 (7,087) (11,745) International Vector Equity Portfolio.............. 1,317 578 (1,895) World ex U.S. Value Portfolio...................... -- 94 (94) 160 Increase Increase (Decrease) (Decrease) Increase Undistributed Accumulated (Decrease) Net Investment Net Realized Paid-In Capital Income Gains (Losses) --------------- -------------- -------------- World ex U.S. Targeted Value Portfolio..... $ 128 $ 108 $ (236) World ex U.S. Core Equity Portfolio........ 34 14 (48) World Core Equity Portfolio................ -- 7 (7) Selectively Hedged Global Equity Portfolio. 174 1,372 (1,546) Emerging Markets Portfolio................. 2,916 (3,574) 658 Emerging Markets Small Cap Portfolio....... 11,484 (6,760) (4,724) Emerging Markets Value Portfolio........... 22,724 (16,924) (5,800) Emerging Markets Core Equity Portfolio..... 15,015 (17,749) 2,734 The tax character of dividends and distributions declared and paid during the years ended October 31, 2013 and October 31, 2014 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 2013.................................. $ 1,597 -- $ 1,597 2014.................................. 903 -- 903 U.S. Large Cap Equity Portfolio 2013.................................. 321 -- 321 2014.................................. 3,209 -- 3,209 U.S. Large Cap Value Portfolio 2013.................................. 180,943 -- 180,943 2014.................................. 230,364 -- 230,364 U.S. Targeted Value Portfolio 2013.................................. 55,372 $162,209 217,581 2014.................................. 51,735 237,290 289,025 U.S. Small Cap Value Portfolio 2013.................................. 112,970 380,218 493,188 2014.................................. 66,463 443,795 510,258 U.S. Core Equity 1 Portfolio 2013.................................. 105,633 -- 105,633 2014.................................. 135,714 34,892 170,606 U.S. Core Equity 2 Portfolio 2013.................................. 143,640 55,772 199,412 2014.................................. 170,204 98,745 268,949 U.S. Vector Equity Portfolio 2013.................................. 34,959 3,507 38,466 2014.................................. 39,201 38,966 78,167 U.S. Small Cap Portfolio 2013.................................. 83,270 228,671 311,941 2014.................................. 85,510 218,795 304,305 U.S. Micro Cap Portfolio 2013.................................. 46,915 176,365 223,280 2014.................................. 43,726 200,738 244,464 DFA Real Estate Securities Portfolio 2013.................................. 102,731 -- 102,731 2014.................................. 156,934 -- 156,934 161 Net Investment Income and Short-Term Long-Term Capital Gains Capital Gains Total -------------- ------------- -------- Large Cap International Portfolio 2013............................................... $ 70,787 -- $ 70,787 2014............................................... 98,177 -- 98,177 International Core Equity Portfolio 2013............................................... 214,687 -- 214,687 2014............................................... 320,068 -- 320,068 International Small Company Portfolio 2013............................................... 159,066 $ 39,012 198,078 2014............................................... 218,133 211,626 429,759 Japanese Small Company Portfolio 2013............................................... 2,836 -- 2,836 2014............................................... 11,539 -- 11,539 Asia Pacific Small Company Portfolio 2013............................................... 7,603 -- 7,603 2014............................................... 12,860 -- 12,860 United Kingdom Small Company Portfolio 2013............................................... 953 -- 953 2014............................................... 919 406 1,325 Continental Small Company Portfolio 2013............................................... 2,834 -- 2,834 2014............................................... 3,660 -- 3,660 DFA International Real Estate Securities Portfolio 2013............................................... 181,848 -- 181,848 2014............................................... 106,263 -- 106,263 DFA Global Real Estate Securities Portfolio 2013............................................... 84,341 -- 84,341 2014............................................... 72,036 -- 72,036 DFA International Small Cap Value Portfolio 2013............................................... 198,381 117,102 315,483 2014............................................... 239,810 127,501 367,311 International Vector Equity Portfolio 2013............................................... 17,456 2,044 19,500 2014............................................... 31,913 7,322 39,235 World ex U.S. Value Portfolio 2013............................................... 2,334 -- 2,334 2014............................................... 4,113 -- 4,113 World ex U.S. Targeted Value Portfolio 2013............................................... 993 -- 993 2014............................................... 2,537 1,141 3,678 World ex U.S. Core Equity Portfolio 2013............................................... 1,171 -- 1,171 2014............................................... 6,163 -- 6,163 World Core Equity Portfolio 2013............................................... 24 -- 24 2014............................................... 358 14 372 Selectively Hedged Global Equity Portfolio 2013............................................... 373 56 429 2014............................................... 2,139 539 2,678 162 Net Investment Income and Short-Term Long-Term Capital Gains Capital Gains Total -------------- ------------- -------- Emerging Markets Portfolio 2013................................... $ 59,866 $ 30,527 $ 90,393 2014................................... 78,253 20,987 99,240 Emerging Markets Small Cap Portfolio 2013................................... 71,149 92,100 163,249 2014................................... 83,100 63,095 146,195 Emerging Markets Value Portfolio 2013................................... 357,501 344,531 702,032 2014................................... 418,693 264,053 682,746 Emerging Markets Core Equity Portfolio 2013................................... 205,400 -- 205,400 2014................................... 287,956 -- 287,956 At October 31, 2014, 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....... $ 1,183 $ 1,658 $ 2,841 U.S. Large Cap Equity Portfolio............. 60 4 64 U.S. Large Cap Value Portfolio.............. 3,752 1,377 5,129 U.S. Targeted Value Portfolio............... 2,906 13,502 16,408 U.S. Small Cap Value Portfolio.............. 3,731 23,761 27,492 U.S. Core Equity 1 Portfolio................ 2,994 1,051 4,045 U.S. Core Equity 2 Portfolio................ 3,939 2,037 5,976 U.S. Vector Equity Portfolio................ 1,899 5,388 7,287 U.S. Small Cap Portfolio.................... 3,514 13,788 17,302 U.S. Micro Cap Portfolio.................... 1,587 13,903 15,490 DFA Real Estate Securities Portfolio........ 1,721 -- 1,721 International Core Equity Portfolio......... 3,892 -- 3,892 International Small Company Portfolio....... 9,273 10,107 19,380 United Kingdom Small Company Portfolio...... 60 136 196 DFA Global Real Estate Securities Portfolio. 395 -- 395 DFA International Small Cap Value Portfolio. 9,738 9,094 18,832 International Vector Equity Portfolio....... 991 326 1,317 World ex U.S.Targeted Value Portfolio....... 112 16 128 World ex U.S. Core Equity Portfolio......... 23 -- 23 Selectively Hedged Global Equity Portfolio.. 122 52 174 Emerging Markets Portfolio.................. 2,916 -- 2,916 Emerging Markets Small Cap Portfolio........ 2,631 2,358 4,989 Emerging Markets Value Portfolio............ 22,724 -- 22,724 Emerging Markets Core Equity Portfolio...... 8,118 -- 8,118 163 At October 31, 2014, 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 Carryforward (Depreciation) Losses) -------------- ------------- ------------ -------------- ------------- Enhanced U.S. Large Company Portfolio.............................. $ 10,953 $ 16,610 -- $ 4,258 $ 31,821 U.S. Large Cap Equity Portfolio.......... 789 266 -- 35,396 36,451 U.S. Large Cap Value Portfolio........... 33,189 86,219 -- 5,314,609 5,434,017 U.S. Targeted Value Portfolio............ 16,494 237,909 -- 1,448,620 1,703,023 U.S. Small Cap Value Portfolio........... 19,593 427,114 -- 3,253,670 3,700,377 U.S. Core Equity 1 Portfolio............. 20,278 49,463 -- 3,332,295 3,402,036 U.S. Core Equity 2 Portfolio............. 23,510 89,850 -- 4,352,855 4,466,215 U.S. Vector Equity Portfolio............. 4,696 109,043 -- 1,124,422 1,238,161 U.S. Small Cap Portfolio................. 8,376 268,311 -- 2,513,699 2,790,386 U.S. Micro Cap Portfolio................. 5,283 278,651 -- 1,651,592 1,935,526 DFA Real Estate Securities Portfolio..... 23,652 -- $(135,249) 2,132,640 2,021,043 Large Cap International Portfolio........ 10,646 -- (217,917) 525,987 318,716 International Core Equity Portfolio...... 51,510 -- (301,210) 1,144,778 895,078 International Small Company Portfolio.... 131,822 250,319 -- 948,743 1,330,884 Japanese Small Company Portfolio......... 7,630 -- (59,307) 8,436 (43,241) Asia Pacific Small Company Portfolio..... 14,404 -- (26,743) (3,568) (15,907) United Kingdom Small Company Portfolio.............................. 481 2,151 -- 10,875 13,507 Continental Small Company Portfolio...... 310 -- (21,040) 24,524 3,794 DFA International Real Estate Securities Portfolio.............................. 141,014 -- (206,244) 40,344 (24,886) DFA Global Real Estate Securities Portfolio.............................. 21,815 -- (774) 635,235 656,276 DFA International Small Cap Value Portfolio.............................. 127,903 207,078 -- 1,447,990 1,782,971 International Vector Equity Portfolio.... 7,404 10,948 -- 153,470 171,822 World ex U.S. Value Portfolio............ 632 -- (1,648) 8,666 7,650 World ex U.S. Targeted Value Portfolio.............................. 425 410 -- 4,762 5,597 World ex U.S. Core Equity Portfolio...... -- -- -- (2,352) (2,352) World Core Equity Portfolio.............. 12 232 -- (2,611) (2,367) Selectively Hedged Global Equity Portfolio.............................. 4,023 1,915 -- 15,899 21,837 Emerging Markets Portfolio............... 17,907 -- (24,940) 1,131,763 1,124,730 Emerging Markets Small Cap Portfolio..... 43,338 88,624 -- 432,216 564,178 Emerging Markets Value Portfolio......... 193,147 -- (527,781) 64,633 (270,001) Emerging Markets Core Equity Portfolio.............................. 73,738 -- (161,804) 1,299,327 1,211,261 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 164 enactment. As of October 31, 2014, 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, ---------------------------------------------------------- 2015 2016 2017 2018 2019 Unlimited Total ------ ------- -------- ------- ------- --------- -------- 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............... -- $ 1,368 $ 62,969 $44,388 $26,523 -- $135,248 Large Cap International Portfolio.................. -- 19,004 135,392 14,311 12,549 $ 36,660 217,916 International Core Equity Portfolio................ -- -- 53,176 -- -- 248,034 301,210 International Small Company Portfolio.............. -- -- -- -- -- -- -- Japanese Small Company Portfolio................... $4,547 23,057 13,952 12,208 5,543 -- 59,307 Asia Pacific Small Company Portfolio............... -- 16,317 8,261 -- -- 2,165 26,743 United Kingdom Small Company Portfolio............. -- -- -- -- -- -- -- Continental Small Company Portfolio................ -- 8,564 7,224 5,252 -- -- 21,040 DFA International Real Estate Securities Portfolio. 46 13,446 34,576 38,689 69,466 50,022 206,245 DFA Global Real Estate Securities Portfolio........ -- -- -- 774 -- -- 774 DFA International Small Cap Value Portfolio........ -- -- -- -- -- -- -- International Vector Equity Portfolio.............. -- -- -- -- -- -- -- World ex U.S. Value Portfolio...................... -- -- -- -- 1,648 -- 1,648 World ex U.S. Targeted Value Portfolio............. -- -- -- -- -- -- -- World ex U.S. Core Equity Portfolio................ -- -- -- -- -- -- -- World Core Equity Portfolio........................ -- -- -- -- -- -- -- Selectively Hedged Global Equity Portfolio......... -- -- -- -- -- -- -- Emerging Markets Portfolio......................... -- -- -- -- -- 24,940 24,940 Emerging Markets Small Cap Portfolio............... -- -- -- -- -- -- -- Emerging Markets Value Portfolio................... -- -- -- -- -- 527,781 527,781 Emerging Markets Core Equity Portfolio............. -- 7,080 26,444 -- -- 128,280 161,804 During the year ended October 31, 2014, the Portfolios utilized the following capital loss carryforwards to offset realized capital gains for federal income tax purposes (amounts in thousands): Enhanced U.S. Large Company Portfolio.............. $ 1,059 U.S. Large Cap Value Portfolio..................... 512,898 DFA Real Estate Securities Portfolio............... 39,893 Japanese Small Company Portfolio................... 7,238 Continental Small Company Portfolio................ 5,494 DFA International Real Estate Securities Portfolio. 453 DFA Global Real Estate Securities Portfolio........ 34 World ex U.S. Value Portfolio...................... 1,066 165 At October 31, 2014, 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, as follows (amounts in thousands): Net Unrealized Federal Unrealized Unrealized Appreciation Tax Cost Appreciation Depreciation (Depreciation) ----------- ------------ ------------ -------------- Enhanced U.S. Large Company Portfolio.............. $ 210,692 $ 5,022 $ (749) $ 4,273 U.S. Large Cap Equity Portfolio.................... 237,614 38,887 (3,491) 35,396 U.S. Large Cap Value Portfolio..................... 9,823,567 5,314,609 -- 5,314,609 U.S. Targeted Value Portfolio...................... 5,165,038 1,685,110 (236,491) 1,448,619 U.S. Small Cap Value Portfolio..................... 10,278,857 4,008,701 (755,031) 3,253,670 U.S. Core Equity 1 Portfolio....................... 8,665,729 3,497,101 (164,805) 3,332,296 U.S. Core Equity 2 Portfolio....................... 10,174,035 4,623,538 (270,683) 4,352,855 U.S. Vector Equity Portfolio....................... 2,904,496 1,250,886 (126,464) 1,124,422 U.S. Small Cap Portfolio........................... 8,953,532 2,915,579 (401,882) 2,513,697 U.S. Micro Cap Portfolio........................... 4,376,325 2,023,663 (372,071) 1,651,592 DFA Real Estate Securities Portfolio............... 5,215,811 2,157,356 (59,821) 2,097,535 Large Cap International Portfolio.................. 2,775,950 746,735 (220,554) 526,181 International Core Equity Portfolio................ 12,399,582 2,136,680 (991,291) 1,145,389 International Small Company Portfolio.............. 7,882,227 949,331 -- 949,331 Japanese Small Company Portfolio................... 499,853 8,560 -- 8,560 Asia Pacific Small Company Portfolio............... 367,859 (3,566) (1) (3,567) United Kingdom Small Company Portfolio............. 24,185 10,872 -- 10,872 Continental Small Company Portfolio................ 144,642 24,404 -- 24,404 DFA International Real Estate Securities Portfolio. 3,223,748 102,962 (62,483) 40,479 DFA Global Real Estate Securities Portfolio........ 2,673,856 635,235 -- 635,235 DFA International Small Cap Value Portfolio........ 11,236,026 3,233,676 (1,784,797) 1,448,879 International Vector Equity Portfolio.............. 1,288,889 244,755 (91,208) 153,547 World ex U.S. Value Portfolio...................... 105,080 8,710 -- 8,710 World ex U.S. Targeted Value Portfolio............. 146,202 4,762 -- 4,762 World ex U.S. Core Equity Portfolio................ 408,129 2,247 (4,599) (2,352) World Core Equity Portfolio........................ 78,292 486 (3,096) (2,610) Selectively Hedged Global Equity Portfolio......... 125,380 15,886 -- 15,886 Emerging Markets Portfolio......................... 2,948,677 1,131,865 (51) 1,131,814 Emerging Markets Small Cap Portfolio............... 4,428,625 432,439 -- 432,439 Emerging Markets Value Portfolio................... 18,679,167 64,575 -- 64,575 Emerging Markets Core Equity Portfolio............. 15,869,382 3,057,569 (1,757,980) 1,299,589 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 Portfolio's federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service. 166 G. Capital Share Transactions: The capital share transactions by class were as follows (amounts in thousands): Year Ended Year Ended Oct. 31, 2014 Oct. 31, 2013 --------------------- --------------------- Amount Shares Amount Shares ----------- -------- ----------- -------- U.S. Targeted Value Portfolio Class R1 Shares Shares Issued........................................ $ 9,171 406 $ 9,003 477 Shares Issued in Lieu of Cash Distributions.......... 657 30 3,423 205 Shares Redeemed...................................... (2,817) (123) (61,998) (3,124) ----------- -------- ----------- -------- Net Increase (Decrease) -- Class R1 Shares............ $ 7,011 313 $ (49,572) (2,442) =========== ======== =========== ======== Class R2 Shares Shares Issued........................................ $ 77,620 3,429 $ 10,505 520 Shares Issued in Lieu of Cash Distributions.......... 1,832 84 923 55 Shares Redeemed...................................... (21,767) (957) (5,597) (281) ----------- -------- ----------- -------- Net Increase (Decrease) -- Class R2 Shares............ $ 57,685 2,556 $ 5,831 294 =========== ======== =========== ======== Institutional Class Shares Shares Issued........................................ $ 1,806,386 79,191 $ 1,049,705 53,476 Shares Issued in Lieu of Cash Distributions.......... 268,683 12,353 189,447 11,289 Shares Redeemed...................................... (897,338) (39,462) (1,045,053) (52,845) ----------- -------- ----------- -------- Net Increase (Decrease) -- Institutional Class Shares. $ 1,177,731 52,082 $ 194,099 11,920 =========== ======== =========== ======== Emerging Markets Value Portfolio Class R2 Shares Shares Issued........................................ $ 38,565 1,378 $ 27,484 947 Shares Issued in Lieu of Cash Distributions.......... 3,524 126 3,927 137 Shares Redeemed...................................... (43,702) (1,563) (27,940) (973) ----------- -------- ----------- -------- Net Increase (Decrease) -- Class R2 Shares............ $ (1,613) (59) $ 3,471 111 =========== ======== =========== ======== Institutional Class Shares Shares Issued........................................ $ 3,218,550 115,620 $ 4,212,669 148,010 Shares Issued in Lieu of Cash Distributions.......... 643,949 22,910 652,656 22,854 Shares Redeemed...................................... (3,445,026) (122,635) (2,940,034) (104,206) ----------- -------- ----------- -------- Net Increase (Decrease) -- Institutional Class Shares. $ 417,473 15,895 $ 1,925,291 66,658 =========== ======== =========== ======== On October 29, 2010, the Board of Directors of the Fund 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 167 shareholder's investment in the Portfolio was not impacted by the conversion, however, a shareholder received 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. 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. 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. 2. 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, 2014, The 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, 2014 Gain (Loss) ---------- -------- ------------------ -------- ---------------- ----------- 12/15/14 (5,183) Canadian Dollar (1) $ (4,609) $ (4,594) $ 15 11/14/14 3,162 UK Pound Sterling (1) 5,096 5,057 (39) 11/14/14 (12,356) UK Pound Sterling (2) (19,993) (19,764) 229 -------- -------- ---- $(19,506) $(19,301) $205 ======== ======== ==== 168 Selectively Hedged Global Equity Portfolio* Unrealized Foreign Settlement Currency Contract Value at Exchange Date Amount** Currency Amount October 31, 2014 Gain (Loss) ---------- ---------- -------------- -------- ---------------- ----------- 11/24/14 (439) Denmark Krone (1) $ (76) $ (75) $ 1 11/24/14 (3,659) Denmark Krone (1) (628) (616) 12 11/26/14 (9,274) Euro (3) (11,726) (11,623) 103 01/28/15 (1,028,433) Japanese Yen (4) (9,544) (9,165) 379 12/03/14 (2,848) Swiss Franc (2) (3,103) (2,960) 143 -------- -------- ---- $(25,077) $(24,439) $638 ======== ======== ==== Counterparties: (1)Citibank, N.A. (2)JP Morgan (3)Bank of America Corp. (4)State Street Bank and Trust * During the year ended October 31, 2014, Enhanced U.S. Large Company Portfolio's and Selectively Hedged Global Equity Portfolio's average contract amount of forward currency contracts was $43,008 and $21,289 (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. 3. 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, U.S. Small Cap Value 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), Russell 2000 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. At October 31, 2014, the following Portfolios had outstanding futures contracts (dollar amounts in thousands): Expiration Number of Contract Unrealized Cash Description Date Contracts* Value Gain (Loss) Collateral ----------------------- ---------- ---------- -------- ----------- ---------- Enhanced U.S. Large Company Portfolio....... S&P 500 Index(R) 12/18/14 411 $206,671 $7,062 -- Selectively Hedged Global Equity Portfolio........ S&P 500(R) Emini Index 12/19/14 51 5,129 51 $235 Securities have been segregated as collateral for open futures contracts. * During the year ended October 31, 2014, Enhanced U.S. Large Company Portfolio's and Selectively Hedged Global Equity Portfolio's average notional contract amount of outstanding futures contracts were $191,549 and $3,210 (in thousands), respectively. 169 The following is a summary of the location of derivatives on the Portfolios' Statements of Assets and Liabilities as of October 31, 2014: 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 Receivables: Futures Margin Variation The following is a summary of the Portfolios' derivative instrument holdings categorized by primary risk exposure as of October 31, 2014 (amounts in thousands): Asset Derivatives Value ----------------------------------- Total Value Foreign at Exchange Equity October 31, 2014 Contracts Contracts - ---------------- --------- --------- Enhanced U.S. Large Company Portfolio...... $7,306 $244 $7,062* Selectively Hedged Global Equity Portfolio. 689 638 51* Liability Derivatives Value ----------------------------------- Total Value Foreign at Exchange Equity October 31, 2014 Contracts Contracts - ---------------- --------- --------- Enhanced U.S. Large Company Portfolio...... $ (39) $(39) -- * Includes cumulative appreciation (depreciation) of futures contracts. Only current day's margin variation is reporting within the Statements 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, 2014 (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 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, 2014 (amounts in thousands): Realized Gain (Loss) on Derivatives Recognized in Income ------------------------------- Foreign Exchange Equity Total Contracts Contracts -------- --------- --------- Enhanced U.S. Large Company Portfolio....... $ 31,046 $ (129) $ 31,175 U.S. Small Cap Value Portfolio*............. (12,757) -- (12,757) U.S. Micro Cap Portfolio*................... (692) -- (692) DFA Real Estate Securities Portfolio*....... (553) -- (553) Selectively Hedged Global Equity Portfolio.. 2,041 1,469 572 170 Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income ------------------------------- Foreign Exchange Equity Total Contracts Contracts ----- --------- --------- Enhanced U.S. Large Company Portfolio...... $(430) $422 $(852) Selectively Hedged Global Equity Portfolio. 528 610 (82) * As of October 31, 2014, there were no futures contracts outstanding. During the year ended October 31, 2014, the Portfolios had limited activity in futures contracts. Offsetting of Derivative Assets and Derivative Liabilities The following tables present the Portfolios' gross and net amount of assets and liabilities available for offset under netting arrangements as well as any related collateral received or pledged by the Portfolios as of October 31, 2014 (Amounts in thousands): Gross Amounts Not Gross Amounts Not Offset in the Offset in the Statements of Assets Statements of Assets Gross and Liabilities Gross and Liabilities Amounts of ---------------------- Amounts of ---------------------- Recognized Financial Cash Net Recognized Financial Cash Net Assets Instruments Collateral Amount Liabilities Instruments Collateral Amount Description (a) (b) Received (c) (a) (d) Pledged (e) ----------- ---------- ----------- ---------- ------ ----------- ----------- ---------- ------ Assets Liabilities ---------------------------------------- ----------------------------------------- Selectively Hedged Global Equity Portfolio Forward Currency Contracts................. $638 -- -- $638 -- -- -- -- Enhanced U.S. Large Company Portfolio Forward Currency Contracts................. $244 $(15) -- $229 $39 $(15) -- $24 (a)No amounts have been netted against the gross amounts recognized in the Statements of Assets and Liabilities. (b)Represents the amount of assets that could be offset by liabilities with the same counterparty under master netting or similar agreements that management elects not to offset on the Statements of Assets and Liabilities. (c)Represents the net amount due from counterparties in the event of default. (d)Represents the amount of liabilities that could be offset by assets with the same counterparty under master netting or similar agreements that management elects not to offset on the Statements of Assets and Liabilities. (e)Represents the net amount due to counterparties in the event of default. Note J contains information regarding securities lending amounts that are subject to netting arrangements. I. 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 agreement for the line of credit expires on March 2, 2015. The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit with its international custodian bank. Each portfolio is permitted to borrow, subject to its 171 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 line of credit agreement expires on January 9, 2015. For the year ended October 31, 2014, 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 Equity Portfolio........ 0.85% $ 377 7 -- $ 800 U.S. Small Cap Value Portfolio......... 0.84% 14,769 25 $ 9 43,715 U.S. Vector Equity Portfolio........... 0.85% 649 3 -- 649 U.S. Small Cap Portfolio............... 0.84% 6,921 1 -- 6,921 U.S. Micro Cap Portfolio............... 0.85% 2,595 32 2 6,726 Large Cap International Portfolio...... 0.84% 4,560 4 -- 11,607 International Small Company Portfolio.. 0.83% 5,142 7 1 12,200 DFA International Small Cap Value Portfolio............................ 0.83% 5,466 17 2 15,323 International Vector Equity Portfolio.. 0.84% 2,959 10 1 10,858 World ex U.S. Value Portfolio.......... 0.84% 206 38 -- 3,715 World ex U.S. Targeted Value Portfolio. 0.84% 724 28 -- 4,483 World ex U.S. Core Equity Portfolio.... 0.83% 1,029 12 -- 6,277 World Core Equity Portfolio............ 0.84% 53 56 -- 224 * Number of Days Outstanding represents the total of single or consecutive days during the year ended October 31, 2014, that each Portfolio's available line of credit was utilized. There were no outstanding borrowings by the Portfolios under this line of credit as of October 31, 2014. J. Securities Lending: As of October 31, 2014, 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 -------- U.S. Large Cap Equity Portfolio.................... $ 51 U.S. Targeted Value Portfolio...................... 21,398 U.S. Small Cap Value Portfolio..................... 29,283 U.S. Core Equity 1 Portfolio....................... 29,505 U.S. Core Equity 2 Portfolio....................... 50,236 U.S. Vector Equity Portfolio....................... 19,332 U.S. Small Cap Portfolio........................... 1,156 U.S. Micro Cap Portfolio........................... 2,399 DFA Real Estate Securities Portfolio............... 43,406 Large Cap International Portfolio.................. 7,310 International Core Equity Portfolio................ 33,745 DFA International Real Estate Securities Portfolio. 3,455 DFA International Small Cap Value Portfolio........ 16,689 International Vector Equity Portfolio.............. 3,210 Emerging Markets Core Equity Portfolio............. 614,348 172 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 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. In the event of the bankruptcy of the borrower, a Portfolio could experience delay in recovering the loaned securities or only recover cash or a security of equivalent value. 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. Other: At October 31, 2014, 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 ------------ ------------- Enhanced U.S. Large Company Portfolio-Institutional Class Shares. 5 82% U.S. Large Cap Equity Portfolio-Institutional Class Shares....... 3 96% 173 Approximate Percentage of Number of Outstanding Shareholders Shares ------------ ------------- U.S. Large Cap Value Portfolio-Institutional Class Shares.............. 3 71% U.S. Targeted Value Portfolio-Class R1 Shares.......................... 4 90% U.S. Targeted Value Portfolio-Class R2 Shares.......................... 6 80% U.S. Targeted Value Portfolio-Institutional Class Shares............... 3 57% U.S. Small Cap Value Portfolio-Institutional Class Shares.............. 3 58% U.S. Core Equity 1 Portfolio-Institutional Class Shares................ 5 78% U.S. Core Equity 2 Portfolio-Institutional Class Shares................ 6 82% U.S. Vector Equity Portfolio-Institutional Class Shares................ 5 94% U.S. Small Cap Portfolio-Institutional Class Shares.................... 3 48% U.S. Micro Cap Portfolio-Institutional Class Shares.................... 5 76% DFA Real Estate Securities Portfolio-Institutional Class Shares........ 4 85% Large Cap International Portfolio-Institutional Class Shares........... 3 67% International Core Equity Portfolio.................................... 4 71% Japanese Small Company Portfolio-Institutional Class Shares............ 3 83% Asia Pacific Small Company Portfolio-Institutional Class Shares........ 3 89% United Kingdom Small Company Portfolio-Institutional Class Shares...... 4 97% Continental Small Company Portfolio-Institutional Class Shares......... 5 94% DFA International Real Estate Securities Portfolio-Institutional Class Shares............................................................... 4 93% DFA Global Real Estate Securities Portfolio-Institutional Class Shares. 3 81% 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 82% World ex U.S. Targeted Value Portfolio-Institutional Class Shares...... 3 99% World ex U.S. Core Equity Portfolio-Institutional Class Shares......... 3 95% Selectively Hedged Global Equity Portfolio-Institutional Class Shares.. 3 96% Emerging Markets Portfolio-Institutional Class Shares.................. 4 67% Emerging Markets Small Cap Portfolio-Institutional Class Shares........ 4 55% Emerging Markets Value Portfolio-Class R2 Shares....................... 4 87% Emerging Markets Value Portfolio-Institutional Class Shares............ 2 30% 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, described below, 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 174 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. Oral argument on the appeal was held on November 5, 2014, and the parties await the Second Circuit's ruling. The Committee Action remains pending, and a motion to dismiss on behalf of all shareholder defendants in the Committee Action was filed on May 23, 2014. The motion to dismiss is fully-briefed, and the parties await the scheduling of oral argument on the motion. The Committee Action is stayed pending the disposition of the motion to dismiss. Litigation counsel to The U.S. Large Cap Value Series in the Lawsuits has advised management that it 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 quantify the cost of the Lawsuits that could potentially be 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. N. 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. 175 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors of DFA Investment Dimensions Group Inc. and Shareholders of the Portfolios, as defined: 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, World 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, 2014, 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, 2014 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 19, 2014 176 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- DFA COMMODITY STRATEGY PORTFOLIO VS. BLOOMBERG COMMODITY INDEX TOTAL RETURN November 9, 2010-October 31, 2014 [CHART] DFA Commodity Strategy Bloomberg Commodity Index Portfolio 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 8,051 11/30/2013 8,397 7,987 12/31/2013 8,473 8,086 1/31/2014 8,565 8,110 2/28/2014 9,156 8,616 3/31/2014 9,200 8,651 4/30/2014 9,435 8,862 5/31/2014 9,200 8,607 6/30/2014 9,271 8,658 7/31/2014 8,822 8,227 8/31/2014 8,750 8,141 Past performance is not predictive of 9/30/2014 8,208 7,634 future performance. 10/31/2014 8,178 7,573 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the Average Annual One Since redemption of fund shares. Total Return Year Inception Dow Jones data provided by Dow Jones ------------------------------------------------------ Indexes. The S&P data are provided by -3.08% -4.93% Standard & Poor's Index Services Group. -------------------------------------------------------------------------------- 177 DFA INVESTMENT DIMENSIONS GROUP INC. MANAGEMENT'S DISCUSSION AND ANALYSIS (Unaudited) Commodity Market Review 12 Months Ended October 31, 2014 During the fiscal year ended October 31, 2014, commodities retreated from an early 2014 rally to end with a -5.94% return as measured by the Bloomberg Commodity Index Total Return. The precious metals sector led the decline. Following closely in terms of decline, grain and energy prices declined significantly in the period. Industrial metals produced near flat returns, and the livestock sector stood apart, producing a double-digit positive return in the period. 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 Bloomberg Commodity Index Total Return. 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, 2014, the total return was -3.08% for the Portfolio and -5.94% for the Bloomberg Commodity Index Total Return. The Portfolio's relative outperformance was attributable to the combination of differences in the 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 Bloomberg Commodity Index, whose returns for the period ranged from +62.41% (coffee) to -31.64% (sugar). While the Portfolio has derivative exposure to commodities, the majority of the assets were invested in fixed income securities. The fixed income component duration increased slightly from 1.81 to 1.85 years during the period. The Portfolio benefited from exposure to longer duration relative to its short-term obligations on its derivatives. The Portfolio also benefited from its exposure to lower credit securities 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. 178 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, 2014 EXPENSE TABLES Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- DFA Commodity Strategy Portfolio -------------------------------- Actual Fund Return............... $1,000.00 $ 866.80 0.33% $1.55 Hypothetical 5% Annual Return.... $1,000.00 $1,023.54 0.33% $1.68 ---------- * 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. 179 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 29, 2014. 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.................................... 36.0% Foreign Corporate............................ 22.7% Foreign Government........................... 19.8% Government................................... 13.5% Supranational................................ 8.0% ----- 100.0% 180 DFA COMMODITY STRATEGY PORTFOLIO CONSOLIDATED SCHEDULE OF INVESTMENTS October 31, 2014 Face Amount^ Value+ ------- ------ (000) BONDS -- (79.2%) AUSTRALIA -- (6.7%) Australia & New Zealand Banking Group, Ltd. 1.250%, 01/10/17............................. $ 12,000 $12,041,136 1.250%, 06/13/17............................. 10,000 9,988,870 BHP Billiton Finance USA, Ltd. 1.625%, 02/24/17............................. 5,000 5,062,535 Commonwealth Bank of Australia 1.125%, 03/13/17............................. 8,737 8,739,464 1.900%, 09/18/17............................. 7,000 7,097,377 National Australia Bank, Ltd. 0.900%, 01/20/16............................. 5,000 5,016,750 1.300%, 07/25/16............................. 7,000 7,063,196 Westpac Banking Corp. 3.000%, 12/09/15............................. 8,500 8,723,014 1.200%, 05/19/17............................. 10,000 9,994,150 2.000%, 08/14/17............................. 3,000 3,055,923 ----------- TOTAL AUSTRALIA.................................. 76,782,415 ----------- CANADA -- (7.3%) Bank of Nova Scotia (The) 2.550%, 01/12/17............................. 5,000 5,153,565 Canadian National Railway Co. 1.450%, 12/15/16............................. 4,275 4,326,642 Enbridge, Inc. 4.900%, 03/01/15............................. 1,500 1,521,063 Export Development Canada 0.875%, 12/07/16............................. GBP 10,000 15,970,451 Ontario, Province of Canada 2.300%, 05/10/16............................. 5,000 5,129,055 Potash Corp. of Saskatchewan, Inc. 3.750%, 09/30/15............................. 1,830 1,881,441 Royal Bank of Canada 1.200%, 01/23/17............................. 7,000 7,017,290 1.250%, 06/16/17............................. 15,000 14,990,940 Toronto-Dominion Bank (The) 2.500%, 07/14/16............................. 2,500 2,573,345 2.375%, 10/19/16............................. 19,000 19,595,137 TransAlta Corp. 4.750%, 01/15/15............................. 2,508 2,527,695 TransCanada PipeLines, Ltd. 3.400%, 06/01/15............................. 3,106 3,156,243 ----------- TOTAL CANADA..................................... 83,842,867 ----------- FINLAND -- (1.3%) Municipality Finance P.L.C. 2.375%, 05/16/16............................. 15,000 15,425,760 ----------- Face Amount^ Value+ ------- ------ (000) FRANCE -- (1.7%) Agence Francaise de Developpement 2.500%, 07/15/15............................. $ 3,000 $ 3,045,600 BNP Paribas SA 3.250%, 03/11/15............................. 4,035 4,075,064 Orange SA 2.125%, 09/16/15............................. 500 505,467 2.750%, 09/14/16............................. 4,000 4,119,840 Societe Generale SA 2.750%, 10/12/17............................. 5,000 5,146,085 Total Capital International SA 1.550%, 06/28/17............................. 3,040 3,060,219 ----------- TOTAL FRANCE..................................... 19,952,275 ----------- GERMANY -- (3.2%) Deutsche Bank AG 3.250%, 01/11/16............................. 1,000 1,029,137 6.000%, 09/01/17............................. 3,000 3,362,445 KFW 5.500%, 12/07/15............................. GBP 4,000 6,732,666 Landeskreditbank Baden- Wuerttemberg Foerderbank 2.250%, 07/15/16............................. 10,000 10,285,320 Landwirtschaftliche Rentenbank 3.250%, 12/07/16............................. GBP 9,000 15,056,989 ----------- TOTAL GERMANY.................................... 36,466,557 ----------- JAPAN -- (2.9%) Japan Bank for International Cooperation 1.125%, 07/19/17............................. 15,000 15,044,085 Japan Finance Organization for Municipalities 1.500%, 09/12/17............................. 13,000 13,100,490 Nomura Holdings, Inc. 5.000%, 03/04/15............................. 3,500 3,545,861 2.000%, 09/13/16............................. 1,000 1,012,581 Sumitomo Mitsui Banking Corp. 1.300%, 01/10/17............................. 1,000 1,000,350 ----------- TOTAL JAPAN...................................... 33,703,367 ----------- NETHERLANDS -- (4.3%) Aegon NV 4.625%, 12/01/15............................. 3,489 3,631,902 Bank Nederlandse Gemeenten NV 1.375%, 09/27/17............................. 10,000 10,064,900 181 DFA COMMODITY STRATEGY PORTFOLIO CONTINUED Face Amount^ Value+ ------- ------ (000) NETHERLANDS -- (Continued) Cooperatieve Centrale Raiffeisen- Boerenleenbank BA 3.125%, 02/05/15............................. CAD 7,000 $ 6,237,301 Deutsche Telekom International Finance BV 5.750%, 03/23/16............................. 880 937,510 Nederlandse Waterschapsbank NV 2.125%, 09/07/16............................. GBP 10,000 16,336,622 2.125%, 02/09/17............................. 4,000 4,113,104 Shell International Finance BV 1.125%, 08/21/17............................. 8,000 7,998,120 ----------- TOTAL NETHERLANDS................................ 49,319,459 ----------- NORWAY -- (1.3%) Kommunalbanken A.S. 1.125%, 12/15/16............................. GBP 9,000 14,417,893 ----------- SUPRANATIONAL ORGANIZATION OBLIGATIONS -- (6.8%) Asian Development Bank 1.000%, 12/15/16............................. GBP 14,000 22,402,750 Council Of Europe Development Bank 1.750%, 12/19/16............................. GBP 14,000 22,753,468 European Bank for Reconstruction & Development 0.750%, 09/01/17............................. 5,000 4,967,670 European Investment Bank 3.250%, 12/07/16............................. GBP 9,000 15,062,979 4.875%, 01/17/17............................. 4,000 4,358,144 Nordic Investment Bank 7.500%, 04/15/15............................. NZD 11,000 8,711,887 ----------- TOTAL SUPRANATIONAL ORGANIZATION OBLIGATIONS..... 78,256,898 ----------- SWEDEN -- (2.8%) Kommuninvest I Sverige AB 1.625%, 02/13/17............................. 4,500 4,582,260 Svensk Exportkredit AB 2.125%, 07/13/16............................. 5,000 5,129,500 1.125%, 12/15/16............................. GBP 8,000 12,815,905 Svenska Handelsbanken AB 3.125%, 07/12/16............................. 9,250 9,607,642 ----------- TOTAL SWEDEN..................................... 32,135,307 ----------- SWITZERLAND -- (0.2%) Credit Suisse New York 3.500%, 03/23/15............................. 1,000 1,011,777 Face Amount^ Value+ ------- ------ (000) SWITZERLAND -- (Continued) UBS AG 3.875%, 01/15/15............................. $ 1,163 $ 1,170,885 ----------- TOTAL SWITZERLAND................................ 2,182,662 ----------- UNITED KINGDOM -- (5.3%) Barclays Bank P.L.C. 5.000%, 09/22/16............................. 1,700 1,824,989 BP Capital Markets P.L.C. 2.248%, 11/01/16............................. 6,500 6,653,368 British Telecommunications P.L.C. 2.000%, 06/22/15............................. 3,100 3,128,030 1.250%, 02/14/17............................. 1,200 1,196,916 Diageo Capital P.L.C. 5.500%, 09/30/16............................. 2,000 2,166,374 GlaxoSmithKline Capital P.L.C. 1.500%, 05/08/17............................. 5,000 5,043,340 Lloyds Bank P.L.C. 4.875%, 01/21/16............................. 5,000 5,249,485 Network Rail Infrastructure Finance P.L.C. 1.125%, 12/15/16............................. GBP 13,000 20,869,725 Rio Tinto Finance USA P.L.C. 1.125%, 03/20/15............................. 3,850 3,859,879 Royal Bank of Scotland Group P.L.C. 2.550%, 09/18/15............................. 6,300 6,389,901 Vodafone Group P.L.C. 1.625%, 03/20/17............................. 4,951 4,972,126 ----------- TOTAL UNITED KINGDOM............................. 61,354,133 ----------- UNITED STATES -- (35.4%) AbbVie, Inc. 1.200%, 11/06/15............................. 4,000 4,022,520 ACE INA Holdings, Inc. 2.600%, 11/23/15............................. 3,295 3,362,432 Actavis, Inc. 1.875%, 10/01/17............................. 6,000 5,947,290 Air Products & Chemicals, Inc. 2.000%, 08/02/16............................. 3,615 3,690,998 Altria Group, Inc. 4.125%, 09/11/15............................. 2,170 2,234,345 American Express Credit Corp. 1.750%, 06/12/15............................. 1,200 1,208,680 2.750%, 09/15/15............................. 2,250 2,294,201 Ameriprise Financial, Inc. 5.650%, 11/15/15............................. 813 853,698 Amgen, Inc. 1.875%, 11/15/14............................. 1,825 1,825,650 4.850%, 11/18/14............................. 1,000 1,001,603 182 DFA COMMODITY STRATEGY PORTFOLIO CONTINUED Face Amount^ Value+ ------- ------ (000) UNITED STATES -- (Continued) Anadarko Petroleum Corp. 5.950%, 09/15/16............................. $ 6,000 $ 6,520,422 Anheuser-Busch Cos., LLC 5.600%, 03/01/17............................. 5,000 5,488,520 Anheuser-Busch InBev Worldwide, Inc. 0.800%, 07/15/15............................. 2,000 2,005,802 Apache Corp. 5.625%, 01/15/17............................. 1,500 1,641,811 Apple, Inc. 1.050%, 05/05/17............................. 27,000 26,997,705 AT&T, Inc. 2.500%, 08/15/15............................. 3,066 3,112,781 2.400%, 08/15/16............................. 1,000 1,024,580 AutoZone, Inc. 6.950%, 06/15/16............................. 3,000 3,274,068 Bank of America Corp. 1.500%, 10/09/15............................. 5,000 5,036,400 3.750%, 07/12/16............................. 1,500 1,565,920 Bank of New York Mellon Corp. (The) 1.969%, 06/20/17............................. 4,000 4,078,872 Becton Dickinson and Co. 1.750%, 11/08/16............................. 1,500 1,515,690 Branch Banking & Trust Co. 1.000%, 04/03/17............................. 4,400 4,379,822 Burlington Northern Santa Fe LLC 4.875%, 01/15/15............................. 200 201,730 Capital One Financial Corp. 2.150%, 03/23/15............................. 4,700 4,729,445 Cardinal Health, Inc. 4.000%, 06/15/15............................. 3,000 3,060,105 CareFusion Corp. 1.450%, 05/15/17............................. 5,000 4,990,520 Caterpillar Financial Services Corp. 2.650%, 04/01/16............................. 5,000 5,137,455 1.350%, 09/06/16............................. 1,000 1,009,615 CenterPoint Energy Resources Corp. 6.150%, 05/01/16............................. 5,000 5,377,965 Charles Schwab Corp. (The) 0.850%, 12/04/15............................. 3,000 3,009,645 Citigroup, Inc. 1.350%, 03/10/17............................. 2,000 2,000,130 CNA Financial Corp. 5.850%, 12/15/14............................. 3,277 3,295,600 Colgate-Palmolive Co. 1.300%, 01/15/17............................. 9,723 9,808,115 Comcast Corp. 4.950%, 06/15/16............................. 3,500 3,732,540 Comerica, Inc. 3.000%, 09/16/15............................. 2,277 2,323,414 Computer Sciences Corp. 2.500%, 09/15/15............................. 3,558 3,608,225 Face Amount^ Value+ ------- ------ (000) UNITED STATES -- (Continued) ConAgra Foods, Inc. 5.819%, 06/15/17............................. $ 5,000 $5,521,900 CVS Health Corp. 3.250%, 05/18/15............................. 1,000 1,014,688 Devon Energy Corp. 1.200%, 12/15/16............................. 5,970 6,038,583 DIRECTV Holdings LLC / DIRECTV Financing Co., Inc. 3.500%, 03/01/16............................. 5,000 5,167,685 Dominion Resources, Inc. 5.150%, 07/15/15............................. 1,400 1,443,268 2.250%, 09/01/15............................. 5,000 5,059,095 Dow Chemical Co. (The) 2.500%, 02/15/16............................. 6,000 6,125,424 Eastman Chemical Co. 3.000%, 12/15/15............................. 1,000 1,023,259 2.400%, 06/01/17............................. 3,000 3,054,636 eBay, Inc. 1.350%, 07/15/17............................. 3,000 2,979,225 Ecolab, Inc. 1.000%, 08/09/15............................. 2,000 2,006,502 Enbridge Energy Partners L.P. 5.350%, 12/15/14............................. 1,475 1,482,983 Energy Transfer Partners L.P. 5.950%, 02/01/15............................. 1,200 1,214,490 EOG Resources, Inc. 2.950%, 06/01/15............................. 2,440 2,474,972 2.500%, 02/01/16............................. 6,000 6,126,870 Exelon Corp. 4.900%, 06/15/15............................. 500 512,741 Express Scripts Holding Co. 2.100%, 02/12/15............................. 4,000 4,016,124 3.125%, 05/15/16............................. 1,975 2,044,858 Fifth Third Bancorp 3.625%, 01/25/16............................. 1,000 1,033,646 Fifth Third Bank 0.900%, 02/26/16............................. 2,000 2,004,354 Ford Motor Credit Co. LLC 12.000%, 05/15/15............................ 3,500 3,705,415 Freeport-McMoRan, Inc. 1.400%, 02/13/15............................. 3,996 4,002,362 GATX Corp. 4.750%, 05/15/15............................. 5,240 5,346,503 Gilead Sciences, Inc. 2.400%, 12/01/14............................. 3,000 3,004,125 Goldman Sachs Group, Inc. (The) 3.300%, 05/03/15............................. 600 608,042 3.625%, 02/07/16............................. 1,000 1,032,075 6.250%, 09/01/17............................. 3,000 3,362,709 Hartford Financial Services Group, Inc. (The) 4.000%, 03/30/15............................. 1,400 1,419,058 183 DFA COMMODITY STRATEGY PORTFOLIO CONTINUED Face Amount^ Value+ ------- ------ (000) UNITED STATES -- (Continued) Hewlett-Packard Co. 2.625%, 12/09/14............................. $ 1,000 $1,001,908 3.000%, 09/15/16............................. 1,000 1,032,813 Hillshire Brands Co. (The) 2.750%, 09/15/15............................. 1,666 1,691,363 HSBC USA, Inc. 2.375%, 02/13/15............................. 2,000 2,011,108 John Deere Capital Corp. 2.000%, 01/13/17............................. 1,500 1,531,618 Johnson Controls, Inc. 5.500%, 01/15/16............................. 1,282 1,354,242 2.600%, 12/01/16............................. 3,475 3,587,201 JPMorgan Chase & Co. 3.700%, 01/20/15............................. 2,800 2,819,298 3.400%, 06/24/15............................. 1,000 1,018,061 Kellogg Co. 1.875%, 11/17/16............................. 1,000 1,016,834 1.750%, 05/17/17............................. 3,000 3,026,157 KeyBank NA 1.100%, 11/25/16............................. 6,000 6,005,712 KeyCorp 3.750%, 08/13/15............................. 3,000 3,071,118 Kinder Morgan Energy Partners L.P. 6.000%, 02/01/17............................. 830 908,756 Kroger Co. (The) 2.200%, 01/15/17............................. 1,000 1,020,855 Lorillard Tobacco Co. 3.500%, 08/04/16............................. 4,000 4,148,224 Lowe's Cos., Inc. 5.000%, 10/15/15............................. 1,050 1,094,246 Marathon Oil Corp. 0.900%, 11/01/15............................. 1,140 1,141,108 MetLife, Inc. 5.000%, 06/15/15............................. 500 513,737 Mondelez International, Inc. 4.125%, 02/09/16............................. 3,716 3,866,803 Morgan Stanley 3.800%, 04/29/16............................. 6,000 6,236,688 MUFG Union Bank NA 3.000%, 06/06/16............................. 1,000 1,030,570 Mylan, Inc. 1.350%, 11/29/16............................. 6,038 6,052,588 Occidental Petroleum Corp. 1.750%, 02/15/17............................. 2,722 2,757,155 Omnicom Group, Inc. 5.900%, 04/15/16............................. 1,750 1,870,265 ONEOK Partners L.P. 2.000%, 10/01/17............................. 2,820 2,839,994 PepsiCo, Inc. 0.700%, 08/13/15............................. 5,045 5,057,779 Philip Morris International, Inc. 2.500%, 05/16/16............................. 2,224 2,286,001 Phillips 66 2.950%, 05/01/17............................. 5,000 5,192,225 Face Amount^ Value+ ------- ------ (000) UNITED STATES -- (Continued) Pioneer Natural Resources Co. 6.650%, 03/15/17............................. $ 3,450 $ 3,822,424 Plains All American Pipeline L.P. / PAA Finance Corp. 3.950%, 09/15/15............................. 2,830 2,904,820 PNC Funding Corp. 4.250%, 09/21/15............................. 600 619,189 PPG Industries, Inc. 1.900%, 01/15/16............................. 2,050 2,077,935 Progress Energy, Inc. 5.625%, 01/15/16............................. 2,000 2,112,208 Prudential Financial, Inc. 3.875%, 01/14/15............................. 1,000 1,006,585 6.200%, 01/15/15............................. 2,448 2,475,420 Quest Diagnostics, Inc. 5.450%, 11/01/15............................. 4,000 4,173,856 Reynolds American, Inc. 1.050%, 10/30/15............................. 4,000 4,007,792 Sherwin-Williams Co. (The) 3.125%, 12/15/14............................. 1,048 1,051,224 Southern Power Co. 4.875%, 07/15/15............................. 3,660 3,763,633 Starbucks Corp. 0.875%, 12/05/16............................. 1,000 1,001,109 SunTrust Banks, Inc. 3.600%, 04/15/16............................. 4,000 4,157,504 Symantec Corp. 2.750%, 06/15/17............................. 2,000 2,032,656 TD Ameritrade Holding Corp. 4.150%, 12/01/14............................. 2,350 2,356,418 Thermo Fisher Scientific, Inc. 3.200%, 05/01/15............................. 2,250 2,276,615 2.250%, 08/15/16............................. 2,953 3,013,593 Time Warner Cable, Inc. 3.500%, 02/01/15............................. 4,000 4,027,472 Time Warner, Inc. 5.875%, 11/15/16............................. 1,000 1,094,408 Toyota Motor Credit Corp. 2.000%, 09/15/16............................. 15,819 16,165,626 UnitedHealth Group, Inc. 1.875%, 11/15/16............................. 1,000 1,020,133 Valero Energy Corp. 4.500%, 02/01/15............................. 900 908,055 Verizon Communications, Inc. 0.700%, 11/02/15............................. 3,000 3,002,334 Walgreen Co. 1.000%, 03/13/15............................. 3,720 3,725,915 Walt Disney Co. (The) 0.875%, 12/01/14............................. 1,500 1,500,795 1.125%, 02/15/17............................. 2,000 2,007,256 Wells Fargo & Co. 1.250%, 02/13/15............................. 1,000 1,002,551 1.500%, 07/01/15............................. 2,500 2,518,787 2.625%, 12/15/16............................. 6,000 6,210,660 184 DFA COMMODITY STRATEGY PORTFOLIO CONTINUED Face Amount^ Value+ ------- ------ (000) UNITED STATES -- (Continued) Western Union Co. (The) 5.930%, 10/01/16............................. $ 2,348 $ 2,552,337 Whirlpool Corp. 1.350%, 03/01/17............................. 2,000 1,994,372 Whirpool Corp. 1.650%, 11/01/17............................. 5,000 5,000,955 Williams Partners L.P. 3.800%, 02/15/15............................. 2,300 2,318,966 Xerox Corp. 4.250%, 02/15/15............................. 3,500 3,536,302 Yum! Brands, Inc. 4.250%, 09/15/15............................. 2,485 2,555,437 Zimmer Holdings, Inc. 1.400%, 11/30/14............................. 1,000 1,000,738 ------------ TOTAL UNITED STATES.............................. 408,374,413 ------------ TOTAL BONDS...................................... 912,214,006 ------------ AGENCY OBLIGATIONS -- (6.5%) Federal Home Loan Bank 2.250%, 09/08/17............................. 10,000 10,323,290 Federal Home Loan Mortgage Corporation 1.000%, 07/28/17............................. 30,000 30,055,050 Face Amount^ Value+ ------- ------ (000) AGENCY OBLIGATIONS -- (Continued) Federal National Mortgage Association 1.375%, 11/15/16............................. $ 5,000 $ 5,076,100 0.750%, 04/20/17............................. 30,000 29,934,030 -------------- TOTAL AGENCY OBLIGATIONS........................... 75,388,470 -------------- U.S. TREASURY OBLIGATIONS -- (14.3%) U.S. Treasury Notes ++^^ 0.875%, 12/31/16............................. 113,000 113,670,994 3.000%, 02/28/17............................. 15,000 15,809,760 1.000%, 09/15/17............................. 35,000 35,106,645 -------------- TOTAL U.S. TREASURY OBLIGATIONS.................... 164,587,399 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $1,157,311,859).............................. $1,152,189,875 ============== Summary of the Portfolio's investments as of October 31, 2014, 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.............................. -- $ 76,782,415 -- $ 76,782,415 Canada................................. -- 83,842,867 -- 83,842,867 Finland................................ -- 15,425,760 -- 15,425,760 France................................. -- 19,952,275 -- 19,952,275 Germany................................ -- 36,466,557 -- 36,466,557 Japan.................................. -- 33,703,367 -- 33,703,367 Netherlands............................ -- 49,319,459 -- 49,319,459 Norway................................. -- 14,417,893 -- 14,417,893 Supranational Organization Obligations. -- 78,256,898 -- 78,256,898 Sweden................................. -- 32,135,307 -- 32,135,307 Switzerland............................ -- 2,182,662 -- 2,182,662 United Kingdom......................... -- 61,354,133 -- 61,354,133 United States.......................... -- 408,374,413 -- 408,374,413 Agency Obligations....................... -- 75,388,470 -- 75,388,470 U.S. Treasury Obligations................ -- 164,587,399 -- 164,587,399 Swap Agreements**........................ -- (12,499,678) -- (12,499,678) Futures Contracts**...................... $(1,217,029) -- -- (1,217,029) Forward Currency Contracts**............. -- 1,912,228 -- 1,912,228 ----------- -------------- -- -------------- TOTAL.................................... $(1,217,029) $1,141,602,425 -- $1,140,385,396 =========== ============== == ============== **Not reflected in the Schedule of Investments, valued at the unrealized appreciation/(depreciation) on the investment. (Note H) See accompanying Notes to Financial Statements. 185 DFA INVESTMENT DIMENSIONS GROUP INC. DFA COMMODITY STRATEGY PORTFOLIO CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES OCTOBER 31, 2014 (Amounts in thousands, except share and per share amounts) ASSETS: Investments at Value................................................................... $ 1,152,190 Temporary Cash......................................................................... 29,195 Foreign Currencies at Value............................................................ 3 Segregated Cash for Swaps Contracts.................................................... 7,316 Cash................................................................................... 8,652 Receivables: Investment Securities Sold........................................................... 40 Interest............................................................................. 8,027 Fund Shares Sold..................................................................... 6,071 Unrealized Gain on Forward Currency Contracts.......................................... 2,157 Prepaid Expenses and Other Assets...................................................... 41 ------------ Total Assets...................................................................... 1,213,692 ------------ LIABILITIES: Payables: Investment Securities Purchased...................................................... 5,000 Fund Shares Redeemed................................................................. 1,180 Due to Advisor....................................................................... 297 Futures Margin Variation............................................................. 196 Unrealized Loss on Swap Contracts...................................................... 12,500 Unrealized Loss on Forward Currency Contracts.......................................... 245 Accrued Expenses and Other Liabilities................................................. 83 ------------ Total Liabilities................................................................. 19,501 ------------ NET ASSETS............................................................................. $ 1,194,191 ============ SHARES OUTSTANDING, $0.01 PAR VALUE (1)................................................ 149,317,618 ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE............................... $ 8.00 ============ Investments at Cost.................................................................... $ 1,157,312 ============ Foreign Currencies at Cost............................................................. $ 3 ============ NET ASSETS CONSIST OF: Paid-In Capital........................................................................ $ 1,204,372 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income). 5,939 Accumulated Net Realized Gain (Loss)................................................... 903 Net Unrealized Foreign Exchange Gain (Loss)............................................ 1,816 Net Unrealized Appreciation (Depreciation)............................................. (18,839) ------------ NET ASSETS............................................................................. $ 1,194,191 ============ (1) NUMBER OF SHARES AUTHORIZED........................................................ 300,000,000 ============ See accompanying Notes to Financial Statements. 186 DFA INVESTMENT DIMENSIONS GROUP INC. DFA COMMODITY STRATEGY PORTFOLIO CONSOLIDATED STATEMENT OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2014 (Amounts in thousands) Investment Income Interest.......................................................................................... $ 9,845 -------- Total Investment Income........................................................................ 9,845 -------- Expenses Investment Advisory Services Fees................................................................. 3,648 Accounting & Transfer Agent Fees.................................................................. 61 Custodian Fees.................................................................................... 39 Filing Fees....................................................................................... 133 Shareholders' Reports............................................................................. 48 Directors'/Trustees' Fees & Expenses.............................................................. 7 Professional Fees................................................................................. 30 Other............................................................................................. 9 -------- Total Expenses................................................................................. 3,975 -------- Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor (Note D). (640) Fees Paid Indirectly.............................................................................. (12) -------- Net Expenses...................................................................................... 3,323 -------- Net Investment Income (Loss)...................................................................... 6,522 -------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on:...................................................................... Investment Securities Sold...................................................................... 2,967 Futures......................................................................................... (2,034) Swap Contracts.................................................................................. (49,078) Foreign Currency Transactions................................................................... 2,905 Change in Unrealized Appreciation (Depreciation) of:.............................................. Investment Securities and Foreign Currency...................................................... (7,904) Futures......................................................................................... (649) Swap Contracts.................................................................................. (6,914) Translation of Foreign Currency Denominated Amounts............................................. 2,590 -------- Net Realized and Unrealized Gain (Loss)........................................................... (58,117) -------- Net Increase (Decrease) in Net Assets Resulting from Operations..................................... $(51,595) ======== See accompanying Notes to Financial Statements. 187 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, 2014 2013 ---------- --------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)......................................................... $ 6,522 $ 4,128 Net Realized Gain (Loss) on: Investment Securities Sold......................................................... 2,967 952 Futures............................................................................ (2,034) (1,683) Swap Contracts..................................................................... (49,078) (68,369) Foreign Currency Transactions...................................................... 2,905 (1,229) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency......................................... (7,904) 75 Futures............................................................................ (649) (717) Swap Contracts..................................................................... (6,914) (6,861) Translation of Foreign Currency Denominated Amounts................................ 2,590 715 ---------- --------- Net Increase (Decrease) in Net Assets Resulting from Operations................... (51,595) (72,989) ---------- --------- Distributions From: Net Investment Income: Institutional Class Shares......................................................... (4,154) (2,493) Net Short-Term Gains: Institutional Class Shares......................................................... (379) (472) Net Long-Term Gains: Institutional Class Shares......................................................... (474) (472) ---------- --------- Total Distributions............................................................... (5,007) (3,437) ---------- --------- Capital Share Transactions (1): Shares Issued........................................................................ 761,756 552,864 Shares Issued in Lieu of Cash Distributions.......................................... 4,915 3,267 Shares Redeemed...................................................................... (302,192) (151,470) ---------- --------- Net Increase (Decrease) from Capital Share Transactions........................... 464,479 404,661 ---------- --------- Total Increase (Decrease) in Net Assets........................................... 407,877 328,235 Net Assets Beginning of Year.................................................................... 786,314 458,079 ---------- --------- End of Year.......................................................................... $1,194,191 $ 786,314 ========== ========= (1) Shares Issued and Redeemed: Shares Issued........................................................................ 90,096 63,019 Shares Issued in Lieu of Cash Distributions.......................................... 566 366 Shares Redeemed...................................................................... (36,041) (17,417) ---------- --------- Net Increase (Decrease) from Shares Issued and Redeemed........................... 54,621 45,968 ========== ========= Undistributed Net Investment Income (Distributions in Excess of Net Investment Income). $ 5,939 $ 1,500 See accompanying Notes to Financial Statements. 188 DFA INVESTMENT DIMENSIONS GROUP INC. DFA COMMODITY STRATEGY PORTFOLIO CONSOLIDATED FINANCIAL HIGHLIGHTS (for a share outstanding throughout each period) Year Year Year Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, 2014 2013 2012 ------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................................... $ 8.30 $ 9.40 $ 9.77 ---------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)............................................. 0.06 0.06 0.07 Net Gains (Losses) on Securities (Realized and Unrealized)................... (0.31) (1.10) (0.37) ---------- -------- -------- Total from Investment Operations............................................ (0.25) (1.04) (0.30) ------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income........................................................ (0.04) (0.04) (0.06) Net Realized Gains........................................................... (0.01) (0.02) (0.01) ---------- -------- -------- Total Distributions......................................................... (0.05) (0.06) (0.07) ------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period................................................. $ 8.00 $ 8.30 $ 9.40 =============================================================================== ========== ======== ======== Total Return................................................................... (3.08)% (11.15)% (3.08)% ------------------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands).......................................... $1,194,191 $786,314 $458,079 Ratio of Expenses to Average Net Assets........................................ 0.33% 0.34% 0.35% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)................................................................... 0.39% 0.40% 0.41% Ratio of Net Investment Income to Average Net Assets........................... 0.65% 0.66% 0.79% Portfolio Turnover Rate........................................................ 104% 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 Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor 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. 189 DFA INVESTMENT DIMENSIONS GROUP INC. NOTES TO CONSOLIDATED 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-seven 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 agreements will be valued at the price provided by an independent third-party pricing service or source. If a price is not available from an independent third-party pricing service or source, the swap agreement will be 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. 190 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, 2014, there were no significant transfers between Level 1 and Level 2 and no significant 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, 2014, 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. 191 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 N 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, 2014, the Portfolio held a $243,966,964 investment in the Subsidiary, representing 20.10% 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. 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, 2014, 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 "Fee Waiver 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, 2015, and may only be terminated by the Fund's Board of Directors prior to that date. The Fee Waiver Agreement will continue in effect from year to year thereafter unless terminated by the Fund or the Advisor. At October 31, 2014, there were no previously waived fees subject 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, 2014, approximately $640 (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, 2014, expenses reduced were as follows (amounts in thousands): Fees Paid Indirectly ---------- DFA Commodity Strategy Portfolio. $12 192 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, 2014, the total related amounts paid by the Fund to the CCO were $262 (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, 2014, 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. $8 F. Purchases and Sales of Securities: For the year ended October 31, 2014, 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. $212,151 $458,903 $1,165,997 $516,202 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, 2014, 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 book 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. $(48,297) $2,071 $46,226 193 The tax character of dividends and distributions declared and paid during the years ended October 31, 2013 and October 31, 2014 were as follows (amounts in thousands): Net Investment Income and Short-Term Long-Term Tax Exempt Capital Gains Capital Gains Income Total -------------- ------------- ---------- ------ DFA Commodity Strategy Portfolio 2013............................. $2,965 $472 -- $3,437 2014............................. 4,533 474 -- 5,007 At October 31, 2014, 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 -------------- ------------- ----- DFA Commodity Strategy Portfolio. $705 $57 $762 At October 31, 2014, 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 Carryforward (Depreciation) Losses) -------------- ------------- ------------ -------------- ------------- DFA Commodity Strategy Portfolio. $7,964 $889 -- $(18,924) $(10,071) 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, 2014, the Portfolio did not have any capital loss carryforwards. At October 31, 2014, 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, as follows (amounts in thousands): Net Unrealized Federal Unrealized Unrealized Appreciation Tax Cost Appreciation Depreciation (Depreciation) ---------- ------------ ------------ -------------- DFA Commodity Strategy Portfolio. $1,157,312 $1,471 $(6,593) $(5,122) 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. 194 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. 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 Statement 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 Statement of Operations as a net realized gain or loss on foreign currency transactions. At October 31, 2014, 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 2014 Gain (Loss) ---------- -------- ------------------- --------- ----------- ----------- 11/25/14 (7,100) Canadian Dollar (1) $ (6,307) $ (6,296) $ 11 11/14/14 (11,269) New Zealand Dollar (2) (8,907) (8,776) 131 11/03/14 47,418 UK Pound Sterling (3) 75,972 75,855 (117) 11/03/14 (47,418) UK Pound Sterling (1) (76,835) (75,855) 980 11/04/14 55,373 UK Pound Sterling (1) 88,453 88,580 127 11/04/14 (55,373) UK Pound Sterling (1) (89,372) (88,580) 792 12/03/14 (47,748) UK Pound Sterling (3) (76,480) (76,364) 116 12/04/14 (55,464) UK Pound Sterling (1) (88,577) (88,705) (128) --------- --------- ------ $(182,053) $(180,141) $1,912 ========= ========= ====== Counterparties: (1)Citibank, N.A. (2)Bank of America Corp. (3)State Street Bank and Trust * During the year ended October 31, 2014, the Portfolio's average contract amount of forward currency contracts was $226,502 (in thousands). **Positive Currency Amount represents a purchase contract and a Currency Amount in parentheses represents a sale contract. 195 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 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. 196 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 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 197 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, 2014, 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.... 02/12/15 54 $ 4,719 $ 12 CBT Wheat Futures.......... 03/13/15 98 2,674 20 Coffee 'C' Futures......... 03/19/15 47 3,389 (33) Copper Futures............. 03/27/15 79 6,002 (73) Corn Futures............... 03/13/15 300 5,839 82 Cotton No.2 Futures........ 03/09/15 33 1,038 9 Gasoline RBOB Futures...... 12/31/14 28 2,523 (132) Gold 100 oz Futures........ 02/25/15 83 9,731 (479) KCB Wheat Futures.......... 03/13/15 33 988 (8) LME Nickel Futures......... 01/19/15 46 4,355 (253) LME Nickel Futures......... 11/19/14 46 4,342 (807) LME Nickel Futures......... 01/19/15 (24) (2,272) 51 LME Nickel Futures......... 11/19/14 (46) (4,342) 630 LME Prime Aluminum Futures. 11/19/14 196 10,117 230 LME Prime Aluminum Futures. 01/19/15 193 9,878 462 LME Prime Aluminum Futures. 01/19/15 (101) (5,169) (308) LME Prime Aluminum Futures. 11/19/14 (196) (10,116) (284) LME Zinc Futures........... 01/19/15 83 4,796 57 LME Zinc Futures........... 11/19/14 83 4,794 (56) LME Zinc Futures........... 01/19/15 (43) (2,485) (44) LME Zinc Futures........... 11/19/14 (83) (4,794) 3 Lean Hogs Futures.......... 02/13/15 49 1,726 (23) Live Cattle Futures........ 02/27/15 53 3,521 (31) NY Harbor ULSD Futures..... 12/31/14 27 2,843 (73) Natural Gas Futures........ 12/29/14 197 7,799 (211) Silver Futures............. 03/27/15 37 2,990 (203) Soybean Futures............ 01/14/15 79 4,145 373 Soybean Meal Futures....... 01/14/15 57 2,090 297 Soybean Oil Futures........ 01/14/15 110 2,311 126 Sugar #11 Futures.......... 02/27/15 195 3,503 (139) WTI Crude Futures.......... 12/19/14 80 6,434 (412) -------- ------- $ 83,369 $(1,217) ======== ======= The Subsidiary's securities have been segregated as collateral for open futures contracts. * During the year ended October 31, 2014 the Subsidiary's average notional contract amount of outstanding futures contracts was $72,751 (in thousands). 198 At October 31, 2014, the Subsidiary had the following outstanding commodity total return swaps, which are typically on custom commodity indices that include exposure to various precious metal, energy and agricultural commodities (dollar amounts in thousands): Unrealized Commodity Expiration Notional Appreciation Counterparty Exposure Date Amount* (Depreciation) ------------ --------- ---------- ----------- -------------- Bank of America................. Index** 12/31/14 USD $ (90,558) $ (1,024) Citibank, N.A................... Index** 12/31/14 USD (216,371) (2,422) Credit Suisse................... Index** 11/25/14 USD (95,104) (1,068) Credit Suisse................... Index** 11/25/14 USD (200,339) (2,250) Deutsche Bank AG, London Branch. Index** 11/25/14 USD (240,817) (2,706) UBS AG.......................... Index** 01/30/15 USD (270,642) (3,030) ----------- -------- $(1,113,831) $(12,500) =========== ======== * During the year ended October 31, 2014 the Subsidiary's average notional value of outstanding swap contracts was $1,037,960 (in thousands). **Swap is exposed to the 22 commodities in the Bloomberg Commodity Index Total Return. The following is a summary of the location of derivatives on the Portfolio's Statement of Assets and Liabilities as of October 31, 2014: Location on the Statement of Assets and Liabilities --------------------------------------------------- Derivative Type Asset Derivatives Liability Derivatives --------------- ------------------------ ------------------------ Commodity Futures Payables: Futures Margin Contracts Variation Foreign Exchange Unrealized Gain on Unrealized Loss on Contracts Forward Currency Forward Currency Contracts Contracts Commodity Swap Contracts Unrealized Loss on Swap Contracts The following is a summary of the Portfolio's derivative instrument holdings categorized by primary risk exposure as of October 31, 2014 (amounts in thousands): Asset Derivatives Value ----------------------------- Total Value Foreign Commodity Commodity at Exchange Futures Swap October 31, 2014 Contracts Contracts Contracts - ---------------- --------- --------- --------- Dimensional Cayman Commodity Fund I, LTD.. $ 4,509 $2,157 $ 2,352* -- Liability Derivatives Value - ----------------------------- Total Value Foreign Commodity Commodity at Exchange Futures Swap October 31, 2014 Contracts Contracts Contracts - ---------------- --------- --------- --------- Dimensional Cayman Commodity Fund I, LTD.. $(16,314) $ (245) $(3,569)* $(12,500) * Includes cumulative appreciation (depreciation) of futures contracts. Only current day's margin variation is reporting within the Statements of Assets and Liabilities. 199 The following is a summary of the location on the Portfolio's Statement of Operations of realized and change in unrealized gains and losses from the Portfolio's derivative instrument holdings for the year ended October 31, 2014: Derivative Type Location of Gain (Loss) on Derivatives Recognized in Income --------------- ----------------------------------------------------------- Commodity Futures 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 Commodity Swap 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, 2014 (amounts in thousands): Realized Gain (Loss) on Derivatives Recognized in Income -------------------------------------- Foreign Commodity Commodity Exchange Futures Swap Total Contracts Contracts Contracts -------- --------- --------- --------- Dimensional Cayman Commodity Fund I, LTD.. $(48,117) $2,995 $(2,034) $(49,078) Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income ------------------------------------- Foreign Commodity Commodity Exchange Futures Swap Total Contracts Contracts Contracts ------- --------- --------- --------- Dimensional Cayman Commodity Fund I, LTD.. $(4,866) $2,697 $(649) $(6,914) Offsetting of Derivative Assets and Derivative Liabilities The Portfolios are subject to master netting agreements ("MNA") with certain counterparties which govern the terms of derivative transactions and reduce the counterparty risk associated with such transactions by specifying offsetting mechanisms and collateral posting arrangements at pre-arranged exposure levels. Since different types of transactions have different mechanics and are sometimes traded out of different legal entities of a particular counterparty organization, each type of transaction may be covered by a different MNA, possibly resulting in the need for multiple agreements with a single counterparty. As the MNA's are specific to unique operations of different asset types, they allow each Portfolio to close out and net its total exposure to a counterparty in the event of a default with respect to all the transactions governed under a single MNA with a counterparty. Certain MNA's contain provisions which allow for the net settlement of receivable and payable positions with the same counterparty if defined conditions are met. The following table presents the Portfolio's gross and net amount of assets and liabilities available for offset under netting arrangements as well as any related collateral received or pledged by the Portfolio as of October 31, 2014 (Amounts in thousands): Gross Amounts Not Offset Gross Amounts Not Offset in the Consolidated in the Consolidated Statements of Assets and Statements of Assets and Liabilities Liabilities Gross ------------------------- Gross ------------------------ Amounts of Cash Amounts of Cash Recognized Financial Collateral Net Recognized Financial Collateral Description Assets(a) Instruments(b) Received Amount(c) Liabilities(a) Instruments(d) Pledged ----------- ---------- -------------- ---------- --------- -------------- -------------- ---------- Assets Liabilities ---------------------------------------------- ---------------------------------------- DFA Commodity Strategy Portfolio Forward Currency Contracts....... $2,157 $(245) -- $1,912 $ 245 $ (245) -- Swap Contracts................... -- -- -- -- 12,500 (5,184)(f) (7,316) Net Description Amount(e) ----------- --------- ---------- DFA Commodity Strategy Portfolio Forward Currency Contracts....... -- Swap Contracts................... -- 200 (a)No amounts have been netted against the gross amounts recognized in the Consolidated Statements of Assets and Liabilities. (b)Represents the amount of assets that could be offset by liabilities with the same counterparty under master netting or similar agreements that management elects not to offset on the Consolidated Statements of Assets and Liabilities. (c)Represents the net amount due from counterparties in the event of default. (d)Represents the amount of liabilities that could be offset by assets with the same counterparty under master netting or similar agreements that management elects not to offset on the Statements of Assets and Liabilities as well as pledged non-cash collateral. (e)Represents the net amount due to counterparties in the event of default. (f)The actual collateral received is greater than the amount shown here due to overcollateralization. I. 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 agreement for the line of credit expires on March 2, 2015. The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit 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 line of credit agreement expires on January 9, 2015. There were no borrowings by the Portfolio under the lines of credit during the year ended October 31, 2014. 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. Other: At October 31, 2014, three shareholders held 85% 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. L. 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. 201 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors of DFA Investment Dimensions Group Inc. and Shareholders of DFA Commodity Strategy Portfolio: 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, 2014, 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, 2014 by correspondence with the custodian and brokers, provide a reasonable basis for our opinion. PricewaterhouseCoopers LLP Philadelphia, Pennsylvania December 19, 2014 202 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, 2014 [CHART] DFA International Value MSCI World ex USA Index Portfolio - Class R2 (net div.) ----------------------- ------------------------ 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 8/31/2013 8,902 9,333 9/30/2013 9,570 9,993 10/31/2013 9,901 10,328 11/30/2013 9,931 10,391 12/31/2013 10,149 10,548 1/31/2014 9,775 10,122 2/28/2014 10,328 10,675 3/31/2014 10,249 10,627 4/30/2014 10,420 10,794 5/31/2014 10,529 10,961 6/30/2014 10,661 11,117 7/31/2014 10,419 10,919 8/31/2014 10,419 10,927 9/30/2014 9,956 10,479 10/31/2014 9,782 10,312 Past performance is not predictive of future performance. The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Since would pay on fund distributions or the Total Return Year Years Inception redemption of fund shares. ------------------------------------------------------------ MSCI data copyright MSCI 2014, all -1.21% 5.55% -0.34% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- DFA INTERNATIONAL VALUE PORTFOLIO -- INSTITUTIONAL CLASS VS. MSCI WORLD EX USA INDEX (NET DIVIDENDS) October 31, 2004-October 31, 2014 [CHART] DFA International Value MSCI World ex USA Index Portfolio-Institutional Class (net div.) ----------------------------- ----------------------- 10/31/2004 $10,000 $10,000 11/30/2004 10,737 10,665 12/31/2004 11,272 11,116 1/31/2005 11,155 10,897 2/28/2005 11,595 11,382 3/31/2005 11,305 11,123 4/30/2005 10,961 10,840 5/31/2005 10,975 10,859 6/30/2005 11,147 11,037 7/31/2005 11,643 11,393 8/31/2005 12,027 11,708 9/30/2005 12,363 12,242 10/31/2005 12,173 11,847 11/30/2005 12,391 12,160 12/31/2005 12,993 12,724 1/31/2006 13,878 13,529 2/28/2006 14,008 13,483 3/31/2006 14,598 13,911 4/30/2006 15,332 14,576 5/31/2006 14,713 14,022 6/30/2006 14,612 14,004 7/31/2006 14,839 14,136 8/31/2006 15,343 14,537 9/30/2006 15,557 14,526 10/31/2006 16,244 15,100 11/30/2006 16,776 15,549 12/31/2006 17,429 15,995 1/31/2007 17,753 16,093 2/28/2007 17,738 16,222 3/31/2007 18,307 16,637 4/30/2007 19,227 17,394 5/31/2007 19,883 17,781 6/30/2007 19,737 17,798 7/31/2007 19,186 17,552 8/31/2007 18,964 17,298 9/30/2007 19,951 18,281 10/31/2007 20,913 19,076 11/30/2007 19,643 18,330 12/31/2007 19,215 17,985 1/31/2008 17,658 16,364 2/29/2008 17,429 16,660 3/31/2008 17,639 16,422 4/30/2008 18,422 17,335 5/31/2008 18,430 17,598 6/30/2008 16,600 16,230 7/31/2008 16,130 15,652 8/31/2008 15,450 15,047 9/30/2008 13,646 12,874 10/31/2008 10,223 10,196 11/30/2008 9,595 9,643 12/31/2008 10,312 10,152 1/31/2009 8,892 9,204 2/28/2009 7,800 8,273 3/31/2009 8,647 8,818 4/30/2009 10,235 9,955 5/31/2009 11,757 11,214 6/30/2009 11,581 11,098 7/31/2009 12,951 12,140 8/31/2009 13,686 12,722 9/30/2009 14,390 13,247 10/31/2009 13,811 13,034 11/30/2009 14,214 13,356 12/31/2009 14,381 13,569 1/31/2010 13,546 12,933 2/28/2010 13,588 12,920 3/31/2010 14,671 13,752 4/30/2010 14,418 13,547 5/31/2010 12,721 12,052 6/30/2010 12,500 11,878 7/31/2010 14,059 12,976 8/31/2010 13,365 12,588 9/30/2010 14,797 13,795 10/31/2010 15,322 14,287 11/30/2010 14,539 13,682 12/31/2010 15,901 14,783 1/31/2011 16,576 15,102 2/28/2011 17,121 15,662 3/31/2011 16,649 15,348 4/30/2011 17,533 16,184 5/31/2011 16,900 15,704 6/30/2011 16,664 15,480 7/31/2011 16,126 15,225 8/31/2011 14,397 13,938 9/30/2011 12,821 12,538 10/31/2011 14,038 13,758 11/30/2011 13,585 13,122 12/31/2011 13,222 12,979 1/31/2012 14,110 13,679 2/29/2012 14,837 14,431 3/31/2012 14,721 14,325 4/30/2012 14,191 14,081 5/31/2012 12,438 12,476 6/30/2012 13,314 13,294 7/31/2012 13,259 13,459 8/31/2012 13,800 13,843 9/30/2012 14,290 14,263 10/31/2012 14,474 14,363 11/30/2012 14,695 14,665 12/31/2012 15,418 15,109 1/31/2013 16,133 15,852 2/28/2013 15,650 15,694 3/31/2013 15,696 15,818 4/30/2013 16,469 16,539 5/31/2013 16,264 16,168 6/30/2013 15,690 15,563 7/31/2013 16,762 16,391 8/31/2013 16,638 16,180 9/30/2013 17,893 17,323 10/31/2013 18,512 17,904 11/30/2013 18,579 18,014 12/31/2013 18,982 18,285 1/31/2014 18,283 17,547 2/28/2014 19,327 18,505 3/31/2014 19,187 18,422 4/30/2014 19,508 18,712 5/31/2014 19,722 19,002 6/30/2014 19,960 19,272 7/31/2014 19,515 18,928 8/31/2014 19,515 18,943 9/30/2014 18,661 18,165 10/31/2014 18,333 17,877 Past performance is not predictive of future performance. The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. ------------------------------------------------------------- MSCI data copyright MSCI 2014, all -0.97% 5.83% 6.25% rights reserved. -------------------------------------------------------------------------------- 203 DIMENSIONAL INVESTMENT GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- U.S. LARGE COMPANY PORTFOLIO VS. S&P 500 INDEX October 31, 2004-October 31, 2014 [CHART] U.S. Large Company Portfolio S&P 500 Index ------------------ ------------- 10/31/2004 $10,000 $10,000 11/30/2004 10,406 10,405 12/31/2004 10,758 10,759 1/31/2005 10,496 10,496 2/28/2005 10,724 10,717 3/31/2005 10,530 10,527 4/30/2005 10,336 10,328 5/31/2005 10,656 10,656 6/30/2005 10,675 10,672 7/31/2005 11,075 11,069 8/31/2005 10,972 10,968 9/30/2005 11,060 11,056 10/31/2005 10,876 10,872 11/30/2005 11,290 11,283 12/31/2005 11,293 11,287 1/31/2006 11,594 11,586 2/28/2006 11,617 11,618 3/31/2006 11,763 11,762 4/30/2006 11,926 11,920 5/31/2006 11,578 11,577 6/30/2006 11,600 11,593 7/31/2006 11,670 11,664 8/31/2006 11,950 11,942 9/30/2006 12,251 12,250 10/31/2006 12,650 12,649 11/30/2006 12,884 12,889 12/31/2006 13,069 13,070 1/31/2007 13,269 13,268 2/28/2007 13,010 13,008 3/31/2007 13,147 13,154 4/30/2007 13,738 13,737 5/31/2007 14,211 14,216 6/30/2007 13,982 13,980 7/31/2007 13,542 13,546 8/31/2007 13,744 13,749 9/30/2007 14,259 14,264 10/31/2007 14,486 14,490 11/30/2007 13,877 13,885 12/31/2007 13,790 13,788 1/31/2008 12,961 12,961 2/29/2008 12,541 12,540 3/31/2008 12,494 12,486 4/30/2008 13,096 13,094 5/31/2008 13,265 13,264 6/30/2008 12,152 12,146 7/31/2008 12,056 12,044 8/31/2008 12,225 12,218 9/30/2008 11,149 11,129 10/31/2008 9,284 9,260 11/30/2008 8,626 8,596 12/31/2008 8,721 8,687 1/31/2009 7,994 7,955 2/28/2009 7,144 7,108 3/31/2009 7,771 7,730 4/30/2009 8,515 8,470 5/31/2009 8,998 8,944 6/30/2009 9,009 8,962 7/31/2009 9,695 9,640 8/31/2009 10,043 9,988 9/30/2009 10,420 10,360 10/31/2009 10,219 10,168 11/30/2009 10,833 10,778 12/31/2009 11,042 10,986 1/31/2010 10,652 10,591 2/28/2010 10,979 10,919 3/31/2010 11,644 11,578 4/30/2010 11,821 11,760 5/31/2010 10,873 10,821 6/30/2010 10,305 10,255 7/31/2010 11,027 10,973 8/31/2010 10,533 10,478 9/30/2010 11,469 11,413 10/31/2010 11,903 11,847 11/30/2010 11,903 11,849 12/31/2010 12,698 12,641 1/31/2011 13,006 12,940 2/28/2011 13,442 13,384 3/31/2011 13,458 13,389 4/30/2011 13,844 13,786 5/31/2011 13,689 13,629 6/30/2011 13,457 13,402 7/31/2011 13,186 13,130 8/31/2011 12,475 12,417 9/30/2011 11,592 11,544 10/31/2011 12,865 12,805 11/30/2011 12,826 12,777 12/31/2011 12,965 12,908 1/31/2012 13,541 13,486 2/29/2012 14,118 14,069 3/31/2012 14,590 14,532 4/30/2012 14,499 14,441 5/31/2012 13,619 13,573 6/30/2012 14,182 14,132 7/31/2012 14,380 14,329 8/31/2012 14,697 14,652 9/30/2012 15,076 15,030 10/31/2012 14,797 14,753 11/30/2012 14,890 14,838 12/31/2012 15,016 14,973 1/31/2013 15,793 15,749 2/28/2013 16,007 15,963 3/31/2013 16,608 16,561 4/30/2013 16,930 16,881 5/31/2013 17,320 17,275 6/30/2013 17,094 17,043 7/31/2013 17,957 17,911 8/31/2013 17,431 17,392 9/30/2013 17,980 17,937 10/31/2013 18,807 18,762 11/30/2013 19,377 19,334 12/31/2013 19,871 19,823 1/31/2014 19,175 19,138 2/28/2014 20,062 20,013 3/31/2014 20,225 20,181 4/30/2014 20,376 20,331 5/31/2014 20,842 20,808 6/30/2014 21,271 21,238 7/31/2014 20,982 20,945 8/31/2014 21,821 21,783 9/30/2014 21,511 21,477 10/31/2014 22,036 22,002 Past performance is not predictive of future performance. The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. ---------------------------------------------------- The S&P data are provided by 17.17% 16.61% 8.22% Standard & Poor's Index Services Group. -------------------------------------------------------------------------------- 204 DIMENSIONAL INVESTMENT GROUP INC. MANAGEMENT'S DISCUSSION AND ANALYSIS (Unaudited) International Equity Market Review 12 Months Ended October 31, 2014 Performance of non-US developed markets was generally negative for the period. Only large cap growth stocks had positive returns. As measured by the MSCI world ex USA indices, large cap stocks outperformed small cap stocks, and growth stocks outperformed value stocks. 12 Months Ended October 31, 2014 -------------------------------- Return in U.S. Dollars - ---------------------- MSCI World ex USA Index........... -0.15% MSCI World ex USA Small Cap Index. -2.14% MSCI World ex USA Value Index..... -0.62% MSCI World ex USA Growth Index.... 0.31% During the period, the U.S. dollar (USD) appreciated against developed markets currencies, detracting from USD-denominated returns of non-US securities in developed markets. 12 Months Ended October 31, 2014 -------------------------------- Ten Largest Foreign Developed Markets by Market Cap Local Return Return in U.S. Dollars --------------------------------------------------- ------------ ---------------------- United Kingdom.................... 0.55% 0.12% Japan............................. 13.47% -0.70% Canada............................ 12.71% 4.26% France............................ 1.34% -6.61% Switzerland....................... 9.61% 3.13% Germany........................... 2.52% -5.52% Australia......................... 6.74% -0.92% Spain............................. 10.44% 1.78% Hong Kong......................... 10.24% 10.21% Sweden............................ 13.18% -1.03% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2014, all rights reserved. Emerging markets generally had stronger performance over the period than developed markets with positive returns in each market segment except large cap value. As measured by the MSCI emerging markets indices, small cap stocks outperformed large cap stocks, and growth stocks outperformed value stocks. 12 Months Ended October 31, 2014 -------------------------------- Return in U.S. Dollars - ---------------------- MSCI Emerging Markets Index........... 0.64% MSCI Emerging Markets Small Cap Index. 3.18% MSCI Emerging Markets Value Index..... -0.63% MSCI Emerging Markets Growth Index.... 1.89% During the period, the U.S. dollar (USD) generally appreciated against most emerging markets currencies, particularly those in Eastern Europe, decreasing USD denominated returns in emerging markets. 205 12 Months Ended October 31, 2014 -------------------------------- Ten Largest Emerging Markets by Market Cap Local Return Return in U.S. Dollars ------------------------------------------ ------------ ---------------------- China........................ 6.44% 6.41% Korea........................ -6.24% -6.94% Taiwan....................... 13.99% 10.11% Brazil....................... -0.30% -9.65% South Africa................. 17.13% 6.09% India........................ 29.27% 29.39% Mexico....................... 10.96% 6.98% Russia....................... -4.56% -24.40% Malaysia..................... 3.85% -0.37% Indonesia.................... 17.88% 9.95% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2014, 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 is designed 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, 2014, the Master Fund held approximately 550 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, 2014, total returns were -1.21% for the Portfolio's Class R2 shares, -0.97% for the Portfolio's Institutional Class shares, and -0.15% for the MSCI World ex USA Index (net dividends). As a result of the Master Fund's diversified investment approach, performance was determined principally by broad trends in international equity markets rather than the behavior of a limited number of stocks. The Master Fund had significantly greater exposure than the Index to value stocks. Value stocks, particularly those in Canada, generally underperformed the Index, which detracted from the Portfolio's relative performance. U.S. Equity Market Review 12 Months Ended October 31, 2014 U.S. equities had strong gains during the period. The broad U.S. equity market, as measured by the Russell 3000(R) Index, had positive returns in 9 of the 12 months. As measured by the Russell indices, large cap stocks outperformed small cap stocks. Total Return for 12 Months Ended October 31, 2014 ------------------------------------------------- Russell 3000(R) Index........................ 16.07% Russell Microcap(R) Index (micro cap stocks). 7.34% Russell 2000(R) Index (small cap stocks)..... 8.06% Russell 1000(R) Index (large cap stocks)..... 16.78% Dow Jones U.S. Select REIT Index/SM/......... 20.69% 206 Growth stocks slightly outperformed value stocks as measured by the Russell indices. Total Return for 12 Months Ended October 31, 2014 ------------------------------------------------- Russell 2000(R) Value Index (small cap value stocks)... 7.89% Russell 2000(R) Growth Index (small cap growth stocks). 8.26% Russell 1000(R) Value Index (large cap value stocks)... 16.46% Russell 1000(R) Growth Index (large cap growth stocks). 17.11% ---------- Source: Russell data copyright (C) Russell Investment Group 1995-2014, 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 period 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, 2014, the total return was 17.17% for the Portfolio and 17.27% 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. 207 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, 2014 EXPENSE TABLES Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- DFA International Value Portfolio** ----------------------------------- Actual Fund Return Class R2 Shares.................... $1,000.00 $ 938.70 0.68% $3.32 Institutional Class Shares......... $1,000.00 $ 939.80 0.43% $2.10 Hypothetical 5% Annual Return Class R2 Shares.................... $1,000.00 $1,021.78 0.68% $3.47 Institutional Class Shares......... $1,000.00 $1,023.04 0.43% $2.19 208 DISCLOSURE OF FUND EXPENSES CONTINUED Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- U.S. Large Company Portfolio ---------------------------- Actual Fund Return............ $1,000.00 $1,081.50 0.08% $0.42 Hypothetical 5% Annual Return. $1,000.00 $1,024.80 0.08% $0.41 ---------- * 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). 209 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 29, 2014. 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....................... 11.7% Consumer Staples............................. 9.6% Energy....................................... 9.2% Financials................................... 14.1% Health Care.................................. 14.3% Industrials.................................. 10.4% Information Technology....................... 19.5% Materials.................................... 3.3% Real Estate Investment Trusts................ 2.3% Telecommunication Services................... 2.4% Utilities.................................... 3.2% ----- 100.0% 210 DFA INTERNATIONAL VALUE PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Value+ -------------- AFFILIATED INVESTMENT COMPANY -- (100.0%) Investment in The DFA International Value Series of The DFA Investment Trust Company.................................. $6,992,010,787 -------------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANY (Cost $6,241,548,980)........................................ $6,992,010,787 ============== Summary of the Portfolio's Master Fund's investments as of October 31, 2014, based on their valuation inputs, is located within this report (See Security Valuation Note). See accompanying Notes to Financial Statements. 211 U.S. LARGE COMPANY PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (94.3%) Consumer Discretionary -- (11.0%) * Amazon.com, Inc................... 119,627 $ 36,541,263 0.6% Comcast Corp. Class A............. 817,188 45,231,356 0.8% Home Depot, Inc. (The)............ 424,972 41,443,269 0.7% McDonald's Corp................... 310,042 29,060,237 0.5% Walt Disney Co. (The)............. 498,635 45,565,266 0.8% Other Securities.................. 462,380,792 8.2% ------------ ----- Total Consumer Discretionary.......... 660,222,183 11.6% ------------ ----- Consumer Staples -- (9.1%) Altria Group, Inc................. 626,269 30,273,843 0.5% Coca-Cola Co. (The)............... 1,246,361 52,197,599 0.9% CVS Health Corp................... 365,676 31,378,658 0.5% PepsiCo, Inc...................... 475,765 45,754,320 0.8% Philip Morris International, Inc.. 493,239 43,903,203 0.8% Procter & Gamble Co. (The)........ 854,935 74,610,177 1.3% Wal-Mart Stores, Inc.............. 498,575 38,026,315 0.7% Other Securities.................. 229,904,226 4.1% ------------ ----- Total Consumer Staples................ 546,048,341 9.6% ------------ ----- Energy -- (8.7%) Chevron Corp...................... 599,583 71,919,981 1.3% ConocoPhillips.................... 388,233 28,011,011 0.5% Exxon Mobil Corp.................. 1,346,567 130,226,495 2.3% Schlumberger, Ltd................. 409,347 40,386,175 0.7% Other Securities.................. 249,849,733 4.4% ------------ ----- Total Energy.......................... 520,393,395 9.2% ------------ ----- Financials -- (13.3%) American Express Co............... 284,188 25,562,711 0.5% Bank of America Corp.............. 3,320,301 56,976,365 1.0% * Berkshire Hathaway, Inc. Class B.. 575,615 80,678,198 1.4% Citigroup, Inc.................... 957,275 51,242,931 0.9% JPMorgan Chase & Co............... 1,187,616 71,827,016 1.3% Wells Fargo & Co.................. 1,499,982 79,634,044 1.4% Other Securities.................. 433,133,681 7.6% ------------ ----- Total Financials...................... 799,054,946 14.1% ------------ ----- Health Care -- (13.5%) AbbVie, Inc....................... 502,575 31,893,410 0.6% Amgen, Inc........................ 239,844 38,897,900 0.7% Bristol-Myers Squibb Co........... 523,480 30,461,301 0.5% * Celgene Corp...................... 252,443 27,034,121 0.5% * Gilead Sciences, Inc.............. 477,306 53,458,272 0.9% Johnson & Johnson................. 890,499 95,977,982 1.7% Merck & Co., Inc.................. 910,816 52,772,679 0.9% Pfizer, Inc....................... 2,002,113 59,963,284 1.1% UnitedHealth Group, Inc........... 306,788 29,147,928 0.5% Other Securities.................. 389,334,935 6.9% ------------ ----- Total Health Care..................... 808,941,812 14.3% ------------ ----- Industrials -- (9.8%) 3M Co............................. 204,595 31,460,573 0.5% Boeing Co. (The).................. 211,605 26,431,581 0.5% 212 U.S. LARGE COMPANY PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Industrials -- (Continued) General Electric Co................................ 3,168,182 $ 81,770,777 1.4% Union Pacific Corp................................. 283,361 32,997,388 0.6% United Technologies Corp........................... 268,630 28,743,410 0.5% Other Securities................................... 387,881,602 6.9% -------------- ------ Total Industrials........................................ 589,285,331 10.4% -------------- ------ Information Technology -- (18.4%) Apple, Inc......................................... 1,890,655 204,190,740 3.6% Cisco Systems, Inc................................. 1,610,062 39,398,217 0.7% * Facebook, Inc. Class A............................. 657,792 49,327,822 0.9% * Google, Inc. Class A............................... 89,703 50,939,643 0.9% * Google, Inc. Class C............................... 89,695 50,146,681 0.9% Intel Corp......................................... 1,563,267 53,166,711 0.9% International Business Machines Corp............... 292,938 48,159,007 0.8% MasterCard, Inc. Class A........................... 310,783 26,028,076 0.5% Microsoft Corp..................................... 2,601,713 122,150,425 2.1% Oracle Corp........................................ 1,026,833 40,097,829 0.7% QUALCOMM, Inc...................................... 529,201 41,547,571 0.7% Visa, Inc. Class A................................. 155,436 37,526,913 0.7% Other Securities................................... 344,214,576 6.1% -------------- ------ Total Information Technology............................. 1,106,894,211 19.5% -------------- ------ Materials -- (3.1%) Other Securities................................... 185,987,511 3.3% -------------- ------ Real Estate Investment Trusts -- (2.2%) Other Securities................................... 130,277,329 2.3% -------------- ------ Telecommunication Services -- (2.2%) AT&T, Inc.......................................... 1,637,467 57,049,350 1.0% Verizon Communications, Inc........................ 1,308,847 65,769,562 1.2% Other Securities................................... 11,531,497 0.2% -------------- ------ Total Telecommunication Services......................... 134,350,409 2.4% -------------- ------ Utilities -- (3.0%) Other Securities................................... 178,957,404 3.2% -------------- ------ TOTAL COMMON STOCKS...................................... 5,660,412,872 99.9% -------------- ------ TEMPORARY CASH INVESTMENTS -- (0.9%) State Street Institutional Liquid Reserves, 0.077%. 54,720,884 54,720,884 1.0% -------------- ------ SECURITIES LENDING COLLATERAL -- (4.8%) (S)@ DFA Short Term Investment Fund..................... 24,630,465 284,974,480 5.0% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $3,041,361,577)................................ $6,000,108,236 105.9% ============== ====== 213 U.S. LARGE COMPANY PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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........ $ 660,222,183 -- -- $ 660,222,183 Consumer Staples.............. 546,048,341 -- -- 546,048,341 Energy........................ 520,393,395 -- -- 520,393,395 Financials.................... 799,054,946 -- -- 799,054,946 Health Care................... 808,941,812 -- -- 808,941,812 Industrials................... 589,285,331 -- -- 589,285,331 Information Technology........ 1,106,894,211 -- -- 1,106,894,211 Materials..................... 185,987,511 -- -- 185,987,511 Real Estate Investment Trusts. 130,277,329 -- -- 130,277,329 Telecommunication Services.... 134,350,409 -- -- 134,350,409 Utilities..................... 178,957,404 -- -- 178,957,404 Temporary Cash Investments.... 54,720,884 -- -- 54,720,884 Securities Lending Collateral... -- $284,974,480 -- 284,974,480 Futures Contracts**............. 2,610,591 -- -- 2,610,591 -------------- ------------ -- -------------- TOTAL........................... $5,717,744,347 $284,974,480 -- $6,002,718,827 ============== ============ == ============== **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. 214 DIMENSIONAL INVESTMENT GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2014 (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................................ $ 6,992,011 -- Investments at Value (including $0 and $300,787 of securities on loan, respectively). -- $ 5,660,413 Temporary Cash Investments at Value & Cost........................................... -- 54,721 Collateral from Securities on Loan Invested in Affiliate at Value & Cost............. -- 284,974 Segregated Cash for Futures Contracts................................................ -- 2,755 Receivables: Investment Securities Sold......................................................... -- 1,007 Dividends, Interest and Tax Reclaims............................................... -- 5,627 Securities Lending Income.......................................................... -- 37 Fund Shares Sold................................................................... 15,682 1,680 Futures Margin Variation........................................................... -- 684 Prepaid Expenses and Other Assets.................................................... 51 54 -------------- ------------ Total Assets.................................................................... 7,007,744 6,011,952 -------------- ------------ LIABILITIES: Payables: Due to Custodian................................................................... -- 51 Upon Return of Securities Loaned................................................... -- 284,974 Fund Shares Redeemed............................................................... 3,786 57,712 Due to Advisor..................................................................... 1,151 351 Accrued Expenses and Other Liabilities............................................... 393 490 -------------- ------------ Total Liabilities............................................................... 5,330 343,578 -------------- ------------ NET ASSETS........................................................................... $ 7,002,414 $ 5,668,374 ============== ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: Class R2 Shares -- based on net assets of $11,200 and $0 and shares outstanding of 605,992 and 0, respectively......................................................... $ 18.48 $ N/A ============== ============ NUMBER OF SHARES AUTHORIZED.......................................................... 100,000,000 N/A ============== ============ Institutional Class Shares -- based on net assets of $6,991,214 and $5,668,374 and shares outstanding of 378,416,143 and 355,660,908, respectively..................... $ 18.47 $ 15.94 ============== ============ NUMBER OF SHARES AUTHORIZED.......................................................... 1,500,000,000 900,000,000 ============== ============ Investments in Affiliated Investment Companies at Cost............................... $ 6,241,549 $ -- ============== ============ Investments at Cost.................................................................. $ -- $ 2,701,666 ============== ============ NET ASSETS CONSIST OF: Paid-In Capital...................................................................... $ 6,717,735 $ 2,993,680 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)............................................................................. 22,455 10,292 Accumulated Net Realized Gain (Loss)................................................. (487,555) (296,956) Net Unrealized Foreign Exchange Gain (Loss).......................................... (683) -- Net Unrealized Appreciation (Depreciation)........................................... 750,462 2,961,358 -------------- ------------ NET ASSETS........................................................................... $ 7,002,414 $ 5,668,374 ============== ============ ---------- * See Note J in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 215 DIMENSIONAL INVESTMENT GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2014 (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 $18,357 and $0, respectively)................. $ 320,822 -- Interest.................................................................................. 1 -- Income from Securities Lending............................................................ 8,005 -- Expenses Allocated from Affiliated Investment Company..................................... (15,209) -- --------- -------- Total Net Investment Income Received from Affiliated Investment Companies.............. 313,619 -- --------- -------- Fund Investment Income Dividends (Net of Foreign Taxes Withheld of $0 and $15, respectively)..................... -- $107,293 Interest.................................................................................. -- 21 Income from Securities Lending............................................................ -- 302 --------- -------- Total Investment Income................................................................ -- 107,616 --------- -------- Expenses Investment Advisory Services Fees......................................................... -- 1,326 Administrative Services Fees.............................................................. 13,943 1,857 Accounting & Transfer Agent Fees.......................................................... 68 302 S&P 500(R) Fees........................................................................... -- 104 Shareholder Servicing Fees -- Class R2 Shares............................................. 23 -- Custodian Fees............................................................................ -- 67 Filing Fees............................................................................... 215 89 Shareholders' Reports..................................................................... 195 79 Directors'/Trustees' Fees & Expenses...................................................... 49 38 Professional Fees......................................................................... 52 258 Other..................................................................................... 40 44 --------- -------- Total Expenses......................................................................... 14,585 4,164 --------- -------- Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor (Note C)................................................................................. -- 80 --------- -------- Net Expenses.............................................................................. 14,585 4,244 --------- -------- Net Investment Income (Loss).............................................................. 299,034 103,372 --------- -------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold**............................................................ 130,787 90,274 Futures................................................................................. -- 12,101 Foreign Currency Transactions........................................................... (1,306) -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.............................................. (506,381) 634,795 Futures................................................................................. (25) 345 Translation of Foreign Currency Denominated Amounts..................................... (1,031) -- --------- -------- Net Realized and Unrealized Gain (Loss)................................................... (377,956) 737,515 --------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations............................. $ (78,922) $840,887 ========= ======== ---------- * 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 and $0, respectively. See accompanying Notes to Financial Statements. 216 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, 2014 2013 2014 2013 ----------- ----------- ---------- ---------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss).................................. $ 299,034 $ 177,660 $ 103,372 $ 95,270 Capital Gain Distributions Received from Investment Securities................................................... -- -- -- 409 Net Realized Gain (Loss) on: Investment Securities Sold*................................. 130,787 296,792 90,274 180,412 Futures..................................................... -- (1,213) 12,101 8,021 Foreign Currency Transactions............................... (1,306) (1,636) -- -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.................. (506,381) 993,902 634,795 780,086 Futures..................................................... (25) 27 345 2,321 Translation of Foreign Currency Denominated Amounts......... (1,031) 396 -- -- ----------- ----------- ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations................................................ (78,922) 1,465,928 840,887 1,066,519 ----------- ----------- ---------- ---------- Distributions From: Net Investment Income: Class R2 Shares............................................. (347) (218) -- -- Institutional Class Shares.................................. (295,058) (189,040) (102,736) (94,840) ----------- ----------- ---------- ---------- Total Distributions........................................ (295,405) (189,258) (102,736) (94,840) ----------- ----------- ---------- ---------- Capital Share Transactions (1): Shares Issued................................................. 1,652,421 1,466,636 787,937 774,924 Shares Issued in Lieu of Cash Distributions................... 286,790 178,512 89,598 82,335 Shares Redeemed............................................... (1,090,342) (1,881,241) (864,648) (948,938) ----------- ----------- ---------- ---------- Net Increase (Decrease) from Capital Share Transactions.... 848,869 (236,093) 12,887 (91,679) ----------- ----------- ---------- ---------- Total Increase (Decrease) in Net Assets.................... 474,542 1,040,577 751,038 880,000 Net Assets Beginning of Year............................................. 6,527,872 5,487,295 4,917,336 4,037,336 ----------- ----------- ---------- ---------- End of Year................................................... $ 7,002,414 $ 6,527,872 $5,668,374 $4,917,336 =========== =========== ========== ========== (1) Shares Issued and Redeemed: Shares Issued................................................. 84,840 83,922 52,855 62,326 Shares Issued in Lieu of Cash Distributions................... 14,488 10,436 6,016 6,727 Shares Redeemed............................................... (55,963) (107,838) (57,748) (76,529) ----------- ----------- ---------- ---------- Net Increase (Decrease) from Shares Issued and Redeemed.................................................. 43,365 (13,480) 1,123 (7,476) =========== =========== ========== ========== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)...................................... $ 22,455 $ 14,422 $ 10,292 $ 12,679 ---------- * Net of foreign capital gain taxes withheld of $0, $2, $0 and $0, respectively. See accompanying Notes to Financial Statements. 217 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, 2014 2013 2012 2011 2010 ----------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 19.46 $15.72 $15.83 $17.82 $17.13 ------- ------ ------ ------ ------ Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.74 0.49 0.51 0.53 0.37 Net Gains (Losses) on Securities (Realized and Unrealized). (0.93) 3.77 (0.13) (2.00) 1.29 ------- ------ ------ ------ ------ Total from Investment Operations.......................... (0.19) 4.26 0.38 (1.47) 1.66 ----------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.79) (0.52) (0.49) (0.52) (0.97) ------- ------ ------ ------ ------ Total Distributions....................................... (0.79) (0.52) (0.49) (0.52) (0.97) ----------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 18.48 $19.46 $15.72 $15.83 $17.82 ============================================================= ======== ======== ======== ======== ======== Total Return................................................. (1.21)% 27.61% 2.70% (8.53)% 10.60% ----------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $11,200 $5,517 $6,407 $6,102 $4,952 Ratio of Expenses to Average Net Assets (B).................. 0.68% 0.69% 0.71% 0.71% 0.72% Ratio of Net Investment Income to Average Net Assets......... 3.79% 2.84% 3.33% 2.97% 2.11% ----------------------------------------------------------------------------------------------------------------- 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, 2014 2013 2012 2011 2010 --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 19.45 $ 15.72 $ 15.83 $ 17.81 $ 16.46 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.84 0.52 0.54 0.58 0.39 Net Gains (Losses) on Securities (Realized and Unrealized). (0.98) 3.78 (0.12) (1.99) 1.34 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations.......................... (0.14) 4.30 0.42 (1.41) 1.73 --------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.84) (0.57) (0.53) (0.57) (0.38) ---------- ---------- ---------- ---------- ---------- Total Distributions....................................... (0.84) (0.57) (0.53) (0.57) (0.38) --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 18.47 $ 19.45 $ 15.72 $ 15.83 $ 17.81 ============================================================= ========== ========== ========== ========== ========== Total Return................................................. (0.97)% 27.90% 2.98% (8.26)% 10.94% --------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $6,991,214 $6,522,355 $5,480,888 $5,287,323 $5,157,857 Ratio of Expenses to Average Net Assets (B).................. 0.43% 0.43% 0.45% 0.45% 0.45% Ratio of Net Investment Income to Average Net Assets......... 4.29% 3.00% 3.54% 3.26% 2.34% --------------------------------------------------------------------------------------------------------------------------- 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. 218 DIMENSIONAL INVESTMENT GROUP INC. FINANCIAL HIGHLIGHTS (for a share outstanding throughout each period) U.S. Large Company Portfolio ---------------------------------------------------------- Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2012 2011 2010 -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year.......................... $ 13.87 $ 11.15 $ 9.90 $ 9.34 $ 8.16 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.29 0.27 0.22 0.19 0.18 Net Gains (Losses) on Securities (Realized and Unrealized). 2.07 2.71 1.25 0.56 1.15 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations......................... 2.36 2.98 1.47 0.75 1.33 -------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.29) (0.26) (0.22) (0.19) (0.15) ---------- ---------- ---------- ---------- ---------- Total Distributions...................................... (0.29) (0.26) (0.22) (0.19) (0.15) -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................ $ 15.94 $ 13.87 $ 11.15 $ 9.90 $ 9.34 =========================================================== ========== ========== ========== ========== ========== Total Return................................................ 17.17% 27.10% 15.02% 8.09% 16.47% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)......................... $5,668,374 $4,917,336 $4,037,336 $3,762,013 $3,712,973 Ratio of Expenses to Average Net Assets..................... 0.08% 0.09% 0.10% 0.10% 0.10%** Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor)................................. 0.08% 0.10% 0.10% 0.10% 0.11%** Ratio of Net Investment Income to Average Net Assets........ 1.95% 2.13% 2.10% 1.95% 1.99% Portfolio Turnover Rate..................................... 3% 3% 4% 4% 1%* -------------------------------------------------------------------------------------------------------------------------- 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. 219 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, 2014, the Feeder Fund owned 75% 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 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 220 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 ask prices which approximates 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 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, 2014, there were no significant transfers between Level 1 and Level 2 and no significant 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. 221 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, 2014, 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, 2014, 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*..... 0.035% For the year ended October 31, 2014, 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 rate of average daily net assets: U.S. Large Company Portfolio*. 0.025% * Prior to February 28, 2014, the Portfolio was provided administrative services under an administrative agreement. Effective February 28, 2014, the administrative agreement and investment advisory agreement for the Portfolio was combined into an investment management agreement that provides for an investment management fee, equal to the Portfolio's previous investment advisory services fee and administrative services fee, payable to the Advisor for both investment advisory services and administrative services. Further, on December 13, 2013, the Board of the Fund voted to approve the combination of the Investment Advisory Agreement and the Administration Agreement (together, the "Previous Agreements") into a bundled Investment Management Agreement for the U.S. Large Company Portfolio. The Investment Management Agreement became effective on February 28, 2014. The nature and level of services to the Portfolio under the Investment Management Agreement are the same as under the Previous Agreements. As of February 28, 2014, the Portfolio pays the Advisor an investment management fee that is equal to the sum of the previous investment advisory and administration fees that were paid by the Portfolio to the Advisor under the Previous Agreements. 222 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 will remain in effect through February 28, 2015, and may only be terminated by the Fund's Board of Directors prior to that date. The Fee Waiver Agreement shall continue in effect from year to year thereafter unless terminated by the Fund or the Advisor. For the year ended October 31, 2014, 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 ----------------- ------------- ----------------- Institutional Class Shares U.S. Large Company Portfolio (1)...... 0.08% $552 $397 Class R2 Shares DFA International Value Portfolio (2). 0.79% -- -- (1) Effective August 1, 2013, the Advisor has contractually agreed to waive all or a portion of its management 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. (2) 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 of the Class R2 shares of the Portfolio (excluding the expenses the Portfolio incurs indirectly through investment in other investment companies) to the rate listed above as a percentage of average net assets (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 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 expenses of the Class R2 shares of the Portfolio to exceed the Expense Limitation Amount, as listed above. 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, 2014, the total related amounts paid by 223 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, 2014, 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. $207 U.S. Large Company Portfolio...... 260 E. Purchases and Sales of Securities: For the year ended October 31, 2014, 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. $245,329 $139,778 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, 2014, 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) Increase Undistributed Accumulated (Decrease) Net Investment Net Realized Paid-In Capital Income Gains (Losses) --------------- -------------- -------------- DFA International Value Portfolio. -- $ 4,404 $(4,404) U.S. Large Company Portfolio...... $3,023 (3,023) -- The tax character of dividends and distributions declared and paid during the years ended October 31, 2013 and October 31, 2014 were as follows (amounts in thousands): Net Investment Income and Short-Term Long-Term Capital Gains Capital Gains Total -------------- ------------- -------- DFA International Value Portfolio 2013.............................. $189,258 -- $189,258 2014.............................. 295,405 -- 295,405 U.S. Large Company Portfolio 2013.............................. 94,840 -- 94,840 2014.............................. 102,736 -- 102,736 224 At October 31, 2014, 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. Large Company Portfolio. $3,023 -- $3,023 At October 31, 2014, 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 Carryforward (Depreciation) Losses) -------------- ------------- ------------ -------------- ------------- DFA International Value Portfolio. $31,792 -- $(485,409) $ 738,630 $ 285,013 U.S. Large Company Portfolio...... 10,550 -- (109,001) 2,773,405 2,674,954 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, 2014, 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. $485,409 -- -- $485,409 U.S. Large Company Portfolio...... -- $65,329 $43,672 109,001 During the year ended October 31, 2014, the Portfolios utilized the following capital loss carryforwards to offset realized capital gains for federal income tax purposes (amounts in thousands): DFA International Value Portfolio. $126,405 U.S. Large Company Portfolio...... 76,220 At October 31, 2014, 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, as follows (amounts in thousands): Net Unrealized Federal Unrealized Unrealized Appreciation Tax Cost Appreciation Depreciation (Depreciation) ---------- ------------ ------------ -------------- DFA International Value Portfolio. $6,252,699 $ 739,995 $ (683) $ 739,312 U.S. Large Company Portfolio...... 3,226,704 2,837,721 (64,317) 2,773,404 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 the Portfolios' 225 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, 2014 Oct. 31, 2013 -------------------- --------------------- Amount Shares Amount Shares ----------- ------- ----------- -------- DFA International Value Portfolio Class R2 Shares Shares Issued........................................ $ 11,741 598 $ 1,969 112 Shares Issued in Lieu of Cash Distributions.......... 347 17 218 13 Shares Redeemed...................................... (5,810) (293) (4,454) (249) ----------- ------- ----------- -------- Net Increase (Decrease) -- Class R2 Shares............ $ 6,278 322 $ (2,267) (124) =========== ======= =========== ======== Institutional Class Shares Shares Issued........................................ $ 1,640,680 84,242 $ 1,464,667 83,810 Shares Issued in Lieu of Cash Distributions.......... 286,443 14,471 178,294 10,423 Shares Redeemed...................................... (1,084,532) (55,670) (1,876,787) (107,589) ----------- ------- ----------- -------- Net Increase (Decrease) -- Institutional Class Shares. $ 842,591 43,043 $ (233,826) (13,356) =========== ======= =========== ======== 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, for the year ended October 31, 2010 has 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: Derivative Financial Instruments: Summarized below are the specific types of derivative instruments used by the Portfolios. 1. 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, from the possibility of an illiquid secondary market for these 226 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, 2014, the U.S. Large Company Portfolio had outstanding futures contracts (dollar amounts in thousands): Expiration Number of Contract Unrealized Cash Description Date Contracts* Value Gain (Loss) Collateral ----------------------- ---------- ---------- -------- ----------- ---------- U.S. Large Company Portfolio........ S&P 500(R) Emini Index 12/19/14 611 $61,448 $2,611 $2,755 * During the year ended October 31, 2014, U.S. Large Company Portfolio's average notional contract amount of outstanding futures contracts was $51,511 (in thousands). The following is a summary of the location of derivatives on the U.S. Large Company Portfolio's Statement of Assets and Liabilities as of October 31, 2014: Location on the Statements of Assets and Liabilities ------------------------------------------------------ Derivative Type Asset Derivatives Liability Derivatives --------------- ----------------------------- ------------------------ Equity contracts Receivables: Futures Margin Variation The following is a summary of the U.S. Large Company Portfolio's derivative instrument holdings categorized by primary risk exposure as of October 31, 2014 (amounts in thousands): Asset Derivatives Value ----------------------------------------- Total Value at October 31, 2014 Equity Contracts ---------------- ------------------------ U.S. Large Company $2,611 $2,611* Portfolio * Includes cumulative appreciation (depreciation) of futures contracts. Only current day's margin variation is reporting within the Statements of Assets and Liabilities. The following is a summary of the location of realized and change in unrealized gains and losses on the U.S. Large Company Portfolio's Statement of Operations for the Portfolio's derivative instrument holdings for the year ended October 31, 2014: 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 The following is a summary of the realized and change in unrealized gains and losses from the U.S. Large Company Portfolio's direct investment in derivative instrument holdings categorized by primary risk exposure through the year ended October 31, 2014 (amounts in thousands): Realized Gain (Loss) on Derivatives Recognized in Income -------------------- Equity Total Contracts ------- --------- U.S. Large Company Portfolio. $12,101 $12,101 227 Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income -------------------------------- Equity Total Contracts ----- --------- U.S. Large Company Portfolio. $345 $345 I. 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 agreement for the line of credit expires on March 2, 2015. The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit 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 line of credit agreement expires on January 9, 2015. There were no borrowings by the Portfolios under the lines of credit during the year ended October 31, 2014. J. Securities Lending: As of October 31, 2014, U.S. Large Company Portfolio had securities on loan to brokers/dealers, for which the Portfolio received cash collateral. In addition, U.S. Large Company Portfolio received non-cash collateral consisting of short and/or long term U.S. Treasury securities with a market value of $18,397 (in thousands). 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. In the event of the bankruptcy of the borrower, a Portfolio could experience delay in recovering the loaned securities or only recover cash or a security of equivalent value. 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 228 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. Other: At October 31, 2014, 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............ 2 92% DFA International Value Portfolio-Institutional Class Shares. 3 67% U.S. Large Company Portfolio................................. 4 78% N. Subsequent Event Evaluations: 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. 229 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors of Dimensional Investment Group Inc. and Shareholders of the Portfolios, as defined: 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, 2014, 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, 2014 by correspondence with the custodian, brokers, and the transfer agents of the investee funds, provide a reasonable basis for our opinion. PricewaterhouseCoopers LLP Philadelphia, Pennsylvania December 19, 2014 230 THE DFA INVESTMENT TRUST COMPANY PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- THE U.S. LARGE CAP VALUE SERIES VS. RUSSELL 1000 VALUE INDEX October 31, 2004-October 31, 2014 [CHART] U.S. Large Cap Value Russell 1000 Value Series Index -------------------- ------------------ 10/31/2004 $10,000 $10,000 11/30/2004 10,655 10,506 12/31/2004 11,082 10,858 1/31/2005 10,805 10,665 2/28/2005 11,134 11,018 3/31/2005 11,104 10,867 4/30/2005 10,728 10,672 5/31/2005 11,185 10,929 6/30/2005 11,415 11,049 7/31/2005 11,984 11,368 8/31/2005 11,886 11,319 9/30/2005 12,069 11,478 10/31/2005 11,748 11,186 11/30/2005 12,218 11,552 12/31/2005 12,234 11,621 1/31/2006 12,817 12,072 2/28/2006 12,775 12,146 3/31/2006 13,002 12,311 4/30/2006 13,367 12,624 5/31/2006 13,123 12,305 6/30/2006 13,235 12,383 7/31/2006 13,046 12,684 8/31/2006 13,260 12,897 9/30/2006 13,627 13,154 10/31/2006 14,167 13,584 11/30/2006 14,436 13,894 12/31/2006 14,726 14,206 1/31/2007 15,156 14,388 2/28/2007 14,928 14,164 3/31/2007 15,032 14,383 4/30/2007 15,671 14,914 5/31/2007 16,317 15,452 6/30/2007 16,055 15,091 7/31/2007 15,060 14,393 8/31/2007 14,772 14,554 9/30/2007 15,157 15,054 10/31/2007 15,242 15,056 11/30/2007 14,391 14,320 12/31/2007 14,343 14,182 1/31/2008 13,795 13,614 2/29/2008 13,372 13,043 3/31/2008 13,247 12,945 4/30/2008 14,082 13,577 5/31/2008 14,420 13,555 6/30/2008 12,839 12,257 7/31/2008 12,700 12,213 8/31/2008 12,946 12,421 9/30/2008 11,783 11,508 10/31/2008 9,134 9,516 11/30/2008 8,238 8,834 12/31/2008 8,506 8,956 1/31/2009 7,496 7,926 2/28/2009 6,446 6,867 3/31/2009 7,083 7,455 4/30/2009 8,228 8,254 5/31/2009 8,858 8,764 6/30/2009 8,750 8,699 7/31/2009 9,584 9,411 8/31/2009 10,234 9,904 9/30/2009 10,682 10,286 10/31/2009 10,221 9,971 11/30/2009 10,797 10,533 12/31/2009 11,095 10,720 1/31/2010 10,838 10,418 2/28/2010 11,305 10,747 3/31/2010 12,186 11,447 4/30/2010 12,573 11,743 5/31/2010 11,495 10,778 6/30/2010 10,627 10,171 7/31/2010 11,461 10,860 8/31/2010 10,770 10,395 9/30/2010 11,820 11,201 10/31/2010 12,261 11,538 11/30/2010 12,166 11,476 12/31/2010 13,352 12,382 1/31/2011 13,779 12,662 2/28/2011 14,525 13,129 3/31/2011 14,592 13,181 4/30/2011 14,965 13,532 5/31/2011 14,748 13,389 6/30/2011 14,491 13,115 7/31/2011 13,827 12,680 8/31/2011 12,661 11,888 9/30/2011 11,380 10,990 10/31/2011 12,959 12,248 11/30/2011 12,851 12,185 12/31/2011 12,952 12,430 1/31/2012 13,596 12,901 2/29/2012 14,382 13,415 3/31/2012 14,647 13,813 4/30/2012 14,348 13,672 5/31/2012 13,332 12,870 6/30/2012 14,050 13,509 7/31/2012 14,186 13,649 8/31/2012 14,748 13,945 9/30/2012 15,291 14,388 10/31/2012 15,331 14,317 11/30/2012 15,365 14,311 12/31/2012 15,833 14,607 1/31/2013 16,937 15,556 2/28/2013 17,154 15,779 3/31/2013 17,974 16,405 4/30/2013 18,164 16,653 5/31/2013 18,910 17,080 6/30/2013 18,700 16,929 7/31/2013 19,818 17,844 8/31/2013 19,235 17,167 9/30/2013 19,798 17,597 10/31/2013 20,801 18,367 11/30/2013 21,675 18,880 12/31/2013 22,251 19,358 1/31/2014 21,370 18,670 2/28/2014 22,095 19,478 3/31/2014 22,617 19,943 4/30/2014 22,766 20,132 5/31/2014 23,268 20,427 6/30/2014 23,898 20,961 7/31/2014 23,729 20,603 8/31/2014 24,481 21,361 9/30/2014 23,878 20,920 Past performance is not predictive of 10/31/2014 24,061 21,390 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 Russell data copyright (C) Russell ---------------------------------------------------- Investment Group 1995-2014, all rights 15.67% 18.68% 9.18% reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- THE DFA INTERNATIONAL VALUE SERIES VS. MSCI WORLD EX USA INDEX (NET DIVIDENDS) October 31, 2004-October 31, 2014 [CHART] DFA International MSCI World ex Value Series USA Index (net div.) ----------------- --------------------- 10/31/2004 $10,000 $10,000 11/30/2004 10,743 10,665 12/31/2004 11,278 11,116 1/31/2005 11,166 10,897 2/28/2005 11,608 11,382 3/31/2005 11,322 11,123 4/30/2005 10,978 10,840 5/31/2005 10,992 10,859 6/30/2005 11,168 11,037 7/31/2005 11,666 11,393 8/31/2005 12,050 11,708 9/30/2005 12,389 12,242 10/31/2005 12,203 11,847 11/30/2005 12,420 12,160 12/31/2005 13,029 12,724 1/31/2006 13,919 13,529 2/28/2006 14,052 13,483 3/31/2006 14,645 13,911 4/30/2006 15,387 14,576 5/31/2006 14,764 14,022 6/30/2006 14,671 14,004 7/31/2006 14,897 14,136 8/31/2006 15,409 14,537 9/30/2006 15,622 14,526 10/31/2006 16,316 15,100 11/30/2006 16,858 15,549 12/31/2006 17,516 15,995 1/31/2007 17,846 16,093 2/28/2007 17,830 16,222 3/31/2007 18,407 16,637 4/30/2007 19,336 17,394 5/31/2007 19,997 17,781 6/30/2007 19,851 17,798 7/31/2007 19,299 17,552 8/31/2007 19,083 17,298 9/30/2007 20,079 18,281 10/31/2007 21,053 19,076 11/30/2007 19,778 18,330 12/31/2007 19,352 17,985 1/31/2008 17,784 16,364 2/29/2008 17,558 16,660 3/31/2008 17,768 16,422 4/30/2008 18,562 17,335 5/31/2008 18,570 17,598 6/30/2008 16,734 16,230 7/31/2008 16,260 15,652 8/31/2008 15,581 15,047 9/30/2008 13,761 12,874 10/31/2008 10,310 10,196 11/30/2008 9,678 9,643 12/31/2008 10,410 10,152 1/31/2009 8,973 9,204 2/28/2009 7,871 8,273 3/31/2009 8,729 8,818 4/30/2009 10,337 9,955 5/31/2009 11,874 11,214 6/30/2009 11,693 11,098 7/31/2009 13,084 12,140 8/31/2009 13,834 12,722 9/30/2009 14,539 13,247 10/31/2009 13,961 13,034 11/30/2009 14,377 13,356 12/31/2009 14,539 13,569 1/31/2010 13,699 12,933 2/28/2010 13,753 12,920 3/31/2010 14,837 13,752 4/30/2010 14,584 13,547 5/31/2010 12,877 12,052 6/30/2010 12,651 11,878 7/31/2010 14,232 12,976 8/31/2010 13,536 12,588 9/30/2010 14,991 13,795 10/31/2010 15,515 14,287 11/30/2010 14,738 13,682 12/31/2010 16,112 14,783 1/31/2011 16,798 15,102 2/28/2011 17,359 15,662 3/31/2011 16,880 15,348 4/30/2011 17,783 16,184 5/31/2011 17,142 15,704 6/30/2011 16,907 15,480 7/31/2011 16,365 15,225 8/31/2011 14,612 13,938 9/30/2011 13,012 12,538 10/31/2011 14,268 13,758 11/30/2011 13,798 13,122 12/31/2011 13,428 12,979 1/31/2012 14,331 13,679 2/29/2012 15,081 14,431 3/31/2012 14,955 14,325 4/30/2012 14,422 14,081 5/31/2012 12,642 12,476 6/30/2012 13,536 13,294 7/31/2012 13,482 13,459 8/31/2012 14,042 13,843 9/30/2012 14,539 14,263 10/31/2012 14,720 14,363 11/30/2012 14,955 14,665 12/31/2012 15,687 15,109 1/31/2013 16,428 15,852 2/28/2013 15,931 15,694 3/31/2013 15,985 15,818 4/30/2013 16,771 16,539 5/31/2013 16,572 16,168 6/30/2013 15,985 15,563 7/31/2013 17,078 16,391 8/31/2013 16,961 16,180 9/30/2013 18,235 17,323 10/31/2013 18,868 17,904 11/30/2013 18,940 18,014 12/31/2013 19,356 18,285 1/31/2014 18,651 17,547 2/28/2014 19,717 18,505 3/31/2014 19,572 18,422 4/30/2014 19,907 18,712 5/31/2014 20,133 19,002 6/30/2014 20,377 19,272 7/31/2014 19,925 18,928 8/31/2014 19,934 18,943 Past performance is not predictive of 9/30/2014 19,057 18,165 future performance. 10/31/2014 18,732 17,877 The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. -------------------------------------------------------- MSCI data copyright MSCI 2014, all -0.72% 6.06% 6.48% rights reserved. -------------------------------------------------------------------------------- 231 THE DFA INVESTMENT TRUST COMPANY PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- THE JAPANESE SMALL COMPANY SERIES VS. MSCI JAPAN SMALL CAP INDEX (NET DIVIDENDS) October 31, 2004-October 31, 2014 [CHART] Japanese Small Company MSCI Japan Small Cap Index Series (net div.) ---------------------- -------------------------- 10/31/2004 $10,000 $10,000 11/30/2004 10,307 10,435 12/31/2004 10,810 10,940 1/31/2005 11,257 11,312 2/28/2005 11,676 11,529 3/31/2005 11,746 11,502 4/30/2005 11,425 11,408 5/31/2005 11,229 11,198 6/30/2005 11,439 11,350 7/31/2005 11,676 11,671 8/31/2005 12,332 12,072 9/30/2005 12,835 12,826 10/31/2005 13,240 13,082 11/30/2005 13,506 13,642 12/31/2005 15,028 15,486 1/31/2006 15,670 15,980 2/28/2006 14,735 14,939 3/31/2006 15,391 15,610 4/30/2006 15,698 15,687 5/31/2006 14,595 14,429 6/30/2006 14,036 13,977 7/31/2006 13,366 13,053 8/31/2006 13,589 13,400 9/30/2006 13,380 13,107 10/31/2006 13,282 13,023 11/30/2006 13,198 12,913 12/31/2006 13,310 12,988 1/31/2007 13,589 13,241 2/28/2007 14,134 13,763 3/31/2007 14,036 13,636 4/30/2007 13,841 13,403 5/31/2007 13,561 13,083 6/30/2007 13,785 13,169 7/31/2007 13,869 13,166 8/31/2007 13,282 12,364 9/30/2007 13,268 12,289 10/31/2007 13,352 12,733 11/30/2007 13,045 12,198 12/31/2007 12,235 11,468 1/31/2008 11,885 10,905 2/29/2008 11,802 11,024 3/31/2008 12,039 11,028 4/30/2008 12,123 11,165 5/31/2008 12,570 11,509 6/30/2008 11,983 10,802 7/31/2008 11,648 10,449 8/31/2008 11,006 9,987 9/30/2008 10,293 9,012 10/31/2008 9,539 8,061 11/30/2008 9,791 8,390 12/31/2008 10,796 9,043 1/31/2009 10,056 8,569 2/28/2009 8,757 7,443 3/31/2009 9,148 7,705 4/30/2009 9,525 8,099 5/31/2009 10,698 9,091 6/30/2009 11,411 9,669 7/31/2009 11,648 9,911 8/31/2009 12,263 10,467 9/30/2009 12,137 10,425 10/31/2009 11,704 10,044 11/30/2009 11,229 9,685 12/31/2009 11,187 9,504 1/31/2010 11,341 9,709 2/28/2010 11,564 9,893 3/31/2010 12,151 10,343 4/30/2010 12,514 10,623 5/31/2010 11,466 9,886 6/30/2010 11,648 9,930 7/31/2010 11,858 10,051 8/31/2010 11,536 9,838 9/30/2010 12,039 10,240 10/31/2010 11,788 10,156 11/30/2010 12,081 10,354 12/31/2010 13,198 11,398 1/31/2011 13,506 11,534 2/28/2011 14,134 11,998 3/31/2011 13,254 11,258 4/30/2011 13,184 11,268 5/31/2011 12,961 11,100 6/30/2011 13,617 11,514 7/31/2011 14,120 11,992 8/31/2011 13,743 11,502 9/30/2011 13,673 11,512 10/31/2011 12,975 11,088 11/30/2011 13,184 10,787 12/31/2011 13,115 10,955 1/31/2012 13,953 11,405 2/29/2012 13,966 11,529 3/31/2012 14,372 11,837 4/30/2012 14,078 11,666 5/31/2012 12,905 10,697 6/30/2012 13,589 11,153 7/31/2012 13,128 10,979 8/31/2012 13,142 10,916 9/30/2012 13,324 11,218 10/31/2012 13,045 10,975 11/30/2012 13,240 11,051 12/31/2012 13,729 11,395 1/31/2013 14,162 11,821 2/28/2013 14,511 12,222 3/31/2013 15,628 13,209 4/30/2013 16,453 14,078 5/31/2013 15,112 12,963 6/30/2013 15,251 12,927 7/31/2013 15,615 13,138 8/31/2013 15,265 12,960 9/30/2013 16,997 14,436 10/31/2013 17,039 14,377 11/30/2013 16,913 14,282 12/31/2013 17,039 14,396 1/31/2014 16,872 14,355 2/28/2014 16,802 14,036 3/31/2014 16,885 14,072 4/30/2014 16,634 13,811 5/31/2014 17,067 14,263 6/30/2014 18,282 15,273 7/31/2014 18,170 15,355 8/31/2014 18,338 15,246 9/30/2014 17,779 14,736 Past performance is not predictive of 10/31/2014 17,458 14,342 future performance. The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. ---------------------------------------------------------- MSCI data copyright MSCI 2014, all 2.46% 8.33% 5.73% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- THE ASIA PACIFIC SMALL COMPANY SERIES VS. MSCI PACIFIC EX JAPAN SMALL CAP INDEX (NET DIVIDENDS) October 31, 2004-October 31, 2014 [CHART] Asia Pacific MSCI Pacific ex Japan Small Company Series Small Cap Index (net div.) -------------------- -------------------------- 10/31/2004 $10,000 $10,000 11/30/2004 10,729 10,770 12/31/2004 10,977 11,225 1/31/2005 11,224 11,323 2/28/2005 11,550 11,683 3/31/2005 11,161 11,351 4/30/2005 10,786 11,167 5/31/2005 10,545 11,310 6/30/2005 11,019 11,928 7/31/2005 11,394 12,425 8/31/2005 11,691 12,415 9/30/2005 12,123 13,041 10/31/2005 11,444 12,275 11/30/2005 11,727 12,741 12/31/2005 11,911 12,991 1/31/2006 12,718 13,734 2/28/2006 12,902 13,872 3/31/2006 13,560 14,460 4/30/2006 14,338 15,392 5/31/2006 13,524 14,606 6/30/2006 13,439 14,428 7/31/2006 13,701 14,576 8/31/2006 14,041 15,052 9/30/2006 14,190 15,301 10/31/2006 15,357 16,368 11/30/2006 16,214 17,362 12/31/2006 16,681 18,010 1/31/2007 17,113 18,468 2/28/2007 17,573 18,820 3/31/2007 18,493 19,791 4/30/2007 19,788 21,163 5/31/2007 21,486 21,994 6/30/2007 22,371 22,566 7/31/2007 22,725 22,560 8/31/2007 21,033 21,108 9/30/2007 23,496 22,981 10/31/2007 25,556 24,552 11/30/2007 23,871 22,580 12/31/2007 23,468 22,269 1/31/2008 21,111 19,285 2/29/2008 21,762 20,431 3/31/2008 20,708 19,142 4/30/2008 22,159 20,423 5/31/2008 23,128 20,643 6/30/2008 20,856 18,333 7/31/2008 19,632 17,490 8/31/2008 18,259 16,070 9/30/2008 15,124 12,933 10/31/2008 10,099 8,365 11/30/2008 9,130 7,452 12/31/2008 10,127 8,318 1/31/2009 8,882 7,402 2/28/2009 8,393 6,942 3/31/2009 9,696 7,937 4/30/2009 11,146 9,358 5/31/2009 14,027 11,602 6/30/2009 14,140 11,928 7/31/2009 16,185 13,651 8/31/2009 16,921 14,352 9/30/2009 18,245 15,554 10/31/2009 18,655 15,927 11/30/2009 19,526 16,385 12/31/2009 20,042 17,040 1/31/2010 18,960 15,950 2/28/2010 19,299 16,150 3/31/2010 20,892 17,481 4/30/2010 21,182 17,970 5/31/2010 18,252 15,257 6/30/2010 18,033 15,170 7/31/2010 20,035 16,713 8/31/2010 20,014 16,676 9/30/2010 23,050 19,180 10/31/2010 24,048 20,031 11/30/2010 23,730 19,764 12/31/2010 26,058 21,758 1/31/2011 25,506 21,126 2/28/2011 25,669 21,241 3/31/2011 26,214 21,893 4/30/2011 27,332 22,779 5/31/2011 26,525 22,257 6/30/2011 25,633 21,466 7/31/2011 26,058 21,783 8/31/2011 24,246 20,268 9/30/2011 19,724 16,583 10/31/2011 22,810 19,299 11/30/2011 22,201 17,983 12/31/2011 20,906 17,407 1/31/2012 23,071 19,214 2/29/2012 24,812 20,708 3/31/2012 24,459 20,060 4/30/2012 24,360 20,168 5/31/2012 21,323 17,550 6/30/2012 21,776 17,796 7/31/2012 22,102 18,381 8/31/2012 22,845 18,675 9/30/2012 23,977 19,668 10/31/2012 24,515 20,074 11/30/2012 24,869 20,272 12/31/2012 26,037 20,781 1/31/2013 27,346 21,882 2/28/2013 27,466 22,142 3/31/2013 27,587 22,197 4/30/2013 27,134 22,021 5/31/2013 25,124 20,400 6/30/2013 23,347 18,656 7/31/2013 24,501 19,402 8/31/2013 24,699 19,570 9/30/2013 26,433 21,075 10/31/2013 27,190 21,445 11/30/2013 26,249 20,539 12/31/2013 26,575 20,636 1/31/2014 25,322 19,680 2/28/2014 26,787 20,739 3/31/2014 27,183 21,122 4/30/2014 27,254 21,260 5/31/2014 27,282 21,434 6/30/2014 27,495 21,550 7/31/2014 28,075 22,019 Past performance is not predictive of 8/31/2014 28,514 22,189 future performance. 9/30/2014 25,888 20,150 The returns shown do not reflect the 10/31/2014 26,263 20,388 deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. ----------------------------------------------------- MSCI data copyright MSCI 2014, all -3.46% 7.08% 10.14% rights reserved. -------------------------------------------------------------------------------- 232 THE DFA INVESTMENT TRUST COMPANY PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- THE UNITED KINGDOM SMALL COMPANY SERIES VS. MSCI UK SMALL CAP INDEX (NET DIVIDENDS) October 31, 2004-October 31, 2014 [CHART] United Kingdom MSCI UK Small Cap Small Company Series Index (net div.) -------------------- ------------------ 10/31/2004 $10,000 $10,000 11/30/2004 10,809 10,809 12/31/2004 11,256 11,432 1/31/2005 11,576 11,689 2/28/2005 11,971 11,965 3/31/2005 11,703 11,816 4/30/2005 11,308 11,282 5/31/2005 11,087 11,182 6/30/2005 11,298 11,354 7/31/2005 11,519 11,691 8/31/2005 12,168 12,257 9/30/2005 12,032 12,278 10/31/2005 11,693 11,904 11/30/2005 12,201 12,499 12/31/2005 12,738 13,039 1/31/2006 13,735 14,100 2/28/2006 13,923 14,321 3/31/2006 14,153 14,611 4/30/2006 14,868 15,384 5/31/2006 14,567 15,043 6/30/2006 14,563 14,915 7/31/2006 14,666 14,799 8/31/2006 15,282 15,332 9/30/2006 15,729 15,781 10/31/2006 16,623 16,685 11/30/2006 17,667 17,766 12/31/2006 18,631 18,600 1/31/2007 18,763 18,557 2/28/2007 18,758 18,615 3/31/2007 19,643 19,385 4/30/2007 20,320 20,347 5/31/2007 20,593 20,477 6/30/2007 19,840 19,881 7/31/2007 19,737 19,770 8/31/2007 19,624 19,045 9/30/2007 18,946 17,966 10/31/2007 20,461 19,940 11/30/2007 18,095 17,633 12/31/2007 17,140 16,747 1/31/2008 15,988 15,400 2/29/2008 16,223 15,922 3/31/2008 16,162 15,721 4/30/2008 16,435 16,014 5/31/2008 16,482 16,090 6/30/2008 15,169 14,990 7/31/2008 14,638 14,392 8/31/2008 14,403 14,015 9/30/2008 12,178 11,438 10/31/2008 8,909 8,264 11/30/2008 8,278 7,498 12/31/2008 8,095 7,308 1/31/2009 7,897 7,267 2/28/2009 7,573 7,027 3/31/2009 7,902 7,434 4/30/2009 9,558 9,142 5/31/2009 10,536 10,107 6/30/2009 10,588 10,179 7/31/2009 11,505 11,115 8/31/2009 12,404 12,187 9/30/2009 12,766 12,468 10/31/2009 12,785 12,486 11/30/2009 12,747 12,356 12/31/2009 13,015 12,661 1/31/2010 12,888 12,603 2/28/2010 12,446 12,038 3/31/2010 13,490 13,099 4/30/2010 13,989 13,622 5/31/2010 12,408 11,985 6/30/2010 12,643 12,036 7/31/2010 14,351 13,484 8/31/2010 13,824 13,118 9/30/2010 15,301 14,563 10/31/2010 16,101 15,184 11/30/2010 15,310 14,552 12/31/2010 16,877 16,074 1/31/2011 17,121 16,230 2/28/2011 17,639 16,658 3/31/2011 17,314 16,370 4/30/2011 18,848 17,871 5/31/2011 18,735 17,645 6/30/2011 18,137 17,050 7/31/2011 18,020 17,003 8/31/2011 16,223 15,269 9/30/2011 14,586 13,659 10/31/2011 16,134 15,151 11/30/2011 15,644 14,563 12/31/2011 15,160 14,077 1/31/2012 16,500 15,505 2/29/2012 17,846 16,945 3/31/2012 18,236 17,001 4/30/2012 18,551 17,290 5/31/2012 16,463 15,148 6/30/2012 17,272 15,869 7/31/2012 17,563 16,158 8/31/2012 18,528 17,014 9/30/2012 19,483 17,922 10/31/2012 19,911 18,293 11/30/2012 20,038 18,299 12/31/2012 21,143 19,141 1/31/2013 21,519 19,644 2/28/2013 21,717 19,755 3/31/2013 22,366 20,287 4/30/2013 22,935 20,794 5/31/2013 23,151 21,075 6/30/2013 22,643 20,315 7/31/2013 24,563 22,008 8/31/2013 24,741 22,309 9/30/2013 26,416 23,983 10/31/2013 27,361 24,827 11/30/2013 27,987 25,412 12/31/2013 29,534 26,640 1/31/2014 28,838 26,073 2/28/2014 31,430 28,602 3/31/2014 30,466 27,570 4/30/2014 29,967 26,911 5/31/2014 29,944 26,963 6/30/2014 29,920 26,899 7/31/2014 28,993 26,139 8/31/2014 29,436 26,414 Past performance is not predictive of 9/30/2014 27,756 24,864 future performance. 10/31/2014 27,695 24,705 The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. ---------------------------------------------------- MSCI data copyright MSCI 2014, all 1.22% 16.72% 10.72% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- THE CONTINENTAL SMALL COMPANY SERIES VS. MSCI EUROPE EX UK SMALL CAP INDEX (NET DIVIDENDS) October 31, 2004-October 31, 2014 [CHART] Continental Small MSCI Europe ex UK Small Company Series Cap Index (net div.) ----------------- ----------------------- 10/31/2004 $10,000 $10,000 11/30/2004 11,070 11,110 12/31/2004 11,644 11,665 1/31/2005 11,809 11,796 2/28/2005 12,569 12,623 3/31/2005 12,225 12,300 4/30/2005 11,902 11,938 5/31/2005 11,935 12,108 6/30/2005 12,258 12,496 7/31/2005 13,021 13,353 8/31/2005 13,461 13,732 9/30/2005 13,805 14,201 10/31/2005 13,122 13,221 11/30/2005 13,170 13,390 12/31/2005 13,853 14,166 1/31/2006 15,182 15,746 2/28/2006 15,622 16,191 3/31/2006 16,632 17,237 4/30/2006 17,779 18,458 5/31/2006 16,926 17,510 6/30/2006 16,611 17,111 7/31/2006 16,575 16,923 8/31/2006 17,015 17,322 9/30/2006 17,246 17,503 10/31/2006 18,114 18,439 11/30/2006 19,374 19,729 12/31/2006 20,299 20,660 1/31/2007 21,240 21,321 2/28/2007 21,276 21,413 3/31/2007 22,520 22,551 4/30/2007 23,708 23,916 5/31/2007 24,168 24,333 6/30/2007 23,905 24,101 7/31/2007 23,776 23,924 8/31/2007 22,932 22,841 9/30/2007 23,445 23,296 10/31/2007 24,576 24,690 11/30/2007 22,763 22,923 12/31/2007 22,326 22,459 1/31/2008 20,202 19,754 2/29/2008 21,070 20,950 3/31/2008 21,741 21,376 4/30/2008 22,003 21,741 5/31/2008 22,427 22,079 6/30/2008 20,537 20,039 7/31/2008 19,451 18,901 8/31/2008 18,922 18,385 9/30/2008 15,630 14,578 10/31/2008 11,458 10,477 11/30/2008 10,565 9,608 12/31/2008 11,668 10,496 1/31/2009 10,343 9,553 2/28/2009 9,451 8,712 3/31/2009 10,137 9,386 4/30/2009 11,797 11,340 5/31/2009 13,506 13,032 6/30/2009 13,340 12,865 7/31/2009 14,402 14,020 8/31/2009 15,610 15,459 9/30/2009 16,947 16,941 10/31/2009 16,474 16,479 11/30/2009 16,975 16,817 12/31/2009 16,922 16,893 1/31/2010 16,644 16,668 2/28/2010 16,292 16,193 3/31/2010 17,504 17,507 4/30/2010 17,338 17,396 5/31/2010 14,875 14,705 6/30/2010 14,782 14,485 7/31/2010 16,551 16,221 8/31/2010 15,796 15,450 9/30/2010 17,968 17,834 10/31/2010 19,006 18,978 11/30/2010 17,532 17,540 12/31/2010 19,806 19,996 1/31/2011 20,372 20,448 2/28/2011 20,723 20,795 3/31/2011 21,422 21,497 4/30/2011 22,872 22,998 5/31/2011 22,100 22,121 6/30/2011 21,389 21,407 7/31/2011 20,182 20,107 8/31/2011 18,110 18,007 9/30/2011 15,384 15,302 10/31/2011 16,963 16,978 11/30/2011 15,844 15,652 12/31/2011 15,222 15,120 1/31/2012 16,672 16,619 2/29/2012 17,742 17,895 3/31/2012 17,775 17,750 4/30/2012 17,363 17,454 5/31/2012 14,992 15,060 6/30/2012 15,650 15,802 7/31/2012 15,493 15,746 8/31/2012 16,200 16,433 9/30/2012 17,056 17,317 10/31/2012 17,351 17,616 11/30/2012 17,585 17,885 12/31/2012 18,647 18,850 1/31/2013 20,061 20,385 2/28/2013 19,863 20,323 3/31/2013 19,418 19,800 4/30/2013 20,218 20,569 5/31/2013 20,594 21,036 6/30/2013 19,915 20,100 7/31/2013 21,652 21,928 8/31/2013 21,680 21,887 9/30/2013 23,578 23,759 10/31/2013 24,927 25,189 11/30/2013 25,380 25,637 12/31/2013 26,095 26,302 1/31/2014 25,933 26,085 2/28/2014 28,215 28,365 3/31/2014 28,360 28,388 4/30/2014 28,639 28,507 5/31/2014 28,756 28,828 6/30/2014 28,506 28,546 7/31/2014 26,842 26,863 8/31/2014 26,523 26,647 Past performance is not predictive of 9/30/2014 25,109 25,178 future performance. 10/31/2014 24,366 24,356 The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. --------------------------------------------------- MSCI data copyright MSCI 2014, all -2.25% 8.14% 9.31% rights reserved. -------------------------------------------------------------------------------- 233 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, 2014 [CHART] Canadian Small MSCI Canada Small Company Series Cap Index (net div.) -------------- -------------------- 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 8/31/2013 10,690 11,262 9/30/2013 11,170 11,696 10/31/2013 11,480 11,959 11/30/2013 11,330 11,668 12/31/2013 11,610 11,958 1/31/2014 11,250 11,555 2/28/2014 11,970 12,358 3/31/2014 12,140 12,468 4/30/2014 12,670 12,944 5/31/2014 12,690 12,956 6/30/2014 13,650 14,057 7/31/2014 13,010 13,443 Past performance is not predictive of 8/31/2014 13,460 13,905 future performance. 9/30/2014 11,920 12,434 The returns shown do not reflect the 10/31/2014 11,040 11,601 deduction of taxes that a shareholder Average Annual One Five Since would pay on fund distributions or the Total Return Year Years Inception redemption of fund shares. --------------------------------------------------- MSCI data copyright MSCI 2014, all -3.83% 7.31% 1.31% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- THE EMERGING MARKETS SERIES VS. MSCI EMERGING MARKETS INDEX (NET DIVIDENDS) October 31, 2004-October 31, 2014 [CHART] MSCI Emerging Markets Index Emerging Markets Series (net div.) ----------------------- --------------------------- 10/31/2004 $10,000 $10,000 11/30/2004 10,874 10,926 12/31/2004 11,583 11,450 1/31/2005 11,677 11,480 2/28/2005 12,546 12,481 3/31/2005 11,689 11,656 4/30/2005 11,412 11,343 5/31/2005 11,754 11,738 6/30/2005 12,109 12,137 7/31/2005 12,888 12,985 8/31/2005 12,971 13,097 9/30/2005 14,005 14,316 10/31/2005 13,308 13,380 11/30/2005 14,271 14,487 12/31/2005 15,097 15,343 1/31/2006 16,545 17,057 2/28/2006 16,497 17,037 3/31/2006 16,722 17,187 4/30/2006 17,726 18,411 5/31/2006 15,682 16,482 6/30/2006 15,665 16,442 7/31/2006 15,954 16,677 8/31/2006 16,456 17,102 9/30/2006 16,686 17,244 10/31/2006 17,685 18,063 11/30/2006 18,819 19,406 12/31/2006 19,581 20,280 1/31/2007 19,870 20,061 2/28/2007 19,569 19,942 3/31/2007 20,461 20,737 4/30/2007 21,772 21,697 5/31/2007 23,231 22,771 6/30/2007 23,615 23,839 7/31/2007 24,188 25,096 8/31/2007 23,774 24,563 9/30/2007 25,871 27,276 10/31/2007 28,712 30,317 11/30/2007 26,840 28,168 12/31/2007 26,745 28,267 1/31/2008 24,418 24,740 2/29/2008 25,198 26,566 3/31/2008 24,418 25,160 4/30/2008 26,167 27,202 5/31/2008 26,320 27,706 6/30/2008 23,621 24,943 7/31/2008 23,314 24,002 8/31/2008 21,931 22,085 9/30/2008 18,884 18,220 10/31/2008 13,910 13,234 11/30/2008 12,652 12,237 12/31/2008 13,644 13,192 1/31/2009 12,599 12,340 2/28/2009 11,784 11,644 3/31/2009 13,485 13,317 4/30/2009 15,487 15,533 5/31/2009 18,128 18,187 6/30/2009 17,974 17,942 7/31/2009 20,035 19,960 8/31/2009 20,106 19,888 9/30/2009 21,884 21,694 10/31/2009 21,429 21,720 11/30/2009 22,711 22,654 12/31/2009 23,532 23,548 1/31/2010 22,250 22,235 2/28/2010 22,522 22,313 3/31/2010 24,412 24,114 4/30/2010 24,560 24,407 5/31/2010 22,280 22,260 6/30/2010 22,315 22,096 7/31/2010 24,282 23,936 8/31/2010 23,721 23,471 9/30/2010 26,421 26,080 10/31/2010 27,224 26,837 11/30/2010 26,615 26,129 12/31/2010 28,783 27,993 1/31/2011 28,039 27,234 2/28/2011 27,844 26,980 3/31/2011 29,398 28,566 4/30/2011 30,425 29,452 5/31/2011 29,587 28,680 6/30/2011 29,238 28,238 7/31/2011 29,014 28,113 8/31/2011 26,669 25,601 9/30/2011 22,634 21,868 10/31/2011 25,470 24,765 11/30/2011 24,589 23,114 12/31/2011 23,875 22,836 1/31/2012 26,432 25,426 2/29/2012 27,868 26,949 3/31/2012 27,147 26,049 4/30/2012 26,663 25,738 5/31/2012 23,792 22,852 6/30/2012 24,973 23,734 7/31/2012 25,174 24,197 8/31/2012 25,346 24,116 9/30/2012 26,763 25,571 10/31/2012 26,627 25,416 11/30/2012 26,976 25,739 12/31/2012 28,559 26,997 1/31/2013 28,706 27,369 2/28/2013 28,376 27,026 3/31/2013 27,974 26,560 4/30/2013 28,293 26,760 5/31/2013 27,377 26,074 6/30/2013 25,659 24,414 7/31/2013 26,037 24,669 8/31/2013 25,428 24,245 9/30/2013 27,242 25,822 10/31/2013 28,488 27,076 11/30/2013 28,063 26,681 12/31/2013 27,779 26,295 1/31/2014 25,854 24,587 2/28/2014 26,793 25,402 3/31/2014 27,738 26,182 4/30/2014 27,903 26,269 5/31/2014 28,854 27,186 6/30/2014 29,657 27,908 7/31/2014 30,012 28,448 8/31/2014 30,951 29,089 Past performance is not predictive of 9/30/2014 28,677 26,933 future performance. 10/31/2014 28,984 27,250 The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. ----------------------------------------------------------- MSCI data copyright MSCI 2014, all 1.74% 6.23% 11.23% rights reserved. -------------------------------------------------------------------------------- 234 THE DFA INVESTMENT TRUST COMPANY PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- THE EMERGING MARKETS SMALL CAP SERIES VS. MSCI EMERGING MARKETS INDEX (NET DIVIDENDS) October 31, 2004-October 31, 2014 CHART Emerging Markets MSCI Emerging Markets Small Cap Series Index (net div.) ---------------- ------------------- 10/31/2004 $10,000 $10,000 11/30/2004 10,946 10,926 12/31/2004 11,530 11,450 1/31/2005 11,857 11,480 2/28/2005 12,607 12,481 3/31/2005 11,744 11,656 4/30/2005 11,315 11,343 5/31/2005 11,536 11,738 6/30/2005 11,827 12,137 7/31/2005 12,488 12,985 8/31/2005 12,571 13,097 9/30/2005 13,405 14,316 10/31/2005 12,756 13,380 11/30/2005 13,667 14,487 12/31/2005 14,565 15,343 1/31/2006 15,982 17,057 2/28/2006 16,161 17,037 3/31/2006 16,452 17,187 4/30/2006 17,804 18,411 5/31/2006 15,935 16,482 6/30/2006 15,238 16,442 7/31/2006 15,589 16,677 8/31/2006 16,137 17,102 9/30/2006 16,595 17,244 10/31/2006 17,851 18,063 11/30/2006 19,208 19,406 12/31/2006 20,095 20,280 1/31/2007 20,494 20,061 2/28/2007 20,667 19,942 3/31/2007 21,601 20,737 4/30/2007 23,256 21,697 5/31/2007 25,113 22,771 6/30/2007 25,869 23,839 7/31/2007 27,137 25,096 8/31/2007 26,018 24,563 9/30/2007 27,810 27,276 10/31/2007 29,917 30,317 11/30/2007 27,530 28,168 12/31/2007 27,851 28,267 1/31/2008 24,512 24,740 2/29/2008 25,220 26,566 3/31/2008 24,048 25,160 4/30/2008 25,512 27,202 5/31/2008 25,369 27,706 6/30/2008 22,446 24,943 7/31/2008 22,107 24,002 8/31/2008 20,774 22,085 9/30/2008 17,036 18,220 10/31/2008 11,875 13,234 11/30/2008 11,155 12,237 12/31/2008 12,738 13,192 1/31/2009 11,768 12,340 2/28/2009 11,048 11,644 3/31/2009 12,571 13,317 4/30/2009 15,119 15,533 5/31/2009 18,554 18,187 6/30/2009 18,464 17,942 7/31/2009 20,827 19,960 8/31/2009 21,077 19,888 9/30/2009 22,839 21,694 10/31/2009 22,821 21,720 11/30/2009 24,179 22,654 12/31/2009 25,512 23,548 1/31/2010 24,393 22,235 2/28/2010 24,815 22,313 3/31/2010 26,940 24,114 4/30/2010 27,387 24,407 5/31/2010 24,643 22,260 6/30/2010 25,304 22,096 7/31/2010 27,637 23,936 8/31/2010 27,774 23,471 9/30/2010 31,155 26,080 10/31/2010 32,399 26,837 11/30/2010 31,536 26,129 12/31/2010 33,351 27,993 1/31/2011 31,952 27,234 2/28/2011 31,024 26,980 3/31/2011 32,756 28,566 4/30/2011 34,488 29,452 5/31/2011 33,720 28,680 6/30/2011 33,714 28,238 7/31/2011 34,101 28,113 8/31/2011 30,875 25,601 9/30/2011 25,393 21,868 10/31/2011 28,208 24,765 11/30/2011 26,845 23,114 12/31/2011 26,131 22,836 1/31/2012 29,089 25,426 2/29/2012 31,476 26,949 3/31/2012 30,679 26,049 4/30/2012 29,946 25,738 5/31/2012 27,220 22,852 6/30/2012 28,262 23,734 7/31/2012 27,929 24,197 8/31/2012 28,661 24,116 9/30/2012 30,339 25,571 10/31/2012 30,238 25,416 11/30/2012 30,774 25,739 12/31/2012 32,679 26,997 1/31/2013 33,292 27,369 2/28/2013 33,643 27,026 3/31/2013 33,500 26,560 4/30/2013 34,185 26,760 5/31/2013 33,714 26,074 6/30/2013 30,798 24,414 7/31/2013 30,952 24,669 8/31/2013 29,673 24,245 9/30/2013 31,851 25,822 10/31/2013 33,083 27,076 11/30/2013 32,625 26,681 12/31/2013 32,369 26,295 1/31/2014 30,994 24,587 2/28/2014 32,387 25,402 3/31/2014 33,506 26,182 4/30/2014 33,786 26,269 5/31/2014 34,946 27,186 6/30/2014 35,863 27,908 7/31/2014 35,952 28,448 8/31/2014 37,071 29,089 9/30/2014 35,244 26,933 Past performance is not predictive of 10/31/2014 34,935 27,250 future performance. The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. ----------------------------------------------- MSCI data copyright MSCI 2014, all 5.60% 8.89% 13.32% rights reserved. -------------------------------------------------------------------------------- 235 THE DFA INVESTMENT TRUST COMPANY MANAGEMENT'S DISCUSSION AND ANALYSIS (Unaudited) U.S. Equity Market Review 12 Months Ended October 31, 2014 U.S. equities had strong gains during the period. The broad U.S. equity market, as measured by the Russell 3000(R) Index, had positive returns in 9 of the 12 months. As measured by the Russell indices, large cap stocks outperformed small cap stocks. Total Return for 12 Months Ended October 31, 2014 ------------------------------------------------- Russell 3000(R) Index........................ 16.07% Russell Microcap(R) Index (micro cap stocks). 7.34% Russell 2000(R) Index (small cap stocks)..... 8.06% Russell 1000(R) Index (large cap stocks)..... 16.78% Dow Jones U.S. Select REIT Index /SM/........ 20.69% Growth stocks slightly outperformed value stocks as measured by the Russell indices. Total Return for 12 Months Ended October 31, 2014 ------------------------------------------------- Russell 2000(R) Value Index (small cap value stocks)... 7.89% Russell 2000(R) Growth Index (small cap growth stocks). 8.26% Russell 1000(R) Value Index (large cap value stocks)... 16.46% Russell 1000(R) Growth Index (large cap growth stocks). 17.11% ---------- Source: Russell data copyright (C) Russell Investment Group 1995-2014, 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 period 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 is designed 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, 2014, the Series held approximately 260 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, 2014, total returns were 15.67% for the Series and 16.46% for the Russell 1000(R) Value Index. As a result of the Series' diversified investment approach, performance was determined principally by broad trends in the U.S. equity market rather than the behavior of a limited number of stocks. The Series excludes real estate investment trusts (REITs) and highly regulated utilities from eligibility while the Index holds stocks in these sectors. REITs and utilities generally outperformed other sectors during the period, which detracted from the Series' relative performance. Lower book to market stocks outperformed higher book to market stocks within the index. The Series had less weight than the index in lower book to market stocks, which detracted from relative performance. 236 International Equity Market Review 12 Months Ended October 31, 2014 Performance of non-US developed markets was generally negative for the period. Only large cap growth stocks had positive returns. As measured by the MSCI world ex USA indices, large cap stocks outperformed small cap stocks, and growth stocks outperformed value stocks. 12 Months Ended October 31, 2014 -------------------------------- Return in U.S. Dollars - ---------------------- MSCI World ex USA Index........... -0.15% MSCI World ex USA Small Cap Index. -2.14% MSCI World ex USA Value Index..... -0.62% MSCI World ex USA Growth Index.... 0.31% During the period, the U.S. dollar (USD) appreciated against developed markets currencies, detracting from USD-denominated returns of non-US securities in developed markets. 12 Months Ended October 31, 2014 -------------------------------- Ten Largest Foreign Developed Markets by Market Cap Local Return Return in U.S. Dollars --------------------------------------------------- ------------ ---------------------- United Kingdom.................... 0.55% 0.12% Japan............................. 13.47% -0.70% Canada............................ 12.71% 4.26% France............................ 1.34% -6.61% Switzerland....................... 9.61% 3.13% Germany........................... 2.52% -5.52% Australia......................... 6.74% -0.92% Spain............................. 10.44% 1.78% Hong Kong......................... 10.24% 10.21% Sweden............................ 13.18% -1.03% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2014, all rights reserved. Emerging markets generally had stronger performance over the period than developed markets with positive returns in each market segment except large cap value. As measured by the MSCI emerging markets indices, small cap stocks outperformed large cap stocks, and growth stocks outperformed value stocks. 12 Months Ended October 31, 2014 -------------------------------- Return in U.S. Dollars - ---------------------- MSCI Emerging Markets Index........... 0.64% MSCI Emerging Markets Small Cap Index. 3.18% MSCI Emerging Markets Value Index..... -0.63% MSCI Emerging Markets Growth Index.... 1.89% During the period, the U.S. dollar (USD) generally appreciated against most emerging markets currencies, particularly those in Eastern Europe, decreasing USD denominated returns in emerging markets. 237 12 Months Ended October 31, 2014 -------------------------------- Ten Largest Emerging Markets by Market Cap Local Return Return in U.S. Dollar ------------------------------------------ ------------ --------------------- China........................ 6.44% 6.41% Korea........................ -6.24% -6.94% Taiwan....................... 13.99% 10.11% Brazil....................... -0.30% -9.65% South Africa................. 17.13% 6.09% India........................ 29.27% 29.39% Mexico....................... 10.96% 6.98% Russia....................... -4.56% -24.40% Malaysia..................... 3.85% -0.37% Indonesia.................... 17.88% 9.95% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2014, all rights reserved. International Equity Series' Performance Overview The DFA International Value Series The DFA International Value Series is designed 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, 2014, the Series held approximately 550 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, 2014, total returns were -0.72% for the Series and -0.15% for the MSCI World ex USA Index (net dividends). As a result of the Series' diversified investment approach, performance was determined principally by broad trends in international equity markets rather than the behavior of a limited number of stocks. The Series had significantly greater exposure than the Index to value stocks. Value stocks, particularly those in Canada, generally underperformed the Index, which detracted from the Series' relative performance. The Japanese Small Company Series The Japanese Small Company Series is designed to capture the returns of Japanese small company stocks. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2014, 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, 2014, total returns were 2.46% for the Series and -0.24% for the MSCI Japan Small Cap Index (net dividends). As a result of the Series' diversified investment approach, performance was determined principally by broad trends in the Japanese equity market, rather than the behavior of a limited number of stocks. The Series' greater exposure than the Index to companies with smaller relative capitalization contributed to relative outperformance as these stocks generally outperformed during the period. This was partially offset by the Series' exclusion of real estate investment trusts (REITs), which outperformed and detracted from the Series' relative performance. Differences in the valuation timing and methodology between the Series and the Index also benefited 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 Asia Pacific Small Company Series The Asia Pacific Small Company Series is designed to capture the returns of small company stocks in Australia, Hong Kong, New Zealand, and Singapore. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2014, the Series held approximately 880 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. 238 For the 12 months ended October 31, 2014, total returns were -3.46% for the Series and -4.93% 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 trends in Asia Pacific equity markets rather than the behavior of a limited number of stocks. The Series' exclusion of growth-oriented small cap stocks with low profitability contributed to relative performance as these stocks underperformed. This was partially offset by the Series' exclusion of real estate investment trusts (REITs), which outperformed and detracted from the Series' relative performance. In addition, differences in the valuation timing and methodology between the Series and the Index benefited 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 United Kingdom Small Company Series The United Kingdom Small Company Series is designed to capture the returns of U.K. small company stocks. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2014, the Series held approximately 320 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, 2014, total returns were 1.22% for the Series and -0.49% for the MSCI UK Small Cap Index (net dividends). As a result of the Series diversified investment approach, performance was determined principally by broad trends in the U.K. equity market, rather than the behavior of a limited number of stocks. The Series excludes a number of growth-oriented small cap stocks with low profitability that were held by the Index. These stocks generally underperformed, contributing to the Series' relative performance. The Continental Small Company Series The Continental Small Company Series is designed 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, 2014, the Series held approximately 1,180 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, 2014, total returns were -2.25% for the Series and -3.31% 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 trends in the continental European (excluding the U.K.) and Israeli equity markets, rather than the behavior of a limited number of stocks. For the period, the Series' outperformance was primarily attributable to differences in the valuation timing and methodology between the Series and the Index. 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 Canadian Small Company Series The Canadian Small Company Series is designed to capture the returns of Canadian small company stocks. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2014, the Series held approximately 370 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, 2014, total returns were -3.83% for the Series and -3.00% for the MSCI Canada Small Cap Index (net dividends). As a result of the Series' diversified investment approach, performance was determined principally by broad trends in the Canadian equity market. Due to construction methodology differences between the Series and the Index, the Series' holdings in the energy sector significantly underperformed those of the Index and contributed to the Series' relative underperformance. The Index held a number of companies in the energy sector that were outside of the Series' definition of small caps and these companies outperformed, which contributed to the Series' relative underperformance. The Series' exclusion of real 239 estate investment trusts (REITs) also detracted from the Series' relative performance as REITs outperformed during the period. The Emerging Markets Series The Emerging Markets Series is designed 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, 2014, the Series held approximately 1,100 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, 2014, total returns were 1.74% for the Series and 0.64% for the MSCI Emerging Markets Index (net dividends). As a result of the Series' diversified approach, performance was generally determined by broad trends in emerging markets rather than the behavior of a limited number of stocks. The Series' relative performance benefited from a lower weight than the Index in Russia, among the lowest performing emerging markets during the period, and a higher weight in India and Taiwan, among the best performing emerging markets during the period. The Series excludes certain countries from eligibility that the Index holds, such as the UAE and Qatar. Both of these countries underperformed, and their exclusion contributed to the Series' outperformance. The Emerging Markets Small Cap Series The Emerging Markets Small Cap Series is designed 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, 2014, the Series held approximately 3,200 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, 2014, total returns were 5.60% for the Series and 0.64% for the MSCI Emerging Markets Index (net dividends). As a result of the Series' diversified approach, performance was principally determined by broad 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 outperformed emerging markets large caps over the period, and the Series' greater exposure to small caps, particularly those in India, contributed to the Series' relative outperformance. During the year ended October 31, 2014, the Series did not invest in certain countries that the Index holds, such as the UAE, Qatar, and Russia. Russia underperformed significantly and, as it was excluded from the Series, contributed to the Series' relative performance. 240 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, 2014 EXPENSE TABLES Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- The U.S. Large Cap Value Series - Actual Fund Return............ $1,000.00 $1,056.90 0.11% $0.57 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 $ 941.00 0.22% $1.08 Hypothetical 5% Annual Return. $1,000.00 $1,024.10 0.22% $1.12 241 DISCLOSURE OF FUND EXPENSES CONTINUED Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- The Japanese Small Company Series --------------------------------- Actual Fund Return...................... $1,000.00 $1,049.50 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 $ 963.60 0.13% $0.64 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 $ 924.20 0.11% $0.53 Hypothetical 5% Annual Return........... $1,000.00 $1,024.65 0.11% $0.56 The Continental Small Company Series ------------------------------------ Actual Fund Return...................... $1,000.00 $ 850.80 0.12% $0.56 Hypothetical 5% Annual Return........... $1,000.00 $1,024.60 0.12% $0.61 The Canadian Small Company Series --------------------------------- Actual Fund Return...................... $1,000.00 $ 871.30 0.12% $0.57 Hypothetical 5% Annual Return........... $1,000.00 $1,024.60 0.12% $0.61 The Emerging Markets Series --------------------------- Actual Fund Return...................... $1,000.00 $1,038.70 0.15% $0.77 Hypothetical 5% Annual Return........... $1,000.00 $1,024.45 0.15% $0.77 The Emerging Markets Small Cap Series ------------------------------------- Actual Fund Return...................... $1,000.00 $1,034.00 0.26% $1.33 Hypothetical 5% Annual Return........... $1,000.00 $1,023.89 0.26% $1.33 ---------- * 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. 242 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 29, 2014. 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....................... 12.3% Consumer Staples............................. 6.8% Energy....................................... 20.9% Financials................................... 20.7% Health Care.................................. 10.6% Industrials.................................. 12.1% Information Technology....................... 8.6% Materials.................................... 3.3% Other........................................ -- Telecommunication Services................... 4.4% Utilities.................................... 0.3% ----- 100.0% The DFA International Value Series Consumer Discretionary....................... 11.5% Consumer Staples............................. 4.2% Energy....................................... 13.2% Financials................................... 35.2% Health Care.................................. 4.0% Industrials.................................. 9.0% Information Technology....................... 3.4% Materials.................................... 11.3% Other........................................ -- Telecommunication Services................... 5.1% Utilities.................................... 3.1% ----- 100.0% The Japanese Small Company Series Consumer Discretionary....................... 20.6% Consumer Staples............................. 8.8% Energy....................................... 1.0% Financials................................... 11.7% Health Care.................................. 4.9% Industrials.................................. 29.7% Information Technology....................... 11.5% Materials.................................... 11.1% Telecommunication Services................... 0.2% Utilities.................................... 0.5% ----- 100.0% 243 DISCLOSURE OF PORTFOLIO HOLDINGS CONTINUED The Asia Pacific Small Company Series Consumer Discretionary....................... 28.1% Consumer Staples............................. 4.8% Energy....................................... 5.0% Financials................................... 13.4% Health Care.................................. 6.5% Industrials.................................. 18.8% Information Technology....................... 5.7% Materials.................................... 10.7% Other........................................ -- Telecommunication Services................... 4.3% Utilities.................................... 2.7% ----- 100.0% The United Kingdom Small Company Series Consumer Discretionary....................... 25.9% Consumer Staples............................. 4.7% Energy....................................... 4.7% Financials................................... 15.1% Health Care.................................. 3.8% Industrials.................................. 24.9% Information Technology....................... 8.7% Materials.................................... 6.8% Other........................................ -- Telecommunication Services................... 2.8% Utilities.................................... 2.6% ----- 100.0% The Continental Small Company Series Consumer Discretionary....................... 14.5% Consumer Staples............................. 6.2% Energy....................................... 3.3% Financials................................... 17.9% Health Care.................................. 9.8% Industrials.................................. 26.3% Information Technology....................... 9.7% Materials.................................... 7.7% Other........................................ -- Telecommunication Services................... 2.4% Utilities.................................... 2.2% ----- 100.0% The Canadian Small Company Series Consumer Discretionary....................... 10.8% Consumer Staples............................. 3.7% Energy....................................... 26.9% Financials................................... 8.6% Health Care.................................. 1.8% Industrials.................................. 16.7% Information Technology....................... 6.4% Materials.................................... 18.9% Other........................................ -- Telecommunication Services................... 0.5% Utilities.................................... 5.7% ----- 100.0% The Emerging Markets Series Consumer Discretionary....................... 9.3% Consumer Staples............................. 8.3% Energy....................................... 8.8% Financials................................... 26.1% Health Care.................................. 2.2% Industrials.................................. 7.9% Information Technology....................... 17.4% Materials.................................... 8.9% Other........................................ -- Telecommunication Services................... 7.3% Utilities.................................... 3.8% ----- 100.0% The Emerging Markets Small Cap Series Consumer Discretionary....................... 17.7% Consumer Staples............................. 8.8% Energy....................................... 2.3% Financials................................... 16.1% Health Care.................................. 6.0% Industrials.................................. 17.7% Information Technology....................... 13.5% Materials.................................... 13.0% Other........................................ -- Real Estate Investment Trusts................ 0.1% Telecommunication Services................... 1.0% Utilities.................................... 3.8% ----- 100.0% 244 THE U.S. LARGE CAP VALUE SERIES SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (95.1%) Consumer Discretionary -- (11.7%) Comcast Corp. Class A................ 9,873,756 $ 546,512,395 3.0% # Comcast Corp. Special Class A........ 3,813,064 210,252,349 1.1% General Motors Co.................... 3,814,989 119,790,655 0.7% Time Warner Cable, Inc............... 1,876,119 276,183,478 1.5% # Time Warner, Inc..................... 5,052,904 401,554,281 2.2% Other Securities..................... 691,314,995 3.7% -------------- ----- Total Consumer Discretionary............. 2,245,608,153 12.2% -------------- ----- Consumer Staples -- (6.4%) Archer-Daniels-Midland Co............ 2,861,952 134,511,744 0.7% CVS Health Corp...................... 6,986,047 599,472,693 3.3% Mondelez International, Inc. Class A. 6,213,977 219,104,829 1.2% Other Securities..................... 283,040,723 1.5% -------------- ----- Total Consumer Staples................... 1,236,129,989 6.7% -------------- ----- Energy -- (19.8%) Anadarko Petroleum Corp.............. 2,644,697 242,730,291 1.3% Apache Corp.......................... 1,895,772 146,353,598 0.8% Chevron Corp......................... 5,620,609 674,192,050 3.7% ConocoPhillips....................... 6,993,622 504,589,827 2.7% Exxon Mobil Corp..................... 4,477,321 433,001,714 2.4% Hess Corp............................ 1,628,606 138,122,075 0.7% Marathon Oil Corp.................... 3,640,872 128,886,869 0.7% Marathon Petroleum Corp.............. 1,752,484 159,300,796 0.9% National Oilwell Varco, Inc.......... 1,968,548 142,995,327 0.8% Occidental Petroleum Corp............ 2,823,071 251,055,704 1.4% Phillips 66.......................... 2,603,498 204,374,593 1.1% Valero Energy Corp................... 2,806,975 140,601,378 0.8% Other Securities..................... 653,113,763 3.5% -------------- ----- Total Energy............................. 3,819,317,985 20.8% -------------- ----- Financials -- (19.7%) American International Group, Inc.... 3,145,850 168,523,184 0.9% Bank of America Corp................. 16,826,224 288,738,004 1.6% Bank of New York Mellon Corp. (The).. 3,470,782 134,388,679 0.7% Capital One Financial Corp........... 2,096,624 173,537,568 0.9% Citigroup, Inc....................... 5,327,316 285,171,225 1.6% Goldman Sachs Group, Inc. (The)...... 919,421 174,680,796 1.0% JPMorgan Chase & Co.................. 10,466,709 633,026,560 3.4% MetLife, Inc......................... 2,280,037 123,669,207 0.7% Morgan Stanley....................... 5,045,057 176,324,742 1.0% Prudential Financial, Inc............ 1,229,198 108,833,191 0.6% Wells Fargo & Co..................... 4,057,795 215,428,337 1.2% Other Securities..................... 1,316,622,406 7.1% -------------- ----- Total Financials......................... 3,798,943,899 20.7% -------------- ----- Health Care -- (10.1%) Aetna, Inc........................... 2,009,110 165,771,666 0.9% * Express Scripts Holding Co........... 3,072,578 236,035,442 1.3% Pfizer, Inc.......................... 22,619,948 677,467,443 3.7% Thermo Fisher Scientific, Inc........ 1,580,260 185,791,168 1.0% WellPoint, Inc....................... 1,674,297 212,116,687 1.1% Other Securities..................... 468,823,592 2.6% -------------- ----- Total Health Care........................ 1,946,005,998 10.6% -------------- ----- 245 THE U.S. LARGE CAP VALUE SERIES CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Industrials -- (11.5%) CSX Corp........................................... 5,604,703 $ 199,695,568 1.1% Eaton Corp. P.L.C.................................. 1,690,402 115,606,593 0.6% FedEx Corp......................................... 828,737 138,730,574 0.8% General Electric Co................................ 21,597,811 557,439,502 3.0% # Norfolk Southern Corp.............................. 1,681,939 186,089,731 1.0% Northrop Grumman Corp.............................. 1,364,645 188,266,424 1.0% Southwest Airlines Co.............................. 3,905,821 134,672,708 0.7% Union Pacific Corp................................. 2,788,102 324,674,478 1.8% Other Securities................................... 372,674,139 2.0% --------------- ------ Total Industrials........................................ 2,217,849,717 12.0% --------------- ------ Information Technology -- (8.2%) Cisco Systems, Inc................................. 8,906,456 217,940,978 1.2% Hewlett-Packard Co................................. 9,619,949 345,163,770 1.9% # Intel Corp......................................... 9,210,936 313,263,933 1.7% #* Micron Technology, Inc............................. 3,654,213 120,917,908 0.7% Other Securities................................... 586,548,708 3.1% --------------- ------ Total Information Technology............................. 1,583,835,297 8.6% --------------- ------ Materials -- (3.2%) Freeport-McMoRan, Inc.............................. 4,647,012 132,439,842 0.7% Other Securities................................... 474,065,162 2.6% --------------- ------ Total Materials.......................................... 606,505,004 3.3% --------------- ------ Telecommunication Services -- (4.2%) # AT&T, Inc.......................................... 18,488,608 644,143,103 3.5% Other Securities................................... 161,208,509 0.9% --------------- ------ Total Telecommunication Services......................... 805,351,612 4.4% --------------- ------ Utilities -- (0.3%) Other Securities................................... 52,328,955 0.3% --------------- ------ TOTAL COMMON STOCKS...................................... 18,311,876,609 99.6% --------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 7,528 0.0% --------------- ------ TEMPORARY CASH INVESTMENTS -- (0.5%) State Street Institutional Liquid Reserves, 0.077%. 87,103,094 87,103,094 0.5% --------------- ------ SECURITIES LENDING COLLATERAL -- (4.4%) (S)@ DFA Short Term Investment Fund..................... 74,271,257 859,318,447 4.7% --------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $12,592,557,040)............................... $19,258,305,678 104.8% =============== ====== 246 THE U.S. LARGE CAP VALUE SERIES CONTINUED Summary of the Series' investments as of October 31, 2014, 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...... $ 2,245,608,153 -- -- $ 2,245,608,153 Consumer Staples............ 1,236,129,989 -- -- 1,236,129,989 Energy...................... 3,819,317,985 -- -- 3,819,317,985 Financials.................. 3,798,943,899 -- -- 3,798,943,899 Health Care................. 1,946,005,998 -- -- 1,946,005,998 Industrials................. 2,217,849,717 -- -- 2,217,849,717 Information Technology...... 1,583,835,297 -- -- 1,583,835,297 Materials................... 606,505,004 -- -- 606,505,004 Telecommunication Services.. 805,351,612 -- -- 805,351,612 Utilities................... 52,328,955 -- -- 52,328,955 Rights/Warrants............. -- $ 7,528 -- 7,528 Temporary Cash Investments.... 87,103,094 -- -- 87,103,094 Securities Lending Collateral. -- 859,318,447 -- 859,318,447 --------------- ------------ -- --------------- TOTAL......................... $18,398,979,703 $859,325,975 -- $19,258,305,678 =============== ============ == =============== See accompanying Notes to Financial Statements. 247 THE DFA INTERNATIONAL VALUE SERIES SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (94.3%) AUSTRALIA -- (5.8%) Macquarie Group, Ltd............. 1,184,395 $ 64,009,420 0.7% National Australia Bank, Ltd..... 1,748,681 54,096,766 0.6% Santos, Ltd...................... 4,404,343 50,470,467 0.5% Suncorp Group, Ltd............... 3,736,013 48,613,845 0.5% # Wesfarmers, Ltd.................. 2,317,545 90,193,505 1.0% Other Securities................. 266,392,193 2.8% ------------ ---- TOTAL AUSTRALIA...................... 573,776,196 6.1% ------------ ---- AUSTRIA -- (0.1%) Other Securities................. 13,688,459 0.2% ------------ ---- BELGIUM -- (1.2%) Other Securities................. 115,542,460 1.2% ------------ ---- CANADA -- (7.8%) Canadian Natural Resources, Ltd.. 1,849,320 64,534,631 0.7% # Manulife Financial Corp.......... 3,287,435 62,391,406 0.7% Suncor Energy, Inc............... 3,750,370 133,170,496 1.4% Other Securities................. 506,038,567 5.4% ------------ ---- TOTAL CANADA......................... 766,135,100 8.2% ------------ ---- CHINA -- (0.0%) Other Securities................. 30,085 0.0% ------------ ---- DENMARK -- (1.4%) Other Securities................. 134,026,860 1.4% ------------ ---- FINLAND -- (0.7%) Other Securities................. 74,138,749 0.8% ------------ ---- FRANCE -- (8.0%) AXA SA........................... 4,004,754 92,503,906 1.0% BNP Paribas SA................... 783,124 49,213,123 0.5% Cie de St-Gobain................. 1,103,444 47,431,371 0.5% GDF Suez......................... 3,247,971 78,860,475 0.8% Orange SA........................ 3,989,277 63,510,770 0.7% Renault SA....................... 759,515 56,497,480 0.6% Societe Generale SA.............. 1,296,228 62,466,561 0.7% Vivendi SA....................... 3,686,124 90,049,366 1.0% Other Securities................. 244,827,209 2.6% ------------ ---- TOTAL FRANCE......................... 785,360,261 8.4% ------------ ---- GERMANY -- (6.3%) Allianz SE....................... 642,692 102,202,246 1.1% Bayerische Motoren Werke AG...... 765,791 82,121,669 0.9% Daimler AG....................... 2,214,556 172,666,663 1.8% Other Securities................. 258,875,046 2.8% ------------ ---- TOTAL GERMANY........................ 615,865,624 6.6% ------------ ---- HONG KONG -- (2.7%) Hutchison Whampoa, Ltd........... 5,076,000 64,497,462 0.7% Other Securities................. 202,183,086 2.2% ------------ ---- TOTAL HONG KONG...................... 266,680,548 2.9% ------------ ---- 248 THE DFA INTERNATIONAL VALUE SERIES CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- IRELAND -- (0.2%) Other Securities........................ $ 22,188,446 0.2% -------------- ----- ISRAEL -- (0.3%) Other Securities........................ 30,877,234 0.3% -------------- ----- ITALY -- (1.8%) UniCredit SpA........................... 6,991,980 50,640,963 0.5% Other Securities........................ 122,767,297 1.4% -------------- ----- TOTAL ITALY................................. 173,408,260 1.9% -------------- ----- JAPAN -- (21.0%) Honda Motor Co., Ltd.................... 2,621,200 83,797,746 0.9% Mitsubishi UFJ Financial Group, Inc..... 21,459,506 125,092,037 1.3% Mizuho Financial Group, Inc............. 51,323,400 93,527,433 1.0% Nippon Steel & Sumitomo Metal Corp...... 19,063,940 50,306,760 0.5% Nissan Motor Co., Ltd................... 5,844,900 53,315,418 0.6% NTT DOCOMO, Inc......................... 3,091,700 52,144,249 0.6% Sumitomo Mitsui Financial Group, Inc.... 2,678,800 109,249,245 1.2% Other Securities........................ 1,496,080,852 16.0% -------------- ----- TOTAL JAPAN................................. 2,063,513,740 22.1% -------------- ----- NETHERLANDS -- (3.2%) * ING Groep NV............................ 6,479,202 92,784,515 1.0% Other Securities........................ 221,541,679 2.4% -------------- ----- TOTAL NETHERLANDS 314,326,194 3.4% -------------- ----- NEW ZEALAND -- (0.1%) Other Securities........................ 9,374,710 0.1% -------------- ----- NORWAY -- (0.8%) Other Securities........................ 76,742,959 0.8% -------------- ----- PORTUGAL -- (0.0%) Other Securities........................ 3,873,915 0.0% -------------- ----- SINGAPORE -- (1.2%) Other Securities........................ 116,978,973 1.3% -------------- ----- SPAIN -- (2.4%) Iberdrola SA............................ 11,714,112 82,923,213 0.9% Other Securities........................ 153,903,256 1.6% -------------- ----- TOTAL SPAIN................................. 236,826,469 2.5% -------------- ----- SWEDEN -- (3.0%) Nordea Bank AB.......................... 3,823,977 49,183,048 0.5% Telefonaktiebolaget LM Ericsson Class B. 4,879,427 57,657,241 0.6% Other Securities........................ 187,488,169 2.1% -------------- ----- TOTAL SWEDEN................................ 294,328,458 3.2% -------------- ----- SWITZERLAND -- (9.9%) ABB, Ltd................................ 3,170,149 69,548,848 0.7% Holcim, Ltd............................. 887,877 63,016,649 0.7% Novartis AG............................. 2,434,443 225,923,258 2.4% Novartis AG ADR......................... 681,571 63,174,816 0.7% Swiss Re AG............................. 1,547,148 125,103,648 1.3% 249 THE DFA INTERNATIONAL VALUE SERIES CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- SWITZERLAND -- (Continued) UBS AG.................................. 4,344,251 $ 75,538,418 0.8% Zurich Insurance Group AG............... 333,311 100,869,393 1.1% Other Securities........................ 246,924,514 2.7% -------------- ------ TOTAL SWITZERLAND............................. 970,099,544 10.4% -------------- ------ UNITED KINGDOM -- (16.4%) Anglo American P.L.C.................... 3,310,475 69,895,879 0.7% # Barclays P.L.C. Sponsored ADR........... 5,060,358 77,929,513 0.8% BP P.L.C. Sponsored ADR................. 7,387,909 321,078,524 3.4% Glencore P.L.C.......................... 9,442,477 48,445,899 0.5% HSBC Holdings P.L.C..................... 9,197,250 93,769,306 1.0% HSBC Holdings P.L.C. Sponsored ADR...... 2,089,967 106,630,116 1.1% # Royal Dutch Shell P.L.C. ADR(780259107). 3,323,210 248,144,091 2.7% Royal Dutch Shell P.L.C. ADR(780259206). 755,142 54,211,644 0.6% Standard Chartered P.L.C................ 4,120,837 62,029,541 0.7% Vodafone Group P.L.C.................... 27,417,470 91,175,542 1.0% Vodafone Group P.L.C. Sponsored ADR..... 2,196,216 72,958,305 0.8% Other Securities........................ 361,708,827 3.9% -------------- ------ TOTAL UNITED KINGDOM.......................... 1,607,977,187 17.2% -------------- ------ TOTAL COMMON STOCKS........................... 9,265,760,431 99.2% -------------- ------ PREFERRED STOCKS -- (0.2%) GERMANY -- (0.2%) Other Securities........................ 20,887,882 0.2% -------------- ------ RIGHTS/WARRANTS -- (0.0%) FRANCE -- (0.0%) Other Securities........................ 241,112 0.0% -------------- ------ SPAIN -- (0.0%) Other Securities........................ 648,719 0.0% -------------- ------ TOTAL RIGHTS/WARRANTS......................... 889,831 0.0% -------------- ------ Value+ - ------ SECURITIES LENDING COLLATERAL -- (5.5%) (S)@ DFA Short Term Investment Fund.......... 46,617,671 539,366,448 5.8% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $8,769,870,982)..................... $9,826,904,592 105.2% ============== ====== 250 THE DFA INTERNATIONAL VALUE SERIES CONTINUED Summary of the Series' investments as of October 31, 2014, 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................... $ 18,343,012 $ 555,433,184 -- $ 573,776,196 Austria..................... -- 13,688,459 -- 13,688,459 Belgium..................... 3,605,664 111,936,796 -- 115,542,460 Canada...................... 766,135,100 -- -- 766,135,100 China....................... -- 30,085 -- 30,085 Denmark..................... -- 134,026,860 -- 134,026,860 Finland..................... 1,844,352 72,294,397 -- 74,138,749 France...................... 4,069,567 781,290,694 -- 785,360,261 Germany..................... 60,551,498 555,314,126 -- 615,865,624 Hong Kong................... -- 266,680,548 -- 266,680,548 Ireland..................... 4,822,991 17,365,455 -- 22,188,446 Israel...................... 752,406 30,124,828 -- 30,877,234 Italy....................... 21,181,850 152,226,410 -- 173,408,260 Japan....................... 69,435,900 1,994,077,840 -- 2,063,513,740 Netherlands................. 26,977,934 287,348,260 -- 314,326,194 New Zealand................. -- 9,374,710 -- 9,374,710 Norway...................... 5,167,596 71,575,363 -- 76,742,959 Portugal.................... -- 3,873,915 -- 3,873,915 Singapore................... -- 116,978,973 -- 116,978,973 Spain....................... 6,381,719 230,444,750 -- 236,826,469 Sweden...................... 11,273,598 283,054,860 -- 294,328,458 Switzerland................. 96,770,573 873,328,971 -- 970,099,544 United Kingdom.............. 924,692,710 683,284,477 -- 1,607,977,187 Preferred Stocks Germany..................... -- 20,887,882 -- 20,887,882 Rights/Warrants France...................... -- 241,112 -- 241,112 Spain....................... -- 648,719 -- 648,719 Securities Lending Collateral. -- 539,366,448 -- 539,366,448 -------------- -------------- -- -------------- TOTAL......................... $2,022,006,470 $7,804,898,122 -- $9,826,904,592 ============== ============== == ============== See accompanying Notes to Financial Statements. 251 THE JAPANESE SMALL COMPANY SERIES SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (86.8%) Consumer Discretionary -- (17.9%) Aoyama Trading Co., Ltd..................... 315,900 $ 7,513,669 0.3% H2O Retailing Corp.......................... 442,605 7,361,480 0.3% Nifco, Inc.................................. 295,500 9,363,392 0.4% # Resorttrust, Inc............................ 291,116 7,018,444 0.3% Shimachu Co., Ltd........................... 295,800 7,615,745 0.3% Wacoal Holdings Corp........................ 629,000 6,550,239 0.3% Other Securities............................ 466,467,139 18.5% ------------ ----- Total Consumer Discretionary.................... 511,890,108 20.4% ------------ ----- Consumer Staples -- (7.6%) Matsumotokiyoshi Holdings Co., Ltd.......... 229,700 6,680,147 0.3% Sapporo Holdings, Ltd....................... 1,993,000 8,625,333 0.4% # Takara Holdings, Inc........................ 814,000 6,480,260 0.3% # UNY Group Holdings Co., Ltd................. 1,471,300 7,799,995 0.3% Other Securities............................ 189,525,032 7.4% ------------ ----- Total Consumer Staples.......................... 219,110,767 8.7% ------------ ----- Energy -- (0.9%) Other Securities............................ 25,847,200 1.0% ------------ ----- Financials -- (10.2%) Awa Bank, Ltd. (The)........................ 1,185,000 7,105,993 0.3% Daishi Bank, Ltd. (The)..................... 2,061,000 7,293,168 0.3% Higo Bank, Ltd. (The)....................... 1,151,000 6,551,664 0.3% Juroku Bank, Ltd. (The)..................... 2,060,000 8,124,606 0.3% Keiyo Bank, Ltd. (The)...................... 1,325,000 6,927,376 0.3% #* Leopalace21 Corp............................ 1,523,700 9,543,623 0.4% Musashino Bank, Ltd. (The).................. 203,400 6,891,841 0.3% North Pacific Bank, Ltd..................... 1,846,200 7,610,951 0.3% San-In Godo Bank, Ltd. (The)................ 980,000 7,550,640 0.3% Senshu Ikeda Holdings, Inc.................. 1,365,100 7,062,181 0.3% Other Securities............................ 217,936,777 8.6% ------------ ----- Total Financials................................ 292,598,820 11.7% ------------ ----- Health Care -- (4.3%) Other Securities............................ 122,558,383 4.9% ------------ ----- Industrials -- (25.8%) Aica Kogyo Co., Ltd......................... 318,300 6,588,512 0.3% DMG Mori Seiki Co., Ltd..................... 577,200 6,798,023 0.3% Fujikura, Ltd............................... 2,042,000 8,577,639 0.4% # Furukawa Electric Co., Ltd.................. 4,610,000 8,136,200 0.3% Glory, Ltd.................................. 274,400 7,071,142 0.3% # Hazama Ando Corp............................ 1,049,700 7,056,975 0.3% # Iwatani Corp................................ 1,107,000 7,568,717 0.3% # Japan Steel Works, Ltd. (The)............... 1,988,000 7,111,136 0.3% # Maeda Corp.................................. 845,000 7,470,851 0.3% Mitsui Engineering & Shipbuilding Co., Ltd.. 4,886,000 10,622,003 0.4% Nishi-Nippon Railroad Co., Ltd.............. 1,627,000 6,482,809 0.3% Nishimatsu Construction Co., Ltd............ 1,855,000 9,006,722 0.4% Nisshinbo Holdings, Inc..................... 929,000 7,672,103 0.3% OSG Corp.................................... 455,100 7,420,946 0.3% Sankyu, Inc................................. 1,561,000 7,216,910 0.3% 252 THE JAPANESE SMALL COMPANY SERIES CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- Industrials -- (Continued) Sanwa Holdings Corp................ 1,262,100 $ 8,751,418 0.4% Tsubakimoto Chain Co............... 854,700 6,742,103 0.3% Other Securities................... 607,859,813 24.0% -------------- ------ Total Industrials........................ 738,154,022 29.5% -------------- ------ Information Technology -- (10.0%) Anritsu Corp....................... 865,700 6,702,549 0.3% Horiba, Ltd........................ 218,850 7,917,501 0.3% # IT Holdings Corp................... 519,701 8,491,586 0.4% Oki Electric Industry Co., Ltd..... 4,385,000 10,188,368 0.4% # SCREEN Holdings Co., Ltd........... 1,267,000 6,905,771 0.3% # Taiyo Yuden Co., Ltd............... 661,300 6,797,894 0.3% Other Securities................... 239,685,095 9.4% -------------- ------ Total Information Technology............. 286,688,764 11.4% -------------- ------ Materials -- (9.6%) ADEKA Corp......................... 530,500 6,847,875 0.3% Lintec Corp........................ 312,600 6,526,618 0.3% Mitsui Mining & Smelting Co., Ltd.. 3,666,000 9,724,344 0.4% Nihon Parkerizing Co., Ltd......... 275,800 6,583,269 0.3% # Sumitomo Osaka Cement Co., Ltd..... 2,682,000 8,383,958 0.3% Tokuyama Corp...................... 2,222,000 6,495,139 0.3% Toyobo Co., Ltd.................... 5,435,000 7,823,086 0.3% Other Securities................... 223,923,257 8.8% -------------- ------ Total Materials.......................... 276,307,546 11.0% -------------- ------ Telecommunication Services -- (0.1%) Other Securities................... 4,309,409 0.2% -------------- ------ Utilities -- (0.4%) Other Securities................... 11,429,517 0.5% -------------- ------ TOTAL COMMON STOCKS...................... 2,488,894,536 99.3% -------------- ------ Value+ - ------ - SECURITIES LENDING COLLATERAL -- (13.2%) (S)@ DFA Short Term Investment Fund..... 32,591,293 377,081,264 15.1% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $2,741,341,199)................ $2,865,975,800 114.4% ============== ====== 253 THE JAPANESE SMALL COMPANY SERIES CONTINUED Summary of the Series' investments as of October 31, 2014, 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...... $ 4,646,036 $ 507,244,072 -- $ 511,890,108 Consumer Staples............ 803,849 218,306,918 -- 219,110,767 Energy...................... -- 25,847,200 -- 25,847,200 Financials.................. 10,448,978 282,149,842 -- 292,598,820 Health Care................. -- 122,558,383 -- 122,558,383 Industrials................. -- 738,154,022 -- 738,154,022 Information Technology...... -- 286,688,764 -- 286,688,764 Materials................... -- 276,307,546 -- 276,307,546 Telecommunication Services.. -- 4,309,409 -- 4,309,409 Utilities................... -- 11,429,517 -- 11,429,517 Securities Lending Collateral. -- 377,081,264 -- 377,081,264 ----------- -------------- -- -------------- TOTAL......................... $15,898,863 $2,850,076,937 -- $2,865,975,800 =========== ============== == ============== See accompanying Notes to Financial Statements. 254 THE ASIA PACIFIC SMALL COMPANY SERIES SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (78.7%) AUSTRALIA -- (41.6%) # Adelaide Brighton, Ltd................ 3,634,701 $ 10,838,815 0.8% Ansell, Ltd........................... 544,496 9,550,805 0.7% # Aristocrat Leisure, Ltd............... 3,124,863 17,765,461 1.2% # Beach Energy, Ltd..................... 9,353,942 9,675,702 0.7% * BlueScope Steel, Ltd.................. 1,945,699 9,070,776 0.6% # carsales.com, Ltd..................... 1,736,291 16,384,267 1.1% CSR, Ltd.............................. 3,291,003 10,072,540 0.7% # Downer EDI, Ltd....................... 2,989,518 12,624,250 0.9% DuluxGroup, Ltd....................... 3,082,903 14,569,397 1.0% # Echo Entertainment Group, Ltd......... 4,331,523 14,543,934 1.0% Fairfax Media, Ltd.................... 14,676,907 10,549,342 0.7% # GrainCorp, Ltd. Class A............... 1,240,760 9,596,665 0.7% # iiNET, Ltd............................ 1,110,524 7,836,764 0.5% Independence Group NL................. 1,827,105 7,316,662 0.5% # Invocare, Ltd......................... 894,310 9,542,450 0.7% # IOOF Holdings, Ltd.................... 1,906,008 15,203,012 1.1% # Iress, Ltd............................ 1,080,718 9,403,408 0.7% # JB Hi-Fi, Ltd......................... 860,733 11,852,634 0.8% # M2 Group, Ltd......................... 1,270,142 8,813,121 0.6% # Metcash, Ltd.......................... 4,422,950 11,046,633 0.8% # Mineral Resources, Ltd................ 1,202,488 9,013,856 0.6% # Monadelphous Group, Ltd............... 707,732 7,849,897 0.5% # Myer Holdings, Ltd.................... 4,168,808 7,079,608 0.5% # NIB Holdings, Ltd..................... 2,712,998 7,818,566 0.5% # OZ Minerals, Ltd...................... 2,263,016 7,776,456 0.5% # Perpetual, Ltd........................ 359,597 14,703,016 1.0% Primary Health Care, Ltd.............. 3,240,864 13,281,170 0.9% * Qantas Airways, Ltd................... 4,914,897 7,343,406 0.5% Reece Australia, Ltd.................. 238,257 6,983,909 0.5% # Sims Metal Management, Ltd............ 1,378,490 13,761,961 1.0% # Sirtex Medical, Ltd................... 409,434 9,401,832 0.7% Spark Infrastructure Group............ 10,691,774 17,972,704 1.2% # Super Retail Group, Ltd............... 1,291,875 8,382,739 0.6% Tabcorp Holdings, Ltd................. 2,426,529 8,716,499 0.6% # TPG Telecom, Ltd...................... 1,231,044 7,970,965 0.6% # Transpacific Industries Group, Ltd.... 9,657,560 7,675,573 0.5% #* UGL, Ltd.............................. 1,220,877 7,551,660 0.5% Other Securities...................... 376,339,345 25.7% --------------- ----- TOTAL AUSTRALIA........................... 765,879,800 52.7% --------------- ----- BERMUDA -- (0.0%) Other Securities...................... 26,808 0.0% --------------- ----- CHINA -- (0.2%) Other Securities...................... 3,119,336 0.2% --------------- ----- HONG KONG -- (20.7%) Dah Sing Financial Holdings, Ltd...... 1,208,544 7,525,263 0.5% # Esprit Holdings, Ltd.................. 13,739,550 17,211,169 1.2% Hopewell Holdings, Ltd................ 2,973,000 10,569,755 0.7% # Luk Fook Holdings International, Ltd.. 2,792,000 8,306,888 0.6% Melco International Development, Ltd.. 3,620,000 9,838,366 0.7% Xinyi Glass Holdings, Ltd............. 16,212,000 9,536,952 0.7% Other Securities...................... 317,754,477 21.8% --------------- ----- TOTAL HONG KONG...................................... 380,742,870 26.2% --------------- ----- 255 THE ASIA PACIFIC SMALL COMPANY SERIES CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- NEW ZEALAND -- (7.1%) # Fisher & Paykel Healthcare Corp., Ltd.. 4,076,344 $ 17,813,660 1.2% # Infratil, Ltd.......................... 3,206,161 7,206,718 0.5% # Ryman Healthcare, Ltd.................. 2,312,512 13,691,535 0.9% # Sky Network Television, Ltd............ 2,017,881 10,019,430 0.7% # SKYCITY Entertainment Group, Ltd....... 4,308,638 13,173,223 0.9% Other Securities....................... 68,677,900 4.8% --------------- ------ TOTAL NEW ZEALAND............................ 130,582,466 9.0% --------------- ------ SINGAPORE -- (9.1%) Singapore Post, Ltd.................... 6,765,120 10,383,577 0.7% Venture Corp., Ltd..................... 1,694,000 10,203,641 0.7% Other Securities....................... 146,437,456 10.1% --------------- ------ TOTAL SINGAPORE.............................. 167,024,674 11.5% --------------- ------ TOTAL COMMON STOCKS.......................... 1,447,375,954 99.6% --------------- ------ RIGHTS/WARRANTS -- (0.0%) AUSTRALIA -- (0.0%) Other Securities....................... -- 0.0% --------------- ------ HONG KONG -- (0.0%) Other Securities....................... 87,216 0.0% --------------- ------ SINGAPORE -- (0.0%) Other Securities....................... 2,095 0.0% --------------- ------ TOTAL RIGHTS/WARRANTS........................ 89,311 0.0% --------------- ------ Value+ - ------ - SECURITIES LENDING COLLATERAL -- (21.3%) (S)@ DFA Short Term Investment Fund......... 33,782,209 390,860,156 26.9% --------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $1,833,068,732).................... $ 1,838,325,421 126.5% =============== ====== Summary of the Series' investments as of October 31, 2014, 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..................... $12,261,409 $ 753,618,391 -- $ 765,879,800 Bermuda....................... -- 26,808 -- 26,808 China......................... -- 3,119,336 -- 3,119,336 Hong Kong..................... 1,079,370 379,663,500 -- 380,742,870 New Zealand................... 396,491 130,185,975 -- 130,582,466 Singapore..................... 485,216 166,539,458 -- 167,024,674 Rights/Warrants Australia..................... -- -- -- -- Hong Kong..................... -- 87,216 -- 87,216 Singapore..................... -- 2,095 -- 2,095 Securities Lending Collateral. -- 390,860,156 -- 390,860,156 ----------- -------------- -- -------------- TOTAL........................... $14,222,486 $1,824,102,935 -- $1,838,325,421 =========== ============== == ============== See accompanying Notes to Financial Statements. 256 THE UNITED KINGDOM SMALL COMPANY SERIES SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (97.3%) Consumer Discretionary -- (25.2%) Barratt Developments P.L.C........ 3,291,665 $ 22,127,812 1.1% Bellway P.L.C..................... 652,849 18,313,143 0.9% Berkeley Group Holdings P.L.C..... 687,947 25,159,106 1.3% Daily Mail & General Trust P.L.C.. 1,422,483 17,999,359 0.9% Dixons Carphone P.L.C............. 2,319,507 14,728,353 0.7% Greene King P.L.C................. 1,421,372 18,273,797 0.9% Howden Joinery Group P.L.C........ 3,423,456 18,783,244 0.9% Inchcape P.L.C.................... 2,330,419 25,961,589 1.3% Informa P.L.C..................... 3,256,622 25,106,456 1.3% Rightmove P.L.C................... 492,413 16,655,156 0.8% Taylor Wimpey P.L.C............... 14,989,056 28,472,629 1.4% * Thomas Cook Group P.L.C........... 7,517,966 14,978,554 0.8% WH Smith P.L.C.................... 711,405 12,844,258 0.6% William Hill P.L.C................ 4,494,667 25,956,438 1.3% Other Securities.................. 228,230,551 11.5% ------------ ----- Total Consumer Discretionary.......... 513,590,445 25.7% ------------ ----- Consumer Staples -- (4.5%) Booker Group P.L.C................ 7,511,637 16,881,209 0.8% Britvic P.L.C..................... 1,277,429 13,927,819 0.7% Tate & Lyle P.L.C................. 1,515,587 14,667,991 0.7% Other Securities.................. 46,852,034 2.4% ------------ ----- Total Consumer Staples................ 92,329,053 4.6% ------------ ----- Energy -- (4.6%) AMEC P.L.C........................ 1,114,094 18,576,553 0.9% John Wood Group P.L.C............. 1,961,228 20,808,838 1.0% Other Securities.................. 54,101,541 2.8% ------------ ----- Total Energy.......................... 93,486,932 4.7% ------------ ----- Financials -- (14.7%) Amlin P.L.C....................... 2,654,495 19,373,906 1.0% Catlin Group, Ltd................. 1,883,388 16,179,782 0.8% Close Brothers Group P.L.C........ 788,970 18,514,828 0.9% Henderson Group P.L.C............. 5,677,167 19,118,900 1.0% Hiscox, Ltd....................... 1,674,250 18,260,643 0.9% ICAP P.L.C........................ 2,893,657 19,427,173 1.0% IG Group Holdings P.L.C........... 1,931,185 18,611,712 0.9% Man Group P.L.C................... 9,800,117 19,431,406 1.0% Other Securities.................. 151,018,176 7.5% ------------ ----- Total Financials...................... 299,936,526 15.0% ------------ ----- Health Care -- (3.7%) * BTG P.L.C......................... 1,781,080 21,529,272 1.1% Hikma Pharmaceuticals P.L.C....... 713,706 21,647,047 1.1% Other Securities.................. 32,975,002 1.6% ------------ ----- Total Health Care..................... 76,151,321 3.8% ------------ ----- Industrials -- (24.2%) Ashtead Group P.L.C............... 1,347,260 22,572,306 1.1% BBA Aviation P.L.C................ 2,792,163 15,805,781 0.8% Berendsen P.L.C................... 852,867 13,810,534 0.7% Cobham P.L.C...................... 5,618,202 26,207,126 1.3% 257 THE UNITED KINGDOM SMALL COMPANY SERIES CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- Industrials -- (Continued) DCC P.L.C....................... 447,754 $ 25,092,474 1.3% Hays P.L.C...................... 7,359,440 14,534,905 0.7% Melrose Industries P.L.C........ 4,127,987 16,966,362 0.9% Rentokil Initial P.L.C.......... 9,576,875 18,886,873 1.0% Rotork P.L.C.................... 446,606 18,307,009 0.9% Spirax-Sarco Engineering P.L.C.. 399,105 18,236,514 0.9% Stagecoach Group P.L.C.......... 2,248,039 13,934,215 0.7% Other Securities................ 289,288,480 14.5% -------------- ------ Total Industrials...................... 493,642,579 24.8% -------------- ------ Information Technology -- (8.5%) Halma P.L.C..................... 2,008,362 20,039,284 1.0% Spectris P.L.C.................. 601,319 17,368,409 0.9% # Telecity Group P.L.C............ 1,018,433 12,576,541 0.6% Other Securities................ 121,983,693 6.1% -------------- ------ Total Information Technology........... 171,967,927 8.6% -------------- ------ Materials -- (6.6%) Croda International P.L.C....... 463,619 17,045,566 0.9% DS Smith P.L.C.................. 4,875,734 20,708,475 1.0% Essentra P.L.C.................. 1,229,761 13,539,887 0.7% Other Securities................ 83,503,314 4.2% -------------- ------ Total Materials........................ 134,797,242 6.8% -------------- ------ Telecommunication Services -- (2.7%) Inmarsat P.L.C.................. 2,296,017 25,210,004 1.3% TalkTalk Telecom Group P.L.C.... 2,703,937 13,013,957 0.6% Other Securities................ 17,470,514 0.9% -------------- ------ Total Telecommunication Services....... 55,694,475 2.8% -------------- ------ Utilities -- (2.6%) Drax Group P.L.C................ 2,103,725 20,016,929 1.0% Pennon Group P.L.C.............. 2,061,341 27,507,186 1.4% Other Securities................ 4,895,586 0.2% -------------- ------ Total Utilities........................ 52,419,701 2.6% -------------- ------ TOTAL COMMON STOCKS.................... 1,984,016,201 99.4% -------------- ------ RIGHTS/WARRANTS -- (0.1%) Other Securities................ 1,128,981 0.1% -------------- ------ SECURITIES LENDING COLLATERAL -- (2.6%) (S)@ DFA Short Term Investment Fund.. 4,557,215 52,726,974 2.6% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $1,533,323,942).............. $2,037,872,156 102.1% ============== ====== 258 THE UNITED KINGDOM SMALL COMPANY SERIES CONTINUED Summary of the Series' investments as of October 31, 2014, 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...... $1,705,687 $ 511,884,758 -- $ 513,590,445 Consumer Staples............ -- 92,329,053 -- 92,329,053 Energy...................... -- 93,486,932 -- 93,486,932 Financials.................. -- 299,936,526 -- 299,936,526 Health Care................. 413,391 75,737,930 -- 76,151,321 Industrials................. -- 493,642,579 -- 493,642,579 Information Technology...... 36,400 171,931,527 -- 171,967,927 Materials................... 41,172 134,756,070 -- 134,797,242 Telecommunication Services.. -- 55,694,475 -- 55,694,475 Utilities................... -- 52,419,701 -- 52,419,701 Rights/Warrants............... 1,083,818 45,163 -- 1,128,981 Securities Lending Collateral. -- 52,726,974 -- 52,726,974 ---------- -------------- -- -------------- TOTAL......................... $3,280,468 $2,034,591,688 -- $2,037,872,156 ========== ============== == ============== See accompanying Notes to Financial Statements. 259 THE CONTINENTAL SMALL COMPANY SERIES SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (87.6%) AUSTRIA -- (2.0%) Other Securities........... $ 71,759,411 2.3% ------------ ------ BELGIUM -- (2.9%) Ackermans & van Haaren NV.. 121,561 15,159,547 0.5% Other Securities........... 90,389,162 2.8% ------------ ------ TOTAL BELGIUM.................. 105,548,709 3.3% ------------ ------ DENMARK -- (4.6%) GN Store Nord A.S.......... 772,340 17,970,374 0.6% * Jyske Bank A.S............. 267,531 14,424,929 0.5% * Topdanmark A.S............. 507,925 16,167,201 0.5% * Vestas Wind Systems A.S.... 531,291 17,731,821 0.6% Other Securities........... 99,264,289 3.1% ------------ ------ TOTAL DENMARK.................. 165,558,614 5.3% ------------ ------ FINLAND -- (6.0%) Elisa Oyj.................. 702,558 19,299,483 0.6% Huhtamaki Oyj.............. 452,365 11,478,833 0.4% Kesko Oyj Class B.......... 315,046 11,948,285 0.4% Metso Oyj.................. 469,957 15,354,503 0.5% # Neste Oil Oyj.............. 609,759 13,158,259 0.4% Orion Oyj Class B.......... 401,178 13,644,702 0.4% Other Securities........... 130,365,473 4.1% ------------ ------ TOTAL FINLAND.................. 215,249,538 6.8% ------------ ------ FRANCE -- (10.4%) # Ingenico................... 171,744 17,109,701 0.6% Lagardere SCA.............. 585,070 14,238,458 0.5% # Neopost SA................. 171,272 11,886,247 0.4% Teleperformance............ 289,816 18,262,629 0.6% Other Securities........... 309,485,159 9.7% ------------ ------ TOTAL FRANCE................... 370,982,194 11.8% ------------ ------ GERMANY -- (13.1%) Aareal Bank AG............. 423,110 18,179,030 0.6% Deutsche Wohnen AG......... 885,948 19,997,303 0.6% Freenet AG................. 631,511 16,569,366 0.5% MTU Aero Engines AG........ 248,035 21,753,942 0.7% Rhoen Klinikum AG.......... 500,406 14,899,557 0.5% Stada Arzneimittel AG...... 298,237 11,491,332 0.4% TUI AG..................... 883,403 13,528,431 0.4% Other Securities........... 352,370,875 11.2% ------------ ------ TOTAL GERMANY.................. 468,789,836 14.9% ------------ ------ GREECE -- (0.0%) Other Securities........... 846 0.0% ------------ ------ IRELAND -- (1.9%) Paddy Power P.L.C.......... 175,221 12,788,109 0.4% Smurfit Kappa Group P.L.C.. 564,905 11,671,917 0.4% Other Securities........... 43,098,054 1.3% ------------ ------ TOTAL IRELAND.................. 67,558,080 2.1% ------------ ------ 260 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- ISRAEL -- (2.3%) Other Securities...................... $ 81,625,599 2.6% -------------- ------ ITALY -- (8.6%) Azimut Holding SpA.................... 526,953 12,333,896 0.4% * Banca Popolare dell'Emilia Romagna SC. 2,452,950 18,717,677 0.6% * Banca Popolare di Milano Scarl........ 21,335,561 16,081,112 0.5% * Finmeccanica SpA...................... 1,840,364 16,630,273 0.5% Prysmian SpA.......................... 930,455 16,125,875 0.5% Other Securities...................... 229,452,418 7.3% -------------- ------ TOTAL ITALY............................... 309,341,251 9.8% -------------- ------ NETHERLANDS -- (5.2%) Aalberts Industries NV................ 507,343 13,523,613 0.4% Delta Lloyd NV........................ 1,074,736 24,496,720 0.8% Nutreco NV............................ 360,777 18,070,377 0.6% #* SBM Offshore NV....................... 962,257 12,044,543 0.4% TNT Express NV........................ 2,283,752 13,274,323 0.4% Other Securities...................... 104,658,516 3.3% -------------- ------ TOTAL NETHERLANDS......................... 186,068,092 5.9% -------------- ------ NORWAY -- (2.7%) Other Securities...................... 97,515,854 3.1% -------------- ------ PORTUGAL -- (1.4%) * Banco Comercial Portugues SA.......... 116,756,305 13,196,571 0.4% Other Securities...................... 37,431,451 1.2% -------------- ------ TOTAL PORTUGAL............................ 50,628,022 1.6% -------------- ------ SPAIN -- (5.6%) # Bolsas y Mercados Espanoles SA........ 387,022 14,724,818 0.5% * Gamesa Corp. Tecnologica SA........... 1,146,125 11,315,727 0.4% * Jazztel P.L.C......................... 1,097,205 17,541,651 0.6% # Viscofan SA........................... 224,736 13,214,604 0.4% Other Securities...................... 142,936,668 4.4% -------------- ------ TOTAL SPAIN............................... 199,733,468 6.3% -------------- ------ SWEDEN -- (9.2%) Castellum AB.......................... 752,681 11,542,461 0.4% JM AB................................. 372,482 12,039,459 0.4% Other Securities...................... 306,117,751 9.7% -------------- ------ TOTAL SWEDEN.............................. 329,699,671 10.5% -------------- ------ SWITZERLAND -- (11.7%) ams AG................................ 305,882 10,968,617 0.4% * Dufry AG.............................. 105,189 15,165,112 0.5% Flughafen Zuerich AG.................. 19,754 12,587,599 0.4% GAM Holding AG........................ 828,863 14,155,213 0.5% Georg Fischer AG...................... 20,425 11,796,958 0.4% Helvetia Holding AG................... 32,824 15,608,324 0.5% Lonza Group AG........................ 216,869 23,896,040 0.8% PSP Swiss Property AG................. 148,327 12,730,412 0.4% Straumann Holding AG.................. 47,712 11,746,936 0.4% Other Securities...................... 289,849,302 9.0% -------------- ------ TOTAL SWITZERLAND......................... 418,504,513 13.3% -------------- ------ TOTAL COMMON STOCKS....................... 3,138,563,698 99.6% -------------- ------ 261 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- RIGHTS/WARRANTS -- (0.1%) AUSTRIA -- (0.0%) Other Securities................ $ 430 0.0% -------------- ------ FRANCE -- (0.1%) Other Securities................ 735,420 0.0% -------------- ------ GERMANY -- (0.0%) Other Securities................ 421,400 0.0% -------------- ------ ITALY -- (0.0%) Other Securities................ 172,545 0.0% -------------- ------ PORTUGAL -- (0.0%) Other Securities................ -- 0.0% -------------- ------ SPAIN -- (0.0%) Other Securities................ 152,032 0.0% -------------- ------ TOTAL RIGHTS/WARRANTS................... 1,481,827 0.0% -------------- ------ Value+ ------ SECURITIES LENDING COLLATERAL -- (12.3%) (S)@ DFA Short Term Investment Fund.. 38,146,040 441,349,686 14.0% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $3,059,179,623)............... $3,581,395,211 113.6% ============== ====== 262 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Summary of the Series' investments as of October 31, 2014, 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..................... -- $ 71,759,411 -- $ 71,759,411 Belgium..................... -- 105,548,709 -- 105,548,709 Denmark..................... -- 165,558,614 -- 165,558,614 Finland..................... -- 215,249,538 -- 215,249,538 France...................... $ 577,107 370,405,087 -- 370,982,194 Germany..................... 1,506,397 467,283,439 -- 468,789,836 Greece...................... -- 846 -- 846 Ireland..................... -- 67,558,080 -- 67,558,080 Israel...................... -- 81,625,599 -- 81,625,599 Italy....................... -- 309,341,251 -- 309,341,251 Netherlands................. -- 186,068,092 -- 186,068,092 Norway...................... -- 97,515,854 -- 97,515,854 Portugal.................... -- 50,628,022 -- 50,628,022 Spain....................... 34,154 199,699,314 -- 199,733,468 Sweden...................... 377,647 329,322,024 -- 329,699,671 Switzerland................. -- 418,504,513 -- 418,504,513 Rights/Warrants Austria..................... -- 430 -- 430 France...................... -- 735,420 -- 735,420 Germany..................... -- 421,400 -- 421,400 Italy....................... -- 172,545 -- 172,545 Portugal.................... -- -- -- -- Spain....................... -- 152,032 -- 152,032 Securities Lending Collateral. -- 441,349,686 -- 441,349,686 ---------- -------------- -- -------------- TOTAL......................... $2,495,305 $3,578,899,906 -- $3,581,395,211 ========== ============== == ============== See accompanying Notes to Financial Statements. 263 THE CANADIAN SMALL COMPANY SERIES SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (78.8%) Consumer Discretionary -- (8.5%) # Cineplex, Inc............................... 290,435 $ 10,941,724 1.3% # Corus Entertainment, Inc. Class B........... 414,416 7,626,093 0.9% * Great Canadian Gaming Corp.................. 302,800 5,491,533 0.7% #* Imax Corp................................... 252,317 7,430,372 0.9% Linamar Corp................................ 238,706 12,193,163 1.4% RONA, Inc................................... 681,945 8,319,723 1.0% Other Securities............................ 39,355,775 4.6% ------------ ------ Total Consumer Discretionary.................... 91,358,383 10.8% ------------ ------ Consumer Staples -- (3.0%) # Maple Leaf Foods, Inc....................... 536,764 9,286,986 1.1% Other Securities............................ 22,403,255 2.6% ------------ ------ Total Consumer Staples.......................... 31,690,241 3.7% ------------ ------ Energy -- (21.2%) * Bankers Petroleum, Ltd...................... 1,411,399 5,422,437 0.6% # Bonavista Energy Corp....................... 572,444 5,378,805 0.6% # Bonterra Energy Corp........................ 138,595 6,230,965 0.7% # Canadian Energy Services & Technology Corp.. 950,642 7,338,259 0.9% # Enbridge Income Fund Holdings, Inc.......... 246,855 6,505,118 0.8% * Gran Tierra Energy, Inc..................... 1,393,412 6,354,765 0.7% # Mullen Group, Ltd........................... 483,025 9,385,784 1.1% * NuVista Energy, Ltd......................... 678,709 6,244,809 0.7% # Parkland Fuel Corp.......................... 400,877 7,842,898 0.9% # Pason Systems, Inc.......................... 368,652 8,821,742 1.0% Secure Energy Services, Inc................. 558,354 10,339,247 1.2% ShawCor, Ltd................................ 125,996 5,550,509 0.7% # Surge Energy, Inc........................... 1,179,583 6,541,319 0.8% Trican Well Service, Ltd.................... 817,696 7,327,740 0.9% # Whitecap Resources, Inc..................... 848,168 10,979,788 1.3% Other Securities............................ 117,421,885 13.9% ------------ ------ Total Energy.................................... 227,686,070 26.8% ------------ ------ Financials -- (6.8%) Canadian Western Bank....................... 300,957 10,080,411 1.2% FirstService Corp........................... 152,248 8,045,687 0.9% # Genworth MI Canada, Inc..................... 149,254 5,217,699 0.6% Home Capital Group, Inc..................... 241,200 11,560,822 1.4% Laurentian Bank of Canada................... 163,720 7,202,198 0.8% Other Securities............................ 30,958,654 3.7% ------------ ------ Total Financials................................ 73,065,471 8.6% ------------ ------ Health Care -- (1.4%) * Endo International P.L.C.................... 82,099 5,485,893 0.7% Other Securities............................ 9,961,226 1.1% ------------ ------ Total Health Care............................... 15,447,119 1.8% ------------ ------ Industrials -- (13.1%) * ATS Automation Tooling Systems, Inc......... 500,030 6,255,643 0.7% Badger Daylighting, Ltd..................... 212,981 5,232,637 0.6% MacDonald Dettwiler & Associates, Ltd....... 112,170 8,553,205 1.0% # Ritchie Bros Auctioneers, Inc............... 378,801 9,259,543 1.1% # Russel Metals, Inc.......................... 332,255 9,684,199 1.1% 264 THE CANADIAN SMALL COMPANY SERIES CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- Industrials -- (Continued) Stantec, Inc......................... 228,285 $ 14,464,160 1.7% Toromont Industries, Ltd............. 262,225 6,261,013 0.7% TransForce, Inc...................... 442,709 10,825,660 1.3% # Westshore Terminals Investment Corp.. 274,032 8,351,891 1.0% # WSP Global, Inc...................... 234,492 7,138,477 0.8% Other Securities..................... 55,234,526 6.6% -------------- ------ Total Industrials.......................... 141,260,954 16.6% -------------- ------ Information Technology -- (5.1%) * Celestica, Inc....................... 949,607 10,430,890 1.2% DH Corp.............................. 438,495 14,006,317 1.6% Other Securities..................... 29,917,238 3.6% -------------- ------ Total Information Technology............... 54,354,445 6.4% -------------- ------ Materials -- (14.9%) CCL Industries, Inc. Class B......... 111,467 11,268,843 1.3% * Dominion Diamond Corp................ 385,640 5,395,983 0.6% HudBay Minerals, Inc................. 1,202,315 9,206,316 1.1% * Interfor Corp........................ 373,031 5,672,997 0.7% Pan American Silver Corp............. 711,104 6,574,423 0.8% Stella-Jones, Inc.................... 180,100 5,230,179 0.6% Other Securities..................... 116,725,872 13.8% -------------- ------ Total Materials............................ 160,074,613 18.9% -------------- ------ Telecommunication Services -- (0.4%) Other Securities..................... 4,162,391 0.5% -------------- ------ Utilities -- (4.4%) Algonquin Power & Utilities Corp..... 930,215 7,593,255 0.9% Capital Power Corp................... 459,109 10,420,131 1.2% # Northland Power, Inc................. 517,996 7,707,549 0.9% # Superior Plus Corp................... 668,843 7,245,972 0.9% Other Securities..................... 14,834,337 1.7% -------------- ------ Total Utilities............................ 47,801,244 5.6% -------------- ------ TOTAL COMMON STOCKS........................ 846,900,931 99.7% -------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities..................... 26,252 0.0% -------------- ------ SECURITIES LENDING COLLATERAL -- (21.2%) (S)@ DFA Short Term Investment Fund....... 19,706,531 228,004,569 26.8% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $1,214,058,509).................. $1,074,931,752 126.5% ============== ====== 265 THE CANADIAN SMALL COMPANY SERIES CONTINUED Summary of the Series' investments as of October 31, 2014, 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...... $ 91,358,383 -- -- $ 91,358,383 Consumer Staples............ 31,690,241 -- -- 31,690,241 Energy...................... 227,685,821 $ 249 -- 227,686,070 Financials.................. 73,065,471 -- -- 73,065,471 Health Care................. 15,439,083 8,036 -- 15,447,119 Industrials................. 141,260,954 -- -- 141,260,954 Information Technology...... 54,354,445 -- -- 54,354,445 Materials................... 160,037,600 37,013 -- 160,074,613 Telecommunication Services.. 4,162,391 -- -- 4,162,391 Utilities................... 47,801,244 -- -- 47,801,244 Rights/Warrants............... -- 26,252 -- 26,252 Securities Lending Collateral. -- 228,004,569 -- 228,004,569 ------------ ------------ -- -------------- TOTAL......................... $846,855,633 $228,076,119 -- $1,074,931,752 ============ ============ == ============== See accompanying Notes to Financial Statements. 266 THE EMERGING MARKETS SERIES SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (89.3%) BRAZIL -- (6.2%) # AMBEV SA ADR........................................ 4,395,524 $ 29,362,100 0.7% BRF SA ADR.......................................... 539,479 14,053,428 0.3% # Petroleo Brasileiro SA ADR.......................... 1,308,418 15,308,491 0.4% Other Securities.................................... 218,287,452 5.2% ------------ ----- TOTAL BRAZIL............................................ 277,011,471 6.6% ------------ ----- CHILE -- (1.4%) Other Securities.................................... 64,072,471 1.5% ------------ ----- CHINA -- (14.2%) Bank of China, Ltd. Class H......................... 64,409,100 30,829,478 0.7% China Construction Bank Corp. Class H............... 60,826,590 45,382,653 1.1% # China Life Insurance Co., Ltd. ADR.................. 321,472 14,385,872 0.4% China Mobile, Ltd. Sponsored ADR.................... 926,803 57,545,198 1.4% # CNOOC, Ltd. ADR..................................... 127,716 19,970,951 0.5% Industrial & Commercial Bank of China, Ltd. Class H. 70,069,185 46,432,446 1.1% # PetroChina Co., Ltd. ADR............................ 141,297 17,732,773 0.4% Tencent Holdings, Ltd............................... 4,238,200 68,117,466 1.6% Other Securities.................................... 335,139,774 8.0% ------------ ----- TOTAL CHINA............................................. 635,536,611 15.2% ------------ ----- COLOMBIA -- (0.6%) Other Securities.................................... 27,696,617 0.7% ------------ ----- CZECH REPUBLIC -- (0.2%) Other Securities.................................... 10,267,693 0.2% ------------ ----- EGYPT -- (0.1%) Other Securities.................................... 5,504,432 0.1% ------------ ----- GREECE -- (0.5%) Other Securities.................................... 21,268,474 0.5% ------------ ----- HUNGARY -- (0.2%) Other Securities.................................... 10,085,929 0.2% ------------ ----- INDIA -- (8.5%) HDFC Bank, Ltd...................................... 1,530,953 22,816,462 0.6% Infosys, Ltd........................................ 246,907 16,378,721 0.4% # Infosys, Ltd. Sponsored ADR......................... 211,972 14,172,448 0.3% ITC, Ltd............................................ 2,345,449 13,543,182 0.3% Reliance Industries, Ltd............................ 1,386,691 22,471,396 0.5% Tata Consultancy Services, Ltd...................... 504,640 21,528,073 0.5% Other Securities.................................... 271,621,769 6.5% ------------ ----- TOTAL INDIA............................................. 382,532,051 9.1% ------------ ----- INDONESIA -- (3.0%) Bank Central Asia Tbk PT............................ 12,941,000 13,970,328 0.3% Other Securities.................................... 118,273,805 2.9% ------------ ----- TOTAL INDONESIA......................................... 132,244,133 3.2% ------------ ----- 267 THE EMERGING MARKETS SERIES CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- MALAYSIA -- (4.3%) # Malayan Banking Bhd....................... 5,072,736 $ 14,965,200 0.4% Other Securities.......................... 177,724,955 4.2% ------------ ----- TOTAL MALAYSIA................................ 192,690,155 4.6% ------------ ----- MEXICO -- (5.4%) # America Movil S.A.B. de C.V. Series L..... 37,750,669 46,171,244 1.1% #* Cemex S.A.B. de C.V. Sponsored ADR........ 1,449,200 17,825,160 0.4% # Fomento Economico Mexicano S.A.B. de C.V.. 1,793,669 17,279,694 0.4% Grupo Financiero Banorte S.A.B. de C.V.... 2,706,211 17,343,062 0.4% # Grupo Mexico S.A.B. de C.V. Series B...... 4,225,397 14,543,555 0.3% Grupo Televisa S.A.B. Series CPO.......... 2,556,698 18,522,711 0.4% Other Securities.......................... 110,176,180 2.8% ------------ ----- TOTAL MEXICO.................................. 241,861,606 5.8% ------------ ----- PERU -- (0.3%) Other Securities.......................... 12,716,077 0.3% ------------ ----- PHILIPPINES -- (1.3%) Other Securities.......................... 57,906,686 1.4% ------------ ----- POLAND -- (1.7%) Other Securities.......................... 75,493,710 1.8% ------------ ----- RUSSIA -- (2.4%) Gazprom OAO Sponsored ADR................. 5,965,736 39,527,845 1.0% Other Securities.......................... 68,471,968 1.6% ------------ ----- TOTAL RUSSIA.................................. 107,999,813 2.6% ------------ ----- SOUTH AFRICA -- (7.4%) FirstRand, Ltd............................ 3,475,911 14,888,452 0.4% MTN Group, Ltd............................ 1,869,995 41,407,390 1.0% Naspers, Ltd. Class N..................... 330,032 41,164,606 1.0% Sanlam, Ltd............................... 2,156,341 13,626,005 0.3% Sasol, Ltd. Sponsored ADR................. 609,116 30,571,532 0.7% Standard Bank Group, Ltd.................. 1,470,731 18,520,581 0.4% Other Securities.......................... 171,748,520 4.1% ------------ ----- TOTAL SOUTH AFRICA............................ 331,927,086 7.9% ------------ ----- SOUTH KOREA -- (13.5%) Hana Financial Group, Inc................. 408,553 14,148,126 0.3% Hyundai Mobis Co., Ltd.................... 67,404 15,770,151 0.4% Hyundai Motor Co.......................... 153,078 24,290,657 0.6% Naver Corp................................ 28,421 20,111,321 0.5% POSCO..................................... 47,828 13,814,499 0.3% Samsung Electronics Co., Ltd.............. 82,858 96,624,233 2.3% Samsung Electronics Co., Ltd. GDR......... 49,372 28,491,043 0.7% Shinhan Financial Group Co., Ltd.......... 356,215 16,765,534 0.4% * SK Hynix, Inc............................. 591,090 26,359,238 0.6% Other Securities.......................... 349,561,403 8.4% ------------ ----- TOTAL SOUTH KOREA............................. 605,936,205 14.5% ------------ ----- SPAIN -- (0.1%) Other Securities.......................... 2,648,146 0.1% ------------ ----- 268 THE EMERGING MARKETS SERIES CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- TAIWAN -- (13.7%) Fubon Financial Holding Co., Ltd............. 7,900,233 $ 13,374,482 0.3% Hon Hai Precision Industry Co., Ltd.......... 13,621,302 43,111,377 1.0% # MediaTek, Inc................................ 1,280,995 18,296,396 0.4% Taiwan Semiconductor Manufacturing Co., Ltd.. 25,188,808 109,190,220 2.6% Other Securities............................. 429,338,339 10.4% -------------- ------ TOTAL TAIWAN....................................... 613,310,814 14.7% -------------- ------ THAILAND -- (2.6%) PTT PCL...................................... 1,203,800 13,601,425 0.3% Other Securities............................. 101,548,797 2.5% -------------- ------ TOTAL THAILAND..................................... 115,150,222 2.8% -------------- ------ TURKEY -- (1.7%) Other Securities............................. 75,903,106 1.8% -------------- ------ TOTAL COMMON STOCKS................................ 3,999,763,508 95.6% -------------- ------ PREFERRED STOCKS -- (3.7%) BRAZIL -- (3.6%) Banco Bradesco SA............................ 2,233,995 33,650,617 0.8% Itau Unibanco Holding SA..................... 2,825,064 41,923,253 1.0% Petroleo Brasileiro SA Sponsored ADR......... 1,884,456 23,046,897 0.6% Vale SA...................................... 1,529,491 13,308,584 0.3% Other Securities............................. 47,986,045 1.1% -------------- ------ TOTAL BRAZIL....................................... 159,915,396 3.8% -------------- ------ CHILE -- (0.0%) Other Securities............................. 29,097 0.0% -------------- ------ COLOMBIA -- (0.1%) Other Securities............................. 5,631,663 0.1% -------------- ------ TOTAL PREFERRED STOCKS............................. 165,576,156 3.9% -------------- ------ RIGHTS/WARRANTS -- (0.0%) HONG KONG -- (0.0%) Other Securities............................. 79,567 0.0% -------------- ------ THAILAND -- (0.0%) Other Securities............................. -- 0.0% -------------- ------ TOTAL RIGHTS/WARRANTS.............................. 79,567 0.0% -------------- ------ Value+ ------ SECURITIES LENDING COLLATERAL -- (7.0%) (S)@ DFA Short Term Investment Fund............... 27,038,515 312,835,617 7.5% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $3,254,198,535).......................... $4,478,254,848 107.0% ============== ====== 269 THE EMERGING MARKETS SERIES CONTINUED Summary of the Series' investments as of October 31, 2014, 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...................... $112,939,346 $ 164,072,125 -- $ 277,011,471 Chile....................... 29,542,788 34,529,683 -- 64,072,471 China....................... 137,498,699 498,037,912 -- 635,536,611 Colombia.................... 27,696,617 -- -- 27,696,617 Czech Republic.............. -- 10,267,693 -- 10,267,693 Egypt....................... -- 5,504,432 -- 5,504,432 Greece...................... -- 21,268,474 -- 21,268,474 Hungary..................... -- 10,085,929 -- 10,085,929 India....................... 43,191,897 339,340,154 -- 382,532,051 Indonesia................... 825,627 131,418,506 -- 132,244,133 Malaysia.................... -- 192,690,155 -- 192,690,155 Mexico...................... 241,861,606 -- -- 241,861,606 Peru........................ 12,716,077 -- -- 12,716,077 Philippines................. 776,129 57,130,557 -- 57,906,686 Poland...................... -- 75,493,710 -- 75,493,710 Russia...................... 2,510,820 105,488,993 -- 107,999,813 South Africa................ 40,617,243 291,309,843 -- 331,927,086 South Korea................. 23,107,675 582,828,530 -- 605,936,205 Spain....................... 2,648,146 -- -- 2,648,146 Taiwan...................... 14,619,258 598,691,556 -- 613,310,814 Thailand.................... 115,150,222 -- -- 115,150,222 Turkey...................... 1,080,250 74,822,856 -- 75,903,106 Preferred Stocks Brazil...................... 29,186,093 130,729,303 -- 159,915,396 Chile....................... -- 29,097 -- 29,097 Colombia.................... 5,631,663 -- -- 5,631,663 Rights/Warrants Hong Kong................... -- 79,567 -- 79,567 Thailand.................... -- -- -- -- Securities Lending Collateral. -- 312,835,617 -- 312,835,617 ------------ -------------- -- -------------- TOTAL......................... $841,600,156 $3,636,654,692 -- $4,478,254,848 ============ ============== == ============== See accompanying Notes to Financial Statements. 270 THE EMERGING MARKETS SMALL CAP SERIES SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (86.4%) ARGENTINA -- (0.0%) Other Securities........................................ $ 1 0.0% ------------ ------ BRAZIL -- (6.5%) * B2W Cia Digital......................................... 1,010,922 13,179,115 0.3% Cia Hering.............................................. 1,170,190 11,805,299 0.2% Cyrela Brazil Realty SA Empreendimentos e Participacoes. 1,928,800 9,584,339 0.2% EDP -- Energias do Brasil SA............................ 2,710,808 10,583,122 0.2% Equatorial Energia SA................................... 1,644,794 16,780,731 0.3% Estacio Participacoes SA................................ 1,461,804 16,922,055 0.4% Kroton Educacional SA................................... 2,457,240 17,508,535 0.4% MRV Engenharia e Participacoes SA....................... 3,395,133 11,229,446 0.2% Odontoprev SA........................................... 3,083,796 11,141,528 0.2% Raia Drogasil SA........................................ 1,124,075 10,193,104 0.2% Sul America SA.......................................... 1,801,909 9,564,666 0.2% Totvs SA................................................ 976,100 14,226,921 0.3% Other Securities........................................ 210,140,000 4.3% ------------ ------ TOTAL BRAZIL................................................ 362,858,861 7.4% ------------ ------ CAYMAN ISLANDS -- (0.0%) Other Securities........................................ 173,949 0.0% ------------ ------ CHILE -- (1.2%) Parque Arauco SA........................................ 5,929,777 12,167,289 0.3% Other Securities........................................ 55,087,000 1.1% ------------ ------ TOTAL CHILE................................................. 67,254,289 1.4% ------------ ------ CHINA -- (13.0%) # China Medical System Holdings, Ltd...................... 5,090,500 9,385,336 0.2% # Geely Automobile Holdings, Ltd.......................... 26,870,000 11,993,642 0.3% # Hanergy Thin Film Power Group, Ltd...................... 42,960,000 9,801,792 0.2% #* Semiconductor Manufacturing International Corp.......... 113,913,000 11,810,133 0.2% Sino Biopharmaceutical, Ltd............................. 13,536,000 13,610,428 0.3% Other Securities........................................ 669,516,693 13.6% ------------ ------ TOTAL CHINA................................................. 726,118,024 14.8% ------------ ------ COLOMBIA -- (0.1%) Other Securities........................................ 3,754,432 0.1% ------------ ------ GREECE -- (0.5%) Other Securities........................................ 29,197,746 0.6% ------------ ------ HONG KONG -- (0.0%) Other Securities........................................ 366,856 0.0% ------------ ------ HUNGARY -- (0.0%) Other Securities........................................ 755,325 0.0% ------------ ------ INDIA -- (10.7%) Aurobindo Pharma, Ltd................................... 1,129,123 17,834,037 0.4% Bharat Forge, Ltd....................................... 737,890 9,746,080 0.2% Eicher Motors, Ltd...................................... 44,217 9,154,615 0.2% 271 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- INDIA -- (Continued) UPL, Ltd................................................ 2,016,992 $ 11,377,374 0.2% Other Securities........................................ 547,895,680 11.1% ------------ ------ TOTAL INDIA................................................. 596,007,786 12.1% ------------ ------ INDONESIA -- (3.0%) Other Securities........................................ 167,649,231 3.4% ------------ ------ ISRAEL -- (0.0%) Other Securities........................................ 11,979 0.0% ------------ ------ MALAYSIA -- (5.1%) Other Securities........................................ 283,665,087 5.8% ------------ ------ MEXICO -- (4.3%) #* Alsea S.A.B. de C.V..................................... 4,466,994 14,001,806 0.3% # Banregio Grupo Financiero S.A.B. de C.V................. 1,587,291 9,194,000 0.2% #* Genomma Lab Internacional S.A.B. de C.V. Class B........ 7,354,004 18,627,686 0.4% #* Gruma S.A.B. de C.V. Class B............................ 1,606,949 17,652,722 0.4% # Grupo Aeroportuario del Centro Norte S.A.B. de C.V...... 1,896,020 9,405,301 0.2% # Grupo Aeroportuario del Pacifico S.A.B. de C.V. Class B. 2,116,469 14,454,778 0.3% Grupo Aeroportuario del Sureste S.A.B. de C.V. ADR...... 100,208 13,496,013 0.3% # Grupo Aeroportuario del Sureste S.A.B. de C.V. Class B.. 724,790 9,771,512 0.2% #* Industrias CH S.A.B. de C.V. Series B................... 1,696,510 9,294,979 0.2% * Promotora y Operadora de Infraestructura S.A.B. de C.V.. 1,454,679 20,065,469 0.4% Other Securities........................................ 106,482,210 2.0% ------------ ------ TOTAL MEXICO................................................ 242,446,476 4.9% ------------ ------ PHILIPPINES -- (1.3%) Other Securities........................................ 74,779,382 1.5% ------------ ------ POLAND -- (1.8%) Asseco Poland SA........................................ 656,782 9,749,693 0.2% Lubelski Wegiel Bogdanka SA............................. 274,756 9,120,473 0.2% Other Securities........................................ 82,706,939 1.7% ------------ ------ TOTAL POLAND................................................ 101,577,105 2.1% ------------ ------ SOUTH AFRICA -- (7.3%) Aeci, Ltd............................................... 874,500 9,805,655 0.2% AVI, Ltd................................................ 2,864,947 18,683,109 0.4% Barloworld, Ltd......................................... 1,322,234 11,486,919 0.2% # Clicks Group, Ltd....................................... 2,503,733 17,074,770 0.4% Coronation Fund Managers, Ltd........................... 1,346,747 11,660,676 0.2% # Foschini Group, Ltd. (The).............................. 1,278,900 14,457,346 0.3% Nampak, Ltd............................................. 2,719,764 11,091,128 0.2% Omnia Holdings, Ltd..................................... 586,831 11,713,180 0.2% PPC, Ltd................................................ 4,672,984 12,536,595 0.3% * Sappi, Ltd.............................................. 4,863,405 19,262,207 0.4% # Spar Group, Ltd. (The).................................. 1,304,149 15,258,631 0.3% Sun International, Ltd.................................. 901,369 10,096,536 0.2% * Telkom SA SOC, Ltd...................................... 2,411,246 12,813,649 0.3% Tongaat Hulett, Ltd..................................... 819,141 10,808,964 0.2% Other Securities........................................ 223,472,489 4.5% ------------ ------ TOTAL SOUTH AFRICA.......................................... 410,221,854 8.3% ------------ ------ 272 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- SOUTH KOREA -- (12.7%) DGB Financial Group, Inc............ 721,377 $ 10,286,948 0.2% Macquarie Korea Infrastructure Fund. 1,514,061 10,111,962 0.2% Other Securities.................... 690,451,661 14.0% -------------- ------ TOTAL SOUTH KOREA....................... 710,850,571 14.4% -------------- ------ TAIWAN -- (12.6%) Other Securities.................... 706,354,207 14.4% -------------- ------ THAILAND -- (3.9%) Other Securities.................... 216,046,356 4.4% -------------- ------ TURKEY -- (2.4%) Other Securities.................... 135,178,601 2.7% -------------- ------ TOTAL COMMON STOCKS..................... 4,835,268,118 98.3% -------------- ------ PREFERRED STOCKS -- (1.1%) BRAZIL -- (1.0%) Other Securities.................... 57,412,096 1.1% -------------- ------ CHILE -- (0.0%) Other Securities.................... 14,136 0.0% -------------- ------ COLOMBIA -- (0.1%) Other Securities.................... 3,466,398 0.1% -------------- ------ MALAYSIA -- (0.0%) Other Securities.................... 29,710 0.0% -------------- ------ TOTAL PREFERRED STOCKS.................. 60,922,340 1.2% -------------- ------ RIGHTS/WARRANTS -- (0.0%) BRAZIL -- (0.0%) Other Securities.................... 954 0.0% -------------- ------ CHINA -- (0.0%) Other Securities.................... 16,652 0.0% -------------- ------ HONG KONG -- (0.0%) Other Securities.................... 442,290 0.0% -------------- ------ INDONESIA -- (0.0%) Other Securities.................... 2,968 0.0% -------------- ------ MALAYSIA -- (0.0%) Other Securities.................... -- 0.0% -------------- ------ POLAND -- (0.0%) Other Securities.................... 2,864 0.0% -------------- ------ SOUTH KOREA -- (0.0%) Other Securities.................... 23,142 0.0% -------------- ------ TAIWAN -- (0.0%) Other Securities.................... 1,123 0.0% -------------- ------ THAILAND -- (0.0%) Other Securities.................... 12,789 0.0% -------------- ------ TOTAL RIGHTS/WARRANTS................... 502,782 0.0% -------------- ------ 273 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- SECURITIES LENDING COLLATERAL -- (12.5%) (S)@ DFA Short Term Investment Fund.. 60,395,887 $ 698,780,414 14.2% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $5,112,385,384)............... $5,595,473,654 113.7% ============== ====== Summary of the Series' investments as of October 31, 2014, 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...................... 10,395,875 $ 352,462,986 -- 362,858,861 Cayman Islands.............. 173,949 -- -- 173,949 Chile....................... 3,448,774 63,805,515 -- 67,254,289 China....................... 442,049 725,675,975 -- 726,118,024 Colombia.................... 3,754,432 -- -- 3,754,432 Greece...................... -- 29,197,746 -- 29,197,746 Hong Kong................... -- 366,856 -- 366,856 Hungary..................... -- 755,325 -- 755,325 India....................... 527,424 595,480,362 -- 596,007,786 Indonesia................... 2,642,819 165,006,412 -- 167,649,231 Israel...................... -- 11,979 -- 11,979 Malaysia.................... 97,116 283,567,971 -- 283,665,087 Mexico...................... 242,291,101 155,375 -- 242,446,476 Philippines................. -- 74,779,382 -- 74,779,382 Poland...................... -- 101,577,105 -- 101,577,105 South Africa................ 11,844,483 398,377,371 -- 410,221,854 South Korea................. 7,659,035 703,191,536 -- 710,850,571 Taiwan...................... 831,572 705,522,635 -- 706,354,207 Thailand.................... 216,046,356 -- -- 216,046,356 Turkey...................... 1,922,379 133,256,222 -- 135,178,601 Preferred Stocks Brazil...................... -- 57,412,096 -- 57,412,096 Chile....................... -- 14,136 -- 14,136 Colombia.................... 3,466,398 -- -- 3,466,398 Malaysia.................... -- 29,710 -- 29,710 Rights/Warrants Brazil...................... -- 954 -- 954 China....................... -- 16,652 -- 16,652 Hong Kong................... -- 442,290 -- 442,290 Indonesia................... -- 2,968 -- 2,968 Malaysia.................... -- -- -- -- Poland...................... -- 2,864 -- 2,864 South Korea................. -- 23,142 -- 23,142 Taiwan...................... -- 1,123 -- 1,123 Thailand.................... -- 12,789 -- 12,789 Securities Lending Collateral. -- 698,780,414 -- 698,780,414 ------------ -------------- -- -------------- TOTAL......................... $505,543,763 $5,089,929,891 -- $5,595,473,654 ============ ============== == ============== See accompanying Notes to Financial Statements. 274 THE DFA INVESTMENT TRUST COMPANY STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2014 (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 $879,034, $520,229, $354,425 and $358,051 of securities on loan, respectively)........... $18,311,884 $9,287,538 $2,488,895 $1,447,465 Temporary Cash Investments at Value & Cost................... 87,103 -- -- -- Collateral from Securities on Loan Invested in Affiliate at Value & Cost................................................ 859,318 539,366 377,081 390,860 Foreign Currencies at Value.................................. -- 17,690 1,486 2,507 Cash......................................................... 13,825 5,422 1,528 3,441 Receivables: Investment Securities Sold................................. 20,227 24,359 2,766 1,118 Dividends, Interest and Tax Reclaims....................... 21,253 23,482 13,265 1,317 Securities Lending Income.................................. 283 296 376 328 ----------- ---------- ---------- ---------- Total Assets............................................ 19,313,893 9,898,153 2,885,397 1,847,036 ----------- ---------- ---------- ---------- LIABILITIES: Payables: Upon Return of Securities Loaned........................... 859,318 539,366 377,081 390,860 Investment Securities Purchased............................ 75,770 13,093 2,549 2,179 Due to Advisor............................................. 1,485 1,536 207 121 Unrealized Loss on Foreign Currency Contracts................ -- 8 -- 3 Accrued Expenses and Other Liabilities....................... 638 484 151 87 ----------- ---------- ---------- ---------- Total Liabilities....................................... 937,211 554,487 379,988 393,250 ----------- ---------- ---------- ---------- NET ASSETS................................................... $18,376,682 $9,343,666 $2,505,409 $1,453,786 =========== ========== ========== ========== Investments at Cost.......................................... $11,646,135 $8,230,505 $2,364,260 $1,442,209 =========== ========== ========== ========== Foreign Currencies at Cost................................... $ -- $ 17,831 $ 1,505 $ 2,520 =========== ========== ========== ========== ---------- * 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, 2014 (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 $48,155, $405,924, $243,562, $432,917 and $871,848 of securities on loan, respectively).............................. $1,985,145 $3,140,046 $ 846,927 $4,165,419 $4,896,693 Collateral from Securities on Loan Invested in Affiliate at Value & Cost............... 52,727 441,350 228,005 312,836 698,780 Foreign Currencies at Value................. 4,826 10,243 251 11,976 10,393 Cash........................................ 2,460 338 2,616 6,150 8,696 Receivables: Investment Securities Sold................ 82 4,135 95 7,772 4,844 Dividends, Interest and Tax Reclaims...... 5,936 1,554 779 3,360 4,367 Securities Lending Income................. 30 572 227 421 2,258 ---------- ---------- ---------- ---------- ---------- Total Assets........................... 2,051,206 3,598,238 1,078,900 4,507,934 5,626,031 ---------- ---------- ---------- ---------- ---------- LIABILITIES: Payables: Upon Return of Securities Loaned.......... 55,064 441,350 228,005 312,836 698,780 Investment Securities Purchased........... -- 4,177 1,341 8,960 4,576 Due to Advisor............................ 164 262 74 346 826 Unrealized Loss on Foreign Currency Contracts.................................. -- -- 9 1 5 Accrued Expenses and Other Liabilities...... 80 172 42 340 406 ---------- ---------- ---------- ---------- ---------- Total Liabilities...................... 55,308 445,961 229,471 322,483 704,593 ---------- ---------- ---------- ---------- ---------- NET ASSETS.................................. $1,995,898 $3,152,277 $ 849,429 $4,185,451 $4,921,438 ========== ========== ========== ========== ========== Investments at Cost......................... $1,480,597 $2,617,830 $ 986,054 $2,941,363 $4,413,605 ========== ========== ========== ========== ========== Foreign Currencies at Cost.................. $ 4,863 $ 10,332 $ 251 $ 12,030 $ 10,444 ========== ========== ========== ========== ========== ---------- * 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, 2014 (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 $0, $24,564, $4,408 and $1,164, respectively)......................... $ 334,109 $ 429,413 $ 39,733 $ 52,945 Interest.................................................. 25 1 -- -- Income from Securities Lending............................ 3,070 10,716 3,412 3,989 ---------- --------- -------- --------- Total Investment Income................................ 337,204 440,130 43,145 56,934 ---------- --------- -------- --------- Expenses Investment Advisory Services Fees......................... 16,749 18,658 2,353 1,392 Accounting & Transfer Agent Fees.......................... 840 479 123 81 Custodian Fees............................................ 177 807 445 313 Shareholders' Reports..................................... 24 14 4 2 Directors'/Trustees' Fees & Expenses...................... 118 66 17 10 Professional Fees......................................... 320 255 56 33 Other..................................................... 71 82 23 14 ---------- --------- -------- --------- Total Expenses......................................... 18,299 20,361 3,021 1,845 ---------- --------- -------- --------- Fees Paid Indirectly...................................... -- (12) (4) (5) ---------- --------- -------- --------- Net Expenses.............................................. 18,299 20,349 3,017 1,840 ---------- --------- -------- --------- Net Investment Income (Loss).............................. 318,905 419,781 40,128 55,094 ---------- --------- -------- --------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold.............................. 755,725 173,096 97,004 882 Foreign Currency Transactions........................... -- (1,763) (567) (18) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.............. 1,319,300 (672,491) (82,784) (101,865) Translation of Foreign Currency Denominated Amounts..... -- (1,379) (535) (11) ---------- --------- -------- --------- Net Realized and Unrealized Gain (Loss)................... 2,075,025 (502,537) 13,118 (101,012) ---------- --------- -------- --------- Net Increase (Decrease) in Net Assets Resulting from Operations................................................. $2,393,930 $ (82,756) $ 53,246 $ (45,918) ========== ========= ======== ========= See accompanying Notes to Financial Statements. 277 THE DFA INVESTMENT TRUST COMPANY STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2014 (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 $73, $11,265, $3,135, $13,268 and $11,147, respectively)........................................ $ 64,648 $ 75,169 $ 18,660 $100,897 $102,507 Interest.............................................. -- 21 -- 5 5 Income from Securities Lending........................ 297 10,965 3,089 4,838 20,018 --------- --------- -------- -------- -------- Total Investment Income............................ 64,945 86,155 21,749 105,740 122,530 --------- --------- -------- -------- -------- Expenses Investment Advisory Services Fees..................... 2,100 3,415 857 3,968 8,929 Accounting & Transfer Agent Fees...................... 110 182 44 210 235 Custodian Fees........................................ 105 563 75 1,577 2,347 Shareholders' Reports................................. 3 5 1 6 7 Directors'/Trustees' Fees & Expenses.................. 15 24 6 28 31 Professional Fees..................................... 51 110 19 146 219 Other................................................. 18 31 6 37 46 --------- --------- -------- -------- -------- Total Expenses..................................... 2,402 4,330 1,008 5,972 11,814 --------- --------- -------- -------- -------- Fees Paid Indirectly.................................. (1) (2) (4) (12) (12) --------- --------- -------- -------- -------- Net Expenses.......................................... 2,401 4,328 1,004 5,960 11,802 --------- --------- -------- -------- -------- Net Investment Income (Loss).......................... 62,544 81,827 20,745 99,780 110,728 --------- --------- -------- -------- -------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold*......................... 111,297 116,406 (2,865) (24,811) 101,054 Futures............................................. -- (1,000) -- -- -- Foreign Currency Transactions....................... (238) (321) 86 (653) (980) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.......... (148,584) (269,561) (64,673) 12,344 20,955 Translation of Foreign Currency Denominated Amounts............................................ (41) (151) 5 (12) (139) --------- --------- -------- -------- -------- Net Realized and Unrealized Gain (Loss)............... (37,566) (154,627) (67,447) (13,132) 120,890 --------- --------- -------- -------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations........................................ $ 24,978 $ (72,800) $(46,702) $ 86,648 $231,618 ========= ========= ======== ======== ======== ---------- * Net of foreign capital gain taxes withheld of $0, $0, $0, $0 and $1,375, 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, 2014 2013 2014 2013 2014 2013 ----------- ----------- ---------- ----------- ---------- ---------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)........... $ 318,905 $ 250,494 $ 419,781 $ 252,489 $ 40,128 $ 37,996 Net Realized Gain (Loss) on: Investment Securities Sold*.......... 755,725 1,042,669 173,096 394,216 97,004 94,606 Futures.............................. -- -- -- (1,587) -- -- Foreign Currency Transactions........ -- -- (1,763) (2,158) (567) (2,405) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency............................ 1,319,300 2,531,751 (672,491) 1,329,657 (82,784) 403,911 Translation of Foreign Currency Denominated Amounts................. -- -- (1,379) 544 (535) 393 ----------- ----------- ---------- ----------- ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations......................... 2,393,930 3,824,914 (82,756) 1,973,161 53,246 534,501 ----------- ----------- ---------- ----------- ---------- ---------- Transactions in Interest: Contributions.......................... 1,721,914 1,639,135 1,022,273 1,055,913 296,221 268,246 Withdrawals............................ (578,150) (1,214,213) (387,981) (1,475,193) (125,682) (207,854) ----------- ----------- ---------- ----------- ---------- ---------- Net Increase (Decrease) from Transactions in Interest........... 1,143,764 424,922 634,292 (419,280) 170,539 60,392 ----------- ----------- ---------- ----------- ---------- ---------- Total Increase (Decrease) in Net Assets......................... 3,537,694 4,249,836 551,536 1,553,881 223,785 594,893 Net Assets Beginning of Year...................... 14,838,988 10,589,152 8,792,130 7,238,249 2,281,624 1,686,731 ----------- ----------- ---------- ----------- ---------- ---------- End of Year............................ $18,376,682 $14,838,988 $9,343,666 $ 8,792,130 $2,505,409 $2,281,624 =========== =========== ========== =========== ========== ========== ---------- * Net of foreign capital gain taxes withheld of $0, $0, $0, $3, $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, 2014 2013 2014 2013 2014 2013 ---------- ---------- ---------- ---------- ---------- ---------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)............ $ 55,094 $ 51,800 $ 62,544 $ 55,266 $ 81,827 $ 70,319 Net Realized Gain (Loss) on: Investment Securities Sold*........... 882 2,045 111,297 110,830 116,406 61,594 Futures............................... -- -- -- -- (1,000) -- Foreign Currency Transactions......... (18) 32 (238) 8 (321) (97) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency............................. (101,865) 64,761 (148,584) 377,497 (269,561) 843,629 Translation of Foreign Currency Denominated Amounts.................. (11) (13) (41) (22) (151) 123 ---------- ---------- ---------- ---------- ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations.......................... (45,918) 118,625 24,978 543,579 (72,800) 975,568 ---------- ---------- ---------- ---------- ---------- ---------- Transactions in Interest: Contributions........................... 315,024 243,954 17,172 20,921 106,051 97,213 Withdrawals............................. (80,818) (100,941) (34,539) (41,051) (98,740) (100,194) ---------- ---------- ---------- ---------- ---------- ---------- Net Increase (Decrease) from Transactions in Interest............ 234,206 143,013 (17,367) (20,130) 7,311 (2,981) ---------- ---------- ---------- ---------- ---------- ---------- Total Increase (Decrease) in Net Assets.............................. 188,288 261,638 7,611 523,449 (65,489) 972,587 Net Assets Beginning of Year....................... 1,265,498 1,003,860 1,988,287 1,464,838 3,217,766 2,245,179 ---------- ---------- ---------- ---------- ---------- ---------- End of Year............................. $1,453,786 $1,265,498 $1,995,898 $1,988,287 $3,152,277 $3,217,766 ========== ========== ========== ========== ========== ========== ---------- * Net of foreign capital gain taxes withheld of $0, $0, $0, $14, $0 and $14, 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, 2014 2013 2014 2013 2014 2013 -------- -------- ---------- ---------- ---------- ---------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)................. $ 20,745 $ 20,407 $ 99,780 $ 77,332 $ 110,728 $ 87,786 Net Realized Gain (Loss) on: Investment Securities Sold*................ (2,865) 5,104 (24,811) 24,456 101,054 69,227 Futures.................................... -- -- -- -- -- 463 Foreign Currency Transactions.............. 86 (36) (653) (130) (980) (1,240) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.................................. (64,673) 14,601 12,344 145,893 20,955 144,458 Translation of Foreign Currency Denominated Amounts....................... 5 (11) (12) (8) (139) (41) -------- -------- ---------- ---------- ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations................ (46,702) 40,065 86,648 247,543 231,618 300,653 -------- -------- ---------- ---------- ---------- ---------- Transactions in Interest: Contributions................................ 159,436 42,578 527,157 937,021 773,201 1,276,889 Withdrawals.................................. (4,509) (30,525) (194,514) (331,711) (174,904) (439,369) -------- -------- ---------- ---------- ---------- ---------- Net Increase (Decrease) from Transactions in Interest................. 154,927 12,053 332,643 605,310 598,297 837,520 -------- -------- ---------- ---------- ---------- ---------- Total Increase (Decrease) in Net Assets................................... 108,225 52,118 419,291 852,853 829,915 1,138,173 Net Assets Beginning of Year............................ 741,204 689,086 3,766,160 2,913,307 4,091,523 2,953,350 -------- -------- ---------- ---------- ---------- ---------- End of Year.................................. $849,429 $741,204 $4,185,451 $3,766,160 $4,921,438 $4,091,523 ======== ======== ========== ========== ========== ========== ---------- * Net of foreign capital gain taxes withheld of $0, $0, $0, $0, $1,375 and $1, 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, 2014 2013 2012 2011 2010 -------------------------------------------------------------------------------------------------------------------- Total Return......................................... 15.67% 35.68% 18.31% 5.69% 19.96% -------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).................. $18,376,682 $14,838,988 $10,589,152 $9,335,107 $8,816,400 Ratio of Expenses to Average Net Assets.............. 0.11% 0.11% 0.12% 0.12% 0.12% Ratio of Net Investment Income to Average Net Assets. 1.90% 1.98% 2.15% 1.79% 2.02% Portfolio Turnover Rate.............................. 15% 15% 10% 14% 28% -------------------------------------------------------------------------------------------------------------------- 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, 2014 2013 2012 2011 2010 --------------------------------------------------------------------------------------------------------------------------- Total Return................................................. (0.72)% 28.18% 3.17% (8.04)% 11.13% --------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $9,343,666 $8,792,130 $7,238,249 $6,955,907 $6,919,633 Ratio of Expenses to Average Net Assets...................... 0.22% 0.22% 0.24% 0.23% 0.24% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)................................................. 0.22% 0.22% 0.24% 0.23% 0.24% Ratio of Net Investment Income to Average Net Assets......... 4.50% 3.20% 3.75% 3.47% 2.55% Portfolio Turnover Rate...................................... 17% 15% 14% 9% 20% --------------------------------------------------------------------------------------------------------------------------- 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, 2014 2013 2012 2011 2010 ------------------------------------------------------------------------------------------------------------------------- Total Return................................................. 2.46% 30.62% 0.54% 10.07% 0.72% ------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $2,505,409 $2,281,624 $1,686,731 $1,502,815 $1,211,600 Ratio of Expenses to Average Net Assets...................... 0.13% 0.14% 0.15% 0.14% 0.14% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)................................................. 0.13% 0.14% 0.15% 0.14% 0.14% Ratio of Net Investment Income to Average Net Assets......... 1.71% 1.87% 2.17% 2.07% 1.95% Portfolio Turnover Rate...................................... 9% 16% 7% 5% 10% ------------------------------------------------------------------------------------------------------------------------- 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, 2014 2013 2012 2011 2010 ----------------------------------------------------------------------------------------------------------------------- Total Return................................................. (3.46)% 10.97% 7.48% (5.15)% 28.91% ----------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $1,453,786 $1,265,498 $1,003,860 $906,734 $935,138 Ratio of Expenses to Average Net Assets...................... 0.13% 0.15% 0.16% 0.16% 0.17% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)................................................. 0.13% 0.15% 0.16% 0.16% 0.17% Ratio of Net Investment Income to Average Net Assets......... 3.96% 4.64% 4.26% 3.78% 3.64% Portfolio Turnover Rate...................................... 7% 9% 18% 17% 18% ----------------------------------------------------------------------------------------------------------------------- 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, 2014 2013 2012 2011 2010 ------------------------------------------------------------------------------------------------------------------------- Total Return................................................. 1.22% 37.42% 23.41% 0.20% 25.94% ------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $1,995,898 $1,988,287 $1,464,838 $1,133,845 $1,036,694 Ratio of Expenses to Average Net Assets...................... 0.11% 0.12% 0.13% 0.13% 0.13% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)................................................. 0.11% 0.12% 0.13% 0.13% 0.13% Ratio of Net Investment Income to Average Net Assets......... 2.98% 3.29% 3.37% 3.76% 2.86% Portfolio Turnover Rate...................................... 8% 17% 6% 7% 15% ------------------------------------------------------------------------------------------------------------------------- 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, 2014 2013 2012 2011 2010 --------------------------------------------------------------------------------------------------------------------------- Total Return................................................. (2.25)% 43.67% 2.29% (10.75)% 15.37% --------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $3,152,277 $3,217,766 $2,245,179 $2,001,763 $2,072,484 Ratio of Expenses to Average Net Assets...................... 0.13% 0.14% 0.16% 0.15% 0.15% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)................................................. 0.13% 0.14% 0.16% 0.15% 0.15% Ratio of Net Investment Income to Average Net Assets......... 2.40% 2.67% 3.15% 2.72% 2.24% Portfolio Turnover Rate...................................... 13% 13% 9% 10% 12% --------------------------------------------------------------------------------------------------------------------------- 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, 2014 2013 2012 2011 2010 ----------------------------------------------------------------------------------------------------------------------------- Total Return............................................................. (3.83)% 5.71% (2.51)% 0.27% 43.17% ----------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)...................................... $849,429 $741,204 $689,086 $736,262 $663,722 Ratio of Expenses to Average Net Assets.................................. 0.12% 0.13% 0.15% 0.14% 0.15% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly). 0.12% 0.13% 0.15% 0.14% 0.15% Ratio of Net Investment Income to Average Net Assets..................... 2.42% 2.99% 2.29% 1.72% 1.05% Portfolio Turnover Rate.................................................. 5% 14% 22% 24% 10% ----------------------------------------------------------------------------------------------------------------------------- The Emerging Markets Series ----------------------------------------------------------- Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2012 2011 2010 -------------------------------------------------------------------------------------------------------------------------- Total Return................................................. 1.74% 6.99% 4.55% (6.44)% 27.04% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $4,185,451 $3,766,160 $2,913,307 $2,439,981 $2,529,493 Ratio of Expenses to Average Net Assets...................... 0.15% 0.16% 0.20% 0.20% 0.19% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)................................................. 0.15% 0.16% 0.20% 0.20% 0.19% Ratio of Net Investment Income to Average Net Assets......... 2.51% 2.38% 2.55% 2.48% 2.18% Portfolio Turnover Rate...................................... 5% 4% 5% 16% 12% -------------------------------------------------------------------------------------------------------------------------- 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, 2014 2013 2012 2011 2010 -------------------------------------------------------------------------------------------------------------------------- Total Return................................................. 5.60% 9.41% 7.19% (12.94)% 41.96% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $4,921,438 $4,091,523 $2,953,350 $1,874,926 $1,881,356 Ratio of Expenses to Average Net Assets...................... 0.26% 0.29% 0.36% 0.33% 0.32% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)................................................. 0.26% 0.29% 0.36% 0.33% 0.32% Ratio of Net Investment Income to Average Net Assets......... 2.48% 2.37% 2.48% 2.32% 2.16% Portfolio Turnover Rate...................................... 9% 11% 13% 18% 15% -------------------------------------------------------------------------------------------------------------------------- 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 ask prices which approximates 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 287 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, 2:00 a.m. ET), which is fourteen hours before the close of the NYSE (normally, 4:00 p.m. ET) 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. For the year ended October 31, 2014, there were no significant transfers between Level 1 and Level 2 and no significant Level 3 investments held by the Series. 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 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, 288 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, 2014, 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, 2014, 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, 2014, expenses reduced were as follows (amounts in thousands): Fees Paid Indirectly ---------- The DFA International Value Series...... $12 The Japanese Small Company Series....... 4 The Asia Pacific Small Company Series... 5 The United Kingdom Small Company Series. 1 The Continental Small Company Series.... 2 The Canadian Small Company Series....... 4 The Emerging Markets Series............. 12 The Emerging Markets Small Cap Series... 12 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, 2014, the total related amounts paid by the Trust to the CCO were $83 (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, 2014, 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......... $399 The DFA International Value Series...... 284 The Japanese Small Company Series....... 64 The Asia Pacific Small Company Series... 33 The United Kingdom Small Company Series. 43 The Continental Small Company Series.... 79 The Canadian Small Company Series....... 20 The Emerging Markets Series............. 104 The Emerging Markets Small Cap Series... 77 290 E. Purchases and Sales of Securities: For the year ended October 31, 2014, 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......... $3,909,998 $2,450,419 The DFA International Value Series...... 2,543,963 1,602,168 The Japanese Small Company Series....... 428,650 219,413 The Asia Pacific Small Company Series... 393,635 91,705 The United Kingdom Small Company Series. 243,468 177,009 The Continental Small Company Series.... 518,636 430,628 The Canadian Small Company Series....... 223,575 38,347 The Emerging Markets Series............. 637,475 196,321 The Emerging Markets Small Cap Series... 1,109,150 389,098 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, 2014, 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, as follows (amounts in thousands): Net Unrealized Federal Tax Unrealized Unrealized Appreciation Cost Appreciation Depreciation (Depreciation) ----------- ------------ ------------ -------------- The U.S. Large Cap Value Series......... $12,592,751 $6,828,954 $(163,400) $6,665,554 The DFA International Value Series...... 8,784,721 1,642,679 (600,496) 1,042,183 The Japanese Small Company Series....... 2,771,115 381,781 (286,920) 94,861 The Asia Pacific Small Company Series... 1,866,856 288,322 (316,853) (28,531) The United Kingdom Small Company Series. 1,553,580 625,581 (141,289) 484,292 The Continental Small Company Series.... 3,065,469 949,996 (434,069) 515,927 The Canadian Small Company Series....... 1,216,657 137,372 (279,097) (141,725) The Emerging Markets Series............. 3,268,179 1,476,765 (266,689) 1,210,076 The Emerging Markets Small Cap Series... 5,156,701 1,119,729 (680,957) 438,772 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 remain subject to examination by the Internal Revenue Service. 291 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. 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. 2. 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 location and value of derivative instrument holdings on the Series' Statements of Operations categorized by primary risk exposure for the year ended October 31, 2014 (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 Total Contracts --------- ------------- The Continental Small Company Series*. $(1,000) $(1,000) * As of October 31, 2014, there were no futures contracts outstanding. During the year ended October 31, 2014, the Series had limited activity in futures contracts. H. 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 292 credit. The agreement for the discretionary line of credit may be terminated by either party at any time. The agreement for the line of credit expires on March 2, 2015. The Trust, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit 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 line of credit agreement expires on January 9, 2015. For the year ended October 31, 2014, 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 Loan Days Expense Borrowed During Interest Rate Balance Outstanding* Incurred The Period ------------- ------------ ------------ -------- --------------- The U.S. Large Cap Value Series....... 0.85% $11,241 11 $ 3 $32,996 The DFA International Value Series.... 0.83% 8,088 9 2 16,208 The Japanese Small Company Series..... 0.83% 5,915 9 1 9,696 The Asia Pacific Small Company Series. 0.83% 1,461 9 -- 3,398 The United Kingdom Small Company Series.............................. 0.83% 407 11 -- 798 The Continental Small Company Series.. 0.83% 447 31 -- 1,730 The Emerging Markets Series........... 0.84% 3,432 17 1 10,644 The Emerging Markets Small Cap Series. 0.83% 4,374 27 3 9,078 * Number of Days Outstanding represents the total of single or consecutive days during the year ended October 31, 2014, 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, 2014. I. Securities Lending: As of October 31, 2014, 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 Uninvested Value Cash Collateral -------- --------------- The U.S. Large Cap Value Series......... $ 27,105 -- The DFA International Value Series...... 7,009 -- The Asia Pacific Small Company Series... 3,288 -- The United Kingdom Small Company Series. -- $2,337 The Canadian Small Company Series....... 29,346 -- The Emerging Markets Series............. 149,153 -- The Emerging Markets Small Cap Series... 273,571 -- 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 293 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. In the event of the bankruptcy of the borrower, a Series could experience delay in recovering the loaned securities or only recover cash or a security of equivalent value. 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. 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, described below, 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. Oral argument on the appeal was held on November 5, 2014, and the parties await the Second Circuit's ruling. The Committee Action remains pending, and a motion to dismiss on behalf of all shareholder defendants in the Committee Action was filed on May 23, 2014. The motion to dismiss is fully-briefed, and the parties await the scheduling of oral argument on the motion. The Committee Action is stayed pending the disposition of the motion to dismiss. 294 Litigation counsel to The U.S. Large Cap Value Series in the Lawsuits has advised management that it 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 quantify the cost of the Lawsuits that could potentially be 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. 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. 295 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Trustees of The DFA Investment Trust Company and Shareholders of the Series, as defined: 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, 2014, 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, 2014 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 19, 2014 296 DIMENSIONAL EMERGING MARKETS VALUE FUND PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- DIMENSIONAL EMERGING MARKETS VALUE FUND VS. MSCI EMERGING MARKETS INDEX (NET DIVIDENDS) October 31, 2004-October 31, 2014 [CHART] Dimensional Emerging MSCI Emerging Markets Markets Value Fund Index (net div.) -------------------- -------------------- 10/31/2004 $10,000 $10,000 11/30/2004 11,081 10,926 12/31/2004 11,800 11,450 1/31/2005 11,998 11,480 2/28/2005 13,093 12,481 3/31/2005 12,142 11,656 4/30/2005 11,711 11,343 5/31/2005 11,889 11,738 6/30/2005 12,285 12,137 7/31/2005 13,177 12,985 8/31/2005 13,395 13,097 9/30/2005 14,473 14,316 10/31/2005 13,571 13,380 11/30/2005 14,578 14,487 12/31/2005 15,498 15,343 1/31/2006 16,986 17,057 2/28/2006 17,055 17,037 3/31/2006 17,639 17,187 4/30/2006 19,180 18,411 5/31/2006 17,111 16,482 6/30/2006 16,959 16,442 7/31/2006 17,368 16,677 8/31/2006 17,684 17,102 9/30/2006 18,050 17,244 10/31/2006 19,310 18,063 11/30/2006 20,727 19,406 12/31/2006 21,461 20,280 1/31/2007 21,799 20,061 2/28/2007 21,929 19,942 3/31/2007 23,078 20,737 4/30/2007 24,925 21,697 5/31/2007 26,828 22,771 6/30/2007 27,598 23,839 7/31/2007 28,915 25,096 8/31/2007 27,992 24,563 9/30/2007 30,519 27,276 10/31/2007 33,879 30,317 11/30/2007 31,421 28,168 12/31/2007 31,381 28,267 1/31/2008 28,270 24,740 2/29/2008 29,407 26,566 3/31/2008 28,424 25,160 4/30/2008 30,625 27,202 5/31/2008 30,900 27,706 6/30/2008 27,315 24,943 7/31/2008 26,786 24,002 8/31/2008 24,505 22,085 9/30/2008 20,280 18,220 10/31/2008 13,988 13,234 11/30/2008 12,932 12,237 12/31/2008 14,528 13,192 1/31/2009 13,223 12,340 2/28/2009 12,099 11,644 3/31/2009 14,199 13,317 4/30/2009 16,993 15,533 5/31/2009 20,827 18,187 6/30/2009 20,574 17,942 7/31/2009 23,343 19,960 8/31/2009 23,527 19,888 9/30/2009 25,706 21,694 10/31/2009 25,102 21,720 11/30/2009 26,712 22,654 12/31/2009 28,047 23,548 1/31/2010 26,459 22,235 2/28/2010 26,673 22,313 3/31/2010 29,025 24,114 4/30/2010 29,223 24,407 5/31/2010 26,173 22,260 6/30/2010 26,338 22,096 7/31/2010 28,789 23,936 8/31/2010 28,272 23,471 9/30/2010 31,678 26,080 10/31/2010 32,772 26,837 11/30/2010 31,722 26,129 12/31/2010 34,371 27,993 1/31/2011 33,299 27,234 2/28/2011 32,761 26,980 3/31/2011 34,651 28,566 4/30/2011 35,898 29,452 5/31/2011 34,541 28,680 6/30/2011 33,838 28,238 7/31/2011 33,568 28,113 8/31/2011 30,173 25,601 9/30/2011 24,767 21,868 10/31/2011 28,030 24,765 11/30/2011 26,618 23,114 12/31/2011 25,673 22,836 1/31/2012 29,245 25,426 2/29/2012 31,030 26,949 3/31/2012 29,706 26,049 4/30/2012 28,750 25,738 5/31/2012 25,575 22,852 6/30/2012 26,739 23,734 7/31/2012 26,580 24,197 8/31/2012 26,959 24,116 9/30/2012 28,701 25,571 10/31/2012 28,338 25,416 11/30/2012 28,662 25,739 12/31/2012 30,761 26,997 1/31/2013 31,266 27,369 2/28/2013 30,755 27,026 3/31/2013 30,503 26,560 4/30/2013 30,777 26,760 5/31/2013 29,909 26,074 6/30/2013 27,399 24,414 7/31/2013 27,943 24,669 8/31/2013 27,360 24,245 9/30/2013 29,387 25,822 10/31/2013 30,728 27,076 11/30/2013 30,003 26,681 12/31/2013 29,712 26,295 1/31/2014 27,646 24,587 2/28/2014 28,267 25,402 3/31/2014 29,536 26,182 4/30/2014 29,739 26,269 5/31/2014 30,959 27,186 6/30/2014 31,777 27,908 7/31/2014 32,387 28,448 8/31/2014 33,118 29,089 9/30/2014 30,420 26,933 10/31/2014 30,393 27,250 Past performance is not predictive of future performance. The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. ------------------------------------------------------ MSCI data copyright MSCI 2014, all -1.09% 3.90% 11.76% rights reserved. -------------------------------------------------------------------------------- 297 DIMENSIONAL EMERGING MARKETS VALUE FUND MANAGEMENT'S DISCUSSION AND ANALYSIS (Unaudited) International Equity Market Review 12 Months Ended October 31, 2014 Emerging markets generally had stronger performance over the period than developed markets with positive returns in each market segment except large cap value. As measured by the MSCI emerging markets indices, small cap stocks outperformed large cap stocks, and growth stocks outperformed value stocks. 12 Months Ended October 31, 2014 -------------------------------- Return in U.S. Dollars - ---------------------- MSCI Emerging Markets Index........... 0.64% MSCI Emerging Markets Small Cap Index. 3.18% MSCI Emerging Markets Value Index..... -0.63% MSCI Emerging Markets Growth Index.... 1.89% During the period, the U.S. dollar (USD) generally appreciated against most emerging markets currencies, particularly those in Eastern Europe, decreasing USD denominated returns in emerging markets. 12 Months Ended October 31, 2014 -------------------------------- Ten Largest Emerging Markets by Market Cap Local Return Return in U.S. Dollars ------------------------------------------ ------------ ---------------------- China........................ 6.44% 6.41% Korea........................ -6.24% -6.94% Taiwan....................... 13.99% 10.11% Brazil....................... -0.30% -9.65% South Africa................. 17.13% 6.09% India........................ 29.27% 29.39% Mexico....................... 10.96% 6.98% Russia....................... -4.56% -24.40% Malaysia..................... 3.85% -0.37% Indonesia.................... 17.88% 9.95% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2014, all rights reserved. Dimensional Emerging Markets Value Fund The Dimensional Emerging Markets Value Fund is designed 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, 2014, 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, 2014, total returns were -1.09% for the Fund and 0.64% for the MSCI Emerging Markets Index (net dividends). As a result of the Fund's diversified investment approach, performance was generally determined by broad trends in emerging markets rather than the behavior of a limited number of stocks. The Fund invests primarily in value stocks while the Index is neutral with regard to value stocks. Emerging markets value stocks generally underperformed during the period, which was the primary driver of the Fund's relative underperformance. 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, 2014 EXPENSE TABLES Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- Dimensional Emerging Markets Value Fund --------------------------------------- Actual Fund Return...................... $1,000.00 $1,022.00 0.15% $0.76 Hypothetical 5% Annual Return........... $1,000.00 $1,024.45 0.15% $0.77 ---------- * 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 29, 2014. 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....................... 6.6% Consumer Staples............................. 5.0% Energy....................................... 12.4% Financials................................... 35.8% Health Care.................................. 0.3% Industrials.................................. 11.9% Information Technology....................... 7.6% Materials.................................... 16.6% Other........................................ -- Real Estate Investment Trusts................ 0.1% Telecommunication Services................... 1.3% Utilities.................................... 2.4% ----- 100.0% 300 DIMENSIONAL EMERGING MARKETS VALUE FUND SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (89.7%) BRAZIL -- (5.4%) Banco do Brasil SA.................................. 10,290,573 $ 115,161,060 0.6% Banco Santander Brasil SA ADR....................... 17,807,476 97,584,968 0.5% BM&FBovespa SA...................................... 16,976,687 74,703,226 0.4% JBS SA.............................................. 18,033,940 80,378,469 0.4% # Petroleo Brasileiro SA ADR.......................... 18,327,471 214,431,411 1.1% # Vale SA Sponsored ADR............................... 13,734,107 138,577,140 0.7% Other Securities.................................... 361,906,896 2.0% -------------- ----- TOTAL BRAZIL............................................ 1,082,743,170 5.7% -------------- ----- CHILE -- (1.4%) Enersis SA Sponsored ADR............................ 5,733,186 90,527,007 0.5% Other Securities.................................... 202,439,738 1.1% -------------- ----- TOTAL CHILE............................................. 292,966,745 1.6% -------------- ----- CHINA -- (14.2%) Agricultural Bank of China, Ltd. Class H............ 255,464,000 118,712,368 0.6% Bank of China, Ltd. Class H......................... 763,167,331 365,290,776 1.9% Bank of Communications Co., Ltd. Class H............ 96,624,574 72,200,559 0.4% China Construction Bank Corp. Class H............... 542,030,940 404,408,696 2.2% # China Petroleum & Chemical Corp. ADR................ 1,223,161 106,390,526 0.6% China Petroleum & Chemical Corp. Class H............ 106,787,575 92,607,409 0.5% # China Unicom Hong Kong, Ltd. ADR.................... 7,285,774 109,140,894 0.6% Industrial & Commercial Bank of China, Ltd. Class H. 302,174,996 200,241,009 1.1% Other Securities.................................... 1,410,991,276 7.3% -------------- ----- TOTAL CHINA............................................. 2,879,983,513 15.2% -------------- ----- COLOMBIA -- (0.1%) Other Securities.................................... 26,308,586 0.1% -------------- ----- CZECH REPUBLIC -- (0.2%) Other Securities.................................... 41,573,273 0.2% -------------- ----- GREECE -- (0.1%) Other Securities.................................... 20,612,791 0.1% -------------- ----- HONG KONG -- (0.0%) Other Securities.................................... 209,454 0.0% -------------- ----- HUNGARY -- (0.4%) Other Securities.................................... 74,137,391 0.4% -------------- ----- INDIA -- (8.6%) ICICI Bank, Ltd. Sponsored ADR...................... 3,344,526 188,497,485 1.0% Reliance Industries, Ltd............................ 21,131,225 342,432,538 1.8% State Bank of India................................. 2,134,196 93,821,600 0.5% Other Securities.................................... 1,110,527,170 5.9% -------------- ----- TOTAL INDIA............................................. 1,735,278,793 9.2% -------------- ----- INDONESIA -- (2.6%) Other Securities.................................... 522,620,783 2.8% -------------- ----- ISRAEL -- (0.0%) Other Securities.................................... 19,227 0.0% -------------- ----- 301 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- MALAYSIA -- (4.0%) Other Securities.................................... $ 801,617,645 4.2% -------------- ----- MEXICO -- (7.0%) Alfa S.A.B. de C.V. Class A......................... 45,897,748 146,525,141 0.8% #* Cemex S.A.B. de C.V. Sponsored ADR.................. 17,909,306 220,284,464 1.2% Fomento Economico Mexicano S.A.B. de C.V. Sponsored ADR................................................ 2,578,915 248,194,779 1.3% Grupo Financiero Banorte S.A.B. de C.V.............. 23,817,280 152,635,757 0.8% Other Securities.................................... 652,631,147 3.4% -------------- ----- TOTAL MEXICO............................................ 1,420,271,288 7.5% -------------- ----- PHILIPPINES -- (1.1%) Other Securities.................................... 213,846,255 1.1% -------------- ----- POLAND -- (1.8%) PGE SA.............................................. 14,453,314 94,828,904 0.5% Other Securities.................................... 272,919,980 1.4% -------------- ----- TOTAL POLAND............................................ 367,748,884 1.9% -------------- ----- RUSSIA -- (2.4%) Gazprom OAO Sponsored ADR........................... 67,242,144 445,533,804 2.4% Other Securities.................................... 47,366,599 0.2% -------------- ----- TOTAL RUSSIA............................................ 492,900,403 2.6% -------------- ----- SOUTH AFRICA -- (7.0%) Barclays Africa Group, Ltd.......................... 6,214,975 98,223,014 0.5% # Nedbank Group, Ltd.................................. 3,800,421 82,877,562 0.4% Sanlam, Ltd......................................... 19,211,956 121,401,118 0.7% Standard Bank Group, Ltd............................ 19,894,413 250,525,816 1.3% # Steinhoff International Holdings, Ltd............... 27,917,185 142,824,599 0.8% Other Securities.................................... 710,199,670 3.7% -------------- ----- TOTAL SOUTH AFRICA...................................... 1,406,051,779 7.4% -------------- ----- SOUTH KOREA -- (13.9%) Hana Financial Group, Inc........................... 3,815,029 132,113,835 0.7% Hyundai Motor Co.................................... 604,826 95,974,737 0.5% KB Financial Group, Inc............................. 2,611,033 102,351,844 0.6% KB Financial Group, Inc. ADR........................ 3,171,116 122,722,189 0.7% # LG Electronics, Inc................................. 1,776,548 108,496,732 0.6% POSCO............................................... 644,929 186,279,391 1.0% # POSCO ADR........................................... 1,589,142 113,719,001 0.6% Samsung C&T Corp.................................... 1,386,322 93,780,439 0.5% Shinhan Financial Group Co., Ltd.................... 4,987,169 234,724,964 1.3% # Shinhan Financial Group Co., Ltd. ADR............... 1,618,408 76,178,464 0.4% SK Holdings Co., Ltd................................ 513,323 80,462,792 0.4% Other Securities.................................... 1,452,665,991 7.5% -------------- ----- TOTAL SOUTH KOREA....................................... 2,799,470,379 14.8% -------------- ----- SPAIN -- (0.1%) Other Securities.................................... 18,609,563 0.1% -------------- ----- TAIWAN -- (14.3%) First Financial Holding Co., Ltd.................... 132,059,630 81,305,836 0.4% Fubon Financial Holding Co., Ltd.................... 90,414,471 153,064,692 0.8% Mega Financial Holding Co., Ltd..................... 136,903,915 113,547,756 0.6% 302 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- TAIWAN -- (Continued) # United Microelectronics Corp......... 217,150,681 $ 96,414,681 0.5% # Yuanta Financial Holding Co., Ltd.... 143,586,770 72,328,347 0.4% Other Securities..................... 2,382,184,536 12.6% --------------- ----- TOTAL TAIWAN............................. 2,898,845,848 15.3% --------------- ----- THAILAND -- (2.8%) PTT PCL.............................. 15,934,500 180,039,791 1.0% Other Securities..................... 379,751,315 2.0% --------------- ----- TOTAL THAILAND........................... 559,791,106 3.0% --------------- ----- TURKEY -- (2.3%) Turkiye Is Bankasi................... 33,315,167 83,301,332 0.5% Other Securities..................... 386,687,608 2.0% --------------- ----- TOTAL TURKEY............................. 469,988,940 2.5% --------------- ----- TOTAL COMMON STOCKS...................... 18,125,595,816 95.7% --------------- ----- PREFERRED STOCKS -- (3.4%) BRAZIL -- (3.3%) Petroleo Brasileiro SA............... 18,238,804 112,184,242 0.6% Petroleo Brasileiro SA Sponsored ADR. 21,196,251 259,230,150 1.4% Vale SA.............................. 14,877,158 129,450,847 0.7% Other Securities..................... 161,734,299 0.8% --------------- ----- TOTAL BRAZIL............................. 662,599,538 3.5% --------------- ----- COLOMBIA -- (0.1%) Other Securities..................... 17,278,985 0.1% --------------- ----- MALAYSIA -- (0.0%) Other Securities..................... 11,301 0.0% --------------- ----- TOTAL PREFERRED STOCKS................... 679,889,824 3.6% --------------- ----- RIGHTS/WARRANTS -- (0.0%) BRAZIL -- (0.0%) Other Securities..................... 867 0.0% --------------- ----- CHINA -- (0.0%) Other Securities..................... 2,981 0.0% --------------- ----- HONG KONG -- (0.0%) Other Securities..................... 229,616 0.0% --------------- ----- INDONESIA -- (0.0%) Other Securities..................... 1,310 0.0% --------------- ----- MALAYSIA -- (0.0%) Other Securities..................... -- 0.0% --------------- ----- TAIWAN -- (0.0%) Other Securities..................... 3,306 0.0% --------------- ----- TOTAL RIGHTS/WARRANTS.................... 238,080 0.0% --------------- ----- 303 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- SECURITIES LENDING COLLATERAL -- (6.9%) (S)@ DFA Short Term Investment Fund.. 120,842,149 $ 1,398,143,668 7.4% --------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $19,905,306,971)............. $20,203,867,388 106.7% =============== ====== Summary of the Fund's investments as of October 31, 2014, 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...................... $ 592,943,637 $ 489,799,533 -- $ 1,082,743,170 Chile....................... 97,250,791 195,715,954 -- 292,966,745 China....................... 235,314,230 2,644,669,283 -- 2,879,983,513 Colombia.................... 26,308,586 -- -- 26,308,586 Czech Republic.............. -- 41,573,273 -- 41,573,273 Greece...................... 450,318 20,162,473 -- 20,612,791 Hong Kong................... -- 209,454 -- 209,454 Hungary..................... -- 74,137,391 -- 74,137,391 India....................... 232,489,675 1,502,789,118 -- 1,735,278,793 Indonesia................... 9,326,399 513,294,384 -- 522,620,783 Israel...................... -- 19,227 -- 19,227 Malaysia.................... 933,008 800,684,637 -- 801,617,645 Mexico...................... 1,419,694,498 576,790 -- 1,420,271,288 Philippines................. -- 213,846,255 -- 213,846,255 Poland...................... -- 367,748,884 -- 367,748,884 Russia...................... 410,701 492,489,702 -- 492,900,403 South Africa................ 140,329,828 1,265,721,951 -- 1,406,051,779 South Korea................. 372,923,779 2,426,546,600 -- 2,799,470,379 Spain....................... 18,609,563 -- -- 18,609,563 Taiwan...................... 47,122,723 2,851,723,125 -- 2,898,845,848 Thailand.................... 559,791,106 -- -- 559,791,106 Turkey...................... 2,907,604 467,081,336 -- 469,988,940 Preferred Stocks Brazil...................... 311,770,373 350,829,165 -- 662,599,538 Colombia.................... 17,278,985 -- -- 17,278,985 Malaysia.................... -- 11,301 -- 11,301 Rights/Warrants Brazil...................... -- 867 -- 867 China....................... -- 2,981 -- 2,981 Hong Kong................... -- 229,616 -- 229,616 Indonesia................... -- 1,310 -- 1,310 Malaysia.................... -- -- -- -- Taiwan...................... -- 3,306 -- 3,306 Securities Lending Collateral. -- 1,398,143,668 -- 1,398,143,668 -------------- --------------- -- --------------- TOTAL......................... $4,085,855,804 $16,118,011,584 -- $20,203,867,388 ============== =============== == =============== See accompanying Notes to Financial Statements. 304 DIMENSIONAL EMERGING MARKETS VALUE FUND STATEMENT OF ASSETS AND LIABILITIES OCTOBER 31, 2014 (Amounts in thousands) ASSETS: Investments at Value (including $1,749,796 of securities on loan)*....... $18,805,724 Collateral from Securities on Loan Invested in Affiliate at Value & Cost. 1,398,144 Foreign Currencies at Value.............................................. 26,688 Cash..................................................................... 88,873 Receivables: Investment Securities Sold............................................. 22,282 Dividends, Interest and Tax Reclaims................................... 12,761 Securities Lending Income.............................................. 2,296 Unrealized Gain on Foreign Currency Contracts............................ 1 ----------- Total Assets........................................................ 20,356,769 ----------- LIABILITIES: Payables: Upon Return of Securities Loaned....................................... 1,398,144 Investment Securities Purchased........................................ 27,896 Due to Advisor......................................................... 1,585 Unrealized Loss on Foreign Currency Contracts............................ 1 Accrued Expenses and Other Liabilities................................... 1,626 ----------- Total Liabilities................................................... 1,429,252 ----------- NET ASSETS............................................................... $18,927,517 =========== Investments at Cost...................................................... $18,507,163 =========== Foreign Currencies at Cost............................................... $ 26,572 =========== ---------- * 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, 2014 (Amounts in thousands) Investment Income Dividends (Net of Foreign Taxes Withheld of $70,268).......... $ 533,318 Interest...................................................... 9 Income from Securities Lending................................ 24,872 --------- Total Investment Income.................................... 558,199 --------- Expenses Investment Advisory Services Fees............................. 19,212 Accounting & Transfer Agent Fees.............................. 1,031 Custodian Fees................................................ 7,208 Shareholders' Reports......................................... 32 Directors'/Trustees' Fees & Expenses.......................... 136 Professional Fees............................................. 627 Other......................................................... 341 --------- Total Expenses............................................. 28,587 --------- Fees Paid Indirectly.......................................... (55) --------- Net Expenses.................................................. 28,532 --------- Net Investment Income (Loss).................................. 529,667 --------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold.................................. (524,001) Futures..................................................... 504 Foreign Currency Transactions............................... (4,551) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.................. (181,244) Translation of Foreign Currency Denominated Amounts......... (31) --------- Net Realized and Unrealized Gain (Loss)....................... (709,323) --------- Net Increase (Decrease) in Net Assets Resulting from Operations. $(179,656) ========= 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, 2014 2013 ----------- ----------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss).............................................. $ 529,667 $ 419,407 Net Realized Gain (Loss) on: Investment Securities Sold.............................................. (524,001) 304,248 Futures................................................................. 504 -- Foreign Currency Transactions........................................... (4,551) (2,833) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.............................. (181,244) 724,674 Translation of Foreign Currency Denominated Amounts..................... (31) 7 ----------- ----------- Net Increase (Decrease) in Net Assets Resulting from Operations...... (179,656) 1,445,503 ----------- ----------- Transactions in Interest: Contributions............................................................. 1,596,852 2,894,722 Withdrawals............................................................... (1,916,965) (1,797,261) ----------- ----------- Net Increase (Decrease) from Transactions in Interest.................. (320,113) 1,097,461 ----------- ----------- Total Increase (Decrease) in Net Assets................................ (499,769) 2,542,964 Net Assets Beginning of Year......................................................... 19,427,286 16,884,322 ----------- ----------- End of Year............................................................... $18,927,517 $19,427,286 =========== =========== 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, 2014 2013 2012 2011 2010 --------------------------------------------------------------------------------------------------------------------------- Total Return............................................ (1.09)% 8.43% 1.10% (14.47)% 30.55% --------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)..................... $18,927,517 $19,427,286 $16,884,322 $14,003,579 $11,917,955 Ratio of Expenses to Average Net Assets................. 0.15% 0.16% 0.20% 0.20% 0.19% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)....................................... 0.15% 0.16% 0.20% 0.20% 0.19% Ratio of Net Investment Income to Average Net Assets.... 2.76% 2.32% 2.43% 2.29% 1.81% Portfolio Turnover Rate................................. 12% 6% 8% 5% 15% --------------------------------------------------------------------------------------------------------------------------- + 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 Fund maintains 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 ask prices which approximates 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 309 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, 2:00 a.m. ET), which is fourteen hours before the close of the NYSE (normally, 4:00 p.m. ET) 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. For the year ended October 31, 2014, there were no significant transfers between Level 1 and Level 2 and no significant Level 3 investments held by the Fund. 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 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, 2014, 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 $441 (in thousands). 310 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, 2014, 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, 2014, 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, 2014, expenses reduced were $55 (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")) receive no compensation from the Fund. For the year ended October 31, 2014, the total related amounts paid by the Fund to the CCO were $23 (in thousands). The total related amounts paid by the Fund are included in Other Expenses on the Statement of Operations. 311 D. Purchases and Sales of Securities: For the year ended October 31, 2014, 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. $2,507,752 $2,276,542 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, 2014, 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, as follows (amounts in thousands): Net Unrealized Federal Tax Unrealized Unrealized Appreciation Cost Appreciation Depreciation (Depreciation) ----------- ------------ ------------ -------------- Dimensional Emerging Markets Value Fund. $20,078,984 $3,350,428 $(3,225,544) $124,884 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. 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 Fund may be inhibited. Derivative Financial Instruments: Summarized below are the specific types of derivative instruments used by the Funds. 2. Forward Currency Contracts: The Fund 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 Fund's currency exposure with respect to a foreign market will be based primarily on the Fund's existing exposure to a given foreign currency. Each contract is valued daily and the change in value is recorded by the Fund as an unrealized gain or loss, which is presented in the Statements of Operations as the 312 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 Fund 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. 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. Futures Contracts: The Fund 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 Funds 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 Funds as unrealized gains or losses until the contracts are closed. When the contracts are closed, the Funds 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 Funds could lose more than the initial margin requirements. The Funds 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 Fund's Statement of Operations of realized and change in unrealized gains and losses from Fund's derivative instrument holdings through the year ended October 31, 2014: Derivative Type Location of Gain (Loss) on Derivatives Recognized in Income --------------- ----------------------------------------------------------- Foreign exchange contracts Net Realized Gain (Loss) on: Foreign Currency Transactions Equity contracts Net Realized Gain (Loss) on: Futures The following is a summary of the realized and change in unrealized gains and losses from the Fund's direct investment in derivative instrument holdings categorized by primary risk exposure through the year ended October 31, 2014 (amounts in thousands): Realized Gain (Loss) on Derivatives Recognized in Income -------------------------------- Foreign Exchange Equity Total Contracts Contracts ----- --------- --------- Dimensional Emerging Markets Value Fund*. $499 $(5) $504 * As of October 31, 2014, there were no futures contracts outstanding. During the year ended October 31, 2014, the Fund had limited activity in futures contracts. G. 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 agreement for the line of credit expires on March 2, 2015. 313 The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit 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 line of credit agreement expires on January 9, 2015. For the year ended October 31, 2014, 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. 0.84% $35,523 42 $35 $143,884 * Number of Days Outstanding represents the total of single or consecutive days during the year ended October 31, 2014, 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, 2014. H. Securities Lending: As of October 31, 2014, 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 $510,952 (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 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. In the event of the bankruptcy of the borrower, the Fund could experience delay in recovering the loaned securities or only recover cash or a security of equivalent value. 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. 314 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. 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. 315 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Shareholders 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, 2014, 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, 2014 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 19, 2014 316 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 Strategy Committee (the "Strategy 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, 2014. 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, 2014. Each Board's Strategy Committee consists of both interested and disinterested Trustees/Directors. The Strategy Committee is comprised of John P. Gould, Edward P. Lazear, Myron S. Scholes and Eduardo A. Repetto. The Strategy 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 Strategy 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 Strategy Committee was formed on December 17, 2010, and there were two Strategy Committee meetings held during the fiscal year ended October 31, 2014. 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. 317 Name, Position Portfolios within the DFA Principal Occupation(s) During Past 5 with the Fund, Address and Term of Office/1/ and Fund Complex/2/ Years and Other Directorships of Public Year of Birth Length of Service Overseen Companies Held ------------------------------------------------------------------------------------------------------------------------ Disinterested Trustees/Directors ------------------------------------------------------------------------------------------------------------------------ George M. Constantinides DFAIDG-Since 1983 108 portfolios in 4 Leo Melamed Professor of Finance, Director of DFAIDG and DIG. DIG-Since 1993 investment companies University of Chicago Booth School of Trustee of DFAITC and DEM. DFAITC-Since 1992 Business. The University of Chicago DEM-Since 1993 Booth School of Business 5807 S. Woodlawn Avenue Chicago, IL 60637 1947 ------------------------------------------------------------------------------------------------------------------------ John P. Gould DFAIDG-Since 1986 108 portfolios in 4 Steven G. Rothmeier Professor and Director of DFAIDG and DIG. DIG-Since 1993 investment companies Distinguished Service Professor of Trustee of DFAITC and DEM DFAITC-Since 1992 Economics, University of Chicago Booth The University of Chicago DEM-Since 1993 School of Business (since 1965). Member Booth School of Business and Chair, Competitive Markets Advisory 5807 S. Woodlawn Avenue Council, Chicago Mercantile Exchange Chicago, IL 60637 (futures trading exchange) (since 1939 2004). Trustee, Harbor Fund (registered investment company) (29 Portfolios) (since 1994). Formerly, Member of the Board of Milwaukee Insurance Company (1997-2010). ------------------------------------------------------------------------------------------------------------------------ Roger G. Ibbotson DFAIDG-Since 1981 108 portfolios in 4 Professor in Practice of Finance, Yale Director of DFAIDG and DIG. DIG-Since 1993 investment companies School of Management (since 1984). Trustee of DFAITC and DEM. DFAITC-Since 1992 Chairman, CIO and Partner, Zebra Yale School of Management DEM-Since 1993 Capital Management, LLC (hedge fund and P.O. Box 208200 asset manager) (since 2001). Consultant New Haven, CT 06520-8200 to Morningstar Inc. (since 2006). 1943 Formerly, Director, BIRR Portfolio Analysis, Inc. (software products) (1990-2010). ------------------------------------------------------------------------------------------------------------------------ Edward P. Lazear DFAIDG-Since 2010 108 portfolios in 4 Morris Arnold Cox Senior Fellow, Hoover Director of DFAIDG and DIG. DIG-Since 2010 investment companies Institution (since 2002). Jack Steele Trustee of DFAITC and DEM. DFAITC-Since 2010 Parker Professor of Human Resources Stanford University Graduate DEM-Since 2010 Management and Economics, Graduate School of Business School of Business, Stanford University 518 Memorial Way (since 1995). Cornerstone Research Stanford, CA 94305-5015 (expert testimony and economic and 1948 financial analysis) (since 2009). Formerly, 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 DFAIDG-Since 1981 108 portfolios in 4 Chief Investment Strategist, Janus Director of DFAIDG and DIG. DIG-Since 1993 investment companies Capital Group Inc. (since 2014). Frank Trustee of DFAITC and DEM. DFAITC-Since 1992 E. Buck Professor of Finance Emeritus, c/o Dimensional Fund DEM-Since 1993 Graduate School of Business, Stanford Advisors, LP University (since 1981). Chairman, 6300 Bee Cave Road Ruapay Inc. (since 2013). Formerly, Building 1 Chairman, Platinum Grove Asset Austin, TX 78746 Management, L.P. (hedge fund) 1941 (formerly, Oak Hill Platinum Partners) (1999-2009). Formerly, Director, American Century Fund Complex (registered investment companies) (43 Portfolios) (1980-2014). ------------------------------------------------------------------------------------------------------------------------ Abbie J. Smith DFAIDG-Since 2000 108 portfolios in 4 Boris and Irene Stern Distinguished Director of DFAIDG and DIG. DIG-Since 2000 investment companies Service Professor of Accounting, Trustee of DFAITC and DEM. DFAITC-Since 2000 University of Chicago Booth School of The University of Chicago DEM-Since 2000 Business (since 1980). Director, HNI Booth School of Business Corporation (formerly known as HON 5807 S. Woodlawn Industries Inc.) (office furniture) Avenue Chicago, IL 60637 (since 2000). Director, Ryder System 1953 Inc. (transportation, logistics and supply-chain management) (since 2003). Trustee, UBS Funds (4 investment companies within the fund complex) (33 portfolios) (since 2009). Formerly, Co-Director Investment Research, Fundamental Investment Advisors (hedge fund) (2008-2011). ------------------------------------------------------------------------------------------------------------------------ 318 Name, Position Portfolios within the with the Fund, Address Term of Office/1/ and DFA Fund Complex/2/ Principal Occupation(s) During Past 5 Years and and Year of Birth Length of Service Overseen Other Directorships of Public Companies Held -------------------------------------------------------------------------------------------------------------------------------- Interested Trustees/Directors* -------------------------------------------------------------------------------------------------------------------------------- David G. Booth DFAIDG-Since 1981 108 portfolios in 4 Chairman, Director/Trustee, President, Co-Chief Chairman, Director/Trustee, DIG-Since 1992 investment companies Executive Officer and formerly, Chief Executive President and Co-Chief DFAITC-Since 1992 Officer (until 1/1/2010) of the following companies: Executive Officer DEM-Since 1993 Dimensional Holdings Inc., Dimensional Fund 6300 Bee Cave Road, Advisors LP, DFA Securities LLC, DEM, DFAIDG, Building One DIG and DFAITC (collectively, the "DFA Entities"). Austin, TX 78746 Director of Dimensional Fund Advisors Ltd. and 1946 formerly, Chief Investment Officer. Director of DFA Australia Limited and formerly, President and Chief Investment Officer. Director of Dimensional Advisors Ltd., Dimensional Funds plc and Dimensional Funds II plc. Formerly, President, Dimensional SmartNest (US) LLC (2009-2014). Formerly, Limited Partner, Oak Hill Partners (2001- 2010). Limited Partner, VSC Investors, LLC (since 2007). Trustee, University of Chicago. Trustee, University of Kansas Endowment Association. Formerly, Director, SA Funds (registered investment company). Chairman, Director and Co- Chief Executive Officer of Dimensional Fund Advisors Canada ULC. Director and President (since 2012) of Dimensional Japan Ltd. Chairman, Director, President and Co-Chief Executive Officer of Dimensional Cayman Commodity Fund I Ltd. (since 2010). -------------------------------------------------------------------------------------------------------------------------------- Eduardo A. Repetto DFAIDG-Since 2009 108 portfolios in 4 Co-Chief Executive Officer (beginning January Director/Trustee, Co-Chief DIG-Since 2009 investment companies 2010), Co-Chief Investment Officer (since June Executive Officer and Co- DFAITC-Since 2009 2014), Director/Trustee, and formerly, Chief Chief Investment Officer DEM-Since 2009 Investment Officer (March 2007 - June 2014) of the 6300 Bee Cave Road, DFA Entities. Director, Co-Chief Executive Officer Building One and Chief Investment Officer (since 2010) of Austin, TX 78746 Dimensional Cayman Commodity Fund I Ltd. 1967 Director, Co-Chief Executive Officer, President and Co-Chief Investment Officer of Dimensional Fund Advisors Canada ULC and formerly, Chief Investment Officer (until April 2014). Co-Chief Investment Officer, Vice President, and Director of DFA Australia Limited and formerly, Chief Investment Officer (until April 2014). Director of Dimensional Fund Advisors Ltd., Dimensional Funds plc, Dimensional Funds II plc and Dimensional Advisors Ltd. Formerly, Vice President of the DFA Entities and Dimensional Fund Advisors Canada ULC. Director and Chief Investment Officer (since December 2012) of Dimensional Japan Ltd. /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 DFAIDG, DIG; DFAITC and DEM. Each disinterested Trustee/Director also serves on the Independent Review Committee of the Dimensional Funds, mutual funds registered in the provinces of Canada and managed by an affiliate of Dimensional Fund Advisors LP (the "Advisor"), Dimensional Fund Advisors Canada ULC. * 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 the Advisor. 319 Officers Below is the name, year of birth, information regarding positions with the Funds and the principal occupation for each officer of the Funds. The address of each officer is 6300 Bee Cave Road, Building One, Austin, TX 78746. Each of the officers listed below holds the same office (except as otherwise noted) in the DFA Entities. Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation(s) During Past 5 Years ---------------------------------------------------------------------------------------------------------------------- Officers ---------------------------------------------------------------------------------------------------------------------- April A. Aandal Vice President Since 2008 Vice President of all the DFA Entities. 1963 ---------------------------------------------------------------------------------------------------------------------- Robyn G. Alcorta Vice President Since 2012 Vice President of all the DFA Entities. Formerly, Vice 1974 President, Business Development at Capson Physicians Insurance Company (2010-2012); Vice President at Charles Schwab (2007-2010). ---------------------------------------------------------------------------------------------------------------------- Darryl D. Avery Vice President Since 2005 Vice President of all the DFA Entities. 1966 ---------------------------------------------------------------------------------------------------------------------- Arthur H. Barlow Vice President Since 1993 Vice President of all the DFA Entities. Director and 1955 Managing Director of Dimensional Fund Advisors Ltd (since September 2013). ---------------------------------------------------------------------------------------------------------------------- Peter Bergan Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Senior Infrastructure Manager for Dimensional Fund Advisors LP (January 2011-January 2014); Partner at Stonehouse Consulting (2010). ---------------------------------------------------------------------------------------------------------------------- Lana Bergstein Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Client Service Manager for Dimensional Fund Advisors LP (February 2008-January 2014). ---------------------------------------------------------------------------------------------------------------------- Stanley W. Black Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1970 Senior Research Associate (January 2012-January 2014) and Research Associate (2006-2011) for Dimensional Fund Advisors LP ---------------------------------------------------------------------------------------------------------------------- Aaron T. Borders Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1973 Regional Director for Dimensional Fund Advisors LP (April 2008-January 2014). ---------------------------------------------------------------------------------------------------------------------- Scott A. Bosworth Vice President Since 2007 Vice President of all the DFA Entities. 1968 ---------------------------------------------------------------------------------------------------------------------- Valerie A. Brown Vice President and Since 2001 Vice President and Assistant Secretary of all the 1967 Assistant Secretary DFA Entities, DFA Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Cayman Commodity Fund I Ltd., Dimensional Fund Advisors Pte. and Dimensional Hong Kong Limited. Director, Vice President and Assistant Secretary of Dimensional Fund Advisors Canada ULC. ---------------------------------------------------------------------------------------------------------------------- David P. Butler Vice President Since 2007 Vice President of all the DFA Entities. Head of 1964 Global Financial Services for Dimensional Fund Advisors LP (since 2008). ---------------------------------------------------------------------------------------------------------------------- Douglas M. Byrkit Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1970 Regional Director for Dimensional Fund Advisors LP (December 2010-January 2012); Regional Director at Russell Investments (April 2006-December 2010). ---------------------------------------------------------------------------------------------------------------------- Hunt M. Cairns Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1973 Regional Director (January 2010-January 2014) and Senior Associate (July 2008-December 2009) for Dimensional Fund Advisors LP. ---------------------------------------------------------------------------------------------------------------------- James G. Charles Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1956 Regional Director for Dimensional Fund Advisors LP (2008-2010). ---------------------------------------------------------------------------------------------------------------------- 320 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------------- Joseph H. Chi Vice President Since 2009 Vice President of all the DFA Entities. Co-Head of 1966 Portfolio Management (since March 2012) and Senior Portfolio Manager (since January 2012) for Dimensional Fund Advisors LP. Formerly, Portfolio Manager for Dimensional Fund Advisors LP (October 2005 to January 2012). ------------------------------------------------------------------------------------------------------------------------- Pil Sun Choi Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1972 Counsel for Dimensional Fund Advisors LP (April 2012 - January 2014); Vice President and Counsel for AllianceBernstein L.P. (2006-2012). ------------------------------------------------------------------------------------------------------------------------- Stephen A. Clark Vice President Since 2004 Vice President of all the DFA Entities, DFA Australia 1972 Limited and Dimensional Fund Advisors Canada ULC. Head of Global Institutional Services for Dimensional Fund Advisors LP (since January 2014). Formerly, Head of Institutional, North America (March 2012 to December 2013) and Head of Portfolio Management (January 2006 to March 2012) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- Matt B. Cobb Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (September 2011-March 2013); Vice President at MullinTBG (2005-2011). ------------------------------------------------------------------------------------------------------------------------- Rose C. Cooke Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (August 2010-March 2014); Vice President, Sales and Business Development at AdvisorsIG (PPMG) (2009-2010); Vice President at Credit Suisse (2007- 2009). ------------------------------------------------------------------------------------------------------------------------- Ryan Cooper Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1979 Regional Director for Dimensional Fund Advisors LP (2003-March 2014). ------------------------------------------------------------------------------------------------------------------------- Jeffrey D. Cornell Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1976 Regional Director for Dimensional Fund Advisors LP (August 2002-January 2012). ------------------------------------------------------------------------------------------------------------------------- Robert P. Cornell Vice President Since 2007 Vice President of all the DFA Entities. 1949 ------------------------------------------------------------------------------------------------------------------------- George H. Crane Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1955 Senior Vice President and Managing Director at State Street Bank & Trust Company (2007-2008). ------------------------------------------------------------------------------------------------------------------------- Christopher S. Crossan Vice President and Since 2004 Vice President and Chief Compliance Officer of all 1965 Global Chief the DFA Entities, DFA Australia Limited, and Compliance Officer Dimensional Fund Advisors Ltd. Chief Compliance Officer of Dimensional Fund Advisors Canada. Formerly, Vice President and Chief Compliance Officer for Dimensional SmartNest (US) LLC (October 2010- 2014). ------------------------------------------------------------------------------------------------------------------------- James L. Davis Vice President Since 1999 Vice President of all the DFA Entities. 1956 ------------------------------------------------------------------------------------------------------------------------- Robert T. Deere Vice President Since 1994 Vice President of all the DFA Entities, DFA Australia 1957 Limited and Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------------- Johnathon K. DeKinder Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1979 Regional Director (January 2012-January 2014) and Senior Associate (August 2010-December 2011) for Dimensional Fund Advisors LP; MBA and MPA at the University of Texas at Austin (August 2007-May 2010). ------------------------------------------------------------------------------------------------------------------------- Peter F. Dillard Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1972 Research Associate (August 2008-March 2010) and Research Assistant (April 2006-August 2008) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- 321 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ----------------------------------------------------------------------------------------------------------------------- Robert W. Dintzner Vice President Since 2001 Vice President of all the DFA Entities. 1970 ----------------------------------------------------------------------------------------------------------------------- Karen M. Dolan Vice President Since 2014 Vice President of all the DFA Entities. Head of 1979 Marketing for Dimensional Fund Advisors LP (since February 2013). Formerly, Senior Manager of Research and Marketing for Dimensional Fund Advisors LP (June 2012-January 2013); Director of Mutual Fund Analysis at Morningstar (January 2008- May 2012). ----------------------------------------------------------------------------------------------------------------------- Richard A. Eustice Vice President and Since 1998 Vice President and Assistant Secretary of all the 1965 Assistant Secretary DFA Entities and DFA Australia Limited. Chief Operating Officer for Dimensional Fund Advisors Pte. Ltd. (since April 2013). Formerly, Chief Operating Officer for Dimensional Fund Advisors Ltd. (July 2008-March 2013). ----------------------------------------------------------------------------------------------------------------------- Gretchen A. Flicker Vice President Since 2004 Vice President of all the DFA Entities. 1971 ----------------------------------------------------------------------------------------------------------------------- Jed S. Fogdall Vice President Since 2008 Vice President of all the DFA Entities. Co-Head of 1974 Portfolio Management (since March 2012) and Senior Portfolio Manager (since January 2012) for Dimensional Fund Advisors LP. Formerly, Portfolio Manager for Dimensional Fund Advisors LP (September 2004-January 2012). ----------------------------------------------------------------------------------------------------------------------- Edward A. Foley Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1976 Regional Director for Dimensional Fund Advisors LP (August 2011-January 2014); Senior Vice President of First Trust Advisors L.P. (2007-July 2011). ----------------------------------------------------------------------------------------------------------------------- Jeremy P. Freeman Vice President Since 2009 Vice President of all the DFA Entities. 1970 ----------------------------------------------------------------------------------------------------------------------- Mark R. Gochnour Vice President Since 2007 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Tom M. Goodrum Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1968 Managing Director at BlackRock (2004-January 2012). ----------------------------------------------------------------------------------------------------------------------- Henry F. Gray Vice President Since 2000 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- John T. Gray Vice President Since 2007 Vice President of all the DFA Entities. 1974 ----------------------------------------------------------------------------------------------------------------------- Christian Gunther Vice President Since 2011 Vice President of all the DFA Entities. Senior Trader 1975 for Dimensional Fund Advisors LP (since 2012). Formerly, Senior Trader (2009-2012). ----------------------------------------------------------------------------------------------------------------------- Robert W. Hawkins Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Counsel for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President and Senior Counsel for State Street Global Advisors (November 2008-January 2011). ----------------------------------------------------------------------------------------------------------------------- Joel H. Hefner Vice President Since 2007 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Julie C. Henderson Vice President and Since 2005 Vice President and Fund Controller of all the DFA 1974 Fund Controller Entities, Dimensional Cayman Commodity Fund I Ltd. and Dimensional Japan Ltd. ----------------------------------------------------------------------------------------------------------------------- Kevin B. Hight Vice President Since 2005 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Christine W. Ho Vice President Since 2004 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Michael C. Horvath Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1960 Managing Director, Co-Head Global Consultant Relations at BlackRock (2004-2011). ----------------------------------------------------------------------------------------------------------------------- 322 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years --------------------------------------------------------------------------------------------------------------------------- Jeff J. Jeon Vice President Since 2004 Vice President of all the DFA Entities and 1973 Dimensional Cayman Commodity Fund I Ltd. --------------------------------------------------------------------------------------------------------------------------- Garret D. Jones Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1971 Manager of Sales and Marketing Systems (January 2011-January 2014) and Project Manager (2007- 2010) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Stephen W. Jones Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1968 Facilities Manager for Dimensional Fund Advisors LP (October 2008-January 2012). --------------------------------------------------------------------------------------------------------------------------- David M. Kavanaugh Vice President Since 2014 Vice President of all the DFA Entities. Head of 1978 Operations for Financial Advisor Services for Dimensional Fund Advisors LP (since July 2014). Formerly, Counsel of Dimensional Fund Advisors LP (August 2011-January 2014); Associate at Andrews Kurth LLP (2006-2011). --------------------------------------------------------------------------------------------------------------------------- Patrick M. Keating Vice President and Since 2003 Vice President of all the DFA Entities, Dimensional 1954 Chief Operating Officer Cayman Commodity Fund I Ltd., Dimensional Japan Ltd. and Dimensional Advisors Ltd. Chief Operating Officer of Dimensional Holdings Inc., DFA Securities LLC, Dimensional Fund Advisors LP, Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan Ltd., Dimensional Advisors Ltd. And Dimensional Fund Advisors Pte. Ltd. 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 Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1977 Regional Director for Dimensional Fund Advisors LP (October 2004-January 2013). --------------------------------------------------------------------------------------------------------------------------- Glenn E. Kemp Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1948 Regional Director for Dimensional Fund Advisors LP (April 2006-January 2012). --------------------------------------------------------------------------------------------------------------------------- David M. Kershner Vice President Since 2010 Vice President of all the DFA Entities. Portfolio 1971 Manager for Dimensional Fund Advisors LP (since June 2004). --------------------------------------------------------------------------------------------------------------------------- Kimberly L. Kiser Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1972 Creative Director for Dimensional Fund Advisors LP (September 2012-January 2014); Vice President and Global Creative Director at Morgan Stanley (2007-2012); Visiting Assistant Professor, Graduate Communications Design at Pratt Institute (2004-2012). --------------------------------------------------------------------------------------------------------------------------- Timothy R. Kohn Vice President Since 2011 Vice President of all the DFA Entities. Head of 1971 Defined Contribution Sales for Dimensional Fund Advisors LP (since August 2010). --------------------------------------------------------------------------------------------------------------------------- Joseph F. Kolerich Vice President Since 2004 Vice President of all the DFA Entities. Senior 1971 Portfolio Manager of Dimensional Fund Advisors LP (since January 2012). Formerly, Portfolio Manager for Dimensional (April 2001-January 2012). --------------------------------------------------------------------------------------------------------------------------- Mark D. Krasniewski Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1981 Senior Associate, Investment Analytics and Data (January 2012-December 2012) and Systems Developer (June 2007-December 2011) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Kahne L. Krause Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1966 Regional Director (May 2010-January 2014) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Stephen W. Kurad Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1968 Regional Director for Dimensional Fund Advisors LP (2007-2010). --------------------------------------------------------------------------------------------------------------------------- 323 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------------- Michael F. Lane Vice President Since 2004 Vice President of all the DFA Entities. Formerly, 1967 Chief Executive Officer for Dimensional SmartNest (US) LLC (July 2012-November 2014). ------------------------------------------------------------------------------------------------------------------------- Francis R. Lao Vice President Since 2011 Vice President of all the DFA Entities. Formerly, Vice 1969 President - Global Operations at Janus Capital Group (2005-2011). ------------------------------------------------------------------------------------------------------------------------- David F. LaRusso Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1978 Senior Trader (January 2010-December 2012) and Trader (2000-2009) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- Juliet H. Lee Vice President Since 2005 Vice President of all the DFA Entities. 1971 ------------------------------------------------------------------------------------------------------------------------- Marlena I. Lee Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1980 Research Associate for Dimensional Fund Advisors LP (July 2008-2010). ------------------------------------------------------------------------------------------------------------------------- John B. Lessley Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1960 Regional Director for Dimensional Fund Advisors LP (January 2008-January 2013). ------------------------------------------------------------------------------------------------------------------------- Apollo D. Lupescu Vice President Since 2009 Vice President of all the DFA Entities. 1969 ------------------------------------------------------------------------------------------------------------------------- Peter Magnusson Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1969 Regional Director for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President at Columbia Management (2004-2010). ------------------------------------------------------------------------------------------------------------------------- Kenneth M. Manell Vice President Since 2010 Vice President of all the DFA Entities and 1972 Dimensional Cayman Commodity Fund I Ltd. Formerly, Counsel for Dimensional Fund Advisors LP (September 2006-January 2010). ------------------------------------------------------------------------------------------------------------------------- Aaron M. Marcus Vice President Since 2008 Vice President of all DFA Entities and Head of 1970 Global Human Resources for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- David R. Martin Vice President, Chief Since 2007 Vice President, Chief Financial Officer and Treasurer 1956 Financial Officer and of all the DFA Entities. Director, Vice President, Treasurer Chief Financial Officer and Treasurer of Dimensional Fund Advisors Ltd., DFA Australia Limited, Dimensional Advisors Pte. Ltd., Dimensional Hong Kong Limited, Dimensional Fund Advisors Canada ULC, and Dimensional Cayman Commodity Fund I Ltd. Director of Dimensional Funds plc and Dimensional Funds II plc. Statutory Auditor of Dimensional Japan Ltd. Formerly, Chief Financial Officer, Treasurer and Vice President of Dimensional SmartNest (US) LLC (October 2010-November 2014). ------------------------------------------------------------------------------------------------------------------------- Bryan R. McClune Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1975 Regional Director of Dimensional Fund Advisors LP (January 2009-January 2014). ------------------------------------------------------------------------------------------------------------------------- Philip P. McInnis Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1984 Regional Director (January 2009-January 2014) and Senior Associate (2011) for Dimensional Fund Advisors LP; Investment Consultant (March 2010- December 2010) and Investment Analyst (December 2007-March 2010) at Towers Watson. ------------------------------------------------------------------------------------------------------------------------- Jonathan G. Nelson Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Manager, Investment Systems (2011-January 2013) and Project Manager (2007-2010) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- 324 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ----------------------------------------------------------------------------------------------------------------------------- Catherine L. Newell Vice President and Vice President since 1997 Vice President and Secretary of all the DFA Entities. 1964 Secretary and Secretary since 2000 Director, Vice President and Secretary 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 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). Director of 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). Formerly, Vice President and Secretary of Dimensional SmartNest (US) LLC (October 2010- November 2014). ----------------------------------------------------------------------------------------------------------------------------- Pamela B. Noble Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1964 Portfolio Manager for Dimensional Fund Advisors LP (2008-2010). ----------------------------------------------------------------------------------------------------------------------------- Selwyn Notelovitz Vice President and Since 2013 Vice President of all the DFA Entities. Deputy Chief 1961 Deputy Chief Compliance Officer of Dimensional Fund Advisors Compliance Officer LP (since December 2012). Formerly, Chief Compliance Officer of Wellington Management Company, LLP (2004-2011). ----------------------------------------------------------------------------------------------------------------------------- Carolyn L. O Vice President Since 2010 Vice President of all the DFA Entities and 1974 Dimensional Cayman Commodity Fund I Ltd. Deputy General Counsel, Funds (since 2011). Formerly, Counsel for Dimensional Fund Advisors LP (2007- 2010). ----------------------------------------------------------------------------------------------------------------------------- Gerard K. O'Reilly Vice President and Co- Vice President since 2007 Vice President and Co-Chief Investment Officer of all 1976 Chief Investment and Co-Chief Investment the DFA Entities and Dimensional Fund Advisors Officer Officer since 2014 Canada ULC. Director of Dimensional Funds plc and Dimensional Fund II plc. ----------------------------------------------------------------------------------------------------------------------------- Daniel C. Ong Vice President Since 2009 Vice President of all the DFA Entities. Portfolio 1973 Manager for Dimensional Fund Advisors LP (since July 2005). ----------------------------------------------------------------------------------------------------------------------------- Kyle K. Ozaki Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1978 Senior Compliance Officer (January 2008-January 2010) and Compliance Officer (February 2006- December 2007) for Dimensional Fund Advisors LP. ----------------------------------------------------------------------------------------------------------------------------- Matthew A. Pawlak Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1977 Regional Director for Dimensional Fund Advisors LP (2012-January 2013); Senior Consultant (June 2011- December 2011) and Senior Investment Analyst and Consultant (July 2008-June 2011) at Hewitt EnnisKnupp. ----------------------------------------------------------------------------------------------------------------------------- David A. Plecha Vice President Since 1993 Vice President of all the DFA Entities, DFA Australia 1961 Limited, Dimensional Fund Advisors Ltd. and Dimensional Fund Advisors Canada ULC. ----------------------------------------------------------------------------------------------------------------------------- Allen Pu Vice President Since 2011 Vice President of all the DFA Entities. Portfolio 1970 Manager for Dimensional Fund Advisors LP (since 2006). ----------------------------------------------------------------------------------------------------------------------------- Theodore W. Randall Vice President Since 2008 Vice President of all the DFA Entities. Formerly, 1973 Research Associate for Dimensional Fund Advisors LP (2006 to 2008). ----------------------------------------------------------------------------------------------------------------------------- David J. Rapozo Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1967 Regional Director for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President at BlackRock (2009-2010). ----------------------------------------------------------------------------------------------------------------------------- Mark A. Regier Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1969 Planning and Analysis Manager for Dimensional Fund Advisors LP (July 2007-January 2014). ----------------------------------------------------------------------------------------------------------------------------- 325 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------ Savina B. Rizova Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1981 Research Associate (June 2011-January 2012) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ L. Jacobo Rodriguez Vice President Since 2005 Vice President of all the DFA Entities. 1971 ------------------------------------------------------------------------------------------------------------------ Oliver J. Rowe Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1960 Senior Manager, Human Resources for Dimensional Fund Advisors LP (January 2012-January 2014); Director of Human Resources at Spansion, Inc. (March 2009-December 2011). ------------------------------------------------------------------------------------------------------------------ Julie A. Saft Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1959 Client Systems Manager for Dimensional Fund Advisors LP (July 2008-January 2010); Senior Manager at Vanguard (November 1997-July 2008). ------------------------------------------------------------------------------------------------------------------ Walid A. Shinnawi Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1961 Regional Director for Dimensional Fund Advisors LP (March 2006-January 2010). ------------------------------------------------------------------------------------------------------------------ Bruce A. Simmons Vice President Since 2009 Vice President of all the DFA Entities. Formerly, 1965 Investment Operations Manager for Dimensional Fund Advisors LP (May 2007-January 2009). ------------------------------------------------------------------------------------------------------------------ Ted R. Simpson Vice President Since 2007 Vice President of all the DFA Entities. 1968 ------------------------------------------------------------------------------------------------------------------ Bhanu P. Singh Vice President Since 2014 Vice President of all the DFA Entities. Portfolio 1981 Manager for Dimensional Fund Advisors LP (since January 2012). Formerly, Investment Associate for Dimensional Fund Advisors LP (August 2010- December 2011). ------------------------------------------------------------------------------------------------------------------ Bryce D. Skaff Vice President Since 2007 Vice President of all the DFA Entities. 1975 ------------------------------------------------------------------------------------------------------------------ Lukas J. Smart Vice President Since 2014 Vice President of all the DFA Entities. Portfolio 1977 Manager of Dimensional Fund Advisors LP (since January 2010). ------------------------------------------------------------------------------------------------------------------ Andrew D. Smith Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1968 Project Manager for Dimensional Fund Advisors LP (2007-2010). ------------------------------------------------------------------------------------------------------------------ Grady M. Smith Vice President Since 2004 Vice President of all the DFA Entities and 1956 Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------ Carl G. Snyder Vice President Since 2000 Vice President of all the DFA Entities. 1963 ------------------------------------------------------------------------------------------------------------------ Lawrence R. Spieth Vice President Since 2004 Vice President of all the DFA Entities. 1947 ------------------------------------------------------------------------------------------------------------------ Richard H. Tatlow V Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (April 2010-January 2013). ------------------------------------------------------------------------------------------------------------------ Blake T. Tatsuta Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1973 Manager, Investment Analytics and Data (2012- January 2013) and Research Assistant (2002-2011) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ Erik T. Totten Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1980 Regional Director (2010-January 2013) and Senior Associate (2007-2009) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ John H. Totten Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1978 Regional Director for Dimensional Fund Advisors LP (January 2008-January 2012). ------------------------------------------------------------------------------------------------------------------ Robert C. Trotter Vice President Since 2009 Vice President of all the DFA Entities. 1958 ------------------------------------------------------------------------------------------------------------------ Karen E. Umland Vice President Since 1997 Vice President of all the DFA Entities, DFA Australia 1966 Limited, Dimensional Fund Advisors Ltd., and Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------ 326 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ---------------------------------------------------------------------------------------------------------------- Benjamin C. Walker Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1979 Regional Director for Dimensional Fund Advisors LP (September 2008-January 2014). ---------------------------------------------------------------------------------------------------------------- Brian J. Walsh Vice President Since 2009 Vice President of all the DFA Entities. Portfolio 1970 Manager for Dimensional Fund Advisors LP (since 2004). ---------------------------------------------------------------------------------------------------------------- Weston J. Wellington Vice President Since 1997 Vice President of all the DFA Entities. 1951 ---------------------------------------------------------------------------------------------------------------- Ryan J. Wiley Vice President Since 2007 Vice President of all the DFA Entities. 1976 ---------------------------------------------------------------------------------------------------------------- Paul E. Wise Vice President Since 2005 Vice President of all the DFA Entities. 1955 ---------------------------------------------------------------------------------------------------------------- Joseph L. Young Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1978 Regional Director for Dimensional Fund Advisors LP (2005-2010). ---------------------------------------------------------------------------------------------------------------- /1/ Each officer holds office for an indefinite term at the pleasure of the Board of Directors and until his or her successor is elected and qualified. 327 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://us.dimensional.com and reflects the twelve-month period beginning July 1st and ending June 30th. 328 NOTICE TO SHAREHOLDERS (Unaudited) For shareholders that do not have an October 31, 2014 tax year end, this notice is for informational purposes only. For shareholders with an October 31, 2014 tax year end, please consult your tax advisor as to the pertinence of this notice. For the fiscal year November 1, 2013 to October 31, 2014, 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.......................... 28% 28% 44% -- -- 100% -- US Large Cap Equity Portfolio....... 99% 1% -- -- -- 100% 100% U.S. Large Cap Value Portfolio...... 99% -- 1% -- -- 100% 100% U.S. Targeted Value Portfolio....... 13% 5% 82% -- -- 100% 100% U.S. Small Cap Value Portfolio...... 13% -- 87% -- -- 100% 100% U.S. Core Equity 1 Portfolio........ 79% -- 21% -- -- 100% 100% U.S. Core Equity 2 Portfolio........ 62% 2% 36% -- -- 100% 100% U.S. Vector Equity Portfolio........ 46% 2% 52% -- -- 100% 100% U.S. Small Cap Portfolio............ 22% 6% 72% -- -- 100% 100% U.S. Micro Cap Portfolio............ 13% 5% 82% -- -- 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.......................... 44% 7% 49% -- -- 100% 100% Japanese Small Company Portfolio.......................... 100% -- -- -- -- 100% 100% Asia Pacific Small Company Portfolio.......................... 100% -- -- -- -- 100% 100% United Kingdom Small Company Portfolio.......................... 64% -- 36% -- -- 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.......................... -- 11% -- -- 100% 100% US 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% -- 3% 100% 100% 100% International Core Equity Portfolio.......................... 100% -- 4% 100% 100% 100% International Small Company Portfolio.......................... 100% -- 4% 100% 100% 100% Japanese Small Company Portfolio.......................... 100% -- 9% 100% 100% 100% Asia Pacific Small Company Portfolio.......................... 100% -- 1% 100% 100% 100% United Kingdom Small Company Portfolio.......................... 100% -- -- 100% 100% 100% Continental Small Company Portfolio.......................... 100% -- 7% 100% 100% 100% 329 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.......................... 55% 10% 35% -- -- 100% 100% International Vector Equity Portfolio.......................... 80% 1% 19% -- -- 100% 100% World ex U.S. Value Portfolio....... 100% -- -- -- -- 100% 100% World ex U.S. Targeted Value Portfolio.......................... 68% 1% 31% -- -- 100% 100% World ex U.S. Core Equity Portfolio.......................... 99% 1% -- -- -- 100% 100% World Core Equity Portfolio (formerly Dimensional Retirement Equity Fund II).................... 93% 3% 4% -- -- 100% 100% Selectively Hedged Global Equity Portfolio.......................... 69% 10% 21% -- -- 100% 100% Emerging Markets Portfolio.......... 79% -- 21% -- -- 100% 100% Emerging Markets Small Cap Portfolio.......................... 57% -- 43% -- -- 100% 100% Emerging Markets Value Portfolio.......................... 61% 2% 37% -- -- 100% 100% Emerging Markets Core Equity Portfolio.......................... 100% -- -- -- -- 100% 100% DFA Commodity Strategy Portfolio.......................... 84% 7% 9% -- -- 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% 78% 100% 100% DFA Global Real Estate Securities Portfolio.......................... 100% -- 2% 50% 100% 100% DFA International Small Cap Value Portfolio.......................... 100% -- 5% 100% 100% 100% International Vector Equity Portfolio.......................... 100% -- 4% 100% 100% 100% World ex U.S. Value Portfolio....... 100% -- 3% 100% 100% 100% World ex U.S. Targeted Value Portfolio.......................... 100% -- 6% 100% 100% 100% World ex U.S. Core Equity Portfolio.......................... 100% -- 5% 100% 100% 100% World Core Equity Portfolio (formerly Dimensional Retirement Equity Fund II).................... 100% -- 3% 100% 100% 100% Selectively Hedged Global Equity Portfolio.......................... 100% -- 2% 36% 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% -- 6% 100% 100% 100% Emerging Markets Core Equity Portfolio.......................... 100% -- 5% 100% 100% 100% DFA Commodity Strategy Portfolio.......................... 100% 5% -- -- 100% 100% Dimensional Investment Group Inc. DFA International Value Portfolio... 100% -- 2% 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). 330 NOTICE TO SHAREHOLDERS (Unaudited) (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. (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). 331 [LOGO] DFA103114-001A [LOGO] ANNUAL REPORT year ended: October 31, 2014 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-Duration Real Return 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 2014 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 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.......................................... 22 DFA One-Year Fixed Income Portfolio........................... 22 DFA Two-Year Global Fixed Income Portfolio.................... 26 DFA Selectively Hedged Global Fixed Income Portfolio.......... 30 DFA Short-Term Government Portfolio........................... 35 DFA Five-Year Global Fixed Income Portfolio................... 37 DFA World ex U.S. Government Fixed Income Portfolio........... 41 DFA Intermediate Government Fixed Income Portfolio............ 44 DFA Short-Term Extended Quality Portfolio..................... 46 DFA Intermediate-Term Extended Quality Portfolio.............. 54 DFA Investment Grade Portfolio................................ 62 DFA Inflation-Protected Securities Portfolio.................. 63 DFA Short-Duration Real Return Portfolio...................... 64 DFA Short-Term Municipal Bond Portfolio....................... 74 DFA Intermediate-Term Municipal Bond Portfolio................ 84 DFA California Short-Term Municipal Bond Portfolio............ 92 DFA California Intermediate-Term Municipal Bond Portfolio..... 99 Statements of Assets and Liabilities.............................. 104 Statements of Operations.......................................... 108 Statements of Changes in Net Assets............................... 112 Financial Highlights.............................................. 116 Notes to Financial Statements..................................... 124 Report of Independent Registered Public Accounting Firm........... 145 Fund Management...................................................... 146 Voting Proxies on Fund Portfolio Securities.......................... 157 Notice to Shareholders............................................... 158 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 CP Certificate Participation ETM Escrowed to Maturity FGIC Federal Guaranty Insurance Corporation 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 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, 2014. (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. ++ Security pledged as collateral for Swap Agreements. (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 US 6-MONTH TREASURY BILL INDEX, THE BOFA MERRILL LYNCH 1-YEAR US TREASURY NOTE INDEX October 31, 2004-October 31, 2014 [CHART] DFA One-Year Fixed The BofA Merrill Lynch The BofA Merrill Lynch Income Portfolio US 6-Month Treasury US 1-Year Treasury Bill Index US Note Index ----------------------- ----------------------- ----------------------- 10/31/2004 10,000 10,000 10,000 11/30/2004 9,977 10,009 9,985 12/31/2004 9,997 10,023 10,001 1/31/2005 10,007 10,042 10,009 2/28/2005 10,012 10,055 10,009 3/31/2005 10,015 10,078 10,023 4/30/2005 10,056 10,105 10,059 5/31/2005 10,088 10,137 10,089 6/30/2005 10,104 10,157 10,107 7/31/2005 10,102 10,175 10,106 8/31/2005 10,147 10,207 10,149 9/30/2005 10,156 10,232 10,152 10/31/2005 10,174 10,261 10,165 11/30/2005 10,200 10,297 10,196 12/31/2005 10,227 10,334 10,237 1/31/2006 10,258 10,365 10,260 2/28/2006 10,289 10,395 10,286 3/31/2006 10,329 10,434 10,315 4/30/2006 10,362 10,472 10,348 5/31/2006 10,405 10,512 10,374 6/30/2006 10,441 10,548 10,400 7/31/2006 10,487 10,599 10,460 8/31/2006 10,532 10,647 10,514 9/30/2006 10,581 10,696 10,562 10/31/2006 10,629 10,737 10,605 11/30/2006 10,667 10,782 10,648 12/31/2006 10,716 10,831 10,679 1/31/2007 10,768 10,875 10,719 2/28/2007 10,807 10,919 10,774 3/31/2007 10,860 10,968 10,816 4/30/2007 10,904 11,015 10,852 5/31/2007 10,953 11,068 10,887 6/30/2007 10,999 11,112 10,940 7/31/2007 11,044 11,157 11,002 8/31/2007 11,094 11,237 11,084 9/30/2007 11,131 11,284 11,143 10/31/2007 11,186 11,329 11,177 11/30/2007 11,222 11,406 11,289 12/31/2007 11,272 11,439 11,314 1/31/2008 11,316 11,534 11,459 2/29/2008 11,346 11,565 11,518 3/31/2008 11,367 11,595 11,554 4/30/2008 11,384 11,609 11,531 5/31/2008 11,407 11,609 11,527 6/30/2008 11,442 11,624 11,533 7/31/2008 11,468 11,661 11,570 8/31/2008 11,494 11,685 11,603 9/30/2008 11,443 11,739 11,655 10/31/2008 11,522 11,787 11,722 11/30/2008 11,604 11,827 11,796 12/31/2008 11,725 11,848 11,851 1/31/2009 11,736 11,847 11,839 2/28/2009 11,725 11,849 11,820 3/31/2009 11,768 11,861 11,849 4/30/2009 11,804 11,876 11,873 5/31/2009 11,849 11,881 11,882 6/30/2009 11,881 11,884 11,888 7/31/2009 11,889 11,893 11,903 8/31/2009 11,927 11,901 11,918 9/30/2009 11,952 11,907 11,927 10/31/2009 11,960 11,911 11,940 11/30/2009 11,992 11,916 11,961 12/31/2009 11,950 11,917 11,945 1/31/2010 11,985 11,923 11,973 2/28/2010 12,001 11,924 11,978 3/31/2010 11,997 11,925 11,974 4/30/2010 12,004 11,928 11,981 5/31/2010 12,010 11,934 11,988 6/30/2010 12,039 11,937 12,006 7/31/2010 12,058 11,942 12,019 8/31/2010 12,077 11,947 12,030 9/30/2010 12,083 11,950 12,035 10/31/2010 12,101 11,955 12,044 11/30/2010 12,084 11,956 12,041 12/31/2010 12,089 11,960 12,044 1/31/2011 12,100 11,963 12,055 2/28/2011 12,104 11,965 12,059 3/31/2011 12,111 11,968 12,063 4/30/2011 12,139 11,974 12,075 5/31/2011 12,157 11,976 12,083 6/30/2011 12,151 11,979 12,086 7/31/2011 12,167 11,978 12,083 8/31/2011 12,172 11,987 12,104 9/30/2011 12,165 11,987 12,102 10/31/2011 12,171 11,989 12,106 11/30/2011 12,164 11,990 12,110 12/31/2011 12,160 11,992 12,113 1/31/2012 12,196 11,992 12,116 2/29/2012 12,200 11,991 12,113 3/31/2012 12,206 11,993 12,113 4/30/2012 12,223 11,994 12,118 5/31/2012 12,217 11,997 12,121 6/30/2012 12,233 11,999 12,117 7/31/2012 12,251 12,002 12,129 8/31/2012 12,256 12,004 12,131 9/30/2012 12,262 12,006 12,134 10/31/2012 12,267 12,006 12,133 11/30/2012 12,271 12,009 12,138 12/31/2012 12,274 12,012 12,142 1/31/2013 12,286 12,014 12,144 2/28/2013 12,288 12,015 12,147 3/31/2013 12,292 12,018 12,151 4/30/2013 12,296 12,021 12,156 5/31/2013 12,288 12,022 12,157 6/30/2013 12,292 12,023 12,155 7/31/2013 12,295 12,026 12,163 8/31/2013 12,299 12,028 12,165 9/30/2013 12,314 12,031 12,171 10/31/2013 12,319 12,030 12,171 11/30/2013 12,321 12,031 12,171 12/31/2013 12,315 12,034 12,173 1/31/2014 12,327 12,037 12,176 2/28/2014 12,341 12,038 12,178 3/31/2014 12,332 12,039 12,182 4/30/2014 12,335 12,041 12,187 5/31/2014 12,350 12,041 12,190 6/30/2014 12,341 12,042 12,191 Past performance is not predictive of 7/31/2014 12,344 12,043 12,193 future performance. 8/31/2014 12,347 12,045 12,200 The returns shown do not reflect the 9/30/2014 12,350 12,047 12,203 deduction of taxes that a shareholder 10/31/2014 12,354 12,046 12,205 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 2014 Merrill --------------------------------------------------------------- Lynch, Pierce, Fenner & Smith 0.28% 0.65% 2.14% Incorporated; all rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- DFA TWO-YEAR GLOBAL FIXED INCOME PORTFOLIO VS. CITI WORLD GOVERNMENT BOND INDEX, 1-2 YEARS, CURRENCY-HEDGED IN USD TERMS October 31, 2004-October 31, 2014 [CHART] DFA Two-Year Global Citi World Government Fixed Income Portfolio Bond Index, 1-2 Years, Currency-Hedged in USD Terms ----------------------- ----------------------- 10/31/2004 10,000 10,000 11/30/2004 9,970 10,008 12/31/2004 9,985 10,022 1/31/2005 9,985 10,042 2/28/2005 9,974 10,049 3/31/2005 9,968 10,069 4/30/2005 10,019 10,112 5/31/2005 10,059 10,148 6/30/2005 10,075 10,176 7/31/2005 10,064 10,166 8/31/2005 10,115 10,206 9/30/2005 10,105 10,215 10/31/2005 10,115 10,227 11/30/2005 10,146 10,257 12/31/2005 10,174 10,291 1/31/2006 10,205 10,321 2/28/2006 10,236 10,345 3/31/2006 10,250 10,363 4/30/2006 10,281 10,397 5/31/2006 10,333 10,432 6/30/2006 10,365 10,464 7/31/2006 10,417 10,526 8/31/2006 10,469 10,586 9/30/2006 10,510 10,630 10/31/2006 10,542 10,668 11/30/2006 10,594 10,715 12/31/2006 10,628 10,741 1/31/2007 10,670 10,788 2/28/2007 10,723 10,841 3/31/2007 10,765 10,880 4/30/2007 10,807 10,920 5/31/2007 10,849 10,940 6/30/2007 10,891 10,983 7/31/2007 10,932 11,052 8/31/2007 10,985 11,141 9/30/2007 11,034 11,199 10/31/2007 11,098 11,247 11/30/2007 11,130 11,341 12/31/2007 11,188 11,376 1/31/2008 11,232 11,494 2/29/2008 11,254 11,549 3/31/2008 11,265 11,553 4/30/2008 11,297 11,525 5/31/2008 11,319 11,505 6/30/2008 11,350 11,519 7/31/2008 11,382 11,571 8/31/2008 11,415 11,612 9/30/2008 11,378 11,685 10/31/2008 11,456 11,811 11/30/2008 11,533 11,881 12/31/2008 11,645 11,956 1/31/2009 11,645 11,977 2/28/2009 11,645 11,986 3/31/2009 11,679 12,023 4/30/2009 11,725 12,034 5/31/2009 11,771 12,056 6/30/2009 11,793 12,068 7/31/2009 11,804 12,094 8/31/2009 11,839 12,118 9/30/2009 11,869 12,136 10/31/2009 11,880 12,145 11/30/2009 11,927 12,168 12/31/2009 11,887 12,153 1/31/2010 11,934 12,181 2/28/2010 11,957 12,205 3/31/2010 11,958 12,204 4/30/2010 11,970 12,192 5/31/2010 11,982 12,228 6/30/2010 12,017 12,234 7/31/2010 12,052 12,251 8/31/2010 12,076 12,268 9/30/2010 12,086 12,264 10/31/2010 12,098 12,271 11/30/2010 12,086 12,257 12/31/2010 12,095 12,268 1/31/2011 12,107 12,271 2/28/2011 12,107 12,272 3/31/2011 12,119 12,271 4/30/2011 12,142 12,286 5/31/2011 12,166 12,309 6/30/2011 12,166 12,312 7/31/2011 12,178 12,316 8/31/2011 12,202 12,363 9/30/2011 12,198 12,365 10/31/2011 12,198 12,360 11/30/2011 12,187 12,352 12/31/2011 12,189 12,407 1/31/2012 12,213 12,432 2/29/2012 12,225 12,449 3/31/2012 12,237 12,449 4/30/2012 12,249 12,456 5/31/2012 12,249 12,452 6/30/2012 12,263 12,462 7/31/2012 12,287 12,479 8/31/2012 12,299 12,500 9/30/2012 12,302 12,510 10/31/2012 12,302 12,516 11/30/2012 12,314 12,527 12/31/2012 12,315 12,535 1/31/2013 12,315 12,541 2/28/2013 12,327 12,553 3/31/2013 12,339 12,559 4/30/2013 12,352 12,575 5/31/2013 12,339 12,570 6/30/2013 12,327 12,564 7/31/2013 12,339 12,580 8/31/2013 12,339 12,580 9/30/2013 12,352 12,595 10/31/2013 12,364 12,610 11/30/2013 12,376 12,619 12/31/2013 12,371 12,617 1/31/2014 12,384 12,632 2/28/2014 12,384 12,638 3/31/2014 12,385 12,640 4/30/2014 12,398 12,646 5/31/2014 12,410 12,656 6/30/2014 12,402 12,662 7/31/2014 12,390 12,666 8/31/2014 12,402 12,676 9/30/2014 12,402 12,678 Past performance is not predictive of 10/31/2014 12,427 12,687 future performance. The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. ---------------------------------------------------------- Citigroup bond indices copyright 2014 0.51% 0.90% 2.20% by Citigroup. -------------------------------------------------------------------------------- 3 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- DFA SELECTIVELY HEDGED GLOBAL FIXED INCOME PORTFOLIO VS. CITI WORLD GOVERNMENT BOND INDEX, 1-3 YEARS, IN USD TERMS (UNHEDGED) January 9, 2008-October 31, 2014 [CHART] DFA Selectively Hedged Global Citi World Government Bond Index, Fixed Income Portfolio 1-3 Years,in USD Terms (unhedged) ------------------------------ ---------------------------------- 1/9/2008 10,000 10,000 1/31/2008 10,050 10,199 2/29/2008 10,140 10,433 3/31/2008 10,176 10,754 4/30/2008 10,216 10,485 5/31/2008 10,236 10,415 6/30/2008 10,266 10,466 7/31/2008 10,226 10,427 8/31/2008 9,845 10,188 9/30/2008 9,585 10,126 10/31/2008 8,933 10,032 11/30/2008 8,843 10,177 12/31/2008 9,113 10,732 1/31/2009 8,803 10,481 2/28/2009 8,742 10,160 3/31/2009 9,103 10,334 4/30/2009 9,184 10,379 5/31/2009 9,605 10,791 6/30/2009 9,615 10,735 7/31/2009 9,745 10,869 8/31/2009 9,825 11,016 9/30/2009 9,976 11,225 10/31/2009 10,026 11,251 11/30/2009 10,106 11,525 12/31/2009 10,044 11,076 1/31/2010 10,024 11,065 2/28/2010 10,054 11,084 3/31/2010 10,094 10,915 4/30/2010 10,144 10,843 5/31/2010 9,953 10,675 6/30/2010 9,984 10,776 7/31/2010 10,204 11,084 8/31/2010 10,134 11,116 9/30/2010 10,355 11,381 10/31/2010 10,435 11,578 11/30/2010 10,264 11,202 12/31/2010 10,522 11,426 1/31/2011 10,532 11,470 2/28/2011 10,603 11,508 3/31/2011 10,684 11,555 4/30/2011 10,959 11,838 5/31/2011 10,908 11,747 6/30/2011 10,918 11,794 7/31/2011 11,041 11,949 8/31/2011 10,990 12,038 9/30/2011 10,522 11,700 10/31/2011 10,837 11,827 11/30/2011 10,654 11,681 12/31/2011 10,611 11,654 1/31/2012 10,779 11,769 2/29/2012 10,895 11,675 3/31/2012 10,832 11,595 4/30/2012 10,853 11,690 5/31/2012 10,527 11,482 6/30/2012 10,758 11,544 7/31/2012 10,832 11,555 8/31/2012 10,916 11,649 9/30/2012 10,990 11,755 10/31/2012 10,969 11,692 11/30/2012 11,011 11,634 12/31/2012 11,058 11,565 1/31/2013 11,069 11,507 2/28/2013 11,015 11,353 3/31/2013 11,069 11,268 4/30/2013 11,156 11,300 5/31/2013 10,940 11,115 6/30/2013 10,680 11,136 7/31/2013 10,832 11,255 8/31/2013 10,691 11,228 9/30/2013 10,961 11,365 10/31/2013 11,026 11,398 11/30/2013 10,950 11,317 12/31/2013 10,936 11,293 1/31/2014 10,892 11,289 2/28/2014 11,057 11,390 3/31/2014 11,111 11,369 4/30/2014 11,166 11,422 5/31/2014 11,199 11,400 6/30/2014 11,243 11,441 7/31/2014 11,122 11,318 8/31/2014 11,177 11,261 Past performance is not predictive of 9/30/2014 10,958 10,985 future performance. 10/31/2014 10,947 10,923 The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Since would pay on fund distributions or the Total Return Year Years Inception redemption of fund shares. --------------------------------------------------------------- Citigroup bond indices copyright 2014 -0.72% 1.77% 1.34% by Citigroup. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- DFA SHORT-TERM GOVERNMENT PORTFOLIO VS. THE BOFA MERRILL LYNCH 1-5 YEAR US TREASURY & AGENCY INDEX October 31, 2004-October 31, 2014 [CHART] DFA Short-Term Government The BofA Merrill Lynch 1-5 Year, Portfolio US Treasury & Agency Index --------------------------- --------------------------------- 10/31/2004 10,000 10,000 11/30/2004 9,898 9,931 12/31/2004 9,951 9,965 1/31/2005 9,941 9,960 2/28/2005 9,875 9,920 3/31/2005 9,834 9,909 4/30/2005 9,938 9,988 5/31/2005 10,042 10,043 6/30/2005 10,070 10,068 7/31/2005 9,965 10,012 8/31/2005 10,070 10,097 9/30/2005 9,998 10,048 10/31/2005 9,969 10,030 11/30/2005 9,998 10,066 12/31/2005 10,027 10,109 1/31/2006 10,056 10,123 2/28/2006 10,076 10,127 3/31/2006 10,101 10,129 4/30/2006 10,140 10,154 5/31/2006 10,170 10,165 6/30/2006 10,209 10,182 7/31/2006 10,249 10,270 8/31/2006 10,298 10,357 9/30/2006 10,344 10,419 10/31/2006 10,394 10,466 11/30/2006 10,434 10,530 12/31/2006 10,479 10,518 1/31/2007 10,520 10,533 2/28/2007 10,561 10,636 3/31/2007 10,609 10,675 4/30/2007 10,649 10,717 5/31/2007 10,701 10,688 6/30/2007 10,739 10,724 7/31/2007 10,791 10,835 8/31/2007 10,832 10,957 9/30/2007 10,870 11,040 10/31/2007 10,912 11,089 11/30/2007 10,954 11,309 12/31/2007 10,998 11,347 1/31/2008 11,030 11,578 2/29/2008 11,147 11,701 3/31/2008 11,193 11,739 4/30/2008 10,957 11,621 5/31/2008 10,850 11,550 6/30/2008 10,908 11,591 7/31/2008 10,983 11,646 8/31/2008 11,091 11,711 9/30/2008 11,180 11,789 10/31/2008 11,310 11,899 11/30/2008 11,646 12,145 12/31/2008 11,917 12,297 1/31/2009 11,797 12,226 2/28/2009 11,797 12,215 3/31/2009 11,919 12,316 4/30/2009 11,908 12,287 5/31/2009 11,908 12,291 6/30/2009 11,915 12,262 7/31/2009 11,948 12,296 8/31/2009 12,026 12,365 9/30/2009 12,099 12,410 10/31/2009 12,132 12,441 11/30/2009 12,266 12,555 12/31/2009 12,091 12,409 1/31/2010 12,204 12,529 2/28/2010 12,261 12,570 3/31/2010 12,214 12,519 4/30/2010 12,282 12,573 5/31/2010 12,373 12,661 6/30/2010 12,504 12,758 7/31/2010 12,606 12,828 8/31/2010 12,652 12,881 9/30/2010 12,686 12,915 10/31/2010 12,778 12,962 11/30/2010 12,698 12,914 12/31/2010 12,629 12,839 1/31/2011 12,641 12,876 2/28/2011 12,618 12,850 3/31/2011 12,634 12,844 4/30/2011 12,740 12,935 5/31/2011 12,846 13,022 6/30/2011 12,830 13,027 7/31/2011 12,913 13,117 8/31/2011 13,007 13,213 9/30/2011 12,993 13,196 10/31/2011 13,005 13,209 11/30/2011 13,028 13,226 12/31/2011 13,058 13,249 1/31/2012 13,118 13,291 2/29/2012 13,094 13,258 3/31/2012 13,104 13,234 4/30/2012 13,152 13,295 5/31/2012 13,152 13,318 6/30/2012 13,172 13,309 7/31/2012 13,220 13,361 8/31/2012 13,257 13,370 9/30/2012 13,251 13,371 10/31/2012 13,251 13,355 11/30/2012 13,275 13,384 12/31/2012 13,265 13,378 1/31/2013 13,253 13,362 2/28/2013 13,278 13,393 3/31/2013 13,283 13,399 4/30/2013 13,320 13,429 5/31/2013 13,233 13,361 6/30/2013 13,136 13,306 7/31/2013 13,185 13,337 8/31/2013 13,123 13,300 9/30/2013 13,210 13,368 10/31/2013 13,247 13,402 11/30/2013 13,272 13,419 12/31/2013 13,206 13,356 1/31/2014 13,268 13,414 2/28/2014 13,281 13,433 3/31/2014 13,257 13,391 4/30/2014 13,282 13,425 5/31/2014 13,332 13,478 6/30/2014 13,318 13,465 Past performance is not predictive of 7/31/2014 13,293 13,435 future performance. 8/31/2014 13,318 13,481 The returns shown do not reflect the 9/30/2014 13,307 13,458 deduction of taxes that a shareholder 10/31/2014 13,357 13,524 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 2014 Merrill ------------------------------------------------------------- Lynch, Pierce, Fenner & Smith 0.83% 1.94% 2.94% Incorporated; all rights reserved. -------------------------------------------------------------------------------- 4 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- DFA FIVE-YEAR GLOBAL FIXED INCOME PORTFOLIO VS. CITI WORLD GOVERNMENT BOND INDEX, 1-5 YEARS, CURRENCY-HEDGED IN USD TERMS October 31, 2004-October 31, 2014 [CHART] DFA Five-Year Global Citi World Government Bond Index, Fixed Income Portfolio 1-5 Years, Currency-Hedged in USD Terms ---------------------- --------------------------------- 10/31/2004 10,000 10,000 11/30/2004 9,906 10,016 12/31/2004 9,974 10,040 1/31/2005 9,993 10,073 2/28/2005 9,945 10,063 3/31/2005 9,898 10,093 4/30/2005 10,032 10,167 5/31/2005 10,117 10,218 6/30/2005 10,189 10,268 7/31/2005 10,122 10,249 8/31/2005 10,217 10,301 9/30/2005 10,138 10,286 10/31/2005 10,100 10,276 11/30/2005 10,119 10,309 12/31/2005 10,145 10,349 1/31/2006 10,155 10,366 2/28/2006 10,175 10,377 3/31/2006 10,145 10,368 4/30/2006 10,165 10,395 5/31/2006 10,215 10,434 6/30/2006 10,235 10,457 7/31/2006 10,304 10,534 8/31/2006 10,394 10,626 9/30/2006 10,434 10,674 10/31/2006 10,473 10,711 11/30/2006 10,513 10,765 12/31/2006 10,540 10,772 1/31/2007 10,590 10,810 2/28/2007 10,640 10,881 3/31/2007 10,680 10,916 4/30/2007 10,710 10,950 5/31/2007 10,740 10,938 6/30/2007 10,767 10,966 7/31/2007 10,827 11,061 8/31/2007 10,908 11,178 9/30/2007 10,947 11,239 10/31/2007 11,008 11,296 11/30/2007 11,038 11,419 12/31/2007 11,090 11,451 1/31/2008 11,153 11,623 2/29/2008 11,194 11,699 3/31/2008 11,204 11,696 4/30/2008 11,122 11,619 5/31/2008 11,090 11,553 6/30/2008 11,122 11,553 7/31/2008 11,184 11,638 8/31/2008 11,246 11,711 9/30/2008 11,130 11,786 10/31/2008 11,193 11,957 11/30/2008 11,360 12,086 12/31/2008 11,537 12,206 1/31/2009 11,516 12,212 2/28/2009 11,505 12,236 3/31/2009 11,547 12,300 4/30/2009 11,621 12,302 5/31/2009 11,642 12,307 6/30/2009 11,713 12,327 7/31/2009 11,808 12,372 8/31/2009 11,915 12,415 9/30/2009 11,995 12,454 10/31/2009 12,059 12,466 11/30/2009 12,209 12,533 12/31/2009 12,021 12,486 1/31/2010 12,173 12,534 2/28/2010 12,250 12,586 3/31/2010 12,241 12,581 4/30/2010 12,328 12,587 5/31/2010 12,405 12,669 6/30/2010 12,486 12,701 7/31/2010 12,674 12,747 8/31/2010 12,828 12,808 9/30/2010 12,876 12,798 10/31/2010 12,964 12,811 11/30/2010 12,831 12,748 12/31/2010 12,658 12,734 1/31/2011 12,693 12,725 2/28/2011 12,681 12,713 3/31/2011 12,693 12,705 4/30/2011 12,856 12,743 5/31/2011 13,007 12,805 6/30/2011 13,007 12,812 7/31/2011 13,216 12,857 8/31/2011 13,309 12,969 9/30/2011 13,284 12,973 10/31/2011 13,320 12,955 11/30/2011 13,119 12,929 12/31/2011 13,228 13,028 1/31/2012 13,362 13,085 2/29/2012 13,386 13,107 3/31/2012 13,422 13,096 4/30/2012 13,471 13,122 5/31/2012 13,556 13,134 6/30/2012 13,564 13,147 7/31/2012 13,735 13,191 8/31/2012 13,784 13,225 9/30/2012 13,806 13,249 10/31/2012 13,818 13,257 11/30/2012 13,867 13,291 12/31/2012 13,863 13,302 1/31/2013 13,801 13,291 2/28/2013 13,888 13,322 3/31/2013 13,913 13,335 4/30/2013 13,987 13,378 5/31/2013 13,863 13,333 6/30/2013 13,692 13,291 7/31/2013 13,780 13,328 8/31/2013 13,705 13,309 9/30/2013 13,817 13,355 10/31/2013 13,905 13,399 11/30/2013 13,929 13,420 12/31/2013 13,807 13,385 1/31/2014 13,959 13,442 2/28/2014 13,985 13,461 3/31/2014 13,916 13,458 4/30/2014 13,993 13,482 5/31/2014 14,095 13,521 6/30/2014 14,079 13,536 7/31/2014 14,040 13,538 8/31/2014 14,130 13,577 Past performance is not predictive of 9/30/2014 14,066 13,575 future performance. 10/31/2014 14,168 13,607 The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. --------------------------------------------------------------- Citigroup bond indices copyright 2014 1.90% 3.28% 3.55% by Citigroup. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- DFA WORLD EX U.S. GOVERNMENT FIXED INCOME PORTFOLIO VS. CITI NON-USD WORLD GOVERNMENT BOND INDEX, CURRENCY-HEDGED IN USD TERMS December 6, 2011-October 31, 2014 [CHART] DFA World Ex U.S. Citi Non-USD World Government Fixed Income Government Bond Index, Portfolio Currency-Hedged in USD Terms ------------------------------- ---------------------------- 12/06/11 10,000 10,000 12/31/11 10,095 10,085 1/31/12 10,145 10,165 2/29/12 10,175 10,216 3/31/12 10,165 10,218 4/30/12 10,246 10,246 5/31/12 10,506 10,370 6/30/12 10,427 10,329 7/31/12 10,648 10,436 8/31/12 10,658 10,456 9/30/12 10,656 10,515 10/31/12 10,666 10,538 11/30/12 10,757 10,623 12/31/12 10,771 10,641 1/31/13 10,606 10,608 2/28/13 10,730 10,670 3/31/13 10,834 10,776 4/30/13 10,968 10,899 5/31/13 10,741 10,744 6/30/13 10,524 10,638 7/31/13 10,587 10,690 8/31/13 10,483 10,668 9/30/13 10,576 10,745 10/31/13 10,690 10,852 11/30/13 10,680 10,857 12/31/13 10,538 10,792 1/31/14 10,780 10,963 2/28/14 10,811 11,013 3/31/14 10,848 11,051 4/30/14 10,933 11,119 5/31/14 11,081 11,203 6/30/14 11,143 11,273 7/31/14 11,239 11,343 8/31/14 11,474 11,505 Past performance is not predictive of 9/30/14 11,431 11,500 future performance. 10/31/14 11,538 11,562 The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Since would pay on fund distributions or the Total Return Year Inception redemption of fund shares. -------------------------------------------------------- Citigroup bond indices copyright 2014 7.93% 5.05% 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, 2004-October 31, 2014 [CHART] DFA Intermediate Government Barclays Capital U.S. Fixed Income Portfolio Government Bond Index --------------------------- --------------------- 10/31/04 10,000 10,000 11/30/04 9,866 9,881 12/31/04 9,966 9,970 1/31/05 10,008 10,032 2/28/05 9,915 9,961 3/31/05 9,862 9,928 4/30/05 10,034 10,087 5/31/05 10,171 10,204 6/30/05 10,231 10,262 7/31/05 10,067 10,138 8/31/05 10,249 10,287 9/30/05 10,094 10,166 10/31/05 9,997 10,094 11/30/05 10,050 10,140 12/31/05 10,129 10,234 1/31/06 10,120 10,216 2/28/06 10,111 10,233 3/31/06 10,031 10,140 4/30/06 9,995 10,112 5/31/06 10,004 10,114 6/30/06 10,004 10,142 7/31/06 10,141 10,263 8/31/06 10,305 10,408 9/30/06 10,399 10,501 10/31/06 10,464 10,556 11/30/06 10,583 10,663 12/31/06 10,492 10,589 1/31/07 10,474 10,576 2/28/07 10,661 10,739 3/31/07 10,663 10,742 4/30/07 10,720 10,796 5/31/07 10,597 10,711 6/30/07 10,585 10,706 7/31/07 10,728 10,859 8/31/07 10,928 11,023 9/30/07 11,013 11,093 10/31/07 11,090 11,174 11/30/07 11,437 11,481 12/31/07 11,493 11,506 1/31/08 11,806 11,782 2/29/08 11,904 11,893 3/31/08 11,988 11,972 4/30/08 11,811 11,804 5/31/08 11,633 11,675 6/30/08 11,683 11,743 7/31/08 11,753 11,795 8/31/08 11,873 11,915 9/30/08 11,871 11,969 10/31/08 11,750 11,936 11/30/08 12,415 12,502 12/31/08 12,973 12,932 1/31/09 12,665 12,610 2/28/09 12,593 12,576 3/31/09 12,791 12,805 4/30/09 12,667 12,634 5/31/09 12,636 12,539 6/30/09 12,658 12,522 7/31/09 12,741 12,582 8/31/09 12,846 12,681 9/30/09 12,965 12,776 10/31/09 13,008 12,778 11/30/09 13,198 12,941 12/31/09 12,880 12,648 1/31/10 13,106 12,831 2/28/10 13,181 12,884 3/31/10 13,099 12,788 4/30/10 13,240 12,909 5/31/10 13,434 13,107 6/30/10 13,684 13,330 7/31/10 13,826 13,421 8/31/10 14,067 13,659 9/30/10 14,104 13,666 10/31/10 14,159 13,657 11/30/10 14,038 13,565 12/31/10 13,771 13,346 1/31/11 13,771 13,346 2/28/11 13,771 13,339 3/31/11 13,774 13,335 4/30/11 13,943 13,480 5/31/11 14,168 13,672 6/30/11 14,107 13,631 7/31/11 14,380 13,858 8/31/11 14,733 14,210 9/30/11 14,866 14,428 10/31/11 14,785 14,325 11/30/11 14,900 14,422 12/31/11 15,069 14,550 1/31/12 15,174 14,614 2/29/12 15,104 14,519 3/31/12 15,000 14,387 4/30/12 15,234 14,581 5/31/12 15,422 14,808 6/30/12 15,388 14,765 7/31/12 15,553 14,906 8/31/12 15,612 14,892 9/30/12 15,621 14,853 10/31/12 15,597 14,831 11/30/12 15,704 14,904 12/31/12 15,628 14,844 1/31/13 15,508 14,732 2/28/13 15,628 14,807 3/31/13 15,630 14,821 4/30/13 15,763 14,946 5/31/13 15,462 14,702 6/30/13 15,118 14,542 7/31/13 15,142 14,528 8/31/13 14,984 14,458 9/30/13 15,185 14,559 10/31/13 15,270 14,628 11/30/13 15,246 14,585 12/31/13 15,078 14,458 1/31/14 15,336 14,647 2/28/14 15,373 14,688 3/31/14 15,333 14,648 4/30/14 15,432 14,728 5/31/14 15,592 14,863 6/30/14 15,572 14,844 7/31/14 15,535 14,820 8/31/14 15,684 14,970 Past performance is not predictive of 9/30/14 15,579 14,892 future performance. 10/31/14 15,729 15,032 The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. ---------------------------------------------------------- Barclays Capital data provided by 3.00% 3.87% 4.63% Barclays Bank PLC. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- DFA SHORT-TERM EXTENDED QUALITY PORTFOLIO VS. THE BOFA MERRILL LYNCH 1-5 YEAR US CORPORATE & GOVERNMENT INDEX March 4, 2009-October 31, 2014 [CHART] DFA Short-Term Extended The BofA Merrill Lynch 1-5 Year Quality Portfolio US Corporate & Government Index ----------------------- ---------------------------------- 3/4/2009 10,000 10,000 3/31/2009 10,030 10,077 4/30/2009 10,135 10,138 5/31/2009 10,251 10,223 6/30/2009 10,348 10,251 7/31/2009 10,501 10,329 8/31/2009 10,602 10,414 9/30/2009 10,681 10,476 10/31/2009 10,749 10,524 11/30/2009 10,880 10,628 12/31/2009 10,774 10,522 1/31/2010 10,918 10,641 2/28/2010 10,964 10,679 3/31/2010 10,958 10,655 4/30/2010 11,041 10,712 5/31/2010 11,047 10,754 6/30/2010 11,135 10,837 7/31/2010 11,258 10,922 8/31/2010 11,347 10,980 9/30/2010 11,404 11,022 10/31/2010 11,473 11,072 11/30/2010 11,403 11,024 12/31/2010 11,329 10,960 1/31/2011 11,381 11,002 2/28/2011 11,381 10,992 3/31/2011 11,383 10,994 4/30/2011 11,500 11,083 5/31/2011 11,575 11,159 6/30/2011 11,564 11,157 7/31/2011 11,671 11,241 8/31/2011 11,691 11,290 9/30/2011 11,648 11,250 10/31/2011 11,692 11,287 11/30/2011 11,615 11,269 12/31/2011 11,660 11,300 1/31/2012 11,768 11,373 2/29/2012 11,808 11,374 3/31/2012 11,817 11,370 4/30/2012 11,859 11,420 5/31/2012 11,866 11,429 6/30/2012 11,885 11,439 7/31/2012 11,989 11,507 8/31/2012 12,021 11,530 9/30/2012 12,062 11,551 10/31/2012 12,069 11,554 11/30/2012 12,087 11,578 12/31/2012 12,083 11,579 1/31/2013 12,072 11,574 2/28/2013 12,112 11,606 3/31/2013 12,125 11,614 4/30/2013 12,171 11,649 5/31/2013 12,111 11,590 6/30/2013 12,013 11,521 7/31/2013 12,062 11,561 8/31/2013 12,021 11,533 9/30/2013 12,108 11,599 10/31/2013 12,164 11,644 11/30/2013 12,190 11,664 12/31/2013 12,132 11,615 1/31/2014 12,211 11,672 2/28/2014 12,242 11,699 3/31/2014 12,213 11,667 4/30/2014 12,251 11,702 5/31/2014 12,311 11,757 6/30/2014 12,304 11,752 Past performance is not predictive of 7/31/2014 12,284 11,726 future performance. 8/31/2014 12,321 11,768 The returns shown do not reflect the 9/30/2014 12,290 11,744 deduction of taxes that a shareholder 10/31/2014 12,339 11,798 would pay on fund distributions or the redemption of fund shares. Average Annual One Five Since The Merrill Lynch Indices are used with Total Return Year Years Inception permission; copyright 2014 Merrill -------------------------------------------------------------- Lynch, Pierce, Fenner & Smith 1.44% 2.80% 3.78% 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, 2014 [CHART] DFA Intermediate-Term Barclays Capital U.S. Extended Quality Portfolio Credit Bond Index -------------------------- --------------------- 7/20/2010 10,000 10,000 7/31/2010 10,020 10,093 8/31/2010 10,230 10,296 9/30/2010 10,282 10,362 10/31/2010 10,315 10,376 11/30/2010 10,195 10,273 12/31/2010 9,963 10,169 1/31/2011 9,983 10,191 2/28/2011 10,018 10,264 3/31/2011 10,015 10,260 4/30/2011 10,184 10,434 5/31/2011 10,363 10,594 6/30/2011 10,278 10,516 7/31/2011 10,583 10,769 8/31/2011 10,745 10,808 9/30/2011 10,773 10,835 10/31/2011 10,825 10,993 11/30/2011 10,683 10,809 12/31/2011 10,897 11,019 1/31/2012 11,085 11,248 2/29/2012 11,133 11,333 3/31/2012 11,032 11,243 4/30/2012 11,228 11,394 5/31/2012 11,359 11,471 6/30/2012 11,356 11,520 7/31/2012 11,607 11,832 8/31/2012 11,644 11,857 9/30/2012 11,715 11,928 10/31/2012 11,819 12,061 11/30/2012 11,850 12,061 12/31/2012 11,798 12,053 1/31/2013 11,658 11,948 2/28/2013 11,770 12,031 3/31/2013 11,804 12,032 4/30/2013 11,989 12,249 5/31/2013 11,676 11,960 6/30/2013 11,290 11,619 7/31/2013 11,362 11,701 8/31/2013 11,224 11,607 9/30/2013 11,364 11,703 10/31/2013 11,509 11,872 11/30/2013 11,448 11,840 12/31/2013 11,348 11,810 1/31/2014 11,657 12,009 2/28/2014 11,730 12,140 3/31/2014 11,715 12,154 4/30/2014 11,855 12,299 5/31/2014 12,052 12,473 6/30/2014 12,051 12,483 7/31/2014 12,035 12,478 8/31/2014 12,223 12,658 Past performance is not predictive of 9/30/2014 12,070 12,480 future performance. 10/31/2014 12,189 12,613 The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Since would pay on fund distributions or the Total Return Year Inception redemption of fund shares. --------------------------------------------------- Barclays Capital data provided by 5.91% 4.73% Barclays Bank PLC. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- DFA INVESTMENT GRADE PORTFOLIO VS. BARCLAYS U.S. AGGREGATE BOND INDEX March 7, 2011-October 31, 2014 [CHART] DFA Investment Grade Portfolio Barclays U. S. Aggregate Bond Index -------------------------------- ------------------------------------- 3/7/2011 10,000 10,000 3/31/2011 10,040 10,026 4/30/2011 10,180 10,153 5/31/2011 10,330 10,285 6/30/2011 10,273 10,255 7/31/2011 10,505 10,418 8/31/2011 10,686 10,570 9/30/2011 10,725 10,647 10/31/2011 10,735 10,658 11/30/2011 10,694 10,649 12/31/2011 10,831 10,766 1/31/2012 10,953 10,861 2/29/2012 10,963 10,858 3/31/2012 10,899 10,799 4/30/2012 11,042 10,919 5/31/2012 11,145 11,017 6/30/2012 11,140 11,022 7/31/2012 11,295 11,174 8/31/2012 11,336 11,181 9/30/2012 11,371 11,196 10/31/2012 11,402 11,218 11/30/2012 11,443 11,236 12/31/2012 11,406 11,220 1/31/2013 11,322 11,142 2/28/2013 11,396 11,198 3/31/2013 11,418 11,207 4/30/2013 11,533 11,320 5/31/2013 11,313 11,118 6/30/2013 11,045 10,946 7/31/2013 11,098 10,961 8/31/2013 10,982 10,905 9/30/2013 11,116 11,008 10/31/2013 11,222 11,097 11/30/2013 11,180 11,056 12/31/2013 11,078 10,993 1/31/2014 11,314 11,156 2/28/2014 11,367 11,215 3/31/2014 11,349 11,196 4/30/2014 11,446 11,291 5/31/2014 11,596 11,419 6/30/2014 11,583 11,425 7/31/2014 11,561 11,396 8/31/2014 11,702 11,522 Past performance is not predictive of 9/30/2014 11,595 11,444 future performance. 10/31/2014 11,704 11,556 The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Since would pay on fund distributions or the Total Return Year Inception redemption of fund shares. ----------------------------------------------------------- Barclays Capital data provided by 4.29% 4.40% Barclays Bank PLC. -------------------------------------------------------------------------------- 7 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- DFA INFLATION-PROTECTED SECURITIES PORTFOLIO CLASS VS. BARCLAYS U.S. TIPS INDEX (SERIES-L) September 18, 2006-October 31, 2014 [CHART] DFA Inflation-Protected Securities Barclays U.S. TIPS Portfolio Class Index (Series-L) ------------------------------------ -------------------- 9/18/2006 $10,000 $10,000 9/30/2006 10,090 10,115 10/31/2006 10,070 10,098 11/30/2006 10,190 10,223 12/31/2006 9,947 9,984 1/31/2007 9,967 9,997 2/28/2007 10,177 10,211 3/31/2007 10,202 10,235 4/30/2007 10,272 10,308 5/31/2007 10,132 10,173 6/30/2007 10,101 10,157 7/31/2007 10,356 10,389 8/31/2007 10,438 10,478 9/30/2007 10,567 10,618 10/31/2007 10,712 10,737 11/30/2007 11,167 11,163 12/31/2007 11,125 11,146 1/31/2008 11,605 11,587 2/29/2008 11,803 11,730 3/31/2008 11,827 11,723 4/30/2008 11,544 11,476 5/31/2008 11,533 11,513 6/30/2008 11,761 11,690 7/31/2008 11,686 11,630 8/31/2008 11,772 11,725 9/30/2008 11,291 11,276 10/31/2008 10,285 10,296 11/30/2008 10,318 10,369 12/31/2008 10,967 10,884 1/31/2009 11,100 11,067 2/28/2009 10,834 10,850 3/31/2009 11,531 11,484 4/30/2009 11,354 11,270 5/31/2009 11,520 11,507 6/30/2009 11,531 11,560 7/31/2009 11,564 11,568 8/31/2009 11,675 11,670 9/30/2009 11,918 11,916 10/31/2009 12,106 12,062 11/30/2009 12,437 12,397 12/31/2009 12,175 12,126 1/31/2010 12,365 12,321 2/28/2010 12,253 12,178 3/31/2010 12,237 12,194 4/30/2010 12,562 12,483 5/31/2010 12,550 12,482 6/30/2010 12,754 12,660 7/31/2010 12,766 12,678 8/31/2010 12,992 12,897 9/30/2010 13,131 12,975 10/31/2010 13,472 13,319 11/30/2010 13,256 13,093 12/31/2010 13,004 12,891 1/31/2011 13,073 12,916 2/28/2011 13,154 13,027 3/31/2011 13,274 13,159 4/30/2011 13,609 13,490 5/31/2011 13,702 13,531 6/30/2011 13,822 13,640 7/31/2011 14,400 14,174 8/31/2011 14,542 14,289 9/30/2011 14,486 14,256 10/31/2011 14,736 14,521 11/30/2011 14,880 14,633 12/31/2011 14,895 14,639 1/31/2012 15,236 14,974 2/29/2012 15,187 14,925 3/31/2012 15,029 14,765 4/30/2012 15,370 15,064 5/31/2012 15,614 15,316 6/30/2012 15,525 15,230 7/31/2012 15,796 15,519 8/31/2012 15,796 15,474 9/30/2012 15,907 15,553 10/31/2012 16,018 15,688 11/30/2012 16,117 15,763 12/31/2012 16,005 15,660 1/31/2013 15,892 15,555 2/28/2013 15,917 15,560 3/31/2013 15,967 15,604 4/30/2013 16,092 15,728 5/31/2013 15,380 15,042 6/30/2013 14,699 14,503 7/31/2013 14,862 14,609 8/31/2013 14,585 14,396 9/30/2013 14,887 14,605 10/31/2013 14,963 14,685 11/30/2013 14,798 14,526 12/31/2013 14,521 14,312 1/31/2014 14,863 14,595 2/28/2014 14,914 14,661 3/31/2014 14,800 14,591 4/30/2014 15,015 14,788 5/31/2014 15,345 15,101 6/30/2014 15,388 15,147 7/31/2014 15,376 15,151 8/31/2014 15,452 15,217 Past performance is not predictive of 9/30/2014 15,040 14,837 future performance. 10/31/2014 15,169 14,964 The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Since would pay on fund distributions or the Total Return Year Years Inception redemption of fund shares. ------------------------------------------------------------- Barclays Capital data provided by 1.38% 4.61% 5.27% Barclays Bank PLC. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- DFA SHORT DURATION REAL RETURN PORTFOLIO VS. BARCLAYS U.S. TIPS INDEX 1-5 YEARS November 5, 2013 - October 31, 2014 [CHART] DFA Short Duration Barclays U.S. TIPS Real Return Index 1-5 Years ------------------ ------------------ 11/5/2013 $10,000 $10,000 11/30/2013 9,990 10,020 12/31/2013 9,930 9,969 1/31/2014 9,980 10,009 2/28/2014 10,040 10,037 3/31/2014 10,020 9,989 4/30/2014 10,060 10,050 5/31/2014 10,170 10,135 6/30/2014 10,221 10,171 7/31/2014 10,160 10,136 8/31/2014 10,140 10,121 Past performance is not predictive of 9/30/2014 10,030 10,015 future performance. 10/31/2014 10,020 10,019 The returns shown do not reflect the deduction of taxes that a shareholder Average Annual Since would pay on fund distributions or the Total Return Inception redemption of fund shares. --------------------------------------- Barclays Capital data provided by 0.20% Barclays Bank PLC. -------------------------------------------------------------------------------- 8 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- DFA SHORT-TERM MUNICIPAL BOND PORTFOLIO VS. THE BOFA MERRILL LYNCH 1-3 YEAR US MUNICIPAL SECURITIES INDEX October 31, 2004 - October 31, 2014 [CHART] DFA Short-Term Municipal The BofA Merrill Lynch Bond Portfolio 1-3 Year,US Municipal Securities Index -------------------------- ----------------------- 10/2004 $10,000 $10,000 11/2004 9,966 9,965 12/2004 10,008 9,997 01/2005 9,988 9,994 02/2005 9,973 9,986 03/2005 9,941 9,973 04/2005 9,997 10,001 05/2005 10,014 10,018 06/2005 10,054 10,066 07/2005 10,034 10,067 08/2005 10,061 10,087 09/2005 10,071 10,098 10/2005 10,060 10,097 11/2005 10,077 10,100 12/2005 10,108 10,138 01/2006 10,128 10,162 02/2006 10,142 10,170 03/2006 10,143 10,175 04/2006 10,153 10,191 05/2006 10,194 10,229 06/2006 10,198 10,229 07/2006 10,242 10,284 08/2006 10,288 10,347 09/2006 10,324 10,385 10/2006 10,347 10,415 11/2006 10,381 10,449 12/2006 10,395 10,468 01/2007 10,416 10,476 02/2007 10,448 10,522 03/2007 10,485 10,561 04/2007 10,510 10,584 05/2007 10,537 10,601 06/2007 10,564 10,622 07/2007 10,601 10,676 08/2007 10,629 10,723 09/2007 10,667 10,789 10/2007 10,704 10,834 11/2007 10,731 10,896 12/2007 10,767 10,959 01/2008 10,820 11,145 02/2008 10,800 11,053 03/2008 10,840 11,181 04/2008 10,845 11,186 05/2008 10,871 11,224 06/2008 10,853 11,199 07/2008 10,900 11,296 08/2008 10,949 11,359 09/2008 10,870 11,269 10/2008 10,907 11,319 11/2008 10,997 11,434 12/2008 11,079 11,525 01/2009 11,211 11,668 02/2009 11,182 11,656 03/2009 11,232 11,712 04/2009 11,263 11,744 05/2009 11,250 11,771 06/2009 11,258 11,793 07/2009 11,366 11,870 08/2009 11,352 11,875 09/2009 11,415 11,940 10/2009 11,377 11,941 11/2009 11,484 12,000 12/2009 11,488 12,010 01/2010 11,522 12,042 02/2010 11,555 12,072 03/2010 11,492 12,039 04/2010 11,522 12,077 05/2010 11,572 12,118 06/2010 11,600 12,146 07/2010 11,685 12,198 08/2010 11,736 12,223 09/2010 11,694 12,210 10/2010 11,688 12,217 11/2010 11,659 12,185 12/2010 11,615 12,165 01/2011 11,615 12,188 02/2011 11,640 12,217 03/2011 11,679 12,245 04/2011 11,728 12,279 05/2011 11,779 12,328 06/2011 11,793 12,354 07/2011 11,834 12,387 08/2011 11,895 12,419 09/2011 11,864 12,413 10/2011 11,833 12,400 11/2011 11,846 12,418 12/2011 11,891 12,452 01/2012 11,926 12,483 02/2012 11,949 12,513 03/2012 11,917 12,506 04/2012 11,943 12,520 05/2012 11,945 12,529 06/2012 11,959 12,537 07/2012 11,974 12,557 08/2012 11,986 12,565 09/2012 11,988 12,578 10/2012 11,988 12,579 11/2012 11,988 12,590 12/2012 11,978 12,581 01/2013 11,989 12,607 02/2013 11,997 12,631 03/2013 11,999 12,637 04/2013 12,008 12,645 05/2013 12,006 12,643 06/2013 11,980 12,614 07/2013 11,989 12,642 08/2013 11,986 12,648 09/2013 12,006 12,673 10/2013 12,039 12,699 11/2013 12,035 12,712 12/2013 12,033 12,716 01/2014 12,068 12,741 02/2014 12,095 12,767 03/2014 12,046 12,747 04/2014 12,066 12,766 Past performance is not predictive of 05/2014 12,099 12,785 future performance. 06/2014 12,096 12,791 The returns shown do not reflect the 07/2014 12,105 12,797 deduction of taxes that a shareholder 08/2014 12,148 12,808 would pay on fund distributions or the 09/2014 12,134 12,806 redemption of fund shares. 10/2014 12,143 12,813 Barclays Capital data provided by Barclays Bank PLC. Average Annual One Five Ten The Merrill Lynch Indices are used with Total Return Year Years Years permission; copyright 2014 Merrill ---------------------------------------------------------- Lynch, Pierce, Fenner & Smith 0.87% 1.31% 1.96% Incorporated; all rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- DFA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO VS. S&P INTERMEDIATE TERM NATIONAL AMT-FREE MUNICIPAL BOND INDEX March 1, 2012-October 31, 2014 [CHART] DFA Intermediate-Term Municipal S&P Intermediate Term National Bond Portfolio AMT-Free Municipal Bond Index ------------------------------- -------------------------------- 3/1/2012 $10,000 $10,000 3/31/2012 9,860 9,930 4/30/2012 9,957 10,019 5/31/2012 10,012 10,082 6/30/2012 9,974 10,071 7/31/2012 10,066 10,198 8/31/2012 10,055 10,209 9/30/2012 10,106 10,267 10/31/2012 10,113 10,277 11/30/2012 10,225 10,414 12/31/2012 10,114 10,281 1/31/2013 10,124 10,327 2/28/2013 10,160 10,367 3/31/2011 10,128 10,318 4/30/2013 10,227 10,409 5/31/2013 10,053 10,290 6/30/2013 9,828 10,051 7/31/2013 9,828 10,016 8/31/2013 9,704 9,901 9/30/2013 9,928 10,073 10/31/2013 10,022 10,152 11/30/2013 9,954 10,133 12/31/2013 9,907 10,106 1/31/2014 10,070 10,268 2/28/2014 10,177 10,369 3/31/2014 10,101 10,349 4/30/2014 10,228 10,456 5/31/2014 10,325 10,549 6/30/2014 10,299 10,541 7/31/2014 10,324 10,563 8/31/2014 10,430 10,665 Past performance is not predictive of 9/30/2014 10,392 10,661 future performance. 10/31/2014 10,457 10,707 The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Since would pay on fund distributions or the Total Return Year Inception redemption of fund shares. ----------------------------------------------------------- The S&P data are provided by Standard 4.34% 1.69% & Poor's Index Services Group. -------------------------------------------------------------------------------- 9 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- 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, 2014 [CHART] DFA California Short-Term The BofA Merrill Lynch 1-3 Year Municipal Bond Portfolio California including Puerto Rico Municipal Securities Index ------------------------- -------------------------------- 4/02/07 10,000 10,000 4/30/07 10,010 10,023 5/31/07 10,038 10,040 6/30/07 10,061 10,060 7/31/07 10,090 10,108 8/31/07 10,124 10,151 9/30/07 10,155 10,211 10/31/07 10,189 10,254 11/30/07 10,223 10,308 12/31/07 10,253 10,368 1/31/08 10,315 10,536 2/29/08 10,291 10,453 3/31/08 10,340 10,569 4/30/08 10,337 10,575 5/31/08 10,354 10,617 6/30/08 10,340 10,596 7/31/08 10,389 10,690 8/31/08 10,450 10,756 9/30/08 10,346 10,664 10/31/08 10,371 10,692 11/30/08 10,479 10,788 12/31/08 10,574 10,848 1/31/09 10,720 10,966 2/28/09 10,696 10,973 3/31/09 10,733 11,022 4/30/09 10,776 11,074 5/31/09 10,763 11,106 6/30/09 10,750 11,109 7/31/09 10,865 11,190 8/31/09 10,875 11,193 9/30/09 10,946 11,272 10/31/09 10,880 11,267 11/30/09 10,994 11,332 12/31/09 10,988 11,341 1/31/10 11,020 11,367 2/28/10 11,055 11,397 3/31/10 10,995 11,373 4/30/10 11,047 11,414 5/31/10 11,084 11,454 6/30/10 11,111 11,482 7/31/10 11,205 11,543 8/31/10 11,253 11,577 9/30/10 11,226 11,570 10/31/10 11,222 11,570 11/30/10 11,161 11,524 12/31/10 11,119 11,491 1/31/11 11,130 11,518 2/28/11 11,155 11,557 3/31/11 11,195 11,589 4/30/11 11,233 11,615 5/31/11 11,293 11,663 6/30/11 11,309 11,698 7/31/11 11,347 11,735 8/31/11 11,399 11,764 9/30/11 11,382 11,760 10/31/11 11,342 11,746 11/30/11 11,363 11,762 12/31/11 11,417 11,794 1/31/12 11,450 11,822 2/29/12 11,473 11,849 3/31/12 11,456 11,842 4/30/12 11,470 11,853 5/31/12 11,483 11,861 6/30/12 11,487 11,874 7/31/12 11,512 11,894 8/31/12 11,523 11,900 9/30/12 11,525 11,906 10/31/12 11,525 11,910 11/30/12 11,535 11,922 12/31/12 11,525 11,903 1/31/13 11,536 11,933 2/28/13 11,542 11,955 3/31/13 11,554 11,957 4/30/13 11,564 11,963 5/31/13 11,551 11,959 6/30/13 11,515 11,932 7/31/13 11,536 11,966 8/31/13 11,521 11,957 9/30/13 11,563 11,965 10/31/13 11,605 11,987 11/30/13 11,602 11,998 12/31/13 11,600 11,997 1/31/14 11,634 12,016 2/28/14 11,660 12,041 3/31/14 11,613 12,025 4/30/14 11,644 12,045 5/31/14 11,675 12,069 6/30/14 11,671 12,078 Past performance is not predictive of 7/31/14 11,679 12,079 future performance. 8/31/14 11,720 12,090 The returns shown do not reflect the 9/30/14 11,705 12,094 deduction of taxes that a shareholder 10/31/14 11,724 12,097 would pay on fund distributions or the redemption of fund shares. Average Annual One Five Since The Merrill Lynch Indices are used with Total Return Year Years Inception permission; copyright 2014 Merrill ---------------------------------------------------------------- Lynch, Pierce, Fenner & Smith 1.02% 1.51% 2.12% Incorporated; all rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- DFA CALIFORNIA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO VS. S&P INTERMEDIATE TERM CALIFORNIA AMT-FREE MUNICIPAL BOND INDEX November 29, 2011-October 31, 2014 [CHART] DFA California Intermediate-Term S&P Intermediate Term California Municipal Bond Portfolio AMT-Free Municipal Bond Index ---------------------------------- ---------------------------------- 11/29/2011 10.000 10.000 11/30/2011 10.000 10.005 12/31/2011 10.155 10.197 1/31/2012 10.255 10.401 2/29/2012 10.226 10.408 3/31/2012 10.114 10.321 4/30/2012 10.216 10.424 5/31/2012 10.268 10.495 6/30/2012 10.262 10.480 7/31/2012 10.373 10.610 8/31/2012 10.366 10.628 9/30/2012 10.419 10.703 10/31/2012 10.421 10.718 11/30/2012 10.556 10.874 12/31/2012 10.441 10.745 1/31/2013 10.471 10.798 2/28/2013 10.491 10.839 3/31/2013 10.462 10.790 4/30/2013 10.546 10.881 5/31/2013 10.425 10.759 6/30/2013 10.213 10.505 7/31/2013 10.236 10.471 8/31/2013 10.145 10.388 9/30/2013 10.343 10.607 10/31/2013 10.430 10.699 11/30/2013 10.381 10.681 12/31/2013 10.365 10.663 1/31/2014 10.530 10.859 2/28/2014 10.618 10.984 3/31/2014 10.531 10.971 4/30/2014 10.681 11.094 5/31/2014 10.780 11.208 6/30/2014 10.776 11.204 7/31/2014 10.802 11.233 8/31/2014 10.922 11.349 Past performance is not predictive of 9/30/2014 10.875 11.352 future performance. 10/31/2014 10.932 11.399 The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Since would pay on fund distributions or the Total Return Year Inception redemption of fund shares. ---------------------------------------------------------- The S&P data are provided by Standard 4.82% 3.10% & Poor's Index Services Group. -------------------------------------------------------------------------------- 10 DFA INVESTMENT DIMENSIONS GROUP INC. MANAGEMENT'S DISCUSSION AND ANALYSIS (Unaudited) Fixed Income Market Review 12 Months Ended October 31, 2014 U.S. and developed international fixed income markets generally experienced flattening yield curves for the year ended October 31, 2014. In the case of the U.S. and U.K., while longer-term bond yields declined, most shorter-term bond yields increased slightly. The Eurozone saw a sharp decline in bond yields across the curve with the largest declines in longer-term bonds. On average, investment grade credit did well for the year, outperforming government bonds of similar duration. The one-month U.S. Treasury bill yield edged even lower during the period, while the yield on ten-year U.S. Treasury notes decreased to 2.34%. October 31, 2013 October 31, 2014 Change ---------------- ---------------- ------ One-Month Treasury Bill (yield)...... 0.03% 0.00% -0.03% Ten-Year U.S. Treasury Notes (yield). 2.56% 2.34% -0.22% ---------- 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, 2014, total returns were 0.07% for three-month U.S. Treasury bills, 1.18% for five-year U.S. Treasury notes, and 15.44% 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, credit spreads continued to narrow, and the portfolios employing the variable credit approach began to underweight the lower tier of investment grade credits. DFA One-Year Fixed Income Portfolio The DFA One-Year Fixed Income Portfolio is designed to achieve a stable real return in excess of the rate of inflation 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 favorable maturity ranges for 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 was unchanged at 351 days on October 31, 2014, from 351 days on October 31, 2013. For the 12 months ended October 31, 2014, the total return was 0.28% for the Portfolio, 0.14% for The BofA Merrill Lynch US 6-Month Treasury Bill Index, and 0.28% for The BofA Merrill Lynch 1-Year US Treasury Note Index. During the period, interest rates increased slightly in the long end of the eligible maturity range as two year U.S. Treasury bond yields went from approximately 0.30% to 0.49%. The yield curve remained upwardly sloped, even steepening slightly, causing the Portfolio's maturity structure to remain extended. While two-year rates did drift higher, the Portfolio benefitted from the position of the bonds on the yield curve. This helped to offset the negative impact of rising rates. The credit premium on the corporate securities also helped offset this negative effect. 11 DFA Two-Year Global Fixed Income Portfolio The DFA Two-Year Global Fixed Income Portfolio is designed to maximize risk-adjusted total returns consistent with the preservation of capital 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 countries in the Economic and Monetary Union of the European Union ("EMU"), 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 favorable maturity ranges for 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 decreased to 1.29 years on October 31, 2014, from 1.45 years on October 31, 2013. For the 12 months ended October 31, 2014, the total return was 0.51% for the Portfolio and 0.61% 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 64% of assets in U.S. dollar-denominated securities with the remaining 36% of assets in currency hedged non-U.S. dollar bonds. The Portfolio's lack of exposure to lower quality European government bonds, specifically those from Italy and Spain, detracted from the Portfolio's performance as compared to the Index as these two sovereign debt markets significantly outperformed. DFA Selectively Hedged Global Fixed Income Portfolio The DFA Selectively Hedged Global Fixed Income Portfolio is designed 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. The Portfolio 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 2.84 years on October 31, 2014, from 2.81 years on October 31, 2013. For the 12 months ended October 31, 2014, total returns were -0.72% for the Portfolio and -4.17% for the Citigroup World Government Bond Index, 1-3 Years, in U.S. Dollar Terms (unhedged). The Portfolio's outperformance relative to the index was primarily due to differences in currency exposure. Certain foreign yield curves exhibited higher interest rates than the U.S. yield curve throughout the year. The Portfolio was positioned to capture these higher rates with unhedged exposure during the entire fiscal year to the Australian dollar, Canadian dollar, New Zealand dollar, and Norwegian krone. The Portfolio had unhedged exposure to the Swedish krona and British pound sterling but only during portions of the period. All currencies in the index are unhedged. During the fiscal year most foreign currencies depreciated against the U.S. dollar, which was the driver of the absolute negative returns of both the Portfolio and the Index. Relative to the Index, the Portfolio benefited from its lack of exposure to euro and Japanese yen-denominated bonds during a period when both currencies depreciated significantly (8% and 12.7% respectively) versus the U.S. dollar. While the Portfolio held no euro or yen exposure, the Index had an average weight of 27% in euro and 19.5% in yen-denominated bonds. The Portfolio's U.S. dollar-denominated securities with ratings of single-A and BBB and maturities in the 3-5 year range also contributed to the Portfolio's outperformance relative to the Index as these securities outperformed. In comparison, the Index does not hold securities beyond 3 years. DFA Short-Term Government Portfolio The DFA Short-Term Government Portfolio is designed 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 investment strategy 12 shifts maturities based on changes in the yield curve. The strategy uses current yields and identifies favorable maturity ranges for 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 2.85 years on October 31, 2014, from 2.77 years on October 31, 2013. For the 12 months ended October 31, 2014, total returns were 0.83% for the Portfolio and 0.91% 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 lower average weight (10% vs. 20.5% for the Index) in the four- to five-year maturity range during a period when securities in this range had significantly outperformed the Index average return. DFA Five-Year Global Fixed Income Portfolio The DFA Five-Year Global Fixed Income Portfolio is designed to provide a market rate of return by investing in fixed income securities with low relative volatility of returns including 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 favorable maturity ranges for 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 decreased to 4.06 years on October 31, 2014, from 4.10 years on October 31, 2013. For the 12 months ended October 31, 2014, the total return was 1.90% for the Portfolio and 1.55% 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 79% of assets in U.S. dollar-denominated securities and the majority of the remainder invested in currency-hedged UK pound sterling-denominated bonds. The Portfolio's larger exposure to U.S. dollar-denominated bonds contributed to the Portfolio's relative outperformance as compared to the Index. The Portfolio also benefitted from its lack of exposure to Japanese yen-denominated bonds, which represented almost 21% of the benchmark, as those bonds underperformed the Portfolio's average return. The Portfolio had an average duration of 3.88 years on October 31, 2014, compared to 2.71 years for the Index. DFA World ex U.S. Government Fixed Income Portfolio The DFA World ex U.S. Government Fixed Income Portfolio is designed 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 average maturity of the Portfolio increased to 9.05 years on October 31, 2014, from 8.36 years on October 31, 2013. For the 12 months ended October 31, 2014, total returns were 7.93% for the Portfolio and 6.54% for the Citigroup World Government Bond Index ex USA, Currency-Hedged in U.S. Dollar Terms. The Portfolio's significantly lower average allocation to Japanese yen-denominated securities relative to the benchmark was a primary contributor to the Portfolio's relative outperformance as compared to the Index as these securities underperform. 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 outperform. Conversely, the Portfolio's overweight in France and the Netherlands added to the Portfolio's relative performance. The time of valuation of currency can create differences between the relative performance of the Portfolio and the Index. DFA Intermediate Government Fixed Income Portfolio The DFA Intermediate Government Fixed Income Portfolio is designed to provide current income consistent with the preservation of capital from investing generally in U.S. Treasury and government agency issues with maturities of between five and 15 years. The average maturity of the Portfolio increased to 6.24 years on October 31, 2014, from 5.67 years on October 31, 2013. 13 For the 12 months ended October 31, 2014, total returns were 3.00% for the Portfolio and 2.76% for the Barclays U.S. Government Bond Index. The Portfolio's relative outperformance was primarily due to the Portfolio's higher weight in U.S. government agency securities (and consequent lower weight in U.S. Treasury securities) relative to the benchmark as agency securities outperformed treasuries. DFA Short-Term Extended Quality Portfolio The DFA Short-Term Extended Quality Portfolio is designed 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 generally does 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 maturity and duration of three years or less. The Portfolio hedges substantially all of its foreign currency exposure. The average maturity of the Portfolio decreased to 2.89 years on October 31, 2014, from 2.91 years on October 31, 2013. For the 12 months ended October 31, 2014, total returns were 1.44% for the Portfolio and 1.32% for The BofA Merrill Lynch 1-5 Year U.S. Corporate & Government Index. The Portfolio outperformed the Index while maintaining a similar average maturity to the Index during the period. The Portfolio's average allocation throughout the fiscal year was approximately 77% of assets in U.S. and foreign corporate securities, 16% of assets in foreign government securities, 3% of assets in supranational securities, and 4% of assets in U.S. government and U.S. government agency securities. The Portfolio's higher average allocation to corporate securities relative to the Index, during a period of positive credit premiums, was a primary contributor to the Portfolio's relative outperformance as compared to the Index. The Portfolio was primarily invested in U.S. dollar-denominated securities throughout the year. As of October 31, 2014, U.S. dollar-denominated securities represented approximately 98% of the Portfolio, while currency-hedged UK pound sterling-denominated investments represented allocations of 2%. DFA Intermediate-Term Extended Quality Portfolio The DFA Intermediate-Term Extended Quality Portfolio is designed 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, except 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 an average portfolio duration between three to 10 years. The Portfolio hedges substantially all of its foreign currency exposure. The average maturity of the Portfolio increased to 8.14 years on October 31, 2014, from 7.82 years on October 31, 2013. For the 12 months ended October 31, 2014, total returns were 5.91% for the Portfolio and 6.24% for the Barclays U.S. Credit Index. While the Portfolio's duration approximated the duration of the Index, the Portfolio underperformed relative to the Index. The Portfolio's lack of exposure to securities with maturities greater than 15 years was the primary cause of the Portfolio's underperformance as long-term interest rates declined significantly in the period. Approximately 25% of the Barclays U.S. Credit Index consisted of government and corporate securities with maturities greater than fifteen years while the Portfolio generally does not invest beyond 15 years. The average return of securities in the Index beyond 15 years was over 13%. On the other hand, the Portfolio's relative underweight to securities with maturities less than 3 years made a positive contribution to the Portfolio's relative performance as short-term bonds underperformed the Portfolio's average return. Throughout the fiscal year, an average of 90% 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, 2014, U.S. dollar-denominated securities represented approximately 99% of the Portfolio with the remainder in currency-hedged euro and UK pound sterling denominated investments. 14 DFA Investment Grade Portfolio The DFA Investment Grade Portfolio is designed 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. During the 12 months ended October 31, 2014, the Advisor purchased 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 6.78 years on October 31, 2014, from 6.50 years on October 31, 2013. For the 12 months ended October 31, 2014, total returns were 4.29% for the Portfolio and 4.14% for the Barclays U.S. Aggregate Bond Index. The Portfolio's average allocation during the period was approximately 52% in corporate securities and 48% in the government securities. The Portfolio's performance relative to the Index was positively impacted by the Portfolio's lack of exposure to the securitized bond sector, which represented approximately 32% of the Index. Further contributing to the Portfolio's relative outperformance was the Portfolio's relative underweight to securities with maturities of three years or less. The Portfolio's lack of exposure to securities with maturities greater than 15 years detracted from the Portfolio's relative performance as long term interest rates declined significantly in the period. DFA Inflation-Protected Securities Portfolio The DFA Inflation-Protected Securities Portfolio is designed to provide inflation protection and current income by 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 average maturity of the Portfolio decreased to 8.46 years on October 31, 2014, from 8.49 years on October 31, 2013. For the 12 months ended October 31, 2014, total returns were 1.38% for the Portfolio and 1.90% for the Barclays U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L). The Portfolio's relative underperformance was primarily due to structural differences with the Index. The Portfolio's lack of exposure to TIPS in the 20- to 30-year maturity range, which outperformed short- and intermediate-term securities during this period of curve flattening, detracted from performance of the Portfolio as compared to the Index. DFA Short-Duration Real Return Portfolio The DFA Short-Duration Real Return Portfolio is designed to seek inflation protection and maximize total returns. The strategy pursues its investment objective by investing in a combination of investment grade debt securities and inflation-protected securities that mature within five years from the date of settlement as well as derivative instruments such as inflation swaps. The Portfolio maintains an average portfolio duration of three years or less. The average duration of the Portfolio was 2.91 years on October 31, 2014. From the Portfolio's inception on November 5, 2013, through October 31, 2014, total returns were 0.20% for the Portfolio and 0.19% for the Barclays U.S. TIPS Index 1-5 Years. The Portfolio benefitted from its approximately 74% average allocation to U.S. and foreign corporate debt securities. The Portfolio's index contains only securities issued by the U.S. Treasury. Partially offsetting this was the negative impact of the Portfolio's longer duration relative to the index during a period where short term real yields rose. DFA Short-Term Municipal Bond Portfolio The DFA Short-Term Municipal Bond Portfolio is designed to provide current income exempt from federal personal income tax and to preserve investors' principal by investing in high-quality municipal securities. The average maturity of the Portfolio increased to 2.95 years on October 31, 2014, from 1.65 years on October 31, 2013. For the 12 months ended October 31, 2014, total returns were 0.87% for the Portfolio and 0.90% for The BofA Merrill Lynch 1-3 Year U.S. Municipal Securities Index. The Portfolio emphasized 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, 2014, the underweight in A-rated bonds in particular detracted from the Portfolio's performance relative to the Index as these lower-rated municipal 15 securities outperformed the Portfolio's average return. Contributing positively to the Portfolio's relative performance was the Portfolio's higher allocation to securities with maturities greater than three years during a period where longer maturity municipal interest rates fell. DFA Intermediate-Term Municipal Bond Portfolio The DFA Intermediate-Term Municipal Bond Portfolio is designed to provide current income exempt from federal personal income tax by investing in high-quality municipal securities. The effective duration of the Portfolio decreased to 5.12 years on October 31, 2014, from 6.03 years on October 31, 2013. For the 12 months ended October 31, 2014, total returns were 4.34% for the Portfolio and 5.47% 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 relative underperformance during a period of falling longer-term municipal interest rates. DFA California Short-Term Municipal Bond Portfolio The DFA California Short-Term Municipal Bond Portfolio is designed to provide current income that is exempt from federal personal income taxes and California state personal income taxes by investing in municipal securities. The average maturity of the Portfolio increased to 2.70 years on October 31, 2014, from 2.11 years on October 31, 2013. For the 12 months ended October 31, 2014, total returns were 1.02% for the Portfolio and 0.91% for The BofA Merrill Lynch 1-3 Year California including Puerto Rico Municipal Securities Index. The Portfolio's higher allocation to securities with maturities greater than three years made a positive contribution to the Portfolio's performance relative to the Index as these securities outperformed the Index average return. DFA California Intermediate-Term Municipal Bond Portfolio The DFA California Intermediate-Term Municipal Bond Portfolio is designed to provide current income that is exempt from federal personal income taxes and California state personal income taxes by investing in municipal securities. The effective duration of the Portfolio decreased to 5.18 years on October 31, 2014, from 5.21 years on October 31, 2013. For the 12 months ended October 31, 2014, total returns were 4.82% for the Portfolio and 6.54% 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 26% average weight in these securities contributed to the Portfolio's relative underperformance during a period of falling 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, 2014 EXPENSE TABLES Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- DFA One-Year Fixed Income Portfolio ----------------------------------- Actual Fund Return Institutional Class Shares......... $1,000.00 $1,001.50 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 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- DFA Two-Year Global Fixed Income Portfolio ------------------------------------------ Actual Fund Return Institutional Class Shares.......................... $1,000.00 $1,002.40 0.17% $0.86 Hypothetical 5% Annual Return Institutional Class Shares.......................... $1,000.00 $1,024.35 0.17% $0.87 DFA Selectively Hedged Global Fixed Income Portfolio ---------------------------------------------------- Actual Fund Return Institutional Class Shares.......................... $1,000.00 $ 980.40 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 $1,005.60 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 $1,012.50 0.27% $1.37 Hypothetical 5% Annual Return Institutional Class Shares.......................... $1,000.00 $1,023.84 0.27% $1.38 DFA World ex U.S. Government Fixed Income Portfolio --------------------------------------------------- Actual Fund Return Institutional Class Shares.......................... $1,000.00 $1,055.40 0.20% $1.04 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 $1,019.30 0.12% $0.61 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 $1,007.20 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 $1,028.20 0.22% $1.12 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 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- DFA Investment Grade Portfolio** -------------------------------- Actual Fund Return Institutional Class Shares............................... $1,000.00 $1,022.50 0.22% $1.12 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 $1,010.20 0.12% $0.61 Hypothetical 5% Annual Return Institutional Class Shares............................... $1,000.00 $1,024.60 0.12% $0.61 DFA Short-Duration Real Return Portfolio ---------------------------------------- Actual Fund Return Institutional Class Shares............................... $1,000.00 $ 996.00 0.24% $1.21 Hypothetical 5% Annual Return Institutional Class Shares............................... $1,000.00 $1,024.00 0.24% $1.22 DFA Short-Term Municipal Bond Portfolio --------------------------------------- Actual Fund Return Institutional Class Shares............................... $1,000.00 $1,006.40 0.22% $1.11 Hypothetical 5% Annual Return Institutional Class Shares............................... $1,000.00 $1,024.10 0.22% $1.12 DFA Intermediate-Term Municipal Bond Portfolio ---------------------------------------------- Actual Fund Return Institutional Class Shares............................... $1,000.00 $1,022.30 0.23% $1.17 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 $1,006.90 0.22% $1.11 Hypothetical 5% Annual Return Institutional Class Shares............................... $1,000.00 $1,024.10 0.22% $1.12 DFA California Intermediate-Term Municipal Bond Portfolio --------------------------------------------------------- Actual Fund Return Institutional Class Shares............................... $1,000.00 $1,023.50 0.23% $1.17 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 29, 2014. 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.................................... 11.7% Government................................... 25.0% Foreign Corporate............................ 26.3% Foreign Government........................... 26.9% Supranational................................ 10.1% ----- 100.0% DFA Two-Year Global Fixed Income Portfolio Corporate.................................... 3.4% Government................................... 19.9% Foreign Corporate............................ 22.2% Foreign Government........................... 37.1% Supranational................................ 17.4% ----- 100.0% DFA Selectively Hedged Global Fixed Income Portfolio Corporate.................................... 52.1% Government................................... 4.5% Foreign Corporate............................ 21.4% Foreign Government........................... 18.2% Supranational................................ 3.8% ----- 100.0% DFA Short-Term Government Portfolio Government................................... 100.0% ----- 100.0% DFA Five-Year Global Fixed Income Portfolio Corporate.................................... 25.9% Government................................... 2.8% Foreign Corporate............................ 29.8% Foreign Government........................... 33.3% Supranational................................ 8.2% ----- 100.0% DFA World ex U.S. Government Fixed Income Portfolio Government................................... 2.1% Foreign Government........................... 88.7% Supranational................................ 9.2% ----- 100.0% DFA Intermediate Government Fixed Income Portfolio Government................................... 100.0% ----- 100.0% DFA Short-Term Extended Quality Portfolio Corporate.................................... 57.8% Government................................... 3.0% Foreign Corporate............................ 20.3% Foreign Government........................... 15.8% Supranational................................ 3.1% ----- 100.0% DFA Intermediate-Term Extended Quality Portfolio Corporate.................................... 76.7% Government................................... 4.3% Foreign Corporate............................ 15.9% Foreign Government........................... 2.0% Supranational................................ 1.1% ----- 100.0% 20 DISCLOSURE OF PORTFOLIO HOLDINGS CONTINUED DFA Inflation-Protected Securities Portfolio Government................................... 100.0% ----- 100.0% DFA Short-Duration Real Return Portfolio Corporate.................................... 55.5% Government................................... 8.5% Foreign Corporate............................ 21.1% Foreign Government........................... 11.4% Supranational................................ 3.5% ----- 100.0% DFA Short-Term Municipal Bond Portfolio Muni Insured................................. 1.9% Muni G.O. Local.............................. 47.8% Muni G.O. State.............................. 27.6% Muni Revenue................................. 21.9% Muni Pre-Refunded............................ 0.8% ----- 100.0% DFA Intermediate-Term Municipal Bond Portfolio Muni Insured................................. 1.7% Muni G.O. Local.............................. 53.8% Muni G.O. State.............................. 24.9% Muni Revenue................................. 19.6% ----- 100.0% DFA California Short-Term Municipal Bond Portfolio Muni Insured................................. 4.5% Muni G.O. Local.............................. 33.9% Muni G.O. State.............................. 19.9% Muni Revenue................................. 36.1% Muni Pre-Refunded............................ 5.6% ----- 100.0% DFA California Intermediate-Term Municipal Bond Portfolio Muni Insured................................. 13.2% Muni G.O. Local.............................. 43.0% Muni G.O. State.............................. 19.9% Muni Revenue................................. 21.4% Muni Pre-Refunded............................ 2.5% ----- 100.0% 21 DFA ONE-YEAR FIXED INCOME PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Face Amount Value+ ------ ------ (000) AGENCY OBLIGATIONS -- (8.1%) Federal Home Loan Bank 5.375%, 05/18/16............................. $ 35,000 $ 37,668,435 2.125%, 06/10/16............................. 70,000 71,808,660 2.000%, 09/09/16............................. 121,970 125,123,412 0.500%, 09/28/16............................. 45,000 44,917,200 0.625%, 10/14/16............................. 15,000 15,012,225 0.500%, 10/17/16............................. 10,000 9,972,510 Federal Home Loan Mortgage Corporation 0.500%, 05/13/16............................. 50,000 50,077,350 Federal National Mortgage Association 0.500%, 09/28/15............................. 20,000 20,063,920 4.375%, 10/15/15............................. 145,000 150,747,655 1.625%, 10/26/15............................. 110,000 111,497,210 0.375%, 07/05/16............................. 23,500 23,455,115 0.625%, 08/26/16............................. 30,000 30,036,540 ------------ TOTAL AGENCY OBLIGATIONS.......................... 690,380,232 ------------ BONDS -- (64.5%) 3M Co. 1.375%, 09/29/16............................. 9,783 9,923,934 African Development Bank 2.500%, 03/15/16............................. 3,800 3,908,448 Agence Francaise de Developpement 1.125%, 10/03/16............................. 14,600 14,711,953 ANZ New Zealand Int'l, Ltd. 3.125%, 08/10/15............................. 85,505 87,148,577 Apple, Inc. # 0.450%, 05/03/16............................. 24,082 24,070,850 Apple, Inc. Floating Rate Note (r) 0.282%, 05/03/16............................. 19,055 19,055,000 Asian Development Bank 7.500%, 06/15/15............................. 15,000 15,605,010 2.500%, 03/15/16............................. 23,131 23,794,374 Australia & New Zealand Banking Group, Ltd. 3.700%, 01/13/15............................. 74,544 75,016,013 0.900%, 02/12/16............................. 32,000 32,145,024 Bank Nederlandse Gemeenten 1.000%, 11/17/14............................. 89,400 89,426,284 2.750%, 07/01/15............................. 49,500 50,321,700 Bank Nederlandse Gemeenten NV 3.125%, 01/12/15............................. 26,000 26,143,000 2.500%, 01/11/16............................. 33,500 34,344,267 1.125%, 09/12/16............................. 26,750 26,976,573 Bank of Montreal 1.300%, 07/15/16............................. 17,070 17,238,959 Bank of Montreal Floating Rate Note (r) 0.751%, 07/15/16............................. 125,051 125,756,663 Face Amount Value+ ------ ------ (000) Bank of New York Mellon Corp. (The) 3.100%, 01/15/15............................. $43,900 $44,136,358 # 2.950%, 06/18/15............................. 9,975 10,137,124 Bank of Nova Scotia (The) # 1.375%, 07/15/16............................. 19,083 19,262,037 Bank of Nova Scotia (The) Floating Rate Note (r) 0.751%, 07/15/16............................. 59,486 59,801,633 Belgium Government International Bond 2.750%, 03/05/15............................. 10,000 10,084,260 Berkshire Hathaway, Inc. # 3.200%, 02/11/15............................. 5,094 5,133,728 British Columbia, Province of Canada 2.850%, 06/15/15............................. 59,457 60,423,176 Canadian Imperial Bank of Commerce 0.403%, 10/28/16............................. 25,000 24,990,025 Canadian Imperial Bank of Commerce Floating Rate Note (r) 0.751%, 07/18/16............................. 5,000 5,028,365 Commonwealth Bank of Australia 3.500%, 03/19/15............................. 25,589 25,865,566 # 1.250%, 09/18/15............................. 21,140 21,299,840 Cooperatieve Centrale Raiffeisen-Boerenleenbank BA 0.600%, 04/29/15............................. 80,500 80,540,008 2.125%, 10/13/15............................. 63,168 64,183,868 Cooperatieve Centrale Raiffeisen-Boerenleenbank BA Floating Rate Note (r) 0.714%, 03/18/16............................. 30,977 31,117,295 Council Of Europe Development Bank 1.375%, 03/22/16............................. 43,496 44,069,712 # 1.250%, 09/22/16............................. 19,250 19,474,609 DBS Bank, Ltd. 2.375%, 09/14/15............................. 11,700 11,885,597 Development Bank of Japan, Inc. 2.875%, 04/20/15............................. 24,500 24,795,715 2.750%, 03/15/16............................. 8,600 8,868,088 1.625%, 10/05/16............................. 9,000 9,164,700 EUROFIMA 4.500%, 03/06/15............................. 85,230 86,453,903 European Bank for Reconstruction & Development 1.625%, 09/03/15............................. 35,000 35,412,510 2.500%, 03/15/16............................. 10,000 10,295,320 1.375%, 10/20/16............................. 24,500 24,870,220 22 DFA ONE-YEAR FIXED INCOME PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) European Investment Bank # 4.875%, 02/16/16............................. $ 57,000 $ 60,300,642 2.250%, 03/15/16............................. 52,000 53,300,988 # 0.625%, 04/15/16............................. 56,000 56,160,832 2.125%, 07/15/16............................. 64,500 66,238,146 # 0.500%, 08/15/16............................. 24,000 23,986,632 FMS Wertmanagement AoeR 0.625%, 04/18/16............................. 140,040 140,331,423 General Electric Capital Corp. 3.500%, 06/29/15............................. 14,732 15,037,262 2.375%, 06/30/15............................. 21,425 21,700,376 # 1.625%, 07/02/15............................. 31,740 32,016,106 # 2.250%, 11/09/15............................. 35,187 35,839,191 # 1.000%, 01/08/16............................. 76,297 76,688,480 # 5.000%, 01/08/16............................. 5,000 5,250,430 2.950%, 05/09/16............................. 10,000 10,327,100 1.500%, 07/12/16............................. 22,391 22,690,233 General Electric Co. 0.850%, 10/09/15............................. 38,450 38,627,485 Hydro-Quebec 2.000%, 06/30/16............................. 5,000 5,115,370 Inter-American Development Bank 5.125%, 09/13/16............................. 102,500 110,955,840 International Bank for Reconstruction & Development 0.375%, 11/16/15............................. 75,000 75,075,450 2.125%, 03/15/16............................. 48,500 49,644,988 0.625%, 10/14/16............................. 16,500 16,508,811 International Business Machines Corp. Floating Rate Note (r) 0.302%, 02/05/16............................. 60,052 60,074,459 Japan Bank for International Cooperation 2.500%, 01/21/16............................. 52,000 53,337,336 2.500%, 01/21/16............................. 30,000 30,770,010 2.250%, 07/13/16............................. 3,850 3,959,259 Japan Finance Organization for Municipalities 4.625%, 04/21/15............................. 35,200 35,915,194 KFW # 0.500%, 09/30/15............................. 30,000 30,077,430 # 2.625%, 02/16/16............................. 81,500 83,931,063 2.000%, 06/01/16............................. 60,000 61,438,200 0.500%, 07/15/16............................. 19,000 18,995,098 1.250%, 10/05/16............................. 42,000 42,515,466 Kommunalbanken A.S. 0.375%, 04/10/15............................. 15,000 15,008,940 2.750%, 05/05/15............................. 9,550 9,671,763 2.375%, 01/19/16............................. 91,300 93,458,880 0.500%, 03/29/16............................. 20,400 20,401,632 0.875%, 10/03/16............................. 10,000 10,041,540 Kommunekredit 0.875%, 07/29/16............................. 25,000 25,128,150 Kommuninvest I Sverige AB 0.500%, 06/15/16............................. 38,190 38,183,279 Face Amount Value+ ------ ------ (000) Landwirtschaftliche Rentenbank 3.125%, 07/15/15............................. $ 15,734 $ 16,053,274 2.125%, 07/15/16............................. 12,300 12,627,069 Manitoba, Province of Canada 2.625%, 07/15/15............................. 28,674 29,146,834 Merck & Co., Inc. Floating Rate Note (r) 0.421%, 05/18/16............................. 12,313 12,339,091 Microsoft Corp. 1.625%, 09/25/15............................. 25,917 26,209,733 Municipality Finance P.L.C. 1.250%, 09/12/16............................. 29,000 29,323,350 National Australia Bank, Ltd. # 3.750%, 03/02/15............................. 26,150 26,433,649 2.000%, 03/09/15............................. 91,410 91,953,889 1.600%, 08/07/15............................. 25,062 25,300,340 2.750%, 09/28/15............................. 10,000 10,191,430 # 0.900%, 01/20/16............................. 47,635 47,794,577 1.300%, 07/25/16............................. 5,400 5,448,751 National Australia Bank, Ltd. Floating Rate Note (r) 0.784%, 07/25/16............................. 43,225 43,479,682 Nederlandse Waterschapsbank NV 3.000%, 03/17/15............................. 36,212 36,582,304 0.750%, 03/29/16............................. 82,900 83,198,440 # 2.125%, 06/16/16............................. 39,149 40,129,408 Netherlands Government Bond 0.250%, 09/12/15............................. 15,000 14,997,150 Nordic Investment Bank 2.500%, 07/15/15............................. 3,100 3,149,507 2.250%, 03/15/16............................. 21,000 21,519,540 0.500%, 04/14/16............................. 44,500 44,535,288 NRW Bank 1.250%, 05/15/15............................. 69,000 69,353,280 NRW Bank Floating Rate Note (r) 0.554%, 12/01/14............................. 24,000 24,006,960 Oesterreichische Kontrollbank AG # 1.125%, 07/06/15............................. 136,155 136,931,083 1.750%, 10/05/15............................. 14,489 14,686,659 4.875%, 02/16/16............................. 9,407 9,935,401 Ontario, Province of Canada 4.500%, 02/03/15............................. 28,900 29,203,450 0.950%, 05/26/15............................. 43,000 43,179,869 2.700%, 06/16/15............................. 52,000 52,788,320 4.750%, 01/19/16............................. 20,000 21,050,320 2.300%, 05/10/16............................. 27,100 27,799,478 1.000%, 07/22/16............................. 19,000 19,087,001 # 1.600%, 09/21/16............................. 58,100 59,035,294 Quebec, Province of Canada 4.600%, 05/26/15............................. 16,399 16,797,233 Royal Bank of Canada 0.800%, 10/30/15............................. 68,277 68,555,638 # 2.625%, 12/15/15............................. 4,995 5,109,575 0.850%, 03/08/16............................. 19,300 19,334,837 2.300%, 07/20/16............................. 1,530 1,570,669 23 DFA ONE-YEAR FIXED INCOME PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) Royal Bank of Canada Floating Rate Note (r) 0.455%, 12/16/15............................. $ 27,500 $ 27,543,038 #(r) 0.603%, 03/08/16............................. 50,000 50,147,500 (r) 0.692%, 09/09/16............................. 45,680 45,899,355 Svensk Exportkredit AB 0.625%, 09/04/15............................. 80,500 80,736,267 1.750%, 10/20/15............................. 118,058 119,731,354 # 0.625%, 05/31/16............................. 10,000 10,014,070 # 2.125%, 07/13/16............................. 4,000 4,103,600 Svenska Handelsbanken AB 3.125%, 07/12/16............................. 26,180 27,192,224 Svenska Handelsbanken AB Floating Rate Note #(r) 0.683%, 03/21/16............................. 74,010 74,319,510 (r) 0.703%, 09/23/16............................. 25,877 26,003,616 Toronto-Dominion Bank (The) Floating Rate Note (r) 0.417%, 05/01/15............................. 75,360 75,430,160 (r) 0.437%, 11/06/15............................. 55,000 55,060,555 (r) 0.400%, 07/13/16............................. 100,000 99,999,600 (r) 0.692%, 09/09/16............................. 24,945 25,069,351 Total Capital Canada, Ltd. Floating Rate Note (r) 0.611%, 01/15/16............................. 37,856 37,996,484 Total Capital International SA 0.750%, 01/25/16............................. 3,000 3,006,522 Total Capital SA # 3.000%, 06/24/15............................. 10,000 10,175,700 Toyota Motor Credit Corp. # 1.250%, 11/17/14............................. 34,095 34,105,194 # 1.000%, 02/17/15............................. 84,340 84,516,271 0.875%, 07/17/15............................. 20,090 20,168,431 # 2.800%, 01/11/16............................. 11,100 11,395,304 Toyota Motor Credit Corp. Floating Rate Note (r) 0.404%, 12/05/14............................. 16,200 16,203,483 (r) 0.383%, 04/08/15............................. 39,500 39,528,677 (r) 0.384%, 09/18/15............................. 9,650 9,661,107 (r) 0.521%, 05/17/16............................. 7,700 7,717,733 (r) 0.333%, 09/23/16............................. 30,000 29,966,160 US Bancorp # 2.875%, 11/20/14............................. 23,400 23,426,348 Wal-Mart Stores, Inc. 1.500%, 10/25/15............................. 30,674 31,027,733 # 2.800%, 04/15/16............................. 4,000 4,130,996 Westpac Banking Corp. 3.000%, 08/04/15............................. 71,992 73,403,835 1.125%, 09/25/15............................. 14,913 15,007,623 3.000%, 12/09/15............................. 4,516 4,634,486 0.950%, 01/12/16............................. 141,072 142,105,493 -------------- TOTAL BONDS........................................ 5,519,849,923 -------------- U.S. TREASURY OBLIGATIONS -- (15.7%) U.S. Treasury Notes 2.125%, 12/31/15............................. 195,000 199,326,660 0.375%, 01/15/16............................. 60,000 60,107,820 Face Amount Value+ ------ ------ (000) 0.375%, 01/31/16............................. $ 75,000 $ 75,158,175 2.000%, 01/31/16............................. 50,000 51,109,400 0.375%, 02/15/16............................. 73,800 73,949,888 0.375%, 03/31/16............................. 20,000 20,023,440 0.250%, 04/15/16............................. 25,000 24,982,425 0.375%, 04/30/16............................. 75,000 75,064,425 1.500%, 06/30/16............................. 175,000 178,185,525 0.625%, 07/15/16............................. 20,000 20,078,120 1.500%, 07/31/16............................. 235,000 239,406,250 0.625%, 08/15/16............................. 130,000 130,446,940 0.875%, 09/15/16............................. 50,000 50,382,800 1.000%, 09/30/16............................. 40,000 40,384,360 1.000%, 10/31/16............................. 100,000 100,953,100 -------------- TOTAL U.S. TREASURY OBLIGATIONS.................. 1,339,559,328 -------------- COMMERCIAL PAPER -- (9.7%) Australia & New Zealand Banking Group, Ltd. 0.483%, 01/29/15............................. 60,000 60,045,900 Bank of Nova Scotia (The) 0.365%, 02/22/16............................. 3,300 3,299,145 Banque et Caisse d'Epargne de l'Etat 0.160%, 11/06/14............................. 40,000 39,999,600 Basin Electric Power Cooperative ## 0.140%, 01/08/15............................. 14,100 14,095,244 ## 0.140%, 01/12/15............................. 6,800 6,797,532 Caisse des Depots et Consignations ## 0.130%, 12/17/14............................. 75,000 74,985,998 ## 0.140%, 12/19/14............................. 5,000 4,999,013 0.150%, 12/19/14............................. 30,000 29,994,078 0.195%, 12/19/14............................. 25,000 24,995,065 Cooperatieve Centrale Raiffeisen- Boerenleenbank BA 0.716%, 05/06/16............................. 68,100 67,836,862 DBS Bank, Ltd. ## 0.230%, 01/15/15............................. 75,000 74,976,090 Nordea Bank Finland P.L.C. 0.343%, 11/09/15............................. 21,000 21,012,684 0.421%, 01/21/16............................. 72,500 72,495,360 0.414%, 06/13/16............................. 50,000 49,983,900 NRW Bank ## 0.115%, 12/17/14............................. 65,000 64,989,561 Old Line Funding LLC ## 0.150%, 01/07/15............................. 5,700 5,698,223 ## 0.150%, 01/14/15............................. 30,000 29,989,374 Royal Bank of Canada 0.583%, 06/21/16............................. 33,250 33,305,893 Standard Chartered Bank ## 0.170%, 01/20/15............................. 20,000 19,992,170 Svenska Handelsbanken AB 0.519%, 01/16/15............................. 83,500 83,558,951 24 DFA ONE-YEAR FIXED INCOME PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) United Overseas Bank, Ltd. ## 0.190%, 12/10/14............................. $50,000 $ 49,993,720 ------------ TOTAL COMMERCIAL PAPER........................... 833,044,363 ------------ Shares Value+ ------ ------ TEMPORARY CASH INVESTMENTS -- (1.0%) State Street Institutional Liquid Reserves, 0.077%...................................... 88,348,593 $ 88,348,593 -------------- SECURITIES LENDING COLLATERAL -- (1.0%) (S)@ DFA Short Term Investment Fund............... 7,308,980 84,564,895 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $8,549,703,417)............................ $8,555,747,334 ============== Summary of the Portfolio's investments as of October 31, 2014, 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............ -- $ 690,380,232 -- $ 690,380,232 Bonds......................... -- 5,519,849,923 -- 5,519,849,923 U.S. Treasury Obligations..... -- 1,339,559,328 -- 1,339,559,328 Commercial Paper.............. -- 833,044,363 -- 833,044,363 Temporary Cash Investments.... $88,348,593 -- -- 88,348,593 Securities Lending Collateral. -- 84,564,895 -- 84,564,895 ----------- -------------- -- -------------- TOTAL......................... $88,348,593 $8,467,398,741 -- $8,555,747,334 =========== ============== == ============== See accompanying Notes to Financial Statements. 25 DFA TWO-YEAR GLOBAL FIXED INCOME PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Face Amount^ Value+ - ------- ------ (000) BONDS -- (77.6%) AUSTRALIA -- (8.2%) Australia & New Zealand Banking Group, Ltd. 3.700%, 01/13/15............................. 20,200 20,327,906 0.900%, 02/12/16............................. 68,875 69,187,142 Commonwealth Bank of Australia 3.500%, 03/19/15............................. 53,000 53,572,824 3.875%, 12/14/15............................. GBP 33,895 55,962,154 National Australia Bank, Ltd. 3.500%, 01/23/15............................. EUR 105,456 133,104,222 3.750%, 03/02/15............................. 13,374 13,519,068 # 0.900%, 01/20/16............................. 6,500 6,521,775 1.300%, 07/25/16............................. 17,800 17,960,698 Westpac Banking Corp. 3.750%, 12/01/14............................. CAD 113,551 100,910,826 3.000%, 08/04/15............................. 3,741 3,814,365 # 1.125%, 09/25/15............................. 11,407 11,479,377 6.500%, 11/09/15............................. AUD 10,000 9,105,164 3.000%, 12/09/15............................. 21,010 21,561,239 ----------- TOTAL AUSTRALIA.................................. 517,026,760 ----------- AUSTRIA -- (0.5%) Austria Government International Bond 1.750%, 06/17/16............................. 11,270 11,498,218 Oesterreichische Kontrollbank AG 4.875%, 02/16/16............................. 16,000 16,898,736 2.000%, 06/03/16............................. 2,535 2,594,638 ----------- TOTAL AUSTRIA.................................... 30,991,592 ----------- CANADA -- (9.0%) Bank of Nova Scotia (The) 3.350%, 11/18/14............................. CAD 17,500 15,536,733 0.950%, 03/15/16............................. 10,700 10,746,149 # 2.900%, 03/29/16............................. 13,505 13,912,176 # 1.375%, 07/15/16............................. 25,700 25,941,117 British Columbia, Province of Canada 2.100%, 05/18/16............................. 42,045 43,089,314 Export Development Canada 3.625%, 09/07/15............................. GBP 14,827 24,316,568 1.250%, 10/26/16............................. 8,000 8,091,648 Ontario, Province of Canada 1.875%, 09/15/15............................. 64,525 65,394,926 # 2.300%, 05/10/16............................. 37,730 38,703,849 1.000%, 07/22/16............................. 43,240 43,437,996 # 1.600%, 09/21/16............................. 33,180 33,714,132 Royal Bank of Canada 2.050%, 01/13/15............................. CAD 18,000 15,993,416 3.360%, 01/11/16............................. CAD 139,500 126,345,251 Face Amount^ Value+ - ------- ------ (000) CANADA -- (Continued) 2.300%, 07/20/16............................. 7,000 7,186,067 3.030%, 07/26/16............................. CAD 24,000 21,791,118 1.450%, 09/09/16............................. 7,450 7,523,234 Toronto-Dominion Bank (The) # 2.500%, 07/14/16............................. 35,868 36,920,295 2.948%, 08/02/16............................. CAD 15,000 13,604,277 2.375%, 10/19/16............................. 12,100 12,479,008 ----------- TOTAL CANADA................................................ 564,727,274 ----------- DENMARK -- (0.9%) Denmark Government International Bond 0.375%, 04/25/16............................. 49,000 48,962,564 Kommunekredit 0.875%, 07/29/16............................. 7,300 7,337,420 ----------- TOTAL DENMARK............................................... 56,299,984 ----------- FINLAND -- (1.0%) Finland Government International Bond 2.250%, 03/17/16............................. 5,000 5,125,470 Municipality Finance P.L.C. 2.375%, 05/16/16............................. 26,500 27,252,176 1.250%, 09/12/16............................. 28,500 28,817,775 Pohjola Bank Oyj 3.125%, 01/12/16............................. EUR 2,118 2,745,433 ----------- TOTAL FINLAND............................................... 63,940,854 ----------- FRANCE -- (2.1%) Agence Francaise de Developpement 1.125%, 10/03/16............................. 5,000 5,038,340 Reseau Ferre de France 2.375%, 12/23/15............................. GBP 77,254 125,847,311 Total Capital SA 2.300%, 03/15/16............................. 2,987 3,054,443 ----------- TOTAL FRANCE................................................ 133,940,094 ----------- GERMANY -- (7.5%) FMS Wertmanagement AoeR 0.625%, 04/18/16............................. 116,800 117,043,061 KFW 5.500%, 12/07/15............................. GBP 76,000 127,920,655 1.750%, 01/22/16............................. GBP 22,000 35,637,552 # 0.500%, 07/15/16............................. 6,000 5,998,452 1.250%, 10/05/16............................. 5,000 5,061,365 26 DFA TWO-YEAR GLOBAL FIXED INCOME PORTFOLIO CONTINUED Face Amount^ Value+ - ------- ------ (000) GERMANY -- (Continued) Landeskreditbank Baden- Wuerttemberg Foerderbank 1.500%, 12/07/15............................. GBP 12,500 $ 20,159,626 0.500%, 06/01/16............................. 157,800 157,762,128 ------------ TOTAL GERMANY.................................... 469,582,839 ------------ IRELAND -- (1.1%) GE Capital European Funding 2.875%, 09/17/15............................. EUR 46,195 59,228,711 GE Capital UK Funding 4.625%, 01/18/16............................. GBP 4,000 6,662,817 ------------ TOTAL IRELAND.................................... 65,891,528 ------------ JAPAN -- (2.9%) Development Bank of Japan, Inc. 2.750%, 03/15/16............................. 8,000 8,249,384 Japan Bank for International Cooperation 1.875%, 09/24/15............................. 52,600 53,333,244 2.500%, 01/21/16............................. 97,400 99,904,933 5.250%, 03/23/16............................. 18,000 19,174,320 ------------ TOTAL JAPAN...................................... 180,661,881 ------------ NETHERLANDS -- (7.9%) Bank Nederlandse Gemeenten NV 2.375%, 12/23/15............................. GBP 39,553 64,447,301 2.500%, 01/11/16............................. 52,000 53,310,504 5.250%, 02/26/16............................. GBP 5,814 9,835,131 0.625%, 07/18/16............................. 14,900 14,905,960 1.125%, 09/12/16............................. 31,600 31,867,652 Cooperatieve Centrale Raiffeisen- Boerenleenbank BA 4.000%, 09/10/15............................. GBP 30,773 50,488,795 2.125%, 10/13/15............................. 80,000 81,286,560 3.375%, 01/18/16............................. EUR 13,500 17,557,449 5.500%, 02/03/16............................. AUD 8,824 7,972,190 Nederlandse Waterschapsbank NV 2.000%, 09/09/15............................. 18,105 18,364,952 5.625%, 11/17/15............................. GBP 7,340 12,327,131 5.625%, 11/17/15............................. GBP 4,906 8,239,360 0.750%, 03/29/16............................. 68,900 69,148,040 2.125%, 06/16/16............................. 44,500 45,614,413 2.125%, 09/07/16............................. GBP 1,687 2,755,988 Netherlands Government Bond 0.250%, 09/12/15............................. 10,824 10,821,943 ------------ TOTAL NETHERLANDS................................ 498,943,369 ------------ Face Amount^ Value+ - ------- ------ (000) NEW ZEALAND -- (0.7%) ANZ New Zealand Int'l, Ltd. 3.125%, 08/10/15............................. 31,890 $ 32,502,990 1.125%, 03/24/16............................. 10,245 10,300,446 ------------ TOTAL NEW ZEALAND................................ 42,803,436 ------------ NORWAY -- (2.6%) Kommunalbanken A.S. 1.375%, 12/23/15............................. GBP 5,000 8,057,052 2.375%, 01/19/16............................. 62,500 63,977,875 0.500%, 03/29/16............................. 94,000 94,007,520 ------------ TOTAL NORWAY..................................... 166,042,447 ------------ SINGAPORE -- (0.4%) DBS Bank, Ltd. 2.375%, 09/14/15............................. 26,200 26,615,611 ------------ SUPRANATIONAL ORGANIZATION OBLIGATIONS -- (16.9%) African Development Bank 2.500%, 03/15/16............................. 38,000 39,084,482 1.250%, 09/02/16............................. 5,000 5,060,270 0.750%, 10/18/16............................. 5,600 5,611,872 Asian Development Bank 2.500%, 03/15/16............................. 68,693 70,663,047 # 0.500%, 06/20/16............................. 8,000 8,001,920 5.500%, 06/27/16............................. 47,011 50,851,188 Council Of Europe Development Bank 1.625%, 12/07/15............................. GBP 28,000 45,237,739 1.250%, 09/22/16............................. 52,945 53,562,762 European Bank for Reconstruction & Development 1.375%, 10/20/16............................. 38,804 39,390,367 European Investment Bank 3.000%, 12/07/15............................. GBP 46,000 75,428,529 2.250%, 03/15/16............................. 30,000 30,750,570 0.625%, 04/15/16............................. 45,000 45,129,240 2.125%, 07/15/16............................. 4,000 4,107,792 0.500%, 08/15/16............................. 19,600 19,589,083 1.250%, 10/14/16............................. 5,000 5,060,200 Inter-American Development Bank 0.625%, 12/15/15............................. GBP 73,852 118,073,744 5.125%, 09/13/16............................. 30,000 32,474,880 1.375%, 10/18/16............................. 10,000 10,128,400 International Bank for Reconstruction & Development 0.375%, 11/16/15............................. 50,575 50,625,878 2.125%, 03/15/16............................. 100,000 102,360,800 0.500%, 05/16/16............................. 4,500 4,499,456 0.625%, 10/14/16............................. 18,000 18,009,612 International Finance Corp. 0.625%, 12/15/15............................. GBP 54,845 87,697,850 27 DFA TWO-YEAR GLOBAL FIXED INCOME PORTFOLIO CONTINUED Face Amount^ Value+ - ------- ------ (000) SUPRANATIONAL ORGANIZATION OBLIGATIONS -- (Continued) Nordic Investment Bank 0.500%, 04/14/16............................. 144,380 $ 144,494,493 -------------- TOTAL SUPRANATIONAL ORGANIZATION OBLIGATIONS..... 1,065,894,174 -------------- SWEDEN -- (8.0%) Kommuninvest I Sverige AB 0.625%, 09/18/15............................. 80,000 80,228,480 0.500%, 06/15/16............................. 20,000 19,996,480 Nordea Bank AB 2.750%, 08/11/15............................. EUR 79,062 101,018,454 3.875%, 12/15/15............................. GBP 5,000 8,256,678 Svensk Exportkredit AB 1.750%, 10/20/15............................. 23,490 23,822,947 0.875%, 12/15/15............................. GBP 60,000 96,108,728 0.625%, 05/31/16............................. 54,500 54,576,682 Svenska Handelsbanken AB 1.500%, 07/06/15............................. EUR 55,300 69,912,915 3.625%, 02/16/16............................. EUR 8,533 11,159,350 3.125%, 07/12/16............................. 37,790 39,251,113 -------------- TOTAL SWEDEN..................................... 504,331,827 -------------- UNITED KINGDOM -- (4.6%) Network Rail Infrastructure Finance P.L.C. 4.875%, 11/27/15............................. GBP 64,949 108,526,817 1.250%, 08/31/16............................. 11,225 11,355,569 United Kingdom Gilt 2.000%, 01/22/16............................. GBP 102,500 166,810,893 -------------- TOTAL UNITED KINGDOM............................. 286,693,279 -------------- UNITED STATES -- (3.3%) Apple, Inc. # 0.450%, 05/03/16............................. $ 10,000 9,995,370 General Electric Capital Corp. # 1.000%, 01/08/16............................. 51,817 52,082,873 # 5.000%, 01/08/16............................. 20,540 21,568,766 # 2.950%, 05/09/16............................. 5,340 5,514,671 1.500%, 07/12/16............................. 4,012 4,065,616 General Electric Co. 0.850%, 10/09/15............................. 8,035 8,072,090 Toyota Motor Credit Corp. 0.875%, 07/17/15............................. 75,280 75,573,893 0.800%, 05/17/16............................. 7,035 7,059,545 Face Amount Value+ - ------ ------ (000) UNITED STATES -- (Continued) Wal-Mart Stores, Inc. 0.600%, 04/11/16............................. $ 11,550 $ 11,558,039 2.800%, 04/15/16............................. 12,500 12,909,363 -------------- TOTAL UNITED STATES................................ 208,400,226 -------------- TOTAL BONDS........................................ 4,882,787,175 -------------- AGENCY OBLIGATIONS -- (7.7%) Federal Home Loan Bank 5.375%, 05/18/16............................. 37,000 39,820,917 2.125%, 06/10/16............................. 15,000 15,387,570 # 2.000%, 09/09/16............................. 34,980 35,884,373 0.625%, 10/14/16............................. 10,000 10,008,150 Federal Home Loan Mortgage Corporation # 0.500%, 05/13/16............................. 70,000 70,108,290 # 2.500%, 05/27/16............................. 35,000 36,125,180 # 2.000%, 08/25/16............................. 44,700 45,852,098 # 0.875%, 10/14/16............................. 55,000 55,354,805 Federal National Mortgage Association 5.000%, 03/15/16............................. 70,000 74,471,950 # 0.500%, 03/30/16............................. 45,000 45,085,995 # 0.625%, 08/26/16............................. 43,300 43,352,739 5.250%, 09/15/16............................. 10,000 10,866,950 -------------- TOTAL AGENCY OBLIGATIONS........................... 482,319,017 -------------- U.S. TREASURY OBLIGATIONS -- (11.7%) U.S. Treasury Notes 0.375%, 04/30/16............................. 190,000 190,163,210 0.250%, 05/15/16............................. 75,000 74,894,550 0.625%, 07/15/16............................. 60,000 60,234,360 1.500%, 07/31/16............................. 70,000 71,312,500 0.625%, 08/15/16............................. 10,000 10,034,380 1.000%, 08/31/16............................. 170,000 171,686,740 0.875%, 09/15/16............................. 130,000 130,995,280 1.000%, 10/31/16............................. 25,000 25,238,275 -------------- TOTAL U.S. TREASURY OBLIGATIONS.................... 734,559,295 -------------- Shares - ------ - SECURITIES LENDING COLLATERAL -- (3.0%) (S)@ DFA Short Term Investment Fund............... 16,633,563 192,450,325 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $6,379,724,551)............................ $6,292,115,812 ============== 28 DFA TWO-YEAR GLOBAL FIXED INCOME PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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......................... -- $ 517,026,760 -- $ 517,026,760 Austria........................... -- 30,991,592 -- 30,991,592 Canada............................ -- 564,727,274 -- 564,727,274 Denmark........................... -- 56,299,984 -- 56,299,984 Finland........................... -- 63,940,854 -- 63,940,854 France............................ -- 133,940,094 -- 133,940,094 Germany........................... -- 469,582,839 -- 469,582,839 Ireland........................... -- 65,891,528 -- 65,891,528 Japan............................. -- 180,661,881 -- 180,661,881 Netherlands....................... -- 498,943,369 -- 498,943,369 New Zealand....................... -- 42,803,436 -- 42,803,436 Norway............................ -- 166,042,447 -- 166,042,447 Singapore......................... -- 26,615,611 -- 26,615,611 Supranational Organization Obligations..................... -- 1,065,894,174 -- 1,065,894,174 Sweden............................ -- 504,331,827 -- 504,331,827 United Kingdom.................... -- 286,693,279 -- 286,693,279 United States..................... -- 208,400,226 -- 208,400,226 Agency Obligations................. -- 482,319,017 -- 482,319,017 U.S. Treasury Obligations.......... -- 734,559,295 -- 734,559,295 Securities Lending Collateral...... -- 192,450,325 -- 192,450,325 Forward Currency Contracts**....... -- 11,430,678 -- 11,430,678 -- -------------- -- -------------- TOTAL.............................. -- $6,303,546,490 -- $6,303,546,490 == ============== == ============== **Not reflected in the Schedule of Investments, valued at the unrealized appreciation/(depreciation) on the investment. (Note G) See accompanying Notes to Financial Statements. 29 DFA SELECTIVELY HEDGED GLOBAL FIXED INCOME PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Face Amount^ Value+ ------- ------ (000) BONDS -- (87.8%) AUSTRALIA -- (3.2%) Australia & New Zealand Banking Group, Ltd. 1.250%, 06/13/17............................. 15,000 $14,983,305 Commonwealth Bank of Australia 1.900%, 09/18/17............................. 10,000 10,139,110 Rio Tinto Finance USA, Ltd. 2.500%, 05/20/16............................. 2,525 2,588,234 Westpac Banking Corp. # 2.000%, 08/14/17............................. 10,425 10,619,332 ----------- TOTAL AUSTRALIA.................................. 38,329,981 ----------- CANADA -- (7.7%) Brookfield Asset Management, Inc. 5.800%, 04/25/17............................. 4,150 4,547,130 Export Development Canada 0.875%, 12/07/16............................. GBP 2,500 3,992,613 Ontario, Province of Canada 1.100%, 10/25/17............................. 25,000 24,888,850 Royal Bank of Canada 1.500%, 01/16/18............................. 4,384 4,372,851 1.500%, 01/16/18............................. 7,673 7,653,204 Teck Resources, Ltd. 2.500%, 02/01/18............................. 5,000 4,987,765 Thomson Reuters Corp. 6.500%, 07/15/18............................. 4,700 5,393,584 Toronto-Dominion Bank (The) 1.400%, 04/30/18............................. 29,615 29,247,507 TransAlta Corp. 4.750%, 01/15/15............................. 4,000 4,031,412 TransCanada PipeLines, Ltd. 3.400%, 06/01/15............................. 2,105 2,139,050 ----------- TOTAL CANADA..................................... 91,253,966 ----------- FINLAND -- (1.3%) Municipality Finance P.L.C. 1.250%, 12/15/16............................. GBP 10,000 16,051,555 ----------- FRANCE -- (4.2%) BNP Paribas SA 2.375%, 09/14/17............................. 8,000 8,153,680 Caisse d'Amortissement de la Dette Sociale 1.375%, 01/29/18............................. 9,600 9,628,435 Orange SA # 2.750%, 09/14/16............................. 8,000 8,239,680 Societe Generale SA 2.750%, 10/12/17............................. 8,000 8,233,736 Total Capital International SA 1.550%, 06/28/17............................. 15,000 15,099,765 ----------- TOTAL FRANCE..................................... 49,355,296 ----------- Face Amount^ Value+ ------- ------ (000) GERMANY -- (4.4%) Deutsche Bank AG 3.250%, 01/11/16............................. 4,000 4,116,548 # 6.000%, 09/01/17............................. 4,000 4,483,260 KFW 5.625%, 08/25/17............................. GBP 3,000 5,383,632 1.875%, 04/01/19............................. 15,000 15,169,800 Landwirtschaftliche Rentenbank 3.250%, 12/07/16............................. GBP 8,000 13,383,990 NRW Bank 0.875%, 12/15/17............................. GBP 6,000 9,445,880 ---------- TOTAL GERMANY.................................... 51,983,110 ---------- JAPAN -- (3.6%) Development Bank of Japan, Inc. 1.000%, 01/22/18............................. 19,200 19,007,289 Japan Finance Organization for Municipalities 1.375%, 02/05/18............................. 11,330 11,302,695 Nomura Holdings, Inc. 5.000%, 03/04/15............................. 5,770 5,845,604 Sumitomo Mitsui Banking Corp. # 1.350%, 07/18/15............................. 4,000 4,021,980 # 2.450%, 01/10/19............................. 2,600 2,620,743 ---------- TOTAL JAPAN...................................... 42,798,311 ---------- NETHERLANDS -- (1.1%) Cooperatieve Centrale Raiffeisen-Boerenleenbank BA 3.250%, 11/01/17............................. GBP 5,000 8,377,824 Nederlandse Waterschapsbank NV 1.500%, 04/16/18............................. 5,000 5,021,290 ---------- TOTAL NETHERLANDS................................ 13,399,114 ---------- NORWAY -- (2.9%) Kommunalbanken A.S. 1.125%, 12/15/16............................. GBP 15,000 24,029,822 Statoil ASA # 3.125%, 08/17/17............................. 10,000 10,513,060 ---------- TOTAL NORWAY..................................... 34,542,882 ---------- SINGAPORE -- (0.4%) Singapore Government Bond 2.500%, 06/01/19............................. SGD 6,450 5,287,178 ---------- SUPRANATIONAL ORGANIZATION OBLIGATIONS -- (3.5%) African Development Bank 0.875%, 03/15/18............................. 8,040 7,937,683 30 DFA SELECTIVELY HEDGED GLOBAL FIXED INCOME PORTFOLIO CONTINUED Face Amount^ Value+ ------- ------ (000) SUPRANATIONAL ORGANIZATION OBLIGATIONS -- (Continued) European Investment Bank # 1.625%, 06/15/17............................. 15,000 $15,274,950 1.375%, 01/15/18............................. GBP 5,000 7,999,303 Inter-American Development Bank 0.875%, 03/15/18............................. 10,000 9,883,750 ----------- TOTAL SUPRANATIONAL ORGANIZATION OBLIGATIONS..... 41,095,686 ----------- SWEDEN -- (0.6%) Kommuninvest I Sverige AB 1.000%, 10/24/17............................. 4,000 3,984,280 Nordea Bank AB 1.625%, 05/15/18............................. 3,000 2,981,253 ----------- TOTAL SWEDEN..................................... 6,965,533 ----------- SWITZERLAND -- (1.5%) Credit Suisse New York 3.500%, 03/23/15............................. 5,000 5,058,885 Noble Holding International, Ltd. 2.500%, 03/15/17............................. 3,500 3,546,322 UBS AG 3.875%, 01/15/15............................. 3,993 4,020,073 # 5.875%, 12/20/17............................. 4,325 4,871,706 ----------- TOTAL SWITZERLAND................................ 17,496,986 ----------- UNITED KINGDOM -- (5.5%) BP Capital Markets P.L.C. # 2.248%, 11/01/16............................. 4,000 4,094,380 # 1.846%, 05/05/17............................. 4,640 4,705,168 GlaxoSmithKline Capital P.L.C. # 1.500%, 05/08/17............................. 3,750 3,782,505 Lloyds Bank P.L.C. 4.200%, 03/28/17............................. 4,000 4,265,680 Network Rail Infrastructure Finance P.L.C. 0.875%, 05/15/18............................. 10,000 9,840,860 Rio Tinto Finance USA P.L.C. 1.625%, 08/21/17............................. 3,628 3,643,967 Royal Bank of Scotland Group P.L.C. 2.550%, 09/18/15............................. 4,000 4,057,080 United Kingdom Gilt 1.000%, 09/07/17............................. GBP 14,000 22,383,266 Vodafone Group P.L.C. 5.625%, 02/27/17............................. 8,000 8,751,744 ----------- TOTAL UNITED KINGDOM............................. 65,524,650 ----------- Face Amount Value+ ------ ------ (000) UNITED STATES -- (47.9%) AbbVie, Inc. # 1.200%, 11/06/15............................. $ 7,215 $ 7,255,620 ACE INA Holdings, Inc. 2.600%, 11/23/15............................. 4,215 4,301,260 Actavis, Inc. 1.875%, 10/01/17............................. 4,000 3,964,860 Aetna, Inc. # 2.200%, 03/15/19............................. 5,000 4,991,965 Aflac, Inc. # 2.650%, 02/15/17............................. 4,000 4,128,672 Agilent Technologies, Inc. # 6.500%, 11/01/17............................. 596 687,070 American Express Co. 6.150%, 08/28/17............................. 5,000 5,633,980 # 7.000%, 03/19/18............................. 2,000 2,330,980 American International Group, Inc. 5.850%, 01/16/18............................. 7,000 7,888,748 Ameriprise Financial, Inc. 5.650%, 11/15/15............................. 1,220 1,281,072 Anadarko Petroleum Corp. 5.950%, 09/15/16............................. 4,000 4,346,948 Anheuser-Busch InBev Worldwide, Inc. 1.375%, 07/15/17............................. 8,000 8,010,840 Apple, Inc. 1.000%, 05/03/18............................. 28,000 27,470,072 Assurant, Inc. 2.500%, 03/15/18............................. 5,000 5,038,785 AT&T, Inc. # 1.400%, 12/01/17............................. 9,000 8,972,127 Autodesk, Inc. 1.950%, 12/15/17............................. 4,000 4,021,256 Bank of America Corp. # 6.000%, 09/01/17............................. 4,000 4,460,920 BB&T Corp. # 1.450%, 01/12/18............................. 9,000 8,917,002 Berkshire Hathaway Finance Corp. 1.600%, 05/15/17............................. 4,000 4,048,876 Berkshire Hathaway, Inc. 1.550%, 02/09/18............................. 10,000 10,005,130 BlackRock, Inc. 6.250%, 09/15/17............................. 5,000 5,675,645 Bristol-Myers Squibb Co. 1.750%, 03/01/19............................. 5,000 4,957,955 Buckeye Partners L.P. 6.050%, 01/15/18............................. 1,880 2,093,797 Capital One Financial Corp. 6.750%, 09/15/17............................. 4,000 4,554,028 Cardinal Health, Inc. 1.700%, 03/15/18............................. 9,000 8,961,552 Caterpillar Financial Services Corp. 2.450%, 09/06/18............................. 2,880 2,943,824 31 DFA SELECTIVELY HEDGED GLOBAL FIXED INCOME PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) UNITED STATES -- (Continued) CBS Corp. 2.300%, 08/15/19............................. $ 4,638 $4,577,103 Chevron Corp. # 1.104%, 12/05/17............................. 10,000 9,943,700 Cigna Corp. 5.375%, 03/15/17............................. 1,190 1,299,192 Cisco Systems, Inc. # 2.125%, 03/01/19 5,000 5,021,855 Citigroup, Inc. 4.450%, 01/10/17............................. 4,000 4,258,060 6.000%, 08/15/17............................. 4,000 4,463,068 Coca-Cola Enterprises, Inc. 2.125%, 09/15/15............................. 3,389 3,427,841 Comcast Corp. # 4.950%, 06/15/16............................. 4,000 4,265,760 6.500%, 01/15/17............................. 3,500 3,908,321 Comerica, Inc. 3.000%, 09/16/15............................. 1,000 1,020,384 2.125%, 05/23/19............................. 700 697,050 Computer Sciences Corp. 2.500%, 09/15/15............................. 4,000 4,056,464 Devon Energy Corp. # 2.250%, 12/15/18............................. 5,000 5,006,005 DIRECTV Holdings LLC / DIRECTV Financing Co., Inc. 2.400%, 03/15/17............................. 4,000 4,096,924 Dollar General Corp. 1.875%, 04/15/18............................. 5,000 4,788,105 Eastman Chemical Co. 2.400%, 06/01/17............................. 4,000 4,072,848 eBay, Inc. # 2.200%, 08/01/19............................. 5,000 4,947,935 EI du Pont de Nemours & Co. 6.000%, 07/15/18............................. 2,475 2,836,395 EMC Corp. # 1.875%, 06/01/18............................. 8,780 8,727,706 Enbridge Energy Partners L.P. 5.875%, 12/15/16............................. 2,000 2,184,578 Energy Transfer Partners L.P. 5.950%, 02/01/15............................. 2,604 2,635,443 EOG Resources, Inc. 2.500%, 02/01/16............................. 4,000 4,084,580 Exelon Generation Co. LLC # 6.200%, 10/01/17............................. 4,000 4,501,692 Fifth Third Bancorp 3.625%, 01/25/16............................. 2,100 2,170,657 Fifth Third Bank 2.375%, 04/25/19............................. 1,615 1,624,168 FMC Technologies, Inc. 2.000%, 10/01/17............................. 5,000 5,037,575 Ford Motor Credit Co. LLC # 5.000%, 05/15/18............................. 5,000 5,464,030 Freeport-McMoRan, Inc. 2.150%, 03/01/17............................. 4,000 4,067,748 Face Amount Value+ ------ ------ (000) UNITED STATES -- (Continued) General Dynamics Corp. 1.000%, 11/15/17............................. $ 2,000 $ 1,982,628 General Electric Capital Corp. 3.750%, 11/14/14............................. 10,000 10,008,530 1.625%, 04/02/18............................. 15,000 15,008,055 Goldman Sachs Group,Inc. (The) # 6.250%, 09/01/17............................. 4,000 4,483,612 # 5.950%, 01/18/18............................. 2,000 2,239,300 Hartford Financial Services Group, Inc. (The) 4.000%, 10/15/17............................. 5,142 5,493,461 Hewlett-Packard Co. 2.600%, 09/15/17............................. 4,000 4,099,124 HSBC Finance Corp. 5.250%, 04/15/15............................. 2,187 2,232,249 Huntington Bancshares,Inc. 2.600%, 08/02/18............................. 5,000 5,075,430 Illinois Tool Works, Inc. 1.950%, 03/01/19............................. 6,150 6,155,369 Intuit, Inc. 5.750%, 03/15/17............................. 2,000 2,199,682 Jefferies Group LLC 5.125%, 04/13/18............................. 1,875 2,032,136 John Deere Capital Corp. 1.950%, 03/04/19............................. 3,400 3,387,539 JPMorgan Chase & Co. 3.150%, 07/05/16............................. 4,000 4,137,636 KeyBank NA 1.650%, 02/01/18............................. 1,820 1,815,497 Kimberly-Clark Corp. 1.900%, 05/22/19............................. 2,300 2,297,141 Kinder Morgan Energy Partners L.P. 6.000%, 02/01/17............................. 4,000 4,379,548 Kohl's Corp. 6.250%, 12/15/17............................. 4,000 4,512,980 Kroger Co. (The) 2.200%, 01/15/17............................. 2,795 2,853,290 Laboratory Corp. of America Holdings # 2.200%, 08/23/17............................. 4,500 4,566,645 Lorillard Tobacco Co. 2.300%, 08/21/17............................. 4,000 4,041,828 MasterCard, Inc. 2.000%, 04/01/19............................. 10,000 9,983,740 Mattel, Inc. 2.350%, 05/06/19............................. 5,000 4,968,545 McDonald's Corp. # 5.350%, 03/01/18............................. 5,000 5,600,970 McKesson Corp. # 1.400%, 03/15/18............................. 8,907 8,758,244 Morgan Stanley # 6.250%, 08/28/17............................. 4,000 4,476,948 MUFG Union Bank NA 2.625%, 09/26/18 5,245 5,341,676 32 DFA SELECTIVELY HEDGED GLOBAL FIXED INCOME PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) UNITED STATES -- (Continued) Mylan, Inc. 2.550%, 03/28/19............................. $ 2,400 $ 2,389,219 Nisource Finance Corp. 6.400%, 03/15/18............................. 3,000 3,429,180 Nucor Corp. # 5.750%, 12/01/17............................. 7,160 7,984,789 NYSE Euronext 2.000%, 10/05/17............................. 5,000 5,092,845 Oracle Corp. # 1.200%, 10/15/17............................. 1,500 1,495,098 Philip Morris International, Inc. 5.650%, 05/16/18............................. 3,000 3,395,715 Pioneer Natural Resources Co. 6.650%, 03/15/17............................. 4,000 4,431,796 6.875%, 05/01/18............................. 2,000 2,292,864 Praxair, Inc. # 1.250%, 11/07/18............................. 4,000 3,921,648 Principal Financial Group, Inc. 1.850%, 11/15/17............................. 6,707 6,735,874 Prudential Financial, Inc. # 6.100%, 06/15/17............................. 1,000 1,115,334 # 6.000%, 12/01/17............................. 5,000 5,640,295 Quest Diagnostics, Inc. # 3.200%, 04/01/16............................. 4,000 4,118,452 Qwest Corp. 6.500%, 06/01/17............................. 4,000 4,435,892 Reinsurance Group of America, Inc. # 5.625%, 03/15/17............................. 1,000 1,090,355 Republic Services, Inc. 3.800%, 05/15/18............................. 2,427 2,580,316 Scripps Networks Interactive, Inc. # 2.700%, 12/15/16............................. 4,059 4,195,691 Southern Power Co. 4.875%, 07/15/15............................. 5,672 5,832,603 Starwood Hotels & Resorts Worldwide, Inc. 6.750%, 05/15/18............................. 1,000 1,154,042 SunTrust Banks, Inc. 3.500%, 01/20/17............................. 4,000 4,199,956 Symantec Corp. 2.750%, 06/15/17............................. 4,000 4,065,312 TD Ameritrade Holding Corp. 4.150%, 12/01/14............................. 4,000 4,010,924 Tech Data Corp. 3.750%, 09/21/17............................. 4,500 4,672,269 Toyota Motor Credit Corp. 1.750%, 05/22/17............................. 10,000 10,141,730 1.375%, 01/10/18............................. 1,956 1,951,531 Face Amount Value+ ------ ------ (000) UNITED STATES -- (Continued) Tyson Foods, Inc. 2.650%, 08/15/19............................. $ 5,000 $ 5,047,660 Unilever Capital Corp. # 2.200%, 03/06/19............................. 3,820 3,878,843 US Bancorp 2.200%, 04/25/19............................. 5,000 5,024,315 Verizon Communications, Inc. # 1.100%, 11/01/17............................. 3,000 2,967,357 Wachovia Corp. # 5.750%, 06/15/17............................. 4,000 4,447,432 # 5.750%, 02/01/18............................. 3,000 3,385,416 Wal-Mart Stores, Inc. # 5.800%, 02/15/18............................. 2,745 3,117,442 Weatherford International, LLC 6.350%, 06/15/17............................. 4,000 4,450,872 WellPoint, Inc. 5.875%, 06/15/17............................. 3,990 4,437,626 # 1.875%, 01/15/18............................. 4,000 4,005,436 Western Union Co. (The) 5.930%, 10/01/16............................. 6,000 6,522,156 Wyndham Worldwide Corp. 2.500%, 03/01/18............................. 7,405 7,448,275 Xerox Corp. 2.750%, 03/15/19............................. 6,000 6,058,140 Zimmer Holdings, Inc. 1.400%, 11/30/14............................. 5,000 5,003,690 -------------- TOTAL UNITED STATES................................ 568,428,364 -------------- TOTAL BONDS........................................ 1,042,512,612 -------------- AGENCY OBLIGATIONS -- (4.1%) Federal Home Loan Bank # 5.000%, 11/17/17 30,000 33,449,010 Federal National Mortgage Association # 1.875%, 02/19/19............................. 15,000 15,194,100 -------------- TOTAL AGENCY OBLIGATIONS........................... 48,643,110 -------------- Shares - ------ - SECURITIES LENDING COLLATERAL -- (8.1%) (S)@ DFA Short Term Investment Fund............... 8,278,999 95,788,023 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $1,190,137,261) $1,186,943,745 ============== 33 DFA SELECTIVELY HEDGED GLOBAL FIXED INCOME PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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......................... -- $ 38,329,981 -- $ 38,329,981 Canada............................ -- 91,253,966 -- 91,253,966 Finland........................... -- 16,051,555 -- 16,051,555 France............................ -- 49,355,296 -- 49,355,296 Germany........................... -- 51,983,110 -- 51,983,110 Japan............................. -- 42,798,311 -- 42,798,311 Netherlands....................... -- 13,399,114 -- 13,399,114 Norway............................ -- 34,542,882 -- 34,542,882 Singapore......................... -- 5,287,178 -- 5,287,178 Supranational Organization Obligations..................... -- 41,095,686 -- 41,095,686 Sweden............................ -- 6,965,533 -- 6,965,533 Switzerland....................... -- 17,496,986 -- 17,496,986 United Kingdom.................... -- 65,524,650 -- 65,524,650 United States..................... -- 568,428,364 -- 568,428,364 Agency Obligations................. -- 48,643,110 -- 48,643,110 Securities Lending Collateral...... -- 95,788,023 -- 95,788,023 Forward Currency Contracts**....... -- (17,706,538) -- (17,706,538) -- -------------- -- -------------- TOTAL.............................. -- $1,169,237,207 -- $1,169,237,207 == ============== == ============== **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 SHORT-TERM GOVERNMENT PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Face Amount Value+ -------- -------------- (000) AGENCY OBLIGATIONS -- (60.8%) Federal Farm Credit Bank 4.875%, 01/17/17................... $ 12,000 $ 13,088,172 Federal Home Loan Bank 1.375%, 12/11/15................... 30,185 30,567,534 1.625%, 12/11/15................... 21,500 21,822,285 3.125%, 03/11/16................... 68,645 71,197,702 5.375%, 05/18/16................... 81,500 87,713,641 2.125%, 06/10/16................... 87,700 89,965,993 5.125%, 10/19/16................... 9,845 10,661,210 4.750%, 12/16/16................... 82,500 89,525,700 4.875%, 05/17/17................... 8,000 8,814,976 1.000%, 06/09/17................... 9,010 9,020,470 1.000%, 06/21/17................... 134,210 134,684,164 0.750%, 09/08/17................... 98,000 97,032,348 2.250%, 09/08/17................... 30,000 30,969,870 5.000%, 11/17/17................... 160,240 178,662,312 0.750%, 12/08/17................... 50,530 49,701,156 1.375%, 03/09/18................... 156,885 157,156,725 1.250%, 06/08/18................... 19,300 19,216,643 4.750%, 06/08/18................... 19,925 22,242,716 2.000%, 09/14/18................... 30,000 30,652,560 1.625%, 06/14/19................... 30,000 29,850,210 Tennessee Valley Authority 5.500%, 07/18/17................... 3,362 3,756,389 6.250%, 12/15/17................... 6,500 7,508,501 4.500%, 04/01/18................... 15,180 16,775,023 1.750%, 10/15/18................... 31,635 31,823,323 -------------- TOTAL AGENCY OBLIGATIONS............. 1,242,409,623 -------------- U.S. TREASURY OBLIGATIONS -- (38.7%) U.S. Treasury Notes 2.000%, 04/30/16................... 32,300 33,094,871 1.750%, 05/31/16................... 2,000 2,043,438 3.000%, 02/28/17................... 10,000 10,539,840 3.125%, 04/30/17................... 12,000 12,705,000 0.625%, 08/31/17................... 8,000 7,938,128 0.625%, 09/30/17................... 85,000 84,249,620 4.250%, 11/15/17................... 194,500 213,463,750 2.250%, 11/30/17................... 121,000 125,546,938 2.625%, 01/31/18................... 45,000 47,207,790 0.750%, 02/28/18................... 7,000 6,911,954 2.875%, 03/31/18................... 67,500 71,381,250 2.625%, 04/30/18................... 68,000 71,362,804 1.375%, 09/30/18................... 22,700 22,730,146 1.250%, 11/30/18................... 10,500 10,439,299 1.500%, 01/31/19................... 48,000 48,090,000 0.875%, 07/31/19................... 25,000 24,193,350 -------------- TOTAL U.S. TREASURY OBLIGATIONS...... 791,898,178 -------------- 35 DFA SHORT-TERM GOVERNMENT PORTFOLIO CONTINUED Shares Value+ --------- -------------- TEMPORARY CASH INVESTMENTS -- (0.5%) State Street Institutional U.S. Government Money Market Fund. 9,216,749 $ 9,216,749 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $2,041,410,317)....................................... $2,043,524,550 ============== Summary of the Portfolio's investments as of October 31, 2014, 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................. -- $1,242,409,623 -- $1,242,409,623 U.S. Treasury Obligations.......... -- 791,898,178 -- 791,898,178 Temporary Cash Investments......... $9,216,749 -- -- 9,216,749 ---------- -------------- -- -------------- TOTAL.............................. $9,216,749 $2,034,307,801 -- $2,043,524,550 ========== ============== == ============== See accompanying Notes to Financial Statements. 36 DFA FIVE-YEAR GLOBAL FIXED INCOME PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Face Amount^ Value+ ------- ------ (000) BONDS -- (93.3%) AUSTRALIA -- (9.3%) Australia & New Zealand Banking Group, Ltd. 1.450%, 05/15/18............................. 25,900 $ 25,581,896 # 2.250%, 06/13/19............................. 251,216 251,611,916 Commonwealth Bank of Australia 1.900%, 09/18/17............................. 42,720 43,314,278 2.500%, 09/20/18............................. 101,000 103,105,749 2.250%, 03/13/19............................. 51,512 51,753,849 # 2.300%, 09/06/19............................. 59,250 59,306,998 National Australia Bank, Ltd. # 2.300%, 07/25/18............................. 47,000 47,860,570 # 2.250%, 07/01/19............................. 110,340 110,356,882 Westpac Banking Corp. # 1.600%, 01/12/18............................. 50,650 50,648,278 # 2.250%, 07/30/18............................. 63,900 64,910,323 # 2.250%, 01/17/19............................. 128,099 129,698,957 ------------ TOTAL AUSTRALIA.................................. 938,149,696 ------------ AUSTRIA -- (2.1%) Oesterreichische Kontrollbank AG 1.125%, 05/29/18............................. 103,000 102,286,210 # 1.625%, 03/12/19............................. 112,903 112,728,000 ------------ TOTAL AUSTRIA.................................... 215,014,210 ------------ CANADA -- (10.1%) Canada Government International Bond # 1.625%, 02/27/19............................. 116,700 116,971,911 Export Development Canada 1.875%, 12/17/18............................. GBP 11,253 18,287,653 Ontario, Province of Canada 3.000%, 07/16/18............................. 10,000 10,521,770 2.000%, 09/27/18............................. 18,800 19,073,954 2.000%, 01/30/19............................. 171,800 173,622,798 1.650%, 09/27/19............................. 74,691 73,612,238 Royal Bank of Canada # 1.500%, 01/16/18............................. 44,960 44,845,667 # 2.200%, 07/27/18............................. 145,150 147,345,103 # 2.150%, 03/15/19............................. 90,165 90,693,908 Toronto-Dominion Bank (The) 1.400%, 04/30/18............................. 20,754 20,496,464 # 2.625%, 09/10/18............................. 142,484 145,984,404 # 2.125%, 07/02/19............................. 108,670 108,268,573 Face Amount^ Value+ ------- ------ (000) CANADA -- (Continued) Total Capital Canada, Ltd. 1.450%, 01/15/18............................. 53,370 $ 53,157,320 -------------- TOTAL CANADA..................................... 1,022,881,763 -------------- DENMARK -- (1.5%) Kommunekredit 1.125%, 03/15/18............................. 155,274 154,348,256 -------------- FINLAND -- (1.9%) Finland Government International Bond 1.625%, 10/01/18............................. 60,000 60,487,800 Municipality Finance P.L.C. 1.125%, 12/07/17............................. GBP 26,055 41,409,276 1.125%, 04/17/18............................. 22,000 21,837,640 1.750%, 05/21/19............................. 66,800 66,876,286 -------------- TOTAL FINLAND.................................... 190,611,002 -------------- FRANCE -- (3.1%) Dexia Credit Local SA 2.250%, 01/30/19............................. 67,500 68,559,480 Sanofi 1.250%, 04/10/18............................. 10,000 9,922,750 Total Capital International SA 1.550%, 06/28/17............................. 26,300 26,474,921 2.125%, 01/10/19............................. 101,000 101,583,275 # 2.100%, 06/19/19............................. 36,034 36,012,380 Total Capital SA # 2.125%, 08/10/18............................. 46,700 47,439,681 3.875%, 12/14/18............................. GBP 13,134 22,735,847 -------------- TOTAL FRANCE..................................... 312,728,334 -------------- GERMANY -- (3.3%) FMS Wertmanagement AoeR 1.625%, 11/20/18............................. 43,000 43,187,867 1.875%, 12/07/18............................. GBP 29,600 47,964,806 KFW 1.000%, 12/07/17............................. GBP 12,500 19,834,487 1.000%, 06/11/18............................. 14,000 13,834,072 2.000%, 12/06/18............................. GBP 5,000 8,148,075 # 1.875%, 04/01/19............................. 92,750 93,799,930 Landwirtschaftliche Rentenbank 1.000%, 12/15/17............................. GBP 28,000 44,369,230 # 1.000%, 04/04/18............................. 33,000 32,689,635 # 1.875%, 09/17/18............................. 15,000 15,254,430 NRW Bank 1.875%, 07/01/19............................. 20,100 20,094,774 -------------- TOTAL GERMANY.................................... 339,177,306 -------------- 37 DFA FIVE-YEAR GLOBAL FIXED INCOME PORTFOLIO CONTINUED Face Amount^ Value+ ------- ------ (000) JAPAN -- (3.9%) Japan Bank for International Cooperation 1.750%, 07/31/18............................. 201,350 $203,172,419 1.750%, 11/13/18............................. 9,000 9,060,498 1.750%, 05/29/19............................. 38,280 38,265,454 Japan Finance Organization for Municipalities 1.375%, 02/05/18............................. 40,500 40,402,395 2.500%, 09/12/18............................. 15,400 15,910,294 2.500%, 09/12/18............................. 50,000 51,656,800 2.125%, 03/06/19............................. 35,000 35,404,950 ------------ TOTAL JAPAN...................................... 393,872,810 ------------ NETHERLANDS -- (9.5%) Bank Nederlandse Gemeenten NV 1.875%, 12/07/18............................. GBP 59,950 96,876,412 1.875%, 06/11/19............................. 161,800 162,565,152 Cooperatieve Centrale Raiffeisen- Boerenleenbank BA 1.700%, 03/19/18............................. 20,900 20,955,490 2.250%, 01/14/19............................. 225,625 228,346,714 Nederlandse Waterschapsbank NV 1.875%, 03/13/19............................. 248,340 250,123,081 1.750%, 09/05/19............................. 10,000 9,964,000 Shell International Finance BV # 1.900%, 08/10/18............................. 119,844 121,071,442 # 2.000%, 11/15/18............................. 53,970 54,411,367 4.300%, 09/22/19............................. 20,000 22,061,240 ------------ TOTAL NETHERLANDS................................ 966,374,898 ------------ NORWAY -- (5.0%) Kommunalbanken A.S. 1.000%, 03/15/18............................. 37,000 36,594,184 2.125%, 03/15/19............................. 146,650 149,261,837 1.750%, 05/28/19............................. 85,500 85,536,252 Statoil ASA # 1.200%, 01/17/18............................. 40,850 40,638,234 1.150%, 05/15/18............................. 183,925 181,540,412 1.950%, 11/08/18............................. 13,800 13,875,113 ------------ TOTAL NORWAY..................................... 507,446,032 ------------ SINGAPORE -- (2.6%) Singapore Government Bond 4.000%, 09/01/18............................. SGD 151,200 130,489,943 2.500%, 06/01/19............................. SGD 163,700 134,187,746 ------------ TOTAL SINGAPORE.................................. 264,677,689 ------------ Face Amount^ Value+ ------- ------ (000) SUPRANATIONAL ORGANIZATION OBLIGATIONS -- (7.9%) African Development Bank 1.625%, 10/02/18............................. 34,920 $ 35,117,996 Asian Development Bank 1.750%, 03/21/19............................. 15,000 15,097,050 1.875%, 04/12/19............................. 123,500 124,822,685 Council Of Europe Development Bank 1.000%, 03/07/18............................. 56,200 55,719,490 # 1.125%, 05/31/18............................. 60,000 59,526,600 1.875%, 12/22/18............................. GBP 28,500 46,224,275 European Bank for Reconstruction & Development 1.875%, 12/17/18............................. GBP 6,000 9,746,688 European Investment Bank 4.750%, 10/15/18............................. GBP 28,722 51,532,970 1.625%, 12/18/18............................. 25,000 25,111,950 1.500%, 02/01/19............................. GBP 58,500 93,179,141 5.375%, 03/07/19............................. GBP 5,000 9,239,278 1.875%, 03/15/19............................. 101,400 102,561,030 International Bank for Reconstruction & Development 1.875%, 03/15/19............................. 91,000 92,469,650 Nordic Investment Bank # 1.875%, 06/14/19............................. 77,020 77,805,219 ------------ TOTAL SUPRANATIONAL ORGANIZATION OBLIGATIONS..... 798,154,022 ------------ SWEDEN -- (5.4%) Nordea Bank AB # 2.375%, 04/04/19............................. 62,343 63,038,935 Svensk Exportkredit AB 1.125%, 04/05/18............................. 40,000 39,622,800 1.875%, 12/21/18............................. GBP 40,150 64,888,240 # 1.875%, 06/17/19............................. 94,575 95,127,318 Svenska Handelsbanken AB 4.000%, 01/18/19............................. GBP 4,275 7,377,201 # 2.500%, 01/25/19............................. 168,756 172,674,346 2.250%, 06/17/19............................. 103,295 103,929,644 ------------ TOTAL SWEDEN..................................... 546,658,484 ------------ UNITED KINGDOM -- (2.8%) Network Rail Infrastructure Finance P.L.C. 0.875%, 05/15/18............................. 10,000 9,840,860 United Kingdom Gilt 1.250%, 07/22/18............................. GBP 146,000 233,219,957 4.500%, 03/07/19............................. GBP 10,000 18,081,415 1.750%, 07/22/19............................. GBP 11,000 17,764,403 ------------ TOTAL UNITED KINGDOM............................. 278,906,635 ------------ 38 DFA FIVE-YEAR GLOBAL FIXED INCOME PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) UNITED STATES -- (24.9%) 3M Co. # 1.625%, 06/15/19............................. $ 18,195 $ 18,047,730 Apple, Inc. # 1.000%, 05/03/18............................. 85,700 84,078,042 # 2.100%, 05/06/19............................. 189,300 190,366,895 Berkshire Hathaway Finance Corp. # 1.300%, 05/15/18............................. 48,700 48,219,623 # 5.400%, 05/15/18............................. 5,000 5,632,000 # 2.000%, 08/15/18............................. 51,375 51,762,213 Berkshire Hathaway, Inc. 1.550%, 02/09/18............................. 45,446 45,469,314 # 2.100%, 08/14/19............................. 42,817 43,052,194 Chevron Corp. 1.104%, 12/05/17............................. 72,866 72,373,353 # 1.718%, 06/24/18............................. 132,577 133,809,303 Coca-Cola Co. (The) # 1.650%, 11/01/18............................. 31,819 31,845,187 Colgate-Palmolive Co. 0.900%, 05/01/18............................. 16,500 16,137,891 Exxon Mobil Corp. # 1.819%, 03/15/19............................. 175,700 176,351,847 General Electric Capital Corp. # 1.625%, 04/02/18............................. 21,147 21,158,356 5.625%, 05/01/18............................. 17,500 19,792,640 2.300%, 01/14/19............................. 181,485 184,551,734 6.000%, 08/07/19............................. 12,000 14,072,316 6.000%, 08/07/19............................. 10,500 12,313,276 General Electric Co. 5.250%, 12/06/17............................. 23,418 26,053,813 International Business Machines Corp. 1.250%, 02/08/18............................. 63,800 63,317,225 # 1.950%, 02/12/19............................. 158,048 157,990,787 Johnson & Johnson 5.150%, 07/15/18............................. 10,515 11,869,437 # 1.650%, 12/05/18............................. 176,200 176,992,019 Microsoft Corp. # 1.625%, 12/06/18............................. 168,185 168,292,975 Pfizer, Inc. # 1.500%, 06/15/18............................. 93,504 93,246,583 # 2.100%, 05/15/19............................. 188,074 189,017,003 Face Amount Value+ ------ ------ (000) UNITED STATES -- (Continued) Procter & Gamble Co. (The) # 1.600%, 11/15/18............................. $ 5,800 $ 5,791,300 1.900%, 11/01/19............................. 38,000 37,805,060 Toyota Motor Credit Corp. # 1.250%, 10/05/17............................. 4,567 4,560,675 # 1.375%, 01/10/18............................. 47,200 47,092,148 2.000%, 10/24/18............................. 154,239 155,660,158 # 2.100%, 01/17/19............................. 42,343 42,616,874 2.125%, 07/18/19............................. 16,105 16,123,730 Wal-Mart Stores, Inc. # 1.125%, 04/11/18............................. 127,967 126,338,876 1.950%, 12/15/18............................. 26,431 26,588,714 --------------- TOTAL UNITED STATES................................ 2,518,391,291 --------------- TOTAL BONDS........................................ 9,447,392,428 --------------- AGENCY OBLIGATIONS -- (2.7%) Federal Home Loan Bank # 1.750%, 12/14/18............................. 81,000 81,469,800 Federal Home Loan Mortgage Corporation # 3.750%, 03/27/19............................. 15,000 16,345,110 # 1.250%, 08/01/19............................. 16,200 15,856,074 Federal National Mortgage Association 1.875%, 09/18/18............................. 34,000 34,574,192 # 1.625%, 11/27/18............................. 41,000 41,184,869 # 1.875%, 02/19/19............................. 40,000 40,517,600 # 1.750%, 06/20/19............................. 23,000 23,037,168 # 1.750%, 09/12/19............................. 15,000 14,990,970 --------------- TOTAL AGENCY OBLIGATIONS........................... 267,975,783 --------------- Shares - ------ SECURITIES LENDING COLLATERAL -- (4.0%) (S)@ DFA Short Term Investment Fund............... 35,348,377 408,980,718 --------------- TOTAL INVESTMENTS -- (100.0%) (Cost $10,105,337,436)............................... $10,124,348,929 =============== 39 DFA FIVE-YEAR GLOBAL FIXED INCOME PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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.............................. -- $ 938,149,696 -- $ 938,149,696 Austria................................ -- 215,014,210 -- 215,014,210 Canada................................. -- 1,022,881,763 -- 1,022,881,763 Denmark................................ -- 154,348,256 -- 154,348,256 Finland................................ -- 190,611,002 -- 190,611,002 France................................. -- 312,728,334 -- 312,728,334 Germany................................ -- 339,177,306 -- 339,177,306 Japan.................................. -- 393,872,810 -- 393,872,810 Netherlands............................ -- 966,374,898 -- 966,374,898 Norway................................. -- 507,446,032 -- 507,446,032 Singapore.............................. -- 264,677,689 -- 264,677,689 Supranational Organization Obligations. -- 798,154,022 -- 798,154,022 Sweden................................. -- 546,658,484 -- 546,658,484 United Kingdom......................... -- 278,906,635 -- 278,906,635 United States.......................... -- 2,518,391,291 -- 2,518,391,291 Agency Obligations....................... -- 267,975,783 -- 267,975,783 Securities Lending Collateral............ -- 408,980,718 -- 408,980,718 Forward Currency Contracts**............. -- 8,224,998 -- 8,224,998 -- --------------- -- --------------- TOTAL.................................... -- $10,132,573,927 -- $10,132,573,927 == =============== == =============== **Not reflected in the Schedule of Investments, valued at the unrealized appreciation/(depreciation) on the investment. (Note G) See accompanying Notes to Financial Statements. 40 DFA WORLD EX U.S. GOVERNMENT FIXED INCOME PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Face Amount^ Value+ ------- ------ (000) BONDS -- (97.9%) AUSTRIA -- (3.6%) Austria Government Bond 3.400%, 11/22/22............................. EUR 6,545 $ 9,902,656 1.750%, 10/20/23............................. EUR 600 808,152 1.650%, 10/21/24............................. EUR 1,000 1,325,708 ----------- TOTAL AUSTRIA.................................... 12,036,516 ----------- BELGIUM -- (3.7%) Belgium Government Bond 2.250%, 06/22/23............................. EUR 6,200 8,610,271 5.500%, 03/28/28............................. EUR 2,200 4,068,678 ----------- TOTAL BELGIUM.................................... 12,678,949 ----------- CANADA -- (9.3%) Alberta, Province of Canada 2.550%, 12/15/22............................. CAD 8,350 7,419,243 British Columbia, Province of Canada 2.700%, 12/18/22............................. CAD 6,100 5,478,661 Canadian Government Bond 1.500%, 06/01/23............................. CAD 2,000 1,711,530 Manitoba, Province of Canada 2.550%, 06/02/23............................. CAD 4,250 3,723,054 Ontario, Province of Canada 1.875%, 05/21/24............................. EUR 1,700 2,268,189 6.500%, 03/08/29............................. CAD 9,000 10,917,865 ----------- TOTAL CANADA..................................... 31,518,542 ----------- DENMARK -- (3.8%) Denmark Government Bond 1.500%, 11/15/23............................. DKK 26,800 4,777,516 7.000%, 11/10/24............................. DKK 5,900 1,584,293 1.750%, 11/15/25............................. DKK 35,900 6,448,461 ----------- TOTAL DENMARK.................................... 12,810,270 ----------- FINLAND -- (3.7%) Finland Government Bond 1.500%, 04/15/23............................. EUR 7,500 9,927,956 2.750%, 07/04/28............................. EUR 1,900 2,784,722 ----------- TOTAL FINLAND.................................... 12,712,678 ----------- FRANCE -- (19.7%) Caisse d'Amortissement de la Dette Sociale 2.500%, 10/25/22............................. EUR 1,400 1,973,792 1.375%, 11/25/24............................. EUR 1,500 1,901,951 France Government Bond OAT 1.750%, 05/25/23............................. EUR 9,000 12,059,580 2.250%, 05/25/24............................. EUR 9,250 12,807,601 6.000%, 10/25/25............................. EUR 3,850 7,150,388 3.500%, 04/25/26............................. EUR 14,100 21,615,739 Face Amount^ Value+ ------- ------ (000) FRANCE -- (Continued) Reseau Ferre de France 5.500%, 12/01/21............................. GBP 3,000 $ 5,790,404 3.125%, 10/25/28............................. EUR 1,000 1,460,770 Societe Nationale des Chemins de Fer Francais 5.375%, 03/18/27............................. GBP 1,000 1,935,158 ----------- TOTAL FRANCE..................................... 66,695,383 ----------- GERMANY -- (0.9%) Bundesrepublik Deutschland 4.750%, 07/04/28............................. EUR 700 1,265,228 KFW 5.550%, 06/07/21............................. GBP 900 1,751,259 ----------- TOTAL GERMANY.................................... 3,016,487 ----------- JAPAN -- (8.9%) Japan Government Ten Year Bond 1.400%, 03/20/20............................. JPY 1,678,000 15,941,710 1.200%, 06/20/21............................. JPY 1,197,000 11,355,403 Japan Government Twenty Year Bond 0.800%, 06/20/23............................. JPY 310,000 2,862,214 ----------- TOTAL JAPAN...................................... 30,159,327 ----------- LUXEMBOURG -- (1.6%) Grand Duchy of Luxembourg 2.125%, 07/10/23............................. EUR 3,800 5,278,901 ----------- NETHERLANDS -- (9.4%) Bank Nederlandse Gemeenten NV 5.375%, 06/07/21............................. GBP 600 1,144,202 2.250%, 08/30/22............................. EUR 2,300 3,195,136 2.250%, 07/17/23............................. EUR 4,000 5,558,824 1.125%, 09/04/24............................. EUR 1,500 1,883,526 Nederlandse Waterschapsbank NV 3.000%, 11/16/23............................. EUR 4,700 6,903,382 Netherlands Government Bond 2.250%, 07/15/22............................. EUR 6,420 8,996,571 2.000%, 07/15/24............................. EUR 2,500 3,426,777 5.500%, 01/15/28............................. EUR 300 567,592 ----------- TOTAL NETHERLANDS................................ 31,676,010 ----------- NEW ZEALAND -- (3.2%) New Zealand Government Bond 3.000%, 04/15/20............................. NZD 9,100 6,792,402 6.000%, 05/15/21............................. NZD 4,500 3,925,031 ----------- TOTAL NEW ZEALAND................................ 10,717,433 ----------- 41 DFA WORLD EX U.S. GOVERNMENT FIXED INCOME PORTFOLIO CONTINUED Face Amount^ Value+ ------- ------ (000) NORWAY -- (1.0%) Norway Government Bond 3.750%, 05/25/21............................. NOK 20,400 $ 3,408,292 ----------- SINGAPORE -- (3.8%) Singapore Government Bond 3.250%, 09/01/20............................. SGD 3,100 2,617,583 3.125%, 09/01/22............................. SGD 3,570 3,006,467 2.750%, 07/01/23............................. SGD 8,600 7,010,523 3.000%, 09/01/24............................. SGD 400 330,879 ----------- TOTAL SINGAPORE.................................. 12,965,452 ----------- SUPRANATIONAL ORGANIZATION OBLIGATIONS -- (9.2%) European Financial Stability Facility 2.250%, 09/05/22............................. EUR 1,700 2,368,486 1.750%, 06/27/24............................. EUR 700 936,355 European Investment Bank 5.375%, 06/07/21............................. GBP 880 1,690,931 2.250%, 10/14/22............................. EUR 2,500 3,498,657 2.500%, 10/31/22............................. GBP 2,980 4,861,210 2.750%, 09/15/25............................. EUR 500 731,040 1.900%, 01/26/26............................. JPY 256,000 2,619,008 European Union 3.000%, 09/04/26............................. EUR 6,925 10,326,411 2.875%, 04/04/28............................. EUR 1,610 2,376,421 International Bank for Reconstruction & Development 5.000%, 03/07/22............................. AUD 1,400 1,331,486 Nordic Investment Bank 5.000%, 04/19/22............................. AUD 600 568,358 ----------- TOTAL SUPRANATIONAL ORGANIZATION OBLIGATIONS..... 31,308,363 ----------- Face Amount^ Value+ ------- ------ (000) SWEDEN -- (1.2%) Sweden Government Bond 1.500%, 11/13/23............................. SEK 30,000 $ 4,214,199 ------------ UNITED KINGDOM -- (14.9%) Network Rail Infrastructure Finance P.L.C. 4.625%, 07/21/20............................. GBP 650 1,195,475 4.750%, 01/22/24............................. GBP 200 383,358 United Kingdom Gilt 1.750%, 09/07/22............................. GBP 12,270 19,254,210 2.250%, 09/07/23............................. GBP 8,750 14,129,375 2.750%, 09/07/24............................. GBP 2,300 3,841,274 4.250%, 12/07/27............................. GBP 6,000 11,496,056 ------------ TOTAL UNITED KINGDOM............................. 50,299,748 ------------ TOTAL BONDS...................................... 331,496,550 ------------ AGENCY OBLIGATIONS -- (2.1%) Federal Home Loan Bank 5.750%, 06/12/26............................. 100 126,402 Federal Home Loan Mortgage Corporation 2.375%, 01/13/22............................. 4,700 4,731,612 Tennessee Valley Authority 5.350%, 06/07/21............................. GBP 400 751,166 6.750%, 11/01/25............................. 1,030 1,384,101 ------------ TOTAL AGENCY OBLIGATIONS......................... 6,993,281 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $346,874,423)............................ $338,489,831 ============ 42 DFA WORLD EX U.S. GOVERNMENT FIXED INCOME PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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........................... -- $ 12,036,516 -- $ 12,036,516 Belgium........................... -- 12,678,949 -- 12,678,949 Canada............................ -- 31,518,542 -- 31,518,542 Denmark........................... -- 12,810,270 -- 12,810,270 Finland........................... -- 12,712,678 -- 12,712,678 France............................ -- 66,695,383 -- 66,695,383 Germany........................... -- 3,016,487 -- 3,016,487 Japan............................. -- 30,159,327 -- 30,159,327 Luxembourg........................ -- 5,278,901 -- 5,278,901 Netherlands....................... -- 31,676,010 -- 31,676,010 New Zealand....................... -- 10,717,433 -- 10,717,433 Norway............................ -- 3,408,292 -- 3,408,292 Singapore......................... -- 12,965,452 -- 12,965,452 Supranational Organization Obligations..................... -- 31,308,363 -- 31,308,363 Sweden............................ -- 4,214,199 -- 4,214,199 United Kingdom.................... -- 50,299,748 -- 50,299,748 Agency Obligations................. -- 6,993,281 -- 6,993,281 Forward Currency Contracts**....... -- 10,278,780 -- 10,278,780 -- ------------ -- ------------ TOTAL.............................. -- $348,768,611 -- $348,768,611 == ============ == ============ **Not reflected in the Schedule of Investments, valued at the unrealized appreciation/(depreciation) on the investment. (Note G) See accompanying Notes to Financial Statements. 43 DFA INTERMEDIATE GOVERNMENT FIXED INCOME PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Face Amount Value+ ------ ------ (000) AGENCY OBLIGATIONS -- (54.9%) Federal Farm Credit Bank 5.625%, 08/18/17............................. $ 4,000 $ 4,526,124 5.100%, 09/03/19............................. 9,000 10,387,836 5.320%, 09/03/19............................. 21,300 24,533,787 5.150%, 11/15/19............................. 11,200 12,965,982 4.670%, 05/07/20............................. 5,600 6,413,361 5.350%, 08/07/20............................. 6,700 7,969,724 3.650%, 12/21/20............................. 44,000 47,866,236 5.250%, 03/02/21............................. 6,100 7,188,820 5.220%, 02/22/22............................. 5,000 6,022,080 5.210%, 12/19/22............................. 21,200 25,746,192 5.250%, 03/06/23............................. 6,000 7,364,232 5.220%, 05/15/23............................. 48,100 57,998,066 Federal Home Loan Bank 4.875%, 05/17/17............................. 87,500 96,413,800 5.000%, 11/17/17............................. 117,600 131,120,119 3.125%, 12/08/17............................. 30,000 31,801,380 1.250%, 06/08/18............................. 17,200 17,125,713 4.750%, 06/08/18............................. 5,835 6,513,739 2.000%, 09/14/18............................. 41,800 42,709,234 1.750%, 12/14/18............................. 45,000 45,261,000 1.500%, 03/08/19............................. 36,000 35,811,360 1.875%, 03/08/19............................. 53,000 53,435,236 5.375%, 05/15/19............................. 49,575 57,434,670 1.625%, 06/14/19............................. 53,830 53,561,227 5.125%, 08/15/19............................. 5,295 6,101,577 1.375%, 09/13/19............................. 5,000 4,902,870 4.500%, 09/13/19............................. 36,970 41,605,114 4.125%, 12/13/19............................. 26,000 28,821,754 1.875%, 03/13/20............................. 103,000 102,492,107 4.125%, 03/13/20............................. 123,880 137,214,072 3.000%, 03/18/20............................. 18,080 19,138,240 3.375%, 06/12/20............................. 28,500 30,506,628 2.875%, 09/11/20............................. 14,700 15,341,273 4.625%, 09/11/20............................. 25,650 29,288,581 3.125%, 12/11/20............................. 6,000 6,338,862 5.250%, 12/11/20............................. 7,550 8,881,729 1.750%, 03/12/21............................. 40,440 39,340,962 5.000%, 03/12/21............................. 5,200 6,054,105 2.250%, 06/11/21............................. 70,000 69,695,360 3.625%, 06/11/21............................. 10,035 10,916,655 5.625%, 06/11/21............................. 36,980 44,602,059 2.375%, 09/10/21............................. 30,000 30,125,070 3.000%, 09/10/21............................. 31,230 32,576,731 2.625%, 12/10/21............................. 37,345 38,115,763 5.000%, 12/10/21............................. 45,500 53,206,107 2.250%, 03/11/22............................. 10,000 9,933,470 2.500%, 03/11/22............................. 11,000 11,062,425 5.250%, 06/10/22............................. 8,250 9,876,314 5.750%, 06/10/22............................. 19,500 23,861,195 2.000%, 09/09/22............................. 16,225 15,664,832 5.375%, 09/30/22............................. 63,380 74,766,090 5.250%, 12/09/22............................. 15,000 17,920,845 Face Amount Value+ ------ ------ (000) 4.750%, 03/10/23............................. $ 49,200 $ 57,088,433 3.250%, 06/09/23............................. 35,000 36,696,520 5.375%, 08/15/24............................. 9,000 10,932,327 5.365%, 09/09/24............................. 2,000 2,425,098 4.375%, 03/13/26............................. 20,100 22,755,029 5.750%, 06/12/26............................. 6,000 7,584,150 Tennessee Valley Authority 5.500%, 07/18/17............................. 13,500 15,083,658 6.250%, 12/15/17............................. 46,000 53,137,084 4.500%, 04/01/18............................. 44,700 49,396,808 3.875%, 02/15/21............................. 105,982 116,273,170 1.875%, 08/15/22............................. 60,010 57,343,096 6.750%, 11/01/25............................. 32,200 43,269,941 -------------- TOTAL AGENCY OBLIGATIONS......................... 2,180,506,022 -------------- U.S. TREASURY OBLIGATIONS -- (44.9%) U.S. Treasury Bonds 9.000%, 11/15/18............................. 86,500 112,666,250 8.875%, 02/15/19............................. 16,000 20,978,752 8.125%, 08/15/19............................. 165,500 215,744,807 8.750%, 08/15/20............................. 85,200 117,882,209 8.125%, 05/15/21............................. 116,100 160,444,743 8.125%, 08/15/21............................. 119,500 166,618,491 7.250%, 08/15/22............................. 65,000 89,248,055 6.250%, 08/15/23............................. 54,000 71,474,076 7.500%, 11/15/24............................. 73,300 107,464,690 6.875%, 08/15/25............................. 15,000 21,418,365 6.000%, 02/15/26............................. 37,000 49,967,353 6.750%, 08/15/26............................. 47,500 68,292,365 6.625%, 02/15/27............................. 29,000 41,615,000 5.250%, 11/15/28............................. 32,000 41,872,512 5.250%, 02/15/29............................. 17,000 22,272,652 U.S. Treasury Notes 3.125%, 04/30/17............................. 20,000 21,175,000 2.375%, 05/31/18............................. 25,800 26,838,037 2.250%, 07/31/18............................. 128,800 133,348,186 1.375%, 09/30/18............................. 84,600 84,712,349 3.625%, 02/15/20............................. 45,000 49,401,540 2.000%, 09/30/20............................. 57,000 57,409,716 3.125%, 05/15/21............................. 96,000 102,742,464 -------------- TOTAL U.S. TREASURY OBLIGATIONS.................. 1,783,587,612 -------------- Shares ------ - TEMPORARY CASH INVESTMENTS -- (0.2%) State Street Institutional U.S. Government Money Market Fund..................................... 9,501,331 9,501,331 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $3,872,570,457).......................... $3,973,594,965 ============== 44 DFA INTERMEDIATE GOVERNMENT FIXED INCOME PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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................. -- $2,180,506,022 -- $2,180,506,022 U.S. Treasury Obligations.......... -- 1,783,587,612 -- 1,783,587,612 Temporary Cash Investments......... $9,501,331 -- -- 9,501,331 ---------- -------------- -- -------------- TOTAL.............................. $9,501,331 $3,964,093,634 -- $3,973,594,965 ========== ============== == ============== See accompanying Notes to Financial Statements. 45 DFA SHORT-TERM EXTENDED QUALITY PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Face Amount^ Value+ ------- ------ (000) AGENCY OBLIGATIONS -- (2.8%) Federal Farm Credit Bank 4.875%, 12/16/15............................. 1,797 $ 1,890,422 Federal Home Loan Bank 4.875%, 05/17/17............................. 15,320 16,880,679 1.875%, 03/08/19............................. 8,000 8,065,696 Federal Home Loan Mortgage Corporation 5.000%, 04/18/17............................. 12,998 14,294,446 # 1.250%, 05/12/17............................. 4,642 4,686,911 # 1.000%, 07/28/17............................. 5,571 5,581,223 1.000%, 09/29/17............................. 854 852,939 # 1.750%, 05/30/19............................. 5,000 5,005,930 Federal National Mortgage Association # 4.875%, 12/15/16............................. 13,927 15,172,868 # 1.250%, 01/30/17............................. 4,642 4,696,748 5.000%, 02/13/17............................. 4,642 5,088,463 1.875%, 09/18/18............................. 9,285 9,441,805 # 1.875%, 02/19/19............................. 10,000 10,129,400 Tennessee Valley Authority 1.750%, 10/15/18............................. 9,285 9,340,274 ------------ TOTAL AGENCY OBLIGATIONS......................... 111,127,804 ------------ BONDS -- (91.4%) 3M Co. 1.375%, 09/29/16............................. 4,285 4,346,730 # 1.000%, 06/26/17............................. 6,499 6,488,270 ABB Finance USA, Inc. # 1.625%, 05/08/17............................. 2,453 2,474,223 AbbVie, Inc. # 1.200%, 11/06/15............................. 4,642 4,668,134 ACE INA Holdings, Inc. 5.600%, 05/15/15............................. 3,312 3,399,596 2.600%, 11/23/15............................. 15,784 16,107,020 Actavis, Inc. 1.875%, 10/01/17............................. 16,563 16,417,494 Aetna, Inc. 2.200%, 03/15/19............................. 5,979 5,969,392 Aflac, Inc. # 3.450%, 08/15/15............................. 1,741 1,780,381 # 2.650%, 02/15/17............................. 19,654 20,286,230 African Development Bank 1.125%, 03/15/17............................. 6,499 6,543,408 Agilent Technologies, Inc. 6.500%, 11/01/17............................. 1,962 2,261,798 Air Products & Chemicals, Inc. 2.000%, 08/02/16............................. 11,931 12,181,825 Allergan, Inc. # 5.750%, 04/01/16............................. 516 549,285 Altria Group, Inc. 4.125%, 09/11/15............................. 7,910 8,144,547 Face Amount^ Value+ ------- ------ (000) Amazon.com, Inc. # 0.650%, 11/27/15............................. 4,957 $ 4,962,175 American Express Credit Corp. # 2.800%, 09/19/16............................. 19,219 19,873,061 American Honda Finance Corp. 2.125%, 10/10/18............................. 28,504 28,747,139 American International Group, Inc. 5.600%, 10/18/16............................. 12,558 13,636,230 5.850%, 01/16/18............................. 7,209 8,124,283 Ameriprise Financial, Inc. 5.650%, 11/15/15............................. 928 974,455 Amgen, Inc. 4.850%, 11/18/14............................. 5,171 5,179,289 Anadarko Petroleum Corp. 5.950%, 09/15/16............................. 17,584 19,109,183 Anheuser-Busch Cos., LLC 5.000%, 01/15/15............................. 1,857 1,873,932 5.050%, 10/15/16............................. 4,924 5,305,935 Anheuser-Busch InBev Worldwide, Inc. 1.375%, 07/15/17............................. 22,283 22,313,193 Aon Corp. 3.500%, 09/30/15............................. 3,785 3,882,233 Apache Corp. 5.625%, 01/15/17............................. 6,834 7,480,093 1.750%, 04/15/17............................. 4,642 4,683,866 Apple, Inc. # 1.000%, 05/03/18............................. 7,428 7,287,418 # 2.100%, 05/06/19............................. 45,000 45,253,620 Applied Materials, Inc. 2.650%, 06/15/16............................. 3,850 3,959,941 Asian Development Bank 1.125%, 03/15/17............................. 4,642 4,675,812 1.750%, 09/11/18............................. 8,286 8,388,722 1.875%, 04/12/19............................. 20,000 20,214,200 Assurant, Inc. 2.500%, 03/15/18............................. 9,285 9,357,024 AT&T, Inc. 2.500%, 08/15/15............................. 10,522 10,682,545 2.400%, 08/15/16............................. 6,035 6,183,340 1.600%, 02/15/17............................. 4,642 4,681,118 Australia & New Zealand Banking Group, Ltd. 1.875%, 10/06/17............................. 4,642 4,708,385 1.450%, 05/15/18............................. 4,642 4,584,987 2.250%, 06/13/19............................. 44,905 44,975,770 Austria Government International Bond 1.750%, 06/17/16............................. 2,785 2,841,396 Autodesk, Inc. 1.950%, 12/15/17............................. 975 980,181 46 DFA SHORT-TERM EXTENDED QUALITY PORTFOLIO CONTINUED Face Amount^ Value+ ------- ------ (000) AutoZone, Inc. 6.950%, 06/15/16............................. 697 $ 760,675 Avnet, Inc. 6.000%, 09/01/15............................. 1,857 1,932,173 Baker Hughes, Inc. 7.500%, 11/15/18............................. 859 1,038,592 Bank Nederlandse Gemeenten NV 1.375%, 09/27/17............................. 12,998 13,082,357 1.375%, 03/19/18............................. 23,210 23,228,104 Bank of America Corp. 4.500%, 04/01/15............................. 9,285 9,435,194 # 3.750%, 07/12/16............................. 9,285 9,693,048 # 2.000%, 01/11/18............................. 5,385 5,396,755 # 2.650%, 04/01/19............................. 2,000 2,018,154 Bank of Montreal # 2.375%, 01/25/19............................. 305 308,261 Bank of New York Mellon Corp. (The) # 2.950%, 06/18/15............................. 5,862 5,957,275 Bank of Nova Scotia (The) 3.400%, 01/22/15............................. 1,857 1,869,301 2.900%, 03/29/16............................. 9,285 9,564,943 Barclays Bank P.L.C. 3.900%, 04/07/15............................. 350 355,056 5.000%, 09/22/16............................. 300 322,057 Baxter International, Inc. 1.850%, 06/15/18............................. 18,170 18,164,440 BB&T Corp. 2.150%, 03/22/17............................. 5,339 5,448,273 1.450%, 01/12/18............................. 1,834 1,817,087 Beam Suntory, Inc. 1.750%, 06/15/18............................. 18,569 18,412,018 Becton Dickinson and Co. 1.750%, 11/08/16............................. 2,359 2,383,675 Belgium Government International Bond 2.750%, 03/05/15............................. 1,857 1,872,647 Berkshire Hathaway Finance Corp. # 0.950%, 08/15/16............................. 9,285 9,337,237 1.600%, 05/15/17............................. 928 939,339 # 1.300%, 05/15/18............................. 1,486 1,471,342 Berkshire Hathaway, Inc. 2.200%, 08/15/16............................. 4,642 4,765,524 1.900%, 01/31/17............................. 4,642 4,736,363 # 2.100%, 08/14/19............................. 27,500 27,651,057 BHP Billiton Finance USA, Ltd. 1.625%, 02/24/17............................. 10,698 10,831,800 BNP Paribas SA 3.250%, 03/11/15............................. 3,714 3,750,876 1.250%, 12/12/16............................. 18,569 18,603,130 2.375%, 09/14/17............................. 3,273 3,335,874 Boeing Capital Corp. 2.900%, 08/15/18............................. 7,091 7,384,404 Boston Scientific Corp. 6.400%, 06/15/16............................. 928 1,005,050 Face Amount^ Value+ ------- ------ (000) BP Capital Markets P.L.C. 3.125%, 10/01/15............................. 5,292 $ 5,420,691 # 2.248%, 11/01/16............................. 8,450 8,649,378 1.846%, 05/05/17............................. 3,241 3,286,520 4.750%, 03/10/19............................. 1,000 1,102,581 Branch Banking & Trust Co. # 2.300%, 10/15/18............................. 13,927 14,155,041 Bristol-Myers Squibb Co. # 1.750%, 03/01/19............................. 8,000 7,932,728 British Columbia, Province of Canada 2.850%, 06/15/15............................. 3,714 3,774,353 2.100%, 05/18/16............................. 4,642 4,757,298 1.200%, 04/25/17............................. 9,285 9,356,847 British Telecommunications P.L.C. 2.000%, 06/22/15............................. 11,341 11,443,545 1.250%, 02/14/17............................. 3,528 3,518,933 Brown-Forman Corp. 1.000%, 01/15/18............................. 6,425 6,319,482 Buckeye Partners L.P. 2.650%, 11/15/18............................. 3,389 3,385,309 Caisse d'Amortissement de la Dette Sociale # 2.375%, 03/31/16............................. 4,642 4,766,378 2.125%, 04/12/17............................. 13,741 14,135,559 Canada Government International Bond 0.875%, 02/14/17............................. 9,285 9,311,379 Canadian Imperial Bank of Commerce 0.900%, 10/01/15............................. 10,544 10,591,691 Canadian National Railway Co. 1.450%, 12/15/16............................. 464 469,605 Canadian Natural Resources, Ltd. 5.700%, 05/15/17............................. 7,627 8,417,935 Capital One Bank USA NA 2.300%, 06/05/19............................. 5,000 4,971,150 Capital One Financial Corp. # 2.450%, 04/24/19............................. 8,100 8,123,992 Cardinal Health, Inc. # 1.700%, 03/15/18............................. 8,031 7,996,692 Caterpillar Financial Services Corp. 2.650%, 04/01/16............................. 7,428 7,632,203 1.000%, 11/25/16............................. 9,285 9,320,664 2.450%, 09/06/18............................. 7,079 7,235,878 CBS Corp. 1.950%, 07/01/17............................. 8,064 8,174,211 2.300%, 08/15/19............................. 4,637 4,576,116 Celgene Corp. 2.450%, 10/15/15............................. 3,858 3,922,128 Cenovus Energy, Inc. 5.700%, 10/15/19............................. 5,000 5,705,120 47 DFA SHORT-TERM EXTENDED QUALITY PORTFOLIO CONTINUED Face Amount^ Value+ ------- ------ (000) CenterPoint Energy Resources Corp. 6.125%, 11/01/17............................. 511 $ 580,485 CF Industries, Inc. 6.875%, 05/01/18............................. 11,847 13,689,173 Charles Schwab Corp. (The) # 2.200%, 07/25/18............................. 4,828 4,881,456 Chevron Corp. 1.104%, 12/05/17............................. 4,967 4,933,418 # 1.718%, 06/24/18............................. 24,743 24,972,986 Cigna Corp. # 2.750%, 11/15/16............................. 9,586 9,896,213 Cisco Systems, Inc. # 2.125%, 03/01/19............................. 27,000 27,118,017 Citigroup, Inc. 4.450%, 01/10/17............................. 6,499 6,918,283 6.000%, 08/15/17............................. 6,499 7,251,370 2.500%, 09/26/18............................. 6,499 6,578,249 # 2.550%, 04/08/19............................. 10,000 10,105,110 Coca-Cola Co. (The) 1.500%, 11/15/15............................. 4,944 4,998,117 1.650%, 11/01/18............................. 19,307 19,322,890 Colgate-Palmolive Co. 1.500%, 11/01/18............................. 5,107 5,071,951 1.750%, 03/15/19............................. 1,750 1,743,882 Comcast Corp. 6.500%, 01/15/17............................. 14,559 16,257,497 # 6.300%, 11/15/17............................. 3,714 4,241,715 5.700%, 05/15/18............................. 6,499 7,378,594 Comerica, Inc. 3.000%, 09/16/15............................. 1,857 1,894,853 2.125%, 05/23/19............................. 2,300 2,290,308 Commonwealth Bank of Australia 1.900%, 09/18/17............................. 10,213 10,355,073 2.500%, 09/20/18............................. 11,884 12,131,770 # 2.250%, 03/13/19............................. 5,000 5,023,475 # 2.300%, 09/06/19............................. 43,083 43,124,446 Computer Sciences Corp. 6.500%, 03/15/18............................. 8,683 9,635,351 ConAgra Foods, Inc. # 1.900%, 01/25/18............................. 19,083 18,988,883 ConocoPhillips Co. # 1.050%, 12/15/17............................. 17,314 17,130,904 Constellation Energy Group, Inc. 4.550%, 06/15/15............................. 9,020 9,223,374 Cooperatieve Centrale Raiffeisen- Boerenleenbank BA 2.125%, 10/13/15............................. 15,287 15,532,846 2.250%, 01/14/19............................. 43,557 44,082,428 Costco Wholesale Corp. 1.125%, 12/15/17............................. 15,784 15,679,242 Council Of Europe Development Bank # 1.500%, 06/19/17............................. 12,070 12,240,670 Face Amount^ Value+ ------- ------ (000) CR Bard, Inc. 1.375%, 01/15/18............................. 3,598 $ 3,577,470 Crane Co. 2.750%, 12/15/18............................. 7,897 8,032,860 Credit Suisse New York 3.500%, 03/23/15............................. 1,853 1,874,823 # 2.300%, 05/28/19............................. 5,000 4,989,505 Credit Suisse USA, Inc. 4.875%, 01/15/15............................. 3,714 3,746,018 CVS Health Corp. 5.750%, 06/01/17............................. 280 310,788 Deutsche Bank AG # 6.000%, 09/01/17............................. 11,188 12,539,678 Development Bank of Japan, Inc. 2.875%, 04/20/15............................. 1,900 1,922,933 1.875%, 10/03/18............................. 7,706 7,787,298 Devon Energy Corp. # 1.200%, 12/15/16............................. 956 966,983 Dexia Credit Local SA 2.250%, 01/30/19............................. 15,000 15,235,440 Diageo Capital P.L.C. # 1.500%, 05/11/17............................. 11,545 11,610,922 Diamond Offshore Drilling, Inc. 4.875%, 07/01/15............................. 1,434 1,475,121 DIRECTV Holdings LLC / DIRECTV Financing Co., Inc. 3.550%, 03/15/15............................. 8,356 8,441,031 Dollar General Corp. 1.875%, 04/15/18............................. 11,957 11,450,274 Dominion Resources, Inc. 1.950%, 08/15/16............................. 13,927 14,143,119 6.000%, 11/30/17............................. 1,823 2,055,079 Dover Corp. 4.875%, 10/15/15............................. 5,571 5,804,074 Dow Chemical Co. (The) # 2.500%, 02/15/16............................. 7,103 7,251,481 Dr. Pepper Snapple Group, Inc. # 2.900%, 01/15/16............................. 11,168 11,454,113 Duke Energy Corp. 3.350%, 04/01/15............................. 2,066 2,090,267 1.625%, 08/15/17............................. 10,306 10,367,918 Eastman Chemical Co. 3.000%, 12/15/15............................. 4,113 4,208,664 2.400%, 06/01/17............................. 7,892 8,035,729 eBay, Inc. 1.625%, 10/15/15............................. 2,135 2,153,935 1.350%, 07/15/17............................. 1,592 1,580,975 Ecolab, Inc. 1.000%, 08/09/15............................. 9,285 9,315,186 EI du Pont de Nemours & Co. 6.000%, 07/15/18............................. 9,187 10,528,467 EMC Corp. 1.875%, 06/01/18............................. 22,925 22,788,459 48 DFA SHORT-TERM EXTENDED QUALITY PORTFOLIO CONTINUED Face Amount^ Value+ ------- ------ (000) Enbridge Energy Partners L.P. 5.875%, 12/15/16............................. 928 $ 1,013,644 Encana Corp. 5.900%, 12/01/17............................. 5,975 6,705,157 Enterprise Products Operating LLC 5.000%, 03/01/15............................. 928 941,273 1.250%, 08/13/15............................. 2,785 2,795,240 3.200%, 02/01/16............................. 4,642 4,777,797 EOG Resources, Inc. 2.950%, 06/01/15............................. 4,642 4,708,534 # 2.500%, 02/01/16............................. 2,367 2,417,050 # 5.875%, 09/15/17............................. 9,145 10,263,004 EUROFIMA 5.250%, 04/07/16............................. 4,642 4,955,149 European Bank for Reconstruction & Development 2.750%, 04/20/15............................. 1,857 1,879,455 European Investment Bank 4.875%, 01/17/17............................. 4,642 5,057,626 # 1.625%, 06/15/17............................. 3,714 3,782,078 1.125%, 09/15/17............................. 2,785 2,795,355 1.875%, 03/15/19............................. 5,000 5,057,250 Exelon Corp. 4.900%, 06/15/15............................. 12,534 12,853,391 Export Development Canada 2.250%, 05/28/15............................. 930 940,909 1.250%, 10/26/16............................. 10,215 10,332,023 Express Scripts Holding Co. 3.125%, 05/15/16............................. 12,070 12,496,928 Exxon Mobil Corp. 1.819%, 03/15/19............................. 26,614 26,712,738 Fifth Third Bancorp 3.625%, 01/25/16............................. 13,634 14,092,730 # 2.300%, 03/01/19............................. 10,000 10,024,640 Fifth Third Bank 1.450%, 02/28/18............................. 3,000 2,974,761 Finland Government International Bond 2.250%, 03/17/16............................. 6,499 6,662,086 FMS Wertmanagement AoeR 1.000%, 11/21/17............................. 23,211 23,119,084 Ford Motor Credit Co. LLC 5.000%, 05/15/18............................. 19,777 21,612,424 Freeport-McMoRan, Inc. 2.150%, 03/01/17............................. 3,881 3,946,733 General Dynamics Corp. # 1.000%, 11/15/17............................. 7,149 7,086,904 General Electric Capital Corp. 3.750%, 11/14/14............................. 2,785 2,787,376 Face Amount^ Value+ ------- ------ (000) 2.250%, 11/09/15............................. 1,857 $ 1,891,420 2.950%, 05/09/16............................. 3,714 3,840,179 Genworth Holdings, Inc. # 6.515%, 05/22/18............................. 446 502,237 Georgia Power Co. 0.750%, 08/10/15............................. 13,347 13,355,329 5.250%, 12/15/15............................. 2,823 2,976,803 GlaxoSmithKline Capital P.L.C. 1.500%, 05/08/17............................. 19,442 19,610,523 Goldman Sachs Group, Inc. (The) # 3.625%, 02/07/16............................. 13,927 14,373,709 # 6.250%, 09/01/17............................. 925 1,036,835 Google, Inc. # 2.125%, 05/19/16............................. 13,648 13,976,698 Halliburton Co. 1.000%, 08/01/16............................. 8,444 8,483,138 Hartford Financial Services Group, Inc. (The) 4.000%, 03/30/15............................. 1,857 1,882,279 Hershey Co. (The) 4.850%, 08/15/15............................. 464 480,391 # 1.500%, 11/01/16............................. 4,642 4,712,345 Hess Corp. 8.125%, 02/15/19............................. 5,000 6,129,770 Hewlett-Packard Co. 2.200%, 12/01/15............................. 4,924 4,996,053 2.600%, 09/15/17............................. 928 950,997 # 5.500%, 03/01/18............................. 4,642 5,176,062 2.750%, 01/14/19............................. 4,410 4,435,388 Hillshire Brands Co. (The) 2.750%, 09/15/15............................. 928 942,128 Home Depot, Inc. (The) 5.400%, 03/01/16............................. 836 889,094 HSBC Finance Corp. 5.500%, 01/19/16............................. 1,857 1,960,414 HSBC USA, Inc. # 1.625%, 01/16/18............................. 14,670 14,661,418 Huntington Bancshares, Inc. # 2.600%, 08/02/18............................. 13,542 13,746,295 Intel Corp. 1.950%, 10/01/16............................. 6,141 6,274,137 Inter-American Development Bank 1.125%, 03/15/17............................. 761 769,709 0.875%, 03/15/18............................. 9,285 9,177,062 Intercontinental Exchange, Inc. 2.500%, 10/15/18............................. 12,472 12,669,981 International Bank for Reconstruction & Development 2.375%, 05/26/15............................. 1,857 1,879,927 1.000%, 09/15/16............................. 1,857 1,871,026 0.875%, 04/17/17............................. 11,141 11,183,158 49 DFA SHORT-TERM EXTENDED QUALITY PORTFOLIO CONTINUED Face Amount^ Value+ ------- ------ (000) International Business Machines Corp. 1.250%, 02/08/18............................. 1,200 $ 1,190,920 # 1.950%, 02/12/19............................. 11,963 11,958,669 # 1.875%, 05/15/19............................. 5,045 5,020,290 International Finance Corp. 0.875%, 06/15/18............................. 2,785 2,736,538 Intesa Sanpaolo SpA # 3.875%, 01/16/18............................. 2,010 2,099,491 Japan Bank for International Cooperation 2.250%, 07/13/16............................. 4,642 4,773,735 1.750%, 07/31/18............................. 4,642 4,684,015 Japan Finance Organization for Municipalities 2.500%, 09/12/18............................. 7,700 7,955,147 2.125%, 03/06/19............................. 5,000 5,057,850 Jefferies Group LLC # 5.125%, 04/13/18............................. 1,741 1,886,906 John Deere Capital Corp. # 2.000%, 01/13/17............................. 6,128 6,257,172 Johnson & Johnson # 2.150%, 05/15/16............................. 1,857 1,902,108 Johnson Controls, Inc. 5.500%, 01/15/16............................. 5,841 6,170,146 2.600%, 12/01/16............................. 5,199 5,366,865 JPMorgan Chase & Co. # 3.400%, 06/24/15............................. 2,321 2,362,920 3.150%, 07/05/16............................. 11,141 11,524,351 2.000%, 08/15/17............................. 1,625 1,644,195 Kellogg Co. # 1.875%, 11/17/16............................. 4,814 4,895,039 1.750%, 05/17/17............................. 4,076 4,111,539 KeyBank NA 1.100%, 11/25/16............................. 11,141 11,151,606 1.650%, 02/01/18............................. 2,000 1,995,052 KeyCorp 3.750%, 08/13/15............................. 6,550 6,705,274 KFW 2.000%, 06/01/16............................. 928 950,244 4.875%, 01/17/17............................. 4,642 5,057,626 1.250%, 02/15/17............................. 12,998 13,140,692 0.875%, 09/05/17............................. 4,642 4,628,863 1.875%, 04/01/19............................. 7,000 7,079,240 Kimberly-Clark Corp. 1.900%, 05/22/19............................. 4,700 4,694,158 Kinder Morgan Energy Partners L.P. 3.500%, 03/01/16............................. 10,213 10,522,679 Kohl's Corp. # 6.250%, 12/15/17............................. 4,642 5,237,313 Kommunalbanken A.S. 2.375%, 01/19/16............................. 1,392 1,424,915 1.000%, 09/26/17............................. 3,714 3,702,019 1.000%, 03/15/18............................. 27,854 27,548,497 1.750%, 05/28/19............................. 20,000 20,008,480 Face Amount^ Value+ ------- ------ (000) Kommunekredit 1.125%, 03/15/18............................. 9,285 $ 9,229,643 Kommuninvest I Sverige AB 1.000%, 10/24/17............................. 23,044 22,953,437 Kraft Foods Group, Inc. 1.625%, 06/04/15............................. 10,874 10,940,940 Laboratory Corp. of America Holdings # 2.200%, 08/23/17............................. 21,191 21,504,839 Landeskreditbank Baden- Wuerttemberg Foerderbank 2.250%, 07/15/16............................. 7,242 7,448,629 Landwirtschaftliche Rentenbank 0.875%, 09/12/17............................. 11,699 11,650,437 Lloyds Bank P.L.C. 4.200%, 03/28/17............................. 10,120 10,792,170 Lockheed Martin Corp. # 2.125%, 09/15/16............................. 1,230 1,258,634 Loews Corp. 5.250%, 03/15/16............................. 1,857 1,971,116 Lorillard Tobacco Co. 2.300%, 08/21/17............................. 12,353 12,482,175 Lowe's Cos., Inc. 5.000%, 10/15/15............................. 9,285 9,676,261 Manitoba, Province of Canada # 2.625%, 07/15/15............................. 7,428 7,550,488 Marathon Oil Corp. # 0.900%, 11/01/15............................. 16,535 16,551,072 Marsh & McLennan Cos., Inc. 2.300%, 04/01/17............................. 8,430 8,588,492 MasterCard, Inc. 2.000%, 04/01/19............................. 14,850 14,825,854 Mattel, Inc. 2.350%, 05/06/19............................. 10,000 9,937,090 McDonald's Corp. 5.350%, 03/01/18............................. 3,706 4,151,439 McKesson Corp. # 1.400%, 03/15/18............................. 9,599 9,438,687 Medtronic, Inc. 3.000%, 03/15/15............................. 1,035 1,044,731 Merck Sharp & Dohme Corp. 4.750%, 03/01/15............................. 2,785 2,825,182 MetLife, Inc. 5.000%, 06/15/15............................. 4,642 4,769,534 Microsoft Corp. 2.500%, 02/08/16............................. 10,213 10,470,020 # 1.625%, 12/06/18............................. 9,200 9,205,906 Molson Coors Brewing Co. # 2.000%, 05/01/17............................. 915 928,980 Mondelez International, Inc. 6.500%, 08/11/17............................. 1,000 1,128,186 50 DFA SHORT-TERM EXTENDED QUALITY PORTFOLIO CONTINUED Face Amount^ Value+ ------- ------ (000) Monsanto Co. 1.850%, 11/15/18............................. 27,970 $27,874,371 Morgan Stanley 3.800%, 04/29/16............................. 650 675,641 # 4.750%, 03/22/17............................. 23,738 25,507,146 MUFG Union Bank NA 3.000%, 06/06/16............................. 25,909 26,701,038 Municipality Finance P.L.C. 2.375%, 05/16/16............................. 18,568 19,095,034 1.125%, 04/17/18............................. 23,211 23,039,703 Mylan, Inc. 2.550%, 03/28/19............................. 2,714 2,701,809 National Australia Bank, Ltd. 1.300%, 07/25/16............................. 1,750 1,765,799 2.250%, 07/01/19............................. 17,475 17,477,674 National City Corp. 4.900%, 01/15/15............................. 10,466 10,554,030 Nederlandse Waterschapsbank NV 3.000%, 03/17/15............................. 2,785 2,813,479 2.125%, 06/16/16............................. 5,571 5,710,515 1.875%, 03/13/19............................. 40,000 40,287,200 NetApp, Inc. # 2.000%, 12/15/17............................. 9,285 9,365,213 Network Rail Infrastructure Finance P.L.C. 1.250%, 08/31/16............................. 4,271 4,320,680 Newell Rubbermaid, Inc. 6.250%, 04/15/18............................. 12,070 13,712,039 NextEra Energy Capital Holdings, Inc. 2.600%, 09/01/15............................. 13,927 14,144,526 Nippon Telegraph & Telephone Corp. 1.400%, 07/18/17............................. 1,323 1,324,622 Nisource Finance Corp. 6.400%, 03/15/18............................. 2,785 3,183,422 Noble Holding International, Ltd. 2.500%, 03/15/17............................. 10,097 10,230,634 Nomura Holdings, Inc. 5.000%, 03/04/15............................. 2,785 2,821,492 # 2.000%, 09/13/16............................. 6,852 6,938,205 Nordea Bank AB # 2.375%, 04/04/19............................. 16,780 16,967,315 Nordic Investment Bank 0.750%, 01/17/18............................. 10,213 10,068,343 1.875%, 06/14/19............................. 5,000 5,050,975 Novartis Capital Corp. 2.900%, 04/24/15............................. 2,043 2,067,733 NRW Bank 1.875%, 07/01/19............................. 20,000 19,994,800 Nucor Corp. 5.750%, 12/01/17............................. 2,228 2,484,652 Occidental Petroleum Corp. 2.500%, 02/01/16............................. 4,977 5,087,216 Face Amount^ Value+ ------- ------ (000) Oesterreichische Kontrollbank AG 1.750%, 10/05/15............................. 1,764 $ 1,788,064 2.000%, 06/03/16............................. 3,528 3,611,000 1.125%, 05/29/18............................. 18,569 18,440,317 Ohio Power Co. 6.000%, 06/01/16............................. 1,857 2,004,479 Omnicom Group, Inc. 5.900%, 04/15/16............................. 9,168 9,798,052 ONEOK Partners L.P. 6.150%, 10/01/16............................. 10,846 11,821,728 Ontario, Province of Canada # 4.950%, 11/28/16............................. 9,285 10,075,098 1.200%, 02/14/18............................. 28,569 28,375,359 1.650%, 09/27/19............................. 5,000 4,927,785 Oracle Corp. 5.250%, 01/15/16............................. 3,714 3,921,910 # 1.200%, 10/15/17............................. 4,735 4,719,526 Orange SA 2.125%, 09/16/15............................. 6,040 6,106,041 PACCAR Financial Corp. 1.600%, 03/15/17............................. 422 426,770 PepsiCo, Inc. 5.000%, 06/01/18............................. 8,697 9,675,186 Petro-Canada 6.050%, 05/15/18............................. 5,571 6,362,667 Pfizer, Inc. # 1.500%, 06/15/18............................. 16,248 16,203,269 # 2.100%, 05/15/19............................. 10,000 10,050,140 Philip Morris International, Inc. # 1.625%, 03/20/17............................. 4,642 4,696,395 Pioneer Natural Resources Co. 6.875%, 05/01/18............................. 7,000 8,025,024 Plains All American Pipeline L.P. / PAA Finance Corp. 6.500%, 05/01/18............................. 2,917 3,354,182 Potash Corp. of Saskatchewan, Inc. 3.750%, 09/30/15............................. 2,785 2,863,286 # 3.250%, 12/01/17............................. 1,602 1,682,233 PPG Industries, Inc. 1.900%, 01/15/16............................. 3,570 3,618,648 Praxair, Inc. 1.250%, 11/07/18............................. 11,527 11,301,209 Procter & Gamble Co. (The) 1.800%, 11/15/15............................. 1,642 1,666,385 Progress Energy, Inc. 5.625%, 01/15/16............................. 1,857 1,961,185 Prudential Financial, Inc. # 3.000%, 05/12/16............................. 8,356 8,618,779 Quest Diagnostics, Inc. 5.450%, 11/01/15............................. 928 968,335 3.200%, 04/01/16............................. 1,857 1,911,991 Questar Corp. 2.750%, 02/01/16............................. 8,718 8,921,522 51 DFA SHORT-TERM EXTENDED QUALITY PORTFOLIO CONTINUED Face Amount^ Value+ ------- ------ (000) Qwest Corp. 6.500%, 06/01/17............................. 928 $ 1,029,127 Raytheon Co. 6.750%, 03/15/18............................. 3,804 4,419,594 Republic Services, Inc. 3.800%, 05/15/18............................. 5,040 5,358,382 Rio Tinto Finance USA, Ltd. 2.500%, 05/20/16............................. 7,750 7,944,083 2.250%, 09/20/16............................. 7,428 7,594,261 Roper Industries, Inc. 2.050%, 10/01/18............................. 1,750 1,740,954 Royal Bank of Canada # 2.300%, 07/20/16............................. 5,107 5,242,749 # 1.450%, 09/09/16............................. 11,299 11,410,069 Royal Bank of Scotland Group P.L.C. 2.550%, 09/18/15............................. 16,712 16,950,480 Ryder System, Inc. # 2.500%, 03/01/18............................. 3,245 3,313,145 Sanofi 1.250%, 04/10/18............................. 9,661 9,586,369 Sempra Energy 6.500%, 06/01/16............................. 11,946 12,989,686 Shell International Finance BV # 1.125%, 08/21/17............................. 4,642 4,640,909 # 1.900%, 08/10/18............................. 5,000 5,051,210 # 2.000%, 11/15/18............................. 20,426 20,593,044 2.000%, 11/15/18............................. 2,700 2,722,081 Singapore Government Bond 2.500%, 06/01/19............................. SGD 17,500 14,345,055 Societe Generale SA 2.750%, 10/12/17............................. 7,428 7,645,024 Southern Power Co. 4.875%, 07/15/15............................. 1,857 1,909,581 Starbucks Corp. # 0.875%, 12/05/16............................. 1,578 1,579,750 2.000%, 12/05/18............................. 15,350 15,415,575 Starwood Hotels & Resorts Worldwide, Inc. 6.750%, 05/15/18............................. 4,768 5,502,472 State Street Corp. 2.875%, 03/07/16............................. 5,571 5,738,130 Statoil ASA 1.200%, 01/17/18............................. 2,186 2,174,668 1.150%, 05/15/18............................. 3,064 3,024,275 1.950%, 11/08/18............................. 9,285 9,335,538 Sumitomo Mitsui Banking Corp. # 2.450%, 01/10/19............................. 15,227 15,348,481 SunTrust Banks, Inc. 3.600%, 04/15/16............................. 9,285 9,650,606 Svensk Exportkredit AB 2.125%, 07/13/16............................. 9,285 9,525,482 1.750%, 05/30/17............................. 4,642 4,728,898 1.875%, 06/17/19............................. 11,000 11,064,240 Face Amount^ Value+ ------- ------ (000) Svenska Handelsbanken AB 2.500%, 01/25/19............................. 30,942 $31,660,442 # 2.250%, 06/17/19............................. 10,000 10,061,440 Symantec Corp. # 2.750%, 06/15/17............................. 4,642 4,717,795 TD Ameritrade Holding Corp. 4.150%, 12/01/14............................. 7,956 7,977,728 Tech Data Corp. 3.750%, 09/21/17............................. 4,642 4,819,705 Texas Instruments, Inc. 2.375%, 05/16/16............................. 8,585 8,825,972 Thermo Fisher Scientific, Inc. 3.200%, 05/01/15............................. 1,207 1,221,278 # 1.850%, 01/15/18............................. 8,649 8,654,821 Thomson Reuters Corp. 1.300%, 02/23/17............................. 7,520 7,517,676 Time Warner, Inc. # 5.875%, 11/15/16............................. 11,591 12,685,283 Toronto-Dominion Bank (The) # 2.375%, 10/19/16............................. 2,785 2,872,235 # 2.625%, 09/10/18............................. 9,285 9,513,105 2.125%, 07/02/19............................. 35,000 34,870,710 Total Capital International SA # 2.125%, 01/10/19............................. 10,139 10,197,553 2.100%, 06/19/19............................. 25,735 25,719,559 Total Capital SA 3.125%, 10/02/15............................. 4,642 4,755,622 Toyota Motor Credit Corp. 2.800%, 01/11/16............................. 9,749 10,008,362 2.000%, 09/15/16............................. 4,642 4,743,716 # 2.100%, 01/17/19............................. 27,428 27,605,404 2.125%, 07/18/19............................. 12,500 12,514,538 Transatlantic Holdings, Inc. 5.750%, 12/14/15............................. 500 526,441 TransCanada PipeLines, Ltd. 0.875%, 03/02/15............................. 3,621 3,626,211 3.400%, 06/01/15............................. 5,571 5,661,117 Travelers Cos., Inc. (The) 5.500%, 12/01/15............................. 7,892 8,305,422 Tyson Foods, Inc. 2.650%, 08/15/19............................. 11,500 11,609,618 UBS AG # 5.875%, 12/20/17............................. 4,828 5,438,288 Unilever Capital Corp. 2.750%, 02/10/16............................. 8,430 8,650,141 United Kingdom Gilt 1.250%, 07/22/18............................. GBP 17,641 28,179,680 4.500%, 03/07/19............................. GBP 25,000 45,203,538 United Technologies Corp. # 1.800%, 06/01/17............................. 13,054 13,283,933 UnitedHealth Group, Inc. 6.000%, 06/15/17............................. 2,600 2,911,009 # 1.400%, 10/15/17............................. 5,756 5,786,956 52 DFA SHORT-TERM EXTENDED QUALITY PORTFOLIO CONTINUED Face Amount^ Value+ ------- ------ (000) US Bancorp 2.200%, 04/25/19............................. 15,000 $15,072,945 Valero Energy Corp. 6.125%, 06/15/17............................. 3,253 3,616,975 Verizon Communications, Inc. # 2.000%, 11/01/16............................. 16,160 16,446,581 Viacom, Inc. 6.250%, 04/30/16............................. 4,642 5,007,706 # 2.500%, 12/15/16............................. 7,428 7,617,496 Vodafone Group P.L.C. 5.625%, 02/27/17............................. 4,642 5,078,199 Wal-Mart Stores, Inc. 0.600%, 04/11/16............................. 2,785 2,786,938 2.800%, 04/15/16............................. 7,428 7,671,260 5.375%, 04/05/17............................. 5,811 6,413,031 1.950%, 12/15/18............................. 6,364 6,401,974 Walgreen Co. 1.000%, 03/13/15............................. 12,848 12,868,428 1.800%, 09/15/17............................. 8,356 8,386,524 5.250%, 01/15/19............................. 446 498,333 Walt Disney Co. (The) # 1.125%, 02/15/17............................. 10,761 10,800,041 Waste Management, Inc. 2.600%, 09/01/16............................. 6,029 6,209,786 WellPoint, Inc. 5.875%, 06/15/17............................. 1,519 1,689,412 Wells Fargo & Co. 2.625%, 12/15/16............................. 9,883 10,229,992 # 2.100%, 05/08/17............................. 7,165 7,319,678 # 2.125%, 04/22/19............................. 6,000 6,000,336 Face Amount^ Value+ ------- ------ (000) Western Union Co. (The) 5.930%, 10/01/16............................. 7,347 $ 7,986,380 Westpac Banking Corp. 3.000%, 12/09/15............................. 6,035 6,193,340 # 1.200%, 05/19/17............................. 10,000 9,994,150 2.000%, 08/14/17............................. 6,499 6,620,148 # 2.250%, 01/17/19............................. 7,000 7,087,430 Whirlpool Corp. 7.750%, 07/15/16............................. 4,642 5,150,267 Williams Partners L.P. 3.800%, 02/15/15............................. 3,069 3,094,307 Wyndham Worldwide Corp. 2.500%, 03/01/18............................. 9,647 9,703,377 Xerox Corp. 2.750%, 03/15/19............................. 8,529 8,611,646 Xilinx, Inc. 2.125%, 03/15/19............................. 1,675 1,674,456 Yum! Brands, Inc. 6.250%, 04/15/16............................. 8,393 9,003,700 6.250%, 03/15/18............................. 754 850,335 -------------- TOTAL BONDS........................................ 3,668,915,584 -------------- Shares - ------ - SECURITIES LENDING COLLATERAL -- (5.8%) (S)@ DFA Short Term Investment Fund............... 20,129,460 232,897,853 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $3,997,983,623)............................ $4,012,941,241 ============== Summary of the Portfolio's investments as of October 31, 2014, 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............ -- $ 111,127,804 -- $ 111,127,804 Bonds......................... -- 3,668,915,584 -- 3,668,915,584 Securities Lending Collateral. -- 232,897,853 -- 232,897,853 Forward Currency Contracts**.. -- 934,821 -- 934,821 -- -------------- -- -------------- TOTAL......................... -- $4,013,876,062 -- $4,013,876,062 == ============== == ============== **Not reflected in the Schedule of Investments, valued at the unrealized appreciation/(depreciation) on the investment. (Note G) See accompanying Notes to Financial Statements. 53 DFA INTERMEDIATE-TERM EXTENDED QUALITY PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Face Amount Value+ - ------ ------ (000) AGENCY OBLIGATIONS -- (3.6%) Federal Farm Credit Bank 4.800%, 02/13/23............................. $ 900 $ 1,055,388 2.630%, 08/03/26............................. 9,000 8,583,705 5.770%, 01/05/27............................. 3,000 3,856,926 Federal Home Loan Bank # 5.250%, 12/09/22............................. 2,000 2,389,446 5.375%, 08/15/24............................. 4,000 4,858,812 5.750%, 06/12/26............................. 3,580 4,525,210 Federal Home Loan Mortgage Corporation # 2.375%, 01/13/22............................. 24,000 24,161,424 Federal National Mortgage Association 6.250%, 05/15/29............................. 20,000 27,348,000 Tennessee Valley Authority 6.750%, 11/01/25............................. 10,200 13,706,627 ----------- TOTAL AGENCY OBLIGATIONS......................... 90,485,538 ----------- BONDS -- (80.1%) 21st Century Fox America, Inc. 4.500%, 02/15/21............................. 2,800 3,057,804 3M Co. # 2.000%, 06/26/22............................. 3,000 2,872,854 Abbey National Treasury Services P.L.C. # 4.000%, 03/13/24............................. 10,720 11,070,319 AbbVie, Inc. # 2.900%, 11/06/22............................. 3,000 2,925,432 ACE INA Holdings, Inc. # 2.700%, 03/13/23............................. 8,000 7,785,848 3.350%, 05/15/24............................. 3,000 3,028,002 Actavis, Inc. # 3.250%, 10/01/22............................. 5,100 4,897,969 Aetna, Inc. # 3.950%, 09/01/20............................. 800 855,140 # 2.750%, 11/15/22............................. 9,000 8,677,854 Aflac, Inc. # 3.625%, 06/15/23............................. 6,000 6,084,066 Agilent Technologies, Inc. 5.000%, 07/15/20............................. 215 235,204 Allstate Corp. (The) # 3.150%, 06/15/23............................. 7,000 6,991,838 Altera Corp. # 4.100%, 11/15/23............................. 2,330 2,438,259 Altria Group, Inc. 4.750%, 05/05/21............................. 5,731 6,310,301 American Express Co. 2.650%, 12/02/22............................. 1,000 974,681 American International Group, Inc. 4.875%, 06/01/22............................. 3,000 3,345,021 Face Amount Value+ - ------ ------ (000) American Water Capital Corp. # 3.850%, 03/01/24............................. $ 3,306 $ 3,485,949 Ameriprise Financial, Inc. 7.300%, 06/28/19............................. 385 467,311 Amgen, Inc. # 4.500%, 03/15/20............................. 720 788,731 3.625%, 05/22/24............................. 10,000 9,999,620 Anheuser-Busch InBev Worldwide, Inc. # 4.375%, 02/15/21............................. 5,700 6,208,098 # 2.500%, 07/15/22............................. 3,000 2,869,533 Aon Corp. # 5.000%, 09/30/20............................. 2,500 2,804,698 Aon P.L.C. 4.000%, 11/27/23............................. 6,250 6,550,387 # 3.500%, 06/14/24............................. 5,000 4,993,650 Apache Corp. 2.625%, 01/15/23............................. 2,470 2,348,464 Apple, Inc. # 2.400%, 05/03/23............................. 12,000 11,572,836 # 3.450%, 05/06/24............................. 25,000 25,704,425 Applied Materials, Inc. 4.300%, 06/15/21............................. 1,000 1,088,338 Assurant, Inc. 4.000%, 03/15/23............................. 5,000 5,094,115 AT&T, Inc. 3.875%, 08/15/21............................. 1,800 1,888,306 # 3.000%, 02/15/22............................. 6,100 6,028,868 Autodesk, Inc. 3.600%, 12/15/22............................. 2,000 1,979,776 AutoZone, Inc. # 2.875%, 01/15/23............................. 5,000 4,815,120 Baker Hughes, Inc. 3.200%, 08/15/21............................. 1,000 1,024,593 Baltimore Gas & Electric Co. # 2.800%, 08/15/22............................. 5,029 4,978,408 Bank Nederlandse Gemeenten 4.375%, 02/16/21............................. 3,200 3,601,574 2.500%, 01/23/23............................. 10,000 9,913,580 Bank of America Corp. 3.300%, 01/11/23............................. 7,000 6,937,637 # 4.000%, 04/01/24............................. 8,000 8,262,680 Bank of New York Mellon Corp. (The) 3.650%, 02/04/24............................. 13,444 13,796,892 Bank of Nova Scotia (The) 4.375%, 01/13/21............................. 5,000 5,508,590 Barclays Bank P.L.C. # 5.125%, 01/08/20............................. 6,000 6,746,364 # 3.750%, 05/15/24............................. 8,000 8,105,480 Baxter International, Inc. 2.400%, 08/15/22............................. 7,140 6,813,331 3.200%, 06/15/23............................. 2,500 2,506,335 54 DFA INTERMEDIATE-TERM EXTENDED QUALITY PORTFOLIO CONTINUED Face Amount Value+ - ------ ------ (000) Beam Suntory, Inc. 3.250%, 06/15/23............................. $ 5,850 $ 5,722,622 Berkshire Hathaway Finance Corp. # 3.000%, 05/15/22............................. 5,000 5,046,980 Berkshire Hathaway, Inc. # 3.750%, 08/15/21............................. 4,000 4,267,432 3.400%, 01/31/22............................. 5,000 5,181,740 # 3.000%, 02/11/23............................. 7,000 7,020,055 BHP Billiton Finance USA, Ltd. 3.250%, 11/21/21............................. 1,500 1,543,325 BlackRock, Inc. # 4.250%, 05/24/21............................. 1,500 1,642,980 BNP Paribas SA # 3.250%, 03/03/23............................. 3,000 3,005,283 Boeing Co. (The) 8.750%, 08/15/21............................. 1,829 2,501,847 2.850%, 10/30/24............................. 2,000 1,971,670 Boston Scientific Corp. # 6.000%, 01/15/20............................. 2,900 3,326,167 BP Capital Markets P.L.C. 4.500%, 10/01/20............................. 3,200 3,496,218 2.500%, 11/06/22............................. 3,500 3,320,667 BPCE SA 4.000%, 04/15/24............................. 7,000 7,235,200 Branch Banking & Trust Co. 2.850%, 04/01/21............................. 8,000 8,039,208 Bristol-Myers Squibb Co. 2.000%, 08/01/22............................. 3,070 2,856,230 British Columbia, Province of Canada 6.500%, 01/15/26............................. 12,374 16,421,251 Broadcom Corp. # 2.500%, 08/15/22............................. 10,900 10,443,301 Brown-Forman Corp. 2.250%, 01/15/23............................. 750 706,493 Buckeye Partners L.P. 4.150%, 07/01/23............................. 3,000 3,013,671 Burlington Northern Santa Fe LLC 7.000%, 12/15/25............................. 1,340 1,746,194 CA, Inc. 5.375%, 12/01/19............................. 900 1,003,509 Campbell Soup Co. # 4.250%, 04/15/21............................. 1,600 1,729,504 Canadian National Railway Co. 2.850%, 12/15/21............................. 2,915 2,964,782 Canadian Natural Resources, Ltd. # 3.450%, 11/15/21............................. 5,250 5,370,109 3.800%, 04/15/24............................. 5,000 5,029,425 Capital One Financial Corp. # 4.750%, 07/15/21............................. 6,400 7,043,750 Cardinal Health, Inc. # 4.625%, 12/15/20............................. 1,000 1,100,435 # 3.200%, 06/15/22............................. 6,000 6,017,892 Face Amount Value+ - ------ ------ (000) Caterpillar, Inc. # 2.600%, 06/26/22............................. $ 5,500 $ 5,381,865 CBS Corp. 5.750%, 04/15/20............................. 2,550 2,922,030 3.375%, 03/01/22............................. 5,000 5,043,820 Celgene Corp. # 3.625%, 05/15/24............................. 5,000 5,051,110 Cenovus Energy, Inc. # 3.000%, 08/15/22............................. 3,300 3,215,797 CenterPoint Energy Resources Corp. # 4.500%, 01/15/21............................. 3,000 3,299,676 CF Industries, Inc. # 3.450%, 06/01/23............................. 9,260 9,134,416 Charles Schwab Corp. (The) 4.450%, 07/22/20............................. 2,750 3,047,916 Chevron Corp. 2.355%, 12/05/22............................. 10,000 9,669,180 # 3.191%, 06/24/23............................. 24,636 25,119,679 Church & Dwight Co., Inc. 2.875%, 10/01/22............................. 1,600 1,565,515 Cigna Corp. 4.000%, 02/15/22............................. 6,375 6,699,685 Citigroup, Inc. 5.375%, 08/09/20............................. 457 519,485 4.500%, 01/14/22............................. 2,300 2,494,431 # 3.875%, 10/25/23............................. 7,000 7,203,133 # 3.750%, 06/16/24............................. 4,000 4,062,836 Clorox Co. (The) # 3.050%, 09/15/22............................. 4,700 4,659,204 CMS Energy Corp. # 3.875%, 03/01/24............................. 2,000 2,066,338 CNA Financial Corp. 5.750%, 08/15/21............................. 8,082 9,256,694 Coca-Cola Co. (The) 3.300%, 09/01/21............................. 2,650 2,780,862 # 3.200%, 11/01/23............................. 15,180 15,387,313 Coca-Cola Enterprises, Inc. 3.500%, 09/15/20............................. 2,713 2,800,302 Colgate-Palmolive Co. 1.950%, 02/01/23............................. 3,000 2,818,722 Comcast Cable Communications Holdings, Inc. 9.455%, 11/15/22............................. 4,620 6,621,014 Commonwealth Bank of Australia 5.000%, 03/19/20............................. 1,225 1,381,377 Computer Sciences Corp. 4.450%, 09/15/22............................. 5,000 5,050,000 ConAgra Foods, Inc. 3.200%, 01/25/23............................. 4,268 4,136,827 ConocoPhillips 6.000%, 01/15/20............................. 3,930 4,610,920 ConocoPhillips Co. # 2.400%, 12/15/22............................. 3,000 2,896,392 55 DFA INTERMEDIATE-TERM EXTENDED QUALITY PORTFOLIO CONTINUED Face Amount Value+ - ------ ------ (000) Cooperatieve Centrale Raiffeisen- Boerenleenbank BA 4.500%, 01/11/21............................. $ 2,000 $ 2,206,640 3.875%, 02/08/22............................. 15,900 16,816,476 Corning, Inc. 3.700%, 11/15/23............................. 4,235 4,390,992 CR Bard, Inc. 4.400%, 01/15/21............................. 800 873,002 Credit Agricole SA 3.875%, 04/15/24............................. 3,269 3,349,989 Credit Suisse New York # 4.375%, 08/05/20............................. 6,750 7,382,590 # 3.625%, 09/09/24............................. 5,000 5,016,170 CSX Corp. 4.250%, 06/01/21............................. 8,000 8,714,208 CVS Health Corp. # 3.375%, 08/12/24............................. 6,670 6,658,588 Cytec Industries, Inc. 3.500%, 04/01/23............................. 6,000 5,941,512 DCP Midstream Operating L.P. 4.950%, 04/01/22............................. 1,000 1,085,330 Deutsche Bank AG # 3.700%, 05/30/24............................. 13,000 13,109,135 Devon Energy Corp. # 3.250%, 05/15/22............................. 9,800 9,731,782 Diageo Capital P.L.C. # 4.828%, 07/15/20............................. 3,600 4,034,297 Diageo Investment Corp. 2.875%, 05/11/22............................. 1,750 1,737,659 DIRECTV Holdings LLC / DIRECTV Financing Co., Inc. 3.800%, 03/15/22............................. 8,900 9,062,790 Discovery Communications LLC # 3.250%, 04/01/23............................. 1,000 977,607 Dollar General Corp. # 3.250%, 04/15/23............................. 10,522 9,444,358 Dominion Resources, Inc. 4.450%, 03/15/21............................. 3,900 4,247,470 Dow Chemical Co. (The) 3.000%, 11/15/22............................. 1,000 975,170 # 3.500%, 10/01/24............................. 8,000 7,880,808 Dr Pepper Snapple Group, Inc. # 2.000%, 01/15/20............................. 2,400 2,355,814 DTE Energy Co. # 3.850%, 12/01/23............................. 1,500 1,569,560 Duke Energy Corp. # 3.750%, 04/15/24............................. 5,000 5,187,280 Eastman Chemical Co. 4.500%, 01/15/21............................. 1,983 2,135,364 3.600%, 08/15/22............................. 950 964,079 eBay, Inc. 2.600%, 07/15/22............................. 4,200 3,923,758 Face Amount Value+ - ------ ------ (000) Ecolab, Inc. 4.350%, 12/08/21............................. $ 6,000 $ 6,559,836 Eli Lilly & Co. 5.500%, 03/15/27............................. 8,000 9,589,288 EMC Corp. # 3.375%, 06/01/23............................. 6,000 5,877,072 Enbridge Energy Partners L.P. 5.200%, 03/15/20............................. 350 389,901 # 4.200%, 09/15/21............................. 1,917 2,044,502 Enbridge, Inc. 4.000%, 10/01/23............................. 6,000 6,211,272 Encana Corp. # 3.900%, 11/15/21............................. 7,700 8,034,157 Energizer Holdings, Inc. # 4.700%, 05/24/22............................. 8,935 9,282,768 Energy Transfer Partners L.P. # 3.600%, 02/01/23............................. 11,000 10,772,465 Ensco P.L.C. # 4.700%, 03/15/21............................. 3,800 4,001,294 Enterprise Products Operating LLC 5.200%, 09/01/20............................. 2,600 2,918,347 3.900%, 02/15/24............................. 3,250 3,343,428 EOG Resources, Inc. 4.100%, 02/01/21............................. 3,850 4,183,891 EQT Corp. 8.125%, 06/01/19............................. 1,625 1,996,353 Exelon Generation Co. LLC # 4.250%, 06/15/22............................. 5,000 5,216,120 Express Scripts Holding Co. # 3.900%, 02/15/22............................. 5,000 5,210,490 3.500%, 06/15/24............................. 3,500 3,467,373 Exxon Mobil Corp. # 3.176%, 03/15/24............................. 35,000 36,179,290 FedEx Corp. # 2.625%, 08/01/22............................. 6,500 6,317,122 Fifth Third Bancorp 3.500%, 03/15/22............................. 7,500 7,691,422 FMC Technologies, Inc. 3.450%, 10/01/22............................. 8,625 8,434,560 Ford Motor Credit Co. LLC # 4.375%, 08/06/23............................. 11,000 11,664,103 Freeport-McMoRan, Inc. 3.550%, 03/01/22............................. 3,000 2,925,099 Gap, Inc. (The) 5.950%, 04/12/21............................. 2,500 2,822,475 General Dynamics Corp. 2.250%, 11/15/22............................. 7,500 7,160,707 General Electric Co. # 3.375%, 03/11/24............................. 5,000 5,139,285 General Mills, Inc. # 3.150%, 12/15/21............................. 3,000 3,058,503 Genworth Holdings, Inc. # 7.625%, 09/24/21............................. 3,060 3,731,624 # 4.800%, 02/15/24............................. 5,290 5,475,817 56 DFA INTERMEDIATE-TERM EXTENDED QUALITY PORTFOLIO CONTINUED Face Amount Value+ - ------ ------ (000) Georgia Power Co. # 2.850%, 05/15/22............................. $ 2,550 $ 2,557,673 Gilead Sciences, Inc. 3.700%, 04/01/24............................. 10,000 10,277,800 GlaxoSmithKline Capital, Inc. 2.800%, 03/18/23............................. 3,500 3,439,464 Goldcorp, Inc. # 3.625%, 06/09/21............................. 5,500 5,510,642 Goldman Sachs Group, Inc. (The) 6.000%, 06/15/20............................. 2,150 2,483,310 5.250%, 07/27/21............................. 5,500 6,129,662 # 4.000%, 03/03/24............................. 7,000 7,150,059 Great Plains Energy, Inc. 4.850%, 06/01/21............................. 2,000 2,222,286 Halliburton Co. # 3.500%, 08/01/23............................. 10,000 10,258,630 Hartford Financial Services Group, Inc. (The) # 5.500%, 03/30/20............................. 3,185 3,611,112 5.125%, 04/15/22............................. 8,000 8,936,816 Hershey Co. (The) # 2.625%, 05/01/23............................. 1,527 1,496,130 Hess Corp. 3.500%, 07/15/24............................. 5,075 5,039,556 Hewlett-Packard Co. 4.375%, 09/15/21............................. 2,500 2,636,165 Home Depot, Inc. (The) 4.400%, 04/01/21............................. 6,000 6,693,240 # 2.700%, 04/01/23............................. 2,000 1,963,676 Hormel Foods Corp. # 4.125%, 04/15/21............................. 2,310 2,512,705 HSBC Holdings P.L.C. 4.000%, 03/30/22............................. 3,000 3,188,475 HSBC USA, Inc. # 3.500%, 06/23/24............................. 10,000 10,134,470 Humana, Inc. 3.850%, 10/01/24............................. 8,000 8,073,688 Husky Energy, Inc. 7.250%, 12/15/19............................. 2,500 3,025,130 Illinois Tool Works, Inc. 3.500%, 03/01/24............................. 10,000 10,329,940 Integrys Energy Group, Inc. # 4.170%, 11/01/20............................. 1,000 1,069,239 Intel Corp. # 3.300%, 10/01/21............................. 7,400 7,730,639 2.700%, 12/15/22............................. 3,000 2,938,695 Inter-American Development Bank 7.000%, 06/15/25............................. 6,000 8,251,890 6.750%, 07/15/27............................. 3,000 4,189,293 International Bank for Reconstruction & Development 7.625%, 01/19/23............................. 7,700 10,711,501 Face Amount Value+ - ------ ------ (000) International Business Machines Corp. 1.875%, 08/01/22............................. $ 700 $ 644,800 # 3.375%, 08/01/23............................. 6,810 6,886,871 # 3.625%, 02/12/24............................. 2,000 2,040,992 International Paper Co. 3.650%, 06/15/24............................. 3,000 2,965,074 Intesa Sanpaolo SpA # 5.250%, 01/12/24............................. 5,000 5,442,015 ITC Holdings Corp. # 3.650%, 06/15/24............................. 9,000 9,086,877 John Deere Capital Corp. 2.750%, 03/15/22............................. 5,000 4,955,325 Johnson & Johnson # 3.375%, 12/05/23............................. 10,000 10,527,740 JPMorgan Chase & Co. 4.950%, 03/25/20............................. 630 699,509 4.350%, 08/15/21............................. 5,200 5,582,782 # 3.625%, 05/13/24............................. 8,500 8,602,357 Juniper Networks, Inc. 4.600%, 03/15/21............................. 4,000 4,247,580 # 4.500%, 03/15/24............................. 5,000 5,146,000 Kerr-McGee Corp. 6.950%, 07/01/24............................. 6,900 8,616,989 KeyCorp 5.100%, 03/24/21............................. 7,000 7,856,835 Kimberly-Clark Corp. 2.400%, 06/01/23............................. 4,130 3,963,478 Kinder Morgan Energy Partners L.P. 5.300%, 09/15/20............................. 2,000 2,198,794 5.800%, 03/01/21............................. 550 618,991 4.150%, 03/01/22............................. 2,400 2,452,330 # 3.500%, 09/01/23............................. 5,000 4,793,800 Kohl's Corp. # 3.250%, 02/01/23............................. 2,000 1,952,456 4.750%, 12/15/23............................. 10,000 10,635,330 Koninklijke Philips NV # 3.750%, 03/15/22............................. 2,322 2,420,543 Kraft Foods Group, Inc. 3.500%, 06/06/22............................. 6,600 6,752,295 Kroger Co. (The) 3.850%, 08/01/23............................. 7,000 7,175,770 Laboratory Corp. of America Holdings # 4.000%, 11/01/23............................. 6,000 6,149,184 Lincoln National Corp. 6.250%, 02/15/20............................. 180 211,386 Lloyds Bank P.L.C. 6.375%, 01/21/21............................. 3,404 4,074,884 Loews Corp. # 2.625%, 05/15/23............................. 2,865 2,725,280 Lorillard Tobacco Co. # 6.875%, 05/01/20............................. 2,000 2,360,834 Lowe's Cos., Inc. 3.120%, 04/15/22............................. 2,000 2,043,392 57 DFA INTERMEDIATE-TERM EXTENDED QUALITY PORTFOLIO CONTINUED Face Amount Value+ - ------ ------ (000) LyondellBasell Industries NV 5.750%, 04/15/24............................. $ 9,000 $10,501,875 Macy's Retail Holdings, Inc. # 3.875%, 01/15/22............................. 4,446 4,635,666 2.875%, 02/15/23............................. 3,500 3,354,754 Magellan Midstream Partners L.P. 4.250%, 02/01/21............................. 3,370 3,650,772 Manitoba, Province of Canada 2.100%, 09/06/22............................. 3,000 2,916,018 Marathon Oil Corp. 2.800%, 11/01/22............................. 6,000 5,833,920 Marathon Petroleum Corp. # 3.625%, 09/15/24............................. 12,800 12,746,560 Markel Corp. 5.350%, 06/01/21............................. 4,200 4,695,592 3.625%, 03/30/23............................. 2,000 2,010,724 Marsh & McLennan Cos., Inc. 3.500%, 06/03/24............................. 10,000 10,051,330 McDonald's Corp. 2.625%, 01/15/22............................. 2,900 2,881,991 McKesson Corp. 3.796%, 03/15/24............................. 3,000 3,048,753 Medtronic, Inc. 3.125%, 03/15/22............................. 3,407 3,430,764 Merck & Co., Inc. # 2.800%, 05/18/23............................. 8,000 7,888,968 MetLife, Inc. # 3.600%, 04/10/24............................. 6,208 6,324,791 Mobil Corp. 8.625%, 08/15/21............................. 2,013 2,774,345 Molson Coors Brewing Co. # 3.500%, 05/01/22............................. 10,204 10,274,091 Mondelez International, Inc. # 4.000%, 02/01/24............................. 12,000 12,379,380 Monsanto Co. 5.500%, 08/15/25............................. 3,500 4,163,604 Morgan Stanley 5.500%, 07/28/21............................. 8,320 9,483,377 3.875%, 04/29/24............................. 6,000 6,075,966 Mosaic Co. (The) # 4.250%, 11/15/23............................. 3,000 3,145,527 Motorola Solutions, Inc. 3.750%, 05/15/22............................. 5,000 4,975,530 3.500%, 03/01/23............................. 5,000 4,863,935 MUFG Americas Holdings Corp. # 3.500%, 06/18/22............................. 8,550 8,759,680 Murphy Oil Corp. 4.000%, 06/01/22............................. 2,000 1,979,948 Mylan, Inc. # 4.200%, 11/29/23............................. 7,000 7,229,250 NASDAQ OMX Group, Inc. (The) # 4.250%, 06/01/24............................. 3,000 3,054,333 Face Amount Value+ - ------ ------ (000) National Australia Bank, Ltd. # 3.000%, 01/20/23............................. $10,000 $9,875,980 National Oilwell Varco, Inc. # 2.600%, 12/01/22............................. 8,500 8,078,170 NetApp, Inc. # 3.250%, 12/15/22............................. 1,700 1,675,455 New Brunswick, Province of Canada 9.750%, 05/15/20............................. 1,000 1,355,358 Newell Rubbermaid, Inc. 4.000%, 06/15/22............................. 4,000 4,177,612 NextEra Energy Capital Holdings, Inc. 4.500%, 06/01/21............................. 1,295 1,409,635 Nisource Finance Corp. # 6.125%, 03/01/22............................. 6,425 7,635,708 # 3.850%, 02/15/23............................. 1,100 1,139,578 Noble Energy, Inc. # 4.150%, 12/15/21............................. 9,000 9,595,566 Noble Holding International, Ltd. # 3.950%, 03/15/22............................. 4,100 3,953,540 Nordstrom, Inc. 4.000%, 10/15/21............................. 1,500 1,599,290 Norfolk Southern Corp. 2.903%, 02/15/23............................. 2,000 1,952,016 Northern Trust Corp. 3.375%, 08/23/21............................. 4,400 4,611,182 2.375%, 08/02/22............................. 3,016 2,906,785 Northrop Grumman Corp. 3.500%, 03/15/21............................. 2,256 2,346,671 3.250%, 08/01/23............................. 4,000 3,989,220 Novartis Capital Corp. 4.400%, 04/24/20............................. 4,000 4,442,712 3.400%, 05/06/24............................. 2,500 2,566,450 Nucor Corp. 4.000%, 08/01/23............................. 3,500 3,641,810 Occidental Petroleum Corp. # 2.700%, 02/15/23............................. 8,650 8,370,977 Ohio Power Co. # 5.375%, 10/01/21............................. 3,606 4,196,255 Omnicom Group, Inc. 4.450%, 08/15/20............................. 3,650 3,943,062 ONEOK Partners L.P. 3.375%, 10/01/22............................. 1,898 1,851,516 Ontario, Province of Canada # 2.450%, 06/29/22............................. 1,700 1,676,443 Oracle Corp. 2.500%, 10/15/22............................. 3,000 2,895,612 Orange SA 5.375%, 07/08/19............................. 2,350 2,654,172 4.125%, 09/14/21............................. 2,900 3,069,459 Pacific Gas & Electric Co. 3.850%, 11/15/23............................. 5,000 5,238,920 Packaging Corp. of America 4.500%, 11/01/23............................. 6,075 6,446,790 58 DFA INTERMEDIATE-TERM EXTENDED QUALITY PORTFOLIO CONTINUED Face Amount Value+ - ------ ------ (000) PepsiCo, Inc. 4.500%, 01/15/20............................. $ 1,575 $ 1,752,786 # 2.750%, 03/05/22............................. 2,404 2,390,458 # 2.750%, 03/01/23............................. 7,000 6,828,717 Pfizer, Inc. 3.000%, 06/15/23............................. 3,000 2,985,213 # 3.400%, 05/15/24............................. 10,000 10,134,050 Philip Morris International, Inc. # 2.500%, 08/22/22............................. 1,504 1,455,568 Phillips 66 4.300%, 04/01/22............................. 11,250 12,055,860 Pitney Bowes, Inc. # 4.625%, 03/15/24............................. 2,000 2,040,950 Plains All American Pipeline L.P. / PAA Finance Corp. # 5.000%, 02/01/21............................. 1,000 1,118,092 2.850%, 01/31/23............................. 4,000 3,841,520 # 3.850%, 10/15/23............................. 2,273 2,313,382 PNC Bank NA # 3.300%, 10/30/24............................. 5,000 4,985,100 PNC Funding Corp. 4.375%, 08/11/20............................. 4,730 5,182,439 # 3.300%, 03/08/22............................. 1,466 1,489,639 PPG Industries, Inc. 2.700%, 08/15/22............................. 1,000 972,160 Praxair, Inc. 4.050%, 03/15/21............................. 3,800 4,131,048 2.200%, 08/15/22............................. 1,250 1,192,363 Precision Castparts Corp. # 2.500%, 01/15/23............................. 8,000 7,764,904 Principal Financial Group, Inc. 8.875%, 05/15/19............................. 330 418,740 # 3.125%, 05/15/23............................. 5,096 4,998,422 Private Export Funding Corp. 4.300%, 12/15/21............................. 1,407 1,583,740 Procter & Gamble Co. (The) # 2.300%, 02/06/22............................. 4,000 3,957,576 Progressive Corp. (The) # 3.750%, 08/23/21............................. 6,800 7,229,644 Prudential Financial, Inc. 5.375%, 06/21/20............................. 4,170 4,730,335 # 3.500%, 05/15/24............................. 8,000 8,028,760 Quebec, Province of Canada 2.625%, 02/13/23............................. 7,000 6,926,997 Quest Diagnostics, Inc. # 4.700%, 04/01/21............................. 6,770 7,337,312 Raytheon Co. 3.125%, 10/15/20............................. 2,900 3,019,303 # 2.500%, 12/15/22............................. 2,200 2,128,192 Reinsurance Group of America, Inc. 5.000%, 06/01/21............................. 1,500 1,654,622 # 4.700%, 09/15/23............................. 6,000 6,447,054 Face Amount Value+ - ------ ------ (000) Republic Services, Inc. 3.550%, 06/01/22............................. $ 4,000 $ 4,100,108 Reynolds American, Inc. 3.250%, 11/01/22............................. 8,555 8,351,425 Rio Tinto Finance USA, Ltd. 4.125%, 05/20/21............................. 3,800 4,048,615 Rogers Communications, Inc. # 3.000%, 03/15/23............................. 2,759 2,652,823 Rowan Cos., Inc. 7.875%, 08/01/19............................. 600 722,135 Royal Bank of Scotland P.L.C. (The) 6.125%, 01/11/21............................. 2,000 2,350,820 Sanofi 4.000%, 03/29/21............................. 3,000 3,249,726 SCANA Corp. 6.250%, 04/01/20............................. 1,750 2,016,842 # 4.125%, 02/01/22............................. 3,035 3,158,139 Sempra Energy # 4.050%, 12/01/23............................. 6,570 6,974,508 # 3.550%, 06/15/24............................. 9,000 9,179,847 Shell International Finance BV 4.375%, 03/25/20............................. 3,000 3,320,349 # 3.400%, 08/12/23............................. 15,000 15,406,305 Spectra Energy Capital LLC # 3.300%, 03/15/23............................. 10,275 9,813,406 Spectra Energy Partners L.P. # 4.750%, 03/15/24............................. 5,000 5,416,870 St Jude Medical, Inc. # 3.250%, 04/15/23............................. 5,000 4,976,060 StanCorp Financial Group, Inc. 5.000%, 08/15/22............................. 5,000 5,318,955 Staples, Inc. # 4.375%, 01/12/23............................. 2,000 2,004,594 Starwood Hotels & Resorts Worldwide, Inc. # 3.125%, 02/15/23............................. 5,000 4,836,240 State Street Corp. # 4.375%, 03/07/21............................. 6,200 6,858,118 Statoil ASA 2.450%, 01/17/23............................. 10,000 9,602,380 2.650%, 01/15/24............................. 10,860 10,374,395 Sumitomo Mitsui Banking Corp. 3.950%, 07/19/23............................. 9,160 9,724,375 Sunoco Logistics Partners Operations L.P. 4.650%, 02/15/22............................. 2,895 3,092,679 SunTrust Bank 2.750%, 05/01/23............................. 4,900 4,700,011 Target Corp. 2.900%, 01/15/22............................. 7,676 7,705,445 59 DFA INTERMEDIATE-TERM EXTENDED QUALITY PORTFOLIO CONTINUED Face Amount Value+ - ------ ------ (000) Teck Resources, Ltd. # 3.750%, 02/01/23............................. $ 6,600 $ 6,224,902 Telefonica Emisiones SAU # 4.570%, 04/27/23............................. 5,000 5,284,090 4.570%, 04/27/23............................. 2,000 2,114,434 Thermo Fisher Scientific, Inc. 4.500%, 03/01/21............................. 4,000 4,336,976 Thomson Reuters Corp. 4.300%, 11/23/23............................. 8,000 8,482,896 Time Warner, Inc. # 4.750%, 03/29/21............................. 2,200 2,419,215 # 4.000%, 01/15/22............................. 1,800 1,889,422 3.550%, 06/01/24............................. 7,000 6,963,152 TJX Cos., Inc. (The) 2.500%, 05/15/23............................. 6,440 6,192,066 Total Capital International SA 3.750%, 04/10/24............................. 15,000 15,561,090 Toyota Motor Credit Corp. 4.250%, 01/11/21............................. 1,200 1,314,878 3.300%, 01/12/22............................. 10,165 10,510,051 2.625%, 01/10/23............................. 10,000 9,836,420 TransAlta Corp. # 4.500%, 11/15/22............................. 6,038 6,129,301 TransCanada PipeLines, Ltd. 3.800%, 10/01/20............................. 2,000 2,097,166 2.500%, 08/01/22............................. 5,112 4,866,491 Travelers Cos., Inc. (The) # 3.900%, 11/01/20............................. 4,200 4,518,234 Tyson Foods, Inc. # 4.500%, 06/15/22............................. 12,498 13,369,661 UBS AG 4.875%, 08/04/20............................. 5,928 6,643,889 Unilever Capital Corp. 4.250%, 02/10/21............................. 3,500 3,866,814 Union Pacific Corp. # 3.250%, 01/15/25............................. 5,000 5,021,065 United Parcel Service, Inc. 3.125%, 01/15/21............................. 2,000 2,079,994 United Technologies Corp. 4.500%, 04/15/20............................. 1,925 2,143,811 UnitedHealth Group, Inc. # 2.750%, 02/15/23............................. 7,750 7,550,158 Unum Group 5.625%, 09/15/20............................. 3,500 3,998,670 4.000%, 03/15/24............................. 2,000 2,048,580 US Bancorp # 3.000%, 03/15/22............................. 3,000 3,013,587 Verizon Communications, Inc. 4.600%, 04/01/21............................. 4,050 4,392,954 5.150%, 09/15/23............................. 9,000 10,075,095 VF Corp. 3.500%, 09/01/21............................. 2,000 2,114,882 Face Amount Value+ - ------ ------ (000) Viacom, Inc. 4.500%, 03/01/21............................. $ 2,900 $ 3,128,717 # 4.250%, 09/01/23............................. 1,000 1,030,782 Vodafone Group P.L.C. 4.375%, 03/16/21............................. 4,500 4,832,874 # 2.500%, 09/26/22............................. 9,000 8,386,686 Wal-Mart Stores, Inc. 4.250%, 04/15/21............................. 4,000 4,397,884 2.550%, 04/11/23............................. 5,000 4,849,655 # 3.300%, 04/22/24............................. 7,000 7,148,064 Walgreen Co. # 3.100%, 09/15/22............................. 7,124 6,977,324 Walt Disney Co. (The) 2.550%, 02/15/22............................. 4,000 3,966,972 Waste Management, Inc. 4.600%, 03/01/21............................. 2,860 3,160,603 WellPoint, Inc. # 3.125%, 05/15/22............................. 4,900 4,851,186 Wells Fargo & Co. # 4.600%, 04/01/21............................. 2,100 2,318,868 # 3.500%, 03/08/22............................. 13,700 14,161,430 Western Gas Partners L.P. 4.000%, 07/01/22............................. 3,772 3,887,800 Western Union Co. (The) # 5.253%, 04/01/20............................. 3,568 3,908,712 Whirlpool Corp. 4.700%, 06/01/22............................. 3,000 3,257,265 Whirpool Corp. 3.700%, 05/01/25............................. 7,000 6,966,708 Williams Partners L.P. 4.000%, 11/15/21............................. 3,500 3,641,313 3.350%, 08/15/22............................. 1,300 1,266,411 Wisconsin Electric Power Co. 2.950%, 09/15/21............................. 6,675 6,832,423 WR Berkley Corp. 5.375%, 09/15/20............................. 800 901,001 Wyndham Worldwide Corp. # 3.900%, 03/01/23............................. 11,073 10,886,785 Xerox Corp. # 4.500%, 05/15/21............................. 5,000 5,340,550 Yum! Brands, Inc. # 3.750%, 11/01/21............................. 5,830 6,003,419 Zimmer Holdings, Inc. # 4.625%, 11/30/19............................. 2,500 2,740,995 Zoetis, Inc. # 3.250%, 02/01/23............................. 6,000 5,941,854 -------------- TOTAL BONDS........................................ 2,019,285,860 -------------- Shares - ------ - SECURITIES LENDING COLLATERAL -- (16.3%) (S)@ DFA Short Term Investment Fund............... 35,457,378 410,241,863 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $2,494,516,863).............................. $2,520,013,261 ============== 60 DFA INTERMEDIATE-TERM EXTENDED QUALITY PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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............ -- $ 90,485,538 -- $ 90,485,538 Bonds......................... -- 2,019,285,860 -- 2,019,285,860 Securities Lending Collateral. -- 410,241,863 -- 410,241,863 -- -------------- -- -------------- TOTAL......................... -- $2,520,013,261 -- $2,520,013,261 == ============== == ============== See accompanying Notes to Financial Statements. 61 DFA INVESTMENT GRADE PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Shares Value+ ----------- -------------- AFFILIATED INVESTMENT COMPANIES -- (99.7%) Investment in DFA Intermediate-Term Extended Quality Portfolio of DFA Investment Dimensions Group Inc............................... 111,856,601 $1,208,051,294 Investment in DFA Intermediate Government Fixed Income Portfolio of DFA Investment Dimensions Group Inc............................... 73,668,830 928,227,264 Investment in DFA Short-Term Extended Quality Portfolio of DFA Investment Dimensions Group Inc............................... 16,500,342 179,193,717 Investment in DFA Short-Term Government Portfolio of DFA Investment Dimensions Group Inc............................... 10,326,655 110,391,944 -------------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANIES (Cost $2,405,219,063).......................................... 2,425,864,219 -------------- TEMPORARY CASH INVESTMENTS -- (0.3%) State Street Institutional Liquid Reserves, 0.077% (Cost $6,258,524)................................................. 6,258,524 6,258,524 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $2,411,477,587).......................................... $2,432,122,743 ============== Summary of the Portfolio's investments as of October 31, 2014, 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. $2,425,864,219 -- -- $2,425,864,219 Temporary Cash Investments...... 6,258,524 -- -- 6,258,524 -------------- -- -- -------------- TOTAL........................... $2,432,122,743 -- -- $2,432,122,743 ============== == == ============== See accompanying Notes to Financial Statements. 62 DFA INFLATION-PROTECTED SECURITIES PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Face Amount^^^ Value+ ---------- -------------- (000) U.S. TREASURY OBLIGATIONS -- (99.9%) Treasury Inflation Protected Security 2.125%, 01/15/19........................................... $ 70,800 $ 85,884,937 1.875%, 07/15/19........................................... 224,000 273,171,421 1.375%, 01/15/20........................................... 187,300 219,947,097 1.250%, 07/15/20........................................... 177,600 206,692,782 1.125%, 01/15/21........................................... 229,500 263,335,138 0.625%, 07/15/21........................................... 191,500 207,473,590 0.125%, 01/15/22........................................... 162,000 167,671,937 0.125%, 07/15/22........................................... 100,500 102,410,099 0.125%, 01/15/23........................................... 164,800 166,059,903 0.375%, 07/15/23........................................... 101,000 103,177,651 2.375%, 01/15/25........................................... 104,000 155,537,029 2.000%, 01/15/26........................................... 97,800 135,329,885 2.375%, 01/15/27........................................... 83,000 117,762,223 1.750%, 01/15/28........................................... 50,700 65,291,642 3.625%, 04/15/28........................................... 80,500 163,329,330 2.500%, 01/15/29........................................... 51,000 70,235,760 3.875%, 04/15/29........................................... 88,745 184,295,245 3.375%, 04/15/32........................................... 13,000 24,702,495 -------------- TOTAL U.S. TREASURY OBLIGATIONS.............................. 2,712,308,164 -------------- Shares ---------- TEMPORARY CASH INVESTMENTS -- (0.1%) State Street Institutional U.S. Government Money Market Fund. 1,466,441 1,466,441 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $2,660,255,788)....................................... $2,713,774,605 ============== Summary of the Portfolio's investments as of October 31, 2014, 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.......... -- $2,712,308,164 -- $2,712,308,164 Temporary Cash Investments......... $1,466,441 -- -- 1,466,441 ---------- -------------- -- -------------- TOTAL.............................. $1,466,441 $2,712,308,164 -- $2,713,774,605 ========== ============== == ============== See accompanying Notes to Financial Statements. 63 DFA SHORT-DURATION REAL RETURN PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Face Amount^ Value+ - ------- ------ (000) BONDS -- (92.9%) AUSTRALIA -- (4.4%) Australia & New Zealand Banking Group, Ltd. 1.250%, 06/13/17.............................. 5,000 $ 4,994,435 1.875%, 10/06/17.............................. 358 363,120 1.450%, 05/15/18.............................. 358 353,603 BHP Billiton Finance USA, Ltd. 1.875%, 11/21/16.............................. 1,300 1,325,586 1.625%, 02/24/17.............................. 824 834,306 Commonwealth Bank of Australia 1.125%, 03/13/17.............................. 4,000 4,001,128 1.900%, 09/18/17.............................. 787 797,948 2.500%, 09/20/18.............................. 916 935,098 2.250%, 03/13/19.............................. 5,000 5,023,475 National Australia Bank, Ltd. 1.300%, 07/25/16.............................. 250 252,257 2.250%, 07/01/19.............................. 3,500 3,500,535 Rio Tinto Finance USA, Ltd. 2.500%, 05/20/16.............................. 597 611,951 2.250%, 09/20/16.............................. 572 584,803 Westpac Banking Corp. 3.000%, 12/09/15.............................. 465 477,200 1.200%, 05/19/17.............................. 2,800 2,798,362 2.000%, 08/14/17.............................. 501 510,339 ----------- TOTAL AUSTRALIA.................................... 27,364,146 ----------- AUSTRIA -- (0.3%) Austria Government International Bond 1.750%, 06/17/16.............................. 215 219,354 Oesterreichische Kontrollbank AG 1.750%, 10/05/15.............................. 136 137,855 2.000%, 06/03/16.............................. 272 278,399 1.125%, 05/29/18.............................. 1,431 1,421,083 ----------- TOTAL AUSTRIA...................................... 2,056,691 ----------- BELGIUM -- (0.0%) Belgium Government International Bond 2.750%, 03/05/15.............................. 143 144,205 ----------- CANADA -- (9.4%) Bank of Montreal 2.375%, 01/25/19.............................. 24 24,257 Bank of Nova Scotia (The) 3.400%, 01/22/15.............................. 143 143,947 2.900%, 03/29/16.............................. 715 736,557 Face Amount^ Value+ - ------- ------ (000) CANADA -- (Continued) British Columbia, Province of Canada 2.850%, 06/15/15............................. 286 $ 290,648 2.100%, 05/18/16............................. 358 366,892 1.200%, 04/25/17............................. 715 720,533 Canada Government International Bond 0.875%, 02/14/17............................. 715 717,031 Canadian Imperial Bank of Commerce 0.900%, 10/01/15............................. 813 816,677 Canadian National Railway Co. 1.450%, 12/15/16............................. 2,036 2,060,595 Canadian Natural Resources, Ltd. 5.700%, 05/15/17............................. 588 648,977 Encana Corp. 5.900%, 12/01/17............................. 460 516,213 6.500%, 05/15/19............................. 2,250 2,642,632 Export Development Canada 2.250%, 05/28/15............................. 70 70,821 1.250%, 10/26/16............................. 785 793,993 Goldcorp, Inc. 2.125%, 03/15/18............................. 2,000 1,999,100 Manitoba, Province of Canada 2.625%, 07/15/15............................. 572 581,432 Ontario, Province of Canada 4.950%, 11/28/16............................. 715 775,842 1.100%, 10/25/17............................. 4,000 3,982,216 1.200%, 02/14/18............................. 2,831 2,811,812 2.000%, 01/30/19............................. 5,000 5,053,050 Petro-Canada 6.050%, 05/15/18............................. 429 489,963 Potash Corp. of Saskatchewan, Inc. 3.750%, 09/30/15............................. 1,315 1,351,965 3.250%, 12/01/17............................. 123 129,160 Royal Bank of Canada 2.300%, 07/20/16............................. 393 403,446 1.450%, 09/09/16............................. 871 879,562 1.500%, 01/16/18............................. 7,000 6,982,199 2.200%, 07/27/18............................. 4,000 4,060,492 2.150%, 03/15/19............................. 1,700 1,709,972 Suncor Energy, Inc. 6.100%, 06/01/18............................. 707 810,958 Teck Resources, Ltd. 2.500%, 02/01/18............................. 925 922,737 Thomson Reuters Corp. 1.300%, 02/23/17............................. 1,300 1,299,598 64 DFA SHORT-DURATION REAL RETURN PORTFOLIO CONTINUED Face Amount^ Value+ - ------- ------ (000) CANADA -- (Continued) Toronto-Dominion Bank (The) 2.375%, 10/19/16.............................. 215 $ 221,734 1.125%, 05/02/17.............................. 5,000 4,990,400 2.625%, 09/10/18.............................. 715 732,565 2.125%, 07/02/19.............................. 7,600 7,571,926 TransCanada PipeLines, Ltd. 0.875%, 03/02/15.............................. 279 279,401 3.400%, 06/01/15.............................. 429 435,940 ----------- TOTAL CANADA....................................... 59,025,243 ----------- DENMARK -- (0.1%) Kommunekredit 1.125%, 03/15/18.............................. 715 710,737 ----------- FINLAND -- (1.2%) Finland Government International Bond 2.250%, 03/17/16.............................. 501 513,572 Municipality Finance P.L.C. 2.375%, 05/16/16.............................. 1,432 1,472,646 1.125%, 04/17/18.............................. 5,789 5,746,277 ----------- TOTAL FINLAND...................................... 7,732,495 ----------- FRANCE -- (2.5%) BNP Paribas SA 3.250%, 03/11/15.............................. 286 288,840 1.250%, 12/12/16.............................. 1,431 1,433,630 2.375%, 09/14/17.............................. 252 256,841 Caisse d'Amortissement de la Dette Sociale 2.375%, 03/31/16.............................. 358 367,592 2.125%, 04/12/17.............................. 1,059 1,089,408 Orange SA 2.125%, 09/16/15.............................. 465 470,084 2.750%, 09/14/16.............................. 1,000 1,029,960 Sanofi 1.250%, 04/10/18.............................. 744 738,253 Societe Generale SA 2.750%, 10/12/17.............................. 1,772 1,823,773 Total Capital International SA 2.125%, 01/10/19.............................. 781 785,510 2.100%, 06/19/19.............................. 7,000 6,995,800 Total Capital SA 3.125%, 10/02/15.............................. 358 366,763 ----------- TOTAL FRANCE....................................... 15,646,454 ----------- GERMANY -- (2.3%) Deutsche Bank AG 3.250%, 01/11/16.............................. 1,000 1,029,137 6.000%, 09/01/17.............................. 862 966,142 FMS Wertmanagement AoeR 1.000%, 11/21/17.............................. 8,789 8,754,196 KFW 2.000%, 06/01/16.............................. 72 73,726 4.875%, 01/17/17.............................. 358 390,054 Face Amount^ Value+ - ------- ------ (000) GERMANY -- (Continued) 1.250%, 02/15/17.............................. 1,002 $ 1,013,000 0.875%, 09/05/17.............................. 358 356,987 Landeskreditbank Baden- Wuerttemberg Foerderbank 2.250%, 07/15/16.............................. 558 573,921 Landwirtschaftliche Rentenbank 0.875%, 09/12/17.............................. 901 897,260 ----------- TOTAL GERMANY...................................... 14,054,423 ----------- ITALY -- (0.3%) Intesa Sanpaolo SpA 3.875%, 01/16/18.............................. 2,000 2,089,046 ----------- JAPAN -- (1.8%) Development Bank of Japan, Inc. 2.875%, 04/20/15.............................. 100 101,207 1.875%, 10/03/18.............................. 594 600,267 Japan Bank for International Cooperation 2.250%, 07/13/16.............................. 358 368,160 1.750%, 07/31/18.............................. 358 361,240 Japan Finance Organization for Municipalities 1.375%, 02/05/18.............................. 5,000 4,987,950 Nippon Telegraph & Telephone Corp. 1.400%, 07/18/17.............................. 102 102,125 Nomura Holdings, Inc. 5.000%, 03/04/15.............................. 215 217,817 2.000%, 09/13/16.............................. 1,528 1,547,224 Sumitomo Mitsui Banking Corp. 2.450%, 01/10/19.............................. 2,673 2,694,325 ----------- TOTAL JAPAN........................................ 10,980,315 ----------- NETHERLANDS -- (4.4%) Bank Nederlandse Gemeenten NV 1.375%, 09/27/17.............................. 1,002 1,008,503 1.375%, 03/19/18.............................. 1,790 1,791,396 1.875%, 06/11/19.............................. 5,000 5,023,645 Cooperatieve Centrale Raiffeisen-Boerenleenbank BA 2.125%, 10/13/15.............................. 1,178 1,196,945 1.700%, 03/19/18.............................. 5,000 5,013,275 2.250%, 01/14/19.............................. 3,356 3,396,483 Diageo Finance BV 3.250%, 01/15/15.............................. 358 359,933 Koninklijke Philips NV 5.750%, 03/11/18.............................. 1,164 1,304,377 LyondellBasell Industries NV 5.000%, 04/15/19.............................. 1,650 1,818,922 65 DFA SHORT-DURATION REAL RETURN PORTFOLIO CONTINUED Face Amount^ Value+ - ------- ------ (000) NETHERLANDS -- (Continued) Nederlandse Waterschapsbank NV 3.000%, 03/17/15............................. 215 $ 217,199 2.125%, 06/16/16............................. 429 439,743 Shell International Finance BV 1.125%, 08/21/17............................. 358 357,916 2.000%, 11/15/18............................. 5,709 5,755,688 ----------- TOTAL NETHERLANDS................................ 27,684,025 ----------- NORWAY -- (0.6%) Kommunalbanken A.S. 2.375%, 01/19/16............................. 108 110,554 1.000%, 09/26/17............................. 286 285,077 1.000%, 03/15/18............................. 2,146 2,122,463 Statoil ASA 1.200%, 01/17/18............................. 168 167,129 1.150%, 05/15/18............................. 236 232,940 1.950%, 11/08/18............................. 715 718,892 ----------- TOTAL NORWAY..................................... 3,637,055 ----------- SINGAPORE -- (0.1%) Singapore Government Bond 2.500%, 06/01/19............................. SGD 665 545,112 ----------- SUPRANATIONAL ORGANIZATION OBLIGATIONS -- (3.5%) African Development Bank 1.125%, 03/15/17............................. 501 504,423 Asian Development Bank 1.125%, 03/15/17............................. 358 360,608 1.750%, 09/11/18............................. 639 646,922 1.875%, 04/12/19............................. 5,000 5,053,550 Council Of Europe Development Bank 1.500%, 06/19/17............................. 930 943,150 EUROFIMA 5.250%, 04/07/16............................. 358 382,151 European Bank for Reconstruction & Development 2.750%, 04/20/15............................. 143 144,729 1.750%, 06/14/19............................. 5,000 5,014,695 European Investment Bank 4.875%, 01/17/17............................. 358 390,054 1.625%, 06/15/17............................. 5,286 5,382,892 1.125%, 09/15/17............................. 215 215,799 Inter-American Development Bank 1.125%, 03/15/17............................. 59 59,675 0.875%, 03/15/18............................. 715 706,688 International Bank for Reconstruction & Development 2.375%, 05/26/15............................. 143 144,766 Face Amount^ Value+ - ------- ------ (000) SUPRANATIONAL ORGANIZATION OBLIGATIONS -- (Continued) 1.000%, 09/15/16.............................. 143 $ 144,080 0.875%, 04/17/17.............................. 859 862,250 International Finance Corp. 0.875%, 06/15/18.............................. 215 211,259 Nordic Investment Bank 0.750%, 01/17/18.............................. 787 775,853 ----------- TOTAL SUPRANATIONAL ORGANIZATION OBLIGATIONS....... 21,943,544 ----------- SWEDEN -- (1.3%) Kommuninvest I Sverige AB 1.000%, 10/24/17.............................. 1,776 1,769,020 Svensk Exportkredit AB 2.125%, 07/13/16.............................. 715 733,519 1.750%, 05/30/17.............................. 4,358 4,439,582 Svenska Handelsbanken AB 2.875%, 04/04/17.............................. 700 728,344 2.500%, 01/25/19.............................. 358 366,312 ----------- TOTAL SWEDEN....................................... 8,036,777 ----------- SWITZERLAND -- (0.8%) Credit Suisse New York 3.500%, 03/23/15.............................. 250 252,944 1.375%, 05/26/17.............................. 2,000 1,995,070 Noble Holding International, Ltd. 2.500%, 03/15/17.............................. 778 788,297 UBS AG 3.875%, 01/15/15.............................. 353 355,394 5.875%, 12/20/17.............................. 372 419,023 5.750%, 04/25/18.............................. 1,000 1,128,460 ----------- TOTAL SWITZERLAND.................................. 4,939,188 ----------- UNITED KINGDOM -- (3.6%) Barclays Bank P.L.C. 2.500%, 02/20/19.............................. 2,600 2,620,178 BP Capital Markets P.L.C. 3.125%, 10/01/15.............................. 408 417,922 2.248%, 11/01/16.............................. 1,651 1,689,955 1.846%, 05/05/17.............................. 250 253,511 British Telecommunications P.L.C. 2.000%, 06/22/15.............................. 874 881,903 1.250%, 02/14/17.............................. 272 271,301 Diageo Capital P.L.C. 1.500%, 05/11/17.............................. 890 895,082 Ensco P.L.C. 3.250%, 03/15/16.............................. 1,375 1,413,851 GlaxoSmithKline Capital P.L.C. 1.500%, 05/08/17.............................. 1,498 1,510,985 66 DFA SHORT-DURATION REAL RETURN PORTFOLIO CONTINUED Face Amount^ Value+ - ------- ------ (000) UNITED KINGDOM -- (Continued) Lloyds Bank P.L.C. 4.875%, 01/21/16............................. 1,002 $ 1,051,997 4.200%, 03/28/17............................. 780 831,807 Network Rail Infrastructure Finance P.L.C. 1.250%, 08/31/16............................. 329 332,827 Royal Bank of Scotland Group P.L.C. 2.550%, 09/18/15............................. 1,288 1,306,380 United Kingdom Gilt 1.750%, 07/22/19............................. GBP 4,350 7,025,014 Vodafone Group P.L.C. 5.625%, 02/27/17............................. 358 391,640 1.250%, 09/26/17............................. 1,500 1,484,652 ----------- TOTAL UNITED KINGDOM............................. 22,379,005 ----------- UNITED STATES -- (56.3%) 3M Co. 1.375%, 09/29/16............................. $ 715 725,300 1.000%, 06/26/17............................. 501 500,173 ABB Finance USA, Inc. 1.625%, 05/08/17............................. 189 190,635 AbbVie, Inc. 1.200%, 11/06/15............................. 358 360,016 ACE INA Holdings, Inc. 5.600%, 05/15/15............................. 255 261,744 2.600%, 11/23/15............................. 1,216 1,240,885 Actavis, Inc. 1.875%, 10/01/17............................. 1,276 1,264,790 Adobe Systems, Inc. 3.250%, 02/01/15............................. 715 719,734 Aetna, Inc. 2.200%, 03/15/19............................. 1,340 1,337,847 Aflac, Inc. 3.450%, 08/15/15............................. 134 137,031 2.650%, 02/15/17............................. 1,515 1,563,735 Agilent Technologies, Inc. 6.500%, 11/01/17............................. 153 176,379 Air Products & Chemicals, Inc. 2.000%, 08/02/16............................. 919 938,320 Allergan, Inc. 5.750%, 04/01/16............................. 40 42,580 Altria Group, Inc. 4.125%, 09/11/15............................. 610 628,088 Amazon.com, Inc. 0.650%, 11/27/15............................. 382 382,399 American Express Credit Corp. 2.800%, 09/19/16............................. 1,481 1,531,401 American Honda Finance Corp. 2.125%, 10/10/18............................. 2,196 2,214,732 American International Group, Inc. 5.600%, 10/18/16............................. 968 1,051,112 5.850%, 01/16/18............................. 556 626,592 Face Amount Value+ - ------ ------ (000) UNITED STATES -- (Continued) Ameriprise Financial, Inc. 5.650%, 11/15/15............................. $ 72 $ 75,604 Amgen, Inc. 4.850%, 11/18/14............................. 398 398,638 2.125%, 05/15/17............................. 1,000 1,019,860 Amphenol Corp. 2.550%, 01/30/19............................. 2,500 2,527,710 Anadarko Petroleum Corp. 5.950%, 09/15/16............................. 1,355 1,472,529 Anheuser-Busch Cos., LLC 5.000%, 01/15/15............................. 143 144,304 5.050%, 10/15/16............................. 379 408,398 Anheuser-Busch InBev Worldwide, Inc. 1.375%, 07/15/17............................. 1,717 1,719,327 Aon Corp. 3.500%, 09/30/15............................. 1,715 1,759,057 Apache Corp. 5.625%, 01/15/17............................. 527 576,823 1.750%, 04/15/17............................. 358 361,229 Apple, Inc. 1.000%, 05/03/18............................. 10,572 10,371,914 2.100%, 05/06/19............................. 4,000 4,022,544 Applied Materials, Inc. 2.650%, 06/15/16............................. 297 305,481 Assurant, Inc. 2.500%, 03/15/18............................. 715 720,546 AT&T, Inc. 2.500%, 08/15/15............................. 810 822,359 2.400%, 08/15/16............................. 465 476,430 1.600%, 02/15/17............................. 358 361,017 Autodesk, Inc. 1.950%, 12/15/17............................. 75 75,399 AutoZone, Inc. 6.950%, 06/15/16............................. 54 58,933 1.300%, 01/13/17............................. 1,035 1,037,616 Avnet, Inc. 6.000%, 09/01/15............................. 143 148,789 Baker Hughes, Inc. 7.500%, 11/15/18............................. 66 79,799 Bank of America Corp. 4.500%, 04/01/15............................. 715 726,566 3.750%, 07/12/16............................. 715 746,422 2.000%, 01/11/18............................. 415 415,906 Bank of New York Mellon Corp. (The) 2.950%, 06/18/15............................. 452 459,346 2.100%, 01/15/19............................. 1,000 999,644 2.200%, 05/15/19............................. 1,500 1,505,160 Baxter International, Inc. 1.850%, 06/15/18............................. 1,400 1,399,572 BB&T Corp. 2.150%, 03/22/17............................. 411 419,412 1.450%, 01/12/18............................. 141 139,700 Beam Suntory, Inc. 1.750%, 06/15/18............................. 1,431 1,418,902 67 DFA SHORT-DURATION REAL RETURN PORTFOLIO CONTINUED Face Amount Value+ - ------ ------ (000) UNITED STATES -- (Continued) Becton Dickinson and Co. 1.750%, 11/08/16............................. $ 1,882 $1,901,686 Berkshire Hathaway Finance Corp. 0.950%, 08/15/16............................. 715 719,023 1.600%, 05/15/17............................. 72 72,880 1.300%, 05/15/18............................. 7,264 7,192,348 Berkshire Hathaway, Inc. 2.200%, 08/15/16............................. 358 367,526 1.900%, 01/31/17............................. 358 365,277 Boeing Capital Corp. 2.900%, 08/15/18............................. 546 568,592 Boston Scientific Corp. 6.400%, 06/15/16............................. 72 77,978 2.650%, 10/01/18............................. 2,000 2,020,854 Branch Banking & Trust Co. 2.300%, 10/15/18............................. 1,073 1,090,569 Bristol-Myers Squibb Co. 1.750%, 03/01/19............................. 1,500 1,487,386 Brown-Forman Corp. 1.000%, 01/15/18............................. 495 486,871 Buckeye Partners L.P. 6.050%, 01/15/18............................. 1,310 1,458,976 2.650%, 11/15/18............................. 261 260,716 Campbell Soup Co. 3.050%, 07/15/17............................. 1,500 1,560,204 Capital One Bank USA NA 2.300%, 06/05/19............................. 2,000 1,988,460 Capital One Financial Corp. 2.150%, 03/23/15............................. 214 215,341 2.450%, 04/24/19............................. 900 902,666 Cardinal Health, Inc. 1.700%, 03/15/18............................. 1,919 1,910,802 CareFusion Corp. 1.450%, 05/15/17............................. 1,650 1,646,872 Caterpillar Financial Services Corp. 4.750%, 02/17/15............................. 250 253,182 2.650%, 04/01/16............................. 572 587,725 1.000%, 11/25/16............................. 715 717,746 2.450%, 09/06/18............................. 545 557,078 CBS Corp. 1.950%, 07/01/17............................. 621 629,487 Celgene Corp. 2.450%, 10/15/15............................. 297 301,937 CenterPoint Energy Resources Corp. 6.125%, 11/01/17............................. 39 44,303 CF Industries, Inc. 6.875%, 05/01/18............................. 2,413 2,788,214 Charles Schwab Corp. (The) 2.200%, 07/25/18............................. 372 376,119 Chevron Corp. 1.104%, 12/05/17............................. 383 380,411 1.718%, 06/24/18............................. 1,907 1,924,726 Face Amount Value+ - ------ ------ (000) UNITED STATES -- (Continued) Cigna Corp. 2.750%, 11/15/16............................. $ 739 $ 762,915 Citigroup, Inc. 4.450%, 01/10/17............................. 501 533,322 6.000%, 08/15/17............................. 501 558,999 2.500%, 09/26/18............................. 501 507,109 Clorox Co. (The) 5.950%, 10/15/17............................. 1,800 2,024,671 CNA Financial Corp. 6.500%, 08/15/16............................. 2,000 2,186,738 Coca-Cola Co. (The) 1.500%, 11/15/15............................. 381 385,170 1.150%, 04/01/18............................. 5,000 4,949,120 1.650%, 11/01/18............................. 4,543 4,546,739 Colgate-Palmolive Co. 1.500%, 11/01/18............................. 5,393 5,355,988 Comcast Corp. 6.500%, 01/15/17............................. 1,122 1,252,896 6.300%, 11/15/17............................. 286 326,637 5.700%, 05/15/18............................. 501 568,807 Comerica, Inc. 3.000%, 09/16/15............................. 143 145,915 2.125%, 05/23/19............................. 1,450 1,443,890 Computer Sciences Corp. 6.500%, 03/15/18............................. 669 742,376 ConAgra Foods, Inc. 1.900%, 01/25/18............................. 1,471 1,463,745 ConocoPhillips Co. 1.050%, 12/15/17............................. 1,334 1,319,893 Constellation Energy Group, Inc. 4.550%, 06/15/15............................. 695 710,670 Costco Wholesale Corp. 1.125%, 12/15/17............................. 1,216 1,207,929 CR Bard, Inc. 1.375%, 01/15/18............................. 277 275,419 Crane Co. 2.750%, 12/15/18............................. 608 618,460 Credit Suisse USA, Inc. 4.875%, 01/15/15............................. 286 288,466 CVS Health Corp. 3.250%, 05/18/15............................. 360 365,288 5.750%, 06/01/17............................. 22 24,419 Daimler Finance North America LLC 1.450%, 08/01/16............................. 1,500 1,509,757 DCP Midstream Operating L.P. 2.700%, 04/01/19............................. 1,035 1,037,613 Devon Energy Corp. 1.200%, 12/15/16............................. 2,000 2,022,976 Diamond Offshore Drilling, Inc. 4.875%, 07/01/15............................. 111 114,183 68 DFA SHORT-DURATION REAL RETURN PORTFOLIO CONTINUED Face Amount Value+ - ------ ------ (000) UNITED STATES -- (Continued) DIRECTV Holdings LLC / DIRECTV Financing Co., Inc. 3.550%, 03/15/15............................. $ 644 $ 650,553 Discovery Communications LLC 3.700%, 06/01/15............................. 2,000 2,035,576 Dollar General Corp. 1.875%, 04/15/18............................. 921 881,969 Dominion Resources, Inc. 1.950%, 08/15/16............................. 1,073 1,089,651 6.000%, 11/30/17............................. 140 157,823 Dover Corp. 4.875%, 10/15/15............................. 429 446,948 Dow Chemical Co. (The) 2.500%, 02/15/16............................. 1,297 1,324,112 Dr. Pepper Snapple Group, Inc. 2.900%, 01/15/16............................. 861 883,058 Duke Energy Corp. 3.350%, 04/01/15............................. 159 160,868 1.625%, 08/15/17............................. 794 798,770 2.100%, 06/15/18............................. 1,300 1,315,453 Eastman Chemical Co. 3.000%, 12/15/15............................. 317 324,373 2.400%, 06/01/17............................. 608 619,073 eBay, Inc. 1.625%, 10/15/15............................. 165 166,463 1.350%, 07/15/17............................. 123 122,148 Ecolab, Inc. 1.000%, 08/09/15............................. 715 717,324 Edwards Lifesciences Corp. 2.875%, 10/15/18............................. 1,000 1,019,334 EI du Pont de Nemours & Co. 3.250%, 01/15/15............................. 429 431,371 6.000%, 07/15/18............................. 708 811,381 EMC Corp. 1.875%, 06/01/18............................. 1,767 1,756,476 Enbridge Energy Partners L.P. 5.875%, 12/15/16............................. 72 78,645 Energy Transfer Partners L.P. 5.950%, 02/01/15............................. 1,325 1,340,999 Enterprise Products Operating LLC 5.000%, 03/01/15............................. 72 73,030 1.250%, 08/13/15............................. 215 215,791 3.200%, 02/01/16............................. 358 368,473 6.650%, 04/15/18............................. 2,000 2,314,644 EOG Resources, Inc. 2.950%, 06/01/15............................. 358 363,131 2.500%, 02/01/16............................. 182 185,848 5.875%, 09/15/17............................. 705 791,188 Exelon Corp. 4.900%, 06/15/15............................. 966 990,616 Face Amount Value+ - ------ ------ (000) UNITED STATES -- (Continued) Express Scripts Holding Co. 3.125%, 05/15/16............................. $ 1,930 $1,998,266 Exxon Mobil Corp. 0.921%, 03/15/17............................. 5,000 5,004,090 1.819%, 03/15/19............................. 5,472 5,492,301 Fifth Third Bancorp 3.625%, 01/25/16............................. 1,051 1,086,362 Fifth Third Bank 1.450%, 02/28/18............................. 3,000 2,974,761 FMC Technologies, Inc. 2.000%, 10/01/17............................. 1,120 1,128,417 Ford Motor Credit Co. LLC 5.000%, 05/15/18............................. 1,524 1,665,436 Freeport-McMoRan, Inc. 2.150%, 03/01/17............................. 299 304,064 GATX Corp. 1.250%, 03/04/17............................. 1,500 1,493,770 General Dynamics Corp. 1.000%, 11/15/17............................. 551 546,214 General Electric Capital Corp. 3.750%, 11/14/14............................. 215 215,183 2.250%, 11/09/15............................. 143 145,651 2.950%, 05/09/16............................. 286 295,717 1.600%, 11/20/17............................. 3,000 3,017,046 Genworth Holdings, Inc. 6.515%, 05/22/18............................. 34 38,287 Georgia Power Co. 0.750%, 08/10/15............................. 1,028 1,028,641 5.250%, 12/15/15............................. 217 228,823 Goldman Sachs Group, Inc. (The) 5.125%, 01/15/15............................. 422 425,541 3.625%, 02/07/16............................. 1,073 1,107,416 6.250%, 09/01/17............................. 2,381 2,668,870 Google, Inc. 2.125%, 05/19/16............................. 1,052 1,077,336 Halliburton Co. 1.000%, 08/01/16............................. 651 654,017 2.000%, 08/01/18............................. 3,970 3,998,147 Hartford Financial Services Group, Inc. (The) 4.000%, 03/30/15............................. 143 144,947 Hershey Co. (The) 4.850%, 08/15/15............................. 36 37,272 1.500%, 11/01/16............................. 358 363,425 Hewlett-Packard Co. 2.200%, 12/01/15............................. 1,379 1,399,179 2.600%, 09/15/17............................. 72 73,784 5.500%, 03/01/18............................. 358 399,188 2.750%, 01/14/19............................. 340 341,957 Hillshire Brands Co. (The) 2.750%, 09/15/15............................. 72 73,096 Home Depot, Inc. (The) 5.400%, 03/01/16............................. 64 68,065 2.250%, 09/10/18............................. 2,000 2,033,438 69 DFA SHORT-DURATION REAL RETURN PORTFOLIO CONTINUED Face Amount Value+ - ------ ------ (000) UNITED STATES -- (Continued) HSBC Finance Corp. 5.500%, 01/19/16............................. $ 143 $ 150,964 HSBC USA, Inc. 1.625%, 01/16/18............................. 1,130 1,129,339 Huntington Bancshares, Inc. 2.600%, 08/02/18............................. 1,043 1,058,735 Intel Corp. 1.950%, 10/01/16............................. 859 877,623 International Business Machines Corp. 1.250%, 02/08/18............................. 100 99,243 1.950%, 02/12/19............................. 537 536,806 Intuit, Inc. 5.750%, 03/15/17............................. 1,300 1,429,793 Jefferies Group LLC 5.125%, 04/13/18............................. 134 145,230 John Deere Capital Corp. 2.000%, 01/13/17............................. 472 481,949 1.200%, 10/10/17............................. 1,074 1,074,046 Johnson & Johnson 2.150%, 05/15/16............................. 143 146,474 Johnson Controls, Inc. 5.500%, 01/15/16............................. 450 475,358 2.600%, 12/01/16............................. 401 413,947 JPMorgan Chase & Co. 3.400%, 06/24/15............................. 179 182,233 3.150%, 07/05/16............................. 859 888,557 2.000%, 08/15/17............................. 125 126,476 2.350%, 01/28/19............................. 1,000 1,006,876 Kellogg Co. 1.875%, 11/17/16............................. 371 377,245 1.750%, 05/17/17............................. 314 316,738 KeyBank NA 1.100%, 11/25/16............................. 859 859,818 1.650%, 02/01/18............................. 2,000 1,995,052 KeyCorp 3.750%, 08/13/15............................. 1,275 1,305,225 Kimberly-Clark Corp. 1.900%, 05/22/19............................. 2,000 1,997,514 Kinder Morgan Energy Partners L.P. 3.500%, 03/01/16............................. 787 810,863 Kohl's Corp. 6.250%, 12/15/17............................. 358 403,912 Kraft Foods Group, Inc. 1.625%, 06/04/15............................. 838 843,159 Kroger Co. (The) 1.200%, 10/17/16............................. 480 480,728 6.400%, 08/15/17............................. 1,170 1,320,471 Laboratory Corp. of America Holdings 2.200%, 08/23/17............................. 1,633 1,657,185 Lockheed Martin Corp. 2.125%, 09/15/16............................. 95 97,212 Loews Corp. 5.250%, 03/15/16............................. 143 151,788 Face Amount Value+ - ------ ------ (000) UNITED STATES -- (Continued) Lorillard Tobacco Co. 2.300%, 08/21/17............................. $ 1,797 $1,815,791 Lowe's Cos., Inc. 5.000%, 10/15/15............................. 715 745,129 Marathon Oil Corp. 0.900%, 11/01/15............................. 1,274 1,275,238 Marsh & McLennan Cos., Inc. 2.300%, 04/01/17............................. 650 662,221 MasterCard, Inc. 2.000%, 04/01/19............................. 2,550 2,545,854 Mattel, Inc. 2.350%, 05/06/19............................. 3,000 2,981,127 McDonald's Corp. 5.350%, 03/01/18............................. 286 320,375 5.000%, 02/01/19............................. 4,506 5,041,232 McKesson Corp. 1.400%, 03/15/18............................. 2,740 2,694,239 Medtronic, Inc. 3.000%, 03/15/15............................. 465 469,372 Merck Sharp & Dohme Corp. 4.750%, 03/01/15............................. 215 218,102 MetLife, Inc. 5.000%, 06/15/15............................. 358 367,836 Microsoft Corp. 2.500%, 02/08/16............................. 787 806,806 Molson Coors Brewing Co. 2.000%, 05/01/17............................. 70 71,070 Mondelez International, Inc. 2.250%, 02/01/19............................. 2,000 1,996,064 Monsanto Co. 1.850%, 11/15/18............................. 2,155 2,147,632 Morgan Stanley 3.800%, 04/29/16............................. 100 103,945 4.750%, 03/22/17............................. 1,829 1,965,312 MUFG Union Bank NA 3.000%, 06/06/16............................. 1,996 2,057,018 Mylan, Inc. 2.550%, 03/28/19............................. 1,097 1,092,072 National City Corp. 4.900%, 01/15/15............................. 807 813,788 NetApp, Inc. 2.000%, 12/15/17............................. 715 721,177 Newell Rubbermaid, Inc. 6.250%, 04/15/18............................. 930 1,056,520 NextEra Energy Capital Holdings, Inc. 2.600%, 09/01/15............................. 1,073 1,089,759 2.400%, 09/15/19............................. 1,950 1,952,769 Nisource Finance Corp. 6.400%, 03/15/18............................. 215 245,758 Northeast Utilities 1.450%, 05/01/18............................. 1,235 1,215,765 Novartis Capital Corp. 2.900%, 04/24/15............................. 157 158,901 Nucor Corp. 5.750%, 12/01/17............................. 4,612 5,143,275 70 DFA SHORT-DURATION REAL RETURN PORTFOLIO CONTINUED Face Amount Value+ - ------ ------ (000) UNITED STATES -- (Continued) NYSE Euronext 2.000%, 10/05/17............................. $ 1,350 $1,375,068 Occidental Petroleum Corp. 2.500%, 02/01/16............................. 384 392,504 1.750%, 02/15/17............................. 705 714,105 Ohio Power Co. 6.000%, 06/01/16............................. 143 154,357 Omnicom Group, Inc. 5.900%, 04/15/16............................. 707 755,587 ONEOK Partners L.P. 6.150%, 10/01/16............................. 836 911,208 Oracle Corp. 5.250%, 01/15/16............................. 286 302,010 1.200%, 10/15/17............................. 1,665 1,659,559 PACCAR Financial Corp. 0.750%, 08/14/15............................. 715 716,816 1.600%, 03/15/17............................. 33 33,373 PepsiCo, Inc. 3.100%, 01/15/15............................. 62 62,322 0.750%, 03/05/15............................. 114 114,170 5.000%, 06/01/18............................. 670 745,358 2.250%, 01/07/19............................. 1,000 1,014,547 Pfizer, Inc. 1.500%, 06/15/18............................. 1,252 1,248,553 PG&E Corp. 2.400%, 03/01/19............................. 2,074 2,081,724 Philip Morris International, Inc. 2.500%, 05/16/16............................. 1,000 1,027,878 1.625%, 03/20/17............................. 358 362,195 Pioneer Natural Resources Co. 6.875%, 05/01/18............................. 2,000 2,292,864 Plains All American Pipeline L.P. / PAA Finance Corp. 6.500%, 05/01/18............................. 900 1,034,887 PNC Funding Corp. 2.700%, 09/19/16............................. 1,000 1,030,224 PPG Industries, Inc. 1.900%, 01/15/16............................. 275 278,747 Praxair, Inc. 1.250%, 11/07/18............................. 888 870,606 Precision Castparts Corp. 0.700%, 12/20/15............................. 2,000 2,004,230 Procter & Gamble Co. (The) 1.800%, 11/15/15............................. 358 363,317 Progress Energy, Inc. 5.625%, 01/15/16............................. 143 151,023 Prudential Financial, Inc. 3.000%, 05/12/16............................. 1,294 1,334,694 Quest Diagnostics, Inc. 5.450%, 11/01/15............................. 72 75,129 3.200%, 04/01/16............................. 1,343 1,382,770 Questar Corp. 2.750%, 02/01/16............................. 672 687,688 Face Amount Value+ - ------ ------ (000) UNITED STATES -- (Continued) Qwest Corp. 6.500%, 06/01/17............................. $ 72 $ 79,846 Raymond James Financial, Inc. 4.250%, 04/15/16............................. 1,000 1,046,470 Raytheon Co. 6.750%, 03/15/18............................. 293 340,416 Republic Services, Inc. 3.800%, 05/15/18............................. 388 412,510 Roper Industries, Inc. 2.050%, 10/01/18............................. 135 134,302 Ryder System, Inc. 2.500%, 03/01/18............................. 250 255,250 2.350%, 02/26/19............................. 2,000 1,999,268 Sempra Energy 6.500%, 06/01/16............................. 921 1,001,465 Southern Power Co. 4.875%, 07/15/15............................. 143 147,049 Starbucks Corp. 0.875%, 12/05/16............................. 752 752,834 2.000%, 12/05/18............................. 1,183 1,188,054 Starwood Hotels & Resorts Worldwide, Inc. 6.750%, 05/15/18............................. 367 423,533 State Street Corp. 2.875%, 03/07/16............................. 429 441,870 Stryker Corp. 1.300%, 04/01/18............................. 1,500 1,481,583 SunTrust Banks, Inc. 3.600%, 04/15/16............................. 715 743,154 Symantec Corp. 2.750%, 06/15/17............................. 358 363,845 Target Corp. 6.000%, 01/15/18............................. 1,400 1,589,475 TD Ameritrade Holding Corp. 4.150%, 12/01/14............................. 613 614,674 Tech Data Corp. 3.750%, 09/21/17............................. 358 371,705 Texas Instruments, Inc. 2.375%, 05/16/16............................. 662 680,582 Thermo Fisher Scientific, Inc. 3.200%, 05/01/15............................. 93 94,100 1.850%, 01/15/18............................. 2,166 2,167,458 Time Warner, Inc. 5.875%, 11/15/16............................. 893 977,306 2.100%, 06/01/19............................. 2,000 1,970,852 Toyota Motor Credit Corp. 2.800%, 01/11/16............................. 751 770,980 2.000%, 09/15/16............................. 358 365,844 1.125%, 05/16/17............................. 3,000 2,995,638 2.100%, 01/17/19............................. 572 575,700 Transatlantic Holdings, Inc. 5.750%, 12/14/15............................. 100 105,288 Travelers Cos., Inc. (The) 5.500%, 12/01/15............................. 608 639,850 71 DFA SHORT-DURATION REAL RETURN PORTFOLIO CONTINUED Face Amount Value+ - ------ ------ (000) UNITED STATES -- (Continued) Tyson Foods, Inc. 2.650%, 08/15/19............................. $ 2,000 $ 2,019,064 Unilever Capital Corp. 2.750%, 02/10/16............................. 650 666,974 2.200%, 03/06/19............................. 1,000 1,015,404 Union Pacific Corp. 2.250%, 02/15/19............................. 1,400 1,420,104 United Technologies Corp. 4.875%, 05/01/15............................. 64 65,400 1.800%, 06/01/17............................. 1,006 1,023,720 UnitedHealth Group, Inc. 6.000%, 06/15/17............................. 200 223,924 1.400%, 10/15/17............................. 1,444 1,451,766 US Bancorp 3.150%, 03/04/15............................. 215 216,960 1.950%, 11/15/18............................. 1,000 1,003,085 2.200%, 04/25/19............................. 2,000 2,009,726 Valero Energy Corp. 6.125%, 06/15/17............................. 251 279,084 Verizon Communications, Inc. 2.000%, 11/01/16............................. 1,245 1,267,079 Viacom, Inc. 1.250%, 02/27/15............................. 165 165,357 6.250%, 04/30/16............................. 358 386,204 2.500%, 12/15/16............................. 572 586,592 Wal-Mart Stores, Inc. 0.600%, 04/11/16............................. 215 215,150 2.800%, 04/15/16............................. 572 590,732 5.375%, 04/05/17............................. 448 494,414 1.125%, 04/11/18............................. 11,351 11,206,581 1.950%, 12/15/18............................. 490 492,924 Walgreen Co. 1.000%, 03/13/15............................. 990 991,574 1.800%, 09/15/17............................. 644 646,353 5.250%, 01/15/19............................. 34 37,989 Walt Disney Co. (The) 1.125%, 02/15/17............................. 1,214 1,218,404 Waste Management, Inc. 2.600%, 09/01/16............................. 1,465 1,508,929 WellPoint, Inc. 1.250%, 09/10/15............................. 2,000 2,011,370 5.875%, 06/15/17............................. 117 130,126 1.875%, 01/15/18............................. 3,000 3,004,077 Wells Fargo & Co. 1.500%, 07/01/15............................. 501 504,765 2.625%, 12/15/16............................. 762 788,754 2.100%, 05/08/17............................. 552 563,917 Western Gas Partners L.P. 2.600%, 08/15/18............................. 1,875 1,900,884 Western Union Co. (The) 5.930%, 10/01/16............................. 566 615,257 Whirlpool Corp. 7.750%, 07/15/16............................. 358 397,198 Williams Partners L.P. 3.800%, 02/15/15............................. 237 238,954 Face Amount Value+ - ------ ------ (000) UNITED STATES -- (Continued) Wyndham Worldwide Corp. 2.500%, 03/01/18............................. $ 1,805 $ 1,815,548 Xerox Corp. 4.250%, 02/15/15............................. 710 717,364 2.950%, 03/15/17............................. 2,000 2,069,440 Xilinx, Inc. 2.125%, 03/15/19............................. 2,500 2,499,187 Yum! Brands, Inc. 6.250%, 04/15/16............................. 647 694,078 6.250%, 03/15/18............................. 58 65,410 ------------ TOTAL UNITED STATES................................. 352,881,232 ------------ TOTAL BONDS......................................... 581,849,693 ------------ AGENCY OBLIGATIONS -- (4.2%) Federal Farm Credit Bank 4.875%, 12/16/15............................. 138 145,174 Federal Home Loan Bank 0.500%, 11/20/15............................. 645 646,974 4.875%, 05/17/17............................. 1,180 1,300,209 Federal Home Loan Mortgage Corporation 5.125%, 10/18/16............................. 358 389,201 5.000%, 04/18/17............................. 1,002 1,101,942 1.250%, 05/12/17............................. 5,358 5,409,839 1.000%, 07/28/17............................. 429 429,787 1.000%, 09/29/17............................. 66 65,918 3.750%, 03/27/19............................. 4,000 4,358,696 1.750%, 05/30/19............................. 4,000 4,004,744 Federal National Mortgage Association 4.875%, 12/15/16............................. 1,073 1,168,987 1.250%, 01/30/17............................. 358 362,222 5.000%, 02/13/17............................. 358 392,432 0.750%, 04/20/17............................. 5,300 5,288,345 1.875%, 09/18/18............................. 715 727,075 Tennessee Valley Authority 1.750%, 10/15/18............................. 715 719,257 ------------ TOTAL AGENCY OBLIGATIONS............................ 26,510,802 ------------ U.S. TREASURY OBLIGATIONS -- (2.9%) Treasury Inflation Protected Security ^^^ 0.125%, 04/15/18............................. 10,900 11,350,166 ++^^^ 0.125%, 04/15/19.............................. 6,800 6,948,726 ------------ TOTAL U.S. TREASURY OBLIGATIONS..................... 18,298,892 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $626,381,519)............................... $626,659,387 ============ 72 DFA SHORT-DURATION REAL RETURN PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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.............................. -- $ 27,364,146 -- $ 27,364,146 Austria................................ -- 2,056,691 -- 2,056,691 Belgium................................ -- 144,205 -- 144,205 Canada................................. -- 59,025,243 -- 59,025,243 Denmark................................ -- 710,737 -- 710,737 Finland................................ -- 7,732,495 -- 7,732,495 France................................. -- 15,646,454 -- 15,646,454 Germany................................ -- 14,054,423 -- 14,054,423 Italy.................................. -- 2,089,046 -- 2,089,046 Japan.................................. -- 10,980,315 -- 10,980,315 Netherlands............................ -- 27,684,025 -- 27,684,025 Norway................................. -- 3,637,055 -- 3,637,055 Singapore.............................. -- 545,112 -- 545,112 Supranational Organization Obligations. -- 21,943,544 -- 21,943,544 Sweden................................. -- 8,036,777 -- 8,036,777 Switzerland............................ -- 4,939,188 -- 4,939,188 United Kingdom......................... -- 22,379,005 -- 22,379,005 United States.......................... -- 352,881,232 -- 352,881,232 Agency Obligations....................... -- 26,510,802 -- 26,510,802 U.S. Treasury Obligations................ -- 18,298,892 -- 18,298,892 Swap Agreements**........................ -- (6,284,007) -- (6,284,007) Forward Currency Contracts**............. -- 17,518 -- 17,518 -- ------------ -- ------------ TOTAL.................................... -- $620,392,898 -- $620,392,898 == ============ == ============ **Not reflected in the Schedule of Investments, valued at the unrealized appreciation/(depreciation) on the investment. (Note G) See accompanying Notes to Financial Statements. 73 DFA SHORT-TERM MUNICIPAL BOND PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Face Amount Value+ ------ ------ (000) MUNICIPAL BONDS -- (99.6%) ALABAMA -- (0.4%) Alabama State (GO) Series A 5.000%, 08/01/19............................. $4,500 $ 5,308,110 City of Birmingham (GO) Series A (NATL-RE) 5.000%, 04/01/16............................. 2,800 2,984,436 ----------- TOTAL ALABAMA.................................... 8,292,546 ----------- ALASKA -- (0.2%) City of Anchorage (GO) Series B (NATL-RE) 5.000%, 12/01/14............................. 3,440 3,453,175 ----------- ARIZONA -- (1.6%) Arizona School Facilities Board (RB) 5.000%, 01/01/15............................. 1,125 1,133,831 Arizona State Transportation Board (RB) 5.000%, 07/01/17............................. 2,105 2,348,633 5.000%, 07/01/18............................. 5,050 5,800,733 City of Phoenix (GO) Series A 5.000%, 07/01/15............................. 1,250 1,288,100 Maricopa County Community College District (GO) 4.000%, 07/01/18............................. 2,210 2,455,796 3.000%, 07/01/20............................. 6,505 7,087,457 Pima County (GO) 3.000%, 07/01/16............................. 1,625 1,694,924 Salt River Project Agricultural Improvement & Power District (RB) Series A 5.000%, 01/01/15............................. 4,430 4,464,953 Salt River Project Agricultural Improvement & Power District (RB) Series B 4.000%, 12/01/14............................. 3,190 3,199,602 4.000%, 01/01/16............................. 5,000 5,210,250 ----------- TOTAL ARIZONA.................................... 34,684,279 ----------- ARKANSAS -- (0.7%) Arkansas State (GO) 5.000%, 04/01/18............................. 6,890 7,870,240 5.000%, 04/01/19............................. 7,240 8,464,574 ----------- TOTAL ARKANSAS................................... 16,334,814 ----------- COLORADO -- (1.2%) City & County of Denver (GO) Series A 5.000%, 08/01/17............................. 4,000 4,476,200 5.000%, 08/01/18............................. 7,745 8,922,162 5.000%, 08/01/20............................. 4,920 5,911,380 Face Amount Value+ ------ ------ (000) COLORADO -- (Continued) City of Aurora (GO) 5.000%, 12/01/14............................. $ 4,515 $ 4,532,112 Denver City & County School District No. 1 (GO) Series B (ST AID WITHHLDG) 4.000%, 12/01/18............................. 1,185 1,321,986 ----------- TOTAL COLORADO................................... 25,163,840 ----------- CONNECTICUT -- (2.7%) Connecticut State (GO) Series A 5.000%, 10/15/19............................. 5,350 6,306,205 Connecticut State (GO) Series B (AMBAC) 5.250%, 06/01/18............................. 17,310 19,931,253 Connecticut State (GO) Series C 5.000%, 12/01/15............................. 4,000 4,206,000 5.000%, 06/01/18............................. 9,980 11,403,847 Connecticut State Special Tax Revenue (RB) 5.000%, 01/01/19............................. 11,000 12,718,310 Hartford County Metropolitan District (GO) Series A 4.000%, 07/15/15............................. 3,900 4,004,442 ----------- TOTAL CONNECTICUT................................ 58,570,057 ----------- DELAWARE -- (1.6%) City of Wilmington (GO) Series A 5.000%, 12/01/14............................. 2,625 2,634,923 Delaware State (GO) 5.000%, 07/01/19............................. 5,000 5,885,050 Delaware State (GO) Series A 4.000%, 08/01/17............................. 5,100 5,573,229 5.000%, 08/01/19............................. 5,745 6,776,687 Delaware State (GO) Series C 5.000%, 03/01/18............................. 5,265 5,999,678 Delaware Transportation Authority (RB) Series A 5.000%, 07/01/15............................. 3,480 3,590,525 5.000%, 07/01/15............................. 4,270 4,405,615 ----------- TOTAL DELAWARE................................... 34,865,707 ----------- FLORIDA -- (3.9%) Florida State (GO) 5.000%, 07/01/15............................. 7,310 7,542,677 Florida State (GO) Series A 5.000%, 06/01/18............................. 4,000 4,579,800 5.000%, 06/01/20............................. 2,850 3,401,475 74 DFA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) FLORIDA -- (Continued) Florida State Board of Education (GO) Series A 5.000%, 06/01/17............................. $ 555 $ 617,537 5.000%, 06/01/19............................. 19,310 22,630,741 5.000%, 06/01/19............................. 10,100 11,836,897 Florida State Board of Education (GO) Series B 5.000%, 06/01/16............................. 2,500 2,682,925 5.000%, 06/01/17............................. 9,700 10,792,996 Florida State Board of Education (GO) Series C 5.000%, 06/01/15............................. 6,440 6,619,354 Florida's Turnpike Enterprise (RB) Series A 5.000%, 07/01/15............................. 4,000 4,122,200 Florida's Turnpike Enterprise (RB) Series B 5.000%, 07/01/16............................. 10,180 10,955,411 ----------- TOTAL FLORIDA.................................... 85,782,013 ----------- GEORGIA -- (4.0%) Athens-Clarke County Unified Government Water & Sewerage Revenue (RB) 5.000%, 01/01/17............................. 1,100 1,201,508 City of Albany (GO) 3.000%, 06/01/17............................. 2,220 2,338,859 De Kalb County School District (GO) (ST AID WITHHLDG) 4.000%, 11/01/17............................. 8,575 9,362,528 Georgia State (GO) Series A 5.000%, 07/01/19............................. 7,350 8,654,625 Georgia State (GO) Series A-1 5.000%, 02/01/20............................. 4,210 5,015,163 Georgia State (GO) Series D 5.000%, 07/01/17............................. 10,000 11,174,300 5.000%, 02/01/19............................. 7,970 9,300,592 Georgia State (GO) Series E-1 4.500%, 07/01/19............................. 6,890 7,956,985 Georgia State (GO) Series I 5.000%, 07/01/19............................. 17,475 20,576,812 Georgia State Road & Tollway Authority (RB) Series A 5.000%, 06/01/16............................. 255 272,863 5.000%, 06/01/17............................. 1,000 1,108,880 Georgia State Road & Tollway Authority (RB) Series B (ST GTD) 5.000%, 10/01/17............................. 8,510 9,576,388 ----------- TOTAL GEORGIA.................................... 86,539,503 ----------- HAWAII -- (3.1%) City & County of Honolulu (GO) Series B 5.000%, 11/01/19............................. 8,000 9,463,600 City & County of Honolulu (GO) Series B (AGM) 5.250%, 07/01/17............................. 1,175 1,318,949 Face Amount Value+ ------ ------ (000) HAWAII -- (Continued) City & County of Honolulu (GO) Series B (FSA) (AGM) 5.250%, 07/01/15............................. $ 4,220 $ 4,361,243 Hawaii State (GO) Series DG (AMBAC) 5.000%, 07/01/15............................. 15,945 16,446,151 Hawaii State (GO) Series DK 5.000%, 05/01/16............................. 7,000 7,486,220 Hawaii State (GO) Series DR 5.000%, 06/01/19............................. 9,725 11,378,445 Hawaii State (GO) Series DT 4.000%, 11/01/14............................. 4,950 4,950,000 Hawaii State (GO) Series EE 5.000%, 11/01/18............................. 11,495 13,293,508 ----------- TOTAL HAWAII..................................... 68,698,116 ----------- ILLINOIS -- (0.6%) Central Lake County Joint Action Water Agency (RB) 4.000%, 05/01/18............................. 6,195 6,844,174 City of Peoria (GO) Series D 4.000%, 01/01/17............................. 1,620 1,722,287 Du Page Cook & Will Counties Community College District No. 502 (GO) 5.000%, 06/01/16............................. 5,000 5,354,350 ----------- TOTAL ILLINOIS................................... 13,920,811 ----------- IOWA -- (0.2%) State of Iowa (RB) Series A 5.000%, 06/01/18............................. 4,185 4,772,532 ----------- KANSAS -- (0.3%) Kansas State Department of Transportation (RB) Series C 5.000%, 09/01/19............................. 4,975 5,870,898 ----------- KENTUCKY -- (0.5%) Kentucky State Asset Liability Commission (RB) Series A (AMBAC) 5.000%, 10/01/16............................. 500 543,815 Louisville & Jefferson County Metropolitan Sewer District (RB) Series B 5.000%, 05/15/15............................. 9,415 9,655,271 ----------- TOTAL KENTUCKY................................... 10,199,086 ----------- LOUISIANA -- (0.3%) Louisiana State (GO) Series A 5.000%, 02/01/18............................. 4,000 4,541,560 Saint Tammany Parish Wide School District No.12 (GO) (ASSURED GTY) 5.000%, 03/01/16............................. 930 986,990 ----------- TOTAL LOUISIANA.................................. 5,528,550 ----------- 75 DFA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) MARYLAND -- (5.4%) Charles County (GO) 5.000%, 03/01/19............................. $ 2,450 $ 2,862,384 Maryland State (GO) 5.000%, 03/01/19............................. 6,300 7,360,416 5.000%, 08/01/19............................. 2,000 2,358,160 Maryland State (GO) Series A 5.000%, 03/01/16............................. 3,900 4,143,282 5.000%, 08/01/19............................. 20,000 23,581,600 Maryland State (GO) Series B 5.000%, 08/01/19............................. 11,500 13,559,420 Maryland State (GO) Series C 5.000%, 03/01/16............................. 1,000 1,062,380 5.000%, 11/01/18............................. 9,305 10,800,500 Montgomery County (GO) Series A 5.000%, 11/01/14............................. 10,750 10,750,000 Prince George's County (GO) Series B 4.000%, 03/01/19............................. 9,575 10,787,003 4.000%, 03/01/20............................. 9,780 11,149,689 Prince George's County (GO) Series C 5.000%, 08/01/18............................. 10,075 11,610,329 University System of Maryland (RB) Series D 3.000%, 04/01/15............................. 2,200 2,225,762 Washington Suburban Sanitary Commission (GO) Series A 4.000%, 06/01/18............................. 5,000 5,556,700 ------------ TOTAL MARYLAND................................... 117,807,625 ------------ MASSACHUSETTS -- (4.7%) City of Boston (GO) Series A 5.000%, 03/01/18............................. 3,960 4,523,785 Commonwealth of Massachusetts (GO) Series B 5.000%, 08/01/18............................. 3,750 4,315,500 Commonwealth of Massachusetts (GO) Series C 5.000%, 08/01/20............................. 8,500 10,176,370 Commonwealth of Massachusetts (GO) Series C (GO OF CMNWLTH) 5.500%, 11/01/15............................. 7,200 7,579,008 Commonwealth of Massachusetts (GO) Series C (NATL-RE FGIC GO OF CMNWLTH) 5.500%, 11/01/14............................. 5,000 5,000,000 Commonwealth of Massachusetts (GO) Series D 5.500%, 11/01/14............................. 4,585 4,585,000 Face Amount Value+ ------ ------ (000) MASSACHUSETTS -- (Continued) Commonwealth of Massachusetts (GO) Series D (AMBAC) 5.500%, 10/01/19............................. $ 4,220 $ 5,079,656 Commonwealth of Massachusetts (GO) Series E 5.000%, 12/01/17............................. 15,000 16,976,550 Massachusetts Bay Transportation Authority (RB) Series A 5.250%, 07/01/19............................. 3,115 3,704,763 Massachusetts Water Pollution Abatement Trust (The) (RB) 2.000%, 08/01/16............................. 13,000 13,373,750 5.000%, 08/01/20............................. 5,830 7,008,302 Massachusetts Water Resources Authority (RB) Series J (AGM GO OF AUTH) 5.250%, 08/01/18............................. 18,000 20,937,240 ------------ TOTAL MASSACHUSETTS.............................. 103,259,924 ------------ MICHIGAN -- (1.6%) Chippewa Valley Schools (GO) (Q-SBLF) 5.000%, 05/01/17............................. 1,000 1,103,030 Michigan Finance Authority (RB) Series A 5.000%, 07/01/16............................. 2,590 2,788,627 5.000%, 07/01/18............................. 15,150 17,473,253 Michigan State (GO) 5.000%, 11/01/19............................. 10,700 12,595,077 ------------ TOTAL MICHIGAN................................... 33,959,987 ------------ MINNESOTA -- (4.9%) Chaska Independent School District No. 112 (GO) Series A (SD CRED PROG) 4.000%, 02/01/15............................. 5,740 5,793,324 City of Minneapolis (GO) 3.000%, 12/01/15............................. 8,700 8,961,696 2.000%, 12/01/18............................. 5,085 5,285,349 City of Minneapolis (GO) Series B 4.000%, 12/01/15............................. 8,830 9,190,176 Lakeville Independent School District No. 194 (GO) Series D (SD CRED PROG) 5.000%, 02/01/19............................. 4,425 5,147,735 Minnesota State (GO) Series A 5.000%, 08/01/17............................. 13,665 15,291,818 Minnesota State (GO) Series B 5.000%, 08/01/19............................. 4,000 4,712,240 4.000%, 08/01/20............................. 8,800 10,046,872 76 DFA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) MINNESOTA -- (Continued) Minnesota State (GO) Series F 5.000%, 10/01/17............................. $12,000 $ 13,503,720 Minnesota State (GO) Series H 5.000%, 11/01/14............................. 15,000 15,000,000 5.000%, 11/01/15............................. 5,000 5,238,500 University of Minnesota (RB) Series A (GO OF UNIV) 5.000%, 12/01/17............................. 5,040 5,704,121 Washington County (GO) Series A 5.000%, 02/01/15............................. 3,275 3,312,106 ------------ TOTAL MINNESOTA.......................................... 107,187,657 ------------ MISSOURI -- (0.6%) Missouri State (GO) Series A 4.000%, 10/01/17............................. 11,850 13,012,367 ------------ NEBRASKA -- (0.3%) University of Nebraska Facilities Corp. (RB) 5.000%, 07/15/16............................. 5,220 5,630,605 ------------ NEVADA -- (1.8%) Clark County (GO) 5.000%, 11/01/16............................. 7,425 8,036,004 Clark County School District (GO) Series B (AMBAC) 4.500%, 06/15/17............................. 5,770 6,325,247 Clark County School District (GO) Series C 5.000%, 06/15/16............................. 1,000 1,073,460 Nevada State (RB) (currency) 4.250%, 12/01/17 (Pre-refunded @ $100, 12/1/15).............................. 15,245 15,909,377 Truckee Meadows Water Authority (RB) 5.000%, 07/01/15............................. 3,900 4,023,864 Washoe County School District (GO) Series B 2.000%, 06/01/15............................. 3,000 3,031,740 ------------ TOTAL NEVADA............................................. 38,399,692 ------------ NEW HAMPSHIRE -- (0.2%) City of Dover (GO) 3.000%, 06/15/16............................. 1,850 1,926,553 3.000%, 06/15/17............................. 1,000 1,057,530 City of Nashua (GO) 5.000%, 03/15/17............................. 1,400 1,543,500 ------------ TOTAL NEW HAMPSHIRE...................................... 4,527,583 ------------ NEW JERSEY -- (0.7%) East Windsor Regional School District (GO) (SCH BD RES FD) 3.000%, 03/01/16............................. 625 646,488 Face Amount Value+ ------ ------ (000) NEW JERSEY -- (Continued) Livingston Township (GO) 3.000%, 01/15/16............................. $ 1,335 $ 1,377,947 3.000%, 01/15/17............................. 1,810 1,884,337 New Jersey State (GO) 5.000%, 06/01/18............................. 5,990 6,794,816 New Jersey State (GO) Series H 5.250%, 07/01/15............................. 3,500 3,614,065 ----------- TOTAL NEW JERSEY................................. 14,317,653 ----------- NEW MEXICO -- (0.8%) City of Albuquerque (GO) Series A 5.000%, 07/01/18............................. 4,775 5,486,714 New Mexico State (GO) 5.000%, 03/01/17............................. 4,745 5,246,641 New Mexico State Severance Tax Permanent Fund (RB) Series A 5.000%, 07/01/19............................. 6,500 7,644,065 ----------- TOTAL NEW MEXICO................................. 18,377,420 ----------- NEW YORK -- (7.8%) City of New York (GO) Series 1 5.000%, 08/01/17............................. 500 558,365 City of New York (GO) Series B 5.000%, 08/01/15............................. 10,000 10,359,500 City of New York (GO) Series C 5.000%, 08/01/15............................. 2,630 2,724,549 City of New York (GO) Series G 5.000%, 08/01/18............................. 8,000 9,193,600 5.000%, 08/01/19............................. 15,310 17,912,700 City of New York (GO) Series H-2 3.000%, 06/01/16............................. 4,000 4,164,760 City of New York (GO) Series H-A 5.000%, 03/01/19............................. 10,105 11,722,103 City of New York (GO) Series I 4.000%, 08/01/15............................. 4,130 4,247,994 Long Beach City School District (GO) (ST AID WITHHLDG) 3.000%, 05/01/16............................. 3,740 3,888,179 New York State (GO) Series C 3.000%, 02/01/15............................. 3,010 3,030,829 New York State Dormitory Authority (RB) Series A 5.000%, 02/15/15............................. 1,025 1,039,002 5.000%, 03/15/16............................. 20,000 21,281,400 5.000%, 02/15/18............................. 11,440 12,991,264 New York State Dormitory Authority (RB) Series C 5.000%, 03/15/19............................. 700 814,303 77 DFA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) NEW YORK -- (Continued) New York State Urban Development Corp. (RB) 5.000%, 12/15/17............................. $ 5,765 $ 6,530,361 5.000%, 12/15/18............................. 250 290,178 New York State Urban Development Corp. (RB) Series A 5.000%, 03/15/17............................. 2,195 2,424,904 Suffolk County (GO) Series A 4.000%, 04/01/16............................. 1,035 1,086,274 3.000%, 05/15/16............................. 3,325 3,452,381 Suffolk County (GO) Series B 3.000%, 10/15/15............................. 4,290 4,397,507 3.000%, 10/15/16............................. 2,000 2,094,240 Suffolk County (GO) Series B (AGM) 5.250%, 05/01/16............................. 3,315 3,549,304 Suffolk County (GO) Series C 4.000%, 10/15/15............................. 5,890 6,093,087 Town of Brookhaven (GO) Series A 3.000%, 02/01/19............................. 5,080 5,474,259 Town of Hempstead (GO) Series B 5.000%, 02/01/17............................. 5,165 5,674,476 5.000%, 02/01/18............................. 9,915 11,240,338 Triborough Bridge & Tunnel Authority (RB) Series B 4.000%, 11/15/18............................. 11,860 13,281,065 ------------ TOTAL NEW YORK................................... 169,516,922 ------------ NORTH CAROLINA -- (3.6%) City of Charlotte (GO) Series B 5.000%, 06/01/16............................. 2,335 2,506,226 County of Onslow NC (GO) 4.000%, 12/01/17............................. 525 577,059 Mecklenburg County (GO) Series B 2.000%, 03/01/16............................. 5,000 5,114,100 North Carolina State (GO) Series A 5.000%, 03/01/17............................. 9,025 9,968,112 5.000%, 03/01/19............................. 5,000 5,848,500 North Carolina State (GO) Series B 5.000%, 04/01/16............................. 7,350 7,836,276 5.000%, 06/01/18............................. 29,730 34,129,743 Sanford Enterprise (RB) Series A 5.000%, 06/01/15............................. 2,540 2,610,129 Wake County (GO) Series A 5.000%, 05/01/17............................. 2,675 2,966,709 Wake County (GO) Series B 5.000%, 05/01/18............................. 4,625 5,295,486 Wake County (GO) Series C 5.000%, 03/01/15............................. 1,400 1,422,092 ------------ TOTAL NORTH CAROLINA............................. 78,274,432 ------------ Face Amount Value+ ------ ------ (000) OHIO -- (4.6%) City of Columbus (GO) Series 1 5.000%, 07/01/20............................. $10,000 $ 11,980,800 City of Columbus (GO) Series A 5.000%, 02/15/17............................. 8,550 9,430,564 5.000%, 02/15/19............................. 10,000 11,666,200 Greater Cleveland Regional Transit Authority (GO) Series B 5.000%, 12/01/16............................. 2,725 2,971,531 Mason City School District (GO) (ETM) (NATL-RE FGIC) 5.000%, 12/01/15............................. 470 494,257 Mason City School District (GO) (NATL-RE FGIC) 5.000%, 12/01/15............................. 1,530 1,608,795 Ohio State (GO) 5.000%, 11/01/15............................. 2,425 2,540,672 5.000%, 09/01/19............................. 4,215 4,961,055 3.000%, 05/01/20............................. 5,000 5,418,500 Ohio State (GO) Series A 5.000%, 05/01/20............................. 7,000 8,343,230 Ohio State (GO) Series B 5.000%, 08/01/19............................. 4,420 5,193,633 Ohio State (GO) Series C 5.000%, 08/01/15............................. 4,000 4,143,520 5.000%, 08/01/17............................. 2,475 2,769,649 Ohio State Series B 5.000%, 08/01/20............................. 10,000 11,966,100 Ohio State University (The) (RB) Series A 5.000%, 12/01/14............................. 6,760 6,785,620 Ohio State University (The) (RB) Series A (ETM) 4.000%, 12/01/15............................. 55 57,219 Ohio State University (The) (RB) Series A (UP) 4.000%, 12/01/15............................. 945 983,547 Ohio State Water Development Authority (RB) Series A 5.000%, 06/01/16............................. 3,080 3,304,347 State of Ohio (RB) Series 1 3.000%, 12/15/14............................. 6,000 6,020,460 ------------ TOTAL OHIO....................................... 100,639,699 ------------ OKLAHOMA -- (1.3%) Cleveland County Independent School District No. 29 (GO) 1.500%, 03/01/16............................. 4,415 4,478,973 1.500%, 03/01/17............................. 1,465 1,491,267 Oklahoma State Turnpike Authority (RB) Series A 5.000%, 01/01/15............................. 1,320 1,330,388 78 DFA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) OKLAHOMA -- (Continued) Payne County Independent School District No. 16 Stillwater (GO) 1.500%, 06/01/17............................. $ 3,355 $ 3,416,397 Tulsa County Independent School District No. 1 Tulsa (GO) Series B 2.000%, 08/01/17............................. 5,800 6,000,970 Tulsa County Independent School District No. 1 Tulsa (GO) Series C 1.500%, 07/01/18............................. 5,745 5,856,166 Tulsa County Independent School District No. 3 (GO) 2.000%, 04/01/15............................. 2,425 2,443,382 2.000%, 04/01/16............................. 4,300 4,398,771 ----------- TOTAL OKLAHOMA................................... 29,416,314 ----------- OREGON -- (0.9%) City of Portland (GO) Series A 4.000%, 06/01/15............................. 2,000 2,044,380 Jackson County School District No. 5 (GO) (NATL-RE FGIC SCH BD GTY) 5.000%, 06/15/15............................. 1,965 2,022,574 Multnomah County (GO) 5.000%, 08/01/19............................. 4,580 5,393,225 Oregon State (GO) Series I 5.000%, 05/01/17............................. 7,565 8,400,025 Washington County School District No. 15 Forest Grove (GO) (AGM SCH BD GTY) 5.250%, 06/15/15............................. 1,555 1,601,759 ----------- TOTAL OREGON..................................... 19,461,963 ----------- PENNSYLVANIA -- (5.2%) Commonwealth of Pennsylvania (GO) 5.000%, 07/01/18............................. 3,755 4,298,611 Commonwealth of Pennsylvania (GO) Series 1 5.000%, 04/01/17............................. 8,000 8,841,440 5.000%, 11/15/18............................. 10,645 12,308,068 5.000%, 04/01/20............................. 8,500 10,068,165 Commonwealth of Pennsylvania (GO) Series 2 5.000%, 10/15/19............................. 2,250 2,649,780 Commonwealth of Pennsylvania (GO) Series A 5.000%, 02/15/16............................. 7,420 7,864,384 5.000%, 05/01/16............................. 2,025 2,164,705 5.000%, 02/15/19............................. 5,010 5,817,362 Commonwealth of Pennsylvania (GO) Series REF 5.000%, 07/01/19............................. 7,655 8,953,058 Face Amount Value+ ------ ------ (000) PENNSYLVANIA -- (Continued) Conestoga Valley School District (GO) (ST AID WITHHLDG) 4.000%, 01/15/17............................. $ 2,680 $ 2,857,684 Council Rock School District (GO) Series C (ST AID WITHHLDG) 5.000%, 11/15/17............................. 5,285 5,966,342 Pennsylvania Economic Dev. Financing Authority (RB) Series A 5.000%, 07/01/17............................. 19,555 21,829,246 5.000%, 07/01/19............................. 13,430 15,780,519 Tredyffrin Easttown School District (GO) (ST AID WITHHLDG) 5.000%, 02/15/15............................. 2,535 2,569,628 University of Pittsburgh of the Commonwealth System of Higher Education (RB) Series B (GO OF UNIV) 5.000%, 09/15/15............................. 1,850 1,927,349 ------------ TOTAL PENNSYLVANIA............................... 113,896,341 ------------ RHODE ISLAND -- (0.4%) Rhode Island State & Providence Plantations (GO) (AGM) 5.000%, 02/15/15............................. 2,130 2,158,670 Rhode Island State & Providence Plantations (GO) (AGM) (ETM) 5.000%, 02/15/15............................. 1,255 1,271,968 Rhode Island State & Providence Plantations (GO) Series A 4.000%, 08/01/17............................. 2,065 2,250,106 Rhode Island State & Providence Plantations (GO) Series E (NATL-RE) 5.000%, 11/01/15............................. 2,260 2,366,649 ------------ TOTAL RHODE ISLAND............................... 8,047,393 ------------ SOUTH CAROLINA -- (3.9%) Beaufort County School District (GO) Series D (SCSDE) 5.000%, 03/01/17............................. 6,425 7,075,917 Charleston County School District Dev. Corp. (GO) Series A (SCSDE) 5.000%, 02/01/19............................. 7,595 8,838,909 Clemson University (RB) 2.000%, 05/01/16............................. 1,355 1,388,170 Florence County (GO) (ST AID WITHHLDG) 4.000%, 06/01/19............................. 15,000 16,848,900 79 DFA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) SOUTH CAROLINA -- (Continued) Richland County School District No. 2 (GO) Series C (SCSDE) 5.000%, 02/01/16............................. $6,330 $ 6,700,875 5.000%, 02/01/19............................. 5,740 6,680,097 South Carolina State (GO) Series A 4.000%, 06/01/15............................. 6,000 6,133,140 5.000%, 06/01/20............................. 7,445 8,925,438 South Carolina State (GO) Series A (ST AID WITHHLDG) 5.000%, 10/01/16............................. 7,415 8,067,743 5.000%, 10/01/17............................. 7,445 8,382,474 South Carolina State Public Service Authority (RB) Series A (ETM) (NATL-RE FGIC) 5.500%, 01/01/15............................. 500 504,175 South Carolina State Public Service Authority (RB) Series E 5.000%, 01/01/15............................. 835 841,546 York County School District No. 3 (GO) Series B (SCSDE) 5.000%, 03/01/15............................. 4,770 4,845,128 ----------- TOTAL SOUTH CAROLINA............................. 85,232,512 ----------- SOUTH DAKOTA -- (0.1%) Sioux Falls School District No. 49-5 (GO) Series B 5.000%, 07/01/15............................. 1,500 1,547,745 ----------- TENNESSEE -- (1.1%) City of Chattanooga (GO) Series A 4.000%, 09/01/18............................. 9,160 10,224,484 City of Kingsport (GO) Series B 3.000%, 04/01/17............................. 2,005 2,104,468 City of Memphis (GO) (NATL-RE) 5.250%, 10/01/18............................. 4,000 4,659,560 City of Memphis (GO) Series A 5.000%, 04/01/17............................. 1,230 1,359,986 City of Memphis (GO) Series D 5.000%, 07/01/19............................. 4,180 4,903,265 Metropolitan Government Nashville & Davidson County Health & Educational Facs Bd (RB) Series E 4.000%, 10/01/17............................. 1,500 1,644,855 ----------- TOTAL TENNESSEE.................................. 24,896,618 ----------- Face Amount Value+ ------ ------ (000) TEXAS -- (11.5%) Carrollton-Farmers Branch Independent School District (GO) (PSF-GTD) 5.000%, 02/15/16.............................. $ 6,570 $ 6,965,251 City of Dallas (GO) 5.000%, 02/15/15.............................. 11,790 11,950,344 City of Dallas (GO) (ETM) 5.000%, 02/15/15.............................. 10 10,134 City of Dallas (GO) Series A 5.000%, 02/15/16.............................. 2,520 2,672,258 City of Dallas (GO) Series A (ETM) 5.000%, 02/15/16.............................. 10 10,595 City of Dallas (GO) Series C 5.000%, 02/15/15.............................. 2,430 2,462,999 City of Dallas (GO) Series C (ETM) 5.000%, 02/15/15.............................. 10 10,134 City of El Paso (GO) 3.000%, 08/15/17.............................. 500 531,865 City of Fort Worth Water & Sewer System (RB) 5.000%, 02/15/18.............................. 10,690 12,143,306 5.000%, 02/15/19.............................. 830 964,136 City of Frisco (GO) (NATL-RE FGIC) 5.250%, 02/15/16.............................. 1,175 1,249,742 City of Houston (GO) Series A 4.000%, 03/01/16.............................. 4,500 4,720,770 5.000%, 03/01/16.............................. 17,850 18,961,162 4.000%, 03/01/18.............................. 2,000 2,210,080 City of Houston (RN) 5.000%, 06/30/15.............................. 20,000 20,637,600 City of San Antonio (GO) 5.000%, 02/01/20.............................. 7,350 8,722,833 City of San Antonio Electric & Gas (RB) 5.375%, 02/01/15.............................. 5,975 6,050,285 City of San Antonio Electric & Gas (RB) Series A 5.000%, 02/01/15.............................. 3,025 3,060,393 5.000%, 02/01/16.............................. 2,875 3,043,446 City of San Antonio Electric & Gas (RB) Series D 5.000%, 02/01/19.............................. 700 813,064 Comal Independent School District (GO) Series A (PSF-GTD) 5.000%, 02/01/18.............................. 3,990 4,535,712 Dallas Independent School District (GO) (PSF-GTD) 5.250%, 02/15/18.............................. 2,000 2,292,240 Denton County (GO) Series A 5.000%, 07/15/15.............................. 3,960 4,093,808 El Paso County (GO) (NATL-RE) 5.000%, 02/15/16.............................. 2,490 2,630,536 80 DFA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) TEXAS -- (Continued) Fort Bend Independent School District (GO) (PSF-GTD) 5.000%, 08/15/15............................. $ 3,000 $ 3,112,800 Houston Independent School District (GO) Series A-1 5.000%, 02/15/15............................. 4,000 4,054,520 Mesquite Independent School District (GO) Series B (PSF-GTD) 5.000%, 08/15/17............................. 1,000 1,120,730 North Texas Municipal Water District (RB) 5.000%, 06/01/16............................. 2,130 2,285,511 Northwest Independent School District (GO) (PSF-GTD) 5.000%, 02/15/15............................. 1,000 1,013,550 Nueces County (GO) 2.000%, 02/15/15............................. 2,375 2,387,469 Permanent University Fund (RB) 5.000%, 07/01/18............................. 12,585 14,465,702 San Jacinto College District (GO) 5.000%, 02/15/17............................. 5,000 5,486,150 Texas Public Finance Authority (RB) Series A 5.000%, 07/01/15............................. 10,000 10,320,300 5.000%, 01/01/16............................. 3,345 3,528,206 Texas State (GO) 5.000%, 10/01/16............................. 5,000 5,437,150 5.000%, 04/01/17............................. 15,000 16,604,250 Texas State (GO) Series A 2.000%, 10/01/15............................. 14,330 14,571,174 Texas State (GO) Series B 5.000%, 10/01/16............................. 10,070 10,956,462 Texas Tech University (RB) Series 12 5.000%, 02/15/16............................. 2,095 2,221,308 Texas Tech University (RB) Series A 5.000%, 08/15/19............................. 3,025 3,549,475 Texas Transportation Commission State Highway Fund (RB) Series A 5.000%, 04/01/18............................. 5,000 5,707,700 5.000%, 04/01/19............................. 5,110 5,981,511 Travis County (GO) 4.000%, 03/01/15............................. 5,365 5,432,384 University of Texas System (The) (RB) Series C 5.000%, 08/15/19............................. 7,975 9,410,500 University of Texas System (The) (RB) Series F 5.000%, 08/15/15............................. 2,405 2,496,005 ------------ TOTAL TEXAS...................................... 250,885,550 ------------ Face Amount Value+ ------ ------ (000) UTAH -- (1.6%) Alpine School District (GO) (SCH BD GTY) 3.000%, 03/15/16............................. $ 2,770 $ 2,870,745 4.500%, 03/15/17............................. 4,000 4,374,080 Jordan School District (GO) (SCH BD GTY) 5.000%, 06/15/19............................. 16,420 19,267,064 Utah State (GO) Series C 4.500%, 07/01/19............................. 6,675 7,715,299 ------------ TOTAL UTAH....................................... 34,227,188 ------------ VERMONT -- (--%) Vermont State (GO) Series F 5.000%, 08/15/17............................. 625 701,375 ------------ VIRGINIA -- (6.0%) City of Norfolk (GO) Series A 4.000%, 03/01/16............................. 2,000 2,097,840 City of Norfolk (GO) Series C (ST AID WITHHLDG) 5.000%, 10/01/19............................. 2,500 2,951,225 City of Richmond (GO) Series A (AGM) 5.000%, 07/15/15............................. 5,040 5,209,596 City of Richmond (GO) Series C (ST AID WITHHLDG) 5.000%, 07/15/15............................. 5,325 5,504,186 Commonwealth of Virginia (GO) Series B 5.000%, 06/01/17............................. 10,460 11,650,034 5.000%, 06/01/19............................. 10,250 12,037,703 5.000%, 06/01/19............................. 5,705 6,700,009 Fairfax County (GO) Series A (ST AID WITHHLDG) 4.000%, 04/01/16............................. 3,065 3,224,840 4.000%, 10/01/18............................. 5,380 6,020,812 4.000%, 10/01/19............................. 12,300 13,954,719 4.000%, 10/01/20............................. 15,530 17,782,316 Fairfax County (GO) Series B (ST AID WITHHLDG) 4.000%, 04/01/19............................. 7,000 7,854,560 Henrico County (GO) 5.000%, 07/15/19............................. 5,460 6,431,552 Virginia Public School Authority (RB) (ST AID WITHHLDG) 5.000%, 08/01/19............................. 15,580 18,299,178 Virginia Resources Authority (RB) Series B 4.000%, 10/01/19............................. 4,875 5,535,806 Virginia State Public School Authority (RB) (ST AID WITHHLDG) 5.000%, 07/15/19............................. 4,080 4,799,875 ------------ TOTAL VIRGINIA................................... 130,054,251 ------------ 81 DFA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) WASHINGTON -- (5.4%) Central Puget Sound Regional Transit Authority (RB) Series P-1 5.000%, 02/01/18............................. $3,000 $3,406,170 City of Seattle (GO) 5.000%, 12/01/17............................. 4,050 4,575,731 City of Seattle (GO) Series B 5.000%, 08/01/15............................. 7,385 7,649,974 City of Seattle Water System Revenue (RB) 5.000%, 09/01/19............................. 3,890 4,580,514 King County School District No. 405 Bellevue (GO) Series B (SCH BD GTY) 5.000%, 12/01/16............................. 4,080 4,464,254 King County School District No. 414 Lake Washington (GO) (SCH BD GTY) 4.000%, 12/01/15............................. 2,430 2,528,585 King County Sewer Revenue (RB) 4.000%, 01/01/15............................. 6,595 6,636,021 4.000%, 01/01/16............................. 6,510 6,791,492 5.000%, 01/01/18............................. 4,670 5,287,748 Snohomish County Public Utility District No. 1 (RB) 5.000%, 12/01/15............................. 5,000 5,255,250 5.000%, 12/01/18............................. 2,390 2,761,215 5.000%, 12/01/19............................. 5,810 6,858,705 Washington State (GO) 5.000%, 07/01/17............................. 4,975 5,552,199 5.000%, 07/01/20............................. 3,650 4,362,006 Washington State (GO) Series 2010A 5.000%, 08/01/18............................. 4,500 5,182,155 Washington State (GO) Series 2010C 5.000%, 01/01/15............................. 6,100 6,148,312 Washington State (GO) Series A 5.000%, 01/01/16............................. 2,000 2,109,780 5.000%, 08/01/18............................. 2,735 3,149,599 Washington State (GO) Series D 5.000%, 02/01/19............................. 1,710 1,988,525 Face Amount Value+ ------ ------ (000) WASHINGTON -- (Continued) Washington State (GO) Series E 5.000%, 02/01/19............................. $ 4,080 $ 4,744,550 Washington State (GO) Series R 5.000%, 07/01/18............................. 7,065 8,118,038 Washington State (GO) Series R-2010A 5.000%, 01/01/15............................. 10,960 11,046,803 5.000%, 01/01/17............................. 1,215 1,332,891 Washington State (GO) Series R-2011C 4.000%, 07/01/15............................. 4,000 4,101,120 -------------- TOTAL WASHINGTON................................. 118,631,637 -------------- WISCONSIN -- (3.9%) City of Milwaukee (GO) 5.000%, 05/01/19............................. 10,010 11,681,770 City of Milwaukee (GO) Series N2 5.000%, 04/01/17............................. 5,000 5,517,000 5.000%, 04/01/20............................. 4,715 5,582,183 State of Wisconsin (GO) Series 1 (AMBAC) 5.000%, 05/01/19............................. 3,000 3,508,200 Wisconsin State (GO) Series 1 (AMBAC) 5.000%, 05/01/15............................. 18,510 18,950,353 5.000%, 05/01/16............................. 14,075 15,052,649 5.000%, 05/01/17............................. 9,000 9,981,540 Wisconsin State (GO) Series 2 5.000%, 11/01/19............................. 4,000 4,729,680 Wisconsin State (GO) Series A 4.000%, 05/01/16............................. 5,090 5,361,755 5.000%, 05/01/16............................. 4,780 5,112,019 -------------- TOTAL WISCONSIN.................................. 85,477,149 -------------- TOTAL MUNICIPAL BONDS............................ 2,170,063,529 -------------- Shares ------ TEMPORARY CASH INVESTMENTS -- (0.4%) JPMorgan Tax Free Money Market Fund.......... 8,995,689 8,995,689 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $2,163,660,888).......................... $2,179,059,218 ============== 82 DFA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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............ -- $2,170,063,529 -- $2,170,063,529 Temporary Cash Investments. $8,995,689 -- -- 8,995,689 ---------- -------------- -- -------------- TOTAL...................... $8,995,689 $2,170,063,529 -- $2,179,059,218 ========== ============== == ============== See accompanying Notes to Financial Statements. 83 DFA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Face Amount Value+ ------ ------ (000) MUNICIPAL BONDS -- (99.2%) ALASKA -- (0.1%) Borough of North Slope (GO) Series A 4.000%, 06/30/18............................. $ 400 $ 439,452 ---------- ARIZONA -- (1.2%) City of Phoenix (GO) Series A 5.000%, 07/01/15............................. 400 412,192 City of Scottsdale (GO) 5.000%, 07/01/15............................. 500 515,950 Maricopa County Community College District (GO) 4.000%, 07/01/18............................. 4,000 4,444,880 Pima County (GO) 3.000%, 07/01/16............................. 450 469,363 ---------- TOTAL ARIZONA.................................... 5,842,385 ---------- ARKANSAS -- (0.6%) Arkansas State (GO) 5.000%, 04/01/18............................. 2,500 2,855,675 Springdale School District No. 50 (GO) Series A (ST AID WITHHLDG) 4.000%, 06/01/16............................. 400 422,872 ---------- TOTAL ARKANSAS................................... 3,278,547 ---------- CALIFORNIA -- (0.1%) Los Angeles Unified School District (GO) Series KRY 5.000%, 07/01/15............................. 250 257,940 ---------- COLORADO -- (1.9%) Adams & Arapahoe Joint School District 28J (GO) (ST AID WITHHLDG) 5.000%, 12/01/21............................. 425 517,446 Arapahoe County School District No. 5 (GO) (ST AID WITHHLDG) 3.000%, 12/15/16............................. 750 788,835 5.000%, 12/15/19............................. 3,115 3,694,982 Boulder County (RB) 5.000%, 07/15/18............................. 540 618,570 City & County of Denver (GO) Series A 5.000%, 08/01/19............................. 2,085 2,460,488 Denver City & County School District No. 1 (GO) Series C (ST AID WITHHLDG) 3.000%, 12/01/23............................. 1,540 1,640,808 ---------- TOTAL COLORADO................................... 9,721,129 ---------- Face Amount Value+ ------ ------ (000) CONNECTICUT -- (3.5%) City of Middletown (GO) 4.000%, 04/01/22............................. $1,350 $ 1,530,995 Connecticut State (GO) Series A 5.000%, 10/15/17............................. 2,500 2,811,950 Connecticut State (GO) Series B (AMBAC) 5.250%, 06/01/18............................. 6,800 7,829,724 Connecticut State (GO) Series E 5.000%, 08/15/19............................. 2,775 3,258,932 Connecticut State Special Tax Revenue (ST) Revenue Series A (AMBAC) 4.000%, 08/01/16............................. 300 318,750 Town of Trumbull (GO) Series A 3.000%, 09/01/15............................. 1,630 1,668,028 3.000%, 09/01/16............................. 450 471,474 ----------- TOTAL CONNECTICUT................................ 17,889,853 ----------- DELAWARE -- (2.2%) Delaware State (GO) Series 2009C 5.000%, 10/01/17............................. 3,080 3,468,788 Delaware State (GO) Series A 5.000%, 08/01/23............................. 2,225 2,769,791 Delaware State (GO) Series B 5.000%, 07/01/18............................. 4,395 5,053,503 ----------- TOTAL DELAWARE................................... 11,292,082 ----------- FLORIDA -- (3.8%) Board of Governors State University System of Florida (RB) Series A 3.000%, 07/01/24............................. 2,580 2,674,273 City of Jacksonville (RB) 5.000%, 10/01/18............................. 315 361,963 City of Tallahassee Energy System (RB) 5.000%, 10/01/20............................. 250 298,180 Florida State (GO) Series A 5.000%, 06/01/20............................. 4,000 4,774,000 Florida State Board of Education (GO) Series A 5.000%, 06/01/17............................. 150 166,902 5.000%, 06/01/18............................. 5,000 5,724,750 5.000%, 06/01/19............................. 610 714,902 Florida State Board of Education (GO) Series B 5.000%, 06/01/17............................. 300 333,804 5.000%, 06/01/20............................. 800 954,800 Florida State Board of Education (GO) Series D 5.000%, 06/01/22............................. 1,000 1,227,150 84 DFA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) FLORIDA -- (Continued) Pasco County Water & Sewer (RB) Series A 4.000%, 10/01/17............................. $ 320 $ 350,320 Tampa Bay Water Supply (RB) 5.000%, 10/01/19............................. 450 531,693 Tampa Bay Water Supply (RB) Series A 5.000%, 10/01/16............................. 1,000 1,087,630 ----------- TOTAL FLORIDA.................................... 19,200,367 ----------- GEORGIA -- (1.3%) DeKalb County Water & Sewerage Revenue (RB) Series B 5.250%, 10/01/24............................. 2,830 3,506,257 Georgia State Road & Tollway Authority (RB) Series A 5.000%, 06/01/16............................. 1,200 1,284,060 Gordon County School District (GO) (ST AID WITHHLDG) 3.000%, 09/01/17............................. 250 263,375 Gwinnett County Water & Sewerage Authority (RB) (CNTY GTD) 3.000%, 08/01/17............................. 1,675 1,782,150 ----------- TOTAL GEORGIA.................................... 6,835,842 ----------- HAWAII -- (1.9%) City & County of Honolulu (GO) Series B 5.000%, 08/01/20............................. 1,470 1,759,913 City & County of Honolulu (GO) Series B (AGM) 5.250%, 07/01/17............................. 545 611,768 City & County of Honolulu (GO) Series C 2.000%, 11/01/16............................. 1,230 1,267,958 Hawaii State (GO) Series DO 5.000%, 08/01/16............................. 100 108,035 Hawaii State (GO) Series EA 5.000%, 12/01/21............................. 850 1,031,739 Hawaii State (GO) Series EF 5.000%, 11/01/22............................. 2,240 2,739,430 Maui County (GO) 5.000%, 06/01/18............................. 1,750 2,003,663 ----------- TOTAL HAWAII..................................... 9,522,506 ----------- ILLINOIS -- (0.2%) Chicago Park District (GO) Series 2008E 5.000%, 11/15/18............................. 250 286,608 University of Illinois (RB) Series A 5.000%, 04/01/20............................. 500 588,825 ----------- TOTAL ILLINOIS................................... 875,433 ----------- Face Amount Value+ ------ ------ (000) IOWA -- (0.2%) City of Ankeny (GO) Series D 4.000%, 06/01/18.............................. $ 700 $ 762,937 State of Iowa (RB) Series A 5.000%, 06/01/18.............................. 275 313,607 ----------- TOTAL IOWA......................................... 1,076,544 ----------- KANSAS -- (2.1%) City of Topeka (GO) Series A 4.000%, 08/15/15.............................. 450 463,352 Johnson County (GO) Series B 3.000%, 09/01/22.............................. 2,260 2,399,261 Johnson County Unified School District No. 232 (GO) Series A 5.000%, 09/01/17.............................. 400 445,000 Kansas State Department of Transportation (RB) Series A 5.000%, 09/01/17.............................. 4,075 4,575,981 Sedgwick County (GO) Series B 3.000%, 08/01/17.............................. 500 531,420 Sedgwick County Unified School District No. 260 (GO) 5.000%, 10/01/21.............................. 1,325 1,577,346 Wyandotte County Unified Government (GO) Series A 3.000%, 08/01/18.............................. 580 617,833 ----------- TOTAL KANSAS....................................... 10,610,193 ----------- LOUISIANA -- (2.7%) Bossier Parish School Board (GO) 4.000%, 03/01/17.............................. 1,020 1,093,715 Lafayette Louisiana Public Improvement Sales (RB) Series ST-A 4.000%, 03/01/17.............................. 1,330 1,424,523 Louisiana State (GO) Series A 5.000%, 02/01/24.............................. 2,000 2,463,940 Louisiana State (GO) Series C 5.000%, 07/15/22.............................. 6,445 7,848,141 Saint Tammany Parish Wide School District No.12 (GO) (ASSURED GTY) 5.000%, 03/01/16.............................. 575 610,236 ----------- TOTAL LOUISIANA.................................... 13,440,555 ----------- MARYLAND -- (7.2%) Anne Arundel County (GO) 5.000%, 04/01/22.............................. 2,475 3,017,941 Baltimore County (GO) Series C 4.000%, 09/01/18.............................. 2,410 2,693,922 Carroll County (GO) 4.000%, 11/01/18.............................. 2,890 3,237,840 Charles County (GO) 5.000%, 03/01/19.............................. 2,000 2,336,640 City of Baltimore (GO) Series B 5.000%, 10/15/22.............................. 8,060 9,794,915 85 DFA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) MARYLAND -- (Continued) Howard County (GO) Series A 5.000%, 02/15/18.............................. $2,000 $ 2,276,080 Maryland State (GO) 5.000%, 03/01/19.............................. 3,000 3,504,960 Maryland State (GO) Series A 5.000%, 03/01/16.............................. 1,000 1,062,380 Maryland State (GO) Series B 5.000%, 08/01/19.............................. 2,500 2,947,700 Prince George's County (GO) Series B 4.000%, 03/01/22.............................. 2,480 2,848,999 Town of Ocean City (GO) 3.000%, 10/01/18.............................. 825 875,317 University System of Maryland (RB) Series D 3.000%, 04/01/15.............................. 135 136,581 Washington Suburban Sanitary Commission (GO) Series A 4.000%, 06/01/18.............................. 1,550 1,722,577 ----------- TOTAL MARYLAND..................................... 36,455,852 ----------- MASSACHUSETTS -- (6.4%) City of Boston (GO) Series B 4.000%, 01/01/23.............................. 1,795 2,069,725 City of Woburn (GO) 4.000%, 09/01/22.............................. 350 395,574 Commonwealth of Massachusetts (GO) Series B 5.000%, 08/01/18.............................. 2,500 2,877,000 Commonwealth of Massachusetts (GO) Series B (AGM) 5.250%, 09/01/24.............................. 3,700 4,695,596 Commonwealth of Massachusetts (GO) Series C 5.000%, 08/01/20.............................. 2,500 2,993,050 Commonwealth of Massachusetts (GO) Series C (AMBAC) 5.500%, 12/01/23.............................. 3,500 4,468,310 Massachusetts Bay Transportation Authority (RB) Series B (NATL-RE) 5.500%, 07/01/24.............................. 3,020 3,891,693 Massachusetts Water Resources Authority (RB) Series A 5.000%, 08/01/22.............................. 3,000 3,663,870 Massachusetts Water Resources Authority (RB) Series J (AGM GO OF AUTH) 5.250%, 08/01/18.............................. 2,000 2,326,360 Town of Auburn (GO) 2.000%, 03/15/19.............................. 750 778,987 Town of Lynnfield (GO) 4.000%, 07/01/16.............................. 1,290 1,367,877 Town of Nantucket (GO) 3.000%, 10/01/22.............................. 1,115 1,196,150 Face Amount Value+ ------ ------ (000) MASSACHUSETTS -- (Continued) Town of Reading (GO) 5.000%, 02/01/18............................. $1,065 $ 1,205,154 Town of Westwood (GO) 3.000%, 06/01/16............................. 600 625,194 ----------- TOTAL MASSACHUSETTS.............................. 32,554,540 ----------- MICHIGAN -- (2.0%) Kentwood Public Schools (GO) 4.000%, 05/01/22............................. 500 562,560 Michigan Finance Authority (RB) Series A 5.000%, 07/01/16............................. 2,500 2,691,725 Michigan State Trunk Line Revenue (RB) 5.000%, 11/15/18............................. 5,000 5,779,050 University of Michigan (RB) Series A 4.000%, 04/01/23............................. 1,000 1,149,010 ----------- TOTAL MICHIGAN................................... 10,182,345 ----------- MINNESOTA -- (4.1%) Lakeville Minnesota Independent School District No. 194 (GO) Series D (SD CRED PROG) 5.000%, 02/01/22............................. 4,000 4,837,840 Minnesota Public Facilities Authority (RB) Series A 5.000%, 03/01/18............................. 620 705,851 Minnesota State (GO) 5.000%, 10/01/21............................. 4,660 5,681,659 Minnesota State (GO) Series D 5.000%, 08/01/17............................. 2,700 3,021,435 Minnesota State (GO) Series E 2.000%, 08/01/19............................. 1,810 1,879,902 Rochester Independent School District No. 535 (GO) Series A (SD CRED PROG) 3.000%, 02/01/22............................. 1,240 1,325,746 Stillwater Independent School District No. 834 (GO) Series A (SD CRED PROG) 3.000%, 02/01/16............................. 1,200 1,239,732 University of Minnesota (RB) Series A (GO OF UNIV) 5.000%, 12/01/17............................. 1,760 1,991,915 ----------- TOTAL MINNESOTA.................................. 20,684,080 ----------- MISSISSIPPI -- (0.7%) Mississippi State (GO) Series F 5.000%, 11/01/21............................. 2,750 3,337,537 ----------- MISSOURI -- (1.0%) City of Kansas City (GO) Series A 4.000%, 02/01/22............................. 1,150 1,305,089 86 DFA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) MISSOURI -- (Continued) City of Liberty (GO) 4.000%, 03/01/16............................. $ 385 $ 403,518 Missouri State (GO) Series A 4.000%, 10/01/17............................. 3,000 3,294,270 ---------- TOTAL MISSOURI................................... 5,002,877 ---------- NEVADA -- (0.6%) Clark County (RB) (AMBAC) 5.000%, 07/01/16............................. 400 430,468 Clark County School District (GO) Series A 5.000%, 06/15/19............................. 1,500 1,748,325 Clark County School District (GO) Series A (NATL-RE FGIC) 4.500%, 06/15/17............................. 400 438,492 Nevada State (GO) Series D 5.000%, 06/01/17............................. 425 472,311 ---------- TOTAL NEVADA..................................... 3,089,596 ---------- NEW HAMPSHIRE -- (0.5%) City of Dover (GO) 3.000%, 06/15/19............................. 600 641,328 City of Nashua (GO) 5.000%, 03/15/17............................. 330 363,825 City of Portsmouth (GO) 4.000%, 09/15/16............................. 1,395 1,487,754 ---------- TOTAL NEW HAMPSHIRE.............................. 2,492,907 ---------- NEW JERSEY -- (1.4%) Essex County (GO) Series A 5.000%, 08/01/20............................. 1,000 1,196,610 Livingston Township (GO) 3.000%, 01/15/21............................. 350 367,370 New Milford School District (GO) (SCH BD RES FD) 4.000%, 08/15/16............................. 440 467,707 Princeton Regional School District (GO) (ST AID WITHHLDG) 1.750%, 02/01/22............................. 1,095 1,051,561 South Orange & Maplewood School District (GO) (SCH BD RES FD) 3.000%, 03/01/22............................. 350 363,538 Township of North Brunswick (GO) 2.000%, 08/01/18............................. 1,075 1,092,501 Union County (GO) Series B 3.000%, 03/01/22............................. 2,360 2,516,657 ---------- TOTAL NEW JERSEY................................. 7,055,944 ---------- NEW MEXICO -- (0.9%) Farmington Municipal School District No. 5 (GO) (ST AID WITHHLDG) 4.000%, 09/01/20............................. 945 1,052,220 Face Amount Value+ ------ ------ (000) NEW MEXICO -- (Continued) Las Cruces School District No. 2 (GO) Series A (ST AID WITHHLDG) 4.000%, 08/01/19............................. $1,000 $ 1,103,790 4.000%, 08/01/20............................. 125 138,990 New Mexico State Severance Tax Permanent Fund (RB) Series A 5.000%, 07/01/19............................. 2,000 2,352,020 ----------- TOTAL NEW MEXICO................................. 4,647,020 ----------- NEW YORK -- (3.9%) Albany County (GO) Series B 4.000%, 11/01/18............................. 2,470 2,751,876 City of New York (GO) Series 1 5.000%, 08/01/17............................. 1,000 1,116,730 City of New York (GO) Series B 5.000%, 08/01/19............................. 600 702,000 5.000%, 08/01/22............................. 600 720,822 City of New York (GO) Series C 5.250%, 08/01/18............................. 430 498,099 City of New York (GO) Series E 5.000%, 08/01/23............................. 6,000 7,280,940 City of New York (GO) Series F 3.000%, 08/01/15............................. 150 153,179 City of New York (GO) Series G 5.000%, 08/01/19............................. 3,500 4,095,000 Malverne Union Free School District (GO) (ST AID WITHHLDG) 2.125%, 08/01/17............................. 605 626,169 New York State Dormitory Authority (RB) Series C 5.000%, 03/15/19............................. 825 959,714 New York State Urban Development Corp. (RB) 5.000%, 12/15/18............................. 510 591,962 ----------- TOTAL NEW YORK................................... 19,496,491 ----------- NORTH CAROLINA -- (2.6%) City of High Point (GO) 5.000%, 03/01/18............................. 700 791,014 Lincoln County (GO) Series A 2.000%, 06/01/17............................. 500 514,210 North Carolina State (GO) Series D 4.000%, 06/01/23............................. 6,550 7,593,939 Onslow County (GO) 5.000%, 04/01/17............................. 600 662,802 Wake County (GO) Series C 5.000%, 03/01/24............................. 3,000 3,744,540 ----------- TOTAL NORTH CAROLINA............................. 13,306,505 ----------- NORTH DAKOTA -- (0.1%) North Dakota State Board of Higher Education (RB) Series A 2.000%, 04/01/16............................. 300 306,807 ----------- 87 DFA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) OHIO -- (2.1%) City of Columbus (GO) Series 1 5.000%, 07/01/22............................. $2,500 $ 3,051,675 Oakwood City School District (GO) 2.000%, 12/01/17............................. 280 288,106 Ohio State (GO) Series A 5.000%, 09/01/19............................. 550 647,350 5.000%, 05/01/20............................. 1,555 1,853,389 3.000%, 02/01/22............................. 500 534,575 5.000%, 09/15/22............................. 500 609,415 Ohio State (GO) Series B 5.000%, 08/01/17............................. 400 447,620 Ohio State (GO) Series C 5.000%, 09/15/21............................. 1,000 1,211,400 Ohio State (RB) Series 1-GARVEE 5.000%, 12/15/17............................. 1,250 1,411,400 Ohio State Major New Street Infrastructure Project (RB) Series 2008-1 5.500%, 06/15/15............................. 500 516,365 ----------- TOTAL OHIO....................................... 10,571,295 ----------- OKLAHOMA -- (1.0%) City of Tulsa (GO) 5.000%, 12/01/17............................. 400 452,576 4.000%, 03/01/18............................. 1,500 1,657,560 Cleveland County Independent School District No. 29 (GO) 1.500%, 03/01/16............................. 1,250 1,268,112 Tulsa County Independent School District No. 1 (GO) 2.000%, 09/01/15............................. 1,090 1,106,383 Tulsa County Independent School District No. 3 (GO) 2.000%, 04/01/16............................. 425 434,762 ----------- TOTAL OKLAHOMA................................... 4,919,393 ----------- OREGON -- (1.2%) City of Portland (GO) 4.000%, 06/01/20............................. 935 1,036,775 Deschutes County (GO) 3.000%, 12/01/15............................. 225 231,671 Deschutes County Administrative School District No. 1 (GO) (NATL-RE FGIC) 5.000%, 06/15/16............................. 200 214,088 Lane County School District No. 4J Eugene (GO) Series A (SCH BD GTY) 5.000%, 06/15/23............................. 3,355 4,135,541 Washington County School District No. 1 (GO) (NATL-RE FGIC) 5.250%, 06/15/17............................. 400 446,784 ----------- TOTAL OREGON..................................... 6,064,859 ----------- Face Amount Value+ ------ ------ (000) PENNSYLVANIA -- (3.8%) Commonwealth of Pennsylvania (GO) Series 1 5.000%, 04/01/22............................. $8,000 $ 9,613,680 Commonwealth of Pennsylvania (GO) Series REF 5.000%, 07/01/17............................. 1,035 1,153,332 Marple Newtown School District (GO) (AGM ST AID WITHHLDG) 4.000%, 06/01/16............................. 375 395,831 Monroe County (GO) 4.000%, 12/15/18............................. 400 441,404 Montgomery County (GO) 5.000%, 05/01/23............................. 5,255 6,434,274 West View Municipal Authority Water Revenue (RB) 4.000%, 11/15/20............................. 1,100 1,240,327 ----------- TOTAL PENNSYLVANIA............................... 19,278,848 ----------- RHODE ISLAND -- (0.4%) Rhode Island State & Providence Plantations (GO) Series A 5.000%, 08/01/22............................. 1,605 1,930,735 ----------- SOUTH CAROLINA -- (4.4%) Beaufort County (GO) Series C (ST AID WITHHLDG) 5.000%, 03/01/22............................. 3,485 4,220,161 Berkeley County School District (GO) Series B (SCSDE) 5.000%, 03/01/22............................. 4,120 4,979,720 Charleston County (GO) Series A 5.000%, 11/01/22............................. 4,780 5,877,488 Clemson University (RB) 3.000%, 05/01/21............................. 350 374,504 South Carolina State (GO) Series A (ST AID WITHHLDG) 5.000%, 10/01/23............................. 5,500 6,865,210 ----------- TOTAL SOUTH CAROLINA............................. 22,317,083 ----------- TENNESSEE -- (4.2%) City of Johnson City (GO) 2.000%, 06/01/18............................. 1,000 1,031,790 3.000%, 06/01/19............................. 875 941,220 City of Pigeon Forge (GO) 4.000%, 06/01/21............................. 670 758,306 Hamilton County (GO) 3.000%, 03/01/22............................. 4,550 4,890,568 Metropolitan Government Nashville & Davidson County Health & Educational Facs Bd (RB) Series E 4.000%, 10/01/17............................. 2,000 2,193,140 88 DFA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) TENNESSEE -- (Continued) Metropolitan Government of Nashville & Davidson County (GO) 5.000%, 01/01/18.............................. $2,700 $ 3,058,074 Putnam County (GO) 4.000%, 04/01/23.............................. 975 1,111,403 Tennessee State (GO) Series A 4.000%, 09/01/18.............................. 3,325 3,720,708 Williamson County (GO) 4.000%, 03/01/18.............................. 1,445 1,597,794 Williamson County (GO) Series A 4.000%, 05/01/22.............................. 300 344,460 Wilson County (GO) (NATL-RE) 5.000%, 04/01/15.............................. 450 458,901 Wilson County (GO) Series B 4.000%, 04/01/20.............................. 1,040 1,176,812 ----------- TOTAL TENNESSEE.................................... 21,283,176 ----------- TEXAS -- (12.4%) Austin Independent School District (GO) (PSF-GTD) 5.000%, 08/01/20.............................. 350 418,814 City of Copperas Cove (GO) 4.000%, 08/15/15.............................. 750 772,373 City of Denton (GO) 4.000%, 02/15/22.............................. 2,510 2,833,865 City of Fort Worth Water & Sewer System (RB) 5.000%, 02/15/19.............................. 400 464,644 City of Houston (GO) Series A 5.000%, 03/01/18.............................. 750 853,327 5.000%, 03/01/21.............................. 3,100 3,712,746 5.000%, 03/01/22.............................. 5,890 7,092,267 City of Richardson (GO) 4.250%, 02/15/18.............................. 400 442,768 City of San Antonio (GO) 5.000%, 02/01/20.............................. 1,000 1,186,780 City of San Antonio Electric & Gas (RB) Series D 5.000%, 02/01/19.............................. 400 464,608 City of Southlake (GO) 3.000%, 02/15/23.............................. 1,510 1,606,821 Fort Bend Independent School District (GO) (PSF-GTD) 3.000%, 08/15/17.............................. 1,500 1,600,305 Galveston County (GO) 5.000%, 02/01/22.............................. 1,000 1,185,660 Grayson County (GO) 5.000%, 01/01/21.............................. 1,990 2,340,399 Harris County (GO) Series A 4.000%, 10/01/18.............................. 430 480,340 Harris County Metropolitan Transit Authority (RB) Series B 4.000%, 11/01/18.............................. 400 446,144 Hays Consolidated Independent School District (GO) (PSF-GTD) 5.000%, 08/15/23.............................. 1,355 1,666,013 Face Amount Value+ ------ ------ (000) TEXAS -- (Continued) Hidalgo County Drain District No. 1 (GO) 5.000%, 09/01/22............................. $1,000 $ 1,208,160 Houston Community College System (GO) 5.000%, 02/15/17............................. 1,000 1,099,860 La Porte Independent School District (GO) 5.000%, 02/15/21............................. 1,700 2,002,719 Mansfield Independent School District (GO) 5.000%, 02/15/20............................. 1,000 1,164,230 Mansfield Independent School District (GO) Series A (PSF-GTD) 5.000%, 02/15/22............................. 895 1,085,438 Mesquite Independent School District (GO) Series B (PSF-GTD) 5.000%, 08/15/17............................. 2,270 2,544,057 Northside Independent School District (GO) (PSF-GTD) 5.000%, 02/15/23............................. 4,535 5,564,128 Pflugerville Independent School District (GO) (PSF-GTD) 5.000%, 08/15/16............................. 350 378,686 Tarrant Regional Water District (RB) 6.000%, 09/01/24............................. 3,450 4,580,737 Texas A&M University (RB) Series B 5.000%, 05/15/21............................. 4,000 4,834,280 Texas A&M University Fund (RB) 5.000%, 07/01/23............................. 3,500 4,321,240 Texas Transportation Commission State Highway Fund (RB) 5.250%, 04/01/26............................. 300 384,861 Texas Transportation Commission State Highway Fund (RB) Series A 5.000%, 04/01/19............................. 5,000 5,852,750 ----------- TOTAL TEXAS...................................... 62,589,020 ----------- UTAH -- (1.1%) Davis County (GO) 4.000%, 02/01/18............................. 350 379,523 Jordan School District (GO) (SCH BD GTY) 5.000%, 06/15/17............................. 1,070 1,192,964 North Davis County Sewer District (RB) 3.000%, 03/01/21............................. 2,135 2,255,948 Washington County School District Board of Education/St George (GO) (SCH BD GTY) 5.000%, 03/01/18............................. 1,500 1,702,410 ----------- TOTAL UTAH....................................... 5,530,845 ----------- 89 DFA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) VERMONT -- (0.3%) Vermont State (GO) Series F 5.000%, 08/15/17............................. $1,500 $ 1,683,300 ----------- VIRGINIA -- (2.8%) City of Newport News (GO) Series A 2.000%, 07/15/18............................. 515 533,061 City of Norfolk (GO) Series C (ST AID WITHHLDG) 5.000%, 10/01/19............................. 2,505 2,957,127 Commonwealth of Virginia (GO) Series B 4.000%, 06/01/23............................. 2,500 2,894,200 Loudoun County (GO) Series A (ST AID WITHHLDG) 5.000%, 12/01/22............................. 4,000 4,913,800 Virginia Resources Authority (RB) Series B 4.000%, 10/01/19............................. 2,000 2,271,100 Virginia State Public School Authority (RB) Series D (ST AID WITHHLDG) 5.250%, 08/01/18............................. 500 576,990 ----------- TOTAL VIRGINIA................................... 14,146,278 ----------- WASHINGTON -- (10.3%) Benton County School District No. 400 Richland (GO) (SCH BD GTY) 5.000%, 12/01/22............................. 4,705 5,689,898 City of Seattle Municipal Light & Power (RB) Series A 5.000%, 06/01/22............................. 310 375,044 City of Seattle Municipal Light & Power (RB) Series B 5.000%, 02/01/16............................. 425 449,846 City of Seattle Water System Revenue (RB) 5.000%, 09/01/22............................. 6,000 7,336,140 Clark County School District No.119 Battleground (GO) (SCH BD GTY) 4.000%, 12/01/22............................. 2,630 2,997,122 King County (GO) 5.000%, 01/01/21............................. 425 511,037 King County School District No. 210 (GO) (SCH BD GTY) 2.000%, 12/01/18............................. 1,200 1,242,408 King County School District No. 412 (GO) (SCH BD GTY) 4.000%, 12/01/21............................. 1,000 1,135,510 North Thurston Public Schools (GO) (SCH BD GTY) 5.000%, 12/01/20............................. 2,880 3,451,824 Snohomish County Public Utility District No. 1 (RB) 5.000%, 12/01/19............................. 1,655 1,953,727 Face Amount Value+ ------ ------ (000) WASHINGTON -- (Continued) Snohomish County School District No. 15 Edmonds (GO) (SCH BD GTY) 5.000%, 12/01/20............................. $2,555 $ 3,044,334 Spokane County (GO) 5.000%, 12/01/22............................. 1,025 1,221,984 Spokane County Wastewater System (RB) Series A 5.000%, 12/01/15............................. 300 315,414 Thurston County School District No. 111 (GO) (SCH BD GTY) 5.000%, 12/01/21............................. 425 512,108 University of Washington (RB) Series A 5.000%, 07/01/22............................. 6,505 7,888,809 Washington State (GO) 5.000%, 07/01/17............................. 300 334,806 5.000%, 07/01/23............................. 3,800 4,657,812 Washington State (GO) Series 2010A 5.000%, 08/01/18............................. 500 575,795 Washington State (GO) Series A 5.000%, 08/01/23............................. 750 920,782 Washington State (GO) Series B-1 5.000%, 08/01/21............................. 1,300 1,568,346 Washington State (GO) Series D 5.000%, 02/01/19............................. 900 1,046,592 Washington State (GO) Series E 5.000%, 02/01/19............................. 2,000 2,325,760 Washington State (GO) Series R-2012C 4.000%, 07/01/21............................. 1,075 1,224,866 Washington State (GO) Series R-2015 5.000%, 07/01/18............................. 1,000 1,149,050 ------------ TOTAL WASHINGTON................................. 51,929,014 ------------ WISCONSIN -- (2.0%) Milwaukee County (GO) Series A 5.000%, 10/01/16............................. 520 565,568 Milwaukee County Metropolitan Sewer District (GO) Series A 5.500%, 10/01/15............................. 350 366,936 State of Wisconsin (GO) Series 1 (AMBAC) 5.000%, 05/01/19............................. 2,150 2,514,210 Sun Prairie Area School District (GO) 4.000%, 03/01/20............................. 570 623,352 Swallow School District (GO) 2.000%, 04/01/16............................. 390 398,958 Wisconsin State (GO) Series 2 5.000%, 11/01/20............................. 4,600 5,524,692 ------------ TOTAL WISCONSIN.................................. 9,993,716 ------------ TOTAL MUNICIPAL BONDS............................ 501,132,891 ------------ 90 DFA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Shares Value+ ------ ------ TEMPORARY CASH INVESTMENTS -- (0.8%) JPMorgan Tax Free Money Market Fund.......... 3,967,366 $ 3,967,366 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $495,736,875)............................ $505,100,257 ============ Summary of the Portfolio's investments as of October 31, 2014, 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............ -- $501,132,891 -- $501,132,891 Temporary Cash Investments. $3,967,366 -- -- 3,967,366 ---------- ------------ -- ------------ TOTAL...................... $3,967,366 $501,132,891 -- $505,100,257 ========== ============ == ============ See accompanying Notes to Financial Statements. 91 DFA CALIFORNIA SHORT-TERM MUNICIPAL BOND PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Face Amount Value+ ------ ------ (000) MUNICIPAL BONDS -- (94.1%) CALIFORNIA -- (94.1%) Alameda County Transportation Authority (RB) 3.000%, 03/01/17............................. $4,500 $ 4,771,215 5.000%, 03/01/20............................. 4,500 5,389,290 Atascadero Unified School District (GO) Series A (AGM) 3.000%, 08/01/15............................. 315 321,555 Bay Area Toll Authority (RB) 4.000%, 04/01/18............................. 4,055 4,501,618 5.000%, 04/01/19............................. 775 908,641 (currency) 5.000%, 04/01/34 (Pre-refunded @ $100, 4/1/18)............................... 5,320 6,094,273 (currency) 5.125%, 04/01/39 (Pre-refunded @ $100, 4/1/19)............................... 1,440 1,698,782 Bay Area Toll Authority (RB) Series F 5.000%, 04/01/15............................. 795 810,622 Berkeley Unified School District (GO) 3.000%, 08/01/15............................. 1,000 1,020,810 Berryessa Union School District (GO) (AMBAC) 5.375%, 08/01/18............................. 380 439,189 California Educational Facilities Authority (RB) 5.000%, 10/01/16............................. 700 760,081 California Educational Facilities Authority (RB) Series A 4.000%, 11/01/19............................. 850 943,993 California Health Facilities Financing Authority (RB) (currency) 6.500%, 10/01/38 (Pre-refunded @ $100, 10/1/18).............................. 8,310 10,131,303 California Health Facilities Financing Authority (RB) Series C (currency) 6.500%, 10/01/33 (Pre-refunded @ $100, 10/1/18).............................. 4,150 5,059,555 California State (GO) 3.000%, 11/01/14............................. 665 665,000 5.000%, 11/01/14............................. 9,000 9,000,000 6.000%, 02/01/15............................. 950 963,404 3.000%, 03/01/15............................. 500 504,670 5.000%, 03/01/15............................. 500 507,890 5.000%, 03/01/15............................. 3,900 3,961,542 4.000%, 04/01/15............................. 700 711,067 5.000%, 04/01/15............................. 1,000 1,019,860 5.000%, 09/01/15............................. 1,000 1,039,920 Face Amount Value+ ------ ------ (000) CALIFORNIA -- (Continued) 5.000%, 10/01/15............................. $ 1,000 $ 1,043,970 5.000%, 10/01/15............................. 500 521,985 3.000%, 11/01/15............................. 500 514,025 5.000%, 12/01/15............................. 700 736,127 5.000%, 02/01/16............................. 1,275 1,349,039 5.000%, 03/01/16............................. 1,245 1,322,663 1.000%, 05/01/16............................. 4,495 4,538,332 3.000%, 09/01/16............................. 1,500 1,570,740 5.000%, 09/01/16............................. 2,350 2,546,060 4.000%, 10/01/16............................. 1,175 1,254,982 5.000%, 10/01/16............................. 2,795 3,038,249 5.000%, 10/01/16............................. 2,090 2,271,893 5.000%, 10/01/16............................. 1,025 1,112,771 5.000%, 11/01/16............................. 3,410 3,719,730 4.000%, 09/01/17............................. 425 464,997 5.000%, 09/01/17............................. 3,600 4,039,344 5.000%, 11/01/17............................. 800 902,592 5.000%, 02/01/18............................. 1,900 2,155,265 5.500%, 04/01/18............................. 10,945 12,657,674 5.000%, 09/01/18............................. 250 288,118 5.000%, 09/01/18............................. 4,500 5,186,115 5.000%, 04/01/19............................. 3,500 4,083,765 5.500%, 04/01/19............................. 9,600 11,407,008 5.000%, 10/01/19............................. 4,415 5,204,976 5.000%, 10/01/19............................. 1,500 1,768,395 5.000%, 11/01/19............................. 2,485 2,934,338 5.000%, 02/01/20............................. 10,895 12,893,579 5.000%, 04/01/20............................. 3,705 4,397,020 5.000%, 09/01/20............................. 700 836,087 5.000%, 10/01/20............................. 3,410 4,079,929 5.000%, 09/01/21............................. 6,200 7,490,344 5.000%, 04/01/22............................. 1,800 2,172,690 5.250%, 10/01/22............................. 500 615,395 California State (GO) (AMBAC) 6.000%, 04/01/16............................. 1,265 1,365,492 6.000%, 02/01/17............................. 1,000 1,122,530 California State (GO) (NATL-RE) 4.125%, 06/01/15............................. 200 204,580 5.000%, 06/01/15............................. 310 318,652 4.000%, 09/01/15............................. 500 515,855 California State (GO) Series 2 4.000%, 09/01/15............................. 750 773,783 California State Department of Transportation (RB) Series A (NATL-RE FGIC) 5.000%, 02/01/15............................. 4,660 4,712,938 California State Department of Water Resources (RB) (NATL-RE) 5.000%, 12/01/14............................. 1,500 1,505,745 California State Department of Water Resources (RB) Series AE 5.000%, 12/01/14............................. 575 577,202 92 DFA CALIFORNIA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) CALIFORNIA -- (Continued) California State Department of Water Resources (RB) Series AR 5.000%, 12/01/15............................. $5,045 $5,303,102 California State Department of Water Resources Power Supply Revenue (RB) Series L 4.000%, 05/01/15............................. 2,790 2,842,480 5.000%, 05/01/15............................. 4,650 4,760,158 5.000%, 05/01/16............................. 1,385 1,479,914 5.000%, 05/01/17............................. 3,905 4,340,134 5.000%, 05/01/18............................. 950 1,088,776 5.000%, 05/01/20............................. 1,500 1,795,740 California State Department of Water Resources Power Supply Revenue (RB) Series M 4.000%, 05/01/15............................. 4,600 4,686,526 4.000%, 05/01/16............................. 2,650 2,792,278 5.000%, 05/01/16............................. 600 641,118 5.000%, 05/01/18............................. 500 573,040 4.000%, 05/01/19............................. 1,225 1,384,201 California State Economic Recovery (GO) Series A 5.000%, 07/01/19............................. 4,755 5,603,767 California State Public Works Board of Regents University California (RB) Series B (NATL-RE FGIC) 5.000%, 06/01/17............................. 1,275 1,422,148 California State University (RB) Series A 5.000%, 11/01/15............................. 6,250 6,547,500 5.000%, 11/01/16............................. 2,725 2,981,068 5.000%, 11/01/17............................. 1,700 1,925,046 5.000%, 11/01/18............................. 150 174,557 5.000%, 11/01/19............................. 3,660 4,351,081 5.000%, 11/01/19............................. 1,000 1,188,820 Chabot-Las Positas Community College District (GO) 4.000%, 08/01/22............................. 3,050 3,487,614 Chino Valley Unified School District (GO) Series A 4.000%, 08/01/17............................. 500 544,680 Chula Vista Elementary School District (GO) 4.000%, 08/01/17............................. 500 545,395 City & County of San Francisco (GO) 4.000%, 06/15/15............................. 2,000 2,047,260 5.000%, 06/15/15............................. 2,210 2,275,725 5.000%, 06/15/15............................. 6,000 6,176,940 4.000%, 06/15/16............................. 3,685 3,902,120 4.000%, 06/15/16............................. 1,145 1,212,463 5.000%, 06/15/16............................. 515 553,610 5.000%, 06/15/16............................. 705 757,854 Face Amount Value+ ------ ------ (000) CALIFORNIA -- (Continued) City & County of San Francisco (GO) Series A 5.000%, 06/15/15............................. $ 750 $ 772,305 5.000%, 06/15/15............................. 2,490 2,564,053 City & County of San Francisco (GO) Series R1 5.000%, 06/15/16............................. 4,565 4,907,238 5.000%, 06/15/20............................. 865 1,040,751 5.000%, 06/15/21............................. 250 304,520 City of Bakersfield School District (GO) Series A (AGM) 4.000%, 11/01/14............................. 400 400,000 City of Long Beach Harbor Revenue (RB) Series B 5.000%, 05/15/19............................. 815 958,962 City of Long Beach Harbor Revenue (RB) Series C 5.000%, 11/15/18............................. 2,035 2,369,574 City of Los Angeles (GO) Series A 3.000%, 09/01/15............................. 3,000 3,069,990 3.250%, 09/01/16............................. 500 526,125 5.000%, 09/01/20............................. 9,000 10,816,470 City of Los Angeles (GO) Series B 5.000%, 09/01/16............................. 4,500 4,878,000 City of Los Angeles (RB) Series A 4.000%, 06/01/15............................. 2,000 2,042,040 City of Los Angeles Wastewater System Revenue (RB) Series A 5.000%, 06/01/15............................. 10,000 10,277,900 City of Oakland (GO) 5.000%, 01/15/15............................. 500 504,840 City of San Francisco Public Utilities Commission Water Revenue (RB) 5.000%, 11/01/15............................. 1,150 1,204,383 City of San Francisco Public Utilities Commission Water Revenue (RB) (ETM) 5.000%, 11/01/15............................. 425 445,188 City of San Francisco Public Utilities Commission Water Revenue (RB) Series A 3.000%, 10/01/15............................. 275 281,988 City of San Francisco Public Utilities Commission Water Revenue (RB) Series A (ETM) 5.000%, 11/01/14............................. 1,560 1,560,000 City of Saratoga (GO) 3.000%, 08/01/16............................. 450 470,736 City of Tulare Sewer Revenue (RB) (AGM) 3.000%, 11/15/19............................. 200 212,478 93 DFA CALIFORNIA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) CALIFORNIA -- (Continued) Colton Joint Unified School District (GO) 5.000%, 08/01/16............................. $ 1,000 $ 1,077,990 Colton Joint Unified School District (GO) (AGM) 4.000%, 08/01/20............................. 1,000 1,127,570 Conejo Valley Unified School District (GO) 4.000%, 08/01/18............................. 700 769,286 Contra Costa County Public Financing Authority (RB) Series B (NATL-RE) 5.000%, 06/01/15............................. 1,700 1,745,934 Contra Costa Water Authority (RB) Series SER-A 1.000%, 10/01/15............................. 3,360 3,385,536 Contra Costa Water District (RB) Series Q 5.000%, 10/01/18............................. 705 818,921 5.000%, 10/01/19............................. 1,345 1,598,358 Cupertino Union School District (GO) Series B 4.000%, 08/01/15............................. 1,260 1,295,897 Davis Joint Unified School District Community Facilities District (ST) (AGM) 3.000%, 08/15/16............................. 955 999,465 Desert Sands Unified School District (GO) 4.000%, 08/01/18............................. 1,375 1,531,901 Dublin Unified School District (GO) 5.000%, 02/01/19............................. 11,775 13,687,613 East Bay Regional Park District (GO) Series A 4.000%, 09/01/21............................. 210 239,530 East Side Union High School District (GO) 2.000%, 08/01/18............................. 1,215 1,269,505 2.000%, 08/01/20............................. 1,055 1,092,147 El Rancho Unified School District (GO) (AGM) 4.000%, 08/01/20............................. 780 875,862 Fairfield-Suisun Sewer District (RB) (ASSURED GTY) 4.000%, 05/01/16............................. 1,625 1,713,010 Fairfield-Suisun Unified School District Financing Corp. (GO) 2.500%, 08/01/16............................. 750 777,795 Folsom Cordova Unified School District School Facilities Improvement Dist No. 2 (GO) 5.000%, 10/01/17............................. 845 951,402 Face Amount Value+ ------ ------ (000) CALIFORNIA -- (Continued) Folsom Cordova Unified School District School Facilities Improvement District No. 4 (GO) Series A (NATL-RE) 5.000%, 10/01/16.............................. $ 550 $ 596,767 Folsom Cordova Unified School District School Facilities Impt Dist No. 1 (GO) 4.000%, 10/01/16.............................. 985 1,050,099 Fontana Unified School District (GO) 5.000%, 08/01/16.............................. 955 1,031,219 5.000%, 08/01/18.............................. 3,140 3,623,529 5.000%, 08/01/19.............................. 1,285 1,517,071 4.000%, 08/01/20.............................. 3,620 4,152,285 Foothill-De Anza Community College District (GO) 4.000%, 08/01/19.............................. 550 625,900 Fremont Unified School District/ Alameda County (GO) 5.000%, 08/01/18.............................. 750 862,200 Fremont Union High School District (GO) (NATL-RE FGIC) 5.000%, 09/01/15.............................. 925 961,852 Fresno Unified School District (GO) Series A 4.000%, 08/01/16.............................. 1,695 1,800,937 Fresno Unified School District (GO) Series A (AGM) 4.000%, 08/01/17.............................. 1,820 1,984,710 Gilroy Public Facilities Financing Authority (RB) 4.000%, 11/01/14.............................. 400 400,000 Glendale Unified School District (GO) 4.000%, 09/01/15.............................. 1,160 1,196,586 Grossmont Union High School District (GO) 4.000%, 08/01/20.............................. 2,420 2,757,154 Grossmont Union High School District (GO) (NATL-RE) 5.000%, 08/01/15.............................. 1,160 1,201,261 Hemet Unified School District (GO) Series A (AGM) 5.625%, 08/01/15.............................. 355 369,321 Huntington Beach Public Financing Authority (RB) 3.000%, 09/01/16.............................. 950 994,802 Los Altos Elementary School District (GO) 5.000%, 08/01/19.............................. 975 1,151,085 4.000%, 08/01/21.............................. 1,550 1,788,855 Los Angeles Community College District (GO) Series F-1 3.000%, 08/01/15.............................. 500 510,555 94 DFA CALIFORNIA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) CALIFORNIA -- (Continued) Los Angeles Convention & Exhibit Center Authority (RB) Series A 5.000%, 08/15/17.............................. $ 975 $ 1,087,544 Los Angeles County Capital Asset Leasing Corp. (RB) Series A 3.000%, 06/01/16.............................. 3,870 4,020,079 Los Angeles County Metropolitan Transportation Authority (RB) 5.000%, 07/01/18.............................. 4,650 5,363,077 5.000%, 07/01/19.............................. 4,000 4,724,000 5.000%, 07/01/20.............................. 1,000 1,205,950 Los Angeles County Metropolitan Transportation Authority (RB) Series A 4.000%, 07/01/15.............................. 11,825 12,120,743 Los Angeles County Metropolitan Transportation Authority (RB) Series B 4.000%, 07/01/15.............................. 1,000 1,025,280 Los Angeles County Metropolitan Transportation Authority (RB) Series C 5.000%, 07/01/21.............................. 1,400 1,701,322 Los Angeles County Sanitation Districts Financing Authority (RB) Series A (MUN GOVT GTD) 5.000%, 10/01/16.............................. 1,000 1,087,830 Los Angeles Department of Water & Power (RB) Series A 5.000%, 07/01/16.............................. 1,730 1,862,674 5.000%, 07/01/18.............................. 2,375 2,740,132 5.000%, 07/01/19.............................. 2,990 3,529,695 Los Angeles Municipal Improvement Corp. (RB) Series A 4.000%, 11/01/14.............................. 2,770 2,770,000 4.000%, 11/01/16.............................. 1,795 1,921,027 5.000%, 03/01/17.............................. 4,300 4,737,740 Los Angeles Municipal Improvement Corp. (RB) Series A (NATL-RE FGIC) 4.000%, 01/01/16.............................. 400 416,440 Los Angeles Municipal Improvement Corp. (RB) Series C 3.000%, 03/01/16.............................. 750 774,983 Los Angeles Unified School District (GO) (NATL-RE) 5.750%, 07/01/15.............................. 2,370 2,456,932 Los Angeles Unified School District (GO) Series A 4.000%, 07/01/17.............................. 5,500 6,010,235 Face Amount Value+ ------ ------ (000) CALIFORNIA -- (Continued) Los Angeles Unified School District (GO) Series A-1 (FGIC) 5.500%, 07/01/18.............................. $2,745 $3,213,187 Los Angeles Unified School District (GO) Series A-2 5.000%, 07/01/21.............................. 2,200 2,667,324 Los Angeles Unified School District (GO) Series B 5.000%, 07/01/22.............................. 1,350 1,646,838 Los Angeles Unified School District (GO) Series C 2.000%, 07/01/17.............................. 2,800 2,912,168 5.000%, 07/01/20.............................. 500 599,345 Los Angeles Unified School District (GO) Series E (AMBAC) 5.000%, 07/01/15.............................. 875 902,790 Los Angeles Unified School District (GO) Series G (AMBAC) 5.000%, 07/01/16.............................. 930 1,001,322 Los Angeles Unified School District (GO) Series KRY 5.000%, 07/01/15.............................. 1,250 1,289,700 5.000%, 07/01/19.............................. 3,390 3,988,369 Madera County Transportation Authority (RB) (AGM) 3.000%, 03/01/15.............................. 1,020 1,026,834 Manhattan Beach Unified School District (GO) Series F 4.000%, 09/01/21.............................. 500 563,805 Metropolitan Water District of Southern California (RB) Series C 4.000%, 10/01/15.............................. 900 931,347 Morgan Hill Unified School District (GO) Series A 2.000%, 08/01/15.............................. 1,615 1,637,061 Mount Diablo Unified School District (GO) 5.000%, 02/01/19.............................. 500 578,735 New Haven Unified School District (GO) (AGM) 12.000%, 08/01/16............................. 2,480 2,978,455 12.000%, 08/01/17............................. 2,965 3,869,414 4.000%, 08/01/19.............................. 1,430 1,617,416 Newark Unified School District (GO) Series B 2.000%, 08/01/15.............................. 275 278,693 2.000%, 08/01/16.............................. 560 575,607 Newhall School District (GO) --%, 08/01/18................................. 6,995 6,716,389 Northern California Power Agency (RB) Series A 5.000%, 07/01/17.............................. 1,000 1,110,970 Oakland-Alameda County Coliseum Authority (RB) Series A 5.000%, 02/01/17.............................. 3,700 4,057,124 95 DFA CALIFORNIA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) CALIFORNIA -- (Continued) Oceanside Unified School District (GO) Series A (ASSURED GTY) 3.000%, 08/01/16............................. $ 350 $ 365,813 Orange County (RB) Series A (NATL-RE) 5.000%, 06/01/15............................. 2,000 2,055,580 Orange County Public Financing Authority (RB) (NATL-RE) 5.000%, 07/01/16............................. 3,000 3,228,510 Orange County Sanitation District (RB) Series A 5.000%, 02/01/24............................. 5,295 6,649,090 Palm Springs Financing Authority (RB) Series A 3.000%, 11/01/15............................. 625 642,025 Palm Springs Unified School District (GO) 5.000%, 08/01/15............................. 2,895 2,997,975 Palomar Pomerado Health (GO) Series A (AMBAC) 5.000%, 08/01/15............................. 500 517,215 Pasadena Unified School District (GO) 5.000%, 05/01/20............................. 550 654,577 Peralta Community College District (GO) 5.000%, 08/01/17............................. 1,000 1,119,630 5.000%, 08/01/19............................. 2,220 2,618,668 Peralta Community College District (GO) (AGM) 5.000%, 08/01/15............................. 450 466,007 Peralta Community College District (GO) Series C 5.000%, 08/01/15............................. 1,045 1,082,171 Petaluma Joint Union High School District (GO) Series A 2.000%, 08/01/15............................. 2,075 2,103,178 Pleasanton Unified School District (GO) (AGM) 5.250%, 08/01/16............................. 500 540,700 Poway Unified School District (GO) 3.250%, 08/01/18............................. 1,350 1,471,581 Rancho Santiago Community College District (GO) 3.000%, 09/01/15............................. 1,195 1,222,879 Rancho Santiago Community College District (GO) (AGM) 5.250%, 09/01/16............................. 300 326,562 Riverside County Transportation Commission (RB) Series A 5.000%, 06/01/18............................. 500 574,760 Sacramento Area Flood Control Agency (SA) Series A (NATL-RE FGIC) 5.000%, 10/01/15............................. 765 798,277 Face Amount Value+ ------ ------ (000) CALIFORNIA -- (Continued) Sacramento City Unified School District (GO) 5.000%, 07/01/24............................. $ 1,375 $ 1,668,219 Sacramento County Sanitation District (RB) (AMBAC) (currency) 5.000%, 12/01/35 (Pre-refunded @ $100, 12/1/14).............................. 4,040 4,054,302 Sacramento Municipal Utility District (RB) Series C 5.000%, 08/15/16............................. 6,610 7,151,756 Sacramento Municipal Utility District (RB) Series U (AGM) 5.000%, 08/15/17............................. 620 693,755 San Diego County Regional Transportation Commission (RB) Series A 4.000%, 04/01/18............................. 425 471,202 5.000%, 04/01/18............................. 1,285 1,467,817 San Diego Public Facilities Financing Authority (RB) Series B 5.000%, 05/15/16............................. 1,550 1,659,724 San Diego Public Facilities Financing Authority Sewer Revenue (RB) Series A 5.000%, 05/15/18............................. 350 402,483 San Diego Public Facilities Financing Authority Sewer Revenue (RB) Series B 5.000%, 05/15/18............................. 3,650 4,197,317 San Diego Public Facilities Financing Authority Water Revenue (RB) Series A 5.000%, 08/01/16............................. 6,200 6,698,170 San Diego Public Facilities Financing Authority Water Revenue (RB) Series B 3.750%, 08/01/15............................. 250 256,643 San Diego Unified School District (GO) Series B 1.000%, 07/01/15............................. 8,000 8,042,960 2.000%, 07/01/15............................. 15,600 15,785,952 San Francisco Community College District (GO) Series A (AGM) 5.000%, 06/15/15............................. 2,265 2,329,666 5.000%, 06/15/16............................. 2,495 2,674,091 San Francisco Community College District (GO) Series C 4.000%, 06/15/16............................. 845 892,117 4.000%, 06/15/18............................. 485 528,888 San Francisco Unified School District (GO) 5.000%, 06/15/16............................. 745 800,733 96 DFA CALIFORNIA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) CALIFORNIA -- (Continued) San Francisco Unified School District (GO) Series A 5.000%, 09/24/15............................. $ 7,000 $ 7,303,590 San Francisco Unified School District (GO) Series C (NATL-RE) 5.000%, 06/15/15............................. 1,400 1,441,552 San Juan Unified School District (GO) (AGM) 4.000%, 08/01/15............................. 600 617,052 San Juan Unified School District (GO) Series A 1.000%, 08/01/15............................. 5,400 5,433,858 San Juan Unified School District (GO) Series B 3.000%, 08/01/16............................. 700 732,004 San Leandro Unified School District (GO) Series B 4.000%, 08/01/21............................. 265 292,096 San Ramon Valley Unified School District (GO) 4.000%, 08/01/21............................. 4,225 4,884,860 Santa Clara County (GO) Series B 5.000%, 08/01/18............................. 5,000 5,784,000 Santa Clara County Financing Authority (RB) 5.000%, 02/01/19............................. 3,610 4,191,463 Santa Clara Unified School District (GO) 4.000%, 07/01/15............................. 500 512,575 Santa Clara Valley Transportation Authority (RB) Series B 5.000%, 04/01/18............................. 7,645 8,740,987 Santa Margarita-Dana Point Authority (RB) Series B (GO OF DIST) 4.000%, 08/01/17............................. 1,000 1,094,510 Sequoia Union High School District (GO) Series B (AGM) (currency) 5.500%, 07/01/35 (Pre-refunded @ $100, 7/1/16)............................... 9,030 9,809,560 Solano County Community College District (GO) (NATL-RE) 5.000%, 08/01/15............................. 1,115 1,154,661 South San Francisco Unified School District (GO) Series G 3.500%, 07/01/18............................. 19,075 20,912,113 Southern California Public Power Authority (RB) 4.000%, 07/01/15............................. 2,200 2,255,176 5.000%, 07/01/18............................. 1,135 1,307,270 5.000%, 07/01/18............................. 1,475 1,698,875 Face Amount Value+ ------ ------ (000) CALIFORNIA -- (Continued) Southwestern Community College District (GO) Series A 5.500%, 08/01/17............................. $ 275 $ 309,383 Sweetwater Union High School District (GO) 5.000%, 01/01/18............................. 1,750 1,976,800 Union Elementary School District (GO) Series A 3.000%, 09/01/18............................. 1,130 1,209,699 Upland Unified School District (GO) 1.000%, 08/01/16............................. 900 909,504 Vista Unified School District (GO) (AGM) 4.000%, 08/01/15............................. 1,000 1,028,420 West Contra Costa Unified School District (GO) (AGM) 5.000%, 08/01/17............................. 1,585 1,769,557 West Contra Costa Unified School District (GO) (ASSURED GTY) 5.000%, 08/01/17............................. 425 474,487 Westlands Water District (RB) Series A (AGM) 4.000%, 09/01/20............................. 1,045 1,185,124 Wiseburn School District (GO) Series A (NATL-RE) 5.000%, 08/01/15............................. 400 414,228 Yolo County Washington Unified School District (GO) 4.000%, 08/01/20............................. 1,000 1,132,250 Yosemite Community College District (GO) 1.000%, 08/01/17............................. 1,850 1,861,507 ------------ TOTAL MUNICIPAL BONDS............................ 655,332,550 ------------ COMMERCIAL PAPER -- (5.1%) California State University, 0.060%.......... 9,000 9,000,180 City & County of San Francisco 0.700%, 11/05/14........................... 12,888 12,888,129 0.080%, 11/05/14........................... 13,240 13,240,132 ------------ TOTAL COMMERCIAL PAPER...................................... 35,128,441 ------------ Shares ------ TEMPORARY CASH INVESTMENTS -- (0.8%) JPMorgan Tax Free Money Market Fund.......... 5,627,630 5,627,630 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $690,885,719)............................ $696,088,621 ============ 97 DFA CALIFORNIA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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............ -- $655,332,550 -- $655,332,550 Commercial Paper........... -- 35,128,441 -- 35,128,441 Temporary Cash Investments. $5,627,630 -- -- 5,627,630 ---------- ------------ -- ------------ TOTAL...................... $5,627,630 $690,460,991 -- $696,088,621 ========== ============ == ============ See accompanying Notes to Financial Statements. 98 DFA CALIFORNIA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Face Amount Value+ ------ ------ (000) MUNICIPAL BONDS -- (98.8%) CALIFORNIA -- (98.8%) Albany Unified School District (GO) 4.000%, 08/01/21............................. $ 240 $ 270,922 Alhambra Unified School District (GO) Series A (ASSURED GTY) 5.250%, 08/01/18............................. 375 426,229 Alum Rock Union Elementary School District (GO) Series A 5.000%, 09/01/21............................. 730 872,591 Amador County Unified School District (GO) 4.000%, 08/01/19............................. 385 415,835 Anaheim Public Financing Authority (RB) 5.000%, 08/01/17............................. 500 556,915 Antelope Valley Union High School District (GO) 4.000%, 08/01/21............................. 500 573,265 5.000%, 08/01/22............................. 1,650 2,012,472 Azusa Unified School District (GO) 5.000%, 07/01/21............................. 425 498,865 Baldwin Park Unified School District (GO) (AGM) 5.000%, 08/01/17............................. 100 111,355 Bay Area Toll Authority (RB) 4.000%, 04/01/18............................. 1,000 1,110,140 (currency) 5.000%, 04/01/34 (Pre-refunded @ $100, 4/1/18)............................... 1,000 1,145,540 (currency) 5.125%, 04/01/39 (Pre-refunded @ $100, 4/1/19)............................... 1,900 2,241,449 Berryessa Union School District (GO) (AMBAC) 5.375%, 08/01/18............................. 200 231,152 Buena Park School District (GO) (AGM) 2.500%, 08/01/21............................. 75 77,640 California Educational Facilities Authority (RB) 5.000%, 10/01/16............................. 500 542,915 California State (GO) 5.000%, 11/01/16............................. 150 163,625 5.000%, 02/01/18............................. 2,350 2,665,722 5.000%, 09/01/18............................. 1,325 1,527,023 5.000%, 10/01/18............................. 250 288,727 5.500%, 04/01/19............................. 1,075 1,277,347 3.125%, 10/01/19............................. 100 108,994 5.000%, 10/01/19............................. 250 294,732 4.000%, 11/01/19............................. 135 152,901 5.000%, 10/01/20............................. 375 448,672 Face Amount Value+ ------ ------ (000) CALIFORNIA -- (Continued) 5.000%, 02/01/21............................. $ 700 $ 840,301 5.000%, 04/01/21............................. 475 571,344 5.000%, 09/01/21............................. 3,705 4,476,085 5.000%, 02/01/22............................. 2,195 2,644,865 5.000%, 04/01/22............................. 500 603,525 4.000%, 09/01/22............................. 525 598,222 5.250%, 09/01/22............................. 940 1,155,580 5.250%, 10/01/22............................. 1,310 1,612,335 5.000%, 12/01/22............................. 1,245 1,511,779 5.000%, 02/01/23............................. 1,150 1,398,158 5.000%, 10/01/23............................. 100 122,531 5.000%, 11/01/23............................. 875 1,073,030 California State (GO) Series B 5.000%, 09/01/23............................. 2,285 2,797,480 California State Department of Water Resources (RB) Series AR 5.000%, 12/01/22............................. 3,210 3,973,049 5.000%, 12/01/23............................. 900 1,127,223 California State Department of Water Resources Power Supply Revenue (RB) Series L 5.000%, 05/01/17............................. 450 500,143 5.000%, 05/01/18............................. 1,260 1,444,061 5.000%, 05/01/20............................. 1,500 1,795,740 California State Department of Water Resources Power Supply Revenue (RB) Series M 4.000%, 05/01/19............................. 455 514,132 California State Economic Recovery (GO) Series A 4.400%, 07/01/18............................. 410 464,017 5.000%, 07/01/19............................. 600 707,100 California State University (RB) Series A 2.500%, 11/01/18............................. 1,500 1,598,700 5.000%, 11/01/18............................. 2,500 2,909,275 5.000%, 11/01/19............................. 450 534,969 California State University (RB) Series C (AGM) 5.000%, 11/01/22............................. 100 122,711 Capistrano Unified School District School Facilities Improvement District No. 1 (GO) 4.000%, 08/01/22............................. 170 192,826 Chabot-Las Positas Community College District (GO) 5.000%, 08/01/22............................. 900 1,093,383 4.000%, 08/01/23............................. 1,970 2,255,512 Chaffey Community College District (GO) Series E 4.000%, 06/01/22............................. 335 386,436 99 DFA CALIFORNIA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) CALIFORNIA -- (Continued) Chino Hills Financing Authority (RB) 4.000%, 06/01/18............................. $ 500 $ 556,610 Chino Valley Unified School District (GO) Series A 4.000%, 08/01/21............................. 200 228,894 Chula Vista Elementary School District (GO) 5.000%, 08/01/22............................. 1,835 2,216,129 City & County of San Francisco (GO) 4.000%, 06/15/20............................. 800 919,320 City & County of San Francisco (GO) Series A 5.000%, 06/15/22............................. 2,200 2,707,386 City & County of San Francisco (GO) Series R1 5.000%, 06/15/21............................. 470 572,498 City of Long Beach Harbor Revenue (RB) Series B 5.000%, 05/15/19............................. 250 294,160 City of Los Angeles (GO) Series A 4.000%, 09/01/18............................. 780 874,084 City of Los Angeles (GO) Series B 5.000%, 09/01/19............................. 600 707,742 City of Riverside Water Revenue (RB) Series A 5.000%, 10/01/18............................. 300 345,600 City of San Francisco Public Utilities Commission Water Revenue (RB) Series A 5.000%, 11/01/15............................. 40 41,892 5.000%, 11/01/15............................. 135 141,413 Coachella Valley Unified School District (GO) (BAM) 4.000%, 08/01/22............................. 825 926,995 Colton Joint Unified School District (GO) 5.000%, 08/01/21............................. 900 1,072,530 Colton Joint Unified School District (GO) Series C (NATL-RE FGIC) 5.000%, 02/01/15............................. 140 141,590 Conejo Valley Unified School District (GO) 2.000%, 08/01/18............................. 2,350 2,411,570 4.000%, 08/01/18............................. 115 126,383 Contra Costa County Public Financing Authority (RB) Series B (NATL-RE) 5.000%, 06/01/15............................. 200 205,404 Contra Costa County Walnut Creek Elementary School District (GO) 1.500%, 09/01/17............................. 500 507,360 Face Amount Value+ ------ ------ (000) CALIFORNIA -- (Continued) Culver City School Facilities Financing Authority (RB) (AGM GO OF DIST) 5.500%, 08/01/26............................. $ 855 $1,087,517 Cupertino Union School District (GO) Series A 4.000%, 08/01/17............................. 275 301,147 Davis Joint Unified School District (GO) 5.000%, 08/01/18............................. 420 484,844 Davis Joint Unified School District Community Facilities District (ST) (AGM) 3.000%, 08/15/22............................. 1,000 1,012,470 Davis Joint Unified School District Community Facilities District No. 2 (ST) (AGM) 3.000%, 08/15/19............................. 500 520,345 Dublin Unified School District (GO) 5.000%, 02/01/19............................. 425 494,033 5.000%, 08/01/23............................. 1,665 2,047,117 East Side Union High School District (GO) 4.000%, 08/01/21............................. 600 684,630 East Side Union High School District (GO) Series D 3.000%, 08/01/19............................. 825 891,223 El Dorado Irrigation District & El Dorado Water Agency (CP) Series A (ASSURED GTY) 4.000%, 08/01/16............................. 530 560,835 El Monte City School District (GO) Series A (ASSURED GTY) 5.000%, 08/01/15............................. 175 181,225 El Rancho Unified School District (GO) (AGM) 4.000%, 08/01/21............................. 1,285 1,443,659 Enterprise Elementary School District (GO) 4.000%, 09/01/19............................. 500 552,040 Escondido Union School District (GO) Series B (NATL-RE FGIC) 5.000%, 08/01/15............................. 450 466,110 5.000%, 08/01/16............................. 400 432,140 Fallbrook Union Elementary School District (GO) Series A 5.000%, 08/01/20............................. 200 239,078 Folsom Cordova Unified School District School Facilities Improvement District No. 4 (GO) Series A (NATL-RE) 5.000%, 10/01/16............................. 500 542,515 Fontana Unified School District (GO) 5.000%, 08/01/19............................. 600 708,360 100 DFA CALIFORNIA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) CALIFORNIA -- (Continued) 4.000%, 08/01/21.............................. $1,585 $1,827,061 4.000%, 08/01/22.............................. 875 1,010,730 Franklin-Mckinley School District (GO) (ASSURED GTY) 5.000%, 08/01/17.............................. 275 307,260 Grossmont Union High School District (GO) Series A 5.000%, 08/01/18.............................. 200 229,840 Huntington Beach Public Financing Authority (RB) 4.000%, 09/01/18.............................. 200 218,502 Jurupa Unified School District (GO) (AGM) 4.000%, 08/01/18.............................. 235 260,533 5.000%, 08/01/20.............................. 725 862,699 Liberty Union High School District (GO) 4.000%, 08/01/21.............................. 500 563,410 Lompoc Unified School District (GO) (ASSURED GTY) 5.250%, 08/01/20.............................. 540 638,545 Los Altos Elementary School District (GO) 4.000%, 08/01/21.............................. 250 288,525 Los Angeles Convention & Exhibit Center Authority (RB) Series A 4.500%, 08/15/18.............................. 300 337,401 Los Angeles County Metropolitan Transportation Authority (RB) 5.000%, 07/01/17.............................. 525 587,092 Los Angeles County Metropolitan Transportation Authority (RB) Series A 5.000%, 07/01/17.............................. 300 332,118 5.000%, 07/01/18.............................. 665 754,848 Los Angeles Department of Water & Power (RB) Series B 5.000%, 07/01/22.............................. 435 536,925 Los Angeles Municipal Improvement Corp. (RB) Series A 5.000%, 09/01/16.............................. 200 215,922 Los Angeles Municipal Improvement Corp. (RB) Series C 3.000%, 03/01/16.............................. 250 258,328 Los Angeles Unified School District (GO) (NATL-RE) 5.750%, 07/01/15.............................. 125 129,585 Los Angeles Unified School District (GO) Series A 3.000%, 07/01/19.............................. 475 515,845 5.000%, 07/01/20.............................. 150 179,804 2.000%, 07/01/22.............................. 630 634,460 Face Amount Value+ ------ ------ (000) CALIFORNIA -- (Continued) Los Angeles Unified School District (GO) Series C 5.000%, 07/01/23.............................. $1,000 $1,227,510 Los Angeles Unified School District (GO) Series D 4.000%, 07/01/17.............................. 200 218,554 Los Angeles Unified School District (GO) Series KRY 5.000%, 07/01/15.............................. 250 257,940 5.000%, 07/01/18.............................. 750 864,427 Los Rios Community College District (GO) Series B 5.000%, 08/01/23.............................. 510 628,422 Lynwood Unified School District (GO) (AGM) 5.000%, 08/01/21.............................. 450 538,150 5.000%, 08/01/22.............................. 485 583,814 Manhattan Beach Unified School District (GO) Series C 3.500%, 09/01/21.............................. 1,185 1,298,594 Manhattan Beach Unified School District (GO) Series E 3.000%, 09/01/22.............................. 560 593,678 Mendocino-Lake Community College District (GO) Series A (NATL-RE) 5.000%, 08/01/17.............................. 100 110,721 Merced Union High School District (GO) Series A (ASSURED GTY) 4.000%, 08/01/18.............................. 250 273,305 Montebello Unified School District (GO) 5.000%, 08/01/20.............................. 415 495,585 Moreno Valley Public Financing Authority (RB) 5.000%, 11/01/20.............................. 1,470 1,739,598 Morongo Unified School District (GO) 3.000%, 08/01/22.............................. 480 494,731 Mount Diablo Unified School District (GO) 3.250%, 08/01/19.............................. 500 544,180 New Haven Unified School District (GO) (ASSURED GTY) 5.000%, 08/01/19.............................. 150 176,558 Oakland Joint Powers Financing Authority (RB) Series B (ASSURED GTY) 4.500%, 08/01/18.............................. 500 564,060 Oceanside Unified School District (GO) 4.000%, 08/01/17.............................. 300 327,321 101 DFA CALIFORNIA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) CALIFORNIA -- (Continued) Oxnard Union High School District (GO) 4.000%, 08/01/21............................. $ 320 $ 360,582 4.000%, 08/01/22............................. 500 561,060 Oxnard Union High School District (GO) Series A (AGM) 4.000%, 08/01/15............................. 245 251,630 Peralta Community College District (GO) 5.000%, 08/01/17............................. 100 111,963 Peralta Community College District (GO) (AGM) 5.000%, 08/01/15............................. 200 207,114 Placentia-Yorba Linda Unified School District (GO) Series A 5.000%, 08/01/18............................. 275 315,593 Plumas Unified School District (GO) (AGM) 5.250%, 08/01/21............................. 800 942,688 Pomona Unified School District (GO) Series C 4.000%, 08/01/16............................. 250 264,950 Porterville Unified School District Facilities Improvement District (GO) Series B (AGM) 5.000%, 08/01/18............................. 450 511,267 5.000%, 08/01/19............................. 325 375,872 Poway Unified School District (GO) 5.000%, 08/01/19............................. 200 236,222 Rancho Santiago Community College District (GO) (AGM) 5.250%, 09/01/20............................. 500 607,885 Redlands Financing Authority (RB) Series A 5.000%, 09/01/22............................. 1,290 1,558,526 Roseville City School District (GO) 5.000%, 08/01/17............................. 400 447,620 Sacramento City Unified School District (GO) 5.000%, 07/01/18............................. 300 343,431 5.000%, 07/01/24............................. 1,800 2,183,850 Sacramento Municipal Utility District (RB) Series U (AGM) 5.000%, 08/15/17............................. 125 139,870 Saddleback Valley Unified School District (GO) 5.000%, 08/01/22............................. 465 568,648 San Diego County Regional Transportation Commission (RB) Series A 5.000%, 04/01/18............................. 1,365 1,559,199 San Diego County Water Authority (RB) Series A 4.000%, 05/01/17............................. 450 488,092 Face Amount Value+ ------ ------ (000) CALIFORNIA -- (Continued) San Diego Public Facilities Financing Authority Water Revenue (RB) Series A 5.000%, 08/01/16.............................. $ 400 $ 432,140 San Diego Unified School District (GO) Series C-2 (AGM) 5.500%, 07/01/21.............................. 600 745,020 5.500%, 07/01/25.............................. 2,000 2,571,120 San Dieguito Union High School District (GO) Series A-2 5.000%, 08/01/23.............................. 490 607,311 San Juan Unified School District (GO) 5.000%, 08/01/22.............................. 800 982,848 San Juan Unified School District (GO) Series B 3.000%, 08/01/16.............................. 260 271,887 San Ramon Valley Unified School District (GO) 4.000%, 08/01/21.............................. 1,500 1,734,270 Santa Ana Unified School District (GO) Series A 5.000%, 08/01/18.............................. 275 315,593 Santa Cruz City High School District (GO) 4.000%, 08/01/22.............................. 715 801,780 Santa Monica Community College District (GO) Series A 5.000%, 08/01/22.............................. 225 271,910 Santa Monica Public Financing Authority (RB) Series B 4.000%, 12/01/19.............................. 175 198,949 Saugus Union School District (GO) (NATL-RE FGIC) 5.250%, 08/01/17.............................. 500 562,770 Saugus/Hart School Facilities Financing Authority (RB) Series B 5.000%, 09/01/15.............................. 300 311,595 Sequoia Union High School District (GO) Series A 4.000%, 07/01/16.............................. 360 381,733 South San Francisco Unified School District (GO) Series G 3.500%, 07/01/18.............................. 600 657,786 Southern California Public Power Authority 5.000%, 07/01/19.............................. 650 766,350 Southern California Public Power Authority (RB) 5.000%, 07/01/18.............................. 250 287,945 4.000%, 07/01/19.............................. 575 651,866 Standard Elementary School District (GO) Series A 4.000%, 08/01/24.............................. 240 275,410 102 DFA CALIFORNIA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) CALIFORNIA -- (Continued) Stockton Unified School District (GO) (AGM) 5.000%, 07/01/20............................. $ 150 $ 175,610 Sweetwater Union High School District (GO) 5.000%, 01/01/18............................. 1,200 1,355,520 Val Verde Unified School District (GO) Series B (AGM) 3.000%, 08/01/17............................. 200 212,232 West Contra Costa Unified School District (GO) (AGM) 5.000%, 08/01/17............................. 195 217,706 West Contra Costa Unified School District (GO) (ASSURED GTY) 5.000%, 08/01/17............................. 175 195,377 West Contra Costa Unified School District (GO) Series B 6.000%, 08/01/20............................. 1,065 1,324,242 West Covina Unified School District (GO) (AGM) 5.000%, 08/01/21............................. 385 450,847 Western Riverside County Regional Wastewater Authority (RB) (ASSURED GTY) 5.000%, 09/01/19............................. 250 279,787 Face Amount Value+ ------ ------ (000) CALIFORNIA -- (Continued) Westside Union School District (GO) Series A 4.000%, 08/01/23............................. $ 700 $ 802,053 Wright Elementary School District (GO) Series A 3.000%, 08/01/20............................. 165 177,334 Yolo County Washington Unified School District 4.000%, 08/01/19............................. 450 507,204 Yosemite Union High School District (GO) (AGM) 4.000%, 08/01/19............................. 395 424,424 Yuba Community College District (GO) Series C 5.000%, 08/01/17............................. 240 267,182 ------------ TOTAL MUNICIPAL BONDS............................ 137,566,832 ------------ Shares ------ - TEMPORARY CASH INVESTMENTS -- (1.2%) JPMorgan Tax Free Money Market Fund.......... 1,732,831 1,732,831 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $136,127,188)............................ $139,299,663 ============ Summary of the Portfolio's investments as of October 31, 2014, 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............ -- $137,566,832 -- $137,566,832 Temporary Cash Investments. $1,732,831 -- -- 1,732,831 ---------- ------------ -- ------------ TOTAL...................... $1,732,831 $137,566,832 -- $139,299,663 ========== ============ == ============ See accompanying Notes to Financial Statements. 103 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2014 (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 $82,791, $213,022, $93,629 and $0 of securities on loan, respectively).................... $ 8,382,834 $ 6,099,665 $ 1,091,156 $ 2,034,308 Temporary Cash Investments at Value & Cost...................... 88,349 -- -- 9,217 Collateral from Securities on Loan Invested in Affiliate at Value & Cost................................................... 84,565 192,450 95,788 -- Foreign Currencies at Value..................................... -- 1,976 -- -- Cash............................................................ -- 39,093 22,286 9,951 Receivables: Investment Securities Sold.................................... -- 15,100 5,102 -- Interest...................................................... 30,065 48,336 8,091 16,896 Securities Lending Income..................................... 11 14 7 -- Fund Shares Sold.............................................. 17,255 11,671 554 2,496 Unrealized Gain on Forward Currency Contracts................... -- 12,820 734 -- Prepaid Expenses and Other Assets............................... 153 85 10 23 -------------- -------------- ------------ ------------ Total Assets............................................... 8,603,232 6,421,210 1,223,728 2,072,891 -------------- -------------- ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned.............................. 84,565 192,450 95,788 -- Investment Securities Purchased............................... 53,931 33,827 8,752 9,951 Fund Shares Redeemed.......................................... 7,505 3,293 899 801 Due to Advisor................................................ 1,079 786 140 294 Unrealized Loss on Forward Currency Contracts................... -- 1,389 18,441 -- Accrued Expenses and Other Liabilities.......................... 593 513 61 135 -------------- -------------- ------------ ------------ Total Liabilities.......................................... 147,673 232,258 124,081 11,181 -------------- -------------- ------------ ------------ NET ASSETS...................................................... $ 8,455,559 $ 6,188,952 $ 1,099,647 $ 2,061,710 ============== ============== ============ ============ Institutional Class Shares -- based on net assets of $8,455,559; $6,188,952; $1,099,647 and $2,061,710 and shares outstanding of 819,079,209; 617,879,326; 109,914,695 and 192,795,086, respectively...................... $ 10.32 $ 10.02 $ 10.00 $ 10.69 ============== ============== ============ ============ NUMBER OF SHARES AUTHORIZED..................................... 2,000,000,000 2,000,000,000 300,000,000 500,000,000 ============== ============== ============ ============ Investments at Cost............................................. $ 8,376,790 $ 6,187,274 $ 1,094,349 $ 2,032,194 ============== ============== ============ ============ Foreign Currencies at Cost...................................... $ -- $ 1,979 $ -- $ -- ============== ============== ============ ============ NET ASSETS CONSIST OF: Paid-In Capital................................................. $ 8,442,496 $ 6,215,178 $ 1,116,722 $ 2,052,665 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)......................................... 1,444 44,993 14,426 2,892 Accumulated Net Realized Gain (Loss)............................ 5,575 6,442 (10,545) 4,039 Net Unrealized Foreign Exchange Gain (Loss)..................... -- 9,951 (17,763) -- Net Unrealized Appreciation (Depreciation)...................... 6,044 (87,612) (3,193) 2,114 -------------- -------------- ------------ ------------ NET ASSETS...................................................... $ 8,455,559 $ 6,188,952 $ 1,099,647 $ 2,061,710 ============== ============== ============ ============ ---------- * See Note I in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 104 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2014 (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 $438,050, $0, $0 and $248,082 of securities on loan, respectively)............................... $ 9,715,368 $ 338,490 $ 3,964,094 $ 3,780,043 Temporary Cash Investments at Value & Cost.......................... -- -- 9,501 -- Collateral from Securities on Loan Invested in Affiliate at Value & Cost............................................................... 408,981 -- -- 232,898 Foreign Currencies at Value......................................... 8 446 -- 15 Cash................................................................ 48,241 9,315 -- 21,906 Receivables: Investment Securities Sold........................................ 69,662 -- -- -- Interest.......................................................... 54,473 3,179 47,142 24,992 Securities Lending Income......................................... 62 -- -- 23 Fund Shares Sold.................................................. 9,152 805 2,100 15,529 Unrealized Gain on Forward Currency Contracts....................... 9,125 10,652 -- 935 Unrealized Gain on Foreign Currency Contracts....................... 1 -- -- -- Prepaid Expenses and Other Assets................................... 112 16 31 51 -------------- ------------ ------------ ------------ Total Assets................................................... 10,315,185 362,903 4,022,868 4,076,392 -------------- ------------ ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned.................................. 408,981 -- -- 232,898 Investment Securities Purchased................................... 79,667 7,097 -- 17,090 Fund Shares Redeemed.............................................. 4,775 101 687 2,657 Due to Advisor.................................................... 2,080 45 342 600 Unrealized Loss on Forward Currency Contracts....................... 900 373 -- -- Unrealized Loss on Foreign Currency Contracts....................... -- 26 -- -- Accrued Expenses and Other Liabilities.............................. 666 20 223 253 -------------- ------------ ------------ ------------ Total Liabilities.............................................. 497,069 7,662 1,252 253,498 -------------- ------------ ------------ ------------ NET ASSETS.......................................................... $ 9,818,116 $ 355,241 $ 4,021,616 $ 3,822,894 ============== ============ ============ ============ Institutional Class Shares -- based on net assets of $9,818,116; $355,241; $4,021,616 and $3,822,894 and shares outstanding of 887,767,924; 32,848,305; 319,300,268 and 352,107,104, respectively....................................................... $ 11.06 $ 10.81 $ 12.60 $ 10.86 ============== ============ ============ ============ NUMBER OF SHARES AUTHORIZED......................................... 1,500,000,000 100,000,000 700,000,000 500,000,000 ============== ============ ============ ============ Investments at Cost................................................. $ 9,696,357 $ 346,874 $ 3,863,069 $ 3,765,086 ============== ============ ============ ============ Foreign Currencies at Cost.......................................... $ 9 $ 449 $ -- $ 16 ============== ============ ============ ============ NET ASSETS CONSIST OF: Paid-In Capital..................................................... $ 9,678,180 $ 339,071 $ 3,886,555 $ 3,793,542 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)............................................. 95,694 12,652 14,503 11,175 Accumulated Net Realized Gain (Loss)................................ 17,401 1,766 19,533 2,295 Net Unrealized Foreign Exchange Gain (Loss)......................... 7,831 10,139 -- 926 Net Unrealized Appreciation (Depreciation).......................... 19,010 (8,387) 101,025 14,956 -------------- ------------ ------------ ------------ NET ASSETS.......................................................... $ 9,818,116 $ 355,241 $ 4,021,616 $ 3,822,894 ============== ============ ============ ============ ---------- * See Note I in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 105 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2014 (Amounts in thousands, except share and per share amounts) DFA Intermediate- DFA Inflation- DFA Short- Term Extended DFA Protected Duration Real Quality Investment Securities Return Portfolio* Grade Portfolio Portfolio Portfolio ------------- --------------- -------------- ------------- ASSETS: Investments in Affiliated Investment Companies at Value...... -- $ 2,425,864 -- -- Investments at Value (including $433,933, $0, $0 and $0 of securities on loan, respectively)........................... $ 2,109,771 -- $ 2,712,308 $ 626,659 Temporary Cash Investments at Value & Cost................... -- 6,259 1,466 -- Temporary Cash............................................... 7,550 -- -- 15,419 Collateral from Securities on Loan Invested in Affiliate at Value & Cost................................................ 410,242 -- -- -- Segregated Cash for Swaps Contracts.......................... -- -- -- 220 Cash......................................................... -- -- -- 980 Receivables: Investment Securities Sold................................. 8,139 -- -- -- Interest................................................... 20,633 1 8,404 3,784 Securities Lending Income.................................. 35 -- -- -- Fund Shares Sold........................................... 2,903 3,109 2,259 914 Unrealized Gain on Swap Contracts............................ -- -- -- 82 Unrealized Gain on Forward Currency Contracts................ -- -- -- 18 Deferred Offering Costs...................................... -- -- -- 1 Prepaid Expenses and Other Assets............................ 20 41 28 31 ------------ ------------ ------------ ------------ Total Assets............................................ 2,559,293 2,435,274 2,724,465 648,108 ------------ ------------ ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned........................... 410,242 -- -- -- Investment Securities Purchased............................ 14,238 1,400 -- 9,377 Fund Shares Redeemed....................................... 456 657 1,943 112 Due to Advisor............................................. 343 12 233 88 Unrealized Loss on Swap Contracts............................ -- -- -- 6,366 Accrued Expenses and Other Liabilities....................... 120 148 143 88 ------------ ------------ ------------ ------------ Total Liabilities....................................... 425,399 2,217 2,319 16,031 ------------ ------------ ------------ ------------ NET ASSETS................................................... $ 2,133,894 $ 2,433,057 $ 2,722,146 $ 632,077 ============ ============ ============ ============ Institutional Class Shares -- based on net assets of $2,133,894; $2,433,057; $2,722,146 and $632,077 and shares outstanding of 197,572,296; 226,154,795; 231,757,094 and 63,227,791, respectively.................... $ 10.80 $ 10.76 $ 11.75 $ 10.00 ============ ============ ============ ============ NUMBER OF SHARES AUTHORIZED.................................. 300,000,000 400,000,000 500,000,000 100,000,000 ============ ============ ============ ============ Investments in Affiliated Investment Companies at Cost....... $ -- $ 2,405,219 $ -- $ -- ------------ ------------ ------------ ------------ Investments at Cost.......................................... $ 2,084,275 $ -- $ 2,658,789 $ 626,382 ============ ============ ============ ============ NET ASSETS CONSIST OF: Paid-In Capital.............................................. $ 2,092,335 $ 2,411,651 $ 2,663,995 $ 634,035 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)................................... 7,030 2,881 (238) 4,114 Accumulated Net Realized Gain (Loss)......................... 9,033 (2,120) 4,870 (81) Net Unrealized Foreign Exchange Gain (Loss).................. -- -- -- 16 Net Unrealized Appreciation (Depreciation)................... 25,496 20,645 53,519 (6,007) ------------ ------------ ------------ ------------ NET ASSETS................................................... $ 2,133,894 $ 2,433,057 $ 2,722,146 $ 632,077 ============ ============ ============ ============ ---------- * See Note I in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 106 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2014 (Amounts in thousands, except share and per share amounts) DFA DFA California DFA Short- Intermediate- DFA California Intermediate- Term Term Short-Term Term Municipal Municipal Municipal Municipal Bond Portfolio Bond Portfolio Bond Portfolio Bond Portfolio -------------- -------------- -------------- -------------- ASSETS: Investments at Value.................................. $ 2,170,063 $ 501,133 $ 690,461 $ 137,567 Temporary Cash Investments at Value & Cost............ 8,996 3,967 5,628 1,733 Receivables: Interest............................................ 28,371 5,251 7,464 1,486 Fund Shares Sold.................................... 1,243 878 568 172 Prepaid Expenses and Other Assets..................... 77 26 7 11 ------------ ------------ ------------ ------------ Total Assets..................................... 2,208,750 511,255 704,128 140,969 ------------ ------------ ------------ ------------ LIABILITIES: Payables: Investment Securities Purchased..................... -- 2,373 -- 515 Fund Shares Redeemed................................ 1,309 50 189 -- Due to Advisor...................................... 374 74 119 22 Accrued Expenses and Other Liabilities................ 152 36 47 8 ------------ ------------ ------------ ------------ Total Liabilities................................ 1,835 2,533 355 545 ------------ ------------ ------------ ------------ NET ASSETS............................................ $ 2,206,915 $ 508,722 $ 703,773 $ 140,424 ============ ============ ============ ============ Institutional Class Shares -- based on net assets of $2,206,915; $508,722; $703,773 and $140,424 and shares outstanding of 215,656,529; 50,377,005; 68,153,163 and 13,406,768, respectively.............. $ 10.23 $ 10.10 $ 10.33 $ 10.47 ============ ============ ============ ============ NUMBER OF SHARES AUTHORIZED........................... 500,000,000 100,000,000 300,000,000 100,000,000 ============ ============ ============ ============ Investments at Cost................................... $ 2,154,665 $ 491,770 $ 685,258 $ 134,394 ============ ============ ============ ============ NET ASSETS CONSIST OF: Paid-In Capital....................................... $ 2,190,072 $ 498,836 $ 698,170 $ 137,062 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)..................... 1,511 612 408 189 Accumulated Net Realized Gain (Loss).................. (66) (89) (8) -- Net Unrealized Appreciation (Depreciation)............ 15,398 9,363 5,203 3,173 ------------ ------------ ------------ ------------ NET ASSETS............................................ $ 2,206,915 $ 508,722 $ 703,773 $ 140,424 ============ ============ ============ ============ See accompanying Notes to Financial Statements. 107 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2014 (Amounts in thousands) DFA Selectively DFA One- DFA Two- Hedged DFA Short- Year Fixed Year Global Global Fixed Term Income Fixed Income Income Government Portfolio Portfolio Portfolio Portfolio ---------- ------------ ------------ ---------- Investment Income Interest................................................ $40,965 $ 40,058 $ 16,440 $17,876 Income from Securities Lending.......................... 122 212 12 -- ------- -------- -------- ------- Total Investment Income.............................. 41,087 40,270 16,452 17,876 ------- -------- -------- ------- Expenses Investment Advisory Services Fees....................... 4,379 2,951 1,516 3,236 Administrative Services Fees............................ 8,759 5,903 -- -- Accounting & Transfer Agent Fees........................ 496 336 61 111 Custodian Fees.......................................... 199 304 26 20 Filing Fees............................................. 258 224 57 89 Shareholders' Reports................................... 207 190 26 54 Directors'/Trustees' Fees & Expenses.................... 62 42 7 13 Professional Fees....................................... 213 135 23 42 Other................................................... 68 47 10 16 ------- -------- -------- ------- Total Expenses....................................... 14,641 10,132 1,726 3,581 ------- -------- -------- ------- Fees Paid Indirectly.................................... -- (33) (10) -- ------- -------- -------- ------- Net Expenses............................................ 14,641 10,099 1,716 3,581 ------- -------- -------- ------- Net Investment Income (Loss)............................ 26,446 30,171 14,736 14,295 ------- -------- -------- ------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold............................ 6,383 (21,361) (3,292) 4,266 Foreign Currency Transactions......................... -- 61,641 (5,463) -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency............ (4,092) (62,877) 1,324 (2,629) Translation of Foreign Currency Denominated Amounts... -- 20,324 (17,037) -- ------- -------- -------- ------- Net Realized and Unrealized Gain (Loss)................. 2,291 (2,273) (24,468) 1,637 ------- -------- -------- ------- Net Increase (Decrease) in Net Assets Resulting from Operations............................................... $28,737 $ 27,898 $ (9,732) $15,932 ======= ======== ======== ======= See accompanying Notes to Financial Statements. 108 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2014 (Amounts in thousands) DFA World ex DFA DFA Short- DFA Five- U.S. Intermediate Term Year Global Government Government Extended Fixed Income Fixed Income Fixed Income Quality Portfolio Portfolio Portfolio Portfolio ------------ ------------ ------------ ---------- Investment Income Interest................................................. $140,510 $ 5,843 $ 87,393 $57,876 Income from Securities Lending........................... 553 -- -- 298 -------- ------- -------- ------- Total Investment Income............................... 141,063 5,843 87,393 58,174 -------- ------- -------- ------- Expenses Investment Advisory Services Fees........................ 21,850 524 3,619 6,957 Accounting & Transfer Agent Fees......................... 494 20 207 199 Custodian Fees........................................... 319 26 37 71 Filing Fees.............................................. 461 37 139 243 Shareholders' Reports.................................... 286 8 115 103 Directors'/Trustees' Fees & Expenses..................... 61 2 25 25 Professional Fees........................................ 192 6 76 72 Other.................................................... 71 5 32 28 -------- ------- -------- ------- Total Expenses........................................ 23,734 628 4,250 7,698 -------- ------- -------- ------- Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor (Note C)............... -- (45) -- (46) Fees Paid Indirectly..................................... (59) (4) -- (34) -------- ------- -------- ------- Net Expenses............................................. 23,675 579 4,250 7,618 -------- ------- -------- ------- Net Investment Income (Loss)............................. 117,388 5,264 83,143 50,556 -------- ------- -------- ------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold............................. 82,588 2,781 19,769 6,710 Foreign Currency Transactions.......................... (24,372) 9,254 -- (630) In-Kind Redemptions.................................... -- -- -- 2,482 Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency............. (21,761) (6,072) 2,836 (8,609) Translation of Foreign Currency Denominated Amounts.... 15,368 12,243 -- (322) -------- ------- -------- ------- Net Realized and Unrealized Gain (Loss).................. 51,823 18,206 22,605 (369) -------- ------- -------- ------- Net Increase (Decrease) in Net Assets Resulting from Operations................................................ $169,211 $23,470 $105,748 $50,187 ======== ======= ======== ======= See accompanying Notes to Financial Statements. 109 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2014 (Amounts in thousands) DFA Intermediate- DFA Term DFA Inflation- DFA Short- Extended Investment Protected Duration Real Quality Grade Securities Return Portfolio Portfolio Portfolio Portfolio (a) ------------- ---------- ---------- ------------- Investment Income Income Distributions Received from Affiliated Investment Companies...................................................... -- $48,229 -- $ 715 Dividends....................................................... -- -- -- -- Interest........................................................ $ 57,135 4 $ 49,562 3,911 Income from Securities Lending.................................. 328 -- -- -- -------- ------- -------- ------- Total Investment Income...................................... 57,463 48,233 49,562 4,626 -------- ------- -------- ------- Expenses Investment Advisory Services Fees............................... 3,505 3,955 2,542 700 Accounting & Transfer Agent Fees................................ 102 51 146 23 Custodian Fees.................................................. 26 1 26 19 Filing Fees..................................................... 122 224 85 89 Shareholders' Reports........................................... 25 69 93 8 Directors'/Trustees' Fees & Expenses............................ 12 14 18 2 Professional Fees............................................... 34 12 52 33 Organizational & Offering Costs................................. -- -- -- 105 Other........................................................... 14 8 23 2 -------- ------- -------- ------- Total Expenses............................................... 3,840 4,334 2,985 981 -------- ------- -------- ------- Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor (Note C)............................. 15 (3,533) -- (258) -------- ------- -------- ------- Net Expenses.................................................... 3,855 801 2,985 723 -------- ------- -------- ------- Net Investment Income (Loss).................................... 53,608 47,432 46,577 3,903 -------- ------- -------- ------- Realized and Unrealized Gain (Loss) Capital Gain Distributions Received from Affiliated Investment Companies...................................................... -- 616 -- 123 Net Realized Gain (Loss) on: Investment Securities Sold.................................... 10,422 (2,517) 13,482 -- Foreign Currency Transactions................................. 153 -- -- 165 Change in Unrealized Appreciation (Depreciation) of: Investment Securities......................................... 38,072 40,528 (29,262) 277 Swap Contracts................................................ -- -- -- (6,284) Translation of Foreign Currency Denominated Amounts........... 8 -- -- 16 -------- ------- -------- ------- Net Realized and Unrealized Gain (Loss)......................... 48,655 38,627 (15,780) (5,703) -------- ------- -------- ------- Net Increase (Decrease) in Net Assets Resulting from Operations....................................................... $102,263 $86,059 $ 30,797 $(1,800) ======== ======= ======== ======= ---------- (a)The Portfolio commenced operations on November 5, 2013. See accompanying Notes to Financial Statements. 110 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2014 (Amounts in thousands) DFA DFA DFA California DFA Short- Intermediate- California Intermediate- Term Term Short-Term Term Municipal Municipal Municipal Municipal Bond Bond Bond Bond Portfolio Portfolio Portfolio Portfolio ---------- ------------- ---------- ------------- Investment Income Interest................................................. $22,031 $ 7,379 $6,410 $2,329 ------- ------- ------ ------ Total Investment Income............................... 22,031 7,379 6,410 2,329 ------- ------- ------ ------ Expenses Investment Advisory Services Fees........................ 4,001 770 1,225 236 Accounting & Transfer Agent Fees......................... 116 25 38 10 Custodian Fees........................................... 22 5 9 3 Filing Fees.............................................. 163 101 42 23 Shareholders' Reports.................................... 43 8 10 2 Directors'/Trustees' Fees & Expenses..................... 14 3 4 1 Professional Fees........................................ 42 8 13 3 Other.................................................... 16 4 5 2 ------- ------- ------ ------ Total Expenses........................................ 4,417 924 1,346 280 ------- ------- ------ ------ Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor (Note C)............... -- (38) -- (8) ------- ------- ------ ------ Net Expenses............................................. 4,417 886 1,346 272 ------- ------- ------ ------ Net Investment Income (Loss)............................. 17,614 6,493 5,064 2,057 ------- ------- ------ ------ Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold............................. -- (77) -- 112 Change in Unrealized Appreciation (Depreciation) of: Investment Securities.................................. 719 10,784 1,270 3,502 ------- ------- ------ ------ Net Realized and Unrealized Gain (Loss).................. 719 10,707 1,270 3,614 ------- ------- ------ ------ Net Increase (Decrease) in Net Assets Resulting from Operations................................................ $18,333 $17,200 $6,334 $5,671 ======= ======= ====== ====== See accompanying Notes to Financial Statements. 111 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, 2014 2013 2014 2013 2014 2013 ----------- ----------- ----------- ----------- ---------- --------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)....... $ 26,446 $ 29,962 $ 30,171 $ 26,491 $ 14,736 $ 15,063 Net Realized Gain (Loss) on: Investment Securities Sold........ 6,383 7,207 (21,361) 85,746 (3,292) (1,684) Foreign Currency Transactions..................... -- -- 61,641 (84,623) (5,463) (3,286) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency................. (4,092) (5,937) (62,877) (13,289) 1,324 (8,484) Translation of Foreign Currency Denominated Amounts.............. -- -- 20,324 9,862 (17,037) 2,566 ----------- ----------- ----------- ----------- ---------- --------- Net Increase (Decrease) in Net Assets Resulting from Operations...................... 28,737 31,232 27,898 24,187 (9,732) 4,175 ----------- ----------- ----------- ----------- ---------- --------- Distributions From: Net Investment Income: Institutional Class Shares........ (26,424) (31,268) (45,651) (45,496) (11,485) (20,638) Net Short-Term Gains: Institutional Class Shares........ (2,481) (9,466) (3,882) (9,165) (1,424) (583) Net Long-Term Gains: Institutional Class Shares........ (4,135) (7,281) (2,218) (1,375) (95) -- ----------- ----------- ----------- ----------- ---------- --------- Total Distributions.............. (33,040) (48,015) (51,751) (56,036) (13,004) (21,221) ----------- ----------- ----------- ----------- ---------- --------- Capital Share Transactions (1): Shares Issued...................... 4,653,177 4,613,151 1,878,664 2,087,897 364,134 331,473 Shares Issued in Lieu of Cash Distributions..................... 30,871 45,136 47,940 52,403 12,836 19,987 Shares Redeemed.................... (4,313,897) (3,646,057) (1,265,997) (1,227,346) (239,874) (212,530) ----------- ----------- ----------- ----------- ---------- --------- Net Increase (Decrease) from Capital Share Transactions.................... 370,151 1,012,230 660,607 912,954 137,096 138,930 ----------- ----------- ----------- ----------- ---------- --------- Total Increase (Decrease) in Net Assets...................... 365,848 995,447 636,754 881,105 114,360 121,884 Net Assets Beginning of Year.................. 8,089,711 7,094,264 5,552,198 4,671,093 985,287 863,403 ----------- ----------- ----------- ----------- ---------- --------- End of Year........................ $ 8,455,559 $ 8,089,711 $ 6,188,952 $ 5,552,198 $1,099,647 $ 985,287 =========== =========== =========== =========== ========== ========= (1) Shares Issued and Redeemed: Shares Issued...................... 450,767 446,607 187,612 207,694 35,937 32,512 Shares Issued in Lieu of Cash Distributions..................... 2,991 4,372 4,791 5,219 1,282 1,950 Shares Redeemed.................... (417,906) (353,107) (126,406) (122,010) (23,759) (20,912) ----------- ----------- ----------- ----------- ---------- --------- Net Increase (Decrease) from Shares Issued and Redeemed........................ 35,852 97,872 65,997 90,903 13,460 13,550 =========== =========== =========== =========== ========== ========= Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)........... $ 1,444 $ 1,422 $ 44,993 $ 27,488 $ 14,426 $ 9,492 DFA Short-Term Government Portfolio ---------------------- Year Year Ended Ended Oct. 31, Oct. 31, 2014 2013 ---------- ---------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)....... $ 14,295 $ 12,964 Net Realized Gain (Loss) on: Investment Securities Sold........ 4,266 3,808 Foreign Currency Transactions..................... -- -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency................. (2,629) (15,692) Translation of Foreign Currency Denominated Amounts.............. -- -- ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations...................... 15,932 1,080 ---------- ---------- Distributions From: Net Investment Income: Institutional Class Shares........ (13,333) (13,092) Net Short-Term Gains: Institutional Class Shares........ (510) (438) Net Long-Term Gains: Institutional Class Shares........ (3,400) (13,008) ---------- ---------- Total Distributions.............. (17,243) (26,538) ---------- ---------- Capital Share Transactions (1): Shares Issued...................... 603,503 581,715 Shares Issued in Lieu of Cash Distributions..................... 16,005 24,196 Shares Redeemed.................... (337,063) (385,547) ---------- ---------- Net Increase (Decrease) from Capital Share Transactions.................... 282,445 220,364 ---------- ---------- Total Increase (Decrease) in Net Assets...................... 281,134 194,906 Net Assets Beginning of Year.................. 1,780,576 1,585,670 ---------- ---------- End of Year........................ $2,061,710 $1,780,576 ========== ========== (1) Shares Issued and Redeemed: Shares Issued...................... 56,537 54,179 Shares Issued in Lieu of Cash Distributions..................... 1,502 2,252 Shares Redeemed.................... (31,589) (35,890) ---------- ---------- Net Increase (Decrease) from Shares Issued and Redeemed........................ 26,450 20,541 ========== ========== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)........... $ 2,892 $ 1,930 See accompanying Notes to Financial Statements. 112 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 ------------------------ ---------------------- ---------------------- Year Year Year Year Year Year Ended Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2014 2013 2014 2013 ----------- ----------- -------- -------- ---------- ---------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss).......... $ 117,388 $ 74,439 $ 5,264 $ 2,926 $ 83,143 $ 83,312 Net Realized Gain (Loss) on: Investment Securities Sold........... 82,588 174,388 2,781 291 19,769 (235) Foreign Currency Transactions........ (24,372) (88,319) 9,254 1,424 -- -- In-Kind Redemptions.................. -- -- -- -- -- -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency............................ (21,761) (133,678) (6,072) (3,992) 2,836 (159,790) Translation of Foreign Currency Denominated Amounts................. 15,368 21,190 12,243 (441) -- -- ----------- ----------- -------- -------- ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations......................... 169,211 48,020 23,470 208 105,748 (76,713) ----------- ----------- -------- -------- ---------- ---------- Distributions From: Net Investment Income: Institutional Class Shares........... (99,253) (62,976) (7,558) (2,781) (82,370) (82,551) Net Short-Term Gains: Institutional Class Shares........... (12,856) (17,590) (73) (1,462) -- -- Net Long-Term Gains: Institutional Class Shares........... (97,134) (42,555) -- -- -- (5,467) ----------- ----------- -------- -------- ---------- ---------- Total Distributions................. (209,243) (123,121) (7,631) (4,243) (82,370) (88,018) ----------- ----------- -------- -------- ---------- ---------- Capital Share Transactions (1): Shares Issued......................... 3,169,055 2,830,554 157,417 125,701 1,218,308 1,287,392 Shares Issued in Lieu of Cash Distributions........................ 197,115 113,315 7,599 4,201 77,669 83,643 Shares Redeemed....................... (1,359,583) (1,358,544) (66,347) (26,371) (963,577) (599,390) ----------- ----------- -------- -------- ---------- ---------- Net Increase (Decrease) from Capital Share Transactions......... 2,006,587 1,585,325 98,669 103,531 332,400 771,645 ----------- ----------- -------- -------- ---------- ---------- Total Increase (Decrease) in Net Assets............................. 1,966,555 1,510,224 114,508 99,496 355,778 606,914 Net Assets Beginning of Period................... 7,851,561 6,341,337 240,733 141,237 3,665,838 3,058,924 ----------- ----------- -------- -------- ---------- ---------- End of Period......................... $ 9,818,116 $ 7,851,561 $355,241 $240,733 $4,021,616 $3,665,838 =========== =========== ======== ======== ========== ========== (1) Shares Issued and Redeemed: Shares Issued......................... 288,619 254,486 15,130 12,118 97,497 100,692 Shares Issued in Lieu of Cash Distributions........................ 18,054 10,173 747 404 6,252 6,574 Shares Redeemed....................... (123,692) (122,270) (6,376) (2,551) (77,240) (47,391) ----------- ----------- -------- -------- ---------- ---------- Net Increase (Decrease) from Shares Issued and Redeemed........................... 182,981 142,389 9,501 9,971 26,509 59,875 =========== =========== ======== ======== ========== ========== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)..................... $ 95,694 $ 37,452 $ 12,652 $ 4,696 $ 14,503 $ 13,730 DFA Short-Term Extended Quality Portfolio ---------------------- Year Year Ended Ended Oct. 31, Oct. 31, 2014 2013 ---------- ---------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss).......... $ 50,556 $ 35,954 Net Realized Gain (Loss) on: Investment Securities Sold........... 6,710 6,708 Foreign Currency Transactions........ (630) (6,214) In-Kind Redemptions.................. 2,482 -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency............................ (8,609) (21,792) Translation of Foreign Currency Denominated Amounts................. (322) 3,192 ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations......................... 50,187 17,848 ---------- ---------- Distributions From: Net Investment Income: Institutional Class Shares........... (43,282) (37,553) Net Short-Term Gains: Institutional Class Shares........... (608) -- Net Long-Term Gains: Institutional Class Shares........... (4,861) (4,387) ---------- ---------- Total Distributions................. (48,751) (41,940) ---------- ---------- Capital Share Transactions (1): Shares Issued......................... 2,125,792 1,231,684 Shares Issued in Lieu of Cash Distributions........................ 48,158 41,038 Shares Redeemed....................... (984,576) (591,648) ---------- ---------- Net Increase (Decrease) from Capital Share Transactions......... 1,189,374 681,074 ---------- ---------- Total Increase (Decrease) in Net Assets............................. 1,190,810 656,982 Net Assets Beginning of Period................... 2,632,084 1,975,102 ---------- ---------- End of Period......................... $3,822,894 $2,632,084 ========== ========== (1) Shares Issued and Redeemed: Shares Issued......................... 196,050 113,382 Shares Issued in Lieu of Cash Distributions........................ 4,443 3,773 Shares Redeemed....................... (90,814) (54,562) ---------- ---------- Net Increase (Decrease) from Shares Issued and Redeemed........................... 109,679 62,593 ========== ========== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)..................... $ 11,175 $ 609 See accompanying Notes to Financial Statements. 113 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (Amounts in thousands) DFA Intermediate-Term DFA Investment Grade Extended Quality Portfolio Portfolio ------------------------- ---------------------- Year Year Year Year Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2014 2013 ---------- ---------- ---------- ---------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)......................... $ 53,608 $ 31,127 $ 47,432 $ 25,637 Capital Gain Distributions Received from Affiliated Investment Companies................................ -- -- 616 1,855 Net Realized Gain (Loss) on: Investment Securities Sold.......................... 10,422 84 (2,517) (1,671) Foreign Currency Transactions....................... 153 (1,239) -- -- Change in Unrealized Appreciation (Depreciation) of: Affiliated Investment Companies Shares.............. 38,072 (56,416) 40,528 (43,409) Swap Contracts...................................... -- -- -- -- Translation of Foreign Currency Denominated Amounts................................ 8 603 -- -- ---------- ---------- ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations......................... 102,263 (25,841) 86,059 (17,588) ---------- ---------- ---------- ---------- Distributions From: Net Investment Income: Institutional Class Shares.......................... (50,273) (30,139) (46,763) (24,183) Net Short-Term Gains: Institutional Class Shares.......................... -- -- -- (22) Net Long-Term Gains: Institutional Class Shares.......................... (441) (565) (330) (867) ---------- ---------- ---------- ---------- Total Distributions................................ (50,714) (30,704) (47,093) (25,072) ---------- ---------- ---------- ---------- Capital Share Transactions (1): Shares Issued........................................ 896,006 780,881 1,312,426 859,582 Shares Issued in Lieu of Cash Distributions.......... 50,309 30,374 46,963 24,433 Shares Redeemed...................................... (255,364) (191,586) (407,567) (298,249) ---------- ---------- ---------- ---------- Net Increase (Decrease) from Capital Share Transactions...................................... 690,951 619,669 951,822 585,766 ---------- ---------- ---------- ---------- Total Increase (Decrease) in Net Assets............ 742,500 563,124 990,788 543,106 Net Assets Beginning of Year.................................... 1,391,394 828,270 1,442,269 899,163 ---------- ---------- ---------- ---------- End of Year.......................................... $2,133,894 $1,391,394 $2,433,057 $1,442,269 ========== ========== ========== ========== (1) Shares Issued and Redeemed: Shares Issued........................................ 84,505 73,136 123,709 80,350 Shares Issued in Lieu of Cash Distributions.......... 4,739 2,837 4,448 2,298 Shares Redeemed...................................... (24,183) (18,069) (38,488) (27,973) ---------- ---------- ---------- ---------- Net Increase (Decrease) from Shares Issued and Redeemed...................................... 65,061 57,904 89,669 54,675 ========== ========== ========== ========== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)............................................... $ 7,030 $ 2,622 $ 2,881 $ 2,170 DFA Short- Duration Real DFA Inflation-Protected Return Securities Portfolio Portfolio ---------------------- --------- Period Nov. 5, Year Year 2013 (a) Ended Ended to Oct. 31, Oct. 31, Oct. 31, 2014 2013 2014 ---------- ---------- --------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)......................... $ 46,577 $ 44,223 $ 3,903 Capital Gain Distributions Received from Affiliated Investment Companies................................ -- -- 123 Net Realized Gain (Loss) on: Investment Securities Sold.......................... 13,482 (4,633) -- Foreign Currency Transactions....................... -- -- 165 Change in Unrealized Appreciation (Depreciation) of: Affiliated Investment Companies Shares.............. (29,262) (225,943) 277 Swap Contracts...................................... -- -- (6,284) Translation of Foreign Currency Denominated Amounts................................ -- -- 16 ---------- ---------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations......................... 30,797 (186,353) (1,800) ---------- ---------- -------- Distributions From: Net Investment Income: Institutional Class Shares.......................... (54,929) (50,644) (176) Net Short-Term Gains: Institutional Class Shares.......................... -- (789) -- Net Long-Term Gains: Institutional Class Shares.......................... -- (13,997) -- ---------- ---------- -------- Total Distributions................................ (54,929) (65,430) (176) ---------- ---------- -------- Capital Share Transactions (1): Shares Issued........................................ 912,129 1,173,461 665,036 Shares Issued in Lieu of Cash Distributions.......... 51,080 61,493 175 Shares Redeemed...................................... (809,702) (901,651) (31,158) ---------- ---------- -------- Net Increase (Decrease) from Capital Share Transactions...................................... 153,507 333,303 634,053 ---------- ---------- -------- Total Increase (Decrease) in Net Assets............ 129,375 81,520 632,077 Net Assets Beginning of Year.................................... 2,592,771 2,511,251 -- ---------- ---------- -------- End of Year.......................................... $2,722,146 $2,592,771 $632,077 ========== ========== ======== (1) Shares Issued and Redeemed: Shares Issued........................................ 77,262 95,165 66,307 Shares Issued in Lieu of Cash Distributions.......... 4,328 4,946 18 Shares Redeemed...................................... (68,852) (74,201) (3,097) ---------- ---------- -------- Net Increase (Decrease) from Shares Issued and Redeemed...................................... 12,738 25,910 63,228 ========== ========== ======== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)............................................... $ (238) $ 4,136 $ 4,114 ---------- Seepage 1 & 2 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 114 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (Amounts in thousands) DFA Short-Term Municipal DFA Intermediate-Term DFA California Short-Term Bond Portfolio Municipal Bond Portfolio Municipal Bond 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, 2014 2013 2014 2013 2014 2013 ---------- ---------- -------- -------- --------- --------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)...... $ 17,614 $ 16,029 $ 6,493 $ 2,189 $ 5,064 $ 4,329 Net Realized Gain (Loss) on: Investment Securities Sold....... -- (2) (77) (10) -- (4) Change in Unrealized Appreciation (Depreciation) of: Investment Securities............ 719 (8,310) 10,784 (2,094) 1,270 (1,033) ---------- ---------- -------- -------- --------- --------- Net Increase (Decrease) in Net Assets Resulting from Operations..................... 18,333 7,717 17,200 85 6,334 3,292 ---------- ---------- -------- -------- --------- --------- Distributions From: Net Investment Income: Institutional Class Shares....... (17,269) (16,375) (6,232) (1,943) (5,014) (4,312) ---------- ---------- -------- -------- --------- --------- Total Distributions............. (17,269) (16,375) (6,232) (1,943) (5,014) (4,312) ---------- ---------- -------- -------- --------- --------- Capital Share Transactions (1): Shares Issued..................... 819,358 696,633 319,718 225,138 284,884 239,116 Shares Issued in Lieu of Cash Distributions.................... 17,162 15,678 6,197 1,866 4,960 4,217 Shares Redeemed................... (411,368) (505,250) (97,675) (45,131) (108,481) (116,364) ---------- ---------- -------- -------- --------- --------- Net Increase (Decrease) from Capital Share Transactions................... 425,152 207,061 228,240 181,873 181,363 126,969 ---------- ---------- -------- -------- --------- --------- Total Increase (Decrease) in Net Assets..................... 426,216 198,403 239,208 180,015 182,683 125,949 Net Assets Beginning of Period............... 1,780,699 1,582,296 269,514 89,499 521,090 395,141 ---------- ---------- -------- -------- --------- --------- End of Period..................... $2,206,915 $1,780,699 $508,722 $269,514 $ 703,773 $ 521,090 ========== ========== ======== ======== ========= ========= (1) Shares Issued and Redeemed: Shares Issued..................... 80,151 68,051 32,239 22,910 27,631 23,229 Shares Issued in Lieu of Cash Distributions.................... 1,679 1,531 624 189 481 410 Shares Redeemed................... (40,235) (49,325) (9,870) (4,616) (10,523) (11,295) ---------- ---------- -------- -------- --------- --------- Net Increase (Decrease) from Shares Issued and Redeemed....................... 41,595 20,257 22,993 18,483 17,589 12,344 ========== ========== ======== ======== ========= ========= Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)............................ $ 1,511 $ 1,166 $ 612 $ 351 $ 408 $ 358 DFA California Intermediate-Term Municipal Bond Portfolio ----------------------- Year Year Ended Ended Oct. 31, Oct. 31, 2014 2013 -------- -------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)...... $ 2,057 $ 1,300 Net Realized Gain (Loss) on: Investment Securities Sold....... 112 (112) Change in Unrealized Appreciation (Depreciation) of: Investment Securities............ 3,502 (1,195) -------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations..................... 5,671 (7) -------- -------- Distributions From: Net Investment Income: Institutional Class Shares....... (1,997) (1,248) -------- -------- Total Distributions............. (1,997) (1,248) -------- -------- Capital Share Transactions (1): Shares Issued..................... 48,919 56,106 Shares Issued in Lieu of Cash Distributions.................... 1,997 1,215 Shares Redeemed................... (11,365) (17,519) -------- -------- Net Increase (Decrease) from Capital Share Transactions................... 39,551 39,802 -------- -------- Total Increase (Decrease) in Net Assets..................... 43,225 38,547 Net Assets Beginning of Period............... 97,199 58,652 -------- -------- End of Period..................... $140,424 $ 97,199 ======== ======== (1) Shares Issued and Redeemed: Shares Issued..................... 4,755 5,474 Shares Issued in Lieu of Cash Distributions.................... 194 119 Shares Redeemed................... (1,108) (1,720) -------- -------- Net Increase (Decrease) from Shares Issued and Redeemed....................... 3,841 3,873 ======== ======== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)............................ $ 189 $ 129 See accompanying Notes to Financial Statements. 115 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, 2014 2013 2012 2011 2010 -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 10.33 $ 10.35 $ 10.35 $ 10.38 $ 10.33 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.03 0.04 0.05 0.06 0.07 Net Gains (Losses) on Securities (Realized and Unrealized). -- -- 0.03 -- 0.05 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations.......................... 0.03 0.04 0.08 0.06 0.12 -------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.03) (0.04) (0.05) (0.06) (0.07) Net Realized Gains......................................... (0.01) (0.02) (0.03) (0.03) -- ---------- ---------- ---------- ---------- ---------- Total Distributions....................................... (0.04) (0.06) (0.08) (0.09) (0.07) -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 10.32 $ 10.33 $ 10.35 $ 10.35 $ 10.38 ============================================================= ========== ========== ========== ========== ========== Total Return................................................. 0.28% 0.43% 0.79% 0.57% 1.19% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $8,455,559 $8,089,711 $7,094,264 $6,905,468 $5,754,601 Ratio of Expenses to Average Net Assets...................... 0.17% 0.17% 0.17% 0.17% 0.17% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)................................................. 0.17% 0.17% 0.17% 0.17% 0.17% Ratio of Net Investment Income to Average Net Assets......... 0.30% 0.38% 0.52% 0.55% 0.67% Portfolio Turnover Rate...................................... 72% 62% 77% 78% 66% -------------------------------------------------------------------------------------------------------------------------- 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, 2014 2013 2012 2011 2010 ------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 10.06 $ 10.13 $ 10.23 $ 10.24 $ 10.27 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.05 0.05 0.07 0.10 0.12 Net Gains (Losses) on Securities (Realized and Unrealized). -- -- 0.02 (0.01) 0.07 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations.......................... 0.05 0.05 0.09 0.09 0.19 ------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.08) (0.10) (0.16) (0.03) (0.21) Net Realized Gains......................................... (0.01) (0.02) (0.03) (0.07) (0.01) ---------- ---------- ---------- ---------- ---------- Total Distributions....................................... (0.09) (0.12) (0.19) (0.10) (0.22) ------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 10.02 $ 10.06 $ 10.13 $ 10.23 $ 10.24 ============================================================= ========== ========== ========== ========== ========== Total Return................................................. 0.51% 0.51% 0.85% 0.83% 1.83% ------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $6,188,952 $5,552,198 $4,671,093 $4,813,711 $4,053,423 Ratio of Expenses to Average Net Assets...................... 0.17% 0.18% 0.18% 0.18% 0.18% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)................................................. 0.17% 0.18% 0.18% 0.18% 0.18% Ratio of Net Investment Income to Average Net Assets......... 0.51% 0.54% 0.68% 0.94% 1.13% Portfolio Turnover Rate...................................... 99% 123% 107% 71% 109% ------------------------------------------------------------------------------------------------------------------------- See page 1 & 2 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 116 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, 2014 2013 2012 2011 2010 2014 ------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 10.21 $ 10.41 $ 10.65 $ 10.40 $ 10.00 $ 10.70 ---------- -------- -------- -------- -------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.15 0.17 0.17 0.20 0.19 0.08 Net Gains (Losses) on Securities (Realized and Unrealized). (0.22) (0.11) (0.06) 0.19 0.22 -- ---------- -------- -------- -------- -------- ---------- Total from Investment Operations.......................... (0.07) 0.06 0.11 0.39 0.41 0.08 ------------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.12) (0.25) (0.34) (0.11) -- (0.07) Net Realized Gains......................................... (0.02) (0.01) (0.01) (0.03) (0.01) (0.02) ---------- -------- -------- -------- -------- ---------- Total Distributions....................................... (0.14) (0.26) (0.35) (0.14) (0.01) (0.09) ------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 10.00 $ 10.21 $ 10.41 $ 10.65 $ 10.40 $ 10.69 ============================================================= ========== ======== ======== ======== ======== ========== Total Return................................................. (0.72)% 0.52% 1.22% 3.85% 4.08% 0.83% ------------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $1,099,647 $985,287 $863,403 $786,917 $524,375 $2,061,710 Ratio of Expenses to Average Net Assets...................... 0.17% 0.18% 0.19% 0.19% 0.20% 0.19% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)................................................. 0.17% 0.18% 0.19% 0.19% 0.20% 0.19% Ratio of Net Investment Income to Average Net Assets......... 1.46% 1.62% 1.65% 1.89% 1.84% 0.75% Portfolio Turnover Rate...................................... 48% 99% 109% 51% 78% 40% ------------------------------------------------------------------------------------------------------------------------------- DFA Short-Term Government 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........................... $ 10.88 $ 10.99 $ 11.15 $ 10.92 ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.08 0.11 0.18 0.25 Net Gains (Losses) on Securities (Realized and Unrealized). (0.08) 0.09 0.01 0.32 ---------- ---------- ---------- ---------- Total from Investment Operations.......................... -- 0.20 0.19 0.57 -------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.09) (0.11) (0.20) (0.26) Net Realized Gains......................................... (0.09) (0.20) (0.15) (0.08) ---------- ---------- ---------- ---------- Total Distributions....................................... (0.18) (0.31) (0.35) (0.34) -------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 10.70 $ 10.88 $ 10.99 $ 11.15 ============================================================= ========== ========== ========== ========== Total Return................................................. (0.03)% 1.89% 1.77% 5.32% -------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $1,780,576 $1,585,670 $1,343,989 $1,110,308 Ratio of Expenses to Average Net Assets...................... 0.19% 0.20% 0.21% 0.23% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)................................................. 0.19% 0.20% 0.21% 0.23% Ratio of Net Investment Income to Average Net Assets......... 0.78% 0.98% 1.65% 2.29% Portfolio Turnover Rate...................................... 37% 41% 64% 64% -------------------------------------------------------------------------------------------------------------- See page 1 & 2 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 117 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, 2014 2013 2012 2011 2010 ------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................ $ 11.14 $ 11.28 $ 11.32 $ 11.70 $ 11.27 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.15 0.12 0.18 0.23 0.29 Net Gains (Losses) on Securities (Realized and Unrealized). 0.05 (0.05) 0.22 0.06 0.54 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations......................... 0.20 0.07 0.40 0.29 0.83 ------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.13) (0.10) (0.23) (0.44) (0.40) Net Realized Gains......................................... (0.15) (0.11) (0.21) (0.23) -- ---------- ---------- ---------- ---------- ---------- Total Distributions...................................... (0.28) (0.21) (0.44) (0.67) (0.40) ------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period.............................. $ 11.06 $ 11.14 $ 11.28 $ 11.32 $ 11.70 =========================================================== ========== ========== ========== ========== ========== Total Return................................................ 1.90% 0.63% 3.74% 2.74% 7.51% ------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)....................... $9,818,116 $7,851,561 $6,341,337 $5,184,700 $4,395,516 Ratio of Expenses to Average Net Assets..................... 0.27% 0.28% 0.28% 0.28% 0.28% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)........ 0.27% 0.28% 0.28% 0.28% 0.28% Ratio of Net Investment Income to Average Net Assets........ 1.34% 1.05% 1.64% 2.10% 2.56% Portfolio Turnover Rate..................................... 62% 72% 58% 67% 73% ------------------------------------------------------------------------------------------------------------------------- DFA World ex U.S. Government Fixed Income Portfolio ----------------------------- Period Year Year Dec. 6, Ended Ended 2011 (a) to Oct. 31, Oct. 31, Oct. 31, 2014 2013 2012 ------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................ $ 10.31 $ 10.56 $ 10.00 -------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.19 0.16 0.18 Net Gains (Losses) on Securities (Realized and Unrealized). 0.60 (0.14) 0.48 -------- -------- -------- Total from Investment Operations......................... 0.79 0.02 0.66 ------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.29) (0.17) (0.10) Net Realized Gains......................................... -- (0.10) -- -------- -------- -------- Total Distributions...................................... (0.29) (0.27) (0.10) ------------------------------------------------------------------------------------------------- Net Asset Value, End of Period.............................. $ 10.81 $ 10.31 $ 10.56 =========================================================== ======== ======== =========== Total Return................................................ 7.93% 0.23% 6.66%(D) ------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)....................... $355,241 $240,733 $141,237 Ratio of Expenses to Average Net Assets..................... 0.20% 0.20% 0.20%(C)(E) Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)........ 0.22% 0.23% 0.37%(C)(E) Ratio of Net Investment Income to Average Net Assets........ 1.81% 1.53% 1.83%(C)(E) Portfolio Turnover Rate..................................... 41% 44% 82%(D) ------------------------------------------------------------------------------------------------- See page 1 & 2 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 118 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, 2014 2013 2012 2011 2010 -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................ $ 12.52 $ 13.13 $ 12.90 $ 12.84 $ 12.31 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.29 0.31 0.37 0.44 0.49 Net Gains (Losses) on Securities (Realized and Unrealized). 0.08 (0.58) 0.32 0.10 0.57 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations......................... 0.37 (0.27) 0.69 0.54 1.06 -------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.29) (0.32) (0.37) (0.44) (0.48) Net Realized Gains......................................... -- (0.02) (0.09) (0.04) (0.05) ---------- ---------- ---------- ---------- ---------- Total Distributions...................................... (0.29) (0.34) (0.46) (0.48) (0.53) -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period.............................. $ 12.60 $ 12.52 $ 13.13 $ 12.90 $ 12.84 =========================================================== ========== ========== ========== ========== ========== Total Return................................................ 3.00% (2.09)% 5.49% 4.42% 8.85% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)....................... $4,021,616 $3,665,838 $3,058,924 $2,377,280 $1,869,828 Ratio of Expenses to Average Net Assets..................... 0.12% 0.12% 0.13% 0.12% 0.13% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)........ 0.12% 0.12% 0.13% 0.12% 0.13% Ratio of Net Investment Income to Average Net Assets........ 2.30% 2.45% 2.85% 3.50% 3.91% Portfolio Turnover Rate..................................... 29% 6% 4% 16% 7% -------------------------------------------------------------------------------------------------------------------------- DFA Short-Term Extended Quality Portfolio -------------------------------------------------------- Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2012 2011 2010 ---------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................ $ 10.86 $ 10.98 $ 10.86 $ 10.93 $ 10.56 ---------- ---------- ---------- ---------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.16 0.17 0.21 0.25 0.33 Net Gains (Losses) on Securities (Realized and Unrealized). -- (0.09) 0.13 (0.05) 0.37 ---------- ---------- ---------- ---------- -------- Total from Investment Operations......................... 0.16 0.08 0.34 0.20 0.70 ---------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.14) (0.18) (0.20) (0.25) (0.32) Net Realized Gains......................................... (0.02) (0.02) (0.02) (0.02) (0.01) ---------- ---------- ---------- ---------- -------- Total Distributions...................................... (0.16) (0.20) (0.22) (0.27) (0.33) ---------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period.............................. $ 10.86 $ 10.86 $ 10.98 $ 10.86 $ 10.93 =========================================================== ========== ========== ========== ========== ======== Total Return................................................ 1.44% 0.79% 3.22% 1.91% 6.73% ---------------------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)....................... $3,822,894 $2,632,084 $1,975,102 $1,333,202 $754,269 Ratio of Expenses to Average Net Assets..................... 0.22% 0.22% 0.22% 0.22% 0.22% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)........ 0.22% 0.23% 0.23% 0.23% 0.24% Ratio of Net Investment Income to Average Net Assets........ 1.45% 1.57% 1.96% 2.32% 3.04% Portfolio Turnover Rate..................................... 23% 19% 21% 17% 14% ---------------------------------------------------------------------------------------------------------------------- See page 1 & 2 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 119 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (for a share outstanding throughout each period) DFA Intermediate-Term Extended Quality Portfolio ------------------------------------------------------ Period Year Year Year Year July 20, Ended Ended Ended Ended 2010 (a) to Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2012 2011 2010 --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................ $ 10.50 $ 11.10 $ 10.46 $ 10.28 $ 10.00 ---------- ---------- -------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.33 0.31 0.33 0.33 0.08 Net Gains (Losses) on Securities (Realized and Unrealized). 0.28 (0.59) 0.61 0.16 0.24 ---------- ---------- -------- -------- -------- Total from Investment Operations......................... 0.61 (0.28) 0.94 0.49 0.32 --------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.31) (0.31) (0.30) (0.31) (0.04) Net Realized Gains......................................... -- (0.01) -- -- -- ---------- ---------- -------- -------- -------- Total Distributions...................................... (0.31) (0.32) (0.30) (0.31) (0.04) --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period.............................. $ 10.80 $ 10.50 $ 11.10 $ 10.46 $ 10.28 =========================================================== ========== ========== ======== ======== =========== Total Return................................................ 5.91% (2.62)% 9.19% 4.94% 3.15%(D) --------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)....................... $2,133,894 $1,391,394 $828,270 $307,580 $144,093 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 Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)........ 0.22% 0.23% 0.24% 0.27% 0.35%(C)(E) Ratio of Net Investment Income to Average Net Assets........ 3.06% 2.88% 3.04% 3.27% 2.77%(C)(E) Portfolio Turnover Rate..................................... 23% 10% 8% 15% 1%(D) --------------------------------------------------------------------------------------------------------------------------- DFA Investment Grade Portfolio ---------------------------------------------------- Period Year Year Year March 7, Ended Ended Ended 2011 (a) to Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2012 2011 --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................ $ 10.57 $ 10.99 $ 10.60 $ 10.00 ---------- ---------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.26 0.25 0.25 0.19 Net Gains (Losses) on Securities (Realized and Unrealized). 0.18 (0.42) 0.40 0.54 ---------- ---------- -------- -------- Total from Investment Operations......................... 0.44 (0.17) 0.65 0.73 --------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.25) (0.24) (0.26) (0.13) Net Realized Gains......................................... -- (0.01) -- -- ---------- ---------- -------- -------- Total Distributions...................................... (0.25) (0.25) (0.26) (0.13) --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period.............................. $ 10.76 $ 10.57 $ 10.99 $ 10.60 =========================================================== ========== ========== ======== =========== Total Return................................................ 4.29% (1.58)% 6.21% 7.35%(D) --------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)....................... $2,433,057 $1,442,269 $899,163 $199,654 Ratio of Expenses to Average Net Assets..................... 0.22%(B) 0.22%(B) 0.22%(B) 0.22%(B)(C)(E) Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)........ 0.40%(B) 0.41%(B) 0.41%(B) 0.50%(B)(C)(E) Ratio of Net Investment Income to Average Net Assets........ 2.40%(B) 2.30%(B) 2.32%(B) 2.68%(C)(E) Portfolio Turnover Rate..................................... N/A N/A N/A N/A --------------------------------------------------------------------------------------------------------------------------- See page 1 & 2 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 120 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, 2014 2013 2012 2011 2010 -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................ $ 11.84 $ 13.00 $ 12.35 $ 11.85 $ 10.95 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.22 0.21 0.27 0.55 0.29 Net Gains (Losses) on Securities (Realized and Unrealized). (0.06) (1.05) 0.79 0.52 0.92 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations......................... 0.16 (0.84) 1.06 1.07 1.21 -------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.25) (0.24) (0.27) (0.51) (0.31) Net Realized Gains......................................... -- (0.08) (0.14) (0.06) -- ---------- ---------- ---------- ---------- ---------- Total Distributions...................................... (0.25) (0.32) (0.41) (0.57) (0.31) -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period.............................. $ 11.75 $ 11.84 $ 13.00 $ 12.35 $ 11.85 =========================================================== ========== ========== ========== ========== ========== Total Return................................................ 1.38% (6.59)% 8.70% 9.38% 11.29% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)....................... $2,722,146 $2,592,771 $2,511,251 $1,888,045 $1,396,779 Ratio of Expenses to Average Net Assets..................... 0.12% 0.12% 0.13% 0.13% 0.13% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor)................................. 0.12% 0.12% 0.13% 0.13% 0.13% Ratio of Net Investment Income to Average Net Assets........ 1.83% 1.68% 2.12% 4.64% 2.57% Portfolio Turnover Rate..................................... 25% 26% 9% 18% 12% -------------------------------------------------------------------------------------------------------------------------- DFA Short- Duration Real Return Portfolio ----------- Period Nov. 5, 2013 (a) to Oct. 31, 2014 -------------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................ $ 10.00 -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.11 Net Gains (Losses) on Securities (Realized and Unrealized). (0.09) -------- Total from Investment Operations......................... 0.02 -------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.02) Net Realized Gains......................................... -- -------- Total Distributions...................................... (0.02) -------------------------------------------------------------------------------- Net Asset Value, End of Period.............................. $ 10.00 =========================================================== =========== Total Return................................................ 0.20%(D) -------------------------------------------------------------------------------- Net Assets, End of Period (thousands)....................... $632,077 Ratio of Expenses to Average Net Assets..................... 0.24%(B)(C)(E) Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor)................................. 0.31%(B)(C)(E) Ratio of Net Investment Income to Average Net Assets........ 1.12%(B)(C)(E) Portfolio Turnover Rate..................................... 138%(D) -------------------------------------------------------------------------------- See page 1 & 2 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 121 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (for a share outstanding throughout each period) 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, 2014 2013 2012 2011 2010 ------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................ $ 10.23 $ 10.29 $ 10.30 $ 10.34 $ 10.24 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.09 0.10 0.14 0.16 0.18 Net Gains (Losses) on Securities (Realized and Unrealized). -- (0.06) (0.01) (0.03) 0.10 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations......................... 0.09 0.04 0.13 0.13 0.28 ------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.09) (0.10) (0.14) (0.17) (0.18) Net Realized Gains......................................... -- -- -- -- -- ---------- ---------- ---------- ---------- ---------- Total Distributions...................................... (0.09) (0.10) (0.14) (0.17) (0.18) ------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period.............................. $ 10.23 $ 10.23 $ 10.29 $ 10.30 $ 10.34 =========================================================== ========== ========== ========== ========== ========== Total Return................................................ 0.87% 0.42% 1.30% 1.24% 2.73% ------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)....................... $2,206,915 $1,780,699 $1,582,296 $1,525,039 $1,414,926 Ratio of Expenses to Average Net Assets..................... 0.22% 0.22% 0.22% 0.23% 0.23% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)........ 0.22% 0.22% 0.22% 0.23% 0.23% Ratio of Net Investment Income to Average Net Assets........ 0.88% 0.98% 1.38% 1.60% 1.72% Portfolio Turnover Rate..................................... 30% 24% 20% 13% 1% ------------------------------------------------------------------------------------------------------------------------- DFA Intermediate-Term Municipal Bond Portfolio ------------------------------ Period Year Year March 1, Ended Ended 2012 (a) to Oct. 31, Oct. 31, Oct. 31, 2014 2013 2012 -------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................ $ 9.84 $ 10.06 $ 10.00 -------- -------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.17 0.13 0.07 Net Gains (Losses) on Securities (Realized and Unrealized). 0.25 (0.22) 0.04 -------- -------- ------- Total from Investment Operations......................... 0.42 (0.09) 0.11 -------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.16) (0.13) (0.05) Net Realized Gains......................................... -- -- -- -------- -------- ------- Total Distributions...................................... (0.16) (0.13) (0.05) -------------------------------------------------------------------------------------------------- Net Asset Value, End of Period.............................. $ 10.10 $ 9.84 $ 10.06 =========================================================== ======== ======== =========== Total Return................................................ 4.34% (0.91)% 1.13%(D) -------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)....................... $508,722 $269,514 $89,499 Ratio of Expenses to Average Net Assets..................... 0.23% 0.23% 0.23%(C)(E) Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)........ 0.24% 0.26% 0.34%(C)(E) Ratio of Net Investment Income to Average Net Assets........ 1.69% 1.36% 1.09%(C)(E) Portfolio Turnover Rate..................................... 4% 0% 2%(D) -------------------------------------------------------------------------------------------------- See page 1 & 2 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 122 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (for a share outstanding throughout each period) DFA California 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, 2014 2013 2012 2011 2010 ---------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................ $ 10.31 $ 10.34 $ 10.32 $ 10.39 $ 10.26 -------- -------- -------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.09 0.10 0.15 0.17 0.19 Net Gains (Losses) on Securities (Realized and Unrealized). 0.01 (0.03) 0.02 (0.06) 0.13 -------- -------- -------- -------- -------- Total from Investment Operations......................... 0.10 0.07 0.17 0.11 0.32 ---------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.08) (0.10) (0.15) (0.18) (0.19) -------- -------- -------- -------- -------- Total Distributions...................................... (0.08) (0.10) (0.15) (0.18) (0.19) ---------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period.............................. $ 10.33 $ 10.31 $ 10.34 $ 10.32 $ 10.39 =========================================================== ======== ======== ======== ======== ======== Total Return................................................ 1.02% 0.70% 1.61% 1.08% 3.14% ---------------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)....................... $703,773 $521,090 $395,141 $317,822 $297,631 Ratio of Expenses to Average Net Assets..................... 0.22% 0.23% 0.23% 0.23% 0.24% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor)................................. 0.22% 0.23% 0.23% 0.23% 0.24% Ratio of Net Investment Income to Average Net Assets........ 0.83% 0.98% 1.41% 1.69% 1.83% Portfolio Turnover Rate..................................... 22% 28% 20% 15% 4% ---------------------------------------------------------------------------------------------------------------- DFA California Intermediate-Term Municipal Bond Portfolio ---------------------------- Period Year Year Nov. 29, Ended Ended 2011 (a) to Oct. 31, Oct. 31, Oct. 31, 2014 2013 2012 ------------------------------------------------------------------------------------------------ Net Asset Value, Beginning of Period........................ $ 10.16 $ 10.30 $ 10.00 -------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.18 0.15 0.15 Net Gains (Losses) on Securities (Realized and Unrealized). 0.30 (0.14) 0.27 -------- ------- ------- Total from Investment Operations......................... 0.48 0.01 0.42 ------------------------------------------------------------------------------------------------ Less Distributions ------------------ Net Investment Income...................................... (0.17) (0.15) (0.12) -------- ------- ------- Total Distributions...................................... (0.17) (0.15) (0.12) ------------------------------------------------------------------------------------------------ Net Asset Value, End of Period.............................. $ 10.47 $ 10.16 $ 10.30 =========================================================== ======== ======== =========== Total Return................................................ 4.82% 0.08% 4.21%(D) ------------------------------------------------------------------------------------------------ Net Assets, End of Period (thousands)....................... $140,424 $97,199 $58,652 Ratio of Expenses to Average Net Assets..................... 0.23% 0.23% 0.23%(C)(E) Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor)................................. 0.24% 0.26% 0.41%(C)(E) Ratio of Net Investment Income to Average Net Assets........ 1.75% 1.48% 1.51%(C)(E) Portfolio Turnover Rate..................................... 14% 11% 0%(D) ------------------------------------------------------------------------------------------------ See page 1 & 2 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 123 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-seven operational portfolios, of which sixteen (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 of Ownership Master Funds at October 31, 2014) ------------ ------------------------------ DFA Intermediate-Term Extended Quality Portfolio... 57% DFA Intermediate Government Fixed Income Portfolio. 23% DFA Short-Term Extended Quality Portfolio.......... 5% DFA Short-Term Government Portfolio................ 5% Effective February 28, 2011, DFA Five-Year Government Portfolio changed its name to DFA Short-Term Government Portfolio. 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 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. 124 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. Swap agreements will be valued at the price provided by an independent third-party pricing service or source. If a price is not available from an independent third-party pricing service or source, the swap agreement will be 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. 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, 2014, there were no significant transfers between Level 1 and Level 2 and no significant 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, DFA Intermediate-Term Extended Quality Portfolio (the "International Fixed Income Portfolios"), DFA Investment Grade Portfolio and DFA Short-Duration Real Return 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 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, DFA Investment Grade Portfolio and DFA Short-Duration Real Return Portfolio 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, DFA Investment Grade Portfolio and DFA Short-Duration Real Return 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. 125 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, 2014, 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. C. Investment Advisor and Administrator: The Advisor, Dimensional Fund Advisors LP, provides investment advisory services to the Portfolios. For the year ended October 31, 2014, 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-Duration Real Return Portfolio.................. 0.20% 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% For the year ended October 31, 2014, 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% * Prior to February 28, 2014, these Portfolios were provided administrative services under an administrative agreement. Effective February 28, 2014, the administrative agreement and investment advisory agreement for each of the Portfolios were combined into an investment 126 management agreement that provides for an investment management fee, equal to each Portfolio's previous investment advisory services fee and administrative services fee, payable to the Advisor for both investment advisory services and administrative services. Further, on December 13, 2013, the Board of the Fund voted to approve the combination of the Investment Advisory Agreement and the Administration Agreement (together, the "Previous Agreements") into a bundled Investment Management Agreement for the DFA One-Year Fixed Income Portfolio and DFA Two-Year Global Fixed Income Portfolio. The Investment Management Agreements became effective on February 28, 2014. The nature and level of services to each Portfolio under the Investment Management Agreements are the same as under the Previous Agreements. As of February 28, 2014, the Portfolios pay the Advisor an investment management fee that is equal to the sum of the previous investment advisory and administration fees that were paid by each Portfolio to the Advisor under the Previous Agreements. 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 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, 2015, and may only be terminated by the Fund's Board of Directors prior to that date. The Fee Waiver Agreement shall continue in effect from year to year thereafter unless terminated by the Fund or the Advisor. For the year ended October 31, 2014, 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% -- $ 227 DFA Short-Term Extended Quality Portfolio (1)...... 0.22% $29 352 DFA Intermediate-Term Extended Quality Portfolio (1).................................... 0.22% 39 205 DFA Investment Grade Portfolio (3)................. 0.22% -- 6,671 DFA Inflation-Protected Securities Portfolio (1)... 0.20% -- -- DFA Short-Duration Real Return Portfolio (4)....... 0.24% -- 258 DFA Short-Term Municipal Bond Portfolio (2)........ 0.30% -- -- DFA Intermediate-Term Municipal Bond Portfolio (1). 0.23% -- 125 DFA California Short-Term Municipal Bond Portfolio (1).................................... 0.30% -- -- DFA California Intermediate-Term Municipal Bond Portfolio (1).................................... 0.23% -- 99 (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. 127 (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. (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. (4) The Advisor has contractually agreed to waive up to the full amount of the Portfolio's management fee of 0.20% to the extent necessary to offset the proportionate share of the management fees paid by the Portfolio through its investment in other funds managed by the Advisor (the "Underlying Funds"). 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 ordinary operating expenses of a class 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 to the rate listed above as a percentage of average net assets of such class of the Portfolio on an annualized basis (the "Expense Limitation Amount"). At any time that the Portfolio's annualized Portfolio Expenses 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 annualized Portfolio Expenses of a class 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 year ended October 31, 2014, expenses reduced were as follows (amounts in thousands): Fees Paid Indirectly - ---------- DFA Two-Year Global Fixed Income Portfolio........... $33 DFA Selectively Hedged Global Fixed Income Portfolio. 10 DFA Five-Year Global Fixed Income Portfolio.......... 59 DFA World ex U.S. Government Fixed Income Portfolio.. 4 DFA Short-Term Extended Quality Portfolio............ 34 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, 2014, the total related amounts paid by the Fund to the CCO were $262 (in thousands). The total related amounts paid by each of the Portfolios are included in Other Expenses on the Statement of Operations. 128 D. Deferred Compensation: At October 31, 2014, 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....................... $330 DFA Two-Year Global Fixed Income Portfolio................ 273 DFA Selectively Hedged Global Fixed Income Portfolio...... 20 DFA Short-Term Government Portfolio....................... 57 DFA Five-Year Global Fixed Income Portfolio............... 201 DFA World ex U.S. Government Fixed Income Portfolio....... 2 DFA Intermediate Government Fixed Income Portfolio........ 90 DFA Short-Term Extended Quality Portfolio................. 41 DFA Intermediate-Term Extended Quality Portfolio.......... 15 DFA Investment Grade Portfolio............................ 15 DFA Inflation-Protected Securities Portfolio.............. 54 DFA Short-Duration Real Return Portfolio.................. 1 DFA Short-Term Municipal Bond Portfolio................... 59 DFA Intermediate-Term Municipal Bond Portfolio............ 2 DFA California Short-Term Municipal Bond Portfolio........ 13 DFA California Intermediate-Term Municipal Bond Portfolio. 1 E. Purchases and Sales of Securities: For the year ended October 31, 2014, 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.................. $2,334,761 $1,668,979 $3,826,798 $3,590,991 DFA Two-Year Global Fixed Income Portfolio........... 1,885,428 1,999,590 4,686,949 3,761,602 DFA Selectively Hedged Global Fixed Income Portfolio. 96,605 118,675 549,999 358,993 DFA Short-Term Government Portfolio.................. 1,066,200 759,929 -- -- DFA Five-Year Global Fixed Income Portfolio.......... 232,048 374,582 7,084,867 5,027,037 DFA World ex U.S. Government Fixed Income Portfolio.. 13,423 10,901 211,781 106,069 DFA Intermediate Government Fixed Income Portfolio... 1,443,177 1,023,265 -- -- DFA Short-Term Extended Quality Portfolio............ 234,587 213,108 2,026,583 576,651 DFA Intermediate-Term Extended Quality Portfolio..... 82,382 81,307 1,029,714 315,475 DFA Inflation-Protected Securities Portfolio......... 766,076 642,653 -- -- DFA Short-Duration Real Return Portfolio............. 225,117 188,158 647,607 303,843 DFA Short-Term Municipal Bond Portfolio.............. -- -- 1,251,202 538,135 DFA Intermediate-Term Municipal Bond Portfolio....... -- -- 249,222 13,893 DFA California Short-Term Municipal Bond Portfolio... -- -- 335,580 120,180 DFA California Intermediate-Term Municipal Bond Portfolio.......................................... -- -- 57,258 15,689 129 For the year ended October 31, 2014, DFA Investment Grade Portfolio and DFA Short-Duration Real Return 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 10/31/2013 10/31/2014 Purchases Sales Income Realized Gains ------------------------------- ---------- ---------- ---------- -------- -------- ---------------- DFA Intermediate-Term Extended Quality Portfolio............. $ 766,075 $1,208,051 $ 462,226 $ 51,823 $29,551 $269 DFA Intermediate Government Fixed Income Portfolio........ 489,951 928,227 435,936 4,302 16,525 -- DFA Short-Term Extended Quality Portfolio............. 88,053 179,194 134,472 43,200 1,523 177 DFA Short-Term Government Portfolio..................... 79,012 110,392 42,952 11,500 630 170 ---------- ---------- ---------- -------- ------- ---- Total........................... $1,423,091 $2,425,864 $1,075,586 $110,825 $48,229 $616 ========== ========== ========== ======== ======= ==== DFA Short-Duration Real Return Portfolio ------------------------------------------------------------------- Balance at Balance at Dividend Distributions of Affiliated Investment Companies 10/31/2013 10/31/2014 Purchases Sales Income Realized Gains ------------------------------- ---------- ---------- ---------- -------- -------- ---------------- DFA Intermediate-Term Extended Quality Portfolio............. -- -- $ 15,352 $ 15,584 $ 119 $ 2 DFA One-Year Fixed Income Portfolio..................... -- -- 14,253 14,251 8 3 DFA Short-Term Extended Quality Portfolio............. -- -- 258,979 258,550 588 118 ---------- ---------- ---------- -------- ------- ---- Total........................... -- -- $ 288,584 $288,385 $ 715 $123 ========== ========== ========== ======== ======= ==== 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, 2014, primarily attributable to net foreign currency gains/losses, non-deductible expenses, expiration of capital loss carryovers, distribution redesignations and 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........... -- $32,985 $(32,985) DFA Selectively Hedged Global Fixed Income Portfolio. -- 1,683 (1,683) DFA Short-Term Government Portfolio.................. -- -- -- DFA Five-Year Global Fixed Income Portfolio.......... -- 40,107 (40,107) 130 Increase Increase (Decrease) (Decrease) Increase Undistributed Accumulated (Decrease) Net Investment Net Realized Paid-In Capital Income Gains (Losses) --------------- -------------- -------------- DFA World ex U.S. Government Fixed Income Portfolio. -- $10,250 $(10,250) DFA Intermediate Government Fixed Income Portfolio.. -- -- -- DFA Short-Term Extended Quality Portfolio........... $2,482 3,292 (5,774) DFA Intermediate-Term Extended Quality Portfolio.... -- 1,073 (1,073) DFA Investment Grade Portfolio...................... -- 42 (42) DFA Inflation-Protected Securities Portfolio........ -- 3,978 (3,978) DFA Short-Duration Real Return Portfolio............ (18) 387 (369) 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, 2013 and October 31, 2014 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 2013............................................. $ 40,734 $ 7,281 -- $ 48,015 2014............................................. 28,905 4,135 -- 33,040 DFA Two-Year Global Fixed Income Portfolio 2013............................................. 54,661 1,375 -- 56,036 2014............................................. 49,533 2,218 -- 51,751 DFA Selectively Hedged Global Fixed Income Portfolio 2013............................................. 21,221 -- -- 21,221 2014............................................. 12,924 79 -- 13,003 DFA Short-Term Government Portfolio 2013............................................. 13,530 13,008 -- 26,538 2014............................................. 13,843 3,400 -- 17,243 DFA Five-Year Global Fixed Income Portfolio 2013............................................. 80,566 42,555 -- 123,121 2014............................................. 112,109 97,134 -- 209,243 DFA World ex U.S. Government Fixed Income Portfolio 2013............................................. 4,243 -- -- 4,243 2014............................................. 7,631 -- -- 7,631 DFA Intermediate Government Fixed Income Portfolio 2013............................................. 82,721 5,297 -- 88,018 2014............................................. 82,370 -- -- 82,370 DFA Short-Term Extended Quality Portfolio 2013............................................. 37,553 4,387 -- 41,940 2014............................................. 43,890 4,861 -- 48,751 DFA Intermediate-Term Extended Quality Portfolio 2013............................................. 30,139 565 -- 30,704 2014............................................. 50,273 441 -- 50,714 131 Net Investment Income and Short-Term Long-Term Tax Exempt Capital Gains Capital Gains Income Total -------------- ------------- ---------- ------- DFA Investment Grade Portfolio 2013............................................ $24,205 $ 867 -- $25,072 2014............................................ 46,763 330 -- 47,093 DFA Inflation-Protected Securities Portfolio 2013............................................ 51,554 13,876 -- 65,430 2014............................................ 50,951 3,978 -- 54,929 DFA Short-Duration Real Return Portfolio 2013............................................ -- -- -- -- 2014............................................ 176 -- -- 176 DFA Short-Term Municipal Bond Portfolio 2013............................................ -- -- $16,375 16,375 2014............................................ -- -- 17,269 17,269 DFA Intermediate-Term Municipal Bond Portfolio 2013............................................ -- -- 1,943 1,943 2014............................................ -- -- 6,232 6,232 DFA California Short-Term Municipal Bond Portfolio 2013............................................ -- -- 4,312 4,312 2014............................................ -- -- 5,014 5,014 DFA California Intermediate-Term Municipal Bond Portfolio 2013............................................ -- -- 1,248 1,248 2014............................................ -- -- 1,997 1,997 DFA Short-Duration Real Return Portfolio commenced operations on November 5, 2013 and did not pay any distributions for the year ended October 31, 2013. At October 31, 2014, 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 Carryforward (Depreciation) Losses) -------------- ------------- ------------ -------------- ------------- DFA One-Year Fixed Income Portfolio. $ 4,776 $ 2,569 -- $ 6,044 $ 13,389 DFA Two-Year Global Fixed Income Portfolio......................... 63,958 561 -- (90,472) (25,953) DFA Selectively Hedged Global Fixed Income Portfolio.................. 15,115 -- $(28,958) (3,212) (17,055) DFA Short-Term Government Portfolio......................... 3,511 3,546 -- 2,045 9,102 DFA Five-Year Global Fixed Income Portfolio......................... 103,253 14,764 -- 22,121 140,138 DFA World ex U.S. Government Fixed Income Portfolio.................. 23,139 1,249 -- (8,216) 16,172 DFA Intermediate Government Fixed Income Portfolio.................. 14,594 20,169 -- 100,388 135,151 DFA Short-Term Extended Quality Portfolio......................... 12,072 2,295 -- 15,028 29,395 DFA Intermediate-Term Extended Quality Portfolio................. 7,459 8,974 -- 25,141 41,574 132 Undistributed Total Net Net Investment Distributable Income and Undistributed Unrealized Earnings Short-Term Long-Term Capital Loss Appreciation (Accumulated Capital Gains Capital Gains Carryforward (Depreciation) Losses) -------------- ------------- ------------ -------------- ------------- DFA Investment Grade Portfolio....... $2,898 $ 80 -- $18,443 $21,421 DFA Inflation-Protected Securities Portfolio.......................... -- 6,729 -- 51,477 58,206 DFA Short-Duration Real Return Portfolio.......................... 4,185 14 -- (6,157) (1,958) DFA Short-Term Municipal Bond Portfolio.......................... 1,570 -- $(66) 15,398 16,902 DFA Intermediate-Term Municipal Bond Portfolio.......................... 615 -- (90) 9,363 9,888 DFA California Short-Term Municipal Bond Portfolio..................... 421 -- (8) 5,203 5,616 DFA California Intermediate-Term Municipal Bond Portfolio........... 191 -- -- 3,172 3,363 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, 2014, 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, ---------------------- 2018 2019 Unlimited Total ---- ---- --------- ------- DFA One-Year Fixed Income Portfolio....................... -- -- -- -- DFA Two-Year Global Fixed Income Portfolio................ -- -- -- -- DFA Selectively Hedged Global Fixed Income Portfolio...... -- -- $28,958 $28,958 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-Duration Real Return Portfolio.................. -- -- -- -- DFA Short-Term Municipal Bond Portfolio................... -- $ 3 62 65 DFA Intermediate-Term Municipal Bond Portfolio............ -- -- 90 90 DFA California Short-Term Municipal Bond Portfolio........ $ 1 3 4 8 DFA California Intermediate-Term Municipal Bond Portfolio. -- -- -- -- During the year ended October 31, 2014, the Portfolios utilized the following capital loss carryforwards to offset realized capital gains for federal income tax purposes (amounts in thousands): DFA Intermediate Government Fixed Income Portfolio........ $ 237 DFA Inflation-Protected Securities Portfolio.............. 3,570 DFA California Short-Term Municipal Bond Portfolio........ -- DFA California Intermediate-Term Municipal Bond Portfolio. 112 133 At October 31, 2014, 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, as follows (amounts in thousands): Net Unrealized Federal Unrealized Unrealized Appreciation Tax Cost Appreciation Depreciation (Depreciation) ----------- ------------ ------------ -------------- DFA One-Year Fixed Income Portfolio................ $ 8,549,703 $ 7,397 $ (1,352) $ 6,045 DFA Two-Year Global Fixed Income Portfolio......... 6,381,131 3,459 (92,475) (89,016) DFA Selectively Hedged Global Fixed Income Portfolio........................................ 1,190,137 3,223 (6,416) (3,193) DFA Short-Term Government Portfolio................ 2,041,479 6,890 (4,844) 2,046 DFA Five-Year Global Fixed Income Portfolio........ 10,105,337 46,230 (27,218) 19,012 DFA World ex U.S. Government Fixed Income Portfolio........................................ 346,874 3,271 (11,655) (8,384) DFA Intermediate Government Fixed Income Portfolio. 3,873,207 112,545 (12,157) 100,388 DFA Short-Term Extended Quality Portfolio.......... 3,997,984 21,370 (6,413) 14,957 DFA Intermediate-Term Extended Quality Portfolio... 2,494,873 37,043 (11,903) 25,140 DFA Investment Grade Portfolio..................... 2,413,679 24,759 (6,315) 18,444 DFA Inflation-Protected Securities Portfolio....... 2,662,298 72,196 (20,720) 51,476 DFA Short-Duration Real Return Portfolio........... 626,535 1,406 (1,282) 124 DFA Short-Term Municipal Bond Portfolio............ 2,163,661 15,697 (299) 15,398 DFA Intermediate-Term Municipal Bond Portfolio..... 495,737 9,810 (447) 9,363 DFA California Short-Term Municipal Bond Portfolio. 690,886 5,357 (154) 5,203 DFA California Intermediate-Term Municipal Bond Portfolio........................................ 136,127 3,290 (117) 3,173 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 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 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. 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. 134 Derivative Financial Instruments: Summarized below are the specific types of derivative instruments used by Portfolios. 2. Forward Currency Contracts: The International Fixed Income Portfolios, DFA Investment Grade Portfolio and DFA Short-Duration Real Return 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, 2014, the following 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 Foreign Settlement Currency Contract Value at Exchange Date Amount** Currency Amount October 31, 2014 Gain (Loss) ---------- -------- ------------------ ----------- ---------------- ----------- 11/4/2014 20,138 Australian Dollar (1) $ 17,693 $ 17,721 $ 28 11/4/2014 (20,138) Australian Dollar (2) (17,634) (17,721) (87) 12/4/2014 (19,858) Australian Dollar (1) (17,411) (17,439) (28) 11/14/2014 (97,543) Canadian Dollar (3) (87,739) (86,523) 1,216 11/25/2014 (108,490) Canadian Dollar (4) (96,354) (96,208) 146 12/1/2014 (35,219) Canadian Dollar (5) (31,411) (31,228) 183 12/8/2014 (95,255) Canadian Dollar (5) (84,765) (84,444) 321 11/6/2014 (63,839) Euro (6) (80,164) (80,001) 163 11/12/2014 (64,024) Euro (6) (82,661) (80,236) 2,425 11/13/2014 (71,706) Euro (6) (90,734) (89,864) 870 11/17/2014 (70,217) Euro (7) (88,751) (87,999) 752 12/9/2014 (50,413) Euro (2) (65,031) (63,189) 1,842 11/3/2014 84,820 UK Pound Sterling (6) 135,905 135,686 (219) 11/3/2014 (84,820) UK Pound Sterling (4) (137,431) (135,686) 1,745 11/4/2014 80,525 UK Pound Sterling (4) 128,599 128,816 217 11/4/2014 (80,525) UK Pound Sterling (6) (129,035) (128,816) 219 11/6/2014 (84,397) UK Pound Sterling (6) (134,830) (135,007) (177) 11/13/2014 (62,690) UK Pound Sterling (6) (99,871) (100,278) (407) 11/17/2014 (84,901) UK Pound Sterling (3) (135,549) (135,801) (252) 11/18/2014 (77,186) UK Pound Sterling (6) (123,493) (123,461) 32 11/21/2014 (76,256) UK Pound Sterling (4) (122,664) (121,970) 694 11/24/2014 (80,724) UK Pound Sterling (5) (130,317) (129,113) 1,204 11/25/2014 (87,776) UK Pound Sterling (5) (140,633) (140,392) 241 12/1/2014 (84,143) UK Pound Sterling (4) (134,881) (134,574) 307 12/3/2014 (84,354) UK Pound Sterling (6) (135,124) (134,909) 215 12/4/2014 (80,721) UK Pound Sterling (4) (128,879) (129,098) (219) ----------- ----------- ------- $(2,013,165) $(2,001,734) $11,431 =========== =========== ======= 135 DFA Selectively Hedged Global Fixed Income Portfolio* Unrealized Foreign Settlement Currency Contract Value at Exchange Date Amount** Currency Amount October 31, 2014 Gain (Loss) ---------- -------- ------------------- --------- ---------------- ----------- 11/18/2014 97,373 Australian Dollar (2) $ 90,166 $ 85,605 $ (4,561) 11/18/2014 9,274 Australian Dollar (1) 8,397 8,153 (244) 11/18/2014 9,274 Australian Dollar (1) 8,397 8,153 (244) 12/1/2014 54,463 Canadian Dollar (2) 48,906 48,290 (616) 12/1/2014 54,463 Canadian Dollar (5) 48,901 48,290 (611) 12/17/2014 127,683 New Zealand Dollar (2) 103,302 99,114 (4,188) 11/26/2014 591,572 Norwegian Krone (5) 95,304 87,639 (7,665) 11/26/2014 52,366 Norwegian Krone (5) 7,902 7,758 (144) 11/26/2014 52,366 Norwegian Krone (5) 7,900 7,758 (142) 12/2/2014 (6,807) Singapore Dollar (7) (5,336) (5,298) 38 11/10/2014 2,735 UK Pound Sterling (2) 4,401 4,375 (26) 11/10/2014 (72,934) UK Pound Sterling (1) (117,363) (116,667) 696 --------- --------- -------- $ 300,877 $ 283,170 $(17,707) ========= ========= ======== DFA Five-Year Global Fixed Income Portfolio* Unrealized Foreign Settlement Currency Contract Value at Exchange Date Amount** Currency Amount October 31, 2014 Gain (Loss) ---------- -------- ------------------ --------- ---------------- ----------- 11/12/2014 (11,012) Singapore Dollar (4) $ (8,651) $ (8,572) $ 79 11/12/2014 (51,992) Singapore Dollar (6) (41,163) (40,469) 694 11/21/2014 (8,633) Singapore Dollar (8) (6,769) (6,719) 50 11/21/2014 (9,769) Singapore Dollar (4) (7,698) (7,603) 95 11/21/2014 (11,063) Singapore Dollar (6) (8,727) (8,611) 116 11/21/2014 (11,445) Singapore Dollar (6) (9,037) (8,908) 129 11/21/2014 (27,316) Singapore Dollar (4) (21,564) (21,261) 303 12/12/2014 (67,888) Singapore Dollar (2) (53,484) (52,835) 649 12/15/2014 (74,425) Singapore Dollar (2) (58,815) (57,922) 893 12/16/2014 (68,979) Singapore Dollar (6) (54,176) (53,683) 493 11/3/2014 54,862 UK Pound Sterling (6) 87,905 87,763 (142) 11/3/2014 (54,862) UK Pound Sterling (4) (88,909) (87,763) 1,146 11/4/2014 58,224 UK Pound Sterling (4) 92,996 93,142 146 11/4/2014 (58,224) UK Pound Sterling (4) (93,974) (93,141) 833 11/6/2014 31,980 UK Pound Sterling (6) 51,309 51,158 (151) 11/6/2014 (63,408) UK Pound Sterling (1) (101,290) (101,431) (141) 11/14/2014 (55,250) UK Pound Sterling (1) (89,395) (88,376) 1,019 11/17/2014 10,655 UK Pound Sterling (5) 16,947 17,043 96 11/17/2014 10,655 UK Pound Sterling (1) 16,943 17,043 100 11/17/2014 (63,424) UK Pound Sterling (5) (101,637) (101,449) 188 11/18/2014 9,812 UK Pound Sterling (5) 15,833 15,695 (138) 11/18/2014 (62,097) UK Pound Sterling (6) (99,146) (99,326) (180) 11/21/2014 (54,080) UK Pound Sterling (1) (86,990) (86,500) 490 11/24/2014 14,260 UK Pound Sterling (4) 22,810 22,809 (1) 11/24/2014 (59,202) UK Pound Sterling (6) (95,572) (94,690) 882 11/26/2014 (52,275) UK Pound Sterling (5) (83,754) (83,609) 145 11/28/2014 (49,350) UK Pound Sterling (5) (79,198) (78,930) 268 12/1/2014 (43,356) UK Pound Sterling (4) (69,513) (69,342) 171 136 Unrealized Foreign Settlement Currency Contract Value at Exchange Date Amount** Currency Amount October 31, 2014 Gain (Loss) ---------- -------- ------------------ ----------- ---------------- ----------- 12/3/2014 (54,642) UK Pound Sterling (6) $ (87,530) $ (87,390) $ 140 12/4/2014 (58,603) UK Pound Sterling (4) (93,577) (93,724) (147) ----------- ----------- ------ $(1,135,826) $(1,127,601) $8,225 =========== =========== ====== DFA World ex U.S. Government Fixed Income Portfolio* Unrealized Foreign Settlement Currency Contract Value at Exchange Date Amount** Currency Amount October 31, 2014 Gain (Loss) ---------- ---------- ------------------- --------- ---------------- ----------- 11/14/2014 (32) Australian Dollar (4) $ (28) $ (28) -- 11/14/2014 (2,161) Australian Dollar (4) (1,892) (1,901) $ (9) 11/14/2014 454 Canadian Dollar (4) 414 403 (11) 11/14/2014 362 Canadian Dollar (4) 321 321 -- 11/14/2014 (355) Canadian Dollar (4) (315) (314) 1 11/14/2014 (371) Canadian Dollar (4) (329) (329) -- 11/14/2014 (33,389) Canadian Dollar (1) (30,588) (29,617) 971 11/24/2014 (3,284) Denmark Krone (4) (561) (553) 8 11/24/2014 (72,841) Denmark Krone (2) (12,501) (12,265) 236 11/10/2014 (66) Euro (1) (85) (82) 3 11/10/2014 (403) Euro (4) (509) (505) 4 11/10/2014 (537) Euro (1) (684) (674) 10 11/10/2014 (548) Euro (4) (693) (687) 6 11/10/2014 (621) Euro (4) (783) (778) 5 11/10/2014 (763) Euro (4) (964) (956) 8 11/10/2014 (808) Euro (1) (1,030) (1,013) 17 11/10/2014 (1,342) Euro (2) (1,698) (1,682) 16 11/10/2014 (1,484) Euro (1) (1,861) (1,860) 1 11/10/2014 (1,491) Euro (4) (1,866) (1,869) (3) 11/10/2014 (2,268) Euro (2) (2,879) (2,842) 37 11/10/2014 (2,867) Euro (1) (3,669) (3,593) 76 11/10/2014 (3,227) Euro (4) (4,069) (4,044) 25 11/10/2014 (14,457) Euro (6) (18,666) (18,118) 548 11/12/2014 5,361 Euro (2) 6,894 6,718 (176) 11/12/2014 (100,000) Euro (6) (129,112) (125,321) 3,791 1/28/2015 (3,694,201) Japanese Yen (1) (34,299) (32,922) 1,377 11/21/2014 (13,803) New Zealand Dollar (2) (10,933) (10,742) 191 11/14/2014 (405) Norwegian Krone (3) (62) (60) 2 11/14/2014 (22,968) Norwegian Krone (4) (3,725) (3,404) 321 12/8/2014 (203) Singapore Dollar (4) (160) (158) 2 12/8/2014 (16,652) Singapore Dollar (6) (13,026) (12,960) 66 12/22/2014 (371) Swedish Krona (4) (51) (50) 1 12/22/2014 (656) Swedish Krona (3) (92) (89) 3 12/22/2014 (30,258) Swedish Krona (2) (4,246) (4,098) 148 11/14/2014 3,882 UK Pound Sterling (1) 6,362 6,209 (153) 11/14/2014 548 UK Pound Sterling (3) 883 876 (7) 11/14/2014 (340) UK Pound Sterling (2) (543) (543) -- 11/14/2014 (553) UK Pound Sterling (1) (884) (884) -- 11/14/2014 (571) UK Pound Sterling (2) (917) (913) 4 11/14/2014 (745) UK Pound Sterling (4) (1,199) (1,191) 8 137 Unrealized Foreign Settlement Currency Contract Value at Exchange Date Amount** Currency Amount October 31, 2014 Gain (Loss) ---------- -------- ------------------ --------- ---------------- ----------- 11/14/2014 (757) UK Pound Sterling (4) $ (1,215) $ (1,211) $ 4 11/14/2014 (1,082) UK Pound Sterling (4) (1,793) (1,731) 62 11/14/2014 (1,209) UK Pound Sterling (4) (1,941) (1,934) 7 11/14/2014 (1,310) UK Pound Sterling (6) (2,153) (2,095) 58 11/14/2014 (1,357) UK Pound Sterling (1) (2,182) (2,170) 12 11/14/2014 (1,455) UK Pound Sterling (2) (2,313) (2,327) (14) 11/14/2014 (38,324) UK Pound Sterling (6) (63,925) (61,302) 2,623 --------- --------- ------- $(345,567) $(335,288) $10,279 ========= ========= ======= DFA Short-Term Extended Quality Portfolio* Unrealized Foreign Settlement Currency Contract Value at Exchange Date Amount** Currency Amount October 31, 2014 Gain (Loss) ---------- -------- ------------------ -------- ---------------- ----------- 12/8/2014 (208) Singapore Dollar (4) $ (163) $ (162) $ 1 12/8/2014 (18,287) Singapore Dollar (6) (14,311) (14,232) 79 11/14/2014 (46,080) UK Pound Sterling (1) (74,563) (73,708) 855 -------- -------- ---- $(89,037) $(88,102) $935 ======== ======== ==== DFA Short-Duration Real Return Portfolio* Unrealized Foreign Settlement Currency Contract Value at Exchange Date Amount** Currency Amount October 31, 2014 Gain (Loss) ---------- -------- ------------------ -------- ---------------- ----------- 12/1/2014 (710) Singapore Dollar (4) $ (556) $ (552) $ 4 11/17/2014 (4,409) UK Pound Sterling (4) (7,067) (7,053) 14 ------- ------- --- $(7,623) $(7,605) $18 ======= ======= === Counterparties: (1)JP Morgan (2)Bank of America Corp. (3)Barclays Capital INC. (4)Citibank, N.A. (5)Morgan Stanley and Co. (6)State Street Bank and Trust (7)RBS (8)UBS AG * During the year ended October 31, 2014, the following Portfolios' average contract amount of forward currency contracts were (in thousands): DFA Two-Year Global Fixed Income Portfolio........... $2,739,734 DFA Selectively Hedged Global Fixed Income Portfolio. 446,609 DFA Five-Year Global Fixed Income Portfolio.......... 2,242,112 DFA World ex U.S. Government Fixed Income Portfolio.. 308,786 DFA Short-Term Extended Quality Portfolio............ 164,853 DFA Intermediate-Term Extended Quality Portfolio..... 18,630 DFA Short-Duration Real Return Portfolio............. 5,007 **Positive Currency Amount represents a purchase contract and a Currency Amount in parentheses represents a sale contract. 138 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. Swap Agreements: The DFA Short-Duration Real Return Portfolio may enter into inflation swap agreements to seek inflation protection. Inflation swap agreements are contracts in which one party agrees to pay the cumulative percentage increase in a price index (the Consumer Price Index with respect to CPI swaps) over the term of the swap (with some lag on the inflation index), and the other pays a compounded fixed rate. Inflation swap agreements may be used by the DFA Short-Duration Real Return Portfolio to hedge the inflation risk in nominal bonds (i.e. non-inflation indexed bonds) thereby creating "synthetic" inflation-indexed bonds. Among other reasons, one factor that may lead to changes in the values of inflation swap agreements are changes in real interest rates. Real interest rates are tied to the relationship between nominal interest rates and the rate of inflation. If nominal interest rates increase at a faster rate than inflation, real interest rates may rise, which may lead to a change in the value of an inflation swap agreement. Additionally, payments received by the DFA Short-Duration Real Return Portfolio from inflation swap agreements will result in taxable income, either as ordinary income or capital gains, which will increase the amount of taxable distributions received by shareholders. The Advisor and the Fund do not believe that a Portfolio's obligations under swap contracts are senior securities and, accordingly, the Portfolio will not treat them as being subject to the Portfolio's borrowing or senior securities restrictions. 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. To the extent that a Portfolio cannot dispose of a swap in the ordinary course of business within seven days at approximately the value at which the Portfolio has valued the swap, the Portfolio will treat the swap as illiquid and subject to its overall limit on illiquid investments of 15% of the Portfolio's net assets. At October 31, 2014, DFA Short-Duration Real Return Portfolio had the following outstanding inflation rate swaps (dollar amounts in thousands): Unrealized Payments Expiration Notional Appreciation Counterparty Received Date Currency Amount* (Depreciation) ------------------------------------ -------- ---------- -------- -------- -------------- Bank of America Corp. (1) CPI 08/26/2019 USD $26,000 $(507) Bank of America Corp. (1) CPI 09/19/2018 USD 27,000 (263) Bank of America Corp. (1) CPI 10/20/2018 USD 32,000 61 Citibank, N.A. (2) CPI 07/25/2018 USD 28,000 (548) Citibank, N.A. (2) CPI 06/02/2018 USD 26,000 (421) Citibank, N.A. (2) CPI 03/14/2017 USD 19,000 (189) Citibank, N.A. (2) CPI 03/05/2017 USD 21,000 (202) Citibank, N.A. (2) CPI 02/13/2017 USD 27,000 (236) Citibank, N.A. (2) CPI 01/15/2017 USD 10,000 (83) Citibank, N.A. (2) CPI 03/03/2017 USD 22,000 (191) Citibank, N.A. (2) CPI 12/18/2016 USD 7,300 (54) Citibank, N.A. (2) CPI 12/24/2016 USD 9,500 (64) Citibank, N.A. (2) CPI 11/13/2016 USD 26,000 (223) Citibank, N.A. (2) CPI 10/30/2017 USD 28,000 21 Credit Suisse (3) CPI 06/27/2017 USD 26,000 (522) Credit Suisse (3) CPI 05/08/2018 USD 21,000 (240) Credit Suisse (3) CPI 02/24/2017 USD 19,000 (173) Credit Suisse (3) CPI 11/18/2016 USD 5,000 (51) Credit Suisse (3) CPI 11/08/2016 USD 14,000 (131) Deutsche Bank AG, London Branch (4) CPI 06/12/2019 USD 26,000 (517) Deutsche Bank AG, London Branch (4) CPI 06/20/2017 USD 26,000 (453) 139 Unrealized Payments Expiration Notional Appreciation Counterparty Received Date Currency Amount* (Depreciation) ------------------------------------ -------- ---------- -------- -------- -------------- Deutsche Bank AG, London Branch (4) CPI 04/25/2017 USD $ 20,000 $ (208) Deutsche Bank AG, London Branch (4) CPI 01/08/2017 USD 23,000 (185) Deutsche Bank AG, London Branch (4) CPI 02/05/2017 USD 18,000 (127) Deutsche Bank AG, London Branch (4) CPI 01/28/2017 USD 11,000 (76) Deutsche Bank AG, London Branch (4) CPI 01/02/2017 USD 20,300 (142) Deutsche Bank AG, London Branch (4) CPI 11/08/2016 USD 14,000 (131) Deutsche Bank AG, London Branch (4) CPI 04/07/2017 USD 21,000 (139) Deutsche Bank AG, London Branch (4) CPI 03/31/2017 USD 21,000 (136) Deutsche Bank AG, London Branch (4) CPI 12/10/2016 USD 12,000 (85) Deutsche Bank AG, London Branch (4) CPI 12/04/2016 USD 10,500 (69) -------- ------- $616,600 $(6,284) ======== ======= (1)Payments will be made to counterparty at negotiated rates ranging from 1.755%-2.224%. (2)Payments will be made to counterparty at negotiated rates ranging from 1.669%-2.215%. (3)Payments will be made to counterparty at negotiated rates ranging from 1.888%-2.268%. (4)Payments will be made to counterparty at negotiated rates ranging from 1.815%-2.242%. *During the year ended October 31, 2014 the average notional value of outstanding swap contracts was $360,717 (in thousands). The following is a summary of the location of derivatives on the Portfolios' Statements of Assets and Liabilities as of October 31, 2014: 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 Inflation swap contracts Unrealized Gain on Swap Unrealized Loss on Swap Contracts Contracts The following is a summary of the Portfolios' derivative instrument holdings categorized by primary risk exposure as of October 31, 2014 (amounts in thousands): Asset Derivatives Value ----------------------------------- Total Value Foreign Inflation at Exchange Swap October 31, 2014 Contracts Contracts - ---------------- --------- --------- DFA Two-Year Global Fixed Income Portfolio........... $ 12,820 $ 12,820 -- DFA Selectively Hedged Global Fixed Income Portfolio. 734 734 -- DFA Five-Year Global Fixed Income Portfolio.......... 9,125 9,125 -- DFA World ex U.S. Government Fixed Income Portfolio.. 10,652 10,652 -- DFA Short-Term Extended Quality Portfolio............ 935 935 -- DFA Short-Duration Real Return Portfolio............. 100 18 $ 82 Liability Derivatives Value - ----------------------------------- Total Value Foreign Inflation at Exchange Swap October 31, 2014 Contracts Contracts ---------------- --------- --------- DFA Two-Year Global Fixed Income Portfolio........... $ (1,389) $ (1,389) -- DFA Selectively Hedged Global Fixed Income Portfolio. (18,441) (18,441) -- DFA Five-Year Global Fixed Income Portfolio.......... (900) (900) -- DFA World ex U.S. Government Fixed Income Portfolio.. (373) (373) -- DFA Short-Duration Real Return Portfolio............. (6,366) -- $(6,366) 140 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, 2014: 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 Inflation 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 Portfolios' derivative instrument holdings categorized by primary risk exposure through the year ended October 31, 2014 (amounts in thousands): Realized Gain (Loss) on Derivatives Recognized in Income ------------------------------- Foreign Inflation Exchange Swap Total Contracts Contracts -------- --------- --------- DFA Two-Year Global Fixed Income Portfolio........... $ 61,521 $ 61,521 -- DFA Selectively Hedged Global Fixed Income Portfolio. (7,019) (7,019) -- DFA Five-Year Global Fixed Income Portfolio.......... (25,284) (25,284) -- DFA World ex U.S. Government Fixed Income Portfolio.. 9,308 9,308 -- DFA Short-Term Extended Quality Portfolio............ (585) (585) -- DFA Intermediate-Term Extended Quality Portfolio..... 185 185 -- DFA Short-Duration Real Return Portfolio............. 168 168 -- Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income ------------------------------- Foreign Inflation Exchange Swap Total Contracts Contracts -------- --------- --------- DFA Two-Year Global Fixed Income Portfolio........... $ 22,023 $ 22,023 -- DFA Selectively Hedged Global Fixed Income Portfolio. (17,006) (17,006) -- DFA Five-Year Global Fixed Income Portfolio.......... 16,076 16,076 -- DFA World ex U.S. Government Fixed Income Portfolio.. 12,428 12,428 -- DFA Short-Term Extended Quality Portfolio............ (315) (315) -- DFA Intermediate-Term Extended Quality Portfolio..... 13 13 -- DFA Short-Duration Real Return Portfolio............. (6,266) 18 $(6,284) Offsetting of Derivative Assets and Derivative Liabilities The Portfolios are subject to master netting agreements ("MNA") with certain counterparties which govern the terms of derivative transactions and reduce the counterparty risk associated with such transactions by specifying offsetting mechanisms and collateral posting arrangements at pre-arranged exposure levels. Since different types of transactions have different mechanics and are sometimes traded out of different legal entities of a particular counterparty organization, each type of transaction may be covered by a different MNA, possibly resulting in the need for multiple agreements with a single counterparty. As the MNA's are specific to unique operations of different asset types, they allow each Portfolio to close out and net its total exposure to a counterparty in the event of a default with respect to all the transactions governed under a single MNA with a counterparty. Certain MNA's contain provisions which allow for the net settlement of receivable and payable positions with the same counterparty if defined conditions are met. 141 The following table presents the Portfolios' gross and net amount of assets and liabilities available for offset under netting arrangements as well as any related collateral received or pledged by the Portfolios as of October 31, 2014 (Amounts in thousands): Gross Amounts Not Gross Amounts Not Offset in the Offset in the Statements of Assets Statements of Assets Gross and Liabilities Gross and Liabilities Amounts of ---------------------- Amounts of --------------------------------- Recognized Financial Cash Net Recognized Financial Cash Net Assets Instruments Collateral Amount Liabilities Instruments Collateral Amount Description (a) (b) Received (c) (a) (d) Pledged (e) ----------- ---------- ----------- ---------- ------- ----------- ----------- ---------- ------- Assets Liabilities ----------------------------------------- --------------------------------------------- DFA Two-Year Global Fixed Income Portfolio Forward Currency Contracts. $12,820 $(1,389) -- $11,431 $ 1,389 $(1,389) -- -- DFA Selectively Hedged Global Fixed Income Portfolio Forward Currency Contracts. 734 (488) -- 246 18,441 (488) -- $17,953 DFA Five-Year Global Fixed Income Portfolio Forward Currency Contracts. 9,125 (900) -- 8,225 900 (900) -- -- DFA World ex U.S. Government Fixed Income Portfolio Forward Currency Contracts. 10,652 (366) -- 10,286 373 (366) -- 7 DFA Short-Term Extended Quality Portfolio Forward Currency Contracts. 935 -- -- 935 -- -- -- -- DFA Short-Duration Real Return Portfolio Forward Currency Contracts. 18 -- -- 18 -- -- -- -- Swap Contracts............. 82 (82) -- -- 6,366 (5,437) (f) (220) 709 (a)No amounts have been netted against the gross amounts recognized in the Statements of Assets and Liabilities. (b)Represents the amount of assets that could be offset by liabilities with the same counterparty under master netting or similar agreements that management elects not to offset on the Statements of Assets and Liabilities. (c)Represents the net amount due from counterparties in the event of default. (d)Represents the amount of liabilities that could be offset by assets with the same counterparty under master netting or similar agreements that management elects not to offset on the Statements of Assets and Liabilities as well as pledged non-cash collateral. (e)Represents the net amount due to counterparties in the event of default. (f)The actual collateral received is greater than the amount shown here due to overcollateralization. Note I contains information regarding securities lending amounts that are subject to netting arrangements. H. 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 agreement for the line of credit expires on March 2, 2015. The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit 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 line of credit agreement expires on January 9, 2015. 142 For the year ended October 31, 2014, 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 Investment Grade Portfolio. 0.83% $2,821 9 $1 $3,513 * Number of Days Outstanding represents the total of single or consecutive days during the year ended October 31, 2014, 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, 2014. I. Securities Lending: As of October 31, 2014, some of the Portfolios had securities on loan to brokers/dealers, for which each such Portfolio received cash collateral. In addition, DFA Two-Year Global Fixed Income Portfolio, DFA Five-Year Global Fixed Income Portfolio, DFA Short-Term Extended Quality Portfolio, and DFA Intermediate-Term Extended Quality Portfolio received non-cash collateral consisting of short and/or long term U.S. Treasury securities with a market value of $24,556, $38,044, $20,429 and $33,196 (in thousands), respectively. 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. In the event of the bankruptcy of the borrower, a Portfolio could experience delay in recovering the loaned securities or only recover cash or a security of equivalent value. 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. 143 K. In-Kind Redemptions: In accordance with guidelines described in the Portfolios' prospectus, the Portfolios may distribute portfolio securities rather than cash as payment for a redemption of fund shares (in-kind redemption). For financial reporting purposes, a Portfolio recognizes a gain on in-kind redemptions to the extent the value of the distributed securities on the date of redemption exceed the cost of those securities and a loss on in-kind redemptions to the extent the cost of the distributed securities on the date of redemption exceeds the value of those securities. Gains and losses realized on in-kind redemptions are not recognized for tax purposes and are reclassified from undistributed realized gain (loss) to paid-in capital. During the year ended October 31, 2014, DFA Short-Term Extended Quality Portfolio realized net gains of in-kind redemptions in the amount of $2,482 (amount in thousands). L. Other: At October 31, 2014, 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....................... 4 70% DFA Two-Year Global Fixed Income Portfolio................ 4 86% DFA Selectively Hedged Global Fixed Income Portfolio...... 5 93% DFA Short-Term Government Portfolio....................... 5 83% 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........ 5 93% DFA Short-Term Extended Quality Portfolio................. 5 85% DFA Intermediate-Term Extended Quality Portfolio.......... 5 88% DFA Investment Grade Portfolio............................ 4 93% DFA Inflation-Protected Securities Portfolio.............. 3 61% DFA Short-Duration Real Return Portfolio.................. 3 88% DFA Short-Term Municipal Bond Portfolio................... 5 94% DFA Intermediate-Term Municipal Bond Portfolio............ 4 95% DFA California Short-Term Municipal Bond Portfolio........ 3 94% DFA California Intermediate-Term Municipal Bond Portfolio. 3 96% 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. 144 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors of DFA Investment Dimensions Group Inc. and Shareholders of the Portfolios, as defined: 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-Duration Real Return 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, 2014, 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, 2014 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 19, 2014 145 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 Strategy Committee (the "Strategy 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, 2014. 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, 2014. Each Board's Strategy Committee consists of both interested and disinterested Trustees/Directors. The Strategy Committee is comprised of John P. Gould, Edward P. Lazear, Myron S. Scholes and Eduardo A. Repetto. The Strategy 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 Strategy 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 Strategy Committee was formed on December 17, 2010, and there were two Strategy Committee meetings held during the fiscal year ended October 31, 2014. 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. 146 Name, Position Portfolios within the DFA Principal Occupation(s) During Past 5 with the Fund, Address and Term of Office/1/ and Fund Complex/2/ Years and Other Directorships of Public Year of Birth Length of Service Overseen Companies Held ------------------------------------------------------------------------------------------------------------------------ Disinterested Trustees/Directors ------------------------------------------------------------------------------------------------------------------------ George M. Constantinides DFAIDG-Since 1983 108 portfolios in 4 Leo Melamed Professor of Finance, Director of DFAIDG and DIG. DIG-Since 1993 investment companies University of Chicago Booth School of Trustee of DFAITC and DEM. DFAITC-Since 1992 Business. The University of Chicago DEM-Since 1993 Booth School of Business 5807 S. Woodlawn Avenue Chicago, IL 60637 1947 ------------------------------------------------------------------------------------------------------------------------ John P. Gould DFAIDG-Since 1986 108 portfolios in 4 Steven G. Rothmeier Professor and Director of DFAIDG and DIG. DIG-Since 1993 investment companies Distinguished Service Professor of Trustee of DFAITC and DEM. DFAITC-Since 1992 Economics, University of Chicago Booth The University of Chicago DEM-Since 1993 School of Business (since 1965). Member Booth School of Business and Chair, Competitive Markets Advisory 5807 S. Woodlawn Avenue Council, Chicago Mercantile Exchange Chicago, IL 60637 (futures trading exchange) (since 1939 2004). Trustee, Harbor Fund (registered investment company) (29 Portfolios) (since 1994). Formerly, Member of the Board of Milwaukee Insurance Company (1997-2010). ------------------------------------------------------------------------------------------------------------------------ Roger G. Ibbotson DFAIDG-Since 1981 108 portfolios in 4 Professor in Practice of Finance, Yale Director of DFAIDG and DIG. DIG-Since 1993 investment companies School of Management (since 1984). Trustee of DFAITC and DEM. DFAITC-Since 1992 Chairman, CIO and Partner, Zebra Yale School of Management DEM-Since 1993 Capital Management, LLC (hedge fund and P.O. Box 208200 asset manager) (since 2001). Consultant New Haven, CT 06520-8200 to Morningstar Inc. (since 2006). 1943 Formerly, Director, BIRR Portfolio Analysis, Inc. (software products) (1990-2010). ------------------------------------------------------------------------------------------------------------------------ Edward P. Lazear DFAIDG-Since 2010 108 portfolios in 4 Morris Arnold Cox Senior Fellow, Hoover Director of DFAIDG and DIG. DIG-Since 2010 investment companies Institution (since 2002). Jack Steele Trustee of DFAITC and DEM. DFAITC-Since 2010 Parker Professor of Human Resources Stanford University Graduate DEM-Since 2010 Management and Economics, Graduate School of Business School of Business, Stanford University 518 Memorial Way (since 1995). Cornerstone Research Stanford, CA 94305-5015 (expert testimony and economic and 1948 financial analysis) (since 2009). Formerly, 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 DFAIDG-Since 1981 108 portfolios in 4 Chief Investment Strategist, Janus Director of DFAIDG and DIG. DIG-Since 1993 investment companies Capital Group Inc. (since 2014). Frank Trustee of DFAITC and DEM. DFAITC-Since 1992 E. Buck Professor of Finance Emeritus, c/o Dimensional Fund DEM-Since 1993 Graduate School of Business, Stanford Advisors, LP University (since 1981). Chairman, 6300 Bee Cave Road Ruapay Inc. (since 2013). Formerly, Building 1 Chairman, Platinum Grove Asset Austin, TX 78746 Management, L.P. (hedge fund) 1941 (formerly, Oak Hill Platinum Partners) (1999-2009). Formerly, Director, American Century Fund Complex (registered investment companies) (43 Portfolios) (1980-2014). ------------------------------------------------------------------------------------------------------------------------ Abbie J. Smith DFAIDG-Since 2000 108 portfolios in 4 Boris and Irene Stern Distinguished Director of DFAIDG and DIG. DIG-Since 2000 investment companies Service Professor of Accounting, Trustee of DFAITC and DEM. DFAITC-Since 2000 University of Chicago Booth School of The University of Chicago DEM-Since 2000 Business (since 1980). Director, HNI Booth School of Business Corporation (formerly known as HON 5807 S. Woodlawn Avenue Industries Inc.) (office furniture) Chicago, IL 60637 (since 2000). Director, Ryder System 1953 Inc. (transportation, logistics and supply-chain management) (since 2003). Trustee, UBS Funds (4 investment companies within the fund complex) (33 portfolios) (since 2009). Formerly, Co-Director Investment Research, Fundamental Investment Advisors (hedge fund) (2008-2011). ------------------------------------------------------------------------------------------------------------------------ 147 Name, Position Portfolios within the with the Fund, Address Term of Office/1/ and DFA Fund Complex/2/ Principal Occupation(s) During Past 5 Years and and Year of Birth Length of Service Overseen Other Directorships of Public Companies Held -------------------------------------------------------------------------------------------------------------------------------- Interested Trustees/Directors* -------------------------------------------------------------------------------------------------------------------------------- David G. Booth DFAIDG-Since 1981 108 portfolios in 4 Chairman, Director/Trustee, President, Co-Chief Chairman, Director/Trustee, DIG-Since 1992 investment companies Executive Officer and formerly, Chief Executive President and Co-Chief DFAITC-Since 1992 Officer (until 1/1/2010) of the following companies: Executive Officer DEM-Since 1993 Dimensional Holdings Inc., Dimensional Fund 6300 Bee Cave Road, Advisors LP, DFA Securities LLC, DEM, DFAIDG, Building One DIG and DFAITC (collectively, the "DFA Entities"). Austin, TX 78746 Director of Dimensional Fund Advisors Ltd. and 1946 formerly, Chief Investment Officer. Director of DFA Australia Limited and formerly, President and Chief Investment Officer. Director of Dimensional Advisors Ltd., Dimensional Funds plc and Dimensional Funds II plc. Formerly, President, Dimensional SmartNest (US) LLC (2009-2014). Formerly, Limited Partner, Oak Hill Partners (2001- 2010). Limited Partner, VSC Investors, LLC (since 2007). Trustee, University of Chicago. Trustee, University of Kansas Endowment Association. Formerly, Director, SA Funds (registered investment company). Chairman, Director and Co- Chief Executive Officer of Dimensional Fund Advisors Canada ULC. Director and President (since 2012) of Dimensional Japan Ltd. Chairman, Director, President and Co-Chief Executive Officer of Dimensional Cayman Commodity Fund I Ltd. (since 2010). -------------------------------------------------------------------------------------------------------------------------------- Eduardo A. Repetto DFAIDG-Since 2009 108 portfolios in 4 Co-Chief Executive Officer (beginning January Director/Trustee, Co-Chief DIG-Since 2009 investment companies 2010), Co-Chief Investment Officer (since June Executive Officer and DFAITC-Since 2009 2014), Director/Trustee, and formerly, Chief Co-Chief Investment Officer DEM-Since 2009 Investment Officer (March 2007 - June 2014) of the 6300 Bee Cave Road, DFA Entities. Director, Co-Chief Executive Officer Building One and Chief Investment Officer (since 2010) of Austin, TX 78746 Dimensional Cayman Commodity Fund I Ltd. 1967 Director, Co-Chief Executive Officer, President and Co-Chief Investment Officer of Dimensional Fund Advisors Canada ULC and formerly, Chief Investment Officer (until April 2014). Co-Chief Investment Officer, Vice President, and Director of DFA Australia Limited and formerly, Chief Investment Officer (until April 2014). Director of Dimensional Fund Advisors Ltd., Dimensional Funds plc, Dimensional Funds II plc and Dimensional Advisors Ltd. Formerly, Vice President of the DFA Entities and Dimensional Fund Advisors Canada ULC. Director and Chief Investment Officer (since December 2012) of Dimensional Japan Ltd. /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 DFAIDG, DIG; DFAITC and DEM. Each disinterested Trustee/Director also serves on the Independent Review Committee of the Dimensional Funds, mutual funds registered in the provinces of Canada and managed by an affiliate of Dimensional Fund Advisors LP (the "Advisor"), Dimensional Fund Advisors Canada ULC. * 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 the Advisor. 148 Officers Below is the name, year of birth, information regarding positions with the Funds and the principal occupation for each officer of the Funds. The address of each officer is 6300 Bee Cave Road, Building One, Austin, TX 78746. Each of the officers listed below holds the same office (except as otherwise noted) in the DFA Entities. Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation(s) During Past 5 Years ---------------------------------------------------------------------------------------------------------------------- Officers ---------------------------------------------------------------------------------------------------------------------- April A. Aandal Vice President Since 2008 Vice President of all the DFA Entities. 1963 ---------------------------------------------------------------------------------------------------------------------- Robyn G. Alcorta Vice President Since 2012 Vice President of all the DFA Entities. Formerly, Vice 1974 President, Business Development at Capson Physicians Insurance Company (2010-2012); Vice President at Charles Schwab (2007-2010). ---------------------------------------------------------------------------------------------------------------------- Darryl D. Avery Vice President Since 2005 Vice President of all the DFA Entities. 1966 ---------------------------------------------------------------------------------------------------------------------- Arthur H. Barlow Vice President Since 1993 Vice President of all the DFA Entities. Director and 1955 Managing Director of Dimensional Fund Advisors Ltd (since September 2013). ---------------------------------------------------------------------------------------------------------------------- Peter Bergan Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Senior Infrastructure Manager for Dimensional Fund Advisors LP (January 2011-January 2014); Partner at Stonehouse Consulting (2010). ---------------------------------------------------------------------------------------------------------------------- Lana Bergstein Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Client Service Manager for Dimensional Fund Advisors LP (February 2008-January 2014). ---------------------------------------------------------------------------------------------------------------------- Stanley W. Black Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1970 Senior Research Associate (January 2012-January 2014) and Research Associate (2006-2011) for Dimensional Fund Advisors LP ---------------------------------------------------------------------------------------------------------------------- Aaron T. Borders Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1973 Regional Director for Dimensional Fund Advisors LP (April 2008-January 2014). ---------------------------------------------------------------------------------------------------------------------- Scott A. Bosworth Vice President Since 2007 Vice President of all the DFA Entities. 1968 ---------------------------------------------------------------------------------------------------------------------- Valerie A. Brown Vice President and Since 2001 Vice President and Assistant Secretary of all the 1967 Assistant Secretary DFA Entities, DFA Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Cayman Commodity Fund I Ltd., Dimensional Fund Advisors Pte. and Dimensional Hong Kong Limited. Director, Vice President and Assistant Secretary of Dimensional Fund Advisors Canada ULC. ---------------------------------------------------------------------------------------------------------------------- David P. Butler Vice President Since 2007 Vice President of all the DFA Entities. Head of 1964 Global Financial Services for Dimensional Fund Advisors LP (since 2008). ---------------------------------------------------------------------------------------------------------------------- Douglas M. Byrkit Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1970 Regional Director for Dimensional Fund Advisors LP (December 2010-January 2012); Regional Director at Russell Investments (April 2006-December 2010). ---------------------------------------------------------------------------------------------------------------------- Hunt M. Cairns Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1973 Regional Director (January 2010-January 2014) and Senior Associate (July 2008-December 2009) for Dimensional Fund Advisors LP. ---------------------------------------------------------------------------------------------------------------------- James G. Charles Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1956 Regional Director for Dimensional Fund Advisors LP (2008-2010). ---------------------------------------------------------------------------------------------------------------------- 149 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------------- Joseph H. Chi Vice President Since 2009 Vice President of all the DFA Entities. Co-Head of 1966 Portfolio Management (since March 2012) and Senior Portfolio Manager (since January 2012) for Dimensional Fund Advisors LP. Formerly, Portfolio Manager for Dimensional Fund Advisors LP (October 2005 to January 2012). ------------------------------------------------------------------------------------------------------------------------- Pil Sun Choi Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1972 Counsel for Dimensional Fund Advisors LP (April 2012 - January 2014); Vice President and Counsel for AllianceBernstein L.P. (2006-2012). ------------------------------------------------------------------------------------------------------------------------- Stephen A. Clark Vice President Since 2004 Vice President of all the DFA Entities, DFA Australia 1972 Limited and Dimensional Fund Advisors Canada ULC. Head of Global Institutional Services for Dimensional Fund Advisors LP (since January 2014). Formerly, Head of Institutional, North America (March 2012 to December 2013) and Head of Portfolio Management (January 2006 to March 2012) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- Matt B. Cobb Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (September 2011-March 2013); Vice President at MullinTBG (2005-2011). ------------------------------------------------------------------------------------------------------------------------- Rose C. Cooke Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (August 2010-March 2014); Vice President, Sales and Business Development at AdvisorsIG (PPMG) (2009-2010); Vice President at Credit Suisse (2007- 2009). ------------------------------------------------------------------------------------------------------------------------- Ryan Cooper Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1979 Regional Director for Dimensional Fund Advisors LP (2003-March 2014). ------------------------------------------------------------------------------------------------------------------------- Jeffrey D. Cornell Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1976 Regional Director for Dimensional Fund Advisors LP (August 2002-January 2012). ------------------------------------------------------------------------------------------------------------------------- Robert P. Cornell Vice President Since 2007 Vice President of all the DFA Entities. 1949 ------------------------------------------------------------------------------------------------------------------------- George H. Crane Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1955 Senior Vice President and Managing Director at State Street Bank & Trust Company (2007-2008). ------------------------------------------------------------------------------------------------------------------------- Christopher S. Crossan Vice President and Since 2004 Vice President and Chief Compliance Officer of all 1965 Global Chief the DFA Entities, DFA Australia Limited, and Compliance Officer Dimensional Fund Advisors Ltd. Chief Compliance Officer of Dimensional Fund Advisors Canada. Formerly, Vice President and Chief Compliance Officer for Dimensional SmartNest (US) LLC (October 2010- 2014). ------------------------------------------------------------------------------------------------------------------------- James L. Davis Vice President Since 1999 Vice President of all the DFA Entities. 1956 ------------------------------------------------------------------------------------------------------------------------- Robert T. Deere Vice President Since 1994 Vice President of all the DFA Entities, DFA Australia 1957 Limited and Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------------- Johnathon K. DeKinder Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1979 Regional Director (January 2012-January 2014) and Senior Associate (August 2010-December 2011) for Dimensional Fund Advisors LP; MBA and MPA at the University of Texas at Austin (August 2007-May 2010). ------------------------------------------------------------------------------------------------------------------------- Peter F. Dillard Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1972 Research Associate (August 2008-March 2010) and Research Assistant (April 2006-August 2008) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- 150 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ----------------------------------------------------------------------------------------------------------------------- Robert W. Dintzner Vice President Since 2001 Vice President of all the DFA Entities. 1970 ----------------------------------------------------------------------------------------------------------------------- Karen M. Dolan Vice President Since 2014 Vice President of all the DFA Entities. Head of 1979 Marketing for Dimensional Fund Advisors LP (since February 2013). Formerly, Senior Manager of Research and Marketing for Dimensional Fund Advisors LP (June 2012-January 2013); Director of Mutual Fund Analysis at Morningstar (January 2008- May 2012). ----------------------------------------------------------------------------------------------------------------------- Richard A. Eustice Vice President and Since 1998 Vice President and Assistant Secretary of all the 1965 Assistant Secretary DFA Entities and DFA Australia Limited. Chief Operating Officer for Dimensional Fund Advisors Pte. Ltd. (since April 2013). Formerly, Chief Operating Officer for Dimensional Fund Advisors Ltd. (July 2008-March 2013). ----------------------------------------------------------------------------------------------------------------------- Gretchen A. Flicker Vice President Since 2004 Vice President of all the DFA Entities. 1971 ----------------------------------------------------------------------------------------------------------------------- Jed S. Fogdall Vice President Since 2008 Vice President of all the DFA Entities. Co-Head of 1974 Portfolio Management (since March 2012) and Senior Portfolio Manager (since January 2012) for Dimensional Fund Advisors LP. Formerly, Portfolio Manager for Dimensional Fund Advisors LP (September 2004-January 2012). ----------------------------------------------------------------------------------------------------------------------- Edward A. Foley Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1976 Regional Director for Dimensional Fund Advisors LP (August 2011-January 2014); Senior Vice President of First Trust Advisors L.P. (2007-July 2011). ----------------------------------------------------------------------------------------------------------------------- Jeremy P. Freeman Vice President Since 2009 Vice President of all the DFA Entities. 1970 ----------------------------------------------------------------------------------------------------------------------- Mark R. Gochnour Vice President Since 2007 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Tom M. Goodrum Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1968 Managing Director at BlackRock (2004-January 2012). ----------------------------------------------------------------------------------------------------------------------- Henry F. Gray Vice President Since 2000 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- John T. Gray Vice President Since 2007 Vice President of all the DFA Entities. 1974 ----------------------------------------------------------------------------------------------------------------------- Christian Gunther Vice President Since 2011 Vice President of all the DFA Entities. Senior Trader 1975 for Dimensional Fund Advisors LP (since 2012). Formerly, Senior Trader (2009-2012). ----------------------------------------------------------------------------------------------------------------------- Robert W. Hawkins Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Counsel for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President and Senior Counsel for State Street Global Advisors (November 2008-January 2011). ----------------------------------------------------------------------------------------------------------------------- Joel H. Hefner Vice President Since 2007 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Julie C. Henderson Vice President and Since 2005 Vice President and Fund Controller of all the DFA 1974 Fund Controller Entities, Dimensional Cayman Commodity Fund I Ltd. and Dimensional Japan Ltd. ----------------------------------------------------------------------------------------------------------------------- Kevin B. Hight Vice President Since 2005 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Christine W. Ho Vice President Since 2004 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Michael C. Horvath Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1960 Managing Director, Co-Head Global Consultant Relations at BlackRock (2004-2011). ----------------------------------------------------------------------------------------------------------------------- 151 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years --------------------------------------------------------------------------------------------------------------------------- Jeff J. Jeon Vice President Since 2004 Vice President of all the DFA Entities and 1973 Dimensional Cayman Commodity Fund I Ltd. --------------------------------------------------------------------------------------------------------------------------- Garret D. Jones Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1971 Manager of Sales and Marketing Systems (January 2011-January 2014) and Project Manager (2007- 2010) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Stephen W. Jones Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1968 Facilities Manager for Dimensional Fund Advisors LP (October 2008-January 2012). --------------------------------------------------------------------------------------------------------------------------- David M. Kavanaugh Vice President Since 2014 Vice President of all the DFA Entities. Head of 1978 Operations for Financial Advisor Services for Dimensional Fund Advisors LP (since July 2014). Formerly, Counsel of Dimensional Fund Advisors LP (August 2011-January 2014); Associate at Andrews Kurth LLP (2006-2011). --------------------------------------------------------------------------------------------------------------------------- Patrick M. Keating Vice President and Since 2003 Vice President of all the DFA Entities, Dimensional 1954 Chief Operating Officer Cayman Commodity Fund I Ltd., Dimensional Japan Ltd. and Dimensional Advisors Ltd. Chief Operating Officer of Dimensional Holdings Inc., DFA Securities LLC, Dimensional Fund Advisors LP, Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan Ltd., Dimensional Advisors Ltd. And Dimensional Fund Advisors Pte. Ltd. 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 Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1977 Regional Director for Dimensional Fund Advisors LP (October 2004-January 2013). --------------------------------------------------------------------------------------------------------------------------- Glenn E. Kemp Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1948 Regional Director for Dimensional Fund Advisors LP (April 2006-January 2012). --------------------------------------------------------------------------------------------------------------------------- David M. Kershner Vice President Since 2010 Vice President of all the DFA Entities. Portfolio 1971 Manager for Dimensional Fund Advisors LP (since June 2004). --------------------------------------------------------------------------------------------------------------------------- Kimberly L. Kiser Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1972 Creative Director for Dimensional Fund Advisors LP (September 2012-January 2014); Vice President and Global Creative Director at Morgan Stanley (2007-2012); Visiting Assistant Professor, Graduate Communications Design at Pratt Institute (2004-2012). --------------------------------------------------------------------------------------------------------------------------- Timothy R. Kohn Vice President Since 2011 Vice President of all the DFA Entities. Head of 1971 Defined Contribution Sales for Dimensional Fund Advisors LP (since August 2010). --------------------------------------------------------------------------------------------------------------------------- Joseph F. Kolerich Vice President Since 2004 Vice President of all the DFA Entities. Senior 1971 Portfolio Manager of Dimensional Fund Advisors LP (since January 2012). Formerly, Portfolio Manager for Dimensional (April 2001-January 2012). --------------------------------------------------------------------------------------------------------------------------- Mark D. Krasniewski Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1981 Senior Associate, Investment Analytics and Data (January 2012-December 2012) and Systems Developer (June 2007-December 2011) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Kahne L. Krause Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1966 Regional Director (May 2010-January 2014) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Stephen W. Kurad Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1968 Regional Director for Dimensional Fund Advisors LP (2007-2010). --------------------------------------------------------------------------------------------------------------------------- 152 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------------- Michael F. Lane Vice President Since 2004 Vice President of all the DFA Entities. Formerly, 1967 Chief Executive Officer for Dimensional SmartNest (US) LLC (July 2012-November 2014). ------------------------------------------------------------------------------------------------------------------------- Francis R. Lao Vice President Since 2011 Vice President of all the DFA Entities. Formerly, Vice 1969 President - Global Operations at Janus Capital Group (2005-2011). ------------------------------------------------------------------------------------------------------------------------- David F. LaRusso Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1978 Senior Trader (January 2010-December 2012) and Trader (2000-2009) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- Juliet H. Lee Vice President Since 2005 Vice President of all the DFA Entities. 1971 ------------------------------------------------------------------------------------------------------------------------- Marlena I. Lee Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1980 Research Associate for Dimensional Fund Advisors LP (July 2008-2010). ------------------------------------------------------------------------------------------------------------------------- John B. Lessley Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1960 Regional Director for Dimensional Fund Advisors LP (January 2008-January 2013). ------------------------------------------------------------------------------------------------------------------------- Apollo D. Lupescu Vice President Since 2009 Vice President of all the DFA Entities. 1969 ------------------------------------------------------------------------------------------------------------------------- Peter Magnusson Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1969 Regional Director for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President at Columbia Management (2004-2010). ------------------------------------------------------------------------------------------------------------------------- Kenneth M. Manell Vice President Since 2010 Vice President of all the DFA Entities and 1972 Dimensional Cayman Commodity Fund I Ltd. Formerly, Counsel for Dimensional Fund Advisors LP (September 2006-January 2010). ------------------------------------------------------------------------------------------------------------------------- Aaron M. Marcus Vice President Since 2008 Vice President of all DFA Entities and Head of 1970 Global Human Resources for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- David R. Martin Vice President, Chief Since 2007 Vice President, Chief Financial Officer and Treasurer 1956 Financial Officer and of all the DFA Entities. Director, Vice President, Treasurer Chief Financial Officer and Treasurer of Dimensional Fund Advisors Ltd., DFA Australia Limited, Dimensional Advisors Pte. Ltd., Dimensional Hong Kong Limited, Dimensional Fund Advisors Canada ULC, and Dimensional Cayman Commodity Fund I Ltd. Director of Dimensional Funds plc and Dimensional Funds II plc. Statutory Auditor of Dimensional Japan Ltd. Formerly, Chief Financial Officer, Treasurer and Vice President of Dimensional SmartNest (US) LLC (October 2010-November 2014). ------------------------------------------------------------------------------------------------------------------------- Bryan R. McClune Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1975 Regional Director of Dimensional Fund Advisors LP (January 2009-January 2014). ------------------------------------------------------------------------------------------------------------------------- Philip P. McInnis Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1984 Regional Director (January 2009-January 2014) and Senior Associate (2011) for Dimensional Fund Advisors LP; Investment Consultant (March 2010- December 2010) and Investment Analyst (December 2007-March 2010) at Towers Watson. ------------------------------------------------------------------------------------------------------------------------- Jonathan G. Nelson Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Manager, Investment Systems (2011-January 2013) and Project Manager (2007-2010) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- 153 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ----------------------------------------------------------------------------------------------------------------------------- Catherine L. Newell Vice President and Vice President since 1997 Vice President and Secretary of all the DFA Entities. 1964 Secretary and Secretary since 2000 Director, Vice President and Secretary 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 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). Director of 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). Formerly, Vice President and Secretary of Dimensional SmartNest (US) LLC (October 2010- November 2014). ----------------------------------------------------------------------------------------------------------------------------- Pamela B. Noble Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1964 Portfolio Manager for Dimensional Fund Advisors LP (2008-2010). ----------------------------------------------------------------------------------------------------------------------------- Selwyn Notelovitz Vice President and Since 2013 Vice President of all the DFA Entities. Deputy Chief 1961 Deputy Chief Compliance Officer of Dimensional Fund Advisors Compliance Officer LP (since December 2012). Formerly, Chief Compliance Officer of Wellington Management Company, LLP (2004-2011). ----------------------------------------------------------------------------------------------------------------------------- Carolyn L. O Vice President Since 2010 Vice President of all the DFA Entities and 1974 Dimensional Cayman Commodity Fund I Ltd. Deputy General Counsel, Funds (since 2011). Formerly, Counsel for Dimensional Fund Advisors LP (2007- 2010). ----------------------------------------------------------------------------------------------------------------------------- Gerard K. O'Reilly Vice President and Co- Vice President since 2007 Vice President and Co-Chief Investment Officer of all 1976 Chief Investment and Co-Chief Investment the DFA Entities and Dimensional Fund Advisors Officer Officer since 2014 Canada ULC. Director of Dimensional Funds plc and Dimensional Fund II plc. ----------------------------------------------------------------------------------------------------------------------------- Daniel C. Ong Vice President Since 2009 Vice President of all the DFA Entities. Portfolio 1973 Manager for Dimensional Fund Advisors LP (since July 2005). ----------------------------------------------------------------------------------------------------------------------------- Kyle K. Ozaki Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1978 Senior Compliance Officer (January 2008-January 2010) and Compliance Officer (February 2006- December 2007) for Dimensional Fund Advisors LP. ----------------------------------------------------------------------------------------------------------------------------- Matthew A. Pawlak Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1977 Regional Director for Dimensional Fund Advisors LP (2012-January 2013); Senior Consultant (June 2011- December 2011) and Senior Investment Analyst and Consultant (July 2008-June 2011) at Hewitt EnnisKnupp. ----------------------------------------------------------------------------------------------------------------------------- David A. Plecha Vice President Since 1993 Vice President of all the DFA Entities, DFA Australia 1961 Limited, Dimensional Fund Advisors Ltd. and Dimensional Fund Advisors Canada ULC. ----------------------------------------------------------------------------------------------------------------------------- Allen Pu Vice President Since 2011 Vice President of all the DFA Entities. Portfolio 1970 Manager for Dimensional Fund Advisors LP (since 2006). ----------------------------------------------------------------------------------------------------------------------------- Theodore W. Randall Vice President Since 2008 Vice President of all the DFA Entities. Formerly, 1973 Research Associate for Dimensional Fund Advisors LP (2006 to 2008). ----------------------------------------------------------------------------------------------------------------------------- David J. Rapozo Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1967 Regional Director for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President at BlackRock (2009-2010). ----------------------------------------------------------------------------------------------------------------------------- Mark A. Regier Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1969 Planning and Analysis Manager for Dimensional Fund Advisors LP (July 2007-January 2014). ----------------------------------------------------------------------------------------------------------------------------- 154 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------ Savina B. Rizova Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1981 Research Associate (June 2011-January 2012) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ L. Jacobo Rodriguez Vice President Since 2005 Vice President of all the DFA Entities. 1971 ------------------------------------------------------------------------------------------------------------------ Oliver J. Rowe Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1960 Senior Manager, Human Resources for Dimensional Fund Advisors LP (January 2012-January 2014); Director of Human Resources at Spansion, Inc. (March 2009-December 2011). ------------------------------------------------------------------------------------------------------------------ Julie A. Saft Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1959 Client Systems Manager for Dimensional Fund Advisors LP (July 2008-January 2010); Senior Manager at Vanguard (November 1997-July 2008). ------------------------------------------------------------------------------------------------------------------ Walid A. Shinnawi Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1961 Regional Director for Dimensional Fund Advisors LP (March 2006-January 2010). ------------------------------------------------------------------------------------------------------------------ Bruce A. Simmons Vice President Since 2009 Vice President of all the DFA Entities. Formerly, 1965 Investment Operations Manager for Dimensional Fund Advisors LP (May 2007-January 2009). ------------------------------------------------------------------------------------------------------------------ Ted R. Simpson Vice President Since 2007 Vice President of all the DFA Entities. 1968 ------------------------------------------------------------------------------------------------------------------ Bhanu P. Singh Vice President Since 2014 Vice President of all the DFA Entities. Portfolio 1981 Manager for Dimensional Fund Advisors LP (since January 2012). Formerly, Investment Associate for Dimensional Fund Advisors LP (August 2010- December 2011). ------------------------------------------------------------------------------------------------------------------ Bryce D. Skaff Vice President Since 2007 Vice President of all the DFA Entities. 1975 ------------------------------------------------------------------------------------------------------------------ Lukas J. Smart Vice President Since 2014 Vice President of all the DFA Entities. Portfolio 1977 Manager of Dimensional Fund Advisors LP (since January 2010). ------------------------------------------------------------------------------------------------------------------ Andrew D. Smith Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1968 Project Manager for Dimensional Fund Advisors LP (2007-2010). ------------------------------------------------------------------------------------------------------------------ Grady M. Smith Vice President Since 2004 Vice President of all the DFA Entities and 1956 Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------ Carl G. Snyder Vice President Since 2000 Vice President of all the DFA Entities. 1963 ------------------------------------------------------------------------------------------------------------------ Lawrence R. Spieth Vice President Since 2004 Vice President of all the DFA Entities. 1947 ------------------------------------------------------------------------------------------------------------------ Richard H. Tatlow V Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (April 2010-January 2013). ------------------------------------------------------------------------------------------------------------------ Blake T. Tatsuta Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1973 Manager, Investment Analytics and Data (2012- January 2013) and Research Assistant (2002-2011) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ Erik T. Totten Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1980 Regional Director (2010-January 2013) and Senior Associate (2007-2009) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ John H. Totten Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1978 Regional Director for Dimensional Fund Advisors LP (January 2008-January 2012). ------------------------------------------------------------------------------------------------------------------ Robert C. Trotter Vice President Since 2009 Vice President of all the DFA Entities. 1958 ------------------------------------------------------------------------------------------------------------------ Karen E. Umland Vice President Since 1997 Vice President of all the DFA Entities, DFA Australia 1966 Limited, Dimensional Fund Advisors Ltd., and Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------ 155 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ---------------------------------------------------------------------------------------------------------------- Benjamin C. Walker Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1979 Regional Director for Dimensional Fund Advisors LP (September 2008-January 2014). ---------------------------------------------------------------------------------------------------------------- Brian J. Walsh Vice President Since 2009 Vice President of all the DFA Entities. Portfolio 1970 Manager for Dimensional Fund Advisors LP (since 2004). ---------------------------------------------------------------------------------------------------------------- Weston J. Wellington Vice President Since 1997 Vice President of all the DFA Entities. 1951 ---------------------------------------------------------------------------------------------------------------- Ryan J. Wiley Vice President Since 2007 Vice President of all the DFA Entities. 1976 ---------------------------------------------------------------------------------------------------------------- Paul E. Wise Vice President Since 2005 Vice President of all the DFA Entities. 1955 ---------------------------------------------------------------------------------------------------------------- Joseph L. Young Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1978 Regional Director for Dimensional Fund Advisors LP (2005-2010). ---------------------------------------------------------------------------------------------------------------- /1/ Each officer holds office for an indefinite term at the pleasure of the Board of Directors and until his or her successor is elected and qualified. 156 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://us.dimensional.com and reflects the twelve-month period beginning July 1st and ending June 30th. 157 NOTICE TO SHAREHOLDERS (Unaudited) For shareholders that do not have an October 31, 2014 tax year end, this notice is for informational purposes only. For shareholders with an October 31, 2014 tax year end, please consult your tax advisor as to the pertinence of this notice. For the fiscal year November 1, 2013 to October 31, 2014, 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........................... 80% 8% 12% -- -- 100% 15% DFA Two-Year Global Fixed Income Portfolio........................... 88% 8% 4% -- -- 100% 5% DFA Selectively Hedged Global Fixed Income Portfolio.................... 88% 11% 1% -- -- 100% 2% DFA Short-Term Government Portfolio........................... 77% 3% 20% -- -- 100% 100% DFA Five-Year Global Fixed Income Portfolio........................... 47% 7% 46% -- -- 100% 1% DFA World ex U.S. Government Fixed Income Portfolio.............. 99% 1% -- -- -- 100% -- DFA Intermediate Government Fixed Income Portfolio.................... 100% -- -- -- -- 100% 100% DFA Short-Term Extended Quality Portfolio........................... 89% 1% 10% -- -- 100% 1% DFA Intermediate-Term Extended Quality Portfolio................... 99% -- 1% -- -- 100% 3% DFA Investment Grade Portfolio....... 99% -- 1% -- -- 100% -- DFA Inflation-Protected Securities Portfolio........................... 100% -- -- -- -- 100% 90% DFA Short-Duration Real Return Portfolio........................... 100% -- -- -- -- 100% 6% DFA Short-Term Municipal Bond Portfolio........................... -- -- -- -- 100% 100% -- DFA 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 One-Year Fixed Income Portfolio........................... -- -- 100% 100% DFA Two-Year Global Fixed Income Portfolio........................... -- 100% 100% 100% DFA Selectively Hedged Global Fixed Income Portfolio.................... -- 100% 100% 100% DFA Short-Term Government Portfolio........................... -- -- 100% 100% DFA Five-Year Global Fixed Income Portfolio........................... -- 100% 100% 100% DFA World ex U.S. Government Fixed Income Portfolio.............. -- 100% 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-Duration Real Return Portfolio........................... -- -- 100% 100% DFA Short-Term Municipal Bond Portfolio........................... -- -- 100% 100% DFA Intermediate-Term Municipal Bond Portfolio...................... -- -- 100% 100% 158 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 Short-Term Municipal Bond Portfolio...................... -- -- -- -- 100% 100% -- 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 Short-Term Municipal Bond Portfolio...................... -- -- 100% 100% 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. (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). 159 [LOGO] DFA103114-024A [LOGO] ANNUAL REPORT --------------------------------------------------- year ended: October 31, 2014 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 2014 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 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. 54 Fund Management............................................ 55 Voting Proxies on Fund Portfolio Securities................ 66 Notice to Shareholders..................................... 67 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 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, 2014 [CHART] U.S. Social Core Equity Russell 3000(R) Index 2 Portfolio ----------------------- ------------------ 10/01/07 10,000 10,000 10/31/07 9,930 10,042 11/30/07 9,330 9,590 12/31/07 9,238 9,532 1/31/08 8,777 8,954 2/29/08 8,516 8,676 3/31/08 8,498 8,625 4/30/08 8,951 9,056 5/31/08 9,202 9,242 6/30/08 8,366 8,479 7/31/08 8,315 8,411 8/31/08 8,497 8,542 9/30/08 7,718 7,739 10/31/08 6,207 6,366 11/30/08 5,578 5,864 12/31/08 5,714 5,976 1/31/09 5,099 5,474 2/28/09 4,505 4,901 3/31/09 4,976 5,330 4/30/09 5,706 5,891 5/31/09 5,963 6,205 6/30/09 5,932 6,226 7/31/09 6,479 6,711 8/31/09 6,737 6,951 9/30/09 7,085 7,242 10/31/09 6,796 7,056 11/30/09 7,075 7,457 12/31/09 7,409 7,669 1/31/10 7,118 7,393 2/28/10 7,451 7,643 3/31/10 8,003 8,125 4/30/10 8,336 8,301 5/31/10 7,659 7,645 6/30/10 7,099 7,205 7/31/10 7,631 7,706 8/31/10 7,141 7,343 9/30/10 7,913 8,036 10/31/10 8,206 8,350 11/30/10 8,384 8,398 12/31/10 9,075 8,968 1/31/11 9,254 9,164 2/28/11 9,706 9,497 3/31/11 9,830 9,540 4/30/11 10,030 9,824 5/31/11 9,840 9,712 6/30/11 9,655 9,537 7/31/11 9,337 9,319 8/31/11 8,597 8,760 9/30/11 7,735 8,080 10/31/11 8,827 9,010 11/30/11 8,796 8,986 12/31/11 8,835 9,060 1/31/12 9,326 9,517 2/29/12 9,742 9,919 3/31/12 9,972 10,225 4/30/12 9,865 10,158 5/31/12 9,149 9,530 6/30/12 9,470 9,904 7/31/12 9,513 10,002 8/31/12 9,824 10,251 9/30/12 10,106 10,521 10/31/12 10,031 10,339 11/30/12 10,117 10,419 12/31/12 10,381 10,547 1/31/13 11,050 11,126 2/28/13 11,182 11,273 3/31/13 11,644 11,715 4/30/13 11,688 11,907 5/31/13 12,150 12,187 6/30/13 12,028 12,029 7/31/13 12,734 12,689 8/31/13 12,337 12,334 9/30/13 12,857 12,793 10/31/13 13,389 13,336 11/30/13 13,831 13,723 12/31/13 14,231 14,085 1/31/14 13,620 13,640 2/28/14 14,242 14,287 3/31/14 14,444 14,363 4/30/14 14,376 14,381 5/31/14 14,626 14,695 6/30/14 15,123 15,063 7/31/14 14,691 14,766 Past performance is not predictive of 8/31/14 15,283 15,385 future performance. 9/30/14 14,731 15,065 The returns shown do not reflect the 10/31/14 15,062 15,479 deduction of taxes that a shareholder would pay on fund distributions or the Average Annual One Five Since redemption of fund shares. Total Return Year Years Inception Russell data copyright (C) Russell -------------------------------------------------------- Investment Group 1995-2014, all rights 12.50% 17.26% 5.95% reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- U.S. SUSTAINABILITY CORE 1 PORTFOLIO VS. RUSSELL 3000(R) INDEX March 12, 2008-October 31, 2014 [CHART] U.S. Sustainability Russell 3000(R) Index Core 1 Portfolio ------------------- ------------------ 3/12/08 10,000 10,000 3/31/08 10,190 10,127 4/30/08 10,650 10,633 5/31/08 10,910 10,851 6/30/08 10,056 9,955 7/31/08 10,006 9,876 8/31/08 10,217 10,029 9/30/08 9,270 9,086 10/31/08 7,438 7,475 11/30/08 6,794 6,885 12/31/08 6,955 7,016 1/31/09 6,315 6,427 2/28/09 5,615 5,754 3/31/09 6,162 6,258 4/30/09 6,948 6,917 5/31/09 7,305 7,286 6/30/09 7,326 7,311 7/31/09 7,951 7,880 8/31/09 8,259 8,161 9/30/09 8,680 8,503 10/31/09 8,382 8,284 11/30/09 8,783 8,755 12/31/09 9,136 9,005 1/31/10 8,836 8,680 2/28/10 9,177 8,974 3/31/10 9,785 9,540 4/30/10 10,106 9,746 5/31/10 9,288 8,976 6/30/10 8,694 8,460 7/31/10 9,286 9,047 8/31/10 8,756 8,621 9/30/10 9,632 9,435 10/31/10 9,987 9,804 11/30/10 10,112 9,861 12/31/10 10,843 10,529 1/31/11 11,063 10,759 2/28/11 11,503 11,151 3/31/11 11,620 11,201 4/30/11 11,914 11,534 5/31/11 11,746 11,403 6/30/11 11,543 11,198 7/31/11 11,237 10,942 8/31/11 10,457 10,285 9/30/11 9,522 9,487 10/31/11 10,717 10,579 11/30/11 10,707 10,550 12/31/11 10,771 10,637 1/31/12 11,356 11,174 2/29/12 11,867 11,647 3/31/12 12,167 12,006 4/30/12 12,050 11,927 5/31/12 11,239 11,190 6/30/12 11,649 11,628 7/31/12 11,734 11,743 8/31/12 12,098 12,036 9/30/12 12,444 12,352 10/31/12 12,282 12,139 11/30/12 12,390 12,233 12/31/12 12,608 12,383 1/31/13 13,380 13,063 2/28/13 13,543 13,236 3/31/13 14,107 13,755 4/30/13 14,249 13,980 5/31/13 14,728 14,309 6/30/13 14,561 14,124 7/31/13 15,436 14,898 8/31/13 14,998 14,482 9/30/13 15,614 15,020 10/31/13 16,262 15,658 11/30/13 16,778 16,113 12/31/13 17,233 16,538 1/31/14 16,633 16,016 2/28/14 17,422 16,775 3/31/14 17,551 16,864 4/30/14 17,506 16,885 5/31/14 17,862 17,253 6/30/14 18,393 17,686 7/31/14 17,935 17,337 Past performance is not predictive of 8/31/14 18,706 18,064 future performance. 9/30/14 18,186 17,688 The returns shown do not reflect the 10/31/14 18,646 18,174 deduction of taxes that a shareholder would pay on fund distributions or the Average Annual One Five Since redemption of fund shares. Total Return Year Years Inception Russell data copyright (C) Russell ------------------------------------------------------- Investment Group 1995-2014, all rights 14.66% 17.34% 9.84% 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, 2014 [CHART] International Sustainability MSCI World ex USA Core 1 Portfolio Index (net div.) ---------------------------- ----------------- 3/12/08 10,000 10,000 3/31/08 10,110 10,013 4/30/08 10,500 10,570 5/31/08 10,680 10,730 6/30/08 9,760 9,896 7/31/08 9,386 9,544 8/31/08 9,062 9,175 9/30/08 7,852 7,850 10/31/08 6,087 6,217 11/30/08 5,752 5,880 12/31/08 6,182 6,190 1/31/09 5,477 5,612 2/28/09 4,915 5,044 3/31/09 5,314 5,377 4/30/09 6,052 6,070 5/31/09 6,912 6,838 6/30/09 6,840 6,767 7/31/09 7,482 7,402 8/31/09 7,887 7,757 9/30/09 8,257 8,077 10/31/09 8,008 7,947 11/30/09 8,226 8,144 12/31/09 8,342 8,274 1/31/10 7,986 7,886 2/28/10 7,986 7,878 3/31/10 8,562 8,385 4/30/10 8,478 8,260 5/31/10 7,494 7,349 6/30/10 7,373 7,242 7/31/10 8,125 7,912 8/31/10 7,807 7,675 9/30/10 8,604 8,411 10/31/10 8,912 8,711 11/30/10 8,540 8,342 12/31/10 9,304 9,014 1/31/11 9,518 9,208 2/28/11 9,871 9,550 3/31/11 9,691 9,358 4/30/11 10,216 9,868 5/31/11 9,938 9,575 6/30/11 9,762 9,439 7/31/11 9,534 9,283 8/31/11 8,687 8,498 9/30/11 7,720 7,645 10/31/11 8,429 8,389 11/30/11 8,189 8,001 12/31/11 7,998 7,914 1/31/12 8,526 8,341 2/29/12 8,955 8,799 3/31/12 8,962 8,734 4/30/12 8,774 8,586 5/31/12 7,771 7,607 6/30/12 8,250 8,106 7/31/12 8,227 8,207 8/31/12 8,507 8,441 9/30/12 8,776 8,697 10/31/12 8,866 8,758 11/30/12 9,057 8,942 12/31/12 9,445 9,212 1/31/13 9,841 9,665 2/28/13 9,728 9,569 3/31/13 9,852 9,645 4/30/13 10,260 10,084 5/31/13 10,045 9,858 6/30/13 9,766 9,489 7/31/13 10,317 9,994 8/31/13 10,191 9,865 9/30/13 10,959 10,562 10/31/13 11,294 10,917 11/30/13 11,363 10,984 12/31/13 11,584 11,149 1/31/14 11,142 10,699 2/28/14 11,793 11,283 3/31/14 11,765 11,232 4/30/14 11,894 11,410 5/31/14 12,046 11,586 6/30/14 12,216 11,751 7/31/14 11,896 11,541 8/31/14 11,944 11,550 Past performance is not predictive of 9/30/14 11,400 11,076 future performance. 10/31/14 11,245 10,900 The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Since would pay on fund distributions or the Total Return Year Years Inception redemption of fund shares. ------------------------------------------------------- MSCI data copyright MSCI 2014, all -0.43% 7.03% 1.78% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- DFA INTERNATIONAL VALUE EX TOBACCO PORTFOLIO VS. MSCI WORLD EX USA INDEX (NET DIVIDENDS) June 30, 2008-October 31, 2014 [CHART] DFA International Value MSCI World ex USA Ex Tobacco Portfolio Index (net div.) ----------------------- ----------------- 6/30/08 10,000 10,000 7/31/08 9,840 9,644 8/31/08 9,530 9,271 9/30/08 8,400 7,933 10/31/08 6,353 6,282 11/30/08 6,021 5,942 12/31/08 6,471 6,255 1/31/09 5,553 5,671 2/28/09 4,856 5,097 3/31/09 5,342 5,433 4/30/09 6,313 6,134 5/31/09 7,204 6,909 6/30/09 7,153 6,838 7/31/09 7,975 7,480 8/31/09 8,417 7,838 9/30/09 8,858 8,162 10/31/09 8,496 8,031 11/30/09 8,713 8,230 12/31/09 8,810 8,361 1/31/10 8,343 7,969 2/28/10 8,384 7,961 3/31/10 9,050 8,473 4/30/10 8,925 8,347 5/31/10 7,865 7,426 6/30/10 7,723 7,318 7/31/10 8,651 7,995 8/31/10 8,218 7,756 9/30/10 9,081 8,500 10/31/10 9,388 8,803 11/30/10 8,922 8,430 12/31/10 9,758 9,109 1/31/11 10,184 9,305 2/28/11 10,503 9,650 3/31/11 10,198 9,457 4/30/11 10,710 9,972 5/31/11 10,294 9,676 6/30/11 10,132 9,538 7/31/11 9,817 9,381 8/31/11 8,766 8,588 9/30/11 7,871 7,725 10/31/11 8,602 8,477 11/30/11 8,351 8,085 12/31/11 8,125 7,997 1/31/12 8,664 8,429 2/29/12 9,137 8,892 3/31/12 9,055 8,826 4/30/12 8,702 8,676 5/31/12 7,610 7,687 6/30/12 8,159 8,191 7/31/12 8,114 8,293 8/31/12 8,429 8,529 9/30/12 8,724 8,788 10/31/12 8,826 8,850 11/30/12 8,950 9,036 12/31/12 9,418 9,309 1/31/13 9,861 9,767 2/28/13 9,565 9,670 3/31/13 9,605 9,746 4/30/13 10,072 10,190 5/31/13 9,913 9,962 6/30/13 9,564 9,589 7/31/13 10,201 10,099 8/31/13 10,143 9,969 9/30/13 10,904 10,673 10/31/13 11,277 11,032 11/30/13 11,312 11,099 12/31/13 11,557 11,266 1/31/14 11,146 10,812 2/28/14 11,781 11,402 3/31/14 11,711 11,350 4/30/14 11,902 11,530 5/31/14 12,033 11,708 6/30/14 12,200 11,874 7/31/14 11,898 11,662 8/31/14 11,898 11,672 Past performance is not predictive of 9/30/14 11,365 11,193 future performance. 10/31/14 11,158 11,015 The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Since would pay on fund distributions or the Total Return Year Years Inception redemption of fund shares. ----------------------------------------------------- MSCI data copyright MSCI 2014, all -1.05% 5.60% 1.74% 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, 2014 [CHART] International Social Core MSCI World ex USA Equity Portfolio Index (net dividends) ------------------------- --------------------- 11/01/12 10,000 10,000 11/30/12 10,070 10,146 12/31/12 10,534 10,452 1/31/13 10,969 10,966 2/28/13 10,828 10,857 3/31/13 10,939 10,943 4/30/13 11,394 11,442 5/31/13 11,091 11,185 6/30/13 10,755 10,766 7/31/13 11,408 11,339 8/31/13 11,316 11,193 9/30/13 12,152 11,984 10/31/13 12,581 12,386 11/30/13 12,622 12,462 12/31/13 12,889 12,650 1/31/14 12,455 12,139 2/28/14 13,188 12,802 3/31/14 13,158 12,744 4/30/14 13,303 12,945 5/31/14 13,438 13,145 6/30/14 13,658 13,332 7/31/14 13,290 13,094 8/31/14 13,321 13,105 Past performance is not predictive of 9/30/14 12,605 12,567 future performance. 10/31/14 12,405 12,367 The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Since would pay on fund distributions or the Total Return Year Inception redemption of fund shares. ------------------------------------------------------ MSCI data copyright MSCI 2014, all -1.40% 11.39% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO VS. MSCI EMERGING MARKETS INDEX (NET DIVIDENDS) August 31, 2006-October 31, 2014 [CHART] Emerging Markets Social MSCI Emerging Markets Core Equity Portfolio Index (net div.) ----------------------- --------------------- 8/31/06 10,000 10,000 9/30/06 10,020 10,083 10/31/06 10,690 10,562 11/30/06 11,460 11,347 12/31/06 11,920 11,858 1/31/07 12,110 11,730 2/28/07 12,010 11,661 3/31/07 12,552 12,125 4/30/07 13,394 12,686 5/31/07 14,406 13,315 6/30/07 14,722 13,939 7/31/07 15,247 14,674 8/31/07 14,833 14,363 9/30/07 16,140 15,949 10/31/07 17,825 17,727 11/30/07 16,516 16,471 12/31/07 16,464 16,528 1/31/08 14,854 14,466 2/29/08 15,391 15,534 3/31/08 14,872 14,712 4/30/08 15,837 15,905 5/31/08 15,958 16,201 6/30/08 14,185 14,585 7/31/08 13,942 14,035 8/31/08 12,991 12,914 9/30/08 10,870 10,654 10/31/08 7,734 7,738 11/30/08 7,176 7,155 12/31/08 7,903 7,714 1/31/09 7,206 7,215 2/28/09 6,678 6,808 3/31/09 7,716 7,787 4/30/09 9,147 9,083 5/31/09 10,949 10,635 6/30/09 10,849 10,491 7/31/09 12,177 11,671 8/31/09 12,279 11,629 9/30/09 13,355 12,685 10/31/09 13,116 12,701 11/30/09 13,937 13,246 12/31/09 14,530 13,769 1/31/10 13,729 13,001 2/28/10 13,866 13,047 3/31/10 15,119 14,100 4/30/10 15,268 14,271 5/31/10 13,734 13,016 6/30/10 13,820 12,920 7/31/10 15,099 13,996 8/31/10 14,880 13,724 9/30/10 16,648 15,250 10/31/10 17,134 15,692 11/30/10 16,694 15,278 12/31/10 17,932 16,368 1/31/11 17,397 15,924 2/28/11 17,118 15,776 3/31/11 18,078 16,703 4/30/11 18,746 17,221 5/31/11 18,199 16,770 6/30/11 17,928 16,512 7/31/11 17,867 16,438 8/31/11 16,271 14,969 9/30/11 13,485 12,787 10/31/11 15,199 14,481 11/30/11 14,545 13,516 12/31/11 14,118 13,353 1/31/12 15,768 14,867 2/29/12 16,823 15,758 3/31/12 16,289 15,232 4/30/12 15,880 15,050 5/31/12 14,205 13,362 6/30/12 14,847 13,878 7/31/12 14,834 14,148 8/31/12 14,971 14,101 9/30/12 15,842 14,952 10/31/12 15,717 14,861 11/30/12 15,942 15,050 12/31/12 16,993 15,786 1/31/13 17,135 16,004 2/28/13 17,018 15,803 3/31/13 16,806 15,530 4/30/13 16,961 15,647 5/31/13 16,470 15,246 6/30/13 15,244 14,275 7/31/13 15,466 14,425 8/31/13 15,101 14,177 9/30/13 16,199 15,099 10/31/13 16,933 15,832 11/30/13 16,631 15,601 12/31/13 16,457 15,375 1/31/14 15,376 14,377 2/28/14 15,930 14,853 3/31/14 16,497 15,309 4/30/14 16,615 15,360 5/31/14 17,156 15,896 6/30/14 17,595 16,319 7/31/14 17,754 16,634 8/31/14 18,257 17,009 Past performance is not predictive of 9/30/14 17,018 15,748 future performance. 10/31/14 17,098 15,934 The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Since would pay on fund distributions or the Total Return Year Years Inception redemption of fund shares. ----------------------------------------------------- MSCI data copyright MSCI 2014, all 0.98% 5.45% 6.79% rights reserved. -------------------------------------------------------------------------------- 4 DFA INVESTMENT DIMENSIONS GROUP INC. MANAGEMENT'S DISCUSSION AND ANALYSIS (Unaudited) U.S. Equity Market Review 12 Months Ended October 31, 2014 U.S. equities had strong gains during the period. The broad U.S. equity market, as measured by the Russell 3000(R) Index, had positive returns in 9 of the 12 months. As measured by the Russell indices, large cap stocks outperformed small cap stocks. Total Return for 12 Months Ended October 31, 2014 ------------------------------------------------- Russell 3000(R) Index........................ 16.07% Russell Microcap(R) Index (micro cap stocks). 7.34% Russell 2000(R) Index (small cap stocks)..... 8.06% Russell 1000(R) Index (large cap stocks)..... 16.78% Dow Jones U.S. Select REIT Index/SM/......... 20.69% Growth stocks slightly outperformed value stocks as measured by the Russell indices. Total Return for 12 Months Ended October 31, 2014 ------------------------------------------------- Russell 2000(R) Value Index (small cap value stocks)... 7.89% Russell 2000(R) Growth Index (small cap growth stocks). 8.26% Russell 1000(R) Value Index (large cap value stocks)... 16.46% Russell 1000(R) Growth Index (large cap growth stocks). 17.11% ---------- Source: Russell data copyright (C) Russell Investment Group 1995-2014, 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 period 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 invests in a broadly diversified group of U.S. equity securities with increased exposure to smaller company stocks and value stocks relative to the market. Value is measured primarily by book-to-market ratio. 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, 2014, 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, 2014, total returns were 12.50% for the Portfolio and 16.07% for the Russell 3000(R) Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio had a greater allocation than the Index to small cap stocks and less weight in large cap stocks, which detracted from the Portfolio's relative performance as small cap stocks strongly underperformed large cap stocks 5 during the period. The Portfolio's exclusion of REITs also detracted from the Portfolio's relative performance as REITs outperformed most other sectors during the period. U.S. Sustainability Core 1 Portfolio The U.S. Sustainability Core Equity 1 Portfolio invests in a broadly diversified group of U.S. equity securities, with increased exposure to smaller company stocks and value stocks relative to the market. Value is measured primarily by book-to-market ratio. The Portfolio further adjusts the weights of all eligible companies based on environmental impact ratings calculated by a third-party provider. Accordingly, the Portfolio seeks to exclude or decrease the weights of securities of companies that are deemed to have a relative negative impact on the environment and to increase the weights of securities of companies that are deemed to have a relative positive impact on the environment. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2014, the Portfolio held approximately 2,340 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, 2014, total returns were 14.66% for the Portfolio and 16.07% for the Russell 3000(R) Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio had a greater allocation than the Index to small cap stocks and less weight in large cap stocks, which contributed to the Portfolio's relative underperformance as small cap stocks strongly underperformed large cap stocks during the period. The Portfolio's exclusion of real estate investment trusts (REITs) also contributed to the Portfolio's relative underperformance as REITs outperformed most other sectors during the period. International Equity Market Review 12 Months Ended October 31, 2014 Performance of non-U.S. developed markets was generally negative for the period. Only large cap growth stocks had positive returns. As measured by the MSCI world ex USA indices, large cap stocks outperformed small cap stocks, and growth stocks outperformed value stocks. 12 Months Ended October 31, 2014 -------------------------------- Return in U.S. Dollars ---------------------- MSCI World ex USA Index........... -0.15% MSCI World ex USA Small Cap Index. -2.14% MSCI World ex USA Value Index..... -0.62% MSCI World ex USA Growth Index.... 0.31% During the period, the U.S. dollar (USD) appreciated against developed markets currencies, detracting from USD-denominated returns of non-U.S. securities in developed markets. 12 Months Ended October 31, 2014 -------------------------------- Ten Largest Foreign Developed Markets by Market Cap Local Return Return in U.S. Dollars --------------------------------------------------- ------------ ---------------------- United Kingdom.................... 0.55% 0.12% Japan............................. 13.47% -0.70% Canada............................ 12.71% 4.26% France............................ 1.34% -6.61% Switzerland....................... 9.61% 3.13% Germany........................... 2.52% -5.52% Australia......................... 6.74% -0.92% Spain............................. 10.44% 1.78% Hong Kong......................... 10.24% 10.21% Sweden............................ 13.18% -1.03% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2014, all rights reserved. 6 Emerging markets generally had stronger performance over the period than developed markets with positive returns in each market segment except large cap value. As measured by the MSCI emerging markets indices, small cap stocks outperformed large cap stocks, and growth stocks outperformed value stocks. 12 Months Ended October 31, 2014 -------------------------------- Return in U.S. Dollars ---------------------- MSCI Emerging Markets Index........... 0.64% MSCI Emerging Markets Small Cap Index. 3.18% MSCI Emerging Markets Value Index..... -0.63% MSCI Emerging Markets Growth Index.... 1.89% During the period, the U.S. dollar (USD) generally appreciated against most emerging markets currencies, particularly those in Eastern Europe, decreasing USD denominated returns in emerging markets. 12 Months Ended October 31, 2014 -------------------------------- Ten Largest Emerging Markets by Market Cap Local Return Return in U.S. Dollars ------------------------------------------ ------------ ---------------------- China........................ 6.44% 6.41% Korea........................ -6.24% -6.94% Taiwan....................... 13.99% 10.11% Brazil....................... -0.30% -9.65% South Africa................. 17.13% 6.09% India........................ 29.27% 29.39% Mexico....................... 10.96% 6.98% Russia....................... -4.56% -24.40% Malaysia..................... 3.85% -0.37% Indonesia.................... 17.88% 9.95% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2014, all rights reserved. International Equity Portfolios' Performance Overview International Sustainability Core 1 Portfolio The International Sustainability Core 1 Portfolio invests in a broad universe of international stocks, with increased exposure to smaller company stocks and stocks with value characteristics as measured by book-to-market ratio. The Portfolio further adjusts the weights of companies based on environmental impact ratings calculated by a third-party provider. Accordingly, the Portfolio seeks to exclude or decrease the weights of securities of companies that are deemed to have a relative negative impact on the environment and to increase the weights of securities of companies that are deemed to have a relative positive impact on the environment. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2014, the Portfolio held approximately 2,900 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, 2014, total returns were -0.43% for the Portfolio and -0.15% 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 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 underperformed international large cap and mid-cap stocks during the period, and the Portfolio's exposure to small cap stocks detracted from the Portfolio's performance relative to the Index. The Portfolio's greater exposure than the Index to value stocks also detracted from the Portfolio's relative performance as value stocks generally underperformed during the period. In particular, the Portfolio's emphasis on value stocks resulted in a lower allocation to healthcare stocks, which was the best performing sector and detracted from the Portfolio's relative performance. 7 DFA International Value ex Tobacco Portfolio The International Value ex Tobacco Portfolio is designed 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, 2014, the Portfolio held approximately 410 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, 2014, total returns were -1.05% for the Portfolio and -0.15% 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 trends in the international equity markets rather than by the behavior of a limited number of stocks. The Portfolio had significantly greater exposure than the Index to value stocks. Value stocks, particularly those in Canada, generally underperformed the Index, which detracted from the Portfolio's relative performance. International Social Core Equity Portfolio The International Social Core Equity Portfolio invests in a broadly diversified basket of international stocks, with increased exposure to smaller company stocks and those with value characteristics as measured by book-to-market ratio. 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, 2014, the Portfolio held approximately 3,200 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, 2014, total returns were -1.40% for the Portfolio and -0.15% 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 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 underperformed international large cap and mid-cap stocks during the period, and the Portfolio's exposure to small cap stocks detracted from the Portfolio's performance relative to the Index. The Portfolio's greater exposure than the Index to value stocks also detracted from the Portfolio's relative performance as value stocks generally underperformed during the period. In particular, the Portfolio's emphasis on value stocks and the application of the Portfolio's social screens resulted in a lower allocation to healthcare stocks, which was the best performing sector and detracted from the Portfolio's relative performance. Emerging Markets Social Core Equity Portfolio The Emerging Markets Social Core Equity Portfolio invests in 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, 2014, the Portfolio held approximately 3,100 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, 2014, total returns were 0.98% for the Portfolio and 0.64% for the MSCI Emerging Markets Index (net dividends). As a result of the Portfolio's diversified investment approach, performance was determined principally by broad 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, particularly those in India, contributed to the Portfolio's relative outperformance. The Portfolio's smaller allocation than the Index to Russia, among the lowest performing emerging markets during the period, also contributed to the Portfolio's relative outperformance. 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, 2014 EXPENSE TABLES Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- U.S. Social Core Equity 2 Portfolio ----------------------------------- Actual Fund Return................... $1,000.00 $1,047.70 0.28% $1.45 Hypothetical 5% Annual Return........ $1,000.00 $1,023.79 0.28% $1.43 U.S. Sustainability Core 1 Portfolio ------------------------------------ Actual Fund Return................... $1,000.00 $1,065.10 0.32% $1.67 Hypothetical 5% Annual Return........ $1,000.00 $1,023.59 0.32% $1.63 9 DISCLOSURE OF FUND EXPENSES CONTINUED Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- International Sustainability Core 1 Portfolio --------------------------------------------- Actual Fund Return............................ $1,000.00 $ 945.50 0.50% $2.45 Hypothetical 5% Annual Return................. $1,000.00 $1,022.68 0.50% $2.55 DFA International Value ex Tobacco Portfolio -------------------------------------------- Actual Fund Return............................ $1,000.00 $ 937.50 0.55% $2.69 Hypothetical 5% Annual Return................. $1,000.00 $1,022.43 0.55% $2.80 International Social Core Equity Portfolio ------------------------------------------ Actual Fund Return............................ $1,000.00 $ 932.40 0.48% $2.34 Hypothetical 5% Annual Return................. $1,000.00 $1,022.79 0.48% $2.45 Emerging Markets Social Core Equity Portfolio --------------------------------------------- Actual Fund Return............................ $1,000.00 $1,029.00 0.64% $3.27 Hypothetical 5% Annual Return................. $1,000.00 $1,021.98 0.64% $3.26 ---------- * 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 29, 2014. 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 U.S. Social Core Equity 2 Portfolio Consumer Discretionary....................... 16.0% Consumer Staples............................. 5.5% Energy....................................... 13.2% Financials................................... 18.1% Health Care.................................. 2.6% Industrials.................................. 14.5% Information Technology....................... 18.7% Materials.................................... 5.9% Other........................................ -- Real Estate Investment Trusts................ -- Telecommunication Services................... 3.0% Utilities.................................... 2.5% ----- 100.0% U.S. Sustainability Core 1 Portfolio Consumer Discretionary....................... 14.6% Consumer Staples............................. 7.3% Energy....................................... 9.3% Financials................................... 14.5% Health Care.................................. 12.1% Industrials.................................. 12.7% Information Technology....................... 18.4% Materials.................................... 4.9% Other........................................ -- Real Estate Investment Trusts................ -- Telecommunication Services................... 3.1% Utilities.................................... 3.1% ----- 100.0% International Sustainability Core 1 Portfolio Consumer Discretionary....................... 13.1% Consumer Staples............................. 8.3% Energy....................................... 8.5% Financials................................... 23.9% Health Care.................................. 7.5% Industrials.................................. 14.8% Information Technology....................... 5.5% Materials.................................... 10.5% Other........................................ -- Telecommunication Services................... 4.0% Utilities.................................... 3.9% ----- 100.0% 11 DISCLOSURE OF PORTFOLIO HOLDINGS CONTINUED DFA International Value ex Tobacco Portfolio Consumer Discretionary....................... 11.4% Consumer Staples............................. 4.2% Energy....................................... 14.2% Financials................................... 34.9% Health Care.................................. 3.3% Industrials.................................. 8.9% Information Technology....................... 3.2% Materials.................................... 11.4% Other........................................ -- Telecommunication Services................... 5.3% Utilities.................................... 3.2% ----- 100.0% International Social Core Equity Portfolio Consumer Discretionary....................... 13.0% Consumer Staples............................. 5.9% Energy....................................... 10.0% Financials................................... 25.0% Health Care.................................. 2.8% Industrials.................................. 16.5% Information Technology....................... 5.6% Materials.................................... 12.3% Other........................................ -- Telecommunication Services................... 4.7% Utilities.................................... 4.2% ----- 100.0% Emerging Markets Social Core Equity Portfolio Consumer Discretionary....................... 10.6% Consumer Staples............................. 7.4% Energy....................................... 6.4% Financials................................... 26.2% Health Care.................................. 0.4% Industrials.................................. 9.8% Information Technology....................... 18.4% Materials.................................... 10.8% Other........................................ -- Real Estate Investment Trusts................ -- Telecommunication Services................... 5.4% Utilities.................................... 4.6% ----- 100.0% 12 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (88.4%) Consumer Discretionary -- (14.2%) Comcast Corp. Class A............. 77,893 $ 4,311,378 0.9% Ford Motor Co..................... 132,402 1,865,544 0.4% General Motors Co................. 41,004 1,287,526 0.3% Home Depot, Inc. (The)............ 13,137 1,281,120 0.3% McDonald's Corp................... 12,152 1,139,007 0.2% Target Corp....................... 18,179 1,123,826 0.2% Time Warner, Inc.................. 22,794 1,811,439 0.4% Walt Disney Co. (The)............. 24,765 2,263,026 0.5% Other Securities.................. 66,683,781 12.8% ----------- ------ Total Consumer Discretionary.......... 81,766,647 16.0% ----------- ------ Consumer Staples -- (4.9%) Coca-Cola Co. (The)............... 42,364 1,774,204 0.4% CVS Health Corp................... 31,331 2,688,513 0.5% PepsiCo, Inc...................... 19,470 1,872,430 0.4% Procter & Gamble Co. (The)........ 31,843 2,778,939 0.6% Walgreen Co....................... 18,804 1,207,593 0.2% Other Securities.................. 17,695,272 3.4% ----------- ------ Total Consumer Staples................ 28,016,951 5.5% ----------- ------ Energy -- (11.6%) Anadarko Petroleum Corp........... 19,543 1,793,657 0.4% Chevron Corp...................... 52,178 6,258,751 1.2% ConocoPhillips.................... 49,508 3,572,002 0.7% EOG Resources, Inc................ 25,313 2,406,001 0.5% Exxon Mobil Corp.................. 147,900 14,303,409 2.8% Kinder Morgan, Inc................ 30,978 1,198,849 0.2% Occidental Petroleum Corp......... 30,106 2,677,327 0.5% Other Securities.................. 34,936,403 6.9% ----------- ------ Total Energy.......................... 67,146,399 13.2% ----------- ------ Financials -- (16.0%) Bank of America Corp.............. 195,137 3,348,551 0.7% * Berkshire Hathaway, Inc. Class B.. 14,710 2,061,754 0.4% Citigroup, Inc.................... 55,197 2,954,695 0.6% Goldman Sachs Group, Inc. (The)... 7,864 1,494,081 0.3% JPMorgan Chase & Co............... 71,967 4,352,564 0.9% U.S. Bancorp...................... 43,752 1,863,835 0.4% Wells Fargo & Co.................. 120,281 6,385,718 1.3% Other Securities.................. 69,797,871 13.5% ----------- ------ Total Financials...................... 92,259,069 18.1% ----------- ------ Health Care -- (2.3%) Other Securities.................. 13,515,274 2.6% ----------- ------ Industrials -- (12.8%) 3M Co............................. 7,605 1,169,421 0.2% CSX Corp.......................... 37,963 1,352,622 0.3% FedEx Corp........................ 8,578 1,435,957 0.3% Southwest Airlines Co............. 38,606 1,331,135 0.3% Union Pacific Corp................ 30,954 3,604,593 0.7% * United Continental Holdings, Inc.. 24,322 1,284,445 0.3% 13 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Industrials -- (Continued) United Technologies Corp........................... 12,279 $ 1,313,853 0.3% Other Securities................................... 62,404,852 12.1% ------------ ------ Total Industrials........................................ 73,896,878 14.5% ------------ ------ Information Technology -- (16.5%) Apple, Inc......................................... 113,939 12,305,412 2.4% Cisco Systems, Inc................................. 115,349 2,822,590 0.6% EMC Corp........................................... 44,025 1,264,838 0.3% * Google, Inc. Class A............................... 2,213 1,256,696 0.3% * Google, Inc. Class C............................... 2,013 1,125,428 0.2% Hewlett-Packard Co................................. 86,129 3,090,309 0.6% Intel Corp......................................... 174,364 5,930,120 1.2% International Business Machines Corp............... 8,942 1,470,065 0.3% * Micron Technology, Inc............................. 46,607 1,542,226 0.3% Microsoft Corp..................................... 85,668 4,022,113 0.8% Oracle Corp........................................ 59,277 2,314,767 0.5% QUALCOMM, Inc...................................... 20,304 1,594,067 0.3% Other Securities................................... 56,697,781 10.9% ------------ ------ Total Information Technology............................. 95,436,412 18.7% ------------ ------ Materials -- (5.2%) Dow Chemical Co. (The)............................. 33,252 1,642,649 0.3% Freeport-McMoRan, Inc.............................. 41,691 1,188,193 0.2% Other Securities................................... 27,016,845 5.4% ------------ ------ Total Materials.......................................... 29,847,687 5.9% ------------ ------ Other -- (0.0%) Other Securities................................... -- 0.0% ------------ ------ Real Estate Investment Trusts -- (0.0%) Other Securities................................... 14,797 0.0% ------------ ------ Telecommunication Services -- (2.7%) AT&T, Inc.......................................... 207,036 7,213,134 1.4% Verizon Communications, Inc........................ 77,071 3,872,818 0.8% Other Securities................................... 4,243,375 0.8% ------------ ------ Total Telecommunication Services......................... 15,329,327 3.0% ------------ ------ Utilities -- (2.2%) Other Securities................................... 12,955,305 2.5% ------------ ------ TOTAL COMMON STOCKS...................................... 510,184,746 100.0% ------------ ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 3,184 0.0% ------------ ------ TEMPORARY CASH INVESTMENTS -- (0.2%) State Street Institutional Liquid Reserves, 0.077%. 1,346,847 1,346,847 0.3% ------------ ------ SECURITIES LENDING COLLATERAL -- (11.4%) (S)@ DFA Short Term Investment Fund..................... 5,658,399 65,467,672 12.8% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $427,613,332).................................. $577,002,449 113.1% ============ ====== 14 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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........ $ 81,766,647 -- -- $ 81,766,647 Consumer Staples.............. 28,016,951 -- -- 28,016,951 Energy........................ 67,146,399 -- -- 67,146,399 Financials.................... 92,259,069 -- -- 92,259,069 Health Care................... 13,515,274 -- -- 13,515,274 Industrials................... 73,896,878 -- -- 73,896,878 Information Technology........ 95,436,412 -- -- 95,436,412 Materials..................... 29,847,687 -- -- 29,847,687 Other......................... -- -- -- -- Real Estate Investment Trusts. 14,797 -- -- 14,797 Telecommunication Services.... 15,329,327 -- -- 15,329,327 Utilities..................... 12,955,305 -- -- 12,955,305 Rights/Warrants................. -- $ 3,184 -- 3,184 Temporary Cash Investments...... 1,346,847 -- -- 1,346,847 Securities Lending Collateral... -- 65,467,672 -- 65,467,672 ------------ ----------- -- ------------ TOTAL........................... $511,531,593 $65,470,856 -- $577,002,449 ============ =========== == ============ See accompanying Notes to Financial Statements. 15 U.S. SUSTAINABILITY CORE 1 PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (89.5%) Consumer Discretionary -- (13.1%) * Amazon.com, Inc................... 4,837 $ 1,477,510 0.4% Comcast Corp. Class A............. 53,277 2,948,882 0.7% Ford Motor Co..................... 97,323 1,371,281 0.3% Home Depot, Inc. (The)............ 25,280 2,465,306 0.6% NIKE, Inc. Class B................ 16,931 1,574,075 0.4% Time Warner, Inc.................. 22,360 1,776,949 0.4% Walt Disney Co. (The)............. 30,414 2,779,231 0.7% Other Securities.................. 47,503,307 11.0% ----------- ------ Total Consumer Discretionary.......... 61,896,541 14.5% ----------- ------ Consumer Staples -- (6.5%) Altria Group, Inc................. 64,455 3,115,755 0.7% Coca-Cola Co. (The)............... 34,630 1,450,304 0.3% CVS Health Corp................... 27,329 2,345,101 0.6% PepsiCo, Inc...................... 22,195 2,134,493 0.5% Philip Morris International, Inc.. 21,007 1,869,833 0.4% Procter & Gamble Co. (The)........ 30,971 2,702,839 0.6% Other Securities.................. 17,381,477 4.2% ----------- ------ Total Consumer Staples................ 30,999,802 7.3% ----------- ------ Energy -- (8.4%) Chevron Corp...................... 31,201 3,742,560 0.9% ConocoPhillips.................... 23,581 1,701,369 0.4% EOG Resources, Inc................ 16,200 1,539,810 0.4% Exxon Mobil Corp.................. 67,489 6,526,861 1.5% Schlumberger, Ltd................. 24,219 2,389,447 0.6% Other Securities.................. 23,733,824 5.5% ----------- ------ Total Energy.......................... 39,633,871 9.3% ----------- ------ Financials -- (12.9%) American Express Co............... 15,464 1,390,987 0.3% Bank of America Corp.............. 166,371 2,854,926 0.7% * Berkshire Hathaway, Inc. Class B.. 27,157 3,806,325 0.9% Citigroup, Inc.................... 37,413 2,002,718 0.5% Goldman Sachs Group, Inc. (The)... 7,931 1,506,811 0.4% JPMorgan Chase & Co............... 53,624 3,243,180 0.8% Wells Fargo & Co.................. 55,621 2,952,919 0.7% Other Securities.................. 43,644,858 10.1% ----------- ------ Total Financials...................... 61,402,724 14.4% ----------- ------ Health Care -- (10.8%) AbbVie, Inc....................... 21,341 1,354,300 0.3% * Biogen Idec, Inc.................. 5,573 1,789,379 0.4% * Celgene Corp...................... 16,184 1,733,145 0.4% * Gilead Sciences, Inc.............. 29,928 3,351,936 0.8% Johnson & Johnson................. 40,355 4,349,462 1.0% Merck & Co., Inc.................. 27,538 1,595,552 0.4% UnitedHealth Group, Inc........... 21,670 2,058,867 0.5% Other Securities.................. 35,122,955 8.2% ----------- ------ Total Health Care..................... 51,355,596 12.0% ----------- ------ 16 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Industrials -- (11.4%) Boeing Co. (The)................................... 13,884 $ 1,734,250 0.4% General Electric Co................................ 112,082 2,892,836 0.7% Lockheed Martin Corp............................... 7,523 1,433,658 0.3% United Technologies Corp........................... 14,503 1,551,821 0.4% Other Securities................................... 46,283,317 10.8% ------------ ------ Total Industrials........................................ 53,895,882 12.6% ------------ ------ Information Technology -- (16.4%) Apple, Inc......................................... 66,080 7,136,640 1.7% Cisco Systems, Inc................................. 101,037 2,472,375 0.6% * Facebook, Inc. Class A............................. 18,900 1,417,311 0.3% * Google, Inc. Class A............................... 2,813 1,597,418 0.4% * Google, Inc. Class C............................... 2,813 1,572,692 0.4% Hewlett-Packard Co................................. 57,086 2,048,246 0.5% Intel Corp......................................... 86,163 2,930,404 0.7% International Business Machines Corp............... 16,139 2,653,252 0.6% MasterCard, Inc. Class A........................... 19,636 1,644,515 0.4% Microsoft Corp..................................... 134,092 6,295,619 1.5% Oracle Corp........................................ 61,587 2,404,972 0.6% QUALCOMM, Inc...................................... 23,683 1,859,352 0.4% Other Securities................................... 43,960,225 10.2% ------------ ------ Total Information Technology............................. 77,993,021 18.3% ------------ ------ Materials -- (4.4%) Other Securities................................... 20,684,406 4.8% ------------ ------ Real Estate Investment Trusts -- (0.0%) Other Securities................................... 11,461 0.0% ------------ ------ Telecommunication Services -- (2.8%) AT&T, Inc.......................................... 169,537 5,906,669 1.4% Verizon Communications, Inc........................ 78,613 3,950,303 0.9% Other Securities................................... 3,314,819 0.8% ------------ ------ Total Telecommunication Services......................... 13,171,791 3.1% ------------ ------ Utilities -- (2.8%) Other Securities................................... 13,165,332 3.1% ------------ ------ TOTAL COMMON STOCKS...................................... 424,210,427 99.4% ------------ ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 4,963 0.0% ------------ ------ TEMPORARY CASH INVESTMENTS -- (0.6%) State Street Institutional Liquid Reserves, 0.077%. 2,860,856 2,860,856 0.7% ------------ ------ SECURITIES LENDING COLLATERAL -- (9.9%) (S)@ DFA Short Term Investment Fund..................... 4,041,010 46,754,484 11.0% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $337,264,580).................................. $473,830,730 111.1% ============ ====== 17 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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........ $ 61,896,541 -- -- $ 61,896,541 Consumer Staples.............. 30,999,802 -- -- 30,999,802 Energy........................ 39,633,871 -- -- 39,633,871 Financials.................... 61,402,446 $ 278 -- 61,402,724 Health Care................... 51,353,886 1,710 -- 51,355,596 Industrials................... 53,895,882 -- -- 53,895,882 Information Technology........ 77,993,021 -- -- 77,993,021 Materials..................... 20,684,406 -- -- 20,684,406 Real Estate Investment Trusts. 11,461 -- -- 11,461 Telecommunication Services.... 13,171,791 -- -- 13,171,791 Utilities..................... 13,165,332 -- -- 13,165,332 Rights/Warrants................. -- 4,963 -- 4,963 Temporary Cash Investments...... 2,860,856 -- -- 2,860,856 Securities Lending Collateral... -- 46,754,484 -- 46,754,484 ------------ ----------- -- ------------ TOTAL........................... $427,069,295 $46,761,435 -- $473,830,730 ============ =========== == ============ See accompanying Notes to Financial Statements. 18 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (92.7%) AUSTRALIA -- (5.9%) # Australia & New Zealand Banking Group, Ltd.... 40,877 $ 1,209,574 0.4% National Australia Bank, Ltd.................. 46,915 1,451,351 0.5% # Wesfarmers, Ltd............................... 23,004 895,262 0.3% Woodside Petroleum, Ltd....................... 27,355 971,659 0.3% Other Securities.............................. 16,036,502 4.8% ----------- ---- TOTAL AUSTRALIA................................... 20,564,348 6.3% ----------- ---- AUSTRIA -- (0.4%) Other Securities.............................. 1,362,018 0.4% ----------- ---- BELGIUM -- (1.3%) Anheuser-Busch InBev NV....................... 9,765 1,082,884 0.3% Other Securities.............................. 3,662,125 1.1% ----------- ---- TOTAL BELGIUM..................................... 4,745,009 1.4% ----------- ---- CANADA -- (8.9%) Royal Bank of Canada.......................... 12,404 880,568 0.3% # Toronto-Dominion Bank (The)................... 18,040 887,874 0.3% Other Securities.............................. 29,260,361 8.9% ----------- ---- TOTAL CANADA...................................... 31,028,803 9.5% ----------- ---- CHINA -- (0.0%) Other Securities.............................. 903 0.0% ----------- ---- DENMARK -- (1.5%) Other Securities.............................. 5,250,205 1.6% ----------- ---- FINLAND -- (1.4%) Other Securities.............................. 4,825,357 1.5% ----------- ---- FRANCE -- (8.1%) BNP Paribas SA................................ 19,968 1,254,830 0.4% GDF Suez...................................... 37,769 917,028 0.3% Renault SA.................................... 11,532 857,822 0.3% Sanofi........................................ 12,090 1,097,047 0.3% Schneider Electric SE......................... 13,316 1,049,116 0.3% Total SA...................................... 28,026 1,673,243 0.5% Other Securities.............................. 21,485,866 6.5% ----------- ---- TOTAL FRANCE...................................... 28,334,952 8.6% ----------- ---- GERMANY -- (6.4%) Allianz SE.................................... 6,463 1,027,760 0.3% BASF SE....................................... 16,282 1,438,680 0.5% Bayer AG...................................... 9,539 1,364,285 0.4% Daimler AG.................................... 15,434 1,203,373 0.4% Muenchener Rueckversicherungs-Gesellschaft AG. 4,264 839,530 0.3% Other Securities.............................. 16,420,283 4.9% ----------- ---- TOTAL GERMANY..................................... 22,293,911 6.8% ----------- ---- GREECE -- (0.0%) Other Securities.............................. -- 0.0% ----------- ---- 19 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- HONG KONG -- (2.2%) AIA Group, Ltd........................ 178,400 $ 995,548 0.3% Other Securities...................... 6,848,616 2.1% ----------- ----- TOTAL HONG KONG........................... 7,844,164 2.4% ----------- ----- IRELAND -- (0.4%) Other Securities...................... 1,377,341 0.4% ----------- ----- ISRAEL -- (0.5%) Other Securities...................... 1,726,091 0.5% ----------- ----- ITALY -- (2.3%) Eni SpA............................... 42,371 902,710 0.3% UniCredit SpA......................... 118,476 858,089 0.3% Other Securities...................... 6,305,539 1.9% ----------- ----- TOTAL ITALY............................... 8,066,338 2.5% ----------- ----- JAPAN -- (19.0%) Mitsubishi UFJ Financial Group, Inc... 184,100 1,073,158 0.3% Softbank Corp......................... 11,584 843,338 0.3% Sumitomo Mitsui Financial Group, Inc.. 20,800 848,284 0.3% Toyota Motor Corp..................... 22,255 1,339,243 0.4% Toyota Motor Corp. Sponsored ADR...... 11,495 1,394,918 0.4% Other Securities...................... 60,970,505 18.6% ----------- ----- TOTAL JAPAN............................... 66,469,446 20.3% ----------- ----- NETHERLANDS -- (2.5%) #* ING Groep NV Sponsored ADR............ 56,475 808,722 0.3% Other Securities...................... 8,014,543 2.4% ----------- ----- TOTAL NETHERLANDS......................... 8,823,265 2.7% ----------- ----- NEW ZEALAND -- (0.2%) Other Securities...................... 797,318 0.2% ----------- ----- NORWAY -- (0.9%) Other Securities...................... 3,162,180 1.0% ----------- ----- PORTUGAL -- (0.3%) Other Securities...................... 1,113,934 0.3% ----------- ----- SINGAPORE -- (1.3%) Other Securities...................... 4,424,343 1.3% ----------- ----- SPAIN -- (2.8%) Banco Santander SA.................... 144,846 1,279,790 0.4% Telefonica SA......................... 59,159 890,206 0.3% Other Securities...................... 7,529,110 2.3% ----------- ----- TOTAL SPAIN............................... 9,699,106 3.0% ----------- ----- SWEDEN -- (3.2%) Other Securities...................... 11,178,990 3.4% ----------- ----- SWITZERLAND -- (6.5%) Nestle SA............................. 33,974 2,491,453 0.8% Novartis AG........................... 10,302 956,055 0.3% Novartis AG ADR....................... 20,867 1,934,162 0.6% Roche Holding AG...................... 9,854 2,907,929 0.9% 20 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- SWITZERLAND -- (Continued) Swiss Re AG................................... 11,143 $ 901,032 0.3% Zurich Insurance Group AG..................... 3,698 1,119,120 0.4% Other Securities.............................. 12,439,183 3.6% ------------ ----- TOTAL SWITZERLAND................................. 22,748,934 6.9% ------------ ----- UNITED KINGDOM -- (16.7%) AstraZeneca P.L.C. Sponsored ADR.............. 15,356 1,120,067 0.4% # Barclays P.L.C. Sponsored ADR................. 61,066 940,416 0.3% BG Group P.L.C................................ 65,877 1,097,908 0.3% BP P.L.C. Sponsored ADR....................... 77,785 3,380,536 1.0% # British American Tobacco P.L.C. Sponsored ADR. 9,620 1,092,447 0.3% GlaxoSmithKline P.L.C. Sponsored ADR.......... 18,679 849,708 0.3% Glencore P.L.C................................ 166,388 853,676 0.3% HSBC Holdings P.L.C. Sponsored ADR............ 49,104 2,505,286 0.8% Imperial Tobacco Group P.L.C.................. 24,241 1,053,073 0.3% * Lloyds Banking Group P.L.C.................... 820,267 1,012,939 0.3% Reckitt Benckiser Group P.L.C................. 13,473 1,134,743 0.4% Royal Dutch Shell P.L.C. ADR(780259107)....... 21,316 1,591,666 0.5% Royal Dutch Shell P.L.C. ADR(780259206)....... 16,936 1,215,835 0.4% SSE P.L.C..................................... 32,118 823,216 0.3% Vodafone Group P.L.C. Sponsored ADR........... 26,423 877,778 0.3% Other Securities.............................. 38,693,795 11.6% ------------ ----- TOTAL UNITED KINGDOM.............................. 58,243,089 17.8% ------------ ----- UNITED STATES -- (0.0%) Other Securities.............................. 22,116 0.0% ------------ ----- TOTAL COMMON STOCKS............................... 324,102,161 98.8% ------------ ----- PREFERRED STOCKS -- (0.1%) GERMANY -- (0.1%) Other Securities.............................. 174,981 0.1% ------------ ----- UNITED KINGDOM -- (0.0%) Other Securities.............................. 4,795 0.0% ------------ ----- TOTAL PREFERRED STOCKS............................ 179,776 0.1% ------------ ----- RIGHTS/WARRANTS -- (0.0%) AUSTRIA -- (0.0%) Other Securities.............................. -- 0.0% ------------ ----- FRANCE -- (0.0%) Other Securities.............................. 19,155 0.0% ------------ ----- GERMANY -- (0.0%) Other Securities.............................. 2,708 0.0% ------------ ----- ITALY -- (0.0%) Other Securities.............................. 3,004 0.0% ------------ ----- SPAIN -- (0.0%) Other Securities.............................. 28,557 0.0% ------------ ----- UNITED KINGDOM -- (0.0%) Other Securities.............................. 8,638 0.0% ------------ ----- TOTAL RIGHTS/WARRANTS............................. 62,062 0.0% ------------ ----- 21 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- SECURITIES LENDING COLLATERAL -- (7.2%) (S)@ DFA Short Term Investment Fund 2,185,669 $ 25,288,193 7.7% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $323,623,199).................. $349,632,192 106.6% ============ ====== Summary of the Portfolio's investments as of October 31, 2014, 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................... $ 1,209,909 $ 19,354,439 -- $ 20,564,348 Austria..................... -- 1,362,018 -- 1,362,018 Belgium..................... 616,367 4,128,642 -- 4,745,009 Canada...................... 31,028,793 10 -- 31,028,803 China....................... -- 903 -- 903 Denmark..................... 662,565 4,587,640 -- 5,250,205 Finland..................... 410,432 4,414,925 -- 4,825,357 France...................... 1,326,499 27,008,453 -- 28,334,952 Germany..................... 1,535,649 20,758,262 -- 22,293,911 Greece...................... -- -- -- -- Hong Kong................... 50,426 7,793,738 -- 7,844,164 Ireland..................... 287,709 1,089,632 -- 1,377,341 Israel...................... 449,238 1,276,853 -- 1,726,091 Italy....................... 185,254 7,881,084 -- 8,066,338 Japan....................... 3,849,427 62,620,019 -- 66,469,446 Netherlands................. 2,403,599 6,419,666 -- 8,823,265 New Zealand................. 7,220 790,098 -- 797,318 Norway...................... 179,306 2,982,874 -- 3,162,180 Portugal.................... 3,586 1,110,348 -- 1,113,934 Singapore................... -- 4,424,343 -- 4,424,343 Spain....................... 1,031,375 8,667,731 -- 9,699,106 Sweden...................... 240,470 10,938,520 -- 11,178,990 Switzerland................. 3,670,067 19,078,867 -- 22,748,934 United Kingdom.............. 18,961,956 39,281,133 -- 58,243,089 United States............... 22,116 -- -- 22,116 Preferred Stocks Germany..................... -- 174,981 -- 174,981 United Kingdom.............. -- 4,795 -- 4,795 Rights/Warrants Austria..................... -- -- -- -- France...................... -- 19,155 -- 19,155 Germany..................... -- 2,708 -- 2,708 Italy....................... -- 3,004 -- 3,004 Spain....................... -- 28,557 -- 28,557 United Kingdom.............. 8,263 375 -- 8,638 Securities Lending Collateral. -- 25,288,193 -- 25,288,193 ----------- ------------ -- ------------ TOTAL......................... $68,140,226 $281,491,966 -- $349,632,192 =========== ============ == ============ See accompanying Notes to Financial Statements. 22 DFA INTERNATIONAL VALUE EX TOBACCO PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (94.1%) AUSTRALIA -- (5.8%) Macquarie Group, Ltd........................ 9,102 $ 491,885 0.7% National Australia Bank, Ltd................ 14,424 446,217 0.6% Santos, Ltd................................. 33,098 379,278 0.5% Wesfarmers, Ltd............................. 15,985 622,086 0.9% Other Securities............................ 2,399,413 3.4% ---------- ---- TOTAL AUSTRALIA................................. 4,338,879 6.1% ---------- ---- AUSTRIA -- (0.1%) Other Securities............................ 48,109 0.1% ---------- ---- BELGIUM -- (1.5%) Other Securities............................ 1,160,803 1.6% ---------- ---- CANADA -- (7.6%) Canadian Natural Resources, Ltd.(136385101). 10,741 374,646 0.5% Canadian Natural Resources, Ltd.(2171573)... 11,405 397,994 0.6% Manulife Financial Corp..................... 28,109 533,474 0.8% Suncor Energy, Inc.......................... 32,505 1,154,208 1.6% Other Securities............................ 3,300,112 4.6% ---------- ---- TOTAL CANADA.................................... 5,760,434 8.1% ---------- ---- CHINA -- (0.0%) Other Securities............................ 121 0.0% ---------- ---- DENMARK -- (1.4%) AP Moeller -- Maersk A.S. Class B........... 160 373,372 0.5% Other Securities............................ 714,100 1.0% ---------- ---- TOTAL DENMARK................................... 1,087,472 1.5% ---------- ---- FINLAND -- (0.9%) Other Securities............................ 659,770 0.9% ---------- ---- FRANCE -- (8.6%) # AXA SA Sponsored ADR........................ 37,500 870,375 1.2% BNP Paribas SA.............................. 7,344 461,512 0.6% Cie de St-Gobain............................ 9,137 392,753 0.6% GDF Suez.................................... 27,688 672,262 0.9% Orange SA................................... 41,374 658,689 0.9% Renault SA.................................. 6,543 486,709 0.7% Societe Generale SA......................... 10,843 522,535 0.7% Vivendi SA.................................. 27,454 670,683 0.9% Other Securities............................ 1,760,348 2.6% ---------- ---- TOTAL FRANCE.................................... 6,495,866 9.1% ---------- ---- GERMANY -- (6.9%) Allianz SE.................................. 7,432 1,181,852 1.7% Bayerische Motoren Werke AG................. 6,083 652,327 0.9% Daimler AG.................................. 19,561 1,525,151 2.1% Other Securities............................ 1,806,850 2.5% ---------- ---- TOTAL GERMANY................................... 5,166,180 7.2% ---------- ---- 23 DFA INTERNATIONAL VALUE EX TOBACCO PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- HONG KONG -- (2.2%) Hutchison Whampoa, Ltd................... 33,000 $ 419,310 0.6% Other Securities......................... 1,236,566 1.7% ----------- ----- TOTAL HONG KONG.............................. 1,655,876 2.3% ----------- ----- IRELAND -- (0.1%) Other Securities......................... 92,885 0.1% ----------- ----- ISRAEL -- (0.3%) Other Securities......................... 259,936 0.4% ----------- ----- ITALY -- (1.8%) UniCredit SpA............................ 64,972 470,574 0.7% Other Securities......................... 875,685 1.2% ----------- ----- TOTAL ITALY.................................. 1,346,259 1.9% ----------- ----- JAPAN -- (21.3%) Honda Motor Co., Ltd..................... 22,300 712,914 1.0% Mitsubishi UFJ Financial Group, Inc...... 218,000 1,270,768 1.8% Mizuho Financial Group, Inc.............. 407,500 742,594 1.0% Nippon Steel & Sumitomo Metal Corp....... 157,000 414,298 0.6% Nissan Motor Co., Ltd.................... 47,100 429,632 0.6% NTT DOCOMO, Inc.......................... 30,100 507,663 0.7% Sony Corp. Sponsored ADR................. 22,200 440,004 0.6% Sumitomo Mitsui Financial Group, Inc..... 22,100 901,302 1.2% Other Securities......................... 10,625,711 14.9% ----------- ----- TOTAL JAPAN.................................. 16,044,886 22.4% ----------- ----- NETHERLANDS -- (2.9%) * ING Groep NV............................. 65,495 937,912 1.3% Other Securities......................... 1,240,357 1.8% ----------- ----- TOTAL NETHERLANDS............................ 2,178,269 3.1% ----------- ----- NEW ZEALAND -- (0.1%) Other Securities......................... 49,357 0.1% ----------- ----- NORWAY -- (0.9%) Other Securities......................... 676,833 1.0% ----------- ----- PORTUGAL -- (0.0%) Other Securities......................... 27,892 0.0% ----------- ----- SINGAPORE -- (1.2%) Other Securities......................... 884,390 1.2% ----------- ----- SPAIN -- (2.4%) Iberdrola SA............................. 86,488 612,241 0.8% Other Securities......................... 1,200,642 1.7% ----------- ----- TOTAL SPAIN.................................. 1,812,883 2.5% ----------- ----- SWEDEN -- (3.0%) Skandinaviska Enskilda Banken AB Class A. 35,139 451,335 0.6% Telefonaktiebolaget LM Ericsson Class B.. 46,520 549,699 0.8% 24 DFA INTERNATIONAL VALUE EX TOBACCO PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- SWEDEN -- (Continued) Other Securities........................ $ 1,274,710 1.8% ----------- ------ TOTAL SWEDEN.................................. 2,275,744 3.2% ----------- ------ SWITZERLAND -- (9.0%) ABB, Ltd................................ 22,416 491,777 0.7% Holcim, Ltd............................. 7,487 531,386 0.7% Novartis AG............................. 19,006 1,763,811 2.5% Swiss Re AG............................. 13,004 1,051,514 1.5% UBS AG.................................. 26,534 461,377 0.6% Zurich Insurance Group AG............... 3,199 968,108 1.4% Other Securities........................ 1,526,350 2.1% ----------- ------ TOTAL SWITZERLAND............................. 6,794,323 9.5% ----------- ------ UNITED KINGDOM -- (16.1%) Anglo American P.L.C.................... 26,001 548,973 0.8% # Barclays P.L.C. Sponsored ADR........... 33,265 512,281 0.7% BP P.L.C. Sponsored ADR................. 59,930 2,604,558 3.6% Glencore P.L.C.......................... 75,142 385,528 0.5% HSBC Holdings P.L.C..................... 40,067 408,498 0.6% HSBC Holdings P.L.C. Sponsored ADR...... 19,417 990,655 1.4% Royal Dutch Shell P.L.C. ADR(780259206). 9,770 701,388 1.0% # Royal Dutch Shell P.L.C. ADR(780259107). 28,341 2,116,222 3.0% Standard Chartered P.L.C................ 29,083 437,776 0.6% Vodafone Group P.L.C. Sponsored ADR..... 25,258 839,065 1.2% Other Securities........................ 2,608,166 3.6% ----------- ------ TOTAL UNITED KINGDOM.......................... 12,153,110 17.0% ----------- ------ TOTAL COMMON STOCKS........................... 70,970,277 99.3% ----------- ------ PREFERRED STOCKS -- (0.2%) GERMANY -- (0.2%) Other Securities........................ 173,011 0.2% ----------- ------ RIGHTS/WARRANTS -- (0.0%) SPAIN -- (0.0%) Other Securities........................ 5,478 0.0% ----------- ------ Value+ - ------ - SECURITIES LENDING COLLATERAL -- (5.7%) (S)@ DFA Short Term Investment Fund.......... 367,781 4,255,230 6.0% ----------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $73,167,023)........................ $75,403,996 105.5% =========== ====== 25 DFA INTERNATIONAL VALUE EX TOBACCO PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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................... $ 79,080 $ 4,259,799 -- $ 4,338,879 Austria..................... -- 48,109 -- 48,109 Belgium..................... -- 1,160,803 -- 1,160,803 Canada...................... 5,760,434 -- -- 5,760,434 China....................... -- 121 -- 121 Denmark..................... -- 1,087,472 -- 1,087,472 Finland..................... -- 659,770 -- 659,770 France...................... 870,375 5,625,491 -- 6,495,866 Germany..................... 278,372 4,887,808 -- 5,166,180 Hong Kong................... -- 1,655,876 -- 1,655,876 Ireland..................... 13,267 79,618 -- 92,885 Israel...................... -- 259,936 -- 259,936 Italy....................... -- 1,346,259 -- 1,346,259 Japan....................... 440,004 15,604,882 -- 16,044,886 Netherlands................. 190,846 1,987,423 -- 2,178,269 New Zealand................. -- 49,357 -- 49,357 Norway...................... 20,792 656,041 -- 676,833 Portugal.................... -- 27,892 -- 27,892 Singapore................... -- 884,390 -- 884,390 Spain....................... -- 1,812,883 -- 1,812,883 Sweden...................... -- 2,275,744 -- 2,275,744 Switzerland................. 21,343 6,772,980 -- 6,794,323 United Kingdom.............. 8,308,690 3,844,420 -- 12,153,110 Preferred Stocks Germany..................... -- 173,011 -- 173,011 Rights/Warrants Spain....................... -- 5,478 -- 5,478 Securities Lending Collateral. -- 4,255,230 -- 4,255,230 ----------- ----------- -- ----------- TOTAL......................... $15,983,203 $59,420,793 -- $75,403,996 =========== =========== == =========== See accompanying Notes to Financial Statements. 26 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (91.7%) AUSTRALIA -- (6.8%) AMP, Ltd.................................... 168,228 $ 867,556 0.3% Australia & New Zealand Banking Group, Ltd.. 46,595 1,378,773 0.5% BHP Billiton, Ltd........................... 76,637 2,292,736 0.8% Commonwealth Bank of Australia.............. 14,004 995,816 0.3% National Australia Bank, Ltd................ 39,990 1,237,121 0.4% # Westpac Banking Corp........................ 37,589 1,153,767 0.4% Woodside Petroleum, Ltd..................... 23,543 836,255 0.3% Other Securities............................ 13,570,523 4.3% ----------- ----- TOTAL AUSTRALIA................................. 22,332,547 7.3% ----------- ----- AUSTRIA -- (0.5%) Other Securities............................ 1,498,823 0.5% ----------- ----- BELGIUM -- (1.0%) Other Securities............................ 3,456,409 1.1% ----------- ----- CANADA -- (9.8%) Bank of Montreal............................ 10,320 749,232 0.3% Bank of Nova Scotia (The)................... 19,404 1,189,465 0.4% Canadian Natural Resources, Ltd............. 31,039 1,082,640 0.4% Royal Bank of Canada........................ 12,798 910,834 0.3% Suncor Energy, Inc.......................... 45,105 1,603,032 0.5% Toronto-Dominion Bank (The)................. 29,506 1,453,466 0.5% Other Securities............................ 25,234,613 8.1% ----------- ----- TOTAL CANADA.................................... 32,223,282 10.5% ----------- ----- CHINA -- (0.0%) Other Securities............................ 13,094 0.0% ----------- ----- DENMARK -- (1.1%) Other Securities............................ 3,676,067 1.2% ----------- ----- FINLAND -- (1.3%) Other Securities............................ 4,292,200 1.4% ----------- ----- FRANCE -- (6.8%) BNP Paribas SA.............................. 13,394 841,707 0.3% Cie Generale des Etablissements Michelin.... 9,945 863,792 0.3% GDF Suez.................................... 59,669 1,448,759 0.5% Orange SA................................... 79,376 1,263,695 0.4% Total SA.................................... 49,676 2,965,819 1.0% Other Securities............................ 15,167,479 4.9% ----------- ----- TOTAL FRANCE.................................... 22,551,251 7.4% ----------- ----- GERMANY -- (5.6%) Allianz SE.................................. 5,684 903,882 0.3% BASF SE..................................... 10,367 916,030 0.3% Bayerische Motoren Werke AG................. 11,435 1,226,263 0.4% Deutsche Telekom AG......................... 103,030 1,553,004 0.5% RWE AG...................................... 30,166 1,070,343 0.4% Other Securities............................ 12,760,419 4.1% ----------- ----- TOTAL GERMANY................................... 18,429,941 6.0% ----------- ----- 27 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- HONG KONG -- (2.7%) AIA Group, Ltd........................ 138,600 $ 773,447 0.3% Other Securities...................... 8,045,147 2.6% ----------- ----- TOTAL HONG KONG........................... 8,818,594 2.9% ----------- ----- IRELAND -- (0.4%) Other Securities...................... 1,254,422 0.4% ----------- ----- ISRAEL -- (0.5%) Other Securities...................... 1,637,447 0.5% ----------- ----- ITALY -- (2.5%) Eni SpA............................... 47,976 1,022,124 0.4% Other Securities...................... 7,371,847 2.3% ----------- ----- TOTAL ITALY............................... 8,393,971 2.7% ----------- ----- JAPAN -- (19.8%) Honda Motor Co., Ltd.................. 36,200 1,157,286 0.4% Mitsubishi UFJ Financial Group, Inc... 229,600 1,338,387 0.5% Mizuho Financial Group, Inc........... 388,499 707,968 0.3% NTT DOCOMO, Inc....................... 46,100 777,517 0.3% Sumitomo Mitsui Financial Group, Inc.. 36,500 1,488,576 0.5% Other Securities...................... 59,854,959 19.3% ----------- ----- TOTAL JAPAN............................... 65,324,693 21.3% ----------- ----- NETHERLANDS -- (2.4%) # Akzo Nobel NV......................... 10,601 706,944 0.2% * ING Groep NV.......................... 52,366 749,900 0.3% Other Securities...................... 6,470,958 2.1% ----------- ----- TOTAL NETHERLANDS......................... 7,927,802 2.6% ----------- ----- NEW ZEALAND -- (0.3%) Other Securities...................... 923,776 0.3% ----------- ----- NORWAY -- (1.0%) Other Securities...................... 3,475,810 1.1% ----------- ----- PORTUGAL -- (0.3%) Other Securities...................... 1,028,852 0.3% ----------- ----- SINGAPORE -- (1.5%) Other Securities...................... 4,831,758 1.6% ----------- ----- SPAIN -- (3.1%) Banco Santander SA.................... 219,887 1,942,817 0.6% Iberdrola SA.......................... 164,165 1,162,110 0.4% Telefonica SA......................... 52,801 794,532 0.3% Other Securities...................... 6,399,533 2.1% ----------- ----- TOTAL SPAIN............................... 10,298,992 3.4% ----------- ----- SWEDEN -- (2.7%) Other Securities...................... 8,867,891 2.9% ----------- ----- SWITZERLAND -- (4.0%) ABB, Ltd.............................. 33,688 739,070 0.3% Swiss Re AG........................... 8,427 681,414 0.2% 28 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- SWITZERLAND -- (Continued) Other Securities........................ $ 11,915,102 3.8% ------------ ------ TOTAL SWITZERLAND............................. 13,335,586 4.3% ------------ ------ UNITED KINGDOM -- (17.6%) Anglo American P.L.C.................... 48,823 1,030,827 0.3% # Barclays P.L.C. Sponsored ADR........... 52,153 803,156 0.3% BG Group P.L.C.......................... 93,470 1,557,774 0.5% BHP Billiton P.L.C. ADR................. 17,091 889,416 0.3% BP P.L.C. Sponsored ADR................. 59,212 2,573,354 0.8% Centrica P.L.C.......................... 144,274 699,725 0.2% HSBC Holdings P.L.C. Sponsored ADR...... 48,766 2,488,041 0.8% #* Lloyds Banking Group P.L.C. ADR......... 232,299 1,142,911 0.4% # Rio Tinto P.L.C. Sponsored ADR.......... 34,811 1,669,884 0.6% Royal Dutch Shell P.L.C. ADR(780259206). 28,627 2,055,132 0.7% Royal Dutch Shell P.L.C. ADR(780259107). 16,555 1,236,162 0.4% Vodafone Group P.L.C.................... 315,419 1,048,911 0.3% WPP P.L.C............................... 36,596 714,817 0.2% Other Securities........................ 40,298,367 13.2% ------------ ------ TOTAL UNITED KINGDOM.......................... 58,208,477 19.0% ------------ ------ UNITED STATES -- (0.0%) Other Securities........................ 532 0.0% ------------ ------ TOTAL COMMON STOCKS........................... 302,802,217 98.7% ------------ ------ PREFERRED STOCKS -- (0.0%) UNITED KINGDOM -- (0.0%) Other Securities........................ 2,501 0.0% ------------ ------ RIGHTS/WARRANTS -- (0.0%) FRANCE -- (0.0%) Other Securities........................ 14,389 0.0% ------------ ------ ITALY -- (0.0%) Other Securities........................ 3,417 0.0% ------------ ------ PORTUGAL -- (0.0%) Other Securities........................ -- 0.0% ------------ ------ SPAIN -- (0.0%) Other Securities........................ 43,729 0.0% ------------ ------ UNITED KINGDOM -- (0.0%) Other Securities........................ 12,016 0.0% ------------ ------ TOTAL RIGHTS/WARRANTS......................... 73,551 0.0% ------------ ------ Value+ - ------ SECURITIES LENDING COLLATERAL -- (8.3%) (S)@ DFA Short Term Investment Fund.......... 2,359,927 27,304,356 8.9% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $333,014,291)....................... $330,182,625 107.6% ============ ====== 29 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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................... $ 269,104 $ 22,063,443 -- $ 22,332,547 Austria..................... -- 1,498,823 -- 1,498,823 Belgium..................... 94,606 3,361,803 -- 3,456,409 Canada...................... 32,223,282 -- -- 32,223,282 China....................... -- 13,094 -- 13,094 Denmark..................... -- 3,676,067 -- 3,676,067 Finland..................... -- 4,292,200 -- 4,292,200 France...................... 457,781 22,093,470 -- 22,551,251 Germany..................... 462,955 17,966,986 -- 18,429,941 Hong Kong................... 12,348 8,806,246 -- 8,818,594 Ireland..................... 423,594 830,828 -- 1,254,422 Israel...................... 173,452 1,463,995 -- 1,637,447 Italy....................... 205,335 8,188,636 -- 8,393,971 Japan....................... 158,204 65,166,489 -- 65,324,693 Netherlands................. 1,308,883 6,618,919 -- 7,927,802 New Zealand................. -- 923,776 -- 923,776 Norway...................... 360,901 3,114,909 -- 3,475,810 Portugal.................... -- 1,028,852 -- 1,028,852 Singapore................... -- 4,831,758 -- 4,831,758 Spain....................... 82,099 10,216,893 -- 10,298,992 Sweden...................... -- 8,867,891 -- 8,867,891 Switzerland................. 1,275,654 12,059,932 -- 13,335,586 United Kingdom.............. 15,870,217 42,338,260 -- 58,208,477 United States............... 532 -- -- 532 Preferred Stocks United Kingdom.............. -- 2,501 -- 2,501 Rights/Warrants France...................... -- 14,389 -- 14,389 Italy....................... -- 3,417 -- 3,417 Portugal.................... -- -- -- -- Spain....................... -- 43,729 -- 43,729 United Kingdom.............. 11,998 18 -- 12,016 Securities Lending Collateral. -- 27,304,356 -- 27,304,356 ----------- ------------ -- ------------ TOTAL......................... $53,390,945 $276,791,680 -- $330,182,625 =========== ============ == ============ See accompanying Notes to Financial Statements. 30 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (88.8%) BRAZIL -- (6.4%) BRF SA.............................................. 83,500 $ 2,175,046 0.3% # Embraer SA ADR...................................... 68,757 2,656,770 0.3% Kroton Educacional SA............................... 308,704 2,199,604 0.3% Other Securities.................................... 54,933,214 6.0% ------------ ----- TOTAL BRAZIL............................................ 61,964,634 6.9% ------------ ----- CHILE -- (1.5%) Other Securities.................................... 14,495,410 1.6% ------------ ----- CHINA -- (14.4%) Bank of China, Ltd. Class H......................... 9,583,356 4,587,083 0.5% China Construction Bank Corp. Class H............... 14,524,990 10,837,079 1.2% # China Mobile, Ltd. Sponsored ADR.................... 167,201 10,381,510 1.2% # CNOOC, Ltd. ADR..................................... 27,751 4,339,424 0.5% Industrial & Commercial Bank of China, Ltd. Class H. 15,024,017 9,955,901 1.1% Tencent Holdings, Ltd............................... 635,200 10,209,102 1.1% Other Securities.................................... 88,808,233 9.8% ------------ ----- TOTAL CHINA............................................. 139,118,332 15.4% ------------ ----- COLOMBIA -- (0.7%) Other Securities.................................... 6,458,384 0.7% ------------ ----- CZECH REPUBLIC -- (0.2%) Other Securities.................................... 1,896,499 0.2% ------------ ----- EGYPT -- (0.1%) Other Securities.................................... 714,582 0.1% ------------ ----- GREECE -- (0.5%) Other Securities.................................... 4,434,669 0.5% ------------ ----- HONG KONG -- (0.0%) Other Securities.................................... 21,324 0.0% ------------ ----- HUNGARY -- (0.2%) Other Securities.................................... 1,717,791 0.2% ------------ ----- INDIA -- (7.9%) Axis Bank, Ltd...................................... 304,890 2,184,135 0.3% HDFC Bank, Ltd...................................... 198,696 2,961,253 0.3% Infosys, Ltd........................................ 41,412 2,747,089 0.3% # Infosys, Ltd. Sponsored ADR......................... 31,765 2,123,808 0.3% Tata Consultancy Services, Ltd...................... 66,580 2,840,320 0.3% Other Securities.................................... 63,961,611 7.0% ------------ ----- TOTAL INDIA............................................. 76,818,216 8.5% ------------ ----- INDONESIA -- (3.0%) Astra International Tbk PT.......................... 3,964,600 2,222,995 0.3% Bank Rakyat Indonesia Persero Tbk PT................ 2,711,000 2,484,350 0.3% Other Securities.................................... 23,977,325 2.6% ------------ ----- TOTAL INDONESIA......................................... 28,684,670 3.2% ------------ ----- 31 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- MALAYSIA -- (3.9%) Malayan Banking Bhd..................................... 1,084,537 $ 3,199,518 0.4% Other Securities........................................ 34,175,307 3.7% ------------ ----- TOTAL MALAYSIA.............................................. 37,374,825 4.1% ------------ ----- MEXICO -- (5.7%) Alfa S.A.B. de C.V. Class A............................. 802,622 2,562,311 0.3% America Movil S.A.B. de C.V. Series L................... 3,548,540 4,340,069 0.5% America Movil S.A.B. de C.V. Series L ADR............... 133,377 3,255,733 0.4% #* Cemex S.A.B. de C.V. Sponsored ADR...................... 305,317 3,755,402 0.4% Fomento Economico Mexicano S.A.B. de C.V. Sponsored ADR. 43,768 4,212,232 0.5% Grupo Financiero Banorte S.A.B. de C.V.................. 353,994 2,268,611 0.3% # Grupo Mexico S.A.B. de C.V. Series B.................... 1,085,232 3,735,301 0.4% Grupo Televisa S.A.B. Sponsored ADR..................... 76,164 2,752,567 0.3% Other Securities........................................ 27,955,339 3.0% ------------ ----- TOTAL MEXICO................................................ 54,837,565 6.1% ------------ ----- PERU -- (0.2%) Other Securities........................................ 2,052,033 0.2% ------------ ----- PHILIPPINES -- (1.3%) Other Securities........................................ 12,943,181 1.4% ------------ ----- POLAND -- (2.0%) Powszechna Kasa Oszczednosci Bank Polski SA............. 207,467 2,307,735 0.3% Other Securities........................................ 17,367,406 1.9% ------------ ----- TOTAL POLAND................................................ 19,675,141 2.2% ------------ ----- RUSSIA -- (1.8%) Gazprom OAO Sponsored ADR............................... 813,217 5,388,223 0.6% Other Securities........................................ 11,656,932 1.3% ------------ ----- TOTAL RUSSIA................................................ 17,045,155 1.9% ------------ ----- SOUTH AFRICA -- (6.5%) Bidvest Group, Ltd. (The)............................... 97,288 2,677,529 0.3% FirstRand, Ltd.......................................... 564,018 2,415,872 0.3% Naspers, Ltd. Class N................................... 23,440 2,923,651 0.3% Sanlam, Ltd............................................. 489,472 3,092,993 0.4% Sasol, Ltd. Sponsored ADR............................... 124,091 6,228,127 0.7% Standard Bank Group, Ltd................................ 194,461 2,448,803 0.3% Steinhoff International Holdings, Ltd................... 530,340 2,713,225 0.3% Other Securities........................................ 40,793,256 4.4% ------------ ----- TOTAL SOUTH AFRICA.......................................... 63,293,456 7.0% ------------ ----- SOUTH KOREA -- (14.0%) Hana Financial Group, Inc............................... 68,183 2,361,155 0.3% Hyundai Mobis Co., Ltd.................................. 10,173 2,380,122 0.3% Naver Corp.............................................. 4,206 2,976,258 0.3% Samsung Electronics Co., Ltd............................ 20,663 24,096,000 2.7% Samsung Electronics Co., Ltd. GDR....................... 16,921 9,764,582 1.1% Samsung Fire & Marine Insurance Co., Ltd................ 8,379 2,256,132 0.3% * SK Hynix, Inc........................................... 86,779 3,869,848 0.4% Other Securities........................................ 87,940,311 9.6% ------------ ----- TOTAL SOUTH KOREA........................................... 135,644,408 15.0% ------------ ----- 32 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- SPAIN -- (0.0%) Other Securities........................................... $ 148,448 0.0% ------------ ----- TAIWAN -- (13.4%) # Hon Hai Precision Industry Co., Ltd........................ 2,265,758 7,171,117 0.8% Taiwan Semiconductor Manufacturing Co., Ltd................ 2,131,214 9,238,537 1.0% Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR. 382,871 8,430,819 1.0% Other Securities........................................... 105,441,679 11.6% ------------ ----- TOTAL TAIWAN................................................... 130,282,152 14.4% ------------ ----- THAILAND -- (3.2%) PTT PCL.................................................... 214,200 2,420,190 0.3% Other Securities........................................... 28,999,911 3.2% ------------ ----- TOTAL THAILAND................................................. 31,420,101 3.5% ------------ ----- TURKEY -- (1.9%) Other Securities........................................... 18,783,452 2.1% ------------ ----- TOTAL COMMON STOCKS............................................ 859,824,428 95.2% ------------ ----- PREFERRED STOCKS -- (4.0%) BRAZIL -- (3.9%) Banco Bradesco SA.......................................... 375,590 5,657,504 0.6% Banco Bradesco SA ADR...................................... 141,580 2,120,874 0.3% Itau Unibanco Holding SA................................... 710,632 10,545,604 1.2% Itau Unibanco Holding SA ADR............................... 224,816 3,318,284 0.4% Vale SA Sponsored ADR...................................... 320,468 2,807,300 0.3% Other Securities........................................... 13,068,903 1.4% ------------ ----- TOTAL BRAZIL................................................... 37,518,469 4.2% ------------ ----- CHILE -- (0.0%) Other Securities........................................... 104,861 0.0% ------------ ----- COLOMBIA -- (0.1%) Other Securities........................................... 933,790 0.1% ------------ ----- TOTAL PREFERRED STOCKS......................................... 38,557,120 4.3% ------------ ----- RIGHTS/WARRANTS -- (0.0%) BRAZIL -- (0.0%) Other Securities........................................... 40 0.0% ------------ ----- HONG KONG -- (0.0%) Other Securities........................................... 26,971 0.0% ------------ ----- MALAYSIA -- (0.0%) Other Securities........................................... -- 0.0% ------------ ----- POLAND -- (0.0%) Other Securities........................................... 347 0.0% ------------ ----- TAIWAN -- (0.0%) Other Securities........................................... 80 0.0% ------------ ----- THAILAND -- (0.0%) Other Securities........................................... 473 0.0% ------------ ----- TOTAL RIGHTS/WARRANTS.......................................... 27,911 0.0% ------------ ----- 33 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- SECURITIES LENDING COLLATERAL -- (7.2%) (S)@ DFA Short Term Investment Fund...... 6,023,017 $ 69,686,310 7.7% ------------ ------ TOTAL INVESTMENTS -- (100.0%)............ (Cost $887,528,057).................. $968,095,769 107.2% ============ ====== Summary of the Portfolio's investments as of October 31, 2014, 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...................... $ 16,888,608 $ 45,076,026 -- $ 61,964,634 Chile....................... 5,730,996 8,764,414 -- 14,495,410 China....................... 19,663,213 119,455,119 -- 139,118,332 Colombia.................... 6,458,384 -- -- 6,458,384 Czech Republic.............. -- 1,896,499 -- 1,896,499 Egypt....................... -- 714,582 -- 714,582 Greece...................... 113,513 4,321,156 -- 4,434,669 Hong Kong................... -- 21,324 -- 21,324 Hungary..................... -- 1,717,791 -- 1,717,791 India....................... 7,243,155 69,575,061 -- 76,818,216 Indonesia................... 1,733,420 26,951,250 -- 28,684,670 Malaysia.................... -- 37,374,825 -- 37,374,825 Mexico...................... 54,828,602 8,963 -- 54,837,565 Peru........................ 2,052,033 -- -- 2,052,033 Philippines................. 530,323 12,412,858 -- 12,943,181 Poland...................... -- 19,675,141 -- 19,675,141 Russia...................... 476,672 16,568,483 -- 17,045,155 South Africa................ 9,677,712 53,615,744 -- 63,293,456 South Korea................. 7,303,563 128,340,845 -- 135,644,408 Spain....................... 148,448 -- -- 148,448 Taiwan...................... 12,285,292 117,996,860 -- 130,282,152 Thailand.................... 31,420,101 -- -- 31,420,101 Turkey...................... 578,694 18,204,758 -- 18,783,452 Preferred Stocks Brazil...................... 10,245,965 27,272,504 -- 37,518,469 Chile....................... -- 104,861 -- 104,861 Colombia.................... 933,790 -- -- 933,790 Rights/Warrants Brazil...................... -- 40 -- 40 Hong Kong................... -- 26,971 -- 26,971 Malaysia.................... -- -- -- -- Poland...................... -- 347 -- 347 Taiwan...................... -- 80 -- 80 Thailand.................... -- 473 -- 473 Securities Lending Collateral. -- 69,686,310 -- 69,686,310 ------------ ------------ -- ------------ TOTAL......................... $188,312,484 $779,783,285 -- $968,095,769 ============ ============ == ============ See accompanying Notes to Financial Statements. 34 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2014 (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 $66,365, $47,406 and $24,399 of securities on loan, respectively).................................................... $ 510,188 $ 424,215 $ 324,344 Temporary Cash Investments at Value & Cost................................. 1,347 2,861 -- Collateral from Securities on Loan Invested in Affiliate at Value & Cost... 65,468 46,754 25,288 Foreign Currencies at Value................................................ -- -- 484 Cash....................................................................... 303 130 4,810 Receivables: Investment Securities Sold............................................... 529 499 -- Dividends, Interest and Tax Reclaims..................................... 455 400 671 Securities Lending Income................................................ 27 19 20 Fund Shares Sold......................................................... 485 829 229 Prepaid Expenses and Other Assets.......................................... 10 5 5 ------------ ------------ ------------ Total Assets.......................................................... 578,812 475,712 355,851 ------------ ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned......................................... 65,468 46,754 25,288 Investment Securities Purchased.......................................... 1,719 2,231 1,453 Fund Shares Redeemed..................................................... 1,130 54 1,102 Due to Advisor........................................................... 103 99 111 Unrealized Loss on Foreign Currency Contracts.............................. -- -- 8 Accrued Expenses and Other Liabilities..................................... 26 27 42 ------------ ------------ ------------ Total Liabilities..................................................... 68,446 49,165 28,004 ------------ ------------ ------------ NET ASSETS................................................................. $ 510,366 $ 426,547 $ 327,847 ============ ============ ============ SHARES OUTSTANDING, $0.01 PAR VALUE (1).................................... 38,724,327 25,652,705 34,648,032 ============ ============ ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE..................................................................... $ 13.18 $ 16.63 $ 9.46 ============ ============ ============ Investments at Cost........................................................ $ 360,799 $ 287,649 $ 298,335 ============ ============ ============ Foreign Currencies at Cost................................................. $ -- $ -- $ 486 ============ ============ ============ NET ASSETS CONSIST OF: Paid-In Capital............................................................ $ 350,244 $ 283,459 $ 302,011 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)........................................................ 622 658 862 Accumulated Net Realized Gain (Loss)....................................... 10,111 5,864 (1,018) Net Unrealized Foreign Exchange Gain (Loss)................................ -- -- (15) Net Unrealized Appreciation (Depreciation)................................. 149,389 136,566 26,007 ------------ ------------ ------------ NET ASSETS................................................................. $ 510,366 $ 426,547 $ 327,847 ============ ============ ============ (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, 2014 (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 $4,268, $26,329 and $91,847 of securities on loan, respectively)................................................... $ 71,149 $ 302,878 $ 898,409 Collateral from Securities on Loan Invested in Affiliate at Value & Cost.. 4,255 27,304 69,686 Foreign Currencies at Value............................................... 186 288 2,867 Cash...................................................................... 3 2,894 6,651 Receivables: Investment Securities Sold.............................................. -- 6 1,368 Dividends, Interest and Tax Reclaims.................................... 182 638 767 Securities Lending Income............................................... 3 23 155 Fund Shares Sold........................................................ -- 233 146 Unrealized Gain on Foreign Currency Contracts............................. -- -- 1 Prepaid Expenses and Other Assets......................................... 5 17 9 ------------ ------------ ------------ Total Assets......................................................... 75,783 334,281 980,059 ------------ ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned........................................ 4,255 27,304 69,686 Investment Securities Purchased......................................... -- 39 6,244 Fund Shares Redeemed.................................................... -- 8 195 Due to Advisor.......................................................... 27 93 407 Unrealized Loss on Foreign Currency Contracts............................. -- -- 11 Accrued Expenses and Other Liabilities.................................... 7 65 120 ------------ ------------ ------------ Total Liabilities.................................................... 4,289 27,509 76,663 ------------ ------------ ------------ NET ASSETS................................................................ $ 71,494 $ 306,772 $ 903,396 ============ ============ ============ SHARES OUTSTANDING, $0.01 PAR VALUE (1)................................... 7,789,487 26,086,160 70,578,104 ============ ============ ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE.................................................................... $ 9.18 $ 11.76 $ 12.80 ============ ============ ============ Investments at Cost....................................................... $ 68,912 $ 305,710 $ 817,842 ============ ============ ============ Foreign Currencies at Cost................................................ $ 189 $ 292 $ 2,882 ============ ============ ============ NET ASSETS CONSIST OF: Paid-In Capital........................................................... $ 68,524 $ 307,295 $ 830,332 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)....................................................... 165 919 3,180 Accumulated Net Realized Gain (Loss)...................................... 576 1,410 (10,702) Net Unrealized Foreign Exchange Gain (Loss)............................... (5) (16) 34 Net Unrealized Appreciation (Depreciation)................................ 2,234 (2,836) 80,552 ------------ ------------ ------------ NET ASSETS................................................................ $ 71,494 $ 306,772 $ 903,396 ============ ============ ============ (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, 2014 (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 $2, $2 and $689, respectively)................................................ $ 7,809 $ 6,092 $ 9,218 Interest...................................................... 1 1 -- Income from Securities Lending................................ 223 161 343 ------- ------- -------- Total Investment Income.................................... 8,033 6,254 9,561 ------- ------- -------- Expenses Investment Advisory Services Fees............................. 1,144 1,030 1,156 Accounting & Transfer Agent Fees.............................. 30 24 29 Custodian Fees................................................ 18 18 104 Filing Fees................................................... 34 32 38 Shareholders' Reports......................................... 12 13 8 Directors'/Trustees' Fees & Expenses.......................... 3 2 2 Professional Fees............................................. 12 10 8 Other......................................................... 46 13 8 ------- ------- -------- Total Expenses............................................. 1,299 1,142 1,353 ------- ------- -------- Fees Paid Indirectly.......................................... -- -- (2) ------- ------- -------- Net Expenses.................................................. 1,299 1,142 1,351 ------- ------- -------- Net Investment Income (Loss).................................. 6,734 5,112 8,210 ------- ------- -------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold.................................. 10,761 6,057 (423) Foreign Currency Transactions............................... -- -- (41) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.................. 35,399 35,984 (12,923) Translation of Foreign Currency Denominated Amounts......... -- -- (18) ------- ------- -------- Net Realized and Unrealized Gain (Loss)....................... 46,160 42,041 (13,405) ------- ------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations. $52,894 $47,153 $ (5,195) ======= ======= ======== See accompanying Notes to Financial Statements. 37 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2014 (Amounts in thousands) DFA International International Emerging Value ex Social Core Markets Social Tobacco Equity Core Equity Portfolio Portfolio Portfolio ------------- ------------- -------------- Investment Income Dividends (Net of Foreign Taxes Withheld of $210, $480 and $2,626, respectively)....................................................... $ 3,351 $ 6,745 $20,136 Interest............................................................. -- 1 -- Income from Securities Lending....................................... 90 257 1,421 ------- -------- ------- Total Investment Income........................................... 3,441 7,003 21,557 ------- -------- ------- Expenses Investment Advisory Services Fees.................................... 345 783 4,439 Accounting & Transfer Agent Fees..................................... 18 26 59 Custodian Fees....................................................... 22 157 435 Filing Fees.......................................................... 18 45 45 Shareholders' Reports................................................ 1 4 16 Directors'/Trustees' Fees & Expenses................................. 1 1 6 Professional Fees.................................................... 2 7 30 Other................................................................ 11 27 81 ------- -------- ------- Total Expenses.................................................... 418 1,050 5,111 ------- -------- ------- Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor (Note C)....................................... 8 66 -- Fees Paid Indirectly................................................. -- (2) (3) ------- -------- ------- Net Expenses......................................................... 426 1,114 5,108 ------- -------- ------- Net Investment Income (Loss)......................................... 3,015 5,889 16,449 ------- -------- ------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold......................................... 704 1,565 (8,859) Futures............................................................ -- (12) -- Foreign Currency Transactions...................................... (23) (71) (130) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency......................... (4,244) (21,347) (553) Translation of Foreign Currency Denominated Amounts................ (6) (17) 32 ------- -------- ------- Net Realized and Unrealized Gain (Loss).............................. (3,569) (19,882) (9,510) ------- -------- ------- Net Increase (Decrease) in Net Assets Resulting from Operations........ $ (554) $(13,993) $ 6,939 ======= ======== ======= See accompanying Notes to Financial Statements. 38 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (Amounts in thousands) U.S. Social Core Equity 2 U.S. Sustainability Core 1 International Sustainability Portfolio 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, 2014 2013 2014 2013 2014 2013 -------- -------- -------- -------- -------- -------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss).............. $ 6,734 $ 5,368 $ 5,112 $ 3,984 $ 8,210 $ 4,482 Capital Gain Distributions Received from Investment Securities.................... -- -- -- 3 -- -- Net Realized Gain (Loss) on: Investment Securities Sold.............. 10,761 7,956 6,057 2,387 (423) 521 Futures................................. -- 175 -- -- -- -- Foreign Currency Transactions........... -- -- -- -- (41) (19) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency............................... 35,399 80,194 35,984 62,760 (12,923) 37,246 Translation of Foreign Currency Denominated Amounts.................... -- -- -- -- (18) 10 -------- -------- -------- -------- -------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations............................ 52,894 93,693 47,153 69,134 (5,195) 42,240 -------- -------- -------- -------- -------- -------- Distributions From: Net Investment Income..................... (6,135) (5,251) (4,670) (3,999) (7,742) (4,537) Net Short-Term Gains...................... (505) -- (183) -- (22) -- Net Long-Term Gains....................... (7,238) (2,745) (2,133) (913) (474) -- -------- -------- -------- -------- -------- -------- Total Distributions.................... (13,878) (7,996) (6,986) (4,912) (8,238) (4,537) -------- -------- -------- -------- -------- -------- Capital Share Transactions (1): Shares Issued............................. 142,064 123,375 133,545 77,887 151,660 47,684 Shares Issued in Lieu of Cash Distributions............................ 12,779 6,403 6,873 4,617 7,485 4,462 Shares Redeemed........................... (94,518) (73,184) (51,699) (44,244) (24,467) (28,302) -------- -------- -------- -------- -------- -------- Net Increase (Decrease) from Capital Share Transactions............ 60,325 56,594 88,719 38,260 134,678 23,844 -------- -------- -------- -------- -------- -------- Total Increase (Decrease) in Net Assets................................ 99,341 142,291 128,886 102,482 121,245 61,547 Net Assets Beginning of Year......................... 411,025 268,734 297,661 195,179 206,602 145,055 -------- -------- -------- -------- -------- -------- End of Year............................... $510,366 $411,025 $426,547 $297,661 $327,847 $206,602 ======== ======== ======== ======== ======== ======== (1) Shares Issued and Redeemed: Shares Issued............................. 11,124 11,348 8,410 5,990 15,263 5,427 Shares Issued in Lieu of Cash Distributions............................ 1,039 642 443 370 746 511 Shares Redeemed........................... (7,396) (6,896) (3,296) (3,344) (2,469) (3,204) -------- -------- -------- -------- -------- -------- Net Increase (Decrease) from Shares Issued and Redeemed............ 4,767 5,094 5,557 3,016 13,540 2,734 ======== ======== ======== ======== ======== ======== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)......................... $ 622 $ 395 $ 658 $ 392 $ 862 $ 406 See accompanying Notes to Financial Statements. 39 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (Amounts in thousands) DFA International Value International Social Emerging Markets Social ex Tobacco Portfolio Core Equity Portfolio Core Equity Portfolio ---------------------- ------------------- ---------------------- Period Year Year Year Nov. 1, Year Year Ended Ended Ended 2012(a) to Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2014 2013 2014 2013 -------- -------- -------- ---------- -------- -------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)..................... $ 3,015 $ 1,846 $ 5,889 $ 2,048 $ 16,449 $ 12,168 Net Realized Gain (Loss) on: Investment Securities Sold*.................... 704 1,032 1,565 469 (8,859) 183 Futures........................................ -- -- (12) 15 -- -- Foreign Currency Transactions.................. (23) (1) (71) 2 (130) (128) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency...................................... (4,244) 13,831 (21,347) 18,511 (553) 32,111 Translation of Foreign Currency Denominated Amounts....................................... (6) 4 (17) 1 32 2 ------- ------- -------- -------- -------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations.................... (554) 16,712 (13,993) 21,046 6,939 44,336 ------- ------- -------- -------- -------- -------- Distributions From: Net Investment Income............................ (2,984) (2,014) (5,245) (1,606) (15,936) (11,637) Net Short-Term Gains............................. -- -- (497) -- (117) -- Net Long-Term Gains.............................. (380) -- (12) -- -- (14,134) ------- ------- -------- -------- -------- -------- Total Distributions........................... (3,364) (2,014) (5,754) (1,606) (16,053) (25,771) ------- ------- -------- -------- -------- -------- Capital Share Transactions (1): Shares Issued.................................... 255 1,884 195,334 146,054 224,189 305,618 Shares Issued in Lieu of Cash Distributions...... 3,364 2,014 5,159 1,408 14,379 23,993 Shares Redeemed.................................. (5,895) -- (22,830) (18,046) (90,245) (41,300) ------- ------- -------- -------- -------- -------- Net Increase (Decrease) from Capital Share Transactions........................... (2,276) 3,898 177,663 129,416 148,323 288,311 ------- ------- -------- -------- -------- -------- Total Increase (Decrease) in Net Assets....... (6,194) 18,596 157,916 148,856 139,209 306,876 Net Assets Beginning of Period.............................. 77,688 59,092 148,856 -- 764,187 457,311 ------- ------- -------- -------- -------- -------- End of Period.................................... $71,494 $77,688 $306,772 $148,856 $903,396 $764,187 ======= ======= ======== ======== ======== ======== (1) Shares Issued and Redeemed: Shares Issued.................................... 26 228 15,398 13,564 17,414 24,079 Shares Issued in Lieu of Cash Distributions...... 343 236 411 129 1,095 1,904 Shares Redeemed.................................. (598) -- (1,827) (1,589) (7,089) (3,274) ------- ------- -------- -------- -------- -------- Net Increase (Decrease) from Shares Issued and Redeemed.......................... (229) 464 13,982 12,104 11,420 22,709 ======= ======= ======== ======== ======== ======== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)........................................... $ 165 $ 148 $ 919 $ 383 $ 3,180 $ 1,776 ---------- See page 1 for the Definitions of Abbreviations and Footnotes. * Net of foreign capital gain taxes withheld of $0, $0, $0, $0, $0 and $3, 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, 2014 2013 2012 2011 2010 ------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year.......................................... $ 12.10 $ 9.31 $ 8.32 $ 7.83 $ 6.57 -------- -------- -------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A).......................................... 0.19 0.18 0.14 0.11 0.10 Net Gains (Losses) on Securities (Realized and Unrealized)................ 1.29 2.87 0.98 0.48 1.25 -------- -------- -------- -------- -------- Total from Investment Operations......................................... 1.48 3.05 1.12 0.59 1.35 ------------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income..................................................... (0.17) (0.17) (0.13) (0.10) (0.09) Net Realized Gains........................................................ (0.23) (0.09) -- -- -- -------- -------- -------- -------- -------- Total Distributions...................................................... (0.40) (0.26) (0.13) (0.10) (0.09) ------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................................ $ 13.18 $ 12.10 $ 9.31 $ 8.32 $ 7.83 ============================================================================ ======== ======== ======== ======== ======== Total Return................................................................ 12.50% 33.47% 13.63% 7.57% 20.75% ------------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)......................................... $510,366 $411,025 $268,734 $189,172 $120,881 Ratio of Expenses to Average Net Assets..................................... 0.28% 0.30% 0.33% 0.35% 0.33% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)........................................................... 0.28% 0.30% 0.33% 0.35% 0.33% Ratio of Net Investment Income to Average Net Assets........................ 1.47% 1.64% 1.60% 1.28% 1.32% Portfolio Turnover Rate..................................................... 11% 12% 13% 12% 13% ------------------------------------------------------------------------------------------------------------------------------- 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, 2014 2013 2012 2011 2010 ------------------------------------------------------------------------------------------------------------------------------ Net Asset Value, Beginning of Year.......................................... $ 14.81 $ 11.43 $ 10.13 $ 9.57 $ 8.15 -------- -------- -------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A).......................................... 0.23 0.21 0.18 0.14 0.13 Net Gains (Losses) on Securities (Realized and Unrealized)................ 1.91 3.44 1.29 0.56 1.42 -------- -------- -------- -------- -------- Total from Investment Operations......................................... 2.14 3.65 1.47 0.70 1.55 ------------------------------------------------------------------------------------------------------------------------------ Less Distributions ------------------ Net Investment Income..................................................... (0.21) (0.22) (0.17) (0.14) (0.13) Net Realized Gains........................................................ (0.11) (0.05) -- -- -- -------- -------- -------- -------- -------- Total Distributions...................................................... (0.32) (0.27) (0.17) (0.14) (0.13) ------------------------------------------------------------------------------------------------------------------------------ Net Asset Value, End of Year................................................ $ 16.63 $ 14.81 $ 11.43 $ 10.13 $ 9.57 ============================================================================ ======== ======== ======== ======== ======== Total Return................................................................ 14.66% 32.40% 14.60% 7.31% 19.15% ------------------------------------------------------------------------------------------------------------------------------ Net Assets, End of Year (thousands)......................................... $426,547 $297,661 $195,179 $148,066 $127,397 Ratio of Expenses to Average Net Assets..................................... 0.32% 0.33% 0.37% 0.37% 0.37% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)........................................................... 0.32% 0.33% 0.35% 0.35% 0.37% Ratio of Net Investment Income to Average Net Assets........................ 1.44% 1.61% 1.63% 1.39% 1.46% Portfolio Turnover Rate..................................................... 7% 2% 9% 14% 6% ------------------------------------------------------------------------------------------------------------------------------ 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, 2014 2013 2012 2011 2010 --------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year.......................................... $ 9.79 $ 7.89 $ 7.73 $ 8.39 $ 7.70 -------- -------- -------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A).......................................... 0.30 0.23 0.23 0.23 0.17 Net Gains (Losses) on Securities (Realized and Unrealized)................ (0.33) 1.90 0.15 (0.66) 0.68 -------- -------- -------- -------- -------- Total from Investment Operations......................................... (0.03) 2.13 0.38 (0.43) 0.85 --------------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income..................................................... (0.28) (0.23) (0.21) (0.23) (0.16) Net Realized Gains........................................................ (0.02) -- (0.01) -- -- -------- -------- -------- -------- -------- Total Distributions...................................................... (0.30) (0.23) (0.22) (0.23) (0.16) --------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................................ $ 9.46 $ 9.79 $ 7.89 $ 7.73 $ 8.39 ============================================================================ ======== ======== ======== ======== ======== Total Return................................................................ (0.43)% 27.38% 5.18% (5.41)% 11.29% --------------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)......................................... $327,847 $206,602 $145,055 $116,447 $106,545 Ratio of Expenses to Average Net Assets..................................... 0.49% 0.52% 0.57% 0.57% 0.57% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)........................................................... 0.49% 0.50% 0.56% 0.54% 0.55% Ratio of Net Investment Income to Average Net Assets........................ 2.98% 2.57% 2.96% 2.66% 2.15% Portfolio Turnover Rate..................................................... 3% 2% 11% 13% 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, 2014 2013 2012 2011 2010 --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year.......................................... $ 9.69 $ 7.82 $ 7.89 $ 8.87 $ 8.22 ------- ------- ------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A).......................................... 0.38 0.24 0.26 0.27 0.19 Net Gains (Losses) on Securities (Realized and Unrealized)................ (0.46) 1.89 (0.08) (0.99) 0.64 ------- ------- ------- ------- ------- Total from Investment Operations......................................... (0.08) 2.13 0.18 (0.72) 0.83 --------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income..................................................... (0.38) (0.26) (0.25) (0.26) (0.18) Net Realized Gains........................................................ (0.05) -- -- -- -- ------- ------- ------- ------- ------- Total Distributions...................................................... (0.43) (0.26) (0.25) (0.26) (0.18) --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................................ $ 9.18 $ 9.69 $ 7.82 $ 7.89 $ 8.87 ============================================================================ ======== ======== ======== ======== ======== Total Return................................................................ (1.05)% 27.77% 2.61% (8.37)% 10.49% --------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)......................................... $71,494 $77,688 $59,092 $52,927 $64,645 Ratio of Expenses to Average Net Assets..................................... 0.55% 0.60% 0.60% 0.60% 0.60% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)........................................................... 0.54% 0.56% 0.62% 0.61% 0.62% Ratio of Net Investment Income to Average Net Assets........................ 3.94% 2.75% 3.43% 2.99% 2.30% Portfolio Turnover Rate..................................................... 23% 16% 16% 21% 23% --------------------------------------------------------------------------------------------------------------------------- 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, Year 2012(a) Ended to Oct. 31, Oct. 31, 2014 2013 -------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period.................................. $ 12.30 $ 10.00 -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)..................................... 0.35 0.27 Net Gains (Losses) on Securities (Realized and Unrealized)........... (0.50) 2.27 -------- -------- Total from Investment Operations................................... (0.15) 2.54 -------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income................................................ (0.35) (0.24) Net Realized Gains................................................... (0.04) -- -------- -------- Total Distributions................................................ (0.39) (0.24) -------------------------------------------------------------------------------------------------- Net Asset Value, End of Period........................................ $ 11.76 $ 12.30 ===================================================================== ======== ======== Total Return.......................................................... (1.40)% 25.81%(C) -------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)................................. $306,772 $148,856 Ratio of Expenses to Average Net Assets............................... 0.53% 0.60%(B)(D) Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly).................................... 0.50% 0.68%(B)(D) Ratio of Net Investment Income to Average Net Assets.................. 2.78% 2.44%(B)(D) Portfolio Turnover Rate............................................... 5% 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, 2014 2013 2012 2011 2010 ------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period.................................. $ 12.92 $ 12.55 $ 12.33 $ 14.80 $ 11.51 -------- -------- -------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)..................................... 0.26 0.24 0.24 0.28 0.20 Net Gains (Losses) on Securities (Realized and Unrealized)........... (0.13) 0.72 0.17 (1.85) 3.29 -------- -------- -------- -------- -------- Total from Investment Operations................................... 0.13 0.96 0.41 (1.57) 3.49 ------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income................................................ (0.25) (0.23) (0.19) (0.30) (0.20) Net Realized Gains................................................... -- (0.36) -- (0.60) -- -------- -------- -------- -------- -------- Total Distributions................................................ (0.25) (0.59) (0.19) (0.90) (0.20) ------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period........................................ $ 12.80 $ 12.92 $ 12.55 $ 12.33 $ 14.80 ===================================================================== ======== ======== ======== ======== ======== Total Return.......................................................... 0.98% 7.74% 3.41% (11.29)% 30.63% ------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)................................. $903,396 $764,187 $457,311 $435,565 $615,735 Ratio of Expenses to Average Net Assets............................... 0.63% 0.66% 0.75% 0.70% 0.67% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly).................................... 0.63% 0.66% 0.75% 0.71% 0.67% Ratio of Net Investment Income to Average Net Assets.................. 2.04% 1.94% 1.92% 1.99% 1.57% Portfolio Turnover Rate............................................... 10% 2% 44% 28% 14% ------------------------------------------------------------------------------------------------------------------------- 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-seven 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-one 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 ask prices which approximates 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, 2:00 a.m. ET), which is fourteen hours before the close of the NYSE (normally, 4:00 p.m. ET) 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. For the year ended October 31, 2014, there were no significant transfers between Level 1 and Level 2 and no significant 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. Contributions made under the Plan and the change in unrealized appreciation (depreciation) and income are included in Directors'/Trustees' Fees & Expenses. 45 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, 2014, 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, 2014, 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% Pursuant to an Amended Fee Waiver and/or Expense Assumption Agreement (the "Fee Waiver 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 Agreement for the Portfolios below will remain in effect through February 28, 2015, and may only be terminated by the Fund's Board of Directors prior to that date. The Fee Waiver Agreement shall continue in effect from year to year thereafter unless terminated by the Fund or the Advisor. For the year ended October 31, 2014, 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 46 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% -- -- International Sustainability Core 1 Portfolio (2). 0.57% -- -- DFA International Value ex Tobacco Portfolio (3).. 0.60% $ 8 -- International Social Core Equity Portfolio (2).... 0.60% 74 -- 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 the Portfolio's custody expenses. Custody expense in the accompanying financial statements is presented before reduction for credits. During the year ended October 31, 2014, expenses reduced were as follows (amounts in thousands): Fees Paid Indirectly ---------- International Sustainability Core 1 Portfolio. $ 2 DFA International Value ex Tobacco Portfolio.. -- International Social Core Equity Portfolio.... 2 Emerging Markets Social Core Equity Portfolio. 3 47 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, 2014, the total related amounts paid by the Fund to the CCO were $262 (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, 2014, 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........... $ 6 U.S. Sustainability Core 1 Portfolio.......... 6 International Sustainability Core 1 Portfolio. 4 DFA International Value ex Tobacco Portfolio.. 2 International Social Core Equity Portfolio.... 1 Emerging Markets Social Core Equity Portfolio. 20 E. Purchases and Sales of Securities: For the year ended October 31, 2014, 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........... $106,966 $50,723 U.S. Sustainability Core 1 Portfolio.......... 112,045 25,460 International Sustainability Core 1 Portfolio. 140,298 8,494 DFA International Value ex Tobacco Portfolio.. 17,275 20,742 International Social Core Equity Portfolio.... 185,422 11,128 Emerging Markets Social Core Equity Portfolio. 232,439 84,257 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, 2014, primarily attributable to net foreign currency gains/losses, foreign capital gains tax, tax equalization, non-deductible expenses, and realized gains on securities considered to be "passive foreign investment companies", 48 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........... $966 $(372) $ (594) U.S. Sustainability Core 1 Portfolio.......... 354 (176) (178) International Sustainability Core 1 Portfolio. 64 (12) (52) DFA International Value ex Tobacco Portfolio.. 11 (14) 3 International Social Core Equity Portfolio.... 133 (108) (25) Emerging Markets Social Core Equity Portfolio. 519 891 (1,410) The tax character of dividends and distributions declared and paid during the years ended October 31, 2013 and October 31, 2014 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 2013.......................................... $ 5,251 $ 2,745 $ 7,996 2014.......................................... 6,640 7,238 13,878 U.S. Sustainability Core 1 Portfolio 2013.......................................... 3,999 913 4,912 2014.......................................... 4,853 2,133 6,986 International Sustainability Core 1 Portfolio 2013.......................................... 4,537 -- 4,537 2014.......................................... 7,784 454 8,238 DFA International Value ex Tobacco Portfolio 2013.......................................... 2,014 -- 2,014 2014.......................................... 2,984 380 3,364 International Social Core Equity Portfolio 2013.......................................... 1,606 -- 1,606 2014.......................................... 5,742 12 5,754 Emerging Markets Social Core Equity Portfolio 2013.......................................... 11,666 14,105 25,771 2014.......................................... 16,053 -- 16,053 At October 31, 2014, 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........... $389 $577 $966 U.S. Sustainability Core 1 Portfolio.......... 162 192 354 International Sustainability Core 1 Portfolio. 64 -- 64 DFA International Value ex Tobacco Portfolio.. 9 2 11 International Social Core Equity Portfolio.... 106 27 133 Emerging Markets Social Core Equity Portfolio. 374 -- 374 49 At October 31, 2014, the components of distributable earnings (accumulated losses) were as follows (amounts in thousands): Undistributed Total Net Net Investment Distributable Income Undistributed Unrealized Earnings and Short-Term Long-Term Capital Loss Appreciation (Accumulated Capital Gains Capital Gains Carryforward (Depreciation) Losses) -------------- ------------- ------------ -------------- ------------- U.S. Social Core Equity 2 Portfolio........... $ 962 $9,854 -- $149,313 $160,129 U.S. Sustainability Core 1 Portfolio.......... 692 5,861 -- 136,540 143,093 International Sustainability Core 1 Portfolio. 947 -- $ (564) 25,456 25,839 DFA International Value ex Tobacco Portfolio.. 290 570 -- 2,113 2,973 International Social Core Equity Portfolio.... 978 1,447 -- (2,947) (522) Emerging Markets Social Core Equity Portfolio. 4,211 -- (10,339) 79,212 73,084 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. Unlimited Total --------- ------- U.S. Social Core Equity 2 Portfolio........... -- -- U.S. Sustainability Core 1 Portfolio.......... -- -- International Sustainability Core 1 Portfolio. $ 564 $ 564 DFA International Value ex Tobacco Portfolio.. -- -- International Social Core Equity Portfolio.... -- -- Emerging Markets Social Core Equity Portfolio. 10,339 10,339 During the year ended October 31, 2014, each Portfolio did not utilize capital loss carryforwards. At October 31, 2014, 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, as follows (amounts in thousands): Net Unrealized Federal Unrealized Unrealized Appreciation Tax Cost Appreciation Depreciation (Depreciation) -------- ------------ ------------ -------------- U.S. Social Core Equity 2 Portfolio........... $427,690 $159,681 $(10,368) $149,313 U.S. Sustainability Core 1 Portfolio.......... 337,290 142,141 (5,601) 136,540 International Sustainability Core 1 Portfolio. 324,164 49,363 (23,895) 25,468 DFA International Value ex Tobacco Portfolio.. 73,283 9,270 (7,149) 2,121 International Social Core Equity Portfolio.... 333,110 19,855 (22,783) (2,928) Emerging Markets Social Core Equity Portfolio. 888,902 170,682 (91,489) 79,193 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 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 Portfolio's federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service. 50 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. 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. 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. 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. At October 31, 2014, the Portfolios had no outstanding futures contracts. The following is a summary of the location on the International Social Core Equity Portfolio's Statement of Operations of realized gains and losses from the Portfolio's derivative instrument holdings through the year ended October 31, 2014: Derivative Type Location of Gain (Loss) on Derivatives Recognized in Income --------------- ----------------------------------------------------------- Equity contracts Net Realized Gain (Loss) on: Futures The following is a summary of the location of realized gains and losses from the International Social Core Equity Portfolio's derivative instrument holdings categorized by primary risk exposure through the year ended October 31, 2014 (amounts in thousands): Realized Gain (Loss) on Derivatives Recognized in Income ------------------------------- Total Equity Contracts ----- ---------------- International Social Core Equity Portfolio*. $(12) $(12) * As of October 31, 2014, there were no futures contracts outstanding. During the year ended October 31, 2014, the Portfolios had limited activity in futures contracts. H. 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 51 credit. The agreement for the discretionary line of credit may be terminated by either party at any time. The agreement for the line of credit expires on March 2, 2015. The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit 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 line of credit agreement expires on January 9, 2015. For the year ended October 31, 2014, 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........... 0.85% $ 804 49 $ 1 $3,477 U.S. Sustainability Core 1 Portfolio.......... 0.84% 200 5 -- 255 International Sustainability Core 1 Portfolio. 0.83% 482 3 -- 482 DFA International Value ex Tobacco Portfolio.. 0.83% 363 46 -- 2,833 International Social Core Equity Portfolio.... 0.84% 444 16 -- 1,140 Emerging Markets Social Core Equity Portfolio. 0.84% 2,586 37 2 9,215 * Number of Days Outstanding represents the total of single or consecutive days during the year ended October 31, 2014, 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, 2014. I. Securities Lending: As of October 31, 2014, 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 ------- U.S. Social Core Equity 2 Portfolio........... $ 1,476 U.S. Sustainability Core 1 Portfolio.......... 1,092 International Sustainability Core 1 Portfolio. 423 DFA International Value ex Tobacco Portfolio.. 205 International Social Core Equity Portfolio.... 396 Emerging Markets Social Core Equity Portfolio. 34,819 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. 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. In the event of the 52 bankruptcy of the borrower, a Portfolio could experience delay in recovering the loaned securities or only recover cash or a security of equivalent value. 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. Other: At October 31, 2014, 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 71% U.S. Sustainability Core 1 Portfolio.......... 4 89% International Sustainability Core 1 Portfolio. 5 88% DFA International Value ex Tobacco Portfolio.. 3 95% International Social Core Equity Portfolio.... 6 66% Emerging Markets Social Core Equity Portfolio. 5 43% L. 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. 53 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors of DFA Investment Dimensions Group Inc. and Shareholders of the Portfolios, as defined: 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, 2014, 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, 2014 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 19, 2014 54 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 Strategy Committee (the "Strategy 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, 2014. 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, 2014. Each Board's Strategy Committee consists of both interested and disinterested Trustees/Directors. The Strategy Committee is comprised of John P. Gould, Edward P. Lazear, Myron S. Scholes and Eduardo A. Repetto. The Strategy 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 Strategy 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 Strategy Committee was formed on December 17, 2010, and there were two Strategy Committee meetings held during the fiscal year ended October 31, 2014. 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. 55 Name, Position Portfolios within the DFA Principal Occupation(s) During Past 5 with the Fund, Address Term of Office/1/ and Fund Complex/2/ Years and Other Directorships of Public and Year of Birth Length of Service Overseen Companies Held ------------------------------------------------------------------------------------------------------------------------ Disinterested Trustees/Directors ------------------------------------------------------------------------------------------------------------------------ George M. Constantinides DFAIDG-Since 1983 108 portfolios in 4 Leo Melamed Professor of Finance, Director of DFAIDG and DIG. DIG-Since 1993 investment companies University of Chicago Booth School of Trustee of DFAITC and DEM. DFAITC-Since 1992 Business. The University of Chicago DEM-Since 1993 Booth School of Business 5807 S. Woodlawn Avenue Chicago, IL 60637 1947 ------------------------------------------------------------------------------------------------------------------------ John P. Gould DFAIDG-Since 1986 108 portfolios in 4 Steven G. Rothmeier Professor and Director of DFAIDG and DIG. DIG-Since 1993 investment companies Distinguished Service Professor of Trustee of DFAITC and DEM DFAITC-Since 1992 Economics, University of Chicago Booth The University of Chicago DEM-Since 1993 School of Business (since 1965). Member Booth School of Business and Chair, Competitive Markets Advisory 5807 S. Woodlawn Avenue Council, Chicago Mercantile Exchange Chicago, IL 60637 (futures trading exchange) (since 1939 2004). Trustee, Harbor Fund (registered investment company) (29 Portfolios) (since 1994). Formerly, Member of the Board of Milwaukee Insurance Company (1997-2010). ------------------------------------------------------------------------------------------------------------------------ Roger G. Ibbotson DFAIDG-Since 1981 108 portfolios in 4 Professor in Practice of Finance, Yale Director of DFAIDG and DIG. DIG-Since 1993 investment companies School of Management (since 1984). Trustee of DFAITC and DEM. DFAITC-Since 1992 Chairman, CIO and Partner, Zebra Yale School of Management DEM-Since 1993 Capital Management, LLC (hedge fund and P.O. Box 208200 asset manager) (since 2001). Consultant New Haven, CT 06520-8200 to Morningstar Inc. (since 2006). 1943 Formerly, Director, BIRR Portfolio Analysis, Inc. (software products) (1990-2010). ------------------------------------------------------------------------------------------------------------------------ Edward P. Lazear DFAIDG-Since 2010 108 portfolios in 4 Morris Arnold Cox Senior Fellow, Hoover Director of DFAIDG and DIG. DIG-Since 2010 investment companies Institution (since 2002). Jack Steele Trustee of DFAITC and DEM. DFAITC-Since 2010 Parker Professor of Human Resources Stanford University Graduate DEM-Since 2010 Management and Economics, Graduate School of Business School of Business, Stanford University 518 Memorial Way (since 1995). Cornerstone Research Stanford, CA 94305-5015 (expert testimony and economic and 1948 financial analysis) (since 2009). Formerly, 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 DFAIDG-Since 1981 108 portfolios in 4 Chief Investment Strategist, Janus Director of DFAIDG and DIG. DIG-Since 1993 investment companies Capital Group Inc. (since 2014). Frank Trustee of DFAITC and DEM. DFAITC-Since 1992 E. Buck Professor of Finance Emeritus, c/o Dimensional Fund DEM-Since 1993 Graduate School of Business, Stanford Advisors, LP University (since 1981). Chairman, 6300 Bee Cave Road Ruapay Inc. (since 2013). Formerly, Building 1 Chairman, Platinum Grove Asset Austin, TX 78746 Management, L.P. (hedge fund) 1941 (formerly, Oak Hill Platinum Partners) (1999-2009). Formerly, Director, American Century Fund Complex (registered investment companies) (43 Portfolios) (1980-2014). ------------------------------------------------------------------------------------------------------------------------ Abbie J. Smith DFAIDG-Since 2000 108 portfolios in 4 Boris and Irene Stern Distinguished Director of DFAIDG and DIG. DIG-Since 2000 investment companies Service Professor of Accounting, Trustee of DFAITC and DEM. DFAITC-Since 2000 University of Chicago Booth School of The University of Chicago DEM-Since 2000 Business (since 1980). Director, HNI Booth School of Business Corporation (formerly known as HON 5807 S. Woodlawn Industries Inc.) (office furniture) Avenue Chicago, IL 60637 (since 2000). Director, Ryder System 1953 Inc. (transportation, logistics and supply-chain management) (since 2003). Trustee, UBS Funds (4 investment companies within the fund complex) (33 portfolios) (since 2009). Formerly, Co-Director Investment Research, Fundamental Investment Advisors (hedge fund) (2008-2011). ------------------------------------------------------------------------------------------------------------------------ 56 Name, Position Portfolios within the with the Fund, Address Term of Office/1/ and DFA Fund Complex/2/ Principal Occupation(s) During Past 5 Years and and Year of Birth Length of Service Overseen Other Directorships of Public Companies Held -------------------------------------------------------------------------------------------------------------------------------- Interested Trustees/Directors* -------------------------------------------------------------------------------------------------------------------------------- David G. Booth DFAIDG-Since 1981 108 portfolios in 4 Chairman, Director/Trustee, President, Co-Chief Chairman, Director/Trustee, DIG-Since 1992 investment companies Executive Officer and formerly, Chief Executive President and Co-Chief DFAITC-Since 1992 Officer (until 1/1/2010) of the following companies: Executive Officer DEM-Since 1993 Dimensional Holdings Inc., Dimensional Fund 6300 Bee Cave Road, Advisors LP, DFA Securities LLC, DEM, DFAIDG, Building One DIG and DFAITC (collectively, the "DFA Entities"). Austin, TX 78746 Director of Dimensional Fund Advisors Ltd. and 1946 formerly, Chief Investment Officer. Director of DFA Australia Limited and formerly, President and Chief Investment Officer. Director of Dimensional Advisors Ltd., Dimensional Funds plc and Dimensional Funds II plc. Formerly, President, Dimensional SmartNest (US) LLC (2009-2014). Formerly, Limited Partner, Oak Hill Partners (2001- 2010). Limited Partner, VSC Investors, LLC (since 2007). Trustee, University of Chicago. Trustee, University of Kansas Endowment Association. Formerly, Director, SA Funds (registered investment company). Chairman, Director and Co- Chief Executive Officer of Dimensional Fund Advisors Canada ULC. Director and President (since 2012) of Dimensional Japan Ltd. Chairman, Director, President and Co-Chief Executive Officer of Dimensional Cayman Commodity Fund I Ltd. (since 2010). -------------------------------------------------------------------------------------------------------------------------------- Eduardo A. Repetto DFAIDG-Since 2009 108 portfolios in 4 Co-Chief Executive Officer (beginning January Director/Trustee, Co-Chief DIG-Since 2009 investment companies 2010), Co-Chief Investment Officer (since June Executive Officer and Co- DFAITC-Since 2009 2014), Director/Trustee, and formerly, Chief Chief Investment Officer DEM-Since 2009 Investment Officer (March 2007 - June 2014) of the 6300 Bee Cave Road, DFA Entities. Director, Co-Chief Executive Officer Building One and Chief Investment Officer (since 2010) of Austin, TX 78746 Dimensional Cayman Commodity Fund I Ltd. 1967 Director, Co-Chief Executive Officer, President and Co-Chief Investment Officer of Dimensional Fund Advisors Canada ULC and formerly, Chief Investment Officer (until April 2014). Co-Chief Investment Officer, Vice President, and Director of DFA Australia Limited and formerly, Chief Investment Officer (until April 2014). Director of Dimensional Fund Advisors Ltd., Dimensional Funds plc, Dimensional Funds II plc and Dimensional Advisors Ltd. Formerly, Vice President of the DFA Entities and Dimensional Fund Advisors Canada ULC. Director and Chief Investment Officer (since December 2012) of Dimensional Japan Ltd. /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 DFAIDG, DIG; DFAITC and DEM. Each disinterested Trustee/Director also serves on the Independent Review Committee of the Dimensional Funds, mutual funds registered in the provinces of Canada and managed by an affiliate of Dimensional Fund Advisors LP (the "Advisor"), Dimensional Fund Advisors Canada ULC. * 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 the Advisor. 57 Officers Below is the name, year of birth, information regarding positions with the Funds and the principal occupation for each officer of the Funds. The address of each officer is 6300 Bee Cave Road, Building One, Austin, TX 78746. Each of the officers listed below holds the same office (except as otherwise noted) in the DFA Entities. Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation(s) During Past 5 Years ---------------------------------------------------------------------------------------------------------------------- Officers ---------------------------------------------------------------------------------------------------------------------- April A. Aandal Vice President Since 2008 Vice President of all the DFA Entities. 1963 ---------------------------------------------------------------------------------------------------------------------- Robyn G. Alcorta Vice President Since 2012 Vice President of all the DFA Entities. Formerly, Vice 1974 President, Business Development at Capson Physicians Insurance Company (2010-2012); Vice President at Charles Schwab (2007-2010). ---------------------------------------------------------------------------------------------------------------------- Darryl D. Avery Vice President Since 2005 Vice President of all the DFA Entities. 1966 ---------------------------------------------------------------------------------------------------------------------- Arthur H. Barlow Vice President Since 1993 Vice President of all the DFA Entities. Director and 1955 Managing Director of Dimensional Fund Advisors Ltd (since September 2013). ---------------------------------------------------------------------------------------------------------------------- Peter Bergan Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Senior Infrastructure Manager for Dimensional Fund Advisors LP (January 2011-January 2014); Partner at Stonehouse Consulting (2010). ---------------------------------------------------------------------------------------------------------------------- Lana Bergstein Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Client Service Manager for Dimensional Fund Advisors LP (February 2008-January 2014). ---------------------------------------------------------------------------------------------------------------------- Stanley W. Black Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1970 Senior Research Associate (January 2012-January 2014) and Research Associate (2006-2011) for Dimensional Fund Advisors LP ---------------------------------------------------------------------------------------------------------------------- Aaron T. Borders Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1973 Regional Director for Dimensional Fund Advisors LP (April 2008-January 2014). ---------------------------------------------------------------------------------------------------------------------- Scott A. Bosworth Vice President Since 2007 Vice President of all the DFA Entities. 1968 ---------------------------------------------------------------------------------------------------------------------- Valerie A. Brown Vice President and Since 2001 Vice President and Assistant Secretary of all the 1967 Assistant Secretary DFA Entities, DFA Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Cayman Commodity Fund I Ltd., Dimensional Fund Advisors Pte. and Dimensional Hong Kong Limited. Director, Vice President and Assistant Secretary of Dimensional Fund Advisors Canada ULC. ---------------------------------------------------------------------------------------------------------------------- David P. Butler Vice President Since 2007 Vice President of all the DFA Entities. Head of 1964 Global Financial Services for Dimensional Fund Advisors LP (since 2008). ---------------------------------------------------------------------------------------------------------------------- Douglas M. Byrkit Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1970 Regional Director for Dimensional Fund Advisors LP (December 2010-January 2012); Regional Director at Russell Investments (April 2006-December 2010). ---------------------------------------------------------------------------------------------------------------------- Hunt M. Cairns Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1973 Regional Director (January 2010-January 2014) and Senior Associate (July 2008-December 2009) for Dimensional Fund Advisors LP. ---------------------------------------------------------------------------------------------------------------------- James G. Charles Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1956 Regional Director for Dimensional Fund Advisors LP (2008-2010). ---------------------------------------------------------------------------------------------------------------------- 58 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------------- Joseph H. Chi Vice President Since 2009 Vice President of all the DFA Entities. Co-Head of 1966 Portfolio Management (since March 2012) and Senior Portfolio Manager (since January 2012) for Dimensional Fund Advisors LP. Formerly, Portfolio Manager for Dimensional Fund Advisors LP (October 2005 to January 2012). ------------------------------------------------------------------------------------------------------------------------- Pil Sun Choi Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1972 Counsel for Dimensional Fund Advisors LP (April 2012 - January 2014); Vice President and Counsel for AllianceBernstein L.P. (2006-2012). ------------------------------------------------------------------------------------------------------------------------- Stephen A. Clark Vice President Since 2004 Vice President of all the DFA Entities, DFA Australia 1972 Limited and Dimensional Fund Advisors Canada ULC. Head of Global Institutional Services for Dimensional Fund Advisors LP (since January 2014). Formerly, Head of Institutional, North America (March 2012 to December 2013) and Head of Portfolio Management (January 2006 to March 2012) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- Matt B. Cobb Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (September 2011-March 2013); Vice President at MullinTBG (2005-2011). ------------------------------------------------------------------------------------------------------------------------- Rose C. Cooke Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (August 2010-March 2014); Vice President, Sales and Business Development at AdvisorsIG (PPMG) (2009-2010); Vice President at Credit Suisse (2007- 2009). ------------------------------------------------------------------------------------------------------------------------- Ryan Cooper Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1979 Regional Director for Dimensional Fund Advisors LP (2003-March 2014). ------------------------------------------------------------------------------------------------------------------------- Jeffrey D. Cornell Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1976 Regional Director for Dimensional Fund Advisors LP (August 2002-January 2012). ------------------------------------------------------------------------------------------------------------------------- Robert P. Cornell Vice President Since 2007 Vice President of all the DFA Entities. 1949 ------------------------------------------------------------------------------------------------------------------------- George H. Crane Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1955 Senior Vice President and Managing Director at State Street Bank & Trust Company (2007-2008). ------------------------------------------------------------------------------------------------------------------------- Christopher S. Crossan Vice President and Since 2004 Vice President and Chief Compliance Officer of all 1965 Global Chief the DFA Entities, DFA Australia Limited, and Compliance Officer Dimensional Fund Advisors Ltd. Chief Compliance Officer of Dimensional Fund Advisors Canada. Formerly, Vice President and Chief Compliance Officer for Dimensional SmartNest (US) LLC (October 2010- 2014). ------------------------------------------------------------------------------------------------------------------------- James L. Davis Vice President Since 1999 Vice President of all the DFA Entities. 1956 ------------------------------------------------------------------------------------------------------------------------- Robert T. Deere Vice President Since 1994 Vice President of all the DFA Entities, DFA Australia 1957 Limited and Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------------- Johnathon K. DeKinder Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1979 Regional Director (January 2012-January 2014) and Senior Associate (August 2010-December 2011) for Dimensional Fund Advisors LP; MBA and MPA at the University of Texas at Austin (August 2007-May 2010). ------------------------------------------------------------------------------------------------------------------------- Peter F. Dillard Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1972 Research Associate (August 2008-March 2010) and Research Assistant (April 2006-August 2008) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- 59 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ----------------------------------------------------------------------------------------------------------------------- Robert W. Dintzner Vice President Since 2001 Vice President of all the DFA Entities. 1970 ----------------------------------------------------------------------------------------------------------------------- Karen M. Dolan Vice President Since 2014 Vice President of all the DFA Entities. Head of 1979 Marketing for Dimensional Fund Advisors LP (since February 2013). Formerly, Senior Manager of Research and Marketing for Dimensional Fund Advisors LP (June 2012-January 2013); Director of Mutual Fund Analysis at Morningstar (January 2008- May 2012). ----------------------------------------------------------------------------------------------------------------------- Richard A. Eustice Vice President and Since 1998 Vice President and Assistant Secretary of all the 1965 Assistant Secretary DFA Entities and DFA Australia Limited. Chief Operating Officer for Dimensional Fund Advisors Pte. Ltd. (since April 2013). Formerly, Chief Operating Officer for Dimensional Fund Advisors Ltd. (July 2008-March 2013). ----------------------------------------------------------------------------------------------------------------------- Gretchen A. Flicker Vice President Since 2004 Vice President of all the DFA Entities. 1971 ----------------------------------------------------------------------------------------------------------------------- Jed S. Fogdall Vice President Since 2008 Vice President of all the DFA Entities. Co-Head of 1974 Portfolio Management (since March 2012) and Senior Portfolio Manager (since January 2012) for Dimensional Fund Advisors LP. Formerly, Portfolio Manager for Dimensional Fund Advisors LP (September 2004-January 2012). ----------------------------------------------------------------------------------------------------------------------- Edward A. Foley Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1976 Regional Director for Dimensional Fund Advisors LP (August 2011-January 2014); Senior Vice President of First Trust Advisors L.P. (2007-July 2011). ----------------------------------------------------------------------------------------------------------------------- Jeremy P. Freeman Vice President Since 2009 Vice President of all the DFA Entities. 1970 ----------------------------------------------------------------------------------------------------------------------- Mark R. Gochnour Vice President Since 2007 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Tom M. Goodrum Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1968 Managing Director at BlackRock (2004-January 2012). ----------------------------------------------------------------------------------------------------------------------- Henry F. Gray Vice President Since 2000 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- John T. Gray Vice President Since 2007 Vice President of all the DFA Entities. 1974 ----------------------------------------------------------------------------------------------------------------------- Christian Gunther Vice President Since 2011 Vice President of all the DFA Entities. Senior Trader 1975 for Dimensional Fund Advisors LP (since 2012). Formerly, Senior Trader (2009-2012). ----------------------------------------------------------------------------------------------------------------------- Robert W. Hawkins Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Counsel for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President and Senior Counsel for State Street Global Advisors (November 2008-January 2011). ----------------------------------------------------------------------------------------------------------------------- Joel H. Hefner Vice President Since 2007 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Julie C. Henderson Vice President and Since 2005 Vice President and Fund Controller of all the DFA 1974 Fund Controller Entities, Dimensional Cayman Commodity Fund I Ltd. and Dimensional Japan Ltd. ----------------------------------------------------------------------------------------------------------------------- Kevin B. Hight Vice President Since 2005 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Christine W. Ho Vice President Since 2004 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Michael C. Horvath Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1960 Managing Director, Co-Head Global Consultant Relations at BlackRock (2004-2011). ----------------------------------------------------------------------------------------------------------------------- 60 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years --------------------------------------------------------------------------------------------------------------------------- Jeff J. Jeon Vice President Since 2004 Vice President of all the DFA Entities and 1973 Dimensional Cayman Commodity Fund I Ltd. --------------------------------------------------------------------------------------------------------------------------- Garret D. Jones Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1971 Manager of Sales and Marketing Systems (January 2011-January 2014) and Project Manager (2007- 2010) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Stephen W. Jones Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1968 Facilities Manager for Dimensional Fund Advisors LP (October 2008-January 2012). --------------------------------------------------------------------------------------------------------------------------- David M. Kavanaugh Vice President Since 2014 Vice President of all the DFA Entities. Head of 1978 Operations for Financial Advisor Services for Dimensional Fund Advisors LP (since July 2014). Formerly, Counsel of Dimensional Fund Advisors LP (August 2011-January 2014); Associate at Andrews Kurth LLP (2006-2011). --------------------------------------------------------------------------------------------------------------------------- Patrick M. Keating Vice President and Since 2003 Vice President of all the DFA Entities, Dimensional 1954 Chief Operating Officer Cayman Commodity Fund I Ltd., Dimensional Japan Ltd. and Dimensional Advisors Ltd. Chief Operating Officer of Dimensional Holdings Inc., DFA Securities LLC, Dimensional Fund Advisors LP, Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan Ltd., Dimensional Advisors Ltd. And Dimensional Fund Advisors Pte. Ltd. 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 Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1977 Regional Director for Dimensional Fund Advisors LP (October 2004-January 2013). --------------------------------------------------------------------------------------------------------------------------- Glenn E. Kemp Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1948 Regional Director for Dimensional Fund Advisors LP (April 2006-January 2012). --------------------------------------------------------------------------------------------------------------------------- David M. Kershner Vice President Since 2010 Vice President of all the DFA Entities. Portfolio 1971 Manager for Dimensional Fund Advisors LP (since June 2004). --------------------------------------------------------------------------------------------------------------------------- Kimberly L. Kiser Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1972 Creative Director for Dimensional Fund Advisors LP (September 2012-January 2014); Vice President and Global Creative Director at Morgan Stanley (2007-2012); Visiting Assistant Professor, Graduate Communications Design at Pratt Institute (2004-2012). --------------------------------------------------------------------------------------------------------------------------- Timothy R. Kohn Vice President Since 2011 Vice President of all the DFA Entities. Head of 1971 Defined Contribution Sales for Dimensional Fund Advisors LP (since August 2010). --------------------------------------------------------------------------------------------------------------------------- Joseph F. Kolerich Vice President Since 2004 Vice President of all the DFA Entities. Senior 1971 Portfolio Manager of Dimensional Fund Advisors LP (since January 2012). Formerly, Portfolio Manager for Dimensional (April 2001-January 2012). --------------------------------------------------------------------------------------------------------------------------- Mark D. Krasniewski Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1981 Senior Associate, Investment Analytics and Data (January 2012-December 2012) and Systems Developer (June 2007-December 2011) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Kahne L. Krause Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1966 Regional Director (May 2010-January 2014) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Stephen W. Kurad Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1968 Regional Director for Dimensional Fund Advisors LP (2007-2010). --------------------------------------------------------------------------------------------------------------------------- 61 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------------- Michael F. Lane Vice President Since 2004 Vice President of all the DFA Entities. Formerly, 1967 Chief Executive Officer for Dimensional SmartNest (US) LLC (July 2012-November 2014). ------------------------------------------------------------------------------------------------------------------------- Francis R. Lao Vice President Since 2011 Vice President of all the DFA Entities. Formerly, Vice 1969 President - Global Operations at Janus Capital Group (2005-2011). ------------------------------------------------------------------------------------------------------------------------- David F. LaRusso Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1978 Senior Trader (January 2010-December 2012) and Trader (2000-2009) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- Juliet H. Lee Vice President Since 2005 Vice President of all the DFA Entities. 1971 ------------------------------------------------------------------------------------------------------------------------- Marlena I. Lee Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1980 Research Associate for Dimensional Fund Advisors LP (July 2008-2010). ------------------------------------------------------------------------------------------------------------------------- John B. Lessley Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1960 Regional Director for Dimensional Fund Advisors LP (January 2008-January 2013). ------------------------------------------------------------------------------------------------------------------------- Apollo D. Lupescu Vice President Since 2009 Vice President of all the DFA Entities. 1969 ------------------------------------------------------------------------------------------------------------------------- Peter Magnusson Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1969 Regional Director for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President at Columbia Management (2004-2010). ------------------------------------------------------------------------------------------------------------------------- Kenneth M. Manell Vice President Since 2010 Vice President of all the DFA Entities and 1972 Dimensional Cayman Commodity Fund I Ltd. Formerly, Counsel for Dimensional Fund Advisors LP (September 2006-January 2010). ------------------------------------------------------------------------------------------------------------------------- Aaron M. Marcus Vice President Since 2008 Vice President of all DFA Entities and Head of 1970 Global Human Resources for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- David R. Martin Vice President, Chief Since 2007 Vice President, Chief Financial Officer and Treasurer 1956 Financial Officer and of all the DFA Entities. Director, Vice President, Treasurer Chief Financial Officer and Treasurer of Dimensional Fund Advisors Ltd., DFA Australia Limited, Dimensional Advisors Pte. Ltd., Dimensional Hong Kong Limited, Dimensional Fund Advisors Canada ULC, and Dimensional Cayman Commodity Fund I Ltd. Director of Dimensional Funds plc and Dimensional Funds II plc. Statutory Auditor of Dimensional Japan Ltd. Formerly, Chief Financial Officer, Treasurer and Vice President of Dimensional SmartNest (US) LLC (October 2010-November 2014). ------------------------------------------------------------------------------------------------------------------------- Bryan R. McClune Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1975 Regional Director of Dimensional Fund Advisors LP (January 2009-January 2014). ------------------------------------------------------------------------------------------------------------------------- Philip P. McInnis Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1984 Regional Director (January 2009-January 2014) and Senior Associate (2011) for Dimensional Fund Advisors LP; Investment Consultant (March 2010- December 2010) and Investment Analyst (December 2007-March 2010) at Towers Watson. ------------------------------------------------------------------------------------------------------------------------- Jonathan G. Nelson Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Manager, Investment Systems (2011-January 2013) and Project Manager (2007-2010) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- 62 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ----------------------------------------------------------------------------------------------------------------------------- Catherine L. Newell Vice President and Vice President since 1997 Vice President and Secretary of all the DFA Entities. 1964 Secretary and Secretary since 2000 Director, Vice President and Secretary 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 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). Director of 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). Formerly, Vice President and Secretary of Dimensional SmartNest (US) LLC (October 2010- November 2014). ----------------------------------------------------------------------------------------------------------------------------- Pamela B. Noble Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1964 Portfolio Manager for Dimensional Fund Advisors LP (2008-2010). ----------------------------------------------------------------------------------------------------------------------------- Selwyn Notelovitz Vice President and Since 2013 Vice President of all the DFA Entities. Deputy Chief 1961 Deputy Chief Compliance Officer of Dimensional Fund Advisors Compliance Officer LP (since December 2012). Formerly, Chief Compliance Officer of Wellington Management Company, LLP (2004-2011). ----------------------------------------------------------------------------------------------------------------------------- Carolyn L. O Vice President Since 2010 Vice President of all the DFA Entities and 1974 Dimensional Cayman Commodity Fund I Ltd. Deputy General Counsel, Funds (since 2011). Formerly, Counsel for Dimensional Fund Advisors LP (2007- 2010). ----------------------------------------------------------------------------------------------------------------------------- Gerard K. O'Reilly Vice President and Co- Vice President since 2007 Vice President and Co-Chief Investment Officer of all 1976 Chief Investment and Co-Chief Investment the DFA Entities and Dimensional Fund Advisors Officer Officer since 2014 Canada ULC. Director of Dimensional Funds plc and Dimensional Fund II plc. ----------------------------------------------------------------------------------------------------------------------------- Daniel C. Ong Vice President Since 2009 Vice President of all the DFA Entities. Portfolio 1973 Manager for Dimensional Fund Advisors LP (since July 2005). ----------------------------------------------------------------------------------------------------------------------------- Kyle K. Ozaki Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1978 Senior Compliance Officer (January 2008-January 2010) and Compliance Officer (February 2006- December 2007) for Dimensional Fund Advisors LP. ----------------------------------------------------------------------------------------------------------------------------- Matthew A. Pawlak Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1977 Regional Director for Dimensional Fund Advisors LP (2012-January 2013); Senior Consultant (June 2011- December 2011) and Senior Investment Analyst and Consultant (July 2008-June 2011) at Hewitt EnnisKnupp. ----------------------------------------------------------------------------------------------------------------------------- David A. Plecha Vice President Since 1993 Vice President of all the DFA Entities, DFA Australia 1961 Limited, Dimensional Fund Advisors Ltd. and Dimensional Fund Advisors Canada ULC. ----------------------------------------------------------------------------------------------------------------------------- Allen Pu Vice President Since 2011 Vice President of all the DFA Entities. Portfolio 1970 Manager for Dimensional Fund Advisors LP (since 2006). ----------------------------------------------------------------------------------------------------------------------------- Theodore W. Randall Vice President Since 2008 Vice President of all the DFA Entities. Formerly, 1973 Research Associate for Dimensional Fund Advisors LP (2006 to 2008). ----------------------------------------------------------------------------------------------------------------------------- David J. Rapozo Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1967 Regional Director for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President at BlackRock (2009-2010). ----------------------------------------------------------------------------------------------------------------------------- Mark A. Regier Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1969 Planning and Analysis Manager for Dimensional Fund Advisors LP (July 2007-January 2014). ----------------------------------------------------------------------------------------------------------------------------- 63 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------ Savina B. Rizova Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1981 Research Associate (June 2011-January 2012) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ L. Jacobo Rodriguez Vice President Since 2005 Vice President of all the DFA Entities. 1971 ------------------------------------------------------------------------------------------------------------------ Oliver J. Rowe Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1960 Senior Manager, Human Resources for Dimensional Fund Advisors LP (January 2012-January 2014); Director of Human Resources at Spansion, Inc. (March 2009-December 2011). ------------------------------------------------------------------------------------------------------------------ Julie A. Saft Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1959 Client Systems Manager for Dimensional Fund Advisors LP (July 2008-January 2010); Senior Manager at Vanguard (November 1997-July 2008). ------------------------------------------------------------------------------------------------------------------ Walid A. Shinnawi Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1961 Regional Director for Dimensional Fund Advisors LP (March 2006-January 2010). ------------------------------------------------------------------------------------------------------------------ Bruce A. Simmons Vice President Since 2009 Vice President of all the DFA Entities. Formerly, 1965 Investment Operations Manager for Dimensional Fund Advisors LP (May 2007-January 2009). ------------------------------------------------------------------------------------------------------------------ Ted R. Simpson Vice President Since 2007 Vice President of all the DFA Entities. 1968 ------------------------------------------------------------------------------------------------------------------ Bhanu P. Singh Vice President Since 2014 Vice President of all the DFA Entities. Portfolio 1981 Manager for Dimensional Fund Advisors LP (since January 2012). Formerly, Investment Associate for Dimensional Fund Advisors LP (August 2010- December 2011). ------------------------------------------------------------------------------------------------------------------ Bryce D. Skaff Vice President Since 2007 Vice President of all the DFA Entities. 1975 ------------------------------------------------------------------------------------------------------------------ Lukas J. Smart Vice President Since 2014 Vice President of all the DFA Entities. Portfolio 1977 Manager of Dimensional Fund Advisors LP (since January 2010). ------------------------------------------------------------------------------------------------------------------ Andrew D. Smith Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1968 Project Manager for Dimensional Fund Advisors LP (2007-2010). ------------------------------------------------------------------------------------------------------------------ Grady M. Smith Vice President Since 2004 Vice President of all the DFA Entities and 1956 Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------ Carl G. Snyder Vice President Since 2000 Vice President of all the DFA Entities. 1963 ------------------------------------------------------------------------------------------------------------------ Lawrence R. Spieth Vice President Since 2004 Vice President of all the DFA Entities. 1947 ------------------------------------------------------------------------------------------------------------------ Richard H. Tatlow V Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (April 2010-January 2013). ------------------------------------------------------------------------------------------------------------------ Blake T. Tatsuta Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1973 Manager, Investment Analytics and Data (2012- January 2013) and Research Assistant (2002-2011) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ Erik T. Totten Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1980 Regional Director (2010-January 2013) and Senior Associate (2007-2009) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ John H. Totten Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1978 Regional Director for Dimensional Fund Advisors LP (January 2008-January 2012). ------------------------------------------------------------------------------------------------------------------ Robert C. Trotter Vice President Since 2009 Vice President of all the DFA Entities. 1958 ------------------------------------------------------------------------------------------------------------------ Karen E. Umland Vice President Since 1997 Vice President of all the DFA Entities, DFA Australia 1966 Limited, Dimensional Fund Advisors Ltd., and Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------ 64 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ---------------------------------------------------------------------------------------------------------------- Benjamin C. Walker Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1979 Regional Director for Dimensional Fund Advisors LP (September 2008-January 2014). ---------------------------------------------------------------------------------------------------------------- Brian J. Walsh Vice President Since 2009 Vice President of all the DFA Entities. Portfolio 1970 Manager for Dimensional Fund Advisors LP (since 2004). ---------------------------------------------------------------------------------------------------------------- Weston J. Wellington Vice President Since 1997 Vice President of all the DFA Entities. 1951 ---------------------------------------------------------------------------------------------------------------- Ryan J. Wiley Vice President Since 2007 Vice President of all the DFA Entities. 1976 ---------------------------------------------------------------------------------------------------------------- Paul E. Wise Vice President Since 2005 Vice President of all the DFA Entities. 1955 ---------------------------------------------------------------------------------------------------------------- Joseph L. Young Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1978 Regional Director for Dimensional Fund Advisors LP (2005-2010). ---------------------------------------------------------------------------------------------------------------- /1/ Each officer holds office for an indefinite term at the pleasure of the Board of Directors and until his or her successor is elected and qualified. 65 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://us.dimensional.com and reflects the twelve-month period beginning July 1st and ending June 30th. 66 NOTICE TO SHAREHOLDERS (Unaudited) For shareholders that do not have an October 31, 2014 tax year end, this notice is for informational purposes only. For shareholders with an October 31, 2014 tax year end, please consult your tax advisor as to the pertinence of this notice. For the fiscal year November 1, 2013 to October 31, 2014, 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) ------------------------------------ ------------- ------------- ------------- ------------- ------------ ---------- U.S. Social Core Equity 2 Portfolio........... 43% 4% 53% 100% 100% 100% U.S. Sustainability Core 1 Portfolio.......... 66% 2% 32% 100% 100% 100% International Sustainability Core 1 Portfolio. 94% -- 6% 100% 100% 100% DFA International Value ex Tobacco Portfolio.. 89% -- 11% 100% 100% 100% International Social Core Equity Portfolio.... 91% 8% 1% 100% 100% 100% Emerging Markets Social Core Equity Portfolio. 99% 1% -- 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. Social Core Equity 2 Portfolio........... -- -- 100% 100% U.S. Sustainability Core 1 Portfolio.......... -- -- 100% 100% International Sustainability Core 1 Portfolio. 5% 100% 100% 100% DFA International Value ex Tobacco Portfolio.. 3% 100% 100% 100% International Social Core Equity Portfolio.... 4% 100% 100% 100% Emerging Markets Social Core Equity Portfolio. 7% 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. (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). 67 [LOGO] DFA103114-014A [LOGO] ANNUAL REPORT year ended: October 31, 2014 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 2014 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 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.................................................. 10 Disclosure of Portfolio Holdings............................................. 12 Schedule of Investments/Summary Schedules of Portfolio Holdings Tax-Managed U.S. Marketwide Value Portfolio.............................. 14 Tax-Managed U.S. Equity Portfolio........................................ 15 Tax-Managed U.S. Targeted Value Portfolio................................ 18 Tax-Managed U.S. Small Cap Portfolio..................................... 21 T.A. U.S. Core Equity 2 Portfolio........................................ 24 Tax-Managed DFA International Value Portfolio............................ 27 T.A. World ex U.S. Core Equity Portfolio................................. 31 Statements of Assets and Liabilities......................................... 37 Statements of Operations..................................................... 39 Statements of Changes in Net Assets.......................................... 41 Financial Highlights......................................................... 43 Notes to Financial Statements................................................ 47 Report of Independent Registered Public Accounting Firm...................... 59 The DFA Investment Trust Company - The Tax-Managed U.S. Marketwide Value Series Performance Chart............................................................ 60 Management's Discussion and Analysis......................................... 61 Disclosure of Fund Expenses.................................................. 62 Disclosure of Portfolio Holdings............................................. 63 Summary Schedule of Portfolio Holdings....................................... 64 Statement of Assets and Liabilities.......................................... 67 Statement of Operations...................................................... 68 Statements of Changes in Net Assets.......................................... 69 Financial Highlights......................................................... 70 Notes to Financial Statements................................................ 71 Report of Independent Registered Public Accounting Firm...................... 76 Fund Management................................................................. 77 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 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. (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 1 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- TAX-MANAGED U.S. MARKETWIDE VALUE PORTFOLIO VS. RUSSELL 3000(R) VALUE INDEX October 31, 2004-October 31, 2014 [CHART] Tax-Managed U.S. Marketwide Russell 3000(R) Value Portfolio Value Index --------------------------- ---------------- 10/31/04 10,000 10,000 11/30/04 10,676 10,538 12/31/04 11,024 10,882 1/31/05 10,782 10,668 2/28/05 11,194 11,010 3/31/05 11,079 10,852 4/30/05 10,675 10,628 5/31/05 11,136 10,915 6/30/05 11,414 11,066 7/31/05 12,030 11,413 8/31/05 12,014 11,344 9/30/05 12,233 11,488 10/31/05 11,932 11,196 11/30/05 12,412 11,570 12/31/05 12,465 11,625 1/31/06 13,160 12,121 2/28/06 13,120 12,189 3/31/06 13,434 12,392 4/30/06 13,762 12,680 5/31/06 13,376 12,342 6/30/06 13,462 12,427 7/31/06 13,379 12,685 8/31/06 13,445 12,912 9/30/06 13,704 13,158 10/31/06 14,232 13,610 11/30/06 14,579 13,928 12/31/06 14,860 14,223 1/31/07 15,242 14,407 2/28/07 15,051 14,187 3/31/07 15,219 14,402 4/30/07 15,760 14,900 5/31/07 16,499 15,438 6/30/07 16,146 15,077 7/31/07 15,262 14,330 8/31/07 15,179 14,501 9/30/07 15,562 14,964 10/31/07 15,570 14,978 11/30/07 14,658 14,215 12/31/07 14,592 14,079 1/31/08 14,012 13,514 2/29/08 13,499 12,950 3/31/08 13,260 12,875 4/30/08 14,005 13,485 5/31/08 14,314 13,501 6/30/08 12,733 12,209 7/31/08 12,630 12,217 8/31/08 12,888 12,455 9/30/08 11,793 11,567 10/31/08 9,156 9,538 11/30/08 8,248 8,820 12/31/08 8,524 8,975 1/31/09 7,413 7,923 2/28/09 6,415 6,861 3/31/09 7,089 7,449 4/30/09 8,312 8,279 5/31/09 8,937 8,763 6/30/09 8,819 8,701 7/31/09 9,713 9,436 8/31/09 10,358 9,926 9/30/09 10,828 10,319 10/31/09 10,304 9,973 11/30/09 10,784 10,516 12/31/09 11,173 10,749 1/31/10 10,861 10,445 2/28/10 11,360 10,788 3/31/10 12,255 11,506 4/30/10 12,729 11,847 5/31/10 11,639 10,870 6/30/10 10,748 10,230 7/31/10 11,608 10,926 8/31/10 10,847 10,430 9/30/10 11,924 11,263 10/31/10 12,382 11,609 11/30/10 12,409 11,576 12/31/10 13,583 12,493 1/31/11 13,917 12,753 2/28/11 14,703 13,238 3/31/11 14,794 13,301 4/30/11 15,138 13,644 5/31/11 14,903 13,491 6/30/11 14,642 13,210 7/31/11 14,015 12,772 8/31/11 12,844 11,948 9/30/11 11,539 11,013 10/31/11 13,143 12,299 11/30/11 13,043 12,238 12/31/11 13,166 12,480 1/31/12 13,854 12,981 2/29/12 14,588 13,472 3/31/12 14,894 13,873 4/30/12 14,618 13,727 5/31/12 13,588 12,919 6/30/12 14,302 13,559 7/31/12 14,422 13,678 8/31/12 14,967 13,984 9/30/12 15,507 14,432 10/31/12 15,553 14,353 11/30/12 15,646 14,351 12/31/12 16,093 14,670 1/31/13 17,159 15,618 2/28/13 17,421 15,839 3/31/13 18,286 16,468 4/30/13 18,408 16,697 5/31/13 19,009 17,131 6/30/13 18,891 16,986 7/31/13 20,039 17,917 8/31/13 19,446 17,228 9/30/13 20,154 17,704 10/31/13 21,108 18,463 11/30/13 21,977 18,995 12/31/13 22,579 19,466 1/31/14 21,688 18,770 2/28/14 22,485 19,585 3/31/14 22,807 20,035 4/30/14 22,864 20,168 5/31/14 23,397 20,451 6/30/14 24,001 21,014 7/31/14 23,619 20,582 Past performance is not predictive of 8/31/14 24,488 21,349 future performance. 9/30/14 23,858 20,831 The returns shown do not reflect the 10/31/14 24,270 21,373 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 Russell data copyright (C) Russell ---------------------------------------------------- Investment Group 1995-2014, all rights 14.98% 18.69% 9.27% reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- TAX-MANAGED U.S. EQUITY PORTFOLIO VS. RUSSELL 3000(R) INDEX October 31, 2004-October 31, 2014 [CHART] Tax-Managed U.S.Equity Russell 3000(R) Portfolio Index --------------------------- ---------------- 10/31/04 10,000 10,000 11/30/04 10,462 10,465 12/31/04 10,823 10,838 1/31/05 10,565 10,549 2/28/05 10,789 10,781 3/31/05 10,607 10,599 4/30/05 10,357 10,369 5/31/05 10,754 10,762 6/30/05 10,821 10,837 7/31/05 11,280 11,282 8/31/05 11,193 11,174 9/30/05 11,288 11,272 10/31/05 11,071 11,061 11/30/05 11,505 11,491 12/31/05 11,501 11,501 1/31/06 11,858 11,885 2/28/06 11,884 11,906 3/31/06 12,075 12,112 4/30/06 12,206 12,243 5/31/06 11,813 11,851 6/30/06 11,812 11,872 7/31/06 11,795 11,861 8/31/06 12,067 12,151 9/30/06 12,340 12,423 10/31/06 12,736 12,870 11/30/06 12,982 13,151 12/31/06 13,155 13,308 1/31/07 13,386 13,561 2/28/07 13,173 13,339 3/31/07 13,326 13,478 4/30/07 13,858 14,016 5/31/07 14,364 14,527 6/30/07 14,126 14,255 7/31/07 13,645 13,769 8/31/07 13,832 13,966 9/30/07 14,323 14,476 10/31/07 14,564 14,741 11/30/07 13,921 14,077 12/31/07 13,846 13,992 1/31/08 13,010 13,144 2/29/08 12,633 12,736 3/31/08 12,565 12,661 4/30/08 13,187 13,294 5/31/08 13,458 13,566 6/30/08 12,395 12,447 7/31/08 12,323 12,348 8/31/08 12,513 12,539 9/30/08 11,371 11,360 10/31/08 9,425 9,345 11/30/08 8,770 8,607 12/31/08 8,927 8,772 1/31/09 8,182 8,036 2/28/09 7,355 7,194 3/31/09 7,958 7,824 4/30/09 8,614 8,648 5/31/09 9,030 9,109 6/30/09 9,077 9,140 7/31/09 9,756 9,852 8/31/09 10,044 10,204 9/30/09 10,450 10,631 10/31/09 10,207 10,358 11/30/09 10,776 10,946 12/31/09 11,083 11,258 1/31/10 10,679 10,852 2/28/10 11,036 11,220 3/31/10 11,725 11,927 4/30/10 11,960 12,185 5/31/10 11,019 11,222 6/30/10 10,394 10,577 7/31/10 11,121 11,311 8/31/10 10,583 10,779 9/30/10 11,589 11,797 10/31/10 12,054 12,258 11/30/10 12,130 12,328 12/31/10 12,944 13,164 1/31/11 13,221 13,452 2/28/11 13,699 13,941 3/31/11 13,761 14,004 4/30/11 14,172 14,421 5/31/11 14,000 14,257 6/30/11 13,768 14,001 7/31/11 13,450 13,680 8/31/11 12,643 12,859 9/30/11 11,706 11,861 10/31/11 13,009 13,227 11/30/11 12,999 13,191 12/31/11 13,097 13,299 1/31/12 13,729 13,970 2/29/12 14,331 14,561 3/31/12 14,759 15,010 4/30/12 14,651 14,912 5/31/12 13,736 13,990 6/30/12 14,262 14,538 7/31/12 14,418 14,682 8/31/12 14,780 15,049 9/30/12 15,179 15,444 10/31/12 14,904 15,177 11/30/12 15,022 15,295 12/31/12 15,191 15,482 1/31/13 16,023 16,332 2/28/13 16,232 16,548 3/31/13 16,867 17,197 4/30/13 17,126 17,478 5/31/13 17,583 17,891 6/30/13 17,368 17,658 7/31/13 18,326 18,626 8/31/13 17,807 18,106 9/30/13 18,456 18,779 10/31/13 19,248 19,577 11/30/13 19,860 20,145 12/31/13 20,381 20,677 1/31/14 19,686 20,024 2/28/14 20,603 20,973 3/31/14 20,733 21,085 4/30/14 20,743 21,110 5/31/14 21,198 21,571 6/30/14 21,718 22,112 7/31/14 21,292 21,676 Past performance is not predictive of 8/31/14 22,175 22,585 future performance. 9/30/14 21,757 22,114 The returns shown do not reflect the 10/31/14 22,307 22,723 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 Russell data copyright (C) Russell ---------------------------------------------------- Investment Group 1995-2014, all rights 15.89% 16.93% 8.35% 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, 2004-October 31, 2014 [CHART] Tax-Managed U.S. Targeted Russell 2000(R) Value Portfolio Value Index --------------------------- ---------------- 10/31/04 10,000 10,000 11/30/04 10,969 10,887 12/31/04 11,388 11,147 1/31/05 11,038 10,716 2/28/05 11,311 10,929 3/31/05 11,053 10,704 4/30/05 10,295 10,152 5/31/05 10,913 10,771 6/30/05 11,350 11,247 7/31/05 12,156 11,887 8/31/05 12,012 11,614 9/30/05 12,088 11,595 10/31/05 11,757 11,304 11/30/05 12,295 11,762 12/31/05 12,319 11,672 1/31/06 13,385 12,637 2/28/06 13,296 12,636 3/31/06 14,017 13,248 4/30/06 14,175 13,284 5/31/06 13,528 12,734 6/30/06 13,533 12,890 7/31/06 13,032 12,711 8/31/06 13,285 13,091 9/30/06 13,420 13,219 10/31/06 14,106 13,892 11/30/06 14,471 14,288 12/31/06 14,641 14,412 1/31/07 14,943 14,628 2/28/07 14,868 14,449 3/31/07 15,048 14,623 4/30/07 15,339 14,775 5/31/07 15,926 15,316 6/30/07 15,686 14,959 7/31/07 14,543 13,686 8/31/07 14,525 13,960 9/30/07 14,531 14,023 10/31/07 14,660 14,176 11/30/07 13,518 13,114 12/31/07 13,390 13,003 1/31/08 12,751 12,470 2/29/08 12,407 11,974 3/31/08 12,519 12,155 4/30/08 12,896 12,539 5/31/08 13,428 12,968 6/30/08 12,163 11,724 7/31/08 12,245 12,325 8/31/08 12,666 12,910 9/30/08 11,584 12,305 10/31/08 9,077 9,847 11/30/08 7,899 8,707 12/31/08 8,334 9,242 1/31/09 7,202 7,922 2/28/09 6,204 6,822 3/31/09 6,768 7,427 4/30/09 8,036 8,606 5/31/09 8,361 8,792 6/30/09 8,325 8,764 7/31/09 9,302 9,778 8/31/09 9,748 10,240 9/30/09 10,265 10,754 10/31/09 9,568 10,040 11/30/09 9,887 10,359 12/31/09 10,637 11,144 1/31/10 10,374 10,817 2/28/10 10,971 11,319 3/31/10 11,860 12,260 4/30/10 12,739 13,118 5/31/10 11,655 12,010 6/30/10 10,600 10,961 7/31/10 11,429 11,744 8/31/10 10,530 10,861 9/30/10 11,773 12,027 10/31/10 12,288 12,493 11/30/10 12,764 12,810 12/31/10 13,874 13,875 1/31/11 13,932 13,882 2/28/11 14,721 14,587 3/31/11 14,992 14,790 4/30/11 15,257 15,030 5/31/11 14,895 14,761 6/30/11 14,599 14,398 7/31/11 14,140 13,922 8/31/11 12,717 12,692 9/30/11 11,204 11,306 10/31/11 12,973 12,935 11/30/11 12,947 12,909 12/31/11 13,074 13,111 1/31/12 13,913 13,983 2/29/12 14,434 14,191 3/31/12 14,729 14,631 4/30/12 14,488 14,419 5/31/12 13,427 13,538 6/30/12 13,958 14,191 7/31/12 13,906 14,046 8/31/12 14,533 14,479 9/30/12 15,003 14,995 10/31/12 14,970 14,807 11/30/12 15,258 14,852 12/31/12 15,805 15,478 1/31/13 16,879 16,401 2/28/13 17,183 16,588 3/31/13 18,013 17,278 4/30/13 17,871 17,262 5/31/13 18,736 17,777 6/30/13 18,604 17,705 7/31/13 19,923 18,843 8/31/13 19,186 18,010 9/30/13 20,262 19,049 10/31/13 21,048 19,669 11/30/13 22,105 20,436 12/31/13 22,738 20,821 1/31/14 21,628 20,016 2/28/14 22,703 20,932 3/31/14 23,012 21,191 4/30/14 22,600 20,646 5/31/14 22,914 20,777 6/30/14 23,851 21,696 7/31/14 22,682 20,384 Past performance is not predictive of 8/31/14 23,872 21,270 future performance. 9/30/14 22,507 19,835 The returns shown do not reflect the 10/31/14 23,384 21,221 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 Russell data copyright (C) Russell ---------------------------------------------------- Investment Group 1995-2014, all rights 11.10% 19.57% 8.87% reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- TAX-MANAGED U.S. SMALL CAP PORTFOLIO VS. RUSSELL 2000(R) INDEX October 31, 2004-October 31, 2014 [CHART] Tax-Managed U.S. Small Russell 2000(R) Cap Portfolio Index --------------------------- ---------------- 10/31/04 10,000 10,000 11/30/04 10,851 10,867 12/31/04 11,295 11,189 1/31/05 10,898 10,722 2/28/05 11,109 10,903 3/31/05 10,792 10,591 4/30/05 10,126 9,985 5/31/05 10,813 10,638 6/30/05 11,198 11,048 7/31/05 11,986 11,748 8/31/05 11,849 11,531 9/30/05 11,960 11,567 10/31/05 11,595 11,208 11/30/05 12,151 11,752 12/31/05 12,158 11,698 1/31/06 13,250 12,747 2/28/06 13,176 12,712 3/31/06 13,782 13,329 4/30/06 13,851 13,326 5/31/06 13,066 12,578 6/30/06 13,009 12,659 7/31/06 12,489 12,247 8/31/06 12,770 12,610 9/30/06 12,858 12,715 10/31/06 13,554 13,447 11/30/06 13,958 13,800 12/31/06 14,040 13,847 1/31/07 14,296 14,078 2/28/07 14,264 13,967 3/31/07 14,459 14,116 4/30/07 14,789 14,370 5/31/07 15,407 14,959 6/30/07 15,249 14,740 7/31/07 14,337 13,732 8/31/07 14,438 14,043 9/30/07 14,677 14,284 10/31/07 14,992 14,694 11/30/07 13,827 13,639 12/31/07 13,811 13,630 1/31/08 12,804 12,701 2/29/08 12,470 12,230 3/31/08 12,471 12,281 4/30/08 12,864 12,796 5/31/08 13,457 13,383 6/30/08 12,395 12,353 7/31/08 12,701 12,810 8/31/08 13,012 13,273 9/30/08 11,815 12,215 10/31/08 9,329 9,674 11/30/08 8,150 8,530 12/31/08 8,503 9,025 1/31/09 7,506 8,021 2/28/09 6,585 7,046 3/31/09 7,225 7,675 4/30/09 8,408 8,862 5/31/09 8,664 9,129 6/30/09 8,877 9,263 7/31/09 9,717 10,155 8/31/09 9,896 10,446 9/30/09 10,428 11,049 10/31/09 9,700 10,299 11/30/09 9,927 10,622 12/31/09 10,736 11,477 1/31/10 10,383 11,054 2/28/10 10,844 11,552 3/31/10 11,712 12,493 4/30/10 12,478 13,200 5/31/10 11,508 12,198 6/30/10 10,624 11,253 7/31/10 11,379 12,026 8/31/10 10,481 11,136 9/30/10 11,783 12,524 10/31/10 12,281 13,036 11/30/10 12,809 13,488 12/31/10 13,807 14,559 1/31/11 13,795 14,522 2/28/11 14,583 15,318 3/31/11 15,036 15,715 4/30/11 15,349 16,130 5/31/11 15,030 15,828 6/30/11 14,788 15,463 7/31/11 14,324 14,904 8/31/11 13,016 13,607 9/30/11 11,568 12,082 10/31/11 13,325 13,910 11/30/11 13,277 13,860 12/31/11 13,387 13,951 1/31/12 14,291 14,937 2/29/12 14,642 15,294 3/31/12 15,061 15,686 4/30/12 14,855 15,444 5/31/12 13,897 14,422 6/30/12 14,504 15,141 7/31/12 14,400 14,932 8/31/12 14,893 15,430 9/30/12 15,409 15,937 10/31/12 15,183 15,591 11/30/12 15,348 15,674 12/31/12 15,870 16,232 1/31/13 16,831 17,248 2/28/13 17,034 17,438 3/31/13 17,828 18,244 4/30/13 17,686 18,177 5/31/13 18,579 18,903 6/30/13 18,587 18,806 7/31/13 19,974 20,123 8/31/13 19,339 19,483 9/30/13 20,565 20,726 10/31/13 21,189 21,248 11/30/13 22,288 22,099 12/31/13 22,754 22,534 1/31/14 21,775 21,910 2/28/14 22,735 22,942 3/31/14 22,891 22,786 4/30/14 22,171 21,902 5/31/14 22,283 22,078 6/30/14 23,235 23,252 7/31/14 21,862 21,845 Past performance is not predictive of 8/31/14 22,918 22,928 future performance. 9/30/14 21,695 21,541 The returns shown do not reflect the 10/31/14 23,008 22,961 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 Russell data copyright (C) Russell --------------------------------------------------- Investment Group 1995-2014, all rights 8.58% 18.86% 8.69% 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, 2014 [CHART] T.A U.S. Core Equity Russell 3000(R) 2 Portfolio Index ------------------------------- ---------------- 10/04/07 10,000 10,000 10/31/07 9,950 10,057 11/30/07 9,400 9,604 12/31/07 9,305 9,546 1/31/08 8,874 8,968 2/29/08 8,613 8,689 3/31/08 8,525 8,638 4/30/08 8,937 9,070 5/31/08 9,189 9,255 6/30/08 8,339 8,492 7/31/08 8,420 8,424 8/31/08 8,642 8,555 9/30/08 7,905 7,750 10/31/08 6,377 6,376 11/30/08 5,810 5,872 12/31/08 5,991 5,985 1/31/09 5,370 5,482 2/28/09 4,748 4,908 3/31/09 5,221 5,338 4/30/09 5,927 5,900 5/31/09 6,183 6,215 6/30/09 6,188 6,236 7/31/09 6,743 6,721 8/31/09 7,021 6,961 9/30/09 7,363 7,253 10/31/09 7,043 7,066 11/30/09 7,363 7,468 12/31/09 7,710 7,681 1/31/10 7,461 7,404 2/28/10 7,772 7,655 3/31/10 8,327 8,137 4/30/10 8,638 8,313 5/31/10 7,942 7,656 6/30/10 7,384 7,216 7/31/10 7,936 7,717 8/31/10 7,457 7,354 9/30/10 8,243 8,048 10/31/10 8,557 8,363 11/30/10 8,703 8,411 12/31/10 9,380 8,981 1/31/11 9,570 9,177 2/28/11 10,001 9,511 3/31/11 10,123 9,554 4/30/11 10,365 9,839 5/31/11 10,197 9,726 6/30/11 9,658 9,333 8/31/11 8,929 8,773 9/30/11 8,082 8,092 10/31/11 9,154 9,024 11/30/11 9,122 8,999 12/31/11 9,197 9,073 1/31/12 9,698 9,531 2/29/12 10,125 9,934 3/31/12 10,367 10,241 4/30/12 10,261 10,174 5/31/12 9,555 9,545 6/30/12 9,933 9,918 7/31/12 9,976 10,017 8/31/12 10,298 10,267 9/30/12 10,607 10,536 10/31/12 10,510 10,355 11/30/12 10,618 10,435 12/31/12 10,846 10,563 1/31/13 11,542 11,142 2/28/13 11,673 11,290 3/31/13 12,166 11,732 4/30/13 12,264 11,924 5/31/13 12,711 12,206 6/30/13 12,596 12,047 7/31/13 13,351 12,708 8/31/13 12,935 12,353 9/30/13 13,490 12,812 10/31/13 14,039 13,356 11/30/13 14,512 13,744 12/31/13 14,919 14,107 1/31/14 14,373 13,661 2/28/14 15,052 14,309 3/31/14 15,214 14,385 4/30/14 15,136 14,402 5/31/14 15,415 14,717 6/30/14 15,896 15,086 7/31/14 15,448 14,788 Past performance is not predictive of 8/31/14 16,098 15,409 future performance. 9/30/14 15,583 15,087 The returns shown do not reflect the 10/31/14 15,988 15,502 deduction of taxes that a shareholder would pay on fund distributions or the Average Annual One Five Since redemption of fund shares. Total Return Year Years inception Russell data copyright (C) Russell ------------------------------------------------------- Investment Group 1995-2014, all rights 13.88% 17.82% 6.86% reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- TAX-MANAGED DFA INTERNATIONAL VALUE PORTFOLIO VS. MSCI WORLD EX USA INDEX (NET DIVIDENDS) October 31, 2004-October 31, 2014 [CHART] Tax-Managed DFA International MSCI World ex USA Value Portfolio Index (net dividends) ----------------------------- --------------------- 10/31/04 10,000 10,000 11/30/04 10,741 10,665 12/31/04 11,297 11,116 1/31/05 11,233 10,897 2/28/05 11,686 11,382 3/31/05 11,400 11,123 4/30/05 11,059 10,840 5/31/05 11,075 10,859 6/30/05 11,261 11,037 7/31/05 11,751 11,393 8/31/05 12,169 11,708 9/30/05 12,543 12,242 10/31/05 12,325 11,847 11/30/05 12,527 12,160 12/31/05 13,167 12,724 1/31/06 14,074 13,529 2/28/06 14,215 13,483 3/31/06 14,759 13,911 4/30/06 15,517 14,576 5/31/06 14,882 14,022 6/30/06 14,757 14,004 7/31/06 14,992 14,136 8/31/06 15,487 14,537 9/30/06 15,667 14,526 10/31/06 16,362 15,100 11/30/06 16,913 15,549 12/31/06 17,564 15,995 1/31/07 17,902 16,093 2/28/07 17,875 16,222 3/31/07 18,472 16,637 4/30/07 19,379 17,394 5/31/07 20,028 17,781 6/30/07 19,868 17,798 7/31/07 19,335 17,552 8/31/07 19,109 17,298 9/30/07 20,129 18,281 10/31/07 21,108 19,076 11/30/07 19,875 18,330 12/31/07 19,460 17,985 1/31/08 17,837 16,364 2/29/08 17,578 16,660 3/31/08 17,829 16,422 4/30/08 18,607 17,335 5/31/08 18,617 17,598 6/30/08 16,812 16,230 7/31/08 16,374 15,652 8/31/08 15,680 15,047 9/30/08 13,994 12,874 10/31/08 10,816 10,196 11/30/08 10,108 9,643 12/31/08 10,823 10,152 1/31/09 9,379 9,204 2/28/09 8,195 8,273 3/31/09 9,011 8,818 4/30/09 10,635 9,955 5/31/09 12,216 11,214 6/30/09 12,052 11,098 7/31/09 13,457 12,140 8/31/09 14,186 12,722 9/30/09 14,878 13,247 10/31/09 14,305 13,034 11/30/09 14,730 13,356 12/31/09 14,913 13,569 1/31/10 14,029 12,933 2/28/10 14,071 12,920 3/31/10 15,135 13,752 4/30/10 14,879 13,547 5/31/10 13,140 12,052 6/30/10 12,917 11,878 7/31/10 14,455 12,976 8/31/10 13,762 12,588 9/30/10 15,231 13,795 10/31/10 15,785 14,287 11/30/10 15,035 13,682 12/31/10 16,435 14,783 1/31/11 17,134 15,102 2/28/11 17,702 15,662 3/31/11 17,233 15,348 4/30/11 18,131 16,184 5/31/11 17,441 15,704 6/30/11 17,153 15,480 7/31/11 16,608 15,225 8/31/11 14,849 13,938 9/30/11 13,241 12,538 10/31/11 14,551 13,758 11/30/11 14,092 13,122 12/31/11 13,689 12,979 1/31/12 14,604 13,679 2/29/12 15,407 14,431 3/31/12 15,276 14,325 4/30/12 14,710 14,081 5/31/12 12,875 12,476 6/30/12 13,791 13,294 7/31/12 13,721 13,459 8/31/12 14,286 13,843 9/30/12 14,781 14,263 10/31/12 14,955 14,363 11/30/12 15,175 14,665 12/31/12 15,926 15,109 1/31/13 16,708 15,852 2/28/13 16,183 15,694 3/31/13 16,210 15,818 4/30/13 16,993 16,539 5/31/13 16,759 16,168 6/30/13 16,160 15,563 7/31/13 17,239 16,391 8/31/13 17,121 16,180 9/30/13 18,431 17,323 10/31/13 19,051 17,904 11/30/13 19,123 18,014 12/31/13 19,533 18,285 1/31/14 18,815 17,547 2/28/14 19,868 18,505 3/31/14 19,733 18,422 4/30/14 20,025 18,712 5/31/14 20,244 19,002 6/30/14 20,495 19,272 7/31/14 20,026 18,928 Past performance is not predictive of 8/31/14 20,013 18,943 future performance. 9/30/14 19,115 18,165 The returns shown do not reflect the 10/31/14 18,806 17,877 deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. --------------------------------------------------------- MSCI data copyright MSCI 2014, all -1.29% 5.62% 6.52% rights reserved. -------------------------------------------------------------------------------- 4 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- T.A. WORLD EX U.S. CORE EQUITY PORTFOLIO VS. MSCI ALL COUNTRY WORLD EX USA INDEX (NET DIVIDENDS) March 6, 2008-October 31, 2014 [CHART] T.A World ex U.S. Core MSCI ALL Country World ex Equity Portfolio USA Index (net dividends) --------------------------- ------------------------- 3/06/08 10,000 10,000 3/31/08 10,160 9,940 4/30/08 10,630 10,541 5/31/08 10,750 10,708 6/30/08 9,681 9,828 7/31/08 9,357 9,474 8/31/08 8,942 9,031 9/30/08 7,757 7,674 10/31/08 5,929 5,985 11/30/08 5,584 5,638 12/31/08 6,015 5,960 1/31/09 5,382 5,433 2/28/09 4,841 4,926 3/31/09 5,344 5,321 4/30/09 6,193 6,046 5/31/09 7,186 6,865 6/30/09 7,119 6,789 7/31/09 7,884 7,453 8/31/09 8,205 7,729 9/30/09 8,681 8,126 10/31/09 8,442 8,025 11/30/09 8,743 8,255 12/31/09 8,924 8,430 1/31/10 8,486 8,018 2/28/10 8,528 8,018 3/31/10 9,183 8,563 4/30/10 9,152 8,488 5/31/10 8,129 7,595 6/30/10 8,051 7,497 7/31/10 8,874 8,174 8/31/10 8,579 7,950 9/30/10 9,531 8,741 10/31/10 9,859 9,038 11/30/10 9,488 8,689 12/31/10 10,314 9,370 1/31/11 10,431 9,462 2/28/11 10,644 9,711 3/31/11 10,649 9,689 4/30/11 11,182 10,162 5/31/11 10,851 9,869 6/30/11 10,663 9,726 7/31/11 10,490 9,593 8/31/11 9,530 8,771 9/30/11 8,278 7,795 10/31/11 9,115 8,617 11/30/11 8,799 8,177 12/31/11 8,560 8,086 1/31/12 9,294 8,634 2/29/12 9,809 9,119 3/31/12 9,721 8,994 4/30/12 9,502 8,852 5/31/12 8,405 7,847 6/30/12 8,878 8,309 7/31/12 8,867 8,427 8/31/12 9,123 8,603 9/30/12 9,494 8,925 10/31/12 9,561 8,959 11/30/12 9,729 9,130 12/31/12 10,221 9,446 1/31/13 10,581 9,830 2/28/13 10,480 9,726 3/31/13 10,548 9,746 4/30/13 10,886 10,104 5/31/13 10,638 9,870 6/30/13 10,191 9,442 7/31/13 10,704 9,856 8/31/13 10,556 9,720 9/30/13 11,347 10,395 10/31/13 11,749 10,777 11/30/13 11,760 10,795 12/31/13 11,919 10,890 1/31/14 11,433 10,396 2/28/14 12,058 10,918 3/31/14 12,110 10,946 4/30/14 12,238 11,090 5/31/14 12,412 11,306 6/30/14 12,634 11,496 7/31/14 12,399 11,382 8/31/14 12,517 11,445 Past performance is not predictive of 9/30/14 11,837 10,891 future performance. 10/31/14 11,719 10,783 The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Since would pay on fund distributions or the Total Return Year Years Inception redemption of fund shares. ---------------------------------------------------------- MSCI data copyright MSCI 2014, all -0.25% 6.78% 2.41% rights reserved. -------------------------------------------------------------------------------- 5 DFA INVESTMENT DIMENSIONS GROUP INC. MANAGEMENT'S DISCUSSION AND ANALYSIS (Unaudited) U.S. Equity Market Review 12 Months Ended October 31, 2014 U.S. equities had strong gains during the period. The broad U.S. equity market, as measured by the Russell 3000(R) Index, had positive returns in 9 of the 12 months. As measured by the Russell indices, large cap stocks outperformed small cap stocks. Total Return for 12 Months Ended October 31, 2014 ------------------------------------------------- Russell 3000(R) Index........................ 16.07% Russell Microcap(R) Index (micro cap stocks). 7.34% Russell 2000(R) Index (small cap stocks)..... 8.06% Russell 1000(R) Index (large cap stocks)..... 16.78% Dow Jones U.S. Select REIT Index/SM/......... 20.69% Growth stocks slightly outperformed value stocks as measured by the Russell indices. Total Return for 12 Months Ended October 31, 2014 ------------------------------------------------- Russell 2000(R) Value Index (small cap value stocks)... 7.89% Russell 2000(R) Growth Index (small cap growth stocks). 8.26% Russell 1000(R) Value Index (large cap value stocks)... 16.46% Russell 1000(R) Growth Index (large cap growth stocks). 17.11% ---------- Source: Russell data copyright (C) Russell Investment Group 1995-2014, 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 period 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 invests in a broadly diversified group 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 tax management strategies employed by the Master Fund are designed to maximize the after-tax value of a shareholder's investment. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2014, the Master Fund held approximately 1,150 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, 2014, total returns were 14.98% for the Portfolio and 15.76% for the Russell 3000(R) Value Index. As a result of the Master Fund's diversified investment approach, performance was 6 determined principally by broad trends in the U.S. equity market rather than the behavior of a limited number of stocks. Lower book to market stocks outperformed higher book to market stocks within the index. The Tax-Managed U.S. Marketwide Value Portfolio had less weight than the index in lower book to market stocks, which detracted from relative performance. The Master Fund excludes real estate investment trusts (REITs) and highly regulated utilities from eligibility while the Index holds stocks in these sectors. REITs and utilities generally outperformed other sectors during the period, which detracted from the Portfolio's relative performance. 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 tax management strategies employed by the Portfolio are designed to maximize the after-tax value of a shareholder's investment. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2014, the Portfolio held approximately 2,470 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2014, total returns were 15.89% for the Portfolio and 16.07% for the Russell 3000(R) Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad 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") detracted from the Portfolio's relative performance as REITs outperformed during the period. Tax-Managed U.S. Targeted Value Portfolio The Tax-Managed U.S. Targeted Value Portfolio invests in a broadly diversified group of U.S. small- and mid-capitalization value stocks. Value is measured primarily by book-to-market ratio. The tax management strategies employed by the Portfolio are designed to maximize the after-tax value of a shareholder's investment. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2014, 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, 2014, total returns were 11.10% for the Portfolio and 7.89% for the Russell 2000(R) Value Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad trends in the U.S. equity market, rather than the behavior of a limited number of stocks. Mid-cap value stocks significantly outperformed small cap value stocks during the period. The portfolio had a greater weight than the Index in mid-cap value stocks and less weight in small cap value stocks, and these differences were the primary driver of the Portfolio's relative outperformance. Tax-Managed U.S. Small Cap Portfolio The Tax-Managed U.S. Small Cap Portfolio invests in U.S. small company stocks. The tax management strategies employed by the Portfolio are designed to maximize the after-tax value of a shareholder's investment. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2014, the Portfolio held approximately 1,860 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, 2014, total returns were 8.58% for the Portfolio and 8.06% for the Russell 2000(R) Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio excluded certain stocks with low profitability that were held by the Index. These stocks generally underperformed during the period and the exclusion detracted from the Portfolio's relative performance. T.A. U.S. Core Equity 2 Portfolio The T.A. U.S. Core Equity 2 Portfolio invests in a broadly diversified group of U.S. equity securities, with increased exposure to smaller company stocks and value stocks relative to the market while considering federal tax implications of investment decisions. Value is measured primarily by book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2014, the Portfolio held approximately 2,680 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. 7 For the 12 months ended October 31, 2014, total returns were 13.88% for the Portfolio and 16.07% for the Russell 3000(R) Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio had a greater allocation than the Index to small cap stocks and less weight in large cap stocks, which contributed to the Portfolio's relative underperformance as small cap stocks strongly underperformed large cap stocks during the period. The Portfolio's exclusion of REITs also detracted from the Portfolio's relative performance as REITs outperformed most other sectors during the period. International Equity Market Review 12 Months Ended October 31, 2014 Performance of non-U.S. developed markets was generally negative for the period. Only large cap growth stocks had positive returns. As measured by the MSCI world ex USA indices, large cap stocks outperformed small cap stocks, and growth stocks outperformed value stocks. 12 Months Ended October 31, 2014 -------------------------------- Return in U.S. Dollars - ---------------------- MSCI World ex USA Index........... -0.15% MSCI World ex USA Small Cap Index. -2.14% MSCI World ex USA Value Index..... -0.62% MSCI World ex USA Growth Index.... 0.31% During the period, the U.S. dollar (USD) appreciated against developed markets currencies, detracting from USD-denominated returns of non-U.S. securities in developed markets. 12 Months Ended October 31, 2014 -------------------------------- Ten Largest Foreign Developed Markets by Market Cap Local Return Return in U.S. Dollars --------------------------------------------------- ------------ ---------------------- United Kingdom.................... 0.55% 0.12% Japan............................. 13.47% -0.70% Canada............................ 12.71% 4.26% France............................ 1.34% -6.61% Switzerland....................... 9.61% 3.13% Germany........................... 2.52% -5.52% Australia......................... 6.74% -0.92% Spain............................. 10.44% 1.78% Hong Kong......................... 10.24% 10.21% Sweden............................ 13.18% -1.03% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2014, all rights reserved. Emerging markets generally had stronger performance over the period than developed markets with positive returns in each market segment except large cap value. As measured by the MSCI emerging markets indices, small cap stocks outperformed large cap stocks, and growth stocks outperformed value stocks. 12 Months Ended October 31, 2014 -------------------------------- Return in U.S. Dollars - ---------------------- MSCI Emerging Markets Index........... 0.64% MSCI Emerging Markets Small Cap Index. 3.18% MSCI Emerging Markets Value Index..... -0.63% MSCI Emerging Markets Growth Index.... 1.89% 8 During the period, the U.S. dollar (USD) generally appreciated against most emerging markets currencies, particularly those in Eastern Europe, decreasing USD denominated returns in emerging markets. 12 Months Ended October 31, 2014 -------------------------------- Ten Largest Emerging Markets by Market Cap Local Return Return in U.S. Dollar ------------------------------------------ ------------ --------------------- China........................ 6.44% 6.41% Korea........................ -6.24% -6.94% Taiwan....................... 13.99% 10.11% Brazil....................... -0.30% -9.65% South Africa................. 17.13% 6.09% India........................ 29.27% 29.39% Mexico....................... 10.96% 6.98% Russia....................... -4.56% -24.40% Malaysia..................... 3.85% -0.37% Indonesia.................... 17.88% 9.95% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2014, all rights reserved. International Equity Portfolios' Performance Overview Tax-Managed DFA International Value Portfolio The Tax-Managed DFA International Value Portfolio invests in a broadly diversified group of international large company value stocks. Value is measured primarily by book-to-market ratio. The tax managed strategies employed by the Portfolio are designed to maximize the after-tax value of a shareholder's investment. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2014, the Portfolio held approximately 530 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, 2014, total returns were -1.29% for the Portfolio and -0.15% 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 trends in international equity markets rather than the behavior of a limited number of stocks. The Portfolio had significantly greater exposure than the Index to value stocks. Value stocks, particularly those in Canada, generally underperformed the Index, which detracted from the Portfolio's relative performance. T.A. World ex U.S. Core Equity Portfolio The T.A. World ex U.S. Core Equity Portfolio invests in a broadly diversified group of international stocks in developed and emerging markets, with increased exposure to smaller company stocks and those with value characteristics as measured by book-to-market ratio, while considering potential federal tax implications of investment decisions. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2014, 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, 2014, total returns were -0.25% for the Portfolio and 0.06% 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 trends in the international and emerging equity markets rather than by the behavior of a limited number of stocks. The Portfolio invests across all size categories while the Index primarily holds large and mid-cap stocks. Small cap stocks generally underperformed during the period, and the Portfolio's exposure to small cap stocks, particularly in Canada, detracted from the Portfolio's relative performance. The Portfolio's greater exposure than the Index to value stocks (as measured by book-to-market ratio) detracted from the Portfolio's relative performance as value stocks underperformed during the period. 9 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, 2014 EXPENSE TABLES Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- Tax-Managed U.S. Marketwide Value Portfolio** --------------------------------------------- Actual Fund Return............................ $1,000.00 $1,061.50 0.37% $1.92 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 $1,075.40 0.22% $1.15 Hypothetical 5% Annual Return................. $1,000.00 $1,024.10 0.22% $1.12 10 DISCLOSURE OF FUND EXPENSES CONTINUED Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- Tax-Managed U.S. Targeted Value Portfolio ----------------------------------------- Actual Fund Return............................ $1,000.00 $1,034.70 0.43% $2.21 Hypothetical 5% Annual Return................. $1,000.00 $1,023.04 0.43% $2.19 Tax-Managed U.S. Small Cap Portfolio ------------------------------------ Actual Fund Return............................ $1,000.00 $1,037.70 0.52% $2.67 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 $1,056.30 0.24% $1.24 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 $ 939.10 0.53% $2.59 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 $ 957.70 0.45% $2.22 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). 11 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 29, 2014. 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 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....................... 12.9% Consumer Staples............................. 8.8% Energy....................................... 8.9% Financials................................... 14.6% Health Care.................................. 14.2% Industrials.................................. 11.7% Information Technology....................... 19.6% Materials.................................... 3.8% Other........................................ -- Real Estate Investment Trusts................ -- Telecommunication Services................... 2.2% Utilities.................................... 3.3% ----- 100.0% Tax-Managed U.S. Targeted Value Portfolio Consumer Discretionary....................... 15.8% Consumer Staples............................. 3.3% Energy....................................... 8.3% Financials................................... 25.9% Health Care.................................. 6.3% Industrials.................................. 17.0% Information Technology....................... 13.6% Materials.................................... 8.4% Other........................................ -- Real Estate Investment Trusts................ -- Telecommunication Services................... 0.9% Utilities.................................... 0.5% ----- 100.0% Tax-Managed U.S. Small Cap Portfolio Consumer Discretionary....................... 16.2% Consumer Staples............................. 4.3% Energy....................................... 4.8% Financials................................... 19.8% Health Care.................................. 9.5% Industrials.................................. 18.2% Information Technology....................... 17.5% Materials.................................... 5.6% Other........................................ -- Real Estate Investment Trusts................ -- Telecommunication Services................... 0.9% Utilities.................................... 3.2% ----- 100.0% 12 DISCLOSURE OF PORTFOLIO HOLDINGS CONTINUED T.A. U.S. Core Equity 2 Portfolio Consumer Discretionary....................... 14.6% Consumer Staples............................. 6.0% Energy....................................... 10.7% Financials................................... 17.7% Health Care.................................. 10.9% Industrials.................................. 14.5% Information Technology....................... 15.8% Materials.................................... 5.2% Other........................................ -- Real Estate Investment Trusts................ -- Telecommunication Services................... 2.7% Utilities.................................... 1.9% ----- 100.0% Tax-Managed DFA International Value Portfolio Consumer Discretionary....................... 10.5% Consumer Staples............................. 4.2% Energy....................................... 12.9% Financials................................... 35.8% Health Care.................................. 4.1% Industrials.................................. 9.6% Information Technology....................... 3.2% Materials.................................... 11.2% Other........................................ -- Telecommunication Services................... 5.0% Utilities.................................... 3.5% ----- 100.0% T.A. World ex U.S. Core Equity Portfolio Consumer Discretionary....................... 13.9% Consumer Staples............................. 7.6% Energy....................................... 8.2% Financials................................... 22.7% Health Care.................................. 5.6% Industrials.................................. 15.7% Information Technology....................... 8.1% Materials.................................... 11.1% Other........................................ -- Real Estate Investment Trusts................ -- Telecommunication Services................... 3.7% Utilities.................................... 3.4% ----- 100.0% 13 TAX-MANAGED U.S. MARKETWIDE VALUE PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Value+ -------------- AFFILIATED INVESTMENT COMPANY -- (100.0%) Investment in The Tax-Managed U.S. Marketwide Value Series of The DFA Investment Trust Company............................ $3,663,379,468 -------------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANY (Cost $1,984,418,632).................................... $3,663,379,468 ============== Summary of the Portfolio's Master Fund's investments as of October 31, 2014, based on their valuation inputs, is located within this report (See Security Valuation Note). See accompanying Notes to Financial Statements. 14 TAX-MANAGED U.S. EQUITY PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (91.8%) Consumer Discretionary -- (11.8%) * Amazon.com, Inc................... 39,712 $ 12,130,428 0.5% Comcast Corp. Class A............. 227,903 12,614,431 0.6% Home Depot, Inc. (The)............ 148,640 14,495,373 0.6% McDonald's Corp................... 107,641 10,089,191 0.4% Walt Disney Co. (The)............. 183,316 16,751,416 0.7% Other Securities.................. 230,028,259 10.0% ------------ ----- Total Consumer Discretionary.......... 296,109,098 12.8% ------------ ----- Consumer Staples -- (8.1%) Altria Group, Inc................. 214,752 10,381,112 0.5% Coca-Cola Co. (The)............... 435,710 18,247,535 0.8% CVS Health Corp................... 132,004 11,327,263 0.5% PepsiCo, Inc...................... 166,178 15,981,338 0.7% Philip Morris International, Inc.. 172,168 15,324,674 0.7% Procter & Gamble Co. (The)........ 296,869 25,907,758 1.1% Wal-Mart Stores, Inc.............. 175,993 13,422,986 0.6% Other Securities.................. 92,423,832 3.9% ------------ ----- Total Consumer Staples................ 203,016,498 8.8% ------------ ----- Energy -- (8.1%) Chevron Corp...................... 209,586 25,139,841 1.1% ConocoPhillips.................... 132,812 9,582,386 0.4% Exxon Mobil Corp.................. 470,724 45,523,718 2.0% Schlumberger, Ltd................. 143,494 14,157,118 0.6% Other Securities.................. 110,252,507 4.8% ------------ ----- Total Energy.......................... 204,655,570 8.9% ------------ ----- Financials -- (13.4%) American Express Co............... 103,359 9,297,142 0.4% Bank of America Corp.............. 1,160,707 19,917,732 0.9% * Berkshire Hathaway, Inc. Class B.. 201,569 28,251,911 1.2% Citigroup, Inc.................... 334,942 17,929,445 0.8% JPMorgan Chase & Co............... 417,021 25,221,430 1.1% Wells Fargo & Co.................. 550,965 29,250,732 1.3% Other Securities.................. 205,589,563 8.8% ------------ ----- Total Financials...................... 335,457,955 14.5% ------------ ----- Health Care -- (13.1%) AbbVie, Inc....................... 172,168 10,925,781 0.5% Amgen, Inc........................ 82,518 13,382,769 0.6% Bristol-Myers Squibb Co........... 181,943 10,587,263 0.5% * Celgene Corp...................... 87,214 9,339,747 0.4% * Gilead Sciences, Inc.............. 166,797 18,681,264 0.8% Johnson & Johnson................. 312,626 33,694,830 1.5% Merck & Co., Inc.................. 322,370 18,678,118 0.8% Pfizer, Inc....................... 696,727 20,866,974 0.9% UnitedHealth Group, Inc........... 108,703 10,327,872 0.5% Other Securities.................. 181,659,814 7.7% ------------ ----- Total Health Care..................... 328,144,432 14.2% ------------ ----- Industrials -- (10.7%) 3M Co............................. 67,855 10,434,063 0.5% Boeing Co. (The).................. 75,085 9,378,867 0.4% 15 TAX-MANAGED U.S. EQUITY PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Industrials -- (Continued) General Electric Co................................ 1,108,872 $ 28,619,986 1.3% Union Pacific Corp................................. 100,032 11,648,726 0.5% United Technologies Corp........................... 95,229 10,189,503 0.5% Other Securities................................... 198,305,242 8.4% -------------- ------ Total Industrials........................................ 268,576,387 11.6% -------------- ------ Information Technology -- (18.0%) Apple, Inc......................................... 677,523 73,172,484 3.2% Cisco Systems, Inc................................. 568,169 13,903,095 0.6% * Facebook, Inc. Class A............................. 222,482 16,683,925 0.7% * Google, Inc. Class A............................... 30,123 17,105,948 0.8% * Google, Inc. Class C............................... 30,123 16,841,167 0.7% Intel Corp......................................... 549,375 18,684,244 0.8% International Business Machines Corp............... 105,694 17,376,094 0.8% MasterCard, Inc. Class A........................... 108,420 9,080,175 0.4% Microsoft Corp..................................... 867,308 40,720,111 1.8% Oracle Corp........................................ 400,229 15,628,942 0.7% QUALCOMM, Inc...................................... 184,713 14,501,818 0.6% Visa, Inc. Class A................................. 53,984 13,033,357 0.6% Other Securities................................... 185,667,698 7.9% -------------- ------ Total Information Technology............................. 452,399,058 19.6% -------------- ------ Materials -- (3.5%) Other Securities................................... 87,575,466 3.8% -------------- ------ Other -- (0.0%) Other Securities................................... -- 0.0% -------------- ------ Real Estate Investment Trusts -- (0.0%) Other Securities................................... 10,390 0.0% -------------- ------ Telecommunication Services -- (2.1%) AT&T, Inc.......................................... 570,785 19,886,149 0.9% Verizon Communications, Inc........................ 448,711 22,547,728 1.0% Other Securities................................... 9,305,165 0.3% -------------- ------ Total Telecommunication Services......................... 51,739,042 2.2% -------------- ------ Utilities -- (3.0%) Other Securities................................... 75,893,948 3.3% -------------- ------ TOTAL COMMON STOCKS...................................... 2,303,577,844 99.7% -------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 18,621 0.0% -------------- ------ TEMPORARY CASH INVESTMENTS -- (0.4%) State Street Institutional Liquid Reserves, 0.077%. 10,354,688 10,354,688 0.4% -------------- ------ SECURITIES LENDING COLLATERAL -- (7.8%) (S)@ DFA Short Term Investment Fund..................... 17,011,396 196,821,854 8.5% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $1,301,704,150)................................ $2,510,773,007 108.6% ============== ====== 16 TAX-MANAGED U.S. EQUITY PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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........ $ 296,109,098 -- -- $ 296,109,098 Consumer Staples.............. 203,016,498 -- -- 203,016,498 Energy........................ 204,655,570 -- -- 204,655,570 Financials.................... 335,457,307 $ 648 -- 335,457,955 Health Care................... 328,136,294 8,138 -- 328,144,432 Industrials................... 268,576,387 -- -- 268,576,387 Information Technology........ 452,399,058 -- -- 452,399,058 Materials..................... 87,575,466 -- -- 87,575,466 Other......................... -- -- -- -- Real Estate Investment Trusts. 10,390 -- -- 10,390 Telecommunication Services.... 51,739,042 -- -- 51,739,042 Utilities..................... 75,893,948 -- -- 75,893,948 Rights/Warrants................. -- 18,621 -- 18,621 Temporary Cash Investments...... 10,354,688 -- -- 10,354,688 Securities Lending Collateral... -- 196,821,854 -- 196,821,854 -------------- ------------ -- -------------- TOTAL........................... $2,313,923,746 $196,849,261 -- $2,510,773,007 ============== ============ == ============== See accompanying Notes to Financial Statements. 17 TAX-MANAGED U.S. TARGETED VALUE PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (84.3%) Consumer Discretionary -- (13.3%) # Dillard's, Inc. Class A................ 254,247 $ 26,889,163 0.8% Foot Locker, Inc....................... 242,147 13,562,653 0.4% # GameStop Corp. Class A................. 431,501 18,450,983 0.5% Gannett Co., Inc....................... 412,001 12,978,031 0.4% #* Iconix Brand Group, Inc................ 330,870 13,238,109 0.4% Other Securities....................... 475,952,207 13.2% ------------ ----- Total Consumer Discretionary............... 561,071,146 15.7% ------------ ----- Consumer Staples -- (2.8%) #* Hain Celestial Group, Inc. (The)....... 130,526 14,129,439 0.4% Other Securities....................... 101,937,460 2.9% ------------ ----- Total Consumer Staples..................... 116,066,899 3.3% ------------ ----- Energy -- (7.0%) Bristow Group, Inc..................... 174,943 12,928,288 0.4% # Exterran Holdings, Inc................. 320,367 12,600,034 0.4% * Helix Energy Solutions Group, Inc...... 562,740 14,991,394 0.4% Tesoro Corp............................ 419,582 29,962,351 0.8% Western Refining, Inc.................. 378,467 17,254,311 0.5% Other Securities....................... 205,940,601 5.7% ------------ ----- Total Energy............................... 293,676,979 8.2% ------------ ----- Financials -- (21.8%) Allied World Assurance Co. Holdings AG. 466,524 17,727,912 0.5% American Financial Group, Inc.......... 370,385 22,160,135 0.6% Assurant, Inc.......................... 331,133 22,589,893 0.6% Axis Capital Holdings, Ltd............. 302,382 14,556,669 0.4% CNO Financial Group, Inc............... 1,264,042 22,917,081 0.6% * E*TRADE Financial Corp................. 618,552 13,793,710 0.4% Endurance Specialty Holdings, Ltd...... 206,632 11,974,324 0.3% Everest Re Group, Ltd.................. 104,016 17,750,330 0.5% * Genworth Financial, Inc. Class A....... 923,584 12,920,940 0.4% Legg Mason, Inc........................ 349,011 18,148,572 0.5% # NASDAQ OMX Group, Inc. (The)........... 416,712 18,026,961 0.5% PartnerRe, Ltd......................... 163,753 18,944,585 0.5% Protective Life Corp................... 263,755 18,378,448 0.5% Reinsurance Group of America, Inc...... 235,808 19,866,824 0.6% Other Securities....................... 668,927,868 18.8% ------------ ----- Total Financials........................... 918,684,252 25.7% ------------ ----- Health Care -- (5.3%) #* Community Health Systems, Inc.......... 235,709 12,956,924 0.4% * LifePoint Hospitals, Inc............... 217,249 15,207,430 0.4% Omnicare, Inc.......................... 317,727 21,157,441 0.6% Other Securities....................... 175,208,246 4.9% ------------ ----- Total Health Care.......................... 224,530,041 6.3% ------------ ----- Industrials -- (14.3%) AMERCO................................. 88,302 23,940,438 0.7% * Avis Budget Group, Inc................. 549,560 30,637,970 0.9% Curtiss-Wright Corp.................... 193,210 13,372,064 0.4% * Esterline Technologies Corp............ 124,499 14,580,078 0.4% GATX Corp.............................. 210,848 13,367,763 0.4% 18 TAX-MANAGED U.S. TARGETED VALUE PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Industrials -- (Continued) #* JetBlue Airways Corp............................... 1,383,605 $ 15,966,802 0.5% Owens Corning...................................... 367,806 11,791,860 0.3% Ryder System, Inc.................................. 233,530 20,660,399 0.6% # Trinity Industries, Inc............................ 554,828 19,812,908 0.6% Other Securities................................... 437,652,859 12.0% -------------- ------ Total Industrials........................................ 601,783,141 16.8% -------------- ------ Information Technology -- (11.5%) * ARRIS Group, Inc................................... 449,224 13,485,704 0.4% * Arrow Electronics, Inc............................. 351,633 19,993,852 0.6% Avnet, Inc......................................... 313,439 13,556,237 0.4% #* First Solar, Inc................................... 251,802 14,831,138 0.4% * Ingram Micro, Inc. Class A......................... 553,452 14,854,652 0.4% # SYNNEX Corp........................................ 188,595 13,047,002 0.4% * TriQuint Semiconductor, Inc........................ 711,347 15,386,436 0.4% #* Virtusa Corp....................................... 319,624 13,098,192 0.4% Other Securities................................... 365,890,271 10.2% -------------- ------ Total Information Technology............................. 484,143,484 13.6% -------------- ------ Materials -- (7.1%) * Century Aluminum Co................................ 414,244 12,129,064 0.3% MeadWestvaco Corp.................................. 386,074 17,052,889 0.5% Reliance Steel & Aluminum Co....................... 202,824 13,686,563 0.4% Rock-Tenn Co. Class A.............................. 299,934 15,341,624 0.4% Westlake Chemical Corp............................. 191,836 13,534,030 0.4% Other Securities................................... 225,053,507 6.3% -------------- ------ Total Materials.......................................... 296,797,677 8.3% -------------- ------ Other -- (0.0%) Other Securities................................... -- 0.0% -------------- ------ Real Estate Investment Trusts -- (0.0%) Other Securities................................... 94,065 0.0% -------------- ------ Telecommunication Services -- (0.8%) Other Securities................................... 32,961,604 0.9% -------------- ------ Utilities -- (0.4%) Other Securities................................... 18,318,540 0.5% -------------- ------ TOTAL COMMON STOCKS...................................... 3,548,127,828 99.3% -------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 270,568 0.0% -------------- ------ TEMPORARY CASH INVESTMENTS -- (0.6%) State Street Institutional Liquid Reserves, 0.077%. 25,153,854 25,153,854 0.7% -------------- ------ SECURITIES LENDING COLLATERAL -- (15.1%) (S)@ DFA Short Term Investment Fund..................... 55,038,894 636,800,004 17.9% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $2,703,041,710)................................ $4,210,352,254 117.9% ============== ====== 19 TAX-MANAGED U.S. TARGETED VALUE PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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........ $ 561,071,146 -- -- $ 561,071,146 Consumer Staples.............. 116,066,899 -- -- 116,066,899 Energy........................ 293,676,979 -- -- 293,676,979 Financials.................... 918,572,674 $ 111,578 -- 918,684,252 Health Care................... 224,451,559 78,482 -- 224,530,041 Industrials................... 601,781,204 1,937 -- 601,783,141 Information Technology........ 484,143,484 -- -- 484,143,484 Materials..................... 296,797,677 -- -- 296,797,677 Other......................... -- -- -- -- Real Estate Investment Trusts. 94,065 -- -- 94,065 Telecommunication Services.... 32,961,604 -- -- 32,961,604 Utilities..................... 18,318,540 -- -- 18,318,540 Rights/Warrants................. -- 270,568 -- 270,568 Temporary Cash Investments...... 25,153,854 -- -- 25,153,854 Securities Lending Collateral... -- 636,800,004 -- 636,800,004 -------------- ------------ -- -------------- TOTAL........................... $3,573,089,685 $637,262,569 -- $4,210,352,254 ============== ============ == ============== See accompanying Notes to Financial Statements. 20 TAX-MANAGED U.S. SMALL CAP PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (79.6%) Consumer Discretionary -- (12.9%) Big Lots, Inc.................................. 87,036 $ 3,973,193 0.2% #* Iconix Brand Group, Inc........................ 102,033 4,082,340 0.2% Lithia Motors, Inc. Class A.................... 51,735 4,015,671 0.2% #* Office Depot, Inc.............................. 836,472 4,366,384 0.2% Other Securities............................... 317,969,211 15.2% ------------ ----- Total Consumer Discretionary....................... 334,406,799 16.0% ------------ ----- Consumer Staples -- (3.4%) #* Pilgrim's Pride Corp........................... 173,140 4,918,907 0.2% Spectrum Brands Holdings, Inc.................. 41,553 3,764,286 0.2% Other Securities............................... 80,664,620 3.9% ------------ ----- Total Consumer Staples............................. 89,347,813 4.3% ------------ ----- Energy -- (3.8%) # Bristow Group, Inc............................. 53,346 3,942,269 0.2% # Exterran Holdings, Inc......................... 96,024 3,776,624 0.2% Western Refining, Inc.......................... 181,222 8,261,911 0.4% Other Securities............................... 83,702,768 4.0% ------------ ----- Total Energy....................................... 99,683,572 4.8% ------------ ----- Financials -- (15.7%) Cathay General Bancorp......................... 161,692 4,270,286 0.2% CNO Financial Group, Inc....................... 336,171 6,094,780 0.3% # First American Financial Corp.................. 128,060 3,882,779 0.2% Hanover Insurance Group, Inc. (The)............ 60,958 4,080,529 0.2% # Investors Bancorp, Inc......................... 415,530 4,466,947 0.2% PacWest Bancorp................................ 131,887 5,626,299 0.3% Primerica, Inc................................. 80,041 4,094,097 0.2% # Radian Group, Inc.............................. 324,032 5,459,939 0.3% StanCorp Financial Group, Inc.................. 59,107 4,111,483 0.2% TCF Financial Corp............................. 255,885 3,953,423 0.2% Webster Financial Corp......................... 144,207 4,519,447 0.2% * Western Alliance Bancorp....................... 158,880 4,229,386 0.2% Other Securities............................... 354,638,956 16.9% ------------ ----- Total Financials................................... 409,428,351 19.6% ------------ ----- Health Care -- (7.6%) * Charles River Laboratories International, Inc.. 70,800 4,471,728 0.2% * Health Net, Inc................................ 96,107 4,566,044 0.2% #* Lannett Co., Inc............................... 69,926 3,966,203 0.2% #* PAREXEL International Corp..................... 71,310 3,872,846 0.2% #* Prestige Brands Holdings, Inc.................. 110,081 3,899,069 0.2% STERIS Corp.................................... 61,168 3,780,182 0.2% * VCA, Inc....................................... 94,753 4,317,894 0.2% Other Securities............................... 168,441,466 8.0% ------------ ----- Total Health Care.................................. 197,315,432 9.4% ------------ ----- Industrials -- (14.5%) Alaska Air Group, Inc.......................... 71,514 3,806,690 0.2% AMERCO......................................... 25,259 6,848,220 0.3% * Avis Budget Group, Inc......................... 130,275 7,262,831 0.4% Curtiss-Wright Corp............................ 61,113 4,229,631 0.2% # EnerSys........................................ 63,999 4,019,137 0.2% 21 TAX-MANAGED U.S. SMALL CAP PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Industrials -- (Continued) * Esterline Technologies Corp........................ 48,126 $ 5,636,036 0.3% # Greenbrier Cos., Inc. (The)........................ 60,056 3,755,902 0.2% * Middleby Corp. (The)............................... 49,527 4,383,139 0.2% Other Securities................................... 335,783,888 15.9% -------------- ------ Total Industrials........................................ 375,725,474 17.9% -------------- ------ Information Technology -- (14.0%) * ARRIS Group, Inc................................... 170,706 5,124,594 0.2% * International Rectifier Corp....................... 110,063 4,377,206 0.2% # Lexmark International, Inc. Class A................ 90,382 3,900,887 0.2% * Manhattan Associates, Inc.......................... 103,202 4,139,432 0.2% Mentor Graphics Corp............................... 201,941 4,279,130 0.2% Methode Electronics, Inc........................... 97,435 3,836,990 0.2% #* RF Micro Devices, Inc.............................. 337,172 4,386,608 0.2% # SYNNEX Corp........................................ 63,951 4,424,130 0.2% * TriQuint Semiconductor, Inc........................ 253,709 5,487,726 0.3% #* Tyler Technologies, Inc............................ 34,175 3,824,866 0.2% Other Securities................................... 319,406,813 15.2% -------------- ------ Total Information Technology............................. 363,188,382 17.3% -------------- ------ Materials -- (4.4%) * Century Aluminum Co................................ 151,500 4,435,920 0.2% * KapStone Paper and Packaging Corp.................. 152,404 4,687,947 0.2% PolyOne Corp....................................... 131,230 4,856,822 0.2% Other Securities................................... 101,509,112 4.9% -------------- ------ Total Materials.......................................... 115,489,801 5.5% -------------- ------ Other -- (0.0%) Other Securities................................... -- 0.0% -------------- ------ Real Estate Investment Trusts -- (0.0%) Other Securities................................... 237,128 0.0% -------------- ------ Telecommunication Services -- (0.7%) Other Securities................................... 17,968,748 0.9% -------------- ------ Utilities -- (2.6%) IDACORP, Inc....................................... 64,563 4,082,318 0.2% Other Securities................................... 62,324,813 3.0% -------------- ------ Total Utilities.......................................... 66,407,131 3.2% -------------- ------ TOTAL COMMON STOCKS...................................... 2,069,198,631 98.9% -------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 5,669 0.0% -------------- ------ TEMPORARY CASH INVESTMENTS -- (1.0%) State Street Institutional Liquid Reserves, 0.077%. 26,654,455 26,654,455 1.3% -------------- ------ SECURITIES LENDING COLLATERAL -- (19.4%) (S)@ DFA Short Term Investment Fund..................... 43,500,592 503,301,846 24.0% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $1,648,995,120)................................ $2,599,160,601 124.2% ============== ====== 22 TAX-MANAGED U.S. SMALL CAP PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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........ $ 334,406,799 -- -- $ 334,406,799 Consumer Staples.............. 89,347,813 -- -- 89,347,813 Energy........................ 99,683,572 -- -- 99,683,572 Financials.................... 409,391,357 $ 36,994 -- 409,428,351 Health Care................... 197,228,586 86,846 -- 197,315,432 Industrials................... 375,725,236 238 -- 375,725,474 Information Technology........ 363,188,382 -- -- 363,188,382 Materials..................... 115,489,801 -- -- 115,489,801 Other......................... -- -- -- -- Real Estate Investment Trusts. 237,128 -- -- 237,128 Telecommunication Services.... 17,968,748 -- -- 17,968,748 Utilities..................... 66,407,131 -- -- 66,407,131 Rights/Warrants................. -- 5,669 -- 5,669 Temporary Cash Investments...... 26,654,455 -- -- 26,654,455 Securities Lending Collateral... -- 503,301,846 -- 503,301,846 -------------- ------------ -- -------------- TOTAL........................... $2,095,729,008 $503,431,593 -- $2,599,160,601 ============== ============ == ============== See accompanying Notes to Financial Statements. 23 T.A. U.S. CORE EQUITY 2 PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (89.6%) Consumer Discretionary -- (13.1%) Comcast Corp. Class A.............. 590,048 $ 32,659,157 0.7% Ford Motor Co...................... 991,239 13,966,558 0.3% Lowe's Cos., Inc................... 218,761 12,513,129 0.3% Time Warner Cable, Inc............. 88,298 12,998,349 0.3% Time Warner, Inc................... 218,287 17,347,268 0.4% Walt Disney Co. (The).............. 365,590 33,407,614 0.7% Other Securities................... 615,333,399 11.9% ------------ ----- Total Consumer Discretionary........... 738,225,474 14.6% ------------ ----- Consumer Staples -- (5.4%) Coca-Cola Co. (The)................ 322,507 13,506,593 0.3% CVS Health Corp.................... 278,252 23,876,804 0.5% PepsiCo, Inc....................... 148,327 14,264,608 0.3% Procter & Gamble Co. (The)......... 274,994 23,998,726 0.5% Wal-Mart Stores, Inc............... 278,096 21,210,382 0.4% Other Securities................... 206,273,038 4.0% ------------ ----- Total Consumer Staples................. 303,130,151 6.0% ------------ ----- Energy -- (9.6%) Anadarko Petroleum Corp............ 156,692 14,381,192 0.3% Chevron Corp....................... 423,827 50,838,049 1.0% ConocoPhillips..................... 334,394 24,126,527 0.5% EOG Resources, Inc................. 200,013 19,011,236 0.4% Exxon Mobil Corp................... 1,180,695 114,185,013 2.3% Occidental Petroleum Corp.......... 233,538 20,768,534 0.4% Schlumberger, Ltd.................. 159,494 15,735,678 0.3% Other Securities................... 281,533,550 5.5% ------------ ----- Total Energy........................... 540,579,779 10.7% ------------ ----- Financials -- (15.9%) American International Group, Inc.. 306,497 16,419,044 0.3% Bank of America Corp............... 1,929,912 33,117,290 0.7% * Berkshire Hathaway, Inc. Class B... 115,079 16,129,473 0.3% Citigroup, Inc..................... 672,133 35,979,279 0.7% Goldman Sachs Group, Inc. (The).... 78,303 14,876,787 0.3% JPMorgan Chase & Co................ 899,243 54,386,217 1.1% Travelers Cos., Inc. (The)......... 112,519 11,341,915 0.2% U.S. Bancorp....................... 381,670 16,259,142 0.3% Wells Fargo & Co................... 1,199,886 63,701,948 1.3% Other Securities................... 632,014,031 12.5% ------------ ----- Total Financials....................... 894,225,126 17.7% ------------ ----- Health Care -- (9.7%) Amgen, Inc......................... 85,813 13,917,152 0.3% * Express Scripts Holding Co......... 163,258 12,541,480 0.3% * Gilead Sciences, Inc............... 109,368 12,249,216 0.3% Johnson & Johnson.................. 332,083 35,791,906 0.7% Merck & Co., Inc................... 572,640 33,178,762 0.7% Pfizer, Inc........................ 1,225,094 36,691,565 0.7% UnitedHealth Group, Inc............ 220,408 20,940,964 0.4% Other Securities................... 383,544,455 7.4% ------------ ----- Total Health Care...................... 548,855,500 10.8% ------------ ----- 24 T.A. U.S. CORE EQUITY 2 PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Industrials -- (13.0%) FedEx Corp......................................... 75,208 $ 12,589,819 0.3% General Electric Co................................ 2,045,306 52,789,348 1.1% Union Pacific Corp................................. 219,888 25,605,958 0.5% Other Securities................................... 639,395,476 12.5% -------------- ------ Total Industrials........................................ 730,380,601 14.4% -------------- ------ Information Technology -- (14.1%) Apple, Inc......................................... 845,964 91,364,112 1.8% Cisco Systems, Inc................................. 1,023,846 25,053,512 0.5% Hewlett-Packard Co................................. 633,851 22,742,574 0.5% Intel Corp......................................... 1,402,548 47,700,657 1.0% International Business Machines Corp............... 72,831 11,973,416 0.3% * Micron Technology, Inc............................. 431,051 14,263,478 0.3% Microsoft Corp..................................... 675,654 31,721,955 0.6% Oracle Corp........................................ 401,851 15,692,282 0.3% QUALCOMM, Inc...................................... 145,409 11,416,061 0.2% Visa, Inc. Class A................................. 71,331 17,221,443 0.4% Other Securities................................... 506,714,815 9.8% -------------- ------ Total Information Technology............................. 795,864,305 15.7% -------------- ------ Materials -- (4.6%) Dow Chemical Co. (The)............................. 287,493 14,202,154 0.3% Other Securities................................... 247,951,988 4.9% -------------- ------ Total Materials.......................................... 262,154,142 5.2% -------------- ------ Other -- (0.0%) Other Securities................................... -- 0.0% -------------- ------ Real Estate Investment Trusts -- (0.0%) Other Securities................................... 241,569 0.0% -------------- ------ Telecommunication Services -- (2.5%) AT&T, Inc.......................................... 1,975,593 68,829,660 1.4% Verizon Communications, Inc........................ 740,077 37,188,869 0.8% Other Securities................................... 33,328,805 0.6% -------------- ------ Total Telecommunication Services......................... 139,347,334 2.8% -------------- ------ Utilities -- (1.7%) Other Securities................................... 94,162,676 1.9% -------------- ------ TOTAL COMMON STOCKS...................................... 5,047,166,657 99.8% -------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 110,929 0.0% -------------- ------ TEMPORARY CASH INVESTMENTS -- (0.1%) State Street Institutional Liquid Reserves, 0.077%. 6,534,172 6,534,172 0.1% -------------- ------ SECURITIES LENDING COLLATERAL -- (10.3%) (S)@ DFA Short Term Investment Fund..................... 50,125,050 579,946,827 11.5% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $3,585,029,602)................................... $5,633,758,585 111.4% ============== ====== 25 T.A. U.S. CORE EQUITY 2 PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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........ $ 738,225,474 -- -- $ 738,225,474 Consumer Staples.............. 303,130,151 -- -- 303,130,151 Energy........................ 540,579,779 -- -- 540,579,779 Financials.................... 894,220,473 $ 4,653 -- 894,225,126 Health Care................... 548,799,186 56,314 -- 548,855,500 Industrials................... 730,380,375 226 -- 730,380,601 Information Technology........ 795,864,305 -- -- 795,864,305 Materials..................... 262,154,142 -- -- 262,154,142 Other......................... -- -- -- -- Real Estate Investment Trusts. 241,569 -- -- 241,569 Telecommunication Services.... 139,347,334 -- -- 139,347,334 Utilities..................... 94,162,676 -- -- 94,162,676 Rights/Warrants................. -- 110,929 -- 110,929 Temporary Cash Investments...... 6,534,172 -- -- 6,534,172 Securities Lending Collateral... -- 579,946,827 -- 579,946,827 -------------- ------------ -- -------------- TOTAL........................... $5,053,639,636 $580,118,949 -- $5,633,758,585 ============== ============ == ============== See accompanying Notes to Financial Statements. 26 TAX-MANAGED DFA INTERNATIONAL VALUE PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (99.5%) AUSTRALIA -- (6.3%) Macquarie Group, Ltd.......................... 362,135 $ 19,571,223 0.7% Santos, Ltd................................... 1,402,673 16,073,580 0.5% Wesfarmers, Ltd............................... 786,520 30,609,540 1.0% Other Securities.............................. 121,193,446 4.1% ------------ ---- TOTAL AUSTRALIA................................... 187,447,789 6.3% ------------ ---- AUSTRIA -- (0.2%) Other Securities.............................. 4,577,836 0.2% ------------ ---- BELGIUM -- (1.5%) Other Securities.............................. 45,389,954 1.5% ------------ ---- CANADA -- (8.3%) Manulife Financial Corp....................... 1,149,080 21,808,102 0.7% Suncor Energy, Inc............................ 1,078,999 38,313,775 1.3% Other Securities.............................. 185,036,411 6.2% ------------ ---- TOTAL CANADA...................................... 245,158,288 8.2% ------------ ---- CHINA -- (0.0%) Other Securities.............................. 10,188 0.0% ------------ ---- DENMARK -- (1.4%) Other Securities.............................. 40,342,565 1.4% ------------ ---- FINLAND -- (0.9%) Other Securities.............................. 25,249,042 0.9% ------------ ---- FRANCE -- (8.8%) AXA SA........................................ 987,329 22,805,842 0.8% BNP Paribas SA................................ 534,480 33,587,822 1.1% Cie de St-Gobain.............................. 365,627 15,716,421 0.5% GDF Suez...................................... 1,112,207 27,004,297 0.9% Orange SA..................................... 1,431,646 22,792,336 0.8% Renault SA.................................... 255,508 19,006,284 0.6% Societe Generale SA........................... 437,609 21,088,828 0.7% Vivendi SA.................................... 1,017,849 24,865,321 0.8% Other Securities.............................. 75,933,730 2.6% ------------ ---- TOTAL FRANCE...................................... 262,800,881 8.8% ------------ ---- GERMANY -- (7.3%) Allianz SE.................................... 180,892 28,765,830 1.0% Bayerische Motoren Werke AG................... 238,670 25,594,423 0.9% Daimler AG.................................... 735,745 57,365,284 1.9% Muenchener Rueckversicherungs-Gesellschaft AG. 112,068 22,064,821 0.8% Other Securities.............................. 84,040,688 2.7% ------------ ---- TOTAL GERMANY..................................... 217,831,046 7.3% ------------ ---- HONG KONG -- (3.0%) Hutchison Whampoa, Ltd........................ 1,722,000 21,880,345 0.7% Other Securities.............................. 67,147,089 2.3% ------------ ---- TOTAL HONG KONG................................... 89,027,434 3.0% ------------ ---- 27 TAX-MANAGED DFA INTERNATIONAL VALUE PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- IRELAND -- (0.1%) Other Securities........................ $ 3,744,029 0.1% ------------ ----- ISRAEL -- (0.4%) Other Securities........................ 11,389,617 0.4% ------------ ----- ITALY -- (1.7%) UniCredit SpA........................... 2,217,358 16,059,706 0.5% Other Securities........................ 35,237,805 1.2% ------------ ----- TOTAL ITALY................................. 51,297,511 1.7% ------------ ----- JAPAN -- (22.4%) Honda Motor Co., Ltd.................... 587,400 18,778,726 0.6% Mitsubishi Corp......................... 810,300 15,888,646 0.5% Mitsubishi UFJ Financial Group, Inc..... 7,211,034 42,034,655 1.4% Mizuho Financial Group, Inc............. 16,423,800 29,929,347 1.0% Nippon Steel & Sumitomo Metal Corp...... 6,147,000 16,220,973 0.6% Nissan Motor Co., Ltd................... 1,881,900 17,166,125 0.6% NTT DOCOMO, Inc......................... 1,212,400 20,448,196 0.7% Sumitomo Mitsui Financial Group, Inc.... 901,727 36,775,046 1.2% Other Securities........................ 469,167,987 15.8% ------------ ----- TOTAL JAPAN................................. 666,409,701 22.4% ------------ ----- NETHERLANDS -- (3.1%) ArcelorMittal........................... 1,173,996 15,421,815 0.5% * ING Groep NV............................ 1,669,297 23,904,937 0.8% Other Securities........................ 52,403,011 1.8% ------------ ----- TOTAL NETHERLANDS........................... 91,729,763 3.1% ------------ ----- NEW ZEALAND -- (0.1%) Other Securities........................ 2,524,023 0.1% ------------ ----- NORWAY -- (0.8%) Other Securities........................ 23,635,292 0.8% ------------ ----- PORTUGAL -- (0.0%) Other Securities........................ 1,147,881 0.0% ------------ ----- SINGAPORE -- (1.2%) Other Securities........................ 34,883,879 1.2% ------------ ----- SPAIN -- (2.4%) Iberdrola SA............................ 3,507,164 24,826,918 0.8% Other Securities........................ 47,596,283 1.6% ------------ ----- TOTAL SPAIN................................. 72,423,201 2.4% ------------ ----- SWEDEN -- (3.2%) Nordea Bank AB.......................... 1,822,627 23,442,178 0.8% Telefonaktiebolaget LM Ericsson Class B. 1,816,273 21,461,801 0.7% Other Securities........................ 50,460,345 1.7% ------------ ----- TOTAL SWEDEN................................ 95,364,324 3.2% ------------ ----- SWITZERLAND -- (10.4%) ABB, Ltd................................ 727,335 15,956,762 0.5% Credit Suisse Group AG.................. 734,673 19,574,478 0.7% Holcim, Ltd............................. 241,079 17,110,467 0.6% 28 TAX-MANAGED DFA INTERNATIONAL VALUE PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- SWITZERLAND -- (Continued) Novartis AG............................. 811,428 $ 75,302,834 2.5% Novartis AG ADR......................... 189,650 17,578,658 0.6% Swiss Re AG............................. 505,064 40,839,887 1.4% UBS AG.................................. 1,447,678 25,172,419 0.8% Zurich Insurance Group AG............... 108,603 32,866,358 1.1% Other Securities........................ 63,626,811 2.2% -------------- ----- TOTAL SWITZERLAND............................. 308,028,674 10.4% -------------- ----- UNITED KINGDOM -- (16.0%) Anglo American P.L.C.................... 988,425 20,869,160 0.7% Barclays P.L.C.......................... 4,242,534 16,316,440 0.6% Barclays P.L.C. Sponsored ADR........... 1,082,649 16,672,794 0.6% BP P.L.C. Sponsored ADR................. 2,472,795 107,467,670 3.6% HSBC Holdings P.L.C. Sponsored ADR...... 800,394 40,836,102 1.4% * Lloyds Banking Group P.L.C.............. 20,203,383 24,948,932 0.8% Royal Dutch Shell P.L.C. ADR(780259107). 943,951 70,484,821 2.4% Royal Dutch Shell P.L.C. ADR(780259206). 417,249 29,954,306 1.0% Vodafone Group P.L.C.................... 9,498,849 31,587,986 1.1% Vodafone Group P.L.C. Sponsored ADR..... 465,674 15,469,678 0.5% Other Securities........................ 99,821,015 3.2% -------------- ----- TOTAL UNITED KINGDOM.......................... 474,428,904 15.9% -------------- ----- TOTAL COMMON STOCKS........................... 2,954,841,822 99.3% -------------- ----- PREFERRED STOCKS -- (0.1%) GERMANY -- (0.1%) Other Securities........................ 3,797,856 0.1% -------------- ----- RIGHTS/WARRANTS -- (0.0%) FRANCE -- (0.0%) Other Securities........................ 149,763 0.0% -------------- ----- SPAIN -- (0.0%) Other Securities........................ 205,735 0.0% -------------- ----- TOTAL RIGHTS/WARRANTS......................... 355,498 0.0% -------------- ----- SECURITIES LENDING COLLATERAL -- (0.4%) (S)@ DFA Short Term Investment Fund.......... 1,014,502 11,737,790 0.4% -------------- ----- TOTAL INVESTMENTS -- (100.0%) (Cost $2,747,730,594)..................... $2,970,732,966 99.8% ============== ===== 29 TAX-MANAGED DFA INTERNATIONAL VALUE PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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................... $ 4,071,113 $ 183,376,676 -- $ 187,447,789 Austria..................... -- 4,577,836 -- 4,577,836 Belgium..................... 722,496 44,667,458 -- 45,389,954 Canada...................... 245,158,288 -- -- 245,158,288 China....................... -- 10,188 -- 10,188 Denmark..................... -- 40,342,565 -- 40,342,565 Finland..................... -- 25,249,042 -- 25,249,042 France...................... 9,331,186 253,469,695 -- 262,800,881 Germany..................... 17,237,838 200,593,208 -- 217,831,046 Hong Kong................... -- 89,027,434 -- 89,027,434 Ireland..................... 1,149,717 2,594,312 -- 3,744,029 Israel...................... 1,764,423 9,625,194 -- 11,389,617 Italy....................... 2,173,566 49,123,945 -- 51,297,511 Japan....................... 25,127,798 641,281,903 -- 666,409,701 Netherlands................. 5,646,687 86,083,076 -- 91,729,763 New Zealand................. -- 2,524,023 -- 2,524,023 Norway...................... -- 23,635,292 -- 23,635,292 Portugal.................... -- 1,147,881 -- 1,147,881 Singapore................... -- 34,883,879 -- 34,883,879 Spain....................... 16,856 72,406,345 -- 72,423,201 Sweden...................... 1,602,390 93,761,934 -- 95,364,324 Switzerland................. 23,563,232 284,465,442 -- 308,028,674 United Kingdom.............. 292,980,459 181,448,445 -- 474,428,904 Preferred Stocks Germany..................... -- 3,797,856 -- 3,797,856 Rights/Warrants France...................... -- 149,763 -- 149,763 Spain....................... -- 205,735 -- 205,735 Securities Lending Collateral -- 11,737,790 -- 11,737,790 ------------ -------------- -- -------------- TOTAL......................... $630,546,049 $2,340,186,917 -- $2,970,732,966 ============ ============== == ============== See accompanying Notes to Financial Statements. 30 T.A. WORLD EX U.S. CORE EQUITY PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (97.2%) AUSTRALIA -- (5.2%) AMP, Ltd............................................ 635,522 $ 3,277,401 0.2% Australia & New Zealand Banking Group, Ltd.......... 185,705 5,495,117 0.3% BHP Billiton, Ltd................................... 186,080 5,566,923 0.3% Commonwealth Bank of Australia...................... 56,425 4,012,349 0.2% National Australia Bank, Ltd........................ 168,696 5,218,738 0.3% Westpac Banking Corp................................ 140,736 4,319,787 0.2% Woodside Petroleum, Ltd............................. 118,758 4,218,325 0.2% Other Securities.................................... 72,501,357 3.5% ------------ ---- TOTAL AUSTRALIA......................................... 104,609,997 5.2% ------------ ---- AUSTRIA -- (0.4%) Other Securities.................................... 7,133,866 0.4% ------------ ---- BELGIUM -- (1.0%) Other Securities.................................... 19,732,718 1.0% ------------ ---- BRAZIL -- (1.6%) Other Securities.................................... 31,683,895 1.6% ------------ ---- CANADA -- (7.0%) Magna International, Inc............................ 33,072 3,264,211 0.2% Royal Bank of Canada................................ 55,774 3,959,432 0.2% Suncor Energy, Inc.................................. 108,988 3,870,014 0.2% Toronto-Dominion Bank (The)......................... 104,500 5,143,175 0.3% Other Securities.................................... 125,171,979 6.2% ------------ ---- TOTAL CANADA............................................ 141,408,811 7.1% ------------ ---- CHILE -- (0.3%) Other Securities.................................... 5,675,946 0.3% ------------ ---- CHINA -- (4.7%) China Construction Bank Corp. Class H............... 6,752,200 5,037,809 0.3% China Mobile, Ltd. Sponsored ADR.................... 55,427 3,441,462 0.2% Industrial & Commercial Bank of China, Ltd. Class H. 8,236,460 5,458,020 0.3% Other Securities.................................... 81,066,460 4.0% ------------ ---- TOTAL CHINA............................................. 95,003,751 4.8% ------------ ---- COLOMBIA -- (0.1%) Other Securities.................................... 1,968,719 0.1% ------------ ---- CZECH REPUBLIC -- (0.0%) Other Securities.................................... 813,052 0.0% ------------ ---- DENMARK -- (1.1%) Other Securities.................................... 21,951,049 1.1% ------------ ---- EGYPT -- (0.0%) Other Securities.................................... 99,779 0.0% ------------ ---- FINLAND -- (1.2%) Nokia Oyj........................................... 461,679 3,857,741 0.2% Other Securities.................................... 20,522,772 1.0% ------------ ---- TOTAL FINLAND........................................... 24,380,513 1.2% ------------ ---- 31 T.A. WORLD EX U.S. CORE EQUITY PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- FRANCE -- (5.6%) BNP Paribas SA..................................... 66,145 $ 4,156,688 0.2% GDF Suez........................................... 160,499 3,896,903 0.2% Orange SA.......................................... 252,114 4,013,748 0.2% Sanofi............................................. 41,470 3,762,989 0.2% Total SA........................................... 167,313 9,989,131 0.5% Total SA Sponsored ADR............................. 85,482 5,119,517 0.3% Other Securities................................... 81,930,583 4.1% ------------ ----- TOTAL FRANCE........................................... 112,869,559 5.7% ------------ ----- GERMANY -- (4.9%) Allianz SE......................................... 26,904 4,278,331 0.2% BASF SE............................................ 42,091 3,719,167 0.2% Bayer AG........................................... 22,361 3,198,110 0.2% Bayerische Motoren Werke AG........................ 39,698 4,257,122 0.2% Daimler AG......................................... 86,917 6,776,829 0.4% Deutsche Telekom AG................................ 227,966 3,436,204 0.2% Fresenius SE & Co. KGaA............................ 65,014 3,345,361 0.2% RWE AG............................................. 106,628 3,783,350 0.2% Other Securities................................... 67,005,750 3.2% ------------ ----- TOTAL GERMANY.......................................... 99,800,224 5.0% ------------ ----- GREECE -- (0.1%) Other Securities................................... 2,382,506 0.1% ------------ ----- HONG KONG -- (2.1%) Other Securities................................... 43,244,641 2.2% ------------ ----- HUNGARY -- (0.0%) Other Securities................................... 619,809 0.0% ------------ ----- INDIA -- (2.0%) Other Securities................................... 39,999,109 2.0% ------------ ----- INDONESIA -- (0.6%) Other Securities................................... 12,490,588 0.6% ------------ ----- IRELAND -- (0.3%) Other Securities................................... 6,964,676 0.3% ------------ ----- ISRAEL -- (0.5%) Teva Pharmaceutical Industries, Ltd. Sponsored ADR. 67,449 3,808,845 0.2% Other Securities................................... 7,047,265 0.3% ------------ ----- TOTAL ISRAEL........................................... 10,856,110 0.5% ------------ ----- ITALY -- (1.9%) Other Securities................................... 37,493,880 1.9% ------------ ----- JAPAN -- (15.5%) Hitachi, Ltd....................................... 419,000 3,292,280 0.2% Honda Motor Co., Ltd............................... 104,000 3,324,800 0.2% Mizuho Financial Group, Inc........................ 1,822,055 3,320,359 0.2% Sumitomo Mitsui Financial Group, Inc............... 110,183 4,493,583 0.3% Toyota Motor Corp. Sponsored ADR................... 41,028 4,978,748 0.3% Other Securities................................... 293,915,348 14.5% ------------ ----- TOTAL JAPAN............................................ 313,325,118 15.7% ------------ ----- 32 T.A. WORLD EX U.S. CORE EQUITY PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- MALAYSIA -- (1.0%) Other Securities.............. $19,566,123 1.0% ----------- ---- MEXICO -- (1.2%) Other Securities.............. 24,253,737 1.2% ----------- ---- NETHERLANDS -- (1.9%) * ING Groep NV Sponsored ADR.... 240,205 3,439,736 0.2% Other Securities.............. 35,884,388 1.8% ----------- ---- TOTAL NETHERLANDS................. 39,324,124 2.0% ----------- ---- NEW ZEALAND -- (0.3%) Other Securities.............. 5,297,476 0.3% ----------- ---- NORWAY -- (0.7%) Other Securities.............. 14,879,465 0.7% ----------- ---- PERU -- (0.0%) Other Securities.............. 584,385 0.0% ----------- ---- PHILIPPINES -- (0.3%) Other Securities.............. 7,008,746 0.3% ----------- ---- POLAND -- (0.4%) Other Securities.............. 8,105,082 0.4% ----------- ---- PORTUGAL -- (0.2%) Other Securities.............. 4,560,851 0.2% ----------- ---- RUSSIA -- (0.4%) Other Securities.............. 7,669,598 0.4% ----------- ---- SINGAPORE -- (1.0%) Other Securities.............. 21,134,474 1.1% ----------- ---- SOUTH AFRICA -- (1.8%) Other Securities.............. 36,975,854 1.9% ----------- ---- SOUTH KOREA -- (3.8%) Samsung Electronics Co., Ltd.. 6,639 7,742,011 0.4% Other Securities.............. 68,227,614 3.4% ----------- ---- TOTAL SOUTH KOREA................. 75,969,625 3.8% ----------- ---- SPAIN -- (2.0%) Banco Santander SA............ 446,607 3,946,007 0.2% Iberdrola SA.................. 528,216 3,739,197 0.2% Other Securities.............. 33,350,637 1.7% ----------- ---- TOTAL SPAIN....................... 41,035,841 2.1% ----------- ---- SWEDEN -- (2.3%) Other Securities.............. 47,488,452 2.4% ----------- ---- SWITZERLAND -- (5.2%) Nestle SA..................... 281,158 20,618,468 1.0% Novartis AG ADR............... 117,451 10,886,533 0.6% Roche Holding AG.............. 19,398 5,724,376 0.3% 33 T.A. WORLD EX U.S. CORE EQUITY PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- SWITZERLAND -- (Continued) Swiss Re AG......................... 46,425 $ 3,753,963 0.2% Other Securities.................... 63,315,729 3.1% -------------- ----- TOTAL SWITZERLAND....................... 104,299,069 5.2% -------------- ----- TAIWAN -- (3.7%) Other Securities.................... 75,623,531 3.8% -------------- ----- THAILAND -- (0.7%) Other Securities.................... 14,780,771 0.7% -------------- ----- TURKEY -- (0.5%) Other Securities.................... 9,340,904 0.5% -------------- ----- UNITED KINGDOM -- (13.7%) AstraZeneca P.L.C. Sponsored ADR.... 53,810 3,924,901 0.2% BG Group P.L.C...................... 331,326 5,521,890 0.3% BP P.L.C. Sponsored ADR............. 239,210 10,396,067 0.5% HSBC Holdings P.L.C. Sponsored ADR.. 144,142 7,354,125 0.4% # Rio Tinto P.L.C. Sponsored ADR...... 89,653 4,300,654 0.2% Royal Dutch Shell P.L.C. ADR........ 167,001 12,469,965 0.6% Vodafone Group P.L.C. Sponsored ADR. 137,812 4,578,130 0.2% Other Securities.................... 228,387,642 11.5% -------------- ----- TOTAL UNITED KINGDOM.................... 276,933,374 13.9% -------------- ----- UNITED STATES -- (0.0%) Other Securities.................... 136,004 0.0% -------------- ----- TOTAL COMMON STOCKS..................... 1,969,475,802 98.7% -------------- ----- PREFERRED STOCKS -- (0.7%) BRAZIL -- (0.6%) Other Securities.................... 12,303,542 0.6% -------------- ----- CHILE -- (0.0%) Other Securities.................... 56,225 0.0% -------------- ----- COLOMBIA -- (0.0%) Other Securities.................... 365,740 0.0% -------------- ----- GERMANY -- (0.1%) Other Securities.................... 731,046 0.1% -------------- ----- MALAYSIA -- (0.0%) Other Securities.................... 1,799 0.0% -------------- ----- UNITED KINGDOM -- (0.0%) Other Securities.................... 18,387 0.0% -------------- ----- TOTAL PREFERRED STOCKS.................. 13,476,739 0.7% -------------- ----- RIGHTS/WARRANTS -- (0.0%) AUSTRIA -- (0.0%) Other Securities.................... -- 0.0% -------------- ----- BRAZIL -- (0.0%) Other Securities.................... 29 0.0% -------------- ----- CHINA -- (0.0%) Other Securities.................... 1,168 0.0% -------------- ----- 34 T.A. WORLD EX U.S. CORE EQUITY PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- FRANCE -- (0.0%) Other Securities................ $ 75,252 0.0% -------------- ------ GERMANY -- (0.0%) Other Securities................ 20,817 0.0% -------------- ------ HONG KONG -- (0.0%) Other Securities................ 24,334 0.0% -------------- ------ INDONESIA -- (0.0%) Other Securities................ 833 0.0% -------------- ------ ITALY -- (0.0%) Other Securities................ 19,932 0.0% -------------- ------ MALAYSIA -- (0.0%) Other Securities................ -- 0.0% -------------- ------ PORTUGAL -- (0.0%) Other Securities................ -- 0.0% -------------- ------ SPAIN -- (0.0%) Other Securities................ 92,949 0.0% -------------- ------ TAIWAN -- (0.0%) Other Securities................ 50 0.0% -------------- ------ THAILAND -- (0.0%) Other Securities................ 467 0.0% -------------- ------ UNITED KINGDOM -- (0.0%) Other Securities................ 47,947 0.0% -------------- ------ TOTAL RIGHTS/WARRANTS.................. 283,778 0.0% -------------- ------ SECURITIES LENDING COLLATERAL -- (2.1%) (S)@ DFA Short Term Investment Fund.. 3,630,495 42,004,824 2.1% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $1,708,921,106)................. $2,025,241,143 101.5% ============== ====== Summary of the Portfolio's investments as of October 31, 2014, 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...... $ 3,752,046 $100,857,951 -- $104,609,997 Austria........ -- 7,133,866 -- 7,133,866 Belgium........ 2,290,471 17,442,247 -- 19,732,718 Brazil......... 8,943,244 22,740,651 -- 31,683,895 Canada......... 141,402,697 6,114 -- 141,408,811 Chile.......... 1,662,859 4,013,087 -- 5,675,946 China.......... 10,234,086 84,769,665 -- 95,003,751 Colombia....... 1,968,719 -- -- 1,968,719 Czech Republic. -- 813,052 -- 813,052 Denmark........ 940,648 21,010,401 -- 21,951,049 Egypt.......... -- 99,779 -- 99,779 Finland........ 50,183 24,330,330 -- 24,380,513 35 T.A. WORLD EX U.S. CORE EQUITY PORTFOLIO CONTINUED Investments in Securities (Market Value) -------------------------------------------------- Level 1 Level 2 Level 3 Total ------------ -------------- ------- -------------- Common Stocks (Continued) France...................... $ 9,589,480 $ 103,280,079 -- $ 112,869,559 Germany..................... 6,221,513 93,578,711 -- 99,800,224 Greece...................... -- 2,382,506 -- 2,382,506 Hong Kong................... 232,984 43,011,657 -- 43,244,641 Hungary..................... 28,369 591,440 -- 619,809 India....................... 2,536,948 37,462,161 -- 39,999,109 Indonesia................... 286,225 12,204,363 -- 12,490,588 Ireland..................... 1,248,594 5,716,082 -- 6,964,676 Israel...................... 4,202,617 6,653,493 -- 10,856,110 Italy....................... 2,479,458 35,014,422 -- 37,493,880 Japan....................... 15,910,776 297,414,342 -- 313,325,118 Malaysia.................... -- 19,566,123 -- 19,566,123 Mexico...................... 24,252,911 826 -- 24,253,737 Netherlands................. 10,134,359 29,189,765 -- 39,324,124 New Zealand................. 17,944 5,279,532 -- 5,297,476 Norway...................... 1,506,869 13,372,596 -- 14,879,465 Peru........................ 584,385 -- -- 584,385 Philippines................. 70,130 6,938,616 -- 7,008,746 Poland...................... -- 8,105,082 -- 8,105,082 Portugal.................... -- 4,560,851 -- 4,560,851 Russia...................... 108,421 7,561,177 -- 7,669,598 Singapore................... -- 21,134,474 -- 21,134,474 South Africa................ 3,984,184 32,991,670 -- 36,975,854 South Korea................. 5,080,562 70,889,063 -- 75,969,625 Spain....................... 5,081,226 35,954,615 -- 41,035,841 Sweden...................... 1,085,332 46,403,120 -- 47,488,452 Switzerland................. 17,754,627 86,544,442 -- 104,299,069 Taiwan...................... 3,032,570 72,590,961 -- 75,623,531 Thailand.................... 14,780,771 -- -- 14,780,771 Turkey...................... 176,325 9,164,579 -- 9,340,904 United Kingdom.............. 66,475,382 210,457,992 -- 276,933,374 United States............... 119,026 16,978 -- 136,004 Preferred Stocks Brazil...................... 4,574,656 7,728,886 -- 12,303,542 Chile....................... -- 56,225 -- 56,225 Colombia.................... 365,740 -- -- 365,740 Germany..................... -- 731,046 -- 731,046 Malaysia.................... -- 1,799 -- 1,799 United Kingdom.............. -- 18,387 -- 18,387 Rights/Warrants Austria..................... -- -- -- -- Brazil...................... -- 29 -- 29 China....................... -- 1,168 -- 1,168 France...................... -- 75,252 -- 75,252 Germany..................... -- 20,817 -- 20,817 Hong Kong................... -- 24,334 -- 24,334 Indonesia................... -- 833 -- 833 Italy....................... -- 19,932 -- 19,932 Malaysia.................... -- -- -- -- Portugal.................... -- -- -- -- Spain....................... -- 92,949 -- 92,949 Taiwan...................... -- 50 -- 50 Thailand.................... -- 467 -- 467 United Kingdom.............. 45,713 2,234 -- 47,947 Securities Lending Collateral. -- 42,004,824 -- 42,004,824 ------------ -------------- -- -------------- TOTAL......................... $373,213,050 $1,652,028,093 -- $2,025,241,143 ============ ============== == ============== See accompanying Notes to Financial Statements. 36 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2014 (Amounts in thousands, except share and per share amounts) Tax-Managed Tax-Managed U.S. Tax-Managed U.S. Targeted Tax-Managed Marketwide U.S. Equity Value U.S. Small Value Portfolio Portfolio* Portfolio* Cap Portfolio* --------------- ------------ ------------- -------------- ASSETS: Investments in Affiliated Investment Company at Value....... $ 3,663,379 -- -- -- Investments at Value (including $0, $201,616, $642,659 and $498,753 of securities on loan, respectively).......... -- $ 2,303,596 $ 3,548,398 $ 2,069,204 Temporary Cash Investments at Value & Cost.................. -- 10,355 25,154 26,654 Collateral from Securities on Loan Invested in Affiliate at Value & Cost............................................... -- 196,822 636,800 503,302 Cash........................................................ -- 356 8,973 65 Receivables: Investment Securities/Affiliated Investment Company Sold..................................................... -- -- 7,332 2,954 Dividends, Interest and Tax Reclaims...................... -- 1,986 1,074 685 Securities Lending Income................................. -- 54 163 223 Fund Shares Sold.......................................... 2,787 2,214 3,229 2,848 Prepaid Expenses and Other Assets........................... 37 18 39 27 ------------ ------------ ------------ ------------ Total Assets........................................... 3,666,203 2,515,401 4,231,162 2,605,962 ------------ ------------ ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned.......................... -- 196,822 636,800 503,302 Investment Securities/Affiliated Investment Company Purchased................................................ -- 5,918 19,791 8,572 Fund Shares Redeemed...................................... 1,444 670 896 597 Due to Advisor............................................ 444 395 1,195 828 Accrued Expenses and Other Liabilities...................... 141 145 173 105 ------------ ------------ ------------ ------------ Total Liabilities...................................... 2,029 203,950 658,855 513,404 ------------ ------------ ------------ ------------ NET ASSETS.................................................. $ 3,664,174 $ 2,311,451 $ 3,572,307 $ 2,092,558 ============ ============ ============ ============ SHARES OUTSTANDING, $0.01 PAR VALUE (1)..................... 144,668,343 105,614,976 107,143,887 56,566,252 ============ ============ ============ ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE............................................ $ 25.33 $ 21.89 $ 33.34 $ 36.99 ============ ============ ============ ============ Investments in Affiliated Investment Company at Cost........ $ 1,984,419 $ -- $ -- $ -- ------------ ------------ ------------ ------------ Investments at Cost......................................... $ -- $ 1,094,528 $ 2,041,088 $ 1,119,039 ============ ============ ============ ============ NET ASSETS CONSIST OF: Paid-In Capital............................................. $ 2,078,285 $ 1,463,955 $ 1,936,848 $ 1,102,477 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)........................... 7,038 4,691 2,763 1,238 Accumulated Net Realized Gain (Loss)........................ (100,109) (366,263) 125,386 38,678 Net Unrealized Appreciation (Depreciation).................. 1,678,960 1,209,068 1,507,310 950,165 ------------ ------------ ------------ ------------ NET ASSETS.................................................. $ 3,664,174 $ 2,311,451 $ 3,572,307 $ 2,092,558 ============ ============ ============ ============ (1) NUMBER OF SHARES AUTHORIZED............................. 700,000,000 500,000,000 700,000,000 500,000,000 ============ ============ ============ ============ ---------- * See Note I in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 37 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2014 (Amounts in thousands, except share and per share amounts) Tax-Managed DFA T.A. World ex T.A. U.S. Core International U.S. Core Equity 2 Value Equity Portfolio* Portfolio* Portfolio* -------------- ------------- ------------- ASSETS: Investments at Value (including $601,837, $11,388 and $48,727 of securities on loan, respectively)..................................................... $ 5,047,278 $ 2,958,995 $ 1,983,236 Temporary Cash Investments at Value & Cost.................................. 6,534 -- -- Collateral from Securities on Loan Invested in Affiliate at Value & Cost.... 579,947 11,738 42,005 Foreign Currencies at Value................................................. -- 4,794 2,225 Cash........................................................................ 2,203 4,963 7,766 Receivables: Investment Securities Sold................................................ 228 -- 82 Dividends, Interest and Tax Reclaims...................................... 3,887 8,313 3,939 Securities Lending Income................................................. 229 50 90 Fund Shares Sold.......................................................... 4,239 2,405 2,020 Prepaid Expenses and Other Assets........................................... 59 42 23 -------------- ------------ ------------ Total Assets........................................................... 5,644,604 2,991,300 2,041,386 -------------- ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned.......................................... 579,947 11,738 42,005 Investment Securities Purchased........................................... 4,842 10 1,635 Fund Shares Redeemed...................................................... 2,471 845 1,382 Due to Advisor............................................................ 901 1,232 661 Accrued Expenses and Other Liabilities...................................... 232 218 203 -------------- ------------ ------------ Total Liabilities...................................................... 588,393 14,043 45,886 -------------- ------------ ------------ NET ASSETS.................................................................. $ 5,056,211 $ 2,977,257 $ 1,995,500 ============== ============ ============ SHARES OUTSTANDING, $0.01 PAR VALUE (1)..................................... 355,930,533 196,259,197 200,776,691 ============== ============ ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE...................................................................... $ 14.21 $ 15.17 $ 9.94 ============== ============ ============ Investments at Cost......................................................... $ 2,998,549 $ 2,735,993 $ 1,666,916 ============== ============ ============ Foreign Currencies at Cost.................................................. $ -- $ 4,872 $ 2,245 ============== ============ ============ NET ASSETS CONSIST OF: Paid-In Capital............................................................. $ 2,936,558 $ 2,750,729 $ 1,680,359 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)......................................................... 7,977 5,745 7,102 Accumulated Net Realized Gain (Loss)........................................ 62,947 (1,858) (8,139) Net Unrealized Foreign Exchange Gain (Loss)................................. -- (283) (122) Net Unrealized Appreciation (Depreciation).................................. 2,048,729 222,924 316,300 -------------- ------------ ------------ NET ASSETS.................................................................. $ 5,056,211 $ 2,977,257 $ 1,995,500 ============== ============ ============ (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. 38 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2014 (Amounts in thousands) Tax-Managed U.S. Tax-Managed Marketwide Tax-Managed U.S. Targeted Value U.S. Equity Value Portfolio* Portfolio Portfolio ----------- ----------- ------------- Investment Income Net Investment Income Allocated from Affiliated Investment Company: Dividends (Net of Foreign Taxes Withheld of $5, $0 and $0, respectively). $ 61,516 -- -- Interest................................................................. 5 -- -- Income from Securities Lending........................................... 595 -- -- Expenses Allocated from Affiliated Investment Company.................... (7,155) -- -- -------- -------- -------- Total Net Investment Income Received from Affiliated Investment Company.............................................................. 54,961 -- -- -------- -------- -------- Fund Investment Income Dividends (Net of Foreign Taxes Withheld of $0, $7 and $5, respectively). -- $ 40,068 $ 40,380 Interest................................................................. -- 3 6 Income from Securities Lending........................................... -- 487 1,638 -------- -------- -------- Total Investment Income............................................... -- 40,558 42,024 -------- -------- -------- Fund Expenses Investment Advisory Services Fees........................................ -- 1,078 14,335 Administrative Services Fees............................................. 5,116 3,235 -- Accounting & Transfer Agent Fees......................................... 44 125 196 Custodian Fees........................................................... -- 34 48 Filing Fees.............................................................. 71 58 74 Shareholders' Reports.................................................... 46 25 45 Directors'/Trustees' Fees & Expenses..................................... 24 15 24 Professional Fees........................................................ 21 48 76 Other.................................................................... 20 28 31 -------- -------- -------- Total Expenses........................................................ 5,342 4,646 14,829 -------- -------- -------- Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor (Note C)........................................... -- 99 -- -------- -------- -------- Net Expenses............................................................. 5,342 4,745 14,829 -------- -------- -------- Net Investment Income (Loss)............................................. 49,619 35,813 27,195 -------- -------- -------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold............................................. 13,291 27,514 131,281 Futures................................................................ -- -- (690) Change in Unrealized Appreciation (Depreciation) of: Investment Securities.................................................. 407,407 253,351 194,442 -------- -------- -------- Net Realized and Unrealized Gain (Loss).................................. 420,698 280,865 325,033 -------- -------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations............ $470,317 $316,678 $352,228 ======== ======== ======== ---------- * 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. 39 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2014 (Amounts in thousands) Tax-Managed DFA T.A. World ex Tax-Managed T.A. U.S. Core International U.S. Core U.S. Small Equity 2 Value Equity Cap Portfolio Portfolio Portfolio Portfolio ------------- -------------- ------------- ------------- Investment Income Dividends (Net of Foreign Taxes Withheld of $4, $9, $8,095 and $4,964, respectively).................................. $ 22,095 $ 78,174 $ 137,931 $ 59,591 Interest.................................................... 3 6 1 -- Income from Securities Lending.............................. 2,201 2,272 1,207 1,171 -------- -------- --------- -------- Total Investment Income.................................. 24,299 80,452 139,139 60,762 -------- -------- --------- -------- Fund Expenses Investment Advisory Services Fees........................... 9,976 10,157 14,928 7,688 Accounting & Transfer Agent Fees............................ 116 263 182 121 Custodian Fees.............................................. 35 70 302 587 Filing Fees................................................. 56 171 124 110 Shareholders' Reports....................................... 31 45 50 28 Directors'/Trustees' Fees & Expenses........................ 14 33 21 13 Professional Fees........................................... 46 98 94 86 Other....................................................... 24 48 39 37 -------- -------- --------- -------- Total Expenses........................................... 10,298 10,885 15,740 8,670 -------- -------- --------- -------- Fees Paid Indirectly........................................ -- -- (5) (4) -------- -------- --------- -------- Net Expenses................................................ 10,298 10,885 15,735 8,666 -------- -------- --------- -------- Net Investment Income (Loss)................................ 14,001 69,567 123,404 52,096 -------- -------- --------- -------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold................................ 42,026 67,738 11,012 (3,177) Foreign Currency Transactions............................. -- -- (985) (438) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency................ 105,851 447,786 (180,297) (61,190) Translation of Foreign Currency Denominated Amounts....... -- -- (361) (161) -------- -------- --------- -------- Net Realized and Unrealized Gain (Loss)..................... 147,877 515,524 (170,631) (64,966) -------- -------- --------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations................................................... $161,878 $585,091 $ (47,227) $(12,870) ======== ======== ========= ======== See accompanying Notes to Financial Statements. 40 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (Amounts in thousands) Tax-Managed U.S. Tax-Managed U.S. Equity Tax-Managed U.S. Targeted Marketwide Value Portfolio Portfolio 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, 2014 2013 2014 2013 2014 2013 ---------- ---------- ---------- ---------- ---------- ---------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)........................... $ 49,619 $ 45,063 $ 35,813 $ 33,279 $ 27,195 $ 34,184 Net Realized Gain (Loss) on: Investment Securities Sold/ Affiliated Investment Company Sold.................... 13,291 28,282 27,514 31,573 131,281 90,493 Futures.......................... -- -- -- -- (690) (469) Change in Unrealized Appreciation (Depreciation) of: Investment Securities/ Affiliated Investment Company......................... 407,407 749,568 253,351 385,510 194,442 808,724 ---------- ---------- ---------- ---------- ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations................ 470,317 822,913 316,678 450,362 352,228 932,932 ---------- ---------- ---------- ---------- ---------- ---------- Distributions From: Net Investment Income............. (49,288) (45,918) (35,329) (33,403) (28,250) (34,487) Net Long-Term Gains............... -- -- -- -- (83,909) (51,974) ---------- ---------- ---------- ---------- ---------- ---------- Total Distributions............. (49,288) (45,918) (35,329) (33,403) (112,159) (86,461) ---------- ---------- ---------- ---------- ---------- ---------- Capital Share Transactions (1): Shares Issued..................... 485,118 413,061 243,147 292,819 421,700 351,960 Shares Issued in Lieu of Cash Distributions.................... 48,347 44,666 33,504 31,525 110,967 85,408 Shares Redeemed................... (400,756) (469,582) (238,010) (272,253) (401,482) (461,353) ---------- ---------- ---------- ---------- ---------- ---------- Net Increase (Decrease) from Capital Share Transactions................... 132,709 (11,855) 38,641 52,091 131,185 (23,985) ---------- ---------- ---------- ---------- ---------- ---------- Total Increase (Decrease) in Net Assets.................. 553,738 765,140 319,990 469,050 371,254 822,486 Net Assets Beginning of Year................. 3,110,436 2,345,296 1,991,461 1,522,411 3,201,053 2,378,567 ---------- ---------- ---------- ---------- ---------- ---------- End of Year....................... $3,664,174 $3,110,436 $2,311,451 $1,991,461 $3,572,307 $3,201,053 ========== ========== ========== ========== ========== ========== (1) Shares Issued and Redeemed: Shares Issued..................... 20,163 21,510 11,836 17,525 13,051 13,343 Shares Issued in Lieu of Cash Distributions.................... 1,996 2,374 1,626 1,885 3,550 3,664 Shares Redeemed................... (16,683) (24,667) (11,547) (16,115) (12,503) (17,890) ---------- ---------- ---------- ---------- ---------- ---------- Net Increase (Decrease) from Shares Issued and Redeemed....................... 5,476 (783) 1,915 3,295 4,098 (883) ========== ========== ========== ========== ========== ========== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)............................ $ 7,038 $ 6,707 $ 4,691 $ 4,207 $ 2,763 $ 4,769 Tax-Managed U.S. Small Cap Portfolio ---------------------- Year Year Ended Ended Oct. 31, Oct. 31, 2014 2013 ---------- ---------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)........................... $ 14,001 $ 18,958 Net Realized Gain (Loss) on: Investment Securities Sold/ Affiliated Investment Company Sold.................... 42,026 66,451 Futures.......................... -- -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities/ Affiliated Investment Company......................... 105,851 440,389 ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations................ 161,878 525,798 ---------- ---------- Distributions From: Net Investment Income............. (14,279) (19,758) Net Long-Term Gains............... -- -- ---------- ---------- Total Distributions............. (14,279) (19,758) ---------- ---------- Capital Share Transactions (1): Shares Issued..................... 293,195 265,581 Shares Issued in Lieu of Cash Distributions.................... 14,005 19,249 Shares Redeemed................... (235,176) (249,201) ---------- ---------- Net Increase (Decrease) from Capital Share Transactions................... 72,024 35,629 ---------- ---------- Total Increase (Decrease) in Net Assets.................. 219,623 541,669 Net Assets Beginning of Year................. 1,872,935 1,331,266 ---------- ---------- End of Year....................... $2,092,558 $1,872,935 ========== ========== (1) Shares Issued and Redeemed: Shares Issued..................... 8,159 9,157 Shares Issued in Lieu of Cash Distributions.................... 389 725 Shares Redeemed................... (6,577) (8,677) ---------- ---------- Net Increase (Decrease) from Shares Issued and Redeemed....................... 1,971 1,205 ========== ========== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)............................ $ 1,238 $ 2,335 See accompanying Notes to Financial Statements. 41 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (Amounts in thousands) T.A. U.S. Core Equity 2 Tax-Managed DFA T.A. World ex U.S. Core Portfolio International Value 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, 2014 2013 2014 2013 2014 2013 ---------- ---------- ---------- ---------- ---------- ---------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)................. $ 69,567 $ 59,525 $ 123,404 $ 62,438 $ 52,096 $ 36,104 Net Realized Gain (Loss) on: Investment Securities Sold................. 67,738 40,753 11,012 21,533 (3,177) 4,345 Foreign Currency Transactions.............. -- -- (985) (449) (438) (309) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.................................. 447,786 894,300 (180,297) 480,686 (61,190) 263,265 Translation of Foreign Currency Denominated Amounts....................... -- -- (361) 267 (161) 82 ---------- ---------- ---------- ---------- ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations................ 585,091 994,578 (47,227) 564,475 (12,870) 303,487 ---------- ---------- ---------- ---------- ---------- ---------- Distributions From: Net Investment Income........................ (66,232) (58,615) (120,029) (64,636) (50,359) (37,052) Net Long-Term Gains.......................... (39,638) (3,496) -- -- (4,097) (436) ---------- ---------- ---------- ---------- ---------- ---------- Total Distributions....................... (105,870) (62,111) (120,029) (64,636) (54,456) (37,488) ---------- ---------- ---------- ---------- ---------- ---------- Capital Share Transactions (1): Shares Issued................................ 947,444 772,713 644,899 540,616 573,754 401,186 Shares Issued in Lieu of Cash Distributions............................... 105,601 61,302 118,507 63,075 54,321 36,576 Shares Redeemed.............................. (579,808) (515,963) (377,277) (316,534) (291,144) (218,473) ---------- ---------- ---------- ---------- ---------- ---------- Net Increase (Decrease) from Capital Share Transactions....................... 473,237 318,052 386,129 287,157 336,931 219,289 ---------- ---------- ---------- ---------- ---------- ---------- Total Increase (Decrease) in Net Assets................................... 952,458 1,250,519 218,873 786,996 269,605 485,288 Net Assets Beginning of Year............................ 4,103,753 2,853,234 2,758,384 1,971,388 1,725,895 1,240,607 ---------- ---------- ---------- ---------- ---------- ---------- End of Year.................................. $5,056,211 $4,103,753 $2,977,257 $2,758,384 $1,995,500 $1,725,895 ========== ========== ========== ========== ========== ========== (1) Shares Issued and Redeemed: Shares Issued................................ 69,846 70,037 40,390 37,954 55,671 42,914 Shares Issued in Lieu of Cash Distributions............................... 7,944 5,642 7,273 4,452 5,218 3,951 Shares Redeemed.............................. (43,069) (47,040) (23,934) (22,556) (28,483) (23,452) ---------- ---------- ---------- ---------- ---------- ---------- Net Increase (Decrease) from Shares Issued and Redeemed...................... 34,721 28,639 23,729 19,850 32,406 23,413 ========== ========== ========== ========== ========== ========== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)............................ $ 7,977 $ 6,548 $ 5,745 $ 5,574 $ 7,102 $ 4,139 See accompanying Notes to Financial Statements. 42 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, 2014 2013 2012 2011 2010 -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year............ $ 22.35 $ 16.76 $ 14.42 $ 13.78 $ 11.61 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)............ 0.35 0.32 0.28 0.22 0.16 Net Gains (Losses) on Securities (Realized and Unrealized)............................ 2.98 5.60 2.33 0.63 2.17 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations........... 3.33 5.92 2.61 0.85 2.33 -------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income....................... (0.35) (0.33) (0.27) (0.21) (0.16) Total Distributions........................ (0.35) (0.33) (0.27) (0.21) (0.16) -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year.................. $ 25.33 $ 22.35 $ 16.76 $ 14.42 $ 13.78 ============================================== ========== ========== ========== ========== ========== Total Return.................................. 14.98% 35.71% 18.34% 6.15% 20.17% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)........... $3,664,174 $3,110,436 $2,345,296 $2,063,119 $1,896,941 Ratio of Expenses to Average Net Assets....... 0.37%(B) 0.37%(B) 0.38%(B) 0.38%(B) 0.38%(B) Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor)........................ 0.37%(B) 0.37%(B) 0.38%(B) 0.38%(B) 0.38%(B) Ratio of Net Investment Income to Average Net Assets....................................... 1.45% 1.66% 1.83% 1.45% 1.24% 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, 2014 2013 2012 2011 2010 --------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year............ $ 19.20 $ 15.16 $ 13.48 $ 12.70 $ 10.94 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)............ 0.34 0.32 0.27 0.23 0.20 Net Gains (Losses) on Securities (Realized and Unrealized)............................ 2.69 4.05 1.67 0.77 1.76 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations........... 3.03 4.37 1.94 1.00 1.96 --------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income....................... (0.34) (0.33) (0.26) (0.22) (0.20) Total Distributions........................ (0.34) (0.33) (0.26) (0.22) (0.20) --------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year.................. $ 21.89 $ 19.20 $ 15.16 $ 13.48 $ 12.70 ============================================== ========== ========== ========== ========== ========== Total Return.................................. 15.89% 29.15% 14.57% 7.92% 18.10% --------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)........... $2,311,451 $1,991,461 $1,522,411 $1,364,068 $1,286,236 Ratio of Expenses to Average Net Assets....... 0.22% 0.22% 0.22% 0.22%** 0.22%(B) Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor)........................ 0.22% 0.22% 0.22% 0.23%** 0.23%(B) Ratio of Net Investment Income to Average Net Assets....................................... 1.66% 1.89% 1.87% 1.65% 1.70% Portfolio Turnover Rate....................... 2% 3% 7% 11%* 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. 43 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 Year Ended Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2012 2011 2010 2014 --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year................ $ 31.06 $ 22.89 $ 20.02 $ 19.09 $ 14.96 $ 34.31 ---------- ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................ 0.26 0.33 0.21 0.14 0.11 0.25 Net Gains (Losses) on Securities (Realized and Unrealized).................................... 3.11 8.69 2.85 0.93 4.13 2.69 ---------- ---------- ---------- ---------- ---------- ---------- Total from Investment Operations............... 3.37 9.02 3.06 1.07 4.24 2.94 --------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income........................... (0.27) (0.34) (0.19) (0.14) (0.11) (0.26) Net Realized Gains.............................. (0.82) (0.51) -- -- -- -- Total Distributions............................ (1.09) (0.85) (0.19) (0.14) (0.11) (0.26) --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year...................... $ 33.34 $ 31.06 $ 22.89 $ 20.02 $ 19.09 $ 36.99 ================================================= ========== ========== ========== ========== ========== ========== Total Return...................................... 11.10% 40.60% 15.39% 5.58% 28.43% 8.58% --------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)............... $3,572,307 $3,201,053 $2,378,567 $2,191,055 $2,145,546 $2,092,558 Ratio of Expenses to Average Net Assets........... 0.43% 0.44% 0.44% 0.44% 0.45% 0.52% Ratio of Net Investment Income to Average Net Assets........................................... 0.80% 1.24% 0.98% 0.66% 0.63% 0.70% Portfolio Turnover Rate........................... 7% 6% 12% 21% 26% 7% --------------------------------------------------------------------------------------------------------------------------- Tax-Managed U.S. Small Cap 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................ $ 24.93 $ 22.07 $ 20.47 $ 16.26 ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................ 0.35 0.21 0.15 0.11 Net Gains (Losses) on Securities (Realized and Unrealized).................................... 9.40 2.85 1.59 4.20 ---------- ---------- ---------- ---------- Total from Investment Operations............... 9.75 3.06 1.74 4.31 -------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income........................... (0.37) (0.20) (0.14) (0.10) Net Realized Gains.............................. -- -- -- -- Total Distributions............................ (0.37) (0.20) (0.14) (0.10) -------------------------------------------------------------------------------------------------- Net Asset Value, End of Year...................... $ 34.31 $ 24.93 $ 22.07 $ 20.47 ================================================= ========== ========== ========== ========== Total Return...................................... 39.55% 13.95% 8.50% 26.61% -------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)............... $1,872,935 $1,331,266 $1,212,285 $1,141,494 Ratio of Expenses to Average Net Assets........... 0.52% 0.53% 0.53% 0.53% Ratio of Net Investment Income to Average Net Assets........................................... 1.20% 0.90% 0.64% 0.58% Portfolio Turnover Rate........................... 7% 17% 22% 27% -------------------------------------------------------------------------------------------------- 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) 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, 2014 2013 2012 2011 2010 -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 12.78 $ 9.75 $ 8.63 $ 8.18 $ 6.83 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.20 0.19 0.16 0.12 0.11 Net Gains (Losses) on Securities (Realized and Unrealized). 1.55 3.04 1.11 0.45 1.35 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations.......................... 1.75 3.23 1.27 0.57 1.46 -------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.20) (0.19) (0.15) (0.12) (0.11) Net Realized Gains......................................... (0.12) (0.01) -- -- -- Total Distributions....................................... (0.32) (0.20) (0.15) (0.12) (0.11) -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 14.21 $ 12.78 $ 9.75 $ 8.63 $ 8.18 ============================================================= ========== ========== ========== ========== ========== Total Return................................................. 13.88% 33.58% 14.82% 6.97% 21.49% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $5,056,211 $4,103,753 $2,853,234 $2,432,872 $2,014,584 Ratio of Expenses to Average Net Assets...................... 0.24% 0.24% 0.24% 0.24% 0.25% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)......... 0.24% 0.24% 0.24% 0.24% 0.25% Ratio of Net Investment Income to Average Net Assets......... 1.51% 1.72% 1.71% 1.39% 1.45% Portfolio Turnover Rate...................................... 7% 2% 6% 6% 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, 2014 2013 2012 2011 2010 --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 15.99 $ 12.91 $ 12.99 $ 14.53 $ 13.49 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.66 0.39 0.42 0.46 0.31 Net Gains (Losses) on Securities (Realized and Unrealized). (0.83) 3.09 (0.10) (1.55) 1.03 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations.......................... (0.17) 3.48 0.32 (1.09) 1.34 --------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.65) (0.40) (0.40) (0.45) (0.30) Net Realized Gains......................................... -- -- -- -- -- Total Distributions....................................... (0.65) (0.40) (0.40) (0.45) (0.30) --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 15.17 $ 15.99 $ 12.91 $ 12.99 $ 14.53 ============================================================= ========== ========== ========== ========== ========== Total Return................................................. (1.29)% 27.39% 2.77% (7.81)% 10.34% --------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $2,977,257 $2,758,384 $1,971,388 $1,843,496 $1,834,003 Ratio of Expenses to Average Net Assets...................... 0.53% 0.53% 0.55% 0.55% 0.55% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)......... 0.53% 0.53% 0.55% 0.55% 0.55% Ratio of Net Investment Income to Average Net Assets......... 4.13% 2.70% 3.32% 3.16% 2.29% Portfolio Turnover Rate...................................... 13% 12% 18% 16% 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. 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, 2014 2013 2012 2011 2010 ---------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year.......................... $ 10.25 $ 8.56 $ 8.39 $ 9.31 $ 8.13 ---------- ---------- ---------- ---------- -------- Income from Investment Operations ---------------------- Net Investment Income (Loss) (A)......................... 0.28 0.23 0.23 0.25 0.17 Net Gains (Losses) on Securities (Realized and Unrealized)................. (0.30) 1.70 0.16 (0.93) 1.17 ---------- ---------- ---------- ---------- -------- Total from Investment Operations................. (0.02) 1.93 0.39 (0.68) 1.34 ---------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income......... (0.27) (0.24) (0.22) (0.24) (0.16) Net Realized Gains............ (0.02) -- -- -- -- ---------- ---------- ---------- ---------- -------- Total Distributions......... (0.29) (0.24) (0.22) (0.24) (0.16) ---------------------------------------------------------------------------------------------- Net Asset Value, End of Year... $ 9.94 $ 10.25 $ 8.56 $ 8.39 $ 9.31 ============================= ========== ========== ========== ========== ======== Total Return................... (0.25)%(C) 22.88% 4.90% (7.55)% 16.78% ---------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)................... $1,995,500 $1,725,895 $1,240,607 $1,042,981 $966,999 Ratio of Expenses to Average Net Assets.................... 0.45%(D) 0.46% 0.49% 0.48% 0.48% Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)......... 0.45%(D) 0.46% 0.49% 0.48% 0.48% Ratio of Net Investment Income to Average Net Assets.. 2.71%(D) 2.45% 2.77% 2.63% 2.00% Portfolio Turnover Rate........ 8%(C) 2% 3% 5% 2% ---------------------------------------------------------------------------------------------- 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 to institutional investors, retirement plans and clients of registered investment advisors. The Fund consists of seventy-seven operational portfolios, seven of which (the "Portfolios"), are included in this section of the report. The remaining seventy 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, 2014, 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 47 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 ask prices which approximates 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, 2:00 a.m. ET), which is fourteen hours before the close of the NYSE (normally, 4:00 p.m. ET) 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. For the year ended October 31, 2014, there were no significant transfers between Level 1 and Level 2 and no significant 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. 48 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, 2014, 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 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. 49 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, 2014, 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% * Prior to February 28, 2014, the Portfolio was provided administrative services under an administrative agreement. Effective February 28, 2014, the administrative agreement and investment advisory agreement for the Portfolio was combined into an investment management agreement that provides for an investment management fee, equal to the Portfolio's previous investment advisory services fee and administrative services fee, payable to the Advisor for both investment advisory services and administrative services. 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 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 Fee Waiver Agreement for the Portfolios below will remain in effect through February 28, 2015, and may only be terminated by the Fund's Board of Directors prior to that date. The Fee Waiver Agreement shall continue in effect from year to year thereafter unless terminated by the Fund or the Advisor. For the year ended October 31, 2014, 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% $99 $109 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 management 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 expenses when its total operating expenses 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 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 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 50 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, certain Portfolios have entered into arrangements with their 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, 2014, expenses reduced were as follows (amounts in thousands): Fees Paid Indirectly ---------- Tax-Managed DFA International Value Portfolio. $5 T.A. World ex U.S. Core Equity Portfolio...... 4 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, 2014, the total related amounts paid to the CCO by the Fund were $262 (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, 2014, 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... $86 Tax-Managed U.S. Equity Portfolio............. 98 Tax-Managed U.S. Targeted Value Portfolio..... 89 Tax-Managed U.S. Small Cap Portfolio.......... 52 T.A. U.S. Core Equity 2 Portfolio............. 87 Tax-Managed DFA International Value Portfolio. 78 T.A. World ex U.S. Core Equity Portfolio...... 38 51 E. Purchases and Sales of Securities: For the year ended October 31, 2014, 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............. $ 82,865 $ 35,552 Tax-Managed U.S. Targeted Value Portfolio..... 333,589 253,566 Tax-Managed U.S. Small Cap Portfolio.......... 247,642 136,448 T.A. U.S. Core Equity 2 Portfolio............. 802,222 323,423 Tax-Managed DFA International Value Portfolio. 731,036 381,824 T.A. World ex U.S. Core Equity Portfolio...... 488,497 160,440 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, 2014, primarily attributable to net foreign currency gains/losses, realized gains on securities considered to be "passive foreign investment companies", 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... -- -- -- Tax-Managed U.S. Equity Portfolio............. -- -- -- Tax-Managed U.S. Targeted Value Portfolio..... $5,510 $ (951) $(4,559) Tax-Managed U.S. Small Cap Portfolio.......... 2,293 (819) (1,474) T.A. U.S. Core Equity 2 Portfolio............. 3,792 (1,906) (1,887) Tax-Managed DFA International Value Portfolio. 2,291 (3,204) 913 T.A. World ex U.S. Core Equity Portfolio...... 846 1,226 (2,072) The tax character of dividends and distributions declared and paid during the years ended October 31, 2013 and October 31, 2014 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 2013........................................ $45,918 -- $45,918 2014........................................ 49,288 -- 49,288 52 Net Investment Income and Short-Term Long-Term Capital Gains Capital Gains Total -------------- ------------- -------- Tax-Managed U.S. Equity Portfolio 2013.......................................... $ 33,403 -- $ 33,403 2014.......................................... 35,329 -- 35,329 Tax-Managed U.S. Targeted Value Portfolio 2013.......................................... 34,487 $51,974 86,461 2014.......................................... 28,250 83,909 112,159 Tax-Managed U.S. Small Cap Portfolio 2013.......................................... 19,758 -- 19,758 2014.......................................... 14,279 -- 14,279 T.A. U.S. Core Equity 2 Portfolio 2013.......................................... 58,615 3,496 62,111 2014.......................................... 66,232 39,638 105,870 Tax-Managed DFA International Value Portfolio 2013.......................................... 64,636 -- 64,636 2014.......................................... 120,029 -- 120,029 T.A. World ex U.S. Core Equity Portfolio 2013.......................................... 37,052 436 37,488 2014.......................................... 50,468 3,988 54,456 At October 31, 2014, 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..... $ 953 $4,557 $5,510 Tax-Managed U.S. Small Cap Portfolio.......... 499 1,464 1,963 T.A. U.S. Core Equity 2 Portfolio............. 1,921 1,871 3,792 Tax-Managed DFA International Value Portfolio. 895 18 913 T.A. World ex U.S. Core Equity Portfolio...... 846 -- 846 At October 31, 2014, 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 Carryforward (Depreciation) Losses) -------------- ------------- ------------ -------------- ------------- Tax-Managed U.S. Marketwide Value Portfolio......................... $7,175 -- $ (99,663) $1,678,512 $1,586,024 Tax-Managed U.S. Equity Portfolio... 4,787 -- (365,482) 1,208,288 847,593 Tax-Managed U.S. Targeted Value Portfolio......................... 2,928 $125,781 -- 1,506,840 1,635,549 Tax-Managed U.S. Small Cap Portfolio......................... 1,290 38,979 -- 949,863 990,132 T.A. U.S. Core Equity 2 Portfolio... 8,064 65,622 -- 2,046,055 2,119,741 Tax-Managed DFA International Value Portfolio......................... 7,474 2,411 -- 216,722 226,607 T.A. World ex U.S. Core Equity Portfolio......................... 9,110 -- (5,535) 311,604 315,179 53 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, 2014, 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 Unlimited Total ------- -------- --------- -------- Tax-Managed U.S. Marketwide Value Portfolio... -- $ 99,663 -- $ 99,663 Tax-Managed U.S. Equity Portfolio............. $78,916 286,566 -- 365,482 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...... -- -- $5,535 5,535 During the year ended October 31, 2014, 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... $13,254 Tax-Managed U.S. Equity Portfolio............. 27,306 Tax-Managed U.S. Small Cap Portfolio.......... 1,518 Tax-Managed DFA International Value Portfolio. 8,800 At October 31, 2014, 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, as follows (amounts in thousands): Net Unrealized Federal Unrealized Unrealized Appreciation Tax Cost Appreciation Depreciation (Depreciation) ---------- ------------ ------------ -------------- Tax-Managed U.S. Marketwide Value Portfolio... $1,984,867 $1,678,555 $ (43) $1,678,512 Tax-Managed U.S. Equity Portfolio............. 1,302,485 1,225,472 (17,184) 1,208,288 Tax-Managed U.S. Targeted Value Portfolio..... 2,703,512 1,619,846 (113,006) 1,506,840 Tax-Managed U.S. Small Cap Portfolio.......... 1,649,297 981,948 (32,085) 949,863 T.A. U.S. Core Equity 2 Portfolio............. 3,587,704 2,090,001 (43,946) 2,046,055 Tax-Managed DFA International Value Portfolio. 2,753,650 437,179 (220,096) 217,083 T.A. World ex U.S. Core Equity Portfolio...... 1,713,495 472,576 (160,830) 311,746 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. 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 Portfolio's federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service. 54 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. 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. 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. 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 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 location on the Portfolios' Statements of Operations of realized gains and losses from the Portfolios' derivative instrument holdings through the year ended October 31, 2014: Derivative Type Location of Gain (Loss) on Derivatives Recognized in Income --------------- ----------------------------------------------------------- Foreign exchange contracts Net Realized Gain (Loss) on: Foreign Currency Transactions Equity contracts Net Realized Gain (Loss) on: Futures The following is a summary of the realized gains and losses from the Portfolios' derivative instrument holdings categorized by primary risk exposure through the year ended October 31, 2014 (amounts in thousands): Realized Gain (Loss) on Derivatives Recognized in Income ------------------------------- Foreign Exchange Equity Total Contracts Contracts ----- --------- --------- Tax-Managed U.S. Targeted Value Portfolio*. $(690) -- $(690) T.A. World ex U.S. Core Equity Portfolio*.. 1 $ 1 -- * As of October 31, 2014, there were no futures or forward currency contracts outstanding. During the year ended October 31, 2014, the Portfolios had limited activity in futures and forward currency contracts. 55 H. 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 agreement for the line of credit expires on March 2, 2015. The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit 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 line of credit agreement expires on January 9, 2015. For the year ended October 31, 2014, 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% $9,080 6 $ 1 $10,784 Tax-Managed U.S. Targeted Value Portfolio........................ 0.85% 6,533 3 -- 6,533 T.A. U.S. Core Equity 2 Portfolio........ 0.85% 4,430 9 1 8,261 Tax-Managed DFA International Value Portfolio........................ 0.84% 5,025 27 3 15,261 T.A. World ex U.S. Core Equity Portfolio. 0.84% 9,950 20 5 14,463 * Number of Days Outstanding represents the total of single or consecutive days during the year ended October 31, 2014, 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, 2014. I. Securities Lending: As of October 31, 2014, 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 ------- Tax-Managed U.S. Equity Portfolio............. $ 6,656 Tax-Managed U.S. Targeted Value Portfolio..... 12,079 Tax-Managed U.S. Small Cap Portfolio.......... 415 T.A. U.S. Core Equity 2 Portfolio............. 26,713 Tax-Managed DFA International Value Portfolio. 672 T.A. World ex U.S. Core Equity Portfolio...... 16,104 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 56 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. In the event of the bankruptcy of the borrower, a Portfolio could experience delay in recovering the loaned securities or only recover cash or a security of equivalent value. 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. Other: At October 31, 2014, 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 91% Tax-Managed U.S. Equity Portfolio............. 3 86% Tax-Managed U.S. Targeted Value Portfolio..... 3 96% Tax-Managed U.S. Small Cap Portfolio.......... 3 93% T.A. U.S. Core Equity 2 Portfolio............. 3 92% Tax-Managed DFA International Value Portfolio. 3 93% T.A. World ex U.S. Core Equity Portfolio...... 3 90% On December 13, 2013, the Board of the Fund voted to approve the combination of the Investment Advisory Agreement and the Administration Agreement (together, the "Previous Agreements") into a bundled Investment Management Agreement for the Tax-Managed U.S. Equity Portfolio. The Investment Management Agreement became effective on February 28, 2014. The nature and level of services to the Portfolio under the Investment Management Agreement are the same as under the Previous Agreements. As of February 28, 2014, the Portfolio 57 pays the Advisor an investment management fee that is equal to the sum of the previous investment advisory and administration fees that were paid by the Portfolio to the Advisor under the Previous Agreements. 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, described below, 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 Tax-Managed U.S. Marketwide 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 Tax-Managed U.S. Marketwide 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. Oral argument on the appeal was held on November 5, 2014, and the parties await the Second Circuit's ruling. The Committee Action remains pending, and a motion to dismiss on behalf of all shareholder defendants in the Committee Action was filed on May 23, 2014. The motion to dismiss is fully-briefed, and the parties await the scheduling of oral argument on the motion. The Committee Action is stayed pending the disposition of the motion to dismiss. Litigation counsel to The Tax-Managed U.S. Marketwide Value Series in the Lawsuits has advised management that it 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 Tax-Managed U.S. Marketwide Value Series arising from the Lawsuits. Until The Tax-Managed U.S. Marketwide Value Series can do so, no reduction of the net asset value of The Tax-Managed U.S. Marketwide 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 Tax-Managed U.S. Marketwide Value Series' net asset value at this time. The Tax-Managed U.S. Marketwide Value Series also cannot quantify the cost of the Lawsuits that could potentially be deducted from its net asset value. Therefore, at this time, those investors buying or redeeming shares of The Tax-Managed U.S. Marketwide Value Series will pay or receive, as the case may be, a price based on the net asset value of The Tax-Managed U.S. Marketwide 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 Tax-Managed U.S. Marketwide Value Series as incurred and in a manner similar to any other expense incurred by The Tax-Managed U.S. Marketwide Value Series. L. 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. 58 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors of DFA Investment Dimensions Group Inc. and Shareholders of the Portfolios, as defined: 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, 2014, 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, 2014 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 19, 2014 59 THE DFA INVESTMENT TRUST COMPANY PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- THE TAX-MANAGED U.S. MARKETWIDE VALUE SERIES VS. RUSSELL 3000(R) VALUE INDEX October 31, 2004-October 31, 2014 [CHART] The Tax-Managed U.S. Marketwide Russell 3000(R) Value Series Value Index --------------------------- ------------------- 10/31/2004 10,000 10,000 11/30/2004 10,670 10,538 12/31/2004 11,017 10,882 1/31/2005 10,783 10,668 2/28/2005 11,197 11,010 3/31/2005 11,084 10,852 4/30/2005 10,678 10,628 5/31/2005 11,145 10,915 6/30/2005 11,423 11,066 7/31/2005 12,041 11,413 8/31/2005 12,026 11,344 9/30/2005 12,244 11,488 10/31/2005 11,950 11,196 11/30/2005 12,425 11,570 12/31/2005 12,485 11,625 1/31/2006 13,178 12,121 2/28/2006 13,148 12,189 3/31/2006 13,456 12,392 4/30/2006 13,795 12,680 5/31/2006 13,404 12,342 6/30/2006 13,494 12,427 7/31/2006 13,411 12,685 8/31/2006 13,479 12,912 9/30/2006 13,742 13,158 10/31/2006 14,270 13,610 11/30/2006 14,623 13,928 12/31/2006 14,902 14,223 1/31/2007 15,294 14,407 2/28/2007 15,098 14,187 3/31/2007 15,271 14,402 4/30/2007 15,813 14,900 5/31/2007 16,559 15,438 6/30/2007 16,205 15,077 7/31/2007 15,324 14,330 8/31/2007 15,241 14,501 9/30/2007 15,625 14,964 10/31/2007 15,640 14,978 11/30/2007 14,721 14,215 12/31/2007 14,661 14,079 1/31/2008 14,081 13,514 2/29/2008 13,569 12,950 3/31/2008 13,321 12,875 4/30/2008 14,074 13,485 5/31/2008 14,390 13,501 6/30/2008 12,801 12,209 7/31/2008 12,703 12,217 8/31/2008 12,959 12,455 9/30/2008 11,860 11,567 10/31/2008 9,209 9,538 11/30/2008 8,298 8,820 12/31/2008 8,577 8,975 1/31/2009 7,462 7,923 2/28/2009 6,461 6,861 3/31/2009 7,139 7,449 4/30/2009 8,373 8,279 5/31/2009 9,006 8,763 6/30/2009 8,878 8,701 7/31/2009 9,789 9,436 8/31/2009 10,437 9,926 9/30/2009 10,904 10,319 10/31/2009 10,384 9,973 11/30/2009 10,866 10,516 12/31/2009 11,265 10,749 1/31/2010 10,949 10,445 2/28/2010 11,453 10,788 3/31/2010 12,357 11,506 4/30/2010 12,839 11,847 5/31/2010 11,739 10,870 6/30/2010 10,843 10,230 7/31/2010 11,709 10,926 8/31/2010 10,941 10,430 9/30/2010 12,033 11,263 10/31/2010 12,500 11,609 11/30/2010 12,530 11,576 12/31/2010 13,712 12,493 1/31/2011 14,051 12,753 2/28/2011 14,842 13,238 3/31/2011 14,940 13,301 4/30/2011 15,294 13,644 5/31/2011 15,053 13,491 6/30/2011 14,789 13,210 7/31/2011 14,164 12,772 8/31/2011 12,982 11,948 9/30/2011 11,664 11,013 10/31/2011 13,291 12,299 11/30/2011 13,185 12,238 12/31/2011 13,321 12,480 1/31/2012 14,014 12,981 2/29/2012 14,752 13,472 3/31/2012 15,068 13,873 4/30/2012 14,789 13,727 5/31/2012 13,750 12,919 6/30/2012 14,473 13,559 7/31/2012 14,601 13,678 8/31/2012 15,151 13,984 9/30/2012 15,693 14,432 10/31/2012 15,745 14,353 11/30/2012 15,843 14,351 12/31/2012 16,303 14,670 1/31/2013 17,380 15,618 2/28/2013 17,651 15,839 3/31/2013 18,524 16,468 4/30/2013 18,652 16,697 5/31/2013 19,262 17,131 6/30/2013 19,149 16,986 7/31/2013 20,316 17,917 8/31/2013 19,714 17,228 9/30/2013 20,437 17,704 10/31/2013 21,401 18,463 11/30/2013 22,289 18,995 12/31/2013 22,907 19,466 1/31/2014 22,003 18,770 2/28/2014 22,809 19,585 3/31/2014 23,148 20,035 4/30/2014 23,200 20,168 5/31/2014 23,750 20,451 6/30/2014 24,360 21,014 7/31/2014 23,983 20,582 Past performance is not predictive of 8/31/2014 24,864 21,349 future performance. 9/30/2014 24,232 20,831 The returns shown do not reflect the 10/31/2014 24,646 21,373 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 Russell data copyright (C) Russell -------------------------------------------------------- Investment Group 1995-2014, all rights 15.17% 18.87% 9.44% reserved. -------------------------------------------------------------------------------- 60 THE DFA INVESTMENT TRUST COMPANY MANAGEMENT'S DISCUSSION AND ANALYSIS (Unaudited) U.S. Equity Market Review 12 Months Ended October 31, 2014 U.S. equities had strong gains during the period. The broad U.S. equity market, as measured by the Russell 3000(R) Index, had positive returns in 9 of the 12 months. As measured by the Russell indices, large cap stocks outperformed small cap stocks. Total Return for 12 Months Ended October 31, 2014 ------------------------------------------------- Russell 3000(R) Index........................ 16.07% Russell Microcap(R) Index (micro cap stocks). 7.34% Russell 2000(R) Index (small cap stocks)..... 8.06% Russell 1000(R) Index (large cap stocks)..... 16.78% Dow Jones U.S. Select REIT Index /SM/........ 20.69% Growth stocks slightly outperformed value stocks as measured by the Russell indices. Total Return for 12 Months Ended October 31, 2014 ------------------------------------------------- Russell 2000(R) Value Index (small cap value stocks)... 7.89% Russell 2000(R) Growth Index (small cap growth stocks). 8.26% Russell 1000(R) Value Index (large cap value stocks)... 16.46% Russell 1000(R) Growth Index (large cap growth stocks). 17.11% ---------- Source: Russell data copyright (C) Russell Investment Group 1995-2014, 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 period 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 Tax-Managed U.S. Marketwide Value Series The Tax-Managed U.S. Marketwide Value Series invests in a broadly diversified group 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, 2014, the Series held approximately 1,150 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, 2014, total returns were 15.17% for the Series and 15.76% for the Russell 3000(R) Value Index. As a result of the Series' diversified investment approach, performance was determined principally by broad trends in the U.S. equity market rather than the behavior of a limited number of stocks. Lower book to market stocks outperformed higher book to market stocks within the index. The Tax-Managed U.S. Marketwide Value Series had less weight than the index in lower book to market stocks, which detracted from relative performance. The Series excludes real estate investment trusts (REITs) and highly regulated utilities from eligibility while the Index holds stocks in these sectors. REITs and utilities generally outperformed other sectors during the period, which detracted from the Series' relative performance. 61 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, 2014 EXPENSE TABLES Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- The Tax-Managed U.S. Marketwide Value Series -------------------------------------------- Actual Fund Return........................... $1,000.00 $1,062.30 0.21% $1.09 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. 62 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 29, 2014. 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 EQUITY PORTFOLIO The Tax-Managed U.S. Marketwide Value Series Consumer Discretionary....................... 18.0% Consumer Staples............................. 7.2% Energy....................................... 16.1% Financials................................... 19.3% Health Care.................................. 10.2% Industrials.................................. 14.4% Information Technology....................... 7.1% Materials.................................... 3.2% Other........................................ -- Telecommunication Services................... 4.2% Utilities.................................... 0.3% ----- 100.0% 63 THE TAX-MANAGED U.S. MARKETWIDE VALUE SERIES SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value+ of Net Assets** --------- ------------ --------------- COMMON STOCKS -- (96.4%) Consumer Discretionary -- (17.3%) Comcast Corp. Class A.................. 3,446,875 $190,784,531 3.7% Comcast Corp. Special Class A.......... 1,088,341 60,011,123 1.2% General Motors Co...................... 751,200 23,587,680 0.5% * Liberty Interactive Corp. Class A...... 882,463 23,067,583 0.5% Time Warner Cable, Inc................. 693,942 102,155,202 2.0% Time Warner, Inc....................... 1,534,860 121,975,324 2.4% Twenty-First Century Fox, Inc. Class A. 1,287,383 44,388,966 0.9% Other Securities....................... 354,467,982 6.7% ------------ ----- Total Consumer Discretionary............... 920,438,391 17.9% ------------ ----- Consumer Staples -- (7.0%) Archer-Daniels-Midland Co.............. 813,476 38,233,372 0.8% * Constellation Brands, Inc. Class A..... 249,042 22,797,305 0.5% CVS Health Corp........................ 1,510,745 129,637,028 2.5% Mondelez International, Inc. Class A... 2,081,099 73,379,551 1.4% Other Securities....................... 106,508,573 2.0% ------------ ----- Total Consumer Staples..................... 370,555,829 7.2% ------------ ----- Energy -- (15.5%) Anadarko Petroleum Corp................ 845,068 77,560,341 1.5% Chevron Corp........................... 1,026,536 123,132,993 2.4% ConocoPhillips......................... 1,766,829 127,476,712 2.5% Exxon Mobil Corp....................... 719,910 69,622,496 1.4% Hess Corp.............................. 378,130 32,069,205 0.6% Marathon Oil Corp...................... 903,937 31,999,370 0.6% Marathon Petroleum Corp................ 451,968 41,083,891 0.8% Phillips 66............................ 883,414 69,347,999 1.4% Valero Energy Corp..................... 605,899 30,349,481 0.6% Other Securities....................... 219,822,492 4.2% ------------ ----- Total Energy............................... 822,464,980 16.0% ------------ ----- Financials -- (18.6%) American International Group, Inc...... 899,581 48,190,554 1.0% Bank of America Corp................... 6,542,656 112,271,977 2.2% Capital One Financial Corp............. 356,632 29,518,431 0.6% Citigroup, Inc......................... 2,248,344 120,353,854 2.4% CME Group, Inc......................... 414,385 34,729,607 0.7% Goldman Sachs Group, Inc. (The)........ 154,508 29,354,975 0.6% JPMorgan Chase & Co.................... 1,785,675 107,997,624 2.1% MetLife, Inc........................... 1,125,923 61,070,064 1.2% Morgan Stanley......................... 1,476,248 51,594,868 1.0% Prudential Financial, Inc.............. 497,625 44,059,717 0.9% Other Securities....................... 350,805,532 6.5% ------------ ----- Total Financials........................... 989,947,203 19.2% ------------ ----- Health Care -- (9.9%) Aetna, Inc............................. 558,462 46,078,700 0.9% * Express Scripts Holding Co............. 493,239 37,890,620 0.8% Humana, Inc............................ 236,814 32,881,624 0.7% Pfizer, Inc............................ 4,178,729 125,152,934 2.4% Thermo Fisher Scientific, Inc.......... 499,520 58,728,566 1.2% # WellPoint, Inc......................... 504,640 63,932,842 1.3% Zoetis, Inc............................ 805,208 29,921,529 0.6% 64 THE TAX-MANAGED U.S. MARKETWIDE VALUE SERIES CONTINUED Percentage Shares Value+ of Net Assets** ---------- -------------- --------------- Health Care -- (Continued) Other Securities................................... $ 130,278,997 2.3% -------------- ------ Total Health Care........................................ 524,865,812 10.2% -------------- ------ Industrials -- (13.9%) CSX Corp........................................... 1,242,950 44,286,308 0.9% FedEx Corp......................................... 142,324 23,825,038 0.5% General Electric Co................................ 5,207,993 134,418,299 2.6% Norfolk Southern Corp.............................. 545,229 60,324,137 1.2% Northrop Grumman Corp.............................. 337,038 46,497,762 0.9% Union Pacific Corp................................. 888,128 103,422,506 2.0% Other Securities................................... 326,691,336 6.3% -------------- ------ Total Industrials........................................ 739,465,386 14.4% -------------- ------ Information Technology -- (6.9%) Corning, Inc....................................... 1,201,485 24,546,339 0.5% Hewlett-Packard Co................................. 759,615 27,254,986 0.5% * Micron Technology, Inc............................. 758,908 25,112,266 0.5% * Yahoo!, Inc........................................ 1,048,770 48,295,858 1.0% Other Securities................................... 240,376,067 4.6% -------------- ------ Total Information Technology............................. 365,585,516 7.1% -------------- ------ Materials -- (3.0%) International Paper Co............................. 493,615 24,986,791 0.5% Other Securities................................... 137,737,875 2.7% -------------- ------ Total Materials.......................................... 162,724,666 3.2% -------------- ------ Other -- (0.0%) Other Securities................................... -- 0.0% -------------- ------ Telecommunication Services -- (4.0%) # AT&T, Inc.......................................... 4,073,875 141,933,805 2.8% Verizon Communications, Inc........................ 644,888 32,405,622 0.6% Other Securities................................... 40,703,493 0.8% -------------- ------ Total Telecommunication Services......................... 215,042,920 4.2% -------------- ------ Utilities -- (0.3%) Other Securities................................... 16,312,159 0.3% -------------- ------ TOTAL COMMON STOCKS...................................... 5,127,402,862 99.7% -------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 21,755 0.0% -------------- ------ TEMPORARY CASH INVESTMENTS -- (0.4%) State Street Institutional Liquid Reserves, 0.077%. 20,061,382 20,061,382 0.4% -------------- ------ SECURITIES LENDING COLLATERAL -- (3.2%) (S)@ DFA Short Term Investment Fund..................... 14,553,369 168,382,482 3.2% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $2,951,388,341)................................... $5,315,868,481 103.3% ============== ====== 65 THE TAX-MANAGED U.S. MARKETWIDE VALUE SERIES CONTINUED Summary of the Series' investments as of October 31, 2014, 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...... $ 920,438,391 -- -- $ 920,438,391 Consumer Staples............ 370,555,829 -- -- 370,555,829 Energy...................... 822,464,980 -- -- 822,464,980 Financials.................. 989,919,534 $ 27,669 -- 989,947,203 Health Care................. 524,865,812 -- -- 524,865,812 Industrials................. 739,465,174 212 -- 739,465,386 Information Technology...... 365,585,516 -- -- 365,585,516 Materials................... 162,724,666 -- -- 162,724,666 Other....................... -- -- -- -- Telecommunication Services.. 215,042,920 -- -- 215,042,920 Utilities................... 16,312,159 -- -- 16,312,159 Rights/Warrants............... -- 21,755 -- 21,755 Temporary Cash Investments.... 20,061,382 -- -- 20,061,382 Securities Lending Collateral. -- 168,382,482 -- 168,382,482 -------------- ------------ -- -------------- TOTAL......................... $5,147,436,363 $168,432,118 -- $5,315,868,481 ============== ============ == ============== See accompanying Notes to Financial Statements. 66 THE DFA INVESTMENT TRUST COMPANY THE TAX-MANAGED U.S. MARKETWIDE VALUE SERIES STATEMENT OF ASSETS AND LIABILITIES OCTOBER 31, 2014 (Amounts in thousands) ASSETS: Investments at Value (including $280,786 of securities on loan)*......... $5,127,425 Temporary Cash Investments at Value & Cost............................... 20,061 Collateral from Securities on Loan Invested in Affiliate at Value & Cost. 168,382 Cash..................................................................... 3,639 Receivables: Investment Securities Sold............................................. 457 Dividends, Interest and Tax Reclaims................................... 5,035 Securities Lending Income.............................................. 67 ---------- Total Assets........................................................ 5,325,066 ---------- LIABILITIES: Payables: Upon Return of Securities Loaned....................................... 168,382 Investment Securities Purchased........................................ 11,679 Due to Advisor......................................................... 833 Accrued Expenses and Other Liabilities................................... 195 Total Liabilities................................................... 181,089 ---------- NET ASSETS............................................................... $5,143,977 ========== Investments at Cost...................................................... $2,762,944 ========== ---------- * See Note G in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 67 THE DFA INVESTMENT TRUST COMPANY THE TAX-MANAGED U.S. MARKETWIDE VALUE SERIES STATEMENT OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2014 (Amounts in thousands) Investment Income Dividends (Net of Foreign Taxes Withheld of $8)............... $ 86,754 Interest...................................................... 7 Income from Securities Lending................................ 840 -------- Total Investment Income.................................... 87,601 -------- Expenses Investment Advisory Services Fees............................. 9,619 Accounting & Transfer Agent Fees.............................. 242 Custodian Fees................................................ 54 Shareholders' Reports......................................... 20 Directors'/Trustees' Fees & Expenses.......................... 34 Professional Fees............................................. 99 Other......................................................... 22 -------- Total Expenses............................................. 10,090 -------- Net Expenses.................................................. 10,090 -------- Net Investment Income (Loss).................................. 77,511 -------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold.................................. 18,712 Change in Unrealized Appreciation (Depreciation) of: Investment Securities....................................... 573,756 -------- Net Realized and Unrealized Gain (Loss)....................... 592,468 -------- Net Increase (Decrease) in Net Assets Resulting from Operations. $669,979 ======== See accompanying Notes to Financial Statements. 68 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, 2014 2013 - ---------- ---------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss).......................................... $ 77,511 $ 69,562 Net Realized Gain (Loss) on: Investment Securities Sold.......................................... 18,712 39,747 Change in Unrealized Appreciation (Depreciation) of: Investment Securities............................................... 573,756 1,056,586 ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations.... 669,979 1,165,895 ---------- ---------- Transactions in Interest: Contributions......................................................... 209,662 285,068 Withdrawals........................................................... (125,419) (367,684) ---------- ---------- Net Increase (Decrease) from Transactions in Interest.............. 84,243 (82,616) ---------- ---------- Total Increase (Decrease) in Net Assets............................ 754,222 1,083,279 Net Assets Beginning of Year..................................................... 4,389,755 3,306,476 ---------- ---------- End of Year........................................................... $5,143,977 $4,389,755 ========== ========== See accompanying Notes to Financial Statements. 69 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, 2014 2013 2012 2011 2010 ----------------------------------------------------------------------------------------------------------------- Total Return......................................... 15.17% 35.92% 18.47% 6.33% 20.38% ----------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).................. $5,143,977 $4,389,755 $3,306,476 $2,901,325 $2,670,673 Ratio of Expenses to Average Net Assets.............. 0.21% 0.21% 0.22% 0.22% 0.22% Ratio of Net Investment Income to Average Net Assets. 1.61% 1.82% 1.99% 1.61% 1.40% Portfolio Turnover Rate.............................. 2% 5% 10% 20% 25% ----------------------------------------------------------------------------------------------------------------- See accompanying Notes to Financial Statements. 70 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 ask prices which approximates 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. 71 For the year ended October 31, 2014, there were no significant transfers between Level 1 and Level 2 and no significant 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, 2014, 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 $120 (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, 2014, 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, 2014, 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, 2014, the total related amounts paid to the CCO by the Trust were $83 (in thousands). The total related amounts paid by the Series is included in Other Expenses on the Statement of Operations. 72 D. Purchases and Sales of Securities: For the year ended October 31, 2014, 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. $260,060 $71,982 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, 2014, 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, as follows (amounts in thousands): Net Unrealized Federal Unrealized Unrealized Appreciation Tax Cost Appreciation Depreciation (Depreciation) ---------- ------------ ------------ -------------- The Tax-Managed U.S. Marketwide Value Series. $2,951,992 $2,397,559 $(33,683) $2,363,876 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. 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 agreement for the line of credit expires on March 2, 2015. The Trust, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit 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 line of credit agreement expires on January 9, 2015. There were no borrowings by the Series under the lines of credit during the year ended October 31, 2014. 73 G. Securities Lending: As of October 31, 2014, the Series had securities on loan to brokers/dealers, for which the Series received cash collateral. In addition, the Series received non-cash collateral consisting of short and/or long term U.S. Treasury securities with a market value of $114,381 (in thousands). 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. In the event of the bankruptcy of the borrower, a Portfolio could experience delay in recovering the loaned securities or only recover cash or a security of equivalent value. 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 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. H. 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. I. 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, described below, 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 Tax-Managed U.S. Marketwide 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 Tax- 74 Managed U.S. Marketwide 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. Oral argument on the appeal was held on November 5, 2014, and the parties await the Second Circuit's ruling. The Committee Action remains pending, and a motion to dismiss on behalf of all shareholder defendants in the Committee Action was filed on May 23, 2014. The motion to dismiss is fully-briefed, and the parties await the scheduling of oral argument on the motion. The Committee Action is stayed pending the disposition of the motion to dismiss. Litigation counsel to The Tax-Managed U.S. Marketwide Value Series in the Lawsuits has advised management that it 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 Tax-Managed U.S. Marketwide Value Series arising from the Lawsuits. Until The Tax-Managed U.S. Marketwide Value Series can do so, no reduction of the net asset value of The Tax-Managed U.S. Marketwide 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 Tax-Managed U.S. Marketwide Value Series' net asset value at this time. The Tax-Managed U.S. Marketwide Value Series also cannot quantify the cost of the Lawsuits that could potentially be deducted from its net asset value. Therefore, at this time, those investors buying or redeeming shares of The Tax-Managed U.S. Marketwide Value Series will pay or receive, as the case may be, a price based on the net asset value of The Tax-Managed U.S. Marketwide 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 Tax-Managed U.S. Marketwide Value Series as incurred and in a manner similar to any other expense incurred by The Tax-Managed U.S. Marketwide Value Series. J. 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. 75 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Trustees of The DFA Investment Trust Company and Shareholders of The Tax-Managed U.S. Marketwide Value Series: 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, 2014, 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 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, 2014 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 19, 2014 76 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 Strategy Committee (the "Strategy 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, 2014. 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, 2014. Each Board's Strategy Committee consists of both interested and disinterested Trustees/Directors. The Strategy Committee is comprised of John P. Gould, Edward P. Lazear, Myron S. Scholes and Eduardo A. Repetto. The Strategy 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 Strategy 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 Strategy Committee was formed on December 17, 2010, and there were two Strategy Committee meetings held during the fiscal year ended October 31, 2014. 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. 77 Name, Position Portfolios within the DFA Principal Occupation(s) During Past 5 with the Fund, Address and Term of Office/1/ and Fund Complex/2/ Years and Other Directorships of Public Year of Birth Length of Service Overseen Companies Held ------------------------------------------------------------------------------------------------------------------------ Disinterested Trustees/Directors ------------------------------------------------------------------------------------------------------------------------ George M. Constantinides DFAIDG-Since 1983 108 portfolios in 4 Leo Melamed Professor of Finance, Director of DFAIDG and DIG. DIG-Since 1993 investment companies University of Chicago Booth School of Trustee of DFAITC and DEM. DFAITC-Since 1992 Business. The University of Chicago DEM-Since 1993 Booth School of Business 5807 S. Woodlawn Avenue Chicago, IL 60637 1947 ------------------------------------------------------------------------------------------------------------------------ John P. Gould DFAIDG-Since 1986 108 portfolios in 4 Steven G. Rothmeier Professor and Director of DFAIDG and DIG. DIG-Since 1993 investment companies Distinguished Service Professor of Trustee of DFAITC and DEM DFAITC-Since 1992 Economics, University of Chicago Booth The University of Chicago DEM-Since 1993 School of Business (since 1965). Member Booth School of Business and Chair, Competitive Markets Advisory 5807 S. Woodlawn Avenue Council, Chicago Mercantile Exchange Chicago, IL 60637 (futures trading exchange) (since 1939 2004). Trustee, Harbor Fund (registered investment company) (29 Portfolios) (since 1994). Formerly, Member of the Board of Milwaukee Insurance Company (1997-2010). ------------------------------------------------------------------------------------------------------------------------ Roger G. Ibbotson DFAIDG-Since 1981 108 portfolios in 4 Professor in Practice of Finance, Yale Director of DFAIDG and DIG. DIG-Since 1993 investment companies School of Management (since 1984). Trustee of DFAITC and DEM. DFAITC-Since 1992 Chairman, CIO and Partner, Zebra Yale School of Management DEM-Since 1993 Capital Management, LLC (hedge fund and P.O. Box 208200 asset manager) (since 2001). Consultant New Haven, CT 06520-8200 to Morningstar Inc. (since 2006). 1943 Formerly, Director, BIRR Portfolio Analysis, Inc. (software products) (1990-2010). ------------------------------------------------------------------------------------------------------------------------ Edward P. Lazear DFAIDG-Since 2010 108 portfolios in 4 Morris Arnold Cox Senior Fellow, Hoover Director of DFAIDG and DIG. DIG-Since 2010 investment companies Institution (since 2002). Jack Steele Trustee of DFAITC and DEM. DFAITC-Since 2010 Parker Professor of Human Resources Stanford University Graduate DEM-Since 2010 Management and Economics, Graduate School of Business School of Business, Stanford University 518 Memorial Way (since 1995). Cornerstone Research Stanford, CA 94305-5015 (expert testimony and economic and 1948 financial analysis) (since 2009). Formerly, 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 DFAIDG-Since 1981 108 portfolios in 4 Chief Investment Strategist, Janus Director of DFAIDG and DIG. DIG-Since 1993 investment companies Capital Group Inc. (since 2014). Frank Trustee of DFAITC and DEM. DFAITC-Since 1992 E. Buck Professor of Finance Emeritus, c/o Dimensional Fund DEM-Since 1993 Graduate School of Business, Stanford Advisors, LP University (since 1981). Chairman, 6300 Bee Cave Road Ruapay Inc. (since 2013). Formerly, Building 1 Chairman, Platinum Grove Asset Austin, TX 78746 Management, L.P. (hedge fund) 1941 (formerly, Oak Hill Platinum Partners) (1999-2009). Formerly, Director, American Century Fund Complex (registered investment companies) (43 Portfolios) (1980-2014). ------------------------------------------------------------------------------------------------------------------------ Abbie J. Smith DFAIDG-Since 2000 108 portfolios in 4 Boris and Irene Stern Distinguished Director of DFAIDG and DIG. DIG-Since 2000 investment companies Service Professor of Accounting, Trustee of DFAITC and DEM. DFAITC-Since 2000 University of Chicago Booth School of The University of Chicago DEM-Since 2000 Business (since 1980). Director, HNI Booth School of Business Corporation (formerly known as HON 5807 S. Woodlawn Industries Inc.) (office furniture) Avenue Chicago, IL 60637 (since 2000). Director, Ryder System 1953 Inc. (transportation, logistics and supply-chain management) (since 2003). Trustee, UBS Funds (4 investment companies within the fund complex) (33 portfolios) (since 2009). Formerly, Co-Director Investment Research, Fundamental Investment Advisors (hedge fund) (2008-2011). ------------------------------------------------------------------------------------------------------------------------ 78 Name, Position Portfolios within the with the Fund, Address Term of Office/1/ and DFA Fund Complex/2/ Principal Occupation(s) During Past 5 Years and and Year of Birth Length of Service Overseen Other Directorships of Public Companies Held -------------------------------------------------------------------------------------------------------------------------------- Interested Trustees/Directors* -------------------------------------------------------------------------------------------------------------------------------- David G. Booth DFAIDG-Since 1981 108 portfolios in 4 Chairman, Director/Trustee, President, Co-Chief Chairman, Director/Trustee, DIG-Since 1992 investment companies Executive Officer and formerly, Chief Executive President and Co-Chief DFAITC-Since 1992 Officer (until 1/1/2010) of the following companies: Executive Officer DEM-Since 1993 Dimensional Holdings Inc., Dimensional Fund 6300 Bee Cave Road, Advisors LP, DFA Securities LLC, DEM, DFAIDG, Building One DIG and DFAITC (collectively, the "DFA Entities"). Austin, TX 78746 Director of Dimensional Fund Advisors Ltd. and 1946 formerly, Chief Investment Officer. Director of DFA Australia Limited and formerly, President and Chief Investment Officer. Director of Dimensional Advisors Ltd., Dimensional Funds plc and Dimensional Funds II plc. Formerly, President, Dimensional SmartNest (US) LLC (2009-2014). Formerly, Limited Partner, Oak Hill Partners (2001- 2010). Limited Partner, VSC Investors, LLC (since 2007). Trustee, University of Chicago. Trustee, University of Kansas Endowment Association. Formerly, Director, SA Funds (registered investment company). Chairman, Director and Co- Chief Executive Officer of Dimensional Fund Advisors Canada ULC. Director and President (since 2012) of Dimensional Japan Ltd. Chairman, Director, President and Co-Chief Executive Officer of Dimensional Cayman Commodity Fund I Ltd. (since 2010). -------------------------------------------------------------------------------------------------------------------------------- Eduardo A. Repetto DFAIDG-Since 2009 108 portfolios in 4 Co-Chief Executive Officer (beginning January Director/Trustee, Co-Chief DIG-Since 2009 investment companies 2010), Co-Chief Investment Officer (since June Executive Officer and Co- DFAITC-Since 2009 2014), Director/Trustee, and formerly, Chief Chief Investment Officer DEM-Since 2009 Investment Officer (March 2007 - June 2014) of the 6300 Bee Cave Road, DFA Entities. Director, Co-Chief Executive Officer Building One and Chief Investment Officer (since 2010) of Austin, TX 78746 Dimensional Cayman Commodity Fund I Ltd. 1967 Director, Co-Chief Executive Officer, President and Co-Chief Investment Officer of Dimensional Fund Advisors Canada ULC and formerly, Chief Investment Officer (until April 2014). Co-Chief Investment Officer, Vice President, and Director of DFA Australia Limited and formerly, Chief Investment Officer (until April 2014). Director of Dimensional Fund Advisors Ltd., Dimensional Funds plc, Dimensional Funds II plc and Dimensional Advisors Ltd. Formerly, Vice President of the DFA Entities and Dimensional Fund Advisors Canada ULC. Director and Chief Investment Officer (since December 2012) of Dimensional Japan Ltd. /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 DFAIDG, DIG; DFAITC and DEM. Each disinterested Trustee/Director also serves on the Independent Review Committee of the Dimensional Funds, mutual funds registered in the provinces of Canada and managed by an affiliate of Dimensional Fund Advisors LP (the "Advisor"), Dimensional Fund Advisors Canada ULC. * 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 the Advisor. 79 Officers Below is the name, year of birth, information regarding positions with the Funds and the principal occupation for each officer of the Funds. The address of each officer is 6300 Bee Cave Road, Building One, Austin, TX 78746. Each of the officers listed below holds the same office (except as otherwise noted) in the DFA Entities. Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation(s) During Past 5 Years ---------------------------------------------------------------------------------------------------------------------- Officers ---------------------------------------------------------------------------------------------------------------------- April A. Aandal Vice President Since 2008 Vice President of all the DFA Entities. 1963 ---------------------------------------------------------------------------------------------------------------------- Robyn G. Alcorta Vice President Since 2012 Vice President of all the DFA Entities. Formerly, Vice 1974 President, Business Development at Capson Physicians Insurance Company (2010-2012); Vice President at Charles Schwab (2007-2010). ---------------------------------------------------------------------------------------------------------------------- Darryl D. Avery Vice President Since 2005 Vice President of all the DFA Entities. 1966 ---------------------------------------------------------------------------------------------------------------------- Arthur H. Barlow Vice President Since 1993 Vice President of all the DFA Entities. Director and 1955 Managing Director of Dimensional Fund Advisors Ltd (since September 2013). ---------------------------------------------------------------------------------------------------------------------- Peter Bergan Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Senior Infrastructure Manager for Dimensional Fund Advisors LP (January 2011-January 2014); Partner at Stonehouse Consulting (2010). ---------------------------------------------------------------------------------------------------------------------- Lana Bergstein Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Client Service Manager for Dimensional Fund Advisors LP (February 2008-January 2014). ---------------------------------------------------------------------------------------------------------------------- Stanley W. Black Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1970 Senior Research Associate (January 2012-January 2014) and Research Associate (2006-2011) for Dimensional Fund Advisors LP ---------------------------------------------------------------------------------------------------------------------- Aaron T. Borders Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1973 Regional Director for Dimensional Fund Advisors LP (April 2008-January 2014). ---------------------------------------------------------------------------------------------------------------------- Scott A. Bosworth Vice President Since 2007 Vice President of all the DFA Entities. 1968 ---------------------------------------------------------------------------------------------------------------------- Valerie A. Brown Vice President and Since 2001 Vice President and Assistant Secretary of all the 1967 Assistant Secretary DFA Entities, DFA Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Cayman Commodity Fund I Ltd., Dimensional Fund Advisors Pte. and Dimensional Hong Kong Limited. Director, Vice President and Assistant Secretary of Dimensional Fund Advisors Canada ULC. ---------------------------------------------------------------------------------------------------------------------- David P. Butler Vice President Since 2007 Vice President of all the DFA Entities. Head of 1964 Global Financial Services for Dimensional Fund Advisors LP (since 2008). ---------------------------------------------------------------------------------------------------------------------- Douglas M. Byrkit Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1970 Regional Director for Dimensional Fund Advisors LP (December 2010-January 2012); Regional Director at Russell Investments (April 2006-December 2010). ---------------------------------------------------------------------------------------------------------------------- Hunt M. Cairns Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1973 Regional Director (January 2010-January 2014) and Senior Associate (July 2008-December 2009) for Dimensional Fund Advisors LP. ---------------------------------------------------------------------------------------------------------------------- James G. Charles Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1956 Regional Director for Dimensional Fund Advisors LP (2008-2010). ---------------------------------------------------------------------------------------------------------------------- 80 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------------- Joseph H. Chi Vice President Since 2009 Vice President of all the DFA Entities. Co-Head of 1966 Portfolio Management (since March 2012) and Senior Portfolio Manager (since January 2012) for Dimensional Fund Advisors LP. Formerly, Portfolio Manager for Dimensional Fund Advisors LP (October 2005 to January 2012). ------------------------------------------------------------------------------------------------------------------------- Pil Sun Choi Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1972 Counsel for Dimensional Fund Advisors LP (April 2012 - January 2014); Vice President and Counsel for AllianceBernstein L.P. (2006-2012). ------------------------------------------------------------------------------------------------------------------------- Stephen A. Clark Vice President Since 2004 Vice President of all the DFA Entities, DFA Australia 1972 Limited and Dimensional Fund Advisors Canada ULC. Head of Global Institutional Services for Dimensional Fund Advisors LP (since January 2014). Formerly, Head of Institutional, North America (March 2012 to December 2013) and Head of Portfolio Management (January 2006 to March 2012) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- Matt B. Cobb Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (September 2011-March 2013); Vice President at MullinTBG (2005-2011). ------------------------------------------------------------------------------------------------------------------------- Rose C. Cooke Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (August 2010-March 2014); Vice President, Sales and Business Development at AdvisorsIG (PPMG) (2009-2010); Vice President at Credit Suisse (2007- 2009). ------------------------------------------------------------------------------------------------------------------------- Ryan Cooper Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1979 Regional Director for Dimensional Fund Advisors LP (2003-March 2014). ------------------------------------------------------------------------------------------------------------------------- Jeffrey D. Cornell Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1976 Regional Director for Dimensional Fund Advisors LP (August 2002-January 2012). ------------------------------------------------------------------------------------------------------------------------- Robert P. Cornell Vice President Since 2007 Vice President of all the DFA Entities. 1949 ------------------------------------------------------------------------------------------------------------------------- George H. Crane Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1955 Senior Vice President and Managing Director at State Street Bank & Trust Company (2007-2008). ------------------------------------------------------------------------------------------------------------------------- Christopher S. Crossan Vice President and Since 2004 Vice President and Chief Compliance Officer of all 1965 Global Chief the DFA Entities, DFA Australia Limited, and Compliance Officer Dimensional Fund Advisors Ltd. Chief Compliance Officer of Dimensional Fund Advisors Canada. Formerly, Vice President and Chief Compliance Officer for Dimensional SmartNest (US) LLC (October 2010- 2014). ------------------------------------------------------------------------------------------------------------------------- James L. Davis Vice President Since 1999 Vice President of all the DFA Entities. 1956 ------------------------------------------------------------------------------------------------------------------------- Robert T. Deere Vice President Since 1994 Vice President of all the DFA Entities, DFA Australia 1957 Limited and Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------------- Johnathon K. DeKinder Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1979 Regional Director (January 2012-January 2014) and Senior Associate (August 2010-December 2011) for Dimensional Fund Advisors LP; MBA and MPA at the University of Texas at Austin (August 2007-May 2010). ------------------------------------------------------------------------------------------------------------------------- Peter F. Dillard Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1972 Research Associate (August 2008-March 2010) and Research Assistant (April 2006-August 2008) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- 81 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ----------------------------------------------------------------------------------------------------------------------- Robert W. Dintzner Vice President Since 2001 Vice President of all the DFA Entities. 1970 ----------------------------------------------------------------------------------------------------------------------- Karen M. Dolan Vice President Since 2014 Vice President of all the DFA Entities. Head of 1979 Marketing for Dimensional Fund Advisors LP (since February 2013). Formerly, Senior Manager of Research and Marketing for Dimensional Fund Advisors LP (June 2012-January 2013); Director of Mutual Fund Analysis at Morningstar (January 2008- May 2012). ----------------------------------------------------------------------------------------------------------------------- Richard A. Eustice Vice President and Since 1998 Vice President and Assistant Secretary of all the 1965 Assistant Secretary DFA Entities and DFA Australia Limited. Chief Operating Officer for Dimensional Fund Advisors Pte. Ltd. (since April 2013). Formerly, Chief Operating Officer for Dimensional Fund Advisors Ltd. (July 2008-March 2013). ----------------------------------------------------------------------------------------------------------------------- Gretchen A. Flicker Vice President Since 2004 Vice President of all the DFA Entities. 1971 ----------------------------------------------------------------------------------------------------------------------- Jed S. Fogdall Vice President Since 2008 Vice President of all the DFA Entities. Co-Head of 1974 Portfolio Management (since March 2012) and Senior Portfolio Manager (since January 2012) for Dimensional Fund Advisors LP. Formerly, Portfolio Manager for Dimensional Fund Advisors LP (September 2004-January 2012). ----------------------------------------------------------------------------------------------------------------------- Edward A. Foley Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1976 Regional Director for Dimensional Fund Advisors LP (August 2011-January 2014); Senior Vice President of First Trust Advisors L.P. (2007-July 2011). ----------------------------------------------------------------------------------------------------------------------- Jeremy P. Freeman Vice President Since 2009 Vice President of all the DFA Entities. 1970 ----------------------------------------------------------------------------------------------------------------------- Mark R. Gochnour Vice President Since 2007 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Tom M. Goodrum Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1968 Managing Director at BlackRock (2004-January 2012). ----------------------------------------------------------------------------------------------------------------------- Henry F. Gray Vice President Since 2000 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- John T. Gray Vice President Since 2007 Vice President of all the DFA Entities. 1974 ----------------------------------------------------------------------------------------------------------------------- Christian Gunther Vice President Since 2011 Vice President of all the DFA Entities. Senior Trader 1975 for Dimensional Fund Advisors LP (since 2012). Formerly, Senior Trader (2009-2012). ----------------------------------------------------------------------------------------------------------------------- Robert W. Hawkins Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Counsel for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President and Senior Counsel for State Street Global Advisors (November 2008-January 2011). ----------------------------------------------------------------------------------------------------------------------- Joel H. Hefner Vice President Since 2007 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Julie C. Henderson Vice President and Since 2005 Vice President and Fund Controller of all the DFA 1974 Fund Controller Entities, Dimensional Cayman Commodity Fund I Ltd. and Dimensional Japan Ltd. ----------------------------------------------------------------------------------------------------------------------- Kevin B. Hight Vice President Since 2005 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Christine W. Ho Vice President Since 2004 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Michael C. Horvath Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1960 Managing Director, Co-Head Global Consultant Relations at BlackRock (2004-2011). ----------------------------------------------------------------------------------------------------------------------- 82 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years --------------------------------------------------------------------------------------------------------------------------- Jeff J. Jeon Vice President Since 2004 Vice President of all the DFA Entities and 1973 Dimensional Cayman Commodity Fund I Ltd. --------------------------------------------------------------------------------------------------------------------------- Garret D. Jones Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1971 Manager of Sales and Marketing Systems (January 2011-January 2014) and Project Manager (2007- 2010) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Stephen W. Jones Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1968 Facilities Manager for Dimensional Fund Advisors LP (October 2008-January 2012). --------------------------------------------------------------------------------------------------------------------------- David M. Kavanaugh Vice President Since 2014 Vice President of all the DFA Entities. Head of 1978 Operations for Financial Advisor Services for Dimensional Fund Advisors LP (since July 2014). Formerly, Counsel of Dimensional Fund Advisors LP (August 2011-January 2014); Associate at Andrews Kurth LLP (2006-2011). --------------------------------------------------------------------------------------------------------------------------- Patrick M. Keating Vice President and Since 2003 Vice President of all the DFA Entities, Dimensional 1954 Chief Operating Officer Cayman Commodity Fund I Ltd., Dimensional Japan Ltd. and Dimensional Advisors Ltd. Chief Operating Officer of Dimensional Holdings Inc., DFA Securities LLC, Dimensional Fund Advisors LP, Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan Ltd., Dimensional Advisors Ltd. And Dimensional Fund Advisors Pte. Ltd. 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 Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1977 Regional Director for Dimensional Fund Advisors LP (October 2004-January 2013). --------------------------------------------------------------------------------------------------------------------------- Glenn E. Kemp Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1948 Regional Director for Dimensional Fund Advisors LP (April 2006-January 2012). --------------------------------------------------------------------------------------------------------------------------- David M. Kershner Vice President Since 2010 Vice President of all the DFA Entities. Portfolio 1971 Manager for Dimensional Fund Advisors LP (since June 2004). --------------------------------------------------------------------------------------------------------------------------- Kimberly L. Kiser Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1972 Creative Director for Dimensional Fund Advisors LP (September 2012-January 2014); Vice President and Global Creative Director at Morgan Stanley (2007-2012); Visiting Assistant Professor, Graduate Communications Design at Pratt Institute (2004-2012). --------------------------------------------------------------------------------------------------------------------------- Timothy R. Kohn Vice President Since 2011 Vice President of all the DFA Entities. Head of 1971 Defined Contribution Sales for Dimensional Fund Advisors LP (since August 2010). --------------------------------------------------------------------------------------------------------------------------- Joseph F. Kolerich Vice President Since 2004 Vice President of all the DFA Entities. Senior 1971 Portfolio Manager of Dimensional Fund Advisors LP (since January 2012). Formerly, Portfolio Manager for Dimensional (April 2001-January 2012). --------------------------------------------------------------------------------------------------------------------------- Mark D. Krasniewski Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1981 Senior Associate, Investment Analytics and Data (January 2012-December 2012) and Systems Developer (June 2007-December 2011) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Kahne L. Krause Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1966 Regional Director (May 2010-January 2014) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Stephen W. Kurad Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1968 Regional Director for Dimensional Fund Advisors LP (2007-2010). --------------------------------------------------------------------------------------------------------------------------- 83 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------------- Michael F. Lane Vice President Since 2004 Vice President of all the DFA Entities. Formerly, 1967 Chief Executive Officer for Dimensional SmartNest (US) LLC (July 2012-November 2014). ------------------------------------------------------------------------------------------------------------------------- Francis R. Lao Vice President Since 2011 Vice President of all the DFA Entities. Formerly, Vice 1969 President - Global Operations at Janus Capital Group (2005-2011). ------------------------------------------------------------------------------------------------------------------------- David F. LaRusso Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1978 Senior Trader (January 2010-December 2012) and Trader (2000-2009) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- Juliet H. Lee Vice President Since 2005 Vice President of all the DFA Entities. 1971 ------------------------------------------------------------------------------------------------------------------------- Marlena I. Lee Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1980 Research Associate for Dimensional Fund Advisors LP (July 2008-2010). ------------------------------------------------------------------------------------------------------------------------- John B. Lessley Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1960 Regional Director for Dimensional Fund Advisors LP (January 2008-January 2013). ------------------------------------------------------------------------------------------------------------------------- Apollo D. Lupescu Vice President Since 2009 Vice President of all the DFA Entities. 1969 ------------------------------------------------------------------------------------------------------------------------- Peter Magnusson Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1969 Regional Director for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President at Columbia Management (2004-2010). ------------------------------------------------------------------------------------------------------------------------- Kenneth M. Manell Vice President Since 2010 Vice President of all the DFA Entities and 1972 Dimensional Cayman Commodity Fund I Ltd. Formerly, Counsel for Dimensional Fund Advisors LP (September 2006-January 2010). ------------------------------------------------------------------------------------------------------------------------- Aaron M. Marcus Vice President Since 2008 Vice President of all DFA Entities and Head of 1970 Global Human Resources for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- David R. Martin Vice President, Chief Since 2007 Vice President, Chief Financial Officer and Treasurer 1956 Financial Officer and of all the DFA Entities. Director, Vice President, Treasurer Chief Financial Officer and Treasurer of Dimensional Fund Advisors Ltd., DFA Australia Limited, Dimensional Advisors Pte. Ltd., Dimensional Hong Kong Limited, Dimensional Fund Advisors Canada ULC, and Dimensional Cayman Commodity Fund I Ltd. Director of Dimensional Funds plc and Dimensional Funds II plc. Statutory Auditor of Dimensional Japan Ltd. Formerly, Chief Financial Officer, Treasurer and Vice President of Dimensional SmartNest (US) LLC (October 2010-November 2014). ------------------------------------------------------------------------------------------------------------------------- Bryan R. McClune Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1975 Regional Director of Dimensional Fund Advisors LP (January 2009-January 2014). ------------------------------------------------------------------------------------------------------------------------- Philip P. McInnis Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1984 Regional Director (January 2009-January 2014) and Senior Associate (2011) for Dimensional Fund Advisors LP; Investment Consultant (March 2010- December 2010) and Investment Analyst (December 2007-March 2010) at Towers Watson. ------------------------------------------------------------------------------------------------------------------------- Jonathan G. Nelson Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Manager, Investment Systems (2011-January 2013) and Project Manager (2007-2010) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- 84 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ----------------------------------------------------------------------------------------------------------------------------- Catherine L. Newell Vice President and Vice President since 1997 Vice President and Secretary of all the DFA Entities. 1964 Secretary and Secretary since 2000 Director, Vice President and Secretary 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 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). Director of 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). Formerly, Vice President and Secretary of Dimensional SmartNest (US) LLC (October 2010- November 2014). ----------------------------------------------------------------------------------------------------------------------------- Pamela B. Noble Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1964 Portfolio Manager for Dimensional Fund Advisors LP (2008-2010). ----------------------------------------------------------------------------------------------------------------------------- Selwyn Notelovitz Vice President and Since 2013 Vice President of all the DFA Entities. Deputy Chief 1961 Deputy Chief Compliance Officer of Dimensional Fund Advisors Compliance Officer LP (since December 2012). Formerly, Chief Compliance Officer of Wellington Management Company, LLP (2004-2011). ----------------------------------------------------------------------------------------------------------------------------- Carolyn L. O Vice President Since 2010 Vice President of all the DFA Entities and 1974 Dimensional Cayman Commodity Fund I Ltd. Deputy General Counsel, Funds (since 2011). Formerly, Counsel for Dimensional Fund Advisors LP (2007- 2010). ----------------------------------------------------------------------------------------------------------------------------- Gerard K. O'Reilly Vice President and Co- Vice President since 2007 Vice President and Co-Chief Investment Officer of all 1976 Chief Investment and Co-Chief Investment the DFA Entities and Dimensional Fund Advisors Officer Officer since 2014 Canada ULC. Director of Dimensional Funds plc and Dimensional Fund II plc. ----------------------------------------------------------------------------------------------------------------------------- Daniel C. Ong Vice President Since 2009 Vice President of all the DFA Entities. Portfolio 1973 Manager for Dimensional Fund Advisors LP (since July 2005). ----------------------------------------------------------------------------------------------------------------------------- Kyle K. Ozaki Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1978 Senior Compliance Officer (January 2008-January 2010) and Compliance Officer (February 2006- December 2007) for Dimensional Fund Advisors LP. ----------------------------------------------------------------------------------------------------------------------------- Matthew A. Pawlak Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1977 Regional Director for Dimensional Fund Advisors LP (2012-January 2013); Senior Consultant (June 2011- December 2011) and Senior Investment Analyst and Consultant (July 2008-June 2011) at Hewitt EnnisKnupp. ----------------------------------------------------------------------------------------------------------------------------- David A. Plecha Vice President Since 1993 Vice President of all the DFA Entities, DFA Australia 1961 Limited, Dimensional Fund Advisors Ltd. and Dimensional Fund Advisors Canada ULC. ----------------------------------------------------------------------------------------------------------------------------- Allen Pu Vice President Since 2011 Vice President of all the DFA Entities. Portfolio 1970 Manager for Dimensional Fund Advisors LP (since 2006). ----------------------------------------------------------------------------------------------------------------------------- Theodore W. Randall Vice President Since 2008 Vice President of all the DFA Entities. Formerly, 1973 Research Associate for Dimensional Fund Advisors LP (2006 to 2008). ----------------------------------------------------------------------------------------------------------------------------- David J. Rapozo Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1967 Regional Director for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President at BlackRock (2009-2010). ----------------------------------------------------------------------------------------------------------------------------- Mark A. Regier Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1969 Planning and Analysis Manager for Dimensional Fund Advisors LP (July 2007-January 2014). ----------------------------------------------------------------------------------------------------------------------------- 85 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------ Savina B. Rizova Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1981 Research Associate (June 2011-January 2012) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ L. Jacobo Rodriguez Vice President Since 2005 Vice President of all the DFA Entities. 1971 ------------------------------------------------------------------------------------------------------------------ Oliver J. Rowe Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1960 Senior Manager, Human Resources for Dimensional Fund Advisors LP (January 2012-January 2014); Director of Human Resources at Spansion, Inc. (March 2009-December 2011). ------------------------------------------------------------------------------------------------------------------ Julie A. Saft Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1959 Client Systems Manager for Dimensional Fund Advisors LP (July 2008-January 2010); Senior Manager at Vanguard (November 1997-July 2008). ------------------------------------------------------------------------------------------------------------------ Walid A. Shinnawi Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1961 Regional Director for Dimensional Fund Advisors LP (March 2006-January 2010). ------------------------------------------------------------------------------------------------------------------ Bruce A. Simmons Vice President Since 2009 Vice President of all the DFA Entities. Formerly, 1965 Investment Operations Manager for Dimensional Fund Advisors LP (May 2007-January 2009). ------------------------------------------------------------------------------------------------------------------ Ted R. Simpson Vice President Since 2007 Vice President of all the DFA Entities. 1968 ------------------------------------------------------------------------------------------------------------------ Bhanu P. Singh Vice President Since 2014 Vice President of all the DFA Entities. Portfolio 1981 Manager for Dimensional Fund Advisors LP (since January 2012). Formerly, Investment Associate for Dimensional Fund Advisors LP (August 2010- December 2011). ------------------------------------------------------------------------------------------------------------------ Bryce D. Skaff Vice President Since 2007 Vice President of all the DFA Entities. 1975 ------------------------------------------------------------------------------------------------------------------ Lukas J. Smart Vice President Since 2014 Vice President of all the DFA Entities. Portfolio 1977 Manager of Dimensional Fund Advisors LP (since January 2010). ------------------------------------------------------------------------------------------------------------------ Andrew D. Smith Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1968 Project Manager for Dimensional Fund Advisors LP (2007-2010). ------------------------------------------------------------------------------------------------------------------ Grady M. Smith Vice President Since 2004 Vice President of all the DFA Entities and 1956 Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------ Carl G. Snyder Vice President Since 2000 Vice President of all the DFA Entities. 1963 ------------------------------------------------------------------------------------------------------------------ Lawrence R. Spieth Vice President Since 2004 Vice President of all the DFA Entities. 1947 ------------------------------------------------------------------------------------------------------------------ Richard H. Tatlow V Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (April 2010-January 2013). ------------------------------------------------------------------------------------------------------------------ Blake T. Tatsuta Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1973 Manager, Investment Analytics and Data (2012- January 2013) and Research Assistant (2002-2011) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ Erik T. Totten Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1980 Regional Director (2010-January 2013) and Senior Associate (2007-2009) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ John H. Totten Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1978 Regional Director for Dimensional Fund Advisors LP (January 2008-January 2012). ------------------------------------------------------------------------------------------------------------------ Robert C. Trotter Vice President Since 2009 Vice President of all the DFA Entities. 1958 ------------------------------------------------------------------------------------------------------------------ Karen E. Umland Vice President Since 1997 Vice President of all the DFA Entities, DFA Australia 1966 Limited, Dimensional Fund Advisors Ltd., and Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------ 86 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ---------------------------------------------------------------------------------------------------------------- Benjamin C. Walker Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1979 Regional Director for Dimensional Fund Advisors LP (September 2008-January 2014). ---------------------------------------------------------------------------------------------------------------- Brian J. Walsh Vice President Since 2009 Vice President of all the DFA Entities. Portfolio 1970 Manager for Dimensional Fund Advisors LP (since 2004). ---------------------------------------------------------------------------------------------------------------- Weston J. Wellington Vice President Since 1997 Vice President of all the DFA Entities. 1951 ---------------------------------------------------------------------------------------------------------------- Ryan J. Wiley Vice President Since 2007 Vice President of all the DFA Entities. 1976 ---------------------------------------------------------------------------------------------------------------- Paul E. Wise Vice President Since 2005 Vice President of all the DFA Entities. 1955 ---------------------------------------------------------------------------------------------------------------- Joseph L. Young Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1978 Regional Director for Dimensional Fund Advisors LP (2005-2010). ---------------------------------------------------------------------------------------------------------------- /1/ Each officer holds office for an indefinite term at the pleasure of the Board of 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://us.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, 2014 tax year end, this notice is for informational purposes only. For shareholders with an October 31, 2014 tax year end, please consult your tax advisor as to the pertinence of this notice. For the fiscal year November 1, 2013 to October 31, 2014, 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) ------------------------------------ ------------- ------------- ------------- ------------- ------------ ---------- Tax-Managed U.S. Marketwide Value Portfolio... 100% -- -- 100% 100% 100% Tax-Managed U.S. Equity Portfolio............. 100% -- -- 100% 100% 100% Tax-Managed U.S. Targeted Value Portfolio..... 25% -- 75% 100% 100% 100% Tax-Managed U.S. Small Cap Portfolio.......... 91% -- 9% 100% 100% 100% T.A. U.S. Core Equity 2 Portfolio............. 62% -- 38% 100% 100% 100% Tax-Managed DFA International Value Portfolio. 100% -- -- 100% 100% 100% T.A. World ex U.S. Core Equity Portfolio...... 93% -- 7% 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) ------------------------------------ --------- --------- ---------- ---------- Tax-Managed U.S. Marketwide Value Portfolio... -- 1% 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. 6% 100% 100% 100% T.A. World ex U.S. Core Equity Portfolio...... 7% 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. (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] DFA103114-002A [LOGO] ANNUAL REPORT year ended: October 31, 2014 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 2014 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 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... 25 Fund Management.............................................. 26 Voting Proxies on Fund Portfolio Securities.................. 37 Notice to Shareholders....................................... 38 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 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, 2014 [CHART] CSTG&E U.S. Social Core Russell 3000(R) Equity 2 Portfolio Value 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 8/31/2013 13,307 13,366 9/30/2013 13,889 13,863 10/31/2013 14,452 14,452 11/30/2013 14,938 14,872 12/31/2013 15,376 15,264 1/31/2014 14,665 14,782 2/28/2014 15,309 15,483 3/31/2014 15,525 15,565 4/30/2014 15,469 15,584 5/31/2014 15,692 15,924 6/30/2014 16,205 16,324 7/31/2014 15,669 16,001 Past performance is not predictive of 8/31/2014 16,328 16,673 future performance. 9/30/2014 15,750 16,325 The returns shown do not reflect the 10/31/2014 16,120 16,774 deduction of taxes that a shareholder would pay on fund distributions or the Average Annual One Five Since redemption of fund shares. Total Return Year Years Inception Russell data copyright (C) Russell ----------------------------------------------------- Investment Group 1995-2014, all 11.54% 17.10% 6.81% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- CSTG&E INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO VS. MSCI WORLD EX USA INDEX (NET DIVIDENDS) August 3, 2007-October 31, 2014 [CHART] CSTG&E International Social MSCI World ex USA Core Equity Portfolio Index (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 9/30/2013 10,484 10,017 10/31/2013 10,839 10,353 11/30/2013 10,874 10,416 12/31/2013 11,108 10,573 1/31/2014 10,692 10,146 2/28/2014 11,323 10,700 3/31/2014 11,293 10,652 4/30/2014 11,437 10,820 5/31/2014 11,557 10,987 6/30/2014 11,717 11,143 7/31/2014 11,389 10,945 8/31/2014 11,414 10,953 Past performance is not predictive of 9/30/2014 10,800 10,504 future performance. 10/31/2014 10,654 10,337 The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Since would pay on fund distributions or the Total Return Year Years Inception redemption of fund shares. -------------------------------------------------------- MSCI data copyright MSCI 2014, all -1.71% 6.86% 0.88% rights reserved. -------------------------------------------------------------------------------- 2 DFA INVESTMENT DIMENSIONS GROUP INC. MANAGEMENT'S DISCUSSION AND ANALYSIS (Unaudited) U.S. Equity Market Review 12 Months Ended October 31, 2014 U.S. equities had strong gains during the period. The broad U.S. equity market, as measured by the Russell 3000(R) Index, had positive returns in 9 of the 12 months. As measured by the Russell indices, large cap stocks outperformed small cap stocks. Total Return for 12 Months Ended October 31, 2014 ------------------------------------------------- Russell 3000(R) Index........................ 16.07% Russell Microcap(R) Index (micro cap stocks). 7.34% Russell 2000(R) Index (small cap stocks)..... 8.06% Russell 1000(R) Index (large cap stocks)..... 16.78% Dow Jones U.S. Select REIT Index/SM/......... 20.69% Growth stocks slightly outperformed value stocks as measured by the Russell indices. Total Return for 12 Months Ended October 31, 2014 ------------------------------------------------- Russell 2000(R) Value Index (small cap value stocks)... 7.89% Russell 2000(R) Growth Index (small cap growth stocks). 8.26% Russell 1000(R) Value Index (large cap value stocks)... 16.46% Russell 1000(R) Growth Index (large cap growth stocks). 17.11% ---------- Source: Russell data copyright (C) Russell Investment Group 1995-2014, 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 period 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 invests in a broadly diversified group of U.S. equity securities 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, 2014, the Portfolio held approximately 1,760 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, 2014, total returns were 11.54% for the Portfolio and 16.07% for the Russell 3000(R) Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio had a greater allocation than the Index to small cap stocks and less weight in large cap stocks, which contributed to the Portfolio's relative underperformance as small cap stocks strongly underperformed large cap stocks during the period. The Portfolio's exclusion of real estate investment trusts (REITs) also contributed to the Portfolio's relative underperformance as REITs outperformed most other sectors during the period. 3 International Equity Market Review 12 Months Ended October 31, 2014 Performance of non-U.S. developed markets was generally negative for the period. Only large cap growth stocks had positive returns. As measured by the MSCI world ex USA indices, large cap stocks outperformed small cap stocks, and growth stocks outperformed value stocks. 12 Months Ended October 31, 2014 -------------------------------- Return in U.S. Dollars ---------------------- MSCI World ex USA Index........... -0.15% MSCI World ex USA Small Cap Index. -2.14% MSCI World ex USA Value Index..... -0.62% MSCI World ex USA Growth Index.... 0.31% During the period, the U.S. dollar (USD) appreciated against developed markets currencies, detracting from USD-denominated returns of non-U.S. securities in developed markets. 12 Months Ended October 31, 2014 -------------------------------- Ten Largest Foreign Developed Markets by Market Cap Local Return Return in U.S. Dollars --------------------------------------------------- ------------ ---------------------- United Kingdom.................... 0.55% 0.12% Japan............................. 13.47% -0.70% Canada............................ 12.71% 4.26% France............................ 1.34% -6.61% Switzerland....................... 9.61% 3.13% Germany........................... 2.52% -5.52% Australia......................... 6.74% -0.92% Spain............................. 10.44% 1.78% Hong Kong......................... 10.24% 10.21% Sweden............................ 13.18% -1.03% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2014, all rights reserved. CSTG&E International Social Core Equity Portfolio The CSTG&E International Social Core Equity Portfolio invests in a broadly diversified basket of international stocks, with increased exposure to smaller company stocks and those with value characteristics as measured by book-to-market ratio. 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, 2014, 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, 2014, total returns were -1.71% for the Portfolio and -0.15% 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 trends in the international equity markets rather than by the behavior of a limited number of stocks. The Portfolio's social screens exclude healthcare, which was the best performing sector and was the primary reason for the Portfolio's relative underperformance against the Index. In addition, 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 underperformed international large cap and mid-cap stocks during the period, and the Portfolio's exposure to small cap stocks detracted from performance relative to the Index. The Portfolio's greater exposure than the Index to value stocks (as measured by book-to-market) also detracted from relative performance as value stocks generally 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, 2014 EXPENSE TABLES Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- CSTG&E U.S. Social Core Equity 2 Portfolio ------------------------------------------ Actual Fund Return................................ $1,000.00 $1,042.10 0.33% $1.70 Hypothetical 5% Annual Return..................... $1,000.00 $1,023.54 0.33% $1.68 CSTG&E International Social Core Equity Portfolio ------------------------------------------------- Actual Fund Return................................ $1,000.00 $ 931.50 0.54% $2.63 Hypothetical 5% Annual Return..................... $1,000.00 $1,022.48 0.54% $2.75 ---------- * 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 29, 2014. 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. CSTG&E U.S. Social Core Equity 2 Portfolio Consumer Discretionary....................... 16.2% Consumer Staples............................. 5.5% Energy....................................... 12.2% Financials................................... 18.8% Industrials.................................. 17.5% Information Technology....................... 18.1% Materials.................................... 6.2% Other........................................ -- Real Estate Investment Trusts................ -- Telecommunication Services................... 3.0% Utilities.................................... 2.5% ----- 100.0% CSTG&E International Social Core Equity Portfolio Consumer Discretionary....................... 15.6% Consumer Staples............................. 6.3% Energy....................................... 9.7% Financials................................... 24.7% Industrials.................................. 17.8% Information Technology....................... 5.8% Materials.................................... 11.8% Other........................................ -- Telecommunication Services................... 4.2% Utilities.................................... 4.1% ----- 100.0% 6 CSTG&E U.S. SOCIAL CORE EQUITY 2 PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (89.8%) Consumer Discretionary -- (14.6%) * Amazon.com, Inc.................... 700 $ 213,822 0.2% Comcast Corp. Class A.............. 12,595 697,133 0.8% Ford Motor Co...................... 16,225 228,610 0.3% Home Depot, Inc. (The)............. 2,736 266,815 0.3% Time Warner Cable, Inc............. 2,380 350,360 0.4% Time Warner, Inc................... 5,166 410,542 0.5% Walt Disney Co. (The).............. 7,200 657,936 0.7% Other Securities................... 12,032,549 13.0% ----------- ------ Total Consumer Discretionary........... 14,857,767 16.2% ----------- ------ Consumer Staples -- (5.0%) Coca-Cola Co. (The)................ 7,357 308,111 0.3% PepsiCo, Inc....................... 3,495 336,114 0.4% Procter & Gamble Co. (The)......... 6,900 602,163 0.7% Wal-Mart Stores, Inc............... 5,991 456,934 0.5% Other Securities................... 3,365,750 3.6% ----------- ------ Total Consumer Staples................. 5,069,072 5.5% ----------- ------ Energy -- (10.9%) Anadarko Petroleum Corp............ 3,500 321,230 0.4% Chevron Corp....................... 9,301 1,115,655 1.2% ConocoPhillips..................... 8,900 642,135 0.7% EOG Resources, Inc................. 3,542 336,667 0.4% Exxon Mobil Corp................... 22,179 2,144,931 2.3% Marathon Petroleum Corp............ 2,400 218,160 0.2% Occidental Petroleum Corp.......... 2,800 249,004 0.3% Schlumberger, Ltd.................. 3,111 306,931 0.3% Other Securities................... 5,844,592 6.4% ----------- ------ Total Energy........................... 11,179,305 12.2% ----------- ------ Financials -- (16.8%) American International Group, Inc.. 4,541 243,261 0.3% Bank of America Corp............... 32,676 560,720 0.6% * Berkshire Hathaway, Inc. Class B... 2,400 336,384 0.4% Citigroup, Inc..................... 9,544 510,890 0.6% Goldman Sachs Group, Inc. (The).... 1,240 235,588 0.3% JPMorgan Chase & Co................ 15,214 920,143 1.0% Travelers Cos., Inc. (The)......... 3,008 303,206 0.3% U.S. Bancorp....................... 8,200 349,320 0.4% Wells Fargo & Co................... 24,543 1,302,988 1.4% Other Securities................... 12,436,284 13.4% ----------- ------ Total Financials....................... 17,198,784 18.7% ----------- ------ Industrials -- (15.8%) 3M Co.............................. 1,500 230,655 0.3% CSX Corp........................... 6,100 217,343 0.2% Delta Air Lines, Inc............... 5,968 240,093 0.3% FedEx Corp......................... 2,068 346,183 0.4% General Electric Co................ 31,978 825,352 0.9% Norfolk Southern Corp.............. 2,980 329,707 0.4% Union Pacific Corp................. 5,800 675,410 0.7% Other Securities................... 13,219,800 14.3% ----------- ------ Total Industrials...................... 16,084,543 17.5% ----------- ------ 7 CSTG&E U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Information Technology -- (16.2%) Apple, Inc......................................... 18,319 $ 1,978,452 2.2% Cisco Systems, Inc................................. 17,854 436,887 0.5% * Google, Inc. Class A............................... 400 227,148 0.3% * Google, Inc. Class C............................... 400 223,632 0.3% Hewlett-Packard Co................................. 13,001 466,476 0.5% Intel Corp......................................... 25,962 882,968 1.0% International Business Machines Corp............... 2,000 328,800 0.4% * Micron Technology, Inc............................. 10,475 346,618 0.4% Microsoft Corp..................................... 15,664 735,425 0.8% Oracle Corp........................................ 8,729 340,867 0.4% QUALCOMM, Inc...................................... 3,200 251,232 0.3% Visa, Inc. Class A................................. 1,200 289,716 0.3% Other Securities................................... 10,074,084 10.7% ------------ ------ Total Information Technology............................. 16,582,305 18.1% ------------ ------ Materials -- (5.5%) Dow Chemical Co. (The)............................. 5,481 270,761 0.3% Other Securities................................... 5,369,022 5.8% ------------ ------ Total Materials.......................................... 5,639,783 6.1% ------------ ------ Other -- (0.0%) Other Securities................................... -- 0.0% ------------ ------ Real Estate Investment Trusts -- (0.0%) Other Securities................................... 2,566 0.0% ------------ ------ Telecommunication Services -- (2.7%) AT&T, Inc.......................................... 43,847 1,527,629 1.7% Verizon Communications, Inc........................ 10,681 536,720 0.6% Other Securities................................... 666,212 0.7% ------------ ------ Total Telecommunication Services......................... 2,730,561 3.0% ------------ ------ Utilities -- (2.3%) Other Securities................................... 2,307,810 2.5% ------------ ------ TOTAL COMMON STOCKS...................................... 91,652,496 99.8% ------------ ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 5,313 0.0% ------------ ------ TEMPORARY CASH INVESTMENTS -- (0.4%) State Street Institutional Liquid Reserves, 0.077%. 380,860 380,860 0.4% ------------ ------ SECURITIES LENDING COLLATERAL -- (9.8%) (S)@ DFA Short Term Investment Fund..................... 863,096 9,986,016 10.9% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $71,158,412)................................... $102,024,685 111.1% ============ ====== 8 CSTG&E U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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........ $14,857,767 -- -- $ 14,857,767 Consumer Staples.............. 5,069,072 -- -- 5,069,072 Energy........................ 11,179,305 -- -- 11,179,305 Financials.................... 17,198,413 $ 371 -- 17,198,784 Industrials................... 16,084,519 24 -- 16,084,543 Information Technology........ 16,582,305 -- -- 16,582,305 Materials..................... 5,639,783 -- -- 5,639,783 Other......................... -- -- -- -- Real Estate Investment Trusts. 2,566 -- -- 2,566 Telecommunication Services.... 2,730,561 -- -- 2,730,561 Utilities..................... 2,307,810 -- -- 2,307,810 Rights/Warrants................. -- 5,313 -- 5,313 Temporary Cash Investments...... 380,860 -- -- 380,860 Securities Lending Collateral... -- 9,986,016 -- 9,986,016 ----------- ---------- -- ------------ TOTAL........................... $92,032,961 $9,991,724 -- $102,024,685 =========== ========== == ============ See accompanying Notes to Financial Statements. 9 CSTG&E INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (92.5%) AUSTRALIA -- (6.7%) AMP, Ltd.................................... 54,320 $ 280,129 0.3% # Australia & New Zealand Banking Group, Ltd.. 13,990 413,972 0.4% BHP Billiton, Ltd........................... 16,687 499,222 0.5% Commonwealth Bank of Australia.............. 3,519 250,234 0.3% National Australia Bank, Ltd................ 13,973 432,265 0.4% Rio Tinto, Ltd.............................. 4,438 236,982 0.3% Woodside Petroleum, Ltd..................... 7,970 283,097 0.3% Other Securities............................ 4,833,276 4.7% ---------- ---- TOTAL AUSTRALIA................................. 7,229,177 7.2% ---------- ---- AUSTRIA -- (0.5%) Other Securities............................ 489,948 0.5% ---------- ---- BELGIUM -- (1.0%) Other Securities............................ 1,105,041 1.1% ---------- ---- CANADA -- (9.2%) # Bank of Montreal............................ 3,168 229,733 0.2% Bank of Nova Scotia (The)................... 4,072 249,367 0.3% Canadian Natural Resources, Ltd............. 6,871 239,660 0.3% Royal Bank of Canada........................ 4,751 337,277 0.4% Toronto-Dominion Bank (The)................. 6,577 323,700 0.3% Other Securities............................ 8,494,616 8.4% ---------- ---- TOTAL CANADA.................................... 9,874,353 9.9% ---------- ---- CHINA -- (0.0%) Other Securities............................ 660 0.0% ---------- ---- DENMARK -- (1.1%) Other Securities............................ 1,171,386 1.2% ---------- ---- FINLAND -- (1.8%) Nokia Oyj................................... 43,552 363,916 0.4% Other Securities............................ 1,530,292 1.5% ---------- ---- TOTAL FINLAND................................... 1,894,208 1.9% ---------- ---- FRANCE -- (6.8%) BNP Paribas SA.............................. 4,597 288,885 0.3% Cie Generale des Etablissements Michelin.... 2,932 254,664 0.3% GDF Suez.................................... 15,992 388,284 0.4% Orange SA................................... 14,360 228,617 0.2% Total SA.................................... 11,152 665,811 0.7% Total SA Sponsored ADR...................... 6,258 374,792 0.4% Other Securities............................ 5,108,495 5.0% ---------- ---- TOTAL FRANCE.................................... 7,309,548 7.3% ---------- ---- GERMANY -- (5.7%) Allianz SE.................................. 1,912 304,050 0.3% BASF SE..................................... 4,646 410,521 0.4% Bayerische Motoren Werke AG................. 2,742 294,046 0.3% Daimler AG.................................. 6,646 518,182 0.5% Deutsche Telekom AG......................... 28,132 424,043 0.4% 10 CSTG&E INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- GERMANY -- (Continued) RWE AG................................ 8,756 $ 310,678 0.3% Other Securities...................... 3,821,995 3.9% ----------- ----- TOTAL GERMANY............................. 6,083,515 6.1% ----------- ----- GREECE -- (0.0%) Other Securities...................... -- 0.0% ----------- ----- HONG KONG -- (2.6%) Other Securities...................... 2,821,676 2.8% ----------- ----- IRELAND -- (0.4%) Other Securities...................... 474,959 0.5% ----------- ----- ISRAEL -- (0.4%) Other Securities...................... 457,811 0.5% ----------- ----- ITALY -- (2.5%) Eni SpA............................... 14,487 308,644 0.3% Other Securities...................... 2,416,632 2.4% ----------- ----- TOTAL ITALY............................... 2,725,276 2.7% ----------- ----- JAPAN -- (19.2%) Honda Motor Co., Ltd.................. 9,300 297,314 0.3% Mitsubishi UFJ Financial Group, Inc... 48,570 283,125 0.3% Mizuho Financial Group, Inc........... 146,100 266,240 0.3% NTT DOCOMO, Inc....................... 15,300 258,048 0.3% Sumitomo Mitsui Financial Group, Inc.. 7,364 300,325 0.3% Toyota Motor Corp..................... 14,060 846,091 0.9% Toyota Motor Corp. Sponsored ADR...... 4,348 527,630 0.5% Other Securities...................... 17,898,748 17.7% ----------- ----- TOTAL JAPAN............................... 20,677,521 20.6% ----------- ----- NETHERLANDS -- (2.4%) Other Securities...................... 2,630,397 2.6% ----------- ----- NEW ZEALAND -- (0.3%) Other Securities...................... 331,182 0.3% ----------- ----- NORWAY -- (1.0%) Other Securities...................... 1,028,675 1.0% ----------- ----- PORTUGAL -- (0.3%) Other Securities...................... 302,916 0.3% ----------- ----- SINGAPORE -- (1.5%) Other Securities...................... 1,599,730 1.6% ----------- ----- SPAIN -- (3.0%) Banco Santander SA.................... 28,962 255,897 0.3% # Banco Santander SA Sponsored ADR...... 37,087 325,253 0.3% Iberdrola SA.......................... 42,526 301,038 0.3% Other Securities...................... 2,335,563 2.3% ----------- ----- TOTAL SPAIN............................... 3,217,751 3.2% ----------- ----- SWEDEN -- (2.8%) Other Securities...................... 2,987,863 3.0% ----------- ----- 11 CSTG&E INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- SWITZERLAND -- (4.7%) ABB, Ltd................................ 13,615 $ 298,695 0.3% Nestle SA............................... 13,196 967,717 1.0% Other Securities........................ 3,830,109 3.8% ------------ ------ TOTAL SWITZERLAND............................. 5,096,521 5.1% ------------ ------ UNITED KINGDOM -- (18.6%) Anglo American P.L.C.................... 13,745 290,206 0.3% Barclays P.L.C. Sponsored ADR........... 17,636 271,594 0.3% BG Group P.L.C.......................... 20,371 339,504 0.3% # BHP Billiton P.L.C. ADR................. 4,664 242,715 0.3% BP P.L.C. Sponsored ADR................. 19,778 859,552 0.9% HSBC Holdings P.L.C. Sponsored ADR...... 18,918 965,196 1.0% * Lloyds Banking Group P.L.C. ADR......... 71,132 349,969 0.4% Prudential P.L.C. ADR................... 6,098 282,520 0.3% # Rio Tinto P.L.C. Sponsored ADR.......... 9,915 475,623 0.5% Royal Dutch Shell P.L.C. ADR(780259206). 10,328 741,447 0.7% Royal Dutch Shell P.L.C. ADR(780259107). 5,982 446,676 0.5% Vodafone Group P.L.C. Sponsored ADR..... 9,467 314,506 0.3% Other Securities........................ 14,449,211 14.2% ------------ ------ TOTAL UNITED KINGDOM.......................... 20,028,719 20.0% ------------ ------ UNITED STATES -- (0.0%) Other Securities........................ 266 0.0% ------------ ------ TOTAL COMMON STOCKS........................... 99,539,099 99.4% ------------ ------ PREFERRED STOCKS -- (0.0%) UNITED KINGDOM -- (0.0%) Other Securities........................ 330 0.0% ------------ ------ RIGHTS/WARRANTS -- (0.0%) PORTUGAL -- (0.0%) Other Securities........................ -- 0.0% ------------ ------ SPAIN -- (0.0%) Other Securities........................ 6,241 0.0% ------------ ------ UNITED KINGDOM -- (0.0%) Other Securities........................ 273 0.0% ------------ ------ TOTAL RIGHTS/WARRANTS......................... 6,514 0.0% ------------ ------ Value+ - ------ - SECURITIES LENDING COLLATERAL -- (7.5%) (S)@ DFA Short Term Investment Fund.......... 696,601 8,059,669 8.0% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $110,253,725)....................... $107,605,612 107.4% ============ ====== 12 CSTG&E INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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................... $ 440,742 $ 6,788,435 -- $ 7,229,177 Austria..................... -- 489,948 -- 489,948 Belgium..................... 74,976 1,030,065 -- 1,105,041 Canada...................... 9,871,518 2,835 -- 9,874,353 China....................... -- 660 -- 660 Denmark..................... -- 1,171,386 -- 1,171,386 Finland..................... 210,174 1,684,034 -- 1,894,208 France...................... 728,053 6,581,495 -- 7,309,548 Germany..................... 382,531 5,700,984 -- 6,083,515 Greece...................... -- -- -- -- Hong Kong................... -- 2,821,676 -- 2,821,676 Ireland..................... 90,749 384,210 -- 474,959 Israel...................... 22,903 434,908 -- 457,811 Italy....................... 225,432 2,499,844 -- 2,725,276 Japan....................... 1,018,195 19,659,326 -- 20,677,521 Netherlands................. 415,518 2,214,879 -- 2,630,397 New Zealand................. -- 331,182 -- 331,182 Norway...................... 98,508 930,167 -- 1,028,675 Portugal.................... 4,807 298,109 -- 302,916 Singapore................... 1,723 1,598,007 -- 1,599,730 Spain....................... 593,660 2,624,091 -- 3,217,751 Sweden...................... 80,761 2,907,102 -- 2,987,863 Switzerland................. 308,487 4,788,034 -- 5,096,521 United Kingdom.............. 6,157,427 13,871,292 -- 20,028,719 United States............... 266 -- -- 266 Preferred Stocks United Kingdom.............. -- 330 -- 330 Rights/Warrants Portugal.................... -- -- -- -- Spain....................... -- 6,241 -- 6,241 United Kingdom.............. -- 273 -- 273 Securities Lending Collateral. -- 8,059,669 -- 8,059,669 ----------- ----------- -- ------------ TOTAL......................... $20,726,430 $86,879,182 -- $107,605,612 =========== =========== == ============ See accompanying Notes to Financial Statements. 13 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2014 (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 $10,088 and $7,829 of securities on loan, respectively). $ 91,658 $ 99,546 Temporary Cash Investments at Value & Cost.............................................. 381 -- Collateral from Securities on Loan Invested in Affiliate at Value & Cost................ 9,986 8,060 Foreign Currencies at Value............................................................. -- 376 Cash.................................................................................... 73 4 Receivables: Investment Securities Sold............................................................ 87 49 Dividends, Interest and Tax Reclaims.................................................. 77 237 Securities Lending Income............................................................. 4 6 Prepaid Expenses and Other Assets....................................................... -- 1 ------------ ------------ Total Assets....................................................................... 102,266 108,279 ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned...................................................... 9,986 8,060 Investment Securities Purchased....................................................... 412 1 Due to Advisor........................................................................ 20 35 Accrued Expenses and Other Liabilities.................................................. 6 14 ------------ ------------ Total Liabilities.................................................................. 10,424 8,110 ------------ ------------ NET ASSETS.............................................................................. $ 91,842 $ 100,169 ============ ============ SHARES OUTSTANDING, $0.01 PAR VALUE (1)................................................. 6,387,432 11,463,034 ============ ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE................................ $ 14.38 $ 8.74 ============ ============ Investments at Cost..................................................................... $ 60,792 $ 102,194 ============ ============ Foreign Currencies at Cost.............................................................. $ -- $ 379 ============ ============ NET ASSETS CONSIST OF: Paid-In Capital......................................................................... $ 62,470 $ 109,092 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income).. 169 366 Accumulated Net Realized Gain (Loss).................................................... (1,663) (6,631) Net Unrealized Foreign Exchange Gain (Loss)............................................. -- (7) Net Unrealized Appreciation (Depreciation).............................................. 30,866 (2,651) ------------ ------------ NET ASSETS.............................................................................. $ 91,842 $ 100,169 ============ ============ (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, 2014 (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 $0 and $284, respectively). $ 1,597 $ 3,933 Income from Securities Lending......................................... 47 146 ------- ------- Total Investment Income............................................. 1,644 4,079 ------- ------- Expenses Investment Advisory Services Fees...................................... 247 475 Accounting & Transfer Agent Fees....................................... 6 18 Custodian Fees......................................................... 8 47 Filing Fees............................................................ 3 4 Shareholders' Reports.................................................. 4 5 Directors'/Trustees' Fees & Expenses................................... 1 1 Professional Fees...................................................... 3 3 Social Issue Screening Fees............................................ 20 36 Other.................................................................. 6 7 ------- ------- Total Expenses...................................................... 298 596 ------- ------- Fees Paid Indirectly................................................... -- -- ------- ------- Net Expenses........................................................... 298 596 ------- ------- Net Investment Income (Loss)........................................... 1,346 3,483 ------- ------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold........................................... 3,529 (3,602) Foreign Currency Transactions........................................ -- (63) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency........................... 5,299 (1,162) Translation of Foreign Currency Denominated Amounts.................. -- (8) ------- ------- Net Realized and Unrealized Gain (Loss)................................ 8,828 (4,835) ------- ------- Net Increase (Decrease) in Net Assets Resulting from Operations.......... $10,174 $(1,352) ======= ======= 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, 2014 2013 2014 2013 -------- -------- -------- -------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss).................................. $ 1,346 $ 1,453 $ 3,483 $ 2,034 Net Realized Gain (Loss) on: Investment Securities Sold.................................. 3,529 675 (3,602) (86) Foreign Currency Transactions............................... -- -- (63) (24) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.................. 5,299 21,536 (1,162) 19,724 Translation of Foreign Currency Denominated Amounts......... -- -- (8) 4 -------- -------- -------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations................................................ 10,174 23,664 (1,352) 21,652 -------- -------- -------- -------- Distributions From: Net Investment Income......................................... (1,334) (1,515) (3,441) (2,071) -------- -------- -------- -------- Total Distributions........................................ (1,334) (1,515) (3,441) (2,071) -------- -------- -------- -------- Capital Share Transactions (1): Shares Issued................................................. 4,371 1,318 5,718 29,491 Shares Issued in Lieu of Cash Distributions................... 1,334 1,515 3,441 2,071 Shares Redeemed............................................... (11,972) (11,910) (14,635) (5,607) -------- -------- -------- -------- Net Increase (Decrease) from Capital Share Transactions.... (6,267) (9,077) (5,476) 25,955 -------- -------- -------- -------- Total Increase (Decrease) in Net Assets.................... 2,573 13,072 (10,269) 45,536 Net Assets Beginning of Year............................................. 89,269 76,197 110,438 64,902 -------- -------- -------- -------- End of Year................................................... $ 91,842 $ 89,269 $100,169 $110,438 ======== ======== ======== ======== (1) Shares Issued and Redeemed: Shares Issued................................................. 320 120 625 3,692 Shares Issued in Lieu of Cash Distributions................... 96 136 366 258 Shares Redeemed............................................... (855) (995) (1,588) (677) -------- -------- -------- -------- Net Increase (Decrease) from Shares Issued and Redeemed.................................................. (439) (739) (597) 3,273 ======== ======== ======== ======== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)......................................... $ 169 $ 157 $ 366 $ 301 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, 2014 2013 2012 2011 2010 ----------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year....................................... $ 13.08 $ 10.07 $ 8.98 $ 8.49 $ 7.05 ------- ------- ------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)....................................... 0.20 0.20 0.16 0.13 0.11 Net Gains (Losses) on Securities (Realized and Unrealized)............. 1.30 3.01 1.08 0.49 1.44 ------- ------- ------- ------- ------- Total from Investment Operations...................................... 1.50 3.21 1.24 0.62 1.55 ----------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income.................................................. (0.20) (0.20) (0.15) (0.13) (0.11) ------- ------- ------- ------- ------- Total Distributions................................................... (0.20) (0.20) (0.15) (0.13) (0.11) ----------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year............................................. $ 14.38 $ 13.08 $ 10.07 $ 8.98 $ 8.49 ========================================================================= ======== ======== ======== ======== ======== Total Return............................................................. 11.54% 32.27% 13.94% 7.24% 22.14% ----------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)...................................... $91,842 $89,269 $76,197 $75,246 $82,083 Ratio of Expenses to Average Net Assets.................................. 0.32% 0.35% 0.36% 0.38% 0.37% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly). 0.32% 0.35% 0.36% 0.38% 0.37% Ratio of Net Investment Income to Average Net Assets..................... 1.47% 1.71% 1.65% 1.36% 1.36% Portfolio Turnover Rate.................................................. 11% 4% 9% 9% 7% ----------------------------------------------------------------------------------------------------------------------- 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, 2014 2013 2012 2011 2010 --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year....................................... $ 9.16 $ 7.39 $ 7.27 $ 7.92 $ 7.21 -------- -------- ------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)....................................... 0.29 0.21 0.21 0.22 0.16 Net Gains (Losses) on Securities (Realized and Unrealized)............. (0.43) 1.79 0.12 (0.64) 0.70 -------- -------- ------- ------- ------- Total from Investment Operations...................................... (0.14) 2.00 0.33 (0.42) 0.86 --------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income.................................................. (0.28) (0.23) (0.21) (0.23) (0.15) -------- -------- ------- ------- ------- Total Distributions................................................... (0.28) (0.23) (0.21) (0.23) (0.15) --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year............................................. $ 8.74 $ 9.16 $ 7.39 $ 7.27 $ 7.92 ========================================================================= ======== ======== ======== ======== ======== Total Return............................................................. (1.71)% 27.54% 4.87% (5.62)% 12.32% --------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)...................................... $100,169 $110,438 $64,902 $67,710 $84,836 Ratio of Expenses to Average Net Assets.................................. 0.53% 0.56% 0.60% 0.58% 0.56% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly). 0.53% 0.56% 0.60% 0.58% 0.56% Ratio of Net Investment Income to Average Net Assets..................... 3.08% 2.54% 3.00% 2.76% 2.12% Portfolio Turnover Rate.................................................. 18% 8% 7% 6% 5% --------------------------------------------------------------------------------------------------------------------------- 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-seven 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 ask prices which approximates 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, 2:00 a.m. ET), which is fourteen hours before the close of the NYSE (normally, 4:00 p.m. ET) 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, 2014, there were no significant transfers between Level 1 and Level 2 and no significant 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, 2014, 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 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. 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, 2014, 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 CSTG&E International Social Core Equity Portfolio 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, 2014, 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, 2014, the total related amounts paid by the Fund to the CCO were $262 (in thousands). The total related amounts paid by each of the Portfolios are included in Other Expenses on the Statement of Operations. 20 D. Deferred Compensation: At October 31, 2014, 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, 2014, 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........ $10,101 $15,898 CSTG&E International Social Core Equity Portfolio. 19,718 25,435 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, 2014, 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........ -- -- -- CSTG&E International Social Core Equity Portfolio. $10 $23 $(33) The tax character of dividends and distributions declared and paid during the years ended October 31, 2013 and October 31, 2014 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 2013.............................................. $1,515 -- $1,515 2014.............................................. 1,334 -- 1,334 CSTG&E International Social Core Equity Portfolio 2013.............................................. 2,071 -- 2,071 2014.............................................. 3,441 -- 3,441 21 At October 31, 2014, 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 -------------- ------------- ----- CSTG&E International Social Core Equity Portfolio. $10 -- $10 At October 31, 2014, 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 Carryforward (Depreciation) Losses) -------------- ------------- ------------ -------------- ------------- CSTG&E U.S. Social Core Equity 2 Portfolio............................. $171 -- $(1,660) $30,865 $29,376 CSTG&E International Social Core Equity Portfolio............................. 404 -- (6,588) (2,736) (8,920) 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, 2014, 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, ---------------------------- 2017 2018 Unlimited Total ------ ---- --------- ------ CSTG&E U.S. Social Core Equity 2 Portfolio........ $1,104 $556 -- $1,660 CSTG&E International Social Core Equity Portfolio. 904 -- $5,684 6,588 During the year ended October 31, 2014, the Portfolios utilized the following capital loss carryforwards to offset realized capital gains for federal income tax purposes (amounts in thousands): CSTG&E U.S. Social Core Equity 2 Portfolio. $3,529 At October 31, 2014, 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, as follows (amounts in thousands): Net Unrealized Federal Unrealized Unrealized Appreciation Tax Cost Appreciation Depreciation (Depreciation) -------- ------------ ------------ -------------- CSTG&E U.S. Social Core Equity 2 Portfolio........ $ 71,160 $34,157 $ (3,292) $30,865 CSTG&E International Social Core Equity Portfolio. 110,331 14,819 (17,544) (2,725) 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 22 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 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. 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, 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 agreement for the line of credit expires on March 2, 2015. The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit 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 line of credit agreement expires on January 9, 2015. For the year ended October 31, 2014, 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............. 0.84% $623 46 $1 $4,037 CSTG&E International Social Core Equity Portfolio............... 0.84% 904 60 1 7,256 * Number of Days Outstanding represents the total of single or consecutive days during the year ended October 31, 2014, 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, 2014. I. Securities Lending: As of October 31, 2014, the Portfolios had securities on loan to brokers/dealers, for which each Portfolio received cash collateral. 23 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 ------ CSTG&E U.S. Social Core Equity 2 Portfolio........ $187 CSTG&E International Social Core Equity Portfolio. 178 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. In the event of the bankruptcy of the borrower, a Portfolio could experience delay in recovering the loaned securities or only recover cash or a security of equivalent value. 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. Other: At October 31, 2014, 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. L. 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. 24 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors of DFA Investment Dimensions Group Inc. and Shareholders of the Portfolios, as defined: 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, 2014, 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, 2014 by correspondence with the custodians and the transfer agent of the investee fund, provide a reasonable basis for our opinion. PricewaterhouseCoopers LLP Philadelphia, Pennsylvania December 19, 2014 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 Strategy Committee (the "Strategy 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, 2014. 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, 2014. Each Board's Strategy Committee consists of both interested and disinterested Trustees/Directors. The Strategy Committee is comprised of John P. Gould, Edward P. Lazear, Myron S. Scholes and Eduardo A. Repetto. The Strategy 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 Strategy 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 Strategy Committee was formed on December 17, 2010, and there were two Strategy Committee meetings held during the fiscal year ended October 31, 2014. 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 DFA Principal Occupation(s) During Past 5 with the Fund, Address and Term of Office/1/ and Fund Complex/2/ Years and Other Directorships of Public Year of Birth Length of Service Overseen Companies Held ------------------------------------------------------------------------------------------------------------------------ Disinterested Trustees/Directors ------------------------------------------------------------------------------------------------------------------------ George M. Constantinides DFAIDG-Since 1983 108 portfolios in 4 Leo Melamed Professor of Finance, Director of DFAIDG and DIG. DIG-Since 1993 investment companies University of Chicago Booth School of Trustee of DFAITC and DEM. DFAITC-Since 1992 Business. The University of Chicago DEM-Since 1993 Booth School of Business 5807 S. Woodlawn Avenue Chicago, IL 60637 1947 ------------------------------------------------------------------------------------------------------------------------ John P. Gould DFAIDG-Since 1986 108 portfolios in 4 Steven G. Rothmeier Professor and Director of DFAIDG and DIG. DIG-Since 1993 investment companies Distinguished Service Professor of Trustee of DFAITC and DEM DFAITC-Since 1992 Economics, University of Chicago Booth The University of Chicago DEM-Since 1993 School of Business (since 1965). Member Booth School of Business and Chair, Competitive Markets Advisory 5807 S. Woodlawn Avenue Council, Chicago Mercantile Exchange Chicago, IL 60637 (futures trading exchange) (since 1939 2004). Trustee, Harbor Fund (registered investment company) (29 Portfolios) (since 1994). Formerly, Member of the Board of Milwaukee Insurance Company (1997-2010). ------------------------------------------------------------------------------------------------------------------------ Roger G. Ibbotson DFAIDG-Since 1981 108 portfolios in 4 Professor in Practice of Finance, Yale Director of DFAIDG and DIG. DIG-Since 1993 investment companies School of Management (since 1984). Trustee of DFAITC and DEM. DFAITC-Since 1992 Chairman, CIO and Partner, Zebra Yale School of Management DEM-Since 1993 Capital Management, LLC (hedge fund and P.O. Box 208200 asset manager) (since 2001). Consultant New Haven, CT 06520-8200 to Morningstar Inc. (since 2006). 1943 Formerly, Director, BIRR Portfolio Analysis, Inc. (software products) (1990-2010). ------------------------------------------------------------------------------------------------------------------------ Edward P. Lazear DFAIDG-Since 2010 108 portfolios in 4 Morris Arnold Cox Senior Fellow, Hoover Director of DFAIDG and DIG. DIG-Since 2010 investment companies Institution (since 2002). Jack Steele Trustee of DFAITC and DEM. DFAITC-Since 2010 Parker Professor of Human Resources Stanford University Graduate DEM-Since 2010 Management and Economics, Graduate School of Business School of Business, Stanford University 518 Memorial Way (since 1995). Cornerstone Research Stanford, CA 94305-5015 (expert testimony and economic and 1948 financial analysis) (since 2009). Formerly, 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 DFAIDG-Since 1981 108 portfolios in 4 Chief Investment Strategist, Janus Director of DFAIDG and DIG. DIG-Since 1993 investment companies Capital Group Inc. (since 2014). Frank Trustee of DFAITC and DEM. DFAITC-Since 1992 E. Buck Professor of Finance Emeritus, c/o Dimensional Fund DEM-Since 1993 Graduate School of Business, Stanford Advisors, LP University (since 1981). Chairman, 6300 Bee Cave Road Ruapay Inc. (since 2013). Formerly, Building 1 Chairman, Platinum Grove Asset Austin, TX 78746 Management, L.P. (hedge fund) 1941 (formerly, Oak Hill Platinum Partners) (1999-2009). Formerly, Director, American Century Fund Complex (registered investment companies) (43 Portfolios) (1980-2014). ------------------------------------------------------------------------------------------------------------------------ Abbie J. Smith DFAIDG-Since 2000 108 portfolios in 4 Boris and Irene Stern Distinguished Director of DFAIDG and DIG. DIG-Since 2000 investment companies Service Professor of Accounting, Trustee of DFAITC and DEM. DFAITC-Since 2000 University of Chicago Booth School of The University of Chicago DEM-Since 2000 Business (since 1980). Director, HNI Booth School of Business Corporation (formerly known as HON 5807 S. Woodlawn Industries Inc.) (office furniture) Avenue Chicago, IL 60637 (since 2000). Director, Ryder System 1953 Inc. (transportation, logistics and supply-chain management) (since 2003). Trustee, UBS Funds (4 investment companies within the fund complex) (33 portfolios) (since 2009). Formerly, Co-Director Investment Research, Fundamental Investment Advisors (hedge fund) (2008-2011). ------------------------------------------------------------------------------------------------------------------------ 27 Name, Position Portfolios within the with the Fund, Address Term of Office/1/ and DFA Fund Complex/2/ Principal Occupation(s) During Past 5 Years and and Year of Birth Length of Service Overseen Other Directorships of Public Companies Held -------------------------------------------------------------------------------------------------------------------------------- Interested Trustees/Directors* -------------------------------------------------------------------------------------------------------------------------------- David G. Booth DFAIDG-Since 1981 108 portfolios in 4 Chairman, Director/Trustee, President, Co-Chief Chairman, Director/Trustee, DIG-Since 1992 investment companies Executive Officer and formerly, Chief Executive President and Co-Chief DFAITC-Since 1992 Officer (until 1/1/2010) of the following companies: Executive Officer DEM-Since 1993 Dimensional Holdings Inc., Dimensional Fund 6300 Bee Cave Road, Advisors LP, DFA Securities LLC, DEM, DFAIDG, Building One DIG and DFAITC (collectively, the "DFA Entities"). Austin, TX 78746 Director of Dimensional Fund Advisors Ltd. and 1946 formerly, Chief Investment Officer. Director of DFA Australia Limited and formerly, President and Chief Investment Officer. Director of Dimensional Advisors Ltd., Dimensional Funds plc and Dimensional Funds II plc. Formerly, President, Dimensional SmartNest (US) LLC (2009-2014). Formerly, Limited Partner, Oak Hill Partners (2001- 2010). Limited Partner, VSC Investors, LLC (since 2007). Trustee, University of Chicago. Trustee, University of Kansas Endowment Association. Formerly, Director, SA Funds (registered investment company). Chairman, Director and Co- Chief Executive Officer of Dimensional Fund Advisors Canada ULC. Director and President (since 2012) of Dimensional Japan Ltd. Chairman, Director, President and Co-Chief Executive Officer of Dimensional Cayman Commodity Fund I Ltd. (since 2010). -------------------------------------------------------------------------------------------------------------------------------- Eduardo A. Repetto DFAIDG-Since 2009 108 portfolios in 4 Co-Chief Executive Officer (beginning January Director/Trustee, Co-Chief DIG-Since 2009 investment companies 2010), Co-Chief Investment Officer (since June Executive Officer and Co- DFAITC-Since 2009 2014), Director/Trustee, and formerly, Chief Chief Investment Officer DEM-Since 2009 Investment Officer (March 2007 - June 2014) of the 6300 Bee Cave Road, DFA Entities. Director, Co-Chief Executive Officer Building One and Chief Investment Officer (since 2010) of Austin, TX 78746 Dimensional Cayman Commodity Fund I Ltd. 1967 Director, Co-Chief Executive Officer, President and Co-Chief Investment Officer of Dimensional Fund Advisors Canada ULC and formerly, Chief Investment Officer (until April 2014). Co-Chief Investment Officer, Vice President, and Director of DFA Australia Limited and formerly, Chief Investment Officer (until April 2014). Director of Dimensional Fund Advisors Ltd., Dimensional Funds plc, Dimensional Funds II plc and Dimensional Advisors Ltd. Formerly, Vice President of the DFA Entities and Dimensional Fund Advisors Canada ULC. Director and Chief Investment Officer (since December 2012) of Dimensional Japan Ltd. /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 DFAIDG, DIG; DFAITC and DEM. Each disinterested Trustee/Director also serves on the Independent Review Committee of the Dimensional Funds, mutual funds registered in the provinces of Canada and managed by an affiliate of Dimensional Fund Advisors LP (the "Advisor"), Dimensional Fund Advisors Canada ULC. * 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 the Advisor. 28 Officers Below is the name, year of birth, information regarding positions with the Funds and the principal occupation for each officer of the Funds. The address of each officer is 6300 Bee Cave Road, Building One, Austin, TX 78746. Each of the officers listed below holds the same office (except as otherwise noted) in the DFA Entities. Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation(s) During Past 5 Years ---------------------------------------------------------------------------------------------------------------------- Officers ---------------------------------------------------------------------------------------------------------------------- April A. Aandal Vice President Since 2008 Vice President of all the DFA Entities. 1963 ---------------------------------------------------------------------------------------------------------------------- Robyn G. Alcorta Vice President Since 2012 Vice President of all the DFA Entities. Formerly, Vice 1974 President, Business Development at Capson Physicians Insurance Company (2010-2012); Vice President at Charles Schwab (2007-2010). ---------------------------------------------------------------------------------------------------------------------- Darryl D. Avery Vice President Since 2005 Vice President of all the DFA Entities. 1966 ---------------------------------------------------------------------------------------------------------------------- Arthur H. Barlow Vice President Since 1993 Vice President of all the DFA Entities. Director and 1955 Managing Director of Dimensional Fund Advisors Ltd (since September 2013). ---------------------------------------------------------------------------------------------------------------------- Peter Bergan Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Senior Infrastructure Manager for Dimensional Fund Advisors LP (January 2011-January 2014); Partner at Stonehouse Consulting (2010). ---------------------------------------------------------------------------------------------------------------------- Lana Bergstein Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Client Service Manager for Dimensional Fund Advisors LP (February 2008-January 2014). ---------------------------------------------------------------------------------------------------------------------- Stanley W. Black Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1970 Senior Research Associate (January 2012-January 2014) and Research Associate (2006-2011) for Dimensional Fund Advisors LP ---------------------------------------------------------------------------------------------------------------------- Aaron T. Borders Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1973 Regional Director for Dimensional Fund Advisors LP (April 2008-January 2014). ---------------------------------------------------------------------------------------------------------------------- Scott A. Bosworth Vice President Since 2007 Vice President of all the DFA Entities. 1968 ---------------------------------------------------------------------------------------------------------------------- Valerie A. Brown Vice President and Since 2001 Vice President and Assistant Secretary of all the 1967 Assistant Secretary DFA Entities, DFA Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Cayman Commodity Fund I Ltd., Dimensional Fund Advisors Pte. and Dimensional Hong Kong Limited. Director, Vice President and Assistant Secretary of Dimensional Fund Advisors Canada ULC. ---------------------------------------------------------------------------------------------------------------------- David P. Butler Vice President Since 2007 Vice President of all the DFA Entities. Head of 1964 Global Financial Services for Dimensional Fund Advisors LP (since 2008). ---------------------------------------------------------------------------------------------------------------------- Douglas M. Byrkit Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1970 Regional Director for Dimensional Fund Advisors LP (December 2010-January 2012); Regional Director at Russell Investments (April 2006-December 2010). ---------------------------------------------------------------------------------------------------------------------- Hunt M. Cairns Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1973 Regional Director (January 2010-January 2014) and Senior Associate (July 2008-December 2009) for Dimensional Fund Advisors LP. ---------------------------------------------------------------------------------------------------------------------- James G. Charles Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1956 Regional Director for Dimensional Fund Advisors LP (2008-2010). ---------------------------------------------------------------------------------------------------------------------- 29 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------------- Joseph H. Chi Vice President Since 2009 Vice President of all the DFA Entities. Co-Head of 1966 Portfolio Management (since March 2012) and Senior Portfolio Manager (since January 2012) for Dimensional Fund Advisors LP. Formerly, Portfolio Manager for Dimensional Fund Advisors LP (October 2005 to January 2012). ------------------------------------------------------------------------------------------------------------------------- Pil Sun Choi Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1972 Counsel for Dimensional Fund Advisors LP (April 2012 - January 2014); Vice President and Counsel for AllianceBernstein L.P. (2006-2012). ------------------------------------------------------------------------------------------------------------------------- Stephen A. Clark Vice President Since 2004 Vice President of all the DFA Entities, DFA Australia 1972 Limited and Dimensional Fund Advisors Canada ULC. Head of Global Institutional Services for Dimensional Fund Advisors LP (since January 2014). Formerly, Head of Institutional, North America (March 2012 to December 2013) and Head of Portfolio Management (January 2006 to March 2012) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- Matt B. Cobb Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (September 2011-March 2013); Vice President at MullinTBG (2005-2011). ------------------------------------------------------------------------------------------------------------------------- Rose C. Cooke Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (August 2010-March 2014); Vice President, Sales and Business Development at AdvisorsIG (PPMG) (2009-2010); Vice President at Credit Suisse (2007- 2009). ------------------------------------------------------------------------------------------------------------------------- Ryan Cooper Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1979 Regional Director for Dimensional Fund Advisors LP (2003-March 2014). ------------------------------------------------------------------------------------------------------------------------- Jeffrey D. Cornell Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1976 Regional Director for Dimensional Fund Advisors LP (August 2002-January 2012). ------------------------------------------------------------------------------------------------------------------------- Robert P. Cornell Vice President Since 2007 Vice President of all the DFA Entities. 1949 ------------------------------------------------------------------------------------------------------------------------- George H. Crane Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1955 Senior Vice President and Managing Director at State Street Bank & Trust Company (2007-2008). ------------------------------------------------------------------------------------------------------------------------- Christopher S. Crossan Vice President and Since 2004 Vice President and Chief Compliance Officer of all 1965 Global Chief the DFA Entities, DFA Australia Limited, and Compliance Officer Dimensional Fund Advisors Ltd. Chief Compliance Officer of Dimensional Fund Advisors Canada. Formerly, Vice President and Chief Compliance Officer for Dimensional SmartNest (US) LLC (October 2010- 2014). ------------------------------------------------------------------------------------------------------------------------- James L. Davis Vice President Since 1999 Vice President of all the DFA Entities. 1956 ------------------------------------------------------------------------------------------------------------------------- Robert T. Deere Vice President Since 1994 Vice President of all the DFA Entities, DFA Australia 1957 Limited and Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------------- Johnathon K. DeKinder Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1979 Regional Director (January 2012-January 2014) and Senior Associate (August 2010-December 2011) for Dimensional Fund Advisors LP; MBA and MPA at the University of Texas at Austin (August 2007-May 2010). ------------------------------------------------------------------------------------------------------------------------- Peter F. Dillard Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1972 Research Associate (August 2008-March 2010) and Research Assistant (April 2006-August 2008) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- 30 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ----------------------------------------------------------------------------------------------------------------------- Robert W. Dintzner Vice President Since 2001 Vice President of all the DFA Entities. 1970 ----------------------------------------------------------------------------------------------------------------------- Karen M. Dolan Vice President Since 2014 Vice President of all the DFA Entities. Head of 1979 Marketing for Dimensional Fund Advisors LP (since February 2013). Formerly, Senior Manager of Research and Marketing for Dimensional Fund Advisors LP (June 2012-January 2013); Director of Mutual Fund Analysis at Morningstar (January 2008- May 2012). ----------------------------------------------------------------------------------------------------------------------- Richard A. Eustice Vice President and Since 1998 Vice President and Assistant Secretary of all the 1965 Assistant Secretary DFA Entities and DFA Australia Limited. Chief Operating Officer for Dimensional Fund Advisors Pte. Ltd. (since April 2013). Formerly, Chief Operating Officer for Dimensional Fund Advisors Ltd. (July 2008-March 2013). ----------------------------------------------------------------------------------------------------------------------- Gretchen A. Flicker Vice President Since 2004 Vice President of all the DFA Entities. 1971 ----------------------------------------------------------------------------------------------------------------------- Jed S. Fogdall Vice President Since 2008 Vice President of all the DFA Entities. Co-Head of 1974 Portfolio Management (since March 2012) and Senior Portfolio Manager (since January 2012) for Dimensional Fund Advisors LP. Formerly, Portfolio Manager for Dimensional Fund Advisors LP (September 2004-January 2012). ----------------------------------------------------------------------------------------------------------------------- Edward A. Foley Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1976 Regional Director for Dimensional Fund Advisors LP (August 2011-January 2014); Senior Vice President of First Trust Advisors L.P. (2007-July 2011). ----------------------------------------------------------------------------------------------------------------------- Jeremy P. Freeman Vice President Since 2009 Vice President of all the DFA Entities. 1970 ----------------------------------------------------------------------------------------------------------------------- Mark R. Gochnour Vice President Since 2007 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Tom M. Goodrum Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1968 Managing Director at BlackRock (2004-January 2012). ----------------------------------------------------------------------------------------------------------------------- Henry F. Gray Vice President Since 2000 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- John T. Gray Vice President Since 2007 Vice President of all the DFA Entities. 1974 ----------------------------------------------------------------------------------------------------------------------- Christian Gunther Vice President Since 2011 Vice President of all the DFA Entities. Senior Trader 1975 for Dimensional Fund Advisors LP (since 2012). Formerly, Senior Trader (2009-2012). ----------------------------------------------------------------------------------------------------------------------- Robert W. Hawkins Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Counsel for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President and Senior Counsel for State Street Global Advisors (November 2008-January 2011). ----------------------------------------------------------------------------------------------------------------------- Joel H. Hefner Vice President Since 2007 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Julie C. Henderson Vice President and Since 2005 Vice President and Fund Controller of all the DFA 1974 Fund Controller Entities, Dimensional Cayman Commodity Fund I Ltd. and Dimensional Japan Ltd. ----------------------------------------------------------------------------------------------------------------------- Kevin B. Hight Vice President Since 2005 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Christine W. Ho Vice President Since 2004 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Michael C. Horvath Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1960 Managing Director, Co-Head Global Consultant Relations at BlackRock (2004-2011). ----------------------------------------------------------------------------------------------------------------------- 31 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years --------------------------------------------------------------------------------------------------------------------------- Jeff J. Jeon Vice President Since 2004 Vice President of all the DFA Entities and 1973 Dimensional Cayman Commodity Fund I Ltd. --------------------------------------------------------------------------------------------------------------------------- Garret D. Jones Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1971 Manager of Sales and Marketing Systems (January 2011-January 2014) and Project Manager (2007- 2010) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Stephen W. Jones Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1968 Facilities Manager for Dimensional Fund Advisors LP (October 2008-January 2012). --------------------------------------------------------------------------------------------------------------------------- David M. Kavanaugh Vice President Since 2014 Vice President of all the DFA Entities. Head of 1978 Operations for Financial Advisor Services for Dimensional Fund Advisors LP (since July 2014). Formerly, Counsel of Dimensional Fund Advisors LP (August 2011-January 2014); Associate at Andrews Kurth LLP (2006-2011). --------------------------------------------------------------------------------------------------------------------------- Patrick M. Keating Vice President and Since 2003 Vice President of all the DFA Entities, Dimensional 1954 Chief Operating Officer Cayman Commodity Fund I Ltd., Dimensional Japan Ltd. and Dimensional Advisors Ltd. Chief Operating Officer of Dimensional Holdings Inc., DFA Securities LLC, Dimensional Fund Advisors LP, Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan Ltd., Dimensional Advisors Ltd. And Dimensional Fund Advisors Pte. Ltd. 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 Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1977 Regional Director for Dimensional Fund Advisors LP (October 2004-January 2013). --------------------------------------------------------------------------------------------------------------------------- Glenn E. Kemp Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1948 Regional Director for Dimensional Fund Advisors LP (April 2006-January 2012). --------------------------------------------------------------------------------------------------------------------------- David M. Kershner Vice President Since 2010 Vice President of all the DFA Entities. Portfolio 1971 Manager for Dimensional Fund Advisors LP (since June 2004). --------------------------------------------------------------------------------------------------------------------------- Kimberly L. Kiser Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1972 Creative Director for Dimensional Fund Advisors LP (September 2012-January 2014); Vice President and Global Creative Director at Morgan Stanley (2007-2012); Visiting Assistant Professor, Graduate Communications Design at Pratt Institute (2004-2012). --------------------------------------------------------------------------------------------------------------------------- Timothy R. Kohn Vice President Since 2011 Vice President of all the DFA Entities. Head of 1971 Defined Contribution Sales for Dimensional Fund Advisors LP (since August 2010). --------------------------------------------------------------------------------------------------------------------------- Joseph F. Kolerich Vice President Since 2004 Vice President of all the DFA Entities. Senior 1971 Portfolio Manager of Dimensional Fund Advisors LP (since January 2012). Formerly, Portfolio Manager for Dimensional (April 2001-January 2012). --------------------------------------------------------------------------------------------------------------------------- Mark D. Krasniewski Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1981 Senior Associate, Investment Analytics and Data (January 2012-December 2012) and Systems Developer (June 2007-December 2011) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Kahne L. Krause Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1966 Regional Director (May 2010-January 2014) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Stephen W. Kurad Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1968 Regional Director for Dimensional Fund Advisors LP (2007-2010). --------------------------------------------------------------------------------------------------------------------------- 32 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------------- Michael F. Lane Vice President Since 2004 Vice President of all the DFA Entities. Formerly, 1967 Chief Executive Officer for Dimensional SmartNest (US) LLC (July 2012-November 2014). ------------------------------------------------------------------------------------------------------------------------- Francis R. Lao Vice President Since 2011 Vice President of all the DFA Entities. Formerly, Vice 1969 President - Global Operations at Janus Capital Group (2005-2011). ------------------------------------------------------------------------------------------------------------------------- David F. LaRusso Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1978 Senior Trader (January 2010-December 2012) and Trader (2000-2009) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- Juliet H. Lee Vice President Since 2005 Vice President of all the DFA Entities. 1971 ------------------------------------------------------------------------------------------------------------------------- Marlena I. Lee Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1980 Research Associate for Dimensional Fund Advisors LP (July 2008-2010). ------------------------------------------------------------------------------------------------------------------------- John B. Lessley Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1960 Regional Director for Dimensional Fund Advisors LP (January 2008-January 2013). ------------------------------------------------------------------------------------------------------------------------- Apollo D. Lupescu Vice President Since 2009 Vice President of all the DFA Entities. 1969 ------------------------------------------------------------------------------------------------------------------------- Peter Magnusson Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1969 Regional Director for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President at Columbia Management (2004-2010). ------------------------------------------------------------------------------------------------------------------------- Kenneth M. Manell Vice President Since 2010 Vice President of all the DFA Entities and 1972 Dimensional Cayman Commodity Fund I Ltd. Formerly, Counsel for Dimensional Fund Advisors LP (September 2006-January 2010). ------------------------------------------------------------------------------------------------------------------------- Aaron M. Marcus Vice President Since 2008 Vice President of all DFA Entities and Head of 1970 Global Human Resources for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- David R. Martin Vice President, Chief Since 2007 Vice President, Chief Financial Officer and Treasurer 1956 Financial Officer and of all the DFA Entities. Director, Vice President, Treasurer Chief Financial Officer and Treasurer of Dimensional Fund Advisors Ltd., DFA Australia Limited, Dimensional Advisors Pte. Ltd., Dimensional Hong Kong Limited, Dimensional Fund Advisors Canada ULC, and Dimensional Cayman Commodity Fund I Ltd. Director of Dimensional Funds plc and Dimensional Funds II plc. Statutory Auditor of Dimensional Japan Ltd. Formerly, Chief Financial Officer, Treasurer and Vice President of Dimensional SmartNest (US) LLC (October 2010-November 2014). ------------------------------------------------------------------------------------------------------------------------- Bryan R. McClune Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1975 Regional Director of Dimensional Fund Advisors LP (January 2009-January 2014). ------------------------------------------------------------------------------------------------------------------------- Philip P. McInnis Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1984 Regional Director (January 2009-January 2014) and Senior Associate (2011) for Dimensional Fund Advisors LP; Investment Consultant (March 2010- December 2010) and Investment Analyst (December 2007-March 2010) at Towers Watson. ------------------------------------------------------------------------------------------------------------------------- Jonathan G. Nelson Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Manager, Investment Systems (2011-January 2013) and Project Manager (2007-2010) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- 33 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ----------------------------------------------------------------------------------------------------------------------------- Catherine L. Newell Vice President and Vice President since 1997 Vice President and Secretary of all the DFA Entities. 1964 Secretary and Secretary since 2000 Director, Vice President and Secretary 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 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). Director of 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). Formerly, Vice President and Secretary of Dimensional SmartNest (US) LLC (October 2010- November 2014). ----------------------------------------------------------------------------------------------------------------------------- Pamela B. Noble Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1964 Portfolio Manager for Dimensional Fund Advisors LP (2008-2010). ----------------------------------------------------------------------------------------------------------------------------- Selwyn Notelovitz Vice President and Since 2013 Vice President of all the DFA Entities. Deputy Chief 1961 Deputy Chief Compliance Officer of Dimensional Fund Advisors Compliance Officer LP (since December 2012). Formerly, Chief Compliance Officer of Wellington Management Company, LLP (2004-2011). ----------------------------------------------------------------------------------------------------------------------------- Carolyn L. O Vice President Since 2010 Vice President of all the DFA Entities and 1974 Dimensional Cayman Commodity Fund I Ltd. Deputy General Counsel, Funds (since 2011). Formerly, Counsel for Dimensional Fund Advisors LP (2007- 2010). ----------------------------------------------------------------------------------------------------------------------------- Gerard K. O'Reilly Vice President and Co- Vice President since 2007 Vice President and Co-Chief Investment Officer of all 1976 Chief Investment and Co-Chief Investment the DFA Entities and Dimensional Fund Advisors Officer Officer since 2014 Canada ULC. Director of Dimensional Funds plc and Dimensional Fund II plc. ----------------------------------------------------------------------------------------------------------------------------- Daniel C. Ong Vice President Since 2009 Vice President of all the DFA Entities. Portfolio 1973 Manager for Dimensional Fund Advisors LP (since July 2005). ----------------------------------------------------------------------------------------------------------------------------- Kyle K. Ozaki Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1978 Senior Compliance Officer (January 2008-January 2010) and Compliance Officer (February 2006- December 2007) for Dimensional Fund Advisors LP. ----------------------------------------------------------------------------------------------------------------------------- Matthew A. Pawlak Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1977 Regional Director for Dimensional Fund Advisors LP (2012-January 2013); Senior Consultant (June 2011- December 2011) and Senior Investment Analyst and Consultant (July 2008-June 2011) at Hewitt EnnisKnupp. ----------------------------------------------------------------------------------------------------------------------------- David A. Plecha Vice President Since 1993 Vice President of all the DFA Entities, DFA Australia 1961 Limited, Dimensional Fund Advisors Ltd. and Dimensional Fund Advisors Canada ULC. ----------------------------------------------------------------------------------------------------------------------------- Allen Pu Vice President Since 2011 Vice President of all the DFA Entities. Portfolio 1970 Manager for Dimensional Fund Advisors LP (since 2006). ----------------------------------------------------------------------------------------------------------------------------- Theodore W. Randall Vice President Since 2008 Vice President of all the DFA Entities. Formerly, 1973 Research Associate for Dimensional Fund Advisors LP (2006 to 2008). ----------------------------------------------------------------------------------------------------------------------------- David J. Rapozo Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1967 Regional Director for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President at BlackRock (2009-2010). ----------------------------------------------------------------------------------------------------------------------------- Mark A. Regier Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1969 Planning and Analysis Manager for Dimensional Fund Advisors LP (July 2007-January 2014). ----------------------------------------------------------------------------------------------------------------------------- 34 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------ Savina B. Rizova Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1981 Research Associate (June 2011-January 2012) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ L. Jacobo Rodriguez Vice President Since 2005 Vice President of all the DFA Entities. 1971 ------------------------------------------------------------------------------------------------------------------ Oliver J. Rowe Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1960 Senior Manager, Human Resources for Dimensional Fund Advisors LP (January 2012-January 2014); Director of Human Resources at Spansion, Inc. (March 2009-December 2011). ------------------------------------------------------------------------------------------------------------------ Julie A. Saft Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1959 Client Systems Manager for Dimensional Fund Advisors LP (July 2008-January 2010); Senior Manager at Vanguard (November 1997-July 2008). ------------------------------------------------------------------------------------------------------------------ Walid A. Shinnawi Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1961 Regional Director for Dimensional Fund Advisors LP (March 2006-January 2010). ------------------------------------------------------------------------------------------------------------------ Bruce A. Simmons Vice President Since 2009 Vice President of all the DFA Entities. Formerly, 1965 Investment Operations Manager for Dimensional Fund Advisors LP (May 2007-January 2009). ------------------------------------------------------------------------------------------------------------------ Ted R. Simpson Vice President Since 2007 Vice President of all the DFA Entities. 1968 ------------------------------------------------------------------------------------------------------------------ Bhanu P. Singh Vice President Since 2014 Vice President of all the DFA Entities. Portfolio 1981 Manager for Dimensional Fund Advisors LP (since January 2012). Formerly, Investment Associate for Dimensional Fund Advisors LP (August 2010- December 2011). ------------------------------------------------------------------------------------------------------------------ Bryce D. Skaff Vice President Since 2007 Vice President of all the DFA Entities. 1975 ------------------------------------------------------------------------------------------------------------------ Lukas J. Smart Vice President Since 2014 Vice President of all the DFA Entities. Portfolio 1977 Manager of Dimensional Fund Advisors LP (since January 2010). ------------------------------------------------------------------------------------------------------------------ Andrew D. Smith Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1968 Project Manager for Dimensional Fund Advisors LP (2007-2010). ------------------------------------------------------------------------------------------------------------------ Grady M. Smith Vice President Since 2004 Vice President of all the DFA Entities and 1956 Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------ Carl G. Snyder Vice President Since 2000 Vice President of all the DFA Entities. 1963 ------------------------------------------------------------------------------------------------------------------ Lawrence R. Spieth Vice President Since 2004 Vice President of all the DFA Entities. 1947 ------------------------------------------------------------------------------------------------------------------ Richard H. Tatlow V Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (April 2010-January 2013). ------------------------------------------------------------------------------------------------------------------ Blake T. Tatsuta Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1973 Manager, Investment Analytics and Data (2012- January 2013) and Research Assistant (2002-2011) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ Erik T. Totten Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1980 Regional Director (2010-January 2013) and Senior Associate (2007-2009) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ John H. Totten Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1978 Regional Director for Dimensional Fund Advisors LP (January 2008-January 2012). ------------------------------------------------------------------------------------------------------------------ Robert C. Trotter Vice President Since 2009 Vice President of all the DFA Entities. 1958 ------------------------------------------------------------------------------------------------------------------ Karen E. Umland Vice President Since 1997 Vice President of all the DFA Entities, DFA Australia 1966 Limited, Dimensional Fund Advisors Ltd., and Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------ 35 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ---------------------------------------------------------------------------------------------------------------- Benjamin C. Walker Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1979 Regional Director for Dimensional Fund Advisors LP (September 2008-January 2014). ---------------------------------------------------------------------------------------------------------------- Brian J. Walsh Vice President Since 2009 Vice President of all the DFA Entities. Portfolio 1970 Manager for Dimensional Fund Advisors LP (since 2004). ---------------------------------------------------------------------------------------------------------------- Weston J. Wellington Vice President Since 1997 Vice President of all the DFA Entities. 1951 ---------------------------------------------------------------------------------------------------------------- Ryan J. Wiley Vice President Since 2007 Vice President of all the DFA Entities. 1976 ---------------------------------------------------------------------------------------------------------------- Paul E. Wise Vice President Since 2005 Vice President of all the DFA Entities. 1955 ---------------------------------------------------------------------------------------------------------------- Joseph L. Young Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1978 Regional Director for Dimensional Fund Advisors LP (2005-2010). ---------------------------------------------------------------------------------------------------------------- /1/ Each officer holds office for an indefinite term at the pleasure of the Board of Directors and until his or her successor is elected and qualified. 36 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://us.dimensional.com and reflects the twelve-month period beginning July 1st and ending June 30th. 37 NOTICE TO SHAREHOLDERS (Unaudited) For shareholders that do not have an October 31, 2014 tax year end, this notice is for informational purposes only. For shareholders with an October 31, 2014 tax year end, please consult your tax advisor as to the pertinence of this notice. For the fiscal year November 1, 2013 to October 31, 2014, 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) ------------------------------------ ------------- ------------- ------------- ------------- ------------- ---------- CSTG&E U.S. Social Core Equity 2 Portfolio. 100% -- -- 100% 100% 100% CSTG&E International Social Core Equity 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) ------------------------------------ ---------- ---------- ---------- ---------- CSTG&E U.S. Social Core Equity 2 Portfolio. -- -- 100% 100% CSTG&E International Social Core Equity Portfolio................................. 5% 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. (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). 38 [LOGO] DFA103114-015A [LOGO] ANNUAL REPORT year ended: October 31, 2014 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 2014 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 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 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.......................... 72 Notice to Shareholders............................................... 73 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 P.L.C. Public Limited Company GBP British Pounds SGD Singapore 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. (r) The adjustable rate shown is effective as of October 31, 2014. ## 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, 2004-October 31, 2014 [CHART] VA U.S. Targeted Value Portfolio Russell 2000/R/ Value Index -------------------------------- --------------------------- 10/31/2004 $10,000 $10,000 11/30/2004 10,978 10,887 12/31/2004 11,364 11,147 1/31/2005 10,914 10,716 2/28/2005 11,176 10,929 3/31/2005 10,951 10,704 4/30/2005 10,144 10,152 5/31/2005 10,813 10,771 6/30/2005 11,270 11,247 7/31/2005 12,047 11,887 8/31/2005 11,829 11,614 9/30/2005 11,865 11,595 10/31/2005 11,517 11,304 11/30/2005 12,033 11,762 12/31/2005 12,041 11,672 1/31/2006 13,091 12,637 2/28/2006 13,075 12,636 3/31/2006 13,766 13,248 4/30/2006 13,866 13,284 5/31/2006 13,225 12,734 6/30/2006 13,258 12,890 7/31/2006 12,800 12,711 8/31/2006 13,116 13,091 9/30/2006 13,266 13,219 10/31/2006 13,966 13,892 11/30/2006 14,358 14,288 12/31/2006 14,566 14,412 1/31/2007 14,815 14,628 2/28/2007 14,729 14,449 3/31/2007 14,825 14,623 4/30/2007 14,998 14,775 5/31/2007 15,506 15,316 6/30/2007 15,228 14,959 7/31/2007 13,980 13,686 8/31/2007 13,904 13,960 9/30/2007 13,865 14,023 10/31/2007 13,875 14,176 11/30/2007 12,714 13,114 12/31/2007 12,533 13,003 1/31/2008 12,044 12,470 2/29/2008 11,587 11,974 3/31/2008 11,682 12,155 4/30/2008 11,788 12,539 5/31/2008 12,171 12,968 6/30/2008 10,800 11,724 7/31/2008 11,098 12,325 8/31/2008 11,640 12,910 9/30/2008 10,927 12,305 10/31/2008 8,642 9,847 11/30/2008 7,483 8,707 12/31/2008 7,903 9,242 1/31/2009 6,704 7,922 2/28/2009 5,788 6,822 3/31/2009 6,388 7,427 4/30/2009 7,598 8,606 5/31/2009 7,860 8,792 6/30/2009 7,881 8,764 7/31/2009 8,819 9,778 8/31/2009 9,190 10,240 9/30/2009 9,647 10,754 10/31/2009 9,015 10,040 11/30/2009 9,299 10,359 12/31/2009 10,007 11,144 1/31/2010 9,743 10,817 2/28/2010 10,293 11,319 3/31/2010 11,086 12,260 4/30/2010 11,901 13,118 5/31/2010 10,932 12,010 6/30/2010 9,985 10,961 7/31/2010 10,767 11,744 8/31/2010 9,941 10,861 9/30/2010 11,075 12,027 10/31/2010 11,449 12,493 11/30/2010 11,868 12,810 12/31/2010 12,916 13,875 1/31/2011 12,960 13,882 2/28/2011 13,625 14,587 3/31/2011 13,880 14,790 4/30/2011 14,123 15,030 5/31/2011 13,813 14,761 6/30/2011 13,570 14,398 7/31/2011 13,138 13,922 8/31/2011 11,908 12,692 9/30/2011 10,568 11,306 10/31/2011 12,130 12,935 11/30/2011 12,163 12,909 12/31/2011 12,329 13,111 1/31/2012 13,099 13,983 2/29/2012 13,524 14,191 3/31/2012 13,870 14,631 4/30/2012 13,635 14,419 5/31/2012 12,675 13,538 6/30/2012 13,166 14,191 7/31/2012 13,099 14,046 8/31/2012 13,680 14,479 9/30/2012 14,138 14,995 10/31/2012 14,048 14,807 11/30/2012 14,305 14,852 12/31/2012 14,809 15,478 1/31/2013 15,817 16,401 2/28/2013 16,123 16,588 3/31/2013 16,916 17,278 4/30/2013 16,780 17,262 5/31/2013 17,618 17,777 6/30/2013 17,550 17,705 7/31/2013 18,819 18,843 8/31/2013 18,151 18,010 9/30/2013 19,148 19,049 10/31/2013 19,975 19,669 11/30/2013 20,882 20,436 12/31/2013 21,417 20,821 1/31/2014 20,435 20,016 2/28/2014 21,542 20,932 3/31/2014 21,965 21,191 4/30/2014 21,577 20,646 5/31/2014 21,771 20,777 6/30/2014 22,707 21,696 7/31/2014 21,577 20,384 8/31/2014 22,684 21,270 9/30/2014 21,291 19,835 10/31/2014 22,010 21,221 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 Russell data copyright (C) Russell ---------------------------------------------------------------- Investment Group 1995-2014, all rights 10.19% 19.54% 8.21% reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- VA U.S. LARGE VALUE PORTFOLIO VS. RUSSELL 1000(R) VALUE INDEX October 31, 2004-October 31, 2014 [CHART] VA U.S. Large Value Portfolio Russell 1000/R/ Value Index ----------------------------- --------------------------- 10/31/2004 $10,000 $10,000 11/30/2004 10,668 10,506 12/31/2004 11,097 10,858 1/31/2005 10,802 10,665 2/28/2005 11,132 11,018 3/31/2005 11,097 10,867 4/30/2005 10,716 10,672 5/31/2005 11,161 10,929 6/30/2005 11,391 11,049 7/31/2005 11,936 11,368 8/31/2005 11,850 11,319 9/30/2005 12,037 11,478 10/31/2005 11,692 11,186 11/30/2005 12,152 11,552 12/31/2005 12,171 11,621 1/31/2006 12,769 12,072 2/28/2006 12,709 12,146 3/31/2006 12,943 12,311 4/30/2006 13,292 12,624 5/31/2006 13,080 12,305 6/30/2006 13,178 12,383 7/31/2006 12,996 12,684 8/31/2006 13,208 12,897 9/30/2006 13,549 13,154 10/31/2006 14,057 13,584 11/30/2006 14,307 13,894 12/31/2006 14,582 14,206 1/31/2007 14,998 14,388 2/28/2007 14,802 14,164 3/31/2007 14,908 14,383 4/30/2007 15,520 14,914 5/31/2007 16,149 15,452 6/30/2007 15,888 15,091 7/31/2007 14,941 14,393 8/31/2007 14,647 14,554 9/30/2007 15,023 15,054 10/31/2007 15,080 15,056 11/30/2007 14,239 14,320 12/31/2007 14,153 14,182 1/31/2008 13,649 13,614 2/29/2008 13,202 13,043 3/31/2008 13,053 12,945 4/30/2008 13,863 13,577 5/31/2008 14,169 13,555 6/30/2008 12,590 12,257 7/31/2008 12,590 12,213 8/31/2008 12,822 12,421 9/30/2008 11,747 11,508 10/31/2008 9,176 9,516 11/30/2008 8,267 8,834 12/31/2008 8,506 8,956 1/31/2009 7,448 7,926 2/28/2009 6,390 6,867 3/31/2009 7,013 7,455 4/30/2009 8,182 8,254 5/31/2009 8,822 8,764 6/30/2009 8,719 8,699 7/31/2009 9,555 9,411 8/31/2009 10,195 9,904 9/30/2009 10,630 10,286 10/31/2009 10,187 9,971 11/30/2009 10,758 10,533 12/31/2009 11,052 10,720 1/31/2010 10,800 10,418 2/28/2010 11,260 10,747 3/31/2010 12,137 11,447 4/30/2010 12,519 11,743 5/31/2010 11,460 10,778 6/30/2010 10,600 10,171 7/31/2010 11,425 10,860 8/31/2010 10,748 10,395 9/30/2010 11,807 11,201 10/31/2010 12,232 11,538 11/30/2010 12,154 11,476 12/31/2010 13,331 12,382 1/31/2011 13,764 12,662 2/28/2011 14,506 13,129 3/31/2011 14,559 13,181 4/30/2011 14,929 13,532 5/31/2011 14,718 13,389 6/30/2011 14,444 13,115 7/31/2011 13,773 12,680 8/31/2011 12,625 11,888 9/30/2011 11,327 10,990 10/31/2011 12,890 12,248 11/30/2011 12,775 12,185 12/31/2011 12,875 12,430 1/31/2012 13,513 12,901 2/29/2012 14,295 13,415 3/31/2012 14,565 13,813 4/30/2012 14,250 13,672 5/31/2012 13,234 12,870 6/30/2012 13,917 13,509 7/31/2012 14,052 13,649 8/31/2012 14,619 13,945 9/30/2012 15,149 14,388 10/31/2012 15,194 14,317 11/30/2012 15,221 14,311 12/31/2012 15,700 14,607 1/31/2013 16,816 15,556 2/28/2013 16,990 15,779 3/31/2013 17,805 16,405 4/30/2013 18,006 16,653 5/31/2013 18,803 17,080 6/30/2013 18,528 16,929 7/31/2013 19,663 17,844 8/31/2013 19,078 17,167 9/30/2013 19,654 17,597 10/31/2013 20,670 18,367 11/30/2013 21,540 18,880 12/31/2013 22,108 19,358 1/31/2014 21,229 18,670 2/28/2014 21,987 19,478 3/31/2014 22,482 19,943 4/30/2014 22,623 20,132 5/31/2014 23,108 20,427 6/30/2014 23,755 20,961 Past performance is not predictive of 7/31/2014 23,533 20,603 future performance. 8/31/2014 24,280 21,361 The returns shown do not reflect the 9/30/2014 23,583 20,920 deduction of taxes that a shareholder 10/31/2014 23,715 21,390 would pay on fund distributions or the Average Annual One Five Ten redemption of fund shares. Total Return Year Years Years Russell data copyright (C) Russell ---------------------------------------------------------------- Investment Group 1995-2014, all rights 14.73% 18.41% 9.02% reserved. -------------------------------------------------------------------------------- 2 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- VA INTERNATIONAL VALUE PORTFOLIO VS. MSCI WORLD EX USA INDEX (NET DIVIDENDS) October 31, 2004-October 31, 2014 [CHARTS] VA International MSCI World ex USA Value Portfolio Index (net dividends) ----------------- ------------------- 10/31/2004 $10,000 $10,000 11/30/2004 10,747 10,665 12/31/2004 11,305 11,116 1/31/2005 11,220 10,897 2/28/2005 11,624 11,382 3/31/2005 11,329 11,123 4/30/2005 11,018 10,840 5/31/2005 11,025 10,859 6/30/2005 11,212 11,037 7/31/2005 11,710 11,393 8/31/2005 12,122 11,708 9/30/2005 12,519 12,242 10/31/2005 12,301 11,847 11/30/2005 12,511 12,160 12/31/2005 13,164 12,724 1/31/2006 14,067 13,529 2/28/2006 14,184 13,483 3/31/2006 14,795 13,911 4/30/2006 15,539 14,576 5/31/2006 14,920 14,022 6/30/2006 14,811 14,004 7/31/2006 15,071 14,136 8/31/2006 15,564 14,537 9/30/2006 15,773 14,526 10/31/2006 16,484 15,100 11/30/2006 17,036 15,549 12/31/2006 17,702 15,995 1/31/2007 18,048 16,093 2/28/2007 18,003 16,222 3/31/2007 18,604 16,637 4/30/2007 19,526 17,394 5/31/2007 20,191 17,781 6/30/2007 20,100 17,798 7/31/2007 19,507 17,552 8/31/2007 19,261 17,298 9/30/2007 20,292 18,281 10/31/2007 21,313 19,076 11/30/2007 20,045 18,330 12/31/2007 19,605 17,985 1/31/2008 17,961 16,364 2/29/2008 17,692 16,660 3/31/2008 17,961 16,422 4/30/2008 18,767 17,335 5/31/2008 18,716 17,598 6/30/2008 16,834 16,230 7/31/2008 16,430 15,652 8/31/2008 15,738 15,047 9/30/2008 14,094 12,874 10/31/2008 10,547 10,196 11/30/2008 9,927 9,643 12/31/2008 10,625 10,152 1/31/2009 9,164 9,204 2/28/2009 8,031 8,273 3/31/2009 8,824 8,818 4/30/2009 10,448 9,955 5/31/2009 12,022 11,214 6/30/2009 11,833 11,098 7/31/2009 13,243 12,140 8/31/2009 13,973 12,722 9/30/2009 14,703 13,247 10/31/2009 14,124 13,034 11/30/2009 14,514 13,356 12/31/2009 14,655 13,569 1/31/2010 13,829 12,933 2/28/2010 13,894 12,920 3/31/2010 14,991 13,752 4/30/2010 14,759 13,547 5/31/2010 13,067 12,052 6/30/2010 12,706 11,878 7/31/2010 14,333 12,976 8/31/2010 13,610 12,588 9/30/2010 15,069 13,795 10/31/2010 15,585 14,287 11/30/2010 14,810 13,682 12/31/2010 16,198 14,783 1/31/2011 16,923 15,102 2/28/2011 17,529 15,662 3/31/2011 17,002 15,348 4/30/2011 17,872 16,184 5/31/2011 17,213 15,704 6/30/2011 16,936 15,480 7/31/2011 16,435 15,225 8/31/2011 14,617 13,938 9/30/2011 13,022 12,538 10/31/2011 14,327 13,758 11/30/2011 13,839 13,122 12/31/2011 13,453 12,979 1/31/2012 14,426 13,679 2/29/2012 15,208 14,431 3/31/2012 15,043 14,325 4/30/2012 14,454 14,081 5/31/2012 12,671 12,476 6/30/2012 13,631 13,294 7/31/2012 13,521 13,459 8/31/2012 14,125 13,843 9/30/2012 14,632 14,263 10/31/2012 14,838 14,363 11/30/2012 15,016 14,665 12/31/2012 15,738 15,109 1/31/2013 16,502 15,852 2/28/2013 15,978 15,694 3/31/2013 16,021 15,818 4/30/2013 16,728 16,539 5/31/2013 16,530 16,168 6/30/2013 15,893 15,563 7/31/2013 16,969 16,391 8/31/2013 16,842 16,180 9/30/2013 18,101 17,323 10/31/2013 18,710 17,904 11/30/2013 18,780 18,014 12/31/2013 19,145 18,285 1/31/2014 18,463 17,547 2/28/2014 19,508 18,505 3/31/2014 19,377 18,422 4/30/2014 19,711 18,712 5/31/2014 19,929 19,002 6/30/2014 20,176 19,272 7/31/2014 19,697 18,928 Past performance is not predictive of 8/31/2014 19,711 18,943 future performance. 9/30/2014 18,840 18,165 The returns shown do not reflect the 10/31/2014 18,492 17,877 deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. ----------------------------------------------------- MSCI data copyright MSCI 2014, all -1.16% 5.54% 6.34% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- VA INTERNATIONAL SMALL PORTFOLIO VS. MSCI WORLD EX USA SMALL CAP INDEX (NET DIVIDENDS) October 31, 2004-October 31, 2014 [CHARTS] VA International MSCI World ex USA Small Portfolio Small Cap Index(net dividends) ----------------- ------------------------------ 10/31/2004 $10,000 $10,000 11/30/2004 10,737 10,800 12/31/2004 11,253 11,303 1/31/2005 11,472 11,477 2/28/2005 11,939 11,965 3/31/2005 11,731 11,770 4/30/2005 11,403 11,439 5/31/2005 11,253 11,466 6/30/2005 11,552 11,770 7/31/2005 12,009 12,281 8/31/2005 12,516 12,658 9/30/2005 12,854 13,171 10/31/2005 12,615 12,691 11/30/2005 12,854 13,114 12/31/2005 13,706 14,134 1/31/2006 14,692 15,141 2/28/2006 14,658 14,951 3/31/2006 15,353 15,654 4/30/2006 16,047 16,383 5/31/2006 15,229 15,477 6/30/2006 14,949 15,101 7/31/2006 14,770 14,732 8/31/2006 15,173 15,162 9/30/2006 15,263 15,122 10/31/2006 15,834 15,722 11/30/2006 16,528 16,398 12/31/2006 17,109 16,884 1/31/2007 17,561 17,228 2/28/2007 17,854 17,530 3/31/2007 18,502 18,112 4/30/2007 19,186 18,810 5/31/2007 19,614 19,088 6/30/2007 19,565 19,046 7/31/2007 19,528 18,929 8/31/2007 18,759 17,931 9/30/2007 19,211 18,336 10/31/2007 20,347 19,574 11/30/2007 18,832 17,964 12/31/2007 18,238 17,438 1/31/2008 16,831 15,748 2/29/2008 17,259 16,496 3/31/2008 17,286 16,313 4/30/2008 17,659 16,710 5/31/2008 18,169 17,048 6/30/2008 16,872 15,732 7/31/2008 16,086 14,938 8/31/2008 15,493 14,386 9/30/2008 13,147 11,855 10/31/2008 10,112 8,929 11/30/2008 9,657 8,496 12/31/2008 10,418 9,063 1/31/2009 9,565 8,536 2/28/2009 8,635 7,757 3/31/2009 9,178 8,255 4/30/2009 10,464 9,527 5/31/2009 11,937 10,937 6/30/2009 12,046 11,069 7/31/2009 12,945 11,958 8/31/2009 13,813 12,880 9/30/2009 14,619 13,604 10/31/2009 14,263 13,394 11/30/2009 14,449 13,498 12/31/2009 14,571 13,669 1/31/2010 14,366 13,489 2/28/2010 14,287 13,412 3/31/2010 15,377 14,409 4/30/2010 15,599 14,693 5/31/2010 13,797 12,928 6/30/2010 13,718 12,807 7/31/2010 15,014 13,905 8/31/2010 14,524 13,544 9/30/2010 16,152 15,080 10/31/2010 16,784 15,702 11/30/2010 16,326 15,290 12/31/2010 18,185 17,019 1/31/2011 18,363 17,108 2/28/2011 18,911 17,595 3/31/2011 18,927 17,578 4/30/2011 19,846 18,450 5/31/2011 19,314 17,939 6/30/2011 18,975 17,551 7/31/2011 18,766 17,455 8/31/2011 17,347 16,076 9/30/2011 15,348 14,231 10/31/2011 16,444 15,386 11/30/2011 15,944 14,613 12/31/2011 15,490 14,329 1/31/2012 16,778 15,512 2/29/2012 17,648 16,391 3/31/2012 17,770 16,282 4/30/2012 17,579 16,197 5/31/2012 15,560 14,294 6/30/2012 16,186 14,787 7/31/2012 16,117 14,901 8/31/2012 16,656 15,329 9/30/2012 17,335 16,056 10/31/2012 17,439 16,134 11/30/2012 17,613 16,217 12/31/2012 18,497 16,833 1/31/2013 19,259 17,643 2/28/2013 19,277 17,706 3/31/2013 19,622 18,051 4/30/2013 20,111 18,575 5/31/2013 19,658 18,139 6/30/2013 19,187 17,422 7/31/2013 20,420 18,511 8/31/2013 20,347 18,478 9/30/2013 22,034 20,029 10/31/2013 22,759 20,621 11/30/2013 22,868 20,648 12/31/2013 23,505 21,134 1/31/2014 23,122 20,769 2/28/2014 24,576 21,946 3/31/2014 24,518 21,864 4/30/2014 24,480 21,796 5/31/2014 24,690 22,069 6/30/2014 25,149 22,570 7/31/2014 24,346 21,985 8/31/2014 24,499 22,039 9/30/2014 23,026 20,704 Past performance is not predictive of 10/31/2014 22,625 20,180 future performance. The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. ------------------------------------------------------------- MSCI data copyright MSCI 2014, all -0.59% 9.67% 8.51% 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, 2004-October 31, 2014 [CHARTS] The BofA Merrill The BofA Merrill VA Short-Term Lynch U.S. 6-Month Lynch U.S. 1-Year Fixed Portfolio Treasury Bill Index Treasury Note Index --------------- ------------------- ------------------- 10/31/2004 $10,000 $10,000 $10,000 11/30/2004 9,990 10,009 9,985 12/31/2004 9,999 10,023 10,001 1/31/2005 10,009 10,042 10,009 2/28/2005 10,009 10,055 10,009 3/31/2005 10,009 10,078 10,023 4/30/2005 10,049 10,105 10,059 5/31/2005 10,078 10,137 10,089 6/30/2005 10,098 10,157 10,107 7/31/2005 10,098 10,175 10,106 8/31/2005 10,138 10,207 10,149 9/30/2005 10,138 10,232 10,152 10/31/2005 10,158 10,261 10,165 11/30/2005 10,188 10,297 10,196 12/31/2005 10,217 10,334 10,237 1/31/2006 10,247 10,365 10,260 2/28/2006 10,278 10,395 10,286 3/31/2006 10,309 10,434 10,315 4/30/2006 10,339 10,472 10,348 5/31/2006 10,380 10,512 10,374 6/30/2006 10,410 10,548 10,400 7/31/2006 10,461 10,599 10,460 8/31/2006 10,512 10,647 10,514 9/30/2006 10,553 10,696 10,562 10/31/2006 10,594 10,737 10,605 11/30/2006 10,645 10,782 10,648 12/31/2006 10,690 10,831 10,679 1/31/2007 10,732 10,875 10,719 2/28/2007 10,774 10,919 10,774 3/31/2007 10,827 10,968 10,816 4/30/2007 10,870 11,015 10,852 5/31/2007 10,912 11,068 10,887 6/30/2007 10,954 11,112 10,940 7/31/2007 11,007 11,157 11,002 8/31/2007 11,049 11,237 11,084 9/30/2007 11,092 11,284 11,143 10/31/2007 11,145 11,329 11,177 11/30/2007 11,176 11,406 11,289 12/31/2007 11,221 11,439 11,314 1/31/2008 11,266 11,534 11,459 2/29/2008 11,299 11,565 11,518 3/31/2008 11,299 11,595 11,554 4/30/2008 11,332 11,609 11,531 5/31/2008 11,354 11,609 11,527 6/30/2008 11,376 11,624 11,533 7/31/2008 11,410 11,661 11,570 8/31/2008 11,432 11,685 11,603 9/30/2008 11,399 11,739 11,655 10/31/2008 11,454 11,787 11,722 11/30/2008 11,554 11,827 11,796 12/31/2008 11,665 11,848 11,851 1/31/2009 11,677 11,847 11,839 2/28/2009 11,665 11,849 11,820 3/31/2009 11,711 11,861 11,849 4/30/2009 11,757 11,876 11,873 5/31/2009 11,791 11,881 11,882 6/30/2009 11,814 11,884 11,888 7/31/2009 11,825 11,893 11,903 8/31/2009 11,859 11,901 11,918 9/30/2009 11,871 11,907 11,927 10/31/2009 11,894 11,911 11,940 11/30/2009 11,916 11,916 11,961 12/31/2009 11,883 11,917 11,945 1/31/2010 11,918 11,923 11,973 2/28/2010 11,929 11,924 11,978 3/31/2010 11,918 11,925 11,974 4/30/2010 11,929 11,928 11,981 5/31/2010 11,929 11,934 11,988 6/30/2010 11,964 11,937 12,006 7/31/2010 11,988 11,942 12,019 8/31/2010 11,999 11,947 12,030 9/30/2010 12,011 11,950 12,035 10/31/2010 12,023 11,955 12,044 11/30/2010 12,011 11,956 12,041 12/31/2010 12,015 11,960 12,044 1/31/2011 12,027 11,963 12,055 2/28/2011 12,027 11,965 12,059 3/31/2011 12,027 11,968 12,063 4/30/2011 12,050 11,974 12,075 5/31/2011 12,062 11,976 12,083 6/30/2011 12,062 11,979 12,086 7/31/2011 12,074 11,978 12,083 8/31/2011 12,074 11,987 12,104 9/30/2011 12,074 11,987 12,102 10/31/2011 12,074 11,989 12,106 11/30/2011 12,062 11,990 12,110 12/31/2011 12,067 11,992 12,113 1/31/2012 12,102 11,992 12,116 2/29/2012 12,102 11,991 12,113 3/31/2012 12,114 11,993 12,113 4/30/2012 12,126 11,994 12,118 5/31/2012 12,126 11,997 12,121 6/30/2012 12,138 11,999 12,117 7/31/2012 12,150 12,002 12,129 8/31/2012 12,161 12,004 12,131 9/30/2012 12,161 12,006 12,134 10/31/2012 12,161 12,006 12,133 11/30/2012 12,173 12,009 12,138 12/31/2012 12,168 12,012 12,142 1/31/2013 12,180 12,014 12,144 2/28/2013 12,180 12,015 12,147 3/31/2013 12,180 12,018 12,151 4/30/2013 12,192 12,021 12,156 5/31/2013 12,192 12,022 12,157 6/30/2013 12,180 12,023 12,155 7/31/2013 12,192 12,026 12,163 8/31/2013 12,180 12,028 12,165 9/30/2013 12,204 12,031 12,171 10/31/2013 12,204 12,030 12,171 11/30/2013 12,204 12,031 12,171 12/31/2013 12,199 12,034 12,173 1/31/2014 12,211 12,037 12,176 2/28/2014 12,211 12,038 12,178 3/31/2014 12,211 12,039 12,182 4/30/2014 12,223 12,041 12,187 5/31/2014 12,223 12,041 12,190 6/30/2014 12,223 12,042 12,191 7/31/2014 12,223 12,043 12,193 Past performance is not predictive of 8/31/2014 12,223 12,045 12,200 future performance. 9/30/2014 12,223 12,047 12,203 The returns shown do not reflect the 10/31/2014 12,235 12,046 12,205 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 2014 Merrill -------------------------------------------------------------- Lynch, Pierce, Fenner & Smith 0.25% 0.57% 2.04% Incorporated; all rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- VA GLOBAL BOND PORTFOLIO VS. CITIGROUP WORLD GOVERNMENT BOND INDEX, 1-5 YEARS, CURRENCY-HEDGED IN USD TERMS October 31, 2004-October 31, 2014 [CHARTS] VA Global Bond Citigroup World Government Bond Index, Portfolio 1-5 Years,Currency-Hedged in USD Terms ----------- -------------------------------------- 10/31/2004 $10,000 $10,000 11/30/2004 9,915 10,016 12/31/2004 9,978 10,040 1/31/2005 9,987 10,073 2/28/2005 9,939 10,063 3/31/2005 9,901 10,093 4/30/2005 10,026 10,167 5/31/2005 10,112 10,218 6/30/2005 10,179 10,268 7/31/2005 10,112 10,249 8/31/2005 10,208 10,301 9/30/2005 10,141 10,286 10/31/2005 10,093 10,276 11/30/2005 10,112 10,309 12/31/2005 10,145 10,349 1/31/2006 10,155 10,366 2/28/2006 10,165 10,377 3/31/2006 10,135 10,368 4/30/2006 10,145 10,395 5/31/2006 10,205 10,434 6/30/2006 10,215 10,457 7/31/2006 10,286 10,534 8/31/2006 10,376 10,626 9/30/2006 10,416 10,674 10/31/2006 10,456 10,711 11/30/2006 10,507 10,765 12/31/2006 10,524 10,772 1/31/2007 10,574 10,810 2/28/2007 10,624 10,881 3/31/2007 10,665 10,916 4/30/2007 10,705 10,950 5/31/2007 10,735 10,938 6/30/2007 10,756 10,966 7/31/2007 10,816 11,061 8/31/2007 10,887 11,178 9/30/2007 10,927 11,239 10/31/2007 10,997 11,296 11/30/2007 11,038 11,419 12/31/2007 11,093 11,451 1/31/2008 11,155 11,623 2/29/2008 11,217 11,699 3/31/2008 11,237 11,696 4/30/2008 11,145 11,619 5/31/2008 11,104 11,553 6/30/2008 11,145 11,553 7/31/2008 11,206 11,638 8/31/2008 11,278 11,711 9/30/2008 11,206 11,786 10/31/2008 11,278 11,957 11/30/2008 11,443 12,086 12/31/2008 11,588 12,206 1/31/2009 11,577 12,212 2/28/2009 11,566 12,236 3/31/2009 11,598 12,300 4/30/2009 11,652 12,302 5/31/2009 11,726 12,307 6/30/2009 11,790 12,327 7/31/2009 11,907 12,372 8/31/2009 12,024 12,415 9/30/2009 12,109 12,454 10/31/2009 12,173 12,466 11/30/2009 12,322 12,533 12/31/2009 12,146 12,486 1/31/2010 12,301 12,534 2/28/2010 12,378 12,586 3/31/2010 12,367 12,581 4/30/2010 12,456 12,587 5/31/2010 12,533 12,669 6/30/2010 12,644 12,701 7/31/2010 12,810 12,747 8/31/2010 12,966 12,808 9/30/2010 13,010 12,798 10/31/2010 13,099 12,811 11/30/2010 12,977 12,748 12/31/2010 12,817 12,734 1/31/2011 12,841 12,725 2/28/2011 12,829 12,713 3/31/2011 12,841 12,705 4/30/2011 13,008 12,743 5/31/2011 13,152 12,805 6/30/2011 13,152 12,812 7/31/2011 13,354 12,857 8/31/2011 13,450 12,969 9/30/2011 13,426 12,973 10/31/2011 13,462 12,955 11/30/2011 13,295 12,929 12/31/2011 13,396 13,028 1/31/2012 13,546 13,085 2/29/2012 13,571 13,107 3/31/2012 13,608 13,096 4/30/2012 13,658 13,122 5/31/2012 13,746 13,134 6/30/2012 13,746 13,147 7/31/2012 13,921 13,191 8/31/2012 13,959 13,225 9/30/2012 13,984 13,249 10/31/2012 13,996 13,257 11/30/2012 14,047 13,291 12/31/2012 14,046 13,302 1/31/2013 13,969 13,291 2/28/2013 14,072 13,322 3/31/2013 14,098 13,335 4/30/2013 14,162 13,378 5/31/2013 14,046 13,333 6/30/2013 13,879 13,291 7/31/2013 13,956 13,328 8/31/2013 13,879 13,309 9/30/2013 13,995 13,355 10/31/2013 14,085 13,399 11/30/2013 14,111 13,420 12/31/2013 13,997 13,385 1/31/2014 14,142 13,442 2/28/2014 14,168 13,461 3/31/2014 14,102 13,458 4/30/2014 14,168 13,482 5/31/2014 14,286 13,521 6/30/2014 14,260 13,536 7/31/2014 14,220 13,538 8/31/2014 14,312 13,577 9/30/2014 14,260 13,575 10/31/2014 14,352 13,607 Past performance is not predictive of future performance. The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. ----------------------------------------------------------- Citigroup bond indices copyright 2014 1.90% 3.35% 3.68% 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, 2014 [CHART] Citigroup World 65% MSCI ACWI Government Bond (net dividends/35% VA Global MSCI All Country Index,1-3 Years, Citigroup World Moderate World Index Currency-Hedged Govt Bond Index Portfolio (Net Dividends) in USD Terms 1-3 yr(hedged)Index --------- ---------------- ---------------- ------------------- 4/8/2013 $10,000 $10,000 $10,000 $10,000 4/30/2013 10,150 10,365 10,012 10,242 5/31/2013 10,200 10,337 10,001 10,219 6/30/2013 10,020 10,035 9,990 10,021 7/31/2013 10,410 10,515 10,008 10,340 8/31/2013 10,210 10,296 10,004 10,198 9/30/2013 10,620 10,828 10,023 10,547 10/31/2013 10,910 11,263 10,042 10,830 11/30/2013 11,050 11,423 10,054 10,934 Past performance is not predictive of 12/31/2013 11,195 11,620 10,046 11,054 future performance. 1/31/2014 10,931 11,155 10,067 10,774 The returns shown do not reflect the 2/28/2014 11,307 11,694 10,074 11,115 deduction of taxes that a shareholder 3/31/2014 11,368 11,746 10,074 11,147 would pay on fund distributions or the 4/30/2014 11,398 11,857 10,083 11,220 redemption of fund shares. 5/31/2014 11,550 12,110 10,098 11,381 MSCI data copyright MSCI 2014, all 6/30/2014 11,743 12,338 10,104 11,522 rights reserved. 7/31/2014 11,550 12,188 10,106 11,432 Citigroup bond indices copyright 2014 8/31/2014 11,784 12,457 10,121 11,602 by Citigroup. 9/30/2014 11,449 12,053 10,121 11,358 Data includes composite data from 10/31/2014 11,550 12,138 10,135 11,415 multiple sources; see data descriptions One Since for additional details. MSCI data Total Return Year Inception copyright MSCI 2014, all rights reserved. ----------------------------------------------------------- Citigroup bond indices copyright 2014 5.87% 9.65% by Citigroup. -------------------------------------------------------------------------------- 5 DFA INVESTMENT DIMENSIONS GROUP INC. MANAGEMENT'S DISCUSSION AND ANALYSIS (Unaudited) U.S. Equity Market Review 12 Months Ended October 31, 2014 U.S. equities had strong gains during the period. The broad U.S. equity market, as measured by the Russell 3000(R) Index, had positive returns in 9 of the 12 months. As measured by the Russell indices, large cap stocks outperformed small cap stocks. Total Return for 12 Months Ended October 31, 2014 ------------------------------------------------- Russell 3000(R) Index........................ 16.07% Russell Microcap(R) Index (micro cap stocks). 7.34% Russell 2000(R) Index (small cap stocks)..... 8.06% Russell 1000(R) Index (large cap stocks)..... 16.78% Dow Jones U.S. Select REIT Index/SM/......... 20.69% Growth stocks slightly outperformed value stocks as measured by the Russell indices. Total Return for 12 Months Ended October 31, 2014 ------------------------------------------------- Russell 2000(R) Value Index (small cap value stocks)... 7.89% Russell 2000(R) Growth Index (small cap growth stocks). 8.26% Russell 1000(R) Value Index (large cap value stocks)... 16.46% Russell 1000(R) Growth Index (large cap growth stocks). 17.11% ---------- Source: Russell data copyright (C) Russell Investment Group 1995-2014, 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 period 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 is designed 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, 2014, the Portfolio held approximately 1,320 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, 2014, total returns were 10.19% for the Portfolio and 7.89% for the Russell 2000(R) Value Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad trends in the U.S. equity market, rather than the behavior of a limited number of stocks. Mid-cap value stocks significantly outperformed small cap value stocks during the period. The Portfolio had a greater weight than the Index in mid-cap value stocks and less weight in small cap value stocks, and these differences were the primary driver of the Portfolio's relative outperformance. 6 VA U.S. Large Value Portfolio The VA U.S. Large Value Portfolio is designed 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, 2014, the Portfolio held approximately 260 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, 2014, total returns were 14.73% for the Portfolio and 16.46% for the Russell 1000(R) Value Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad trends in the U.S. equity market rather than the behavior of a limited number of stocks. The Portfolio excludes real estate investment trusts (REITs) and highly regulated utilities from eligibility while the Index holds stocks in these sectors. REITs and utilities generally outperformed other sectors during the period, which contributed to the Portfolio's relative underperformance as compared to the index. Lower book to market stocks outperformed higher book to market stocks within the index. The VA U.S. Large Value Portfolio had less weight than the index in lower book to market stocks, which detracted from relative performance. International Equity Market Review 12 Months Ended October 31, 2014 Performance of non-U.S. developed markets was generally negative for the period. Only large cap growth stocks had positive returns. As measured by the MSCI world ex USA indices, large cap stocks outperformed small cap stocks, and growth stocks outperformed value stocks. 12 Months Ended October 31, 2014 -------------------------------- Return in U.S. Dollars ---------------------- MSCI World ex USA Index........... -0.15% MSCI World ex USA Small Cap Index. -2.14% MSCI World ex USA Value Index..... -0.62% MSCI World ex USA Growth Index.... 0.31% During the period, the U.S. dollar (USD) appreciated against developed markets currencies, detracting from USD-denominated returns of non-U.S. securities in developed markets. 12 Months Ended October 31, 2014 -------------------------------- Ten Largest Foreign Developed Markets by Market Cap Local Return Return in U.S. Dollars --------------------------------------------------- ------------ ---------------------- United Kingdom.................... 0.55% 0.12% Japan............................. 13.47% -0.70% Canada............................ 12.71% 4.26% France............................ 1.34% -6.61% Switzerland....................... 9.61% 3.13% Germany........................... 2.52% -5.52% Australia......................... 6.74% -0.92% Spain............................. 10.44% 1.78% Hong Kong......................... 10.24% 10.21% Sweden............................ 13.18% -1.03% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2014, all rights reserved. 7 VA International Value Portfolio The VA International Value Portfolio is designed 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, 2014, the Portfolio held approximately 480 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, 2014, total returns were -1.16% for the Portfolio and -0.15% 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 trends in international equity markets rather than the behavior of a limited number of stocks. The Portfolio had significantly greater exposure than the Index to value stocks. Value stocks, particularly those in Canada, generally underperformed the Index, which detracted from the Portfolio's relative performance. VA International Small Portfolio The VA International Small Portfolio is designed to capture the returns of international small company stocks. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2014, the Portfolio held approximately 2,620 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, 2014, total returns were -0.59% for the Portfolio and -2.14% 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 trends in international equity markets rather than the behavior of a limited number of stocks. The Portfolio excluded a number of growth-oriented small cap stocks with low profitability that were held by the Index. These stocks generally underperformed other stocks during the period, contributing to the Portfolio's relative outperformance. This was partially offset by the Portfolio's exclusion of real estate investment trusts ("REITs") which outperformed and detracted from the Portfolio's relative performance. Differences in the valuation timing and methodology between the Portfolio and the Index also generally contributed to the Portfolio's relative outperformance. 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. Fixed Income Market Review 12 Months Ended October 31, 2014 U.S. and developed international fixed income markets generally experienced flattening yield curves for the year ended October 31, 2014. In the case of the U.S. and U.K., while longer-term bond yields declined, most shorter-term bond yields increased slightly. The Eurozone saw a sharp decline in bond yields across the curve with the largest declines in longer-term bonds. On average, investment grade credit did well for the year, outperforming government bonds of similar duration. The one-month U.S. Treasury bill yield edged even lower during the period, while the yield on ten-year U.S. Treasury notes decreased to 2.34%. October 31, 2013 October 31, 2014 Change ---------------- ---------------- ------ One-Month Treasury Bill (yield)...... 0.03% 0.00% -0.03% Ten-Year U.S. Treasury Notes (yield). 2.56% 2.34% -0.22% ---------- 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, 2014, total returns were 0.07% for three-month U.S. Treasury bills, 1.18% for five-year U.S. Treasury notes, and 15.44% for 30-year U.S. Treasury bonds. (Source: Barclays Treasury Bellwethers). 8 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 more attractive opportunities on a risk-adjusted basis. When credit spreads are wide, additional credit risk is taken to try to achieve higher expected returns associated with increased risk. During the period under review, credit spreads continued to narrow, and the portfolios employing the variable credit approach began to underweight the lower tier of investment grade credits. VA Short-Term Fixed Portfolio The VA Short-Term Fixed Portfolio is designed to achieve a stable real return in excess of the rate of inflation 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 favorable maturity ranges for 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 was unchanged at 353 days on both October 31, 2014, and October 31, 2013. For the 12 months ended October 31, 2014, the total return was 0.25% for the Portfolio, 0.14% for The BofA Merrill Lynch US 6-Month Treasury Bill Index, and 0.28% for The BofA Merrill Lynch 1-Year US Treasury Note Index. During the period, interest rates increased slightly in the long end of the eligible maturity range as two-year U.S. Treasury bond yields increased from approximately 0.30% to 0.49%. The yield curve remained upwardly sloped, even steepening slightly, causing the Portfolio's maturity structure to remain extended. While two-year rates did drift higher, the Portfolio benefitted from the position of the bonds on the yield curve. This helped to offset the negative impact of rising rates. The credit premium on corporate securities held by the Portfolio also helped offset this negative effect. VA Global Bond Portfolio The VA Global Bond Portfolio is designed 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 favorable maturity ranges for 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 4.17 years on October 31, 2014, from 4.08 years on October 31, 2013. For the 12 months ended October 31, 2014, total returns were 1.90% for the Portfolio and 1.55% 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 78% of assets in U.S. dollar-denominated securities and the majority of the remainder invested in currency-hedged UK pound sterling-denominated bonds. The Portfolio's larger exposure to U.S. dollar-denominated bonds contributed to the Portfolio's relative outperformance as compared to the Index. The Portfolio also benefitted from its lack of exposure to Japanese yen-denominated bonds, which represented almost 21% of the benchmark. The Portfolio had an average duration of 3.98 years on October 31, 2014, compared to 2.71 years for the Index. The time of valuation of currency exchange rates can create differences between the performance of the Portfolio and the Index. 9 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 investments in domestic equity funds include the U.S. Core Equity 1 Portfolio, the U.S. Core Equity 2 Portfolio, VA U.S. Large Value Portfolio, and the DFA Real Estate Securities Portfolio; the Portfolio's investments 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 investments 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, 2014, the Equity and Fixed Income Underlying Funds collectively held approximately 12,000 equity securities in 44 countries and approximately 490 fixed income securities in 18 countries, excluding supranationals. For the 12 months ended October 31, 2014, total returns were 5.87% for the Portfolio and 5.41% 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 trends in global equity and fixed income markets rather than the behavior of a limited group of securities. The Portfolio's outperformance relative to the hypothetical composite index was primarily driven by outperformance in the Portfolio's equity component. The Portfolio's equity component, through the Equity Underlying Funds, had greater exposure to U.S. stocks, which was the primary contributor to the Portfolio's relative outperformance as the U.S. was among the best-performing world markets during the period. The Equity Underlying Funds had less exposure than the Index to emerging markets, which contributed to the Portfolio's relative performance as emerging markets generally underperformed during the period. The Equity Underlying Funds had greater exposure to small cap stocks, which underperformed and detracted from the Portfolio's relative performance primarily in the U.S. The Portfolio's fixed income component outperformed the fixed income component of the index primarily due to the Fixed Income Underlying Funds' longer duration during a period of upwardly sloped yield curves. Outperformance within fixed income was partly offset by underperformance in unhedged currencies within the Selectively Hedged Global Fixed Income Portfolio. 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, 2014 EXPENSE TABLES Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- VA U.S. Targeted Value Portfolio -------------------------------- Actual Fund Return............... $1,000.00 $1,020.10 0.37% $1.88 Hypothetical 5% Annual Return.... $1,000.00 $1,023.34 0.37% $1.89 VA U.S. Large Value Portfolio ----------------------------- Actual Fund Return............... $1,000.00 $1,048.20 0.27% $1.39 Hypothetical 5% Annual Return.... $1,000.00 $1,023.84 0.27% $1.38 11 DISCLOSURE OF FUND EXPENSES CONTINUED Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- VA International Value Portfolio -------------------------------- Actual Fund Return............................ $1,000.00 $ 938.10 0.45% $2.20 Hypothetical 5% Annual Return................. $1,000.00 $1,022.94 0.45% $2.29 VA International Small Portfolio -------------------------------- Actual Fund Return............................ $1,000.00 $ 924.20 0.59% $2.86 Hypothetical 5% Annual Return................. $1,000.00 $1,022.23 0.59% $3.01 VA Short-Term Fixed Portfolio ----------------------------- Actual Fund Return............................ $1,000.00 $1,001.00 0.27% $1.36 Hypothetical 5% Annual Return................. $1,000.00 $1,023.84 0.27% $1.38 VA Global Bond Portfolio ------------------------ Actual Fund Return............................ $1,000.00 $1,013.00 0.24% $1.22 Hypothetical 5% Annual Return................. $1,000.00 $1,024.00 0.24% $1.22 DFA VA Global Moderate Allocation Portfolio** --------------------------------------------- Actual Fund Return............................ $1,000.00 $1,013.40 0.40% $2.03 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 29, 2014. 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. FUND OF FUNDS Affiliated Investment Company ----------------------------- DFA VA Global Moderate Allocation Portfolio. 100.0% DOMESTIC AND INTERNATIONAL EQUITY PORTFOLIOS VA U.S. Targeted Value Portfolio Consumer Discretionary....................... 14.1% Consumer Staples............................. 3.2% Energy....................................... 9.2% Financials................................... 24.4% Health Care.................................. 6.0% Industrials.................................. 18.7% Information Technology....................... 14.4% Materials.................................... 7.8% Other........................................ -- Real Estate Investment Trusts................ -- Telecommunication Services................... 1.5% Utilities.................................... 0.7% ----- 100.0% VA U.S. Large Value Portfolio Consumer Discretionary....................... 12.5% Consumer Staples............................. 6.5% Energy....................................... 21.4% Financials................................... 19.9% Health Care.................................. 10.8% Industrials.................................. 11.5% Information Technology....................... 8.8% Materials.................................... 3.8% Telecommunication Services................... 4.4% Utilities.................................... 0.4% ----- 100.0% VA International Value Portfolio Consumer Discretionary....................... 10.6% Consumer Staples............................. 4.4% Energy....................................... 13.8% Financials................................... 35.0% Health Care.................................. 3.9% Industrials.................................. 9.3% Information Technology....................... 2.8% Materials.................................... 11.7% Other........................................ -- Telecommunication Services................... 5.2% Utilities.................................... 3.3% ----- 100.0% 13 DISCLOSURE OF PORTFOLIO HOLDINGS CONTINUED VA International Small Portfolio Consumer Discretionary....................... 19.6% Consumer Staples............................. 6.2% Energy....................................... 5.2% Financials................................... 13.7% Health Care.................................. 6.7% Industrials.................................. 25.1% Information Technology....................... 9.7% Materials.................................... 10.0% Other........................................ -- Telecommunication Services................... 1.6% Utilities.................................... 2.2% ----- 100.0% FIXED INCOME PORTFOLIOS VA Short-Term Fixed Portfolio Corporate.................................... 16.0% Government................................... 22.9% Foreign Corporate............................ 30.1% Foreign Government........................... 23.5% Supranational................................ 7.5% ----- 100.0% VA Global Bond Portfolio Corporate.................................... 27.3% Government................................... 4.7% Foreign Corporate............................ 31.3% Foreign Government........................... 30.8% Supranational................................ 5.9% ----- 100.0% 14 VA U.S. TARGETED VALUE PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (82.2%) Consumer Discretionary -- (11.6%) # Darden Restaurants, Inc............ 13,046 $ 675,522 0.3% DeVry Education Group, Inc......... 14,803 716,613 0.4% Dillard's, Inc. Class A............ 7,314 773,529 0.4% Foot Locker, Inc................... 15,270 855,273 0.4% Graham Holdings Co. Class B........ 910 713,076 0.4% Lear Corp.......................... 9,741 901,042 0.4% PulteGroup, Inc.................... 45,811 879,113 0.4% Wendy's Co. (The).................. 87,792 704,092 0.3% Other Securities................... 22,103,678 10.7% ----------- ----- Total Consumer Discretionary........... 28,321,938 13.7% ----------- ----- Consumer Staples -- (2.7%) # Ingredion, Inc..................... 9,293 717,884 0.4% Other Securities................... 5,771,983 2.7% ----------- ----- Total Consumer Staples................. 6,489,867 3.1% ----------- ----- Energy -- (7.5%) Nabors Industries, Ltd............. 43,157 770,353 0.4% Tesoro Corp........................ 10,013 715,028 0.4% Other Securities................... 16,941,376 8.1% ----------- ----- Total Energy........................... 18,426,757 8.9% ----------- ----- Financials -- (20.0%) * Alleghany Corp..................... 1,924 854,795 0.4% American Financial Group, Inc...... 13,215 790,653 0.4% Assurant, Inc...................... 11,316 771,978 0.4% * E*TRADE Financial Corp............. 42,087 938,540 0.5% Legg Mason, Inc.................... 18,412 957,424 0.5% NASDAQ OMX Group, Inc. (The)....... 24,288 1,050,699 0.5% # New York Community Bancorp, Inc.... 58,201 928,306 0.5% PartnerRe, Ltd..................... 8,404 972,259 0.5% Protective Life Corp............... 11,192 779,859 0.4% Reinsurance Group of America, Inc.. 8,697 732,722 0.4% WR Berkley Corp.................... 14,110 727,229 0.4% Zions Bancorporation............... 26,263 760,839 0.4% Other Securities................... 38,758,580 18.4% ----------- ----- Total Financials....................... 49,023,883 23.7% ----------- ----- Health Care -- (4.9%) * Alere, Inc......................... 19,422 776,297 0.4% * Community Health Systems, Inc...... 15,723 864,293 0.4% * LifePoint Hospitals, Inc........... 10,900 763,000 0.4% Omnicare, Inc...................... 15,345 1,021,824 0.5% Other Securities................... 8,608,624 4.1% ----------- ----- Total Health Care...................... 12,034,038 5.8% ----------- ----- Industrials -- (15.3%) # ADT Corp. (The).................... 20,752 743,752 0.4% Alaska Air Group, Inc.............. 17,072 908,743 0.4% AMERCO............................. 5,363 1,454,017 0.7% * Avis Budget Group, Inc............. 21,045 1,173,259 0.6% Curtiss-Wright Corp................ 10,861 751,690 0.4% GATX Corp.......................... 10,799 684,657 0.3% 15 VA U.S. TARGETED VALUE PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Industrials -- (Continued) * Kirby Corp......................................... 6,142 $ 679,182 0.3% * Quanta Services, Inc............................... 26,816 913,889 0.4% Ryder System, Inc.................................. 9,234 816,932 0.4% # Trinity Industries, Inc............................ 22,210 793,119 0.4% Other Securities................................... 28,587,900 13.8% ------------ ------ Total Industrials........................................ 37,507,140 18.1% ------------ ------ Information Technology -- (11.9%) * Arrow Electronics, Inc............................. 15,959 907,429 0.5% Avnet, Inc......................................... 19,698 851,938 0.4% #* First Solar, Inc................................... 13,757 810,287 0.4% Marvell Technology Group, Ltd...................... 53,781 722,817 0.4% * TriQuint Semiconductor, Inc........................ 38,852 840,369 0.4% Other Securities................................... 24,914,456 12.0% ------------ ------ Total Information Technology............................. 29,047,296 14.1% ------------ ------ Materials -- (6.4%) MeadWestvaco Corp.................................. 21,544 951,598 0.5% Reliance Steel & Aluminum Co....................... 11,310 763,199 0.4% Rock-Tenn Co. Class A.............................. 17,997 920,547 0.5% Steel Dynamics, Inc................................ 31,853 732,938 0.4% # United States Steel Corp........................... 21,092 844,524 0.4% Other Securities................................... 11,473,109 5.4% ------------ ------ Total Materials.......................................... 15,685,915 7.6% ------------ ------ Other -- (0.0%) Other Securities................................... -- 0.0% ------------ ------ Real Estate Investment Trusts -- (0.1%) Other Securities................................... 91,822 0.1% ------------ ------ Telecommunication Services -- (1.2%) # Frontier Communications Corp....................... 132,745 868,152 0.4% Windstream Holdings, Inc........................... 74,750 783,380 0.4% Other Securities................................... 1,310,548 0.6% ------------ ------ Total Telecommunication Services......................... 2,962,080 1.4% ------------ ------ Utilities -- (0.6%) UGI Corp........................................... 21,627 815,122 0.4% Other Securities................................... 606,516 0.3% ------------ ------ Total Utilities.......................................... 1,421,638 0.7% ------------ ------ TOTAL COMMON STOCKS...................................... 201,012,374 97.2% ------------ ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 20 0.0% ------------ ------ TEMPORARY CASH INVESTMENTS -- (0.4%) State Street Institutional Liquid Reserves, 0.077%. 1,009,555 1,009,555 0.5% ------------ ------ SECURITIES LENDING COLLATERAL -- (17.4%) (S)@ DFA Short Term Investment Fund..................... 3,688,197 42,672,441 20.6% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $204,860,327).................................. $244,694,390 118.3% ============ ====== 16 VA U.S. TARGETED VALUE PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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............ $ 28,321,938 -- -- $ 28,321,938 Consumer Staples.................. 6,489,867 -- -- 6,489,867 Energy............................ 18,426,757 -- -- 18,426,757 Financials........................ 49,018,144 $ 5,739 -- 49,023,883 Health Care....................... 12,034,038 -- -- 12,034,038 Industrials....................... 37,506,948 192 -- 37,507,140 Information Technology............ 29,047,296 -- -- 29,047,296 Materials......................... 15,685,915 -- -- 15,685,915 Other............................. -- -- -- -- Real Estate Investment Trusts..... 91,822 -- -- 91,822 Telecommunication Services........ 2,962,080 -- -- 2,962,080 Utilities......................... 1,421,638 -- -- 1,421,638 Rights/Warrants -- 20 -- 20 Temporary Cash Investments......... 1,009,555 -- -- 1,009,555 Securities Lending Collateral...... -- 42,672,441 -- 42,672,441 ------------ ----------- -- ------------ TOTAL.............................. $202,015,998 $42,678,392 -- $244,694,390 ============ =========== == ============ See accompanying Notes to Financial Statements. 17 VA U.S. LARGE VALUE PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (89.8%) Consumer Discretionary -- (11.2%) Comcast Corp. Class A................ 139,605 $ 7,727,137 3.0% # Comcast Corp. Special Class A........ 35,244 1,943,354 0.8% General Motors Co.................... 60,489 1,899,355 0.7% Time Warner Cable, Inc............... 25,682 3,780,647 1.5% Time Warner, Inc..................... 71,600 5,690,052 2.2% Other Securities..................... 11,154,554 4.2% ----------- ----- Total Consumer Discretionary............. 32,195,099 12.4% ----------- ----- Consumer Staples -- (5.8%) Archer-Daniels-Midland Co............ 31,138 1,463,486 0.5% CVS Health Corp...................... 95,713 8,213,133 3.2% Mondelez International, Inc. Class A. 76,848 2,709,660 1.0% Other Securities..................... 4,275,335 1.7% ----------- ----- Total Consumer Staples................... 16,661,614 6.4% ----------- ----- Energy -- (19.2%) Anadarko Petroleum Corp.............. 36,543 3,353,917 1.3% # Apache Corp.......................... 26,682 2,059,850 0.8% Baker Hughes, Inc.................... 27,445 1,453,487 0.6% Chevron Corp......................... 79,633 9,551,978 3.7% ConocoPhillips....................... 95,487 6,889,387 2.7% Devon Energy Corp.................... 24,476 1,468,560 0.6% Exxon Mobil Corp..................... 63,374 6,128,900 2.4% Hess Corp............................ 24,374 2,067,159 0.8% Marathon Oil Corp.................... 51,214 1,812,976 0.7% Marathon Petroleum Corp.............. 23,311 2,118,970 0.8% National Oilwell Varco, Inc.......... 22,622 1,643,262 0.6% Occidental Petroleum Corp............ 39,934 3,551,331 1.4% Phillips 66.......................... 34,593 2,715,550 1.0% Valero Energy Corp................... 39,957 2,001,446 0.8% Other Securities..................... 8,346,199 3.1% ----------- ----- Total Energy............................. 55,162,972 21.3% ----------- ----- Financials -- (17.9%) American International Group, Inc.... 26,731 1,431,980 0.6% Bank of America Corp................. 227,830 3,909,563 1.5% Bank of New York Mellon Corp. (The).. 35,274 1,365,809 0.5% Capital One Financial Corp........... 31,585 2,614,290 1.0% Citigroup, Inc....................... 65,200 3,490,156 1.4% Goldman Sachs Group, Inc. (The)...... 12,495 2,373,925 0.9% JPMorgan Chase & Co.................. 147,929 8,946,746 3.5% Wells Fargo & Co..................... 54,869 2,912,995 1.1% Other Securities..................... 24,277,509 9.3% ----------- ----- Total Financials......................... 51,322,973 19.8% ----------- ----- Health Care -- (9.7%) Aetna, Inc........................... 29,702 2,450,712 0.9% * Express Scripts Holding Co........... 45,358 3,484,402 1.3% Humana, Inc.......................... 11,026 1,530,960 0.6% Pfizer, Inc.......................... 315,767 9,457,222 3.7% Thermo Fisher Scientific, Inc........ 23,750 2,792,287 1.1% WellPoint, Inc....................... 19,421 2,460,446 1.0% 18 VA U.S. LARGE VALUE PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Health Care -- (Continued) Other Securities................................... $ 5,710,573 2.2% ------------ ------ Total Health Care........................................ 27,886,602 10.8% ------------ ------ Industrials -- (10.4%) CSX Corp........................................... 81,927 2,919,059 1.1% FedEx Corp......................................... 10,397 1,740,458 0.7% General Electric Co................................ 299,090 7,719,513 3.0% Norfolk Southern Corp.............................. 23,455 2,595,061 1.0% Northrop Grumman Corp.............................. 14,791 2,040,566 0.8% Southwest Airlines Co.............................. 56,310 1,941,569 0.7% Other Securities................................... 10,692,481 4.2% ------------ ------ Total Industrials........................................ 29,648,707 11.5% ------------ ------ Information Technology -- (7.9%) Cisco Systems, Inc................................. 119,376 2,921,131 1.1% Hewlett-Packard Co................................. 134,639 4,830,847 1.9% # Intel Corp......................................... 123,454 4,198,671 1.6% #* Micron Technology, Inc............................. 66,760 2,209,088 0.9% Other Securities................................... 8,521,889 3.3% ------------ ------ Total Information Technology............................. 22,681,626 8.8% ------------ ------ Materials -- (3.4%) Alcoa, Inc......................................... 86,347 1,447,176 0.6% Freeport-McMoRan, Inc.............................. 63,336 1,805,076 0.7% Other Securities................................... 6,457,834 2.5% ------------ ------ Total Materials.......................................... 9,710,086 3.8% ------------ ------ Telecommunication Services -- (4.0%) # AT&T, Inc.......................................... 254,470 8,865,735 3.4% CenturyLink, Inc................................... 38,023 1,577,194 0.6% Other Securities................................... 936,465 0.4% ------------ ------ Total Telecommunication Services......................... 11,379,394 4.4% ------------ ------ Utilities -- (0.3%) Other Securities................................... 860,326 0.3% ------------ ------ TOTAL COMMON STOCKS...................................... 257,509,399 99.5% ------------ ------ TEMPORARY CASH INVESTMENTS -- (0.8%) State Street Institutional Liquid Reserves, 0.077% 2,220,660 2,220,660 0.9% ------------ ------ SECURITIES LENDING COLLATERAL -- (9.4%) (S)@ DFA Short Term Investment Fund..................... 2,342,269 27,100,052 10.5% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $211,883,174).................................. $286,830,111 110.9% ============ ====== 19 VA U.S. LARGE VALUE PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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............ $ 32,195,099 -- -- $ 32,195,099 Consumer Staples.................. 16,661,614 -- -- 16,661,614 Energy............................ 55,162,972 -- -- 55,162,972 Financials........................ 51,322,973 -- -- 51,322,973 Health Care....................... 27,886,602 -- -- 27,886,602 Industrials....................... 29,648,707 -- -- 29,648,707 Information Technology............ 22,681,626 -- -- 22,681,626 Materials......................... 9,710,086 -- -- 9,710,086 Telecommunication Services........ 11,379,394 -- -- 11,379,394 Utilities......................... 860,326 -- -- 860,326 Temporary Cash Investments......... 2,220,660 -- -- 2,220,660 Securities Lending Collateral...... -- $27,100,052 -- 27,100,052 ------------ ----------- -- ------------ TOTAL.............................. $259,730,059 $27,100,052 -- $286,830,111 ============ =========== == ============ See accompanying Notes to Financial Statements. 20 VA INTERNATIONAL VALUE PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (95.1%) AUSTRALIA -- (6.0%) Macquarie Group, Ltd.......................... 21,967 $ 1,187,176 0.7% National Australia Bank, Ltd.................. 34,685 1,073,007 0.7% Santos, Ltd................................... 77,215 884,826 0.5% Wesfarmers, Ltd............................... 41,405 1,611,399 1.0% Other Securities.............................. 5,502,053 3.3% ----------- ---- TOTAL AUSTRALIA................................... 10,258,461 6.2% ----------- ---- AUSTRIA -- (0.2%) Other Securities.............................. 325,609 0.2% ----------- ---- BELGIUM -- (1.7%) Other Securities.............................. 2,955,893 1.8% ----------- ---- CANADA -- (7.9%) Canadian Natural Resources, Ltd............... 42,970 1,498,794 0.9% Manulife Financial Corp....................... 41,820 793,691 0.5% Suncor Energy, Inc............................ 51,054 1,812,857 1.1% Other Securities.............................. 9,460,226 5.7% ----------- ---- TOTAL CANADA...................................... 13,565,568 8.2% ----------- ---- CHINA -- (0.0%) Other Securities.............................. 459 0.0% ----------- ---- DENMARK -- (1.4%) Other Securities.............................. 2,443,511 1.5% ----------- ---- FINLAND -- (0.9%) Fortum Oyj.................................... 34,596 802,343 0.5% Other Securities.............................. 797,878 0.5% ----------- ---- TOTAL FINLAND..................................... 1,600,221 1.0% ----------- ---- FRANCE -- (8.1%) AXA SA........................................ 65,314 1,508,657 0.9% BNP Paribas SA................................ 15,022 944,013 0.6% Cie de St-Gobain.............................. 23,655 1,016,807 0.6% GDF Suez...................................... 59,003 1,432,588 0.9% Orange SA..................................... 76,407 1,216,428 0.7% Renault SA.................................... 14,931 1,110,661 0.7% Societe Generale SA........................... 21,148 1,019,144 0.6% Vivendi SA.................................... 53,030 1,295,497 0.8% Other Securities.............................. 4,375,705 2.6% ----------- ---- TOTAL FRANCE...................................... 13,919,500 8.4% ----------- ---- GERMANY -- (7.2%) Allianz SE.................................... 13,227 2,103,386 1.3% Bayerische Motoren Werke AG................... 14,219 1,524,813 0.9% Daimler AG.................................... 40,269 3,139,733 1.9% Muenchener Rueckversicherungs-Gesellschaft AG. 4,053 797,986 0.5% Other Securities.............................. 4,804,658 2.9% ----------- ---- TOTAL GERMANY..................................... 12,370,576 7.5% ----------- ---- 21 VA INTERNATIONAL VALUE PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- HONG KONG -- (2.5%) Hutchison Whampoa, Ltd................ 78,000 $ 991,096 0.6% Other Securities...................... 3,297,338 2.0% ----------- ----- TOTAL HONG KONG........................... 4,288,434 2.6% ----------- ----- IRELAND -- (0.2%) Other Securities...................... 408,680 0.3% ----------- ----- ISRAEL -- (0.6%) Other Securities...................... 1,043,712 0.6% ----------- ----- ITALY -- (1.8%) UniCredit SpA......................... 140,141 1,015,002 0.6% Other Securities...................... 2,019,817 1.2% ----------- ----- TOTAL ITALY............................... 3,034,819 1.8% ----------- ----- JAPAN -- (20.4%) Honda Motor Co., Ltd.................. 61,400 1,962,911 1.2% Mitsubishi UFJ Financial Group, Inc... 412,000 2,401,636 1.5% Mizuho Financial Group, Inc........... 938,600 1,710,425 1.0% Nippon Steel & Sumitomo Metal Corp.... 322,185 850,196 0.5% Nissan Motor Co., Ltd................. 102,200 932,238 0.6% NTT DOCOMO, Inc....................... 58,700 990,027 0.6% Sumitomo Mitsui Financial Group, Inc.. 50,800 2,071,772 1.3% Other Securities...................... 24,223,699 14.6% ----------- ----- TOTAL JAPAN............................... 35,142,904 21.3% ----------- ----- NETHERLANDS -- (3.0%) * ING Groep NV.......................... 109,394 1,566,562 0.9% Koninklijke DSM NV.................... 12,633 791,558 0.5% Other Securities...................... 2,808,903 1.7% ----------- ----- TOTAL NETHERLANDS......................... 5,167,023 3.1% ----------- ----- NEW ZEALAND -- (0.1%) Other Securities...................... 182,792 0.1% ----------- ----- NORWAY -- (0.9%) Other Securities...................... 1,582,070 1.0% ----------- ----- PORTUGAL -- (0.1%) Other Securities...................... 143,153 0.1% ----------- ----- SINGAPORE -- (1.2%) Other Securities...................... 2,105,233 1.3% ----------- ----- SPAIN -- (2.3%) Iberdrola SA.......................... 200,037 1,416,046 0.9% Other Securities...................... 2,544,969 1.5% ----------- ----- TOTAL SPAIN............................... 3,961,015 2.4% ----------- ----- SWEDEN -- (3.0%) Svenska Cellulosa AB Class B.......... 35,492 795,251 0.5% Other Securities...................... 4,358,784 2.6% ----------- ----- TOTAL SWEDEN.............................. 5,154,035 3.1% ----------- ----- 22 VA INTERNATIONAL VALUE PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- SWITZERLAND -- (9.5%) ABB, Ltd................................ 59,532 $ 1,306,053 0.8% Holcim, Ltd............................. 13,089 928,985 0.6% Novartis AG............................. 38,719 3,593,234 2.2% Novartis AG ADR......................... 10,786 999,754 0.6% Swiss Re AG............................. 24,507 1,981,656 1.2% UBS AG.................................. 63,790 1,109,189 0.7% Zurich Insurance Group AG............... 6,258 1,893,849 1.1% Other Securities........................ 4,587,051 2.7% ------------ ------ TOTAL SWITZERLAND............................. 16,399,771 9.9% ------------ ------ UNITED KINGDOM -- (16.1%) Anglo American P.L.C.................... 58,027 1,225,156 0.7% # Barclays P.L.C. Sponsored ADR........... 116,946 1,800,969 1.1% BP P.L.C. Sponsored ADR................. 141,449 6,147,374 3.7% HSBC Holdings P.L.C. Sponsored ADR...... 76,492 3,902,622 2.4% * Lloyds Banking Group P.L.C. ADR......... 176,409 867,932 0.5% # Royal Dutch Shell P.L.C. ADR(780259107). 38,739 2,892,641 1.8% Royal Dutch Shell P.L.C. ADR(780259206). 50,190 3,603,140 2.2% Standard Chartered P.L.C................ 70,286 1,057,991 0.6% Vodafone Group P.L.C.................... 610,801 2,031,190 1.2% Vodafone Group P.L.C. Sponsored ADR..... 25,108 834,082 0.5% Other Securities........................ 3,294,368 2.1% ------------ ------ TOTAL UNITED KINGDOM.......................... 27,657,465 16.8% ------------ ------ TOTAL COMMON STOCKS........................... 163,710,904 99.2% ------------ ------ PREFERRED STOCKS -- (0.0%) GERMANY -- (0.0%) Other Securities........................ 32,681 0.0% ------------ ------ RIGHTS/WARRANTS -- (0.0%) SPAIN -- (0.0%) Other Securities........................ 9,646 0.0% ------------ ------ Value+ - ------ - SECURITIES LENDING COLLATERAL -- (4.9%) (S)@ DFA Short Term Investment Fund.......... 723,769 8,374,012 5.1% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $171,077,829)....................... $172,127,243 104.3% ============ ====== 23 VA INTERNATIONAL VALUE PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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......................... $ 192,172 $ 10,066,289 -- $ 10,258,461 Austria........................... -- 325,609 -- 325,609 Belgium........................... -- 2,955,893 -- 2,955,893 Canada............................ 13,565,568 -- -- 13,565,568 China............................. -- 459 -- 459 Denmark........................... -- 2,443,511 -- 2,443,511 Finland........................... -- 1,600,221 -- 1,600,221 France............................ 457 13,919,043 -- 13,919,500 Germany........................... 681,264 11,689,312 -- 12,370,576 Hong Kong......................... -- 4,288,434 -- 4,288,434 Ireland........................... 174,285 234,395 -- 408,680 Israel............................ 241,070 802,642 -- 1,043,712 Italy............................. 280,240 2,754,579 -- 3,034,819 Japan............................. 576,762 34,566,142 -- 35,142,904 Netherlands....................... 763,871 4,403,152 -- 5,167,023 New Zealand....................... -- 182,792 -- 182,792 Norway............................ 100,855 1,481,215 -- 1,582,070 Portugal.......................... -- 143,153 -- 143,153 Singapore......................... -- 2,105,233 -- 2,105,233 Spain............................. -- 3,961,015 -- 3,961,015 Sweden............................ 364,826 4,789,209 -- 5,154,035 Switzerland....................... 1,256,822 15,142,949 -- 16,399,771 United Kingdom.................... 20,400,280 7,257,185 -- 27,657,465 Preferred Stocks Germany........................... -- 32,681 -- 32,681 Rights/Warrants Spain............................. -- 9,646 -- 9,646 Securities Lending Collateral...... -- 8,374,012 -- 8,374,012 ----------- ------------ -- ------------ TOTAL.............................. $38,598,472 $133,528,771 -- $172,127,243 =========== ============ == ============ See accompanying Notes to Financial Statements. 24 VA INTERNATIONAL SMALL PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (88.1%) AUSTRALIA -- (5.4%) Other Securities...................... $ 8,263,202 6.1% ----------- ---- AUSTRIA -- (0.7%) Other Securities...................... 1,100,049 0.8% ----------- ---- BELGIUM -- (1.2%) Ackermans & van Haaren NV............. 2,145 267,497 0.2% Other Securities...................... 1,543,606 1.1% ----------- ---- TOTAL BELGIUM............................. 1,811,103 1.3% ----------- ---- CANADA -- (8.6%) Other Securities...................... 13,194,904 9.7% ----------- ---- CHINA -- (0.0%) Other Securities...................... 27,111 0.0% ----------- ---- DENMARK -- (1.4%) Other Securities...................... 2,187,379 1.6% ----------- ---- FINLAND -- (2.2%) Huhtamaki Oyj......................... 9,505 241,191 0.2% Other Securities...................... 3,042,600 2.2% ----------- ---- TOTAL FINLAND............................. 3,283,791 2.4% ----------- ---- FRANCE -- (3.4%) # Ingenico.............................. 2,397 238,797 0.2% Neopost SA............................ 3,793 263,233 0.2% Teleperformance....................... 4,525 285,141 0.2% Other Securities...................... 4,467,466 3.3% ----------- ---- TOTAL FRANCE.............................. 5,254,637 3.9% ----------- ---- GERMANY -- (4.4%) Deutsche Wohnen AG.................... 19,652 443,573 0.3% Freenet AG............................ 9,694 254,348 0.2% Rhoen Klinikum AG..................... 8,742 260,293 0.2% Other Securities...................... 5,778,503 4.3% ----------- ---- TOTAL GERMANY............................. 6,736,717 5.0% ----------- ---- GREECE -- (0.0%) Other Securities...................... -- 0.0% ----------- ---- HONG KONG -- (2.7%) Other Securities...................... 4,186,459 3.1% ----------- ---- IRELAND -- (0.5%) Other Securities...................... 702,760 0.5% ----------- ---- ISRAEL -- (0.6%) Other Securities...................... 916,906 0.7% ----------- ---- ITALY -- (3.1%) * Banca Popolare dell'Emilia Romagna SC. 32,280 246,318 0.2% * Banca Popolare di Milano Scarl........ 327,016 246,480 0.2% 25 VA INTERNATIONAL SMALL PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- ITALY -- (Continued) * Finmeccanica SpA.................. 29,283 $ 264,613 0.2% Other Securities.................. 3,895,803 2.8% ----------- ----- TOTAL ITALY........................... 4,653,214 3.4% ----------- ----- JAPAN -- (19.7%) Other Securities.................. 30,109,931 22.2% ----------- ----- NETHERLANDS -- (2.0%) Delta Lloyd NV.................... 15,787 359,837 0.3% Nutreco NV........................ 8,732 437,363 0.3% Other Securities.................. 2,246,749 1.7% ----------- ----- TOTAL NETHERLANDS..................... 3,043,949 2.3% ----------- ----- NEW ZEALAND -- (0.9%) Other Securities.................. 1,409,834 1.1% ----------- ----- NORWAY -- (0.9%) Other Securities.................. 1,391,586 1.0% ----------- ----- PORTUGAL -- (0.4%) Other Securities.................. 580,896 0.4% ----------- ----- SINGAPORE -- (1.1%) Other Securities.................. 1,726,935 1.3% ----------- ----- SPAIN -- (2.0%) * Jazztel P.L.C..................... 16,693 266,881 0.2% Viscofan SA....................... 4,280 251,666 0.2% Other Securities.................. 2,467,147 1.8% ----------- ----- TOTAL SPAIN........................... 2,985,694 2.2% ----------- ----- SWEDEN -- (3.0%) Other Securities.................. 4,628,821 3.4% ----------- ----- SWITZERLAND -- (4.0%) Helvetia Holding AG............... 531 252,499 0.2% Lonza Group AG.................... 3,419 376,728 0.3% Other Securities.................. 5,473,117 4.0% ----------- ----- TOTAL SWITZERLAND..................... 6,102,344 4.5% ----------- ----- UNITED KINGDOM -- (19.8%) Barratt Developments P.L.C........ 88,920 597,754 0.4% Bellway P.L.C..................... 17,047 478,187 0.4% Bovis Homes Group P.L.C........... 17,954 242,474 0.2% * BTG P.L.C......................... 30,003 362,669 0.3% Carillion P.L.C................... 57,626 307,009 0.2% Close Brothers Group P.L.C........ 19,334 453,713 0.3% Cobham P.L.C...................... 50,230 234,307 0.2% Croda International P.L.C......... 9,510 349,648 0.3% CSR P.L.C......................... 17,258 231,934 0.2% Daily Mail & General Trust P.L.C.. 32,313 408,872 0.3% DCC P.L.C......................... 11,613 650,801 0.5% Dixons Carphone P.L.C............. 65,203 414,026 0.3% Drax Group P.L.C.................. 25,834 245,810 0.2% DS Smith P.L.C.................... 125,546 533,226 0.4% Elementis P.L.C................... 58,514 247,815 0.2% 26 VA INTERNATIONAL SMALL PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- UNITED KINGDOM -- (Continued) * Firstgroup P.L.C.................... 149,510 $ 269,435 0.2% Halma P.L.C......................... 48,321 482,143 0.4% Hays P.L.C.......................... 186,634 368,602 0.3% Hikma Pharmaceuticals P.L.C......... 7,919 240,187 0.2% Howden Joinery Group P.L.C.......... 85,285 467,927 0.3% Inchcape P.L.C...................... 24,576 273,784 0.2% Informa P.L.C....................... 33,824 260,761 0.2% Jardine Lloyd Thompson Group P.L.C.. 15,320 233,587 0.2% Pennon Group P.L.C.................. 21,626 288,584 0.2% Persimmon P.L.C..................... 18,429 432,808 0.3% Rotork P.L.C........................ 8,730 357,855 0.3% Serco Group P.L.C................... 74,593 355,957 0.3% Spectris P.L.C...................... 16,613 479,847 0.4% Spirax-Sarco Engineering P.L.C...... 6,360 290,628 0.2% Taylor Wimpey P.L.C................. 167,273 317,745 0.2% Ultra Electronics Holdings P.L.C.... 9,476 264,999 0.2% Victrex P.L.C....................... 9,223 250,532 0.2% WS Atkins P.L.C..................... 12,225 265,784 0.2% Other Securities.................... 18,528,410 13.4% ------------ ------ TOTAL UNITED KINGDOM...................... 30,187,820 22.3% ------------ ------ UNITED STATES -- (0.1%) Other Securities.................... 86,397 0.1% ------------ ------ TOTAL COMMON STOCKS....................... 134,572,439 99.3% ------------ ------ RIGHTS/WARRANTS -- (0.0%) AUSTRIA -- (0.0%) Other Securities.................... -- 0.0% ------------ ------ GERMANY -- (0.0%) Other Securities.................... 7,362 0.0% ------------ ------ HONG KONG -- (0.0%) Other Securities.................... 1,122 0.0% ------------ ------ ITALY -- (0.0%) Other Securities.................... 2,857 0.0% ------------ ------ PORTUGAL -- (0.0%) Other Securities.................... -- 0.0% ------------ ------ SPAIN -- (0.0%) Other Securities.................... 2,265 0.0% ------------ ------ UNITED KINGDOM -- (0.0%) Other Securities.................... 11,550 0.0% ------------ ------ TOTAL RIGHTS/WARRANTS..................... 25,156 0.0% ------------ ------ Value+ - ------ SECURITIES LENDING COLLATERAL -- (11.9%) (S)@ DFA Short Term Investment Fund...... 1,568,150 $ 18,143,494 13.4% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $144,365,363)................... $152,741,089 112.7% ============ ====== 27 VA INTERNATIONAL SMALL PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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......................... $ 113,942 $ 8,149,260 -- $ 8,263,202 Austria........................... -- 1,100,049 -- 1,100,049 Belgium........................... -- 1,811,103 -- 1,811,103 Canada............................ 13,194,794 110 -- 13,194,904 China............................. -- 27,111 -- 27,111 Denmark........................... -- 2,187,379 -- 2,187,379 Finland........................... -- 3,283,791 -- 3,283,791 France............................ 1,406 5,253,231 -- 5,254,637 Germany........................... 12,083 6,724,634 -- 6,736,717 Greece............................ -- -- -- -- Hong Kong......................... -- 4,186,459 -- 4,186,459 Ireland........................... -- 702,760 -- 702,760 Israel............................ -- 916,906 -- 916,906 Italy............................. -- 4,653,214 -- 4,653,214 Japan............................. 220,879 29,889,052 -- 30,109,931 Netherlands....................... -- 3,043,949 -- 3,043,949 New Zealand....................... -- 1,409,834 -- 1,409,834 Norway............................ -- 1,391,586 -- 1,391,586 Portugal.......................... -- 580,896 -- 580,896 Singapore......................... -- 1,726,935 -- 1,726,935 Spain............................. -- 2,985,694 -- 2,985,694 Sweden............................ -- 4,628,821 -- 4,628,821 Switzerland....................... -- 6,102,344 -- 6,102,344 United Kingdom.................... 18,047 30,169,773 -- 30,187,820 United States..................... 86,397 -- -- 86,397 Rights/Warrants Austria........................... -- -- -- -- Germany........................... -- 7,362 -- 7,362 Hong Kong......................... -- 1,122 -- 1,122 Italy............................. -- 2,857 -- 2,857 Portugal.......................... -- -- -- -- Spain............................. -- 2,265 -- 2,265 United Kingdom.................... 11,207 343 -- 11,550 Securities Lending Collateral...... -- 18,143,494 -- 18,143,494 ----------- ------------ -- ------------ TOTAL.............................. $13,658,755 $139,082,334 -- $152,741,089 =========== ============ == ============ See accompanying Notes to Financial Statements. 28 VA SHORT-TERM FIXED PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Face Amount Value+ ------ ------ (000) AGENCY OBLIGATIONS -- (9.1%) Federal Home Loan Bank 0.375%, 08/28/15............................. $1,100 $ 1,101,888 2.000%, 09/09/16............................. 3,000 3,077,562 0.500%, 10/17/16............................. 1,000 997,251 Federal Home Loan Mortgage Corporation 1.750%, 09/10/15............................. 3,100 3,141,645 0.500%, 05/13/16............................. 1,000 1,001,547 2.000%, 08/25/16............................. 700 718,042 0.875%, 10/14/16............................. 800 805,161 Federal National Mortgage Association 0.500%, 09/28/15............................. 1,500 1,504,794 4.375%, 10/15/15............................. 2,500 2,599,097 1.625%, 10/26/15............................. 1,500 1,520,417 0.375%, 07/05/16............................. 1,500 1,497,135 ----------- TOTAL AGENCY OBLIGATIONS........................... 17,964,539 ----------- BONDS -- (62.4%) 3M Co. 1.375%, 09/29/16............................. 500 507,203 African Development Bank 2.500%, 03/15/16............................. 200 205,708 Agence Francaise de Developpement 1.125%, 10/03/16............................. 1,000 1,007,668 ANZ New Zealand Int'l, Ltd. 3.125%, 08/10/15............................. 900 917,300 Apple, Inc. # 0.450%, 05/03/16............................. 2,200 2,198,981 Apple, Inc. Floating Rate Note #(r) 0.282%, 05/03/16............................. 2,300 2,300,000 Australia & New Zealand Banking Group, Ltd. 3.700%, 01/13/15............................. 650 654,116 # 0.900%, 02/12/16............................. 300 301,360 Bank Nederlandse Gemeenten NV 3.125%, 01/12/15............................. 1,000 1,005,500 2.500%, 01/11/16............................. 1,000 1,025,202 1.125%, 09/12/16............................. 600 605,082 Bank of Montreal 1.300%, 07/15/16............................. 2,500 2,524,745 Bank of Montreal Floating Rate Note (r) 0.751%, 07/15/16............................. 3,000 3,016,929 Bank of Nova Scotia (The) 1.375%, 07/15/16............................. 2,000 2,018,764 Bank of Nova Scotia (The) Floating Rate Note (r) 0.751%, 07/15/16............................. 1,300 1,306,898 British Columbia, Province of Canada 2.850%, 06/15/15............................. 3,000 3,048,750 Face Amount Value+ ------ ------ (000) Commonwealth Bank of Australia 1.250%, 09/18/15............................. $1,000 $1,007,561 Cooperatieve Centrale Raiffeisen- Boerenleenbank BA 0.600%, 04/29/15............................. 1,000 1,000,497 2.125%, 10/13/15............................. 1,000 1,016,082 Cooperatieve Centrale Raiffeisen- Boerenleenbank BA Floating Rate Note (r) 0.714%, 03/18/16............................. 500 502,265 Council Of Europe Development Bank # 2.625%, 02/16/16............................. 500 514,589 1.250%, 09/22/16............................. 1,000 1,011,668 DBS Bank, Ltd. 2.375%, 09/14/15............................. 1,800 1,828,553 Development Bank of Japan, Inc. 2.750%, 03/15/16............................. 1,000 1,031,173 1.625%, 10/05/16............................. 1,000 1,018,300 European Bank for Reconstruction & Development 1.625%, 09/03/15............................. 1,500 1,517,679 European Investment Bank 4.875%, 02/16/16............................. 1,000 1,057,906 2.250%, 03/15/16............................. 1,000 1,025,019 # 0.625%, 04/15/16............................. 500 501,436 # 0.500%, 08/15/16............................. 1,000 999,443 5.125%, 09/13/16............................. 1,000 1,083,460 Export Development Canada 2.250%, 05/28/15............................. 1,500 1,517,595 FMS Wertmanagement AoeR 0.625%, 04/18/16............................. 500 501,041 General Electric Capital Corp. # 2.250%, 11/09/15............................. 800 814,828 1.000%, 01/08/16............................. 1,600 1,608,210 1.500%, 07/12/16............................. 1,200 1,216,037 General Electric Co. 0.850%, 10/09/15............................. 1,550 1,557,155 Hydro-Quebec 2.000%, 06/30/16............................. 1,200 1,227,689 Inter-American Development Bank 5.125%, 09/13/16............................. 2,000 2,164,992 International Bank for Reconstruction & Development 2.125%, 03/15/16............................. 1,500 1,535,412 0.625%, 10/14/16............................. 500 500,267 International Business Machines Corp. Floating Rate Note (r) 0.302%, 02/05/16............................. 2,000 2,000,748 KFW 2.625%, 02/16/16............................. 500 514,914 2.000%, 06/01/16............................. 1,000 1,023,970 0.500%, 07/15/16............................. 1,000 999,742 1.250%, 10/05/16............................. 2,300 2,328,228 29 VA SHORT-TERM FIXED PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) Kommunalbanken A.S. 2.375%, 01/19/16............................. $2,750 $2,815,026 0.875%, 10/03/16............................. 1,000 1,004,154 Landwirtschaftliche Rentenbank 3.125%, 07/15/15............................. 1,500 1,530,438 Merck & Co., Inc. Floating Rate Note (r) 0.421%, 05/18/16............................. 2,855 2,861,050 Municipality Finance P.L.C. 1.250%, 09/12/16............................. 500 505,575 National Australia Bank, Ltd. 2.000%, 03/09/15............................. 300 301,785 2.750%, 09/28/15............................. 2,000 2,038,286 # 0.900%, 01/20/16............................. 1,500 1,505,025 # 1.300%, 07/25/16............................. 500 504,514 National Australia Bank, Ltd. Floating Rate Note (r) 0.784%, 07/25/16............................. 1,000 1,005,892 Nederlandse Waterschapsbank NV 0.750%, 03/29/16............................. 800 802,880 # 2.125%, 06/16/16............................. 2,500 2,562,607 Nordic Investment Bank 2.500%, 07/15/15............................. 1,000 1,015,970 0.500%, 04/14/16............................. 1,000 1,000,793 Novartis Capital Corp. # 2.900%, 04/24/15............................. 1,000 1,012,106 NRW Bank 1.250%, 05/15/15............................. 1,000 1,005,120 NRW Bank Floating Rate Note (r) 0.554%, 12/01/14............................. 1,000 1,000,290 Oesterreichische Kontrollbank AG 4.875%, 02/16/16............................. 1,000 1,056,171 Ontario, Province of Canada # 2.300%, 05/10/16............................. 2,300 2,359,365 1.000%, 07/22/16............................. 1,100 1,105,037 1.600%, 09/21/16............................. 1,900 1,930,586 Quebec, Province of Canada 4.600%, 05/26/15............................. 1,000 1,024,284 Royal Bank of Canada 0.800%, 10/30/15............................. 500 502,041 2.625%, 12/15/15............................. 500 511,469 # 0.850%, 03/08/16............................. 1,500 1,502,707 # 2.875%, 04/19/16............................. 2,000 2,063,440 Royal Bank of Canada Floating Rate Note (r) 0.692%, 09/09/16............................. 750 753,601 Svensk Exportkredit AB 0.625%, 09/04/15............................. 2,500 2,507,337 0.625%, 05/31/16............................. 1,300 1,301,829 Svenska Handelsbanken AB 3.125%, 07/12/16............................. 550 571,265 Svenska Handelsbanken AB Floating Rate Note (r) 0.683%, 03/21/16............................. 3,000 3,012,546 (r) 0.703%, 09/23/16............................. 900 904,404 Toronto-Dominion Bank (The) 2.500%, 07/14/16............................. 400 411,735 1.500%, 09/09/16............................. 1,000 1,012,306 2.375%, 10/19/16............................. 200 206,265 Face Amount Value+ ------ ------ (000) Toronto-Dominion Bank (The) Floating Rate Note (r) 0.437%, 11/06/15............................. $1,874 $ 1,876,063 #(r) 0.400%, 07/13/16............................. 2,000 1,999,992 Total Capital Canada, Ltd. Floating Rate Note (r) 0.611%, 01/15/16............................. 4,640 4,657,219 Total Capital SA 3.000%, 06/24/15............................. 700 712,299 Toyota Motor Credit Corp. 1.250%, 11/17/14............................. 805 805,241 # 1.000%, 02/17/15............................. 1,500 1,503,135 2.800%, 01/11/16............................. 500 513,302 Toyota Motor Credit Corp. Floating Rate Note (r) 0.404%, 12/05/14............................. 400 400,086 (r) 0.333%, 09/23/16............................. 2,000 1,997,744 US Bancorp # 2.875%, 11/20/14............................. 2,000 2,002,252 Westpac Banking Corp. 3.000%, 08/04/15............................. 1,486 1,515,142 1.125%, 09/25/15............................. 474 477,008 3.000%, 12/09/15............................. 500 513,118 0.950%, 01/12/16............................. 2,135 2,150,641 ------------ TOTAL BONDS........................................ 123,601,806 ------------ U.S. TREASURY OBLIGATIONS -- (10.8%) U.S. Treasury Notes 0.250%, 11/30/15............................. 1,700 1,701,460 0.250%, 12/15/15............................. 1,700 1,701,328 2.125%, 12/31/15............................. 3,000 3,066,564 0.375%, 02/15/16............................. 1,000 1,002,031 0.375%, 03/31/16............................. 2,800 2,803,282 0.375%, 04/30/16............................. 1,000 1,000,859 1.500%, 06/30/16............................. 4,000 4,072,812 1.500%, 07/31/16............................. 2,000 2,037,500 0.625%, 08/15/16............................. 1,500 1,505,157 1.000%, 08/31/16............................. 1,600 1,615,875 1.000%, 10/31/16............................. 800 807,625 ------------ TOTAL U.S. TREASURY OBLIGATIONS.................... 21,314,493 ------------ COMMERCIAL PAPER -- (12.6%) ABS Finance, Ltd. ## 0.180%, 12/05/14............................. 250 249,974 Australia & New Zealand Banking Group, Ltd. 0.483%, 01/29/15............................. 1,500 1,501,148 Bank of Nova Scotia (The) 0.460%, 01/12/16............................. 2,000 2,000,268 Banque et Caisse d'Epargne de l'Etat 0.140%, 11/06/14............................. 1,000 999,990 Caisse des Depots et Consignations ## 0.130%, 12/17/14............................. 700 699,869 ## 0.140%, 12/19/14............................. 2,000 1,999,605 0.150%, 12/19/14............................. 1,000 999,803 30 VA SHORT-TERM FIXED PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) Cooperatieve Centrale Raiffeisen- Boerenleenbank BA 0.716%, 05/06/16............................. $2,000 $ 1,992,272 CPPIB Capital, Inc. ## 0.170%, 11/05/14............................. 250 249,998 ## 0.140%, 01/13/15............................. 2,500 2,499,132 Emerson Electric Corp. ## 0.110%, 01/22/15............................. 1,000 999,774 Nederlandse Waterschapsbank NV ## 0.150%, 02/02/15............................. 1,000 999,557 Nordea Bank Finland P.L.C. 0.421%, 01/21/16............................. 2,500 2,499,840 0.414%, 06/13/16............................. 800 799,742 Old Line Funding LLC ## 0.150%, 01/07/15............................. 800 799,751 Standard Chartered Bank ## 0.160%, 12/18/14............................. 860 859,853 ## 0.170%, 01/20/15............................. 3,000 2,998,825 Svenska Handelsbanken AB 0.519%, 01/16/15............................. 1,000 1,000,706 United Overseas Bank, Ltd. ## 0.160%, 01/05/15............................. 860 859,773 ----------- TOTAL COMMERCIAL PAPER........................... 25,009,880 ----------- Shares ------ Value+ TEMPORARY CASH INVESTMENTS -- (0.7%) State Street Institutional Liquid Reserves, 0.077%...................................... 1,419,129 $ 1,419,129 ------------ SECURITIES LENDING COLLATERAL -- (4.4%) (S)@ DFA Short Term Investment Fund............... 757,180 8,760,567 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $198,002,978).............................. $198,070,414 ============ Summary of the Portfolio's investments as of October 31, 2014, 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................. -- $ 17,964,539 -- $ 17,964,539 Bonds.............................. -- 123,601,806 -- 123,601,806 U.S. Treasury Obligations.......... -- 21,314,493 -- 21,314,493 Commercial Paper................... -- 25,009,880 -- 25,009,880 Temporary Cash Investments......... $1,419,129 -- -- 1,419,129 Securities Lending Collateral...... -- 8,760,567 -- 8,760,567 ---------- ------------ -- ------------ TOTAL.............................. $1,419,129 $196,651,285 -- $198,070,414 ========== ============ == ============ See accompanying Notes to Financial Statements. 31 VA GLOBAL BOND PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Face Amount^ Value+ ------- ------ (000) BONDS -- (87.2%) AUSTRALIA -- (9.0%) Australia & New Zealand Banking Group, Ltd. 1.450%, 05/15/18............................. 900 $ 888,946 2.250%, 06/13/19............................. 3,938 3,944,206 Commonwealth Bank of Australia 2.500%, 09/20/18............................. 900 918,764 2.250%, 03/13/19............................. 4,500 4,521,128 2.300%, 09/06/19............................. 500 500,481 National Australia Bank, Ltd. # 2.300%, 07/25/18............................. 4,000 4,073,240 2.250%, 07/01/19............................. 500 500,077 Westpac Banking Corp. # 2.250%, 01/17/19............................. 4,800 4,859,952 ------------ TOTAL AUSTRALIA.................................. 20,206,794 ------------ AUSTRIA -- (2.3%) Oesterreichische Kontrollbank AG 1.125%, 05/29/18............................. 1,000 993,070 2.000%, 12/17/18............................. GBP 967 1,572,930 # 1.625%, 03/12/19............................. 2,500 2,496,125 ------------ TOTAL AUSTRIA.................................... 5,062,125 ------------ CANADA -- (9.8%) Canada Government International Bond 1.625%, 02/27/19............................. 2,900 2,906,757 Export Development Canada 1.875%, 12/17/18............................. GBP 500 812,568 Ontario, Province of Canada 2.000%, 09/27/18............................. 1,300 1,318,944 2.000%, 01/30/19............................. 4,450 4,497,214 Royal Bank of Canada # 2.200%, 07/27/18............................. 5,000 5,075,615 2.150%, 03/15/19............................. 1,000 1,005,866 Toronto-Dominion Bank (The) 2.625%, 09/10/18............................. 2,500 2,561,418 2.125%, 07/02/19............................. 3,000 2,988,918 Total Capital Canada, Ltd. 1.450%, 01/15/18............................. 750 747,011 ------------ TOTAL CANADA..................................... 21,914,311 ------------ DENMARK -- (1.6%) Kommunekredit 1.125%, 03/15/18............................. 3,500 3,479,133 ------------ FINLAND -- (1.3%) Finland Government International Bond 1.625%, 10/01/18............................. 1,000 1,008,130 Face Amount^ Value+ ------- ------ (000) FINLAND -- (Continued) Municipality Finance P.L.C. 1.125%, 12/07/17............................. GBP 900 $ 1,430,372 1.750%, 05/21/19............................. 500 500,571 ----------- TOTAL FINLAND.................................... 2,939,073 ----------- FRANCE -- (3.1%) Dexia Credit Local SA 2.250%, 01/30/19............................. 2,000 2,031,392 Total Capital International SA 1.550%, 06/28/17............................. 400 402,660 2.125%, 01/10/19............................. 1,000 1,005,775 2.100%, 06/19/19............................. 1,800 1,798,920 Total Capital SA # 2.125%, 08/10/18............................. 1,300 1,320,591 3.875%, 12/14/18............................. GBP 250 432,767 ----------- TOTAL FRANCE..................................... 6,992,105 ----------- GERMANY -- (1.0%) FMS Wertmanagement AoeR 1.875%, 12/07/18............................. GBP 400 648,173 KFW 1.875%, 04/01/19............................. 500 505,660 NRW Bank 1.875%, 07/01/19............................. 1,000 999,740 ----------- TOTAL GERMANY.................................... 2,153,573 ----------- JAPAN -- (3.8%) Japan Bank for International Cooperation 1.750%, 07/31/18............................. 4,000 4,036,204 # 1.750%, 05/29/19............................. 1,730 1,729,343 Japan Finance Organization for Municipalities 1.375%, 02/05/18............................. 1,000 997,590 2.125%, 03/06/19............................. 1,700 1,719,669 ----------- TOTAL JAPAN...................................... 8,482,806 ----------- NETHERLANDS -- (9.0%) Bank Nederlandse Gemeenten NV 1.875%, 12/07/18............................. GBP 850 1,373,560 1.875%, 06/11/19............................. 4,200 4,219,862 Cooperatieve Centrale Raiffeisen- Boerenleenbank BA 2.250%, 01/14/19............................. 5,535 5,601,769 Nederlandse Waterschapsbank NV 1.875%, 03/13/19............................. 3,600 3,625,848 Shell International Finance BV 1.900%, 08/10/18............................. 4,000 4,040,968 2.000%, 11/15/18............................. 1,300 1,310,631 ----------- TOTAL NETHERLANDS................................ 20,172,638 ----------- 32 VA GLOBAL BOND PORTFOLIO CONTINUED Face Amount^ Value+ ------- ------ (000) NORWAY -- (4.2%) Kommunalbanken A.S. 2.125%, 03/15/19............................. 2,200 $ 2,239,182 1.750%, 05/28/19............................. 3,500 3,501,484 Statoil ASA 1.150%, 05/15/18............................. 2,600 2,566,291 1.950%, 11/08/18............................. 1,100 1,105,987 ----------- TOTAL NORWAY..................................... 9,412,944 ----------- SINGAPORE -- (2.6%) Singapore Government Bond 4.000%, 09/01/18............................. SGD 1,800 1,553,452 2.500%, 06/01/19............................. SGD 5,165 4,233,840 ----------- TOTAL SINGAPORE.................................. 5,787,292 ----------- SUPRANATIONAL ORGANIZATION OBLIGATIONS -- (5.4%) Asian Development Bank 1.875%, 04/12/19............................. 1,000 1,010,710 Council Of Europe Development Bank 1.875%, 12/22/18............................. GBP 600 973,143 European Investment Bank 1.625%, 12/18/18............................. 1,000 1,004,478 1.500%, 02/01/19............................. GBP 1,900 3,026,331 1.875%, 03/15/19............................. 1,600 1,618,320 International Bank for Reconstruction & Development 1.875%, 03/15/19............................. 3,000 3,048,450 Nordic Investment Bank 1.875%, 06/14/19............................. 1,300 1,313,253 ----------- TOTAL SUPRANATIONAL ORGANIZATION OBLIGATIONS..... 11,994,685 ----------- SWEDEN -- (6.7%) Nordea Bank AB 2.375%, 04/04/19............................. 4,000 4,044,652 Svensk Exportkredit AB 1.875%, 12/21/18............................. GBP 500 808,073 1.875%, 06/17/19............................. 4,200 4,224,528 Svenska Handelsbanken AB 4.000%, 01/18/19............................. GBP 137 236,415 2.500%, 01/25/19............................. 3,000 3,069,657 # 2.250%, 06/17/19............................. 2,500 2,515,360 ----------- TOTAL SWEDEN..................................... 14,898,685 ----------- UNITED KINGDOM -- (2.4%) United Kingdom Gilt 1.250%, 07/22/18............................. GBP 3,200 5,111,671 1.750%, 07/22/19............................. GBP 200 322,989 ----------- TOTAL UNITED KINGDOM............................. 5,434,660 ----------- Face Amount^ Value+ ------- ------ (000) UNITED STATES -- (25.0%) 3M Co. 1.625%, 06/15/19............................. 1,350 $ 1,339,073 Apple, Inc. 1.000%, 05/03/18............................. 1,700 1,667,826 2.100%, 05/06/19............................. 4,000 4,022,544 Berkshire Hathaway, Inc. 1.550%, 02/09/18............................. 900 900,462 # 2.100%, 08/14/19............................. 4,100 4,122,521 Chevron Corp. 1.104%, 12/05/17............................. 2,800 2,781,069 1.718%, 06/24/18............................. 173 174,608 Coca-Cola Co. (The) 1.150%, 04/01/18............................. 1,500 1,484,736 1.650%, 11/01/18............................. 3,000 3,002,469 Exxon Mobil Corp. # 1.819%, 03/15/19............................. 3,300 3,312,243 General Electric Capital Corp. 1.625%, 04/02/18............................. 1,000 1,000,537 2.300%, 01/14/19............................. 4,700 4,779,421 International Business Machines Corp. # 1.950%, 02/12/19............................. 5,200 5,198,118 Johnson & Johnson 5.150%, 07/15/18............................. 1,930 2,178,603 1.650%, 12/05/18............................. 1,600 1,607,192 Microsoft Corp. # 1.625%, 12/06/18............................. 3,320 3,322,131 Pfizer, Inc. 1.500%, 06/15/18............................. 500 498,624 2.100%, 05/15/19............................. 5,250 5,276,323 Procter & Gamble Co. (The) 1.900%, 11/01/19............................. 800 795,896 Toyota Motor Credit Corp. 2.000%, 10/24/18............................. 500 504,607 # 2.100%, 01/17/19............................. 1,000 1,006,468 2.125%, 07/18/19............................. 4,250 4,254,943 Wal-Mart Stores, Inc. 1.950%, 12/15/18............................. 2,500 2,514,917 ------------ TOTAL UNITED STATES.............................. 55,745,331 ------------ TOTAL BONDS...................................... 194,676,155 ------------ AGENCY OBLIGATIONS -- (4.3%) Federal Home Loan Mortgage Corporation # 3.750%, 03/27/19............................. 700 762,772 1.250%, 08/01/19............................. 500 489,385 Federal National Mortgage Association # 1.625%, 11/27/18............................. 2,000 2,009,018 # 1.875%, 02/19/19............................. 1,800 1,823,292 # 1.750%, 06/20/19............................. 3,500 3,505,656 # 1.750%, 09/12/19............................. 1,000 999,398 ------------ TOTAL AGENCY OBLIGATIONS......................... 9,589,521 ------------ 33 VA GLOBAL BOND PORTFOLIO CONTINUED Shares Value+ ------ ------ (000) SECURITIES LENDING COLLATERAL -- (8.5%) (S)@ DFA Short Term Investment Fund............... 1,636,892 $ 18,938,838 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $222,574,291).............................. $223,204,514 ============ Summary of the Portfolio's investments as of October 31, 2014, 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......................... -- $ 20,206,794 -- $ 20,206,794 Austria........................... -- 5,062,125 -- 5,062,125 Canada............................ -- 21,914,311 -- 21,914,311 Denmark........................... -- 3,479,133 -- 3,479,133 Finland........................... -- 2,939,073 -- 2,939,073 France............................ -- 6,992,105 -- 6,992,105 Germany........................... -- 2,153,573 -- 2,153,573 Japan............................. -- 8,482,806 -- 8,482,806 Netherlands....................... -- 20,172,638 -- 20,172,638 Norway............................ -- 9,412,944 -- 9,412,944 Singapore......................... -- 5,787,292 -- 5,787,292 Supranational Organization Obligations..................... -- 11,994,685 -- 11,994,685 Sweden............................ -- 14,898,685 -- 14,898,685 United Kingdom.................... -- 5,434,660 -- 5,434,660 United States..................... -- 55,745,331 -- 55,745,331 Agency Obligations................. -- 9,589,521 -- 9,589,521 Securities Lending Collateral...... -- 18,938,838 -- 18,938,838 Forward Currency Contracts**....... -- 113,192 -- 113,192 -- ------------ -- ------------ TOTAL.............................. -- $223,317,706 -- $223,317,706 == ============ == ============ **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, 2014 Shares Value+ --------- ----------- AFFILIATED INVESTMENT COMPANIES -- (100.0%) Investment in U.S. Core Equity 2 Portfolio of DFA Investment Dimensions Group Inc................................. 1,092,317 $18,940,780 Investment in International Core Equity Portfolio of DFA Investment Dimensions Group Inc................................. 844,692 10,263,008 Investment in VA Global Bond Portfolio of DFA Investment Dimensions Group Inc................................. 729,370 7,964,720 Investment in DFA Selectively Hedged Global Fixed Income Portfolio of DFA Investment Dimensions Group Inc................................. 795,602 7,956,022 Investment in U.S. Core Equity 1 Portfolio of DFA Investment Dimensions Group Inc................................. 380,469 6,738,110 Investment in Emerging Markets Core Equity Portfolio of DFA Investment Dimensions Group Inc................................. 179,825 3,610,886 Investment in DFA Two-Year Global Fixed Income Portfolio of DFA Investment Dimensions Group Inc................................. 317,961 3,185,971 Investment in VA Short-Term Fixed Portfolio of DFA Investment Dimensions Group Inc................................. 311,739 3,185,971 Investment in VA U.S. Large Value Portfolio of DFA Investment Dimensions Group Inc................................. 55,797 1,309,564 Investment in VA International Value Portfolio of DFA Investment Dimensions Group Inc................................. 89,432 1,139,363 Investment in DFA Real Estate Securities Portfolio of DFA Investment Dimensions Group Inc................................. 20,954 675,566 ----------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANIES (Cost $60,273,853)............................................... 64,969,961 ----------- TEMPORARY CASH INVESTMENTS -- (0.0%) State Street Institutional Liquid Reserves, 0.077% (Cost $31,999)...................................................... 31,999 31,999 ----------- TOTAL INVESTMENTS -- (100.0%) (Cost $60,305,852)............................................... $65,001,960 =========== Summary of the Portfolio's investments as of October 31, 2014, 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.... $64,969,961 -- -- $64,969,961 Temporary Cash Investments......... 31,999 -- -- 31,999 ----------- -- -- ----------- TOTAL.............................. $65,001,960 -- -- $65,001,960 =========== == == =========== See accompanying Notes to Financial Statements. 35 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2014 (Amounts in thousands, except share and per share amounts) VA U.S. Targeted Value VA U.S. Large VA International Portfolio* Value Portfolio* Value Portfolio* -------------- ---------------- ---------------- ASSETS: Investments at Value (including $43,463, $27,854 and $8,113 of securities on loan, respectively)................................................... $ 201,012 $ 257,509 $ 163,753 Temporary Cash Investments at Value & Cost................................ 1,010 2,221 -- Collateral from Securities on Loan Invested in Affiliate at Value & Cost.. 42,672 27,100 8,374 Foreign Currencies at Value............................................... -- -- 230 Cash...................................................................... 473 -- 825 Receivables: Investment Securities Sold.............................................. 230 106 24 Dividends, Interest and Tax Reclaims.................................... 78 298 411 Securities Lending Income............................................... 13 4 6 Fund Shares Sold........................................................ 4,689 143 169 ------------ ------------ ------------ Total Assets......................................................... 250,177 287,381 173,792 ------------ ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned........................................ 42,672 27,100 8,374 Investment Securities Purchased......................................... 665 1,489 363 Fund Shares Redeemed.................................................... 4 19 9 Due to Advisor.......................................................... 56 52 54 Unrealized Loss on Foreign Currency Contracts............................. -- -- 3 Accrued Expenses and Other Liabilities.................................... 11 16 16 Total Liabilities.................................................... 43,408 28,676 8,819 ------------ ------------ ------------ NET ASSETS................................................................ $ 206,769 $ 258,705 $ 164,973 ============ ============ ============ SHARES OUTSTANDING, $0.01 PAR VALUE (1)................................... 10,723,123 11,021,755 12,952,927 ============ ============ ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE.................................................................... $ 19.28 $ 23.47 $ 12.74 ============ ============ ============ Investments at Cost....................................................... $ 161,178 $ 182,562 $ 162,704 ============ ============ ============ Foreign Currencies at Cost................................................ $ -- $ -- $ 233 ============ ============ ============ NET ASSETS CONSIST OF: Paid-In Capital........................................................... $ 155,984 $ 176,005 $ 161,296 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)....................................................... 1,260 3,483 6,098 Accumulated Net Realized Gain (Loss)...................................... 9,691 4,270 (3,458) Net Unrealized Foreign Exchange Gain (Loss)............................... -- -- (9) Net Unrealized Appreciation (Depreciation)................................ 39,834 74,947 1,046 NET ASSETS................................................................ $ 206,769 $ 258,705 $ 164,973 ============ ============ ============ (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, 2014 (Amounts in thousands, except share and per share amounts) DFA VA Global VA VA Short- Moderate International Term Fixed VA Global Allocation Small Portfolio* Portfolio Bond Portfolio Portfolio ---------------- ------------ -------------- ------------ ASSETS: Investments in Affiliated Investment Companies at Value............. -- -- -- $ 64,970 Investments at Value (including $17,386, $8,576, $18,539 and $0 of securities on loan, respectively)............................ $ 134,598 $ 187,891 $ 204,266 -- Temporary Cash Investments at Value & Cost.......................... -- 1,419 -- 32 Collateral from Securities on Loan Invested in Affiliate at Value & Cost............................................................... 18,143 8,761 18,939 -- Foreign Currencies at Value......................................... 370 -- 2 -- Cash................................................................ 694 402 2,498 -- Receivables: Investment Securities Sold........................................ -- -- 2,217 -- Dividends, Interest and Tax Reclaims.............................. 316 572 1,239 -- Securities Lending Income......................................... 17 1 2 -- Fund Shares Sold.................................................. 274 125 54 -- Unrealized Gain on Forward Currency Contracts....................... -- -- 113 -- ------------ ------------ ------------ ------------ Total Assets................................................... 154,412 199,171 229,330 65,002 ------------ ------------ ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned.................................. 18,143 8,761 18,939 -- Investment Securities Purchased................................... 669 608 3,301 -- Fund Shares Redeemed.............................................. 5 32 17 -- Due to Advisor.................................................... 56 40 39 2 Unrealized Loss on Foreign Currency Contracts....................... 13 -- -- -- Accrued Expenses and Other Liabilities.............................. 27 14 13 3 ------------ ------------ ------------ ------------ Total Liabilities.............................................. 18,913 9,455 22,309 5 ------------ ------------ ------------ ------------ NET ASSETS.......................................................... $ 135,499 $ 189,716 $ 207,021 $ 64,997 ============ ============ ============ ============ SHARES OUTSTANDING, $0.01 PAR VALUE (1)............................. 11,450,640 18,571,327 18,950,849 5,715,263 ============ ============ ============ ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE.......................................................... $ 11.83 $ 10.22 $ 10.92 $ 11.37 ============ ============ ============ ============ Investments in Affiliated Investment Companies at Cost.............. $ -- $ -- $ -- $ 60,274 ------------ ------------ ------------ ------------ Investments at Cost................................................. $ 126,222 $ 187,823 $ 203,635 $ -- ============ ============ ============ ============ Foreign Currencies at Cost.......................................... $ 375 $ -- $ 2 $ -- ============ ============ ============ ============ NET ASSETS CONSIST OF: Paid-In Capital..................................................... $ 122,277 $ 189,309 $ 202,089 $ 59,650 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)............................................. 1,898 244 3,867 394 Accumulated Net Realized Gain (Loss)................................ 2,959 95 330 257 Net Unrealized Foreign Exchange Gain (Loss)......................... (6) -- 104 -- Net Unrealized Appreciation (Depreciation).......................... 8,371 68 631 4,696 ------------ ------------ ------------ ------------ NET ASSETS.......................................................... $ 135,499 $ 189,716 $ 207,021 $ 64,997 ============ ============ ============ ============ (1) NUMBER OF SHARES AUTHORIZED..................................... 100,000,000 100,000,000 100,000,000 100,000,000 ============ ============ ============ ============ ---------- * See Note I in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 37 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2014 (Amounts in thousands) VA U.S. VA Targeted VA U.S. Large International Value Value Value Portfolio Portfolio Portfolio --------- ------------- ------------- Investment Income Dividends (Net of Foreign Taxes Withheld of $1, $0 and $435, respectively). $ 2,132 $ 4,554 $ 7,005 Income from Securities Lending............................................. 116 44 178 ------- ------- ------- Total Investment Income................................................. 2,248 4,598 7,183 ------- ------- ------- Expenses Investment Advisory Services Fees.......................................... 606 580 622 Accounting & Transfer Agent Fees........................................... 11 14 20 Custodian Fees............................................................. 11 6 42 Filing Fees................................................................ 3 5 4 Shareholders' Reports...................................................... 3 5 3 Directors'/Trustees' Fees & Expenses....................................... 1 2 1 Professional Fees.......................................................... 3 3 23 Other...................................................................... 7 3 4 ------- ------- ------- Total Expenses.......................................................... 645 618 719 ------- ------- ------- Fees Paid Indirectly....................................................... -- -- (1) ------- ------- ------- Net Expenses............................................................... 645 618 718 ------- ------- ------- Net Investment Income (Loss)............................................... 1,603 3,980 6,465 ------- ------- ------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold............................................... 14,257 4,386 (997) Foreign Currency Transactions............................................ -- -- (20) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency............................... 303 22,355 (8,345) Translation of Foreign Currency Denominated Amounts...................... -- -- (11) ------- ------- ------- Net Realized and Unrealized Gain (Loss).................................... 14,560 26,741 (9,373) ------- ------- ------- Net Increase (Decrease) in Net Assets Resulting from Operations.............. $16,163 $30,721 $(2,908) ======= ======= ======= See accompanying Notes to Financial Statements. 38 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2014 (Amounts in thousands) DFA VA VA Global International VA Short- VA Global Moderate Small Term Fixed Bond Allocation Portfolio Portfolio Portfolio Portfolio ------------- ---------- --------- ---------- Investment Income Income Distributions Received from Affiliated Investment Companies... -- -- -- $ 726 ------- ----- ------- ------ Total Net Investment Income Received from Affiliated Investment Companies......................................................... -- -- -- 726 ------- ----- ------- ------ Dividends (Net of Foreign Taxes Withheld of $270, $0, $0 and $0, respectively)....................................................... $ 3,196 -- -- -- Interest............................................................. -- $ 753 $ 2,965 -- Income from Securities Lending....................................... 243 9 15 -- ------- ----- ------- ------ Total Investment Income........................................... 3,439 762 2,980 -- ------- ----- ------- ------ Expenses Investment Advisory Services Fees.................................... 667 408 419 129 Accounting & Transfer Agent Fees..................................... 18 10 11 21 Custodian Fees....................................................... 85 5 10 1 Filing Fees.......................................................... 3 6 5 2 Shareholders' Reports................................................ 3 3 4 5 Directors'/Trustees' Fees & Expenses................................. 1 1 1 -- Professional Fees.................................................... 3 3 3 6 Organizational & Offering Costs...................................... -- -- -- 41 Other................................................................ 6 2 2 -- ------- ----- ------- ------ Total Expenses.................................................... 786 438 455 205 ------- ----- ------- ------ Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor (Note C).................................. -- -- -- (134) Fees Paid Indirectly................................................. (1) -- (2) -- ------- ----- ------- ------ Net Expenses......................................................... 785 438 453 71 ------- ----- ------- ------ Net Investment Income (Loss)......................................... 2,654 324 2,527 655 ------- ----- ------- ------ Realized and Unrealized Gain (Loss) Capital Gain Distributions Received from Affiliated Investment Companies........................................................... -- -- -- 297 Net Realized Gain (Loss) on: Investment Securities Sold......................................... 3,035 121 2,570 (12) Foreign Currency Transactions...................................... (46) -- (533) -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency......................... (7,114) (108) (1,044) 1,665 Translation of Foreign Currency Denominated Amounts................ (7) -- 61 -- ------- ----- ------- ------ Net Realized and Unrealized Gain (Loss).............................. (4,132) 13 1,054 1,950 ------- ----- ------- ------ Net Increase (Decrease) in Net Assets Resulting from Operations........ $(1,478) $ 337 $ 3,581 $2,605 ======= ===== ======= ====== 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 Value VA U.S. Large Value Portfolio Portfolio --------------------- ------------------ Year Year Year Year Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2014 2013 -------- -------- -------- -------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss).......................................... $ 1,603 $ 1,610 $ 3,980 $ 3,064 Net Realized Gain (Loss) on: Investment Securities Sold.......................................... 14,257 8,116 4,386 19,286 Futures............................................................. -- 14 -- -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities............................................... 303 34,514 22,355 30,264 -------- -------- -------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations.... 16,163 44,254 30,721 52,614 -------- -------- -------- -------- Distributions From: Net Investment Income................................................. (1,253) (1,513) (2,914) (2,749) Net Long-Term Gains................................................... -- -- (16,668) -- -------- -------- -------- -------- Total Distributions................................................ (1,253) (1,513) (19,582) (2,749) -------- -------- -------- -------- Capital Share Transactions (1): Shares Issued......................................................... 76,532 41,539 63,502 40,912 Shares Issued in Lieu of Cash Distributions........................... 1,253 1,513 19,582 2,749 Shares Redeemed....................................................... (47,247) (27,317) (35,641) (44,449) -------- -------- -------- -------- Net Increase (Decrease) from Capital Share Transactions............ 30,538 15,735 47,443 (788) -------- -------- -------- -------- Total Increase (Decrease) in Net Assets............................ 45,448 58,476 58,582 49,077 Net Assets.............................................................. Beginning of Year..................................................... 161,321 102,845 200,123 151,046 -------- -------- -------- -------- End of Year........................................................... $206,769 $161,321 $258,705 $200,123 ======== ======== ======== ======== (1) Shares Issued and Redeemed: Shares Issued......................................................... 4,019 2,689 2,807 2,039 Shares Issued in Lieu of Cash Distributions........................... 70 119 933 162 Shares Redeemed....................................................... (2,514) (1,836) (1,579) (2,278) -------- -------- -------- -------- Net Increase (Decrease) from Shares Issued and Redeemed............ 1,575 972 2,161 (77) ======== ======== ======== ======== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)..................................................... $ 1,260 $ 826 $ 3,483 $ 2,417 See accompanying Notes to Financial Statements. 40 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (Amounts in thousands) VA International Value VA International Small Portfolio Portfolio --------------------- --------------------- Year Year Year Year Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2014 2013 -------- -------- -------- -------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss).......................................... $ 6,465 $ 3,316 $ 2,654 $ 2,333 Net Realized Gain (Loss) on: Investment Securities Sold.......................................... (997) 839 3,035 3,779 Foreign Currency Transactions....................................... (20) (28) (46) (33) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.......................... (8,345) 22,926 (7,114) 20,645 Translation of Foreign Currency Denominated Amounts................. (11) 5 (7) 4 -------- -------- -------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations.... (2,908) 27,058 (1,478) 26,728 -------- -------- -------- -------- Distributions From: Net Investment Income................................................. (3,420) (3,195) (2,639) (2,169) Net Short-Term Gains.................................................. -- -- (812) -- Net Long-Term Gains................................................... -- -- (2,793) (1,449) -------- -------- -------- -------- Total Distributions................................................ (3,420) (3,195) (6,244) (3,618) -------- -------- -------- -------- Capital Share Transactions (1): Shares Issued......................................................... 50,408 31,167 40,146 33,809 Shares Issued in Lieu of Cash Distributions........................... 3,420 3,195 6,244 3,618 Shares Redeemed....................................................... (20,435) (19,474) (23,096) (27,214) -------- -------- -------- -------- Net Increase (Decrease) from Capital Share Transactions............ 33,393 14,888 23,294 10,213 -------- -------- -------- -------- Total Increase (Decrease) in Net Assets............................ 27,065 38,751 15,572 33,323 Net Assets Beginning of Year..................................................... 137,908 99,157 119,927 86,604 -------- -------- -------- -------- End of Year........................................................... $164,973 $137,908 $135,499 $119,927 ======== ======== ======== ======== (1) Shares Issued and Redeemed: Shares Issued....................................................... 3,789 2,635 3,200 3,051 Shares Issued in Lieu of Cash Distributions......................... 271 295 528 364 Shares Redeemed..................................................... (1,542) (1,660) (1,836) (2,495) -------- -------- -------- -------- Net Increase (Decrease) from Shares Issued and Redeemed............ 2,518 1,270 1,892 920 ======== ======== ======== ======== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)..................................................... $ 6,098 $ 3,031 $ 1,898 $ 1,857 See accompanying Notes to Financial Statements. 41 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (Amounts in thousands) VA Short-Term Fixed VA Global Bond DFA VA Global Moderate Portfolio Portfolio Allocation Portfolio ------------------ ------------------ --------------------- Period April 8, Year Year Year Year Year 2013(a) Ended Ended Ended Ended Ended to Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2014 2013 2014 2013 -------- -------- -------- -------- -------- -------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)........................... $ 324 $ 386 $ 2,527 $ 1,574 $ 655 $ 241 Capital Gain Distributions Received from Affiliated Investment Companies.................................. -- -- -- -- 297 -- Net Realized Gain (Loss) on: Investment Securities Sold........................... 121 110 2,570 2,995 (12) 108 Foreign Currency Transactions........................ -- -- (533) (2,051) -- -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency........... (108) (126) (1,044) (2,110) 1,665 3,031 Translation of Foreign Currency Denominated Amounts............................................. -- -- 61 645 -- -- -------- -------- -------- -------- ------- ------- Net Increase (Decrease) in Net Assets Resulting from Operations.................................... 337 370 3,581 1,053 2,605 3,380 -------- -------- -------- -------- ------- ------- Distributions From: Net Investment Income.................................. (382) (475) (767) (2,291) (537) -- Net Short-Term Gains................................... (85) (121) (345) (242) (110) -- Net Long-Term Gains.................................... (42) (132) (2,067) (1,667) -- -- -------- -------- -------- -------- ------- ------- Total Distributions................................. (509) (728) (3,179) (4,200) (647) -- -------- -------- -------- -------- ------- ------- Capital Share Transactions (1): Shares Issued.......................................... 70,926 47,780 55,701 57,493 23,383 37,150 Shares Issued in Lieu of Cash Distributions............ 509 728 3,179 4,200 647 -- Shares Redeemed........................................ (19,453) (22,284) (19,554) (32,443) (1,474) (47) -------- -------- -------- -------- ------- ------- Net Increase (Decrease) from Capital Share Transactions....................................... 51,982 26,224 39,326 29,250 22,556 37,103 -------- -------- -------- -------- ------- ------- Total Increase (Decrease) in Net Assets............. 51,810 25,866 39,728 26,103 24,514 40,483 Net Assets Beginning of Period.................................... 137,906 112,040 167,293 141,190 40,483 -- -------- -------- -------- -------- ------- ------- End of Period.......................................... $189,716 $137,906 $207,021 $167,293 $64,997 $40,483 ======== ======== ======== ======== ======= ======= (1) Shares Issued and Redeemed: Shares Issued.......................................... 6,947 4,675 5,148 5,272 2,075 3,716 Shares Issued in Lieu of Cash Distributions............ 50 71 297 385 60 -- Shares Redeemed........................................ (1,906) (2,181) (1,809) (2,972) (131) (5) -------- -------- -------- -------- ------- ------- Net Increase (Decrease) from Shares Issued and Redeemed............................................ 5,091 2,565 3,636 2,685 2,004 3,711 ======== ======== ======== ======== ======= ======= Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)..................... $ 244 $ 302 $ 3,867 $ 424 $ 394 $ 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, 2014 2013 2012 2011 2010 2014 ------------------------------------------------------------------------------------------------------------------------ Net Asset Value, Beginning of Year........................... $ 17.63 $ 12.58 $ 10.95 $ 10.40 $ 8.27 $ 22.58 -------- -------- -------- ------- ------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.17 0.19 0.12 0.09 0.07 0.39 Net Gains (Losses) on Securities (Realized and Unrealized). 1.62 5.05 1.60 0.53 2.15 2.67 -------- -------- -------- ------- ------- -------- Total from Investment Operations.......................... 1.79 5.24 1.72 0.62 2.22 3.06 ------------------------------------------------------------------------------------------------------------------------ Less Distributions ------------------ Net Investment Income...................................... (0.14) (0.19) (0.09) (0.07) (0.09) (0.32) Net Realized Gains......................................... -- -- -- -- -- (1.85) -------- -------- -------- ------- ------- -------- Total Distributions....................................... (0.14) (0.19) (0.09) (0.07) (0.09) (2.17) ------------------------------------------------------------------------------------------------------------------------ Net Asset Value, End of Year................................. $ 19.28 $ 17.63 $ 12.58 $ 10.95 $ 10.40 $ 23.47 ============================================================= ======== ======== ======== ======== ======== ======== Total Return................................................. 10.19% 42.19% 15.82% 5.94% 27.00% 14.73% ------------------------------------------------------------------------------------------------------------------------ Net Assets, End of Year (thousands).......................... $206,769 $161,321 $102,845 $88,845 $93,851 $258,705 Ratio of Expenses to Average Net Assets...................... 0.37% 0.39% 0.41% 0.40% 0.42% 0.27% Ratio of Net Investment Income to Average Net Assets......... 0.93% 1.28% 1.00% 0.82% 0.68% 1.71% Portfolio Turnover Rate...................................... 21% 15% 21% 14% 32% 19% ------------------------------------------------------------------------------------------------------------------------ VA U.S. Large 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 Year........................... $ 16.90 $ 14.60 $ 14.09 $ 11.94 -------- -------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.35 0.30 0.24 0.25 Net Gains (Losses) on Securities (Realized and Unrealized). 5.64 2.26 0.52 2.12 -------- -------- -------- -------- Total from Investment Operations.......................... 5.99 2.56 0.76 2.37 ----------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.31) (0.26) (0.25) (0.22) Net Realized Gains......................................... -- -- -- -- -------- -------- -------- -------- Total Distributions....................................... (0.31) (0.26) (0.25) (0.22) ----------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 22.58 $ 16.90 $ 14.60 $ 14.09 ============================================================= ======== ======== ======== ======== Total Return................................................. 36.04% 17.87% 5.37% 20.08% ----------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $200,123 $151,046 $123,893 $122,672 Ratio of Expenses to Average Net Assets...................... 0.28% 0.30% 0.29% 0.30% Ratio of Net Investment Income to Average Net Assets......... 1.78% 1.92% 1.59% 1.87% Portfolio Turnover Rate...................................... 29% 12% 15% 33% ----------------------------------------------------------------------------------------------------- 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, 2014 2013 2012 2011 2010 ---------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year....................................... $ 13.22 $ 10.82 $ 10.87 $ 12.07 $ 11.22 -------- -------- ------- ------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)....................................... 0.55 0.34 0.37 0.37 0.25 Net Gains (Losses) on Securities (Realized and Unrealized)............. (0.71) 2.41 (0.02) (1.32) 0.89 -------- -------- ------- ------- -------- Total from Investment Operations...................................... (0.16) 2.75 0.35 (0.95) 1.14 ---------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income.................................................. (0.32) (0.35) (0.40) (0.25) (0.29) Net Realized Gains..................................................... -- -- -- -- -- -------- -------- ------- ------- -------- Total Distributions................................................... (0.32) (0.35) (0.40) (0.25) (0.29) ---------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year............................................. $ 12.74 $ 13.22 $ 10.82 $ 10.87 $ 12.07 ========================================================================= ======== ======== ======== ======== ======== Total Return............................................................. (1.16)% 26.10% 3.57% (8.08)% 10.35% ---------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)...................................... $164,973 $137,908 $99,157 $93,450 $103,601 Ratio of Expenses to Average Net Assets.................................. 0.46% 0.47% 0.50% 0.49% 0.50% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly). 0.46% 0.47% 0.50% 0.49% 0.50% Ratio of Net Investment Income to Average Net Assets..................... 4.16% 2.90% 3.56% 3.02% 2.28% Portfolio Turnover Rate.................................................. 16% 14% 17% 19% 21% ---------------------------------------------------------------------------------------------------------------------------- VA International Small Portfolio ----------------------------------------------- Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2012 2011 2010 -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year....................................... $ 12.55 $ 10.02 $ 10.20 $ 10.62 $ 9.20 -------- -------- ------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)....................................... 0.25 0.26 0.24 0.25 0.18 Net Gains (Losses) on Securities (Realized and Unrealized)............. (0.33) 2.69 0.28 (0.45) 1.42 -------- -------- ------- ------- ------- Total from Investment Operations...................................... (0.08) 2.95 0.52 (0.20) 1.60 -------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income.................................................. (0.27) (0.25) (0.31) (0.22) (0.18) Net Realized Gains..................................................... (0.37) (0.17) (0.39) -- -- -------- -------- ------- ------- ------- Total Distributions................................................... (0.64) (0.42) (0.70) (0.22) (0.18) -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year............................................. $ 11.83 $ 12.55 $ 10.02 $ 10.20 $ 10.62 ========================================================================= ======== ======== ======== ======== ======== Total Return............................................................. (0.59)% 30.50% 6.05% (2.03)% 17.68% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)...................................... $135,499 $119,927 $86,604 $75,790 $78,148 Ratio of Expenses to Average Net Assets.................................. 0.59% 0.65% 0.63% 0.62% 0.63% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly). 0.59% 0.65% 0.63% 0.62% 0.63% Ratio of Net Investment Income to Average Net Assets..................... 1.99% 2.36% 2.51% 2.26% 1.87% Portfolio Turnover Rate.................................................. 8% 12% 13% 13% 9% -------------------------------------------------------------------------------------------------------------------------- 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, 2014 2013 2012 2011 2010 --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year....................................... $ 10.23 $ 10.26 $ 10.25 $ 10.31 $ 10.42 -------- -------- -------- -------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)....................................... 0.02 0.03 0.04 0.04 0.06 Net Gains (Losses) on Securities (Realized and Unrealized)............. 0.01 -- 0.04 0.01 0.05 -------- -------- -------- -------- ------- Total from Investment Operations...................................... 0.03 0.03 0.08 0.05 0.11 --------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income.................................................. (0.03) (0.04) (0.04) (0.06) (0.16) Net Realized Gains..................................................... (0.01) (0.02) (0.03) (0.05) (0.06) -------- -------- -------- -------- ------- Total Distributions................................................... (0.04) (0.06) (0.07) (0.11) (0.22) --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year............................................. $ 10.22 $ 10.23 $ 10.26 $ 10.25 $ 10.31 ========================================================================= ======== ======== ======== ======== ======== Total Return............................................................. 0.25% 0.35% 0.73% 0.42% 1.09% --------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)...................................... $189,716 $137,906 $112,040 $115,501 $89,166 Ratio of Expenses to Average Net Assets.................................. 0.27% 0.29% 0.30% 0.29% 0.30% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly). 0.27% 0.29% 0.30% 0.29% 0.30% Ratio of Net Investment Income to Average Net Assets..................... 0.20% 0.32% 0.42% 0.42% 0.60% Portfolio Turnover Rate.................................................. 70% 55% 85% 66% 79% --------------------------------------------------------------------------------------------------------------------------- VA Global Bond Portfolio ------------------------------------------------ Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2012 2011 2010 --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year....................................... $ 10.92 $ 11.18 $ 11.28 $ 11.82 $ 11.44 -------- -------- -------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)....................................... 0.15 0.11 0.18 0.23 0.30 Net Gains (Losses) on Securities (Realized and Unrealized)............. 0.05 (0.04) 0.25 0.06 0.54 -------- -------- -------- -------- -------- Total from Investment Operations...................................... 0.20 0.07 0.43 0.29 0.84 --------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income.................................................. (0.05) (0.18) (0.30) (0.49) (0.46) Net Realized Gains..................................................... (0.15) (0.15) (0.23) (0.34) -- -------- -------- -------- -------- -------- Total Distributions................................................... (0.20) (0.33) (0.53) (0.83) (0.46) --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year............................................. $ 10.92 $ 10.92 $ 11.18 $ 11.28 $ 11.82 ========================================================================= ======== ======== ======== ======== ======== Total Return............................................................. 1.90% 0.63% 3.97% 2.77% 7.61% --------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)...................................... $207,021 $167,293 $141,190 $131,212 $107,954 Ratio of Expenses to Average Net Assets.................................. 0.25% 0.27% 0.29% 0.29% 0.31% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly). 0.25% 0.27% 0.29% 0.29% 0.31% Ratio of Net Investment Income to Average Net Assets..................... 1.37% 1.04% 1.61% 2.10% 2.64% Portfolio Turnover Rate.................................................. 75% 73% 63% 71% 80% --------------------------------------------------------------------------------------------------------------------------- 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 -------------------- Year Period Ended April 8, 2013(a) Oct. 31, to 2014 Oct. 31, 2013 ---------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................ $ 10.91 $ 10.00 ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.14 0.07 Net Gains (Losses) on Securities (Realized and Unrealized). 0.49 0.84 ------- ------- Total from Investment Operations......................... 0.63 0.91 ---------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.14) -- Net Realized Gains......................................... (0.03) -- ------- ------- Total Distributions...................................... (0.17) -- ---------------------------------------------------------------------------------------- Net Asset Value, End of Period.............................. $ 11.37 $ 10.91 =========================================================== ======== ================ Total Return................................................ 5.87% 9.10%(D) ---------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)....................... $64,997 $40,483 Ratio of Expenses to Average Net Assets(B).................. 0.40% 0.40%(C)(E) Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor)(B).............................. 0.66% 0.93%(C)(E) Ratio of Net Investment Income to Average Net Assets........ 1.27% 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-seven operational portfolios, seven of which (the "Portfolios") are included in this report. The remaining seventy 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 Fund of Funds 31, 2014 ------------- - ---------- 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 4% U.S. Core Equity 1 Portfolio --* Emerging Markets Core Equity Portfolio --* DFA Two-Year Global Fixed Income Portfolio --* VA Short-Term Fixed Portfolio 2% VA U.S. Large Value Portfolio 1% 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) 47 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 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 ask prices which approximates 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, 2:00 a.m. ET), which is fourteen hours before the close of the NYSE (normally, 4:00 p.m. ET) 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 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 of Directors/Trustees. 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- 48 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 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, 2014, there were no significant transfers between Level 1 and Level 2 and no significant 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 49 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, 2014, 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. 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, 2014, 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 (the "Fee Waiver 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 Agreement will remain in effect through February 28, 2015, and may only be terminated by the Fund's Board of Directors prior to that date. The Fee Waiver Agreement shall continue in effect from year to year thereafter unless terminated by the Fund or the Advisor. 50 Earned Income Credit: In addition, certain Portfolios have entered into arrangements with their 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, 2014, expenses reduced were as follows (amounts in thousands): Fees Paid Indirectly ---------- VA International Value Portfolio. $1 VA International Small Portfolio. 1 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, 2014, the total related amounts paid by the Fund to the CCO were $262 (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, 2014, 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............ $ 4 VA U.S. Large Value Portfolio............... 5 VA International Value Portfolio............ 4 VA International Small Portfolio............ 3 VA Short-Term Fixed Portfolio............... 5 VA Global Bond Portfolio.................... 5 DFA VA Global Moderate Allocation Portfolio. -- E. Purchases and Sales of Securities: For the year ended October 31, 2014, 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. -- -- $ 65,208 $ 37,040 VA U.S. Large Value Portfolio.... -- -- 75,733 44,282 VA International Value Portfolio. -- -- 58,312 24,917 VA International Small Portfolio. -- -- 31,411 10,340 VA Short-Term Fixed Portfolio.... $37,717 $27,351 102,027 69,024 VA Global Bond Portfolio......... 12,544 9,614 162,322 127,760 51 For the year ended October 31, 2014, 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 10/31/2013 10/31/2014 Purchases Sales Income Realized Gains ------------------------------- ---------- ---------- --------- ------ -------- ---------------- U.S. Core Equity 2 Portfolio........... $11,748 $18,941 $ 6,065 $ 370 $212 $120 International Core Equity Portfolio.... 6,433 10,263 4,330 68 227 -- VA Global Bond Portfolio............... 5,030 7,965 3,323 417 23 74 DFA Selectively Hedged Global Fixed Income Portfolio..................... 4,967 7,956 3,399 263 63 8 U.S. Core Equity 1 Portfolio........... 4,221 6,738 1,952 37 77 19 Emerging Markets Core Equity Portfolio. 2,096 3,611 1,509 9 56 -- DFA Two-Year Global Fixed Income Portfolio............................ 1,985 3,186 1,323 115 18 2 VA Short-Term Fixed Portfolio.......... 1,983 3,186 1,315 112 5 2 VA U.S. Large Value Portfolio.......... 873 1,309 388 2 12 72 VA International Value Portfolio....... 764 1,139 421 -- 19 -- DFA Real Estate Securities Portfolio... 353 676 244 12 14 -- ------- ------- ------- ------ ---- ---- Total.................................. $40,453 $64,970 $24,269 $1,405 $726 $297 ======= ======= ======= ====== ==== ==== 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, 2014, 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............ -- $ 84 $ (84) VA U.S. Large Value Portfolio............... -- -- -- VA International Value Portfolio............ -- 22 (22) VA International Small Portfolio............ -- 26 (26) VA Short-Term Fixed Portfolio............... -- -- -- VA Global Bond Portfolio.................... -- 1,683 (1,683) DFA VA Global Moderate Allocation Portfolio. -- 26 (26) 52 The tax character of dividends and distributions declared and paid during the years ended October 31, 2013 and October 31, 2014 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 2013........................................ $1,513 -- $ 1,513 2014........................................ 1,253 -- 1,253 VA U.S. Large Value Portfolio 2013........................................ 2,749 -- 2,749 2014........................................ 2,914 $16,668 19,582 VA International Value Portfolio 2013........................................ 3,195 -- 3,195 2014........................................ 3,420 -- 3,420 VA International Small Portfolio 2013........................................ 2,169 1,449 3,618 2014........................................ 3,450 2,793 6,243 VA Short-Term Fixed Portfolio 2013........................................ 596 132 728 2014........................................ 467 42 509 VA Global Bond Portfolio 2013........................................ 2,533 1,667 4,200 2014........................................ 1,112 2,067 3,179 DFA VA Global Moderate Allocation Portfolio 2013........................................ -- -- -- 2014........................................ 648 -- 648 DFA VA Global Moderate Allocation Portfolio commenced operations on April 8, 2013, and did not pay any distributions for the year ended October 31, 2013. At October 31, 2014, 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 Carryforward (Depreciation) Losses) -------------- ------------- ------------ -------------- ------------- VA U.S. Targeted Value Portfolio.. $1,267 $9,989 -- $39,532 $50,788 VA U.S. Large Value Portfolio..... 3,695 4,141 -- 74,869 82,705 VA International Value Portfolio.. 6,163 -- $(3,225) 743 3,681 VA International Small Portfolio.. 3,247 2,383 -- 7,596 13,226 VA Short-Term Fixed Portfolio..... 275 69 -- 67 411 VA Global Bond Portfolio.......... 4,008 237 -- 693 4,938 DFA VA Global Moderate Allocation Portfolio....................... 396 271 -- 4,680 5,347 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, 2014, 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, ---------------------- 2017 Unlimited Total ------ --------- ------ VA U.S. Targeted Value Portfolio............ -- -- -- VA U.S. Large Value Portfolio............... -- -- -- VA International Value Portfolio............ $2,412 $813 $3,225 VA International Small Portfolio............ -- -- -- VA Short-Term Fixed Portfolio............... -- -- -- VA Global Bond Portfolio.................... -- -- -- DFA VA Global Moderate Allocation Portfolio. -- -- -- During the year ended October 31, 2014, 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. $4,181 At October 31, 2014, 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, as follows (amounts in thousands): Net Unrealized Federal Tax Unrealized Unrealized Appreciation Cost Appreciation Depreciation (Depreciation) ----------- ------------ ------------ -------------- VA U.S. Targeted Value Portfolio............ $205,162 $52,667 $(13,135) $39,532 VA U.S. Large Value Portfolio............... 211,962 77,841 (2,973) 74,868 VA International Value Portfolio............ 171,375 17,570 (16,818) 752 VA International Small Portfolio............ 145,146 29,919 (22,324) 7,595 VA Short-Term Fixed Portfolio............... 198,003 129 (61) 68 VA Global Bond Portfolio.................... 222,574 1,256 (625) 631 DFA VA Global Moderate Allocation Portfolio. 60,322 4,876 (196) 4,680 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 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. 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 54 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. 2. 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, 2014, 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 Value at Foreign Settlement Currency Contract October 31, Exchange Date Amount** Currency Amount 2014 Gain (Loss) ---------- -------- ------------------ -------- ----------- ----------- 12/12/14 (7,431) Singapore Dollar (1) $ (5,856) $ (5,784) $ 72 12/02/14 762 UK Pound Sterling (2) 1,220 1,220 -- 12/02/14 (11,361) UK Pound Sterling (2) (18,212) (18,171) 41 -------- -------- ---- $(22,848) $(22,735) $113 ======== ======== ==== Counterparties: (1) State Street Bank and Trust (2) Citibank, N.A. * During the year ended October 31, 2014, the VA Global Bond Portfolio's average contract amount of forward currency contracts was $41,363 (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. The following is a summary of the location of derivatives on the VA Global Bond Portfolio's Statement of Assets and Liabilities as of October 31, 2014 (amounts in thousands): Location on the Statement of Assets and Liabilities --------------------------------------------------- Derivative Type Asset Derivatives Liability Derivatives --------------- ------------------------ ------------------------ Foreign exchange Unrealized Gain on Unrealized Loss on contracts Forward Forward Currency Currency Contracts Contracts 55 The following is a summary of the VA Global Bond Portfolio's derivative instrument holdings categorized by primary risk exposure as of October 31, 2014 (amounts in thousands): Asset Derivatives Value -------------------------- Total Value Foreign at Exchange October 31, 2014 Contracts - ---------------- --------- VA Global Bond Portfolio. $113 $113 The following is a summary of the location on the VA Global Bond Portfolio's Statement of Operations of realized and change in unrealized gains and losses from the Portfolio's derivative instrument holdings through the year ended October 31, 2014: 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 derivative instrument holdings categorized by primary risk exposure through the year ended October 31, 2014 (amounts in thousands): Realized Gain (Loss) on Derivatives Recognized in Income ------------------------------- Foreign Exchange Total Contracts ----- --------- VA Global Bond Portfolio. $(541) $(541) Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income ------------------------------- Foreign Exchange Total Contracts ----- --------- VA Global Bond Portfolio. $ 82 $ 82 Offsetting of Derivative Assets and Derivative Liabilities The following table presents the VA Global Bond Portfolio's gross and net amount of assets and liabilities available for offset under netting arrangements as well as any related collateral received or pledged by the Portfolio as of October 31, 2014 (Amounts in thousands): Gross Amounts Not Gross Amounts Not Offset in the Statements Offset in the Statements of Assets and Liabilities of Assets and Liabilities Gross ------------------------- Gross ------------------------- Amounts of Cash Amounts of Cash Recognized Financial Collateral Net Recognized Financial Collateral Net Description Assets(a) Instruments(b) Received Amount(c) Liabilities(a) Instruments(d) Pledged Amount(e) ----------- ---------- -------------- ---------- --------- -------------- -------------- ---------- --------- Assets Liabilities ---------------------------------------------- -------------------------------------------------- VA Global Bond Portfolio Forward Currency Contracts. $113 -- -- $113 -- -- -- -- (a)No amounts have been netted against the gross amounts recognized in the Statements of Assets and Liabilities. 56 (b)Represents the amount of assets that could be offset by liabilities with the same counterparty under master netting or similar agreements that management elects not to offset on the Statements of Assets and Liabilities. (c)Represents the net amount due from counterparties in the event of default. (d)Represents the amount of liabilities that could be offset by assets with the same counterparty under master netting or similar agreements that management elects not to offset on the Statements of Assets and Liabilities. (e)Represents the net amount due to counterparties in the event of default. Note I contains information regarding securities lending amounts that are subject to netting arrangements. H. 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 agreement for the line of credit expires on March 2, 2015. The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit 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 line of credit agreement expires on January 9, 2015. For the year ended October 31, 2014, 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 ------------- ------------ ------------ -------- --------------- VA U.S. Targeted Value Portfolio.. 0.84% $6,197 17 $ 2 $14,912 VA U.S. Large Value Portfolio..... 0.84% 319 21 -- 750 VA International Value Portfolio.. 0.84% 389 22 -- 748 VA International Small Portfolio.. 0.84% 492 18 -- 1,401 DFA VA Global Moderate Allocation Portfolio....................... 0.85% 208 9 -- 459 * Number of Days Outstanding represents the total of single or consecutive days during the year ended October 31, 2014, 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, 2014. I. Securities Lending: As of October 31, 2014, 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 ------ VA U.S. Targeted Value Portfolio. $1,171 VA U.S. Large Value Portfolio.... 843 VA International Value Portfolio. 102 VA International Small Portfolio. 506 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. In the event of the bankruptcy of the borrower, a Portfolio could experience delay in recovering the loaned securities or only recover cash or a security of equivalent value. 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. Other: At October 31, 2014, 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 - ------------ ------------- VA U.S. Targeted Value Portfolio............ 4 81% VA U.S. Large Value Portfolio............... 3 80% VA International Value Portfolio............ 4 78% VA International Small Portfolio............ 5 78% VA Short-Term Fixed Portfolio............... 5 91% VA Global Bond Portfolio.................... 3 83% DFA VA Global Moderate Allocation Portfolio. 4 99% 58 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, described below, 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. Oral argument on the appeal was held on Novemeber 5, 2014, and the parties await the Second Circuit's ruling. The Committee Action remains pending, and a motion to dismiss on behalf of all shareholder defendants in the Committee Action was filed on May 23, 2014. The motion to dismiss is fully-briefed, and the parties await the scheduling of oral argument on the motion. The Committee Action is stayed pending the disposition of the motion to dismiss. Litigation counsel to the VA U.S. Large Value Portfolio in the Lawsuits has advised management that it 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 quantify the cost of the Lawsuits that could potentially be 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. L. 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 Board of Directors of DFA Investment Dimensions Group Inc. and Shareholders of the Portfolios, as defined: 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, 2014, 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, 2014 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 19, 2014 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 Strategy Committee (the "Strategy 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, 2014. 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, 2014. Each Board's Strategy Committee consists of both interested and disinterested Trustees/Directors. The Strategy Committee is comprised of John P. Gould, Edward P. Lazear, Myron S. Scholes and Eduardo A. Repetto. The Strategy 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 Strategy 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 Strategy Committee was formed on December 17, 2010, and there were two Strategy Committee meetings held during the fiscal year ended October 31, 2014. 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 DFA Principal Occupation(s) During Past 5 with the Fund, Address and Term of Office/1/ and Fund Complex/2/ Years and Other Directorships of Public Year of Birth Length of Service Overseen Companies Held ------------------------------------------------------------------------------------------------------------------------ Disinterested Trustees/Directors ------------------------------------------------------------------------------------------------------------------------ George M. Constantinides DFAIDG-Since 1983 108 portfolios in 4 Leo Melamed Professor of Finance, Director of DFAIDG and DIG. DIG-Since 1993 investment companies University of Chicago Booth School of Trustee of DFAITC and DEM. DFAITC-Since 1992 Business. The University of Chicago DEM-Since 1993 Booth School of Business 5807 S. Woodlawn Avenue Chicago, IL 60637 1947 ------------------------------------------------------------------------------------------------------------------------ John P. Gould DFAIDG-Since 1986 108 portfolios in 4 Steven G. Rothmeier Professor and Director of DFAIDG and DIG. DIG-Since 1993 investment companies Distinguished Service Professor of Trustee of DFAITC and DEM DFAITC-Since 1992 Economics, University of Chicago Booth The University of Chicago DEM-Since 1993 School of Business (since 1965). Member Booth School of Business and Chair, Competitive Markets Advisory 5807 S. Woodlawn Avenue Council, Chicago Mercantile Exchange Chicago, IL 60637 (futures trading exchange) (since 1939 2004). Trustee, Harbor Fund (registered investment company) (29 Portfolios) (since 1994). Formerly, Member of the Board of Milwaukee Insurance Company (1997-2010). ------------------------------------------------------------------------------------------------------------------------ Roger G. Ibbotson DFAIDG-Since 1981 108 portfolios in 4 Professor in Practice of Finance, Yale Director of DFAIDG and DIG. DIG-Since 1993 investment companies School of Management (since 1984). Trustee of DFAITC and DEM. DFAITC-Since 1992 Chairman, CIO and Partner, Zebra Yale School of Management DEM-Since 1993 Capital Management, LLC (hedge fund and P.O. Box 208200 asset manager) (since 2001). Consultant New Haven, CT 06520-8200 to Morningstar Inc. (since 2006). 1943 Formerly, Director, BIRR Portfolio Analysis, Inc. (software products) (1990-2010). ------------------------------------------------------------------------------------------------------------------------ Edward P. Lazear DFAIDG-Since 2010 108 portfolios in 4 Morris Arnold Cox Senior Fellow, Hoover Director of DFAIDG and DIG. DIG-Since 2010 investment companies Institution (since 2002). Jack Steele Trustee of DFAITC and DEM. DFAITC-Since 2010 Parker Professor of Human Resources Stanford University Graduate DEM-Since 2010 Management and Economics, Graduate School of Business School of Business, Stanford University 518 Memorial Way (since 1995). Cornerstone Research Stanford, CA 94305-5015 (expert testimony and economic and 1948 financial analysis) (since 2009). Formerly, 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 DFAIDG-Since 1981 108 portfolios in 4 Chief Investment Strategist, Janus Director of DFAIDG and DIG. DIG-Since 1993 investment companies Capital Group Inc. (since 2014). Frank Trustee of DFAITC and DEM. DFAITC-Since 1992 E. Buck Professor of Finance Emeritus, c/o Dimensional Fund DEM-Since 1993 Graduate School of Business, Stanford Advisors, LP University (since 1981). Chairman, 6300 Bee Cave Road Ruapay Inc. (since 2013). Formerly, Building 1 Chairman, Platinum Grove Asset Austin, TX 78746 Management, L.P. (hedge fund) 1941 (formerly, Oak Hill Platinum Partners) (1999-2009). Formerly, Director, American Century Fund Complex (registered investment companies) (43 Portfolios) (1980-2014). ------------------------------------------------------------------------------------------------------------------------ Abbie J. Smith DFAIDG-Since 2000 108 portfolios in 4 Boris and Irene Stern Distinguished Director of DFAIDG and DIG. DIG-Since 2000 investment companies Service Professor of Accounting, Trustee of DFAITC and DEM. DFAITC-Since 2000 University of Chicago Booth School of The University of Chicago DEM-Since 2000 Business (since 1980). Director, HNI Booth School of Business Corporation (formerly known as HON 5807 S. Woodlawn Industries Inc.) (office furniture) Avenue Chicago, IL 60637 (since 2000). Director, Ryder System 1953 Inc. (transportation, logistics and supply-chain management) (since 2003). Trustee, UBS Funds (4 investment companies within the fund complex) (33 portfolios) (since 2009). Formerly, Co-Director Investment Research, Fundamental Investment Advisors (hedge fund) (2008-2011). ------------------------------------------------------------------------------------------------------------------------ 62 Name, Position Portfolios within the with the Fund, Address Term of Office/1/ and DFA Fund Complex/2/ Principal Occupation(s) During Past 5 Years and and Year of Birth Length of Service Overseen Other Directorships of Public Companies Held -------------------------------------------------------------------------------------------------------------------------------- Interested Trustees/Directors* -------------------------------------------------------------------------------------------------------------------------------- David G. Booth DFAIDG-Since 1981 108 portfolios in 4 Chairman, Director/Trustee, President, Co-Chief Chairman, Director/Trustee, DIG-Since 1992 investment companies Executive Officer and formerly, Chief Executive President and Co-Chief DFAITC-Since 1992 Officer (until 1/1/2010) of the following companies: Executive Officer DEM-Since 1993 Dimensional Holdings Inc., Dimensional Fund 6300 Bee Cave Road, Advisors LP, DFA Securities LLC, DEM, DFAIDG, Building One DIG and DFAITC (collectively, the "DFA Entities"). Austin, TX 78746 Director of Dimensional Fund Advisors Ltd. and 1946 formerly, Chief Investment Officer. Director of DFA Australia Limited and formerly, President and Chief Investment Officer. Director of Dimensional Advisors Ltd., Dimensional Funds plc and Dimensional Funds II plc. Formerly, President, Dimensional SmartNest (US) LLC (2009-2014). Formerly, Limited Partner, Oak Hill Partners (2001- 2010). Limited Partner, VSC Investors, LLC (since 2007). Trustee, University of Chicago. Trustee, University of Kansas Endowment Association. Formerly, Director, SA Funds (registered investment company). Chairman, Director and Co- Chief Executive Officer of Dimensional Fund Advisors Canada ULC. Director and President (since 2012) of Dimensional Japan Ltd. Chairman, Director, President and Co-Chief Executive Officer of Dimensional Cayman Commodity Fund I Ltd. (since 2010). -------------------------------------------------------------------------------------------------------------------------------- Eduardo A. Repetto DFAIDG-Since 2009 108 portfolios in 4 Co-Chief Executive Officer (beginning January Director/Trustee, Co-Chief DIG-Since 2009 investment companies 2010), Co-Chief Investment Officer (since June Executive Officer and Co- DFAITC-Since 2009 2014), Director/Trustee, and formerly, Chief Chief Investment Officer DEM-Since 2009 Investment Officer (March 2007 - June 2014) of the 6300 Bee Cave Road, DFA Entities. Director, Co-Chief Executive Officer Building One and Chief Investment Officer (since 2010) of Austin, TX 78746 Dimensional Cayman Commodity Fund I Ltd. 1967 Director, Co-Chief Executive Officer, President and Co-Chief Investment Officer of Dimensional Fund Advisors Canada ULC and formerly, Chief Investment Officer (until April 2014). Co-Chief Investment Officer, Vice President, and Director of DFA Australia Limited and formerly, Chief Investment Officer (until April 2014). Director of Dimensional Fund Advisors Ltd., Dimensional Funds plc, Dimensional Funds II plc and Dimensional Advisors Ltd. Formerly, Vice President of the DFA Entities and Dimensional Fund Advisors Canada ULC. Director and Chief Investment Officer (since December 2012) of Dimensional Japan Ltd. /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 DFAIDG, DIG; DFAITC and DEM. Each disinterested Trustee/Director also serves on the Independent Review Committee of the Dimensional Funds, mutual funds registered in the provinces of Canada and managed by an affiliate of Dimensional Fund Advisors LP (the "Advisor"), Dimensional Fund Advisors Canada ULC. * 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 the Advisor. 63 Officers Below is the name, year of birth, information regarding positions with the Funds and the principal occupation for each officer of the Funds. The address of each officer is 6300 Bee Cave Road, Building One, Austin, TX 78746. Each of the officers listed below holds the same office (except as otherwise noted) in the DFA Entities. Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation(s) During Past 5 Years ---------------------------------------------------------------------------------------------------------------------- Officers ---------------------------------------------------------------------------------------------------------------------- April A. Aandal Vice President Since 2008 Vice President of all the DFA Entities. 1963 ---------------------------------------------------------------------------------------------------------------------- Robyn G. Alcorta Vice President Since 2012 Vice President of all the DFA Entities. Formerly, Vice 1974 President, Business Development at Capson Physicians Insurance Company (2010-2012); Vice President at Charles Schwab (2007-2010). ---------------------------------------------------------------------------------------------------------------------- Darryl D. Avery Vice President Since 2005 Vice President of all the DFA Entities. 1966 ---------------------------------------------------------------------------------------------------------------------- Arthur H. Barlow Vice President Since 1993 Vice President of all the DFA Entities. Director and 1955 Managing Director of Dimensional Fund Advisors Ltd (since September 2013). ---------------------------------------------------------------------------------------------------------------------- Peter Bergan Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Senior Infrastructure Manager for Dimensional Fund Advisors LP (January 2011-January 2014); Partner at Stonehouse Consulting (2010). ---------------------------------------------------------------------------------------------------------------------- Lana Bergstein Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Client Service Manager for Dimensional Fund Advisors LP (February 2008-January 2014). ---------------------------------------------------------------------------------------------------------------------- Stanley W. Black Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1970 Senior Research Associate (January 2012-January 2014) and Research Associate (2006-2011) for Dimensional Fund Advisors LP ---------------------------------------------------------------------------------------------------------------------- Aaron T. Borders Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1973 Regional Director for Dimensional Fund Advisors LP (April 2008-January 2014). ---------------------------------------------------------------------------------------------------------------------- Scott A. Bosworth Vice President Since 2007 Vice President of all the DFA Entities. 1968 ---------------------------------------------------------------------------------------------------------------------- Valerie A. Brown Vice President and Since 2001 Vice President and Assistant Secretary of all the 1967 Assistant Secretary DFA Entities, DFA Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Cayman Commodity Fund I Ltd., Dimensional Fund Advisors Pte. and Dimensional Hong Kong Limited. Director, Vice President and Assistant Secretary of Dimensional Fund Advisors Canada ULC. ---------------------------------------------------------------------------------------------------------------------- David P. Butler Vice President Since 2007 Vice President of all the DFA Entities. Head of 1964 Global Financial Services for Dimensional Fund Advisors LP (since 2008). ---------------------------------------------------------------------------------------------------------------------- Douglas M. Byrkit Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1970 Regional Director for Dimensional Fund Advisors LP (December 2010-January 2012); Regional Director at Russell Investments (April 2006-December 2010). ---------------------------------------------------------------------------------------------------------------------- Hunt M. Cairns Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1973 Regional Director (January 2010-January 2014) and Senior Associate (July 2008-December 2009) for Dimensional Fund Advisors LP. ---------------------------------------------------------------------------------------------------------------------- James G. Charles Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1956 Regional Director for Dimensional Fund Advisors LP (2008-2010). ---------------------------------------------------------------------------------------------------------------------- 64 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------------- Joseph H. Chi Vice President Since 2009 Vice President of all the DFA Entities. Co-Head of 1966 Portfolio Management (since March 2012) and Senior Portfolio Manager (since January 2012) for Dimensional Fund Advisors LP. Formerly, Portfolio Manager for Dimensional Fund Advisors LP (October 2005 to January 2012). ------------------------------------------------------------------------------------------------------------------------- Pil Sun Choi Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1972 Counsel for Dimensional Fund Advisors LP (April 2012 - January 2014); Vice President and Counsel for AllianceBernstein L.P. (2006-2012). ------------------------------------------------------------------------------------------------------------------------- Stephen A. Clark Vice President Since 2004 Vice President of all the DFA Entities, DFA Australia 1972 Limited and Dimensional Fund Advisors Canada ULC. Head of Global Institutional Services for Dimensional Fund Advisors LP (since January 2014). Formerly, Head of Institutional, North America (March 2012 to December 2013) and Head of Portfolio Management (January 2006 to March 2012) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- Matt B. Cobb Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (September 2011-March 2013); Vice President at MullinTBG (2005-2011). ------------------------------------------------------------------------------------------------------------------------- Rose C. Cooke Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (August 2010-March 2014); Vice President, Sales and Business Development at AdvisorsIG (PPMG) (2009-2010); Vice President at Credit Suisse (2007- 2009). ------------------------------------------------------------------------------------------------------------------------- Ryan Cooper Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1979 Regional Director for Dimensional Fund Advisors LP (2003-March 2014). ------------------------------------------------------------------------------------------------------------------------- Jeffrey D. Cornell Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1976 Regional Director for Dimensional Fund Advisors LP (August 2002-January 2012). ------------------------------------------------------------------------------------------------------------------------- Robert P. Cornell Vice President Since 2007 Vice President of all the DFA Entities. 1949 ------------------------------------------------------------------------------------------------------------------------- George H. Crane Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1955 Senior Vice President and Managing Director at State Street Bank & Trust Company (2007-2008). ------------------------------------------------------------------------------------------------------------------------- Christopher S. Crossan Vice President and Since 2004 Vice President and Chief Compliance Officer of all 1965 Global Chief the DFA Entities, DFA Australia Limited, and Compliance Officer Dimensional Fund Advisors Ltd. Chief Compliance Officer of Dimensional Fund Advisors Canada. Formerly, Vice President and Chief Compliance Officer for Dimensional SmartNest (US) LLC (October 2010- 2014). ------------------------------------------------------------------------------------------------------------------------- James L. Davis Vice President Since 1999 Vice President of all the DFA Entities. 1956 ------------------------------------------------------------------------------------------------------------------------- Robert T. Deere Vice President Since 1994 Vice President of all the DFA Entities, DFA Australia 1957 Limited and Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------------- Johnathon K. DeKinder Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1979 Regional Director (January 2012-January 2014) and Senior Associate (August 2010-December 2011) for Dimensional Fund Advisors LP; MBA and MPA at the University of Texas at Austin (August 2007-May 2010). ------------------------------------------------------------------------------------------------------------------------- Peter F. Dillard Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1972 Research Associate (August 2008-March 2010) and Research Assistant (April 2006-August 2008) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- 65 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ----------------------------------------------------------------------------------------------------------------------- Robert W. Dintzner Vice President Since 2001 Vice President of all the DFA Entities. 1970 ----------------------------------------------------------------------------------------------------------------------- Karen M. Dolan Vice President Since 2014 Vice President of all the DFA Entities. Head of 1979 Marketing for Dimensional Fund Advisors LP (since February 2013). Formerly, Senior Manager of Research and Marketing for Dimensional Fund Advisors LP (June 2012-January 2013); Director of Mutual Fund Analysis at Morningstar (January 2008- May 2012). ----------------------------------------------------------------------------------------------------------------------- Richard A. Eustice Vice President and Since 1998 Vice President and Assistant Secretary of all the 1965 Assistant Secretary DFA Entities and DFA Australia Limited. Chief Operating Officer for Dimensional Fund Advisors Pte. Ltd. (since April 2013). Formerly, Chief Operating Officer for Dimensional Fund Advisors Ltd. (July 2008-March 2013). ----------------------------------------------------------------------------------------------------------------------- Gretchen A. Flicker Vice President Since 2004 Vice President of all the DFA Entities. 1971 ----------------------------------------------------------------------------------------------------------------------- Jed S. Fogdall Vice President Since 2008 Vice President of all the DFA Entities. Co-Head of 1974 Portfolio Management (since March 2012) and Senior Portfolio Manager (since January 2012) for Dimensional Fund Advisors LP. Formerly, Portfolio Manager for Dimensional Fund Advisors LP (September 2004-January 2012). ----------------------------------------------------------------------------------------------------------------------- Edward A. Foley Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1976 Regional Director for Dimensional Fund Advisors LP (August 2011-January 2014); Senior Vice President of First Trust Advisors L.P. (2007-July 2011). ----------------------------------------------------------------------------------------------------------------------- Jeremy P. Freeman Vice President Since 2009 Vice President of all the DFA Entities. 1970 ----------------------------------------------------------------------------------------------------------------------- Mark R. Gochnour Vice President Since 2007 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Tom M. Goodrum Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1968 Managing Director at BlackRock (2004-January 2012). ----------------------------------------------------------------------------------------------------------------------- Henry F. Gray Vice President Since 2000 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- John T. Gray Vice President Since 2007 Vice President of all the DFA Entities. 1974 ----------------------------------------------------------------------------------------------------------------------- Christian Gunther Vice President Since 2011 Vice President of all the DFA Entities. Senior Trader 1975 for Dimensional Fund Advisors LP (since 2012). Formerly, Senior Trader (2009-2012). ----------------------------------------------------------------------------------------------------------------------- Robert W. Hawkins Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Counsel for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President and Senior Counsel for State Street Global Advisors (November 2008-January 2011). ----------------------------------------------------------------------------------------------------------------------- Joel H. Hefner Vice President Since 2007 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Julie C. Henderson Vice President and Since 2005 Vice President and Fund Controller of all the DFA 1974 Fund Controller Entities, Dimensional Cayman Commodity Fund I Ltd. and Dimensional Japan Ltd. ----------------------------------------------------------------------------------------------------------------------- Kevin B. Hight Vice President Since 2005 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Christine W. Ho Vice President Since 2004 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Michael C. Horvath Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1960 Managing Director, Co-Head Global Consultant Relations at BlackRock (2004-2011). ----------------------------------------------------------------------------------------------------------------------- 66 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years --------------------------------------------------------------------------------------------------------------------------- Jeff J. Jeon Vice President Since 2004 Vice President of all the DFA Entities and 1973 Dimensional Cayman Commodity Fund I Ltd. --------------------------------------------------------------------------------------------------------------------------- Garret D. Jones Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1971 Manager of Sales and Marketing Systems (January 2011-January 2014) and Project Manager (2007- 2010) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Stephen W. Jones Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1968 Facilities Manager for Dimensional Fund Advisors LP (October 2008-January 2012). --------------------------------------------------------------------------------------------------------------------------- David M. Kavanaugh Vice President Since 2014 Vice President of all the DFA Entities. Head of 1978 Operations for Financial Advisor Services for Dimensional Fund Advisors LP (since July 2014). Formerly, Counsel of Dimensional Fund Advisors LP (August 2011-January 2014); Associate at Andrews Kurth LLP (2006-2011). --------------------------------------------------------------------------------------------------------------------------- Patrick M. Keating Vice President and Since 2003 Vice President of all the DFA Entities, Dimensional 1954 Chief Operating Officer Cayman Commodity Fund I Ltd., Dimensional Japan Ltd. and Dimensional Advisors Ltd. Chief Operating Officer of Dimensional Holdings Inc., DFA Securities LLC, Dimensional Fund Advisors LP, Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan Ltd., Dimensional Advisors Ltd. And Dimensional Fund Advisors Pte. Ltd. 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 Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1977 Regional Director for Dimensional Fund Advisors LP (October 2004-January 2013). --------------------------------------------------------------------------------------------------------------------------- Glenn E. Kemp Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1948 Regional Director for Dimensional Fund Advisors LP (April 2006-January 2012). --------------------------------------------------------------------------------------------------------------------------- David M. Kershner Vice President Since 2010 Vice President of all the DFA Entities. Portfolio 1971 Manager for Dimensional Fund Advisors LP (since June 2004). --------------------------------------------------------------------------------------------------------------------------- Kimberly L. Kiser Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1972 Creative Director for Dimensional Fund Advisors LP (September 2012-January 2014); Vice President and Global Creative Director at Morgan Stanley (2007-2012); Visiting Assistant Professor, Graduate Communications Design at Pratt Institute (2004-2012). --------------------------------------------------------------------------------------------------------------------------- Timothy R. Kohn Vice President Since 2011 Vice President of all the DFA Entities. Head of 1971 Defined Contribution Sales for Dimensional Fund Advisors LP (since August 2010). --------------------------------------------------------------------------------------------------------------------------- Joseph F. Kolerich Vice President Since 2004 Vice President of all the DFA Entities. Senior 1971 Portfolio Manager of Dimensional Fund Advisors LP (since January 2012). Formerly, Portfolio Manager for Dimensional (April 2001-January 2012). --------------------------------------------------------------------------------------------------------------------------- Mark D. Krasniewski Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1981 Senior Associate, Investment Analytics and Data (January 2012-December 2012) and Systems Developer (June 2007-December 2011) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Kahne L. Krause Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1966 Regional Director (May 2010-January 2014) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Stephen W. Kurad Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1968 Regional Director for Dimensional Fund Advisors LP (2007-2010). --------------------------------------------------------------------------------------------------------------------------- 67 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------------- Michael F. Lane Vice President Since 2004 Vice President of all the DFA Entities. Formerly, 1967 Chief Executive Officer for Dimensional SmartNest (US) LLC (July 2012-November 2014). ------------------------------------------------------------------------------------------------------------------------- Francis R. Lao Vice President Since 2011 Vice President of all the DFA Entities. Formerly, Vice 1969 President - Global Operations at Janus Capital Group (2005-2011). ------------------------------------------------------------------------------------------------------------------------- David F. LaRusso Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1978 Senior Trader (January 2010-December 2012) and Trader (2000-2009) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- Juliet H. Lee Vice President Since 2005 Vice President of all the DFA Entities. 1971 ------------------------------------------------------------------------------------------------------------------------- Marlena I. Lee Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1980 Research Associate for Dimensional Fund Advisors LP (July 2008-2010). ------------------------------------------------------------------------------------------------------------------------- John B. Lessley Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1960 Regional Director for Dimensional Fund Advisors LP (January 2008-January 2013). ------------------------------------------------------------------------------------------------------------------------- Apollo D. Lupescu Vice President Since 2009 Vice President of all the DFA Entities. 1969 ------------------------------------------------------------------------------------------------------------------------- Peter Magnusson Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1969 Regional Director for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President at Columbia Management (2004-2010). ------------------------------------------------------------------------------------------------------------------------- Kenneth M. Manell Vice President Since 2010 Vice President of all the DFA Entities and 1972 Dimensional Cayman Commodity Fund I Ltd. Formerly, Counsel for Dimensional Fund Advisors LP (September 2006-January 2010). ------------------------------------------------------------------------------------------------------------------------- Aaron M. Marcus Vice President Since 2008 Vice President of all DFA Entities and Head of 1970 Global Human Resources for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- David R. Martin Vice President, Chief Since 2007 Vice President, Chief Financial Officer and Treasurer 1956 Financial Officer and of all the DFA Entities. Director, Vice President, Treasurer Chief Financial Officer and Treasurer of Dimensional Fund Advisors Ltd., DFA Australia Limited, Dimensional Advisors Pte. Ltd., Dimensional Hong Kong Limited, Dimensional Fund Advisors Canada ULC, and Dimensional Cayman Commodity Fund I Ltd. Director of Dimensional Funds plc and Dimensional Funds II plc. Statutory Auditor of Dimensional Japan Ltd. Formerly, Chief Financial Officer, Treasurer and Vice President of Dimensional SmartNest (US) LLC (October 2010-November 2014). ------------------------------------------------------------------------------------------------------------------------- Bryan R. McClune Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1975 Regional Director of Dimensional Fund Advisors LP (January 2009-January 2014). ------------------------------------------------------------------------------------------------------------------------- Philip P. McInnis Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1984 Regional Director (January 2009-January 2014) and Senior Associate (2011) for Dimensional Fund Advisors LP; Investment Consultant (March 2010- December 2010) and Investment Analyst (December 2007-March 2010) at Towers Watson. ------------------------------------------------------------------------------------------------------------------------- Jonathan G. Nelson Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Manager, Investment Systems (2011-January 2013) and Project Manager (2007-2010) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- 68 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ----------------------------------------------------------------------------------------------------------------------------- Catherine L. Newell Vice President and Vice President since 1997 Vice President and Secretary of all the DFA Entities. 1964 Secretary and Secretary since 2000 Director, Vice President and Secretary 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 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). Director of 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). Formerly, Vice President and Secretary of Dimensional SmartNest (US) LLC (October 2010- November 2014). ----------------------------------------------------------------------------------------------------------------------------- Pamela B. Noble Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1964 Portfolio Manager for Dimensional Fund Advisors LP (2008-2010). ----------------------------------------------------------------------------------------------------------------------------- Selwyn Notelovitz Vice President and Since 2013 Vice President of all the DFA Entities. Deputy Chief 1961 Deputy Chief Compliance Officer of Dimensional Fund Advisors Compliance Officer LP (since December 2012). Formerly, Chief Compliance Officer of Wellington Management Company, LLP (2004-2011). ----------------------------------------------------------------------------------------------------------------------------- Carolyn L. O Vice President Since 2010 Vice President of all the DFA Entities and 1974 Dimensional Cayman Commodity Fund I Ltd. Deputy General Counsel, Funds (since 2011). Formerly, Counsel for Dimensional Fund Advisors LP (2007- 2010). ----------------------------------------------------------------------------------------------------------------------------- Gerard K. O'Reilly Vice President and Co- Vice President since 2007 Vice President and Co-Chief Investment Officer of all 1976 Chief Investment and Co-Chief Investment the DFA Entities and Dimensional Fund Advisors Officer Officer since 2014 Canada ULC. Director of Dimensional Funds plc and Dimensional Fund II plc. ----------------------------------------------------------------------------------------------------------------------------- Daniel C. Ong Vice President Since 2009 Vice President of all the DFA Entities. Portfolio 1973 Manager for Dimensional Fund Advisors LP (since July 2005). ----------------------------------------------------------------------------------------------------------------------------- Kyle K. Ozaki Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1978 Senior Compliance Officer (January 2008-January 2010) and Compliance Officer (February 2006- December 2007) for Dimensional Fund Advisors LP. ----------------------------------------------------------------------------------------------------------------------------- Matthew A. Pawlak Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1977 Regional Director for Dimensional Fund Advisors LP (2012-January 2013); Senior Consultant (June 2011- December 2011) and Senior Investment Analyst and Consultant (July 2008-June 2011) at Hewitt EnnisKnupp. ----------------------------------------------------------------------------------------------------------------------------- David A. Plecha Vice President Since 1993 Vice President of all the DFA Entities, DFA Australia 1961 Limited, Dimensional Fund Advisors Ltd. and Dimensional Fund Advisors Canada ULC. ----------------------------------------------------------------------------------------------------------------------------- Allen Pu Vice President Since 2011 Vice President of all the DFA Entities. Portfolio 1970 Manager for Dimensional Fund Advisors LP (since 2006). ----------------------------------------------------------------------------------------------------------------------------- Theodore W. Randall Vice President Since 2008 Vice President of all the DFA Entities. Formerly, 1973 Research Associate for Dimensional Fund Advisors LP (2006 to 2008). ----------------------------------------------------------------------------------------------------------------------------- David J. Rapozo Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1967 Regional Director for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President at BlackRock (2009-2010). ----------------------------------------------------------------------------------------------------------------------------- Mark A. Regier Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1969 Planning and Analysis Manager for Dimensional Fund Advisors LP (July 2007-January 2014). ----------------------------------------------------------------------------------------------------------------------------- 69 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------ Savina B. Rizova Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1981 Research Associate (June 2011-January 2012) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ L. Jacobo Rodriguez Vice President Since 2005 Vice President of all the DFA Entities. 1971 ------------------------------------------------------------------------------------------------------------------ Oliver J. Rowe Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1960 Senior Manager, Human Resources for Dimensional Fund Advisors LP (January 2012-January 2014); Director of Human Resources at Spansion, Inc. (March 2009-December 2011). ------------------------------------------------------------------------------------------------------------------ Julie A. Saft Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1959 Client Systems Manager for Dimensional Fund Advisors LP (July 2008-January 2010); Senior Manager at Vanguard (November 1997-July 2008). ------------------------------------------------------------------------------------------------------------------ Walid A. Shinnawi Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1961 Regional Director for Dimensional Fund Advisors LP (March 2006-January 2010). ------------------------------------------------------------------------------------------------------------------ Bruce A. Simmons Vice President Since 2009 Vice President of all the DFA Entities. Formerly, 1965 Investment Operations Manager for Dimensional Fund Advisors LP (May 2007-January 2009). ------------------------------------------------------------------------------------------------------------------ Ted R. Simpson Vice President Since 2007 Vice President of all the DFA Entities. 1968 ------------------------------------------------------------------------------------------------------------------ Bhanu P. Singh Vice President Since 2014 Vice President of all the DFA Entities. Portfolio 1981 Manager for Dimensional Fund Advisors LP (since January 2012). Formerly, Investment Associate for Dimensional Fund Advisors LP (August 2010- December 2011). ------------------------------------------------------------------------------------------------------------------ Bryce D. Skaff Vice President Since 2007 Vice President of all the DFA Entities. 1975 ------------------------------------------------------------------------------------------------------------------ Lukas J. Smart Vice President Since 2014 Vice President of all the DFA Entities. Portfolio 1977 Manager of Dimensional Fund Advisors LP (since January 2010). ------------------------------------------------------------------------------------------------------------------ Andrew D. Smith Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1968 Project Manager for Dimensional Fund Advisors LP (2007-2010). ------------------------------------------------------------------------------------------------------------------ Grady M. Smith Vice President Since 2004 Vice President of all the DFA Entities and 1956 Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------ Carl G. Snyder Vice President Since 2000 Vice President of all the DFA Entities. 1963 ------------------------------------------------------------------------------------------------------------------ Lawrence R. Spieth Vice President Since 2004 Vice President of all the DFA Entities. 1947 ------------------------------------------------------------------------------------------------------------------ Richard H. Tatlow V Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (April 2010-January 2013). ------------------------------------------------------------------------------------------------------------------ Blake T. Tatsuta Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1973 Manager, Investment Analytics and Data (2012- January 2013) and Research Assistant (2002-2011) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ Erik T. Totten Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1980 Regional Director (2010-January 2013) and Senior Associate (2007-2009) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ John H. Totten Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1978 Regional Director for Dimensional Fund Advisors LP (January 2008-January 2012). ------------------------------------------------------------------------------------------------------------------ Robert C. Trotter Vice President Since 2009 Vice President of all the DFA Entities. 1958 ------------------------------------------------------------------------------------------------------------------ Karen E. Umland Vice President Since 1997 Vice President of all the DFA Entities, DFA Australia 1966 Limited, Dimensional Fund Advisors Ltd., and Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------ 70 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ---------------------------------------------------------------------------------------------------------------- Benjamin C. Walker Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1979 Regional Director for Dimensional Fund Advisors LP (September 2008-January 2014). ---------------------------------------------------------------------------------------------------------------- Brian J. Walsh Vice President Since 2009 Vice President of all the DFA Entities. Portfolio 1970 Manager for Dimensional Fund Advisors LP (since 2004). ---------------------------------------------------------------------------------------------------------------- Weston J. Wellington Vice President Since 1997 Vice President of all the DFA Entities. 1951 ---------------------------------------------------------------------------------------------------------------- Ryan J. Wiley Vice President Since 2007 Vice President of all the DFA Entities. 1976 ---------------------------------------------------------------------------------------------------------------- Paul E. Wise Vice President Since 2005 Vice President of all the DFA Entities. 1955 ---------------------------------------------------------------------------------------------------------------- Joseph L. Young Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1978 Regional Director for Dimensional Fund Advisors LP (2005-2010). ---------------------------------------------------------------------------------------------------------------- /1/ Each officer holds office for an indefinite term at the pleasure of the Board of Directors and until his or her successor is elected and qualified. 71 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://us.dimensional.com and reflects the twelve-month period beginning July 1st and ending June 30th. 72 NOTICE TO SHAREHOLDERS (Unaudited) For shareholders that do not have an October 31, 2014 tax year end, this notice is for informational purposes only. For shareholders with an October 31, 2014 tax year end, please consult your tax advisor as to the pertinence of this notice. For the fiscal year November 1, 2013 to October 31, 2014, 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............... 15% -- 85% 100% 100% 100% VA International Value Portfolio............ 100% -- -- 100% 100% 100% VA International Small Portfolio............ 42% 13% 45% 100% 100% 100% VA Short-Term Fixed Portfolio............... 75% 17% 8% 100% -- -- VA Global Bond Portfolio.................... 24% 11% 65% 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............ -- 3% 100% 100% 100% VA International Small Portfolio............ -- 5% 100% 100% 100% VA Short-Term Fixed Portfolio............... 16% -- -- 100% 100% VA Global Bond Portfolio.................... -- -- -- 100% 100% DFA VA Global Moderate Allocation Portfolio. -- 2% 44% 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. (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). 73 [LOGO] DFA103114-004A [LOGO] ANNUAL REPORT year ended: October 31, 2014 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 2014 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 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............ 26 DFA Investment Dimensions Group Inc. - LWAS/DFA International High Book to Market Portfolio Performance Charts................................................. 27 Management's Discussion and Analysis............................... 28 Disclosure of Fund Expenses........................................ 29 Disclosure of Portfolio Holdings................................... 30 Schedule of Investments............................................ 31 Statement of Assets and Liabilities................................ 32 Statement of Operations............................................ 33 Statements of Changes in Net Assets................................ 34 Financial Highlights............................................... 35 Notes to Financial Statements...................................... 36 Report of Independent Registered Public Accounting Firm............ 40 The DFA Investment Trust Company Performance Charts................................................. 41 Management's Discussion and Analysis............................... 42 Disclosure of Fund Expenses........................................ 44 Disclosure of Portfolio Holdings................................... 45 Summary Schedules of Portfolio Holdings The U.S. Large Cap Value Series................................ 46 The DFA International Value Series............................. 49 Statements of Assets and Liabilities............................... 53 Statements of Operations........................................... 54 Statements of Changes in Net Assets................................ 55 Financial Highlights............................................... 56 Notes to Financial Statements...................................... 57 Report of Independent Registered Public Accounting Firm............ 64 Fund Management....................................................... 65 Voting Proxies on Fund Portfolio Securities........................... 76 Notice to Shareholders................................................ 77 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 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 DIMENSIONAL INVESTMENT GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- LWAS/DFA U.S. HIGH BOOK TO MARKET PORTFOLIO VS. RUSSELL 1000(R) VALUE INDEX October 31, 2004-October 31, 2014 [CHART] LWAS/DFA U.S. High Book to Russell 1000/R/ Market Portfolio Value Index -------------------------- --------------- 10/31/04 $10,000 $10,000 11/30/04 10,660 10,506 12/31/04 11,083 10,858 01/31/05 10,804 10,665 02/28/05 11,127 11,018 03/31/05 11,096 10,867 04/30/05 10,721 10,672 05/31/05 11,175 10,929 06/30/05 11,402 11,049 07/31/05 11,971 11,368 08/31/05 11,866 11,319 09/30/05 12,050 11,478 10/31/05 11,725 11,186 11/30/05 12,199 11,552 12/31/05 12,212 11,621 01/31/06 12,788 12,072 02/28/06 12,744 12,146 03/31/06 12,967 12,311 04/30/06 13,331 12,624 05/31/06 13,083 12,305 06/30/06 13,195 12,383 07/31/06 13,008 12,684 08/31/06 13,213 12,897 09/30/06 13,578 13,154 10/31/06 14,114 13,584 11/30/06 14,382 13,894 12/31/06 14,666 14,206 01/31/07 15,092 14,388 02/28/07 14,861 14,164 03/31/07 14,961 14,383 04/30/07 15,600 14,914 05/31/07 16,240 15,452 06/30/07 15,977 15,091 07/31/07 14,982 14,393 08/31/07 14,694 14,554 09/30/07 15,073 15,054 10/31/07 15,157 15,056 11/30/07 14,309 14,320 12/31/07 14,252 14,182 01/31/08 13,707 13,614 02/29/08 13,291 13,043 03/31/08 13,156 12,945 04/30/08 13,991 13,577 05/31/08 14,318 13,555 06/30/08 12,748 12,257 07/31/08 12,609 12,213 08/31/08 12,848 12,421 09/30/08 11,694 11,508 10/31/08 9,059 9,516 11/30/08 8,167 8,834 12/31/08 8,437 8,956 01/31/09 7,433 7,926 02/28/09 6,389 6,867 03/31/09 7,015 7,455 04/30/09 8,147 8,254 05/31/09 8,774 8,764 06/30/09 8,667 8,699 07/31/09 9,490 9,411 08/31/09 10,128 9,904 09/30/09 10,564 10,286 10/31/09 10,111 9,971 11/30/09 10,678 10,533 12/31/09 10,973 10,720 01/31/10 10,714 10,418 02/28/10 11,181 10,747 03/31/10 12,049 11,447 04/30/10 12,423 11,743 05/31/10 11,363 10,778 06/30/10 10,504 10,171 07/31/10 11,317 10,860 08/31/10 10,629 10,395 09/30/10 11,672 11,201 10/31/10 12,103 11,538 11/30/10 12,008 11,476 12/31/10 13,181 12,382 01/31/11 13,593 12,662 02/28/11 14,332 13,129 03/31/11 14,402 13,181 04/30/11 14,751 13,532 05/31/11 14,550 13,389 06/30/11 14,281 13,115 07/31/11 13,633 12,680 08/31/11 12,475 11,888 09/30/11 11,218 10,990 10/31/11 12,766 12,248 11/30/11 12,659 12,185 12/31/11 12,752 12,430 01/31/12 13,386 12,901 02/29/12 14,160 13,415 03/31/12 14,419 13,813 04/30/12 14,117 13,672 05/31/12 13,114 12,870 06/30/12 13,818 13,509 07/31/12 13,948 13,649 08/31/12 14,500 13,945 09/30/12 15,032 14,388 10/31/12 15,065 14,317 11/30/12 15,097 14,311 12/31/12 15,549 14,607 01/31/13 16,634 15,556 02/28/13 16,843 15,779 03/31/13 17,654 16,405 04/30/13 17,830 16,653 05/31/13 18,566 17,080 06/30/13 18,353 16,929 07/31/13 19,446 17,844 08/31/13 18,861 17,167 09/30/13 19,413 17,597 10/31/13 20,400 18,367 11/30/13 21,254 18,880 12/31/13 21,810 19,358 01/31/14 20,944 18,670 02/28/14 21,648 19,478 03/31/14 22,159 19,943 04/30/14 22,298 20,132 05/31/14 22,784 20,427 06/30/14 23,398 20,961 Past performance is not predictive of 07/31/14 23,224 20,603 future performance. 08/31/14 23,956 21,361 The returns shown do not reflect the 09/30/14 23,363 20,920 deduction of taxes that a shareholder 10/31/14 23,538 21,390 would pay on fund distributions or the Average Annual One Five Ten redemption of fund shares. Total Return Year Years Years Russell data copyright (C) Russell ------------------------------------------------------ Investment Group 1995-2014, all rights 15.38% 18.41% 8.94% reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- LWAS/DFA TWO-YEAR FIXED INCOME PORTFOLIO VS. THE BOFA MERRILL LYNCH 1-3 YEAR US CORPORATE & GOVERNMENT INDEX October 31, 2004-October 31, 2014 [CHART] LWAS/DFA Two-Year The BofA Merrill Lynch 1-3 Year Fixed Income Portfolio US Corporate & Government Index ---------------------- --------------------------------- 10/31/04 $10,000 $10,000 11/30/04 9,960 9,952 12/31/04 9,967 9,976 01/31/05 9,967 9,973 02/28/05 9,957 9,953 03/31/05 9,957 9,948 04/30/05 10,008 10,005 05/31/05 10,038 10,048 06/30/05 10,052 10,071 07/31/05 10,042 10,044 08/31/05 10,083 10,109 09/30/05 10,083 10,084 10/31/05 10,093 10,082 11/30/05 10,124 10,112 12/31/05 10,155 10,151 01/31/06 10,187 10,172 02/28/06 10,218 10,183 03/31/06 10,248 10,199 04/30/06 10,280 10,232 05/31/06 10,322 10,247 06/30/06 10,351 10,266 07/31/06 10,404 10,345 08/31/06 10,446 10,419 09/30/06 10,492 10,476 10/31/06 10,534 10,521 11/30/06 10,577 10,577 12/31/06 10,627 10,582 01/31/07 10,670 10,608 02/28/07 10,714 10,694 03/31/07 10,759 10,735 04/30/07 10,803 10,775 05/31/07 10,846 10,769 06/30/07 10,894 10,813 07/31/07 10,938 10,901 08/31/07 10,993 10,992 09/30/07 11,031 11,071 10/31/07 11,075 11,118 11/30/07 11,109 11,279 12/31/07 11,163 11,310 01/31/08 11,197 11,505 02/29/08 11,231 11,609 03/31/08 11,245 11,610 04/30/08 11,267 11,544 05/31/08 11,290 11,519 06/30/08 11,305 11,547 07/31/08 11,340 11,580 08/31/08 11,363 11,631 09/30/08 11,313 11,568 10/31/08 11,382 11,559 11/30/08 11,498 11,705 12/31/08 11,600 11,841 01/31/09 11,611 11,852 02/28/09 11,600 11,836 03/31/09 11,650 11,887 04/30/09 11,697 11,956 05/31/09 11,744 12,052 06/30/09 11,761 12,075 07/31/09 11,784 12,129 08/31/09 11,831 12,200 09/30/09 11,849 12,249 10/31/09 11,873 12,293 11/30/09 11,920 12,371 12/31/09 11,856 12,295 01/31/10 11,915 12,394 02/28/10 11,927 12,423 03/31/10 11,917 12,408 04/30/10 11,940 12,446 05/31/10 11,952 12,476 06/30/10 12,002 12,533 07/31/10 12,038 12,584 08/31/10 12,050 12,617 09/30/10 12,073 12,648 10/31/10 12,097 12,684 11/30/10 12,073 12,659 12/31/10 12,073 12,641 01/31/11 12,085 12,668 02/28/11 12,085 12,666 03/31/11 12,084 12,666 04/30/11 12,120 12,727 05/31/11 12,156 12,774 06/30/11 12,158 12,777 07/31/11 12,170 12,815 08/31/11 12,182 12,837 09/30/11 12,173 12,808 10/31/11 12,185 12,836 11/30/11 12,173 12,826 12/31/11 12,173 12,838 01/31/12 12,209 12,883 02/29/12 12,209 12,889 03/31/12 12,216 12,897 04/30/12 12,229 12,922 05/31/12 12,229 12,920 06/30/12 12,238 12,927 07/31/12 12,263 12,973 08/31/12 12,263 12,987 09/30/12 12,276 13,002 10/31/12 12,276 13,007 11/30/12 12,276 13,019 12/31/12 12,287 13,028 01/31/13 12,287 13,036 02/28/13 12,287 13,051 03/31/13 12,292 13,057 04/30/13 12,304 13,078 05/31/13 12,292 13,059 06/30/13 12,287 13,039 07/31/13 12,299 13,068 08/31/13 12,287 13,059 09/30/13 12,308 13,095 10/31/13 12,308 13,118 11/30/13 12,308 13,135 12/31/13 12,308 13,120 01/31/14 12,320 13,146 02/28/14 12,320 13,164 03/31/14 12,323 13,153 04/30/14 12,335 13,174 05/31/14 12,335 13,204 06/30/14 12,328 13,201 Past performance is not predictive of 07/31/14 12,328 13,190 future performance. 08/31/14 12,341 13,214 The returns shown do not reflect the 09/30/14 12,334 13,205 deduction of taxes that a shareholder 10/31/14 12,346 13,239 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 2014 Merrill ----------------------------------------------------------- Lynch, Pierce, Fenner & Smith 0.31% 0.79% 2.13% 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 US TREASURY & AGENCY INDEX October 31, 2004-October 31, 2014 [CHART] LWAS/DFA Two-Year The BofA Merrill Lynch 1-3 Year Government Portfolio US Treasury & Agency Index -------------------- ------------------------------- 10/31/2004 $10,000 $10,000 11/30/2004 9,959 9,953 12/31/2004 9,967 9,975 1/31/2005 9,967 9,972 2/28/2005 9,956 9,951 3/31/2005 9,951 9,950 4/30/2005 9,992 10,005 5/31/2005 10,033 10,047 6/30/2005 10,054 10,068 7/31/2005 10,043 10,039 8/31/2005 10,085 10,103 9/30/2005 10,085 10,077 10/31/2005 10,095 10,076 11/30/2005 10,126 10,107 12/31/2005 10,157 10,145 1/31/2006 10,189 10,166 2/28/2006 10,210 10,177 3/31/2006 10,237 10,192 4/30/2006 10,280 10,223 5/31/2006 10,311 10,239 6/30/2006 10,343 10,258 7/31/2006 10,396 10,334 8/31/2006 10,439 10,407 9/30/2006 10,488 10,462 10/31/2006 10,531 10,507 11/30/2006 10,573 10,561 12/31/2006 10,619 10,565 1/31/2007 10,662 10,589 2/28/2007 10,695 10,673 3/31/2007 10,745 10,714 4/30/2007 10,789 10,753 5/31/2007 10,833 10,747 6/30/2007 10,881 10,791 7/31/2007 10,926 10,885 8/31/2007 10,970 10,984 9/30/2007 11,008 11,066 10/31/2007 11,053 11,110 11/30/2007 11,086 11,283 12/31/2007 11,126 11,319 1/31/2008 11,160 11,512 2/29/2008 11,194 11,618 3/31/2008 11,204 11,649 4/30/2008 11,227 11,568 5/31/2008 11,204 11,530 6/30/2008 11,228 11,564 7/31/2008 11,262 11,607 8/31/2008 11,297 11,654 9/30/2008 11,288 11,723 10/31/2008 11,323 11,809 11/30/2008 11,531 11,962 12/31/2008 11,721 12,083 1/31/2009 11,674 12,039 2/28/2009 11,674 12,040 3/31/2009 11,736 12,102 4/30/2009 11,771 12,104 5/31/2009 11,818 12,135 6/30/2009 11,814 12,124 7/31/2009 11,826 12,144 8/31/2009 11,862 12,192 9/30/2009 11,889 12,223 10/31/2009 11,912 12,250 11/30/2009 11,959 12,321 12/31/2009 11,898 12,232 1/31/2010 11,946 12,319 2/28/2010 11,970 12,345 3/31/2010 11,960 12,318 4/30/2010 11,984 12,350 5/31/2010 12,008 12,401 6/30/2010 12,056 12,457 7/31/2010 12,080 12,490 8/31/2010 12,092 12,512 9/30/2010 12,111 12,534 10/31/2010 12,147 12,563 11/30/2010 12,111 12,539 12/31/2010 12,124 12,518 1/31/2011 12,136 12,539 2/28/2011 12,124 12,529 3/31/2011 12,118 12,525 4/30/2011 12,166 12,579 5/31/2011 12,203 12,623 6/30/2011 12,202 12,629 7/31/2011 12,214 12,661 8/31/2011 12,226 12,704 9/30/2011 12,228 12,688 10/31/2011 12,228 12,699 11/30/2011 12,240 12,705 12/31/2011 12,241 12,712 1/31/2012 12,266 12,729 2/29/2012 12,266 12,716 3/31/2012 12,267 12,710 4/30/2012 12,279 12,735 5/31/2012 12,279 12,740 6/30/2012 12,272 12,735 7/31/2012 12,284 12,764 8/31/2012 12,297 12,765 9/30/2012 12,289 12,767 10/31/2012 12,289 12,761 11/30/2012 12,289 12,772 12/31/2012 12,294 12,777 1/31/2013 12,294 12,778 2/28/2013 12,294 12,788 3/31/2013 12,295 12,791 4/30/2013 12,308 12,804 5/31/2013 12,295 12,786 6/30/2013 12,295 12,777 7/31/2013 12,308 12,797 8/31/2013 12,295 12,786 9/30/2013 12,309 12,814 10/31/2013 12,321 12,828 11/30/2013 12,321 12,840 12/31/2013 12,313 12,823 1/31/2014 12,325 12,844 2/28/2014 12,325 12,855 3/31/2014 12,325 12,841 4/30/2014 12,338 12,859 5/31/2014 12,350 12,882 Past performance is not predictive of 6/30/2014 12,339 12,876 future performance. 7/31/2014 12,339 12,866 The returns shown do not reflect the 8/31/2014 12,352 12,887 deduction of taxes that a shareholder 9/30/2014 12,345 12,881 would pay on fund distributions or the 10/31/2014 12,370 12,915 redemption of fund shares. Average Annual One Five Ten The Merrill Lynch Indices are used with Total Return Year Years Years permission; copyright 2014 Merrill ---------------------------------------------------------- Lynch, Pierce, Fenner & Smith 0.39% 0.76% 2.15% Incorporated; all rights reserved. -------------------------------------------------------------------------------- 3 DIMENSIONAL INVESTMENT GROUP INC. MANAGEMENT'S DISCUSSION AND ANALYSIS (Unaudited) U.S. Equity Market Review 12 Months Ended October 31, 2014 U.S. equities had strong gains during the period. The broad U.S. equity market, as measured by the Russell 3000(R) Index, had positive returns in 9 of the 12 months. As measured by the Russell indices, large cap stocks outperformed small cap stocks. Total Return for 12 Months Ended October 31, 2014 ------------------------------------------------- Russell 3000(R) Index........................ 16.07% Russell Microcap(R) Index (micro cap stocks). 7.34% Russell 2000(R) Index (small cap stocks)..... 8.06% Russell 1000(R) Index (large cap stocks)..... 16.78% Dow Jones U.S. Select REIT Index/SM/......... 20.69% Growth stocks slightly outperformed value stocks as measured by the Russell indices. Total Return for 12 Months Ended October 31, 2014 ------------------------------------------------- Russell 2000(R) Value Index (small cap value stocks)... 7.89% Russell 2000(R) Growth Index (small cap growth stocks). 8.26% Russell 1000(R) Value Index (large cap value stocks)... 16.46% Russell 1000(R) Growth Index (large cap growth stocks). 17.11% ---------- Source: Russell data copyright(C) Russell Investment Group 1995-2014, 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 period 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, 2014, the Master Fund held approximately 260 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, 2014, total returns were 15.38% for the Portfolio and 16.46% for the Russell 1000(R) Value Index. As a result of the Master Fund's diversified investment approach, performance was 4 determined principally by broad trends in the U.S. equity market rather than the behavior of a limited number of stocks. The Master Fund excludes REITs and highly regulated utilities from eligibility while the Index holds stocks in these sectors. REITs and utilities generally outperformed other sectors during the period, which contributed to the Portfolio's relative underperformance. Lower book to market stocks outperformed higher book to market stocks within the index. The LWAS/DFA U.S. High Book to Market Portfolio had less weight than the index in lower book to market stocks, which detracted from relative performance. Fixed Income Market Review 12 Months Ended October 31, 2014 U.S. and developed international fixed income markets generally experienced flattening yield curves for the year ended October 31, 2014. In the case of the U.S. and U.K., while longer-term bond yields declined, most shorter-term bond yields increased slightly. The Eurozone saw a sharp decline in bond yields across the curve with the largest declines in longer-term bonds. On average, investment grade credit did well for the year, outperforming government bonds of similar duration. The one-month U.S. Treasury bill yield edged even lower during the period, while the yield on ten year U.S. Treasury notes decreased to 2.34%. October 31, 2013 October 31, 2014 Change ---------------- ---------------- ------ One-Month Treasury Bill (yield)...... 0.03% 0.00% -0.03% Ten-Year U.S. Treasury Notes (yield). 2.56% 2.34% -0.22% ---------- 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, 2014, total returns were 0.07 % for three-month U.S. Treasury bills, 1.18% for five-year U.S. Treasury notes, and 15.44% 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, credit spreads continued to narrow, and the portfolios employing the variable credit approach began to underweight the lower tier of investment grade credits. Fixed Income Portfolios' Performance Overview LWAS/DFA Two-Year Fixed Income Portfolio The LWAS/DFA Two-Year Fixed Income Portfolio is designed 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 favorable maturity ranges for 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 1.60 years on October 31, 2014, from 1.06 years on October 31, 2013. For the 12 months ended October 31, 2014, total returns were 0.31% for the Portfolio and 0.92% for The BofA Merrill Lynch 1-3 Year U.S. Corporate & Government Index. The Portfolio's focus on investment in AAA- and AA- rated securities detracted from the Portfolio's performance relative to the Index. The Index held an 5 average weight of approximately 19% in single-A and BBB-rated securities which significantly outperformed the Index average return. Further detracting from to the Portfolio's relative underperformance as compared to the Index was the Portfolio's average weight of 28% in securities with less than one year to maturity. The Index does not hold securities maturing in less than one year and these names underperformed. LWAS/DFA Two-Year Government Portfolio The LWAS/DFA Two-Year Government Portfolio is designed 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 favorable maturity ranges for 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 1.83 years on October 31, 2014, from 1.53 years on October 31, 2013. For the 12 months ended October 31, 2014, total returns were 0.39% for the Portfolio and 0.68% for The BofA Merrill Lynch 1-3 Year U.S. Treasury & Agency Index. The Portfolio's focus on investments with maturities of two years and less was the primary reason the Portfolio underperformed relative to the Index. The Index had a higher average weight in securities with maturities between 2-3 years and these names outperformed. 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, 2014 EXPENSE TABLES Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- LWAS/DFA U.S. High Book to Market Portfolio** --------------------------------------------- Actual Fund Return............................ $1,000.00 $1,055.60 0.34% $1.76 Hypothetical 5% Annual Return................. $1,000.00 $1,023.49 0.34% $1.73 LWAS/DFA Two-Year Fixed Income Portfolio ---------------------------------------- Actual Fund Return............................ $1,000.00 $1,000.90 0.28% $1.41 Hypothetical 5% Annual Return................. $1,000.00 $1,023.79 0.28% $1.43 7 DISCLOSURE OF FUND EXPENSES CONTINUED Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- LWAS/DFA Two-Year Government Portfolio -------------------------------------- Actual Fund Return..................... $1,000.00 $1,002.60 0.27% $1.36 Hypothetical 5% Annual Return.......... $1,000.00 $1,023.84 0.27% $1.38 ---------- * 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 29, 2014. 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 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 ----------------------------- LWAS/DFA U.S. High Book to Market Portfolio. 100.0% FIXED INCOME PORTFOLIOS LWAS/DFA Two-Year Fixed Income Portfolio Corporate.................................... 10.6% Government................................... 38.9% Foreign Corporate............................ 15.2% Foreign Government........................... 24.7% Supranational................................ 10.6% ----- 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, 2014 Value+ ----------- AFFILIATED INVESTMENT COMPANY -- (100.0%) Investment in The U.S. Large Cap Value Series of The DFA Investment Trust Company.................................. $68,207,016 ----------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANY (Cost $31,341,543)........................................... $68,207,016 =========== Summary of the Portfolio's Master Fund's investments as of October 31, 2014, 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, 2014 Face Amount Value+ ------ ------ (000) AGENCY OBLIGATIONS -- (20.4%) Federal Home Loan Bank 2.000%, 09/09/16............................. $3,795 $ 3,893,116 0.500%, 09/28/16............................. 3,500 3,493,560 0.625%, 10/14/16............................. 1,500 1,501,222 0.500%, 10/17/16............................. 1,000 997,251 Federal Home Loan Mortgage Corporation 0.500%, 05/13/16............................. 1,500 1,502,320 0.875%, 10/14/16............................. 2,900 2,918,708 Federal National Mortgage Association 0.625%, 08/26/16............................. 6,200 6,207,552 ----------- TOTAL AGENCY OBLIGATIONS......................... 20,513,729 ----------- BONDS -- (57.6%) 3M Co. 1.375%, 09/29/16............................. 500 507,203 Agence Francaise de Developpement 1.125%, 10/03/16............................. 250 251,917 Apple, Inc. 0.450%, 05/03/16............................. 2,600 2,598,796 Australia & New Zealand Banking Group, Ltd. 0.900%, 02/12/16............................. 500 502,266 Austria Government International Bond 1.750%, 06/17/16............................. 2,000 2,040,500 Bank Nederlandse Gemeenten NV 2.500%, 01/11/16............................. 600 615,121 0.625%, 07/18/16............................. 2,200 2,200,880 Bank of Montreal 1.300%, 07/15/16............................. 500 504,949 Bank of Nova Scotia (The) 1.375%, 07/15/16............................. 1,100 1,110,320 Berkshire Hathaway Finance Corp. 0.950%, 08/15/16............................. 1,000 1,005,626 Berkshire Hathaway, Inc. 2.200%, 08/15/16............................. 131 134,486 Commonwealth Bank of Australia 3.500%, 03/19/15............................. 300 303,242 Cooperatieve Centrale Raiffeisen- Boerenleenbank BA 2.125%, 10/13/15............................. 500 508,041 Council Of Europe Development Bank 2.625%, 02/16/16............................. 1,000 1,029,179 1.375%, 03/22/16............................. 600 607,914 1.250%, 09/22/16............................. 750 758,751 Face Amount Value+ ------ ------ (000) BONDS -- (Continued) European Bank for Reconstruction & Development 2.500%, 03/15/16............................. $1,000 $1,029,532 1.375%, 10/20/16............................. 500 507,556 European Investment Bank 4.875%, 02/16/16............................. 2,000 2,115,812 2.125%, 07/15/16............................. 500 513,474 0.500%, 08/15/16............................. 200 199,889 FMS Wertmanagement AoeR 0.625%, 04/18/16............................. 2,500 2,505,202 General Electric Capital Corp. 1.000%, 01/08/16............................. 2,500 2,512,827 1.500%, 07/12/16............................. 400 405,346 Hydro-Quebec 2.000%, 06/30/16............................. 1,200 1,227,689 Inter-American Development Bank 5.125%, 09/13/16............................. 500 541,248 International Bank for Reconstruction & Development 2.125%, 03/15/16............................. 2,000 2,047,216 KFW 1.250%, 10/05/16............................. 1,000 1,012,273 Kommunalbanken A.S. 2.375%, 01/19/16............................. 1,700 1,740,198 0.875%, 10/03/16............................. 1,000 1,004,154 Landeskreditbank Baden- Wuerttemberg Foerderbank 2.250%, 07/15/16............................. 500 514,266 Municipality Finance P.L.C. 2.375%, 05/16/16............................. 2,000 2,056,768 1.250%, 09/12/16............................. 500 505,575 National Australia Bank, Ltd. 1.600%, 08/07/15............................. 500 504,755 Nederlandse Waterschapsbank NV 0.750%, 03/29/16............................. 2,000 2,007,200 2.125%, 06/16/16............................. 500 512,522 Nordic Investment Bank 2.250%, 03/15/16............................. 1,000 1,024,740 Oesterreichische Kontrollbank AG 4.875%, 02/16/16............................. 1,000 1,056,171 Ontario, Province of Canada 4.750%, 01/19/16............................. 556 585,199 2.300%, 05/10/16............................. 1,400 1,436,135 1.000%, 07/22/16............................. 800 803,663 Royal Bank of Canada 0.800%, 10/30/15............................. 450 451,836 2.625%, 12/15/15............................. 2,000 2,045,876 Svensk Exportkredit AB 0.625%, 05/31/16............................. 2,100 2,102,955 Svenska Handelsbanken AB 3.125%, 07/12/16............................. 1,750 1,817,662 11 LWAS/DFA TWO-YEAR FIXED INCOME PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) BONDS -- (Continued) Toronto-Dominion Bank (The) 2.500%, 07/14/16............................. $ 400 $ 411,735 1.500%, 09/09/16............................. 1,700 1,720,920 2.375%, 10/19/16............................. 500 515,662 Toyota Motor Credit Corp. # 2.800%, 01/11/16............................. 1,235 1,267,856 Wal-Mart Stores, Inc. 0.600%, 04/11/16............................. 2,000 2,001,392 Westpac Banking Corp. 3.000%, 08/04/15............................. 2,000 2,039,222 1.125%, 09/25/15............................. 474 477,008 ----------- TOTAL BONDS...................................... 57,900,725 ----------- U.S. TREASURY OBLIGATIONS -- (17.6%) U.S. Treasury Notes 0.375%, 04/30/16............................. 2,000 2,001,718 0.625%, 07/15/16............................. 2,500 2,509,765 1.500%, 07/31/16............................. 1,500 1,528,125 0.625%, 08/15/16............................. 6,300 6,321,660 1.000%, 08/31/16............................. 2,700 2,726,789 1.000%, 09/30/16............................. 2,600 2,624,983 ----------- TOTAL U.S. TREASURY OBLIGATIONS.................. 17,713,040 ----------- Face Amount Value+ ------ ------ (000) COMMERCIAL PAPER -- (2.0%) Cooperatieve Centrale Raiffeisen- Boerenleenbank BA 0.716%, 05/06/16............................. $ 2,000 $ 1,992,272 Shares ------ - TEMPORARY CASH INVESTMENTS -- (1.1%) State Street Institutional Liquid Reserves, 0.077%...................................... 1,070,222 1,070,222 ------------ SECURITIES LENDING COLLATERAL -- (1.3%) (S)@ DFA Short Term Investment Fund............... 112,879 1,306,013 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $100,451,980).............................. $100,496,001 ============ Summary of the Portfolio's investments as of October 31, 2014, 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............ -- $20,513,729 -- $ 20,513,729 Bonds......................... -- 57,900,725 -- 57,900,725 U.S. Treasury Obligations..... -- 17,713,040 -- 17,713,040 Commercial Paper.............. -- 1,992,272 -- 1,992,272 Temporary Cash Investments.... $1,070,222 -- -- 1,070,222 Securities Lending Collateral. -- 1,306,013 -- 1,306,013 ---------- ----------- -- ------------ TOTAL......................... $1,070,222 $99,425,779 -- $100,496,001 ========== =========== == ============ See accompanying Notes to Financial Statements. 12 LWAS/DFA TWO-YEAR GOVERNMENT PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Face Amount Value+ -------- ------------ (000) U.S. TREASURY OBLIGATIONS -- (99.7%) U.S. Treasury Notes 0.500%, 06/15/16........................................... $ 17,200 $ 17,243,000 1.500%, 06/30/16........................................... 230 234,187 0.625%, 07/15/16........................................... 9,960 9,998,904 1.500%, 07/31/16........................................... 10,250 10,442,188 0.625%, 08/15/16........................................... 5,800 5,819,940 1.000%, 08/31/16........................................... 32,700 33,024,449 0.875%, 09/15/16........................................... 7,500 7,557,420 1.000%, 09/30/16........................................... 35,000 35,336,315 0.625%, 10/15/16........................................... 25,000 25,062,500 ------------ TOTAL U.S. TREASURY OBLIGATIONS.............................. 144,718,903 ------------ Shares -------- TEMPORARY CASH INVESTMENTS -- (0.3%) State Street Institutional U.S. Government Money Market Fund. 431,029 431,029 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $144,970,328)......................................... $145,149,932 ============ Summary of the Portfolio's investments as of October 31, 2014, 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.......... -- $144,718,903 -- $144,718,903 Temporary Cash Investments......... $431,029 -- -- 431,029 -------- ------------ -- ------------ TOTAL.............................. $431,029 $144,718,903 -- $145,149,932 ======== ============ == ============ 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, 2014 (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....................................................................................... $ 68,207 Fund Shares Sold......................................................................................... 24 Prepaid Expenses and Other Assets........................................................................ 5 ------------ Total Assets........................................................................................ 68,236 ------------ LIABILITIES: Payables: Fund Shares Redeemed................................................................................... 5 Due to Advisor......................................................................................... 1 Accrued Expenses and Other Liabilities................................................................... 16 ------------ Total Liabilities................................................................................... 22 ------------ NET ASSETS............................................................................................... $ 68,214 ============ SHARES OUTSTANDING, $0.01 PAR VALUE (1).................................................................. 3,383,387 ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE................................................. $ 20.16 ============ Investment in Affiliated Investment Company at Cost...................................................... $ 31,342 ============ NET ASSETS CONSIST OF: Paid-In Capital.......................................................................................... $ 27,113 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)................... 103 Accumulated Net Realized Gain (Loss)..................................................................... 4,133 Net Unrealized Appreciation (Depreciation)............................................................... 36,865 ------------ NET ASSETS............................................................................................... $ 68,214 ============ (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, 2014 (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 (including $1,278 and $0 of securities on loan, respectively)..... $ 98,120 $ 144,719 Temporary Cash Investments at Value & Cost............................................. 1,070 431 Collateral from Securities on Loan Invested in Affiliate at Value & Cost............... 1,306 -- Receivables: Interest............................................................................. 323 201 Fund Shares Sold..................................................................... -- 72 Prepaid Expenses and Other Assets...................................................... 4 5 ------------ ------------ Total Assets...................................................................... 100,823 145,428 ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned..................................................... 1,306 -- Investment Securities Purchased...................................................... 516 -- Fund Shares Redeemed................................................................. 11 154 Due to Advisor....................................................................... 13 19 Accrued Expenses and Other Liabilities................................................. 16 24 ------------ ------------ Total Liabilities................................................................. 1,862 197 ------------ ------------ NET ASSETS............................................................................. $ 98,961 $ 145,231 ============ ============ SHARES OUTSTANDING, $0.01 PAR VALUE (1)................................................ 9,875,319 14,641,141 ============ ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE............................... $ 10.02 $ 9.92 ============ ============ Investments at Cost.................................................................... $ 98,076 $ 144,539 ============ ============ NET ASSETS CONSIST OF: Paid-In Capital........................................................................ $ 98,699 $ 144,588 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income). 37 53 Accumulated Net Realized Gain (Loss)................................................... 181 410 Net Unrealized Appreciation (Depreciation)............................................. 44 180 ------------ ------------ NET ASSETS............................................................................. $ 98,961 $ 145,231 ============ ============ (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, 2014 (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.............................................................. $1,374 -- -- Income from Securities Lending......................................... 13 -- -- Expenses Allocated from Affiliated Investment Company.................. (75) -- -- ------ ---- ---- Total Net Investment Income Received from Affiliated Investment Company............................................................ 1,312 -- -- ------ ---- ---- Fund Investment Income Interest............................................................... -- $471 $567 ------ ---- ---- Total Investment Income............................................. -- 471 567 ------ ---- ---- Fund Expenses Investment Advisory Services Fees...................................... -- 147 219 Administrative Services Fees........................................... 7 -- -- Accounting & Transfer Agent Fees....................................... 20 9 12 Shareholder Servicing Fees............................................. 103 78 117 Custodian Fees......................................................... -- 3 2 Filing Fees............................................................ 17 19 20 Shareholders' Reports.................................................. 6 8 13 Directors'/Trustees' Fees & Expenses................................... -- 1 1 Professional Fees...................................................... 5 6 9 Other.................................................................. 1 2 2 ------ ---- ---- Total Expenses...................................................... 159 273 395 ------ ---- ---- Net Investment Income (Loss)........................................... 1,153 198 172 ------ ---- ---- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold........................................... 4,345 189 421 Change in Unrealized Appreciation (Depreciation) of: Investment Securities................................................ 4,401 (79) 16 ------ ---- ---- Net Realized and Unrealized Gain (Loss)................................ 8,746 110 437 ------ ---- ---- Net Increase (Decrease) in Net Assets Resulting from Operations.......... $9,899 $308 $609 ====== ==== ==== ---------- * 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, 2014 2013 2014 2013 2014 2013 -------- -------- -------- -------- -------- -------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)........................... $ 1,153 $ 1,142 $ 198 $ 244 $ 172 $ 72 Net Realized Gain (Loss) on: Investment Securities Sold........................... 4,345 6,899 189 116 421 319 Change in Unrealized Appreciation (Depreciation) of: Investment Securities................................ 4,401 11,517 (79) (101) 16 (95) -------- -------- -------- -------- -------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations.................................... 9,899 19,558 308 259 609 296 -------- -------- -------- -------- -------- -------- Distributions From: Net Investment Income.................................. (1,033) (1,172) (185) (271) (114) (116) Net Short-Term Gains................................... -- -- (67) (360) (135) (955) Net Long-Term Gains.................................... (2,398) -- (48) (44) (180) (29) -------- -------- -------- -------- -------- -------- Total Distributions................................. (3,431) (1,172) (300) (675) (429) (1,100) -------- -------- -------- -------- -------- -------- Capital Share Transactions (1): Shares Issued.......................................... 2,290 5,461 14,953 18,639 19,318 28,064 Shares Issued in Lieu of Cash Distributions............ 3,431 1,049 300 560 428 805 Shares Redeemed........................................ (11,241) (18,546) (11,026) (13,383) (19,900) (28,133) -------- -------- -------- -------- -------- -------- Net Increase (Decrease) from Capital Share Transactions....................................... (5,520) (12,036) 4,227 5,816 (154) 736 -------- -------- -------- -------- -------- -------- Total Increase (Decrease) in Net Assets............. 948 6,350 4,235 5,400 26 (68) Net Assets Beginning of Year...................................... 67,266 60,916 94,726 89,326 145,205 145,273 -------- -------- -------- -------- -------- -------- End of Year............................................ $ 68,214 $ 67,266 $ 98,961 $ 94,726 $145,231 $145,205 ======== ======== ======== ======== ======== ======== (1) Shares Issued and Redeemed: Shares Issued.......................................... 119 340 1,493 1,860 1,952 2,835 Shares Issued in Lieu of Cash Distributions............ 186 67 30 56 43 81 Shares Redeemed........................................ (578) (1,152) (1,101) (1,335) (2,011) (2,841) -------- -------- -------- -------- -------- -------- Net Increase (Decrease) from Shares Issued and Redeemed....................................... (273) (745) 422 581 (16) 75 ======== ======== ======== ======== ======== ======== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)..................... $ 103 $ 38 $ 37 $ 24 $ 53 $ (5) 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, 2014 2013 2012 2011 2010 ---------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 18.40 $ 13.84 $ 11.96 $ 11.52 $ 9.80 ------- ------- ------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.32 0.28 0.25 0.20 0.19 Net Gains (Losses) on Securities (Realized and Unrealized). 2.41 4.57 1.87 0.44 1.72 ------- ------- ------- ------- ------- Total from Investment Operations.......................... 2.73 4.85 2.12 0.64 1.91 ---------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.29) (0.29) (0.24) (0.20) (0.19) Net Realized Gains......................................... (0.68) -- -- -- -- ------- ------- ------- ------- ------- Total Distributions....................................... (0.97) (0.29) (0.24) (0.20) (0.19) ---------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 20.16 $ 18.40 $ 13.84 $ 11.96 $ 11.52 ============================================================= ======== ======== ======== ======== ======== Total Return................................................. 15.38% 35.41% 18.01% 5.48% 19.71% ---------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $68,214 $67,266 $60,916 $62,759 $67,314 Ratio of Expenses to Average Net Assets (B).................. 0.34% 0.34% 0.34% 0.34% 0.35% Ratio of Net Investment Income to Average Net Assets......... 1.67% 1.77% 1.93% 1.56% 1.78% ---------------------------------------------------------------------------------------------------------- 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, 2014 2013 2012 2011 2010 ----------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 10.02 $ 10.07 $ 10.10 $ 10.13 $ 10.03 ------- ------- ------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.02 0.03 0.04 0.05 0.08 Net Gains (Losses) on Securities (Realized and Unrealized). 0.01 -- 0.03 0.03 0.11 ------- ------- ------- ------- ------- Total from Investment Operations.......................... 0.03 0.03 0.07 0.08 0.19 ----------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.02) (0.03) (0.04) (0.06) (0.09) Net Realized Gains......................................... (0.01) (0.05) (0.06) (0.05) -- ------- ------- ------- ------- ------- Total Distributions....................................... (0.03) (0.08) (0.10) (0.11) (0.09) ----------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 10.02 $ 10.02 $ 10.07 $ 10.10 $ 10.13 ============================================================= ======== ======== ======== ======== ======== Total Return.............................................. 0.31% 0.26% 0.75% 0.73% 1.89% ----------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $98,961 $94,726 $89,326 $92,897 $89,264 Ratio of Expenses to Average Net Assets...................... 0.28% 0.29% 0.30% 0.30% 0.31% Ratio of Net Investment Income to Average Net Assets......... 0.20% 0.27% 0.40% 0.54% 0.82% Portfolio Turnover Rate...................................... 122% 57% 102% 98% 113% ----------------------------------------------------------------------------------------------------------- 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, 2014 2013 2012 2011 2010 --------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 9.91 $ 9.96 $ 9.98 $ 10.07 $ 10.10 -------- -------- -------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.01 0.01 0.02 0.04 0.07 Net Gains (Losses) on Securities (Realized and Unrealized). 0.03 0.02 0.04 0.02 0.13 -------- -------- -------- -------- -------- Total from Investment Operations.......................... 0.04 0.03 0.06 0.06 0.20 --------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.01) (0.01) (0.03) (0.04) (0.08) Net Realized Gains......................................... (0.02) (0.07) (0.05) (0.11) (0.15) -------- -------- -------- -------- -------- Total Distributions....................................... (0.03) (0.08) (0.08) (0.15) (0.23) --------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 9.92 $ 9.91 $ 9.96 $ 9.98 $ 10.07 ============================================================= ======== ======== ======== ======== ======== Total Return.............................................. 0.39% 0.26% 0.50% 0.66% 1.98% --------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $145,231 $145,205 $145,273 $178,442 $173,724 Ratio of Expenses to Average Net Assets...................... 0.27% 0.28% 0.28% 0.29% 0.29% Ratio of Net Investment Income to Average Net Assets......... 0.12% 0.05% 0.19% 0.41% 0.72% Portfolio Turnover Rate...................................... 225% 160% 111% 127% 166% --------------------------------------------------------------------------------------------------------------- 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, 2014, 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, 2014, there were no significant transfers between Level 1 and Level 2 and no significant 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, 2014, 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 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. 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, 2014, 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, 2014, 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, 2014, 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.... 4 LWAS/DFA Two-Year Government Portfolio...... 7 E. Purchases and Sales of Securities: For the year ended October 31, 2014, 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. $ 64,085 $ 54,281 $58,197 $60,647 LWAS/DFA Two-Year Government Portfolio... 328,314 326,795 -- -- 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, 2014, primarily 22 attributable to 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) --------------- -------------- -------------- LWAS/DFA U.S. High Book to Market Portfolio. $263 $(55) $(208) 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, 2013 and October 31, 2014 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 2013........................................ $1,172 -- $1,172 2014........................................ 1,033 $2,398 3,431 LWAS/DFA Two-Year Fixed Income Portfolio 2013........................................ 631 44 675 2014........................................ 252 48 300 LWAS/DFA Two-Year Government Portfolio 2013........................................ 1,071 29 1,100 2014........................................ 249 180 429 At October 31, 2014, 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. $58 $205 $263 At October 31, 2014, 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. $174 $4,067 $36,864 $41,105 LWAS/DFA Two-Year Fixed Income Portfolio.... 148 73 44 265 LWAS/DFA Two-Year Government Portfolio...... 471 -- 180 651 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, 2014, the Portfolios had no capital loss carryforwards available to offset future realized capital gains. During the year ended October 31, 2014, the Portfolios did not use capital loss carryforwards. 23 At October 31, 2014, 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, as follows (amounts in thousands): Net Unrealized Federal Unrealized Unrealized Appreciation Tax Cost Appreciation Depreciation (Depreciation) -------- ------------ ------------ -------------- LWAS/DFA U.S. High Book to Market Portfolio. $ 31,343 $36,864 -- $36,864 LWAS/DFA Two-Year Fixed Income Portfolio.... 100,452 72 $(28) 44 LWAS/DFA Two-Year Government Portfolio...... 144,970 210 (30) 180 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 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 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, 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 agreement for the line of credit expires on March 2, 2015. The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit 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 line of credit agreement expires on January 9, 2015. There were no borrowings by the Portfolios under the lines of credit during the year ended October 31, 2014. 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. 24 I. Other: At October 31, 2014, 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 ------------ ------------- LWAS/DFA U.S. High Book to Market Portfolio. 2 95% LWAS/DFA Two-Year Fixed Income Portfolio.... 3 97% LWAS/DFA Two-Year Government Portfolio...... 2 93% 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, described below, 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. Oral argument on the appeal was held on November 5, 2014, and the parties await the Second Circuit's ruling. The Committee Action remains pending, and a motion to dismiss on behalf of all shareholder defendants in the Committee Action was filed on May 23, 2014. The motion to dismiss is fully briefed, and the parties await the scheduling of oral argument on the motion. The Committee Action is stayed pending the disposition of the motion to dismiss. Litigation counsel to The U.S. Large Cap Value Series in the Lawsuits has advised management that it 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 quantify the cost of the Lawsuits that could potentially be 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. J. 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 Board of Directors of Dimensional Investment Group Inc. and Shareholders of the Portfolios, as defined: 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, 2014, 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, 2014 by correspondence with the custodian and transfer agents of the investee funds, provide a reasonable basis for our opinion. PricewaterhouseCoopers LLP Philadelphia, Pennsylvania December 19, 2014 26 DFA INVESTMENT DIMENSIONS GROUP PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- LWAS/DFA INTERNATIONAL HIGH BOOK TO MARKET PORTFOLIO VS. MSCI WORLD EX USA INDEX (NET DIV.) October 31, 2004-October 31, 2014 [CHART] LWAS/DFA International MSCI World High Book to ex USA Index END DATE Market Portfolio (net dividends) ---------------- --------------- 10/2004 $10,000 $10,000 11/2004 10,742 10,665 12/2004 11,274 11,116 1/2005 11,156 10,897 2/2005 11,594 11,382 3/2005 11,306 11,123 4/2005 10,959 10,840 5/2005 10,973 10,859 6/2005 11,147 11,037 7/2005 11,640 11,393 8/2005 12,027 11,708 9/2005 12,359 12,242 10/2005 12,168 11,847 11/2005 12,387 12,160 12/2005 12,992 12,724 1/2006 13,873 13,529 2/2006 14,007 13,483 3/2006 14,597 13,911 4/2006 15,329 14,576 5/2006 14,709 14,022 6/2006 14,612 14,004 7/2006 14,831 14,136 9/2006 15,547 14,526 10/2006 16,237 15,100 11/2006 16,773 15,549 12/2006 17,423 15,995 1/2007 17,747 16,093 2/2007 17,731 16,222 3/2007 18,302 16,637 4/2007 19,219 17,394 5/2007 19,876 17,781 7/2007 19,168 17,552 8/2007 18,951 17,298 9/2007 19,938 18,281 10/2007 20,899 19,076 1/2007 19,632 18,330 12/2007 19,208 17,985 1/2008 17,645 16,364 2/2008 17,419 16,660 3/2008 17,621 16,422 4/2008 18,403 17,335 5/2008 18,412 17,598 6/2008 16,587 16,230 7/2008 16,115 15,652 8/2008 15,438 15,047 9/2008 13,634 12,874 10/2008 10,212 10,196 11/2008 9,585 9,643 12/2008 10,288 10,152 1/2009 8,864 9,204 2/2009 7,775 8,273 3/2009 8,623 8,818 4/2009 10,216 9,955 5/2009 11,725 11,214 6/2009 11,547 11,098 7/2009 12,910 12,140 8/2009 13,649 12,722 9/2009 14,349 13,247 10/2009 13,778 13,034 11/2009 14,178 13,356 12/2009 14,338 13,569 1/2010 13,516 12,933 2/2010 13,559 12,920 3/2010 14,623 13,752 4/2010 14,377 13,547 5/2010 12,688 12,052 6/2010 12,454 11,878 7/2010 14,022 12,976 8/2010 13,333 12,588 9/2010 14,758 13,795 10/2010 15,273 14,287 11/2010 14,493 13,682 12/2010 15,845 14,783 1/2011 16,521 15,102 2/2011 17,072 15,662 3/2011 16,599 15,348 4/2011 17,482 16,184 5/2011 16,836 15,704 6/2011 16,604 15,480 7/2011 16,075 15,225 8/2011 14,344 13,938 9/2011 12,778 12,538 10/2011 14,005 13,758 11/2011 13,537 13,122 12/2011 13,167 12,979 1/2012 14,055 13,679 2/2012 14,789 14,431 3/2012 14,661 14,325 4/2012 14,131 14,081 5/2012 12,386 12,476 6/2012 13,260 13,294 7/2012 13,208 13,459 8/2012 13,749 13,843 9/2012 14,234 14,263 10/2012 14,409 14,363 11/2012 14,637 14,665 12/2012 15,359 15,109 1/2013 16,079 15,852 2/2013 15,586 15,694 3/2013 15,630 15,818 4/2013 16,408 16,539 5/2013 16,199 16,168 6/2013 15,634 15,563 7/2013 16,696 16,391 8/2013 16,580 16,180 9/2013 17,810 17,323 10/2013 18,431 17,904 11/2013 18,489 18,014 12/2013 18,903 18,285 1/2014 18,208 17,547 2/2014 19,230 18,505 3/2014 19,101 18,422 4/2014 19,412 18,712 5/2014 19,620 19,002 6/2014 19,876 19,272 7/2014 19,412 18,928 8/2014 19,412 18,943 9/2014 18,567 18,165 Past performance is not predictive of 10/2014 18,249 17,877 future performance. The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. ----------------------------------------------------------- MSCI data copyright MSCI 2014, all -0.99% 5.78% 6.20% rights reserved. -------------------------------------------------------------------------------- 27 DFA INVESTMENT DIMENSIONS GROUP INC. MANAGEMENT'S DISCUSSION AND ANALYSIS (Unaudited) International Equity Market Review 12 Months Ended October 31, 2014 Performance of non-U.S. developed markets was generally negative for the period. Only large cap growth stocks had positive returns. As measured by the MSCI world ex USA indices, large cap stocks outperformed small cap stocks, and growth stocks outperformed value stocks. 12 Months Ended October 31, 2014 -------------------------------- Return in U.S. Dollars - ---------------------- MSCI World ex USA Index........... -0.15% MSCI World ex USA Small Cap Index. -2.14% MSCI World ex USA Value Index..... -0.62% MSCI World ex USA Growth Index.... 0.31% During the period, the U.S. dollar (USD) appreciated against developed markets currencies, detracting from USD-denominated returns of non-U.S. securities in developed markets. 12 Months Ended October 31, 2014 -------------------------------- Ten Largest Foreign Developed Markets by Market Cap Local Return Return in U.S. Dollars --------------------------------------------------- ------------ ---------------------- United Kingdom.................... 0.55% 0.12% Japan............................. 13.47% -0.70% Canada............................ 12.71% 4.26% France............................ 1.34% -6.61% Switzerland....................... 9.61% 3.13% Germany........................... 2.52% -5.52% Australia......................... 6.74% -0.92% Spain............................. 10.44% 1.78% Hong Kong......................... 10.24% 10.21% Sweden............................ 13.18% -1.03% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2014, 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, 2014, the Master Fund held approximately 550 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, 2014, total returns were -0.99% for the Portfolio and -0.15% for the MSCI World ex USA Index (net dividends). As a result of the Master Fund's diversified investment approach, performance was determined principally by broad trends in international equity markets rather than the behavior of a limited number of stocks. The Master Fund had significantly greater exposure than the Index to value stocks. Value stocks, particularly those in Canada, generally underperformed the Index, which detracted from the Portfolio's relative performance. 28 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, 2014 EXPENSE TABLES Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- LWAS/DFA International High Book to Market Portfolio** - Actual Fund Return.............. $1,000.00 $ 940.10 0.49% $2.40 Hypothetical 5% Annual Return... $1,000.00 $1,022.74 0.49% $2.50 ---------- * 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). 29 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 29, 2014. 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 the Disclosure of Portfolio Holdings, which are 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. FEEDER FUND Affiliated Investment Company ----------------------------- LWAS/DFA International High Book to Market Portfolio. 100.0% 30 LWAS/DFA INTERNATIONAL HIGH BOOK TO MARKET PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2014 Value+ ----------- AFFILIATED INVESTMENT COMPANY -- (100.0%) Investment in The DFA International Value Series of The DFA Investment Trust Company..................... $68,758,130 ----------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANY (Cost $58,674,585)................................ $68,758,130 =========== Summary of the Portfolio's Master Fund's investments as of October 31, 2014, based on their valuation inputs, is located within this report (See Security Valuation Note). See accompanying Notes to Financial Statements. 31 DFA INVESTMENT DIMENSIONS GROUP INC. LWAS/DFA INTERNATIONAL HIGH BOOK TO MARKET PORTFOLIO STATEMENT OF ASSETS AND LIABILITIES OCTOBER 31, 2014 (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.................................................................... $ 68,758 Prepaid Expenses and Other Assets................................................................ 5 ------------ Total Assets................................................................................ 68,763 ------------ LIABILITIES: Payables: Fund Shares Redeemed........................................................................... 76 Due to Advisor................................................................................. 1 Accrued Expenses and Other Liabilities........................................................... 20 ------------ Total Liabilities........................................................................... 97 ------------ NET ASSETS....................................................................................... $ 68,666 ============ SHARES OUTSTANDING, $0.01 PAR VALUE (1).......................................................... 7,976,825 ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE......................................... $ 8.61 ============ Investment in Affiliated Investment Company at Cost.............................................. $ 58,675 ============ NET ASSETS CONSIST OF: Paid-In Capital.................................................................................. $ 56,953 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)........... 132 Accumulated Net Realized Gain (Loss)............................................................. 1,499 Net Unrealized Foreign Exchange Gain (Loss)...................................................... (1) Net Unrealized Appreciation (Depreciation)....................................................... 10,083 ============ NET ASSETS....................................................................................... $ 68,666 ============ (1) NUMBER OF SHARES AUTHORIZED.................................................................. 200,000,000 ============ See accompanying Notes to Financial Statements. 32 DFA INVESTMENT DIMENSIONS GROUP INC. LWAS/DFA INTERNATIONAL HIGH BOOK TO MARKET PORTFOLIO* STATEMENT OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2014 (Amounts in thousands) Investment Income Dividends (Net of Foreign Taxes Withheld of $203)............. $ 3,578 Income from Securities Lending................................ 89 Expenses Allocated from Affiliated Investment Company......... (167) ------- Total Investment Income.................................... 3,500 ------- Expenses Administrative Services Fees.................................. 8 Accounting & Transfer Agent Fees.............................. 23 Shareholder Servicing Fees.................................... 146 Filing Fees................................................... 22 Shareholders' Reports......................................... 7 Directors'/Trustees' Fees & Expenses.......................... 1 Professional Fees............................................. 5 Other......................................................... 1 ------- Total Expenses............................................. 213 ------- Net Investment Income (Loss).................................. 3,287 ------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold.................................. 1,618 Foreign Currency Transactions............................... (12) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.................. (5,439) Translation of Foreign Currency Denominated Amounts......... (11) ------- Net Realized and Unrealized Gain (Loss)....................... (3,844) ------- Net Increase (Decrease) in Net Assets Resulting from Operations. $ (557) ======= ---------- * 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. 33 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, 2014 2013 - -------- -------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)......................................................... $ 3,287 $ 2,079 Net Realized Gain (Loss) on: Investment Securities Sold......................................................... 1,618 3,625 Futures............................................................................ -- (14) Foreign Currency Transactions...................................................... (12) (20) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency......................................... (5,439) 11,905 Translation of Foreign Currency Denominated Amounts................................ (11) 6 -------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations................... (557) 17,581 -------- -------- Distributions From: Net Investment Income................................................................ (3,174) (2,242) Net Short-Term Gains................................................................. (145) -- Net Long-Term Gains.................................................................. (3,304) (4,494) -------- -------- Total Distributions............................................................... (6,623) (6,736) -------- -------- Capital Share Transactions (1): Shares Issued........................................................................ 3,618 7,334 Shares Issued in Lieu of Cash Distributions.......................................... 6,622 5,799 Shares Redeemed...................................................................... (12,295) (12,977) -------- -------- Net Increase (Decrease) from Capital Share Transactions........................... (2,055) 156 -------- -------- Total Increase (Decrease) in Net Assets........................................... (9,235) 11,001 Net Assets Beginning of Year.................................................................... 77,901 66,900 -------- -------- End of Year.......................................................................... $ 68,666 $ 77,901 ======== ======== (1) Shares Issued and Redeemed: Shares Issued........................................................................ 396 869 Shares Issued in Lieu of Cash Distributions.......................................... 736 723 Shares Redeemed...................................................................... (1,356) (1,527) -------- -------- Net Increase (Decrease) from Shares Issued and Redeemed........................... (224) 65 ======== ======== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income). $ 132 $ 64 See accompanying Notes to Financial Statements. 34 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, 2014 2013 2012 2011 2010 ------------------------------------------------------------------------------------------------------------ Net Asset Value, Beginning of Year........................... $ 9.50 $ 8.22 $ 8.68 $ 10.38 $ 9.66 ------- ------- ------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.39 0.25 0.28 0.32 0.22 Net Gains (Losses) on Securities (Realized and Unrealized). (0.47) 1.87 (0.10) (1.09) 0.79 ------- ------- ------- ------- ------- Total from Investment Operations.......................... (0.08) 2.12 0.18 (0.77) 1.01 ------------------------------------------------------------------------------------------------------------ Less Distributions ------------------ Net Investment Income...................................... (0.38) (0.27) (0.28) (0.31) (0.23) Net Realized Gains......................................... (0.43) (0.57) (0.36) (0.62) (0.06) ------- ------- ------- ------- ------- Total Distributions....................................... (0.81) (0.84) (0.64) (0.93) (0.29) ------------------------------------------------------------------------------------------------------------ Net Asset Value, End of Year................................. $ 8.61 $ 9.50 $ 8.22 $ 8.68 $ 10.38 ============================================================= ======== ======== ======== ======== ======== Total Return................................................. (0.99)% 27.91% 2.89% (8.30)% 10.85% ------------------------------------------------------------------------------------------------------------ Net Assets, End of Year (thousands).......................... $68,666 $77,901 $66,900 $72,856 $85,892 Ratio of Expenses to Average Net Assets (B).................. 0.50% 0.49% 0.50% 0.49% 0.50% Ratio of Net Investment Income to Average Net Assets......... 4.28% 2.91% 3.49% 3.24% 2.29% ------------------------------------------------------------------------------------------------------------ See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 35 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-seven 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, 2014, 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 investments 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, 2014, there were no significant transfers between Level 1 and Level 2 and no significant 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, 2014, 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 $4 (in thousands). 36 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, 2014, 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, 2014, 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. 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, 2014, the total related amounts paid by the Fund to the CCO were $262 (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 N 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, 2014, primarily attributable to net foreign currency gains (losses) and gains on securities considered to be "passive foreign 37 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 (Decrease) (Decrease) Increase Undistributed Accumulated (Decrease) Net Investment Net Realized Paid-In Capital Income Gains (Losses) --------------- -------------- -------------- LWAS/DFA International High Book to Market Portfolio. $129 $(45) $(84) The tax character of dividends and distributions declared and paid during the years ended October 31, 2013 and October 31, 2014 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 2013................................................. $2,242 $4,494 $6,736 2014................................................. 3,319 3,304 6,623 At October 31, 2014, 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. $89 $40 $129 At October 31, 2014, 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................................ $280 $1,482 $9,956 $11,718 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, 2014, the Portfolio had no capital loss carryforwards available to offset future realized capital gains. During the year ended October 31, 2014, the Portfolio did not utilize capital loss carryforwards. At October 31, 2014, 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, as follows (amounts in thousands): Net Unrealized Federal Unrealized Unrealized Appreciation Tax Cost Appreciation Depreciation (Depreciation) -------- ------------ ------------ -------------- LWAS/DFA International High Book to Market Portfolio. $58,800 $9,958 -- $9,958 38 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 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. E. 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 agreement for the line of credit expires on March 2, 2015. The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit 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 line of credit agreement expires on January 9, 2015. There were no borrowings by the Portfolio under the lines of credit during the year ended October 31, 2014. 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. Other: At October 31, 2014, 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. H. 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. 39 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors of DFA Investment Dimensions Group Inc. and Shareholders of LWAS/DFA International High Book to Market Portfolio: 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, 2014, 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, 2014 by correspondence with the transfer agent of the investee fund, provide a reasonable basis for our opinion. PricewaterhouseCoopers LLP Philadelphia, Pennsylvania December 19, 2014 40 THE DFA INVESTMENT TRUST COMPANY PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- THE U.S. LARGE CAP VALUE SERIES VS. RUSSELL 1000 VALUE INDEX October 31, 2004-October 31, 2014 [CHART] The U.S. Large Cap Russell 1000 END DATE Value Series Value Index ------------------ ------------- 10/2004 $10,000 $10,000 11/2004 10,655 10,506 12/2004 11,082 10,858 1/2005 10,805 10,665 2/2005 11,134 11,018 3/2005 11,104 10,867 4/2005 10,728 10,672 5/2005 11,185 10,929 6/2005 11,415 11,049 7/2005 11,984 11,368 8/2005 11,886 11,319 9/2005 12,069 11,478 10/2005 11,748 11,186 11/2005 12,218 11,552 12/2005 12,234 11,621 1/2006 12,817 12,072 2/2006 12,775 12,146 3/2006 13,002 12,311 4/2006 13,367 12,624 5/2006 13,123 12,305 6/2006 13,235 12,383 7/2006 13,046 12,684 8/2006 13,260 12,897 9/2006 13,627 13,154 10/2006 14,167 13,584 11/2006 14,436 13,894 12/2006 14,726 14,206 1/2007 15,156 14,388 2/2007 14,928 14,164 3/2007 15,032 14,383 4/2007 15,671 14,914 5/2007 16,317 15,452 6/2007 16,055 15,091 7/2007 15,060 14,393 8/2007 14,772 14,554 9/2007 15,157 15,054 10/2007 15,242 15,056 11/2007 14,391 14,320 12/2007 14,343 14,182 1/2008 13,795 13,614 2/2008 13,372 13,043 3/2008 13,247 12,945 4/2008 14,082 13,577 5/2008 14,420 13,555 6/2008 12,839 12,257 7/2008 12,700 12,213 8/2008 12,946 12,421 9/2008 11,783 11,508 10/2008 9,134 9,516 11/2008 8,238 8,834 12/2008 8,506 8,956 1/2009 7,496 7,926 2/2009 6,446 6,867 3/2009 7,083 7,455 4/2009 8,228 8,254 5/2009 8,858 8,764 6/2009 8,750 8,699 7/2009 9,584 9,411 8/2009 10,234 9,904 9/2009 10,682 10,286 10/2009 10,221 9,971 11/2009 10,797 10,533 12/2009 11,095 10,720 1/2010 10,838 10,418 2/2010 11,305 10,747 3/2010 12,186 11,447 4/2010 12,573 11,743 5/2010 11,495 10,778 6/2010 10,627 10,171 7/2010 11,461 10,860 8/2010 10,770 10,395 9/2010 11,820 11,201 10/2010 12,261 11,538 11/2010 12,166 11,476 12/2010 13,352 12,382 1/2011 13,779 12,662 2/2011 14,525 13,129 3/2011 14,592 13,181 4/2011 14,965 13,532 5/2011 14,748 13,389 6/2011 14,491 13,115 7/2011 13,827 12,680 8/2011 12,661 11,888 9/2011 11,380 10,990 10/2011 12,959 12,248 11/2011 12,851 12,185 12/2011 12,952 12,430 1/2012 13,596 12,901 2/2012 14,382 13,415 3/2012 14,647 13,813 4/2012 14,348 13,672 5/2012 13,332 12,870 6/2012 14,050 13,509 7/2012 14,186 13,649 8/2012 14,748 13,945 9/2012 15,291 14,388 10/2012 15,331 14,317 11/2012 15,365 14,311 12/2012 15,833 14,607 1/2013 16,937 15,556 2/2013 17,154 15,779 3/2013 17,974 16,405 4/2013 18,164 16,653 5/2013 18,910 17,080 6/2013 18,700 16,929 7/2013 19,818 17,844 8/2013 19,235 17,167 9/2013 19,798 17,597 10/2013 20,801 18,367 11/2013 21,675 18,880 12/2013 22,251 19,358 1/2014 21,370 18,670 2/2014 22,095 19,478 3/2014 22,617 19,943 4/2014 22,766 20,132 5/2014 23,268 20,427 6/2014 23,898 20,961 7/2014 23,729 20,603 8/2014 24,481 21,361 Past performance is not predictive of 9/2014 23,878 20,920 future performance. 10/2014 24,061 21,390 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 Russell data copyright (C) Russell -------------------------------------------------------------- Investment Group 1995-2014, all rights 15.67% 18.68% 9.18% reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- THE DFA INTERNATIONAL VALUE SERIES VS. MSCI WORLD EX USA INDEX (NET DIV.) October 31, 2004-October 31, 2014 [CHART] The DFA International MSCI World ex Value Series USA Index (net dividends) ----------------- ------------------------ 10/2004 $10,000 $10,000 11/2004 10,743 10,665 12/2004 11,278 11,116 01/2005 11,166 10,897 02/2005 11,608 11,382 03/2005 11,322 11,123 04/2005 10,978 10,840 05/2005 10,992 10,859 06/2005 11,168 11,037 07/2005 11,666 11,393 08/2005 12,050 11,708 09/2005 12,389 12,242 10/2005 12,203 11,847 11/2005 12,420 12,160 12/2005 13,029 12,724 01/2006 13,919 13,529 02/2006 14,052 13,483 03/2006 14,645 13,911 04/2006 15,387 14,576 05/2006 14,764 14,022 06/2006 14,671 14,004 07/2006 14,897 14,136 08/2006 15,409 14,537 09/2006 15,622 14,526 10/2006 16,316 15,100 11/2006 16,858 15,549 12/2006 17,516 15,995 01/2007 17,846 16,093 02/2007 17,830 16,222 03/2007 18,407 16,637 04/2007 19,336 17,394 05/2007 19,997 17,781 06/2007 19,851 17,798 07/2007 19,299 17,552 08/2007 19,083 17,298 09/2007 20,079 18,281 10/2007 21,053 19,076 11/2007 19,778 18,330 12/2007 19,352 17,985 01/2008 17,784 16,364 02/2008 17,558 16,660 03/2008 17,768 16,422 04/2008 18,562 17,335 05/2008 18,570 17,598 06/2008 16,734 16,230 07/2008 16,260 15,652 08/2008 15,581 15,047 09/2008 13,761 12,874 10/2008 10,310 10,196 11/2008 9,678 9,643 12/2008 10,410 10,152 01/2009 8,973 9,204 02/2009 7,871 8,273 03/2009 8,729 8,818 04/2009 10,337 9,955 05/2009 11,874 11,214 06/2009 11,693 11,098 07/2009 13,084 12,140 08/2009 13,834 12,722 09/2009 14,539 13,247 10/2009 13,961 13,034 11/2009 14,377 13,356 12/2009 14,539 13,569 01/2010 13,699 12,933 02/2010 13,753 12,920 03/2010 14,837 13,752 04/2010 14,584 13,547 05/2010 12,877 12,052 06/2010 12,651 11,878 07/2010 14,232 12,976 08/2010 13,536 12,588 09/2010 14,991 13,795 10/2010 15,515 14,287 11/2010 14,738 13,682 12/2010 16,112 14,783 01/2011 16,798 15,102 02/2011 17,359 15,662 03/2011 16,880 15,348 04/2011 17,783 16,184 05/2011 17,142 15,704 06/2011 16,907 15,480 07/2011 16,365 15,225 08/2011 14,612 13,938 09/2011 13,012 12,538 10/2011 14,268 13,758 11/2011 13,798 13,122 12/2011 13,428 12,979 01/2012 14,331 13,679 02/2012 15,081 14,431 03/2012 14,955 14,325 04/2012 14,422 14,081 05/2012 12,642 12,476 06/2012 13,536 13,294 07/2012 13,482 13,459 08/2012 14,042 13,843 09/2012 14,539 14,263 10/2012 14,720 14,363 11/2012 14,955 14,665 12/2012 15,687 15,109 01/2013 16,428 15,852 02/2013 15,931 15,694 03/2013 15,985 15,818 04/2013 16,771 16,539 05/2013 16,572 16,168 06/2013 15,985 15,563 07/2013 17,078 16,391 08/2013 16,961 16,180 09/2013 18,235 17,323 10/2013 18,868 17,904 11/2013 18,940 18,014 12/2013 19,356 18,285 01/2014 18,651 17,547 02/2014 19,717 18,505 03/2014 19,572 18,422 04/2014 19,907 18,712 05/2014 20,133 19,002 06/2014 20,377 19,272 07/2014 19,925 18,928 Past performance is not predictive of 08/2014 19,934 18,943 future performance. 09/2014 19,057 18,165 The returns shown do not reflect the 10/2014 18,732 17,877 deduction of taxes that a shareholder Average Annual One Five Ten would pay on fund distributions or the Total Return Year Years Years redemption of fund shares. --------------------------------------------------------------- MSCI data copyright MSCI 2014, all -0.72% 6.06% 6.48% rights reserved. -------------------------------------------------------------------------------- 41 THE DFA INVESTMENT TRUST COMPANY MANAGEMENT'S DISCUSSION AND ANALYSIS (Unaudited) U.S. Equity Market Review 12 Months Ended October 31, 2014 U.S. equities had strong gains during the period. The broad U.S. equity market, as measured by the Russell 3000(R) Index, had positive returns in 9 of the 12 months. As measured by the Russell indices, large cap stocks outperformed small cap stocks. Total Return for 12 Months Ended October 31, 2014 ------------------------------------------------- Russell 3000(R) Index........................ 16.07% Russell Microcap(R) Index (micro cap stocks). 7.34% Russell 2000(R) Index (small cap stocks)..... 8.06% Russell 1000(R) Index (large cap stocks)..... 16.78% Dow Jones U.S. Select REIT Index/SM/......... 20.69% Growth stocks slightly outperformed value stocks as measured by the Russell indices. Total Return for 12 Months Ended October 31, 2014 ------------------------------------------------- Russell 2000(R) Value Index (small cap value stocks)... 7.89% Russell 2000(R) Growth Index (small cap growth stocks). 8.26% Russell 1000(R) Value Index (large cap value stocks)... 16.46% Russell 1000(R) Growth Index (large cap growth stocks). 17.11% ---------- Source: Russell data copyright (C) Russell Investment Group 1995-2014, 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 period 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 is designed 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, 2014, the Series held approximately 260 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, 2014, total returns were 15.67% for the Series and 16.46% for the Russell 1000(R) Value Index. As a result of the Series' diversified investment approach, performance was determined principally by broad trends in the U.S. equity market rather than the behavior of a limited number of stocks. The Series generally excludes REITs and highly regulated utilities from eligibility while the Index holds stocks in these sectors. REITs and utilities generally outperformed other sectors during the period, which contributed to the Series' relative underperformance as compared to the Index. Lower book to market stocks outperformed higher book to market stocks within the index. The U.S. Large Cap Value Series had less weight than the index in lower book to market stocks, which detracted from relative performance. 42 International Equity Market Review 12 Months Ended October 31, 2014 Performance of non-U.S. developed markets was generally negative for the period. Only large cap growth stocks had positive returns. As measured by the MSCI world ex USA indices, large cap stocks outperformed small cap stocks, and growth stocks outperformed value stocks. 12 Months Ended October 31, 2014 -------------------------------- Return in U.S. Dollars - ---------------------- MSCI World ex USA Index........... -0.15% MSCI World ex USA Small Cap Index. -2.14% MSCI World ex USA Value Index..... -0.62% MSCI World ex USA Growth Index.... 0.31% During the period, the U.S. dollar (USD) appreciated against developed markets currencies, detracting from USD-denominated returns of non-U.S. securities in developed markets. 12 Months Ended October 31, 2014 -------------------------------- Ten Largest Foreign Developed Markets by Market Cap Local Return Return in U.S. Dollars --------------------------------------------------- ------------ ---------------------- United Kingdom.................... 0.55% 0.12% Japan............................. 13.47% -0.70% Canada............................ 12.71% 4.26% France............................ 1.34% -6.61% Switzerland....................... 9.61% 3.13% Germany........................... 2.52% -5.52% Australia......................... 6.74% -0.92% Spain............................. 10.44% 1.78% Hong Kong......................... 10.24% 10.21% Sweden............................ 13.18% -1.03% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2014, all rights reserved. International Equity Series' Performance Overview The DFA International Value Series The DFA International Value Series is designed 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, 2014, the Series held approximately 550 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, 2014, total returns were -0.72% for the Series and -0.15% for the MSCI World ex USA Index (net dividends). As a result of the Series' diversified investment approach, performance was determined principally by broad trends in international equity markets rather than the behavior of a limited number of stocks. The Series had significantly greater exposure than the Index to value stocks. Value stocks, particularly those in Canada, generally underperformed the Index, which detracted from the Series' relative performance. 43 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, 2014 EXPENSE TABLES Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- The U.S. Large Cap Value Series ------------------------------- Actual Fund Return................. $1,000.00 $1,056.90 0.11% $0.57 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 $ 941.00 0.22% $1.08 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. 44 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 29, 2014. 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....................... 12.3% Consumer Staples............................. 6.8% Energy....................................... 20.9% Financials................................... 20.7% Health Care.................................. 10.6% Industrials.................................. 12.1% Information Technology....................... 8.6% Materials.................................... 3.3% Other........................................ -- Telecommunication Services................... 4.4% Utilities.................................... 0.3% ----- 100.0% The DFA International Value Series Consumer Discretionary....................... 11.5% Consumer Staples............................. 4.2% Energy....................................... 13.2% Financials................................... 35.2% Health Care.................................. 4.0% Industrials.................................. 9.0% Information Technology....................... 3.4% Materials.................................... 11.3% Other........................................ -- Telecommunication Services................... 5.1% Utilities.................................... 3.1% ----- 100.0% 45 THE U.S. LARGE CAP VALUE SERIES SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (95.1%) Consumer Discretionary -- (11.7%) Comcast Corp. Class A................ 9,873,756 $ 546,512,395 3.0% # Comcast Corp. Special Class A........ 3,813,064 210,252,349 1.1% General Motors Co.................... 3,814,989 119,790,655 0.7% Time Warner Cable, Inc............... 1,876,119 276,183,478 1.5% # Time Warner, Inc..................... 5,052,904 401,554,281 2.2% Other Securities..................... 691,314,995 3.7% -------------- ----- Total Consumer Discretionary............. 2,245,608,153 12.2% -------------- ----- Consumer Staples -- (6.4%) Archer-Daniels-Midland Co............ 2,861,952 134,511,744 0.7% CVS Health Corp...................... 6,986,047 599,472,693 3.3% Mondelez International, Inc. Class A. 6,213,977 219,104,829 1.2% Other Securities..................... 283,040,723 1.5% -------------- ----- Total Consumer Staples................... 1,236,129,989 6.7% -------------- ----- Energy -- (19.8%) Anadarko Petroleum Corp.............. 2,644,697 242,730,291 1.3% Apache Corp.......................... 1,895,772 146,353,598 0.8% Chevron Corp......................... 5,620,609 674,192,050 3.7% ConocoPhillips....................... 6,993,622 504,589,827 2.7% Exxon Mobil Corp..................... 4,477,321 433,001,714 2.4% Hess Corp............................ 1,628,606 138,122,075 0.7% Marathon Oil Corp.................... 3,640,872 128,886,869 0.7% Marathon Petroleum Corp.............. 1,752,484 159,300,796 0.9% National Oilwell Varco, Inc.......... 1,968,548 142,995,327 0.8% Occidental Petroleum Corp............ 2,823,071 251,055,704 1.4% Phillips 66.......................... 2,603,498 204,374,593 1.1% Valero Energy Corp................... 2,806,975 140,601,378 0.8% Other Securities..................... 653,113,763 3.5% -------------- ----- Total Energy............................. 3,819,317,985 20.8% -------------- ----- Financials -- (19.7%) American International Group, Inc.... 3,145,850 168,523,184 0.9% Bank of America Corp................. 16,826,224 288,738,004 1.6% Bank of New York Mellon Corp. (The).. 3,470,782 134,388,679 0.7% Capital One Financial Corp........... 2,096,624 173,537,568 0.9% Citigroup, Inc....................... 5,327,316 285,171,225 1.6% Goldman Sachs Group, Inc. (The)...... 919,421 174,680,796 1.0% JPMorgan Chase & Co.................. 10,466,709 633,026,560 3.4% MetLife, Inc......................... 2,280,037 123,669,207 0.7% Morgan Stanley....................... 5,045,057 176,324,742 1.0% Prudential Financial, Inc............ 1,229,198 108,833,191 0.6% Wells Fargo & Co..................... 4,057,795 215,428,337 1.2% Other Securities..................... 1,316,622,406 7.1% -------------- ----- Total Financials......................... 3,798,943,899 20.7% -------------- ----- Health Care -- (10.1%) Aetna, Inc........................... 2,009,110 165,771,666 0.9% * Express Scripts Holding Co........... 3,072,578 236,035,442 1.3% Pfizer, Inc.......................... 22,619,948 677,467,443 3.7% Thermo Fisher Scientific, Inc........ 1,580,260 185,791,168 1.0% WellPoint, Inc....................... 1,674,297 212,116,687 1.1% Other Securities..................... 468,823,592 2.6% -------------- ----- Total Health Care........................ 1,946,005,998 10.6% -------------- ----- 46 THE U.S. LARGE CAP VALUE SERIES CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Industrials -- (11.5%) CSX Corp........................................... 5,604,703 $ 199,695,568 1.1% Eaton Corp. P.L.C.................................. 1,690,402 115,606,593 0.6% FedEx Corp......................................... 828,737 138,730,574 0.8% General Electric Co................................ 21,597,811 557,439,502 3.0% # Norfolk Southern Corp.............................. 1,681,939 186,089,731 1.0% Northrop Grumman Corp.............................. 1,364,645 188,266,424 1.0% Southwest Airlines Co.............................. 3,905,821 134,672,708 0.7% Union Pacific Corp................................. 2,788,102 324,674,478 1.8% Other Securities................................... 372,674,139 2.0% --------------- ------ Total Industrials........................................ 2,217,849,717 12.0% --------------- ------ Information Technology -- (8.2%) Cisco Systems, Inc................................. 8,906,456 217,940,978 1.2% Hewlett-Packard Co................................. 9,619,949 345,163,770 1.9% # Intel Corp......................................... 9,210,936 313,263,933 1.7% #* Micron Technology, Inc............................. 3,654,213 120,917,908 0.7% Other Securities................................... 586,548,708 3.1% --------------- ------ Total Information Technology............................. 1,583,835,297 8.6% --------------- ------ Materials -- (3.2%) Freeport-McMoRan, Inc.............................. 4,647,012 132,439,842 0.7% Other Securities................................... 474,065,162 2.6% --------------- ------ Total Materials.......................................... 606,505,004 3.3% --------------- ------ Telecommunication Services -- (4.2%) # AT&T, Inc.......................................... 18,488,608 644,143,103 3.5% Other Securities................................... 161,208,509 0.9% --------------- ------ Total Telecommunication Services......................... 805,351,612 4.4% --------------- ------ Utilities -- (0.3%) Other Securities................................... 52,328,955 0.3% --------------- ------ TOTAL COMMON STOCKS...................................... 18,311,876,609 99.6% --------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 7,528 0.0% --------------- ------ TEMPORARY CASH INVESTMENTS -- (0.5%) State Street Institutional Liquid Reserves, 0.077%. 87,103,094 87,103,094 0.5% --------------- ------ SECURITIES LENDING COLLATERAL -- (4.4%) (S)@ DFA Short Term Investment Fund..................... 74,271,257 859,318,447 4.7% --------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $12,592,557,040)............................... $19,258,305,678 104.8% =============== ====== 47 THE U.S. LARGE CAP VALUE SERIES CONTINUED Summary of the Series' investments as of October 31, 2014, 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...... $ 2,245,608,153 -- -- $ 2,245,608,153 Consumer Staples............ 1,236,129,989 -- -- 1,236,129,989 Energy...................... 3,819,317,985 -- -- 3,819,317,985 Financials.................. 3,798,943,899 -- -- 3,798,943,899 Health Care................. 1,946,005,998 -- -- 1,946,005,998 Industrials................. 2,217,849,717 -- -- 2,217,849,717 Information Technology...... 1,583,835,297 -- -- 1,583,835,297 Materials................... 606,505,004 -- -- 606,505,004 Telecommunication Services.. 805,351,612 -- -- 805,351,612 Utilities................... 52,328,955 -- -- 52,328,955 Rights/Warrants............... -- $ 7,528 -- 7,528 Temporary Cash Investments.... 87,103,094 -- -- 87,103,094 Securities Lending Collateral. -- 859,318,447 -- 859,318,447 --------------- ------------ -- --------------- TOTAL......................... $18,398,979,703 $859,325,975 -- $19,258,305,678 =============== ============ == =============== See accompanying Notes to Financial Statements. 48 THE DFA INTERNATIONAL VALUE SERIES SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (94.3%) AUSTRALIA -- (5.8%) Macquarie Group, Ltd............. 1,184,395 $ 64,009,420 0.7% National Australia Bank, Ltd..... 1,748,681 54,096,766 0.6% Santos, Ltd...................... 4,404,343 50,470,467 0.5% Suncorp Group, Ltd............... 3,736,013 48,613,845 0.5% # Wesfarmers, Ltd.................. 2,317,545 90,193,505 1.0% Other Securities................. 266,392,193 2.8% ------------ ---- TOTAL AUSTRALIA...................... 573,776,196 6.1% ------------ ---- AUSTRIA -- (0.1%) Other Securities................. 13,688,459 0.2% ------------ ---- BELGIUM -- (1.2%) Other Securities................. 115,542,460 1.2% ------------ ---- CANADA -- (7.8%) Canadian Natural Resources, Ltd.. 1,849,320 64,534,631 0.7% # Manulife Financial Corp.......... 3,287,435 62,391,406 0.7% Suncor Energy, Inc............... 3,750,370 133,170,496 1.4% Other Securities................. 506,038,567 5.4% ------------ ---- TOTAL CANADA......................... 766,135,100 8.2% ------------ ---- CHINA -- (0.0%) Other Securities................. 30,085 0.0% ------------ ---- DENMARK -- (1.4%) Other Securities................. 134,026,860 1.4% ------------ ---- FINLAND -- (0.7%) Other Securities................. 74,138,749 0.8% ------------ ---- FRANCE -- (8.0%) AXA SA........................... 4,004,754 92,503,906 1.0% BNP Paribas SA................... 783,124 49,213,123 0.5% Cie de St-Gobain................. 1,103,444 47,431,371 0.5% GDF Suez......................... 3,247,971 78,860,475 0.8% Orange SA........................ 3,989,277 63,510,770 0.7% Renault SA....................... 759,515 56,497,480 0.6% Societe Generale SA.............. 1,296,228 62,466,561 0.7% Vivendi SA....................... 3,686,124 90,049,366 1.0% Other Securities................. 244,827,209 2.6% ------------ ---- TOTAL FRANCE......................... 785,360,261 8.4% ------------ ---- GERMANY -- (6.3%) Allianz SE....................... 642,692 102,202,246 1.1% Bayerische Motoren Werke AG...... 765,791 82,121,669 0.9% Daimler AG....................... 2,214,556 172,666,663 1.8% Other Securities................. 258,875,046 2.8% ------------ ---- TOTAL GERMANY........................ 615,865,624 6.6% ------------ ---- 49 THE DFA INTERNATIONAL VALUE SERIES CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- HONG KONG -- (2.7%) Hutchison Whampoa, Ltd.................. 5,076,000 $ 64,497,462 0.7% Other Securities........................ 202,183,086 2.2% -------------- ----- TOTAL HONG KONG............................. 266,680,548 2.9% -------------- ----- IRELAND -- (0.2%) Other Securities........................ 22,188,446 0.2% -------------- ----- ISRAEL -- (0.3%) Other Securities........................ 30,877,234 0.3% -------------- ----- ITALY -- (1.8%) UniCredit SpA........................... 6,991,980 50,640,963 0.5% Other Securities........................ 122,767,297 1.4% -------------- ----- TOTAL ITALY................................. 173,408,260 1.9% -------------- ----- JAPAN -- (21.0%) Honda Motor Co., Ltd.................... 2,621,200 83,797,746 0.9% Mitsubishi UFJ Financial Group, Inc..... 21,459,506 125,092,037 1.3% Mizuho Financial Group, Inc............. 51,323,400 93,527,433 1.0% Nippon Steel & Sumitomo Metal Corp...... 19,063,940 50,306,760 0.5% Nissan Motor Co., Ltd................... 5,844,900 53,315,418 0.6% NTT DOCOMO, Inc......................... 3,091,700 52,144,249 0.6% Sumitomo Mitsui Financial Group, Inc.... 2,678,800 109,249,245 1.2% Other Securities........................ 1,496,080,852 16.0% -------------- ----- TOTAL JAPAN................................. 2,063,513,740 22.1% -------------- ----- NETHERLANDS -- (3.2%) * ING Groep NV............................ 6,479,202 92,784,515 1.0% Other Securities........................ 221,541,679 2.4% -------------- ----- TOTAL NETHERLANDS........................... 314,326,194 3.4% -------------- ----- NEW ZEALAND -- (0.1%) Other Securities........................ 9,374,710 0.1% -------------- ----- NORWAY -- (0.8%) Other Securities........................ 76,742,959 0.8% -------------- ----- PORTUGAL -- (0.0%) Other Securities........................ 3,873,915 0.0% -------------- ----- SINGAPORE -- (1.2%) Other Securities........................ 116,978,973 1.3% -------------- ----- SPAIN -- (2.4%) Iberdrola SA............................ 11,714,112 82,923,213 0.9% Other Securities........................ 153,903,256 1.6% -------------- ----- TOTAL SPAIN................................. 236,826,469 2.5% -------------- ----- SWEDEN -- (3.0%) Nordea Bank AB.......................... 3,823,977 49,183,048 0.5% Telefonaktiebolaget LM Ericsson Class B. 4,879,427 57,657,241 0.6% Other Securities........................ 187,488,169 2.1% -------------- ----- TOTAL SWEDEN................................ 294,328,458 3.2% -------------- ----- 50 THE DFA INTERNATIONAL VALUE SERIES CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- SWITZERLAND -- (9.9%) ABB, Ltd................................ 3,170,149 $ 69,548,848 0.7% Holcim, Ltd............................. 887,877 63,016,649 0.7% Novartis AG............................. 2,434,443 225,923,258 2.4% Novartis AG ADR......................... 681,571 63,174,816 0.7% Swiss Re AG............................. 1,547,148 125,103,648 1.3% UBS AG.................................. 4,344,251 75,538,418 0.8% Zurich Insurance Group AG............... 333,311 100,869,393 1.1% Other Securities........................ 246,924,514 2.7% -------------- ------ TOTAL SWITZERLAND............................. 970,099,544 10.4% -------------- ------ UNITED KINGDOM -- (16.4%) Anglo American P.L.C.................... 3,310,475 69,895,879 0.7% # Barclays P.L.C. Sponsored ADR........... 5,060,358 77,929,513 0.8% BP P.L.C. Sponsored ADR................. 7,387,909 321,078,524 3.4% Glencore P.L.C.......................... 9,442,477 48,445,899 0.5% HSBC Holdings P.L.C..................... 9,197,250 93,769,306 1.0% HSBC Holdings P.L.C. Sponsored ADR...... 2,089,967 106,630,116 1.1% # Royal Dutch Shell P.L.C. ADR(780259107). 3,323,210 248,144,091 2.7% Royal Dutch Shell P.L.C. ADR(780259206). 755,142 54,211,644 0.6% Standard Chartered P.L.C................ 4,120,837 62,029,541 0.7% Vodafone Group P.L.C.................... 27,417,470 91,175,542 1.0% Vodafone Group P.L.C. Sponsored ADR..... 2,196,216 72,958,305 0.8% Other Securities........................ 361,708,827 3.9% -------------- ------ TOTAL UNITED KINGDOM.......................... 1,607,977,187 17.2% -------------- ------ TOTAL COMMON STOCKS........................... 9,265,760,431 99.2% -------------- ------ PREFERRED STOCKS -- (0.2%) GERMANY -- (0.2%) Other Securities........................ 20,887,882 0.2% -------------- ------ RIGHTS/WARRANTS -- (0.0%) FRANCE -- (0.0%) Other Securities........................ 241,112 0.0% -------------- ------ SPAIN -- (0.0%) Other Securities........................ 648,719 0.0% -------------- ------ TOTAL RIGHTS/WARRANTS......................... 889,831 0.0% -------------- ------ Value+ - ------ - SECURITIES LENDING COLLATERAL -- (5.5%) (S)@ DFA Short Term Investment Fund.......... 46,617,671 539,366,448 5.8% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $8,769,870,982)................................ $9,826,904,592 105.2% ============== ====== 51 THE DFA INTERNATIONAL VALUE SERIES CONTINUED Summary of the Series' investments as of October 31, 2014, 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................... $ 18,343,012 $ 555,433,184 -- $ 573,776,196 Austria..................... -- 13,688,459 -- 13,688,459 Belgium..................... 3,605,664 111,936,796 -- 115,542,460 Canada...................... 766,135,100 -- -- 766,135,100 China....................... -- 30,085 -- 30,085 Denmark..................... -- 134,026,860 -- 134,026,860 Finland..................... 1,844,352 72,294,397 -- 74,138,749 France...................... 4,069,567 781,290,694 -- 785,360,261 Germany..................... 60,551,498 555,314,126 -- 615,865,624 Hong Kong................... -- 266,680,548 -- 266,680,548 Ireland..................... 4,822,991 17,365,455 -- 22,188,446 Israel...................... 752,406 30,124,828 -- 30,877,234 Italy....................... 21,181,850 152,226,410 -- 173,408,260 Japan....................... 69,435,900 1,994,077,840 -- 2,063,513,740 Netherlands................. 26,977,934 287,348,260 -- 314,326,194 New Zealand................. -- 9,374,710 -- 9,374,710 Norway...................... 5,167,596 71,575,363 -- 76,742,959 Portugal.................... -- 3,873,915 -- 3,873,915 Singapore................... -- 116,978,973 -- 116,978,973 Spain....................... 6,381,719 230,444,750 -- 236,826,469 Sweden...................... 11,273,598 283,054,860 -- 294,328,458 Switzerland................. 96,770,573 873,328,971 -- 970,099,544 United Kingdom.............. 924,692,710 683,284,477 -- 1,607,977,187 Preferred Stocks Germany..................... -- 20,887,882 -- 20,887,882 Rights/Warrants France...................... -- 241,112 -- 241,112 Spain....................... -- 648,719 -- 648,719 Securities Lending Collateral. -- 539,366,448 -- 539,366,448 -------------- -------------- -- -------------- TOTAL......................... $2,022,006,470 $7,804,898,122 -- $9,826,904,592 ============== ============== == ============== See accompanying Notes to Financial Statements. 52 THE DFA INVESTMENT TRUST COMPANY STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2014 (Amounts in thousands) The U.S. The DFA Large Cap International Value Series* Value Series* ------------- ------------- ASSETS: Investments at Value (including $879,034 and $520,229 of securities on loan, respectively). $18,311,884 $9,287,538 Temporary Cash Investments at Value & Cost................................................. 87,103 -- Collateral from Securities on Loan Invested in Affiliate at Value & Cost................... 859,318 539,366 Foreign Currencies at Value................................................................ -- 17,690 Cash....................................................................................... 13,825 5,422 Receivables: Investment Securities Sold............................................................... 20,227 24,359 Dividends, Interest and Tax Reclaims..................................................... 21,253 23,482 Securities Lending Income................................................................ 283 296 ----------- ---------- Total Assets.......................................................................... 19,313,893 9,898,153 ----------- ---------- LIABILITIES: Payables: Upon Return of Securities Loaned......................................................... 859,318 539,366 Investment Securities Purchased.......................................................... 75,770 13,093 Due to Advisor........................................................................... 1,485 1,536 Unrealized Loss on Foreign Currency Contracts.............................................. -- 8 Accrued Expenses and Other Liabilities..................................................... 638 484 ----------- ---------- Total Liabilities..................................................................... 937,211 554,487 ----------- ---------- NET ASSETS................................................................................. $18,376,682 $9,343,666 =========== ========== Investments at Cost........................................................................ $11,646,135 $8,230,505 =========== ========== Foreign Currencies at Cost................................................................. $ -- $ 17,831 =========== ========== ---------- * See Note I in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 53 THE DFA INVESTMENT TRUST COMPANY STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2014 (Amounts in thousands) The U.S. The DFA Large Cap International Value Series Value Series ------------ ------------- Investment Income Dividends (Net of Foreign Taxes Withheld of $0 and $24,564, respectively). $ 334,109 $ 429,413 Interest.................................................................. 25 1 Income from Securities Lending............................................ 3,070 10,716 ---------- --------- Total Investment Income................................................ 337,204 440,130 ---------- --------- Expenses Investment Advisory Services Fees......................................... 16,749 18,658 Accounting & Transfer Agent Fees.......................................... 840 479 Custodian Fees............................................................ 177 807 Shareholders' Reports..................................................... 24 14 Directors'/Trustees' Fees & Expenses...................................... 118 66 Professional Fees......................................................... 320 255 Other..................................................................... 71 82 ---------- --------- Total Expenses......................................................... 18,299 20,361 ---------- --------- Fees Paid Indirectly...................................................... -- (12) ---------- --------- Net Expenses.............................................................. 18,299 20,349 ---------- --------- Net Investment Income (Loss).............................................. 318,905 419,781 ---------- --------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold.............................................. 755,725 173,096 Foreign Currency Transactions........................................... -- (1,763) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.............................. 1,319,300 (672,491) Translation of Foreign Currency Denominated Amounts..................... -- (1,379) ---------- --------- Net Realized and Unrealized Gain (Loss)................................... 2,075,025 (502,537) ---------- --------- Net Increase (Decrease) in Net Assets Resulting from Operations............. $2,393,930 $ (82,756) ========== ========= See accompanying Notes to Financial Statements. 54 THE DFA INVESTMENT TRUST COMPANY STATEMENTS OF CHANGES IN NET ASSETS (Amounts in thousands) The U.S. Large Cap The DFA International Value Series Value Series ------------------------ ----------------------- Year Year Year Year Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2014 2013 ----------- ----------- ---------- ----------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)................................ $ 318,905 $ 250,494 $ 419,781 $ 252,489 Net Realized Gain (Loss) on: Investment Securities Sold*............................... 755,725 1,042,669 173,096 394,216 Futures................................................... -- -- -- (1,587) Foreign Currency Transactions............................. -- -- (1,763) (2,158) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency................ 1,319,300 2,531,751 (672,491) 1,329,657 Translation of Foreign Currency Denominated Amounts....... -- -- (1,379) 544 ----------- ----------- ---------- ----------- Net Increase (Decrease) in Net Assets Resulting from Operations.............................................. 2,393,930 3,824,914 (82,756) 1,973,161 ----------- ----------- ---------- ----------- Transactions in Interest: Contributions............................................... 1,721,914 1,639,135 1,022,273 1,055,913 Withdrawals................................................. (578,150) (1,214,213) (387,981) (1,475,193) ----------- ----------- ---------- ----------- Net Increase (Decrease) from Transactions in Interest.... 1,143,764 424,922 634,292 (419,280) ----------- ----------- ---------- ----------- Total Increase (Decrease) in Net Assets.................. 3,537,694 4,249,836 551,536 1,553,881 Net Assets Beginning of Year........................................... 14,838,988 10,589,152 8,792,130 7,238,249 ----------- ----------- ---------- ----------- End of Year................................................. $18,376,682 $14,838,988 $9,343,666 $ 8,792,130 =========== =========== ========== =========== ---------- * Net of foreign capital gain taxes withheld of $0, $0, $0 and $3, respectively. See accompanying Notes to Financial Statements. 55 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, 2014 2013 2012 2011 2010 ----------------------------------------------------------------------------------------------------------------------------- Total Return................................................. 15.67% 35.68% 18.31% 5.69% 19.96% ----------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $18,376,682 $14,838,988 $10,589,152 $9,335,107 $8,816,400 Ratio of Expenses to Average Net Assets...................... 0.11% 0.11% 0.12% 0.12% 0.12% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)................................................. 0.11% 0.11% 0.12% 0.12% 0.12% Ratio of Net Investment Income to Average Net Assets......... 1.90% 1.98% 2.15% 1.79% 2.02% Portfolio Turnover Rate...................................... 15% 15% 10% 14% 28% ----------------------------------------------------------------------------------------------------------------------------- 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, 2014 2013 2012 2011 2010 --------------------------------------------------------------------------------------------------------------------------- Total Return................................................. (0.72)% 28.18% 3.17% (8.04)% 11.13% --------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $9,343,666 $8,792,130 $7,238,249 $6,955,907 $6,919,633 Ratio of Expenses to Average Net Assets...................... 0.22% 0.22% 0.24% 0.23% 0.24% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)................................................. 0.22% 0.22% 0.24% 0.23% 0.24% Ratio of Net Investment Income to Average Net Assets......... 4.50% 3.20% 3.75% 3.47% 2.55% Portfolio Turnover Rate...................................... 17% 15% 14% 9% 20% --------------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 56 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 ask prices which approximates 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, 2:00 a.m. ET), which is fourteen hours before the close of the NYSE (normally, 4:00 p.m. ET) and the time that the net asset value of the International Series is computed. 57 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, 2014, there were no significant transfers between Level 1 and Level 2 and no significant 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 58 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, 2014, 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, 2014, 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, 2014, expenses reduced were as follows (amounts in thousands): Fees Paid Indirectly ---------- The DFA International Value Series. $12 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, 2014, the total related amounts paid by the Trust to the CCO were $83 (in thousands). The total related amounts paid by each of the Series are included in Other Expenses on the Statement of Operations. 59 D. Deferred Compensation: At October 31, 2014, 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.... $399 The DFA International Value Series. 284 E. Purchases and Sales of Securities: For the year ended October 31, 2014, 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.... $3,909,998 $2,450,419 The DFA International Value Series. 2,543,963 1,602,168 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, 2014, 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, as follows (amounts in thousands): Net Unrealized Federal Unrealized Unrealized Appreciation Tax Cost Appreciation Depreciation (Depreciation) ----------- ------------ ------------ -------------- The U.S. Large Cap Value Series.... $12,592,751 $6,828,954 $(163,400) $6,665,554 The DFA International Value Series. 8,784,721 1,642,679 (600,496) 1,042,183 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 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. 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 60 United States of America. Consequently, acquisition and disposition of international securities held by the Series may be inhibited. H. 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 agreement for the line of credit expires on March 2, 2015. The Trust, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit 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 line of credit agreement expires on January 9, 2015. For the year ended October 31, 2014, 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.... 0.85% $11,241 11 $3 $32,996 The DFA International Value Series. 0.83% 8,088 9 2 16,208 * Number of Days Outstanding represents the total of single or consecutive days during the year ended October 31, 2014, 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, 2014. I. Securities Lending: As of October 31, 2014, 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 U.S. Large Cap Value Series and 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 $27,105 and $7,009 (in thousands), respectively. 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. In the event of the bankruptcy of the borrower, a Series could experience delay in recovering the loaned securities or only recover cash or a security of equivalent value. 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 61 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 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. 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, described below, 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. Oral argument on the appeal was held on November 5, 2014, and the parties await the Second Circuit's ruling. The Committee Action remains pending, and a motion to dismiss on behalf of all shareholder defendants in the Committee Action was filed on May 23, 2014. The motion to dismiss is fully briefed, and the parties await the scheduling of oral argument on the motion. The Committee Action is stayed pending the disposition of the motion to dismiss. Litigation counsel to The U.S. Large Cap Value Series in the Lawsuits has advised management that it 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. 62 The U.S. Large Cap Value Series also cannot quantify the cost of the Lawsuits that could potentially be 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. 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. 63 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Trustees of The DFA Investment Trust Company and Shareholders of the Series, as defined: 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, 2014, 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, 2014 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 19, 2014 64 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 Strategy Committee (the "Strategy 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, 2014. 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, 2014. Each Board's Strategy Committee consists of both interested and disinterested Trustees/Directors. The Strategy Committee is comprised of John P. Gould, Edward P. Lazear, Myron S. Scholes and Eduardo A. Repetto. The Strategy 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 Strategy 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 Strategy Committee was formed on December 17, 2010, and there were two Strategy Committee meetings held during the fiscal year ended October 31, 2014. 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. 65 Name, Position Portfolios within the DFA Principal Occupation(s) During Past 5 with the Fund, Address and Term of Office/1/ and Fund Complex/2/ Years and Other Directorships of Public Year of Birth Length of Service Overseen Companies Held ------------------------------------------------------------------------------------------------------------------------ Disinterested Trustees/Directors ------------------------------------------------------------------------------------------------------------------------ George M. Constantinides DFAIDG-Since 1983 108 portfolios in 4 Leo Melamed Professor of Finance, Director of DFAIDG and DIG. DIG-Since 1993 investment companies University of Chicago Booth School of Trustee of DFAITC and DEM. DFAITC-Since 1992 Business. The University of Chicago DEM-Since 1993 Booth School of Business 5807 S. Woodlawn Avenue Chicago, IL 60637 1947 ------------------------------------------------------------------------------------------------------------------------ John P. Gould DFAIDG-Since 1986 108 portfolios in 4 Steven G. Rothmeier Professor and Director of DFAIDG and DIG. DIG-Since 1993 investment companies Distinguished Service Professor of Trustee of DFAITC and DEM DFAITC-Since 1992 Economics, University of Chicago Booth The University of Chicago DEM-Since 1993 School of Business (since 1965). Member Booth School of Business and Chair, Competitive Markets Advisory 5807 S. Woodlawn Avenue Council, Chicago Mercantile Exchange Chicago, IL 60637 (futures trading exchange) (since 1939 2004). Trustee, Harbor Fund (registered investment company) (29 Portfolios) (since 1994). Formerly, Member of the Board of Milwaukee Insurance Company (1997-2010). ------------------------------------------------------------------------------------------------------------------------ Roger G. Ibbotson DFAIDG-Since 1981 108 portfolios in 4 Professor in Practice of Finance, Yale Director of DFAIDG and DIG. DIG-Since 1993 investment companies School of Management (since 1984). Trustee of DFAITC and DEM. DFAITC-Since 1992 Chairman, CIO and Partner, Zebra Yale School of Management DEM-Since 1993 Capital Management, LLC (hedge fund and P.O. Box 208200 asset manager) (since 2001). Consultant New Haven, CT 06520-8200 to Morningstar Inc. (since 2006). 1943 Formerly, Director, BIRR Portfolio Analysis, Inc. (software products) (1990-2010). ------------------------------------------------------------------------------------------------------------------------ Edward P. Lazear DFAIDG-Since 2010 108 portfolios in 4 Morris Arnold Cox Senior Fellow, Hoover Director of DFAIDG and DIG. DIG-Since 2010 investment companies Institution (since 2002). Jack Steele Trustee of DFAITC and DEM. DFAITC-Since 2010 Parker Professor of Human Resources Stanford University Graduate DEM-Since 2010 Management and Economics, Graduate School of Business School of Business, Stanford University 518 Memorial Way (since 1995). Cornerstone Research Stanford, CA 94305-5015 (expert testimony and economic and 1948 financial analysis) (since 2009). Formerly, 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 DFAIDG-Since 1981 108 portfolios in 4 Chief Investment Strategist, Janus Director of DFAIDG and DIG. DIG-Since 1993 investment companies Capital Group Inc. (since 2014). Frank Trustee of DFAITC and DEM. DFAITC-Since 1992 E. Buck Professor of Finance Emeritus, c/o Dimensional Fund DEM-Since 1993 Graduate School of Business, Stanford Advisors, LP University (since 1981). Chairman, 6300 Bee Cave Road Ruapay Inc. (since 2013). Formerly, Building 1 Chairman, Platinum Grove Asset Austin, TX 78746 Management, L.P. (hedge fund) 1941 (formerly, Oak Hill Platinum Partners) (1999-2009). Formerly, Director, American Century Fund Complex (registered investment companies) (43 Portfolios) (1980-2014). ------------------------------------------------------------------------------------------------------------------------ Abbie J. Smith DFAIDG-Since 2000 108 portfolios in 4 Boris and Irene Stern Distinguished Director of DFAIDG and DIG. DIG-Since 2000 investment companies Service Professor of Accounting, Trustee of DFAITC and DEM. DFAITC-Since 2000 University of Chicago Booth School of The University of Chicago DEM-Since 2000 Business (since 1980). Director, HNI Booth School of Business Corporation (formerly known as HON 5807 S. Woodlawn Avenue Industries Inc.) (office furniture) Chicago, IL 60637 (since 2000). Director, Ryder System 1953 Inc. (transportation, logistics and supply-chain management) (since 2003). Trustee, UBS Funds (4 investment companies within the fund complex) (33 portfolios) (since 2009). Formerly, Co-Director Investment Research, Fundamental Investment Advisors (hedge fund) (2008-2011). ------------------------------------------------------------------------------------------------------------------------ 66 Name, Position Portfolios within the with the Fund, Address Term of Office/1/ and DFA Fund Complex/2/ Principal Occupation(s) During Past 5 Years and and Year of Birth Length of Service Overseen Other Directorships of Public Companies Held -------------------------------------------------------------------------------------------------------------------------------- Interested Trustees/Directors* -------------------------------------------------------------------------------------------------------------------------------- David G. Booth DFAIDG-Since 1981 108 portfolios in 4 Chairman, Director/Trustee, President, Co-Chief Chairman, Director/Trustee, DIG-Since 1992 investment companies Executive Officer and formerly, Chief Executive President and Co-Chief DFAITC-Since 1992 Officer (until 1/1/2010) of the following companies: Executive Officer DEM-Since 1993 Dimensional Holdings Inc., Dimensional Fund 6300 Bee Cave Road, Advisors LP, DFA Securities LLC, DEM, DFAIDG, Building One DIG and DFAITC (collectively, the "DFA Entities"). Austin, TX 78746 Director of Dimensional Fund Advisors Ltd. and 1946 formerly, Chief Investment Officer. Director of DFA Australia Limited and formerly, President and Chief Investment Officer. Director of Dimensional Advisors Ltd., Dimensional Funds plc and Dimensional Funds II plc. Formerly, President, Dimensional SmartNest (US) LLC (2009-2014). Formerly, Limited Partner, Oak Hill Partners (2001- 2010). Limited Partner, VSC Investors, LLC (since 2007). Trustee, University of Chicago. Trustee, University of Kansas Endowment Association. Formerly, Director, SA Funds (registered investment company). Chairman, Director and Co- Chief Executive Officer of Dimensional Fund Advisors Canada ULC. Director and President (since 2012) of Dimensional Japan Ltd. Chairman, Director, President and Co-Chief Executive Officer of Dimensional Cayman Commodity Fund I Ltd. (since 2010). -------------------------------------------------------------------------------------------------------------------------------- Eduardo A. Repetto DFAIDG-Since 2009 108 portfolios in 4 Co-Chief Executive Officer (beginning January Director/Trustee, Co-Chief DIG-Since 2009 investment companies 2010), Co-Chief Investment Officer (since June Executive Officer and DFAITC-Since 2009 2014), Director/Trustee, and formerly, Chief Co-Chief Investment Officer DEM-Since 2009 Investment Officer (March 2007 - June 2014) of the 6300 Bee Cave Road, DFA Entities. Director, Co-Chief Executive Officer Building One and Chief Investment Officer (since 2010) of Austin, TX 78746 Dimensional Cayman Commodity Fund I Ltd. 1967 Director, Co-Chief Executive Officer, President and Co-Chief Investment Officer of Dimensional Fund Advisors Canada ULC and formerly, Chief Investment Officer (until April 2014). Co-Chief Investment Officer, Vice President, and Director of DFA Australia Limited and formerly, Chief Investment Officer (until April 2014). Director of Dimensional Fund Advisors Ltd., Dimensional Funds plc, Dimensional Funds II plc and Dimensional Advisors Ltd. Formerly, Vice President of the DFA Entities and Dimensional Fund Advisors Canada ULC. Director and Chief Investment Officer (since December 2012) of Dimensional Japan Ltd. /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 DFAIDG, DIG; DFAITC and DEM. Each disinterested Trustee/Director also serves on the Independent Review Committee of the Dimensional Funds, mutual funds registered in the provinces of Canada and managed by an affiliate of Dimensional Fund Advisors LP (the "Advisor"), Dimensional Fund Advisors Canada ULC. * 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 the Advisor. 67 Officers Below is the name, year of birth, information regarding positions with the Funds and the principal occupation for each officer of the Funds. The address of each officer is 6300 Bee Cave Road, Building One, Austin, TX 78746. Each of the officers listed below holds the same office (except as otherwise noted) in the DFA Entities. Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation(s) During Past 5 Years ---------------------------------------------------------------------------------------------------------------------- Officers ---------------------------------------------------------------------------------------------------------------------- April A. Aandal Vice President Since 2008 Vice President of all the DFA Entities. 1963 ---------------------------------------------------------------------------------------------------------------------- Robyn G. Alcorta Vice President Since 2012 Vice President of all the DFA Entities. Formerly, Vice 1974 President, Business Development at Capson Physicians Insurance Company (2010-2012); Vice President at Charles Schwab (2007-2010). ---------------------------------------------------------------------------------------------------------------------- Darryl D. Avery Vice President Since 2005 Vice President of all the DFA Entities. 1966 ---------------------------------------------------------------------------------------------------------------------- Arthur H. Barlow Vice President Since 1993 Vice President of all the DFA Entities. Director and 1955 Managing Director of Dimensional Fund Advisors Ltd (since September 2013). ---------------------------------------------------------------------------------------------------------------------- Peter Bergan Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Senior Infrastructure Manager for Dimensional Fund Advisors LP (January 2011-January 2014); Partner at Stonehouse Consulting (2010). ---------------------------------------------------------------------------------------------------------------------- Lana Bergstein Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Client Service Manager for Dimensional Fund Advisors LP (February 2008-January 2014). ---------------------------------------------------------------------------------------------------------------------- Stanley W. Black Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1970 Senior Research Associate (January 2012-January 2014) and Research Associate (2006-2011) for Dimensional Fund Advisors LP ---------------------------------------------------------------------------------------------------------------------- Aaron T. Borders Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1973 Regional Director for Dimensional Fund Advisors LP (April 2008-January 2014). ---------------------------------------------------------------------------------------------------------------------- Scott A. Bosworth Vice President Since 2007 Vice President of all the DFA Entities. 1968 ---------------------------------------------------------------------------------------------------------------------- Valerie A. Brown Vice President and Since 2001 Vice President and Assistant Secretary of all the 1967 Assistant Secretary DFA Entities, DFA Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Cayman Commodity Fund I Ltd., Dimensional Fund Advisors Pte. and Dimensional Hong Kong Limited. Director, Vice President and Assistant Secretary of Dimensional Fund Advisors Canada ULC. ---------------------------------------------------------------------------------------------------------------------- David P. Butler Vice President Since 2007 Vice President of all the DFA Entities. Head of 1964 Global Financial Services for Dimensional Fund Advisors LP (since 2008). ---------------------------------------------------------------------------------------------------------------------- Douglas M. Byrkit Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1970 Regional Director for Dimensional Fund Advisors LP (December 2010-January 2012); Regional Director at Russell Investments (April 2006-December 2010). ---------------------------------------------------------------------------------------------------------------------- Hunt M. Cairns Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1973 Regional Director (January 2010-January 2014) and Senior Associate (July 2008-December 2009) for Dimensional Fund Advisors LP. ---------------------------------------------------------------------------------------------------------------------- James G. Charles Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1956 Regional Director for Dimensional Fund Advisors LP (2008-2010). ---------------------------------------------------------------------------------------------------------------------- 68 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------------- Joseph H. Chi Vice President Since 2009 Vice President of all the DFA Entities. Co-Head of 1966 Portfolio Management (since March 2012) and Senior Portfolio Manager (since January 2012) for Dimensional Fund Advisors LP. Formerly, Portfolio Manager for Dimensional Fund Advisors LP (October 2005 to January 2012). ------------------------------------------------------------------------------------------------------------------------- Pil Sun Choi Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1972 Counsel for Dimensional Fund Advisors LP (April 2012 - January 2014); Vice President and Counsel for AllianceBernstein L.P. (2006-2012). ------------------------------------------------------------------------------------------------------------------------- Stephen A. Clark Vice President Since 2004 Vice President of all the DFA Entities, DFA Australia 1972 Limited and Dimensional Fund Advisors Canada ULC. Head of Global Institutional Services for Dimensional Fund Advisors LP (since January 2014). Formerly, Head of Institutional, North America (March 2012 to December 2013) and Head of Portfolio Management (January 2006 to March 2012) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- Matt B. Cobb Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (September 2011-March 2013); Vice President at MullinTBG (2005-2011). ------------------------------------------------------------------------------------------------------------------------- Rose C. Cooke Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (August 2010-March 2014); Vice President, Sales and Business Development at AdvisorsIG (PPMG) (2009-2010); Vice President at Credit Suisse (2007- 2009). ------------------------------------------------------------------------------------------------------------------------- Ryan Cooper Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1979 Regional Director for Dimensional Fund Advisors LP (2003-March 2014). ------------------------------------------------------------------------------------------------------------------------- Jeffrey D. Cornell Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1976 Regional Director for Dimensional Fund Advisors LP (August 2002-January 2012). ------------------------------------------------------------------------------------------------------------------------- Robert P. Cornell Vice President Since 2007 Vice President of all the DFA Entities. 1949 ------------------------------------------------------------------------------------------------------------------------- George H. Crane Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1955 Senior Vice President and Managing Director at State Street Bank & Trust Company (2007-2008). ------------------------------------------------------------------------------------------------------------------------- Christopher S. Crossan Vice President and Since 2004 Vice President and Chief Compliance Officer of all 1965 Global Chief the DFA Entities, DFA Australia Limited, and Compliance Officer Dimensional Fund Advisors Ltd. Chief Compliance Officer of Dimensional Fund Advisors Canada. Formerly, Vice President and Chief Compliance Officer for Dimensional SmartNest (US) LLC (October 2010- 2014). ------------------------------------------------------------------------------------------------------------------------- James L. Davis Vice President Since 1999 Vice President of all the DFA Entities. 1956 ------------------------------------------------------------------------------------------------------------------------- Robert T. Deere Vice President Since 1994 Vice President of all the DFA Entities, DFA Australia 1957 Limited and Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------------- Johnathon K. DeKinder Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1979 Regional Director (January 2012-January 2014) and Senior Associate (August 2010-December 2011) for Dimensional Fund Advisors LP; MBA and MPA at the University of Texas at Austin (August 2007-May 2010). ------------------------------------------------------------------------------------------------------------------------- Peter F. Dillard Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1972 Research Associate (August 2008-March 2010) and Research Assistant (April 2006-August 2008) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- 69 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ----------------------------------------------------------------------------------------------------------------------- Robert W. Dintzner Vice President Since 2001 Vice President of all the DFA Entities. 1970 ----------------------------------------------------------------------------------------------------------------------- Karen M. Dolan Vice President Since 2014 Vice President of all the DFA Entities. Head of 1979 Marketing for Dimensional Fund Advisors LP (since February 2013). Formerly, Senior Manager of Research and Marketing for Dimensional Fund Advisors LP (June 2012-January 2013); Director of Mutual Fund Analysis at Morningstar (January 2008- May 2012). ----------------------------------------------------------------------------------------------------------------------- Richard A. Eustice Vice President and Since 1998 Vice President and Assistant Secretary of all the 1965 Assistant Secretary DFA Entities and DFA Australia Limited. Chief Operating Officer for Dimensional Fund Advisors Pte. Ltd. (since April 2013). Formerly, Chief Operating Officer for Dimensional Fund Advisors Ltd. (July 2008-March 2013). ----------------------------------------------------------------------------------------------------------------------- Gretchen A. Flicker Vice President Since 2004 Vice President of all the DFA Entities. 1971 ----------------------------------------------------------------------------------------------------------------------- Jed S. Fogdall Vice President Since 2008 Vice President of all the DFA Entities. Co-Head of 1974 Portfolio Management (since March 2012) and Senior Portfolio Manager (since January 2012) for Dimensional Fund Advisors LP. Formerly, Portfolio Manager for Dimensional Fund Advisors LP (September 2004-January 2012). ----------------------------------------------------------------------------------------------------------------------- Edward A. Foley Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1976 Regional Director for Dimensional Fund Advisors LP (August 2011-January 2014); Senior Vice President of First Trust Advisors L.P. (2007-July 2011). ----------------------------------------------------------------------------------------------------------------------- Jeremy P. Freeman Vice President Since 2009 Vice President of all the DFA Entities. 1970 ----------------------------------------------------------------------------------------------------------------------- Mark R. Gochnour Vice President Since 2007 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Tom M. Goodrum Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1968 Managing Director at BlackRock (2004-January 2012). ----------------------------------------------------------------------------------------------------------------------- Henry F. Gray Vice President Since 2000 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- John T. Gray Vice President Since 2007 Vice President of all the DFA Entities. 1974 ----------------------------------------------------------------------------------------------------------------------- Christian Gunther Vice President Since 2011 Vice President of all the DFA Entities. Senior Trader 1975 for Dimensional Fund Advisors LP (since 2012). Formerly, Senior Trader (2009-2012). ----------------------------------------------------------------------------------------------------------------------- Robert W. Hawkins Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Counsel for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President and Senior Counsel for State Street Global Advisors (November 2008-January 2011). ----------------------------------------------------------------------------------------------------------------------- Joel H. Hefner Vice President Since 2007 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Julie C. Henderson Vice President and Since 2005 Vice President and Fund Controller of all the DFA 1974 Fund Controller Entities, Dimensional Cayman Commodity Fund I Ltd. and Dimensional Japan Ltd. ----------------------------------------------------------------------------------------------------------------------- Kevin B. Hight Vice President Since 2005 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Christine W. Ho Vice President Since 2004 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Michael C. Horvath Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1960 Managing Director, Co-Head Global Consultant Relations at BlackRock (2004-2011). ----------------------------------------------------------------------------------------------------------------------- 70 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years --------------------------------------------------------------------------------------------------------------------------- Jeff J. Jeon Vice President Since 2004 Vice President of all the DFA Entities and 1973 Dimensional Cayman Commodity Fund I Ltd. --------------------------------------------------------------------------------------------------------------------------- Garret D. Jones Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1971 Manager of Sales and Marketing Systems (January 2011-January 2014) and Project Manager (2007- 2010) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Stephen W. Jones Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1968 Facilities Manager for Dimensional Fund Advisors LP (October 2008-January 2012). --------------------------------------------------------------------------------------------------------------------------- David M. Kavanaugh Vice President Since 2014 Vice President of all the DFA Entities. Head of 1978 Operations for Financial Advisor Services for Dimensional Fund Advisors LP (since July 2014). Formerly, Counsel of Dimensional Fund Advisors LP (August 2011-January 2014); Associate at Andrews Kurth LLP (2006-2011). --------------------------------------------------------------------------------------------------------------------------- Patrick M. Keating Vice President and Since 2003 Vice President of all the DFA Entities, Dimensional 1954 Chief Operating Officer Cayman Commodity Fund I Ltd., Dimensional Japan Ltd. and Dimensional Advisors Ltd. Chief Operating Officer of Dimensional Holdings Inc., DFA Securities LLC, Dimensional Fund Advisors LP, Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan Ltd., Dimensional Advisors Ltd. And Dimensional Fund Advisors Pte. Ltd. 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 Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1977 Regional Director for Dimensional Fund Advisors LP (October 2004-January 2013). --------------------------------------------------------------------------------------------------------------------------- Glenn E. Kemp Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1948 Regional Director for Dimensional Fund Advisors LP (April 2006-January 2012). --------------------------------------------------------------------------------------------------------------------------- David M. Kershner Vice President Since 2010 Vice President of all the DFA Entities. Portfolio 1971 Manager for Dimensional Fund Advisors LP (since June 2004). --------------------------------------------------------------------------------------------------------------------------- Kimberly L. Kiser Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1972 Creative Director for Dimensional Fund Advisors LP (September 2012-January 2014); Vice President and Global Creative Director at Morgan Stanley (2007-2012); Visiting Assistant Professor, Graduate Communications Design at Pratt Institute (2004-2012). --------------------------------------------------------------------------------------------------------------------------- Timothy R. Kohn Vice President Since 2011 Vice President of all the DFA Entities. Head of 1971 Defined Contribution Sales for Dimensional Fund Advisors LP (since August 2010). --------------------------------------------------------------------------------------------------------------------------- Joseph F. Kolerich Vice President Since 2004 Vice President of all the DFA Entities. Senior 1971 Portfolio Manager of Dimensional Fund Advisors LP (since January 2012). Formerly, Portfolio Manager for Dimensional (April 2001-January 2012). --------------------------------------------------------------------------------------------------------------------------- Mark D. Krasniewski Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1981 Senior Associate, Investment Analytics and Data (January 2012-December 2012) and Systems Developer (June 2007-December 2011) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Kahne L. Krause Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1966 Regional Director (May 2010-January 2014) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Stephen W. Kurad Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1968 Regional Director for Dimensional Fund Advisors LP (2007-2010). --------------------------------------------------------------------------------------------------------------------------- 71 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------------- Michael F. Lane Vice President Since 2004 Vice President of all the DFA Entities. Formerly, 1967 Chief Executive Officer for Dimensional SmartNest (US) LLC (July 2012-November 2014). ------------------------------------------------------------------------------------------------------------------------- Francis R. Lao Vice President Since 2011 Vice President of all the DFA Entities. Formerly, Vice 1969 President - Global Operations at Janus Capital Group (2005-2011). ------------------------------------------------------------------------------------------------------------------------- David F. LaRusso Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1978 Senior Trader (January 2010-December 2012) and Trader (2000-2009) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- Juliet H. Lee Vice President Since 2005 Vice President of all the DFA Entities. 1971 ------------------------------------------------------------------------------------------------------------------------- Marlena I. Lee Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1980 Research Associate for Dimensional Fund Advisors LP (July 2008-2010). ------------------------------------------------------------------------------------------------------------------------- John B. Lessley Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1960 Regional Director for Dimensional Fund Advisors LP (January 2008-January 2013). ------------------------------------------------------------------------------------------------------------------------- Apollo D. Lupescu Vice President Since 2009 Vice President of all the DFA Entities. 1969 ------------------------------------------------------------------------------------------------------------------------- Peter Magnusson Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1969 Regional Director for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President at Columbia Management (2004-2010). ------------------------------------------------------------------------------------------------------------------------- Kenneth M. Manell Vice President Since 2010 Vice President of all the DFA Entities and 1972 Dimensional Cayman Commodity Fund I Ltd. Formerly, Counsel for Dimensional Fund Advisors LP (September 2006-January 2010). ------------------------------------------------------------------------------------------------------------------------- Aaron M. Marcus Vice President Since 2008 Vice President of all DFA Entities and Head of 1970 Global Human Resources for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- David R. Martin Vice President, Chief Since 2007 Vice President, Chief Financial Officer and Treasurer 1956 Financial Officer and of all the DFA Entities. Director, Vice President, Treasurer Chief Financial Officer and Treasurer of Dimensional Fund Advisors Ltd., DFA Australia Limited, Dimensional Advisors Pte. Ltd., Dimensional Hong Kong Limited, Dimensional Fund Advisors Canada ULC, and Dimensional Cayman Commodity Fund I Ltd. Director of Dimensional Funds plc and Dimensional Funds II plc. Statutory Auditor of Dimensional Japan Ltd. Formerly, Chief Financial Officer, Treasurer and Vice President of Dimensional SmartNest (US) LLC (October 2010-November 2014). ------------------------------------------------------------------------------------------------------------------------- Bryan R. McClune Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1975 Regional Director of Dimensional Fund Advisors LP (January 2009-January 2014). ------------------------------------------------------------------------------------------------------------------------- Philip P. McInnis Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1984 Regional Director (January 2009-January 2014) and Senior Associate (2011) for Dimensional Fund Advisors LP; Investment Consultant (March 2010- December 2010) and Investment Analyst (December 2007-March 2010) at Towers Watson. ------------------------------------------------------------------------------------------------------------------------- Jonathan G. Nelson Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Manager, Investment Systems (2011-January 2013) and Project Manager (2007-2010) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- 72 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ----------------------------------------------------------------------------------------------------------------------------- Catherine L. Newell Vice President and Vice President since 1997 Vice President and Secretary of all the DFA Entities. 1964 Secretary and Secretary since 2000 Director, Vice President and Secretary 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 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). Director of 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). Formerly, Vice President and Secretary of Dimensional SmartNest (US) LLC (October 2010- November 2014). ----------------------------------------------------------------------------------------------------------------------------- Pamela B. Noble Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1964 Portfolio Manager for Dimensional Fund Advisors LP (2008-2010). ----------------------------------------------------------------------------------------------------------------------------- Selwyn Notelovitz Vice President and Since 2013 Vice President of all the DFA Entities. Deputy Chief 1961 Deputy Chief Compliance Officer of Dimensional Fund Advisors Compliance Officer LP (since December 2012). Formerly, Chief Compliance Officer of Wellington Management Company, LLP (2004-2011). ----------------------------------------------------------------------------------------------------------------------------- Carolyn L. O Vice President Since 2010 Vice President of all the DFA Entities and 1974 Dimensional Cayman Commodity Fund I Ltd. Deputy General Counsel, Funds (since 2011). Formerly, Counsel for Dimensional Fund Advisors LP (2007- 2010). ----------------------------------------------------------------------------------------------------------------------------- Gerard K. O'Reilly Vice President and Co- Vice President since 2007 Vice President and Co-Chief Investment Officer of all 1976 Chief Investment and Co-Chief Investment the DFA Entities and Dimensional Fund Advisors Officer Officer since 2014 Canada ULC. Director of Dimensional Funds plc and Dimensional Fund II plc. ----------------------------------------------------------------------------------------------------------------------------- Daniel C. Ong Vice President Since 2009 Vice President of all the DFA Entities. Portfolio 1973 Manager for Dimensional Fund Advisors LP (since July 2005). ----------------------------------------------------------------------------------------------------------------------------- Kyle K. Ozaki Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1978 Senior Compliance Officer (January 2008-January 2010) and Compliance Officer (February 2006- December 2007) for Dimensional Fund Advisors LP. ----------------------------------------------------------------------------------------------------------------------------- Matthew A. Pawlak Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1977 Regional Director for Dimensional Fund Advisors LP (2012-January 2013); Senior Consultant (June 2011- December 2011) and Senior Investment Analyst and Consultant (July 2008-June 2011) at Hewitt EnnisKnupp. ----------------------------------------------------------------------------------------------------------------------------- David A. Plecha Vice President Since 1993 Vice President of all the DFA Entities, DFA Australia 1961 Limited, Dimensional Fund Advisors Ltd. and Dimensional Fund Advisors Canada ULC. ----------------------------------------------------------------------------------------------------------------------------- Allen Pu Vice President Since 2011 Vice President of all the DFA Entities. Portfolio 1970 Manager for Dimensional Fund Advisors LP (since 2006). ----------------------------------------------------------------------------------------------------------------------------- Theodore W. Randall Vice President Since 2008 Vice President of all the DFA Entities. Formerly, 1973 Research Associate for Dimensional Fund Advisors LP (2006 to 2008). ----------------------------------------------------------------------------------------------------------------------------- David J. Rapozo Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1967 Regional Director for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President at BlackRock (2009-2010). ----------------------------------------------------------------------------------------------------------------------------- Mark A. Regier Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1969 Planning and Analysis Manager for Dimensional Fund Advisors LP (July 2007-January 2014). ----------------------------------------------------------------------------------------------------------------------------- 73 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------ Savina B. Rizova Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1981 Research Associate (June 2011-January 2012) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ L. Jacobo Rodriguez Vice President Since 2005 Vice President of all the DFA Entities. 1971 ------------------------------------------------------------------------------------------------------------------ Oliver J. Rowe Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1960 Senior Manager, Human Resources for Dimensional Fund Advisors LP (January 2012-January 2014); Director of Human Resources at Spansion, Inc. (March 2009-December 2011). ------------------------------------------------------------------------------------------------------------------ Julie A. Saft Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1959 Client Systems Manager for Dimensional Fund Advisors LP (July 2008-January 2010); Senior Manager at Vanguard (November 1997-July 2008). ------------------------------------------------------------------------------------------------------------------ Walid A. Shinnawi Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1961 Regional Director for Dimensional Fund Advisors LP (March 2006-January 2010). ------------------------------------------------------------------------------------------------------------------ Bruce A. Simmons Vice President Since 2009 Vice President of all the DFA Entities. Formerly, 1965 Investment Operations Manager for Dimensional Fund Advisors LP (May 2007-January 2009). ------------------------------------------------------------------------------------------------------------------ Ted R. Simpson Vice President Since 2007 Vice President of all the DFA Entities. 1968 ------------------------------------------------------------------------------------------------------------------ Bhanu P. Singh Vice President Since 2014 Vice President of all the DFA Entities. Portfolio 1981 Manager for Dimensional Fund Advisors LP (since January 2012). Formerly, Investment Associate for Dimensional Fund Advisors LP (August 2010- December 2011). ------------------------------------------------------------------------------------------------------------------ Bryce D. Skaff Vice President Since 2007 Vice President of all the DFA Entities. 1975 ------------------------------------------------------------------------------------------------------------------ Lukas J. Smart Vice President Since 2014 Vice President of all the DFA Entities. Portfolio 1977 Manager of Dimensional Fund Advisors LP (since January 2010). ------------------------------------------------------------------------------------------------------------------ Andrew D. Smith Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1968 Project Manager for Dimensional Fund Advisors LP (2007-2010). ------------------------------------------------------------------------------------------------------------------ Grady M. Smith Vice President Since 2004 Vice President of all the DFA Entities and 1956 Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------ Carl G. Snyder Vice President Since 2000 Vice President of all the DFA Entities. 1963 ------------------------------------------------------------------------------------------------------------------ Lawrence R. Spieth Vice President Since 2004 Vice President of all the DFA Entities. 1947 ------------------------------------------------------------------------------------------------------------------ Richard H. Tatlow V Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (April 2010-January 2013). ------------------------------------------------------------------------------------------------------------------ Blake T. Tatsuta Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1973 Manager, Investment Analytics and Data (2012- January 2013) and Research Assistant (2002-2011) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ Erik T. Totten Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1980 Regional Director (2010-January 2013) and Senior Associate (2007-2009) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ John H. Totten Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1978 Regional Director for Dimensional Fund Advisors LP (January 2008-January 2012). ------------------------------------------------------------------------------------------------------------------ Robert C. Trotter Vice President Since 2009 Vice President of all the DFA Entities. 1958 ------------------------------------------------------------------------------------------------------------------ Karen E. Umland Vice President Since 1997 Vice President of all the DFA Entities, DFA Australia 1966 Limited, Dimensional Fund Advisors Ltd., and Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------ 74 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ---------------------------------------------------------------------------------------------------------------- Benjamin C. Walker Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1979 Regional Director for Dimensional Fund Advisors LP (September 2008-January 2014). ---------------------------------------------------------------------------------------------------------------- Brian J. Walsh Vice President Since 2009 Vice President of all the DFA Entities. Portfolio 1970 Manager for Dimensional Fund Advisors LP (since 2004). ---------------------------------------------------------------------------------------------------------------- Weston J. Wellington Vice President Since 1997 Vice President of all the DFA Entities. 1951 ---------------------------------------------------------------------------------------------------------------- Ryan J. Wiley Vice President Since 2007 Vice President of all the DFA Entities. 1976 ---------------------------------------------------------------------------------------------------------------- Paul E. Wise Vice President Since 2005 Vice President of all the DFA Entities. 1955 ---------------------------------------------------------------------------------------------------------------- Joseph L. Young Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1978 Regional Director for Dimensional Fund Advisors LP (2005-2010). ---------------------------------------------------------------------------------------------------------------- /1/ Each officer holds office for an indefinite term at the pleasure of the Board of Directors and until his or her successor is elected and qualified. 75 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://us.dimensional.com and reflects the twelve-month period beginning July 1st and ending June 30th. 76 NOTICE TO SHAREHOLDERS (Unaudited) For shareholders that do not have an October 31, 2014 tax year end, this notice is for informational purposes only. For shareholders with an October 31, 2014 tax year end, please consult your tax advisor as to the pertinence of this notice. For the fiscal year November 1, 2013 to October 31, 2014, 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.............. 29% -- 71% 100% 100% 100% -- LWAS/DFA Two-Year Fixed Income Portfolio.............. 62% 22% 16% 100% -- -- 33% LWAS/DFA Two-Year Government Portfolio.......... 27% 31% 42% 100% -- -- 100% DFA Investment Dimensions Group Inc. ------------------------------- LWAS/DFA International High Book to Market Portfolio...... 48% 2% 50% 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...... 2% 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. (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). 77 [LOGO] DFA103114-003A [LOGO] ANNUAL REPORT year ended: October 31, 2014 DFA Investment Dimensions Group Inc. 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 2014 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 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........................ 7 Schedules of Investments Dimensional Retirement Fixed Income Fund II......... 8 Dimensional Retirement Fixed Income Fund III........ 9 Statements of Assets and Liabilities.................... 10 Statements of Operations................................ 11 Statements of Changes in Net Assets..................... 12 Financial Highlights.................................... 13 Notes to Financial Statements........................... 14 Report of Independent Registered Public Accounting Firm. 20 Fund Management............................................ 21 Voting Proxies on Fund Portfolio Securities................ 32 Notice to Shareholders..................................... 33 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) 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. SEC Securities and Exchange Commission (a) Commencement of Operations. 1 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- DIMENSIONAL RETIREMENT FIXED INCOME FUND II VS. BARCLAYS U.S. TREASURY INFLATION PROTECTED SECURITIES (TIPS) INDEX (SERIES-L) May 16, 2012-October 31, 2014 [CHART] Dimensional Retirement Fixed Barclays U.S. Treasury Inflation Income Fund II Protected Securities (TIPS) Index (Series-L) ------------------------------------ ------------------ 5/16/12 10,000 10,000 5/31/12 10,070 10,117 6/30/12 10,015 10,061 7/31/12 10,166 10,252 8/31/12 10,146 10,222 9/30/12 10,217 10,274 10/31/12 10,287 10,363 11/30/12 10,328 10,413 12/31/12 10,262 10,345 1/31/13 10,190 10,275 2/28/13 10,201 10,278 3/31/13 10,221 10,307 4/30/13 10,303 10,389 5/31/13 9,864 9,936 6/30/13 9,449 9,580 7/31/13 9,531 9,650 8/31/13 9,357 9,510 9/30/13 9,553 9,648 10/31/13 9,574 9,701 11/30/13 9,512 9,595 12/31/13 9,339 9,455 1/31/14 9,544 9,641 2/28/14 9,575 9,685 3/31/14 9,503 9,639 4/30/14 9,627 9,769 5/31/14 9,833 9,976 6/30/14 9,859 10,006 7/31/14 9,849 10,008 8/31/14 9,901 10,052 Past performance is not predictive of 9/30/14 9,648 9,801 future performance. 10/31/14 9,731 9,885 The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Since would pay on fund distributions or the Total Return Year Inception redemption of fund shares. ----------------------------------------------------- Barclays Capital data provided by 1.64% -1.10% Barclays Bank PLC. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- DIMENSIONAL RETIREMENT FIXED INCOME FUND III VS. CITI U.S. INFLATION-LINKED SECURITIES INDEX, 20+ YEARS March 7, 2012-October 31, 2014 [CHART] Dimensional Retirement Fixed Citi U.S. Inflation-Linked Income Fund III Securities Index, 20+ Years -------------------------------- --------------------------- 3/07/12 10,000 10,000 3/31/12 9,770 9,821 4/30/12 10,310 10,266 5/31/12 10,890 10,921 6/30/12 10,751 10,847 7/31/12 11,403 11,424 8/31/12 11,152 11,175 9/30/12 11,092 11,148 10/31/12 11,423 11,432 11/30/12 11,464 11,528 12/31/12 11,239 11,314 1/31/13 10,847 10,952 2/28/13 10,817 10,947 3/31/13 10,666 10,809 4/30/13 11,159 11,318 5/31/13 9,842 10,024 6/30/13 9,044 9,391 7/31/13 9,014 9,290 8/31/13 8,659 9,022 9/30/13 8,881 9,195 10/31/13 8,963 9,258 11/30/13 8,545 8,887 12/31/13 8,309 8,696 1/31/14 8,963 9,275 2/28/14 8,983 9,321 3/31/14 9,075 9,416 4/30/14 9,423 9,747 5/31/14 9,893 10,169 6/30/14 9,981 10,258 7/31/14 10,097 10,411 8/31/14 10,432 10,698 Past performance is not predictive of 9/30/14 9,762 10,063 future performance. 10/31/14 10,059 10,362 The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Since would pay on fund distributions or the Total Return Year Inception redemption of fund shares. ------------------------------------------------------ Citigroup bond indices copyright 2014 12.22% 0.22% by Citigroup. -------------------------------------------------------------------------------- 2 DFA INVESTMENT DIMENSIONS GROUP INC. MANAGEMENT'S DISCUSSION AND ANALYSIS (Unaudited) Fixed Income Market Review 12 Months Ended October 31, 2014 U.S. and developed international fixed income markets generally experienced flattening yield curves for the year ended October 31, 2014. In the case of the U.S. and U.K., while longer-term bond yields declined, most shorter-term bond yields increased slightly. The Eurozone saw a sharp decline in bond yields across the curve with the largest declines in longer-term bonds. On average, investment grade credit did well for the year, outperforming government bonds of similar duration. The one-month U.S. Treasury bill yield edged even lower during the period, while the yield on ten-year U.S. Treasury notes decreased to 2.34%. October 31, 2013 October 31, 2014 Change ---------------- ---------------- ------ One-Month Treasury Bill (yield)...... 0.03% 0.00% -0.03% Ten-Year U.S. Treasury Notes (yield). 2.56% 2.34% -0.22% ---------- 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, 2014, total returns were 0.07 % for three-month U.S. Treasury bills, 1.18% for five-year U.S. Treasury notes, and 15.44% 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, credit spreads continued to narrow, and the portfolios employing the variable credit approach began to underweight the lower tier of investment grade credits. 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 generally purchases shares of 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, was unchanged at 8.42 years on October 31, 2014, from 8.42 years on October 31, 2013. For the 12 months ended October 31, 2014, total returns were 1.64% for the Fund and 1.90% for the Barclays U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L). The Fund's average allocation during the period was approximately 92% in the DFA Inflation-Protected Securities Portfolio, 7% in the DFA One-Year Fixed Income Portfolio, and 1% in the Dimensional Retirement Fixed Income Fund III. The Fund's underperformance was primarily due to structural differences with the Index. The Fund's limited exposure to TIPS in the 20- to 30-year maturity range, which outperformed short- and intermediate-term TIPS during this period, detracted from the relative performance of the Fund as compared to the Index. 3 Dimensional Retirement Fixed Income Fund III The Dimensional Retirement Fixed Income Fund III seeks to provide total return comprised of income and capital appreciation consistent with long-term inflation protection by 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 27.96 years on October 31, 2014, from 28.72 years on October 31, 2013. For the 12 months ended October 31, 2014, total returns were 12.22% for the Fund and 11.92% for the Citigroup U.S. Inflation-Linked Securities Index, 20+ Years. Throughout the period, the Fund's duration was longer than the duration of the Index as the Fund concentrated its investments in TIPS near 30 years in maturity. The Fund outperformed its benchmark as the long end of the real rate curve experienced a decrease in rates. 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, 2014 EXPENSE TABLES Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- Dimensional Retirement Fixed Income Fund II** --------------------------------------------- Actual Fund Return $1,000.00 $1,010.80 0.40% $2.03 Hypothetical 5% Annual Return $1,000.00 $1,023.19 0.40% $2.04 Dimensional Retirement Fixed Income Fund III -------------------------------------------- Actual Fund Return $1,000.00 $1,067.50 0.40% $2.08 Hypothetical 5% Annual Return $1,000.00 $1,023.19 0.40% $2.04 5 DISCLOSURE OF FUND EXPENSES CONTINUED ---------- * 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). 6 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 29, 2014. 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 Company ----------------------------- Dimensional Retirement Fixed Income Fund II. 100.0% FIXED INCOME PORTFOLIO Dimensional Retirement Fixed Income Fund III Government................................... 100.0% ----- 100.0% 7 DIMENSIONAL RETIREMENT FIXED INCOME FUND II SCHEDULE OF INVESTMENTS October 31, 2014 Shares Value+ ------ ---------- AFFILIATED INVESTMENT COMPANIES -- (100.0%) Investment in DFA Inflation-Protected Securities Portfolio of DFA Investment Dimensions Group Inc......................... 98,466 $1,156,981 Investment in DFA One-Year Fixed Income Portfolio of DFA Investment Dimensions Group Inc......................... 8,595 88,698 Investment in Dimensional Retirement Fixed Income Fund III of DFA Investment Dimensions Group Inc......................... 3,311 31,451 ---------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANIES (Cost $1,273,890)........................................ 1,277,130 ---------- TOTAL INVESTMENTS -- (100.0%) (Cost $1,273,890)........................................ $1,277,130 ========== Summary of the Fund's investments as of October 31, 2014, 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. $1,277,130 -- -- $1,277,130 ---------- -- -- ---------- TOTAL........................... $1,277,130 -- -- $1,277,130 ========== == == ========== See accompanying Notes to Financial Statements. 8 DIMENSIONAL RETIREMENT FIXED INCOME FUND III SCHEDULE OF INVESTMENTS October 31, 2014 Face Amount^^^ Value+ --------- -------- (000) U.S. TREASURY OBLIGATIONS -- (100.0%) Treasury Inflation Protected Security 0.750%, 02/15/42.................... $271 $269,096 0.625%, 02/15/43.................... 744 701,548 -------- TOTAL U.S. TREASURY OBLIGATIONS....... 970,644 -------- TOTAL INVESTMENTS -- (100.0%) (Cost $888,862)...................... $970,644 ======== Summary of the Fund's investments as of October 31, 2014, 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.......... -- $970,644 -- $970,644 -- -------- -- -------- TOTAL.............................. -- $970,644 -- $970,644 == ======== == ======== See accompanying Notes to Financial Statements. 9 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2014 (Amounts in thousands, except share and per share amounts) Dimensional Dimensional Retirement Retirement Fixed Income Fixed Income Fund II Fund III - ------------ ------------ ASSETS: Investments in Affiliated Investment Companies at Value................................ $ 1,277 -- Investments at Value................................................................... -- $ 971 Cash................................................................................... -- 5 Receivables: Investment Securities Sold........................................................... 75 -- Interest............................................................................. -- 1 From Advisor......................................................................... 13 15 Prepaid Expenses and Other Assets...................................................... 4 4 ------------ ------------ Total Assets...................................................................... 1,369 996 ------------ ------------ LIABILITIES: Payables: Line of Credit....................................................................... 71 -- Accrued Expenses and Other Liabilities................................................. 1 1 ------------ ------------ Total Liabilities................................................................. 72 1 ------------ ------------ NET ASSETS............................................................................. $ 1,297 $ 995 ============ ============ SHARES OUTSTANDING, $0.01 PAR VALUE (1)................................................ 139,588 104,649 ============ ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE............................... $ 9.30 $ 9.50 ============ ============ Investments in Affiliated Investment Companies at Cost................................. $ 1,274 $ -- ------------ ------------ Investments at Cost.................................................................... $ -- $ 889 ============ ============ NET ASSETS CONSIST OF: Paid-In Capital........................................................................ $ 1,341 $ 1,414 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income). (1) (1) Accumulated Net Realized Gain (Loss)................................................... (46) (500) Net Unrealized Appreciation (Depreciation)............................................. 3 82 ------------ ------------ NET ASSETS............................................................................. $ 1,297 $ 995 ============ ============ (1) NUMBER OF SHARES AUTHORIZED........................................................ 100,000,000 100,000,000 ============ ============ See accompanying Notes to Financial Statements. 10 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2014 (Amounts in thousands) Dimensional Dimensional Retirement Retirement Fixed Income Fixed Income Fund II Fund III - ------------ ------------ Investment Income Net Investment Income Allocated from Affiliated Investment Companies: Income Distributions............................................................ $ 30 -- ---- ----- Total Net Investment Income Received from Affiliated Investment Companies...... 30 -- ---- ----- Fund Investment Income Interest.......................................................................... -- $ 39 ---- ----- Total Fund Investment Income................................................... -- 39 ---- ----- Fund Expenses Investment Advisory Services Fees................................................. 4 4 Accounting & Transfer Agent Fees.................................................. 33 4 Custodian Fees.................................................................... 1 1 Filing Fees....................................................................... 18 18 Shareholders' Reports............................................................. 7 9 Audit Fees........................................................................ 6 1 Legal Fees........................................................................ 10 15 Other............................................................................. 1 1 ---- ----- Total Expenses................................................................. 80 53 ---- ----- Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor (Note C)................................................................. (75) (47) ---- ----- Net Expenses...................................................................... 5 6 ---- ----- Net Investment Income (Loss)...................................................... 25 33 ---- ----- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Affiliated Investment Companies Shares/Investment Securities Sold............... (25) (196) Change in Unrealized Appreciation (Depreciation) of: Affiliated Investment Companies Shares/Investment Securities.................... 5 350 ---- ----- Net Realized and Unrealized Gain (Loss)........................................... (20) 154 ---- ----- Net Increase (Decrease) in Net Assets Resulting from Operations..................... $ 5 $ 187 ==== ===== See accompanying Notes to Financial Statements. 11 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (Amounts in thousands) Dimensional Retirement Dimensional Retirement Fixed Income Fund II Fixed Income Fund III --------------------- --------------------- Year Year Year Year Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2014 2013 -------- -------- -------- -------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)...................................... $ 25 $ 5 $ 33 $ 31 Capital Gain Distributions Received from Affiliated Investment Companies........................................................ -- 1 -- -- Net Realized Gain (Loss) on: Affiliated Investment Companies Shares/Investment Securities Sold........................................................... (25) (22) (196) (304) Change in Unrealized Appreciation (Depreciation) of: Affiliated Investment Companies Shares/Investment Securities.... 5 (2) 350 (305) ------- ------ ------- ------- Net Increase (Decrease) in Net Assets Resulting from Operations.................................................... 5 (18) 187 (578) ------- ------ ------- ------- Distributions From: Net Investment Income............................................. (27) (5) (38) (29) ------- ------ ------- ------- Total Distributions............................................ (27) (5) (38) (29) ------- ------ ------- ------- Capital Share Transactions (1): Shares Issued..................................................... 1,754 2,119 1,937 3,807 Shares Issued in Lieu of Cash Distributions....................... 27 5 38 29 Shares Redeemed................................................... (2,200) (369) (2,504) (2,343) ------- ------ ------- ------- Net Increase (Decrease) from Capital Share Transactions........ (419) 1,755 (529) 1,493 ------- ------ ------- ------- Total Increase (Decrease) in Net Assets........................ (441) 1,732 (380) 886 Net Assets Beginning of Year................................................. 1,738 6 1,375 489 ------- ------ ------- ------- End of Year....................................................... $ 1,297 $1,738 $ 995 $ 1,375 ======= ====== ======= ======= (1) Shares Issued and Redeemed: Shares Issued..................................................... 188 223 223 361 Shares Issued in Lieu of Cash Distributions....................... 3 1 4 3 Shares Redeemed................................................... (237) (39) (278) (251) ------- ------ ------- ------- Net Increase (Decrease) from Shares Issued and Redeemed........ (46) 185 (51) 113 ======= ====== ======= ======= Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)................................................. $ (1) $ -- $ (1) $ 4 See accompanying Notes to Financial Statements. 12 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (for a share outstanding throughout each period) Dimensional Retirement Fixed Income Fund II --------------------------------- Period Year Year May 16, Ended Ended 2012(a) Oct. 31, Oct. 31, to Oct. 31, 2014 2013 2012 ----------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period.............. $ 9.32 $10.18 $ 10.00 ------ ------ ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................. 0.17 0.13 0.23 Net Gains (Losses) on Securities (Realized and Unrealized).................................... (0.02) (0.83) 0.06 ------ ------ ------- Total from Investment Operations............... 0.15 (0.70) 0.29 ----------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income............................ (0.17) (0.16) (0.11) Net Realized Gains............................... -- -- -- ------ ------ ------- Total Distributions............................ (0.17) (0.16) (0.11) ----------------------------------------------------------------------------------------------- Net Asset Value, End of Period.................... $ 9.30 $ 9.32 $ 10.18 ================================================= ======== ======== =========== Total Return...................................... 1.64% (6.94)% 2.87%(D) ----------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)............. $1,297 $1,738 $ 6 Ratio of Expenses to Average Net Assets........... 0.40%(B) 0.40%(B) 0.40%(B)(C)(E) Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor)......................................... 5.76%(B) 17.48%(B) 447.64%(B)(C)(E) Ratio of Net Investment Income to Average Net Assets........................................... 1.86% 1.40% 5.07%(C)(E) Portfolio Turnover Rate........................... N/A N/A N/A ----------------------------------------------------------------------------------------------- Dimensional Retirement Fixed Income Fund III ----------------------------------- Period Year Year March 7, Ended Ended 2012(a) Oct. 31, Oct. 31, to Oct. 31, 2014 2013 2012 ----------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period.............. $ 8.80 $ 11.38 $10.00 ------ ------- ------ Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................. 0.20 0.15 0.12 Net Gains (Losses) on Securities (Realized and Unrealized).................................... 0.86 (2.60) 1.30 ------ ------- ------ Total from Investment Operations............... 1.06 (2.45) 1.42 ----------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income............................ (0.36) (0.13) (0.04) Net Realized Gains............................... -- -- -- ------ ------- ------ Total Distributions............................ (0.36) (0.13) (0.04) ----------------------------------------------------------------------------------------------- Net Asset Value, End of Period.................... $ 9.50 $ 8.80 $11.38 ================================================= ============ =========== ============== Total Return...................................... 12.22% (21.54)% 14.23%(D) ----------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)............. $ 995 $ 1,375 $ 489 Ratio of Expenses to Average Net Assets........... 0.40% 0.40% 0.40%(C)(E) Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor)......................................... 3.63% 2.90% 29.65%(C)(E) Ratio of Net Investment Income to Average Net Assets........................................... 2.29% 1.50% 1.68%(C)(E) Portfolio Turnover Rate........................... 105% 120% 11%(D) ----------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 13 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-seven operational portfolios, two of which, 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 Fixed Income Fund II is designed to achieve its investment objective by primarily investing in other portfolios within IDG (the "Master Funds"). The Portfolio also invests in short-term temporary cash investments. Ownership Fund of Funds Master Funds at 10/31/14 ------------- ------------ ----------- 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) 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"). 14 Shares held by the 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. 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, 2014, there were no significant transfers between Level 1 and Level 2 and no significant 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, 2014, 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. 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, 2014, 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 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, 2015, and may only be terminated by the Fund's Board of Directors prior to that date. The Fee Waiver Agreement shall continue in effect from year to year thereafter unless terminated by the Fund or the Advisor. 15 With respect to Dimensional Retirement Fixed Income Fund II, 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 the Master Funds (including the 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 assume the expenses of a class of the 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 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, 2014, the total related amounts paid by the Fund to the CCO were $262 (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, 2014, 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 Fixed Income Fund II.. -- Dimensional Retirement Fixed Income Fund III. -- E. Purchases and Sales of Securities: For the year ended October 31, 2014, Dimensional Retirement Fixed Income Fund II made the following purchases and sales of Affiliated Investment Companies (amounts in thousands): Dimensional Retirement Fixed Income Fund II ---------------------------------------------------------------- Balance at Balance at Dividend Distributions of Affiliated Investment Companies 10/31/2013 10/31/2014 Purchases Sales Income Realized Gains ------------------------------- ---------- ---------- --------- ------ -------- ---------------- DFA Inflation-Protected Securities Portfolio. $1,583 $1,157 $1,535 $1,942 $28 -- DFA One-Year Fixed Income Portfolio.......... 125 89 150 185 1 -- Dimensional Retirement Fixed Income Fund III. 41 31 47 56 1 -- ------ ------ ------ ------ --- -- Total........................................ $1,749 $1,277 $1,732 $2,183 $30 -- ====== ====== ====== ====== === == For the year ended October 31, 2014, 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 Securities Other Investment Securities -------------------------- --------------------------- Purchases Sales Purchases Sales --------- ------ --------- ----- Dimensional Retirement Fixed Income Fund III. $1,475 $2,045 -- -- 16 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 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 difference as of October 31, 2014, primarily attributable to return of capital distribution, was 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 Fixed Income Fund II.. $(1) $ 1 -- Dimensional Retirement Fixed Income Fund III. -- -- -- The tax character of dividends and distributions declared and paid during the years ended October 31, 2013 and October 31, 2014 were as follows (amounts in thousands): Net Investment Income and Short-Term Long-Term Capital Gains Capital Gains Total -------------- ------------- ----- Dimensional Retirement Fixed Income Fund II 2013......................................... $ 5 -- $ 5 2014......................................... 27 -- 27 Dimensional Retirement Fixed Income Fund III 2013......................................... 29 -- 29 2014......................................... 38 -- 38 At October 31, 2014, 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 Carryforward (Depreciation) Losses) -------------- ------------- ------------ -------------- ------------- Dimensional Retirement Fixed Income Fund II........................... -- -- $ (3) $(40) $ (43) Dimensional Retirement Fixed Income Fund III.......................... -- -- (466) 46 (420) 17 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 either short-term or long-term capital losses. As of October 31, 2014, the Retirement Funds 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, ---------------------- Unlimited Total ---------------------- ----- Dimensional Retirement Fixed Income Fund II.. $ 3 $ 3 Dimensional Retirement Fixed Income Fund III. 466 466 During the year ended October 31, 2014, the Retirement Funds did not utilize capital loss carryforwards. At October 31, 2014, 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, as follows (amounts in thousands): Net Unrealized Federal Tax Unrealized Unrealized Appreciation Cost Appreciation Depreciation (Depreciation) ----------- ------------ ------------ -------------- Dimensional Retirement Fixed Income Fund II.. $1,318 -- $(41) $(41) Dimensional Retirement Fixed Income Fund III. 925 $46 -- 46 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 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 three fiscal years remain subject to examination by the Internal Revenue Service. G. 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 agreement for the line of credit expires on March 2, 2015. The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit 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 line of credit agreement expires on January 9, 2015. 18 For the year ended October 31, 2014, 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 Days Expense Borrowed During Interest Rate Loan Balance Outstanding* Incurred the Period ------------- ------------ ------------ -------- --------------- Dimensional Retirement Fixed Income Fund II........................... 0.85% $51 35 -- $514 * Number of Days Outstanding represents the total of single or consecutive days during the year ended October 31, 2014, that each Retirement Fund's available line of credit was utilized. At October 31, 2014, Dimensional Retirement Fixed Income Fund II had loans outstanding in the amount of $71 (in thousands). 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. Other: At October 31, 2014, 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 Fixed Income Fund II.. 2 99% Dimensional Retirement Fixed Income Fund III. 2 96% J. 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. 19 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors of DFA Investment Dimensions Group Inc. and Shareholders of the Portfolios, as defined: 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 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, 2014, 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, 2014 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 19, 2014 20 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 Strategy Committee (the "Strategy 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, 2014. 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, 2014. Each Board's Strategy Committee consists of both interested and disinterested Trustees/Directors. The Strategy Committee is comprised of John P. Gould, Edward P. Lazear, Myron S. Scholes and Eduardo A. Repetto. The Strategy 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 Strategy 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 Strategy Committee was formed on December 17, 2010, and there were two Strategy Committee meetings held during the fiscal year ended October 31, 2014. 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. 21 Name, Position Portfolios within the DFA Principal Occupation(s) During Past 5 with the Fund, Address and Term of Office/1/ and Fund Complex/2/ Years and Other Directorships of Public Year of Birth Length of Service Overseen Companies Held ------------------------------------------------------------------------------------------------------------------------ Disinterested Trustees/Directors ------------------------------------------------------------------------------------------------------------------------ George M. Constantinides DFAIDG-Since 1983 108 portfolios in 4 Leo Melamed Professor of Finance, Director of DFAIDG and DIG. DIG-Since 1993 investment companies University of Chicago Booth School of Trustee of DFAITC and DEM. DFAITC-Since 1992 Business. The University of Chicago DEM-Since 1993 Booth School of Business 5807 S. Woodlawn Avenue Chicago, IL 60637 1947 ------------------------------------------------------------------------------------------------------------------------ John P. Gould DFAIDG-Since 1986 108 portfolios in 4 Steven G. Rothmeier Professor and Director of DFAIDG and DIG. DIG-Since 1993 investment companies Distinguished Service Professor of Trustee of DFAITC and DEM DFAITC-Since 1992 Economics, University of Chicago Booth The University of Chicago DEM-Since 1993 School of Business (since 1965). Member Booth School of Business and Chair, Competitive Markets Advisory 5807 S. Woodlawn Avenue Council, Chicago Mercantile Exchange Chicago, IL 60637 (futures trading exchange) (since 1939 2004). Trustee, Harbor Fund (registered investment company) (29 Portfolios) (since 1994). Formerly, Member of the Board of Milwaukee Insurance Company (1997-2010). ------------------------------------------------------------------------------------------------------------------------ Roger G. Ibbotson DFAIDG-Since 1981 108 portfolios in 4 Professor in Practice of Finance, Yale Director of DFAIDG and DIG. DIG-Since 1993 investment companies School of Management (since 1984). Trustee of DFAITC and DEM. DFAITC-Since 1992 Chairman, CIO and Partner, Zebra Yale School of Management DEM-Since 1993 Capital Management, LLC (hedge fund and P.O. Box 208200 asset manager) (since 2001). Consultant New Haven, CT 06520-8200 to Morningstar Inc. (since 2006). 1943 Formerly, Director, BIRR Portfolio Analysis, Inc. (software products) (1990-2010). ------------------------------------------------------------------------------------------------------------------------ Edward P. Lazear DFAIDG-Since 2010 108 portfolios in 4 Morris Arnold Cox Senior Fellow, Hoover Director of DFAIDG and DIG. DIG-Since 2010 investment companies Institution (since 2002). Jack Steele Trustee of DFAITC and DEM. DFAITC-Since 2010 Parker Professor of Human Resources Stanford University Graduate DEM-Since 2010 Management and Economics, Graduate School of Business School of Business, Stanford University 518 Memorial Way (since 1995). Cornerstone Research Stanford, CA 94305-5015 (expert testimony and economic and 1948 financial analysis) (since 2009). Formerly, 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 DFAIDG-Since 1981 108 portfolios in 4 Chief Investment Strategist, Janus Director of DFAIDG and DIG. DIG-Since 1993 investment companies Capital Group Inc. (since 2014). Frank Trustee of DFAITC and DEM. DFAITC-Since 1992 E. Buck Professor of Finance Emeritus, c/o Dimensional Fund DEM-Since 1993 Graduate School of Business, Stanford Advisors, LP University (since 1981). Chairman, 6300 Bee Cave Road Ruapay Inc. (since 2013). Formerly, Building 1 Chairman, Platinum Grove Asset Austin, TX 78746 Management, L.P. (hedge fund) 1941 (formerly, Oak Hill Platinum Partners) (1999-2009). Formerly, Director, American Century Fund Complex (registered investment companies) (43 Portfolios) (1980-2014). ------------------------------------------------------------------------------------------------------------------------ Abbie J. Smith DFAIDG-Since 2000 108 portfolios in 4 Boris and Irene Stern Distinguished Director of DFAIDG and DIG. DIG-Since 2000 investment companies Service Professor of Accounting, Trustee of DFAITC and DEM. DFAITC-Since 2000 University of Chicago Booth School of The University of Chicago DEM-Since 2000 Business (since 1980). Director, HNI Booth School of Business Corporation (formerly known as HON 5807 S. Woodlawn Industries Inc.) (office furniture) Avenue Chicago, IL 60637 (since 2000). Director, Ryder System 1953 Inc. (transportation, logistics and supply-chain management) (since 2003). Trustee, UBS Funds (4 investment companies within the fund complex) (33 portfolios) (since 2009). Formerly, Co-Director Investment Research, Fundamental Investment Advisors (hedge fund) (2008-2011). ------------------------------------------------------------------------------------------------------------------------ 22 Name, Position Portfolios within the with the Fund, Address Term of Office/1/ and DFA Fund Complex/2/ Principal Occupation(s) During Past 5 Years and and Year of Birth Length of Service Overseen Other Directorships of Public Companies Held -------------------------------------------------------------------------------------------------------------------------------- Interested Trustees/Directors* -------------------------------------------------------------------------------------------------------------------------------- David G. Booth DFAIDG-Since 1981 108 portfolios in 4 Chairman, Director/Trustee, President, Co-Chief Chairman, Director/Trustee, DIG-Since 1992 investment companies Executive Officer and formerly, Chief Executive President and Co-Chief DFAITC-Since 1992 Officer (until 1/1/2010) of the following companies: Executive Officer DEM-Since 1993 Dimensional Holdings Inc., Dimensional Fund 6300 Bee Cave Road, Advisors LP, DFA Securities LLC, DEM, DFAIDG, Building One DIG and DFAITC (collectively, the "DFA Entities"). Austin, TX 78746 Director of Dimensional Fund Advisors Ltd. and 1946 formerly, Chief Investment Officer. Director of DFA Australia Limited and formerly, President and Chief Investment Officer. Director of Dimensional Advisors Ltd., Dimensional Funds plc and Dimensional Funds II plc. Formerly, President, Dimensional SmartNest (US) LLC (2009-2014). Formerly, Limited Partner, Oak Hill Partners (2001- 2010). Limited Partner, VSC Investors, LLC (since 2007). Trustee, University of Chicago. Trustee, University of Kansas Endowment Association. Formerly, Director, SA Funds (registered investment company). Chairman, Director and Co- Chief Executive Officer of Dimensional Fund Advisors Canada ULC. Director and President (since 2012) of Dimensional Japan Ltd. Chairman, Director, President and Co-Chief Executive Officer of Dimensional Cayman Commodity Fund I Ltd. (since 2010). -------------------------------------------------------------------------------------------------------------------------------- Eduardo A. Repetto DFAIDG-Since 2009 108 portfolios in 4 Co-Chief Executive Officer (beginning January Director/Trustee, Co-Chief DIG-Since 2009 investment companies 2010), Co-Chief Investment Officer (since June Executive Officer and Co- DFAITC-Since 2009 2014), Director/Trustee, and formerly, Chief Chief Investment Officer DEM-Since 2009 Investment Officer (March 2007 - June 2014) of the 6300 Bee Cave Road, DFA Entities. Director, Co-Chief Executive Officer Building One and Chief Investment Officer (since 2010) of Austin, TX 78746 Dimensional Cayman Commodity Fund I Ltd. 1967 Director, Co-Chief Executive Officer, President and Co-Chief Investment Officer of Dimensional Fund Advisors Canada ULC and formerly, Chief Investment Officer (until April 2014). Co-Chief Investment Officer, Vice President, and Director of DFA Australia Limited and formerly, Chief Investment Officer (until April 2014). Director of Dimensional Fund Advisors Ltd., Dimensional Funds plc, Dimensional Funds II plc and Dimensional Advisors Ltd. Formerly, Vice President of the DFA Entities and Dimensional Fund Advisors Canada ULC. Director and Chief Investment Officer (since December 2012) of Dimensional Japan Ltd. /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 DFAIDG, DIG; DFAITC and DEM. Each disinterested Trustee/Director also serves on the Independent Review Committee of the Dimensional Funds, mutual funds registered in the provinces of Canada and managed by an affiliate of Dimensional Fund Advisors LP (the "Advisor"), Dimensional Fund Advisors Canada ULC. * 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 the Advisor. 23 Officers Below is the name, year of birth, information regarding positions with the Funds and the principal occupation for each officer of the Funds. The address of each officer is 6300 Bee Cave Road, Building One, Austin, TX 78746. Each of the officers listed below holds the same office (except as otherwise noted) in the DFA Entities. Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation(s) During Past 5 Years ---------------------------------------------------------------------------------------------------------------------- Officers ---------------------------------------------------------------------------------------------------------------------- April A. Aandal Vice President Since 2008 Vice President of all the DFA Entities. 1963 ---------------------------------------------------------------------------------------------------------------------- Robyn G. Alcorta Vice President Since 2012 Vice President of all the DFA Entities. Formerly, Vice 1974 President, Business Development at Capson Physicians Insurance Company (2010-2012); Vice President at Charles Schwab (2007-2010). ---------------------------------------------------------------------------------------------------------------------- Darryl D. Avery Vice President Since 2005 Vice President of all the DFA Entities. 1966 ---------------------------------------------------------------------------------------------------------------------- Arthur H. Barlow Vice President Since 1993 Vice President of all the DFA Entities. Director and 1955 Managing Director of Dimensional Fund Advisors Ltd (since September 2013). ---------------------------------------------------------------------------------------------------------------------- Peter Bergan Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Senior Infrastructure Manager for Dimensional Fund Advisors LP (January 2011-January 2014); Partner at Stonehouse Consulting (2010). ---------------------------------------------------------------------------------------------------------------------- Lana Bergstein Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Client Service Manager for Dimensional Fund Advisors LP (February 2008-January 2014). ---------------------------------------------------------------------------------------------------------------------- Stanley W. Black Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1970 Senior Research Associate (January 2012-January 2014) and Research Associate (2006-2011) for Dimensional Fund Advisors LP ---------------------------------------------------------------------------------------------------------------------- Aaron T. Borders Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1973 Regional Director for Dimensional Fund Advisors LP (April 2008-January 2014). ---------------------------------------------------------------------------------------------------------------------- Scott A. Bosworth Vice President Since 2007 Vice President of all the DFA Entities. 1968 ---------------------------------------------------------------------------------------------------------------------- Valerie A. Brown Vice President and Since 2001 Vice President and Assistant Secretary of all the 1967 Assistant Secretary DFA Entities, DFA Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Cayman Commodity Fund I Ltd., Dimensional Fund Advisors Pte. and Dimensional Hong Kong Limited. Director, Vice President and Assistant Secretary of Dimensional Fund Advisors Canada ULC. ---------------------------------------------------------------------------------------------------------------------- David P. Butler Vice President Since 2007 Vice President of all the DFA Entities. Head of 1964 Global Financial Services for Dimensional Fund Advisors LP (since 2008). ---------------------------------------------------------------------------------------------------------------------- Douglas M. Byrkit Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1970 Regional Director for Dimensional Fund Advisors LP (December 2010-January 2012); Regional Director at Russell Investments (April 2006-December 2010). ---------------------------------------------------------------------------------------------------------------------- Hunt M. Cairns Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1973 Regional Director (January 2010-January 2014) and Senior Associate (July 2008-December 2009) for Dimensional Fund Advisors LP. ---------------------------------------------------------------------------------------------------------------------- James G. Charles Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1956 Regional Director for Dimensional Fund Advisors LP (2008-2010). ---------------------------------------------------------------------------------------------------------------------- 24 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------------- Joseph H. Chi Vice President Since 2009 Vice President of all the DFA Entities. Co-Head of 1966 Portfolio Management (since March 2012) and Senior Portfolio Manager (since January 2012) for Dimensional Fund Advisors LP. Formerly, Portfolio Manager for Dimensional Fund Advisors LP (October 2005 to January 2012). ------------------------------------------------------------------------------------------------------------------------- Pil Sun Choi Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1972 Counsel for Dimensional Fund Advisors LP (April 2012 - January 2014); Vice President and Counsel for AllianceBernstein L.P. (2006-2012). ------------------------------------------------------------------------------------------------------------------------- Stephen A. Clark Vice President Since 2004 Vice President of all the DFA Entities, DFA Australia 1972 Limited and Dimensional Fund Advisors Canada ULC. Head of Global Institutional Services for Dimensional Fund Advisors LP (since January 2014). Formerly, Head of Institutional, North America (March 2012 to December 2013) and Head of Portfolio Management (January 2006 to March 2012) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- Matt B. Cobb Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (September 2011-March 2013); Vice President at MullinTBG (2005-2011). ------------------------------------------------------------------------------------------------------------------------- Rose C. Cooke Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (August 2010-March 2014); Vice President, Sales and Business Development at AdvisorsIG (PPMG) (2009-2010); Vice President at Credit Suisse (2007- 2009). ------------------------------------------------------------------------------------------------------------------------- Ryan Cooper Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1979 Regional Director for Dimensional Fund Advisors LP (2003-March 2014). ------------------------------------------------------------------------------------------------------------------------- Jeffrey D. Cornell Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1976 Regional Director for Dimensional Fund Advisors LP (August 2002-January 2012). ------------------------------------------------------------------------------------------------------------------------- Robert P. Cornell Vice President Since 2007 Vice President of all the DFA Entities. 1949 ------------------------------------------------------------------------------------------------------------------------- George H. Crane Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1955 Senior Vice President and Managing Director at State Street Bank & Trust Company (2007-2008). ------------------------------------------------------------------------------------------------------------------------- Christopher S. Crossan Vice President and Since 2004 Vice President and Chief Compliance Officer of all 1965 Global Chief the DFA Entities, DFA Australia Limited, and Compliance Officer Dimensional Fund Advisors Ltd. Chief Compliance Officer of Dimensional Fund Advisors Canada. Formerly, Vice President and Chief Compliance Officer for Dimensional SmartNest (US) LLC (October 2010- 2014). ------------------------------------------------------------------------------------------------------------------------- James L. Davis Vice President Since 1999 Vice President of all the DFA Entities. 1956 ------------------------------------------------------------------------------------------------------------------------- Robert T. Deere Vice President Since 1994 Vice President of all the DFA Entities, DFA Australia 1957 Limited and Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------------- Johnathon K. DeKinder Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1979 Regional Director (January 2012-January 2014) and Senior Associate (August 2010-December 2011) for Dimensional Fund Advisors LP; MBA and MPA at the University of Texas at Austin (August 2007-May 2010). ------------------------------------------------------------------------------------------------------------------------- Peter F. Dillard Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1972 Research Associate (August 2008-March 2010) and Research Assistant (April 2006-August 2008) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- 25 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ----------------------------------------------------------------------------------------------------------------------- Robert W. Dintzner Vice President Since 2001 Vice President of all the DFA Entities. 1970 ----------------------------------------------------------------------------------------------------------------------- Karen M. Dolan Vice President Since 2014 Vice President of all the DFA Entities. Head of 1979 Marketing for Dimensional Fund Advisors LP (since February 2013). Formerly, Senior Manager of Research and Marketing for Dimensional Fund Advisors LP (June 2012-January 2013); Director of Mutual Fund Analysis at Morningstar (January 2008- May 2012). ----------------------------------------------------------------------------------------------------------------------- Richard A. Eustice Vice President and Since 1998 Vice President and Assistant Secretary of all the 1965 Assistant Secretary DFA Entities and DFA Australia Limited. Chief Operating Officer for Dimensional Fund Advisors Pte. Ltd. (since April 2013). Formerly, Chief Operating Officer for Dimensional Fund Advisors Ltd. (July 2008-March 2013). ----------------------------------------------------------------------------------------------------------------------- Gretchen A. Flicker Vice President Since 2004 Vice President of all the DFA Entities. 1971 ----------------------------------------------------------------------------------------------------------------------- Jed S. Fogdall Vice President Since 2008 Vice President of all the DFA Entities. Co-Head of 1974 Portfolio Management (since March 2012) and Senior Portfolio Manager (since January 2012) for Dimensional Fund Advisors LP. Formerly, Portfolio Manager for Dimensional Fund Advisors LP (September 2004-January 2012). ----------------------------------------------------------------------------------------------------------------------- Edward A. Foley Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1976 Regional Director for Dimensional Fund Advisors LP (August 2011-January 2014); Senior Vice President of First Trust Advisors L.P. (2007-July 2011). ----------------------------------------------------------------------------------------------------------------------- Jeremy P. Freeman Vice President Since 2009 Vice President of all the DFA Entities. 1970 ----------------------------------------------------------------------------------------------------------------------- Mark R. Gochnour Vice President Since 2007 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Tom M. Goodrum Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1968 Managing Director at BlackRock (2004-January 2012). ----------------------------------------------------------------------------------------------------------------------- Henry F. Gray Vice President Since 2000 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- John T. Gray Vice President Since 2007 Vice President of all the DFA Entities. 1974 ----------------------------------------------------------------------------------------------------------------------- Christian Gunther Vice President Since 2011 Vice President of all the DFA Entities. Senior Trader 1975 for Dimensional Fund Advisors LP (since 2012). Formerly, Senior Trader (2009-2012). ----------------------------------------------------------------------------------------------------------------------- Robert W. Hawkins Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Counsel for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President and Senior Counsel for State Street Global Advisors (November 2008-January 2011). ----------------------------------------------------------------------------------------------------------------------- Joel H. Hefner Vice President Since 2007 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Julie C. Henderson Vice President and Since 2005 Vice President and Fund Controller of all the DFA 1974 Fund Controller Entities, Dimensional Cayman Commodity Fund I Ltd. and Dimensional Japan Ltd. ----------------------------------------------------------------------------------------------------------------------- Kevin B. Hight Vice President Since 2005 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Christine W. Ho Vice President Since 2004 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Michael C. Horvath Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1960 Managing Director, Co-Head Global Consultant Relations at BlackRock (2004-2011). ----------------------------------------------------------------------------------------------------------------------- 26 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years --------------------------------------------------------------------------------------------------------------------------- Jeff J. Jeon Vice President Since 2004 Vice President of all the DFA Entities and 1973 Dimensional Cayman Commodity Fund I Ltd. --------------------------------------------------------------------------------------------------------------------------- Garret D. Jones Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1971 Manager of Sales and Marketing Systems (January 2011-January 2014) and Project Manager (2007- 2010) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Stephen W. Jones Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1968 Facilities Manager for Dimensional Fund Advisors LP (October 2008-January 2012). --------------------------------------------------------------------------------------------------------------------------- David M. Kavanaugh Vice President Since 2014 Vice President of all the DFA Entities. Head of 1978 Operations for Financial Advisor Services for Dimensional Fund Advisors LP (since July 2014). Formerly, Counsel of Dimensional Fund Advisors LP (August 2011-January 2014); Associate at Andrews Kurth LLP (2006-2011). --------------------------------------------------------------------------------------------------------------------------- Patrick M. Keating Vice President and Since 2003 Vice President of all the DFA Entities, Dimensional 1954 Chief Operating Officer Cayman Commodity Fund I Ltd., Dimensional Japan Ltd. and Dimensional Advisors Ltd. Chief Operating Officer of Dimensional Holdings Inc., DFA Securities LLC, Dimensional Fund Advisors LP, Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan Ltd., Dimensional Advisors Ltd. And Dimensional Fund Advisors Pte. Ltd. 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 Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1977 Regional Director for Dimensional Fund Advisors LP (October 2004-January 2013). --------------------------------------------------------------------------------------------------------------------------- Glenn E. Kemp Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1948 Regional Director for Dimensional Fund Advisors LP (April 2006-January 2012). --------------------------------------------------------------------------------------------------------------------------- David M. Kershner Vice President Since 2010 Vice President of all the DFA Entities. Portfolio 1971 Manager for Dimensional Fund Advisors LP (since June 2004). --------------------------------------------------------------------------------------------------------------------------- Kimberly L. Kiser Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1972 Creative Director for Dimensional Fund Advisors LP (September 2012-January 2014); Vice President and Global Creative Director at Morgan Stanley (2007-2012); Visiting Assistant Professor, Graduate Communications Design at Pratt Institute (2004-2012). --------------------------------------------------------------------------------------------------------------------------- Timothy R. Kohn Vice President Since 2011 Vice President of all the DFA Entities. Head of 1971 Defined Contribution Sales for Dimensional Fund Advisors LP (since August 2010). --------------------------------------------------------------------------------------------------------------------------- Joseph F. Kolerich Vice President Since 2004 Vice President of all the DFA Entities. Senior 1971 Portfolio Manager of Dimensional Fund Advisors LP (since January 2012). Formerly, Portfolio Manager for Dimensional (April 2001-January 2012). --------------------------------------------------------------------------------------------------------------------------- Mark D. Krasniewski Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1981 Senior Associate, Investment Analytics and Data (January 2012-December 2012) and Systems Developer (June 2007-December 2011) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Kahne L. Krause Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1966 Regional Director (May 2010-January 2014) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Stephen W. Kurad Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1968 Regional Director for Dimensional Fund Advisors LP (2007-2010). --------------------------------------------------------------------------------------------------------------------------- 27 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------------- Michael F. Lane Vice President Since 2004 Vice President of all the DFA Entities. Formerly, 1967 Chief Executive Officer for Dimensional SmartNest (US) LLC (July 2012-November 2014). ------------------------------------------------------------------------------------------------------------------------- Francis R. Lao Vice President Since 2011 Vice President of all the DFA Entities. Formerly, Vice 1969 President - Global Operations at Janus Capital Group (2005-2011). ------------------------------------------------------------------------------------------------------------------------- David F. LaRusso Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1978 Senior Trader (January 2010-December 2012) and Trader (2000-2009) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- Juliet H. Lee Vice President Since 2005 Vice President of all the DFA Entities. 1971 ------------------------------------------------------------------------------------------------------------------------- Marlena I. Lee Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1980 Research Associate for Dimensional Fund Advisors LP (July 2008-2010). ------------------------------------------------------------------------------------------------------------------------- John B. Lessley Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1960 Regional Director for Dimensional Fund Advisors LP (January 2008-January 2013). ------------------------------------------------------------------------------------------------------------------------- Apollo D. Lupescu Vice President Since 2009 Vice President of all the DFA Entities. 1969 ------------------------------------------------------------------------------------------------------------------------- Peter Magnusson Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1969 Regional Director for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President at Columbia Management (2004-2010). ------------------------------------------------------------------------------------------------------------------------- Kenneth M. Manell Vice President Since 2010 Vice President of all the DFA Entities and 1972 Dimensional Cayman Commodity Fund I Ltd. Formerly, Counsel for Dimensional Fund Advisors LP (September 2006-January 2010). ------------------------------------------------------------------------------------------------------------------------- Aaron M. Marcus Vice President Since 2008 Vice President of all DFA Entities and Head of 1970 Global Human Resources for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- David R. Martin Vice President, Chief Since 2007 Vice President, Chief Financial Officer and Treasurer 1956 Financial Officer and of all the DFA Entities. Director, Vice President, Treasurer Chief Financial Officer and Treasurer of Dimensional Fund Advisors Ltd., DFA Australia Limited, Dimensional Advisors Pte. Ltd., Dimensional Hong Kong Limited, Dimensional Fund Advisors Canada ULC, and Dimensional Cayman Commodity Fund I Ltd. Director of Dimensional Funds plc and Dimensional Funds II plc. Statutory Auditor of Dimensional Japan Ltd. Formerly, Chief Financial Officer, Treasurer and Vice President of Dimensional SmartNest (US) LLC (October 2010-November 2014). ------------------------------------------------------------------------------------------------------------------------- Bryan R. McClune Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1975 Regional Director of Dimensional Fund Advisors LP (January 2009-January 2014). ------------------------------------------------------------------------------------------------------------------------- Philip P. McInnis Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1984 Regional Director (January 2009-January 2014) and Senior Associate (2011) for Dimensional Fund Advisors LP; Investment Consultant (March 2010- December 2010) and Investment Analyst (December 2007-March 2010) at Towers Watson. ------------------------------------------------------------------------------------------------------------------------- Jonathan G. Nelson Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Manager, Investment Systems (2011-January 2013) and Project Manager (2007-2010) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- 28 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ----------------------------------------------------------------------------------------------------------------------------- Catherine L. Newell Vice President and Vice President since 1997 Vice President and Secretary of all the DFA Entities. 1964 Secretary and Secretary since 2000 Director, Vice President and Secretary 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 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). Director of 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). Formerly, Vice President and Secretary of Dimensional SmartNest (US) LLC (October 2010- November 2014). ----------------------------------------------------------------------------------------------------------------------------- Pamela B. Noble Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1964 Portfolio Manager for Dimensional Fund Advisors LP (2008-2010). ----------------------------------------------------------------------------------------------------------------------------- Selwyn Notelovitz Vice President and Since 2013 Vice President of all the DFA Entities. Deputy Chief 1961 Deputy Chief Compliance Officer of Dimensional Fund Advisors Compliance Officer LP (since December 2012). Formerly, Chief Compliance Officer of Wellington Management Company, LLP (2004-2011). ----------------------------------------------------------------------------------------------------------------------------- Carolyn L. O Vice President Since 2010 Vice President of all the DFA Entities and 1974 Dimensional Cayman Commodity Fund I Ltd. Deputy General Counsel, Funds (since 2011). Formerly, Counsel for Dimensional Fund Advisors LP (2007- 2010). ----------------------------------------------------------------------------------------------------------------------------- Gerard K. O'Reilly Vice President and Co- Vice President since 2007 Vice President and Co-Chief Investment Officer of all 1976 Chief Investment and Co-Chief Investment the DFA Entities and Dimensional Fund Advisors Officer Officer since 2014 Canada ULC. Director of Dimensional Funds plc and Dimensional Fund II plc. ----------------------------------------------------------------------------------------------------------------------------- Daniel C. Ong Vice President Since 2009 Vice President of all the DFA Entities. Portfolio 1973 Manager for Dimensional Fund Advisors LP (since July 2005). ----------------------------------------------------------------------------------------------------------------------------- Kyle K. Ozaki Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1978 Senior Compliance Officer (January 2008-January 2010) and Compliance Officer (February 2006- December 2007) for Dimensional Fund Advisors LP. ----------------------------------------------------------------------------------------------------------------------------- Matthew A. Pawlak Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1977 Regional Director for Dimensional Fund Advisors LP (2012-January 2013); Senior Consultant (June 2011- December 2011) and Senior Investment Analyst and Consultant (July 2008-June 2011) at Hewitt EnnisKnupp. ----------------------------------------------------------------------------------------------------------------------------- David A. Plecha Vice President Since 1993 Vice President of all the DFA Entities, DFA Australia 1961 Limited, Dimensional Fund Advisors Ltd. and Dimensional Fund Advisors Canada ULC. ----------------------------------------------------------------------------------------------------------------------------- Allen Pu Vice President Since 2011 Vice President of all the DFA Entities. Portfolio 1970 Manager for Dimensional Fund Advisors LP (since 2006). ----------------------------------------------------------------------------------------------------------------------------- Theodore W. Randall Vice President Since 2008 Vice President of all the DFA Entities. Formerly, 1973 Research Associate for Dimensional Fund Advisors LP (2006 to 2008). ----------------------------------------------------------------------------------------------------------------------------- David J. Rapozo Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1967 Regional Director for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President at BlackRock (2009-2010). ----------------------------------------------------------------------------------------------------------------------------- Mark A. Regier Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1969 Planning and Analysis Manager for Dimensional Fund Advisors LP (July 2007-January 2014). ----------------------------------------------------------------------------------------------------------------------------- 29 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------ Savina B. Rizova Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1981 Research Associate (June 2011-January 2012) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ L. Jacobo Rodriguez Vice President Since 2005 Vice President of all the DFA Entities. 1971 ------------------------------------------------------------------------------------------------------------------ Oliver J. Rowe Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1960 Senior Manager, Human Resources for Dimensional Fund Advisors LP (January 2012-January 2014); Director of Human Resources at Spansion, Inc. (March 2009-December 2011). ------------------------------------------------------------------------------------------------------------------ Julie A. Saft Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1959 Client Systems Manager for Dimensional Fund Advisors LP (July 2008-January 2010); Senior Manager at Vanguard (November 1997-July 2008). ------------------------------------------------------------------------------------------------------------------ Walid A. Shinnawi Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1961 Regional Director for Dimensional Fund Advisors LP (March 2006-January 2010). ------------------------------------------------------------------------------------------------------------------ Bruce A. Simmons Vice President Since 2009 Vice President of all the DFA Entities. Formerly, 1965 Investment Operations Manager for Dimensional Fund Advisors LP (May 2007-January 2009). ------------------------------------------------------------------------------------------------------------------ Ted R. Simpson Vice President Since 2007 Vice President of all the DFA Entities. 1968 ------------------------------------------------------------------------------------------------------------------ Bhanu P. Singh Vice President Since 2014 Vice President of all the DFA Entities. Portfolio 1981 Manager for Dimensional Fund Advisors LP (since January 2012). Formerly, Investment Associate for Dimensional Fund Advisors LP (August 2010- December 2011). ------------------------------------------------------------------------------------------------------------------ Bryce D. Skaff Vice President Since 2007 Vice President of all the DFA Entities. 1975 ------------------------------------------------------------------------------------------------------------------ Lukas J. Smart Vice President Since 2014 Vice President of all the DFA Entities. Portfolio 1977 Manager of Dimensional Fund Advisors LP (since January 2010). ------------------------------------------------------------------------------------------------------------------ Andrew D. Smith Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1968 Project Manager for Dimensional Fund Advisors LP (2007-2010). ------------------------------------------------------------------------------------------------------------------ Grady M. Smith Vice President Since 2004 Vice President of all the DFA Entities and 1956 Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------ Carl G. Snyder Vice President Since 2000 Vice President of all the DFA Entities. 1963 ------------------------------------------------------------------------------------------------------------------ Lawrence R. Spieth Vice President Since 2004 Vice President of all the DFA Entities. 1947 ------------------------------------------------------------------------------------------------------------------ Richard H. Tatlow V Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (April 2010-January 2013). ------------------------------------------------------------------------------------------------------------------ Blake T. Tatsuta Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1973 Manager, Investment Analytics and Data (2012- January 2013) and Research Assistant (2002-2011) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ Erik T. Totten Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1980 Regional Director (2010-January 2013) and Senior Associate (2007-2009) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ John H. Totten Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1978 Regional Director for Dimensional Fund Advisors LP (January 2008-January 2012). ------------------------------------------------------------------------------------------------------------------ Robert C. Trotter Vice President Since 2009 Vice President of all the DFA Entities. 1958 ------------------------------------------------------------------------------------------------------------------ Karen E. Umland Vice President Since 1997 Vice President of all the DFA Entities, DFA Australia 1966 Limited, Dimensional Fund Advisors Ltd., and Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------ 30 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ---------------------------------------------------------------------------------------------------------------- Benjamin C. Walker Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1979 Regional Director for Dimensional Fund Advisors LP (September 2008-January 2014). ---------------------------------------------------------------------------------------------------------------- Brian J. Walsh Vice President Since 2009 Vice President of all the DFA Entities. Portfolio 1970 Manager for Dimensional Fund Advisors LP (since 2004). ---------------------------------------------------------------------------------------------------------------- Weston J. Wellington Vice President Since 1997 Vice President of all the DFA Entities. 1951 ---------------------------------------------------------------------------------------------------------------- Ryan J. Wiley Vice President Since 2007 Vice President of all the DFA Entities. 1976 ---------------------------------------------------------------------------------------------------------------- Paul E. Wise Vice President Since 2005 Vice President of all the DFA Entities. 1955 ---------------------------------------------------------------------------------------------------------------- Joseph L. Young Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1978 Regional Director for Dimensional Fund Advisors LP (2005-2010). ---------------------------------------------------------------------------------------------------------------- /1/ Each officer holds office for an indefinite term at the pleasure of the Board of Directors and until his or her successor is elected and qualified. 31 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://us.dimensional.com and reflects the twelve-month period beginning July 1st and ending June 30th. 32 NOTICE TO SHAREHOLDERS (Unaudited) For shareholders that do not have an October 31, 2014 tax year end, this notice is for informational purposes only. For shareholders with an October 31, 2014 tax year end, please consult your tax advisor as to the pertinence of this notice. For the fiscal year November 1, 2013 to October 31, 2014, 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 Qualifying Income Capital Gain Capital Gain Total Government Received Dividend DFA Investment Dimensions Group Inc. Distributions Distributions Distributions Distributions Interest(1) Deduction(2) Income(3) ------------------------------------ ------------- ------------- ------------- ------------- ----------- ------------ ---------- Dimensional Retirement Fixed Income Fund II................... 99% -- 1% 100% -- -- -- Dimensional Retirement Fixed Income Fund III.................. 100% -- -- 100% 100% -- -- Qualifying Short- Foreign Foreign Qualifying Term Tax Source Interest Capital DFA Investment Dimensions Group Inc. Credit(4) Income(5) Income(6) Gain(7) ------------------------------------ --------- --------- ---------- ---------- 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. (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). 33 [LOGO] DFA103114-034A [LOGO] ANNUAL REPORT period ended: October 31, 2014 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 2014 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 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 Schedule 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............ 19 Statements of Assets and Liabilities.................... 23 Statements of Operations................................ 24 Statements of Changes in Net Assets..................... 25 Financial Highlights.................................... 26 Notes to Financial Statements........................... 28 Report of Independent Registered Public Accounting Firm. 37 Fund Management............................................ 38 Voting Proxies on Fund Portfolio Securities................ 49 Notice to Shareholders..................................... 50 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 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. LARGE CAP GROWTH PORTFOLIO VS. RUSSELL 1000(R) GROWTH INDEX December 20, 2012-October 31, 2014 [CHART] U.S. Large Cap Growth Portfolio Russell 1000(R) Growth Index ------------------------------- --------------------------- 12/20/2012 10,000 10,000 12/31/2012 9,980 9,901 1/31/2013 10,470 10,326 2/28/2013 10,590 10,454 3/31/2013 10,979 10,846 4/30/2013 11,150 11,076 5/31/2013 11,440 11,282 6/30/2013 11,269 11,070 7/31/2013 11,892 11,657 8/31/2013 11,611 11,457 9/30/2013 12,104 11,968 10/31/2013 12,658 12,497 11/30/2013 13,072 12,850 12/31/2013 13,366 13,217 1/31/2014 12,769 12,840 2/28/2014 13,437 13,501 3/31/2014 13,470 13,365 4/30/2014 13,531 13,365 5/31/2014 13,877 13,782 6/30/2014 14,106 14,050 7/31/2014 13,851 13,835 Past performance is not predictive of 8/31/2014 14,483 14,469 future performance. 9/30/2014 14,237 14,259 The returns shown do not reflect the 10/31/2014 14,646 14,635 deduction of taxes that a shareholder would pay on fund distributions or the Average Annual One Since redemption of fund shares. Total Return Year Inception Russell data copyright (C) Russell ------------------------------------------------------------- Investment Group 1995-2014, all 15.70% 22.73% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- U.S. SMALL CAP GROWTH PORTFOLIO VS. RUSSELL 2000(R) GROWTH INDEX December 20, 2012-October 31, 2014 [CHART] U.S. Small Cap Growth Russell 2000(R) Growth Portfolio Index ------------------- ------------------- 12/20/12 10,000 10,000 12/31/12 10,060 9,977 1/31/13 10,630 10,634 2/28/13 10,690 10,747 3/31/13 11,225 11,295 4/30/13 11,085 11,221 5/31/13 11,705 11,790 6/30/13 11,718 11,717 7/31/13 12,529 12,603 8/31/13 12,249 12,357 9/30/13 13,036 13,217 10/31/13 13,517 13,458 11/30/13 14,099 14,011 12/31/13 14,358 14,297 1/31/14 13,679 14,050 2/28/14 14,237 14,730 3/31/14 14,274 14,367 4/30/14 13,848 13,629 5/31/14 13,869 13,760 6/30/14 14,591 14,614 7/31/14 13,758 13,729 Past performance is not predictive of 8/31/14 14,347 14,495 future performance. 9/30/14 13,746 13,719 The returns shown do not reflect the 10/31/14 14,550 14,570 deduction of taxes that a shareholder would pay on fund distributions or the Average Annual One Since redemption of fund shares. Total Return Year Inception Russell data copyright (C) Russell ---------------------------------------------------- Investment Group 1995-2014, all 7.64% 22.30% 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, 2014 [CHART] International Large Cap Growth MSCI World ex USA Growth Portfolio Index (net dividends) ------------------------------ ------------------------ 12/20/12 10,000 10,000 12/31/12 10,030 9,932 1/31/13 10,370 10,366 2/28/13 10,300 10,401 3/31/13 10,455 10,553 4/30/13 10,846 10,926 5/31/13 10,726 10,714 6/30/13 10,440 10,347 7/31/13 11,017 10,831 8/31/13 10,835 10,683 9/30/13 11,642 11,392 10/31/13 11,998 11,691 11/30/13 12,099 11,773 12/31/13 12,336 11,971 1/31/14 11,784 11,452 2/28/14 12,479 12,073 3/31/14 12,449 12,018 4/30/14 12,593 12,127 5/31/14 12,777 12,355 6/30/14 12,955 12,498 7/31/14 12,614 12,230 8/31/14 12,707 12,298 9/30/14 12,173 11,843 Past performance is not predictive of 10/31/14 12,142 11,727 future performance. The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Since would pay on fund distributions or the Total Return Year Inception redemption of fund shares. ---------------------------------------------------------- MSCI data copyright MSCI 2014, all 1.21% 10.98% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- INTERNATIONAL SMALL CAP GROWTH PORTFOLIO VS. MSCI WORLD EX USA SMALL CAP GROWTH INDEX (NET DIVIDENDS) December 20, 2012-October 31, 2014 [CHART] International Small Cap Growth MSCI World ex USA Small Cap Growth Portfolio Index (net dividends) ------------------------------- ----------------------------------- 12/20/12 10000 10000 12/31/12 10050 9979 1/31/13 10460 10332 2/28/13 10530 10348 3/31/13 10813 10608 4/30/13 11123 10813 5/31/13 10793 10585 6/30/13 10619 10181 7/31/13 11255 10814 8/31/13 11225 10784 9/30/13 12048 11690 10/31/13 12383 11933 11/30/13 12484 12008 12/31/13 12824 12307 1/31/14 12447 12074 2/28/14 13150 12775 3/31/14 13175 12667 4/30/14 13175 12552 5/31/14 13348 12745 6/30/14 13518 13054 7/31/14 13076 12710 8/31/14 13220 12782 9/30/14 12464 12034 Past performance is not predictive of 10/31/14 12361 11772 future performance. The returns shown do not reflect the deduction of taxes that a shareholder Average Annual One Since would pay on fund distributions or the Total Return Year Inception redemption of fund shares. --------------------------------------------------------------- MSCI data copyright MSCI 2014, all -0.18% 12.05% rights reserved. -------------------------------------------------------------------------------- 3 DFA INVESTMENT DIMENSIONS GROUP INC. MANAGEMENT'S DISCUSSION AND ANALYSIS (Unaudited) U.S. Equity Market Review 12 Months Ended October 31, 2014 U.S. equities had strong gains during the period. The broad U.S. equity market, as measured by the Russell 3000(R) Index, had positive returns in 9 of the 12 months. As measured by the Russell indices, large cap stocks outperformed small cap stocks. Total Return for 12 Months Ended October 31, 2014 ------------------------------------------------- Russell 3000(R) Index........................ 16.07% Russell Microcap(R) Index (micro cap stocks). 7.34% Russell 2000(R) Index (small cap stocks)..... 8.06% Russell 1000(R) Index (large cap stocks)..... 16.78% Dow Jones U.S. Select REIT Index/SM/......... 20.69% Growth stocks slightly outperformed value stocks as measured by the Russell indices. Total Return for 12 Months Ended October 31, 2014 ------------------------------------------------- Russell 2000(R) Value Index (small cap value stocks)... 7.89% Russell 2000(R) Growth Index (small cap growth stocks). 8.26% Russell 1000(R) Value Index (large cap value stocks)... 16.46% Russell 1000(R) Growth Index (large cap growth stocks). 17.11% ---------- Source: Russell data copyright (C) Russell Investment Group 1995-2014, 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 period 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 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, 2014, the Portfolio held approximately 325 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, 2014, total returns were 15.70% for the Portfolio and 17.11% for the Russell 1000 Growth Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad trends in the U.S. equity market rather than the behavior of a limited number of stocks. Within the large-cap growth universe, the Portfolio emphasizes smaller capitalization large-cap stocks, stocks with higher book-to-market ratios, and stocks with high profitability. High profitability stocks generally underperformed those with lower profitability during the period, which detracted from the Portfolio's relative performance. 4 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, 2014, the Portfolio held approximately 560 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, 2014, total returns were 7.64% for the Portfolio and 8.26% for the Russell 2000(R) Growth Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad trends in the U.S. equity market rather than the behavior of a limited number of stocks. The Portfolio had more exposure than the Index to small cap stocks and less exposure to mid-cap stocks, which detracted from the Portfolio's relative performance as the Portfolio's small cap holdings generally underperformed relative to mid-caps. The Portfolio's exclusion of REITs also detracted from the Portfolio's relative performance as compared to the Index as REITs outperformed the Portfolio's average return during the period. International Equity Market Review 12 Months Ended October 31, 2014 Performance of non-U.S. developed markets was generally negative for the period. Only large cap growth stocks had positive returns. As measured by the MSCI world ex USA indices, large cap stocks outperformed small cap stocks, and growth stocks outperformed value stocks. 12 Months Ended October 31, 2014 -------------------------------- Return in U.S. Dollars ---------------------- MSCI World ex USA Index.................. -0.15% MSCI World ex USA Small Cap Index........ -2.14% MSCI World ex USA Value Index............ -0.62% MSCI World ex USA Growth Index........... 0.31% MSCI World ex USA Small Cap Value Index.. -2.95% MSCI World ex USA Small Cap Growth Index. -1.35% During the period, the U.S. dollar (USD) appreciated against developed markets currencies, detracting from USD-denominated returns of non-U.S. securities in developed markets. 12 Months Ended October 31, 2014 -------------------------------- Ten Largest Foreign Developed Markets by Market Cap Local Return Return in U.S. Dollars --------------------------------------------------- ------------ ---------------------- United Kingdom.................... 0.55% 0.12% Japan............................. 13.47% -0.70% Canada............................ 12.71% 4.26% France............................ 1.34% -6.61% Switzerland....................... 9.61% 3.13% Germany........................... 2.52% -5.52% Australia......................... 6.74% -0.92% Spain............................. 10.44% 1.78% Hong Kong......................... 10.24% 10.21% Sweden............................ 13.18% -1.03% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2014, all rights reserved. International Equity Portfolios' Performance Overview International Large Cap Growth Portfolio The International Large Cap Growth Portfolio seeks to capture the returns of international large company growth stocks with higher profitability. The investment strategy is process driven, emphasizing broad diversification. 5 As of October 31, 2014, the Portfolio held approximately 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, 2014, total returns were 1.21% for the Portfolio and 0.31% 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 trends in the international equity markets rather than by the behavior of a limited number of stocks. The Portfolio's greater focus on companies with higher expected profitability was primarily responsible for the Portfolio's outperformance relative to the Index. To a lesser extent, the Portfolio's greater exposure to more pronounced growth stocks, as measured by price-to-book, contributed to the Portfolio's performance as these stocks generally outperformed in Index average return. Differences in the valuation timing and methodology between the Portfolio and the Index generally contributed to the Portfolio's relative outperformance. 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 an emphasis on those with higher profitability. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2014, the Portfolio held approximately 840 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, 2014, total returns were -0.18% for the Portfolio and -1.35% 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 trends in the international equity markets rather than by the behavior of a limited number of stocks. The Portfolio's greater focus on companies with higher profitability was primarily responsible for the Portfolio's outperformance relative to the Index. To a lesser extent, the Portfolio's greater exposure to more pronounced growth stocks, as measured by price-to-book, also contributed to the Portfolio's outperformance as these stocks generally outperformed the Index average return. Differences in the valuation timing and methodology between the Portfolio and the Index generally contributed to the Portfolio's relative outperformance. 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, 2014 EXPENSE TABLES Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- U.S. Large Cap Growth Portfolio ------------------------------- Actual Fund Return Institutional Class Shares..... $1,000.00 $1,082.40 0.20% $1.05 Hypothetical 5% Annual Return Institutional Class Shares..... $1,000.00 $1,024.20 0.20% $1.02 7 DISCLOSURE OF FUND EXPENSES CONTINUED Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/14 10/31/14 Ratio* Period* --------- --------- ---------- -------- U.S. Small Cap Growth Portfolio ------------------------------- Actual Fund Return Institutional Class Shares.............. $1,000.00 $1,050.70 0.40% $2.07 Hypothetical 5% Annual Return Institutional Class Shares.............. $1,000.00 $1,023.19 0.40% $2.04 International Large Cap Growth Portfolio ---------------------------------------- Actual Fund Return Institutional Class Shares.............. $1,000.00 $ 964.20 0.30% $1.49 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 $ 938.20 0.55% $2.69 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 29, 2014. 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 U.S. Large Cap Growth Portfolio Consumer Discretionary....................... 22.0% Consumer Staples............................. 12.2% Energy....................................... 3.5% Financials................................... 3.1% Health Care.................................. 14.9% Industrials.................................. 14.0% Information Technology....................... 20.4% Materials.................................... 5.2% Telecommunication Services................... 4.7% ----- 100.0% U.S. Small Cap Growth Portfolio Consumer Discretionary....................... 23.8% Consumer Staples............................. 4.2% Energy....................................... 2.3% Financials................................... 7.1% Health Care.................................. 12.1% Industrials.................................. 19.7% Information Technology....................... 23.2% Materials.................................... 6.9% Real Estate Investment Trusts................ -- Telecommunication Services................... 0.7% ----- 100.0% International Large Cap Growth Portfolio Consumer Discretionary....................... 19.8% Consumer Staples............................. 13.3% Energy....................................... 4.3% Financials................................... 6.0% Health Care.................................. 14.5% Industrials.................................. 17.6% Information Technology....................... 6.7% Materials.................................... 8.8% Telecommunication Services................... 6.0% Utilities.................................... 3.0% ----- 100.0% International Small Cap Growth Portfolio Consumer Discretionary....................... 22.5% Consumer Staples............................. 6.5% Energy....................................... 3.9% Financials................................... 5.1% Health Care.................................. 9.1% Industrials.................................. 28.1% Information Technology....................... 13.5% Materials.................................... 6.2% Other........................................ -- Telecommunication Services................... 4.3% Utilities.................................... 0.8% ----- 100.0% 9 U.S. LARGE CAP GROWTH PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (89.6%) Consumer Discretionary -- (19.7%) * Amazon.com, Inc...................... 18,462 $ 5,639,402 1.1% * Charter Communications, Inc. Class A. 17,089 2,706,727 0.5% * Dollar General Corp.................. 40,468 2,536,130 0.5% Ford Motor Co........................ 194,181 2,736,010 0.5% Home Depot, Inc. (The)............... 95,208 9,284,684 1.8% Lowe's Cos., Inc..................... 47,651 2,725,637 0.5% McDonald's Corp...................... 67,233 6,301,749 1.2% NIKE, Inc. Class B................... 28,802 2,677,722 0.5% #* O'Reilly Automotive, Inc............. 15,770 2,773,628 0.6% Omnicom Group, Inc................... 39,207 2,817,415 0.6% Ross Stores, Inc..................... 31,578 2,548,976 0.5% Starbucks Corp....................... 52,934 3,999,693 0.8% TJX Cos., Inc. (The)................. 46,151 2,922,281 0.6% Other Securities..................... 61,325,538 12.1% ------------ ------ Total Consumer Discretionary............. 110,995,592 21.8% ------------ ------ Consumer Staples -- (10.9%) Altria Group, Inc.................... 128,765 6,224,500 1.2% Coca-Cola Co. (The).................. 150,187 6,289,832 1.2% Colgate-Palmolive Co................. 61,297 4,099,543 0.8% Kimberly-Clark Corp.................. 25,119 2,870,348 0.6% PepsiCo, Inc......................... 73,387 7,057,628 1.4% Wal-Mart Stores, Inc................. 69,459 5,297,638 1.1% Other Securities..................... 29,966,846 5.8% ------------ ------ Total Consumer Staples................... 61,806,335 12.1% ------------ ------ Energy -- (3.1%) Halliburton Co....................... 57,145 3,150,975 0.6% Schlumberger, Ltd.................... 43,982 4,339,264 0.9% Other Securities..................... 10,187,226 2.0% ------------ ------ Total Energy............................. 17,677,465 3.5% ------------ ------ Financials -- (2.8%) American Express Co.................. 65,707 5,910,345 1.2% Other Securities..................... 9,895,399 1.9% ------------ ------ Total Financials......................... 15,805,744 3.1% ------------ ------ Health Care -- (13.3%) AbbVie, Inc.......................... 116,287 7,379,573 1.4% Amgen, Inc........................... 36,279 5,883,728 1.2% * Biogen Idec, Inc..................... 10,454 3,356,570 0.7% * Celgene Corp......................... 34,700 3,716,023 0.7% * Gilead Sciences, Inc................. 111,469 12,484,528 2.4% Johnson & Johnson.................... 138,988 14,980,127 2.9% St Jude Medical, Inc................. 44,079 2,828,549 0.6% Other Securities..................... 24,725,301 4.9% ------------ ------ Total Health Care........................ 75,354,399 14.8% ------------ ------ Industrials -- (12.6%) 3M Co................................ 27,640 4,250,203 0.8% Boeing Co. (The)..................... 46,926 5,861,527 1.1% # Caterpillar, Inc..................... 31,077 3,151,519 0.6% Emerson Electric Co.................. 48,252 3,091,023 0.6% 10 U.S. LARGE CAP GROWTH PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Industrials -- (Continued) Honeywell International, Inc....................... 34,031 $ 3,271,060 0.6% Lockheed Martin Corp............................... 17,469 3,329,067 0.7% * United Continental Holdings, Inc................... 83,512 4,410,269 0.9% United Parcel Service, Inc. Class B................ 48,239 5,060,753 1.0% Other Securities................................... 38,553,941 7.7% ------------ ------ Total Industrials........................................ 70,979,362 14.0% ------------ ------ Information Technology -- (18.3%) Accenture P.L.C. Class A........................... 44,230 3,587,938 0.7% Apple, Inc......................................... 182,481 19,707,948 3.9% * Fiserv, Inc........................................ 37,993 2,639,754 0.5% International Business Machines Corp............... 69,515 11,428,266 2.3% MasterCard, Inc. Class A........................... 71,864 6,018,610 1.2% Microsoft Corp..................................... 376,087 17,657,285 3.5% Oracle Corp........................................ 180,048 7,030,874 1.4% # Seagate Technology P.L.C........................... 46,479 2,920,276 0.6% Texas Instruments, Inc............................. 51,825 2,573,629 0.5% Visa, Inc. Class A................................. 23,804 5,747,000 1.1% Other Securities................................... 23,886,003 4.6% ------------ ------ Total Information Technology............................. 103,197,583 20.3% ------------ ------ Materials -- (4.7%) LyondellBasell Industries NV Class A............... 33,927 3,108,731 0.6% Monsanto Co........................................ 23,328 2,683,653 0.5% Other Securities................................... 20,565,027 4.1% ------------ ------ Total Materials.......................................... 26,357,411 5.2% ------------ ------ Telecommunication Services -- (4.2%) Verizon Communications, Inc........................ 389,900 19,592,475 3.9% Other Securities................................... 4,283,774 0.8% ------------ ------ Total Telecommunication Services......................... 23,876,249 4.7% ------------ ------ TOTAL COMMON STOCKS...................................... 506,050,140 99.5% ------------ ------ TEMPORARY CASH INVESTMENTS -- (0.5%) State Street Institutional Liquid Reserves, 0.077%. 2,557,103 2,557,103 0.5% ------------ ------ SECURITIES LENDING COLLATERAL -- (9.9%) (S)@ DFA Short Term Investment Fund..................... 4,850,200 56,116,814 11.0% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $502,404,008).................................. $564,724,057 111.0% ============ ====== 11 U.S. LARGE CAP GROWTH PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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...... $110,995,592 -- -- $110,995,592 Consumer Staples............ 61,806,335 -- -- 61,806,335 Energy...................... 17,677,465 -- -- 17,677,465 Financials.................. 15,805,744 -- -- 15,805,744 Health Care................. 75,354,399 -- -- 75,354,399 Industrials................. 70,979,362 -- -- 70,979,362 Information Technology...... 103,197,583 -- -- 103,197,583 Materials................... 26,357,411 -- -- 26,357,411 Telecommunication Services.. 23,876,249 -- -- 23,876,249 Temporary Cash Investments.... 2,557,103 -- -- 2,557,103 Securities Lending Collateral. -- $56,116,814 -- 56,116,814 ------------ ----------- -- ------------ TOTAL......................... $508,607,243 $56,116,814 -- $564,724,057 ============ =========== == ============ See accompanying Notes to Financial Statements. 12 U.S. SMALL CAP GROWTH PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (77.6%) Consumer Discretionary -- (18.5%) Big Lots, Inc.................................. 18,733 $ 855,161 0.5% Brinker International, Inc..................... 19,058 1,022,271 0.6% #* Buffalo Wild Wings, Inc........................ 6,333 945,390 0.5% # Cheesecake Factory, Inc. (The)................. 18,039 828,712 0.5% # Cracker Barrel Old Country Store, Inc.......... 7,393 852,783 0.5% CST Brands, Inc................................ 24,683 944,125 0.5% * Deckers Outdoor Corp........................... 11,125 972,993 0.5% Jack in the Box, Inc........................... 12,741 905,121 0.5% Pool Corp...................................... 14,095 841,472 0.5% # Thor Industries, Inc........................... 17,243 911,982 0.5% Vail Resorts, Inc.............................. 11,387 983,381 0.5% # Wolverine World Wide, Inc...................... 31,153 845,492 0.5% Other Securities............................... 32,157,861 17.6% ----------- ------ Total Consumer Discretionary....................... 43,066,744 23.7% ----------- ------ Consumer Staples -- (3.3%) # Casey's General Stores, Inc.................... 11,686 956,733 0.5% # Pricesmart, Inc................................ 9,660 860,030 0.5% Other Securities............................... 5,887,426 3.2% ----------- ------ Total Consumer Staples............................. 7,704,189 4.2% ----------- ------ Energy -- (1.8%) * Carrizo Oil & Gas, Inc......................... 16,155 839,091 0.5% Other Securities............................... 3,260,406 1.8% ----------- ------ Total Energy....................................... 4,099,497 2.3% ----------- ------ Financials -- (5.5%) Bank of Hawaii Corp............................ 14,486 848,155 0.5% # Bank of the Ozarks, Inc........................ 23,139 815,418 0.5% #* Credit Acceptance Corp......................... 5,713 843,010 0.5% PRA Group, Inc................................. 16,314 1,031,861 0.6% Other Securities............................... 9,263,997 5.0% ----------- ------ Total Financials................................... 12,802,441 7.1% ----------- ------ Health Care -- (9.4%) #* Akorn, Inc..................................... 26,465 1,179,016 0.7% * Charles River Laboratories International, Inc.. 15,916 1,005,255 0.6% HealthSouth Corp............................... 24,154 974,131 0.5% Hill-Rom Holdings, Inc......................... 18,581 826,483 0.5% #* Myriad Genetics, Inc........................... 21,034 830,633 0.5% #* PAREXEL International Corp..................... 16,733 908,769 0.5% STERIS Corp.................................... 17,836 1,102,265 0.6% Other Securities............................... 15,060,996 8.2% ----------- ------ Total Health Care.................................. 21,887,548 12.1% ----------- ------ Industrials -- (15.3%) * Armstrong World Industries, Inc................ 18,651 903,081 0.5% # CLARCOR, Inc................................... 15,187 1,016,922 0.6% # Deluxe Corp.................................... 16,264 988,851 0.5% # Landstar System, Inc........................... 13,913 1,029,701 0.6% #* Rexnord Corp................................... 31,856 941,345 0.5% 13 U.S. SMALL CAP GROWTH PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Industrials -- (Continued) * Spirit Airlines, Inc............................... 18,235 $ 1,333,161 0.7% Other Securities................................... 29,563,336 16.3% ------------ ------ Total Industrials........................................ 35,776,397 19.7% ------------ ------ Information Technology -- (18.0%) Booz Allen Hamilton Holding Corp................... 33,225 875,479 0.5% #* Euronet Worldwide, Inc............................. 16,896 906,808 0.5% # j2 Global, Inc..................................... 15,962 863,385 0.5% * Manhattan Associates, Inc.......................... 22,432 899,748 0.5% MAXIMUS, Inc....................................... 21,322 1,033,264 0.6% #* RF Micro Devices, Inc.............................. 70,040 911,220 0.5% * Sapient Corp....................................... 46,955 813,261 0.4% * SolarWinds, Inc.................................... 23,691 1,126,507 0.6% #* Take-Two Interactive Software, Inc................. 34,387 909,536 0.5% * Tyler Technologies, Inc............................ 10,969 1,227,650 0.7% * Verint Systems, Inc................................ 17,238 991,013 0.5% #* ViaSat, Inc........................................ 14,764 924,817 0.5% * Zebra Technologies Corp. Class A................... 16,366 1,206,992 0.7% Other Securities................................... 29,305,985 16.1% ------------ ------ Total Information Technology............................. 41,995,665 23.1% ------------ ------ Materials -- (5.3%) Compass Minerals International, Inc................ 11,247 963,643 0.5% * KapStone Paper and Packaging Corp.................. 32,658 1,004,560 0.6% Minerals Technologies, Inc......................... 11,016 845,037 0.5% Sensient Technologies Corp......................... 15,465 915,219 0.5% Worthington Industries, Inc........................ 21,875 845,469 0.5% Other Securities................................... 7,846,616 4.2% ------------ ------ Total Materials.......................................... 12,420,544 6.8% ------------ ------ Real Estate Investment Trusts -- (0.0%) Other Securities................................... 77,013 0.0% ------------ ------ Telecommunication Services -- (0.5%) Other Securities................................... 1,278,654 0.7% ------------ ------ TOTAL COMMON STOCKS...................................... 181,108,692 99.7% ------------ ------ TEMPORARY CASH INVESTMENTS -- (0.6%) State Street Institutional Liquid Reserves, 0.077%. 1,381,063 1,381,063 0.8% ------------ ------ SECURITIES LENDING COLLATERAL -- (21.8%) (S)@ DFA Short Term Investment Fund..................... 4,390,401 50,796,938 27.9% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $205,465,202).................................. $233,286,693 128.4% ============ ====== 14 U.S. SMALL CAP GROWTH PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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........ $ 43,066,744 -- -- $ 43,066,744 Consumer Staples.............. 7,704,189 -- -- 7,704,189 Energy........................ 4,099,497 -- -- 4,099,497 Financials.................... 12,802,441 -- -- 12,802,441 Health Care................... 21,887,548 -- -- 21,887,548 Industrials................... 35,776,397 -- -- 35,776,397 Information Technology........ 41,995,665 -- -- 41,995,665 Materials..................... 12,420,544 -- -- 12,420,544 Real Estate Investment Trusts. 77,013 -- -- 77,013 Telecommunication Services.... 1,278,654 -- -- 1,278,654 Temporary Cash Investments...... 1,381,063 -- -- 1,381,063 Securities Lending Collateral... -- $50,796,938 -- 50,796,938 ------------ ----------- -- ------------ TOTAL........................... $182,489,755 $50,796,938 -- $233,286,693 ============ =========== == ============ See accompanying Notes to Financial Statements. 15 INTERNATIONAL LARGE CAP GROWTH PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (93.1%) AUSTRALIA -- (6.6%) Amcor, Ltd.................................. 68,361 $ 710,054 0.5% # BHP Billiton, Ltd. Sponsored ADR............ 23,600 1,402,784 1.0% Brambles, Ltd............................... 88,576 744,998 0.5% Commonwealth Bank of Australia.............. 26,243 1,866,125 1.3% # CSL, Ltd.................................... 22,146 1,563,571 1.1% # Woolworths, Ltd............................. 20,666 655,847 0.5% Other Securities............................ 3,097,048 2.2% ----------- ------ TOTAL AUSTRALIA................................. 10,040,427 7.1% ----------- ------ AUSTRIA -- (0.1%) Other Securities............................ 130,846 0.1% ----------- ------ CANADA -- (10.1%) Canadian National Railway Co................ 12,780 902,012 0.6% Canadian Pacific Railway, Ltd............... 3,000 623,040 0.4% Royal Bank of Canada........................ 22,679 1,609,997 1.1% Shaw Communications, Inc. Class B........... 27,712 711,644 0.5% * Valeant Pharmaceuticals International, Inc.. 7,400 983,559 0.7% Other Securities............................ 10,415,764 7.5% ----------- ------ TOTAL CANADA.................................... 15,246,016 10.8% ----------- ------ FINLAND -- (0.8%) Other Securities............................ 1,155,666 0.8% ----------- ------ FRANCE -- (8.1%) Air Liquide SA.............................. 5,142 620,721 0.4% Airbus Group NV............................. 13,405 800,293 0.6% Carrefour SA................................ 49,219 1,442,624 1.0% Essilor International SA.................... 6,276 693,008 0.5% LVMH Moet Hennessy Louis Vuitton SA......... 4,443 754,172 0.5% Other Securities............................ 7,886,796 5.6% ----------- ------ TOTAL FRANCE.................................... 12,197,614 8.6% ----------- ------ GERMANY -- (7.4%) BASF SE..................................... 22,149 1,957,089 1.4% Bayer AG.................................... 24,249 3,468,135 2.5% Deutsche Post AG............................ 20,600 648,690 0.5% RWE AG...................................... 28,425 1,008,569 0.7% * ThyssenKrupp AG............................. 26,123 629,605 0.5% Other Securities............................ 3,456,385 2.3% ----------- ------ TOTAL GERMANY................................... 11,168,473 7.9% ----------- ------ HONG KONG -- (3.0%) Other Securities............................ 4,578,340 3.3% ----------- ------ ISRAEL -- (0.4%) Other Securities............................ 602,943 0.4% ----------- ------ ITALY -- (2.3%) Eni SpA..................................... 52,070 1,109,346 0.8% Other Securities............................ 2,303,953 1.6% ----------- ------ TOTAL ITALY..................................... 3,413,299 2.4% ----------- ------ 16 INTERNATIONAL LARGE CAP GROWTH PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- JAPAN -- (18.8%) Bridgestone Corp.............................. 19,700 $ 658,329 0.5% Hitachi, Ltd.................................. 123,000 966,469 0.7% Japan Tobacco, Inc............................ 19,700 672,145 0.5% KDDI Corp..................................... 16,700 1,096,680 0.8% Panasonic Corp................................ 63,400 762,781 0.5% Softbank Corp................................. 24,300 1,769,026 1.3% Toyota Motor Corp. Sponsored ADR.............. 16,171 1,962,351 1.4% Other Securities.............................. 20,583,944 14.5% ----------- ------ TOTAL JAPAN....................................... 28,471,725 20.2% ----------- ------ NETHERLANDS -- (2.8%) Reed Elsevier NV.............................. 33,537 772,533 0.5% Unilever NV(B12T3J1).......................... 22,309 864,662 0.6% Unilever NV(904784709)........................ 22,285 863,098 0.6% Other Securities.............................. 1,649,118 1.2% ----------- ------ TOTAL NETHERLANDS................................. 4,149,411 2.9% ----------- ------ NORWAY -- (0.7%) Other Securities.............................. 1,111,696 0.8% ----------- ------ SINGAPORE -- (1.1%) Other Securities.............................. 1,719,293 1.2% ----------- ------ SPAIN -- (2.9%) Telefonica SA................................. 103,667 1,559,948 1.1% Other Securities.............................. 2,748,599 2.0% ----------- ------ TOTAL SPAIN....................................... 4,308,547 3.1% ----------- ------ SWEDEN -- (2.6%) Hennes & Mauritz AB Class B................... 19,659 784,384 0.5% Other Securities.............................. 3,173,055 2.3% ----------- ------ TOTAL SWEDEN...................................... 3,957,439 2.8% ----------- ------ SWITZERLAND -- (7.8%) Nestle SA..................................... 45,332 3,324,381 2.4% Roche Holding AG.............................. 15,287 4,511,215 3.2% Other Securities.............................. 4,000,443 2.8% ----------- ------ TOTAL SWITZERLAND................................. 11,836,039 8.4% ----------- ------ UNITED KINGDOM -- (17.6%) AstraZeneca P.L.C. Sponsored ADR.............. 31,965 2,331,527 1.7% BAE Systems P.L.C............................. 190,928 1,406,043 1.0% # British American Tobacco P.L.C. Sponsored ADR. 19,321 2,194,093 1.6% British Sky Broadcasting Group P.L.C.......... 55,855 791,591 0.6% Capita P.L.C.................................. 36,154 635,657 0.5% Centrica P.L.C................................ 280,963 1,362,663 1.0% Compass Group P.L.C........................... 51,215 826,649 0.6% Diageo P.L.C. Sponsored ADR................... 5,957 702,747 0.5% GlaxoSmithKline P.L.C. Sponsored ADR.......... 61,428 2,794,360 2.0% Imperial Tobacco Group P.L.C.................. 20,837 905,197 0.6% Next P.L.C.................................... 9,239 953,804 0.7% Reed Elsevier P.L.C........................... 69,314 1,140,718 0.8% SSE P.L.C..................................... 29,762 762,829 0.5% 17 INTERNATIONAL LARGE CAP GROWTH PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- UNITED KINGDOM -- (Continued) Unilever P.L.C. Sponsored ADR... 21,159 $ 851,227 0.6% Other Securities................ 8,998,543 6.2% ------------ ------ TOTAL UNITED KINGDOM................... 26,657,648 18.9% ------------ ------ TOTAL COMMON STOCKS.................... 140,745,422 99.7% ------------ ------ PREFERRED STOCKS -- (0.0%) UNITED KINGDOM -- (0.0%) Other Securities................ 3,925 0.0% ------------ ------ Value+ - ------ - SECURITIES LENDING COLLATERAL -- (6.9%) (S)@ DFA Short Term Investment Fund.. 894,875 10,353,700 7.3% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $150,850,877)................ $151,103,047 107.0% ============ ====== Summary of the Portfolio's investments as of October 31, 2014, 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................... $ 1,402,784 $ 8,637,643 -- $ 10,040,427 Austria..................... -- 130,846 -- 130,846 Canada...................... 15,246,016 -- -- 15,246,016 Finland..................... -- 1,155,666 -- 1,155,666 France...................... -- 12,197,614 -- 12,197,614 Germany..................... 575,698 10,592,775 -- 11,168,473 Hong Kong................... -- 4,578,340 -- 4,578,340 Israel...................... -- 602,943 -- 602,943 Italy....................... 127,925 3,285,374 -- 3,413,299 Japan....................... 1,962,351 26,509,374 -- 28,471,725 Netherlands................. 863,098 3,286,313 -- 4,149,411 Norway...................... 18,354 1,093,342 -- 1,111,696 Singapore................... -- 1,719,293 -- 1,719,293 Spain....................... -- 4,308,547 -- 4,308,547 Sweden...................... -- 3,957,439 -- 3,957,439 Switzerland................. -- 11,836,039 -- 11,836,039 United Kingdom.............. 9,339,887 17,317,761 -- 26,657,648 Preferred Stocks United Kingdom.............. -- 3,925 -- 3,925 Securities Lending Collateral. -- 10,353,700 -- 10,353,700 ----------- ------------ -- ------------ TOTAL......................... $29,536,113 $121,566,934 -- $151,103,047 =========== ============ == ============ See accompanying Notes to Financial Statements. 18 INTERNATIONAL SMALL CAP GROWTH PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2014 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (86.8%) AUSTRALIA -- (5.7%) # Aristocrat Leisure, Ltd..... 41,954 $ 238,517 0.4% # carsales.com, Ltd........... 24,967 235,598 0.4% Tabcorp Holdings, Ltd....... 81,545 292,923 0.4% Other Securities............ 3,561,186 5.4% ---------- ------ TOTAL AUSTRALIA................. 4,328,224 6.6% ---------- ------ AUSTRIA -- (0.5%) Other Securities............ 399,123 0.6% ---------- ------ BELGIUM -- (0.8%) Other Securities............ 588,709 0.9% ---------- ------ CANADA -- (9.0%) # Cineplex, Inc............... 7,209 271,589 0.4% DH Corp..................... 8,443 269,685 0.4% Other Securities............ 6,216,836 9.5% ---------- ------ TOTAL CANADA.................... 6,758,110 10.3% ---------- ------ DENMARK -- (1.5%) GN Store Nord A.S........... 16,833 391,661 0.6% * Topdanmark A.S.............. 10,580 336,760 0.5% Other Securities............ 378,338 0.6% ---------- ------ TOTAL DENMARK................... 1,106,759 1.7% ---------- ------ FINLAND -- (2.1%) Elisa Oyj................... 13,157 361,427 0.5% Orion Oyj Class B........... 9,907 336,953 0.5% Other Securities............ 893,932 1.4% ---------- ------ TOTAL FINLAND................... 1,592,312 2.4% ---------- ------ FRANCE -- (4.0%) Eurofins Scientific SE...... 1,101 278,488 0.4% Faurecia.................... 7,509 243,232 0.4% # Ingenico.................... 4,052 403,674 0.6% # Neopost SA.................. 3,699 256,710 0.4% Other Securities............ 1,857,863 2.8% ---------- ------ TOTAL FRANCE.................... 3,039,967 4.6% ---------- ------ GERMANY -- (4.3%) * Dialog Semiconductor P.L.C.. 7,596 262,304 0.4% MTU Aero Engines AG......... 4,854 425,721 0.6% Other Securities............ 2,559,912 3.9% ---------- ------ TOTAL GERMANY................... 3,247,937 4.9% ---------- ------ HONG KONG -- (3.0%) Other Securities............ 2,245,859 3.4% ---------- ------ IRELAND -- (0.5%) Paddy Power P.L.C........... 4,890 356,905 0.5% Other Securities............ 33,665 0.1% ---------- ------ TOTAL IRELAND................... 390,570 0.6% ---------- ------ 19 INTERNATIONAL SMALL CAP GROWTH PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- ISRAEL -- (0.6%) Other Securities....................... $ 427,176 0.7% ----------- ------ ITALY -- (2.8%) Prysmian SpA........................... 23,589 408,825 0.6% Other Securities....................... 1,703,610 2.6% ----------- ------ TOTAL ITALY................................ 2,112,435 3.2% ----------- ------ JAPAN -- (20.1%) Alps Electric Co., Ltd................. 14,000 238,296 0.4% Other Securities....................... 14,872,741 22.6% ----------- ------ TOTAL JAPAN................................ 15,111,037 23.0% ----------- ------ NETHERLANDS -- (1.8%) Aalberts Industries NV................. 11,760 313,472 0.5% Nutreco NV............................. 8,223 411,869 0.6% Other Securities....................... 604,727 0.9% ----------- ------ TOTAL NETHERLANDS.......................... 1,330,068 2.0% ----------- ------ NEW ZEALAND -- (0.9%) # Fisher & Paykel Healthcare Corp., Ltd.. 59,412 259,631 0.4% Other Securities....................... 409,252 0.6% ----------- ------ TOTAL NEW ZEALAND.......................... 668,883 1.0% ----------- ------ NORWAY -- (1.2%) Other Securities....................... 885,733 1.4% ----------- ------ PORTUGAL -- (0.3%) Other Securities....................... 230,638 0.4% ----------- ------ SINGAPORE -- (1.1%) Other Securities....................... 852,927 1.3% ----------- ------ SPAIN -- (2.2%) Bolsas y Mercados Espanoles SA......... 8,490 323,015 0.5% * Jazztel P.L.C.......................... 21,422 342,486 0.5% Other Securities....................... 984,792 1.5% ----------- ------ TOTAL SPAIN................................ 1,650,293 2.5% ----------- ------ SWEDEN -- (2.2%) Hexpol AB.............................. 2,994 265,260 0.4% Intrum Justitia AB..................... 9,133 271,996 0.4% Other Securities....................... 1,144,895 1.8% ----------- ------ TOTAL SWEDEN............................... 1,682,151 2.6% ----------- ------ SWITZERLAND -- (4.3%) * Dufry AG............................... 2,064 297,567 0.5% Georg Fischer AG....................... 418 241,426 0.4% Temenos Group AG....................... 7,137 249,177 0.4% Other Securities....................... 2,433,213 3.6% ----------- ------ TOTAL SWITZERLAND.......................... 3,221,383 4.9% ----------- ------ UNITED KINGDOM -- (17.9%) Ashtead Group P.L.C.................... 25,048 419,660 0.6% Berendsen P.L.C........................ 18,577 300,819 0.5% 20 INTERNATIONAL SMALL CAP GROWTH PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- UNITED KINGDOM -- (Continued) Britvic P.L.C..................... 26,890 $ 293,182 0.5% Cobham P.L.C...................... 69,733 325,282 0.5% Croda International P.L.C......... 16,454 604,953 0.9% Daily Mail & General Trust P.L.C.. 28,351 358,739 0.6% Essentra P.L.C.................... 25,268 278,205 0.4% G4S P.L.C......................... 65,120 266,552 0.4% Halma P.L.C....................... 41,161 410,701 0.6% Hays P.L.C........................ 146,138 288,623 0.4% Hikma Pharmaceuticals P.L.C....... 12,543 380,435 0.6% Howden Joinery Group P.L.C........ 67,878 372,422 0.6% IG Group Holdings P.L.C........... 39,385 379,571 0.6% Inmarsat P.L.C.................... 40,655 446,387 0.7% Rotork P.L.C...................... 9,409 385,688 0.6% Spirax-Sarco Engineering P.L.C.... 7,765 354,814 0.5% Stagecoach Group P.L.C............ 45,378 281,270 0.4% TalkTalk Telecom Group P.L.C...... 56,939 274,046 0.4% Telecity Group P.L.C.............. 21,710 268,095 0.4% * Thomas Cook Group P.L.C........... 154,567 307,954 0.5% UBM P.L.C......................... 26,277 239,524 0.4% WH Smith P.L.C.................... 13,431 242,494 0.4% Other Securities.................. 6,043,306 9.1% ----------- ------ TOTAL UNITED KINGDOM.................... 13,522,722 20.6% ----------- ------ UNITED STATES -- (0.0%) Other Securities.................. 21,850 0.0% ----------- ------ TOTAL COMMON STOCKS..................... 65,414,866 99.6% ----------- ------ RIGHTS/WARRANTS -- (0.0%) PORTUGAL -- (0.0%) Other Securities.................. -- 0.0% ----------- ------ SPAIN -- (0.0%) Other Securities.................. 683 0.0% ----------- ------ TOTAL RIGHTS/WARRANTS................... 683 0.0% ----------- ------ Value+ - ------ - SECURITIES LENDING COLLATERAL -- (13.2%) (S)@ DFA Short Term Investment Fund.... 857,741 9,924,067 15.1% ----------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $73,047,727).................. $75,339,616 114.7% =========== ====== 21 INTERNATIONAL SMALL CAP GROWTH PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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................... $ 31,548 $ 4,296,676 -- $ 4,328,224 Austria..................... -- 399,123 -- 399,123 Belgium..................... -- 588,709 -- 588,709 Canada...................... 6,758,110 -- -- 6,758,110 Denmark..................... -- 1,106,759 -- 1,106,759 Finland..................... -- 1,592,312 -- 1,592,312 France...................... -- 3,039,967 -- 3,039,967 Germany..................... -- 3,247,937 -- 3,247,937 Hong Kong................... 13,720 2,232,139 -- 2,245,859 Ireland..................... -- 390,570 -- 390,570 Israel...................... -- 427,176 -- 427,176 Italy....................... -- 2,112,435 -- 2,112,435 Japan....................... 36,679 15,074,358 -- 15,111,037 Netherlands................. -- 1,330,068 -- 1,330,068 New Zealand................. -- 668,883 -- 668,883 Norway...................... -- 885,733 -- 885,733 Portugal.................... -- 230,638 -- 230,638 Singapore................... -- 852,927 -- 852,927 Spain....................... -- 1,650,293 -- 1,650,293 Sweden...................... -- 1,682,151 -- 1,682,151 Switzerland................. -- 3,221,383 -- 3,221,383 United Kingdom.............. 16,828 13,505,894 -- 13,522,722 United States............... 21,850 -- -- 21,850 Rights/Warrants Portugal.................... -- -- -- -- Spain....................... -- 683 -- 683 Securities Lending Collateral. -- 9,924,067 -- 9,924,067 ---------- ----------- -- ----------- TOTAL......................... $6,878,735 $68,460,881 -- $75,339,616 ========== =========== == =========== See accompanying Notes to Financial Statements. 22 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2014 (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 $56,974, $50,819, $9,897 and $9,775 of securities on loan, respectively)............. $506,050 $181,109 $140,749 $65,416 Temporary Cash Investments at Value & Cost................... 2,557 1,381 -- -- Collateral from Securities on Loan Invested in Affiliate at Value & Cost................................................ 56,117 50,797 10,354 9,924 Foreign Currencies at Value.................................. -- -- 61 142 Receivables: Investment Securities Sold................................. -- 74 318 86 Dividends, Interest and Tax Reclaims....................... 627 37 263 135 Securities Lending Income.................................. 5 18 7 9 Fund Shares Sold........................................... 1,016 149 144 49 Prepaid Expenses and Other Assets............................ 22 18 15 16 -------- -------- -------- ------- Total Assets............................................ 566,394 233,583 151,911 75,777 -------- -------- -------- ------- LIABILITIES: Payables: Upon Return of Securities Loaned........................... 56,117 50,797 10,354 9,924 Investment Securities Purchased............................ 1,321 1,049 4 -- Fund Shares Redeemed....................................... 126 56 -- 3 Due to Advisor............................................. 52 48 19 11 Line of Credit............................................. -- -- 253 143 Accrued Expenses and Other Liabilities....................... 42 14 17 18 -------- -------- -------- ------- Total Liabilities....................................... 57,658 51,964 10,647 10,099 -------- -------- -------- ------- NET ASSETS................................................... $508,736 $181,619 $141,264 $65,678 ======== ======== ======== ======= NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: Institutional Class Shares -- based on net assets of $508,736; $181,619; $141,264 and $65,678 and shares outstanding of 35,554,234; 12,696,699; 12,089,700 and 5,481,343, respectively..................................... $ 14.31 $ 14.30 $ 11.68 $ 11.98 ======== ======== ======== ======= Investments at Cost.......................................... $443,730 $153,287 $140,497 $63,124 ======== ======== ======== ======= Foreign Currencies at Cost................................... $ -- $ -- $ 61 $ 143 ======== ======== ======== ======= NET ASSETS CONSIST OF: Paid-In Capital.............................................. $443,113 $152,791 $139,834 $62,567 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)................................... 893 92 286 178 Accumulated Net Realized Gain (Loss)......................... 2,410 914 901 647 Net Unrealized Foreign Exchange Gain (Loss).................. -- -- (9) (5) Net Unrealized Appreciation (Depreciation)................... 62,320 27,822 252 2,291 -------- -------- -------- ------- NET ASSETS................................................... $508,736 $181,619 $141,264 $65,678 ======== ======== ======== ======= ---------- * See Note I in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 23 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2014 (Amounts in thousands) International International U.S. Large U.S. Small Large Cap Small Cap Cap Growth Cap Growth Growth Growth Portfolio Portfolio Portfolio Portfolio ---------- ---------- ------------- ------------- Investment Income Dividends (Net of Foreign Taxes Withheld of $2, $0, $211 and $117, respectively).......................................... $ 6,146 $ 1,428 $ 2,378 $ 1,407 Interest...................................................... 1 -- -- -- Income from Securities Lending................................ 42 181 93 104 ------- ------- ------- ------- Total Investment Income.................................... 6,189 1,609 2,471 1,511 ------- ------- ------- ------- Fund Expenses Investment Advisory Services Fees............................. 557 529 214 297 Accounting & Transfer Agent Fees.............................. 22 11 18 17 Custodian Fees................................................ 8 8 34 54 Filing Fees................................................... 88 48 35 41 Shareholders' Reports......................................... 22 13 6 5 Directors'/Trustees' Fees & Expenses.......................... 2 1 1 -- Professional Fees............................................. 7 4 2 4 Organizational & Offering Costs............................... 5 5 5 5 Other......................................................... 4 4 2 3 ------- ------- ------- ------- Total Expenses............................................. 715 623 317 426 ------- ------- ------- ------- Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor (Note C).................... (61) (18) (61) (99) Fees Paid Indirectly.......................................... -- -- (1) -- ------- ------- ------- ------- Net Expenses.................................................. 654 605 255 327 ------- ------- ------- ------- Net Investment Income (Loss).................................. 5,535 1,004 2,216 1,184 ------- ------- ------- ------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold.................................. 2,516 945 968 755 Foreign Currency Transactions............................... -- -- (54) (28) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.................. 40,482 9,399 (4,283) (2,784) Translation of Foreign Currency Denominated Amounts......... -- -- (9) (6) ------- ------- ------- ------- Net Realized and Unrealized Gain (Loss)....................... 42,998 10,344 (3,378) (2,063) ------- ------- ------- ------- Net Increase (Decrease) in Net Assets Resulting from Operations..................................................... $48,533 $11,348 $(1,162) $ (879) ======= ======= ======= ======= See accompanying Notes to Financial Statements. 24 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, Year 2012(a) Year 2012(a) Year 2012(a) Year 2012(a) Ended to Ended to Ended to Ended to Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2014 2013 2014 2013 2014 2013 -------- -------- -------- -------- -------- -------- -------- -------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)................... $ 5,535 $ 1,381 $ 1,004 $ 379 $ 2,216 $ 533 $ 1,184 $ 509 Net Realized Gain (Loss) on: Investment Securities Sold.................... 2,516 (38) 945 898 968 (39) 755 (88) Futures....................................... -- 1 -- 20 -- -- -- -- Foreign Currency Transactions................. -- -- -- -- (54) (9) (28) (7) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.... 40,482 21,838 9,399 18,423 (4,283) 4,535 (2,784) 5,075 Translation of Foreign Currency Denominated Amounts...................................... -- -- -- -- (9) -- (6) 1 -------- -------- -------- -------- -------- ------- ------- ------- Net Increase (Decrease) in Net Assets Resulting from Operations.................. 48,533 23,182 11,348 19,720 (1,162) 5,020 (879) 5,490 -------- -------- -------- -------- -------- ------- ------- ------- Distributions From: Net Investment Income: Institutional Class Shares.................... (4,886) (991) (967) (304) (1,963) (382) (1,089) (361) Net Short-Term Gains: Institutional Class Shares.................... -- -- (910) -- -- -- -- -- Net Long-Term Gains: Institutional Class Shares.................... -- -- (19) -- -- -- -- -- -------- -------- -------- -------- -------- ------- ------- ------- Total Distributions......................... (4,886) (991) (1,896) (304) (1,963) (382) (1,089) (361) -------- -------- -------- -------- -------- ------- ------- ------- Capital Share Transactions (1): Shares Issued.................................. 280,736 220,963 67,425 108,051 109,094 42,798 29,828 39,725 Shares Issued in Lieu of Cash Distributions.... 4,860 986 1,891 304 1,932 381 1,079 360 Shares Redeemed................................ (44,411) (20,236) (18,783) (6,137) (13,345) (1,109) (7,535) (940) -------- -------- -------- -------- -------- ------- ------- ------- Net Increase (Decrease) from Capital Share Transactions......................... 241,185 201,713 50,533 102,218 97,681 42,070 23,372 39,145 -------- -------- -------- -------- -------- ------- ------- ------- Total Increase (Decrease) in Net Assets..... 284,832 223,904 59,985 121,634 94,556 46,708 21,404 44,274 Net Assets Beginning of Period............................ 223,904 -- 121,634 -- 46,708 -- 44,274 -- -------- -------- -------- -------- -------- ------- ------- ------- End of Period.................................. $508,736 $223,904 $181,619 $121,634 $141,264 $46,708 $65,678 $44,274 ======== ======== ======== ======== ======== ======= ======= ======= (1) Shares Issued and Redeemed: Shares Issued.................................. 20,661 19,482 4,890 9,497 9,096 4,020 2,378 3,673 Shares Issued in Lieu of Cash Distributions.... 359 84 138 24 158 35 84 33 Shares Redeemed................................ (3,289) (1,743) (1,360) (492) (1,120) (99) (605) (82) -------- -------- -------- -------- -------- ------- ------- ------- Net Increase (Decrease) from Shares Issued and Redeemed........................ 17,731 17,823 3,668 9,029 8,134 3,956 1,857 3,624 ======== ======== ======== ======== ======== ======= ======= ======= Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)......................................... $ 893 $ 398 $ 92 $ 83 $ 286 $ 151 $ 178 $ 149 ---------- Seepage 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 25 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (for a share outstanding throughout each period) U.S. Large Cap Growth Portfolio U.S. Small Cap Growth Portfolio ------------------------ ------------------------ Period Period Dec. 20, Dec. 20, Year 2012(a) Year 2012(a) Ended to Ended to Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2014 2013 ------------------------------------------------------------------------------------------------------------------ Net Asset Value, Beginning of Period.............. $ 12.56 $ 10.00 $ 13.47 $ 10.00 -------- -------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................. 0.23 0.16 0.09 0.07 Net Gains (Losses) on Securities (Realized and Unrealized).................................... 1.73 2.49 0.93 3.44 -------- -------- -------- -------- Total from Investment Operations............... 1.96 2.65 1.02 3.51 ------------------------------------------------------------------------------------------------------------------ Less Distributions ------------------ Net Investment Income............................ (0.21) (0.09) (0.09) (0.04) Net Realized Gains............................... -- -- (0.10) -- -------- -------- -------- -------- Total Distributions............................ (0.21) (0.09) (0.19) (0.04) ------------------------------------------------------------------------------------------------------------------ Net Asset Value, End of Period.................... $ 14.31 $ 12.56 $ 14.30 $ 13.47 ================================================= =========== =========== =========== =========== Total Return...................................... 15.70% 26.58%(D) 7.64% 35.17%(D) ------------------------------------------------------------------------------------------------------------------ Net Assets, End of Period (thousands)............. $508,736 $223,904 $181,619 $121,634 Ratio of Expenses to Average Net Assets........... 0.20% 0.20%(B)(C) 0.40% 0.40%(B)(C) Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor)......................................... 0.22% 0.28%(B)(C) 0.41% 0.49%(B)(C) Ratio of Net Investment Income to Average Net Assets........................................... 1.69% 1.59%(C) 0.66% 0.71%(C) Portfolio Turnover Rate........................... 8% 10%(D) 19% 25%(D) ------------------------------------------------------------------------------------------------------------------ See page 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 Large Cap International Small Cap Growth Portfolio Growth Portfolio ----------------- ----------------- Period Period Dec. 20, Dec. 20, Year 2012(a) Year 2012(a) Ended to Ended to Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2014 2013 2014 2013 ---------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period.............. $ 11.81 $ 10.00 $ 12.22 $ 10.00 -------- ------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................. 0.31 0.24 0.25 0.24 Net Gains (Losses) on Securities (Realized and Unrealized).................................... (0.16) 1.74 (0.26) 2.13 -------- ------- ------- ------- Total from Investment Operations............... 0.15 1.98 (0.01) 2.37 ---------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income............................ (0.28) (0.17) (0.23) (0.15) Net Realized Gains............................... -- -- -- -- -------- ------- ------- ------- Total Distributions............................ (0.28) (0.17) (0.23) (0.15) ---------------------------------------------------------------------------------------------------- Net Asset Value, End of Period.................... $ 11.68 $ 11.81 $ 11.98 $ 12.22 ================================================= ======== ======== ======== ======== Total Return...................................... 1.21% 19.98%(D) (0.18)% 23.83%(D) ---------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)............. $141,264 $46,708 $65,678 $44,274 Ratio of Expenses to Average Net Assets........... 0.30% 0.30%(B)(C) 0.55% 0.55%(B)(C) Ratio of Expenses to Average Net Assets (Excluding Fees (Waived), (Expenses Reimbursed), and/or Previously Waived Fees Recovered by Advisor and Fees Paid Indirectly)................ 0.37% 0.65%(B)(C) 0.72% 1.00%(B)(C) Ratio of Net Investment Income to Average Net Assets........................................... 2.59% 2.60%(C) 2.00% 2.50%(C) Portfolio Turnover Rate........................... 20% 3%(D) 29% 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-seven 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-three 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 ask prices which approximates 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, 2:00 a.m. ET), which is fourteen hours before the close of the NYSE (normally, 4:00 p.m. ET) 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 year ended October 31, 2014, there were no significant transfers between Level 1 and Level 2 and no significant 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. Contributions made under the Plan and the change in unrealized appreciation (depreciation) and income are included in Directors'/Trustees' Fees & Expenses. 29 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, 2014, 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 year ended October 31, 2014, 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 "Fee Waiver 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 Agreement for the Portfolios below will remain in effect through February 28, 2015, and may only be terminated by the Fund's Board of Directors prior to that date. The Fee Waiver Agreement shall continue in effect from year to year thereafter unless terminated by the Fund or the Advisor. For the year ended October 31, 2014, 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 30 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. Large Cap Growth Portfolio (1).......... 0.20% -- $131 U.S. Small Cap Growth Portfolio (1).......... 0.40% -- 67 International Large Cap Growth Portfolio (1). 0.30% -- 132 International Small Cap Growth Portfolio (1). 0.55% -- 190 (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 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 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 year ended October 31, 2014, expenses reduced were as follows (amounts in thousands): Fees Paid Indirectly ---------- International Large Cap Growth Portfolio. $ 1 International Small Cap Growth 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, 2014, the total related amounts paid by the Fund to the CCO were $262 (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, 2014, 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.......... $ 2 U.S. Small Cap Growth Portfolio.......... 1 International Large Cap Growth Portfolio. -- International Small Cap Growth Portfolio. -- 31 E. Purchases and Sales of Securities: For the year ended October 31, 2014, 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.......... $268,047 $25,815 U.S. Small Cap Growth Portfolio.......... 78,694 28,037 International Large Cap Growth Portfolio. 116,617 17,403 International Small Cap Growth Portfolio. 41,069 16,943 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, 2014, primarily attributable to net foreign currency gains/losses, non-deductible organizational costs, 90 day stock issuance expense, non-deductible excise tax and 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) --------------- -------------- -------------- U.S. Large Cap Growth Portfolio.......... $223 $(154) $(69) U.S. Small Cap Growth Portfolio.......... 48 (28) (20) International Large Cap Growth Portfolio. 92 (118) 26 International Small Cap Growth Portfolio. 58 (66) 8 32 The tax character of dividends and distributions declared and paid during the years ended October 31, 2013 and October 31, 2014 were as follows (amounts in thousands): Net Investment Income and Short-Term Long-Term Capital Gains Capital Gains Total -------------- ------------- ------ U.S. Large Cap Growth Portfolio 2013..................................... $ 991 -- $ 991 2014..................................... 4,886 -- 4,886 U.S. Small Cap Growth Portfolio 2013..................................... 304 -- 304 2014..................................... 1,876 $19 1,895 International Large Cap Growth Portfolio 2013..................................... 382 -- 382 2014..................................... 1,963 -- 1,963 International Small Cap Growth Portfolio 2013..................................... 361 -- 361 2014..................................... 1,089 -- 1,089 At October 31, 2014, 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. Large Cap Growth Portfolio.......... $168 $55 $223 U.S. Small Cap Growth Portfolio.......... 25 23 48 International Large Cap Growth Portfolio. 82 10 92 International Small Cap Growth Portfolio. 36 18 54 At October 31, 2014, 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. Large Cap Growth Portfolio.......... $1,391 $1,926 $62,309 $65,626 U.S. Small Cap Growth Portfolio.......... 92 914 27,821 28,827 International Large Cap Growth Portfolio. 855 332 243 1,430 International Small Cap Growth Portfolio. 229 598 2,286 3,113 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, 2014, the Portfolios did not have any capital loss carryforwards. 33 During the year ended October 31, 2014, the Portfolios utilized the following capital loss carryforwards to offset realized capital gains for federal income tax purposes (amounts in thousands): U.S. Large Cap Growth Portfolio.......... $26 International Small Cap Growth Portfolio. 87 International Large Cap Growth Portfolio. 40 At October 31, 2014, 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, as follows (amounts in thousands): Net Unrealized Federal Tax Unrealized Unrealized Appreciation Cost Appreciation Depreciation (Depreciation) ----------- ------------ ------------ -------------- U.S. Large Cap Growth Portfolio.......... $502,415 $69,813 $(7,504) $62,309 U.S. Small Cap Growth Portfolio.......... 205,465 33,579 (5,757) 27,822 International Large Cap Growth Portfolio. 150,851 7,269 (7,017) 252 International Small Cap Growth Portfolio. 73,048 6,823 (4,531) 2,292 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 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 fiscal period 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. 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. H. 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 agreement for the line of credit expires on March 2, 2015. 34 The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit 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 line of credit agreement expires on January 9, 2015. For the year ended October 31, 2014, 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 Cap Growth Portfolio.......... 0.85% $ 237 5 -- $ 298 U.S. Small Cap Growth Portfolio.......... 0.84% 1,116 10 -- 1,774 International Large Cap Growth Portfolio. 0.84% 218 26 -- 950 International Small Cap Growth Portfolio. 0.84% 159 34 -- 913 * Number of Days Outstanding represents the total of single or consecutive days during the year ended October 31, 2014, that each Portfolio's available line of credit was utilized. At October 31, 2014, International Large Cap Growth Portfolio and International Small Cap Growth Portfolio had loans outstanding in the amount of $253 and $143 (in thousands), respectively. I. Securities Lending: As of October 31, 2014, some of the Portfolios had securities on loan to brokers/dealers, for which each such Portfolio received cash collateral. In addition, U.S. Large Cap Growth Portfolio, U.S. Small Cap Growth Portfolio, International Large Cap Growth Portfolio and 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 $1,427, $69, $498 and $433 (in thousands), respectively. 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. In the event of the bankruptcy of the borrower, a Portfolio could experience delay in recovering the loaned securities or only recover cash or a security of equivalent value. 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. 35 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. Other: At October 31, 2014, 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 93% U.S. Small Cap Growth Portfolio.......... 3 97% International Large Cap Growth Portfolio. 3 97% International Small Cap Growth Portfolio. 3 97% L. 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. 36 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors of DFA Investment Dimensions Group Inc. and Shareholders of the Portfolios, as defined: 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. 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, 2014, the results of each of their operations for the year then ended and the changes in each of their net assets and the financial highlights for 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, 2014 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 19, 2014 37 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 Strategy Committee (the "Strategy 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, 2014. 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, 2014. Each Board's Strategy Committee consists of both interested and disinterested Trustees/Directors. The Strategy Committee is comprised of John P. Gould, Edward P. Lazear, Myron S. Scholes and Eduardo A. Repetto. The Strategy 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 Strategy 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 Strategy Committee was formed on December 17, 2010, and there were two Strategy Committee meetings held during the fiscal year ended October 31, 2014. 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. 38 Name, Position Portfolios within the DFA Principal Occupation(s) During Past 5 with the Fund, Address and Term of Office/1/ and Fund Complex/2/ Years and Other Directorships of Public Year of Birth Length of Service Overseen Companies Held ------------------------------------------------------------------------------------------------------------------------ Disinterested Trustees/Directors ------------------------------------------------------------------------------------------------------------------------ George M. Constantinides DFAIDG-Since 1983 108 portfolios in 4 Leo Melamed Professor of Finance, Director of DFAIDG and DIG. DIG-Since 1993 investment companies University of Chicago Booth School of Trustee of DFAITC and DEM. DFAITC-Since 1992 Business. The University of Chicago DEM-Since 1993 Booth School of Business 5807 S. Woodlawn Avenue Chicago, IL 60637 1947 ------------------------------------------------------------------------------------------------------------------------ John P. Gould DFAIDG-Since 1986 108 portfolios in 4 Steven G. Rothmeier Professor and Director of DFAIDG and DIG. DIG-Since 1993 investment companies Distinguished Service Professor of Trustee of DFAITC and DEM DFAITC-Since 1992 Economics, University of Chicago Booth The University of Chicago DEM-Since 1993 School of Business (since 1965). Member Booth School of Business and Chair, Competitive Markets Advisory 5807 S. Woodlawn Avenue Council, Chicago Mercantile Exchange Chicago, IL 60637 (futures trading exchange) (since 1939 2004). Trustee, Harbor Fund (registered investment company) (29 Portfolios) (since 1994). Formerly, Member of the Board of Milwaukee Insurance Company (1997-2010). ------------------------------------------------------------------------------------------------------------------------ Roger G. Ibbotson DFAIDG-Since 1981 108 portfolios in 4 Professor in Practice of Finance, Yale Director of DFAIDG and DIG. DIG-Since 1993 investment companies School of Management (since 1984). Trustee of DFAITC and DEM. DFAITC-Since 1992 Chairman, CIO and Partner, Zebra Yale School of Management DEM-Since 1993 Capital Management, LLC (hedge fund and P.O. Box 208200 asset manager) (since 2001). Consultant New Haven, CT 06520-8200 to Morningstar Inc. (since 2006). 1943 Formerly, Director, BIRR Portfolio Analysis, Inc. (software products) (1990-2010). ------------------------------------------------------------------------------------------------------------------------ Edward P. Lazear DFAIDG-Since 2010 108 portfolios in 4 Morris Arnold Cox Senior Fellow, Hoover Director of DFAIDG and DIG. DIG-Since 2010 investment companies Institution (since 2002). Jack Steele Trustee of DFAITC and DEM. DFAITC-Since 2010 Parker Professor of Human Resources Stanford University Graduate DEM-Since 2010 Management and Economics, Graduate School of Business School of Business, Stanford University 518 Memorial Way (since 1995). Cornerstone Research Stanford, CA 94305-5015 (expert testimony and economic and 1948 financial analysis) (since 2009). Formerly, 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 DFAIDG-Since 1981 108 portfolios in 4 Chief Investment Strategist, Janus Director of DFAIDG and DIG. DIG-Since 1993 investment companies Capital Group Inc. (since 2014). Frank Trustee of DFAITC and DEM. DFAITC-Since 1992 E. Buck Professor of Finance Emeritus, c/o Dimensional Fund DEM-Since 1993 Graduate School of Business, Stanford Advisors, LP University (since 1981). Chairman, 6300 Bee Cave Road Ruapay Inc. (since 2013). Formerly, Building 1 Chairman, Platinum Grove Asset Austin, TX 78746 Management, L.P. (hedge fund) 1941 (formerly, Oak Hill Platinum Partners) (1999-2009). Formerly, Director, American Century Fund Complex (registered investment companies) (43 Portfolios) (1980-2014). ------------------------------------------------------------------------------------------------------------------------ Abbie J. Smith DFAIDG-Since 2000 108 portfolios in 4 Boris and Irene Stern Distinguished Director of DFAIDG and DIG. DIG-Since 2000 investment companies Service Professor of Accounting, Trustee of DFAITC and DEM. DFAITC-Since 2000 University of Chicago Booth School of The University of Chicago DEM-Since 2000 Business (since 1980). Director, HNI Booth School of Business Corporation (formerly known as HON 5807 S. Woodlawn Industries Inc.) (office furniture) Avenue Chicago, IL 60637 (since 2000). Director, Ryder System 1953 Inc. (transportation, logistics and supply-chain management) (since 2003). Trustee, UBS Funds (4 investment companies within the fund complex) (33 portfolios) (since 2009). Formerly, Co-Director Investment Research, Fundamental Investment Advisors (hedge fund) (2008-2011). ------------------------------------------------------------------------------------------------------------------------ 39 Name, Position Portfolios within the with the Fund, Address Term of Office/1/ and DFA Fund Complex/2/ Principal Occupation(s) During Past 5 Years and and Year of Birth Length of Service Overseen Other Directorships of Public Companies Held -------------------------------------------------------------------------------------------------------------------------------- Interested Trustees/Directors* -------------------------------------------------------------------------------------------------------------------------------- David G. Booth DFAIDG-Since 1981 108 portfolios in 4 Chairman, Director/Trustee, President, Co-Chief Chairman, Director/Trustee, DIG-Since 1992 investment companies Executive Officer and formerly, Chief Executive President and Co-Chief DFAITC-Since 1992 Officer (until 1/1/2010) of the following companies: Executive Officer DEM-Since 1993 Dimensional Holdings Inc., Dimensional Fund 6300 Bee Cave Road, Advisors LP, DFA Securities LLC, DEM, DFAIDG, Building One DIG and DFAITC (collectively, the "DFA Entities"). Austin, TX 78746 Director of Dimensional Fund Advisors Ltd. and 1946 formerly, Chief Investment Officer. Director of DFA Australia Limited and formerly, President and Chief Investment Officer. Director of Dimensional Advisors Ltd., Dimensional Funds plc and Dimensional Funds II plc. Formerly, President, Dimensional SmartNest (US) LLC (2009-2014). Formerly, Limited Partner, Oak Hill Partners (2001- 2010). Limited Partner, VSC Investors, LLC (since 2007). Trustee, University of Chicago. Trustee, University of Kansas Endowment Association. Formerly, Director, SA Funds (registered investment company). Chairman, Director and Co- Chief Executive Officer of Dimensional Fund Advisors Canada ULC. Director and President (since 2012) of Dimensional Japan Ltd. Chairman, Director, President and Co-Chief Executive Officer of Dimensional Cayman Commodity Fund I Ltd. (since 2010). -------------------------------------------------------------------------------------------------------------------------------- Eduardo A. Repetto DFAIDG-Since 2009 108 portfolios in 4 Co-Chief Executive Officer (beginning January Director/Trustee, Co-Chief DIG-Since 2009 investment companies 2010), Co-Chief Investment Officer (since June Executive Officer and Co- DFAITC-Since 2009 2014), Director/Trustee, and formerly, Chief Chief Investment Officer DEM-Since 2009 Investment Officer (March 2007 - June 2014) of the 6300 Bee Cave Road, DFA Entities. Director, Co-Chief Executive Officer Building One and Chief Investment Officer (since 2010) of Austin, TX 78746 Dimensional Cayman Commodity Fund I Ltd. 1967 Director, Co-Chief Executive Officer, President and Co-Chief Investment Officer of Dimensional Fund Advisors Canada ULC and formerly, Chief Investment Officer (until April 2014). Co-Chief Investment Officer, Vice President, and Director of DFA Australia Limited and formerly, Chief Investment Officer (until April 2014). Director of Dimensional Fund Advisors Ltd., Dimensional Funds plc, Dimensional Funds II plc and Dimensional Advisors Ltd. Formerly, Vice President of the DFA Entities and Dimensional Fund Advisors Canada ULC. Director and Chief Investment Officer (since December 2012) of Dimensional Japan Ltd. /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 DFAIDG, DIG; DFAITC and DEM. Each disinterested Trustee/Director also serves on the Independent Review Committee of the Dimensional Funds, mutual funds registered in the provinces of Canada and managed by an affiliate of Dimensional Fund Advisors LP (the "Advisor"), Dimensional Fund Advisors Canada ULC. * 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 the Advisor. 40 Officers Below is the name, year of birth, information regarding positions with the Funds and the principal occupation for each officer of the Funds. The address of each officer is 6300 Bee Cave Road, Building One, Austin, TX 78746. Each of the officers listed below holds the same office (except as otherwise noted) in the DFA Entities. Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation(s) During Past 5 Years ---------------------------------------------------------------------------------------------------------------------- Officers ---------------------------------------------------------------------------------------------------------------------- April A. Aandal Vice President Since 2008 Vice President of all the DFA Entities. 1963 ---------------------------------------------------------------------------------------------------------------------- Robyn G. Alcorta Vice President Since 2012 Vice President of all the DFA Entities. Formerly, Vice 1974 President, Business Development at Capson Physicians Insurance Company (2010-2012); Vice President at Charles Schwab (2007-2010). ---------------------------------------------------------------------------------------------------------------------- Darryl D. Avery Vice President Since 2005 Vice President of all the DFA Entities. 1966 ---------------------------------------------------------------------------------------------------------------------- Arthur H. Barlow Vice President Since 1993 Vice President of all the DFA Entities. Director and 1955 Managing Director of Dimensional Fund Advisors Ltd (since September 2013). ---------------------------------------------------------------------------------------------------------------------- Peter Bergan Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Senior Infrastructure Manager for Dimensional Fund Advisors LP (January 2011-January 2014); Partner at Stonehouse Consulting (2010). ---------------------------------------------------------------------------------------------------------------------- Lana Bergstein Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Client Service Manager for Dimensional Fund Advisors LP (February 2008-January 2014). ---------------------------------------------------------------------------------------------------------------------- Stanley W. Black Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1970 Senior Research Associate (January 2012-January 2014) and Research Associate (2006-2011) for Dimensional Fund Advisors LP ---------------------------------------------------------------------------------------------------------------------- Aaron T. Borders Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1973 Regional Director for Dimensional Fund Advisors LP (April 2008-January 2014). ---------------------------------------------------------------------------------------------------------------------- Scott A. Bosworth Vice President Since 2007 Vice President of all the DFA Entities. 1968 ---------------------------------------------------------------------------------------------------------------------- Valerie A. Brown Vice President and Since 2001 Vice President and Assistant Secretary of all the 1967 Assistant Secretary DFA Entities, DFA Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Cayman Commodity Fund I Ltd., Dimensional Fund Advisors Pte. and Dimensional Hong Kong Limited. Director, Vice President and Assistant Secretary of Dimensional Fund Advisors Canada ULC. ---------------------------------------------------------------------------------------------------------------------- David P. Butler Vice President Since 2007 Vice President of all the DFA Entities. Head of 1964 Global Financial Services for Dimensional Fund Advisors LP (since 2008). ---------------------------------------------------------------------------------------------------------------------- Douglas M. Byrkit Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1970 Regional Director for Dimensional Fund Advisors LP (December 2010-January 2012); Regional Director at Russell Investments (April 2006-December 2010). ---------------------------------------------------------------------------------------------------------------------- Hunt M. Cairns Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1973 Regional Director (January 2010-January 2014) and Senior Associate (July 2008-December 2009) for Dimensional Fund Advisors LP. ---------------------------------------------------------------------------------------------------------------------- James G. Charles Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1956 Regional Director for Dimensional Fund Advisors LP (2008-2010). ---------------------------------------------------------------------------------------------------------------------- 41 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------------- Joseph H. Chi Vice President Since 2009 Vice President of all the DFA Entities. Co-Head of 1966 Portfolio Management (since March 2012) and Senior Portfolio Manager (since January 2012) for Dimensional Fund Advisors LP. Formerly, Portfolio Manager for Dimensional Fund Advisors LP (October 2005 to January 2012). ------------------------------------------------------------------------------------------------------------------------- Pil Sun Choi Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1972 Counsel for Dimensional Fund Advisors LP (April 2012 - January 2014); Vice President and Counsel for AllianceBernstein L.P. (2006-2012). ------------------------------------------------------------------------------------------------------------------------- Stephen A. Clark Vice President Since 2004 Vice President of all the DFA Entities, DFA Australia 1972 Limited and Dimensional Fund Advisors Canada ULC. Head of Global Institutional Services for Dimensional Fund Advisors LP (since January 2014). Formerly, Head of Institutional, North America (March 2012 to December 2013) and Head of Portfolio Management (January 2006 to March 2012) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- Matt B. Cobb Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (September 2011-March 2013); Vice President at MullinTBG (2005-2011). ------------------------------------------------------------------------------------------------------------------------- Rose C. Cooke Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (August 2010-March 2014); Vice President, Sales and Business Development at AdvisorsIG (PPMG) (2009-2010); Vice President at Credit Suisse (2007- 2009). ------------------------------------------------------------------------------------------------------------------------- Ryan Cooper Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1979 Regional Director for Dimensional Fund Advisors LP (2003-March 2014). ------------------------------------------------------------------------------------------------------------------------- Jeffrey D. Cornell Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1976 Regional Director for Dimensional Fund Advisors LP (August 2002-January 2012). ------------------------------------------------------------------------------------------------------------------------- Robert P. Cornell Vice President Since 2007 Vice President of all the DFA Entities. 1949 ------------------------------------------------------------------------------------------------------------------------- George H. Crane Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1955 Senior Vice President and Managing Director at State Street Bank & Trust Company (2007-2008). ------------------------------------------------------------------------------------------------------------------------- Christopher S. Crossan Vice President and Since 2004 Vice President and Chief Compliance Officer of all 1965 Global Chief the DFA Entities, DFA Australia Limited, and Compliance Officer Dimensional Fund Advisors Ltd. Chief Compliance Officer of Dimensional Fund Advisors Canada. Formerly, Vice President and Chief Compliance Officer for Dimensional SmartNest (US) LLC (October 2010- 2014). ------------------------------------------------------------------------------------------------------------------------- James L. Davis Vice President Since 1999 Vice President of all the DFA Entities. 1956 ------------------------------------------------------------------------------------------------------------------------- Robert T. Deere Vice President Since 1994 Vice President of all the DFA Entities, DFA Australia 1957 Limited and Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------------- Johnathon K. DeKinder Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1979 Regional Director (January 2012-January 2014) and Senior Associate (August 2010-December 2011) for Dimensional Fund Advisors LP; MBA and MPA at the University of Texas at Austin (August 2007-May 2010). ------------------------------------------------------------------------------------------------------------------------- Peter F. Dillard Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1972 Research Associate (August 2008-March 2010) and Research Assistant (April 2006-August 2008) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- 42 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ----------------------------------------------------------------------------------------------------------------------- Robert W. Dintzner Vice President Since 2001 Vice President of all the DFA Entities. 1970 ----------------------------------------------------------------------------------------------------------------------- Karen M. Dolan Vice President Since 2014 Vice President of all the DFA Entities. Head of 1979 Marketing for Dimensional Fund Advisors LP (since February 2013). Formerly, Senior Manager of Research and Marketing for Dimensional Fund Advisors LP (June 2012-January 2013); Director of Mutual Fund Analysis at Morningstar (January 2008- May 2012). ----------------------------------------------------------------------------------------------------------------------- Richard A. Eustice Vice President and Since 1998 Vice President and Assistant Secretary of all the 1965 Assistant Secretary DFA Entities and DFA Australia Limited. Chief Operating Officer for Dimensional Fund Advisors Pte. Ltd. (since April 2013). Formerly, Chief Operating Officer for Dimensional Fund Advisors Ltd. (July 2008-March 2013). ----------------------------------------------------------------------------------------------------------------------- Gretchen A. Flicker Vice President Since 2004 Vice President of all the DFA Entities. 1971 ----------------------------------------------------------------------------------------------------------------------- Jed S. Fogdall Vice President Since 2008 Vice President of all the DFA Entities. Co-Head of 1974 Portfolio Management (since March 2012) and Senior Portfolio Manager (since January 2012) for Dimensional Fund Advisors LP. Formerly, Portfolio Manager for Dimensional Fund Advisors LP (September 2004-January 2012). ----------------------------------------------------------------------------------------------------------------------- Edward A. Foley Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1976 Regional Director for Dimensional Fund Advisors LP (August 2011-January 2014); Senior Vice President of First Trust Advisors L.P. (2007-July 2011). ----------------------------------------------------------------------------------------------------------------------- Jeremy P. Freeman Vice President Since 2009 Vice President of all the DFA Entities. 1970 ----------------------------------------------------------------------------------------------------------------------- Mark R. Gochnour Vice President Since 2007 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Tom M. Goodrum Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1968 Managing Director at BlackRock (2004-January 2012). ----------------------------------------------------------------------------------------------------------------------- Henry F. Gray Vice President Since 2000 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- John T. Gray Vice President Since 2007 Vice President of all the DFA Entities. 1974 ----------------------------------------------------------------------------------------------------------------------- Christian Gunther Vice President Since 2011 Vice President of all the DFA Entities. Senior Trader 1975 for Dimensional Fund Advisors LP (since 2012). Formerly, Senior Trader (2009-2012). ----------------------------------------------------------------------------------------------------------------------- Robert W. Hawkins Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1974 Counsel for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President and Senior Counsel for State Street Global Advisors (November 2008-January 2011). ----------------------------------------------------------------------------------------------------------------------- Joel H. Hefner Vice President Since 2007 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Julie C. Henderson Vice President and Since 2005 Vice President and Fund Controller of all the DFA 1974 Fund Controller Entities, Dimensional Cayman Commodity Fund I Ltd. and Dimensional Japan Ltd. ----------------------------------------------------------------------------------------------------------------------- Kevin B. Hight Vice President Since 2005 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Christine W. Ho Vice President Since 2004 Vice President of all the DFA Entities. 1967 ----------------------------------------------------------------------------------------------------------------------- Michael C. Horvath Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1960 Managing Director, Co-Head Global Consultant Relations at BlackRock (2004-2011). ----------------------------------------------------------------------------------------------------------------------- 43 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years --------------------------------------------------------------------------------------------------------------------------- Jeff J. Jeon Vice President Since 2004 Vice President of all the DFA Entities and 1973 Dimensional Cayman Commodity Fund I Ltd. --------------------------------------------------------------------------------------------------------------------------- Garret D. Jones Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1971 Manager of Sales and Marketing Systems (January 2011-January 2014) and Project Manager (2007- 2010) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Stephen W. Jones Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1968 Facilities Manager for Dimensional Fund Advisors LP (October 2008-January 2012). --------------------------------------------------------------------------------------------------------------------------- David M. Kavanaugh Vice President Since 2014 Vice President of all the DFA Entities. Head of 1978 Operations for Financial Advisor Services for Dimensional Fund Advisors LP (since July 2014). Formerly, Counsel of Dimensional Fund Advisors LP (August 2011-January 2014); Associate at Andrews Kurth LLP (2006-2011). --------------------------------------------------------------------------------------------------------------------------- Patrick M. Keating Vice President and Since 2003 Vice President of all the DFA Entities, Dimensional 1954 Chief Operating Officer Cayman Commodity Fund I Ltd., Dimensional Japan Ltd. and Dimensional Advisors Ltd. Chief Operating Officer of Dimensional Holdings Inc., DFA Securities LLC, Dimensional Fund Advisors LP, Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan Ltd., Dimensional Advisors Ltd. And Dimensional Fund Advisors Pte. Ltd. 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 Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1977 Regional Director for Dimensional Fund Advisors LP (October 2004-January 2013). --------------------------------------------------------------------------------------------------------------------------- Glenn E. Kemp Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1948 Regional Director for Dimensional Fund Advisors LP (April 2006-January 2012). --------------------------------------------------------------------------------------------------------------------------- David M. Kershner Vice President Since 2010 Vice President of all the DFA Entities. Portfolio 1971 Manager for Dimensional Fund Advisors LP (since June 2004). --------------------------------------------------------------------------------------------------------------------------- Kimberly L. Kiser Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1972 Creative Director for Dimensional Fund Advisors LP (September 2012-January 2014); Vice President and Global Creative Director at Morgan Stanley (2007-2012); Visiting Assistant Professor, Graduate Communications Design at Pratt Institute (2004-2012). --------------------------------------------------------------------------------------------------------------------------- Timothy R. Kohn Vice President Since 2011 Vice President of all the DFA Entities. Head of 1971 Defined Contribution Sales for Dimensional Fund Advisors LP (since August 2010). --------------------------------------------------------------------------------------------------------------------------- Joseph F. Kolerich Vice President Since 2004 Vice President of all the DFA Entities. Senior 1971 Portfolio Manager of Dimensional Fund Advisors LP (since January 2012). Formerly, Portfolio Manager for Dimensional (April 2001-January 2012). --------------------------------------------------------------------------------------------------------------------------- Mark D. Krasniewski Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1981 Senior Associate, Investment Analytics and Data (January 2012-December 2012) and Systems Developer (June 2007-December 2011) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Kahne L. Krause Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1966 Regional Director (May 2010-January 2014) for Dimensional Fund Advisors LP. --------------------------------------------------------------------------------------------------------------------------- Stephen W. Kurad Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1968 Regional Director for Dimensional Fund Advisors LP (2007-2010). --------------------------------------------------------------------------------------------------------------------------- 44 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------------- Michael F. Lane Vice President Since 2004 Vice President of all the DFA Entities. Formerly, 1967 Chief Executive Officer for Dimensional SmartNest (US) LLC (July 2012-November 2014). ------------------------------------------------------------------------------------------------------------------------- Francis R. Lao Vice President Since 2011 Vice President of all the DFA Entities. Formerly, Vice 1969 President - Global Operations at Janus Capital Group (2005-2011). ------------------------------------------------------------------------------------------------------------------------- David F. LaRusso Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1978 Senior Trader (January 2010-December 2012) and Trader (2000-2009) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- Juliet H. Lee Vice President Since 2005 Vice President of all the DFA Entities. 1971 ------------------------------------------------------------------------------------------------------------------------- Marlena I. Lee Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1980 Research Associate for Dimensional Fund Advisors LP (July 2008-2010). ------------------------------------------------------------------------------------------------------------------------- John B. Lessley Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1960 Regional Director for Dimensional Fund Advisors LP (January 2008-January 2013). ------------------------------------------------------------------------------------------------------------------------- Apollo D. Lupescu Vice President Since 2009 Vice President of all the DFA Entities. 1969 ------------------------------------------------------------------------------------------------------------------------- Peter Magnusson Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1969 Regional Director for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President at Columbia Management (2004-2010). ------------------------------------------------------------------------------------------------------------------------- Kenneth M. Manell Vice President Since 2010 Vice President of all the DFA Entities and 1972 Dimensional Cayman Commodity Fund I Ltd. Formerly, Counsel for Dimensional Fund Advisors LP (September 2006-January 2010). ------------------------------------------------------------------------------------------------------------------------- Aaron M. Marcus Vice President Since 2008 Vice President of all DFA Entities and Head of 1970 Global Human Resources for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- David R. Martin Vice President, Chief Since 2007 Vice President, Chief Financial Officer and Treasurer 1956 Financial Officer and of all the DFA Entities. Director, Vice President, Treasurer Chief Financial Officer and Treasurer of Dimensional Fund Advisors Ltd., DFA Australia Limited, Dimensional Advisors Pte. Ltd., Dimensional Hong Kong Limited, Dimensional Fund Advisors Canada ULC, and Dimensional Cayman Commodity Fund I Ltd. Director of Dimensional Funds plc and Dimensional Funds II plc. Statutory Auditor of Dimensional Japan Ltd. Formerly, Chief Financial Officer, Treasurer and Vice President of Dimensional SmartNest (US) LLC (October 2010-November 2014). ------------------------------------------------------------------------------------------------------------------------- Bryan R. McClune Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1975 Regional Director of Dimensional Fund Advisors LP (January 2009-January 2014). ------------------------------------------------------------------------------------------------------------------------- Philip P. McInnis Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1984 Regional Director (January 2009-January 2014) and Senior Associate (2011) for Dimensional Fund Advisors LP; Investment Consultant (March 2010- December 2010) and Investment Analyst (December 2007-March 2010) at Towers Watson. ------------------------------------------------------------------------------------------------------------------------- Jonathan G. Nelson Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Manager, Investment Systems (2011-January 2013) and Project Manager (2007-2010) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------------- 45 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ----------------------------------------------------------------------------------------------------------------------------- Catherine L. Newell Vice President and Vice President since 1997 Vice President and Secretary of all the DFA Entities. 1964 Secretary and Secretary since 2000 Director, Vice President and Secretary 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 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). Director of 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). Formerly, Vice President and Secretary of Dimensional SmartNest (US) LLC (October 2010- November 2014). ----------------------------------------------------------------------------------------------------------------------------- Pamela B. Noble Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1964 Portfolio Manager for Dimensional Fund Advisors LP (2008-2010). ----------------------------------------------------------------------------------------------------------------------------- Selwyn Notelovitz Vice President and Since 2013 Vice President of all the DFA Entities. Deputy Chief 1961 Deputy Chief Compliance Officer of Dimensional Fund Advisors Compliance Officer LP (since December 2012). Formerly, Chief Compliance Officer of Wellington Management Company, LLP (2004-2011). ----------------------------------------------------------------------------------------------------------------------------- Carolyn L. O Vice President Since 2010 Vice President of all the DFA Entities and 1974 Dimensional Cayman Commodity Fund I Ltd. Deputy General Counsel, Funds (since 2011). Formerly, Counsel for Dimensional Fund Advisors LP (2007- 2010). ----------------------------------------------------------------------------------------------------------------------------- Gerard K. O'Reilly Vice President and Co- Vice President since 2007 Vice President and Co-Chief Investment Officer of all 1976 Chief Investment and Co-Chief Investment the DFA Entities and Dimensional Fund Advisors Officer Officer since 2014 Canada ULC. Director of Dimensional Funds plc and Dimensional Fund II plc. ----------------------------------------------------------------------------------------------------------------------------- Daniel C. Ong Vice President Since 2009 Vice President of all the DFA Entities. Portfolio 1973 Manager for Dimensional Fund Advisors LP (since July 2005). ----------------------------------------------------------------------------------------------------------------------------- Kyle K. Ozaki Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1978 Senior Compliance Officer (January 2008-January 2010) and Compliance Officer (February 2006- December 2007) for Dimensional Fund Advisors LP. ----------------------------------------------------------------------------------------------------------------------------- Matthew A. Pawlak Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1977 Regional Director for Dimensional Fund Advisors LP (2012-January 2013); Senior Consultant (June 2011- December 2011) and Senior Investment Analyst and Consultant (July 2008-June 2011) at Hewitt EnnisKnupp. ----------------------------------------------------------------------------------------------------------------------------- David A. Plecha Vice President Since 1993 Vice President of all the DFA Entities, DFA Australia 1961 Limited, Dimensional Fund Advisors Ltd. and Dimensional Fund Advisors Canada ULC. ----------------------------------------------------------------------------------------------------------------------------- Allen Pu Vice President Since 2011 Vice President of all the DFA Entities. Portfolio 1970 Manager for Dimensional Fund Advisors LP (since 2006). ----------------------------------------------------------------------------------------------------------------------------- Theodore W. Randall Vice President Since 2008 Vice President of all the DFA Entities. Formerly, 1973 Research Associate for Dimensional Fund Advisors LP (2006 to 2008). ----------------------------------------------------------------------------------------------------------------------------- David J. Rapozo Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1967 Regional Director for Dimensional Fund Advisors LP (January 2011-January 2014); Vice President at BlackRock (2009-2010). ----------------------------------------------------------------------------------------------------------------------------- Mark A. Regier Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1969 Planning and Analysis Manager for Dimensional Fund Advisors LP (July 2007-January 2014). ----------------------------------------------------------------------------------------------------------------------------- 46 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ------------------------------------------------------------------------------------------------------------------ Savina B. Rizova Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1981 Research Associate (June 2011-January 2012) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ L. Jacobo Rodriguez Vice President Since 2005 Vice President of all the DFA Entities. 1971 ------------------------------------------------------------------------------------------------------------------ Oliver J. Rowe Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1960 Senior Manager, Human Resources for Dimensional Fund Advisors LP (January 2012-January 2014); Director of Human Resources at Spansion, Inc. (March 2009-December 2011). ------------------------------------------------------------------------------------------------------------------ Julie A. Saft Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1959 Client Systems Manager for Dimensional Fund Advisors LP (July 2008-January 2010); Senior Manager at Vanguard (November 1997-July 2008). ------------------------------------------------------------------------------------------------------------------ Walid A. Shinnawi Vice President Since 2010 Vice President of all the DFA Entities. Formerly, 1961 Regional Director for Dimensional Fund Advisors LP (March 2006-January 2010). ------------------------------------------------------------------------------------------------------------------ Bruce A. Simmons Vice President Since 2009 Vice President of all the DFA Entities. Formerly, 1965 Investment Operations Manager for Dimensional Fund Advisors LP (May 2007-January 2009). ------------------------------------------------------------------------------------------------------------------ Ted R. Simpson Vice President Since 2007 Vice President of all the DFA Entities. 1968 ------------------------------------------------------------------------------------------------------------------ Bhanu P. Singh Vice President Since 2014 Vice President of all the DFA Entities. Portfolio 1981 Manager for Dimensional Fund Advisors LP (since January 2012). Formerly, Investment Associate for Dimensional Fund Advisors LP (August 2010- December 2011). ------------------------------------------------------------------------------------------------------------------ Bryce D. Skaff Vice President Since 2007 Vice President of all the DFA Entities. 1975 ------------------------------------------------------------------------------------------------------------------ Lukas J. Smart Vice President Since 2014 Vice President of all the DFA Entities. Portfolio 1977 Manager of Dimensional Fund Advisors LP (since January 2010). ------------------------------------------------------------------------------------------------------------------ Andrew D. Smith Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1968 Project Manager for Dimensional Fund Advisors LP (2007-2010). ------------------------------------------------------------------------------------------------------------------ Grady M. Smith Vice President Since 2004 Vice President of all the DFA Entities and 1956 Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------ Carl G. Snyder Vice President Since 2000 Vice President of all the DFA Entities. 1963 ------------------------------------------------------------------------------------------------------------------ Lawrence R. Spieth Vice President Since 2004 Vice President of all the DFA Entities. 1947 ------------------------------------------------------------------------------------------------------------------ Richard H. Tatlow V Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1971 Regional Director for Dimensional Fund Advisors LP (April 2010-January 2013). ------------------------------------------------------------------------------------------------------------------ Blake T. Tatsuta Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1973 Manager, Investment Analytics and Data (2012- January 2013) and Research Assistant (2002-2011) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ Erik T. Totten Vice President Since 2013 Vice President of all the DFA Entities. Formerly, 1980 Regional Director (2010-January 2013) and Senior Associate (2007-2009) for Dimensional Fund Advisors LP. ------------------------------------------------------------------------------------------------------------------ John H. Totten Vice President Since 2012 Vice President of all the DFA Entities. Formerly, 1978 Regional Director for Dimensional Fund Advisors LP (January 2008-January 2012). ------------------------------------------------------------------------------------------------------------------ Robert C. Trotter Vice President Since 2009 Vice President of all the DFA Entities. 1958 ------------------------------------------------------------------------------------------------------------------ Karen E. Umland Vice President Since 1997 Vice President of all the DFA Entities, DFA Australia 1966 Limited, Dimensional Fund Advisors Ltd., and Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------ 47 Name and Year of Term of Office/1/ and Birth Position Length of Service Principal Occupation During Past 5 Years ---------------------------------------------------------------------------------------------------------------- Benjamin C. Walker Vice President Since 2014 Vice President of all the DFA Entities. Formerly, 1979 Regional Director for Dimensional Fund Advisors LP (September 2008-January 2014). ---------------------------------------------------------------------------------------------------------------- Brian J. Walsh Vice President Since 2009 Vice President of all the DFA Entities. Portfolio 1970 Manager for Dimensional Fund Advisors LP (since 2004). ---------------------------------------------------------------------------------------------------------------- Weston J. Wellington Vice President Since 1997 Vice President of all the DFA Entities. 1951 ---------------------------------------------------------------------------------------------------------------- Ryan J. Wiley Vice President Since 2007 Vice President of all the DFA Entities. 1976 ---------------------------------------------------------------------------------------------------------------- Paul E. Wise Vice President Since 2005 Vice President of all the DFA Entities. 1955 ---------------------------------------------------------------------------------------------------------------- Joseph L. Young Vice President Since 2011 Vice President of all the DFA Entities. Formerly, 1978 Regional Director for Dimensional Fund Advisors LP (2005-2010). ---------------------------------------------------------------------------------------------------------------- /1/ Each officer holds office for an indefinite term at the pleasure of the Board of Directors and until his or her successor is elected and qualified. 48 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://us.dimensional.com and reflects the twelve-month period beginning July 1st and ending June 30th. 49 NOTICE TO SHAREHOLDERS (Unaudited) For shareholders that do not have an October 31, 2014 tax year end, this notice is for informational purposes only. For shareholders with an October 31, 2014 tax year end, please consult your tax advisor as to the pertinence of this notice. For the fiscal year November 1, 2013 to October 31, 2014, 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) ------------------------------------ ------------- ------------- ------------- ------------- ------------ ---------- US Large Cap Growth Portfolio............ 99% -- 1% 100% 100% 100% US Small Cap Growth Portfolio............ 51% 47% 2% 100% 100% 100% International Large Cap Growth Portfolio. 99% 1% -- 100% 100% 100% International Small Cap Growth Portfolio. 98% -- 2% 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) ------------------------------------ --------- --------- ---------- ---------- US Large Cap Growth Portfolio............ -- -- 100% 100% US Small Cap Growth Portfolio............ -- -- 100% 100% International Large Cap Growth Portfolio. 5% 100% 100% 100% International Small Cap Growth Portfolio. 5% 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. (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). 50 [LOGO] DFA103114-041A 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, 2014: $1,515,544 Fiscal Year Ended October 31, 2013: $1,448,699 (b)Audit-Related Fees Fees for Registrant Fiscal Year Ended October 31, 2014: $123,244 Fiscal Year Ended October 31, 2013: $116,948 For fiscal years ended October 31, 2014 and October 31, 2013, 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, 2014: $165,000 Fiscal Year Ended October 31, 2013: $155,000 For the fiscal years ended October 31, 2014 and October 31, 2013, 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, 2014: $658,862 Fiscal Year Ended October 31, 2013: $640,381 Tax Fees included, for the fiscal years ended October 31, 2014 and October 31, 2013, 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, 2014: $0 Fiscal Year Ended October 31, 2013: $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, 2014 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, 2014: $2,990,464 Fiscal Year Ended October 31, 2013: $2,782,732 (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 OF RELATIONSHIP TO SERIES OF THE 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 OF RELATIONSHIP TO SERIES OF THE 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 Securities Portfolio................ Series of Registrant DFA International Small Cap Value Portfolio........................... Series of Registrant 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 Portfolio........................... Series of Registrant NAME OF ENTITY FOR WHICH SCHEDULE OF RELATIONSHIP TO SERIES OF THE INVESTMENTS IS PROVIDED REGISTRANT DFA International Value ex Tobacco Portfolio........................... Series of Registrant International Social Core Equity Portfolio........................... Series of Registrant Emerging Markets Social Core Equity Portfolio........................... Series of Registrant Tax-Managed U.S. Equity Portfolio..... Series of Registrant Tax-Managed U.S. Targeted Value Portfolio........................... Series of Registrant 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 Portfolio........................... Series of Registrant T.A. World ex U.S. Core Equity Portfolio........................... Series of Registrant 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 Portfolio........................... Series of Registrant CSTG&E International Social Core Equity Portfolio.................... Series of Registrant 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 Portfolio........................... Series of Registrant International Small Cap Growth Portfolio........................... Series of Registrant U.S. LARGE CAP EQUITY PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2014 PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- --------------------- ------------------- COMMON STOCKS -- (96.1%) Consumer Discretionary -- (13.1%) # Abercrombie & Fitch Co. Class A 1,639 $ 54,874 0.0% Advance Auto Parts, Inc. 929 136,526 0.1% * Amazon.com, Inc. 4,446 1,358,075 0.5% * AMC Networks, Inc. Class A 730 44,275 0.0% * Apollo Education Group, Inc. Class A 1,705 48,865 0.0% #* Ascena Retail Group, Inc. 3,200 39,840 0.0% # Autoliv, Inc. 2,052 188,250 0.1% * AutoNation, Inc. 3,500 200,410 0.1% * Bed Bath & Beyond, Inc. 4,446 299,394 0.1% Best Buy Co., Inc. 10,994 375,335 0.1% BorgWarner, Inc. 3,859 220,040 0.1% Brunswick Corp. 1,850 86,580 0.0% # Burger King Worldwide, Inc. 744 24,314 0.0% #* Cabela's, Inc. 1,921 92,246 0.0% # Cablevision Systems Corp. Class A 2,951 54,948 0.0% #* CarMax, Inc. 3,544 198,145 0.1% Carnival Corp. 3,680 147,752 0.1% Carter's, Inc. 1,541 120,398 0.0% CBS Corp. Class B 7,570 410,445 0.2% #* Charter Communications, Inc. Class A 1,285 203,531 0.1% * Chipotle Mexican Grill, Inc. 320 204,160 0.1% # Cinemark Holdings, Inc. 2,673 94,410 0.0% Coach, Inc. 2,269 78,008 0.0% Comcast Corp. Class A 36,774 2,035,441 0.7% Comcast Corp. Special Class A 6,932 382,230 0.1% Dana Holding Corp. 3,382 69,196 0.0% # Darden Restaurants, Inc. 2,603 134,783 0.1% Delphi Automotive P.L.C. 3,632 250,535 0.1% Dick's Sporting Goods, Inc. 2,688 121,955 0.0% Dillard's, Inc. Class A 1,478 156,313 0.1% * DIRECTV 3,398 294,912 0.1% * Discovery Communications, Inc. 4,146 145,069 0.1% * Discovery Communications, Inc. Class A 1,830 64,691 0.0% * DISH Network Corp. Class A 2,623 166,954 0.1% * Dollar General Corp. 5,666 355,088 0.1% * Dollar Tree, Inc. 2,283 138,281 0.1% DR Horton, Inc. 5,627 128,239 0.0% DSW, Inc. Class A 1,114 33,030 0.0% # Dunkin' Brands Group, Inc. 2,937 133,575 0.1% Expedia, Inc. 1,912 162,463 0.1% Family Dollar Stores, Inc. 1,227 96,062 0.0% Foot Locker, Inc. 3,128 175,199 0.1% Ford Motor Co. 61,312 863,886 0.3% * Fossil Group, Inc. 1,391 141,409 0.1% # GameStop Corp. Class A 4,545 194,344 0.1% Gannett Co., Inc. 4,493 141,529 0.1% Gap, Inc. (The) 4,530 171,642 0.1% # Garmin, Ltd. 2,357 130,766 0.1% General Motors Co. 15,377 482,838 0.2% Gentex Corp. 3,957 129,552 0.1% Genuine Parts Co. 2,201 213,673 0.1% U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- --------------------- ------------------- Consumer Discretionary -- (Continued) GNC Holdings, Inc. Class A 2,069 $ 86,008 0.0% Goodyear Tire & Rubber Co. (The) 5,894 142,812 0.1% Graham Holdings Co. Class B 108 84,629 0.0% #* Groupon, Inc. 6,789 49,628 0.0% H&R Block, Inc. 3,030 97,899 0.0% Hanesbrands, Inc. 1,142 120,607 0.0% Harley-Davidson, Inc. 4,508 296,176 0.1% Harman International Industries, Inc. 851 91,346 0.0% # Hasbro, Inc. 1,280 73,638 0.0% Home Depot, Inc. (The) 17,150 1,672,468 0.6% * Hyatt Hotels Corp. Class A 518 30,676 0.0% International Game Technology 5,685 93,177 0.0% Interpublic Group of Cos., Inc. (The) 7,034 136,389 0.1% Johnson Controls, Inc. 11,014 520,411 0.2% * Kate Spade & Co. 1,751 47,505 0.0% Kohl's Corp. 6,241 338,387 0.1% L Brands, Inc. 2,500 180,300 0.1% # Lamar Advertising Co. Class A 1,414 73,033 0.0% #* Lands' End, Inc. 436 20,697 0.0% Las Vegas Sands Corp. 4,376 272,450 0.1% Lear Corp. 2,060 190,550 0.1% # Leggett & Platt, Inc. 2,937 115,659 0.0% # Lennar Corp. Class A 2,884 124,243 0.0% #* Liberty Global P.L.C. Class A 4,183 190,201 0.1% * Liberty Global P.L.C. Class C 9,679 430,425 0.2% * Liberty Interactive Corp. Class A 9,036 236,201 0.1% * Liberty Media Corp. 3,548 170,056 0.1% * Liberty Media Corp. Class A 1,474 70,781 0.0% * Liberty TripAdvisor Holdings, Inc. Class A 1,306 41,243 0.0% * Liberty Ventures Series A 3,302 115,900 0.0% # Lions Gate Entertainment Corp. 2,291 75,901 0.0% * Live Nation Entertainment, Inc. 6,386 166,036 0.1% * LKQ Corp. 4,101 117,166 0.0% Lowe's Cos., Inc. 12,381 708,193 0.3% #* Lululemon Athletica, Inc. 970 40,401 0.0% Macy's, Inc. 5,228 302,283 0.1% * Madison Square Garden Co. (The) Class A 1,252 94,852 0.0% Marriott International, Inc. Class A 2,272 172,104 0.1% Mattel, Inc. 6,275 194,964 0.1% McDonald's Corp. 11,845 1,110,232 0.4% * MGM Resorts International 13,350 310,387 0.1% * Michael Kors Holdings, Ltd. 2,261 177,692 0.1% * Mohawk Industries, Inc. 1,173 166,613 0.1% Morningstar, Inc. 688 46,956 0.0% * Murphy USA, Inc. 641 36,729 0.0% * Netflix, Inc. 374 146,896 0.1% # Newell Rubbermaid, Inc. 2,984 99,457 0.0% * News Corp. Class A 6,500 100,620 0.0% #* News Corp. Class B 2,243 33,757 0.0% NIKE, Inc. Class B 7,591 705,735 0.3% Nordstrom, Inc. 2,437 176,951 0.1% * Norwegian Cruise Line Holdings, Ltd. 3,599 140,361 0.1% U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- --------------------- ------------------- Consumer Discretionary -- (Continued) * NVR, Inc. 85 $ 104,344 0.0% * O'Reilly Automotive, Inc. 1,249 219,674 0.1% Omnicom Group, Inc. 3,307 237,641 0.1% #* Panera Bread Co. Class A 502 81,143 0.0% * Penn National Gaming, Inc. 1,617 21,167 0.0% Penske Automotive Group, Inc. 2,667 120,655 0.0% PetSmart, Inc. 1,213 87,761 0.0% Polaris Industries, Inc. 805 121,442 0.0% * Priceline Group, Inc. (The) 446 537,970 0.2% PulteGroup, Inc. 6,687 128,324 0.0% PVH Corp. 1,295 148,083 0.1% Ralph Lauren Corp. 983 162,038 0.1% Ross Stores, Inc. 2,375 191,710 0.1% Royal Caribbean Cruises, Ltd. 3,980 270,521 0.1% * Sally Beauty Holdings, Inc. 2,951 86,494 0.0% Scripps Networks Interactive, Inc. Class A 1,242 95,932 0.0% #* Sears Holdings Corp. 1,850 64,602 0.0% Service Corp. International 7,095 155,168 0.1% Signet Jewelers, Ltd. 1,055 126,611 0.0% # Sinclair Broadcast Group, Inc. Class A 1,610 46,771 0.0% #* Sirius XM Holdings, Inc. 33,326 114,308 0.0% Six Flags Entertainment Corp. 1,474 59,402 0.0% # Sotheby's 898 35,615 0.0% # Staples, Inc. 13,503 171,218 0.1% Starbucks Corp. 9,075 685,707 0.3% Starwood Hotels & Resorts Worldwide, Inc. 1,898 145,501 0.1% * Starz 1,278 39,490 0.0% Target Corp. 8,827 545,685 0.2% * Tenneco, Inc. 1,040 54,454 0.0% #* Tesla Motors, Inc. 502 121,333 0.0% Tiffany & Co. 1,368 131,492 0.1% Time Warner Cable, Inc. 3,035 446,782 0.2% Time Warner, Inc. 10,265 815,760 0.3% * Time, Inc. 1,024 23,132 0.0% TJX Cos., Inc. (The) 8,027 508,270 0.2% * Toll Brothers, Inc. 2,136 68,245 0.0% Tractor Supply Co. 1,325 97,017 0.0% * TripAdvisor, Inc. 1,219 108,077 0.0% * TRW Automotive Holdings Corp. 2,980 302,023 0.1% Tupperware Brands Corp. 916 58,395 0.0% Twenty-First Century Fox, Inc. Class A 15,826 545,680 0.2% Twenty-First Century Fox, Inc. Class B 4,560 151,255 0.1% * Ulta Salon Cosmetics & Fragrance, Inc. 1,224 147,871 0.1% #* Under Armour, Inc. Class A 1,577 103,420 0.0% * Urban Outfitters, Inc. 3,581 108,719 0.0% VF Corp. 3,222 218,065 0.1% Viacom, Inc. Class A 134 9,790 0.0% Viacom, Inc. Class B 4,526 328,950 0.1% * Visteon Corp. 1,508 141,601 0.1% Walt Disney Co. (The) 18,805 1,718,401 0.6% Wendy's Co. (The) 5,283 42,370 0.0% Whirlpool Corp. 2,037 350,466 0.1% U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- --------------------- ------------------- Consumer Discretionary -- (Continued) Williams-Sonoma, Inc. 1,395 $ 90,717 0.0% Wyndham Worldwide Corp. 2,867 222,680 0.1% Wynn Resorts, Ltd. 1,086 206,351 0.1% Yum! Brands, Inc. 5,619 403,613 0.1% --------------------- ------------------ Total Consumer Discretionary 35,762,163 13.0% --------------------- ------------------ Consumer Staples -- (8.2%) Altria Group, Inc. 24,603 1,189,309 0.4% Archer-Daniels-Midland Co. 6,338 297,886 0.1% Avon Products, Inc. 6,093 63,367 0.0% Brown-Forman Corp. Class A 358 32,539 0.0% Brown-Forman Corp. Class B 1,457 135,020 0.0% Bunge, Ltd. 2,528 224,107 0.1% # Campbell Soup Co. 3,580 158,129 0.1% Church & Dwight Co., Inc. 2,105 152,423 0.1% Clorox Co. (The) 1,359 135,221 0.1% Coca-Cola Co. (The) 42,618 1,784,842 0.6% Coca-Cola Enterprises, Inc. 5,275 228,671 0.1% Colgate-Palmolive Co. 11,211 749,792 0.3% ConAgra Foods, Inc. 9,309 319,764 0.1% * Constellation Brands, Inc. Class A 3,222 294,942 0.1% Costco Wholesale Corp. 4,243 565,889 0.2% CVS Health Corp. 13,994 1,200,825 0.4% Dr Pepper Snapple Group, Inc. 3,550 245,838 0.1% Energizer Holdings, Inc. 1,296 158,954 0.1% Estee Lauder Cos., Inc. (The) Class A 2,786 209,451 0.1% Flowers Foods, Inc. 4,765 90,535 0.0% General Mills, Inc. 6,465 335,921 0.1% * Hain Celestial Group, Inc. (The) 885 95,801 0.0% # Herbalife, Ltd. 1,227 64,368 0.0% Hershey Co. (The) 1,898 182,037 0.1% Hormel Foods Corp. 2,840 153,104 0.1% Ingredion, Inc. 2,442 188,645 0.1% JM Smucker Co. (The) 2,115 219,960 0.1% Kellogg Co. 3,381 216,249 0.1% Keurig Green Mountain, Inc. 1,879 285,138 0.1% Kimberly-Clark Corp. 4,496 513,758 0.2% Kraft Foods Group, Inc. 7,479 421,442 0.2% Kroger Co. (The) 6,091 339,330 0.1% Lorillard, Inc. 2,666 163,959 0.1% # McCormick & Co., Inc. 1,413 99,927 0.0% Mead Johnson Nutrition Co. 2,472 245,494 0.1% Molson Coors Brewing Co. Class B 2,917 216,966 0.1% Mondelez International, Inc. Class A 16,023 564,971 0.2% * Monster Beverage Corp. 1,809 182,492 0.1% # Nu Skin Enterprises, Inc. Class A 695 36,717 0.0% PepsiCo, Inc. 19,005 1,827,711 0.7% Philip Morris International, Inc. 14,261 1,269,372 0.5% #* Pilgrim's Pride Corp. 4,150 117,902 0.0% Pinnacle Foods, Inc. 364 12,303 0.0% # Pricesmart, Inc. 408 36,324 0.0% Procter & Gamble Co. (The) 27,067 2,362,137 0.9% U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- --------------------- ------------------- Consumer Staples -- (Continued) Reynolds American, Inc. 3,865 $ 243,147 0.1% * Rite Aid Corp. 10,428 54,747 0.0% Safeway, Inc. 6,868 239,419 0.1% * Seaboard Corp. 4 12,291 0.0% Spectrum Brands Holdings, Inc. 1,244 112,694 0.0% * Sprouts Farmers Market, Inc. 2,291 66,691 0.0% Sysco Corp. 6,489 250,086 0.1% Tyson Foods, Inc. Class A 7,393 298,308 0.1% * United Natural Foods, Inc. 743 50,539 0.0% Wal-Mart Stores, Inc. 22,938 1,749,481 0.6% Walgreen Co. 10,263 659,090 0.2% * WhiteWave Foods Co. (The) Class A 2,379 88,570 0.0% Whole Foods Market, Inc. 2,570 101,078 0.0% --------------------- ------------------ Total Consumer Staples 22,315,673 8.1% --------------------- ------------------ Energy -- (10.1%) Anadarko Petroleum Corp. 8,692 797,752 0.3% Apache Corp. 5,166 398,815 0.2% * Athlon Energy, Inc. 1,138 66,345 0.0% * Atwood Oceanics, Inc. 1,717 69,796 0.0% Baker Hughes, Inc. 4,610 244,146 0.1% Cabot Oil & Gas Corp. 6,518 202,710 0.1% * Cameron International Corp. 5,227 311,268 0.1% * Cheniere Energy, Inc. 2,170 162,750 0.1% Chesapeake Energy Corp. 20,207 448,191 0.2% Chevron Corp. 23,416 2,808,749 1.0% Cimarex Energy Co. 2,550 289,858 0.1% * Cobalt International Energy, Inc. 3,812 44,639 0.0% * Concho Resources, Inc. 2,963 323,056 0.1% ConocoPhillips 18,400 1,327,560 0.5% CONSOL Energy, Inc. 3,517 129,426 0.1% #* Continental Resources, Inc. 1,077 60,710 0.0% Core Laboratories NV 396 55,254 0.0% # CVR Energy, Inc. 1,572 76,368 0.0% Denbury Resources, Inc. 9,354 115,990 0.0% Devon Energy Corp. 4,993 299,580 0.1% # Diamond Offshore Drilling, Inc. 3,393 127,950 0.1% * Diamondback Energy, Inc. 1,132 77,474 0.0% * Dresser-Rand Group, Inc. 1,357 110,867 0.0% * Dril-Quip, Inc. 845 76,008 0.0% Energen Corp. 1,250 84,625 0.0% EnLink Midstream LLC 1,816 68,826 0.0% EOG Resources, Inc. 10,565 1,004,203 0.4% EQT Corp. 1,198 112,660 0.0% Exxon Mobil Corp. 62,574 6,051,532 2.2% * FMC Technologies, Inc. 2,849 159,658 0.1% * Gulfport Energy Corp. 1,772 88,919 0.0% Halliburton Co. 11,432 630,360 0.2% Helmerich & Payne, Inc. 2,807 243,704 0.1% Hess Corp. 3,251 275,717 0.1% HollyFrontier Corp. 3,631 164,775 0.1% Kinder Morgan, Inc. 12,686 490,948 0.2% U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- --------------------- ------------------- Energy -- (Continued) * Kosmos Energy, Ltd. 5,012 $ 46,762 0.0% #* Laredo Petroleum Holdings, Inc. 2,647 50,187 0.0% # LinnCo LLC 2,321 55,634 0.0% Marathon Oil Corp. 10,590 374,886 0.1% Marathon Petroleum Corp. 4,617 419,685 0.2% Murphy Oil Corp. 1,527 81,527 0.0% Nabors Industries, Ltd. 6,763 120,720 0.1% National Oilwell Varco, Inc. 4,807 349,180 0.1% * Newfield Exploration Co. 5,574 181,768 0.1% # Noble Corp. P.L.C. 4,704 98,408 0.0% Noble Energy, Inc. 4,677 269,535 0.1% * Oasis Petroleum, Inc. 4,231 126,761 0.1% Occidental Petroleum Corp. 11,668 1,037,635 0.4% Oceaneering International, Inc. 2,423 170,264 0.1% * Oil States International, Inc. 1,445 86,324 0.0% ONEOK, Inc. 3,498 206,172 0.1% #* Paragon Offshore P.L.C. 1,568 7,636 0.0% Patterson-UTI Energy, Inc. 4,601 105,961 0.0% # Peabody Energy Corp. 4,708 49,104 0.0% Phillips 66 5,008 393,128 0.2% Pioneer Natural Resources Co. 1,536 290,396 0.1% QEP Resources, Inc. 7,044 176,593 0.1% Range Resources Corp. 2,049 140,152 0.1% Rowan Cos. P.L.C. Class A 2,040 49,511 0.0% RPC, Inc. 3,262 53,497 0.0% Schlumberger, Ltd. 14,816 1,461,747 0.5% * Seventy Seven Energy, Inc. 925 12,090 0.0% SM Energy Co. 3,000 168,900 0.1% * Southwestern Energy Co. 11,784 383,098 0.1% Spectra Energy Corp. 6,366 249,102 0.1% Superior Energy Services, Inc. 3,836 96,475 0.0% Targa Resources Corp. 889 114,352 0.0% Teekay Corp. 1,975 115,458 0.0% Tesoro Corp. 2,810 200,662 0.1% # Transocean, Ltd. 5,658 168,778 0.1% #* Ultra Petroleum Corp. 2,722 62,062 0.0% Valero Energy Corp. 6,438 322,479 0.1% * Weatherford International P.L.C. 17,414 285,938 0.1% Western Refining, Inc. 4,357 198,636 0.1% * Whiting Petroleum Corp. 3,570 218,627 0.1% Williams Cos., Inc. (The) 7,047 391,179 0.2% * WPX Energy, Inc. 4,350 83,172 0.0% --------------------- ------------------ Total Energy 27,475,370 10.0% --------------------- ------------------ Financials -- (12.8%) ACE, Ltd. 2,945 321,889 0.1% * Affiliated Managers Group, Inc. 942 188,202 0.1% Aflac, Inc. 5,583 333,473 0.1% * Alleghany Corp. 208 92,410 0.0% Allied World Assurance Co. Holdings AG 2,182 82,916 0.0% Allstate Corp. (The) 5,252 340,592 0.1% #* Altisource Portfolio Solutions SA 400 29,864 0.0% U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- --------------------- ------------------- Financials -- (Continued) American Express Co. 11,888 $ 1,069,326 0.4% American Financial Group, Inc. 2,000 119,660 0.0% American International Group, Inc. 13,261 710,392 0.3% Ameriprise Financial, Inc. 2,591 326,906 0.1% Aon P.L.C. 2,512 216,032 0.1% * Arch Capital Group, Ltd. 2,206 124,242 0.1% Arthur J Gallagher & Co. 2,475 118,058 0.0% # Artisan Partners Asset Management, Inc. Class A 408 19,780 0.0% Assurant, Inc. 1,582 107,924 0.0% Assured Guaranty, Ltd. 4,164 96,105 0.0% Axis Capital Holdings, Ltd. 2,212 106,486 0.0% Bank of America Corp. 86,309 1,481,062 0.5% Bank of New York Mellon Corp. (The) 10,809 418,524 0.2% BB&T Corp. 6,615 250,576 0.1% * Berkshire Hathaway, Inc. Class B 17,818 2,497,371 0.9% BlackRock, Inc. 1,298 442,761 0.2% BOK Financial Corp. 1,052 72,125 0.0% Brown & Brown, Inc. 3,575 113,900 0.0% Capital One Financial Corp. 6,910 571,941 0.2% CBOE Holdings, Inc. 1,997 117,703 0.0% * CBRE Group, Inc. Class A 4,177 133,664 0.1% Charles Schwab Corp. (The) 11,167 320,158 0.1% Chubb Corp. (The) 2,147 213,326 0.1% Cincinnati Financial Corp. 2,704 136,471 0.1% CIT Group, Inc. 2,982 145,909 0.1% Citigroup, Inc. 29,395 1,573,514 0.6% City National Corp. 1,341 105,550 0.0% CME Group, Inc. 2,950 247,240 0.1% CNA Financial Corp. 553 21,611 0.0% Comerica, Inc. 3,209 153,198 0.1% Commerce Bancshares, Inc. 2,560 115,866 0.0% Cullen/Frost Bankers, Inc. 1,366 110,386 0.0% Discover Financial Services 6,677 425,859 0.2% * E*TRADE Financial Corp. 4,966 110,742 0.0% East West Bancorp, Inc. 3,793 139,431 0.1% Eaton Vance Corp. 2,323 85,556 0.0% Erie Indemnity Co. Class A 1,471 124,844 0.1% Everest Re Group, Ltd. 990 168,944 0.1% Fifth Third Bancorp 21,997 439,720 0.2% First Niagara Financial Group, Inc. 6,123 45,861 0.0% First Republic Bank 2,316 117,954 0.0% FirstMerit Corp. 2,975 54,591 0.0% FNF Group 4,714 140,666 0.1% * FNFV Group 1,571 21,114 0.0% * Forest City Enterprises, Inc. Class A 4,193 87,592 0.0% Franklin Resources, Inc. 4,756 264,481 0.1% * Genworth Financial, Inc. Class A 6,943 97,133 0.0% Goldman Sachs Group, Inc. (The) 4,050 769,460 0.3% Hartford Financial Services Group, Inc. (The) 8,400 332,472 0.1% HCC Insurance Holdings, Inc. 2,104 109,808 0.0% * Howard Hughes Corp. (The) 809 119,230 0.0% Huntington Bancshares, Inc. 16,880 167,281 0.1% U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- --------------------- ------------------- Financials -- (Continued) Intercontinental Exchange, Inc. 1,020 $ 212,456 0.1% Invesco, Ltd. 7,527 304,618 0.1% Investors Bancorp, Inc. 3,284 35,303 0.0% # Iron Mountain, Inc. 4,391 158,383 0.1% Jones Lang LaSalle, Inc. 1,158 156,573 0.1% JPMorgan Chase & Co. 33,159 2,005,456 0.7% KeyCorp 15,740 207,768 0.1% Legg Mason, Inc. 2,241 116,532 0.0% Leucadia National Corp. 6,127 145,700 0.1% Lincoln National Corp. 4,366 239,082 0.1% Loews Corp. 6,663 290,507 0.1% LPL Financial Holdings, Inc. 2,647 109,559 0.0% # M&T Bank Corp. 2,350 287,123 0.1% * Markel Corp. 205 141,632 0.1% Marsh & McLennan Cos., Inc. 6,160 334,919 0.1% McGraw Hill Financial, Inc. 3,379 305,732 0.1% MetLife, Inc. 9,379 508,717 0.2% Moody's Corp. 2,365 234,679 0.1% Morgan Stanley 14,455 505,202 0.2% MSCI, Inc. 2,685 125,282 0.1% NASDAQ OMX Group, Inc. (The) 2,667 115,374 0.0% Navient Corp. 12,251 242,325 0.1% # New York Community Bancorp, Inc. 6,767 107,934 0.0% Northern Trust Corp. 4,139 274,416 0.1% #* Ocwen Financial Corp. 1,417 33,385 0.0% Old Republic International Corp. 6,588 97,305 0.0% PacWest Bancorp 2,000 85,320 0.0% PartnerRe, Ltd. 1,418 164,048 0.1% # People's United Financial, Inc. 7,044 102,983 0.0% PNC Financial Services Group, Inc. (The) 5,048 436,097 0.2% * Popular, Inc. 1,497 47,724 0.0% Principal Financial Group, Inc. 5,008 262,269 0.1% ProAssurance Corp. 758 35,459 0.0% Progressive Corp. (The) 14,636 386,537 0.1% Prosperity Bancshares, Inc. 1,243 75,065 0.0% Protective Life Corp. 1,224 85,288 0.0% Prudential Financial, Inc. 4,353 385,415 0.1% Raymond James Financial, Inc. 2,885 161,935 0.1% * Realogy Holdings Corp. 4,899 200,908 0.1% Regions Financial Corp. 24,210 240,405 0.1% Reinsurance Group of America, Inc. 1,556 131,093 0.1% # RenaissanceRe Holdings, Ltd. 1,118 115,523 0.0% SEI Investments Co. 3,195 123,519 0.1% * Signature Bank 1,404 170,067 0.1% SLM Corp. 15,166 144,835 0.1% State Street Corp. 4,064 306,669 0.1% SunTrust Banks, Inc. 5,216 204,154 0.1% * SVB Financial Group 2,002 224,204 0.1% T Rowe Price Group, Inc. 2,830 232,315 0.1% TD Ameritrade Holding Corp. 7,229 243,906 0.1% TFS Financial Corp. 3,689 55,114 0.0% Torchmark Corp. 2,223 117,730 0.0% U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- --------------------- ------------------- Financials -- (Continued) Travelers Cos., Inc. (The) 5,321 $ 536,357 0.2% U.S. Bancorp 17,932 763,903 0.3% Umpqua Holdings Corp. 1,300 22,880 0.0% Unum Group 4,214 141,000 0.1% Validus Holdings, Ltd. 1,707 67,904 0.0% Voya Financial, Inc. 4,190 164,458 0.1% Waddell & Reed Financial, Inc. Class A 1,546 73,806 0.0% Wells Fargo & Co. 61,070 3,242,206 1.2% Willis Group Holdings P.L.C. 2,612 105,864 0.0% WR Berkley Corp. 3,536 182,245 0.1% XL Group P.L.C. 4,739 160,557 0.1% Zions Bancorporation 4,163 120,602 0.0% --------------------- ------------------ Total Financials 35,086,178 12.8% --------------------- ------------------ Health Care -- (12.4%) Abbott Laboratories 13,236 576,957 0.2% AbbVie, Inc. 20,088 1,274,785 0.5% * Actavis P.L.C. 2,107 511,453 0.2% Aetna, Inc. 5,032 415,190 0.2% Agilent Technologies, Inc. 3,366 186,073 0.1% #* Akorn, Inc. 1,500 66,825 0.0% * Alexion Pharmaceuticals, Inc. 1,397 267,330 0.1% * Align Technology, Inc. 1,068 56,198 0.0% * Alkermes P.L.C. 1,068 53,987 0.0% Allergan, Inc. 2,691 511,452 0.2% * Alnylam Pharmaceuticals, Inc. 796 73,821 0.0% AmerisourceBergen Corp. 2,218 189,439 0.1% Amgen, Inc. 7,761 1,258,679 0.5% #* athenahealth, Inc. 379 46,428 0.0% Baxter International, Inc. 5,973 418,946 0.2% Becton Dickinson and Co. 1,692 217,760 0.1% * Bio-Rad Laboratories, Inc. Class A 312 35,200 0.0% * Biogen Idec, Inc. 2,514 807,195 0.3% * BioMarin Pharmaceutical, Inc. 720 59,400 0.0% * Boston Scientific Corp. 26,941 357,777 0.1% Bristol-Myers Squibb Co. 12,735 741,050 0.3% * Brookdale Senior Living, Inc. 1,024 34,519 0.0% * Bruker Corp. 2,980 61,775 0.0% Cardinal Health, Inc. 3,896 305,758 0.1% * CareFusion Corp. 3,277 188,002 0.1% * Celgene Corp. 9,989 1,069,722 0.4% * Centene Corp. 1,139 105,551 0.0% * Cerner Corp. 2,420 153,283 0.1% Cigna Corp. 3,932 391,509 0.1% * Community Health Systems, Inc. 4,135 227,301 0.1% Cooper Cos., Inc. (The) 548 89,817 0.0% * Covance, Inc. 992 79,261 0.0% Covidien P.L.C. 4,145 383,164 0.1% CR Bard, Inc. 695 113,959 0.0% * Cubist Pharmaceuticals, Inc. 1,323 95,640 0.0% * DaVita HealthCare Partners, Inc. 4,257 332,344 0.1% DENTSPLY International, Inc. 2,594 131,697 0.0% U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- --------------------- ------------------- Health Care -- (Continued) * Edwards Lifesciences Corp. 1,163 $ 140,630 0.1% Eli Lilly & Co. 10,427 691,623 0.3% * Endo International P.L.C. 2,720 182,022 0.1% * Envision Healthcare Holdings, Inc. 1,205 42,115 0.0% * Express Scripts Holding Co. 9,084 697,833 0.3% * Gilead Sciences, Inc. 19,245 2,155,440 0.8% * HCA Holdings, Inc. 2,837 198,732 0.1% * Health Net, Inc. 1,687 80,149 0.0% * Henry Schein, Inc. 1,257 150,878 0.1% * Hologic, Inc. 5,715 149,676 0.1% * Hospira, Inc. 2,014 108,152 0.0% Humana, Inc. 3,316 460,427 0.2% * IDEXX Laboratories, Inc. 829 117,444 0.0% * Illumina, Inc. 1,294 249,199 0.1% * Incyte Corp. 1,226 82,216 0.0% #* Intercept Pharmaceuticals, Inc. 144 37,208 0.0% * Intuitive Surgical, Inc. 188 93,210 0.0% #* Isis Pharmaceuticals, Inc. 1,382 63,655 0.0% #* Jazz Pharmaceuticals P.L.C. 791 133,552 0.1% Johnson & Johnson 33,864 3,649,862 1.3% * Laboratory Corp. of America Holdings 1,528 166,995 0.1% * Mallinckrodt P.L.C. 2,230 205,561 0.1% McKesson Corp. 2,137 434,687 0.2% * Medivation, Inc. 610 64,477 0.0% * MEDNAX, Inc. 2,695 168,249 0.1% Medtronic, Inc. 11,440 779,750 0.3% Merck & Co., Inc. 33,588 1,946,089 0.7% * Mettler-Toledo International, Inc. 249 64,359 0.0% * Mylan, Inc. 3,915 209,648 0.1% Omnicare, Inc. 2,152 143,302 0.1% #* Opko Health, Inc. 4,868 40,648 0.0% #* Pacira Pharmaceuticals, Inc. 400 37,128 0.0% # Patterson Cos., Inc. 2,761 119,027 0.0% PerkinElmer, Inc. 2,706 117,495 0.0% Perrigo Co. P.L.C. 1,121 180,985 0.1% Pfizer, Inc. 76,538 2,292,313 0.8% #* Pharmacyclics, Inc. 486 63,506 0.0% #* Puma Biotechnology, Inc. 104 26,062 0.0% # Quest Diagnostics, Inc. 4,283 271,799 0.1% * Quintiles Transnational Holdings, Inc. 889 52,042 0.0% * Regeneron Pharmaceuticals, Inc. 832 327,575 0.1% # ResMed, Inc. 1,203 62,821 0.0% * Salix Pharmaceuticals, Ltd. 1,026 147,590 0.1% #* Seattle Genetics, Inc. 987 36,193 0.0% * Sirona Dental Systems, Inc. 1,192 93,632 0.0% St Jude Medical, Inc. 2,971 190,649 0.1% Stryker Corp. 2,657 232,567 0.1% * Taro Pharmaceutical Industries, Ltd. 493 79,836 0.0% * Team Health Holdings, Inc. 1,487 92,997 0.0% Teleflex, Inc. 810 92,437 0.0% * Tenet Healthcare Corp. 2,266 127,009 0.0% * Theravance Biopharma, Inc. 288 5,270 0.0% U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- --------------------- ------------------- Health Care -- (Continued) Thermo Fisher Scientific, Inc. 3,582 $ 421,136 0.2% * United Therapeutics Corp. 1,083 141,841 0.1% UnitedHealth Group, Inc. 14,297 1,358,358 0.5% Universal Health Services, Inc. Class B 2,392 248,074 0.1% * Varian Medical Systems, Inc. 1,263 106,244 0.0% * Vertex Pharmaceuticals, Inc. 1,325 149,248 0.1% * Waters Corp. 679 75,233 0.0% WellPoint, Inc. 3,396 430,239 0.2% Zimmer Holdings, Inc. 3,361 373,878 0.1% Zoetis, Inc. 6,235 231,693 0.1% --------------------- ------------------ Total Health Care 33,781,912 12.3% --------------------- ------------------ Industrials -- (12.3%) 3M Co. 7,847 1,206,633 0.4% Acuity Brands, Inc. 380 52,983 0.0% # ADT Corp. (The) 6,091 218,301 0.1% * AECOM Technology Corp. 1,671 54,402 0.0% # AGCO Corp. 2,645 117,200 0.0% Air Lease Corp. 2,028 74,205 0.0% Alaska Air Group, Inc. 6,204 330,239 0.1% Allegion P.L.C. 601 31,907 0.0% Alliant Techsystems, Inc. 1,030 120,469 0.1% Allison Transmission Holdings, Inc. 5,073 164,771 0.1% AMERCO 729 197,646 0.1% American Airlines Group, Inc. 8,110 335,348 0.1% AMETEK, Inc. 3,369 175,693 0.1% AO Smith Corp. 1,379 73,570 0.0% * Avis Budget Group, Inc. 4,861 271,001 0.1% * B/E Aerospace, Inc. 1,435 106,836 0.0% Babcock & Wilcox Co. (The) 2,510 71,786 0.0% Boeing Co. (The) 8,269 1,032,881 0.4% Carlisle Cos., Inc. 1,609 143,008 0.1% Caterpillar, Inc. 7,915 802,660 0.3% CH Robinson Worldwide, Inc. 1,733 119,941 0.1% * Chart Industries, Inc. 275 12,801 0.0% Chicago Bridge & Iron Co. NV 1,643 89,774 0.0% Cintas Corp. 2,201 161,201 0.1% Civeo Corp. 2,890 35,229 0.0% * Clean Harbors, Inc. 1,175 58,315 0.0% * Colfax Corp. 1,951 106,095 0.0% # Copa Holdings SA Class A 579 67,697 0.0% * Copart, Inc. 3,231 108,045 0.0% Crane Co. 1,416 88,288 0.0% CSX Corp. 16,617 592,064 0.2% Cummins, Inc. 1,939 283,443 0.1% Danaher Corp. 5,708 458,923 0.2% # Deere & Co. 5,613 480,136 0.2% Delta Air Lines, Inc. 15,651 629,640 0.2% Donaldson Co., Inc. 3,040 126,403 0.1% Dover Corp. 3,388 269,143 0.1% Eaton Corp. P.L.C. 4,155 284,160 0.1% Emerson Electric Co. 9,060 580,384 0.2% U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- --------------------- ------------------- Industrials -- (Continued) Equifax, Inc. 1,983 $ 150,192 0.1% Exelis, Inc. 5,024 89,678 0.0% Expeditors International of Washington, Inc. 1,652 70,474 0.0% # Fastenal Co. 2,942 129,566 0.1% FedEx Corp. 4,320 723,168 0.3% Flowserve Corp. 1,755 119,322 0.1% Fluor Corp. 3,133 207,843 0.1% Fortune Brands Home & Security, Inc. 3,142 135,891 0.1% #* Generac Holdings, Inc. 1,233 55,904 0.0% General Dynamics Corp. 3,076 429,902 0.2% General Electric Co. 89,353 2,306,201 0.8% * Genesee & Wyoming, Inc. Class A 1,105 106,301 0.0% Graco, Inc. 1,466 115,081 0.0% * HD Supply Holdings, Inc. 3,083 88,914 0.0% * Hertz Global Holdings, Inc. 12,626 276,762 0.1% * Hexcel Corp. 2,447 102,505 0.0% Honeywell International, Inc. 8,511 818,077 0.3% Hubbell, Inc. Class A 100 12,044 0.0% Hubbell, Inc. Class B 908 102,976 0.0% Huntington Ingalls Industries, Inc. 1,686 178,413 0.1% IDEX Corp. 2,077 155,588 0.1% * IHS, Inc. Class A 1,027 134,568 0.1% Illinois Tool Works, Inc. 5,080 462,534 0.2% Ingersoll-Rand P.L.C. 5,721 358,249 0.1% ITT Corp. 1,879 84,668 0.0% * Jacobs Engineering Group, Inc. 1,750 83,037 0.0% JB Hunt Transport Services, Inc. 1,381 110,162 0.0% # Joy Global, Inc. 3,006 158,206 0.1% Kansas City Southern 1,601 196,587 0.1% KAR Auction Services, Inc. 3,524 106,989 0.0% KBR, Inc. 3,277 62,525 0.0% Kennametal, Inc. 1,913 73,861 0.0% * Kirby Corp. 1,543 170,625 0.1% L-3 Communications Holdings, Inc. 1,865 226,523 0.1% Lennox International, Inc. 898 79,850 0.0% Lincoln Electric Holdings, Inc. 2,003 145,177 0.1% Lockheed Martin Corp. 3,257 620,686 0.2% Manitowoc Co., Inc. (The) 3,271 68,168 0.0% # Manpowergroup, Inc. 2,305 153,859 0.1% Masco Corp. 3,952 87,221 0.0% * Middleby Corp. (The) 1,093 96,730 0.0% MSC Industrial Direct Co., Inc. Class A 1,292 104,613 0.0% Nielsen NV 6,564 278,904 0.1% Nordson Corp. 1,547 118,423 0.0% Norfolk Southern Corp. 4,088 452,296 0.2% Northrop Grumman Corp. 2,593 357,730 0.1% #* NOW, Inc. 770 23,146 0.0% * Old Dominion Freight Line, Inc. 2,197 160,095 0.1% Oshkosh Corp. 2,396 107,245 0.0% Owens Corning 2,560 82,074 0.0% PACCAR, Inc. 5,724 373,892 0.1% Pall Corp. 978 89,409 0.0% U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- --------------------- ------------------- Industrials -- (Continued) Parker Hannifin Corp. 3,267 $ 415,007 0.2% Pentair P.L.C. 3,866 259,215 0.1% Pitney Bowes, Inc. 4,478 110,786 0.0% Precision Castparts Corp. 1,648 363,714 0.1% * Quanta Services, Inc. 3,854 131,344 0.1% Raytheon Co. 3,756 390,173 0.1% Republic Services, Inc. 7,769 298,330 0.1% Robert Half International, Inc. 2,289 125,391 0.1% Rockwell Automation, Inc. 1,308 146,954 0.1% Rockwell Collins, Inc. 1,577 132,705 0.1% Rollins, Inc. 2,862 91,212 0.0% Roper Industries, Inc. 1,454 230,168 0.1% # RR Donnelley & Sons Co. 3,166 55,247 0.0% Ryder System, Inc. 2,255 199,500 0.1% #* Sensata Technologies Holding NV 1,522 74,289 0.0% Snap-on, Inc. 786 103,862 0.0% #* SolarCity Corp. 1,067 63,145 0.0% Southwest Airlines Co. 11,880 409,622 0.2% * Spirit Aerosystems Holdings, Inc. Class A 3,050 119,987 0.1% * Spirit Airlines, Inc. 1,768 129,258 0.1% SPX Corp. 998 94,600 0.0% Stanley Black & Decker, Inc. 3,314 310,323 0.1% * Stericycle, Inc. 1,051 132,426 0.1% * Teledyne Technologies, Inc. 733 75,961 0.0% Terex Corp. 2,690 77,391 0.0% Textron, Inc. 6,122 254,247 0.1% Timken Co. (The) 1,838 79,016 0.0% Toro Co. (The) 800 49,384 0.0% Towers Watson & Co. Class A 1,439 158,707 0.1% TransDigm Group, Inc. 464 86,782 0.0% # Trinity Industries, Inc. 6,428 229,544 0.1% Triumph Group, Inc. 1,050 73,112 0.0% Tyco International, Ltd. 3,933 168,844 0.1% Union Pacific Corp. 14,231 1,657,200 0.6% * United Continental Holdings, Inc. 8,558 451,948 0.2% United Parcel Service, Inc. Class B 8,976 941,672 0.3% * United Rentals, Inc. 2,490 274,049 0.1% United Technologies Corp. 9,890 1,058,230 0.4% #* USG Corp. 2,624 70,481 0.0% # Valmont Industries, Inc. 893 121,600 0.1% * Vectrus, Inc. 279 6,819 0.0% * Verisk Analytics, Inc. Class A 1,802 112,355 0.0% * Veritiv Corp. 102 4,601 0.0% * WABCO Holdings, Inc. 1,494 145,486 0.1% Wabtec Corp. 1,008 86,990 0.0% Waste Connections, Inc. 3,141 156,736 0.1% Waste Management, Inc. 5,965 291,629 0.1% Watsco, Inc. 448 45,526 0.0% #* WESCO International, Inc. 1,090 89,827 0.0% WW Grainger, Inc. 755 186,334 0.1% U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- --------------------- ------------------- Industrials -- (Continued) Xylem, Inc. 3,608 $ 131,187 0.1% --------------------- ------------------ Total Industrials 33,608,991 12.2% --------------------- ------------------ Information Technology -- (17.6%) #* 3D Systems Corp. 1,866 70,535 0.0% Accenture P.L.C. Class A 7,774 630,627 0.2% Activision Blizzard, Inc. 15,897 317,145 0.1% * Adobe Systems, Inc. 2,711 190,095 0.1% * Akamai Technologies, Inc. 2,707 163,232 0.1% * Alliance Data Systems Corp. 578 163,776 0.1% Altera Corp. 3,661 125,829 0.1% Amdocs, Ltd. 3,466 164,774 0.1% Amphenol Corp. Class A 3,304 167,116 0.1% Analog Devices, Inc. 3,684 182,800 0.1% * ANSYS, Inc. 1,193 93,722 0.0% * AOL, Inc. 748 32,560 0.0% Apple, Inc. 70,637 7,628,796 2.8% Applied Materials, Inc. 12,146 268,305 0.1% * ARRIS Group, Inc. 5,292 158,866 0.1% * Arrow Electronics, Inc. 2,688 152,840 0.1% * Aspen Technology, Inc. 1,797 66,363 0.0% * Atmel Corp. 4,379 32,492 0.0% * Autodesk, Inc. 1,549 89,129 0.0% Automatic Data Processing, Inc. 5,393 441,040 0.2% Avago Technologies, Ltd. 2,108 181,815 0.1% Avnet, Inc. 3,724 161,063 0.1% * Blackhawk Network Holdings, Inc. Class B 1,128 37,675 0.0% Booz Allen Hamilton Holding Corp. 2,379 62,687 0.0% Broadcom Corp. Class A 7,659 320,759 0.1% Broadridge Financial Solutions, Inc. 3,333 146,419 0.1% Brocade Communications Systems, Inc. 11,810 126,721 0.1% CA, Inc. 11,659 338,811 0.1% * Cadence Design Systems, Inc. 4,605 82,660 0.0% * CDK Global, Inc. 1,709 57,422 0.0% Cisco Systems, Inc. 59,304 1,451,169 0.5% * Citrix Systems, Inc. 2,009 129,038 0.1% * Cognizant Technology Solutions Corp. Class A 5,185 253,287 0.1% * CommVault Systems, Inc. 531 23,545 0.0% Computer Sciences Corp. 5,164 311,906 0.1% * Concur Technologies, Inc. 443 56,846 0.0% Corning, Inc. 11,291 230,675 0.1% * CoStar Group, Inc. 554 89,244 0.0% #* Cree, Inc. 1,039 32,708 0.0% Dolby Laboratories, Inc. Class A 1,203 50,430 0.0% DST Systems, Inc. 998 96,157 0.0% * eBay, Inc. 11,031 579,127 0.2% * EchoStar Corp. Class A 801 37,431 0.0% * Electronic Arts, Inc. 2,648 108,489 0.0% EMC Corp. 22,716 652,631 0.2% Equinix, Inc. 569 118,864 0.1% * F5 Networks, Inc. 663 81,536 0.0% * Facebook, Inc. Class A 19,266 1,444,757 0.5% U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- --------------------- ------------------- Information Technology -- (Continued) FactSet Research Systems, Inc. 878 $ 115,404 0.0% FEI Co. 417 35,145 0.0% Fidelity National Information Services, Inc. 6,407 374,105 0.1% #* First Solar, Inc. 1,827 107,610 0.0% * Fiserv, Inc. 4,461 309,950 0.1% * FleetCor Technologies, Inc. 806 121,351 0.1% FLIR Systems, Inc. 2,934 98,377 0.0% * Fortinet, Inc. 1,495 38,945 0.0% #* Freescale Semiconductor, Ltd. 1,923 38,248 0.0% * Gartner, Inc. 1,022 82,486 0.0% * Genpact, Ltd. 3,191 56,002 0.0% Global Payments, Inc. 1,863 149,972 0.1% * Google, Inc. Class A 2,280 1,294,744 0.5% * Google, Inc. Class C 1,781 995,721 0.4% Harris Corp. 1,614 112,334 0.0% Hewlett-Packard Co. 34,381 1,233,590 0.5% * HomeAway, Inc. 883 30,817 0.0% IAC/InterActiveCorp 2,190 148,241 0.1% * Informatica Corp. 1,955 69,715 0.0% * Ingram Micro, Inc. Class A 2,968 79,661 0.0% Intel Corp. 84,793 2,883,810 1.1% International Business Machines Corp. 11,603 1,907,533 0.7% Intuit, Inc. 3,303 290,697 0.1% #* IPG Photonics Corp. 922 67,684 0.0% Jabil Circuit, Inc. 6,235 130,623 0.1% Jack Henry & Associates, Inc. 1,941 116,111 0.0% * JDS Uniphase Corp. 2,615 35,198 0.0% Juniper Networks, Inc. 6,597 138,999 0.1% KLA-Tencor Corp. 2,516 199,141 0.1% #* Knowles Corp. 1,194 23,235 0.0% Lam Research Corp. 2,718 211,623 0.1% Leidos Holdings, Inc. 1,862 68,093 0.0% Linear Technology Corp. 2,577 110,399 0.0% * LinkedIn Corp. Class A 648 148,366 0.1% Marvell Technology Group, Ltd. 7,065 94,954 0.0% MasterCard, Inc. Class A 12,582 1,053,742 0.4% Maxim Integrated Products, Inc. 4,081 119,737 0.1% # Microchip Technology, Inc. 3,338 143,901 0.1% * Micron Technology, Inc. 15,072 498,732 0.2% Microsoft Corp. 90,359 4,242,355 1.6% Motorola Solutions, Inc. 3,577 230,717 0.1% National Instruments Corp. 2,018 63,930 0.0% * NCR Corp. 6,415 177,503 0.1% NetApp, Inc. 5,848 250,294 0.1% #* NetSuite, Inc. 231 25,100 0.0% #* NeuStar, Inc. Class A 1,135 29,975 0.0% #* Nuance Communications, Inc. 6,449 99,508 0.0% NVIDIA Corp. 8,900 173,906 0.1% * ON Semiconductor Corp. 12,226 101,354 0.0% Oracle Corp. 48,032 1,875,650 0.7% * Palo Alto Networks, Inc. 731 77,267 0.0% * Pandora Media, Inc. 1,852 35,707 0.0% U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- --------------------- ------------------- Information Technology -- (Continued) Paychex, Inc. 4,002 $ 187,854 0.1% * PTC, Inc. 2,260 86,219 0.0% QUALCOMM, Inc. 16,646 1,306,877 0.5% #* Rackspace Hosting, Inc. 3,762 144,310 0.1% * Red Hat, Inc. 1,398 82,370 0.0% * Salesforce.com, Inc. 3,548 227,037 0.1% SanDisk Corp. 4,658 438,504 0.2% Science Applications International Corp. 695 33,992 0.0% # Seagate Technology P.L.C. 3,805 239,068 0.1% * ServiceNow, Inc. 611 41,505 0.0% Skyworks Solutions, Inc. 3,958 230,514 0.1% Solera Holdings, Inc. 1,539 79,951 0.0% * Splunk, Inc. 508 33,569 0.0% * SS&C Technologies Holdings, Inc. 1,827 88,281 0.0% #* Stratasys, Ltd. 1,041 125,295 0.1% #* SunEdison, Inc. 3,618 70,587 0.0% #* SunPower Corp. 2,137 68,042 0.0% Symantec Corp. 18,141 450,260 0.2% * Synopsys, Inc. 2,998 122,858 0.1% * Syntel, Inc. 587 50,840 0.0% * Tableau Software, Inc. Class A 500 41,295 0.0% TE Connectivity, Ltd. 5,470 334,381 0.1% #* Teradata Corp. 2,943 124,548 0.1% Teradyne, Inc. 2,722 50,085 0.0% Texas Instruments, Inc. 11,375 564,883 0.2% * TIBCO Software, Inc. 2,026 47,348 0.0% Total System Services, Inc. 4,493 151,818 0.1% * Trimble Navigation, Ltd. 3,287 88,289 0.0% * Twitter, Inc. 1,900 78,793 0.0% # Ubiquiti Networks, Inc. 923 33,016 0.0% * Ultimate Software Group, Inc. (The) 427 64,268 0.0% * Vantiv, Inc. Class A 2,881 89,081 0.0% * VeriFone Systems, Inc. 1,552 57,828 0.0% #* VeriSign, Inc. 1,210 72,310 0.0% Visa, Inc. Class A 4,507 1,088,125 0.4% #* VMware, Inc. Class A 504 42,119 0.0% Western Digital Corp. 3,545 348,722 0.1% # Western Union Co. (The) 5,673 96,214 0.0% * WEX, Inc. 733 83,239 0.0% #* Workday, Inc. Class A 405 38,669 0.0% Xerox Corp. 26,208 348,042 0.1% Xilinx, Inc. 3,528 156,925 0.1% * Yahoo!, Inc. 6,645 306,002 0.1% #* Yelp, Inc. 758 45,480 0.0% * Zebra Technologies Corp. Class A 417 30,754 0.0% #* Zillow, Inc. Class A 414 45,014 0.0% * Zynga, Inc. Class A 11,278 28,759 0.0% --------------------- ------------------ Total Information Technology 48,086,116 17.5% --------------------- ------------------ Materials -- (4.3%) Air Products & Chemicals, Inc. 2,407 324,127 0.1% Airgas, Inc. 1,788 199,434 0.1% U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- --------------------- ------------------- Materials -- (Continued) Albemarle Corp. 2,235 $ 130,479 0.1% Alcoa, Inc. 25,002 419,034 0.2% Allegheny Technologies, Inc. 2,060 67,671 0.0% Aptargroup, Inc. 1,872 116,513 0.0% Ashland, Inc. 1,567 169,346 0.1% Avery Dennison Corp. 2,948 138,114 0.1% Ball Corp. 1,615 104,054 0.0% Bemis Co., Inc. 3,351 128,913 0.0% Cabot Corp. 1,074 49,866 0.0% Celanese Corp. Series A 3,379 198,449 0.1% CF Industries Holdings, Inc. 1,747 454,220 0.2% # Cliffs Natural Resources, Inc. 2,534 28,457 0.0% * Crown Holdings, Inc. 1,224 58,666 0.0% Cytec Industries, Inc. 1,012 47,190 0.0% Domtar Corp. 800 32,856 0.0% Dow Chemical Co. (The) 13,687 676,138 0.2% Eagle Materials, Inc. 936 81,834 0.0% Eastman Chemical Co. 5,361 433,062 0.2% Ecolab, Inc. 2,960 329,241 0.1% EI du Pont de Nemours & Co. 10,652 736,586 0.3% FMC Corp. 1,249 71,630 0.0% Freeport-McMoRan, Inc. 17,543 499,975 0.2% * Graphic Packaging Holding Co. 10,717 129,997 0.1% Huntsman Corp. 10,697 261,007 0.1% International Flavors & Fragrances, Inc. 1,076 106,685 0.0% International Paper Co. 6,608 334,497 0.1% LyondellBasell Industries NV Class A 5,904 540,984 0.2% # Martin Marietta Materials, Inc. 683 79,856 0.0% MeadWestvaco Corp. 3,862 170,585 0.1% Monsanto Co. 4,389 504,911 0.2% Mosaic Co. (The) 5,825 258,106 0.1% NewMarket Corp. 233 90,406 0.0% Newmont Mining Corp. 10,991 206,191 0.1% Nucor Corp. 7,021 379,555 0.1% * Owens-Illinois, Inc. 5,872 151,321 0.1% Packaging Corp. of America 2,050 147,764 0.1% PolyOne Corp. 1,543 57,106 0.0% PPG Industries, Inc. 1,352 275,389 0.1% Praxair, Inc. 3,353 422,444 0.2% Reliance Steel & Aluminum Co. 1,583 106,821 0.0% Rock-Tenn Co. Class A 3,720 190,278 0.1% Rockwood Holdings, Inc. 1,527 117,442 0.0% Royal Gold, Inc. 1,537 87,840 0.0% RPM International, Inc. 2,812 127,384 0.0% Scotts Miracle-Gro Co. (The) Class A 1,330 78,789 0.0% Sealed Air Corp. 3,301 119,661 0.0% Sherwin-Williams Co. (The) 1,003 230,249 0.1% Sigma-Aldrich Corp. 1,017 138,220 0.1% Sonoco Products Co. 3,512 143,535 0.1% # Southern Copper Corp. 1,000 28,780 0.0% Steel Dynamics, Inc. 6,605 151,981 0.1% TimkenSteel Corp. 919 37,293 0.0% U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- --------------------- ------------------- Materials -- (Continued) United States Steel Corp. 3,909 $ 156,516 0.1% Valspar Corp. (The) 1,068 87,747 0.0% Vulcan Materials Co. 2,018 124,531 0.0% Westlake Chemical Corp. 1,482 104,555 0.0% * WR Grace & Co. 679 64,233 0.0% --------------------- ------------------ Total Materials 11,708,514 4.2% --------------------- ------------------ Telecommunication Services -- (2.9%) AT&T, Inc. 98,170 3,420,243 1.2% CenturyLink, Inc. 6,838 283,640 0.1% # Frontier Communications Corp. 35,667 233,262 0.1% * Level 3 Communications, Inc. 2,579 120,981 0.1% * SBA Communications Corp. Class A 1,460 164,002 0.1% #* Sprint Corp. 9,676 57,379 0.0% * T-Mobile US, Inc. 2,914 85,059 0.0% Telephone & Data Systems, Inc. 1,594 40,870 0.0% * tw telecom, Inc. 3,174 135,784 0.1% #* United States Cellular Corp. 389 14,167 0.0% Verizon Communications, Inc. 62,067 3,118,867 1.1% Windstream Holdings, Inc. 23,354 244,750 0.1% --------------------- ------------------ Total Telecommunication Services 7,919,004 2.9% --------------------- ------------------ Utilities -- (2.4%) AES Corp. 6,579 92,566 0.0% AGL Resources, Inc. 1,065 57,414 0.0% Alliant Energy Corp. 1,627 100,728 0.0% Ameren Corp. 1,637 69,311 0.0% American Electric Power Co., Inc. 4,637 270,523 0.1% American Water Works Co., Inc. 1,654 88,274 0.0% Aqua America, Inc. 2,328 60,994 0.0% Atmos Energy Corp. 1,664 88,192 0.0% * Calpine Corp. 10,706 244,311 0.1% CenterPoint Energy, Inc. 3,761 92,332 0.0% CMS Energy Corp. 2,078 67,888 0.0% # Consolidated Edison, Inc. 2,769 175,444 0.1% Dominion Resources, Inc. 5,114 364,628 0.1% DTE Energy Co. 1,470 120,775 0.1% Duke Energy Corp. 6,893 566,260 0.2% Edison International 2,907 181,920 0.1% Entergy Corp. 1,735 145,775 0.1% Exelon Corp. 7,700 281,743 0.1% FirstEnergy Corp. 3,702 138,233 0.1% Great Plains Energy, Inc. 2,072 55,799 0.0% # Integrys Energy Group, Inc. 749 54,437 0.0% ITC Holdings Corp. 2,478 98,154 0.0% MDU Resources Group, Inc. 1,812 51,062 0.0% National Fuel Gas Co. 935 64,730 0.0% NextEra Energy, Inc. 4,280 428,942 0.2% NiSource, Inc. 2,896 121,806 0.1% Northeast Utilities 2,625 129,544 0.1% NRG Energy, Inc. 5,547 166,299 0.1% OGE Energy Corp. 1,295 48,290 0.0% U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- --------------------- ------------------- Utilities -- (Continued) # ONE Gas, Inc. 692 $ 26,261 0.0% Pepco Holdings, Inc. 3,375 92,272 0.0% PG&E Corp. 4,087 205,658 0.1% Pinnacle West Capital Corp. 1,691 103,946 0.0% PPL Corp. 3,639 127,329 0.1% Public Service Enterprise Group, Inc. 4,868 201,097 0.1% Questar Corp. 2,315 55,815 0.0% SCANA Corp. 1,106 60,708 0.0% Sempra Energy 2,218 243,980 0.1% Southern Co. (The) 8,243 382,145 0.2% TECO Energy, Inc. 4,179 81,950 0.0% UGI Corp. 5,232 197,194 0.1% # Westar Energy, Inc. 2,141 80,951 0.0% # Wisconsin Energy Corp. 1,873 93,013 0.0% Xcel Energy, Inc. 3,731 124,877 0.1% --------------------- ------------------ Total Utilities 6,503,570 2.4% --------------------- ------------------ TOTAL COMMON STOCKS 262,247,491 95.4% --------------------- ------------------ RIGHTS/WARRANTS -- (0.0%) (Degree)* Community Health Systems, Inc. Rights 01/04/16 4,045 121 0.0% (Degree)#* Sears Holdings Corp. Rights 11/07/14 1,850 44 0.0% -------------------- ------------------ TOTAL RIGHTS/WARRANTS 165 0.0% -------------------- ------------------ TEMPORARY CASH INVESTMENTS -- (0.5%) State Street Institutional Liquid Reserves, 0.077% 1,461,806 1,461,806 0.5% -------------------- ------------------ SECURITIES LENDING COLLATERAL -- (3.4%) (S)@ DFA Short Term Investment Fund 803,831 9,300,329 3.4% --------------------- ------------------ TOTAL INVESTMENTS -- (100.0%) (Cost $237,614,016) $ 273,009,791 99.3% ===================== ================== U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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 $ 35,762,163 -- -- $ 35,762,163 Consumer Staples 22,315,673 -- -- 22,315,673 Energy 27,475,370 -- -- 27,475,370 Financials 35,086,178 -- -- 35,086,178 Health Care 33,781,912 -- -- 33,781,912 Industrials 33,608,991 -- -- 33,608,991 Information Technology 48,086,116 -- -- 48,086,116 Materials 11,708,514 -- -- 11,708,514 Telecommunication Services 7,919,004 -- -- 7,919,004 Utilities 6,503,570 -- -- 6,503,570 Rights/Warrants -- $ 165 -- 165 Temporary Cash Investments 1,461,806 -- -- 1,461,806 Securities Lending Collateral -- 9,300,329 -- 9,300,329 --------------------- -------------------- --------------------- ------------------- TOTAL $ 263,709,297 $ 9,300,494 -- $ 273,009,791 ===================== ==================== ===================== =================== U.S. TARGETED VALUE PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2014 PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- COMMON STOCKS -- (84.3%) Consumer Discretionary -- (12.0%) * 1-800-Flowers.com, Inc. Class A 193,518 $ 1,553,950 0.0% Aaron's, Inc. 215,498 5,335,730 0.1% # Abercrombie & Fitch Co. Class A 154,363 5,168,073 0.1% * AG&E Holdings, Inc. 22,378 25,287 0.0% # AH Belo Corp. Class A 96,709 1,113,121 0.0% * Ambassadors Group, Inc. 7,665 27,211 0.0% AMCON Distributing Co. 850 69,683 0.0% #* America's Car-Mart, Inc. 54,670 2,513,727 0.0% # American Eagle Outfitters, Inc. 177,236 2,281,027 0.0% * American Public Education, Inc. 5,526 171,251 0.0% * Apollo Education Group, Inc. Class A 121,347 3,477,805 0.1% Ark Restaurants Corp. 11,690 257,648 0.0% * Ascena Retail Group, Inc. 87,222 1,085,914 0.0% #* Ascent Capital Group, Inc. Class A 61,337 3,943,969 0.1% * Ballantyne Strong, Inc. 68,354 306,909 0.0% #* Barnes & Noble, Inc. 321,067 7,005,682 0.1% Bassett Furniture Industries, Inc. 51,875 901,588 0.0% Beasley Broadcasting Group, Inc. Class A 15,520 72,944 0.0% # bebe stores, Inc. 430,654 986,198 0.0% * Belmond, Ltd. Class A 477,974 5,477,582 0.1% # Big 5 Sporting Goods Corp. 114,346 1,407,599 0.0% Big Lots, Inc. 44,004 2,008,783 0.0% * Biglari Holdings, Inc. 9,616 3,357,523 0.1% #* BJ's Restaurants, Inc. 108,525 4,777,271 0.1% # Bob Evans Farms, Inc. 147,825 7,221,251 0.1% #* Books-A-Million, Inc. 53,259 77,226 0.0% Bowl America, Inc. Class A 14,589 211,541 0.0% #* Boyd Gaming Corp. 148,488 1,715,036 0.0% * Bravo Brio Restaurant Group, Inc. 20,192 280,063 0.0% #* Bridgepoint Education, Inc. 103,777 1,311,741 0.0% #* Bright Horizons Family Solutions, Inc. 53,993 2,405,928 0.0% Brown Shoe Co., Inc. 223,020 5,930,102 0.1% #* Build-A-Bear Workshop, Inc. 110,392 1,871,144 0.0% #* Cabela's, Inc. 60,734 2,916,447 0.1% #* Cache, Inc. 43,775 24,733 0.0% # Callaway Golf Co. 344,701 2,702,456 0.1% * Cambium Learning Group, Inc. 60,806 93,033 0.0% * Canterbury Park Holding Corp. 9,680 92,444 0.0% #* Career Education Corp. 178,869 1,037,440 0.0% # Carriage Services, Inc. 73,547 1,467,998 0.0% #* Carrols Restaurant Group, Inc. 53,312 411,036 0.0% # Cato Corp. (The) Class A 84,447 3,012,224 0.1% #* Cavco Industries, Inc. 35,750 2,605,103 0.1% #* Central European Media Enterprises, Ltd. Class A 60,346 146,641 0.0% #* Charles & Colvard, Ltd. 35,582 103,544 0.0% # Chico's FAS, Inc. 593,958 8,956,887 0.2% # Children's Place, Inc. (The) 86,758 4,272,832 0.1% * Christopher & Banks Corp. 112,735 736,160 0.0% Churchill Downs, Inc. 69,245 7,061,605 0.1% * Citi Trends, Inc. 56,998 1,291,005 0.0% * Coast Distribution System, Inc. (The) 1,305 4,039 0.0% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) Collectors Universe, Inc. 4,645 $ 114,267 0.0% Columbia Sportswear Co. 84,874 3,271,044 0.1% #* Conn's, Inc. 100,646 3,131,097 0.1% Cooper Tire & Rubber Co. 216,287 6,966,604 0.1% * Cooper-Standard Holding, Inc. 3,181 173,619 0.0% Core-Mark Holding Co., Inc. 124,712 7,237,037 0.1% * Crocs, Inc. 335,408 3,917,565 0.1% CSS Industries, Inc. 17,513 500,171 0.0% Culp, Inc. 35,100 665,847 0.0% #* Cumulus Media, Inc. Class A 536,761 2,071,897 0.0% Dana Holding Corp. 213,516 4,368,537 0.1% # Darden Restaurants, Inc. 330,254 17,100,552 0.3% * Del Frisco's Restaurant Group, Inc. 16,974 394,136 0.0% #* Delta Apparel, Inc. 33,047 346,994 0.0% Destination Maternity Corp. 6,542 97,999 0.0% #* Destination XL Group, Inc. 201,407 1,055,373 0.0% DeVry Education Group, Inc. 250,207 12,112,521 0.2% # Dillard's, Inc. Class A 211,147 22,330,907 0.4% DineEquity, Inc. 84,469 7,514,362 0.1% #* Dixie Group, Inc. (The) 36,313 286,146 0.0% * Dover Downs Gaming & Entertainment, Inc. 38,372 28,779 0.0% Dover Motorsports, Inc. 16,790 40,044 0.0% DR Horton, Inc. 307,841 7,015,696 0.1% #* DreamWorks Animation SKG, Inc. Class A 248,877 5,544,980 0.1% #* Education Management Corp. 39,767 23,665 0.0% Educational Development Corp. 2,346 10,252 0.0% * Eldorado Resorts, Inc. 27,750 114,330 0.0% # Emerson Radio Corp. 89,291 101,792 0.0% * Emmis Communications Corp. Class A 15,418 33,611 0.0% #* Entercom Communications Corp. Class A 54,499 560,250 0.0% Escalade, Inc. 9,081 103,887 0.0% # Ethan Allen Interiors, Inc. 88,954 2,517,398 0.1% #* EW Scripps Co. (The) Class A 251,388 4,826,650 0.1% * Federal-Mogul Holdings Corp. 191,402 2,987,785 0.1% Finish Line, Inc. (The) Class A 198,668 5,258,742 0.1% * Flanigan's Enterprises, Inc. 1,603 32,060 0.0% # Flexsteel Industries, Inc. 22,455 770,431 0.0% Foot Locker, Inc. 317,549 17,785,919 0.3% # Fred's, Inc. Class A 190,447 2,990,018 0.1% Frisch's Restaurants, Inc. 11,626 298,556 0.0% #* FTD Cos., Inc. 120,562 4,241,371 0.1% #* Fuel Systems Solutions, Inc. 89,701 827,940 0.0% * Full House Resorts, Inc. 38,539 49,715 0.0% #* G-III Apparel Group, Ltd. 63,884 5,069,195 0.1% * Gaiam, Inc. Class A 49,050 371,309 0.0% # GameStop Corp. Class A 635,798 27,186,722 0.5% #* Gaming Partners International Corp. 17,120 143,637 0.0% Gannett Co., Inc. 529,452 16,677,738 0.3% * Geeknet, Inc. 560 5,426 0.0% #* Genesco, Inc. 99,485 7,629,505 0.1% Graham Holdings Co. Class B 31,543 24,717,095 0.4% #* Gray Television, Inc. 333,110 3,077,936 0.1% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) # Group 1 Automotive, Inc. 165,440 $ 14,133,539 0.3% # Guess?, Inc. 162,611 3,605,086 0.1% Harte-Hanks, Inc. 244,932 1,594,507 0.0% # Haverty Furniture Cos., Inc. 106,089 2,335,019 0.0% Haverty Furniture Cos., Inc. Class A 844 18,551 0.0% * Helen of Troy, Ltd. 162,968 10,079,571 0.2% #* Hemisphere Media Group, Inc. 1,861 23,821 0.0% #* hhgregg, Inc. 125,798 651,634 0.0% * Hollywood Media Corp. 6,339 7,036 0.0% Hooker Furniture Corp. 54,414 831,990 0.0% #* Iconix Brand Group, Inc. 354,283 14,174,863 0.3% # International Speedway Corp. Class A 133,179 4,172,498 0.1% #* Isle of Capri Casinos, Inc. 134,509 999,402 0.0% #* JAKKS Pacific, Inc. 54,360 346,817 0.0% #* JC Penney Co., Inc. 138,300 1,052,463 0.0% John Wiley & Sons, Inc. Class A 31,827 1,858,379 0.0% # Johnson Outdoors, Inc. Class A 30,269 909,583 0.0% #* Journal Communications, Inc. Class A 314,796 3,088,149 0.1% * K12, Inc. 69,371 860,200 0.0% # KB Home 47,947 754,686 0.0% #* Kirkland's, Inc. 89,444 1,592,103 0.0% La-Z-Boy, Inc. 254,916 5,827,380 0.1% #* Lakeland Industries, Inc. 27,527 388,131 0.0% #* Lands' End, Inc. 2,034 96,554 0.0% #* LeapFrog Enterprises, Inc. 80,035 425,786 0.0% Lear Corp. 248,685 23,003,362 0.4% #* Lee Enterprises, Inc. 35,600 132,788 0.0% Lennar Corp. Class B 61,143 2,146,731 0.0% * Liberty TripAdvisor Holdings, Inc. Class A 126,318 3,989,122 0.1% * Liberty Ventures Series A 209,867 7,366,332 0.1% #* Life Time Fitness, Inc. 128,593 7,171,632 0.1% # Lifetime Brands, Inc. 57,659 986,545 0.0% # Lincoln Educational Services Corp. 38,993 103,331 0.0% Lithia Motors, Inc. Class A 42,873 3,327,802 0.1% * Live Nation Entertainment, Inc. 924,308 24,032,008 0.4% * Loral Space & Communications, Inc. 34,834 2,664,801 0.1% * Luby's, Inc. 122,762 612,582 0.0% #* M/I Homes, Inc. 96,623 2,081,259 0.0% #* Madison Square Garden Co. (The) Class A 47,013 3,561,705 0.1% Marcus Corp. (The) 106,855 1,830,426 0.0% #* MarineMax, Inc. 133,003 2,549,668 0.1% Marriott Vacations Worldwide Corp. 123,174 8,553,203 0.2% #* Martha Stewart Living Omnimedia, Inc. Class A 19,654 85,102 0.0% * McClatchy Co. (The) Class A 204,980 729,729 0.0% # MDC Holdings, Inc. 195,240 4,767,761 0.1% #* Media General, Inc. Class A 21,681 323,914 0.0% # Men's Wearhouse, Inc. (The) 276,271 12,993,025 0.2% # Meredith Corp. 147,340 7,682,308 0.1% #* Meritage Homes Corp. 144,867 5,329,657 0.1% * Modine Manufacturing Co. 216,890 2,782,699 0.1% * Monarch Casino & Resort, Inc. 41,176 669,934 0.0% #* Motorcar Parts of America, Inc. 46,721 1,356,778 0.0% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) Movado Group, Inc. 87,835 $ 3,100,576 0.1% * Murphy USA, Inc. 43,963 2,519,080 0.1% # NACCO Industries, Inc. Class A 33,768 1,977,792 0.0% * Nautilus, Inc. 3,766 50,389 0.0% * New York & Co., Inc. 198,583 649,366 0.0% # New York Times Co. (The) Class A 310,287 3,984,085 0.1% #* Office Depot, Inc. 1,469,615 7,671,390 0.1% * P&F Industries, Inc. Class A 1,458 11,649 0.0% #* Pacific Sunwear of California, Inc. 106,313 161,596 0.0% #* Penn National Gaming, Inc. 160,965 2,107,032 0.0% Penske Automotive Group, Inc. 224,615 10,161,583 0.2% * Pep Boys-Manny, Moe & Jack (The) 274,328 2,614,346 0.1% #* Perfumania Holdings, Inc. 13,797 84,852 0.0% #* Perry Ellis International, Inc. 82,106 1,679,068 0.0% #* Pinnacle Entertainment, Inc. 144,245 3,696,999 0.1% PulteGroup, Inc. 1,118,270 21,459,601 0.4% #* Quiksilver, Inc. 733,047 1,282,832 0.0% #* Radio One, Inc. Class D 26,961 67,133 0.0% #* RadioShack Corp. 138,303 127,239 0.0% #* RCI Hospitality Holdings, Inc. 50,022 595,262 0.0% #* Reading International, Inc. Class A 8,787 87,606 0.0% * Red Lion Hotels Corp. 90,325 512,143 0.0% #* Red Robin Gourmet Burgers, Inc. 46,365 2,548,684 0.1% # Regis Corp. 298,372 5,066,357 0.1% # Remy International, Inc. 3,804 70,298 0.0% # Rent-A-Center, Inc. 325,902 10,093,185 0.2% Rocky Brands, Inc. 34,614 454,828 0.0% #* Ruby Tuesday, Inc. 337,423 2,591,409 0.1% # Ryland Group, Inc. (The) 187,614 6,718,457 0.1% # Saga Communications, Inc. Class A 16,217 650,302 0.0% # Salem Communications Corp. Class A 32,651 251,739 0.0% # Scholastic Corp. 150,930 5,253,873 0.1% #* Scientific Games Corp. Class A 148,261 1,745,032 0.0% Service Corp. International 531,492 11,623,730 0.2% #* Shiloh Industries, Inc. 58,393 995,017 0.0% Shoe Carnival, Inc. 103,151 1,897,978 0.0% #* Shutterfly, Inc. 29,100 1,217,253 0.0% Signet Jewelers, Ltd. 50,409 6,049,584 0.1% * Sizmek, Inc. 115,434 661,437 0.0% #* Skechers U.S.A., Inc. Class A 268,478 14,699,170 0.3% * Skullcandy, Inc. 59,933 499,841 0.0% * Skyline Corp. 27,646 101,184 0.0% # Sonic Automotive, Inc. Class A 196,388 4,888,097 0.1% * Spanish Broadcasting System, Inc. Class A 16,642 67,067 0.0% Spartan Motors, Inc. 157,816 897,973 0.0% # Speedway Motorsports, Inc. 190,470 3,727,498 0.1% # Stage Stores, Inc. 175,507 2,960,803 0.1% # Standard Motor Products, Inc. 160,707 6,351,141 0.1% #* Standard Pacific Corp. 627,914 4,646,564 0.1% * Stanley Furniture Co., Inc. 49,285 142,927 0.0% # Stein Mart, Inc. 188,192 2,518,009 0.1% * Steiner Leisure, Ltd. 7,473 315,211 0.0% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) #* Stoneridge, Inc. 93,173 $ 1,210,317 0.0% # Strattec Security Corp. 10,437 1,082,526 0.0% # Superior Industries International, Inc. 152,418 2,973,675 0.1% # Superior Uniform Group, Inc. 10,857 260,568 0.0% Sypris Solutions, Inc. 48,196 164,348 0.0% #* Systemax, Inc. 64,737 990,476 0.0% # Tandy Leather Factory, Inc. 40,081 370,348 0.0% * Time, Inc. 140,399 3,171,613 0.1% * Toll Brothers, Inc. 515,499 16,470,193 0.3% Trans World Entertainment Corp. 13,574 44,794 0.0% #* Tuesday Morning Corp. 168,103 3,427,620 0.1% * Unifi, Inc. 96,247 2,692,029 0.1% * Universal Electronics, Inc. 60,096 3,418,861 0.1% Universal Technical Institute, Inc. 13,677 162,893 0.0% Vail Resorts, Inc. 21,041 1,817,101 0.0% Value Line, Inc. 1,421 22,665 0.0% #* Valuevision Media, Inc. Class A 65,594 371,262 0.0% * Visteon Corp. 86,411 8,113,993 0.2% #* Vitamin Shoppe, Inc. 113,201 5,312,523 0.1% #* VOXX International Corp. 100,744 859,346 0.0% # Wendy's Co. (The) 2,361,897 18,942,414 0.3% * West Marine, Inc. 115,748 1,138,960 0.0% Weyco Group, Inc. 19,126 595,775 0.0% * William Lyon Homes Class A 34,290 811,301 0.0% # Wolverine World Wide, Inc. 289,724 7,863,109 0.1% * Zagg, Inc. 37,785 253,915 0.0% #* Zumiez, Inc. 77,595 2,590,121 0.1% -------------------- ------------------ Total Consumer Discretionary 796,086,208 14.2% -------------------- ------------------ Consumer Staples -- (2.4%) # Alico, Inc. 14,909 550,142 0.0% * Alliance One International, Inc. 444,232 901,791 0.0% Andersons, Inc. (The) 169,476 10,800,705 0.2% # B&G Foods, Inc. 20,838 613,887 0.0% #* Boulder Brands, Inc. 280,158 2,487,803 0.0% * Bridgford Foods Corp. 1,048 8,798 0.0% # Cal-Maine Foods, Inc. 43,019 3,776,638 0.1% # Casey's General Stores, Inc. 103,103 8,441,043 0.2% * CCA Industries, Inc. 24,286 82,572 0.0% * Central Garden and Pet Co. 79,373 633,397 0.0% #* Central Garden and Pet Co. Class A 193,017 1,658,016 0.0% * Chiquita Brands International, Inc. 229,559 3,312,536 0.1% # Coca-Cola Bottling Co. Consolidated 19,029 1,720,983 0.0% #* Craft Brew Alliance, Inc. 59,046 819,558 0.0% #* Darling International, Inc. 253,212 4,456,531 0.1% # Dean Foods Co. 359,184 5,283,597 0.1% Energizer Holdings, Inc. 73,963 9,071,562 0.2% #* Farmer Bros. Co. 21,763 634,609 0.0% Fresh Del Monte Produce, Inc. 310,620 9,974,008 0.2% Golden Enterprises, Inc. 17,103 76,450 0.0% # Ingles Markets, Inc. Class A 62,571 1,683,160 0.0% # Ingredion, Inc. 213,423 16,486,927 0.3% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Staples -- (Continued) Inter Parfums, Inc. 95,073 $ 2,700,073 0.1% # John B. Sanfilippo & Son, Inc. 38,315 1,423,402 0.0% Limoneira Co. 4,471 114,726 0.0% * Mannatech, Inc. 3,902 56,852 0.0% MGP Ingredients, Inc. 58,272 719,659 0.0% #* Natural Alternatives International, Inc. 14,510 88,946 0.0% * Nutraceutical International Corp. 57,498 1,292,555 0.0% # Oil-Dri Corp. of America 20,822 628,408 0.0% * Omega Protein Corp. 111,384 1,609,499 0.0% # Orchids Paper Products Co. 26,290 756,100 0.0% * Pantry, Inc. (The) 109,950 2,833,412 0.1% #* Pilgrim's Pride Corp. 181,851 5,166,387 0.1% Pinnacle Foods, Inc. 70,249 2,374,416 0.0% #* Post Holdings, Inc. 183,305 6,873,938 0.1% * Primo Water Corp. 4,300 18,189 0.0% Reliv International, Inc. 600 726 0.0% # Sanderson Farms, Inc. 95,525 8,022,189 0.1% * Seaboard Corp. 1,697 5,214,660 0.1% * Seneca Foods Corp. Class A 33,718 906,340 0.0% * Seneca Foods Corp. Class B 189 5,713 0.0% # Snyder's-Lance, Inc. 120,963 3,603,488 0.1% SpartanNash Co. 194,311 4,354,510 0.1% Spectrum Brands Holdings, Inc. 102,747 9,307,851 0.2% #* TreeHouse Foods, Inc. 56,637 4,823,773 0.1% # Universal Corp. 123,817 5,509,857 0.1% Village Super Market, Inc. Class A 20,181 560,023 0.0% Weis Markets, Inc. 81,239 3,626,509 0.1% -------------------- ------------------ Total Consumer Staples 156,066,914 2.8% -------------------- ------------------ Energy -- (7.3%) Adams Resources & Energy, Inc. 17,359 729,946 0.0% # Alon USA Energy, Inc. 287,691 4,614,564 0.1% #* Alpha Natural Resources, Inc. 1,178,592 2,310,040 0.0% #* Approach Resources, Inc. 87,580 867,042 0.0% # Arch Coal, Inc. 477,446 1,031,283 0.0% #* Atwood Oceanics, Inc. 95,196 3,869,717 0.1% #* Barnwell Industries, Inc. 21,188 54,241 0.0% * Basic Energy Services, Inc. 241,952 3,121,181 0.1% #* Bill Barrett Corp. 259,577 3,945,570 0.1% Bolt Technology Corp. 41,081 900,906 0.0% * Bonanza Creek Energy, Inc. 142,990 6,468,868 0.1% #* BPZ Resources, Inc. 410,902 509,518 0.0% # Bristow Group, Inc. 161,348 11,923,617 0.2% #* C&J Energy Services, Inc. 220,342 4,254,804 0.1% #* Callon Petroleum Co. 160,144 1,050,545 0.0% * Carrizo Oil & Gas, Inc. 131,837 6,847,614 0.1% Cimarex Energy Co. 23,157 2,632,256 0.1% #* Clayton Williams Energy, Inc. 34,711 2,885,873 0.1% #* Cloud Peak Energy, Inc. 235,990 2,824,800 0.1% # Comstock Resources, Inc. 277,161 3,281,586 0.1% * Contango Oil & Gas Co. 41,352 1,512,243 0.0% # Dawson Geophysical Co. 47,151 801,095 0.0% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Energy -- (Continued) Delek US Holdings, Inc. 245,323 $ 8,313,996 0.2% # Denbury Resources, Inc. 896,480 11,116,352 0.2% DHT Holdings, Inc. 17,450 116,217 0.0% # Diamond Offshore Drilling, Inc. 299,972 11,311,944 0.2% * Earthstone Energy, Inc. 200 4,756 0.0% #* Emerald Oil, Inc. 139,961 445,076 0.0% # Energy XXI Bermuda, Ltd. 207,749 1,597,590 0.0% * ENGlobal Corp. 46,727 61,212 0.0% EnLink Midstream LLC 110,255 4,178,665 0.1% * Era Group, Inc. 102,587 2,399,510 0.0% * Escalera Resources Co. 52,252 59,045 0.0% # Exterran Holdings, Inc. 371,091 14,595,009 0.3% * Forbes Energy Services, Ltd. 14,596 42,036 0.0% * Forum Energy Technologies, Inc. 60,043 1,639,174 0.0% # GasLog, Ltd. 257,234 5,355,612 0.1% * Gastar Exploration, Inc. 242,406 969,624 0.0% # Green Plains, Inc. 181,915 6,221,493 0.1% Gulf Island Fabrication, Inc. 73,674 1,557,468 0.0% # Gulfmark Offshore, Inc. Class A 154,301 4,653,718 0.1% #* Halcon Resources Corp. 245,900 764,749 0.0% * Harvest Natural Resources, Inc. 198,761 739,391 0.0% #* Helix Energy Solutions Group, Inc. 568,915 15,155,896 0.3% #* Hercules Offshore, Inc. 840,892 1,387,472 0.0% * HKN, Inc. 1,137 75,042 0.0% #* Hornbeck Offshore Services, Inc. 193,454 5,931,300 0.1% #* ION Geophysical Corp. 244,434 684,415 0.0% * Key Energy Services, Inc. 537,341 1,633,517 0.0% * Kodiak Oil & Gas Corp. 201,596 2,175,221 0.0% #* Magnum Hunter Resources Corp. 89,757 416,472 0.0% #* Matador Resources Co. 105,695 2,565,218 0.0% * Matrix Service Co. 143,815 3,604,004 0.1% #* McDermott International, Inc. 371,819 1,427,785 0.0% #* Mexco Energy Corp. 6,763 40,240 0.0% #* Miller Energy Resources, Inc. 32,924 114,576 0.0% * Mitcham Industries, Inc. 57,917 590,753 0.0% Nabors Industries, Ltd. 1,097,257 19,586,037 0.4% * Natural Gas Services Group, Inc. 61,745 1,588,699 0.0% * Newfield Exploration Co. 414,409 13,513,877 0.2% #* Newpark Resources, Inc. 524,786 5,998,304 0.1% # Noble Corp. P.L.C. 626,915 13,115,062 0.2% #* Nordic American Offshore, Ltd. 25 400 0.0% # Nordic American Tankers, Ltd. 3,000 25,350 0.0% #* Northern Oil and Gas, Inc. 214,370 2,422,381 0.0% #* Nuverra Environmental Solutions, Inc. 25,263 239,241 0.0% #* Oasis Petroleum, Inc. 183,692 5,503,412 0.1% * Oil States International, Inc. 94,609 5,651,942 0.1% #* Overseas Shipholding Group, Inc. 142,039 731,501 0.0% #* Pacific Drilling SA 33,011 240,320 0.0% # Panhandle Oil and Gas, Inc. Class A 7,608 156,420 0.0% * Parker Drilling Co. 658,047 2,921,729 0.1% Patterson-UTI Energy, Inc. 740,622 17,056,525 0.3% # PBF Energy, Inc. Class A 279,996 7,299,496 0.1% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Energy -- (Continued) * PDC Energy, Inc. 187,492 $ 8,197,150 0.1% # Peabody Energy Corp. 433,558 4,522,010 0.1% #* Penn Virginia Corp. 369,181 3,163,881 0.1% * PetroQuest Energy, Inc. 3,108 14,608 0.0% #* PHI, Inc. Non-Voting 63,165 2,826,002 0.1% * Pioneer Energy Services Corp. 336,370 3,087,877 0.1% QEP Resources, Inc. 476,536 11,946,758 0.2% #* Renewable Energy Group, Inc. 117,894 1,241,424 0.0% #* Rex Energy Corp. 399,863 3,134,926 0.1% * Rosetta Resources, Inc. 177,721 6,758,730 0.1% Rowan Cos. P.L.C. Class A 691,059 16,772,002 0.3% #* SandRidge Energy, Inc. 822,466 3,207,617 0.1% # Scorpio Tankers, Inc. 555,769 4,851,863 0.1% #* SEACOR Holdings, Inc. 106,689 8,796,508 0.2% SemGroup Corp. Class A 48,770 3,743,098 0.1% * Seventy Seven Energy, Inc. 59,580 778,711 0.0% # Ship Finance International, Ltd. 265,556 4,564,908 0.1% # SM Energy Co. 164,815 9,279,084 0.2% #* Steel Excel, Inc. 42,674 1,301,557 0.0% #* Stone Energy Corp. 232,879 5,705,535 0.1% Superior Energy Services, Inc. 633,713 15,937,882 0.3% #* Swift Energy Co. 231,376 1,584,926 0.0% #* Synergy Resources Corp. 9,843 119,986 0.0% # Tesco Corp. 120,771 2,299,480 0.0% Tesoro Corp. 315,473 22,527,927 0.4% #* TETRA Technologies, Inc. 418,348 3,986,856 0.1% #* TGC Industries, Inc. 36,617 114,977 0.0% # Tidewater, Inc. 305,591 11,267,140 0.2% #* Triangle Petroleum Corp. 348,017 2,697,132 0.1% * Unit Corp. 226,934 10,988,144 0.2% * Vaalco Energy, Inc. 266,869 1,980,168 0.0% # W&T Offshore, Inc. 227,750 2,070,248 0.0% * Warren Resources, Inc. 280,434 970,302 0.0% Western Refining, Inc. 343,307 15,651,366 0.3% * Whiting Petroleum Corp. 44,660 2,734,978 0.1% * Willbros Group, Inc. 320,389 1,880,683 0.0% World Fuel Services Corp. 13,368 551,296 0.0% * WPX Energy, Inc. 548,538 10,488,047 0.2% -------------------- ------------------ Total Energy 486,178,340 8.7% -------------------- ------------------ Financials -- (21.4%) * 1st Constitution Bancorp 964 10,705 0.0% # 1st Source Corp. 97,578 3,053,216 0.1% 1st United Bancorp, Inc. 36,488 322,919 0.0% Access National Corp. 16,817 283,366 0.0% # Alexander & Baldwin, Inc. 203,487 8,145,585 0.2% * Alleghany Corp. 35,065 15,578,678 0.3% Alliance Bancorp, Inc. of Pennsylvania 1,413 23,300 0.0% Allied World Assurance Co. Holdings AG 518,010 19,684,380 0.4% #* Ambac Financial Group, Inc. 141,150 3,229,512 0.1% # American Equity Investment Life Holding Co. 331,806 8,563,913 0.2% American Financial Group, Inc. 465,774 27,867,258 0.5% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) * American Independence Corp. 360 $ 3,956 0.0% # American National Bankshares, Inc. 20,272 490,582 0.0% American National Insurance Co. 46,243 5,275,401 0.1% * American River Bankshares 7,244 68,818 0.0% Ameris Bancorp 100,753 2,498,674 0.1% AMERISAFE, Inc. 105,756 4,410,025 0.1% AmeriServ Financial, Inc. 36,909 116,263 0.0% #* Anchor Bancorp, Inc. 521 10,759 0.0% * Arch Capital Group, Ltd. 39,429 2,220,641 0.0% Argo Group International Holdings, Ltd. 160,766 8,970,743 0.2% # Arrow Financial Corp. 1,561 42,756 0.0% Aspen Insurance Holdings, Ltd. 389,738 17,004,269 0.3% # Associated Banc-Corp 645,644 12,138,107 0.2% Assurant, Inc. 471,974 32,198,066 0.6% Assured Guaranty, Ltd. 577,469 13,327,985 0.2% * Asta Funding, Inc. 60,415 509,298 0.0% Astoria Financial Corp. 508,927 6,692,390 0.1% Atlantic American Corp. 864 3,335 0.0% #* Atlantic Coast Financial Corp. 5,533 22,796 0.0% * Atlanticus Holdings Corp. 66,128 92,579 0.0% Auburn National Bancorporation, Inc. 692 16,241 0.0% * AV Homes, Inc. 44,952 673,831 0.0% Axis Capital Holdings, Ltd. 606,646 29,203,938 0.5% Baldwin & Lyons, Inc. Class A 453 11,108 0.0% Baldwin & Lyons, Inc. Class B 19,339 520,606 0.0% # Banc of California, Inc. 24,903 293,108 0.0% # Bancfirst Corp. 29,874 1,941,810 0.0% Bancorp of New Jersey, Inc. 500 6,023 0.0% #* Bancorp, Inc. 146,000 1,381,160 0.0% # BancorpSouth, Inc. 388,031 8,936,354 0.2% Bank Mutual Corp. 166,560 1,097,630 0.0% Bank of Commerce Holdings 10,313 62,394 0.0% Bank of Kentucky Financial Corp (The) 4,907 230,187 0.0% # BankFinancial Corp. 106,520 1,270,784 0.0% Banner Corp. 106,937 4,621,817 0.1% Bar Harbor Bankshares 12,594 366,485 0.0% BBCN Bancorp, Inc. 325,841 4,607,392 0.1% BCB Bancorp, Inc. 6,560 84,558 0.0% #* Bear State Financial, Inc. 4,332 38,858 0.0% #* Beneficial Mutual Bancorp, Inc. 28,579 383,816 0.0% Berkshire Hills Bancorp, Inc. 105,507 2,719,970 0.1% # Boston Private Financial Holdings, Inc. 379,688 4,992,897 0.1% # Bridge Bancorp, Inc. 8,076 212,076 0.0% #* Bridge Capital Holdings 1,785 43,054 0.0% # Brookline Bancorp, Inc. 295,123 2,830,230 0.1% # Bryn Mawr Bank Corp. 32,420 999,509 0.0% C&F Financial Corp. 6,464 221,974 0.0% # Calamos Asset Management, Inc. Class A 87,224 1,194,969 0.0% California First National Bancorp 4,450 67,195 0.0% # Camden National Corp. 12,740 521,193 0.0% # Cape Bancorp, Inc. 6,624 59,020 0.0% #* Capital Bank Financial Corp. Class A 29,343 759,690 0.0% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) # Capital City Bank Group, Inc. 69,097 $ 1,044,056 0.0% # Capital Southwest Corp. 41,628 1,526,083 0.0% # Capitol Federal Financial, Inc. 503,957 6,455,689 0.1% # Cardinal Financial Corp. 155,459 2,984,813 0.1% * Carolina Bank Holdings, Inc. 600 5,676 0.0% * Cascade Bancorp 144,725 739,545 0.0% # Cash America International, Inc. 98,584 4,845,404 0.1% # Cathay General Bancorp 371,944 9,823,041 0.2% # Centerstate Banks, Inc. 115,402 1,343,279 0.0% # Central Pacific Financial Corp. 64,678 1,222,414 0.0% # Century Bancorp, Inc. Class A 4,472 169,847 0.0% Chemical Financial Corp. 112,802 3,359,244 0.1% Chemung Financial Corp. 681 19,238 0.0% Chicopee Bancorp, Inc. 4,960 73,854 0.0% Citizens Community Bancorp, Inc. 6,617 58,891 0.0% Citizens Holding Co. 1,603 30,056 0.0% #* Citizens, Inc. 89,932 655,604 0.0% # City Holding Co. 42,814 1,926,202 0.0% # CNB Financial Corp. 11,473 207,776 0.0% CNO Financial Group, Inc. 1,174,038 21,285,309 0.4% # CoBiz Financial, Inc. 156,344 1,879,255 0.0% Codorus Valley Bancorp, Inc. 1,594 34,460 0.0% * Colonial Financial Services, Inc. 1,717 22,304 0.0% Columbia Banking System, Inc. 204,991 5,694,650 0.1% # Community Bank System, Inc. 161,814 6,173,204 0.1% # Community Trust Bancorp, Inc. 77,676 2,792,452 0.1% Community West Bancshares 5,040 32,508 0.0% ConnectOne Bancorp, Inc. 46,464 859,584 0.0% # Consolidated-Tomoka Land Co. 13,494 704,252 0.0% * Consumer Portfolio Services, Inc. 38,947 274,966 0.0% #* Cowen Group, Inc. Class A 404,562 1,634,431 0.0% #* Customers Bancorp, Inc. 34,801 664,699 0.0% # CVB Financial Corp. 342,905 5,411,041 0.1% Dime Community Bancshares, Inc. 188,788 2,973,411 0.1% Donegal Group, Inc. Class A 84,094 1,330,367 0.0% #* Doral Financial Corp. 1,812 10,528 0.0% * E*TRADE Financial Corp. 1,292,524 28,823,285 0.5% Eagle Bancorp Montana, Inc. 600 6,420 0.0% East West Bancorp, Inc. 4,015 147,591 0.0% EMC Insurance Group, Inc. 55,011 1,762,552 0.0% Employers Holdings, Inc. 122,599 2,499,794 0.1% #* Encore Capital Group, Inc. 88,478 4,026,634 0.1% Endurance Specialty Holdings, Ltd. 247,707 14,354,621 0.3% #* Enstar Group, Ltd. 19,901 2,946,741 0.1% # Enterprise Bancorp, Inc. 7,936 186,734 0.0% Enterprise Financial Services Corp. 53,887 1,015,770 0.0% # ESB Financial Corp. 51,024 952,108 0.0% ESSA Bancorp, Inc. 79,429 912,639 0.0% # Evans Bancorp, Inc. 615 14,296 0.0% # EverBank Financial Corp. 274,449 5,255,698 0.1% Everest Re Group, Ltd. 86,076 14,688,869 0.3% #* Ezcorp, Inc. Class A 44,236 498,982 0.0% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) * Farmers Capital Bank Corp. 5,872 $ 131,768 0.0% FBL Financial Group, Inc. Class A 134,590 6,672,972 0.1% Federal Agricultural Mortgage Corp. Class A 300 7,350 0.0% # Federal Agricultural Mortgage Corp. Class C 60,117 2,001,896 0.0% # Federated National Holding Co. 28,190 943,237 0.0% # Fidelity Southern Corp. 36,671 562,900 0.0% Financial Institutions, Inc. 38,203 960,423 0.0% #* First Acceptance Corp. 86,504 221,450 0.0% # First American Financial Corp. 398,059 12,069,149 0.2% # First Bancorp, Inc. 25,779 456,031 0.0% * First BanCorp.(318672706) 236,965 1,234,588 0.0% First Bancorp.(318910106) 66,637 1,207,462 0.0% First Bancshares, Inc. (The) 1,637 24,620 0.0% # First Busey Corp. 296,147 1,850,919 0.0% First Business Financial Services, Inc. 1,514 71,052 0.0% First Citizens BancShares, Inc. Class A 19,028 4,780,024 0.1% # First Commonwealth Financial Corp. 523,696 4,896,558 0.1% First Community Bancshares, Inc. 51,283 839,503 0.0% # First Connecticut Bancorp, Inc. 8,160 127,622 0.0% First Defiance Financial Corp. 44,537 1,364,168 0.0% First Financial Bancorp 208,262 3,652,916 0.1% # First Financial Corp. 51,892 1,799,615 0.0% First Financial Northwest, Inc. 97,328 1,129,005 0.0% # First Horizon National Corp. 646,743 8,317,115 0.2% First Interstate Bancsystem, Inc. 71,083 2,085,575 0.0% #* First Marblehead Corp. (The) 24,327 60,088 0.0% # First Merchants Corp. 145,401 3,293,333 0.1% First Midwest Bancorp, Inc. 318,463 5,346,994 0.1% * First NBC Bank Holding Co. 16,583 609,094 0.0% First Niagara Financial Group, Inc. 1,491,022 11,167,755 0.2% First South Bancorp, Inc. 6,484 53,493 0.0% * First United Corp. 5,808 49,658 0.0% First West Virginia Bancorp 63 1,259 0.0% # FirstMerit Corp. 226,167 4,150,164 0.1% #* Flagstar Bancorp, Inc. 114,220 1,795,538 0.0% # Flushing Financial Corp. 153,821 3,097,955 0.1% # FNB Corp. 652,443 8,344,746 0.2% * Forestar Group, Inc. 97,587 1,702,893 0.0% * Fortegra Financial Corp. 281 2,776 0.0% # Fox Chase Bancorp, Inc. 28,312 463,751 0.0% #* Franklin Financial Corp. 5,307 110,173 0.0% Fulton Financial Corp. 710,059 8,435,501 0.2% # FXCM, Inc. Class A 1,155 19,011 0.0% # Gain Capital Holdings, Inc. 38,593 330,356 0.0% * Genworth Financial, Inc. Class A 1,716,485 24,013,625 0.4% # German American Bancorp, Inc. 35,757 1,068,062 0.0% GFI Group, Inc. 221,401 1,217,706 0.0% Glacier Bancorp, Inc. 192,057 5,510,115 0.1% #* Global Indemnity P.L.C. 81,077 2,349,611 0.1% # Great Southern Bancorp, Inc. 53,554 2,035,588 0.0% #* Green Dot Corp. Class A 72,414 1,730,695 0.0% * Greenlight Capital Re, Ltd. Class A 90,816 2,946,979 0.1% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) # Griffin Land & Nurseries, Inc. 10,781 $ 281,923 0.0% # Guaranty Bancorp 28,269 445,802 0.0% Guaranty Federal Bancshares, Inc. 348 4,418 0.0% * Hallmark Financial Services, Inc. 100,040 1,166,466 0.0% # Hampden Bancorp, Inc. 20,730 356,556 0.0% # Hancock Holding Co. 153,316 5,395,190 0.1% Hanmi Financial Corp. 156,332 3,353,321 0.1% Hanover Insurance Group, Inc. (The) 225,011 15,062,236 0.3% Hawthorn Bancshares, Inc. 556 7,651 0.0% HCC Insurance Holdings, Inc. 219,285 11,444,484 0.2% # Heartland Financial USA, Inc. 47,481 1,262,995 0.0% Heritage Commerce Corp. 73,453 639,041 0.0% Heritage Financial Corp. 48,349 848,525 0.0% Heritage Financial Group, Inc. 4,348 92,134 0.0% HF Financial Corp. 4,524 61,481 0.0% * Hilltop Holdings, Inc. 256,223 5,644,593 0.1% # Hingham Institution for Savings 1,977 163,537 0.0% * HMN Financial, Inc. 3,801 49,261 0.0% * Home Bancorp, Inc. 11,854 270,153 0.0% # Home BancShares, Inc. 52,028 1,660,734 0.0% # HomeStreet, Inc. 4,401 76,665 0.0% * HomeTrust Bancshares, Inc. 9,385 144,998 0.0% HopFed Bancorp, Inc. 9,384 107,353 0.0% Horace Mann Educators Corp. 199,789 6,075,584 0.1% # Horizon Bancorp 16,580 426,438 0.0% Hudson City Bancorp, Inc. 75,160 725,294 0.0% # Hudson Valley Holding Corp. 15,468 351,742 0.0% Iberiabank Corp. 126,018 8,677,600 0.2% #* Imperial Holdings, Inc. 1,082 6,784 0.0% # Independence Holding Co. 59,334 839,576 0.0% # Independent Bank Corp.(453836108) 100,257 4,090,486 0.1% # Independent Bank Corp.(453838609) 24,000 289,680 0.0% Infinity Property & Casualty Corp. 14,000 1,022,140 0.0% Interactive Brokers Group, Inc. Class A 207,686 5,362,453 0.1% International Bancshares Corp. 257,120 7,294,494 0.1% Intervest Bancshares Corp. Class A 17,708 172,653 0.0% #* INTL. FCStone, Inc. 11,970 216,657 0.0% * Investment Technology Group, Inc. 154,059 2,762,278 0.1% Investors Bancorp, Inc. 2,982 32,057 0.0% Investors Title Co. 5,086 381,196 0.0% # Janus Capital Group, Inc. 888,638 13,320,684 0.2% JMP Group, Inc. 63,752 465,390 0.0% * KCG Holdings, Inc. Class A 130,007 1,385,875 0.0% #* Kearny Financial Corp. 1,371 19,523 0.0% # Kemper Corp. 291,935 10,757,805 0.2% # Kentucky First Federal Bancorp 2,420 19,820 0.0% * Ladenburg Thalmann Financial Services, Inc. 5,000 21,350 0.0% # Lake Shore Bancorp, Inc. 406 5,623 0.0% Lakeland Bancorp, Inc. 140,420 1,543,216 0.0% # Lakeland Financial Corp. 62,433 2,587,224 0.1% Landmark Bancorp, Inc. 1,068 25,525 0.0% Legg Mason, Inc. 731,595 38,042,940 0.7% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) LNB Bancorp, Inc. 31,867 $ 447,413 0.0% Louisiana Bancorp, Inc. 13,988 292,069 0.0% # Macatawa Bank Corp. 137,897 718,443 0.0% # Maiden Holdings, Ltd. 261,236 3,121,770 0.1% # MainSource Financial Group, Inc. 88,279 1,605,795 0.0% * Malvern Bancorp, Inc. 500 5,610 0.0% # Marlin Business Services Corp. 58,904 1,245,231 0.0% #* Maui Land & Pineapple Co., Inc. 817 4,992 0.0% MB Financial, Inc. 325,428 10,267,253 0.2% #* MBIA, Inc. 871,365 8,504,522 0.2% * MBT Financial Corp. 57,990 269,654 0.0% # Meadowbrook Insurance Group, Inc. 217,301 1,384,207 0.0% # Medallion Financial Corp. 38,723 447,251 0.0% # Mercantile Bank Corp. 38,125 752,206 0.0% # Merchants Bancshares, Inc. 21,474 639,710 0.0% Mercury General Corp. 89,253 4,741,119 0.1% # Meta Financial Group, Inc. 6,472 242,765 0.0% * Metro Bancorp, Inc. 66,562 1,666,713 0.0% MicroFinancial, Inc. 47,148 395,572 0.0% Mid Penn Bancorp, Inc. 106 1,642 0.0% # MidSouth Bancorp, Inc. 25,215 477,572 0.0% # MidWestOne Financial Group, Inc. 5,585 149,008 0.0% # Montpelier Re Holdings, Ltd. 304,755 10,099,581 0.2% MutualFirst Financial, Inc. 6,233 135,568 0.0% # NASDAQ OMX Group, Inc. (The) 858,799 37,151,645 0.7% # National Bank Holdings Corp. Class A 34,172 669,429 0.0% # National Interstate Corp. 14,068 400,094 0.0% National Penn Bancshares, Inc. 584,597 6,015,508 0.1% # National Security Group, Inc. (The) 2,423 32,977 0.0% # National Western Life Insurance Co. Class A 5,342 1,447,682 0.0% * Naugatuck Valley Financial Corp. 3,979 31,633 0.0% Navient Corp. 385,587 7,626,911 0.1% * Navigators Group, Inc. (The) 67,657 4,606,765 0.1% # NBT Bancorp, Inc. 121,504 3,120,223 0.1% Nelnet, Inc. Class A 156,407 7,443,409 0.1% # New Hampshire Thrift Bancshares, Inc. 2,568 40,626 0.0% # New York Community Bancorp, Inc. 1,321,540 21,078,563 0.4% * NewBridge Bancorp 61,254 544,548 0.0% #* NewStar Financial, Inc. 256,825 3,513,366 0.1% Nicholas Financial, Inc. 8,089 98,767 0.0% Northeast Bancorp 3,941 35,508 0.0% Northeast Community Bancorp, Inc. 12,202 85,414 0.0% # Northfield Bancorp, Inc. 119,891 1,707,248 0.0% Northrim BanCorp, Inc. 16,279 470,463 0.0% # Northwest Bancshares, Inc. 383,868 4,925,026 0.1% # Norwood Financial Corp. 368 10,661 0.0% # Ocean Shore Holding Co. 3,063 44,107 0.0% OceanFirst Financial Corp. 66,484 1,101,640 0.0% OFG Bancorp 216,486 3,370,687 0.1% Ohio Valley Banc Corp. 2,740 65,404 0.0% Old National Bancorp 434,668 6,324,419 0.1% Old Republic International Corp. 1,182,426 17,464,432 0.3% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) * Old Second Bancorp, Inc. 36,709 $ 176,203 0.0% OmniAmerican Bancorp, Inc. 49,613 1,341,536 0.0% OneBeacon Insurance Group, Ltd. Class A 108,664 1,731,018 0.0% Oneida Financial Corp. 100 1,311 0.0% Oppenheimer Holdings, Inc. Class A 16,147 396,409 0.0% Oritani Financial Corp. 150,320 2,220,226 0.0% Pacific Continental Corp. 46,094 664,675 0.0% * Pacific Mercantile Bancorp 44,645 314,301 0.0% * Pacific Premier Bancorp, Inc. 32,040 518,728 0.0% PacWest Bancorp 232,213 9,906,207 0.2% # Park National Corp. 11,552 974,642 0.0% Park Sterling Corp. 129,135 989,174 0.0% PartnerRe, Ltd. 321,083 37,146,092 0.7% # Peapack Gladstone Financial Corp. 33,015 602,524 0.0% # Penns Woods Bancorp, Inc. 4,672 226,732 0.0% # People's United Financial, Inc. 1,543,963 22,572,739 0.4% Peoples Bancorp of North Carolina, Inc. 2,810 49,175 0.0% # Peoples Bancorp, Inc. 49,925 1,230,651 0.0% #* PHH Corp. 305,779 7,243,905 0.1% #* Phoenix Cos., Inc. (The) 18,657 1,107,480 0.0% #* PICO Holdings, Inc. 92,548 2,045,311 0.0% # Pinnacle Financial Partners, Inc. 160,571 6,294,383 0.1% #* Piper Jaffray Cos. 60,533 3,417,693 0.1% Platinum Underwriters Holdings, Ltd. 188,394 11,799,116 0.2% * Popular, Inc. 221,231 7,052,844 0.1% # Preferred Bank 27,513 731,296 0.0% Premier Financial Bancorp, Inc. 18,496 269,487 0.0% Primerica, Inc. 189,216 9,678,398 0.2% PrivateBancorp, Inc. 319,520 10,326,886 0.2% ProAssurance Corp. 79,749 3,730,658 0.1% # Prosperity Bancshares, Inc. 63,911 3,859,585 0.1% Protective Life Corp. 427,997 29,822,831 0.5% Provident Financial Holdings, Inc. 32,946 480,353 0.0% Provident Financial Services, Inc. 305,970 5,577,833 0.1% Prudential Bancorp, Inc. 4,416 53,566 0.0% Pulaski Financial Corp. 31,221 373,715 0.0% #* QC Holdings, Inc. 80,189 136,321 0.0% QCR Holdings, Inc. 1,144 20,306 0.0% Reinsurance Group of America, Inc. 325,844 27,452,357 0.5% # RenaissanceRe Holdings, Ltd. 95,595 9,877,831 0.2% # Renasant Corp. 126,056 3,800,588 0.1% # Republic Bancorp, Inc. Class A 29,523 715,933 0.0% * Republic First Bancorp, Inc. 2,800 11,116 0.0% # Resource America, Inc. Class A 83,429 795,913 0.0% * Riverview Bancorp, Inc. 60,827 247,566 0.0% # RLI Corp. 86,268 4,278,030 0.1% # S&T Bancorp, Inc. 138,319 3,816,221 0.1% #* Safeguard Scientifics, Inc. 101,553 2,025,982 0.0% Safety Insurance Group, Inc. 80,740 5,036,561 0.1% # Sandy Spring Bancorp, Inc. 105,576 2,723,861 0.1% #* Seacoast Banking Corp. of Florida 19,956 254,639 0.0% * Security National Financial Corp. Class A 20,689 103,238 0.0% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) * Select Bancorp, Inc. 700 $ 4,739 0.0% Selective Insurance Group, Inc. 252,402 6,517,020 0.1% #* Shore Bancshares, Inc. 3,713 34,085 0.0% SI Financial Group, Inc. 10,099 111,493 0.0% # Sierra Bancorp 32,507 557,820 0.0% Simmons First National Corp. Class A 63,943 2,684,967 0.1% Simplicity Bancorp, Inc. 24,325 403,065 0.0% South State Corp. 67,362 4,062,602 0.1% * Southcoast Financial Corp. 1,800 12,492 0.0% (Degree) Southern Community Financial Corp. 34,147 31,610 0.0% * Southern First Bancshares, Inc. 3,147 45,757 0.0% Southern Missouri Bancorp, Inc. 593 21,923 0.0% # Southern National Bancorp of Virginia, Inc. 2,149 24,885 0.0% # Southside Bancshares, Inc. 57,640 1,935,551 0.0% Southwest Bancorp, Inc. 87,892 1,584,693 0.0% Southwest Georgia Financial Corp. 2,355 31,793 0.0% StanCorp Financial Group, Inc. 170,098 11,832,017 0.2% # State Auto Financial Corp. 133,304 2,790,053 0.1% Sterling Bancorp 307,455 4,322,817 0.1% Stewart Information Services Corp. 100,223 3,539,876 0.1% * Stifel Financial Corp. 300 14,253 0.0% # Stock Yards Bancorp, Inc. 6,472 215,388 0.0% * Stratus Properties, Inc. 1,430 19,763 0.0% # Suffolk Bancorp 87,728 2,014,235 0.0% Summit State Bank 2,721 35,074 0.0% #* Sun Bancorp, Inc. 26,213 529,503 0.0% Susquehanna Bancshares, Inc. 1,004,967 9,858,726 0.2% Sussex Bancorp 639 6,422 0.0% Symetra Financial Corp. 429,514 10,179,482 0.2% Synovus Financial Corp. 237,815 6,030,988 0.1% TCF Financial Corp. 684,525 10,575,911 0.2% # Territorial Bancorp, Inc. 24,606 528,537 0.0% Timberland Bancorp, Inc. 12,743 134,566 0.0% # Tompkins Financial Corp. 46,333 2,325,917 0.0% # Towne Bank 79,009 1,197,776 0.0% #* Transcontinental Realty Investors, Inc. 800 9,200 0.0% #* Tree.com, Inc. 26,260 971,357 0.0% # Trico Bancshares 70,103 1,843,700 0.0% #* Trinity Place Holdings, Inc. 37,307 214,888 0.0% # TrustCo Bank Corp. 366,307 2,674,041 0.1% # Trustmark Corp. 263,166 6,402,829 0.1% # UMB Financial Corp. 130,456 7,772,569 0.1% Umpqua Holdings Corp. 219,133 3,856,741 0.1% Union Bankshares Corp. 184,879 4,156,080 0.1% United Bancshares, Inc. 466 6,906 0.0% # United Bankshares, Inc. 252,749 8,664,236 0.2% United Community Bancorp 1,645 19,625 0.0% United Community Banks, Inc. 156,126 2,814,952 0.1% United Community Financial Corp. 17,811 91,192 0.0% United Financial Bancorp, Inc. 175,565 2,463,177 0.1% # United Fire Group, Inc. 118,756 3,857,195 0.1% * United Security Bancshares 2,078 11,741 0.0% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) Unity Bancorp, Inc. 6,360 $ 58,258 0.0% Universal Insurance Holdings, Inc. 89,364 1,563,870 0.0% # Univest Corp. of Pennsylvania 49,360 1,012,867 0.0% Validus Holdings, Ltd. 405,498 16,130,710 0.3% # ViewPoint Financial Group, Inc. 157,235 4,287,798 0.1% #* Walker & Dunlop, Inc. 69,915 1,126,331 0.0% # Washington Federal, Inc. 411,710 8,987,629 0.2% # Washington Trust Bancorp, Inc. 64,920 2,490,980 0.1% Waterstone Financial, Inc. 70,035 857,228 0.0% Wayne Savings Bancshares, Inc. 520 6,682 0.0% # Webster Financial Corp. 366,318 11,480,406 0.2% # WesBanco, Inc. 122,325 4,215,320 0.1% # West Bancorporation, Inc. 62,887 1,042,666 0.0% * Western Alliance Bancorp 277,129 7,377,174 0.1% Westfield Financial, Inc. 131,049 926,516 0.0% White Mountains Insurance Group, Ltd. 7,949 4,967,489 0.1% # Wilshire Bancorp, Inc. 358,042 3,544,616 0.1% Wintrust Financial Corp. 231,325 10,714,974 0.2% WR Berkley Corp. 351,005 18,090,798 0.3% WSFS Financial Corp. 22,895 1,800,692 0.0% WVS Financial Corp. 111 1,213 0.0% * Yadkin Financial Corp. 8,754 169,915 0.0% Zions Bancorporation 948,371 27,474,308 0.5% -------------------- ------------------ Total Financials 1,414,009,095 25.3% -------------------- ------------------ Health Care -- (5.6%) #* Addus HomeCare Corp. 38,896 772,864 0.0% #* Affymetrix, Inc. 441,761 3,980,267 0.1% #* Albany Molecular Research, Inc. 143,811 3,345,044 0.1% * Alere, Inc. 361,377 14,444,239 0.3% #* Allied Healthcare Products, Inc. 2,597 4,882 0.0% * Almost Family, Inc. 43,727 1,287,323 0.0% #* Alphatec Holdings, Inc. 147,075 223,554 0.0% #* Amedisys, Inc. 178,820 4,667,202 0.1% * American Shared Hospital Services 4,548 9,869 0.0% * AMN Healthcare Services, Inc. 93,637 1,605,875 0.0% #* Amsurg Corp. 190,443 10,285,826 0.2% # Analogic Corp. 46,453 3,388,282 0.1% #* AngioDynamics, Inc. 140,293 2,384,981 0.0% #* Anika Therapeutics, Inc. 71,639 2,875,589 0.1% * Arqule, Inc. 8,633 9,928 0.0% * Arrhythmia Research Technology, Inc. 600 3,870 0.0% * AVEO Pharmaceuticals, Inc. 12,600 12,222 0.0% * Bio-Rad Laboratories, Inc. Class A 20,839 2,351,056 0.0% #* BioScrip, Inc. 278,318 1,797,934 0.0% #* BioTelemetry, Inc. 99,971 838,757 0.0% * Cambrex Corp. 155,414 3,276,127 0.1% Cantel Medical Corp. 8,365 354,676 0.0% #* Capital Senior Living Corp. 90,913 2,045,542 0.0% * Community Health Systems, Inc. 490,559 26,966,028 0.5% CONMED Corp. 141,317 5,933,901 0.1% (Degree) Contra Furiex Pharmaceuticals 10,318 100,807 0.0% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Health Care -- (Continued) #* Cross Country Healthcare, Inc. 127,342 $ 1,231,397 0.0% CryoLife, Inc. 108,028 1,108,367 0.0% #* Cumberland Pharmaceuticals, Inc. 90,380 442,862 0.0% * Cutera, Inc. 68,829 722,704 0.0% * Cynosure, Inc. Class A 69,710 1,762,966 0.0% Digirad Corp. 88,544 380,739 0.0% #* Emergent Biosolutions, Inc. 142,563 3,224,775 0.1% Ensign Group, Inc. (The) 30,899 1,196,409 0.0% * Enzo Biochem, Inc. 132,897 693,722 0.0% * Exactech, Inc. 44,462 947,041 0.0% #* ExamWorks Group, Inc. 5,465 211,933 0.0% * Five Star Quality Care, Inc. 218,412 902,042 0.0% * Gentiva Health Services, Inc. 121,253 2,388,684 0.1% * Greatbatch, Inc. 135,788 6,815,200 0.1% * Haemonetics Corp. 100,889 3,805,533 0.1% * Hanger, Inc. 111,931 2,678,509 0.1% #* Harvard Apparatus Regenerative Technology, Inc. 37,209 233,673 0.0% * Harvard Bioscience, Inc. 148,840 714,432 0.0% * Health Net, Inc. 68,156 3,238,092 0.1% #* Healthways, Inc. 204,778 3,174,059 0.1% Hill-Rom Holdings, Inc. 191,973 8,538,959 0.2% #* Hologic, Inc. 433,066 11,341,999 0.2% * ICU Medical, Inc. 35,676 2,529,428 0.1% #* Idera Pharmaceuticals, Inc. 70,179 178,956 0.0% * Impax Laboratories, Inc. 205,066 5,940,762 0.1% #* InfuSystems Holdings, Inc. 9,905 39,026 0.0% #* Integra LifeSciences Holdings Corp. 99,829 5,102,260 0.1% # Invacare Corp. 167,384 2,629,603 0.1% #* IPC The Hospitalist Co., Inc. 29,331 1,221,929 0.0% Kewaunee Scientific Corp. 8,388 145,951 0.0% Kindred Healthcare, Inc. 301,101 6,548,947 0.1% #* Lannett Co., Inc. 36,246 2,055,873 0.0% LeMaitre Vascular, Inc. 73,991 541,614 0.0% #* LHC Group, Inc. 79,076 1,925,501 0.0% * LifePoint Hospitals, Inc. 233,325 16,332,750 0.3% * Magellan Health Services, Inc. 140,801 8,521,276 0.2% #* Mallinckrodt P.L.C. 36,914 3,402,733 0.1% #* MedAssets, Inc. 246,555 5,340,381 0.1% (Degree)* MedCath Corp. 103,153 -- 0.0% * Medicines Co. (The) 141,955 3,594,301 0.1% #* MediciNova, Inc. 23,798 84,959 0.0% #* Merit Medical Systems, Inc. 74,869 1,134,265 0.0% * Misonix, Inc. 5,883 78,597 0.0% #* Molina Healthcare, Inc. 276,308 13,439,621 0.2% National Healthcare Corp. 29,447 1,775,949 0.0% * Natus Medical, Inc. 174,102 5,919,468 0.1% * NuVasive, Inc. 128,929 5,273,196 0.1% Omnicare, Inc. 597,354 39,777,803 0.7% * Omnicell, Inc. 228,895 7,395,597 0.1% #* OraSure Technologies, Inc. 10,559 94,503 0.0% * Orthofix International NV 24,994 733,574 0.0% # Owens & Minor, Inc. 230,376 7,676,128 0.1% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Health Care -- (Continued) #* Pacific Biosciences of California, Inc. 47,647 $ 312,564 0.0% Paratek Pharmaceuticals, Inc. 5,099 82,860 0.0% * PDI, Inc. 111,537 202,997 0.0% * PharMerica Corp. 153,288 4,397,833 0.1% #* PhotoMedex, Inc. 6,849 26,300 0.0% # Pozen, Inc. 54,234 491,902 0.0% #* Prestige Brands Holdings, Inc. 313,269 11,095,988 0.2% * Providence Service Corp. (The) 43,419 1,918,251 0.0% #* Repligen Corp. 112,834 2,845,673 0.1% #* Rigel Pharmaceuticals, Inc. 40,900 80,982 0.0% #* RTI Surgical, Inc. 275,919 1,404,428 0.0% #* Sciclone Pharmaceuticals, Inc. 334,998 2,559,385 0.1% # Select Medical Holdings Corp. 525,572 7,578,748 0.1% * Skilled Healthcare Group, Inc. Class A 63,759 441,850 0.0% Span-America Medical Systems, Inc. 6,608 124,561 0.0% # STERIS Corp. 29,877 1,846,399 0.0% #* Sucampo Pharmaceuticals, Inc. Class A 50,082 431,707 0.0% * Symmetry Medical, Inc. 193,018 1,910,878 0.0% #* Targacept, Inc. 23,151 54,173 0.0% Teleflex, Inc. 102,939 11,747,399 0.2% #* Tornier NV 40,308 1,126,609 0.0% * Triple-S Management Corp. Class B 99,672 2,206,738 0.0% * Universal American Corp. 380,924 3,550,212 0.1% * VCA, Inc. 189,217 8,622,619 0.2% * WellCare Health Plans, Inc. 92,035 6,246,415 0.1% -------------------- ------------------ Total Health Care 369,463,164 6.6% -------------------- ------------------ Industrials -- (15.1%) # AAR Corp. 206,357 5,468,461 0.1% ABM Industries, Inc. 219,535 6,067,947 0.1% # Acacia Research Corp. 13,695 246,510 0.0% * ACCO Brands Corp. 296,841 2,443,001 0.1% * Accuride Corp. 37,220 179,400 0.0% Aceto Corp. 154,305 3,508,896 0.1% Acme United Corp. 12,718 219,386 0.0% Actuant Corp. Class A 278,739 8,833,239 0.2% #* Adept Technology, Inc. 46,972 332,562 0.0% # ADT Corp. (The) 528,226 18,931,620 0.3% * AECOM Technology Corp. 512,366 16,677,521 0.3% #* Aegion Corp. 186,883 3,423,697 0.1% #* AeroCentury Corp. 782 8,696 0.0% * Aerovironment, Inc. 131,562 4,032,375 0.1% # AGCO Corp. 303,952 13,468,113 0.2% Air Lease Corp. 186,150 6,811,228 0.1% * Air Transport Services Group, Inc. 303,540 2,482,957 0.1% # Aircastle, Ltd. 64,444 1,229,592 0.0% Alamo Group, Inc. 63,138 2,704,832 0.1% Alaska Air Group, Inc. 430,272 22,903,379 0.4% Albany International Corp. Class A 142,582 5,386,748 0.1% Alliant Techsystems, Inc. 73,351 8,579,133 0.2% (Degree) Allied Defense Group, Inc. 20,781 1,662 0.0% Allied Motion Technologies, Inc. 9,325 136,891 0.0% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) * Alpha PRO Tech, Ltd. 11,540 $ 38,890 0.0% Altra Industrial Motion Corp. 144,296 4,548,210 0.1% AMERCO 84,246 22,840,776 0.4% #* Ameresco, Inc. Class A 16,150 133,076 0.0% # American Railcar Industries, Inc. 121,307 7,983,214 0.2% American Science & Engineering, Inc. 11,032 610,070 0.0% #* American Superconductor Corp. 54,350 71,199 0.0% * American Woodmark Corp. 4,684 191,622 0.0% #* AMREP Corp. 7,243 28,175 0.0% # Apogee Enterprises, Inc. 139,577 6,127,430 0.1% Applied Industrial Technologies, Inc. 158,815 7,751,760 0.1% * ARC Document Solutions, Inc. 130,197 1,321,500 0.0% ArcBest Corp. 152,757 5,911,696 0.1% Argan, Inc. 14,857 517,172 0.0% #* Arotech Corp. 11,970 35,312 0.0% # Astec Industries, Inc. 85,468 3,240,092 0.1% #* Atlas Air Worldwide Holdings, Inc. 151,882 5,607,483 0.1% * Avalon Holdings Corp. Class A 1,925 6,738 0.0% * Avis Budget Group, Inc. 665,365 37,094,099 0.7% # AZZ, Inc. 82,035 3,835,957 0.1% # Baltic Trading, Ltd. 54,155 203,081 0.0% Barnes Group, Inc. 238,149 8,706,727 0.2% # Barrett Business Services, Inc. 25,680 603,737 0.0% #* Beacon Roofing Supply, Inc. 171,564 4,747,176 0.1% * Blount International, Inc. 9,261 141,786 0.0% * BlueLinx Holdings, Inc. 217,402 260,882 0.0% Brady Corp. Class A 155,115 3,697,942 0.1% * Breeze-Eastern Corp. 38,653 402,378 0.0% # Briggs & Stratton Corp. 259,610 5,246,718 0.1% Brink's Co. (The) 110,972 2,330,412 0.1% #* CAI International, Inc. 79,003 1,663,013 0.0% #* Casella Waste Systems, Inc. Class A 51,792 233,064 0.0% #* CBIZ, Inc. 199,810 1,844,246 0.0% CDI Corp. 103,738 1,783,256 0.0% # Ceco Environmental Corp. 34,172 489,343 0.0% Celadon Group, Inc. 133,198 2,592,033 0.1% Chicago Rivet & Machine Co. 2,310 71,679 0.0% CIRCOR International, Inc. 84,843 6,375,951 0.1% Civeo Corp. 229,504 2,797,654 0.1% # CLARCOR, Inc. 22,361 1,497,293 0.0% #* Clean Harbors, Inc. 113,517 5,633,849 0.1% Columbus McKinnon Corp. 95,290 2,711,001 0.1% # Comfort Systems USA, Inc. 195,774 3,007,089 0.1% Compx International, Inc. 5,019 55,861 0.0% Con-way, Inc. 231,114 10,023,414 0.2% # Copa Holdings SA Class A 53,920 6,304,326 0.1% Courier Corp. 52,547 713,063 0.0% # Covanta Holding Corp. 428,622 9,459,688 0.2% * Covenant Transportation Group, Inc. Class A 47,010 974,987 0.0% #* CPI Aerostructures, Inc. 30,852 294,637 0.0% * CRA International, Inc. 46,319 1,389,570 0.0% #* CTPartners Executive Search, Inc. 1,700 31,025 0.0% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) Cubic Corp. 20,308 $ 979,658 0.0% Curtiss-Wright Corp. 255,204 17,662,669 0.3% * DigitalGlobe, Inc. 111,480 3,187,213 0.1% Douglas Dynamics, Inc. 100,626 2,085,977 0.0% * Ducommun, Inc. 49,344 1,303,175 0.0% #* Dycom Industries, Inc. 145,296 4,560,841 0.1% Dynamic Materials Corp. 46,437 845,618 0.0% * Eagle Bulk Shipping, Inc. 41 672 0.0% Eastern Co. (The) 14,578 237,913 0.0% Ecology and Environment, Inc. Class A 8,425 83,323 0.0% EMCOR Group, Inc. 21,135 932,688 0.0% Encore Wire Corp. 110,081 4,176,473 0.1% #* Energy Recovery, Inc. 67,980 311,348 0.0% # EnerSys 132,748 8,336,574 0.2% #* Engility Holdings, Inc. 36,542 1,578,614 0.0% Ennis, Inc. 141,695 2,101,337 0.0% * EnPro Industries, Inc. 110,538 7,133,017 0.1% # ESCO Technologies, Inc. 100,993 3,839,754 0.1% # Espey Manufacturing & Electronics Corp. 7,809 148,371 0.0% #* Esterline Technologies Corp. 119,329 13,974,619 0.3% Exelis, Inc. 325,018 5,801,571 0.1% Federal Signal Corp. 280,838 3,987,900 0.1% #* Franklin Covey Co. 118,421 2,322,236 0.0% # Franklin Electric Co., Inc. 10,965 409,433 0.0% FreightCar America, Inc. 60,137 1,982,717 0.0% #* FTI Consulting, Inc. 189,885 7,667,556 0.1% #* Fuel Tech, Inc. 57,322 232,154 0.0% * Furmanite Corp. 77,307 578,256 0.0% G&K Services, Inc. Class A 95,020 5,992,911 0.1% # GATX Corp. 229,076 14,523,418 0.3% #* Gencor Industries, Inc. 23,849 231,097 0.0% # General Cable Corp. 278,409 3,945,056 0.1% #* Genesee & Wyoming, Inc. Class A 46,696 4,492,155 0.1% * Gibraltar Industries, Inc. 145,546 2,219,577 0.0% # Global Power Equipment Group, Inc. 8,191 111,643 0.0% #* Goldfield Corp. (The) 16,385 31,459 0.0% * GP Strategies Corp. 86,740 2,876,298 0.1% #* GrafTech International, Ltd. 366,018 1,570,217 0.0% # Granite Construction, Inc. 181,301 6,691,820 0.1% * Great Lakes Dredge & Dock Corp. 297,689 2,080,846 0.0% # Greenbrier Cos., Inc. (The) 152,823 9,557,550 0.2% Griffon Corp. 279,210 3,431,491 0.1% H&E Equipment Services, Inc. 142,208 5,317,157 0.1% Hardinge, Inc. 51,860 581,869 0.0% #* Hawaiian Holdings, Inc. 314,551 5,454,314 0.1% Heidrick & Struggles International, Inc. 81,043 1,687,315 0.0% * Heritage-Crystal Clean, Inc. 1,852 33,595 0.0% * Hill International, Inc. 142,280 552,046 0.0% Houston Wire & Cable Co. 133,594 1,811,535 0.0% * Hub Group, Inc. Class A 194,337 7,052,490 0.1% * Hudson Global, Inc. 119,294 406,793 0.0% Huntington Ingalls Industries, Inc. 20,056 2,122,326 0.0% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) Hurco Cos., Inc. 34,584 $ 1,332,522 0.0% * Huron Consulting Group, Inc. 89,163 6,206,636 0.1% Hyster-Yale Materials Handling, Inc. 62,641 4,916,692 0.1% #* ICF International, Inc. 73,150 2,658,271 0.1% #* InnerWorkings, Inc. 39,318 357,007 0.0% #* Innovative Solutions & Support, Inc. 9,704 27,074 0.0% # Insteel Industries, Inc. 84,828 2,022,300 0.0% * Integrated Electrical Services, Inc. 40,643 322,299 0.0% # International Shipholding Corp. 26,279 526,631 0.0% # Intersections, Inc. 43,923 175,692 0.0% #* Jacobs Engineering Group, Inc. 91,041 4,319,895 0.1% #* JetBlue Airways Corp. 1,516,297 17,498,067 0.3% # Joy Global, Inc. 218,756 11,513,128 0.2% Kadant, Inc. 36,328 1,501,800 0.0% # Kaman Corp. 84,680 3,646,321 0.1% KBR, Inc. 64,661 1,233,732 0.0% # Kelly Services, Inc. Class A 168,394 2,968,786 0.1% # Kennametal, Inc. 14,397 555,868 0.0% * Key Technology, Inc. 23,834 315,562 0.0% # Kforce, Inc. 1,104 25,558 0.0% # Kimball International, Inc. Class B 161,322 2,900,570 0.1% * Kirby Corp. 118,556 13,109,922 0.2% # Knight Transportation, Inc. 296,033 8,661,926 0.2% # Knightsbridge Shipping, Ltd. 121,293 1,064,953 0.0% * Korn/Ferry International 205,944 5,752,016 0.1% #* Kratos Defense & Security Solutions, Inc. 223,236 1,555,955 0.0% * Lawson Products, Inc. 39,074 940,902 0.0% #* Layne Christensen Co. 99,974 719,813 0.0% LB Foster Co. Class A 42,987 2,325,167 0.0% #* LMI Aerospace, Inc. 63,379 835,335 0.0% LS Starrett Co. (The) Class A 23,326 344,758 0.0% # LSI Industries, Inc. 107,928 772,764 0.0% * Lydall, Inc. 82,151 2,540,930 0.1% Manpowergroup, Inc. 112,752 7,526,196 0.1% Marten Transport, Ltd. 156,725 3,074,945 0.1% #* MasTec, Inc. 197,905 5,667,999 0.1% Mastech Holdings, Inc. 1,377 16,180 0.0% Matson, Inc. 179,755 5,121,220 0.1% # Matthews International Corp. Class A 115,223 5,309,476 0.1% # McGrath RentCorp 94,788 3,462,606 0.1% * Mfri, Inc. 27,948 254,886 0.0% # Miller Industries, Inc. 63,420 1,253,813 0.0% * Mistras Group, Inc. 35,742 589,386 0.0% # Mobile Mini, Inc. 256,466 11,240,905 0.2% #* Moog, Inc. Class A 58,798 4,500,399 0.1% * MRC Global, Inc. 158,015 3,323,055 0.1% # Mueller Industries, Inc. 235,801 7,654,100 0.1% Mueller Water Products, Inc. Class A 579,073 5,715,451 0.1% # Multi-Color Corp. 54,669 2,695,182 0.1% * MYR Group, Inc. 111,677 2,896,901 0.1% # National Presto Industries, Inc. 7,322 461,725 0.0% * Navigant Consulting, Inc. 190,140 2,926,255 0.1% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) # NL Industries, Inc. 87,722 $ 639,493 0.0% NN, Inc. 86,492 2,162,300 0.0% * Northwest Pipe Co. 45,902 1,642,374 0.0% #* Ocean Power Technologies, Inc. 41,206 41,206 0.0% * On Assignment, Inc. 196,712 5,724,319 0.1% * Orbital Sciences Corp. 226,202 5,949,113 0.1% #* Orion Energy Systems, Inc. 62,426 358,950 0.0% #* Orion Marine Group, Inc. 62,421 684,134 0.0% # Oshkosh Corp. 147,415 6,598,295 0.1% Owens Corning 624,093 20,008,422 0.4% #* PAM Transportation Services, Inc. 37,772 1,623,441 0.0% Park-Ohio Holdings Corp. 999 53,057 0.0% * Patrick Industries, Inc. 9,440 403,277 0.0% #* Patriot Transportation Holding, Inc. 12,953 548,689 0.0% * Pendrell Corp. 20,276 33,861 0.0% * PGT, Inc. 20,084 188,890 0.0% * Pike Corp. 156,502 1,868,634 0.0% #* PMFG, Inc. 1,946 10,236 0.0% # Powell Industries, Inc. 43,165 1,965,302 0.0% #* PowerSecure International, Inc. 96,570 1,078,687 0.0% # Preformed Line Products Co. 18,849 1,074,205 0.0% Providence and Worcester Railroad Co. 2,567 45,667 0.0% Quad/Graphics, Inc. 43,108 950,531 0.0% # Quanex Building Products Corp. 138,650 2,775,773 0.1% * Quanta Services, Inc. 631,307 21,514,943 0.4% * Radiant Logistics, Inc. 21,320 82,508 0.0% # RBC Bearings, Inc. 21,224 1,289,358 0.0% #* RCM Technologies, Inc. 41,207 310,701 0.0% Regal-Beloit Corp. 76,084 5,399,681 0.1% #* Republic Airways Holdings, Inc. 242,281 3,033,358 0.1% Resources Connection, Inc. 133,574 2,066,390 0.0% * Roadrunner Transportation Systems, Inc. 100,378 2,068,791 0.0% * RPX Corp. 153,615 2,158,291 0.0% #* Rush Enterprises, Inc. Class A 139,034 5,297,195 0.1% * Rush Enterprises, Inc. Class B 1,650 53,345 0.0% Ryder System, Inc. 309,611 27,391,285 0.5% * Saia, Inc. 130,975 6,420,394 0.1% # SIFCO Industries, Inc. 15,578 529,964 0.0% Simpson Manufacturing Co., Inc. 181,881 6,016,623 0.1% SkyWest, Inc. 255,435 2,942,611 0.1% * SL Industries, Inc. 15,541 699,345 0.0% * SP Plus Corp. 14,723 321,256 0.0% * Sparton Corp. 49,588 1,343,835 0.0% #* Standard Register Co. (The) 21,927 112,266 0.0% Standex International Corp. 60,488 5,217,090 0.1% #* Sterling Construction Co., Inc. 77,398 682,650 0.0% Supreme Industries, Inc. Class A 28,653 190,542 0.0% # TAL International Group, Inc. 216,260 9,327,294 0.2% * Team, Inc. 39,982 1,684,841 0.0% * Tecumseh Products Co. 51,188 188,884 0.0% # Terex Corp. 199,602 5,742,550 0.1% Tetra Tech, Inc. 236,184 6,332,093 0.1% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) # Textainer Group Holdings, Ltd. 10,689 $ 368,129 0.0% * Thermon Group Holdings, Inc. 1,017 24,784 0.0% Timken Co. (The) 144,998 6,233,464 0.1% # Titan International, Inc. 187,506 1,980,063 0.0% #* Titan Machinery, Inc. 121,425 1,670,808 0.0% #* Transcat, Inc. 5,948 62,513 0.0% * TRC Cos., Inc. 11,066 80,560 0.0% * Trimas Corp. 104,911 3,321,482 0.1% # Trinity Industries, Inc. 970,590 34,659,769 0.6% Triumph Group, Inc. 90,826 6,324,214 0.1% * TrueBlue, Inc. 8,516 210,516 0.0% #* Tutor Perini Corp. 226,228 6,336,646 0.1% Twin Disc, Inc. 46,625 1,213,183 0.0% * Ultralife Corp. 84,726 268,581 0.0% UniFirst Corp. 76,293 8,511,247 0.2% # United Stationers, Inc. 153,483 6,410,985 0.1% Universal Forest Products, Inc. 93,810 4,687,686 0.1% #* USA Truck, Inc. 51,322 867,342 0.0% #* UTi Worldwide, Inc. 173,996 1,901,776 0.0% # Valmont Industries, Inc. 47,654 6,489,045 0.1% * Vectrus, Inc. 12,541 306,502 0.0% * Versar, Inc. 35,947 116,828 0.0% Viad Corp. 100,377 2,560,617 0.1% * Virco Manufacturing Corp. 19,199 52,029 0.0% * Volt Information Sciences, Inc. 53,723 445,364 0.0% # VSE Corp. 15,736 948,566 0.0% #* Wabash National Corp. 89,871 925,671 0.0% Waste Connections, Inc. 287,882 14,365,312 0.3% # Watts Water Technologies, Inc. Class A 144,348 8,751,819 0.2% # Werner Enterprises, Inc. 287,529 7,918,549 0.1% #* Wesco Aircraft Holdings, Inc. 214,695 3,810,836 0.1% #* WESCO International, Inc. 65,065 5,362,007 0.1% #* Willdan Group, Inc. 6,323 82,958 0.0% * Willis Lease Finance Corp. 12,818 292,379 0.0% # Woodward, Inc. 20,739 1,062,044 0.0% #* XPO Logistics, Inc. 87,473 3,491,922 0.1% -------------------- ------------------ Total Industrials 1,001,798,521 17.9% -------------------- ------------------ Information Technology -- (12.0%) #* Acorn Energy, Inc. 12,228 12,839 0.0% * Actua Corp. 107,744 2,025,587 0.0% * Acxiom Corp. 117,570 2,215,019 0.1% #* ADDvantage Technologies Group, Inc. 11,887 28,648 0.0% # ADTRAN, Inc. 94,563 2,005,681 0.0% * Advanced Energy Industries, Inc. 217,892 4,309,904 0.1% #* Agilysys, Inc. 89,456 1,010,853 0.0% #* Alpha & Omega Semiconductor, Ltd. 36,572 339,022 0.0% American Software, Inc. Class A 8,765 84,670 0.0% * Amkor Technology, Inc. 846,260 5,737,643 0.1% * Amtech Systems, Inc. 50,698 533,850 0.0% #* ANADIGICS, Inc. 247,601 175,797 0.0% Anixter International, Inc. 15,277 1,301,142 0.0% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) * AOL, Inc. 435,272 $ 18,947,390 0.4% * ARRIS Group, Inc. 451,805 13,563,186 0.3% * Arrow Electronics, Inc. 510,838 29,046,249 0.5% #* Ascent Solar Technologies, Inc. 3,184 5,604 0.0% Astro-Med, Inc. 24,407 327,298 0.0% #* Aviat Networks, Inc. 254,758 448,374 0.0% * Avid Technology, Inc. 39,919 401,186 0.0% Avnet, Inc. 659,675 28,530,944 0.5% AVX Corp. 505,776 7,303,405 0.1% Aware, Inc. 55,296 238,879 0.0% * Axcelis Technologies, Inc. 203,635 443,924 0.0% * AXT, Inc. 186,167 439,354 0.0% #* Bankrate, Inc. 193,657 2,103,115 0.0% Bel Fuse, Inc. Class A 3,065 77,851 0.0% Bel Fuse, Inc. Class B 46,351 1,311,270 0.0% * Benchmark Electronics, Inc. 298,403 7,078,119 0.1% Black Box Corp. 82,688 1,818,309 0.0% #* Blucora, Inc. 226,372 3,837,005 0.1% * BroadVision, Inc. 22,469 178,853 0.0% Brocade Communications Systems, Inc. 1,765,119 18,939,727 0.4% Brooks Automation, Inc. 310,373 3,826,899 0.1% * Bsquare Corp. 9,644 37,708 0.0% * BTU International, Inc. 17,003 56,620 0.0% #* CACI International, Inc. Class A 140,211 11,537,963 0.2% #* Calix, Inc. 202,390 2,187,836 0.1% * Cartesian, Inc. 4,096 16,015 0.0% #* Cascade Microtech, Inc. 54,166 581,743 0.0% #* Ceva, Inc. 23,923 389,945 0.0% * Checkpoint Systems, Inc. 168,666 2,236,511 0.1% #* CIBER, Inc. 350,209 1,145,183 0.0% #* Cirrus Logic, Inc. 234,158 4,519,249 0.1% * Coherent, Inc. 95,697 6,234,660 0.1% Cohu, Inc. 106,665 1,087,983 0.0% Communications Systems, Inc. 39,335 465,333 0.0% Computer Task Group, Inc. 2,165 19,052 0.0% Compuware Corp. 423,950 4,303,093 0.1% Comtech Telecommunications Corp. 116,145 4,421,640 0.1% Concurrent Computer Corp. 41,378 293,784 0.0% # Convergys Corp. 590,305 11,906,452 0.2% * CoreLogic, Inc. 308,671 9,683,009 0.2% * Covisint Corp. 59,460 171,839 0.0% # CSG Systems International, Inc. 139,860 3,707,689 0.1% CSP, Inc. 3,924 31,274 0.0% CTS Corp. 162,305 2,986,412 0.1% * CyberOptics Corp. 23,180 212,097 0.0% # Daktronics, Inc. 51,314 682,989 0.0% #* Datalink Corp. 76,153 963,335 0.0% #* Dealertrack Technologies, Inc. 32,942 1,549,921 0.0% #* Demand Media, Inc. 32,915 231,722 0.0% * Dice Holdings, Inc. 270,354 2,695,429 0.1% #* Digi International, Inc. 125,500 1,039,140 0.0% # Digimarc Corp. 3,527 102,248 0.0% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) * Digital River, Inc. 118,900 $ 3,040,273 0.1% * Diodes, Inc. 159,422 4,117,870 0.1% * DSP Group, Inc. 113,470 1,099,524 0.0% DST Systems, Inc. 66,000 6,359,100 0.1% * DTS, Inc. 42,057 1,252,457 0.0% # EarthLink Holdings Corp. 552,396 1,977,578 0.0% #* Eastman Kodak Co. 2,349 50,668 0.0% #* Echelon Corp. 7,475 15,698 0.0% * EchoStar Corp. Class A 180,895 8,453,223 0.2% * Edgewater Technology, Inc. 32,647 230,488 0.0% Electro Rent Corp. 121,380 1,849,831 0.0% # Electro Scientific Industries, Inc. 134,250 953,175 0.0% * Electronics for Imaging, Inc. 235,046 10,746,303 0.2% * Emcore Corp. 17,043 87,942 0.0% #* Emulex Corp. 367,715 2,081,267 0.0% #* EnerNOC, Inc. 122,028 1,802,354 0.0% * Entegris, Inc. 564,484 7,665,693 0.1% #* Entropic Communications, Inc. 267,467 668,668 0.0% # EPIQ Systems, Inc. 147,633 2,368,033 0.1% * ePlus, Inc. 38,437 2,347,348 0.1% * Euronet Worldwide, Inc. 17,001 912,444 0.0% #* Exar Corp. 219,016 2,091,603 0.0% * ExlService Holdings, Inc. 74,670 2,090,013 0.0% * Extreme Networks, Inc. 146,600 526,294 0.0% * Fabrinet 107,757 1,962,255 0.0% #* Fairchild Semiconductor International, Inc. 720,838 11,064,863 0.2% #* FARO Technologies, Inc. 34,147 1,912,232 0.0% #* Finisar Corp. 363,470 6,077,218 0.1% #* First Solar, Inc. 629,345 37,068,421 0.7% * FormFactor, Inc. 255,570 2,036,893 0.0% * Frequency Electronics, Inc. 31,401 356,401 0.0% * Global Cash Access Holdings, Inc. 232,394 1,694,152 0.0% Globalscape, Inc. 11,400 28,272 0.0% * GSE Systems, Inc. 70,034 105,751 0.0% * GSI Group, Inc. 34,731 446,293 0.0% #* GSI Technology, Inc. 75,957 365,353 0.0% Hackett Group, Inc. (The) 179,152 1,255,856 0.0% * Harmonic, Inc. 473,996 3,161,553 0.1% #* Hutchinson Technology, Inc. 104,496 373,051 0.0% # IAC/InterActiveCorp 85,365 5,778,357 0.1% * ID Systems, Inc. 54,528 408,960 0.0% * Identiv, Inc. 1,155 10,799 0.0% * IEC Electronics Corp. 8,769 43,407 0.0% * II-VI, Inc. 20,399 275,183 0.0% #* Imation Corp. 171,828 503,456 0.0% * Ingram Micro, Inc. Class A 789,039 21,177,807 0.4% * Innodata, Inc. 4,088 10,792 0.0% * Inphi Corp. 17,230 266,720 0.0% * Insight Enterprises, Inc. 219,712 4,998,448 0.1% * Integrated Device Technology, Inc. 457,074 7,500,584 0.1% # Integrated Silicon Solution, Inc. 138,479 1,880,545 0.0% #* Internap Network Services Corp. 336,121 2,692,329 0.1% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) * International Rectifier Corp. 389,755 $ 15,500,556 0.3% * Interphase Corp. 24,121 70,675 0.0% Intersil Corp. Class A 726,674 9,657,497 0.2% * inTEST Corp. 9,079 39,584 0.0% #* Intevac, Inc. 102,204 756,310 0.0% * IntraLinks Holdings, Inc. 77,375 668,520 0.0% * IntriCon Corp. 10,021 61,429 0.0% * Iteris, Inc. 16,517 28,740 0.0% #* Itron, Inc. 141,839 5,521,792 0.1% * Ixia 73,304 705,918 0.0% IXYS Corp. 143,506 1,674,715 0.0% # Jabil Circuit, Inc. 456,236 9,558,144 0.2% #* Kemet Corp. 128,833 618,398 0.0% * Key Tronic Corp. 56,373 463,386 0.0% #* Knowles Corp. 186,614 3,631,508 0.1% * Kofax, Ltd. 26,278 166,865 0.0% #* Kopin Corp. 223,993 851,173 0.0% * Kulicke & Soffa Industries, Inc. 399,262 5,757,358 0.1% * KVH Industries, Inc. 114,478 1,479,056 0.0% * Lattice Semiconductor Corp. 476,959 3,200,395 0.1% Leidos Holdings, Inc. 32,144 1,175,506 0.0% # Lexmark International, Inc. Class A 270,066 11,656,049 0.2% * Limelight Networks, Inc. 285,975 697,779 0.0% Littelfuse, Inc. 6,778 661,126 0.0% #* LoJack Corp. 34,931 98,505 0.0% * Magnachip Semiconductor Corp. 133,061 1,480,969 0.0% ManTech International Corp. Class A 110,545 3,112,947 0.1% Marchex, Inc. Class B 111,980 428,883 0.0% Marvell Technology Group, Ltd. 1,483,327 19,935,915 0.4% * Mattson Technology, Inc. 43,795 116,495 0.0% #* Maxwell Technologies, Inc. 89,495 1,043,512 0.0% Mentor Graphics Corp. 445,285 9,435,589 0.2% * Mercury Systems, Inc. 124,708 1,743,418 0.0% Methode Electronics, Inc. 223,562 8,803,872 0.2% Micrel, Inc. 21,313 258,740 0.0% * Microsemi Corp. 310,085 8,083,916 0.2% MKS Instruments, Inc. 288,661 10,507,260 0.2% MOCON, Inc. 11,177 172,461 0.0% #* ModusLink Global Solutions, Inc. 170,782 597,737 0.0% #* Monster Worldwide, Inc. 320,649 1,237,705 0.0% #* MoSys, Inc. 17,801 47,885 0.0% * Multi-Fineline Electronix, Inc. 84,449 857,157 0.0% #* Nanometrics, Inc. 52,387 709,320 0.0% * NAPCO Security Technologies, Inc. 33,409 142,991 0.0% * NCI, Inc. Class A 3,439 35,009 0.0% * NeoPhotonics Corp. 11,456 37,117 0.0% * NETGEAR, Inc. 110,781 3,770,985 0.1% * Newport Corp. 192,338 3,440,927 0.1% #* Novatel Wireless, Inc. 117,883 335,967 0.0% #* Oclaro, Inc. 198,548 311,720 0.0% * OmniVision Technologies, Inc. 357,023 9,561,076 0.2% * ON Semiconductor Corp. 568,138 4,709,864 0.1% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) Oplink Communications, Inc. 116,079 $ 2,420,247 0.1% # Optical Cable Corp. 28,064 130,217 0.0% #* OSI Systems, Inc. 70,107 4,969,184 0.1% * PAR Technology Corp. 55,165 283,493 0.0% # Park Electrochemical Corp. 61,084 1,575,967 0.0% PC Connection, Inc. 116,384 2,775,758 0.1% PC-Tel, Inc. 42,442 326,803 0.0% * PCM, Inc. 51,256 495,133 0.0% Perceptron, Inc. 40,400 406,828 0.0% * Perficient, Inc. 174,093 2,886,462 0.1% * Pericom Semiconductor Corp. 123,556 1,350,467 0.0% #* Photronics, Inc. 311,067 2,796,492 0.1% #* Planar Systems, Inc. 64,266 232,643 0.0% * Plexus Corp. 124,844 5,162,299 0.1% * PMC-Sierra, Inc. 865,801 6,744,590 0.1% * Polycom, Inc. 538,441 7,042,808 0.1% #* PRGX Global, Inc. 40,923 216,483 0.0% #* Procera Networks, Inc. 31,698 237,418 0.0% * Progress Software Corp. 162,880 4,218,592 0.1% * QLogic Corp. 161,607 1,908,579 0.0% * Qualstar Corp. 33,400 41,082 0.0% #* QuinStreet, Inc. 36,950 149,648 0.0% * Qumu Corp. 42,582 637,027 0.0% #* Radisys Corp. 123,441 308,603 0.0% * RealNetworks, Inc. 199,743 1,378,227 0.0% Reis, Inc. 44,432 1,039,709 0.0% #* Relm Wireless Corp. 6,062 33,644 0.0% # RF Industries, Ltd. 30,109 136,996 0.0% #* RF Micro Devices, Inc. 102,140 1,328,841 0.0% Richardson Electronics, Ltd. 77,071 771,481 0.0% #* Rightside Group, Ltd. 2,646 25,058 0.0% #* Rofin-Sinar Technologies, Inc. 66,895 1,497,779 0.0% * Rogers Corp. 59,077 4,039,094 0.1% #* Rosetta Stone, Inc. 57,934 554,428 0.0% * Rovi Corp. 371,921 7,765,710 0.2% #* Rubicon Technology, Inc. 53,423 236,664 0.0% #* Rudolph Technologies, Inc. 170,691 1,498,667 0.0% * Sanmina Corp. 415,810 10,424,357 0.2% * ScanSource, Inc. 87,634 3,345,866 0.1% #* Seachange International, Inc. 181,554 1,227,305 0.0% * ShoreTel, Inc. 75,007 606,807 0.0% * Sigma Designs, Inc. 157,798 629,614 0.0% * Silicon Image, Inc. 256,117 1,372,787 0.0% * Silicon Laboratories, Inc. 51,740 2,358,827 0.1% #* Smith Micro Software, Inc. 87,329 85,582 0.0% * SMTC Corp. 30,286 53,303 0.0% #* Sonus Networks, Inc. 609,161 2,113,789 0.0% #* Spansion, Inc. Class A 141,425 2,910,527 0.1% * StarTek, Inc. 59,503 447,463 0.0% #* SunEdison, Inc. 205,750 4,014,183 0.1% #* SunPower Corp. 110,645 3,522,937 0.1% * Super Micro Computer, Inc. 160,074 5,115,965 0.1% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) * support.com, Inc. 157,280 $ 335,006 0.0% #* Sykes Enterprises, Inc. 190,811 4,110,069 0.1% # SYNNEX Corp. 196,018 13,560,525 0.3% #* Take-Two Interactive Software, Inc. 346,328 9,160,376 0.2% * Tech Data Corp. 261,278 15,603,522 0.3% * TeleCommunication Systems, Inc. Class A 254,011 731,552 0.0% #* Telenav, Inc. 81,554 588,820 0.0% * TeleTech Holdings, Inc. 20,887 539,093 0.0% # Tessco Technologies, Inc. 39,695 1,260,316 0.0% Tessera Technologies, Inc. 237,546 7,219,023 0.1% TheStreet, Inc. 111,709 255,814 0.0% * Trio Tech International 979 3,769 0.0% #* TriQuint Semiconductor, Inc. 976,471 21,121,068 0.4% #* TTM Technologies, Inc. 309,570 2,139,129 0.0% * Ultra Clean Holdings, Inc. 85,782 753,166 0.0% United Online, Inc. 89,716 1,006,614 0.0% * Universal Security Instruments, Inc. 1,353 8,389 0.0% * UTStarcom Holdings Corp. 17,484 44,060 0.0% #* Veeco Instruments, Inc. 107,410 3,865,686 0.1% #* VeriFone Systems, Inc. 47,239 1,760,125 0.0% * Viasystems Group, Inc. 113,088 1,794,707 0.0% # Vicon Industries, Inc. 22,202 35,301 0.0% * Video Display Corp. 10,067 29,698 0.0% #* Virtusa Corp. 106,846 4,378,549 0.1% # Vishay Intertechnology, Inc. 754,072 10,187,513 0.2% #* Vishay Precision Group, Inc. 54,769 930,525 0.0% Wayside Technology Group, Inc. 10,208 176,598 0.0% * Westell Technologies, Inc. Class A 113,872 152,588 0.0% * Wireless Telecom Group, Inc. 3,241 8,070 0.0% * Xcerra Corp. 173,281 1,471,156 0.0% * XO Group, Inc. 136,025 1,731,598 0.0% #* Zynga, Inc. Class A 1,573,472 4,012,354 0.1% -------------------- ------------------ Total Information Technology 790,836,901 14.2% -------------------- ------------------ Materials -- (6.7%) A Schulman, Inc. 147,127 5,209,767 0.1% * AEP Industries, Inc. 1,645 75,654 0.0% # Allegheny Technologies, Inc. 150,799 4,953,747 0.1% #* Allied Nevada Gold Corp. 27,900 38,781 0.0% #* AM Castle & Co. 109,790 806,957 0.0% # American Vanguard Corp. 14,709 169,742 0.0% # Ampco-Pittsburgh Corp. 33,537 730,771 0.0% Aptargroup, Inc. 52,706 3,280,421 0.1% Axiall Corp. 212,267 8,554,360 0.1% Bemis Co., Inc. 230,009 8,848,446 0.2% * Boise Cascade Co. 133,828 4,825,838 0.1% Cabot Corp. 89,074 4,135,706 0.1% * Calgon Carbon Corp. 187,712 3,947,583 0.1% Carpenter Technology Corp. 12,506 625,925 0.0% * Century Aluminum Co. 454,590 13,310,395 0.2% # Chase Corp. 25,808 925,733 0.0% #* Chemtura Corp. 377,189 8,784,732 0.2% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Materials -- (Continued) * Clearwater Paper Corp. 77,655 $ 4,997,099 0.1% # Cliffs Natural Resources, Inc. 815,442 9,157,414 0.2% #* Codexis, Inc. 3,757 9,618 0.0% #* Coeur Mining, Inc. 448,217 1,658,403 0.0% Commercial Metals Co. 668,655 11,561,045 0.2% #* Continental Materials Corp. 125 2,024 0.0% * Core Molding Technologies, Inc. 31,258 415,731 0.0% Cytec Industries, Inc. 61,019 2,845,316 0.1% Domtar Corp. 367,244 15,082,711 0.3% Friedman Industries, Inc. 32,585 248,949 0.0% FutureFuel Corp. 139,657 1,860,231 0.0% #* General Moly, Inc. 7,700 5,082 0.0% Globe Specialty Metals, Inc. 10,749 202,189 0.0% * Graphic Packaging Holding Co. 404,545 4,907,131 0.1% Greif, Inc. Class A 47,111 2,075,711 0.0% Greif, Inc. Class B 1,245 62,524 0.0% # Hawkins, Inc. 5,853 225,399 0.0% # Haynes International, Inc. 37,880 1,761,041 0.0% # HB Fuller Co. 204,067 8,564,692 0.2% # Hecla Mining Co. 605,813 1,320,672 0.0% #* Horsehead Holding Corp. 224,841 3,532,252 0.1% Huntsman Corp. 735,795 17,953,398 0.3% Innophos Holdings, Inc. 80,625 4,595,625 0.1% Innospec, Inc. 78,372 3,163,878 0.1% #* Intrepid Potash, Inc. 61,541 827,727 0.0% # Kaiser Aluminum Corp. 97,047 6,749,619 0.1% * KapStone Paper and Packaging Corp. 500,280 15,388,613 0.3% # KMG Chemicals, Inc. 31,532 558,116 0.0% * Kraton Performance Polymers, Inc. 92,635 1,657,240 0.0% # Kronos Worldwide, Inc. 36,195 486,461 0.0% #* Landec Corp. 140,041 1,763,116 0.0% #* Louisiana-Pacific Corp. 506,900 7,400,740 0.1% * LSB Industries, Inc. 78,662 2,952,185 0.1% # Materion Corp. 100,067 3,947,643 0.1% #* McEwen Mining, Inc. 397,880 493,371 0.0% MeadWestvaco Corp. 537,108 23,724,060 0.4% * Mercer International, Inc. 224,380 2,822,700 0.1% # Minerals Technologies, Inc. 142,964 10,966,768 0.2% Myers Industries, Inc. 190,557 2,846,922 0.1% Neenah Paper, Inc. 77,971 4,757,011 0.1% # Noranda Aluminum Holding Corp. 97,155 428,454 0.0% * Northern Technologies International Corp. 6,949 130,085 0.0% # Olin Corp. 326,424 7,912,518 0.1% # Olympic Steel, Inc. 56,163 1,130,000 0.0% # OM Group, Inc. 160,504 4,177,919 0.1% #* OMNOVA Solutions, Inc. 56,305 395,824 0.0% * Owens-Illinois, Inc. 149,880 3,862,408 0.1% * Penford Corp. 52,958 998,258 0.0% PH Glatfelter Co. 240,760 6,074,375 0.1% # PolyOne Corp. 1,322 48,927 0.0% # Quaker Chemical Corp. 1,021 83,804 0.0% Reliance Steel & Aluminum Co. 417,707 28,186,868 0.5% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Materials -- (Continued) * Resolute Forest Products, Inc. 146,338 $ 2,716,033 0.0% Rock-Tenn Co. Class A 434,562 22,227,846 0.4% # Royal Gold, Inc. 50,358 2,877,960 0.1% #* RTI International Metals, Inc. 173,122 4,077,023 0.1% # Schnitzer Steel Industries, Inc. Class A 147,214 3,466,890 0.1% # Schweitzer-Mauduit International, Inc. 58,340 2,512,120 0.0% Sensient Technologies Corp. 198,965 11,774,749 0.2% Sonoco Products Co. 184,917 7,557,558 0.1% Steel Dynamics, Inc. 945,483 21,755,564 0.4% Stepan Co. 10,961 485,353 0.0% #* Stillwater Mining Co. 553,901 7,272,720 0.1% * SunCoke Energy, Inc. 281,937 6,738,294 0.1% # Synalloy Corp. 18,909 305,380 0.0% * Taminco Corp. 35,700 924,273 0.0% TimkenSteel Corp. 66,695 2,706,483 0.0% * Trecora Resources 38,501 506,288 0.0% Tredegar Corp. 21,600 410,832 0.0% # Tronox, Ltd. Class A 141,142 3,412,814 0.1% # United States Lime & Minerals, Inc. 13,640 956,300 0.0% # United States Steel Corp. 669,436 26,804,218 0.5% #* Universal Stainless & Alloy Products, Inc. 35,038 900,827 0.0% # Walter Energy, Inc. 22,100 53,261 0.0% # Wausau Paper Corp. 154,528 1,528,282 0.0% Westlake Chemical Corp. 45,760 3,228,368 0.1% Zep, Inc. 22,322 358,491 0.0% -------------------- ------------------ Total Materials 441,762,352 7.9% -------------------- ------------------ Other -- (0.0%) (Degree)* FRD Acquisition Co. Escrow Shares 55,628 -- 0.0% (Degree)#* Gerber Scientific, Inc. Escrow Shares 137,957 -- 0.0% -------------------- ------------------ Total Other -- 0.0% -------------------- ------------------ Real Estate Investment Trusts -- (0.0%) #* CareTrust REIT, Inc. 2,402 37,303 0.0% Geo Group, Inc. (The) 51,997 2,076,760 0.0% -------------------- ------------------ Total Real Estate Investment Trusts 2,114,063 0.0% -------------------- ------------------ Telecommunication Services -- (1.2%) #* Alteva 10,169 72,200 0.0% Atlantic Tele-Network, Inc. 28,932 1,943,941 0.0% #* Boingo Wireless, Inc. 51,329 359,816 0.0% # Consolidated Communications Holdings, Inc. 75,573 1,957,341 0.0% # Frontier Communications Corp. 3,065,958 20,051,365 0.4% * General Communication, Inc. Class A 259,590 3,044,991 0.1% #* Hawaiian Telcom Holdco, Inc. 7,480 201,212 0.0% IDT Corp. Class B 60,375 994,980 0.0% Inteliquent, Inc. 169,874 2,858,979 0.1% #* Iridium Communications, Inc. 320,634 3,046,023 0.1% # Lumos Networks Corp. 29,209 502,395 0.0% #* ORBCOMM, Inc. 200,837 1,269,290 0.0% #* Premiere Global Services, Inc. 222,706 2,331,732 0.0% U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Telecommunication Services -- (Continued) # Shenandoah Telecommunications Co. 57,788 $ 1,709,947 0.0% Spok Holdings, Inc. 96,088 1,560,469 0.0% * Straight Path Communications, Inc. Class B 28,787 621,799 0.0% Telephone & Data Systems, Inc. 429,082 11,001,663 0.2% #* United States Cellular Corp. 102,697 3,740,225 0.1% * Vonage Holdings Corp. 834,180 2,902,946 0.1% Windstream Holdings, Inc. 1,773,692 18,588,292 0.3% -------------------- ------------------ Total Telecommunication Services 78,759,606 1.4% -------------------- ------------------ Utilities -- (0.6%) # Consolidated Water Co., Ltd. 32,635 391,294 0.0% #* Dynegy, Inc. 217,330 6,628,565 0.1% #* Genie Energy, Ltd. Class B 77,586 562,498 0.0% # Ormat Technologies, Inc. 118,583 3,432,978 0.1% SJW Corp. 19,798 632,744 0.0% UGI Corp. 674,196 25,410,447 0.5% -------------------- ------------------ Total Utilities 37,058,526 0.7% -------------------- ------------------ TOTAL COMMON STOCKS 5,574,133,690 99.7% -------------------- ------------------ RIGHTS/WARRANTS -- (0.0%) (Degree)* Capital Bank Corp. Contingent Value Rights 200 -- 0.0% (Degree)#* Eagle Bulk Shipping, Inc. Warrants 10/15/21 672 1,714 0.0% (Degree)* Leap Wireless International, Inc. Contingent Value Rights 270,907 682,686 0.0% (Degree)#* Magnum Hunter Resources Corp. Warrants 04/15/16 50,591 -- 0.0% (Degree)#* PhotoMedex, Inc. Contingent Value Warrants 12/13/14 1,528 -- 0.0% -------------------- ------------------ TOTAL RIGHTS/WARRANTS 684,400 0.0% -------------------- ------------------ TEMPORARY CASH INVESTMENTS -- (0.2%) State Street Institutional Liquid Reserves, 0.077% 14,280,341 14,280,341 0.3% -------------------- ------------------ SECURITIES LENDING COLLATERAL -- (15.5%) (S)@ DFA Short Term Investment Fund 88,553,047 1,024,558,755 18.3% -------------------- ------------------ TOTAL INVESTMENTS -- (100.0%) (Cost $5,163,316,060) $ 6,613,657,186 118.3% ==================== ================== U.S. TARGETED VALUE PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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 $ 796,086,208 -- -- $ 796,086,208 Consumer Staples 156,066,914 -- -- 156,066,914 Energy 486,178,340 -- -- 486,178,340 Financials 1,413,977,485 $ 31,610 -- 1,414,009,095 Health Care 369,362,357 100,807 -- 369,463,164 Industrials 1,001,796,859 1,662 -- 1,001,798,521 Information Technology 790,836,901 -- -- 790,836,901 Materials 441,762,352 -- -- 441,762,352 Other -- -- -- -- Real Estate Investment Trusts 2,114,063 -- -- 2,114,063 Telecommunication Services 78,759,606 -- -- 78,759,606 Utilities 37,058,526 -- -- 37,058,526 Rights/Warrants -- 684,400 -- 684,400 Temporary Cash Investments 14,280,341 -- -- 14,280,341 Securities Lending Collateral -- 1,024,558,755 -- 1,024,558,755 --------------------- -------------------- -------------------- ---------------------- TOTAL $ 5,588,279,952 $ 1,025,377,234 -- $ 6,613,657,186 ===================== ==================== ==================== ====================== U.S. SMALL CAP VALUE PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2014 PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- COMMON STOCKS -- (84.7%) Consumer Discretionary -- (12.6%) * 1-800-Flowers.com, Inc. Class A 217,342 $ 1,745,256 0.0% Aaron's, Inc. 1,022,106 25,307,345 0.2% # Abercrombie & Fitch Co. Class A 1,451,473 48,595,316 0.4% # AH Belo Corp. Class A 247,907 2,853,410 0.0% * Ambassadors Group, Inc. 21,598 76,673 0.0% AMCON Distributing Co. 3,567 292,423 0.0% # American Eagle Outfitters, Inc. 871,467 11,215,780 0.1% * Ascena Retail Group, Inc. 1,092,625 13,603,181 0.1% #* Ascent Capital Group, Inc. Class A 110,583 7,110,487 0.1% * Ballantyne Strong, Inc. 315,943 1,418,584 0.0% #* Barnes & Noble, Inc. 1,840,508 40,159,885 0.4% Bassett Furniture Industries, Inc. 200,365 3,482,344 0.0% Beasley Broadcasting Group, Inc. Class A 75,568 355,170 0.0% # bebe stores, Inc. 270,305 618,998 0.0% * Belmond, Ltd. Class A 2,793,862 32,017,659 0.3% # Big 5 Sporting Goods Corp. 63,221 778,251 0.0% * Biglari Holdings, Inc. 31,733 11,079,894 0.1% #* BJ's Restaurants, Inc. 33,564 1,477,487 0.0% #* Black Diamond, Inc. 293,771 2,279,663 0.0% # Bob Evans Farms, Inc. 1,132 55,298 0.0% #* Books-A-Million, Inc. 322,657 467,853 0.0% #* Boyd Gaming Corp. 422,688 4,882,046 0.1% #* Bridgepoint Education, Inc. 92,928 1,174,610 0.0% Brown Shoe Co., Inc. 497,288 13,222,888 0.1% #* Build-A-Bear Workshop, Inc. 509,189 8,630,754 0.1% #* Cache, Inc. 356,774 201,577 0.0% # Callaway Golf Co. 2,247,412 17,619,710 0.2% #* Cambium Learning Group, Inc. 218,576 334,421 0.0% * Canterbury Park Holding Corp. 16,406 156,677 0.0% #* Career Education Corp. 164,047 951,473 0.0% # Carriage Services, Inc. 374,476 7,474,541 0.1% #* Carrols Restaurant Group, Inc. 7,357 56,722 0.0% #* Cavco Industries, Inc. 20,850 1,519,339 0.0% #* Charles & Colvard, Ltd. 19,136 55,686 0.0% # Children's Place, Inc. (The) 417,698 20,571,626 0.2% * Christopher & Banks Corp. 315,645 2,061,162 0.0% Churchill Downs, Inc. 2,204 224,764 0.0% #* Cinedigm Corp. 205,377 318,334 0.0% * Citi Trends, Inc. 101,592 2,301,059 0.0% * Coast Distribution System, Inc. (The) 92,516 286,337 0.0% Collectors Universe, Inc. 21,749 535,025 0.0% #* Conn's, Inc. 306,087 9,522,367 0.1% Cooper Tire & Rubber Co. 213,791 6,886,208 0.1% * Cooper-Standard Holding, Inc. 2,698 147,257 0.0% Core-Mark Holding Co., Inc. 579,934 33,653,570 0.3% * Crocs, Inc. 266,873 3,117,077 0.0% #* Crown Media Holdings, Inc. Class A 195,809 683,373 0.0% # CSS Industries, Inc. 259,352 7,407,093 0.1% Culp, Inc. 26,354 499,935 0.0% #* Cumulus Media, Inc. Class A 1,755,780 6,777,311 0.1% #* Delta Apparel, Inc. 188,208 1,976,184 0.0% U.S. SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) # Destination Maternity Corp. 115,542 $ 1,730,819 0.0% #* Destination XL Group, Inc. 34,779 182,242 0.0% DeVry Education Group, Inc. 1,167,715 56,529,083 0.5% # Dillard's, Inc. Class A 73,088 7,729,787 0.1% #* Dixie Group, Inc. (The) 293,970 2,316,484 0.0% #* Dorman Products, Inc. 257,055 11,917,070 0.1% * Dover Downs Gaming & Entertainment, Inc. 72,405 54,304 0.0% Dover Motorsports, Inc. 319,398 761,764 0.0% #* DreamWorks Animation SKG, Inc. Class A 275,395 6,135,801 0.1% #* Education Management Corp. 13,591 8,088 0.0% Educational Development Corp. 1,000 4,370 0.0% * Eldorado Resorts, Inc. 217,274 895,169 0.0% Emerson Radio Corp. 156,037 177,882 0.0% * Emmis Communications Corp. Class A 353,768 771,214 0.0% #* Entercom Communications Corp. Class A 85,178 875,630 0.0% # Escalade, Inc. 8,076 92,389 0.0% # Ethan Allen Interiors, Inc. 7,521 212,844 0.0% #* EW Scripps Co. (The) Class A 1,289,837 24,764,870 0.2% #* Federal-Mogul Holdings Corp. 452,356 7,061,277 0.1% * Flanigan's Enterprises, Inc. 4,740 94,800 0.0% # Flexsteel Industries, Inc. 199,283 6,837,400 0.1% # Fred's, Inc. Class A 1,082,056 16,988,279 0.2% Frisch's Restaurants, Inc. 49,454 1,269,979 0.0% #* FTD Cos., Inc. 388,628 13,671,933 0.1% #* Fuel Systems Solutions, Inc. 173,445 1,600,897 0.0% #* Full House Resorts, Inc. 38,210 49,291 0.0% #* Gaiam, Inc. Class A 92,238 698,242 0.0% #* Gaming Partners International Corp. 44,581 374,035 0.0% #* Geeknet, Inc. 61,724 598,106 0.0% #* Genesco, Inc. 5,622 431,151 0.0% #* Gray Television, Inc. 1,404,910 12,981,368 0.1% * Gray Television, Inc. Class A 23,767 175,876 0.0% # Group 1 Automotive, Inc. 725,621 61,989,802 0.5% Guess?, Inc. 184,867 4,098,501 0.0% Harte-Hanks, Inc. 411,798 2,680,805 0.0% # Haverty Furniture Cos., Inc. 533,744 11,747,705 0.1% Haverty Furniture Cos., Inc. Class A 5,701 125,308 0.0% * Helen of Troy, Ltd. 842,455 52,105,842 0.5% #* hhgregg, Inc. 51,621 267,397 0.0% * Hollywood Media Corp. 183,779 203,995 0.0% Hooker Furniture Corp. 257,904 3,943,352 0.0% #* Iconix Brand Group, Inc. 1,920,147 76,825,081 0.7% # International Speedway Corp. Class A 779,108 24,409,454 0.2% #* Isle of Capri Casinos, Inc. 509,303 3,784,121 0.0% * Jaclyn, Inc. 40,909 197,386 0.0% #* JAKKS Pacific, Inc. 692,157 4,415,962 0.0% # Johnson Outdoors, Inc. Class A 207,794 6,244,210 0.1% #* Journal Communications, Inc. Class A 736,358 7,223,672 0.1% * K12, Inc. 217,324 2,694,818 0.0% #* Kona Grill, Inc. 70,817 1,595,507 0.0% La-Z-Boy, Inc. 233,122 5,329,169 0.1% #* Lakeland Industries, Inc. 141,538 1,995,686 0.0% U.S. SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) * LeapFrog Enterprises, Inc. 306,356 $ 1,629,814 0.0% #* Lee Enterprises, Inc. 107,038 399,252 0.0% #* Libbey, Inc. 337,773 9,710,974 0.1% * Liberty Media Corp. Class B 1,761 82,468 0.0% * Liberty Ventures Series A 173,911 6,104,276 0.1% #* Life Time Fitness, Inc. 681,283 37,995,153 0.3% # Lifetime Brands, Inc. 353,986 6,056,700 0.1% * LIN Media LLC Class A 27,088 648,216 0.0% # Lincoln Educational Services Corp. 37,107 98,334 0.0% # Lithia Motors, Inc. Class A 192,716 14,958,616 0.1% * Live Nation Entertainment, Inc. 2,423,838 63,019,788 0.6% * Loral Space & Communications, Inc. 85,905 6,571,732 0.1% * Luby's, Inc. 481,887 2,404,616 0.0% #* M/I Homes, Inc. 423,613 9,124,624 0.1% Marcus Corp. (The) 562,220 9,630,829 0.1% #* MarineMax, Inc. 635,399 12,180,599 0.1% Marriott Vacations Worldwide Corp. 755,034 52,429,561 0.5% * McClatchy Co. (The) Class A 1,266,983 4,510,459 0.1% McRae Industries, Inc. Class A 24,573 747,019 0.0% # MDC Holdings, Inc. 1,127,486 27,533,208 0.3% #* Media General, Inc. Class A 238,930 3,569,614 0.0% # Men's Wearhouse, Inc. (The) 39,170 1,842,165 0.0% # Meredith Corp. 249,348 13,001,005 0.1% #* Meritage Homes Corp. 294,015 10,816,812 0.1% * Modine Manufacturing Co. 149,278 1,915,237 0.0% * Monarch Casino & Resort, Inc. 11,318 184,144 0.0% #* Motorcar Parts of America, Inc. 82,164 2,386,043 0.0% # Movado Group, Inc. 439,578 15,517,103 0.1% # NACCO Industries, Inc. Class A 152,946 8,958,047 0.1% # National CineMedia, Inc. 24,440 388,596 0.0% #* Nautilus, Inc. 23,985 320,919 0.0% #* Nevada Gold & Casinos, Inc. 130,600 155,414 0.0% * New York & Co., Inc. 165,919 542,555 0.0% # Nexstar Broadcasting Group, Inc. Class A 13,927 628,386 0.0% * Nobility Homes, Inc. 3,827 42,001 0.0% #* Office Depot, Inc. 2,246,234 11,725,341 0.1% * P&F Industries, Inc. Class A 24,537 196,051 0.0% #* Pacific Sunwear of California, Inc. 1,376,074 2,091,632 0.0% #* Penn National Gaming, Inc. 726,117 9,504,872 0.1% Penske Automotive Group, Inc. 1,250,616 56,577,868 0.5% #* Pep Boys-Manny, Moe & Jack (The) 1,482,306 14,126,376 0.1% #* Perfumania Holdings, Inc. 89,183 548,475 0.0% #* Perry Ellis International, Inc. 465,385 9,517,123 0.1% #* Pinnacle Entertainment, Inc. 1,763 45,186 0.0% * Premier Exhibitions, Inc. 9,025 7,130 0.0% * QEP Co., Inc. 42,217 740,697 0.0% #* Quiksilver, Inc. 1,911,680 3,345,440 0.0% #* Radio One, Inc. Class D 623,107 1,551,536 0.0% #* RCI Hospitality Holdings, Inc. 266,193 3,167,697 0.0% #* Reading International, Inc. Class A 168,095 1,675,907 0.0% * Red Lion Hotels Corp. 529,902 3,004,544 0.0% # Regis Corp. 1,860,230 31,586,705 0.3% U.S. SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) # Remy International, Inc. 11,071 $ 204,592 0.0% # Rent-A-Center, Inc. 1,897,433 58,763,500 0.5% Rocky Brands, Inc. 130,168 1,710,408 0.0% #* Ruby Tuesday, Inc. 1,795,629 13,790,431 0.1% # Ryland Group, Inc. (The) 426,676 15,279,268 0.1% # Saga Communications, Inc. Class A 155,524 6,236,512 0.1% # Salem Communications Corp. Class A 116,549 898,593 0.0% # Scholastic Corp. 1,407,493 48,994,831 0.4% #* Shiloh Industries, Inc. 192,329 3,277,286 0.0% # Shoe Carnival, Inc. 568,736 10,464,742 0.1% #* Sizmek, Inc. 310,765 1,780,683 0.0% #* Skechers U.S.A., Inc. Class A 1,138,657 62,341,471 0.6% #* Skullcandy, Inc. 330,712 2,758,138 0.0% #* Skyline Corp. 1,465 5,362 0.0% # Sonic Automotive, Inc. Class A 120,280 2,993,769 0.0% * Spanish Broadcasting System, Inc. Class A 8,699 35,057 0.0% Spartan Motors, Inc. 681,030 3,875,061 0.0% # Speedway Motorsports, Inc. 915,964 17,925,415 0.2% # Stage Stores, Inc. 1,082,655 18,264,390 0.2% # Standard Motor Products, Inc. 262,006 10,354,477 0.1% #* Standard Pacific Corp. 932,682 6,901,847 0.1% * Stanley Furniture Co., Inc. 93,359 270,741 0.0% * Starz Class B 2,327 71,800 0.0% # Stein Mart, Inc. 18,239 244,038 0.0% * Steiner Leisure, Ltd. 11,629 490,511 0.0% #* Stoneridge, Inc. 154,482 2,006,721 0.0% # Strattec Security Corp. 48,598 5,040,585 0.1% # Superior Industries International, Inc. 773,222 15,085,561 0.1% # Superior Uniform Group, Inc. 144,642 3,471,408 0.0% Sypris Solutions, Inc. 278,004 947,994 0.0% #* Systemax, Inc. 32,865 502,835 0.0% * Time, Inc. 143,198 3,234,843 0.0% # Trans World Entertainment Corp. 634,084 2,092,477 0.0% #* Tuesday Morning Corp. 1,277,206 26,042,230 0.2% #* Unifi, Inc. 441,743 12,355,552 0.1% #* Universal Electronics, Inc. 33,659 1,914,861 0.0% * Valuevision Media, Inc. Class A 3,840 21,734 0.0% #* VOXX International Corp. 483,244 4,122,071 0.0% # Wendy's Co. (The) 5,363,460 43,014,949 0.4% #* West Marine, Inc. 607,502 5,977,820 0.1% # Weyco Group, Inc. 1,700 52,955 0.0% #* William Lyon Homes Class A 22,589 534,456 0.0% #* Zagg, Inc. 249,692 1,677,930 0.0% -------------------- ------------------ Total Consumer Discretionary 1,699,657,064 14.8% -------------------- ------------------ Consumer Staples -- (2.6%) #* Alliance One International, Inc. 1,647,565 3,344,557 0.0% Andersons, Inc. (The) 181,701 11,579,805 0.1% #* Boulder Brands, Inc. 769,618 6,834,208 0.1% #* Bridgford Foods Corp. 37,720 316,659 0.0% #* CCA Industries, Inc. 32,097 109,130 0.0% #* Central Garden and Pet Co. 312,005 2,489,800 0.0% U.S. SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Staples -- (Continued) #* Central Garden and Pet Co. Class A 943,370 $ 8,103,548 0.1% #* Chiquita Brands International, Inc. 1,392,929 20,099,965 0.2% #* Craft Brew Alliance, Inc. 251,817 3,495,220 0.0% * Cuisine Solutions, Inc. 151,918 394,987 0.0% #* Darling International, Inc. 110,311 1,941,474 0.0% # Dean Foods Co. 1,180,440 17,364,272 0.2% #* Farmer Bros. Co. 8,220 239,695 0.0% # Fresh Del Monte Produce, Inc. 1,715,825 55,095,141 0.5% # Ingles Markets, Inc. Class A 247,423 6,655,679 0.1% # John B. Sanfilippo & Son, Inc. 214,706 7,976,328 0.1% * Mannatech, Inc. 3,084 44,934 0.0% MGP Ingredients, Inc. 292,877 3,617,031 0.0% * Natural Alternatives International, Inc. 94,109 576,888 0.0% #* Nutraceutical International Corp. 62,390 1,402,527 0.0% # Oil-Dri Corp. of America 73,605 2,221,399 0.0% #* Omega Protein Corp. 582,017 8,410,146 0.1% # Orchids Paper Products Co. 2,641 75,955 0.0% #* Pantry, Inc. (The) 590,906 15,227,648 0.1% #* Post Holdings, Inc. 923,435 34,628,812 0.3% Reliv International, Inc. 12,603 15,250 0.0% #* Revlon, Inc. Class A 33,302 1,142,259 0.0% # Roundy's, Inc. 18,988 63,989 0.0% * Seaboard Corp. 18,588 57,118,507 0.5% #* Seneca Foods Corp. Class A 96,640 2,597,683 0.0% * Seneca Foods Corp. Class B 24,265 733,410 0.0% # Snyder's-Lance, Inc. 90,722 2,702,608 0.0% SpartanNash Co. 969,304 21,722,103 0.2% Spectrum Brands Holdings, Inc. 152,916 13,852,660 0.1% #* TreeHouse Foods, Inc. 107,177 9,128,265 0.1% # Universal Corp. 837,532 37,270,174 0.3% # Weis Markets, Inc. 15,020 670,493 0.0% -------------------- ------------------ Total Consumer Staples 359,263,209 3.1% -------------------- ------------------ Energy -- (8.3%) Adams Resources & Energy, Inc. 108,293 4,553,721 0.0% # Alon USA Energy, Inc. 1,546,971 24,813,415 0.2% #* Alpha Natural Resources, Inc. 5,227,310 10,245,528 0.1% #* American Eagle Energy Corp. 4,100 7,134 0.0% #* Approach Resources, Inc. 23,097 228,660 0.0% * Atwood Oceanics, Inc. 171,346 6,965,215 0.1% * Barnwell Industries, Inc. 142,853 365,704 0.0% #* Basic Energy Services, Inc. 935,700 12,070,530 0.1% #* Bill Barrett Corp. 230,387 3,501,882 0.0% Bolt Technology Corp. 6,706 147,063 0.0% # Bristow Group, Inc. 1,356,710 100,260,869 0.9% #* C&J Energy Services, Inc. 302,193 5,835,347 0.1% #* Cal Dive International, Inc. 467,514 46,751 0.0% #* Callon Petroleum Co. 1,001,781 6,571,683 0.1% #* Clayton Williams Energy, Inc. 3,954 328,736 0.0% #* Cloud Peak Energy, Inc. 1,434,523 17,171,240 0.2% # Comstock Resources, Inc. 1,579,419 18,700,321 0.2% #* Contango Oil & Gas Co. 392,624 14,358,260 0.1% U.S. SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Energy -- (Continued) # Dawson Geophysical Co. 200,401 $ 3,404,813 0.0% Delek US Holdings, Inc. 1,710,914 57,982,875 0.5% # DHT Holdings, Inc. 154,071 1,026,113 0.0% #* Emerald Oil, Inc. 27,559 87,638 0.0% # Energy XXI Bermuda, Ltd. 1,320,781 10,156,806 0.1% * Era Group, Inc. 511,786 11,970,675 0.1% * Escalera Resources Co. 81,571 92,175 0.0% Evolution Petroleum Corp. 17,477 165,332 0.0% # Exterran Holdings, Inc. 2,454,125 96,520,736 0.8% #* Forbes Energy Services, Ltd. 1,755 5,054 0.0% * Forum Energy Technologies, Inc. 51,342 1,401,637 0.0% #* Gastar Exploration, Inc. 99,227 396,908 0.0% # Green Plains, Inc. 1,156,520 39,552,984 0.3% # Gulf Island Fabrication, Inc. 270,355 5,715,305 0.1% # Gulfmark Offshore, Inc. Class A 870,027 26,240,014 0.2% #* Halcon Resources Corp. 221,233 688,035 0.0% #* Harvest Natural Resources, Inc. 1,085,710 4,038,841 0.0% * Helix Energy Solutions Group, Inc. 3,813,585 101,593,904 0.9% #* Hercules Offshore, Inc. 5,192,933 8,568,339 0.1% #* Hornbeck Offshore Services, Inc. 1,367,870 41,938,894 0.4% #* ION Geophysical Corp. 281,734 788,855 0.0% #* Key Energy Services, Inc. 4,014,424 12,203,849 0.1% #* Magnum Hunter Resources Corp. 86,057 399,305 0.0% #* McDermott International, Inc. 4,131,158 15,863,647 0.1% * Mexco Energy Corp. 733 4,361 0.0% #* Midstates Petroleum Co., Inc. 15,989 47,487 0.0% * Mitcham Industries, Inc. 209,517 2,137,073 0.0% * Natural Gas Services Group, Inc. 307,337 7,907,781 0.1% #* Newpark Resources, Inc. 1,876,681 21,450,464 0.2% #* Northern Oil and Gas, Inc. 1,441,460 16,288,498 0.1% #* Overseas Shipholding Group, Inc. 776,519 3,999,073 0.0% #* Pacific Drilling SA 375,919 2,736,690 0.0% #* Parker Drilling Co. 3,565,791 15,832,112 0.1% # PBF Energy, Inc. Class A 325,615 8,488,783 0.1% * PDC Energy, Inc. 601,311 26,289,317 0.2% #* Penn Virginia Corp. 2,226,895 19,084,490 0.2% #* PHI, Inc. Non-Voting 313,704 14,035,117 0.1% * PHI, Inc. Voting 1,686 71,672 0.0% * Pioneer Energy Services Corp. 1,907,098 17,507,160 0.2% #* Renewable Energy Group, Inc. 770,636 8,114,797 0.1% #* REX American Resources Corp. 234,850 17,087,686 0.2% #* Rex Energy Corp. 226,737 1,777,618 0.0% #* Rosetta Resources, Inc. 314,546 11,962,184 0.1% Rowan Cos. P.L.C. Class A 53,119 1,289,198 0.0% #* SandRidge Energy, Inc. 455,669 1,777,109 0.0% # Scorpio Tankers, Inc. 437,457 3,819,000 0.0% #* SEACOR Holdings, Inc. 620,075 51,125,184 0.4% # Ship Finance International, Ltd. 244,678 4,206,015 0.0% #* Steel Excel, Inc. 421,014 12,840,927 0.1% #* Stone Energy Corp. 1,185,752 29,050,924 0.3% Superior Energy Services, Inc. 915,588 23,027,038 0.2% #* Swift Energy Co. 867,842 5,944,718 0.1% U.S. SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Energy -- (Continued) #* Synthesis Energy Systems, Inc. 1,263 $ 1,301 0.0% # Teekay Tankers, Ltd. Class A 15,505 65,741 0.0% # Tesco Corp. 695,075 13,234,228 0.1% #* TETRA Technologies, Inc. 1,531,462 14,594,833 0.1% * TGC Industries, Inc. 92,704 291,091 0.0% # Tidewater, Inc. 465,811 17,174,452 0.2% #* Triangle Petroleum Corp. 1,601,451 12,411,245 0.1% * Unit Corp. 379,169 18,359,363 0.2% #* US Energy Corp. Wyoming 10,022 26,157 0.0% #* Vaalco Energy, Inc. 589,480 4,373,942 0.0% # W&T Offshore, Inc. 931,769 8,469,780 0.1% #* Warren Resources, Inc. 927,466 3,209,032 0.0% Western Refining, Inc. 639,915 29,173,725 0.3% #* Westmoreland Coal Co. 68,170 2,492,977 0.0% * Willbros Group, Inc. 171,061 1,004,128 0.0% # World Fuel Services Corp. 25,037 1,032,526 0.0% -------------------- ------------------ Total Energy 1,120,791,790 9.7% -------------------- ------------------ Financials -- (22.2%) * 1st Constitution Bancorp 17,947 199,301 0.0% # 1st Source Corp. 594,494 18,601,717 0.2% # 1st United Bancorp, Inc. 88,107 779,747 0.0% #* A-Mark Precious Metals, Inc. 78,247 823,941 0.0% # Access National Corp. 39,281 661,885 0.0% # Alexander & Baldwin, Inc. 616,521 24,679,336 0.2% Alliance Bancorp, Inc. of Pennsylvania 2,078 34,266 0.0% #* Altisource Asset Management Corp. 18,447 9,961,380 0.1% #* Ambac Financial Group, Inc. 83,886 1,919,312 0.0% Ameriana Bancorp 34,757 588,784 0.0% # American Equity Investment Life Holding Co. 2,251,258 58,104,969 0.5% * American Independence Corp. 8,517 93,602 0.0% # American National Bankshares, Inc. 600 14,520 0.0% American National Insurance Co. 5,817 663,603 0.0% * American River Bankshares 142,147 1,350,397 0.0% Ameris Bancorp 200,892 4,982,122 0.1% # AmeriServ Financial, Inc. 323,958 1,020,468 0.0% # Argo Group International Holdings, Ltd. 1,019,162 56,869,240 0.5% Aspen Insurance Holdings, Ltd. 1,361,886 59,419,086 0.5% # Associated Banc-Corp 1,712,773 32,200,132 0.3% * Asta Funding, Inc. 222,408 1,874,899 0.0% Astoria Financial Corp. 2,384,176 31,351,914 0.3% Atlantic American Corp. 238,675 921,286 0.0% #* Atlantic Coast Financial Corp. 17,186 70,806 0.0% #* Atlanticus Holdings Corp. 262,883 368,036 0.0% #* AV Homes, Inc. 231,572 3,471,264 0.0% # Baldwin & Lyons, Inc. Class A 3,124 76,600 0.0% # Baldwin & Lyons, Inc. Class B 368,143 9,910,410 0.1% Banc of California, Inc. 122,736 1,444,603 0.0% Bancorp of New Jersey, Inc. 400 4,818 0.0% #* Bancorp, Inc. 207,040 1,958,598 0.0% # BancorpSouth, Inc. 355,964 8,197,851 0.1% Bank Mutual Corp. 245,390 1,617,120 0.0% U.S. SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) Bank of Commerce Holdings 15,477 $ 93,636 0.0% # BankFinancial Corp. 524,139 6,252,978 0.1% Banner Corp. 95,375 4,122,108 0.0% Bar Harbor Bankshares 795 23,135 0.0% BBCN Bancorp, Inc. 1,373 19,414 0.0% #* BBX Capital Corp. Class A 266,322 4,900,325 0.1% BCB Bancorp, Inc. 25,972 334,779 0.0% #* Bear State Financial, Inc. 103,884 931,839 0.0% * Beneficial Mutual Bancorp, Inc. 7,075 95,017 0.0% Berkshire Bancorp, Inc. 4,650 38,944 0.0% # Berkshire Hills Bancorp, Inc. 585,741 15,100,403 0.1% BNC Bancorp 5,899 100,342 0.0% * BNCCORP, Inc. 29,762 535,716 0.0% # Boston Private Financial Holdings, Inc. 337,789 4,441,925 0.0% #* Bridge Capital Holdings 30,670 739,760 0.0% # Brookline Bancorp, Inc. 1,227,274 11,769,558 0.1% C&F Financial Corp. 14,960 513,726 0.0% # Calamos Asset Management, Inc. Class A 167,512 2,294,914 0.0% California First National Bancorp 142,816 2,156,522 0.0% # Camden National Corp. 2,689 110,007 0.0% # Cape Bancorp, Inc. 36,671 326,739 0.0% #* Capital Bank Financial Corp. Class A 93,322 2,416,107 0.0% # Capital City Bank Group, Inc. 62,436 943,408 0.0% # Capital Southwest Corp. 127,510 4,674,517 0.0% # Capitol Federal Financial, Inc. 1,999,246 25,610,341 0.2% * Carolina Bank Holdings, Inc. 4,214 39,864 0.0% #* Cascade Bancorp 348,121 1,778,898 0.0% # Cash America International, Inc. 448,592 22,048,297 0.2% # Cathay General Bancorp 1,121,189 29,610,601 0.3% # Centerstate Banks, Inc. 43,628 507,830 0.0% # Central Pacific Financial Corp. 92,291 1,744,300 0.0% # Century Bancorp, Inc. Class A 19,731 749,383 0.0% Chemical Financial Corp. 674,385 20,083,185 0.2% # Chicopee Bancorp, Inc. 38,643 575,394 0.0% Citizens Community Bancorp, Inc. 42,530 378,517 0.0% * Citizens First Corp. 5,422 62,353 0.0% #* Citizens, Inc. 4,630 33,753 0.0% # Clifton Bancorp, Inc. 18,102 235,688 0.0% CNO Financial Group, Inc. 8,472,447 153,605,464 1.3% # CoBiz Financial, Inc. 41,975 504,540 0.0% Codorus Valley Bancorp, Inc. 17,523 378,857 0.0% * Colonial Financial Services, Inc. 4,224 54,870 0.0% * Colony Bankcorp, Inc. 12,037 84,259 0.0% # Columbia Banking System, Inc. 493,144 13,699,540 0.1% * Community Bankers Trust Corp. 300 1,320 0.0% Community West Bancshares 23,717 152,975 0.0% * CommunityOne Bancorp 998 10,619 0.0% #* Consumer Portfolio Services, Inc. 314,416 2,219,777 0.0% #* Cowen Group, Inc. Class A 1,408,515 5,690,401 0.1% #* Customers Bancorp, Inc. 15,215 290,607 0.0% # Dime Community Bancshares, Inc. 53,698 845,744 0.0% # Donegal Group, Inc. Class A 491,740 7,779,327 0.1% U.S. SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) # Donegal Group, Inc. Class B 54,693 $ 1,148,553 0.0% Eagle Bancorp Montana, Inc. 1,125 12,038 0.0% * Eastern Virginia Bankshares, Inc. 22,219 137,536 0.0% # EMC Insurance Group, Inc. 293,400 9,400,536 0.1% Employers Holdings, Inc. 25,231 514,460 0.0% Endurance Specialty Holdings, Ltd. 1,449,804 84,016,142 0.7% #* Enstar Group, Ltd. 5,325 788,473 0.0% # Enterprise Bancorp, Inc. 4,006 94,261 0.0% # Enterprise Financial Services Corp. 90,618 1,708,149 0.0% # ESB Financial Corp. 44,352 827,608 0.0% ESSA Bancorp, Inc. 176,522 2,028,238 0.0% Evans Bancorp, Inc. 5,783 134,426 0.0% #* Ezcorp, Inc. Class A 458,927 5,176,697 0.1% #* Farmers Capital Bank Corp. 57,164 1,282,760 0.0% # FBL Financial Group, Inc. Class A 791,367 39,235,976 0.3% # Federal Agricultural Mortgage Corp. Class A 3,592 88,004 0.0% # Federal Agricultural Mortgage Corp. Class C 249,245 8,299,859 0.1% Federated National Holding Co. 169,778 5,680,772 0.1% # Fidelity Southern Corp. 38,324 588,273 0.0% # Financial Institutions, Inc. 186,491 4,688,384 0.0% * First Acceptance Corp. 865,637 2,216,031 0.0% # First American Financial Corp. 2,056,410 62,350,351 0.5% First Bancorp of Indiana, Inc. 5,430 82,916 0.0% # First Bancorp, Inc. 658 11,640 0.0% * First BanCorp.(318672706) 854,913 4,454,097 0.0% # First Bancorp.(318910106) 89,814 1,627,430 0.0% #* First Bancshares, Inc. 22,105 154,072 0.0% First Bancshares, Inc. (The) 2,580 38,803 0.0% # First Business Financial Services, Inc. 23,772 1,115,620 0.0% First Citizens BancShares, Inc. Class A 23,645 5,939,860 0.1% # First Commonwealth Financial Corp. 2,313,718 21,633,263 0.2% # First Community Bancshares, Inc. 96,615 1,581,588 0.0% # First Connecticut Bancorp, Inc. 8,575 134,113 0.0% First Defiance Financial Corp. 207,337 6,350,732 0.1% First Federal of Northern Michigan Bancorp, Inc. 31,310 153,106 0.0% # First Financial Corp. 162,018 5,618,784 0.1% # First Financial Northwest, Inc. 230,042 2,668,487 0.0% * First Financial Service Corp. 16,049 59,381 0.0% First Interstate Bancsystem, Inc. 343,447 10,076,735 0.1% #* First Marblehead Corp. (The) 17,819 44,013 0.0% First Merchants Corp. 882,045 19,978,319 0.2% First Midwest Bancorp, Inc. 1,448,846 24,326,124 0.2% First Niagara Financial Group, Inc. 606,904 4,545,711 0.0% (Degree)* First Place Financial Corp. 203,821 20 0.0% First South Bancorp, Inc. 8,902 73,442 0.0% * First United Corp. 70,785 605,212 0.0% First West Virginia Bancorp 9,474 189,385 0.0% # FirstMerit Corp. 426,318 7,822,935 0.1% #* Flagstar Bancorp, Inc. 301,083 4,733,025 0.0% # Flushing Financial Corp. 399,420 8,044,319 0.1% # FNB Corp. 1,740,410 22,259,844 0.2% #* Forestar Group, Inc. 177,129 3,090,901 0.0% U.S. SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) * Fortegra Financial Corp. 4,128 $ 40,785 0.0% # Fox Chase Bancorp, Inc. 41,671 682,571 0.0% #* Franklin Financial Corp. 20,766 431,102 0.0% Fulton Financial Corp. 3,609,117 42,876,310 0.4% # Gain Capital Holdings, Inc. 2,474 21,177 0.0% * GAINSCO, Inc. 100 1,050 0.0% # GFI Group, Inc. 209,199 1,150,595 0.0% #* Global Indemnity P.L.C. 257,650 7,466,697 0.1% # Great Southern Bancorp, Inc. 4,777 181,574 0.0% #* Greenlight Capital Re, Ltd. Class A 155,321 5,040,166 0.1% # Griffin Land & Nurseries, Inc. 20,232 529,067 0.0% # Guaranty Bancorp 112,907 1,780,543 0.0% Guaranty Federal Bancshares, Inc. 32,452 411,978 0.0% * Hallmark Financial Services, Inc. 448,242 5,226,502 0.1% Hampden Bancorp, Inc. 9,957 171,260 0.0% Hancock Holding Co. 322,696 11,355,672 0.1% # Hanover Insurance Group, Inc. (The) 1,202,555 80,499,032 0.7% Harleysville Savings Financial Corp. 14,292 240,820 0.0% Hawthorn Bancshares, Inc. 29,321 403,457 0.0% # Heartland Financial USA, Inc. 7,274 193,488 0.0% Heritage Commerce Corp. 237,542 2,066,615 0.0% # Heritage Financial Corp. 60,088 1,054,544 0.0% Heritage Financial Group, Inc. 11,730 248,559 0.0% HF Financial Corp. 127,909 1,738,283 0.0% * Hilltop Holdings, Inc. 1,305,463 28,759,350 0.3% Hingham Institution for Savings 1,857 153,611 0.0% * HMN Financial, Inc. 102,799 1,332,275 0.0% * Home Bancorp, Inc. 6,475 147,565 0.0% # HomeStreet, Inc. 21,057 366,813 0.0% #* HomeTrust Bancshares, Inc. 37,577 580,565 0.0% HopFed Bancorp, Inc. 72,033 824,058 0.0% Horace Mann Educators Corp. 942,774 28,669,757 0.3% # Horizon Bancorp 19,548 502,775 0.0% # Iberiabank Corp. 304,205 20,947,556 0.2% #* Imperial Holdings, Inc. 71,283 446,944 0.0% # Independence Holding Co. 283,929 4,017,595 0.0% # Independent Bank Corp. 44,809 540,845 0.0% # Infinity Property & Casualty Corp. 466,507 34,059,676 0.3% # International Bancshares Corp. 821,926 23,318,041 0.2% Intervest Bancshares Corp. Class A 174,269 1,699,123 0.0% #* INTL. FCStone, Inc. 20,728 375,177 0.0% * Investment Technology Group, Inc. 341,572 6,124,386 0.1% Investors Title Co. 43,302 3,245,485 0.0% * Jacksonville Bancorp, Inc. 625 6,688 0.0% # Janus Capital Group, Inc. 2,759,995 41,372,325 0.4% JMP Group, Inc. 52,749 385,068 0.0% * KCG Holdings, Inc. Class A 351,422 3,746,159 0.0% # Kemper Corp. 1,693,849 62,418,336 0.5% Lake Shore Bancorp, Inc. 697 9,653 0.0% Lakeland Bancorp, Inc. 181,708 1,996,971 0.0% Landmark Bancorp, Inc. 25,597 611,768 0.0% LNB Bancorp, Inc. 215,712 3,028,596 0.0% U.S. SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) Louisiana Bancorp, Inc. 1,005 $ 20,984 0.0% LSB Financial Corp. 14,699 640,582 0.0% # Macatawa Bank Corp. 152,054 792,201 0.0% * Magyar Bancorp, Inc. 36,773 319,557 0.0% # Maiden Holdings, Ltd. 1,406,524 16,807,962 0.2% # MainSource Financial Group, Inc. 512,258 9,317,973 0.1% * Malvern Bancorp, Inc. 1,888 21,183 0.0% Marlin Business Services Corp. 345,056 7,294,484 0.1% #* Maui Land & Pineapple Co., Inc. 12,148 74,224 0.0% # MB Financial, Inc. 1,610,565 50,813,326 0.4% * MBIA, Inc. 6,839,686 66,755,335 0.6% * MBT Financial Corp. 358,206 1,665,658 0.0% # Meadowbrook Insurance Group, Inc. 1,515,118 9,651,302 0.1% # Medallion Financial Corp. 161,864 1,869,529 0.0% # Mercantile Bank Corp. 202,647 3,998,225 0.0% # Meta Financial Group, Inc. 49,599 1,860,458 0.0% #* Metro Bancorp, Inc. 401,510 10,053,810 0.1% MicroFinancial, Inc. 223,912 1,878,622 0.0% Mid Penn Bancorp, Inc. 4,664 72,245 0.0% # MidWestOne Financial Group, Inc. 16,034 427,787 0.0% # Montpelier Re Holdings, Ltd. 1,977,273 65,526,827 0.6% * MSB Financial Corp. 3,087 27,906 0.0% MutualFirst Financial, Inc. 140,766 3,061,661 0.0% # National Bank Holdings Corp. Class A 45,567 892,658 0.0% National Penn Bancshares, Inc. 1,223,406 12,588,850 0.1% National Security Group, Inc. (The) 11,290 153,657 0.0% # National Western Life Insurance Co. Class A 65,017 17,619,607 0.2% * Naugatuck Valley Financial Corp. 3,280 26,076 0.0% #* Navigators Group, Inc. (The) 465,338 31,684,864 0.3% # NBT Bancorp, Inc. 25,736 660,900 0.0% Nelnet, Inc. Class A 453,189 21,567,265 0.2% # New Hampshire Thrift Bancshares, Inc. 90,405 1,430,207 0.0% #* NewBridge Bancorp 250,514 2,227,069 0.0% #* NewStar Financial, Inc. 494,967 6,771,149 0.1% Nicholas Financial, Inc. 12,652 154,481 0.0% Northeast Bancorp 13,957 125,753 0.0% Northeast Community Bancorp, Inc. 10,981 76,867 0.0% # Northfield Bancorp, Inc. 398,991 5,681,632 0.1% # Northrim BanCorp, Inc. 137,999 3,988,171 0.0% Northway Financial, Inc. 7,359 149,020 0.0% # Northwest Bancshares, Inc. 2,006,070 25,737,878 0.2% # Norwood Financial Corp. 504 14,601 0.0% # Ocean Shore Holding Co. 18,712 269,453 0.0% # OFG Bancorp 1,100,440 17,133,851 0.2% # Old Line Bancshares, Inc. 39,695 634,326 0.0% Old National Bancorp 1,218,083 17,723,108 0.2% #* Old Second Bancorp, Inc. 317,787 1,525,378 0.0% OmniAmerican Bancorp, Inc. 8,717 235,708 0.0% # OneBeacon Insurance Group, Ltd. Class A 74,768 1,191,054 0.0% # Oppenheimer Holdings, Inc. Class A 74,907 1,838,967 0.0% # Oritani Financial Corp. 5,229 77,232 0.0% # Pacific Continental Corp. 44,636 643,651 0.0% U.S. SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) * Pacific Mercantile Bancorp 131,335 $ 924,598 0.0% #* Pacific Premier Bancorp, Inc. 119,828 1,940,015 0.0% # PacWest Bancorp 666,803 28,445,816 0.3% Park Sterling Corp. 717,464 5,495,774 0.1% #* Patriot National Bancorp, Inc. 76,824 141,356 0.0% Peoples Bancorp 14,576 352,010 0.0% # Peoples Bancorp of North Carolina, Inc. 32,318 565,565 0.0% # Peoples Bancorp, Inc. 290,320 7,156,388 0.1% #* PHH Corp. 2,039,058 48,305,284 0.4% #* Phoenix Cos., Inc. (The) 103,253 6,129,098 0.1% #* PICO Holdings, Inc. 96,774 2,138,705 0.0% # Pinnacle Financial Partners, Inc. 534,210 20,941,032 0.2% #* Piper Jaffray Cos. 341,899 19,303,618 0.2% Platinum Underwriters Holdings, Ltd. 978,955 61,311,952 0.5% * Popular, Inc. 778,942 24,832,671 0.2% #* Porter Bancorp, Inc. 8,106 5,684 0.0% # Preferred Bank 35,862 953,212 0.0% Premier Financial Bancorp, Inc. 154,104 2,245,295 0.0% # PrivateBancorp, Inc. 298,613 9,651,172 0.1% ProAssurance Corp. 196,563 9,195,217 0.1% Protective Life Corp. 106,626 7,429,700 0.1% Provident Financial Holdings, Inc. 194,169 2,830,984 0.0% # Provident Financial Services, Inc. 2,299,636 41,922,364 0.4% # Prudential Bancorp, Inc. 94 1,140 0.0% * PSB Holdings, Inc. 2,619 20,062 0.0% Pulaski Financial Corp. 233,961 2,800,513 0.0% * QC Holdings, Inc. 1,979 3,364 0.0% QCR Holdings, Inc. 2,479 44,002 0.0% # Renasant Corp. 552,381 16,654,287 0.2% # Republic Bancorp, Inc. Class A 15,952 386,836 0.0% * Republic First Bancorp, Inc. 77,655 308,290 0.0% # Resource America, Inc. Class A 460,490 4,393,075 0.0% * Riverview Bancorp, Inc. 460,438 1,873,983 0.0% * Royal Bancshares of Pennsylvania, Inc. Class A 16,564 30,975 0.0% # S&T Bancorp, Inc. 12,633 348,544 0.0% #* Safeguard Scientifics, Inc. 245,411 4,895,949 0.1% Safety Insurance Group, Inc. 424,003 26,449,307 0.2% # Salisbury Bancorp, Inc. 3,107 85,287 0.0% # Sandy Spring Bancorp, Inc. 332,975 8,590,755 0.1% SB Financial Group, Inc. 33,863 309,508 0.0% #* Security National Financial Corp. Class A 12,981 64,775 0.0% * Select Bancorp, Inc. 40,342 273,115 0.0% Selective Insurance Group, Inc. 1,868,331 48,240,306 0.4% #* Shore Bancshares, Inc. 10,316 94,701 0.0% SI Financial Group, Inc. 8,587 94,800 0.0% * Siebert Financial Corp. 50,658 110,941 0.0% # Sierra Bancorp 218,146 3,743,385 0.0% # Simmons First National Corp. Class A 35,643 1,496,650 0.0% Simplicity Bancorp, Inc. 9,042 149,826 0.0% South State Corp. 14,337 864,664 0.0% #* Southcoast Financial Corp. 123,556 857,479 0.0% (Degree)# Southern Community Financial Corp. 226,834 209,980 0.0% U.S. SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) * Southern First Bancshares, Inc. 67,157 $ 976,463 0.0% Southern Missouri Bancorp, Inc. 384 14,196 0.0% # Southern National Bancorp of Virginia, Inc. 5,903 68,357 0.0% Southwest Bancorp, Inc. 378,182 6,818,621 0.1% Southwest Georgia Financial Corp. 1,652 22,302 0.0% StanCorp Financial Group, Inc. 765,879 53,274,543 0.5% # State Auto Financial Corp. 824,944 17,266,078 0.2% # Sterling Bancorp 1,208,631 16,993,352 0.2% # Stewart Information Services Corp. 645,728 22,807,113 0.2% #* Stratus Properties, Inc. 122,308 1,690,297 0.0% # Suffolk Bancorp 3,646 83,712 0.0% # Summit State Bank 8,558 110,313 0.0% #* Sun Bancorp, Inc. 118,365 2,390,973 0.0% Susquehanna Bancshares, Inc. 6,432,807 63,105,837 0.6% Sussex Bancorp 30,750 309,038 0.0% * SWS Group, Inc. 1,900 14,041 0.0% Symetra Financial Corp. 1,798,965 42,635,471 0.4% Synovus Financial Corp. 905,350 22,959,676 0.2% # Territorial Bancorp, Inc. 13,340 286,543 0.0% Timberland Bancorp, Inc. 186,434 1,968,743 0.0% # Tompkins Financial Corp. 89 4,468 0.0% # Towne Bank 86,026 1,304,154 0.0% #* Transcontinental Realty Investors, Inc. 1,274 14,651 0.0% #* Tree.com, Inc. 122,196 4,520,030 0.0% Trico Bancshares 3,602 94,733 0.0% #* Trinity Place Holdings, Inc. 366,813 2,112,843 0.0% * TriState Capital Holdings, Inc. 3,223 31,424 0.0% # Trustmark Corp. 410,804 9,994,861 0.1% Umpqua Holdings Corp. 4,077,772 71,768,787 0.6% * Unico American Corp. 145,800 1,697,112 0.0% # Union Bankshares Corp. 673,643 15,143,495 0.1% United Bancshares, Inc. 9,093 134,758 0.0% United Community Bancorp 2,815 33,583 0.0% United Community Banks, Inc. 163,415 2,946,372 0.0% # United Community Financial Corp. 532,352 2,725,642 0.0% United Financial Bancorp, Inc. 344,427 4,832,311 0.0% # United Fire Group, Inc. 861,095 27,968,366 0.3% * United Security Bancshares 44,950 253,968 0.0% Unity Bancorp, Inc. 57,080 522,853 0.0% # Universal Insurance Holdings, Inc. 182,764 3,198,370 0.0% # Univest Corp. of Pennsylvania 25,777 528,944 0.0% # Valley National Bancorp 74,587 744,378 0.0% # VSB Bancorp, Inc. 833 9,850 0.0% #* Walker & Dunlop, Inc. 33,856 545,420 0.0% * Walter Investment Management Corp. 10,096 229,381 0.0% # Washington Federal, Inc. 2,520,952 55,032,382 0.5% # Waterstone Financial, Inc. 164,422 2,012,525 0.0% Wayne Savings Bancshares, Inc. 22,033 283,124 0.0% # Webster Financial Corp. 2,558,326 80,177,937 0.7% # WesBanco, Inc. 744,184 25,644,581 0.2% # West Bancorporation, Inc. 74,767 1,239,637 0.0% Westfield Financial, Inc. 393,351 2,780,992 0.0% U.S. SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) # Wintrust Financial Corp. 1,440,940 $ 66,744,341 0.6% # WSFS Financial Corp. 7,780 611,897 0.0% WVS Financial Corp. 1,740 19,010 0.0% * Yadkin Financial Corp. 22,887 444,237 0.0% -------------------- ------------------ Total Financials 2,998,815,317 26.0% -------------------- ------------------ Health Care -- (5.0%) #* Addus HomeCare Corp. 22,929 455,599 0.0% #* Affymetrix, Inc. 440,721 3,970,896 0.0% #* Albany Molecular Research, Inc. 873,537 20,318,471 0.2% * Alere, Inc. 994,495 39,749,965 0.4% #* Allied Healthcare Products, Inc. 207,331 389,782 0.0% * Almost Family, Inc. 71,507 2,105,166 0.0% #* Alphatec Holdings, Inc. 194,191 295,170 0.0% #* Amedisys, Inc. 520,988 13,597,787 0.1% * American Shared Hospital Services 87,469 189,808 0.0% #* Amsurg Corp. 585,359 31,615,240 0.3% #* AngioDynamics, Inc. 825,292 14,029,964 0.1% #* Anika Therapeutics, Inc. 150,003 6,021,120 0.1% * Arrhythmia Research Technology, Inc. 5,407 34,875 0.0% #* Bioanalytical Systems, Inc. 9,691 22,289 0.0% #* BioScrip, Inc. 934,593 6,037,471 0.1% #* BioTelemetry, Inc. 221,708 1,860,130 0.0% #* Capital Senior Living Corp. 371,023 8,348,018 0.1% CONMED Corp. 831,122 34,898,813 0.3% #* Cross Country Healthcare, Inc. 934,176 9,033,482 0.1% # CryoLife, Inc. 387,789 3,978,715 0.0% #* Cumberland Pharmaceuticals, Inc. 34,176 167,462 0.0% * Cutera, Inc. 388,502 4,079,271 0.0% #* Cynosure, Inc. Class A 27,719 701,014 0.0% Daxor Corp. 8,579 55,034 0.0% Digirad Corp. 253,185 1,088,696 0.0% #* Emergent Biosolutions, Inc. 110,333 2,495,732 0.0% Ensign Group, Inc. (The) 6,819 264,032 0.0% #* Enzo Biochem, Inc. 497,886 2,598,965 0.0% * Exactech, Inc. 15,787 336,263 0.0% * Five Star Quality Care, Inc. 996,370 4,115,008 0.0% * Gentiva Health Services, Inc. 498,385 9,818,184 0.1% * Greatbatch, Inc. 593,371 29,781,290 0.3% #* Hanger, Inc. 103,206 2,469,720 0.0% #* Harvard Apparatus Regenerative Technology, Inc. 43,963 276,088 0.0% * Harvard Bioscience, Inc. 190,105 912,504 0.0% * Health Net, Inc. 711,470 33,801,940 0.3% #* Healthways, Inc. 410,330 6,360,115 0.1% * ICU Medical, Inc. 5,994 424,975 0.0% # Invacare Corp. 705,366 11,081,300 0.1% #* Iridex Corp. 60,213 470,866 0.0% Kewaunee Scientific Corp. 68,740 1,196,076 0.0% Kindred Healthcare, Inc. 1,543,209 33,564,796 0.3% #* Lannett Co., Inc. 76,215 4,322,915 0.1% # LeMaitre Vascular, Inc. 72,587 531,337 0.0% #* LHC Group, Inc. 98,935 2,409,067 0.0% U.S. SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Health Care -- (Continued) * LifePoint Hospitals, Inc. 1,892,213 $ 132,454,910 1.2% #* Magellan Health Services, Inc. 445,919 26,987,018 0.2% * MedAssets, Inc. 17,474 378,487 0.0% (Degree)#* MedCath Corp. 622,045 -- 0.0% #* MediciNova, Inc. 18,700 66,759 0.0% #* Merit Medical Systems, Inc. 152,749 2,314,147 0.0% * Misonix, Inc. 131,503 1,756,880 0.0% #* Molina Healthcare, Inc. 186,614 9,076,905 0.1% National Healthcare Corp. 400 24,124 0.0% #* Natus Medical, Inc. 75,052 2,551,768 0.0% * Orthofix International NV 141,375 4,149,356 0.0% #* Pacific Biosciences of California, Inc. 99,826 654,859 0.0% Paratek Pharmaceuticals, Inc. 224 3,640 0.0% * PDI, Inc. 294,287 535,602 0.0% #* Pernix Therapeutics Holdings, Inc. 4,185 40,804 0.0% * PharMerica Corp. 621,715 17,837,003 0.2% #* Prestige Brands Holdings, Inc. 1,233,861 43,703,357 0.4% Psychemedics Corp. 365 5,271 0.0% #* RadNet, Inc. 285,137 2,651,774 0.0% #* Retractable Technologies, Inc. 39,828 143,779 0.0% #* Rigel Pharmaceuticals, Inc. 36,828 72,919 0.0% #* RTI Surgical, Inc. 699,904 3,562,511 0.0% #* Sciclone Pharmaceuticals, Inc. 54,661 417,610 0.0% Select Medical Holdings Corp. 425,126 6,130,317 0.1% #* Skilled Healthcare Group, Inc. Class A 50,778 351,892 0.0% * Stereotaxis, Inc. 2,235 4,425 0.0% #* Sucampo Pharmaceuticals, Inc. Class A 277,919 2,395,662 0.0% * Symmetry Medical, Inc. 972,226 9,625,037 0.1% * Targacept, Inc. 54,694 127,984 0.0% #* Triple-S Management Corp. Class B 620,342 13,734,372 0.1% * Universal American Corp. 2,163,085 20,159,952 0.2% * VCA, Inc. 64,827 2,954,166 0.0% #* WellCare Health Plans, Inc. 305,436 20,729,941 0.2% (Degree)* Xstelos Holdings, Inc. 251,700 85,578 0.0% -------------------- ------------------ Total Health Care 675,964,220 5.9% -------------------- ------------------ Industrials -- (15.6%) # AAR Corp. 1,219,958 32,328,887 0.3% # ABM Industries, Inc. 210,126 5,807,883 0.1% #* ACCO Brands Corp. 1,273,861 10,483,876 0.1% * Accuride Corp. 51,154 246,562 0.0% # Aceto Corp. 526,684 11,976,794 0.1% Acme United Corp. 2,707 46,696 0.0% Actuant Corp. Class A 127,518 4,041,045 0.0% #* AECOM Technology Corp. 10,662 347,048 0.0% #* Aegion Corp. 1,003,901 18,391,466 0.2% #* AeroCentury Corp. 31,474 349,991 0.0% * Air Transport Services Group, Inc. 904,036 7,395,015 0.1% # Aircastle, Ltd. 1,404,483 26,797,536 0.2% Alamo Group, Inc. 313,308 13,422,115 0.1% # Albany International Corp. Class A 8,412 317,805 0.0% (Degree) Allied Defense Group, Inc. 118,807 9,505 0.0% U.S. SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) Allied Motion Technologies, Inc. 44,049 $ 646,639 0.0% * Alpha PRO Tech, Ltd. 16,424 55,349 0.0% AMERCO 343,691 93,181,504 0.8% #* Ameresco, Inc. Class A 37,471 308,761 0.0% # American Railcar Industries, Inc. 457,228 30,090,175 0.3% #* AMREP Corp. 8,733 33,971 0.0% # Apogee Enterprises, Inc. 61,117 2,683,036 0.0% * ARC Document Solutions, Inc. 139,548 1,416,412 0.0% # ArcBest Corp. 775,943 30,028,994 0.3% #* Arotech Corp. 57,107 168,466 0.0% # Astec Industries, Inc. 98,387 3,729,851 0.0% #* Atlas Air Worldwide Holdings, Inc. 778,530 28,743,328 0.3% * Avalon Holdings Corp. Class A 51,820 181,370 0.0% * Avis Budget Group, Inc. 1,480,212 82,521,819 0.7% # Baltic Trading, Ltd. 456,062 1,710,233 0.0% # Barnes Group, Inc. 318,231 11,634,525 0.1% # Barrett Business Services, Inc. 48,543 1,141,246 0.0% #* Beacon Roofing Supply, Inc. 25,010 692,027 0.0% * BlueLinx Holdings, Inc. 836,669 1,004,003 0.0% Brady Corp. Class A 210,118 5,009,213 0.0% # Briggs & Stratton Corp. 1,352,730 27,338,673 0.2% Brink's Co. (The) 160,692 3,374,532 0.0% #* Builders FirstSource, Inc. 68,683 407,290 0.0% #* CAI International, Inc. 114,527 2,410,793 0.0% #* Casella Waste Systems, Inc. Class A 14,929 67,181 0.0% #* CBIZ, Inc. 545,911 5,038,759 0.0% CDI Corp. 405,949 6,978,263 0.1% # Ceco Environmental Corp. 108,580 1,554,866 0.0% Celadon Group, Inc. 129,731 2,524,565 0.0% Chicago Rivet & Machine Co. 28,248 876,535 0.0% Civeo Corp. 147,168 1,793,978 0.0% Columbus McKinnon Corp. 20,937 595,658 0.0% # Comfort Systems USA, Inc. 72,984 1,121,034 0.0% Compx International, Inc. 67,191 747,836 0.0% Con-way, Inc. 420,906 18,254,693 0.2% Courier Corp. 70,216 952,831 0.0% # Covanta Holding Corp. 2,570,277 56,726,013 0.5% * Covenant Transportation Group, Inc. Class A 222,806 4,620,996 0.0% #* CPI Aerostructures, Inc. 7,476 71,396 0.0% * CRA International, Inc. 65,831 1,974,930 0.0% # Cubic Corp. 27,447 1,324,043 0.0% Curtiss-Wright Corp. 643,162 44,513,242 0.4% #* DigitalGlobe, Inc. 622,306 17,791,729 0.2% Douglas Dynamics, Inc. 1,820 37,729 0.0% * Ducommun, Inc. 309,369 8,170,435 0.1% #* Dycom Industries, Inc. 433,935 13,621,220 0.1% # Dynamic Materials Corp. 23,792 433,252 0.0% * Eagle Bulk Shipping, Inc. 63 1,023 0.0% Eastern Co. (The) 74,595 1,217,390 0.0% Ecology and Environment, Inc. Class A 35,051 346,654 0.0% # EMCOR Group, Inc. 86,295 3,808,198 0.0% # Encore Wire Corp. 261,687 9,928,405 0.1% U.S. SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) #* Energy Recovery, Inc. 27,016 $ 123,733 0.0% * Engility Holdings, Inc. 191,303 8,264,290 0.1% # Ennis, Inc. 757,408 11,232,361 0.1% #* Erickson, Inc. 700 9,828 0.0% # ESCO Technologies, Inc. 172,212 6,547,500 0.1% #* Esterline Technologies Corp. 1,145,345 134,131,353 1.2% Federal Signal Corp. 982,704 13,954,397 0.1% #* Franklin Covey Co. 213,063 4,178,165 0.0% # FreightCar America, Inc. 29,012 956,526 0.0% #* FTI Consulting, Inc. 787,142 31,784,794 0.3% #* Fuel Tech, Inc. 141,932 574,825 0.0% * Furmanite Corp. 2,600 19,448 0.0% G&K Services, Inc. Class A 577,409 36,417,186 0.3% # GATX Corp. 1,763,892 111,830,753 1.0% #* Gencor Industries, Inc. 35,002 339,169 0.0% # General Cable Corp. 1,763,432 24,987,831 0.2% #* Gibraltar Industries, Inc. 880,541 13,428,250 0.1% # Global Power Equipment Group, Inc. 15,124 206,140 0.0% #* GP Strategies Corp. 153,177 5,079,349 0.1% #* GrafTech International, Ltd. 1,904,500 8,170,305 0.1% # Granite Construction, Inc. 360,394 13,302,143 0.1% #* Great Lakes Dredge & Dock Corp. 1,568,652 10,964,878 0.1% # Greenbrier Cos., Inc. (The) 770,646 48,196,201 0.4% # Griffon Corp. 1,509,131 18,547,220 0.2% H&E Equipment Services, Inc. 301,416 11,269,944 0.1% Hardinge, Inc. 264,203 2,964,358 0.0% #* Hawaiian Holdings, Inc. 456,670 7,918,658 0.1% Heidrick & Struggles International, Inc. 51,545 1,073,167 0.0% #* Hill International, Inc. 487,041 1,889,719 0.0% Houston Wire & Cable Co. 3,190 43,256 0.0% * Hudson Global, Inc. 389,082 1,326,770 0.0% Hurco Cos., Inc. 133,014 5,125,029 0.1% # Hyster-Yale Materials Handling, Inc. 277,119 21,751,070 0.2% #* ICF International, Inc. 140,127 5,092,215 0.1% #* InnerWorkings, Inc. 133,113 1,208,666 0.0% Insteel Industries, Inc. 194,756 4,642,983 0.0% * Integrated Electrical Services, Inc. 1,093 8,668 0.0% * Intelligent Systems Corp. 27,446 33,347 0.0% # International Shipholding Corp. 220,892 4,426,676 0.0% # Intersections, Inc. 165,041 660,164 0.0% #* JetBlue Airways Corp. 10,893,799 125,714,440 1.1% * JPS Industries, Inc. 42,199 299,613 0.0% Kadant, Inc. 409,129 16,913,393 0.2% KBR, Inc. 183,559 3,502,306 0.0% # Kelly Services, Inc. Class A 995,108 17,543,754 0.2% Kelly Services, Inc. Class B 567 8,576 0.0% #* Key Technology, Inc. 10,099 133,711 0.0% # Kimball International, Inc. Class B 798,085 14,349,568 0.1% * Korn/Ferry International 390,091 10,895,242 0.1% #* Kratos Defense & Security Solutions, Inc. 873,696 6,089,661 0.1% * Lawson Products, Inc. 201,534 4,852,939 0.0% #* Layne Christensen Co. 504,050 3,629,160 0.0% U.S. SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) # LB Foster Co. Class A 57,048 $ 3,085,726 0.0% #* LMI Aerospace, Inc. 156,906 2,068,021 0.0% LS Starrett Co. (The) Class A 183,253 2,708,479 0.0% # LSI Industries, Inc. 211,707 1,515,822 0.0% #* Lydall, Inc. 417,771 12,921,657 0.1% * Magnetek, Inc. 29,000 901,030 0.0% # Marten Transport, Ltd. 855,899 16,792,738 0.2% #* MasTec, Inc. 21,400 612,896 0.0% Mastech Holdings, Inc. 58,730 690,078 0.0% Matson, Inc. 921,968 26,266,868 0.2% # Matthews International Corp. Class A 53,876 2,482,606 0.0% # McGrath RentCorp 112,312 4,102,757 0.0% #* Meritor, Inc. 76,805 882,489 0.0% * Mfri, Inc. 204,852 1,868,250 0.0% # Miller Industries, Inc. 299,425 5,919,632 0.1% # Mobile Mini, Inc. 1,204,001 52,771,364 0.5% #* Moog, Inc. Class A 70,232 5,375,557 0.1% * MRC Global, Inc. 694,085 14,596,608 0.1% Mueller Water Products, Inc. Class A 3,721,812 36,734,284 0.3% # Multi-Color Corp. 32,599 1,607,131 0.0% #* MYR Group, Inc. 63,191 1,639,175 0.0% #* Navigant Consulting, Inc. 709,620 10,921,052 0.1% # NL Industries, Inc. 170,882 1,245,730 0.0% NN, Inc. 484,982 12,124,550 0.1% #* Northwest Pipe Co. 259,312 9,278,183 0.1% #* Ocean Power Technologies, Inc. 88,447 88,447 0.0% * Orbital Sciences Corp. 172,568 4,538,538 0.0% #* Orion Energy Systems, Inc. 105,731 607,953 0.0% #* Orion Marine Group, Inc. 198,979 2,180,810 0.0% #* PAM Transportation Services, Inc. 157,983 6,790,109 0.1% # Park-Ohio Holdings Corp. 113,670 6,037,014 0.1% * Patrick Industries, Inc. 122,532 5,234,567 0.1% #* Patriot Transportation Holding, Inc. 7,369 312,151 0.0% * PGT, Inc. 80,347 755,664 0.0% * Pike Corp. 458,547 5,475,051 0.1% #* PMFG, Inc. 7,327 38,540 0.0% # Powell Industries, Inc. 3,392 154,438 0.0% #* PowerSecure International, Inc. 296,322 3,309,917 0.0% # Preformed Line Products Co. 44,160 2,516,678 0.0% # Providence and Worcester Railroad Co. 88,450 1,573,526 0.0% Quad/Graphics, Inc. 212,630 4,688,492 0.0% * Quality Distribution, Inc. 162,863 2,110,705 0.0% # Quanex Building Products Corp. 152,853 3,060,117 0.0% * RCM Technologies, Inc. 215,529 1,625,089 0.0% Regal-Beloit Corp. 19,559 1,388,102 0.0% #* Republic Airways Holdings, Inc. 1,610,866 20,168,042 0.2% # Resources Connection, Inc. 89,801 1,389,222 0.0% * Roadrunner Transportation Systems, Inc. 154,662 3,187,584 0.0% * RPX Corp. 102,247 1,436,570 0.0% #* Rush Enterprises, Inc. Class A 863,601 32,903,198 0.3% * Rush Enterprises, Inc. Class B 332,305 10,743,421 0.1% * Saia, Inc. 631,194 30,941,130 0.3% U.S. SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) * Servotronics, Inc. 15,025 $ 96,310 0.0% # SIFCO Industries, Inc. 68,152 2,318,531 0.0% Simpson Manufacturing Co., Inc. 7,544 249,556 0.0% # SkyWest, Inc. 1,677,092 19,320,100 0.2% * SL Industries, Inc. 28,931 1,301,895 0.0% * Sparton Corp. 311,191 8,433,276 0.1% Standex International Corp. 211,753 18,263,696 0.2% #* Sterling Construction Co., Inc. 173,748 1,532,457 0.0% Supreme Industries, Inc. Class A 178,808 1,189,073 0.0% # TAL International Group, Inc. 169,191 7,297,208 0.1% #* Tecumseh Products Co. 468,676 1,729,414 0.0% Tetra Tech, Inc. 348,098 9,332,507 0.1% Textainer Group Holdings, Ltd. 752 25,899 0.0% # Titan International, Inc. 963,787 10,177,591 0.1% #* Titan Machinery, Inc. 70,698 972,805 0.0% #* Transcat, Inc. 58,439 614,194 0.0% * TRC Cos., Inc. 316,913 2,307,127 0.0% * Trimas Corp. 12,158 384,922 0.0% # Trinity Industries, Inc. 875,534 31,265,319 0.3% #* Tutor Perini Corp. 1,352,423 37,881,368 0.3% # Twin Disc, Inc. 65,373 1,701,005 0.0% * Ultralife Corp. 140,452 445,233 0.0% #* Ultrapetrol Bahamas, Ltd. 242,535 730,030 0.0% UniFirst Corp. 163,478 18,237,606 0.2% # United Stationers, Inc. 133,459 5,574,582 0.1% Universal Forest Products, Inc. 622,834 31,123,015 0.3% #* USA Truck, Inc. 307,125 5,190,413 0.1% #* UTi Worldwide, Inc. 71,551 782,052 0.0% * Veritiv Corp. 767 34,599 0.0% * Versar, Inc. 45,303 147,235 0.0% Viad Corp. 536,664 13,690,299 0.1% * Virco Manufacturing Corp. 47,331 128,267 0.0% #* Volt Information Sciences, Inc. 527,356 4,371,781 0.0% # VSE Corp. 8,429 508,100 0.0% # Watts Water Technologies, Inc. Class A 418,407 25,368,016 0.2% # Werner Enterprises, Inc. 641,326 17,662,118 0.2% #* Wesco Aircraft Holdings, Inc. 98,718 1,752,245 0.0% #* Willdan Group, Inc. 38,985 511,483 0.0% * Willis Lease Finance Corp. 294,405 6,715,378 0.1% #* XPO Logistics, Inc. 486 19,401 0.0% -------------------- ------------------ Total Industrials 2,113,934,850 18.4% -------------------- ------------------ Information Technology -- (12.6%) #* Acorn Energy, Inc. 140,865 147,908 0.0% * Actua Corp. 707,126 13,293,969 0.1% #* ADDvantage Technologies Group, Inc. 4,523 10,900 0.0% #* Advanced Energy Industries, Inc. 164,254 3,248,944 0.0% #* Aehr Test Systems 54,035 139,951 0.0% #* Aetrium, Inc. 5,603 19,723 0.0% #* Agilysys, Inc. 502,038 5,673,029 0.1% #* Alpha & Omega Semiconductor, Ltd. 377,716 3,501,427 0.0% * Amkor Technology, Inc. 630,631 4,275,678 0.0% U.S. SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) #* ANADIGICS, Inc. 218,810 $ 155,355 0.0% #* AOL, Inc. 523,420 22,784,473 0.2% * ARRIS Group, Inc. 132,983 3,992,150 0.0% #* Ascent Solar Technologies, Inc. 11,827 20,816 0.0% Astro-Med, Inc. 167,804 2,250,252 0.0% #* Audience, Inc. 11,613 43,316 0.0% * Autobytel, Inc. 55,623 513,957 0.0% #* Aviat Networks, Inc. 1,151,085 2,025,910 0.0% * Avid Technology, Inc. 973,693 9,785,615 0.1% # AVX Corp. 374,602 5,409,253 0.1% Aware, Inc. 660,227 2,852,181 0.0% #* Axcelis Technologies, Inc. 487,072 1,061,817 0.0% * AXT, Inc. 210,884 497,686 0.0% Bel Fuse, Inc. Class A 14,272 362,509 0.0% Bel Fuse, Inc. Class B 185,941 5,260,271 0.1% * Benchmark Electronics, Inc. 2,299,623 54,547,058 0.5% Black Box Corp. 510,256 11,220,529 0.1% * Blonder Tongue Laboratories 19,745 20,535 0.0% #* Blucora, Inc. 1,010,599 17,129,653 0.2% (Degree)* Bogen Corp. 43,300 -- 0.0% #* BroadVision, Inc. 17,915 142,603 0.0% # Brooks Automation, Inc. 2,078,713 25,630,531 0.2% * Bsquare Corp. 74,978 293,164 0.0% * BTU International, Inc. 17,638 58,735 0.0% * CACI International, Inc. Class A 845,691 69,591,912 0.6% #* Calix, Inc. 28,232 305,188 0.0% * Cartesian, Inc. 10,673 41,731 0.0% #* Cascade Microtech, Inc. 344,241 3,697,148 0.0% #* Ceva, Inc. 6,333 103,228 0.0% * Checkpoint Systems, Inc. 516,166 6,844,361 0.1% #* ChyronHego Corp. 51,176 146,363 0.0% #* CIBER, Inc. 2,062,040 6,742,871 0.1% #* Clearfield, Inc. 44,712 656,372 0.0% * Coherent, Inc. 464,158 30,239,894 0.3% Cohu, Inc. 699,048 7,130,290 0.1% (Degree)* Commerce One, LLC 55,600 -- 0.0% Communications Systems, Inc. 155,779 1,842,866 0.0% Computer Task Group, Inc. 127,500 1,122,000 0.0% Compuware Corp. 138,972 1,410,566 0.0% Comtech Telecommunications Corp. 461,397 17,565,384 0.2% Concurrent Computer Corp. 140,892 1,000,333 0.0% # Convergys Corp. 3,909,664 78,857,923 0.7% #* Covisint Corp. 19,491 56,329 0.0% CSP, Inc. 125,308 998,705 0.0% CTS Corp. 1,225,517 22,549,513 0.2% #* CyberOptics Corp. 237,710 2,175,046 0.0% #* Data I/O Corp. 74,290 250,357 0.0% #* Datalink Corp. 10,409 131,674 0.0% #* Dataram Corp. 2,200 4,774 0.0% #* Demand Media, Inc. 92,321 649,940 0.0% #* Digi International, Inc. 715,715 5,926,120 0.1% # Digimarc Corp. 29,179 845,899 0.0% U.S. SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) #* Digital River, Inc. 414,015 $ 10,586,364 0.1% #* Diodes, Inc. 207,302 5,354,611 0.1% * Dot Hill Systems Corp. 388,477 1,534,484 0.0% #* DSP Group, Inc. 549,920 5,328,725 0.1% # EarthLink Holdings Corp. 2,638,599 9,446,184 0.1% #* Eastman Kodak Co. 1,200 25,884 0.0% * Edgewater Technology, Inc. 298,591 2,108,052 0.0% # Electro Rent Corp. 549,749 8,378,175 0.1% # Electro Scientific Industries, Inc. 856,621 6,082,009 0.1% #* Electronics for Imaging, Inc. 694,833 31,767,765 0.3% * Emcore Corp. 51,228 264,336 0.0% #* Emulex Corp. 1,392,516 7,881,641 0.1% #* Entropic Communications, Inc. 332,458 831,145 0.0% # EPIQ Systems, Inc. 359,500 5,766,380 0.1% #* ePlus, Inc. 270,502 16,519,557 0.1% #* Exar Corp. 869,584 8,304,527 0.1% #* Fabrinet 66,374 1,208,671 0.0% #* Fairchild Semiconductor International, Inc. 4,155,476 63,786,557 0.6% #* Finisar Corp. 69,784 1,166,788 0.0% * FormFactor, Inc. 1,036,231 8,258,761 0.1% * Frequency Electronics, Inc. 218,323 2,477,966 0.0% #* Giga-tronics, Inc. 10,700 17,655 0.0% * GigOptix, Inc. 21,536 26,920 0.0% * Global Cash Access Holdings, Inc. 2,920 21,287 0.0% * GSE Systems, Inc. 19,948 30,121 0.0% * GSI Group, Inc. 43,177 554,824 0.0% #* GSI Technology, Inc. 4,223 20,313 0.0% Hackett Group, Inc. (The) 202,943 1,422,630 0.0% #* Harmonic, Inc. 1,528,581 10,195,635 0.1% #* Hutchinson Technology, Inc. 648,719 2,315,927 0.0% * ID Systems, Inc. 153,839 1,153,792 0.0% * Identiv, Inc. 10,430 97,521 0.0% * IEC Electronics Corp. 2,894 14,325 0.0% #* II-VI, Inc. 186,443 2,515,116 0.0% #* Ikanos Communications, Inc. 13,348 5,567 0.0% #* Imation Corp. 1,427,295 4,181,974 0.0% * Insight Enterprises, Inc. 1,137,479 25,877,647 0.2% # Integrated Silicon Solution, Inc. 486,806 6,610,825 0.1% #* Internap Network Services Corp. 595,572 4,770,532 0.0% * International Rectifier Corp. 1,786,838 71,062,547 0.6% * Internet Patents Corp. 16,755 51,270 0.0% * Interphase Corp. 78,699 230,588 0.0% Intersil Corp. Class A 2,155,669 28,648,841 0.3% * inTEST Corp. 4,600 20,056 0.0% #* Intevac, Inc. 124,316 919,938 0.0% * IntraLinks Holdings, Inc. 287,898 2,487,439 0.0% * IntriCon Corp. 44,161 270,707 0.0% #* iPass, Inc. 89,409 119,808 0.0% * Iteris, Inc. 107,467 186,993 0.0% #* Itron, Inc. 298,742 11,630,026 0.1% #* Ixia 80,127 771,623 0.0% # IXYS Corp. 93,458 1,090,655 0.0% U.S. SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) #* Kemet Corp. 215,884 $ 1,036,243 0.0% * Key Tronic Corp. 351,713 2,891,081 0.0% #* Knowles Corp. 24,738 481,401 0.0% #* Kopin Corp. 5,300 20,140 0.0% * Kulicke & Soffa Industries, Inc. 1,547,484 22,314,719 0.2% #* KVH Industries, Inc. 144,739 1,870,028 0.0% * Lattice Semiconductor Corp. 751,530 5,042,766 0.0% Leidos Holdings, Inc. 10,899 398,576 0.0% # Lexmark International, Inc. Class A 588,554 25,401,991 0.2% #* LGL Group, Inc. (The) 8,402 31,844 0.0% #* Limelight Networks, Inc. 143,590 350,360 0.0% #* Lionbridge Technologies, Inc. 65,229 315,056 0.0% * LoJack Corp. 138,946 391,828 0.0% * Magnachip Semiconductor Corp. 60,106 668,980 0.0% # ManTech International Corp. Class A 339,492 9,560,095 0.1% Marchex, Inc. Class B 255,488 978,519 0.0% #* Mercury Systems, Inc. 130,786 1,828,388 0.0% Methode Electronics, Inc. 495,371 19,507,710 0.2% # MKS Instruments, Inc. 1,455,362 52,975,177 0.5% #* ModusLink Global Solutions, Inc. 838,727 2,935,544 0.0% #* Monster Worldwide, Inc. 2,559,041 9,877,898 0.1% #* MoSys, Inc. 144,081 387,578 0.0% #* Multi-Fineline Electronix, Inc. 6,091 61,824 0.0% * NAPCO Security Technologies, Inc. 42,075 180,081 0.0% * NCI, Inc. Class A 7,285 74,161 0.0% * NeoPhotonics Corp. 22,098 71,598 0.0% * NETGEAR, Inc. 473,129 16,105,311 0.1% * Newport Corp. 1,041,072 18,624,778 0.2% #* Novatel Wireless, Inc. 204,994 584,233 0.0% #* Numerex Corp. Class A 74,440 970,698 0.0% #* Oclaro, Inc. 313,892 492,810 0.0% * OmniVision Technologies, Inc. 1,595,054 42,715,546 0.4% * Omtool, Ltd. 16,864 40,052 0.0% Oplink Communications, Inc. 227,725 4,748,066 0.0% # Optical Cable Corp. 169,845 788,081 0.0% * PAR Technology Corp. 147,203 756,476 0.0% # Park Electrochemical Corp. 1,300 33,540 0.0% # PC Connection, Inc. 869,589 20,739,698 0.2% PC-Tel, Inc. 613,025 4,720,292 0.0% * PCM, Inc. 204,946 1,979,778 0.0% * PDF Solutions, Inc. 88,398 1,146,522 0.0% Perceptron, Inc. 200,875 2,022,811 0.0% * Perficient, Inc. 19,898 329,909 0.0% * Pericom Semiconductor Corp. 531,128 5,805,229 0.1% #* Photronics, Inc. 1,815,434 16,320,752 0.1% #* Planar Systems, Inc. 433,986 1,571,029 0.0% * Plexus Corp. 33,549 1,387,251 0.0% * Polycom, Inc. 2,956,242 38,667,645 0.3% #* PRGX Global, Inc. 9,228 48,816 0.0% * QLogic Corp. 1,680,034 19,841,202 0.2% #* Qualstar Corp. 379,283 466,518 0.0% #* QuinStreet, Inc. 28,281 114,538 0.0% U.S. SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) * Qumu Corp. 35,376 $ 529,225 0.0% * Radisys Corp. 233,276 583,190 0.0% #* RealNetworks, Inc. 670,097 4,623,669 0.0% # Reis, Inc. 330,668 7,737,631 0.1% #* Relm Wireless Corp. 130,663 725,180 0.0% # RF Industries, Ltd. 65,574 298,362 0.0% Richardson Electronics, Ltd. 434,010 4,344,440 0.0% #* Rightside Group, Ltd. 60,040 568,579 0.0% #* Rofin-Sinar Technologies, Inc. 120,398 2,695,711 0.0% #* Rogers Corp. 21,346 1,459,426 0.0% * Rovi Corp. 1,341,657 28,013,798 0.2% #* Rudolph Technologies, Inc. 74,470 653,847 0.0% * Sanmina Corp. 2,283,569 57,249,075 0.5% * ScanSource, Inc. 144,600 5,520,828 0.1% #* Seachange International, Inc. 576,574 3,897,640 0.0% #* Selectica, Inc. 3,912 23,218 0.0% #* Sevcon, Inc. 2,400 18,264 0.0% * Sigma Designs, Inc. 834,143 3,328,231 0.0% * Sigmatron International, Inc. 16,500 115,665 0.0% * Silicon Image, Inc. 11,116 59,582 0.0% #* Spansion, Inc. Class A 1,014,477 20,877,937 0.2% #* Speed Commerce, Inc. 54,871 162,967 0.0% #* StarTek, Inc. 236,335 1,777,239 0.0% #* SunPower Corp. 186,011 5,922,590 0.1% * Super Micro Computer, Inc. 52,348 1,673,042 0.0% * support.com, Inc. 876,171 1,866,244 0.0% #* Sykes Enterprises, Inc. 446,974 9,627,820 0.1% #* Synacor, Inc. 5,200 9,880 0.0% # SYNNEX Corp. 1,287,443 89,065,307 0.8% * Tech Data Corp. 1,092,101 65,220,272 0.6% #* TechTarget, Inc. 16,618 158,536 0.0% #* TeleCommunication Systems, Inc. Class A 1,041,118 2,998,420 0.0% #* Telenav, Inc. 32,126 231,950 0.0% # Tessco Technologies, Inc. 73,369 2,329,466 0.0% Tessera Technologies, Inc. 7,447 226,314 0.0% TheStreet, Inc. 467,983 1,071,681 0.0% * Trio Tech International 39,533 152,202 0.0% * TriQuint Semiconductor, Inc. 3,614,088 78,172,723 0.7% * TSR, Inc. 1,145 3,756 0.0% #* TTM Technologies, Inc. 764,060 5,279,655 0.1% #* Ultra Clean Holdings, Inc. 263,708 2,315,356 0.0% #* Ultratech, Inc. 10,569 202,185 0.0% United Online, Inc. 392,147 4,399,889 0.0% #* Universal Security Instruments, Inc. 34,941 216,634 0.0% #* UTStarcom Holdings Corp. 36,804 92,746 0.0% * VeriFone Systems, Inc. 79,626 2,966,865 0.0% * Viasystems Group, Inc. 565,834 8,979,786 0.1% # Vicon Industries, Inc. 102,175 162,458 0.0% #* Video Display Corp. 5,282 15,582 0.0% # Vishay Intertechnology, Inc. 4,997,422 67,515,171 0.6% #* Vishay Precision Group, Inc. 377,668 6,416,579 0.1% * Westell Technologies, Inc. Class A 82,538 110,601 0.0% U.S. SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) * Wireless Telecom Group, Inc. 137,594 $ 342,609 0.0% * Xcerra Corp. 89,918 763,404 0.0% #* Zynga, Inc. Class A 2,042,087 5,207,322 0.1% -------------------- ------------------ Total Information Technology 1,701,314,285 14.8% -------------------- ------------------ Materials -- (5.4%) # A Schulman, Inc. 654,583 23,178,784 0.2% #* Allied Nevada Gold Corp. 632,202 878,761 0.0% #* AM Castle & Co. 652,993 4,799,498 0.0% * American Biltrite, Inc. 110 48,950 0.0% # Ampco-Pittsburgh Corp. 69,986 1,524,995 0.0% Axiall Corp. 644,709 25,981,773 0.2% Cabot Corp. 27,483 1,276,036 0.0% Carpenter Technology Corp. 45,162 2,260,358 0.0% * Century Aluminum Co. 2,669,590 78,165,595 0.7% # Chase Corp. 1,380 49,501 0.0% * Clearwater Paper Corp. 57,635 3,708,812 0.0% #* Coeur Mining, Inc. 2,398,301 8,873,714 0.1% Commercial Metals Co. 2,981,173 51,544,481 0.5% * Continental Materials Corp. 14,260 230,869 0.0% * Core Molding Technologies, Inc. 198,499 2,640,037 0.0% Domtar Corp. 259,799 10,669,945 0.1% # Friedman Industries, Inc. 179,533 1,371,632 0.0% # FutureFuel Corp. 17,976 239,440 0.0% * Graphic Packaging Holding Co. 5,789,957 70,232,178 0.6% Greif, Inc. Class A 120,781 5,321,611 0.1% # Haynes International, Inc. 4,498 209,112 0.0% #* Headwaters, Inc. 429,196 5,450,789 0.1% # Hecla Mining Co. 759,385 1,655,459 0.0% #* Horsehead Holding Corp. 758,895 11,922,240 0.1% #* Intrepid Potash, Inc. 19,516 262,490 0.0% # Kaiser Aluminum Corp. 623,602 43,371,519 0.4% * KapStone Paper and Packaging Corp. 160,481 4,936,396 0.0% # KMG Chemicals, Inc. 3,874 68,570 0.0% * Kraton Performance Polymers, Inc. 276,260 4,942,291 0.1% # Kronos Worldwide, Inc. 3,583 48,155 0.0% #* Landec Corp. 680,408 8,566,337 0.1% #* Louisiana-Pacific Corp. 5,449,807 79,567,182 0.7% * LSB Industries, Inc. 63,469 2,381,992 0.0% # Materion Corp. 107,915 4,257,247 0.0% #* McEwen Mining, Inc. 151,270 187,575 0.0% #* Mercer International, Inc. 478,916 6,024,763 0.1% Minerals Technologies, Inc. 7,553 579,391 0.0% #* Mines Management, Inc. 44,085 22,924 0.0% # Myers Industries, Inc. 500,577 7,478,620 0.1% # Noranda Aluminum Holding Corp. 709,047 3,126,897 0.0% * Northern Technologies International Corp. 3,305 61,870 0.0% # Olin Corp. 1,390,828 33,713,671 0.3% # Olympic Steel, Inc. 299,197 6,019,844 0.1% # OM Group, Inc. 1,035,713 26,959,609 0.2% * Penford Corp. 262,146 4,941,452 0.0% # PH Glatfelter Co. 1,168,459 29,480,221 0.3% U.S. SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Materials -- (Continued) PolyOne Corp. 4,341 $ 160,660 0.0% #* Rentech, Inc. 506,484 805,310 0.0% * Resolute Forest Products, Inc. 534,317 9,916,923 0.1% * RTI International Metals, Inc. 982,778 23,144,422 0.2% # Schnitzer Steel Industries, Inc. Class A 695,680 16,383,264 0.1% Stepan Co. 4,285 189,740 0.0% #* Stillwater Mining Co. 1,670,526 21,934,006 0.2% * SunCoke Energy, Inc. 710,641 16,984,320 0.2% Synalloy Corp. 40,252 650,070 0.0% * Taminco Corp. 11,404 295,250 0.0% Tredegar Corp. 1,201,740 22,857,095 0.2% Tronox, Ltd. Class A 626,478 15,148,238 0.1% #* Universal Stainless & Alloy Products, Inc. 131,074 3,369,912 0.0% # Wausau Paper Corp. 369,974 3,659,043 0.0% * Webco Industries, Inc. 9,290 785,702 0.0% Westlake Chemical Corp. 160,824 11,346,133 0.1% # Zep, Inc. 9,576 153,791 0.0% -------------------- ------------------ Total Materials 727,017,465 6.3% -------------------- ------------------ Other -- (0.0%) (Degree)* Allen Organ Co. Escrow Shares 4,900 -- 0.0% (Degree)* Big 4 Ranch, Inc. 73,300 -- 0.0% (Degree)* Concord Camera Corp. Escrow Shares 95,952 -- 0.0% (Degree)* First Commerce Bancorp Escrow Shares 70,003 -- 0.0% (Degree)* Gerber Scientific, Inc. Escrow Shares 525,910 -- 0.0% (Degree)* Petrocorp, Inc. Escrow Shares 102,600 -- 0.0% -------------------- ------------------ Total Other -- 0.0% -------------------- ------------------ Real Estate Investment Trusts -- (0.0%) Geo Group, Inc. (The) 167,722 6,698,817 0.1% -------------------- ------------------ Telecommunication Services -- (0.3%) #* Alaska Communications Systems Group, Inc. 26,960 36,396 0.0% # Atlantic Tele-Network, Inc. 26,987 1,813,256 0.0% #* Boingo Wireless, Inc. 89,309 626,056 0.0% #* Cincinnati Bell, Inc. 851,428 3,124,741 0.1% #* General Communication, Inc. Class A 248,601 2,916,090 0.0% #* Hawaiian Telcom Holdco, Inc. 13,519 363,661 0.0% * HC2 Holdings, Inc. 10,700 56,710 0.0% # IDT Corp. Class B 19,306 318,163 0.0% #* Iridium Communications, Inc. 1,442,170 13,700,615 0.1% # Lumos Networks Corp. 2,724 46,853 0.0% #* ORBCOMM, Inc. 1,121,636 7,088,739 0.1% #* Premiere Global Services, Inc. 3,776 39,535 0.0% # Shenandoah Telecommunications Co. 867 25,655 0.0% Spok Holdings, Inc. 171,679 2,788,067 0.0% #* Straight Path Communications, Inc. Class B 9,653 208,505 0.0% Telephone & Data Systems, Inc. 455,469 11,678,225 0.1% * United States Cellular Corp. 9,046 329,455 0.0% -------------------- ------------------ Total Telecommunication Services 45,160,722 0.4% -------------------- ------------------ U.S. SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Utilities -- (0.1%) # Atlantic Power Corp. 15,344 $ 34,064 0.0% # Consolidated Water Co., Ltd. 147,812 1,772,266 0.0% * Dynegy, Inc. 212,225 6,472,863 0.1% #* Genie Energy, Ltd. Class B 32,852 238,177 0.0% # Ormat Technologies, Inc. 204,138 5,909,795 0.0% # SJW Corp. 16,389 523,792 0.0% -------------------- ------------------ Total Utilities 14,950,957 0.1% -------------------- ------------------ TOTAL COMMON STOCKS 11,463,568,696 99.6% -------------------- ------------------ PREFERRED STOCKS -- (0.0%) Other -- (0.0%) (Degree)* Enron TOPRS Escrow Shares 34,332 -- 0.0% -------------------- ------------------ RIGHTS/WARRANTS -- (0.0%) (Degree)* Capital Bank Corp. Contingent Value Rights 45,703 -- 0.0% (Degree)* CSF Holding, Inc. Litigation Rights 40,500 -- 0.0% (Degree)#* Eagle Bulk Shipping, Inc. Warrants 10/15/21 1,023 2,608 0.0% (Degree)* Leap Wireless International, Inc. Contingent Value Rights 978,534 2,465,906 0.0% (Degree)* LGL Group, Inc. (The) Warrants 08/06/18 42,010 836 0.0% (Degree)#* Magnum Hunter Resources Corp. Warrants 04/15/16 40,956 -- 0.0% (Degree)#* PhotoMedex, Inc. Contingent Value Warrants 12/13/14 10,016 -- 0.0% -------------------- ------------------ TOTAL RIGHTS/WARRANTS 2,469,350 0.0% -------------------- ------------------ TEMPORARY CASH INVESTMENTS -- (0.4%) State Street Institutional Liquid Reserves, 0.077% 60,521,987 60,521,987 0.5% -------------------- ------------------ SECURITIES LENDING COLLATERAL -- (14.9%) (S)@ DFA Short Term Investment Fund 173,376,578 2,005,967,006 17.4% -------------------- ------------------ TOTAL INVESTMENTS -- (100.0%) (Cost $10,254,873,984) $ 13,532,527,039 117.5% ==================== ================== U.S. SMALL CAP VALUE PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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 $ 1,699,657,064 -- -- $ 1,699,657,064 Consumer Staples 359,263,209 -- -- 359,263,209 Energy 1,120,791,790 -- -- 1,120,791,790 Financials 2,998,605,317 $ 210,000 -- 2,998,815,317 Health Care 675,878,642 85,578 -- 675,964,220 Industrials 2,113,925,345 9,505 -- 2,113,934,850 Information Technology 1,701,314,285 -- -- 1,701,314,285 Materials 727,017,465 -- -- 727,017,465 Other -- -- -- -- Real Estate Investment Trusts 6,698,817 -- -- 6,698,817 Telecommunication Services 45,160,722 -- -- 45,160,722 Utilities 14,950,957 -- -- 14,950,957 Preferred Stocks Other -- -- -- -- Rights/Warrants -- 2,469,350 -- 2,469,350 Temporary Cash Investments 60,521,987 -- -- 60,521,987 Securities Lending Collateral -- 2,005,967,006 -- 2,005,967,006 --------------------- -------------------- -------------------- ----------------------- TOTAL $ 11,523,785,600 $ 2,008,741,439 -- $ 13,532,527,039 ===================== ==================== ==================== ======================= U.S. CORE EQUITY 1 PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2014 PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- COMMON STOCKS -- (89.6%) Consumer Discretionary -- (13.3%) * 1-800-Flowers.com, Inc. Class A 25,370 $ 203,721 0.0% Aaron's, Inc. 84,741 2,098,187 0.0% # Abercrombie & Fitch Co. Class A 76,712 2,568,318 0.0% Advance Auto Parts, Inc. 46,700 6,863,032 0.1% #* Aeropostale, Inc. 58,751 176,841 0.0% * AG&E Holdings, Inc. 2,858 3,230 0.0% # AH Belo Corp. Class A 15,518 178,612 0.0% * Amazon.com, Inc. 149,526 45,674,212 0.4% * Ambassadors Group, Inc. 8,122 28,833 0.0% #* AMC Networks, Inc. Class A 58,432 3,543,901 0.0% AMCON Distributing Co. 247 20,249 0.0% #* America's Car-Mart, Inc. 10,832 498,055 0.0% * American Axle & Manufacturing Holdings, Inc. 87,985 1,700,750 0.0% # American Eagle Outfitters, Inc. 185,720 2,390,216 0.0% #* American Public Education, Inc. 17,979 557,169 0.0% * ANN, Inc. 88,155 3,384,270 0.0% * Apollo Education Group, Inc. Class A 149,774 4,292,523 0.1% # Arctic Cat, Inc. 12,176 409,844 0.0% Ark Restaurants Corp. 2,510 55,320 0.0% #* Asbury Automotive Group, Inc. 42,405 2,970,046 0.0% * Ascena Retail Group, Inc. 165,300 2,057,985 0.0% #* Ascent Capital Group, Inc. Class A 14,541 934,986 0.0% # Autoliv, Inc. 73,971 6,786,100 0.1% #* AutoNation, Inc. 89,331 5,115,093 0.1% * AutoZone, Inc. 14,151 7,832,862 0.1% * Ballantyne Strong, Inc. 10,077 45,246 0.0% * Bally Technologies, Inc. 27,844 2,238,658 0.0% * Barnes & Noble, Inc. 80,161 1,749,113 0.0% Bassett Furniture Industries, Inc. 7,766 134,973 0.0% Beasley Broadcasting Group, Inc. Class A 3,374 15,858 0.0% #* Beazer Homes USA, Inc. 11,219 201,157 0.0% # bebe stores, Inc. 79,073 181,077 0.0% #* Bed Bath & Beyond, Inc. 182,462 12,286,991 0.1% * Belmond, Ltd. Class A 83,221 953,713 0.0% Best Buy Co., Inc. 371,314 12,676,660 0.1% # Big 5 Sporting Goods Corp. 22,121 272,310 0.0% Big Lots, Inc. 70,747 3,229,601 0.0% * Biglari Holdings, Inc. 1,857 648,390 0.0% #* BJ's Restaurants, Inc. 36,363 1,600,699 0.0% * Bloomin' Brands, Inc. 68,448 1,294,352 0.0% #* Blue Nile, Inc. 7,692 273,066 0.0% # Blyth, Inc. 11,136 93,431 0.0% # Bob Evans Farms, Inc. 26,941 1,316,068 0.0% # Bon-Ton Stores, Inc. (The) 13,310 117,261 0.0% * Books-A-Million, Inc. 9,373 13,591 0.0% BorgWarner, Inc. 137,621 7,847,149 0.1% # Bowl America, Inc. Class A 1,576 22,852 0.0% #* Boyd Gaming Corp. 47,548 549,179 0.0% #* Bravo Brio Restaurant Group, Inc. 19,393 268,981 0.0% #* Bridgepoint Education, Inc. 44,168 558,284 0.0% * Bright Horizons Family Solutions, Inc. 1,460 65,058 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) Brinker International, Inc. 69,872 $ 3,747,934 0.0% Brown Shoe Co., Inc. 53,020 1,409,802 0.0% # Brunswick Corp. 69,754 3,264,487 0.0% # Buckle, Inc. (The) 23,083 1,138,684 0.0% #* Buffalo Wild Wings, Inc. 20,515 3,062,479 0.0% #* Build-A-Bear Workshop, Inc. 16,366 277,404 0.0% # Burger King Worldwide, Inc. 34,853 1,138,996 0.0% #* Cabela's, Inc. 53,932 2,589,815 0.0% # Cablevision Systems Corp. Class A 210,009 3,910,368 0.0% #* Caesars Entertainment Corp. 32,995 402,209 0.0% # Callaway Golf Co. 105,401 826,344 0.0% * Cambium Learning Group, Inc. 45,231 69,203 0.0% * Canterbury Park Holding Corp. 2,402 22,939 0.0% Capella Education Co. 15,312 1,083,171 0.0% #* Career Education Corp. 76,593 444,239 0.0% #* CarMax, Inc. 131,688 7,362,676 0.1% * Carmike Cinemas, Inc. 24,290 778,495 0.0% Carnival Corp. 132,473 5,318,791 0.1% # Carriage Services, Inc. 13,976 278,961 0.0% #* Carrols Restaurant Group, Inc. 28,600 220,506 0.0% Carter's, Inc. 56,914 4,446,691 0.1% # Cato Corp. (The) Class A 33,019 1,177,788 0.0% #* Cavco Industries, Inc. 9,063 660,421 0.0% CBS Corp. Class A 9,684 525,744 0.0% CBS Corp. Class B 180,765 9,801,078 0.1% #* Central European Media Enterprises, Ltd. Class A 30,475 74,054 0.0% #* Charles & Colvard, Ltd. 17,475 50,852 0.0% * Charter Communications, Inc. Class A 68,962 10,922,891 0.1% # Cheesecake Factory, Inc. (The) 87,690 4,028,479 0.0% Cherokee, Inc. 3,363 58,785 0.0% # Chico's FAS, Inc. 162,936 2,457,075 0.0% # Children's Place, Inc. (The) 28,532 1,405,201 0.0% * Chipotle Mexican Grill, Inc. 11,700 7,464,600 0.1% # Choice Hotels International, Inc. 55,731 2,981,609 0.0% * Christopher & Banks Corp. 31,369 204,840 0.0% Churchill Downs, Inc. 18,070 1,842,779 0.0% #* Chuy's Holdings, Inc. 4,471 133,728 0.0% #* Cinedigm Corp. 52,434 81,273 0.0% Cinemark Holdings, Inc. 117,434 4,147,769 0.1% * Citi Trends, Inc. 20,814 471,437 0.0% Clear Channel Outdoor Holdings, Inc. Class A 33,565 243,682 0.0% # Coach, Inc. 162,767 5,595,929 0.1% #* Coast Distribution System, Inc. (The) 890 2,755 0.0% Collectors Universe, Inc. 3,602 88,609 0.0% # Columbia Sportswear Co. 62,054 2,391,561 0.0% Comcast Corp. Class A 974,084 53,915,549 0.5% Comcast Corp. Special Class A 205,243 11,317,099 0.1% #* Conn's, Inc. 29,186 907,976 0.0% Cooper Tire & Rubber Co. 85,330 2,748,479 0.0% Core-Mark Holding Co., Inc. 24,702 1,433,457 0.0% # Cracker Barrel Old Country Store, Inc. 38,809 4,476,618 0.1% * Crocs, Inc. 96,113 1,122,600 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) #* Crown Media Holdings, Inc. Class A 16,884 $ 58,925 0.0% # CSS Industries, Inc. 2,658 75,912 0.0% CST Brands, Inc. 112,625 4,307,906 0.1% # Culp, Inc. 10,739 203,719 0.0% #* Cumulus Media, Inc. Class A 66,466 256,559 0.0% # Dana Holding Corp. 224,811 4,599,633 0.1% # Darden Restaurants, Inc. 100,706 5,214,557 0.1% #* Deckers Outdoor Corp. 32,388 2,832,654 0.0% #* Del Frisco's Restaurant Group, Inc. 17,198 399,338 0.0% Delphi Automotive P.L.C. 131,466 9,068,525 0.1% #* Delta Apparel, Inc. 6,441 67,631 0.0% # Destination Maternity Corp. 10,940 163,881 0.0% #* Destination XL Group, Inc. 50,786 266,119 0.0% DeVry Education Group, Inc. 73,084 3,537,996 0.0% * DGSE Cos., Inc. 3,733 4,293 0.0% Dick's Sporting Goods, Inc. 37,524 1,702,464 0.0% # Dillard's, Inc. Class A 52,284 5,529,556 0.1% DineEquity, Inc. 25,632 2,280,223 0.0% * DIRECTV 130,949 11,365,064 0.1% * Discovery Communications, Inc. 82,372 2,882,196 0.0% #* Discovery Communications, Inc. Class A 36,788 1,300,456 0.0% * Discovery Communications, Inc. Class B 1,400 52,836 0.0% * DISH Network Corp. Class A 101,422 6,455,510 0.1% #* Dixie Group, Inc. (The) 4,689 36,949 0.0% * Dollar General Corp. 201,729 12,642,356 0.1% * Dollar Tree, Inc. 125,625 7,609,106 0.1% Domino's Pizza, Inc. 54,155 4,808,422 0.1% #* Dorman Products, Inc. 42,380 1,964,737 0.0% Dover Motorsports, Inc. 3,182 7,589 0.0% DR Horton, Inc. 191,010 4,353,118 0.1% #* DreamWorks Animation SKG, Inc. Class A 78,702 1,753,481 0.0% Drew Industries, Inc. 27,431 1,318,334 0.0% DSW, Inc. Class A 75,669 2,243,586 0.0% # Dunkin' Brands Group, Inc. 171,011 7,777,580 0.1% #* Education Management Corp. 52,147 31,033 0.0% Educational Development Corp. 1,932 8,443 0.0% Einstein Noah Restaurant Group, Inc. 23,412 474,093 0.0% * Eldorado Resorts, Inc. 11,682 48,130 0.0% # Emerson Radio Corp. 14,810 16,883 0.0% #* Entercom Communications Corp. Class A 23,008 236,522 0.0% # Entravision Communications Corp. Class A 44,114 227,628 0.0% # Escalade, Inc. 9,623 110,087 0.0% # Ethan Allen Interiors, Inc. 31,868 901,864 0.0% #* EW Scripps Co. (The) Class A 41,271 792,403 0.0% Expedia, Inc. 69,202 5,880,094 0.1% * Express, Inc. 67,193 1,005,879 0.0% Family Dollar Stores, Inc. 40,299 3,155,009 0.0% #* Famous Dave's Of America, Inc. 4,605 120,052 0.0% #* Federal-Mogul Holdings Corp. 87,011 1,358,242 0.0% #* Fiesta Restaurant Group, Inc. 21,112 1,164,327 0.0% Finish Line, Inc. (The) Class A 57,792 1,529,754 0.0% #* Five Below, Inc. 35,603 1,419,492 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) * Flanigan's Enterprises, Inc. 300 $ 6,000 0.0% # Flexsteel Industries, Inc. 3,267 112,091 0.0% Foot Locker, Inc. 158,387 8,871,256 0.1% Ford Motor Co. 1,798,217 25,336,878 0.2% #* Fossil Group, Inc. 72,790 7,399,831 0.1% # Fred's, Inc. Class A 30,384 477,029 0.0% Frisch's Restaurants, Inc. 2,853 73,265 0.0% #* FTD Cos., Inc. 21,021 739,519 0.0% #* Fuel Systems Solutions, Inc. 18,605 171,724 0.0% #* Full House Resorts, Inc. 8,200 10,578 0.0% #* G-III Apparel Group, Ltd. 26,171 2,076,669 0.0% * Gaiam, Inc. Class A 8,701 65,867 0.0% # GameStop Corp. Class A 151,379 6,472,966 0.1% #* Gaming Partners International Corp. 4,515 37,881 0.0% Gannett Co., Inc. 207,876 6,548,094 0.1% Gap, Inc. (The) 247,999 9,396,682 0.1% # Garmin, Ltd. 89,364 4,957,915 0.1% #* Geeknet, Inc. 3,235 31,347 0.0% General Motors Co. 545,884 17,140,758 0.2% #* Genesco, Inc. 27,129 2,080,523 0.0% # Gentex Corp. 140,309 4,593,717 0.1% #* Gentherm, Inc. 38,677 1,612,831 0.0% Genuine Parts Co. 75,973 7,375,459 0.1% GNC Holdings, Inc. Class A 103,249 4,292,061 0.1% Goodyear Tire & Rubber Co. (The) 176,393 4,274,002 0.1% #* Gordmans Stores, Inc. 9,185 28,933 0.0% Graham Holdings Co. Class B 6,535 5,120,826 0.1% * Grand Canyon Education, Inc. 57,864 2,771,686 0.0% #* Gray Television, Inc. 63,627 587,913 0.0% * Gray Television, Inc. Class A 600 4,440 0.0% # Group 1 Automotive, Inc. 34,543 2,951,008 0.0% #* Groupon, Inc. 228,087 1,667,316 0.0% # Guess?, Inc. 89,660 1,987,762 0.0% H&R Block, Inc. 172,262 5,565,785 0.1% #* Hampshire Group, Ltd. 689 1,674 0.0% Hanesbrands, Inc. 68,346 7,218,021 0.1% Harley-Davidson, Inc. 131,734 8,654,924 0.1% Harman International Industries, Inc. 35,262 3,785,023 0.0% # Harte-Hanks, Inc. 58,735 382,365 0.0% # Hasbro, Inc. 65,097 3,745,030 0.0% # Haverty Furniture Cos., Inc. 21,658 476,693 0.0% Haverty Furniture Cos., Inc. Class A 1,608 35,344 0.0% * Helen of Troy, Ltd. 32,270 1,995,900 0.0% #* hhgregg, Inc. 27,171 140,746 0.0% #* Hibbett Sports, Inc. 20,630 936,396 0.0% * Hollywood Media Corp. 3,425 3,802 0.0% Home Depot, Inc. (The) 626,547 61,100,863 0.6% Hooker Furniture Corp. 9,849 150,591 0.0% * Hovnanian Enterprises, Inc. Class A 11,285 42,432 0.0% HSN, Inc. 67,115 4,434,288 0.1% * Hyatt Hotels Corp. Class A 31,556 1,868,746 0.0% #* Iconix Brand Group, Inc. 60,513 2,421,125 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) International Game Technology 213,851 $ 3,505,018 0.0% # International Speedway Corp. Class A 32,818 1,028,188 0.0% Interpublic Group of Cos., Inc. (The) 278,143 5,393,193 0.1% Interval Leisure Group, Inc. 49,216 1,035,505 0.0% #* iRobot Corp. 22,770 813,344 0.0% * Isle of Capri Casinos, Inc. 36,343 270,028 0.0% #* ITT Educational Services, Inc. 8,984 90,828 0.0% Jack in the Box, Inc. 57,560 4,089,062 0.0% #* JAKKS Pacific, Inc. 12,915 82,398 0.0% #* Jamba, Inc. 12,584 167,996 0.0% * Jarden Corp. 49,450 3,218,701 0.0% #* JC Penney Co., Inc. 259,063 1,971,469 0.0% John Wiley & Sons, Inc. Class A 46,295 2,703,165 0.0% John Wiley & Sons, Inc. Class B 4,638 270,535 0.0% Johnson Controls, Inc. 311,700 14,727,825 0.1% Johnson Outdoors, Inc. Class A 8,183 245,899 0.0% #* Journal Communications, Inc. Class A 44,742 438,919 0.0% * K12, Inc. 43,605 540,702 0.0% #* Kate Spade & Co. 64,200 1,741,746 0.0% # KB Home 62,897 989,999 0.0% #* Kirkland's, Inc. 17,315 308,207 0.0% # Kohl's Corp. 270,655 14,674,914 0.1% * Kona Grill, Inc. 4,321 97,352 0.0% Koss Corp. 1,533 2,177 0.0% #* Krispy Kreme Doughnuts, Inc. 52,657 996,270 0.0% L Brands, Inc. 126,640 9,133,277 0.1% La-Z-Boy, Inc. 47,258 1,080,318 0.0% * Lakeland Industries, Inc. 3,968 55,949 0.0% # Lamar Advertising Co. Class A 98,178 5,070,894 0.1% #* Lands' End, Inc. 22,424 1,064,467 0.0% Las Vegas Sands Corp. 183,995 11,455,529 0.1% * Lazare Kaplan International, Inc. 1,600 2,592 0.0% * LeapFrog Enterprises, Inc. 50,254 267,351 0.0% Lear Corp. 81,440 7,533,200 0.1% * Learning Tree International, Inc. 6,151 15,254 0.0% #* Lee Enterprises, Inc. 20,446 76,264 0.0% # Leggett & Platt, Inc. 116,283 4,579,225 0.1% # Lennar Corp. Class A 84,602 3,644,654 0.0% Lennar Corp. Class B 17,482 613,793 0.0% #* Libbey, Inc. 46,264 1,330,090 0.0% #* Liberty Global P.L.C. Class A 51,144 2,325,518 0.0% * Liberty Global P.L.C. Class B 488 22,507 0.0% #* Liberty Global P.L.C. Class C 275,623 12,256,955 0.1% * Liberty Interactive Corp. Class A 360,336 9,419,183 0.1% * Liberty Interactive Corp. Class B 6,948 184,018 0.0% * Liberty Media Corp. 116,561 5,586,769 0.1% * Liberty Media Corp. Class A 56,016 2,689,888 0.0% * Liberty Media Corp. Class B 2,392 112,017 0.0% * Liberty TripAdvisor Holdings, Inc. Class A 71,392 2,254,559 0.0% * Liberty TripAdvisor Holdings, Inc. Class B 694 23,929 0.0% * Liberty Ventures Series A 130,872 4,593,607 0.1% * Liberty Ventures Series B 1,681 58,305 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) * Life Time Fitness, Inc. 47,155 $ 2,629,834 0.0% # Lifetime Brands, Inc. 10,549 180,493 0.0% * LIN Media LLC Class A 15,624 373,882 0.0% # Lincoln Educational Services Corp. 13,802 36,575 0.0% # Lions Gate Entertainment Corp. 86,434 2,863,558 0.0% Lithia Motors, Inc. Class A 28,734 2,230,333 0.0% * Live Nation Entertainment, Inc. 205,595 5,345,470 0.1% #* LKQ Corp. 182,344 5,209,568 0.1% * Loral Space & Communications, Inc. 14,301 1,094,027 0.0% Lowe's Cos., Inc. 444,868 25,446,450 0.2% * Luby's, Inc. 19,164 95,628 0.0% #* Lululemon Athletica, Inc. 42,819 1,783,411 0.0% #* Lumber Liquidators Holdings, Inc. 22,193 1,193,318 0.0% #* M/I Homes, Inc. 27,743 597,584 0.0% Macy's, Inc. 186,926 10,808,061 0.1% * Madison Square Garden Co. (The) Class A 66,509 5,038,722 0.1% Marcus Corp. (The) 15,379 263,442 0.0% # Marine Products Corp. 20,779 175,375 0.0% #* MarineMax, Inc. 28,118 539,022 0.0% # Marriott International, Inc. Class A 110,070 8,337,803 0.1% Marriott Vacations Worldwide Corp. 30,308 2,104,588 0.0% #* Martha Stewart Living Omnimedia, Inc. Class A 35,026 151,663 0.0% Mattel, Inc. 189,477 5,887,050 0.1% #* Mattress Firm Holding Corp. 1,120 70,773 0.0% * McClatchy Co. (The) Class A 65,819 234,316 0.0% McDonald's Corp. 454,169 42,569,260 0.4% # MDC Holdings, Inc. 72,586 1,772,550 0.0% #* Media General, Inc. Class A 15,715 234,782 0.0% # Men's Wearhouse, Inc. (The) 49,217 2,314,676 0.0% # Meredith Corp. 44,642 2,327,634 0.0% #* Meritage Homes Corp. 49,741 1,829,971 0.0% * MGM Resorts International 446,138 10,372,709 0.1% #* Michael Kors Holdings, Ltd. 110,607 8,692,604 0.1% * Modine Manufacturing Co. 62,502 801,901 0.0% * Mohawk Industries, Inc. 54,493 7,740,186 0.1% * Monarch Casino & Resort, Inc. 15,093 245,563 0.0% # Monro Muffler Brake, Inc. 31,702 1,694,155 0.0% # Morningstar, Inc. 37,240 2,541,630 0.0% #* Motorcar Parts of America, Inc. 19,694 571,914 0.0% Movado Group, Inc. 19,211 678,148 0.0% * Multimedia Games Holding Co., Inc. 8,600 300,140 0.0% * Murphy USA, Inc. 47,458 2,719,343 0.0% # NACCO Industries, Inc. Class A 6,764 396,167 0.0% #* Nathan's Famous, Inc. 2,974 213,771 0.0% # National CineMedia, Inc. 58,447 929,307 0.0% #* Nautilus, Inc. 33,867 453,140 0.0% * Netflix, Inc. 14,737 5,788,252 0.1% #* Nevada Gold & Casinos, Inc. 700 833 0.0% * New York & Co., Inc. 53,002 173,317 0.0% # New York Times Co. (The) Class A 131,448 1,687,792 0.0% Newell Rubbermaid, Inc. 142,092 4,735,926 0.1% * News Corp. Class A 169,493 2,623,752 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) * News Corp. Class B 76,093 $ 1,145,200 0.0% # Nexstar Broadcasting Group, Inc. Class A 33,780 1,524,154 0.0% NIKE, Inc. Class B 262,825 24,434,840 0.2% * Nobility Homes, Inc. 1,105 12,127 0.0% Nordstrom, Inc. 121,611 8,830,175 0.1% * Norwegian Cruise Line Holdings, Ltd. 75,141 2,930,499 0.0% # Nutrisystem, Inc. 27,971 471,032 0.0% * NVR, Inc. 3,414 4,190,958 0.1% * O'Reilly Automotive, Inc. 69,214 12,173,358 0.1% #* Office Depot, Inc. 725,686 3,788,081 0.0% Omnicom Group, Inc. 139,308 10,010,673 0.1% * Orbitz Worldwide, Inc. 122,437 1,012,554 0.0% #* Outerwall, Inc. 20,260 1,281,850 0.0% #* Overstock.com, Inc. 9,836 227,408 0.0% # Oxford Industries, Inc. 15,589 954,826 0.0% #* P&F Industries, Inc. Class A 504 4,027 0.0% #* Pacific Sunwear of California, Inc. 44,547 67,711 0.0% #* Panera Bread Co. Class A 23,917 3,865,944 0.0% # Papa John's International, Inc. 40,617 1,899,251 0.0% #* Penn National Gaming, Inc. 105,198 1,377,042 0.0% Penske Automotive Group, Inc. 97,482 4,410,086 0.1% #* Pep Boys-Manny, Moe & Jack (The) 47,946 456,925 0.0% * Perfumania Holdings, Inc. 2,203 13,548 0.0% #* Perry Ellis International, Inc. 13,637 278,877 0.0% # PetMed Express, Inc. 14,214 187,767 0.0% # PetSmart, Inc. 55,361 4,005,368 0.0% Pier 1 Imports, Inc. 82,564 1,065,076 0.0% #* Pinnacle Entertainment, Inc. 36,695 940,493 0.0% Polaris Industries, Inc. 42,836 6,462,239 0.1% Pool Corp. 44,521 2,657,904 0.0% * Popeyes Louisiana Kitchen, Inc. 23,486 1,088,576 0.0% * Premier Exhibitions, Inc. 8,500 6,715 0.0% * Priceline Group, Inc. (The) 19,967 24,084,395 0.2% PulteGroup, Inc. 204,214 3,918,867 0.0% PVH Corp. 38,777 4,434,150 0.1% * QEP Co., Inc. 352 6,176 0.0% #* Quiksilver, Inc. 164,480 287,840 0.0% #* Radio One, Inc. Class D 16,485 41,048 0.0% #* RadioShack Corp. 72,896 67,064 0.0% Ralph Lauren Corp. 34,347 5,661,759 0.1% * RCI Hospitality Holdings, Inc. 7,842 93,320 0.0% #* Reading International, Inc. Class A 5,859 58,414 0.0% #* Red Lion Hotels Corp. 13,744 77,928 0.0% * Red Robin Gourmet Burgers, Inc. 17,778 977,257 0.0% # Regal Entertainment Group Class A 125,130 2,771,630 0.0% Regis Corp. 51,358 872,059 0.0% # Rent-A-Center, Inc. 57,294 1,774,395 0.0% #* Rentrak Corp. 4,450 342,072 0.0% #* Restoration Hardware Holdings, Inc. 17,003 1,365,681 0.0% Rocky Brands, Inc. 5,087 66,843 0.0% Ross Stores, Inc. 135,898 10,969,687 0.1% Royal Caribbean Cruises, Ltd. 174,781 11,879,865 0.1% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) #* Ruby Tuesday, Inc. 54,383 $ 417,661 0.0% Ruth's Hospitality Group, Inc. 47,368 576,469 0.0% # Ryland Group, Inc. (The) 39,522 1,415,283 0.0% # Saga Communications, Inc. Class A 1,544 61,914 0.0% # Salem Communications Corp. Class A 12,181 93,916 0.0% * Sally Beauty Holdings, Inc. 139,675 4,093,874 0.1% # Scholastic Corp. 19,372 674,339 0.0% #* Scientific Games Corp. Class A 76,458 899,911 0.0% # Scripps Networks Interactive, Inc. Class A 67,492 5,213,082 0.1% #* Sears Holdings Corp. 74,551 2,603,321 0.0% # SeaWorld Entertainment, Inc. 7,940 152,766 0.0% #* Select Comfort Corp. 70,344 1,807,137 0.0% Service Corp. International 234,622 5,131,183 0.1% #* Shiloh Industries, Inc. 17,372 296,019 0.0% # Shoe Carnival, Inc. 19,687 362,241 0.0% * Shutterfly, Inc. 30,034 1,256,322 0.0% Signet Jewelers, Ltd. 64,223 7,707,402 0.1% # Sinclair Broadcast Group, Inc. Class A 104,547 3,037,090 0.0% #* Sirius XM Holdings, Inc. 1,257,082 4,311,791 0.1% # Six Flags Entertainment Corp. 86,917 3,502,755 0.0% #* Sizmek, Inc. 27,927 160,022 0.0% #* Skechers U.S.A., Inc. Class A 36,498 1,998,266 0.0% #* Skullcandy, Inc. 20,041 167,142 0.0% #* Skyline Corp. 4,311 15,778 0.0% #* Smith & Wesson Holding Corp. 8,213 83,444 0.0% # Sonic Automotive, Inc. Class A 53,620 1,334,602 0.0% #* Sonic Corp. 62,894 1,585,558 0.0% # Sotheby's 51,400 2,038,524 0.0% * Spanish Broadcasting System, Inc. Class A 1,868 7,528 0.0% Spartan Motors, Inc. 27,734 157,806 0.0% # Speedway Motorsports, Inc. 32,195 630,056 0.0% # Stage Stores, Inc. 48,945 825,702 0.0% # Standard Motor Products, Inc. 26,939 1,064,629 0.0% #* Standard Pacific Corp. 188,780 1,396,972 0.0% * Stanley Furniture Co., Inc. 8,749 25,372 0.0% # Staples, Inc. 486,764 6,172,168 0.1% Starbucks Corp. 342,958 25,913,906 0.3% Starwood Hotels & Resorts Worldwide, Inc. 78,916 6,049,701 0.1% #* Starz 100,881 3,117,223 0.0% * Starz Class B 2,392 73,805 0.0% # Stein Mart, Inc. 36,882 493,481 0.0% * Steiner Leisure, Ltd. 13,905 586,513 0.0% #* Steven Madden, Ltd. 79,348 2,487,560 0.0% #* Stoneridge, Inc. 29,966 389,258 0.0% # Strattec Security Corp. 2,038 211,381 0.0% * Strayer Education, Inc. 10,835 793,014 0.0% # Sturm Ruger & Co., Inc. 9,700 404,296 0.0% # Superior Industries International, Inc. 21,344 416,421 0.0% Superior Uniform Group, Inc. 5,000 120,000 0.0% Sypris Solutions, Inc. 12,624 43,048 0.0% #* Systemax, Inc. 27,440 419,832 0.0% Tandy Leather Factory, Inc. 1,146 10,589 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) Target Corp. 275,412 $ 17,025,970 0.2% * Taylor Morrison Home Corp. Class A 15,143 261,065 0.0% * Tempur Sealy International, Inc. 54,269 2,856,720 0.0% * Tenneco, Inc. 55,681 2,915,457 0.0% #* Tesla Motors, Inc. 35,679 8,623,614 0.1% # Texas Roadhouse, Inc. 88,668 2,559,845 0.0% Thor Industries, Inc. 62,883 3,325,882 0.0% # Tiffany & Co. 48,874 4,697,769 0.1% Time Warner Cable, Inc. 96,502 14,206,059 0.1% Time Warner, Inc. 318,327 25,297,447 0.2% * Time, Inc. 39,790 898,856 0.0% TJX Cos., Inc. (The) 326,440 20,670,181 0.2% * Toll Brothers, Inc. 132,025 4,218,199 0.1% * Tower International, Inc. 24,589 597,513 0.0% # Town Sports International Holdings, Inc. 17,552 103,908 0.0% # Tractor Supply Co. 80,004 5,857,893 0.1% # Trans World Entertainment Corp. 200 660 0.0% * TripAdvisor, Inc. 64,105 5,683,549 0.1% * TRW Automotive Holdings Corp. 119,251 12,086,089 0.1% #* Tuesday Morning Corp. 27,700 564,803 0.0% #* Tumi Holdings, Inc. 10,067 209,092 0.0% # Tupperware Brands Corp. 44,341 2,826,739 0.0% Twenty-First Century Fox, Inc. Class A 450,943 15,548,515 0.2% Twenty-First Century Fox, Inc. Class B 150,046 4,977,026 0.1% * Ulta Salon Cosmetics & Fragrance, Inc. 31,323 3,784,132 0.0% #* Under Armour, Inc. Class A 65,717 4,309,721 0.1% #* Unifi, Inc. 15,429 431,549 0.0% * Universal Electronics, Inc. 18,256 1,038,584 0.0% # Universal Technical Institute, Inc. 16,908 201,374 0.0% #* UQM Technologies, Inc. 12,948 14,372 0.0% #* Urban Outfitters, Inc. 164,565 4,996,193 0.1% * US Auto Parts Network, Inc. 14,602 39,425 0.0% Vail Resorts, Inc. 42,184 3,643,010 0.0% Value Line, Inc. 2,920 46,574 0.0% #* Valuevision Media, Inc. Class A 36,640 207,382 0.0% VF Corp. 121,308 8,210,125 0.1% Viacom, Inc. Class A 7,238 528,808 0.0% Viacom, Inc. Class B 158,809 11,542,238 0.1% * Visteon Corp. 59,796 5,614,844 0.1% #* Vitamin Shoppe, Inc. 26,471 1,242,284 0.0% #* VOXX International Corp. 20,275 172,946 0.0% Walt Disney Co. (The) 510,608 46,659,359 0.4% # Weight Watchers International, Inc. 38,632 1,006,364 0.0% # Wendy's Co. (The) 476,252 3,819,541 0.0% #* West Marine, Inc. 17,350 170,724 0.0% # Weyco Group, Inc. 6,018 187,461 0.0% Whirlpool Corp. 83,597 14,382,864 0.1% #* William Lyon Homes Class A 871 20,608 0.0% # Williams-Sonoma, Inc. 99,711 6,484,206 0.1% # Winmark Corp. 2,493 205,124 0.0% #* Winnebago Industries, Inc. 39,670 841,401 0.0% # Wolverine World Wide, Inc. 101,445 2,753,217 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) # World Wrestling Entertainment, Inc. Class A 25,048 $ 309,343 0.0% Wyndham Worldwide Corp. 114,420 8,887,001 0.1% # Wynn Resorts, Ltd. 31,740 6,030,917 0.1% Yum! Brands, Inc. 202,816 14,568,273 0.1% #* Zagg, Inc. 23,820 160,070 0.0% #* Zumiez, Inc. 37,672 1,257,491 0.0% -------------------- ------------------ Total Consumer Discretionary 1,597,450,809 14.8% -------------------- ------------------ Consumer Staples -- (6.8%) # Alico, Inc. 5,837 215,385 0.0% * Alliance One International, Inc. 82,516 167,507 0.0% Altria Group, Inc. 906,345 43,812,717 0.4% Andersons, Inc. (The) 30,261 1,928,534 0.0% Archer-Daniels-Midland Co. 222,257 10,446,079 0.1% # Avon Products, Inc. 150,757 1,567,873 0.0% # B&G Foods, Inc. 67,529 1,989,404 0.0% #* Boston Beer Co., Inc. (The) Class A 7,877 1,961,373 0.0% #* Boulder Brands, Inc. 52,929 470,010 0.0% * Bridgford Foods Corp. 2,501 20,996 0.0% Brown-Forman Corp. Class A 18,798 1,708,550 0.0% Brown-Forman Corp. Class B 55,147 5,110,472 0.1% Bunge, Ltd. 76,191 6,754,332 0.1% # Cal-Maine Foods, Inc. 25,969 2,279,819 0.0% # Calavo Growers, Inc. 13,837 671,648 0.0% # Campbell Soup Co. 193,316 8,538,768 0.1% # Casey's General Stores, Inc. 42,937 3,515,252 0.0% * CCA Industries, Inc. 3,400 11,560 0.0% * Central Garden and Pet Co. 11,250 89,775 0.0% #* Central Garden and Pet Co. Class A 44,622 383,303 0.0% #* Chefs' Warehouse, Inc. (The) 6,220 111,151 0.0% * Chiquita Brands International, Inc. 47,834 690,245 0.0% Church & Dwight Co., Inc. 76,639 5,549,430 0.1% # Clorox Co. (The) 80,859 8,045,471 0.1% # Coca-Cola Bottling Co. Consolidated 7,175 648,907 0.0% Coca-Cola Co. (The) 1,535,652 64,313,106 0.6% Coca-Cola Enterprises, Inc. 226,430 9,815,740 0.1% #* Coffee Holding Co., Inc. 300 1,716 0.0% Colgate-Palmolive Co. 404,597 27,059,447 0.3% ConAgra Foods, Inc. 252,878 8,686,359 0.1% * Constellation Brands, Inc. Class A 131,237 12,013,435 0.1% * Constellation Brands, Inc. Class B 3,160 288,634 0.0% Costco Wholesale Corp. 170,573 22,749,321 0.2% #* Craft Brew Alliance, Inc. 13,966 193,848 0.0% #* Crimson Wine Group, Ltd. 15,327 139,476 0.0% CVS Health Corp. 420,555 36,087,825 0.3% * Darling International, Inc. 136,589 2,403,966 0.0% # Dean Foods Co. 104,150 1,532,047 0.0% #* Diamond Foods, Inc. 17,765 535,615 0.0% Dr Pepper Snapple Group, Inc. 111,211 7,701,362 0.1% Energizer Holdings, Inc. 47,755 5,857,151 0.1% Estee Lauder Cos., Inc. (The) Class A 106,305 7,992,010 0.1% #* Farmer Bros. Co. 14,048 409,640 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Staples -- (Continued) # Flowers Foods, Inc. 172,915 $ 3,285,385 0.0% # Fresh Del Monte Produce, Inc. 65,121 2,091,035 0.0% #* Fresh Market, Inc. (The) 19,067 699,950 0.0% General Mills, Inc. 228,958 11,896,658 0.1% Golden Enterprises, Inc. 3,860 17,254 0.0% * Hain Celestial Group, Inc. (The) 36,126 3,910,640 0.0% # Herbalife, Ltd. 59,513 3,122,052 0.0% Hershey Co. (The) 49,169 4,715,799 0.1% Hormel Foods Corp. 104,785 5,648,959 0.1% * IGI Laboratories, Inc. 921 9,035 0.0% Ingles Markets, Inc. Class A 14,318 385,154 0.0% Ingredion, Inc. 81,708 6,311,943 0.1% Inter Parfums, Inc. 29,298 832,063 0.0% * Inventure Foods, Inc. 1,478 19,569 0.0% J&J Snack Foods Corp. 15,585 1,605,723 0.0% JM Smucker Co. (The) 79,826 8,301,904 0.1% # John B. Sanfilippo & Son, Inc. 5,956 221,265 0.0% Kellogg Co. 121,594 7,777,152 0.1% # Keurig Green Mountain, Inc. 47,520 7,211,160 0.1% Kimberly-Clark Corp. 173,420 19,816,703 0.2% Kraft Foods Group, Inc. 271,497 15,298,856 0.2% Kroger Co. (The) 211,883 11,804,002 0.1% # Lancaster Colony Corp. 32,504 2,973,791 0.0% #* Lifeway Foods, Inc. 3,699 61,218 0.0% Limoneira Co. 244 6,261 0.0% Lorillard, Inc. 99,950 6,146,925 0.1% * Mannatech, Inc. 740 10,782 0.0% McCormick & Co., Inc.(579780107) 3,498 245,909 0.0% # McCormick & Co., Inc.(579780206) 45,935 3,248,523 0.0% Mead Johnson Nutrition Co. 100,447 9,975,392 0.1% #* Medifast, Inc. 19,318 613,153 0.0% MGP Ingredients, Inc. 10,602 130,935 0.0% # Molson Coors Brewing Co. Class A 1,162 91,438 0.0% Molson Coors Brewing Co. Class B 116,616 8,673,898 0.1% Mondelez International, Inc. Class A 581,402 20,500,235 0.2% * Monster Beverage Corp. 107,227 10,817,060 0.1% #* National Beverage Corp. 20,329 510,664 0.0% * Natural Alternatives International, Inc. 2,740 16,796 0.0% Nature's Sunshine Products, Inc. 200 2,980 0.0% # Nu Skin Enterprises, Inc. Class A 29,862 1,577,609 0.0% #* Nutraceutical International Corp. 9,876 222,012 0.0% # Oil-Dri Corp. of America 4,211 127,088 0.0% * Omega Protein Corp. 28,649 413,978 0.0% # Orchids Paper Products Co. 3,281 94,362 0.0% * Pantry, Inc. (The) 34,594 891,487 0.0% PepsiCo, Inc. 703,432 67,649,055 0.6% Philip Morris International, Inc. 477,515 42,503,610 0.4% #* Pilgrim's Pride Corp. 135,481 3,849,015 0.0% Pinnacle Foods, Inc. 7,846 265,195 0.0% #* Post Holdings, Inc. 43,983 1,649,363 0.0% # Pricesmart, Inc. 22,790 2,028,994 0.0% * Primo Water Corp. 5,500 23,265 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Staples -- (Continued) Procter & Gamble Co. (The) 655,390 $ 57,195,885 0.5% Reliv International, Inc. 2,740 3,315 0.0% #* Revlon, Inc. Class A 31,659 1,085,904 0.0% Reynolds American, Inc. 142,019 8,934,415 0.1% * Rite Aid Corp. 755,659 3,967,210 0.0% Rocky Mountain Chocolate Factory, Inc. 3,966 47,949 0.0% Safeway, Inc. 213,913 7,457,007 0.1% # Sanderson Farms, Inc. 41,613 3,494,660 0.0% * Seaboard Corp. 540 1,659,350 0.0% #* Seneca Foods Corp. Class A 7,423 199,530 0.0% * Seneca Foods Corp. Class B 1,493 45,126 0.0% # Snyder's-Lance, Inc. 71,048 2,116,520 0.0% SpartanNash Co. 37,721 845,328 0.0% Spectrum Brands Holdings, Inc. 54,708 4,955,998 0.1% #* Sprouts Farmers Market, Inc. 27,469 799,623 0.0% * SUPERVALU, Inc. 281,009 2,425,108 0.0% Sysco Corp. 220,103 8,482,770 0.1% * Tofutti Brands, Inc. 456 2,275 0.0% # Tootsie Roll Industries, Inc. 25,812 765,326 0.0% #* TreeHouse Foods, Inc. 38,795 3,304,170 0.0% Tyson Foods, Inc. Class A 251,789 10,159,686 0.1% #* United Natural Foods, Inc. 44,672 3,038,589 0.0% United-Guardian, Inc. 1,741 36,317 0.0% # Universal Corp. 21,805 970,323 0.0% #* USANA Health Sciences, Inc. 9,599 1,094,094 0.0% # Vector Group, Ltd. 61,596 1,376,055 0.0% Village Super Market, Inc. Class A 4,375 121,406 0.0% Wal-Mart Stores, Inc. 707,960 53,996,109 0.5% Walgreen Co. 225,062 14,453,482 0.1% WD-40 Co. 15,220 1,166,917 0.0% # Weis Markets, Inc. 23,496 1,048,861 0.0% * WhiteWave Foods Co. (The) Class A 120,071 4,470,243 0.1% # Whole Foods Market, Inc. 110,858 4,360,045 0.1% -------------------- ------------------ Total Consumer Staples 818,852,109 7.6% -------------------- ------------------ Energy -- (8.4%) #* Abraxas Petroleum Corp. 3,201 13,220 0.0% Adams Resources & Energy, Inc. 3,234 135,990 0.0% # Alon USA Energy, Inc. 64,302 1,031,404 0.0% #* Alpha Natural Resources, Inc. 222,776 436,641 0.0% Anadarko Petroleum Corp. 279,307 25,634,796 0.2% Apache Corp. 163,110 12,592,092 0.1% #* Approach Resources, Inc. 32,109 317,879 0.0% # Arch Coal, Inc. 182,324 393,820 0.0% #* Athlon Energy, Inc. 29,432 1,715,886 0.0% #* Atwood Oceanics, Inc. 68,062 2,766,720 0.0% Baker Hughes, Inc. 160,344 8,491,818 0.1% * Barnwell Industries, Inc. 4,663 11,937 0.0% #* Basic Energy Services, Inc. 52,682 679,598 0.0% #* Bill Barrett Corp. 51,882 788,606 0.0% Bolt Technology Corp. 7,091 155,506 0.0% #* Bonanza Creek Energy, Inc. 66,703 3,017,644 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Energy -- (Continued) #* BPZ Resources, Inc. 97,710 $ 121,160 0.0% # Bristow Group, Inc. 33,119 2,447,494 0.0% #* C&J Energy Services, Inc. 64,696 1,249,280 0.0% Cabot Oil & Gas Corp. 293,494 9,127,663 0.1% #* Callon Petroleum Co. 68,079 446,598 0.0% * Cameron International Corp. 183,483 10,926,413 0.1% # CARBO Ceramics, Inc. 21,127 1,091,632 0.0% * Carrizo Oil & Gas, Inc. 64,461 3,348,104 0.0% * Cheniere Energy, Inc. 139,133 10,434,975 0.1% # Chesapeake Energy Corp. 705,955 15,658,082 0.2% Chevron Corp. 731,435 87,735,628 0.8% Cimarex Energy Co. 98,260 11,169,214 0.1% #* Clayton Williams Energy, Inc. 16,725 1,390,517 0.0% #* Clean Energy Fuels Corp. 54,100 395,471 0.0% #* Cloud Peak Energy, Inc. 70,350 842,090 0.0% * Cobalt International Energy, Inc. 123,680 1,448,293 0.0% # Comstock Resources, Inc. 44,876 531,332 0.0% * Concho Resources, Inc. 98,310 10,718,739 0.1% ConocoPhillips 562,318 40,571,244 0.4% CONSOL Energy, Inc. 119,326 4,391,197 0.1% #* Contango Oil & Gas Co. 18,297 669,121 0.0% #* Continental Resources, Inc. 39,458 2,224,247 0.0% # Core Laboratories NV 27,972 3,902,933 0.0% # CVR Energy, Inc. 28,721 1,395,266 0.0% # Dawson Geophysical Co. 8,468 143,871 0.0% Delek US Holdings, Inc. 74,336 2,519,247 0.0% # Denbury Resources, Inc. 341,290 4,231,996 0.0% Devon Energy Corp. 146,034 8,762,040 0.1% # DHT Holdings, Inc. 4,917 32,747 0.0% # Diamond Offshore Drilling, Inc. 111,452 4,202,855 0.0% * Diamondback Energy, Inc. 33,399 2,285,828 0.0% * Dresser-Rand Group, Inc. 71,667 5,855,194 0.1% * Dril-Quip, Inc. 32,784 2,948,921 0.0% #* Emerald Oil, Inc. 63,636 202,362 0.0% Energen Corp. 63,880 4,324,676 0.1% # Energy XXI Bermuda, Ltd. 98,756 759,434 0.0% * ENGlobal Corp. 13,200 17,292 0.0% EnLink Midstream LLC 55,175 2,091,133 0.0% EOG Resources, Inc. 365,806 34,769,860 0.3% EQT Corp. 58,848 5,534,066 0.1% * Era Group, Inc. 25,906 605,941 0.0% * Escalera Resources Co. 6,980 7,887 0.0% Evolution Petroleum Corp. 8,344 78,934 0.0% # Exterran Holdings, Inc. 77,446 3,045,951 0.0% Exxon Mobil Corp. 1,900,383 183,786,040 1.7% #* FieldPoint Petroleum Corp. 4,233 11,979 0.0% * FMC Technologies, Inc. 117,864 6,605,099 0.1% #* Forest Oil Corp. 21,506 17,420 0.0% * Forum Energy Technologies, Inc. 36,427 994,457 0.0% # GasLog, Ltd. 51,417 1,070,502 0.0% * Gastar Exploration, Inc. 88,544 354,176 0.0% #* Geospace Technologies Corp. 10,281 316,552 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Energy -- (Continued) #* Goodrich Petroleum Corp. 6,972 $ 57,449 0.0% * Green Brick Partners, Inc. 530 3,503 0.0% # Green Plains, Inc. 42,179 1,442,522 0.0% * Gulf Coast Ultra Deep Royalty Trust 122,555 196,088 0.0% Gulf Island Fabrication, Inc. 12,790 270,381 0.0% # Gulfmark Offshore, Inc. Class A 29,608 892,977 0.0% * Gulfport Energy Corp. 64,790 3,251,162 0.0% #* Halcon Resources Corp. 140,049 435,552 0.0% Halliburton Co. 325,091 17,925,518 0.2% * Harvest Natural Resources, Inc. 33,762 125,595 0.0% * Helix Energy Solutions Group, Inc. 135,544 3,610,892 0.0% Helmerich & Payne, Inc. 94,023 8,163,077 0.1% #* Hercules Offshore, Inc. 135,628 223,786 0.0% Hess Corp. 113,175 9,598,372 0.1% * HKN, Inc. 239 15,774 0.0% HollyFrontier Corp. 155,646 7,063,216 0.1% #* Hornbeck Offshore Services, Inc. 38,647 1,184,917 0.0% #* ION Geophysical Corp. 152,746 427,689 0.0% #* Key Energy Services, Inc. 180,687 549,289 0.0% Kinder Morgan, Inc. 435,127 16,839,415 0.2% * Kodiak Oil & Gas Corp. 385,344 4,157,862 0.0% * Kosmos Energy, Ltd. 187,797 1,752,146 0.0% #* Laredo Petroleum Holdings, Inc. 144,563 2,740,915 0.0% # LinnCo LLC 108,620 2,603,621 0.0% #* Lucas Energy, Inc. 428 154 0.0% #* Magnum Hunter Resources Corp. 75,006 348,028 0.0% Marathon Oil Corp. 367,288 13,001,995 0.1% Marathon Petroleum Corp. 148,587 13,506,558 0.1% #* Matador Resources Co. 70,168 1,702,977 0.0% * Matrix Service Co. 31,741 795,429 0.0% #* McDermott International, Inc. 205,264 788,214 0.0% * Mexco Energy Corp. 684 4,070 0.0% #* Miller Energy Resources, Inc. 1,630 5,672 0.0% * Mitcham Industries, Inc. 11,460 116,892 0.0% Murphy Oil Corp. 108,896 5,813,957 0.1% Nabors Industries, Ltd. 350,903 6,263,619 0.1% National Oilwell Varco, Inc. 160,701 11,673,321 0.1% #* Natural Gas Services Group, Inc. 11,371 292,576 0.0% * Newfield Exploration Co. 175,506 5,723,251 0.1% #* Newpark Resources, Inc. 105,948 1,210,986 0.0% # Noble Corp. P.L.C. 205,127 4,291,257 0.1% Noble Energy, Inc. 148,606 8,564,164 0.1% #* Nordic American Offshore, Ltd. 255 4,080 0.0% # Nordic American Tankers, Ltd. 29,510 249,360 0.0% #* Northern Oil and Gas, Inc. 74,420 840,946 0.0% #* Nuverra Environmental Solutions, Inc. 16,662 157,789 0.0% #* Oasis Petroleum, Inc. 136,548 4,090,978 0.0% Occidental Petroleum Corp. 424,457 37,746,961 0.4% Oceaneering International, Inc. 82,252 5,779,848 0.1% * Oil States International, Inc. 74,938 4,476,796 0.1% ONEOK, Inc. 127,633 7,522,689 0.1% #* Overseas Shipholding Group, Inc. 19,258 99,179 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Energy -- (Continued) # Panhandle Oil and Gas, Inc. Class A 16,654 $ 342,406 0.0% #* Paragon Offshore P.L.C. 68,375 332,986 0.0% #* Parker Drilling Co. 129,468 574,838 0.0% Patterson-UTI Energy, Inc. 185,277 4,266,929 0.1% # PBF Energy, Inc. Class A 80,812 2,106,769 0.0% * PDC Energy, Inc. 41,841 1,829,289 0.0% # Peabody Energy Corp. 236,569 2,467,415 0.0% #* Penn Virginia Corp. 95,262 816,395 0.0% #* PetroQuest Energy, Inc. 100,726 473,412 0.0% #* PHI, Inc. Non-Voting 10,655 476,705 0.0% * PHI, Inc. Voting 2,247 95,520 0.0% Phillips 66 154,529 12,130,527 0.1% * Pioneer Energy Services Corp. 54,296 498,437 0.0% Pioneer Natural Resources Co. 41,423 7,831,432 0.1% * PostRock Energy Corp. 1,437 1,035 0.0% QEP Resources, Inc. 224,471 5,627,488 0.1% # Range Resources Corp. 80,156 5,482,670 0.1% #* Renewable Energy Group, Inc. 23,025 242,453 0.0% #* REX American Resources Corp. 7,500 545,700 0.0% #* Rex Energy Corp. 63,446 497,417 0.0% #* RigNet, Inc. 10,885 472,953 0.0% #* Rosetta Resources, Inc. 81,505 3,099,635 0.0% Rowan Cos. P.L.C. Class A 128,142 3,110,006 0.0% #* Royale Energy, Inc. 400 1,048 0.0% RPC, Inc. 164,035 2,690,174 0.0% #* Sanchez Energy Corp. 2,262 38,612 0.0% #* SandRidge Energy, Inc. 662,821 2,585,002 0.0% Schlumberger, Ltd. 396,427 39,111,488 0.4% # Scorpio Tankers, Inc. 159,721 1,394,364 0.0% #* SEACOR Holdings, Inc. 24,795 2,044,348 0.0% SemGroup Corp. Class A 40,763 3,128,560 0.0% * Seventy Seven Energy, Inc. 38,522 503,483 0.0% # Ship Finance International, Ltd. 85,877 1,476,226 0.0% # SM Energy Co. 94,705 5,331,892 0.1% * Southwestern Energy Co. 460,704 14,977,487 0.1% Spectra Energy Corp. 206,997 8,099,793 0.1% * Steel Excel, Inc. 6,102 186,111 0.0% #* Stone Energy Corp. 68,909 1,688,271 0.0% Superior Energy Services, Inc. 170,693 4,292,929 0.1% #* Swift Energy Co. 31,634 216,693 0.0% #* Synergy Resources Corp. 60,386 736,105 0.0% #* Synthesis Energy Systems, Inc. 27,753 28,586 0.0% Targa Resources Corp. 37,821 4,864,915 0.1% # Teekay Corp. 95,903 5,606,489 0.1% # Tesco Corp. 52,121 992,384 0.0% Tesoro Corp. 105,723 7,549,679 0.1% #* TETRA Technologies, Inc. 97,678 930,871 0.0% * TGC Industries, Inc. 14,420 45,279 0.0% # Tidewater, Inc. 60,688 2,237,567 0.0% # Transocean, Ltd. 223,773 6,675,149 0.1% #* Triangle Petroleum Corp. 101,041 783,068 0.0% #* Ultra Petroleum Corp. 141,456 3,225,197 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Energy -- (Continued) * Unit Corp. 57,869 $ 2,802,017 0.0% #* Uranium Energy Corp. 21,851 25,129 0.0% #* Uranium Resources, Inc. 685 1,075 0.0% * Vaalco Energy, Inc. 86,201 639,611 0.0% Valero Energy Corp. 262,913 13,169,312 0.1% # W&T Offshore, Inc. 91,888 835,262 0.0% #* Warren Resources, Inc. 84,791 293,377 0.0% * Weatherford International P.L.C. 621,232 10,200,629 0.1% # Western Refining, Inc. 135,928 6,196,958 0.1% * Westmoreland Coal Co. 17,932 655,773 0.0% * Whiting Petroleum Corp. 122,067 7,475,383 0.1% #* Willbros Group, Inc. 54,889 322,198 0.0% Williams Cos., Inc. (The) 194,422 10,792,365 0.1% # World Fuel Services Corp. 69,160 2,852,158 0.0% * WPX Energy, Inc. 248,918 4,759,312 0.1% * Yuma Energy, Inc. 2,104 7,154 0.0% * Zion Oil & Gas, Inc. 10,543 18,345 0.0% -------------------- ------------------ Total Energy 1,010,410,419 9.4% -------------------- ------------------ Financials -- (13.3%) * 1st Constitution Bancorp 1,373 15,247 0.0% # 1st Source Corp. 24,618 770,297 0.0% 1st United Bancorp, Inc. 22,508 199,196 0.0% * A-Mark Precious Metals, Inc. 96 1,011 0.0% Access National Corp. 4,884 82,295 0.0% ACE, Ltd. 117,992 12,896,526 0.1% * Affiliated Managers Group, Inc. 24,024 4,799,755 0.1% Aflac, Inc. 170,449 10,180,919 0.1% Alexander & Baldwin, Inc. 57,599 2,305,688 0.0% * Alleghany Corp. 12,172 5,407,776 0.1% Alliance Bancorp, Inc. of Pennsylvania 1,546 25,494 0.0% Allied World Assurance Co. Holdings AG 107,031 4,067,178 0.0% Allstate Corp. (The) 165,705 10,745,969 0.1% #* Altisource Asset Management Corp. 909 490,860 0.0% #* Altisource Portfolio Solutions SA 18,312 1,367,174 0.0% #* Ambac Financial Group, Inc. 6,328 144,785 0.0% Ameriana Bancorp 456 7,725 0.0% # American Equity Investment Life Holding Co. 106,888 2,758,779 0.0% American Express Co. 440,616 39,633,409 0.4% American Financial Group, Inc. 92,794 5,551,865 0.1% * American Independence Corp. 371 4,077 0.0% American International Group, Inc. 465,303 24,926,282 0.2% # American National Bankshares, Inc. 3,768 91,186 0.0% American National Insurance Co. 19,731 2,250,912 0.0% * American River Bankshares 2,192 20,824 0.0% (Degree)* American Spectrum Realty, Inc. 642 1,079 0.0% Ameriprise Financial, Inc. 121,135 15,283,603 0.2% Ameris Bancorp 27,306 677,189 0.0% AMERISAFE, Inc. 20,861 869,904 0.0% AmeriServ Financial, Inc. 8,436 26,573 0.0% # Amtrust Financial Services, Inc. 77,833 3,492,367 0.0% Aon P.L.C. 84,747 7,288,242 0.1% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) * Arch Capital Group, Ltd. 100,258 $ 5,646,531 0.1% Argo Group International Holdings, Ltd. 26,125 1,457,775 0.0% # Arrow Financial Corp. 10,623 290,964 0.0% Arthur J Gallagher & Co. 69,673 3,323,402 0.0% # Artisan Partners Asset Management, Inc. Class A 11,270 546,370 0.0% Aspen Insurance Holdings, Ltd. 66,780 2,913,611 0.0% Associated Banc-Corp 200,873 3,776,412 0.0% Assurant, Inc. 79,526 5,425,264 0.1% Assured Guaranty, Ltd. 181,465 4,188,212 0.1% * Asta Funding, Inc. 9,299 78,391 0.0% # Astoria Financial Corp. 138,734 1,824,352 0.0% Atlantic American Corp. 2,737 10,565 0.0% #* Atlantic Coast Financial Corp. 945 3,893 0.0% * Atlanticus Holdings Corp. 14,132 19,785 0.0% # Auburn National Bancorporation, Inc. 335 7,862 0.0% #* AV Homes, Inc. 8,825 132,287 0.0% Axis Capital Holdings, Ltd. 110,926 5,339,978 0.1% Baldwin & Lyons, Inc. Class A 638 15,644 0.0% Baldwin & Lyons, Inc. Class B 8,934 240,503 0.0% # Banc of California, Inc. 9,411 110,767 0.0% # Bancfirst Corp. 14,457 939,705 0.0% #* Bancorp, Inc. 38,456 363,794 0.0% # BancorpSouth, Inc. 132,247 3,045,648 0.0% Bank Mutual Corp. 38,610 254,440 0.0% Bank of America Corp. 3,795,646 65,133,285 0.6% Bank of Commerce Holdings 6,357 38,460 0.0% # Bank of Hawaii Corp. 47,408 2,775,738 0.0% Bank of Kentucky Financial Corp (The) 2,404 112,772 0.0% Bank of New York Mellon Corp. (The) 389,922 15,097,780 0.2% # Bank of the Ozarks, Inc. 61,951 2,183,153 0.0% # BankFinancial Corp. 14,549 173,570 0.0% BankUnited, Inc. 105,382 3,150,922 0.0% Banner Corp. 25,047 1,082,531 0.0% # Bar Harbor Bankshares 3,463 100,773 0.0% BB&T Corp. 239,009 9,053,661 0.1% BBCN Bancorp, Inc. 116,348 1,645,161 0.0% #* BBX Capital Corp. Class A 1,011 18,602 0.0% BCB Bancorp, Inc. 4,090 52,720 0.0% * Bear State Financial, Inc. 2,243 20,120 0.0% * Beneficial Mutual Bancorp, Inc. 65,235 876,106 0.0% Berkshire Bancorp, Inc. 1,000 8,375 0.0% * Berkshire Hathaway, Inc. Class B 582,608 81,658,337 0.8% # Berkshire Hills Bancorp, Inc. 23,502 605,882 0.0% # BGC Partners, Inc. Class A 321,727 2,728,245 0.0% BlackRock, Inc. 45,438 15,499,356 0.2% # BNC Bancorp 160 2,722 0.0% #* BofI Holding, Inc. 16,943 1,304,950 0.0% # BOK Financial Corp. 60,241 4,130,123 0.0% # Boston Private Financial Holdings, Inc. 99,927 1,314,040 0.0% # Bridge Bancorp, Inc. 2,089 54,857 0.0% #* Bridge Capital Holdings 4,396 106,032 0.0% Brookline Bancorp, Inc. 89,484 858,152 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) Brown & Brown, Inc. 145,544 $ 4,637,032 0.1% * Brunswick Bancorp 40 192 0.0% Bryn Mawr Bank Corp. 12,604 388,581 0.0% C&F Financial Corp. 721 24,759 0.0% # Calamos Asset Management, Inc. Class A 19,363 265,273 0.0% California First National Bancorp 2,970 44,847 0.0% # Camden National Corp. 7,297 298,520 0.0% # Cape Bancorp, Inc. 4,558 40,612 0.0% #* Capital Bank Financial Corp. Class A 1,269 32,854 0.0% # Capital City Bank Group, Inc. 11,641 175,895 0.0% Capital One Financial Corp. 209,014 17,300,089 0.2% (Degree)* Capital Properties, Inc., 5.000% 540 535 0.0% * Capital Properties, Inc. Class A 600 7,302 0.0% # Capital Southwest Corp. 7,342 269,158 0.0% # Capitol Federal Financial, Inc. 171,263 2,193,879 0.0% # Cardinal Financial Corp. 35,411 679,891 0.0% * Carolina Bank Holdings, Inc. 900 8,514 0.0% #* Cascade Bancorp 19,485 99,568 0.0% # Cash America International, Inc. 37,212 1,828,970 0.0% # Cathay General Bancorp 110,573 2,920,233 0.0% # CBOE Holdings, Inc. 78,339 4,617,301 0.1% * CBRE Group, Inc. Class A 169,818 5,434,176 0.1% # Centerstate Banks, Inc. 24,936 290,255 0.0% # Central Pacific Financial Corp. 12,232 231,185 0.0% # Century Bancorp, Inc. Class A 1,596 60,616 0.0% Charles Schwab Corp. (The) 271,621 7,787,374 0.1% # Charter Financial Corp. 1,777 20,151 0.0% Chemical Financial Corp. 32,070 955,045 0.0% Chicopee Bancorp, Inc. 3,096 46,099 0.0% Chubb Corp. (The) 56,069 5,571,016 0.1% # Cincinnati Financial Corp. 110,304 5,567,043 0.1% CIT Group, Inc. 96,755 4,734,222 0.1% Citigroup, Inc. 1,092,668 58,490,518 0.6% # Citizens Community Bancorp, Inc. 1,650 14,685 0.0% Citizens Holding Co. 772 14,475 0.0% #* Citizens, Inc. 39,312 286,584 0.0% # City Holding Co. 15,405 693,071 0.0% # City National Corp. 54,479 4,288,042 0.1% CKX Lands, Inc. 743 11,895 0.0% # Clifton Bancorp, Inc. 19,842 258,343 0.0% CME Group, Inc. 111,791 9,369,204 0.1% CNA Financial Corp. 130,949 5,117,487 0.1% # CNB Financial Corp. 8,185 148,230 0.0% CNO Financial Group, Inc. 184,317 3,341,667 0.0% # CoBiz Financial, Inc. 38,778 466,112 0.0% Codorus Valley Bancorp, Inc. 1,762 38,092 0.0% # Cohen & Steers, Inc. 15,317 656,487 0.0% * Colonial Financial Services, Inc. 1,300 16,887 0.0% * Colony Bankcorp, Inc. 1,337 9,359 0.0% # Columbia Banking System, Inc. 63,733 1,770,503 0.0% # Comerica, Inc. 101,026 4,822,981 0.1% # Commerce Bancshares, Inc. 99,530 4,504,728 0.1% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) Commercial National Financial Corp. 847 $ 17,999 0.0% # Community Bank System, Inc. 50,381 1,922,035 0.0% * Community Bankers Trust Corp. 5,562 24,473 0.0% # Community Trust Bancorp, Inc. 17,297 621,827 0.0% Community West Bancshares 1,844 11,894 0.0% * CommunityOne Bancorp 1 11 0.0% ConnectOne Bancorp, Inc. 14,278 264,143 0.0% # Consolidated-Tomoka Land Co. 5,268 274,937 0.0% * Consumer Portfolio Services, Inc. 11,333 80,011 0.0% #* Cowen Group, Inc. Class A 121,371 490,339 0.0% Crawford & Co. Class A 18,114 159,765 0.0% # Crawford & Co. Class B 19,531 198,826 0.0% #* Credit Acceptance Corp. 18,436 2,720,416 0.0% # Cullen/Frost Bankers, Inc. 63,237 5,110,182 0.1% # CVB Financial Corp. 112,153 1,769,774 0.0% # Diamond Hill Investment Group, Inc. 1,277 171,105 0.0% # Dime Community Bancshares, Inc. 47,048 741,006 0.0% Discover Financial Services 174,371 11,121,382 0.1% # Donegal Group, Inc. Class A 18,939 299,615 0.0% Donegal Group, Inc. Class B 2,147 45,087 0.0% * Doral Financial Corp. 199 1,156 0.0% * E*TRADE Financial Corp. 228,350 5,092,205 0.1% Eagle Bancorp Montana, Inc. 566 6,056 0.0% East West Bancorp, Inc. 145,242 5,339,096 0.1% * Eastern Virginia Bankshares, Inc. 851 5,268 0.0% # Eaton Vance Corp. 97,702 3,598,365 0.0% #* eHealth, Inc. 11,143 278,018 0.0% # EMC Insurance Group, Inc. 10,245 328,250 0.0% Employers Holdings, Inc. 32,349 659,596 0.0% #* Encore Capital Group, Inc. 28,928 1,316,513 0.0% Endurance Specialty Holdings, Ltd. 61,954 3,590,234 0.0% #* Enstar Group, Ltd. 14,043 2,079,347 0.0% # Enterprise Bancorp, Inc. 3,680 86,590 0.0% Enterprise Financial Services Corp. 14,188 267,444 0.0% Erie Indemnity Co. Class A 36,524 3,099,792 0.0% # ESB Financial Corp. 8,890 165,887 0.0% ESSA Bancorp, Inc. 8,794 101,043 0.0% Evans Bancorp, Inc. 1,219 28,336 0.0% # EverBank Financial Corp. 5,397 103,353 0.0% Evercore Partners, Inc. Class A 35,853 1,856,110 0.0% Everest Re Group, Ltd. 38,478 6,566,271 0.1% #* Ezcorp, Inc. Class A 65,350 737,148 0.0% * Farmers Capital Bank Corp. 1,933 43,377 0.0% # FBL Financial Group, Inc. Class A 22,739 1,127,400 0.0% Federal Agricultural Mortgage Corp. Class A 773 18,938 0.0% # Federal Agricultural Mortgage Corp. Class C 9,100 303,030 0.0% # Federated Investors, Inc. Class B 113,296 3,542,766 0.0% Federated National Holding Co. 15,885 531,512 0.0% # Fidelity Southern Corp. 6,371 97,795 0.0% Fifth Third Bancorp 444,076 8,877,079 0.1% # Financial Engines, Inc. 9,992 398,381 0.0% # Financial Institutions, Inc. 11,282 283,629 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) * First Acceptance Corp. 9,100 $ 23,296 0.0% # First American Financial Corp. 103,809 3,147,489 0.0% First Bancorp of Indiana, Inc. 96 1,466 0.0% # First Bancorp, Inc. 5,920 104,725 0.0% * First BanCorp.(318672706) 57,884 301,576 0.0% # First Bancorp.(318910106) 13,598 246,396 0.0% * First Bancshares, Inc. 200 1,394 0.0% First Bancshares, Inc. (The) 237 3,564 0.0% # First Busey Corp. 86,193 538,706 0.0% # First Business Financial Services, Inc. 1,081 50,731 0.0% #* First Cash Financial Services, Inc. 32,207 1,902,790 0.0% First Citizens BancShares, Inc. Class A 6,552 1,645,928 0.0% # First Commonwealth Financial Corp. 135,934 1,270,983 0.0% First Community Bancshares, Inc. 15,359 251,427 0.0% First Defiance Financial Corp. 7,949 243,478 0.0% First Federal of Northern Michigan Bancorp, Inc. 200 978 0.0% First Financial Bancorp 71,334 1,251,198 0.0% # First Financial Bankshares, Inc. 42,062 1,336,730 0.0% # First Financial Corp. 11,314 392,370 0.0% First Financial Northwest, Inc. 12,837 148,909 0.0% * First Financial Service Corp. 917 3,393 0.0% # First Horizon National Corp. 288,872 3,714,894 0.0% First Interstate Bancsystem, Inc. 23,322 684,267 0.0% #* First Marblehead Corp. (The) 5,889 14,546 0.0% First Merchants Corp. 34,305 777,008 0.0% First Midwest Bancorp, Inc. 95,566 1,604,553 0.0% First Niagara Financial Group, Inc. 345,438 2,587,331 0.0% (Degree)* First Place Financial Corp. 9,209 1 0.0% First Republic Bank 100,844 5,135,985 0.1% First South Bancorp, Inc. 4,572 37,719 0.0% * First United Corp. 1,938 16,570 0.0% First West Virginia Bancorp 266 5,317 0.0% FirstMerit Corp. 172,061 3,157,319 0.0% #* Flagstar Bancorp, Inc. 51,712 812,913 0.0% # Flushing Financial Corp. 34,533 695,495 0.0% # FNB Corp. 209,492 2,679,403 0.0% FNF Group 204,074 6,089,568 0.1% * FNFV Group 68,017 914,148 0.0% * Forest City Enterprises, Inc. Class A 179,773 3,755,458 0.0% * Forest City Enterprises, Inc. Class B 4,615 96,661 0.0% * Forestar Group, Inc. 37,809 659,767 0.0% # Fox Chase Bancorp, Inc. 11,006 180,278 0.0% Franklin Resources, Inc. 122,485 6,811,391 0.1% Fulton Financial Corp. 269,987 3,207,446 0.0% # FXCM, Inc. Class A 34,906 574,553 0.0% # Gain Capital Holdings, Inc. 29,251 250,389 0.0% * GAINSCO, Inc. 513 5,386 0.0% # GAMCO Investors, Inc. Class A 6,835 564,708 0.0% * Genworth Financial, Inc. Class A 468,405 6,552,986 0.1% # German American Bancorp, Inc. 10,089 301,358 0.0% GFI Group, Inc. 116,588 641,234 0.0% # Glacier Bancorp, Inc. 79,414 2,278,388 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) #* Global Indemnity P.L.C. 14,009 $ 405,981 0.0% Goldman Sachs Group, Inc. (The) 159,257 30,257,237 0.3% # Great Southern Bancorp, Inc. 11,512 437,571 0.0% #* Green Dot Corp. Class A 42,115 1,006,548 0.0% # Greenhill & Co., Inc. 17,526 788,670 0.0% * Greenlight Capital Re, Ltd. Class A 33,813 1,097,232 0.0% # Griffin Land & Nurseries, Inc. 2,756 72,069 0.0% # Guaranty Bancorp 1,480 23,340 0.0% Guaranty Federal Bancshares, Inc. 909 11,540 0.0% * Hallmark Financial Services, Inc. 13,444 156,757 0.0% Hampden Bancorp, Inc. 818 14,070 0.0% Hancock Holding Co. 89,370 3,144,930 0.0% Hanmi Financial Corp. 46,030 987,343 0.0% # Hanover Insurance Group, Inc. (The) 65,609 4,391,866 0.1% Harleysville Savings Financial Corp. 1,916 32,285 0.0% Hartford Financial Services Group, Inc. (The) 235,302 9,313,253 0.1% Hawthorn Bancshares, Inc. 1,277 17,572 0.0% HCC Insurance Holdings, Inc. 104,750 5,466,902 0.1% # HCI Group, Inc. 14,504 737,383 0.0% # Heartland Financial USA, Inc. 15,126 402,352 0.0% # Heritage Commerce Corp. 19,954 173,600 0.0% # Heritage Financial Corp. 23,740 416,637 0.0% Heritage Financial Group, Inc. 4,012 85,014 0.0% HF Financial Corp. 1,948 26,473 0.0% HFF, Inc. Class A 34,813 1,095,913 0.0% * Hilltop Holdings, Inc. 94,254 2,076,416 0.0% Hingham Institution for Savings 458 37,886 0.0% * HMN Financial, Inc. 989 12,817 0.0% * Home Bancorp, Inc. 4,739 108,002 0.0% Home BancShares, Inc. 51,620 1,647,710 0.0% * HomeTrust Bancshares, Inc. 338 5,222 0.0% HopFed Bancorp, Inc. 1,211 13,854 0.0% Horace Mann Educators Corp. 33,317 1,013,170 0.0% Horizon Bancorp 1,500 38,580 0.0% * Howard Hughes Corp. (The) 40,962 6,036,980 0.1% Hudson City Bancorp, Inc. 416,419 4,018,443 0.0% # Hudson Valley Holding Corp. 12,778 290,572 0.0% Huntington Bancshares, Inc. 693,834 6,875,895 0.1% Iberiabank Corp. 42,124 2,900,659 0.0% # Independence Holding Co. 8,496 120,218 0.0% # Independent Bank Corp.(453836108) 26,383 1,076,426 0.0% Independent Bank Corp.(453838609) 3,800 45,866 0.0% # Independent Bank Group, Inc. 300 13,407 0.0% Infinity Property & Casualty Corp. 7,832 571,814 0.0% Interactive Brokers Group, Inc. Class A 84,322 2,177,194 0.0% Intercontinental Exchange, Inc. 29,771 6,201,002 0.1% * InterGroup Corp. (The) 200 3,800 0.0% International Bancshares Corp. 70,076 1,988,056 0.0% Intervest Bancshares Corp. Class A 15,492 151,047 0.0% #* INTL. FCStone, Inc. 16,685 301,998 0.0% Invesco, Ltd. 334,723 13,546,240 0.1% * Investment Technology Group, Inc. 38,012 681,555 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) # Investors Bancorp, Inc. 300,345 $ 3,228,709 0.0% Investors Title Co. 1,022 76,599 0.0% # Iron Mountain, Inc. 274,878 9,914,849 0.1% # Janus Capital Group, Inc. 197,552 2,961,304 0.0% JMP Group, Inc. 15,902 116,085 0.0% Jones Lang LaSalle, Inc. 43,037 5,819,033 0.1% JPMorgan Chase & Co. 1,455,716 88,041,704 0.8% * KCG Holdings, Inc. Class A 11,722 124,957 0.0% #* Kearny Financial Corp. 44,060 627,414 0.0% # Kemper Corp. 70,369 2,593,098 0.0% Kennedy-Wilson Holdings, Inc. 75,179 2,036,599 0.0% Kentucky First Federal Bancorp 936 7,666 0.0% KeyCorp 453,013 5,979,772 0.1% #* Ladenburg Thalmann Financial Services, Inc. 23,786 101,566 0.0% Lake Shore Bancorp, Inc. 125 1,731 0.0% Lakeland Bancorp, Inc. 27,316 300,203 0.0% # Lakeland Financial Corp. 16,920 701,165 0.0% Landmark Bancorp, Inc. 1,197 28,608 0.0% # Legg Mason, Inc. 131,430 6,834,360 0.1% Leucadia National Corp. 207,439 4,932,899 0.1% # Life Partners Holdings, Inc. 7,528 13,776 0.0% Lincoln National Corp. 142,060 7,779,206 0.1% LNB Bancorp, Inc. 6,277 88,129 0.0% Loews Corp. 174,629 7,613,824 0.1% Louisiana Bancorp, Inc. 2,100 43,848 0.0% # LPL Financial Holdings, Inc. 119,797 4,958,398 0.1% LSB Financial Corp. 259 11,287 0.0% # M&T Bank Corp. 64,812 7,918,730 0.1% # Macatawa Bank Corp. 19,394 101,043 0.0% * Magyar Bancorp, Inc. 211 1,834 0.0% # Maiden Holdings, Ltd. 90,127 1,077,018 0.0% # MainSource Financial Group, Inc. 15,803 287,457 0.0% * Malvern Bancorp, Inc. 134 1,503 0.0% Manning & Napier, Inc. 2,618 41,469 0.0% * Markel Corp. 10,422 7,200,456 0.1% # MarketAxess Holdings, Inc. 31,324 2,025,097 0.0% Marlin Business Services Corp. 11,172 236,176 0.0% Marsh & McLennan Cos., Inc. 164,354 8,935,927 0.1% * Maui Land & Pineapple Co., Inc. 2,542 15,532 0.0% # MB Financial, Inc. 79,780 2,517,059 0.0% * MBIA, Inc. 191,659 1,870,592 0.0% * MBT Financial Corp. 4,170 19,390 0.0% McGraw Hill Financial, Inc. 122,612 11,093,934 0.1% # Meadowbrook Insurance Group, Inc. 46,825 298,275 0.0% # Medallion Financial Corp. 22,015 254,273 0.0% # Mercantile Bank Corp. 7,802 153,933 0.0% # Merchants Bancshares, Inc. 4,638 138,166 0.0% Mercury General Corp. 58,723 3,119,366 0.0% #* Meridian Bancorp, Inc. 40,830 463,012 0.0% # Meta Financial Group, Inc. 1,310 49,138 0.0% MetLife, Inc. 335,963 18,222,633 0.2% * Metro Bancorp, Inc. 10,574 264,773 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) #* MGIC Investment Corp. 152,142 $ 1,357,107 0.0% MicroFinancial, Inc. 7,011 58,822 0.0% Mid Penn Bancorp, Inc. 497 7,699 0.0% # MidSouth Bancorp, Inc. 5,731 108,545 0.0% # MidWestOne Financial Group, Inc. 3,102 82,761 0.0% # Montpelier Re Holdings, Ltd. 46,585 1,543,827 0.0% Moody's Corp. 129,785 12,878,566 0.1% Morgan Stanley 512,475 17,911,001 0.2% * MSB Financial Corp. 339 3,065 0.0% MSCI, Inc. 92,812 4,330,608 0.1% MutualFirst Financial, Inc. 2,798 60,856 0.0% NASDAQ OMX Group, Inc. (The) 114,064 4,934,409 0.1% National Bank Holdings Corp. Class A 990 19,394 0.0% # National Interstate Corp. 14,597 415,139 0.0% National Penn Bancshares, Inc. 185,404 1,907,807 0.0% National Security Group, Inc. (The) 312 4,246 0.0% # National Western Life Insurance Co. Class A 1,427 386,717 0.0% #* Nationstar Mortgage Holdings, Inc. 10,981 385,653 0.0% * Naugatuck Valley Financial Corp. 610 4,849 0.0% Navient Corp. 349,918 6,921,378 0.1% * Navigators Group, Inc. (The) 14,054 956,937 0.0% # NBT Bancorp, Inc. 46,980 1,206,446 0.0% Nelnet, Inc. Class A 37,939 1,805,517 0.0% # New Hampshire Thrift Bancshares, Inc. 3,306 52,301 0.0% # New York Community Bancorp, Inc. 230,819 3,681,563 0.0% #* NewBridge Bancorp 8,957 79,628 0.0% #* NewStar Financial, Inc. 38,956 532,918 0.0% Nicholas Financial, Inc. 4,022 49,109 0.0% Northeast Bancorp 59 532 0.0% Northeast Community Bancorp, Inc. 3,456 24,192 0.0% Northern Trust Corp. 159,280 10,560,264 0.1% # Northfield Bancorp, Inc. 60,712 864,539 0.0% # Northrim BanCorp, Inc. 3,902 112,768 0.0% * NorthStar Asset Management Group, Inc. 18,988 344,063 0.0% # Northwest Bancshares, Inc. 115,669 1,484,033 0.0% # Norwood Financial Corp. 991 28,709 0.0% # Ocean Shore Holding Co. 3,964 57,082 0.0% OceanFirst Financial Corp. 16,231 268,948 0.0% #* Ocwen Financial Corp. 106,268 2,503,674 0.0% OFG Bancorp 61,240 953,507 0.0% Ohio Valley Banc Corp. 1,110 26,496 0.0% # Old Line Bancshares, Inc. 600 9,588 0.0% Old National Bancorp 137,533 2,001,105 0.0% Old Republic International Corp. 253,456 3,743,545 0.0% * Old Second Bancorp, Inc. 4,388 21,062 0.0% OmniAmerican Bancorp, Inc. 9,890 267,426 0.0% # OneBeacon Insurance Group, Ltd. Class A 27,319 435,192 0.0% Oppenheimer Holdings, Inc. Class A 8,464 207,791 0.0% # Oritani Financial Corp. 60,285 890,409 0.0% Pacific Continental Corp. 15,394 221,981 0.0% * Pacific Mercantile Bancorp 7,453 52,469 0.0% #* Pacific Premier Bancorp, Inc. 2,700 43,713 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) PacWest Bancorp 99,963 $ 4,264,422 0.1% # Park National Corp. 12,868 1,085,673 0.0% Park Sterling Corp. 20,322 155,667 0.0% PartnerRe, Ltd. 53,064 6,138,974 0.1% * Patriot National Bancorp, Inc. 500 920 0.0% # Peapack Gladstone Financial Corp. 6,688 122,056 0.0% # Penns Woods Bancorp, Inc. 3,034 147,240 0.0% # People's United Financial, Inc. 334,855 4,895,580 0.1% Peoples Bancorp 470 11,350 0.0% Peoples Bancorp of North Carolina, Inc. 2,042 35,735 0.0% # Peoples Bancorp, Inc. 9,279 228,727 0.0% #* PHH Corp. 53,569 1,269,050 0.0% #* Phoenix Cos., Inc. (The) 4,663 276,796 0.0% #* PICO Holdings, Inc. 22,220 491,062 0.0% # Pinnacle Financial Partners, Inc. 36,380 1,426,096 0.0% #* Piper Jaffray Cos. 12,428 701,685 0.0% # Platinum Underwriters Holdings, Ltd. 29,146 1,825,414 0.0% PNC Financial Services Group, Inc. (The) 184,766 15,961,935 0.2% * Popular, Inc. 100,755 3,212,069 0.0% #* Porter Bancorp, Inc. 3,389 2,376 0.0% PRA Group, Inc. 67,479 4,268,047 0.1% # Preferred Bank 1,261 33,517 0.0% Premier Financial Bancorp, Inc. 2,911 42,413 0.0% # Primerica, Inc. 64,720 3,310,428 0.0% Principal Financial Group, Inc. 191,258 10,016,181 0.1% PrivateBancorp, Inc. 78,398 2,533,823 0.0% ProAssurance Corp. 60,595 2,834,634 0.0% Progressive Corp. (The) 543,884 14,363,976 0.1% # Prosperity Bancshares, Inc. 65,959 3,983,264 0.0% Protective Life Corp. 83,805 5,839,532 0.1% Provident Financial Holdings, Inc. 6,264 91,329 0.0% # Provident Financial Services, Inc. 61,415 1,119,595 0.0% Prudential Bancorp, Inc. 2,842 34,473 0.0% Prudential Financial, Inc. 160,970 14,252,284 0.1% * PSB Holdings, Inc. 1,100 8,426 0.0% Pulaski Financial Corp. 7,180 85,945 0.0% # Pzena Investment Management, Inc. Class A 8,560 86,028 0.0% * QC Holdings, Inc. 8,157 13,867 0.0% QCR Holdings, Inc. 1,185 21,034 0.0% # Radian Group, Inc. 100,718 1,697,098 0.0% Raymond James Financial, Inc. 105,086 5,898,477 0.1% # RCS Capital Corp. Class A 25,817 423,657 0.0% * Realogy Holdings Corp. 53,780 2,205,518 0.0% Regions Financial Corp. 656,447 6,518,519 0.1% Reinsurance Group of America, Inc. 75,920 6,396,260 0.1% # RenaissanceRe Holdings, Ltd. 49,929 5,159,164 0.1% # Renasant Corp. 27,964 843,115 0.0% Republic Bancorp, Inc. Class A 14,893 361,155 0.0% * Republic First Bancorp, Inc. 14,828 58,867 0.0% # Resource America, Inc. Class A 21,470 204,824 0.0% * Riverview Bancorp, Inc. 9,533 38,799 0.0% # RLI Corp. 44,620 2,212,706 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) * Royal Bancshares of Pennsylvania, Inc. Class A 4,906 $ 9,174 0.0% # S&T Bancorp, Inc. 28,907 797,544 0.0% #* Safeguard Scientifics, Inc. 21,185 422,641 0.0% Safety Insurance Group, Inc. 43,015 2,683,276 0.0% Salisbury Bancorp, Inc. 543 14,905 0.0% # Sandy Spring Bancorp, Inc. 23,110 596,238 0.0% SB Financial Group, Inc. 1,124 10,273 0.0% #* Seacoast Banking Corp. of Florida 6,735 85,939 0.0% * Security National Financial Corp. Class A 899 4,486 0.0% SEI Investments Co. 135,230 5,227,992 0.1% * Select Bancorp, Inc. 300 2,031 0.0% Selective Insurance Group, Inc. 54,425 1,405,253 0.0% #* Shore Bancshares, Inc. 3,114 28,587 0.0% SI Financial Group, Inc. 5,983 66,052 0.0% * Siebert Financial Corp. 3,562 7,801 0.0% # Sierra Bancorp 9,727 166,915 0.0% * Signature Bank 49,066 5,943,365 0.1% # Simmons First National Corp. Class A 17,667 741,837 0.0% Simplicity Bancorp, Inc. 6,143 101,789 0.0% SLM Corp. 524,399 5,008,010 0.1% South State Corp. 21,745 1,311,441 0.0% * Southcoast Financial Corp. 2,666 18,502 0.0% (Degree) Southern Community Financial Corp. 5,725 5,300 0.0% * Southern First Bancshares, Inc. 1,052 15,296 0.0% # Southern Missouri Bancorp, Inc. 557 20,592 0.0% # Southern National Bancorp of Virginia, Inc. 302 3,497 0.0% # Southside Bancshares, Inc. 18,247 612,734 0.0% Southwest Bancorp, Inc. 16,450 296,593 0.0% Southwest Georgia Financial Corp. 863 11,650 0.0% #* St Joe Co. (The) 66,355 1,270,698 0.0% StanCorp Financial Group, Inc. 53,470 3,719,373 0.0% State Auto Financial Corp. 31,122 651,383 0.0% State Street Corp. 145,617 10,988,259 0.1% Sterling Bancorp 82,932 1,166,024 0.0% Stewart Information Services Corp. 24,271 857,252 0.0% * Stifel Financial Corp. 71,885 3,415,256 0.0% # Stock Yards Bancorp, Inc. 11,700 389,376 0.0% * Stratus Properties, Inc. 2,912 40,244 0.0% Suffolk Bancorp 11,604 266,428 0.0% # Summit State Bank 1,967 25,355 0.0% #* Sun Bancorp, Inc. 5,889 118,958 0.0% SunTrust Banks, Inc. 170,313 6,666,051 0.1% Susquehanna Bancshares, Inc. 274,050 2,688,430 0.0% Sussex Bancorp 448 4,502 0.0% * SVB Financial Group 58,595 6,562,054 0.1% #* SWS Group, Inc. 12,800 94,592 0.0% Symetra Financial Corp. 114,793 2,720,594 0.0% # Synovus Financial Corp. 158,441 4,018,064 0.0% T Rowe Price Group, Inc. 95,012 7,799,535 0.1% TCF Financial Corp. 234,959 3,630,117 0.0% # TD Ameritrade Holding Corp. 261,601 8,826,418 0.1% #* Tejon Ranch Co. 15,148 457,167 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) # Territorial Bancorp, Inc. 9,185 $ 197,294 0.0% # Teton Advisors, Inc. Class A 29 1,479 0.0% #* Texas Capital Bancshares, Inc. 39,898 2,439,763 0.0% # TFS Financial Corp. 214,918 3,210,875 0.0% Timberland Bancorp, Inc. 1,600 16,896 0.0% # Tompkins Financial Corp. 12,472 626,094 0.0% Torchmark Corp. 103,336 5,472,675 0.1% # Towne Bank 25,090 380,364 0.0% Travelers Cos., Inc. (The) 184,867 18,634,594 0.2% #* Tree.com, Inc. 8,606 318,336 0.0% # Trico Bancshares 15,750 414,225 0.0% #* Trinity Place Holdings, Inc. 892 5,138 0.0% # TrustCo Bank Corp. 98,926 722,160 0.0% # Trustmark Corp. 84,186 2,048,245 0.0% U.S. Bancorp 640,200 27,272,520 0.3% # UMB Financial Corp. 46,031 2,742,527 0.0% Umpqua Holdings Corp. 117,570 2,069,232 0.0% #* Unico American Corp. 100 1,164 0.0% # Union Bankshares Corp. 41,470 932,246 0.0% Union Bankshares, Inc. 863 21,135 0.0% United Bancshares, Inc. 1,036 15,354 0.0% # United Bankshares, Inc. 65,264 2,237,250 0.0% United Community Bancorp 99 1,181 0.0% United Community Banks, Inc. 53,890 971,637 0.0% # United Community Financial Corp. 6,897 35,313 0.0% United Financial Bancorp, Inc. 46,313 649,771 0.0% # United Fire Group, Inc. 21,736 705,985 0.0% * United Security Bancshares 4,673 26,402 0.0% Unity Bancorp, Inc. 4,260 39,022 0.0% # Universal Insurance Holdings, Inc. 68,995 1,207,412 0.0% # Univest Corp. of Pennsylvania 16,228 332,999 0.0% Unum Group 134,098 4,486,919 0.1% Validus Holdings, Ltd. 99,741 3,967,697 0.0% # Valley National Bancorp 174,413 1,740,642 0.0% # ViewPoint Financial Group, Inc. 38,969 1,062,685 0.0% Virtus Investment Partners, Inc. 8,316 1,490,310 0.0% Voya Financial, Inc. 92,371 3,625,562 0.0% # VSB Bancorp, Inc. 169 1,998 0.0% Waddell & Reed Financial, Inc. Class A 76,335 3,644,233 0.0% #* Walker & Dunlop, Inc. 9,634 155,204 0.0% Washington Federal, Inc. 147,933 3,229,377 0.0% # Washington Trust Bancorp, Inc. 16,499 633,067 0.0% # Waterstone Financial, Inc. 13,136 160,785 0.0% Wayne Savings Bancshares, Inc. 955 12,272 0.0% # Webster Financial Corp. 123,431 3,868,328 0.0% Wells Fargo & Co. 1,814,636 96,339,025 0.9% # WesBanco, Inc. 27,940 962,812 0.0% # West Bancorporation, Inc. 12,598 208,875 0.0% # Westamerica Bancorporation 23,834 1,175,970 0.0% * Western Alliance Bancorp 83,792 2,230,543 0.0% Westfield Financial, Inc. 20,512 145,020 0.0% # Westwood Holdings Group, Inc. 4,374 295,245 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) Willis Group Holdings P.L.C. 101,025 $ 4,094,543 0.0% # Wilshire Bancorp, Inc. 120,098 1,188,970 0.0% Wintrust Financial Corp. 60,184 2,787,723 0.0% #* WisdomTree Investments, Inc. 120,519 1,777,655 0.0% #* World Acceptance Corp. 9,067 649,741 0.0% WR Berkley Corp. 97,415 5,020,769 0.1% # WSFS Financial Corp. 4,674 367,610 0.0% WVS Financial Corp. 803 8,773 0.0% XL Group P.L.C. 222,799 7,548,430 0.1% * Yadkin Financial Corp. 3,204 62,190 0.0% Zions Bancorporation 183,285 5,309,766 0.1% -------------------- ------------------ Total Financials 1,593,005,232 14.8% -------------------- ------------------ Health Care -- (10.4%) # Abaxis, Inc. 7,459 392,791 0.0% Abbott Laboratories 273,751 11,932,806 0.1% AbbVie, Inc. 728,519 46,231,816 0.4% #* Acadia Healthcare Co., Inc. 44,404 2,755,268 0.0% #* Accuray, Inc. 47,447 300,340 0.0% #* Acorda Therapeutics, Inc. 27,912 971,896 0.0% * Actavis P.L.C. 91,395 22,185,222 0.2% #* Adcare Health Systems, Inc. 2,984 12,891 0.0% #* Addus HomeCare Corp. 9,732 193,375 0.0% Aetna, Inc. 134,335 11,083,981 0.1% #* Affymetrix, Inc. 89,923 810,206 0.0% Agilent Technologies, Inc. 73,407 4,057,939 0.1% #* Air Methods Corp. 66,744 3,152,319 0.0% #* Akorn, Inc. 70,162 3,125,717 0.0% #* Albany Molecular Research, Inc. 23,579 548,448 0.0% * Alere, Inc. 90,178 3,604,415 0.0% * Alexion Pharmaceuticals, Inc. 52,738 10,091,944 0.1% #* Align Technology, Inc. 53,254 2,802,225 0.0% #* Alkermes P.L.C. 109,570 5,538,763 0.1% Allergan, Inc. 82,027 15,590,052 0.2% * Alliance HealthCare Services, Inc. 5,721 138,048 0.0% #* Allied Healthcare Products, Inc. 1,583 2,976 0.0% * Allscripts Healthcare Solutions, Inc. 203,156 2,787,300 0.0% * Almost Family, Inc. 7,302 214,971 0.0% #* Alnylam Pharmaceuticals, Inc. 27,384 2,539,592 0.0% #* Alphatec Holdings, Inc. 40,201 61,106 0.0% #* AMAG Pharmaceuticals, Inc. 14,999 495,117 0.0% #* Amedisys, Inc. 38,487 1,004,511 0.0% #* American Shared Hospital Services 797 1,729 0.0% AmerisourceBergen Corp. 113,320 9,678,661 0.1% Amgen, Inc. 236,350 38,331,243 0.4% #* AMN Healthcare Services, Inc. 43,473 745,562 0.0% * Amsurg Corp. 44,871 2,423,483 0.0% #* Anacor Pharmaceuticals, Inc. 7,666 225,457 0.0% Analogic Corp. 12,091 881,918 0.0% #* AngioDynamics, Inc. 32,622 554,574 0.0% #* Anika Therapeutics, Inc. 19,893 798,505 0.0% #* Arqule, Inc. 11,499 13,224 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Health Care -- (Continued) * Arrhythmia Research Technology, Inc. 1,150 $ 7,418 0.0% #* athenahealth, Inc. 12,686 1,554,035 0.0% * AtriCure, Inc. 2,500 43,600 0.0% # Atrion Corp. 1,243 410,202 0.0% #* Auxilium Pharmaceuticals, Inc. 33,410 1,074,800 0.0% * AVEO Pharmaceuticals, Inc. 1,372 1,331 0.0% Baxter International, Inc. 208,268 14,607,918 0.1% Becton Dickinson and Co. 57,580 7,410,546 0.1% * Bio-Rad Laboratories, Inc. Class A 22,788 2,570,942 0.0% * Bio-Rad Laboratories, Inc. Class B 1,562 168,641 0.0% * Bio-Reference Laboratories, Inc. 19,000 570,760 0.0% * Bio-Techne Corp. 32,961 3,001,099 0.0% #* Bioanalytical Systems, Inc. 400 920 0.0% * Biogen Idec, Inc. 89,951 28,881,467 0.3% * BioMarin Pharmaceutical, Inc. 34,344 2,833,380 0.0% #* BioScrip, Inc. 107,250 692,835 0.0% * Biospecifics Technologies Corp. 1,900 76,228 0.0% * Biota Pharmaceuticals, Inc. 1,866 4,572 0.0% * BioTelemetry, Inc. 20,541 172,339 0.0% * Boston Scientific Corp. 1,003,610 13,327,941 0.1% #* Bovie Medical Corp. 7,222 28,455 0.0% Bristol-Myers Squibb Co. 388,702 22,618,569 0.2% * Brookdale Senior Living, Inc. 150,628 5,077,670 0.1% * Bruker Corp. 149,522 3,099,591 0.0% * Cambrex Corp. 39,104 824,312 0.0% Cantel Medical Corp. 34,264 1,452,794 0.0% #* Capital Senior Living Corp. 27,479 618,277 0.0% Cardinal Health, Inc. 126,078 9,894,601 0.1% * CareFusion Corp. 117,768 6,756,350 0.1% * Celgene Corp. 360,073 38,560,218 0.4% #* Celsion Corp. 666 1,825 0.0% * Centene Corp. 42,449 3,933,749 0.0% * Cepheid 5,737 304,118 0.0% * Cerner Corp. 81,908 5,188,053 0.1% * Charles River Laboratories International, Inc. 59,905 3,783,600 0.0% # Chemed Corp. 13,600 1,405,696 0.0% Cigna Corp. 155,296 15,462,823 0.2% #* Columbia Laboratories, Inc. 386 2,385 0.0% * Community Health Systems, Inc. 152,522 8,384,134 0.1% # Computer Programs & Systems, Inc. 11,379 716,649 0.0% CONMED Corp. 22,248 934,194 0.0% (Degree)* Contra Furiex Pharmaceuticals 6,234 60,906 0.0% Cooper Cos., Inc. (The) 37,384 6,127,238 0.1% * Corvel Corp. 17,544 603,864 0.0% * Covance, Inc. 44,348 3,543,405 0.0% Covidien P.L.C. 115,859 10,710,006 0.1% CR Bard, Inc. 37,044 6,074,105 0.1% #* Cross Country Healthcare, Inc. 32,018 309,614 0.0% # CryoLife, Inc. 26,075 267,529 0.0% #* Cubist Pharmaceuticals, Inc. 63,461 4,587,596 0.1% #* Cumberland Pharmaceuticals, Inc. 14,360 70,364 0.0% #* Cutera, Inc. 12,003 126,032 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Health Care -- (Continued) * Cyberonics, Inc. 19,365 $ 1,016,662 0.0% #* Cynosure, Inc. Class A 19,235 486,453 0.0% #* Cytokinetics, Inc. 2,470 9,065 0.0% * DaVita HealthCare Partners, Inc. 163,872 12,793,487 0.1% Daxor Corp. 2,013 12,913 0.0% DENTSPLY International, Inc. 79,922 4,057,640 0.0% #* Depomed, Inc. 60,026 924,400 0.0% #* DexCom, Inc. 7,106 319,415 0.0% Digirad Corp. 9,575 41,173 0.0% #* Durect Corp. 18,393 13,427 0.0% * Edwards Lifesciences Corp. 39,623 4,791,213 0.1% Eli Lilly & Co. 301,703 20,011,960 0.2% #* Emergent Biosolutions, Inc. 41,580 940,540 0.0% #* Endo International P.L.C. 52,512 3,514,103 0.0% # Ensign Group, Inc. (The) 25,322 980,468 0.0% #* EnteroMedics, Inc. 100 134 0.0% * Envision Healthcare Holdings, Inc. 55,781 1,949,546 0.0% #* Enzo Biochem, Inc. 23,675 123,584 0.0% #* EPIRUS Biopharmaceuticals, Inc. 311 1,539 0.0% #* Exact Sciences Corp. 1,550 37,309 0.0% * Exactech, Inc. 11,305 240,796 0.0% #* ExamWorks Group, Inc. 41,556 1,611,542 0.0% * Express Scripts Holding Co. 253,160 19,447,751 0.2% * Five Star Quality Care, Inc. 53,345 220,315 0.0% * Gentiva Health Services, Inc. 27,565 543,030 0.0% * Gilead Sciences, Inc. 697,050 78,069,600 0.7% #* Globus Medical, Inc. Class A 69,819 1,547,887 0.0% * Greatbatch, Inc. 23,156 1,162,200 0.0% #* Haemonetics Corp. 39,016 1,471,684 0.0% #* Hanger, Inc. 37,035 886,248 0.0% #* Harvard Apparatus Regenerative Technology, Inc. 6,528 40,996 0.0% * Harvard Bioscience, Inc. 26,114 125,347 0.0% * HCA Holdings, Inc. 93,141 6,524,527 0.1% * Health Net, Inc. 80,093 3,805,218 0.0% HealthSouth Corp. 79,566 3,208,897 0.0% #* HealthStream, Inc. 10,500 325,080 0.0% #* Healthways, Inc. 40,227 623,518 0.0% * Henry Schein, Inc. 51,779 6,215,033 0.1% Hill-Rom Holdings, Inc. 67,994 3,024,373 0.0% #* HMS Holdings Corp. 55,059 1,279,021 0.0% #* Hologic, Inc. 208,592 5,463,024 0.1% * Hospira, Inc. 124,280 6,673,836 0.1% Humana, Inc. 121,062 16,809,459 0.2% * Hyperion Therapeutics, Inc. 922 22,405 0.0% #* ICU Medical, Inc. 14,367 1,018,620 0.0% #* Idera Pharmaceuticals, Inc. 12,837 32,734 0.0% #* IDEXX Laboratories, Inc. 32,012 4,535,140 0.1% * Illumina, Inc. 40,946 7,885,381 0.1% * Impax Laboratories, Inc. 76,063 2,203,545 0.0% #* Incyte Corp. 92,002 6,169,654 0.1% * Infinity Pharmaceuticals, Inc. 11,703 159,395 0.0% #* Insys Therapeutics, Inc. 4,960 201,748 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Health Care -- (Continued) #* Integra LifeSciences Holdings Corp. 24,252 $ 1,239,520 0.0% #* Intercept Pharmaceuticals, Inc. 3,221 832,274 0.0% * Intuitive Surgical, Inc. 10,361 5,136,984 0.1% # Invacare Corp. 32,126 504,699 0.0% #* IPC The Hospitalist Co., Inc. 13,189 549,454 0.0% #* Iridex Corp. 2,696 21,083 0.0% #* Isis Pharmaceuticals, Inc. 36,563 1,684,092 0.0% #* Jazz Pharmaceuticals P.L.C. 24,645 4,161,062 0.1% Johnson & Johnson 877,748 94,603,679 0.9% Kewaunee Scientific Corp. 1,352 23,525 0.0% Kindred Healthcare, Inc. 73,452 1,597,581 0.0% * Laboratory Corp. of America Holdings 64,802 7,082,211 0.1% # Landauer, Inc. 4,482 160,411 0.0% #* Lannett Co., Inc. 32,370 1,836,026 0.0% # LeMaitre Vascular, Inc. 8,529 62,432 0.0% #* LHC Group, Inc. 17,950 437,082 0.0% * LifePoint Hospitals, Inc. 42,949 3,006,430 0.0% #* Ligand Pharmaceuticals, Inc. Class B 11,703 646,825 0.0% * Luminex Corp. 32,972 626,468 0.0% * Magellan Health Services, Inc. 32,453 1,964,056 0.0% * Mallinckrodt P.L.C. 69,800 6,434,164 0.1% #* Masimo Corp. 45,571 1,150,212 0.0% #* Mast Therapeutics, Inc. 9,644 4,908 0.0% McKesson Corp. 71,530 14,549,917 0.1% #* MedAssets, Inc. 73,229 1,586,140 0.0% (Degree)* MedCath Corp. 11,283 -- 0.0% * Medicines Co. (The) 46,359 1,173,810 0.0% #* MediciNova, Inc. 1,657 5,915 0.0% * Medivation, Inc. 21,897 2,314,513 0.0% #* MEDNAX, Inc. 100,710 6,287,325 0.1% # Medtronic, Inc. 286,106 19,500,985 0.2% Merck & Co., Inc. 855,685 49,578,389 0.5% # Meridian Bioscience, Inc. 23,944 443,922 0.0% #* Merit Medical Systems, Inc. 44,545 674,857 0.0% * Mettler-Toledo International, Inc. 17,599 4,548,814 0.1% #* Misonix, Inc. 2,220 29,659 0.0% * Molina Healthcare, Inc. 45,300 2,203,392 0.0% #* Momenta Pharmaceuticals, Inc. 45,221 493,361 0.0% #* MWI Veterinary Supply, Inc. 9,659 1,638,698 0.0% #* Mylan, Inc. 190,401 10,195,974 0.1% #* Myriad Genetics, Inc. 60,906 2,405,178 0.0% # National Healthcare Corp. 11,008 663,892 0.0% #* National Research Corp. Class A 11,661 185,293 0.0% #* National Research Corp. Class B 1,943 63,575 0.0% * Natus Medical, Inc. 32,808 1,115,472 0.0% #* Neogen Corp. 13,046 572,719 0.0% * NPS Pharmaceuticals, Inc. 2,257 61,842 0.0% * NuVasive, Inc. 30,343 1,241,029 0.0% Omnicare, Inc. 86,936 5,789,068 0.1% #* Omnicell, Inc. 37,789 1,220,963 0.0% #* OncoGenex Pharmaceutical, Inc. 1,100 2,464 0.0% #* Opko Health, Inc. 207,522 1,732,809 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Health Care -- (Continued) #* OraSure Technologies, Inc. 43,327 $ 387,777 0.0% * Orthofix International NV 16,307 478,610 0.0% # Owens & Minor, Inc. 67,789 2,258,729 0.0% #* Pacific Biosciences of California, Inc. 27,980 183,549 0.0% #* Pacira Pharmaceuticals, Inc. 7,542 700,048 0.0% * Pain Therapeutics, Inc. 40,174 69,903 0.0% * Paratek Pharmaceuticals, Inc. 825 13,408 0.0% #* PAREXEL International Corp. 73,575 3,995,858 0.0% # Patterson Cos., Inc. 75,864 3,270,497 0.0% #* PDI, Inc. 10,224 18,608 0.0% # PDL BioPharma, Inc. 98,354 838,960 0.0% PerkinElmer, Inc. 122,022 5,298,195 0.1% #* Pernix Therapeutics Holdings, Inc. 14,663 142,964 0.0% Perrigo Co. P.L.C. 34,138 5,511,580 0.1% Pfizer, Inc. 2,180,998 65,320,890 0.6% #* Pharmacyclics, Inc. 21,549 2,815,808 0.0% * PharMerica Corp. 43,819 1,257,167 0.0% #* PhotoMedex, Inc. 5,223 20,056 0.0% # Pozen, Inc. 24,054 218,170 0.0% #* Prestige Brands Holdings, Inc. 55,241 1,956,636 0.0% #* Progenics Pharmaceuticals, Inc. 32,363 156,313 0.0% * ProPhase Labs, Inc. 3,827 5,320 0.0% #* Providence Service Corp. (The) 23,333 1,030,852 0.0% #* pSivida Corp. 6,147 24,219 0.0% Psychemedics Corp. 400 5,776 0.0% #* Puma Biotechnology, Inc. 4,441 1,112,915 0.0% # Quality Systems, Inc. 48,767 736,869 0.0% # Quest Diagnostics, Inc. 131,957 8,373,991 0.1% #* Quidel Corp. 26,958 769,651 0.0% * Quintiles Transnational Holdings, Inc. 27,503 1,610,026 0.0% #* RadNet, Inc. 42,506 395,306 0.0% * Receptos, Inc. 14,723 1,526,039 0.0% * Regeneron Pharmaceuticals, Inc. 30,202 11,891,131 0.1% #* Repligen Corp. 26,740 674,383 0.0% # ResMed, Inc. 52,948 2,764,945 0.0% #* Retractable Technologies, Inc. 2,700 9,747 0.0% * Rigel Pharmaceuticals, Inc. 43,188 85,512 0.0% #* RTI Surgical, Inc. 47,690 242,742 0.0% #* Sagent Pharmaceuticals, Inc. 14,744 466,500 0.0% #* Salix Pharmaceuticals, Ltd. 36,039 5,184,210 0.1% * Sciclone Pharmaceuticals, Inc. 54,788 418,580 0.0% #* Seattle Genetics, Inc. 48,892 1,792,870 0.0% Select Medical Holdings Corp. 175,332 2,528,287 0.0% * Sirona Dental Systems, Inc. 42,304 3,322,979 0.0% #* Skilled Healthcare Group, Inc. Class A 15,845 109,806 0.0% Span-America Medical Systems, Inc. 1,628 30,688 0.0% #* Special Diversified Opportunities, Inc. 6,364 7,573 0.0% #* Spectrum Pharmaceuticals, Inc. 39,588 300,077 0.0% St Jude Medical, Inc. 145,191 9,316,906 0.1% #* Staar Surgical Co. 7,839 75,019 0.0% * Stereotaxis, Inc. 1,899 3,760 0.0% # STERIS Corp. 44,418 2,745,032 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Health Care -- (Continued) Stryker Corp. 57,385 $ 5,022,909 0.1% #* Sucampo Pharmaceuticals, Inc. Class A 11,999 103,431 0.0% #* SunLink Health Systems, Inc. 2,605 4,559 0.0% #* SurModics, Inc. 12,999 281,428 0.0% * Symmetry Medical, Inc. 38,655 382,684 0.0% * Targacept, Inc. 1,592 3,725 0.0% * Taro Pharmaceutical Industries, Ltd. 9,801 1,587,174 0.0% #* Team Health Holdings, Inc. 64,180 4,013,817 0.0% # Teleflex, Inc. 41,136 4,694,440 0.1% #* Tenet Healthcare Corp. 87,642 4,912,334 0.1% #* Theravance Biopharma, Inc. 13,088 239,510 0.0% Thermo Fisher Scientific, Inc. 97,669 11,482,944 0.1% #* Thoratec Corp. 45,894 1,247,399 0.0% * Tornier NV 27,511 768,932 0.0% #* Triple-S Management Corp. Class B 22,433 496,667 0.0% #* United Therapeutics Corp. 52,346 6,855,756 0.1% UnitedHealth Group, Inc. 363,224 34,509,912 0.3% #* Universal American Corp. 80,319 748,573 0.0% Universal Health Services, Inc. Class B 71,985 7,465,564 0.1% * Uroplasty, Inc. 2,100 5,250 0.0% # US Physical Therapy, Inc. 10,155 438,188 0.0% # Utah Medical Products, Inc. 2,567 145,806 0.0% #* Varian Medical Systems, Inc. 48,402 4,071,576 0.1% #* Vascular Solutions, Inc. 14,292 420,328 0.0% * VCA, Inc. 102,433 4,667,872 0.1% * Vertex Pharmaceuticals, Inc. 50,604 5,700,035 0.1% * Vical, Inc. 14,130 17,663 0.0% #* Volcano Corp. 4,371 44,235 0.0% * Waters Corp. 29,861 3,308,599 0.0% #* WellCare Health Plans, Inc. 50,109 3,400,898 0.0% WellPoint, Inc. 106,927 13,546,582 0.1% # West Pharmaceutical Services, Inc. 56,638 2,902,697 0.0% #* Wright Medical Group, Inc. 42,053 1,329,716 0.0% #* XenoPort, Inc. 5,173 35,073 0.0% Zimmer Holdings, Inc. 100,495 11,179,064 0.1% Zoetis, Inc. 535,151 19,886,211 0.2% -------------------- ------------------ Total Health Care 1,251,235,263 11.6% -------------------- ------------------ Industrials -- (12.0%) 3M Co. 282,916 43,503,993 0.4% # AAON, Inc. 56,281 1,105,922 0.0% # AAR Corp. 35,816 949,124 0.0% ABM Industries, Inc. 65,001 1,796,628 0.0% # Acacia Research Corp. 41,555 747,990 0.0% * ACCO Brands Corp. 127,010 1,045,292 0.0% * Accuride Corp. 14,909 71,861 0.0% # Aceto Corp. 35,307 802,881 0.0% # Acme United Corp. 1,000 17,250 0.0% * Active Power, Inc. 360 662 0.0% Actuant Corp. Class A 73,166 2,318,631 0.0% Acuity Brands, Inc. 34,556 4,818,143 0.1% #* Adept Technology, Inc. 6,777 47,981 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) # ADT Corp. (The) 165,340 $ 5,925,786 0.1% #* Advisory Board Co. (The) 15,439 828,611 0.0% * AECOM Technology Corp. 129,836 4,226,151 0.1% #* Aegion Corp. 45,166 827,441 0.0% #* AeroCentury Corp. 691 7,684 0.0% * Aerovironment, Inc. 27,152 832,209 0.0% # AGCO Corp. 87,613 3,882,132 0.0% Air Lease Corp. 78,791 2,882,963 0.0% * Air Transport Services Group, Inc. 64,750 529,655 0.0% # Aircastle, Ltd. 36,798 702,106 0.0% # Alamo Group, Inc. 14,219 609,142 0.0% Alaska Air Group, Inc. 189,862 10,106,354 0.1% Albany International Corp. Class A 29,657 1,120,441 0.0% # Allegiant Travel Co. 25,596 3,416,298 0.0% Allegion P.L.C. 58,306 3,095,466 0.0% Alliant Techsystems, Inc. 34,796 4,069,740 0.1% (Degree) Allied Defense Group, Inc. 3,200 256 0.0% Allied Motion Technologies, Inc. 5,104 74,927 0.0% Allison Transmission Holdings, Inc. 218,426 7,094,477 0.1% Altra Industrial Motion Corp. 30,288 954,678 0.0% AMERCO 21,572 5,848,601 0.1% #* Ameresco, Inc. Class A 21,115 173,988 0.0% American Airlines Group, Inc. 218,064 9,016,946 0.1% # American Railcar Industries, Inc. 19,392 1,276,188 0.0% # American Science & Engineering, Inc. 6,060 335,118 0.0% #* American Superconductor Corp. 8,960 11,738 0.0% * American Woodmark Corp. 14,812 605,959 0.0% AMETEK, Inc. 141,929 7,401,597 0.1% * AMREP Corp. 3,360 13,070 0.0% # AO Smith Corp. 73,762 3,935,203 0.1% # Apogee Enterprises, Inc. 26,535 1,164,887 0.0% # Applied Industrial Technologies, Inc. 38,118 1,860,540 0.0% * ARC Document Solutions, Inc. 49,095 498,314 0.0% # ArcBest Corp. 24,176 935,611 0.0% Argan, Inc. 21,975 764,950 0.0% #* Armstrong World Industries, Inc. 66,663 3,227,822 0.0% #* Arotech Corp. 14,831 43,751 0.0% # Astec Industries, Inc. 27,202 1,031,228 0.0% * Astronics Corp. 12,631 654,412 0.0% #* Astronics Corp. Class B 4,554 235,442 0.0% #* Atlas Air Worldwide Holdings, Inc. 33,448 1,234,900 0.0% #* Avalon Holdings Corp. Class A 500 1,750 0.0% * Avis Budget Group, Inc. 161,539 9,005,799 0.1% # AZZ, Inc. 27,023 1,263,595 0.0% * B/E Aerospace, Inc. 54,163 4,032,435 0.1% Babcock & Wilcox Co. (The) 114,847 3,284,624 0.0% # Baltic Trading, Ltd. 8,669 32,509 0.0% # Barnes Group, Inc. 63,775 2,331,614 0.0% # Barrett Business Services, Inc. 7,132 167,673 0.0% #* Beacon Roofing Supply, Inc. 54,549 1,509,371 0.0% * Blount International, Inc. 90,490 1,385,402 0.0% #* BlueLinx Holdings, Inc. 25,832 30,998 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) Boeing Co. (The) 316,118 $ 39,486,299 0.4% Brady Corp. Class A 54,414 1,297,230 0.0% * Breeze-Eastern Corp. 4,762 49,572 0.0% # Briggs & Stratton Corp. 55,512 1,121,898 0.0% Brink's Co. (The) 48,512 1,018,752 0.0% * Broadwind Energy, Inc. 488 3,113 0.0% #* Builders FirstSource, Inc. 59,256 351,388 0.0% #* CAI International, Inc. 18,200 383,110 0.0% Carlisle Cos., Inc. 61,860 5,498,117 0.1% #* Casella Waste Systems, Inc. Class A 23,106 103,977 0.0% Caterpillar, Inc. 214,396 21,741,898 0.2% #* CBIZ, Inc. 69,271 639,371 0.0% CDI Corp. 16,021 275,401 0.0% # Ceco Environmental Corp. 14,425 206,566 0.0% # Celadon Group, Inc. 35,328 687,483 0.0% # CH Robinson Worldwide, Inc. 86,244 5,968,947 0.1% #* Chart Industries, Inc. 25,103 1,168,545 0.0% # Chicago Bridge & Iron Co. NV 64,397 3,518,652 0.0% Chicago Rivet & Machine Co. 474 14,708 0.0% Cintas Corp. 87,943 6,440,945 0.1% # CIRCOR International, Inc. 16,096 1,209,614 0.0% Civeo Corp. 124,628 1,519,215 0.0% # CLARCOR, Inc. 41,935 2,807,968 0.0% #* Clean Harbors, Inc. 71,892 3,568,000 0.0% #* Colfax Corp. 80,936 4,401,300 0.1% Columbus McKinnon Corp. 20,228 575,487 0.0% # Comfort Systems USA, Inc. 38,130 585,677 0.0% * Command Security Corp. 4,000 9,000 0.0% #* Commercial Vehicle Group, Inc. 14,342 93,940 0.0% Compx International, Inc. 1,315 14,636 0.0% Con-way, Inc. 76,622 3,323,096 0.0% # Copa Holdings SA Class A 30,461 3,561,500 0.0% * Copart, Inc. 130,555 4,365,759 0.1% Corporate Executive Board Co. (The) 40,085 2,954,265 0.0% Courier Corp. 9,396 127,504 0.0% # Covanta Holding Corp. 167,716 3,701,492 0.0% #* Covenant Transportation Group, Inc. Class A 7,022 145,636 0.0% * CPI Aerostructures, Inc. 5,447 52,019 0.0% * CRA International, Inc. 6,991 209,730 0.0% Crane Co. 52,144 3,251,178 0.0% CSX Corp. 545,870 19,449,348 0.2% #* CTPartners Executive Search, Inc. 1,200 21,900 0.0% Cubic Corp. 27,600 1,331,424 0.0% Cummins, Inc. 48,979 7,159,750 0.1% Curtiss-Wright Corp. 49,769 3,444,513 0.0% Danaher Corp. 204,926 16,476,050 0.2% # Deere & Co. 157,984 13,513,951 0.1% Delta Air Lines, Inc. 460,736 18,535,409 0.2% Deluxe Corp. 96,374 5,859,539 0.1% #* DigitalGlobe, Inc. 75,193 2,149,768 0.0% # Donaldson Co., Inc. 109,139 4,538,000 0.1% Douglas Dynamics, Inc. 34,890 723,270 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) Dover Corp. 121,210 $ 9,628,922 0.1% * Ducommun, Inc. 9,171 242,206 0.0% Dun & Bradstreet Corp. (The) 35,428 4,350,913 0.1% #* DXP Enterprises, Inc. 14,628 969,690 0.0% * Dycom Industries, Inc. 40,238 1,263,071 0.0% # Dynamic Materials Corp. 11,762 214,186 0.0% #* Eagle Bulk Shipping, Inc. 63 1,020 0.0% Eastern Co. (The) 2,746 44,815 0.0% Eaton Corp. P.L.C. 147,536 10,089,987 0.1% #* Echo Global Logistics, Inc. 22,590 590,277 0.0% Ecology and Environment, Inc. Class A 1,746 17,268 0.0% EMCOR Group, Inc. 73,519 3,244,393 0.0% Emerson Electric Co. 313,848 20,105,103 0.2% # Encore Wire Corp. 21,516 816,317 0.0% #* Energy Recovery, Inc. 34,173 156,512 0.0% # EnerSys 57,261 3,595,991 0.0% * Engility Holdings, Inc. 13,090 565,488 0.0% Ennis, Inc. 20,180 299,269 0.0% #* EnPro Industries, Inc. 22,284 1,437,987 0.0% EnviroStar, Inc. 100 260 0.0% Equifax, Inc. 67,403 5,105,103 0.1% # ESCO Technologies, Inc. 30,239 1,149,687 0.0% Espey Manufacturing & Electronics Corp. 1,489 28,291 0.0% * Esterline Technologies Corp. 30,614 3,585,206 0.0% Exelis, Inc. 200,270 3,574,820 0.0% Expeditors International of Washington, Inc. 75,517 3,221,555 0.0% # Exponent, Inc. 11,401 910,028 0.0% # Fastenal Co. 144,879 6,380,471 0.1% Federal Signal Corp. 59,606 846,405 0.0% FedEx Corp. 142,706 23,888,984 0.2% Flowserve Corp. 68,140 4,632,839 0.1% Fluor Corp. 113,197 7,509,489 0.1% # Fortune Brands Home & Security, Inc. 86,024 3,720,538 0.0% Forward Air Corp. 24,843 1,189,234 0.0% #* Franklin Covey Co. 15,563 305,190 0.0% # Franklin Electric Co., Inc. 39,033 1,457,492 0.0% # FreightCar America, Inc. 14,819 488,582 0.0% #* FTI Consulting, Inc. 48,656 1,964,729 0.0% #* Fuel Tech, Inc. 19,248 77,954 0.0% * Furmanite Corp. 36,043 269,602 0.0% G&K Services, Inc. Class A 21,287 1,342,571 0.0% # GATX Corp. 46,839 2,969,593 0.0% * Gencor Industries, Inc. 2,365 22,917 0.0% #* GenCorp, Inc. 39,369 667,698 0.0% #* Generac Holdings, Inc. 60,782 2,755,856 0.0% # General Cable Corp. 45,033 638,118 0.0% General Dynamics Corp. 91,455 12,781,751 0.1% General Electric Co. 2,771,119 71,522,581 0.7% * Genesee & Wyoming, Inc. Class A 54,817 5,273,395 0.1% * Gibraltar Industries, Inc. 26,691 407,038 0.0% # Global Power Equipment Group, Inc. 12,367 168,562 0.0% #* Goldfield Corp. (The) 11,623 22,316 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) # Gorman-Rupp Co. (The) 18,856 $ 598,489 0.0% * GP Strategies Corp. 18,718 620,689 0.0% # Graco, Inc. 58,611 4,600,964 0.1% #* GrafTech International, Ltd. 153,565 658,794 0.0% # Graham Corp. 8,388 280,998 0.0% # Granite Construction, Inc. 40,512 1,495,298 0.0% * Great Lakes Dredge & Dock Corp. 75,986 531,142 0.0% # Greenbrier Cos., Inc. (The) 31,578 1,974,888 0.0% # Griffon Corp. 60,722 746,273 0.0% H&E Equipment Services, Inc. 42,138 1,575,540 0.0% Hardinge, Inc. 10,375 116,408 0.0% # Harsco Corp. 118,127 2,560,993 0.0% #* Hawaiian Holdings, Inc. 49,733 862,370 0.0% * HD Supply Holdings, Inc. 139,274 4,016,662 0.1% # Healthcare Services Group, Inc. 42,738 1,272,738 0.0% # Heartland Express, Inc. 113,808 2,861,133 0.0% # HEICO Corp. 26,470 1,435,733 0.0% HEICO Corp. Class A 34,496 1,578,192 0.0% Heidrick & Struggles International, Inc. 17,692 368,347 0.0% #* Heritage-Crystal Clean, Inc. 4,417 80,124 0.0% # Herman Miller, Inc. 70,882 2,268,224 0.0% * Hertz Global Holdings, Inc. 579,111 12,694,113 0.1% #* Hexcel Corp. 95,026 3,980,639 0.1% #* Hill International, Inc. 26,258 101,881 0.0% Hillenbrand, Inc. 65,159 2,169,143 0.0% # HNI Corp. 40,876 1,906,865 0.0% Honeywell International, Inc. 222,951 21,430,050 0.2% # Houston Wire & Cable Co. 17,436 236,432 0.0% #* Hub Group, Inc. Class A 56,473 2,049,405 0.0% Hubbell, Inc. Class A 4,100 493,804 0.0% Hubbell, Inc. Class B 28,467 3,228,442 0.0% * Hudson Global, Inc. 23,996 81,826 0.0% Huntington Ingalls Industries, Inc. 62,545 6,618,512 0.1% # Hurco Cos., Inc. 7,042 271,328 0.0% * Huron Consulting Group, Inc. 24,115 1,678,645 0.0% * Huttig Building Products, Inc. 2,588 9,394 0.0% # Hyster-Yale Materials Handling, Inc. 11,128 873,437 0.0% #* ICF International, Inc. 19,662 714,517 0.0% IDEX Corp. 65,124 4,878,439 0.1% * IHS, Inc. Class A 20,484 2,684,019 0.0% Illinois Tool Works, Inc. 141,164 12,852,982 0.1% Ingersoll-Rand P.L.C. 139,720 8,749,266 0.1% #* InnerWorkings, Inc. 39,261 356,490 0.0% #* Innovative Solutions & Support, Inc. 10,802 30,138 0.0% # Insperity, Inc. 25,539 806,011 0.0% Insteel Industries, Inc. 19,167 456,941 0.0% * Integrated Electrical Services, Inc. 6,920 54,876 0.0% Interface, Inc. 63,746 1,021,848 0.0% # International Shipholding Corp. 3,805 76,252 0.0% # Intersections, Inc. 13,979 55,916 0.0% ITT Corp. 86,718 3,907,513 0.0% * Jacobs Engineering Group, Inc. 70,729 3,356,091 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) JB Hunt Transport Services, Inc. 67,376 $ 5,374,584 0.1% #* JetBlue Airways Corp. 339,991 3,923,496 0.0% # John Bean Technologies Corp. 28,848 864,575 0.0% # Joy Global, Inc. 89,052 4,686,807 0.1% Kadant, Inc. 7,600 314,184 0.0% Kaman Corp. 47,286 2,036,135 0.0% Kansas City Southern 64,294 7,894,660 0.1% KAR Auction Services, Inc. 146,128 4,436,446 0.1% KBR, Inc. 156,856 2,992,812 0.0% # Kelly Services, Inc. Class A 35,712 629,603 0.0% Kelly Services, Inc. Class B 319 4,825 0.0% # Kennametal, Inc. 82,407 3,181,734 0.0% * Key Technology, Inc. 3,418 45,254 0.0% # Kforce, Inc. 40,430 935,955 0.0% # Kimball International, Inc. Class B 30,534 549,001 0.0% * Kirby Corp. 57,411 6,348,508 0.1% # Knight Transportation, Inc. 109,035 3,190,364 0.0% # Knightsbridge Shipping, Ltd. 61,837 542,929 0.0% Knoll, Inc. 47,579 946,346 0.0% * Korn/Ferry International 53,284 1,488,222 0.0% #* Kratos Defense & Security Solutions, Inc. 78,463 546,887 0.0% L-3 Communications Holdings, Inc. 65,147 7,912,755 0.1% # Landstar System, Inc. 47,497 3,515,253 0.0% * Lawson Products, Inc. 5,743 138,291 0.0% #* Layne Christensen Co. 20,348 146,506 0.0% # LB Foster Co. Class A 10,752 581,576 0.0% Lennox International, Inc. 50,731 4,511,001 0.1% Lincoln Electric Holdings, Inc. 72,229 5,235,158 0.1% # Lindsay Corp. 10,381 910,414 0.0% #* LMI Aerospace, Inc. 9,060 119,411 0.0% Lockheed Martin Corp. 124,691 23,762,364 0.2% LS Starrett Co. (The) Class A 4,692 69,348 0.0% # LSI Industries, Inc. 17,359 124,290 0.0% * Luna Innovations, Inc. 90 122 0.0% * Lydall, Inc. 16,976 525,068 0.0% * Magnetek, Inc. 590 18,331 0.0% #* Manitex International, Inc. 2,000 22,860 0.0% # Manitowoc Co., Inc. (The) 143,578 2,992,166 0.0% Manpowergroup, Inc. 77,601 5,179,867 0.1% Marten Transport, Ltd. 32,819 643,909 0.0% Masco Corp. 288,535 6,367,967 0.1% #* MasTec, Inc. 84,555 2,421,655 0.0% Mastech Holdings, Inc. 1,412 16,591 0.0% Matson, Inc. 48,888 1,392,819 0.0% # Matthews International Corp. Class A 31,620 1,457,050 0.0% # McGrath RentCorp 21,730 793,797 0.0% #* Meritor, Inc. 99,221 1,140,049 0.0% * Mfri, Inc. 3,034 27,670 0.0% * Middleby Corp. (The) 50,854 4,500,579 0.1% # Miller Industries, Inc. 8,825 174,470 0.0% * Mistras Group, Inc. 18,236 300,712 0.0% # Mobile Mini, Inc. 52,937 2,320,229 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) #* Moog, Inc. Class A 42,189 $ 3,229,146 0.0% * Moog, Inc. Class B 3,215 245,337 0.0% * MRC Global, Inc. 108,033 2,271,934 0.0% # MSA Safety, Inc. 31,153 1,790,363 0.0% # MSC Industrial Direct Co., Inc. Class A 44,329 3,589,319 0.0% Mueller Industries, Inc. 62,428 2,026,413 0.0% Mueller Water Products, Inc. Class A 179,624 1,772,889 0.0% # Multi-Color Corp. 14,265 703,265 0.0% * MYR Group, Inc. 30,617 794,205 0.0% # National Presto Industries, Inc. 5,789 365,054 0.0% * Navigant Consulting, Inc. 64,147 987,222 0.0% #* Navistar International Corp. 33,482 1,184,258 0.0% #* NCI Building Systems, Inc. 10,711 212,828 0.0% Nielsen NV 212,086 9,011,534 0.1% # NL Industries, Inc. 32,061 233,725 0.0% NN, Inc. 22,724 568,100 0.0% Nordson Corp. 67,901 5,197,822 0.1% Norfolk Southern Corp. 133,743 14,797,326 0.2% #* Nortek, Inc. 2,779 231,435 0.0% Northrop Grumman Corp. 70,727 9,757,497 0.1% #* Northwest Pipe Co. 9,070 324,525 0.0% #* NOW, Inc. 42,139 1,266,698 0.0% #* Ocean Power Technologies, Inc. 5,515 5,515 0.0% * Old Dominion Freight Line, Inc. 94,938 6,918,132 0.1% # Omega Flex, Inc. 3,648 97,110 0.0% * On Assignment, Inc. 48,276 1,404,832 0.0% * Orbital Sciences Corp. 62,986 1,656,532 0.0% * Orion Energy Systems, Inc. 19,776 113,712 0.0% #* Orion Marine Group, Inc. 13,198 144,650 0.0% Oshkosh Corp. 92,142 4,124,276 0.1% Owens Corning 113,675 3,644,421 0.0% PACCAR, Inc. 148,170 9,678,464 0.1% Pall Corp. 50,016 4,572,463 0.1% #* PAM Transportation Services, Inc. 4,978 213,954 0.0% # Park-Ohio Holdings Corp. 12,147 645,127 0.0% Parker Hannifin Corp. 86,580 10,998,257 0.1% * Patrick Industries, Inc. 16,067 686,382 0.0% #* Patriot Transportation Holding, Inc. 4,366 184,944 0.0% * Pendrell Corp. 103,176 172,304 0.0% Pentair P.L.C. 150,525 10,092,701 0.1% * Performant Financial Corp. 57,241 493,990 0.0% * PGT, Inc. 38,073 358,077 0.0% * Pike Corp. 31,344 374,247 0.0% Pitney Bowes, Inc. 208,997 5,170,586 0.1% #* Plug Power, Inc. 784 3,693 0.0% #* PMFG, Inc. 6,463 33,995 0.0% #* Polypore International, Inc. 32,355 1,421,032 0.0% # Powell Industries, Inc. 11,346 516,583 0.0% #* PowerSecure International, Inc. 21,605 241,328 0.0% Precision Castparts Corp. 34,263 7,561,844 0.1% # Preformed Line Products Co. 4,237 241,467 0.0% Primoris Services Corp. 59,903 1,720,414 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) #* Proto Labs, Inc. 14,859 $ 971,333 0.0% Providence and Worcester Railroad Co. 1,227 21,828 0.0% Quad/Graphics, Inc. 6,566 144,780 0.0% * Quality Distribution, Inc. 29,244 379,002 0.0% # Quanex Building Products Corp. 55,164 1,104,383 0.0% * Quanta Services, Inc. 107,936 3,678,459 0.0% # Raven Industries, Inc. 39,307 996,432 0.0% Raytheon Co. 115,355 11,983,077 0.1% RBC Bearings, Inc. 17,675 1,073,756 0.0% * RCM Technologies, Inc. 7,192 54,228 0.0% #* Real Goods Solar, Inc. Class A 4,310 3,470 0.0% # Regal-Beloit Corp. 46,419 3,294,356 0.0% #* Republic Airways Holdings, Inc. 41,632 521,233 0.0% Republic Services, Inc. 273,381 10,497,830 0.1% Resources Connection, Inc. 43,814 677,803 0.0% #* Rexnord Corp. 95,782 2,830,358 0.0% * Roadrunner Transportation Systems, Inc. 43,233 891,032 0.0% Robert Half International, Inc. 115,914 6,349,769 0.1% Rockwell Automation, Inc. 80,834 9,081,700 0.1% Rockwell Collins, Inc. 98,797 8,313,768 0.1% Rollins, Inc. 71,699 2,285,047 0.0% Roper Industries, Inc. 43,337 6,860,247 0.1% * RPX Corp. 66,511 934,480 0.0% # RR Donnelley & Sons Co. 260,247 4,541,310 0.1% #* Rush Enterprises, Inc. Class A 29,866 1,137,895 0.0% * Rush Enterprises, Inc. Class B 2,881 93,143 0.0% Ryder System, Inc. 75,655 6,693,198 0.1% * Saia, Inc. 33,418 1,638,150 0.0% #* Sensata Technologies Holding NV 77,318 3,773,892 0.0% * Servotronics, Inc. 389 2,494 0.0% SIFCO Industries, Inc. 3,251 110,599 0.0% Simpson Manufacturing Co., Inc. 49,610 1,641,099 0.0% SkyWest, Inc. 44,565 513,389 0.0% * SL Industries, Inc. 4,724 212,580 0.0% Snap-on, Inc. 38,814 5,128,882 0.1% #* SolarCity Corp. 25,000 1,479,500 0.0% Southwest Airlines Co. 508,666 17,538,804 0.2% #* SP Plus Corp. 7,985 174,233 0.0% * Sparton Corp. 7,073 191,678 0.0% * Spirit Aerosystems Holdings, Inc. Class A 102,505 4,032,547 0.1% * Spirit Airlines, Inc. 75,437 5,515,199 0.1% SPX Corp. 45,481 4,311,144 0.1% #* Standard Register Co. (The) 2,977 15,242 0.0% # Standex International Corp. 10,981 947,111 0.0% Stanley Black & Decker, Inc. 117,142 10,969,177 0.1% Steelcase, Inc. Class A 83,274 1,475,615 0.0% * Stericycle, Inc. 40,624 5,118,624 0.1% #* Sterling Construction Co., Inc. 11,349 100,098 0.0% # Sun Hydraulics Corp. 21,927 872,914 0.0% Supreme Industries, Inc. Class A 5,876 39,075 0.0% #* Swift Transportation Co. 165,614 4,090,666 0.1% # TAL International Group, Inc. 40,770 1,758,410 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) #* Taser International, Inc. 32,983 $ 621,400 0.0% * Team, Inc. 18,101 762,776 0.0% * Tecumseh Products Co. 12,472 46,022 0.0% * Teledyne Technologies, Inc. 30,228 3,132,528 0.0% # Tennant Co. 17,853 1,316,302 0.0% # Terex Corp. 117,816 3,389,566 0.0% Tetra Tech, Inc. 74,196 1,989,195 0.0% # Textainer Group Holdings, Ltd. 50,784 1,749,001 0.0% Textron, Inc. 159,725 6,633,379 0.1% * Thermon Group Holdings, Inc. 8,269 201,516 0.0% Timken Co. (The) 78,256 3,364,225 0.0% # Titan International, Inc. 51,879 547,842 0.0% #* Titan Machinery, Inc. 18,690 257,174 0.0% Toro Co. (The) 55,768 3,442,559 0.0% Towers Watson & Co. Class A 35,273 3,890,259 0.0% TransDigm Group, Inc. 33,865 6,333,771 0.1% #* TRC Cos., Inc. 15,862 115,475 0.0% #* Trex Co., Inc. 32,756 1,408,508 0.0% * Trimas Corp. 41,015 1,298,535 0.0% # Trinity Industries, Inc. 205,809 7,349,439 0.1% # Triumph Group, Inc. 50,187 3,494,521 0.0% * TrueBlue, Inc. 33,359 824,634 0.0% * Tutor Perini Corp. 58,859 1,648,641 0.0% # Twin Disc, Inc. 9,800 254,996 0.0% Tyco International, Ltd. 131,362 5,639,371 0.1% * Ultralife Corp. 11,666 36,981 0.0% UniFirst Corp. 15,482 1,727,172 0.0% Union Pacific Corp. 440,988 51,353,053 0.5% * United Continental Holdings, Inc. 309,503 16,344,853 0.2% United Parcel Service, Inc. Class B 316,597 33,214,191 0.3% * United Rentals, Inc. 87,788 9,661,947 0.1% # United Stationers, Inc. 42,474 1,774,139 0.0% United Technologies Corp. 237,550 25,417,850 0.2% # Universal Forest Products, Inc. 17,510 874,975 0.0% # Universal Truckload Services, Inc. 12,449 327,658 0.0% # US Ecology, Inc. 21,698 1,090,975 0.0% #* USA Truck, Inc. 6,922 116,982 0.0% #* USG Corp. 61,275 1,645,847 0.0% #* UTi Worldwide, Inc. 121,384 1,326,727 0.0% # Valmont Industries, Inc. 27,703 3,772,318 0.0% #* Vectrus, Inc. 10,596 258,966 0.0% * Verisk Analytics, Inc. Class A 90,631 5,650,843 0.1% * Veritiv Corp. 2,907 131,135 0.0% * Versar, Inc. 4,038 13,124 0.0% Viad Corp. 22,828 582,342 0.0% * Vicor Corp. 15,288 208,070 0.0% * Virco Manufacturing Corp. 6,445 17,466 0.0% * Volt Information Sciences, Inc. 10,850 89,947 0.0% # VSE Corp. 3,584 216,044 0.0% #* Wabash National Corp. 90,742 934,643 0.0% * WABCO Holdings, Inc. 64,819 6,312,074 0.1% Wabtec Corp. 58,515 5,049,845 0.1% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) Waste Connections, Inc. 130,759 $ 6,524,874 0.1% Waste Management, Inc. 176,023 8,605,764 0.1% # Watsco, Inc. 27,849 2,830,015 0.0% Watsco, Inc. Class B 2,268 232,504 0.0% # Watts Water Technologies, Inc. Class A 31,205 1,891,959 0.0% # Werner Enterprises, Inc. 83,019 2,286,343 0.0% #* Wesco Aircraft Holdings, Inc. 16,489 292,680 0.0% #* WESCO International, Inc. 47,574 3,920,573 0.0% # West Corp. 4,175 133,600 0.0% #* Willdan Group, Inc. 4,404 57,780 0.0% * Willis Lease Finance Corp. 4,420 100,820 0.0% # Woodward, Inc. 61,368 3,142,655 0.0% # WW Grainger, Inc. 36,881 9,102,231 0.1% #* XPO Logistics, Inc. 17,894 714,328 0.0% Xylem, Inc. 105,360 3,830,890 0.0% -------------------- ------------------ Total Industrials 1,437,127,693 13.3% -------------------- ------------------ Information Technology -- (15.9%) #* 3D Systems Corp. 50,584 1,912,075 0.0% Accenture P.L.C. Class A 287,259 23,302,450 0.2% #* ACI Worldwide, Inc. 141,016 2,713,148 0.0% #* Acorn Energy, Inc. 10,523 11,049 0.0% Activision Blizzard, Inc. 477,854 9,533,187 0.1% * Actua Corp. 39,319 739,197 0.0% * Actuate Corp. 39,862 171,008 0.0% * Acxiom Corp. 65,750 1,238,730 0.0% #* ADDvantage Technologies Group, Inc. 3,642 8,777 0.0% * Adobe Systems, Inc. 69,970 4,906,296 0.1% # ADTRAN, Inc. 53,536 1,135,499 0.0% #* Advanced Energy Industries, Inc. 44,479 879,795 0.0% #* Advanced Micro Devices, Inc. 392,735 1,099,658 0.0% # Advent Software, Inc. 57,055 1,971,821 0.0% #* Aehr Test Systems 788 2,041 0.0% * Aetrium, Inc. 207 729 0.0% #* Agilysys, Inc. 31,760 358,888 0.0% * Akamai Technologies, Inc. 68,284 4,117,525 0.1% * Alliance Data Systems Corp. 37,087 10,508,601 0.1% Alliance Fiber Optic Products, Inc. 5,439 70,217 0.0% #* Alpha & Omega Semiconductor, Ltd. 15,468 143,388 0.0% Altera Corp. 90,194 3,099,968 0.0% Amdocs, Ltd. 123,393 5,866,103 0.1% American Software, Inc. Class A 19,865 191,896 0.0% * Amkor Technology, Inc. 146,949 996,314 0.0% Amphenol Corp. Class A 157,409 7,961,747 0.1% * Amtech Systems, Inc. 7,913 83,324 0.0% #* ANADIGICS, Inc. 59,417 42,186 0.0% Analog Devices, Inc. 102,654 5,093,691 0.1% Anixter International, Inc. 27,671 2,356,739 0.0% * ANSYS, Inc. 40,383 3,172,488 0.0% * AOL, Inc. 75,754 3,297,572 0.0% Apple, Inc. 2,331,646 251,817,768 2.4% Applied Materials, Inc. 361,152 7,977,848 0.1% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) * ARRIS Group, Inc. 176,888 $ 5,310,178 0.1% * Arrow Electronics, Inc. 99,165 5,638,522 0.1% #* Ascent Solar Technologies, Inc. 1,429 2,515 0.0% * Aspen Technology, Inc. 83,482 3,082,990 0.0% Astro-Med, Inc. 4,620 61,954 0.0% #* Atmel Corp. 207,877 1,542,447 0.0% * Autobytel, Inc. 267 2,467 0.0% * Autodesk, Inc. 51,159 2,943,689 0.0% Automatic Data Processing, Inc. 183,248 14,986,021 0.2% Avago Technologies, Ltd. 88,426 7,626,742 0.1% * AVG Technologies NV 65,803 1,179,190 0.0% #* Aviat Networks, Inc. 47,169 83,017 0.0% * Avid Technology, Inc. 37,151 373,368 0.0% Avnet, Inc. 124,893 5,401,622 0.1% AVX Corp. 89,161 1,287,485 0.0% # Aware, Inc. 12,087 52,216 0.0% * Axcelis Technologies, Inc. 62,314 135,845 0.0% * AXT, Inc. 24,367 57,506 0.0% # Badger Meter, Inc. 12,975 738,537 0.0% #* Bankrate, Inc. 86,348 937,739 0.0% Bel Fuse, Inc. Class A 1,700 43,180 0.0% Bel Fuse, Inc. Class B 8,861 250,678 0.0% Belden, Inc. 35,767 2,546,253 0.0% * Benchmark Electronics, Inc. 43,736 1,037,418 0.0% Black Box Corp. 13,595 298,954 0.0% # Blackbaud, Inc. 39,693 1,766,339 0.0% #* Blackhawk Network Holdings, Inc. 2,627 90,789 0.0% * Blackhawk Network Holdings, Inc. Class B 38,110 1,272,874 0.0% #* Blucora, Inc. 46,839 793,921 0.0% Booz Allen Hamilton Holding Corp. 94,259 2,483,725 0.0% * Bottomline Technologies de, Inc. 28,928 725,804 0.0% Broadcom Corp. Class A 110,368 4,622,212 0.1% Broadridge Financial Solutions, Inc. 158,819 6,976,919 0.1% * BroadVision, Inc. 3,362 26,762 0.0% Brocade Communications Systems, Inc. 460,643 4,942,699 0.1% Brooks Automation, Inc. 104,493 1,288,399 0.0% * Bsquare Corp. 4,926 19,261 0.0% * BTU International, Inc. 5,073 16,893 0.0% CA, Inc. 395,282 11,486,895 0.1% #* Cabot Microelectronics Corp. 19,315 931,562 0.0% #* CACI International, Inc. Class A 28,582 2,352,013 0.0% #* Cadence Design Systems, Inc. 226,920 4,073,214 0.1% #* CalAmp Corp. 16,958 326,950 0.0% * Calix, Inc. 54,754 591,891 0.0% #* Cardtronics, Inc. 43,143 1,656,260 0.0% #* Cascade Microtech, Inc. 8,576 92,106 0.0% # Cass Information Systems, Inc. 9,249 439,697 0.0% * CDK Global, Inc. 59,316 1,993,018 0.0% CDW Corp. 17,043 525,606 0.0% #* Ceva, Inc. 21,122 344,289 0.0% * Checkpoint Systems, Inc. 41,717 553,167 0.0% #* ChyronHego Corp. 5,535 15,830 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) #* CIBER, Inc. 93,231 $ 304,865 0.0% #* Ciena Corp. 107,724 1,805,454 0.0% #* Cirrus Logic, Inc. 54,217 1,046,388 0.0% Cisco Systems, Inc. 1,778,262 43,514,071 0.4% * Citrix Systems, Inc. 70,795 4,547,163 0.1% #* Clearfield, Inc. 8,284 121,609 0.0% #* Cognex Corp. 69,870 2,764,057 0.0% * Cognizant Technology Solutions Corp. Class A 179,718 8,779,224 0.1% * Coherent, Inc. 24,244 1,579,497 0.0% Cohu, Inc. 18,797 191,729 0.0% Communications Systems, Inc. 6,855 81,095 0.0% #* CommVault Systems, Inc. 21,597 957,611 0.0% Computer Sciences Corp. 189,823 11,465,309 0.1% Computer Task Group, Inc. 12,978 114,206 0.0% Compuware Corp. 178,883 1,815,662 0.0% * comScore, Inc. 7,532 317,398 0.0% Comtech Telecommunications Corp. 21,892 833,428 0.0% * Comverse, Inc. 3,459 75,406 0.0% #* Concur Technologies, Inc. 22,921 2,941,223 0.0% Concurrent Computer Corp. 5,951 42,252 0.0% #* Constant Contact, Inc. 24,536 867,593 0.0% # Convergys Corp. 94,587 1,907,820 0.0% #* Conversant, Inc. 92,902 3,274,795 0.0% * CoreLogic, Inc. 93,931 2,946,615 0.0% Corning, Inc. 426,424 8,711,842 0.1% #* CoStar Group, Inc. 17,409 2,804,416 0.0% * Covisint Corp. 25,089 72,507 0.0% #* Cray, Inc. 29,644 1,027,461 0.0% #* Cree, Inc. 100,922 3,177,025 0.0% #* Crexendo, Inc. 4,054 11,493 0.0% # CSG Systems International, Inc. 38,031 1,008,202 0.0% CSP, Inc. 709 5,651 0.0% CTS Corp. 30,923 568,983 0.0% * CyberOptics Corp. 4,778 43,719 0.0% # Daktronics, Inc. 35,389 471,028 0.0% #* Datalink Corp. 17,533 221,792 0.0% #* Dealertrack Technologies, Inc. 42,783 2,012,940 0.0% #* Demand Media, Inc. 8,535 60,086 0.0% * Dice Holdings, Inc. 100,928 1,006,252 0.0% # Diebold, Inc. 48,326 1,712,190 0.0% #* Digi International, Inc. 22,616 187,260 0.0% # Digimarc Corp. 4,419 128,107 0.0% * Digital River, Inc. 37,018 946,550 0.0% * Diodes, Inc. 48,728 1,258,644 0.0% # Dolby Laboratories, Inc. Class A 39,752 1,666,404 0.0% * Dot Hill Systems Corp. 26,438 104,430 0.0% * DSP Group, Inc. 16,722 162,036 0.0% DST Systems, Inc. 48,201 4,644,166 0.1% #* DTS, Inc. 17,496 521,031 0.0% # EarthLink Holdings Corp. 107,415 384,546 0.0% * eBay, Inc. 254,864 13,380,360 0.1% # Ebix, Inc. 29,226 431,084 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) #* Echelon Corp. 6,990 $ 14,679 0.0% * EchoStar Corp. Class A 43,970 2,054,718 0.0% * Edgewater Technology, Inc. 5,900 41,654 0.0% #* Elecsys Corp. 58 595 0.0% # Electro Rent Corp. 22,444 342,047 0.0% # Electro Scientific Industries, Inc. 23,740 168,554 0.0% * Electronic Arts, Inc. 122,671 5,025,831 0.1% #* Electronics for Imaging, Inc. 45,694 2,089,130 0.0% #* Ellie Mae, Inc. 16,863 647,202 0.0% #* eMagin Corp. 9,611 25,469 0.0% EMC Corp. 656,260 18,854,350 0.2% * Emcore Corp. 17,832 92,013 0.0% * Emulex Corp. 101,483 574,394 0.0% #* EnerNOC, Inc. 33,682 497,483 0.0% * Entegris, Inc. 147,754 2,006,499 0.0% #* Entropic Communications, Inc. 91,723 229,308 0.0% * Envestnet, Inc. 6,963 309,296 0.0% #* EPAM Systems, Inc. 42,995 2,052,581 0.0% # EPIQ Systems, Inc. 34,541 554,038 0.0% #* ePlus, Inc. 6,933 423,398 0.0% # Equinix, Inc. 16,279 3,400,683 0.0% #* Euronet Worldwide, Inc. 51,903 2,785,634 0.0% #* Exar Corp. 44,266 422,740 0.0% * ExlService Holdings, Inc. 23,422 655,582 0.0% * Extreme Networks, Inc. 87,771 315,098 0.0% * F5 Networks, Inc. 35,240 4,333,815 0.1% #* Fabrinet 26,758 487,263 0.0% * Facebook, Inc. Class A 614,053 46,047,834 0.4% # FactSet Research Systems, Inc. 41,765 5,489,592 0.1% # Fair Isaac Corp. 36,336 2,263,733 0.0% #* Fairchild Semiconductor International, Inc. 155,133 2,381,292 0.0% #* FalconStor Software, Inc. 21,742 24,568 0.0% #* FARO Technologies, Inc. 11,460 641,760 0.0% FEI Co. 21,767 1,834,523 0.0% Fidelity National Information Services, Inc. 245,751 14,349,401 0.1% #* Finisar Corp. 87,719 1,466,662 0.0% #* First Solar, Inc. 105,227 6,197,870 0.1% * Fiserv, Inc. 145,670 10,121,152 0.1% * FleetCor Technologies, Inc. 55,064 8,290,436 0.1% FLIR Systems, Inc. 82,715 2,773,434 0.0% * FormFactor, Inc. 64,345 512,830 0.0% Forrester Research, Inc. 15,969 643,231 0.0% * Fortinet, Inc. 80,829 2,105,595 0.0% #* Freescale Semiconductor, Ltd. 95,202 1,893,568 0.0% * Frequency Electronics, Inc. 5,169 58,668 0.0% * Gartner, Inc. 57,888 4,672,140 0.1% * Genpact, Ltd. 182,432 3,201,682 0.0% * GigOptix, Inc. 1,174 1,468 0.0% * Global Cash Access Holdings, Inc. 98,986 721,608 0.0% Global Payments, Inc. 82,530 6,643,665 0.1% # Globalscape, Inc. 7,843 19,451 0.0% * Google, Inc. Class A 68,974 39,168,265 0.4% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) * Google, Inc. Class C 68,974 $ 38,561,984 0.4% #* GSE Systems, Inc. 10,738 16,214 0.0% * GSI Group, Inc. 25,444 326,955 0.0% * GSI Technology, Inc. 11,682 56,190 0.0% * GTT Communications, Inc. 23,600 306,328 0.0% #* Guidance Software, Inc. 5,853 39,391 0.0% #* Guidewire Software, Inc. 4,547 227,077 0.0% Hackett Group, Inc. (The) 30,512 213,889 0.0% #* Harmonic, Inc. 131,379 876,298 0.0% Harris Corp. 67,326 4,685,890 0.1% # Heartland Payment Systems, Inc. 42,741 2,207,573 0.0% Hewlett-Packard Co. 1,245,191 44,677,453 0.4% #* HomeAway, Inc. 51,066 1,782,203 0.0% * Hutchinson Technology, Inc. 25,771 92,002 0.0% IAC/InterActiveCorp 85,223 5,768,745 0.1% * ID Systems, Inc. 7,118 53,385 0.0% * Identiv, Inc. 2,956 27,639 0.0% * IEC Electronics Corp. 5,002 24,760 0.0% #* iGATE Corp. 68,225 2,527,736 0.0% * II-VI, Inc. 62,581 844,218 0.0% #* Imation Corp. 27,305 80,004 0.0% #* Immersion Corp. 9,931 83,619 0.0% * Infinera Corp. 91,317 1,326,836 0.0% * Informatica Corp. 59,365 2,116,956 0.0% * Ingram Micro, Inc. Class A 163,630 4,391,829 0.1% * Innodata, Inc. 13,032 34,404 0.0% * Inphi Corp. 15,287 236,643 0.0% * Insight Enterprises, Inc. 48,443 1,102,078 0.0% * Integrated Device Technology, Inc. 145,003 2,379,499 0.0% # Integrated Silicon Solution, Inc. 37,728 512,346 0.0% Intel Corp. 2,321,362 78,949,522 0.7% #* Intellicheck Mobilisa, Inc. 514 1,928 0.0% #* Interactive Intelligence Group, Inc. 6,712 323,921 0.0% # InterDigital, Inc. 46,307 2,288,955 0.0% #* Internap Network Services Corp. 47,600 381,276 0.0% International Business Machines Corp. 434,334 71,404,510 0.7% * International Rectifier Corp. 79,955 3,179,810 0.0% * Interphase Corp. 2,397 7,023 0.0% Intersil Corp. Class A 138,626 1,842,340 0.0% * inTEST Corp. 1,100 4,796 0.0% #* Intevac, Inc. 16,827 124,520 0.0% * IntraLinks Holdings, Inc. 44,662 385,880 0.0% * IntriCon Corp. 2,604 15,963 0.0% Intuit, Inc. 123,403 10,860,698 0.1% #* Inuvo, Inc. 773 1,036 0.0% #* InvenSense, Inc. 14,754 239,162 0.0% #* IPG Photonics Corp. 42,610 3,128,000 0.0% * Iteris, Inc. 3,700 6,438 0.0% #* Itron, Inc. 42,093 1,638,680 0.0% #* Ixia 53,268 512,971 0.0% IXYS Corp. 36,046 420,657 0.0% # j2 Global, Inc. 49,063 2,653,818 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) Jabil Circuit, Inc. 222,302 $ 4,657,227 0.1% Jack Henry & Associates, Inc. 91,505 5,473,829 0.1% #* JDS Uniphase Corp. 175,850 2,366,941 0.0% Juniper Networks, Inc. 235,211 4,955,896 0.1% #* Kemet Corp. 43,819 210,331 0.0% * Key Tronic Corp. 8,234 67,683 0.0% KLA-Tencor Corp. 73,379 5,807,948 0.1% #* Knowles Corp. 53,836 1,047,649 0.0% * Kofax, Ltd. 8,735 55,467 0.0% #* Kopin Corp. 52,846 200,815 0.0% * Kulicke & Soffa Industries, Inc. 96,294 1,388,559 0.0% #* KVH Industries, Inc. 14,698 189,898 0.0% Lam Research Corp. 124,245 9,673,716 0.1% * Lattice Semiconductor Corp. 108,900 730,719 0.0% Leidos Holdings, Inc. 90,950 3,326,041 0.0% # Lexmark International, Inc. Class A 99,929 4,312,936 0.1% * LGL Group, Inc. (The) 964 3,654 0.0% #* Limelight Networks, Inc. 80,422 196,230 0.0% Linear Technology Corp. 156,455 6,702,532 0.1% * LinkedIn Corp. Class A 18,979 4,345,432 0.1% #* Lionbridge Technologies, Inc. 50,577 244,287 0.0% #* Liquidity Services, Inc. 2,998 38,314 0.0% Littelfuse, Inc. 17,754 1,731,725 0.0% #* LoJack Corp. 18,587 52,415 0.0% * Magnachip Semiconductor Corp. 38,971 433,747 0.0% * Manhattan Associates, Inc. 88,179 3,536,860 0.0% # ManTech International Corp. Class A 28,027 789,240 0.0% Marchex, Inc. Class B 18,835 72,138 0.0% Marvell Technology Group, Ltd. 273,445 3,675,101 0.1% MasterCard, Inc. Class A 457,872 38,346,780 0.4% #* Mattersight Corp. 2,290 12,412 0.0% #* Mattson Technology, Inc. 22,568 60,031 0.0% Maxim Integrated Products, Inc. 155,595 4,565,157 0.1% MAXIMUS, Inc. 87,517 4,241,074 0.1% * MaxLinear, Inc. Class A 9,110 64,590 0.0% #* Maxwell Technologies, Inc. 30,742 358,452 0.0% # Mentor Graphics Corp. 118,852 2,518,474 0.0% #* Mercury Systems, Inc. 24,032 335,967 0.0% # Mesa Laboratories, Inc. 2,478 189,245 0.0% Methode Electronics, Inc. 33,723 1,328,012 0.0% Micrel, Inc. 44,629 541,796 0.0% # Microchip Technology, Inc. 77,957 3,360,726 0.0% * Micron Technology, Inc. 743,836 24,613,533 0.2% * Microsemi Corp. 98,697 2,573,031 0.0% Microsoft Corp. 2,983,192 140,060,864 1.3% MKS Instruments, Inc. 58,273 2,121,137 0.0% MOCON, Inc. 3,434 52,987 0.0% #* ModusLink Global Solutions, Inc. 27,305 95,568 0.0% #* MoneyGram International, Inc. 22,061 189,725 0.0% Monolithic Power Systems, Inc. 27,993 1,237,011 0.0% Monotype Imaging Holdings, Inc. 31,633 905,020 0.0% #* Monster Worldwide, Inc. 116,442 449,466 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) #* MoSys, Inc. 27,600 $ 74,244 0.0% Motorola Solutions, Inc. 107,763 6,950,713 0.1% #* Move, Inc. 26,766 560,748 0.0% # MTS Systems Corp. 17,126 1,130,487 0.0% * Multi-Fineline Electronix, Inc. 19,220 195,083 0.0% #* Nanometrics, Inc. 21,470 290,704 0.0% * NAPCO Security Technologies, Inc. 8,159 34,921 0.0% National Instruments Corp. 100,630 3,187,958 0.0% * NCI, Inc. Class A 5,008 50,981 0.0% * NCR Corp. 176,279 4,877,640 0.1% * NeoPhotonics Corp. 1,440 4,666 0.0% NetApp, Inc. 193,601 8,286,123 0.1% * NETGEAR, Inc. 39,981 1,360,953 0.0% * Netlist, Inc. 11,100 10,130 0.0% #* Netscout Systems, Inc. 38,043 1,402,265 0.0% #* NetSuite, Inc. 10,679 1,160,380 0.0% #* NeuStar, Inc. Class A 51,089 1,349,260 0.0% * Newport Corp. 42,537 760,987 0.0% NIC, Inc. 22,413 413,072 0.0% #* Novatel Wireless, Inc. 23,600 67,260 0.0% #* Nuance Communications, Inc. 288,196 4,446,864 0.1% #* Numerex Corp. Class A 7,300 95,192 0.0% NVIDIA Corp. 437,793 8,554,475 0.1% #* Oclaro, Inc. 55,087 86,487 0.0% * OmniVision Technologies, Inc. 52,695 1,411,172 0.0% * ON Semiconductor Corp. 420,162 3,483,143 0.0% #* Onvia, Inc. 442 1,927 0.0% Oplink Communications, Inc. 19,833 413,518 0.0% Optical Cable Corp. 3,696 17,149 0.0% Oracle Corp. 1,380,511 53,908,955 0.5% * OSI Systems, Inc. 16,086 1,140,176 0.0% #* Palo Alto Networks, Inc. 29,800 3,149,860 0.0% * Pandora Media, Inc. 76,987 1,484,309 0.0% * PAR Technology Corp. 8,654 44,473 0.0% Park Electrochemical Corp. 18,914 487,981 0.0% #* Parkervision, Inc. 2,905 3,806 0.0% Paychex, Inc. 233,670 10,968,470 0.1% PC Connection, Inc. 18,315 436,813 0.0% PC-Tel, Inc. 12,027 92,608 0.0% * PCM, Inc. 7,619 73,600 0.0% * PDF Solutions, Inc. 18,469 239,543 0.0% Pegasystems, Inc. 26,499 574,233 0.0% Perceptron, Inc. 7,250 73,008 0.0% * Perficient, Inc. 32,938 546,112 0.0% * Pericom Semiconductor Corp. 20,846 227,847 0.0% #* Photronics, Inc. 53,760 483,302 0.0% #* Planar Systems, Inc. 9,180 33,232 0.0% Plantronics, Inc. 37,283 1,933,869 0.0% * Plexus Corp. 38,569 1,594,828 0.0% * PMC-Sierra, Inc. 189,227 1,474,078 0.0% * Polycom, Inc. 154,045 2,014,909 0.0% # Power Integrations, Inc. 23,948 1,206,021 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) #* PRGX Global, Inc. 24,971 $ 132,097 0.0% #* Procera Networks, Inc. 13,749 102,980 0.0% * Progress Software Corp. 51,253 1,327,453 0.0% * PTC, Inc. 111,762 4,263,720 0.1% QAD, Inc. Class A 5,894 126,780 0.0% QAD, Inc. Class B 1,959 36,242 0.0% * QLogic Corp. 87,439 1,032,655 0.0% QUALCOMM, Inc. 411,597 32,314,480 0.3% * Qualstar Corp. 3,826 4,706 0.0% #* Quantum Corp. 104,104 133,253 0.0% #* QuinStreet, Inc. 30,209 122,346 0.0% * Qumu Corp. 6,460 96,642 0.0% #* Rackspace Hosting, Inc. 156,646 6,008,941 0.1% * Radisys Corp. 20,449 51,123 0.0% #* Rambus, Inc. 90,234 1,033,179 0.0% #* RealD, Inc. 33,877 383,488 0.0% * RealNetworks, Inc. 129,142 891,080 0.0% #* RealPage, Inc. 20,403 405,408 0.0% * Red Hat, Inc. 51,609 3,040,802 0.0% Reis, Inc. 6,081 142,295 0.0% #* Relm Wireless Corp. 1,238 6,871 0.0% #* Remark Media, Inc. 1,020 4,937 0.0% # RF Industries, Ltd. 4,931 22,436 0.0% #* RF Micro Devices, Inc. 252,604 3,286,378 0.0% # Richardson Electronics, Ltd. 9,355 93,644 0.0% #* Rightside Group, Ltd. 8,535 80,826 0.0% * Riverbed Technology, Inc. 110,153 2,091,805 0.0% #* Rofin-Sinar Technologies, Inc. 25,306 566,601 0.0% * Rogers Corp. 19,222 1,314,208 0.0% #* Rosetta Stone, Inc. 20,764 198,711 0.0% * Rovi Corp. 105,060 2,193,653 0.0% #* Rubicon Technology, Inc. 18,250 80,848 0.0% #* Rudolph Technologies, Inc. 28,723 252,188 0.0% * Saba Software, Inc. 10,919 146,315 0.0% * Salesforce.com, Inc. 135,290 8,657,207 0.1% SanDisk Corp. 175,868 16,556,214 0.2% * Sanmina Corp. 98,838 2,477,869 0.0% #* Sapient Corp. 152,966 2,649,371 0.0% #* ScanSource, Inc. 29,049 1,109,091 0.0% Science Applications International Corp. 55,369 2,708,098 0.0% #* Seachange International, Inc. 35,007 236,647 0.0% # Seagate Technology P.L.C. 204,877 12,872,422 0.1% * Semtech Corp. 45,330 1,150,475 0.0% * ServiceNow, Inc. 24,300 1,650,699 0.0% #* ServiceSource International, Inc. 5,015 19,157 0.0% #* Sevcon, Inc. 613 4,665 0.0% * ShoreTel, Inc. 54,109 437,742 0.0% #* Shutterstock, Inc. 14,654 1,139,495 0.0% * Sigma Designs, Inc. 30,115 120,159 0.0% #* Silicon Graphics International Corp. 18,836 163,496 0.0% * Silicon Image, Inc. 72,830 390,369 0.0% * Silicon Laboratories, Inc. 32,884 1,499,182 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) Skyworks Solutions, Inc. 187,419 $ 10,915,283 0.1% #* Smith Micro Software, Inc. 22,674 22,221 0.0% * SMTC Corp. 10,077 17,736 0.0% * SolarWinds, Inc. 43,617 2,073,988 0.0% Solera Holdings, Inc. 66,012 3,429,323 0.0% * Sonus Networks, Inc. 242,235 840,555 0.0% #* Spansion, Inc. Class A 59,964 1,234,059 0.0% #* Speed Commerce, Inc. 23,259 69,079 0.0% #* SS&C Technologies Holdings, Inc. 75,258 3,636,467 0.1% * Stamps.com, Inc. 13,952 514,829 0.0% * StarTek, Inc. 8,170 61,438 0.0% #* Stratasys, Ltd. 36,074 4,341,867 0.1% #* SunEdison, Inc. 205,115 4,001,794 0.1% #* SunPower Corp. 104,563 3,329,286 0.0% * Super Micro Computer, Inc. 43,745 1,398,090 0.0% * support.com, Inc. 43,901 93,509 0.0% #* Sykes Enterprises, Inc. 53,406 1,150,365 0.0% Symantec Corp. 559,622 13,889,818 0.1% #* Synaptics, Inc. 36,543 2,500,637 0.0% #* Synchronoss Technologies, Inc. 37,467 1,935,920 0.0% # SYNNEX Corp. 48,950 3,386,361 0.0% * Synopsys, Inc. 115,885 4,748,967 0.1% #* Syntel, Inc. 30,539 2,644,983 0.0% * Tableau Software, Inc. Class A 200 16,518 0.0% #* Take-Two Interactive Software, Inc. 164,640 4,354,728 0.1% #* Tangoe, Inc. 5,369 78,763 0.0% TE Connectivity, Ltd. 176,607 10,795,986 0.1% * Tech Data Corp. 46,626 2,784,505 0.0% #* TeleCommunication Systems, Inc. Class A 44,803 129,033 0.0% #* Telenav, Inc. 34,314 247,747 0.0% * TeleTech Holdings, Inc. 43,342 1,118,657 0.0% #* Teradata Corp. 117,799 4,985,254 0.1% Teradyne, Inc. 196,904 3,623,034 0.1% # Tessco Technologies, Inc. 6,747 214,217 0.0% Tessera Technologies, Inc. 52,636 1,599,608 0.0% Texas Instruments, Inc. 382,705 19,005,130 0.2% TheStreet, Inc. 10,517 24,084 0.0% #* TIBCO Software, Inc. 131,576 3,074,931 0.0% #* TiVo, Inc. 45,837 598,173 0.0% Total System Services, Inc. 177,266 5,989,818 0.1% Transact Technologies, Inc. 5,192 29,750 0.0% * Travelzoo, Inc. 2,163 28,314 0.0% * Trimble Navigation, Ltd. 85,222 2,289,063 0.0% * Trio Tech International 1,525 5,871 0.0% * TriQuint Semiconductor, Inc. 195,803 4,235,219 0.1% * TSR, Inc. 210 689 0.0% #* TTM Technologies, Inc. 86,907 600,527 0.0% #* Twitter, Inc. 47,800 1,982,266 0.0% #* Tyler Technologies, Inc. 26,035 2,913,837 0.0% # Ubiquiti Networks, Inc. 24,335 870,463 0.0% #* Ultimate Software Group, Inc. (The) 10,703 1,610,909 0.0% * Ultra Clean Holdings, Inc. 25,327 222,371 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) #* Ultratech, Inc. 29,078 $ 556,262 0.0% #* Unisys Corp. 35,405 907,784 0.0% United Online, Inc. 12,987 145,714 0.0% * Universal Security Instruments, Inc. 1,135 7,037 0.0% * Unwired Planet, Inc. 42,677 66,149 0.0% #* USA Technologies, Inc. 15,296 26,615 0.0% * UTStarcom Holdings Corp. 13,753 34,658 0.0% * Vantiv, Inc. Class A 128,509 3,973,498 0.1% #* Veeco Instruments, Inc. 42,670 1,535,693 0.0% * VeriFone Systems, Inc. 110,107 4,102,587 0.1% * Verint Systems, Inc. 54,712 3,145,393 0.0% #* VeriSign, Inc. 49,085 2,933,320 0.0% #* ViaSat, Inc. 28,385 1,778,036 0.0% * Viasystems Group, Inc. 15,052 238,875 0.0% # Vicon Industries, Inc. 600 954 0.0% * Video Display Corp. 3,612 10,655 0.0% #* Virtusa Corp. 22,068 904,347 0.0% Visa, Inc. Class A 152,055 36,710,639 0.4% # Vishay Intertechnology, Inc. 136,588 1,845,304 0.0% * Vishay Precision Group, Inc. 12,209 207,431 0.0% #* VistaPrint NV 23,086 1,543,530 0.0% #* VMware, Inc. Class A 17,754 1,483,702 0.0% #* Wave Systems Corp. Class A 475 556 0.0% Wayside Technology Group, Inc. 2,300 39,790 0.0% #* Web.com Group, Inc. 31,944 655,810 0.0% #* WebMD Health Corp. 19,469 830,937 0.0% * Westell Technologies, Inc. Class A 44,422 59,525 0.0% Western Digital Corp. 166,379 16,366,702 0.2% # Western Union Co. (The) 294,053 4,987,139 0.1% * WEX, Inc. 34,062 3,868,081 0.1% * Wireless Telecom Group, Inc. 3,316 8,257 0.0% #* Workday, Inc. Class A 18,200 1,737,736 0.0% * Xcerra Corp. 41,824 355,086 0.0% Xerox Corp. 951,992 12,642,454 0.1% Xilinx, Inc. 111,123 4,942,751 0.1% * XO Group, Inc. 24,719 314,673 0.0% * Yahoo!, Inc. 161,608 7,442,048 0.1% #* Yelp, Inc. 8,973 538,380 0.0% * Zebra Technologies Corp. Class A 39,815 2,936,356 0.0% #* Zillow, Inc. Class A 13,590 1,477,641 0.0% #* Zix Corp. 44,261 146,061 0.0% #* Zynga, Inc. Class A 661,522 1,686,881 0.0% -------------------- ------------------ Total Information Technology 1,911,788,015 17.7% -------------------- ------------------ Materials -- (4.5%) # A Schulman, Inc. 28,785 1,019,277 0.0% * AEP Industries, Inc. 4,361 200,562 0.0% Air Products & Chemicals, Inc. 59,765 8,047,955 0.1% Airgas, Inc. 56,831 6,338,930 0.1% # Albemarle Corp. 75,025 4,379,959 0.0% Alcoa, Inc. 716,714 12,012,127 0.1% Allegheny Technologies, Inc. 114,782 3,770,589 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Materials -- (Continued) #* Allied Nevada Gold Corp. 61,549 $ 85,553 0.0% #* AM Castle & Co. 20,061 147,448 0.0% * American Biltrite, Inc. 17 7,565 0.0% # American Vanguard Corp. 29,848 344,446 0.0% # Ampco-Pittsburgh Corp. 7,591 165,408 0.0% Aptargroup, Inc. 58,934 3,668,052 0.0% Ashland, Inc. 60,273 6,513,703 0.1% # Avery Dennison Corp. 107,483 5,035,579 0.1% Axiall Corp. 78,893 3,179,388 0.0% # Balchem Corp. 23,292 1,506,992 0.0% Ball Corp. 111,356 7,174,667 0.1% Bemis Co., Inc. 107,051 4,118,252 0.0% * Berry Plastics Group, Inc. 69,688 1,813,282 0.0% * Boise Cascade Co. 8,680 313,001 0.0% Cabot Corp. 64,308 2,985,820 0.0% * Calgon Carbon Corp. 48,657 1,023,257 0.0% Carpenter Technology Corp. 56,975 2,851,599 0.0% Celanese Corp. Series A 110,821 6,508,517 0.1% * Century Aluminum Co. 104,407 3,057,037 0.0% CF Industries Holdings, Inc. 74,584 19,391,840 0.2% Chase Corp. 5,531 198,397 0.0% * Chemtura Corp. 106,726 2,485,649 0.0% * Clearwater Paper Corp. 23,624 1,520,204 0.0% # Cliffs Natural Resources, Inc. 211,131 2,371,001 0.0% #* Codexis, Inc. 5,607 14,354 0.0% #* Coeur Mining, Inc. 77,841 288,012 0.0% Commercial Metals Co. 140,340 2,426,479 0.0% Compass Minerals International, Inc. 51,506 4,413,034 0.0% #* Contango ORE, Inc. 833 6,456 0.0% * Continental Materials Corp. 268 4,339 0.0% * Core Molding Technologies, Inc. 5,580 74,214 0.0% * Crown Holdings, Inc. 76,505 3,666,885 0.0% Cytec Industries, Inc. 89,066 4,153,148 0.0% # Deltic Timber Corp. 6,755 439,683 0.0% Domtar Corp. 73,158 3,004,599 0.0% Dow Chemical Co. (The) 523,014 25,836,892 0.2% Eagle Materials, Inc. 54,322 4,749,372 0.1% Eastman Chemical Co. 152,106 12,287,123 0.1% Ecolab, Inc. 89,854 9,994,460 0.1% EI du Pont de Nemours & Co. 324,904 22,467,112 0.2% #* Ferro Corp. 196,259 2,574,918 0.0% #* Flotek Industries, Inc. 51,317 1,137,185 0.0% FMC Corp. 85,279 4,890,751 0.1% Freeport-McMoRan, Inc. 570,861 16,269,538 0.2% Friedman Industries, Inc. 5,521 42,180 0.0% FutureFuel Corp. 42,155 561,505 0.0% #* General Moly, Inc. 63,899 42,173 0.0% Globe Specialty Metals, Inc. 52,261 983,029 0.0% * Graphic Packaging Holding Co. 448,632 5,441,906 0.1% Greif, Inc. Class A 27,616 1,216,761 0.0% Greif, Inc. Class B 14,223 714,279 0.0% # Hawkins, Inc. 7,394 284,743 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Materials -- (Continued) # Haynes International, Inc. 15,183 $ 705,858 0.0% # HB Fuller Co. 45,971 1,929,403 0.0% #* Headwaters, Inc. 84,158 1,068,807 0.0% # Hecla Mining Co. 247,286 539,083 0.0% #* Horsehead Holding Corp. 57,486 903,105 0.0% Huntsman Corp. 305,564 7,455,762 0.1% Innophos Holdings, Inc. 24,256 1,382,592 0.0% # Innospec, Inc. 22,052 890,239 0.0% International Flavors & Fragrances, Inc. 39,240 3,890,646 0.0% International Paper Co. 218,811 11,076,213 0.1% #* Intrepid Potash, Inc. 65,369 879,213 0.0% # Kaiser Aluminum Corp. 16,078 1,118,225 0.0% * KapStone Paper and Packaging Corp. 147,512 4,537,469 0.0% # KMG Chemicals, Inc. 9,500 168,150 0.0% # Koppers Holdings, Inc. 16,567 654,065 0.0% * Kraton Performance Polymers, Inc. 32,238 576,738 0.0% # Kronos Worldwide, Inc. 56,104 754,038 0.0% * Landec Corp. 30,861 388,540 0.0% #* Louisiana-Pacific Corp. 151,050 2,205,330 0.0% * LSB Industries, Inc. 26,134 980,809 0.0% LyondellBasell Industries NV Class A 195,033 17,870,874 0.2% # Martin Marietta Materials, Inc. 56,358 6,589,377 0.1% Materion Corp. 29,127 1,149,060 0.0% #* McEwen Mining, Inc. 136,545 169,316 0.0% MeadWestvaco Corp. 130,601 5,768,646 0.1% * Mercer International, Inc. 43,784 550,803 0.0% # Minerals Technologies, Inc. 34,848 2,673,190 0.0% #* Mines Management, Inc. 4,267 2,219 0.0% #* Molycorp, Inc. 10,678 14,736 0.0% Monsanto Co. 157,271 18,092,456 0.2% Mosaic Co. (The) 148,568 6,583,048 0.1% # Myers Industries, Inc. 42,795 639,357 0.0% Neenah Paper, Inc. 15,917 971,096 0.0% # NewMarket Corp. 11,952 4,637,496 0.1% Newmont Mining Corp. 326,628 6,127,541 0.1% # Noranda Aluminum Holding Corp. 47,884 211,168 0.0% * Northern Technologies International Corp. 2,180 40,810 0.0% Nucor Corp. 229,411 12,401,959 0.1% # Olin Corp. 96,399 2,336,712 0.0% # Olympic Steel, Inc. 10,794 217,175 0.0% # OM Group, Inc. 28,483 741,412 0.0% #* OMNOVA Solutions, Inc. 37,968 266,915 0.0% * Owens-Illinois, Inc. 230,455 5,938,825 0.1% Packaging Corp. of America 72,239 5,206,987 0.1% * Penford Corp. 9,592 180,809 0.0% PH Glatfelter Co. 39,283 991,110 0.0% # PolyOne Corp. 102,685 3,800,372 0.0% PPG Industries, Inc. 51,743 10,539,532 0.1% Praxair, Inc. 135,907 17,122,923 0.2% # Quaker Chemical Corp. 10,595 869,638 0.0% Reliance Steel & Aluminum Co. 75,111 5,068,490 0.1% #* Rentech, Inc. 153,569 244,175 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Materials -- (Continued) * Resolute Forest Products, Inc. 5,912 $ 109,727 0.0% Rock-Tenn Co. Class A 120,541 6,165,672 0.1% Rockwood Holdings, Inc. 59,647 4,587,451 0.0% # Royal Gold, Inc. 55,315 3,161,252 0.0% RPM International, Inc. 125,399 5,680,575 0.1% * RTI International Metals, Inc. 27,121 638,700 0.0% # Schnitzer Steel Industries, Inc. Class A 41,002 965,597 0.0% Schweitzer-Mauduit International, Inc. 26,989 1,162,146 0.0% # Scotts Miracle-Gro Co. (The) Class A 74,031 4,385,596 0.0% Sealed Air Corp. 164,108 5,948,915 0.1% #* Senomyx, Inc. 8,376 66,338 0.0% # Sensient Technologies Corp. 53,121 3,143,701 0.0% Sherwin-Williams Co. (The) 38,850 8,918,406 0.1% Sigma-Aldrich Corp. 45,675 6,207,689 0.1% Silgan Holdings, Inc. 59,628 2,931,312 0.0% #* Solitario Exploration & Royalty Corp. 1,700 1,717 0.0% Sonoco Products Co. 97,430 3,981,964 0.0% # Southern Copper Corp. 73,734 2,122,065 0.0% Steel Dynamics, Inc. 249,747 5,746,678 0.1% Stepan Co. 14,828 656,584 0.0% #* Stillwater Mining Co. 107,140 1,406,748 0.0% * SunCoke Energy, Inc. 82,400 1,969,360 0.0% Synalloy Corp. 4,755 76,793 0.0% * Taminco Corp. 1,587 41,087 0.0% TimkenSteel Corp. 40,213 1,631,844 0.0% #* Trecora Resources 13,745 180,747 0.0% Tredegar Corp. 13,871 263,826 0.0% Tronox, Ltd. Class A 64,056 1,548,874 0.0% # United States Lime & Minerals, Inc. 3,372 236,411 0.0% # United States Steel Corp. 248,639 9,955,506 0.1% #* Universal Stainless & Alloy Products, Inc. 5,675 145,904 0.0% # US Silica Holdings, Inc. 46,246 2,076,445 0.0% # Valhi, Inc. 66,024 390,862 0.0% Valspar Corp. (The) 63,347 5,204,589 0.1% #* Verso Paper Corp. 12,902 37,416 0.0% Vulcan Materials Co. 89,026 5,493,794 0.1% # Walter Energy, Inc. 54,392 131,085 0.0% # Wausau Paper Corp. 41,597 411,394 0.0% # Westlake Chemical Corp. 70,852 4,998,609 0.1% Worthington Industries, Inc. 75,774 2,928,665 0.0% * WR Grace & Co. 62,027 5,867,754 0.1% # Zep, Inc. 15,790 253,587 0.0% -------------------- ------------------ Total Materials 532,177,083 4.9% -------------------- ------------------ Other -- (0.0%) (Degree)* Brooklyn Federal Bancorp, Inc. Escrow Shares 2,293 -- 0.0% (Degree)* Concord Camera Corp. Escrow Shares 405 -- 0.0% (Degree)* Gerber Scientific, Inc. Escrow Shares 15,579 -- 0.0% (Degree)* Softbrands, Inc. Escrow Shares 3,200 -- 0.0% -------------------- ------------------ Total Other -- 0.0% -------------------- ------------------ U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Real Estate Investment Trusts -- (0.0%) * CareTrust REIT, Inc. 17,002 $ 264,041 0.0% -------------------- ------------------ Telecommunication Services -- (2.4%) #* 8x8, Inc. 51,971 408,492 0.0% #* Alaska Communications Systems Group, Inc. 30,523 41,206 0.0% * Alteva 3,521 24,999 0.0% AT&T, Inc. 3,470,117 120,898,876 1.1% # Atlantic Tele-Network, Inc. 15,815 1,062,610 0.0% #* Boingo Wireless, Inc. 4,724 33,115 0.0% CenturyLink, Inc. 249,462 10,347,684 0.1% #* Cincinnati Bell, Inc. 230,777 846,952 0.0% # Cogent Communications Holdings, Inc. 40,041 1,358,992 0.0% # Consolidated Communications Holdings, Inc. 49,648 1,285,883 0.0% # Frontier Communications Corp. 1,162,352 7,601,782 0.1% * General Communication, Inc. Class A 47,248 554,219 0.0% #* Globalstar, Inc. 28,293 67,054 0.0% * HC2 Holdings, Inc. 7,362 39,019 0.0% IDT Corp. Class B 17,248 284,247 0.0% Inteliquent, Inc. 48,455 815,498 0.0% #* Iridium Communications, Inc. 57,785 548,957 0.0% #* Level 3 Communications, Inc. 146,555 6,874,895 0.1% # Lumos Networks Corp. 16,768 288,410 0.0% # NTELOS Holdings Corp. 26,667 268,803 0.0% #* ORBCOMM, Inc. 37,244 235,382 0.0% #* Premiere Global Services, Inc. 55,133 577,243 0.0% * SBA Communications Corp. Class A 82,607 9,279,244 0.1% Shenandoah Telecommunications Co. 24,476 724,245 0.0% Spok Holdings, Inc. 21,634 351,336 0.0% #* Sprint Corp. 162,623 964,354 0.0% #* Straight Path Communications, Inc. Class B 8,024 173,318 0.0% * T-Mobile US, Inc. 100,498 2,933,537 0.0% Telephone & Data Systems, Inc. 121,042 3,103,517 0.1% * tw telecom, Inc. 141,825 6,067,273 0.1% #* United States Cellular Corp. 29,939 1,090,378 0.0% Verizon Communications, Inc. 1,937,013 97,334,903 0.9% #* Vonage Holdings Corp. 252,470 878,596 0.0% Windstream Holdings, Inc. 707,124 7,410,660 0.1% -------------------- ------------------ Total Telecommunication Services 284,775,679 2.7% -------------------- ------------------ Utilities -- (2.6%) AES Corp. 386,774 5,441,910 0.1% AGL Resources, Inc. 70,659 3,809,227 0.0% # ALLETE, Inc. 43,372 2,265,753 0.0% Alliant Energy Corp. 42,392 2,624,489 0.0% Ameren Corp. 81,832 3,464,767 0.0% American Electric Power Co., Inc. 121,606 7,094,494 0.1% # American States Water Co. 39,917 1,428,230 0.0% American Water Works Co., Inc. 75,938 4,052,811 0.0% # Aqua America, Inc. 155,034 4,061,891 0.0% # Artesian Resources Corp. Class A 4,218 93,935 0.0% # Atmos Energy Corp. 90,892 4,817,276 0.1% # Avista Corp. 64,694 2,293,402 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Utilities -- (Continued) # Black Hills Corp. 46,605 $ 2,550,692 0.0% #* Cadiz, Inc. 2,464 24,541 0.0% California Water Service Group 46,017 1,197,822 0.0% #* Calpine Corp. 284,927 6,502,034 0.1% CenterPoint Energy, Inc. 182,578 4,482,290 0.1% # Chesapeake Utilities Corp. 13,538 655,645 0.0% # Cleco Corp. 66,034 3,549,988 0.0% CMS Energy Corp. 98,828 3,228,711 0.0% # Connecticut Water Service, Inc. 8,395 312,042 0.0% # Consolidated Edison, Inc. 92,964 5,890,199 0.1% # Consolidated Water Co., Ltd. 12,219 146,506 0.0% # Delta Natural Gas Co., Inc. 2,858 59,218 0.0% Dominion Resources, Inc. 179,784 12,818,599 0.1% DTE Energy Co. 68,196 5,602,983 0.1% Duke Energy Corp. 219,986 18,071,850 0.2% * Dynegy, Inc. 77,896 2,375,828 0.0% Edison International 99,099 6,201,615 0.1% # El Paso Electric Co. 42,525 1,609,146 0.0% Empire District Electric Co. (The) 44,386 1,262,338 0.0% Entergy Corp. 76,345 6,414,507 0.1% # Exelon Corp. 249,236 9,119,545 0.1% FirstEnergy Corp. 163,718 6,113,230 0.1% Gas Natural, Inc. 3,269 37,103 0.0% #* Genie Energy, Ltd. Class B 16,745 121,401 0.0% # Great Plains Energy, Inc. 128,245 3,453,638 0.0% # Hawaiian Electric Industries, Inc. 91,935 2,588,890 0.0% # IDACORP, Inc. 52,012 3,288,719 0.0% Integrys Energy Group, Inc. 68,043 4,945,365 0.1% ITC Holdings Corp. 136,625 5,411,716 0.1% # Laclede Group, Inc. (The) 44,680 2,268,404 0.0% MDU Resources Group, Inc. 141,874 3,998,009 0.0% # MGE Energy, Inc. 30,678 1,364,251 0.0% # Middlesex Water Co. 13,098 295,360 0.0% # National Fuel Gas Co. 53,663 3,715,089 0.0% # New Jersey Resources Corp. 43,010 2,515,225 0.0% NextEra Energy, Inc. 134,627 13,492,318 0.1% NiSource, Inc. 97,044 4,081,671 0.1% # Northeast Utilities 86,437 4,265,666 0.1% # Northwest Natural Gas Co. 27,495 1,290,340 0.0% # NorthWestern Corp. 39,961 2,111,539 0.0% NRG Energy, Inc. 165,040 4,947,899 0.1% NRG Yield, Inc. Class A 8,195 409,504 0.0% OGE Energy Corp. 83,715 3,121,732 0.0% # ONE Gas, Inc. 47,446 1,800,576 0.0% # Ormat Technologies, Inc. 33,366 965,946 0.0% # Otter Tail Corp. 36,620 1,135,220 0.0% Pepco Holdings, Inc. 86,562 2,366,605 0.0% PG&E Corp. 133,100 6,697,592 0.1% Piedmont Natural Gas Co., Inc. 78,246 2,974,130 0.0% Pinnacle West Capital Corp. 45,314 2,785,452 0.0% # PNM Resources, Inc. 80,566 2,324,329 0.0% # Portland General Electric Co. 85,569 3,115,567 0.0% U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Utilities -- (Continued) PPL Corp. 160,502 $ 5,615,965 0.1% Public Service Enterprise Group, Inc. 162,979 6,732,662 0.1% Questar Corp. 148,283 3,575,103 0.0% RGC Resources, Inc. 1,530 30,967 0.0% # SCANA Corp. 49,111 2,695,703 0.0% Sempra Energy 71,977 7,917,470 0.1% # SJW Corp. 16,959 542,010 0.0% # South Jersey Industries, Inc. 33,531 1,966,258 0.0% # Southern Co. (The) 264,074 12,242,471 0.1% Southwest Gas Corp. 48,430 2,813,299 0.0% # TECO Energy, Inc. 225,328 4,418,682 0.1% UGI Corp. 181,720 6,849,027 0.1% # UIL Holdings Corp. 58,769 2,417,757 0.0% # Unitil Corp. 13,109 456,718 0.0% # Vectren Corp. 72,321 3,250,829 0.0% # Westar Energy, Inc. 124,165 4,694,679 0.1% # WGL Holdings, Inc. 53,253 2,502,891 0.0% # Wisconsin Energy Corp. 72,121 3,581,529 0.0% Xcel Energy, Inc. 157,426 5,269,048 0.1% # York Water Co. 10,442 229,515 0.0% -------------------- ------------------ Total Utilities 309,329,353 2.9% -------------------- ------------------ TOTAL COMMON STOCKS 10,746,415,696 99.7% -------------------- ------------------ PREFERRED STOCKS -- (0.0%) Other -- (0.0%) (Degree)* Enron TOPRS Escrow Shares 666 -- 0.0% ------------------- ------------------- RIGHTS/WARRANTS -- (0.0%) (Degree)* Capital Bank Corp. Contingent Value Rights 988 -- 0.0% (Degree)* Community Health Systems, Inc. Rights 01/04/16 216,226 6,465 0.0% (Degree)#* Eagle Bulk Shipping, Inc. Warrants 10/15/21 1,021 2,602 0.0% (Degree)* Leap Wireless International, Inc. Contingent Value Rights 51,554 129,916 0.0% (Degree)* LGL Group, Inc. (The) Warrants 08/06/18 4,820 96 0.0% (Degree)#* Magnum Hunter Resources Corp. Warrants 04/15/16 12,563 -- 0.0% (Degree)* PhotoMedex, Inc. Contingent Value Warrants 12/13/14 389 -- 0.0% (Degree)#* Sears Holdings Corp. Rights 11/07/14 74,551 1,789 0.0% (Degree)* Tejon Ranch Co. Warrants 08/31/16 2,148 4,511 0.0% -------------------- ------------------ TOTAL RIGHTS/WARRANTS 145,379 0.0% -------------------- ------------------ TEMPORARY CASH INVESTMENTS -- (0.6%) State Street Institutional Liquid Reserves, 0.077% 68,557,782 68,557,782 0.6% -------------------- ------------------ (S)@ DFA Short Term Investment Fund 102,239,059 1,182,905,915 11.0% -------------------- ------------------ TOTAL INVESTMENTS -- (100.0%) (Cost $8,664,802,325) $ 11,998,024,772 111.3% ==================== ================== U.S. CORE EQUITY 1 PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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 $ 1,597,450,809 -- -- $ 1,597,450,809 Consumer Staples 818,852,109 -- -- 818,852,109 Energy 1,010,410,419 -- -- 1,010,410,419 Financials 1,592,998,317 $ 6,915 -- 1,593,005,232 Health Care 1,251,174,357 60,906 -- 1,251,235,263 Industrials 1,437,127,437 256 -- 1,437,127,693 Information Technology 1,911,788,015 -- -- 1,911,788,015 Materials 532,177,083 -- -- 532,177,083 Other -- -- -- -- Real Estate Investment Trusts 264,041 -- -- 264,041 Telecommunication Services 284,775,679 -- -- 284,775,679 Utilities 309,329,353 -- -- 309,329,353 Preferred Stocks Other -- -- -- -- Rights/Warrants -- 145,379 -- 145,379 Temporary Cash Investments 68,557,782 -- -- 68,557,782 Securities Lending Collateral -- 1,182,905,915 -- 1,182,905,915 --------------------- -------------------- -------------------- ---------------------- TOTAL $ 10,814,905,401 $ 1,183,119,371 -- $ 11,998,024,772 ===================== ==================== ==================== ====================== U.S. CORE EQUITY 2 PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2014 PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- COMMON STOCKS -- (88.6%) Consumer Discretionary -- (12.7%) * 1-800-Flowers.com, Inc. Class A 46,103 $ 370,207 0.0% Aaron's, Inc. 140,247 3,472,516 0.0% # Abercrombie & Fitch Co. Class A 123,708 4,141,744 0.0% Advance Auto Parts, Inc. 32,852 4,827,930 0.0% #* Aeropostale, Inc. 130,833 393,807 0.0% * AG&E Holdings, Inc. 4,482 5,065 0.0% # AH Belo Corp. Class A 28,956 333,284 0.0% * Amazon.com, Inc. 64,980 19,848,791 0.2% * Ambassadors Group, Inc. 23,469 83,315 0.0% #* AMC Networks, Inc. Class A 39,188 2,376,752 0.0% AMCON Distributing Co. 668 54,763 0.0% #* America's Car-Mart, Inc. 16,726 769,061 0.0% #* American Axle & Manufacturing Holdings, Inc. 114,544 2,214,136 0.0% # American Eagle Outfitters, Inc. 310,359 3,994,320 0.0% #* American Public Education, Inc. 31,061 962,580 0.0% * ANN, Inc. 176,949 6,793,072 0.1% * Apollo Education Group, Inc. Class A 258,365 7,404,741 0.1% # Arctic Cat, Inc. 23,182 780,306 0.0% Ark Restaurants Corp. 4,916 108,349 0.0% #* Asbury Automotive Group, Inc. 75,446 5,284,238 0.1% * Ascena Retail Group, Inc. 270,277 3,364,949 0.0% #* Ascent Capital Group, Inc. Class A 21,275 1,367,983 0.0% # Autoliv, Inc. 63,778 5,850,994 0.1% #* AutoNation, Inc. 128,521 7,359,112 0.1% * AutoZone, Inc. 10,328 5,716,755 0.1% * Ballantyne Strong, Inc. 17,770 79,787 0.0% * Bally Technologies, Inc. 37,045 2,978,418 0.0% #* Barnes & Noble, Inc. 161,419 3,522,163 0.0% Bassett Furniture Industries, Inc. 14,448 251,106 0.0% Beasley Broadcasting Group, Inc. Class A 8,562 40,241 0.0% #* Beazer Homes USA, Inc. 22,402 401,668 0.0% # bebe stores, Inc. 130,718 299,344 0.0% #* Bed Bath & Beyond, Inc. 268,974 18,112,709 0.2% * Belmond, Ltd. Class A 157,124 1,800,641 0.0% Best Buy Co., Inc. 414,606 14,154,649 0.1% Big 5 Sporting Goods Corp. 38,869 478,477 0.0% Big Lots, Inc. 150,563 6,873,201 0.1% * Biglari Holdings, Inc. 3,600 1,256,976 0.0% #* BJ's Restaurants, Inc. 65,509 2,883,706 0.0% #* Bloomin' Brands, Inc. 53,550 1,012,631 0.0% #* Blue Nile, Inc. 6,304 223,792 0.0% # Blyth, Inc. 24,520 205,723 0.0% Bob Evans Farms, Inc. 55,648 2,718,405 0.0% # Bon-Ton Stores, Inc. (The) 26,063 229,615 0.0% * Books-A-Million, Inc. 20,408 29,592 0.0% BorgWarner, Inc. 209,722 11,958,348 0.1% Bowl America, Inc. Class A 3,937 57,087 0.0% #* Boyd Gaming Corp. 103,900 1,200,045 0.0% * Bravo Brio Restaurant Group, Inc. 38,941 540,112 0.0% #* Bridgepoint Education, Inc. 71,667 905,871 0.0% #* Bright Horizons Family Solutions, Inc. 12,175 542,518 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) Brinker International, Inc. 80,912 $ 4,340,120 0.0% Brown Shoe Co., Inc. 85,444 2,271,956 0.0% # Brunswick Corp. 105,693 4,946,432 0.0% # Buckle, Inc. (The) 38,775 1,912,771 0.0% #* Buffalo Wild Wings, Inc. 40,317 6,018,522 0.1% #* Build-A-Bear Workshop, Inc. 27,715 469,769 0.0% # Burger King Worldwide, Inc. 23,147 756,444 0.0% #* Cabela's, Inc. 100,507 4,826,346 0.0% # Cablevision Systems Corp. Class A 136,488 2,541,407 0.0% #* Caesars Entertainment Corp. 47,126 574,466 0.0% # Callaway Golf Co. 138,311 1,084,358 0.0% * Cambium Learning Group, Inc. 82,206 125,775 0.0% * Canterbury Park Holding Corp. 5,270 50,329 0.0% # Capella Education Co. 27,466 1,942,945 0.0% #* Career Education Corp. 118,197 685,543 0.0% #* CarMax, Inc. 189,735 10,608,084 0.1% * Carmike Cinemas, Inc. 44,598 1,429,366 0.0% Carnival Corp. 153,190 6,150,578 0.1% # Carriage Services, Inc. 26,463 528,201 0.0% #* Carrols Restaurant Group, Inc. 44,457 342,763 0.0% Carter's, Inc. 77,010 6,016,791 0.1% # Cato Corp. (The) Class A 57,451 2,049,277 0.0% * Cavco Industries, Inc. 14,061 1,024,625 0.0% CBS Corp. Class A 16,227 880,964 0.0% CBS Corp. Class B 287,701 15,599,148 0.1% #* Central European Media Enterprises, Ltd. Class A 18,678 45,388 0.0% #* Charles & Colvard, Ltd. 29,159 84,853 0.0% * Charter Communications, Inc. Class A 48,366 7,660,691 0.1% # Cheesecake Factory, Inc. (The) 187,868 8,630,656 0.1% Cherokee, Inc. 8,005 139,927 0.0% Chico's FAS, Inc. 259,294 3,910,154 0.0% # Children's Place, Inc. (The) 38,069 1,874,898 0.0% * Chipotle Mexican Grill, Inc. 12,522 7,989,036 0.1% # Choice Hotels International, Inc. 47,248 2,527,768 0.0% * Christopher & Banks Corp. 63,261 413,094 0.0% Churchill Downs, Inc. 29,902 3,049,406 0.0% #* Chuy's Holdings, Inc. 3,487 104,296 0.0% #* Cinedigm Corp. 83,923 130,081 0.0% Cinemark Holdings, Inc. 190,072 6,713,343 0.1% * Citi Trends, Inc. 28,446 644,302 0.0% Clear Channel Outdoor Holdings, Inc. Class A 55,873 405,638 0.0% Coach, Inc. 34,738 1,194,292 0.0% * Coast Distribution System, Inc. (The) 1,760 5,447 0.0% Collectors Universe, Inc. 8,599 211,535 0.0% # Columbia Sportswear Co. 101,858 3,925,607 0.0% Comcast Corp. Class A 1,577,147 87,295,086 0.7% # Comcast Corp. Special Class A 337,406 18,604,567 0.2% #* Conn's, Inc. 56,833 1,768,075 0.0% Cooper Tire & Rubber Co. 115,555 3,722,027 0.0% * Cooper-Standard Holding, Inc. 292 15,937 0.0% Core-Mark Holding Co., Inc. 41,764 2,423,565 0.0% # Cracker Barrel Old Country Store, Inc. 60,179 6,941,648 0.1% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) * Crocs, Inc. 168,395 $ 1,966,854 0.0% #* Crown Media Holdings, Inc. Class A 51,149 178,510 0.0% # CSS Industries, Inc. 8,600 245,616 0.0% CST Brands, Inc. 198,049 7,575,374 0.1% Culp, Inc. 18,403 349,105 0.0% #* Cumulus Media, Inc. Class A 140,245 541,346 0.0% # Dana Holding Corp. 334,727 6,848,514 0.1% # Darden Restaurants, Inc. 144,641 7,489,511 0.1% #* Deckers Outdoor Corp. 59,288 5,185,328 0.1% * Del Frisco's Restaurant Group, Inc. 27,506 638,689 0.0% Delphi Automotive P.L.C. 31,354 2,162,799 0.0% #* Delta Apparel, Inc. 15,491 162,656 0.0% Destination Maternity Corp. 23,762 355,955 0.0% #* Destination XL Group, Inc. 82,498 432,290 0.0% DeVry Education Group, Inc. 109,405 5,296,296 0.1% * DGSE Cos., Inc. 8,710 10,017 0.0% Dick's Sporting Goods, Inc. 34,536 1,566,898 0.0% # Dillard's, Inc. Class A 87,899 9,296,198 0.1% DineEquity, Inc. 44,270 3,938,259 0.0% * DIRECTV 110,916 9,626,400 0.1% * Discovery Communications, Inc. 104,165 3,644,733 0.0% #* Discovery Communications, Inc. Class A 38,327 1,354,859 0.0% * Discovery Communications, Inc. Class B 1,502 56,685 0.0% * DISH Network Corp. Class A 42,243 2,688,767 0.0% #* Dixie Group, Inc. (The) 15,615 123,046 0.0% * Dollar General Corp. 307,976 19,300,856 0.2% * Dollar Tree, Inc. 91,616 5,549,181 0.1% # Domino's Pizza, Inc. 57,309 5,088,466 0.1% #* Dorman Products, Inc. 68,724 3,186,045 0.0% * Dover Downs Gaming & Entertainment, Inc. 18,137 13,603 0.0% Dover Motorsports, Inc. 9,156 21,837 0.0% DR Horton, Inc. 289,605 6,600,098 0.1% #* DreamWorks Animation SKG, Inc. Class A 131,995 2,940,849 0.0% Drew Industries, Inc. 61,252 2,943,771 0.0% DSW, Inc. Class A 98,879 2,931,762 0.0% # Dunkin' Brands Group, Inc. 127,878 5,815,891 0.1% #* Education Management Corp. 69,433 41,320 0.0% Educational Development Corp. 3,809 16,645 0.0% Einstein Noah Restaurant Group, Inc. 40,616 822,474 0.0% * Eldorado Resorts, Inc. 20,339 83,797 0.0% # Emerson Radio Corp. 26,350 30,039 0.0% * Emmis Communications Corp. Class A 5,500 11,990 0.0% #* Empire Resorts, Inc. 5,120 38,349 0.0% #* Entercom Communications Corp. Class A 43,742 449,668 0.0% # Entravision Communications Corp. Class A 74,777 385,849 0.0% # Escalade, Inc. 12,111 138,550 0.0% # Ethan Allen Interiors, Inc. 53,095 1,502,589 0.0% #* EW Scripps Co. (The) Class A 76,553 1,469,818 0.0% Expedia, Inc. 65,285 5,547,266 0.1% * Express, Inc. 87,347 1,307,585 0.0% Family Dollar Stores, Inc. 38,461 3,011,112 0.0% #* Famous Dave's Of America, Inc. 10,924 284,789 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) #* Federal-Mogul Holdings Corp. 132,126 $ 2,062,487 0.0% #* Fiesta Restaurant Group, Inc. 38,000 2,095,700 0.0% Finish Line, Inc. (The) Class A 106,176 2,810,479 0.0% #* Five Below, Inc. 52,555 2,095,368 0.0% * Flanigan's Enterprises, Inc. 1,000 20,000 0.0% Flexsteel Industries, Inc. 7,812 268,030 0.0% Foot Locker, Inc. 255,692 14,321,309 0.1% Ford Motor Co. 2,440,086 34,380,812 0.3% * Fossil Group, Inc. 59,601 6,059,038 0.1% # Fred's, Inc. Class A 58,107 912,280 0.0% Frisch's Restaurants, Inc. 7,545 193,756 0.0% #* FTD Cos., Inc. 34,025 1,197,000 0.0% #* Fuel Systems Solutions, Inc. 33,207 306,501 0.0% * Full House Resorts, Inc. 19,925 25,703 0.0% #* G-III Apparel Group, Ltd. 55,797 4,427,492 0.0% * Gaiam, Inc. Class A 18,959 143,520 0.0% # GameStop Corp. Class A 257,098 10,993,510 0.1% * Gaming Partners International Corp. 8,266 69,352 0.0% Gannett Co., Inc. 362,135 11,407,252 0.1% # Gap, Inc. (The) 167,853 6,359,950 0.1% # Garmin, Ltd. 135,206 7,501,229 0.1% #* Geeknet, Inc. 7,665 74,274 0.0% General Motors Co. 829,997 26,061,906 0.2% #* Genesco, Inc. 46,125 3,537,326 0.0% # Gentex Corp. 199,589 6,534,544 0.1% * Gentherm, Inc. 73,162 3,050,855 0.0% Genuine Parts Co. 71,003 6,892,971 0.1% GNC Holdings, Inc. Class A 29,837 1,240,324 0.0% Goodyear Tire & Rubber Co. (The) 210,384 5,097,604 0.1% #* Gordmans Stores, Inc. 12,089 38,080 0.0% Graham Holdings Co. Class B 11,115 8,709,714 0.1% * Grand Canyon Education, Inc. 83,032 3,977,233 0.0% #* Gray Television, Inc. 90,481 836,044 0.0% * Gray Television, Inc. Class A 3,160 23,384 0.0% # Group 1 Automotive, Inc. 65,733 5,615,570 0.1% #* Groupon, Inc. 88,340 645,765 0.0% Guess?, Inc. 135,741 3,009,378 0.0% H&R Block, Inc. 123,489 3,989,930 0.0% #* Hampshire Group, Ltd. 1,000 2,430 0.0% Hanesbrands, Inc. 47,175 4,982,152 0.0% Harley-Davidson, Inc. 95,911 6,301,353 0.1% Harman International Industries, Inc. 37,594 4,035,340 0.0% Harte-Hanks, Inc. 101,453 660,459 0.0% # Hasbro, Inc. 34,967 2,011,652 0.0% Haverty Furniture Cos., Inc. 34,291 754,745 0.0% Haverty Furniture Cos., Inc. Class A 2,523 55,456 0.0% * Helen of Troy, Ltd. 53,869 3,331,798 0.0% * Here Media, Inc. 300 -- 0.0% (Degree)* Here Media, Inc. Special Shares 300 -- 0.0% #* hhgregg, Inc. 53,331 276,255 0.0% #* Hibbett Sports, Inc. 28,075 1,274,324 0.0% * Hollywood Media Corp. 12,071 13,399 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) Home Depot, Inc. (The) 286,801 $ 27,968,834 0.2% # Hooker Furniture Corp. 16,557 253,157 0.0% #* Hovnanian Enterprises, Inc. Class A 102,044 383,685 0.0% # HSN, Inc. 66,345 4,383,414 0.0% * Hyatt Hotels Corp. Class A 31,138 1,843,992 0.0% #* Iconix Brand Group, Inc. 111,831 4,474,358 0.0% International Game Technology 222,506 3,646,873 0.0% # International Speedway Corp. Class A 53,218 1,667,320 0.0% Interpublic Group of Cos., Inc. (The) 455,767 8,837,322 0.1% Interval Leisure Group, Inc. 92,846 1,953,480 0.0% #* iRobot Corp. 51,251 1,830,686 0.0% #* Isle of Capri Casinos, Inc. 57,056 423,926 0.0% #* ITT Educational Services, Inc. 15,300 154,683 0.0% Jack in the Box, Inc. 107,924 7,666,921 0.1% #* JAKKS Pacific, Inc. 27,534 175,667 0.0% #* Jamba, Inc. 18,576 247,990 0.0% * Jarden Corp. 140,963 9,175,282 0.1% #* JC Penney Co., Inc. 365,889 2,784,415 0.0% John Wiley & Sons, Inc. Class A 83,396 4,869,492 0.0% John Wiley & Sons, Inc. Class B 7,502 437,592 0.0% Johnson Controls, Inc. 446,476 21,095,991 0.2% # Johnson Outdoors, Inc. Class A 19,561 587,808 0.0% * Journal Communications, Inc. Class A 71,971 706,036 0.0% * K12, Inc. 67,095 831,978 0.0% #* Kate Spade & Co. 76,431 2,073,573 0.0% # KB Home 120,600 1,898,244 0.0% #* Kirkland's, Inc. 32,803 583,893 0.0% # Kohl's Corp. 290,745 15,764,194 0.1% #* Kona Grill, Inc. 11,997 270,292 0.0% Koss Corp. 4,495 6,383 0.0% #* Krispy Kreme Doughnuts, Inc. 103,485 1,957,936 0.0% L Brands, Inc. 88,844 6,407,429 0.1% La-Z-Boy, Inc. 93,027 2,126,597 0.0% #* Lakeland Industries, Inc. 7,818 110,234 0.0% # Lamar Advertising Co. Class A 74,317 3,838,473 0.0% #* Lands' End, Inc. 37,689 1,789,097 0.0% Las Vegas Sands Corp. 86,731 5,399,872 0.1% * Lazare Kaplan International, Inc. 3,667 5,941 0.0% * LeapFrog Enterprises, Inc. 109,184 580,859 0.0% Lear Corp. 75,797 7,011,222 0.1% * Learning Tree International, Inc. 16,482 40,875 0.0% #* Lee Enterprises, Inc. 46,810 174,601 0.0% # Leggett & Platt, Inc. 183,088 7,210,005 0.1% # Lennar Corp. Class A 118,697 5,113,467 0.1% Lennar Corp. Class B 29,753 1,044,628 0.0% #* Libbey, Inc. 97,178 2,793,867 0.0% #* Liberty Global P.L.C. Class A 89,117 4,052,150 0.0% * Liberty Global P.L.C. Class B 808 37,265 0.0% * Liberty Global P.L.C. Class C 401,263 17,844,166 0.1% * Liberty Interactive Corp. Class A 471,654 12,329,036 0.1% * Liberty Interactive Corp. Class B 11,086 293,613 0.0% * Liberty Media Corp. 195,276 9,359,579 0.1% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) * Liberty Media Corp. Class A 95,152 $ 4,569,199 0.0% * Liberty Media Corp. Class B 5,224 244,640 0.0% * Liberty TripAdvisor Holdings, Inc. Class A 120,298 3,799,011 0.0% * Liberty TripAdvisor Holdings, Inc. Class B 1,138 39,238 0.0% * Liberty Ventures Series A 198,295 6,960,154 0.1% * Liberty Ventures Series B 2,714 94,138 0.0% #* Life Time Fitness, Inc. 85,452 4,765,658 0.0% # Lifetime Brands, Inc. 16,818 287,756 0.0% * LIN Media LLC Class A 17,359 415,401 0.0% # Lincoln Educational Services Corp. 32,420 85,913 0.0% # Lions Gate Entertainment Corp. 72,862 2,413,918 0.0% # Lithia Motors, Inc. Class A 55,233 4,287,185 0.0% * Live Nation Entertainment, Inc. 340,489 8,852,714 0.1% * LKQ Corp. 376,352 10,752,377 0.1% * Loral Space & Communications, Inc. 30,095 2,302,267 0.0% Lowe's Cos., Inc. 331,612 18,968,206 0.2% * Luby's, Inc. 35,781 178,547 0.0% #* Lululemon Athletica, Inc. 22,117 921,173 0.0% #* Lumber Liquidators Holdings, Inc. 34,916 1,877,433 0.0% #* M/I Homes, Inc. 43,638 939,963 0.0% Macy's, Inc. 237,533 13,734,158 0.1% #* Madison Square Garden Co. (The) Class A 109,895 8,325,645 0.1% Marcus Corp. (The) 30,027 514,363 0.0% # Marine Products Corp. 47,094 397,473 0.0% #* MarineMax, Inc. 44,869 860,139 0.0% # Marriott International, Inc. Class A 81,920 6,205,440 0.1% Marriott Vacations Worldwide Corp. 33,916 2,355,127 0.0% #* Martha Stewart Living Omnimedia, Inc. Class A 60,321 261,190 0.0% Mattel, Inc. 165,431 5,139,941 0.1% #* Mattress Firm Holding Corp. 10,007 632,342 0.0% * McClatchy Co. (The) Class A 119,920 426,915 0.0% McDonald's Corp. 271,787 25,474,596 0.2% # MDC Holdings, Inc. 134,318 3,280,046 0.0% #* Media General, Inc. Class A 37,031 553,243 0.0% # Men's Wearhouse, Inc. (The) 86,665 4,075,855 0.0% # Meredith Corp. 65,276 3,403,491 0.0% #* Meritage Homes Corp. 87,675 3,225,563 0.0% * MGM Resorts International 568,164 13,209,813 0.1% * Michael Kors Holdings, Ltd. 49,127 3,860,891 0.0% * Modine Manufacturing Co. 106,820 1,370,501 0.0% * Mohawk Industries, Inc. 52,396 7,442,328 0.1% * Monarch Casino & Resort, Inc. 27,593 448,938 0.0% # Monro Muffler Brake, Inc. 54,362 2,905,105 0.0% Morningstar, Inc. 20,081 1,370,528 0.0% #* Motorcar Parts of America, Inc. 29,877 867,628 0.0% Movado Group, Inc. 33,112 1,168,854 0.0% * Multimedia Games Holding Co., Inc. 25,419 887,123 0.0% * Murphy USA, Inc. 92,688 5,311,022 0.1% NACCO Industries, Inc. Class A 10,705 626,992 0.0% #* Nathan's Famous, Inc. 7,706 553,907 0.0% # National CineMedia, Inc. 84,152 1,338,017 0.0% * Nautilus, Inc. 71,707 959,440 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) * Netflix, Inc. 7,841 $ 3,079,710 0.0% #* Nevada Gold & Casinos, Inc. 1,100 1,309 0.0% * New York & Co., Inc. 111,142 363,434 0.0% # New York Times Co. (The) Class A 270,640 3,475,018 0.0% Newell Rubbermaid, Inc. 100,525 3,350,498 0.0% * News Corp. Class A 344,974 5,340,198 0.1% #* News Corp. Class B 129,824 1,953,851 0.0% # Nexstar Broadcasting Group, Inc. Class A 45,490 2,052,509 0.0% NIKE, Inc. Class B 92,716 8,619,807 0.1% * Nobility Homes, Inc. 2,557 28,063 0.0% Nordstrom, Inc. 89,112 6,470,422 0.1% * Norwegian Cruise Line Holdings, Ltd. 71,919 2,804,841 0.0% Nutrisystem, Inc. 44,458 748,673 0.0% * NVR, Inc. 6,499 7,978,042 0.1% * O'Reilly Automotive, Inc. 73,392 12,908,185 0.1% #* Office Depot, Inc. 1,179,442 6,156,687 0.1% Omnicom Group, Inc. 99,486 7,149,064 0.1% * Orbitz Worldwide, Inc. 186,195 1,539,833 0.0% #* Outerwall, Inc. 48,358 3,059,611 0.0% #* Overstock.com, Inc. 21,548 498,190 0.0% # Oxford Industries, Inc. 35,941 2,201,386 0.0% #* P&F Industries, Inc. Class A 2,869 22,923 0.0% #* Pacific Sunwear of California, Inc. 84,041 127,742 0.0% #* Panera Bread Co. Class A 23,395 3,781,568 0.0% # Papa John's International, Inc. 71,676 3,351,570 0.0% #* Penn National Gaming, Inc. 168,437 2,204,840 0.0% Penske Automotive Group, Inc. 160,504 7,261,201 0.1% * Pep Boys-Manny, Moe & Jack (The) 87,677 835,562 0.0% * Perfumania Holdings, Inc. 6,982 42,939 0.0% #* Perry Ellis International, Inc. 25,247 516,301 0.0% # PetMed Express, Inc. 32,127 424,398 0.0% # PetSmart, Inc. 41,673 3,015,042 0.0% # Pier 1 Imports, Inc. 139,418 1,798,492 0.0% #* Pinnacle Entertainment, Inc. 76,630 1,964,027 0.0% # Polaris Industries, Inc. 30,288 4,569,248 0.0% Pool Corp. 66,672 3,980,318 0.0% #* Popeyes Louisiana Kitchen, Inc. 35,169 1,630,083 0.0% * Premier Exhibitions, Inc. 6,900 5,451 0.0% * Priceline Group, Inc. (The) 7,627 9,199,764 0.1% PulteGroup, Inc. 433,338 8,315,756 0.1% PVH Corp. 55,641 6,362,548 0.1% * QEP Co., Inc. 670 11,755 0.0% #* Quiksilver, Inc. 280,118 490,207 0.0% #* Radio One, Inc. Class D 33,982 84,615 0.0% #* RadioShack Corp. 143,336 131,869 0.0% Ralph Lauren Corp. 52,679 8,683,606 0.1% * RCI Hospitality Holdings, Inc. 13,809 164,327 0.0% #* Reading International, Inc. Class A 14,293 142,501 0.0% * Reading International, Inc. Class B 300 3,300 0.0% * Red Lion Hotels Corp. 26,248 148,826 0.0% #* Red Robin Gourmet Burgers, Inc. 31,688 1,741,889 0.0% # Regal Entertainment Group Class A 110,822 2,454,707 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) # Regis Corp. 93,341 $ 1,584,930 0.0% # Rent-A-Center, Inc. 100,988 3,127,598 0.0% #* Rentrak Corp. 11,567 889,155 0.0% #* Restoration Hardware Holdings, Inc. 13,063 1,049,220 0.0% Rocky Brands, Inc. 8,403 110,415 0.0% Ross Stores, Inc. 93,490 7,546,513 0.1% Royal Caribbean Cruises, Ltd. 237,748 16,159,732 0.1% #* Ruby Tuesday, Inc. 104,938 805,924 0.0% Ruth's Hospitality Group, Inc. 98,592 1,199,865 0.0% # Ryland Group, Inc. (The) 69,112 2,474,901 0.0% # Saga Communications, Inc. Class A 5,094 204,269 0.0% # Salem Communications Corp. Class A 21,782 167,939 0.0% * Sally Beauty Holdings, Inc. 101,280 2,968,517 0.0% # Scholastic Corp. 39,002 1,357,660 0.0% #* Scientific Games Corp. Class A 143,686 1,691,184 0.0% # Scripps Networks Interactive, Inc. Class A 44,366 3,426,830 0.0% #* Sears Holdings Corp. 125,301 4,375,511 0.0% # SeaWorld Entertainment, Inc. 55,053 1,059,220 0.0% #* Select Comfort Corp. 122,622 3,150,159 0.0% Service Corp. International 386,617 8,455,314 0.1% #* Shiloh Industries, Inc. 29,724 506,497 0.0% Shoe Carnival, Inc. 34,798 640,283 0.0% #* Shutterfly, Inc. 66,497 2,781,570 0.0% Signet Jewelers, Ltd. 117,646 14,118,696 0.1% # Sinclair Broadcast Group, Inc. Class A 104,464 3,034,679 0.0% Six Flags Entertainment Corp. 147,364 5,938,769 0.1% #* Sizmek, Inc. 46,642 267,259 0.0% * Skechers U.S.A., Inc. Class A 68,332 3,741,177 0.0% #* Skullcandy, Inc. 7,542 62,900 0.0% #* Skyline Corp. 10,884 39,835 0.0% #* Smith & Wesson Holding Corp. 28,380 288,341 0.0% # Sonic Automotive, Inc. Class A 88,855 2,211,601 0.0% #* Sonic Corp. 106,493 2,684,689 0.0% # Sotheby's 103,328 4,097,988 0.0% * Spanish Broadcasting System, Inc. Class A 2,346 9,454 0.0% Spartan Motors, Inc. 47,982 273,018 0.0% # Speedway Motorsports, Inc. 61,111 1,195,942 0.0% Stage Stores, Inc. 76,205 1,285,578 0.0% # Standard Motor Products, Inc. 47,202 1,865,423 0.0% #* Standard Pacific Corp. 408,788 3,025,031 0.0% * Stanley Furniture Co., Inc. 15,342 44,492 0.0% # Staples, Inc. 628,076 7,964,004 0.1% Starbucks Corp. 131,291 9,920,348 0.1% Starwood Hotels & Resorts Worldwide, Inc. 55,376 4,245,124 0.0% #* Starz 152,168 4,701,991 0.0% * Starz Class B 5,224 161,187 0.0% Stein Mart, Inc. 76,891 1,028,802 0.0% * Steiner Leisure, Ltd. 23,590 995,026 0.0% * Steven Madden, Ltd. 159,348 4,995,560 0.1% * Stoneridge, Inc. 48,856 634,639 0.0% Strattec Security Corp. 4,792 497,026 0.0% * Strayer Education, Inc. 16,865 1,234,349 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) # Sturm Ruger & Co., Inc. 24,927 $ 1,038,957 0.0% # Superior Industries International, Inc. 42,144 822,229 0.0% # Superior Uniform Group, Inc. 12,533 300,792 0.0% Sypris Solutions, Inc. 26,299 89,680 0.0% #* Systemax, Inc. 51,897 794,024 0.0% Tandy Leather Factory, Inc. 7,929 73,264 0.0% Target Corp. 374,012 23,121,422 0.2% * Taylor Morrison Home Corp. Class A 6,407 110,457 0.0% * Tempur Sealy International, Inc. 51,265 2,698,590 0.0% * Tenneco, Inc. 46,468 2,433,064 0.0% #* Tesla Motors, Inc. 18,724 4,525,591 0.0% # Texas Roadhouse, Inc. 185,414 5,352,902 0.1% # Thor Industries, Inc. 126,661 6,699,100 0.1% Tiffany & Co. 42,344 4,070,105 0.0% Time Warner Cable, Inc. 161,177 23,726,866 0.2% Time Warner, Inc. 517,992 41,164,824 0.3% * Time, Inc. 66,949 1,512,378 0.0% TJX Cos., Inc. (The) 152,101 9,631,035 0.1% * Toll Brothers, Inc. 208,605 6,664,930 0.1% * Tower International, Inc. 35,248 856,526 0.0% # Town Sports International Holdings, Inc. 30,008 177,647 0.0% # Tractor Supply Co. 95,125 6,965,052 0.1% Trans World Entertainment Corp. 1,798 5,933 0.0% * TripAdvisor, Inc. 53,030 4,701,640 0.0% * TRW Automotive Holdings Corp. 127,897 12,962,361 0.1% #* Tuesday Morning Corp. 75,510 1,539,649 0.0% #* Tumi Holdings, Inc. 34,786 722,505 0.0% # Tupperware Brands Corp. 31,327 1,997,096 0.0% Twenty-First Century Fox, Inc. Class A 389,658 13,435,408 0.1% Twenty-First Century Fox, Inc. Class B 120,829 4,007,898 0.0% * Ulta Salon Cosmetics & Fragrance, Inc. 39,676 4,793,258 0.0% #* Under Armour, Inc. Class A 45,757 3,000,744 0.0% * Unifi, Inc. 29,133 814,850 0.0% * Universal Electronics, Inc. 26,240 1,492,794 0.0% Universal Technical Institute, Inc. 35,790 426,259 0.0% #* UQM Technologies, Inc. 21,417 23,773 0.0% * Urban Outfitters, Inc. 153,623 4,663,994 0.0% * US Auto Parts Network, Inc. 39,333 106,199 0.0% Vail Resorts, Inc. 77,283 6,674,160 0.1% Value Line, Inc. 7,363 117,440 0.0% #* Valuevision Media, Inc. Class A 82,152 464,980 0.0% VF Corp. 98,656 6,677,038 0.1% Viacom, Inc. Class A 4,120 301,007 0.0% Viacom, Inc. Class B 112,173 8,152,734 0.1% * Visteon Corp. 108,928 10,228,339 0.1% #* Vitamin Shoppe, Inc. 42,854 2,011,138 0.0% #* VOXX International Corp. 33,932 289,440 0.0% Walking Co. Holdings, Inc. (The) 329 2,426 0.0% Walt Disney Co. (The) 830,524 75,893,283 0.6% # Weight Watchers International, Inc. 34,160 889,868 0.0% # Wendy's Co. (The) 686,659 5,507,005 0.1% * West Marine, Inc. 35,052 344,912 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) # Weyco Group, Inc. 12,731 $ 396,571 0.0% Whirlpool Corp. 92,548 15,922,883 0.1% * William Lyon Homes Class A 2,018 47,746 0.0% Williams-Sonoma, Inc. 88,626 5,763,349 0.1% # Winmark Corp. 5,764 474,262 0.0% #* Winnebago Industries, Inc. 62,348 1,322,401 0.0% # Wolverine World Wide, Inc. 143,907 3,905,636 0.0% # World Wrestling Entertainment, Inc. Class A 47,266 583,735 0.0% Wyndham Worldwide Corp. 180,614 14,028,289 0.1% Wynn Resorts, Ltd. 19,658 3,735,217 0.0% Yum! Brands, Inc. 85,874 6,168,329 0.1% * Zagg, Inc. 42,288 284,175 0.0% #* Zumiez, Inc. 74,264 2,478,932 0.0% -------------------- ------------------ Total Consumer Discretionary 1,840,389,658 14.2% -------------------- ------------------ Consumer Staples -- (5.4%) # Alico, Inc. 10,664 393,502 0.0% * Alliance One International, Inc. 138,442 281,037 0.0% Altria Group, Inc. 380,680 18,402,071 0.2% Andersons, Inc. (The) 46,573 2,968,097 0.0% Archer-Daniels-Midland Co. 296,514 13,936,158 0.1% # Avon Products, Inc. 122,826 1,277,390 0.0% # B&G Foods, Inc. 114,203 3,364,420 0.0% #* Boston Beer Co., Inc. (The) Class A 10,762 2,679,738 0.0% #* Boulder Brands, Inc. 102,551 910,653 0.0% * Bridgford Foods Corp. 7,329 61,527 0.0% Brown-Forman Corp. Class A 19,844 1,803,621 0.0% Brown-Forman Corp. Class B 26,010 2,410,347 0.0% Bunge, Ltd. 137,427 12,182,904 0.1% # Cal-Maine Foods, Inc. 47,180 4,141,932 0.0% # Calavo Growers, Inc. 29,947 1,453,627 0.0% # Campbell Soup Co. 138,799 6,130,752 0.1% # Casey's General Stores, Inc. 75,683 6,196,167 0.1% * CCA Industries, Inc. 5,962 20,271 0.0% #* Central Garden and Pet Co. 26,310 209,954 0.0% * Central Garden and Pet Co. Class A 74,427 639,328 0.0% #* Chefs' Warehouse, Inc. (The) 580 10,365 0.0% * Chiquita Brands International, Inc. 86,616 1,249,869 0.0% Church & Dwight Co., Inc. 89,722 6,496,770 0.1% # Clorox Co. (The) 50,626 5,037,287 0.1% # Coca-Cola Bottling Co. Consolidated 13,029 1,178,343 0.0% Coca-Cola Co. (The) 863,072 36,145,455 0.3% Coca-Cola Enterprises, Inc. 353,650 15,330,727 0.1% #* Coffee Holding Co., Inc. 5,400 30,888 0.0% Colgate-Palmolive Co. 191,018 12,775,284 0.1% ConAgra Foods, Inc. 300,325 10,316,164 0.1% * Constellation Brands, Inc. Class A 209,075 19,138,725 0.2% * Constellation Brands, Inc. Class B 5,400 493,236 0.0% Costco Wholesale Corp. 95,855 12,784,181 0.1% #* Craft Brew Alliance, Inc. 25,033 347,458 0.0% #* Crimson Wine Group, Ltd. 24,913 226,708 0.0% CVS Health Corp. 680,040 58,354,232 0.5% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Staples -- (Continued) * Darling International, Inc. 205,056 $ 3,608,986 0.0% # Dean Foods Co. 172,060 2,531,003 0.0% #* Diamond Foods, Inc. 31,801 958,800 0.0% Dr Pepper Snapple Group, Inc. 257,376 17,823,288 0.1% Energizer Holdings, Inc. 47,928 5,878,369 0.1% Estee Lauder Cos., Inc. (The) Class A 42,134 3,167,634 0.0% #* Farmer Bros. Co. 27,499 801,871 0.0% Flowers Foods, Inc. 239,970 4,559,430 0.0% # Fresh Del Monte Produce, Inc. 104,174 3,345,027 0.0% #* Fresh Market, Inc. (The) 7,155 262,660 0.0% General Mills, Inc. 149,274 7,756,277 0.1% Golden Enterprises, Inc. 9,888 44,199 0.0% #* Hain Celestial Group, Inc. (The) 66,335 7,180,764 0.1% # Herbalife, Ltd. 44,162 2,316,739 0.0% Hershey Co. (The) 20,033 1,921,365 0.0% Hormel Foods Corp. 135,026 7,279,252 0.1% * IGI Laboratories, Inc. 647 6,347 0.0% Ingles Markets, Inc. Class A 22,887 615,660 0.0% # Ingredion, Inc. 134,531 10,392,520 0.1% # Inter Parfums, Inc. 51,717 1,468,763 0.0% * Inventure Foods, Inc. 9,619 127,356 0.0% J&J Snack Foods Corp. 34,535 3,558,141 0.0% JM Smucker Co. (The) 102,584 10,668,736 0.1% John B. Sanfilippo & Son, Inc. 8,216 305,224 0.0% Kellogg Co. 65,677 4,200,701 0.0% Keurig Green Mountain, Inc. 30,280 4,594,990 0.0% Kimberly-Clark Corp. 75,775 8,658,809 0.1% Kraft Foods Group, Inc. 185,631 10,460,307 0.1% Kroger Co. (The) 215,844 12,024,669 0.1% # Lancaster Colony Corp. 52,943 4,843,755 0.0% #* Lifeway Foods, Inc. 8,037 133,012 0.0% # Limoneira Co. 2,051 52,629 0.0% Lorillard, Inc. 55,079 3,387,359 0.0% * Mannatech, Inc. 2,000 29,140 0.0% McCormick & Co., Inc.(579780107) 3,330 234,099 0.0% # McCormick & Co., Inc.(579780206) 27,707 1,959,439 0.0% Mead Johnson Nutrition Co. 50,716 5,036,606 0.0% #* Medifast, Inc. 41,833 1,327,779 0.0% # MGP Ingredients, Inc. 20,250 250,088 0.0% # Molson Coors Brewing Co. Class A 1,020 80,264 0.0% Molson Coors Brewing Co. Class B 170,402 12,674,501 0.1% Mondelez International, Inc. Class A 938,871 33,104,591 0.3% * Monster Beverage Corp. 76,701 7,737,597 0.1% #* National Beverage Corp. 50,259 1,262,506 0.0% * Natural Alternatives International, Inc. 7,028 43,082 0.0% Nature's Sunshine Products, Inc. 400 5,960 0.0% # Nu Skin Enterprises, Inc. Class A 62,985 3,327,498 0.0% #* Nutraceutical International Corp. 14,920 335,402 0.0% # Oil-Dri Corp. of America 10,212 308,198 0.0% #* Omega Protein Corp. 51,443 743,351 0.0% # Orchids Paper Products Co. 5,292 152,198 0.0% * Pantry, Inc. (The) 63,621 1,639,513 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Staples -- (Continued) PepsiCo, Inc. 395,385 $ 38,024,175 0.3% Philip Morris International, Inc. 247,447 22,025,257 0.2% #* Pilgrim's Pride Corp. 253,171 7,192,588 0.1% Pinnacle Foods, Inc. 42,652 1,441,638 0.0% #* Post Holdings, Inc. 74,811 2,805,413 0.0% # Pricesmart, Inc. 39,767 3,540,456 0.0% Procter & Gamble Co. (The) 646,219 56,395,532 0.4% Reliv International, Inc. 8,132 9,840 0.0% #* Revlon, Inc. Class A 45,959 1,576,394 0.0% Reynolds American, Inc. 85,900 5,403,969 0.1% * Rite Aid Corp. 671,134 3,523,453 0.0% Rocky Mountain Chocolate Factory, Inc. 10,758 130,064 0.0% # Roundy's, Inc. 6,131 20,661 0.0% Safeway, Inc. 240,783 8,393,695 0.1% # Sanderson Farms, Inc. 87,476 7,346,234 0.1% * Seaboard Corp. 1,240 3,810,359 0.0% #* Seneca Foods Corp. Class A 13,971 375,540 0.0% * Seneca Foods Corp. Class B 1,999 60,420 0.0% # Snyder's-Lance, Inc. 111,753 3,329,122 0.0% SpartanNash Co. 64,927 1,455,014 0.0% Spectrum Brands Holdings, Inc. 89,716 8,127,372 0.1% #* Sprouts Farmers Market, Inc. 27,107 789,085 0.0% #* SUPERVALU, Inc. 366,527 3,163,128 0.0% Sysco Corp. 117,961 4,546,217 0.0% * Tofutti Brands, Inc. 1,645 8,209 0.0% # Tootsie Roll Industries, Inc. 61,827 1,833,171 0.0% #* TreeHouse Foods, Inc. 66,016 5,622,583 0.1% Tyson Foods, Inc. Class A 384,652 15,520,708 0.1% #* United Natural Foods, Inc. 73,397 4,992,464 0.0% # United-Guardian, Inc. 4,655 97,103 0.0% # Universal Corp. 35,612 1,584,734 0.0% #* USANA Health Sciences, Inc. 22,158 2,525,569 0.0% # Vector Group, Ltd. 86,552 1,933,572 0.0% # Village Super Market, Inc. Class A 10,894 302,309 0.0% Wal-Mart Stores, Inc. 773,229 58,974,176 0.5% Walgreen Co. 304,465 19,552,742 0.2% # WD-40 Co. 25,081 1,922,960 0.0% # Weis Markets, Inc. 40,839 1,823,053 0.0% * WhiteWave Foods Co. (The) Class A 157,177 5,851,700 0.1% Whole Foods Market, Inc. 111,644 4,390,959 0.0% -------------------- ------------------ Total Consumer Staples 784,987,280 6.1% -------------------- ------------------ Energy -- (9.8%) #* Abraxas Petroleum Corp. 37,774 156,007 0.0% Adams Resources & Energy, Inc. 6,454 271,391 0.0% # Alon USA Energy, Inc. 116,337 1,866,045 0.0% #* Alpha Natural Resources, Inc. 363,138 711,750 0.0% Anadarko Petroleum Corp. 422,817 38,806,144 0.3% Apache Corp. 231,068 17,838,450 0.1% #* Approach Resources, Inc. 49,529 490,337 0.0% # Arch Coal, Inc. 334,373 722,246 0.0% #* Atwood Oceanics, Inc. 116,083 4,718,774 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Energy -- (Continued) Baker Hughes, Inc. 223,782 $ 11,851,495 0.1% * Barnwell Industries, Inc. 10,714 27,428 0.0% * Basic Energy Services, Inc. 86,417 1,114,779 0.0% #* Bill Barrett Corp. 91,309 1,387,897 0.0% Bolt Technology Corp. 13,925 305,375 0.0% #* Bonanza Creek Energy, Inc. 116,555 5,272,948 0.1% #* BPZ Resources, Inc. 187,459 232,449 0.0% # Bristow Group, Inc. 59,800 4,419,220 0.0% #* C&J Energy Services, Inc. 110,752 2,138,621 0.0% Cabot Oil & Gas Corp. 392,938 12,220,372 0.1% #* Cal Dive International, Inc. 136,372 13,637 0.0% * Callon Petroleum Co. 110,731 726,395 0.0% * Cameron International Corp. 200,475 11,938,286 0.1% # CARBO Ceramics, Inc. 30,729 1,587,767 0.0% * Carrizo Oil & Gas, Inc. 118,082 6,133,179 0.1% * Cheniere Energy, Inc. 109,205 8,190,375 0.1% # Chesapeake Energy Corp. 871,022 19,319,268 0.2% Chevron Corp. 1,126,532 135,127,513 1.1% Cimarex Energy Co. 107,452 12,214,069 0.1% #* Clayton Williams Energy, Inc. 29,969 2,491,623 0.0% #* Clean Energy Fuels Corp. 131,913 964,284 0.0% #* Cloud Peak Energy, Inc. 125,690 1,504,509 0.0% #* Cobalt International Energy, Inc. 44,631 522,629 0.0% # Comstock Resources, Inc. 79,403 940,132 0.0% * Concho Resources, Inc. 113,072 12,328,240 0.1% ConocoPhillips 925,168 66,750,871 0.5% CONSOL Energy, Inc. 135,371 4,981,653 0.0% * Contango Oil & Gas Co. 32,204 1,177,700 0.0% #* Continental Resources, Inc. 16,490 929,541 0.0% Core Laboratories NV 13,711 1,913,096 0.0% # CVR Energy, Inc. 30,518 1,482,564 0.0% # Dawson Geophysical Co. 13,291 225,814 0.0% Delek US Holdings, Inc. 134,749 4,566,644 0.0% # Denbury Resources, Inc. 499,103 6,188,877 0.1% Devon Energy Corp. 212,328 12,739,680 0.1% # DHT Holdings, Inc. 11,574 77,083 0.0% # Diamond Offshore Drilling, Inc. 173,357 6,537,292 0.1% * Diamondback Energy, Inc. 54,727 3,745,516 0.0% * Dresser-Rand Group, Inc. 69,363 5,666,957 0.1% * Dril-Quip, Inc. 49,886 4,487,246 0.0% #* Emerald Oil, Inc. 95,689 304,291 0.0% Energen Corp. 50,283 3,404,159 0.0% # Energy XXI Bermuda, Ltd. 165,536 1,272,972 0.0% * ENGlobal Corp. 27,850 36,484 0.0% EnLink Midstream LLC 90,682 3,436,848 0.0% EOG Resources, Inc. 548,973 52,179,884 0.4% EQT Corp. 41,423 3,895,419 0.0% * Era Group, Inc. 44,970 1,051,848 0.0% * Escalera Resources Co. 13,728 15,513 0.0% Evolution Petroleum Corp. 23,938 226,453 0.0% # Exterran Holdings, Inc. 108,389 4,262,939 0.0% Exxon Mobil Corp. 3,041,760 294,168,610 2.3% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Energy -- (Continued) #* FieldPoint Petroleum Corp. 9,928 $ 28,096 0.0% * FMC Technologies, Inc. 87,291 4,891,788 0.0% * Forbes Energy Services, Ltd. 1,485 4,277 0.0% #* Forest Oil Corp. 12,975 10,510 0.0% * Forum Energy Technologies, Inc. 25,652 700,300 0.0% # GasLog, Ltd. 53,218 1,107,999 0.0% * Gastar Exploration, Inc. 155,807 623,228 0.0% #* Geospace Technologies Corp. 18,034 555,267 0.0% #* Goodrich Petroleum Corp. 8,198 67,552 0.0% * Green Brick Partners, Inc. 586 3,873 0.0% # Green Plains, Inc. 69,330 2,371,086 0.0% * Gulf Coast Ultra Deep Royalty Trust 203,138 325,021 0.0% # Gulf Island Fabrication, Inc. 22,399 473,515 0.0% # Gulfmark Offshore, Inc. Class A 47,667 1,437,637 0.0% * Gulfport Energy Corp. 103,910 5,214,204 0.1% #* Halcon Resources Corp. 130,632 406,266 0.0% Halliburton Co. 331,228 18,263,912 0.2% #* Harvest Natural Resources, Inc. 65,844 244,940 0.0% * Helix Energy Solutions Group, Inc. 240,621 6,410,143 0.1% Helmerich & Payne, Inc. 117,824 10,229,480 0.1% #* Hercules Offshore, Inc. 251,482 414,945 0.0% Hess Corp. 175,764 14,906,545 0.1% * HKN, Inc. 278 18,348 0.0% HollyFrontier Corp. 233,319 10,588,016 0.1% #* Hornbeck Offshore Services, Inc. 67,568 2,071,635 0.0% #* ION Geophysical Corp. 274,554 768,751 0.0% * Key Energy Services, Inc. 309,215 940,014 0.0% Kinder Morgan, Inc. 670,171 25,935,618 0.2% * Kodiak Oil & Gas Corp. 579,506 6,252,870 0.1% * Kosmos Energy, Ltd. 99,486 928,204 0.0% #* Laredo Petroleum Holdings, Inc. 175,607 3,329,509 0.0% # LinnCo LLC 160,189 3,839,730 0.0% #* Magnum Hunter Resources Corp. 91,252 423,409 0.0% Marathon Oil Corp. 533,204 18,875,422 0.2% Marathon Petroleum Corp. 235,457 21,403,041 0.2% #* Matador Resources Co. 157,654 3,826,263 0.0% * Matrix Service Co. 54,281 1,360,282 0.0% #* McDermott International, Inc. 345,195 1,325,549 0.0% #* Mexco Energy Corp. 2,059 12,251 0.0% * Mitcham Industries, Inc. 18,174 185,375 0.0% # Murphy Oil Corp. 101,337 5,410,382 0.1% Nabors Industries, Ltd. 480,766 8,581,673 0.1% National Oilwell Varco, Inc. 229,138 16,644,584 0.1% * Natural Gas Services Group, Inc. 19,519 502,224 0.0% * Newfield Exploration Co. 280,620 9,151,018 0.1% #* Newpark Resources, Inc. 157,288 1,797,802 0.0% # Noble Corp. P.L.C. 267,780 5,601,958 0.1% Noble Energy, Inc. 210,650 12,139,759 0.1% #* Nordic American Offshore, Ltd. 78 1,248 0.0% # Nordic American Tankers, Ltd. 9,013 76,160 0.0% #* Northern Oil and Gas, Inc. 123,983 1,401,008 0.0% #* Nuverra Environmental Solutions, Inc. 40,056 379,330 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Energy -- (Continued) #* Oasis Petroleum, Inc. 203,614 $ 6,100,275 0.1% Occidental Petroleum Corp. 592,054 52,651,362 0.4% # Oceaneering International, Inc. 131,343 9,229,473 0.1% * Oil States International, Inc. 122,196 7,299,989 0.1% ONEOK, Inc. 267,903 15,790,203 0.1% #* Overseas Shipholding Group, Inc. 43,852 225,838 0.0% # Panhandle Oil and Gas, Inc. Class A 38,940 800,606 0.0% #* Paragon Offshore P.L.C. 89,260 434,696 0.0% * Parker Drilling Co. 212,004 941,298 0.0% Patterson-UTI Energy, Inc. 251,688 5,796,375 0.1% PBF Energy, Inc. Class A 88,009 2,294,395 0.0% #* PDC Energy, Inc. 73,165 3,198,774 0.0% # Peabody Energy Corp. 405,544 4,229,824 0.0% #* Penn Virginia Corp. 144,630 1,239,479 0.0% #* PetroQuest Energy, Inc. 255,064 1,198,801 0.0% #* PHI, Inc. Non-Voting 20,171 902,451 0.0% #* PHI, Inc. Voting 2,686 114,182 0.0% Phillips 66 242,680 19,050,380 0.2% * Pioneer Energy Services Corp. 103,030 945,815 0.0% Pioneer Natural Resources Co. 27,954 5,284,983 0.1% * PostRock Energy Corp. 1,400 1,008 0.0% QEP Resources, Inc. 351,335 8,807,968 0.1% Range Resources Corp. 72,807 4,979,999 0.0% #* Renewable Energy Group, Inc. 50,187 528,469 0.0% #* REX American Resources Corp. 14,981 1,090,018 0.0% #* Rex Energy Corp. 120,928 948,076 0.0% #* RigNet, Inc. 10,342 449,360 0.0% * Rosetta Resources, Inc. 140,100 5,328,003 0.1% Rowan Cos. P.L.C. Class A 213,691 5,186,281 0.0% #* Royale Energy, Inc. 3,300 8,646 0.0% RPC, Inc. 237,456 3,894,278 0.0% #* SandRidge Energy, Inc. 875,103 3,412,902 0.0% Schlumberger, Ltd. 403,889 39,847,689 0.3% # Scorpio Tankers, Inc. 251,156 2,192,592 0.0% #* SEACOR Holdings, Inc. 41,789 3,445,503 0.0% SemGroup Corp. Class A 71,694 5,502,514 0.1% * Seventy Seven Energy, Inc. 52,244 682,829 0.0% # Ship Finance International, Ltd. 143,470 2,466,249 0.0% # SM Energy Co. 147,775 8,319,732 0.1% * Southwestern Energy Co. 467,197 15,188,574 0.1% Spectra Energy Corp. 102,350 4,004,956 0.0% * Steel Excel, Inc. 15,552 474,336 0.0% #* Stone Energy Corp. 114,356 2,801,722 0.0% Superior Energy Services, Inc. 274,451 6,902,443 0.1% #* Swift Energy Co. 62,421 427,584 0.0% #* Synergy Resources Corp. 127,283 1,551,580 0.0% #* Synthesis Energy Systems, Inc. 45,358 46,719 0.0% Targa Resources Corp. 34,326 4,415,353 0.0% # Teekay Corp. 144,929 8,472,549 0.1% # Tesco Corp. 84,794 1,614,478 0.0% Tesoro Corp. 217,506 15,532,103 0.1% #* TETRA Technologies, Inc. 157,077 1,496,944 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Energy -- (Continued) * TGC Industries, Inc. 32,159 $ 100,979 0.0% # Tidewater, Inc. 100,569 3,707,979 0.0% # Transocean, Ltd. 284,322 8,481,325 0.1% #* Triangle Petroleum Corp. 177,056 1,372,184 0.0% #* Ultra Petroleum Corp. 96,263 2,194,796 0.0% * Unit Corp. 91,889 4,449,265 0.0% #* Uranium Energy Corp. 13,761 15,825 0.0% * Vaalco Energy, Inc. 138,378 1,026,765 0.0% Valero Energy Corp. 327,949 16,426,965 0.1% # W&T Offshore, Inc. 145,569 1,323,222 0.0% #* Warren Resources, Inc. 146,731 507,689 0.0% * Weatherford International P.L.C. 840,533 13,801,552 0.1% Western Refining, Inc. 234,166 10,675,628 0.1% * Westmoreland Coal Co. 26,420 966,179 0.0% * Whiting Petroleum Corp. 137,185 8,401,209 0.1% * Willbros Group, Inc. 97,252 570,869 0.0% Williams Cos., Inc. (The) 198,070 10,994,866 0.1% # World Fuel Services Corp. 124,820 5,147,577 0.0% * WPX Energy, Inc. 348,019 6,654,123 0.1% * Yuma Energy, Inc. 3,900 13,260 0.0% #* Zion Oil & Gas, Inc. 22,567 39,267 0.0% -------------------- ------------------ Total Energy 1,431,363,785 11.1% -------------------- ------------------ Financials -- (15.1%) * 1st Constitution Bancorp 3,197 35,503 0.0% # 1st Source Corp. 41,822 1,308,610 0.0% 1st United Bancorp, Inc. 39,952 353,575 0.0% Access National Corp. 11,632 195,999 0.0% ACE, Ltd. 179,796 19,651,703 0.2% * Affiliated Managers Group, Inc. 28,259 5,645,866 0.1% Aflac, Inc. 265,140 15,836,812 0.1% Alexander & Baldwin, Inc. 95,221 3,811,697 0.0% * Alleghany Corp. 17,816 7,915,292 0.1% Alliance Bancorp, Inc. of Pennsylvania 4,908 80,933 0.0% Allied World Assurance Co. Holdings AG 188,505 7,163,190 0.1% Allstate Corp. (The) 247,324 16,038,961 0.1% #* Altisource Asset Management Corp. 1,977 1,067,580 0.0% #* Altisource Portfolio Solutions SA 27,076 2,021,494 0.0% #* Ambac Financial Group, Inc. 18,470 422,594 0.0% Ameriana Bancorp 898 15,212 0.0% American Equity Investment Life Holding Co. 180,034 4,646,678 0.0% American Express Co. 264,871 23,825,146 0.2% American Financial Group, Inc. 156,168 9,343,531 0.1% * American Independence Corp. 1,038 11,408 0.0% American International Group, Inc. 789,495 42,293,247 0.3% # American National Bankshares, Inc. 8,116 196,407 0.0% American National Insurance Co. 32,458 3,702,809 0.0% * American River Bankshares 7,316 69,502 0.0% (Degree)* American Spectrum Realty, Inc. 1,280 2,150 0.0% Ameriprise Financial, Inc. 171,704 21,663,894 0.2% Ameris Bancorp 43,514 1,079,147 0.0% AMERISAFE, Inc. 34,351 1,432,437 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) # AmeriServ Financial, Inc. 18,864 $ 59,422 0.0% # Amtrust Financial Services, Inc. 127,459 5,719,085 0.1% Aon P.L.C. 129,657 11,150,502 0.1% * Arch Capital Group, Ltd. 129,863 7,313,884 0.1% Argo Group International Holdings, Ltd. 49,201 2,745,416 0.0% # Arrow Financial Corp. 19,116 523,587 0.0% Arthur J Gallagher & Co. 93,055 4,438,723 0.0% # Artisan Partners Asset Management, Inc. Class A 7,378 357,685 0.0% Aspen Insurance Holdings, Ltd. 115,188 5,025,652 0.0% Associated Banc-Corp 318,529 5,988,345 0.1% Assurant, Inc. 137,241 9,362,581 0.1% Assured Guaranty, Ltd. 319,214 7,367,459 0.1% * Asta Funding, Inc. 19,482 164,233 0.0% Astoria Financial Corp. 211,474 2,780,883 0.0% Atlantic American Corp. 11,687 45,112 0.0% #* Atlantic Coast Financial Corp. 1,723 7,099 0.0% #* Atlanticus Holdings Corp. 36,049 50,469 0.0% # Auburn National Bancorporation, Inc. 1,955 45,884 0.0% #* AV Homes, Inc. 16,627 249,239 0.0% Axis Capital Holdings, Ltd. 164,927 7,939,586 0.1% Baldwin & Lyons, Inc. Class A 2,126 52,130 0.0% Baldwin & Lyons, Inc. Class B 15,999 430,693 0.0% # Banc of California, Inc. 16,862 198,466 0.0% # Bancfirst Corp. 26,767 1,739,855 0.0% Bancorp of New Jersey, Inc. 200 2,409 0.0% #* Bancorp, Inc. 62,463 590,900 0.0% # BancorpSouth, Inc. 227,848 5,247,339 0.1% Bank Mutual Corp. 73,343 483,330 0.0% Bank of America Corp. 4,303,562 73,849,124 0.6% Bank of Commerce Holdings 8,161 49,374 0.0% # Bank of Hawaii Corp. 81,204 4,754,494 0.0% Bank of Kentucky Financial Corp (The) 5,476 256,879 0.0% Bank of New York Mellon Corp. (The) 398,582 15,433,095 0.1% # Bank of the Ozarks, Inc. 121,508 4,281,942 0.0% # BankFinancial Corp. 27,930 333,205 0.0% BankUnited, Inc. 173,510 5,187,949 0.1% Banner Corp. 43,214 1,867,709 0.0% Bar Harbor Bankshares 7,620 221,742 0.0% BB&T Corp. 302,056 11,441,881 0.1% BBCN Bancorp, Inc. 179,553 2,538,879 0.0% #* BBX Capital Corp. Class A 2,975 54,740 0.0% BCB Bancorp, Inc. 9,933 128,036 0.0% * Bear State Financial, Inc. 5,920 53,102 0.0% #* Beneficial Mutual Bancorp, Inc. 118,150 1,586,754 0.0% Berkshire Bancorp, Inc. 3,850 32,244 0.0% * Berkshire Hathaway, Inc. Class B 311,601 43,673,996 0.3% Berkshire Hills Bancorp, Inc. 40,982 1,056,516 0.0% BGC Partners, Inc. Class A 651,709 5,526,492 0.1% BlackRock, Inc. 73,133 24,946,398 0.2% #* BofI Holding, Inc. 30,868 2,377,453 0.0% # BOK Financial Corp. 100,294 6,876,157 0.1% Boston Private Financial Holdings, Inc. 149,112 1,960,823 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) # Bridge Bancorp, Inc. 6,184 $ 162,392 0.0% #* Bridge Capital Holdings 11,048 266,478 0.0% Brookline Bancorp, Inc. 144,783 1,388,469 0.0% Brown & Brown, Inc. 254,904 8,121,241 0.1% # Bryn Mawr Bank Corp. 23,090 711,865 0.0% C&F Financial Corp. 2,201 75,582 0.0% Calamos Asset Management, Inc. Class A 34,076 466,841 0.0% California First National Bancorp 8,102 122,340 0.0% # Camden National Corp. 12,683 518,862 0.0% # Cape Bancorp, Inc. 6,875 61,256 0.0% #* Capital Bank Financial Corp. Class A 3,547 91,832 0.0% # Capital City Bank Group, Inc. 22,959 346,910 0.0% Capital One Financial Corp. 316,576 26,202,996 0.2% (Degree) Capital Properties, Inc., 5.000% 1,260 1,248 0.0% * Capital Properties, Inc. Class A 1,400 17,038 0.0% # Capital Southwest Corp. 15,329 561,961 0.0% Capitol Federal Financial, Inc. 300,946 3,855,118 0.0% # Cardinal Financial Corp. 63,002 1,209,638 0.0% * Carolina Bank Holdings, Inc. 1,200 11,352 0.0% #* Cascade Bancorp 37,490 191,574 0.0% # Cash America International, Inc. 57,978 2,849,619 0.0% Cathay General Bancorp 178,240 4,707,318 0.0% CBOE Holdings, Inc. 70,578 4,159,867 0.0% * CBRE Group, Inc. Class A 116,493 3,727,776 0.0% # Centerstate Banks, Inc. 50,987 593,489 0.0% Central Pacific Financial Corp. 26,380 498,582 0.0% # Century Bancorp, Inc. Class A 3,952 150,097 0.0% Charles Schwab Corp. (The) 239,046 6,853,449 0.1% # Charter Financial Corp. 4,056 45,995 0.0% Chemical Financial Corp. 48,863 1,455,140 0.0% Chicopee Bancorp, Inc. 7,105 105,793 0.0% Chubb Corp. (The) 102,145 10,149,127 0.1% # Cincinnati Financial Corp. 149,459 7,543,196 0.1% CIT Group, Inc. 184,507 9,027,928 0.1% Citigroup, Inc. 1,297,954 69,479,478 0.5% Citizens Community Bancorp, Inc. 5,940 52,866 0.0% # Citizens Holding Co. 2,412 45,225 0.0% #* Citizens, Inc. 78,314 570,909 0.0% # City Holding Co. 27,114 1,219,859 0.0% City National Corp. 92,950 7,316,094 0.1% CKX Lands, Inc. 2,161 34,598 0.0% # Clifton Bancorp, Inc. 37,357 486,388 0.0% CME Group, Inc. 144,165 12,082,469 0.1% CNA Financial Corp. 176,871 6,912,119 0.1% # CNB Financial Corp. 13,395 242,583 0.0% CNO Financial Group, Inc. 360,876 6,542,682 0.1% # CoBiz Financial, Inc. 65,751 790,327 0.0% Codorus Valley Bancorp, Inc. 3,285 71,031 0.0% # Cohen & Steers, Inc. 21,767 932,934 0.0% * Colonial Financial Services, Inc. 2,537 32,956 0.0% * Colony Bankcorp, Inc. 3,512 24,584 0.0% # Columbia Banking System, Inc. 100,661 2,796,363 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) Comerica, Inc. 168,245 $ 8,032,016 0.1% # Commerce Bancshares, Inc. 166,119 7,518,546 0.1% Commercial National Financial Corp. 2,306 49,003 0.0% # Community Bank System, Inc. 83,077 3,169,388 0.0% * Community Bankers Trust Corp. 1,768 7,779 0.0% # Community Trust Bancorp, Inc. 30,149 1,083,857 0.0% Community West Bancshares 3,113 20,079 0.0% * CommunityOne Bancorp 122 1,298 0.0% ConnectOne Bancorp, Inc. 25,259 467,292 0.0% # Consolidated-Tomoka Land Co. 10,564 551,335 0.0% * Consumer Portfolio Services, Inc. 27,948 197,313 0.0% #* Cowen Group, Inc. Class A 192,855 779,134 0.0% Crawford & Co. Class A 36,655 323,297 0.0% # Crawford & Co. Class B 39,704 404,187 0.0% #* Credit Acceptance Corp. 27,439 4,048,899 0.0% # Cullen/Frost Bankers, Inc. 104,895 8,476,565 0.1% # CVB Financial Corp. 174,616 2,755,440 0.0% # Diamond Hill Investment Group, Inc. 2,604 348,910 0.0% # Dime Community Bancshares, Inc. 76,007 1,197,110 0.0% Discover Financial Services 238,701 15,224,350 0.1% Donegal Group, Inc. Class A 35,381 559,727 0.0% Donegal Group, Inc. Class B 5,678 119,238 0.0% #* Doral Financial Corp. 339 1,970 0.0% * E*TRADE Financial Corp. 370,408 8,260,098 0.1% Eagle Bancorp Montana, Inc. 751 8,036 0.0% East West Bancorp, Inc. 244,345 8,982,122 0.1% * Eastern Virginia Bankshares, Inc. 3,292 20,377 0.0% Eaton Vance Corp. 92,490 3,406,407 0.0% #* eHealth, Inc. 24,072 600,596 0.0% # EMC Insurance Group, Inc. 21,083 675,499 0.0% Employers Holdings, Inc. 55,850 1,138,781 0.0% #* Encore Capital Group, Inc. 42,365 1,928,031 0.0% Endurance Specialty Holdings, Ltd. 100,335 5,814,413 0.1% * Enstar Group, Ltd. 23,735 3,514,441 0.0% # Enterprise Bancorp, Inc. 8,838 207,958 0.0% # Enterprise Financial Services Corp. 27,867 525,293 0.0% Erie Indemnity Co. Class A 47,181 4,004,251 0.0% # ESB Financial Corp. 20,940 390,740 0.0% ESSA Bancorp, Inc. 21,343 245,231 0.0% Evans Bancorp, Inc. 2,684 62,390 0.0% # EverBank Financial Corp. 2,679 51,303 0.0% Evercore Partners, Inc. Class A 63,483 3,286,515 0.0% Everest Re Group, Ltd. 57,189 9,759,303 0.1% #* Ezcorp, Inc. Class A 108,371 1,222,425 0.0% #* Farmers Capital Bank Corp. 6,545 146,870 0.0% FBL Financial Group, Inc. Class A 44,583 2,210,425 0.0% Federal Agricultural Mortgage Corp. Class A 1,506 36,897 0.0% Federal Agricultural Mortgage Corp. Class C 15,708 523,076 0.0% # Federated Investors, Inc. Class B 83,501 2,611,076 0.0% Federated National Holding Co. 28,852 965,388 0.0% # Fidelity Southern Corp. 9,904 152,026 0.0% Fifth Third Bancorp 789,119 15,774,489 0.1% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) # Financial Engines, Inc. 7,048 $ 281,004 0.0% # Financial Institutions, Inc. 23,716 596,220 0.0% * First Acceptance Corp. 34,466 88,233 0.0% # First American Financial Corp. 181,206 5,494,166 0.1% First Bancorp of Indiana, Inc. 700 10,689 0.0% # First Bancorp, Inc. 12,744 225,441 0.0% * First BanCorp.(318672706) 61,902 322,509 0.0% # First Bancorp.(318910106) 26,904 487,500 0.0% * First Bancshares, Inc. 569 3,966 0.0% First Bancshares, Inc. (The) 588 8,844 0.0% # First Busey Corp. 148,919 930,744 0.0% # First Business Financial Services, Inc. 2,063 96,817 0.0% * First Cash Financial Services, Inc. 53,979 3,189,079 0.0% First Citizens BancShares, Inc. Class A 12,723 3,196,145 0.0% # First Commonwealth Financial Corp. 216,626 2,025,453 0.0% First Community Bancshares, Inc. 28,521 466,889 0.0% First Defiance Financial Corp. 13,493 413,291 0.0% First Federal of Northern Michigan Bancorp, Inc. 1,458 7,130 0.0% First Financial Bancorp 110,941 1,945,905 0.0% # First Financial Bankshares, Inc. 100,332 3,188,551 0.0% # First Financial Corp. 22,665 786,022 0.0% First Financial Northwest, Inc. 21,460 248,936 0.0% * First Financial Service Corp. 1,956 7,237 0.0% # First Horizon National Corp. 493,538 6,346,899 0.1% First Interstate Bancsystem, Inc. 35,744 1,048,729 0.0% #* First Marblehead Corp. (The) 11,556 28,543 0.0% First Merchants Corp. 55,036 1,246,565 0.0% First Midwest Bancorp, Inc. 162,491 2,728,224 0.0% * First NBC Bank Holding Co. 1,954 71,770 0.0% First Niagara Financial Group, Inc. 593,267 4,443,570 0.0% (Degree)* First Place Financial Corp. 23,310 2 0.0% First Republic Bank 85,778 4,368,674 0.0% First South Bancorp, Inc. 10,177 83,960 0.0% * First United Corp. 5,415 46,298 0.0% First West Virginia Bancorp 752 15,032 0.0% FirstMerit Corp. 282,595 5,185,618 0.1% * Flagstar Bancorp, Inc. 55,490 872,303 0.0% # Flushing Financial Corp. 55,415 1,116,058 0.0% # FNB Corp. 330,204 4,223,309 0.0% FNF Group 339,723 10,137,334 0.1% * FNFV Group 113,229 1,521,798 0.0% * Forest City Enterprises, Inc. Class A 306,812 6,409,303 0.1% * Forest City Enterprises, Inc. Class B 13,338 279,364 0.0% #* Forestar Group, Inc. 68,944 1,203,073 0.0% * Fortegra Financial Corp. 1,154 11,402 0.0% Fox Chase Bancorp, Inc. 26,803 439,033 0.0% #* Franklin Financial Corp. 1,219 25,306 0.0% Franklin Resources, Inc. 110,494 6,144,571 0.1% Fulton Financial Corp. 437,673 5,199,555 0.1% # FXCM, Inc. Class A 68,244 1,123,296 0.0% # Gain Capital Holdings, Inc. 40,643 347,904 0.0% * GAINSCO, Inc. 1,100 11,550 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) # GAMCO Investors, Inc. Class A 8,812 $ 728,047 0.0% * Genworth Financial, Inc. Class A 482,427 6,749,154 0.1% # German American Bancorp, Inc. 18,570 554,686 0.0% # GFI Group, Inc. 186,276 1,024,518 0.0% Glacier Bancorp, Inc. 122,344 3,510,049 0.0% #* Global Indemnity P.L.C. 27,951 810,020 0.0% Goldman Sachs Group, Inc. (The) 185,924 35,323,701 0.3% Gouverneur Bancorp, Inc. 600 7,020 0.0% # Great Southern Bancorp, Inc. 20,689 786,389 0.0% #* Green Dot Corp. Class A 59,603 1,424,512 0.0% # Greenhill & Co., Inc. 32,062 1,442,790 0.0% * Greenlight Capital Re, Ltd. Class A 56,746 1,841,408 0.0% # Griffin Land & Nurseries, Inc. 6,027 157,606 0.0% # Guaranty Bancorp 5,874 92,633 0.0% Guaranty Federal Bancshares, Inc. 1,840 23,359 0.0% #* Hallmark Financial Services, Inc. 25,575 298,205 0.0% # Hampden Bancorp, Inc. 4,784 82,285 0.0% * Hampton Roads Bankshares, Inc. 912 1,587 0.0% Hancock Holding Co. 142,736 5,022,880 0.0% Hanmi Financial Corp. 66,551 1,427,519 0.0% Hanover Insurance Group, Inc. (The) 102,986 6,893,883 0.1% Harleysville Savings Financial Corp. 3,569 60,138 0.0% Hartford Financial Services Group, Inc. (The) 412,127 16,311,987 0.1% Hawthorn Bancshares, Inc. 2,792 38,418 0.0% HCC Insurance Holdings, Inc. 176,004 9,185,649 0.1% # HCI Group, Inc. 26,571 1,350,870 0.0% # Heartland Financial USA, Inc. 28,015 745,199 0.0% # Heritage Commerce Corp. 36,457 317,176 0.0% Heritage Financial Corp. 44,738 785,152 0.0% Heritage Financial Group, Inc. 9,512 201,559 0.0% HF Financial Corp. 5,606 76,186 0.0% HFF, Inc. Class A 71,749 2,258,659 0.0% * Hilltop Holdings, Inc. 141,945 3,127,048 0.0% # Hingham Institution for Savings 1,548 128,051 0.0% * HMN Financial, Inc. 2,615 33,890 0.0% * Home Bancorp, Inc. 8,770 199,868 0.0% # Home BancShares, Inc. 94,357 3,011,875 0.0% * HomeTrust Bancshares, Inc. 719 11,109 0.0% HopFed Bancorp, Inc. 3,213 36,757 0.0% Horace Mann Educators Corp. 61,432 1,868,147 0.0% # Horizon Bancorp 4,783 123,019 0.0% * Howard Hughes Corp. (The) 64,985 9,577,489 0.1% Hudson City Bancorp, Inc. 798,053 7,701,211 0.1% # Hudson Valley Holding Corp. 25,014 568,818 0.0% Huntington Bancshares, Inc. 892,285 8,842,544 0.1% Iberiabank Corp. 65,428 4,505,372 0.0% #* Imperial Holdings, Inc. 1,691 10,603 0.0% # Independence Holding Co. 18,425 260,714 0.0% # Independent Bank Corp.(453836108) 40,477 1,651,462 0.0% # Independent Bank Corp.(453838609) 8,213 99,131 0.0% # Independent Bank Group, Inc. 316 14,122 0.0% Infinity Property & Casualty Corp. 19,978 1,458,594 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) Interactive Brokers Group, Inc. Class A 134,955 $ 3,484,538 0.0% Intercontinental Exchange, Inc. 47,444 9,882,111 0.1% * InterGroup Corp. (The) 677 12,863 0.0% International Bancshares Corp. 116,047 3,292,253 0.0% Intervest Bancshares Corp. Class A 23,302 227,195 0.0% #* INTL. FCStone, Inc. 29,319 530,674 0.0% Invesco, Ltd. 375,567 15,199,196 0.1% * Investment Technology Group, Inc. 59,800 1,072,214 0.0% # Investors Bancorp, Inc. 575,581 6,187,496 0.1% Investors Title Co. 2,281 170,961 0.0% # Iron Mountain, Inc. 214,499 7,736,979 0.1% #* Jacksonville Bancorp, Inc. 22 235 0.0% # Janus Capital Group, Inc. 299,466 4,488,995 0.0% JMP Group, Inc. 30,003 219,022 0.0% Jones Lang LaSalle, Inc. 72,712 9,831,390 0.1% JPMorgan Chase & Co. 1,554,077 93,990,577 0.7% * KCG Holdings, Inc. Class A 14,443 153,962 0.0% #* Kearny Financial Corp. 96,018 1,367,296 0.0% # Kemper Corp. 115,285 4,248,252 0.0% Kennedy-Wilson Holdings, Inc. 108,724 2,945,333 0.0% Kentucky First Federal Bancorp 3,283 26,888 0.0% KeyCorp 810,936 10,704,355 0.1% #* Ladenburg Thalmann Financial Services, Inc. 7,506 32,051 0.0% Lake Shore Bancorp, Inc. 449 6,219 0.0% Lakeland Bancorp, Inc. 53,747 590,680 0.0% # Lakeland Financial Corp. 26,619 1,103,091 0.0% Landmark Bancorp, Inc. 2,422 57,886 0.0% Legg Mason, Inc. 222,398 11,564,696 0.1% Leucadia National Corp. 346,488 8,239,485 0.1% # Life Partners Holdings, Inc. 19,377 35,460 0.0% Lincoln National Corp. 239,090 13,092,568 0.1% LNB Bancorp, Inc. 13,999 196,546 0.0% Loews Corp. 228,808 9,976,029 0.1% Louisiana Bancorp, Inc. 3,600 75,168 0.0% LPL Financial Holdings, Inc. 134,021 5,547,129 0.1% LSB Financial Corp. 837 36,476 0.0% # M&T Bank Corp. 112,759 13,776,895 0.1% # Macatawa Bank Corp. 39,247 204,477 0.0% * Magyar Bancorp, Inc. 2,122 18,440 0.0% # Maiden Holdings, Ltd. 140,896 1,683,707 0.0% # MainSource Financial Group, Inc. 30,280 550,793 0.0% * Malvern Bancorp, Inc. 694 7,787 0.0% Manning & Napier, Inc. 3,895 61,697 0.0% #* Markel Corp. 18,847 13,021,204 0.1% # MarketAxess Holdings, Inc. 55,975 3,618,784 0.0% Marlin Business Services Corp. 20,780 439,289 0.0% Marsh & McLennan Cos., Inc. 132,000 7,176,840 0.1% #* Maui Land & Pineapple Co., Inc. 7,073 43,216 0.0% MB Financial, Inc. 130,034 4,102,573 0.0% * MBIA, Inc. 370,356 3,614,675 0.0% * MBT Financial Corp. 13,759 63,979 0.0% McGraw Hill Financial, Inc. 53,810 4,868,729 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) # Meadowbrook Insurance Group, Inc. 75,195 $ 478,992 0.0% # Medallion Financial Corp. 32,032 369,970 0.0% Mercantile Bank Corp. 17,291 341,151 0.0% # Merchants Bancshares, Inc. 9,216 274,545 0.0% # Mercury General Corp. 95,008 5,046,825 0.0% * Meridian Bancorp, Inc. 69,543 788,618 0.0% # Meta Financial Group, Inc. 3,022 113,355 0.0% MetLife, Inc. 390,841 21,199,216 0.2% * Metro Bancorp, Inc. 20,331 509,088 0.0% #* MGIC Investment Corp. 277,958 2,479,385 0.0% MicroFinancial, Inc. 16,382 137,445 0.0% Mid Penn Bancorp, Inc. 1,624 25,156 0.0% # MidSouth Bancorp, Inc. 12,123 229,610 0.0% # MidWestOne Financial Group, Inc. 7,672 204,689 0.0% # Montpelier Re Holdings, Ltd. 100,596 3,333,751 0.0% Moody's Corp. 79,899 7,928,378 0.1% Morgan Stanley 616,044 21,530,738 0.2% * MSB Financial Corp. 1,360 12,294 0.0% MSCI, Inc. 166,336 7,761,238 0.1% MutualFirst Financial, Inc. 6,697 145,660 0.0% NASDAQ OMX Group, Inc. (The) 216,461 9,364,103 0.1% National Bank Holdings Corp. Class A 812 15,907 0.0% # National Interstate Corp. 27,018 768,392 0.0% National Penn Bancshares, Inc. 299,288 3,079,678 0.0% National Security Group, Inc. (The) 977 13,297 0.0% # National Western Life Insurance Co. Class A 3,479 942,809 0.0% #* Nationstar Mortgage Holdings, Inc. 19,504 684,980 0.0% * Naugatuck Valley Financial Corp. 2,250 17,888 0.0% Navient Corp. 386,302 7,641,054 0.1% * Navigators Group, Inc. (The) 25,143 1,711,987 0.0% # NBT Bancorp, Inc. 77,810 1,998,161 0.0% Nelnet, Inc. Class A 62,463 2,972,614 0.0% # New Hampshire Thrift Bancshares, Inc. 5,906 93,433 0.0% # New York Community Bancorp, Inc. 433,346 6,911,869 0.1% #* NewBridge Bancorp 16,536 147,005 0.0% #* NewStar Financial, Inc. 72,656 993,934 0.0% Nicholas Financial, Inc. 8,516 103,980 0.0% Northeast Bancorp 301 2,712 0.0% Northeast Community Bancorp, Inc. 10,493 73,451 0.0% Northern Trust Corp. 180,967 11,998,112 0.1% # Northfield Bancorp, Inc. 104,025 1,481,316 0.0% # Northrim BanCorp, Inc. 8,061 232,963 0.0% Northway Financial, Inc. 2,363 47,851 0.0% # Northwest Bancshares, Inc. 205,623 2,638,143 0.0% # Norwood Financial Corp. 2,272 65,820 0.0% # Ocean Shore Holding Co. 8,012 115,373 0.0% # OceanFirst Financial Corp. 28,564 473,305 0.0% #* Ocwen Financial Corp. 183,013 4,311,786 0.0% OFG Bancorp 120,028 1,868,836 0.0% Ohio Valley Banc Corp. 3,467 82,757 0.0% Old Line Bancshares, Inc. 4,134 66,061 0.0% Old National Bancorp 221,126 3,217,383 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) Old Republic International Corp. 445,788 $ 6,584,289 0.1% * Old Second Bancorp, Inc. 13,666 65,597 0.0% OmniAmerican Bancorp, Inc. 18,051 488,099 0.0% # OneBeacon Insurance Group, Ltd. Class A 46,988 748,519 0.0% Oppenheimer Holdings, Inc. Class A 13,829 339,502 0.0% # Oritani Financial Corp. 90,259 1,333,125 0.0% Pacific Continental Corp. 25,226 363,759 0.0% * Pacific Mercantile Bancorp 10,106 71,146 0.0% #* Pacific Premier Bancorp, Inc. 7,368 119,288 0.0% PacWest Bancorp 205,608 8,771,237 0.1% # Park National Corp. 21,931 1,850,318 0.0% Park Sterling Corp. 27,958 214,158 0.0% PartnerRe, Ltd. 96,568 11,171,952 0.1% * Patriot National Bancorp, Inc. 1,300 2,392 0.0% # Peapack Gladstone Financial Corp. 14,506 264,735 0.0% # Penns Woods Bancorp, Inc. 6,023 292,296 0.0% # People's United Financial, Inc. 552,133 8,072,184 0.1% Peoples Bancorp 1,479 35,718 0.0% Peoples Bancorp of North Carolina, Inc. 4,359 76,283 0.0% # Peoples Bancorp, Inc. 17,144 422,600 0.0% #* PHH Corp. 85,169 2,017,654 0.0% #* Phoenix Cos., Inc. (The) 8,763 520,172 0.0% #* PICO Holdings, Inc. 38,215 844,551 0.0% Pinnacle Financial Partners, Inc. 57,965 2,272,228 0.0% #* Piper Jaffray Cos. 23,362 1,319,019 0.0% Platinum Underwriters Holdings, Ltd. 60,202 3,770,451 0.0% PNC Financial Services Group, Inc. (The) 224,520 19,396,283 0.2% * Popular, Inc. 173,661 5,536,313 0.1% PRA Group, Inc. 112,149 7,093,424 0.1% Preferred Bank 4,437 117,935 0.0% Premier Financial Bancorp, Inc. 6,752 98,377 0.0% Primerica, Inc. 112,507 5,754,733 0.1% Principal Financial Group, Inc. 329,033 17,231,458 0.1% PrivateBancorp, Inc. 126,941 4,102,733 0.0% ProAssurance Corp. 107,455 5,026,745 0.0% Progressive Corp. (The) 622,018 16,427,495 0.1% # Prosperity Bancshares, Inc. 107,624 6,499,413 0.1% Protective Life Corp. 136,379 9,502,889 0.1% Provident Financial Holdings, Inc. 13,977 203,785 0.0% Provident Financial Services, Inc. 101,456 1,849,543 0.0% # Prudential Bancorp, Inc. 6,262 75,958 0.0% Prudential Financial, Inc. 194,894 17,255,915 0.1% * PSB Holdings, Inc. 3,341 25,592 0.0% Pulaski Financial Corp. 14,284 170,979 0.0% # Pzena Investment Management, Inc. Class A 7,981 80,209 0.0% * QC Holdings, Inc. 17,425 29,623 0.0% QCR Holdings, Inc. 2,716 48,209 0.0% # Radian Group, Inc. 195,407 3,292,608 0.0% Raymond James Financial, Inc. 160,094 8,986,076 0.1% # RCS Capital Corp. Class A 26,246 430,697 0.0% #* Realogy Holdings Corp. 84,003 3,444,963 0.0% #* Regional Management Corp. 4,340 50,604 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) Regions Financial Corp. 1,268,728 $ 12,598,469 0.1% Reinsurance Group of America, Inc. 123,189 10,378,673 0.1% # RenaissanceRe Holdings, Ltd. 79,147 8,178,260 0.1% # Renasant Corp. 46,426 1,399,744 0.0% Republic Bancorp, Inc. Class A 27,977 678,442 0.0% #* Republic First Bancorp, Inc. 20,055 79,618 0.0% # Resource America, Inc. Class A 36,988 352,866 0.0% * Riverview Bancorp, Inc. 12,542 51,046 0.0% # RLI Corp. 77,868 3,861,474 0.0% * Royal Bancshares of Pennsylvania, Inc. Class A 13,512 25,267 0.0% # S&T Bancorp, Inc. 50,542 1,394,454 0.0% #* Safeguard Scientifics, Inc. 34,390 686,080 0.0% Safety Insurance Group, Inc. 61,117 3,812,478 0.0% Salisbury Bancorp, Inc. 1,248 34,258 0.0% # Sandy Spring Bancorp, Inc. 39,949 1,030,684 0.0% SB Financial Group, Inc. 2,715 24,815 0.0% #* Seacoast Banking Corp. of Florida 12,166 155,238 0.0% * Security National Financial Corp. Class A 3,116 15,549 0.0% SEI Investments Co. 111,366 4,305,410 0.0% * Select Bancorp, Inc. 2,277 15,415 0.0% Selective Insurance Group, Inc. 91,857 2,371,748 0.0% #* Shore Bancshares, Inc. 6,595 60,542 0.0% SI Financial Group, Inc. 10,889 120,215 0.0% * Siebert Financial Corp. 8,302 18,181 0.0% # Sierra Bancorp 17,579 301,656 0.0% * Signature Bank 68,505 8,298,011 0.1% # Simmons First National Corp. Class A 29,381 1,233,708 0.0% Simplicity Bancorp, Inc. 11,596 192,146 0.0% SLM Corp. 967,420 9,238,861 0.1% South State Corp. 41,778 2,519,631 0.0% * Southcoast Financial Corp. 5,485 38,066 0.0% (Degree) Southern Community Financial Corp. 13,882 12,851 0.0% * Southern First Bancshares, Inc. 3,032 44,085 0.0% Southern Missouri Bancorp, Inc. 1,461 54,013 0.0% # Southern National Bancorp of Virginia, Inc. 1,825 21,134 0.0% # Southside Bancshares, Inc. 31,959 1,073,183 0.0% Southwest Bancorp, Inc. 30,163 543,839 0.0% Southwest Georgia Financial Corp. 1,954 26,379 0.0% #* St Joe Co. (The) 106,833 2,045,852 0.0% StanCorp Financial Group, Inc. 90,086 6,266,382 0.1% State Auto Financial Corp. 54,992 1,150,983 0.0% State Street Corp. 181,410 13,689,199 0.1% Sterling Bancorp 126,678 1,781,093 0.0% Stewart Information Services Corp. 46,746 1,651,069 0.0% * Stifel Financial Corp. 108,671 5,162,959 0.1% # Stock Yards Bancorp, Inc. 22,032 733,225 0.0% * Stratus Properties, Inc. 6,860 94,805 0.0% Suffolk Bancorp 19,605 450,131 0.0% Summit State Bank 4,397 56,677 0.0% #* Sun Bancorp, Inc. 10,180 205,636 0.0% SunTrust Banks, Inc. 216,237 8,463,516 0.1% Susquehanna Bancshares, Inc. 426,626 4,185,201 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) # Sussex Bancorp 2,871 $ 28,854 0.0% * SVB Financial Group 86,227 9,656,562 0.1% * SWS Group, Inc. 32,323 238,867 0.0% Symetra Financial Corp. 189,825 4,498,852 0.0% Synovus Financial Corp. 242,750 6,156,140 0.1% T Rowe Price Group, Inc. 51,606 4,236,337 0.0% TCF Financial Corp. 358,713 5,542,116 0.1% # TD Ameritrade Holding Corp. 441,139 14,884,030 0.1% #* Tejon Ranch Co. 33,119 999,531 0.0% # Territorial Bancorp, Inc. 16,671 358,093 0.0% # Teton Advisors, Inc. Class A 95 4,845 0.0% #* Texas Capital Bancshares, Inc. 69,835 4,270,410 0.0% TFS Financial Corp. 355,728 5,314,576 0.1% Timberland Bancorp, Inc. 5,770 60,931 0.0% # Tompkins Financial Corp. 20,439 1,026,038 0.0% Torchmark Corp. 125,912 6,668,300 0.1% # Towne Bank 44,760 678,562 0.0% * Transcontinental Realty Investors, Inc. 100 1,150 0.0% Travelers Cos., Inc. (The) 263,260 26,536,608 0.2% #* Tree.com, Inc. 18,558 686,460 0.0% # Trico Bancshares 25,949 682,459 0.0% #* Trinity Place Holdings, Inc. 10,474 60,330 0.0% # TrustCo Bank Corp. 163,861 1,196,185 0.0% Trustmark Corp. 145,668 3,544,102 0.0% U.S. Bancorp 1,031,884 43,958,258 0.4% # UMB Financial Corp. 75,320 4,487,566 0.0% Umpqua Holdings Corp. 210,516 3,705,082 0.0% #* Unico American Corp. 100 1,164 0.0% Union Bankshares Corp. 73,745 1,657,788 0.0% Union Bankshares, Inc. 2,439 59,731 0.0% # United Bancshares, Inc. 2,086 30,915 0.0% # United Bankshares, Inc. 111,987 3,838,914 0.0% United Community Bancorp 1,156 13,791 0.0% United Community Banks, Inc. 83,736 1,509,760 0.0% # United Community Financial Corp. 11,197 57,329 0.0% United Financial Bancorp, Inc. 81,522 1,143,754 0.0% United Fire Group, Inc. 51,432 1,670,511 0.0% #* United Security Bancshares 8,860 50,059 0.0% Unity Bancorp, Inc. 6,414 58,752 0.0% Universal Insurance Holdings, Inc. 133,147 2,330,072 0.0% Univest Corp. of Pennsylvania 27,994 574,437 0.0% Unum Group 232,854 7,791,295 0.1% Validus Holdings, Ltd. 182,557 7,262,117 0.1% # Valley National Bancorp 328,369 3,277,123 0.0% # ViewPoint Financial Group, Inc. 65,752 1,793,057 0.0% Virtus Investment Partners, Inc. 14,427 2,585,463 0.0% Voya Financial, Inc. 136,664 5,364,062 0.1% VSB Bancorp, Inc. 134 1,585 0.0% Waddell & Reed Financial, Inc. Class A 62,426 2,980,217 0.0% #* Walker & Dunlop, Inc. 17,247 277,849 0.0% Washington Federal, Inc. 234,825 5,126,230 0.1% # Washington Trust Bancorp, Inc. 27,109 1,040,172 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) Waterstone Financial, Inc. 26,989 $ 330,345 0.0% Wayne Savings Bancshares, Inc. 1,615 20,753 0.0% Webster Financial Corp. 209,020 6,550,687 0.1% Wells Fargo & Co. 2,946,809 156,446,090 1.2% # WesBanco, Inc. 45,338 1,562,347 0.0% # West Bancorporation, Inc. 23,486 389,398 0.0% # Westamerica Bancorporation 47,131 2,325,444 0.0% * Western Alliance Bancorp 179,550 4,779,621 0.0% Westfield Financial, Inc. 39,650 280,326 0.0% # Westwood Holdings Group, Inc. 8,589 579,757 0.0% Willis Group Holdings P.L.C. 162,234 6,575,344 0.1% Wilshire Bancorp, Inc. 190,925 1,890,157 0.0% Wintrust Financial Corp. 99,568 4,611,990 0.0% #* WisdomTree Investments, Inc. 102,904 1,517,834 0.0% #* World Acceptance Corp. 24,217 1,735,390 0.0% WR Berkley Corp. 153,925 7,933,294 0.1% WSFS Financial Corp. 1,798 141,413 0.0% WVS Financial Corp. 2,157 23,565 0.0% XL Group P.L.C. 280,092 9,489,517 0.1% * Yadkin Financial Corp. 7,065 137,132 0.0% Zions Bancorporation 321,339 9,309,191 0.1% -------------------- ------------------ Total Financials 2,186,790,687 16.9% -------------------- ------------------ Health Care -- (9.7%) # Abaxis, Inc. 12,970 683,000 0.0% Abbott Laboratories 348,984 15,212,213 0.1% # AbbVie, Inc. 305,517 19,388,109 0.2% #* Acadia Healthcare Co., Inc. 62,431 3,873,844 0.0% #* Accelerate Diagnostics, Inc. 2,471 53,670 0.0% #* Accretive Health, Inc. 10,626 76,507 0.0% #* Accuray, Inc. 92,130 583,183 0.0% #* Acorda Therapeutics, Inc. 55,709 1,939,787 0.0% * Actavis P.L.C. 166,039 40,304,307 0.3% #* Adcare Health Systems, Inc. 4,107 17,742 0.0% * Addus HomeCare Corp. 18,395 365,509 0.0% Aetna, Inc. 245,037 20,218,003 0.2% #* Affymetrix, Inc. 129,136 1,163,515 0.0% Agilent Technologies, Inc. 111,495 6,163,444 0.1% #* Air Methods Corp. 116,928 5,522,509 0.1% #* Akorn, Inc. 123,366 5,495,955 0.1% #* Albany Molecular Research, Inc. 46,348 1,078,054 0.0% * Alere, Inc. 142,568 5,698,443 0.1% * Alexion Pharmaceuticals, Inc. 36,176 6,922,639 0.1% #* Align Technology, Inc. 80,275 4,224,070 0.0% * Alkermes P.L.C. 49,654 2,510,010 0.0% Allergan, Inc. 33,891 6,441,323 0.1% #* Alliance HealthCare Services, Inc. 12,755 307,778 0.0% * Allied Healthcare Products, Inc. 6,964 13,092 0.0% * Allscripts Healthcare Solutions, Inc. 313,825 4,305,679 0.0% * Almost Family, Inc. 14,377 423,259 0.0% #* Alnylam Pharmaceuticals, Inc. 41,355 3,835,263 0.0% #* Alphatec Holdings, Inc. 95,998 145,917 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Health Care -- (Continued) #* AMAG Pharmaceuticals, Inc. 27,690 $ 914,047 0.0% #* Amedisys, Inc. 56,578 1,476,686 0.0% * American Shared Hospital Services 4,179 9,068 0.0% AmerisourceBergen Corp. 109,181 9,325,149 0.1% Amgen, Inc. 233,507 37,870,165 0.3% * AMN Healthcare Services, Inc. 86,449 1,482,600 0.0% #* Amsurg Corp. 75,887 4,098,657 0.0% Analogic Corp. 19,808 1,444,796 0.0% #* AngioDynamics, Inc. 50,081 851,377 0.0% #* ANI Pharmaceuticals, Inc. 1,410 47,884 0.0% #* Anika Therapeutics, Inc. 42,747 1,715,865 0.0% * Arqule, Inc. 26,787 30,805 0.0% * Arrhythmia Research Technology, Inc. 1,790 11,546 0.0% #* athenahealth, Inc. 10,282 1,259,545 0.0% #* AtriCure, Inc. 7,590 132,370 0.0% # Atrion Corp. 3,127 1,031,941 0.0% #* Auxilium Pharmaceuticals, Inc. 85,664 2,755,811 0.0% * AVEO Pharmaceuticals, Inc. 13,498 13,093 0.0% Baxter International, Inc. 121,749 8,539,475 0.1% Becton Dickinson and Co. 33,405 4,299,223 0.0% * Bio-Rad Laboratories, Inc. Class A 35,403 3,994,166 0.0% * Bio-Rad Laboratories, Inc. Class B 2,960 319,576 0.0% #* Bio-Reference Laboratories, Inc. 36,510 1,096,760 0.0% Bio-Techne Corp. 17,238 1,569,520 0.0% #* Bioanalytical Systems, Inc. 2,068 4,756 0.0% * Biogen Idec, Inc. 37,807 12,139,072 0.1% * BioMarin Pharmaceutical, Inc. 35,450 2,924,625 0.0% #* BioScrip, Inc. 183,767 1,187,135 0.0% * Biospecifics Technologies Corp. 2,470 99,096 0.0% * Biota Pharmaceuticals, Inc. 5,213 12,772 0.0% #* BioTelemetry, Inc. 40,437 339,266 0.0% * Boston Scientific Corp. 946,021 12,563,159 0.1% #* Bovie Medical Corp. 16,167 63,698 0.0% Bristol-Myers Squibb Co. 238,259 13,864,291 0.1% * Brookdale Senior Living, Inc. 188,575 6,356,863 0.1% * Bruker Corp. 71,441 1,480,972 0.0% * Cambrex Corp. 71,752 1,512,532 0.0% Cantel Medical Corp. 67,806 2,874,974 0.0% #* Capital Senior Living Corp. 55,234 1,242,765 0.0% Cardinal Health, Inc. 103,083 8,089,954 0.1% * CareFusion Corp. 203,373 11,667,509 0.1% * Catalyst Pharmaceutical Partners, Inc. 890 2,643 0.0% * Celgene Corp. 144,936 15,521,196 0.1% #* Celsion Corp. 1,650 4,521 0.0% * Centene Corp. 71,323 6,609,502 0.1% * Cepheid 1,437 76,175 0.0% * Cerner Corp. 52,076 3,298,494 0.0% * Charles River Laboratories International, Inc. 114,374 7,223,862 0.1% # Chemed Corp. 31,925 3,299,768 0.0% Cigna Corp. 203,814 20,293,760 0.2% #* Columbia Laboratories, Inc. 811 5,012 0.0% * Community Health Systems, Inc. 237,270 13,042,732 0.1% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Health Care -- (Continued) # Computer Programs & Systems, Inc. 17,153 $ 1,080,296 0.0% CONMED Corp. 43,673 1,833,829 0.0% (Degree) Contra Furiex Pharmaceuticals 14,153 138,275 0.0% Cooper Cos., Inc. (The) 74,291 12,176,295 0.1% * Corvel Corp. 31,890 1,097,654 0.0% * Covance, Inc. 73,012 5,833,659 0.1% Covidien P.L.C. 90,669 8,381,442 0.1% CR Bard, Inc. 27,566 4,519,997 0.0% #* Cross Country Healthcare, Inc. 49,969 483,200 0.0% CryoLife, Inc. 42,034 431,269 0.0% #* Cubist Pharmaceuticals, Inc. 92,878 6,714,151 0.1% #* Cumberland Pharmaceuticals, Inc. 29,618 145,128 0.0% * Cutera, Inc. 22,365 234,833 0.0% #* Cyberonics, Inc. 26,907 1,412,618 0.0% #* Cynosure, Inc. Class A 36,379 920,025 0.0% * DaVita HealthCare Partners, Inc. 313,677 24,488,763 0.2% Daxor Corp. 5,407 34,686 0.0% # DENTSPLY International, Inc. 96,933 4,921,288 0.0% #* Depomed, Inc. 86,208 1,327,603 0.0% #* DexCom, Inc. 6,394 287,410 0.0% Digirad Corp. 23,800 102,340 0.0% #* Durect Corp. 40,784 29,772 0.0% #* Dynavax Technologies Corp. 23,749 38,948 0.0% * Edwards Lifesciences Corp. 36,693 4,436,918 0.0% Eli Lilly & Co. 162,916 10,806,218 0.1% #* Emergent Biosolutions, Inc. 61,423 1,389,388 0.0% * Endo International P.L.C. 104,687 7,005,654 0.1% Ensign Group, Inc. (The) 47,412 1,835,793 0.0% #* EnteroMedics, Inc. 417 559 0.0% * Envision Healthcare Holdings, Inc. 13,884 485,246 0.0% #* Enzo Biochem, Inc. 53,941 281,572 0.0% #* EPIRUS Biopharmaceuticals, Inc. 890 4,406 0.0% #* Exact Sciences Corp. 15,692 377,706 0.0% * Exactech, Inc. 20,340 433,242 0.0% #* ExamWorks Group, Inc. 66,456 2,577,164 0.0% * Express Scripts Holding Co. 462,397 35,521,338 0.3% * Five Star Quality Care, Inc. 82,966 342,650 0.0% * Gentiva Health Services, Inc. 57,592 1,134,562 0.0% * Gilead Sciences, Inc. 289,862 32,464,544 0.3% #* Globus Medical, Inc. Class A 114,948 2,548,397 0.0% * Greatbatch, Inc. 39,027 1,958,765 0.0% * Haemonetics Corp. 90,565 3,416,112 0.0% #* Hanger, Inc. 54,530 1,304,903 0.0% * Harvard Apparatus Regenerative Technology, Inc. 10,276 64,533 0.0% * Harvard Bioscience, Inc. 41,105 197,304 0.0% * HCA Holdings, Inc. 46,506 3,257,745 0.0% * Health Net, Inc. 136,519 6,486,018 0.1% # HealthSouth Corp. 77,142 3,111,137 0.0% #* HealthStream, Inc. 26,746 828,056 0.0% * Healthways, Inc. 60,952 944,756 0.0% * Henry Schein, Inc. 63,424 7,612,783 0.1% Hill-Rom Holdings, Inc. 153,872 6,844,227 0.1% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Health Care -- (Continued) #* HMS Holdings Corp. 55,431 $ 1,287,662 0.0% * Hologic, Inc. 252,918 6,623,922 0.1% * Hospira, Inc. 117,874 6,329,834 0.1% Humana, Inc. 181,094 25,144,902 0.2% * Hyperion Therapeutics, Inc. 2,051 49,839 0.0% #* ICU Medical, Inc. 24,911 1,766,190 0.0% #* Idera Pharmaceuticals, Inc. 30,405 77,533 0.0% #* IDEXX Laboratories, Inc. 28,740 4,071,596 0.0% * Illumina, Inc. 19,907 3,833,690 0.0% * Impax Laboratories, Inc. 115,042 3,332,767 0.0% #* Incyte Corp. 86,152 5,777,353 0.1% #* Infinity Pharmaceuticals, Inc. 22,453 305,810 0.0% * Insys Therapeutics, Inc. 369 15,009 0.0% * Integra LifeSciences Holdings Corp. 44,625 2,280,784 0.0% * Intuitive Surgical, Inc. 5,321 2,638,152 0.0% # Invacare Corp. 53,931 847,256 0.0% #* IPC The Hospitalist Co., Inc. 28,824 1,200,808 0.0% * Iridex Corp. 6,507 50,885 0.0% #* Isis Pharmaceuticals, Inc. 22,929 1,056,110 0.0% #* Jazz Pharmaceuticals P.L.C. 24,763 4,180,985 0.0% Johnson & Johnson 765,223 82,475,735 0.6% #* Keryx Biopharmaceuticals, Inc. 5,600 94,360 0.0% Kewaunee Scientific Corp. 3,000 52,200 0.0% Kindred Healthcare, Inc. 125,320 2,725,710 0.0% * Laboratory Corp. of America Holdings 108,408 11,847,910 0.1% # Landauer, Inc. 5,650 202,214 0.0% #* Lannett Co., Inc. 58,106 3,295,772 0.0% LeMaitre Vascular, Inc. 22,583 165,308 0.0% #* LHC Group, Inc. 30,131 733,690 0.0% * LifePoint Hospitals, Inc. 79,199 5,543,930 0.1% #* Ligand Pharmaceuticals, Inc. Class B 21,542 1,190,626 0.0% #* Luminex Corp. 56,331 1,070,289 0.0% * Magellan Health Services, Inc. 54,594 3,304,029 0.0% #* Mallinckrodt P.L.C. 97,158 8,956,024 0.1% * Masimo Corp. 76,034 1,919,098 0.0% #* Mast Therapeutics, Inc. 25,886 13,173 0.0% McKesson Corp. 54,224 11,029,704 0.1% * MedAssets, Inc. 107,780 2,334,515 0.0% (Degree)#* MedCath Corp. 26,258 -- 0.0% #* Medicines Co. (The) 109,846 2,781,301 0.0% * MediciNova, Inc. 5,363 19,146 0.0% * Medivation, Inc. 21,340 2,255,638 0.0% #* MEDNAX, Inc. 167,446 10,453,654 0.1% # Medtronic, Inc. 259,909 17,715,397 0.1% Merck & Co., Inc. 1,331,605 77,153,194 0.6% * Merge Healthcare, Inc. 7,819 21,502 0.0% # Meridian Bioscience, Inc. 35,477 657,744 0.0% #* Merit Medical Systems, Inc. 75,202 1,139,310 0.0% * Mettler-Toledo International, Inc. 12,711 3,285,412 0.0% * Misonix, Inc. 8,260 110,354 0.0% #* Molina Healthcare, Inc. 76,298 3,711,135 0.0% * Momenta Pharmaceuticals, Inc. 88,278 963,113 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Health Care -- (Continued) #* MWI Veterinary Supply, Inc. 19,156 $ 3,249,911 0.0% #* Mylan, Inc. 115,253 6,171,798 0.1% #* Myriad Genetics, Inc. 134,178 5,298,689 0.0% National Healthcare Corp. 20,065 1,210,120 0.0% #* National Research Corp. Class A 29,412 467,357 0.0% #* National Research Corp. Class B 4,902 160,393 0.0% * Natus Medical, Inc. 58,055 1,973,870 0.0% #* Neogen Corp. 29,077 1,276,480 0.0% * NPS Pharmaceuticals, Inc. 2,500 68,500 0.0% * NuVasive, Inc. 75,518 3,088,686 0.0% Omnicare, Inc. 141,165 9,400,177 0.1% * Omnicell, Inc. 58,316 1,884,190 0.0% #* OncoGenex Pharmaceutical, Inc. 1,700 3,808 0.0% #* Opko Health, Inc. 388,769 3,246,221 0.0% #* OraSure Technologies, Inc. 60,788 544,053 0.0% * Orthofix International NV 32,028 940,022 0.0% # Owens & Minor, Inc. 113,036 3,766,360 0.0% #* Pacific Biosciences of California, Inc. 66,354 435,282 0.0% #* Pacira Pharmaceuticals, Inc. 4,933 457,881 0.0% * Pain Therapeutics, Inc. 50,349 87,607 0.0% Paratek Pharmaceuticals, Inc. 1,918 31,174 0.0% #* PAREXEL International Corp. 121,708 6,609,961 0.1% # Patterson Cos., Inc. 142,309 6,134,941 0.1% #* PDI, Inc. 21,336 38,832 0.0% # PDL BioPharma, Inc. 149,198 1,272,659 0.0% PerkinElmer, Inc. 195,649 8,495,080 0.1% #* Pernix Therapeutics Holdings, Inc. 7,120 69,420 0.0% Perrigo Co. P.L.C. 35,679 5,760,375 0.1% Pfizer, Inc. 3,831,803 114,762,500 0.9% #* Pharmacyclics, Inc. 11,655 1,522,959 0.0% * PharMerica Corp. 72,424 2,077,845 0.0% #* PhotoMedex, Inc. 7,613 29,234 0.0% # Pozen, Inc. 43,128 391,171 0.0% * Prestige Brands Holdings, Inc. 90,105 3,191,519 0.0% #* Progenics Pharmaceuticals, Inc. 99,984 482,923 0.0% * ProPhase Labs, Inc. 19,981 27,774 0.0% * Providence Service Corp. (The) 40,863 1,805,327 0.0% #* pSivida Corp. 22,452 88,461 0.0% Psychemedics Corp. 1,810 26,136 0.0% #* Puma Biotechnology, Inc. 690 172,914 0.0% # Quality Systems, Inc. 84,006 1,269,331 0.0% # Quest Diagnostics, Inc. 126,605 8,034,353 0.1% #* Quidel Corp. 50,738 1,448,570 0.0% * Quintiles Transnational Holdings, Inc. 6,463 378,344 0.0% #* RadNet, Inc. 66,612 619,492 0.0% * Receptos, Inc. 10,193 1,056,504 0.0% * Regeneron Pharmaceuticals, Inc. 22,072 8,690,188 0.1% #* Repligen Corp. 54,646 1,378,172 0.0% # ResMed, Inc. 67,431 3,521,247 0.0% #* Retractable Technologies, Inc. 7,725 27,887 0.0% #* Rigel Pharmaceuticals, Inc. 102,876 203,694 0.0% #* RTI Surgical, Inc. 87,990 447,869 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Health Care -- (Continued) #* Sagent Pharmaceuticals, Inc. 33,515 $ 1,060,415 0.0% #* Salix Pharmaceuticals, Ltd. 24,827 3,571,364 0.0% #* Sciclone Pharmaceuticals, Inc. 88,042 672,641 0.0% #* Seattle Genetics, Inc. 38,000 1,393,460 0.0% # Select Medical Holdings Corp. 226,121 3,260,665 0.0% Simulations Plus, Inc. 4,400 27,896 0.0% #* Sirona Dental Systems, Inc. 69,168 5,433,146 0.1% #* Skilled Healthcare Group, Inc. Class A 34,371 238,191 0.0% Span-America Medical Systems, Inc. 3,812 71,856 0.0% * Special Diversified Opportunities, Inc. 14,178 16,872 0.0% #* Spectrum Pharmaceuticals, Inc. 95,574 724,451 0.0% St Jude Medical, Inc. 107,707 6,911,558 0.1% #* Staar Surgical Co. 26,138 250,141 0.0% #* StemCells, Inc. 545 649 0.0% #* Stereotaxis, Inc. 4,433 8,777 0.0% # STERIS Corp. 89,775 5,548,095 0.1% Stryker Corp. 51,444 4,502,893 0.0% #* Sucampo Pharmaceuticals, Inc. Class A 14,749 127,136 0.0% #* SunLink Health Systems, Inc. 3,122 5,464 0.0% #* SurModics, Inc. 27,984 605,854 0.0% * Symmetry Medical, Inc. 65,054 644,035 0.0% * Targacept, Inc. 9,807 22,948 0.0% * Taro Pharmaceutical Industries, Ltd. 1,519 245,987 0.0% * Team Health Holdings, Inc. 58,924 3,685,107 0.0% # Teleflex, Inc. 68,284 7,792,570 0.1% #* Tenet Healthcare Corp. 164,303 9,209,183 0.1% #* Theravance Biopharma, Inc. 3,588 65,660 0.0% Thermo Fisher Scientific, Inc. 169,955 19,981,609 0.2% #* Thoratec Corp. 97,164 2,640,918 0.0% #* Tornier NV 25,474 711,998 0.0% #* Triple-S Management Corp. Class B 40,623 899,393 0.0% #* United Therapeutics Corp. 60,724 7,953,022 0.1% UnitedHealth Group, Inc. 576,403 54,764,049 0.4% #* Universal American Corp. 144,411 1,345,911 0.0% Universal Health Services, Inc. Class B 110,174 11,426,146 0.1% * Uroplasty, Inc. 2,767 6,918 0.0% # US Physical Therapy, Inc. 21,342 920,907 0.0% # Utah Medical Products, Inc. 6,006 341,141 0.0% #* Varian Medical Systems, Inc. 33,025 2,778,063 0.0% #* Vascular Solutions, Inc. 27,906 820,715 0.0% * VCA, Inc. 174,938 7,971,925 0.1% * Vertex Pharmaceuticals, Inc. 30,622 3,449,262 0.0% * Vical, Inc. 19,691 24,614 0.0% #* Volcano Corp. 31,538 319,165 0.0% * Waters Corp. 16,195 1,794,406 0.0% * WellCare Health Plans, Inc. 79,733 5,411,479 0.1% WellPoint, Inc. 203,028 25,721,617 0.2% # West Pharmaceutical Services, Inc. 107,900 5,529,875 0.1% #* Wright Medical Group, Inc. 77,860 2,461,933 0.0% #* XenoPort, Inc. 1,326 8,990 0.0% Zimmer Holdings, Inc. 130,497 14,516,486 0.1% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Health Care -- (Continued) Zoetis, Inc. 592,493 $ 22,017,040 0.2% -------------------- ------------------ Total Health Care 1,403,168,361 10.9% -------------------- ------------------ Industrials -- (12.7%) 3M Co. 139,848 21,504,427 0.2% # AAON, Inc. 89,218 1,753,134 0.0% # AAR Corp. 64,754 1,715,981 0.0% ABM Industries, Inc. 100,212 2,769,860 0.0% # Acacia Research Corp. 71,606 1,288,908 0.0% * ACCO Brands Corp. 197,605 1,626,289 0.0% * Accuride Corp. 34,436 165,982 0.0% # Aceto Corp. 52,192 1,186,846 0.0% Acme United Corp. 2,302 39,710 0.0% * Active Power, Inc. 920 1,693 0.0% # Actuant Corp. Class A 121,522 3,851,032 0.0% Acuity Brands, Inc. 40,035 5,582,080 0.1% #* Adept Technology, Inc. 14,123 99,991 0.0% # ADT Corp. (The) 204,867 7,342,433 0.1% #* Advisory Board Co. (The) 27,568 1,479,575 0.0% * AECOM Technology Corp. 223,959 7,289,865 0.1% #* Aegion Corp. 85,406 1,564,638 0.0% #* AeroCentury Corp. 1,459 16,224 0.0% * Aerovironment, Inc. 45,391 1,391,234 0.0% # AGCO Corp. 164,243 7,277,607 0.1% Air Lease Corp. 100,259 3,668,477 0.0% * Air Transport Services Group, Inc. 113,524 928,626 0.0% Aircastle, Ltd. 51,314 979,071 0.0% Alamo Group, Inc. 20,867 893,942 0.0% Alaska Air Group, Inc. 263,148 14,007,368 0.1% Albany International Corp. Class A 47,742 1,803,693 0.0% # Allegiant Travel Co. 34,192 4,563,606 0.0% Allegion P.L.C. 52,413 2,782,606 0.0% Alliant Techsystems, Inc. 57,754 6,754,908 0.1% (Degree) Allied Defense Group, Inc. 8,042 643 0.0% Allied Motion Technologies, Inc. 6,678 98,033 0.0% Allison Transmission Holdings, Inc. 317,716 10,319,416 0.1% # Altra Industrial Motion Corp. 53,496 1,686,194 0.0% AMERCO 34,472 9,346,049 0.1% #* Ameresco, Inc. Class A 37,184 306,396 0.0% American Airlines Group, Inc. 199,017 8,229,353 0.1% # American Railcar Industries, Inc. 39,572 2,604,233 0.0% # American Science & Engineering, Inc. 13,412 741,684 0.0% #* American Superconductor Corp. 9,532 12,487 0.0% * American Woodmark Corp. 30,083 1,230,696 0.0% AMETEK, Inc. 237,482 12,384,686 0.1% * AMREP Corp. 9,572 37,235 0.0% AO Smith Corp. 116,746 6,228,399 0.1% Apogee Enterprises, Inc. 54,377 2,387,150 0.0% # Applied Industrial Technologies, Inc. 75,080 3,664,655 0.0% * ARC Document Solutions, Inc. 94,386 958,018 0.0% ArcBest Corp. 42,847 1,658,179 0.0% Argan, Inc. 42,440 1,477,336 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) #* Armstrong World Industries, Inc. 104,022 $ 5,036,745 0.1% #* Arotech Corp. 5,156 15,210 0.0% Astec Industries, Inc. 41,398 1,569,398 0.0% #* Astronics Corp. 19,607 1,015,839 0.0% #* Astronics Corp. Class B 8,343 431,333 0.0% #* Atlas Air Worldwide Holdings, Inc. 65,782 2,428,671 0.0% #* Avalon Holdings Corp. Class A 1,202 4,207 0.0% * Avis Budget Group, Inc. 256,531 14,301,603 0.1% AZZ, Inc. 50,839 2,377,232 0.0% * B/E Aerospace, Inc. 114,075 8,492,884 0.1% Babcock & Wilcox Co. (The) 129,356 3,699,582 0.0% # Baltic Trading, Ltd. 21,705 81,394 0.0% Barnes Group, Inc. 98,142 3,588,072 0.0% # Barrett Business Services, Inc. 13,746 323,168 0.0% #* Beacon Roofing Supply, Inc. 96,324 2,665,285 0.0% * Blount International, Inc. 171,527 2,626,078 0.0% #* BlueLinx Holdings, Inc. 86,144 103,373 0.0% Boeing Co. (The) 124,433 15,542,926 0.1% Brady Corp. Class A 86,301 2,057,416 0.0% * Breeze-Eastern Corp. 12,352 128,584 0.0% # Briggs & Stratton Corp. 91,256 1,844,284 0.0% Brink's Co. (The) 97,110 2,039,310 0.0% * Broadwind Energy, Inc. 2,072 13,219 0.0% #* Builders FirstSource, Inc. 83,255 493,702 0.0% #* CAI International, Inc. 36,219 762,410 0.0% Carlisle Cos., Inc. 93,716 8,329,478 0.1% #* Casella Waste Systems, Inc. Class A 38,456 173,052 0.0% Caterpillar, Inc. 256,407 26,002,234 0.2% #* CBIZ, Inc. 110,621 1,021,032 0.0% CDI Corp. 29,428 505,867 0.0% # Ceco Environmental Corp. 31,518 451,338 0.0% Celadon Group, Inc. 53,887 1,048,641 0.0% # CH Robinson Worldwide, Inc. 64,641 4,473,804 0.0% #* Chart Industries, Inc. 42,909 1,997,414 0.0% # Chicago Bridge & Iron Co. NV 46,220 2,525,461 0.0% Chicago Rivet & Machine Co. 653 20,263 0.0% Cintas Corp. 116,576 8,538,026 0.1% CIRCOR International, Inc. 30,383 2,283,282 0.0% Civeo Corp. 196,714 2,397,944 0.0% CLARCOR, Inc. 67,886 4,545,647 0.0% #* Clean Harbors, Inc. 101,624 5,043,599 0.1% #* Colfax Corp. 89,372 4,860,049 0.0% Columbus McKinnon Corp. 35,621 1,013,417 0.0% Comfort Systems USA, Inc. 69,011 1,060,009 0.0% #* Command Security Corp. 10,654 23,972 0.0% #* Commercial Vehicle Group, Inc. 30,504 199,801 0.0% Compx International, Inc. 3,471 38,632 0.0% Con-way, Inc. 160,978 6,981,616 0.1% # Copa Holdings SA Class A 43,252 5,057,024 0.1% * Copart, Inc. 117,312 3,922,913 0.0% Corporate Executive Board Co. (The) 57,180 4,214,166 0.0% Courier Corp. 21,176 287,358 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) # Covanta Holding Corp. 267,782 $ 5,909,949 0.1% * Covenant Transportation Group, Inc. Class A 12,060 250,124 0.0% #* CPI Aerostructures, Inc. 8,781 83,859 0.0% * CRA International, Inc. 14,257 427,710 0.0% Crane Co. 81,395 5,074,978 0.1% CSX Corp. 795,533 28,344,841 0.2% Cubic Corp. 42,291 2,040,118 0.0% Cummins, Inc. 33,362 4,876,857 0.1% Curtiss-Wright Corp. 78,292 5,418,589 0.1% Danaher Corp. 298,700 24,015,480 0.2% # Deere & Co. 164,066 14,034,206 0.1% Delta Air Lines, Inc. 624,896 25,139,566 0.2% # Deluxe Corp. 124,496 7,569,357 0.1% #* DigitalGlobe, Inc. 125,841 3,597,794 0.0% # Donaldson Co., Inc. 75,034 3,119,914 0.0% # Douglas Dynamics, Inc. 46,691 967,904 0.0% Dover Corp. 201,847 16,034,726 0.1% * Ducommun, Inc. 17,367 458,662 0.0% # Dun & Bradstreet Corp. (The) 30,081 3,694,248 0.0% * DXP Enterprises, Inc. 25,098 1,663,746 0.0% * Dycom Industries, Inc. 64,678 2,030,242 0.0% # Dynamic Materials Corp. 20,382 371,156 0.0% * Eagle Bulk Shipping, Inc. 1 17 0.0% Eastern Co. (The) 6,782 110,682 0.0% Eaton Corp. P.L.C. 195,944 13,400,610 0.1% #* Echo Global Logistics, Inc. 48,955 1,279,194 0.0% Ecology and Environment, Inc. Class A 3,767 37,256 0.0% EMCOR Group, Inc. 126,090 5,564,352 0.1% Emerson Electric Co. 264,039 16,914,338 0.1% Encore Wire Corp. 37,694 1,430,110 0.0% #* Energy Recovery, Inc. 58,749 269,070 0.0% EnerSys 96,713 6,073,576 0.1% * Engility Holdings, Inc. 25,441 1,099,051 0.0% Ennis, Inc. 39,200 581,336 0.0% #* EnPro Industries, Inc. 35,768 2,308,109 0.0% EnviroStar, Inc. 100 260 0.0% Equifax, Inc. 118,070 8,942,622 0.1% # ESCO Technologies, Inc. 50,320 1,913,166 0.0% Espey Manufacturing & Electronics Corp. 4,614 87,666 0.0% * Esterline Technologies Corp. 54,096 6,335,183 0.1% Exelis, Inc. 332,406 5,933,447 0.1% Expeditors International of Washington, Inc. 50,522 2,155,269 0.0% # Exponent, Inc. 20,843 1,663,688 0.0% # Fastenal Co. 121,376 5,345,399 0.1% Federal Signal Corp. 113,443 1,610,891 0.0% FedEx Corp. 214,708 35,942,119 0.3% Flowserve Corp. 87,256 5,932,535 0.1% Fluor Corp. 172,487 11,442,788 0.1% Fortune Brands Home & Security, Inc. 124,103 5,367,455 0.1% # Forward Air Corp. 59,785 2,861,908 0.0% #* Franklin Covey Co. 28,154 552,100 0.0% # Franklin Electric Co., Inc. 90,037 3,361,982 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) FreightCar America, Inc. 23,016 $ 758,838 0.0% * FTI Consulting, Inc. 86,830 3,506,195 0.0% #* Fuel Tech, Inc. 30,552 123,736 0.0% * Furmanite Corp. 64,389 481,630 0.0% G&K Services, Inc. Class A 38,455 2,425,357 0.0% # GATX Corp. 77,786 4,931,632 0.1% #* Gencor Industries, Inc. 5,578 54,051 0.0% #* GenCorp, Inc. 63,086 1,069,939 0.0% #* Generac Holdings, Inc. 72,815 3,301,432 0.0% General Cable Corp. 82,789 1,173,120 0.0% General Dynamics Corp. 162,242 22,674,942 0.2% General Electric Co. 4,061,967 104,839,368 0.8% * Genesee & Wyoming, Inc. Class A 90,520 8,708,024 0.1% * Gibraltar Industries, Inc. 49,354 752,649 0.0% # Global Power Equipment Group, Inc. 22,239 303,118 0.0% #* Goldfield Corp. (The) 18,424 35,374 0.0% # Gorman-Rupp Co. (The) 38,613 1,225,577 0.0% * GP Strategies Corp. 32,659 1,082,972 0.0% Graco, Inc. 51,100 4,011,350 0.0% #* GrafTech International, Ltd. 231,830 994,551 0.0% # Graham Corp. 17,619 590,237 0.0% # Granite Construction, Inc. 68,835 2,540,700 0.0% * Great Lakes Dredge & Dock Corp. 103,199 721,361 0.0% # Greenbrier Cos., Inc. (The) 47,338 2,960,519 0.0% # Griffon Corp. 98,568 1,211,401 0.0% H&E Equipment Services, Inc. 68,425 2,558,411 0.0% Hardinge, Inc. 16,040 179,969 0.0% # Harsco Corp. 195,535 4,239,199 0.0% #* Hawaiian Holdings, Inc. 88,476 1,534,174 0.0% * HD Supply Holdings, Inc. 95,083 2,742,194 0.0% # Healthcare Services Group, Inc. 60,089 1,789,450 0.0% # Heartland Express, Inc. 184,917 4,648,813 0.0% # HEICO Corp. 37,893 2,055,316 0.0% HEICO Corp. Class A 69,069 3,159,907 0.0% Heidrick & Struggles International, Inc. 28,367 590,601 0.0% #* Heritage-Crystal Clean, Inc. 7,298 132,386 0.0% Herman Miller, Inc. 81,438 2,606,016 0.0% * Hertz Global Holdings, Inc. 607,737 13,321,595 0.1% * Hexcel Corp. 150,307 6,296,360 0.1% #* Hill International, Inc. 51,954 201,582 0.0% Hillenbrand, Inc. 149,846 4,988,373 0.1% # HNI Corp. 91,216 4,255,226 0.0% Honeywell International, Inc. 187,586 18,030,766 0.2% # Houston Wire & Cable Co. 30,850 418,326 0.0% * Hub Group, Inc. Class A 95,997 3,483,731 0.0% Hubbell, Inc. Class A 7,919 953,764 0.0% Hubbell, Inc. Class B 61,174 6,937,743 0.1% * Hudson Global, Inc. 43,679 148,945 0.0% Huntington Ingalls Industries, Inc. 101,001 10,687,926 0.1% # Hurco Cos., Inc. 9,993 385,030 0.0% * Huron Consulting Group, Inc. 40,294 2,804,865 0.0% Hyster-Yale Materials Handling, Inc. 25,081 1,968,608 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) * ICF International, Inc. 34,561 $ 1,255,947 0.0% IDEX Corp. 123,842 9,277,004 0.1% * IHS, Inc. Class A 23,280 3,050,378 0.0% Illinois Tool Works, Inc. 102,413 9,324,704 0.1% Ingersoll-Rand P.L.C. 194,504 12,179,841 0.1% #* InnerWorkings, Inc. 66,030 599,552 0.0% #* Innovative Solutions & Support, Inc. 19,910 55,549 0.0% # Insperity, Inc. 48,598 1,533,753 0.0% Insteel Industries, Inc. 28,079 669,403 0.0% * Integrated Electrical Services, Inc. 17,939 142,256 0.0% * Intelligent Systems Corp. 629 764 0.0% # Interface, Inc. 85,639 1,372,793 0.0% # International Shipholding Corp. 8,363 167,595 0.0% # Intersections, Inc. 30,961 123,844 0.0% ITT Corp. 114,983 5,181,134 0.1% * Jacobs Engineering Group, Inc. 84,730 4,020,439 0.0% # JB Hunt Transport Services, Inc. 50,437 4,023,360 0.0% #* JetBlue Airways Corp. 513,933 5,930,787 0.1% # John Bean Technologies Corp. 43,589 1,306,362 0.0% # Joy Global, Inc. 161,256 8,486,903 0.1% Kadant, Inc. 17,092 706,583 0.0% # Kaman Corp. 84,492 3,638,226 0.0% # Kansas City Southern 107,009 13,139,635 0.1% KAR Auction Services, Inc. 237,894 7,222,462 0.1% KBR, Inc. 255,616 4,877,153 0.1% # Kelly Services, Inc. Class A 60,884 1,073,385 0.0% Kelly Services, Inc. Class B 1,275 19,284 0.0% # Kennametal, Inc. 133,816 5,166,636 0.1% * Key Technology, Inc. 7,462 98,797 0.0% # Kforce, Inc. 73,773 1,707,845 0.0% Kimball International, Inc. Class B 51,792 931,220 0.0% * Kirby Corp. 99,803 11,036,216 0.1% # Knight Transportation, Inc. 251,716 7,365,210 0.1% # Knightsbridge Shipping, Ltd. 101,299 889,405 0.0% Knoll, Inc. 91,432 1,818,583 0.0% * Korn/Ferry International 81,882 2,286,964 0.0% #* Kratos Defense & Security Solutions, Inc. 143,728 1,001,784 0.0% L-3 Communications Holdings, Inc. 100,263 12,177,944 0.1% # Landstar System, Inc. 59,507 4,404,113 0.0% * Lawson Products, Inc. 12,431 299,339 0.0% #* Layne Christensen Co. 34,483 248,278 0.0% # LB Foster Co. Class A 17,193 929,969 0.0% Lennox International, Inc. 44,910 3,993,397 0.0% Lincoln Electric Holdings, Inc. 120,085 8,703,761 0.1% # Lindsay Corp. 20,998 1,841,525 0.0% #* LMI Aerospace, Inc. 17,391 229,213 0.0% Lockheed Martin Corp. 58,142 11,080,121 0.1% LS Starrett Co. (The) Class A 9,260 136,863 0.0% LSI Industries, Inc. 42,695 305,696 0.0% #* Luna Innovations, Inc. 4,551 6,189 0.0% * Lydall, Inc. 24,164 747,393 0.0% * Magnetek, Inc. 1,525 47,382 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) #* Manitex International, Inc. 2,123 $ 24,266 0.0% # Manitowoc Co., Inc. (The) 202,460 4,219,266 0.0% Manpowergroup, Inc. 111,195 7,422,266 0.1% # Marten Transport, Ltd. 58,210 1,142,080 0.0% Masco Corp. 153,929 3,397,213 0.0% #* MasTec, Inc. 125,372 3,590,654 0.0% Mastech Holdings, Inc. 3,567 41,912 0.0% Matson, Inc. 77,109 2,196,835 0.0% Matthews International Corp. Class A 54,585 2,515,277 0.0% # McGrath RentCorp 41,580 1,518,917 0.0% * Meritor, Inc. 165,900 1,906,191 0.0% * Mfri, Inc. 6,501 59,289 0.0% * Middleby Corp. (The) 68,007 6,018,620 0.1% # Miller Industries, Inc. 16,917 334,449 0.0% * Mistras Group, Inc. 41,992 692,448 0.0% # Mobile Mini, Inc. 85,171 3,733,045 0.0% * Moog, Inc. Class A 70,114 5,366,526 0.1% #* Moog, Inc. Class B 6,265 478,082 0.0% * MRC Global, Inc. 169,765 3,570,158 0.0% MSA Safety, Inc. 73,117 4,202,034 0.0% # MSC Industrial Direct Co., Inc. Class A 39,415 3,191,433 0.0% Mueller Industries, Inc. 118,168 3,835,733 0.0% Mueller Water Products, Inc. Class A 328,849 3,245,740 0.0% # Multi-Color Corp. 23,830 1,174,819 0.0% #* MYR Group, Inc. 46,840 1,215,030 0.0% # National Presto Industries, Inc. 10,320 650,779 0.0% #* Navigant Consulting, Inc. 100,966 1,553,867 0.0% #* Navistar International Corp. 28,585 1,011,051 0.0% * NCI Building Systems, Inc. 929 18,459 0.0% Nielsen NV 242,857 10,318,994 0.1% # NL Industries, Inc. 66,217 482,722 0.0% NN, Inc. 30,911 772,775 0.0% Nordson Corp. 58,194 4,454,751 0.0% Norfolk Southern Corp. 195,194 21,596,264 0.2% #* Nortek, Inc. 1,057 88,027 0.0% Northrop Grumman Corp. 96,151 13,264,992 0.1% #* Northwest Pipe Co. 15,204 543,999 0.0% #* NOW, Inc. 73,203 2,200,482 0.0% #* Ocean Power Technologies, Inc. 8,423 8,423 0.0% * Old Dominion Freight Line, Inc. 112,841 8,222,724 0.1% # Omega Flex, Inc. 8,600 228,932 0.0% * On Assignment, Inc. 91,840 2,672,544 0.0% * Orbital Sciences Corp. 99,159 2,607,882 0.0% * Orion Energy Systems, Inc. 30,093 173,035 0.0% #* Orion Marine Group, Inc. 30,944 339,146 0.0% Oshkosh Corp. 152,082 6,807,190 0.1% Owens Corning 197,978 6,347,175 0.1% PACCAR, Inc. 189,796 12,397,475 0.1% Pall Corp. 29,386 2,686,468 0.0% #* PAM Transportation Services, Inc. 9,059 389,356 0.0% Park-Ohio Holdings Corp. 25,820 1,371,300 0.0% Parker Hannifin Corp. 116,271 14,769,905 0.1% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) #* Patrick Industries, Inc. 28,575 $ 1,220,724 0.0% #* Patriot Transportation Holding, Inc. 10,465 443,297 0.0% * Pendrell Corp. 67,532 112,778 0.0% Pentair P.L.C. 192,918 12,935,152 0.1% #* Performant Financial Corp. 119,747 1,033,417 0.0% * PGT, Inc. 53,997 507,842 0.0% * Pike Corp. 57,952 691,947 0.0% Pitney Bowes, Inc. 187,481 4,638,280 0.0% #* Plug Power, Inc. 2,629 12,383 0.0% #* PMFG, Inc. 16,342 85,959 0.0% #* Polypore International, Inc. 76,811 3,373,539 0.0% # Powell Industries, Inc. 19,910 906,502 0.0% #* PowerSecure International, Inc. 39,354 439,584 0.0% Precision Castparts Corp. 31,975 7,056,883 0.1% # Preformed Line Products Co. 8,209 467,831 0.0% Primoris Services Corp. 127,771 3,669,583 0.0% #* Proto Labs, Inc. 8,121 530,870 0.0% Providence and Worcester Railroad Co. 3,494 62,158 0.0% Quad/Graphics, Inc. 4,133 91,133 0.0% * Quality Distribution, Inc. 43,375 562,140 0.0% Quanex Building Products Corp. 74,751 1,496,515 0.0% * Quanta Services, Inc. 212,665 7,247,623 0.1% # Raven Industries, Inc. 71,765 1,819,243 0.0% Raytheon Co. 159,417 16,560,238 0.1% # RBC Bearings, Inc. 39,711 2,412,443 0.0% * RCM Technologies, Inc. 13,580 102,393 0.0% #* Real Goods Solar, Inc. Class A 512 412 0.0% Regal-Beloit Corp. 78,674 5,583,494 0.1% #* Republic Airways Holdings, Inc. 78,614 984,247 0.0% Republic Services, Inc. 270,826 10,399,718 0.1% # Resources Connection, Inc. 84,694 1,310,216 0.0% #* Rexnord Corp. 104,569 3,090,014 0.0% #* Roadrunner Transportation Systems, Inc. 67,077 1,382,457 0.0% Robert Half International, Inc. 69,588 3,812,031 0.0% Rockwell Automation, Inc. 64,578 7,255,338 0.1% Rockwell Collins, Inc. 60,785 5,115,058 0.1% Rollins, Inc. 54,481 1,736,310 0.0% Roper Industries, Inc. 72,803 11,524,715 0.1% * RPX Corp. 114,330 1,606,337 0.0% # RR Donnelley & Sons Co. 370,052 6,457,407 0.1% #* Rush Enterprises, Inc. Class A 51,050 1,945,005 0.0% * Rush Enterprises, Inc. Class B 8,637 279,234 0.0% Ryder System, Inc. 133,569 11,816,849 0.1% * Saia, Inc. 76,369 3,743,608 0.0% #* Sensata Technologies Holding NV 58,198 2,840,644 0.0% * Servotronics, Inc. 1,473 9,442 0.0% # SIFCO Industries, Inc. 7,118 242,154 0.0% Simpson Manufacturing Co., Inc. 81,637 2,700,552 0.0% SkyWest, Inc. 91,028 1,048,643 0.0% * SL Industries, Inc. 11,694 526,230 0.0% SmartPros, Ltd. 1,344 2,258 0.0% Snap-on, Inc. 79,949 10,564,461 0.1% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) #* SolarCity Corp. 11,720 $ 693,590 0.0% Southwest Airlines Co. 773,474 26,669,384 0.2% #* SP Plus Corp. 21,221 463,042 0.0% * Sparton Corp. 11,200 303,520 0.0% * Spirit Aerosystems Holdings, Inc. Class A 193,226 7,601,511 0.1% * Spirit Airlines, Inc. 86,403 6,316,923 0.1% SPX Corp. 80,563 7,636,567 0.1% #* Standard Register Co. (The) 6,813 34,883 0.0% Standex International Corp. 23,096 1,992,030 0.0% Stanley Black & Decker, Inc. 153,667 14,389,378 0.1% Steelcase, Inc. Class A 194,538 3,447,213 0.0% * Stericycle, Inc. 25,062 3,157,812 0.0% #* Sterling Construction Co., Inc. 23,323 205,709 0.0% # Sun Hydraulics Corp. 35,204 1,401,471 0.0% Supreme Industries, Inc. Class A 14,584 96,984 0.0% #* Swift Transportation Co. 198,984 4,914,905 0.1% # TAL International Group, Inc. 72,140 3,111,398 0.0% #* Taser International, Inc. 82,399 1,552,397 0.0% #* Team, Inc. 36,456 1,536,256 0.0% * Tecumseh Products Co. 20,303 74,918 0.0% * Teledyne Technologies, Inc. 48,937 5,071,341 0.1% Tennant Co. 29,658 2,186,684 0.0% # Terex Corp. 193,513 5,567,369 0.1% Tetra Tech, Inc. 115,521 3,097,118 0.0% # Textainer Group Holdings, Ltd. 82,635 2,845,949 0.0% Textron, Inc. 186,989 7,765,653 0.1% * Thermon Group Holdings, Inc. 27,479 669,663 0.0% Timken Co. (The) 128,029 5,503,967 0.1% # Titan International, Inc. 85,461 902,468 0.0% #* Titan Machinery, Inc. 34,120 469,491 0.0% Toro Co. (The) 43,236 2,668,958 0.0% Towers Watson & Co. Class A 44,857 4,947,279 0.1% TransDigm Group, Inc. 18,993 3,552,261 0.0% #* TRC Cos., Inc. 29,408 214,090 0.0% #* Trex Co., Inc. 46,370 1,993,910 0.0% * Trimas Corp. 63,511 2,010,758 0.0% # Trinity Industries, Inc. 324,811 11,599,001 0.1% Triumph Group, Inc. 87,175 6,069,995 0.1% * TrueBlue, Inc. 80,868 1,999,057 0.0% * Tutor Perini Corp. 97,866 2,741,227 0.0% # Twin Disc, Inc. 22,040 573,481 0.0% Tyco International, Ltd. 136,871 5,875,872 0.1% * Ultralife Corp. 19,679 62,382 0.0% UniFirst Corp. 24,143 2,693,393 0.0% Union Pacific Corp. 582,662 67,850,990 0.5% * United Continental Holdings, Inc. 527,210 27,841,960 0.2% United Parcel Service, Inc. Class B 120,524 12,644,173 0.1% * United Rentals, Inc. 142,790 15,715,467 0.1% # United Stationers, Inc. 65,169 2,722,109 0.0% United Technologies Corp. 254,548 27,236,636 0.2% # Universal Forest Products, Inc. 29,064 1,452,328 0.0% # Universal Truckload Services, Inc. 25,605 673,924 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) # US Ecology, Inc. 48,676 $ 2,447,429 0.0% #* USA Truck, Inc. 14,166 239,405 0.0% #* USG Corp. 115,330 3,097,764 0.0% #* UTi Worldwide, Inc. 185,968 2,032,630 0.0% # Valmont Industries, Inc. 37,276 5,075,873 0.1% * Vectrus, Inc. 17,994 439,773 0.0% * Verisk Analytics, Inc. Class A 68,195 4,251,958 0.0% * Veritiv Corp. 6,354 286,629 0.0% * Versar, Inc. 15,761 51,223 0.0% Viad Corp. 37,472 955,911 0.0% #* Vicor Corp. 34,427 468,551 0.0% * Virco Manufacturing Corp. 11,119 30,133 0.0% #* Volt Information Sciences, Inc. 23,850 197,717 0.0% # VSE Corp. 7,290 439,441 0.0% #* Wabash National Corp. 189,241 1,949,182 0.0% * WABCO Holdings, Inc. 56,200 5,472,756 0.1% Wabtec Corp. 83,407 7,198,024 0.1% Waste Connections, Inc. 212,374 10,597,463 0.1% Waste Management, Inc. 233,210 11,401,637 0.1% # Watsco, Inc. 41,924 4,260,317 0.0% Watsco, Inc. Class B 5,058 518,521 0.0% # Watts Water Technologies, Inc. Class A 46,572 2,823,660 0.0% # Werner Enterprises, Inc. 138,571 3,816,245 0.0% #* Wesco Aircraft Holdings, Inc. 35,835 636,071 0.0% #* WESCO International, Inc. 75,503 6,222,202 0.1% # West Corp. 19,052 609,664 0.0% #* Willdan Group, Inc. 12,971 170,180 0.0% * Willis Lease Finance Corp. 8,926 203,602 0.0% # Woodward, Inc. 96,543 4,943,967 0.1% # WW Grainger, Inc. 26,133 6,449,624 0.1% #* XPO Logistics, Inc. 35,163 1,403,707 0.0% Xylem, Inc. 126,611 4,603,576 0.0% -------------------- ------------------ Total Industrials 1,850,071,076 14.3% -------------------- ------------------ Information Technology -- (14.2%) #* 3D Systems Corp. 49,622 1,875,712 0.0% Accenture P.L.C. Class A 131,378 10,657,383 0.1% #* ACI Worldwide, Inc. 239,243 4,603,035 0.0% #* Acorn Energy, Inc. 24,822 26,063 0.0% Activision Blizzard, Inc. 563,469 11,241,207 0.1% * Actua Corp. 64,820 1,218,616 0.0% #* Actuate Corp. 83,460 358,043 0.0% #* Acxiom Corp. 128,305 2,417,266 0.0% #* ADDvantage Technologies Group, Inc. 7,817 18,839 0.0% * Adobe Systems, Inc. 51,657 3,622,189 0.0% # ADTRAN, Inc. 96,668 2,050,328 0.0% * Advanced Energy Industries, Inc. 67,891 1,342,884 0.0% #* Advanced Micro Devices, Inc. 156,342 437,758 0.0% # Advent Software, Inc. 83,445 2,883,859 0.0% * Aehr Test Systems 4,618 11,961 0.0% * Aetrium, Inc. 646 2,274 0.0% #* Agilysys, Inc. 53,656 606,313 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) * Akamai Technologies, Inc. 118,808 $ 7,164,122 0.1% * Alliance Data Systems Corp. 26,215 7,428,020 0.1% #* Alpha & Omega Semiconductor, Ltd. 15,188 140,793 0.0% Altera Corp. 179,312 6,162,953 0.1% Amdocs, Ltd. 131,808 6,266,152 0.1% American Software, Inc. Class A 41,689 402,716 0.0% #* Amkor Technology, Inc. 302,736 2,052,550 0.0% Amphenol Corp. Class A 108,989 5,512,664 0.1% * Amtech Systems, Inc. 11,796 124,212 0.0% #* ANADIGICS, Inc. 100,745 71,529 0.0% Analog Devices, Inc. 202,089 10,027,656 0.1% Anixter International, Inc. 55,559 4,731,960 0.0% * ANSYS, Inc. 61,531 4,833,875 0.1% * AOL, Inc. 145,693 6,342,016 0.1% Apple, Inc. 2,232,888 241,151,904 1.9% Applied Materials, Inc. 434,626 9,600,888 0.1% * ARRIS Group, Inc. 297,201 8,921,974 0.1% * Arrow Electronics, Inc. 174,398 9,916,270 0.1% #* Ascent Solar Technologies, Inc. 3,147 5,539 0.0% * Aspen Technology, Inc. 68,481 2,529,003 0.0% Astro-Med, Inc. 9,339 125,236 0.0% #* Atmel Corp. 572,055 4,244,648 0.0% * Autobytel, Inc. 3,757 34,715 0.0% * Autodesk, Inc. 41,500 2,387,910 0.0% Automatic Data Processing, Inc. 85,937 7,027,928 0.1% Avago Technologies, Ltd. 27,213 2,347,121 0.0% * AVG Technologies NV 103,751 1,859,218 0.0% #* Aviat Networks, Inc. 88,527 155,808 0.0% * Avid Technology, Inc. 62,217 625,281 0.0% Avnet, Inc. 218,714 9,459,380 0.1% AVX Corp. 229,798 3,318,283 0.0% Aware, Inc. 27,858 120,347 0.0% * Axcelis Technologies, Inc. 109,032 237,690 0.0% * AXT, Inc. 45,551 107,500 0.0% # Badger Meter, Inc. 27,030 1,538,548 0.0% #* Bankrate, Inc. 138,608 1,505,283 0.0% Bel Fuse, Inc. Class A 4,354 110,592 0.0% Bel Fuse, Inc. Class B 13,898 393,174 0.0% # Belden, Inc. 72,712 5,176,367 0.1% * Benchmark Electronics, Inc. 86,360 2,048,459 0.0% Black Box Corp. 35,024 770,178 0.0% # Blackbaud, Inc. 60,179 2,677,965 0.0% * Blackhawk Network Holdings, Inc. Class B 57,716 1,927,714 0.0% * Blonder Tongue Laboratories 433 450 0.0% #* Blucora, Inc. 68,317 1,157,973 0.0% Booz Allen Hamilton Holding Corp. 68,296 1,799,600 0.0% #* Bottomline Technologies de, Inc. 63,828 1,601,445 0.0% Broadcom Corp. Class A 102,883 4,308,740 0.0% Broadridge Financial Solutions, Inc. 130,739 5,743,364 0.1% * BroadVision, Inc. 6,453 51,366 0.0% Brocade Communications Systems, Inc. 764,125 8,199,061 0.1% Brooks Automation, Inc. 157,042 1,936,328 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) * Bsquare Corp. 12,187 $ 47,651 0.0% * BTU International, Inc. 10,388 34,592 0.0% CA, Inc. 361,744 10,512,281 0.1% * Cabot Microelectronics Corp. 43,143 2,080,787 0.0% #* CACI International, Inc. Class A 43,835 3,607,182 0.0% #* Cadence Design Systems, Inc. 181,829 3,263,831 0.0% #* CalAmp Corp. 20,878 402,528 0.0% * Calix, Inc. 92,201 996,693 0.0% * Carbonite, Inc. 1,300 14,222 0.0% #* Cardtronics, Inc. 83,222 3,194,893 0.0% * Cartesian, Inc. 3,573 13,970 0.0% #* Cascade Microtech, Inc. 18,571 199,453 0.0% # Cass Information Systems, Inc. 19,570 930,358 0.0% * CDK Global, Inc. 28,645 962,472 0.0% CDW Corp. 13,766 424,543 0.0% #* Ceva, Inc. 35,254 574,640 0.0% * Checkpoint Systems, Inc. 75,378 999,512 0.0% #* ChyronHego Corp. 5,035 14,400 0.0% #* CIBER, Inc. 156,030 510,218 0.0% #* Ciena Corp. 140,804 2,359,875 0.0% #* Cirrus Logic, Inc. 111,773 2,157,219 0.0% Cisco Systems, Inc. 3,101,253 75,887,661 0.6% * Citrix Systems, Inc. 62,810 4,034,286 0.0% #* Clearfield, Inc. 20,285 297,784 0.0% * Cognex Corp. 121,707 4,814,729 0.1% * Cognizant Technology Solutions Corp. Class A 71,151 3,475,726 0.0% * Coherent, Inc. 38,640 2,517,396 0.0% Cohu, Inc. 39,824 406,205 0.0% Communications Systems, Inc. 17,110 202,411 0.0% * CommVault Systems, Inc. 19,732 874,917 0.0% Computer Sciences Corp. 211,468 12,772,667 0.1% Computer Task Group, Inc. 30,804 271,075 0.0% Compuware Corp. 333,104 3,381,006 0.0% * comScore, Inc. 18,134 764,167 0.0% Comtech Telecommunications Corp. 36,524 1,390,469 0.0% * Comverse, Inc. 1,587 34,597 0.0% #* Concur Technologies, Inc. 28,597 3,669,567 0.0% Concurrent Computer Corp. 14,271 101,324 0.0% #* Constant Contact, Inc. 31,960 1,130,106 0.0% # Convergys Corp. 178,498 3,600,305 0.0% #* Conversant, Inc. 228,447 8,052,757 0.1% * CoreLogic, Inc. 164,536 5,161,494 0.1% Corning, Inc. 540,527 11,042,967 0.1% #* CoStar Group, Inc. 31,541 5,080,940 0.1% * Covisint Corp. 46,719 135,018 0.0% #* Cray, Inc. 67,321 2,333,346 0.0% #* Cree, Inc. 126,414 3,979,513 0.0% #* Crexendo, Inc. 10,564 29,949 0.0% # CSG Systems International, Inc. 66,691 1,767,978 0.0% CSP, Inc. 2,797 22,292 0.0% # CTS Corp. 53,696 988,006 0.0% * CyberOptics Corp. 10,031 91,784 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) Daktronics, Inc. 74,082 $ 986,031 0.0% #* Datalink Corp. 35,705 451,668 0.0% #* Dealertrack Technologies, Inc. 75,751 3,564,085 0.0% #* Demand Media, Inc. 12,225 86,064 0.0% * Dice Holdings, Inc. 169,506 1,689,975 0.0% # Diebold, Inc. 95,830 3,395,257 0.0% #* Digi International, Inc. 40,813 337,932 0.0% # Digimarc Corp. 9,758 282,884 0.0% * Digital River, Inc. 63,502 1,623,746 0.0% * Diodes, Inc. 79,238 2,046,718 0.0% Dolby Laboratories, Inc. Class A 63,150 2,647,248 0.0% * Dot Hill Systems Corp. 71,103 280,857 0.0% * DSP Group, Inc. 33,785 327,377 0.0% DST Systems, Inc. 72,821 7,016,303 0.1% #* DTS, Inc. 30,920 920,798 0.0% # EarthLink Holdings Corp. 227,769 815,413 0.0% * eBay, Inc. 262,050 13,757,625 0.1% # Ebix, Inc. 58,742 866,444 0.0% #* Echelon Corp. 19,608 41,177 0.0% * EchoStar Corp. Class A 72,681 3,396,383 0.0% * Edgewater Technology, Inc. 10,488 74,045 0.0% * Elecsys Corp. 376 3,858 0.0% Electro Rent Corp. 38,351 584,469 0.0% # Electro Scientific Industries, Inc. 41,652 295,729 0.0% * Electronic Arts, Inc. 101,239 4,147,762 0.0% #* Electronics for Imaging, Inc. 80,322 3,672,322 0.0% #* Ellie Mae, Inc. 21,253 815,690 0.0% #* eMagin Corp. 12,094 32,049 0.0% EMC Corp. 1,136,231 32,643,917 0.3% * Emcore Corp. 33,414 172,416 0.0% #* Emulex Corp. 159,365 902,006 0.0% #* EnerNOC, Inc. 62,313 920,363 0.0% * Entegris, Inc. 231,042 3,137,550 0.0% #* Entropic Communications, Inc. 138,368 345,920 0.0% #* Envestnet, Inc. 15,854 704,235 0.0% #* EPAM Systems, Inc. 77,402 3,695,171 0.0% # EPIQ Systems, Inc. 60,421 969,153 0.0% * ePlus, Inc. 12,730 777,421 0.0% # Equinix, Inc. 32,137 6,713,419 0.1% #* Euronet Worldwide, Inc. 91,946 4,934,742 0.1% #* Exar Corp. 81,869 781,849 0.0% * ExlService Holdings, Inc. 54,236 1,518,066 0.0% #* Extreme Networks, Inc. 155,567 558,486 0.0% * F5 Networks, Inc. 24,411 3,002,065 0.0% #* Fabrinet 29,823 543,077 0.0% * Facebook, Inc. Class A 258,626 19,394,364 0.2% # FactSet Research Systems, Inc. 36,253 4,765,094 0.1% # Fair Isaac Corp. 66,008 4,112,298 0.0% * Fairchild Semiconductor International, Inc. 264,861 4,065,616 0.0% #* FalconStor Software, Inc. 50,770 57,370 0.0% #* FARO Technologies, Inc. 29,692 1,662,752 0.0% # FEI Co. 53,299 4,492,040 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) Fidelity National Information Services, Inc. 297,338 $ 17,361,566 0.1% #* Finisar Corp. 164,974 2,758,365 0.0% #* First Solar, Inc. 125,703 7,403,907 0.1% * Fiserv, Inc. 213,856 14,858,715 0.1% * FleetCor Technologies, Inc. 25,349 3,816,545 0.0% FLIR Systems, Inc. 189,013 6,337,606 0.1% * FormFactor, Inc. 108,009 860,832 0.0% Forrester Research, Inc. 34,676 1,396,749 0.0% * Fortinet, Inc. 24,220 630,931 0.0% #* Freescale Semiconductor, Ltd. 102,749 2,043,678 0.0% * Frequency Electronics, Inc. 10,710 121,558 0.0% * Gartner, Inc. 38,338 3,094,260 0.0% * Genpact, Ltd. 249,690 4,382,059 0.0% * GigOptix, Inc. 3,988 4,985 0.0% * Global Cash Access Holdings, Inc. 158,403 1,154,758 0.0% Global Payments, Inc. 103,620 8,341,410 0.1% # Globalscape, Inc. 11,741 29,118 0.0% * Google, Inc. Class A 34,906 19,822,070 0.2% * Google, Inc. Class C 31,606 17,670,282 0.1% #* GSE Systems, Inc. 19,854 29,980 0.0% * GSI Group, Inc. 50,058 643,245 0.0% * GSI Technology, Inc. 23,969 115,291 0.0% * GTT Communications, Inc. 30,900 401,082 0.0% #* Guidance Software, Inc. 17,697 119,101 0.0% Hackett Group, Inc. (The) 60,552 424,470 0.0% #* Harmonic, Inc. 252,108 1,681,560 0.0% Harris Corp. 77,003 5,359,409 0.1% # Heartland Payment Systems, Inc. 71,975 3,717,509 0.0% Hewlett-Packard Co. 1,806,885 64,831,034 0.5% * HomeAway, Inc. 44,071 1,538,078 0.0% * Hutchinson Technology, Inc. 36,975 132,001 0.0% # IAC/InterActiveCorp 165,687 11,215,353 0.1% * ID Systems, Inc. 15,829 118,718 0.0% * Identiv, Inc. 2,529 23,646 0.0% * IEC Electronics Corp. 9,658 47,807 0.0% * iGATE Corp. 104,258 3,862,759 0.0% * II-VI, Inc. 99,739 1,345,479 0.0% #* Imation Corp. 54,588 159,943 0.0% #* Immersion Corp. 28,268 238,017 0.0% #* Infinera Corp. 199,026 2,891,848 0.0% * Informatica Corp. 53,264 1,899,394 0.0% * Ingram Micro, Inc. Class A 270,020 7,247,337 0.1% * Innodata, Inc. 31,335 82,724 0.0% * Inphi Corp. 35,425 548,379 0.0% * Insight Enterprises, Inc. 89,361 2,032,963 0.0% * Integrated Device Technology, Inc. 244,054 4,004,926 0.0% Integrated Silicon Solution, Inc. 55,422 752,631 0.0% Intel Corp. 3,577,014 121,654,246 1.0% #* Intellicheck Mobilisa, Inc. 962 3,608 0.0% #* Interactive Intelligence Group, Inc. 20,026 966,455 0.0% # InterDigital, Inc. 60,962 3,013,352 0.0% #* Internap Network Services Corp. 89,721 718,665 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) International Business Machines Corp. 186,013 $ 30,580,537 0.2% * International Rectifier Corp. 130,262 5,180,520 0.1% * Interphase Corp. 5,636 16,513 0.0% Intersil Corp. Class A 214,564 2,851,556 0.0% * inTEST Corp. 3,806 16,594 0.0% #* Intevac, Inc. 31,727 234,780 0.0% * IntraLinks Holdings, Inc. 7,168 61,932 0.0% * IntriCon Corp. 8,894 54,520 0.0% Intuit, Inc. 54,398 4,787,568 0.1% #* Inuvo, Inc. 3,679 4,930 0.0% #* InvenSense, Inc. 4,750 76,998 0.0% #* IPG Photonics Corp. 66,639 4,891,969 0.1% * Iteris, Inc. 12,775 22,229 0.0% #* Itron, Inc. 61,554 2,396,297 0.0% #* Ixia 122,922 1,183,739 0.0% # IXYS Corp. 56,743 662,191 0.0% # j2 Global, Inc. 93,294 5,046,272 0.1% Jabil Circuit, Inc. 369,944 7,750,327 0.1% Jack Henry & Associates, Inc. 91,068 5,447,688 0.1% * JDS Uniphase Corp. 315,326 4,244,288 0.0% Juniper Networks, Inc. 361,660 7,620,176 0.1% #* Kemet Corp. 66,332 318,394 0.0% * Key Tronic Corp. 14,320 117,710 0.0% KLA-Tencor Corp. 120,499 9,537,496 0.1% #* Knowles Corp. 65,185 1,268,500 0.0% * Kofax, Ltd. 8,774 55,715 0.0% #* Kopin Corp. 98,511 374,342 0.0% * Kulicke & Soffa Industries, Inc. 143,359 2,067,237 0.0% #* KVH Industries, Inc. 26,340 340,313 0.0% Lam Research Corp. 151,919 11,828,413 0.1% * Lattice Semiconductor Corp. 190,322 1,277,061 0.0% Leidos Holdings, Inc. 144,206 5,273,613 0.1% # Lexmark International, Inc. Class A 162,934 7,032,231 0.1% * LGL Group, Inc. (The) 2,633 9,979 0.0% #* Limelight Networks, Inc. 150,081 366,198 0.0% Linear Technology Corp. 107,537 4,606,885 0.0% * LinkedIn Corp. Class A 5,004 1,145,716 0.0% #* Lionbridge Technologies, Inc. 124,746 602,523 0.0% #* Liquidity Services, Inc. 4,258 54,417 0.0% Littelfuse, Inc. 39,389 3,842,003 0.0% * LoJack Corp. 43,904 123,809 0.0% #* M/A-COM Technology Solutions Holdings, Inc. 1,751 38,504 0.0% * Magnachip Semiconductor Corp. 60,645 674,979 0.0% * Manhattan Associates, Inc. 151,364 6,071,210 0.1% # ManTech International Corp. Class A 44,659 1,257,597 0.0% Marchex, Inc. Class B 38,409 147,106 0.0% Marvell Technology Group, Ltd. 501,434 6,739,273 0.1% MasterCard, Inc. Class A 193,075 16,170,031 0.1% #* Mattersight Corp. 5,001 27,105 0.0% * Mattson Technology, Inc. 52,364 139,288 0.0% Maxim Integrated Products, Inc. 200,801 5,891,501 0.1% MAXIMUS, Inc. 160,389 7,772,451 0.1% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) * MaxLinear, Inc. Class A 11,432 $ 81,053 0.0% #* Maxwell Technologies, Inc. 55,751 650,057 0.0% # Mentor Graphics Corp. 202,932 4,300,129 0.0% #* Mercury Systems, Inc. 46,684 652,642 0.0% # Mesa Laboratories, Inc. 6,175 471,585 0.0% Methode Electronics, Inc. 63,895 2,516,185 0.0% # Micrel, Inc. 97,988 1,189,574 0.0% # Microchip Technology, Inc. 99,362 4,283,496 0.0% * Micron Technology, Inc. 1,086,356 35,947,520 0.3% * Microsemi Corp. 160,256 4,177,874 0.0% Microsoft Corp. 1,737,915 81,595,109 0.6% MKS Instruments, Inc. 102,544 3,732,602 0.0% MOCON, Inc. 8,521 131,479 0.0% #* ModusLink Global Solutions, Inc. 57,190 200,165 0.0% #* MoneyGram International, Inc. 20,083 172,714 0.0% Monolithic Power Systems, Inc. 59,761 2,640,839 0.0% # Monotype Imaging Holdings, Inc. 58,179 1,664,501 0.0% * Monster Worldwide, Inc. 198,800 767,368 0.0% #* MoSys, Inc. 65,993 177,521 0.0% Motorola Solutions, Inc. 103,690 6,688,005 0.1% #* Move, Inc. 47,348 991,941 0.0% # MTS Systems Corp. 27,894 1,841,283 0.0% #* Multi-Fineline Electronix, Inc. 34,615 351,342 0.0% #* Nanometrics, Inc. 39,107 529,509 0.0% * NAPCO Security Technologies, Inc. 17,222 73,710 0.0% National Instruments Corp. 46,027 1,458,135 0.0% * NCI, Inc. Class A 10,441 106,289 0.0% * NCR Corp. 307,421 8,506,339 0.1% NetApp, Inc. 296,663 12,697,176 0.1% * NETGEAR, Inc. 64,569 2,197,929 0.0% * Netlist, Inc. 31,529 28,773 0.0% #* Netscout Systems, Inc. 69,780 2,572,091 0.0% #* NetSuite, Inc. 15,289 1,661,303 0.0% #* NeuStar, Inc. Class A 56,098 1,481,548 0.0% * Newport Corp. 69,448 1,242,425 0.0% NIC, Inc. 41,620 767,057 0.0% #* Novatel Wireless, Inc. 48,740 138,909 0.0% #* Nuance Communications, Inc. 445,281 6,870,686 0.1% #* Numerex Corp. Class A 18,298 238,606 0.0% NVIDIA Corp. 406,868 7,950,201 0.1% #* Oclaro, Inc. 106,869 167,784 0.0% * OmniVision Technologies, Inc. 90,827 2,432,347 0.0% * ON Semiconductor Corp. 629,204 5,216,101 0.1% #* Onvia, Inc. 1,484 6,470 0.0% Oplink Communications, Inc. 33,991 708,712 0.0% Optical Cable Corp. 8,150 37,816 0.0% Oracle Corp. 1,022,019 39,909,842 0.3% * OSI Systems, Inc. 35,144 2,491,007 0.0% #* Overland Storage, Inc. 213 556 0.0% #* Palo Alto Networks, Inc. 6,466 683,456 0.0% * Pandora Media, Inc. 7,765 149,709 0.0% * PAR Technology Corp. 17,200 88,391 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) # Park Electrochemical Corp. 30,476 $ 786,281 0.0% #* Parkervision, Inc. 3,828 5,015 0.0% Paychex, Inc. 172,884 8,115,175 0.1% PC Connection, Inc. 37,385 891,632 0.0% PC-Tel, Inc. 30,780 237,006 0.0% * PCM, Inc. 14,131 136,505 0.0% * PDF Solutions, Inc. 45,743 593,287 0.0% Pegasystems, Inc. 32,547 705,293 0.0% Perceptron, Inc. 10,412 104,849 0.0% * Perficient, Inc. 58,442 968,968 0.0% * Pericom Semiconductor Corp. 34,672 378,965 0.0% * Photronics, Inc. 99,710 896,393 0.0% * Planar Systems, Inc. 21,613 78,239 0.0% # Plantronics, Inc. 79,726 4,135,388 0.0% * Plexus Corp. 59,975 2,479,966 0.0% * PMC-Sierra, Inc. 348,768 2,716,903 0.0% * Polycom, Inc. 280,602 3,670,274 0.0% Power Integrations, Inc. 42,415 2,136,019 0.0% #* PRGX Global, Inc. 39,286 207,823 0.0% #* Procera Networks, Inc. 20,256 151,717 0.0% * Progress Software Corp. 95,302 2,468,322 0.0% * PTC, Inc. 152,394 5,813,831 0.1% QAD, Inc. Class A 13,973 300,559 0.0% QAD, Inc. Class B 5,440 100,640 0.0% * QLogic Corp. 150,920 1,782,365 0.0% QUALCOMM, Inc. 393,081 30,860,789 0.3% * Qualstar Corp. 8,094 9,956 0.0% #* Quantum Corp. 185,179 237,029 0.0% #* QuinStreet, Inc. 15,854 64,209 0.0% * Qumu Corp. 13,779 206,134 0.0% #* Rackspace Hosting, Inc. 152,140 5,836,090 0.1% * Radisys Corp. 40,860 102,150 0.0% #* Rambus, Inc. 194,593 2,228,090 0.0% #* RealD, Inc. 38,278 433,307 0.0% * RealNetworks, Inc. 173,849 1,199,558 0.0% #* RealPage, Inc. 17,625 350,209 0.0% * Red Hat, Inc. 54,458 3,208,665 0.0% Reis, Inc. 16,269 380,695 0.0% #* Relm Wireless Corp. 4,040 22,422 0.0% #* Remark Media, Inc. 1,990 9,632 0.0% # RF Industries, Ltd. 10,694 48,658 0.0% #* RF Micro Devices, Inc. 468,193 6,091,191 0.1% Richardson Electronics, Ltd. 20,031 200,510 0.0% #* Rightside Group, Ltd. 9,831 93,100 0.0% * Riverbed Technology, Inc. 145,957 2,771,723 0.0% * Rofin-Sinar Technologies, Inc. 43,160 966,352 0.0% #* Rogers Corp. 28,881 1,974,594 0.0% #* Rosetta Stone, Inc. 37,189 355,899 0.0% * Rovi Corp. 175,106 3,656,213 0.0% #* Rubicon Technology, Inc. 33,298 147,510 0.0% #* Rudolph Technologies, Inc. 52,178 458,123 0.0% * Saba Software, Inc. 27,173 364,118 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) * Salesforce.com, Inc. 50,500 $ 3,231,495 0.0% # SanDisk Corp. 133,559 12,573,244 0.1% * Sanmina Corp. 153,576 3,850,150 0.0% * Sapient Corp. 275,771 4,776,354 0.1% * ScanSource, Inc. 46,830 1,787,969 0.0% Science Applications International Corp. 96,785 4,733,754 0.0% * Seachange International, Inc. 54,135 365,953 0.0% # Seagate Technology P.L.C. 143,096 8,990,722 0.1% * Selectica, Inc. 538 3,193 0.0% #* Semtech Corp. 108,911 2,764,161 0.0% * ServiceNow, Inc. 8,002 543,576 0.0% #* Sevcon, Inc. 1,585 12,062 0.0% * ShoreTel, Inc. 99,589 805,675 0.0% #* Shutterstock, Inc. 17,127 1,331,796 0.0% * Sigma Designs, Inc. 60,500 241,395 0.0% #* Silicon Graphics International Corp. 36,240 314,563 0.0% * Silicon Image, Inc. 133,793 717,130 0.0% * Silicon Laboratories, Inc. 72,009 3,282,890 0.0% Skyworks Solutions, Inc. 272,631 15,878,029 0.1% #* Smith Micro Software, Inc. 43,203 42,339 0.0% * SMTC Corp. 1,900 3,344 0.0% * SolarWinds, Inc. 46,717 2,221,393 0.0% Solera Holdings, Inc. 42,897 2,228,499 0.0% #* Sonic Foundry, Inc. 619 5,738 0.0% #* Sonus Networks, Inc. 490,866 1,703,305 0.0% #* Spansion, Inc. Class A 95,073 1,956,602 0.0% #* Speed Commerce, Inc. 45,303 134,550 0.0% * SS&C Technologies Holdings, Inc. 110,081 5,319,114 0.1% * Stamps.com, Inc. 29,084 1,073,200 0.0% * StarTek, Inc. 16,081 120,929 0.0% #* Stratasys, Ltd. 55,436 6,672,277 0.1% #* SunEdison, Inc. 331,125 6,460,249 0.1% #* SunPower Corp. 188,978 6,017,060 0.1% * Super Micro Computer, Inc. 65,217 2,084,335 0.0% * support.com, Inc. 85,790 182,733 0.0% * Sykes Enterprises, Inc. 80,741 1,739,161 0.0% Symantec Corp. 643,117 15,962,164 0.1% #* Synaptics, Inc. 72,469 4,959,054 0.1% #* Synchronoss Technologies, Inc. 67,509 3,488,190 0.0% # SYNNEX Corp. 75,988 5,256,850 0.1% * Synopsys, Inc. 114,012 4,672,212 0.0% * Syntel, Inc. 23,707 2,053,263 0.0% #* Take-Two Interactive Software, Inc. 357,940 9,467,513 0.1% TE Connectivity, Ltd. 199,000 12,164,870 0.1% * Tech Data Corp. 75,040 4,481,389 0.0% #* TechTarget, Inc. 1,901 18,136 0.0% * TeleCommunication Systems, Inc. Class A 80,413 231,589 0.0% #* Telenav, Inc. 61,868 446,687 0.0% * TeleTech Holdings, Inc. 93,633 2,416,668 0.0% #* Teradata Corp. 180,525 7,639,818 0.1% # Teradyne, Inc. 333,587 6,138,001 0.1% Tessco Technologies, Inc. 14,125 448,469 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) Tessera Technologies, Inc. 93,945 $ 2,854,989 0.0% Texas Instruments, Inc. 250,800 12,454,728 0.1% TheStreet, Inc. 30,782 70,491 0.0% #* TIBCO Software, Inc. 80,837 1,889,161 0.0% #* TiVo, Inc. 85,801 1,119,703 0.0% Total System Services, Inc. 304,233 10,280,033 0.1% # Transact Technologies, Inc. 12,325 70,622 0.0% * Trimble Navigation, Ltd. 57,961 1,556,832 0.0% * Trio Tech International 3,963 15,258 0.0% * TriQuint Semiconductor, Inc. 272,056 5,884,571 0.1% * TSR, Inc. 751 2,463 0.0% #* TTM Technologies, Inc. 134,297 927,992 0.0% #* Twitter, Inc. 11,007 456,460 0.0% #* Tyler Technologies, Inc. 36,620 4,098,510 0.0% # Ubiquiti Networks, Inc. 19,386 693,437 0.0% #* Ultimate Software Group, Inc. (The) 8,744 1,316,059 0.0% * Ultra Clean Holdings, Inc. 33,882 297,484 0.0% #* Ultratech, Inc. 50,878 973,296 0.0% #* Unisys Corp. 50,672 1,299,230 0.0% United Online, Inc. 22,542 252,921 0.0% * Universal Security Instruments, Inc. 1,873 11,613 0.0% * Unwired Planet, Inc. 83,139 128,865 0.0% #* USA Technologies, Inc. 16,331 28,416 0.0% * UTStarcom Holdings Corp. 23,800 59,976 0.0% * Vantiv, Inc. Class A 122,794 3,796,790 0.0% #* Veeco Instruments, Inc. 68,985 2,482,770 0.0% * VeriFone Systems, Inc. 179,648 6,693,684 0.1% * Verint Systems, Inc. 94,582 5,437,519 0.1% #* VeriSign, Inc. 39,976 2,388,966 0.0% #* ViaSat, Inc. 69,289 4,340,263 0.0% * Viasystems Group, Inc. 26,304 417,444 0.0% # Vicon Industries, Inc. 3,400 5,406 0.0% #* Video Display Corp. 10,670 31,477 0.0% #* Virtusa Corp. 54,146 2,218,903 0.0% Visa, Inc. Class A 136,797 33,026,900 0.3% # Vishay Intertechnology, Inc. 228,400 3,085,684 0.0% #* Vishay Precision Group, Inc. 24,604 418,022 0.0% #* VistaPrint NV 36,517 2,441,527 0.0% #* VMware, Inc. Class A 8,843 739,010 0.0% #* Wave Systems Corp. Class A 2,000 2,340 0.0% Wayside Technology Group, Inc. 5,310 91,863 0.0% * Web.com Group, Inc. 74,635 1,532,257 0.0% #* WebMD Health Corp. 43,438 1,853,934 0.0% * Westell Technologies, Inc. Class A 72,666 97,372 0.0% Western Digital Corp. 226,163 22,247,654 0.2% # Western Union Co. (The) 193,093 3,274,857 0.0% * WEX, Inc. 43,750 4,968,250 0.1% * Wireless Telecom Group, Inc. 9,995 24,888 0.0% #* Workday, Inc. Class A 8,095 772,911 0.0% * Xcerra Corp. 78,246 664,309 0.0% Xerox Corp. 1,425,143 18,925,899 0.2% Xilinx, Inc. 127,758 5,682,676 0.1% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) #* XO Group, Inc. 47,111 $ 599,723 0.0% * Yahoo!, Inc. 202,442 9,322,454 0.1% #* Yelp, Inc. 727 43,620 0.0% * Zebra Technologies Corp. Class A 86,754 6,398,107 0.1% #* Zillow, Inc. Class A 4,542 493,852 0.0% #* Zix Corp. 103,966 343,088 0.0% #* Zynga, Inc. Class A 1,067,775 2,722,826 0.0% -------------------- ------------------ Total Information Technology 2,064,735,256 16.0% -------------------- ------------------ Materials -- (4.7%) A Schulman, Inc. 50,391 1,784,345 0.0% * AEP Industries, Inc. 9,759 448,816 0.0% Air Products & Chemicals, Inc. 40,689 5,479,181 0.0% Airgas, Inc. 86,537 9,652,337 0.1% # Albemarle Corp. 127,911 7,467,444 0.1% Alcoa, Inc. 1,148,859 19,254,877 0.2% # Allegheny Technologies, Inc. 187,672 6,165,025 0.1% #* Allied Nevada Gold Corp. 17,205 23,915 0.0% #* AM Castle & Co. 37,054 272,347 0.0% * American Biltrite, Inc. 36 16,020 0.0% # American Vanguard Corp. 49,377 569,811 0.0% Ampco-Pittsburgh Corp. 14,266 310,856 0.0% Aptargroup, Inc. 93,531 5,821,369 0.1% Ashland, Inc. 89,686 9,692,366 0.1% # Avery Dennison Corp. 190,519 8,925,815 0.1% Axiall Corp. 116,222 4,683,747 0.0% # Balchem Corp. 33,711 2,181,102 0.0% Ball Corp. 59,887 3,858,519 0.0% Bemis Co., Inc. 173,945 6,691,664 0.1% * Berry Plastics Group, Inc. 85,232 2,217,737 0.0% Cabot Corp. 106,763 4,957,006 0.0% * Calgon Carbon Corp. 96,266 2,024,474 0.0% Carpenter Technology Corp. 97,596 4,884,680 0.0% Celanese Corp. Series A 188,198 11,052,869 0.1% * Century Aluminum Co. 199,378 5,837,788 0.1% CF Industries Holdings, Inc. 78,746 20,473,960 0.2% # Chase Corp. 11,789 422,871 0.0% * Chemtura Corp. 175,014 4,076,076 0.0% * Clearwater Paper Corp. 35,564 2,288,543 0.0% # Cliffs Natural Resources, Inc. 269,008 3,020,960 0.0% #* Codexis, Inc. 13,246 33,910 0.0% #* Coeur Mining, Inc. 145,280 537,536 0.0% Commercial Metals Co. 241,446 4,174,601 0.0% Compass Minerals International, Inc. 55,390 4,745,815 0.0% #* Contango ORE, Inc. 1,821 14,113 0.0% * Continental Materials Corp. 1,019 16,498 0.0% * Core Molding Technologies, Inc. 11,130 148,029 0.0% * Crown Holdings, Inc. 49,085 2,352,644 0.0% Cytec Industries, Inc. 147,462 6,876,153 0.1% # Deltic Timber Corp. 16,351 1,064,287 0.0% Domtar Corp. 118,340 4,860,224 0.0% Dow Chemical Co. (The) 754,020 37,248,588 0.3% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Materials -- (Continued) Eagle Materials, Inc. 69,674 $ 6,091,598 0.1% Eastman Chemical Co. 217,423 17,563,430 0.1% Ecolab, Inc. 61,063 6,792,037 0.1% EI du Pont de Nemours & Co. 322,034 22,268,651 0.2% * Ferro Corp. 343,346 4,504,700 0.0% #* Flotek Industries, Inc. 98,253 2,177,286 0.0% FMC Corp. 61,535 3,529,032 0.0% Freeport-McMoRan, Inc. 904,697 25,783,864 0.2% Friedman Industries, Inc. 13,567 103,652 0.0% FutureFuel Corp. 65,415 871,328 0.0% #* General Moly, Inc. 142,545 94,080 0.0% Globe Specialty Metals, Inc. 130,087 2,446,936 0.0% * Graphic Packaging Holding Co. 809,204 9,815,644 0.1% Greif, Inc. Class A 45,887 2,021,781 0.0% # Greif, Inc. Class B 28,377 1,425,093 0.0% # Hawkins, Inc. 16,367 630,293 0.0% Haynes International, Inc. 21,864 1,016,457 0.0% # HB Fuller Co. 87,575 3,675,523 0.0% #* Headwaters, Inc. 130,608 1,658,722 0.0% # Hecla Mining Co. 472,175 1,029,341 0.0% #* Horsehead Holding Corp. 92,871 1,459,003 0.0% Huntsman Corp. 422,507 10,309,171 0.1% Innophos Holdings, Inc. 42,952 2,448,264 0.0% Innospec, Inc. 42,337 1,709,145 0.0% International Flavors & Fragrances, Inc. 28,784 2,853,934 0.0% International Paper Co. 320,185 16,207,765 0.1% #* Intrepid Potash, Inc. 102,060 1,372,707 0.0% # Kaiser Aluminum Corp. 29,817 2,073,772 0.0% * KapStone Paper and Packaging Corp. 266,922 8,210,521 0.1% # KMG Chemicals, Inc. 17,877 316,423 0.0% Koppers Holdings, Inc. 18,579 733,499 0.0% * Kraton Performance Polymers, Inc. 54,040 966,776 0.0% # Kronos Worldwide, Inc. 84,537 1,136,177 0.0% #* Landec Corp. 43,489 547,526 0.0% #* Louisiana-Pacific Corp. 240,244 3,507,562 0.0% * LSB Industries, Inc. 40,866 1,533,701 0.0% LyondellBasell Industries NV Class A 200,783 18,397,746 0.2% # Martin Marietta Materials, Inc. 77,081 9,012,310 0.1% # Materion Corp. 42,845 1,690,235 0.0% #* McEwen Mining, Inc. 271,668 336,868 0.0% MeadWestvaco Corp. 178,594 7,888,497 0.1% #* Mercer International, Inc. 78,277 984,725 0.0% Minerals Technologies, Inc. 62,370 4,784,403 0.0% #* Mines Management, Inc. 13,118 6,821 0.0% #* Molycorp, Inc. 13,274 18,318 0.0% Monsanto Co. 74,391 8,557,941 0.1% Mosaic Co. (The) 216,241 9,581,639 0.1% # Myers Industries, Inc. 71,052 1,061,517 0.0% Neenah Paper, Inc. 33,165 2,023,397 0.0% # NewMarket Corp. 16,011 6,212,428 0.1% Newmont Mining Corp. 425,692 7,985,982 0.1% Noranda Aluminum Holding Corp. 62,803 276,961 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Materials -- (Continued) * Northern Technologies International Corp. 5,900 $ 110,448 0.0% Nucor Corp. 203,610 11,007,157 0.1% # Olin Corp. 150,919 3,658,277 0.0% # Olympic Steel, Inc. 18,610 374,433 0.0% # OM Group, Inc. 51,767 1,347,495 0.0% #* OMNOVA Solutions, Inc. 74,995 527,215 0.0% * Owens-Illinois, Inc. 361,823 9,324,179 0.1% Packaging Corp. of America 125,070 9,015,046 0.1% * Penford Corp. 22,102 416,623 0.0% PH Glatfelter Co. 63,321 1,597,589 0.0% # PolyOne Corp. 165,759 6,134,741 0.1% PPG Industries, Inc. 23,299 4,745,773 0.0% Praxair, Inc. 84,643 10,664,172 0.1% # Quaker Chemical Corp. 25,588 2,100,263 0.0% Reliance Steel & Aluminum Co. 130,074 8,777,394 0.1% #* Rentech, Inc. 296,041 470,705 0.0% * Resolute Forest Products, Inc. 5,403 100,280 0.0% Rock-Tenn Co. Class A 174,624 8,932,018 0.1% Rockwood Holdings, Inc. 108,630 8,354,733 0.1% # Royal Gold, Inc. 89,350 5,106,352 0.0% RPM International, Inc. 144,151 6,530,040 0.1% * RTI International Metals, Inc. 49,088 1,156,022 0.0% # Schnitzer Steel Industries, Inc. Class A 62,832 1,479,694 0.0% # Schweitzer-Mauduit International, Inc. 54,167 2,332,431 0.0% Scotts Miracle-Gro Co. (The) Class A 58,513 3,466,310 0.0% Sealed Air Corp. 185,920 6,739,600 0.1% #* Senomyx, Inc. 26,984 213,713 0.0% Sensient Technologies Corp. 86,790 5,136,232 0.0% Sherwin-Williams Co. (The) 19,100 4,384,596 0.0% Sigma-Aldrich Corp. 22,268 3,026,444 0.0% Silgan Holdings, Inc. 79,276 3,897,208 0.0% #* Solitario Exploration & Royalty Corp. 2,615 2,641 0.0% Sonoco Products Co. 152,660 6,239,214 0.1% # Southern Copper Corp. 36,549 1,051,880 0.0% Steel Dynamics, Inc. 419,814 9,659,920 0.1% Stepan Co. 36,797 1,629,371 0.0% #* Stillwater Mining Co. 199,600 2,620,748 0.0% * SunCoke Energy, Inc. 128,074 3,060,969 0.0% # Synalloy Corp. 11,060 178,619 0.0% TimkenSteel Corp. 61,393 2,491,328 0.0% #* Trecora Resources 13,281 174,645 0.0% Tredegar Corp. 33,747 641,868 0.0% Tronox, Ltd. Class A 88,061 2,129,315 0.0% # United States Lime & Minerals, Inc. 8,788 616,127 0.0% # United States Steel Corp. 253,794 10,161,912 0.1% #* Universal Stainless & Alloy Products, Inc. 10,522 270,521 0.0% # US Silica Holdings, Inc. 63,802 2,864,710 0.0% # Valhi, Inc. 92,519 547,712 0.0% Valspar Corp. (The) 79,825 6,558,422 0.1% #* Verso Paper Corp. 33,897 98,301 0.0% Vulcan Materials Co. 127,191 7,848,957 0.1% # Walter Energy, Inc. 58,723 141,522 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------ Materials -- (Continued) # Wausau Paper Corp. 84,948 $ 840,136 0.0% Westlake Chemical Corp. 178,816 12,615,469 0.1% Worthington Industries, Inc. 154,045 5,953,839 0.1% * WR Grace & Co. 39,559 3,742,281 0.0% Zep, Inc. 32,478 521,597 0.0% -------------------- ------------------ Total Materials 678,123,307 5.3% -------------------- ------------------ Other -- (0.0%) (Degree)* Brooklyn Federal Bancorp, Inc. Escrow Shares 7,873 -- 0.0% (Degree)* Concord Camera Corp. Escrow Shares 2,339 -- 0.0% (Degree)* FRD Acquisition Co. Escrow Shares 4,235 -- 0.0% (Degree)* Gerber Scientific, Inc. Escrow Shares 30,731 -- 0.0% (Degree)* Softbrands, Inc. Escrow Shares 14,700 -- 0.0% -------------------- ------------------ Total Other -- 0.0% -------------------- ------------------ Real Estate Investment Trusts -- (0.0%) #* CareTrust REIT, Inc. 38,205 593,324 0.0% -------------------- ------------------ Telecommunication Services -- (2.5%) #* 8x8, Inc. 64,500 506,970 0.0% #* Alaska Communications Systems Group, Inc. 1,200 1,620 0.0% #* Alteva 9,033 64,134 0.0% AT&T, Inc. 5,301,166 184,692,623 1.4% # Atlantic Tele-Network, Inc. 23,682 1,591,194 0.0% #* Boingo Wireless, Inc. 16,070 112,651 0.0% CenturyLink, Inc. 395,919 16,422,720 0.1% #* Cincinnati Bell, Inc. 355,874 1,306,058 0.0% Cogent Communications Holdings, Inc. 39,014 1,324,135 0.0% # Consolidated Communications Holdings, Inc. 89,880 2,327,892 0.0% # Frontier Communications Corp. 1,735,609 11,350,883 0.1% * General Communication, Inc. Class A 68,401 802,344 0.0% #* Hawaiian Telcom Holdco, Inc. 367 9,872 0.0% #* HC2 Holdings, Inc. 10,474 55,512 0.0% IDT Corp. Class B 37,776 622,548 0.0% Inteliquent, Inc. 97,435 1,639,831 0.0% #* Intelsat SA 8,897 173,136 0.0% #* Iridium Communications, Inc. 104,650 994,175 0.0% #* Level 3 Communications, Inc. 100,156 4,698,318 0.1% # Lumos Networks Corp. 33,623 578,316 0.0% # NTELOS Holdings Corp. 36,307 365,974 0.0% #* ORBCOMM, Inc. 70,340 444,549 0.0% * Premiere Global Services, Inc. 88,268 924,166 0.0% * SBA Communications Corp. Class A 60,940 6,845,390 0.1% Shenandoah Telecommunications Co. 38,717 1,145,636 0.0% Spok Holdings, Inc. 38,503 625,289 0.0% #* Sprint Corp. 344,000 2,039,920 0.0% #* Straight Path Communications, Inc. Class B 17,280 373,248 0.0% * T-Mobile US, Inc. 98,640 2,879,302 0.0% Telephone & Data Systems, Inc. 188,155 4,824,294 0.1% * tw telecom, Inc. 125,000 5,347,500 0.1% #* United States Cellular Corp. 49,354 1,797,473 0.0% Verizon Communications, Inc. 1,840,744 92,497,386 0.7% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Telecommunication Services -- (Continued) * Vonage Holdings Corp. 375,899 $ 1,308,128 0.0% # Windstream Holdings, Inc. 1,243,736 13,034,353 0.1% -------------------- ------------------ Total Telecommunication Services 363,727,540 2.8% -------------------- ------------------ Utilities -- (1.8%) AES Corp. 363,859 5,119,496 0.1% AGL Resources, Inc. 69,040 3,721,946 0.0% # ALLETE, Inc. 62,277 3,253,350 0.0% Alliant Energy Corp. 36,568 2,263,925 0.0% Ameren Corp. 65,294 2,764,548 0.0% American Electric Power Co., Inc. 70,433 4,109,061 0.1% American States Water Co. 56,210 2,011,194 0.0% American Water Works Co., Inc. 48,949 2,612,408 0.0% # Aqua America, Inc. 110,746 2,901,545 0.0% # Artesian Resources Corp. Class A 5,997 133,553 0.0% # Atmos Energy Corp. 68,333 3,621,649 0.0% # Avista Corp. 91,527 3,244,632 0.0% # Black Hills Corp. 66,602 3,645,127 0.0% #* Cadiz, Inc. 5,844 58,206 0.0% California Water Service Group 61,208 1,593,244 0.0% #* Calpine Corp. 395,949 9,035,556 0.1% CenterPoint Energy, Inc. 121,531 2,983,586 0.0% # Chesapeake Utilities Corp. 21,161 1,024,827 0.0% Cleco Corp. 53,705 2,887,181 0.0% CMS Energy Corp. 72,197 2,358,676 0.0% # Connecticut Water Service, Inc. 14,550 540,824 0.0% # Consolidated Edison, Inc. 59,470 3,768,019 0.0% # Consolidated Water Co., Ltd. 20,526 246,107 0.0% Delta Natural Gas Co., Inc. 5,328 110,396 0.0% Dominion Resources, Inc. 95,695 6,823,053 0.1% DTE Energy Co. 43,043 3,536,413 0.0% Duke Energy Corp. 118,630 9,745,454 0.1% #* Dynegy, Inc. 117,823 3,593,601 0.0% Edison International 61,989 3,879,272 0.1% # El Paso Electric Co. 60,213 2,278,460 0.0% Empire District Electric Co. (The) 56,294 1,601,001 0.0% Entergy Corp. 55,273 4,644,037 0.1% # Exelon Corp. 131,645 4,816,891 0.1% FirstEnergy Corp. 82,596 3,084,135 0.0% Gas Natural, Inc. 5,156 58,521 0.0% #* Genie Energy, Ltd. Class B 32,165 233,196 0.0% # Great Plains Energy, Inc. 111,190 2,994,347 0.0% # Hawaiian Electric Industries, Inc. 104,140 2,932,582 0.0% # IDACORP, Inc. 74,322 4,699,380 0.1% Integrys Energy Group, Inc. 52,641 3,825,948 0.1% ITC Holdings Corp. 95,635 3,788,102 0.0% # Laclede Group, Inc. (The) 58,212 2,955,423 0.0% MDU Resources Group, Inc. 97,688 2,752,848 0.0% # MGE Energy, Inc. 40,195 1,787,472 0.0% # Middlesex Water Co. 19,687 443,942 0.0% # National Fuel Gas Co. 27,050 1,872,672 0.0% # New Jersey Resources Corp. 61,869 3,618,099 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Utilities -- (Continued) NextEra Energy, Inc. 71,731 $ 7,188,881 0.1% NiSource, Inc. 85,928 3,614,132 0.0% # Northeast Utilities 86,388 4,263,248 0.1% # Northwest Natural Gas Co. 33,223 1,559,155 0.0% # NorthWestern Corp. 58,159 3,073,122 0.0% NRG Energy, Inc. 288,306 8,643,414 0.1% NRG Yield, Inc. Class A 2,131 106,486 0.0% OGE Energy Corp. 67,992 2,535,422 0.0% # ONE Gas, Inc. 49,908 1,894,009 0.0% # Ormat Technologies, Inc. 65,592 1,898,888 0.0% # Otter Tail Corp. 45,443 1,408,733 0.0% Pepco Holdings, Inc. 118,685 3,244,848 0.0% PG&E Corp. 59,261 2,982,014 0.0% Piedmont Natural Gas Co., Inc. 72,243 2,745,956 0.0% Pinnacle West Capital Corp. 35,700 2,194,479 0.0% # PNM Resources, Inc. 116,842 3,370,892 0.0% # Portland General Electric Co. 116,719 4,249,739 0.1% PPL Corp. 90,828 3,178,072 0.0% Public Service Enterprise Group, Inc. 103,424 4,272,445 0.1% Questar Corp. 212,969 5,134,683 0.1% RGC Resources, Inc. 2,942 59,546 0.0% # SCANA Corp. 25,601 1,405,239 0.0% Sempra Energy 36,860 4,054,600 0.1% SJW Corp. 26,109 834,444 0.0% # South Jersey Industries, Inc. 49,267 2,889,017 0.0% Southern Co. (The) 118,259 5,482,487 0.1% Southwest Gas Corp. 69,336 4,027,728 0.1% # TECO Energy, Inc. 125,629 2,463,585 0.0% UGI Corp. 300,526 11,326,825 0.1% # UIL Holdings Corp. 76,201 3,134,909 0.0% # Unitil Corp. 20,656 719,655 0.0% # Vectren Corp. 50,387 2,264,896 0.0% # Westar Energy, Inc. 83,807 3,168,743 0.0% # WGL Holdings, Inc. 75,218 3,535,246 0.0% # Wisconsin Energy Corp. 50,830 2,524,218 0.0% Xcel Energy, Inc. 113,995 3,815,413 0.0% # York Water Co. 14,530 319,369 0.0% -------------------- ------------------ Total Utilities 259,558,443 2.0% -------------------- ------------------ TOTAL COMMON STOCKS 12,863,508,717 99.6% -------------------- ------------------ PREFERRED STOCKS -- (0.0%) Other -- (0.0%) (Degree)* Enron TOPRS Escrow Shares 1,977 -- 0.0% -------------------- ------------------ RIGHTS/WARRANTS -- (0.0%) (Degree)* Capital Bank Corp. Contingent Value Rights 7,309 -- 0.0% (Degree)* Community Health Systems, Inc. Rights 01/04/16 396,076 11,843 0.0% (Degree)* Eagle Bulk Shipping, Inc. Warrants 10/15/21 17 43 0.0% (Degree)* Leap Wireless International, Inc. Contingent Value Rights 89,942 226,654 0.0% (Degree)* LGL Group, Inc. (The) Warrants 08/06/18 13,165 262 0.0% (Degree)#* Magnum Hunter Resources Corp. Warrants 04/15/16 22,231 -- 0.0% U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- (Degree)* PhotoMedex, Inc. Contingent Value Warrants 12/13/14 888 $ -- 0.0% (Degree)#* Sears Holdings Corp. Rights 11/07/14 125,301 3,007 0.0% (Degree)* Tejon Ranch Co. Warrants 08/31/16 4,892 10,273 0.0% -------------------- ------------------ TOTAL RIGHTS/WARRANTS 252,082 0.0% -------------------- ------------------ TEMPORARY CASH INVESTMENTS -- (0.6%) State Street Institutional Liquid Reserves, 0.077% 94,206,014 94,206,014 0.7% -------------------- ------------------ SECURITIES LENDING COLLATERAL -- (10.8%) (S)@ DFA Short Term Investment Fund 135,602,661 1,568,922,783 12.1% -------------------- ------------------ TOTAL INVESTMENTS -- (100.0%) (Cost $10,169,853,055) $ 14,526,889,596 112.4% ==================== ================== U.S. CORE EQUITY 2 PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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 $ 1,840,389,658 -- -- $ 1,840,389,658 Consumer Staples 784,987,280 -- -- 784,987,280 Energy 1,431,363,785 -- -- 1,431,363,785 Financials 2,186,774,436 $ 16,251 -- 2,186,790,687 Health Care 1,403,030,086 138,275 -- 1,403,168,361 Industrials 1,850,070,433 643 -- 1,850,071,076 Information Technology 2,064,735,256 -- -- 2,064,735,256 Materials 678,123,307 -- -- 678,123,307 Other -- -- -- -- Real Estate Investment Trusts 593,324 -- -- 593,324 Telecommunication Services 363,727,540 -- -- 363,727,540 Utilities 259,558,443 -- -- 259,558,443 Preferred Stocks Other -- -- -- -- Rights/Warrants -- 252,082 -- 252,082 Temporary Cash Investments 94,206,014 -- -- 94,206,014 Securities Lending Collateral -- 1,568,922,783 -- 1,568,922,783 --------------------- -------------------- -------------------- ---------------------- TOTAL $ 12,957,559,562 $ 1,569,330,034 -- $ 14,526,889,596 ===================== ==================== ==================== ====================== U.S. VECTOR EQUITY PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2014 PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- COMMON STOCKS -- (86.5%) Consumer Discretionary -- (12.1%) * 1-800-Flowers.com, Inc. Class A 33,345 $ 267,760 0.0% Aaron's, Inc. 90,559 2,242,241 0.1% # Abercrombie & Fitch Co. Class A 49,916 1,671,188 0.1% Advance Auto Parts, Inc. 5,300 778,888 0.0% #* Aeropostale, Inc. 25,947 78,100 0.0% * AG&E Holdings, Inc. 5,523 6,241 0.0% # AH Belo Corp. Class A 23,043 265,225 0.0% * Ambassadors Group, Inc. 17,553 62,313 0.0% #* AMC Networks, Inc. Class A 5,402 327,631 0.0% AMCON Distributing Co. 438 35,907 0.0% #* America's Car-Mart, Inc. 13,372 614,845 0.0% * American Axle & Manufacturing Holdings, Inc. 22,062 426,458 0.0% # American Eagle Outfitters, Inc. 85,550 1,101,029 0.0% #* American Public Education, Inc. 12,833 397,695 0.0% * ANN, Inc. 58,405 2,242,168 0.1% * Apollo Education Group, Inc. Class A 38,160 1,093,666 0.0% Arctic Cat, Inc. 12,690 427,145 0.0% Ark Restaurants Corp. 3,403 75,002 0.0% * Asbury Automotive Group, Inc. 29,653 2,076,896 0.1% * Ascena Retail Group, Inc. 74,986 933,576 0.0% #* Ascent Capital Group, Inc. Class A 13,941 896,406 0.0% # Autoliv, Inc. 6,967 639,153 0.0% #* AutoNation, Inc. 24,334 1,393,365 0.1% * Ballantyne Strong, Inc. 13,009 58,410 0.0% * Bally Technologies, Inc. 16,084 1,293,154 0.0% #* Barnes & Noble, Inc. 114,435 2,496,972 0.1% Bassett Furniture Industries, Inc. 10,687 185,740 0.0% # Beasley Broadcasting Group, Inc. Class A 6,377 29,972 0.0% #* Beazer Homes USA, Inc. 16,707 299,557 0.0% # bebe stores, Inc. 87,536 200,457 0.0% * Bed Bath & Beyond, Inc. 22,913 1,542,961 0.1% * Belmond, Ltd. Class A 115,921 1,328,455 0.1% Best Buy Co., Inc. 52,445 1,790,472 0.1% # Big 5 Sporting Goods Corp. 26,198 322,497 0.0% Big Lots, Inc. 51,526 2,352,162 0.1% * Biglari Holdings, Inc. 2,584 902,229 0.0% * BJ's Restaurants, Inc. 35,760 1,574,155 0.1% * Bloomin' Brands, Inc. 37,069 700,975 0.0% #* Blue Nile, Inc. 3,598 127,729 0.0% # Blyth, Inc. 16,340 137,093 0.0% # Bob Evans Farms, Inc. 33,622 1,642,435 0.1% # Bon-Ton Stores, Inc. (The) 16,943 149,268 0.0% * Books-A-Million, Inc. 13,630 19,764 0.0% BorgWarner, Inc. 17,273 984,906 0.0% Bowl America, Inc. Class A 2,839 41,166 0.0% #* Boyd Gaming Corp. 88,809 1,025,744 0.0% * Bravo Brio Restaurant Group, Inc. 19,657 272,643 0.0% #* Bridgepoint Education, Inc. 32,150 406,376 0.0% * Bright Horizons Family Solutions, Inc. 4,661 207,694 0.0% Brinker International, Inc. 15,655 839,734 0.0% Brown Shoe Co., Inc. 53,427 1,420,624 0.1% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) Brunswick Corp. 42,655 $ 1,996,254 0.1% # Buckle, Inc. (The) 9,525 469,868 0.0% #* Buffalo Wild Wings, Inc. 12,173 1,817,185 0.1% * Build-A-Bear Workshop, Inc. 18,741 317,660 0.0% #* Cabela's, Inc. 57,032 2,738,677 0.1% # Cablevision Systems Corp. Class A 16,209 301,812 0.0% #* Cache, Inc. 17,203 9,720 0.0% #* Caesars Entertainment Corp. 7,857 95,777 0.0% # Callaway Golf Co. 109,117 855,477 0.0% * Cambium Learning Group, Inc. 42,184 64,542 0.0% * Canterbury Park Holding Corp. 4,963 47,397 0.0% Capella Education Co. 15,632 1,105,808 0.0% #* Career Education Corp. 104,403 605,537 0.0% #* CarMax, Inc. 26,062 1,457,126 0.1% * Carmike Cinemas, Inc. 27,478 880,670 0.0% Carnival Corp. 42,874 1,721,391 0.1% # Carriage Services, Inc. 20,707 413,312 0.0% #* Carrols Restaurant Group, Inc. 27,234 209,974 0.0% Carter's, Inc. 18,771 1,466,578 0.1% Cato Corp. (The) Class A 27,535 982,173 0.0% * Cavco Industries, Inc. 9,858 718,352 0.0% CBS Corp. Class A 5,310 288,280 0.0% CBS Corp. Class B 39,368 2,134,533 0.1% #* Central European Media Enterprises, Ltd. Class A 32,474 78,912 0.0% #* Charles & Colvard, Ltd. 21,647 62,993 0.0% * Charter Communications, Inc. Class A 317 50,210 0.0% # Cheesecake Factory, Inc. (The) 59,287 2,723,645 0.1% Cherokee, Inc. 3,009 52,597 0.0% Chico's FAS, Inc. 157,521 2,375,417 0.1% # Children's Place, Inc. (The) 25,851 1,273,162 0.0% * Chipotle Mexican Grill, Inc. 3,000 1,914,000 0.1% # Choice Hotels International, Inc. 8,184 437,844 0.0% * Christopher & Banks Corp. 33,498 218,742 0.0% Churchill Downs, Inc. 18,230 1,859,095 0.1% #* Chuy's Holdings, Inc. 3,103 92,811 0.0% #* Cinedigm Corp. 29,141 45,169 0.0% Cinemark Holdings, Inc. 48,992 1,730,397 0.1% * Citi Trends, Inc. 19,462 440,814 0.0% Clear Channel Outdoor Holdings, Inc. Class A 32,196 233,743 0.0% ClubCorp Holdings, Inc. 3,381 64,442 0.0% * Coast Distribution System, Inc. (The) 1,632 5,051 0.0% Collectors Universe, Inc. 4,583 112,742 0.0% # Columbia Sportswear Co. 55,820 2,151,303 0.1% Comcast Corp. Class A 376,209 20,823,168 0.6% Comcast Corp. Special Class A 83,059 4,579,873 0.1% #* Conn's, Inc. 35,937 1,118,000 0.0% Cooper Tire & Rubber Co. 80,122 2,580,730 0.1% * Cooper-Standard Holding, Inc. 511 27,890 0.0% Core-Mark Holding Co., Inc. 25,326 1,469,668 0.1% # Cracker Barrel Old Country Store, Inc. 17,139 1,976,984 0.1% #* Crocs, Inc. 85,576 999,528 0.0% #* Crown Media Holdings, Inc. Class A 24,897 86,891 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) # CSS Industries, Inc. 4,800 $ 137,088 0.0% CST Brands, Inc. 83,186 3,181,864 0.1% Culp, Inc. 12,017 227,962 0.0% #* Cumulus Media, Inc. Class A 94,582 365,087 0.0% Dana Holding Corp. 96,609 1,976,620 0.1% # Darden Restaurants, Inc. 25,521 1,321,477 0.1% #* Deckers Outdoor Corp. 9,729 850,898 0.0% #* Del Frisco's Restaurant Group, Inc. 22,592 524,586 0.0% * Delta Apparel, Inc. 11,681 122,651 0.0% Destination Maternity Corp. 13,230 198,185 0.0% #* Destination XL Group, Inc. 61,304 321,233 0.0% DeVry Education Group, Inc. 69,835 3,380,712 0.1% * DGSE Cos., Inc. 3,503 4,028 0.0% Dick's Sporting Goods, Inc. 8,194 371,762 0.0% # Dillard's, Inc. Class A 46,706 4,939,627 0.2% DineEquity, Inc. 24,482 2,177,919 0.1% * DIRECTV 22,304 1,935,764 0.1% * Discovery Communications, Inc. 14,257 498,852 0.0% * Discovery Communications, Inc. Class A 5,091 179,967 0.0% * Discovery Communications, Inc. Class B 1,000 37,740 0.0% #* Dixie Group, Inc. (The) 9,314 73,394 0.0% * Dollar General Corp. 16,141 1,011,556 0.0% * Dollar Tree, Inc. 13,600 823,752 0.0% Domino's Pizza, Inc. 11,300 1,003,327 0.0% #* Dorman Products, Inc. 32,268 1,495,944 0.1% * Dover Downs Gaming & Entertainment, Inc. 15,417 11,563 0.0% DR Horton, Inc. 53,784 1,225,737 0.0% #* DreamWorks Animation SKG, Inc. Class A 73,137 1,629,492 0.1% Drew Industries, Inc. 23,294 1,119,510 0.0% DSW, Inc. Class A 23,317 691,349 0.0% # Dunkin' Brands Group, Inc. 2,733 124,297 0.0% #* Education Management Corp. 37,118 22,089 0.0% Educational Development Corp. 3,287 14,364 0.0% Einstein Noah Restaurant Group, Inc. 21,405 433,451 0.0% * Eldorado Resorts, Inc. 18,795 77,435 0.0% Emerson Radio Corp. 22,180 25,285 0.0% * Emmis Communications Corp. Class A 5,300 11,554 0.0% #* Empire Resorts, Inc. 3,284 24,597 0.0% #* Entercom Communications Corp. Class A 35,699 366,986 0.0% Entravision Communications Corp. Class A 51,728 266,916 0.0% # Escalade, Inc. 12,512 143,137 0.0% # Ethan Allen Interiors, Inc. 35,740 1,011,442 0.0% #* EW Scripps Co. (The) Class A 51,043 980,026 0.0% Expedia, Inc. 14,450 1,227,817 0.0% * Express, Inc. 8,782 131,467 0.0% Family Dollar Stores, Inc. 8,607 673,842 0.0% #* Famous Dave's Of America, Inc. 6,706 174,825 0.0% #* Federal-Mogul Holdings Corp. 74,484 1,162,695 0.0% #* Fiesta Restaurant Group, Inc. 12,924 712,759 0.0% Finish Line, Inc. (The) Class A 64,050 1,695,404 0.1% #* Five Below, Inc. 15,817 630,624 0.0% * Flanigan's Enterprises, Inc. 300 6,000 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) Flexsteel Industries, Inc. 8,943 $ 306,834 0.0% Foot Locker, Inc. 105,891 5,930,955 0.2% Ford Motor Co. 366,000 5,156,940 0.2% * Fossil Group, Inc. 12,801 1,301,350 0.1% # Fred's, Inc. Class A 41,518 651,833 0.0% Frisch's Restaurants, Inc. 5,689 146,094 0.0% #* FTD Cos., Inc. 25,421 894,311 0.0% #* Fuel Systems Solutions, Inc. 25,189 232,494 0.0% #* Full House Resorts, Inc. 15,960 20,588 0.0% #* G-III Apparel Group, Ltd. 19,582 1,553,832 0.1% * Gaiam, Inc. Class A 17,607 133,285 0.0% # GameStop Corp. Class A 124,160 5,309,082 0.2% * Gaming Partners International Corp. 9,358 78,514 0.0% Gannett Co., Inc. 166,926 5,258,169 0.2% # Gap, Inc. (The) 23,608 894,507 0.0% # Garmin, Ltd. 10,038 556,908 0.0% #* Geeknet, Inc. 1,892 18,333 0.0% General Motors Co. 210,392 6,606,309 0.2% #* Genesco, Inc. 27,196 2,085,661 0.1% # Gentex Corp. 15,476 506,684 0.0% * Gentherm, Inc. 32,496 1,355,083 0.1% Genuine Parts Co. 10,032 973,907 0.0% GNC Holdings, Inc. Class A 3,983 165,573 0.0% Goodyear Tire & Rubber Co. (The) 21,200 513,676 0.0% #* Gordmans Stores, Inc. 4,385 13,813 0.0% Graham Holdings Co. Class B 6,442 5,047,951 0.2% * Grand Canyon Education, Inc. 25,362 1,214,840 0.0% #* Gray Television, Inc. 61,266 566,098 0.0% * Gray Television, Inc. Class A 2,300 17,020 0.0% # Group 1 Automotive, Inc. 38,905 3,323,654 0.1% Guess?, Inc. 78,037 1,730,080 0.1% H&R Block, Inc. 12,252 395,862 0.0% Hanesbrands, Inc. 7,900 834,319 0.0% Harley-Davidson, Inc. 25,800 1,695,060 0.1% Harman International Industries, Inc. 7,895 847,449 0.0% Harte-Hanks, Inc. 71,062 462,614 0.0% # Hasbro, Inc. 9,200 529,276 0.0% Haverty Furniture Cos., Inc. 24,284 534,491 0.0% Haverty Furniture Cos., Inc. Class A 1,796 39,476 0.0% * Helen of Troy, Ltd. 36,024 2,228,084 0.1% #* hhgregg, Inc. 34,055 176,405 0.0% #* Hibbett Sports, Inc. 10,010 454,354 0.0% * Hollywood Media Corp. 11,210 12,443 0.0% Home Depot, Inc. (The) 14,454 1,409,554 0.1% # Hooker Furniture Corp. 11,611 177,532 0.0% # HSN, Inc. 9,953 657,595 0.0% * Hyatt Hotels Corp. Class A 6,444 381,614 0.0% #* Iconix Brand Group, Inc. 78,132 3,126,061 0.1% International Game Technology 1,600 26,224 0.0% International Speedway Corp. Class A 41,433 1,298,096 0.0% Interpublic Group of Cos., Inc. (The) 44,149 856,049 0.0% # Interval Leisure Group, Inc. 27,192 572,120 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) #* iRobot Corp. 11,711 $ 418,317 0.0% * Isle of Capri Casinos, Inc. 40,351 299,808 0.0% #* ITT Educational Services, Inc. 2,258 22,828 0.0% Jack in the Box, Inc. 30,578 2,172,261 0.1% * Jaclyn, Inc. 400 1,930 0.0% #* JAKKS Pacific, Inc. 5,955 37,993 0.0% #* Jamba, Inc. 11,874 158,518 0.0% * Jarden Corp. 25,961 1,689,801 0.1% #* JC Penney Co., Inc. 237,522 1,807,542 0.1% John Wiley & Sons, Inc. Class A 13,616 795,038 0.0% John Wiley & Sons, Inc. Class B 2,087 121,735 0.0% Johnson Controls, Inc. 67,306 3,180,208 0.1% Johnson Outdoors, Inc. Class A 14,083 423,194 0.0% * Journal Communications, Inc. Class A 51,347 503,714 0.0% * K12, Inc. 38,275 474,610 0.0% * Kate Spade & Co. 9,775 265,196 0.0% # KB Home 74,081 1,166,035 0.0% #* Kirkland's, Inc. 24,589 437,684 0.0% Kohl's Corp. 41,214 2,234,623 0.1% * Kona Grill, Inc. 8,088 182,223 0.0% Koss Corp. 4,404 6,254 0.0% #* Krispy Kreme Doughnuts, Inc. 32,305 611,211 0.0% L Brands, Inc. 6,200 447,144 0.0% La-Z-Boy, Inc. 53,633 1,226,050 0.0% #* Lakeland Industries, Inc. 5,597 78,918 0.0% # Lamar Advertising Co. Class A 10,244 529,103 0.0% #* Lands' End, Inc. 12,242 581,128 0.0% Las Vegas Sands Corp. 19,359 1,205,291 0.0% * LeapFrog Enterprises, Inc. 77,572 412,683 0.0% Lear Corp. 7,593 702,353 0.0% * Learning Tree International, Inc. 10,875 26,970 0.0% # Leggett & Platt, Inc. 30,328 1,194,317 0.0% # Lennar Corp. Class A 19,087 822,268 0.0% Lennar Corp. Class B 14,840 521,032 0.0% * Libbey, Inc. 42,776 1,229,810 0.0% #* Liberty Global P.L.C. Class A 716 32,557 0.0% * Liberty Global P.L.C. Class B 104 4,796 0.0% * Liberty Global P.L.C. Class C 41,874 1,862,137 0.1% * Liberty Interactive Corp. Class A 86,201 2,253,294 0.1% * Liberty Interactive Corp. Class B 4,371 115,766 0.0% * Liberty Media Corp. 73,768 3,535,700 0.1% * Liberty Media Corp. Class A 35,948 1,726,223 0.1% * Liberty Media Corp. Class B 936 43,833 0.0% * Liberty Tax, Inc. 3,149 119,316 0.0% * Liberty TripAdvisor Holdings, Inc. Class A 34,616 1,093,173 0.0% * Liberty TripAdvisor Holdings, Inc. Class B 436 15,033 0.0% * Liberty Ventures Series A 65,044 2,283,044 0.1% * Liberty Ventures Series B 1,057 36,677 0.0% #* Life Time Fitness, Inc. 54,132 3,018,942 0.1% # Lifetime Brands, Inc. 15,663 267,994 0.0% * LIN Media LLC Class A 4,107 98,281 0.0% # Lincoln Educational Services Corp. 21,067 55,828 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) Lions Gate Entertainment Corp. 1,858 $ 61,556 0.0% Lithia Motors, Inc. Class A 23,504 1,824,380 0.1% * Live Nation Entertainment, Inc. 208,833 5,429,658 0.2% * LKQ Corp. 56,098 1,602,720 0.1% * Loral Space & Communications, Inc. 11,008 842,112 0.0% Lowe's Cos., Inc. 66,542 3,806,202 0.1% * Luby's, Inc. 28,310 141,267 0.0% #* Lumber Liquidators Holdings, Inc. 5,098 274,119 0.0% #* M/I Homes, Inc. 36,549 787,265 0.0% Macy's, Inc. 32,080 1,854,866 0.1% * Madison Square Garden Co. (The) Class A 43,717 3,312,000 0.1% Marcus Corp. (The) 21,011 359,918 0.0% Marine Products Corp. 28,784 242,937 0.0% * MarineMax, Inc. 31,483 603,529 0.0% Marriott Vacations Worldwide Corp. 40,570 2,817,181 0.1% #* Martha Stewart Living Omnimedia, Inc. Class A 40,187 174,010 0.0% Mattel, Inc. 19,217 597,072 0.0% * McClatchy Co. (The) Class A 80,775 287,559 0.0% McDonald's Corp. 2,590 242,761 0.0% # MDC Holdings, Inc. 94,451 2,306,493 0.1% #* Media General, Inc. Class A 21,300 318,222 0.0% Men's Wearhouse, Inc. (The) 55,918 2,629,824 0.1% # Meredith Corp. 43,191 2,251,979 0.1% #* Meritage Homes Corp. 60,724 2,234,036 0.1% * MGM Resorts International 263,388 6,123,771 0.2% * Modine Manufacturing Co. 71,998 923,734 0.0% * Mohawk Industries, Inc. 12,479 1,772,517 0.1% * Monarch Casino & Resort, Inc. 18,597 302,573 0.0% # Monro Muffler Brake, Inc. 20,712 1,106,849 0.0% Morningstar, Inc. 3,175 216,694 0.0% * Motorcar Parts of America, Inc. 17,887 519,438 0.0% Movado Group, Inc. 21,143 746,348 0.0% * Multimedia Games Holding Co., Inc. 19,081 665,927 0.0% * Murphy USA, Inc. 42,877 2,456,852 0.1% NACCO Industries, Inc. Class A 8,639 505,986 0.0% #* Nathan's Famous, Inc. 5,206 374,207 0.0% National American University Holdings, Inc. 579 1,812 0.0% National CineMedia, Inc. 22,365 355,604 0.0% * Nautilus, Inc. 32,587 436,014 0.0% #* Nevada Gold & Casinos, Inc. 1,000 1,190 0.0% * New York & Co., Inc. 62,415 204,097 0.0% # New York Times Co. (The) Class A 137,173 1,761,301 0.1% Newell Rubbermaid, Inc. 18,588 619,538 0.0% * News Corp. Class A 149,836 2,319,461 0.1% #* News Corp. Class B 7,250 109,113 0.0% # Nexstar Broadcasting Group, Inc. Class A 10,575 477,144 0.0% NIKE, Inc. Class B 2,400 223,128 0.0% * Nobility Homes, Inc. 2,463 27,031 0.0% Nordstrom, Inc. 700 50,827 0.0% Nutrisystem, Inc. 22,945 386,394 0.0% * NVR, Inc. 1,000 1,227,580 0.0% * O'Reilly Automotive, Inc. 18,013 3,168,126 0.1% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) #* Office Depot, Inc. 878,560 $ 4,586,083 0.1% Omnicom Group, Inc. 4,644 333,718 0.0% * Orbitz Worldwide, Inc. 64,472 533,183 0.0% #* Outerwall, Inc. 13,260 838,960 0.0% #* Overstock.com, Inc. 8,272 191,249 0.0% Oxford Industries, Inc. 15,537 951,641 0.0% * P&F Industries, Inc. Class A 2,014 16,092 0.0% #* Pacific Sunwear of California, Inc. 60,704 92,270 0.0% #* Panera Bread Co. Class A 5,200 840,528 0.0% # Papa John's International, Inc. 21,076 985,514 0.0% * Penn National Gaming, Inc. 122,140 1,598,813 0.1% Penske Automotive Group, Inc. 78,768 3,563,464 0.1% * Pep Boys-Manny, Moe & Jack (The) 59,363 565,729 0.0% * Perfumania Holdings, Inc. 3,665 22,540 0.0% #* Perry Ellis International, Inc. 17,492 357,711 0.0% # PetMed Express, Inc. 19,102 252,337 0.0% PetSmart, Inc. 13,036 943,155 0.0% # Pier 1 Imports, Inc. 68,065 878,039 0.0% #* Pinnacle Entertainment, Inc. 52,422 1,343,576 0.1% # Polaris Industries, Inc. 9,939 1,499,398 0.1% Pool Corp. 14,058 839,263 0.0% * Popeyes Louisiana Kitchen, Inc. 9,550 442,643 0.0% * Priceline Group, Inc. (The) 1,900 2,291,799 0.1% PulteGroup, Inc. 170,372 3,269,439 0.1% PVH Corp. 9,464 1,082,208 0.0% * QEP Co., Inc. 1,500 26,318 0.0% #* Quiksilver, Inc. 178,954 313,170 0.0% #* Radio One, Inc. Class D 39,577 98,547 0.0% #* RadioShack Corp. 89,952 82,756 0.0% Ralph Lauren Corp. 3,292 542,653 0.0% * RCI Hospitality Holdings, Inc. 12,476 148,464 0.0% #* Reading International, Inc. Class A 11,759 117,237 0.0% * Red Lion Hotels Corp. 20,441 115,900 0.0% #* Red Robin Gourmet Burgers, Inc. 16,700 917,999 0.0% # Regal Entertainment Group Class A 16,249 359,915 0.0% Regis Corp. 66,496 1,129,102 0.0% # Remy International, Inc. 1,911 35,315 0.0% # Rent-A-Center, Inc. 63,940 1,980,222 0.1% #* Rentrak Corp. 4,395 337,844 0.0% #* Restoration Hardware Holdings, Inc. 624 50,120 0.0% Rocky Brands, Inc. 7,186 94,424 0.0% Ross Stores, Inc. 11,816 953,788 0.0% Royal Caribbean Cruises, Ltd. 124,720 8,477,218 0.3% #* Ruby Tuesday, Inc. 69,513 533,860 0.0% Ruth's Hospitality Group, Inc. 50,925 619,757 0.0% # Ryland Group, Inc. (The) 42,610 1,525,864 0.1% # Salem Communications Corp. Class A 22,144 170,730 0.0% * Sally Beauty Holdings, Inc. 17,750 520,253 0.0% # Scholastic Corp. 26,776 932,073 0.0% #* Scientific Games Corp. Class A 87,041 1,024,473 0.0% # Scripps Networks Interactive, Inc. Class A 5,300 409,372 0.0% #* Sears Holdings Corp. 37,878 1,322,700 0.1% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) SeaWorld Entertainment, Inc. 14,392 $ 276,902 0.0% #* Select Comfort Corp. 36,144 928,539 0.0% Service Corp. International 200,775 4,390,949 0.1% * Shiloh Industries, Inc. 20,431 348,144 0.0% Shoe Carnival, Inc. 23,096 424,966 0.0% * Shutterfly, Inc. 29,705 1,242,560 0.0% Signet Jewelers, Ltd. 14,628 1,755,506 0.1% # Sinclair Broadcast Group, Inc. Class A 30,200 877,310 0.0% #* Sirius XM Holdings, Inc. 124,278 426,274 0.0% # Six Flags Entertainment Corp. 23,098 930,849 0.0% #* Sizmek, Inc. 31,401 179,928 0.0% * Skechers U.S.A., Inc. Class A 43,294 2,370,346 0.1% * Skullcandy, Inc. 26,165 218,216 0.0% * Skyline Corp. 8,700 31,842 0.0% # Sonic Automotive, Inc. Class A 54,675 1,360,861 0.1% #* Sonic Corp. 28,283 713,014 0.0% # Sotheby's 27,528 1,091,760 0.0% * Spanish Broadcasting System, Inc. Class A 1,489 6,001 0.0% Spartan Motors, Inc. 36,992 210,484 0.0% # Speedway Motorsports, Inc. 47,584 931,219 0.0% Stage Stores, Inc. 52,572 886,890 0.0% # Standard Motor Products, Inc. 27,788 1,098,182 0.0% #* Standard Pacific Corp. 208,244 1,541,006 0.1% * Stanley Furniture Co., Inc. 13,731 39,820 0.0% # Staples, Inc. 326,863 4,144,623 0.1% Starwood Hotels & Resorts Worldwide, Inc. 12,073 925,516 0.0% * Starz 24,948 770,893 0.0% * Starz Class B 936 28,880 0.0% Stein Mart, Inc. 50,401 674,365 0.0% * Steiner Leisure, Ltd. 11,331 477,942 0.0% #* Steven Madden, Ltd. 57,632 1,806,763 0.1% * Stoneridge, Inc. 40,969 532,187 0.0% Strattec Security Corp. 4,591 476,179 0.0% * Strayer Education, Inc. 7,069 517,380 0.0% # Sturm Ruger & Co., Inc. 16,895 704,184 0.0% # Superior Industries International, Inc. 29,581 577,125 0.0% # Superior Uniform Group, Inc. 9,577 229,848 0.0% Sypris Solutions, Inc. 17,625 60,101 0.0% #* Systemax, Inc. 34,554 528,676 0.0% # Tandy Leather Factory, Inc. 6,870 63,479 0.0% Target Corp. 52,314 3,234,051 0.1% * Taylor Morrison Home Corp. Class A 7,554 130,231 0.0% * Tempur Sealy International, Inc. 7,978 419,962 0.0% * Tenneco, Inc. 11,900 623,084 0.0% #* Tesla Motors, Inc. 402 97,163 0.0% # Texas Roadhouse, Inc. 69,524 2,007,158 0.1% # Thor Industries, Inc. 36,711 1,941,645 0.1% Tiffany & Co. 8,300 797,796 0.0% Time Warner Cable, Inc. 29,552 4,350,350 0.1% Time Warner, Inc. 97,900 7,780,113 0.2% * Time, Inc. 27,173 613,838 0.0% TJX Cos., Inc. (The) 10,244 648,650 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) * Toll Brothers, Inc. 119,344 $ 3,813,041 0.1% * Tower International, Inc. 17,192 417,766 0.0% # Town Sports International Holdings, Inc. 11,460 67,843 0.0% # Tractor Supply Co. 25,800 1,889,076 0.1% Trans World Entertainment Corp. 1,500 4,950 0.0% * TripAdvisor, Inc. 14,450 1,281,137 0.0% * TRW Automotive Holdings Corp. 14,500 1,469,575 0.1% #* Tuesday Morning Corp. 44,074 898,669 0.0% #* Tumi Holdings, Inc. 20,092 417,311 0.0% Tupperware Brands Corp. 5,800 369,750 0.0% Twenty-First Century Fox, Inc. Class A 85,500 2,948,040 0.1% Twenty-First Century Fox, Inc. Class B 23,700 786,129 0.0% * Ulta Salon Cosmetics & Fragrance, Inc. 13,373 1,615,592 0.1% #* Under Armour, Inc. Class A 11,332 743,153 0.0% * Unifi, Inc. 20,364 569,581 0.0% #* Universal Electronics, Inc. 18,037 1,026,125 0.0% Universal Technical Institute, Inc. 22,884 272,548 0.0% #* UQM Technologies, Inc. 24,036 26,680 0.0% * Urban Outfitters, Inc. 19,147 581,303 0.0% * US Auto Parts Network, Inc. 26,854 72,506 0.0% Vail Resorts, Inc. 37,166 3,209,656 0.1% Value Line, Inc. 3,839 61,232 0.0% #* Valuevision Media, Inc. Class A 44,612 252,504 0.0% VF Corp. 13,052 883,359 0.0% Viacom, Inc. Class A 1,129 82,485 0.0% Viacom, Inc. Class B 15,300 1,112,004 0.0% * Visteon Corp. 17,685 1,660,622 0.1% #* Vitamin Shoppe, Inc. 28,185 1,322,722 0.1% #* VOXX International Corp. 21,635 184,547 0.0% Walking Co. Holdings, Inc. (The) 272 2,006 0.0% Walt Disney Co. (The) 118,253 10,805,959 0.3% # Weight Watchers International, Inc. 6,975 181,699 0.0% Wendy's Co. (The) 432,368 3,467,591 0.1% * West Marine, Inc. 26,719 262,915 0.0% # Weyco Group, Inc. 9,446 294,243 0.0% Whirlpool Corp. 18,667 3,211,657 0.1% * William Lyon Homes Class A 3,447 81,556 0.0% # Williams-Sonoma, Inc. 10,506 683,205 0.0% # Winmark Corp. 3,672 302,132 0.0% #* Winnebago Industries, Inc. 36,586 775,989 0.0% # Wolverine World Wide, Inc. 52,060 1,412,908 0.1% # World Wrestling Entertainment, Inc. Class A 8,025 99,109 0.0% Wyndham Worldwide Corp. 32,378 2,514,799 0.1% Wynn Resorts, Ltd. 2,100 399,021 0.0% * Zagg, Inc. 33,843 227,425 0.0% #* Zumiez, Inc. 35,468 1,183,922 0.0% -------------------- ------------------ Total Consumer Discretionary 488,910,404 14.0% -------------------- ------------------ Consumer Staples -- (3.8%) # Alico, Inc. 7,844 289,444 0.0% * Alliance One International, Inc. 93,600 190,008 0.0% Altria Group, Inc. 13,203 638,233 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Staples -- (Continued) Andersons, Inc. (The) 31,248 $ 1,991,435 0.1% Archer-Daniels-Midland Co. 89,777 4,219,519 0.1% # B&G Foods, Inc. 46,662 1,374,663 0.1% #* Boston Beer Co., Inc. (The) Class A 2,981 742,269 0.0% #* Boulder Brands, Inc. 66,282 588,584 0.0% * Bridgford Foods Corp. 3,414 28,661 0.0% Brown-Forman Corp. Class A 3,808 346,109 0.0% Brown-Forman Corp. Class B 2,461 228,061 0.0% Bunge, Ltd. 73,213 6,490,332 0.2% # Cal-Maine Foods, Inc. 22,224 1,951,045 0.1% # Calavo Growers, Inc. 11,354 551,123 0.0% # Casey's General Stores, Inc. 31,410 2,571,537 0.1% * CCA Industries, Inc. 4,700 15,980 0.0% * Central Garden and Pet Co. 20,939 167,093 0.0% * Central Garden and Pet Co. Class A 47,083 404,443 0.0% * Chiquita Brands International, Inc. 66,569 960,591 0.0% Church & Dwight Co., Inc. 10,015 725,186 0.0% Coca-Cola Bottling Co. Consolidated 10,112 914,529 0.0% Coca-Cola Enterprises, Inc. 31,967 1,385,769 0.1% #* Coffee Holding Co., Inc. 1,900 10,868 0.0% ConAgra Foods, Inc. 33,618 1,154,778 0.0% * Constellation Brands, Inc. Class A 35,491 3,248,846 0.1% * Constellation Brands, Inc. Class B 1,325 121,026 0.0% Costco Wholesale Corp. 12,989 1,732,343 0.1% #* Craft Brew Alliance, Inc. 20,966 291,008 0.0% #* Crimson Wine Group, Ltd. 10,667 97,070 0.0% CVS Health Corp. 113,204 9,714,035 0.3% #* Darling International, Inc. 122,733 2,160,101 0.1% # Dean Foods Co. 103,137 1,517,145 0.1% #* Diamond Foods, Inc. 16,839 507,696 0.0% Dr Pepper Snapple Group, Inc. 12,552 869,226 0.0% Energizer Holdings, Inc. 6,756 828,623 0.0% * Farmer Bros. Co. 17,723 516,803 0.0% # Flowers Foods, Inc. 36,564 694,716 0.0% # Fresh Del Monte Produce, Inc. 80,990 2,600,589 0.1% #* Fresh Market, Inc. (The) 3,144 115,416 0.0% General Mills, Inc. 16,200 841,752 0.0% Golden Enterprises, Inc. 5,537 24,750 0.0% * Hain Celestial Group, Inc. (The) 14,836 1,605,997 0.1% # Herbalife, Ltd. 7,400 388,204 0.0% Hormel Foods Corp. 18,128 977,280 0.0% * IGI Laboratories, Inc. 1,128 11,066 0.0% # Ingles Markets, Inc. Class A 18,862 507,388 0.0% # Ingredion, Inc. 39,031 3,015,145 0.1% Inter Parfums, Inc. 31,754 901,814 0.0% * Inventure Foods, Inc. 771 10,208 0.0% J&J Snack Foods Corp. 14,421 1,485,796 0.1% JM Smucker Co. (The) 20,682 2,150,928 0.1% John B. Sanfilippo & Son, Inc. 8,641 321,013 0.0% # Keurig Green Mountain, Inc. 9,300 1,411,275 0.1% Kraft Foods Group, Inc. 39,110 2,203,848 0.1% Kroger Co. (The) 17,415 970,190 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Staples -- (Continued) Lancaster Colony Corp. 14,212 $ 1,300,256 0.0% #* Lifeway Foods, Inc. 4,839 80,085 0.0% # Limoneira Co. 2,064 52,962 0.0% * Mannatech, Inc. 2,569 37,430 0.0% McCormick & Co., Inc.(579780107) 1,064 74,799 0.0% # McCormick & Co., Inc.(579780206) 8,162 577,217 0.0% #* Medifast, Inc. 19,049 604,615 0.0% # MGP Ingredients, Inc. 17,519 216,360 0.0% Molson Coors Brewing Co. Class A 534 42,020 0.0% Molson Coors Brewing Co. Class B 86,345 6,422,341 0.2% Mondelez International, Inc. Class A 196,387 6,924,606 0.2% * Monster Beverage Corp. 2,400 242,112 0.0% * National Beverage Corp. 27,000 678,240 0.0% #* Natural Alternatives International, Inc. 4,748 29,105 0.0% # Nu Skin Enterprises, Inc. Class A 18,507 977,725 0.0% * Nutraceutical International Corp. 11,692 262,836 0.0% Oil-Dri Corp. of America 6,773 204,409 0.0% * Omega Protein Corp. 37,756 545,574 0.0% # Orchids Paper Products Co. 8,993 258,639 0.0% * Pantry, Inc. (The) 45,413 1,170,293 0.0% PepsiCo, Inc. 9,195 884,283 0.0% Philip Morris International, Inc. 36,900 3,284,469 0.1% #* Pilgrim's Pride Corp. 98,915 2,810,175 0.1% Pinnacle Foods, Inc. 23,955 809,679 0.0% #* Post Holdings, Inc. 55,953 2,098,237 0.1% # Pricesmart, Inc. 8,917 793,881 0.0% Procter & Gamble Co. (The) 105,525 9,209,167 0.3% Reliv International, Inc. 4,579 5,541 0.0% #* Revlon, Inc. Class A 13,564 465,245 0.0% Reynolds American, Inc. 11,374 715,538 0.0% * Rite Aid Corp. 87,461 459,170 0.0% Rocky Mountain Chocolate Factory, Inc. 5,450 65,891 0.0% Safeway, Inc. 51,128 1,782,322 0.1% # Sanderson Farms, Inc. 33,556 2,818,033 0.1% * Seaboard Corp. 535 1,643,985 0.1% #* Seneca Foods Corp. Class A 10,336 277,832 0.0% * Seneca Foods Corp. Class B 1,251 37,811 0.0% # Snyder's-Lance, Inc. 68,573 2,042,790 0.1% SpartanNash Co. 53,570 1,200,504 0.0% Spectrum Brands Holdings, Inc. 52,744 4,778,079 0.1% #* SUPERVALU, Inc. 88,266 761,736 0.0% #* Tofutti Brands, Inc. 799 3,987 0.0% # Tootsie Roll Industries, Inc. 22,573 669,289 0.0% * TreeHouse Foods, Inc. 33,395 2,844,252 0.1% Tyson Foods, Inc. Class A 83,262 3,359,622 0.1% #* United Natural Foods, Inc. 20,634 1,403,525 0.1% # United-Guardian, Inc. 1,872 39,050 0.0% # Universal Corp. 28,210 1,255,345 0.0% #* USANA Health Sciences, Inc. 9,355 1,066,283 0.0% # Vector Group, Ltd. 21,749 485,873 0.0% Village Super Market, Inc. Class A 7,226 200,521 0.0% Wal-Mart Stores, Inc. 102,008 7,780,150 0.2% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Staples -- (Continued) Walgreen Co. 34,175 $ 2,194,718 0.1% WD-40 Co. 7,242 555,244 0.0% Weis Markets, Inc. 25,890 1,155,730 0.0% * WhiteWave Foods Co. (The) Class A 72,636 2,704,238 0.1% Whole Foods Market, Inc. 9,338 367,264 0.0% -------------------- ------------------ Total Consumer Staples 153,512,640 4.4% -------------------- ------------------ Energy -- (9.6%) #* Abraxas Petroleum Corp. 18,724 77,330 0.0% Adams Resources & Energy, Inc. 4,701 197,677 0.0% Alon USA Energy, Inc. 96,364 1,545,679 0.1% #* Alpha Natural Resources, Inc. 255,873 501,511 0.0% Anadarko Petroleum Corp. 78,236 7,180,500 0.2% Apache Corp. 63,288 4,885,834 0.1% #* Approach Resources, Inc. 28,368 280,843 0.0% # Arch Coal, Inc. 229,682 496,113 0.0% #* Atwood Oceanics, Inc. 64,777 2,633,185 0.1% Baker Hughes, Inc. 55,395 2,933,719 0.1% * Barnwell Industries, Inc. 7,497 19,192 0.0% #* Basic Energy Services, Inc. 55,748 719,149 0.0% #* Bill Barrett Corp. 64,057 973,666 0.0% Bolt Technology Corp. 8,848 194,037 0.0% * Bonanza Creek Energy, Inc. 59,758 2,703,452 0.1% #* BPZ Resources, Inc. 129,134 160,126 0.0% # Bristow Group, Inc. 41,007 3,030,417 0.1% #* C&J Energy Services, Inc. 66,082 1,276,043 0.0% Cabot Oil & Gas Corp. 45,233 1,406,746 0.0% * Callon Petroleum Co. 73,987 485,355 0.0% * Cameron International Corp. 31,432 1,871,776 0.1% # CARBO Ceramics, Inc. 4,831 249,618 0.0% * Carrizo Oil & Gas, Inc. 55,145 2,864,231 0.1% * Cheniere Energy, Inc. 7,686 576,450 0.0% Chesapeake Energy Corp. 444,198 9,852,312 0.3% Chevron Corp. 304,598 36,536,530 1.1% Cimarex Energy Co. 40,562 4,610,683 0.1% * Clayton Williams Energy, Inc. 14,501 1,205,613 0.0% #* Clean Energy Fuels Corp. 52,155 381,253 0.0% #* Cloud Peak Energy, Inc. 78,591 940,734 0.0% * Cobalt International Energy, Inc. 10,413 121,936 0.0% # Comstock Resources, Inc. 53,195 629,829 0.0% * Concho Resources, Inc. 14,845 1,618,550 0.1% ConocoPhillips 228,045 16,453,447 0.5% CONSOL Energy, Inc. 51,642 1,900,426 0.1% #* Contango Oil & Gas Co. 23,376 854,860 0.0% * Continental Resources, Inc. 1,090 61,443 0.0% # CVR Energy, Inc. 6,324 307,220 0.0% Dawson Geophysical Co. 8,719 148,136 0.0% Delek US Holdings, Inc. 85,253 2,889,224 0.1% # Denbury Resources, Inc. 317,378 3,935,487 0.1% Devon Energy Corp. 60,023 3,601,380 0.1% DHT Holdings, Inc. 10,435 69,497 0.0% # Diamond Offshore Drilling, Inc. 68,075 2,567,108 0.1% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Energy -- (Continued) * Diamondback Energy, Inc. 3,915 $ 267,943 0.0% * Dresser-Rand Group, Inc. 10,800 882,360 0.0% * Dril-Quip, Inc. 7,700 692,615 0.0% #* Emerald Oil, Inc. 67,295 213,998 0.0% Energen Corp. 6,952 470,650 0.0% # Energy XXI Bermuda, Ltd. 58,477 449,688 0.0% * ENGlobal Corp. 25,261 33,092 0.0% EnLink Midstream LLC 43,109 1,633,831 0.1% EOG Resources, Inc. 52,945 5,032,422 0.2% * Era Group, Inc. 26,240 613,754 0.0% * Escalera Resources Co. 10,474 11,836 0.0% Evolution Petroleum Corp. 11,083 104,845 0.0% # Exterran Holdings, Inc. 74,370 2,924,972 0.1% Exxon Mobil Corp. 436,562 42,219,911 1.2% * FieldPoint Petroleum Corp. 3,945 11,164 0.0% * FMC Technologies, Inc. 21,103 1,182,612 0.0% * Forum Energy Technologies, Inc. 18,171 496,068 0.0% # GasLog, Ltd. 57,414 1,195,359 0.0% * Gastar Exploration, Inc. 101,670 406,680 0.0% #* Geospace Technologies Corp. 7,312 225,136 0.0% #* Green Brick Partners, Inc. 1,761 11,640 0.0% # Green Plains, Inc. 46,043 1,574,671 0.1% * Gulf Coast Ultra Deep Royalty Trust 36,391 58,226 0.0% # Gulf Island Fabrication, Inc. 16,524 349,317 0.0% # Gulfmark Offshore, Inc. Class A 31,656 954,745 0.0% * Gulfport Energy Corp. 17,322 869,218 0.0% #* Halcon Resources Corp. 58,332 181,413 0.0% Halliburton Co. 34,942 1,926,702 0.1% #* Harvest Natural Resources, Inc. 42,786 159,164 0.0% * Helix Energy Solutions Group, Inc. 155,627 4,145,903 0.1% Helmerich & Payne, Inc. 29,941 2,599,478 0.1% #* Hercules Offshore, Inc. 172,813 285,141 0.0% Hess Corp. 50,181 4,255,851 0.1% * HKN, Inc. 308 20,328 0.0% HollyFrontier Corp. 114,181 5,181,534 0.2% #* Hornbeck Offshore Services, Inc. 46,873 1,437,126 0.0% #* ION Geophysical Corp. 175,511 491,431 0.0% * Key Energy Services, Inc. 197,908 601,640 0.0% Kinder Morgan, Inc. 64,709 2,504,238 0.1% * Kodiak Oil & Gas Corp. 85,777 925,534 0.0% * Kosmos Energy, Ltd. 14,144 131,964 0.0% #* Laredo Petroleum Holdings, Inc. 41,633 789,362 0.0% # LinnCo LLC 101,050 2,422,169 0.1% Marathon Oil Corp. 194,277 6,877,406 0.2% Marathon Petroleum Corp. 38,015 3,455,564 0.1% #* Matador Resources Co. 72,206 1,752,440 0.1% * Matrix Service Co. 32,727 820,139 0.0% #* McDermott International, Inc. 154,605 593,683 0.0% * Mexco Energy Corp. 1,236 7,354 0.0% #* Miller Energy Resources, Inc. 736 2,561 0.0% * Mitcham Industries, Inc. 13,274 135,395 0.0% Murphy Oil Corp. 37,875 2,022,146 0.1% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Energy -- (Continued) Nabors Industries, Ltd. 231,625 $ 4,134,506 0.1% National Oilwell Varco, Inc. 72,627 5,275,625 0.2% * Natural Gas Services Group, Inc. 16,142 415,334 0.0% * Newfield Exploration Co. 171,182 5,582,245 0.2% #* Newpark Resources, Inc. 125,837 1,438,317 0.0% # Noble Corp. P.L.C. 138,773 2,903,131 0.1% Noble Energy, Inc. 24,666 1,421,502 0.0% #* Nordic American Offshore, Ltd. 239 3,824 0.0% # Nordic American Tankers, Ltd. 27,665 233,769 0.0% #* Northern Oil and Gas, Inc. 78,652 888,768 0.0% #* Nuverra Environmental Solutions, Inc. 18,072 171,142 0.0% #* Oasis Petroleum, Inc. 62,767 1,880,499 0.1% Occidental Petroleum Corp. 145,981 12,982,090 0.4% # Oceaneering International, Inc. 9,544 670,657 0.0% * Oil States International, Inc. 34,308 2,049,560 0.1% ONEOK, Inc. 3,014 177,645 0.0% #* Overseas Shipholding Group, Inc. 31,761 163,569 0.0% * Pacific Drilling SA 19,891 144,806 0.0% # Panhandle Oil and Gas, Inc. Class A 26,645 547,821 0.0% #* Paragon Offshore P.L.C. 46,257 225,272 0.0% * Parker Drilling Co. 144,626 642,139 0.0% Patterson-UTI Energy, Inc. 164,826 3,795,943 0.1% # PBF Energy, Inc. Class A 77,318 2,015,680 0.1% #* PDC Energy, Inc. 41,639 1,820,457 0.1% # Peabody Energy Corp. 176,843 1,844,473 0.1% #* Penn Virginia Corp. 92,192 790,085 0.0% #* PetroQuest Energy, Inc. 126,486 594,484 0.0% #* PHI, Inc. Non-Voting 16,164 723,177 0.0% * PHI, Inc. Voting 1,053 44,763 0.0% Phillips 66 55,644 4,368,054 0.1% * Pioneer Energy Services Corp. 74,145 680,651 0.0% Pioneer Natural Resources Co. 3,762 711,244 0.0% * PostRock Energy Corp. 1,100 792 0.0% QEP Resources, Inc. 218,727 5,483,486 0.2% Range Resources Corp. 10,900 745,560 0.0% #* Renewable Energy Group, Inc. 50,865 535,608 0.0% #* REX American Resources Corp. 9,639 701,334 0.0% #* Rex Energy Corp. 70,533 552,979 0.0% #* RigNet, Inc. 8,275 359,549 0.0% * Rosetta Resources, Inc. 68,128 2,590,908 0.1% Rowan Cos. P.L.C. Class A 113,077 2,744,379 0.1% #* Royale Energy, Inc. 3,000 7,860 0.0% RPC, Inc. 72,669 1,191,772 0.0% #* Sanchez Energy Corp. 8,150 139,121 0.0% #* SandRidge Energy, Inc. 394,394 1,538,137 0.1% Schlumberger, Ltd. 53,868 5,314,617 0.2% # Scorpio Tankers, Inc. 235,427 2,055,278 0.1% #* SEACOR Holdings, Inc. 30,177 2,488,094 0.1% SemGroup Corp. Class A 39,273 3,014,203 0.1% * Seventy Seven Energy, Inc. 34,108 445,792 0.0% # Ship Finance International, Ltd. 102,242 1,757,540 0.1% # SM Energy Co. 47,555 2,677,347 0.1% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Energy -- (Continued) * Southwestern Energy Co. 76,257 $ 2,479,115 0.1% Spectra Energy Corp. 1,600 62,608 0.0% * Steel Excel, Inc. 11,536 351,848 0.0% #* Stone Energy Corp. 72,494 1,776,103 0.1% Superior Energy Services, Inc. 178,906 4,499,486 0.1% #* Swift Energy Co. 45,809 313,792 0.0% #* Synergy Resources Corp. 47,655 580,914 0.0% * Synthesis Energy Systems, Inc. 44,676 46,016 0.0% Targa Resources Corp. 3,216 413,674 0.0% Teekay Corp. 29,140 1,703,524 0.1% # Tesco Corp. 57,230 1,089,659 0.0% Tesoro Corp. 131,157 9,365,921 0.3% #* TETRA Technologies, Inc. 102,620 977,969 0.0% * TGC Industries, Inc. 20,067 63,010 0.0% # Tidewater, Inc. 64,165 2,365,764 0.1% # Transocean, Ltd. 145,061 4,327,170 0.1% #* Triangle Petroleum Corp. 111,163 861,513 0.0% #* Ultra Petroleum Corp. 9,559 217,945 0.0% * Unit Corp. 63,923 3,095,152 0.1% * Uranium Energy Corp. 22,116 25,433 0.0% * Vaalco Energy, Inc. 107,587 798,296 0.0% Valero Energy Corp. 100,593 5,038,703 0.2% # W&T Offshore, Inc. 95,335 866,595 0.0% #* Warren Resources, Inc. 103,068 356,615 0.0% * Weatherford International P.L.C. 282,541 4,639,323 0.1% Western Refining, Inc. 94,206 4,294,852 0.1% #* Westmoreland Coal Co. 9,158 334,908 0.0% * Whiting Petroleum Corp. 66,700 4,084,708 0.1% * Willbros Group, Inc. 76,784 450,722 0.0% Williams Cos., Inc. (The) 21,384 1,187,026 0.0% # World Fuel Services Corp. 31,102 1,282,646 0.0% * WPX Energy, Inc. 191,578 3,662,971 0.1% * Yuma Energy, Inc. 3,478 11,825 0.0% -------------------- ------------------ Total Energy 387,872,130 11.1% -------------------- ------------------ Financials -- (20.3%) * 1st Constitution Bancorp 2,517 27,951 0.0% # 1st Source Corp. 29,512 923,430 0.0% # 1st United Bancorp, Inc. 25,437 225,117 0.0% Access National Corp. 8,706 146,696 0.0% ACE, Ltd. 40,735 4,452,335 0.1% * Affiliated Managers Group, Inc. 3,792 757,604 0.0% Aflac, Inc. 47,261 2,822,900 0.1% Alexander & Baldwin, Inc. 78,665 3,148,960 0.1% * Alleghany Corp. 7,698 3,420,067 0.1% Alliance Bancorp, Inc. of Pennsylvania 3,932 64,839 0.0% Allied World Assurance Co. Holdings AG 102,408 3,891,504 0.1% Allstate Corp. (The) 86,740 5,625,089 0.2% #* Altisource Asset Management Corp. 1,120 604,800 0.0% #* Altisource Portfolio Solutions SA 11,202 836,341 0.0% #* Ambac Financial Group, Inc. 22,805 521,778 0.0% # American Equity Investment Life Holding Co. 124,140 3,204,053 0.1% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) American Express Co. 9,290 $ 835,636 0.0% American Financial Group, Inc. 113,571 6,794,953 0.2% * American Independence Corp. 610 6,704 0.0% American International Group, Inc. 128,798 6,899,709 0.2% # American National Bankshares, Inc. 5,991 144,982 0.0% American National Insurance Co. 22,280 2,541,702 0.1% * American River Bankshares 4,649 44,166 0.0% (Degree)* American Spectrum Realty, Inc. 400 672 0.0% Ameriprise Financial, Inc. 41,603 5,249,051 0.2% Ameris Bancorp 30,352 752,730 0.0% AMERISAFE, Inc. 22,880 954,096 0.0% AmeriServ Financial, Inc. 17,822 56,139 0.0% # Amtrust Financial Services, Inc. 62,289 2,794,907 0.1% Aon P.L.C. 16,979 1,460,194 0.1% * Arch Capital Group, Ltd. 64,673 3,642,383 0.1% Argo Group International Holdings, Ltd. 34,824 1,943,179 0.1% # Arrow Financial Corp. 13,368 366,150 0.0% Arthur J Gallagher & Co. 8,866 422,908 0.0% Aspen Insurance Holdings, Ltd. 75,921 3,312,433 0.1% # Associated Banc-Corp 230,993 4,342,668 0.1% Assurant, Inc. 86,200 5,880,564 0.2% Assured Guaranty, Ltd. 185,850 4,289,418 0.1% * Asta Funding, Inc. 12,881 108,587 0.0% Astoria Financial Corp. 161,571 2,124,659 0.1% Atlantic American Corp. 5,179 19,991 0.0% #* Atlantic Coast Financial Corp. 1,357 5,591 0.0% #* Atlanticus Holdings Corp. 19,831 27,763 0.0% # Auburn National Bancorporation, Inc. 1,260 29,572 0.0% * AV Homes, Inc. 11,482 172,115 0.0% Axis Capital Holdings, Ltd. 95,920 4,617,589 0.1% Baldwin & Lyons, Inc. Class A 1,285 31,508 0.0% Baldwin & Lyons, Inc. Class B 10,961 295,070 0.0% Banc of California, Inc. 10,072 118,547 0.0% # Bancfirst Corp. 15,578 1,012,570 0.0% #* Bancorp, Inc. 40,873 386,659 0.0% BancorpSouth, Inc. 162,781 3,748,846 0.1% Bank Mutual Corp. 50,207 330,864 0.0% Bank of America Corp. 1,204,998 20,677,766 0.6% Bank of Commerce Holdings 5,615 33,971 0.0% # Bank of Hawaii Corp. 47,379 2,774,040 0.1% Bank of Kentucky Financial Corp (The) 4,629 217,146 0.0% Bank of New York Mellon Corp. (The) 128,445 4,973,390 0.2% # Bank of the Ozarks, Inc. 50,840 1,791,602 0.1% BankFinancial Corp. 23,259 277,480 0.0% BankUnited, Inc. 50,757 1,517,634 0.1% Banner Corp. 33,751 1,458,718 0.1% Bar Harbor Bankshares 5,551 161,534 0.0% BB&T Corp. 83,145 3,149,533 0.1% BBCN Bancorp, Inc. 131,778 1,863,341 0.1% #* BBX Capital Corp. Class A 6,124 112,682 0.0% BCB Bancorp, Inc. 7,110 91,648 0.0% * Bear State Financial, Inc. 5,224 46,859 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) * Beneficial Mutual Bancorp, Inc. 71,537 $ 960,742 0.0% Berkshire Bancorp, Inc. 2,025 16,959 0.0% Berkshire Hills Bancorp, Inc. 30,235 779,458 0.0% BGC Partners, Inc. Class A 267,423 2,267,747 0.1% BlackRock, Inc. 8,103 2,764,014 0.1% BNC Bancorp 214 3,640 0.0% #* BofI Holding, Inc. 15,085 1,161,847 0.0% # BOK Financial Corp. 31,291 2,145,311 0.1% Boston Private Financial Holdings, Inc. 129,369 1,701,202 0.1% # Bridge Bancorp, Inc. 4,016 105,460 0.0% #* Bridge Capital Holdings 7,047 169,974 0.0% Brookline Bancorp, Inc. 117,451 1,126,355 0.0% Brown & Brown, Inc. 69,442 2,212,422 0.1% Bryn Mawr Bank Corp. 13,673 421,539 0.0% C&F Financial Corp. 1,936 66,482 0.0% Calamos Asset Management, Inc. Class A 22,334 305,976 0.0% California First National Bancorp 6,388 96,459 0.0% # Camden National Corp. 8,426 344,708 0.0% # Cape Bancorp, Inc. 4,109 36,611 0.0% * Capital Bank Financial Corp. Class A 6,058 156,842 0.0% # Capital City Bank Group, Inc. 16,811 254,014 0.0% Capital One Financial Corp. 70,527 5,837,520 0.2% (Degree) Capital Properties, Inc., 5.000% 277 274 0.0% * Capital Properties, Inc. Class A 308 3,748 0.0% # Capital Southwest Corp. 11,172 409,566 0.0% Capitol Federal Financial, Inc. 220,219 2,821,005 0.1% # Cardinal Financial Corp. 44,880 861,696 0.0% * Carolina Bank Holdings, Inc. 1,000 9,460 0.0% #* Cascade Bancorp 29,399 150,229 0.0% # Cash America International, Inc. 44,341 2,179,360 0.1% Cathay General Bancorp 140,227 3,703,395 0.1% CBOE Holdings, Inc. 3,243 191,142 0.0% * CBRE Group, Inc. Class A 24,909 797,088 0.0% # Centerstate Banks, Inc. 35,132 408,936 0.0% Central Pacific Financial Corp. 10,275 194,198 0.0% Century Bancorp, Inc. Class A 2,971 112,839 0.0% Charles Schwab Corp. (The) 17,612 504,936 0.0% # Charter Financial Corp. 303 3,436 0.0% Chemical Financial Corp. 37,986 1,131,223 0.0% Chicopee Bancorp, Inc. 5,278 78,589 0.0% Chubb Corp. (The) 29,808 2,961,723 0.1% # Cincinnati Financial Corp. 74,978 3,784,140 0.1% CIT Group, Inc. 87,768 4,294,488 0.1% Citigroup, Inc. 374,753 20,060,528 0.6% Citizens Community Bancorp, Inc. 3,663 32,601 0.0% * Citizens First Corp. 1,000 11,500 0.0% Citizens Holding Co. 2,106 39,488 0.0% #* Citizens, Inc. 50,350 367,052 0.0% # City Holding Co. 19,563 880,139 0.0% # City National Corp. 44,594 3,509,994 0.1% CKX Lands, Inc. 1,400 22,414 0.0% # Clifton Bancorp, Inc. 27,322 355,732 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) CME Group, Inc. 38,860 $ 3,256,857 0.1% CNA Financial Corp. 54,384 2,125,327 0.1% # CNB Financial Corp. 8,460 153,211 0.0% CNO Financial Group, Inc. 264,496 4,795,312 0.1% CoBiz Financial, Inc. 46,003 552,956 0.0% Codorus Valley Bancorp, Inc. 2,125 45,947 0.0% # Cohen & Steers, Inc. 5,916 253,560 0.0% #* Colonial Financial Services, Inc. 2,714 35,255 0.0% * Colony Bankcorp, Inc. 3,099 21,693 0.0% Columbia Banking System, Inc. 79,715 2,214,483 0.1% # Comerica, Inc. 83,580 3,990,109 0.1% # Commerce Bancshares, Inc. 38,200 1,728,932 0.1% Commercial National Financial Corp. 1,413 30,026 0.0% # Community Bank System, Inc. 61,428 2,343,478 0.1% * Community Bankers Trust Corp. 1,472 6,477 0.0% # Community Trust Bancorp, Inc. 22,510 809,235 0.0% Community West Bancshares 2,000 12,900 0.0% * CommunityOne Bancorp 1 11 0.0% ConnectOne Bancorp, Inc. 18,047 333,870 0.0% # Consolidated-Tomoka Land Co. 7,627 398,053 0.0% * Consumer Portfolio Services, Inc. 13,992 98,784 0.0% #* Cowen Group, Inc. Class A 109,650 442,986 0.0% Crawford & Co. Class A 30,901 272,547 0.0% # Crawford & Co. Class B 14,955 152,242 0.0% #* Credit Acceptance Corp. 10,748 1,585,975 0.1% # Cullen/Frost Bankers, Inc. 29,396 2,375,491 0.1% #* Customers Bancorp, Inc. 5,409 103,312 0.0% # CVB Financial Corp. 105,480 1,664,474 0.1% # Diamond Hill Investment Group, Inc. 900 120,591 0.0% Dime Community Bancshares, Inc. 59,297 933,928 0.0% Discover Financial Services 22,150 1,412,727 0.1% # Donegal Group, Inc. Class A 22,291 352,644 0.0% Donegal Group, Inc. Class B 3,821 80,241 0.0% #* Doral Financial Corp. 782 4,543 0.0% * E*TRADE Financial Corp. 140,013 3,122,290 0.1% Eagle Bancorp Montana, Inc. 514 5,500 0.0% East West Bancorp, Inc. 119,880 4,406,789 0.1% * Eastern Virginia Bankshares, Inc. 3,468 21,467 0.0% Eaton Vance Corp. 4,261 156,933 0.0% #* eHealth, Inc. 15,901 396,730 0.0% EMC Insurance Group, Inc. 12,475 399,699 0.0% Employers Holdings, Inc. 41,765 851,588 0.0% #* Encore Capital Group, Inc. 29,014 1,320,427 0.0% Endurance Specialty Holdings, Ltd. 74,333 4,307,597 0.1% * Enstar Group, Ltd. 15,901 2,354,461 0.1% # Enterprise Bancorp, Inc. 5,554 130,686 0.0% Enterprise Financial Services Corp. 19,979 376,604 0.0% Erie Indemnity Co. Class A 9,747 827,228 0.0% # ESB Financial Corp. 15,721 293,354 0.0% ESSA Bancorp, Inc. 16,415 188,608 0.0% Evans Bancorp, Inc. 2,412 56,067 0.0% # EverBank Financial Corp. 19,792 379,017 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) Evercore Partners, Inc. Class A 17,587 $ 910,479 0.0% Everest Re Group, Ltd. 26,993 4,606,355 0.1% #* Ezcorp, Inc. Class A 62,875 709,230 0.0% * Farmers Capital Bank Corp. 5,719 128,334 0.0% FBL Financial Group, Inc. Class A 32,494 1,611,053 0.1% Federal Agricultural Mortgage Corp. Class A 987 24,182 0.0% Federal Agricultural Mortgage Corp. Class C 10,912 363,370 0.0% # Federated Investors, Inc. Class B 13,772 430,650 0.0% Federated National Holding Co. 20,896 699,180 0.0% Fidelity Southern Corp. 9,677 148,542 0.0% Fifth Third Bancorp 469,063 9,376,569 0.3% Financial Institutions, Inc. 15,696 394,597 0.0% * First Acceptance Corp. 27,407 70,162 0.0% # First American Financial Corp. 102,745 3,115,228 0.1% # First Bancorp, Inc. 9,162 162,076 0.0% * First BanCorp.(318672706) 94,723 493,507 0.0% First Bancorp.(318910106) 15,597 282,618 0.0% * First Bancshares, Inc. 700 4,879 0.0% First Bancshares, Inc. (The) 222 3,339 0.0% First Busey Corp. 96,981 606,131 0.0% First Business Financial Services, Inc. 2,134 100,149 0.0% * First Cash Financial Services, Inc. 23,904 1,412,248 0.1% First Citizens BancShares, Inc. Class A 9,387 2,358,108 0.1% # First Commonwealth Financial Corp. 162,726 1,521,488 0.1% First Community Bancshares, Inc. 16,947 277,422 0.0% First Defiance Financial Corp. 10,454 320,206 0.0% First Federal of Northern Michigan Bancorp, Inc. 800 3,912 0.0% First Financial Bancorp 78,085 1,369,611 0.0% # First Financial Bankshares, Inc. 35,508 1,128,444 0.0% First Financial Corp. 15,511 537,921 0.0% # First Financial Northwest, Inc. 17,156 199,010 0.0% * First Financial Service Corp. 1,670 6,179 0.0% # First Horizon National Corp. 349,610 4,495,985 0.1% First Interstate Bancsystem, Inc. 25,964 761,784 0.0% #* First Marblehead Corp. (The) 1,466 3,621 0.0% First Merchants Corp. 45,070 1,020,836 0.0% First Midwest Bancorp, Inc. 121,660 2,042,671 0.1% * First NBC Bank Holding Co. 4,514 165,799 0.0% First Niagara Financial Group, Inc. 308,360 2,309,616 0.1% (Degree)* First Place Financial Corp. 10,608 1 0.0% First Republic Bank 5,433 276,703 0.0% First South Bancorp, Inc. 7,807 64,408 0.0% * First United Corp. 3,697 31,609 0.0% First West Virginia Bancorp 796 15,912 0.0% # FirstMerit Corp. 141,535 2,597,167 0.1% * Flagstar Bancorp, Inc. 10,416 163,740 0.0% Flushing Financial Corp. 45,120 908,717 0.0% # FNB Corp. 256,977 3,286,736 0.1% FNF Group 190,265 5,677,508 0.2% * FNFV Group 63,414 852,284 0.0% * Forest City Enterprises, Inc. Class A 62,931 1,314,629 0.0% * Forest City Enterprises, Inc. Class B 8,417 176,294 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) #* Forestar Group, Inc. 47,689 $ 832,173 0.0% Fox Chase Bancorp, Inc. 19,210 314,660 0.0% Franklin Resources, Inc. 10,401 578,400 0.0% Fulton Financial Corp. 310,023 3,683,073 0.1% # FXCM, Inc. Class A 34,418 566,520 0.0% Gain Capital Holdings, Inc. 9,041 77,391 0.0% * GAINSCO, Inc. 1,497 15,719 0.0% # GAMCO Investors, Inc. Class A 3,733 308,420 0.0% * Genworth Financial, Inc. Class A 224,077 3,134,837 0.1% # German American Bancorp, Inc. 12,054 360,053 0.0% GFI Group, Inc. 131,667 724,169 0.0% Glacier Bancorp, Inc. 71,411 2,048,782 0.1% * Global Indemnity P.L.C. 16,912 490,110 0.0% Goldman Sachs Group, Inc. (The) 52,050 9,888,979 0.3% Great Southern Bancorp, Inc. 14,373 546,318 0.0% #* Green Dot Corp. Class A 30,531 729,691 0.0% # Greenhill & Co., Inc. 4,266 191,970 0.0% * Greenlight Capital Re, Ltd. Class A 44,716 1,451,034 0.1% Griffin Land & Nurseries, Inc. 4,473 116,969 0.0% # Guaranty Bancorp 3,867 60,983 0.0% Guaranty Federal Bancshares, Inc. 1,886 23,943 0.0% * Hallmark Financial Services, Inc. 24,580 286,603 0.0% Hampden Bancorp, Inc. 4,725 81,270 0.0% * Hampton Roads Bankshares, Inc. 520 905 0.0% Hancock Holding Co. 83,416 2,935,409 0.1% Hanmi Financial Corp. 49,523 1,062,268 0.0% Hanover Insurance Group, Inc. (The) 77,565 5,192,201 0.2% Harleysville Savings Financial Corp. 2,920 49,202 0.0% Hartford Financial Services Group, Inc. (The) 257,997 10,211,521 0.3% Hawthorn Bancshares, Inc. 2,201 30,286 0.0% HCC Insurance Holdings, Inc. 99,330 5,184,033 0.2% # HCI Group, Inc. 20,984 1,066,827 0.0% Heartland Financial USA, Inc. 16,865 448,609 0.0% Heritage Commerce Corp. 21,259 184,953 0.0% Heritage Financial Corp. 28,524 500,596 0.0% Heritage Financial Group, Inc. 5,663 119,999 0.0% HF Financial Corp. 4,200 57,078 0.0% HFF, Inc. Class A 17,098 538,245 0.0% * Hilltop Holdings, Inc. 100,268 2,208,904 0.1% Hingham Institution for Savings 872 72,132 0.0% * HMN Financial, Inc. 1,450 18,792 0.0% * Home Bancorp, Inc. 7,010 159,758 0.0% Home BancShares, Inc. 50,522 1,612,662 0.1% * HomeTrust Bancshares, Inc. 1,712 26,450 0.0% HopFed Bancorp, Inc. 2,207 25,248 0.0% Horace Mann Educators Corp. 51,894 1,578,097 0.1% # Horizon Bancorp 5,960 153,291 0.0% * Howard Hughes Corp. (The) 10,255 1,511,382 0.1% Hudson City Bancorp, Inc. 253,527 2,446,536 0.1% # Hudson Valley Holding Corp. 17,863 406,205 0.0% Huntington Bancshares, Inc. 486,672 4,822,920 0.1% Iberiabank Corp. 52,089 3,586,849 0.1% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) # Independence Holding Co. 15,010 $ 212,392 0.0% Independent Bank Corp.(453836108) 35,915 1,465,332 0.1% # Independent Bank Corp.(453838609) 7,338 88,570 0.0% # Independent Bank Group, Inc. 1,894 84,643 0.0% Infinity Property & Casualty Corp. 12,729 929,344 0.0% Interactive Brokers Group, Inc. Class A 88,790 2,292,558 0.1% Intercontinental Exchange, Inc. 6,864 1,429,703 0.1% * InterGroup Corp. (The) 235 4,465 0.0% International Bancshares Corp. 81,105 2,300,949 0.1% Intervest Bancshares Corp. Class A 18,510 180,473 0.0% #* INTL. FCStone, Inc. 22,231 402,381 0.0% Invesco, Ltd. 67,533 2,733,061 0.1% * Investment Technology Group, Inc. 55,269 990,973 0.0% # Investors Bancorp, Inc. 280,391 3,014,203 0.1% # Investors Title Co. 1,606 120,370 0.0% # Iron Mountain, Inc. 22,012 793,973 0.0% # Janus Capital Group, Inc. 87,711 1,314,788 0.0% JMP Group, Inc. 23,032 168,134 0.0% Jones Lang LaSalle, Inc. 18,950 2,562,230 0.1% JPMorgan Chase & Co. 438,800 26,538,624 0.8% * KCG Holdings, Inc. Class A 52,874 563,637 0.0% #* Kearny Financial Corp. 57,758 822,474 0.0% Kemper Corp. 87,525 3,225,296 0.1% Kennedy-Wilson Holdings, Inc. 27,663 749,391 0.0% Kentucky First Federal Bancorp 2,320 19,001 0.0% KeyCorp 391,336 5,165,635 0.2% #* Ladenburg Thalmann Financial Services, Inc. 28,345 121,033 0.0% Lake Shore Bancorp, Inc. 339 4,695 0.0% Lakeland Bancorp, Inc. 37,595 413,169 0.0% Lakeland Financial Corp. 21,673 898,129 0.0% # Landmark Bancorp, Inc. 2,006 47,943 0.0% Legg Mason, Inc. 124,614 6,479,928 0.2% Leucadia National Corp. 164,977 3,923,153 0.1% # Life Partners Holdings, Inc. 8,447 15,458 0.0% Lincoln National Corp. 118,951 6,513,757 0.2% LNB Bancorp, Inc. 9,079 127,469 0.0% Loews Corp. 111,774 4,873,346 0.1% Louisiana Bancorp, Inc. 3,003 62,703 0.0% LPL Financial Holdings, Inc. 7,048 291,717 0.0% LSB Financial Corp. 426 18,565 0.0% # M&T Bank Corp. 59,225 7,236,110 0.2% # Macatawa Bank Corp. 31,196 162,531 0.0% * Magyar Bancorp, Inc. 1,971 17,128 0.0% # Maiden Holdings, Ltd. 102,980 1,230,611 0.0% MainSource Financial Group, Inc. 20,695 376,442 0.0% * Malvern Bancorp, Inc. 241 2,704 0.0% Manning & Napier, Inc. 4,572 72,420 0.0% * Markel Corp. 7,917 5,469,776 0.2% MarketAxess Holdings, Inc. 25,322 1,637,067 0.1% Marlin Business Services Corp. 15,362 324,753 0.0% Marsh & McLennan Cos., Inc. 17,700 962,349 0.0% #* Maui Land & Pineapple Co., Inc. 4,186 25,576 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) MB Financial, Inc. 107,019 $ 3,376,449 0.1% * MBIA, Inc. 239,343 2,335,988 0.1% * MBT Financial Corp. 11,054 51,401 0.0% # Meadowbrook Insurance Group, Inc. 85,843 546,820 0.0% # Medallion Financial Corp. 8,099 93,543 0.0% # Mercantile Bank Corp. 13,932 274,878 0.0% Merchants Bancshares, Inc. 7,187 214,101 0.0% Mercury General Corp. 49,677 2,638,842 0.1% #* Meridian Bancorp, Inc. 43,495 493,233 0.0% # Meta Financial Group, Inc. 2,741 102,815 0.0% MetLife, Inc. 108,351 5,876,958 0.2% * Metro Bancorp, Inc. 16,325 408,778 0.0% #* MGIC Investment Corp. 131,227 1,170,545 0.0% MicroFinancial, Inc. 9,680 81,215 0.0% Mid Penn Bancorp, Inc. 778 12,051 0.0% # MidSouth Bancorp, Inc. 10,075 190,821 0.0% # MidWestOne Financial Group, Inc. 6,846 182,651 0.0% # Montpelier Re Holdings, Ltd. 55,944 1,853,984 0.1% Morgan Stanley 177,932 6,218,723 0.2% * MSB Financial Corp. 600 5,424 0.0% MSCI, Inc. 14,667 684,362 0.0% MutualFirst Financial, Inc. 5,151 112,034 0.0% NASDAQ OMX Group, Inc. (The) 91,090 3,940,553 0.1% National Bank Holdings Corp. Class A 8,213 160,893 0.0% # National Interstate Corp. 20,161 573,379 0.0% National Penn Bancshares, Inc. 235,768 2,426,051 0.1% National Security Group, Inc. (The) 419 5,703 0.0% National Western Life Insurance Co. Class A 2,337 633,327 0.0% #* Nationstar Mortgage Holdings, Inc. 3,026 106,273 0.0% * Naugatuck Valley Financial Corp. 989 7,863 0.0% Navient Corp. 100,491 1,987,712 0.1% * Navigators Group, Inc. (The) 17,493 1,191,098 0.0% # NBT Bancorp, Inc. 46,953 1,205,753 0.0% Nelnet, Inc. Class A 50,238 2,390,826 0.1% # New Hampshire Thrift Bancshares, Inc. 4,833 76,458 0.0% # New York Community Bancorp, Inc. 206,831 3,298,954 0.1% #* NewBridge Bancorp 12,686 112,779 0.0% #* NewStar Financial, Inc. 49,671 679,499 0.0% Nicholas Financial, Inc. 3,515 42,918 0.0% Northeast Bancorp 118 1,063 0.0% Northeast Community Bancorp, Inc. 9,104 63,728 0.0% Northern Trust Corp. 20,870 1,383,681 0.0% # Northfield Bancorp, Inc. 67,033 954,550 0.0% Northrim BanCorp, Inc. 6,399 184,931 0.0% # Northwest Bancshares, Inc. 156,661 2,009,961 0.1% # Norwood Financial Corp. 1,641 47,540 0.0% # Ocean Shore Holding Co. 6,104 87,898 0.0% OceanFirst Financial Corp. 19,770 327,589 0.0% #* Ocwen Financial Corp. 26,977 635,578 0.0% OFG Bancorp 81,037 1,261,746 0.0% Ohio Valley Banc Corp. 2,002 47,788 0.0% Old Line Bancshares, Inc. 1,957 31,273 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) Old National Bancorp 170,417 $ 2,479,567 0.1% Old Republic International Corp. 242,918 3,587,899 0.1% * Old Second Bancorp, Inc. 11,059 53,083 0.0% OmniAmerican Bancorp, Inc. 12,533 338,892 0.0% OneBeacon Insurance Group, Ltd. Class A 34,622 551,528 0.0% Oppenheimer Holdings, Inc. Class A 8,275 203,151 0.0% Oritani Financial Corp. 70,654 1,043,560 0.0% Pacific Continental Corp. 17,807 256,777 0.0% * Pacific Mercantile Bancorp 9,408 66,232 0.0% * Pacific Premier Bancorp, Inc. 4,508 72,985 0.0% PacWest Bancorp 125,913 5,371,449 0.2% # Park National Corp. 14,100 1,189,617 0.0% Park Sterling Corp. 21,825 167,180 0.0% PartnerRe, Ltd. 45,225 5,232,080 0.2% #* Patriot National Bancorp, Inc. 1,500 2,760 0.0% # Peapack Gladstone Financial Corp. 11,948 218,051 0.0% # Penns Woods Bancorp, Inc. 4,255 206,495 0.0% * PennyMac Financial Services, Inc. Class A 1,272 21,192 0.0% # People's United Financial, Inc. 273,770 4,002,517 0.1% Peoples Bancorp 1,337 32,289 0.0% Peoples Bancorp of North Carolina, Inc. 3,297 57,698 0.0% # Peoples Bancorp, Inc. 10,726 264,396 0.0% #* PHH Corp. 58,457 1,384,846 0.0% * Phoenix Cos., Inc. (The) 6,427 381,507 0.0% #* PICO Holdings, Inc. 30,924 683,420 0.0% Pinnacle Financial Partners, Inc. 39,217 1,537,306 0.1% * Piper Jaffray Cos. 20,441 1,154,099 0.0% Platinum Underwriters Holdings, Ltd. 39,027 2,444,261 0.1% PNC Financial Services Group, Inc. (The) 61,706 5,330,781 0.2% * Popular, Inc. 84,586 2,696,602 0.1% * Porter Bancorp, Inc. 6,860 4,810 0.0% PRA Group, Inc. 34,956 2,210,967 0.1% # Preferred Bank 4,326 114,985 0.0% Premier Financial Bancorp, Inc. 6,434 93,743 0.0% Primerica, Inc. 71,138 3,638,709 0.1% Principal Financial Group, Inc. 157,281 8,236,806 0.2% PrivateBancorp, Inc. 84,580 2,733,626 0.1% ProAssurance Corp. 67,820 3,172,620 0.1% Progressive Corp. (The) 87,937 2,322,416 0.1% # Prosperity Bancshares, Inc. 62,864 3,796,357 0.1% Protective Life Corp. 77,513 5,401,106 0.2% Provident Financial Holdings, Inc. 9,638 140,522 0.0% # Provident Financial Services, Inc. 83,880 1,529,132 0.1% Prudential Bancorp, Inc. 5,096 61,814 0.0% Prudential Financial, Inc. 53,496 4,736,536 0.1% * PSB Holdings, Inc. 3,252 24,910 0.0% # Pulaski Financial Corp. 10,937 130,916 0.0% # Pzena Investment Management, Inc. Class A 5,045 50,702 0.0% * QC Holdings, Inc. 12,392 21,066 0.0% QCR Holdings, Inc. 309 5,485 0.0% # Radian Group, Inc. 128,091 2,158,333 0.1% Raymond James Financial, Inc. 19,745 1,108,287 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) # RCS Capital Corp. Class A 3,475 $ 57,025 0.0% * Realogy Holdings Corp. 46,842 1,920,990 0.1% Regions Financial Corp. 613,306 6,090,129 0.2% Reinsurance Group of America, Inc. 62,058 5,228,386 0.2% RenaissanceRe Holdings, Ltd. 48,051 4,965,110 0.2% Renasant Corp. 38,902 1,172,895 0.0% Republic Bancorp, Inc. Class A 20,236 490,723 0.0% #* Republic First Bancorp, Inc. 20,713 82,231 0.0% # Resource America, Inc. Class A 26,031 248,336 0.0% * Riverview Bancorp, Inc. 13,240 53,887 0.0% # RLI Corp. 45,170 2,239,980 0.1% * Royal Bancshares of Pennsylvania, Inc. Class A 12,894 24,112 0.0% # S&T Bancorp, Inc. 34,986 965,264 0.0% #* Safeguard Scientifics, Inc. 30,484 608,156 0.0% Safety Insurance Group, Inc. 27,088 1,689,749 0.1% Salisbury Bancorp, Inc. 856 23,497 0.0% # Sandy Spring Bancorp, Inc. 29,134 751,657 0.0% SB Financial Group, Inc. 3,194 29,193 0.0% * Seacoast Banking Corp. of Florida 12,763 162,856 0.0% * Security National Financial Corp. Class A 2,246 11,208 0.0% SEI Investments Co. 12,500 483,250 0.0% * Select Bancorp, Inc. 2,187 14,806 0.0% Selective Insurance Group, Inc. 62,650 1,617,623 0.1% * Shore Bancshares, Inc. 6,118 56,163 0.0% SI Financial Group, Inc. 6,709 74,067 0.0% * Siebert Financial Corp. 9,393 20,571 0.0% Sierra Bancorp 11,952 205,096 0.0% * Signature Bank 18,001 2,180,461 0.1% Simmons First National Corp. Class A 23,870 1,002,301 0.0% Simplicity Bancorp, Inc. 9,310 154,267 0.0% SLM Corp. 304,190 2,905,014 0.1% South State Corp. 23,873 1,439,781 0.1% * Southcoast Financial Corp. 5,735 39,801 0.0% (Degree) Southern Community Financial Corp. 7,908 7,320 0.0% * Southern First Bancshares, Inc. 2,825 41,076 0.0% Southern Missouri Bancorp, Inc. 1,465 54,161 0.0% # Southern National Bancorp of Virginia, Inc. 712 8,245 0.0% # Southside Bancshares, Inc. 20,993 704,945 0.0% Southwest Bancorp, Inc. 27,307 492,345 0.0% Southwest Georgia Financial Corp. 1,854 25,029 0.0% #* St Joe Co. (The) 39,684 759,949 0.0% StanCorp Financial Group, Inc. 68,384 4,756,791 0.1% # State Auto Financial Corp. 40,019 837,598 0.0% State Street Corp. 49,732 3,752,777 0.1% Sterling Bancorp 102,678 1,443,653 0.1% Stewart Information Services Corp. 34,980 1,235,494 0.0% * Stifel Financial Corp. 68,092 3,235,051 0.1% # Stock Yards Bancorp, Inc. 15,322 509,916 0.0% * Stratus Properties, Inc. 6,580 90,936 0.0% Suffolk Bancorp 12,947 297,263 0.0% Summit State Bank 1,156 14,901 0.0% #* Sun Bancorp, Inc. 10,330 208,666 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) SunTrust Banks, Inc. 59,577 $ 2,331,844 0.1% Susquehanna Bancshares, Inc. 312,505 3,065,674 0.1% Sussex Bancorp 2,146 21,567 0.0% * SVB Financial Group 34,134 3,822,667 0.1% * SWS Group, Inc. 23,777 175,712 0.0% Symetra Financial Corp. 121,333 2,875,592 0.1% Synovus Financial Corp. 148,262 3,759,924 0.1% T Rowe Price Group, Inc. 3,600 295,524 0.0% TCF Financial Corp. 266,969 4,124,671 0.1% # TD Ameritrade Holding Corp. 38,136 1,286,709 0.0% #* Tejon Ranch Co. 17,861 539,045 0.0% Territorial Bancorp, Inc. 12,058 259,006 0.0% # Teton Advisors, Inc. Class A 39 1,989 0.0% #* Texas Capital Bancshares, Inc. 42,608 2,605,479 0.1% TFS Financial Corp. 46,228 690,646 0.0% Timberland Bancorp, Inc. 3,941 41,617 0.0% Tompkins Financial Corp. 17,262 866,552 0.0% Torchmark Corp. 22,860 1,210,666 0.0% # Towne Bank 25,265 383,017 0.0% Travelers Cos., Inc. (The) 66,684 6,721,747 0.2% #* Tree.com, Inc. 9,403 347,817 0.0% # Trico Bancshares 22,318 586,963 0.0% #* Trinity Place Holdings, Inc. 9,588 55,227 0.0% * TriState Capital Holdings, Inc. 896 8,736 0.0% # TrustCo Bank Corp. 128,218 935,991 0.0% Trustmark Corp. 108,496 2,639,708 0.1% U.S. Bancorp 118,110 5,031,486 0.2% # UMB Financial Corp. 39,973 2,381,591 0.1% Umpqua Holdings Corp. 156,496 2,754,330 0.1% Union Bankshares Corp. 56,590 1,272,143 0.0% # Union Bankshares, Inc. 2,000 48,980 0.0% United Bancshares, Inc. 2,040 30,233 0.0% # United Bankshares, Inc. 92,393 3,167,232 0.1% United Community Bancorp 993 11,846 0.0% United Community Banks, Inc. 60,738 1,095,106 0.0% # United Community Financial Corp. 11,968 61,276 0.0% United Financial Bancorp, Inc. 69,314 972,475 0.0% United Fire Group, Inc. 29,011 942,277 0.0% * United Security Bancshares 10,992 62,105 0.0% # United Security Bancshares, Inc. 600 5,184 0.0% Unity Bancorp, Inc. 6,359 58,248 0.0% # Universal Insurance Holdings, Inc. 83,507 1,461,373 0.1% Univest Corp. of Pennsylvania 18,206 373,587 0.0% Unum Group 115,811 3,875,036 0.1% Validus Holdings, Ltd. 105,899 4,212,662 0.1% # Valley National Bancorp 69,582 694,428 0.0% ViewPoint Financial Group, Inc. 40,834 1,113,543 0.0% Virtus Investment Partners, Inc. 5,488 983,504 0.0% Voya Financial, Inc. 69,954 2,745,694 0.1% # VSB Bancorp, Inc. 170 2,010 0.0% Waddell & Reed Financial, Inc. Class A 5,916 282,430 0.0% * Walker & Dunlop, Inc. 2,132 34,347 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) Washington Federal, Inc. 168,630 $ 3,681,193 0.1% Washington Trust Bancorp, Inc. 17,883 686,171 0.0% Waterstone Financial, Inc. 34,410 421,178 0.0% Wayne Savings Bancshares, Inc. 1,684 21,639 0.0% # Webster Financial Corp. 150,784 4,725,571 0.1% Wells Fargo & Co. 479,911 25,478,475 0.7% # WesBanco, Inc. 33,129 1,141,625 0.0% # West Bancorporation, Inc. 17,389 288,310 0.0% # Westamerica Bancorporation 14,718 726,186 0.0% * Western Alliance Bancorp 81,523 2,170,142 0.1% Westfield Financial, Inc. 30,858 218,166 0.0% Westwood Holdings Group, Inc. 4,920 332,100 0.0% White Mountains Insurance Group, Ltd. 530 331,208 0.0% Willis Group Holdings P.L.C. 9,007 365,054 0.0% Wilshire Bancorp, Inc. 133,754 1,324,165 0.0% Wintrust Financial Corp. 80,413 3,724,730 0.1% #* WisdomTree Investments, Inc. 50,577 746,011 0.0% #* World Acceptance Corp. 13,047 934,948 0.0% # WR Berkley Corp. 69,300 3,571,722 0.1% WSFS Financial Corp. 7,585 596,560 0.0% WVS Financial Corp. 1,627 17,775 0.0% XL Group P.L.C. 144,641 4,900,437 0.2% * Yadkin Financial Corp. 8,774 170,303 0.0% Zions Bancorporation 143,701 4,163,018 0.1% -------------------- ------------------ Total Financials 817,528,915 23.3% -------------------- ------------------ Health Care -- (7.1%) # Abaxis, Inc. 3,959 208,481 0.0% Abbott Laboratories 52,410 2,284,552 0.1% #* Acadia Healthcare Co., Inc. 15,514 962,644 0.0% #* Accelerate Diagnostics, Inc. 2,491 54,105 0.0% #* Accuray, Inc. 30,398 192,419 0.0% #* Acorda Therapeutics, Inc. 8,725 303,805 0.0% * Actavis P.L.C. 12,249 2,973,322 0.1% #* Adcare Health Systems, Inc. 49 212 0.0% * Addus HomeCare Corp. 10,890 216,384 0.0% Aetna, Inc. 47,160 3,891,172 0.1% #* Affymetrix, Inc. 94,048 847,372 0.0% Agilent Technologies, Inc. 15,200 840,256 0.0% #* Air Methods Corp. 30,597 1,445,096 0.1% #* Akorn, Inc. 38,183 1,701,053 0.1% #* Albany Molecular Research, Inc. 35,314 821,404 0.0% * Alere, Inc. 90,727 3,626,358 0.1% * Alexion Pharmaceuticals, Inc. 10,000 1,913,600 0.1% #* Align Technology, Inc. 13,755 723,788 0.0% * Alkermes P.L.C. 9,386 474,462 0.0% #* Alliance HealthCare Services, Inc. 5,402 130,350 0.0% * Allied Healthcare Products, Inc. 4,920 9,250 0.0% * Allscripts Healthcare Solutions, Inc. 169,936 2,331,522 0.1% * Almost Family, Inc. 11,147 328,168 0.0% * Alnylam Pharmaceuticals, Inc. 7,135 661,700 0.0% #* Alphatec Holdings, Inc. 91,449 139,002 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Health Care -- (Continued) #* AMAG Pharmaceuticals, Inc. 16,335 $ 539,218 0.0% #* Amedisys, Inc. 39,704 1,036,274 0.0% * American Shared Hospital Services 900 1,953 0.0% AmerisourceBergen Corp. 16,800 1,434,888 0.1% Amgen, Inc. 26,155 4,241,818 0.1% * AMN Healthcare Services, Inc. 61,456 1,053,970 0.0% * Amsurg Corp. 54,114 2,922,697 0.1% Analogic Corp. 11,775 858,868 0.0% #* AngioDynamics, Inc. 44,622 758,574 0.0% * Anika Therapeutics, Inc. 29,134 1,169,439 0.0% * Arqule, Inc. 26,950 30,993 0.0% * Arrhythmia Research Technology, Inc. 1,153 7,437 0.0% * AtriCure, Inc. 1,591 27,747 0.0% # Atrion Corp. 2,187 721,732 0.0% #* Auxilium Pharmaceuticals, Inc. 6,278 201,963 0.0% * AVEO Pharmaceuticals, Inc. 2,329 2,259 0.0% * Bio-Rad Laboratories, Inc. Class A 14,574 1,644,239 0.1% * Bio-Rad Laboratories, Inc. Class B 1,277 137,871 0.0% * Bio-Reference Laboratories, Inc. 10,468 314,459 0.0% Bio-Techne Corp. 3,336 303,743 0.0% #* Bioanalytical Systems, Inc. 1,915 4,405 0.0% #* Biodel, Inc. 4,308 6,677 0.0% * Biogen Idec, Inc. 6,870 2,205,820 0.1% * BioMarin Pharmaceutical, Inc. 7,300 602,250 0.0% #* BioScrip, Inc. 127,687 824,858 0.0% * Biospecifics Technologies Corp. 2,742 110,009 0.0% * Biota Pharmaceuticals, Inc. 6,230 15,264 0.0% #* BioTelemetry, Inc. 26,941 226,035 0.0% * Boston Scientific Corp. 189,811 2,520,690 0.1% #* Bovie Medical Corp. 13,510 53,229 0.0% * Brookdale Senior Living, Inc. 21,863 737,002 0.0% * Bruker Corp. 13,400 277,782 0.0% * Cambrex Corp. 47,097 992,805 0.0% Cantel Medical Corp. 30,310 1,285,144 0.1% #* Capital Senior Living Corp. 30,675 690,188 0.0% Cardinal Health, Inc. 11,763 923,160 0.0% * CareFusion Corp. 117,444 6,737,762 0.2% * CASI Pharmaceuticals, Inc. 63 113 0.0% #* Celsion Corp. 422 1,156 0.0% * Centene Corp. 38,472 3,565,200 0.1% * Cerner Corp. 8,000 506,720 0.0% * Charles River Laboratories International, Inc. 34,819 2,199,168 0.1% # Chemed Corp. 12,392 1,280,837 0.1% Cigna Corp. 18,390 1,831,092 0.1% * Community Health Systems, Inc. 139,365 7,660,894 0.2% # Computer Programs & Systems, Inc. 7,500 472,350 0.0% CONMED Corp. 29,451 1,236,647 0.1% (Degree) Contra Furiex Pharmaceuticals 8,317 81,257 0.0% Cooper Cos., Inc. (The) 24,927 4,085,535 0.1% * Corvel Corp. 11,386 391,906 0.0% #* Covance, Inc. 7,051 563,375 0.0% Covidien P.L.C. 15,563 1,438,644 0.1% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Health Care -- (Continued) CR Bard, Inc. 4,262 $ 698,840 0.0% * Cross Country Healthcare, Inc. 37,432 361,967 0.0% # CryoLife, Inc. 30,220 310,057 0.0% * Cubist Pharmaceuticals, Inc. 15,933 1,151,797 0.0% #* Cumberland Pharmaceuticals, Inc. 23,868 116,953 0.0% * Cutera, Inc. 17,043 178,952 0.0% #* Cyberonics, Inc. 7,429 390,023 0.0% * Cynosure, Inc. Class A 23,396 591,685 0.0% #* Cytokinetics, Inc. 9,109 33,430 0.0% * DaVita HealthCare Partners, Inc. 29,773 2,324,378 0.1% Daxor Corp. 4,092 26,250 0.0% DENTSPLY International, Inc. 10,234 519,580 0.0% * Depomed, Inc. 37,985 584,969 0.0% #* DexCom, Inc. 1,031 46,343 0.0% Digirad Corp. 16,700 71,810 0.0% #* Durect Corp. 18,046 13,174 0.0% * Edwards Lifesciences Corp. 7,400 894,808 0.0% #* Emergent Biosolutions, Inc. 44,346 1,003,107 0.0% * Endo International P.L.C. 12,185 815,420 0.0% Ensign Group, Inc. (The) 32,360 1,252,979 0.1% #* Enzo Biochem, Inc. 39,085 204,024 0.0% * EPIRUS Biopharmaceuticals, Inc. 195 965 0.0% #* Exact Sciences Corp. 3,900 93,873 0.0% * Exactech, Inc. 14,628 311,576 0.0% #* ExamWorks Group, Inc. 23,719 919,823 0.0% * Express Scripts Holding Co. 40,752 3,130,569 0.1% * Five Star Quality Care, Inc. 71,415 294,944 0.0% * Gentiva Health Services, Inc. 33,864 667,121 0.0% * Globus Medical, Inc. Class A 8,937 198,133 0.0% * Greatbatch, Inc. 25,442 1,276,934 0.1% * Haemonetics Corp. 30,688 1,157,551 0.0% #* Hanger, Inc. 33,076 791,509 0.0% * Harvard Apparatus Regenerative Technology, Inc. 7,831 49,179 0.0% * Harvard Bioscience, Inc. 35,325 169,560 0.0% * Health Net, Inc. 77,846 3,698,463 0.1% HealthSouth Corp. 20,397 822,611 0.0% * HealthStream, Inc. 17,545 543,193 0.0% #* Healthways, Inc. 44,553 690,571 0.0% #* Hemispherx Biopharma, Inc. 3,300 957 0.0% * Henry Schein, Inc. 8,644 1,037,539 0.0% Hill-Rom Holdings, Inc. 57,363 2,551,506 0.1% #* HMS Holdings Corp. 33,310 773,791 0.0% * Hologic, Inc. 124,046 3,248,765 0.1% * Hospira, Inc. 11,600 622,920 0.0% Humana, Inc. 32,479 4,509,709 0.1% * Hyperion Therapeutics, Inc. 4,827 117,296 0.0% * ICU Medical, Inc. 13,600 964,240 0.0% #* Idera Pharmaceuticals, Inc. 20,811 53,068 0.0% #* IDEXX Laboratories, Inc. 1,249 176,946 0.0% * Illumina, Inc. 9,020 1,737,072 0.1% * Impax Laboratories, Inc. 67,957 1,968,714 0.1% * Incyte Corp. 9,122 611,721 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Health Care -- (Continued) #* Infinity Pharmaceuticals, Inc. 21,177 $ 288,431 0.0% #* InfuSystems Holdings, Inc. 6,961 27,426 0.0% * Insys Therapeutics, Inc. 619 25,178 0.0% #* Integra LifeSciences Holdings Corp. 20,953 1,070,908 0.0% * Intuitive Surgical, Inc. 1,500 743,700 0.0% # Invacare Corp. 39,730 624,158 0.0% #* IPC The Hospitalist Co., Inc. 8,159 339,904 0.0% * Iridex Corp. 1,950 15,249 0.0% #* IsoRay, Inc. 680 1,176 0.0% #* Jazz Pharmaceuticals P.L.C. 4,993 843,018 0.0% Johnson & Johnson 90,092 9,710,116 0.3% Kewaunee Scientific Corp. 2,037 35,444 0.0% Kindred Healthcare, Inc. 91,955 2,000,021 0.1% * Laboratory Corp. of America Holdings 9,884 1,080,222 0.0% # Landauer, Inc. 2,932 104,936 0.0% #* Lannett Co., Inc. 21,420 1,214,942 0.0% LeMaitre Vascular, Inc. 15,418 112,860 0.0% * LHC Group, Inc. 21,781 530,367 0.0% * LifePoint Hospitals, Inc. 53,422 3,739,540 0.1% #* Ligand Pharmaceuticals, Inc. Class B 5,504 304,206 0.0% * Luminex Corp. 23,957 455,183 0.0% * Magellan Health Services, Inc. 42,821 2,591,527 0.1% * Mallinckrodt P.L.C. 14,485 1,335,227 0.1% * Masimo Corp. 21,257 536,527 0.0% #* Mast Therapeutics, Inc. 19,471 9,909 0.0% McKesson Corp. 8,300 1,688,303 0.1% #* MedAssets, Inc. 60,312 1,306,358 0.1% (Degree)* MedCath Corp. 19,024 -- 0.0% * Medicines Co. (The) 49,555 1,254,733 0.1% * MediciNova, Inc. 12,083 43,136 0.0% * Medivation, Inc. 606 64,054 0.0% * MEDNAX, Inc. 47,381 2,957,996 0.1% # Medtronic, Inc. 35,647 2,429,700 0.1% Merck & Co., Inc. 149,737 8,675,762 0.3% * Merge Healthcare, Inc. 40,761 112,093 0.0% # Meridian Bioscience, Inc. 24,088 446,592 0.0% * Merit Medical Systems, Inc. 58,164 881,185 0.0% * Misonix, Inc. 3,363 44,930 0.0% #* Molina Healthcare, Inc. 46,900 2,281,216 0.1% #* Momenta Pharmaceuticals, Inc. 28,579 311,797 0.0% #* MWI Veterinary Supply, Inc. 6,192 1,050,504 0.0% #* Mylan, Inc. 29,257 1,566,712 0.1% #* Myriad Genetics, Inc. 20,479 808,716 0.0% National Healthcare Corp. 14,808 893,070 0.0% #* National Research Corp. Class A 14,574 231,581 0.0% #* National Research Corp. Class B 2,429 79,477 0.0% #* Natus Medical, Inc. 33,553 1,140,802 0.0% * Neogen Corp. 10,000 439,000 0.0% * NuVasive, Inc. 27,918 1,141,846 0.0% Omnicare, Inc. 21,610 1,439,010 0.1% * Omnicell, Inc. 35,106 1,134,275 0.0% * OncoGenex Pharmaceutical, Inc. 350 784 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Health Care -- (Continued) * OraSure Technologies, Inc. 32,598 $ 291,752 0.0% * Orthofix International NV 22,692 666,010 0.0% # Owens & Minor, Inc. 64,899 2,162,435 0.1% #* Pacific Biosciences of California, Inc. 4,073 26,719 0.0% * Pain Therapeutics, Inc. 36,350 63,249 0.0% Paratek Pharmaceuticals, Inc. 1,176 19,102 0.0% #* PAREXEL International Corp. 37,729 2,049,062 0.1% # Patterson Cos., Inc. 12,847 553,834 0.0% * PDI, Inc. 16,959 30,865 0.0% # PDL BioPharma, Inc. 34,563 294,822 0.0% PerkinElmer, Inc. 73,180 3,177,476 0.1% #* Pernix Therapeutics Holdings, Inc. 7,231 70,502 0.0% Perrigo Co. P.L.C. 5,808 937,702 0.0% Pfizer, Inc. 459,005 13,747,200 0.4% #* PharMerica Corp. 48,026 1,377,866 0.1% #* PhotoMedex, Inc. 9,512 36,526 0.0% Pozen, Inc. 26,793 243,013 0.0% #* Prestige Brands Holdings, Inc. 65,760 2,329,219 0.1% #* Progenics Pharmaceuticals, Inc. 26,897 129,913 0.0% #* ProPhase Labs, Inc. 6,052 8,412 0.0% * Providence Service Corp. (The) 22,542 995,906 0.0% #* pSivida Corp. 4,645 18,301 0.0% # Quality Systems, Inc. 17,664 266,903 0.0% # Quest Diagnostics, Inc. 14,308 907,986 0.0% * Quidel Corp. 15,421 440,270 0.0% #* RadNet, Inc. 24,475 227,618 0.0% * Receptos, Inc. 1,234 127,904 0.0% * Regeneron Pharmaceuticals, Inc. 6,200 2,441,064 0.1% #* Repligen Corp. 30,484 768,806 0.0% #* Repros Therapeutics, Inc. 186 1,179 0.0% # ResMed, Inc. 9,600 501,312 0.0% #* Rigel Pharmaceuticals, Inc. 76,349 151,171 0.0% * RTI Surgical, Inc. 71,853 365,732 0.0% #* Sagent Pharmaceuticals, Inc. 16,177 511,840 0.0% #* Salix Pharmaceuticals, Ltd. 3,676 528,793 0.0% * Sciclone Pharmaceuticals, Inc. 69,714 532,615 0.0% #* Seattle Genetics, Inc. 7,900 289,693 0.0% Select Medical Holdings Corp. 146,220 2,108,492 0.1% Simulations Plus, Inc. 1,800 11,412 0.0% * Sirona Dental Systems, Inc. 15,186 1,192,860 0.0% * Skilled Healthcare Group, Inc. Class A 19,937 138,163 0.0% Span-America Medical Systems, Inc. 3,229 60,867 0.0% * Special Diversified Opportunities, Inc. 12,404 14,761 0.0% #* Spectrum Pharmaceuticals, Inc. 26,500 200,870 0.0% St Jude Medical, Inc. 25,187 1,616,250 0.1% #* Staar Surgical Co. 9,085 86,943 0.0% #* StemCells, Inc. 1,150 1,369 0.0% * Stereotaxis, Inc. 1,337 2,647 0.0% # STERIS Corp. 28,908 1,786,514 0.1% Stryker Corp. 9,409 823,570 0.0% #* Sucampo Pharmaceuticals, Inc. Class A 13,917 119,965 0.0% #* SunLink Health Systems, Inc. 1,702 2,979 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Health Care -- (Continued) #* SurModics, Inc. 18,031 $ 390,371 0.0% * Symmetry Medical, Inc. 59,728 591,307 0.0% #* Targacept, Inc. 21,573 50,481 0.0% * Team Health Holdings, Inc. 13,423 839,474 0.0% # Teleflex, Inc. 32,977 3,763,335 0.1% * Tenet Healthcare Corp. 31,779 1,781,213 0.1% #* Theravance Biopharma, Inc. 1,106 20,240 0.0% Thermo Fisher Scientific, Inc. 24,082 2,831,321 0.1% * Thoratec Corp. 19,834 539,088 0.0% * Tornier NV 26,718 746,768 0.0% #* Triple-S Management Corp. Class B 32,166 712,155 0.0% #* United Therapeutics Corp. 5,700 746,529 0.0% UnitedHealth Group, Inc. 73,101 6,945,326 0.2% * Universal American Corp. 106,381 991,471 0.0% Universal Health Services, Inc. Class B 12,318 1,277,500 0.1% US Physical Therapy, Inc. 14,542 627,487 0.0% # Utah Medical Products, Inc. 3,789 215,215 0.0% * Varian Medical Systems, Inc. 2,335 196,420 0.0% #* Vascular Solutions, Inc. 15,185 446,591 0.0% * VCA, Inc. 91,528 4,170,931 0.1% * Vical, Inc. 6,156 7,695 0.0% * WellCare Health Plans, Inc. 47,719 3,238,689 0.1% WellPoint, Inc. 49,131 6,224,406 0.2% # West Pharmaceutical Services, Inc. 25,768 1,320,610 0.1% * Wright Medical Group, Inc. 33,223 1,050,511 0.0% #* XenoPort, Inc. 3,196 21,669 0.0% Zimmer Holdings, Inc. 12,595 1,401,068 0.1% Zoetis, Inc. 134,752 5,007,384 0.2% -------------------- ------------------ Total Health Care 284,579,454 8.1% -------------------- ------------------ Industrials -- (12.8%) # AAON, Inc. 33,999 668,080 0.0% AAR Corp. 44,341 1,175,036 0.0% ABM Industries, Inc. 73,328 2,026,786 0.1% # Acacia Research Corp. 23,571 424,278 0.0% * ACCO Brands Corp. 157,099 1,292,925 0.0% * Accuride Corp. 39,102 188,472 0.0% # Aceto Corp. 39,280 893,227 0.0% Acme United Corp. 1,921 33,137 0.0% * Active Power, Inc. 960 1,766 0.0% Actuant Corp. Class A 63,614 2,015,928 0.1% # Acuity Brands, Inc. 4,829 673,307 0.0% #* Adept Technology, Inc. 10,771 76,259 0.0% # ADT Corp. (The) 72,734 2,606,787 0.1% #* Advisory Board Co. (The) 12,196 654,559 0.0% * AECOM Technology Corp. 143,128 4,658,801 0.1% #* Aegion Corp. 69,512 1,273,460 0.0% #* AeroCentury Corp. 1,149 12,777 0.0% #* Aerovironment, Inc. 32,371 992,171 0.0% # AGCO Corp. 92,553 4,101,023 0.1% # Air Industries Group 1,000 11,800 0.0% Air Lease Corp. 75,110 2,748,275 0.1% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) * Air Transport Services Group, Inc. 89,516 $ 732,241 0.0% Aircastle, Ltd. 10,864 207,285 0.0% Alamo Group, Inc. 14,985 641,957 0.0% Alaska Air Group, Inc. 55,226 2,939,680 0.1% Albany International Corp. Class A 27,301 1,031,432 0.0% # Allegiant Travel Co. 12,089 1,613,519 0.1% Allegion P.L.C. 7,433 394,618 0.0% Alliant Techsystems, Inc. 16,069 1,879,430 0.1% (Degree) Allied Defense Group, Inc. 6,064 485 0.0% Allied Motion Technologies, Inc. 7,832 114,974 0.0% Allison Transmission Holdings, Inc. 36,259 1,177,692 0.0% Altra Industrial Motion Corp. 35,532 1,119,969 0.0% AMERCO 19,302 5,233,158 0.2% #* Ameresco, Inc. Class A 15,221 125,421 0.0% American Airlines Group, Inc. 40,944 1,693,034 0.1% # American Railcar Industries, Inc. 23,316 1,534,426 0.1% American Science & Engineering, Inc. 8,711 481,718 0.0% #* American Superconductor Corp. 12,387 16,227 0.0% * American Woodmark Corp. 18,446 754,626 0.0% AMETEK, Inc. 24,074 1,255,459 0.0% #* AMREP Corp. 6,528 25,394 0.0% AO Smith Corp. 27,188 1,450,480 0.1% Apogee Enterprises, Inc. 30,486 1,338,335 0.1% Applied Industrial Technologies, Inc. 34,709 1,694,146 0.1% * ARC Document Solutions, Inc. 67,082 680,882 0.0% # ArcBest Corp. 28,900 1,118,430 0.0% Argan, Inc. 27,116 943,908 0.0% * Armstrong World Industries, Inc. 22,710 1,099,618 0.0% #* Arotech Corp. 3,519 10,381 0.0% Astec Industries, Inc. 34,214 1,297,053 0.0% * Astronics Corp. 8,740 452,819 0.0% #* Astronics Corp. Class B 3,845 198,786 0.0% #* Atlas Air Worldwide Holdings, Inc. 42,729 1,577,555 0.1% * Avalon Holdings Corp. Class A 700 2,450 0.0% * Avis Budget Group, Inc. 124,765 6,955,649 0.2% # AZZ, Inc. 25,170 1,176,949 0.0% * B/E Aerospace, Inc. 13,582 1,011,180 0.0% Babcock & Wilcox Co. (The) 9,236 264,150 0.0% # Baltic Trading, Ltd. 11,628 43,605 0.0% Barnes Group, Inc. 81,618 2,983,954 0.1% Barrett Business Services, Inc. 10,851 255,107 0.0% #* Beacon Roofing Supply, Inc. 54,616 1,511,225 0.1% * Blount International, Inc. 107,295 1,642,686 0.1% #* BlueLinx Holdings, Inc. 61,893 74,272 0.0% Brady Corp. Class A 63,069 1,503,565 0.1% * Breeze-Eastern Corp. 7,923 82,478 0.0% # Briggs & Stratton Corp. 76,718 1,550,471 0.1% Brink's Co. (The) 37,324 783,804 0.0% * Broadwind Energy, Inc. 70 447 0.0% #* Builders FirstSource, Inc. 52,668 312,321 0.0% * CAI International, Inc. 25,760 542,248 0.0% Carlisle Cos., Inc. 30,362 2,698,575 0.1% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) #* Casella Waste Systems, Inc. Class A 26,530 $ 119,385 0.0% Caterpillar, Inc. 24,748 2,509,695 0.1% #* CBIZ, Inc. 81,292 750,325 0.0% CDI Corp. 22,974 394,923 0.0% Ceco Environmental Corp. 16,485 236,065 0.0% Celadon Group, Inc. 36,314 706,670 0.0% #* Chart Industries, Inc. 23,323 1,085,686 0.0% # Chicago Bridge & Iron Co. NV 4,295 234,679 0.0% Chicago Rivet & Machine Co. 508 15,763 0.0% Cintas Corp. 14,003 1,025,580 0.0% CIRCOR International, Inc. 18,896 1,420,034 0.1% Civeo Corp. 83,510 1,017,987 0.0% # CLARCOR, Inc. 14,847 994,155 0.0% #* Clean Harbors, Inc. 25,613 1,271,173 0.0% #* Colfax Corp. 16,318 887,373 0.0% Columbus McKinnon Corp. 26,907 765,504 0.0% Comfort Systems USA, Inc. 52,854 811,837 0.0% * Command Security Corp. 5,329 11,990 0.0% * Commercial Vehicle Group, Inc. 14,900 97,595 0.0% Compx International, Inc. 2,522 28,070 0.0% Con-way, Inc. 58,662 2,544,171 0.1% Copa Holdings SA Class A 12,260 1,433,439 0.1% * Copart, Inc. 11,279 377,170 0.0% Corporate Executive Board Co. (The) 16,317 1,202,563 0.0% Courier Corp. 16,697 226,578 0.0% # Covanta Holding Corp. 123,094 2,716,685 0.1% * Covenant Transportation Group, Inc. Class A 12,236 253,775 0.0% * CPI Aerostructures, Inc. 8,398 80,201 0.0% * CRA International, Inc. 11,485 344,550 0.0% Crane Co. 16,743 1,043,926 0.0% CSX Corp. 254,141 9,055,044 0.3% * CTPartners Executive Search, Inc. 3,804 69,423 0.0% Cubic Corp. 24,919 1,202,093 0.0% Cummins, Inc. 5,600 818,608 0.0% Curtiss-Wright Corp. 46,175 3,195,772 0.1% Danaher Corp. 35,456 2,850,662 0.1% # Deere & Co. 14,188 1,213,642 0.0% Delta Air Lines, Inc. 79,618 3,203,032 0.1% Deluxe Corp. 29,437 1,789,770 0.1% #* DigitalGlobe, Inc. 89,817 2,567,868 0.1% Donaldson Co., Inc. 4,827 200,707 0.0% Douglas Dynamics, Inc. 43,782 907,601 0.0% Dover Corp. 22,423 1,781,283 0.1% * Ducommun, Inc. 11,679 308,442 0.0% Dun & Bradstreet Corp. (The) 4,626 568,119 0.0% * DXP Enterprises, Inc. 10,820 717,258 0.0% * Dycom Industries, Inc. 38,369 1,204,403 0.0% Dynamic Materials Corp. 16,673 303,615 0.0% Eastern Co. (The) 5,585 91,147 0.0% Eaton Corp. P.L.C. 29,601 2,024,412 0.1% #* Echo Global Logistics, Inc. 28,773 751,838 0.0% Ecology and Environment, Inc. Class A 2,769 27,385 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) EMCOR Group, Inc. 67,561 $ 2,981,467 0.1% Emerson Electric Co. 31,243 2,001,427 0.1% Encore Wire Corp. 22,353 848,073 0.0% #* Energy Recovery, Inc. 44,908 205,679 0.0% # EnerSys 46,160 2,898,848 0.1% #* Engility Holdings, Inc. 18,925 817,560 0.0% Ennis, Inc. 32,470 481,530 0.0% * EnPro Industries, Inc. 21,572 1,392,041 0.1% EnviroStar, Inc. 1,100 2,860 0.0% Equifax, Inc. 11,845 897,140 0.0% # ESCO Technologies, Inc. 36,683 1,394,688 0.1% Espey Manufacturing & Electronics Corp. 3,027 57,513 0.0% * Esterline Technologies Corp. 25,162 2,946,722 0.1% Exelis, Inc. 102,197 1,824,216 0.1% Expeditors International of Washington, Inc. 10,482 447,162 0.0% Exponent, Inc. 8,018 639,997 0.0% Federal Signal Corp. 68,656 974,915 0.0% FedEx Corp. 24,897 4,167,758 0.1% Flowserve Corp. 10,200 693,498 0.0% Fluor Corp. 14,089 934,664 0.0% Fortune Brands Home & Security, Inc. 28,075 1,214,244 0.0% Forward Air Corp. 21,199 1,014,796 0.0% * Franklin Covey Co. 20,197 396,063 0.0% Franklin Electric Co., Inc. 37,287 1,392,297 0.1% FreightCar America, Inc. 19,792 652,542 0.0% * FTI Consulting, Inc. 72,848 2,941,602 0.1% #* Fuel Tech, Inc. 26,879 108,860 0.0% * Furmanite Corp. 42,476 317,720 0.0% G&K Services, Inc. Class A 22,919 1,445,501 0.1% GATX Corp. 50,833 3,222,812 0.1% #* Gencor Industries, Inc. 4,926 47,733 0.0% #* GenCorp, Inc. 18,966 321,663 0.0% #* Generac Holdings, Inc. 6,138 278,297 0.0% # General Cable Corp. 62,825 890,230 0.0% General Dynamics Corp. 22,257 3,110,638 0.1% General Electric Co. 600,239 15,492,169 0.5% * Genesee & Wyoming, Inc. Class A 27,541 2,649,444 0.1% * Gibraltar Industries, Inc. 33,716 514,169 0.0% Global Brass & Copper Holdings, Inc. 7,264 101,696 0.0% # Global Power Equipment Group, Inc. 15,716 214,209 0.0% #* Goldfield Corp. (The) 9,421 18,088 0.0% # Gorman-Rupp Co. (The) 22,451 712,595 0.0% * GP Strategies Corp. 20,829 690,690 0.0% Graco, Inc. 4,338 340,533 0.0% #* GrafTech International, Ltd. 173,617 744,817 0.0% Graham Corp. 10,133 339,455 0.0% Granite Construction, Inc. 45,788 1,690,035 0.1% #* Great Lakes Dredge & Dock Corp. 78,537 548,974 0.0% # Greenbrier Cos., Inc. (The) 32,885 2,056,628 0.1% Griffon Corp. 69,548 854,745 0.0% H&E Equipment Services, Inc. 33,189 1,240,937 0.0% Hardinge, Inc. 13,131 147,330 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) Harsco Corp. 83,219 $ 1,804,188 0.1% #* Hawaiian Holdings, Inc. 57,468 996,495 0.0% # Healthcare Services Group, Inc. 15,811 470,852 0.0% # Heartland Express, Inc. 50,751 1,275,880 0.0% # HEICO Corp. 8,377 454,368 0.0% HEICO Corp. Class A 13,554 620,095 0.0% Heidrick & Struggles International, Inc. 24,712 514,504 0.0% #* Heritage-Crystal Clean, Inc. 1,954 35,446 0.0% Herman Miller, Inc. 22,545 721,440 0.0% * Hertz Global Holdings, Inc. 70,637 1,548,363 0.1% #* Hexcel Corp. 22,061 924,135 0.0% #* Hill International, Inc. 67,224 260,829 0.0% Hillenbrand, Inc. 52,514 1,748,191 0.1% HNI Corp. 30,081 1,403,279 0.1% Honeywell International, Inc. 22,922 2,203,263 0.1% Houston Wire & Cable Co. 25,592 347,028 0.0% * Hub Group, Inc. Class A 56,510 2,050,748 0.1% # Hubbell, Inc. Class A 1,952 235,099 0.0% Hubbell, Inc. Class B 6,877 779,921 0.0% * Hudson Global, Inc. 34,265 116,844 0.0% Huntington Ingalls Industries, Inc. 17,179 1,817,882 0.1% Hurco Cos., Inc. 9,943 383,104 0.0% * Huron Consulting Group, Inc. 22,253 1,549,031 0.1% Hyster-Yale Materials Handling, Inc. 13,948 1,094,779 0.0% * ICF International, Inc. 28,023 1,018,356 0.0% IDEX Corp. 15,583 1,167,323 0.0% * IHS, Inc. Class A 4,370 572,601 0.0% Illinois Tool Works, Inc. 13,917 1,267,143 0.0% Ingersoll-Rand P.L.C. 23,501 1,471,633 0.1% #* InnerWorkings, Inc. 46,741 424,408 0.0% * Innovative Solutions & Support, Inc. 16,826 46,945 0.0% Insperity, Inc. 30,992 978,108 0.0% Insteel Industries, Inc. 22,225 529,844 0.0% * Integrated Electrical Services, Inc. 15,111 119,830 0.0% Interface, Inc. 29,517 473,158 0.0% International Shipholding Corp. 1,100 22,044 0.0% # Intersections, Inc. 18,573 74,292 0.0% ITT Corp. 29,937 1,348,961 0.1% * Jacobs Engineering Group, Inc. 12,712 603,184 0.0% # JB Hunt Transport Services, Inc. 6,000 478,620 0.0% #* JetBlue Airways Corp. 331,433 3,824,737 0.1% John Bean Technologies Corp. 19,647 588,821 0.0% # Joy Global, Inc. 48,576 2,556,555 0.1% Kadant, Inc. 1,953 80,737 0.0% Kaman Corp. 31,768 1,367,930 0.1% Kansas City Southern 13,629 1,673,505 0.1% KAR Auction Services, Inc. 72,749 2,208,660 0.1% KBR, Inc. 45,455 867,281 0.0% # Kelly Services, Inc. Class A 41,979 740,090 0.0% Kelly Services, Inc. Class B 700 10,588 0.0% # Kennametal, Inc. 31,380 1,211,582 0.0% * Key Technology, Inc. 5,258 69,616 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) # Kforce, Inc. 37,672 $ 872,107 0.0% # Kimball International, Inc. Class B 35,639 640,789 0.0% * Kirby Corp. 23,203 2,565,788 0.1% # Knight Transportation, Inc. 95,381 2,790,848 0.1% # Knightsbridge Shipping, Ltd. 63,354 556,248 0.0% Knoll, Inc. 36,618 728,332 0.0% * Korn/Ferry International 54,689 1,527,464 0.1% #* Kratos Defense & Security Solutions, Inc. 77,882 542,838 0.0% L-3 Communications Holdings, Inc. 51,364 6,238,671 0.2% # Landstar System, Inc. 16,265 1,203,773 0.0% * Lawson Products, Inc. 8,745 210,580 0.0% #* Layne Christensen Co. 24,719 177,977 0.0% LB Foster Co. Class A 13,222 715,178 0.0% Lennox International, Inc. 6,221 553,171 0.0% Lincoln Electric Holdings, Inc. 19,400 1,406,112 0.1% # Lindsay Corp. 6,903 605,393 0.0% #* LMI Aerospace, Inc. 16,711 220,251 0.0% LS Starrett Co. (The) Class A 6,944 102,632 0.0% # LSI Industries, Inc. 32,842 235,149 0.0% * Luna Innovations, Inc. 3,800 5,168 0.0% * Lydall, Inc. 17,009 526,088 0.0% * Magnetek, Inc. 1,197 37,191 0.0% #* Manitex International, Inc. 3,300 37,719 0.0% Manitowoc Co., Inc. (The) 58,740 1,224,142 0.0% Manpowergroup, Inc. 39,253 2,620,138 0.1% Marten Transport, Ltd. 38,690 759,098 0.0% Masco Corp. 60,333 1,331,549 0.1% #* MasTec, Inc. 76,702 2,196,745 0.1% Mastech Holdings, Inc. 991 11,644 0.0% Matson, Inc. 52,197 1,487,093 0.1% # Matthews International Corp. Class A 30,118 1,387,837 0.1% # McGrath RentCorp 28,342 1,035,333 0.0% * Meritor, Inc. 43,358 498,183 0.0% * Mfri, Inc. 5,730 52,258 0.0% * Middleby Corp. (The) 18,460 1,633,710 0.1% Miller Industries, Inc. 14,134 279,429 0.0% * Mistras Group, Inc. 22,617 372,954 0.0% Mobile Mini, Inc. 58,982 2,585,181 0.1% * Moog, Inc. Class A 33,638 2,574,653 0.1% * Moog, Inc. Class B 2,977 227,175 0.0% * MRC Global, Inc. 65,783 1,383,416 0.1% MSA Safety, Inc. 25,323 1,455,313 0.1% MSC Industrial Direct Co., Inc. Class A 2,704 218,943 0.0% Mueller Industries, Inc. 71,272 2,313,489 0.1% Mueller Water Products, Inc. Class A 171,486 1,692,567 0.1% # Multi-Color Corp. 20,797 1,025,292 0.0% #* MYR Group, Inc. 36,938 958,172 0.0% # National Presto Industries, Inc. 7,418 467,779 0.0% * Navigant Consulting, Inc. 63,012 969,755 0.0% #* NCI Building Systems, Inc. 1,411 28,037 0.0% Nielsen NV 35,633 1,514,046 0.1% # NL Industries, Inc. 44,564 324,872 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) NN, Inc. 20,136 $ 503,400 0.0% Nordson Corp. 8,370 640,723 0.0% Norfolk Southern Corp. 60,802 6,727,133 0.2% #* Nortek, Inc. 1,428 118,924 0.0% Northrop Grumman Corp. 13,622 1,879,291 0.1% * Northwest Pipe Co. 13,889 496,948 0.0% #* NOW, Inc. 22,865 687,322 0.0% #* Ocean Power Technologies, Inc. 8,120 8,120 0.0% * Old Dominion Freight Line, Inc. 44,451 3,239,144 0.1% # Omega Flex, Inc. 4,638 123,464 0.0% * On Assignment, Inc. 40,261 1,171,595 0.0% * Orbital Sciences Corp. 65,692 1,727,700 0.1% * Orion Energy Systems, Inc. 23,165 133,199 0.0% #* Orion Marine Group, Inc. 24,325 266,602 0.0% Oshkosh Corp. 76,569 3,427,228 0.1% Owens Corning 115,475 3,702,128 0.1% PACCAR, Inc. 12,376 808,400 0.0% Pall Corp. 7,100 649,082 0.0% #* PAM Transportation Services, Inc. 10,927 469,642 0.0% Park-Ohio Holdings Corp. 18,439 979,295 0.0% Parker Hannifin Corp. 12,820 1,628,525 0.1% * Patrick Industries, Inc. 16,831 719,020 0.0% #* Patriot Transportation Holding, Inc. 7,423 314,438 0.0% * Pendrell Corp. 45,689 76,301 0.0% Pentair P.L.C. 35,552 2,383,762 0.1% * Performant Financial Corp. 54,745 472,449 0.0% * PGT, Inc. 41,352 388,916 0.0% * Pike Corp. 40,043 478,113 0.0% Pitney Bowes, Inc. 12,301 304,327 0.0% #* Ply Gem Holdings, Inc. 7,158 81,243 0.0% #* PMFG, Inc. 8,778 46,172 0.0% #* Polypore International, Inc. 15,753 691,872 0.0% # Powell Industries, Inc. 13,987 636,828 0.0% #* PowerSecure International, Inc. 22,223 248,231 0.0% Precision Castparts Corp. 3,455 762,518 0.0% Preformed Line Products Co. 6,010 342,510 0.0% Primoris Services Corp. 37,985 1,090,929 0.0% #* Proto Labs, Inc. 1,950 127,472 0.0% Providence and Worcester Railroad Co. 2,562 45,578 0.0% # Quad/Graphics, Inc. 16,253 358,379 0.0% * Quality Distribution, Inc. 17,290 224,078 0.0% # Quanex Building Products Corp. 54,916 1,099,418 0.0% * Quanta Services, Inc. 28,690 977,755 0.0% * Radiant Logistics, Inc. 4,733 18,317 0.0% # Raven Industries, Inc. 23,262 589,692 0.0% Raytheon Co. 17,714 1,840,130 0.1% RBC Bearings, Inc. 15,218 924,493 0.0% * RCM Technologies, Inc. 10,468 78,929 0.0% #* Real Goods Solar, Inc. Class A 3,465 2,790 0.0% Regal-Beloit Corp. 34,752 2,466,349 0.1% #* Republic Airways Holdings, Inc. 54,181 678,346 0.0% Republic Services, Inc. 168,580 6,473,472 0.2% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) Resources Connection, Inc. 52,090 $ 805,832 0.0% #* Rexnord Corp. 27,306 806,892 0.0% #* Roadrunner Transportation Systems, Inc. 40,624 837,261 0.0% Robert Half International, Inc. 1,000 54,780 0.0% Rockwell Automation, Inc. 9,200 1,033,620 0.0% Rollins, Inc. 11,475 365,708 0.0% Roper Industries, Inc. 9,010 1,426,283 0.1% * RPX Corp. 78,745 1,106,367 0.0% # RR Donnelley & Sons Co. 73,811 1,288,002 0.0% #* Rush Enterprises, Inc. Class A 35,113 1,337,805 0.1% * Rush Enterprises, Inc. Class B 4,506 145,679 0.0% Ryder System, Inc. 84,178 7,447,228 0.2% * Saia, Inc. 31,322 1,535,404 0.1% #* Sensata Technologies Holding NV 5,165 252,104 0.0% #* Servotronics, Inc. 1,499 9,609 0.0% SIFCO Industries, Inc. 4,888 166,290 0.0% Simpson Manufacturing Co., Inc. 48,444 1,602,528 0.1% # SkyWest, Inc. 65,489 754,433 0.0% * SL Industries, Inc. 9,000 405,000 0.0% SmartPros, Ltd. 1,700 2,856 0.0% Snap-on, Inc. 22,655 2,993,632 0.1% Southwest Airlines Co. 457,205 15,764,428 0.5% #* SP Plus Corp. 10,006 218,331 0.0% * Sparton Corp. 10,134 274,631 0.0% * Spirit Aerosystems Holdings, Inc. Class A 41,712 1,640,950 0.1% * Spirit Airlines, Inc. 1,658 121,216 0.0% SPX Corp. 17,868 1,693,708 0.1% #* Standard Register Co. (The) 5,242 26,839 0.0% Standex International Corp. 14,134 1,219,057 0.0% Stanley Black & Decker, Inc. 47,494 4,447,338 0.1% Steelcase, Inc. Class A 80,238 1,421,817 0.1% * Stericycle, Inc. 3,559 448,434 0.0% #* Sterling Construction Co., Inc. 18,632 164,334 0.0% # Sun Hydraulics Corp. 12,252 487,752 0.0% Supreme Industries, Inc. Class A 9,289 61,772 0.0% * Swift Transportation Co. 32,153 794,179 0.0% # TAL International Group, Inc. 63,304 2,730,302 0.1% #* Taser International, Inc. 20,936 394,434 0.0% * Team, Inc. 20,697 872,172 0.0% * Tecumseh Products Co. 16,120 59,483 0.0% * Teledyne Technologies, Inc. 20,382 2,112,187 0.1% Tennant Co. 9,285 684,583 0.0% # Terex Corp. 100,493 2,891,184 0.1% Tetra Tech, Inc. 88,063 2,360,969 0.1% # Textainer Group Holdings, Ltd. 51,126 1,760,779 0.1% Textron, Inc. 27,184 1,128,952 0.0% * Thermon Group Holdings, Inc. 10,421 253,960 0.0% Timken Co. (The) 24,603 1,057,683 0.0% # Titan International, Inc. 67,296 710,646 0.0% #* Titan Machinery, Inc. 23,132 318,296 0.0% Toro Co. (The) 7,800 481,494 0.0% Towers Watson & Co. Class A 5,900 650,711 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) TransDigm Group, Inc. 4,939 $ 923,741 0.0% * TRC Cos., Inc. 18,568 135,175 0.0% #* Trex Co., Inc. 14,075 605,225 0.0% * Trimas Corp. 28,364 898,004 0.0% # Trinity Industries, Inc. 155,000 5,535,050 0.2% Triumph Group, Inc. 43,824 3,051,465 0.1% * TrueBlue, Inc. 43,153 1,066,742 0.0% * Tutor Perini Corp. 84,118 2,356,145 0.1% Twin Disc, Inc. 16,100 418,922 0.0% Tyco International, Ltd. 21,904 940,339 0.0% * Ultralife Corp. 16,511 52,340 0.0% UniFirst Corp. 15,007 1,674,181 0.1% Union Pacific Corp. 76,102 8,862,078 0.3% * United Continental Holdings, Inc. 54,975 2,903,230 0.1% * United Rentals, Inc. 42,810 4,711,669 0.1% # United Stationers, Inc. 41,796 1,745,819 0.1% United Technologies Corp. 29,904 3,199,728 0.1% Universal Forest Products, Inc. 23,626 1,180,591 0.0% # Universal Truckload Services, Inc. 16,584 436,491 0.0% # US Ecology, Inc. 16,963 852,900 0.0% #* USA Truck, Inc. 13,082 221,086 0.0% #* USG Corp. 34,324 921,943 0.0% #* UTi Worldwide, Inc. 119,915 1,310,671 0.0% # Valmont Industries, Inc. 11,371 1,548,389 0.1% * Vectrus, Inc. 5,677 138,746 0.0% * Veritiv Corp. 1,286 58,011 0.0% * Versar, Inc. 7,645 24,846 0.0% Viad Corp. 30,419 775,989 0.0% #* Vicor Corp. 23,646 321,822 0.0% * Virco Manufacturing Corp. 21,636 58,634 0.0% #* Volt Information Sciences, Inc. 24,400 202,276 0.0% VSE Corp. 6,953 419,127 0.0% #* Wabash National Corp. 82,290 847,587 0.0% * WABCO Holdings, Inc. 8,200 798,516 0.0% Wabtec Corp. 11,888 1,025,934 0.0% Waste Connections, Inc. 55,365 2,762,713 0.1% Waste Management, Inc. 23,011 1,125,008 0.0% Watsco, Inc. 7,344 746,297 0.0% Watsco, Inc. Class B 1,205 123,531 0.0% Watts Water Technologies, Inc. Class A 30,800 1,867,404 0.1% # Werner Enterprises, Inc. 91,427 2,517,900 0.1% #* Wesco Aircraft Holdings, Inc. 51,999 922,982 0.0% #* WESCO International, Inc. 34,493 2,842,568 0.1% West Corp. 6,187 197,984 0.0% #* Willdan Group, Inc. 6,854 89,924 0.0% * Willis Lease Finance Corp. 8,183 186,654 0.0% # Woodward, Inc. 12,304 630,088 0.0% # WW Grainger, Inc. 5,500 1,357,400 0.1% * Xerium Technologies, Inc. 1,501 22,395 0.0% #* XPO Logistics, Inc. 21,438 855,805 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) Xylem, Inc. 19,081 $ 693,785 0.0% -------------------- ------------------ Total Industrials 513,945,131 14.7% -------------------- ------------------ Information Technology -- (12.0%) #* 3D Systems Corp. 11,613 438,971 0.0% * ACI Worldwide, Inc. 56,562 1,088,253 0.0% #* Acorn Energy, Inc. 16,783 17,622 0.0% Activision Blizzard, Inc. 298,945 5,963,953 0.2% * Actua Corp. 49,589 932,273 0.0% #* Actuate Corp. 49,474 212,243 0.0% * Acxiom Corp. 75,579 1,423,908 0.1% #* ADDvantage Technologies Group, Inc. 7,160 17,256 0.0% # ADTRAN, Inc. 38,698 820,785 0.0% * Advanced Energy Industries, Inc. 42,574 842,114 0.0% #* Advanced Micro Devices, Inc. 39,930 111,804 0.0% # Advent Software, Inc. 22,571 780,054 0.0% #* Aehr Test Systems 2,692 6,972 0.0% #* Aetrium, Inc. 650 2,288 0.0% * Agilysys, Inc. 36,408 411,410 0.0% * Akamai Technologies, Inc. 8,346 503,264 0.0% #* Alliance Data Systems Corp. 2,000 566,700 0.0% #* Alpha & Omega Semiconductor, Ltd. 7,291 67,588 0.0% Altera Corp. 14,759 507,267 0.0% Amdocs, Ltd. 14,311 680,345 0.0% American Software, Inc. Class A 26,003 251,189 0.0% * Amkor Technology, Inc. 204,272 1,384,964 0.1% Amphenol Corp. Class A 17,438 882,014 0.0% * Amtech Systems, Inc. 8,142 85,735 0.0% #* ANADIGICS, Inc. 86,065 61,106 0.0% Analog Devices, Inc. 21,203 1,052,093 0.0% Anixter International, Inc. 17,082 1,454,874 0.1% * ANSYS, Inc. 6,005 471,753 0.0% * AOL, Inc. 91,685 3,991,048 0.1% Apple, Inc. 308,343 33,301,044 1.0% Applied Materials, Inc. 70,077 1,548,001 0.1% * ARRIS Group, Inc. 90,663 2,721,703 0.1% * Arrow Electronics, Inc. 112,721 6,409,316 0.2% #* Ascent Solar Technologies, Inc. 3,117 5,486 0.0% * Aspen Technology, Inc. 7,189 265,490 0.0% Astro-Med, Inc. 7,311 98,041 0.0% * Atmel Corp. 56,833 421,701 0.0% * Autobytel, Inc. 2,224 20,550 0.0% * Autodesk, Inc. 10,099 581,096 0.0% Avago Technologies, Ltd. 14,754 1,272,532 0.1% * AVG Technologies NV 24,953 447,158 0.0% #* Aviat Networks, Inc. 63,193 111,220 0.0% * Avid Technology, Inc. 43,600 438,180 0.0% Avnet, Inc. 104,068 4,500,941 0.1% AVX Corp. 137,407 1,984,157 0.1% Aware, Inc. 18,447 79,691 0.0% * Axcelis Technologies, Inc. 101,937 222,223 0.0% * AXT, Inc. 32,748 77,285 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) # Badger Meter, Inc. 16,601 $ 944,929 0.0% #* Bankrate, Inc. 71,742 779,118 0.0% Bel Fuse, Inc. Class A 3,300 83,820 0.0% Bel Fuse, Inc. Class B 11,025 311,897 0.0% Belden, Inc. 11,114 791,206 0.0% * Benchmark Electronics, Inc. 77,718 1,843,471 0.1% Black Box Corp. 25,515 561,075 0.0% # Blackbaud, Inc. 17,374 773,143 0.0% * Blackhawk Network Holdings, Inc. Class B 15,874 530,192 0.0% * Blucora, Inc. 44,670 757,156 0.0% # Booz Allen Hamilton Holding Corp. 3,567 93,990 0.0% * Bottomline Technologies de, Inc. 22,107 554,665 0.0% Broadcom Corp. Class A 3,000 125,640 0.0% Broadridge Financial Solutions, Inc. 10,635 467,196 0.0% * BroadVision, Inc. 4,752 37,826 0.0% Brocade Communications Systems, Inc. 352,464 3,781,939 0.1% Brooks Automation, Inc. 114,409 1,410,663 0.1% * Bsquare Corp. 8,148 31,859 0.0% * BTU International, Inc. 6,833 22,754 0.0% CA, Inc. 61,441 1,785,475 0.1% #* Cabot Microelectronics Corp. 21,805 1,051,655 0.0% #* CACI International, Inc. Class A 29,488 2,426,568 0.1% #* Cadence Design Systems, Inc. 24,600 441,570 0.0% #* CalAmp Corp. 10,864 209,458 0.0% #* Calix, Inc. 65,769 710,963 0.0% #* Carbonite, Inc. 5,468 59,820 0.0% #* Cardtronics, Inc. 16,311 626,179 0.0% * Cartesian, Inc. 1,166 4,559 0.0% * Cascade Microtech, Inc. 15,211 163,366 0.0% # Cass Information Systems, Inc. 11,342 539,199 0.0% #* Ceva, Inc. 24,182 394,167 0.0% * Checkpoint Systems, Inc. 50,611 671,102 0.0% #* ChyronHego Corp. 2,300 6,578 0.0% #* CIBER, Inc. 102,295 334,505 0.0% #* Ciena Corp. 32,391 542,873 0.0% #* Cirrus Logic, Inc. 41,830 807,319 0.0% Cisco Systems, Inc. 296,995 7,267,468 0.2% * Citrix Systems, Inc. 8,516 546,983 0.0% #* Clearfield, Inc. 8,316 122,079 0.0% #* Cognex Corp. 24,234 958,697 0.0% * Coherent, Inc. 22,667 1,476,755 0.1% Cohu, Inc. 33,534 342,047 0.0% Communications Systems, Inc. 13,122 155,233 0.0% * CommVault Systems, Inc. 5,207 230,878 0.0% Computer Sciences Corp. 27,793 1,678,697 0.1% Computer Task Group, Inc. 16,515 145,332 0.0% Compuware Corp. 138,661 1,407,409 0.1% #* comScore, Inc. 7,079 298,309 0.0% Comtech Telecommunications Corp. 24,798 944,060 0.0% * Comverse, Inc. 989 21,560 0.0% #* Concur Technologies, Inc. 4,757 610,418 0.0% Concurrent Computer Corp. 7,430 52,753 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) #* Constant Contact, Inc. 11,895 $ 420,607 0.0% # Convergys Corp. 126,940 2,560,380 0.1% #* Conversant, Inc. 79,503 2,802,481 0.1% * CoreLogic, Inc. 85,227 2,673,571 0.1% Corning, Inc. 144,927 2,960,859 0.1% * CoStar Group, Inc. 5,195 836,863 0.0% * Covisint Corp. 19,447 56,202 0.0% #* Cray, Inc. 22,481 779,191 0.0% #* Cree, Inc. 36,353 1,144,392 0.0% #* Crexendo, Inc. 6,718 19,046 0.0% CSG Systems International, Inc. 38,268 1,014,485 0.0% CSP, Inc. 2,269 18,084 0.0% CTS Corp. 37,499 689,982 0.0% * CyberOptics Corp. 7,973 72,953 0.0% Daktronics, Inc. 46,803 622,948 0.0% #* Datalink Corp. 17,293 218,756 0.0% #* Dataram Corp. 1,316 2,856 0.0% #* Dealertrack Technologies, Inc. 39,373 1,852,500 0.1% #* Demand Media, Inc. 9,751 68,647 0.0% * Dice Holdings, Inc. 104,568 1,042,543 0.0% # Diebold, Inc. 22,614 801,214 0.0% * Digi International, Inc. 27,924 231,211 0.0% # Digimarc Corp. 5,363 155,473 0.0% * Digital River, Inc. 46,992 1,201,585 0.0% * Diodes, Inc. 45,910 1,185,855 0.0% Dolby Laboratories, Inc. Class A 7,192 301,489 0.0% * Dot Hill Systems Corp. 43,235 170,778 0.0% * DSP Group, Inc. 27,008 261,708 0.0% DST Systems, Inc. 12,505 1,204,857 0.1% * DTS, Inc. 19,851 591,163 0.0% # EarthLink Holdings Corp. 166,795 597,126 0.0% * eBay, Inc. 38,237 2,007,442 0.1% # Ebix, Inc. 29,521 435,435 0.0% #* Echelon Corp. 18,748 39,371 0.0% * EchoStar Corp. Class A 39,899 1,864,480 0.1% * Edgewater Technology, Inc. 8,479 59,862 0.0% #* Elecsys Corp. 1,496 15,349 0.0% Electro Rent Corp. 27,378 417,241 0.0% Electro Scientific Industries, Inc. 33,107 235,060 0.0% * Electronic Arts, Inc. 19,023 779,372 0.0% #* Electronics for Imaging, Inc. 41,192 1,883,298 0.1% #* Ellie Mae, Inc. 2,429 93,225 0.0% #* eMagin Corp. 11,664 30,910 0.0% EMC Corp. 110,200 3,166,046 0.1% * Emcore Corp. 31,262 161,312 0.0% #* Emulex Corp. 101,335 573,556 0.0% #* EnerNOC, Inc. 38,787 572,884 0.0% * Entegris, Inc. 161,194 2,189,015 0.1% #* Entropic Communications, Inc. 96,873 242,182 0.0% * Envestnet, Inc. 3,782 167,996 0.0% #* EPAM Systems, Inc. 14,994 715,814 0.0% EPIQ Systems, Inc. 44,255 709,850 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) * ePlus, Inc. 8,798 $ 537,294 0.0% # Equinix, Inc. 3,982 831,840 0.0% * Euronet Worldwide, Inc. 48,710 2,614,266 0.1% * Exar Corp. 52,119 497,736 0.0% * ExlService Holdings, Inc. 22,179 620,790 0.0% #* Extreme Networks, Inc. 102,706 368,715 0.0% * F5 Networks, Inc. 3,400 418,132 0.0% * Fabrinet 37,604 684,769 0.0% # FactSet Research Systems, Inc. 3,768 495,266 0.0% Fair Isaac Corp. 29,958 1,866,383 0.1% #* Fairchild Semiconductor International, Inc. 183,728 2,820,225 0.1% * FalconStor Software, Inc. 29,232 33,032 0.0% * FARO Technologies, Inc. 11,514 644,784 0.0% FEI Co. 9,061 763,661 0.0% Fidelity National Information Services, Inc. 67,792 3,958,375 0.1% #* Finisar Corp. 71,998 1,203,807 0.0% #* First Solar, Inc. 50,102 2,951,008 0.1% * Fiserv, Inc. 24,452 1,698,925 0.1% FLIR Systems, Inc. 28,356 950,777 0.0% * FormFactor, Inc. 75,457 601,392 0.0% Forrester Research, Inc. 16,811 677,147 0.0% #* Freescale Semiconductor, Ltd. 8,279 164,669 0.0% * Frequency Electronics, Inc. 8,185 92,900 0.0% * Gartner, Inc. 8,459 682,726 0.0% * Genpact, Ltd. 33,003 579,203 0.0% * GigOptix, Inc. 3,278 4,097 0.0% * Global Cash Access Holdings, Inc. 103,620 755,390 0.0% Global Payments, Inc. 8,908 717,094 0.0% Globalscape, Inc. 2,198 5,451 0.0% * GSE Systems, Inc. 26,843 40,533 0.0% * GSI Group, Inc. 38,037 488,775 0.0% * GSI Technology, Inc. 17,271 83,074 0.0% * GTT Communications, Inc. 14,040 182,239 0.0% #* Guidance Software, Inc. 9,803 65,974 0.0% Hackett Group, Inc. (The) 41,738 292,583 0.0% #* Harmonic, Inc. 141,503 943,825 0.0% Harris Corp. 9,532 663,427 0.0% # Heartland Payment Systems, Inc. 13,540 699,341 0.0% Hewlett-Packard Co. 265,841 9,538,375 0.3% * HomeAway, Inc. 6,300 219,870 0.0% #* Hutchinson Technology, Inc. 49,218 175,708 0.0% # IAC/InterActiveCorp 39,333 2,662,451 0.1% * ID Systems, Inc. 11,992 89,940 0.0% * Identiv, Inc. 4,291 40,121 0.0% * IEC Electronics Corp. 7,468 36,967 0.0% * iGATE Corp. 29,212 1,082,305 0.0% * II-VI, Inc. 52,824 712,596 0.0% #* Imation Corp. 39,287 115,111 0.0% #* Immersion Corp. 21,510 181,114 0.0% #* Infinera Corp. 82,316 1,196,051 0.0% * Informatica Corp. 6,484 231,219 0.0% * Ingram Micro, Inc. Class A 161,659 4,338,928 0.1% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) * Innodata, Inc. 21,458 $ 56,649 0.0% * Inphi Corp. 23,122 357,929 0.0% * Insight Enterprises, Inc. 64,391 1,464,895 0.1% * Integrated Device Technology, Inc. 187,332 3,074,118 0.1% Integrated Silicon Solution, Inc. 43,251 587,349 0.0% Intel Corp. 534,019 18,161,986 0.5% #* Intellicheck Mobilisa, Inc. 287 1,076 0.0% #* Interactive Intelligence Group, Inc. 6,995 337,579 0.0% # InterDigital, Inc. 28,974 1,432,185 0.1% #* Internap Network Services Corp. 60,108 481,465 0.0% * International Rectifier Corp. 106,989 4,254,953 0.1% * Interphase Corp. 4,200 12,306 0.0% Intersil Corp. Class A 147,971 1,966,535 0.1% * inTEST Corp. 2,202 9,601 0.0% #* Intevac, Inc. 26,956 199,474 0.0% * IntraLinks Holdings, Inc. 26,655 230,299 0.0% * IntriCon Corp. 6,777 41,543 0.0% Intuit, Inc. 5,892 518,555 0.0% #* Inuvo, Inc. 3,127 4,190 0.0% #* IPG Photonics Corp. 9,261 679,850 0.0% * Iteris, Inc. 13,000 22,620 0.0% #* Itron, Inc. 37,293 1,451,816 0.1% * Ixia 55,569 535,129 0.0% # IXYS Corp. 48,330 564,011 0.0% # j2 Global, Inc. 36,351 1,966,226 0.1% Jabil Circuit, Inc. 159,346 3,338,299 0.1% Jack Henry & Associates, Inc. 10,749 643,005 0.0% * JDS Uniphase Corp. 156,551 2,107,176 0.1% Juniper Networks, Inc. 218,330 4,600,213 0.1% #* Kemet Corp. 49,217 236,242 0.0% * Key Tronic Corp. 11,045 90,790 0.0% KLA-Tencor Corp. 11,000 870,650 0.0% #* Knowles Corp. 13,768 267,925 0.0% * Kofax, Ltd. 8,658 54,978 0.0% #* Kopin Corp. 75,094 285,357 0.0% * Kulicke & Soffa Industries, Inc. 118,232 1,704,905 0.1% * KVH Industries, Inc. 18,537 239,498 0.0% Lam Research Corp. 27,049 2,106,035 0.1% * Lattice Semiconductor Corp. 128,936 865,161 0.0% Leidos Holdings, Inc. 41,090 1,502,661 0.1% # Lexmark International, Inc. Class A 73,659 3,179,122 0.1% * LGL Group, Inc. (The) 1,300 4,927 0.0% #* Limelight Networks, Inc. 132,023 322,136 0.0% Linear Technology Corp. 3,740 160,222 0.0% * Lionbridge Technologies, Inc. 38,881 187,795 0.0% #* Liquidity Services, Inc. 1,243 15,886 0.0% Littelfuse, Inc. 15,844 1,545,424 0.1% #* LoJack Corp. 26,126 73,675 0.0% #* M/A-COM Technology Solutions Holdings, Inc. 3,701 81,385 0.0% * Magnachip Semiconductor Corp. 41,376 460,515 0.0% * Manhattan Associates, Inc. 42,340 1,698,257 0.1% # ManTech International Corp. Class A 36,772 1,035,500 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) Marchex, Inc. Class B 28,607 $ 109,565 0.0% Marvell Technology Group, Ltd. 233,467 3,137,796 0.1% #* Mattersight Corp. 2,773 15,030 0.0% #* Mattson Technology, Inc. 44,480 118,317 0.0% Maxim Integrated Products, Inc. 16,551 485,606 0.0% MAXIMUS, Inc. 39,422 1,910,390 0.1% #* MaxLinear, Inc. Class A 7,390 52,395 0.0% #* Maxwell Technologies, Inc. 40,563 472,965 0.0% Mentor Graphics Corp. 128,718 2,727,534 0.1% * Mercury Systems, Inc. 46,887 655,480 0.0% # Mesa Laboratories, Inc. 2,992 228,499 0.0% Methode Electronics, Inc. 42,014 1,654,511 0.1% Micrel, Inc. 58,395 708,915 0.0% # Microchip Technology, Inc. 12,600 543,186 0.0% * Micron Technology, Inc. 569,578 18,847,336 0.6% * Microsemi Corp. 91,858 2,394,738 0.1% MKS Instruments, Inc. 75,273 2,739,937 0.1% MOCON, Inc. 7,200 111,096 0.0% #* ModusLink Global Solutions, Inc. 41,970 146,895 0.0% #* MoneyGram International, Inc. 3,779 32,499 0.0% Monolithic Power Systems, Inc. 31,902 1,409,749 0.1% # Monotype Imaging Holdings, Inc. 34,236 979,492 0.0% * Monster Worldwide, Inc. 123,526 476,810 0.0% #* MoSys, Inc. 34,527 92,878 0.0% Motorola Solutions, Inc. 14,945 963,952 0.0% * Move, Inc. 21,403 448,393 0.0% # MTS Systems Corp. 11,683 771,195 0.0% #* Multi-Fineline Electronix, Inc. 22,775 231,166 0.0% #* Nanometrics, Inc. 29,600 400,784 0.0% * NAPCO Security Technologies, Inc. 11,790 50,461 0.0% National Instruments Corp. 11,250 356,400 0.0% * NCI, Inc. Class A 7,471 76,055 0.0% * NCR Corp. 66,038 1,827,271 0.1% * NeoPhotonics Corp. 3,057 9,905 0.0% NetApp, Inc. 32,022 1,370,542 0.1% * NETGEAR, Inc. 49,314 1,678,649 0.1% * Netlist, Inc. 10,407 9,497 0.0% #* Netscout Systems, Inc. 26,955 993,561 0.0% #* NetSuite, Inc. 2,884 313,375 0.0% #* NeuStar, Inc. Class A 7,297 192,714 0.0% * Newport Corp. 53,527 957,598 0.0% NIC, Inc. 22,920 422,416 0.0% #* Novatel Wireless, Inc. 39,494 112,558 0.0% #* Nuance Communications, Inc. 138,720 2,140,450 0.1% #* Numerex Corp. Class A 5,996 78,188 0.0% NVIDIA Corp. 47,746 932,957 0.0% #* Oclaro, Inc. 74,291 116,637 0.0% * OmniVision Technologies, Inc. 64,775 1,734,674 0.1% * ON Semiconductor Corp. 121,520 1,007,401 0.0% #* Onvia, Inc. 700 3,052 0.0% Oplink Communications, Inc. 29,173 608,257 0.0% Optical Cable Corp. 6,626 30,745 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) Oracle Corp. 96,774 $ 3,779,025 0.1% * OSI Systems, Inc. 15,752 1,116,502 0.0% * Pandora Media, Inc. 1,300 25,064 0.0% * PAR Technology Corp. 12,088 62,120 0.0% # Park Electrochemical Corp. 22,637 584,035 0.0% #* Parkervision, Inc. 2,838 3,718 0.0% PC Connection, Inc. 28,622 682,635 0.0% PC-Tel, Inc. 23,419 180,326 0.0% * PCM, Inc. 14,990 144,803 0.0% * PDF Solutions, Inc. 21,746 282,046 0.0% Pegasystems, Inc. 18,502 400,938 0.0% Perceptron, Inc. 9,285 93,500 0.0% * Peregrine Semiconductor Corp. 4,177 51,920 0.0% * Perficient, Inc. 34,541 572,690 0.0% * Pericom Semiconductor Corp. 26,855 293,525 0.0% #* Photronics, Inc. 69,600 625,704 0.0% * Planar Systems, Inc. 24,955 90,337 0.0% Plantronics, Inc. 28,749 1,491,211 0.1% * Plexus Corp. 39,114 1,617,364 0.1% * PMC-Sierra, Inc. 217,500 1,694,325 0.1% * Polycom, Inc. 117,441 1,536,128 0.1% Power Integrations, Inc. 14,548 732,637 0.0% #* PRGX Global, Inc. 28,843 152,579 0.0% #* Procera Networks, Inc. 23,415 175,378 0.0% * Progress Software Corp. 45,735 1,184,536 0.0% * PTC, Inc. 13,187 503,084 0.0% QAD, Inc. Class A 8,223 176,877 0.0% QAD, Inc. Class B 2,342 43,327 0.0% * QLogic Corp. 99,091 1,170,265 0.0% QUALCOMM, Inc. 45,397 3,564,118 0.1% * Qualstar Corp. 6,493 7,986 0.0% #* Quantum Corp. 51,697 66,172 0.0% #* QuinStreet, Inc. 2,000 8,100 0.0% * Qumu Corp. 10,312 154,268 0.0% #* Rackspace Hosting, Inc. 13,033 499,946 0.0% * Radisys Corp. 33,213 83,032 0.0% #* Rambus, Inc. 64,753 741,422 0.0% * RealNetworks, Inc. 74,977 517,341 0.0% * Red Hat, Inc. 6,300 371,196 0.0% # Reis, Inc. 11,179 261,589 0.0% #* Relm Wireless Corp. 7,900 43,845 0.0% #* Remark Media, Inc. 844 4,085 0.0% RF Industries, Ltd. 7,730 35,171 0.0% #* RF Micro Devices, Inc. 250,701 3,261,620 0.1% Richardson Electronics, Ltd. 15,984 160,000 0.0% #* Rightside Group, Ltd. 4,858 46,005 0.0% * Riverbed Technology, Inc. 14,550 276,304 0.0% #* Rofin-Sinar Technologies, Inc. 35,996 805,950 0.0% * Rogers Corp. 16,423 1,122,840 0.0% #* Rosetta Stone, Inc. 23,564 225,507 0.0% * Rovi Corp. 83,484 1,743,146 0.1% #* Rubicon Technology, Inc. 18,870 83,594 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) * Rudolph Technologies, Inc. 43,348 $ 380,595 0.0% * Saba Software, Inc. 13,285 178,019 0.0% SanDisk Corp. 34,190 3,218,647 0.1% #* Sanmina Corp. 112,692 2,825,188 0.1% * Sapient Corp. 108,321 1,876,120 0.1% * ScanSource, Inc. 33,220 1,268,340 0.1% Science Applications International Corp. 17,783 869,767 0.0% #* Seachange International, Inc. 38,662 261,355 0.0% # Seagate Technology P.L.C. 23,709 1,489,636 0.1% * Selectica, Inc. 628 3,727 0.0% * Semtech Corp. 41,469 1,052,483 0.0% #* ServiceSource International, Inc. 3,531 13,488 0.0% #* Sevcon, Inc. 1,971 14,999 0.0% * ShoreTel, Inc. 50,584 409,225 0.0% #* Shutterstock, Inc. 6,356 494,243 0.0% * Sigma Designs, Inc. 47,276 188,631 0.0% #* Silicon Graphics International Corp. 14,772 128,221 0.0% * Silicon Image, Inc. 80,653 432,300 0.0% * Silicon Laboratories, Inc. 20,030 913,168 0.0% Skyworks Solutions, Inc. 27,122 1,579,585 0.1% #* Smith Micro Software, Inc. 25,090 24,588 0.0% * SMTC Corp. 4,872 8,575 0.0% * SolarWinds, Inc. 8,282 393,809 0.0% Solera Holdings, Inc. 6,600 342,870 0.0% #* Sonus Networks, Inc. 106,991 371,259 0.0% #* Spansion, Inc. Class A 62,265 1,281,414 0.1% #* Speed Commerce, Inc. 27,494 81,657 0.0% * SS&C Technologies Holdings, Inc. 42,332 2,045,482 0.1% * Stamps.com, Inc. 18,633 687,558 0.0% * StarTek, Inc. 15,566 117,056 0.0% #* Stratasys, Ltd. 14,377 1,730,416 0.1% #* SunEdison, Inc. 159,872 3,119,103 0.1% #* SunPower Corp. 119,789 3,814,082 0.1% * Super Micro Computer, Inc. 48,163 1,539,289 0.1% * support.com, Inc. 54,173 115,388 0.0% * Sykes Enterprises, Inc. 61,077 1,315,599 0.1% Symantec Corp. 77,843 1,932,063 0.1% * Synaptics, Inc. 21,683 1,483,768 0.1% #* Synchronoss Technologies, Inc. 21,969 1,135,138 0.0% # SYNNEX Corp. 55,957 3,871,105 0.1% * Synopsys, Inc. 18,273 748,828 0.0% * Syntel, Inc. 4,100 355,101 0.0% #* Take-Two Interactive Software, Inc. 168,208 4,449,102 0.1% TE Connectivity, Ltd. 29,720 1,816,784 0.1% * Tech Data Corp. 65,777 3,928,202 0.1% #* TechTarget, Inc. 4,884 46,593 0.0% * TeleCommunication Systems, Inc. Class A 66,950 192,816 0.0% #* Telenav, Inc. 56,453 407,591 0.0% * TeleTech Holdings, Inc. 37,550 969,165 0.0% Teradyne, Inc. 102,504 1,886,074 0.1% # Tessco Technologies, Inc. 10,869 345,091 0.0% Tessera Technologies, Inc. 58,211 1,769,032 0.1% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) TheStreet, Inc. 31,182 $ 71,407 0.0% * TIBCO Software, Inc. 10,754 251,321 0.0% #* TiVo, Inc. 34,277 447,315 0.0% Total System Services, Inc. 40,368 1,364,035 0.1% # Transact Technologies, Inc. 7,182 41,153 0.0% * Trimble Navigation, Ltd. 14,440 387,858 0.0% * Trio Tech International 2,616 10,072 0.0% * TriQuint Semiconductor, Inc. 184,523 3,991,232 0.1% * TSR, Inc. 722 2,368 0.0% #* TTM Technologies, Inc. 120,290 831,204 0.0% * Tyler Technologies, Inc. 8,902 996,312 0.0% #* Ultimate Software Group, Inc. (The) 2,149 323,446 0.0% * Ultra Clean Holdings, Inc. 25,665 225,339 0.0% #* Ultratech, Inc. 33,727 645,197 0.0% * Unisys Corp. 11,891 304,885 0.0% United Online, Inc. 15,283 171,475 0.0% * Universal Security Instruments, Inc. 1,213 7,521 0.0% #* Unwired Planet, Inc. 66,037 102,357 0.0% #* USA Technologies, Inc. 1,583 2,754 0.0% * UTStarcom Holdings Corp. 13,432 33,849 0.0% * Vantiv, Inc. Class A 9,606 297,018 0.0% #* Veeco Instruments, Inc. 46,639 1,678,538 0.1% * VeriFone Systems, Inc. 25,658 956,017 0.0% * Verint Systems, Inc. 17,396 1,000,096 0.0% #* VeriSign, Inc. 7,900 472,104 0.0% #* ViaSat, Inc. 24,715 1,548,148 0.1% * Viasystems Group, Inc. 17,945 284,787 0.0% Vicon Industries, Inc. 1,600 2,544 0.0% * Video Display Corp. 6,495 19,160 0.0% * Virtusa Corp. 20,744 850,089 0.0% Visa, Inc. Class A 29,003 7,002,194 0.2% # Vishay Intertechnology, Inc. 169,836 2,294,484 0.1% #* Vishay Precision Group, Inc. 17,886 303,883 0.0% #* VistaPrint NV 7,396 494,497 0.0% #* Vringo, Inc. 900 927 0.0% # Wayside Technology Group, Inc. 4,672 80,826 0.0% * Web.com Group, Inc. 29,853 612,882 0.0% #* WebMD Health Corp. 5,912 252,324 0.0% * Westell Technologies, Inc. Class A 54,239 72,680 0.0% Western Digital Corp. 48,113 4,732,876 0.2% * WEX, Inc. 15,860 1,801,062 0.1% * Xcerra Corp. 54,157 459,793 0.0% Xerox Corp. 731,469 9,713,908 0.3% Xilinx, Inc. 17,283 768,748 0.0% * XO Group, Inc. 34,724 442,037 0.0% * Yahoo!, Inc. 29,413 1,354,469 0.1% * Zebra Technologies Corp. Class A 18,164 1,339,595 0.1% #* Zix Corp. 38,049 125,562 0.0% #* Zynga, Inc. Class A 243,950 622,072 0.0% -------------------- ------------------ Total Information Technology 482,959,261 13.8% -------------------- ------------------ U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Materials -- (5.3%) # A Schulman, Inc. 33,647 $ 1,191,440 0.0% #* AEP Industries, Inc. 5,594 257,268 0.0% Air Products & Chemicals, Inc. 6,000 807,960 0.0% Airgas, Inc. 7,620 849,935 0.0% # Albemarle Corp. 22,844 1,333,633 0.1% Alcoa, Inc. 555,703 9,313,582 0.3% Allegheny Technologies, Inc. 102,088 3,353,591 0.1% #* Allied Nevada Gold Corp. 2,500 3,475 0.0% #* AM Castle & Co. 25,873 190,167 0.0% * American Biltrite, Inc. 22 9,790 0.0% # American Vanguard Corp. 28,100 324,274 0.0% Ampco-Pittsburgh Corp. 11,203 244,113 0.0% Aptargroup, Inc. 22,226 1,383,346 0.1% Ashland, Inc. 39,034 4,218,404 0.1% Avery Dennison Corp. 24,141 1,131,006 0.0% Axiall Corp. 81,673 3,291,422 0.1% # Balchem Corp. 9,282 600,545 0.0% Ball Corp. 12,700 818,261 0.0% Bemis Co., Inc. 49,227 1,893,763 0.1% * Berry Plastics Group, Inc. 15,553 404,689 0.0% * Boise Cascade Co. 6,734 242,828 0.0% Cabot Corp. 61,093 2,836,548 0.1% * Calgon Carbon Corp. 39,203 824,439 0.0% Carpenter Technology Corp. 32,342 1,618,717 0.1% Celanese Corp. Series A 17,767 1,043,456 0.0% * Century Aluminum Co. 125,243 3,667,115 0.1% CF Industries Holdings, Inc. 11,312 2,941,120 0.1% # Chase Corp. 8,818 316,302 0.0% #* Chemtura Corp. 112,467 2,619,356 0.1% * Clearwater Paper Corp. 22,678 1,459,329 0.1% # Cliffs Natural Resources, Inc. 139,862 1,570,650 0.1% #* Codexis, Inc. 15,600 39,936 0.0% #* Coeur Mining, Inc. 100,299 371,106 0.0% Commercial Metals Co. 195,487 3,379,970 0.1% Compass Minerals International, Inc. 7,797 668,047 0.0% * Contango ORE, Inc. 1,008 7,812 0.0% * Continental Materials Corp. 73 1,182 0.0% * Core Molding Technologies, Inc. 8,483 112,824 0.0% * Crown Holdings, Inc. 6,500 311,545 0.0% Cytec Industries, Inc. 89,328 4,165,365 0.1% # Deltic Timber Corp. 7,904 514,471 0.0% Domtar Corp. 77,364 3,177,339 0.1% Dow Chemical Co. (The) 89,475 4,420,065 0.1% Eagle Materials, Inc. 35,734 3,124,224 0.1% Eastman Chemical Co. 23,087 1,864,968 0.1% Ecolab, Inc. 9,795 1,089,498 0.0% EI du Pont de Nemours & Co. 24,100 1,666,515 0.1% * Ferro Corp. 105,984 1,390,510 0.1% #* Flotek Industries, Inc. 21,014 465,670 0.0% FMC Corp. 10,200 584,970 0.0% Freeport-McMoRan, Inc. 230,243 6,561,926 0.2% Friedman Industries, Inc. 10,403 79,479 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Materials -- (Continued) FutureFuel Corp. 53,069 $ 706,879 0.0% #* General Moly, Inc. 85,417 56,375 0.0% Globe Specialty Metals, Inc. 25,025 470,720 0.0% * Graphic Packaging Holding Co. 340,196 4,126,578 0.1% Greif, Inc. Class A 21,652 953,987 0.0% Greif, Inc. Class B 8,346 419,136 0.0% # Hawkins, Inc. 10,541 405,934 0.0% # Haynes International, Inc. 16,424 763,552 0.0% HB Fuller Co. 45,056 1,891,000 0.1% * Headwaters, Inc. 58,852 747,420 0.0% # Hecla Mining Co. 333,319 726,635 0.0% #* Horsehead Holding Corp. 63,431 996,501 0.0% Huntsman Corp. 140,029 3,416,708 0.1% Innophos Holdings, Inc. 20,709 1,180,413 0.0% Innospec, Inc. 20,047 809,297 0.0% International Flavors & Fragrances, Inc. 1,827 181,147 0.0% International Paper Co. 67,274 3,405,410 0.1% #* Intrepid Potash, Inc. 27,179 365,558 0.0% # Kaiser Aluminum Corp. 21,204 1,474,738 0.1% * KapStone Paper and Packaging Corp. 108,058 3,323,864 0.1% KMG Chemicals, Inc. 12,211 216,135 0.0% Koppers Holdings, Inc. 14,697 580,238 0.0% * Kraton Performance Polymers, Inc. 40,603 726,388 0.0% # Kronos Worldwide, Inc. 28,247 379,640 0.0% * Landec Corp. 39,561 498,073 0.0% #* Louisiana-Pacific Corp. 160,213 2,339,110 0.1% * LSB Industries, Inc. 25,678 963,695 0.0% LyondellBasell Industries NV Class A 11,014 1,009,213 0.0% # Martin Marietta Materials, Inc. 5,844 683,280 0.0% # Materion Corp. 32,148 1,268,239 0.0% #* McEwen Mining, Inc. 189,521 235,006 0.0% MeadWestvaco Corp. 99,011 4,373,316 0.1% * Mercer International, Inc. 63,379 797,308 0.0% Minerals Technologies, Inc. 36,350 2,788,409 0.1% #* Mines Management, Inc. 9,985 5,192 0.0% Mosaic Co. (The) 88,781 3,933,886 0.1% # Myers Industries, Inc. 50,234 750,496 0.0% Neenah Paper, Inc. 17,305 1,055,778 0.0% # NewMarket Corp. 1,500 582,015 0.0% Newmont Mining Corp. 194,708 3,652,722 0.1% Noranda Aluminum Holding Corp. 80,875 356,659 0.0% * Northern Technologies International Corp. 3,755 70,294 0.0% Nucor Corp. 30,101 1,627,260 0.1% # Olin Corp. 118,194 2,865,023 0.1% # Olympic Steel, Inc. 12,310 247,677 0.0% OM Group, Inc. 36,502 950,147 0.0% #* OMNOVA Solutions, Inc. 51,430 361,553 0.0% * Owens-Illinois, Inc. 50,757 1,308,008 0.0% Packaging Corp. of America 18,728 1,349,914 0.1% * Penford Corp. 11,940 225,069 0.0% PH Glatfelter Co. 47,126 1,188,989 0.0% PolyOne Corp. 58,142 2,151,835 0.1% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Materials -- (Continued) PPG Industries, Inc. 3,826 $ 779,318 0.0% Quaker Chemical Corp. 13,900 1,140,912 0.0% Reliance Steel & Aluminum Co. 82,935 5,596,454 0.2% #* Rentech, Inc. 182,957 290,902 0.0% * Resolute Forest Products, Inc. 25,207 467,842 0.0% Rock-Tenn Co. Class A 95,588 4,889,326 0.2% Rockwood Holdings, Inc. 35,031 2,694,234 0.1% # Royal Gold, Inc. 23,686 1,353,655 0.1% RPM International, Inc. 22,356 1,012,727 0.0% * RTI International Metals, Inc. 33,542 789,914 0.0% # Schnitzer Steel Industries, Inc. Class A 48,796 1,149,146 0.0% Schweitzer-Mauduit International, Inc. 31,776 1,368,275 0.1% Scotts Miracle-Gro Co. (The) Class A 5,967 353,485 0.0% Sealed Air Corp. 36,593 1,326,496 0.0% #* Senomyx, Inc. 18,977 150,298 0.0% Sensient Technologies Corp. 49,181 2,910,532 0.1% Sherwin-Williams Co. (The) 1,508 346,176 0.0% Sigma-Aldrich Corp. 6,719 913,179 0.0% Silgan Holdings, Inc. 13,206 649,207 0.0% Sonoco Products Co. 42,184 1,724,060 0.1% Steel Dynamics, Inc. 215,289 4,953,800 0.2% Stepan Co. 14,000 619,920 0.0% #* Stillwater Mining Co. 135,749 1,782,384 0.1% * SunCoke Energy, Inc. 94,807 2,265,887 0.1% Synalloy Corp. 8,022 129,555 0.0% TimkenSteel Corp. 9,988 405,313 0.0% * Trecora Resources 18,097 237,976 0.0% Tredegar Corp. 22,267 423,518 0.0% Tronox, Ltd. Class A 28,877 698,246 0.0% United States Lime & Minerals, Inc. 5,495 385,254 0.0% # United States Steel Corp. 141,607 5,669,944 0.2% #* Universal Stainless & Alloy Products, Inc. 8,514 218,895 0.0% # US Silica Holdings, Inc. 6,993 313,986 0.0% # Valhi, Inc. 17,490 103,541 0.0% Valspar Corp. (The) 18,693 1,535,817 0.1% #* Verso Paper Corp. 1,365 3,959 0.0% Vulcan Materials Co. 28,864 1,781,197 0.1% # Walter Energy, Inc. 61,308 147,752 0.0% # Wausau Paper Corp. 55,527 549,162 0.0% # Westlake Chemical Corp. 93,376 6,587,677 0.2% Worthington Industries, Inc. 59,393 2,295,539 0.1% * WR Grace & Co. 7,182 679,417 0.0% Zep, Inc. 24,727 397,116 0.0% -------------------- ------------------ Total Materials 212,812,358 6.1% -------------------- ------------------ Other -- (0.0%) (Degree)* Brooklyn Federal Bancorp, Inc. Escrow Shares 6,039 -- 0.0% (Degree)* FRD Acquisition Co. Escrow Shares 14,091 -- 0.0% (Degree)* Gerber Scientific, Inc. Escrow Shares 24,204 -- 0.0% (Degree)* Softbrands, Inc. Escrow Shares 5,800 -- 0.0% -------------------- ------------------ Total Other -- 0.0% -------------------- ------------------ U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Real Estate Investment Trusts -- (0.0%) * CareTrust REIT, Inc. 21,332 $ 331,286 0.0% -------------------- ------------------ Telecommunication Services -- (2.4%) #* Alaska Communications Systems Group, Inc. 5,797 7,826 0.0% #* Alteva 5,727 40,662 0.0% AT&T, Inc. 1,356,088 47,246,106 1.4% Atlantic Tele-Network, Inc. 16,863 1,133,025 0.1% #* Boingo Wireless, Inc. 5,989 41,983 0.0% CenturyLink, Inc. 120,422 4,995,104 0.2% #* Cincinnati Bell, Inc. 119,766 439,541 0.0% Cogent Communications Holdings, Inc. 16,498 559,942 0.0% # Consolidated Communications Holdings, Inc. 52,561 1,361,330 0.1% # Frontier Communications Corp. 1,416,600 9,264,564 0.3% * General Communication, Inc. Class A 62,176 729,324 0.0% #* Hawaiian Telcom Holdco, Inc. 2,120 57,028 0.0% * HC2 Holdings, Inc. 3,645 19,318 0.0% IDT Corp. Class B 25,636 422,481 0.0% Inteliquent, Inc. 61,946 1,042,551 0.0% #* Intelsat SA 7,497 145,892 0.0% #* Iridium Communications, Inc. 78,908 749,626 0.0% #* Level 3 Communications, Inc. 11,404 534,962 0.0% Lumos Networks Corp. 19,200 330,240 0.0% # NTELOS Holdings Corp. 10,981 110,688 0.0% * ORBCOMM, Inc. 63,383 400,581 0.0% * Premiere Global Services, Inc. 68,015 712,117 0.0% * SBA Communications Corp. Class A 3,000 336,990 0.0% # Shenandoah Telecommunications Co. 28,659 848,020 0.0% Spok Holdings, Inc. 27,937 453,697 0.0% #* Sprint Corp. 101,857 604,012 0.0% * Straight Path Communications, Inc. Class B 9,503 205,265 0.0% * T-Mobile US, Inc. 31,130 908,685 0.0% Telephone & Data Systems, Inc. 124,784 3,199,462 0.1% * tw telecom, Inc. 6,182 264,466 0.0% * United States Cellular Corp. 27,886 1,015,608 0.0% Verizon Communications, Inc. 259,639 13,046,860 0.4% * Vonage Holdings Corp. 263,850 918,198 0.0% Windstream Holdings, Inc. 296,547 3,107,812 0.1% -------------------- ------------------ Total Telecommunication Services 95,253,966 2.7% -------------------- ------------------ Utilities -- (1.1%) AES Corp. 113,299 1,594,117 0.1% AGL Resources, Inc. 10,844 584,600 0.0% ALLETE, Inc. 16,856 880,557 0.0% Alliant Energy Corp. 53 3,281 0.0% American States Water Co. 13,253 474,192 0.0% Aqua America, Inc. 15,408 403,690 0.0% # Artesian Resources Corp. Class A 2,239 49,863 0.0% Atmos Energy Corp. 8,788 465,764 0.0% # Avista Corp. 22,079 782,701 0.0% Black Hills Corp. 16,964 928,440 0.1% #* Cadiz, Inc. 2,750 27,390 0.0% California Water Service Group 16,650 433,399 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Utilities -- (Continued) * Calpine Corp. 62,871 $ 1,434,716 0.1% # Chesapeake Utilities Corp. 7,818 378,626 0.0% Cleco Corp. 7,349 395,082 0.0% CMS Energy Corp. 17,300 565,191 0.0% # Connecticut Water Service, Inc. 5,049 187,671 0.0% # Consolidated Water Co., Ltd. 17,333 207,823 0.0% Delta Natural Gas Co., Inc. 1,858 38,498 0.0% * Dynegy, Inc. 79,799 2,433,869 0.1% El Paso Electric Co. 14,715 556,816 0.0% Empire District Electric Co. (The) 14,320 407,261 0.0% Gas Natural, Inc. 3,260 37,001 0.0% #* Genie Energy, Ltd. Class B 22,104 160,254 0.0% # Great Plains Energy, Inc. 24,561 661,428 0.0% # Hawaiian Electric Industries, Inc. 23,207 653,509 0.0% IDACORP, Inc. 19,560 1,236,779 0.1% Integrys Energy Group, Inc. 7,049 512,321 0.0% ITC Holdings Corp. 14,352 568,483 0.0% # Laclede Group, Inc. (The) 12,221 620,460 0.0% MDU Resources Group, Inc. 6,672 188,017 0.0% # MGE Energy, Inc. 10,134 450,659 0.0% # Middlesex Water Co. 8,885 200,357 0.0% # National Fuel Gas Co. 2,800 193,844 0.0% # New Jersey Resources Corp. 14,953 874,451 0.0% # Northeast Utilities 15,733 776,424 0.0% # Northwest Natural Gas Co. 6,831 320,579 0.0% NorthWestern Corp. 15,687 828,901 0.0% NRG Energy, Inc. 150,120 4,500,598 0.2% OGE Energy Corp. 10,600 395,274 0.0% # ONE Gas, Inc. 17,131 650,121 0.0% # Ormat Technologies, Inc. 39,085 1,131,511 0.1% # Otter Tail Corp. 9,700 300,700 0.0% Pepco Holdings, Inc. 1,371 37,483 0.0% Piedmont Natural Gas Co., Inc. 9,001 342,128 0.0% Pinnacle West Capital Corp. 7,400 454,878 0.0% # PNM Resources, Inc. 29,970 864,634 0.0% # Portland General Electric Co. 27,198 990,279 0.1% Questar Corp. 32,130 774,654 0.0% RGC Resources, Inc. 400 8,096 0.0% # SJW Corp. 18,956 605,834 0.0% South Jersey Industries, Inc. 11,358 666,033 0.0% Southwest Gas Corp. 17,466 1,014,600 0.1% TECO Energy, Inc. 20,582 403,613 0.0% UGI Corp. 220,072 8,294,514 0.3% UIL Holdings Corp. 17,018 700,121 0.0% Unitil Corp. 7,713 268,721 0.0% Vectren Corp. 12,520 562,774 0.0% # Westar Energy, Inc. 13,346 504,612 0.0% # WGL Holdings, Inc. 17,896 841,112 0.0% U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Utilities -- (Continued) # York Water Co. 4,729 $ 103,943 0.0% -------------------- ------------------ Total Utilities 45,933,247 1.3% -------------------- ------------------ TOTAL COMMON STOCKS 3,483,638,792 99.5% -------------------- ------------------ RIGHTS/WARRANTS -- (0.0%) (Degree)* Capital Bank Corp. Contingent Value Rights 2,758 -- 0.0% (Degree)* Community Health Systems, Inc. Rights 01/04/16 21,176 633 0.0% (Degree)* Leap Wireless International, Inc. Contingent Value Rights 39,583 99,749 0.0% (Degree)* LGL Group, Inc. (The) Warrants 08/06/18 6,500 130 0.0% (Degree)#* Magnum Hunter Resources Corp. Warrants 04/15/16 15,504 -- 0.0% (Degree)#* PhotoMedex, Inc. Contingent Value Warrants 12/13/14 339 -- 0.0% (Degree)#* Sears Holdings Corp. Rights 11/07/14 40,701 977 0.0% (Degree)* Tejon Ranch Co. Warrants 08/31/16 2,579 5,416 0.0% -------------------- ------------------ TOTAL RIGHTS/WARRANTS 106,905 0.0% -------------------- ------------------ TEMPORARY CASH INVESTMENTS -- (0.6%) State Street Institutional Liquid Reserves, 0.077% 24,721,165 24,721,165 0.7% -------------------- ------------------ SECURITIES LENDING COLLATERAL -- (12.9%) (S)@ DFA Short Term Investment Fund 44,982,839 520,451,452 14.9% -------------------- ------------------ TOTAL INVESTMENTS -- (100.0%) (Cost $2,903,882,897) $ 4,028,918,314 115.1% ==================== ================== U.S. VECTOR EQUITY PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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 $ 488,910,404 -- -- $ 488,910,404 Consumer Staples 153,512,640 -- -- 153,512,640 Energy 387,872,130 -- -- 387,872,130 Financials 817,520,648 $ 8,267 -- 817,528,915 Health Care 284,498,197 81,257 -- 284,579,454 Industrials 513,944,646 485 -- 513,945,131 Information Technology 482,959,261 -- -- 482,959,261 Materials 212,812,358 -- -- 212,812,358 Other -- -- -- -- Real Estate Investment Trusts 331,286 -- -- 331,286 Telecommunication Services 95,253,966 -- -- 95,253,966 Utilities 45,933,247 -- -- 45,933,247 Rights/Warrants -- 106,905 -- 106,905 Temporary Cash Investments 24,721,165 -- -- 24,721,165 Securities Lending Collateral -- 520,451,452 -- 520,451,452 --------------------- -------------------- -------------------- ---------------------- TOTAL $ 3,508,269,948 $ 520,648,366 -- $ 4,028,918,314 ===================== ==================== ==================== ====================== U.S. SMALL CAP PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2014 PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- COMMON STOCKS -- (80.3%) Consumer Discretionary -- (13.7%) * 1-800-Flowers.com, Inc. Class A 193,999 $ 1,557,812 0.0% Aaron's, Inc. 445,244 11,024,241 0.1% # Abercrombie & Fitch Co. Class A 357,997 11,985,740 0.1% #* Aeropostale, Inc. 446,342 1,343,489 0.0% * AG&E Holdings, Inc. 33,182 37,496 0.0% AH Belo Corp. Class A 96,656 1,112,511 0.0% * Ambassadors Group, Inc. 59,882 212,581 0.0% AMCON Distributing Co. 2,169 177,815 0.0% #* America's Car-Mart, Inc. 49,500 2,276,010 0.0% * American Axle & Manufacturing Holdings, Inc. 539,417 10,426,931 0.1% # American Eagle Outfitters, Inc. 626,468 8,062,643 0.1% #* American Public Education, Inc. 113,727 3,524,400 0.1% * ANN, Inc. 360,334 13,833,222 0.2% * Apollo Education Group, Inc. Class A 339,044 9,717,001 0.1% Arctic Cat, Inc. 86,433 2,909,335 0.0% Ark Restaurants Corp. 17,030 375,341 0.0% * Asbury Automotive Group, Inc. 226,135 15,838,495 0.2% * Ascena Retail Group, Inc. 24,329 302,896 0.0% #* Ascent Capital Group, Inc. Class A 69,671 4,479,845 0.1% * Ballantyne Strong, Inc. 61,400 275,686 0.0% * Bally Technologies, Inc. 257,968 20,740,627 0.2% * Barnes & Noble, Inc. 419,455 9,152,508 0.1% Bassett Furniture Industries, Inc. 149,390 2,596,398 0.0% Beasley Broadcasting Group, Inc. Class A 68,353 321,259 0.0% #* Beazer Homes USA, Inc. 58,798 1,054,248 0.0% # bebe stores, Inc. 469,574 1,075,324 0.0% * Belmond, Ltd. Class A 587,157 6,728,819 0.1% #* BFC Financial Corp. Class A 48,033 182,525 0.0% # Big 5 Sporting Goods Corp. 143,194 1,762,718 0.0% Big Lots, Inc. 424,371 19,372,536 0.2% * Biglari Holdings, Inc. 10,414 3,636,152 0.1% #* BJ's Restaurants, Inc. 205,611 9,050,996 0.1% #* Black Diamond, Inc. 30,200 234,352 0.0% * Bloomin' Brands, Inc. 232,168 4,390,297 0.1% #* Blue Nile, Inc. 75,280 2,672,440 0.0% # Blyth, Inc. 86,532 726,003 0.0% # Bob Evans Farms, Inc. 162,253 7,926,059 0.1% # Bon-Ton Stores, Inc. (The) 121,759 1,072,697 0.0% #* Books-A-Million, Inc. 45,236 65,592 0.0% Bowl America, Inc. Class A 10,705 155,222 0.0% #* Boyd Gaming Corp. 216,777 2,503,774 0.0% #* Bravo Brio Restaurant Group, Inc. 109,916 1,524,535 0.0% #* Bridgepoint Education, Inc. 254,484 3,216,678 0.0% #* Bright Horizons Family Solutions, Inc. 67,410 3,003,790 0.0% Brinker International, Inc. 379,132 20,336,640 0.2% Brown Shoe Co., Inc. 303,420 8,067,938 0.1% # Buckle, Inc. (The) 256,014 12,629,171 0.1% #* Buffalo Wild Wings, Inc. 162,131 24,202,916 0.3% * Build-A-Bear Workshop, Inc. 109,802 1,861,144 0.0% #* Cache, Inc. 24,950 14,097 0.0% #* Caesars Entertainment Corp. 27,968 340,930 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) # Callaway Golf Co. 515,745 $ 4,043,441 0.1% #* Cambium Learning Group, Inc. 118,479 181,273 0.0% * Canterbury Park Holding Corp. 12,913 123,319 0.0% # Capella Education Co. 81,827 5,788,442 0.1% * Career Education Corp. 435,338 2,524,960 0.0% * Carmike Cinemas, Inc. 162,371 5,203,991 0.1% # Carriage Services, Inc. 142,127 2,836,855 0.0% * Carrols Restaurant Group, Inc. 213,300 1,644,543 0.0% # Cato Corp. (The) Class A 181,762 6,483,451 0.1% #* Cavco Industries, Inc. 44,616 3,251,168 0.0% #* Central European Media Enterprises, Ltd. Class A 66,131 160,698 0.0% #* Charles & Colvard, Ltd. 89,032 259,083 0.0% # Cheesecake Factory, Inc. (The) 403,750 18,548,275 0.2% Cherokee, Inc. 44,881 784,520 0.0% Chico's FAS, Inc. 1,158,170 17,465,204 0.2% # Children's Place, Inc. (The) 123,249 6,070,013 0.1% # Choice Hotels International, Inc. 136,884 7,323,294 0.1% * Christopher & Banks Corp. 223,013 1,456,275 0.0% Churchill Downs, Inc. 105,584 10,767,456 0.1% #* Chuy's Holdings, Inc. 66,039 1,975,226 0.0% #* Cinedigm Corp. 543,743 842,802 0.0% * Citi Trends, Inc. 94,281 2,135,465 0.0% Clear Channel Outdoor Holdings, Inc. Class A 19,006 137,984 0.0% ClubCorp Holdings, Inc. 7,353 140,148 0.0% * Coast Distribution System, Inc. (The) 43,930 135,963 0.0% Collectors Universe, Inc. 56,999 1,402,175 0.0% Columbia Sportswear Co. 323,245 12,457,862 0.1% #* Conn's, Inc. 244,145 7,595,351 0.1% Cooper Tire & Rubber Co. 418,366 13,475,569 0.2% * Cooper-Standard Holding, Inc. 1,350 73,683 0.0% Core-Mark Holding Co., Inc. 153,910 8,931,397 0.1% # Cracker Barrel Old Country Store, Inc. 167,559 19,327,931 0.2% * Crocs, Inc. 595,331 6,953,466 0.1% #* Crown Media Holdings, Inc. Class A 65,562 228,811 0.0% CSS Industries, Inc. 27,255 778,403 0.0% CST Brands, Inc. 532,474 20,367,130 0.2% Culp, Inc. 48,662 923,118 0.0% #* Cumulus Media, Inc. Class A 986,536 3,808,029 0.1% #* Daily Journal Corp. 200 36,530 0.0% # Dana Holding Corp. 386,003 7,897,621 0.1% #* Deckers Outdoor Corp. 257,054 22,481,943 0.3% * Del Frisco's Restaurant Group, Inc. 131,838 3,061,278 0.0% #* Delta Apparel, Inc. 15,317 160,828 0.0% Destination Maternity Corp. 52,398 784,922 0.0% #* Destination XL Group, Inc. 280,623 1,470,465 0.0% DeVry Education Group, Inc. 412,952 19,991,006 0.2% * Dex Media, Inc. 800 6,232 0.0% * DGSE Cos., Inc. 5,479 6,301 0.0% DineEquity, Inc. 138,051 12,281,017 0.1% #* Dixie Group, Inc. (The) 107,711 848,763 0.0% #* Dorman Products, Inc. 212,413 9,847,467 0.1% * Dover Downs Gaming & Entertainment, Inc. 44,469 33,352 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) Dover Motorsports, Inc. 56,312 $ 134,304 0.0% #* DreamWorks Animation SKG, Inc. Class A 148,721 3,313,504 0.0% Drew Industries, Inc. 155,031 7,450,790 0.1% DSW, Inc. Class A 63,995 1,897,452 0.0% Educational Development Corp. 15,090 65,943 0.0% Einstein Noah Restaurant Group, Inc. 169,440 3,431,160 0.0% * Eldorado Resorts, Inc. 44,611 183,797 0.0% * ELXSI Corp. 1,800 20,925 0.0% Emerson Radio Corp. 197,300 224,922 0.0% * Emmis Communications Corp. Class A 124,034 270,394 0.0% #* Empire Resorts, Inc. 23,860 178,711 0.0% #* Entercom Communications Corp. Class A 115,542 1,187,772 0.0% # Entravision Communications Corp. Class A 431,012 2,224,022 0.0% Escalade, Inc. 40,814 466,912 0.0% # Ethan Allen Interiors, Inc. 190,944 5,403,715 0.1% #* EW Scripps Co. (The) Class A 286,317 5,497,286 0.1% * Express, Inc. 544,739 8,154,743 0.1% #* Famous Dave's Of America, Inc. 38,546 1,004,894 0.0% #* Federal-Mogul Holdings Corp. 230,721 3,601,555 0.1% #* Fiesta Restaurant Group, Inc. 193,499 10,671,470 0.1% Finish Line, Inc. (The) Class A 371,789 9,841,255 0.1% #* Five Below, Inc. 319,398 12,734,398 0.2% * Flanigan's Enterprises, Inc. 5,380 107,600 0.0% Flexsteel Industries, Inc. 31,621 1,084,916 0.0% * Fox Factory Holding Corp. 875 14,822 0.0% * Francesca's Holdings Corp. 2,088 24,868 0.0% # Fred's, Inc. Class A 202,125 3,173,362 0.0% Frisch's Restaurants, Inc. 20,810 534,401 0.0% #* FTD Cos., Inc. 127,607 4,489,214 0.1% #* Fuel Systems Solutions, Inc. 86,650 799,779 0.0% * Full House Resorts, Inc. 32,641 42,107 0.0% #* G-III Apparel Group, Ltd. 154,630 12,269,890 0.1% * Gaiam, Inc. Class A 57,070 432,020 0.0% * Gaming Partners International Corp. 8,434 70,761 0.0% #* Geeknet, Inc. 12,204 118,257 0.0% #* Genesco, Inc. 171,682 13,166,293 0.2% * Gentherm, Inc. 252,090 10,512,153 0.1% #* Gordmans Stores, Inc. 40,554 127,745 0.0% * Grand Canyon Education, Inc. 309,742 14,836,642 0.2% #* Gray Television, Inc. 355,440 3,284,266 0.0% * Gray Television, Inc. Class A 25,939 191,949 0.0% # Group 1 Automotive, Inc. 174,166 14,879,001 0.2% Guess?, Inc. 474,832 10,527,025 0.1% #* Hampshire Group, Ltd. 8,000 19,440 0.0% Harte-Hanks, Inc. 310,857 2,023,679 0.0% Haverty Furniture Cos., Inc. 128,024 2,817,808 0.0% Haverty Furniture Cos., Inc. Class A 3,785 83,194 0.0% * Helen of Troy, Ltd. 179,336 11,091,932 0.1% * Here Media, Inc. 22,918 2 0.0% (Degree)* Here Media, Inc. Special Shares 22,918 2 0.0% #* hhgregg, Inc. 155,532 805,656 0.0% #* Hibbett Sports, Inc. 105,445 4,786,149 0.1% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) Hooker Furniture Corp. 51,878 $ 793,215 0.0% #* Hovnanian Enterprises, Inc. Class A 98,754 371,315 0.0% # HSN, Inc. 186,219 12,303,489 0.1% #* Iconix Brand Group, Inc. 343,594 13,747,196 0.2% #* Ignite Restaurant Group, Inc. 8,497 58,544 0.0% * Insignia Systems, Inc. 15,351 49,123 0.0% International Speedway Corp. Class A 170,414 5,339,071 0.1% # Interval Leisure Group, Inc. 364,461 7,668,259 0.1% #* iRobot Corp. 172,880 6,175,274 0.1% * Isle of Capri Casinos, Inc. 121,810 905,048 0.0% #* ITT Educational Services, Inc. 105,162 1,063,188 0.0% Jack in the Box, Inc. 308,443 21,911,791 0.2% * Jaclyn, Inc. 2,235 10,784 0.0% #* JAKKS Pacific, Inc. 62,792 400,613 0.0% #* Jamba, Inc. 105,162 1,403,913 0.0% #* JC Penney Co., Inc. 244,117 1,857,730 0.0% John Wiley & Sons, Inc. Class A 13,586 793,287 0.0% Johnson Outdoors, Inc. Class A 27,333 821,357 0.0% * Journal Communications, Inc. Class A 286,844 2,813,940 0.0% * K12, Inc. 161,968 2,008,403 0.0% #* Kate Spade & Co. 101,301 2,748,296 0.0% # KB Home 693,994 10,923,466 0.1% #* Kirkland's, Inc. 118,393 2,107,395 0.0% * Kona Grill, Inc. 61,689 1,389,853 0.0% Koss Corp. 25,262 35,872 0.0% #* Krispy Kreme Doughnuts, Inc. 454,765 8,604,154 0.1% La-Z-Boy, Inc. 342,262 7,824,109 0.1% #* Lakeland Industries, Inc. 22,928 323,285 0.0% * Lazare Kaplan International, Inc. 9,600 15,552 0.0% * LeapFrog Enterprises, Inc. 336,668 1,791,074 0.0% * Learning Tree International, Inc. 40,081 99,401 0.0% * Libbey, Inc. 206,020 5,923,075 0.1% * Liberty Media Corp. Class B 522 24,445 0.0% * Liberty Tax, Inc. 9,759 369,769 0.0% * Liberty Ventures Series A 98,486 3,456,859 0.1% #* Life Time Fitness, Inc. 286,568 15,981,897 0.2% # Lifetime Brands, Inc. 64,484 1,103,321 0.0% * LIN Media LLC Class A 25,689 614,738 0.0% # Lincoln Educational Services Corp. 75,737 200,703 0.0% Lithia Motors, Inc. Class A 169,105 13,125,930 0.2% * Live Nation Entertainment, Inc. 568,208 14,773,408 0.2% * Loral Space & Communications, Inc. 100,366 7,677,999 0.1% * Luby's, Inc. 245,262 1,223,857 0.0% #* Lumber Liquidators Holdings, Inc. 63,274 3,402,243 0.0% * M/I Homes, Inc. 143,930 3,100,252 0.0% Marcus Corp. (The) 86,567 1,482,893 0.0% # Marine Products Corp. 125,265 1,057,237 0.0% #* MarineMax, Inc. 170,161 3,261,986 0.0% Marriott Vacations Worldwide Corp. 195,788 13,595,519 0.2% #* Martha Stewart Living Omnimedia, Inc. Class A 169,810 735,277 0.0% #* Mattress Firm Holding Corp. 2,624 165,811 0.0% * McClatchy Co. (The) Class A 256,576 913,411 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) McRae Industries, Inc. Class A 2,500 $ 76,000 0.0% # MDC Holdings, Inc. 333,034 8,132,690 0.1% #* Media General, Inc. Class A 100,663 1,503,905 0.0% # Men's Wearhouse, Inc. (The) 381,140 17,925,014 0.2% # Meredith Corp. 241,747 12,604,689 0.1% #* Meritage Homes Corp. 188,419 6,931,935 0.1% * Modine Manufacturing Co. 306,666 3,934,525 0.1% * Monarch Casino & Resort, Inc. 77,833 1,266,343 0.0% # Monro Muffler Brake, Inc. 214,120 11,442,573 0.1% Morningstar, Inc. 3,171 216,421 0.0% * Motorcar Parts of America, Inc. 95,939 2,786,069 0.0% Movado Group, Inc. 120,549 4,255,380 0.1% * Multimedia Games Holding Co., Inc. 97,834 3,414,407 0.0% * Murphy USA, Inc. 228,490 13,092,477 0.2% # NACCO Industries, Inc. Class A 33,141 1,941,068 0.0% #* Nathan's Famous, Inc. 20,650 1,484,322 0.0% National CineMedia, Inc. 396,104 6,298,054 0.1% * Nautilus, Inc. 226,160 3,026,021 0.0% * New York & Co., Inc. 380,682 1,244,830 0.0% # New York Times Co. (The) Class A 967,822 12,426,834 0.1% # Nexstar Broadcasting Group, Inc. Class A 211,914 9,561,560 0.1% * Nobility Homes, Inc. 13,083 143,586 0.0% Nutrisystem, Inc. 209,999 3,536,383 0.1% #* Office Depot, Inc. 3,809,109 19,883,549 0.2% * Orbitz Worldwide, Inc. 779,333 6,445,084 0.1% #* Outerwall, Inc. 159,211 10,073,280 0.1% #* Overstock.com, Inc. 103,482 2,392,504 0.0% Oxford Industries, Inc. 104,091 6,375,574 0.1% #* P&F Industries, Inc. Class A 10,000 79,900 0.0% #* Pacific Sunwear of California, Inc. 226,616 344,456 0.0% Papa John's International, Inc. 271,459 12,693,423 0.1% * Penn National Gaming, Inc. 357,402 4,678,392 0.1% Penske Automotive Group, Inc. 337,541 15,270,355 0.2% * Pep Boys-Manny, Moe & Jack (The) 326,501 3,111,555 0.0% * Perfumania Holdings, Inc. 15,984 98,302 0.0% #* Perry Ellis International, Inc. 77,609 1,587,104 0.0% # PetMed Express, Inc. 98,009 1,294,699 0.0% # Pier 1 Imports, Inc. 641,193 8,271,390 0.1% #* Pinnacle Entertainment, Inc. 220,582 5,653,517 0.1% #* Pizza Inn Holdings, Inc. 8,932 58,505 0.0% # Pool Corp. 313,938 18,742,099 0.2% * Popeyes Louisiana Kitchen, Inc. 162,905 7,550,647 0.1% * QEP Co., Inc. 9,614 168,678 0.0% #* Quantum Fuel Systems Technologies Worldwide, Inc. 1,524 6,066 0.0% #* Quiksilver, Inc. 582,084 1,018,647 0.0% #* Radio One, Inc. Class D 932,814 2,322,707 0.0% #* RadioShack Corp. 214,951 197,755 0.0% * RCI Hospitality Holdings, Inc. 60,688 722,187 0.0% #* ReachLocal, Inc. 6,488 29,391 0.0% #* Reading International, Inc. Class A 22,403 223,358 0.0% * Reading International, Inc. Class B 2,710 29,810 0.0% * Red Lion Hotels Corp. 102,237 579,684 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) #* Red Robin Gourmet Burgers, Inc. 98,287 $ 5,402,836 0.1% # Regal Entertainment Group Class A 632,580 14,011,647 0.2% Regis Corp. 339,175 5,759,191 0.1% # Remy International, Inc. 571 10,552 0.0% # Rent-A-Center, Inc. 356,506 11,040,991 0.1% #* Rentrak Corp. 27,336 2,101,318 0.0% #* Restoration Hardware Holdings, Inc. 28,868 2,318,678 0.0% Rocky Brands, Inc. 94,670 1,243,964 0.0% #* Ruby Tuesday, Inc. 375,236 2,881,812 0.0% Ruth's Hospitality Group, Inc. 243,859 2,967,764 0.0% # Ryland Group, Inc. (The) 270,752 9,695,629 0.1% # Saga Communications, Inc. Class A 18,609 746,221 0.0% # Salem Communications Corp. Class A 132,841 1,024,204 0.0% # Scholastic Corp. 109,412 3,808,632 0.1% #* Scientific Games Corp. Class A 530,070 6,238,924 0.1% # SeaWorld Entertainment, Inc. 142,843 2,748,299 0.0% #* Select Comfort Corp. 414,177 10,640,207 0.1% #* Shiloh Industries, Inc. 208,939 3,560,321 0.1% # Shoe Carnival, Inc. 112,698 2,073,643 0.0% #* Shutterfly, Inc. 265,946 11,124,521 0.1% # Sinclair Broadcast Group, Inc. Class A 470,204 13,659,426 0.2% * Sizmek, Inc. 166,660 954,962 0.0% * Skechers U.S.A., Inc. Class A 302,526 16,563,298 0.2% * Skullcandy, Inc. 152,478 1,271,667 0.0% #* Skyline Corp. 45,820 167,701 0.0% #* Smith & Wesson Holding Corp. 5,755 58,471 0.0% Sonic Automotive, Inc. Class A 278,498 6,931,815 0.1% #* Sonic Corp. 412,472 10,398,419 0.1% # Sotheby's 166,881 6,618,500 0.1% * Spanish Broadcasting System, Inc. Class A 43,707 176,139 0.0% Spartan Motors, Inc. 142,240 809,346 0.0% #* Spectrum Group International, Inc. 85 45,262 0.0% # Speedway Motorsports, Inc. 130,167 2,547,368 0.0% Stage Stores, Inc. 194,761 3,285,618 0.0% Standard Motor Products, Inc. 153,709 6,074,580 0.1% #* Standard Pacific Corp. 567,784 4,201,602 0.1% * Stanley Furniture Co., Inc. 35,155 101,949 0.0% * Starz Class B 1,444 44,555 0.0% # Stein Mart, Inc. 215,658 2,885,504 0.0% * Steiner Leisure, Ltd. 70,583 2,977,191 0.0% * Steven Madden, Ltd. 479,062 15,018,594 0.2% * Stoneridge, Inc. 167,794 2,179,644 0.0% Strattec Security Corp. 16,395 1,700,489 0.0% * Strayer Education, Inc. 68,621 5,022,371 0.1% # Sturm Ruger & Co., Inc. 96,306 4,014,034 0.1% Superior Industries International, Inc. 146,928 2,866,565 0.0% Superior Uniform Group, Inc. 14,085 338,040 0.0% Sypris Solutions, Inc. 285,243 972,679 0.0% #* Systemax, Inc. 125,922 1,926,607 0.0% Tandy Leather Factory, Inc. 41,183 380,531 0.0% * Taylor Morrison Home Corp. Class A 150,871 2,601,016 0.0% * Tempur Sealy International, Inc. 271,532 14,293,444 0.2% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) * Tenneco, Inc. 106,771 $ 5,590,530 0.1% # Texas Roadhouse, Inc. 509,537 14,710,333 0.2% # Thor Industries, Inc. 338,591 17,908,078 0.2% #* Tile Shop Holdings, Inc. 23,410 201,560 0.0% * Time, Inc. 51,780 1,169,710 0.0% * Tower International, Inc. 134,518 3,268,787 0.0% # Town Sports International Holdings, Inc. 122,599 725,786 0.0% # Trans World Entertainment Corp. 452,232 1,492,366 0.0% #* Tuesday Morning Corp. 159,005 3,242,112 0.0% #* Tumi Holdings, Inc. 224,941 4,672,025 0.1% * Unifi, Inc. 122,873 3,436,758 0.0% #* Universal Electronics, Inc. 109,452 6,226,724 0.1% Universal Technical Institute, Inc. 104,935 1,249,776 0.0% #* UQM Technologies, Inc. 119,010 132,101 0.0% * US Auto Parts Network, Inc. 100,864 272,333 0.0% Vail Resorts, Inc. 245,102 21,167,009 0.2% Value Line, Inc. 26,515 422,914 0.0% #* Valuevision Media, Inc. Class A 301,375 1,705,782 0.0% #* Vera Bradley, Inc. 68,169 1,554,253 0.0% #* Vitamin Shoppe, Inc. 147,270 6,911,381 0.1% #* VOXX International Corp. 137,551 1,173,310 0.0% Walking Co. Holdings, Inc. (The) 214 1,578 0.0% # Wendy's Co. (The) 857,068 6,873,685 0.1% #* West Marine, Inc. 140,892 1,386,377 0.0% # Weyco Group, Inc. 50,427 1,570,801 0.0% * William Lyon Homes Class A 63,557 1,503,759 0.0% # Winmark Corp. 30,558 2,514,312 0.0% #* Winnebago Industries, Inc. 184,641 3,916,236 0.1% # Wolverine World Wide, Inc. 656,568 17,819,256 0.2% # World Wrestling Entertainment, Inc. Class A 37,880 467,818 0.0% #* Xanadoo Co. Class A 170 37,400 0.0% * Zagg, Inc. 126,677 851,269 0.0% #* Zumiez, Inc. 208,867 6,971,980 0.1% -------------------- ------------------ Total Consumer Discretionary 1,573,212,402 17.0% -------------------- ------------------ Consumer Staples -- (3.1%) # Alico, Inc. 27,106 1,000,211 0.0% #* Alliance One International, Inc. 385,962 783,503 0.0% Andersons, Inc. (The) 198,918 12,677,044 0.1% # B&G Foods, Inc. 374,863 11,043,464 0.1% #* Boston Beer Co., Inc. (The) Class A 2,323 578,427 0.0% #* Boulder Brands, Inc. 390,259 3,465,500 0.0% * Bridgford Foods Corp. 17,169 144,134 0.0% # Cal-Maine Foods, Inc. 151,692 13,317,041 0.2% # Calavo Growers, Inc. 87,234 4,234,338 0.1% # Casey's General Stores, Inc. 251,413 20,583,182 0.2% * CCA Industries, Inc. 16,064 54,618 0.0% * Central Garden and Pet Co. 70,866 565,511 0.0% * Central Garden and Pet Co. Class A 230,190 1,977,332 0.0% #* Chefs' Warehouse, Inc. (The) 56,461 1,008,958 0.0% * Chiquita Brands International, Inc. 272,654 3,934,397 0.1% # Coca-Cola Bottling Co. Consolidated 36,465 3,297,895 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Staples -- (Continued) #* Coffee Holding Co., Inc. 11,600 $ 66,352 0.0% #* Craft Brew Alliance, Inc. 91,298 1,267,216 0.0% #* Darling International, Inc. 768,402 13,523,875 0.2% # Dean Foods Co. 673,433 9,906,199 0.1% #* Diamond Foods, Inc. 92,782 2,797,377 0.0% #* Farmer Bros. Co. 65,644 1,914,179 0.0% Fresh Del Monte Produce, Inc. 356,409 11,444,293 0.1% #* Fresh Market, Inc. (The) 267,999 9,838,243 0.1% * Glacier Water Services, Inc. 3,200 61,136 0.0% Golden Enterprises, Inc. 32,785 146,549 0.0% Ingles Markets, Inc. Class A 73,537 1,978,145 0.0% Inter Parfums, Inc. 189,172 5,372,485 0.1% * Inventure Foods, Inc. 31,982 423,442 0.0% J&J Snack Foods Corp. 117,392 12,094,898 0.1% John B. Sanfilippo & Son, Inc. 61,807 2,296,130 0.0% # Lancaster Colony Corp. 178,181 16,301,780 0.2% # Liberator Medical Holdings, Inc. 26,723 76,962 0.0% #* Lifeway Foods, Inc. 50,414 834,352 0.0% # Limoneira Co. 7,335 188,216 0.0% * Mannatech, Inc. 5,854 85,293 0.0% #* Medifast, Inc. 97,827 3,105,029 0.0% # MGP Ingredients, Inc. 77,844 961,373 0.0% #* National Beverage Corp. 141,912 3,564,830 0.0% * Natural Alternatives International, Inc. 20,426 125,211 0.0% #* Natural Grocers by Vitamin Cottage, Inc. 11,321 205,023 0.0% # Nature's Sunshine Products, Inc. 33,684 501,892 0.0% * Nutraceutical International Corp. 42,411 953,399 0.0% Oil-Dri Corp. of America 23,455 707,872 0.0% * Omega Protein Corp. 137,949 1,993,363 0.0% # Orchids Paper Products Co. 45,879 1,319,480 0.0% * Pantry, Inc. (The) 147,402 3,798,550 0.1% #* Pilgrim's Pride Corp. 556,837 15,819,739 0.2% #* Post Holdings, Inc. 274,439 10,291,463 0.1% # Pricesmart, Inc. 156,031 13,891,440 0.2% Reliv International, Inc. 28,122 34,028 0.0% #* Revlon, Inc. Class A 236,323 8,105,879 0.1% * Rite Aid Corp. 1,084 5,691 0.0% Rocky Mountain Chocolate Factory, Inc. 29,081 351,589 0.0% # Roundy's, Inc. 19,106 64,387 0.0% # Sanderson Farms, Inc. 183,314 15,394,710 0.2% * Scheid Vineyards, Inc. Class A 440 14,749 0.0% * Seaboard Corp. 1,738 5,340,648 0.1% #* Seneca Foods Corp. Class A 33,822 909,135 0.0% * Seneca Foods Corp. Class B 2,794 84,449 0.0% Snyder's-Lance, Inc. 356,544 10,621,446 0.1% SpartanNash Co. 211,589 4,741,710 0.1% Spectrum Brands Holdings, Inc. 104,239 9,443,011 0.1% #* SUPERVALU, Inc. 1,469,351 12,680,499 0.1% * Tofutti Brands, Inc. 19,440 97,006 0.0% # Tootsie Roll Industries, Inc. 146,043 4,330,175 0.1% #* TreeHouse Foods, Inc. 239,572 20,404,347 0.2% #* United Natural Foods, Inc. 143,863 9,785,561 0.1% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Staples -- (Continued) # United-Guardian, Inc. 19,179 $ 400,074 0.0% # Universal Corp. 158,509 7,053,651 0.1% #* USANA Health Sciences, Inc. 67,939 7,743,687 0.1% # Vector Group, Ltd. 73,707 1,646,614 0.0% # Village Super Market, Inc. Class A 34,683 962,453 0.0% WD-40 Co. 95,317 7,307,954 0.1% # Weis Markets, Inc. 108,863 4,859,644 0.1% -------------------- ------------------ Total Consumer Staples 358,904,438 3.9% -------------------- ------------------ Energy -- (4.0%) #* Abraxas Petroleum Corp. 111,700 461,321 0.0% Adams Resources & Energy, Inc. 19,183 806,645 0.0% # Alon USA Energy, Inc. 418,708 6,716,076 0.1% #* Alpha Natural Resources, Inc. 34,300 67,228 0.0% AMEN Properties, Inc. 19 11,448 0.0% #* Approach Resources, Inc. 138,132 1,367,507 0.0% * Atwood Oceanics, Inc. 79,868 3,246,634 0.0% * Barnwell Industries, Inc. 32,713 83,745 0.0% * Basic Energy Services, Inc. 293,605 3,787,504 0.1% #* Bill Barrett Corp. 281,458 4,278,162 0.1% Bolt Technology Corp. 39,030 855,928 0.0% #* Bonanza Creek Energy, Inc. 287,024 12,984,966 0.2% #* BPZ Resources, Inc. 533,942 662,088 0.0% Bristow Group, Inc. 247,822 18,314,046 0.2% #* C&J Energy Services, Inc. 354,474 6,844,893 0.1% #* Cal Dive International, Inc. 190,984 19,098 0.0% #* Callon Petroleum Co. 293,347 1,924,356 0.0% # CARBO Ceramics, Inc. 116,026 5,995,063 0.1% * Carrizo Oil & Gas, Inc. 374,413 19,447,011 0.2% #* Clayton Williams Energy, Inc. 74,456 6,190,272 0.1% #* Clean Energy Fuels Corp. 409,703 2,994,929 0.0% * Cloud Peak Energy, Inc. 387,647 4,640,135 0.1% # Comstock Resources, Inc. 292,327 3,461,152 0.1% * Contango Oil & Gas Co. 88,261 3,227,705 0.0% Dawson Geophysical Co. 42,474 721,633 0.0% Delek US Holdings, Inc. 419,134 14,204,451 0.2% # DHT Holdings, Inc. 48,294 321,638 0.0% * Diamondback Energy, Inc. 23,627 1,617,032 0.0% #* Emerald Oil, Inc. 335,417 1,066,626 0.0% # Energy XXI Bermuda, Ltd. 400,033 3,076,254 0.0% * ENGlobal Corp. 92,274 120,879 0.0% EnLink Midstream LLC 300,719 11,397,250 0.1% * Era Group, Inc. 93,641 2,190,263 0.0% * Escalera Resources Co. 38,812 43,858 0.0% Evolution Petroleum Corp. 35,648 337,230 0.0% # Exterran Holdings, Inc. 471,071 18,527,222 0.2% #* FieldPoint Petroleum Corp. 31,986 90,520 0.0% #* Forbes Energy Services, Ltd. 2,000 5,760 0.0% #* Forest Oil Corp. 185,781 150,483 0.0% * Forum Energy Technologies, Inc. 68,012 1,856,728 0.0% # GasLog, Ltd. 457,502 9,525,192 0.1% * Gastar Exploration, Inc. 445,756 1,783,024 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Energy -- (Continued) #* Geospace Technologies Corp. 78,516 $ 2,417,508 0.0% #* Goodrich Petroleum Corp. 201,167 1,657,616 0.0% # Green Plains, Inc. 256,462 8,771,000 0.1% * Gulf Coast Ultra Deep Royalty Trust 339,862 543,779 0.0% # Gulf Island Fabrication, Inc. 59,499 1,257,809 0.0% # Gulfmark Offshore, Inc. Class A 174,408 5,260,145 0.1% #* Halcon Resources Corp. 399,570 1,242,663 0.0% #* Harvest Natural Resources, Inc. 170,665 634,874 0.0% #* Helix Energy Solutions Group, Inc. 725,159 19,318,236 0.2% #* Hercules Offshore, Inc. 241,581 398,609 0.0% * HKN, Inc. 2,360 155,760 0.0% #* Hornbeck Offshore Services, Inc. 243,619 7,469,359 0.1% * ION Geophysical Corp. 1,030,774 2,886,167 0.0% * Key Energy Services, Inc. 960,213 2,919,048 0.0% * Kodiak Oil & Gas Corp. 265,138 2,860,839 0.0% #* Lucas Energy, Inc. 5,558 2,004 0.0% #* Magnum Hunter Resources Corp. 66,602 309,033 0.0% #* Matador Resources Co. 502,440 12,194,219 0.1% * Matrix Service Co. 183,049 4,587,208 0.1% #* McDermott International, Inc. 758,472 2,912,532 0.0% * Mexco Energy Corp. 6,572 39,103 0.0% #* Midstates Petroleum Co., Inc. 12,793 37,995 0.0% #* Miller Energy Resources, Inc. 789 2,746 0.0% * Mitcham Industries, Inc. 57,704 588,581 0.0% * Natural Gas Services Group, Inc. 64,072 1,648,573 0.0% #* Newpark Resources, Inc. 575,268 6,575,313 0.1% #* Nordic American Offshore, Ltd. 27 432 0.0% # Nordic American Tankers, Ltd. 3,153 26,643 0.0% #* Northern Oil and Gas, Inc. 397,041 4,486,563 0.1% #* Nuverra Environmental Solutions, Inc. 99,029 937,805 0.0% #* Overseas Shipholding Group, Inc. 100,481 517,477 0.0% #* Pacific Drilling SA 70,741 514,994 0.0% # Panhandle Oil and Gas, Inc. Class A 81,476 1,675,147 0.0% * Parker Drilling Co. 746,608 3,314,940 0.0% PBF Energy, Inc. Class A 431,468 11,248,371 0.1% * PDC Energy, Inc. 184,045 8,046,447 0.1% #* Penn Virginia Corp. 466,506 3,997,956 0.1% #* PetroQuest Energy, Inc. 446,037 2,096,374 0.0% #* PHI, Inc. Non-Voting 51,449 2,301,828 0.0% * PHI, Inc. Voting 4,419 187,852 0.0% * Pioneer Energy Services Corp. 331,584 3,043,941 0.0% * PostRock Energy Corp. 1,614 1,162 0.0% #* Renewable Energy Group, Inc. 177,914 1,873,434 0.0% * REX American Resources Corp. 21,400 1,557,064 0.0% #* Rex Energy Corp. 399,433 3,131,555 0.0% #* RigNet, Inc. 61,389 2,667,352 0.0% #* Ring Energy, Inc. 7,290 125,388 0.0% * Rosetta Resources, Inc. 126,406 4,807,220 0.1% #* Royale Energy, Inc. 10,018 26,247 0.0% #* SandRidge Energy, Inc. 11,345 44,245 0.0% # Scorpio Tankers, Inc. 1,137,947 9,934,277 0.1% #* SEACOR Holdings, Inc. 136,182 11,228,206 0.1% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Energy -- (Continued) SemGroup Corp. Class A 263,275 $ 20,206,356 0.2% * Seventy Seven Energy, Inc. 67,609 883,650 0.0% # Ship Finance International, Ltd. 485,506 8,345,848 0.1% * Steel Excel, Inc. 32,698 997,289 0.0% #* Stone Energy Corp. 372,998 9,138,451 0.1% #* Swift Energy Co. 151,326 1,036,583 0.0% #* Synergy Resources Corp. 529,247 6,451,521 0.1% #* Synthesis Energy Systems, Inc. 48,546 50,002 0.0% (Degree)#* Syntroleum Corp. 12,079 42,025 0.0% Targa Resources Corp. 60,570 7,791,119 0.1% # Teekay Tankers, Ltd. Class A 3,990 16,918 0.0% # Tesco Corp. 178,280 3,394,451 0.0% #* TETRA Technologies, Inc. 498,279 4,748,599 0.1% * TGC Industries, Inc. 95,637 300,300 0.0% # Tidewater, Inc. 102,699 3,786,512 0.1% #* Triangle Petroleum Corp. 572,203 4,434,573 0.1% * Unit Corp. 99,808 4,832,703 0.1% #* Uranium Energy Corp. 38,948 44,790 0.0% #* US Energy Corp. Wyoming 10,000 26,100 0.0% * Vaalco Energy, Inc. 390,592 2,898,193 0.0% # W&T Offshore, Inc. 465,729 4,233,477 0.1% * Warren Resources, Inc. 462,423 1,599,984 0.0% Western Refining, Inc. 468,468 21,357,456 0.2% * Westmoreland Coal Co. 104,217 3,811,216 0.1% * Willbros Group, Inc. 331,559 1,946,251 0.0% World Fuel Services Corp. 953 39,302 0.0% * Yuma Energy, Inc. 17,796 60,506 0.0% * Zion Oil & Gas, Inc. 3,973 6,913 0.0% -------------------- ------------------ Total Energy 452,388,682 4.9% -------------------- ------------------ Financials -- (14.0%) * 1st Constitution Bancorp 1,951 21,666 0.0% # 1st Source Corp. 144,937 4,535,079 0.1% 1st United Bancorp, Inc. 50,975 451,129 0.0% * A-Mark Precious Metals, Inc. 21,404 225,384 0.0% Access National Corp. 33,310 561,273 0.0% # Alexander & Baldwin, Inc. 303,911 12,165,557 0.1% Alliance Bancorp, Inc. of Pennsylvania 3,510 57,880 0.0% #* Altisource Asset Management Corp. 10,675 5,764,500 0.1% #* Altisource Portfolio Solutions SA 123,758 9,239,772 0.1% #* Ambac Financial Group, Inc. 259,656 5,940,929 0.1% Ameriana Bancorp 2,912 49,329 0.0% # American Equity Investment Life Holding Co. 498,923 12,877,203 0.1% * American Independence Corp. 1,537 16,892 0.0% # American National Bankshares, Inc. 23,894 578,235 0.0% American National Insurance Co. 5 570 0.0% * American River Bankshares 7,326 69,597 0.0% (Degree)* American Spectrum Realty, Inc. 3,652 6,135 0.0% Ameris Bancorp 146,676 3,637,565 0.0% AMERISAFE, Inc. 117,019 4,879,692 0.1% # AmeriServ Financial, Inc. 278,158 876,198 0.0% # Amtrust Financial Services, Inc. 414,663 18,605,929 0.2% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) Argo Group International Holdings, Ltd. 135,966 $ 7,586,903 0.1% # Arrow Financial Corp. 46,265 1,267,198 0.0% ASB Financial Corp. 900 12,150 0.0% Aspen Insurance Holdings, Ltd. 410,088 17,892,139 0.2% Associated Banc-Corp 893,505 16,797,894 0.2% * Asta Funding, Inc. 48,129 405,727 0.0% Astoria Financial Corp. 662,983 8,718,226 0.1% Atlantic American Corp. 20,640 79,670 0.0% #* Atlantic Coast Financial Corp. 143 589 0.0% * Atlanticus Holdings Corp. 73,372 102,721 0.0% # Auburn National Bancorporation, Inc. 2,786 65,387 0.0% #* AV Homes, Inc. 46,957 703,885 0.0% Baldwin & Lyons, Inc. Class A 1,471 36,069 0.0% # Baldwin & Lyons, Inc. Class B 33,439 900,178 0.0% # Banc of California, Inc. 46,441 546,611 0.0% # Bancfirst Corp. 51,948 3,376,620 0.0% #* Bancorp, Inc. 224,519 2,123,950 0.0% # BancorpSouth, Inc. 657,967 15,152,980 0.2% Bank Mutual Corp. 142,527 939,253 0.0% Bank of Commerce Holdings 4,992 30,202 0.0% # Bank of Hawaii Corp. 328,545 19,236,310 0.2% Bank of Kentucky Financial Corp (The) 3,833 179,806 0.0% # Bank of the Ozarks, Inc. 552,762 19,479,333 0.2% BankFinancial Corp. 78,556 937,173 0.0% BankUnited, Inc. 52,214 1,561,199 0.0% Banner Corp. 128,700 5,562,414 0.1% Bar Harbor Bankshares 19,129 556,654 0.0% BBCN Bancorp, Inc. 585,606 8,280,469 0.1% #* BBX Capital Corp. Class A 60,353 1,110,495 0.0% BCB Bancorp, Inc. 18,073 232,961 0.0% * Bear State Financial, Inc. 11,406 102,312 0.0% * Beneficial Mutual Bancorp, Inc. 336,341 4,517,060 0.1% Berkshire Bancorp, Inc. 10,144 84,956 0.0% Berkshire Hills Bancorp, Inc. 123,112 3,173,827 0.0% BGC Partners, Inc. Class A 1,239,298 10,509,247 0.1% BNC Bancorp 214 3,640 0.0% * BNCCORP, Inc. 3,900 70,200 0.0% #* BofI Holding, Inc. 90,400 6,962,608 0.1% Boston Private Financial Holdings, Inc. 571,271 7,512,214 0.1% # Bridge Bancorp, Inc. 9,830 258,136 0.0% #* Bridge Capital Holdings 5,847 141,030 0.0% Brookline Bancorp, Inc. 440,800 4,227,272 0.1% # Bryn Mawr Bank Corp. 61,075 1,882,942 0.0% C&F Financial Corp. 1,705 58,550 0.0% Calamos Asset Management, Inc. Class A 132,339 1,813,044 0.0% California First National Bancorp 14,701 221,985 0.0% # Camden National Corp. 33,314 1,362,876 0.0% # Cape Bancorp, Inc. 6,168 54,957 0.0% * Capital Bank Financial Corp. Class A 22,866 592,001 0.0% # Capital City Bank Group, Inc. 50,766 767,074 0.0% (Degree) Capital Properties, Inc., 5.000% 2,340 2,318 0.0% #* Capital Properties, Inc. Class A 2,600 31,642 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) # Capital Southwest Corp. 17,908 $ 656,507 0.0% Capitol Federal Financial, Inc. 909,863 11,655,345 0.1% # Cardinal Financial Corp. 206,278 3,960,538 0.1% * Cascade Bancorp 80,089 409,255 0.0% # Cash America International, Inc. 181,729 8,931,980 0.1% Cathay General Bancorp 544,526 14,380,932 0.2% Centerstate Banks, Inc. 135,360 1,575,590 0.0% Central Pacific Financial Corp. 73,421 1,387,657 0.0% # Century Bancorp, Inc. Class A 5,255 199,585 0.0% # Charter Financial Corp. 27,896 316,341 0.0% Chemical Financial Corp. 153,372 4,567,418 0.1% Chicopee Bancorp, Inc. 9,906 147,500 0.0% Citizens Community Bancorp, Inc. 1,592 14,169 0.0% * Citizens First Corp. 400 4,600 0.0% Citizens Holding Co. 2,717 50,944 0.0% #* Citizens, Inc. 199,081 1,451,300 0.0% # City Holding Co. 75,170 3,381,898 0.0% # CKX Lands, Inc. 5,107 81,763 0.0% # Clifton Bancorp, Inc. 106,970 1,392,749 0.0% # CNB Financial Corp. 21,130 382,664 0.0% CNO Financial Group, Inc. 978,475 17,739,752 0.2% # CoBiz Financial, Inc. 175,790 2,112,996 0.0% Codorus Valley Bancorp, Inc. 2,496 53,960 0.0% # Cohen & Steers, Inc. 14,801 634,371 0.0% * Colonial Financial Services, Inc. 728 9,457 0.0% * Colony Bankcorp, Inc. 10,672 74,704 0.0% # Columbia Banking System, Inc. 337,280 9,369,638 0.1% Commercial National Financial Corp. 3,979 84,554 0.0% # Community Bank System, Inc. 263,863 10,066,373 0.1% # Community Trust Bancorp, Inc. 84,042 3,021,310 0.0% Community West Bancshares 6,650 42,893 0.0% * CommunityOne Bancorp 214 2,277 0.0% ConnectOne Bancorp, Inc. 72,798 1,346,763 0.0% # Consolidated-Tomoka Land Co. 19,928 1,040,042 0.0% * Consumer Portfolio Services, Inc. 75,573 533,545 0.0% * Cowen Group, Inc. Class A 459,717 1,857,257 0.0% Crawford & Co. Class A 95,513 842,425 0.0% # Crawford & Co. Class B 68,025 692,494 0.0% #* Credit Acceptance Corp. 62,331 9,197,562 0.1% #* Customers Bancorp, Inc. 38,605 737,355 0.0% # CVB Financial Corp. 716,507 11,306,480 0.1% # Diamond Hill Investment Group, Inc. 985 131,980 0.0% Dime Community Bancshares, Inc. 240,518 3,788,158 0.1% Donegal Group, Inc. Class A 71,231 1,126,874 0.0% Donegal Group, Inc. Class B 5,267 110,607 0.0% #* Doral Financial Corp. 6,346 36,870 0.0% Eagle Bancorp Montana, Inc. 225 2,408 0.0% * Eastern Virginia Bankshares, Inc. 590 3,652 0.0% #* eHealth, Inc. 94,514 2,358,124 0.0% # EMC Insurance Group, Inc. 37,861 1,213,066 0.0% Employers Holdings, Inc. 196,442 4,005,452 0.1% #* Encore Capital Group, Inc. 185,625 8,447,794 0.1% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) Endurance Specialty Holdings, Ltd. 302,854 $ 17,550,389 0.2% #* Enstar Group, Ltd. 43,208 6,397,809 0.1% # Enterprise Bancorp, Inc. 10,055 236,594 0.0% Enterprise Financial Services Corp. 69,062 1,301,819 0.0% # ESB Financial Corp. 62,464 1,165,578 0.0% ESSA Bancorp, Inc. 44,575 512,167 0.0% Evans Bancorp, Inc. 3,162 73,501 0.0% # EverBank Financial Corp. 336,345 6,441,007 0.1% # Evercore Partners, Inc. Class A 256,516 13,279,833 0.2% #* Ezcorp, Inc. Class A 237,820 2,682,610 0.0% #* Farmers Capital Bank Corp. 9,226 207,031 0.0% FBL Financial Group, Inc. Class A 112,288 5,567,239 0.1% Federal Agricultural Mortgage Corp. Class A 2,089 51,181 0.0% Federal Agricultural Mortgage Corp. Class C 56,989 1,897,734 0.0% # Federated Investors, Inc. Class B 122,687 3,836,422 0.1% Federated National Holding Co. 84,398 2,823,957 0.0% # Fidelity Southern Corp. 26,605 408,387 0.0% # Financial Engines, Inc. 38,319 1,527,779 0.0% Financial Institutions, Inc. 59,147 1,486,956 0.0% * First Acceptance Corp. 13,967 35,756 0.0% # First American Financial Corp. 503,455 15,264,756 0.2% # First Bancorp, Inc. 32,161 568,928 0.0% * First BanCorp.(318672706) 266,219 1,387,001 0.0% # First Bancorp.(318910106) 57,495 1,041,809 0.0% * First Bancshares, Inc. 1,345 9,375 0.0% First Bancshares, Inc. (The) 921 13,852 0.0% # First Busey Corp. 368,160 2,301,000 0.0% First Business Financial Services, Inc. 2,089 98,037 0.0% * First Cash Financial Services, Inc. 189,168 11,176,045 0.1% First Citizens BancShares, Inc. Class A 12,599 3,164,995 0.0% # First Commonwealth Financial Corp. 612,634 5,728,128 0.1% First Community Bancshares, Inc. 62,923 1,030,050 0.0% # First Connecticut Bancorp, Inc. 3,700 57,868 0.0% First Defiance Financial Corp. 44,404 1,360,095 0.0% # First Federal of Northern Michigan Bancorp, Inc. 32,874 160,754 0.0% First Financial Bancorp 384,928 6,751,637 0.1% # First Financial Bankshares, Inc. 266,336 8,464,158 0.1% # First Financial Corp. 57,167 1,982,552 0.0% First Financial Northwest, Inc. 52,386 607,678 0.0% * First Financial Service Corp. 5,202 19,247 0.0% # First Horizon National Corp. 1,296,893 16,678,044 0.2% First Interstate Bancsystem, Inc. 113,021 3,316,036 0.0% #* First Marblehead Corp. (The) 12,935 31,949 0.0% First Merchants Corp. 243,049 5,505,060 0.1% First Midwest Bancorp, Inc. 512,151 8,599,015 0.1% * First NBC Bank Holding Co. 11,200 411,376 0.0% First Niagara Financial Group, Inc. 162,196 1,214,848 0.0% (Degree)* First Place Financial Corp. 151,301 15 0.0% First South Bancorp, Inc. 20,886 172,310 0.0% * First United Corp. 9,289 79,421 0.0% First West Virginia Bancorp 63 1,259 0.0% FirstMerit Corp. 337,829 6,199,162 0.1% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) * Flagstar Bancorp, Inc. 170,838 $ 2,685,573 0.0% # Flushing Financial Corp. 182,163 3,668,763 0.0% FNB Corp. 1,093,216 13,982,233 0.2% #* Forestar Group, Inc. 215,549 3,761,330 0.0% * Fortegra Financial Corp. 1,191 11,767 0.0% Fox Chase Bancorp, Inc. 44,680 731,858 0.0% #* Franklin Financial Corp. 701 14,553 0.0% Fulton Financial Corp. 1,278,541 15,189,067 0.2% # FXCM, Inc. Class A 208,753 3,436,074 0.0% # Gain Capital Holdings, Inc. 103,305 884,291 0.0% * GAINSCO, Inc. 220 2,310 0.0% # GAMCO Investors, Inc. Class A 23,686 1,956,937 0.0% # German American Bancorp, Inc. 31,650 945,385 0.0% GFI Group, Inc. 503,138 2,767,259 0.0% # Glacier Bancorp, Inc. 508,359 14,584,820 0.2% #* Global Indemnity P.L.C. 60,537 1,754,362 0.0% Gouverneur Bancorp, Inc. 1,695 19,832 0.0% Great Southern Bancorp, Inc. 51,426 1,954,702 0.0% * Green Dot Corp. Class A 264,386 6,318,825 0.1% # Greenhill & Co., Inc. 197,036 8,866,620 0.1% * Greenlight Capital Re, Ltd. Class A 172,941 5,611,935 0.1% # Griffin Land & Nurseries, Inc. 20,710 541,566 0.0% # Guaranty Bancorp 38,410 605,726 0.0% Guaranty Federal Bancshares, Inc. 2,800 35,546 0.0% * Hallmark Financial Services, Inc. 77,225 900,443 0.0% # Hampden Bancorp, Inc. 2,924 50,293 0.0% * Hampton Roads Bankshares, Inc. 3,123 5,434 0.0% Hancock Holding Co. 154,370 5,432,280 0.1% # Hanmi Financial Corp. 209,011 4,483,286 0.1% Hanover Insurance Group, Inc. (The) 296,712 19,861,901 0.2% Harleysville Savings Financial Corp. 1,615 27,213 0.0% Hawthorn Bancshares, Inc. 755 10,389 0.0% HCI Group, Inc. 73,121 3,717,472 0.0% # Heartland Financial USA, Inc. 57,207 1,521,706 0.0% # Heritage Commerce Corp. 53,049 461,526 0.0% Heritage Financial Corp. 101,991 1,789,942 0.0% Heritage Financial Group, Inc. 7,167 151,869 0.0% HF Financial Corp. 8,198 111,411 0.0% HFF, Inc. Class A 256,556 8,076,383 0.1% * Hilltop Holdings, Inc. 572,959 12,622,287 0.1% Hingham Institution for Savings 4,073 336,919 0.0% * HMN Financial, Inc. 31,110 403,186 0.0% * Home Bancorp, Inc. 921 20,990 0.0% # Home BancShares, Inc. 434,514 13,869,687 0.2% # HomeStreet, Inc. 2,600 45,292 0.0% * HomeTrust Bancshares, Inc. 5,782 89,332 0.0% HopFed Bancorp, Inc. 7,872 90,056 0.0% Horace Mann Educators Corp. 258,749 7,868,557 0.1% # Horizon Bancorp 7,109 182,843 0.0% # Hudson Valley Holding Corp. 33,989 772,910 0.0% Iberiabank Corp. 210,505 14,495,374 0.2% # Independence Holding Co. 76,440 1,081,626 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) # Independent Bank Corp.(453836108) 150,243 $ 6,129,914 0.1% Independent Bank Corp.(453838609) 28,411 342,921 0.0% # Independent Bank Group, Inc. 6,878 307,378 0.0% Infinity Property & Casualty Corp. 47,846 3,493,236 0.0% Interactive Brokers Group, Inc. Class A 411,760 10,631,643 0.1% * InterGroup Corp. (The) 1,860 35,340 0.0% International Bancshares Corp. 342,260 9,709,916 0.1% Intervest Bancshares Corp. Class A 14,332 139,737 0.0% #* INTL. FCStone, Inc. 74,175 1,342,567 0.0% * Investment Technology Group, Inc. 144,204 2,585,578 0.0% Investors Bancorp, Inc. 1,522,976 16,371,992 0.2% Investors Title Co. 5,690 426,466 0.0% #* Jacksonville Bancorp, Inc. 80 856 0.0% # Janus Capital Group, Inc. 404,789 6,067,787 0.1% JMP Group, Inc. 85,716 625,727 0.0% #* JW Mays, Inc. 200 9,900 0.0% * KCG Holdings, Inc. Class A 114,614 1,221,785 0.0% #* Kearny Financial Corp. 172,243 2,452,740 0.0% # Kemper Corp. 351,773 12,962,835 0.1% Kennedy-Wilson Holdings, Inc. 502,556 13,614,242 0.2% Kentucky First Federal Bancorp 11,174 91,515 0.0% #* Ladenburg Thalmann Financial Services, Inc. 309,849 1,323,055 0.0% Lake Shore Bancorp, Inc. 537 7,437 0.0% Lakeland Bancorp, Inc. 149,988 1,648,368 0.0% # Lakeland Financial Corp. 88,758 3,678,132 0.0% Landmark Bancorp, Inc. 4,441 106,140 0.0% # Life Partners Holdings, Inc. 59,461 108,814 0.0% LNB Bancorp, Inc. 32,149 451,372 0.0% Louisiana Bancorp, Inc. 1,387 28,961 0.0% LSB Financial Corp. 291 12,682 0.0% # Macatawa Bank Corp. 118,190 615,770 0.0% * Magyar Bancorp, Inc. 1,800 15,642 0.0% # Maiden Holdings, Ltd. 387,084 4,625,654 0.1% # MainSource Financial Group, Inc. 79,101 1,438,847 0.0% * Malvern Bancorp, Inc. 2,604 29,217 0.0% Manning & Napier, Inc. 54,434 862,235 0.0% # MarketAxess Holdings, Inc. 259,295 16,763,422 0.2% Marlin Business Services Corp. 55,566 1,174,665 0.0% #* Maui Land & Pineapple Co., Inc. 16,899 103,253 0.0% MB Financial, Inc. 410,975 12,966,261 0.1% * MBIA, Inc. 928,640 9,063,526 0.1% * MBT Financial Corp. 13,337 62,017 0.0% # Meadowbrook Insurance Group, Inc. 236,469 1,506,308 0.0% # Medallion Financial Corp. 47,431 547,828 0.0% # Mercantile Bank Corp. 35,965 709,589 0.0% Merchants Bancshares, Inc. 30,722 915,208 0.0% Mercury General Corp. 226,076 12,009,157 0.1% * Meridian Bancorp, Inc. 88,538 1,004,021 0.0% # Meta Financial Group, Inc. 11,458 429,790 0.0% * Metro Bancorp, Inc. 85,477 2,140,344 0.0% #* MGIC Investment Corp. 675,535 6,025,772 0.1% MicroFinancial, Inc. 41,915 351,667 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) Mid Penn Bancorp, Inc. 2,649 $ 41,033 0.0% # MidSouth Bancorp, Inc. 27,201 515,187 0.0% # MidWestOne Financial Group, Inc. 741 19,770 0.0% # Montpelier Re Holdings, Ltd. 263,090 8,718,803 0.1% * MSB Financial Corp. 1,000 9,040 0.0% MutualFirst Financial, Inc. 10,911 237,314 0.0% # National Bank Holdings Corp. Class A 25,604 501,582 0.0% # National Interstate Corp. 54,147 1,539,941 0.0% National Penn Bancshares, Inc. 1,002,557 10,316,311 0.1% # National Western Life Insurance Co. Class A 4,334 1,174,514 0.0% #* Nationstar Mortgage Holdings, Inc. 30,257 1,062,626 0.0% * Naugatuck Valley Financial Corp. 1,596 12,688 0.0% * Navigators Group, Inc. (The) 79,357 5,403,418 0.1% # NBT Bancorp, Inc. 218,237 5,604,326 0.1% Nelnet, Inc. Class A 204,358 9,725,397 0.1% # New Hampshire Thrift Bancshares, Inc. 8,785 138,979 0.0% #* NewBridge Bancorp 79,051 702,763 0.0% #* NewStar Financial, Inc. 185,869 2,542,688 0.0% Nicholas Financial, Inc. 4,051 49,463 0.0% Northeast Bancorp 493 4,442 0.0% Northeast Community Bancorp, Inc. 11,679 81,753 0.0% Northfield Bancorp, Inc. 285,369 4,063,655 0.1% # Northrim BanCorp, Inc. 15,577 450,175 0.0% Northway Financial, Inc. 5,279 106,900 0.0% Northwest Bancshares, Inc. 614,429 7,883,124 0.1% # Norwood Financial Corp. 1,963 56,868 0.0% # Ocean Shore Holding Co. 3,443 49,579 0.0% # OceanFirst Financial Corp. 83,331 1,380,795 0.0% # OFG Bancorp 308,312 4,800,418 0.1% Ohio Valley Banc Corp. 6,595 157,423 0.0% # Old Line Bancshares, Inc. 4,075 65,119 0.0% Old National Bancorp 668,779 9,730,734 0.1% * Old Second Bancorp, Inc. 46,326 222,365 0.0% OmniAmerican Bancorp, Inc. 56,434 1,525,975 0.0% OneBeacon Insurance Group, Ltd. Class A 154,309 2,458,142 0.0% Oppenheimer Holdings, Inc. Class A 28,173 691,647 0.0% Oritani Financial Corp. 302,805 4,472,430 0.1% # Pacific Continental Corp. 75,888 1,094,305 0.0% * Pacific Mercantile Bancorp 8,605 60,579 0.0% #* Pacific Premier Bancorp, Inc. 36,701 594,189 0.0% PacWest Bancorp 526,842 22,475,080 0.3% # Park National Corp. 66,464 5,607,568 0.1% Park Sterling Corp. 132,390 1,014,107 0.0% * Patriot National Bancorp, Inc. 3,100 5,704 0.0% # Peapack Gladstone Financial Corp. 45,193 824,772 0.0% # Penns Woods Bancorp, Inc. 16,245 788,370 0.0% * PennyMac Financial Services, Inc. Class A 1,621 27,006 0.0% Peoples Bancorp 555 13,403 0.0% Peoples Bancorp of North Carolina, Inc. 3,975 69,563 0.0% # Peoples Bancorp, Inc. 39,159 965,269 0.0% #* PHH Corp. 326,647 7,738,267 0.1% #* Phoenix Cos., Inc. (The) 17,230 1,022,773 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) #* PICO Holdings, Inc. 130,732 $ 2,889,177 0.0% Pinnacle Financial Partners, Inc. 232,551 9,115,999 0.1% #* Piper Jaffray Cos. 66,404 3,749,170 0.0% Platinum Underwriters Holdings, Ltd. 185,551 11,621,059 0.1% * Popular, Inc. 100,993 3,219,657 0.0% * Porter Bancorp, Inc. 5,274 3,698 0.0% PRA Group, Inc. 343,533 21,728,462 0.2% # Preferred Bank 20,614 547,920 0.0% Premier Financial Bancorp, Inc. 30,814 448,960 0.0% Primerica, Inc. 389,301 19,912,746 0.2% PrivateBancorp, Inc. 463,733 14,987,851 0.2% ProAssurance Corp. 56,548 2,645,315 0.0% Provident Financial Holdings, Inc. 45,783 667,516 0.0% Provident Financial Services, Inc. 337,651 6,155,378 0.1% # Prudential Bancorp, Inc. 7,693 93,316 0.0% Pulaski Financial Corp. 39,714 475,377 0.0% # Pzena Investment Management, Inc. Class A 67,291 676,275 0.0% * QC Holdings, Inc. 67,835 115,320 0.0% # Radian Group, Inc. 466,486 7,860,289 0.1% # RCS Capital Corp. Class A 97,763 1,604,291 0.0% #* Regional Management Corp. 13,621 158,821 0.0% # Renasant Corp. 155,392 4,685,069 0.1% # Republic Bancorp, Inc. Class A 76,190 1,847,607 0.0% * Republic First Bancorp, Inc. 21,386 84,902 0.0% # Resource America, Inc. Class A 115,937 1,106,039 0.0% * Riverview Bancorp, Inc. 37,965 154,518 0.0% # RLI Corp. 271,684 13,472,810 0.2% * Royal Bancshares of Pennsylvania, Inc. Class A 16,590 31,023 0.0% # S&T Bancorp, Inc. 150,961 4,165,014 0.1% #* Safeguard Scientifics, Inc. 130,982 2,613,091 0.0% Safety Insurance Group, Inc. 102,202 6,375,361 0.1% Salisbury Bancorp, Inc. 2,458 67,472 0.0% # Sandy Spring Bancorp, Inc. 130,256 3,360,605 0.0% SB Financial Group, Inc. 790 7,221 0.0% #* Seacoast Banking Corp. of Florida 38,720 494,067 0.0% * Select Bancorp, Inc. 2,400 16,248 0.0% Selective Insurance Group, Inc. 342,398 8,840,716 0.1% #* Shore Bancshares, Inc. 16,489 151,369 0.0% SI Financial Group, Inc. 6,862 75,756 0.0% # Sierra Bancorp 37,175 637,923 0.0% # Simmons First National Corp. Class A 96,697 4,060,307 0.1% Simplicity Bancorp, Inc. 17,616 291,897 0.0% South State Corp. 150,413 9,071,408 0.1% * Southcoast Financial Corp. 13 90 0.0% (Degree) Southern Community Financial Corp. 57,808 53,513 0.0% * Southern First Bancshares, Inc. 3,037 44,158 0.0% Southern Missouri Bancorp, Inc. 1,107 40,926 0.0% # Southern National Bancorp of Virginia, Inc. 493 5,709 0.0% # Southside Bancshares, Inc. 84,173 2,826,529 0.0% Southwest Bancorp, Inc. 90,554 1,632,689 0.0% Southwest Georgia Financial Corp. 1,844 24,894 0.0% #* St Joe Co. (The) 285,095 5,459,569 0.1% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) StanCorp Financial Group, Inc. 253,856 $ 17,658,223 0.2% State Auto Financial Corp. 133,348 2,790,974 0.0% Sterling Bancorp 457,713 6,435,445 0.1% Stewart Information Services Corp. 142,383 5,028,968 0.1% * Stifel Financial Corp. 396,794 18,851,683 0.2% # Stock Yards Bancorp, Inc. 59,324 1,974,303 0.0% * Stratus Properties, Inc. 26,622 367,916 0.0% Suffolk Bancorp 78,876 1,810,993 0.0% Summit State Bank 195 2,514 0.0% #* Sun Bancorp, Inc. 51,776 1,045,875 0.0% Susquehanna Bancshares, Inc. 1,269,217 12,451,019 0.1% Sussex Bancorp 10,149 101,997 0.0% #* SWS Group, Inc. 72,807 538,044 0.0% Symetra Financial Corp. 622,949 14,763,891 0.2% Synovus Financial Corp. 491,566 12,466,114 0.1% TCF Financial Corp. 1,242,031 19,189,379 0.2% #* Tejon Ranch Co. 130,526 3,939,275 0.1% Territorial Bancorp, Inc. 41,901 900,033 0.0% # Teton Advisors, Inc. Class A 311 15,861 0.0% #* Texas Capital Bancshares, Inc. 301,830 18,456,904 0.2% Timberland Bancorp, Inc. 76,238 805,073 0.0% # Tompkins Financial Corp. 51,945 2,607,639 0.0% # Towne Bank 92,522 1,402,634 0.0% #* Tree.com, Inc. 56,523 2,090,786 0.0% # Trico Bancshares 83,400 2,193,410 0.0% * Trinity Place Holdings, Inc. 34,797 200,431 0.0% #* TriState Capital Holdings, Inc. 3,630 35,393 0.0% # TrustCo Bank Corp. 606,880 4,430,224 0.1% # Trustmark Corp. 433,045 10,535,985 0.1% # UMB Financial Corp. 275,391 16,407,796 0.2% Umpqua Holdings Corp. 588,108 10,350,701 0.1% * Unico American Corp. 11,600 135,024 0.0% Union Bankshares Corp. 206,000 4,630,880 0.1% Union Bankshares, Inc. 2,252 55,151 0.0% United Bancshares, Inc. 900 13,338 0.0% # United Bankshares, Inc. 384,847 13,192,555 0.2% United Community Banks, Inc. 337,473 6,084,638 0.1% # United Community Financial Corp. 503,382 2,577,316 0.0% United Financial Bancorp, Inc. 244,826 3,434,909 0.0% United Fire Group, Inc. 109,027 3,541,197 0.0% * United Security Bancshares 28,868 163,104 0.0% Unity Bancorp, Inc. 9,365 85,783 0.0% # Universal Insurance Holdings, Inc. 251,915 4,408,512 0.1% # Univest Corp. of Pennsylvania 69,085 1,417,624 0.0% # Valley National Bancorp 437,851 4,369,753 0.1% ViewPoint Financial Group, Inc. 269,267 7,342,911 0.1% Virtus Investment Partners, Inc. 50,191 8,994,729 0.1% VSB Bancorp, Inc. 1,037 12,263 0.0% * Walker & Dunlop, Inc. 62,463 1,006,279 0.0% # Washington Federal, Inc. 686,690 14,990,443 0.2% # Washington Trust Bancorp, Inc. 75,230 2,886,575 0.0% Waterstone Financial, Inc. 84,851 1,038,576 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) Wayne Savings Bancshares, Inc. 2,043 $ 26,253 0.0% # Webster Financial Corp. 636,653 19,952,705 0.2% # WesBanco, Inc. 143,501 4,945,044 0.1% # West Bancorporation, Inc. 64,118 1,063,076 0.0% # Westamerica Bancorporation 161,399 7,963,427 0.1% * Western Alliance Bancorp 608,357 16,194,463 0.2% Westfield Financial, Inc. 115,394 815,836 0.0% Westwood Holdings Group, Inc. 29,368 1,982,340 0.0% Wilshire Bancorp, Inc. 552,640 5,471,136 0.1% Wintrust Financial Corp. 304,144 14,087,950 0.2% #* WisdomTree Investments, Inc. 942,537 13,902,421 0.2% #* World Acceptance Corp. 62,914 4,508,417 0.1% * Wright Investors' Service Holdings, Inc. 13,860 22,176 0.0% WSFS Financial Corp. 12,912 1,015,529 0.0% WVS Financial Corp. 4,423 48,321 0.0% * Yadkin Financial Corp. 26,461 513,608 0.0% -------------------- ------------------ Total Financials 1,606,644,062 17.4% -------------------- ------------------ Health Care -- (7.9%) # Abaxis, Inc. 48,759 2,567,649 0.0% #* Acadia Healthcare Co., Inc. 315,944 19,604,325 0.2% #* Accelerate Diagnostics, Inc. 10,203 221,609 0.0% #* Accretive Health, Inc. 5,000 36,000 0.0% #* Accuray, Inc. 290,164 1,836,738 0.0% #* Achillion Pharmaceuticals, Inc. 13,511 158,754 0.0% #* Acorda Therapeutics, Inc. 211,500 7,364,430 0.1% #* Adcare Health Systems, Inc. 970 4,190 0.0% * Addus HomeCare Corp. 64,481 1,281,237 0.0% #* Affymetrix, Inc. 474,809 4,278,029 0.1% #* Air Methods Corp. 268,361 12,674,690 0.1% #* Akorn, Inc. 616,939 27,484,632 0.3% #* Albany Molecular Research, Inc. 241,896 5,626,501 0.1% * Alere, Inc. 212,643 8,499,341 0.1% #* Alliance HealthCare Services, Inc. 49,128 1,185,459 0.0% * Allied Healthcare Products, Inc. 13,770 25,888 0.0% #* Allscripts Healthcare Solutions, Inc. 1,220,478 16,744,958 0.2% * Almost Family, Inc. 36,510 1,074,854 0.0% #* Alphatec Holdings, Inc. 255,458 388,296 0.0% #* AMAG Pharmaceuticals, Inc. 80,969 2,672,787 0.0% #* Amedisys, Inc. 220,560 5,756,616 0.1% * American Shared Hospital Services 10,189 22,110 0.0% * AMN Healthcare Services, Inc. 293,626 5,035,686 0.1% * Amsurg Corp. 268,745 14,514,917 0.2% * Anacor Pharmaceuticals, Inc. 6,468 190,224 0.0% # Analogic Corp. 75,291 5,491,726 0.1% * AngioDynamics, Inc. 174,710 2,970,070 0.0% #* ANI Pharmaceuticals, Inc. 799 27,134 0.0% #* Anika Therapeutics, Inc. 105,372 4,229,632 0.1% * Arqule, Inc. 93,636 107,681 0.0% * Arrhythmia Research Technology, Inc. 6,674 43,047 0.0% * AtriCure, Inc. 5,637 98,309 0.0% # Atrion Corp. 10,342 3,412,963 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Health Care -- (Continued) #* Auxilium Pharmaceuticals, Inc. 275,135 $ 8,851,093 0.1% #* AVEO Pharmaceuticals, Inc. 126,042 122,261 0.0% * Bio-Reference Laboratories, Inc. 130,423 3,917,907 0.0% #* Bioanalytical Systems, Inc. 5,617 12,919 0.0% #* BioScrip, Inc. 475,938 3,074,559 0.0% * Biospecifics Technologies Corp. 20,593 826,191 0.0% * Biota Pharmaceuticals, Inc. 24,681 60,468 0.0% #* BioTelemetry, Inc. 160,926 1,350,169 0.0% #* Bovie Medical Corp. 54,539 214,884 0.0% * Cambrex Corp. 210,009 4,426,990 0.1% Cantel Medical Corp. 263,035 11,152,684 0.1% * Capital Senior Living Corp. 181,346 4,080,285 0.1% #* CASI Pharmaceuticals, Inc. 9,289 16,627 0.0% * Catalyst Pharmaceutical Partners, Inc. 6,701 19,902 0.0% #* Celsion Corp. 8,283 22,695 0.0% * Centene Corp. 172,497 15,985,297 0.2% * Charles River Laboratories International, Inc. 354,585 22,395,589 0.2% # Chemed Corp. 102,071 10,550,059 0.1% # Computer Programs & Systems, Inc. 75,596 4,761,036 0.1% CONMED Corp. 121,090 5,084,569 0.1% (Degree)# Contra Furiex Pharmaceuticals 22,027 215,204 0.0% #* Corcept Therapeutics, Inc. 59,506 193,394 0.0% * Corvel Corp. 116,223 4,000,396 0.0% * Cross Country Healthcare, Inc. 203,057 1,963,561 0.0% CryoLife, Inc. 164,792 1,690,766 0.0% #* Cumberland Pharmaceuticals, Inc. 140,275 687,347 0.0% #* Cutera, Inc. 87,984 923,832 0.0% * Cyberonics, Inc. 174,633 9,168,232 0.1% * Cynosure, Inc. Class A 175,359 4,434,829 0.1% #* Cytokinetics, Inc. 29,220 107,237 0.0% Daxor Corp. 14,561 93,409 0.0% #* Depomed, Inc. 368,459 5,674,269 0.1% Digirad Corp. 120,709 519,049 0.0% #* Discovery Laboratories, Inc. 1,415 2,589 0.0% #* Durect Corp. 120,100 87,673 0.0% #* Emergent Biosolutions, Inc. 244,347 5,527,129 0.1% Ensign Group, Inc. (The) 136,854 5,298,987 0.1% #* EnteroMedics, Inc. 3,200 4,288 0.0% * Enzo Biochem, Inc. 184,277 961,926 0.0% #* EPIRUS Biopharmaceuticals, Inc. 353 1,747 0.0% #* Exact Sciences Corp. 80,468 1,936,865 0.0% * Exactech, Inc. 50,607 1,077,929 0.0% #* ExamWorks Group, Inc. 211,378 8,197,239 0.1% #* Fibrocell Science, Inc. 3,711 10,391 0.0% * Five Star Quality Care, Inc. 221,308 914,002 0.0% #* Galena Biopharma, Inc. 84 172 0.0% * Gentiva Health Services, Inc. 173,978 3,427,367 0.0% #* Globus Medical, Inc. Class A 445,999 9,887,798 0.1% * Greatbatch, Inc. 163,357 8,198,888 0.1% * Haemonetics Corp. 315,536 11,902,018 0.1% #* Hanger, Inc. 213,405 5,106,782 0.1% #* Harvard Apparatus Regenerative Technology, Inc. 33,977 213,376 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Health Care -- (Continued) * Harvard Bioscience, Inc. 144,575 $ 693,960 0.0% * Health Net, Inc. 485,957 23,087,817 0.3% # HealthSouth Corp. 436,208 17,592,269 0.2% * HealthStream, Inc. 99,925 3,093,678 0.0% #* Healthways, Inc. 239,912 3,718,636 0.0% Hill-Rom Holdings, Inc. 407,682 18,133,695 0.2% #* HMS Holdings Corp. 243,099 5,647,190 0.1% * Hooper Holmes, Inc. 832,149 457,682 0.0% * Hyperion Therapeutics, Inc. 14,313 347,806 0.0% * ICU Medical, Inc. 100,401 7,118,431 0.1% #* Idera Pharmaceuticals, Inc. 146,982 374,804 0.0% * Impax Laboratories, Inc. 491,248 14,231,455 0.2% #* Infinity Pharmaceuticals, Inc. 123,598 1,683,405 0.0% #* InfuSystems Holdings, Inc. 3,500 13,790 0.0% #* Insys Therapeutics, Inc. 133,801 5,442,356 0.1% #* Integra LifeSciences Holdings Corp. 210,276 10,747,206 0.1% Invacare Corp. 184,158 2,893,122 0.0% #* IPC The Hospitalist Co., Inc. 105,844 4,409,461 0.1% * Iridex Corp. 4,691 36,684 0.0% Kewaunee Scientific Corp. 10,935 190,269 0.0% Kindred Healthcare, Inc. 415,262 9,031,948 0.1% # Landauer, Inc. 45,158 1,616,205 0.0% #* Lannett Co., Inc. 253,044 14,352,656 0.2% # LeMaitre Vascular, Inc. 98,353 719,944 0.0% #* LHC Group, Inc. 82,789 2,015,912 0.0% * LifePoint Hospitals, Inc. 236,483 16,553,810 0.2% #* Ligand Pharmaceuticals, Inc. Class B 140,756 7,779,584 0.1% #* Luminex Corp. 134,126 2,548,394 0.0% * Magellan Health Services, Inc. 187,131 11,325,168 0.1% * Masimo Corp. 366,491 9,250,233 0.1% #* Mast Therapeutics, Inc. 76,900 39,134 0.0% * MedAssets, Inc. 371,225 8,040,733 0.1% (Degree)* MedCath Corp. 65,962 -- 0.0% * Medicines Co. (The) 413,859 10,478,910 0.1% #* MediciNova, Inc. 25,896 92,449 0.0% * Merge Healthcare, Inc. 53,790 147,922 0.0% # Meridian Bioscience, Inc. 232,617 4,312,719 0.1% * Merit Medical Systems, Inc. 242,967 3,680,950 0.0% * MGC Diagnostics Corp. 215 1,475 0.0% * Misonix, Inc. 86,409 1,154,424 0.0% * Molina Healthcare, Inc. 352,768 17,158,636 0.2% #* Momenta Pharmaceuticals, Inc. 303,356 3,309,614 0.0% #* MWI Veterinary Supply, Inc. 52,394 8,888,904 0.1% #* Myriad Genetics, Inc. 502,527 19,844,791 0.2% National Healthcare Corp. 42,718 2,576,323 0.0% #* National Research Corp. Class A 88,416 1,404,930 0.0% #* National Research Corp. Class B 14,736 482,162 0.0% #* Natus Medical, Inc. 233,927 7,953,518 0.1% #* Neogen Corp. 99,867 4,384,161 0.1% * NuVasive, Inc. 322,282 13,181,334 0.1% * Omnicell, Inc. 236,534 7,642,414 0.1% #* OncoGenex Pharmaceutical, Inc. 11,746 26,311 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Health Care -- (Continued) #* Oncothyreon, Inc. 7,277 $ 13,099 0.0% #* Opko Health, Inc. 93,468 780,458 0.0% * OraSure Technologies, Inc. 102,398 916,462 0.0% * Orthofix International NV 113,196 3,322,303 0.0% # Owens & Minor, Inc. 451,284 15,036,783 0.2% #* Pacific Biosciences of California, Inc. 79,858 523,868 0.0% #* Pacira Pharmaceuticals, Inc. 4,095 380,098 0.0% * Pain Therapeutics, Inc. 203,822 354,650 0.0% Paratek Pharmaceuticals, Inc. 6,149 99,919 0.0% #* PAREXEL International Corp. 364,006 19,769,166 0.2% * PDI, Inc. 127,587 232,208 0.0% # PDL BioPharma, Inc. 697,874 5,952,865 0.1% #* Pernix Therapeutics Holdings, Inc. 65,748 641,043 0.0% * PharMerica Corp. 196,882 5,648,545 0.1% #* PhotoMedex, Inc. 17,948 68,920 0.0% # Pozen, Inc. 168,990 1,532,739 0.0% * Prestige Brands Holdings, Inc. 355,519 12,592,483 0.1% #* Progenics Pharmaceuticals, Inc. 149,791 723,491 0.0% * ProPhase Labs, Inc. 15,982 22,215 0.0% #* Providence Service Corp. (The) 101,248 4,473,137 0.1% #* pSivida Corp. 18,377 72,405 0.0% Psychemedics Corp. 6,901 99,650 0.0% # Quality Systems, Inc. 397,362 6,004,140 0.1% #* Quidel Corp. 148,605 4,242,673 0.1% * RadNet, Inc. 246,240 2,290,032 0.0% * Receptos, Inc. 36,944 3,829,246 0.0% #* Repligen Corp. 237,910 6,000,090 0.1% #* Repros Therapeutics, Inc. 6,764 42,884 0.0% #* Rigel Pharmaceuticals, Inc. 339,496 672,202 0.0% #* RTI Surgical, Inc. 334,711 1,703,679 0.0% #* RXi Pharmaceuticals Corp. 2 4 0.0% #* Sagent Pharmaceuticals, Inc. 104,406 3,303,406 0.0% * Sciclone Pharmaceuticals, Inc. 371,237 2,836,251 0.0% Select Medical Holdings Corp. 895,605 12,914,624 0.1% Simulations Plus, Inc. 35,178 223,029 0.0% * Skilled Healthcare Group, Inc. Class A 114,143 791,011 0.0% Span-America Medical Systems, Inc. 12,193 229,838 0.0% #* Special Diversified Opportunities, Inc. 1,950 2,321 0.0% #* Spectrum Pharmaceuticals, Inc. 280,684 2,127,585 0.0% #* Staar Surgical Co. 64,251 614,882 0.0% #* StemCells, Inc. 10,349 12,315 0.0% * Stereotaxis, Inc. 8,630 17,087 0.0% STERIS Corp. 354,414 21,902,785 0.2% #* Sucampo Pharmaceuticals, Inc. Class A 112,510 969,836 0.0% #* SurModics, Inc. 81,334 1,760,881 0.0% * Symmetry Medical, Inc. 232,530 2,302,047 0.0% #* Targacept, Inc. 45,419 106,280 0.0% * Team Health Holdings, Inc. 313,378 19,598,660 0.2% * Thoratec Corp. 172,027 4,675,694 0.1% #* Threshold Pharmaceuticals, Inc. 10,400 30,472 0.0% #* Tornier NV 209,268 5,849,041 0.1% * TransEnterix, Inc. 5,765 23,637 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Health Care -- (Continued) * Triple-S Management Corp. Class B 126,097 $ 2,791,788 0.0% * Universal American Corp. 375,334 3,498,113 0.0% * Uroplasty, Inc. 12,442 31,105 0.0% US Physical Therapy, Inc. 63,115 2,723,412 0.0% # Utah Medical Products, Inc. 17,665 1,003,372 0.0% #* Vascular Solutions, Inc. 100,661 2,960,440 0.0% * VCA, Inc. 609,114 27,757,325 0.3% #* Verastem, Inc. 1,138 10,800 0.0% * Vical, Inc. 12,783 15,979 0.0% #* Volcano Corp. 16,523 167,213 0.0% * WellCare Health Plans, Inc. 155,366 10,544,690 0.1% # West Pharmaceutical Services, Inc. 353,188 18,100,885 0.2% #* Wright Medical Group, Inc. 255,723 8,085,961 0.1% #* XenoPort, Inc. 3,997 27,100 0.0% (Degree)* Xstelos Holdings, Inc. 22,800 7,752 0.0% -------------------- ------------------ Total Health Care 910,953,815 9.8% -------------------- ------------------ Industrials -- (14.2%) # AAON, Inc. 356,284 7,000,981 0.1% AAR Corp. 254,724 6,750,186 0.1% ABM Industries, Inc. 364,520 10,075,333 0.1% # Acacia Research Corp. 215,375 3,876,750 0.1% * ACCO Brands Corp. 381,577 3,140,379 0.0% * Accuride Corp. 169,320 816,122 0.0% # Aceto Corp. 191,076 4,345,068 0.1% # Acme United Corp. 7,500 129,375 0.0% * Active Power, Inc. 77,492 142,585 0.0% Actuant Corp. Class A 447,626 14,185,268 0.2% #* Adept Technology, Inc. 63,689 450,918 0.0% #* Advisory Board Co. (The) 230,561 12,374,209 0.1% * AECOM Technology Corp. 8,242 268,277 0.0% #* Aegion Corp. 246,732 4,520,130 0.1% * AeroCentury Corp. 2,989 33,238 0.0% * Aerovironment, Inc. 153,613 4,708,238 0.1% * Air Transport Services Group, Inc. 298,808 2,444,249 0.0% # Aircastle, Ltd. 213,426 4,072,168 0.1% Alamo Group, Inc. 65,330 2,798,737 0.0% Albany International Corp. Class A 185,515 7,008,757 0.1% # Allegiant Travel Co. 125,044 16,689,623 0.2% (Degree) Allied Defense Group, Inc. 59,074 4,726 0.0% Allied Motion Technologies, Inc. 33,097 485,864 0.0% * Alpha PRO Tech, Ltd. 4,493 15,141 0.0% Altra Industrial Motion Corp. 186,654 5,883,334 0.1% AMERCO 73,355 19,888,008 0.2% #* Ameresco, Inc. Class A 80,576 663,946 0.0% # American Railcar Industries, Inc. 113,169 7,447,652 0.1% # American Science & Engineering, Inc. 48,582 2,686,585 0.0% #* American Superconductor Corp. 57,131 74,842 0.0% * American Woodmark Corp. 91,087 3,726,369 0.0% * AMREP Corp. 8,340 32,443 0.0% # Apogee Enterprises, Inc. 203,001 8,911,744 0.1% # Applied Industrial Technologies, Inc. 288,111 14,062,698 0.2% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) * ARC Document Solutions, Inc. 303,012 $ 3,075,572 0.0% # ArcBest Corp. 165,496 6,404,695 0.1% Argan, Inc. 97,830 3,405,462 0.0% #* Armstrong World Industries, Inc. 109,268 5,290,757 0.1% #* Arotech Corp. 82,319 242,841 0.0% Art's-Way Manufacturing Co., Inc. 400 2,256 0.0% # Astec Industries, Inc. 125,436 4,755,279 0.1% * Astronics Corp. 86,795 4,496,849 0.1% #* Astronics Corp. Class B 33,777 1,746,271 0.0% * Atlas Air Worldwide Holdings, Inc. 163,935 6,052,480 0.1% * Avalon Holdings Corp. Class A 41,336 144,676 0.0% * Avis Budget Group, Inc. 435,404 24,273,773 0.3% # AZZ, Inc. 168,993 7,902,113 0.1% Babcock & Wilcox Co. (The) 4,427 126,612 0.0% # Baltic Trading, Ltd. 149,223 559,586 0.0% Barnes Group, Inc. 348,633 12,746,022 0.1% # Barrett Business Services, Inc. 47,056 1,106,287 0.0% #* Beacon Roofing Supply, Inc. 334,063 9,243,523 0.1% * Blount International, Inc. 415,625 6,363,219 0.1% #* BlueLinx Holdings, Inc. 119,501 143,401 0.0% Brady Corp. Class A 265,847 6,337,792 0.1% * Breeze-Eastern Corp. 41,547 432,504 0.0% # Briggs & Stratton Corp. 312,200 6,309,562 0.1% Brink's Co. (The) 304,603 6,396,663 0.1% #* Builders FirstSource, Inc. 148,034 877,842 0.0% * CAI International, Inc. 103,379 2,176,128 0.0% #* Casella Waste Systems, Inc. Class A 163,502 735,759 0.0% #* CBIZ, Inc. 306,088 2,825,192 0.0% CDI Corp. 73,234 1,258,892 0.0% # Ceco Environmental Corp. 110,262 1,578,952 0.0% Celadon Group, Inc. 148,621 2,892,165 0.0% #* Cenveo, Inc. 24,095 54,937 0.0% #* Chart Industries, Inc. 167,762 7,809,321 0.1% Chicago Rivet & Machine Co. 4,123 127,937 0.0% CIRCOR International, Inc. 115,616 8,688,542 0.1% Civeo Corp. 133,947 1,632,814 0.0% # CLARCOR, Inc. 144,443 9,671,903 0.1% #* Clean Harbors, Inc. 11,700 580,671 0.0% Columbus McKinnon Corp. 119,645 3,403,900 0.0% Comfort Systems USA, Inc. 233,874 3,592,305 0.0% #* Commercial Vehicle Group, Inc. 186,587 1,222,145 0.0% Compx International, Inc. 9,814 109,230 0.0% Con-way, Inc. 413,575 17,936,748 0.2% Conrad Industries, Inc. 6,600 252,450 0.0% Corporate Executive Board Co. (The) 236,769 17,449,875 0.2% Courier Corp. 47,126 639,500 0.0% Covanta Holding Corp. 612,082 13,508,650 0.2% * Covenant Transportation Group, Inc. Class A 158,118 3,279,367 0.0% #* CPI Aerostructures, Inc. 28,946 276,434 0.0% * CRA International, Inc. 38,940 1,168,200 0.0% * CTPartners Executive Search, Inc. 16,673 304,282 0.0% Cubic Corp. 156,852 7,566,540 0.1% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) Curtiss-Wright Corp. 262,497 $ 18,167,417 0.2% # Deluxe Corp. 349,991 21,279,453 0.2% #* DigitalGlobe, Inc. 494,817 14,146,818 0.2% Douglas Dynamics, Inc. 151,575 3,142,150 0.0% * Ducommun, Inc. 69,412 1,833,171 0.0% * DXP Enterprises, Inc. 91,425 6,060,563 0.1% * Dycom Industries, Inc. 228,342 7,167,655 0.1% # Dynamic Materials Corp. 65,489 1,192,555 0.0% Eastern Co. (The) 20,021 326,743 0.0% #* Echo Global Logistics, Inc. 161,870 4,229,663 0.1% Ecology and Environment, Inc. Class A 10,494 103,786 0.0% EMCOR Group, Inc. 356,400 15,727,932 0.2% Encore Wire Corp. 125,932 4,777,860 0.1% #* Energy Recovery, Inc. 163,092 746,961 0.0% # EnerSys 294,357 18,485,620 0.2% * Engility Holdings, Inc. 53,795 2,323,944 0.0% Ennis, Inc. 127,149 1,885,620 0.0% #* EnPro Industries, Inc. 157,887 10,188,448 0.1% * Environmental Tectonics Corp. 7,400 17,390 0.0% EnviroStar, Inc. 7,443 19,352 0.0% #* Erickson, Inc. 953 13,380 0.0% ESCO Technologies, Inc. 152,906 5,813,486 0.1% Espey Manufacturing & Electronics Corp. 13,081 248,539 0.0% * Esterline Technologies Corp. 177,418 20,777,422 0.2% Exelis, Inc. 780,550 13,932,817 0.2% # Exponent, Inc. 82,035 6,548,034 0.1% Federal Signal Corp. 434,599 6,171,306 0.1% Forward Air Corp. 210,430 10,073,284 0.1% #* Franklin Covey Co. 115,399 2,262,974 0.0% # Franklin Electric Co., Inc. 280,506 10,474,094 0.1% FreightCar America, Inc. 80,154 2,642,677 0.0% #* FTI Consulting, Inc. 270,268 10,913,422 0.1% #* Fuel Tech, Inc. 141,056 571,277 0.0% * Furmanite Corp. 231,689 1,733,034 0.0% G&K Services, Inc. Class A 130,107 8,205,848 0.1% GATX Corp. 257,701 16,338,243 0.2% * Gencor Industries, Inc. 5,287 51,231 0.0% #* GenCorp, Inc. 228,340 3,872,646 0.1% #* Generac Holdings, Inc. 285,142 12,928,338 0.1% General Cable Corp. 296,590 4,202,680 0.1% * Gibraltar Industries, Inc. 160,792 2,452,078 0.0% Global Brass & Copper Holdings, Inc. 49,136 687,904 0.0% # Global Power Equipment Group, Inc. 47,303 644,740 0.0% #* Goldfield Corp. (The) 77,899 149,566 0.0% # Gorman-Rupp Co. (The) 132,057 4,191,489 0.1% * GP Strategies Corp. 108,912 3,611,522 0.0% #* GrafTech International, Ltd. 378,624 1,624,297 0.0% # Graham Corp. 54,814 1,836,269 0.0% # Granite Construction, Inc. 262,505 9,689,060 0.1% #* Great Lakes Dredge & Dock Corp. 359,456 2,512,597 0.0% # Greenbrier Cos., Inc. (The) 203,804 12,745,902 0.1% Griffon Corp. 269,390 3,310,803 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) H&E Equipment Services, Inc. 243,486 $ 9,103,942 0.1% Hardinge, Inc. 53,864 604,354 0.0% # Harsco Corp. 549,868 11,921,138 0.1% #* Hawaiian Holdings, Inc. 319,774 5,544,881 0.1% # Healthcare Services Group, Inc. 437,185 13,019,369 0.1% # Heartland Express, Inc. 610,242 15,341,484 0.2% # HEICO Corp. 142,812 7,746,123 0.1% HEICO Corp. Class A 153,946 7,043,030 0.1% Heidrick & Struggles International, Inc. 95,683 1,992,120 0.0% #* Heritage-Crystal Clean, Inc. 6,414 116,350 0.0% # Herman Miller, Inc. 158,182 5,061,824 0.1% * Hill International, Inc. 194,332 754,008 0.0% Hillenbrand, Inc. 433,125 14,418,731 0.2% # HNI Corp. 314,810 14,685,886 0.2% Houston Wire & Cable Co. 136,012 1,844,323 0.0% * Hub Group, Inc. Class A 312,519 11,341,315 0.1% * Hudson Global, Inc. 123,326 420,542 0.0% #* Hudson Technologies, Inc. 3,900 17,394 0.0% Huntington Ingalls Industries, Inc. 27,260 2,884,653 0.0% Hurco Cos., Inc. 33,778 1,301,466 0.0% * Huron Consulting Group, Inc. 162,224 11,292,413 0.1% #* Huttig Building Products, Inc. 100,706 365,563 0.0% Hyster-Yale Materials Handling, Inc. 80,994 6,357,219 0.1% * ICF International, Inc. 101,715 3,696,323 0.0% #* InnerWorkings, Inc. 144,886 1,315,565 0.0% * Innovative Solutions & Support, Inc. 46,017 128,387 0.0% # Insperity, Inc. 169,292 5,342,856 0.1% Insteel Industries, Inc. 100,361 2,392,606 0.0% * Integrated Electrical Services, Inc. 37,023 293,592 0.0% #* Intelligent Systems Corp. 32,937 40,018 0.0% Interface, Inc. 441,899 7,083,641 0.1% # International Shipholding Corp. 18,655 373,846 0.0% # Intersections, Inc. 90,158 360,632 0.0% #* JetBlue Airways Corp. 2,047,846 23,632,143 0.3% # John Bean Technologies Corp. 195,067 5,846,158 0.1% * JPS Industries, Inc. 8,700 61,770 0.0% Kadant, Inc. 37,897 1,566,662 0.0% # Kaman Corp. 175,230 7,545,404 0.1% Kelly Services, Inc. Class A 199,424 3,515,845 0.0% Kelly Services, Inc. Class B 350 5,294 0.0% * Key Technology, Inc. 20,756 274,809 0.0% #* KEYW Holding Corp. (The) 16,970 172,246 0.0% # Kforce, Inc. 224,793 5,203,958 0.1% Kimball International, Inc. Class B 173,163 3,113,471 0.0% # Knight Transportation, Inc. 603,555 17,660,019 0.2% Knoll, Inc. 316,927 6,303,678 0.1% * Korn/Ferry International 350,220 9,781,645 0.1% #* Kratos Defense & Security Solutions, Inc. 385,584 2,687,520 0.0% # Landstar System, Inc. 301,440 22,309,574 0.2% * Lawson Products, Inc. 35,060 844,245 0.0% #* Layne Christensen Co. 106,626 767,707 0.0% # LB Foster Co. Class A 52,658 2,848,271 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) # Lindsay Corp. 78,825 $ 6,912,953 0.1% #* LMI Aerospace, Inc. 69,461 915,496 0.0% LS Starrett Co. (The) Class A 31,156 460,486 0.0% LSI Industries, Inc. 99,145 709,878 0.0% * Luna Innovations, Inc. 6,456 8,780 0.0% * Lydall, Inc. 68,607 2,122,015 0.0% #* Magnetek, Inc. 38,959 1,210,456 0.0% #* Manitex International, Inc. 6,890 78,753 0.0% # Manitowoc Co., Inc. (The) 739,632 15,413,931 0.2% Marten Transport, Ltd. 208,354 4,087,905 0.1% #* MasTec, Inc. 519,426 14,876,361 0.2% Mastech Holdings, Inc. 2,673 31,408 0.0% Matson, Inc. 273,034 7,778,739 0.1% # Matthews International Corp. Class A 190,867 8,795,151 0.1% # McGrath RentCorp 110,867 4,049,972 0.1% #* Meritor, Inc. 728,932 8,375,429 0.1% * Mfri, Inc. 39,691 361,982 0.0% * Middleby Corp. (The) 17,221 1,524,059 0.0% # Miller Industries, Inc. 61,388 1,213,641 0.0% * Mistras Group, Inc. 139,480 2,300,025 0.0% # Mobile Mini, Inc. 316,798 13,885,256 0.2% * Moog, Inc. Class A 225,647 17,271,021 0.2% * Moog, Inc. Class B 10,012 764,016 0.0% * MRC Global, Inc. 133,029 2,797,600 0.0% MSA Safety, Inc. 252,495 14,510,888 0.2% Mueller Industries, Inc. 396,246 12,862,145 0.1% Mueller Water Products, Inc. Class A 1,106,616 10,922,300 0.1% # Multi-Color Corp. 79,660 3,927,238 0.1% * MYR Group, Inc. 137,487 3,566,413 0.0% # National Presto Industries, Inc. 27,933 1,761,455 0.0% * Navigant Consulting, Inc. 278,338 4,283,622 0.1% #* NCI Building Systems, Inc. 22,318 443,459 0.0% # NL Industries, Inc. 150,263 1,095,417 0.0% NN, Inc. 117,955 2,948,875 0.0% #* Nortek, Inc. 13,330 1,110,122 0.0% * Northwest Pipe Co. 58,333 2,087,155 0.0% #* Ocean Power Technologies, Inc. 34,916 34,916 0.0% #* Odyssey Marine Exploration, Inc. 125,767 148,405 0.0% # Omega Flex, Inc. 25,792 686,583 0.0% * On Assignment, Inc. 294,208 8,561,453 0.1% #* Orbit International Corp. 1,977 4,943 0.0% * Orbital Sciences Corp. 417,575 10,982,222 0.1% * Orion Energy Systems, Inc. 89,235 513,101 0.0% #* Orion Marine Group, Inc. 99,061 1,085,709 0.0% #* PAM Transportation Services, Inc. 38,767 1,666,206 0.0% Park-Ohio Holdings Corp. 71,680 3,806,925 0.0% * Patrick Industries, Inc. 71,967 3,074,430 0.0% #* Patriot Transportation Holding, Inc. 38,246 1,620,101 0.0% * Pendrell Corp. 161,066 268,980 0.0% #* Performant Financial Corp. 270,326 2,332,913 0.0% * PGT, Inc. 323,798 3,045,320 0.0% * Pike Corp. 166,625 1,989,503 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) #* Plug Power, Inc. 66,963 $ 315,396 0.0% #* Ply Gem Holdings, Inc. 7,033 79,825 0.0% #* PMFG, Inc. 35,785 188,229 0.0% #* Polypore International, Inc. 222,806 9,785,640 0.1% # Powell Industries, Inc. 67,646 3,079,922 0.0% #* PowerSecure International, Inc. 152,483 1,703,235 0.0% # Preformed Line Products Co. 22,931 1,306,838 0.0% Primoris Services Corp. 340,981 9,792,974 0.1% #* Proto Labs, Inc. 165,838 10,840,830 0.1% Providence and Worcester Railroad Co. 5,591 99,464 0.0% Quad/Graphics, Inc. 17,075 376,504 0.0% * Quality Distribution, Inc. 191,497 2,481,801 0.0% Quanex Building Products Corp. 235,576 4,716,232 0.1% #* Radiant Logistics, Inc. 24,782 95,906 0.0% # Raven Industries, Inc. 261,408 6,626,693 0.1% # RBC Bearings, Inc. 143,601 8,723,761 0.1% * RCM Technologies, Inc. 146,273 1,102,898 0.0% #* Real Goods Solar, Inc. Class A 2,817 2,268 0.0% Regal-Beloit Corp. 3,548 251,802 0.0% #* Republic Airways Holdings, Inc. 262,204 3,282,794 0.0% Resources Connection, Inc. 231,115 3,575,349 0.0% #* Rexnord Corp. 450,479 13,311,654 0.2% #* Roadrunner Transportation Systems, Inc. 217,939 4,491,723 0.1% * RPX Corp. 335,248 4,710,234 0.1% # RR Donnelley & Sons Co. 481,550 8,403,048 0.1% #* Rush Enterprises, Inc. Class A 186,396 7,101,688 0.1% * Rush Enterprises, Inc. Class B 37,831 1,223,076 0.0% * Saia, Inc. 171,346 8,399,381 0.1% * Servotronics, Inc. 1,500 9,615 0.0% SIFCO Industries, Inc. 18,366 624,811 0.0% Simpson Manufacturing Co., Inc. 330,468 10,931,881 0.1% SkyWest, Inc. 255,006 2,937,669 0.0% * SL Industries, Inc. 23,596 1,061,820 0.0% SmartPros, Ltd. 10,300 17,304 0.0% * SP Plus Corp. 77,936 1,700,564 0.0% * Sparton Corp. 45,403 1,230,421 0.0% * Spirit Airlines, Inc. 478,914 35,013,403 0.4% #* Standard Register Co. (The) 29,933 153,257 0.0% Standex International Corp. 80,829 6,971,501 0.1% Steelcase, Inc. Class A 632,726 11,211,905 0.1% #* Sterling Construction Co., Inc. 73,675 649,814 0.0% # Sun Hydraulics Corp. 147,895 5,887,700 0.1% # Supreme Industries, Inc. Class A 113,237 753,026 0.0% #* Swift Transportation Co. 581,799 14,370,435 0.2% # TAL International Group, Inc. 221,561 9,555,926 0.1% #* Taser International, Inc. 372,885 7,025,153 0.1% * Team, Inc. 114,892 4,841,549 0.1% #* Tecumseh Products Co. 51,718 190,839 0.0% * Tel-Instrument Electronics Corp. 8,400 44,520 0.0% * Teledyne Technologies, Inc. 60,976 6,318,943 0.1% Tennant Co. 119,418 8,804,689 0.1% Tetra Tech, Inc. 434,590 11,651,358 0.1% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) Textainer Group Holdings, Ltd. 238,948 $ 8,229,369 0.1% * Thermon Group Holdings, Inc. 120,011 2,924,668 0.0% # Titan International, Inc. 329,513 3,479,657 0.0% #* Titan Machinery, Inc. 99,135 1,364,098 0.0% Toro Co. (The) 149,478 9,227,277 0.1% * Transcat, Inc. 5,600 58,856 0.0% * TRC Cos., Inc. 357,086 2,599,586 0.0% #* Trex Co., Inc. 227,079 9,764,397 0.1% * Trimas Corp. 296,560 9,389,090 0.1% # Trinity Industries, Inc. 68,882 2,459,776 0.0% * TrueBlue, Inc. 288,014 7,119,706 0.1% * Tutor Perini Corp. 318,648 8,925,330 0.1% # Twin Disc, Inc. 61,248 1,593,673 0.0% * Ultralife Corp. 60,836 192,850 0.0% UniFirst Corp. 95,238 10,624,751 0.1% # United Stationers, Inc. 259,598 10,843,408 0.1% Universal Forest Products, Inc. 116,688 5,830,899 0.1% # Universal Truckload Services, Inc. 57,124 1,503,504 0.0% # US Ecology, Inc. 146,905 7,386,383 0.1% #* USA Truck, Inc. 40,231 679,904 0.0% #* UTi Worldwide, Inc. 699,029 7,640,387 0.1% #* Vectrus, Inc. 43,363 1,059,792 0.0% * Versar, Inc. 27,782 90,292 0.0% Viad Corp. 122,897 3,135,102 0.0% * Vicor Corp. 107,188 1,458,829 0.0% * Virco Manufacturing Corp. 30,131 81,655 0.0% * Volt Information Sciences, Inc. 119,747 992,703 0.0% VSE Corp. 12,848 774,477 0.0% #* Wabash National Corp. 480,481 4,948,954 0.1% Watsco, Inc. 3,733 379,347 0.0% Watsco, Inc. Class B 12,022 1,232,435 0.0% # Watts Water Technologies, Inc. Class A 201,793 12,234,710 0.1% # Werner Enterprises, Inc. 501,239 13,804,122 0.2% #* Wesco Aircraft Holdings, Inc. 302,542 5,370,121 0.1% # West Corp. 102,696 3,286,272 0.0% #* Willdan Group, Inc. 48,077 630,770 0.0% * Willis Lease Finance Corp. 26,350 601,044 0.0% # Woodward, Inc. 56,121 2,873,956 0.0% WSI Industries, Inc. 1,900 12,692 0.0% * Xerium Technologies, Inc. 17,138 255,699 0.0% #* XPO Logistics, Inc. 94,284 3,763,817 0.0% -------------------- ------------------ Total Industrials 1,632,430,630 17.7% -------------------- ------------------ Information Technology -- (15.1%) #* ACI Worldwide, Inc. 806,776 15,522,370 0.2% #* Acorn Energy, Inc. 81,749 85,836 0.0% * Actua Corp. 226,496 4,258,125 0.1% #* Actuate Corp. 286,143 1,227,553 0.0% * Acxiom Corp. 519,292 9,783,461 0.1% * ADDvantage Technologies Group, Inc. 6,085 14,665 0.0% # ADTRAN, Inc. 387,027 8,208,843 0.1% * Advanced Energy Industries, Inc. 285,651 5,650,177 0.1% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) #* Advanced Micro Devices, Inc. 786,458 $ 2,202,082 0.0% # Advent Software, Inc. 360,059 12,443,639 0.1% #* Aehr Test Systems 11,205 29,021 0.0% * Aetrium, Inc. 721 2,538 0.0% #* Agilysys, Inc. 196,530 2,220,789 0.0% # Alliance Fiber Optic Products, Inc. 36,954 477,076 0.0% #* Alpha & Omega Semiconductor, Ltd. 29,288 271,500 0.0% American Software, Inc. Class A 149,523 1,444,392 0.0% * Amkor Technology, Inc. 1,253,479 8,498,588 0.1% * Amtech Systems, Inc. 43,952 462,815 0.0% #* ANADIGICS, Inc. 265,907 188,794 0.0% Anixter International, Inc. 182,184 15,516,611 0.2% * AOL, Inc. 45,260 1,970,168 0.0% * ARRIS Group, Inc. 629,730 18,904,495 0.2% #* Ascent Solar Technologies, Inc. 10,079 17,739 0.0% #* Astea International, Inc. 2,800 4,172 0.0% Astro-Med, Inc. 30,318 406,564 0.0% * Atmel Corp. 234,760 1,741,919 0.0% #* Audience, Inc. 21,927 81,788 0.0% * Autobytel, Inc. 118,054 1,090,819 0.0% * AVG Technologies NV 334,751 5,998,738 0.1% #* Aviat Networks, Inc. 234,019 411,873 0.0% * Avid Technology, Inc. 147,790 1,485,290 0.0% AVX Corp. 91,716 1,324,379 0.0% Aware, Inc. 93,729 404,909 0.0% * Axcelis Technologies, Inc. 422,206 920,409 0.0% * AXT, Inc. 189,435 447,067 0.0% # Badger Meter, Inc. 91,502 5,208,294 0.1% #* Bankrate, Inc. 360,534 3,915,399 0.1% #* Bazaarvoice, Inc. 87,690 653,291 0.0% Bel Fuse, Inc. Class A 8,954 227,432 0.0% Bel Fuse, Inc. Class B 42,028 1,188,972 0.0% Belden, Inc. 276,789 19,704,609 0.2% * Benchmark Electronics, Inc. 243,068 5,765,573 0.1% Black Box Corp. 86,422 1,900,420 0.0% # Blackbaud, Inc. 276,761 12,315,864 0.1% #* Blackhawk Network Holdings, Inc. 8,593 296,974 0.0% #* Blackhawk Network Holdings, Inc. Class B 174,738 5,836,249 0.1% * Blonder Tongue Laboratories 22,536 23,437 0.0% #* Blucora, Inc. 272,708 4,622,401 0.1% (Degree)* Bogen Corp. 11,900 -- 0.0% # Booz Allen Hamilton Holding Corp. 237,615 6,261,155 0.1% * Bottomline Technologies de, Inc. 210,336 5,277,330 0.1% #* BroadVision, Inc. 18,154 144,506 0.0% Brooks Automation, Inc. 444,484 5,480,488 0.1% * Bsquare Corp. 35,768 139,853 0.0% * BTU International, Inc. 36,244 120,693 0.0% * Cabot Microelectronics Corp. 163,855 7,902,727 0.1% #* CACI International, Inc. Class A 166,085 13,667,135 0.2% #* CalAmp Corp. 425,510 8,203,833 0.1% * Calix, Inc. 340,350 3,679,183 0.1% #* Carbonite, Inc. 26,575 290,731 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) #* Cardtronics, Inc. 293,143 $ 11,253,760 0.1% * Cartesian, Inc. 42,154 164,822 0.0% * Cascade Microtech, Inc. 83,658 898,487 0.0% # Cass Information Systems, Inc. 43,567 2,071,175 0.0% * Ceva, Inc. 132,016 2,151,861 0.0% * Checkpoint Systems, Inc. 225,998 2,996,733 0.0% #* ChyronHego Corp. 1,822 5,211 0.0% * CIBER, Inc. 420,483 1,374,979 0.0% #* Cirrus Logic, Inc. 445,829 8,604,500 0.1% #* Clearfield, Inc. 89,369 1,311,937 0.0% #* Cognex Corp. 466,487 18,454,226 0.2% * Coherent, Inc. 157,315 10,249,072 0.1% Cohu, Inc. 131,910 1,345,482 0.0% (Degree)* Commerce One, LLC 45,000 -- 0.0% Communications Systems, Inc. 32,263 381,671 0.0% * CommVault Systems, Inc. 2,320 102,869 0.0% Computer Task Group, Inc. 89,573 788,242 0.0% Compuware Corp. 1,248,365 12,670,905 0.1% * comScore, Inc. 36,030 1,518,304 0.0% Comtech Telecommunications Corp. 107,619 4,097,055 0.1% * Comverse, Inc. 50,973 1,111,211 0.0% Concurrent Computer Corp. 42,599 302,453 0.0% * Constant Contact, Inc. 213,704 7,556,573 0.1% # Convergys Corp. 527,042 10,630,437 0.1% #* Conversant, Inc. 480,527 16,938,577 0.2% * CoreLogic, Inc. 486,904 15,274,178 0.2% * Covisint Corp. 175,089 506,007 0.0% #* Cray, Inc. 232,917 8,072,903 0.1% #* Crexendo, Inc. 23,717 67,238 0.0% # CSG Systems International, Inc. 237,000 6,282,870 0.1% CSP, Inc. 8,385 66,828 0.0% CTS Corp. 203,510 3,744,584 0.1% #* CVD Equipment Corp. 10,329 115,168 0.0% * CyberOptics Corp. 28,233 258,332 0.0% Daktronics, Inc. 275,133 3,662,020 0.1% * Data I/O Corp. 7,300 24,601 0.0% #* Datalink Corp. 122,881 1,554,445 0.0% #* Dataram Corp. 4,244 9,209 0.0% #* Datawatch Corp. 3,832 42,344 0.0% #* Dealertrack Technologies, Inc. 329,239 15,490,695 0.2% #* Demand Media, Inc. 23,825 167,728 0.0% * Dice Holdings, Inc. 421,821 4,205,555 0.1% # Diebold, Inc. 347,049 12,295,946 0.1% * Digi International, Inc. 121,445 1,005,565 0.0% # Digimarc Corp. 27,972 810,908 0.0% * Digital River, Inc. 199,689 5,106,048 0.1% * Diodes, Inc. 311,266 8,040,001 0.1% * Dot Hill Systems Corp. 691,220 2,730,319 0.0% * DSP Group, Inc. 135,682 1,314,759 0.0% * DTS, Inc. 104,652 3,116,537 0.0% # EarthLink Holdings Corp. 618,649 2,214,763 0.0% #* Eastman Kodak Co. 400 8,628 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) # Ebix, Inc. 169,396 $ 2,498,591 0.0% #* Echelon Corp. 65,523 137,598 0.0% * Edgewater Technology, Inc. 43,768 309,002 0.0% #* Elecsys Corp. 10,067 103,287 0.0% Electro Rent Corp. 106,730 1,626,565 0.0% # Electro Scientific Industries, Inc. 126,816 900,394 0.0% * Electronics for Imaging, Inc. 341,451 15,611,140 0.2% #* Ellie Mae, Inc. 164,524 6,314,431 0.1% #* eMagin Corp. 63,552 168,413 0.0% * Emcore Corp. 140,341 724,160 0.0% #* Emulex Corp. 519,035 2,937,738 0.0% #* EnerNOC, Inc. 207,689 3,067,567 0.0% * Entegris, Inc. 949,175 12,889,796 0.2% #* Entropic Communications, Inc. 482,137 1,205,343 0.0% #* Envestnet, Inc. 15,866 704,768 0.0% #* Envivio, Inc. 3,100 4,867 0.0% #* EPAM Systems, Inc. 333,841 15,937,569 0.2% EPIQ Systems, Inc. 175,359 2,812,758 0.0% * ePlus, Inc. 24,069 1,469,894 0.0% #* Euronet Worldwide, Inc. 365,226 19,601,679 0.2% # Evolving Systems, Inc. 5,500 59,950 0.0% #* Exar Corp. 246,504 2,354,113 0.0% * ExlService Holdings, Inc. 196,734 5,506,585 0.1% #* Extreme Networks, Inc. 495,993 1,780,615 0.0% #* Fabrinet 166,933 3,039,850 0.0% # Fair Isaac Corp. 236,011 14,703,485 0.2% #* Fairchild Semiconductor International, Inc. 860,695 13,211,668 0.2% * FalconStor Software, Inc. 137,274 155,120 0.0% * FARO Technologies, Inc. 116,128 6,503,168 0.1% FEI Co. 36,643 3,088,272 0.0% #* Finisar Corp. 292,780 4,895,282 0.1% * FormFactor, Inc. 350,964 2,797,183 0.0% Forrester Research, Inc. 117,656 4,739,184 0.1% * Frequency Electronics, Inc. 47,309 536,957 0.0% #* Giga-tronics, Inc. 3,942 6,504 0.0% * GigOptix, Inc. 17,782 22,228 0.0% * Global Cash Access Holdings, Inc. 449,969 3,280,274 0.0% # Globalscape, Inc. 27,873 69,125 0.0% #* GSE Systems, Inc. 72,970 110,185 0.0% * GSI Group, Inc. 76,988 989,296 0.0% * GSI Technology, Inc. 67,635 325,324 0.0% * GTT Communications, Inc. 17,341 225,086 0.0% #* Guidance Software, Inc. 38,429 258,627 0.0% Hackett Group, Inc. (The) 190,459 1,335,118 0.0% * Harmonic, Inc. 635,092 4,236,064 0.1% # Heartland Payment Systems, Inc. 275,092 14,208,502 0.2% #* Higher One Holdings, Inc. 99,674 256,162 0.0% #* HomeAway, Inc. 67,102 2,341,860 0.0% #* Hutchinson Technology, Inc. 196,711 702,258 0.0% * ID Systems, Inc. 38,571 289,283 0.0% * Identiv, Inc. 12,847 120,119 0.0% * IEC Electronics Corp. 33,539 166,018 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) * iGATE Corp. 386,868 $ 14,333,459 0.2% * II-VI, Inc. 320,641 4,325,447 0.1% #* Imation Corp. 171,509 502,521 0.0% #* Immersion Corp. 91,211 767,997 0.0% #* Infinera Corp. 729,108 10,593,939 0.1% * Innodata, Inc. 91,165 240,676 0.0% * Inphi Corp. 100,004 1,548,062 0.0% * Insight Enterprises, Inc. 269,806 6,138,086 0.1% * Integrated Device Technology, Inc. 1,110,650 18,225,766 0.2% Integrated Silicon Solution, Inc. 173,139 2,351,228 0.0% #* Intellicheck Mobilisa, Inc. 2,628 9,855 0.0% #* Interactive Intelligence Group, Inc. 70,851 3,419,269 0.0% # InterDigital, Inc. 271,544 13,422,420 0.2% #* Internap Network Services Corp. 343,984 2,755,312 0.0% * International Rectifier Corp. 472,058 18,773,747 0.2% * Internet Patents Corp. 1,533 4,691 0.0% #* Interphase Corp. 23,732 69,535 0.0% Intersil Corp. Class A 907,289 12,057,871 0.1% * inTEST Corp. 43,077 187,816 0.0% #* Intevac, Inc. 116,096 859,110 0.0% * IntraLinks Holdings, Inc. 165,387 1,428,944 0.0% * IntriCon Corp. 23,513 144,135 0.0% #* iPass, Inc. 479,670 642,758 0.0% * Iteris, Inc. 19,424 33,798 0.0% #* Itron, Inc. 260,998 10,160,652 0.1% * Ixia 436,974 4,208,060 0.1% # IXYS Corp. 163,319 1,905,933 0.0% # j2 Global, Inc. 332,553 17,987,792 0.2% #* JDS Uniphase Corp. 826,723 11,127,692 0.1% * Kemet Corp. 226,006 1,084,829 0.0% * Key Tronic Corp. 50,515 415,233 0.0% #* Knowles Corp. 122,109 2,376,241 0.0% #* Kofax, Ltd. 55,404 351,815 0.0% #* Kopin Corp. 356,043 1,352,963 0.0% * Kulicke & Soffa Industries, Inc. 507,646 7,320,255 0.1% #* KVH Industries, Inc. 112,894 1,458,590 0.0% * Lantronix, Inc. 2,333 4,596 0.0% * Lattice Semiconductor Corp. 822,649 5,519,975 0.1% Leidos Holdings, Inc. 44,904 1,642,139 0.0% # Lexmark International, Inc. Class A 459,716 19,841,343 0.2% * LGL Group, Inc. (The) 7,103 26,920 0.0% #* Lightpath Technologies, Inc. Class A 1,850 2,516 0.0% * Limelight Networks, Inc. 545,675 1,331,447 0.0% * Lionbridge Technologies, Inc. 408,558 1,973,335 0.0% #* Liquidity Services, Inc. 2,870 36,679 0.0% Littelfuse, Inc. 153,695 14,991,410 0.2% #* LoJack Corp. 88,416 249,333 0.0% #* M/A-COM Technology Solutions Holdings, Inc. 19,317 424,781 0.0% * Magnachip Semiconductor Corp. 221,315 2,463,236 0.0% * Manhattan Associates, Inc. 530,401 21,274,384 0.2% # ManTech International Corp. Class A 145,153 4,087,508 0.1% Marchex, Inc. Class B 103,240 395,409 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) #* Mattersight Corp. 26,897 $ 145,782 0.0% * Mattson Technology, Inc. 108,364 288,248 0.0% MAXIMUS, Inc. 410,048 19,870,926 0.2% * MaxLinear, Inc. Class A 23,006 163,113 0.0% #* Maxwell Technologies, Inc. 203,275 2,370,186 0.0% #* MeetMe, Inc. 16,285 32,244 0.0% # Mentor Graphics Corp. 802,222 16,999,084 0.2% * Mercury Systems, Inc. 230,497 3,222,348 0.0% # Mesa Laboratories, Inc. 22,048 1,683,806 0.0% Methode Electronics, Inc. 280,326 11,039,238 0.1% Micrel, Inc. 412,866 5,012,193 0.1% * Microsemi Corp. 649,280 16,926,730 0.2% * MicroStrategy, Inc. Class A 1,105 177,772 0.0% MKS Instruments, Inc. 359,086 13,070,730 0.2% MOCON, Inc. 23,794 367,141 0.0% #* ModusLink Global Solutions, Inc. 156,445 547,558 0.0% #* MoneyGram International, Inc. 45,180 388,548 0.0% Monolithic Power Systems, Inc. 203,499 8,992,621 0.1% # Monotype Imaging Holdings, Inc. 264,407 7,564,684 0.1% * Monster Worldwide, Inc. 607,946 2,346,672 0.0% #* MoSys, Inc. 167,152 449,639 0.0% #* Move, Inc. 233,364 4,888,976 0.1% #* MRV Communications, Inc. 34,710 399,859 0.0% # MTS Systems Corp. 97,294 6,422,377 0.1% * Multi-Fineline Electronix, Inc. 97,676 991,411 0.0% #* Nanometrics, Inc. 175,610 2,377,759 0.0% * NAPCO Security Technologies, Inc. 40,054 171,431 0.0% * NCI, Inc. Class A 32,877 334,688 0.0% * NeoPhotonics Corp. 9,702 31,434 0.0% * NETGEAR, Inc. 219,060 7,456,802 0.1% #* Netlist, Inc. 64,943 59,267 0.0% * Netscout Systems, Inc. 295,902 10,906,948 0.1% * Newport Corp. 248,107 4,438,634 0.1% #* Newtek Business Services, Inc. 25,260 356,166 0.0% NIC, Inc. 366,294 6,750,798 0.1% #* Novatel Wireless, Inc. 157,129 447,818 0.0% #* Numerex Corp. Class A 47,759 622,777 0.0% #* Oclaro, Inc. 263,176 413,186 0.0% * OmniVision Technologies, Inc. 366,899 9,825,555 0.1% * Omtool, Ltd. 3,470 8,241 0.0% #* Onvia, Inc. 2,306 10,054 0.0% Oplink Communications, Inc. 110,881 2,311,869 0.0% Optical Cable Corp. 26,264 121,865 0.0% * OSI Systems, Inc. 134,744 9,550,655 0.1% #* Overland Storage, Inc. 12,477 32,565 0.0% * PAR Technology Corp. 56,394 289,809 0.0% Park Electrochemical Corp. 104,241 2,689,418 0.0% #* Parkervision, Inc. 71,039 93,061 0.0% PC Connection, Inc. 50,404 1,202,135 0.0% PC-Tel, Inc. 58,100 447,370 0.0% * PCM, Inc. 42,066 406,358 0.0% * PDF Solutions, Inc. 158,079 2,050,285 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) Pegasystems, Inc. 318,962 $ 6,911,907 0.1% Perceptron, Inc. 55,801 561,916 0.0% * Peregrine Semiconductor Corp. 13,558 168,526 0.0% * Perficient, Inc. 208,326 3,454,045 0.0% * Pericom Semiconductor Corp. 102,389 1,119,112 0.0% #* Pfsweb, Inc. 6,817 80,236 0.0% #* Photronics, Inc. 352,472 3,168,723 0.0% * Planar Systems, Inc. 280,770 1,016,387 0.0% Plantronics, Inc. 307,076 15,928,032 0.2% * Plexus Corp. 228,828 9,462,038 0.1% * PMC-Sierra, Inc. 1,381,330 10,760,561 0.1% * Polycom, Inc. 982,757 12,854,462 0.1% Power Integrations, Inc. 202,208 10,183,195 0.1% #* PRGX Global, Inc. 142,573 754,211 0.0% #* Procera Networks, Inc. 79,883 598,324 0.0% * Progress Software Corp. 360,103 9,326,668 0.1% QAD, Inc. Class A 47,305 1,017,531 0.0% QAD, Inc. Class B 15,510 286,935 0.0% * QLogic Corp. 479,191 5,659,246 0.1% * Qualstar Corp. 25,800 31,734 0.0% #* Quantum Corp. 327,237 418,863 0.0% #* QuinStreet, Inc. 68,843 278,814 0.0% * Qumu Corp. 38,807 580,553 0.0% * Radisys Corp. 135,857 339,643 0.0% #* Rambus, Inc. 770,971 8,827,618 0.1% #* RealD, Inc. 49,584 561,291 0.0% * RealNetworks, Inc. 253,602 1,749,854 0.0% #* RealPage, Inc. 117,280 2,330,354 0.0% # Reis, Inc. 56,283 1,317,022 0.0% #* Relm Wireless Corp. 30,643 170,069 0.0% #* Remark Media, Inc. 436 2,110 0.0% #* Research Frontiers, Inc. 4,300 21,414 0.0% # RF Industries, Ltd. 35,415 161,138 0.0% #* RF Micro Devices, Inc. 2,363,583 30,750,215 0.3% Richardson Electronics, Ltd. 60,202 602,622 0.0% #* Rightside Group, Ltd. 19,068 180,574 0.0% * Riverbed Technology, Inc. 532,598 10,114,036 0.1% * Rofin-Sinar Technologies, Inc. 139,807 3,130,279 0.0% #* Rogers Corp. 104,141 7,120,120 0.1% #* Rosetta Stone, Inc. 125,848 1,204,365 0.0% * Rovi Corp. 629,622 13,146,507 0.2% #* Rubicon Technology, Inc. 85,425 378,433 0.0% * Rudolph Technologies, Inc. 311,455 2,734,575 0.0% * Saba Software, Inc. 30,405 407,427 0.0% * Sanmina Corp. 575,541 14,428,813 0.2% * Sapient Corp. 909,369 15,750,271 0.2% * ScanSource, Inc. 161,407 6,162,519 0.1% # Science Applications International Corp. 194,420 9,509,082 0.1% * Seachange International, Inc. 199,400 1,347,944 0.0% * Selectica, Inc. 10,332 61,320 0.0% * Semtech Corp. 460,218 11,680,333 0.1% #* ServiceSource International, Inc. 41,537 158,671 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) #* Sevcon, Inc. 7,783 $ 59,229 0.0% * ShoreTel, Inc. 293,014 2,370,483 0.0% #* Shutterstock, Inc. 118,045 9,179,179 0.1% * Sigma Designs, Inc. 202,986 809,914 0.0% * Sigmatron International, Inc. 2,200 15,422 0.0% #* Silicon Graphics International Corp. 97,637 847,489 0.0% * Silicon Image, Inc. 529,626 2,838,795 0.0% * Silicon Laboratories, Inc. 251,222 11,453,211 0.1% * Smith Micro Software, Inc. 24,205 23,721 0.0% * SMTC Corp. 18,570 32,683 0.0% * SolarWinds, Inc. 197,216 9,377,621 0.1% #* Sonic Foundry, Inc. 10,310 95,574 0.0% #* Sonus Networks, Inc. 1,655,524 5,744,668 0.1% #* Spansion, Inc. Class A 400,675 8,245,891 0.1% #* Speed Commerce, Inc. 144,714 429,801 0.0% * SS&C Technologies Holdings, Inc. 76,032 3,673,866 0.1% * Stamps.com, Inc. 101,927 3,761,106 0.1% #* StarTek, Inc. 50,089 376,669 0.0% #* SunEdison, Inc. 1,101,380 21,487,924 0.2% #* SunPower Corp. 143,573 4,571,364 0.1% * Super Micro Computer, Inc. 320,175 10,232,793 0.1% * support.com, Inc. 289,675 617,008 0.0% * Sykes Enterprises, Inc. 271,752 5,853,538 0.1% #* Synaptics, Inc. 282,879 19,357,410 0.2% #* Synchronoss Technologies, Inc. 290,086 14,988,744 0.2% # SYNNEX Corp. 261,879 18,116,789 0.2% * Syntel, Inc. 107,776 9,334,479 0.1% #* Take-Two Interactive Software, Inc. 735,557 19,455,483 0.2% * Tech Data Corp. 254,236 15,182,974 0.2% #* TechTarget, Inc. 65,967 629,325 0.0% * TeleCommunication Systems, Inc. Class A 313,724 903,525 0.0% * Telenav, Inc. 119,098 859,888 0.0% #* TeleTech Holdings, Inc. 314,726 8,123,078 0.1% # Tessco Technologies, Inc. 44,160 1,402,080 0.0% Tessera Technologies, Inc. 343,349 10,434,376 0.1% TheStreet, Inc. 105,930 242,580 0.0% * TiVo, Inc. 679,166 8,863,116 0.1% # Transact Technologies, Inc. 31,591 181,016 0.0% #* Travelzoo, Inc. 26,064 341,178 0.0% * Trio Tech International 3,256 12,536 0.0% * TriQuint Semiconductor, Inc. 972,167 21,027,972 0.2% * TSR, Inc. 5,056 16,584 0.0% #* TTM Technologies, Inc. 373,503 2,580,906 0.0% #* Tyler Technologies, Inc. 193,221 21,625,294 0.2% # Ubiquiti Networks, Inc. 16,402 586,700 0.0% * Ultra Clean Holdings, Inc. 145,984 1,281,740 0.0% #* Ultratech, Inc. 192,212 3,677,016 0.1% #* Unisys Corp. 357,074 9,155,377 0.1% United Online, Inc. 94,024 1,054,949 0.0% #* Universal Display Corp. 32,931 1,030,082 0.0% * Universal Security Instruments, Inc. 1,595 9,889 0.0% #* Unwired Planet, Inc. 223,988 347,181 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) #* USA Technologies, Inc. 16,830 $ 29,284 0.0% * UTStarcom Holdings Corp. 30,930 77,944 0.0% #* Veeco Instruments, Inc. 238,769 8,593,296 0.1% * VeriFone Systems, Inc. 191,793 7,146,207 0.1% * Verint Systems, Inc. 375,753 21,602,040 0.2% #* ViaSat, Inc. 286,394 17,939,720 0.2% * Viasystems Group, Inc. 110,637 1,755,809 0.0% # Vicon Industries, Inc. 14,689 23,356 0.0% * Video Display Corp. 21,287 62,797 0.0% #* Virtusa Corp. 195,042 7,992,821 0.1% # Vishay Intertechnology, Inc. 943,919 12,752,346 0.1% * Vishay Precision Group, Inc. 82,360 1,399,296 0.0% #* VistaPrint NV 174,293 11,653,230 0.1% #* Vringo, Inc. 19,360 19,941 0.0% # Wayside Technology Group, Inc. 8,712 150,718 0.0% #* Web.com Group, Inc. 357,758 7,344,772 0.1% #* WebMD Health Corp. 173,574 7,408,138 0.1% * Westell Technologies, Inc. Class A 301,809 404,424 0.0% * Wireless Telecom Group, Inc. 64,760 161,252 0.0% * Xcerra Corp. 325,206 2,760,999 0.0% * XO Group, Inc. 142,195 1,810,142 0.0% * Zebra Technologies Corp. Class A 299,973 22,123,009 0.2% #* Zhone Technologies, Inc. 49,121 111,996 0.0% #* Zix Corp. 378,499 1,249,047 0.0% #* Zynga, Inc. Class A 764,591 1,949,707 0.0% -------------------- ------------------ Total Information Technology 1,734,086,986 18.7% -------------------- ------------------ Materials -- (4.6%) A Schulman, Inc. 195,980 6,939,652 0.1% #* AEP Industries, Inc. 31,029 1,427,024 0.0% #* AK Steel Holding Corp. 302,016 2,286,261 0.0% #* AM Castle & Co. 94,594 695,266 0.0% * American Biltrite, Inc. 62 27,590 0.0% # American Vanguard Corp. 164,556 1,898,976 0.0% # Ampco-Pittsburgh Corp. 40,529 883,127 0.0% Axiall Corp. 240,301 9,684,130 0.1% # Balchem Corp. 179,768 11,630,990 0.1% * Berry Plastics Group, Inc. 650,392 16,923,200 0.2% * Boise Cascade Co. 218,360 7,874,062 0.1% Cabot Corp. 3,579 166,173 0.0% * Calgon Carbon Corp. 365,531 7,687,117 0.1% # Carpenter Technology Corp. 40,280 2,016,014 0.0% * Century Aluminum Co. 627,713 18,379,437 0.2% # Chase Corp. 30,615 1,098,160 0.0% * Chemtura Corp. 697,040 16,234,062 0.2% * Clearwater Paper Corp. 139,403 8,970,583 0.1% #* Codexis, Inc. 41,835 107,098 0.0% #* Coeur Mining, Inc. 230,078 851,289 0.0% Commercial Metals Co. 803,876 13,899,016 0.2% Compass Minerals International, Inc. 172,513 14,780,914 0.2% #* Contango ORE, Inc. 4,405 34,139 0.0% #* Continental Materials Corp. 397 6,427 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Materials -- (Continued) * Core Molding Technologies, Inc. 46,828 $ 622,812 0.0% # Deltic Timber Corp. 52,772 3,434,929 0.0% Detrex Corp. 500 16,500 0.0% Domtar Corp. 96,186 3,950,359 0.0% * Ferro Corp. 657,177 8,622,162 0.1% Flamemaster Corp. 189 1,640 0.0% #* Flotek Industries, Inc. 309,858 6,866,453 0.1% Friedman Industries, Inc. 38,738 295,958 0.0% FutureFuel Corp. 252,122 3,358,265 0.0% #* General Moly, Inc. 262,950 173,547 0.0% Globe Specialty Metals, Inc. 491,892 9,252,488 0.1% # Gold Resource Corp. 2,596 10,098 0.0% * Graphic Packaging Holding Co. 1,295,284 15,711,795 0.2% Greif, Inc. Class A 56,836 2,504,194 0.0% # Greif, Inc. Class B 258 12,957 0.0% # Hawkins, Inc. 44,091 1,697,944 0.0% # Haynes International, Inc. 70,703 3,286,982 0.0% # HB Fuller Co. 358,023 15,026,225 0.2% * Headwaters, Inc. 479,886 6,094,552 0.1% # Hecla Mining Co. 1,325,171 2,888,873 0.0% #* Horsehead Holding Corp. 361,218 5,674,735 0.1% Innophos Holdings, Inc. 149,354 8,513,178 0.1% Innospec, Inc. 151,674 6,123,079 0.1% #* Intrepid Potash, Inc. 186,728 2,511,492 0.0% # Kaiser Aluminum Corp. 97,607 6,788,567 0.1% * KapStone Paper and Packaging Corp. 691,634 21,274,662 0.2% # KMG Chemicals, Inc. 42,573 753,542 0.0% Koppers Holdings, Inc. 129,606 5,116,845 0.1% * Kraton Performance Polymers, Inc. 173,473 3,103,432 0.0% # Kronos Worldwide, Inc. 138,288 1,858,591 0.0% * Landec Corp. 165,617 2,085,118 0.0% #* Louisiana-Pacific Corp. 1,015,622 14,828,081 0.2% * LSB Industries, Inc. 144,657 5,428,977 0.1% # Materion Corp. 104,569 4,125,247 0.1% #* McEwen Mining, Inc. 226,238 280,535 0.0% * Mercer International, Inc. 191,677 2,411,297 0.0% Minerals Technologies, Inc. 245,094 18,801,161 0.2% #* Mines Management, Inc. 45,105 23,455 0.0% Myers Industries, Inc. 210,570 3,145,916 0.0% Neenah Paper, Inc. 111,084 6,777,235 0.1% Noranda Aluminum Holding Corp. 263,813 1,163,415 0.0% * Northern Technologies International Corp. 17,945 335,930 0.0% # Olin Corp. 547,859 13,280,102 0.2% # Olympic Steel, Inc. 52,690 1,060,123 0.0% # OM Group, Inc. 168,470 4,385,274 0.1% #* OMNOVA Solutions, Inc. 241,204 1,695,664 0.0% * Penford Corp. 61,848 1,165,835 0.0% PH Glatfelter Co. 220,903 5,573,383 0.1% PolyOne Corp. 529,913 19,612,080 0.2% # Quaker Chemical Corp. 83,056 6,817,236 0.1% # Rayonier Advanced Materials, Inc. 6,635 189,296 0.0% #* Rentech, Inc. 443,581 705,294 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Materials -- (Continued) * Resolute Forest Products, Inc. 141,897 $ 2,633,608 0.0% #* RevettMining Co., Inc. 5,072 4,413 0.0% * RTI International Metals, Inc. 173,155 4,077,800 0.1% # Schnitzer Steel Industries, Inc. Class A 170,267 4,009,788 0.0% # Schweitzer-Mauduit International, Inc. 191,544 8,247,885 0.1% #* Senomyx, Inc. 60,712 480,839 0.0% Sensient Technologies Corp. 344,921 20,412,425 0.2% Silgan Holdings, Inc. 6,293 309,364 0.0% Stepan Co. 115,680 5,122,310 0.1% #* Stillwater Mining Co. 864,699 11,353,498 0.1% * SunCoke Energy, Inc. 452,989 10,826,437 0.1% # Synalloy Corp. 16,003 258,448 0.0% * Taminco Corp. 11,576 299,703 0.0% TimkenSteel Corp. 65,845 2,671,990 0.0% * Trecora Resources 62,773 825,465 0.0% Tredegar Corp. 83,742 1,592,773 0.0% Tronox, Ltd. Class A 173,872 4,204,225 0.1% #* UFP Technologies, Inc. 3,300 72,666 0.0% # United States Lime & Minerals, Inc. 24,502 1,717,835 0.0% #* Universal Stainless & Alloy Products, Inc. 29,748 764,821 0.0% # US Silica Holdings, Inc. 385,744 17,319,906 0.2% # Valhi, Inc. 46,472 275,114 0.0% #* Verso Paper Corp. 9,552 27,701 0.0% Vulcan International Corp. 700 29,046 0.0% # Walter Energy, Inc. 823 1,983 0.0% # Wausau Paper Corp. 332,467 3,288,099 0.0% * Webco Industries, Inc. 600 50,745 0.0% Worthington Industries, Inc. 485,655 18,770,566 0.2% Zep, Inc. 96,426 1,548,602 0.0% -------------------- ------------------ Total Materials 525,136,272 5.7% -------------------- ------------------ Other -- (0.0%) (Degree)* Allen Organ Co. Escrow Shares 800 -- 0.0% (Degree)* Big 4 Ranch, Inc. 3,200 -- 0.0% (Degree)* Brooklyn Federal Bancorp, Inc. Escrow Shares 5,100 -- 0.0% (Degree)* Concord Camera Corp. Escrow Shares 113,476 -- 0.0% (Degree)* DLB Oil & Gas, Inc. Escrow Shares 1,300 -- 0.0% (Degree)* First Commerce Bancorp Escrow Shares 6,667 -- 0.0% (Degree)* FRD Acquisition Co. Escrow Shares 106,674 -- 0.0% (Degree)#* Gerber Scientific, Inc. Escrow Shares 166,622 -- 0.0% (Degree)* Petrocorp, Inc. Escrow Shares 6,900 -- 0.0% -------------------- ------------------ Total Other -- 0.0% -------------------- ------------------ Real Estate Investment Trusts -- (0.1%) #* CareTrust REIT, Inc. 116,835 1,814,448 0.0% Geo Group, Inc. (The) 125,660 5,018,860 0.1% -------------------- ------------------ Total Real Estate Investment Trusts 6,833,308 0.1% -------------------- ------------------ Telecommunication Services -- (0.6%) #* 8x8, Inc. 87,658 688,992 0.0% #* Alaska Communications Systems Group, Inc. 82,844 111,839 0.0% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Telecommunication Services -- (Continued) #* Alteva 24,398 $ 173,226 0.0% Atlantic Tele-Network, Inc. 74,985 5,038,242 0.1% #* Boingo Wireless, Inc. 44,735 313,592 0.0% #* Cincinnati Bell, Inc. 1,468,153 5,388,122 0.1% Cogent Communications Holdings, Inc. 287,892 9,771,054 0.1% # Consolidated Communications Holdings, Inc. 274,835 7,118,227 0.1% * General Communication, Inc. Class A 273,539 3,208,612 0.0% #* Hawaiian Telcom Holdco, Inc. 7,470 200,943 0.0% * HC2 Holdings, Inc. 18,211 96,518 0.0% IDT Corp. Class B 138,450 2,281,656 0.0% Inteliquent, Inc. 230,334 3,876,521 0.1% #* Intelsat SA 51,635 1,004,817 0.0% #* Iridium Communications, Inc. 190,546 1,810,187 0.0% # Lumos Networks Corp. 135,403 2,328,932 0.0% # NTELOS Holdings Corp. 132,826 1,338,886 0.0% #* ORBCOMM, Inc. 242,452 1,532,297 0.0% * Premiere Global Services, Inc. 320,342 3,353,981 0.0% # Shenandoah Telecommunications Co. 97,910 2,897,157 0.0% Spok Holdings, Inc. 109,298 1,775,000 0.0% #* Straight Path Communications, Inc. Class B 56,353 1,217,225 0.0% Telephone & Data Systems, Inc. 218,327 5,597,904 0.1% * United States Cellular Corp. 984 35,837 0.0% * Vonage Holdings Corp. 1,437,660 5,003,057 0.1% -------------------- ------------------ Total Telecommunication Services 66,162,824 0.7% -------------------- ------------------ Utilities -- (3.0%) ALLETE, Inc. 289,205 15,108,069 0.2% American States Water Co. 267,383 9,566,964 0.1% # Artesian Resources Corp. Class A 20,727 461,590 0.0% # Atlantic Power Corp. 261,139 579,729 0.0% # Avista Corp. 444,427 15,754,937 0.2% # Black Hills Corp. 312,013 17,076,472 0.2% #* Cadiz, Inc. 8,135 81,025 0.0% California Water Service Group 319,386 8,313,618 0.1% # Chesapeake Utilities Corp. 83,805 4,058,676 0.0% Cleco Corp. 159,748 8,588,052 0.1% # Connecticut Water Service, Inc. 53,672 1,994,988 0.0% # Consolidated Water Co., Ltd. 45,451 544,957 0.0% # Delta Natural Gas Co., Inc. 16,144 334,504 0.0% * Dynegy, Inc. 199,064 6,071,452 0.1% El Paso Electric Co. 283,802 10,739,068 0.1% Empire District Electric Co. (The) 303,881 8,642,376 0.1% Gas Natural, Inc. 38,126 432,730 0.0% #* Genie Energy, Ltd. Class B 89,624 649,774 0.0% # Hawaiian Electric Industries, Inc. 374,481 10,545,385 0.1% # IDACORP, Inc. 340,628 21,537,908 0.2% # Laclede Group, Inc. (The) 280,930 14,262,816 0.2% # MGE Energy, Inc. 195,435 8,690,994 0.1% # Middlesex Water Co. 91,558 2,064,633 0.0% # New Jersey Resources Corp. 296,430 17,335,226 0.2% # Northwest Natural Gas Co. 178,889 8,395,261 0.1% # NorthWestern Corp. 268,436 14,184,158 0.2% U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------------------ -------------------- ------------------- Utilities -- (Continued) # ONE Gas, Inc. 140,747 $ 5,341,349 0.1% # Ormat Technologies, Inc. 84,541 2,447,462 0.0% # Otter Tail Corp. 222,003 6,882,093 0.1% Piedmont Natural Gas Co., Inc. 340,971 12,960,308 0.1% # PNM Resources, Inc. 549,931 15,865,509 0.2% # Portland General Electric Co. 536,212 19,523,479 0.2% RGC Resources, Inc. 6,328 128,079 0.0% SJW Corp. 93,918 3,001,619 0.0% # South Jersey Industries, Inc. 222,253 13,032,916 0.1% Southwest Gas Corp. 318,609 18,507,997 0.2% # UIL Holdings Corp. 396,568 16,314,808 0.2% Unitil Corp. 88,918 3,097,903 0.0% # WGL Holdings, Inc. 357,179 16,787,413 0.2% # York Water Co. 56,837 1,249,277 0.0% -------------------- ------------------ Total Utilities 341,155,574 3.7% -------------------- ------------------ TOTAL COMMON STOCKS 9,207,908,993 99.6% -------------------- ------------------ PREFERRED STOCKS -- (0.0%) Other -- (0.0%) (Degree)* Enron TOPRS Escrow Shares 10,595 -- 0.0% -------------------- ------------------ RIGHTS/WARRANTS -- (0.0%) (Degree)* Capital Bank Corp. Contingent Value Rights 2,560 -- 0.0% (Degree)* Community Health Systems, Inc. Rights 01/04/16 680,526 20,348 0.0% (Degree)* CSF Holding, Inc. Litigation Rights 3,250 -- 0.0% (Degree)# Leap Wireless International, Inc. Contingent Value Rights 246,684 621,643 0.0% (Degree)* LGL Group, Inc. (The) Warrants 08/06/18 35,515 707 0.0% (Degree)#* Magnum Hunter Resources Corp. Warrants 04/15/16 32,271 -- 0.0% (Degree)* PhotoMedex, Inc. Contingent Value Warrants 12/13/14 1,607 -- 0.0% (Degree)* Tejon Ranch Co. Warrants 08/31/16 3,160 6,636 0.0% -------------------- ------------------ TOTAL RIGHTS/WARRANTS 649,334 0.0% -------------------- ------------------ TEMPORARY CASH INVESTMENTS -- (0.5%) State Street Institutional Liquid Reserves, 0.077% 60,668,500 60,668,500 0.7% -------------------- ------------------ SECURITIES LENDING COLLATERAL -- (19.2%) (S)@ DFA Short Term Investment Fund 189,974,372 2,198,003,488 23.7% -------------------- ------------------ TOTAL INVESTMENTS -- (100.0%) (Cost $8,932,593,064) $ 11,467,230,315 124.0% ==================== ================== U.S. SMALL CAP PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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 $ 1,573,212,400 $ 2 -- $ 1,573,212,402 Consumer Staples 358,904,438 -- -- 358,904,438 Energy 452,346,657 42,025 -- 452,388,682 Financials 1,606,582,081 61,981 -- 1,606,644,062 Health Care 910,730,859 222,956 -- 910,953,815 Industrials 1,632,425,904 4,726 -- 1,632,430,630 Information Technology 1,734,086,986 -- -- 1,734,086,986 Materials 525,136,272 -- -- 525,136,272 Other -- -- -- -- Real Estate Investment Trusts 6,833,308 -- -- 6,833,308 Telecommunication Services 66,162,824 -- -- 66,162,824 Utilities 341,155,574 -- -- 341,155,574 Preferred Stocks Other -- -- -- -- Rights/Warrants -- 649,334 -- 649,334 Temporary Cash Investments 60,668,500 -- -- 60,668,500 Securities Lending Collateral -- 2,198,003,488 -- 2,198,003,488 --------------------- -------------------- -------------------- ---------------------- TOTAL $ 9,268,245,803 $ 2,198,984,512 -- $ 11,467,230,315 ===================== ==================== ==================== ====================== U.S. MICRO CAP PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2014 PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- COMMON STOCKS -- (83.1%) Consumer Discretionary -- (15.5%) #* 1-800-Flowers.com, Inc. Class A 198,541 $ 1,594,284 0.0% #* Aeropostale, Inc. 422,052 1,270,377 0.0% * AG&E Holdings, Inc. 104,895 118,531 0.0% # AH Belo Corp. Class A 239,810 2,760,213 0.1% * Ambassadors Group, Inc. 141,374 501,878 0.0% AMCON Distributing Co. 5,690 466,466 0.0% #* America's Car-Mart, Inc. 103,490 4,758,470 0.1% * American Axle & Manufacturing Holdings, Inc. 680,737 13,158,646 0.3% #* American Public Education, Inc. 143,488 4,446,693 0.1% Arctic Cat, Inc. 135,885 4,573,889 0.1% Ark Restaurants Corp. 36,613 806,951 0.0% * Asbury Automotive Group, Inc. 267,366 18,726,315 0.4% #* Ascent Capital Group, Inc. Class A 57,908 3,723,484 0.1% * Ballantyne Strong, Inc. 94,707 425,234 0.0% * Barnes & Noble, Inc. 568,814 12,411,521 0.3% Bassett Furniture Industries, Inc. 89,635 1,557,856 0.0% Beasley Broadcasting Group, Inc. Class A 65,543 308,052 0.0% #* Beazer Homes USA, Inc. 119,800 2,148,014 0.1% # bebe stores, Inc. 625,625 1,432,681 0.0% * Belmond, Ltd. Class A 23,665 271,201 0.0% #* BFC Financial Corp. Class A 75,991 288,766 0.0% # Big 5 Sporting Goods Corp. 204,171 2,513,345 0.1% * Biglari Holdings, Inc. 15,536 5,424,550 0.1% #* BJ's Restaurants, Inc. 241,253 10,619,957 0.2% #* Black Diamond, Inc. 137,350 1,065,836 0.0% #* Blue Nile, Inc. 46,685 1,657,318 0.0% # Blyth, Inc. 111,212 933,069 0.0% # Bob Evans Farms, Inc. 209,518 10,234,954 0.2% # Bon-Ton Stores, Inc. (The) 113,614 1,000,939 0.0% * Books-A-Million, Inc. 60,674 87,977 0.0% Bowl America, Inc. Class A 55,406 803,387 0.0% #* Boyd Gaming Corp. 37,444 432,478 0.0% * Bravo Brio Restaurant Group, Inc. 93,605 1,298,301 0.0% #* Bridgepoint Education, Inc. 72,711 919,067 0.0% Brown Shoe Co., Inc. 418,835 11,136,823 0.2% #* Build-A-Bear Workshop, Inc. 107,793 1,827,091 0.0% #* Cache, Inc. 8,335 4,709 0.0% # Callaway Golf Co. 746,531 5,852,803 0.1% * Cambium Learning Group, Inc. 93,736 143,416 0.0% * Canterbury Park Holding Corp. 26,287 251,041 0.0% # Capella Education Co. 72,013 5,094,200 0.1% #* Career Education Corp. 295,568 1,714,294 0.0% * Carmike Cinemas, Inc. 202,035 6,475,222 0.1% # Carriage Services, Inc. 179,852 3,589,846 0.1% #* Carrols Restaurant Group, Inc. 254,983 1,965,919 0.0% # Cato Corp. (The) Class A 268,361 9,572,437 0.2% #* Cavco Industries, Inc. 57,620 4,198,769 0.1% #* Central European Media Enterprises, Ltd. Class A 37,076 90,095 0.0% #* Charles & Colvard, Ltd. 71,131 206,991 0.0% Cherokee, Inc. 83,413 1,458,059 0.0% # Children's Place, Inc. (The) 212,810 10,480,893 0.2% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) * Christopher & Banks Corp. 225,010 $ 1,469,315 0.0% Churchill Downs, Inc. 114,647 11,691,701 0.2% #* Chuy's Holdings, Inc. 52,851 1,580,773 0.0% #* Cinedigm Corp. 537,325 832,854 0.0% * Citi Trends, Inc. 128,501 2,910,548 0.1% # ClubCorp Holdings, Inc. 6,817 129,932 0.0% * Coast Distribution System, Inc. (The) 41,382 128,077 0.0% Collectors Universe, Inc. 57,953 1,425,644 0.0% #* Conn's, Inc. 297,054 9,241,350 0.2% Cooper Tire & Rubber Co. 279,610 9,006,238 0.2% Core-Mark Holding Co., Inc. 160,583 9,318,631 0.2% * Crocs, Inc. 629,251 7,349,652 0.2% #* Crown Media Holdings, Inc. Class A 198,749 693,634 0.0% CSS Industries, Inc. 52,055 1,486,691 0.0% Culp, Inc. 186,578 3,539,385 0.1% #* Cumulus Media, Inc. Class A 537,992 2,076,649 0.0% #* Daily Journal Corp. 200 36,530 0.0% * Del Frisco's Restaurant Group, Inc. 92,529 2,148,523 0.1% #* Delta Apparel, Inc. 77,201 810,611 0.0% Destination Maternity Corp. 91,157 1,365,532 0.0% #* Destination XL Group, Inc. 349,894 1,833,445 0.0% * Dex Media, Inc. 3,500 27,265 0.0% * DGSE Cos., Inc. 8,313 9,560 0.0% DineEquity, Inc. 116,656 10,377,718 0.2% #* Dixie Group, Inc. (The) 104,300 821,884 0.0% #* Dorman Products, Inc. 126,256 5,853,228 0.1% * Dover Downs Gaming & Entertainment, Inc. 63,144 47,358 0.0% Dover Motorsports, Inc. 168,371 401,565 0.0% Drew Industries, Inc. 216,149 10,388,121 0.2% #* Education Management Corp. 2,999 1,785 0.0% Educational Development Corp. 36,900 161,253 0.0% Einstein Noah Restaurant Group, Inc. 175,207 3,547,942 0.1% * Eldorado Resorts, Inc. 14,473 59,629 0.0% * ELXSI Corp. 7,100 82,538 0.0% Emerson Radio Corp. 243,478 277,565 0.0% * Emmis Communications Corp. Class A 300,222 654,484 0.0% #* Empire Resorts, Inc. 13,738 102,898 0.0% #* Entercom Communications Corp. Class A 354,244 3,641,628 0.1% # Entravision Communications Corp. Class A 971,879 5,014,896 0.1% # Escalade, Inc. 63,120 722,093 0.0% # Ethan Allen Interiors, Inc. 283,701 8,028,738 0.2% #* EW Scripps Co. (The) Class A 345,866 6,640,627 0.1% #* Famous Dave's Of America, Inc. 51,505 1,342,735 0.0% * Fiesta Restaurant Group, Inc. 292,642 16,139,206 0.3% Finish Line, Inc. (The) Class A 589,373 15,600,703 0.3% #* Flanigan's Enterprises, Inc. 20,756 415,120 0.0% # Flexsteel Industries, Inc. 55,129 1,891,476 0.0% * Fox Factory Holding Corp. 752 12,739 0.0% #* Francesca's Holdings Corp. 190,034 2,263,305 0.1% # Fred's, Inc. Class A 299,557 4,703,045 0.1% Frisch's Restaurants, Inc. 63,337 1,626,494 0.0% #* FTD Cos., Inc. 153,891 5,413,885 0.1% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------------------- ------------------- ------------------ Consumer Discretionary -- (Continued) #* Fuel Systems Solutions, Inc. 135,278 $ 1,248,616 0.0% * Full House Resorts, Inc. 35,053 45,218 0.0% #* G-III Apparel Group, Ltd. 193,446 15,349,940 0.3% * Gaiam, Inc. Class A 68,289 516,948 0.0% * Gaming Partners International Corp. 14,659 122,989 0.0% #* Geeknet, Inc. 3,079 29,836 0.0% #* Gentherm, Inc. 334,287 13,939,768 0.3% #* Gordmans Stores, Inc. 22,024 69,376 0.0% * Grand Canyon Education, Inc. 367,324 17,594,820 0.4% #* Gray Television, Inc. 457,903 4,231,024 0.1% * Gray Television, Inc. Class A 41,200 304,880 0.0% #* Hampshire Group, Ltd. 25,800 62,694 0.0% # Harte-Hanks, Inc. 381,894 2,486,130 0.1% # Haverty Furniture Cos., Inc. 158,164 3,481,190 0.1% # Haverty Furniture Cos., Inc. Class A 18,855 414,433 0.0% * Helen of Troy, Ltd. 194,371 12,021,846 0.2% * Here Media, Inc. 9,920 1 0.0% (Degree)* Here Media, Inc. Special Shares 9,920 1 0.0% #* hhgregg, Inc. 146,876 760,818 0.0% #* Hibbett Sports, Inc. 62,495 2,836,648 0.1% * Hollywood Media Corp. 1,798 1,996 0.0% Hooker Furniture Corp. 87,784 1,342,217 0.0% #* Hovnanian Enterprises, Inc. Class A 32,591 122,542 0.0% #* Ignite Restaurant Group, Inc. 1,313 9,047 0.0% #* Insignia Systems, Inc. 51,150 163,680 0.0% International Speedway Corp. Class A 6,100 191,113 0.0% # Interval Leisure Group, Inc. 368,004 7,742,804 0.2% #* iRobot Corp. 231,117 8,255,499 0.2% #* Isle of Capri Casinos, Inc. 217,143 1,613,372 0.0% #* ITT Educational Services, Inc. 10,887 110,068 0.0% * Jaclyn, Inc. 20,127 97,113 0.0% #* JAKKS Pacific, Inc. 186,066 1,187,101 0.0% #* Jamba, Inc. 56,762 757,773 0.0% # Johnson Outdoors, Inc. Class A 65,549 1,969,747 0.0% * Journal Communications, Inc. Class A 480,802 4,716,668 0.1% * K12, Inc. 139,238 1,726,551 0.0% # KB Home 408,655 6,432,230 0.1% #* Kirkland's, Inc. 175,271 3,119,824 0.1% #* Kona Grill, Inc. 68,841 1,550,988 0.0% # Koss Corp. 115,135 163,492 0.0% #* Krispy Kreme Doughnuts, Inc. 695,719 13,163,003 0.3% La-Z-Boy, Inc. 590,026 13,487,994 0.3% #* Lakeland Industries, Inc. 40,544 571,670 0.0% * Lazare Kaplan International, Inc. 81,643 132,262 0.0% #* LeapFrog Enterprises, Inc. 421,165 2,240,598 0.1% * Learning Tree International, Inc. 162,830 403,818 0.0% #* Libbey, Inc. 245,595 7,060,856 0.1% * Liberty Tax, Inc. 347 13,148 0.0% # Lifetime Brands, Inc. 111,926 1,915,054 0.0% * LIN Media LLC Class A 36,480 872,966 0.0% # Lincoln Educational Services Corp. 114,994 304,734 0.0% Lithia Motors, Inc. Class A 83,381 6,472,033 0.1% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) * Loral Space & Communications, Inc. 47,009 $ 3,596,189 0.1% * Luby's, Inc. 249,870 1,246,851 0.0% #* M/I Homes, Inc. 173,343 3,733,808 0.1% Marcus Corp. (The) 181,285 3,105,412 0.1% # Marine Products Corp. 335,362 2,830,455 0.1% #* MarineMax, Inc. 212,127 4,066,475 0.1% #* Martha Stewart Living Omnimedia, Inc. Class A 178,835 774,356 0.0% * McClatchy Co. (The) Class A 339,903 1,210,055 0.0% McRae Industries, Inc. Class A 8,800 267,520 0.0% # MDC Holdings, Inc. 280,333 6,845,732 0.1% #* Media General, Inc. Class A 135,901 2,030,361 0.0% #* Meritage Homes Corp. 16,232 597,175 0.0% * Modine Manufacturing Co. 347,825 4,462,595 0.1% * Monarch Casino & Resort, Inc. 145,340 2,364,682 0.1% # Monro Muffler Brake, Inc. 156,062 8,339,953 0.2% #* Motorcar Parts of America, Inc. 90,868 2,638,807 0.1% Movado Group, Inc. 190,762 6,733,899 0.1% * Multimedia Games Holding Co., Inc. 190,131 6,635,572 0.1% # NACCO Industries, Inc. Class A 37,647 2,204,985 0.1% #* Nathan's Famous, Inc. 56,675 4,073,799 0.1% National American University Holdings, Inc. 584 1,828 0.0% # National CineMedia, Inc. 484,265 7,699,814 0.2% #* Nautilus, Inc. 324,859 4,346,613 0.1% #* Nevada Gold & Casinos, Inc. 352 419 0.0% * New York & Co., Inc. 633,817 2,072,582 0.0% # Nexstar Broadcasting Group, Inc. Class A 281,414 12,697,400 0.3% * Nobility Homes, Inc. 43,800 480,705 0.0% # Nutrisystem, Inc. 319,229 5,375,816 0.1% * Orbitz Worldwide, Inc. 724,679 5,993,095 0.1% #* Overstock.com, Inc. 66,674 1,541,503 0.0% # Oxford Industries, Inc. 157,976 9,676,030 0.2% * P&F Industries, Inc. Class A 6,745 53,893 0.0% #* Pacific Sunwear of California, Inc. 306,922 466,521 0.0% # Papa John's International, Inc. 394,891 18,465,103 0.4% #* Penn National Gaming, Inc. 334,805 4,382,597 0.1% #* Pep Boys-Manny, Moe & Jack (The) 423,475 4,035,717 0.1% * Perfumania Holdings, Inc. 56,683 348,600 0.0% #* Perry Ellis International, Inc. 115,286 2,357,599 0.1% # PetMed Express, Inc. 213,062 2,814,549 0.1% Pier 1 Imports, Inc. 72,887 940,242 0.0% #* Pinnacle Entertainment, Inc. 540,950 13,864,549 0.3% #* Pizza Inn Holdings, Inc. 39,700 260,035 0.0% #* Popeyes Louisiana Kitchen, Inc. 243,874 11,303,560 0.2% * QEP Co., Inc. 33,487 587,529 0.0% * Quantum Fuel Systems Technologies Worldwide, Inc. 5,656 22,511 0.0% #* Quiksilver, Inc. 866,702 1,516,729 0.0% #* Radio One, Inc. Class D 320,517 798,087 0.0% #* RadioShack Corp. 92,927 85,493 0.0% * RCI Hospitality Holdings, Inc. 54,661 650,466 0.0% * ReachLocal, Inc. 4,933 22,346 0.0% #* Reading International, Inc. Class A 134,925 1,345,202 0.0% * Reading International, Inc. Class B 11,620 127,820 0.0% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) * Red Lion Hotels Corp. 167,008 $ 946,935 0.0% * Red Robin Gourmet Burgers, Inc. 138,065 7,589,433 0.2% Regis Corp. 366,744 6,227,313 0.1% # Remy International, Inc. 468 8,649 0.0% Rent-A-Center, Inc. 10,544 326,548 0.0% #* Rentrak Corp. 50,214 3,859,950 0.1% Rocky Brands, Inc. 50,860 668,300 0.0% #* Ruby Tuesday, Inc. 452,878 3,478,103 0.1% Ruth's Hospitality Group, Inc. 328,476 3,997,553 0.1% # Saga Communications, Inc. Class A 51,988 2,084,719 0.0% # Salem Communications Corp. Class A 170,151 1,311,864 0.0% # Scholastic Corp. 1,706 59,386 0.0% #* Scientific Games Corp. Class A 731,870 8,614,110 0.2% #* Select Comfort Corp. 285,424 7,332,543 0.2% #* Shiloh Industries, Inc. 154,405 2,631,061 0.1% # Shoe Carnival, Inc. 157,105 2,890,732 0.1% # Sinclair Broadcast Group, Inc. Class A 401,740 11,670,547 0.2% #* Sizmek, Inc. 153,980 882,305 0.0% * Skechers U.S.A., Inc. Class A 270,836 14,828,271 0.3% #* Skullcandy, Inc. 118,727 990,183 0.0% #* Skyline Corp. 74,294 271,916 0.0% #* Smith & Wesson Holding Corp. 4,614 46,878 0.0% # Sonic Automotive, Inc. Class A 373,034 9,284,816 0.2% #* Sonic Corp. 668,078 16,842,246 0.3% * Spanish Broadcasting System, Inc. Class A 36,748 148,094 0.0% Spartan Motors, Inc. 167,767 954,594 0.0% * Spectrum Group International, Inc. 278 148,034 0.0% # Speedway Motorsports, Inc. 223,550 4,374,874 0.1% # Stage Stores, Inc. 249,843 4,214,851 0.1% # Standard Motor Products, Inc. 248,523 9,821,629 0.2% * Stanley Furniture Co., Inc. 51,183 148,431 0.0% # Stein Mart, Inc. 272,252 3,642,732 0.1% * Steiner Leisure, Ltd. 99,037 4,177,381 0.1% #* Stoneridge, Inc. 224,582 2,917,320 0.1% # Strattec Security Corp. 30,352 3,148,109 0.1% * Strayer Education, Inc. 30,726 2,248,836 0.1% # Sturm Ruger & Co., Inc. 185,803 7,744,269 0.2% # Superior Industries International, Inc. 235,310 4,590,898 0.1% Superior Uniform Group, Inc. 55,873 1,340,952 0.0% Sypris Solutions, Inc. 166,119 566,466 0.0% #* Systemax, Inc. 337,431 5,162,694 0.1% # Tandy Leather Factory, Inc. 72,155 666,712 0.0% #* Tile Shop Holdings, Inc. 40,563 349,247 0.0% * Tower International, Inc. 82,592 2,006,986 0.0% # Town Sports International Holdings, Inc. 193,082 1,143,045 0.0% Trans World Entertainment Corp. 218,126 719,816 0.0% #* Tuesday Morning Corp. 372,296 7,591,115 0.2% #* Tumi Holdings, Inc. 102,888 2,136,984 0.0% * Unifi, Inc. 163,468 4,572,200 0.1% #* Universal Electronics, Inc. 148,910 8,471,490 0.2% # Universal Technical Institute, Inc. 223,452 2,661,313 0.1% #* UQM Technologies, Inc. 123,866 137,491 0.0% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Discretionary -- (Continued) * US Auto Parts Network, Inc. 62,898 $ 169,825 0.0% # Value Line, Inc. 80,059 1,276,941 0.0% #* Valuevision Media, Inc. Class A 399,286 2,259,959 0.1% #* Vera Bradley, Inc. 142,536 3,249,821 0.1% * Vitamin Shoppe, Inc. 196,652 9,228,878 0.2% #* VOXX International Corp. 170,721 1,456,250 0.0% #* West Marine, Inc. 177,750 1,749,060 0.0% # Weyco Group, Inc. 110,462 3,440,891 0.1% #* William Lyon Homes Class A 39,438 933,103 0.0% # Winmark Corp. 54,688 4,499,729 0.1% #* Winnebago Industries, Inc. 187,574 3,978,445 0.1% # World Wrestling Entertainment, Inc. Class A 20,238 249,939 0.0% #* Xanadoo Co. Class A 566 124,520 0.0% * Zagg, Inc. 94,665 636,149 0.0% #* Zumiez, Inc. 283,795 9,473,077 0.2% -------------------- ------------------ Total Consumer Discretionary 933,050,788 18.6% -------------------- ------------------ Consumer Staples -- (3.3%) # Alico, Inc. 68,700 2,535,030 0.1% #* Alliance One International, Inc. 827,437 1,679,697 0.0% Andersons, Inc. (The) 269,438 17,171,284 0.4% # B&G Foods, Inc. 13,498 397,651 0.0% #* Boulder Brands, Inc. 577,162 5,125,199 0.1% * Bridgford Foods Corp. 72,953 612,440 0.0% # Cal-Maine Foods, Inc. 193,250 16,965,417 0.3% # Calavo Growers, Inc. 120,004 5,824,994 0.1% * CCA Industries, Inc. 35,363 120,234 0.0% * Central Garden and Pet Co. 75,174 599,889 0.0% #* Central Garden and Pet Co. Class A 312,877 2,687,613 0.1% #* Chefs' Warehouse, Inc. (The) 41,406 739,925 0.0% * Chiquita Brands International, Inc. 322,337 4,651,323 0.1% # Coca-Cola Bottling Co. Consolidated 71,524 6,468,631 0.1% #* Coffee Holding Co., Inc. 14,908 85,274 0.0% #* Craft Brew Alliance, Inc. 83,297 1,156,162 0.0% # Dean Foods Co. 411,973 6,060,123 0.1% #* Diamond Foods, Inc. 13,988 421,738 0.0% #* Farmer Bros. Co. 88,891 2,592,062 0.1% #* Fresh Market, Inc. (The) 13,550 497,420 0.0% * Glacier Water Services, Inc. 23,971 457,966 0.0% Golden Enterprises, Inc. 99,219 443,509 0.0% * IGI Laboratories, Inc. 30,339 297,626 0.0% # Ingles Markets, Inc. Class A 100,711 2,709,126 0.1% Inter Parfums, Inc. 288,399 8,190,532 0.2% * Inventure Foods, Inc. 31,368 415,312 0.0% J&J Snack Foods Corp. 159,784 16,462,545 0.3% # John B. Sanfilippo & Son, Inc. 72,033 2,676,026 0.1% # Liberator Medical Holdings, Inc. 6,507 18,740 0.0% #* Lifeway Foods, Inc. 152,175 2,518,496 0.1% # Limoneira Co. 2,114 54,245 0.0% * Mannatech, Inc. 10,017 145,948 0.0% #* Medifast, Inc. 136,704 4,338,985 0.1% # MGP Ingredients, Inc. 109,647 1,354,140 0.0% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Consumer Staples -- (Continued) #* National Beverage Corp. 399,613 $ 10,038,279 0.2% #* Natural Alternatives International, Inc. 70,731 433,581 0.0% #* Natural Grocers by Vitamin Cottage, Inc. 13,355 241,859 0.0% # Nature's Sunshine Products, Inc. 153,100 2,281,190 0.1% #* Nutraceutical International Corp. 59,666 1,341,292 0.0% # Oil-Dri Corp. of America 58,075 1,752,703 0.0% #* Omega Protein Corp. 156,029 2,254,619 0.1% # Orchids Paper Products Co. 57,304 1,648,063 0.0% * Pantry, Inc. (The) 140,628 3,623,984 0.1% #* Post Holdings, Inc. 21,541 807,787 0.0% Reliv International, Inc. 102,054 123,485 0.0% #* Revlon, Inc. Class A 378,632 12,987,078 0.3% Rocky Mountain Chocolate Factory, Inc. 71,953 869,912 0.0% # Roundy's, Inc. 30,739 103,590 0.0% * Scheid Vineyards, Inc. Class A 2,900 97,208 0.0% Scope Industries 8,083 1,859,090 0.0% #* Seneca Foods Corp. Class A 33,144 890,911 0.0% #* Seneca Foods Corp. Class B 11,120 336,102 0.0% SpartanNash Co. 331,370 7,426,002 0.2% * Tofutti Brands, Inc. 53,404 266,486 0.0% # United-Guardian, Inc. 40,096 836,403 0.0% # Universal Corp. 98,144 4,367,408 0.1% #* USANA Health Sciences, Inc. 141,615 16,141,278 0.3% Village Super Market, Inc. Class A 69,464 1,927,626 0.0% # WD-40 Co. 151,846 11,642,033 0.2% # Weis Markets, Inc. 249 11,115 0.0% -------------------- ------------------ Total Consumer Staples 200,784,386 4.0% -------------------- ------------------ Energy -- (3.7%) #* Abraxas Petroleum Corp. 486,100 2,007,593 0.0% Adams Resources & Energy, Inc. 38,954 1,638,016 0.0% # Alon USA Energy, Inc. 406,206 6,515,544 0.1% #* Alpha Natural Resources, Inc. 586,320 1,149,187 0.0% AMEN Properties, Inc. 123 74,107 0.0% #* American Eagle Energy Corp. 12,112 21,075 0.0% #* Approach Resources, Inc. 202,666 2,006,393 0.0% * Barnwell Industries, Inc. 68,834 176,215 0.0% * Basic Energy Services, Inc. 474,728 6,123,991 0.1% #* Bill Barrett Corp. 200,043 3,040,654 0.1% Bolt Technology Corp. 77,310 1,695,408 0.0% #* BPZ Resources, Inc. 574,202 712,010 0.0% #* C&J Energy Services, Inc. 172,867 3,338,062 0.1% #* Callon Petroleum Co. 362,025 2,374,884 0.1% * Carrizo Oil & Gas, Inc. 162,806 8,456,144 0.2% * Cheniere Energy, Inc. 39,020 2,926,500 0.1% #* Clayton Williams Energy, Inc. 111,262 9,250,323 0.2% #* Clean Energy Fuels Corp. 305,021 2,229,704 0.0% #* Cloud Peak Energy, Inc. 368,334 4,408,958 0.1% # Comstock Resources, Inc. 330,845 3,917,205 0.1% * Contango Oil & Gas Co. 120,044 4,390,009 0.1% # Dawson Geophysical Co. 64,595 1,097,469 0.0% # DHT Holdings, Inc. 44,008 293,093 0.0% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Energy -- (Continued) * Earthstone Energy, Inc. 1,000 $ 23,780 0.0% #* Emerald Oil, Inc. 370,352 1,177,719 0.0% # Energy XXI Bermuda, Ltd. 50 385 0.0% * ENGlobal Corp. 238,421 312,332 0.0% # EnLink Midstream LLC 393,707 14,921,495 0.3% * Era Group, Inc. 20,289 474,560 0.0% * Escalera Resources Co. 58,194 65,759 0.0% Evolution Petroleum Corp. 27,969 264,587 0.0% #* FieldPoint Petroleum Corp. 49,014 138,710 0.0% #* Forbes Energy Services, Ltd. 2,400 6,912 0.0% #* Forest Oil Corp. 231,103 187,193 0.0% * Gastar Exploration, Inc. 466,152 1,864,608 0.0% #* Geospace Technologies Corp. 69,429 2,137,719 0.0% #* Goodrich Petroleum Corp. 71,912 592,555 0.0% # Green Plains, Inc. 325,926 11,146,669 0.2% # Gulf Island Fabrication, Inc. 110,881 2,344,024 0.1% # Gulfmark Offshore, Inc. Class A 112,621 3,396,649 0.1% #* Harvest Natural Resources, Inc. 283,514 1,054,672 0.0% #* Hercules Offshore, Inc. 442,819 730,651 0.0% #* HKN, Inc. 1,132 74,712 0.0% #* Hornbeck Offshore Services, Inc. 5,822 178,503 0.0% #* ION Geophysical Corp. 1,111,325 3,111,710 0.1% #* Key Energy Services, Inc. 980,608 2,981,048 0.1% #* Magnum Hunter Resources Corp. 32,369 150,192 0.0% #* Matador Resources Co. 153,797 3,732,653 0.1% * Matrix Service Co. 257,086 6,442,575 0.1% * Mexco Energy Corp. 8,988 53,479 0.0% #* Miller Energy Resources, Inc. 32,669 113,688 0.0% * Mitcham Industries, Inc. 80,711 823,252 0.0% * Natural Gas Services Group, Inc. 61,990 1,595,003 0.0% #* Newpark Resources, Inc. 863,527 9,870,114 0.2% #* Nordic American Offshore, Ltd. 571 9,136 0.0% # Nordic American Tankers, Ltd. 66,007 557,759 0.0% #* Northern Oil and Gas, Inc. 320,656 3,623,413 0.1% #* Nuverra Environmental Solutions, Inc. 136,121 1,289,066 0.0% #* Overseas Shipholding Group, Inc. 18,861 97,134 0.0% * Pacific Ethanol, Inc. 31 437 0.0% # Panhandle Oil and Gas, Inc. Class A 121,452 2,497,053 0.1% #* Parker Drilling Co. 876,045 3,889,640 0.1% #* Penn Virginia Corp. 625,621 5,361,572 0.1% #* PetroQuest Energy, Inc. 559,661 2,630,407 0.1% #* PHI, Inc. Non-Voting 113,759 5,089,578 0.1% #* PHI, Inc. Voting 9,745 414,260 0.0% * Pioneer Energy Services Corp. 427,910 3,928,214 0.1% * PostRock Energy Corp. 1,433 1,032 0.0% #* Renewable Energy Group, Inc. 168,755 1,776,990 0.0% #* REX American Resources Corp. 149,235 10,858,339 0.2% #* Rex Energy Corp. 296,053 2,321,056 0.1% #* RigNet, Inc. 35,072 1,523,878 0.0% #* Ring Energy, Inc. 3,968 68,250 0.0% #* Royale Energy, Inc. 45,629 119,548 0.0% # Scorpio Tankers, Inc. 23,960 209,171 0.0% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------ Energy -- (Continued) #* SEACOR Holdings, Inc. 4,654 $ 383,722 0.0% * Seventy Seven Energy, Inc. 9,763 127,602 0.0% # Ship Finance International, Ltd. 912 15,677 0.0% * Steel Excel, Inc. 73,655 2,246,477 0.1% #* Swift Energy Co. 55,787 382,141 0.0% #* Synergy Resources Corp. 569,758 6,945,350 0.1% #* Synthesis Energy Systems, Inc. 17,851 18,387 0.0% (Degree)#* Syntroleum Corp. 44,574 155,080 0.0% # Teekay Tankers, Ltd. Class A 11,910 50,498 0.0% # Tesco Corp. 181,013 3,446,488 0.1% #* TETRA Technologies, Inc. 593,947 5,660,315 0.1% #* TGC Industries, Inc. 110,887 348,185 0.0% #* Triangle Petroleum Corp. 697,163 5,403,013 0.1% #* Uranium Energy Corp. 123,123 141,591 0.0% #* US Energy Corp. Wyoming 71,870 187,581 0.0% #* Vaalco Energy, Inc. 571,484 4,240,411 0.1% # W&T Offshore, Inc. 185,160 1,683,104 0.0% * Warren Resources, Inc. 521,404 1,804,058 0.0% * Westmoreland Coal Co. 62,665 2,291,659 0.1% * Willbros Group, Inc. 385,891 2,265,180 0.1% * Yuma Energy, Inc. 22,699 77,177 0.0% #* Zion Oil & Gas, Inc. 5,765 10,031 0.0% -------------------- ------------------ Total Energy 221,960,112 4.4% -------------------- ------------------ Financials -- (14.6%) * 1st Constitution Bancorp 16,306 181,078 0.0% # 1st Source Corp. 194,458 6,084,591 0.1% # 1st United Bancorp, Inc. 35,937 318,042 0.0% #* A-Mark Precious Metals, Inc. 69,658 733,499 0.0% Access National Corp. 59,660 1,005,271 0.0% Alliance Bancorp, Inc. of Pennsylvania 13,199 217,652 0.0% #* Altisource Asset Management Corp. 9,319 5,032,260 0.1% #* Ambac Financial Group, Inc. 151,920 3,475,930 0.1% Ameriana Bancorp 20,650 349,811 0.0% # American Equity Investment Life Holding Co. 440,317 11,364,582 0.2% * American Independence Corp. 3,596 39,520 0.0% # American National Bankshares, Inc. 54,265 1,313,213 0.0% * American River Bankshares 20,521 194,949 0.0% (Degree)* American Spectrum Realty, Inc. 12,048 20,241 0.0% Ameris Bancorp 143,236 3,552,253 0.1% AMERISAFE, Inc. 142,199 5,929,698 0.1% # AmeriServ Financial, Inc. 189,054 595,520 0.0% * Anchor Bancorp, Inc. 800 16,520 0.0% # Argo Group International Holdings, Ltd. 52,793 2,945,849 0.1% # Arrow Financial Corp. 123,251 3,375,845 0.1% ASB Financial Corp. 4,400 59,400 0.0% * Asta Funding, Inc. 50,151 422,773 0.0% # Astoria Financial Corp. 549,934 7,231,632 0.2% Atlantic American Corp. 7,131 27,526 0.0% #* Atlantic Coast Financial Corp. 738 3,041 0.0% * Atlanticus Holdings Corp. 140,864 197,210 0.0% # Auburn National Bancorporation, Inc. 11,571 271,571 0.0% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) #* AV Homes, Inc. 80,688 $ 1,209,513 0.0% # Baldwin & Lyons, Inc. Class A 3,548 86,997 0.0% Baldwin & Lyons, Inc. Class B 91,316 2,458,227 0.1% # Banc of California, Inc. 41,921 493,410 0.0% # Bancfirst Corp. 119,581 7,772,765 0.2% Bancorp of New Jersey, Inc. 1,246 15,008 0.0% #* Bancorp, Inc. 229,512 2,171,184 0.1% # Bank Mutual Corp. 166,106 1,094,639 0.0% Bank of Commerce Holdings 19,956 120,734 0.0% Bank of Kentucky Financial Corp (The) 28,520 1,337,873 0.0% # BankFinancial Corp. 211,876 2,527,681 0.1% Banner Corp. 167,837 7,253,915 0.2% Bar Harbor Bankshares 40,992 1,192,867 0.0% BBCN Bancorp, Inc. 771,606 10,910,509 0.2% #* BBX Capital Corp. Class A 43,192 794,733 0.0% BCB Bancorp, Inc. 54,608 703,897 0.0% * Bear State Financial, Inc. 45,474 407,902 0.0% #* Beneficial Mutual Bancorp, Inc. 123,326 1,656,268 0.0% # Berkshire Bancorp, Inc. 10,471 87,695 0.0% # Berkshire Hills Bancorp, Inc. 149,615 3,857,075 0.1% # BGC Partners, Inc. Class A 455,287 3,860,834 0.1% BNC Bancorp 1,579 26,859 0.0% * BNCCORP, Inc. 12,585 226,530 0.0% #* BofI Holding, Inc. 159,876 12,313,650 0.3% # Boston Private Financial Holdings, Inc. 758,527 9,974,630 0.2% # Bridge Bancorp, Inc. 41,930 1,101,082 0.0% #* Bridge Capital Holdings 47,800 1,152,936 0.0% Brookline Bancorp, Inc. 602,326 5,776,306 0.1% * Brunswick Bancorp 120 576 0.0% # Bryn Mawr Bank Corp. 101,322 3,123,757 0.1% C&F Financial Corp. 14,164 486,392 0.0% # Calamos Asset Management, Inc. Class A 149,909 2,053,753 0.1% California First National Bancorp 81,133 1,225,108 0.0% # Camden National Corp. 77,063 3,152,647 0.1% # Cape Bancorp, Inc. 4,774 42,536 0.0% #* Capital Bank Financial Corp. Class A 23,086 597,697 0.0% # Capital City Bank Group, Inc. 150,073 2,267,603 0.1% (Degree) Capital Properties, Inc., 5.000% 9,939 9,843 0.0% * Capital Properties, Inc. Class A 11,044 134,405 0.0% Capital Southwest Corp. 40,128 1,471,092 0.0% # Cardinal Financial Corp. 279,930 5,374,656 0.1% * Carolina Bank Holdings, Inc. 4,335 41,009 0.0% #* Carver Bancorp, Inc. 300 2,175 0.0% * Cascade Bancorp 107,818 550,950 0.0% # Cash America International, Inc. 82,995 4,079,204 0.1% # Centerstate Banks, Inc. 65,856 766,564 0.0% # Central Pacific Financial Corp. 88,662 1,675,712 0.0% # Century Bancorp, Inc. Class A 18,900 717,822 0.0% Charter Financial Corp. 935 10,603 0.0% Chemical Financial Corp. 232,505 6,923,999 0.1% Chicopee Bancorp, Inc. 26,112 388,808 0.0% Citizens Community Bancorp, Inc. 4,432 39,445 0.0% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) * Citizens First Corp. 1,442 $ 16,583 0.0% Citizens Holding Co. 9,925 186,094 0.0% #* Citizens, Inc. 392,168 2,858,905 0.1% # City Holding Co. 161,264 7,255,267 0.2% CKX Lands, Inc. 14,943 239,237 0.0% # Clifton Bancorp, Inc. 77,484 1,008,842 0.0% # CNB Financial Corp. 54,933 994,837 0.0% # CoBiz Financial, Inc. 220,228 2,647,141 0.1% Codorus Valley Bancorp, Inc. 12,095 261,493 0.0% * Colonial Financial Services, Inc. 7,831 101,725 0.0% * Colony Bankcorp, Inc. 37,943 265,601 0.0% # Columbia Banking System, Inc. 336,003 9,334,163 0.2% Commercial National Financial Corp. 10,640 226,100 0.0% # Community Bank System, Inc. 285,167 10,879,121 0.2% * Community Bankers Trust Corp. 2,000 8,800 0.0% # Community Trust Bancorp, Inc. 151,885 5,460,266 0.1% Community West Bancshares 12,713 81,999 0.0% * CommunityOne Bancorp 216 2,298 0.0% ConnectOne Bancorp, Inc. 143,426 2,653,381 0.1% # Consolidated-Tomoka Land Co. 52,947 2,763,304 0.1% * Consumer Portfolio Services, Inc. 59,349 419,004 0.0% #* Cowen Group, Inc. Class A 350,148 1,414,598 0.0% # Crawford & Co. Class A 282,945 2,495,575 0.1% # Crawford & Co. Class B 145,019 1,476,293 0.0% #* Customers Bancorp, Inc. 22,142 422,912 0.0% # CVB Financial Corp. 281,593 4,443,538 0.1% * DGT Holdings Corp. 12,563 197,867 0.0% # Diamond Hill Investment Group, Inc. 710 95,133 0.0% # Dime Community Bancshares, Inc. 309,921 4,881,256 0.1% # Donegal Group, Inc. Class A 169,997 2,689,353 0.1% # Donegal Group, Inc. Class B 34,951 733,971 0.0% #* Doral Financial Corp. 4,060 23,589 0.0% Eagle Bancorp Montana, Inc. 578 6,185 0.0% * Eastern Virginia Bankshares, Inc. 8,084 50,040 0.0% #* eHealth, Inc. 116,569 2,908,397 0.1% # EMC Insurance Group, Inc. 116,209 3,723,336 0.1% Employers Holdings, Inc. 256,242 5,224,774 0.1% #* Encore Capital Group, Inc. 304,239 13,845,917 0.3% # Enterprise Bancorp, Inc. 36,296 854,045 0.0% # Enterprise Financial Services Corp. 60,515 1,140,708 0.0% # ESB Financial Corp. 161,234 3,008,626 0.1% ESSA Bancorp, Inc. 63,434 728,857 0.0% # Evans Bancorp, Inc. 11,667 271,199 0.0% #* Ezcorp, Inc. Class A 88,689 1,000,412 0.0% * Farmers Capital Bank Corp. 22,878 513,382 0.0% # FBL Financial Group, Inc. Class A 271,426 13,457,301 0.3% # Federal Agricultural Mortgage Corp. Class A 4,200 102,900 0.0% # Federal Agricultural Mortgage Corp. Class C 78,623 2,618,146 0.1% # Federated National Holding Co. 93,533 3,129,614 0.1% Fidelity Southern Corp. 99,943 1,534,125 0.0% # Financial Institutions, Inc. 73,008 1,835,421 0.0% * First Acceptance Corp. 59,247 151,672 0.0% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) First Bancorp of Indiana, Inc. 1,400 $ 21,378 0.0% # First Bancorp, Inc. 74,352 1,315,287 0.0% #* First BanCorp.(318672706) 298,028 1,552,726 0.0% # First Bancorp.(318910106) 142,584 2,583,622 0.1% * First Bancshares, Inc. 5,228 36,439 0.0% First Bancshares, Inc. (The) 4,544 68,342 0.0% # First Busey Corp. 497,828 3,111,425 0.1% # First Business Financial Services, Inc. 8,241 386,750 0.0% #* First Cash Financial Services, Inc. 15,823 934,823 0.0% # First Commonwealth Financial Corp. 736,560 6,886,836 0.1% # First Community Bancshares, Inc. 109,324 1,789,634 0.0% # First Connecticut Bancorp, Inc. 16,643 260,297 0.0% First Defiance Financial Corp. 69,440 2,126,947 0.1% # First Federal of Northern Michigan Bancorp, Inc. 13,700 66,993 0.0% First Financial Bancorp 349,056 6,122,442 0.1% # First Financial Corp. 122,228 4,238,867 0.1% First Financial Northwest, Inc. 46,371 537,904 0.0% #* First Financial Service Corp. 18,814 69,612 0.0% First Interstate Bancsystem, Inc. 111,083 3,259,175 0.1% #* First Marblehead Corp. (The) 4,947 12,219 0.0% First Merchants Corp. 256,114 5,800,982 0.1% # First Midwest Bancorp, Inc. 549,937 9,233,442 0.2% * First NBC Bank Holding Co. 9,468 347,760 0.0% (Degree)* First Place Financial Corp. 153,683 15 0.0% First South Bancorp, Inc. 59,381 489,893 0.0% #* First United Corp. 31,308 267,683 0.0% First West Virginia Bancorp 1,187 23,728 0.0% * Flagstar Bancorp, Inc. 170,118 2,674,255 0.1% # Flushing Financial Corp. 224,872 4,528,922 0.1% #* Forestar Group, Inc. 274,218 4,785,104 0.1% * Fortegra Financial Corp. 705 6,965 0.0% # Fox Chase Bancorp, Inc. 59,633 976,789 0.0% #* Franklin Financial Corp. 5,320 110,443 0.0% # FXCM, Inc. Class A 272,184 4,480,149 0.1% # Gain Capital Holdings, Inc. 71,533 612,322 0.0% # German American Bancorp, Inc. 65,691 1,962,190 0.1% GFI Group, Inc. 527,874 2,903,307 0.1% # Glacier Bancorp, Inc. 291,356 8,359,004 0.2% #* Global Indemnity P.L.C. 56,451 1,635,950 0.0% Gouverneur Bancorp, Inc. 4,366 51,082 0.0% # Great Southern Bancorp, Inc. 82,319 3,128,945 0.1% * Green Dot Corp. Class A 222,143 5,309,218 0.1% # Greenhill & Co., Inc. 147,759 6,649,155 0.1% * Greenlight Capital Re, Ltd. Class A 214,514 6,960,979 0.1% # Griffin Land & Nurseries, Inc. 48,979 1,280,801 0.0% # Guaranty Bancorp 62,993 993,400 0.0% # Guaranty Federal Bancshares, Inc. 17,335 220,068 0.0% * Hallmark Financial Services, Inc. 106,399 1,240,612 0.0% # Hampden Bancorp, Inc. 3,433 59,048 0.0% * Hampton Roads Bankshares, Inc. 8,405 14,625 0.0% # Hanmi Financial Corp. 242,124 5,193,560 0.1% Harleysville Savings Financial Corp. 12,400 208,940 0.0% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) Hawthorn Bancshares, Inc. 6,195 $ 85,243 0.0% # HCI Group, Inc. 99,705 5,069,002 0.1% # Heartland Financial USA, Inc. 133,135 3,541,391 0.1% # Heritage Commerce Corp. 110,586 962,098 0.0% # Heritage Financial Corp. 149,771 2,628,481 0.1% Heritage Financial Group, Inc. 16,112 341,413 0.0% HF Financial Corp. 34,791 472,810 0.0% HFF, Inc. Class A 290,135 9,133,450 0.2% * Hilltop Holdings, Inc. 411,361 9,062,283 0.2% Hingham Institution for Savings 14,511 1,200,350 0.0% * HMN Financial, Inc. 37,346 484,004 0.0% * Home Bancorp, Inc. 4,852 110,577 0.0% Home BancShares, Inc. 103,560 3,305,635 0.1% # HomeStreet, Inc. 1,049 18,274 0.0% #* HomeTrust Bancshares, Inc. 4,716 72,862 0.0% HopFed Bancorp, Inc. 18,198 208,185 0.0% Horace Mann Educators Corp. 426,348 12,965,243 0.3% # Horizon Bancorp 36,923 949,660 0.0% # Hudson Valley Holding Corp. 20,209 459,553 0.0% #* Imperial Holdings, Inc. 2,803 17,575 0.0% # Independence Holding Co. 71,308 1,009,008 0.0% # Independent Bank Corp.(453836108) 177,439 7,239,511 0.2% # Independent Bank Corp.(453838609) 34,130 411,949 0.0% # Independent Bank Group, Inc. 4,379 195,698 0.0% Infinity Property & Casualty Corp. 134,471 9,817,728 0.2% Interactive Brokers Group, Inc. Class A 531,116 13,713,415 0.3% * InterGroup Corp. (The) 6,500 123,500 0.0% Intervest Bancshares Corp. Class A 7,618 74,276 0.0% #* INTL. FCStone, Inc. 89,303 1,616,384 0.0% * Investment Technology Group, Inc. 179,808 3,223,957 0.1% # Investors Bancorp, Inc. 187,691 2,017,678 0.1% Investors Title Co. 21,301 1,596,510 0.0% * Jacksonville Bancorp, Inc. 259 2,771 0.0% JMP Group, Inc. 80,935 590,825 0.0% #* JW Mays, Inc. 2,700 133,650 0.0% * KCG Holdings, Inc. Class A 66,263 706,364 0.0% #* Kearny Financial Corp. 35,232 501,704 0.0% Kennedy-Wilson Holdings, Inc. 11,886 321,992 0.0% Kentucky First Federal Bancorp 38,012 311,318 0.0% #* Ladenburg Thalmann Financial Services, Inc. 88,409 377,506 0.0% Lake Shore Bancorp, Inc. 3,521 48,766 0.0% Lakeland Bancorp, Inc. 226,529 2,489,554 0.1% # Lakeland Financial Corp. 108,043 4,477,302 0.1% # Landmark Bancorp, Inc. 14,114 337,325 0.0% # Life Partners Holdings, Inc. 108,784 199,075 0.0% LNB Bancorp, Inc. 58,795 825,482 0.0% Louisiana Bancorp, Inc. 1,237 25,829 0.0% LSB Financial Corp. 2,914 126,992 0.0% # Macatawa Bank Corp. 202,123 1,053,061 0.0% * Magyar Bancorp, Inc. 15,818 137,458 0.0% # Maiden Holdings, Ltd. 324,625 3,879,269 0.1% MainSource Financial Group, Inc. 134,470 2,446,009 0.1% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) * Malvern Bancorp, Inc. 8,513 $ 95,516 0.0% Manning & Napier, Inc. 7,262 115,030 0.0% Marlin Business Services Corp. 68,365 1,445,236 0.0% #* Maui Land & Pineapple Co., Inc. 49,270 301,040 0.0% # MB Financial, Inc. 130,789 4,126,393 0.1% * MBT Financial Corp. 20,076 93,353 0.0% # Meadowbrook Insurance Group, Inc. 457,609 2,914,969 0.1% # Medallion Financial Corp. 63,610 734,695 0.0% # Mercantile Bank Corp. 49,248 971,663 0.0% # Merchants Bancshares, Inc. 61,287 1,825,740 0.0% #* Meridian Bancorp, Inc. 121,075 1,372,990 0.0% # Meta Financial Group, Inc. 27,483 1,030,887 0.0% * Metro Bancorp, Inc. 126,758 3,174,020 0.1% MicroFinancial, Inc. 84,643 710,155 0.0% Mid Penn Bancorp, Inc. 7,759 120,187 0.0% # MidSouth Bancorp, Inc. 59,150 1,120,301 0.0% # MidWestOne Financial Group, Inc. 16,539 441,261 0.0% * MSB Financial Corp. 2,696 24,372 0.0% MutualFirst Financial, Inc. 39,230 853,252 0.0% National Bank Holdings Corp. Class A 22,833 447,298 0.0% # National Interstate Corp. 60,024 1,707,083 0.0% National Penn Bancshares, Inc. 257,959 2,654,395 0.1% National Security Group, Inc. (The) 12,602 171,513 0.0% # National Western Life Insurance Co. Class A 12,021 3,257,691 0.1% * Naugatuck Valley Financial Corp. 7,309 58,107 0.0% * Navigators Group, Inc. (The) 83,060 5,655,555 0.1% # NBT Bancorp, Inc. 292,900 7,521,672 0.2% Nelnet, Inc. Class A 17,230 819,976 0.0% # New Hampshire Thrift Bancshares, Inc. 21,740 343,927 0.0% #* NewBridge Bancorp 136,882 1,216,881 0.0% #* NewStar Financial, Inc. 193,058 2,641,033 0.1% Nicholas Financial, Inc. 41,301 504,285 0.0% Northeast Bancorp 4,362 39,302 0.0% Northeast Community Bancorp, Inc. 24,952 174,664 0.0% # Northfield Bancorp, Inc. 266,065 3,788,766 0.1% Northrim BanCorp, Inc. 44,423 1,283,825 0.0% Northway Financial, Inc. 1,076 21,789 0.0% # Northwest Bancshares, Inc. 440,044 5,645,765 0.1% # Norwood Financial Corp. 10,591 306,821 0.0% # Ocean Shore Holding Co. 20,561 296,078 0.0% OceanFirst Financial Corp. 117,015 1,938,939 0.0% OFG Bancorp 347,506 5,410,668 0.1% Ohio Valley Banc Corp. 16,910 403,642 0.0% # Old Line Bancshares, Inc. 22,285 356,114 0.0% Old National Bancorp 317,882 4,625,183 0.1% * Old Second Bancorp, Inc. 120,505 578,424 0.0% OmniAmerican Bancorp, Inc. 88,259 2,386,523 0.1% # OneBeacon Insurance Group, Ltd. Class A 7,265 115,731 0.0% # Oppenheimer Holdings, Inc. Class A 17,944 440,525 0.0% Oritani Financial Corp. 380,386 5,618,301 0.1% Pacific Continental Corp. 91,878 1,324,881 0.0% * Pacific Mercantile Bancorp 8,084 56,911 0.0% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) #* Pacific Premier Bancorp, Inc. 81,665 $ 1,322,156 0.0% PacWest Bancorp 58,690 2,503,715 0.1% # Park National Corp. 35,882 3,027,364 0.1% Park Sterling Corp. 252,060 1,930,780 0.0% * Patriot National Bancorp, Inc. 2,900 5,336 0.0% # Peapack Gladstone Financial Corp. 107,510 1,962,057 0.1% # Penns Woods Bancorp, Inc. 36,321 1,762,658 0.0% Peoples Bancorp 3,331 80,444 0.0% # Peoples Bancorp of North Carolina, Inc. 15,956 279,230 0.0% # Peoples Bancorp, Inc. 94,701 2,334,380 0.1% #* PHH Corp. 178,773 4,235,132 0.1% #* Phoenix Cos., Inc. (The) 48,205 2,861,449 0.1% #* PICO Holdings, Inc. 178,651 3,948,187 0.1% Pinnacle Financial Partners, Inc. 303,756 11,907,235 0.2% * Piper Jaffray Cos. 4,037 227,929 0.0% * Porter Bancorp, Inc. 8,284 5,809 0.0% # Preferred Bank 59,308 1,576,407 0.0% Premier Financial Bancorp, Inc. 47,695 694,916 0.0% PrivateBancorp, Inc. 46,664 1,508,180 0.0% Provident Financial Holdings, Inc. 69,795 1,017,611 0.0% # Provident Financial Services, Inc. 131,007 2,388,258 0.1% Prudential Bancorp, Inc. 27,615 334,970 0.0% * PSB Holdings, Inc. 1,113 8,526 0.0% # Pulaski Financial Corp. 85,066 1,018,240 0.0% # Pzena Investment Management, Inc. Class A 55,393 556,700 0.0% * QC Holdings, Inc. 171,139 290,936 0.0% QCR Holdings, Inc. 100 1,775 0.0% # RCS Capital Corp. Class A 42,483 697,146 0.0% #* Regional Management Corp. 11,396 132,877 0.0% # Renasant Corp. 173,222 5,222,643 0.1% # Republic Bancorp, Inc. Class A 196,758 4,771,381 0.1% #* Republic First Bancorp, Inc. 76,545 303,884 0.0% # Resource America, Inc. Class A 169,832 1,620,197 0.0% * Riverview Bancorp, Inc. 102,676 417,891 0.0% * Royal Bancshares of Pennsylvania, Inc. Class A 26,610 49,761 0.0% # S&T Bancorp, Inc. 212,537 5,863,896 0.1% #* Safeguard Scientifics, Inc. 178,060 3,552,297 0.1% Safety Insurance Group, Inc. 99,667 6,217,227 0.1% Salisbury Bancorp, Inc. 7,752 212,792 0.0% # Sandy Spring Bancorp, Inc. 183,222 4,727,128 0.1% SB Financial Group, Inc. 2,810 25,683 0.0% #* Seacoast Banking Corp. of Florida 29,936 381,983 0.0% #* Security National Financial Corp. Class A 23,202 115,778 0.0% * Select Bancorp, Inc. 9,127 61,790 0.0% Selective Insurance Group, Inc. 157,685 4,071,427 0.1% #* Shore Bancshares, Inc. 35,120 322,402 0.0% SI Financial Group, Inc. 20,041 221,253 0.0% * Siebert Financial Corp. 13,141 28,779 0.0% # Sierra Bancorp 88,637 1,521,011 0.0% # Simmons First National Corp. Class A 140,292 5,890,861 0.1% Simplicity Bancorp, Inc. 21,206 351,383 0.0% South State Corp. 138,771 8,369,279 0.2% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) * Southcoast Financial Corp. 4,265 $ 29,599 0.0% (Degree) Southern Community Financial Corp. 45,616 42,227 0.0% * Southern First Bancshares, Inc. 30,135 438,163 0.0% Southern Missouri Bancorp, Inc. 7,832 289,549 0.0% # Southern National Bancorp of Virginia, Inc. 1,014 11,742 0.0% # Southside Bancshares, Inc. 121,447 4,078,190 0.1% Southwest Bancorp, Inc. 132,341 2,386,108 0.1% Southwest Georgia Financial Corp. 12,047 162,635 0.0% # State Auto Financial Corp. 84,922 1,777,417 0.0% # Sterling Bancorp 759,169 10,673,916 0.2% Stewart Information Services Corp. 171,058 6,041,769 0.1% # Stock Yards Bancorp, Inc. 129,832 4,320,809 0.1% * Stratus Properties, Inc. 70,975 980,874 0.0% Suffolk Bancorp 116,114 2,665,977 0.1% # Summit State Bank 1,118 14,411 0.0% #* Sun Bancorp, Inc. 57,146 1,154,349 0.0% Sussex Bancorp 8,000 80,400 0.0% #* SWS Group, Inc. 265,182 1,959,695 0.0% #* Tejon Ranch Co. 214,847 6,484,082 0.1% # Territorial Bancorp, Inc. 41,856 899,067 0.0% Timberland Bancorp, Inc. 70,526 744,755 0.0% # Tompkins Financial Corp. 91,683 4,602,487 0.1% # Towne Bank 118,029 1,789,320 0.0% #* Tree.com, Inc. 40,001 1,479,637 0.0% # Trico Bancshares 156,674 4,120,526 0.1% * Trinity Place Holdings, Inc. 143,600 827,136 0.0% #* TriState Capital Holdings, Inc. 5,603 54,629 0.0% # TrustCo Bank Corp. 724,129 5,286,142 0.1% * Unico American Corp. 113,843 1,325,133 0.0% # Union Bankshares Corp. 255,106 5,734,783 0.1% Union Bankshares, Inc. 14,917 365,317 0.0% United Bancshares, Inc. 6,297 93,322 0.0% United Community Bancorp 1,415 16,881 0.0% # United Community Banks, Inc. 314,414 5,668,884 0.1% # United Community Financial Corp. 290,072 1,485,169 0.0% United Financial Bancorp, Inc. 289,848 4,066,567 0.1% # United Fire Group, Inc. 191,195 6,210,014 0.1% * United Security Bancshares 113,604 641,863 0.0% Unity Bancorp, Inc. 36,063 330,337 0.0% # Universal Insurance Holdings, Inc. 332,431 5,817,542 0.1% # Univest Corp. of Pennsylvania 102,999 2,113,539 0.1% ViewPoint Financial Group, Inc. 346,648 9,453,091 0.2% Virtus Investment Partners, Inc. 18,726 3,355,886 0.1% # VSB Bancorp, Inc. 2,848 33,678 0.0% #* Walker & Dunlop, Inc. 158,922 2,560,233 0.1% * Walter Investment Management Corp. 3,218 73,113 0.0% # Washington Trust Bancorp, Inc. 129,604 4,972,905 0.1% Waterstone Financial, Inc. 88,313 1,080,951 0.0% Wayne Savings Bancshares, Inc. 3,361 43,189 0.0% # WesBanco, Inc. 248,112 8,549,940 0.2% # West Bancorporation, Inc. 89,233 1,479,483 0.0% # Westamerica Bancorporation 10,247 505,587 0.0% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Financials -- (Continued) * Western Alliance Bancorp 615,654 $ 16,388,709 0.3% Westfield Financial, Inc. 149,090 1,054,066 0.0% # Westwood Holdings Group, Inc. 66,804 4,509,270 0.1% Wilshire Bancorp, Inc. 690,818 6,839,098 0.1% #* WisdomTree Investments, Inc. 132,686 1,957,118 0.0% #* World Acceptance Corp. 147,186 10,547,349 0.2% * Wright Investors' Service Holdings, Inc. 109,400 175,040 0.0% # WSFS Financial Corp. 21,054 1,655,897 0.0% WVS Financial Corp. 12,479 136,333 0.0% * Yadkin Financial Corp. 27,937 542,257 0.0% -------------------- ------------------ Total Financials 879,738,476 17.5% -------------------- ------------------ Health Care -- (8.4%) # Abaxis, Inc. 55,647 2,930,371 0.1% #* Accelerate Diagnostics, Inc. 40,089 870,733 0.0% #* Accretive Health, Inc. 11,937 85,946 0.0% #* Accuray, Inc. 160,210 1,014,129 0.0% #* Achillion Pharmaceuticals, Inc. 114,813 1,349,053 0.0% #* Acorda Therapeutics, Inc. 196,779 6,851,845 0.1% #* Adcare Health Systems, Inc. 2,242 9,685 0.0% #* Addus HomeCare Corp. 23,481 466,567 0.0% #* Affymetrix, Inc. 623,781 5,620,267 0.1% #* Albany Molecular Research, Inc. 352,051 8,188,706 0.2% #* Alliance HealthCare Services, Inc. 91,018 2,196,264 0.1% #* Allied Healthcare Products, Inc. 22,068 41,488 0.0% * Almost Family, Inc. 47,397 1,395,368 0.0% #* Alphatec Holdings, Inc. 248,211 377,281 0.0% #* AMAG Pharmaceuticals, Inc. 130,184 4,297,374 0.1% #* Amedisys, Inc. 219,624 5,732,186 0.1% * American Shared Hospital Services 35,563 77,172 0.0% * Amicus Therapeutics, Inc. 1,613 9,355 0.0% * AMN Healthcare Services, Inc. 398,878 6,840,758 0.1% * Amsurg Corp. 250,349 13,521,349 0.3% * Anacor Pharmaceuticals, Inc. 2,100 61,761 0.0% # Analogic Corp. 129,957 9,479,064 0.2% #* AngioDynamics, Inc. 240,807 4,093,719 0.1% #* ANI Pharmaceuticals, Inc. 2,387 81,063 0.0% #* Anika Therapeutics, Inc. 171,467 6,882,685 0.1% * Arqule, Inc. 71,682 82,434 0.0% * Arrhythmia Research Technology, Inc. 16,626 107,238 0.0% * AtriCure, Inc. 3,668 63,970 0.0% # Atrion Corp. 19,961 6,587,330 0.1% #* Auxilium Pharmaceuticals, Inc. 121,833 3,919,368 0.1% * AVEO Pharmaceuticals, Inc. 75,858 73,582 0.0% #* Bio-Reference Laboratories, Inc. 189,729 5,699,459 0.1% #* Bioanalytical Systems, Inc. 7,157 16,461 0.0% #* Biodel, Inc. 39,257 60,848 0.0% #* Biolase, Inc. 2,035 4,843 0.0% #* BioScrip, Inc. 721,649 4,661,853 0.1% * Biospecifics Technologies Corp. 31,013 1,244,242 0.0% * Biota Pharmaceuticals, Inc. 76,328 187,004 0.0% #* BioTelemetry, Inc. 123,624 1,037,205 0.0% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Health Care -- (Continued) #* Bovie Medical Corp. 158,699 $ 625,274 0.0% * Cambrex Corp. 310,730 6,550,188 0.1% Cantel Medical Corp. 297,616 12,618,918 0.3% #* Capital Senior Living Corp. 262,868 5,914,530 0.1% * CASI Pharmaceuticals, Inc. 1,607 2,877 0.0% * Catalyst Pharmaceutical Partners, Inc. 25,086 74,505 0.0% #* Celsion Corp. 18,314 50,180 0.0% #* ChemoCentryx, Inc. 3,800 21,356 0.0% #* Columbia Laboratories, Inc. 3,466 21,420 0.0% # Computer Programs & Systems, Inc. 95,972 6,044,317 0.1% # CONMED Corp. 254,463 10,684,901 0.2% (Degree) Contra Furiex Pharmaceuticals 16,188 158,157 0.0% #* Corcept Therapeutics, Inc. 199,501 648,378 0.0% * Corvel Corp. 270,276 9,302,900 0.2% #* Cross Country Healthcare, Inc. 255,090 2,466,720 0.1% # CryoLife, Inc. 256,708 2,633,824 0.1% #* Cumberland Pharmaceuticals, Inc. 169,380 829,962 0.0% * Cutera, Inc. 114,990 1,207,395 0.0% #* Cyberonics, Inc. 133,554 7,011,585 0.1% #* Cyclacel Pharmaceuticals, Inc. 4,300 13,889 0.0% * Cynosure, Inc. Class A 246,394 6,231,304 0.1% #* Cytokinetics, Inc. 32,099 117,803 0.0% Daxor Corp. 43,502 279,065 0.0% #* Depomed, Inc. 127,256 1,959,742 0.0% Digirad Corp. 104,281 448,408 0.0% #* Discovery Laboratories, Inc. 16,454 30,111 0.0% #* Durect Corp. 167,461 122,247 0.0% #* Dynavax Technologies Corp. 2,993 4,909 0.0% #* Emergent Biosolutions, Inc. 291,419 6,591,898 0.1% # Ensign Group, Inc. (The) 173,577 6,720,901 0.1% #* EnteroMedics, Inc. 633 848 0.0% #* Enzo Biochem, Inc. 274,574 1,433,276 0.0% * EPIRUS Biopharmaceuticals, Inc. 686 3,396 0.0% * ERBA Diagnostics, Inc. 119 367 0.0% #* Exact Sciences Corp. 171,878 4,137,103 0.1% #* Exactech, Inc. 101,444 2,160,757 0.1% #* ExamWorks Group, Inc. 138,917 5,387,201 0.1% #* Fibrocell Science, Inc. 3,400 9,520 0.0% * Five Star Quality Care, Inc. 240,929 995,037 0.0% #* Galena Biopharma, Inc. 319 654 0.0% * Gentiva Health Services, Inc. 182,639 3,597,988 0.1% * Greatbatch, Inc. 248,195 12,456,907 0.3% #* Hanger, Inc. 284,956 6,818,997 0.1% * Harvard Apparatus Regenerative Technology, Inc. 78,007 489,884 0.0% * Harvard Bioscience, Inc. 304,952 1,463,770 0.0% #* HealthStream, Inc. 130,831 4,050,528 0.1% #* Healthways, Inc. 279,170 4,327,135 0.1% #* Hemispherx Biopharma, Inc. 93,100 26,999 0.0% * Hooper Holmes, Inc. 568,507 312,679 0.0% * Hyperion Therapeutics, Inc. 2,450 59,535 0.0% * Icad, Inc. 7,500 84,375 0.0% * ICU Medical, Inc. 154,597 10,960,927 0.2% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Health Care -- (Continued) #* Idera Pharmaceuticals, Inc. 288,928 $ 736,766 0.0% #* Infinity Pharmaceuticals, Inc. 77,087 1,049,925 0.0% #* Insys Therapeutics, Inc. 34,541 1,404,955 0.0% #* Integra LifeSciences Holdings Corp. 71,579 3,658,403 0.1% # Invacare Corp. 258,716 4,064,428 0.1% #* IPC The Hospitalist Co., Inc. 124,901 5,203,376 0.1% * Iridex Corp. 28,807 225,271 0.0% #* IsoRay, Inc. 20 35 0.0% #* Keryx Biopharmaceuticals, Inc. 45,500 766,675 0.0% Kewaunee Scientific Corp. 25,060 436,044 0.0% Kindred Healthcare, Inc. 466,477 10,145,875 0.2% # Landauer, Inc. 88,155 3,155,067 0.1% #* Lannett Co., Inc. 148,344 8,414,072 0.2% LeMaitre Vascular, Inc. 170,177 1,245,696 0.0% #* LHC Group, Inc. 120,760 2,940,506 0.1% #* Ligand Pharmaceuticals, Inc. Class B 88,712 4,903,112 0.1% #* Luminex Corp. 72,828 1,383,732 0.0% * Magellan Health Services, Inc. 3,052 184,707 0.0% #* Masimo Corp. 121,620 3,069,689 0.1% #* Mast Therapeutics, Inc. 72,438 36,864 0.0% * MedAssets, Inc. 545,633 11,818,411 0.2% (Degree)* MedCath Corp. 92,602 -- 0.0% * Medicines Co. (The) 15,763 399,119 0.0% #* MediciNova, Inc. 75,542 269,685 0.0% #* Merge Healthcare, Inc. 13,207 36,319 0.0% # Meridian Bioscience, Inc. 148,894 2,760,495 0.1% * Merit Medical Systems, Inc. 445,744 6,753,022 0.1% * MGC Diagnostics Corp. 1,294 8,877 0.0% * Misonix, Inc. 62,750 838,340 0.0% #* Momenta Pharmaceuticals, Inc. 327,726 3,575,491 0.1% # National Healthcare Corp. 104,718 6,315,543 0.1% #* National Research Corp. Class A 201,717 3,205,283 0.1% #* National Research Corp. Class B 33,719 1,103,286 0.0% * Natus Medical, Inc. 318,890 10,842,260 0.2% #* Neogen Corp. 53,290 2,339,431 0.1% * NuVasive, Inc. 346,328 14,164,815 0.3% #* Oculus Innovative Sciences, Inc. 30 57 0.0% #* Omnicell, Inc. 299,292 9,670,125 0.2% * OncoGenex Pharmaceutical, Inc. 16,093 36,048 0.0% #* OraSure Technologies, Inc. 97,370 871,461 0.0% * Orthofix International NV 119,415 3,504,830 0.1% #* Pacific Biosciences of California, Inc. 42,670 279,915 0.0% * Pain Therapeutics, Inc. 181,805 316,341 0.0% Paratek Pharmaceuticals, Inc. 9,268 150,602 0.0% * PDI, Inc. 162,636 295,998 0.0% # PDL BioPharma, Inc. 1,010,688 8,621,169 0.2% #* Pernix Therapeutics Holdings, Inc. 46,710 455,422 0.0% #* PharMerica Corp. 281,752 8,083,465 0.2% #* PhotoMedex, Inc. 27,458 105,439 0.0% # Pozen, Inc. 172,910 1,568,294 0.0% * Prestige Brands Holdings, Inc. 348,415 12,340,859 0.3% #* Progenics Pharmaceuticals, Inc. 162,555 785,141 0.0% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------ Health Care -- (Continued) #* ProPhase Labs, Inc. 56,585 $ 78,653 0.0% * Providence Service Corp. (The) 140,444 6,204,816 0.1% #* pSivida Corp. 12,109 47,709 0.0% Psychemedics Corp. 1,558 22,498 0.0% # Quality Systems, Inc. 183,133 2,767,140 0.1% #* Quidel Corp. 219,089 6,254,991 0.1% #* RadNet, Inc. 144,013 1,339,321 0.0% * Receptos, Inc. 21,245 2,202,044 0.1% #* Repligen Corp. 376,756 9,501,786 0.2% #* Repros Therapeutics, Inc. 10,473 66,399 0.0% #* Retractable Technologies, Inc. 4,372 15,783 0.0% #* Rigel Pharmaceuticals, Inc. 262,956 520,653 0.0% #* RTI Surgical, Inc. 387,455 1,972,146 0.0% #* RXi Pharmaceuticals Corp. 10 20 0.0% #* Sagent Pharmaceuticals, Inc. 37,783 1,195,454 0.0% * Sciclone Pharmaceuticals, Inc. 504,897 3,857,413 0.1% Select Medical Holdings Corp. 21,611 311,631 0.0% Simulations Plus, Inc. 123,672 784,080 0.0% #* Skilled Healthcare Group, Inc. Class A 128,935 893,520 0.0% Span-America Medical Systems, Inc. 32,884 619,863 0.0% #* Special Diversified Opportunities, Inc. 4,062 4,834 0.0% #* Spectrum Pharmaceuticals, Inc. 458,220 3,473,308 0.1% #* Staar Surgical Co. 35,192 336,787 0.0% #* StemCells, Inc. 11,628 13,837 0.0% * Stereotaxis, Inc. 10,471 20,733 0.0% #* Sucampo Pharmaceuticals, Inc. Class A 129,736 1,118,324 0.0% #* SurModics, Inc. 152,976 3,311,930 0.1% #* Symmetry Medical, Inc. 288,665 2,857,783 0.1% #* Targacept, Inc. 65,625 153,562 0.0% #* Thoratec Corp. 41,386 1,124,871 0.0% #* Threshold Pharmaceuticals, Inc. 17,876 52,377 0.0% * Tonix Pharmaceuticals Holding Corp. 3,000 22,710 0.0% * Tornier NV 125,623 3,511,163 0.1% #* Triple-S Management Corp. Class B 120,776 2,673,981 0.1% #* Universal American Corp. 546,585 5,094,172 0.1% * Uroplasty, Inc. 12,179 30,448 0.0% # US Physical Therapy, Inc. 115,372 4,978,302 0.1% # Utah Medical Products, Inc. 48,415 2,749,972 0.1% #* Vascular Solutions, Inc. 162,076 4,766,655 0.1% * Vical, Inc. 9,524 11,905 0.0% #* Volcano Corp. 38,355 388,153 0.0% #* Wright Medical Group, Inc. 317,305 10,033,184 0.2% * XenoPort, Inc. 4,355 29,527 0.0% (Degree)* Xstelos Holdings, Inc. 81,000 27,540 0.0% -------------------- ------------------ Total Health Care 504,368,292 10.0% -------------------- ------------------ Industrials -- (15.6%) # AAON, Inc. 622,838 12,238,767 0.2% # AAR Corp. 302,782 8,023,723 0.2% # ABM Industries, Inc. 57,107 1,578,437 0.0% # Acacia Research Corp. 44,214 795,852 0.0% * ACCO Brands Corp. 412,120 3,391,748 0.1% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) * Accuride Corp. 71,484 $ 344,553 0.0% Aceto Corp. 284,045 6,459,183 0.1% Acme United Corp. 30,407 524,521 0.0% * Active Power, Inc. 65,376 120,292 0.0% #* Adept Technology, Inc. 106,218 752,023 0.0% #* Aegion Corp. 312,053 5,716,811 0.1% #* AeroCentury Corp. 9,017 100,269 0.0% #* Aerovironment, Inc. 244,009 7,478,876 0.2% * Air Transport Services Group, Inc. 346,323 2,832,922 0.1% # Aircastle, Ltd. 224,541 4,284,242 0.1% Alamo Group, Inc. 91,291 3,910,906 0.1% # Albany International Corp. Class A 236,668 8,941,317 0.2% (Degree) Allied Defense Group, Inc. 51,940 4,155 0.0% Allied Motion Technologies, Inc. 39,424 578,744 0.0% # Altra Industrial Motion Corp. 243,548 7,676,633 0.2% #* Ameresco, Inc. Class A 104,747 863,115 0.0% # American Railcar Industries, Inc. 183,840 12,098,510 0.2% # American Science & Engineering, Inc. 68,770 3,802,981 0.1% #* American Superconductor Corp. 58,302 76,376 0.0% * American Woodmark Corp. 137,151 5,610,847 0.1% #* AMREP Corp. 66,450 258,491 0.0% # Apogee Enterprises, Inc. 317,666 13,945,537 0.3% * ARC Document Solutions, Inc. 263,109 2,670,556 0.1% ArcBest Corp. 174,561 6,755,511 0.1% Argan, Inc. 73,582 2,561,389 0.1% #* Arotech Corp. 120,037 354,109 0.0% Art's-Way Manufacturing Co., Inc. 200 1,128 0.0% # Astec Industries, Inc. 179,904 6,820,161 0.1% #* Astronics Corp. 134,937 6,991,086 0.1% * Astronics Corp. Class B 53,474 2,764,606 0.1% #* Atlas Air Worldwide Holdings, Inc. 77,753 2,870,641 0.1% * Avalon Holdings Corp. Class A 20,575 72,013 0.0% # AZZ, Inc. 247,601 11,577,823 0.2% # Baltic Trading, Ltd. 142,473 534,274 0.0% # Barrett Business Services, Inc. 85,035 1,999,173 0.0% #* Beacon Roofing Supply, Inc. 5,869 162,395 0.0% * Blount International, Inc. 508,279 7,781,751 0.2% * BlueLinx Holdings, Inc. 184,488 221,386 0.0% Brady Corp. Class A 31,942 761,497 0.0% * Breeze-Eastern Corp. 98,241 1,022,689 0.0% # Briggs & Stratton Corp. 416,654 8,420,577 0.2% Brink's Co. (The) 68,780 1,444,380 0.0% * Broadwind Energy, Inc. 890 5,678 0.0% #* Builders FirstSource, Inc. 116,386 690,169 0.0% #* CAI International, Inc. 134,003 2,820,763 0.1% #* Casella Waste Systems, Inc. Class A 99,712 448,704 0.0% #* CBIZ, Inc. 617,182 5,696,590 0.1% CDI Corp. 105,068 1,806,119 0.0% # Ceco Environmental Corp. 152,548 2,184,487 0.0% Celadon Group, Inc. 223,808 4,355,304 0.1% #* Cenveo, Inc. 35,336 80,566 0.0% # Chicago Rivet & Machine Co. 17,700 549,231 0.0% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) # CIRCOR International, Inc. 135,901 $ 10,212,960 0.2% Columbus McKinnon Corp. 172,456 4,906,373 0.1% # Comfort Systems USA, Inc. 329,710 5,064,346 0.1% * Command Security Corp. 17,842 40,145 0.0% #* Commercial Vehicle Group, Inc. 134,946 883,896 0.0% Compx International, Inc. 18,270 203,345 0.0% Conrad Industries, Inc. 18,700 715,275 0.0% Courier Corp. 120,220 1,631,385 0.0% * Covenant Transportation Group, Inc. Class A 91,609 1,899,971 0.0% #* CPI Aerostructures, Inc. 48,356 461,800 0.0% * CRA International, Inc. 101,190 3,035,700 0.1% #* CTPartners Executive Search, Inc. 8,185 149,376 0.0% Cubic Corp. 15,652 755,052 0.0% # Douglas Dynamics, Inc. 178,061 3,691,205 0.1% * Ducommun, Inc. 96,765 2,555,564 0.1% * DXP Enterprises, Inc. 95,853 6,354,095 0.1% #* Dycom Industries, Inc. 309,917 9,728,295 0.2% # Dynamic Materials Corp. 77,963 1,419,706 0.0% Eastern Co. (The) 56,509 922,227 0.0% #* Echo Global Logistics, Inc. 106,746 2,789,273 0.1% Ecology and Environment, Inc. Class A 19,292 190,798 0.0% # Encore Wire Corp. 212,559 8,064,488 0.2% #* Energy Recovery, Inc. 244,812 1,121,239 0.0% * Engility Holdings, Inc. 67,303 2,907,490 0.1% # Ennis, Inc. 222,936 3,306,141 0.1% #* EnPro Industries, Inc. 210,828 13,604,731 0.3% * Environmental Tectonics Corp. 60,400 141,940 0.0% EnviroStar, Inc. 33,694 87,604 0.0% ESCO Technologies, Inc. 164,307 6,246,952 0.1% Espey Manufacturing & Electronics Corp. 35,587 676,153 0.0% # Exponent, Inc. 135,915 10,848,735 0.2% Federal Signal Corp. 578,041 8,208,182 0.2% # Forward Air Corp. 253,505 12,135,284 0.2% #* Franklin Covey Co. 169,691 3,327,641 0.1% # FreightCar America, Inc. 87,095 2,871,522 0.1% #* FTI Consulting, Inc. 22,441 906,168 0.0% #* Fuel Tech, Inc. 136,361 552,262 0.0% * Furmanite Corp. 369,888 2,766,762 0.1% G&K Services, Inc. Class A 163,987 10,342,660 0.2% * Gencor Industries, Inc. 15,936 154,420 0.0% #* GenCorp, Inc. 240,744 4,083,018 0.1% # General Cable Corp. 79,221 1,122,562 0.0% * Gibraltar Industries, Inc. 277,415 4,230,579 0.1% Global Brass & Copper Holdings, Inc. 8,810 123,340 0.0% # Global Power Equipment Group, Inc. 38,805 528,912 0.0% #* Goldfield Corp. (The) 44,025 84,528 0.0% # Gorman-Rupp Co. (The) 246,693 7,830,036 0.2% #* GP Strategies Corp. 157,394 5,219,185 0.1% #* GrafTech International, Ltd. 314,334 1,348,493 0.0% # Graham Corp. 70,167 2,350,595 0.1% # Granite Construction, Inc. 180,738 6,671,040 0.1% #* Great Lakes Dredge & Dock Corp. 458,671 3,206,110 0.1% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) # Greenbrier Cos., Inc. (The) 233,628 $ 14,611,095 0.3% # Griffon Corp. 417,031 5,125,311 0.1% H&E Equipment Services, Inc. 339,346 12,688,147 0.3% Hardinge, Inc. 96,286 1,080,329 0.0% #* Hawaiian Holdings, Inc. 491,286 8,518,899 0.2% # Heartland Express, Inc. 17,665 444,098 0.0% Heidrick & Struggles International, Inc. 159,200 3,314,544 0.1% #* Heritage-Crystal Clean, Inc. 18,365 333,141 0.0% #* Hill International, Inc. 318,662 1,236,409 0.0% # Houston Wire & Cable Co. 188,718 2,559,016 0.1% * Hub Group, Inc. Class A 31,413 1,139,978 0.0% * Hudson Global, Inc. 216,487 738,221 0.0% #* Hudson Technologies, Inc. 20,484 91,359 0.0% Hurco Cos., Inc. 54,870 2,114,141 0.0% * Huron Consulting Group, Inc. 179,182 12,472,859 0.3% * Huttig Building Products, Inc. 161,870 587,588 0.0% # Hyster-Yale Materials Handling, Inc. 74,530 5,849,860 0.1% #* ICF International, Inc. 117,294 4,262,464 0.1% #* InnerWorkings, Inc. 156,694 1,422,782 0.0% * Innovative Solutions & Support, Inc. 139,210 388,396 0.0% # Insperity, Inc. 212,034 6,691,793 0.1% Insteel Industries, Inc. 105,232 2,508,731 0.1% * Integrated Electrical Services, Inc. 143,537 1,138,248 0.0% * Intelligent Systems Corp. 4,600 5,589 0.0% # Interface, Inc. 563,915 9,039,557 0.2% # International Shipholding Corp. 58,108 1,164,484 0.0% # Intersections, Inc. 155,119 620,476 0.0% # John Bean Technologies Corp. 243,087 7,285,317 0.1% * JPS Industries, Inc. 24,500 173,950 0.0% Kadant, Inc. 98,109 4,055,826 0.1% # Kaman Corp. 237,993 10,247,979 0.2% # Kelly Services, Inc. Class A 273,991 4,830,461 0.1% Kelly Services, Inc. Class B 635 9,604 0.0% * Key Technology, Inc. 49,705 658,094 0.0% #* KEYW Holding Corp. (The) 1,585 16,088 0.0% # Kforce, Inc. 401,407 9,292,572 0.2% # Kimball International, Inc. Class B 239,152 4,299,953 0.1% Knight Transportation, Inc. 8,998 263,281 0.0% Knoll, Inc. 403,617 8,027,942 0.2% * Korn/Ferry International 426,222 11,904,380 0.2% #* Kratos Defense & Security Solutions, Inc. 317,953 2,216,132 0.0% * Lawson Products, Inc. 82,104 1,977,064 0.0% #* Layne Christensen Co. 144,893 1,043,230 0.0% # LB Foster Co. Class A 102,403 5,538,978 0.1% # Lindsay Corp. 114,725 10,061,383 0.2% #* LMI Aerospace, Inc. 100,967 1,330,745 0.0% LS Starrett Co. (The) Class A 51,344 758,864 0.0% # LSI Industries, Inc. 202,268 1,448,239 0.0% #* Luna Innovations, Inc. 17,526 23,835 0.0% #* Lydall, Inc. 144,614 4,472,911 0.1% * Magnetek, Inc. 30,711 954,191 0.0% #* Manitex International, Inc. 6,450 73,724 0.0% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) # Marten Transport, Ltd. 311,571 $ 6,113,023 0.1% Mastech Holdings, Inc. 14,852 174,511 0.0% Matson, Inc. 189,626 5,402,445 0.1% # Matthews International Corp. Class A 160,030 7,374,182 0.2% # McGrath RentCorp 230,733 8,428,676 0.2% * Meritor, Inc. 960,945 11,041,258 0.2% * Mfri, Inc. 57,134 521,062 0.0% # Miller Industries, Inc. 80,410 1,589,706 0.0% * Mistras Group, Inc. 122,656 2,022,597 0.0% Mueller Water Products, Inc. Class A 1,527,697 15,078,369 0.3% # Multi-Color Corp. 108,918 5,369,657 0.1% #* MYR Group, Inc. 176,442 4,576,905 0.1% # National Presto Industries, Inc. 40,703 2,566,731 0.1% * Navigant Consulting, Inc. 284,869 4,384,134 0.1% #* NCI Building Systems, Inc. 39,552 785,898 0.0% # NL Industries, Inc. 236,934 1,727,249 0.0% NN, Inc. 168,449 4,211,225 0.1% #* Nortek, Inc. 6,754 562,473 0.0% #* Northwest Pipe Co. 88,313 3,159,839 0.1% #* Ocean Power Technologies, Inc. 35,797 35,797 0.0% #* Odyssey Marine Exploration, Inc. 428,042 505,090 0.0% # Omega Flex, Inc. 100,238 2,668,336 0.1% * On Assignment, Inc. 21,144 615,290 0.0% * Orbit International Corp. 2,185 5,463 0.0% * Orbital Sciences Corp. 297,645 7,828,064 0.2% #* Orion Energy Systems, Inc. 43,964 252,793 0.0% #* Orion Marine Group, Inc. 100,401 1,100,395 0.0% #* PAM Transportation Services, Inc. 86,903 3,735,091 0.1% # Park-Ohio Holdings Corp. 100,592 5,342,441 0.1% #* Patrick Industries, Inc. 85,830 3,666,658 0.1% #* Patriot Transportation Holding, Inc. 92,577 3,921,562 0.1% * Paul Mueller Co. 10,813 508,211 0.0% * Pendrell Corp. 126,908 211,936 0.0% #* Performant Financial Corp. 277,957 2,398,769 0.1% * PGT, Inc. 276,939 2,604,611 0.1% * Pike Corp. 194,382 2,320,921 0.0% #* Plug Power, Inc. 881 4,150 0.0% #* Ply Gem Holdings, Inc. 26,759 303,715 0.0% #* PMFG, Inc. 94,438 496,744 0.0% # Powell Industries, Inc. 109,528 4,986,810 0.1% #* PowerSecure International, Inc. 214,282 2,393,530 0.1% Preformed Line Products Co. 51,643 2,943,135 0.1% Primoris Services Corp. 329,652 9,467,605 0.2% # Providence and Worcester Railroad Co. 18,747 333,509 0.0% Quad/Graphics, Inc. 27,878 614,710 0.0% * Quality Distribution, Inc. 184,755 2,394,425 0.1% # Quanex Building Products Corp. 303,731 6,080,695 0.1% # Raven Industries, Inc. 386,061 9,786,646 0.2% RBC Bearings, Inc. 151,385 9,196,639 0.2% * RCM Technologies, Inc. 112,838 850,799 0.0% #* Real Goods Solar, Inc. Class A 1,796 1,446 0.0% #* Republic Airways Holdings, Inc. 319,054 3,994,556 0.1% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Industrials -- (Continued) Resources Connection, Inc. 259,256 $ 4,010,690 0.1% #* Roadrunner Transportation Systems, Inc. 196,840 4,056,872 0.1% #* RPX Corp. 243,219 3,417,227 0.1% #* Rush Enterprises, Inc. Class A 246,379 9,387,040 0.2% #* Rush Enterprises, Inc. Class B 115,888 3,746,659 0.1% * Saia, Inc. 227,908 11,172,050 0.2% * Servotronics, Inc. 24,804 158,994 0.0% # SIFCO Industries, Inc. 45,830 1,559,137 0.0% # Simpson Manufacturing Co., Inc. 1,078 35,660 0.0% # SkyWest, Inc. 354,853 4,087,907 0.1% * SL Industries, Inc. 54,267 2,442,015 0.1% SmartPros, Ltd. 38,973 65,475 0.0% #* SP Plus Corp. 169,280 3,693,690 0.1% * Sparton Corp. 47,951 1,299,472 0.0% #* Standard Register Co. (The) 46,975 240,512 0.0% Standex International Corp. 107,435 9,266,269 0.2% #* Sterling Construction Co., Inc. 114,003 1,005,506 0.0% # Sun Hydraulics Corp. 228,319 9,089,379 0.2% Supreme Industries, Inc. Class A 106,580 708,757 0.0% # TAL International Group, Inc. 28,404 1,225,065 0.0% #* Taser International, Inc. 620,451 11,689,297 0.2% #* Team, Inc. 168,682 7,108,259 0.1% * Tecumseh Products Co. 129,417 477,549 0.0% * Tel-Instrument Electronics Corp. 18,440 97,732 0.0% # Tennant Co. 165,318 12,188,896 0.2% * Thermon Group Holdings, Inc. 92,320 2,249,838 0.0% # Titan International, Inc. 418,689 4,421,356 0.1% #* Titan Machinery, Inc. 153,783 2,116,054 0.0% #* Transcat, Inc. 42,500 446,675 0.0% #* TRC Cos., Inc. 200,030 1,456,218 0.0% #* Trex Co., Inc. 175,227 7,534,761 0.2% #* Trimas Corp. 207,798 6,578,885 0.1% * TrueBlue, Inc. 393,586 9,729,446 0.2% #* Tutor Perini Corp. 240,195 6,727,862 0.1% # Twin Disc, Inc. 92,378 2,403,676 0.1% * Ultralife Corp. 106,484 337,554 0.0% #* Ultrapetrol Bahamas, Ltd. 6,299 18,960 0.0% # United Stationers, Inc. 262 10,944 0.0% Universal Forest Products, Inc. 158,829 7,936,685 0.2% # Universal Truckload Services, Inc. 78,668 2,070,542 0.0% # US Ecology, Inc. 206,429 10,379,250 0.2% #* USA Truck, Inc. 66,021 1,115,755 0.0% #* UTi Worldwide, Inc. 47,549 519,711 0.0% * Veritiv Corp. 229 10,330 0.0% * Versar, Inc. 37,056 120,432 0.0% Viad Corp. 170,494 4,349,302 0.1% * Vicor Corp. 259,789 3,535,728 0.1% * Virco Manufacturing Corp. 133,476 361,720 0.0% * Volt Information Sciences, Inc. 188,964 1,566,512 0.0% # VSE Corp. 33,676 2,029,989 0.0% #* Wabash National Corp. 641,776 6,610,293 0.1% #* Willdan Group, Inc. 15,460 202,835 0.0% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------ Industrials -- (Continued) * Willis Lease Finance Corp. 76,817 $ 1,752,196 0.0% * Xerium Technologies, Inc. 6,903 102,993 0.0% #* XPO Logistics, Inc. 120,984 4,829,681 0.1% -------------------- ------------------ Total Industrials 941,043,178 18.7% -------------------- ------------------ Information Technology -- (14.9%) #* Acorn Energy, Inc. 80,179 84,188 0.0% * Actua Corp. 374,613 7,042,724 0.1% #* Actuate Corp. 519,122 2,227,033 0.1% #* ADDvantage Technologies Group, Inc. 84,703 204,134 0.0% # ADTRAN, Inc. 189,288 4,014,798 0.1% * Advanced Energy Industries, Inc. 438,382 8,671,196 0.2% # Advent Software, Inc. 11,200 387,072 0.0% * Aehr Test Systems 42,505 110,088 0.0% #* Aetrium, Inc. 261 919 0.0% #* Agilysys, Inc. 200,784 2,268,859 0.1% # Alliance Fiber Optic Products, Inc. 23,083 298,002 0.0% #* Alpha & Omega Semiconductor, Ltd. 78,356 726,360 0.0% # American Software, Inc. Class A 222,349 2,147,891 0.0% * Amkor Technology, Inc. 385,318 2,612,456 0.1% * Amtech Systems, Inc. 74,283 782,200 0.0% #* ANADIGICS, Inc. 402,444 285,735 0.0% #* Ascent Solar Technologies, Inc. 7,424 13,066 0.0% #* Astea International, Inc. 11,800 17,582 0.0% Astro-Med, Inc. 58,981 790,935 0.0% #* Audience, Inc. 18,045 67,308 0.0% * Autobytel, Inc. 78,058 721,256 0.0% * AVG Technologies NV 204,140 3,658,189 0.1% #* Aviat Networks, Inc. 333,538 587,027 0.0% * Avid Technology, Inc. 199,073 2,000,684 0.0% Aware, Inc. 143,064 618,036 0.0% #* Axcelis Technologies, Inc. 842,097 1,835,771 0.0% * AXT, Inc. 289,511 683,246 0.0% # Badger Meter, Inc. 150,266 8,553,141 0.2% #* Bazaarvoice, Inc. 24,967 186,004 0.0% # Bel Fuse, Inc. Class A 33,988 863,295 0.0% Bel Fuse, Inc. Class B 92,406 2,614,166 0.1% * Benchmark Electronics, Inc. 15,515 368,016 0.0% Black Box Corp. 143,976 3,166,032 0.1% #* Blackhawk Network Holdings, Inc. 2,942 101,676 0.0% * Blackhawk Network Holdings, Inc. Class B 43,675 1,458,745 0.0% * Blonder Tongue Laboratories 61,201 63,649 0.0% #* Blucora, Inc. 415,745 7,046,878 0.1% (Degree)* Bogen Corp. 33,103 -- 0.0% #* Bottomline Technologies de, Inc. 239,784 6,016,181 0.1% * BroadVision, Inc. 16,737 133,227 0.0% # Brooks Automation, Inc. 509,912 6,287,215 0.1% * Bsquare Corp. 86,633 338,735 0.0% * BTU International, Inc. 74,894 249,397 0.0% #* Cabot Microelectronics Corp. 231,995 11,189,119 0.2% #* CalAmp Corp. 248,226 4,785,797 0.1% #* Calix, Inc. 320,396 3,463,481 0.1% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) #* Carbonite, Inc. 8,293 $ 90,725 0.0% #* Cardtronics, Inc. 18,301 702,575 0.0% * Cartesian, Inc. 24,412 95,451 0.0% #* Cascade Microtech, Inc. 105,585 1,133,983 0.0% # Cass Information Systems, Inc. 57,911 2,753,089 0.1% #* Ceva, Inc. 141,896 2,312,905 0.1% * Checkpoint Systems, Inc. 214,574 2,845,251 0.1% #* ChyronHego Corp. 315 901 0.0% #* CIBER, Inc. 429,389 1,404,102 0.0% #* Cirrus Logic, Inc. 379,506 7,324,466 0.2% #* Clearfield, Inc. 101,538 1,490,578 0.0% * Coherent, Inc. 9,260 603,289 0.0% Cohu, Inc. 162,568 1,658,194 0.0% (Degree)* Commerce One, LLC 4,800 -- 0.0% Communications Systems, Inc. 79,847 944,590 0.0% Computer Task Group, Inc. 179,301 1,577,849 0.0% #* comScore, Inc. 26,879 1,132,681 0.0% Comtech Telecommunications Corp. 139,607 5,314,838 0.1% * Comverse, Inc. 36,160 788,288 0.0% Concurrent Computer Corp. 34,201 242,827 0.0% #* Constant Contact, Inc. 200,637 7,094,524 0.1% #* Cray, Inc. 298,165 10,334,399 0.2% #* Crexendo, Inc. 104,126 295,197 0.0% # CSG Systems International, Inc. 295,763 7,840,677 0.2% CSP, Inc. 49,891 397,631 0.0% CTS Corp. 265,469 4,884,630 0.1% #* CVD Equipment Corp. 31,867 355,317 0.0% * CyberOptics Corp. 56,931 520,919 0.0% Daktronics, Inc. 300,050 3,993,665 0.1% * Data I/O Corp. 77,000 259,490 0.0% #* Datalink Corp. 129,019 1,632,090 0.0% #* Dataram Corp. 4,543 9,858 0.0% #* Datawatch Corp. 18,488 204,292 0.0% #* Demand Media, Inc. 47,786 336,413 0.0% * Dice Holdings, Inc. 508,476 5,069,506 0.1% #* Digi International, Inc. 235,310 1,948,367 0.0% # Digimarc Corp. 54,563 1,581,781 0.0% * Digital River, Inc. 101,216 2,588,093 0.1% * Diodes, Inc. 220,407 5,693,113 0.1% * Dot Hill Systems Corp. 562,345 2,221,263 0.1% * DSP Group, Inc. 236,464 2,291,336 0.1% * DTS, Inc. 172,164 5,127,044 0.1% # EarthLink Holdings Corp. 675,729 2,419,110 0.1% #* Eastman Kodak Co. 400 8,628 0.0% # Ebix, Inc. 244,088 3,600,298 0.1% #* Echelon Corp. 181,846 381,877 0.0% * Edgewater Technology, Inc. 87,868 620,348 0.0% #* Elecsys Corp. 31,697 325,211 0.0% Electro Rent Corp. 237,405 3,618,052 0.1% # Electro Scientific Industries, Inc. 121,051 859,462 0.0% #* Electro-Sensors, Inc. 3,450 13,283 0.0% #* Electronics for Imaging, Inc. 305,091 13,948,761 0.3% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) #* Ellie Mae, Inc. 97,229 $ 3,731,649 0.1% #* eMagin Corp. 52,807 139,939 0.0% * Emcore Corp. 156,874 809,470 0.0% #* Emulex Corp. 486,205 2,751,920 0.1% #* EnerNOC, Inc. 269,919 3,986,704 0.1% * Entegris, Inc. 764,909 10,387,464 0.2% #* Entropic Communications, Inc. 544,365 1,360,913 0.0% * Envestnet, Inc. 123,001 5,463,704 0.1% #* Envivio, Inc. 10,076 15,819 0.0% # EPIQ Systems, Inc. 283,454 4,546,602 0.1% #* ePlus, Inc. 55,397 3,383,095 0.1% * Euronet Worldwide, Inc. 16,038 860,759 0.0% Evolving Systems, Inc. 35,800 390,220 0.0% #* Exar Corp. 425,044 4,059,170 0.1% * ExlService Holdings, Inc. 261,998 7,333,324 0.2% #* Extreme Networks, Inc. 666,754 2,393,647 0.1% #* Fabrinet 185,113 3,370,908 0.1% * FalconStor Software, Inc. 351,211 396,868 0.0% #* FARO Technologies, Inc. 146,670 8,213,520 0.2% * FormFactor, Inc. 222,896 1,776,481 0.0% Forrester Research, Inc. 255,158 10,277,764 0.2% * Frequency Electronics, Inc. 74,860 849,661 0.0% #* Giga-tronics, Inc. 27,752 45,791 0.0% * GigOptix, Inc. 17,808 22,260 0.0% * Global Cash Access Holdings, Inc. 616,078 4,491,209 0.1% # Globalscape, Inc. 10,430 25,866 0.0% * GSE Systems, Inc. 127,249 192,146 0.0% * GSI Group, Inc. 91,065 1,170,185 0.0% * GSI Technology, Inc. 80,053 385,055 0.0% * GTT Communications, Inc. 45,504 590,642 0.0% #* Guidance Software, Inc. 19,577 131,753 0.0% Hackett Group, Inc. (The) 382,948 2,684,465 0.1% * Harmonic, Inc. 877,541 5,853,198 0.1% # Heartland Payment Systems, Inc. 346,861 17,915,371 0.4% #* Higher One Holdings, Inc. 210,493 540,967 0.0% #* Hutchinson Technology, Inc. 231,183 825,323 0.0% * ID Systems, Inc. 55,135 413,513 0.0% * Identiv, Inc. 19,515 182,465 0.0% * IEC Electronics Corp. 39,059 193,342 0.0% * iGATE Corp. 291,554 10,802,076 0.2% #* II-VI, Inc. 82,981 1,119,414 0.0% #* Imation Corp. 190,372 557,790 0.0% #* Immersion Corp. 70,349 592,339 0.0% #* Infinera Corp. 832,336 12,093,842 0.2% * Innodata, Inc. 217,125 573,210 0.0% * Inphi Corp. 88,825 1,375,011 0.0% * Insight Enterprises, Inc. 378,226 8,604,641 0.2% * Integrated Device Technology, Inc. 1,015,649 16,666,800 0.3% # Integrated Silicon Solution, Inc. 224,420 3,047,624 0.1% #* Intellicheck Mobilisa, Inc. 3,776 14,160 0.0% #* Interactive Intelligence Group, Inc. 66,537 3,211,076 0.1% # InterDigital, Inc. 45,061 2,227,365 0.1% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) #* Internap Network Services Corp. 557,251 $ 4,463,581 0.1% * Internet Patents Corp. 12,966 39,676 0.0% * Interphase Corp. 29,534 86,535 0.0% Intersil Corp. Class A 96,769 1,286,060 0.0% * inTEST Corp. 84,141 366,855 0.0% #* Intevac, Inc. 172,020 1,272,948 0.0% * IntraLinks Holdings, Inc. 108,614 938,425 0.0% * IntriCon Corp. 53,872 330,235 0.0% #* Inuvo, Inc. 1,309 1,754 0.0% #* iPass, Inc. 366,725 491,412 0.0% * Iteris, Inc. 52,380 91,141 0.0% #* Itron, Inc. 6,029 234,709 0.0% #* Ixia 518,135 4,989,640 0.1% # IXYS Corp. 311,525 3,635,497 0.1% #* Kemet Corp. 241,994 1,161,571 0.0% * Key Tronic Corp. 23,306 191,575 0.0% * Kofax, Ltd. 70,079 445,002 0.0% #* Kopin Corp. 668,444 2,540,087 0.1% * Kulicke & Soffa Industries, Inc. 602,504 8,688,108 0.2% #* KVH Industries, Inc. 157,667 2,037,058 0.0% * Lantronix, Inc. 45 89 0.0% * Lattice Semiconductor Corp. 1,291,086 8,663,187 0.2% * LGL Group, Inc. (The) 29,250 110,858 0.0% #* Lightpath Technologies, Inc. Class A 8,650 11,764 0.0% #* Limelight Networks, Inc. 667,651 1,629,068 0.0% #* Lionbridge Technologies, Inc. 372,685 1,800,069 0.0% #* LoJack Corp. 174,726 492,727 0.0% #* M/A-COM Technology Solutions Holdings, Inc. 5,225 114,898 0.0% * Magnachip Semiconductor Corp. 322,670 3,591,317 0.1% * Manhattan Associates, Inc. 380,234 15,251,186 0.3% # ManTech International Corp. Class A 80,274 2,260,516 0.1% Marchex, Inc. Class B 148,124 567,315 0.0% #* Mattersight Corp. 80,931 438,646 0.0% #* Mattson Technology, Inc. 52,243 138,966 0.0% #* MaxLinear, Inc. Class A 12,922 91,617 0.0% #* Maxwell Technologies, Inc. 264,498 3,084,047 0.1% #* MeetMe, Inc. 6,965 13,791 0.0% #* Mercury Systems, Inc. 216,413 3,025,454 0.1% # Mesa Laboratories, Inc. 31,800 2,428,566 0.1% Methode Electronics, Inc. 463,289 18,244,321 0.4% Micrel, Inc. 562,946 6,834,164 0.1% #* Millennial Media, Inc. 27,200 55,760 0.0% # MOCON, Inc. 63,175 974,790 0.0% #* ModusLink Global Solutions, Inc. 200,546 701,911 0.0% #* MoneyGram International, Inc. 53,125 456,875 0.0% Monolithic Power Systems, Inc. 264,838 11,703,191 0.2% Monotype Imaging Holdings, Inc. 317,066 9,071,258 0.2% #* Monster Worldwide, Inc. 680,586 2,627,062 0.1% #* MoSys, Inc. 160,141 430,779 0.0% #* Move, Inc. 363,701 7,619,536 0.2% #* MRV Communications, Inc. 60,544 697,467 0.0% # MTS Systems Corp. 167,618 11,064,464 0.2% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) #* Multi-Fineline Electronix, Inc. 172,743 $ 1,753,341 0.0% #* Nanometrics, Inc. 185,770 2,515,326 0.1% * NAPCO Security Technologies, Inc. 307,597 1,316,515 0.0% * NCI, Inc. Class A 49,172 500,571 0.0% * NeoPhotonics Corp. 10,584 34,292 0.0% * NETGEAR, Inc. 97,604 3,322,440 0.1% * Netlist, Inc. 64,383 58,756 0.0% #* Netscout Systems, Inc. 328,700 12,115,882 0.2% * Newport Corp. 349,388 6,250,551 0.1% * Newtek Business Services, Inc. 31,896 449,734 0.0% NIC, Inc. 498,266 9,183,042 0.2% #* Novatel Wireless, Inc. 192,218 547,821 0.0% #* Numerex Corp. Class A 72,177 941,188 0.0% #* Oclaro, Inc. 349,960 549,437 0.0% * OmniVision Technologies, Inc. 451,533 12,092,054 0.2% * Omtool, Ltd. 30,770 73,079 0.0% #* Onvia, Inc. 6,308 27,503 0.0% Oplink Communications, Inc. 125,193 2,610,274 0.1% Optical Cable Corp. 55,836 259,079 0.0% * OSI Systems, Inc. 136,019 9,641,027 0.2% #* Overland Storage, Inc. 8,146 21,261 0.0% * PAR Technology Corp. 131,950 678,091 0.0% # Park Electrochemical Corp. 189,611 4,891,964 0.1% #* Parkervision, Inc. 162,757 213,212 0.0% PC Connection, Inc. 102,863 2,453,283 0.1% PC-Tel, Inc. 183,140 1,410,178 0.0% * PCM, Inc. 115,111 1,111,972 0.0% * PDF Solutions, Inc. 168,563 2,186,262 0.0% # Pegasystems, Inc. 17,074 369,994 0.0% Perceptron, Inc. 58,089 584,956 0.0% * Peregrine Semiconductor Corp. 8,177 101,640 0.0% * Perficient, Inc. 276,145 4,578,484 0.1% * Pericom Semiconductor Corp. 223,214 2,439,729 0.1% #* Pfsweb, Inc. 24,219 285,058 0.0% #* Photronics, Inc. 436,425 3,923,461 0.1% #* Planar Systems, Inc. 174,957 633,344 0.0% #* Plexus Corp. 175,352 7,250,805 0.2% * PMC-Sierra, Inc. 776,743 6,050,828 0.1% # Power Integrations, Inc. 3,200 161,152 0.0% #* PRGX Global, Inc. 137,467 727,200 0.0% #* Procera Networks, Inc. 53,906 403,756 0.0% * Progress Software Corp. 134,139 3,474,200 0.1% QAD, Inc. Class A 126,079 2,711,959 0.1% QAD, Inc. Class B 31,205 577,293 0.0% * QLogic Corp. 295,234 3,486,714 0.1% * Qualstar Corp. 90,434 111,234 0.0% #* Quantum Corp. 167,171 213,979 0.0% #* QuinStreet, Inc. 48,923 198,138 0.0% * Qumu Corp. 85,784 1,283,329 0.0% #* Radisys Corp. 200,806 502,015 0.0% #* Rambus, Inc. 643,231 7,364,995 0.2% #* RealD, Inc. 168,429 1,906,616 0.0% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Information Technology -- (Continued) #* RealNetworks, Inc. 354,446 $ 2,445,677 0.1% #* RealPage, Inc. 4,325 85,938 0.0% Reis, Inc. 85,111 1,991,597 0.0% #* Relm Wireless Corp. 40,346 223,920 0.0% #* Remark Media, Inc. 1,102 5,334 0.0% #* Research Frontiers, Inc. 6,000 29,880 0.0% # RF Industries, Ltd. 56,930 259,032 0.0% #* RF Micro Devices, Inc. 143,500 1,866,935 0.0% Richardson Electronics, Ltd. 130,504 1,306,345 0.0% #* Rightside Group, Ltd. 42,126 398,933 0.0% #* Rofin-Sinar Technologies, Inc. 160,841 3,601,230 0.1% #* Rogers Corp. 121,923 8,335,876 0.2% #* Rosetta Stone, Inc. 115,885 1,109,019 0.0% #* Rubicon Technology, Inc. 107,403 475,795 0.0% #* Rudolph Technologies, Inc. 289,002 2,537,438 0.1% #* Saba Software, Inc. 22,758 304,957 0.0% * Sanmina Corp. 310,993 7,796,595 0.2% * ScanSource, Inc. 232,524 8,877,766 0.2% * Seachange International, Inc. 280,396 1,895,477 0.0% * Selectica, Inc. 26,569 157,687 0.0% #* ServiceSource International, Inc. 11,263 43,025 0.0% #* Sevcon, Inc. 56,400 429,204 0.0% * ShoreTel, Inc. 315,542 2,552,735 0.1% * Sigma Designs, Inc. 254,403 1,015,068 0.0% * Sigmatron International, Inc. 18,200 127,582 0.0% #* Silicon Graphics International Corp. 75,363 654,151 0.0% * Silicon Image, Inc. 667,684 3,578,786 0.1% #* Smith Micro Software, Inc. 23,397 22,929 0.0% * SMTC Corp. 16,231 28,567 0.0% #* Sonic Foundry, Inc. 23,066 213,822 0.0% #* Sonus Networks, Inc. 1,860,195 6,454,877 0.1% #* Spansion, Inc. Class A 416,332 8,568,113 0.2% #* Speed Commerce, Inc. 237,952 706,717 0.0% * Stamps.com, Inc. 111,358 4,109,110 0.1% #* StarTek, Inc. 131,000 985,120 0.0% #* SunEdison, Inc. 1,009,218 19,689,843 0.4% #* SunPower Corp. 24,615 783,742 0.0% #* Super Micro Computer, Inc. 372,279 11,898,037 0.2% * support.com, Inc. 313,284 667,295 0.0% #* Sykes Enterprises, Inc. 313,199 6,746,306 0.1% #* Synaptics, Inc. 87,759 6,005,348 0.1% #* Synchronoss Technologies, Inc. 166,714 8,614,112 0.2% #* Technical Communications Corp. 7,300 30,587 0.0% #* TechTarget, Inc. 14,987 142,976 0.0% * TeleCommunication Systems, Inc. Class A 370,887 1,068,155 0.0% #* Telenav, Inc. 153,817 1,110,559 0.0% * TeleTech Holdings, Inc. 142,315 3,673,150 0.1% # Tessco Technologies, Inc. 64,382 2,044,129 0.0% Tessera Technologies, Inc. 421,657 12,814,156 0.3% TheStreet, Inc. 233,363 534,401 0.0% #* TiVo, Inc. 119,948 1,565,321 0.0% # Transact Technologies, Inc. 90,009 515,752 0.0% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------ Information Technology -- (Continued) #* Travelzoo, Inc. 42,868 $ 561,142 0.0% * Trio Tech International 3,392 13,059 0.0% * TriQuint Semiconductor, Inc. 757,922 16,393,853 0.3% * TSR, Inc. 60,552 198,611 0.0% #* TTM Technologies, Inc. 278,512 1,924,518 0.0% #* Ultra Clean Holdings, Inc. 158,318 1,390,032 0.0% #* Ultratech, Inc. 272,184 5,206,880 0.1% #* Unisys Corp. 544,766 13,967,800 0.3% United Online, Inc. 133,329 1,495,951 0.0% #* Universal Display Corp. 4,733 148,048 0.0% * Universal Security Instruments, Inc. 2,177 13,497 0.0% #* Unwired Planet, Inc. 137,239 212,720 0.0% #* USA Technologies, Inc. 7,207 12,540 0.0% * UTStarcom Holdings Corp. 18,926 47,694 0.0% #* Veeco Instruments, Inc. 195,764 7,045,546 0.1% * Viasystems Group, Inc. 150,028 2,380,944 0.1% # Vicon Industries, Inc. 45,650 72,584 0.0% * Video Display Corp. 85,637 252,629 0.0% #* Virtusa Corp. 252,448 10,345,319 0.2% #* Vishay Precision Group, Inc. 107,071 1,819,136 0.0% #* Vringo, Inc. 65,154 67,109 0.0% Wayside Technology Group, Inc. 30,941 535,279 0.0% * Web.com Group, Inc. 133,296 2,736,567 0.1% * Westell Technologies, Inc. Class A 434,491 582,218 0.0% * Wireless Telecom Group, Inc. 225,386 561,211 0.0% * Xcerra Corp. 425,515 3,612,622 0.1% * XO Group, Inc. 206,725 2,631,609 0.1% #* YuMe, Inc. 2,500 12,475 0.0% #* Zhone Technologies, Inc. 74,478 169,810 0.0% #* Zix Corp. 406,676 1,342,031 0.0% -------------------- ------------------ Total Information Technology 896,570,308 17.8% -------------------- ------------------ Materials -- (4.6%) A Schulman, Inc. 290,950 10,302,539 0.2% #* AEP Industries, Inc. 60,994 2,805,114 0.1% #* AK Steel Holding Corp. 171,700 1,299,769 0.0% #* AM Castle & Co. 144,682 1,063,413 0.0% * American Biltrite, Inc. 868 386,260 0.0% # American Vanguard Corp. 229,229 2,645,303 0.1% # Ampco-Pittsburgh Corp. 85,409 1,861,062 0.0% # Balchem Corp. 144,618 9,356,785 0.2% * Boise Cascade Co. 264,831 9,549,806 0.2% * Calgon Carbon Corp. 516,251 10,856,759 0.2% * Century Aluminum Co. 535,169 15,669,748 0.3% # Chase Corp. 76,372 2,739,464 0.1% * Clearwater Paper Corp. 193,931 12,479,460 0.3% #* Codexis, Inc. 46,517 119,084 0.0% #* Coeur Mining, Inc. 24,799 91,756 0.0% #* Contango ORE, Inc. 1,592 12,338 0.0% * Continental Materials Corp. 14,518 235,046 0.0% * Core Molding Technologies, Inc. 59,433 790,459 0.0% # Deltic Timber Corp. 77,057 5,015,640 0.1% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Materials -- (Continued) Detrex Corp. 10,200 $ 336,600 0.0% #* Ferro Corp. 839,781 11,017,927 0.2% Flamemaster Corp. 189 1,640 0.0% #* Flotek Industries, Inc. 502,484 11,135,045 0.2% Friedman Industries, Inc. 60,300 460,692 0.0% FutureFuel Corp. 202,967 2,703,520 0.1% #* General Moly, Inc. 418,681 276,329 0.0% Globe Specialty Metals, Inc. 264,426 4,973,853 0.1% # Hawkins, Inc. 101,706 3,916,698 0.1% # Haynes International, Inc. 84,619 3,933,937 0.1% #* Headwaters, Inc. 447,923 5,688,622 0.1% # Hecla Mining Co. 196,448 428,257 0.0% #* Horsehead Holding Corp. 357,333 5,613,701 0.1% Innophos Holdings, Inc. 175,311 9,992,727 0.2% # Innospec, Inc. 183,156 7,394,008 0.2% # Kaiser Aluminum Corp. 112,530 7,826,461 0.2% # KMG Chemicals, Inc. 59,564 1,054,283 0.0% Koppers Holdings, Inc. 166,771 6,584,119 0.1% * Kraton Performance Polymers, Inc. 182,841 3,271,025 0.1% * Landec Corp. 252,517 3,179,189 0.1% * LSB Industries, Inc. 175,910 6,601,902 0.1% # Materion Corp. 127,921 5,046,483 0.1% #* McEwen Mining, Inc. 249,572 309,469 0.0% #* Mercer International, Inc. 232,705 2,927,429 0.1% #* Mines Management, Inc. 33,421 17,379 0.0% # Myers Industries, Inc. 289,890 4,330,957 0.1% # Neenah Paper, Inc. 126,850 7,739,118 0.2% Noranda Aluminum Holding Corp. 272,272 1,200,720 0.0% * Northern Technologies International Corp. 38,414 719,110 0.0% # Olympic Steel, Inc. 78,436 1,578,132 0.0% # OM Group, Inc. 155,757 4,054,355 0.1% #* OMNOVA Solutions, Inc. 264,218 1,857,453 0.0% #* Penford Corp. 111,720 2,105,922 0.0% PH Glatfelter Co. 397,509 10,029,152 0.2% # Quaker Chemical Corp. 111,265 9,132,631 0.2% # Rayonier Advanced Materials, Inc. 2,783 79,399 0.0% #* Rentech, Inc. 488,654 776,960 0.0% #* Resolute Forest Products, Inc. 25,546 474,134 0.0% #* RevettMining Co., Inc. 2,968 2,582 0.0% * RTI International Metals, Inc. 207,357 4,883,257 0.1% # Schnitzer Steel Industries, Inc. Class A 128,828 3,033,899 0.1% # Schweitzer-Mauduit International, Inc. 57,746 2,486,543 0.1% #* Senomyx, Inc. 99,632 789,085 0.0% #* Solitario Exploration & Royalty Corp. 2,939 2,968 0.0% Stepan Co. 166,203 7,359,469 0.1% #* Stillwater Mining Co. 31,090 408,212 0.0% * SunCoke Energy, Inc. 30,743 734,758 0.0% # Synalloy Corp. 57,753 932,711 0.0% * Taminco Corp. 3,585 92,816 0.0% * Trecora Resources 126,664 1,665,632 0.0% Tredegar Corp. 329,738 6,271,617 0.1% #* UFP Technologies, Inc. 11,800 259,836 0.0% U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Materials -- (Continued) # United States Lime & Minerals, Inc. 61,245 $ 4,293,887 0.1% #* Universal Stainless & Alloy Products, Inc. 54,274 1,395,385 0.0% # US Silica Holdings, Inc. 2,439 109,511 0.0% #* Verso Paper Corp. 4,775 13,848 0.0% Vulcan International Corp. 8,251 342,375 0.0% # Wausau Paper Corp. 406,184 4,017,160 0.1% * Webco Industries, Inc. 3,750 317,156 0.0% # Zep, Inc. 128,913 2,070,343 0.0% -------------------- ------------------ Total Materials 277,532,193 5.5% -------------------- ------------------ Other -- (0.0%) (Degree)* Allen Organ Co. Escrow Shares 4,700 -- 0.0% (Degree)* Big 4 Ranch, Inc. 35,000 -- 0.0% (Degree)* Brooklyn Federal Bancorp, Inc. Escrow Shares 37,150 -- 0.0% (Degree)* Concord Camera Corp. Escrow Shares 49,560 -- 0.0% (Degree)* DLB Oil & Gas, Inc. Escrow Shares 7,600 -- 0.0% (Degree)* EquiMed, Inc 132 -- 0.0% (Degree)* First Commerce Bancorp Escrow Shares 50,014 -- 0.0% (Degree)* FRD Acquisition Co. Escrow Shares 294,513 -- 0.0% (Degree)#* Gerber Scientific, Inc. Escrow Shares 214,642 -- 0.0% (Degree)* Petrocorp, Inc. Escrow Shares 37,100 -- 0.0% -------------------- ------------------ Total Other -- 0.0% -------------------- ------------------ Real Estate Investment Trusts -- (0.0%) #* CareTrust REIT, Inc. 154,325 2,396,667 0.1% -------------------- ------------------ Telecommunication Services -- (1.0%) #* 8x8, Inc. 34,948 274,691 0.0% #* Alaska Communications Systems Group, Inc. 38,055 51,374 0.0% #* Alteva 35,460 251,766 0.0% # Atlantic Tele-Network, Inc. 91,127 6,122,823 0.1% #* Boingo Wireless, Inc. 49,525 347,170 0.0% #* Cincinnati Bell, Inc. 1,091,786 4,006,855 0.1% # Cogent Communications Holdings, Inc. 12,218 414,679 0.0% # Consolidated Communications Holdings, Inc. 389,549 10,089,319 0.2% * General Communication, Inc. Class A 451,355 5,294,394 0.1% #* Hawaiian Telcom Holdco, Inc. 6,759 181,817 0.0% * HC2 Holdings, Inc. 87,300 462,690 0.0% IDT Corp. Class B 204,786 3,374,873 0.1% Inteliquent, Inc. 343,306 5,777,840 0.1% #* Iridium Communications, Inc. 286,734 2,723,973 0.1% # Lumos Networks Corp. 130,329 2,241,659 0.1% # NTELOS Holdings Corp. 95,209 959,707 0.0% #* ORBCOMM, Inc. 248,680 1,571,658 0.0% #* Premiere Global Services, Inc. 603,877 6,322,592 0.1% # Shenandoah Telecommunications Co. 98,637 2,918,669 0.1% Spok Holdings, Inc. 132,345 2,149,283 0.1% * Straight Path Communications, Inc. Class B 85,246 1,841,314 0.0% #* Vonage Holdings Corp. 1,622,751 5,647,173 0.1% -------------------- ------------------ Total Telecommunication Services 63,026,319 1.3% -------------------- ------------------ U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------- Utilities -- (1.5%) American States Water Co. 369,652 $ 13,226,148 0.3% # Artesian Resources Corp. Class A 21,573 480,431 0.0% #* Cadiz, Inc. 5,888 58,644 0.0% California Water Service Group 399,855 10,408,226 0.2% # Chesapeake Utilities Corp. 118,488 5,738,374 0.1% # Connecticut Water Service, Inc. 83,481 3,102,989 0.1% # Consolidated Water Co., Ltd. 36,099 432,827 0.0% # Delta Natural Gas Co., Inc. 40,000 828,800 0.0% El Paso Electric Co. 33,021 1,249,515 0.0% Empire District Electric Co. (The) 379,154 10,783,140 0.2% Gas Natural, Inc. 24,922 282,865 0.0% #* Genie Energy, Ltd. Class B 200,893 1,456,474 0.0% # MGE Energy, Inc. 294,935 13,115,759 0.3% # Middlesex Water Co. 116,467 2,626,331 0.1% # Northwest Natural Gas Co. 107,229 5,032,257 0.1% # Ormat Technologies, Inc. 52,375 1,516,256 0.0% # Otter Tail Corp. 264,660 8,204,460 0.2% RGC Resources, Inc. 9,396 190,175 0.0% # SJW Corp. 176,960 5,655,642 0.1% # Unitil Corp. 98,163 3,419,999 0.1% # York Water Co. 68,182 1,498,640 0.0% -------------------- ------------------ Total Utilities 89,307,952 1.8% -------------------- ------------------ TOTAL COMMON STOCKS 5,009,778,671 99.7% -------------------- ------------------ PREFERRED STOCKS -- (0.0%) Other -- (0.0%) (Degree)* Enron TOPRS Escrow Shares 37,101 -- 0.0% -------------------- ------------------ RIGHTS/WARRANTS -- (0.0%) (Degree)* Capital Bank Corp. Contingent Value Rights 12,543 -- 0.0% (Degree)* Leap Wireless International, Inc. Contingent Value Rights 104,000 262,080 0.0% (Degree)* LGL Group, Inc. (The) Warrants 08/06/18 141,430 2,814 0.0% (Degree)#* Magnum Hunter Resources Corp. Warrants 04/15/16 82,112 -- 0.0% (Degree)#* PhotoMedex, Inc. Contingent Value Warrants 12/13/14 957 -- 0.0% (Degree)* Tejon Ranch Co. Warrants 08/31/16 2,266 4,759 0.0% -------------------- ------------------ TOTAL RIGHTS/WARRANTS 269,653 0.0% -------------------- ------------------ TEMPORARY CASH INVESTMENTS -- (0.3%) State Street Institutional Liquid Reserves, 0.077% 16,819,521 16,819,521 0.3% -------------------- ------------------ SECURITIES LENDING COLLATERAL -- (16.6%) (S)@ DFA Short Term Investment Fund 86,521,072 1,001,048,800 19.9% -------------------- ------------------ TOTAL INVESTMENTS -- (100.0%) (Cost $4,367,248,025) $ 6,027,916,645 119.9% ==================== ================== U.S. MICRO CAP PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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 $ 933,050,787 $ 1 -- $ 933,050,788 Consumer Staples 200,784,386 -- -- 200,784,386 Energy 221,805,032 155,080 -- 221,960,112 Financials 879,666,150 72,326 -- 879,738,476 Health Care 504,182,595 185,697 -- 504,368,292 Industrials 941,039,023 4,155 -- 941,043,178 Information Technology 896,570,308 -- -- 896,570,308 Materials 277,532,193 -- -- 277,532,193 Other -- -- -- -- Real Estate Investment Trusts 2,396,667 -- -- 2,396,667 Telecommunication Services 63,026,319 -- -- 63,026,319 Utilities 89,307,952 -- -- 89,307,952 Preferred Stocks Other -- -- -- -- Rights/Warrants -- 269,653 -- 269,653 Temporary Cash Investments 16,819,521 -- -- 16,819,521 Securities Lending Collateral -- 1,001,048,800 -- 1,001,048,800 -------------------- -------------------- -------------------- ---------------------- TOTAL $ 5,026,180,933 $ 1,001,735,712 -- $ 6,027,916,645 ==================== ==================== ==================== ====================== DFA REAL ESTATE SECURITIES PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2014 PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ---------------------- COMMON STOCKS -- (90.0%) Real Estate Investment Trusts -- (90.0%) # Acadia Realty Trust 630,283 $ 19,664,830 0.3% # Agree Realty Corp. 128,935 3,946,700 0.1% # Alexander's, Inc. 48,381 21,384,402 0.3% Alexandria Real Estate Equities, Inc. 791,699 65,711,017 1.0% # American Assets Trust, Inc. 170,847 6,550,274 0.1% # American Campus Communities, Inc. 1,153,808 45,310,040 0.7% # American Realty Capital Properties, Inc. 5,321,381 47,200,649 0.7% AmREIT, Inc. 10,321 254,309 0.0% Apartment Investment & Management Co. Class A 1,624,363 58,135,952 0.9% # Ashford Hospitality Prime, Inc. 149,219 2,585,965 0.0% # Ashford Hospitality Trust, Inc. 922,683 10,426,318 0.2% # Associated Estates Realty Corp. 612,059 11,953,512 0.2% # AvalonBay Communities, Inc. 1,431,583 223,097,895 3.4% # BioMed Realty Trust, Inc. 2,139,472 46,469,332 0.7% Boston Properties, Inc. 1,673,636 212,133,363 3.2% Brandywine Realty Trust 1,921,578 29,649,949 0.4% Camden Property Trust 947,053 72,610,554 1.1% # Campus Crest Communities, Inc. 718,401 4,554,662 0.1% # CBL & Associates Properties, Inc. 1,839,671 35,192,906 0.5% Cedar Realty Trust, Inc. 709,169 4,879,083 0.1% # Chatham Lodging Trust 43,035 1,102,557 0.0% # Chesapeake Lodging Trust 373,448 12,338,722 0.2% # CoreSite Realty Corp. 25,474 943,047 0.0% # Corporate Office Properties Trust 969,456 26,504,927 0.4% Cousins Properties, Inc. 2,215,049 28,817,788 0.4% CubeSmart 1,589,488 33,458,722 0.5% CyrusOne, Inc. 112,279 3,066,339 0.0% # DCT Industrial Trust, Inc. 3,627,193 31,085,044 0.5% # DDR Corp. 3,339,854 60,584,952 0.9% DiamondRock Hospitality Co. 2,147,854 30,821,705 0.5% # Digital Realty Trust, Inc. 1,494,005 103,071,405 1.6% Douglas Emmett, Inc. 1,494,511 42,040,594 0.6% Duke Realty Corp. 3,643,400 69,078,864 1.0% # DuPont Fabros Technology, Inc. 726,988 22,514,818 0.3% # EastGroup Properties, Inc. 337,436 23,235,843 0.4% # Education Realty Trust, Inc. 1,490,350 16,781,341 0.3% # EPR Properties 597,214 33,503,705 0.5% Equity Commonwealth REIT 856,678 22,881,869 0.3% Equity Lifestyle Properties, Inc. 859,740 42,213,234 0.6% Equity One, Inc. 731,202 17,548,848 0.3% # Equity Residential 3,771,256 262,328,567 4.0% # Essex Property Trust, Inc. 685,289 138,263,909 2.1% # Excel Trust, Inc. 461,827 6,003,751 0.1% # Extra Space Storage, Inc. 1,217,347 70,800,902 1.1% # Federal Realty Investment Trust 728,119 95,966,084 1.5% FelCor Lodging Trust, Inc. 1,229,058 13,187,792 0.2% First Industrial Realty Trust, Inc. 1,196,910 23,375,652 0.4% # First Potomac Realty Trust 626,548 7,831,850 0.1% # Franklin Street Properties Corp. 927,224 11,117,416 0.2% Gaming and Leisure Properties, Inc. 960,746 30,023,313 0.5% General Growth Properties, Inc. 5,802,509 150,343,008 2.3% DFA REAL ESTATE SECURITIES PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ---------------------- Real Estate Investment Trusts -- (Continued) # Getty Realty Corp. 211,407 $ 3,934,284 0.1% # Gladstone Commercial Corp. 104,964 1,899,848 0.0% # Gladstone Land Corp. 5,074 56,880 0.0% # Glimcher Realty Trust 1,619,891 22,241,103 0.3% # Government Properties Income Trust 743,163 16,958,980 0.3% HCP, Inc. 5,063,898 222,659,595 3.4% Health Care REIT, Inc. 3,459,746 246,022,538 3.7% Healthcare Realty Trust, Inc. 1,061,619 28,101,055 0.4% # Healthcare Trust of America, Inc. Class A 892,869 11,464,438 0.2% Hersha Hospitality Trust 2,126,638 15,503,191 0.2% # Highwoods Properties, Inc. 997,646 42,769,084 0.6% #* HMG/Courtland Properties, Inc. 2,500 34,975 0.0% # Home Properties, Inc. 621,337 39,958,182 0.6% Hospitality Properties Trust 1,637,839 48,496,413 0.7% Host Hotels & Resorts, Inc. 8,279,024 192,984,049 2.9% Hudson Pacific Properties, Inc. 287,470 7,850,806 0.1% # Inland Real Estate Corp. 967,341 10,263,488 0.2% Investors Real Estate Trust 789,782 6,634,169 0.1% # Kilroy Realty Corp. 911,462 61,742,436 0.9% # Kimco Realty Corp. 4,516,480 112,686,176 1.7% Kite Realty Group Trust 508,030 13,152,897 0.2% # LaSalle Hotel Properties 1,141,367 44,753,000 0.7% # Lexington Realty Trust 2,251,198 24,673,130 0.4% Liberty Property Trust 1,633,481 56,796,134 0.9% # LTC Properties, Inc. 356,966 14,971,154 0.2% # Macerich Co. (The) 1,539,214 108,514,587 1.6% Mack-Cali Realty Corp. 926,271 17,349,056 0.3% # Medical Properties Trust, Inc. 1,897,202 25,593,255 0.4% # Mid-America Apartment Communities, Inc. 819,830 57,929,188 0.9% # Monmouth Real Estate Investment Corp. Class A 365,491 4,093,499 0.1% # National Health Investors, Inc. 240,447 15,847,862 0.2% # National Retail Properties, Inc. 1,384,837 52,789,986 0.8% # Omega Healthcare Investors, Inc. 1,382,991 52,774,937 0.8% # One Liberty Properties, Inc. 121,766 2,787,224 0.0% Parkway Properties, Inc. 684,116 13,716,526 0.2% # Pebblebrook Hotel Trust 422,999 18,019,757 0.3% Pennsylvania REIT 771,755 16,538,710 0.2% # Piedmont Office Realty Trust, Inc. Class A 1,712,522 33,308,553 0.5% Post Properties, Inc. 592,620 33,151,163 0.5% Prologis, Inc. 5,512,059 229,577,257 3.5% PS Business Parks, Inc. 217,215 18,293,847 0.3% Public Storage 1,571,862 289,757,041 4.4% # Ramco-Gershenson Properties Trust 809,833 14,155,881 0.2% # Realty Income Corp. 2,420,743 111,426,800 1.7% # Regency Centers Corp. 1,007,704 61,167,633 0.9% # Retail Opportunity Investments Corp. 865,915 14,149,051 0.2% Retail Properties of America, Inc. Class A 1,635,741 25,664,776 0.4% RLJ Lodging Trust 1,128,833 36,370,999 0.5% #* Roberts Realty Investors, Inc. 12,174 8,522 0.0% # Rouse Properties, Inc. 168,193 3,062,795 0.0% # Ryman Hospitality Properties, Inc. 428,216 21,132,460 0.3% Sabra Health Care REIT, Inc. 568,040 16,228,903 0.2% DFA REAL ESTATE SECURITIES PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- --------------------- Real Estate Investment Trusts -- (Continued) # Saul Centers, Inc. 141,146 $ 7,755,973 0.1% # Select Income REIT 198,868 4,874,255 0.1% # Senior Housing Properties Trust 2,260,850 51,072,602 0.8% Simon Property Group, Inc. 3,371,761 604,253,289 9.1% # SL Green Realty Corp. 1,058,736 122,495,755 1.9% Sotherly Hotels, Inc. 81,381 638,027 0.0% Sovran Self Storage, Inc. 362,055 30,807,260 0.5% Spirit Realty Capital, Inc. 2,190,940 26,072,186 0.4% # STAG Industrial, Inc. 154,338 3,765,847 0.1% Starwood Waypoint Residential Trust 102,282 2,677,743 0.0% #* Strategic Hotels & Resorts, Inc. 2,468,551 31,720,880 0.5% # Summit Hotel Properties, Inc. 591,718 6,887,598 0.1% # Sun Communities, Inc. 415,164 24,067,057 0.4% Sunstone Hotel Investors, Inc. 2,212,797 33,877,922 0.5% Tanger Factory Outlet Centers, Inc. 1,069,184 38,244,712 0.6% Taubman Centers, Inc. 695,179 52,868,363 0.8% # Terreno Realty Corp. 27,412 577,297 0.0% # Trade Street Residential, Inc. 6,089 42,014 0.0% # UDR, Inc. 2,771,443 83,780,722 1.3% # UMH Properties, Inc. 139,584 1,409,798 0.0% # Universal Health Realty Income Trust 120,046 5,816,229 0.1% # Urstadt Biddle Properties, Inc. 76,760 1,410,849 0.0% # Urstadt Biddle Properties, Inc. Class A 217,927 4,713,761 0.1% # Ventas, Inc. 3,262,593 223,520,246 3.4% Vornado Realty Trust 1,850,466 202,589,018 3.1% # Washington Prime Group, Inc. 1,612,645 28,430,931 0.4% # Washington REIT 717,473 20,275,787 0.3% # Weingarten Realty Investors 1,269,483 46,018,759 0.7% # Whitestone REIT 97,321 1,459,815 0.0% # Winthrop Realty Trust 5,299 82,823 0.0% # WP Carey, Inc. 432,009 29,255,649 0.4% -------------------- -------------------- TOTAL COMMON STOCKS 6,584,029,720 99.7% -------------------- -------------------- TEMPORARY CASH INVESTMENTS -- (0.4%) State Street Institutional Liquid Reserves, 0.077% 27,425,306 27,425,306 0.4% -------------------- -------------------- SECURITIES LENDING COLLATERAL -- (9.6%) (S)@ DFA Short Term Investment Fund 60,664,727 701,890,889 10.6% -------------------- -------------------- TOTAL INVESTMENTS -- (100.0%) (Cost $5,122,699,751) $ 7,313,345,915 110.7% ==================== ==================== DFA REAL ESTATE SECURITIES PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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 $ 6,584,029,720 -- -- $ 6,584,029,720 Temporary Cash Investments 27,425,306 -- -- 27,425,306 Securities Lending Collateral -- $ 701,890,889 -- 701,890,889 --------------------- -------------------- -------------------- --------------------- TOTAL $ 6,611,455,026 $ 701,890,889 -- $ 7,313,345,915 ===================== ==================== ==================== ===================== LARGE CAP INTERNATIONAL PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2014 PERCENTAGE SHARES VALUE++ OF NET ASSETS** --------- ----------- --------------- COMMON STOCKS -- (94.2%) AUSTRALIA -- (6.6%) Adelaide Brighton, Ltd. 118,521 $ 353,434 0.0% AGL Energy, Ltd. 108,142 1,296,356 0.1% # ALS, Ltd. 112,885 559,050 0.0% * Alumina, Ltd. 611,794 884,220 0.0% Amcor, Ltd. 272,806 2,833,590 0.1% Amcor, Ltd. Sponsored ADR 1,068 44,311 0.0% AMP, Ltd. 1,223,704 6,310,669 0.2% Ansell, Ltd. 28,035 491,752 0.0% # APA Group 200,855 1,396,410 0.1% * Aquarius Platinum, Ltd. 215,481 57,343 0.0% # Aristocrat Leisure, Ltd. 81,618 464,014 0.0% Asciano, Ltd. 253,358 1,401,439 0.1% ASX, Ltd. 51,832 1,644,490 0.1% Aurizon Holdings, Ltd. 343,918 1,426,473 0.1% # AusNet Services 371,932 449,629 0.0% Australia & New Zealand Banking Group, Ltd. 526,856 15,589,969 0.5% Bank of Queensland, Ltd. 100,209 1,114,002 0.0% Beach Energy, Ltd. 143,697 148,640 0.0% Bendigo & Adelaide Bank Ltd 123,714 1,358,617 0.1% BHP Billiton, Ltd. 571,441 17,095,701 0.6% # BHP Billiton, Ltd. Sponsored ADR 65,589 3,898,610 0.1% * BlueScope Steel, Ltd. 142,412 663,919 0.0% Boral, Ltd. 212,927 935,211 0.0% Brambles, Ltd. 343,295 2,887,398 0.1% Caltex Australia, Ltd. 43,214 1,190,250 0.0% # carsales.com, Ltd. 29,538 278,731 0.0% Challenger, Ltd. 84,253 518,212 0.0% Coca-Cola Amatil, Ltd. 125,169 1,010,034 0.0% # Cochlear, Ltd. 11,472 743,523 0.0% Commonwealth Bank of Australia 314,221 22,344,073 0.7% Computershare, Ltd. 99,734 1,082,380 0.0% Crown Resorts, Ltd. 72,744 933,060 0.0% # CSL, Ltd. 106,096 7,490,684 0.2% DUET Group 237,006 513,012 0.0% Echo Entertainment Group, Ltd. 175,552 589,450 0.0% Fairfax Media, Ltd. 420,361 302,143 0.0% # Flight Centre Travel Group, Ltd. 13,937 517,129 0.0% # Fortescue Metals Group, Ltd. 517,173 1,596,170 0.1% # Harvey Norman Holdings, Ltd. 178,817 601,321 0.0% # Iluka Resources, Ltd. 101,138 649,277 0.0% Incitec Pivot, Ltd. 417,405 1,071,101 0.0% Insurance Australia Group, Ltd. 694,002 4,013,075 0.1% James Hardie Industries P.L.C. 99,425 1,060,531 0.0% James Hardie Industries P.L.C. Sponsored ADR 500 26,665 0.0% Leighton Holdings, Ltd. 26,566 517,210 0.0% Lend Lease Group 144,335 2,013,043 0.1% Macquarie Group, Ltd. 95,609 5,167,114 0.2% # Metcash, Ltd. 156,632 391,200 0.0% National Australia Bank, Ltd. 454,011 14,045,173 0.5% # New Hope Corp., Ltd. 25,495 50,458 0.0% #* Newcrest Mining, Ltd. 197,639 1,620,955 0.1% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------- ------------ --------------- AUSTRALIA -- (Continued) Oil Search, Ltd. 184,832 $ 1,417,236 0.1% Orica, Ltd. 115,867 2,115,064 0.1% Origin Energy, Ltd. 309,199 3,884,380 0.1% Orora, Ltd. 215,725 330,062 0.0% # OZ Minerals, Ltd. 90,750 311,846 0.0% PanAust, Ltd. 76,201 115,550 0.0% # Platinum Asset Management, Ltd. 41,235 239,364 0.0% Primary Health Care, Ltd. 139,478 571,586 0.0% * Qantas Airways, Ltd. 304,058 454,297 0.0% QBE Insurance Group, Ltd. 340,379 3,457,537 0.1% Ramsay Health Care, Ltd. 29,254 1,352,364 0.1% REA Group, Ltd. 12,767 511,205 0.0% Reece Australia, Ltd. 7,839 229,781 0.0% Rio Tinto, Ltd. 88,716 4,737,283 0.2% Santos, Ltd. 277,664 3,181,821 0.1% Seek, Ltd. 55,981 821,514 0.0% Seven Group Holdings, Ltd. 18,118 109,297 0.0% # Sims Metal Management, Ltd. 40,715 406,472 0.0% Sonic Healthcare, Ltd. 78,040 1,291,464 0.0% Spark Infrastructure Group 214,229 360,116 0.0% Suncorp Group, Ltd. 338,497 4,404,599 0.1% # Sydney Airport 192,507 748,415 0.0% Tabcorp Holdings, Ltd. 263,708 947,283 0.0% # Tatts Group, Ltd. 373,215 1,142,443 0.0% Telstra Corp., Ltd. 935,200 4,653,698 0.2% # Toll Holdings, Ltd. 205,596 1,030,079 0.0% TPG Telecom, Ltd. 56,141 363,511 0.0% Transurban Group 314,621 2,253,285 0.1% Treasury Wine Estates, Ltd. 149,076 608,671 0.0% # Washington H Soul Pattinson & Co., Ltd. 13,478 168,729 0.0% # Wesfarmers, Ltd. 205,089 7,981,575 0.3% # Westpac Banking Corp. 453,022 13,905,175 0.5% # Westpac Banking Corp. Sponsored ADR 86,981 2,663,358 0.1% Woodside Petroleum, Ltd. 213,184 7,572,368 0.3% # Woolworths, Ltd. 272,158 8,637,085 0.3% WorleyParsons, Ltd. 56,232 671,171 0.0% ------------ --- TOTAL AUSTRALIA 217,290,905 6.9% ------------ --- AUSTRIA -- (0.2%) Andritz AG 12,287 593,760 0.0% BUWOG AG 7,724 142,797 0.0% Erste Group Bank AG 58,876 1,502,370 0.1% * IMMOFINANZ AG 154,486 467,693 0.0% OMV AG 61,561 1,935,049 0.1% Raiffeisen Bank International AG 43,644 934,497 0.0% Strabag SE 630 13,635 0.0% Telekom Austria AG ADR 2,400 36,240 0.0% # Verbund AG 15,098 305,526 0.0% Vienna Insurance Group AG Wiener Versicherung Gruppe 6,221 299,484 0.0% Voestalpine AG 29,873 1,196,650 0.0% ------------ --- TOTAL AUSTRIA 7,427,701 0.2% ------------ --- LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------- ----------- --------------- BELGIUM -- (1.2%) Ackermans & van Haaren NV 220 $ 27,436 0.0% Ageas 55,738 1,863,192 0.1% Anheuser-Busch InBev NV 144,598 16,035,104 0.5% # Anheuser-Busch InBev NV Sponsored ADR 26,194 2,907,010 0.1% Belgacom SA 59,168 2,234,689 0.1% # Colruyt SA 28,931 1,317,668 0.0% Delhaize Group SA 17,737 1,212,765 0.0% Delhaize Group SA Sponsored ADR 49,084 836,391 0.0% * KBC Groep NV 71,483 3,839,762 0.1% Solvay SA 32,796 4,477,299 0.2% * Telenet Group Holding NV 11,290 638,809 0.0% UCB SA 25,671 2,070,270 0.1% Umicore SA 29,230 1,147,233 0.0% ----------- --- TOTAL BELGIUM 38,607,628 1.2% ----------- --- CANADA -- (9.3%) Agnico Eagle Mines, Ltd.(008474108) 21,705 510,068 0.0% Agnico Eagle Mines, Ltd.(2009823) 38,232 900,975 0.0% Agrium, Inc.(008916108) 15,094 1,476,495 0.1% Agrium, Inc.(2213538) 34,000 3,326,543 0.1% Aimia, Inc. 36,747 529,825 0.0% Alimentation Couche-Tard, Inc. Class B 94,958 3,222,700 0.1% # AltaGas, Ltd. 22,210 916,344 0.0% #* Amaya Gaming Group, Inc. 9,600 291,735 0.0% # ARC Resources, Ltd. 76,715 1,809,223 0.1% Atco, Ltd. Class I 16,283 661,693 0.0% #* Athabasca Oil Corp. 50,600 163,870 0.0% AuRico Gold, Inc. 4,468 14,311 0.0% Bank of Montreal(063671101) 29,657 2,153,098 0.1% # Bank of Montreal(2076009) 104,389 7,569,951 0.3% Bank of Nova Scotia (The)(064149107) 32,463 1,989,982 0.1% Bank of Nova Scotia (The)(2076281) 196,436 12,029,646 0.4% Barrick Gold Corp.(067901108) 46,703 554,365 0.0% Barrick Gold Corp.(2024644) 249,938 2,967,189 0.1% # Baytex Energy Corp. 39,891 1,218,975 0.0% BCE, Inc.(05534B760) 13,912 618,667 0.0% # BCE, Inc.(B188TH2) 46,262 2,054,401 0.1% #* BlackBerry, Ltd.(09228F103) 43,832 460,236 0.0% #* BlackBerry, Ltd.(BCBHZ31) 88,001 924,477 0.0% # Bombardier, Inc. Class A 15,935 53,303 0.0% # Bombardier, Inc. Class B 368,440 1,212,823 0.0% # Bonavista Energy Corp. 56,859 534,259 0.0% Brookfield Asset Management, Inc. Class A 100,230 4,906,339 0.2% * Brookfield Residential Properties, Inc. 5,760 133,920 0.0% CAE, Inc. 77,338 990,871 0.0% Cameco Corp.(13321L108) 25,923 450,542 0.0% Cameco Corp.(2166160) 74,660 1,296,390 0.1% Canadian Imperial Bank of Commerce(136069101) 9,630 879,701 0.0% Canadian Imperial Bank of Commerce(2170525) 70,649 6,449,648 0.2% Canadian National Railway Co.(136375102) 24,432 1,724,411 0.1% Canadian National Railway Co.(2180632) 152,460 10,748,832 0.4% Canadian Natural Resources, Ltd.(136385101) 83,091 2,898,214 0.1% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------- ---------- --------------- CANADA -- (Continued) Canadian Natural Resources, Ltd.(2171573) 220,772 $7,704,150 0.3% Canadian Oil Sands, Ltd. 147,945 2,318,183 0.1% # Canadian Pacific Railway, Ltd.(13645T100) 3,505 727,918 0.0% Canadian Pacific Railway, Ltd.(2793115) 32,566 6,773,832 0.2% # Canadian Tire Corp., Ltd. Class A 26,056 2,856,785 0.1% Canadian Utilities, Ltd. Class A 20,840 720,400 0.0% Canadian Western Bank 22,314 747,397 0.0% * Canfor Corp. 24,000 558,768 0.0% * Catamaran Corp.(B3N9ZT8) 16,416 782,551 0.0% * Catamaran Corp.(B8J4N87) 29,400 1,400,807 0.1% CCL Industries, Inc. Class B 6,596 666,828 0.0% Cenovus Energy, Inc.(15135U109) 23,353 578,220 0.0% Cenovus Energy, Inc.(B57FG04) 139,938 3,462,908 0.1% * CGI Group, Inc. Class A(39945C109) 28,614 982,891 0.0% #* CGI Group, Inc. Class A(2159740) 37,171 1,276,027 0.0% CI Financial Corp. 47,915 1,393,172 0.1% # Cineplex, Inc. 2,533 95,427 0.0% Cogeco Cable, Inc. 4,163 227,016 0.0% Constellation Software, Inc. 4,343 1,223,462 0.0% # Crescent Point Energy Corp. 111,017 3,669,210 0.1% Dollarama, Inc. 12,200 1,071,864 0.0% E-L Financial Corp., Ltd. 157 96,118 0.0% Eldorado Gold Corp.(284902103) 27,183 148,963 0.0% Eldorado Gold Corp.(2307873) 185,043 1,011,370 0.0% # Emera, Inc. 12,122 407,526 0.0% Empire Co., Ltd. 15,781 1,091,739 0.0% # Enbridge, Inc.(2466149) 127,437 6,030,092 0.2% Enbridge, Inc.(29250N105) 29,037 1,375,192 0.1% Encana Corp.(2793193) 109,553 2,041,270 0.1% Encana Corp.(292505104) 69,264 1,290,388 0.1% # Enerplus Corp.(B584T89) 59,866 857,315 0.0% Enerplus Corp.(292766102) 27,199 388,946 0.0% Ensign Energy Services, Inc. 34,131 385,206 0.0% Fairfax Financial Holdings, Ltd. 6,156 2,812,572 0.1% Finning International, Inc. 53,686 1,386,152 0.1% First Capital Realty, Inc. 24,315 397,178 0.0% First Quantum Minerals, Ltd. 170,732 2,575,254 0.1% # Fortis, Inc. 36,868 1,201,183 0.0% Franco-Nevada Corp. 13,832 647,510 0.0% # Genworth MI Canada, Inc. 9,000 314,627 0.0% George Weston, Ltd. 18,126 1,480,894 0.1% # Gibson Energy, Inc. 35,333 1,027,652 0.0% Gildan Activewear, Inc.(375916103) 3,000 178,890 0.0% Gildan Activewear, Inc.(2254645) 18,100 1,078,243 0.0% Goldcorp, Inc.(380956409) 22,904 430,137 0.0% Goldcorp, Inc.(2676302) 145,746 2,735,041 0.1% Great-West Lifeco, Inc. 54,000 1,513,083 0.1% Hudson's Bay Co. 9,585 166,348 0.0% # Husky Energy, Inc. 87,950 2,123,348 0.1% # IGM Financial, Inc. 21,900 875,961 0.0% # Imperial Oil, Ltd.(453038408) 13,492 645,997 0.0% Imperial Oil, Ltd.(2454241) 48,227 2,320,527 0.1% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------- ----------- --------------- CANADA -- (Continued) # Industrial Alliance Insurance & Financial Services, Inc. 28,822 $ 1,161,524 0.0% Intact Financial Corp. 26,700 1,790,266 0.1% # Inter Pipeline, Ltd. 41,700 1,313,843 0.1% Jean Coutu Group PJC, Inc. (The) Class A 16,500 378,297 0.0% Keyera Corp. 18,500 1,471,727 0.1% * Kinross Gold Corp.(496902404) 22,897 49,229 0.0% * Kinross Gold Corp.(B03Z841) 304,213 650,506 0.0% Linamar Corp. 18,096 924,348 0.0% # Loblaw Cos., Ltd. 41,560 2,165,314 0.1% * Lundin Mining Corp. 164,804 735,517 0.0% MacDonald Dettwiler & Associates, Ltd. 5,700 434,637 0.0% Magna International, Inc.(559222401) 10,503 1,036,751 0.0% Magna International, Inc.(2554475) 40,160 3,963,798 0.1% # Manitoba Telecom Services, Inc. 4,500 118,624 0.0% Manulife Financial Corp.(56501R106) 63,866 1,211,538 0.0% Manulife Financial Corp.(2492519) 322,943 6,129,054 0.2% * MEG Energy Corp. 42,405 1,023,394 0.0% # Methanex Corp. 25,881 1,538,094 0.1% Metro, Inc. 26,424 1,856,866 0.1% # Mullen Group, Ltd. 10,500 204,028 0.0% National Bank of Canada 101,249 4,732,529 0.2% * New Gold, Inc. 137,438 498,755 0.0% Onex Corp. 21,404 1,207,649 0.0% Open Text Corp.(683715106) 5,718 315,176 0.0% Open Text Corp.(2260824) 18,200 1,005,235 0.0% * Osisko Gold Royalties, Ltd. 7,800 97,446 0.0% Pacific Rubiales Energy Corp. 168,144 2,536,221 0.1% # Pan American Silver Corp.(697900108) 12,528 115,633 0.0% Pan American Silver Corp.(2669272) 33,400 308,796 0.0% * Paramount Resources, Ltd. Class A 8,900 372,725 0.0% * Pembina Pipeline Corp.(B4PPQG5) 9,034 374,369 0.0% # Pembina Pipeline Corp.(B4PT2P8) 45,132 1,872,482 0.1% # Pengrowth Energy Corp. 129,078 521,099 0.0% Penn West Petroleum, Ltd.(707887105) 18,200 82,264 0.0% # Penn West Petroleum, Ltd.(B63FY34) 95,909 433,997 0.0% # Peyto Exploration & Development Corp. 30,405 858,155 0.0% Potash Corp. of Saskatchewan, Inc.(73755L107) 31,604 1,079,909 0.0% Potash Corp. of Saskatchewan, Inc.(2696980) 136,400 4,655,790 0.2% Precision Drilling Corp. 94,060 783,659 0.0% Progressive Waste Solutions, Ltd.(74339G101) 3,627 106,017 0.0% Progressive Waste Solutions, Ltd.(B3DJGB7) 31,442 918,389 0.0% Quebecor, Inc. Class B 22,000 564,713 0.0% # Ritchie Bros Auctioneers, Inc. 16,700 408,221 0.0% Rogers Communications, Inc. Class B(775109200) 17,684 665,803 0.0% # Rogers Communications, Inc. Class B(2169051) 64,300 2,417,847 0.1% Royal Bank of Canada(780087102) 18,396 1,309,243 0.1% # Royal Bank of Canada(2754383) 225,667 16,020,245 0.5% Saputo, Inc. 59,532 1,689,218 0.1% * SEMAFO, Inc. 48,000 117,120 0.0% Shaw Communications, Inc. Class B(82028K200) 56,617 1,453,925 0.1% # Shaw Communications, Inc. Class B(2801836) 57,710 1,481,857 0.1% ShawCor, Ltd. 11,300 497,800 0.0% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------- ------------ --------------- CANADA -- (Continued) Silver Wheaton Corp.(828336107) 6,218 $ 108,007 0.0% Silver Wheaton Corp.(B058ZX6) 54,277 943,424 0.0% SNC-Lavalin Group, Inc. 29,200 1,258,109 0.0% Stantec, Inc.(85472N109) 2,900 184,034 0.0% Stantec, Inc.(2854238) 3,200 202,752 0.0% Sun Life Financial, Inc.(866796105) 26,327 937,241 0.0% Sun Life Financial, Inc.(2566124) 101,431 3,607,976 0.1% Suncor Energy, Inc.(867224107) 76,441 2,716,713 0.1% Suncor Energy, Inc.(B3NB1P2) 296,232 10,518,792 0.3% Talisman Energy, Inc.(87425E103) 284,218 1,813,311 0.1% Talisman Energy, Inc.(2068299) 212,140 1,353,344 0.1% Teck Resources, Ltd. Class B(878742204) 43,589 687,834 0.0% # Teck Resources, Ltd. Class B(2879327) 106,334 1,680,323 0.1% # TELUS Corp. 39,380 1,411,258 0.1% Thomson Reuters Corp.(884903105) 18,394 684,625 0.0% # Thomson Reuters Corp.(2889371) 59,250 2,204,296 0.1% Tim Hortons, Inc.(88706M103) 3,807 308,443 0.0% Tim Hortons, Inc.(B4R2V25) 25,200 2,041,847 0.1% TMX Group, Ltd. 2,200 105,818 0.0% Toronto-Dominion Bank (The)(891160509) 27,618 1,360,463 0.1% # Toronto-Dominion Bank (The)(2897222) 301,119 14,820,169 0.5% * Tourmaline Oil Corp. 25,046 898,460 0.0% TransAlta Corp.(89346D107) 15,840 153,806 0.0% # TransAlta Corp.(2901628) 84,100 817,831 0.0% TransCanada Corp.(89353D107) 14,710 725,056 0.0% TransCanada Corp.(2665184) 116,088 5,721,741 0.2% Trican Well Service, Ltd. 25,700 230,309 0.0% # Trilogy Energy Corp. 10,639 165,761 0.0% * Turquoise Hill Resources, Ltd.(900435108) 68,462 229,348 0.0% * Turquoise Hill Resources, Ltd.(B7WJ1F5) 137,337 460,613 0.0% * Valeant Pharmaceuticals International, Inc.(91911K102) 13,001 1,729,653 0.1% * Valeant Pharmaceuticals International, Inc.(B3XSX46) 56,882 7,560,378 0.3% # Veresen, Inc. 37,288 585,267 0.0% * Vermilion Energy, Inc.(923725105) 2,640 148,474 0.0% # Vermilion Energy, Inc.(B607XS1) 20,827 1,181,931 0.0% West Fraser Timber Co., Ltd. 20,384 1,069,434 0.0% Westjet Airlines, Ltd. 2,400 67,908 0.0% Westshore Terminals Investment Corp. 6,600 201,153 0.0% # Whitecap Resources, Inc. 38,940 504,090 0.0% Yamana Gold, Inc.(98462Y100) 41,099 163,574 0.0% # Yamana Gold, Inc.(2219279) 155,692 620,253 0.0% ------------ --- TOTAL CANADA 306,760,021 9.8% ------------ --- CHINA -- (0.0%) Hopewell Highway Infrastructure, Ltd. 7,225 3,494 0.0% ------------ --- DENMARK -- (1.5%) AP Moeller - Maersk A.S. Class A 659 1,499,194 0.0% AP Moeller - Maersk A.S. Class B 1,434 3,346,348 0.1% Carlsberg A.S. Class B 30,461 2,686,618 0.1% Chr Hansen Holding A.S. 24,968 1,005,808 0.0% Coloplast A.S. Class B 22,103 1,926,525 0.1% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------- ----------- --------------- DENMARK -- (Continued) Danske Bank A.S. 139,218 $ 3,822,966 0.1% DSV A.S. 57,650 1,725,532 0.1% GN Store Nord A.S. 39,910 928,604 0.0% H Lundbeck A.S. 13,909 294,945 0.0% * Jyske Bank A.S. 18,789 1,013,079 0.0% Novo Nordisk A.S. Class B 330,597 14,943,883 0.5% Novo Nordisk A.S. Sponsored ADR 116,555 5,265,955 0.2% Novozymes A.S. Class B 60,183 2,786,875 0.1% Pandora A.S. 28,594 2,410,802 0.1% Rockwool International A.S. Class B 1,012 147,327 0.0% TDC A.S. 271,192 2,071,109 0.1% * Topdanmark A.S. 21,510 684,661 0.0% Tryg A.S. 5,268 570,076 0.0% * Vestas Wind Systems A.S. 45,586 1,521,431 0.1% * William Demant Holding A.S. 4,846 367,286 0.0% ----------- --- TOTAL DENMARK 49,019,024 1.6% ----------- --- FINLAND -- (0.9%) Elisa Oyj 27,937 767,438 0.0% Fortum Oyj 197,898 4,589,608 0.2% Kesko Oyj Class B 16,039 608,288 0.0% # Kone Oyj Class B 66,403 2,859,840 0.1% Metso Oyj 29,981 979,544 0.0% # Neste Oil Oyj 54,862 1,183,891 0.0% Nokia Oyj 566,548 4,734,015 0.2% Nokia Oyj Sponsored ADR 184,400 1,524,988 0.1% Nokian Renkaat Oyj 27,548 778,244 0.0% Orion Oyj Class A 3,180 106,848 0.0% Orion Oyj Class B 19,609 666,933 0.0% Sampo Oyj Class A 84,216 4,035,412 0.1% Stora Enso Oyj Class R 240,622 1,987,082 0.1% Stora Enso Oyj Sponsored ADR 12,000 97,920 0.0% UPM-Kymmene Oyj 157,023 2,490,780 0.1% UPM-Kymmene Oyj Sponsored ADR 13,000 205,920 0.0% Valmet OYJ 27,047 286,207 0.0% Wartsila Oyj Abp 43,690 2,025,809 0.1% ----------- --- TOTAL FINLAND 29,928,767 1.0% ----------- --- FRANCE -- (8.1%) Accor SA 40,300 1,693,095 0.1% Aeroports de Paris 5,523 653,725 0.0% Air Liquide SA 71,013 8,572,390 0.3% Airbus Group NV 132,245 7,895,167 0.3% * Alcatel-Lucent 469,735 1,435,171 0.1% Alcatel-Lucent Sponsored ADR 128,100 384,300 0.0% * Alstom SA 46,699 1,629,947 0.1% # Arkema SA 20,521 1,266,596 0.0% AtoS 27,980 1,933,649 0.1% AXA SA 311,949 7,205,561 0.2% AXA SA Sponsored ADR 48,048 1,115,194 0.0% BioMerieux 1,600 168,740 0.0% BNP Paribas SA 203,287 12,774,973 0.4% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------- ----------- --------------- FRANCE -- (Continued) # Bollore SA(4572709) 1,195 $ 566,551 0.0% * Bollore SA(BQR9N80) 5 2,287 0.0% Bouygues SA 92,693 3,204,765 0.1% Bureau Veritas SA 48,497 1,199,521 0.0% Cap Gemini SA 37,081 2,439,786 0.1% Carrefour SA 181,245 5,312,347 0.2% Casino Guichard Perrachon SA 26,406 2,707,495 0.1% #* CGG SA Sponsored ADR 15,607 91,457 0.0% # Christian Dior SA 11,233 1,987,702 0.1% Cie de St-Gobain 132,579 5,698,888 0.2% Cie Generale des Etablissements Michelin 63,059 5,477,110 0.2% CNP Assurances 58,352 1,090,900 0.0% Credit Agricole SA 224,651 3,324,447 0.1% Danone SA 111,826 7,641,355 0.2% Danone SA Sponsored ADR 12,058 164,833 0.0% Dassault Systemes 22,340 1,416,600 0.0% Edenred 52,674 1,460,242 0.1% Eiffage SA 16,374 870,490 0.0% Electricite de France SA 67,202 1,984,367 0.1% * Eramet 435 40,417 0.0% Essilor International SA 41,327 4,563,408 0.2% Euler Hermes Group 2,795 273,796 0.0% Eutelsat Communications SA 34,414 1,115,662 0.0% Faurecia 7,146 231,474 0.0% GDF Suez(B3B9KQ2) 11,445 14 0.0% GDF Suez(B0C2CQ3) 405,920 9,855,705 0.3% Groupe Eurotunnel SA 114,615 1,448,647 0.1% * Groupe Fnac 1,746 73,522 0.0% Iliad SA 4,457 974,503 0.0% Imerys SA 12,925 927,470 0.0% # Ingenico 9,652 961,564 0.0% Ipsen SA 2,070 101,750 0.0% JCDecaux SA 18,625 618,179 0.0% Kering 18,495 3,569,253 0.1% L'Oreal SA 44,850 7,038,588 0.2% Lafarge SA 52,907 3,671,762 0.1% Lafarge SA Sponsored ADR 1,800 31,410 0.0% Lagardere SCA 26,506 645,059 0.0% Legrand SA 53,198 2,863,182 0.1% LVMH Moet Hennessy Louis Vuitton SA 54,589 9,266,153 0.3% Natixis SA 266,974 1,837,709 0.1% Orange SA 462,290 7,359,828 0.2% Orange SA Sponsored ADR 46,387 737,089 0.0% Pernod Ricard SA 39,241 4,470,013 0.1% * Peugeot SA 188,031 2,234,658 0.1% Publicis Groupe SA 35,202 2,441,534 0.1% # Publicis Groupe SA ADR 4,537 78,626 0.0% # Remy Cointreau SA 3,979 283,175 0.0% Renault SA 64,124 4,769,945 0.2% Rexel SA 60,129 1,010,711 0.0% Safran SA 54,524 3,453,196 0.1% Sanofi 182,023 16,516,773 0.5% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------- ------------ --------------- FRANCE -- (Continued) Sanofi ADR 36,868 $ 1,704,776 0.1% Schneider Electric SE(4834108) 100,220 7,895,943 0.3% Schneider Electric SE(B11BPS1) 935 73,587 0.0% SCOR SE 41,542 1,272,948 0.0% SEB SA 3,563 291,558 0.0% SES SA 69,104 2,385,585 0.1% Societe BIC SA 5,723 713,918 0.0% Societe Generale SA 150,386 7,247,256 0.2% Sodexo() 16,625 1,598,980 0.1% Sodexo(7062713) 18,969 1,829,996 0.1% STMicroelectronics NV 182,024 1,215,872 0.0% Suez Environnement Co. 71,410 1,203,064 0.0% Technip SA 24,711 1,785,379 0.1% Technip SA ADR 14,400 261,648 0.0% Thales SA 26,476 1,314,798 0.0% Total SA 344,554 20,570,996 0.7% Total SA Sponsored ADR 157,489 9,432,016 0.3% Valeo SA 17,062 1,913,173 0.1% Vallourec SA 37,051 1,354,106 0.0% Veolia Environnement SA 89,378 1,484,462 0.1% # Veolia Environnement SA ADR 17,086 277,989 0.0% Vicat 1,981 135,479 0.0% Vinci SA 116,359 6,641,567 0.2% Vivendi SA 247,477 6,045,675 0.2% Zodiac Aerospace 35,814 1,092,784 0.0% ------------ --- TOTAL FRANCE 266,577,981 8.5% ------------ --- GERMANY -- (6.9%) Adidas AG 39,942 2,910,413 0.1% Allianz SE 62,165 9,885,610 0.3% Allianz SE ADR 250,286 3,984,553 0.1% Axel Springer SE 10,034 551,976 0.0% BASF SE 181,171 16,008,296 0.5% BASF SE Sponsored ADR 8,200 723,404 0.0% Bayer AG 148,280 21,207,267 0.7% Bayer AG Sponsored ADR 33,435 4,748,773 0.2% Bayerische Motoren Werke AG 82,514 8,848,612 0.3% Beiersdorf AG 18,004 1,459,744 0.1% Bilfinger SE 8,723 564,115 0.0% Brenntag AG 33,594 1,630,034 0.1% Celesio AG 17,682 583,361 0.0% * Commerzbank AG 254,603 3,849,720 0.1% Continental AG 23,911 4,709,648 0.2% Daimler AG 228,081 17,783,242 0.6% # Deutsche Bank AG(D18190898) 179,270 5,614,736 0.2% Deutsche Bank AG(5750355) 43,898 1,372,751 0.0% Deutsche Boerse AG 33,348 2,282,445 0.1% # Deutsche Lufthansa AG 106,930 1,583,919 0.1% Deutsche Post AG 210,266 6,621,233 0.2% Deutsche Telekom AG 651,915 9,826,521 0.3% Deutsche Telekom AG Sponsored ADR 95,900 1,436,582 0.1% Deutsche Wohnen AG 65,609 1,480,904 0.1% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** --------- ------------ --------------- GERMANY -- (Continued) E.ON SE 328,427 $ 5,662,112 0.2% # E.ON SE Sponsored ADR 53,950 925,243 0.0% Fielmann AG 5,420 353,685 0.0% Fraport AG Frankfurt Airport Services Worldwide 8,987 556,841 0.0% Fresenius Medical Care AG & Co. KGaA 44,121 3,238,380 0.1% # Fresenius Medical Care AG & Co. KGaA ADR 14,200 519,862 0.0% Fresenius SE & Co. KGaA 139,650 7,185,832 0.2% Fuchs Petrolub SE 6,553 241,161 0.0% GEA Group AG 40,070 1,848,334 0.1% Hannover Rueck SE 16,962 1,415,773 0.0% HeidelbergCement AG 38,097 2,600,753 0.1% Henkel AG & Co. KGaA 25,587 2,328,899 0.1% Hochtief AG 10,911 807,400 0.0% Hugo Boss AG 5,909 785,061 0.0% Infineon Technologies AG 268,107 2,612,090 0.1% # K+S AG 42,199 1,182,616 0.0% Lanxess AG 31,166 1,623,323 0.1% Linde AG 36,255 6,691,049 0.2% MAN SE 7,842 893,691 0.0% Merck KGaA 40,496 3,665,873 0.1% * Metro AG 47,126 1,502,304 0.1% MTU Aero Engines AG 9,659 847,144 0.0% Muenchener Rueckversicherungs-Gesellschaft AG 36,954 7,275,791 0.2% * Osram Licht AG 19,058 669,470 0.0% Puma SE 790 165,991 0.0% * QIAGEN NV 51,277 1,205,083 0.0% Rhoen Klinikum AG 14,963 445,522 0.0% RWE AG 194,239 6,891,943 0.2% SAP SE 139,819 9,526,626 0.3% # SAP SE Sponsored ADR 21,919 1,493,341 0.1% #* SGL Carbon SE 819 12,695 0.0% Siemens AG 130,441 14,712,887 0.5% * Sky Deutschland AG 77,105 650,957 0.0% Software AG 943 23,749 0.0% # Suedzucker AG 17,838 248,377 0.0% Symrise AG 21,569 1,216,045 0.0% * Talanx AG 11,574 373,493 0.0% Telefonica Deutschland Holding AG 119,000 585,585 0.0% * ThyssenKrupp AG 102,814 2,477,980 0.1% United Internet AG 28,463 1,116,273 0.0% Volkswagen AG 7,777 1,658,587 0.1% # Wacker Chemie AG 5,048 611,712 0.0% ------------ --- TOTAL GERMANY 228,517,392 7.3% ------------ --- HONG KONG -- (2.8%) AIA Group, Ltd. 2,277,800 12,711,091 0.4% # ASM Pacific Technology, Ltd. 49,600 546,584 0.0% Bank of East Asia, Ltd. 346,401 1,442,134 0.1% # BOC Hong Kong Holdings, Ltd. 725,000 2,418,135 0.1% #* Brightoil Petroleum Holdings, Ltd. 333,000 105,591 0.0% Cathay Pacific Airways, Ltd. 433,000 813,274 0.0% Cheung Kong Holdings, Ltd. 281,600 5,009,940 0.2% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** --------- ---------- --------------- HONG KONG -- (Continued) Cheung Kong Infrastructure Holdings, Ltd. 140,000 $1,022,605 0.0% # Chow Tai Fook Jewellery Group, Ltd. 237,600 330,503 0.0% CLP Holdings, Ltd. 347,400 2,989,261 0.1% Esprit Holdings, Ltd. 486,920 609,952 0.0% * FIH Mobile, Ltd. 627,000 334,036 0.0% First Pacific Co., Ltd. 898,400 966,085 0.0% Galaxy Entertainment Group, Ltd. 470,000 3,216,845 0.1% * Global Brands Group Holding, Ltd. 1,312,000 289,074 0.0% Hang Lung Group, Ltd. 228,000 1,147,082 0.0% Hang Lung Properties, Ltd. 576,000 1,798,692 0.1% Hang Seng Bank, Ltd. 146,600 2,484,036 0.1% Henderson Land Development Co., Ltd. 299,406 2,022,719 0.1% Hong Kong & China Gas Co., Ltd. 1,215,151 2,837,604 0.1% Hong Kong Exchanges and Clearing, Ltd. 241,916 5,371,309 0.2% Hongkong & Shanghai Hotels (The) 94,525 149,687 0.0% Hopewell Holdings, Ltd. 144,500 513,733 0.0% Hutchison Whampoa, Ltd. 413,500 5,254,078 0.2% Hysan Development Co., Ltd. 141,638 648,101 0.0% Johnson Electric Holdings, Ltd. 111,125 376,192 0.0% Kerry Logistics Network, Ltd. 69,696 113,632 0.0% Kerry Properties, Ltd. 289,893 996,324 0.0% # L'Occitane International SA 112,750 266,228 0.0% Li & Fung, Ltd. 1,312,000 1,600,676 0.1% Lifestyle International Holdings, Ltd. 80,500 152,105 0.0% Melco Crown Entertainment, Ltd. 1,500 13,518 0.0% Melco Crown Entertainment, Ltd. ADR 34,736 942,735 0.0% # Melco International Development, Ltd. 179,000 486,483 0.0% MGM China Holdings, Ltd. 194,000 623,670 0.0% MTR Corp., Ltd. 326,436 1,331,037 0.1% New World Development Co., Ltd. 2,152,587 2,711,373 0.1% NWS Holdings, Ltd. 318,432 592,800 0.0% Orient Overseas International, Ltd. 63,000 357,301 0.0% PCCW, Ltd. 1,313,712 836,843 0.0% Power Assets Holdings, Ltd. 237,707 2,298,212 0.1% # Prada SpA 106,600 656,244 0.0% Samsonite International SA 361,500 1,201,165 0.0% Sands China, Ltd. 508,800 3,176,725 0.1% Shangri-La Asia, Ltd. 355,655 517,330 0.0% Sino Land Co., Ltd. 785,568 1,304,524 0.1% SJM Holdings, Ltd. 397,000 837,047 0.0% Sun Hung Kai Properties, Ltd. 328,108 4,908,437 0.2% Swire Pacific, Ltd. Class A 178,000 2,337,042 0.1% Swire Pacific, Ltd. Class B 150,000 364,079 0.0% Swire Properties, Ltd. 195,600 626,763 0.0% Techtronic Industries Co., Ltd. 329,500 1,033,660 0.0% Television Broadcasts, Ltd. 52,000 283,700 0.0% # VTech Holdings, Ltd. 24,800 309,923 0.0% Wharf Holdings, Ltd. (The) 311,609 2,310,732 0.1% Wheelock & Co., Ltd. 264,000 1,275,918 0.1% # Wynn Macau, Ltd. 328,000 1,183,638 0.0% Xinyi Glass Holdings, Ltd. 396,000 232,953 0.0% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** --------- ----------- --------------- HONG KONG -- (Continued) Yue Yuen Industrial Holdings, Ltd. 244,500 $ 823,939 0.0% ----------- --- TOTAL HONG KONG 92,115,099 2.9% ----------- --- IRELAND -- (0.3%) * Bank of Ireland 4,652,578 1,831,509 0.1% #* Bank of Ireland Sponsored ADR 17,922 286,573 0.0% CRH P.L.C. 70,049 1,556,088 0.1% # CRH P.L.C. Sponsored ADR 94,840 2,125,364 0.1% Dragon Oil P.L.C. 43,868 379,176 0.0% Glanbia P.L.C. 2,435 34,397 0.0% Kerry Group P.L.C. Class A(4519579) 18,224 1,237,896 0.0% Kerry Group P.L.C. Class A(0490656) 18,318 1,247,488 0.0% Paddy Power P.L.C. 1,180 86,124 0.0% * Ryanair Holdings P.L.C. 33,520 319,687 0.0% Smurfit Kappa Group P.L.C. 87,017 1,797,922 0.1% ----------- --- TOTAL IRELAND 10,902,224 0.4% ----------- --- ISRAEL -- (0.5%) Azrieli Group 7,492 242,163 0.0% Bank Hapoalim BM 301,278 1,550,936 0.1% * Bank Leumi Le-Israel BM 394,145 1,408,516 0.1% Bezeq The Israeli Telecommunication Corp., Ltd. 488,622 835,116 0.0% Cellcom Israel, Ltd. 2,105 21,634 0.0% Delek Group, Ltd. 1,037 358,439 0.0% Elbit Systems, Ltd.(6308913) 7,453 453,329 0.0% Elbit Systems, Ltd.(M3760D101) 193 11,700 0.0% First International Bank Of Israel, Ltd. 2,402 33,827 0.0% Israel Chemicals, Ltd. 90,160 607,847 0.0% * Israel Discount Bank, Ltd. Class A 232,291 374,643 0.0% Migdal Insurance & Financial Holding, Ltd. 85,601 116,873 0.0% * Mizrahi Tefahot Bank, Ltd. 32,493 359,698 0.0% NICE Systems, Ltd. Sponsored ADR 11,926 485,150 0.0% Osem Investments, Ltd. 9,419 181,179 0.0% * Partner Communications Co., Ltd. 8,183 54,747 0.0% * Partner Communications Co., Ltd. ADR 3,525 22,948 0.0% Paz Oil Co., Ltd. 85 12,013 0.0% Strauss Group, Ltd. 6,801 110,564 0.0% Teva Pharmaceutical Industries, Ltd. 6,037 340,773 0.0% Teva Pharmaceutical Industries, Ltd. Sponsored ADR 157,023 8,867,089 0.3% ----------- --- TOTAL ISRAEL 16,449,184 0.5% ----------- --- ITALY -- (2.0%) Assicurazioni Generali SpA 222,046 4,556,480 0.1% Atlantia SpA 89,414 2,111,708 0.1% #* Banca Carige SpA 534,438 44,854 0.0% #* Banca Monte dei Paschi di Siena SpA 503,756 385,429 0.0% * Banca Popolare dell'Emilia Romagna SC 7,289 55,620 0.0% #* Banco Popolare SC 98,647 1,432,974 0.1% CNH Industrial NV 205,150 1,674,102 0.1% Davide Campari-Milano SpA 51,808 372,581 0.0% Enel Green Power SpA 435,451 1,070,458 0.0% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** --------- ----------- --------------- ITALY -- (Continued) Enel SpA 1,243,206 $ 6,352,682 0.2% Eni SpA 426,069 9,077,355 0.3% Eni SpA Sponsored ADR 69,229 2,942,233 0.1% * Finmeccanica SpA 102,014 921,840 0.0% GTECH SpA 9,353 217,990 0.0% Intesa Sanpaolo SpA 2,264,418 6,656,842 0.2% Intesa Sanpaolo SpA Sponsored ADR 9,000 158,040 0.0% Luxottica Group SpA 35,109 1,790,829 0.1% Luxottica Group SpA Sponsored ADR 875 44,450 0.0% * Mediaset SpA 139,616 467,700 0.0% * Mediobanca SpA 170,811 1,507,603 0.1% # Mediolanum SpA 62,837 423,653 0.0% Parmalat SpA 80,329 241,494 0.0% Pirelli & C. SpA 58,843 789,069 0.0% Prysmian SpA 33,580 581,981 0.0% * Saipem SpA 57,784 904,605 0.0% Salvatore Ferragamo SpA 9,142 216,301 0.0% Snam SpA 335,386 1,813,594 0.1% #* Telecom Italia SpA 3,355,984 3,803,274 0.1% * Telecom Italia SpA Sponsored ADR 80,065 904,735 0.0% Tenaris SA 21,859 432,253 0.0% Tenaris SA ADR 37,841 1,500,017 0.1% Terna Rete Elettrica Nazionale SpA 366,068 1,845,602 0.1% # Tod's SpA 2,308 212,938 0.0% UniCredit SpA 917,593 6,645,870 0.2% Unione di Banche Italiane SCPA 248,727 1,953,376 0.1% UnipolSai SpA 243,533 654,796 0.0% ----------- --- TOTAL ITALY 64,765,328 2.1% ----------- --- JAPAN -- (18.6%) 77 Bank, Ltd. (The) 81,000 452,207 0.0% ABC-Mart, Inc. 6,600 380,560 0.0% # Advantest Corp. 18,340 213,856 0.0% Advantest Corp. ADR 10,000 117,100 0.0% # Aeon Co., Ltd. 361,400 3,575,994 0.1% Aeon Mall Co., Ltd. 9,548 175,261 0.0% Air Water, Inc. 44,000 701,373 0.0% Aisin Seiki Co., Ltd. 74,100 2,468,179 0.1% Ajinomoto Co., Inc. 118,000 2,227,916 0.1% Alfresa Holdings Corp. 34,800 441,609 0.0% Alps Electric Co., Ltd. 63,000 1,072,334 0.0% Amada Co., Ltd. 97,000 847,152 0.0% # ANA Holdings, Inc. 257,000 595,895 0.0% Anritsu Corp. 24,000 185,816 0.0% Aoyama Trading Co., Ltd. 6,300 149,845 0.0% Aozora Bank, Ltd. 212,000 745,160 0.0% Asahi Glass Co., Ltd. 302,000 1,571,814 0.1% Asahi Group Holdings, Ltd. 76,000 2,357,433 0.1% Asahi Kasei Corp. 393,000 3,225,041 0.1% Asics Corp. 37,300 873,451 0.0% Astellas Pharma, Inc. 405,275 6,290,066 0.2% Autobacs Seven Co., Ltd. 9,900 145,231 0.0% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------- ---------- --------------- JAPAN -- (Continued) Awa Bank, Ltd. (The) 29,000 $ 173,902 0.0% Azbil Corp. 10,400 250,801 0.0% Bandai Namco Holdings, Inc. 43,400 1,077,090 0.1% Bank of Kyoto, Ltd. (The) 105,000 909,882 0.0% Bank of Yokohama, Ltd. (The) 301,000 1,739,551 0.1% Benesse Holdings, Inc. 16,900 533,267 0.0% Bridgestone Corp. 143,700 4,802,128 0.2% Brother Industries, Ltd. 57,400 1,021,981 0.0% Calbee, Inc. 14,700 514,858 0.0% Calsonic Kansei Corp. 43,000 238,067 0.0% Canon Marketing Japan, Inc. 14,800 302,574 0.0% Canon, Inc. 160,100 4,911,893 0.2% # Canon, Inc. Sponsored ADR 68,804 2,134,300 0.1% # Casio Computer Co., Ltd. 46,400 739,873 0.0% Central Japan Railway Co. 25,600 3,818,212 0.1% Century Tokyo Leasing Corp. 16,700 437,322 0.0% Chiba Bank, Ltd. (The) 213,000 1,512,940 0.1% # Chiyoda Corp. 28,000 288,451 0.0% * Chubu Electric Power Co., Inc. 118,200 1,418,350 0.1% Chugai Pharmaceutical Co., Ltd. 43,400 1,356,803 0.1% Chugoku Bank, Ltd. (The) 45,000 665,125 0.0% Chugoku Electric Power Co., Inc. (The) 51,000 672,579 0.0% Citizen Holdings Co., Ltd. 93,900 616,860 0.0% Coca-Cola East Japan Co., Ltd. 15,500 278,892 0.0% Coca-Cola West Co., Ltd. 14,900 212,702 0.0% #* COLOPL, Inc. 8,700 281,798 0.0% COMSYS Holdings Corp. 24,700 440,959 0.0% Cosmo Oil Co., Ltd. 128,000 199,447 0.0% # Cosmos Pharmaceutical Corp. 1,700 243,064 0.0% Credit Saison Co., Ltd. 32,000 675,531 0.0% Dai Nippon Printing Co., Ltd. 152,000 1,498,232 0.1% Dai-ichi Life Insurance Co., Ltd. (The) 177,200 2,681,691 0.1% Daicel Corp. 98,000 1,129,691 0.1% # Daido Steel Co., Ltd. 82,000 314,572 0.0% # Daihatsu Motor Co., Ltd. 75,600 1,072,988 0.0% Daiichi Sankyo Co., Ltd. 139,646 2,100,531 0.1% Daiichikosho Co., Ltd. 8,200 206,939 0.0% Daikin Industries, Ltd. 47,100 2,944,131 0.1% Daikyo, Inc. 98,000 184,239 0.0% Daito Trust Construction Co., Ltd. 17,100 2,130,673 0.1% Daiwa House Industry Co., Ltd. 119,000 2,251,431 0.1% Daiwa Securities Group, Inc. 326,000 2,576,364 0.1% # Dena Co., Ltd. 41,500 536,269 0.0% Denki Kagaku Kogyo K.K. 113,000 369,114 0.0% Denso Corp. 88,800 4,070,025 0.1% Dentsu, Inc. 40,100 1,490,898 0.1% DIC Corp. 300,000 614,847 0.0% # Disco Corp. 5,700 389,077 0.0% DMG Mori Seiki Co., Ltd. 18,200 214,352 0.0% Don Quijote Holdings Co., Ltd. 12,400 742,957 0.0% Dowa Holdings Co., Ltd. 94,200 793,222 0.0% East Japan Railway Co. 58,500 4,569,039 0.2% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------- ---------- --------------- JAPAN -- (Continued) Ebara Corp. 125,000 $ 686,806 0.0% Eisai Co., Ltd. 48,900 1,912,439 0.1% Electric Power Development Co., Ltd. 18,300 639,972 0.0% Exedy Corp. 5,600 141,553 0.0% Ezaki Glico Co., Ltd. 4,500 145,671 0.0% # FamilyMart Co., Ltd. 16,300 654,494 0.0% FANUC Corp. 35,700 6,291,617 0.2% Fast Retailing Co., Ltd. 11,300 4,200,857 0.2% # FP Corp. 3,400 97,991 0.0% Fuji Electric Co., Ltd. 167,000 733,709 0.0% Fuji Heavy Industries, Ltd. 125,086 4,163,256 0.1% Fuji Media Holdings, Inc. 15,800 218,005 0.0% FUJIFILM Holdings Corp. 96,300 3,232,655 0.1% Fujitsu, Ltd. 385,440 2,343,268 0.1% Fukuoka Financial Group, Inc. 190,000 972,239 0.0% # Fukuyama Transporting Co., Ltd. 29,000 145,537 0.0% Furukawa Electric Co., Ltd. 127,000 224,143 0.0% Glory, Ltd. 14,900 383,965 0.0% # Gree, Inc. 27,200 194,795 0.0% GS Yuasa Corp. 102,000 509,249 0.0% # GungHo Online Entertainment, Inc. 77,200 311,162 0.0% Gunma Bank, Ltd. (The) 90,000 561,643 0.0% H2O Retailing Corp. 22,500 374,224 0.0% Hachijuni Bank, Ltd. (The) 103,000 630,650 0.0% Hakuhodo DY Holdings, Inc. 47,200 466,785 0.0% Hamamatsu Photonics K.K. 16,700 758,686 0.0% Hankyu Hanshin Holdings, Inc. 344,000 2,022,572 0.1% Haseko Corp. 87,800 643,567 0.0% Heiwa Corp. 13,100 268,240 0.0% Hikari Tsushin, Inc. 3,800 252,074 0.0% Hino Motors, Ltd. 52,000 760,920 0.0% Hiroshima Bank, Ltd. (The) 138,000 689,914 0.0% # HIS Co., Ltd. 4,700 122,096 0.0% Hisamitsu Pharmaceutical Co., Inc. 11,500 387,104 0.0% Hitachi Capital Corp. 20,000 494,352 0.0% Hitachi Chemical Co., Ltd. 25,900 456,500 0.0% # Hitachi Construction Machinery Co., Ltd. 34,000 695,449 0.0% Hitachi High-Technologies Corp. 13,265 405,239 0.0% Hitachi Metals, Ltd. 42,000 709,078 0.0% Hitachi Transport System, Ltd. 8,415 111,361 0.0% Hitachi, Ltd. 742,000 5,830,243 0.2% Hitachi, Ltd. ADR 34,892 2,777,403 0.1% * Hokkaido Electric Power Co., Inc. 33,900 284,602 0.0% Hokuhoku Financial Group, Inc. 267,000 536,371 0.0% Hokuriku Electric Power Co. 36,600 494,111 0.0% Honda Motor Co., Ltd. 201,877 6,453,852 0.2% Honda Motor Co., Ltd. Sponsored ADR 132,783 4,264,990 0.2% Horiba, Ltd. 3,800 137,475 0.0% Hoshizaki Electric Co., Ltd. 6,500 314,845 0.0% House Foods Group, Inc. 16,300 278,930 0.0% Hoya Corp. 83,200 2,944,185 0.1% Ibiden Co., Ltd. 36,200 544,157 0.0% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** --------- ---------- --------------- JAPAN -- (Continued) Idemitsu Kosan Co., Ltd. 40,500 $ 783,255 0.0% IHI Corp. 301,000 1,451,010 0.1% Iida Group Holdings Co., Ltd. 32,500 361,145 0.0% Inpex Corp. 160,800 2,056,703 0.1% Isetan Mitsukoshi Holdings, Ltd. 88,080 1,199,127 0.1% Isuzu Motors, Ltd. 157,900 2,060,180 0.1% # Ito En, Ltd. 16,500 328,136 0.0% ITOCHU Corp. 307,500 3,717,226 0.1% Itochu Techno-Solutions Corp. 5,900 234,576 0.0% # Iwatani Corp. 7,000 47,860 0.0% Iyo Bank, Ltd. (The) 61,000 651,383 0.0% Izumi Co., Ltd. 12,800 411,821 0.0% J Front Retailing Co., Ltd. 69,600 926,365 0.0% Japan Airlines Co., Ltd. 14,200 381,299 0.0% Japan Airport Terminal Co., Ltd. 5,800 228,828 0.0% Japan Aviation Electronics Industry, Ltd. 7,000 138,690 0.0% Japan Exchange Group, Inc. 56,100 1,391,620 0.1% # Japan Steel Works, Ltd. (The) 76,000 271,854 0.0% Japan Tobacco, Inc. 216,900 7,400,419 0.3% JFE Holdings, Inc. 106,400 2,110,972 0.1% JGC Corp. 36,000 925,192 0.0% # Joyo Bank, Ltd. (The) 160,000 856,745 0.0% JSR Corp. 36,100 650,098 0.0% JTEKT Corp. 63,260 1,017,422 0.0% JX Holdings, Inc. 563,570 2,414,136 0.1% K's Holdings Corp. 10,139 280,012 0.0% # Kagome Co., Ltd. 17,600 285,535 0.0% Kagoshima Bank, Ltd. (The) 13,000 84,307 0.0% Kajima Corp. 173,000 769,773 0.0% Kakaku.com, Inc. 30,400 413,911 0.0% Kaken Pharmaceutical Co., Ltd. 13,000 325,702 0.0% Kamigumi Co., Ltd. 67,000 646,004 0.0% Kaneka Corp. 89,000 488,996 0.0% * Kansai Electric Power Co., Inc. (The) 113,400 1,119,883 0.1% Kansai Paint Co., Ltd. 40,000 611,462 0.0% Kao Corp. 99,900 3,895,508 0.1% Kawasaki Heavy Industries, Ltd. 382,000 1,500,454 0.1% Kawasaki Kisen Kaisha, Ltd. 288,000 656,175 0.0% KDDI Corp. 125,900 8,267,783 0.3% # Keihan Electric Railway Co., Ltd. 141,000 691,065 0.0% Keikyu Corp. 80,000 665,593 0.0% Keio Corp. 97,000 736,786 0.0% Keisei Electric Railway Co., Ltd. 67,000 787,487 0.0% Keiyo Bank, Ltd. (The) 43,000 224,813 0.0% Kewpie Corp. 21,800 376,808 0.0% Keyence Corp. 8,651 4,192,118 0.1% # Kikkoman Corp. 32,000 736,039 0.0% Kinden Corp. 35,000 358,646 0.0% Kintetsu Corp. 291,280 1,013,244 0.0% Kirin Holdings Co., Ltd. 171,000 2,216,981 0.1% # Kobayashi Pharmaceutical Co., Ltd. 5,300 327,151 0.0% Kobe Steel, Ltd. 1,710,000 2,716,929 0.1% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** --------- ---------- --------------- JAPAN -- (Continued) Koito Manufacturing Co., Ltd. 22,700 $ 684,003 0.0% Komatsu, Ltd. 185,300 4,374,812 0.2% Komeri Co., Ltd. 5,000 112,398 0.0% Konami Corp. 20,500 411,604 0.0% Konami Corp. ADR 3,500 70,455 0.0% Konica Minolta, Inc. 155,900 1,741,986 0.1% Kose Corp. 6,390 261,142 0.0% Kubota Corp. 176,000 2,801,569 0.1% Kubota Corp. Sponsored ADR 8,151 655,177 0.0% Kuraray Co., Ltd. 75,000 871,130 0.0% Kurita Water Industries, Ltd. 27,000 582,641 0.0% Kyocera Corp. 42,800 1,972,713 0.1% Kyocera Corp. Sponsored ADR 21,658 1,004,715 0.0% KYORIN Holdings, Inc. 5,400 113,766 0.0% Kyowa Hakko Kirin Co., Ltd. 53,000 618,157 0.0% * Kyushu Electric Power Co., Inc. 63,200 685,698 0.0% Lawson, Inc. 15,300 1,037,911 0.0% Lintec Corp. 7,200 150,325 0.0% Lion Corp. 47,000 265,544 0.0% LIXIL Group Corp. 61,440 1,347,402 0.1% M3, Inc. 35,300 589,103 0.0% Maeda Road Construction Co., Ltd. 9,000 138,730 0.0% Makita Corp. 20,200 1,131,182 0.1% Makita Corp. Sponsored ADR 1,630 90,628 0.0% Marubeni Corp. 401,600 2,582,066 0.1% # Marui Group Co., Ltd. 58,400 493,551 0.0% # Matsui Securities Co., Ltd. 34,300 329,108 0.0% Matsumotokiyoshi Holdings Co., Ltd. 5,200 151,227 0.0% Mazda Motor Corp. 116,299 2,747,772 0.1% # McDonald's Holdings Co. Japan, Ltd. 12,400 302,652 0.0% Medipal Holdings Corp. 27,200 301,490 0.0% Meiji Holdings Co., Ltd. 15,356 1,288,408 0.1% Minebea Co., Ltd. 74,000 1,013,980 0.0% Miraca Holdings, Inc. 15,000 629,692 0.0% MISUMI Group, Inc. 18,400 580,591 0.0% Mitsubishi Chemical Holdings Corp. 734,690 3,618,999 0.1% # Mitsubishi Corp. 290,000 5,686,421 0.2% Mitsubishi Electric Corp. 361,000 4,654,658 0.2% Mitsubishi Estate Co., Ltd. 237,000 6,037,516 0.2% Mitsubishi Gas Chemical Co., Inc. 91,000 544,469 0.0% Mitsubishi Heavy Industries, Ltd. 591,000 3,686,679 0.1% Mitsubishi Logistics Corp. 26,000 396,018 0.0% Mitsubishi Materials Corp. 521,000 1,630,683 0.1% Mitsubishi Motors Corp. 185,699 1,910,693 0.1% Mitsubishi Shokuhin Co., Ltd. 1,100 24,778 0.0% Mitsubishi Tanabe Pharma Corp. 40,400 614,370 0.0% Mitsubishi UFJ Financial Group, Inc. 1,164,572 6,788,539 0.2% Mitsubishi UFJ Financial Group, Inc. ADR 1,455,897 8,560,674 0.3% Mitsui & Co., Ltd. 310,100 4,682,219 0.2% Mitsui & Co., Ltd. Sponsored ADR 2,559 781,263 0.0% * Mitsui Chemicals, Inc. 247,000 715,484 0.0% Mitsui Engineering & Shipbuilding Co., Ltd. 114,000 247,832 0.0% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** --------- ---------- --------------- JAPAN -- (Continued) Mitsui Fudosan Co., Ltd. 157,000 $5,050,128 0.2% Mitsui Mining & Smelting Co., Ltd. 148,000 392,581 0.0% Mitsui OSK Lines, Ltd. 363,000 1,146,846 0.1% Mizuho Financial Group, Inc. 4,096,505 7,465,125 0.3% Mizuho Financial Group, Inc. ADR 312,894 1,157,708 0.1% Mochida Pharmaceutical Co., Ltd. 1,600 100,053 0.0% MS&AD Insurance Group Holdings, Inc. 98,095 2,120,496 0.1% Murata Manufacturing Co., Ltd. 39,600 4,449,473 0.2% # Nabtesco Corp. 29,000 701,814 0.0% Nagase & Co., Ltd. 27,100 351,020 0.0% Nagoya Railroad Co., Ltd. 121,000 517,386 0.0% # Nankai Electric Railway Co., Ltd. 110,000 520,494 0.0% Nanto Bank, Ltd. (The) 2,000 8,029 0.0% NEC Corp. 988,546 3,495,869 0.1% Nexon Co., Ltd. 20,400 179,769 0.0% NGK Insulators, Ltd. 55,000 1,184,591 0.1% NGK Spark Plug Co., Ltd. 34,000 886,737 0.0% NH Foods, Ltd. 43,000 991,567 0.0% NHK Spring Co., Ltd. 52,700 482,328 0.0% Nichirei Corp. 34,000 144,709 0.0% # Nidec Corp. 23,200 1,532,885 0.1% Nidec Corp. ADR 53,108 885,310 0.0% Nifco, Inc. 2,700 85,554 0.0% Nihon Kohden Corp. 5,400 276,085 0.0% # Nikon Corp. 75,700 1,037,216 0.0% Nintendo Co., Ltd. 17,600 1,896,892 0.1% Nippo Corp. 15,000 274,180 0.0% Nippon Electric Glass Co., Ltd. 97,500 453,379 0.0% Nippon Express Co., Ltd. 284,000 1,249,305 0.1% Nippon Kayaku Co., Ltd. 33,000 433,919 0.0% # Nippon Paint Holdings Co., Ltd. 28,000 635,805 0.0% # Nippon Paper Industries Co., Ltd. 28,300 416,493 0.0% Nippon Shinyaku Co., Ltd. 7,000 201,477 0.0% Nippon Shokubai Co., Ltd. 38,000 455,488 0.0% Nippon Steel & Sumitomo Metal Corp. 1,455,420 3,840,626 0.1% Nippon Telegraph & Telephone Corp. 60,400 3,758,017 0.1% Nippon Telegraph & Telephone Corp. ADR 12,525 394,287 0.0% Nippon Television Holdings, Inc. 12,900 196,057 0.0% # Nippon Yusen K.K. 544,000 1,410,352 0.1% # Nipro Corp. 26,900 221,629 0.0% Nishi-Nippon City Bank, Ltd. (The) 179,000 490,678 0.0% Nishi-Nippon Railroad Co., Ltd. 41,000 163,365 0.0% Nissan Chemical Industries, Ltd. 35,600 660,054 0.0% Nissan Motor Co., Ltd. 616,700 5,625,352 0.2% Nissan Shatai Co., Ltd. 22,000 302,734 0.0% Nisshin Seifun Group, Inc. 68,970 697,426 0.0% # Nisshin Steel Co., Ltd. 11,700 109,243 0.0% Nisshinbo Holdings, Inc. 29,000 239,495 0.0% Nissin Foods Holdings Co., Ltd. 10,000 527,049 0.0% Nitori Holdings Co., Ltd. 12,900 817,545 0.0% # Nitto Denko Corp. 37,500 2,028,151 0.1% NOK Corp. 20,980 531,517 0.0% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------- ---------- --------------- JAPAN -- (Continued) Nomura Holdings, Inc. 378,900 $2,366,756 0.1% Nomura Holdings, Inc. ADR 354,797 2,252,961 0.1% Nomura Real Estate Holdings, Inc. 37,700 666,305 0.0% Nomura Research Institute, Ltd. 25,900 854,280 0.0% NSK, Ltd. 97,000 1,270,514 0.1% NTN Corp. 164,000 709,098 0.0% NTT Data Corp. 36,800 1,438,562 0.1% NTT DOCOMO, Inc. 279,928 4,721,233 0.2% # NTT DOCOMO, Inc. Sponsored ADR 51,866 874,979 0.0% # NTT Urban Development Corp. 27,400 310,114 0.0% Obayashi Corp. 121,000 830,381 0.0% Obic Co., Ltd. 14,300 510,496 0.0% Odakyu Electric Railway Co., Ltd. 107,000 1,004,226 0.0% Oji Holdings Corp. 330,000 1,193,129 0.1% OKUMA Corp. 27,000 193,862 0.0% * Olympus Corp. 48,600 1,744,987 0.1% Omron Corp. 45,500 2,153,727 0.1% Oracle Corp. Japan 9,600 371,648 0.0% Oriental Land Co., Ltd. 10,300 2,202,543 0.1% Osaka Gas Co., Ltd. 295,000 1,176,705 0.1% OSG Corp. 9,900 161,431 0.0% Otsuka Corp. 11,800 438,762 0.0% Otsuka Holdings Co., Ltd. 54,500 1,911,753 0.1% Panasonic Corp. 374,589 4,506,772 0.2% Panasonic Corp. Sponsored ADR 108,991 1,323,151 0.1% Park24 Co., Ltd. 18,900 285,990 0.0% Pigeon Corp. 7,800 486,231 0.0% # Pola Orbis Holdings, Inc. 5,200 213,552 0.0% Rakuten, Inc. 186,100 2,098,551 0.1% Resona Holdings, Inc. 481,800 2,755,793 0.1% Resorttrust, Inc. 15,100 364,042 0.0% Ricoh Co., Ltd. 233,600 2,412,469 0.1% Rinnai Corp. 5,500 488,548 0.0% Rohm Co., Ltd. 17,900 1,089,587 0.1% Rohto Pharmaceutical Co., Ltd. 18,500 268,356 0.0% Ryohin Keikaku Co., Ltd. 3,500 472,609 0.0% Sankyo Co., Ltd. 13,000 473,083 0.0% Sankyu, Inc. 7,000 32,363 0.0% # Sanrio Co., Ltd. 9,900 286,233 0.0% Santen Pharmaceutical Co., Ltd. 10,100 602,834 0.0% Sanwa Holdings Corp. 42,000 291,229 0.0% Sapporo Holdings, Ltd. 31,000 134,162 0.0% Sawai Pharmaceutical Co., Ltd. 8,200 488,533 0.0% SBI Holdings, Inc. 77,350 891,965 0.0% SCSK Corp. 7,500 201,625 0.0% Secom Co., Ltd. 39,000 2,403,376 0.1% Sega Sammy Holdings, Inc. 41,648 661,600 0.0% Seiko Epson Corp. 27,400 1,271,489 0.1% Seino Holdings Co., Ltd. 35,000 274,428 0.0% Sekisui Chemical Co., Ltd. 145,000 1,807,188 0.1% Sekisui House, Ltd. 188,460 2,343,479 0.1% Seven & I Holdings Co., Ltd. 142,976 5,584,085 0.2% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------- ----------- --------------- JAPAN -- (Continued) # Seven Bank, Ltd. 122,700 $ 512,444 0.0% #* Sharp Corp. 385,000 969,607 0.0% Shiga Bank, Ltd. (The) 47,000 263,235 0.0% * Shikoku Electric Power Co., Inc. 39,500 542,050 0.0% Shimadzu Corp. 55,000 478,572 0.0% Shimamura Co., Ltd. 5,800 510,128 0.0% Shimano, Inc. 13,800 1,829,954 0.1% Shimizu Corp. 118,000 870,806 0.0% Shin-Etsu Chemical Co., Ltd. 80,800 5,186,439 0.2% # Shinsei Bank, Ltd. 432,000 970,865 0.0% Shionogi & Co., Ltd. 59,900 1,567,089 0.1% # Shiseido Co., Ltd. 74,900 1,242,902 0.1% Shizuoka Bank, Ltd. (The) 141,000 1,456,920 0.1% Showa Denko K.K. 648,000 857,520 0.0% # Showa Shell Sekiyu K.K. 64,300 551,714 0.0% SKY Perfect JSAT Holdings, Inc. 50,100 307,554 0.0% SMC Corp. 9,900 2,807,970 0.1% Softbank Corp. 209,500 15,251,477 0.5% Sohgo Security Services Co., Ltd. 10,300 240,871 0.0% Sojitz Corp. 317,800 473,720 0.0% Sompo Japan Nipponkoa Holdings, Inc. 82,950 2,088,730 0.1% Sony Corp. 162,300 3,204,340 0.1% Sony Corp. Sponsored ADR 74,848 1,483,487 0.1% Sony Financial Holdings, Inc. 38,200 609,851 0.0% Sotetsu Holdings, Inc. 83,000 311,823 0.0% Square Enix Holdings Co., Ltd. 20,200 415,722 0.0% Stanley Electric Co., Ltd. 36,700 746,133 0.0% Start Today Co., Ltd. 10,500 227,190 0.0% Sugi Holdings Co., Ltd. 7,100 310,080 0.0% # Sumco Corp. 32,100 431,717 0.0% Sumitomo Chemical Co., Ltd. 812,000 2,785,514 0.1% Sumitomo Corp. 235,900 2,516,986 0.1% # Sumitomo Dainippon Pharma Co., Ltd. 46,700 550,870 0.0% Sumitomo Electric Industries, Ltd. 176,200 2,408,406 0.1% Sumitomo Forestry Co., Ltd. 35,800 376,186 0.0% Sumitomo Heavy Industries, Ltd. 133,000 729,163 0.0% Sumitomo Metal Mining Co., Ltd. 139,000 1,928,279 0.1% Sumitomo Mitsui Financial Group, Inc. 286,140 11,669,620 0.4% Sumitomo Mitsui Trust Holdings, Inc. 684,210 2,793,438 0.1% Sumitomo Osaka Cement Co., Ltd. 51,000 159,427 0.0% Sumitomo Realty & Development Co., Ltd. 72,000 2,699,205 0.1% Sumitomo Rubber Industries, Ltd. 61,000 843,083 0.0% Sundrug Co., Ltd. 6,300 304,338 0.0% Suruga Bank, Ltd. 32,000 669,004 0.0% Suzuken Co., Ltd. 15,480 415,032 0.0% Suzuki Motor Corp. 74,900 2,510,535 0.1% Sysmex Corp. 30,300 1,293,511 0.1% T&D Holdings, Inc. 180,800 2,328,972 0.1% Tadano, Ltd. 32,000 478,348 0.0% Taiheiyo Cement Corp. 258,000 946,590 0.0% Taisei Corp. 183,000 1,017,653 0.0% # Taiyo Nippon Sanso Corp. 50,000 450,153 0.0% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------- ----------- --------------- JAPAN -- (Continued) Takara Holdings, Inc. 23,000 $ 183,103 0.0% Takashimaya Co., Ltd. 68,000 579,263 0.0% # Takata Corp. 10,000 130,680 0.0% Takeda Pharmaceutical Co., Ltd. 142,300 6,168,468 0.2% TDK Corp. 38,600 2,191,017 0.1% TDK Corp. Sponsored ADR 1,900 108,300 0.0% Teijin, Ltd. 404,000 987,699 0.0% Terumo Corp. 53,600 1,339,925 0.1% THK Co., Ltd. 20,000 503,057 0.0% Tobu Railway Co., Ltd. 168,000 849,852 0.0% # Toho Co., Ltd. 18,200 417,464 0.0% Toho Gas Co., Ltd. 101,000 546,251 0.0% Toho Holdings Co., Ltd. 7,100 92,885 0.0% Tohoku Electric Power Co., Inc. 68,300 853,627 0.0% Tokai Rika Co., Ltd. 17,400 331,406 0.0% Tokai Tokyo Financial Holdings, Inc. 42,100 285,594 0.0% Tokio Marine Holdings, Inc. 138,400 4,438,227 0.2% Tokio Marine Holdings, Inc. ADR 4,182 135,957 0.0% Tokyo Broadcasting System Holdings, Inc. 8,300 92,017 0.0% * Tokyo Electric Power Co., Inc. 242,200 873,304 0.0% Tokyo Electron, Ltd. 32,800 2,102,961 0.1% Tokyo Gas Co., Ltd. 403,000 2,323,018 0.1% # Tokyo Tatemono Co., Ltd. 88,039 768,523 0.0% Tokyu Corp. 165,000 1,089,470 0.1% Tokyu Fudosan Holdings Corp. 135,200 960,908 0.0% TonenGeneral Sekiyu K.K. 42,000 366,576 0.0% Topcon Corp. 11,100 260,629 0.0% Toppan Printing Co., Ltd. 145,000 986,613 0.0% Toray Industries, Inc. 344,000 2,309,419 0.1% Toshiba Corp. 799,000 3,528,476 0.1% Toshiba TEC Corp. 40,000 282,273 0.0% Tosoh Corp. 179,000 778,396 0.0% TOTO, Ltd. 72,000 812,439 0.0% Toyo Seikan Group Holdings, Ltd. 37,400 453,538 0.0% Toyo Suisan Kaisha, Ltd. 17,000 587,116 0.0% Toyo Tire & Rubber Co., Ltd. 31,599 521,264 0.0% Toyobo Co., Ltd. 192,000 276,363 0.0% Toyoda Gosei Co., Ltd. 31,600 607,093 0.0% # Toyota Boshoku Corp. 29,800 338,427 0.0% Toyota Motor Corp. 378,600 22,783,080 0.7% # Toyota Motor Corp. Sponsored ADR 105,729 12,830,214 0.4% Toyota Tsusho Corp. 97,481 2,457,993 0.1% Trend Micro, Inc. 22,800 768,259 0.0% Trend Micro, Inc. Sponsored ADR 777 26,371 0.0% TS Tech Co., Ltd. 16,300 400,631 0.0% # Tsumura & Co. 9,000 201,382 0.0% Tsuruha Holdings, Inc. 5,800 342,436 0.0% # UACJ Corp. 26,000 95,787 0.0% # Ube Industries, Ltd. 374,000 579,070 0.0% # Unicharm Corp. 65,600 1,525,426 0.1% United Arrows, Ltd. 800 29,980 0.0% # UNY Group Holdings Co., Ltd. 44,100 233,793 0.0% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** --------- ------------ --------------- JAPAN -- (Continued) Ushio, Inc. 18,500 $ 194,153 0.0% USS Co., Ltd. 48,700 766,440 0.0% Wacoal Holdings Corp. 27,000 281,171 0.0% West Japan Railway Co. 25,500 1,215,467 0.1% Yahoo Japan Corp. 315,600 1,136,984 0.1% # Yakult Honsha Co., Ltd. 17,200 952,524 0.0% # Yamada Denki Co., Ltd. 236,800 759,092 0.0% Yamaguchi Financial Group, Inc. 48,000 458,443 0.0% Yamaha Corp. 31,700 434,510 0.0% Yamaha Motor Co., Ltd. 59,600 1,127,496 0.1% Yamato Holdings Co., Ltd. 60,900 1,302,175 0.1% Yamato Kogyo Co., Ltd. 8,700 281,836 0.0% Yamazaki Baking Co., Ltd. 24,000 296,703 0.0% # Yaskawa Electric Corp. 65,300 846,431 0.0% # Yokogawa Electric Corp. 37,500 521,735 0.0% Yokohama Rubber Co., Ltd. (The) 88,000 798,824 0.0% # Zensho Holdings Co., Ltd. 6,000 54,464 0.0% Zeon Corp. 65,000 601,660 0.0% ------------ ---- TOTAL JAPAN 615,586,042 19.7% ------------ ---- NETHERLANDS -- (2.4%) Aegon NV(007924103) 23,335 190,647 0.0% Aegon NV(5927375) 494,652 4,031,635 0.1% # Akzo Nobel NV 80,754 5,385,202 0.2% Akzo Nobel NV Sponsored ADR 5,988 132,335 0.0% ArcelorMittal(B03XPL1) 173,377 2,277,510 0.1% # ArcelorMittal(B295F26) 113,405 1,492,410 0.0% ASML Holding NV(B929F46) 49,663 4,951,987 0.2% ASML Holding NV(B908F01) 16,254 1,620,199 0.1% Delta Lloyd NV 21,553 491,263 0.0% #* Fiat Chrysler Automobiles NV 7,000 80,220 0.0% # Fugro NV 15,891 219,107 0.0% # Gemalto NV 17,175 1,313,659 0.0% Heineken NV 46,575 3,479,344 0.1% * ING Groep NV 414,267 5,932,453 0.2% #* ING Groep NV Sponsored ADR 333,017 4,768,803 0.2% Koninklijke Ahold NV 285,672 4,784,610 0.2% Koninklijke Ahold NV Sponsored ADR 7,679 128,854 0.0% Koninklijke Boskalis Westminster NV 30,425 1,623,184 0.1% Koninklijke DSM NV 42,565 2,667,037 0.1% Koninklijke KPN NV 1,111,525 3,658,843 0.1% Koninklijke Philips NV(500472303) 11,806 329,860 0.0% Koninklijke Philips NV(5986622) 179,948 5,030,965 0.2% Koninklijke Vopak NV 22,434 1,125,050 0.0% Randstad Holding NV 26,352 1,163,211 0.0% Reed Elsevier NV 114,896 2,646,658 0.1% # Reed Elsevier NV Sponsored ADR 22,835 1,050,638 0.0% TNT Express NV 56,732 329,755 0.0% Unilever NV(904784709) 94,516 3,660,605 0.1% Unilever NV(B12T3J1) 266,779 10,339,940 0.3% Wolters Kluwer NV 92,798 2,477,585 0.1% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** --------- ----------- --------------- NETHERLANDS -- (Continued) Ziggo NV 28,044 $ 1,370,458 0.0% ----------- --- TOTAL NETHERLANDS 78,754,027 2.5% ----------- --- NEW ZEALAND -- (0.1%) Auckland International Airport, Ltd. 182,313 551,166 0.0% Chorus, Ltd. 57,576 95,514 0.0% Contact Energy, Ltd. 65,243 316,507 0.0% Fletcher Building, Ltd. 165,407 1,115,657 0.0% # Ryman Healthcare, Ltd. 27,430 162,403 0.0% # SKYCITY Entertainment Group, Ltd. 403 1,232 0.0% Spark New Zealand, Ltd. 481,450 1,188,124 0.1% # TrustPower, Ltd. 8,019 46,927 0.0% * Xero, Ltd. 1,961 24,324 0.0% ----------- --- TOTAL NEW ZEALAND 3,501,854 0.1% ----------- --- NORWAY -- (0.8%) # Akastor ASA 40,633 139,957 0.0% Aker ASA Class A 4,790 116,838 0.0% * Aker Solutions ASA 40,633 263,258 0.0% * Archer, Ltd. 31,266 30,134 0.0% * Det Norske Oljeselskap ASA 9,362 60,596 0.0% DNB ASA 199,568 3,666,514 0.1% #* DNO ASA 83,791 203,006 0.0% Fred Olsen Energy ASA 7,661 81,754 0.0% # Gjensidige Forsikring ASA 34,121 619,792 0.0% Golar LNG, Ltd. 6,906 387,496 0.0% Kongsberg Gruppen A.S. 6,143 124,313 0.0% Leroey Seafood Group ASA 1,979 74,864 0.0% Marine Harvest ASA 60,248 853,262 0.0% Norsk Hydro ASA 343,242 1,921,784 0.1% # Norsk Hydro ASA Sponsored ADR 11,200 63,504 0.0% Orkla ASA 149,735 1,144,879 0.1% # Petroleum Geo-Services ASA 87,460 434,397 0.0% Prosafe SE 36,219 165,704 0.0% Salmar ASA 6,761 121,810 0.0% # Schibsted ASA 14,887 787,392 0.0% # Seadrill, Ltd.(B09RMQ1) 74,635 1,686,682 0.1% # Seadrill, Ltd.(B0HWHV8) 19,180 441,140 0.0% SpareBank 1 SR Bank ASA 24,305 209,075 0.0% Statoil ASA 213,502 4,886,085 0.2% Statoil ASA Sponsored ADR 38,709 888,371 0.1% Stolt-Nielsen, Ltd. 900 16,216 0.0% * Storebrand ASA 135,061 692,512 0.0% Subsea 7 SA 76,437 822,568 0.0% Telenor ASA 147,057 3,306,818 0.1% # TGS Nopec Geophysical Co. ASA 20,147 469,985 0.0% Yara International ASA 40,858 1,876,254 0.1% ----------- --- TOTAL NORWAY 26,556,960 0.9% ----------- --- PORTUGAL -- (0.1%) #* Banco Comercial Portugues SA 2,044,420 231,074 0.0% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** --------- ---------- --------------- PORTUGAL -- (Continued) * Banco Espirito Santo SA 513,592 $ -- 0.0% EDP - Energias de Portugal SA 468,453 2,015,907 0.1% EDP Renovaveis SA 68,539 445,616 0.0% Galp Energia SGPS SA 104,180 1,510,450 0.1% Jeronimo Martins SGPS SA 49,432 432,610 0.0% # Portugal Telecom SGPS SA 103,660 169,785 0.0% # Portugal Telecom SGPS SA Sponsored ADR 20,300 33,089 0.0% ---------- --- TOTAL PORTUGAL 4,838,531 0.2% ---------- --- SINGAPORE -- (1.4%) #* Biosensors International Group, Ltd. 152,000 73,926 0.0% CapitaLand, Ltd. 728,750 1,799,222 0.1% City Developments, Ltd. 108,000 794,872 0.0% ComfortDelGro Corp., Ltd. 430,000 884,081 0.0% Cosco Corp. Singapore, Ltd. 132,000 61,191 0.0% DBS Group Holdings, Ltd. 370,370 5,327,926 0.2% # Ezion Holdings, Ltd. 449,200 528,973 0.0% # First Resources, Ltd. 138,000 223,572 0.0% # Genting Hong Kong, Ltd. 83,000 30,385 0.0% # Genting Singapore P.L.C. 1,300,000 1,113,410 0.1% Global Logistic Properties, Ltd. 558,000 1,195,774 0.1% Golden Agri-Resources, Ltd. 1,881,000 762,277 0.0% Great Eastern Holdings, Ltd. 13,000 242,831 0.0% # GuocoLand, Ltd. 58,000 86,127 0.0% Hongkong Land Holdings, Ltd. 212,000 1,478,470 0.1% Hutchison Port Holdings Trust 1,196,000 807,550 0.0% Jardine Cycle & Carriage, Ltd. 26,339 818,733 0.0% Keppel Corp., Ltd. 278,600 2,043,033 0.1% Keppel Land, Ltd. 206,000 536,035 0.0% M1, Ltd. 88,000 239,045 0.0% #* Neptune Orient Lines, Ltd. 153,000 99,526 0.0% Noble Group, Ltd. 1,494,000 1,390,702 0.1% # OUE, Ltd. 44,000 72,337 0.0% Oversea-Chinese Banking Corp., Ltd. 576,349 4,439,678 0.2% Petra Foods, Ltd. 43,000 127,451 0.0% # Raffles Medical Group, Ltd. 44,000 130,264 0.0% SATS, Ltd. 217,736 525,475 0.0% SembCorp Industries, Ltd. 281,320 1,064,258 0.0% # SembCorp Marine, Ltd. 196,000 555,274 0.0% SIA Engineering Co., Ltd. 32,000 118,664 0.0% Singapore Airlines, Ltd. 174,400 1,344,037 0.1% Singapore Exchange, Ltd. 200,000 1,089,944 0.0% Singapore Post, Ltd. 281,000 431,298 0.0% # Singapore Press Holdings, Ltd. 320,000 1,066,602 0.0% Singapore Technologies Engineering, Ltd. 372,000 1,086,071 0.0% Singapore Telecommunications, Ltd. 1,755,650 5,167,364 0.2% SMRT Corp., Ltd. 215,000 249,474 0.0% StarHub, Ltd. 125,000 401,788 0.0% # Super Group, Ltd. 22,000 20,247 0.0% United Industrial Corp., Ltd. 96,909 252,135 0.0% United Overseas Bank, Ltd. 254,289 4,555,758 0.2% UOL Group, Ltd. 171,987 863,848 0.0% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** --------- ----------- --------------- SINGAPORE -- (Continued) Venture Corp., Ltd. 48,000 $ 289,123 0.0% Wilmar International, Ltd. 382,000 952,207 0.0% ----------- --- TOTAL SINGAPORE 45,340,958 1.5% ----------- --- SPAIN -- (2.9%) # Abertis Infraestructuras SA 102,160 2,130,283 0.1% * Acciona SA 7,527 526,051 0.0% Acerinox SA 23,737 353,201 0.0% ACS Actividades de Construccion y Servicios SA 39,637 1,471,241 0.0% Amadeus IT Holding SA Class A 87,761 3,228,917 0.1% Banco Bilbao Vizcaya Argentaria SA 430,663 4,816,913 0.1% # Banco Bilbao Vizcaya Argentaria SA Sponsored ADR 545,418 6,086,865 0.2% Banco de Sabadell SA 1,702,051 4,921,004 0.2% Banco Popular Espanol SA 533,650 3,065,397 0.1% Banco Santander SA 1,186,769 10,485,725 0.3% # Banco Santander SA Sponsored ADR 757,901 6,646,793 0.2% * Bankia SA 895,031 1,605,101 0.1% Bankinter SA 200,716 1,660,425 0.1% CaixaBank SA 388,635 2,123,969 0.1% Distribuidora Internacional de Alimentacion SA 129,911 825,425 0.0% Enagas SA 71,187 2,389,018 0.1% Ferrovial SA 74,796 1,529,207 0.0% Gas Natural SDG SA 74,037 2,137,947 0.1% Grifols SA 30,279 1,236,418 0.0% Iberdrola SA 1,263,271 8,942,589 0.3% # Inditex SA 221,288 6,225,516 0.2% Mapfre SA 449,680 1,541,977 0.0% * Mediaset Espana Comunicacion SA 51,418 645,519 0.0% # Obrascon Huarte Lain SA 5,256 153,661 0.0% Prosegur Cia de Seguridad SA 26,700 156,828 0.0% Red Electrica Corp. SA 26,017 2,273,398 0.1% Repsol SA 119,955 2,680,864 0.1% Repsol SA Sponsored ADR 83,163 1,863,683 0.1% Telefonica SA 469,786 7,069,188 0.2% Telefonica SA Sponsored ADR 370,982 5,557,310 0.2% Zardoya Otis SA 32,093 374,202 0.0% ----------- --- TOTAL SPAIN 94,724,635 3.0% ----------- --- SWEDEN -- (2.7%) Alfa Laval AB 77,031 1,587,909 0.1% Assa Abloy AB Class B 82,362 4,372,150 0.1% Atlas Copco AB Class A 148,458 4,300,201 0.1% Atlas Copco AB Class B 82,978 2,197,907 0.1% BillerudKorsnas AB 33,924 494,808 0.0% Boliden AB 90,016 1,487,727 0.1% Electrolux AB Series B 66,573 1,886,331 0.1% Elekta AB Class B 68,768 705,209 0.0% Getinge AB Class B 41,184 944,891 0.0% Hennes & Mauritz AB Class B 209,813 8,371,428 0.3% Hexagon AB Class B 49,033 1,654,647 0.1% Hexpol AB 1,713 151,767 0.0% Holmen AB Class B 5,800 191,966 0.0% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------- ----------- --------------- SWEDEN -- (Continued) Husqvarna AB Class A 12,600 $ 93,404 0.0% Husqvarna AB Class B 107,146 799,967 0.0% ICA Gruppen AB 19,407 777,069 0.0% * Lundin Petroleum AB 46,131 652,042 0.0% Meda AB Class A 70,591 924,466 0.0% # Millicom International Cellular SA 16,494 1,346,164 0.1% Modern Times Group AB Class B 8,337 257,746 0.0% NCC AB Class A 431 12,703 0.0% # NCC AB Class B 28,722 844,859 0.0% Nibe Industrier AB Class B 17,567 466,303 0.0% Nordea Bank AB 636,373 8,184,872 0.3% # Ratos AB Class B 43,167 289,719 0.0% Saab AB Class B 8,215 221,864 0.0% Sandvik AB 298,519 3,279,263 0.1% Securitas AB Class B 121,441 1,343,818 0.0% Skandinaviska Enskilda Banken AB Class A 321,475 4,129,110 0.1% Skanska AB Class B 90,980 1,854,578 0.1% SKF AB Class A 545 10,953 0.0% SKF AB Class B 96,560 1,936,744 0.1% #* SSAB AB Class A 46,577 337,984 0.0% * SSAB AB Class B 32,975 211,188 0.0% Svenska Cellulosa AB Class A 5,862 131,699 0.0% Svenska Cellulosa AB Class B 175,333 3,928,596 0.1% Svenska Handelsbanken AB Class A 105,273 5,032,595 0.2% Svenska Handelsbanken AB Class B 782 35,922 0.0% Swedbank AB Class A 188,752 5,002,055 0.2% Swedish Match AB 47,225 1,535,616 0.1% * Swedish Orphan Biovitrum AB 12,618 144,316 0.0% Tele2 AB Class B 134,492 1,708,801 0.1% Telefonaktiebolaget LM Ericsson Class A 14,581 162,411 0.0% Telefonaktiebolaget LM Ericsson Class B 568,712 6,720,126 0.2% Telefonaktiebolaget LM Ericsson Sponsored ADR 44,578 527,803 0.0% TeliaSonera AB 509,051 3,525,059 0.1% Trelleborg AB Class B 66,625 1,140,643 0.0% Volvo AB Class A 79,048 921,378 0.0% Volvo AB Class B 285,015 3,289,198 0.1% Volvo AB Sponsored ADR 14,500 166,895 0.0% ----------- --- TOTAL SWEDEN 90,294,870 2.9% ----------- --- SWITZERLAND -- (7.7%) ABB, Ltd. 338,011 7,415,511 0.2% # ABB, Ltd. Sponsored ADR 175,582 3,852,269 0.1% Actelion, Ltd. 21,676 2,581,506 0.1% Adecco SA 57,023 3,865,111 0.1% Aryzta AG 27,575 2,352,190 0.1% Baloise Holding AG 12,700 1,598,737 0.1% Banque Cantonale Vaudoise 538 288,143 0.0% Barry Callebaut AG 586 615,049 0.0% Chocoladefabriken Lindt & Sprungli AG 22 1,317,760 0.0% Cie Financiere Richemont SA 101,918 8,593,092 0.3% Clariant AG 154,039 2,686,907 0.1% * Coca-Cola HBC AG ADR 27,952 607,173 0.0% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------- ------------ --------------- SWITZERLAND -- (Continued) Credit Suisse Group AG 232,335 $ 6,190,287 0.2% # Credit Suisse Group AG Sponsored ADR 71,274 1,898,739 0.1% # DKSH Holding AG 4,835 357,497 0.0% * Dufry AG 7,179 1,034,997 0.0% EMS-Chemie Holding AG 1,767 636,351 0.0% # Galenica AG 1,651 1,412,810 0.0% Geberit AG 8,628 2,945,040 0.1% Givaudan SA 2,545 4,250,079 0.1% Holcim, Ltd. 64,411 4,571,539 0.2% Julius Baer Group, Ltd. 62,443 2,737,359 0.1% Kuehne + Nagel International AG 12,141 1,582,337 0.1% Lonza Group AG 12,897 1,421,076 0.0% Nestle SA 676,440 49,606,116 1.6% Novartis AG 316,879 29,407,276 0.9% Novartis AG ADR 87,725 8,131,230 0.3% OC Oerlikon Corp. AG 47,466 600,589 0.0% Partners Group Holding AG 3,610 960,662 0.0% PSP Swiss Property AG 2,517 216,026 0.0% Roche Holding AG(7108918) 5,602 1,595,653 0.1% Roche Holding AG(7110388) 154,264 45,523,518 1.5% Schindler Holding AG 4,306 582,958 0.0% SGS SA 1,254 2,756,946 0.1% Sika AG 763 2,727,437 0.1% Sonova Holding AG 9,165 1,429,106 0.1% Sulzer AG 6,198 706,442 0.0% Swatch Group AG (The)(7184725) 9,378 4,448,566 0.1% Swatch Group AG (The)(7184736) 16,562 1,401,188 0.0% Swiss Life Holding AG 8,430 1,934,185 0.1% Swiss Re AG 97,009 7,844,227 0.3% Swisscom AG 5,947 3,505,881 0.1% Syngenta AG 12,455 3,851,797 0.1% Syngenta AG ADR 37,300 2,312,600 0.1% UBS AG(H89231338) 124,245 2,159,378 0.1% UBS AG(B18YFJ4) 590,475 10,267,258 0.3% Zurich Insurance Group AG 30,463 9,218,971 0.3% ------------ --- TOTAL SWITZERLAND 255,999,569 8.2% ------------ --- UNITED KINGDOM -- (17.2%) Aberdeen Asset Management P.L.C. 277,284 1,928,405 0.1% Admiral Group P.L.C. 38,462 822,977 0.0% Aggreko P.L.C. 86,262 2,104,615 0.1% AMEC P.L.C. 91,482 1,525,383 0.1% Anglo American P.L.C. 381,648 8,057,944 0.3% Antofagasta P.L.C. 135,239 1,523,034 0.1% ARM Holdings P.L.C. 157,970 2,236,440 0.1% ARM Holdings P.L.C. Sponsored ADR 34,545 1,475,417 0.0% Ashmore Group P.L.C. 41,357 211,186 0.0% Ashtead Group P.L.C. 147,132 2,465,084 0.1% Associated British Foods P.L.C. 74,044 3,267,694 0.1% AstraZeneca P.L.C. 135,231 9,878,401 0.3% AstraZeneca P.L.C. Sponsored ADR 119,803 8,738,431 0.3% Aviva P.L.C. 901,605 7,541,251 0.2% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** --------- ----------- --------------- UNITED KINGDOM -- (Continued) Aviva P.L.C. Sponsored ADR 15,032 $ 250,283 0.0% Babcock International Group P.L.C. 156,266 2,742,630 0.1% BAE Systems P.L.C. 858,034 6,318,783 0.2% Barclays P.L.C. 941,718 3,621,771 0.1% # Barclays P.L.C. Sponsored ADR 553,684 8,526,734 0.3% Barratt Developments P.L.C. 239,219 1,608,120 0.1% Berkeley Group Holdings P.L.C. 21,786 796,742 0.0% BG Group P.L.C. 671,968 11,199,040 0.4% BG Group P.L.C. Sponsored ADR 56,914 957,863 0.0% BHP Billiton P.L.C. 174,338 4,504,301 0.1% # BHP Billiton P.L.C. ADR 136,888 7,123,651 0.2% BP P.L.C. 491,728 3,537,934 0.1% BP P.L.C. Sponsored ADR 574,678 24,975,506 0.8% British American Tobacco P.L.C. 312,442 17,708,463 0.6% # British American Tobacco P.L.C. Sponsored ADR 43,359 4,923,848 0.2% British Sky Broadcasting Group P.L.C. 226,364 3,208,088 0.1% British Sky Broadcasting Group P.L.C. Sponsored ADR 647 36,795 0.0% BT Group P.L.C. 1,129,438 6,658,410 0.2% BT Group P.L.C. Sponsored ADR 35,602 2,100,518 0.1% Bunzl P.L.C. 61,814 1,678,586 0.1% Burberry Group P.L.C. 100,767 2,476,204 0.1% Capita P.L.C. 146,637 2,578,159 0.1% Carnival P.L.C. 33,012 1,316,384 0.0% Carnival P.L.C. ADR 19,088 760,466 0.0% Centrica P.L.C. 1,392,690 6,754,508 0.2% Cobham P.L.C. 327,335 1,526,914 0.1% Coca-Cola HBC AG 12,598 274,819 0.0% Compass Group P.L.C. 364,585 5,884,741 0.2% Croda International P.L.C. 24,141 887,576 0.0% Daily Mail & General Trust P.L.C. 23,494 297,281 0.0% Diageo P.L.C. 164,969 4,865,328 0.2% Diageo P.L.C. Sponsored ADR 84,093 9,920,451 0.3% Direct Line Insurance Group P.L.C. 237,104 1,048,867 0.0% Dixons Carphone P.L.C. 186,104 1,181,719 0.0% easyJet P.L.C. 43,766 1,051,651 0.0% Experian P.L.C. 256,622 3,858,605 0.1% Fresnillo P.L.C. 42,695 477,129 0.0% Friends Life Group, Ltd. 369,072 1,914,016 0.1% G4S P.L.C. 526,900 2,156,732 0.1% GKN P.L.C. 532,652 2,721,813 0.1% GlaxoSmithKline P.L.C. 551,788 12,478,114 0.4% GlaxoSmithKline P.L.C. Sponsored ADR 251,446 11,438,278 0.4% Glencore P.L.C. 1,700,077 8,722,473 0.3% Hargreaves Lansdown P.L.C. 36,360 579,369 0.0% Hikma Pharmaceuticals P.L.C. 38,962 1,181,736 0.0% HSBC Holdings P.L.C. 1,656,444 16,888,049 0.5% HSBC Holdings P.L.C. Sponsored ADR 376,440 19,205,968 0.6% ICAP P.L.C. 101,460 681,173 0.0% IMI P.L.C. 56,153 1,099,627 0.0% Imperial Tobacco Group P.L.C. 162,012 7,038,097 0.2% Imperial Tobacco Group P.L.C. ADR 19,700 1,716,264 0.1% Informa P.L.C. 111,055 856,162 0.0% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ---------- ----------- --------------- UNITED KINGDOM -- (Continued) Inmarsat P.L.C. 46,408 $ 509,554 0.0% InterContinental Hotels Group P.L.C. 55,560 2,110,436 0.1% * International Consolidated Airlines Group SA 242,113 1,588,257 0.1% Intertek Group P.L.C. 36,370 1,585,229 0.1% Investec P.L.C. 143,706 1,317,708 0.0% ITV P.L.C. 864,748 2,809,292 0.1% # J Sainsbury P.L.C. 385,985 1,520,611 0.0% John Wood Group P.L.C. 72,050 764,458 0.0% Johnson Matthey P.L.C. 59,496 2,840,447 0.1% * Kazakhmys P.L.C. 51,525 190,093 0.0% Kingfisher P.L.C. 529,673 2,565,982 0.1% Legal & General Group P.L.C. 1,200,837 4,450,646 0.1% * Lloyds Banking Group P.L.C. 10,257,881 12,667,343 0.4% * Lloyds Banking Group P.L.C. ADR 819,492 4,031,901 0.1% London Stock Exchange Group P.L.C. 67,708 2,186,516 0.1% Man Group P.L.C. 323,056 640,547 0.0% Marks & Spencer Group P.L.C. 392,267 2,554,371 0.1% Meggitt P.L.C. 202,577 1,463,296 0.0% Melrose Industries P.L.C. 226,842 932,339 0.0% Mondi P.L.C. 113,521 1,918,558 0.1% National Grid P.L.C. 328,065 4,868,473 0.2% # National Grid P.L.C. Sponsored ADR 70,920 5,275,738 0.2% Next P.L.C. 34,534 3,565,176 0.1% Old Mutual P.L.C. 1,473,967 4,577,515 0.1% Pearson P.L.C. 117,177 2,196,428 0.1% Pearson P.L.C. Sponsored ADR 47,347 887,756 0.0% Pennon Group P.L.C. 63,747 850,660 0.0% Persimmon P.L.C. 76,123 1,787,762 0.1% Petrofac, Ltd. 81,927 1,388,119 0.0% Prudential P.L.C. 330,896 7,662,237 0.2% Prudential P.L.C. ADR 61,265 2,838,407 0.1% Randgold Resources, Ltd. 15,527 908,769 0.0% Reckitt Benckiser Group P.L.C. 128,515 10,823,979 0.3% Reed Elsevier P.L.C. 147,226 2,422,934 0.1% # Reed Elsevier P.L.C. Sponsored ADR 26,688 1,754,469 0.1% Rexam P.L.C. 238,739 1,819,636 0.1% Rio Tinto P.L.C. 162,807 7,746,593 0.2% # Rio Tinto P.L.C. Sponsored ADR 106,931 5,129,480 0.2% Rolls-Royce Holdings P.L.C. 442,168 5,988,933 0.2% * Royal Bank of Scotland Group P.L.C. 390,043 2,425,111 0.1% #* Royal Bank of Scotland Group P.L.C. Sponsored ADR 25,196 313,186 0.0% Royal Dutch Shell P.L.C. ADR(780259107) 236,955 17,693,430 0.6% Royal Dutch Shell P.L.C. ADR(780259206) 214,807 15,420,994 0.5% Royal Dutch Shell P.L.C. Class A(B09CBL4) 45,507 1,627,349 0.1% Royal Dutch Shell P.L.C. Class A(B03MLX2) 82,421 2,944,223 0.1% * RSA Insurance Group P.L.C. 232,475 1,798,809 0.1% SABMiller P.L.C. 165,893 9,383,398 0.3% Sage Group P.L.C. (The) 322,404 1,952,302 0.1% Schroders P.L.C.(0239581) 10,724 330,805 0.0% Schroders P.L.C.(0240549) 23,137 894,764 0.0% Severn Trent P.L.C. 55,956 1,788,550 0.1% Shire P.L.C. 58,511 3,925,908 0.1% LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ---------- -------------- --------------- UNITED KINGDOM -- (Continued) Shire P.L.C. ADR 18,687 $ 3,733,663 0.1% Smith & Nephew P.L.C. 138,654 2,353,696 0.1% Smith & Nephew P.L.C. Sponsored ADR 32,438 1,104,497 0.0% Smiths Group P.L.C. 132,673 2,477,895 0.1% * Sports Direct International P.L.C. 45,572 470,688 0.0% SSE P.L.C. 243,869 6,250,602 0.2% St James's Place P.L.C. 171,610 2,051,992 0.1% Standard Chartered P.L.C. 442,199 6,656,269 0.2% Standard Life P.L.C. 469,495 2,964,663 0.1% Tate & Lyle P.L.C. 102,619 993,156 0.0% Taylor Wimpey P.L.C. 797,030 1,514,007 0.0% Tesco P.L.C. 2,156,365 5,986,042 0.2% Travis Perkins P.L.C. 59,354 1,572,659 0.1% TUI Travel P.L.C. 125,087 799,321 0.0% Tullow Oil P.L.C. 145,530 1,135,714 0.0% Unilever P.L.C. 92,805 3,733,125 0.1% Unilever P.L.C. Sponsored ADR 186,164 7,489,378 0.2% United Utilities Group P.L.C. 143,990 1,973,852 0.1% United Utilities Group P.L.C. ADR 5,177 141,902 0.0% Vedanta Resources P.L.C. 26,516 349,909 0.0% Vodafone Group P.L.C. 1,865,884 6,204,911 0.2% Vodafone Group P.L.C. Sponsored ADR 316,816 10,524,640 0.3% Weir Group P.L.C. (The) 64,499 2,357,364 0.1% Whitbread P.L.C. 42,220 2,951,219 0.1% William Hill P.L.C. 177,809 1,026,837 0.0% WM Morrison Supermarkets P.L.C. 778,938 1,934,018 0.1% Wolseley P.L.C. 59,308 3,153,998 0.1% Wolseley P.L.C. ADR 17,864 96,111 0.0% WPP P.L.C. 217,766 4,253,548 0.1% WPP P.L.C. Sponsored ADR 13,475 1,315,025 0.0% -------------- ---- TOTAL UNITED KINGDOM 567,303,179 18.1% -------------- ---- TOTAL COMMON STOCKS 3,111,265,373 99.5% -------------- ---- PREFERRED STOCKS -- (0.1%) GERMANY -- (0.1%) Porsche Automobil Holding SE 19,267 1,582,057 0.1% -------------- ---- UNITED KINGDOM -- (0.0%) Rolls-Royce Holdings P.L.C. 39,795,120 63,660 0.0% -------------- ---- TOTAL PREFERRED STOCKS 1,645,717 0.1% -------------- ---- RIGHTS/WARRANTS -- (0.0%) FRANCE -- (0.0%) * Groupe Fnac Rights 05/16/15 3 15 0.0% * Peugeot SA Warrants 04/29/17 66,118 100,255 0.0% -------------- ---- TOTAL FRANCE 100,270 0.0% -------------- ---- GERMANY -- (0.0%) #* Rhoen Klinikum AG Rights 11/14/14 14,963 12,601 0.0% -------------- ---- LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ---------- -------------- --------------- SPAIN -- (0.0%) * Banco Santander SA Rights 11/03/14 1,186,768 $ 226,054 0.0% -------------- ----- TOTAL RIGHTS/WARRANTS 338,925 0.0% -------------- ----- VALUE+ -------------- SECURITIES LENDING COLLATERAL -- (5.7%) (S)@ DFA Short Term Investment Fund 16,325,035 188,880,651 6.0% -------------- ----- TOTAL INVESTMENTS -- (100.0%) (Cost $2,750,017,138) $3,302,130,666 105.6% ============== ===== LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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 $ 8,253,899 $ 209,037,006 -- $ 217,290,905 Austria 36,240 7,391,461 -- 7,427,701 Belgium 3,743,401 34,864,227 -- 38,607,628 Canada 306,760,021 -- -- 306,760,021 China -- 3,494 -- 3,494 Denmark 5,265,955 43,753,069 -- 49,019,024 Finland 1,828,828 28,099,939 -- 29,928,767 France 14,281,625 252,296,356 -- 266,577,981 Germany 20,097,451 208,419,941 -- 228,517,392 Hong Kong 942,735 91,172,364 -- 92,115,099 Ireland 2,411,937 8,490,287 -- 10,902,224 Israel 9,386,887 7,062,297 -- 16,449,184 Italy 5,549,475 59,215,853 -- 64,765,328 Japan 41,929,430 573,656,612 -- 615,586,042 Netherlands 13,454,571 65,299,456 -- 78,754,027 New Zealand -- 3,501,854 -- 3,501,854 Norway 2,043,769 24,513,191 -- 26,556,960 Portugal 33,089 4,805,442 -- 4,838,531 Singapore -- 45,340,958 -- 45,340,958 Spain 20,154,651 74,569,984 -- 94,724,635 Sweden 694,698 89,600,172 -- 90,294,870 Switzerland 18,961,389 237,038,180 -- 255,999,569 United Kingdom 179,901,050 387,402,129 -- 567,303,179 Preferred Stocks Germany -- 1,582,057 -- 1,582,057 United Kingdom -- 63,660 -- 63,660 Rights/Warrants France -- 100,270 -- 100,270 Germany -- 12,601 -- 12,601 Spain -- 226,054 -- 226,054 Securities Lending Collateral -- 188,880,651 -- 188,880,651 ------------ -------------- -- -------------- TOTAL $655,731,101 $2,646,399,565 -- $3,302,130,666 ============ ============== == ============== INTERNATIONAL CORE EQUITY PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2014 PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- COMMON STOCKS -- (90.3%) AUSTRALIA -- (6.1%) # Acrux, Ltd. 73,435 $ 70,434 0.0% Adelaide Brighton, Ltd. 1,115,162 3,325,455 0.0% * Aditya Birla Minerals, Ltd. 222,001 45,421 0.0% * AED Oil, Ltd. 237,059 -- 0.0% AGL Energy, Ltd. 292,164 3,502,327 0.0% Ainsworth Game Technology, Ltd. 167,406 449,135 0.0% * AJ Lucas Group, Ltd. 37,498 23,427 0.0% * Alcyone Resources, Ltd. 103,559 68 0.0% * Alkane Resources, Ltd. 65,640 13,053 0.0% # ALS, Ltd. 444,741 2,202,527 0.0% # Altium, Ltd. 56,132 152,164 0.0% * Alumina, Ltd. 3,383,279 4,889,821 0.1% * Alumina, Ltd. Sponsored ADR 468,068 2,663,307 0.0% # Amalgamated Holdings, Ltd. 171,834 1,518,569 0.0% # Amcom Telecommunications, Ltd. 401,019 787,552 0.0% Amcor, Ltd. 593,038 6,159,787 0.1% Amcor, Ltd. Sponsored ADR 30,507 1,265,735 0.0% AMP, Ltd. 3,918,217 20,206,334 0.2% Ansell, Ltd. 153,188 2,687,014 0.0% #* Antares Energy, Ltd. 247,581 93,826 0.0% # AP Eagers, Ltd. 58,625 291,139 0.0% # APA Group 846,825 5,887,407 0.1% * APN News & Media, Ltd. 1,204,518 781,798 0.0% #* Aquarius Platinum, Ltd. 898,617 239,137 0.0% # ARB Corp., Ltd. 83,208 965,218 0.0% # Aristocrat Leisure, Ltd. 635,064 3,610,464 0.0% Arrium, Ltd. 6,412,594 1,903,834 0.0% Asciano, Ltd. 1,482,813 8,202,120 0.1% * ASG Group, Ltd. 155,799 104,385 0.0% ASX, Ltd. 161,346 5,119,075 0.1% * Atlantic, Ltd. 34,067 1,968 0.0% # Atlas Iron, Ltd. 2,011,431 602,091 0.0% Aurizon Holdings, Ltd. 850,424 3,527,315 0.0% # Ausdrill, Ltd. 512,471 277,162 0.0% * Ausenco, Ltd. 234,794 106,191 0.0% # AusNet Services 1,737,695 2,100,700 0.0% * Austal, Ltd. 211,149 238,370 0.0% # Austbrokers Holdings, Ltd. 34,641 311,840 0.0% # Austin Engineering, Ltd. 51,043 51,727 0.0% # Australia & New Zealand Banking Group, Ltd. 1,174,816 34,763,475 0.3% #* Australian Agricultural Co., Ltd. 672,626 831,800 0.0% # Australian Pharmaceutical Industries, Ltd. 476,014 339,224 0.0% Automotive Holdings Group, Ltd. 641,186 2,161,716 0.0% Aveo Group 319,877 583,062 0.0% AVJennings, Ltd. 200,265 111,337 0.0% * AWE, Ltd. 1,224,379 1,897,991 0.0% Bank of Queensland, Ltd. 614,585 6,832,207 0.1% # BC Iron, Ltd. 207,067 196,203 0.0% Beach Energy, Ltd. 3,114,091 3,221,210 0.0% #* Beadell Resources, Ltd. 898,405 201,602 0.0% # Bega Cheese, Ltd. 64,889 295,529 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- AUSTRALIA -- (Continued) # Bendigo & Adelaide Bank Ltd 816,757 $ 8,969,556 0.1% Bentham IMF, Ltd. 12,350 22,326 0.0% BHP Billiton, Ltd. 1,834,078 54,869,794 0.5% # BHP Billiton, Ltd. Sponsored ADR 530,936 31,558,836 0.3% * Billabong International, Ltd. 904,642 527,597 0.0% # Blackmores, Ltd. 4,171 120,346 0.0% * BlueScope Steel, Ltd. 1,080,710 5,038,227 0.1% #* Boart Longyear, Ltd. 770,525 164,281 0.0% * Boom Logistics, Ltd. 320,214 42,663 0.0% Boral, Ltd. 1,535,403 6,743,744 0.1% # Bradken, Ltd. 342,676 1,168,934 0.0% # Brambles, Ltd. 774,709 6,515,949 0.1% # Breville Group, Ltd. 155,462 933,487 0.0% # Brickworks, Ltd. 54,440 650,262 0.0% BT Investment Management, Ltd. 92,429 509,193 0.0% # Cabcharge Australia, Ltd. 303,654 1,324,219 0.0% Caltex Australia, Ltd. 207,374 5,711,736 0.1% # Cardno, Ltd. 196,807 966,477 0.0% * Carnarvon Petroleum, Ltd. 856,412 167,786 0.0% # carsales.com, Ltd. 393,831 3,716,331 0.0% # Cash Converters International, Ltd. 698,478 669,960 0.0% Cedar Woods Properties, Ltd. 15,525 94,571 0.0% * Centrebet International, Ltd. Claim Units 22,005 -- 0.0% Challenger, Ltd. 523,278 3,218,506 0.0% * ChemGenex Pharmaceuticals, Ltd. 6,842 -- 0.0% * Citigold Corp., Ltd. 806,483 9,226 0.0% * Coal of Africa, Ltd. 400,214 18,567 0.0% # Coca-Cola Amatil, Ltd. 484,854 3,912,464 0.0% # Cochlear, Ltd. 63,741 4,131,178 0.0% * Cockatoo Coal, Ltd. 2,245,523 27,552 0.0% # Codan, Ltd. 44,929 31,497 0.0% * Coffey International, Ltd. 136,278 36,297 0.0% # Commonwealth Bank of Australia 466,598 33,179,512 0.3% * Compass Resources, Ltd. 18,720 -- 0.0% Computershare, Ltd. 436,674 4,739,076 0.1% Corporate Travel Management, Ltd. 36,785 292,621 0.0% Coventry Group, Ltd. 13,156 28,499 0.0% # Credit Corp. Group, Ltd. 45,692 388,107 0.0% Crowe Horwath Australasia, Ltd. 240,888 108,592 0.0% # Crown Resorts, Ltd. 167,422 2,147,459 0.0% CSG, Ltd. 86,778 93,409 0.0% CSL, Ltd. 252,812 17,849,256 0.2% # CSR, Ltd. 1,248,691 3,821,780 0.0% * Cue Energy Resources, Ltd. 287,579 24,574 0.0% Data#3, Ltd. 39,367 23,139 0.0% Decmil Group, Ltd. 275,608 432,940 0.0% * Devine, Ltd. 109,847 96,483 0.0% # Domino's Pizza Enterprises, Ltd. 84,201 2,006,910 0.0% Downer EDI, Ltd. 1,091,909 4,610,955 0.1% #* Drillsearch Energy, Ltd. 1,295,436 1,352,769 0.0% DuluxGroup, Ltd. 698,540 3,301,209 0.0% # DWS, Ltd. 57,318 56,807 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- AUSTRALIA -- (Continued) Echo Entertainment Group, Ltd. 1,356,942 $ 4,556,198 0.1% #* Elders, Ltd. 974,226 145,620 0.0% * Emeco Holdings, Ltd. 1,092,630 177,162 0.0% #* Energy Resources of Australia, Ltd. 254,565 285,422 0.0% #* Energy World Corp., Ltd. 1,142,002 354,577 0.0% # Equity Trustees, Ltd. 4,473 76,283 0.0% # ERM Power, Ltd. 188,693 303,094 0.0% #* Eservglobal, Ltd. 76,359 44,126 0.0% Euroz, Ltd. 69,509 69,049 0.0% # Evolution Mining, Ltd. 503,288 265,736 0.0% Fairfax Media, Ltd. 2,330,963 1,675,430 0.0% Fantastic Holdings, Ltd. 975 1,491 0.0% #* FAR, Ltd. 2,438,534 215,209 0.0% Finbar Group, Ltd. 2,330 2,908 0.0% # Fleetwood Corp., Ltd. 83,044 126,943 0.0% # Flight Centre Travel Group, Ltd. 62,946 2,335,597 0.0% * Flinders Mines, Ltd. 166,568 2,913 0.0% * Focus Minerals, Ltd. 5,795,439 50,546 0.0% # Fortescue Metals Group, Ltd. 1,889,453 5,831,490 0.1% Funtastic, Ltd. 204,519 9,650 0.0% G8 Education, Ltd. 52,044 229,966 0.0% Goodman Fielder, Ltd. 3,476,238 1,967,214 0.0% # GrainCorp, Ltd. Class A 363,514 2,811,601 0.0% # Grange Resources, Ltd. 460,396 55,560 0.0% # Greencross, Ltd. 47,454 358,324 0.0% * Gryphon Minerals, Ltd. 427,238 32,392 0.0% # GUD Holdings, Ltd. 239,265 1,514,488 0.0% #* Gunns, Ltd. 1,359,648 -- 0.0% # GWA Group, Ltd. 443,889 1,068,405 0.0% # Harvey Norman Holdings, Ltd. 1,038,443 3,492,051 0.0% HFA Holdings, Ltd. 133,879 163,195 0.0% # Hills, Ltd. 397,600 465,542 0.0% #* Horizon Oil, Ltd. 1,463,538 383,305 0.0% * Icon Energy, Ltd. 357,233 37,800 0.0% # iiNET, Ltd. 252,107 1,779,073 0.0% # Iluka Resources, Ltd. 517,817 3,324,234 0.0% # Imdex, Ltd. 336,336 178,092 0.0% # Incitec Pivot, Ltd. 3,410,549 8,751,790 0.1% Independence Group NL 328,201 1,314,284 0.0% * Indophil Resources NL 172,218 41,839 0.0% #* Infigen Energy 693,403 163,449 0.0% Infomedia, Ltd. 279,619 294,845 0.0% # Insurance Australia Group, Ltd. 3,515,510 20,328,477 0.2% Integrated Research, Ltd. 42,144 36,394 0.0% # Invocare, Ltd. 194,933 2,079,970 0.0% # IOOF Holdings, Ltd. 393,020 3,134,870 0.0% # Iress, Ltd. 183,844 1,599,640 0.0% James Hardie Industries P.L.C. 421,327 4,494,143 0.1% James Hardie Industries P.L.C. Sponsored ADR 8,092 431,546 0.0% # JB Hi-Fi, Ltd. 178,104 2,452,563 0.0% * Kangaroo Resources, Ltd. 157,028 1,382 0.0% #* Kingsgate Consolidated, Ltd. 427,539 272,770 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- AUSTRALIA -- (Continued) * Kingsrose Mining, Ltd. 76,233 $ 24,062 0.0% #* Lednium, Ltd. 21,998 -- 0.0% # Leighton Holdings, Ltd. 104,649 2,037,397 0.0% # Lend Lease Group 547,047 7,629,675 0.1% #* Lonestar Resources, Ltd. 313,294 96,426 0.0% Lycopodium, Ltd. 6,626 9,365 0.0% # M2 Group, Ltd. 249,501 1,731,210 0.0% MACA, Ltd. 121,495 138,746 0.0% #* Macmahon Holdings, Ltd. 1,841,800 160,078 0.0% # Macquarie Atlas Roads Group 175,421 469,474 0.0% # Macquarie Group, Ltd. 232,845 12,583,872 0.1% # Magellan Financial Group, Ltd. 156,272 1,855,116 0.0% * Marion Energy, Ltd. 11,995 116 0.0% * Matrix Composites & Engineering, Ltd. 24,634 19,306 0.0% MaxiTRANS Industries, Ltd. 182,505 98,927 0.0% * Mayne Pharma Group, Ltd. 364,680 243,922 0.0% McMillan Shakespeare, Ltd. 84,891 803,322 0.0% McPherson's, Ltd. 69,593 75,280 0.0% #* Medusa Mining, Ltd. 72,927 38,185 0.0% Melbourne IT, Ltd. 123,857 152,281 0.0% # Mermaid Marine Australia, Ltd. 533,018 872,497 0.0% * Metals X, Ltd. 522,805 95,122 0.0% # Metcash, Ltd. 2,339,171 5,842,246 0.1% Mincor Resources NL 393,519 214,011 0.0% * Mineral Deposits, Ltd. 137,059 164,936 0.0% # Mineral Resources, Ltd. 379,018 2,841,121 0.0% # Monadelphous Group, Ltd. 155,893 1,729,106 0.0% Mortgage Choice, Ltd. 98,654 228,408 0.0% Mount Gibson Iron, Ltd. 1,731,501 688,013 0.0% # Myer Holdings, Ltd. 1,439,887 2,445,264 0.0% * Nanosonics, Ltd. 11,184 9,643 0.0% National Australia Bank, Ltd. 1,331,618 41,194,608 0.4% * Navigator Resources, Ltd. 296 49 0.0% # Navitas, Ltd. 259,731 1,213,785 0.0% #* Nearmap, Ltd. 112,871 68,705 0.0% # New Hope Corp., Ltd. 395,491 782,722 0.0% * Newcrest Mining, Ltd. 523,936 4,297,112 0.0% * Nexus Energy, Ltd. 1,749,892 15,014 0.0% # NIB Holdings, Ltd. 635,487 1,831,405 0.0% Nick Scali, Ltd. 25,854 63,542 0.0% * Northern Iron, Ltd. 51,752 2,312 0.0% # Northern Star Resources, Ltd. 1,067,599 1,029,625 0.0% # NRW Holdings, Ltd. 618,693 414,131 0.0% # Nufarm, Ltd. 446,707 1,948,904 0.0% Oakton, Ltd. 50,767 84,511 0.0% Oil Search, Ltd. 319,924 2,453,081 0.0% * OM Holdings, Ltd. 26,600 10,136 0.0% # Orica, Ltd. 378,362 6,906,710 0.1% Origin Energy, Ltd. 1,168,809 14,683,419 0.1% #* Orocobre, Ltd. 10,062 24,329 0.0% Orora, Ltd. 593,038 907,357 0.0% # OrotonGroup, Ltd. 19,916 66,494 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- AUSTRALIA -- (Continued) * Otto Energy, Ltd. 168,000 $ 14,183 0.0% # OZ Minerals, Ltd. 389,277 1,337,682 0.0% Pacific Brands, Ltd. 2,404,618 999,226 0.0% #* Paladin Energy, Ltd. 1,603,894 459,947 0.0% PanAust, Ltd. 1,110,456 1,683,878 0.0% Panoramic Resources, Ltd. 683,935 364,711 0.0% * PaperlinX, Ltd. 745,156 39,645 0.0% Patties Foods, Ltd. 5,122 5,850 0.0% Peet, Ltd. 239,284 255,297 0.0% # Perpetual, Ltd. 68,090 2,784,028 0.0% #* Perseus Mining, Ltd. 207,324 56,558 0.0% # Platinum Asset Management, Ltd. 233,352 1,354,578 0.0% #* Platinum Australia, Ltd. 400,751 2,116 0.0% * PMP, Ltd. 379,844 161,836 0.0% Premier Investments, Ltd. 215,875 2,048,252 0.0% Primary Health Care, Ltd. 806,983 3,307,044 0.0% * Prime AET&D Holdings No.1, Ltd. 26 -- 0.0% Prime Media Group, Ltd. 291,129 219,230 0.0% Programmed Maintenance Services, Ltd. 238,911 546,934 0.0% * Qantas Airways, Ltd. 3,326,678 4,970,429 0.1% QBE Insurance Group, Ltd. 931,773 9,464,859 0.1% # Qube Holdings, Ltd. 164,726 356,333 0.0% #* Ramelius Resources, Ltd. 501,106 20,726 0.0% # Ramsay Health Care, Ltd. 73,491 3,397,367 0.0% RCR Tomlinson, Ltd. 298,699 717,559 0.0% # REA Group, Ltd. 60,368 2,417,201 0.0% Recall Holdings, Ltd. 70,681 362,546 0.0% # Reckon, Ltd. 51,059 82,291 0.0% #* Red Fork Energy, Ltd. 581,251 11,374 0.0% Redflex Holdings, Ltd. 49,622 50,600 0.0% Reece Australia, Ltd. 10,902 319,565 0.0% * Regional Express Holdings, Ltd. 17,416 15,490 0.0% # Regis Resources, Ltd. 262,244 318,469 0.0% # Reject Shop, Ltd. (The) 58,169 424,385 0.0% #* Resolute Mining, Ltd. 1,041,311 293,233 0.0% # Retail Food Group, Ltd. 73,375 360,263 0.0% Ridley Corp., Ltd. 386,533 299,172 0.0% Rio Tinto, Ltd. 393,946 21,036,048 0.2% * RiverCity Motorway Group 133,238 -- 0.0% * Roc Oil Co., Ltd. 1,316,484 790,493 0.0% SAI Global, Ltd. 580,461 2,101,098 0.0% # Salmat, Ltd. 68,805 83,018 0.0% * Samson Oil & Gas, Ltd. 456,014 7,023 0.0% #* Samson Oil & Gas, Ltd. Sponsored ADR 64,300 19,161 0.0% # Sandfire Resources NL 174,554 866,170 0.0% Santos, Ltd. 879,276 10,075,848 0.1% #* Saracen Mineral Holdings, Ltd. 1,594,391 399,873 0.0% # Sedgman, Ltd. 85,757 37,215 0.0% # Seek, Ltd. 268,147 3,935,023 0.0% # Select Harvests, Ltd. 87,153 483,853 0.0% #* Senex Energy, Ltd. 1,986,224 950,871 0.0% Servcorp, Ltd. 35,568 163,085 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- AUSTRALIA -- (Continued) # Seven Group Holdings, Ltd. 212,792 $ 1,283,673 0.0% Seven West Media, Ltd. 832,826 1,259,252 0.0% Sigma Pharmaceuticals, Ltd. 1,981,263 1,349,870 0.0% #* Silex Systems, Ltd. 70,513 36,095 0.0% # Silver Chef, Ltd. 3,658 19,159 0.0% #* Silver Lake Resources, Ltd. 356,570 86,290 0.0% # Sims Metal Management, Ltd. 524,692 5,238,189 0.1% Sims Metal Management, Ltd. Sponsored ADR 3,500 34,254 0.0% * Sino Strategic International, Ltd. 9,056 -- 0.0% Sirtex Medical, Ltd. 81,247 1,865,675 0.0% Skilled Group, Ltd. 471,543 962,920 0.0% Slater & Gordon, Ltd. 154,452 834,499 0.0% SMS Management & Technology, Ltd. 206,073 716,045 0.0% # Sonic Healthcare, Ltd. 228,492 3,781,256 0.0% # Southern Cross Media Group, Ltd. 1,049,519 905,075 0.0% Spark Infrastructure Group 2,555,958 4,296,525 0.0% Specialty Fashion Group, Ltd. 67,582 49,521 0.0% #* St Barbara, Ltd. 851,056 82,382 0.0% * Starpharma Holdings, Ltd. 66,312 36,353 0.0% #* Straits Resources, Ltd. 233,593 1,050 0.0% STW Communications Group, Ltd. 917,644 917,146 0.0% Suncorp Group, Ltd. 1,366,963 17,787,231 0.2% * Sundance Energy Australia, Ltd. 816,273 839,773 0.0% # Sunland Group, Ltd. 162,346 242,717 0.0% # Super Retail Group, Ltd. 352,275 2,285,848 0.0% Swick Mining Services, Ltd. 139,495 32,853 0.0% # Sydney Airport 437,613 1,701,321 0.0% # Tabcorp Holdings, Ltd. 1,898,885 6,821,113 0.1% * Tap Oil, Ltd. 383,218 207,678 0.0% Tassal Group, Ltd. 223,497 725,979 0.0% Tatts Group, Ltd. 2,910,224 8,908,446 0.1% # Technology One, Ltd. 347,100 1,024,864 0.0% # Telstra Corp., Ltd. 834,859 4,154,386 0.0% # Telstra Corp., Ltd. ADR 36,500 905,200 0.0% #* Ten Network Holdings, Ltd. 4,160,714 813,364 0.0% # TFS Corp., Ltd. 311,704 432,031 0.0% Thorn Group, Ltd. 33,773 75,611 0.0% * Tiger Resources, Ltd. 1,161,635 264,580 0.0% Toll Holdings, Ltd. 1,669,448 8,364,285 0.1% Tox Free Solutions, Ltd. 295,626 634,149 0.0% # TPG Telecom, Ltd. 426,055 2,758,690 0.0% * Transfield Services, Ltd. 1,153,941 1,948,156 0.0% Transpacific Industries Group, Ltd. 3,105,350 2,468,050 0.0% Transurban Group 718,219 5,143,814 0.1% Treasury Group, Ltd. 337 3,088 0.0% Treasury Wine Estates, Ltd. 1,234,499 5,040,409 0.1% #* UGL, Ltd. 219,150 1,355,539 0.0% # UXC, Ltd. 456,869 338,957 0.0% # Village Roadshow, Ltd. 126,515 783,675 0.0% * Virgin Australia Holdings, Ltd. (ACI01NXR8) 3,195,173 -- 0.0% #* Virgin Australia Holdings, Ltd. (B43DQC7) 3,442,482 1,167,639 0.0% Vision Eye Institute, Ltd. 4,567 3,027 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- AUSTRALIA -- (Continued) Vocus Communications, Ltd. 116,379 $ 607,147 0.0% # Washington H Soul Pattinson & Co., Ltd. 143,653 1,798,372 0.0% Watpac, Ltd. 146,701 108,266 0.0% WDS, Ltd. 74,726 16,028 0.0% # Webjet, Ltd. 74,831 226,194 0.0% Webster, Ltd. 17,208 17,290 0.0% # Wesfarmers, Ltd. 565,149 21,994,300 0.2% # Western Areas, Ltd. 380,343 1,458,801 0.0% # Westpac Banking Corp. 980,394 30,092,469 0.3% # Westpac Banking Corp. Sponsored ADR 262,300 8,031,626 0.1% #* Whitehaven Coal, Ltd. 221,106 296,531 0.0% Wide Bay Australia, Ltd. 23,761 111,219 0.0% Woodside Petroleum, Ltd. 388,910 13,814,216 0.1% # Woolworths, Ltd. 293,836 9,325,049 0.1% # WorleyParsons, Ltd. 232,987 2,780,876 0.0% # Wotif.com Holdings, Ltd. 87,115 232,974 0.0% -------------------- ------------------ TOTAL AUSTRALIA 825,693,334 6.7% -------------------- ------------------ AUSTRIA -- (0.4%) * A-TEC Industries AG 19,046 -- 0.0% Agrana Beteiligungs AG 3,302 298,055 0.0% AMAG Austria Metall AG 806 25,738 0.0% Andritz AG 69,976 3,381,538 0.0% Atrium European Real Estate, Ltd. 123,891 648,965 0.0% Austria Technologie & Systemtechnik AG 24,196 280,427 0.0% BUWOG AG 30,009 554,791 0.0% CA Immobilien Anlagen AG 47,864 918,058 0.0% # Conwert Immobilien Invest SE 100,986 1,119,941 0.0% DO & CO AG 2,302 139,206 0.0% Erste Group Bank AG 225,914 5,764,766 0.1% EVN AG 49,525 627,442 0.0% # Flughafen Wien AG 22,589 2,074,665 0.0% Frauenthal Holding AG 70 817 0.0% * IMMOFINANZ AG 335,690 1,016,272 0.0% #* Kapsch TrafficCom AG 3,172 66,806 0.0% # Lenzing AG 22,260 1,284,529 0.0% Mayr Melnhof Karton AG 15,663 1,680,966 0.0% Oberbank AG 2,295 144,522 0.0% Oesterreichische Post AG 58,189 2,839,926 0.0% OMV AG 240,767 7,568,038 0.1% Palfinger AG 7,182 167,368 0.0% POLYTEC Holding AG 16,082 132,712 0.0% Raiffeisen Bank International AG 173,994 3,725,528 0.1% RHI AG 39,394 1,009,868 0.0% # Rosenbauer International AG 1,710 156,029 0.0% S IMMO AG 81,476 627,484 0.0% # Schoeller-Bleckmann Oilfield Equipment AG 16,334 1,407,678 0.0% Semperit AG Holding 19,172 949,600 0.0% Strabag SE 41,831 905,323 0.0% Telekom Austria AG ADR 4,200 63,420 0.0% UNIQA Insurance Group AG 86,815 968,025 0.0% # Verbund AG 68,196 1,380,025 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- AUSTRIA -- (Continued) Vienna Insurance Group AG Wiener Versicherung Gruppe 43,607 $ 2,099,277 0.0% Voestalpine AG 139,457 5,586,355 0.1% Wienerberger AG 285,913 3,457,461 0.0% * Wolford AG 1,281 31,289 0.0% Zumtobel Group AG 55,974 987,098 0.0% -------------------- ------------------ TOTAL AUSTRIA 54,090,008 0.4% -------------------- ------------------ BELGIUM -- (1.3%) * Ablynx NV 34,801 347,983 0.0% Ackermans & van Haaren NV 64,560 8,051,105 0.1% Ageas 381,507 12,752,983 0.1% * AGFA-Gevaert NV 475,579 1,199,849 0.0% Anheuser-Busch InBev NV 322,414 35,753,896 0.3% # Anheuser-Busch InBev NV Sponsored ADR 121,204 13,451,220 0.1% Arseus NV 49,191 1,962,346 0.0% Atenor Group 43 1,980 0.0% Banque Nationale de Belgique 320 1,303,629 0.0% Barco NV 27,489 2,026,838 0.0% Belgacom SA 381,950 14,425,692 0.1% Cie d'Entreprises CFE 20,722 2,240,979 0.0% Cie Immobiliere de Belgique SA 2,277 119,856 0.0% Cie Maritime Belge SA 22,058 432,010 0.0% # Colruyt SA 75,855 3,454,831 0.1% D'ieteren SA 32,829 1,188,722 0.0% Deceuninck NV 136,124 337,949 0.0% Delhaize Group SA 125,318 8,568,600 0.1% Delhaize Group SA Sponsored ADR 252,036 4,294,694 0.1% Econocom Group SA 90,340 583,922 0.0% Elia System Operator SA 47,621 2,362,257 0.0% #* Euronav NV 86,591 918,987 0.0% # EVS Broadcast Equipment SA 11,327 367,110 0.0% Exmar NV 79,186 1,106,924 0.0% * Hamon & CIE SA 743 9,688 0.0% * Ion Beam Applications 33,269 581,184 0.0% Jensen-Group NV 2,121 39,826 0.0% * KBC Groep NV 207,752 11,159,553 0.1% Kinepolis Group NV 56,685 2,270,624 0.0% Lotus Bakeries 107 124,848 0.0% #* MDxHealth 4,082 19,176 0.0% Melexis NV 33,075 1,510,285 0.0% * Mobistar SA 89,520 1,919,540 0.0% # NV Bekaert SA 78,163 2,457,281 0.0% #* Nyrstar NV 849,458 2,866,959 0.0% * Picanol 688 22,737 0.0% * RealDolmen NV/SA 1,807 42,972 0.0% Recticel SA 71,271 543,783 0.0% # Resilux 424 56,183 0.0% * Roularta Media Group NV 4,380 65,895 0.0% * Sapec 190 6,711 0.0% Sioen Industries NV 18,346 259,021 0.0% # Sipef SA 10,557 732,689 0.0% Solvay SA 115,045 15,705,907 0.2% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- BELGIUM -- (Continued) * Telenet Group Holding NV 52,542 $ 2,972,922 0.0% #* Tessenderlo Chemie NV 52,129 1,352,417 0.0% #* ThromboGenics NV 4,877 42,871 0.0% UCB SA 91,641 7,390,505 0.1% Umicore SA 208,338 8,176,948 0.1% Van de Velde NV 13,313 616,910 0.0% * Viohalco SA 176,559 569,670 0.0% -------------------- ------------------ TOTAL BELGIUM 178,771,467 1.5% -------------------- ------------------ CANADA -- (8.4%) #* 5N Plus, Inc. 163,492 351,050 0.0% Absolute Software Corp. 87,863 552,725 0.0% # Acadian Timber Corp. 400 5,057 0.0% * Advantage Oil & Gas, Ltd. 552,179 2,366,376 0.0% # AG Growth International, Inc. 26,378 1,093,457 0.0% AGF Management, Ltd. Class B 233,242 2,119,159 0.0% * AgJunction, Inc. 46,880 25,373 0.0% Agnico Eagle Mines, Ltd.(2009823) 146,426 3,450,669 0.0% Agnico Eagle Mines, Ltd.(008474108) 39,852 936,522 0.0% Agrium, Inc.(2213538) 90,792 8,883,043 0.1% # Agrium, Inc.(008916108) 119,200 11,660,144 0.1% AGT Food & Ingredient, Inc. 43,951 1,079,813 0.0% Aimia, Inc. 176,807 2,549,234 0.0% * Air Canada Class A 69,620 580,038 0.0% Akita Drilling, Ltd. Class A 11,400 139,889 0.0% # Alacer Gold Corp. 436,084 723,550 0.0% * Alamos Gold, Inc.(011527108) 118,640 886,241 0.0% Alamos Gold, Inc.(2411707) 144,442 1,077,820 0.0% #* Alexco Resource Corp. 70,276 34,918 0.0% Algoma Central Corp. 11,860 169,000 0.0% # Algonquin Power & Utilities Corp. 408,113 3,331,387 0.0% Alimentation Couche-Tard, Inc. Class B 232,059 7,875,655 0.1% # AltaGas, Ltd. 76,505 3,156,455 0.0% #* Alterra Power Corp. 170,495 48,408 0.0% # Altus Group, Ltd. 60,526 1,173,411 0.0% #* Alumasc Group P.L.C. (The) 134,429 310,115 0.0% #* Alvopetro Energy, Ltd. 182,934 77,910 0.0% #* Amaya Gaming Group, Inc. 32,500 987,645 0.0% * Amerigo Resources, Ltd. 153,100 48,224 0.0% Amica Mature Lifestyles, Inc. 2,500 15,993 0.0% * Anderson Energy, Ltd. 116,562 23,270 0.0% Andrew Peller, Ltd. Class A 2,000 26,512 0.0% # ARC Resources, Ltd. 202,340 4,771,924 0.1% #* Argonaut Gold, Inc. 286,755 610,631 0.0% Arsenal Energy, Inc. 21,692 159,552 0.0% #* Artek Exploration, Ltd. 117,468 268,903 0.0% Atco, Ltd. Class I 81,768 3,322,811 0.0% #* Athabasca Oil Corp. 912,965 2,956,676 0.0% * ATS Automation Tooling Systems, Inc. 121,349 1,518,141 0.0% AuRico Gold, Inc.(05155C105) 18,902 60,675 0.0% # AuRico Gold, Inc.(2287317) 642,892 2,059,217 0.0% AutoCanada, Inc. 36,342 2,018,552 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- CANADA -- (Continued) #* Avigilon Corp. 72,942 $ 1,008,975 0.0% Axia NetMedia Corp. 50,400 119,846 0.0% #* B2Gold Corp. 1,338,589 2,232,863 0.0% Badger Daylighting, Ltd. 74,650 1,834,043 0.0% #* Ballard Power Systems, Inc. 162,070 454,409 0.0% # Bank of Montreal(2076009) 293,912 21,313,542 0.2% Bank of Montreal(063671101) 9,702 704,365 0.0% Bank of Nova Scotia (The)(064149107) 278,603 17,078,364 0.2% Bank of Nova Scotia (The)(2076281) 270,575 16,569,881 0.2% * Bankers Petroleum, Ltd. 956,978 3,676,602 0.0% Barrick Gold Corp.(067901108) 621,876 7,381,668 0.1% Barrick Gold Corp.(2024644) 334,594 3,972,200 0.0% # Baytex Energy Corp.(B4VGVM3) 34,578 1,056,622 0.0% # Baytex Energy Corp.(07317Q105) 71,125 2,172,869 0.0% BCE, Inc.(B188TH2) 64,386 2,859,251 0.0% BCE, Inc.(05534B760) 19,439 864,452 0.0% * Bellatrix Exploration, Ltd. 221,708 1,036,690 0.0% * Birch Mountain Resources, Ltd. 1,200 -- 0.0% #* Birchcliff Energy, Ltd. 333,018 2,576,564 0.0% # Bird Construction, Inc. 33,293 397,903 0.0% # Black Diamond Group, Ltd. 95,917 1,638,261 0.0% #* BlackBerry, Ltd.(09228F103) 368,707 3,871,423 0.0% #* BlackBerry, Ltd.(BCBHZ31) 251,190 2,638,827 0.0% * BlackPearl Resources, Inc. 468,460 673,355 0.0% # BMTC Group, Inc. Class A 1,600 22,004 0.0% #* BNK Petroleum, Inc. 194,022 91,240 0.0% # Bombardier, Inc. Class A 25,790 86,268 0.0% # Bombardier, Inc. Class B 793,391 2,611,668 0.0% # Bonavista Energy Corp. 326,259 3,065,599 0.0% # Bonterra Energy Corp. 76,299 3,430,256 0.0% Boralex, Inc. Class A 68,265 796,491 0.0% Brookfield Asset Management, Inc. Class A 116,460 5,700,810 0.1% * Brookfield Residential Properties, Inc.(B4NHCK9) 29,500 685,875 0.0% * Brookfield Residential Properties, Inc.(B54FPW2) 3,827 89,032 0.0% #* BRP, Inc. 27,194 592,354 0.0% Bumi Serpong Damai Tbk PT 192,523 2,502,517 0.0% CAE, Inc.(2162760) 198,315 2,540,853 0.0% CAE, Inc.(124765108) 15,136 195,557 0.0% Caledonia Mining Corp. 8,300 6,112 0.0% Calfrac Well Services, Ltd. 158,903 1,903,368 0.0% Calian Technologies, Ltd. 3,277 53,936 0.0% Calvalley Petroleum, Inc. Class A 28,165 30,738 0.0% Cameco Corp.(13321L108) 98,075 1,704,543 0.0% Cameco Corp.(2166160) 176,782 3,069,628 0.0% # Canaccord Genuity Group, Inc. 379,070 3,208,664 0.0% * Canacol Energy, Ltd. 53,284 182,019 0.0% # Canadian Energy Services & Technology Corp. 278,320 2,148,426 0.0% # Canadian Imperial Bank of Commerce(2170525) 97,155 8,869,418 0.1% # Canadian Imperial Bank of Commerce(136069101) 20,061 1,832,572 0.0% Canadian National Railway Co.(2180632) 108,800 7,670,687 0.1% Canadian National Railway Co.(136375102) 80,315 5,668,633 0.1% Canadian Natural Resources, Ltd.(136385101) 710,664 24,787,960 0.2% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- CANADA -- (Continued) Canadian Natural Resources, Ltd.(2171573) 498,445 $ 17,393,942 0.2% Canadian Oil Sands, Ltd. 758,331 11,882,459 0.1% Canadian Pacific Railway, Ltd.(2793115) 38,902 8,091,740 0.1% Canadian Pacific Railway, Ltd.(13645T100) 1,271 263,961 0.0% # Canadian Tire Corp., Ltd. Class A 92,715 10,165,292 0.1% Canadian Utilities, Ltd. Class A 64,764 2,238,770 0.0% # Canadian Western Bank 117,378 3,931,520 0.0% Canam Group, Inc. Class A 101,372 881,457 0.0% CanElson Drilling, Inc. 276,923 1,353,840 0.0% # Canexus Corp. 130,004 446,400 0.0% * Canfor Corp. 148,039 3,446,647 0.0% Canfor Pulp Products, Inc. 108,415 1,212,039 0.0% # CanWel Building Materials Group, Ltd. 25,250 139,351 0.0% Canyon Services Group, Inc. 89,058 860,513 0.0% Capital Power Corp. 152,524 3,461,749 0.0% # Capstone Infrastructure Corp. 241,892 916,445 0.0% * Capstone Mining Corp. 356,952 668,266 0.0% Cascades, Inc. 207,490 1,154,308 0.0% * Catamaran Corp.(B3N9ZT8) 90,035 4,291,968 0.1% * Catamaran Corp.(B8J4N87) 38,400 1,829,626 0.0% # Cathedral Energy Services, Ltd. 45,147 124,579 0.0% CCL Industries, Inc. Class B 42,600 4,306,680 0.1% * Celestica, Inc. 379,388 4,167,360 0.1% Cenovus Energy, Inc.(B57FG04) 160,717 3,977,106 0.1% Cenovus Energy, Inc.(15135U109) 183,427 4,541,653 0.1% Centerra Gold, Inc. 425,878 1,662,627 0.0% #* Cequence Energy, Ltd. 488,454 619,750 0.0% Cervus Equipment Corp. 2,531 41,208 0.0% #* CGI Group, Inc. Class A(2159740) 131,886 4,527,456 0.1% * CGI Group, Inc. Class A(39945C109) 44,610 1,532,354 0.0% #* China Gold International Resources Corp., Ltd. 188,500 361,262 0.0% #* Chinook Energy, Inc. 102,170 141,418 0.0% CI Financial Corp. 73,200 2,128,356 0.0% # Cineplex, Inc. 65,667 2,473,910 0.0% Clairvest Group, Inc. 516 11,560 0.0% # Clarke, Inc. 16,200 140,432 0.0% * Claude Resources, Inc. 262,411 51,223 0.0% Clearwater Seafoods, Inc. 16,695 166,054 0.0% Cogeco Cable, Inc. 83,871 4,573,632 0.1% Cogeco, Inc. 2,698 135,804 0.0% Colabor Group, Inc. 27,021 84,871 0.0% # COM DEV International, Ltd. 207,478 681,131 0.0% Computer Modelling Group, Ltd. 71,046 738,165 0.0% #* Connacher Oil and Gas, Ltd. 783,434 69,512 0.0% Constellation Software, Inc. 21,024 5,922,648 0.1% Contrans Group, Inc. Class A 41,607 551,167 0.0% #* Copper Mountain Mining Corp. 407,915 756,437 0.0% Corby Spirit and Wine, Ltd. 12,085 225,391 0.0% #* Corridor Resources, Inc. 89,500 114,352 0.0% # Corus Entertainment, Inc. Class B 244,399 4,497,436 0.1% Cott Corp.(22163N106) 14,547 88,300 0.0% Cott Corp.(2228952) 174,549 1,057,779 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- CANADA -- (Continued) # Crescent Point Energy Corp.(B67C8W8) 151,938 $ 5,021,685 0.1% Crescent Point Energy Corp.(22576C101) 10,001 330,333 0.0% * Crew Energy, Inc. 345,337 2,157,111 0.0% * DeeThree Exploration, Ltd. 280,902 1,602,591 0.0% * Delphi Energy Corp. 393,993 737,612 0.0% #* Denison Mines Corp. 952,928 896,237 0.0% * Descartes Systems Group, Inc. (The) 61,729 870,850 0.0% # DH Corp. 156,257 4,991,129 0.1% * DHX Media, Ltd. 53,331 473,664 0.0% # DirectCash Payments, Inc. 21,247 299,745 0.0% Dollarama, Inc. 32,862 2,887,179 0.0% * Dominion Diamond Corp.(257287102) 123,692 1,732,925 0.0% * Dominion Diamond Corp.(B95LX89) 110,079 1,540,256 0.0% Dorel Industries, Inc. Class B 78,079 2,426,092 0.0% #* DragonWave, Inc. 43,606 46,428 0.0% #* Dundee Precious Metals, Inc. 222,307 633,162 0.0% E-L Financial Corp., Ltd. 88 53,875 0.0% * Eastern Platinum, Ltd. 85,952 66,349 0.0% easyhome, Ltd. 500 10,403 0.0% EGI Financial Holdings, Inc. 900 9,487 0.0% # Eldorado Gold Corp.(284902103) 220,295 1,207,217 0.0% Eldorado Gold Corp.(2307873) 1,236,524 6,758,341 0.1% # Emera, Inc. 37,182 1,250,012 0.0% Empire Co., Ltd. 47,838 3,309,462 0.0% # Enbridge Income Fund Holdings, Inc. 109,808 2,893,658 0.0% Enbridge, Inc.(2466149) 111,774 5,288,947 0.1% Enbridge, Inc.(29250N105) 50,519 2,392,580 0.0% Encana Corp.(2793193) 219,990 4,099,011 0.1% # Encana Corp.(292505104) 291,754 5,435,377 0.1% * Endeavour Mining Corp. 1,003,561 427,407 0.0% #* Endeavour Silver Corp. 206,485 630,237 0.0% Enerflex, Ltd. 46,881 669,699 0.0% #* Energy Fuels, Inc. 7,838 47,361 0.0% Enerplus Corp.(292766102) 240,910 3,445,013 0.0% # Enerplus Corp.(B584T89) 177,287 2,538,851 0.0% Enghouse Systems, Ltd. 28,177 946,525 0.0% Ensign Energy Services, Inc. 278,625 3,144,590 0.0% #* Epsilon Energy, Ltd. 126,315 411,318 0.0% Equitable Group, Inc. 13,470 781,393 0.0% * Equity Financial Holdings, Inc. 100 753 0.0% #* Essential Energy Services Trust 254,556 456,238 0.0% Evertz Technologies, Ltd. 32,238 485,980 0.0% * Excellon Resources, Inc. 16,100 11,714 0.0% # Exchange Income Corp. 19,622 334,969 0.0% Exco Technologies, Ltd. 11,223 109,238 0.0% #* EXFO, Inc. 31,042 115,404 0.0% # Extendicare, Inc. 176,138 1,275,264 0.0% Fairfax Financial Holdings, Ltd. 19,885 9,085,119 0.1% Fiera Capital Corp. 12,100 138,602 0.0% Finning International, Inc. 343,962 8,880,967 0.1% First Capital Realty, Inc. 103,766 1,694,984 0.0% #* First Majestic Silver Corp.(2833583) 114,673 588,093 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- CANADA -- (Continued) #* First Majestic Silver Corp.(32076V103) 131,078 $ 672,430 0.0% First National Financial Corp. 278 5,747 0.0% First Quantum Minerals, Ltd. 539,408 8,136,230 0.1% FirstService Corp.(33761N109) 8,511 449,125 0.0% FirstService Corp.(2350231) 13,406 708,452 0.0% # Fortis, Inc. 84,328 2,747,459 0.0% #* Fortress Paper, Ltd. Class A 20,464 37,767 0.0% * Fortuna Silver Mines, Inc. 234,774 812,403 0.0% * Fraser Papers, Inc. 6,400 -- 0.0% Gamehost, Inc. 1,178 17,403 0.0% * GBS Gold International, Inc. 42,400 -- 0.0% # Genworth MI Canada, Inc. 114,409 3,999,569 0.1% George Weston, Ltd. 83,855 6,850,955 0.1% # Gibson Energy, Inc. 201,222 5,852,497 0.1% Gildan Activewear, Inc. 84,300 5,021,873 0.1% # Glacier Media, Inc. 22,700 33,636 0.0% # GLENTEL, Inc. 9,100 81,065 0.0% Gluskin Sheff + Associates, Inc. 73,705 1,925,270 0.0% * GLV, Inc. Class A 12,023 24,536 0.0% GMP Capital, Inc. 112,200 664,011 0.0% Goldcorp, Inc.(2676302) 173,996 3,265,175 0.0% Goldcorp, Inc.(380956409) 232,636 4,368,904 0.1% #* Golden Star Resources, Ltd. 423,301 120,187 0.0% * Gran Tierra Energy, Inc.(38500T101) 55,835 254,608 0.0% * Gran Tierra Energy, Inc.(B2PPCS5) 641,723 2,926,628 0.0% * Great Canadian Gaming Corp. 93,463 1,695,030 0.0% #* Great Panther Silver, Ltd. 98,337 68,929 0.0% Great-West Lifeco, Inc. 117,900 3,303,564 0.0% * Heroux-Devtek, Inc. 37,512 338,159 0.0% High Liner Foods, Inc. 20,305 396,894 0.0% # HNZ Group, Inc. 6,940 122,353 0.0% Home Capital Group, Inc. 55,600 2,664,932 0.0% # Horizon North Logistics, Inc. 208,556 588,446 0.0% HudBay Minerals, Inc.(B05BQ98) 20,193 154,880 0.0% HudBay Minerals, Inc.(B05BDX1) 556,220 4,259,064 0.1% # Hudson's Bay Co. 96,411 1,673,217 0.0% # Husky Energy, Inc. 366,599 8,850,680 0.1% * IAMGOLD Corp.(450913108) 214,417 405,248 0.0% * IAMGOLD Corp.(2446646) 792,408 1,504,594 0.0% # IGM Financial, Inc. 42,700 1,707,924 0.0% #* Imax Corp.(2014258) 45,620 1,343,443 0.0% #* Imax Corp.(45245E109) 50,554 1,489,321 0.0% #* Imperial Metals Corp. 71,919 608,126 0.0% Imperial Oil, Ltd.(2454241) 39,803 1,915,192 0.0% # Imperial Oil, Ltd.(453038408) 87,681 4,198,166 0.1% * Imris, Inc. 14,500 4,889 0.0% # Indigo Books & Music, Inc. 5,523 62,039 0.0% # Industrial Alliance Insurance & Financial Services, Inc. 184,166 7,421,871 0.1% # Innergex Renewable Energy, Inc. 204,783 2,004,132 0.0% Intact Financial Corp. 94,112 6,310,318 0.1% # Inter Pipeline, Ltd. 76,148 2,399,197 0.0% * Interfor Corp. 179,045 2,722,888 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- CANADA -- (Continued) Intertape Polymer Group, Inc. 108,784 $ 1,593,562 0.0% * Ithaca Energy, Inc. 640,663 818,557 0.0% #* Ivanhoe Energy, Inc. 8,552 9,637 0.0% Jean Coutu Group PJC, Inc. (The) Class A 86,000 1,971,732 0.0% Just Energy Group, Inc.(B693818) 6,432 31,324 0.0% # Just Energy Group, Inc.(B63MCN1) 191,645 933,527 0.0% # K-Bro Linen, Inc. 3,855 135,449 0.0% #* Katanga Mining, Ltd. 525,231 181,749 0.0% * Kelt Exploration, Ltd. 31,250 263,132 0.0% Keyera Corp. 69,802 5,552,946 0.1% # Killam Properties, Inc. 129,704 1,270,513 0.0% * Kingsway Financial Services, Inc. 15,975 103,471 0.0% * Kinross Gold Corp.(496902404) 52,598 113,086 0.0% * Kinross Gold Corp.(B03Z841) 1,428,538 3,054,680 0.0% #* Kirkland Lake Gold, Inc. 31,312 97,238 0.0% * Knight Therapeutics, Inc. 11,933 61,621 0.0% #* Lake Shore Gold Corp. 1,179,529 858,182 0.0% Laurentian Bank of Canada 115,546 5,082,978 0.1% * Legacy Oil + Gas, Inc. 365,814 1,489,806 0.0% # Leisureworld Senior Care Corp. 65,673 825,683 0.0% Leon's Furniture, Ltd. 36,579 466,710 0.0% * Leucrotta Exploration, Inc. 216,823 323,200 0.0% # Lightstream Resources, Ltd. 567,737 1,501,136 0.0% Linamar Corp. 101,372 5,178,107 0.1% # Liquor Stores N.A., Ltd. 41,250 475,800 0.0% Loblaw Cos., Ltd. 101,038 5,264,123 0.1% # Long Run Exploration, Ltd. 486,927 1,378,197 0.0% Lucara Diamond Corp. 489,944 991,147 0.0% * Lundin Mining Corp. 509,154 2,272,343 0.0% MacDonald Dettwiler & Associates, Ltd. 38,317 2,921,754 0.0% Magellan Aerospace Corp. 23,337 256,137 0.0% Magna International, Inc. 160,425 15,833,971 0.1% * Mainstreet Equity Corp. 5,682 205,642 0.0% # Major Drilling Group International, Inc. 154,468 901,823 0.0% Mandalay Resources Corp. 608,769 518,538 0.0% # Manitoba Telecom Services, Inc. 93,264 2,458,519 0.0% # Manulife Financial Corp.(56501R106) 385,190 7,307,054 0.1% # Manulife Financial Corp.(2492519) 581,659 11,039,161 0.1% Maple Leaf Foods, Inc. 261,443 4,523,436 0.1% Martinrea International, Inc. 321,952 3,413,625 0.0% #* Maxim Power Corp. 24,537 56,605 0.0% # McCoy Global, Inc. 1,600 6,786 0.0% # Mediagrif Interactive Technologies, Inc. 1,100 17,568 0.0% # Medical Facilities Corp. 51,969 830,914 0.0% * MEG Energy Corp. 125,582 3,030,771 0.0% Melcor Developments, Ltd. 900 19,652 0.0% * Mercator Minerals, Ltd. 131,933 -- 0.0% # Methanex Corp. 127,300 7,565,373 0.1% Metro, Inc. 147,587 10,371,226 0.1% #* Migao Corp. 61,406 79,546 0.0% * Mitel Networks Corp. 79,807 744,215 0.0% #* Mood Media Corp. 78,868 37,788 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- CANADA -- (Continued) Morneau Shepell, Inc. 91,214 $ 1,346,702 0.0% # MTY Food Group, Inc. 5,139 149,512 0.0% # Mullen Group, Ltd. 271,456 5,274,732 0.1% * NAPEC, Inc. 9,700 7,402 0.0% National Bank of Canada 425,765 19,900,892 0.2% # Nevsun Resources, Ltd. 469,543 1,587,293 0.0% # New Flyer Industries, Inc. 54,503 628,667 0.0% * New Gold, Inc. 950,515 3,449,365 0.0% * New Millennium Iron Corp. 65,755 10,502 0.0% Newalta Corp. 134,332 2,425,497 0.0% #* Niko Resources, Ltd. 91,915 25,282 0.0% # Norbord, Inc. 72,816 1,424,598 0.0% North American Energy Partners, Inc.(B1HTYS2) 17,176 91,744 0.0% North American Energy Partners, Inc.(656844107) 6,310 34,137 0.0% #* North American Palladium, Ltd. 239,959 38,324 0.0% North West Co., Inc. (The) 95,892 1,982,417 0.0% # Northland Power, Inc. 172,535 2,567,244 0.0% #* Novagold Resources, Inc. 145,071 356,547 0.0% * NuVista Energy, Ltd. 298,110 2,742,914 0.0% #* OceanaGold Corp. 814,502 1,329,740 0.0% Onex Corp. 76,987 4,343,732 0.1% Open Text Corp. 98,000 5,412,803 0.1% * Orvana Minerals Corp. 23,324 6,312 0.0% #* Osisko Gold Royalties, Ltd. 85,851 1,072,517 0.0% Pacific Rubiales Energy Corp. 789,984 11,915,823 0.1% * Painted Pony Petroleum, Ltd. 199,813 1,893,441 0.0% Pan American Silver Corp.(697900108) 8,535 78,778 0.0% Pan American Silver Corp.(2669272) 274,903 2,541,584 0.0% * Paramount Resources, Ltd. Class A 37,466 1,569,040 0.0% * Parex Resources, Inc. 374,714 3,434,449 0.0% # Parkland Fuel Corp. 135,911 2,659,010 0.0% # Pason Systems, Inc. 125,981 3,014,691 0.0% * Pembina Pipeline Corp.(B4PPQG5) 13,562 562,009 0.0% # Pembina Pipeline Corp.(B4PT2P8) 82,399 3,418,641 0.0% # Pengrowth Energy Corp. 993,443 4,010,617 0.1% Penn West Petroleum, Ltd.(707887105) 160,620 726,002 0.0% # Penn West Petroleum, Ltd.(B63FY34) 644,148 2,914,826 0.0% * Performance Sports Group, Ltd. 33,694 582,967 0.0% #* Perpetual Energy, Inc. 168,529 209,344 0.0% # Peyto Exploration & Development Corp. 137,590 3,883,350 0.0% # PHX Energy Services Corp. 90,742 943,611 0.0% #* Pilot Gold, Inc. 10,300 7,037 0.0% #* Points International, Ltd. 6,420 95,982 0.0% * Polaris Minerals Corp. 7,200 14,054 0.0% * Poseidon Concepts Corp. 64,303 96 0.0% Potash Corp. of Saskatchewan, Inc.(2696980) 77,200 2,635,095 0.0% # Potash Corp. of Saskatchewan, Inc.(73755L107) 82,811 2,829,652 0.0% Precision Drilling Corp.(74022D308) 284,527 2,367,265 0.0% Precision Drilling Corp.(B5YPLH9) 419,154 3,492,175 0.0% # Premium Brands Holdings Corp. 41,389 908,902 0.0% * Primero Mining Corp.(74164W106) 81,988 280,399 0.0% * Primero Mining Corp.(B4Z8FV2) 121,855 416,256 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- CANADA -- (Continued) Progressive Waste Solutions, Ltd.(B3DJGB7) 160,566 $ 4,689,972 0.1% Progressive Waste Solutions, Ltd.(74339G101) 71,463 2,088,863 0.0% # Pulse Seismic, Inc. 91,140 240,172 0.0% Pure Technologies, Ltd. 6,396 45,230 0.0% * QLT, Inc. 59,679 237,752 0.0% Quebecor, Inc. Class B 119,800 3,075,120 0.0% #* Questerre Energy Corp. Class A 81,025 52,481 0.0% Reitmans Canada, Ltd. 1,346 7,178 0.0% Reitmans Canada, Ltd. Class A 108,737 593,348 0.0% Richelieu Hardware, Ltd. 21,335 1,012,184 0.0% * Richmont Mines, Inc. 54,902 113,014 0.0% # Ritchie Bros Auctioneers, Inc.(2345390) 62,100 1,517,994 0.0% Ritchie Bros Auctioneers, Inc.(767744105) 29,529 720,212 0.0% * RMP Energy, Inc. 369,791 1,942,383 0.0% * Rock Energy, Inc. 110,742 543,368 0.0% # Rocky Mountain Dealerships, Inc. 28,342 268,319 0.0% # Rogers Communications, Inc. Class B(2169051) 37,700 1,417,618 0.0% Rogers Communications, Inc. Class B(775109200) 32,032 1,206,005 0.0% # Rogers Sugar, Inc. 226,850 893,673 0.0% RONA, Inc. 345,262 4,212,193 0.1% # Royal Bank of Canada(2754383) 313,665 22,267,279 0.2% Royal Bank of Canada(780087102) 125,920 8,961,726 0.1% # Russel Metals, Inc. 91,371 2,663,180 0.0% * San Gold Corp. 182,431 8,903 0.0% #* Sandstorm Gold, Ltd. 165,583 476,012 0.0% * Sandvine Corp. 343,887 854,340 0.0% Saputo, Inc. 139,284 3,952,178 0.0% # Savanna Energy Services Corp. 293,414 1,582,855 0.0% * Scorpio Mining Corp. 182,679 30,796 0.0% # Sears Canada, Inc. 15,055 144,933 0.0% Secure Energy Services, Inc. 109,342 2,024,726 0.0% * SEMAFO, Inc. 612,517 1,494,540 0.0% #* Serinus Energy, Inc. 346 639 0.0% Shaw Communications, Inc. Class B(82028K200) 244,937 6,289,982 0.1% # Shaw Communications, Inc. Class B(2801836) 77,902 2,000,341 0.0% ShawCor, Ltd. 94,275 4,153,102 0.1% Sherritt International Corp. 501,296 1,245,401 0.0% #* Sierra Wireless, Inc.(826516106) 23,828 652,411 0.0% #* Sierra Wireless, Inc.(2418968) 51,526 1,409,930 0.0% * Silver Standard Resources, Inc.(82823L106) 14,136 61,774 0.0% #* Silver Standard Resources, Inc.(2218458) 142,787 622,052 0.0% Silver Wheaton Corp.(828336107) 24,811 430,967 0.0% Silver Wheaton Corp.(B058ZX6) 72,680 1,263,299 0.0% SNC-Lavalin Group, Inc. 27,600 1,189,172 0.0% * Solium Capital, Inc. 16,806 121,529 0.0% #* Southern Pacific Resource Corp. 665,787 17,722 0.0% * Sprott Resource Corp. 29,662 55,005 0.0% # Sprott, Inc. 296,916 637,538 0.0% # Spyglass Resources Corp. 214,891 202,107 0.0% * St Andrew Goldfields, Ltd. 98,808 20,602 0.0% Stantec, Inc. 57,965 3,672,668 0.0% Stella-Jones, Inc. 39,882 1,158,190 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- CANADA -- (Continued) Strad Energy Services, Ltd. 1,000 $ 4,090 0.0% Stuart Olson, Inc. 21,376 144,713 0.0% # Student Transportation, Inc. 115,045 722,700 0.0% Sun Life Financial, Inc.(866796105) 8,848 314,989 0.0% Sun Life Financial, Inc.(2566124) 291,226 10,359,124 0.1% Suncor Energy, Inc.(867224107) 812,323 28,869,959 0.3% Suncor Energy, Inc.(B3NB1P2) 729,529 25,904,573 0.2% * SunOpta, Inc.(8676EP108) 35,649 504,790 0.0% * SunOpta, Inc.(2817510) 73,009 1,033,870 0.0% # Superior Plus Corp. 372,889 4,039,727 0.1% # Surge Energy, Inc. 500,172 2,773,679 0.0% #* TAG Oil, Ltd. 65,570 92,504 0.0% Talisman Energy, Inc.(87425E103) 630,175 4,020,516 0.1% Talisman Energy, Inc.(2068299) 1,340,403 8,551,083 0.1% #* Taseko Mines, Ltd. 415,689 545,867 0.0% Teck Resources, Ltd. Class A 1,294 22,503 0.0% Teck Resources, Ltd. Class B(878742204) 49,729 784,724 0.0% # Teck Resources, Ltd. Class B(2879327) 216,273 3,417,614 0.0% #* Tekmira Pharmaceuticals Corp. 12,300 206,155 0.0% # TELUS Corp. 89,740 3,216,005 0.0% #* Tembec, Inc. 128,010 324,838 0.0% #* Teranga Gold Corp.(B5TDK82) 101,895 39,780 0.0% #* Teranga Gold Corp.(B4L8QT1) 41,624 18,386 0.0% #* Tethys Petroleum, Ltd. 35,628 9,167 0.0% #* Theratechnologies, Inc. 35,700 12,037 0.0% #* Thompson Creek Metals Co., Inc. 510,290 964,392 0.0% # Thomson Reuters Corp. 155,678 5,791,738 0.1% Tim Hortons, Inc.(B4R2V25) 42,900 3,476,002 0.0% Tim Hortons, Inc.(88706M103) 7,969 645,648 0.0% Timminco, Ltd. 17,306 34 0.0% * Timmins Gold Corp. 383,822 367,799 0.0% TMX Group, Ltd. 15,018 722,351 0.0% # TORC Oil & Gas, Ltd. 243,929 2,287,682 0.0% Toromont Industries, Ltd. 128,163 3,060,083 0.0% Toronto-Dominion Bank (The)(891160509) 145,052 7,145,262 0.1% # Toronto-Dominion Bank (The)(2897222) 701,544 34,527,879 0.3% # Torstar Corp. Class B 112,200 655,052 0.0% Total Energy Services, Inc. 63,991 1,111,702 0.0% * Touchstone Exploration, Inc. 25,052 13,337 0.0% * Tourmaline Oil Corp. 82,622 2,963,850 0.0% # TransAlta Corp.(89346D107) 71,187 691,226 0.0% # TransAlta Corp.(2901628) 374,055 3,637,499 0.0% # TransCanada Corp. 232,070 11,438,258 0.1% Transcontinental, Inc. Class A 190,530 2,601,710 0.0% TransForce, Inc. 260,506 6,370,210 0.1% TransGlobe Energy Corp.(893662106) 30,106 130,660 0.0% TransGlobe Energy Corp.(2470548) 90,117 390,996 0.0% Trican Well Service, Ltd. 282,992 2,536,018 0.0% # Trilogy Energy Corp. 69,293 1,079,619 0.0% Trinidad Drilling, Ltd. 392,186 2,554,142 0.0% * TSO3, Inc. 5,400 7,522 0.0% * Turquoise Hill Resources, Ltd.(900435108) 270,904 907,528 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- CANADA -- (Continued) * Turquoise Hill Resources, Ltd.(B7WJ1F5) 507,436 $ 1,701,884 0.0% * TVA Group, Inc. Class B 4,447 32,473 0.0% # Twin Butte Energy, Ltd. 803,479 1,069,357 0.0% Uni-Select, Inc. 20,568 517,553 0.0% * Valeant Pharmaceuticals International, Inc.(B3XSX46) 42,811 5,690,154 0.1% * Valeant Pharmaceuticals International, Inc.(91911K102) 21,188 2,818,852 0.0% # Valener, Inc. 80,233 1,146,135 0.0% # Veresen, Inc. 162,210 2,546,023 0.0% * Vermilion Energy, Inc.(923725105) 12,786 719,085 0.0% # Vermilion Energy, Inc.(B607XS1) 25,561 1,450,585 0.0% Vicwest, Inc. 8,008 73,753 0.0% # Wajax Corp. 61,169 1,957,647 0.0% * Wesdome Gold Mines, Ltd. 85,051 55,088 0.0% West Fraser Timber Co., Ltd. 105,529 5,536,515 0.1% Western Energy Services Corp. 47,822 303,383 0.0% Western Forest Products, Inc. 841,838 1,732,899 0.0% # WesternOne, Inc. 54,988 308,348 0.0% Westjet Airlines, Ltd. 25,767 729,080 0.0% Westshore Terminals Investment Corp. 61,978 1,888,953 0.0% Whistler Blackcomb Holdings, Inc. 33,556 566,586 0.0% # Whitecap Resources, Inc. 363,765 4,709,050 0.1% # Wi-Lan, Inc. 237,232 785,125 0.0% Winpak, Ltd. 39,587 1,044,952 0.0% # WSP Global, Inc. 97,837 2,978,384 0.0% Yamana Gold, Inc.(98462Y100) 139,131 553,741 0.0% Yamana Gold, Inc.(2219279) 749,091 2,984,267 0.0% * Yellow Media, Ltd. 4,700 68,641 0.0% # Zargon Oil & Gas, Ltd. 78,273 425,725 0.0% ZCL Composites, Inc. 10,000 60,157 0.0% -------------------- ------------------ TOTAL CANADA 1,140,181,793 9.3% -------------------- ------------------ CHINA -- (0.0%) * Hanfeng Evergreen, Inc. 42,625 9,786 0.0% Hopewell Highway Infrastructure, Ltd. 58,900 28,486 0.0% * Technovator International, Ltd. 738,000 328,881 0.0% Zhuhai Holdings Investment Group, Ltd. 294,000 56,125 0.0% -------------------- ------------------ TOTAL CHINA 423,278 0.0% -------------------- ------------------ DENMARK -- (1.4%) ALK-Abello A.S. 14,255 1,607,628 0.0% * Alm Brand A.S. 297,277 1,622,917 0.0% # Ambu A.S. Class B 10,822 764,700 0.0% AP Moeller - Maersk A.S. Class A 1,700 3,867,420 0.0% AP Moeller - Maersk A.S. Class B 3,890 9,077,611 0.1% #* Auriga Industries A.S. Class B 37,850 1,955,742 0.0% #* Bang & Olufsen A.S. 133,052 1,032,696 0.0% * Bavarian Nordic A.S. 59,941 1,856,083 0.0% * BoConcept Holding A.S. Class B 450 6,635 0.0% Brodrene Hartmann A.S. 2,300 66,248 0.0% Carlsberg A.S. Class B 86,851 7,660,137 0.1% Chr Hansen Holding A.S. 212,687 8,567,854 0.1% Coloplast A.S. Class B 40,566 3,535,784 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- DENMARK -- (Continued) # D/S Norden A.S. 58,059 $ 1,526,764 0.0% Danske Bank A.S. 291,604 8,007,529 0.1% Dfds A.S. 12,548 1,063,471 0.0% Djurslands Bank A.S. 1,040 35,284 0.0% DSV A.S. 467,022 13,978,514 0.1% # East Asiatic Co., Ltd. A.S. 21,026 189,401 0.0% # FLSmidth & Co. A.S. 70,774 3,208,862 0.0% Fluegger A.S. Class B 350 21,814 0.0% * Genmab A.S. 45,143 1,967,854 0.0% GN Store Nord A.S. 387,683 9,020,391 0.1% Gronlandsbanken A.S. 33 3,458 0.0% # H Lundbeck A.S. 101,588 2,154,210 0.0% * H+H International A.S. Class B 5,798 40,347 0.0% Harboes Bryggeri A.S. Class B 2,462 34,607 0.0% IC Group A.S. 18,057 462,359 0.0% Jeudan A.S. 1,880 176,728 0.0% * Jyske Bank A.S. 127,320 6,864,931 0.1% NKT Holding A.S. 55,642 2,886,238 0.0% Nordjyske Bank A.S. 3,195 69,442 0.0% Norresundby Bank A.S. 880 44,457 0.0% Novo Nordisk A.S. Class B 391,894 17,714,674 0.2% # Novo Nordisk A.S. Sponsored ADR 198,976 8,989,736 0.1% Novozymes A.S. Class B 101,871 4,717,308 0.0% Pandora A.S. 109,149 9,202,513 0.1% * Parken Sport & Entertainment A.S. 5,510 56,626 0.0% PER Aarsleff A.S. Class B 3,483 579,702 0.0% Ringkjoebing Landbobank A.S. 4,635 893,189 0.0% Rockwool International A.S. Class A 55 8,053 0.0% Rockwool International A.S. Class B 14,370 2,091,988 0.0% * Royal UNIBREW 20,893 3,415,239 0.0% Schouw & Co. 37,080 1,642,853 0.0% SimCorp A.S. 51,231 1,546,066 0.0% Solar A.S. Class B 8,307 384,648 0.0% Spar Nord Bank A.S. 100,698 1,017,893 0.0% * Sydbank A.S. 170,067 5,398,943 0.1% TDC A.S. 1,305,790 9,972,391 0.1% Tivoli A.S. 90 45,242 0.0% * TK Development A.S. 248,337 364,122 0.0% * Topdanmark A.S. 232,129 7,388,642 0.1% * Topsil Semiconductor Matls 345,651 26,895 0.0% Tryg A.S. 28,552 3,089,754 0.0% United International Enterprises 2,671 476,099 0.0% * Vestas Wind Systems A.S. 324,959 10,845,497 0.1% * Vestjysk Bank A.S. 23,224 44,257 0.0% * William Demant Holding A.S. 34,074 2,582,519 0.0% -------------------- ------------------ TOTAL DENMARK 185,872,965 1.5% -------------------- ------------------ FINLAND -- (1.4%) Afarak Group Oyj 123,126 38,501 0.0% Ahlstrom Oyj 23,261 212,414 0.0% Alma Media Oyj 25,653 100,694 0.0% # Amer Sports Oyj 359,015 6,881,097 0.1% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- FINLAND -- (Continued) Apetit Oyj 1,800 $ 32,219 0.0% Aspo Oyj 8,353 74,135 0.0% Atria Oyj 20,310 179,323 0.0% Bank of Aland P.L.C. Class B 1,250 15,717 0.0% BasWare Oyj 5,735 287,772 0.0% * Biotie Therapies Oyj 226,186 58,353 0.0% # Cargotec Oyj 94,937 2,865,954 0.0% Caverion Corp. 154,484 1,242,362 0.0% Citycon Oyj 553,828 1,794,355 0.0% Comptel Oyj 51,194 39,806 0.0% Cramo Oyj 25,439 371,008 0.0% Digia Oyj 10,944 41,965 0.0% Elektrobit Oyj 432,247 1,860,187 0.0% Elisa Oyj 259,757 7,135,604 0.1% Etteplan Oyj 6,036 24,010 0.0% F-Secure Oyj 93,826 229,160 0.0% * Finnair Oyj 116,996 365,445 0.0% * Finnlines Oyj 17,325 327,867 0.0% # Fiskars Oyj Abp 34,792 968,567 0.0% Fortum Oyj 602,345 13,969,455 0.1% HKScan Oyj Class A 30,767 130,865 0.0% Huhtamaki Oyj 254,488 6,457,673 0.1% Ilkka-Yhtyma Oyj 29,672 79,179 0.0% # Kemira Oyj 189,319 2,444,780 0.0% Kesko Oyj Class A 2,893 105,076 0.0% Kesko Oyj Class B 161,570 6,127,627 0.1% # Kone Oyj Class B 159,750 6,880,103 0.1% # Konecranes Oyj 105,884 2,967,152 0.0% Lassila & Tikanoja Oyj 54,570 1,006,879 0.0% * Lemminkainen Oyj 23,812 353,461 0.0% Metsa Board Oyj 437,420 1,953,887 0.0% Metso Oyj 194,218 6,345,519 0.1% Metso Oyj Sponsored ADR 10,246 331,356 0.0% Munksjo Oyj 11,852 111,574 0.0% # Neste Oil Oyj 394,086 8,504,156 0.1% # Nokia Oyj 3,385,926 28,292,441 0.2% Nokia Oyj Sponsored ADR 54,678 452,187 0.0% Nokian Renkaat Oyj 154,253 4,357,721 0.1% Okmetic Oyj 21,251 126,872 0.0% Olvi Oyj Class A 9,211 271,895 0.0% * Oriola-KD Oyj Class A 1,000 3,262 0.0% * Oriola-KD Oyj Class B 182,663 604,034 0.0% Orion Oyj Class A 23,463 788,355 0.0% Orion Oyj Class B 118,540 4,031,734 0.0% #* Outokumpu Oyj 270,252 1,534,254 0.0% # Outotec Oyj 556,804 3,684,941 0.0% PKC Group Oyj 38,200 766,157 0.0% Ponsse Oy 49,960 758,064 0.0% * Poyry Oyj 26,849 107,842 0.0% Raisio Oyj Class V 234,325 1,168,869 0.0% Ramirent Oyj 136,599 1,090,220 0.0% Rapala VMC Oyj 14,912 96,375 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- FINLAND -- (Continued) # Saga Furs Oyj 3,026 $ 95,418 0.0% Sampo Oyj Class A 285,354 13,673,422 0.1% Sanoma Oyj 152,085 875,143 0.0% Stockmann Oyj Abp(5462371) 8,998 99,338 0.0% # Stockmann Oyj Abp(5462393) 44,712 495,315 0.0% Stora Enso Oyj Class R 1,124,352 9,285,020 0.1% Stora Enso Oyj Sponsored ADR 105,178 858,252 0.0% #* Talvivaara Mining Co. P.L.C. 676,382 26,021 0.0% Technopolis Oyj 154,731 786,598 0.0% Teleste Oyj 6,970 44,966 0.0% Tieto Oyj 164,194 4,162,987 0.0% Tikkurila Oyj 63,261 1,306,411 0.0% UPM-Kymmene Oyj 906,104 14,373,088 0.1% UPM-Kymmene Oyj Sponsored ADR 78,154 1,237,959 0.0% Uponor Oyj 96,271 1,279,659 0.0% Vacon Oyj 7,644 323,897 0.0% # Vaisala Oyj Class A 6,201 174,729 0.0% Valmet OYJ 163,519 1,730,333 0.0% Wartsila Oyj Abp 123,622 5,732,079 0.1% # YIT Oyj 164,005 1,097,186 0.0% -------------------- ------------------ TOTAL FINLAND 188,708,301 1.5% -------------------- ------------------ FRANCE -- (6.8%) Accor SA 92,212 3,874,038 0.0% Actia Group 16,142 96,306 0.0% # Aeroports de Paris 17,033 2,016,095 0.0% #* Air France-KLM 280,775 2,372,018 0.0% Air Liquide SA 70,638 8,527,098 0.1% Airbus Group NV 144,703 8,638,923 0.1% Akka Technologies SA 9,328 305,014 0.0% Albioma SA 57,631 1,250,024 0.0% * Alcatel-Lucent 2,216,400 6,771,718 0.1% Alcatel-Lucent Sponsored ADR 1,301,007 3,903,021 0.0% * Alstom SA 121,978 4,257,429 0.0% Altamir 24,933 312,629 0.0% Alten SA 50,521 2,160,939 0.0% Altran Technologies SA 290,014 2,849,219 0.0% April 24,454 366,132 0.0% #* Archos 27,729 72,915 0.0% # Arkema SA 88,341 5,452,577 0.1% # Assystem 21,508 434,306 0.0% AtoS 148,078 10,233,412 0.1% Aubay 8,512 101,153 0.0% Audika Groupe 1,627 23,947 0.0% Aurea SA 515 3,312 0.0% AXA SA 726,232 16,774,887 0.1% AXA SA Sponsored ADR 417,343 9,686,531 0.1% # Axway Software SA 7,148 149,403 0.0% #* Beneteau SA 51,664 764,592 0.0% # Bigben Interactive 9,602 62,457 0.0% BioMerieux 23,357 2,463,293 0.0% BNP Paribas SA 431,572 27,120,869 0.2% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- FRANCE -- (Continued) Boiron SA 15,339 $ 1,365,554 0.0% # Bollore SA(4572709) 6,078 2,881,586 0.0% * Bollore SA(BQR9N80) 29 13,265 0.0% Bonduelle S.C.A. 28,548 718,964 0.0% Bongrain SA 8,617 585,953 0.0% Bouygues SA 328,627 11,361,939 0.1% Bureau Veritas SA 119,340 2,951,746 0.0% Burelle SA 100 68,260 0.0% Cap Gemini SA 200,971 13,223,115 0.1% Carrefour SA 524,597 15,376,099 0.1% Casino Guichard Perrachon SA 127,085 13,030,450 0.1% * Cegedim SA 4,065 130,504 0.0% Cegid Group 12,126 446,310 0.0% #* CGG SA Sponsored ADR 123,954 726,370 0.0% * Chargeurs SA 49,798 298,598 0.0% # Christian Dior SA 19,457 3,442,955 0.0% Cie de St-Gobain 444,167 19,092,450 0.2% * Cie des Alpes 237 4,603 0.0% #* Cie Generale de Geophysique - Veritas 80,827 466,973 0.0% Cie Generale des Etablissements Michelin 196,580 17,074,335 0.1% * Club Mediterranee SA 40,276 1,134,728 0.0% CNP Assurances 185,609 3,469,989 0.0% Credit Agricole SA 740,717 10,961,332 0.1% Danone SA 110,929 7,580,061 0.1% Danone SA Sponsored ADR 35,600 486,652 0.0% Dassault Systemes 15,660 993,015 0.0% Dassault Systemes ADR 11,274 711,510 0.0% Derichebourg SA 212,512 533,419 0.0% Devoteam SA 2,950 47,255 0.0% Edenred 214,898 5,957,457 0.1% Eiffage SA 122,813 6,529,100 0.1% Electricite de France SA 297,113 8,773,268 0.1% Electricite de Strasbourg SA 606 79,482 0.0% #* Eramet 14,186 1,318,048 0.0% Essilor International SA 96,559 10,662,234 0.1% * Esso SA Francaise 3,968 153,578 0.0% * Etablissements Maurel et Prom 296,603 3,545,032 0.0% Euler Hermes Group 26,910 2,636,083 0.0% #* Euro Disney SCA 19,225 72,461 0.0% Eurofins Scientific SE 10,878 2,751,490 0.0% Eutelsat Communications SA 164,051 5,318,343 0.1% # Exel Industries Class A 1,907 108,035 0.0% Faiveley Transport SA 9,839 591,703 0.0% Faurecia 217,949 7,059,820 0.1% Fimalac 9,228 619,055 0.0% Fleury Michon SA 2,837 163,800 0.0% * GameLoft SE 56,327 289,168 0.0% Gaumont SA 768 38,193 0.0% GDF Suez 1,783,905 43,313,070 0.4% GEA 98 8,788 0.0% * GECI International 20,581 -- 0.0% GL Events 22,539 450,472 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- FRANCE -- (Continued) Groupe Crit 11,116 $ 569,703 0.0% Groupe Eurotunnel SA 855,615 10,814,326 0.1% Groupe Flo 10,366 36,667 0.0% * Groupe Fnac 9,131 384,493 0.0% # Groupe Gorge 6,147 141,945 0.0% * Groupe Open 2,036 22,371 0.0% Guerbet 14,614 679,694 0.0% Haulotte Group SA 26,567 401,759 0.0% Havas SA 532,922 4,310,664 0.0% * Hi-Media SA 72,142 229,734 0.0% Iliad SA 11,100 2,426,966 0.0% Imerys SA 66,487 4,770,962 0.0% # Ingenico 57,765 5,754,739 0.1% # Interparfums SA 13,006 312,387 0.0% Ipsen SA 48,870 2,402,182 0.0% IPSOS 62,709 1,626,332 0.0% Jacquet Metal Service 30,655 523,153 0.0% JCDecaux SA 86,162 2,859,787 0.0% Kering 56,029 10,812,744 0.1% Korian-Medica 69,546 2,512,211 0.0% L'Oreal SA 25,886 4,062,450 0.0% Lafarge SA 186,003 12,908,666 0.1% Lafarge SA Sponsored ADR 82,410 1,438,055 0.0% Lagardere SCA 196,796 4,789,293 0.0% Laurent-Perrier 2,478 198,700 0.0% * Le Noble Age 1,352 32,863 0.0% Lectra 34,613 341,558 0.0% Legrand SA 119,652 6,439,819 0.1% LISI 33,540 841,532 0.0% LVMH Moet Hennessy Louis Vuitton SA 85,822 14,567,766 0.1% Maisons France Confort SA 3,179 107,820 0.0% * Manitou BF SA 18,376 255,679 0.0% Manutan International 2,179 105,282 0.0% Mersen 24,715 594,635 0.0% * METabolic EXplorer SA 71,826 284,810 0.0% Metropole Television SA 96,203 1,664,859 0.0% MGI Coutier 27,743 411,273 0.0% Montupet 24,322 1,887,708 0.0% Mr Bricolage 8,989 163,765 0.0% Natixis SA 870,387 5,991,288 0.1% # Naturex 14,982 1,042,706 0.0% # Neopost SA 70,541 4,895,533 0.1% #* Nexans SA 89,334 2,722,058 0.0% Nexity SA 82,527 2,962,890 0.0% Norbert Dentressangle SA 8,733 1,276,475 0.0% * NRJ Group 63,138 547,591 0.0% * Onxeo 9,890 83,255 0.0% Orange SA 2,068,708 32,934,599 0.3% # Orange SA Sponsored ADR 212,700 3,379,803 0.0% #* Orco Property Group SA 3,090 1,436 0.0% Orpea 61,833 3,772,573 0.0% * Parrot SA 8,588 162,922 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- FRANCE -- (Continued) Pernod Ricard SA 43,580 $ 4,964,276 0.1% * Peugeot SA 770,909 9,161,883 0.1% * Pierre & Vacances SA 7,592 188,760 0.0% Plastic Omnium SA 113,139 2,576,735 0.0% Publicis Groupe SA 74,395 5,159,874 0.1% # Publicis Groupe SA ADR 100,092 1,734,594 0.0% Rallye SA 74,418 2,884,181 0.0% #* Recylex SA 32,570 77,149 0.0% Remy Cointreau SA 6,550 466,146 0.0% Renault SA 160,774 11,959,377 0.1% Rexel SA 399,924 6,722,339 0.1% Robertet SA 752 155,586 0.0% # Rubis SCA 62,160 3,657,477 0.0% Safran SA 104,730 6,632,918 0.1% Saft Groupe SA 71,019 2,112,513 0.0% Samse SA 546 74,100 0.0% Sanofi 201,598 18,293,009 0.2% Sanofi ADR 522,052 24,139,684 0.2% # Sartorius Stedim Biotech 6,523 1,189,054 0.0% Schneider Electric SE(4834108) 173,596 13,676,952 0.1% Schneider Electric SE(B11BPS1) 20,392 1,604,759 0.0% SCOR SE 289,280 8,864,240 0.1% SEB SA 47,293 3,869,961 0.0% Seche Environnement SA 3,292 96,778 0.0% #* Sequana SA 40,149 119,324 0.0% SES SA 165,470 5,712,299 0.1% Societe BIC SA 25,685 3,204,087 0.0% Societe d'Edition de Canal + 106,570 791,689 0.0% Societe des Bains de Mer et du Cercle des Etrangers a Monaco 1,430 79,979 0.0% Societe Generale SA 311,747 15,023,409 0.1% Societe Internationale de Plantations d'Heveas SA 2,402 99,960 0.0% Societe Marseillaise du Tunnel Prado-Carenage SA 7,833 296,783 0.0% Societe Television Francaise 1 241,853 3,605,673 0.0% Sodexo() 8,908 856,765 0.0% Sodexo(7062713) 38,166 3,681,988 0.0% Sodexo Sponsored ADR 3,800 364,534 0.0% #* SOITEC 540,415 1,344,718 0.0% * Solocal Group 1,697,390 1,042,922 0.0% # Somfy SA 1,225 359,016 0.0% Sopra Group SA 29,302 2,196,491 0.0% #* Spir Communication SA 2,571 37,030 0.0% Stallergenes SA 332 20,812 0.0% #* Ste Industrielle d'Aviation Latecoere SA 15,550 186,123 0.0% Stef SA 4,305 245,469 0.0% # STMicroelectronics NV(861012102) 359,279 2,414,355 0.0% STMicroelectronics NV(5962332) 981,270 6,554,625 0.1% * Store Electronic 16 248 0.0% Suez Environnement Co. 295,550 4,979,212 0.1% Sword Group 9,306 216,472 0.0% Synergie SA 5,890 135,065 0.0% * Technicolor SA 518,313 3,060,128 0.0% * Technicolor SA Sponsored ADR 4,360 25,419 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- FRANCE -- (Continued) Technip SA 100,991 $ 7,296,638 0.1% Technip SA ADR 104,395 1,896,857 0.0% Teleperformance 134,385 8,468,212 0.1% Tessi SA 1,767 174,519 0.0% Thales SA 77,339 3,840,654 0.0% #* Theolia SA 116,506 97,820 0.0% Thermador Groupe 431 40,201 0.0% Total Gabon 203 89,988 0.0% Total SA 1,517,702 90,611,752 0.7% # Total SA Sponsored ADR 595,142 35,643,054 0.3% Touax SA 718 12,775 0.0% #* Transgene SA 1,596 14,819 0.0% * Trigano SA 16,615 336,509 0.0% * UBISOFT Entertainment 300,756 5,445,296 0.1% Union Financiere de France BQE SA 1,141 31,461 0.0% Valeo SA 92,629 10,386,547 0.1% Vallourec SA 208,187 7,608,626 0.1% #* Valneva SE 50,379 277,885 0.0% Veolia Environnement SA 357,063 5,930,389 0.1% # Veolia Environnement SA ADR 47,101 766,333 0.0% Vicat 17,235 1,178,686 0.0% VIEL & Cie SA 48,096 114,423 0.0% Vilmorin & Cie SA 10,421 1,046,166 0.0% Vinci SA 239,738 13,683,822 0.1% Virbac SA 5,876 1,313,008 0.0% Vivendi SA 771,084 18,837,033 0.2% VM Materiaux SA 811 24,170 0.0% Vranken-Pommery Monopole SA 3,897 117,609 0.0% Zodiac Aerospace 212,215 6,475,265 0.1% -------------------- ------------------ TOTAL FRANCE 921,800,865 7.5% -------------------- ------------------ GERMANY -- (5.8%) Aareal Bank AG 124,298 5,340,495 0.1% Adidas AG 74,088 5,398,494 0.1% Adler Modemaerkte AG 25,979 388,636 0.0% #* ADVA Optical Networking SE 90,910 326,403 0.0% #* Air Berlin P.L.C. 74,923 110,849 0.0% #* Aixtron SE 114,799 1,400,713 0.0% Allgeier SE 1,954 34,828 0.0% Allianz SE 150,380 23,913,747 0.2% Allianz SE ADR 855,696 13,622,680 0.1% Amadeus Fire AG 7,948 564,123 0.0% * Analytik Jena AG 4,322 77,045 0.0% * AS Creation Tapeten 906 31,238 0.0% # Aurubis AG 78,723 4,109,531 0.0% Axel Springer SE 73,724 4,055,597 0.0% BASF SE 197,283 17,431,955 0.2% BASF SE Sponsored ADR 58,000 5,116,760 0.1% Basler AG 276 13,788 0.0% #* Bauer AG 22,932 355,470 0.0% Bayer AG 162,060 23,178,107 0.2% Bayer AG Sponsored ADR 10,700 1,519,721 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- GERMANY -- (Continued) Bayerische Motoren Werke AG 414,948 $ 44,498,071 0.4% BayWa AG 29,577 1,171,591 0.0% Bechtle AG 29,337 2,285,574 0.0% Beiersdorf AG 36,787 2,982,648 0.0% Bertrandt AG 7,563 989,998 0.0% Bijou Brigitte AG 4,195 289,302 0.0% # Bilfinger SE 78,958 5,106,202 0.0% Biotest AG 4,237 419,941 0.0% Borussia Dortmund GmbH & Co. KGaA(4627193) 203,912 1,079,908 0.0% * Borussia Dortmund GmbH & Co. KGaA(BQ8P020) 58,880 309,899 0.0% Brenntag AG 141,663 6,873,715 0.1% # CANCOM SE 20,695 849,447 0.0% Carl Zeiss Meditec AG 31,578 849,671 0.0% # CAT Oil AG 45,157 860,154 0.0% Celesio AG 168,158 5,547,840 0.1% CENIT AG 11,286 156,900 0.0% CENTROTEC Sustainable AG 19,354 313,462 0.0% Cewe Stiftung & Co. KGAA 20,225 1,331,124 0.0% Comdirect Bank AG 68,364 691,672 0.0% * Commerzbank AG 979,264 14,806,941 0.1% CompuGroup Medical AG 31,026 712,175 0.0% * Constantin Medien AG 53,339 79,968 0.0% Continental AG 68,112 13,415,731 0.1% CropEnergies AG 41,670 206,540 0.0% CTS Eventim AG & Co., KGaA 71,749 1,895,867 0.0% #* DAB Bank AG 13,385 78,852 0.0% Daimler AG 529,376 41,274,905 0.3% Data Modul AG 2,305 52,154 0.0% DEAG Deutsche Entertainment AG 1,086 8,032 0.0% # Delticom AG 8,371 174,792 0.0% * Deufol SE 10,845 10,601 0.0% # Deutsche Bank AG(D18190898) 258,743 8,103,831 0.1% Deutsche Bank AG(5750355) 288,821 9,031,831 0.1% Deutsche Boerse AG 64,102 4,387,348 0.0% Deutsche Lufthansa AG 471,968 6,991,106 0.1% Deutsche Post AG 579,026 18,233,411 0.2% Deutsche Telekom AG 2,378,113 35,846,051 0.3% # Deutsche Telekom AG Sponsored ADR 528,190 7,912,286 0.1% Deutsche Wohnen AG 306,683 6,922,353 0.1% Deutz AG 203,580 917,101 0.0% * Dialog Semiconductor P.L.C. 94,611 3,267,089 0.0% DIC Asset AG 7,350 61,978 0.0% DMG Mori Seiki AG 104,658 2,679,736 0.0% Dr Hoenle AG 7,908 168,526 0.0% Draegerwerk AG & Co. KGaA 3,415 283,437 0.0% Drillisch AG 52,789 1,838,587 0.0% Duerr AG 38,708 2,719,012 0.0% E.ON SE 691,346 11,918,870 0.1% E.ON SE Sponsored ADR 191,669 3,287,123 0.0% Eckert & Ziegler AG 7,086 212,167 0.0% Elmos Semiconductor AG 28,874 516,877 0.0% ElringKlinger AG 90,122 2,756,645 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- GERMANY -- (Continued) #* Euromicron AG 12,778 $ 211,629 0.0% #* Evotec AG 154,547 568,042 0.0% Fielmann AG 23,577 1,538,529 0.0% * First Sensor AG 8,351 105,197 0.0% Francotyp-Postalia Holding AG Class A 7,041 36,065 0.0% Fraport AG Frankfurt Airport Services Worldwide 58,717 3,638,149 0.0% Freenet AG 294,678 7,731,659 0.1% Fresenius Medical Care AG & Co. KGaA 151,766 11,139,274 0.1% # Fresenius Medical Care AG & Co. KGaA ADR 53,000 1,940,330 0.0% Fresenius SE & Co. KGaA 612,582 31,521,025 0.3% Fuchs Petrolub SE 18,711 688,594 0.0% * GAGFAH SA 57,918 1,083,126 0.0% GEA Group AG 170,872 7,881,920 0.1% Gerresheimer AG 101,261 5,634,355 0.1% Gerry Weber International AG 23,681 952,498 0.0% # Gesco AG 5,247 463,680 0.0% GFK SE 22,393 927,098 0.0% GFT Technologies AG 36,146 500,637 0.0% # Grammer AG 43,440 1,591,747 0.0% Grenkeleasing AG 8,480 843,696 0.0% * H&R AG 15,018 128,653 0.0% Hamburger Hafen und Logistik AG 72,004 1,578,149 0.0% Hannover Rueck SE 87,898 7,336,613 0.1% # Hawesko Holding AG 1,643 76,127 0.0% HeidelbergCement AG 121,765 8,312,484 0.1% #* Heidelberger Druckmaschinen AG 847,234 2,163,924 0.0% Henkel AG & Co. KGaA 25,881 2,355,659 0.0% Highlight Communications AG 31,488 126,163 0.0% Hochtief AG 75,616 5,595,488 0.1% Homag Group AG 4,117 145,072 0.0% Hornbach Baumarkt AG 3,252 115,823 0.0% Hugo Boss AG 34,912 4,638,358 0.0% Indus Holding AG 44,484 2,044,848 0.0% Infineon Technologies AG 360,198 3,509,307 0.0% Infineon Technologies AG ADR 489,836 4,790,596 0.0% #* Intershop Communications AG 3,523 5,522 0.0% Isra Vision AG 6,959 414,580 0.0% Jenoptik AG 100,557 1,152,041 0.0% * Joyou AG 10 124 0.0% K+S AG 351,576 9,852,825 0.1% #* Kloeckner & Co. SE 165,026 1,938,563 0.0% * Koenig & Bauer AG 3,131 39,655 0.0% * Kontron AG 127,594 738,867 0.0% Krones AG 41,049 3,938,246 0.0% KSB AG 214 115,352 0.0% # KUKA AG 45,060 2,839,851 0.0% KWS Saat AG 3,212 1,047,620 0.0% Lanxess AG 204,237 10,637,958 0.1% Leifheit AG 3,113 163,131 0.0% Leoni AG 93,928 5,395,546 0.1% Linde AG 112,611 20,782,945 0.2% # LPKF Laser & Electronics AG 35,937 460,747 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- GERMANY -- (Continued) MAN SE 24,163 $ 2,753,667 0.0% #* Manz AG 5,738 468,995 0.0% * MasterFlex SE 338 2,826 0.0% * Mediclin AG 13,261 62,241 0.0% #* Medigene AG 14,552 73,742 0.0% Merck KGaA 70,498 6,381,784 0.1% * Metro AG 309,934 9,880,218 0.1% MLP AG 87,781 446,518 0.0% # Mobotix AG 2,823 36,480 0.0% * Morphosys AG 3,266 309,362 0.0% MTU Aero Engines AG 111,216 9,754,214 0.1% Muehlbauer Holding AG 1,858 39,393 0.0% Muenchener Rueckversicherungs-Gesellschaft AG 79,225 15,598,435 0.1% MVV Energie AG 12,472 374,994 0.0% Nemetschek AG 7,879 785,322 0.0% Nexus AG 2,391 36,644 0.0% * Nordex SE 163,569 2,772,583 0.0% Norma Group SE 49,391 2,315,154 0.0% # OHB AG 18,075 451,116 0.0% * Osram Licht AG 149,022 5,234,984 0.1% * Patrizia Immobilien AG 103,865 1,404,214 0.0% Pfeiffer Vacuum Technology AG 9,302 724,391 0.0% # PNE Wind AG 192,533 544,022 0.0% Progress-Werk Oberkirch AG 1,999 107,011 0.0% * PSI AG Gesellschaft Fuer Produkte und Systeme der Informationstechnologie 1,221 17,009 0.0% Puma SE 3,939 827,646 0.0% * PVA TePla AG 8,269 20,067 0.0% * QIAGEN NV 283,614 6,665,335 0.1% # QSC AG 182,420 352,841 0.0% # R Stahl AG 3,704 183,584 0.0% Rational AG 4,063 1,273,281 0.0% Rheinmetall AG 79,031 3,405,175 0.0% # Rhoen Klinikum AG 181,202 5,395,278 0.1% RWE AG 793,387 28,150,774 0.2% SAF-Holland SA 119,485 1,497,180 0.0% # Salzgitter AG 67,424 2,036,130 0.0% SAP SE 102,813 7,005,207 0.1% # SAP SE Sponsored ADR 54,592 3,719,353 0.0% # Schaltbau Holding AG 9,102 559,175 0.0% #* SGL Carbon SE 67,730 1,049,823 0.0% SHW AG 10,094 461,014 0.0% Siemens AG Sponsored ADR 195,766 22,070,659 0.2% #* Singulus Technologies AG 93,150 68,288 0.0% Sixt SE 38,274 1,238,177 0.0% #* SKW Stahl-Metallurgie Holding AG 10,141 52,384 0.0% * Sky Deutschland AG 277,740 2,344,812 0.0% #* SMA Solar Technology AG 25,126 625,667 0.0% SMT Scharf AG 4,136 77,202 0.0% # Softing AG 3,278 60,082 0.0% Software AG 107,276 2,701,701 0.0% #* Solarworld AG 882 15,856 0.0% Stada Arzneimittel AG 154,103 5,937,723 0.1% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- GERMANY -- (Continued) STRATEC Biomedical AG 1,103 $ 58,447 0.0% Stroeer Media S.E. 49,325 1,125,562 0.0% # Suedzucker AG 133,714 1,861,835 0.0% * Suss Microtec AG 51,488 304,616 0.0% Symrise AG 83,321 4,697,579 0.0% # TAG Immobilien AG 180,562 2,114,851 0.0% Takkt AG 68,268 1,064,720 0.0% * Talanx AG 77,877 2,513,093 0.0% Technotrans AG 4,636 49,429 0.0% Telefonica Deutschland Holding AG 1,086,584 5,346,952 0.1% Telegate AG 6,801 29,926 0.0% * ThyssenKrupp AG 241,872 5,829,497 0.1% # Tipp24 SE 12,689 610,614 0.0% * Tom Tailor Holding AG 34,722 486,780 0.0% Tomorrow Focus AG 7,335 30,366 0.0% TUI AG 561,525 8,599,192 0.1% United Internet AG 128,268 5,030,463 0.0% Volkswagen AG 31,353 6,686,598 0.1% # Vossloh AG 10,310 593,871 0.0% VTG AG 27,744 560,998 0.0% # Wacker Chemie AG 39,443 4,779,663 0.0% Wacker Neuson SE 69,463 1,351,662 0.0% Washtec AG 51,952 801,657 0.0% Wincor Nixdorf AG 46,647 2,145,307 0.0% XING AG 3,914 415,701 0.0% -------------------- ------------------ TOTAL GERMANY 781,266,421 6.4% -------------------- ------------------ GREECE -- (0.0%) * Alapis Holding Industrial and Commercial SA of Pharmaceutical Chemical Products 69,510 -- 0.0% * Bank of Cyprus PCL 1,186,156 -- 0.0% * T Bank SA 46,506 -- 0.0% -------------------- ------------------ TOTAL GREECE -- 0.0% -------------------- ------------------ HONG KONG -- (2.7%) Aeon Stores Hong Kong Co., Ltd. 32,000 40,030 0.0% AIA Group, Ltd. 3,539,200 19,750,239 0.2% Allied Group, Ltd. 72,000 295,241 0.0% Allied Properties HK, Ltd. 2,868,393 550,961 0.0% * Anxian Yuan China Holdings, Ltd. 1,560,000 32,394 0.0% #* Apac Resources, Ltd. 591,244 14,808 0.0% APT Satellite Holdings, Ltd. 906,000 1,326,168 0.0% Arts Optical International Hldgs 70,000 31,140 0.0% # Asia Financial Holdings, Ltd. 270,000 111,732 0.0% Asia Satellite Telecommunications Holdings, Ltd. 148,000 515,525 0.0% Asia Standard International Group, Ltd. 438,745 107,009 0.0% # ASM Pacific Technology, Ltd. 189,500 2,088,260 0.0% Associated International Hotels, Ltd. 79,000 231,712 0.0% Aupu Group Holding Co., Ltd. 632,000 105,919 0.0% Bank of East Asia, Ltd. 1,897,546 7,899,847 0.1% # BOC Hong Kong Holdings, Ltd. 2,843,500 9,484,092 0.1% # Bonjour Holdings, Ltd. 4,168,000 522,130 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- HONG KONG -- (Continued) Bossini International Hldg 1,204,000 $ 118,023 0.0% #* Brightoil Petroleum Holdings, Ltd. 3,758,000 1,191,623 0.0% * Brockman Mining, Ltd. 2,850,520 123,151 0.0% * Burwill Holdings, Ltd. 9,867,600 363,353 0.0% # Cafe de Coral Holdings, Ltd. 428,000 1,534,608 0.0% Cathay Pacific Airways, Ltd. 2,086,000 3,917,988 0.0% CEC International Holdings, Ltd. 318,000 114,565 0.0% Chen Hsong Holdings 360,000 103,474 0.0% Cheuk Nang Holdings, Ltd. 97,261 85,435 0.0% Cheung Kong Holdings, Ltd. 650,000 11,564,136 0.1% Cheung Kong Infrastructure Holdings, Ltd. 516,045 3,769,360 0.0% * Cheung Wo International Holdings, Ltd. 90,000 6,383 0.0% Chevalier International Holdings, Ltd. 107,913 174,864 0.0% * China Billion Resources, Ltd. 5,752,080 -- 0.0% #* China Daye Non-Ferrous Metals Mining, Ltd. 1,934,000 41,467 0.0% #* China Dynamics Holdings, Ltd. 3,170,000 405,371 0.0% China Electronics Corp. Holdings Co., Ltd. 2,184,000 690,381 0.0% * China Energy Development Holdings, Ltd. 26,238,000 781,766 0.0% * China Environmental Investment Holdings, Ltd. 1,845,000 85,703 0.0% China Financial Services Holdings, Ltd. 304,000 17,844 0.0% * China Flavors & Fragrances Co., Ltd. 24,890 3,727 0.0% * China Infrastructure Investment, Ltd. 2,032,000 43,172 0.0% China Metal International Holdings, Inc. 540,000 191,426 0.0% * China Nuclear Industry 23 International Corp., Ltd. 204,000 27,871 0.0% * China Renji Medical Group, Ltd. 866,250 38,006 0.0% * China Solar Energy Holdings, Ltd. 1,033,500 4,498 0.0% * China Star Entertainment, Ltd. 28,700,000 436,753 0.0% China Ting Group Holdings, Ltd. 692,000 36,110 0.0% * China Tycoon Beverage Holdings, Ltd. 60,000 2,167 0.0% Chong Hing Bank, Ltd. 79,486 176,189 0.0% Chow Sang Sang Holdings International, Ltd. 839,000 2,076,360 0.0% # Chow Tai Fook Jewellery Group, Ltd. 833,600 1,159,542 0.0% Chu Kong Shipping Enterprise Group Co., Ltd. 774,000 192,695 0.0% Chuang's China Investments, Ltd. 642,813 41,406 0.0% Chuang's Consortium International, Ltd. 1,599,553 195,907 0.0% Chun Wo Development Holdings, Ltd. 348,000 53,422 0.0% # CITIC Telecom International Holdings, Ltd. 4,079,000 1,631,131 0.0% CK Life Sciences International Holdings, Inc. 7,736,000 817,847 0.0% CLP Holdings, Ltd. 311,500 2,680,354 0.0% * CP Lotus Corp. 1,420,000 33,851 0.0% Cross-Harbour Holdings, Ltd. (The) 102,000 94,249 0.0% CSI Properties, Ltd. 6,954,200 300,698 0.0% * CST Mining Group, Ltd. 9,192,000 50,931 0.0% Cw Group Holdings, Ltd. 1,014,000 377,535 0.0% Dah Sing Banking Group, Ltd. 1,149,302 2,088,201 0.0% # Dah Sing Financial Holdings, Ltd. 444,044 2,764,937 0.0% * Dan Form Holdings Co., Ltd. 1,227,900 121,953 0.0% Dickson Concepts International, Ltd. 361,000 189,204 0.0% Dorsett Hospitality International, Ltd. 1,732,000 305,935 0.0% Eagle Nice International Holdings, Ltd. 534,000 103,332 0.0% EcoGreen Fine Chemicals Group, Ltd. 132,000 39,088 0.0% * EganaGoldpfeil Holdings, Ltd. 209,588 -- 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- HONG KONG -- (Continued) Emperor Capital Group, Ltd. 204,000 $ 10,797 0.0% # Emperor Entertainment Hotel, Ltd. 1,915,000 575,364 0.0% Emperor International Holdings, Ltd. 3,742,416 816,009 0.0% Emperor Watch & Jewellery, Ltd. 10,290,000 471,307 0.0% * Enviro Energy International Holdings, Ltd. 408,000 6,548 0.0% * EPI Holdings, Ltd. 7,858,000 176,361 0.0% Esprit Holdings, Ltd. 3,297,813 4,131,083 0.1% * eSun Holdings, Ltd. 923,000 102,408 0.0% Fairwood Holdings, Ltd. 122,500 276,091 0.0% # Far East Consortium International, Ltd. 2,171,866 807,004 0.0% * FIH Mobile, Ltd. 5,880,000 3,132,583 0.0% First Pacific Co., Ltd. 5,803,756 6,241,006 0.1% Fountain SET Holdings, Ltd. 1,150,000 133,436 0.0% Four Seas Mercantile Holdings, Ltd. 36,000 21,076 0.0% Fujikon Industrial Holdings, Ltd. 132,000 26,557 0.0% # Future Bright Holdings, Ltd. 1,350,000 517,354 0.0% * G-Resources Group, Ltd. 51,355,200 1,255,347 0.0% Galaxy Entertainment Group, Ltd. 576,000 3,942,346 0.0% * GCL New Energy Holdings, Ltd. 1,250,000 848,110 0.0% Get Nice Holdings, Ltd. 11,032,000 504,859 0.0% # Giordano International, Ltd. 3,768,000 1,919,569 0.0% * Global Brands Group Holding, Ltd. 3,397,250 748,520 0.0% # Glorious Sun Enterprises, Ltd. 796,000 173,426 0.0% Gold Peak Industries Holding, Ltd. 453,000 42,014 0.0% Golden Resources Development International, Ltd. 676,000 40,062 0.0% * Good Fellow Resources Holdings, Ltd. 150,000 9,677 0.0% Guangnan Holdings, Ltd. 980,000 160,537 0.0% # Haitong International Securities Group, Ltd. 1,796,192 1,069,722 0.0% Hang Lung Group, Ltd. 747,000 3,758,205 0.0% Hang Lung Properties, Ltd. 1,526,000 4,765,284 0.1% Hang Seng Bank, Ltd. 307,300 5,206,986 0.1% * Hao Tian Development Group, Ltd. 756,000 48,744 0.0% Harbour Centre Development, Ltd. 158,000 287,390 0.0% # Henderson Land Development Co., Ltd. 1,245,096 8,411,587 0.1% * Heng Fai Enterprises, Ltd. 100,000 4,324 0.0% HKR International, Ltd. 919,962 444,692 0.0% Hon Kwok Land Investment Co., Ltd. 234,000 81,516 0.0% Hong Kong & China Gas Co., Ltd. 1,848,867 4,317,449 0.1% # Hong Kong Aircraft Engineering Co., Ltd. 33,600 369,169 0.0% Hong Kong Exchanges and Clearing, Ltd. 391,458 8,691,620 0.1% #* Hong Kong Television Network, Ltd. ADR 19,127 147,660 0.0% Hongkong & Shanghai Hotels (The) 962,924 1,524,854 0.0% Hongkong Chinese, Ltd. 1,625,143 383,881 0.0% Hop Hing Group Holdings, Ltd. 252,000 5,614 0.0% Hopewell Holdings, Ltd. 1,178,000 4,188,083 0.1% # Hsin Chong Construction Group, Ltd. 1,682,000 208,210 0.0% Hung Hing Printing Group, Ltd. 910,524 132,720 0.0% # Hutchison Telecommunications Hong Kong Holdings, Ltd. 4,832,000 1,925,919 0.0% Hutchison Whampoa, Ltd. 1,062,000 13,494,150 0.1% Hysan Development Co., Ltd. 693,215 3,171,985 0.0% * I-CABLE Communications, Ltd. 1,856,000 167,703 0.0% * Imagi International Holdings, Ltd. 18,768,000 546,851 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- HONG KONG -- (Continued) * Integrated Waste Solutions Group Holdings, Ltd. 4,444,000 $ 269,614 0.0% iOne Holdings, Ltd. 700,000 24,830 0.0% IPE Group, Ltd. 1,225,000 113,712 0.0% #* IRC, Ltd. 1,958,000 151,587 0.0% IT, Ltd. 1,735,087 521,136 0.0% * Jinhui Holdings Co., Ltd. 167,000 29,934 0.0% Johnson Electric Holdings, Ltd. 917,250 3,105,169 0.0% # K Wah International Holdings, Ltd. 2,647,135 1,660,415 0.0% Ka Shui International Holdings, Ltd. 134,000 22,699 0.0% Kam Hing International Holdings, Ltd. 74,000 5,538 0.0% Kantone Holdings, Ltd. 2,444,360 30,198 0.0% Kerry Logistics Network, Ltd. 390,791 637,142 0.0% Kerry Properties, Ltd. 1,156,083 3,973,306 0.1% * King Stone Energy Group, Ltd. 1,196,000 38,417 0.0% Kingmaker Footwear Holdings, Ltd. 754,000 126,290 0.0% # Kingston Financial Group, Ltd. 5,725,000 679,241 0.0% * Ko Yo Chemical Group, Ltd. 1,520,000 372,702 0.0% Kowloon Development Co., Ltd. 932,000 1,114,138 0.0% # L'Occitane International SA 855,500 2,020,026 0.0% * Lai Sun Development Co., Ltd. 32,713,666 838,960 0.0% Lam Soon Hong Kong, Ltd. 12,000 10,696 0.0% Lee's Pharmaceutical Holdings, Ltd. 118,500 162,581 0.0% Lerado Group Holding Co., Ltd. 672,000 101,397 0.0% Li & Fung, Ltd. 3,397,250 4,144,737 0.1% Lifestyle International Holdings, Ltd. 1,067,500 2,017,040 0.0% Lippo China Resources, Ltd. 7,616,000 353,698 0.0% Lippo, Ltd. 102,000 60,695 0.0% * Lisi Group Holdings, Ltd. 250,000 14,339 0.0% Liu Chong Hing Investment, Ltd. 448,000 566,673 0.0% Luen Thai Holdings, Ltd. 336,000 68,508 0.0% Luk Fook Holdings International, Ltd. 1,439,000 4,281,379 0.1% Luks Group Vietnam Holdings Co., Ltd. 130,000 35,199 0.0% Lung Kee Bermuda Holdings 280,000 84,376 0.0% Magnificent Estates 4,256,000 203,020 0.0% # Man Wah Holdings, Ltd. 1,692,800 2,528,381 0.0% Man Yue Technology Holdings, Ltd. 706,000 158,138 0.0% * Mei Ah Entertainment Group, Ltd. 3,580,000 318,561 0.0% # Melco Crown Entertainment, Ltd. 19,500 175,739 0.0% Melco Crown Entertainment, Ltd. ADR 28,855 783,125 0.0% # Melco International Development, Ltd. 977,000 2,655,272 0.0% MGM China Holdings, Ltd. 518,000 1,665,264 0.0% #* Midland Holdings, Ltd. 2,070,000 1,017,504 0.0% Ming Fai International Holdings, Ltd. 453,000 46,759 0.0% * Ming Fung Jewellery Group, Ltd. 6,556,000 72,796 0.0% Miramar Hotel & Investment 241,000 304,276 0.0% #* Mongolian Mining Corp. 3,105,500 280,484 0.0% MTR Corp., Ltd. 724,817 2,955,429 0.0% # NagaCorp, Ltd. 3,908,000 3,286,105 0.0% Natural Beauty Bio-Technology, Ltd. 70,000 5,776 0.0% * Neo-Neon Holdings, Ltd. 1,247,000 200,905 0.0% * Neptune Group, Ltd. 6,370,000 144,652 0.0% * New Smart Energy Group, Ltd. 4,042,500 232,003 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- HONG KONG -- (Continued) New World Development Co., Ltd. 8,459,839 $ 10,655,914 0.1% # Newocean Energy Holdings, Ltd. 3,126,000 1,472,593 0.0% Next Media, Ltd. 1,192,000 113,846 0.0% NWS Holdings, Ltd. 1,492,538 2,778,541 0.0% * Orange Sky Golden Harvest Entertainment Holdings, Ltd. 2,990,000 235,473 0.0% Orient Overseas International, Ltd. 549,000 3,113,627 0.0% Oriental Watch Holdings 1,152,240 257,383 0.0% Pacific Andes International Holdings, Ltd. 4,464,274 187,133 0.0% # Pacific Basin Shipping, Ltd. 4,068,000 1,947,143 0.0% Pacific Textiles Holdings, Ltd. 2,004,000 2,697,201 0.0% Paliburg Holdings, Ltd. 662,790 217,105 0.0% # Paradise Entertainment, Ltd. 1,044,000 432,166 0.0% PCCW, Ltd. 7,207,265 4,591,073 0.1% PCCW, Ltd. ADR 7,400 46,583 0.0% #* Peace Mark Holdings, Ltd. 308,000 -- 0.0% * Pearl Oriental Oil, Ltd. 2,842,627 80,341 0.0% Pegasus International Holdings, Ltd. 82,000 11,845 0.0% Perfect Shape PRC Holdings, Ltd. 480,000 92,264 0.0% # Pico Far East Holdings, Ltd. 1,042,000 258,050 0.0% Playmates Holdings, Ltd. 195,400 209,297 0.0% # Playmates Toys, Ltd. 1,164,000 268,915 0.0% PNG Resources Holdings, Ltd. 790,400 33,633 0.0% Polytec Asset Holdings, Ltd. 4,250,000 620,120 0.0% Power Assets Holdings, Ltd. 442,500 4,278,204 0.1% # Prada SpA 271,600 1,672,007 0.0% Public Financial Holdings, Ltd. 464,000 221,591 0.0% PYI Corp., Ltd. 5,416,552 122,069 0.0% Regal Hotels International Holdings, Ltd. 1,143,400 697,316 0.0% * Richfield Group Holdings, Ltd. 2,392,000 86,346 0.0% # SA SA International Holdings, Ltd. 2,014,000 1,392,399 0.0% Samsonite International SA 2,251,500 7,481,115 0.1% #* Sandmartin International Holdings, Ltd. 270,000 15,677 0.0% Sands China, Ltd. 555,600 3,468,924 0.0% SAS Dragon Hldg, Ltd. 1,238,000 381,716 0.0% SCMP Group, Ltd. 10,000 1,440 0.0% SEA Holdings, Ltd. 246,000 159,775 0.0% # Shangri-La Asia, Ltd. 2,192,166 3,188,687 0.0% Shenyin Wanguo HK, Ltd. 470,000 269,439 0.0% * Shougang Concord Technology Holdings 4,482,000 167,488 0.0% Shun Tak Holdings, Ltd. 5,192,250 2,645,360 0.0% * Silver base Group Holdings, Ltd. 470,000 58,847 0.0% Simsen International Corp., Ltd. 24,000 5,199 0.0% Sing Tao News Corp., Ltd. 490,000 69,564 0.0% Singamas Container Holdings, Ltd. 3,242,000 556,293 0.0% Sino Land Co., Ltd. 2,633,265 4,372,833 0.1% Sitoy Group Holdings, Ltd. 335,000 276,330 0.0% SJM Holdings, Ltd. 1,894,699 3,994,840 0.1% SmarTone Telecommunications Holdings, Ltd. 1,286,803 1,663,265 0.0% * SOCAM Development, Ltd. 432,488 359,707 0.0% * Solomon Systech International, Ltd. 754,000 36,984 0.0% Soundwill Holdings, Ltd. 36,000 57,136 0.0% * South China China, Ltd. 1,088,000 102,460 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- HONG KONG -- (Continued) # Stella International Holdings, Ltd. 552,000 $ 1,583,695 0.0% Stelux Holdings International, Ltd. 637,600 141,433 0.0% * Success Universe Group, Ltd. 2,804,000 99,558 0.0% Sun Hing Vision Group Holdings, Ltd. 122,000 41,200 0.0% # Sun Hung Kai & Co., Ltd. 1,654,787 1,230,061 0.0% Sun Hung Kai Properties, Ltd. 1,006,511 15,057,226 0.1% Swire Pacific, Ltd. Class A 327,000 4,293,331 0.1% Swire Pacific, Ltd. Class B 432,500 1,049,761 0.0% Swire Properties, Ltd. 393,050 1,259,454 0.0% * Symphony Holdings, Ltd. 651,500 55,475 0.0% TAI Cheung Holdings, Ltd. 498,000 410,500 0.0% Tai Sang Land Development, Ltd. 145,523 67,845 0.0% Tan Chong International, Ltd. 372,000 138,240 0.0% Tao Heung Holdings, Ltd. 36,000 18,980 0.0% * Taung Gold International, Ltd. 3,200,000 85,863 0.0% Techtronic Industries Co., Ltd. 2,609,500 8,186,145 0.1% Television Broadcasts, Ltd. 618,000 3,371,660 0.0% * Termbray Industries International Holdings, Ltd. 112,000 11,556 0.0% Texwinca Holdings, Ltd. 1,434,000 1,258,503 0.0% #* Titan Petrochemicals Group, Ltd. 3,200,000 1,032 0.0% # Tradelink Electronic Commerce, Ltd. 1,382,000 305,149 0.0% # Transport International Holdings, Ltd. 291,800 534,371 0.0% # Trinity, Ltd. 3,704,000 889,294 0.0% #* TSC Group Holdings, Ltd. 1,410,000 519,920 0.0% #* United Laboratories International Holdings, Ltd. (The) 1,839,500 1,420,641 0.0% * Universe International Holdings, Ltd. 2,910,000 43,544 0.0% # Value Partners Group, Ltd. 2,062,000 1,554,016 0.0% Varitronix International, Ltd. 969,000 807,426 0.0% * Vedan International Holdings, Ltd. 1,192,000 66,129 0.0% Victory City International Holdings, Ltd. 1,783,244 255,318 0.0% # Vitasoy International Holdings, Ltd. 1,042,000 1,435,556 0.0% VST Holdings, Ltd. 1,747,200 603,284 0.0% # VTech Holdings, Ltd. 216,700 2,708,075 0.0% Wai Kee Holdings, Ltd. 222,000 63,072 0.0% Wharf Holdings, Ltd. (The) 695,750 5,159,323 0.1% Wheelock & Co., Ltd. 1,172,000 5,664,303 0.1% Win Hanverky Holdings, Ltd. 32,000 4,086 0.0% Wing On Co. International, Ltd. 123,137 357,513 0.0% Wing Tai Properties, Ltd. 374,000 243,581 0.0% Wong's Kong King International 110,000 9,647 0.0% # Wynn Macau, Ltd. 389,200 1,404,487 0.0% Xinyi Glass Holdings, Ltd. 6,548,000 3,851,959 0.0% # Xinyi Solar Holdings, Ltd. 3,204,000 1,084,341 0.0% Yau Lee Holdings, Ltd. 218,000 47,551 0.0% Yeebo International Hldg 26,000 4,429 0.0% # YGM Trading, Ltd. 103,000 218,903 0.0% Yue Yuen Industrial Holdings, Ltd. 1,778,500 5,993,357 0.1% -------------------- ------------------ TOTAL HONG KONG 361,323,579 2.9% -------------------- ------------------ IRELAND -- (0.4%) * Bank of Ireland 8,189,025 3,223,647 0.0% #* Bank of Ireland Sponsored ADR 82,095 1,312,699 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- IRELAND -- (Continued) C&C Group P.L.C.(B010DT8) 24,767 $ 111,017 0.0% C&C Group P.L.C.(B011Y09) 500,412 2,229,079 0.0% CRH P.L.C.(4182249) 161,099 3,573,730 0.0% CRH P.L.C.(0182704) 71,685 1,592,857 0.0% # CRH P.L.C. Sponsored ADR 437,413 9,802,425 0.1% Dragon Oil P.L.C. 315,037 2,723,040 0.0% FBD Holdings P.L.C.(0329028) 18,709 309,587 0.0% FBD Holdings P.L.C.(4330231) 33,150 560,704 0.0% Glanbia P.L.C.(4058629) 149,945 2,118,164 0.0% Glanbia P.L.C.(0066950) 74,909 1,060,773 0.0% IFG Group P.L.C. 45,155 86,705 0.0% Irish Continental Group P.L.C. 104,638 365,615 0.0% * Kenmare Resources P.L.C. 357,459 39,447 0.0% Kerry Group P.L.C. Class A(0490656) 76,886 5,236,071 0.1% Kerry Group P.L.C. Class A(4519579) 19,219 1,305,483 0.0% Kingspan Group P.L.C.(0492793) 19,320 304,254 0.0% Kingspan Group P.L.C.(4491235) 295,937 4,632,333 0.1% Paddy Power P.L.C.(0258810) 7,672 559,924 0.0% Paddy Power P.L.C.(4828974) 38,032 2,775,828 0.0% Smurfit Kappa Group P.L.C. 350,536 7,242,682 0.1% -------------------- ------------------ TOTAL IRELAND 51,166,064 0.4% -------------------- ------------------ ISRAEL -- (0.6%) * Africa Israel Investments, Ltd. 338,410 544,134 0.0% Africa Israel Properties, Ltd. 22,005 316,953 0.0% * Airport City, Ltd. 58,545 535,392 0.0% * AL-ROV Israel, Ltd. 7,750 227,101 0.0% * Allot Communications, Ltd. 5,559 62,926 0.0% #* Alon Blue Square Israel, Ltd. 25,445 69,831 0.0% * Alrov Properties and Lodgings, Ltd. 1,870 37,697 0.0% Amot Investments, Ltd. 124,444 393,308 0.0% * AudioCodes, Ltd. 29,705 138,935 0.0% Avgol Industries 1953, Ltd. 30,929 25,990 0.0% * Azorim-Investment Development & Construction Co., Ltd. 20,709 16,196 0.0% Azrieli Group 67,747 2,189,777 0.0% Bank Hapoalim BM 1,164,122 5,992,732 0.1% * Bank Leumi Le-Israel BM 1,336,673 4,776,735 0.1% Bayside Land Corp. 972 258,970 0.0% Bezeq The Israeli Telecommunication Corp., Ltd. 1,937,341 3,311,157 0.1% * Brainsway, Ltd. 1,406 12,258 0.0% Cellcom Israel, Ltd.(M2196U109) 28,645 289,887 0.0% Cellcom Israel, Ltd.(B23WQK8) 47,327 486,403 0.0% * Ceragon Networks, Ltd. 14,237 21,405 0.0% #* Clal Biotechnology Industries, Ltd. 136,587 142,269 0.0% * Clal Insurance Enterprises Holdings, Ltd. 46,887 744,914 0.0% * Compugen, Ltd. 2,744 20,494 0.0% Delek Automotive Systems, Ltd. 60,612 605,959 0.0% Delek Group, Ltd. 5,221 1,804,638 0.0% Delta-Galil Industries, Ltd. 16,414 435,034 0.0% * El Al Israel Airlines 152,065 21,206 0.0% # Elbit Systems, Ltd.(6308913) 35,171 2,139,277 0.0% Elbit Systems, Ltd.(M3760D101) 500 30,310 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- ISRAEL -- (Continued) Electra, Ltd. 2,349 $ 302,006 0.0% Elron Electronic Industries, Ltd. 6,344 28,743 0.0% #* Evogene, Ltd. 16,344 186,370 0.0% * EZchip Semiconductor, Ltd.(6554998) 2,588 53,466 0.0% #* EZchip Semiconductor, Ltd.(M4146Y108) 24,727 524,954 0.0% First International Bank Of Israel, Ltd. 60,157 847,181 0.0% FMS Enterprises Migun, Ltd. 3,360 49,024 0.0% Formula Systems 1985, Ltd. 11,080 278,829 0.0% # Fox Wizel, Ltd. 8,045 187,645 0.0% Frutarom Industries, Ltd. 60,311 1,526,161 0.0% * Gilat Satellite Networks, Ltd.(M51474118) 4,324 21,447 0.0% * Gilat Satellite Networks, Ltd.(B01BZ39) 28,182 141,136 0.0% Golf & Co., Ltd. 12,895 40,620 0.0% * Hadera Paper, Ltd. 3,551 118,721 0.0% Harel Insurance Investments & Financial Services, Ltd. 284,596 1,437,485 0.0% # Industrial Buildings Corp., Ltd. 69,029 113,448 0.0% Israel Chemicals, Ltd. 174,096 1,173,732 0.0% * Israel Discount Bank, Ltd. Class A 1,511,176 2,437,252 0.0% Israel Land Development Co., Ltd. (The) 7,214 29,886 0.0% Ituran Location and Control, Ltd.(M6158M104) 2,473 50,672 0.0% Ituran Location and Control, Ltd.(B0LDC23) 18,916 385,452 0.0% * Jerusalem Oil Exploration 23,964 966,031 0.0% * Kamada, Ltd. 23,951 99,432 0.0% Magic Software Enterprises, Ltd. 10,713 73,068 0.0% Matrix IT, Ltd. 74,477 384,572 0.0% #* Mazor Robotics, Ltd. 29,389 170,149 0.0% Meitav DS Investments, Ltd. 17,159 58,379 0.0% # Melisron, Ltd. 25,629 685,394 0.0% Menorah Mivtachim Holdings, Ltd. 58,152 626,775 0.0% Migdal Insurance & Financial Holding, Ltd. 569,762 777,911 0.0% # Mivtach Shamir Holdings, Ltd. 9,389 264,031 0.0% #* Mizrahi Tefahot Bank, Ltd. 306,647 3,394,587 0.1% * Naphtha Israel Petroleum Corp., Ltd. 51,067 340,812 0.0% Neto ME Holdings, Ltd. 1,394 67,522 0.0% NICE Systems, Ltd. Sponsored ADR 40,805 1,659,947 0.0% * Nitsba Holdings 1995, Ltd. 50,826 745,737 0.0% * Nova Measuring Instruments, Ltd. 13,791 137,331 0.0% * Oil Refineries, Ltd. 2,542,052 829,755 0.0% Ormat Industries 177,716 1,222,999 0.0% Osem Investments, Ltd. 36,382 699,826 0.0% * Partner Communications Co., Ltd. 86,407 578,092 0.0% * Partner Communications Co., Ltd. ADR 11,519 74,989 0.0% Paz Oil Co., Ltd. 10,709 1,513,538 0.0% Phoenix Holdings, Ltd. (The) 143,571 420,851 0.0% Plasson Industries, Ltd. 1,880 70,732 0.0% # Rami Levi Chain Stores Hashikma Marketing 2006, Ltd. 12,866 582,110 0.0% * Sapiens International Corp. NV 4,537 34,155 0.0% Shikun & Binui, Ltd. 330,920 764,135 0.0% # Shufersal, Ltd. 71,447 176,645 0.0% Strauss Group, Ltd. 43,223 702,680 0.0% Teva Pharmaceutical Industries, Ltd. 264 14,902 0.0% Teva Pharmaceutical Industries, Ltd. Sponsored ADR 588,403 33,227,117 0.3% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- ISRAEL -- (Continued) #* Tower Semiconductor, Ltd. 22,626 $ 226,614 0.0% * Union Bank of Israel 38,349 147,489 0.0% -------------------- ------------------ TOTAL ISRAEL 87,324,425 0.7% -------------------- ------------------ ITALY -- (2.2%) #* A.S. Roma SpA 145,757 115,357 0.0% A2A SpA 2,071,109 2,076,754 0.0% ACEA SpA 87,181 1,066,643 0.0% #* Aeffe SpA 68,280 174,759 0.0% # Aeroporto di Venezia Marco Polo SpA - SAVE 28,144 453,409 0.0% Alerion Cleanpower SpA 26,861 93,051 0.0% Amplifon SpA 139,023 813,909 0.0% Ansaldo STS SpA 198,920 2,285,113 0.0% #* Arnoldo Mondadori Editore SpA 275,035 226,816 0.0% Ascopiave SpA 134,859 315,995 0.0% Assicurazioni Generali SpA 462,502 9,490,742 0.1% # Astaldi SpA 230,578 1,613,040 0.0% Atlantia SpA 194,227 4,587,098 0.1% * Autogrill SpA 235,095 1,593,345 0.0% Azimut Holding SpA 155,487 3,639,339 0.0% #* Banca Carige SpA 5,419,342 454,830 0.0% # Banca Finnat Euramerica SpA 202,150 110,111 0.0% Banca Generali SpA 99,003 2,626,824 0.0% Banca IFIS SpA 30,778 542,064 0.0% #* Banca Monte dei Paschi di Siena SpA 3,807,702 2,913,314 0.0% * Banca Popolare dell'Emilia Romagna SC 1,372,068 10,469,812 0.1% #* Banca Popolare dell'Etruria e del Lazio 690,352 435,954 0.0% * Banca Popolare di Milano Scarl 6,472,786 4,878,690 0.1% Banca Popolare di Sondrio SCARL 646,025 2,592,790 0.0% # Banca Profilo SpA 276,388 112,861 0.0% Banco di Desio e della Brianza SpA 30,473 96,114 0.0% #* Banco Popolare SC 635,651 9,233,610 0.1% * BasicNet SpA 47,125 138,220 0.0% #* Beghelli SpA 52,121 25,599 0.0% Biesse SpA 35,855 344,562 0.0% Brembo SpA 49,374 1,637,311 0.0% #* Brioschi Sviluppo Immobiliare SpA 218,173 25,201 0.0% # Brunello Cucinelli SpA 20,854 422,550 0.0% Buzzi Unicem SpA 162,388 2,197,264 0.0% Cairo Communication SpA 47,163 317,025 0.0% #* Carraro SpA 24,693 53,856 0.0% Cembre SpA 4,534 57,226 0.0% Cementir Holding SpA 117,265 704,593 0.0% * CIR-Compagnie Industriali Riunite SpA 917,055 919,752 0.0% CNH Industrial NV 380,186 3,102,463 0.0% Credito Emiliano SpA 201,689 1,554,140 0.0% * Credito Valtellinese SC 1,798,166 1,861,948 0.0% # d'Amico International Shipping SA 149,651 67,810 0.0% Danieli & C Officine Meccaniche SpA 25,898 604,257 0.0% Datalogic SpA 25,733 296,318 0.0% Davide Campari-Milano SpA 217,081 1,561,154 0.0% De' Longhi 87,233 1,707,218 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- ITALY -- (Continued) * Delclima 35,945 $ 66,641 0.0% DiaSorin SpA 30,809 1,188,537 0.0% #* Ei Towers SpA 15,342 769,358 0.0% El.En. SpA 1,980 55,634 0.0% Elica SpA 6,214 12,450 0.0% Enel Green Power SpA 1,159,587 2,850,582 0.0% Enel SpA 1,237,593 6,324,000 0.1% Engineering SpA 10,702 517,584 0.0% Eni SpA 1,478,324 31,495,536 0.3% # Eni SpA Sponsored ADR 221,992 9,434,660 0.1% ERG SpA 147,917 1,696,112 0.0% Esprinet SpA 66,385 548,598 0.0% * Eurotech SpA 93,990 182,906 0.0% Falck Renewables SpA 309,609 392,437 0.0% * Finmeccanica SpA 770,085 6,958,799 0.1% FNM SpA 266,439 192,961 0.0% Gas Plus SpA 5,879 27,107 0.0% #* Geox SpA 139,690 427,539 0.0% #* Gruppo Editoriale L'Espresso SpA 350,809 375,393 0.0% # Gruppo MutuiOnline SpA 659 3,900 0.0% GTECH SpA 106,771 2,488,506 0.0% Hera SpA 938,841 2,472,425 0.0% * IMMSI SpA 569,175 350,028 0.0% * Indesit Co. SpA 66,609 916,184 0.0% Industria Macchine Automatiche SpA 21,983 861,891 0.0% * Intek Group SpA 448,638 193,438 0.0% Interpump Group SpA 112,611 1,468,604 0.0% Intesa Sanpaolo SpA 6,344,733 18,651,983 0.2% Iren SpA 870,126 1,052,185 0.0% # Italcementi SpA 475,597 2,723,830 0.0% # Italmobiliare SpA 16,960 403,248 0.0% #* Juventus Football Club SpA 1,175,852 325,804 0.0% La Doria SpA 23,017 177,342 0.0% * Landi Renzo SpA 62,245 77,249 0.0% Luxottica Group SpA 73,195 3,733,508 0.0% Luxottica Group SpA Sponsored ADR 13,400 680,720 0.0% #* Maire Tecnimont SpA 232,382 495,763 0.0% MARR SpA 52,605 838,880 0.0% * Mediaset SpA 1,247,397 4,178,658 0.1% * Mediobanca SpA 1,063,232 9,384,239 0.1% # Mediolanum SpA 254,668 1,716,998 0.0% Nice SpA 16,046 54,634 0.0% Parmalat SpA 940,095 2,826,223 0.0% #* Piaggio & C SpA 285,621 798,686 0.0% #* Pininfarina SpA 3,163 12,524 0.0% Pirelli & C. SpA 254,580 3,413,852 0.0% #* Prelios SpA 159,284 52,272 0.0% #* Prima Industrie SpA 16,450 266,501 0.0% Prysmian SpA 349,951 6,065,061 0.1% #* RCS MediaGroup SpA 106,352 112,192 0.0% Recordati SpA 166,793 2,885,967 0.0% #* Reno de Medici SpA 220,924 77,142 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- ITALY -- (Continued) Reply SpA 7,767 $ 573,138 0.0% #* Retelit SpA 296,755 220,041 0.0% Sabaf SpA 3,507 56,757 0.0% SAES Getters SpA 4,958 37,546 0.0% #* Safilo Group SpA 81,864 1,109,962 0.0% * Saipem SpA 309,748 4,849,088 0.1% * Salini Impregilo SpA 99,008 273,600 0.0% Salvatore Ferragamo Italia SpA 31,366 742,124 0.0% #* Saras SpA 625,765 638,691 0.0% Servizi Italia SpA 3,824 19,890 0.0% #* Snai SpA 53,214 83,356 0.0% Snam SpA 737,209 3,986,444 0.1% # Societa Cattolica di Assicurazioni SCRL 78,090 1,209,458 0.0% Societa Iniziative Autostradali e Servizi SpA 194,040 1,944,229 0.0% * Societa Partecipazioni Finanziarie SpA 271,551 -- 0.0% * Sogefi SpA 79,982 208,183 0.0% SOL SpA 45,101 361,292 0.0% * Sorin SpA 577,254 1,291,616 0.0% * Telecom Italia Media SpA 5,706 6,796 0.0% #* Telecom Italia SpA 15,360,297 17,407,537 0.2% * Telecom Italia SpA Sponsored ADR 342,088 3,865,594 0.0% Tenaris SA 64,515 1,275,759 0.0% Tenaris SA ADR 49,796 1,973,913 0.0% Terna Rete Elettrica Nazionale SpA 1,317,124 6,640,534 0.1% #* Tiscali SpA 2,735,137 144,831 0.0% # Tod's SpA 13,547 1,249,857 0.0% # Trevi Finanziaria Industriale SpA 113,172 406,964 0.0% * Uni Land SpA 58,555 -- 0.0% UniCredit SpA 1,967,221 14,248,033 0.1% Unione di Banche Italiane SCPA 1,609,345 12,638,980 0.1% Unipol Gruppo Finanziario SpA 457,782 2,214,535 0.0% UnipolSai SpA 1,568,517 4,217,331 0.1% Vianini Lavori SpA 30,957 187,620 0.0% Vittoria Assicurazioni SpA 71,654 790,149 0.0% * World Duty Free SpA 76,248 647,406 0.0% * Yoox SpA 48,421 895,287 0.0% Zignago Vetro SpA 41,504 285,930 0.0% -------------------- ------------------ TOTAL ITALY 300,590,553 2.4% -------------------- ------------------ JAPAN -- (19.1%) 77 Bank, Ltd. (The) 631,000 3,522,749 0.1% #* A&A Material Corp. 42,000 41,078 0.0% A&D Co., Ltd. 44,100 208,421 0.0% ABC-Mart, Inc. 24,700 1,424,218 0.0% # Accordia Golf Co., Ltd. 264,100 2,782,650 0.0% Achilles Corp. 381,000 523,402 0.0% # Adastria Holdings Co., Ltd. 50,550 1,124,463 0.0% ADEKA Corp. 199,100 2,570,051 0.0% # Aderans Co., Ltd. 24,800 295,223 0.0% Advan Co., Ltd. 21,700 236,394 0.0% Advanex, Inc. 48,000 70,767 0.0% # Advantest Corp. 111,000 1,294,330 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) Advantest Corp. ADR 15,767 $ 184,632 0.0% # Aeon Co., Ltd. 1,471,800 14,563,219 0.1% Aeon Delight Co., Ltd. 39,700 969,836 0.0% # Aeon Fantasy Co., Ltd. 25,600 332,390 0.0% Aeon Hokkaido Corp. 1,900 11,156 0.0% Aeon Mall Co., Ltd. 13,420 246,335 0.0% #* AGORA Hospitality Group Co., Ltd. 41,000 17,051 0.0% Agrex, Inc. 4,200 51,609 0.0% Agro-Kanesho Co., Ltd. 1,400 11,385 0.0% Ahresty Corp. 63,100 353,897 0.0% Ai Holdings Corp. 60,100 1,189,180 0.0% Aica Kogyo Co., Ltd. 68,100 1,409,606 0.0% Aichi Bank, Ltd. (The) 18,200 893,716 0.0% Aichi Corp. 71,700 353,058 0.0% Aichi Steel Corp. 325,000 1,168,865 0.0% # Aichi Tokei Denki Co., Ltd. 70,000 200,980 0.0% # Aida Engineering, Ltd. 102,300 994,160 0.0% * Aigan Co., Ltd. 3,200 7,480 0.0% Ain Pharmaciez, Inc. 58,400 1,582,069 0.0% Aiphone Co., Ltd. 14,300 248,254 0.0% Air Water, Inc. 283,000 4,511,107 0.1% Airport Facilities Co., Ltd. 51,900 354,962 0.0% Aisan Industry Co., Ltd. 96,600 774,600 0.0% Aisin Seiki Co., Ltd. 303,200 10,099,217 0.1% Aizawa Securities Co., Ltd. 33,400 168,704 0.0% Ajinomoto Co., Inc. 442,000 8,345,244 0.1% # Akebono Brake Industry Co., Ltd. 215,200 838,826 0.0% Akita Bank, Ltd. (The) 391,000 1,111,203 0.0% Alconix Corp. 19,600 259,714 0.0% Alfresa Holdings Corp. 158,800 2,015,158 0.0% Alinco, Inc. 17,900 182,875 0.0% Allied Telesis Holdings K.K. 125,800 96,969 0.0% # Alpen Co., Ltd. 40,400 623,584 0.0% Alpha Corp. 3,500 33,783 0.0% Alpha Systems, Inc. 8,520 112,589 0.0% Alpine Electronics, Inc. 136,000 2,321,446 0.0% Alps Electric Co., Ltd. 289,300 4,924,225 0.1% Alps Logistics Co., Ltd. 10,900 122,278 0.0% Altech Corp. 14,000 157,415 0.0% Amada Co., Ltd. 616,000 5,379,853 0.1% Amano Corp. 132,000 1,430,689 0.0% Amiyaki Tei Co., Ltd. 12,200 435,773 0.0% ANA Holdings, Inc. 470,000 1,089,769 0.0% Anest Iwata Corp. 68,300 496,876 0.0% Anritsu Corp. 328,700 2,544,909 0.0% AOI Electronic Co., Ltd. 2,700 127,364 0.0% AOI Pro, Inc. 5,500 34,046 0.0% AOKI Holdings, Inc. 106,900 1,199,021 0.0% Aomori Bank, Ltd. (The) 383,000 1,142,799 0.0% Aoyama Trading Co., Ltd. 89,700 2,133,511 0.0% Aozora Bank, Ltd. 796,000 2,797,865 0.0% Arakawa Chemical Industries, Ltd. 30,500 312,392 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) Arata Corp. 4,000 $ 11,959 0.0% Araya Industrial Co., Ltd. 59,000 93,595 0.0% Arcland Sakamoto Co., Ltd. 43,700 974,210 0.0% Arcs Co., Ltd. 71,873 1,583,961 0.0% Argo Graphics, Inc. 500 9,041 0.0% Ariake Japan Co., Ltd. 25,900 583,767 0.0% Arisawa Manufacturing Co., Ltd. 93,900 688,824 0.0% #* Arrk Corp. 90,600 128,516 0.0% # Artnature, Inc. 23,200 313,746 0.0% As One Corp. 26,790 765,575 0.0% Asahi Broadcasting Corp. 4,900 33,117 0.0% # Asahi Co., Ltd. 56,100 623,766 0.0% Asahi Diamond Industrial Co., Ltd. 95,700 1,161,273 0.0% Asahi Glass Co., Ltd. 1,182,000 6,151,933 0.1% Asahi Group Holdings, Ltd. 113,900 3,533,048 0.1% Asahi Holdings, Inc. 71,800 1,195,266 0.0% Asahi Intecc Co., Ltd. 21,600 989,906 0.0% Asahi Kasei Corp. 1,473,000 12,087,747 0.1% Asahi Kogyosha Co., Ltd. 31,000 109,048 0.0% Asahi Organic Chemicals Industry Co., Ltd. 120,000 279,869 0.0% #* Asanuma Corp. 138,000 217,353 0.0% # Asatsu-DK, Inc. 78,400 1,978,551 0.0% Asax Co., Ltd. 2,200 26,554 0.0% #* Ashimori Industry Co., Ltd. 116,000 204,377 0.0% #* Asia Growth Capital, Ltd. 136,600 190,262 0.0% Asics Corp. 61,600 1,442,482 0.0% ASKA Pharmaceutical Co., Ltd. 47,300 521,959 0.0% # ASKUL Corp. 23,500 488,335 0.0% Astellas Pharma, Inc. 223,000 3,461,069 0.1% Asunaro Aoki Construction Co., Ltd. 42,800 302,355 0.0% # Atom Corp. 31,500 172,140 0.0% Autobacs Seven Co., Ltd. 131,100 1,923,213 0.0% Avex Group Holdings, Inc. 117,200 1,740,833 0.0% Awa Bank, Ltd. (The) 363,000 2,176,773 0.0% Axell Corp. 15,800 216,887 0.0% Axial Retailing, Inc. 10,100 203,435 0.0% Azbil Corp. 118,300 2,852,861 0.0% Bandai Namco Holdings, Inc. 123,200 3,057,546 0.0% Bando Chemical Industries, Ltd. 150,000 595,491 0.0% # Bank of Iwate, Ltd. (The) 29,900 1,368,392 0.0% Bank of Kochi, Ltd. (The) 12,000 15,458 0.0% Bank of Kyoto, Ltd. (The) 620,000 5,372,637 0.1% Bank of Nagoya, Ltd. (The) 318,000 1,287,408 0.0% # Bank of Okinawa, Ltd. (The) 33,050 1,447,821 0.0% Bank of Saga, Ltd. (The) 246,000 568,895 0.0% Bank of the Ryukyus, Ltd. 103,500 1,671,448 0.0% Bank of Yokohama, Ltd. (The) 949,000 5,484,499 0.1% Belc Co., Ltd. 22,138 611,507 0.0% Belluna Co., Ltd. 97,700 436,908 0.0% Benefit One, Inc. 10,300 91,587 0.0% # Benesse Holdings, Inc. 42,000 1,325,280 0.0% Best Denki Co., Ltd. 81,600 99,148 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) # Bic Camera, Inc. 232,600 $ 2,039,390 0.0% # Bit-isle, Inc. 73,400 313,841 0.0% BML, Inc. 33,300 994,365 0.0% Bookoff Corp. 32,200 241,879 0.0% BP Castrol K.K. 2,200 21,273 0.0% Bridgestone Corp. 231,800 7,746,231 0.1% Broadleaf Co., Ltd. 2,000 31,610 0.0% # BRONCO BILLY Co., Ltd. 800 22,060 0.0% Brother Industries, Ltd. 252,900 4,502,772 0.1% Bunka Shutter Co., Ltd. 125,000 1,081,130 0.0% C Uyemura & Co., Ltd. 3,300 156,954 0.0% Calbee, Inc. 53,600 1,877,305 0.0% Calsonic Kansei Corp. 486,000 2,690,713 0.0% # Can Do Co., Ltd. 13,500 199,048 0.0% Canon Electronics, Inc. 48,200 880,253 0.0% Canon Marketing Japan, Inc. 105,900 2,165,042 0.0% Canon, Inc. 298,034 9,143,730 0.1% # Canon, Inc. Sponsored ADR 59,377 1,841,875 0.0% Capcom Co., Ltd. 115,800 1,799,218 0.0% Career Design Center Co., Ltd. 5,500 55,091 0.0% Carlit Holdings Co., Ltd. 22,000 115,301 0.0% # Casio Computer Co., Ltd. 241,500 3,850,846 0.1% Cawachi, Ltd. 40,800 634,357 0.0% Central Glass Co., Ltd. 516,000 1,686,881 0.0% Central Japan Railway Co. 27,400 4,086,680 0.1% Central Sports Co., Ltd. 1,100 17,484 0.0% Century Tokyo Leasing Corp. 113,130 2,962,529 0.0% Chiba Bank, Ltd. (The) 756,000 5,369,871 0.1% Chiba Kogyo Bank, Ltd. (The) 127,600 899,613 0.0% CHIMNEY Co., Ltd. 4,300 84,406 0.0% Chino Corp. 13,300 146,544 0.0% Chiyoda Co., Ltd. 50,300 995,230 0.0% Chiyoda Integre Co., Ltd. 35,200 606,871 0.0% Chodai Co., Ltd. 4,000 30,627 0.0% Chori Co., Ltd. 25,300 371,876 0.0% * Chubu Electric Power Co., Inc. 254,700 3,056,291 0.0% Chubu Shiryo Co., Ltd. 29,700 181,144 0.0% Chuetsu Pulp & Paper Co., Ltd. 148,000 239,804 0.0% * Chugai Mining Co., Ltd. 259,700 65,778 0.0% Chugai Pharmaceutical Co., Ltd. 21,300 665,896 0.0% Chugai Ro Co., Ltd. 116,000 230,208 0.0% Chugoku Bank, Ltd. (The) 264,500 3,909,456 0.1% Chugoku Electric Power Co., Inc. (The) 116,000 1,529,787 0.0% Chugoku Marine Paints, Ltd. 137,000 1,082,675 0.0% Chukyo Bank, Ltd. (The) 192,000 353,526 0.0% Chuo Gyorui Co., Ltd. 38,000 88,411 0.0% Chuo Spring Co., Ltd. 60,000 176,749 0.0% Citizen Holdings Co., Ltd. 526,850 3,461,052 0.1% CKD Corp. 131,500 1,153,627 0.0% #* Clarion Co., Ltd. 501,000 1,648,724 0.0% Cleanup Corp. 55,600 488,345 0.0% # CMIC Holdings Co., Ltd. 38,600 588,226 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) * CMK Corp. 66,500 $ 165,916 0.0% * Co-Op Chemical Co., Ltd. 14,000 13,208 0.0% Coca-Cola Central Japan Co., Ltd. 110,867 1,994,836 0.0% Coca-Cola West Co., Ltd. 144,602 2,064,241 0.0% Cocokara fine, Inc. 33,620 817,279 0.0% #* COLOPL, Inc. 20,800 673,724 0.0% # Colowide Co., Ltd. 73,700 883,116 0.0% Computer Engineering & Consulting, Ltd. 20,400 192,598 0.0% COMSYS Holdings Corp. 191,900 3,425,910 0.1% CONEXIO Corp. 30,400 328,761 0.0% # COOKPAD, Inc. 23,400 763,722 0.0% Core Corp. 1,100 8,053 0.0% Corona Corp. 21,700 225,880 0.0% Cosel Co., Ltd. 27,300 317,657 0.0% Cosmo Oil Co., Ltd. 1,209,000 1,883,844 0.0% * Cosmos Initia Co., Ltd. 17,500 72,199 0.0% # Cosmos Pharmaceutical Corp. 9,100 1,301,110 0.0% Create Medic Co., Ltd. 3,500 32,478 0.0% Create SD Holdings Co., Ltd. 10,800 389,197 0.0% Credit Saison Co., Ltd. 156,300 3,299,547 0.0% Cresco, Ltd. 35,100 456,987 0.0% # CROOZ, Inc. 11,000 201,731 0.0% # Cross Plus, Inc. 2,000 14,325 0.0% CTI Engineering Co., Ltd. 24,600 390,538 0.0% Cybernet Systems Co., Ltd. 4,600 20,489 0.0% Cybozu, Inc. 13,000 43,490 0.0% # DA Consortium, Inc. 82,600 343,628 0.0% Dai Nippon Printing Co., Ltd. 421,000 4,149,709 0.1% Dai Nippon Toryo Co., Ltd. 308,000 432,423 0.0% Dai-Dan Co., Ltd. 42,000 237,728 0.0% Dai-ichi Life Insurance Co., Ltd. (The) 340,900 5,159,078 0.1% Dai-ichi Seiko Co., Ltd. 12,100 229,165 0.0% Daibiru Corp. 123,900 1,395,671 0.0% Daicel Corp. 584,000 6,732,038 0.1% Daido Kogyo Co., Ltd. 84,000 204,397 0.0% Daido Metal Co., Ltd. 108,000 1,268,963 0.0% # Daido Steel Co., Ltd. 615,000 2,359,293 0.0% Daidoh, Ltd. 34,800 159,150 0.0% #* Daiei, Inc. (The) 682,500 776,946 0.0% Daifuku Co., Ltd. 173,000 2,003,691 0.0% Daihatsu Diesel Manufacturing Co., Ltd. 22,000 180,770 0.0% # Daihatsu Motor Co., Ltd. 351,600 4,990,244 0.1% Daihen Corp. 224,000 793,085 0.0% # Daiho Corp. 99,000 460,456 0.0% Daiichi Jitsugyo Co., Ltd. 82,000 421,607 0.0% # Daiichi Kigenso Kagaku-Kogyo Co., Ltd. 3,400 149,567 0.0% Daiichi Sankyo Co., Ltd. 296,900 4,465,920 0.1% Daiichikosho Co., Ltd. 59,500 1,501,569 0.0% Daiken Corp. 111,000 249,806 0.0% # Daiken Medical Co., Ltd. 15,300 294,340 0.0% Daiki Aluminium Industry Co., Ltd. 80,000 222,117 0.0% Daikin Industries, Ltd. 55,100 3,444,195 0.1% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) Daikoku Denki Co., Ltd. 20,900 $ 343,966 0.0% Daikokutenbussan Co., Ltd. 17,100 497,568 0.0% # Daikyo, Inc. 825,392 1,551,727 0.0% Dainichi Co., Ltd. 12,700 88,678 0.0% Dainichiseika Color & Chemicals Manufacturing Co., Ltd. 140,000 759,362 0.0% # Daio Paper Corp. 273,000 2,346,030 0.0% Daisan Bank, Ltd. (The) 262,000 417,507 0.0% Daiseki Co., Ltd. 62,325 1,091,367 0.0% Daishi Bank, Ltd. (The) 753,000 2,664,607 0.0% # Daishinku Corp. 87,000 271,418 0.0% Daiso Co., Ltd. 145,000 472,910 0.0% #* Daisue Construction Co., Ltd. 11,700 101,119 0.0% # Daisyo Corp. 23,700 286,372 0.0% Daito Bank, Ltd. (The) 261,000 343,807 0.0% Daito Electron Co., Ltd. 1,000 4,377 0.0% Daito Pharmaceutical Co., Ltd. 17,300 311,258 0.0% Daito Trust Construction Co., Ltd. 38,800 4,834,509 0.1% Daiwa House Industry Co., Ltd. 300,000 5,675,877 0.1% Daiwa Industries, Ltd. 29,000 221,128 0.0% Daiwa Odakyu Construction Co. 4,500 33,374 0.0% Daiwa Securities Group, Inc. 1,270,000 10,036,755 0.1% Daiwabo Holdings Co., Ltd. 598,000 1,090,788 0.0% DBS Co Ltd 23,500 145,512 0.0% DC Co., Ltd. 33,300 153,881 0.0% DCM Holdings Co., Ltd. 249,580 1,672,019 0.0% # Dena Co., Ltd. 298,700 3,859,847 0.1% Denki Kagaku Kogyo K.K. 1,580,000 5,161,063 0.1% Denso Corp. 118,700 5,440,449 0.1% Dentsu, Inc. 63,300 2,353,462 0.0% Denyo Co., Ltd. 23,200 307,620 0.0% Descente, Ltd. 79,000 738,456 0.0% DIC Corp. 2,125,000 4,355,166 0.1% # Disco Corp. 22,900 1,563,136 0.0% # DKS Co., Ltd. 36,000 135,268 0.0% # DMG Mori Seiki Co., Ltd. 160,800 1,893,836 0.0% DMW Corp. 900 14,242 0.0% Don Quijote Holdings Co., Ltd. 24,500 1,467,939 0.0% Doshisha Co., Ltd. 41,600 687,941 0.0% Doutor Nichires Holdings Co., Ltd. 64,223 956,750 0.0% Dowa Holdings Co., Ltd. 459,500 3,869,274 0.1% Dr Ci:Labo Co., Ltd. 24,200 768,693 0.0% Dream Incubator, Inc. 6,200 96,474 0.0% DTS Corp. 46,000 946,375 0.0% Dunlop Sports Co., Ltd. 22,300 261,119 0.0% Duskin Co., Ltd. 56,600 926,882 0.0% Dynic Corp. 14,000 22,407 0.0% Eagle Industry Co., Ltd. 66,900 1,283,185 0.0% # Earth Chemical Co., Ltd. 12,900 473,053 0.0% East Japan Railway Co. 63,500 4,959,555 0.1% Ebara Corp. 822,000 4,516,439 0.1% # Ebara Jitsugyo Co., Ltd. 11,000 137,780 0.0% # EDION Corp. 223,100 1,591,759 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) # Ehime Bank, Ltd. (The) 286,000 $ 633,087 0.0% Eidai Co., Ltd. 28,000 114,416 0.0% Eighteenth Bank, Ltd. (The) 331,000 937,689 0.0% Eiken Chemical Co., Ltd. 36,000 628,299 0.0% Eisai Co., Ltd. 42,500 1,662,140 0.0% Eizo Corp. 48,000 877,581 0.0% Elecom Co., Ltd. 23,200 498,366 0.0% Electric Power Development Co., Ltd. 45,700 1,598,180 0.0% Elematec Corp. 11,103 238,763 0.0% EM Systems Co., Ltd. 6,800 105,116 0.0% # Emori Group Holdings Co., Ltd. 21,300 217,361 0.0% en-japan, Inc. 16,600 292,651 0.0% # Endo Lighting Corp. 26,800 302,294 0.0% Enplas Corp. 18,100 684,625 0.0% * Enshu, Ltd. 100,000 108,902 0.0% EPS Corp. 36,700 433,773 0.0% ESPEC Corp. 37,900 349,054 0.0% Excel Co., Ltd. 16,400 205,245 0.0% Exedy Corp. 90,900 2,297,706 0.0% Ezaki Glico Co., Ltd. 55,500 1,796,610 0.0% F-Tech, Inc. 20,200 218,708 0.0% F@N Communications, Inc. 47,900 418,308 0.0% Faith, Inc. 9,480 86,949 0.0% FALCO HOLDINGS Co., Ltd. 8,600 95,019 0.0% # FamilyMart Co., Ltd. 40,500 1,626,196 0.0% Fancl Corp. 85,400 1,171,475 0.0% FANUC Corp. 22,200 3,912,434 0.1% Fast Retailing Co., Ltd. 12,300 4,572,614 0.1% # FCC Co., Ltd. 94,800 1,613,385 0.0% #* FDK Corp. 200,000 265,296 0.0% * Feed One Holdings Co., Ltd. 241,520 232,220 0.0% Felissimo Corp. 1,200 12,022 0.0% # Ferrotec Corp. 97,100 529,333 0.0% # FIDEA Holdings Co., Ltd. 200,700 401,013 0.0% # Fields Corp. 41,400 542,077 0.0% # Financial Products Group Co., Ltd. 38,900 400,534 0.0% * First Baking Co., Ltd. 12,000 14,563 0.0% # First Juken Co., Ltd. 2,300 25,810 0.0% # Foster Electric Co., Ltd. 61,600 975,911 0.0% # FP Corp. 59,500 1,714,842 0.0% France Bed Holdings Co., Ltd. 216,000 356,260 0.0% Freund Corp. 5,000 45,204 0.0% # Fudo Tetra Corp. 265,500 651,227 0.0% # Fuji Co., Ltd. 32,300 635,769 0.0% # Fuji Corp., Ltd. 70,700 402,005 0.0% Fuji Electric Co., Ltd. 1,037,000 4,556,028 0.1% # Fuji Electronics Co., Ltd. 15,300 182,729 0.0% Fuji Furukawa Engineering & Construction Co., Ltd. 10,000 24,826 0.0% Fuji Heavy Industries, Ltd. 366,300 12,191,617 0.1% Fuji Kiko Co., Ltd. 37,000 184,248 0.0% Fuji Kosan Co., Ltd. 11,000 62,200 0.0% # Fuji Kyuko Co., Ltd. 79,000 820,935 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) Fuji Media Holdings, Inc. 48,300 $ 666,433 0.0% # Fuji Oil Co., Ltd.(6581361) 131,000 396,695 0.0% Fuji Oil Co., Ltd.(6356848) 143,100 2,272,549 0.0% Fuji Pharma Co., Ltd. 13,800 255,659 0.0% Fuji Seal International, Inc. 52,500 1,582,538 0.0% Fuji Soft, Inc. 50,500 1,250,173 0.0% # Fujibo Holdings, Inc. 239,000 662,425 0.0% Fujicco Co., Ltd. 33,600 501,284 0.0% FUJIFILM Holdings Corp. 247,675 8,314,100 0.1% Fujikura Kasei Co., Ltd. 51,200 264,993 0.0% # Fujikura Rubber, Ltd. 34,900 251,731 0.0% Fujikura, Ltd. 851,000 3,574,717 0.1% Fujimi, Inc. 44,700 614,217 0.0% Fujimori Kogyo Co., Ltd. 31,000 855,947 0.0% #* Fujisash Co., Ltd. 183,500 258,249 0.0% Fujishoji Co., Ltd. 2,800 32,404 0.0% # Fujita Kanko, Inc. 33,000 115,969 0.0% # Fujitec Co., Ltd. 157,200 1,569,461 0.0% Fujitsu Frontech, Ltd. 38,300 524,012 0.0% Fujitsu General, Ltd. 101,000 1,264,359 0.0% Fujitsu, Ltd. 1,287,292 7,826,044 0.1% Fujiya Co., Ltd. 116,000 206,448 0.0% FuKoKu Co., Ltd. 8,400 93,043 0.0% Fukuda Corp. 40,000 421,186 0.0% Fukui Bank, Ltd. (The) 415,000 994,413 0.0% Fukuoka Financial Group, Inc. 643,600 3,293,333 0.0% Fukushima Bank, Ltd. (The) 500,000 388,776 0.0% Fukushima Industries Corp. 30,800 605,264 0.0% # Fukuyama Transporting Co., Ltd. 207,000 1,038,831 0.0% # Fumakilla, Ltd. 15,000 47,119 0.0% Funai Soken Holdings, Inc. 33,700 297,188 0.0% # Furukawa Battery Co., Ltd. (The) 74,000 619,663 0.0% # Furukawa Co., Ltd. 530,000 1,041,663 0.0% # Furukawa Electric Co., Ltd. 2,100,067 3,706,413 0.1% # Furuno Electric Co., Ltd. 47,800 392,554 0.0% Furusato Industries, Ltd. 17,400 262,534 0.0% # Furuya Metal Co., Ltd. 1,400 33,238 0.0% Fuso Chemical Co., Ltd. 1,000 10,656 0.0% Fuso Pharmaceutical Industries, Ltd. 108,000 317,776 0.0% Futaba Industrial Co., Ltd. 150,000 836,329 0.0% Future Architect, Inc. 17,200 98,372 0.0% Fuyo General Lease Co., Ltd. 24,400 963,346 0.0% G-7 Holdings, Inc. 6,500 53,508 0.0% G-Tekt Corp. 45,100 449,843 0.0% Gakken Holdings Co., Ltd. 103,000 233,832 0.0% GCA Savvian Corp. 19,200 206,246 0.0% Gecoss Corp. 36,200 600,334 0.0% Genki Sushi Co., Ltd. 3,500 60,952 0.0% Genky Stores, Inc. 3,700 184,114 0.0% # Geo Holdings Corp. 106,100 936,864 0.0% # GLOBERIDE, Inc. 284,000 384,878 0.0% Glory, Ltd. 112,300 2,893,911 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) # GMO internet, Inc. 122,800 $ 1,031,088 0.0% # GMO Payment Gateway, Inc. 27,600 570,505 0.0% Godo Steel, Ltd. 391,000 542,875 0.0% Goldcrest Co., Ltd. 52,230 944,938 0.0% Goldwin, Inc. 66,000 370,882 0.0% # Gourmet Kineya Co., Ltd. 28,000 219,945 0.0% # Gree, Inc. 217,900 1,560,512 0.0% GS Yuasa Corp. 543,000 2,711,004 0.0% # GSI Creos Corp. 122,000 159,581 0.0% Gulliver International Co., Ltd. 114,600 1,000,533 0.0% # Gun-Ei Chemical Industry Co., Ltd. 124,000 383,276 0.0% # GungHo Online Entertainment, Inc. 218,700 881,491 0.0% Gunma Bank, Ltd. (The) 623,000 3,887,815 0.1% Gunze, Ltd. 450,000 1,252,369 0.0% # Gurunavi, Inc. 56,800 778,346 0.0% H-One Co., Ltd. 20,800 127,321 0.0% H2O Retailing Corp. 196,760 3,272,545 0.0% Hachijuni Bank, Ltd. (The) 665,000 4,071,670 0.1% Hagihara Industries, Inc. 7,500 109,447 0.0% Hagoromo Foods Corp. 3,000 29,504 0.0% Hakudo Co., Ltd. 5,600 52,728 0.0% Hakuhodo DY Holdings, Inc. 328,000 3,243,761 0.0% Hakuto Co., Ltd. 30,000 294,868 0.0% Hamakyorex Co., Ltd. 17,500 561,992 0.0% Hamamatsu Photonics K.K. 44,400 2,017,106 0.0% Hankyu Hanshin Holdings, Inc. 1,399,000 8,225,517 0.1% Hanwa Co., Ltd. 507,000 1,828,059 0.0% # Happinet Corp. 31,400 538,587 0.0% Hard Off Corp. Co., Ltd. 16,700 135,925 0.0% Harima Chemicals Group, Inc. 22,000 93,819 0.0% # Harmonic Drive Systems, Inc. 18,600 240,124 0.0% Haruyama Trading Co., Ltd. 6,500 41,192 0.0% Haseko Corp. 368,100 2,698,145 0.0% # Hazama Ando Corp. 299,280 2,012,014 0.0% Heiwa Corp. 115,200 2,358,877 0.0% Heiwa Real Estate Co., Ltd. 125,900 2,068,642 0.0% Heiwado Co., Ltd. 80,900 1,506,027 0.0% HI-LEX Corp. 16,500 429,812 0.0% Hibiya Engineering, Ltd. 18,300 272,777 0.0% Hiday Hidaka Corp. 19,164 554,754 0.0% # Higashi Nihon House Co., Ltd. 133,300 564,975 0.0% # Higashi-Nippon Bank, Ltd. (The) 277,000 701,794 0.0% # Higo Bank, Ltd. (The) 309,000 1,758,874 0.0% Hikari Tsushin, Inc. 22,700 1,505,809 0.0% # Himaraya Co., Ltd. 6,000 51,766 0.0% Hino Motors, Ltd. 140,100 2,050,094 0.0% Hioki EE Corp. 5,800 89,414 0.0% Hiramatsu, Inc. 46,800 258,944 0.0% Hiroshima Bank, Ltd. (The) 929,000 4,644,421 0.1% # HIS Co., Ltd. 23,900 620,873 0.0% Hisaka Works, Ltd. 11,000 99,982 0.0% Hisamitsu Pharmaceutical Co., Inc. 22,000 740,547 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) Hitachi Capital Corp. 132,100 $ 3,265,193 0.0% Hitachi Chemical Co., Ltd. 177,100 3,121,471 0.0% # Hitachi Construction Machinery Co., Ltd. 184,200 3,767,696 0.1% Hitachi High-Technologies Corp. 96,400 2,944,971 0.0% # Hitachi Koki Co., Ltd. 133,500 1,147,857 0.0% # Hitachi Kokusai Electric, Inc. 148,000 2,216,889 0.0% Hitachi Metals Techno, Ltd. 3,500 41,087 0.0% Hitachi Metals, Ltd. 152,730 2,578,510 0.0% # Hitachi Transport System, Ltd. 106,600 1,410,700 0.0% # Hitachi Zosen Corp. 414,500 2,199,822 0.0% Hitachi, Ltd. 1,787,000 14,041,300 0.1% Hitachi, Ltd. ADR 89,223 7,102,151 0.1% # Hochiki Corp. 34,000 284,764 0.0% Hodogaya Chemical Co., Ltd. 97,000 175,397 0.0% Hogy Medical Co., Ltd. 25,100 1,303,939 0.0% #* Hokkaido Electric Power Co., Inc. 181,300 1,522,076 0.0% # Hokkaido Gas Co., Ltd. 75,000 193,972 0.0% Hokkan Holdings, Ltd. 70,000 179,476 0.0% Hokko Chemical Industry Co., Ltd. 27,000 91,133 0.0% Hokkoku Bank, Ltd. (The) 598,000 2,075,346 0.0% Hokuetsu Bank, Ltd. (The) 410,000 795,912 0.0% Hokuetsu Industries Co., Ltd. 34,000 318,608 0.0% # Hokuetsu Kishu Paper Co., Ltd. 317,095 1,319,642 0.0% Hokuhoku Financial Group, Inc. 2,039,000 4,096,107 0.1% # Hokuriku Electric Industry Co., Ltd. 140,000 213,774 0.0% Hokuriku Electric Power Co. 164,500 2,220,799 0.0% Hokuriku Electrical Construction Co., Ltd. 9,000 47,305 0.0% Hokuto Corp. 44,900 818,624 0.0% Honda Motor Co., Ltd. 825,300 26,384,206 0.2% # Honda Motor Co., Ltd. Sponsored ADR 417,161 13,399,211 0.1% # Honeys Co., Ltd. 49,730 464,941 0.0% # Hoosiers Holdings Co., Ltd. 82,900 396,498 0.0% Horiba, Ltd. 78,900 2,854,425 0.0% Hoshizaki Electric Co., Ltd. 30,100 1,457,974 0.0% # Hosokawa Micron Corp. 62,000 347,778 0.0% House Foods Group, Inc. 134,600 2,303,314 0.0% Howa Machinery, Ltd. 23,300 155,225 0.0% Hoya Corp. 121,200 4,288,884 0.1% Hurxley Corp. 2,200 16,953 0.0% Hyakugo Bank, Ltd. (The) 529,000 2,230,918 0.0% Hyakujushi Bank, Ltd. (The) 427,000 1,388,142 0.0% I-Net Corp/Kanagawa 8,800 65,989 0.0% Ibiden Co., Ltd. 267,000 4,013,536 0.1% IBJ Leasing Co., Ltd. 19,200 454,935 0.0% # Ichibanya Co., Ltd. 12,100 569,050 0.0% # Ichiken Co., Ltd. 36,000 106,170 0.0% # Ichikoh Industries, Ltd. 118,000 270,174 0.0% Ichinen Holdings Co., Ltd. 35,772 297,036 0.0% Ichiyoshi Securities Co., Ltd. 77,100 913,890 0.0% Idec Corp. 45,800 373,902 0.0% Idemitsu Kosan Co., Ltd. 182,100 3,521,745 0.1% # Ihara Chemical Industry Co., Ltd. 59,000 597,988 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) # IHI Corp. 963,000 $ 4,642,266 0.1% Iida Group Holdings Co., Ltd. 140,496 1,561,214 0.0% Iino Kaiun Kaisha, Ltd. 218,000 1,204,594 0.0% * IJT Technology Holdings Co., Ltd. 22,760 100,246 0.0% # Ikegami Tsushinki Co., Ltd. 48,000 52,892 0.0% Ikyu Corp. 9,300 126,568 0.0% Imasen Electric Industrial 38,900 660,760 0.0% Imperial Hotel, Ltd. 15,100 326,507 0.0% Inaba Denki Sangyo Co., Ltd. 49,400 1,721,976 0.0% Inaba Seisakusho Co., Ltd. 1,800 21,989 0.0% Inabata & Co., Ltd. 114,400 1,105,795 0.0% Inageya Co., Ltd. 24,600 260,155 0.0% Ines Corp. 68,000 563,012 0.0% Infocom Corp. 31,000 238,565 0.0% Information Services International-Dentsu, Ltd. 32,600 345,374 0.0% Innotech Corp. 17,700 84,985 0.0% Intage Holdings, Inc. 8,600 107,210 0.0% # Internet Initiative Japan, Inc. 84,900 1,490,694 0.0% # Inui Global Logistics Co., Ltd. 11,400 107,431 0.0% # Iriso Electronics Co., Ltd. 13,900 947,132 0.0% Ise Chemical Corp. 18,000 122,476 0.0% # Iseki & Co., Ltd. 597,000 1,382,768 0.0% Isetan Mitsukoshi Holdings, Ltd. 254,540 3,465,324 0.1% #* Ishihara Sangyo Kaisha, Ltd. 1,030,000 846,540 0.0% Ishii Iron Works Co., Ltd. 29,000 62,926 0.0% Ishizuka Glass Co., Ltd. 12,000 17,334 0.0% Isuzu Motors, Ltd. 388,200 5,064,990 0.1% IT Holdings Corp. 225,700 3,687,796 0.1% Itfor, Inc. 21,800 92,281 0.0% # Ito En, Ltd. 45,700 908,837 0.0% ITOCHU Corp. 857,000 10,359,879 0.1% Itochu Enex Co., Ltd. 130,100 833,493 0.0% Itochu Techno-Solutions Corp. 38,600 1,534,683 0.0% Itochu-Shokuhin Co., Ltd. 10,400 343,456 0.0% Itoham Foods, Inc. 316,000 1,625,417 0.0% Itoki Corp. 86,800 487,889 0.0% # IwaiCosmo Holdings, Inc. 57,400 633,101 0.0% Iwaki & Co., Ltd. 19,000 40,128 0.0% Iwasaki Electric Co., Ltd. 93,000 205,065 0.0% # Iwatani Corp. 525,000 3,589,500 0.1% Iwatsu Electric Co., Ltd. 123,000 99,446 0.0% Iyo Bank, Ltd. (The) 445,657 4,758,910 0.1% Izumi Co., Ltd. 59,000 1,898,235 0.0% #* Izutsuya Co., Ltd. 162,000 92,366 0.0% J Front Retailing Co., Ltd. 463,500 6,169,114 0.1% # J-Oil Mills, Inc. 280,000 909,628 0.0% # Jalux, Inc. 2,900 33,598 0.0% Jamco Corp. 14,900 329,229 0.0% #* Janome Sewing Machine Co., Ltd. 650,000 1,008,708 0.0% Japan Airport Terminal Co., Ltd. 61,700 2,434,258 0.0% Japan Aviation Electronics Industry, Ltd. 136,000 2,694,542 0.0% #* Japan Communications, Inc. 182,800 801,148 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) Japan Digital Laboratory Co., Ltd. 21,100 $ 375,813 0.0% # Japan Drilling Co., Ltd. 16,800 702,343 0.0% Japan Exchange Group, Inc. 141,100 3,500,135 0.1% # Japan Medical Dynamic Marketing, Inc. 2,600 12,214 0.0% Japan Oil Transportation Co., Ltd. 2,000 4,158 0.0% Japan Pulp & Paper Co., Ltd. 134,000 396,659 0.0% * Japan Radio Co., Ltd. 115,000 411,169 0.0% # Japan Steel Works, Ltd. (The) 647,000 2,314,339 0.0% Japan Tobacco, Inc. 222,200 7,581,250 0.1% Japan Transcity Corp. 74,000 250,217 0.0% Japan Vilene Co., Ltd. 72,000 399,827 0.0% Japan Wool Textile Co., Ltd. (The) 113,000 764,617 0.0% JBCC Holdings, Inc. 28,900 199,872 0.0% JCU Corp. 7,400 307,782 0.0% Jeol, Ltd. 205,000 985,977 0.0% JFE Holdings, Inc. 301,008 5,971,989 0.1% JGC Corp. 87,000 2,235,879 0.0% Jimoto Holdings, Inc. 6,000 12,598 0.0% # Jin Co., Ltd. 21,600 470,748 0.0% JK Holdings Co., Ltd. 10,900 54,772 0.0% JMS Co., Ltd. 40,000 106,052 0.0% # Joban Kosan Co., Ltd. 65,000 86,270 0.0% Joshin Denki Co., Ltd. 65,000 592,216 0.0% # Jowa Holdings Co., Ltd. 25,000 888,230 0.0% # Joyo Bank, Ltd. (The) 577,000 3,089,638 0.0% # JP-Holdings, Inc. 105,700 392,415 0.0% # JSP Corp. 37,400 593,009 0.0% JSR Corp. 159,300 2,868,713 0.0% JTEKT Corp. 316,500 5,090,325 0.1% #* Juki Corp. 187,000 583,176 0.0% Juroku Bank, Ltd. (The) 524,000 2,066,647 0.0% * Justsystems Corp. 43,500 328,201 0.0% #* JVC Kenwood Corp. 383,370 732,942 0.0% JX Holdings, Inc. 2,127,170 9,112,050 0.1% K&O Energy Group, Inc. 21,000 265,180 0.0% K's Holdings Corp. 90,320 2,494,393 0.0% # kabu.com Securities Co., Ltd. 236,900 1,177,749 0.0% # Kabuki-Za Co., Ltd. 1,000 43,625 0.0% #* Kadokawa Dwango Corp. 78,753 1,444,298 0.0% Kaga Electronics Co., Ltd. 48,700 560,977 0.0% # Kagome Co., Ltd. 57,700 936,101 0.0% Kagoshima Bank, Ltd. (The) 397,000 2,574,591 0.0% Kajima Corp. 535,000 2,380,512 0.0% Kakaku.com, Inc. 135,400 1,843,536 0.0% Kaken Pharmaceutical Co., Ltd. 117,000 2,931,319 0.0% Kakiyasu Honten Co., Ltd. 200 3,019 0.0% Kameda Seika Co., Ltd. 25,400 767,466 0.0% Kamei Corp. 44,500 318,835 0.0% Kamigumi Co., Ltd. 436,000 4,203,846 0.1% Kanaden Corp. 27,000 189,778 0.0% # Kanagawa Chuo Kotsu Co., Ltd. 24,000 116,438 0.0% # Kanamoto Co., Ltd. 58,100 2,120,676 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) Kandenko Co., Ltd. 282,000 $ 1,479,653 0.0% Kaneka Corp. 655,000 3,598,791 0.1% Kanematsu Corp. 1,158,000 1,842,504 0.0% Kanematsu Electronics, Ltd. 10,900 141,077 0.0% * Kansai Electric Power Co., Inc. (The) 278,500 2,750,330 0.0% Kansai Paint Co., Ltd. 167,000 2,552,852 0.0% Kansai Super Market, Ltd. 1,500 10,330 0.0% # Kansai Urban Banking Corp. 61,600 679,419 0.0% * Kanto Denka Kogyo Co., Ltd. 134,000 527,078 0.0% Kao Corp. 104,300 4,067,082 0.1% Kasai Kogyo Co., Ltd. 78,500 694,226 0.0% # Kasumi Co., Ltd. 79,700 750,124 0.0% Katakura Chikkarin Co., Ltd. 20,000 46,191 0.0% Katakura Industries Co., Ltd. 53,600 648,385 0.0% Kato Sangyo Co., Ltd. 50,900 1,083,066 0.0% Kato Works Co., Ltd. 121,128 891,794 0.0% # KAWADA TECHNOLOGIES, Inc. 6,800 300,910 0.0% # Kawai Musical Instruments Manufacturing Co., Ltd. 17,200 323,454 0.0% Kawakin Holdings Co., Ltd. 10,000 24,156 0.0% Kawasaki Heavy Industries, Ltd. 1,112,000 4,367,813 0.1% # Kawasaki Kasei Chemicals, Ltd. 23,000 31,798 0.0% Kawasaki Kinkai Kisen Kaisha, Ltd. 28,000 84,482 0.0% # Kawasaki Kisen Kaisha, Ltd. 1,925,000 4,385,889 0.1% Kawasumi Laboratories, Inc. 24,200 162,875 0.0% KDDI Corp. 213,400 14,013,860 0.1% # Keihan Electric Railway Co., Ltd. 794,000 3,891,527 0.1% Keihanshin Building Co., Ltd. 69,200 389,692 0.0% Keihin Co., Ltd. 87,000 126,629 0.0% Keihin Corp. 130,200 1,644,949 0.0% Keikyu Corp. 183,000 1,522,543 0.0% Keio Corp. 226,000 1,716,635 0.0% Keisei Electric Railway Co., Ltd. 234,000 2,750,328 0.0% Keiyo Bank, Ltd. (The) 340,000 1,777,591 0.0% # Keiyo Co., Ltd. 59,800 272,382 0.0% # Kenko Mayonnaise Co., Ltd. 11,400 122,987 0.0% Kewpie Corp. 148,400 2,565,057 0.0% Key Coffee, Inc. 36,200 521,797 0.0% Keyence Corp. 5,005 2,425,334 0.0% KFC Holdings Japan, Ltd. 5,000 95,276 0.0% #* KI Holdings Co., Ltd. 17,000 84,309 0.0% # Kikkoman Corp. 104,050 2,393,275 0.0% # Kimoto Co., Ltd. 100,700 282,167 0.0% Kimura Chemical Plants Co., Ltd. 7,700 33,819 0.0% King Jim Co., Ltd. 3,500 24,308 0.0% Kintetsu Corp. 682,000 2,372,399 0.0% #* Kintetsu Department Store Co., Ltd. 38,000 108,530 0.0% Kintetsu World Express, Inc. 24,900 861,698 0.0% Kinugawa Rubber Industrial Co., Ltd. 154,000 652,759 0.0% Kirin Holdings Co., Ltd. 634,680 8,228,501 0.1% * Kirindo Holdings Co., Ltd. 2,700 16,558 0.0% Kita-Nippon Bank, Ltd. (The) 11,300 268,602 0.0% # Kitagawa Iron Works Co., Ltd. 204,000 364,197 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) Kitamura Co., Ltd. 900 $ 5,519 0.0% Kitano Construction Corp. 89,000 275,397 0.0% # Kito Corp. 43,000 493,374 0.0% Kitz Corp. 211,900 971,066 0.0% Kiyo Bank, Ltd. (The) 105,900 1,522,622 0.0% #* KLab, Inc. 10,200 150,716 0.0% * KNT-CT Holdings Co., Ltd. 253,000 383,976 0.0% Koa Corp. 91,500 811,598 0.0% Koatsu Gas Kogyo Co., Ltd. 38,000 202,159 0.0% Kobayashi Pharmaceutical Co., Ltd. 20,600 1,271,568 0.0% Kobe Steel, Ltd. 6,861,000 10,901,081 0.1% # Kobelco Eco-Solutions Co., Ltd. 10,000 61,189 0.0% # Kogi Corp. 13,000 28,139 0.0% # Kohnan Shoji Co., Ltd. 84,600 970,753 0.0% Kohsoku Corp. 9,300 77,131 0.0% Koike Sanso Kogyo Co., Ltd. 40,000 101,197 0.0% # Koito Manufacturing Co., Ltd. 156,000 4,700,635 0.1% Kojima Co., Ltd. 85,600 232,887 0.0% Kokusai Co., Ltd. 2,700 43,554 0.0% Kokuyo Co., Ltd. 191,364 1,524,162 0.0% # KOMAIHALTEC, Inc. 106,000 257,277 0.0% Komatsu Seiren Co., Ltd. 44,000 220,489 0.0% Komatsu, Ltd. 356,100 8,407,289 0.1% Komeri Co., Ltd. 82,700 1,859,057 0.0% Konaka Co., Ltd. 61,380 349,581 0.0% # Konami Corp. 118,762 2,384,532 0.0% # Konami Corp. ADR 19,770 397,970 0.0% Kondotec, Inc. 26,400 169,908 0.0% Konica Minolta, Inc. 644,900 7,205,944 0.1% Konishi Co., Ltd. 46,600 804,296 0.0% Kosaido Co., Ltd. 600 2,366 0.0% # Kose Corp. 51,300 2,096,492 0.0% # Kosei Securities Co., Ltd. (The) 115,000 241,693 0.0% # Koshidaka Holdings Co., Ltd. 10,200 174,174 0.0% # Kotobuki Spirits Co., Ltd. 8,000 159,145 0.0% Krosaki Harima Corp. 115,000 248,001 0.0% KRS Corp. 11,500 132,963 0.0% # KU Holdings Co., Ltd. 15,600 83,554 0.0% Kubota Corp. 63,000 1,002,834 0.0% Kubota Corp. Sponsored ADR 44,682 3,591,539 0.1% * Kumagai Gumi Co., Ltd. 358,000 1,295,258 0.0% # Kumiai Chemical Industry Co., Ltd. 79,000 485,866 0.0% Kura Corp. 31,300 848,599 0.0% Kurabo Industries, Ltd. 441,000 733,268 0.0% Kuraray Co., Ltd. 295,000 3,426,443 0.1% Kuraudia Co., Ltd. 1,200 13,602 0.0% # Kureha Corp. 417,000 2,068,168 0.0% Kurimoto, Ltd. 307,000 628,653 0.0% Kurita Water Industries, Ltd. 163,900 3,536,846 0.1% # Kuroda Electric Co., Ltd. 83,700 1,176,882 0.0% Kusuri No Aoki Co., Ltd. 12,000 589,000 0.0% KYB Co., Ltd. 564,000 2,428,584 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) Kyocera Corp. 49,330 $ 2,273,690 0.0% Kyocera Corp. Sponsored ADR 57,800 2,681,342 0.0% Kyodo Printing Co., Ltd. 171,000 606,767 0.0% # Kyoei Sangyo Co., Ltd. 21,000 40,596 0.0% # Kyoei Steel, Ltd. 44,400 739,005 0.0% Kyoei Tanker Co., Ltd. 18,000 33,553 0.0% Kyokuto Boeki Kaisha, Ltd. 16,000 36,008 0.0% Kyokuto Kaihatsu Kogyo Co., Ltd. 58,100 826,095 0.0% # Kyokuto Securities Co., Ltd. 63,700 1,076,616 0.0% # Kyokuyo Co., Ltd. 224,000 524,029 0.0% KYORIN Holdings, Inc. 99,200 2,089,919 0.0% # Kyoritsu Maintenance Co., Ltd. 31,540 1,269,262 0.0% Kyoritsu Printing Co., Ltd. 27,400 72,164 0.0% Kyosan Electric Manufacturing Co., Ltd. 113,000 362,034 0.0% Kyoto Kimono Yuzen Co., Ltd. 12,900 116,239 0.0% Kyowa Electronics Instruments Co., Ltd. 6,000 24,998 0.0% Kyowa Exeo Corp. 177,200 2,169,854 0.0% Kyowa Hakko Kirin Co., Ltd. 235,000 2,740,885 0.0% Kyudenko Corp. 105,000 1,180,702 0.0% * Kyushu Electric Power Co., Inc. 169,100 1,834,676 0.0% LAC Co., Ltd. 8,800 68,996 0.0% # Land Business Co., Ltd. 17,200 64,059 0.0% Lasertec Corp. 27,500 344,072 0.0% Lawson, Inc. 27,900 1,892,661 0.0% LEC, Inc. 7,400 76,449 0.0% * Leopalace21 Corp. 565,300 3,540,730 0.1% # Life Corp. 21,400 343,249 0.0% # Link And Motivation, Inc. 51,100 74,161 0.0% Lintec Corp. 100,000 2,087,850 0.0% # Lion Corp. 337,000 1,904,007 0.0% #* Livesense, Inc. 25,500 190,893 0.0% LIXIL Group Corp. 213,419 4,680,357 0.1% * Lonseal Corp. 23,000 31,716 0.0% Look, Inc. 68,000 144,512 0.0% M3, Inc. 57,800 964,593 0.0% # Macnica, Inc. 29,700 860,837 0.0% # Maeda Corp. 223,000 1,971,597 0.0% # Maeda Kosen Co., Ltd. 24,200 294,406 0.0% Maeda Road Construction Co., Ltd. 138,000 2,127,192 0.0% Maezawa Kasei Industries Co., Ltd. 10,000 102,560 0.0% Maezawa Kyuso Industries Co., Ltd. 15,400 187,742 0.0% # Makino Milling Machine Co., Ltd. 311,000 2,120,060 0.0% Makita Corp. 32,700 1,831,170 0.0% Makita Corp. Sponsored ADR 12,696 705,898 0.0% # Mamiya-Op Co., Ltd. 148,000 268,217 0.0% Mandom Corp. 32,600 1,093,626 0.0% Mani, Inc. 5,500 351,520 0.0% Marche Corp. 2,000 15,453 0.0% Mars Engineering Corp. 29,000 526,829 0.0% Marubeni Corp. 696,359 4,477,203 0.1% Marubun Corp. 27,100 173,570 0.0% Marudai Food Co., Ltd. 210,000 777,772 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) #* Maruei Department Store Co., Ltd. 27,000 $ 34,839 0.0% # Maruetsu, Inc. (The) 71,000 346,356 0.0% Marufuji Sheet Piling Co., Ltd. 16,000 57,756 0.0% Maruha Nichiro Corp. 64,282 930,966 0.0% # Marui Group Co., Ltd. 455,600 3,850,377 0.1% Maruka Machinery Co., Ltd. 7,200 86,312 0.0% Marusan Securities Co., Ltd. 137,400 1,008,242 0.0% Maruwa Co., Ltd. 18,700 554,002 0.0% Maruyama Manufacturing Co., Inc. 91,000 204,114 0.0% * Maruzen CHI Holdings Co., Ltd. 6,400 21,932 0.0% # Maruzen Showa Unyu Co., Ltd. 116,000 369,919 0.0% # Marvelous AQL, Inc. 59,200 690,363 0.0% Matsuda Sangyo Co., Ltd. 28,362 313,954 0.0% Matsui Construction Co., Ltd. 27,000 127,387 0.0% # Matsui Securities Co., Ltd. 85,100 816,532 0.0% Matsumotokiyoshi Holdings Co., Ltd. 70,100 2,038,652 0.0% Matsuya Foods Co., Ltd. 16,500 316,793 0.0% Max Co., Ltd. 64,000 719,963 0.0% Maxvalu Tokai Co., Ltd. 10,100 144,475 0.0% Mazda Motor Corp. 378,800 8,949,828 0.1% # McDonald's Holdings Co. Japan, Ltd. 30,300 739,546 0.0% MEC Co., Ltd. 30,100 307,249 0.0% Medical System Network Co., Ltd. 11,900 36,336 0.0% Medipal Holdings Corp. 221,900 2,459,578 0.0% Megachips Corp. 44,900 583,875 0.0% Megmilk Snow Brand Co., Ltd. 118,700 1,574,921 0.0% Meidensha Corp. 536,000 1,986,179 0.0% Meiji Holdings Co., Ltd. 64,310 5,395,778 0.1% Meiji Shipping Co., Ltd. 9,800 33,062 0.0% # Meiko Electronics Co., Ltd. 54,300 184,229 0.0% # Meiko Network Japan Co., Ltd. 34,700 390,188 0.0% Meisei Industrial Co., Ltd. 95,000 610,174 0.0% Meitec Corp. 27,200 852,963 0.0% Meito Sangyo Co., Ltd. 12,900 130,975 0.0% Meito Transportation Co., Ltd. 1,300 7,985 0.0% Meiwa Corp. 45,400 168,929 0.0% Meiwa Estate Co., Ltd. 26,500 125,400 0.0% # Melco Holdings, Inc. 38,600 553,140 0.0% Mesco, Inc. 6,000 41,089 0.0% Message Co., Ltd. 23,200 729,133 0.0% # Michinoku Bank, Ltd. (The) 179,000 341,911 0.0% # Micronics Japan Co., Ltd. 24,900 1,267,451 0.0% Mie Bank, Ltd. (The) 177,000 412,810 0.0% Mikuni Corp. 9,000 34,266 0.0% Milbon Co., Ltd. 15,836 508,745 0.0% Mimasu Semiconductor Industry Co., Ltd. 55,500 499,311 0.0% Minato Bank, Ltd. (The) 353,000 696,010 0.0% # Minebea Co., Ltd. 486,000 6,659,382 0.1% # Ministop Co., Ltd. 43,100 613,636 0.0% Miraca Holdings, Inc. 79,800 3,349,959 0.0% Miraial Co., Ltd. 2,100 32,334 0.0% Mirait Holdings Corp. 162,730 1,821,574 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) Miroku Jyoho Service Co., Ltd. 30,000 $ 166,029 0.0% Misawa Homes Co., Ltd. 79,300 726,927 0.0% MISUMI Group, Inc. 69,000 2,177,217 0.0% Mitani Corp. 14,900 377,958 0.0% Mitani Sekisan Co., Ltd. 700 12,177 0.0% Mito Securities Co., Ltd. 169,000 635,407 0.0% Mitsuba Corp. 93,300 1,485,005 0.0% Mitsubishi Chemical Holdings Corp. 3,054,800 15,047,596 0.1% Mitsubishi Corp. 556,200 10,906,164 0.1% Mitsubishi Electric Corp. 496,000 6,395,319 0.1% Mitsubishi Estate Co., Ltd. 143,073 3,644,749 0.1% Mitsubishi Gas Chemical Co., Inc. 520,000 3,111,254 0.0% Mitsubishi Heavy Industries, Ltd. 1,863,000 11,621,459 0.1% Mitsubishi Logistics Corp. 197,000 3,000,601 0.0% Mitsubishi Materials Corp. 2,142,200 6,704,893 0.1% Mitsubishi Motors Corp. 417,900 4,299,854 0.1% Mitsubishi Nichiyu Forklift Co., Ltd. 71,800 528,077 0.0% * Mitsubishi Paper Mills, Ltd. 806,000 623,383 0.0% # Mitsubishi Pencil Co., Ltd. 34,600 1,115,556 0.0% Mitsubishi Research Institute, Inc. 600 13,633 0.0% # Mitsubishi Shokuhin Co., Ltd. 27,400 617,204 0.0% Mitsubishi Steel Manufacturing Co., Ltd. 409,000 903,995 0.0% Mitsubishi Tanabe Pharma Corp. 175,100 2,662,776 0.0% Mitsubishi UFJ Financial Group, Inc. 4,157,100 24,232,622 0.2% Mitsubishi UFJ Financial Group, Inc. ADR 1,847,677 10,864,341 0.1% Mitsuboshi Belting Co., Ltd. 98,000 701,954 0.0% Mitsui & Co., Ltd. 605,000 9,134,932 0.1% # Mitsui & Co., Ltd. Sponsored ADR 15,592 4,760,238 0.1% * Mitsui Chemicals, Inc. 1,674,065 4,849,257 0.1% Mitsui Engineering & Shipbuilding Co., Ltd. 2,123,000 4,615,332 0.1% Mitsui Fudosan Co., Ltd. 116,000 3,731,305 0.1% Mitsui High-Tec, Inc. 55,100 330,235 0.0% Mitsui Home Co., Ltd. 50,000 219,054 0.0% Mitsui Matsushima Co., Ltd. 434,000 526,603 0.0% Mitsui Mining & Smelting Co., Ltd. 1,970,000 5,225,575 0.1% Mitsui OSK Lines, Ltd. 1,297,000 4,097,683 0.1% Mitsui Sugar Co., Ltd. 195,000 676,398 0.0% Mitsui-Soko Co., Ltd. 329,000 1,250,787 0.0% Mitsumura Printing Co., Ltd. 15,000 34,826 0.0% Mitsuuroko Group Holdings Co., Ltd. 27,600 134,825 0.0% Miura Co., Ltd. 145,500 1,702,793 0.0% # Miyaji Engineering Group, Inc. 145,000 282,835 0.0% Miyazaki Bank, Ltd. (The) 360,000 1,085,222 0.0% Miyoshi Oil & Fat Co., Ltd. 119,000 147,850 0.0% Mizuho Financial Group, Inc. 13,495,060 24,592,258 0.2% Mizuno Corp. 239,605 1,200,467 0.0% Mochida Pharmaceutical Co., Ltd. 22,299 1,394,428 0.0% # Monex Group, Inc. 474,900 1,212,092 0.0% # Money Partners Group Co., Ltd. 23,100 87,207 0.0% Monogatari Corp. (The) 13,100 423,533 0.0% # MonotaRO Co., Ltd. 49,800 1,315,805 0.0% MORESCO Corp. 17,000 276,501 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) Morinaga & Co., Ltd. 403,000 $ 864,161 0.0% Morinaga Milk Industry Co., Ltd. 611,000 2,042,939 0.0% Morita Holdings Corp. 69,800 680,013 0.0% Morozoff, Ltd. 48,000 155,812 0.0% Mory Industries, Inc. 45,000 172,418 0.0% MOS Food Services, Inc. 9,600 187,319 0.0% # Moshi Moshi Hotline, Inc. 70,500 703,578 0.0% Mr Max Corp. 35,900 99,596 0.0% MS&AD Insurance Group Holdings, Inc. 204,874 4,428,712 0.1% MTI, Ltd. 29,100 285,925 0.0% Murata Manufacturing Co., Ltd. 40,100 4,505,653 0.1% # Musashi Seimitsu Industry Co., Ltd. 62,800 1,232,878 0.0% Musashino Bank, Ltd. (The) 73,100 2,476,861 0.0% # Mutoh Holdings Co., Ltd. 67,000 321,000 0.0% # Nabtesco Corp. 104,200 2,521,691 0.0% NAC Co., Ltd. 28,200 313,091 0.0% Nachi-Fujikoshi Corp. 484,000 3,007,716 0.0% Nafco Co., Ltd. 200 2,707 0.0% Nagaileben Co., Ltd. 17,200 330,601 0.0% Nagano Bank, Ltd. (The) 89,000 151,112 0.0% Nagano Keiki Co., Ltd. 1,700 10,024 0.0% Nagase & Co., Ltd. 196,100 2,540,037 0.0% Nagatanien Co., Ltd. 10,000 97,698 0.0% # Nagoya Railroad Co., Ltd. 696,000 2,976,038 0.0% #* Naigai Co., Ltd. 132,000 71,316 0.0% Nakabayashi Co., Ltd. 59,000 109,670 0.0% Nakamuraya Co., Ltd. 41,000 158,899 0.0% Nakanishi, Inc. 8,000 273,598 0.0% Nakano Corp. 1,000 3,388 0.0% * Nakayama Steel Works, Ltd. 350,000 252,605 0.0% Namura Shipbuilding Co., Ltd. 11,648 114,008 0.0% # Nankai Electric Railway Co., Ltd. 485,000 2,294,905 0.0% Nanto Bank, Ltd. (The) 374,000 1,501,429 0.0% Natori Co., Ltd. 7,200 73,954 0.0% NDS Co., Ltd. 58,000 162,755 0.0% NEC Capital Solutions, Ltd. 18,800 355,703 0.0% NEC Corp. 3,452,800 12,210,396 0.1% NEC Networks & System Integration Corp. 50,500 1,097,246 0.0% # NET One Systems Co., Ltd. 191,400 1,115,645 0.0% Neturen Co., Ltd. 87,300 624,565 0.0% #* New Japan Chemical Co., Ltd. 57,600 119,019 0.0% * New Japan Radio Co., Ltd. 43,000 192,016 0.0% Nexon Co., Ltd. 129,200 1,138,540 0.0% # Next Co., Ltd. 40,700 231,355 0.0% NGK Insulators, Ltd. 160,000 3,446,083 0.1% NGK Spark Plug Co., Ltd. 149,000 3,885,995 0.1% NH Foods, Ltd. 190,000 4,381,341 0.1% NHK Spring Co., Ltd. 369,700 3,383,617 0.1% Nice Holdings, Inc. 106,000 201,813 0.0% Nichi-iko Pharmaceutical Co., Ltd. 109,950 1,817,485 0.0% Nichia Steel Works, Ltd. 41,000 124,174 0.0% # Nichias Corp. 206,000 1,251,773 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) Nichiban Co., Ltd. 38,000 $ 132,799 0.0% # Nichicon Corp. 146,400 987,209 0.0% Nichiden Corp. 6,700 142,734 0.0% Nichiha Corp. 55,700 477,238 0.0% # Nichii Gakkan Co. 106,200 824,078 0.0% Nichimo Co., Ltd. 48,000 80,703 0.0% Nichirei Corp. 697,000 2,966,530 0.0% Nichireki Co., Ltd. 78,000 618,557 0.0% # Nidec Corp. 36,878 2,436,613 0.0% # Nidec Corp. ADR 19,800 330,066 0.0% Nifco, Inc. 122,500 3,881,609 0.1% NIFTY Corp. 16,300 196,126 0.0% # Nihon Chouzai Co., Ltd. 4,580 121,537 0.0% # Nihon Dempa Kogyo Co., Ltd. 49,500 391,218 0.0% Nihon Eslead Corp. 1,200 10,983 0.0% Nihon Kagaku Sangyo Co., Ltd. 11,000 73,831 0.0% Nihon Kohden Corp. 51,100 2,612,580 0.0% Nihon M&A Center, Inc. 49,700 1,428,341 0.0% Nihon Nohyaku Co., Ltd. 121,700 1,238,654 0.0% Nihon Parkerizing Co., Ltd. 72,300 1,725,781 0.0% # Nihon Plast Co., Ltd. 2,900 20,360 0.0% Nihon Shokuhin Kako Co., Ltd. 7,000 23,203 0.0% Nihon Tokushu Toryo Co., Ltd. 4,500 28,259 0.0% # Nihon Trim Co., Ltd. 16,300 365,744 0.0% # Nihon Unisys, Ltd. 145,100 1,286,315 0.0% Nihon Yamamura Glass Co., Ltd. 145,000 219,302 0.0% # Nikkiso Co., Ltd. 131,100 1,355,966 0.0% Nikko Co., Ltd. 33,000 126,027 0.0% # Nikon Corp. 311,500 4,268,068 0.1% Nippo Corp. 131,000 2,394,509 0.0% Nippon Air Conditioning Services Co., Ltd. 2,600 17,532 0.0% Nippon Beet Sugar Manufacturing Co., Ltd. 172,000 289,321 0.0% # Nippon Carbide Industries Co., Inc. 170,000 349,343 0.0% Nippon Carbon Co., Ltd. 294,000 493,658 0.0% * Nippon Chemi-Con Corp. 482,000 1,437,967 0.0% #* Nippon Chemical Industrial Co., Ltd. 231,000 340,395 0.0% Nippon Chemiphar Co., Ltd. 45,000 234,799 0.0% Nippon Chutetsukan K.K. 46,000 101,426 0.0% Nippon Coke & Engineering Co., Ltd. 471,800 470,733 0.0% # Nippon Concrete Industries Co., Ltd. 103,000 615,982 0.0% Nippon Denko Co., Ltd. 329,650 827,995 0.0% # Nippon Densetsu Kogyo Co., Ltd. 78,700 1,111,590 0.0% Nippon Electric Glass Co., Ltd. 701,000 3,259,681 0.0% Nippon Express Co., Ltd. 855,000 3,761,111 0.1% Nippon Felt Co., Ltd. 15,100 64,320 0.0% Nippon Filcon Co., Ltd. 16,300 74,717 0.0% Nippon Fine Chemical Co., Ltd. 23,700 182,576 0.0% # Nippon Flour Mills Co., Ltd. 376,000 1,887,263 0.0% # Nippon Gas Co., Ltd. 50,500 1,249,591 0.0% Nippon Hume Corp. 44,200 353,084 0.0% Nippon Jogesuido Sekkei Co., Ltd. 8,200 103,349 0.0% Nippon Kanzai Co., Ltd. 8,000 208,701 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) Nippon Kasei Chemical Co., Ltd. 26,000 $ 33,382 0.0% Nippon Kayaku Co., Ltd. 290,000 3,813,224 0.1% #* Nippon Kinzoku Co., Ltd. 131,000 181,843 0.0% Nippon Koei Co., Ltd. 179,000 756,792 0.0% Nippon Konpo Unyu Soko Co., Ltd. 137,600 2,276,689 0.0% #* Nippon Koshuha Steel Co., Ltd. 187,000 191,428 0.0% # Nippon Light Metal Holdings Co., Ltd. 1,478,800 2,184,037 0.0% # Nippon Paint Holdings Co., Ltd. 101,000 2,293,441 0.0% # Nippon Paper Industries Co., Ltd. 222,402 3,273,107 0.0% # Nippon Parking Development Co., Ltd. 227,900 249,196 0.0% Nippon Pillar Packing Co., Ltd. 42,400 336,734 0.0% Nippon Piston Ring Co., Ltd. 219,000 468,070 0.0% Nippon Rietec Co., Ltd. 3,000 21,299 0.0% Nippon Road Co., Ltd. (The) 186,000 1,034,114 0.0% Nippon Seiki Co., Ltd. 63,000 1,342,095 0.0% Nippon Seisen Co., Ltd. 47,000 302,849 0.0% # Nippon Sharyo, Ltd. 99,000 305,998 0.0% * Nippon Sheet Glass Co., Ltd. 2,067,000 1,981,599 0.0% Nippon Shinyaku Co., Ltd. 83,000 2,388,947 0.0% Nippon Shokubai Co., Ltd. 234,000 2,804,848 0.0% Nippon Signal Co., Ltd. (The) 110,800 1,080,060 0.0% Nippon Soda Co., Ltd. 218,000 1,241,397 0.0% # Nippon Steel & Sumikin Bussan Corp. 492,000 1,790,350 0.0% Nippon Steel & Sumikin Texeng Co., Ltd. 71,000 370,389 0.0% Nippon Steel & Sumitomo Metal Corp. 6,636,540 17,512,792 0.2% * Nippon Suisan Kaisha, Ltd. 816,900 2,414,836 0.0% Nippon Synthetic Chemical Industry Co., Ltd. (The) 159,000 970,797 0.0% Nippon Telegraph & Telephone Corp. 35,100 2,183,881 0.0% # Nippon Telegraph & Telephone Corp. ADR 71,400 2,247,672 0.0% Nippon Thompson Co., Ltd. 206,000 863,386 0.0% Nippon Tungsten Co., Ltd. 31,000 53,413 0.0% Nippon Valqua Industries, Ltd. 141,000 384,712 0.0% #* Nippon Yakin Kogyo Co., Ltd. 285,000 736,040 0.0% # Nippon Yusen K.K. 1,933,904 5,013,760 0.1% # Nipro Corp. 361,800 2,980,870 0.0% Nishi-Nippon City Bank, Ltd. (The) 1,165,000 3,193,520 0.0% Nishi-Nippon Railroad Co., Ltd. 432,000 1,721,311 0.0% Nishimatsu Construction Co., Ltd. 152,000 738,017 0.0% # Nishimatsuya Chain Co., Ltd. 93,500 845,222 0.0% Nishio Rent All Co., Ltd. 38,000 1,374,420 0.0% Nissan Chemical Industries, Ltd. 198,700 3,684,064 0.1% Nissan Motor Co., Ltd. 2,320,100 21,163,253 0.2% Nissan Shatai Co., Ltd. 130,300 1,793,012 0.0% Nissan Tokyo Sales Holdings Co., Ltd. 36,000 90,877 0.0% Nissei ASB Machine Co., Ltd. 22,600 458,881 0.0% # Nissei Build Kogyo Co., Ltd. 162,000 420,795 0.0% Nissei Plastic Industrial Co., Ltd. 20,700 165,273 0.0% # Nissha Printing Co., Ltd. 63,600 1,025,442 0.0% Nisshin Fudosan Co. 56,200 248,210 0.0% # Nisshin Oillio Group, Ltd. (The) 296,000 1,060,807 0.0% # Nisshin Seifun Group, Inc. 437,545 4,424,466 0.1% # Nisshin Steel Co., Ltd. 227,774 2,126,729 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) Nisshinbo Holdings, Inc. 94,000 $ 776,295 0.0% Nissin Corp. 100,000 250,712 0.0% # Nissin Electric Co., Ltd. 106,000 573,609 0.0% Nissin Foods Holdings Co., Ltd. 15,575 820,879 0.0% Nissin Kogyo Co., Ltd. 106,500 1,645,996 0.0% Nissin Sugar Co., Ltd. 4,900 102,327 0.0% Nissui Pharmaceutical Co., Ltd. 19,300 218,158 0.0% Nitori Holdings Co., Ltd. 33,400 2,116,744 0.0% Nitta Corp. 38,900 874,648 0.0% Nitta Gelatin, Inc. 6,000 45,561 0.0% Nittan Valve Co., Ltd. 27,500 78,277 0.0% Nittetsu Mining Co., Ltd. 177,000 671,008 0.0% Nitto Boseki Co., Ltd. 286,000 1,019,134 0.0% Nitto Denko Corp. 134,300 7,263,485 0.1% Nitto FC Co., Ltd. 3,400 19,735 0.0% Nitto Kogyo Corp. 60,900 1,064,707 0.0% Nitto Kohki Co., Ltd. 21,200 398,003 0.0% Nitto Seiko Co., Ltd. 39,000 130,749 0.0% Nittoc Construction Co., Ltd. 77,149 388,294 0.0% # Nittoku Engineering Co., Ltd. 42,700 415,588 0.0% NOF Corp. 310,000 2,054,436 0.0% Nohmi Bosai, Ltd. 49,000 699,785 0.0% NOK Corp. 150,500 3,812,835 0.1% # Nomura Co., Ltd. 67,800 649,827 0.0% Nomura Holdings, Inc. 1,860,800 11,623,276 0.1% Nomura Holdings, Inc. ADR 402,117 2,553,443 0.0% Nomura Real Estate Holdings, Inc. 244,300 4,317,730 0.1% Nomura Research Institute, Ltd. 44,700 1,474,376 0.0% Noritake Co., Ltd. 252,000 579,418 0.0% Noritz Corp. 63,800 1,179,508 0.0% North Pacific Bank, Ltd. 735,900 3,033,744 0.0% NS Solutions Corp. 37,600 1,157,485 0.0% # NS United Kaiun Kaisha, Ltd. 321,000 801,142 0.0% # NSD Co., Ltd. 64,100 945,335 0.0% NSK, Ltd. 358,000 4,689,115 0.1% # NTN Corp. 1,501,000 6,489,980 0.1% NTT Data Corp. 76,500 2,990,489 0.0% NTT DOCOMO, Inc. 1,141,300 19,249,032 0.2% # NTT DOCOMO, Inc. Sponsored ADR 44,600 752,402 0.0% NTT Urban Development Corp. 107,500 1,216,689 0.0% # Nuflare Technology, Inc. 9,300 424,961 0.0% Obara Group, Inc. 19,400 706,694 0.0% Obayashi Corp. 564,000 3,870,536 0.1% Obayashi Road Corp. 75,000 536,016 0.0% OBIC Business Consultants, Ltd. 4,600 139,137 0.0% Obic Co., Ltd. 66,400 2,370,415 0.0% Odakyu Electric Railway Co., Ltd. 245,000 2,299,395 0.0% Odelic Co., Ltd. 7,400 182,759 0.0% Oenon Holdings, Inc. 112,000 233,873 0.0% Ogaki Kyoritsu Bank, Ltd. (The) 688,000 1,914,127 0.0% * Ohara, Inc. 15,100 78,213 0.0% Ohashi Technica, Inc. 6,300 72,192 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) # Ohsho Food Service Corp. 24,700 $ 892,198 0.0% OIE Sangyo Co., Ltd. 1,200 9,012 0.0% Oiles Corp. 51,101 1,003,012 0.0% Oita Bank, Ltd. (The) 351,000 1,315,250 0.0% Oji Holdings Corp. 1,558,000 5,633,014 0.1% Okabe Co., Ltd. 64,100 602,587 0.0% Okamoto Industries, Inc. 115,000 456,848 0.0% * Okamoto Machine Tool Works, Ltd. 47,000 60,188 0.0% Okamura Corp. 126,500 923,062 0.0% Okaya Electric Industries Co., Ltd. 6,700 23,738 0.0% Oki Electric Industry Co., Ltd. 1,310,000 3,043,731 0.0% Okinawa Cellular Telephone Co. 2,200 59,507 0.0% Okinawa Electric Power Co., Inc. (The) 37,980 1,158,268 0.0% # OKK Corp. 250,000 352,095 0.0% OKUMA Corp. 270,000 1,938,624 0.0% Okumura Corp. 385,000 2,185,702 0.0% Okura Industrial Co., Ltd. 71,000 242,308 0.0% Okuwa Co., Ltd. 30,000 249,077 0.0% Olympic Group Corp. 18,200 166,968 0.0% * Olympus Corp. 102,400 3,676,679 0.1% Omron Corp. 82,500 3,905,110 0.1% ONO Sokki Co., Ltd. 13,500 115,735 0.0% # Onoken Co., Ltd. 37,100 381,657 0.0% # Onward Holdings Co., Ltd. 380,000 2,335,020 0.0% # OPT, Inc. 32,100 219,603 0.0% Optex Co., Ltd. 21,900 384,866 0.0% Oracle Corp. Japan 19,800 766,523 0.0% Organo Corp. 96,000 411,981 0.0% Oriental Land Co., Ltd. 11,700 2,501,918 0.0% # Origin Electric Co., Ltd. 74,000 280,251 0.0% Osaka Gas Co., Ltd. 750,000 2,991,623 0.0% Osaka Organic Chemical Industry, Ltd. 16,800 72,691 0.0% Osaka Steel Co., Ltd. 27,600 495,318 0.0% # OSAKA Titanium Technologies Co., Ltd. 35,000 680,648 0.0% # Osaki Electric Co., Ltd. 94,000 570,363 0.0% OSG Corp. 130,900 2,134,480 0.0% Otsuka Corp. 24,900 925,862 0.0% Otsuka Holdings Co., Ltd. 174,000 6,103,579 0.1% # Outsourcing, Inc. 12,200 175,372 0.0% # Pacific Industrial Co., Ltd. 115,300 873,686 0.0% #* Pacific Metals Co., Ltd. 149,000 471,379 0.0% Pack Corp. (The) 27,000 557,728 0.0% Pal Co., Ltd. 34,300 1,031,547 0.0% Paltac Corp. 87,758 1,069,361 0.0% PanaHome Corp. 197,000 1,318,348 0.0% Panasonic Corp. 817,400 9,834,341 0.1% Panasonic Corp. Sponsored ADR 204,353 2,480,845 0.0% Panasonic Industrial Devices SUNX Co., Ltd. 39,400 212,008 0.0% # Paramount Bed Holdings Co., Ltd. 40,100 1,140,534 0.0% Parco Co., Ltd. 68,600 558,285 0.0% Paris Miki Holdings, Inc. 44,400 197,361 0.0% # Park24 Co., Ltd. 110,100 1,666,003 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) # Pasco Corp. 33,000 $ 103,179 0.0% # Pasona Group, Inc. 66,500 327,429 0.0% # Penta-Ocean Construction Co., Ltd. 547,700 1,790,047 0.0% PIA Corp. 1,500 25,377 0.0% Pigeon Corp. 32,500 2,025,964 0.0% Pilot Corp. 25,400 1,426,116 0.0% Piolax, Inc. 22,500 995,477 0.0% #* Pioneer Corp. 995,100 2,610,758 0.0% Plenus Co., Ltd. 47,000 845,398 0.0% # Pola Orbis Holdings, Inc. 32,800 1,347,018 0.0% # Press Kogyo Co., Ltd. 287,000 1,146,484 0.0% # Pressance Corp. 21,900 615,469 0.0% # Prestige International, Inc. 26,800 231,708 0.0% Prima Meat Packers, Ltd. 573,000 1,350,436 0.0% Pronexus, Inc. 30,900 203,596 0.0% Proto Corp. 16,400 225,778 0.0% # PS Mitsubishi Construction Co., Ltd. 41,600 181,175 0.0% Psc, Inc. 5,800 302,772 0.0% # Qol Co., Ltd. 21,200 128,623 0.0% # Raito Kogyo Co., Ltd. 105,800 1,034,659 0.0% Rakuten, Inc. 185,500 2,091,785 0.0% #* Rasa Industries, Ltd. 248,000 302,486 0.0% * Raysum Co., Ltd. 100 960 0.0% Relo Holdings, Inc. 18,500 1,308,926 0.0% Renaissance, Inc. 8,100 70,622 0.0% #* Renesas Electronics Corp. 48,500 378,461 0.0% # Rengo Co., Ltd. 670,710 2,952,501 0.0% * Renown, Inc. 86,300 86,761 0.0% Resona Holdings, Inc. 1,821,200 10,416,873 0.1% Resorttrust, Inc. 124,900 3,011,183 0.0% Rheon Automatic Machinery Co., Ltd. 21,000 97,079 0.0% Rhythm Watch Co., Ltd. 102,000 142,410 0.0% Riberesute Corp. 8,100 49,086 0.0% Ricoh Co., Ltd. 799,719 8,258,978 0.1% Ricoh Leasing Co., Ltd. 26,800 747,723 0.0% Right On Co., Ltd. 22,400 146,108 0.0% Riken Corp. 221,000 866,621 0.0% Riken Keiki Co., Ltd. 9,000 90,589 0.0% Riken Technos Corp. 77,300 341,342 0.0% Riken Vitamin Co., Ltd. 12,600 290,877 0.0% Ringer Hut Co., Ltd. 15,400 237,900 0.0% Rinnai Corp. 13,300 1,181,398 0.0% # Rion Co., Ltd. 16,700 218,856 0.0% Riso Kagaku Corp. 37,879 1,145,436 0.0% #* Riso Kyoiku Co., Ltd. 25,550 52,778 0.0% # Rock Field Co., Ltd. 25,900 441,129 0.0% Rohm Co., Ltd. 2,600 158,264 0.0% Rohto Pharmaceutical Co., Ltd. 158,700 2,302,056 0.0% # Rokko Butter Co., Ltd. 7,000 76,321 0.0% Roland DG Corp. 13,900 586,721 0.0% Round One Corp. 228,400 1,377,927 0.0% Royal Holdings Co., Ltd. 53,100 847,848 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) Ryobi, Ltd. 390,000 $ 1,064,463 0.0% Ryoden Trading Co., Ltd. 58,000 417,185 0.0% Ryohin Keikaku Co., Ltd. 16,075 2,170,623 0.0% Ryosan Co., Ltd. 74,700 1,578,947 0.0% S Foods, Inc. 26,500 553,998 0.0% Sac's Bar Holdings, Inc. 39,900 575,069 0.0% Sagami Chain Co., Ltd. 15,000 142,441 0.0% Saibu Gas Co., Ltd. 343,000 835,479 0.0% # Saizeriya Co., Ltd. 68,800 1,018,116 0.0% Sakai Chemical Industry Co., Ltd. 240,000 723,030 0.0% Sakai Heavy Industries, Ltd. 96,000 247,808 0.0% # Sakai Moving Service Co., Ltd. 8,400 268,055 0.0% Sakai Ovex Co., Ltd. 177,000 255,876 0.0% Sakata INX Corp. 77,000 787,937 0.0% Sakata Seed Corp. 90,200 1,337,724 0.0% Sala Corp. 56,500 310,880 0.0% SAMTY Co., Ltd. 2,800 18,705 0.0% San Holdings, Inc. 1,800 25,271 0.0% San-A Co., Ltd. 36,900 1,243,856 0.0% San-Ai Oil Co., Ltd. 151,000 1,045,235 0.0% San-In Godo Bank, Ltd. (The) 376,000 2,896,980 0.0% # Sanden Corp. 259,000 1,493,713 0.0% Sanei Architecture Planning Co., Ltd. 5,900 47,884 0.0% Sangetsu Co., Ltd. 56,200 1,423,187 0.0% #* Sanix, Inc. 43,900 201,714 0.0% Sanken Electric Co., Ltd. 325,000 2,552,553 0.0% # Sanki Engineering Co., Ltd. 105,000 733,596 0.0% # Sanko Marketing Foods Co., Ltd. 10,800 88,170 0.0% Sanko Metal Industrial Co., Ltd. 38,000 87,008 0.0% Sankyo Co., Ltd. 45,600 1,659,430 0.0% Sankyo Seiko Co., Ltd. 54,900 204,072 0.0% Sankyo Tateyama, Inc. 71,400 1,279,928 0.0% Sankyu, Inc. 641,000 2,963,510 0.0% Sanoh Industrial Co., Ltd. 55,800 363,039 0.0% # Sanrio Co., Ltd. 57,100 1,650,897 0.0% Sanshin Electronics Co., Ltd. 66,200 468,808 0.0% Santen Pharmaceutical Co., Ltd. 19,500 1,163,887 0.0% Sanwa Holdings Corp. 545,000 3,779,037 0.1% # Sanyo Chemical Industries, Ltd. 162,000 1,010,105 0.0% Sanyo Denki Co., Ltd. 96,000 686,529 0.0% # Sanyo Electric Railway Co., Ltd. 36,000 148,699 0.0% Sanyo Housing Nagoya Co., Ltd. 12,600 138,861 0.0% Sanyo Industries, Ltd. 15,000 27,085 0.0% Sanyo Shokai, Ltd. 322,000 782,264 0.0% Sanyo Special Steel Co., Ltd. 348,000 1,194,373 0.0% Sapporo Holdings, Ltd. 1,062,000 4,596,138 0.1% Sata Construction Co., Ltd. 109,000 144,255 0.0% # Sato Holdings Corp. 52,500 1,382,767 0.0% Sato Shoji Corp. 19,700 128,129 0.0% Satori Electric Co., Ltd. 18,800 122,113 0.0% # Sawada Holdings Co., Ltd. 51,100 364,901 0.0% Sawai Pharmaceutical Co., Ltd. 48,000 2,859,706 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) Saxa Holdings, Inc. 86,000 $ 121,904 0.0% SBI Holdings, Inc. 366,280 4,223,772 0.1% SBS Holdings, Inc. 26,000 226,365 0.0% SCREEN Holdings Co., Ltd. 241,000 1,313,568 0.0% Scroll Corp. 41,800 95,800 0.0% SCSK Corp. 50,959 1,369,945 0.0% Secom Co., Ltd. 54,800 3,377,051 0.1% Secom Joshinetsu Co., Ltd. 1,500 38,544 0.0% # Sega Sammy Holdings, Inc. 162,212 2,576,821 0.0% Seibu Electric Industry Co., Ltd. 16,000 69,344 0.0% Seika Corp. 84,000 200,526 0.0% # Seikitokyu Kogyo Co., Ltd. 120,599 674,941 0.0% Seiko Epson Corp. 192,600 8,937,548 0.1% Seiko Holdings Corp. 469,000 2,337,277 0.0% Seino Holdings Co., Ltd. 249,000 1,952,361 0.0% Seiren Co., Ltd. 99,600 869,762 0.0% Sekisui Chemical Co., Ltd. 603,000 7,515,411 0.1% Sekisui House, Ltd. 573,000 7,125,190 0.1% Sekisui Jushi Corp. 61,400 836,764 0.0% Sekisui Plastics Co., Ltd. 81,000 219,614 0.0% # Senko Co., Ltd. 256,000 1,088,867 0.0% # Senshu Electric Co., Ltd. 9,500 143,346 0.0% Senshu Ikeda Holdings, Inc. 386,260 1,998,270 0.0% # Senshukai Co., Ltd. 70,300 564,269 0.0% # Seria Co., Ltd. 23,400 982,707 0.0% Seven & I Holdings Co., Ltd. 221,852 8,664,673 0.1% Seven Bank, Ltd. 317,800 1,327,259 0.0% #* Sharp Corp. 917,000 2,309,428 0.0% # Shibaura Mechatronics Corp. 26,000 83,411 0.0% Shibusawa Warehouse Co., Ltd. (The) 84,000 280,491 0.0% # Shibuya Kogyo Co., Ltd. 21,000 523,867 0.0% # Shidax Corp. 17,900 79,877 0.0% Shiga Bank, Ltd. (The) 421,000 2,357,914 0.0% # Shikibo, Ltd. 256,000 280,147 0.0% Shikoku Bank, Ltd. (The) 342,000 725,842 0.0% Shikoku Chemicals Corp. 74,000 512,918 0.0% * Shikoku Electric Power Co., Inc. 174,800 2,398,741 0.0% # Shima Seiki Manufacturing, Ltd. 70,800 1,140,615 0.0% Shimachu Co., Ltd. 104,400 2,687,910 0.0% Shimadzu Corp. 323,000 2,810,523 0.0% Shimamura Co., Ltd. 30,900 2,717,749 0.0% Shimano, Inc. 25,300 3,354,916 0.1% Shimizu Bank, Ltd. (The) 11,900 341,121 0.0% Shimizu Corp. 380,000 2,804,291 0.0% Shimojima Co., Ltd. 1,500 13,857 0.0% Shin Nippon Air Technologies Co., Ltd. 22,400 182,396 0.0% Shin-Etsu Chemical Co., Ltd. 91,100 5,847,582 0.1% Shin-Etsu Polymer Co., Ltd. 61,400 287,301 0.0% Shin-Keisei Electric Railway Co., Ltd. 26,000 90,854 0.0% Shinagawa Refractories Co., Ltd. 115,000 283,123 0.0% Shindengen Electric Manufacturing Co., Ltd. 240,000 1,563,458 0.0% Shinko Electric Industries Co., Ltd. 219,900 1,276,933 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) Shinko Plantech Co., Ltd. 92,000 $ 703,322 0.0% Shinko Shoji Co., Ltd. 51,800 491,135 0.0% Shinko Wire Co., Ltd. 47,000 73,450 0.0% Shinmaywa Industries, Ltd. 190,000 1,706,405 0.0% Shinnihon Corp. 68,800 241,495 0.0% # Shinsei Bank, Ltd. 1,694,000 3,807,048 0.1% Shinsho Corp. 115,000 285,275 0.0% Shinwa Co., Ltd. 5,000 58,263 0.0% Shionogi & Co., Ltd. 223,900 5,857,615 0.1% Ship Healthcare Holdings, Inc. 59,200 1,385,645 0.0% Shiroki Corp. 85,000 171,851 0.0% # Shiseido Co., Ltd. 156,800 2,601,963 0.0% Shizuki Electric Co., Inc. 24,000 109,726 0.0% Shizuoka Bank, Ltd. (The) 566,000 5,848,347 0.1% Shizuoka Gas Co., Ltd. 119,600 783,629 0.0% Shobunsha Publications, Inc. 15,400 109,008 0.0% # Shochiku Co., Ltd. 3,000 28,148 0.0% Shofu, Inc. 1,300 14,863 0.0% Shoko Co., Ltd. 139,000 206,311 0.0% Showa Aircraft Industry Co., Ltd. 10,553 106,529 0.0% Showa Corp. 142,300 1,539,322 0.0% Showa Denko K.K. 4,071,000 5,387,292 0.1% Showa Sangyo Co., Ltd. 120,000 466,176 0.0% # Showa Shell Sekiyu K.K. 336,300 2,885,557 0.0% # Siix Corp. 40,700 706,796 0.0% # Sinanen Co., Ltd. 96,000 378,500 0.0% Sinfonia Technology Co., Ltd. 208,000 300,055 0.0% Sinko Industries, Ltd. 37,500 338,675 0.0% Sintokogio, Ltd. 123,300 856,385 0.0% SKY Perfect JSAT Holdings, Inc. 386,900 2,375,100 0.0% SMC Corp. 6,400 1,815,253 0.0% SMK Corp. 133,000 534,356 0.0% # SMS Co., Ltd. 19,500 567,753 0.0% Soda Nikka Co., Ltd. 13,000 54,398 0.0% # Sodick Co., Ltd. 146,800 1,186,937 0.0% Soft99 Corp. 10,600 61,730 0.0% Softbank Corp. 209,432 15,246,499 0.1% # Softbank Technology Corp. 8,700 109,839 0.0% * Softbrain Co., Ltd. 48,800 92,555 0.0% Software Service, Inc. 3,100 118,056 0.0% Sogo Medical Co., Ltd. 13,900 663,721 0.0% Sohgo Security Services Co., Ltd. 100,300 2,345,570 0.0% Sojitz Corp. 2,339,900 3,487,911 0.1% Sompo Japan Nipponkoa Holdings, Inc. 293,300 7,385,469 0.1% Sony Corp. 630,400 12,446,186 0.1% # Sony Corp. Sponsored ADR 355,389 7,043,810 0.1% Sony Financial Holdings, Inc. 114,400 1,826,361 0.0% Soshin Electric Co., Ltd. 4,300 15,367 0.0% Sotetsu Holdings, Inc. 369,000 1,386,299 0.0% Sotoh Co., Ltd. 700 5,958 0.0% Space Co., Ltd. 10,300 121,305 0.0% # Sparx Group Co., Ltd. 74,800 150,832 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) SPK Corp. 5,700 $ 99,067 0.0% Square Enix Holdings Co., Ltd. 80,100 1,648,481 0.0% # Srg Takamiya Co., Ltd. 5,500 74,429 0.0% ST Corp. 14,600 132,010 0.0% St Marc Holdings Co., Ltd. 21,500 1,124,052 0.0% Stanley Electric Co., Ltd. 128,800 2,618,582 0.0% Star Micronics Co., Ltd. 62,000 942,814 0.0% Starbucks Coffee Japan, Ltd. 53,300 696,692 0.0% # Start Today Co., Ltd. 52,200 1,129,461 0.0% Starts Corp., Inc. 35,500 530,097 0.0% Starzen Co., Ltd. 95,000 276,175 0.0% Stella Chemifa Corp. 29,700 370,729 0.0% Step Co., Ltd. 5,400 40,384 0.0% # Studio Alice Co., Ltd. 33,600 435,159 0.0% Sugi Holdings Co., Ltd. 27,100 1,183,543 0.0% Sugimoto & Co., Ltd. 10,300 104,477 0.0% # Sumco Corp. 170,160 2,288,502 0.0% Sumida Corp. 53,200 377,262 0.0% Suminoe Textile Co., Ltd. 136,000 372,400 0.0% Sumitomo Bakelite Co., Ltd. 514,000 2,022,808 0.0% Sumitomo Chemical Co., Ltd. 3,242,000 11,121,474 0.1% Sumitomo Corp. 596,100 6,360,217 0.1% # Sumitomo Dainippon Pharma Co., Ltd. 123,200 1,453,259 0.0% Sumitomo Densetsu Co., Ltd. 46,400 573,741 0.0% Sumitomo Electric Industries, Ltd. 576,800 7,884,043 0.1% Sumitomo Forestry Co., Ltd. 266,200 2,797,224 0.0% Sumitomo Heavy Industries, Ltd. 910,480 4,991,643 0.1% Sumitomo Metal Mining Co., Ltd. 392,000 5,438,025 0.1% #* Sumitomo Mitsui Construction Co., Ltd. 1,274,600 1,525,146 0.0% Sumitomo Mitsui Financial Group, Inc. 754,470 30,769,477 0.3% Sumitomo Mitsui Trust Holdings, Inc. 1,636,730 6,682,312 0.1% Sumitomo Osaka Cement Co., Ltd. 1,113,000 3,479,249 0.1% # Sumitomo Precision Products Co., Ltd. 93,000 362,093 0.0% Sumitomo Real Estate Sales Co., Ltd. 23,080 531,484 0.0% Sumitomo Realty & Development Co., Ltd. 70,000 2,624,227 0.0% Sumitomo Riko Co., Ltd. 117,700 1,011,566 0.0% Sumitomo Rubber Industries, Ltd. 301,300 4,164,279 0.1% Sumitomo Seika Chemicals Co., Ltd. 140,000 858,849 0.0% Sumitomo Warehouse Co., Ltd. (The) 184,000 1,009,097 0.0% # Sun Frontier Fudousan Co., Ltd. 37,900 415,969 0.0% Sun-Wa Technos Corp. 12,400 127,570 0.0% Suncall Corp. 5,000 29,119 0.0% Sundrug Co., Ltd. 34,600 1,671,441 0.0% Suruga Bank, Ltd. 141,000 2,947,797 0.0% Suzuken Co., Ltd. 120,600 3,233,386 0.0% Suzuki Motor Corp. 274,500 9,200,826 0.1% #* SWCC Showa Holdings Co., Ltd. 662,000 613,239 0.0% Sysmex Corp. 61,800 2,638,250 0.0% Systena Corp. 32,800 247,594 0.0% T Hasegawa Co., Ltd. 27,100 416,198 0.0% # T RAD Co., Ltd. 181,000 426,119 0.0% T&D Holdings, Inc. 671,810 8,653,908 0.1% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) # T&K Toka Co., Ltd. 18,300 $ 409,000 0.0% T-Gaia Corp. 37,600 375,918 0.0% # Tabuchi Electric Co., Ltd. 39,000 342,321 0.0% # Tachi-S Co., Ltd. 71,200 902,804 0.0% Tachibana Eletech Co., Ltd. 33,000 422,884 0.0% Tadano, Ltd. 159,421 2,383,084 0.0% Taiheiyo Cement Corp. 897,000 3,291,051 0.0% # Taiheiyo Kouhatsu, Inc. 151,000 126,638 0.0% Taiho Kogyo Co., Ltd. 44,300 453,236 0.0% # Taikisha, Ltd. 50,300 1,117,791 0.0% Taiko Bank, Ltd. (The) 27,000 54,838 0.0% # Taiko Pharmaceutical Co., Ltd. 26,700 482,075 0.0% Taisei Corp. 560,399 3,116,349 0.0% Taisei Lamick Co., Ltd. 5,700 139,342 0.0% Taiyo Holdings Co., Ltd. 17,500 570,300 0.0% # Taiyo Nippon Sanso Corp. 431,000 3,880,321 0.1% # Taiyo Yuden Co., Ltd. 289,400 2,974,914 0.0% Takagi Securities Co., Ltd. 93,000 215,411 0.0% Takamatsu Construction Group Co., Ltd. 14,600 280,069 0.0% Takano Co., Ltd. 1,100 6,012 0.0% # Takaoka Toko Co., Ltd. 17,174 248,895 0.0% # Takara Holdings, Inc. 212,000 1,687,733 0.0% Takara Leben Co., Ltd. 183,800 778,847 0.0% Takara Standard Co., Ltd. 197,895 1,616,098 0.0% Takasago International Corp. 140,000 669,993 0.0% Takasago Thermal Engineering Co., Ltd. 137,200 1,770,729 0.0% # Takashima & Co., Ltd. 67,000 140,505 0.0% Takashimaya Co., Ltd. 492,000 4,191,140 0.1% # Takata Corp. 78,000 1,019,301 0.0% # Take And Give Needs Co., Ltd. 26,140 275,372 0.0% Takeda Pharmaceutical Co., Ltd. 133,600 5,791,337 0.1% # Takeei Corp. 51,700 489,823 0.0% Takeuchi Manufacturing Co., Ltd. 20,800 874,314 0.0% Takihyo Co., Ltd. 5,000 18,448 0.0% Takiron Co., Ltd. 102,000 505,851 0.0% # Takisawa Machine Tool Co., Ltd. 83,000 162,737 0.0% Takuma Co., Ltd. 166,000 1,059,842 0.0% # Tama Home Co., Ltd. 27,700 150,910 0.0% # Tamron Co., Ltd. 41,600 823,465 0.0% Tamura Corp. 168,000 633,233 0.0% Tanseisha Co., Ltd. 66,500 610,643 0.0% # Tatsuta Electric Wire and Cable Co., Ltd. 96,900 489,981 0.0% Tayca Corp. 70,000 278,438 0.0% TBK Co., Ltd. 44,600 271,106 0.0% TDK Corp. 92,300 5,239,142 0.1% TDK Corp. Sponsored ADR 48,131 2,743,467 0.0% #* Teac Corp. 26,000 13,444 0.0% TECHNO ASSOCIE Co., Ltd. 3,000 28,670 0.0% # Techno Ryowa, Ltd. 8,870 39,056 0.0% Teijin, Ltd. 2,568,750 6,280,080 0.1% # Teikoku Electric Manufacturing Co., Ltd. 27,400 309,820 0.0% Teikoku Sen-I Co., Ltd. 3,200 78,444 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) Teikoku Tsushin Kogyo Co., Ltd. 70,000 $ 111,549 0.0% Terumo Corp. 101,900 2,547,358 0.0% THK Co., Ltd. 106,000 2,666,204 0.0% Tigers Polymer Corp. 6,200 37,920 0.0% Titan Kogyo K.K. 8,000 17,652 0.0% TKC Corp. 18,400 361,215 0.0% # Toa Corp.(6894434) 46,900 471,898 0.0% # Toa Corp.(6894508) 578,000 1,062,520 0.0% Toa Oil Co., Ltd. 198,000 280,242 0.0% TOA ROAD Corp. 136,000 494,062 0.0% # Toabo Corp. 207,000 140,246 0.0% # Toagosei Co., Ltd. 489,500 2,139,324 0.0% #* Tobishima Corp. 403,300 1,103,561 0.0% # Tobu Railway Co., Ltd. 399,000 2,018,397 0.0% Tobu Store Co., Ltd. 30,000 76,987 0.0% TOC Co., Ltd. 101,800 742,744 0.0% Tocalo Co., Ltd. 33,700 635,711 0.0% Tochigi Bank, Ltd. (The) 231,000 938,982 0.0% Toda Corp. 466,000 2,060,632 0.0% #* Toda Kogyo Corp. 105,000 385,200 0.0% Toei Animation Co., Ltd. 4,100 106,139 0.0% Toei Co., Ltd. 174,000 918,116 0.0% Toenec Corp. 62,000 330,021 0.0% Toho Bank, Ltd. (The) 324,000 1,191,636 0.0% Toho Co., Ltd.(6895200) 44,900 1,029,896 0.0% Toho Co., Ltd.(6895211) 45,000 170,151 0.0% Toho Gas Co., Ltd. 399,000 2,157,963 0.0% Toho Holdings Co., Ltd. 99,700 1,304,310 0.0% #* Toho Titanium Co., Ltd. 35,900 229,349 0.0% Toho Zinc Co., Ltd. 432,000 1,479,538 0.0% Tohoku Bank, Ltd. (The) 161,000 226,027 0.0% Tohoku Electric Power Co., Inc. 177,400 2,217,182 0.0% Tohto Suisan Co., Ltd. 67,000 116,717 0.0% # Tokai Carbon Co., Ltd. 474,000 1,236,455 0.0% Tokai Corp/Gifu 14,900 448,316 0.0% TOKAI Holdings Corp. 194,800 948,927 0.0% Tokai Lease Co., Ltd. 40,000 71,357 0.0% Tokai Rika Co., Ltd. 140,400 2,674,102 0.0% # Token Corp. 18,570 840,819 0.0% Tokio Marine Holdings, Inc. 210,312 6,744,309 0.1% # Tokio Marine Holdings, Inc. ADR 63,004 2,048,260 0.0% # Toko, Inc. 46,000 122,515 0.0% Tokushu Tokai Paper Co., Ltd. 155,380 361,877 0.0% # Tokuyama Corp. 777,000 2,271,253 0.0% Tokyo Dome Corp. 518,000 2,206,775 0.0% * Tokyo Electric Power Co., Inc. 560,212 2,019,964 0.0% Tokyo Electron Device, Ltd. 16,200 210,465 0.0% Tokyo Electron, Ltd. 88,800 5,693,383 0.1% Tokyo Energy & Systems, Inc. 39,000 274,457 0.0% Tokyo Gas Co., Ltd. 474,000 2,732,284 0.0% # Tokyo Individualized Educational Institute, Inc. 11,200 40,949 0.0% Tokyo Keiki, Inc. 151,000 374,777 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) * Tokyo Kikai Seisakusho, Ltd. 127,000 $ 91,847 0.0% # Tokyo Rakutenchi Co., Ltd. 38,000 171,535 0.0% #* Tokyo Rope Manufacturing Co., Ltd. 304,000 472,558 0.0% Tokyo Sangyo Co., Ltd. 24,500 95,382 0.0% Tokyo Seimitsu Co., Ltd. 89,800 1,461,270 0.0% # Tokyo Steel Manufacturing Co., Ltd. 191,900 1,029,428 0.0% # Tokyo Tatemono Co., Ltd. 380,000 3,317,154 0.0% Tokyo Tekko Co., Ltd. 122,000 560,847 0.0% Tokyo Theatres Co., Inc. 175,000 232,151 0.0% #* Tokyo TY Financial Group, Inc. 64,374 2,060,312 0.0% # Tokyu Construction Co., Ltd. 116,680 568,602 0.0% Tokyu Corp. 444,000 2,931,666 0.0% Tokyu Fudosan Holdings Corp. 586,294 4,166,972 0.1% Tokyu Recreation Co., Ltd. 22,819 135,265 0.0% Toli Corp. 66,000 141,864 0.0% Tomato Bank, Ltd. 126,000 205,008 0.0% Tomen Devices Corp. 3,000 47,700 0.0% # Tomen Electronics Corp. 18,200 268,450 0.0% Tomoe Corp. 54,700 212,792 0.0% Tomoe Engineering Co., Ltd. 9,100 143,289 0.0% Tomoegawa Co., Ltd. 17,000 29,091 0.0% Tomoku Co., Ltd. 94,000 244,468 0.0% TOMONY Holdings, Inc. 229,200 1,022,507 0.0% # Tomy Co., Ltd. 203,200 1,051,146 0.0% Tonami Holdings Co., Ltd. 88,000 187,782 0.0% TonenGeneral Sekiyu K.K. 118,000 1,029,903 0.0% Topcon Corp. 72,600 1,704,657 0.0% Toppan Forms Co., Ltd. 118,000 1,112,907 0.0% Toppan Printing Co., Ltd. 466,000 3,170,770 0.0% Topre Corp. 105,300 1,491,086 0.0% Topy Industries, Ltd. 551,000 1,065,296 0.0% Toray Industries, Inc. 871,000 5,847,395 0.1% # Toridoll.corp 22,300 255,169 0.0% Torigoe Co., Ltd. (The) 11,000 76,342 0.0% # Torishima Pump Manufacturing Co., Ltd. 49,800 377,606 0.0% Tose Co., Ltd. 3,800 24,488 0.0% # Tosei Corp. 65,600 442,130 0.0% Toshiba Corp. 1,237,000 5,462,734 0.1% Toshiba Machine Co., Ltd. 174,000 691,466 0.0% Toshiba Plant Systems & Services Corp. 68,000 1,138,203 0.0% Toshiba TEC Corp. 372,000 2,625,138 0.0% # Tosho Co., Ltd. 11,100 235,519 0.0% # Tosho Printing Co., Ltd. 75,000 251,573 0.0% Tosoh Corp. 1,342,000 5,835,793 0.1% # Totetsu Kogyo Co., Ltd. 45,400 1,028,447 0.0% TOTO, Ltd. 227,000 2,561,441 0.0% Tottori Bank, Ltd. (The) 69,000 136,139 0.0% Toukei Computer Co., Ltd. 3,200 46,331 0.0% Towa Bank, Ltd. (The) 680,000 608,396 0.0% Towa Corp. 63,200 364,881 0.0% # Towa Pharmaceutical Co., Ltd. 26,800 1,183,232 0.0% # Toyo Construction Co., Ltd. 195,000 918,473 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) # Toyo Denki Seizo - Toyo Electric Manufacturing Co., Ltd. 78,000 $ 280,792 0.0% # Toyo Engineering Corp. 215,000 1,101,148 0.0% # Toyo Ink SC Holdings Co., Ltd. 616,000 2,841,290 0.0% # Toyo Kanetsu K.K. 271,000 633,859 0.0% Toyo Kohan Co., Ltd. 109,000 629,234 0.0% Toyo Machinery & Metal Co., Ltd. 52,500 209,594 0.0% Toyo Securities Co., Ltd. 194,000 552,657 0.0% Toyo Seikan Group Holdings, Ltd. 272,400 3,303,306 0.0% Toyo Sugar Refining Co., Ltd. 29,000 26,251 0.0% Toyo Suisan Kaisha, Ltd. 86,000 2,970,116 0.0% # Toyo Tanso Co., Ltd. 15,900 294,473 0.0% Toyo Tire & Rubber Co., Ltd. 205,000 3,381,723 0.1% Toyo Wharf & Warehouse Co., Ltd. 164,000 313,615 0.0% # Toyobo Co., Ltd. 2,247,000 3,234,310 0.0% Toyoda Gosei Co., Ltd. 173,000 3,323,641 0.0% # Toyota Boshoku Corp. 177,500 2,015,798 0.0% Toyota Motor Corp. 1,137,986 68,480,785 0.6% # Toyota Motor Corp. Sponsored ADR 396,641 48,132,385 0.4% Toyota Tsusho Corp. 333,525 8,409,864 0.1% TPR Co., Ltd. 58,900 1,396,270 0.0% # Trancom Co., Ltd. 18,500 773,109 0.0% Transcosmos, Inc. 40,000 747,996 0.0% Trend Micro, Inc. 50,100 1,688,149 0.0% # Trend Micro, Inc. Sponsored ADR 3,540 120,148 0.0% Trinity Industrial Corp. 3,000 11,197 0.0% Trusco Nakayama Corp. 41,461 1,111,970 0.0% TS Tech Co., Ltd. 122,100 3,001,049 0.0% TSI Holdings Co., Ltd. 151,990 966,248 0.0% Tsubakimoto Chain Co. 359,000 2,831,888 0.0% Tsubakimoto Kogyo Co., Ltd. 24,000 65,335 0.0% Tsuchiya Holdings Co., Ltd. 1,200 2,685 0.0% #* Tsudakoma Corp. 93,000 125,074 0.0% # Tsugami Corp. 105,000 539,179 0.0% # Tsukada Global Holdings, Inc. 25,500 207,478 0.0% Tsukamoto Corp. Co., Ltd. 37,000 43,989 0.0% Tsukishima Kikai Co., Ltd. 56,200 630,811 0.0% Tsukuba Bank, Ltd. 201,400 690,239 0.0% Tsukui Corp. 50,300 486,302 0.0% # Tsumura & Co. 105,200 2,353,937 0.0% Tsuruha Holdings, Inc. 36,200 2,137,275 0.0% Tsurumi Manufacturing Co., Ltd. 26,500 439,081 0.0% TYK Corp. 34,000 62,021 0.0% Tyo, Inc. 95,600 151,773 0.0% # UACJ Corp. 657,144 2,421,000 0.0% Ube Industries, Ltd. 2,329,200 3,606,334 0.1% Uchida Yoko Co., Ltd. 107,000 342,589 0.0% Uchiyama Holdings Co., Ltd. 11,100 64,466 0.0% UKC Holdings Corp. 30,500 496,265 0.0% #* Ulvac, Inc. 131,400 1,636,261 0.0% Unicharm Corp. 68,300 1,588,210 0.0% Uniden Corp. 107,000 221,063 0.0% # Union Tool Co. 18,400 474,679 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) Unipres Corp. 98,400 $ 1,958,144 0.0% United Arrows, Ltd. 39,900 1,495,254 0.0% * Unitika, Ltd. 2,118,000 938,828 0.0% Universal Entertainment Corp. 38,700 612,752 0.0% # UNY Group Holdings Co., Ltd. 553,000 2,931,691 0.0% #* Usen Corp. 202,800 637,349 0.0% Ushio, Inc. 194,700 2,043,326 0.0% USS Co., Ltd. 95,700 1,506,126 0.0% UT Holdings Co., Ltd. 38,400 181,718 0.0% Utoc Corp. 18,700 85,300 0.0% Valor Co., Ltd. 98,900 1,603,127 0.0% # Village Vanguard Co., Ltd. 8,500 110,880 0.0% Vital KSK Holdings, Inc. 62,385 532,048 0.0% # Vitec Co., Ltd. 2,000 13,518 0.0% # VT Holdings Co., Ltd. 162,900 643,330 0.0% Wacoal Holdings Corp. 249,000 2,593,020 0.0% # Wacom Co., Ltd. 237,100 909,703 0.0% # Wakachiku Construction Co., Ltd. 230,000 465,225 0.0% Wakamoto Pharmaceutical Co., Ltd. 9,000 22,495 0.0% Wakita & Co., Ltd. 93,200 931,306 0.0% Warabeya Nichiyo Co., Ltd. 39,100 685,637 0.0% * Watabe Wedding Corp. 9,400 47,423 0.0% # WATAMI Co., Ltd. 57,000 666,431 0.0% Weathernews, Inc. 11,100 303,338 0.0% # Welcia Holdings Co., Ltd. 47,200 1,576,824 0.0% Wellnet Corp. 6,900 108,565 0.0% # West Holdings Corp. 25,300 235,495 0.0% West Japan Railway Co. 64,300 3,064,883 0.0% Wood One Co., Ltd. 40,000 102,667 0.0% Wowow, Inc. 8,900 380,768 0.0% # Xebio Co., Ltd. 69,600 1,089,169 0.0% Y A C Co., Ltd. 9,900 52,864 0.0% # Yachiyo Industry Co., Ltd. 1,100 7,417 0.0% Yahagi Construction Co., Ltd. 62,700 474,682 0.0% Yahoo Japan Corp. 350,400 1,262,355 0.0% Yaizu Suisankagaku Industry Co., Ltd. 9,800 87,188 0.0% # Yakult Honsha Co., Ltd. 21,400 1,185,117 0.0% YAMABIKO Corp. 18,435 730,187 0.0% # Yamada Denki Co., Ltd. 1,511,700 4,845,941 0.1% # Yamagata Bank, Ltd. (The) 315,000 1,491,578 0.0% Yamaguchi Financial Group, Inc. 344,000 3,285,511 0.0% Yamaha Corp. 282,200 3,868,100 0.1% Yamaha Motor Co., Ltd. 279,000 5,278,045 0.1% # Yamaichi Electronics Co., Ltd. 65,800 509,007 0.0% Yamanashi Chuo Bank, Ltd. (The) 317,000 1,433,813 0.0% Yamatane Corp. 271,000 418,487 0.0% Yamato Corp. 26,000 95,173 0.0% Yamato Holdings Co., Ltd. 191,600 4,096,827 0.1% # Yamato Kogyo Co., Ltd. 60,400 1,956,656 0.0% # Yamaya Corp. 11,710 167,865 0.0% # Yamazaki Baking Co., Ltd. 230,000 2,843,403 0.0% # Yamazen Corp. 96,400 750,693 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) Yaoko Co., Ltd. 18,200 $ 1,118,041 0.0% # Yaskawa Electric Corp. 197,700 2,562,624 0.0% Yasuda Logistics Corp. 26,200 235,558 0.0% Yellow Hat, Ltd. 30,700 657,145 0.0% Yokogawa Bridge Holdings Corp. 62,300 800,944 0.0% Yokogawa Electric Corp. 129,000 1,794,769 0.0% # Yokohama Reito Co., Ltd. 107,700 798,564 0.0% Yokohama Rubber Co., Ltd. (The) 572,000 5,192,353 0.1% Yokowo Co., Ltd. 22,200 116,160 0.0% Yomeishu Seizo Co., Ltd. 2,000 15,859 0.0% # Yomiuri Land Co., Ltd. 124,000 548,534 0.0% Yondenko Corp. 23,000 83,410 0.0% # Yondoshi Holdings, Inc. 35,700 642,953 0.0% Yonekyu Corp. 900 12,656 0.0% # Yonex Co., Ltd. 9,400 83,688 0.0% Yorozu Corp. 39,000 671,089 0.0% Yoshinoya Holdings Co., Ltd. 36,400 417,024 0.0% Yuasa Funashoku Co., Ltd. 14,000 34,463 0.0% Yuasa Trading Co., Ltd. 41,700 786,583 0.0% Yuken Kogyo Co., Ltd. 85,000 188,535 0.0% Yuki Gosei Kogyo Co., Ltd. 11,000 24,697 0.0% # Yumeshin Holdings Co., Ltd. 32,700 231,940 0.0% Yurtec Corp. 113,000 628,382 0.0% Yusen Logistics Co., Ltd. 47,600 480,110 0.0% Yushin Precision Equipment Co., Ltd. 5,226 106,754 0.0% Yushiro Chemical Industry Co., Ltd. 19,400 244,467 0.0% Yutaka Foods Corp. 4,000 65,298 0.0% Yutaka Giken Co., Ltd. 200 4,316 0.0% Zappallas, Inc. 11,600 62,687 0.0% # Zenrin Co., Ltd. 55,000 676,136 0.0% # Zensho Holdings Co., Ltd. 258,400 2,345,586 0.0% Zeon Corp. 428,000 3,961,702 0.1% ZERIA Pharmaceutical Co., Ltd. 35,399 710,449 0.0% # Zojirushi Corp. 18,000 112,602 0.0% # Zuiko Corp. 4,200 201,391 0.0% -------------------- ------------------ TOTAL JAPAN 2,587,691,293 21.0% -------------------- ------------------ NETHERLANDS -- (2.3%) Aalberts Industries NV 237,691 6,335,834 0.1% # Accell Group 30,889 492,819 0.0% Aegon NV(007924103) 110,189 900,244 0.0% Aegon NV(5927375) 1,538,681 12,540,940 0.1% # Akzo Nobel NV 181,929 12,132,209 0.1% Akzo Nobel NV Sponsored ADR 70,415 1,556,171 0.0% * AMG Advanced Metallurgical Group NV 82,123 678,195 0.0% Amsterdam Commodities NV 30,583 687,283 0.0% #* APERAM 130,200 3,746,101 0.0% Arcadis NV 162,750 5,006,710 0.0% # ArcelorMittal(B295F26) 456,502 6,007,566 0.1% ArcelorMittal(B03XPL1) 431,630 5,669,967 0.1% ASM International NV(N07045102) 343 11,226 0.0% ASM International NV(5165294) 101,222 4,056,240 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- NETHERLANDS -- (Continued) # ASML Holding NV(B908F01) 40,988 $ 4,085,684 0.0% ASML Holding NV(B929F46) 58,212 5,804,453 0.1% BE Semiconductor Industries NV 107,056 2,039,126 0.0% Beter Bed Holding NV 13,418 276,246 0.0% BinckBank NV 132,007 1,308,278 0.0% Brunel International NV 45,220 1,016,411 0.0% Corbion NV 57,135 923,718 0.0% Delta Lloyd NV 431,572 9,836,926 0.1% Exact Holding NV 14,475 570,113 0.0% #* Fiat Chrysler Automobiles NV 8,900 101,994 0.0% # Fugro NV 139,632 1,925,260 0.0% #* Galapagos NV 40,836 568,746 0.0% # Gemalto NV 80,105 6,126,969 0.1% * Grontmij 114,015 525,496 0.0% # Heijmans NV 60,905 829,034 0.0% Heineken NV 62,584 4,675,282 0.0% Hunter Douglas NV 1,366 56,617 0.0% * ING Groep NV 480,158 6,876,036 0.1% #* ING Groep NV Sponsored ADR 1,495,332 21,413,154 0.2% KAS Bank NV 14,228 172,064 0.0% Kendrion NV 24,447 682,515 0.0% Koninklijke Ahold NV 1,259,643 21,097,302 0.2% Koninklijke Ahold NV Sponsored ADR 20,012 335,806 0.0% # Koninklijke BAM Groep NV 416,754 999,408 0.0% Koninklijke Boskalis Westminster NV 209,087 11,154,863 0.1% Koninklijke DSM NV 158,584 9,936,552 0.1% Koninklijke KPN NV 4,700,761 15,473,646 0.1% Koninklijke Philips NV(500472303) 339,316 9,480,489 0.1% Koninklijke Philips NV(5986622) 545,497 15,250,941 0.1% # Koninklijke Ten Cate NV 66,335 1,496,133 0.0% Koninklijke Vopak NV 107,123 5,372,148 0.0% Koninklijke Wessanen NV 216,802 1,386,319 0.0% * Macintosh Retail Group NV 49,262 303,659 0.0% Nederland Apparatenfabriek 3,562 123,725 0.0% Nutreco NV 168,696 8,449,541 0.1% #* Ordina NV 244,877 401,847 0.0% * PostNL NV 754,612 3,207,363 0.0% Randstad Holding NV 181,609 8,016,456 0.1% Reed Elsevier NV 293,837 6,768,609 0.1% # Reed Elsevier NV Sponsored ADR 46,349 2,132,517 0.0% #* Royal Imtech NV 94,217 516,279 0.0% #* SBM Offshore NV 434,211 5,435,006 0.1% Sligro Food Group NV 24,884 918,733 0.0% #* SNS Reaal NV 262,485 -- 0.0% * Telegraaf Media Groep NV 22,328 174,076 0.0% TKH Group NV 85,728 2,597,459 0.0% TNT Express NV 853,923 4,963,433 0.0% * TomTom NV 278,537 2,023,370 0.0% Unilever NV(B12T3J1) 254,294 9,856,041 0.1% # Unilever NV(904784709) 119,296 4,620,334 0.0% USG People NV 165,323 1,658,486 0.0% Van Lanschot NV 214 4,791 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- NETHERLANDS -- (Continued) Wolters Kluwer NV 598,276 $ 15,973,188 0.1% Ziggo NV 120,289 5,878,298 0.1% -------------------- ------------------ TOTAL NETHERLANDS 305,642,445 2.5% -------------------- ------------------ NEW ZEALAND -- (0.3%) * a2 Milk Co., Ltd. 39,073 17,883 0.0% Abano Healthcare Group, Ltd. 13,023 69,805 0.0% Air New Zealand, Ltd. 1,179,917 1,867,906 0.0% Auckland International Airport, Ltd. 1,656,921 5,009,181 0.1% * Bathurst Resources, Ltd. 558,054 15,239 0.0% Chorus, Ltd. 140,010 232,267 0.0% * Chorus, Ltd. ADR 10,487 86,046 0.0% # Contact Energy, Ltd. 590,921 2,866,679 0.0% * Diligent Board Member Services, Inc. 5,821 21,715 0.0% Ebos Group, Ltd. 39,319 294,907 0.0% Fisher & Paykel Healthcare Corp., Ltd. 693,908 3,032,384 0.0% Fletcher Building, Ltd.(6341606) 635,752 4,288,096 0.1% # Fletcher Building, Ltd.(6341617) 96,640 655,987 0.0% Freightways, Ltd. 119,215 532,386 0.0% Hallenstein Glasson Holdings, Ltd. 16,145 41,434 0.0% Heartland New Zealand, Ltd. 12,825 10,033 0.0% Infratil, Ltd. 605,353 1,360,695 0.0% Kathmandu Holdings, Ltd. 44,820 110,911 0.0% Mainfreight, Ltd. 84,025 1,043,769 0.0% Metlifecare, Ltd. 15,477 52,186 0.0% Michael Hill International, Ltd. 72,300 74,982 0.0% New Zealand Oil & Gas, Ltd. 416,158 239,908 0.0% New Zealand Refining Co., Ltd. (The) 66,827 88,513 0.0% # Nuplex Industries, Ltd. 279,211 688,882 0.0% NZX, Ltd. 87,691 81,617 0.0% #* Pacific Edge, Ltd. 20,054 14,183 0.0% PGG Wrightson, Ltd. 151,904 54,130 0.0% * Pike River Coal, Ltd. 224,242 -- 0.0% # Port of Tauranga, Ltd. 87,950 1,124,058 0.0% * Pumpkin Patch, Ltd. 37,217 10,671 0.0% Restaurant Brands New Zealand, Ltd. 145,276 415,758 0.0% * Rubicon, Ltd. 64,229 17,148 0.0% Ryman Healthcare, Ltd. 238,698 1,413,243 0.0% Sanford, Ltd. 31,342 123,630 0.0% # Skellerup Holdings, Ltd. 20,500 23,266 0.0% Sky Network Television, Ltd. 376,796 1,870,914 0.0% SKYCITY Entertainment Group, Ltd. 1,023,315 3,128,682 0.0% Spark New Zealand, Ltd. 2,196,431 5,420,360 0.1% # Steel & Tube Holdings, Ltd. 31,356 73,246 0.0% Summerset Group Holdings, Ltd. 40,399 86,132 0.0% Tourism Holdings, Ltd. 23,932 27,264 0.0% Tower, Ltd. 176,617 272,152 0.0% # Trade Me Group, Ltd. 101,226 310,857 0.0% # TrustPower, Ltd. 75,810 443,634 0.0% Vector, Ltd. 268,822 574,581 0.0% Warehouse Group, Ltd. (The) 86,281 208,996 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- NEW ZEALAND -- (Continued) #* Xero, Ltd. 22,518 $ 279,308 0.0% -------------------- ------------------ TOTAL NEW ZEALAND 38,675,624 0.3% -------------------- ------------------ NORWAY -- (0.9%) # ABG Sundal Collier Holding ASA 454,248 333,378 0.0% # Akastor ASA 207,195 713,667 0.0% Aker ASA Class A 36,431 888,630 0.0% * Aker Solutions ASA 207,195 1,342,400 0.0% # American Shipping ASA 61,364 400,456 0.0% * Archer, Ltd. 833,810 803,619 0.0% # Atea ASA 149,934 1,639,302 0.0% Austevoll Seafood ASA 184,411 1,199,202 0.0% Bakkafrost P/F 56,111 1,371,973 0.0% #* Bionor Pharma ASA 71,347 30,811 0.0% Bonheur ASA 17,950 224,723 0.0% BW Offshore, Ltd. 1,056,469 1,297,059 0.0% Deep Sea Supply P.L.C. 201,559 228,254 0.0% #* Det Norske Oljeselskap ASA 68,677 444,514 0.0% DNB ASA 567,746 10,430,774 0.1% #* DNO ASA 662,209 1,604,376 0.0% * DOF ASA 67,981 198,245 0.0% * Dolphin Group A.S. 184,083 78,902 0.0% Ekornes ASA 24,912 265,931 0.0% #* Electromagnetic GeoServices 146,987 78,342 0.0% Eltek ASA 321,422 466,641 0.0% Evry ASA 62,231 156,928 0.0% Farstad Shipping ASA 7,858 90,637 0.0% Fred Olsen Energy ASA 30,682 327,421 0.0% #* Frontline, Ltd. 154,437 218,326 0.0% # Ganger Rolf ASA 23,563 295,166 0.0% # Gjensidige Forsikring ASA 111,240 2,020,623 0.0% Golar LNG, Ltd. 19,800 1,110,978 0.0% # Golden Ocean Group, Ltd. 784,564 954,889 0.0% * Grieg Seafood ASA 62,647 266,899 0.0% * Havila Shipping ASA 3,252 13,040 0.0% # Hexagon Composites ASA 171,772 714,809 0.0% #* Hoegh LNG Holdings, Ltd. 51,234 660,858 0.0% * Hurtigruten ASA 536,659 545,829 0.0% #* InterOil Exploration and Production ASA 307,648 11,100 0.0% * Kongsberg Automotive ASA 1,477,146 1,413,420 0.0% Kongsberg Gruppen A.S. 34,527 698,705 0.0% # Kvaerner ASA 547,507 721,770 0.0% Leroey Seafood Group ASA 44,833 1,696,007 0.0% Marine Harvest ASA 345,182 4,888,629 0.1% #* Nordic Semiconductor ASA 281,940 1,588,325 0.0% Norsk Hydro ASA 1,292,989 7,239,338 0.1% # Norsk Hydro ASA Sponsored ADR 50,900 288,603 0.0% #* Norske Skogindustrier ASA 615,107 327,881 0.0% Northern Offshore, Ltd. 34,847 43,399 0.0% #* Norwegian Air Shuttle ASA 54,493 1,759,474 0.0% #* Norwegian Energy Co. ASA 25,489 11,688 0.0% #* Odfjell SE Class A 41,255 161,612 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- NORWAY -- (Continued) Olav Thon Eiendomsselskap ASA 4,360 $ 76,278 0.0% Opera Software ASA 94,210 1,179,793 0.0% Orkla ASA 476,121 3,640,437 0.1% #* Panoro Energy ASA 960,998 367,751 0.0% # Petroleum Geo-Services ASA 617,145 3,065,241 0.0% * PhotoCure ASA 4,035 10,992 0.0% # Prosafe SE 430,567 1,969,867 0.0% * Q-Free ASA 66,600 118,130 0.0% #* REC Silicon ASA 2,751,631 1,100,089 0.0% * REC Solar ASA 47,098 629,764 0.0% Salmar ASA 77,918 1,403,813 0.0% # Schibsted ASA 31,573 1,669,935 0.0% # Seadrill, Ltd.(B09RMQ1) 75,524 1,706,773 0.0% # Seadrill, Ltd.(B0HWHV8) 219,498 5,048,454 0.1% #* Sevan Drilling A.S. 460,763 66,105 0.0% Sevan Marine ASA 66,506 217,182 0.0% Siem Offshore, Inc. 222,158 172,202 0.0% Solstad Offshore ASA 7,538 91,673 0.0% #* Songa Offshore 267,146 92,201 0.0% SpareBank 1 SMN 52,734 468,924 0.0% SpareBank 1 SR Bank ASA 188,712 1,623,327 0.0% Statoil ASA 488,942 11,189,648 0.1% # Statoil ASA Sponsored ADR 517,408 11,874,514 0.1% Stolt-Nielsen, Ltd. 32,237 580,843 0.0% * Storebrand ASA 624,737 3,203,279 0.1% Subsea 7 SA 255,062 2,744,819 0.0% Telenor ASA 145,545 3,272,818 0.1% # TGS Nopec Geophysical Co. ASA 66,070 1,541,266 0.0% # Tomra Systems ASA 218,951 1,640,224 0.0% * TTS Group ASA 11,319 6,474 0.0% Veidekke ASA 118,304 1,149,028 0.0% Wilh Wilhelmsen ASA 96,251 700,706 0.0% Wilh Wilhelmsen Holding ASA Class A 19,944 531,359 0.0% Yara International ASA 147,299 6,764,168 0.1% -------------------- ------------------ TOTAL NORWAY 122,185,630 1.0% -------------------- ------------------ PORTUGAL -- (0.3%) Altri SGPS SA 358,921 1,003,558 0.0% #* Banco BPI SA 944,684 1,850,352 0.0% #* Banco Comercial Portugues SA 50,850,879 5,747,503 0.1% * Banco Espirito Santo SA 3,375,184 -- 0.0% Corticeira Amorim SGPS SA 168,857 635,633 0.0% EDP - Energias de Portugal SA 910,004 3,916,045 0.0% EDP - Energias de Portugal SA Sponsored ADR 7,202 309,758 0.0% EDP Renovaveis SA 433,974 2,821,544 0.0% Galp Energia SGPS SA 279,494 4,052,233 0.1% #* Impresa SGPS SA 49,210 61,731 0.0% Jeronimo Martins SGPS SA 246,548 2,157,692 0.0% Mota-Engil SGPS SA 214,005 1,122,959 0.0% NOS SGPS 466,946 2,678,907 0.0% Novabase SGPS SA 12,258 36,855 0.0% Portucel SA 473,809 1,763,432 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- PORTUGAL -- (Continued) # Portugal Telecom SGPS SA 953,354 $ 1,561,507 0.0% REN - Redes Energeticas Nacionais SGPS SA 505,435 1,566,689 0.0% Semapa-Sociedade de Investimento e Gestao 138,778 1,679,320 0.0% #* Sonae Industria SGPS SA 132,969 29,935 0.0% Sonae SGPS SA 2,982,821 4,000,665 0.1% # Teixeira Duarte SA 243,459 240,389 0.0% -------------------- ------------------ TOTAL PORTUGAL 37,236,707 0.3% -------------------- ------------------ RUSSIA -- (0.0%) * Exillon Energy P.L.C. 43,826 106,452 0.0% -------------------- ------------------ SINGAPORE -- (1.3%) * Abterra, Ltd. 189,000 110,293 0.0% Amara Holdings, Ltd. 248,000 100,583 0.0% # Amtek Engineering, Ltd. 725,000 341,275 0.0% ASL Marine Holdings, Ltd. 282,800 131,278 0.0% #* Ausgroup, Ltd. 1,205,939 331,785 0.0% Banyan Tree Holdings, Ltd. 409,000 197,351 0.0% #* Biosensors International Group, Ltd. 2,670,901 1,299,001 0.0% Bonvests Holdings, Ltd. 51,600 55,113 0.0% Boustead Singapore, Ltd. 482,000 689,571 0.0% Breadtalk Group, Ltd. 354,000 362,605 0.0% * Broadway Industrial Group, Ltd. 589,333 92,368 0.0% Bukit Sembawang Estates, Ltd. 125,000 516,756 0.0% Bund Center Investment, Ltd. 1,264,000 194,974 0.0% CapitaLand, Ltd. 2,336,500 5,768,622 0.1% # Centurion Corp., Ltd. 585,000 245,878 0.0% CH Offshore, Ltd. 330,000 124,066 0.0% China Aviation Oil Singapore Corp., Ltd. 334,800 192,917 0.0% # China Merchants Holdings Pacific, Ltd. 228,000 159,932 0.0% Chip Eng Seng Corp., Ltd. 1,714,000 1,173,657 0.0% City Developments, Ltd. 375,000 2,759,971 0.0% Cityspring Infrastructure Trust 465,000 184,791 0.0% ComfortDelGro Corp., Ltd. 2,112,169 4,342,624 0.1% # Cosco Corp. Singapore, Ltd. 2,903,000 1,345,738 0.0% CSC Holdings, Ltd. 396,000 21,208 0.0% CSE Global, Ltd. 1,696,000 891,058 0.0% # CWT, Ltd. 702,000 882,985 0.0% # DBS Group Holdings, Ltd. 969,191 13,942,214 0.1% #* Del Monte Pacific, Ltd. 431,000 184,587 0.0% * Delong Holdings, Ltd. 207,200 32,991 0.0% DMX Technologies Group, Ltd. 256,000 31,939 0.0% # Dyna-Mac Holdings, Ltd. 1,485,000 445,724 0.0% Elec & Eltek International Co., Ltd. 20,000 28,890 0.0% Eu Yan Sang International, Ltd. 44,400 26,095 0.0% * euNetworks Group, Ltd. 41,380 21,301 0.0% # Ezion Holdings, Ltd. 2,701,960 3,181,801 0.1% # Ezra Holdings, Ltd. 2,314,000 1,470,358 0.0% Falcon Energy Group, Ltd. 1,074,000 251,031 0.0% Far East Orchard, Ltd. 255,401 345,026 0.0% # First Resources, Ltd. 1,198,000 1,940,861 0.0% FJ Benjamin Holdings, Ltd. 527,000 71,153 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- SINGAPORE -- (Continued) Food Empire Holdings, Ltd. 144,800 $ 39,877 0.0% Fragrance Group, Ltd. 1,448,000 242,062 0.0% #* Gallant Venture, Ltd. 1,671,000 318,601 0.0% # Genting Hong Kong, Ltd. 678,000 248,201 0.0% # Genting Singapore P.L.C. 2,591,000 2,219,112 0.0% #* Geo Energy Resources, Ltd. 1,097,000 200,762 0.0% Global Logistic Properties, Ltd. 1,535,000 3,289,450 0.1% Global Premium Hotels, Ltd. 115,840 31,519 0.0% * Global Yellow Pages, Ltd. 72,500 2,482 0.0% GMG Global, Ltd. 5,413,000 261,953 0.0% Golden Agri-Resources, Ltd. 6,154,569 2,494,145 0.0% GP Industries, Ltd. 174,000 74,425 0.0% Great Eastern Holdings, Ltd. 30,000 560,379 0.0% # GuocoLand, Ltd. 435,221 646,283 0.0% GuocoLeisure, Ltd. 1,308,000 937,510 0.0% * Healthway Medical Corp., Ltd. 2,577,133 94,199 0.0% HG Metal Manufacturing, Ltd. 300,000 17,007 0.0% Hi-P International, Ltd. 525,000 265,713 0.0% # Hiap Hoe, Ltd. 128,000 82,170 0.0% Hiap Seng Engineering, Ltd. 120,000 17,667 0.0% Ho Bee Land, Ltd. 547,000 848,725 0.0% Hong Fok Corp., Ltd. 862,080 597,303 0.0% Hong Leong Asia, Ltd. 216,000 231,852 0.0% Hongkong Land Holdings, Ltd. 257,000 1,792,297 0.0% Hotel Grand Central, Ltd. 139,822 143,686 0.0% Hour Glass, Ltd. (The) 50,000 71,919 0.0% HTL International Holdings, Ltd. 328,000 69,465 0.0% HupSteel, Ltd. 145,000 23,178 0.0% Hutchison Port Holdings Trust 3,342,000 2,256,549 0.0% Hwa Hong Corp., Ltd. 280,000 70,928 0.0% # Hyflux, Ltd. 1,308,000 1,029,162 0.0% # Indofood Agri Resources, Ltd. 1,355,000 881,614 0.0% InnoTek, Ltd. 87,000 18,651 0.0% Innovalues, Ltd. 452,000 146,056 0.0% #* Interra Resources, Ltd. 483,000 80,799 0.0% IPC Corp., Ltd. 1,401,000 160,603 0.0% # ISDN Holdings, Ltd. 39,000 9,583 0.0% Jardine Cycle & Carriage, Ltd. 38,838 1,207,257 0.0% #* Jiutian Chemical Group, Ltd. 2,526,000 109,507 0.0% * Jurong Technologies Industrial Corp., Ltd. 213,200 -- 0.0% k1 Ventures, Ltd. 1,643,000 262,324 0.0% Keppel Corp., Ltd. 478,200 3,506,742 0.1% Keppel Infrastructure Trust 170,400 139,330 0.0% Keppel Land, Ltd. 680,000 1,769,437 0.0% # Keppel Telecommunications & Transportation, Ltd. 139,000 187,302 0.0% Koh Brothers Group, Ltd. 193,000 46,620 0.0% # KSH Holdings, Ltd. 23,000 9,492 0.0% LCD Global Investments, Ltd. 770,400 183,023 0.0% Lee Kim Tah Holdings, Ltd. 60,000 50,623 0.0% * Li Heng Chemical Fibre Technologies, Ltd. 1,245,000 100,395 0.0% Lian Beng Group, Ltd. 1,552,000 834,110 0.0% #* Linc Energy, Ltd. 478,535 386,178 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- SINGAPORE -- (Continued) #* LionGold Corp., Ltd. 1,707,000 $ 35,952 0.0% Low Keng Huat Singapore, Ltd. 293,000 149,058 0.0% Lum Chang Holdings, Ltd. 160,000 46,725 0.0% M1, Ltd. 357,000 969,761 0.0% Marco Polo Marine, Ltd. 269,000 69,190 0.0% * Mercator Lines Singapore, Ltd. 12,000 646 0.0% Mewah International, Inc. 336,000 98,022 0.0% # Midas Holdings, Ltd. 1,938,000 490,570 0.0% # Nam Cheong, Ltd. 4,795,000 1,474,965 0.0% #* Neptune Orient Lines, Ltd. 2,086,000 1,356,939 0.0% Noble Group, Ltd. 6,368,000 5,927,702 0.1% NSL, Ltd. 75,000 96,192 0.0% * Oceanus Group, Ltd. 4,001,000 40,421 0.0% # Olam International, Ltd. 711,000 1,180,005 0.0% # OSIM International, Ltd. 639,000 925,669 0.0% OUE Hospitality Trust 81,999 58,101 0.0% # OUE, Ltd. 492,000 808,862 0.0% Oversea-Chinese Banking Corp., Ltd. 1,139,303 8,776,172 0.1% # Oxley Holdings, Ltd. 737,000 312,992 0.0% Pan-United Corp., Ltd. 268,000 192,165 0.0% Penguin International, Ltd. 1,543,000 276,861 0.0% Petra Foods, Ltd. 176,000 521,660 0.0% Popular Holdings, Ltd. 590,000 110,206 0.0% QAF, Ltd. 313,090 247,640 0.0% Raffles Education Corp., Ltd. 1,924,667 510,204 0.0% Raffles Medical Group, Ltd. 522,800 1,547,768 0.0% Rotary Engineering, Ltd. 609,000 287,216 0.0% * S I2I, Ltd. 4,170,000 14,607 0.0% San Teh, Ltd. 90,400 20,923 0.0% # SATS, Ltd. 1,188,392 2,868,014 0.0% SBS Transit, Ltd. 54,000 69,763 0.0% See Hup Seng, Ltd. 708,000 151,385 0.0% SembCorp Industries, Ltd. 858,000 3,245,889 0.1% # SembCorp Marine, Ltd. 502,800 1,424,447 0.0% Sheng Siong Group, Ltd. 1,257,000 655,592 0.0% # SIA Engineering Co., Ltd. 97,000 359,701 0.0% Sim Lian Group, Ltd. 206,794 141,730 0.0% Sinarmas Land, Ltd. 3,093,000 1,469,446 0.0% Sing Holdings, Ltd. 263,000 69,614 0.0% Singapore Airlines, Ltd. 567,400 4,372,744 0.1% Singapore Exchange, Ltd. 451,000 2,457,823 0.0% Singapore Post, Ltd. 1,721,216 2,641,842 0.0% # Singapore Press Holdings, Ltd. 648,000 2,159,870 0.0% Singapore Reinsurance Corp., Ltd. 55,000 12,641 0.0% Singapore Shipping Corp., Ltd. 137,000 27,207 0.0% Singapore Technologies Engineering, Ltd. 904,000 2,639,270 0.0% Singapore Telecommunications, Ltd. 2,931,350 8,627,775 0.1% #* Sino Grandness Food Industry Group, Ltd. 1,490,000 498,853 0.0% # SMRT Corp., Ltd. 1,309,000 1,518,893 0.0% # Stamford Land Corp., Ltd. 1,024,000 442,530 0.0% StarHub, Ltd. 237,710 764,073 0.0% Sunningdale Tech, Ltd. 1,938,000 298,977 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- SINGAPORE -- (Continued) #* SunVic Chemical Holdings, Ltd. 734,000 $ 331,438 0.0% # Super Group, Ltd. 858,000 789,636 0.0% # Swiber Holdings, Ltd. 1,452,000 445,728 0.0% # Swissco Holdings, Ltd. 636,000 403,938 0.0% # Tat Hong Holdings, Ltd. 714,000 436,582 0.0% Thakral Corp., Ltd. 793,000 16,069 0.0% Tiong Woon Corp. Holding, Ltd. 465,750 107,062 0.0% Triyards holdings, Ltd. 113,399 58,583 0.0% #* TT International, Ltd. 330,000 40,061 0.0% Tuan Sing Holdings, Ltd. 2,229,400 756,276 0.0% UMS Holdings, Ltd. 1,041,750 409,717 0.0% United Engineers, Ltd. 708,304 1,583,094 0.0% # United Envirotech, Ltd. 766,275 874,686 0.0% # United Industrial Corp., Ltd. 710,663 1,848,980 0.0% United Overseas Bank, Ltd. 612,372 10,971,055 0.1% UOB-Kay Hian Holdings, Ltd. 510,218 607,702 0.0% UOL Group, Ltd. 937,588 4,709,271 0.1% # UPP Holdings, Ltd. 610,000 121,618 0.0% #* Vard Holdings, Ltd. 1,836,000 981,823 0.0% Venture Corp., Ltd. 512,000 3,083,981 0.1% # Vibrant Group, Ltd. 4,277,508 353,438 0.0% Wee Hur Holdings, Ltd. 872,000 254,186 0.0% Wheelock Properties Singapore, Ltd. 186,347 261,500 0.0% Wilmar International, Ltd. 896,000 2,233,450 0.0% Wing Tai Holdings, Ltd. 1,359,124 1,893,719 0.0% Yeo Hiap Seng, Ltd. 63,135 94,360 0.0% YHI International, Ltd. 96,000 17,552 0.0% # Yongnam Holdings, Ltd. 2,311,000 414,444 0.0% -------------------- ------------------ TOTAL SINGAPORE 171,323,820 1.4% -------------------- ------------------ SPAIN -- (2.5%) # Abengoa SA 127,165 563,615 0.0% # Abengoa SA Class B 1,212,889 5,126,431 0.0% # Abertis Infraestructuras SA 232,342 4,844,874 0.0% * Acciona SA 78,446 5,482,472 0.1% Acerinox SA 234,647 3,491,447 0.0% ACS Actividades de Construccion y Servicios SA 117,539 4,362,793 0.0% Adveo Group International SA 11,755 213,635 0.0% * Almirall SA 99,782 1,636,366 0.0% Amadeus IT Holding SA Class A 213,424 7,852,331 0.1% Atresmedia Corp de Medios de Comunicacion SA 93,668 1,374,528 0.0% * Azkoyen SA 14,561 34,329 0.0% Banco Bilbao Vizcaya Argentaria SA 1,271,380 14,220,237 0.1% # Banco Bilbao Vizcaya Argentaria SA Sponsored ADR 944,299 10,538,377 0.1% Banco de Sabadell SA 4,078,857 11,792,874 0.1% Banco Popular Espanol SA 1,690,957 9,713,211 0.1% Banco Santander SA 4,404,667 38,917,538 0.3% # Banco Santander SA Sponsored ADR 2,271,195 19,918,380 0.2% * Bankia SA 2,763,826 4,956,498 0.0% Bankinter SA 1,062,318 8,788,034 0.1% #* Baron de Ley 2,982 270,577 0.0% Bolsas y Mercados Espanoles SA 147,653 5,617,674 0.1% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- SPAIN -- (Continued) CaixaBank SA 1,462,811 $ 7,994,559 0.1% * Caja de Ahorros del Mediterraneo 21,176 -- 0.0% #* Cementos Portland Valderrivas SA 36,737 195,864 0.0% # Cie Automotive SA 96,254 1,305,854 0.0% # Construcciones y Auxiliar de Ferrocarriles SA 3,869 1,288,149 0.0% * Deoleo SA 1,150,419 533,692 0.0% Distribuidora Internacional de Alimentacion SA 724,947 4,606,150 0.0% # Duro Felguera SA 166,264 753,110 0.0% Ebro Foods SA 155,897 2,790,430 0.0% Elecnor SA 10,259 114,424 0.0% Enagas SA 247,597 8,309,292 0.1% # Ence Energia y Celulosa SA 313,864 679,774 0.0% * Ercros SA 127,395 75,759 0.0% Faes Farma SA 232,611 540,340 0.0% Ferrovial SA 242,263 4,953,077 0.0% Fluidra SA 12,607 41,292 0.0% #* Fomento de Construcciones y Contratas SA 125,144 2,302,249 0.0% * Gamesa Corp. Tecnologica SA 757,120 7,475,069 0.1% Gas Natural SDG SA 229,272 6,620,627 0.1% Grifols SA 67,555 2,758,553 0.0% # Grupo Catalana Occidente SA 83,933 2,532,379 0.0% #* Grupo Ezentis SA 315,524 284,595 0.0% Iberdrola SA 3,664,318 25,939,399 0.2% Iberpapel Gestion SA 4,081 61,600 0.0% Inditex SA 216,787 6,098,889 0.1% # Indra Sistemas SA 297,998 3,292,101 0.0% * Inmobiliaria Colonial SA 19,488 13,750 0.0% * Jazztel P.L.C. 390,068 6,236,243 0.1% Mapfre SA 1,826,426 6,262,912 0.1% * Mediaset Espana Comunicacion SA 521,195 6,543,259 0.1% # Melia Hotels International SA 148,922 1,489,690 0.0% # Miquel y Costas & Miquel SA 15,340 537,491 0.0% * Natra SA 13,117 19,915 0.0% #* NH Hotel Group SA 229,178 1,046,406 0.0% # Obrascon Huarte Lain SA 132,732 3,880,455 0.0% Papeles y Cartones de Europa SA 140,666 734,715 0.0% * Pescanova SA 22,953 -- 0.0% Prim SA 5,102 40,518 0.0% #* Promotora de Informaciones SA Class A 1,597,504 451,850 0.0% Prosegur Cia de Seguridad SA 368,442 2,164,126 0.0% #* Quabit Inmobiliaria SA 284,665 28,622 0.0% #* Realia Business SA 191,857 279,770 0.0% Red Electrica Corp. SA 96,741 8,453,350 0.1% Repsol SA 320,804 7,169,638 0.1% Repsol SA Sponsored ADR 281,354 6,305,143 0.1% * Sacyr SA 522,746 2,296,861 0.0% * Sociedad Nacional de Industrias Apicaciones Celulosa Espanola SA 56,486 2,601 0.0% * Solaria Energia y Medio Ambiente SA 34,875 39,572 0.0% Tecnicas Reunidas SA 49,752 2,450,943 0.0% #* Telecomunicaciones y Energia 27,058 46,698 0.0% Telefonica SA 1,313,323 19,762,462 0.2% Telefonica SA Sponsored ADR 229,616 3,439,647 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- SPAIN -- (Continued) Tubacex SA 320,439 $ 1,362,726 0.0% Tubos Reunidos SA 270,690 792,896 0.0% # Vidrala SA 24,069 956,239 0.0% # Viscofan SA 74,126 4,358,651 0.0% * Vocento SA 49,923 95,572 0.0% # Zardoya Otis SA 174,370 2,033,157 0.0% #* Zeltia SA 288,871 942,718 0.0% -------------------- ------------------ TOTAL SPAIN 341,502,044 2.8% -------------------- ------------------ SWEDEN -- (2.8%) AAK AB 64,325 3,488,844 0.0% Acando AB 92,379 142,330 0.0% # AddTech AB Class B 36,741 520,777 0.0% AF AB Class B 125,751 1,905,733 0.0% Alfa Laval AB 210,603 4,341,348 0.1% #* Arise AB 1,101 2,530 0.0% Assa Abloy AB Class B 183,502 9,741,121 0.1% Atlas Copco AB Class A 139,645 4,044,925 0.0% Atlas Copco AB Class B 80,498 2,132,217 0.0% Atrium Ljungberg AB Class B 30,696 429,533 0.0% # Avanza Bank Holding AB 32,691 1,041,636 0.0% # Axfood AB 32,143 1,977,914 0.0% # Axis Communications AB 70,834 1,936,344 0.0% B&B Tools AB Class B 47,200 884,868 0.0% #* BE Group AB 67,268 57,577 0.0% Beijer Alma AB 12,450 289,703 0.0% Beijer Electronics AB 2,424 17,983 0.0% Beijer Ref AB Class B 6,430 116,792 0.0% Betsson AB 94,388 3,334,950 0.0% Bilia AB Class A 73,625 2,089,963 0.0% BillerudKorsnas AB 362,543 5,287,971 0.1% BioGaia AB Class B 8,331 212,271 0.0% # Biotage AB 44,000 70,122 0.0% # Bjoern Borg AB 24,143 73,368 0.0% Boliden AB 583,153 9,637,980 0.1% Bulten AB 23,206 193,427 0.0% Bure Equity AB 113,957 477,582 0.0% Byggmax Group AB 218,246 1,354,406 0.0% Castellum AB 278,593 4,272,260 0.0% Catena AB 500 6,794 0.0% #* CDON Group AB 71,748 193,963 0.0% Clas Ohlson AB Class B 64,843 1,117,504 0.0% * Cloetta AB Class B 105,208 305,470 0.0% Concentric AB 89,458 1,094,603 0.0% * Concordia Maritime AB Class B 30,791 46,203 0.0% * CyberCom Group AB 79,025 28,011 0.0% Dios Fastigheter AB 45,450 307,937 0.0% # Doro AB 45,747 201,475 0.0% Duni AB 75,738 1,079,869 0.0% Electrolux AB Series B 256,930 7,280,055 0.1% # Elekta AB Class B 333,025 3,415,136 0.0% Enea AB 26,784 219,535 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- SWEDEN -- (Continued) #* Eniro AB 286,106 $ 314,868 0.0% Fabege AB 237,178 3,044,576 0.0% Fagerhult AB 8,022 148,066 0.0% * Fastighets AB Balder 64,093 835,095 0.0% #* Fenix Outdoor International AG 890 39,654 0.0% Getinge AB Class B 315,146 7,230,446 0.1% Gunnebo AB 127,510 644,544 0.0% Haldex AB 220,046 2,700,607 0.0% Hennes & Mauritz AB Class B 227,733 9,086,426 0.1% Hexagon AB Class B 212,664 7,176,469 0.1% Hexpol AB 43,205 3,827,843 0.0% HIQ International AB 107,630 582,305 0.0% Holmen AB Class B 98,731 3,267,757 0.0% Hufvudstaden AB Class A 70,229 911,290 0.0% Husqvarna AB Class A 107,719 798,527 0.0% Husqvarna AB Class B 711,699 5,313,642 0.1% # ICA Gruppen AB 131,974 5,284,324 0.1% Industrial & Financial Systems Class B 36,042 1,122,295 0.0% Indutrade AB 42,573 1,719,163 0.0% Intrum Justitia AB 162,254 4,832,200 0.1% JM AB 211,894 6,848,892 0.1% * Kambi Group P.L.C. Class B 561 5,357 0.0% * KappAhl AB 184,538 1,022,890 0.0% #* Karolinska Development AB Class B 2,619 4,466 0.0% Klovern AB 91,294 464,787 0.0% KNOW IT AB 27,286 199,483 0.0% Kungsleden AB 225,600 1,407,326 0.0% Lagercrantz AB Class B 28,386 538,093 0.0% #* Lindab International AB 140,594 1,292,632 0.0% Loomis AB Class B 154,611 4,259,386 0.0% * Lundin Petroleum AB 236,565 3,343,747 0.0% Meda AB Class A 466,508 6,109,429 0.1% #* Medivir AB Class B 93,662 1,581,591 0.0% Mekonomen AB 24,494 516,653 0.0% # Millicom International Cellular SA 51,230 4,181,157 0.0% Modern Times Group AB Class B 90,579 2,800,337 0.0% MQ Holding AB 6,292 28,650 0.0% # Mycronic AB 232,513 631,477 0.0% NCC AB Class A 7,059 208,048 0.0% # NCC AB Class B 211,210 6,212,754 0.1% Nederman Holding AB 402 8,423 0.0% Net Entertainment NE AB 46,949 1,450,764 0.0% #* Net Insight AB Class B 597,227 245,588 0.0% # New Wave Group AB Class B 121,417 558,552 0.0% Nibe Industrier AB Class B 134,315 3,565,293 0.0% Nobia AB 280,778 2,282,387 0.0% Nolato AB Class B 79,702 1,842,998 0.0% Nordea Bank AB 1,644,450 21,150,510 0.2% # Nordnet AB Class B 174,643 616,317 0.0% OEM International AB Class B 9,558 124,152 0.0% # Oriflame Cosmetics SA 19,657 343,608 0.0% * PA Resources AB 10,516 4,057 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- SWEDEN -- (Continued) Peab AB 408,961 $ 2,776,464 0.0% #* Pricer AB Class B 171,573 128,056 0.0% Proact IT Group AB 5,666 62,321 0.0% Proffice AB Class B 116,223 293,820 0.0% # Ratos AB Class B 266,119 1,786,079 0.0% #* RaySearch Laboratories AB 20,642 115,978 0.0% * Rezidor Hotel Group AB 143,615 627,086 0.0% #* rnb Retail and Brands AB 18,260 26,333 0.0% Saab AB Class B 151,490 4,091,312 0.0% Sagax AB Class B 3,620 17,998 0.0% Sandvik AB 713,781 7,840,961 0.1% #* SAS AB 433,136 666,615 0.0% Securitas AB Class B 609,924 6,749,180 0.1% Semcon AB 26,134 191,390 0.0% Skandinaviska Enskilda Banken AB Class A 669,276 8,596,358 0.1% # Skandinaviska Enskilda Banken AB Class C 9,106 112,029 0.0% Skanska AB Class B 463,205 9,442,182 0.1% SKF AB Class A 5,419 108,907 0.0% SKF AB Class B 256,693 5,148,599 0.1% SkiStar AB 32,266 369,475 0.0% #* SSAB AB Class A(B17H0S8) 249,939 1,813,672 0.0% * SSAB AB Class A(BPRBWK4) 91,581 651,310 0.0% * SSAB AB Class B(B17H3F6) 205,847 1,318,344 0.0% * SSAB AB Class B(BPRBWM6) 233,790 1,512,398 0.0% Svenska Cellulosa AB Class A 18,540 416,529 0.0% Svenska Cellulosa AB Class B 518,180 11,610,590 0.1% Svenska Handelsbanken AB Class A 271,112 12,960,560 0.1% Svenska Handelsbanken AB Class B 7,412 340,477 0.0% Sweco AB Class B 24,249 337,780 0.0% Swedbank AB Class A 531,591 14,087,519 0.1% Swedish Match AB 188,735 6,137,101 0.1% * Swedish Orphan Biovitrum AB 220,022 2,516,459 0.0% Systemair AB 3,166 41,931 0.0% Tele2 AB Class B 916,988 11,650,879 0.1% Telefonaktiebolaget LM Ericsson Class A 50,430 561,715 0.0% Telefonaktiebolaget LM Ericsson Class B 887,806 10,490,667 0.1% # Telefonaktiebolaget LM Ericsson Sponsored ADR 544,136 6,442,570 0.1% TeliaSonera AB 1,788,029 12,381,684 0.1% # TradeDoubler AB 63,660 66,800 0.0% * Transcom WorldWide SA 50,915 7,575 0.0% Transmode AB 1,153 8,567 0.0% Trelleborg AB Class B 456,570 7,816,634 0.1% Unibet Group P.L.C. 60,036 3,460,466 0.0% Vitrolife AB 23,212 469,981 0.0% # Volvo AB Class A 189,741 2,211,608 0.0% Volvo AB Class B 894,763 10,325,956 0.1% Volvo AB Sponsored ADR 70,300 809,153 0.0% Wallenstam AB Class B 150,751 2,274,456 0.0% Wihlborgs Fastigheter AB 83,778 1,469,325 0.0% -------------------- ------------------ TOTAL SWEDEN 381,446,780 3.1% -------------------- ------------------ INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- SWITZERLAND -- (6.2%) ABB, Ltd. 1,199,336 $ 26,311,835 0.2% # ABB, Ltd. Sponsored ADR 444,892 9,760,930 0.1% Actelion, Ltd. 100,770 12,001,217 0.1% Adecco SA 163,020 11,049,757 0.1% * Advanced Digital Broadcast Holdings SA 3,871 46,579 0.0% AFG Arbonia-Forster Holding AG 34,631 845,319 0.0% Allreal Holding AG 24,655 3,263,531 0.0% Alpiq Holding AG 3,183 320,239 0.0% ALSO Holding AG 635 34,651 0.0% ams AG 100,576 3,606,553 0.0% APG SGA SA 1,409 410,258 0.0% Aryzta AG 148,609 12,676,577 0.1% Ascom Holding AG 107,489 1,577,765 0.0% # Autoneum Holding AG 12,067 2,010,790 0.0% # Bachem Holding AG Class B 6,084 309,435 0.0% Baloise Holding AG 83,455 10,505,714 0.1% Bank Coop AG 6,201 273,819 0.0% Banque Cantonale de Geneve 1,136 250,908 0.0% Banque Cantonale Vaudoise 4,729 2,532,764 0.0% Barry Callebaut AG 2,834 2,974,484 0.0% # Basler Kantonalbank 6,579 438,762 0.0% Belimo Holding AG 383 950,579 0.0% Bell AG 110 253,947 0.0% # Bellevue Group AG 11,759 149,556 0.0% # Berner Kantonalbank AG 6,254 1,168,818 0.0% BKW AG 12,459 374,866 0.0% Bobst Group SA 20,281 882,726 0.0% Bossard Holding AG Class A 14,890 1,509,221 0.0% Bucher Industries AG 17,507 4,447,003 0.1% Burckhardt Compression Holding AG 3,428 1,468,693 0.0% Burkhalter Holding AG 4,865 412,179 0.0% Carlo Gavazzi Holding AG 221 52,359 0.0% Cham Paper Holding AG 5 1,252 0.0% * Charles Voegele Holding AG 23,145 352,626 0.0% Chocoladefabriken Lindt & Sprungli AG 33 1,976,641 0.0% Cie Financiere Richemont SA 218,629 18,433,438 0.2% Cie Financiere Tradition SA 1,907 85,556 0.0% Clariant AG 565,553 9,864,959 0.1% * Coca-Cola HBC AG ADR 143,627 3,119,866 0.0% Coltene Holding AG 8,254 513,113 0.0% Conzzeta AG 195 688,061 0.0% Credit Suisse Group AG 1,122,531 29,908,488 0.3% # Credit Suisse Group AG Sponsored ADR 422,643 11,259,210 0.1% Daetwyler Holding AG 11,185 1,418,075 0.0% # DKSH Holding AG 28,181 2,083,688 0.0% Dottikon Es Holding AG 89 19,573 0.0% * Dufry AG 49,965 7,203,461 0.1% Edmond de Rothschild Suisse SA 10 159,046 0.0% EFG International AG 102,665 1,067,435 0.0% Emmi AG 5,009 1,770,466 0.0% EMS-Chemie Holding AG 9,244 3,329,047 0.0% Energiedienst Holding AG 8,178 267,806 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- SWITZERLAND -- (Continued) #* Evolva Holding SA 28,548 $ 36,140 0.0% Flughafen Zuerich AG 9,813 6,253,017 0.1% Forbo Holding AG 2,817 2,926,089 0.0% # Galenica AG 7,080 6,058,569 0.1% GAM Holding AG 407,912 6,966,267 0.1% Gategroup Holding AG 62,165 1,400,790 0.0% Geberit AG 27,547 9,402,759 0.1% Georg Fischer AG 11,520 6,653,658 0.1% Givaudan SA 5,722 9,555,581 0.1% Gurit Holding AG 1,156 484,166 0.0% Helvetia Holding AG 12,995 6,179,325 0.1% Holcim, Ltd. 183,839 13,047,885 0.1% Huber & Suhner AG 18,224 898,960 0.0% Implenia AG 27,425 1,478,628 0.0% # Inficon Holding AG 2,935 915,693 0.0% Interroll Holding AG 855 486,160 0.0% Intershop Holdings AG 2,256 832,609 0.0% Julius Baer Group, Ltd. 363,551 15,937,249 0.1% Kaba Holding AG Class B 6,842 3,262,070 0.0% Kardex AG 16,264 735,752 0.0% Komax Holding AG 10,429 1,536,674 0.0% Kudelski SA 122,532 1,562,735 0.0% Kuehne + Nagel International AG 25,495 3,322,765 0.0% Kuoni Reisen Holding AG 8,238 2,245,859 0.0% # LEM Holding SA 2,623 1,968,423 0.0% Liechtensteinische Landesbank AG 3,854 154,675 0.0% * LifeWatch AG 16,366 156,240 0.0% Logitech International SA 204,562 2,896,141 0.0% Lonza Group AG 97,496 10,742,745 0.1% Luzerner Kantonalbank AG 5,097 1,843,591 0.0% MCH Group AG 56 3,726 0.0% Metall Zug AG 220 542,462 0.0% #* Meyer Burger Technology AG 148,209 1,250,235 0.0% Micronas Semiconductor Holding AG 77,206 516,487 0.0% Mikron Holding AG 48,480 328,621 0.0% * Mobilezone Holding AG 52,606 560,151 0.0% Mobimo Holding AG 12,897 2,542,112 0.0% * Myriad Group AG 16,690 74,614 0.0% Nestle SA 2,189,299 160,550,262 1.3% Nobel Biocare Holding AG 93,363 1,653,548 0.0% Novartis AG 215,739 20,021,195 0.2% Novartis AG ADR 818,651 75,880,761 0.6% OC Oerlikon Corp. AG 432,810 5,476,360 0.1% * Orascom Development Holding AG 12,310 214,883 0.0% #* Orell Fuessli Holding AG 435 42,089 0.0% Orior AG 6,012 325,040 0.0% Panalpina Welttransport Holding AG 12,418 1,608,654 0.0% Partners Group Holding AG 17,364 4,620,757 0.1% Phoenix Mecano AG 1,146 518,025 0.0% PSP Swiss Property AG 24,449 2,098,376 0.0% Rieter Holding AG 9,381 1,732,407 0.0% Roche Holding AG(7108918) 4,763 1,356,675 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- SWITZERLAND -- (Continued) Roche Holding AG(7110388) 142,703 $ 42,111,851 0.4% Romande Energie Holding SA 367 407,794 0.0% Schaffner Holding AG 509 147,340 0.0% Schindler Holding AG 7,719 1,045,020 0.0% * Schmolz + Bickenbach AG 1,287,515 1,554,755 0.0% Schweiter Technologies AG 1,912 1,378,096 0.0% SGS SA 2,585 5,683,178 0.1% Siegfried Holding AG 9,946 1,528,755 0.0% Sika AG 3,193 11,413,769 0.1% Sonova Holding AG 20,154 3,142,631 0.0% St Galler Kantonalbank AG 4,490 1,623,933 0.0% Straumann Holding AG 6,393 1,573,989 0.0% Sulzer AG 37,714 4,298,603 0.0% Swatch Group AG (The)(7184725) 22,619 10,729,592 0.1% Swatch Group AG (The)(7184736) 34,403 2,910,584 0.0% Swiss Life Holding AG 52,955 12,150,033 0.1% Swiss Re AG 365,604 29,563,037 0.3% Swisscom AG 10,473 6,174,053 0.1% Swisscom AG Sponsored ADR 5,100 300,849 0.0% * Swisslog Holding AG 492,744 686,937 0.0% Swissquote Group Holding SA 21,296 664,211 0.0% Syngenta AG 34,565 10,689,479 0.1% Syngenta AG ADR 158,244 9,811,128 0.1% Tamedia AG 2,226 292,233 0.0% Tecan Group AG 8,905 940,539 0.0% Temenos Group AG 111,317 3,886,452 0.0% #* Tornos Holding AG 12,446 74,305 0.0% U-Blox AG 13,329 1,801,871 0.0% UBS AG(B18YFJ4) 1,186,463 20,630,377 0.2% UBS AG(H89231338) 285,193 4,956,654 0.1% * Valartis Group AG 9,003 153,239 0.0% Valiant Holding AG 20,556 1,797,934 0.0% Valora Holding AG 6,811 1,410,755 0.0% Vaudoise Assurances Holding SA Class B 1,429 624,958 0.0% Vetropack Holding AG 374 638,554 0.0% #* Von Roll Holding AG 80,625 116,468 0.0% # Vontobel Holding AG 50,840 1,847,857 0.0% VP Bank AG 4,933 409,068 0.0% Walliser Kantonalbank 173 130,594 0.0% * Walter Meier AG 3,375 135,132 0.0% Ypsomed Holding AG 3,145 282,683 0.0% Zehnder Group AG 14,698 577,846 0.0% * Zueblin Immobilien Holding AG 38,248 66,798 0.0% Zug Estates Holding AG 189 229,124 0.0% Zuger Kantonalbank AG 134 619,588 0.0% Zurich Insurance Group AG 107,594 32,561,006 0.3% -------------------- ------------------ TOTAL SWITZERLAND 842,025,948 6.9% -------------------- ------------------ UNITED KINGDOM -- (17.1%) 4imprint Group P.L.C. 1,908 23,985 0.0% 888 Holdings P.L.C. 463,807 950,823 0.0% A.G. BARR P.L.C. 90,278 852,908 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- UNITED KINGDOM -- (Continued) Aberdeen Asset Management P.L.C. 1,431,894 $ 9,958,278 0.1% Acal P.L.C. 26,297 88,482 0.0% Admiral Group P.L.C. 222,765 4,766,537 0.0% * Afren P.L.C. 2,574,854 3,174,683 0.0% African Barrick Gold P.L.C. 279,609 921,131 0.0% * Aga Rangemaster Group P.L.C. 77,421 181,054 0.0% Aggreko P.L.C. 493,935 12,051,001 0.1% Air Partner P.L.C. 2,004 8,377 0.0% Alent P.L.C. 542,949 2,915,259 0.0% * Alizyme P.L.C. 42,517 -- 0.0% Alumasc Group 8,807 17,890 0.0% AMEC P.L.C. 573,864 9,568,686 0.1% Amlin P.L.C. 1,144,801 8,355,362 0.1% Anglo American P.L.C. 1,402,287 29,607,257 0.2% Anglo Pacific Group P.L.C. 64,571 136,793 0.0% Anglo-Eastern Plantations P.L.C. 8,036 82,727 0.0% Anite P.L.C. 341,609 477,320 0.0% Antofagasta P.L.C. 672,261 7,570,868 0.1% ARM Holdings P.L.C. 12,223 173,046 0.0% ARM Holdings P.L.C. Sponsored ADR 126,504 5,402,986 0.1% # Ashmore Group P.L.C. 592,560 3,025,852 0.0% Ashtead Group P.L.C. 744,286 12,469,940 0.1% Associated British Foods P.L.C. 254,917 11,249,944 0.1% AstraZeneca P.L.C. 5,655 413,088 0.0% AstraZeneca P.L.C. Sponsored ADR 466,782 34,047,079 0.3% Aveva Group P.L.C. 31,541 773,929 0.0% Aviva P.L.C. 3,728,348 31,184,842 0.3% Aviva P.L.C. Sponsored ADR 26,306 437,995 0.0% Avon Rubber P.L.C. 10,350 110,989 0.0% Babcock International Group P.L.C. 584,010 10,249,980 0.1% BAE Systems P.L.C. 2,352,806 17,326,667 0.1% Balfour Beatty P.L.C. 1,315,953 3,251,141 0.0% Bank of Georgia Holdings P.L.C. 39,541 1,621,680 0.0% Barclays P.L.C. 238,763 918,263 0.0% # Barclays P.L.C. Sponsored ADR 2,072,823 31,921,474 0.3% Barratt Developments P.L.C. 2,148,063 14,440,089 0.1% BBA Aviation P.L.C. 1,004,132 5,684,156 0.1% Beazley P.L.C. 1,234,277 5,184,227 0.1% Bellway P.L.C. 274,989 7,713,748 0.1% Berendsen P.L.C. 531,703 8,609,904 0.1% Berkeley Group Holdings P.L.C. 210,114 7,684,139 0.1% Betfair Group P.L.C. 36,348 704,351 0.0% BG Group P.L.C. 2,660,297 44,336,595 0.4% BG Group P.L.C. Sponsored ADR 136,000 2,288,880 0.0% BHP Billiton P.L.C. 399,930 10,332,832 0.1% # BHP Billiton P.L.C. ADR 545,653 28,395,782 0.2% Bloomsbury Publishing P.L.C. 58,768 150,866 0.0% Bodycote P.L.C. 568,152 5,686,459 0.1% Booker Group P.L.C. 1,700,661 3,821,965 0.0% Boot Henry P.L.C. 54,535 168,365 0.0% Bovis Homes Group P.L.C. 252,111 3,404,826 0.0% BP P.L.C. 84,879 610,696 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- UNITED KINGDOM -- (Continued) BP P.L.C. Sponsored ADR 2,024,872 $ 88,000,934 0.7% Braemar Shipping Services P.L.C. 13,650 102,597 0.0% Brammer P.L.C. 43,837 227,752 0.0% Brewin Dolphin Holdings P.L.C. 507,289 2,310,244 0.0% British American Tobacco P.L.C. 154,241 8,742,010 0.1% # British American Tobacco P.L.C. Sponsored ADR 113,830 12,926,535 0.1% British Polythene Industries P.L.C. 30,441 315,336 0.0% British Sky Broadcasting Group P.L.C. 412,206 5,841,888 0.1% British Sky Broadcasting Group P.L.C. Sponsored ADR 24,700 1,404,689 0.0% Britvic P.L.C. 475,908 5,188,829 0.1% BT Group P.L.C. 468,605 2,762,581 0.0% BT Group P.L.C. Sponsored ADR 140,608 8,295,872 0.1% * BTG P.L.C. 399,154 4,824,879 0.0% Bunzl P.L.C. 268,769 7,298,539 0.1% Burberry Group P.L.C. 337,426 8,291,757 0.1% # Bwin.Party Digital Entertainment P.L.C. 1,169,565 1,681,263 0.0% Cable & Wireless Communications P.L.C. 5,010,733 3,872,147 0.0% * Cairn Energy P.L.C. 148,111 346,372 0.0% Cape P.L.C. 253,462 1,096,481 0.0% Capita P.L.C. 318,862 5,606,205 0.1% Capital & Counties Properties P.L.C. 218,370 1,194,610 0.0% Capital & Regional P.L.C. 398,343 306,958 0.0% Carclo P.L.C. 21,100 29,977 0.0% Carillion P.L.C. 978,458 5,212,853 0.1% Carnival P.L.C. 44,660 1,780,859 0.0% Carnival P.L.C. ADR 141,843 5,651,025 0.1% Carr's Milling Industries P.L.C. 2,672 69,270 0.0% Castings P.L.C. 59,187 415,642 0.0% Catlin Group, Ltd. 789,102 6,779,006 0.1% Centamin P.L.C. 2,317,107 1,897,389 0.0% # Centaur Media P.L.C. 79,311 73,553 0.0% Centrica P.L.C. 4,166,559 20,207,695 0.2% Charles Stanley Group P.L.C. 6,583 32,604 0.0% Charles Taylor P.L.C. 11,746 46,292 0.0% Chemring Group P.L.C. 423,257 1,651,880 0.0% Chesnara P.L.C. 199,272 1,097,590 0.0% Chime Communications P.L.C. 37,972 168,511 0.0% Cineworld Group P.L.C. 352,612 1,890,285 0.0% Clarkson P.L.C. 3,333 119,934 0.0% Close Brothers Group P.L.C. 310,419 7,284,630 0.1% Cobham P.L.C. 2,021,053 9,427,569 0.1% Coca-Cola HBC AG 59,035 1,287,819 0.0% * Colt Group SA 753,216 1,659,510 0.0% Communisis P.L.C. 169,076 149,117 0.0% Compass Group P.L.C. 805,628 13,003,574 0.1% Computacenter P.L.C. 185,991 1,839,407 0.0% Connect Group P.L.C. 235,609 664,211 0.0% Consort Medical P.L.C. 45,895 527,691 0.0% Costain Group P.L.C. 32,740 152,674 0.0% Cranswick P.L.C. 95,667 2,172,066 0.0% Creston P.L.C. 18,283 33,798 0.0% Croda International P.L.C. 248,899 9,151,101 0.1% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- UNITED KINGDOM -- (Continued) CSR P.L.C. 304,746 $ 4,095,552 0.0% Daily Mail & General Trust P.L.C. 400,794 5,071,439 0.0% Dairy Crest Group P.L.C. 336,095 2,245,142 0.0% Darty P.L.C. 303,760 369,206 0.0% DCC P.L.C. 165,106 9,252,666 0.1% De La Rue P.L.C. 93,623 783,969 0.0% Debenhams P.L.C. 2,516,517 2,612,799 0.0% Dechra Pharmaceuticals P.L.C. 162,666 1,978,002 0.0% Development Securities P.L.C. 224,418 760,247 0.0% Devro P.L.C. 401,086 1,748,793 0.0% Diageo P.L.C. 42,081 1,241,069 0.0% Diageo P.L.C. Sponsored ADR 106,229 12,531,835 0.1% Dialight P.L.C. 6,014 82,605 0.0% Dignity P.L.C. 72,792 1,829,993 0.0% Diploma P.L.C. 257,829 2,869,229 0.0% Direct Line Insurance Group P.L.C. 1,240,517 5,487,623 0.1% Dixons Carphone P.L.C. 1,272,947 8,082,928 0.1% Domino Printing Sciences P.L.C. 197,785 1,912,904 0.0% Domino's Pizza Group P.L.C. 100,306 1,021,782 0.0% Drax Group P.L.C. 806,170 7,670,702 0.1% DS Smith P.L.C. 2,690,462 11,427,073 0.1% Dunelm Group P.L.C. 43,837 591,294 0.0% Dyson Group P.L.C 3,999 168 0.0% E2V Technologies P.L.C. 78,426 201,200 0.0% easyJet P.L.C. 256,886 6,172,711 0.1% Electrocomponents P.L.C. 1,395,936 5,133,095 0.1% Elementis P.L.C. 1,466,422 6,210,514 0.1% * EnQuest P.L.C. 1,601,147 1,780,698 0.0% * Enterprise Inns P.L.C. 1,140,222 2,336,005 0.0% Essentra P.L.C. 488,207 5,375,246 0.1% Euromoney Institutional Investor P.L.C. 44,534 750,269 0.0% Evraz P.L.C. 653,902 1,355,537 0.0% Experian P.L.C. 666,936 10,028,145 0.1% Fenner P.L.C. 430,455 2,130,426 0.0% Ferrexpo P.L.C. 424,323 573,011 0.0% Fidessa Group P.L.C. 44,765 1,676,857 0.0% * Findel P.L.C. 63,044 266,289 0.0% * Firstgroup P.L.C. 2,498,265 4,502,166 0.0% * Fortune Oil P.L.C. 691,662 88,298 0.0% # Fresnillo P.L.C. 209,943 2,346,175 0.0% Friends Life Group, Ltd. 2,756,911 14,297,403 0.1% Fuller Smith & Turner 42,043 629,598 0.0% Future P.L.C. 361,156 45,785 0.0% G4S P.L.C. 2,988,060 12,230,866 0.1% Galliford Try P.L.C. 175,625 3,437,249 0.0% Games Workshop Group P.L.C. 7,668 67,291 0.0% * Gem Diamonds, Ltd. 259,606 645,910 0.0% Genus P.L.C. 96,322 1,897,490 0.0% GKN P.L.C. 2,968,039 15,166,466 0.1% GlaxoSmithKline P.L.C. 107,443 2,429,712 0.0% # GlaxoSmithKline P.L.C. Sponsored ADR 498,072 22,657,295 0.2% Glencore P.L.C. 4,179,068 21,441,274 0.2% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- UNITED KINGDOM -- (Continued) Go-Ahead Group P.L.C. 74,856 $ 2,947,286 0.0% Goodwin P.L.C. 40 2,142 0.0% Grafton Group P.L.C. 385,217 3,910,475 0.0% Greencore Group P.L.C. 1,388,597 5,826,562 0.1% Greene King P.L.C. 536,414 6,896,379 0.1% Greggs P.L.C. 316,310 3,068,140 0.0% * Guinness Peat Group P.L.C. 52,296 21,244 0.0% Halfords Group P.L.C. 676,067 5,366,803 0.1% Halma P.L.C. 835,298 8,334,540 0.1% Hargreaves Lansdown P.L.C. 223,485 3,561,066 0.0% Harvey Nash Group P.L.C. 28,747 40,524 0.0% Hays P.L.C. 2,555,915 5,047,936 0.0% Headlam Group P.L.C. 103,583 648,165 0.0% Helical Bar P.L.C. 209,961 1,177,048 0.0% Henderson Group P.L.C. 2,319,519 7,811,405 0.1% Hikma Pharmaceuticals P.L.C. 295,143 8,951,829 0.1% Hill & Smith Holdings P.L.C. 164,961 1,498,769 0.0% Hilton Food Group P.L.C. 1,517 9,094 0.0% Hiscox, Ltd. 581,634 6,343,742 0.1% #* Hochschild Mining P.L.C. 269,606 426,267 0.0% Hogg Robinson Group P.L.C. 124,869 85,586 0.0% Home Retail Group P.L.C. 1,850,889 5,431,508 0.1% Homeserve P.L.C. 604,732 3,341,250 0.0% * Hornby P.L.C. 20,303 24,619 0.0% Howden Joinery Group P.L.C. 1,323,924 7,263,884 0.1% HSBC Holdings P.L.C. Sponsored ADR 1,620,604 82,683,216 0.7% Hunting P.L.C. 262,510 3,092,123 0.0% Huntsworth P.L.C. 265,818 189,056 0.0% ICAP P.L.C. 1,321,214 8,870,247 0.1% IG Group Holdings P.L.C. 987,679 9,518,714 0.1% #* Imagination Technologies Group P.L.C. 369,071 1,128,935 0.0% IMI P.L.C. 261,862 5,127,956 0.1% Imperial Tobacco Group P.L.C. 342,695 14,887,296 0.1% Imperial Tobacco Group P.L.C. ADR 12,922 1,125,765 0.0% Inchcape P.L.C. 882,195 9,827,925 0.1% Informa P.L.C. 1,649,913 12,719,765 0.1% Inmarsat P.L.C. 1,024,216 11,245,774 0.1% Innovation Group P.L.C. 1,526,823 660,805 0.0% InterContinental Hotels Group P.L.C. 149,262 5,669,731 0.1% # InterContinental Hotels Group P.L.C. ADR 84,800 3,223,248 0.0% * International Consolidated Airlines Group SA(B5282K0) 282,178 1,845,553 0.0% * International Consolidated Airlines Group SA(B5M6XQ7) 1,489,683 9,772,293 0.1% * International Consolidated Airlines Group SA Sponsored ADR 12,200 398,696 0.0% * International Ferro Metals, Ltd. 20,587 1,895 0.0% Interserve P.L.C. 341,307 3,465,194 0.0% Intertek Group P.L.C. 155,671 6,785,103 0.1% Investec P.L.C. 986,296 9,043,812 0.1% * IP Group P.L.C. 161,888 538,153 0.0% ITE Group P.L.C. 320,652 874,891 0.0% ITV P.L.C. 3,035,252 9,860,572 0.1% J D Wetherspoon P.L.C. 233,671 3,159,241 0.0% # J Sainsbury P.L.C. 2,654,554 10,457,775 0.1% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- UNITED KINGDOM -- (Continued) James Fisher & Sons P.L.C. 79,341 $ 1,654,128 0.0% Jardine Lloyd Thompson Group P.L.C. 137,710 2,099,688 0.0% JD Sports Fashion P.L.C. 78,220 578,465 0.0% #* JKX Oil & Gas P.L.C. 132,334 80,661 0.0% John Menzies P.L.C. 54,405 431,607 0.0% John Wood Group P.L.C. 686,686 7,285,812 0.1% Johnson Matthey P.L.C. 277,736 13,259,571 0.1% #* Johnston Press P.L.C. 1,456,828 80,607 0.0% Jupiter Fund Management P.L.C. 878,397 5,037,411 0.0% * Kazakhmys P.L.C. 531,854 1,962,175 0.0% Kcom Group P.L.C. 1,007,379 1,499,881 0.0% Keller Group P.L.C. 155,840 2,082,277 0.0% Kier Group P.L.C. 76,300 1,819,644 0.0% Kingfisher P.L.C. 1,870,813 9,063,087 0.1% Ladbrokes P.L.C. 1,637,466 3,101,461 0.0% Laird P.L.C. 594,911 3,002,811 0.0% * Lamprell P.L.C. 650,125 1,525,542 0.0% Lancashire Holdings, Ltd. 384,921 4,125,894 0.0% Latchways P.L.C. 2,464 29,033 0.0% Laura Ashley Holdings P.L.C. 224,765 99,585 0.0% Lavendon Group P.L.C. 175,622 515,441 0.0% Legal & General Group P.L.C. 4,993,978 18,509,116 0.2% * Lloyds Banking Group P.L.C. 48,291,922 59,635,155 0.5% #* Lloyds Banking Group P.L.C. ADR 1,284,577 6,320,119 0.1% London Stock Exchange Group P.L.C. 387,284 12,506,731 0.1% #* Lonmin P.L.C. 1,034,088 2,898,635 0.0% Lookers P.L.C. 384,834 855,888 0.0% Low & Bonar P.L.C. 135,064 119,826 0.0% LSL Property Services P.L.C. 14,831 74,291 0.0% Man Group P.L.C. 3,518,996 6,977,370 0.1% Management Consulting Group P.L.C. 265,588 74,818 0.0% Marks & Spencer Group P.L.C. 1,181,027 7,690,633 0.1% Marshalls P.L.C. 111,901 357,097 0.0% Marston's P.L.C. 1,196,287 2,889,279 0.0% McBride P.L.C. 279,529 355,523 0.0% Mears Group P.L.C. 103,883 733,966 0.0% #* Mecom Group P.L.C. 191,097 397,301 0.0% Meggitt P.L.C. 1,785,045 12,894,105 0.1% Melrose Industries P.L.C. 1,700,677 6,989,922 0.1% Michael Page International P.L.C. 461,886 2,879,892 0.0% Micro Focus International P.L.C. 186,233 2,966,928 0.0% Millennium & Copthorne Hotels P.L.C. 363,557 3,316,515 0.0% * Mitchells & Butlers P.L.C. 476,077 2,897,774 0.0% Mitie Group P.L.C. 1,430,942 6,903,935 0.1% MJ Gleeson Group P.L.C. 19,478 109,131 0.0% Mondi P.L.C. 607,884 10,273,524 0.1% Moneysupermarket.com Group P.L.C. 528,609 1,698,143 0.0% Morgan Advanced Materials P.L.C. 772,031 3,490,353 0.0% Morgan Sindall Group P.L.C. 55,579 611,778 0.0% #* Mothercare P.L.C. 256,910 719,213 0.0% N Brown Group P.L.C. 277,163 1,491,985 0.0% National Express Group P.L.C. 1,045,922 4,176,063 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- UNITED KINGDOM -- (Continued) National Grid P.L.C. 14,459 $ 214,571 0.0% # National Grid P.L.C. Sponsored ADR 167,138 12,433,394 0.1% NCC Group P.L.C. 67,835 214,033 0.0% #* New World Resources P.L.C. Class A 46,188 983 0.0% Next P.L.C. 74,350 7,675,648 0.1% Northgate P.L.C. 322,012 2,526,030 0.0% Novae Group P.L.C. 81,704 724,370 0.0% * Ocado Group P.L.C. 9,687 38,587 0.0% Old Mutual P.L.C. 4,701,167 14,599,828 0.1% * Optos P.L.C. 8,716 32,766 0.0% * Oxford Biomedica P.L.C. 164,084 10,551 0.0% Oxford Instruments P.L.C. 42,256 732,198 0.0% Pace P.L.C. 1,054,795 5,864,064 0.1% PayPoint P.L.C. 31,305 432,142 0.0% Pearson P.L.C. 31,918 598,288 0.0% # Pearson P.L.C. Sponsored ADR 591,029 11,081,794 0.1% Pendragon P.L.C. 525,892 265,809 0.0% Pennon Group P.L.C. 648,008 8,647,224 0.1% Persimmon P.L.C. 552,590 12,977,675 0.1% * Petra Diamonds, Ltd. 358,194 950,294 0.0% Petrofac, Ltd. 397,950 6,742,611 0.1% #* Petropavlovsk P.L.C. 304,494 105,198 0.0% Phoenix Group Holdings 250,573 3,025,516 0.0% Phoenix IT Group P.L.C. 33,310 63,855 0.0% Photo-Me International P.L.C. 817,692 1,726,811 0.0% Playtech P.L.C. 131,557 1,490,081 0.0% Premier Farnell P.L.C. 549,580 1,669,187 0.0% * Premier Foods P.L.C. 1,363,466 719,706 0.0% Premier Oil P.L.C. 1,095,763 4,524,719 0.0% # Prudential P.L.C. ADR 599,353 27,768,024 0.2% * Puma Brandenburg, Ltd. 9,000 -- 0.0% * Puma Brandenburg, Ltd. A Shares 9,000 -- 0.0% * Punch Taverns P.L.C. 44,189 106,644 0.0% PV Crystalox Solar P.L.C. 60,126 14,788 0.0% # PZ Cussons P.L.C. 353,475 2,096,566 0.0% QinetiQ Group P.L.C. 1,867,938 6,054,172 0.1% * Quintain Estates & Development P.L.C. 1,148,575 1,509,079 0.0% Randgold Resources, Ltd. 57,123 3,343,314 0.0% Rank Group P.L.C. 20,290 53,624 0.0% * Raven Russia, Ltd. 105,831 104,854 0.0% REA Holdings P.L.C. 11,361 72,803 0.0% Reckitt Benckiser Group P.L.C. 123,862 10,432,087 0.1% Redrow P.L.C. 551,498 2,553,176 0.0% Reed Elsevier P.L.C. 353,780 5,822,245 0.1% Reed Elsevier P.L.C. Sponsored ADR 45,139 2,967,437 0.0% # Regus P.L.C. 1,700,637 5,387,687 0.1% Renishaw P.L.C. 51,437 1,463,258 0.0% Rentokil Initial P.L.C. 2,242,376 4,422,264 0.0% Restaurant Group P.L.C. (The) 338,469 3,667,133 0.0% Rexam P.L.C. 1,619,250 12,341,715 0.1% Ricardo P.L.C. 46,071 486,691 0.0% Rightmove P.L.C. 127,496 4,312,368 0.0% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- UNITED KINGDOM -- (Continued) Rio Tinto P.L.C. 113,242 $ 5,388,218 0.1% # Rio Tinto P.L.C. Sponsored ADR 874,782 41,963,293 0.3% RM P.L.C. 27,965 64,908 0.0% Robert Walters P.L.C. 96,470 446,541 0.0% Rolls-Royce Holdings P.L.C. 938,225 12,707,764 0.1% Rotork P.L.C. 125,825 5,157,744 0.1% #* Royal Bank of Scotland Group P.L.C. Sponsored ADR 526,538 6,544,867 0.1% # Royal Dutch Shell P.L.C. ADR(780259206) 437,648 31,418,750 0.3% # Royal Dutch Shell P.L.C. ADR(780259107) 1,398,074 104,394,186 0.9% Royal Dutch Shell P.L.C. Class A 12,273 438,413 0.0% Royal Dutch Shell P.L.C. Class B 64,523 2,383,830 0.0% RPC Group P.L.C. 440,152 3,844,379 0.0% RPS Group P.L.C. 384,849 1,444,922 0.0% * RSA Insurance Group P.L.C. 1,689,452 13,072,392 0.1% S&U P.L.C. 2,442 75,687 0.0% SABMiller P.L.C. 162,496 9,191,254 0.1% Sage Group P.L.C. (The) 1,478,332 8,951,969 0.1% * Salamander Energy P.L.C. 370,000 627,948 0.0% Savills P.L.C. 261,170 2,689,241 0.0% Schroders P.L.C.(0239581) 55,850 1,722,813 0.0% Schroders P.L.C.(0240549) 105,086 4,063,933 0.0% * SDL P.L.C. 141,074 888,981 0.0% Senior P.L.C. 1,063,211 4,564,036 0.0% Sepura P.L.C. 12,081 26,465 0.0% Serco Group P.L.C. 349,101 1,665,908 0.0% * Severfield P.L.C. 407,213 391,971 0.0% Severn Trent P.L.C. 263,677 8,428,044 0.1% Shanks Group P.L.C. 1,260,911 1,963,924 0.0% Shire P.L.C. 147,265 9,881,029 0.1% Shire P.L.C. ADR 28,741 5,742,452 0.1% SIG P.L.C. 1,523,802 3,572,647 0.0% * Skyepharma P.L.C. 5,556 31,327 0.0% * Skyepharma P.L.C. Sponsored ADR 80 449 0.0% Smith & Nephew P.L.C. 234,264 3,976,706 0.0% Smith & Nephew P.L.C. Sponsored ADR 114,828 3,909,876 0.0% Smiths Group P.L.C. 744,881 13,911,926 0.1% Soco International P.L.C. 530,240 2,792,611 0.0% Spectris P.L.C. 356,397 10,294,118 0.1% Speedy Hire P.L.C. 833,007 829,394 0.0% Spirax-Sarco Engineering P.L.C. 128,445 5,869,112 0.1% Spirent Communications P.L.C. 1,958,383 2,341,847 0.0% Spirent Communications P.L.C. ADR 25,100 122,990 0.0% Spirit Pub Co. P.L.C. 1,395,484 2,381,083 0.0% * Sportech P.L.C. 87,812 82,125 0.0% * Sports Direct International P.L.C. 191,339 1,976,234 0.0% SSE P.L.C. 477,058 12,227,465 0.1% St Ives P.L.C. 71,194 219,581 0.0% St James's Place P.L.C. 946,364 11,315,957 0.1% ST Modwen Properties P.L.C. 401,744 2,328,641 0.0% Stagecoach Group P.L.C. 821,224 5,090,264 0.0% Standard Chartered P.L.C. 1,020,615 15,362,966 0.1% Standard Life P.L.C. 1,997,988 12,616,451 0.1% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- UNITED KINGDOM -- (Continued) Sthree P.L.C. 82,072 $ 406,692 0.0% Stobart Group, Ltd. 97,983 155,638 0.0% STV Group P.L.C. 56,141 331,697 0.0% * SuperGroup P.L.C. 52,452 697,542 0.0% Synergy Health P.L.C. 132,043 3,949,554 0.0% Synthomer P.L.C. 483,319 1,571,627 0.0% T Clarke P.L.C. 26,802 18,058 0.0% TalkTalk Telecom Group P.L.C. 1,045,141 5,030,228 0.0% Tarsus Group P.L.C. 4,986 16,289 0.0% Tate & Lyle P.L.C. 814,472 7,882,535 0.1% Taylor Wimpey P.L.C. 5,745,876 10,914,643 0.1% Ted Baker P.L.C. 24,853 776,050 0.0% # Telecity Group P.L.C. 338,799 4,183,800 0.0% Telecom Plus P.L.C. 38,726 875,174 0.0% Tesco P.L.C. 5,068,750 14,070,787 0.1% * Thomas Cook Group P.L.C. 4,064,041 8,097,065 0.1% #* Thorntons P.L.C. 61,885 108,418 0.0% Topps Tiles P.L.C. 96,161 156,287 0.0% Travis Perkins P.L.C. 471,340 12,488,748 0.1% Tribal Group P.L.C. 44,362 111,592 0.0% Trifast P.L.C. 41,949 66,534 0.0% * Trinity Mirror P.L.C. 636,017 1,668,860 0.0% TT electronics P.L.C. 388,213 1,040,928 0.0% TUI Travel P.L.C. 805,388 5,146,526 0.1% Tullett Prebon P.L.C. 452,808 2,059,261 0.0% Tullow Oil P.L.C. 584,052 4,557,932 0.0% UBM P.L.C. 419,276 3,821,839 0.0% UDG Healthcare P.L.C. 402,109 2,117,200 0.0% UK Mail Group P.L.C. 12,676 80,805 0.0% Ultra Electronics Holdings P.L.C. 152,419 4,262,443 0.0% Unilever P.L.C. 64,971 2,613,490 0.0% Unilever P.L.C. Sponsored ADR 211,405 8,504,823 0.1% Unite Group P.L.C. (The) 267,834 1,831,261 0.0% United Utilities Group P.L.C. 596,813 8,181,268 0.1% United Utilities Group P.L.C. ADR 10,818 296,521 0.0% UTV Media P.L.C. 124,840 414,684 0.0% * Vectura Group P.L.C. 515,308 975,116 0.0% Vedanta Resources P.L.C. 287,082 3,788,378 0.0% Vesuvius P.L.C. 596,184 4,070,387 0.0% Victrex P.L.C. 139,122 3,779,090 0.0% Vitec Group P.L.C. (The) 22,541 219,373 0.0% Vodafone Group P.L.C. 339,571 1,129,226 0.0% Vodafone Group P.L.C. Sponsored ADR 1,234,928 41,024,299 0.3% # Volex P.L.C. 24,880 30,191 0.0% Vp P.L.C. 13,881 130,925 0.0% Weir Group P.L.C. (The) 342,178 12,506,211 0.1% WH Smith P.L.C. 241,646 4,362,865 0.0% Whitbread P.L.C. 188,208 13,155,924 0.1% William Hill P.L.C. 2,002,421 11,563,864 0.1% Wilmington Group P.L.C. 141,363 494,139 0.0% * Wincanton P.L.C. 58,198 138,024 0.0% WM Morrison Supermarkets P.L.C. 3,818,313 9,480,453 0.1% INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- UNITED KINGDOM -- (Continued) Wolseley P.L.C. 258,786 $ 13,762,233 0.1% # Wolseley P.L.C. ADR 53,693 288,871 0.0% WPP P.L.C. 443,647 8,665,603 0.1% WPP P.L.C. Sponsored ADR 134,635 13,139,030 0.1% WS Atkins P.L.C. 179,636 3,905,477 0.0% Xaar P.L.C. 66,022 294,362 0.0% Xchanging P.L.C. 465,281 1,410,743 0.0% # XP Power, Ltd. 4,208 95,460 0.0% -------------------- ------------------ TOTAL UNITED KINGDOM 2,318,906,531 18.9% -------------------- ------------------ UNITED STATES -- (0.0%) * Endo International P.L.C. 19,488 1,302,197 0.0% * Kofax, Ltd. 4,911 30,666 0.0% * McEwen Mining - Minera Andes Acquisition Corp. 75,925 94,986 0.0% -------------------- ------------------ TOTAL UNITED STATES 1,427,849 0.0% -------------------- ------------------ TOTAL COMMON STOCKS 12,225,384,176 99.4% -------------------- ------------------ PREFERRED STOCKS -- (0.0%) GERMANY -- (0.0%) Porsche Automobil Holding SE 55,763 4,578,826 0.1% -------------------- ------------------ UNITED KINGDOM -- (0.0%) Rolls-Royce Holdings P.L.C. 84,440,250 135,079 0.0% -------------------- ------------------ TOTAL PREFERRED STOCKS 4,713,905 0.1% -------------------- ------------------ RIGHTS/WARRANTS -- (0.0%) AUSTRALIA -- (0.0%) * Centrebet International, Ltd. Litigation Rights 22,005 -- 0.0% #* Ramelius Resources, Ltd. Warrants 08/01/15 50,110 331 0.0% -------------------- ------------------ TOTAL AUSTRALIA 331 0.0% -------------------- ------------------ AUSTRIA -- (0.0%) #* Intercell AG Rights 29,444 -- 0.0% -------------------- ------------------ FRANCE -- (0.0%) * Bigben Interactive Rights 01/31/2016 9,396 318 0.0% * Groupe Fnac Rights 05/16/15 4 19 0.0% * Peugeot SA Warrants 04/29/17 213,192 323,266 0.0% -------------------- ------------------ TOTAL FRANCE 323,603 0.0% -------------------- ------------------ GERMANY -- (0.0%) #* Rhoen Klinikum AG Rights 11/14/14 181,202 152,593 0.0% -------------------- ------------------ HONG KONG -- (0.0%) * Cheuk Nang Holdings, Ltd. Warrants 11/10/15 1,945 512 0.0% * Enviro Energy International Holdings Rights 11/07/14 204,000 2,762 0.0% -------------------- ------------------ TOTAL HONG KONG 3,274 0.0% -------------------- ------------------ ITALY -- (0.0%) #* Trevi Finanziaria Industriale SpA Rights 11/06/14 113,172 126,221 0.0% -------------------- ------------------ INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------ PORTUGAL -- (0.0%) * Mota-Engil SGPS SA Rights 12/31/49 149,762 $ -- 0.0% -------------------- ------------------ SINGAPORE -- (0.0%) * Global Yellow Pages, Ltd. Warrants 06/25/19 43,500 203 0.0% -------------------- ------------------ SPAIN -- (0.0%) * Banco Santander SA Rights 11/03/14 4,404,666 838,996 0.0% #* Vidrala SA Rights 11/13/14 24,069 46,992 0.0% -------------------- ------------------ TOTAL SPAIN 885,988 0.0% -------------------- ------------------ UNITED KINGDOM -- (0.0%) * Consort Medical P.L.C. Rights 26,871 312,720 0.0% * McBride P.L.C. Rights 9,224,457 14,756 0.0% -------------------- ------------------ TOTAL UNITED KINGDOM 327,476 0.0% -------------------- ------------------ TOTAL RIGHTS/WARRANTS 1,819,689 0.0% -------------------- ------------------ VALUE+ -------------------- SECURITIES LENDING COLLATERAL -- (9.7%) (S)@ DFA Short Term Investment Fund 113,487,730 1,313,053,034 10.7% -------------------- ------------------ TOTAL INVESTMENTS -- (100.0%) (Cost $12,383,347,936) $ 13,544,970,804 110.2% ==================== ================== INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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 $ 51,305,653 $ 774,387,681 -- $ 825,693,334 Austria 63,420 54,026,588 -- 54,090,008 Belgium 17,745,914 161,025,553 -- 178,771,467 Canada 1,140,163,277 18,516 -- 1,140,181,793 China -- 423,278 -- 423,278 Denmark 8,989,736 176,883,229 -- 185,872,965 Finland 2,879,754 185,828,547 -- 188,708,301 France 87,511,112 834,289,753 -- 921,800,865 Germany 74,885,190 706,381,231 -- 781,266,421 Greece -- -- -- -- Hong Kong 1,178,781 360,144,798 -- 361,323,579 Ireland 11,115,124 40,050,940 -- 51,166,064 Israel 35,879,323 51,445,102 -- 87,324,425 Italy 15,954,887 284,635,666 -- 300,590,553 Japan 119,241,147 2,468,450,146 -- 2,587,691,293 Netherlands 50,645,185 254,997,260 -- 305,642,445 New Zealand 103,194 38,572,430 -- 38,675,624 Norway 19,664,949 102,520,681 -- 122,185,630 Portugal 309,758 36,926,949 -- 37,236,707 Russia -- 106,452 -- 106,452 Singapore 14,607 171,309,213 -- 171,323,820 Spain 40,201,547 301,300,497 -- 341,502,044 Sweden 7,291,377 374,155,403 -- 381,446,780 Switzerland 115,089,398 726,936,550 -- 842,025,948 United Kingdom 660,083,143 1,658,823,388 -- 2,318,906,531 United States 1,397,183 30,666 -- 1,427,849 Preferred Stocks Germany -- 4,578,826 -- 4,578,826 United Kingdom -- 135,079 -- 135,079 Rights/Warrants Australia -- 331 -- 331 Austria -- -- -- -- France -- 323,603 -- 323,603 Germany -- 152,593 -- 152,593 Hong Kong -- 3,274 -- 3,274 Italy -- 126,221 -- 126,221 Portugal -- -- -- -- Singapore -- 203 -- 203 Spain -- 885,988 -- 885,988 United Kingdom 312,720 14,756 -- 327,476 Securities Lending Collateral -- 1,313,053,034 -- 1,313,053,034 --------------------- -------------------- --------------------- ------------------- TOTAL $ 2,462,026,379 $ 11,082,944,425 -- $ 13,544,970,804 ===================== ==================== ===================== =================== DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2014 PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- COMMON STOCKS -- (93.9%) AUSTRALIA -- (19.9%) 360 Capital Industrial Fund 111,150 $ 223,295 0.0% # Abacus Property Group 2,689,860 6,404,967 0.2% # ALE Property Group 1,094,341 2,965,638 0.1% # Aspen Group 732,012 793,801 0.0% # Astro Japan Property Group 349,322 1,355,962 0.1% # BWP Trust 4,415,521 9,777,157 0.3% # Carindale Property Trust 99,428 538,308 0.0% CFS Retail Property Trust Group 18,583,289 34,564,786 1.1% # Charter Hall Group 2,250,155 8,662,001 0.3% Charter Hall Office 2,059,687 -- 0.0% # Charter Hall Retail REIT 2,855,694 10,240,234 0.3% Cromwell Property Group 9,988,297 8,684,785 0.3% # Dexus Property Group 46,210,345 49,389,908 1.6% Federation Centres 12,347,359 29,650,888 1.0% # Folkestone Education Trust 865,194 1,425,193 0.1% Galileo Japan Trust 85,441 124,913 0.0% Generation Healthcare REIT 9,491 11,994 0.0% # Goodman Group 14,756,829 72,045,696 2.3% GPT Group 38,018,670 -- 0.0% GPT Group (The) 14,160,152 51,470,344 1.7% # Growthpoint Properties Australia, Ltd. 528,909 1,332,029 0.0% # Ingenia Communities Group 5,577,424 2,389,337 0.1% # Investa Office Fund 5,292,776 16,699,243 0.5% * Prime Retirement & Aged Care Property Trust 116,309 -- 0.0% #* Scentre Group 44,164,851 140,883,146 4.6% # Shopping Centres Australasia Property Group 5,706,372 9,108,219 0.3% Stockland 20,140,623 75,301,288 2.4% * Westfield Corp. 16,671,147 117,148,020 3.8% -------------------- ------------------ TOTAL AUSTRALIA 651,191,152 21.1% -------------------- ------------------ BELGIUM -- (1.5%) Aedifica SA 66,461 4,456,101 0.1% Befimmo SA 157,626 12,149,166 0.4% # Cofinimmo SA 157,224 18,261,633 0.6% Intervest Offices & Warehouses NV 49,583 1,369,083 0.0% Leasinvest Real Estate SCA 13,488 1,485,520 0.1% Montea SCA 3,117 128,952 0.0% Retail Estates NV 18,241 1,483,704 0.1% Warehouses De Pauw SCA 99,451 7,105,243 0.2% # Wereldhave Belgium NV 12,276 1,496,292 0.1% -------------------- ------------------ TOTAL BELGIUM 47,935,694 1.6% -------------------- ------------------ CANADA -- (5.3%) # Allied Properties REIT 290,215 9,159,263 0.3% # Artis REIT 554,753 7,747,493 0.3% # Boardwalk REIT 188,000 11,910,031 0.4% Brookfield Canada Office Properties 59,550 1,429,242 0.1% BTB REIT 140,387 604,123 0.0% # Calloway REIT 485,646 11,884,226 0.4% # Canadian Apartment Properties REIT 453,955 10,069,540 0.3% DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- -------------------- CANADA -- (Continued) # Canadian REIT 286,457 $ 12,578,641 0.4% # Chartwell Retirement Residences 491,145 5,011,461 0.2% # Cominar REIT 537,384 9,097,455 0.3% # Crombie REIT 320,582 3,717,676 0.1% Dream Global REIT 274,049 2,220,015 0.1% # Dream Office REIT 424,033 10,733,917 0.4% Granite REIT 186,055 6,859,132 0.2% H&R REIT 1,103,860 21,968,489 0.7% Huntingdon Capital Corp. 2,597 30,439 0.0% InnVest REIT 423,723 1,939,941 0.1% InterRent REIT 128,390 647,048 0.0% Morguard North American Residential REIT 80,869 744,794 0.0% # Morguard REIT 237,023 3,890,622 0.1% Northern Property REIT 148,229 3,819,325 0.1% # NorthWest Healthcare Properties REIT 195,245 1,716,763 0.1% # Partners REIT 104,000 393,097 0.0% # Plaza Retail REIT 50,517 179,289 0.0% # Pure Industrial Real Estate Trust 1,027,485 4,065,998 0.1% # Retrocom REIT 331,931 1,266,406 0.0% # RioCan REIT 1,231,999 29,022,291 0.9% -------------------- ------------------ TOTAL CANADA 172,706,717 5.6% -------------------- ------------------ CHINA -- (0.2%) * RREEF China Commercial Trust 1,392,000 2,872 0.0% # Yuexiu REIT 10,076,000 4,979,133 0.2% -------------------- ------------------ TOTAL CHINA 4,982,005 0.2% -------------------- ------------------ FRANCE -- (4.0%) # Acanthe Developpement SA 206,670 93,236 0.0% Affine SA 50,624 897,276 0.0% Altarea SCA 897 150,650 0.0% # ANF Immobilier 47,753 1,317,263 0.1% Argan SA 8,285 181,866 0.0% # Cegereal 15,742 530,604 0.0% Fonciere Des Regions 257,388 23,663,104 0.8% Gecina SA 208,873 28,268,746 0.9% ICADE 335,700 26,711,749 0.9% Klepierre 905,121 39,175,341 1.3% Mercialys SA 468,428 10,347,138 0.3% Terreis 1,329 41,954 0.0% -------------------- ------------------ TOTAL FRANCE 131,378,927 4.3% -------------------- ------------------ GERMANY -- (0.4%) # Alstria Office REIT-AG 610,592 7,580,520 0.3% * DO Deutsche Office AG 114,387 417,292 0.0% Hamborner REIT AG 403,138 4,145,809 0.1% -------------------- ------------------ TOTAL GERMANY 12,143,621 0.4% -------------------- ------------------ GREECE -- (0.0%) Grivalia Properties Real Estate Investment Co. 96,660 1,044,767 0.0% -------------------- ------------------ DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- HONG KONG -- (4.3%) Champion REIT 22,866,012 $ 10,114,000 0.3% # Fortune REIT 7,958,000 7,336,323 0.3% Link REIT (The) 19,435,805 114,419,536 3.7% # Prosperity REIT 10,116,000 3,366,321 0.1% # Regal REIT 7,948,000 2,030,568 0.1% Sunlight REIT 8,831,000 3,838,074 0.1% -------------------- ------------------ TOTAL HONG KONG 141,104,822 4.6% -------------------- ------------------ ISRAEL -- (0.2%) # Alony Hetz Properties & Investments, Ltd. 642,475 4,303,781 0.1% # Reit 1, Ltd. 1,101,420 2,841,974 0.1% Sella Capital Real Estate, Ltd. 264,110 419,930 0.0% -------------------- ------------------ TOTAL ISRAEL 7,565,685 0.2% -------------------- ------------------ ITALY -- (0.3%) # Beni Stabili SpA 11,008,586 7,590,649 0.2% # Immobiliare Grande Distribuzione 3,648,256 3,046,889 0.1% -------------------- ------------------ TOTAL ITALY 10,637,538 0.3% -------------------- ------------------ JAPAN -- (17.6%) # Advance Residence Investment Corp. 11,195 26,247,032 0.9% Comforia Residential REIT, Inc. 1,298 2,417,869 0.1% Daiwa House REIT Investment Corp. 827 3,683,436 0.1% Daiwa House Residential Investment Corp. 2,991 12,647,149 0.4% # Daiwa Office Investment Corp. 2,576 13,856,423 0.5% Frontier Real Estate Investment Corp. 4,130 19,022,847 0.6% # Fukuoka REIT Corp. 5,321 9,919,943 0.3% Global One Real Estate Investment Corp. 1,759 5,450,214 0.2% GLP J-Reit 4,945 5,611,227 0.2% Hankyu Reit, Inc. 950 5,427,408 0.2% Heiwa Real Estate REIT, Inc. 6,819 5,609,077 0.2% # Ichigo Real Estate Investment Corp. 5,996 4,511,019 0.1% # Industrial & Infrastructure Fund Investment Corp. 1,320 10,797,529 0.4% # Invincible Investment Corp. 10,807 3,690,024 0.1% Japan Excellent, Inc. 9,901 13,136,563 0.4% # Japan Hotel REIT Investment Corp. 23,536 14,598,992 0.5% Japan Logistics Fund, Inc. 7,530 16,920,060 0.5% Japan Prime Realty Investment Corp. 6,863 25,274,243 0.8% Japan Real Estate Investment Corp. 10,905 59,424,068 1.9% Japan Rental Housing Investments, Inc. 9,787 6,779,865 0.2% Japan Retail Fund Investment Corp. 20,401 41,076,269 1.3% # Kenedix Office Investment Corp. 3,498 18,705,207 0.6% Kenedix Residential Investment Corp. 2,276 5,963,515 0.2% MID Reit, Inc. 1,673 4,185,894 0.1% # Mori Hills REIT Investment Corp. 11,966 16,710,243 0.5% # Mori Trust Sogo Reit, Inc. 9,857 17,611,418 0.6% Nippon Accommodations Fund, Inc. 4,065 14,870,892 0.5% # Nippon Building Fund, Inc. 12,309 68,987,575 2.2% Nomura Real Estate Master Fund, Inc. 3,074 3,716,457 0.1% # Nomura Real Estate Office Fund, Inc. 3,203 14,194,672 0.5% # Nomura Real Estate Residential Fund, Inc. 1,356 7,146,969 0.2% DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- JAPAN -- (Continued) # Orix JREIT, Inc. 18,506 $ 24,673,376 0.8% # Premier Investment Corp. 1,976 8,730,826 0.3% # Sekisui House SI Residential Investment Corp. 8,180 7,990,804 0.3% Starts Proceed Investment Corp. 617 1,005,632 0.0% # Tokyu REIT, Inc. 8,578 11,916,512 0.4% # Top REIT, Inc. 1,542 6,364,716 0.2% # United Urban Investment Corp. 21,590 34,073,425 1.1% -------------------- ------------------ TOTAL JAPAN 572,949,390 18.5% -------------------- ------------------ MALAYSIA -- (0.7%) Amanahraya REIT 609,800 163,163 0.0% AmFirst REIT 1,788,940 527,710 0.0% Axis REIT 2,462,625 2,762,537 0.1% Boustead Plantations Bhd 270,800 125,108 0.0% CapitaMalls Malaysia Trust 8,747,100 3,827,058 0.1% Hektar REIT 125,525 58,406 0.0% IGB REIT 6,870,900 2,757,810 0.1% KLCCP Stapled Group 3,241,500 6,779,533 0.2% Quill Capita Trust 733,100 262,991 0.0% Sunway REIT 10,951,200 5,094,385 0.2% Tower REIT 434,900 175,868 0.0% YTL Hospitality REIT 4,316,800 1,351,888 0.1% -------------------- ------------------ TOTAL MALAYSIA 23,886,457 0.8% -------------------- ------------------ MEXICO -- (1.9%) Asesor de Activos Prisma SAPI de C.V. 928,289 1,148,449 0.0% Concentradora Fibra Hotelera Mexicana S.A. de C.V. 1,102,307 1,854,061 0.1% # Fibra Uno Administracion S.A. de C.V. 13,210,601 45,852,668 1.5% # Mexico Real Estate Management S.A. de C.V. 4,627,740 8,433,286 0.3% TF Administradora Industrial S de RL de C.V. 1,766,976 4,088,664 0.1% -------------------- ------------------ TOTAL MEXICO 61,377,128 2.0% -------------------- ------------------ NETHERLANDS -- (8.7%) Corio NV 617,119 30,038,041 1.0% Eurocommercial Properties NV 317,148 14,478,158 0.5% Nieuwe Steen Investments NV 603,320 2,996,999 0.1% Unibail-Rodamco SE 829,287 212,635,326 6.9% # Vastned Retail NV 179,884 8,214,716 0.2% Wereldhave NV 191,004 15,659,030 0.5% -------------------- ------------------ TOTAL NETHERLANDS 284,022,270 9.2% -------------------- ------------------ NEW ZEALAND -- (0.7%) # Argosy Property, Ltd. 4,816,505 3,972,242 0.1% # DNZ Property Fund, Ltd. 796,556 1,089,700 0.0% # Goodman Property Trust 6,621,808 5,679,380 0.2% Kiwi Income Property Trust 6,822,946 6,382,767 0.2% NPT, Ltd. 45,944 21,027 0.0% # Precinct Properties New Zealand, Ltd. 1,956,292 1,677,983 0.1% # Property for Industry, Ltd. 1,002,207 1,140,860 0.0% DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** -------------------- -------------------- ------------------- NEW ZEALAND -- (Continued) # Vital Healthcare Property Trust 1,427,862 $ 1,700,156 0.1% -------------------- ------------------ TOTAL NEW ZEALAND 21,664,115 0.7% -------------------- ------------------ SINGAPORE -- (7.3%) AIMS AMP Capital Industrial REIT 3,987,191 4,625,927 0.1% Ascendas Hospitality Trust 648,000 355,747 0.0% Ascendas India Trust 2,943,000 1,877,241 0.1% Ascendas REIT 17,145,000 29,780,279 1.0% # Ascott Residence Trust 7,413,400 7,158,568 0.2% # Cache Logistics Trust 6,156,000 5,605,635 0.2% # Cambridge Industrial Trust 10,527,231 5,701,003 0.2% # CapitaCommercial Trust 17,525,000 22,787,274 0.7% CapitaMall Trust 20,595,300 31,588,897 1.0% # CapitaRetail China Trust 4,926,980 6,251,907 0.2% # CDL Hospitality Trusts 5,974,000 8,031,061 0.3% # Far East Hospitality Trust 1,935,000 1,251,962 0.0% # First REIT 3,946,000 3,777,864 0.1% Frasers Centrepoint Trust 5,105,000 7,739,422 0.2% Frasers Commercial Trust 4,533,200 5,010,970 0.2% # Keppel REIT Management, Ltd. 12,873,526 12,234,229 0.4% # Lippo Malls Indonesia Retail Trust 11,297,000 3,255,034 0.1% Mapletree Commercial Trust 10,646,000 11,845,832 0.4% # Mapletree Industrial Trust 9,681,000 11,118,938 0.4% Mapletree Logistics Trust 12,779,430 11,699,928 0.4% # Parkway Life REIT 2,757,000 5,129,602 0.2% # Sabana Shari'ah Compliant Industrial REIT 3,271,000 2,519,648 0.1% # Saizen REIT 1,705,600 1,214,718 0.0% Starhill Global REIT 12,335,000 7,829,388 0.3% # Suntec REIT 20,476,000 28,447,758 0.9% -------------------- ------------------ TOTAL SINGAPORE 236,838,832 7.7% -------------------- ------------------ SOUTH AFRICA -- (3.9%) # Acucap Properties, Ltd. 1,612,666 7,310,490 0.2% Arrowhead Properties, Ltd. Class A 303,379 224,577 0.0% Arrowhead Properties, Ltd. Class B 303,379 224,247 0.0% * Capital Property Fund 12,404,256 14,354,293 0.5% Emira Property Fund 4,782,027 6,939,592 0.2% # Fountainhead Property Trust 7,183,721 5,276,686 0.2% Growthpoint Properties, Ltd. 16,151,406 39,213,098 1.3% Hyprop Investments, Ltd. 1,090,134 9,516,898 0.3% Investec Property Fund, Ltd. 272,532 388,405 0.0% Octodec Investments, Ltd. 18,104 37,505 0.0% Rebosis Property Fund, Ltd. 1,124,208 1,217,655 0.1% Redefine Properties, Ltd. 21,537,673 19,515,849 0.6% Resilient Property Income Fund, Ltd. 1,637,446 12,096,294 0.4% SA Corporate Real Estate Fund Nominees Pty, Ltd. 14,004,579 5,878,231 0.2% # Vukile Property Fund, Ltd. 2,488,312 4,131,924 0.1% -------------------- ------------------ TOTAL SOUTH AFRICA 126,325,744 4.1% -------------------- ------------------ TAIWAN -- (0.4%) Cathay No. 1 REIT 9,821,000 5,815,966 0.1% DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- -------------------- ------------------ TAIWAN -- (Continued) Cathay No. 2 REIT 3,987,000 $ 2,032,261 0.1% Fubon No. 1 REIT 1,271,000 643,659 0.0% Fubon No. 2 REIT 3,968,000 1,631,080 0.0% Gallop No. 1 REIT 3,053,000 1,894,251 0.1% Shin Kong No.1 REIT 4,652,000 1,928,564 0.1% -------------------- ------------------ TOTAL TAIWAN 13,945,781 0.4% -------------------- ------------------ TURKEY -- (1.0%) #* Akfen Gayrimenkul Yatirim Ortakligi A.S. 339,253 189,176 0.0% Akmerkez Gayrimenkul Yatirim Ortakligi A.S. 110,306 818,661 0.0% # Alarko Gayrimenkul Yatirim Ortakligi A.S. 51,842 451,102 0.0% #* Dogus Gayrimenkul Yatirim Ortakligi A.S. 668,772 1,191,491 0.1% # Emlak Konut Gayrimenkul Yatirim Ortakligi A.S. 19,840,694 22,284,885 0.7% # Is Gayrimenkul Yatirim Ortakligi A.S. 3,500,330 2,062,156 0.1% #* Nurol Gayrimenkul Yatirim Ortakligi A.S. 74,764 122,369 0.0% * Ozak Gayrimenkul Yatirim Ortakligi 291,495 377,848 0.0% Saf Gayrimenkul Yatirim Ortakligi A.S. 2,591,051 1,386,577 0.1% #* Sinpas Gayrimenkul Yatirim Ortakligi A.S. 2,783,134 1,113,940 0.0% # Torunlar Gayrimenkul Yatirim Ortakligi A.S. 1,443,777 2,031,440 0.1% # Vakif Gayrimenkul Yatirim Ortakligi A.S. 785,371 1,007,040 0.0% -------------------- ------------------ TOTAL TURKEY 33,036,685 1.1% -------------------- ------------------ UNITED KINGDOM -- (15.6%) # Assura Group, Ltd. 960,329 764,494 0.0% Big Yellow Group P.L.C. 1,113,931 9,736,870 0.3% British Land Co. P.L.C. (The) 8,315,595 97,098,752 3.1% Derwent London P.L.C. 814,790 38,765,810 1.2% Great Portland Estates P.L.C. 2,866,484 31,548,662 1.0% Hammerson P.L.C. 6,180,158 60,713,819 2.0% Hansteen Holdings P.L.C. 5,658,900 9,574,995 0.3% Intu Properties P.L.C. 7,913,628 43,170,585 1.4% Land Securities Group P.L.C. 6,756,959 119,895,804 3.9% Londonmetric Property P.L.C. 4,846,632 11,427,902 0.4% McKay Securities P.L.C. 294,416 1,107,474 0.0% Mucklow A & J Group P.L.C. 303,097 2,297,161 0.1% Primary Health Properties P.L.C. 641,180 3,621,167 0.1% Redefine International P.L.C. 2,191,242 1,818,219 0.1% Safestore Holdings P.L.C. 1,596,799 5,318,948 0.2% Segro P.L.C. 6,175,812 37,624,807 1.2% Shaftesbury P.L.C. 2,310,809 26,472,834 0.9% Town Centre Securities P.L.C. 15,932 66,716 0.0% Workspace Group P.L.C. 917,268 9,656,819 0.3% -------------------- ------------------ TOTAL UNITED KINGDOM 510,681,838 16.5% -------------------- ------------------ TOTAL COMMON STOCKS 3,065,419,168 99.3% -------------------- ------------------ DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** -------------------- -------------------- ------------------ SECURITIES LENDING COLLATERAL -- (6.1%) (S)@ DFA Short Term Investment Fund 17,183,072 $ 198,808,147 6.4% -------------------- ------------------ TOTAL INVESTMENTS -- (100.0%) (Cost $2,897,109,357) $ 3,264,227,315 105.7% ==================== ================== DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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 -- $ 651,191,152 -- $ 651,191,152 Belgium -- 47,935,694 -- 47,935,694 Canada $ 172,706,717 -- -- 172,706,717 China -- 4,982,005 -- 4,982,005 France 93,236 131,285,691 -- 131,378,927 Germany -- 12,143,621 -- 12,143,621 Greece -- 1,044,767 -- 1,044,767 Hong Kong -- 141,104,822 -- 141,104,822 Israel -- 7,565,685 -- 7,565,685 Italy -- 10,637,538 -- 10,637,538 Japan -- 572,949,390 -- 572,949,390 Malaysia -- 23,886,457 -- 23,886,457 Mexico 61,377,128 -- -- 61,377,128 Netherlands -- 284,022,270 -- 284,022,270 New Zealand -- 21,664,115 -- 21,664,115 Singapore -- 236,838,832 -- 236,838,832 South Africa 21,650,697 104,675,047 -- 126,325,744 Taiwan -- 13,945,781 -- 13,945,781 Turkey -- 33,036,685 -- 33,036,685 United Kingdom -- 510,681,838 -- 510,681,838 Securities Lending Collateral -- 198,808,147 -- 198,808,147 -------------------- -------------------- -------------------- ------------------- TOTAL $ 255,827,778 $ 3,008,399,537 -- $ 3,264,227,315 ==================== ==================== ==================== =================== DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2014 PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- COMMON STOCKS -- (91.6%) AUSTRALIA -- (5.0%) * Aditya Birla Minerals, Ltd. 3,394,541 $ 694,523 0.0% * AED Oil, Ltd. 992,337 -- 0.0% #* AJ Lucas Group, Ltd. 584,687 365,279 0.0% Amalgamated Holdings, Ltd. 1,792,043 15,837,033 0.1% # Amcom Telecommunications, Ltd. 6,037 11,856 0.0% AP Eagers, Ltd. 418,637 2,079,002 0.0% * APN News & Media, Ltd. 13,243,119 8,595,504 0.1% #* Aquarius Platinum, Ltd. 2,700,506 718,649 0.0% # Arrium, Ltd. 50,261,926 14,922,258 0.1% * ASG Group, Ltd. 311,883 208,961 0.0% # Atlas Iron, Ltd. 16,726,523 5,006,826 0.1% # Ausdrill, Ltd. 3,792,139 2,050,920 0.0% * Ausenco, Ltd. 66,477 30,066 0.0% #* Austal, Ltd. 851,587 961,372 0.0% #* Australian Agricultural Co., Ltd. 10,083,640 12,469,893 0.1% # Australian Pharmaceutical Industries, Ltd. 6,568,489 4,680,937 0.1% Australian Vintage, Ltd. 29,777 10,445 0.0% Aveo Group 96,610 176,097 0.0% AVJennings, Ltd. 40,111 22,300 0.0% * AWE, Ltd. 9,864,655 15,291,854 0.1% Beach Energy, Ltd. 23,860,593 24,681,357 0.2% #* Billabong International, Ltd. 9,560,468 5,575,770 0.1% * BlueScope Steel, Ltd. 6,607,099 30,802,040 0.3% #* Boart Longyear, Ltd. 3,378,110 720,237 0.0% * Boom Logistics, Ltd. 4,516,879 601,793 0.0% # Bradken, Ltd. 1,958,088 6,679,418 0.1% # Breville Group, Ltd. 1,150,836 6,910,306 0.1% # Brickworks, Ltd. 467,068 5,578,923 0.1% Calliden Group, Ltd. 1,458,137 598,651 0.0% # Cape Lambert Resources, Ltd. 7,444,989 680,186 0.0% * Carnarvon Petroleum, Ltd. 449,972 88,157 0.0% CDS Technologies, Ltd. 15,209 -- 0.0% * Citigold Corp., Ltd. 11,406,919 130,495 0.0% * Coal of Africa, Ltd. 926,247 42,971 0.0% #* Cockatoo Coal, Ltd. 2,898,176 35,560 0.0% * Coffey International, Ltd. 1,029,250 274,134 0.0% Collection House, Ltd. 25,620 46,412 0.0% Collins Foods, Ltd. 12,972 25,508 0.0% #* Cooper Energy, Ltd. 2,468,890 894,708 0.0% Coventry Group, Ltd. 578,498 1,253,154 0.0% # Crowe Horwath Australasia, Ltd. 3,169,818 1,428,946 0.0% CSG, Ltd. 305,704 329,064 0.0% CSR, Ltd. 9,522,216 29,143,974 0.3% # Decmil Group, Ltd. 638,077 1,002,327 0.0% #* Devine, Ltd. 1,483,785 1,303,266 0.0% Downer EDI, Ltd. 6,577,893 27,777,376 0.2% Echo Entertainment Group, Ltd. 5,419,864 18,198,252 0.2% #* Elders, Ltd. 9,301,839 1,390,368 0.0% #* Emeco Holdings, Ltd. 11,367,540 1,843,162 0.0% #* Energy Resources of Australia, Ltd. 2,966,108 3,325,646 0.0% * Energy World Corp., Ltd. 622,222 193,192 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- AUSTRALIA -- (Continued) * Eservglobal, Ltd. 205,010 $ 118,471 0.0% # Evolution Mining, Ltd. 3,341,669 1,764,401 0.0% Fairfax Media, Ltd. 34,237,737 24,609,108 0.2% # Fleetwood Corp., Ltd. 424,975 649,625 0.0% * Focus Minerals, Ltd. 3,332,343 29,064 0.0% Gazal Corp., Ltd. 5,360 12,789 0.0% #* Geodynamics, Ltd. 168,462 6,473 0.0% Goodman Fielder, Ltd. 37,803,693 21,393,230 0.2% # GrainCorp, Ltd. Class A 2,291,360 17,722,537 0.2% # Grange Resources, Ltd. 2,889,445 348,695 0.0% #* Gunns, Ltd. 15,419,758 -- 0.0% HFA Holdings, Ltd. 153,930 187,637 0.0% #* Hillgrove Resources, Ltd. 1,317,944 634,376 0.0% Hills, Ltd. 2,700,501 3,161,961 0.0% # Imdex, Ltd. 651,633 345,044 0.0% #* Indophil Resources NL 1,863,584 452,747 0.0% * Infigen Energy 5,178,716 1,220,724 0.0% K&S Corp., Ltd. 163,153 220,444 0.0% #* Kingsgate Consolidated, Ltd. 2,180,795 1,391,347 0.0% Lednium, Ltd. 438,495 -- 0.0% * Lemarne Corp., Ltd. 5,585 2,187 0.0% #* Lonestar Resources, Ltd. 1,221,060 375,821 0.0% * Macmahon Holdings, Ltd. 12,556,459 1,091,333 0.0% Macquarie Telecom Group, Ltd. 4,996 23,467 0.0% * Matrix Composites & Engineering, Ltd. 21,737 17,035 0.0% * Maverick Drilling & Exploration, Ltd. 100,228 15,667 0.0% # MaxiTRANS Industries, Ltd. 4,380,537 2,374,470 0.0% # McPherson's, Ltd. 1,553,082 1,680,004 0.0% #* Medusa Mining, Ltd. 2,270,418 1,188,790 0.0% Melbourne IT, Ltd. 31,266 38,441 0.0% * MEO Australia, Ltd. 1,258,809 21,867 0.0% # Mermaid Marine Australia, Ltd. 2,106,074 3,447,430 0.0% #* Metals X, Ltd. 820,020 149,199 0.0% # Mincor Resources NL 2,480,205 1,348,832 0.0% #* Mineral Deposits, Ltd. 701,865 844,620 0.0% #* Molopo Energy, Ltd. 1,648,921 233,911 0.0% # Mount Gibson Iron, Ltd. 12,143,631 4,825,280 0.1% #* Newsat, Ltd. 188,485 31,616 0.0% * Nexus Energy, Ltd. 22,310,822 191,427 0.0% * Northern Iron, Ltd. 115,112 5,143 0.0% # NRW Holdings, Ltd. 4,083,213 2,733,159 0.0% # Nufarm, Ltd. 2,987,945 13,035,878 0.1% Oakton, Ltd. 9,304 15,488 0.0% * OM Holdings, Ltd. 323,217 123,167 0.0% * Otto Energy, Ltd. 1,354,768 114,371 0.0% # OZ Minerals, Ltd. 4,231,066 14,539,314 0.1% # Pacific Brands, Ltd. 25,649,033 10,658,319 0.1% #* Paladin Energy, Ltd. 12,082,797 3,464,972 0.0% PanAust, Ltd. 805,754 1,221,833 0.0% # Panoramic Resources, Ltd. 4,321,855 2,304,644 0.0% * PaperlinX, Ltd. 6,184,738 329,047 0.0% #* Perseus Mining, Ltd. 2,061,490 562,374 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- AUSTRALIA -- (Continued) #* Platinum Australia, Ltd. 1,963,690 $ 10,368 0.0% * PMP, Ltd. 6,456,626 2,750,909 0.0% # Premier Investments, Ltd. 1,553,481 14,739,645 0.1% Primary Health Care, Ltd. 10,511,594 43,076,867 0.4% Prime Media Group, Ltd. 1,405,549 1,058,425 0.0% # Programmed Maintenance Services, Ltd. 1,923,696 4,403,878 0.0% * Qantas Airways, Ltd. 2,240,997 3,348,300 0.0% #* Ramelius Resources, Ltd. 2,585,260 106,926 0.0% RCR Tomlinson, Ltd. 121,556 292,012 0.0% * Regional Express Holdings, Ltd. 21,861 19,443 0.0% #* Resolute Mining, Ltd. 8,450,885 2,379,768 0.0% #* Resource Generation, Ltd. 70,087 7,856 0.0% # Ridley Corp., Ltd. 8,052,689 6,232,691 0.1% * Roc Oil Co., Ltd. 1,762,175 1,058,112 0.0% #* Saracen Mineral Holdings, Ltd. 1,649,569 413,712 0.0% # Sedgman, Ltd. 23,374 10,143 0.0% # Select Harvests, Ltd. 277,431 1,540,233 0.0% * Service Stream, Ltd. 3,365,093 533,031 0.0% # Seven Group Holdings, Ltd. 1,020,895 6,158,574 0.1% # Seven West Media, Ltd. 7,567,113 11,441,646 0.1% # Sigma Pharmaceuticals, Ltd. 13,570,604 9,245,894 0.1% #* Silver Lake Resources, Ltd. 3,302,474 799,198 0.0% # Sims Metal Management, Ltd. 9,746 97,298 0.0% Skilled Group, Ltd. 246,908 504,201 0.0% # Southern Cross Media Group, Ltd. 10,034,456 8,653,430 0.1% #* St Barbara, Ltd. 947,439 91,712 0.0% #* Straits Resources, Ltd. 418,006 1,879 0.0% STW Communications Group, Ltd. 4,441,418 4,439,007 0.0% # Sunland Group, Ltd. 5,108,129 7,636,944 0.1% Swick Mining Services, Ltd. 440,732 103,799 0.0% * Tap Oil, Ltd. 5,076,579 2,751,165 0.0% Tassal Group, Ltd. 1,554,815 5,050,462 0.1% #* Ten Network Holdings, Ltd. 19,610,197 3,833,532 0.0% # TFS Corp., Ltd. 453,260 628,231 0.0% #* Toro Energy, Ltd. 2,101,506 152,070 0.0% * Transfield Services, Ltd. 7,167,831 12,101,182 0.1% Transpacific Industries Group, Ltd. 23,147,610 18,397,107 0.2% Treasury Wine Estates, Ltd. 832,351 3,398,455 0.0% #* Troy Resources, Ltd. 1,603,314 832,440 0.0% #* UGL, Ltd. 1,928,705 11,929,887 0.1% * Unity Mining, Ltd. 3,068,842 23,752 0.0% # UXC, Ltd. 4,632,797 3,437,135 0.0% Villa World, Ltd. 12,769 21,618 0.0% Village Roadshow, Ltd. 3,063,352 18,975,403 0.2% Virgin Australia Holdings, Ltd. (ACI01NXR8) 39,419,376 -- 0.0% #* Virgin Australia Holdings, Ltd. (B43DQC7) 53,307,962 18,081,279 0.2% Watpac, Ltd. 1,794,679 1,324,485 0.0% # WDS, Ltd. 547,686 117,471 0.0% #* Whitehaven Coal, Ltd. 5,760,776 7,725,900 0.1% --------------------- ------------------ TOTAL AUSTRALIA 636,904,382 5.4% --------------------- ------------------ DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- AUSTRIA -- (0.7%) # A-TEC Industries AG 202,339 $ -- 0.0% # Agrana Beteiligungs AG 90,580 8,176,201 0.1% AMAG Austria Metall AG 739 23,598 0.0% Austria Technologie & Systemtechnik AG 273,407 3,168,732 0.0% # Flughafen Wien AG 201,386 18,496,104 0.2% Frauenthal Holding AG 4,402 51,369 0.0% Lenzing AG 4,220 243,518 0.0% Linz Textil Holding AG 212 107,086 0.0% Mayr Melnhof Karton AG 47,178 5,063,183 0.0% Oberbank AG 38,337 2,414,184 0.0% POLYTEC Holding AG 35,871 296,014 0.0% Strabag SE 325,387 7,042,152 0.1% UNIQA Insurance Group AG 258,948 2,887,383 0.0% Wienerberger AG 2,908,213 35,168,160 0.3% * Wolford AG 2,273 55,519 0.0% Zumtobel Group AG 21,110 372,273 0.0% --------------------- ------------------ TOTAL AUSTRIA 83,565,476 0.7% --------------------- ------------------ BELGIUM -- (0.8%) Ackermans & van Haaren NV 27,734 3,458,633 0.0% #* AGFA-Gevaert NV 4,293,853 10,833,061 0.1% Banque Nationale de Belgique 4,448 18,120,447 0.2% Barco NV 27,189 2,004,718 0.0% Cie d'Entreprises CFE 5,344 577,926 0.0% Cie Immobiliere de Belgique SA 43,910 2,311,325 0.0% Cie Maritime Belge SA 141,754 2,776,278 0.0% D'ieteren SA 238,791 8,646,505 0.1% Deceuninck NV 1,282,481 3,183,960 0.0% #* Euronav NV 361,203 3,833,435 0.1% * Floridienne SA 706 62,806 0.0% Gimv NV 10,968 498,364 0.0% Jensen-Group NV 37,274 699,894 0.0% # NV Bekaert SA 399,688 12,565,352 0.1% #* Nyrstar NV 4,585,036 15,474,704 0.2% * Papeteries Catala SA 188 -- 0.0% * RealDolmen NV/SA 22,860 543,636 0.0% Recticel SA 472,363 3,604,033 0.0% * RHJ International SA 112,074 610,809 0.0% * Roularta Media Group NV 26,889 404,530 0.0% * Sapec 2,010 70,990 0.0% Sioen Industries NV 108,546 1,532,525 0.0% Sipef SA 2,949 204,670 0.0% #* Tessenderlo Chemie NV 426,335 11,060,686 0.1% * Viohalco SA 147,410 475,620 0.0% --------------------- ------------------ TOTAL BELGIUM 103,554,907 0.9% --------------------- ------------------ CANADA -- (7.9%) * 5N Plus, Inc. 449,045 964,189 0.0% # Acadian Timber Corp. 2,826 35,731 0.0% * Advantage Oil & Gas, Ltd. 4,610,588 19,758,786 0.2% # AGF Management, Ltd. Class B 1,168,461 10,616,247 0.1% * AgJunction, Inc. 913,927 494,650 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- CANADA -- (Continued) AGT Food & Ingredient, Inc. 153,192 $ 3,763,707 0.0% Aimia, Inc. 792,149 11,421,340 0.1% * Air Canada Class A 289,135 2,408,924 0.0% Akita Drilling, Ltd. Class A 10,400 127,618 0.0% Alacer Gold Corp. 2,669,335 4,428,957 0.0% Alamos Gold, Inc. 182,541 1,362,113 0.0% #* Alexco Resource Corp. 59,320 29,474 0.0% # Algoma Central Corp. 245,010 3,491,292 0.0% #* Altius Minerals Corp. 82,148 769,693 0.0% #* Alumasc Group P.L.C. (The) 639,841 1,476,054 0.0% #* Alvopetro Energy, Ltd. 561,601 239,181 0.0% * Amerigo Resources, Ltd. 2,524,794 795,264 0.0% * Anderson Energy, Ltd. 2,466,129 492,329 0.0% Andrew Peller, Ltd. Class A 12,423 164,677 0.0% #* Argonaut Gold, Inc. 878,910 1,871,598 0.0% #* Artek Exploration, Ltd. 298,119 682,443 0.0% * ATS Automation Tooling Systems, Inc. 1,719,684 21,514,169 0.2% AuRico Gold, Inc. 1,643,217 5,263,310 0.1% Axia NetMedia Corp. 37,065 88,136 0.0% #* B2Gold Corp. 8,131,548 13,564,004 0.1% #* Ballard Power Systems, Inc. 1,923,695 5,393,617 0.1% #* Banro Corp. 595,453 84,533 0.0% * Bellatrix Exploration, Ltd. 2,409,041 11,264,492 0.1% #* BlackPearl Resources, Inc. 1,752,066 2,518,386 0.0% # Bonavista Energy Corp. 220,715 2,073,885 0.0% # Boralex, Inc. Class A 653,728 7,627,455 0.1% Bumi Serpong Damai Tbk PT 907,835 11,800,526 0.1% Calvalley Petroleum, Inc. Class A 175,110 191,105 0.0% # Canaccord Genuity Group, Inc. 1,714,225 14,510,187 0.1% * Canacol Energy, Ltd. 18,725 63,965 0.0% Canam Group, Inc. Class A 938,246 8,158,299 0.1% * Canfor Corp. 1,709,447 39,799,378 0.4% # CanWel Building Materials Group, Ltd. 21,550 118,931 0.0% # Capstone Infrastructure Corp. 1,787,854 6,773,556 0.1% #* Capstone Mining Corp. 7,240,168 13,554,638 0.1% Cascades, Inc. 2,141,123 11,911,487 0.1% # Cathedral Energy Services, Ltd. 50,142 138,363 0.0% CCL Industries, Inc. Class B 192,648 19,475,900 0.2% * Celestica, Inc. 4,266,945 46,869,952 0.4% Centerra Gold, Inc. 987,254 3,854,237 0.0% #* Cequence Energy, Ltd. 3,771,733 4,785,571 0.1% Cervus Equipment Corp. 1,500 24,422 0.0% #* China Gold International Resources Corp., Ltd. 2,055,135 3,938,682 0.0% #* Chinook Energy, Inc. 623,217 862,622 0.0% Clarke, Inc. 210,316 1,823,155 0.0% * Claude Resources, Inc. 713,457 139,267 0.0% # Colabor Group, Inc. 261,815 822,346 0.0% # COM DEV International, Ltd. 406,754 1,335,335 0.0% #* Connacher Oil and Gas, Ltd. 11,010,228 976,907 0.0% #* Copper Mountain Mining Corp. 1,307,279 2,424,216 0.0% #* Corridor Resources, Inc. 178,615 228,211 0.0% Corus Entertainment, Inc. Class B 23,300 428,767 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- CANADA -- (Continued) Cott Corp. 1,505,364 $ 9,122,609 0.1% * Crew Energy, Inc. 2,632,212 16,441,837 0.2% * Delphi Energy Corp. 3,555,002 6,655,476 0.1% #* Denison Mines Corp. 4,664,765 4,387,251 0.0% * Dominion Diamond Corp. 833,698 11,665,336 0.1% Dorel Industries, Inc. Class B 829,041 25,760,184 0.2% #* DragonWave, Inc. 65,610 69,857 0.0% #* Dundee Precious Metals, Inc. 1,233,586 3,513,430 0.0% * Dynasty Metals & Mining, Inc. 4,528 3,616 0.0% E-L Financial Corp., Ltd. 1,457 892,001 0.0% #* Eastern Platinum, Ltd. 382,017 294,889 0.0% Enbridge Income Fund Holdings, Inc. 25,870 681,726 0.0% * Endeavour Mining Corp. 745,584 317,537 0.0% #* Endeavour Silver Corp. 220,859 674,109 0.0% #* Energy Fuels, Inc. 113,479 685,680 0.0% Ensign Energy Services, Inc. 240,583 2,715,244 0.0% #* Epsilon Energy, Ltd. 43,300 140,997 0.0% # Equitable Group, Inc. 42,766 2,480,849 0.0% * Equity Financial Holdings, Inc. 1,900 14,313 0.0% #* Essential Energy Services Trust 2,307,703 4,136,072 0.0% # Exchange Income Corp. 22,105 377,357 0.0% #* EXFO, Inc. 8,639 32,117 0.0% #* Fortress Paper, Ltd. Class A 12,405 22,894 0.0% #* Gasfrac Energy Services, Inc. 42,951 38,109 0.0% Genesis Land Development Corp. 25,511 100,274 0.0% # Genworth MI Canada, Inc. 213,003 7,446,270 0.1% # Glacier Media, Inc. 26,100 38,674 0.0% #* GLG Life Tech Corp. 24,267 8,343 0.0% * GLV, Inc. Class A 161,845 330,281 0.0% #* Golden Star Resources, Ltd. 1,786,705 507,294 0.0% * Gran Tierra Energy, Inc. 1,710,988 7,803,095 0.1% Guardian Capital Group, Ltd. Class A 15,961 258,735 0.0% * Heroux-Devtek, Inc. 407,417 3,672,736 0.0% # HNZ Group, Inc. 14,930 263,217 0.0% # HudBay Minerals, Inc. 4,452,663 34,094,744 0.3% # Hudson's Bay Co. 58,821 1,020,841 0.0% * IAMGOLD Corp. 2,368,902 4,497,982 0.1% # Indigo Books & Music, Inc. 6,242 70,116 0.0% * Interfor Corp. 930,772 14,155,035 0.1% Intertape Polymer Group, Inc. 653,542 9,573,647 0.1% #* Ithaca Energy, Inc. 3,970,506 5,073,004 0.1% #* Ivanhoe Energy, Inc. 34,866 39,288 0.0% * Katanga Mining, Ltd. 363,169 125,670 0.0% * Kingsway Financial Services, Inc. 303,286 1,964,410 0.0% #* Kirkland Lake Gold, Inc. 732,476 2,274,669 0.0% #* Lake Shore Gold Corp. 7,266,492 5,286,831 0.1% # Laurentian Bank of Canada 753,210 33,134,423 0.3% * Legacy Oil + Gas, Inc. 4,303,962 17,528,225 0.2% * Leucrotta Exploration, Inc. 79,900 119,100 0.0% # Lightstream Resources, Ltd. 4,421,434 11,690,585 0.1% Linamar Corp. 639,104 32,645,594 0.3% # Liquor Stores N.A., Ltd. 205,047 2,365,122 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- CANADA -- (Continued) # Long Run Exploration, Ltd. 3,083,164 $ 8,726,581 0.1% Magellan Aerospace Corp. 11,314 124,177 0.0% # Major Drilling Group International, Inc. 481,751 2,812,583 0.0% Martinrea International, Inc. 506,717 5,372,670 0.1% #* Maxim Power Corp. 3,832 8,840 0.0% #* Mega Uranium, Ltd. 1,406,446 149,748 0.0% Melcor Developments, Ltd. 24,053 525,216 0.0% * Mercator Minerals, Ltd. 861,957 -- 0.0% #* Migao Corp. 882,655 1,143,407 0.0% * Mitel Networks Corp. 261,414 2,437,742 0.0% Nevsun Resources, Ltd. 1,253,045 4,235,927 0.0% # New Flyer Industries, Inc. 84,052 969,501 0.0% * New Gold, Inc. 722,763 2,622,866 0.0% Newalta Corp. 935,729 16,895,511 0.2% #* Niko Resources, Ltd. 214,057 58,877 0.0% North American Energy Partners, Inc. 28,487 152,160 0.0% #* North American Palladium, Ltd. 247,616 39,547 0.0% * NuVista Energy, Ltd. 2,319,172 21,338,728 0.2% * OceanaGold Corp. 5,829,362 9,516,903 0.1% * Orvana Minerals Corp. 58,211 15,753 0.0% * Osisko Gold Royalties, Ltd. 47,679 595,638 0.0% Pan American Silver Corp. 1,573,512 14,547,709 0.1% * Parex Resources, Inc. 99,495 911,923 0.0% #* Perpetual Energy, Inc. 53,800 66,829 0.0% * Phoscan Chemical Corp. 2,937,865 742,905 0.0% Pizza Pizza Royalty Corp. 22,900 277,958 0.0% #* Polaris Minerals Corp. 19,500 38,064 0.0% #* Poseidon Concepts Corp. 581,697 873 0.0% #* Primero Mining Corp. 2,672,406 9,128,932 0.1% # Pulse Seismic, Inc. 697,463 1,837,953 0.0% #* QLT, Inc. 1,077,170 4,291,285 0.0% #* Questerre Energy Corp. Class A 738,449 478,300 0.0% #* RB Energy, Inc. 238,050 15,841 0.0% Reitmans Canada, Ltd. Class A 243,810 1,330,404 0.0% #* Richmont Mines, Inc. 61,534 126,666 0.0% * RMP Energy, Inc. 1,894,708 9,952,239 0.1% * Rock Energy, Inc. 164,061 804,984 0.0% # Rocky Mountain Dealerships, Inc. 48,953 463,448 0.0% # Rogers Sugar, Inc. 49,247 194,008 0.0% RONA, Inc. 3,166,544 38,631,809 0.3% * San Gold Corp. 478,925 23,372 0.0% #* Sandstorm Gold, Ltd. 11,000 31,622 0.0% # Savanna Energy Services Corp. 2,310,973 12,466,808 0.1% * Scorpio Mining Corp. 65,907 11,111 0.0% # Sherritt International Corp. 7,277,981 18,081,138 0.2% * Shore Gold, Inc. 2,241,430 387,808 0.0% #* Sierra Wireless, Inc. 846,527 23,163,917 0.2% #* Silver Standard Resources, Inc. 1,203,715 5,243,992 0.1% * Sonde Resources Corp. 463,104 28,763 0.0% #* Southern Pacific Resource Corp. 156,000 4,152 0.0% #* Sprott Resource Corp. 2,169,141 4,022,452 0.0% # Sprott, Inc. 1,578,971 3,390,364 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------ CANADA -- (Continued) # Spyglass Resources Corp. 2,753,858 $ 2,590,027 0.0% * St Andrew Goldfields, Ltd. 764,897 159,488 0.0% #* Stornoway Diamond Corp. 147,408 74,551 0.0% # Strad Energy Services, Ltd. 18,864 77,160 0.0% Stuart Olson, Inc. 166,271 1,125,636 0.0% # Superior Plus Corp. 401,852 4,353,501 0.0% # Surge Energy, Inc. 998,995 5,539,877 0.1% #* TAG Oil, Ltd. 219,320 309,408 0.0% * Taseko Mines, Ltd. 704,493 925,114 0.0% #* Tembec, Inc. 614,867 1,560,285 0.0% #* Teranga Gold Corp.(B4L8QT1) 832,294 367,639 0.0% #* Teranga Gold Corp.(B5TDK82) 2,768,144 1,080,683 0.0% #* Tethys Petroleum, Ltd. 313,719 80,723 0.0% #* Thompson Creek Metals Co., Inc. 4,470,975 8,449,649 0.1% * Timmins Gold Corp. 1,083,086 1,037,871 0.0% TLC Vision Corp. 829,259 -- 0.0% TMX Group, Ltd. 14,718 707,921 0.0% # TORC Oil & Gas, Ltd. 652,042 6,115,154 0.1% # Torstar Corp. Class B 624,031 3,643,249 0.0% #* Touchstone Exploration, Inc. 1,231,424 655,565 0.0% # Transcontinental, Inc. Class A 1,629,923 22,256,790 0.2% TransGlobe Energy Corp. 342,357 1,485,405 0.0% Trinidad Drilling, Ltd. 3,263,431 21,253,346 0.2% # Twin Butte Energy, Ltd. 2,329,087 3,099,801 0.0% #* Uex Corp. 529,131 131,455 0.0% Uni-Select, Inc. 60,949 1,533,662 0.0% Valener, Inc. 196,117 2,801,547 0.0% * Wesdome Gold Mines, Ltd. 23,000 14,897 0.0% West Fraser Timber Co., Ltd. 1,107,322 58,094,982 0.5% Western Energy Services Corp. 744,387 4,722,388 0.1% Westjet Airlines, Ltd. 76,543 2,165,792 0.0% Whistler Blackcomb Holdings, Inc. 39,397 665,210 0.0% # Whitecap Resources, Inc. 19,097 247,216 0.0% * Xtreme Drilling and Coil Services Corp. 452,639 1,249,019 0.0% * Yellow Media, Ltd. 31,097 454,156 0.0% # Zargon Oil & Gas, Ltd. 157,063 854,262 0.0% --------------------- ------------------ TOTAL CANADA 1,005,331,407 8.6% --------------------- ------------------ CHINA -- (0.0%) * Hanfeng Evergreen, Inc. 707,267 162,375 0.0% Hopewell Highway Infrastructure, Ltd. 149,350 72,230 0.0% Zhuhai Holdings Investment Group, Ltd. 12,906,000 2,463,795 0.0% --------------------- ------------------ TOTAL CHINA 2,698,400 0.0% --------------------- ------------------ DENMARK -- (1.6%) * Alm Brand A.S. 2,279,674 12,445,369 0.1% * Auriga Industries A.S. Class B 3,891 201,051 0.0% #* Bang & Olufsen A.S. 33,508 260,076 0.0% BankNordik P/F 616 11,622 0.0% Brodrene Hartmann A.S. 49,034 1,412,350 0.0% # D/S Norden A.S. 591,387 15,551,571 0.1% Dfds A.S. 106,686 9,041,875 0.1% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- DENMARK -- (Continued) Djurslands Bank A.S. 6,785 $ 230,193 0.0% East Asiatic Co., Ltd. A.S. 152,996 1,378,178 0.0% GPV Industri A.S. Series B 6,000 -- 0.0% * Greentech Energy Systems A.S. 18,060 21,758 0.0% * H+H International A.S. Class B 58,677 408,316 0.0% Harboes Bryggeri A.S. Class B 20,575 289,211 0.0% * Jyske Bank A.S. 257,200 13,867,895 0.1% Lan & Spar Bank 5,706 360,459 0.0% NKT Holding A.S. 97,674 5,066,504 0.1% Nordjyske Bank A.S. 14,034 305,022 0.0% Norresundby Bank A.S. 5,455 275,580 0.0% * Parken Sport & Entertainment A.S. 1,495 15,364 0.0% PER Aarsleff A.S. Class B 41,163 6,851,065 0.1% Ringkjoebing Landbobank A.S. 689 132,774 0.0% Schouw & Co. 309,653 13,719,373 0.1% # Solar A.S. Class B 3,557 164,704 0.0% Spar Nord Bank A.S. 634,050 6,409,216 0.1% * Sydbank A.S. 650,846 20,661,743 0.2% * TK Development A.S. 1,056,373 1,548,897 0.0% * Topsil Semiconductor Matls 491,072 38,211 0.0% * Torm A.S. 326,815 20,927 0.0% United International Enterprises 47 8,378 0.0% * Vestas Wind Systems A.S. 2,910,693 97,144,292 0.8% #* Vestjysk Bank A.S. 130,615 248,903 0.0% --------------------- ------------------ TOTAL DENMARK 208,090,877 1.8% --------------------- ------------------ FINLAND -- (2.1%) Ahlstrom Oyj 50,307 459,393 0.0% Aktia Bank Oyj 85,494 1,040,147 0.0% Amer Sports Oyj 46,257 886,589 0.0% Apetit Oyj 64,219 1,149,482 0.0% Aspo Oyj 3,039 26,972 0.0% Atria Oyj 129,160 1,140,394 0.0% Bank of Aland P.L.C. Class A 5,030 66,539 0.0% * Biotie Therapies Oyj 4,759 1,228 0.0% # Cargotec Oyj 418,111 12,621,917 0.1% # Cramo Oyj 204,757 2,986,222 0.0% Digia Oyj 27,963 107,224 0.0% * Finnair Oyj 1,281,521 4,002,920 0.0% * Finnlines Oyj 614,000 11,619,641 0.1% Fiskars Oyj Abp 90,410 2,516,905 0.0% Glaston Oyj Abp 32,935 13,933 0.0% HKScan Oyj Class A 450,600 1,916,587 0.0% Huhtamaki Oyj 1,740,823 44,173,657 0.4% # Kemira Oyj 2,020,251 26,088,613 0.2% Kesko Oyj Class A 6,632 240,880 0.0% Kesko Oyj Class B 841,661 31,920,434 0.3% #* Lemminkainen Oyj 104,048 1,544,471 0.0% Metsa Board Oyj 4,530,939 20,238,995 0.2% Munksjo Oyj 27,842 262,105 0.0% # Neste Oil Oyj 1,780,186 38,415,420 0.3% Okmetic Oyj 297,467 1,775,931 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- FINLAND -- (Continued) * Oriola-KD Oyj Class A 2,365 $ 7,716 0.0% * Oriola-KD Oyj Class B 710,159 2,348,368 0.0% #* Outokumpu Oyj 5,013,211 28,460,617 0.3% * Poyry Oyj 10,061 40,411 0.0% Raisio Oyj Class V 1,404,262 7,004,796 0.1% Saga Furs Oyj 18,354 578,751 0.0% # Sanoma Oyj 1,442,117 8,298,381 0.1% SRV Group Oyj 4,046 17,943 0.0% # Stockmann Oyj Abp 106,462 1,179,375 0.0% Tikkurila Oyj 216,636 4,473,778 0.1% Viking Line Abp 16,240 279,280 0.0% # YIT Oyj 797,910 5,337,979 0.1% --------------------- ------------------ TOTAL FINLAND 263,243,994 2.3% --------------------- ------------------ FRANCE -- (3.4%) Actia Group 57,576 343,507 0.0% #* Air France-KLM 2,782,561 23,507,382 0.2% Albioma SA 8,554 185,537 0.0% Altamir 68,975 864,861 0.0% April 7,583 113,535 0.0% # Aubay 69,484 825,720 0.0% Audika Groupe 390 5,740 0.0% # Bigben Interactive 2,948 19,176 0.0% Bonduelle S.C.A. 187,017 4,709,909 0.1% Bongrain SA 139,659 9,496,771 0.1% Burelle SA 11,385 7,771,386 0.1% #* Cegedim SA 40,268 1,292,771 0.0% Cegid Group 57,174 2,104,349 0.0% #* CGG SA 865,937 5,002,896 0.1% * Chargeurs SA 45,758 274,374 0.0% * Cie des Alpes 75,050 1,457,478 0.0% * Club Mediterranee SA 401,470 11,310,931 0.1% Derichebourg SA 1,087,936 2,730,793 0.0% Devoteam SA 8,490 135,997 0.0% #* Eramet 24,023 2,232,023 0.0% #* Esso SA Francaise 35,995 1,393,159 0.0% Exel Industries Class A 331 18,752 0.0% Faiveley Transport SA 7,926 476,658 0.0% Fleury Michon SA 24,291 1,402,493 0.0% Gaumont SA 22,166 1,102,323 0.0% Gevelot SA 4,329 559,112 0.0% # GL Events 87,189 1,742,587 0.0% Groupe Crit 5,037 258,150 0.0% Groupe Flo 50,246 177,732 0.0% * Groupe Fnac 90,064 3,792,465 0.0% * Groupe Open 863 9,482 0.0% Guerbet 49,533 2,303,768 0.0% Havas SA 4,936,605 39,930,886 0.4% * Hi-Media SA 367,546 1,170,440 0.0% * Immobiliere Hoteliere SA 27,700 -- 0.0% IPSOS 50,976 1,322,042 0.0% Jacquet Metal Service 237,778 4,057,881 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- FRANCE -- (Continued) Korian-Medica 63,558 $ 2,295,909 0.0% Lagardere SCA 1,173,128 28,549,632 0.3% Lanson-BCC 333 13,938 0.0% * Le Noble Age 8,397 204,107 0.0% LISI 254,080 6,374,969 0.1% * Manitou BF SA 5,917 82,328 0.0% Manutan International 24,868 1,201,542 0.0% Mersen 193,670 4,659,640 0.1% MGI Coutier 102,540 1,520,094 0.0% # Montupet 152,832 11,861,778 0.1% Mr Bricolage 114,065 2,078,081 0.0% # Naturex 8,872 617,467 0.0% #* Nexans SA 668,322 20,364,150 0.2% Nexity SA 560,521 20,123,860 0.2% * NRJ Group 10,560 91,586 0.0% #* Onxeo 17,692 148,935 0.0% #* Orco Property Group SA 109,892 51,052 0.0% # Paris Orleans SA 3,220 70,230 0.0% * Parrot SA 14,526 275,571 0.0% * Peugeot SA 3,646,402 43,335,736 0.4% #* Pierre & Vacances SA 105,867 2,632,167 0.0% Plastic Omnium SA 863,650 19,669,583 0.2% PSB Industries SA 14,426 634,521 0.0% Rallye SA 516,699 20,025,446 0.2% #* Recylex SA 78,137 185,084 0.0% Robertet SA 409 84,621 0.0% Saft Groupe SA 38,298 1,139,203 0.0% Samse SA 243 32,979 0.0% Seche Environnement SA 25,234 741,830 0.0% * Securidev SA 16,908 786,986 0.0% #* Sequana SA 477,130 1,418,047 0.0% # Societe des Bains de Mer et du Cercle des Etrangers a Monaco 70,051 3,917,931 0.0% Societe Internationale de Plantations d'Heveas SA 2,071 86,185 0.0% Societe Television Francaise 1 356,393 5,313,297 0.1% #* SOITEC 4,222,858 10,507,764 0.1% Sopra Group SA 139,916 10,487,966 0.1% #* Spir Communication SA 26,393 380,141 0.0% #* Ste Industrielle d'Aviation Latecoere SA 133,034 1,592,330 0.0% Stef SA 153 8,724 0.0% Sword Group 50,923 1,184,548 0.0% * Technicolor SA 693,246 4,092,935 0.0% Teleperformance 569,564 35,890,827 0.3% TFF Group 5,276 399,295 0.0% * Theolia SA 1,162,773 976,276 0.0% Total Gabon 978 433,538 0.0% Touax SA 6,140 109,245 0.0% * Trigano SA 170,877 3,460,828 0.0% * UBISOFT Entertainment 1,170,057 21,184,303 0.2% Vicat 55,390 3,788,072 0.0% Vilmorin & Cie SA 12,585 1,263,362 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- FRANCE -- (Continued) Vranken-Pommery Monopole SA 89,380 $ 2,697,424 0.0% --------------------- ------------------ TOTAL FRANCE 433,149,129 3.7% --------------------- ------------------ GERMANY -- (4.6%) #* AAP Implantate AG 27,916 85,179 0.0% Aareal Bank AG 1,199,589 51,540,648 0.5% #* ADVA Optical Networking SE 299,029 1,073,633 0.0% #* Air Berlin P.L.C. 145,784 215,689 0.0% Allgeier SE 34,648 617,572 0.0% * Analytik Jena AG 114,784 2,046,168 0.0% * AS Creation Tapeten 22,155 763,877 0.0% Aurubis AG 993,104 51,842,435 0.5% # Balda AG 638,978 2,196,652 0.0% #* Bauer AG 183,293 2,841,235 0.0% # BayWa AG 99,506 3,941,587 0.0% Bechtle AG 55,295 4,307,898 0.1% # Bilfinger SE 533,320 34,489,724 0.3% Biotest AG 48,662 4,823,032 0.1% * Borussia Dortmund GmbH & Co. KGaA(BQ8P020) 121,616 640,093 0.0% Borussia Dortmund GmbH & Co. KGaA(4627193) 296,023 1,567,724 0.0% Celesio AG 793,746 26,187,131 0.2% CENTROTEC Sustainable AG 55,135 892,979 0.0% Comdirect Bank AG 218,286 2,208,507 0.0% # CropEnergies AG 77,162 382,457 0.0% * DAB Bank AG 14,585 85,921 0.0% Data Modul AG 21,919 495,947 0.0% DEAG Deutsche Entertainment AG 177,932 1,315,914 0.0% * Deufol SE 65,810 64,327 0.0% Deutsche Beteiligungs AG 6,406 175,602 0.0% Deutz AG 1,372,968 6,185,039 0.1% DMG Mori Seiki AG 1,332,281 34,112,648 0.3% Dr Hoenle AG 7,168 152,756 0.0% Draegerwerk AG & Co. KGaA 8,824 732,371 0.0% Duerr AG 115,528 8,115,171 0.1% Eckert & Ziegler AG 44,085 1,319,983 0.0% Elmos Semiconductor AG 203,109 3,635,879 0.0% #* Euromicron AG 41,827 692,738 0.0% * First Sensor AG 10,325 130,064 0.0% Freenet AG 528,207 13,858,912 0.1% # Gesco AG 8,837 780,929 0.0% GFK SE 3,166 131,076 0.0% GFT Technologies AG 331,463 4,590,898 0.1% Grammer AG 289,640 10,613,114 0.1% * H&R AG 3,852 32,999 0.0% * Hansa Group AG 482 160 0.0% #* Heidelberger Druckmaschinen AG 5,333,749 13,622,950 0.1% Homag Group AG 10,371 365,445 0.0% Hornbach Baumarkt AG 21,701 772,901 0.0% Indus Holding AG 111,478 5,124,440 0.1% Isra Vision AG 64,342 3,833,149 0.0% # Jenoptik AG 1,031,282 11,814,978 0.1% * Joyou AG 34,473 427,935 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- GERMANY -- (Continued) * Kampa AG 31,214 $ 548 0.0% * Kloeckner & Co. SE 2,633,338 30,933,862 0.3% * Koenig & Bauer AG 38,019 481,522 0.0% * Kontron AG 1,074,044 6,219,534 0.1% Krones AG 946 90,759 0.0% KSB AG 6,000 3,234,175 0.0% # KWS Saat AG 15,840 5,166,346 0.1% Leifheit AG 53,391 2,797,853 0.0% Leoni AG 204,824 11,765,792 0.1% #* Manz AG 45,610 3,727,932 0.0% * Mediclin AG 837,208 3,929,450 0.0% * Medigene AG 5,212 26,413 0.0% MLP AG 88,161 448,450 0.0% Mosaic Software AG 12,800 -- 0.0% Nexus AG 188,043 2,881,942 0.0% * Nordex SE 1,098,988 18,628,439 0.2% * Osram Licht AG 61,894 2,174,270 0.0% * Patrizia Immobilien AG 261,369 3,533,608 0.0% # PNE Wind AG 772,790 2,183,599 0.0% Progress-Werk Oberkirch AG 2,128 113,916 0.0% Puma SE 686 144,139 0.0% * PVA TePla AG 2,822 6,848 0.0% * QIAGEN NV 161,221 3,788,925 0.0% Rheinmetall AG 882,932 38,042,519 0.3% Rohwedder AG 44,910 -- 0.0% SAF-Holland SA 565,795 7,089,569 0.1% # Salzgitter AG 580,878 17,541,869 0.2% #* Singulus Technologies AG 1,258,255 922,418 0.0% Sixt SE 295,833 9,570,298 0.1% #* SKW Stahl-Metallurgie Holding AG 59,357 306,615 0.0% #* SMA Solar Technology AG 86,896 2,163,814 0.0% SMT Scharf AG 831 15,511 0.0% #* Solarworld AG 8,138 146,334 0.0% Stroeer Media S.E. 3,943 89,977 0.0% # Suedzucker AG 127,668 1,777,651 0.0% Surteco SE 13,337 407,286 0.0% #* Suss Microtec AG 318,135 1,882,168 0.0% Syzygy AG 160,274 1,227,721 0.0% # TAG Immobilien AG 678,246 7,944,026 0.1% Technotrans AG 49,074 523,229 0.0% # Tipp24 SE 11,323 544,880 0.0% * Tom Tailor Holding AG 63,247 886,682 0.0% # Tomorrow Focus AG 27,749 114,876 0.0% TUI AG 3,423,151 52,422,124 0.5% UMS United Medical Systems International AG 60,594 721,359 0.0% * VERBIO Vereinigte BioEnergie AG 71,199 130,796 0.0% Vossloh AG 28,643 1,649,880 0.0% VTG AG 159,367 3,222,483 0.0% # Wacker Chemie AG 23,039 2,791,843 0.0% Wacker Neuson SE 473,839 9,220,303 0.1% --------------------- ------------------ TOTAL GERMANY 579,483,019 5.0% --------------------- ------------------ DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- GREECE -- (0.0%) Alapis Holding Industrial and Commercial SA of Pharmaceutical Chemical Products 173,961 $ -- 0.0% Atlantic Supermarkets SA 129,593 -- 0.0% * Bank of Cyprus PCL 3,206,782 -- 0.0% Ergas SA 104,948 -- 0.0% Etma Rayon SA 39,176 -- 0.0% * Michaniki SA 986,718 23,184 0.0% * T Bank SA 1,210,617 -- 0.0% Themeliodomi SA 140,360 -- 0.0% * Tropea Holding SA 4,581 2,153 0.0% --------------------- ------------------ TOTAL GREECE 25,337 0.0% --------------------- ------------------ HONG KONG -- (2.4%) Alco Holdings, Ltd. 88,000 19,176 0.0% Allan International Holdings 10,000 2,819 0.0% Allied Group, Ltd. 2,157,000 8,844,931 0.1% Allied Properties HK, Ltd. 40,152,372 7,712,467 0.1% * Apac Resources, Ltd. 1,356,070 33,962 0.0% APT Satellite Holdings, Ltd. 461,250 675,160 0.0% Asia Financial Holdings, Ltd. 4,238,106 1,753,815 0.0% Asia Standard Hotel Group, Ltd. 2,311,359 334,118 0.0% Asia Standard International Group, Ltd. 4,381,756 1,068,705 0.0% Associated International Hotels, Ltd. 1,683,000 4,936,353 0.1% * Bel Global Resources Holdings, Ltd. 16,756,000 -- 0.0% Century City International Holdings, Ltd. 31,035,300 2,281,473 0.0% Champion Technology Holdings, Ltd. 121,067,373 2,676,950 0.0% Chen Hsong Holdings 2,048,000 588,652 0.0% Cheuk Nang Holdings, Ltd. 4,210,869 3,698,876 0.0% * Cheung Wo International Holdings, Ltd. 168,000 11,915 0.0% Chevalier International Holdings, Ltd. 2,603,418 4,218,629 0.1% * China Billion Resources, Ltd. 64,707,136 -- 0.0% #* China Daye Non-Ferrous Metals Mining, Ltd. 9,598,000 205,789 0.0% * China Energy Development Holdings, Ltd. 7,122,000 212,201 0.0% China Motor Bus Co., Ltd. 28,200 345,269 0.0% * China Renji Medical Group, Ltd. 9,249,100 405,802 0.0% * China Star Entertainment, Ltd. 27,000,000 410,883 0.0% Chinney Investments, Ltd. 1,924,000 322,432 0.0% Chong Hing Bank, Ltd. 123,201 273,087 0.0% Chu Kong Shipping Enterprise Group Co., Ltd. 3,396,000 845,468 0.0% Chuang's China Investments, Ltd. 20,949,610 1,349,439 0.0% Chuang's Consortium International, Ltd. 24,739,155 3,029,957 0.0% Chun Wo Development Holdings, Ltd. 10,349,143 1,588,712 0.0% CSI Properties, Ltd. 119,575,476 5,170,418 0.1% * CST Mining Group, Ltd. 103,016,000 570,795 0.0% Dah Sing Banking Group, Ltd. 493,088 895,906 0.0% Dah Sing Financial Holdings, Ltd. 1,489,756 9,276,290 0.1% * Dan Form Holdings Co., Ltd. 19,223,896 1,909,284 0.0% Dickson Concepts International, Ltd. 336,500 176,364 0.0% Dorsett Hospitality International, Ltd. 2,165,000 382,419 0.0% EcoGreen Fine Chemicals Group, Ltd. 952,000 281,909 0.0% Emperor International Holdings, Ltd. 33,754,333 7,359,908 0.1% Emperor Watch & Jewellery, Ltd. 8,220,000 376,496 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- HONG KONG -- (Continued) * EPI Holdings, Ltd. 48,996,388 $ 1,099,652 0.0% * eSun Holdings, Ltd. 18,512,400 2,053,980 0.0% Ezcom Holdings, Ltd. 67,280 -- 0.0% # Far East Consortium International, Ltd. 16,380,904 6,086,682 0.1% Fountain SET Holdings, Ltd. 17,876,000 2,074,178 0.0% * Frontier Services Group, Ltd. 1,804,609 341,999 0.0% * G-Resources Group, Ltd. 125,535,000 3,068,628 0.0% Get Nice Holdings, Ltd. 86,182,000 3,943,959 0.1% * Global Brands Group Holding, Ltd. 1,738,000 382,935 0.0% Gold Peak Industries Holding, Ltd. 7,170,907 665,068 0.0% Golden Resources Development International, Ltd. 11,811,000 699,964 0.0% * Grande Holdings, Ltd. (The) 3,082,000 30,601 0.0% Great Eagle Holdings, Ltd. 3,044,159 10,246,927 0.1% Guangnan Holdings, Ltd. 1,370,000 224,424 0.0% * Hao Tian Development Group, Ltd. 8,466,000 545,860 0.0% # Harbour Centre Development, Ltd. 2,295,000 4,174,432 0.1% High Fashion International, Ltd. 996,000 382,832 0.0% # HKR International, Ltd. 17,343,998 8,383,748 0.1% # Hon Kwok Land Investment Co., Ltd. 7,798,935 2,716,813 0.0% Hong Fok Land, Ltd. 4,248,000 -- 0.0% # Hong Kong Ferry Holdings Co., Ltd. 1,791,000 2,050,538 0.0% * Hong Kong Television Network, Ltd. 802,000 319,621 0.0% Hongkong & Shanghai Hotels (The) 970,431 1,536,742 0.0% # Hongkong Chinese, Ltd. 23,995,100 5,667,972 0.1% Hopewell Holdings, Ltd. 2,987,000 10,619,529 0.1% # Hsin Chong Construction Group, Ltd. 3,864,000 478,313 0.0% Hung Hing Printing Group, Ltd. 8,545,275 1,245,579 0.0% * International Standard Resources Holdings, Ltd. 40,452,500 2,321,610 0.0% IPE Group, Ltd. 3,000,000 278,478 0.0% * IRC, Ltd. 11,804,000 913,860 0.0% ITC Corp., Ltd. 910,653 70,504 0.0% ITC Properties Group, Ltd. 1,081,242 544,223 0.0% Jinchang Pharmaceutical Holdings, Ltd. 507,600 -- 0.0% * Jinhui Holdings Co., Ltd. 1,108,000 198,601 0.0% # K Wah International Holdings, Ltd. 13,725,141 8,609,093 0.1% Kantone Holdings, Ltd. 33,383,975 412,434 0.0% Keck Seng Investments 2,936,000 2,610,129 0.0% * King Stone Energy Group, Ltd. 4,695,000 150,809 0.0% # Kingston Financial Group, Ltd. 11,569,424 1,372,650 0.0% Kowloon Development Co., Ltd. 9,589,277 11,463,277 0.1% Kwoon Chung Bus Holdings, Ltd. 150,000 74,373 0.0% * Lai Sun Development Co., Ltd. 326,203,666 8,365,669 0.1% * Lai Sun Garment International, Ltd. 40,954,960 6,133,852 0.1% Lam Soon Hong Kong, Ltd. 139,250 124,114 0.0% Lerado Group Holding Co., Ltd. 4,296,000 648,218 0.0% Lippo China Resources, Ltd. 13,074,000 607,175 0.0% Lippo, Ltd. 4,694,500 2,793,462 0.0% # Liu Chong Hing Investment, Ltd. 3,240,000 4,098,260 0.1% Luen Thai Holdings, Ltd. 594,000 121,112 0.0% Luks Group Vietnam Holdings Co., Ltd. 1,002,642 271,474 0.0% Magnificent Estates 39,120,600 1,866,130 0.0% Man Yue Technology Holdings, Ltd. 1,540,000 344,947 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- HONG KONG -- (Continued) Ming Fai International Holdings, Ltd. 338,000 $ 34,888 0.0% * Ming Fung Jewellery Group, Ltd. 2,970,000 32,978 0.0% Miramar Hotel & Investment 1,714,000 2,164,021 0.0% #* Mongolian Mining Corp. 6,158,000 556,182 0.0% Nanyang Holdings, Ltd. 101,350 512,529 0.0% National Electronic Hldgs 5,126,408 654,678 0.0% * Neo-Neon Holdings, Ltd. 7,654,000 1,233,139 0.0% * Neptune Group, Ltd. 59,080,000 1,341,604 0.0% New Century Group Hong Kong, Ltd. 648,000 12,043 0.0% * New Times Energy Corp., Ltd. 6,386,300 300,800 0.0% Next Media, Ltd. 2,326,000 222,153 0.0% * Orange Sky Golden Harvest Entertainment Holdings, Ltd. 10,075,000 793,440 0.0% Orient Overseas International, Ltd. 1,049,000 5,949,353 0.1% Orient Power Holdings, Ltd. 2,182,573 -- 0.0% Oriental Watch Holdings 1,682,000 375,718 0.0% Pacific Andes International Holdings, Ltd. 51,333,927 2,151,806 0.0% # Pacific Basin Shipping, Ltd. 12,225,000 5,851,480 0.1% Paliburg Holdings, Ltd. 11,753,041 3,849,844 0.0% * Ping Shan Tea Group, Ltd. 17,972,000 169,147 0.0% Playmates Holdings, Ltd. 3,153,700 3,377,988 0.0% Pokfulam Development Co. 268,000 425,131 0.0% Polytec Asset Holdings, Ltd. 45,099,190 6,580,446 0.1% Public Financial Holdings, Ltd. 858,444 409,964 0.0% PYI Corp., Ltd. 102,188,086 2,302,949 0.0% Regal Hotels International Holdings, Ltd. 9,200,623 5,611,108 0.1% * Richfield Group Holdings, Ltd. 2,544,000 91,833 0.0% Rivera Holdings, Ltd. 4,405,468 213,061 0.0% SEA Holdings, Ltd. 2,019,000 1,311,321 0.0% Shun Tak Holdings, Ltd. 47,834,546 24,370,863 0.2% Simsen International Corp., Ltd. 78,000 16,897 0.0% Sing Tao News Corp., Ltd. 334,000 47,417 0.0% Singamas Container Holdings, Ltd. 7,056,000 1,210,735 0.0% #* SOCAM Development, Ltd. 4,380,120 3,643,013 0.0% Soundwill Holdings, Ltd. 878,000 1,393,473 0.0% * South China China, Ltd. 10,649,216 1,002,869 0.0% * South China Land, Ltd. 13,991,066 214,744 0.0% # Sun Hung Kai & Co., Ltd. 3,469,688 2,579,140 0.0% * Symphony Holdings, Ltd. 2,362,249 201,144 0.0% TAI Cheung Holdings, Ltd. 4,638,000 3,823,095 0.0% Tai Sang Land Development, Ltd. 110,741 51,629 0.0% * Talent Property Group, Ltd. 1,665,000 17,603 0.0% # Tan Chong International, Ltd. 3,984,000 1,480,508 0.0% * Taung Gold International, Ltd. 3,750,000 100,620 0.0% Tern Properties Co., Ltd. 168,000 104,607 0.0% Tian Teck Land, Ltd. 786,000 900,639 0.0% Transport International Holdings, Ltd. 12,000 21,976 0.0% # Trinity, Ltd. 582,000 139,733 0.0% * Up Energy Development Group, Ltd. 1,236,000 137,112 0.0% Upbest Group, Ltd. 2,534,000 405,134 0.0% * Vedan International Holdings, Ltd. 4,352,000 241,436 0.0% Victory City International Holdings, Ltd. 25,975,316 3,719,041 0.0% VST Holdings, Ltd. 828,000 285,897 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- HONG KONG -- (Continued) * Willie International Holdings, Ltd. 200,000 $ 61,856 0.0% Win Hanverky Holdings, Ltd. 84,000 10,727 0.0% Wing On Co. International, Ltd. 2,756,500 8,003,146 0.1% Wing Tai Properties, Ltd. 1,588,749 1,034,730 0.0% Wong's International Hldgs 41,000 13,742 0.0% Yau Lee Holdings, Ltd. 1,409,750 307,503 0.0% Yugang International, Ltd. 18,896,000 275,803 0.0% --------------------- ------------------ TOTAL HONG KONG 300,028,695 2.6% --------------------- ------------------ IRELAND -- (0.4%) Aer Lingus Group P.L.C. 1,504,991 2,706,302 0.0% C&C Group P.L.C. 760,030 3,385,544 0.0% Dragon Oil P.L.C. 37,196 321,506 0.0% FBD Holdings P.L.C. 64,897 1,097,678 0.0% Smurfit Kappa Group P.L.C. 2,055,977 42,480,051 0.4% --------------------- ------------------ TOTAL IRELAND 49,991,081 0.4% --------------------- ------------------ ISRAEL -- (0.7%) #* Africa Israel Investments, Ltd. 3,026,773 4,866,789 0.1% * AL-ROV Israel, Ltd. 102,402 3,000,724 0.0% Albaad Massuot Yitzhak, Ltd. 4 57 0.0% #* Alon Blue Square Israel, Ltd. 167,270 459,052 0.0% * AudioCodes, Ltd. 9,886 46,238 0.0% * Azorim-Investment Development & Construction Co., Ltd. 138,177 108,063 0.0% #* Clal Biotechnology Industries, Ltd. 62,476 65,075 0.0% * Clal Insurance Enterprises Holdings, Ltd. 343,633 5,459,443 0.1% # Delta-Galil Industries, Ltd. 65,620 1,739,181 0.0% # Direct Insurance Financial Investments, Ltd. 98,055 631,454 0.0% * El Al Israel Airlines 1,640,647 228,794 0.0% # Elron Electronic Industries, Ltd. 227,875 1,032,452 0.0% * Equital, Ltd. 3,735 67,606 0.0% First International Bank Of Israel, Ltd. 567,415 7,990,812 0.1% Formula Systems 1985, Ltd. 144,340 3,632,327 0.0% #* Gilat Satellite Networks, Ltd. 485,775 2,432,772 0.0% #* Hadera Paper, Ltd. 6,561 219,355 0.0% Harel Insurance Investments & Financial Services, Ltd. 2,228,368 11,255,413 0.1% * Israel Discount Bank, Ltd. Class A 12,028,066 19,399,084 0.2% Israel Land Development Co., Ltd. (The) 39,194 162,372 0.0% * Jerusalem Oil Exploration 204,768 8,254,441 0.1% Meitav DS Investments, Ltd. 10,434 35,499 0.0% Menorah Mivtachim Holdings, Ltd. 254,619 2,744,341 0.0% Mivtach Shamir Holdings, Ltd. 193 5,428 0.0% Neto ME Holdings, Ltd. 1,339 64,858 0.0% * Oil Refineries, Ltd. 7,519,296 2,454,384 0.0% Ormat Industries 387,946 2,669,751 0.0% Paz Oil Co., Ltd. 226 31,941 0.0% Phoenix Holdings, Ltd. (The) 656,474 1,924,328 0.0% * Protalix BioTherapeutics, Inc. 27,063 60,366 0.0% Scope Metals Group, Ltd. 743 8,338 0.0% Shufersal, Ltd. 70,276 173,750 0.0% * Summit Real Estate Holdings, Ltd. 27,270 103,593 0.0% #* Tower Semiconductor, Ltd. 31,287 313,365 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- ISRAEL -- (Continued) * Union Bank of Israel 600,641 $ 2,310,050 0.0% --------------------- ------------------ TOTAL ISRAEL 83,951,496 0.7% --------------------- ------------------ ITALY -- (3.6%) * Aeffe SpA 99,325 254,217 0.0% Alerion Cleanpower SpA 18,320 63,464 0.0% #* Arnoldo Mondadori Editore SpA 53,979 44,515 0.0% #* Banca Carige SpA 3,897,893 327,139 0.0% Banca Finnat Euramerica SpA 210,745 114,792 0.0% * Banca Popolare dell'Emilia Romagna SC 9,396,426 71,701,123 0.6% #* Banca Popolare dell'Etruria e del Lazio 287,946 181,837 0.0% #* Banca Popolare di Milano Scarl 110,262,326 83,107,298 0.7% # Banca Popolare di Sondrio SCARL 1,592,563 6,391,674 0.1% Banco di Desio e della Brianza SpA 58,628 184,917 0.0% * Banco Popolare SC 7,116,853 103,381,009 0.9% #* Brioschi Sviluppo Immobiliare SpA 321,080 37,088 0.0% Buzzi Unicem SpA 1,109,008 15,005,931 0.1% * Caltagirone Editore SpA 713,490 907,997 0.0% Cementir Holding SpA 2,010,356 12,079,333 0.1% #* CIR-Compagnie Industriali Riunite SpA 5,292,150 5,307,715 0.1% Credito Emiliano SpA 185,599 1,430,157 0.0% #* Credito Valtellinese SC 17,363,354 17,979,239 0.2% # d'Amico International Shipping SA 1,062,902 481,625 0.0% Danieli & C Officine Meccaniche SpA 12,364 288,479 0.0% De' Longhi 826,931 16,183,685 0.1% * DeA Capital SpA 333,959 614,341 0.0% * Delclima 846,828 1,570,006 0.0% El.En. SpA 13,023 365,922 0.0% Elica SpA 11,560 23,161 0.0% ERG SpA 414,252 4,750,081 0.0% * Eurotech SpA 522,731 1,017,241 0.0% Falck Renewables SpA 1,254,606 1,590,243 0.0% * Finmeccanica SpA 229,774 2,076,331 0.0% FNM SpA 1,265,028 916,159 0.0% #* Gruppo Editoriale L'Espresso SpA 266,936 285,643 0.0% #* IMMSI SpA 2,937,881 1,806,722 0.0% #* Intek Group SpA 5,359,454 2,310,816 0.0% Irce SpA 7,197 16,047 0.0% # Italcementi SpA 3,094,275 17,721,475 0.2% Italmobiliare SpA 170,500 4,053,880 0.0% #* Prelios SpA 508,672 166,929 0.0% #* Reno de Medici SpA 1,533,762 535,559 0.0% #* Retelit SpA 921,056 682,955 0.0% #* Safilo Group SpA 530,390 7,191,352 0.1% Snia SpA 271,793 -- 0.0% # Societa Cattolica di Assicurazioni SCRL 93,677 1,450,862 0.0% Societa Iniziative Autostradali e Servizi SpA 32,320 323,838 0.0% SOL SpA 73,545 589,149 0.0% # Trevi Finanziaria Industriale SpA 85,597 307,805 0.0% Uni Land SpA 37,715 -- 0.0% Unione di Banche Italiane SCPA 1,024,349 8,044,718 0.1% Unipol Gruppo Finanziario SpA 5,874,555 28,418,352 0.3% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- ITALY -- (Continued) UnipolSai SpA 11,808,833 $ 31,750,854 0.3% # Vianini Lavori SpA 344,977 2,090,791 0.0% --------------------- ------------------ TOTAL ITALY 456,124,466 3.9% --------------------- ------------------ JAPAN -- (22.4%) A&D Co., Ltd. 172,700 816,197 0.0% Achilles Corp. 2,360,000 3,242,069 0.0% ADEKA Corp. 782,000 10,094,322 0.1% # Agro-Kanesho Co., Ltd. 47,900 389,519 0.0% Ahresty Corp. 532,100 2,984,285 0.0% Aichi Bank, Ltd. (The) 204,000 10,017,480 0.1% Aichi Corp. 182,000 896,188 0.0% Aichi Steel Corp. 1,805,000 6,491,696 0.1% Aichi Tokei Denki Co., Ltd. 20,000 57,423 0.0% # Aida Engineering, Ltd. 310,107 3,013,647 0.0% * Aigan Co., Ltd. 370,100 865,089 0.0% Airport Facilities Co., Ltd. 519,900 3,555,772 0.0% Aisan Industry Co., Ltd. 356,030 2,854,875 0.0% Aizawa Securities Co., Ltd. 63,574 321,113 0.0% Akita Bank, Ltd. (The) 4,527,000 12,865,513 0.1% # Alconix Corp. 105,500 1,397,950 0.0% # Alpen Co., Ltd. 353,200 5,451,730 0.1% Alpha Corp. 32,600 314,664 0.0% Alpha Systems, Inc. 45,960 607,344 0.0% Alpine Electronics, Inc. 450,800 7,694,912 0.1% Alps Logistics Co., Ltd. 37,600 421,803 0.0% AOI Electronic Co., Ltd. 36,700 1,731,208 0.0% AOI Pro, Inc. 4,700 29,094 0.0% AOKI Holdings, Inc. 233,222 2,615,885 0.0% Aomori Bank, Ltd. (The) 999,000 2,980,827 0.0% Aoyama Trading Co., Ltd. 1,425,299 33,900,682 0.3% Arakawa Chemical Industries, Ltd. 366,900 3,757,927 0.0% Arata Corp. 29,000 86,703 0.0% Araya Industrial Co., Ltd. 1,054,000 1,672,025 0.0% Arcland Sakamoto Co., Ltd. 41,500 925,165 0.0% Arisawa Manufacturing Co., Ltd. 625,382 4,587,629 0.1% Asahi Broadcasting Corp. 42,600 287,912 0.0% Asahi Kogyosha Co., Ltd. 508,000 1,786,979 0.0% Asahi Organic Chemicals Industry Co., Ltd. 1,658,000 3,866,851 0.0% #* Asanuma Corp. 593,000 933,988 0.0% #* Ashimori Industry Co., Ltd. 1,044,000 1,839,397 0.0% Asia Air Survey Co., Ltd. 18,000 80,956 0.0% ASKA Pharmaceutical Co., Ltd. 529,000 5,837,552 0.1% Asunaro Aoki Construction Co., Ltd. 672,500 4,750,785 0.1% Atsugi Co., Ltd. 5,231,000 5,366,756 0.1% Awa Bank, Ltd. (The) 924,000 5,540,876 0.1% Bando Chemical Industries, Ltd. 327,000 1,298,171 0.0% # Bank of Iwate, Ltd. (The) 356,700 16,324,598 0.2% Bank of Kochi, Ltd. (The) 335,000 431,531 0.0% Bank of Nagoya, Ltd. (The) 3,516,706 14,237,219 0.1% Bank of Okinawa, Ltd. (The) 162,550 7,120,827 0.1% Bank of Saga, Ltd. (The) 3,001,000 6,940,056 0.1% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- JAPAN -- (Continued) # Bank of the Ryukyus, Ltd. 936,200 $ 15,118,934 0.1% Belluna Co., Ltd. 1,242,824 5,557,823 0.1% Best Denki Co., Ltd. 1,733,700 2,106,533 0.0% Bunka Shutter Co., Ltd. 139,016 1,202,354 0.0% Carlit Holdings Co., Ltd. 97,800 512,564 0.0% Cawachi, Ltd. 376,500 5,853,811 0.1% Central Glass Co., Ltd. 3,883,000 12,694,107 0.1% Central Security Patrols Co., Ltd. 34,000 358,063 0.0% CFS Corp. 2,000 11,731 0.0% Chiba Kogyo Bank, Ltd. (The) 421,200 2,969,570 0.0% Chino Corp. 1,000 11,018 0.0% # Chiyoda Integre Co., Ltd. 101,600 1,751,650 0.0% Chodai Co., Ltd. 39,600 303,203 0.0% Chofu Seisakusho Co., Ltd. 249,200 7,512,943 0.1% # Chori Co., Ltd. 15,800 232,239 0.0% Chubu Shiryo Co., Ltd. 357,800 2,182,265 0.0% Chudenko Corp. 570,860 9,117,983 0.1% Chuetsu Pulp & Paper Co., Ltd. 2,276,000 3,687,796 0.0% Chugoku Marine Paints, Ltd. 730,000 5,769,001 0.1% Chukyo Bank, Ltd. (The) 1,781,000 3,279,317 0.0% # Chuo Gyorui Co., Ltd. 627,000 1,458,780 0.0% Chuo Spring Co., Ltd. 945,000 2,783,804 0.0% Cleanup Corp. 613,200 5,385,843 0.1% #* CMK Corp. 1,040,600 2,596,270 0.0% Coca-Cola East Japan Co., Ltd. 775,604 13,955,487 0.1% Coca-Cola West Co., Ltd. 65,400 933,606 0.0% Cocokara fine, Inc. 11,700 284,419 0.0% Computer Engineering & Consulting, Ltd. 239,900 2,264,914 0.0% Corona Corp. 391,500 4,075,201 0.0% Cosmo Oil Co., Ltd. 5,720,000 8,912,809 0.1% Cresco, Ltd. 31,500 410,117 0.0% # Cross Plus, Inc. 73,600 527,169 0.0% CTI Engineering Co., Ltd. 284,000 4,508,653 0.1% Dai-Dan Co., Ltd. 620,000 3,509,318 0.0% Dai-ichi Seiko Co., Ltd. 181,200 3,431,797 0.0% Daido Kogyo Co., Ltd. 717,447 1,745,761 0.0% # Daido Steel Co., Ltd. 19,000 72,889 0.0% #* Daiei, Inc. (The) 4,892,600 5,569,653 0.1% Daihatsu Diesel Manufacturing Co., Ltd. 144,000 1,183,222 0.0% # Daiho Corp. 1,103,000 5,130,132 0.1% Daiichi Jitsugyo Co., Ltd. 109,000 560,429 0.0% # Daiki Aluminium Industry Co., Ltd. 479,000 1,329,926 0.0% Daikoku Denki Co., Ltd. 67,500 1,110,894 0.0% Daimaruenawin Co., Ltd. 10,600 69,769 0.0% # Dainichi Co., Ltd. 272,700 1,904,133 0.0% Dainichiseika Color & Chemicals Manufacturing Co., Ltd. 301,000 1,632,629 0.0% Daisan Bank, Ltd. (The) 1,180,000 1,880,374 0.0% Daishi Bank, Ltd. (The) 4,698,932 16,627,899 0.2% # Daishinku Corp. 673,000 2,099,594 0.0% Daiso Co., Ltd. 7,000 22,830 0.0% Daito Bank, Ltd. (The) 3,704,000 4,879,157 0.1% Daiwa Industries, Ltd. 296,000 2,257,028 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- JAPAN -- (Continued) Daiwabo Holdings Co., Ltd. 2,111,000 $ 3,850,591 0.0% DBS Co Ltd 83,900 519,507 0.0% # DC Co., Ltd. 456,400 2,109,046 0.0% DCM Holdings Co., Ltd. 1,511,800 10,128,047 0.1% Denki Kagaku Kogyo K.K. 506,000 1,652,847 0.0% Denyo Co., Ltd. 146,200 1,938,538 0.0% # DKS Co., Ltd. 1,079,000 4,054,267 0.0% DMW Corp. 58,800 930,469 0.0% Doutor Nichires Holdings Co., Ltd. 35,000 521,406 0.0% # Duskin Co., Ltd. 5,800 94,981 0.0% Dydo Drinco, Inc. 41,000 1,756,943 0.0% Dynic Corp. 186,000 297,692 0.0% # EDION Corp. 2,571,700 18,348,390 0.2% # Ehime Bank, Ltd. (The) 2,665,000 5,899,216 0.1% Eidai Co., Ltd. 400,000 1,634,507 0.0% Eighteenth Bank, Ltd. (The) 3,963,000 11,226,770 0.1% Eizo Corp. 92,800 1,696,657 0.0% # Endo Lighting Corp. 21,000 236,872 0.0% ESPEC Corp. 510,400 4,700,715 0.1% # Excel Co., Ltd. 73,600 921,098 0.0% F-Tech, Inc. 59,000 638,801 0.0% Faith, Inc. 49,160 450,888 0.0% # FCC Co., Ltd. 54,100 920,719 0.0% * Feed One Holdings Co., Ltd. 16,000 15,384 0.0% Felissimo Corp. 6,200 62,111 0.0% # Ferrotec Corp. 772,100 4,209,039 0.0% # FIDEA Holdings Co., Ltd. 1,385,800 2,768,926 0.0% Fields Corp. 20,600 269,729 0.0% Fine Sinter Co., Ltd. 84,000 247,528 0.0% #* First Baking Co., Ltd. 82,000 99,514 0.0% Foster Electric Co., Ltd. 219,000 3,469,552 0.0% # Fuji Corp., Ltd. 3,100 17,627 0.0% Fuji Kiko Co., Ltd. 10,000 49,797 0.0% Fuji Oil Co., Ltd. 905,600 2,742,344 0.0% Fuji Soft, Inc. 41,700 1,032,321 0.0% Fujicco Co., Ltd. 323,600 4,827,840 0.1% Fujikura Kasei Co., Ltd. 295,200 1,527,853 0.0% # Fujikura Rubber, Ltd. 43,100 310,877 0.0% # Fujikura, Ltd. 9,669,000 40,615,669 0.4% Fujishoji Co., Ltd. 38,900 450,187 0.0% # Fujitsu Frontech, Ltd. 392,600 5,371,462 0.1% FuKoKu Co., Ltd. 84,200 932,650 0.0% Fukuda Corp. 450,000 4,738,342 0.1% Fukui Bank, Ltd. (The) 1,416,000 3,392,986 0.0% Fukushima Bank, Ltd. (The) 1,848,000 1,436,917 0.0% # Fukuyama Transporting Co., Ltd. 2,175,000 10,915,254 0.1% # Furukawa Electric Co., Ltd. 2,602,000 4,592,276 0.1% # Furuno Electric Co., Ltd. 184,400 1,514,373 0.0% Furusato Industries, Ltd. 95,500 1,440,918 0.0% Fuso Chemical Co., Ltd. 1,300 13,852 0.0% Fuso Pharmaceutical Industries, Ltd. 4,000 11,769 0.0% Futaba Corp. 841,100 11,916,385 0.1% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- JAPAN -- (Continued) Futaba Industrial Co., Ltd. 566,700 $ 3,159,650 0.0% # G-Tekt Corp. 164,900 1,644,770 0.0% # Gakken Holdings Co., Ltd. 883,000 2,004,599 0.0% Gecoss Corp. 362,100 6,004,998 0.1% # Geo Holdings Corp. 246,600 2,177,479 0.0% Godo Steel, Ltd. 3,863,000 5,363,498 0.1% Goldcrest Co., Ltd. 359,750 6,508,548 0.1% Gourmet Kineya Co., Ltd. 58,000 455,600 0.0% Grandy House Corp. 12,800 33,661 0.0% # GSI Creos Corp. 1,196,000 1,564,415 0.0% # Gun-Ei Chemical Industry Co., Ltd. 1,212,000 3,746,213 0.0% Gunze, Ltd. 5,180,000 14,416,153 0.1% # H-One Co., Ltd. 112,200 686,797 0.0% H2O Retailing Corp. 891,639 14,829,887 0.1% # Hagihara Industries, Inc. 35,600 519,508 0.0% Hakuto Co., Ltd. 363,800 3,575,767 0.0% Hamakyorex Co., Ltd. 6,700 215,163 0.0% Hanwa Co., Ltd. 2,201,000 7,936,011 0.1% # Happinet Corp. 16,900 289,876 0.0% Harima Chemicals Group, Inc. 399,200 1,702,397 0.0% Haruyama Trading Co., Ltd. 279,600 1,771,899 0.0% Heiwa Real Estate Co., Ltd. 507,200 8,333,719 0.1% Heiwado Co., Ltd. 331,724 6,175,344 0.1% HI-LEX Corp. 5,700 148,480 0.0% Hibiya Engineering, Ltd. 708,200 10,556,339 0.1% Higashi-Nippon Bank, Ltd. (The) 3,095,000 7,841,348 0.1% Higo Bank, Ltd. (The) 2,914,000 16,586,924 0.2% Hisaka Works, Ltd. 99,600 905,288 0.0% Hitachi Metals Techno, Ltd. 42,800 502,435 0.0% Hitachi Zosen Corp. 452,219 2,400,004 0.0% # Hodogaya Chemical Co., Ltd. 879,000 1,589,418 0.0% # Hokkaido Coca-Cola Bottling Co., Ltd. 466,000 2,177,549 0.0% Hokkan Holdings, Ltd. 1,001,000 2,566,503 0.0% Hokko Chemical Industry Co., Ltd. 429,000 1,448,009 0.0% Hokkoku Bank, Ltd. (The) 4,686,159 16,263,212 0.2% Hokuetsu Bank, Ltd. (The) 3,639,000 7,064,200 0.1% # Hokuetsu Kishu Paper Co., Ltd. 3,546,774 14,760,472 0.1% Hokuriku Electrical Construction Co., Ltd. 218,000 1,145,838 0.0% # Honeys Co., Ltd. 58,700 548,805 0.0% # Hoosiers Holdings Co., Ltd. 206,300 986,702 0.0% # Hosiden Corp. 1,428,300 7,743,208 0.1% House Foods Group, Inc. 7,600 130,053 0.0% Howa Machinery, Ltd. 36,800 245,162 0.0% # Hurxley Corp. 18,600 143,330 0.0% Hyakugo Bank, Ltd. (The) 4,419,855 18,639,573 0.2% Hyakujushi Bank, Ltd. (The) 3,003,000 9,762,505 0.1% Ichikawa Co., Ltd. 205,000 501,108 0.0% # Ichikoh Industries, Ltd. 139,000 318,256 0.0% # Ihara Chemical Industry Co., Ltd. 820,100 8,312,030 0.1% * IJT Technology Holdings Co., Ltd. 209,760 923,884 0.0% # Ikegami Tsushinki Co., Ltd. 480,000 528,922 0.0% Imagica Robot Holdings, Inc. 74,600 322,484 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- JAPAN -- (Continued) # Imasen Electric Industrial 214,099 $ 3,636,712 0.0% # Inaba Seisakusho Co., Ltd. 108,700 1,327,914 0.0% Inabata & Co., Ltd. 1,276,300 12,336,766 0.1% Ines Corp. 1,161,300 9,615,091 0.1% Information Services International-Dentsu, Ltd. 75,600 800,930 0.0% Innotech Corp. 290,400 1,394,325 0.0% # Inui Global Logistics Co., Ltd. 260,085 2,450,991 0.0% Ise Chemical Corp. 16,000 108,868 0.0% # Iseki & Co., Ltd. 440,000 1,019,126 0.0% #* Ishihara Sangyo Kaisha, Ltd. 3,415,000 2,806,731 0.0% # Ishizuka Glass Co., Ltd. 670,000 967,816 0.0% IT Holdings Corp. 629,700 10,288,901 0.1% Itochu Enex Co., Ltd. 962,100 6,163,746 0.1% Itochu-Shokuhin Co., Ltd. 16,800 554,813 0.0% Itoham Foods, Inc. 1,793,369 9,224,597 0.1% Itoki Corp. 745,247 4,188,912 0.0% # IwaiCosmo Holdings, Inc. 198,300 2,187,177 0.0% Iwaki & Co., Ltd. 814,000 1,719,188 0.0% Iwasaki Electric Co., Ltd. 1,105,000 2,436,525 0.0% Iwatsu Electric Co., Ltd. 2,258,000 1,825,606 0.0% * Izutsuya Co., Ltd. 568,000 323,852 0.0% # J-Oil Mills, Inc. 1,642,000 5,334,320 0.1% Japan Digital Laboratory Co., Ltd. 597,100 10,634,960 0.1% # Japan Foundation Engineering Co., Ltd. 523,700 1,872,610 0.0% # Japan Medical Dynamic Marketing, Inc. 447,400 2,101,664 0.0% Japan Oil Transportation Co., Ltd. 576,000 1,197,386 0.0% Japan Pulp & Paper Co., Ltd. 1,523,000 4,508,296 0.1% Japan Transcity Corp. 1,011,000 3,418,504 0.0% Japan Vilene Co., Ltd. 131,000 727,464 0.0% Japan Wool Textile Co., Ltd. (The) 4,000 27,066 0.0% # Jimoto Holdings, Inc. 165,100 346,663 0.0% JK Holdings Co., Ltd. 45,700 229,639 0.0% # JMS Co., Ltd. 779,000 2,065,372 0.0% Joshin Denki Co., Ltd. 12,000 109,332 0.0% JSP Corp. 10,100 160,144 0.0% Juroku Bank, Ltd. (The) 3,575,000 14,099,740 0.1% #* JVC Kenwood Corp. 3,240,900 6,196,080 0.1% # K&O Energy Group, Inc. 300,500 3,794,605 0.0% Kaga Electronics Co., Ltd. 289,800 3,338,218 0.0% Kagoshima Bank, Ltd. (The) 3,054,500 19,808,785 0.2% Kamei Corp. 785,700 5,629,406 0.1% Kanaden Corp. 476,000 3,345,714 0.0% Kandenko Co., Ltd. 2,066,000 10,840,291 0.1% Katakura Chikkarin Co., Ltd. 250,000 577,385 0.0% # Katakura Industries Co., Ltd. 45,700 552,820 0.0% Kato Sangyo Co., Ltd. 17,700 376,626 0.0% Kato Works Co., Ltd. 1,464,872 10,784,991 0.1% # KAWADA TECHNOLOGIES, Inc. 43,900 1,942,639 0.0% # Kawasaki Kasei Chemicals, Ltd. 332,000 458,994 0.0% Kawasumi Laboratories, Inc. 297,900 2,004,975 0.0% Keihanshin Building Co., Ltd. 349,100 1,965,919 0.0% Keihin Co., Ltd. 121,000 176,116 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- JAPAN -- (Continued) Keihin Corp. 572,000 $ 7,226,656 0.1% Keiyo Bank, Ltd. (The) 2,009,000 10,503,470 0.1% # Keiyo Co., Ltd. 30,200 137,558 0.0% # Kenko Mayonnaise Co., Ltd. 1,100 11,867 0.0% * KI Holdings Co., Ltd. 105,000 520,734 0.0% Kimoto Co., Ltd. 73,000 204,550 0.0% Kimura Unity Co., Ltd. 3,300 28,339 0.0% #* Kinki Sharyo Co., Ltd. (The) 425,000 1,132,288 0.0% Kita-Nippon Bank, Ltd. (The) 176,600 4,197,804 0.0% # Kitagawa Iron Works Co., Ltd. 1,065,000 1,901,325 0.0% Kitano Construction Corp. 731,000 2,261,968 0.0% Kito Corp. 1,700 19,505 0.0% Kiyo Bank, Ltd. (The) 62,700 901,496 0.0% Koa Corp. 324,989 2,882,628 0.0% Koatsu Gas Kogyo Co., Ltd. 16,000 85,120 0.0% # Kohnan Shoji Co., Ltd. 962,100 11,039,737 0.1% Koike Sanso Kogyo Co., Ltd. 8,000 20,239 0.0% Kojima Co., Ltd. 698,500 1,900,368 0.0% Kokuyo Co., Ltd. 2,026,811 16,142,996 0.2% KOMAIHALTEC, Inc. 1,065,000 2,584,910 0.0% Komatsu Seiren Co., Ltd. 778,000 3,898,648 0.0% Komatsu Wall Industry Co., Ltd. 147,100 3,507,458 0.0% Komori Corp. 1,463,200 14,390,667 0.1% Konaka Co., Ltd. 519,849 2,960,721 0.0% Konishi Co., Ltd. 241,800 4,173,365 0.0% Konoike Transport Co., Ltd. 6,300 123,321 0.0% Krosaki Harima Corp. 879,000 1,895,594 0.0% KRS Corp. 168,400 1,947,042 0.0% # KU Holdings Co., Ltd. 364,400 1,951,741 0.0% Kumiai Chemical Industry Co., Ltd. 217,519 1,337,786 0.0% Kurabo Industries, Ltd. 6,071,000 10,094,493 0.1% Kureha Corp. 724,000 3,590,775 0.0% Kurimoto, Ltd. 1,321,000 2,705,053 0.0% # Kuroda Electric Co., Ltd. 98,500 1,384,981 0.0% KYB Co., Ltd. 1,504,000 6,476,225 0.1% Kyodo Printing Co., Ltd. 2,065,000 7,327,327 0.1% Kyoei Sangyo Co., Ltd. 331,000 639,867 0.0% # Kyoei Steel, Ltd. 413,900 6,889,061 0.1% Kyokuto Boeki Kaisha, Ltd. 468,000 1,053,221 0.0% Kyokuto Kaihatsu Kogyo Co., Ltd. 858,150 12,201,615 0.1% Kyosan Electric Manufacturing Co., Ltd. 529,000 1,694,830 0.0% Kyowa Leather Cloth Co., Ltd. 375,300 2,696,395 0.0% Kyudenko Corp. 1,152,000 12,953,985 0.1% # Land Business Co., Ltd. 15,000 55,866 0.0% LEC, Inc. 163,100 1,684,982 0.0% #* Lonseal Corp. 306,000 421,964 0.0% Look, Inc. 535,000 1,136,966 0.0% # Macnica, Inc. 264,500 7,666,374 0.1% # Maeda Corp. 3,969,000 35,090,896 0.3% Maeda Road Construction Co., Ltd. 754,000 11,622,484 0.1% Maezawa Industries, Inc. 208,300 633,779 0.0% Maezawa Kasei Industries Co., Ltd. 227,500 2,333,249 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- JAPAN -- (Continued) Maezawa Kyuso Industries Co., Ltd. 153,700 $ 1,873,760 0.0% Mars Engineering Corp. 2,100 38,150 0.0% Marubun Corp. 449,300 2,877,670 0.0% Marudai Food Co., Ltd. 3,126,000 11,577,694 0.1% #* Maruei Department Store Co., Ltd. 204,400 263,747 0.0% # Maruetsu, Inc. (The) 189,000 921,990 0.0% Marufuji Sheet Piling Co., Ltd. 15,000 54,146 0.0% Maruka Machinery Co., Ltd. 10,400 124,672 0.0% Maruyama Manufacturing Co., Inc. 54,000 121,122 0.0% Maruzen Co., Ltd. 20,000 179,269 0.0% Maruzen Showa Unyu Co., Ltd. 1,491,000 4,754,738 0.1% Matsuda Sangyo Co., Ltd. 39,000 431,711 0.0% Matsui Construction Co., Ltd. 421,700 1,989,591 0.0% Maxvalu Tokai Co., Ltd. 63,800 912,626 0.0% Megmilk Snow Brand Co., Ltd. 320,600 4,253,745 0.1% Meiko Electronics Co., Ltd. 203,000 688,737 0.0% Meito Transportation Co., Ltd. 300 1,843 0.0% Meiwa Corp. 266,200 990,505 0.0% Meiwa Estate Co., Ltd. 396,600 1,876,737 0.0% # Melco Holdings, Inc. 19,600 280,869 0.0% Mesco, Inc. 22,000 150,659 0.0% # Michinoku Bank, Ltd. (The) 2,826,000 5,397,989 0.1% Mie Bank, Ltd. (The) 1,016,000 2,369,579 0.0% Mikuni Corp. 226,000 860,449 0.0% Mimasu Semiconductor Industry Co., Ltd. 338,600 3,046,247 0.0% Minato Bank, Ltd. (The) 1,324,000 2,610,531 0.0% # Ministop Co., Ltd. 125,100 1,781,111 0.0% Mirait Holdings Corp. 810,540 9,073,059 0.1% Mitani Corp. 64,800 1,643,735 0.0% Mito Securities Co., Ltd. 596,500 2,242,725 0.0% Mitsuba Corp. 183,200 2,915,893 0.0% * Mitsubishi Paper Mills, Ltd. 4,712,000 3,644,393 0.0% Mitsubishi Steel Manufacturing Co., Ltd. 2,589,000 5,722,353 0.1% Mitsuboshi Belting Co., Ltd. 37,000 265,023 0.0% Mitsui Engineering & Shipbuilding Co., Ltd. 8,997,000 19,559,182 0.2% Mitsui High-Tec, Inc. 620,100 3,716,492 0.0% Mitsui Home Co., Ltd. 20,000 87,622 0.0% # Mitsui Matsushima Co., Ltd. 1,737,000 2,107,624 0.0% Mitsui Mining & Smelting Co., Ltd. 590,000 1,565,020 0.0% Mitsui Sugar Co., Ltd. 267,000 926,146 0.0% Mitsui-Soko Co., Ltd. 678,000 2,577,610 0.0% Mitsumi Electric Co., Ltd. 2,438,000 15,176,469 0.1% Mitsumura Printing Co., Ltd. 111,000 257,713 0.0% # Mitsuuroko Group Holdings Co., Ltd. 798,600 3,901,142 0.0% Miyazaki Bank, Ltd. (The) 3,627,260 10,934,397 0.1% Miyoshi Oil & Fat Co., Ltd. 1,197,000 1,487,198 0.0% # Mizuno Corp. 734,395 3,679,460 0.0% Morinaga Milk Industry Co., Ltd. 2,302,000 7,696,964 0.1% Morozoff, Ltd. 103,000 334,346 0.0% Mory Industries, Inc. 672,000 2,574,773 0.0% Mr Max Corp. 635,600 1,763,320 0.0% Murakami Corp. 22,000 289,847 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- JAPAN -- (Continued) Musashino Bank, Ltd. (The) 557,300 $ 18,883,102 0.2% Mutoh Holdings Co., Ltd. 11,000 52,701 0.0% Nafco Co., Ltd. 27,200 368,122 0.0% Nagano Bank, Ltd. (The) 1,747,000 2,966,209 0.0% Nagase & Co., Ltd. 388,400 5,030,854 0.1% Nakabayashi Co., Ltd. 972,000 1,806,763 0.0% * Nakayama Steel Works, Ltd. 1,756,000 1,267,358 0.0% # Namura Shipbuilding Co., Ltd. 392,152 3,838,279 0.0% # Nanto Bank, Ltd. (The) 1,380,000 5,540,031 0.1% # Narasaki Sangyo Co., Ltd. 78,000 211,691 0.0% NDS Co., Ltd. 874,000 2,452,552 0.0% NEC Capital Solutions, Ltd. 189,500 3,585,412 0.0% # Neturen Co., Ltd. 566,100 4,050,013 0.0% #* New Japan Chemical Co., Ltd. 6,100 12,604 0.0% Nice Holdings, Inc. 1,717,000 3,268,988 0.0% # Nichia Steel Works, Ltd. 882,200 2,671,867 0.0% Nichiban Co., Ltd. 627,000 2,191,185 0.0% # Nichicon Corp. 654,800 4,415,466 0.1% Nichiden Corp. 7,700 164,037 0.0% Nichiha Corp. 158,300 1,356,315 0.0% Nichimo Co., Ltd. 863,000 1,450,968 0.0% Nichireki Co., Ltd. 539,000 4,274,389 0.1% # Nihon Dempa Kogyo Co., Ltd. 222,400 1,757,716 0.0% Nihon Eslead Corp. 75,100 687,345 0.0% Nihon Kagaku Sangyo Co., Ltd. 21,000 140,949 0.0% # Nihon Plast Co., Ltd. 3,100 21,764 0.0% Nihon Tokushu Toryo Co., Ltd. 105,200 660,626 0.0% Nihon Yamamura Glass Co., Ltd. 2,461,000 3,722,085 0.0% # Nikko Co., Ltd. 592,000 2,260,851 0.0% Nippo Corp. 1,030,000 18,827,052 0.2% Nippon Beet Sugar Manufacturing Co., Ltd. 3,280,000 5,517,280 0.1% # Nippon Carbon Co., Ltd. 1,257,000 2,110,639 0.0% * Nippon Chemi-Con Corp. 2,101,000 6,267,983 0.1% * Nippon Chemical Industrial Co., Ltd. 2,525,000 3,720,763 0.0% # Nippon Chutetsukan K.K. 481,000 1,060,564 0.0% Nippon Coke & Engineering Co., Ltd. 571,500 570,207 0.0% # Nippon Concrete Industries Co., Ltd. 1,028,900 6,153,239 0.1% Nippon Denko Co., Ltd. 2,742,360 6,888,091 0.1% Nippon Densetsu Kogyo Co., Ltd. 293,000 4,138,450 0.0% Nippon Felt Co., Ltd. 73,100 311,375 0.0% Nippon Fine Chemical Co., Ltd. 216,100 1,664,752 0.0% Nippon Flour Mills Co., Ltd. 1,599,000 8,025,889 0.1% Nippon Hume Corp. 582,000 4,649,205 0.1% Nippon Jogesuido Sekkei Co., Ltd. 1,800 22,686 0.0% #* Nippon Kinzoku Co., Ltd. 771,000 1,070,239 0.0% # Nippon Kodoshi Corp. 700 7,758 0.0% Nippon Koei Co., Ltd. 1,423,000 6,016,283 0.1% Nippon Konpo Unyu Soko Co., Ltd. 1,221,000 20,202,305 0.2% * Nippon Koshuha Steel Co., Ltd. 192,000 196,547 0.0% Nippon Light Metal Holdings Co., Ltd. 7,539,300 11,134,779 0.1% Nippon Paper Industries Co., Ltd. 34,500 507,739 0.0% Nippon Pillar Packing Co., Ltd. 306,400 2,433,377 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- JAPAN -- (Continued) Nippon Piston Ring Co., Ltd. 1,253,000 $ 2,678,045 0.0% # Nippon Rietec Co., Ltd. 47,000 333,690 0.0% Nippon Road Co., Ltd. (The) 2,090,000 11,619,886 0.1% Nippon Seiki Co., Ltd. 40,000 852,124 0.0% Nippon Seisen Co., Ltd. 204,000 1,314,495 0.0% * Nippon Sheet Glass Co., Ltd. 19,745,000 18,929,204 0.2% Nippon Signal Co., Ltd. (The) 2,100 20,470 0.0% Nippon Soda Co., Ltd. 2,171,000 12,362,716 0.1% Nippon Steel & Sumikin Bussan Corp. 1,836,800 6,683,973 0.1% Nippon Steel & Sumikin Texeng Co., Ltd. 857,000 4,470,757 0.1% Nippon Systemware Co., Ltd. 198,500 1,164,894 0.0% # Nippon Thompson Co., Ltd. 1,046,000 4,383,992 0.1% Nippon Tungsten Co., Ltd. 172,000 296,356 0.0% #* Nippon Yakin Kogyo Co., Ltd. 4,755,100 12,280,506 0.1% Nishikawa Rubber Co., Ltd. 4,800 82,914 0.0% Nishimatsu Construction Co., Ltd. 6,561,073 31,856,474 0.3% Nissan Tokyo Sales Holdings Co., Ltd. 22,700 57,303 0.0% Nissei Corp. 1,200 10,305 0.0% Nissei Plastic Industrial Co., Ltd. 179,100 1,429,969 0.0% # Nisshin Fudosan Co. 1,034,200 4,567,592 0.1% # Nisshin Oillio Group, Ltd. (The) 2,450,000 8,780,326 0.1% # Nisshin Steel Co., Ltd. 966,100 9,020,490 0.1% Nisshinbo Holdings, Inc. 1,651,000 13,634,706 0.1% Nissin Corp. 687,000 1,722,393 0.0% # Nissin Electric Co., Ltd. 132,000 714,305 0.0% Nissin Sugar Co., Ltd. 127,500 2,662,599 0.0% # Nissui Pharmaceutical Co., Ltd. 180,500 2,040,287 0.0% Nittan Valve Co., Ltd. 177,800 506,096 0.0% Nittetsu Mining Co., Ltd. 1,951,000 7,396,251 0.1% # Nitto FC Co., Ltd. 243,100 1,411,048 0.0% Nitto Fuji Flour Milling Co., Ltd. 370,000 1,037,546 0.0% Nitto Seiko Co., Ltd. 246,000 824,725 0.0% Nohmi Bosai, Ltd. 115,900 1,655,206 0.0% Nojima Corp. 124,500 713,406 0.0% Noritake Co., Ltd. 1,030,000 2,368,258 0.0% # Noritsu Koki Co., Ltd. 518,300 2,880,693 0.0% Noritz Corp. 36,400 672,948 0.0% North Pacific Bank, Ltd. 3,994,100 16,465,659 0.2% # NS United Kaiun Kaisha, Ltd. 2,386,000 5,954,904 0.1% Obayashi Road Corp. 815,000 5,824,710 0.1% Oenon Holdings, Inc. 51,000 106,496 0.0% Ogaki Kyoritsu Bank, Ltd. (The) 4,427,000 12,316,631 0.1% #* Ohara, Inc. 112,200 581,157 0.0% Ohashi Technica, Inc. 10,600 121,466 0.0% OIE Sangyo Co., Ltd. 6,213 46,659 0.0% Oita Bank, Ltd. (The) 3,992,000 14,958,632 0.1% Okamoto Industries, Inc. 22,000 87,397 0.0% OKK Corp. 1,876,000 2,642,118 0.0% Okumura Corp. 2,674,000 15,180,692 0.1% Okura Industrial Co., Ltd. 1,155,000 3,941,770 0.0% Okuwa Co., Ltd. 214,000 1,776,748 0.0% Olympic Group Corp. 372,700 3,419,171 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- JAPAN -- (Continued) ONO Sokki Co., Ltd. 23,900 $ 204,895 0.0% # Onoken Co., Ltd. 347,300 3,572,762 0.0% # Onward Holdings Co., Ltd. 1,053,000 6,470,464 0.1% Organo Corp. 294,000 1,261,693 0.0% # Origin Electric Co., Ltd. 180,000 681,692 0.0% Osaka Organic Chemical Industry, Ltd. 140,700 608,787 0.0% Osaka Steel Co., Ltd. 571,100 10,249,140 0.1% # Osaki Electric Co., Ltd. 384,000 2,329,992 0.0% Otsuka Kagu, Ltd. 74,900 776,068 0.0% OUG Holdings, Inc. 28,000 58,477 0.0% Oyo Corp. 415,300 7,362,546 0.1% Pacific Industrial Co., Ltd. 1,172,400 8,883,869 0.1% * Pacific Metals Co., Ltd. 1,414,000 4,473,352 0.1% Paltac Corp. 422,100 5,143,432 0.1% Panasonic Industrial Devices SUNX Co., Ltd. 2,300 12,376 0.0% Parco Co., Ltd. 219,100 1,783,094 0.0% Paris Miki Holdings, Inc. 15,300 68,009 0.0% Piolax, Inc. 280,200 12,397,005 0.1% # Press Kogyo Co., Ltd. 1,274,000 5,089,271 0.1% #* Renesas Electronics Corp. 18,300 142,801 0.0% # Rengo Co., Ltd. 2,355,000 10,366,835 0.1% #* Renown, Inc. 1,406,160 1,413,664 0.0% Rheon Automatic Machinery Co., Ltd. 301,000 1,391,465 0.0% Rhythm Watch Co., Ltd. 2,990,000 4,174,553 0.0% Riberesute Corp. 9,800 59,388 0.0% # Ricoh Leasing Co., Ltd. 274,700 7,664,161 0.1% # Right On Co., Ltd. 206,900 1,349,539 0.0% Riken Corp. 332,000 1,301,892 0.0% Riken Keiki Co., Ltd. 158,900 1,599,397 0.0% Riken Technos Corp. 940,000 4,150,863 0.0% Riken Vitamin Co., Ltd. 9,700 223,929 0.0% Riso Kagaku Corp. 259,682 7,852,610 0.1% Round One Corp. 1,736,200 10,474,416 0.1% Ryobi, Ltd. 1,718,000 4,689,097 0.1% Ryoden Trading Co., Ltd. 858,000 6,171,468 0.1% Ryosan Co., Ltd. 742,300 15,690,126 0.1% Ryoyo Electro Corp. 768,300 7,574,342 0.1% Sakai Chemical Industry Co., Ltd. 2,362,000 7,115,820 0.1% Sakai Heavy Industries, Ltd. 438,000 1,130,625 0.0% Sakai Moving Service Co., Ltd. 1,700 54,249 0.0% # Sakai Ovex Co., Ltd. 9,000 13,011 0.0% Sakata Seed Corp. 28,400 421,190 0.0% Sala Corp. 240,200 1,321,655 0.0% # SAMTY Co., Ltd. 33,700 225,134 0.0% San Holdings, Inc. 75,000 1,052,975 0.0% San-Ai Oil Co., Ltd. 1,333,000 9,227,139 0.1% San-In Godo Bank, Ltd. (The) 4,385,900 33,792,196 0.3% Sanei Architecture Planning Co., Ltd. 1,300 10,551 0.0% Sangetsu Co., Ltd. 24,500 620,428 0.0% Sanki Engineering Co., Ltd. 1,629,800 11,386,808 0.1% Sankyo Seiko Co., Ltd. 505,700 1,879,767 0.0% Sankyo Tateyama, Inc. 51,000 914,234 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- JAPAN -- (Continued) Sanoh Industrial Co., Ltd. 298,500 $ 1,942,065 0.0% Sansha Electric Manufacturing Co., Ltd. 15,000 64,929 0.0% Sanshin Electronics Co., Ltd. 747,000 5,290,028 0.1% Sanyo Chemical Industries, Ltd. 426,000 2,656,203 0.0% Sanyo Engineering & Construction, Inc. 195,000 796,670 0.0% # Sanyo Industries, Ltd. 707,000 1,276,613 0.0% Sanyo Shokai, Ltd. 1,317,628 3,201,036 0.0% Sanyo Special Steel Co., Ltd. 1,752,000 6,013,049 0.1% Sato Shoji Corp. 179,200 1,165,520 0.0% Satori Electric Co., Ltd. 286,460 1,860,670 0.0% Sawada Holdings Co., Ltd. 11,900 84,977 0.0% Saxa Holdings, Inc. 1,310,000 1,856,916 0.0% SBS Holdings, Inc. 148,400 1,292,024 0.0% # Scroll Corp. 699,600 1,603,381 0.0% SEC Carbon, Ltd. 1,000 2,743 0.0% Seibu Electric Industry Co., Ltd. 322,000 1,395,539 0.0% Seika Corp. 91,000 217,237 0.0% Seino Holdings Co., Ltd. 2,307,119 18,089,673 0.2% Seiren Co., Ltd. 1,600 13,972 0.0% Sekisui Jushi Corp. 516,800 7,042,993 0.1% Sekisui Plastics Co., Ltd. 1,319,000 3,576,187 0.0% # Senko Co., Ltd. 996,680 4,239,266 0.1% # Senshu Electric Co., Ltd. 64,600 974,752 0.0% Senshu Ikeda Holdings, Inc. 629,000 3,254,056 0.0% # Senshukai Co., Ltd. 332,100 2,665,627 0.0% # Shibaura Mechatronics Corp. 200,000 641,626 0.0% Shibusawa Warehouse Co., Ltd. (The) 192,000 641,122 0.0% Shibuya Kogyo Co., Ltd. 43,100 1,075,174 0.0% Shidax Corp. 4,300 19,188 0.0% Shiga Bank, Ltd. (The) 730,000 4,088,545 0.0% # Shikibo, Ltd. 3,435,000 3,758,998 0.0% Shikoku Bank, Ltd. (The) 2,108,000 4,473,906 0.1% Shikoku Chemicals Corp. 2,000 13,863 0.0% Shima Seiki Manufacturing, Ltd. 51,200 824,852 0.0% Shimachu Co., Ltd. 1,002,400 25,808,055 0.2% Shimane Bank, Ltd. (The) 8,900 109,408 0.0% Shimizu Bank, Ltd. (The) 195,700 5,609,864 0.1% Shin Nippon Air Technologies Co., Ltd. 340,920 2,775,997 0.0% Shin-Etsu Polymer Co., Ltd. 668,400 3,127,554 0.0% Shinagawa Refractories Co., Ltd. 1,192,000 2,934,632 0.0% #* Shinkawa, Ltd. 206,200 1,031,306 0.0% Shinko Electric Industries Co., Ltd. 767,800 4,458,524 0.1% Shinko Shoji Co., Ltd. 523,100 4,959,700 0.1% # Shinko Wire Co., Ltd. 543,000 848,586 0.0% Shinmaywa Industries, Ltd. 2,777,000 24,940,453 0.2% # Shinnihon Corp. 603,400 2,117,997 0.0% Shinsho Corp. 541,000 1,342,032 0.0% Shiroki Corp. 598,000 1,209,024 0.0% Shizuoka Gas Co., Ltd. 117,300 768,559 0.0% Shobunsha Publications, Inc. 100,000 707,844 0.0% # Shoei Foods Corp. 185,400 1,447,538 0.0% Shofu, Inc. 3,500 40,015 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- JAPAN -- (Continued) Showa Corp. 346,400 $ 3,747,162 0.0% Sinanen Co., Ltd. 928,000 3,658,832 0.0% Sintokogio, Ltd. 848,762 5,895,109 0.1% SKY Perfect JSAT Holdings, Inc. 312,200 1,916,532 0.0% SNT Corp. 635,600 3,241,879 0.0% Soda Nikka Co., Ltd. 328,000 1,372,506 0.0% Sodick Co., Ltd. 290,900 2,352,043 0.0% # Soft99 Corp. 52,300 304,574 0.0% SPK Corp. 2,018 35,073 0.0% Starzen Co., Ltd. 20,000 58,142 0.0% Stella Chemifa Corp. 37,500 468,092 0.0% Subaru Enterprise Co., Ltd. 247,000 966,838 0.0% Sugimoto & Co., Ltd. 114,300 1,159,393 0.0% Suminoe Textile Co., Ltd. 1,443,000 3,951,274 0.0% Sumitomo Bakelite Co., Ltd. 2,179,000 8,575,288 0.1% Sumitomo Densetsu Co., Ltd. 183,700 2,271,469 0.0% # Sumitomo Precision Products Co., Ltd. 401,000 1,561,282 0.0% # Sumitomo Riko Co., Ltd. 468,800 4,029,075 0.0% Sumitomo Seika Chemicals Co., Ltd. 65,000 398,752 0.0% Sumitomo Warehouse Co., Ltd. (The) 1,559,000 8,549,901 0.1% Sun-Wa Technos Corp. 54,200 557,605 0.0% Suncall Corp. 9,000 52,413 0.0% #* SWCC Showa Holdings Co., Ltd. 6,772,000 6,273,192 0.1% T RAD Co., Ltd. 927,000 2,182,389 0.0% # T&K Toka Co., Ltd. 21,800 487,224 0.0% Tachi-S Co., Ltd. 50,900 645,403 0.0% Tachibana Eletech Co., Ltd. 270,600 3,467,646 0.0% # Tachikawa Corp. 188,400 1,116,002 0.0% Taihei Dengyo Kaisha, Ltd. 851,000 6,947,301 0.1% # Taiheiyo Kouhatsu, Inc. 2,081,000 1,745,262 0.0% Taiho Kogyo Co., Ltd. 465,900 4,766,648 0.1% Taiko Bank, Ltd. (The) 248,000 503,699 0.0% Takachiho Koheki Co., Ltd. 400 3,745 0.0% # Takagi Securities Co., Ltd. 505,000 1,169,704 0.0% Takamatsu Construction Group Co., Ltd. 37,900 727,028 0.0% Takano Co., Ltd. 288,400 1,576,182 0.0% # Takaoka Toko Co., Ltd. 37,244 539,760 0.0% Takara Standard Co., Ltd. 926,105 7,562,982 0.1% Takasago International Corp. 141,000 674,779 0.0% # Takasago Thermal Engineering Co., Ltd. 424,500 5,478,677 0.1% # Take And Give Needs Co., Ltd. 155,890 1,642,224 0.0% # Takigami Steel Construction Co., Ltd. (The) 194,000 819,337 0.0% Takihyo Co., Ltd. 17,000 62,725 0.0% Takiron Co., Ltd. 1,128,000 5,594,119 0.1% Tamura Corp. 1,204,948 4,541,745 0.1% # Tayca Corp. 831,000 3,305,461 0.0% TBK Co., Ltd. 575,000 3,495,195 0.0% TECHNO ASSOCIE Co., Ltd. 171,900 1,642,790 0.0% Techno Ryowa, Ltd. 229,770 1,011,714 0.0% Teikoku Tsushin Kogyo Co., Ltd. 801,000 1,276,444 0.0% # Tekken Corp. 883,000 3,839,357 0.0% * Ten Allied Co., Ltd. 109,700 339,599 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- JAPAN -- (Continued) Tenma Corp. 573,900 $ 7,987,313 0.1% Teraoka Seisakusho Co., Ltd. 169,100 574,768 0.0% Tigers Polymer Corp. 311,600 1,905,763 0.0% Toa Corp. 5,949,000 10,935,864 0.1% # Toa Oil Co., Ltd. 772,000 1,092,662 0.0% TOA ROAD Corp. 890,000 3,233,197 0.0% Toabo Corp. 1,322,000 895,679 0.0% Toagosei Co., Ltd. 837,000 3,658,048 0.0% Tochigi Bank, Ltd. (The) 2,896,000 11,771,825 0.1% Toda Corp. 4,709,000 20,822,996 0.2% #* Toda Kogyo Corp. 186,000 682,354 0.0% Toei Co., Ltd. 635,000 3,350,597 0.0% Toenec Corp. 1,102,000 5,865,858 0.1% Toho Bank, Ltd. (The) 4,605,000 16,936,685 0.2% Toho Zinc Co., Ltd. 989,000 3,387,182 0.0% Tohoku Bank, Ltd. (The) 1,566,000 2,198,497 0.0% Tohokushinsha Film Corp. 6,400 47,697 0.0% # Tohto Suisan Co., Ltd. 837,000 1,458,095 0.0% # Tokai Carbon Co., Ltd. 2,790,000 7,277,868 0.1% Tokai Lease Co., Ltd. 672,000 1,198,804 0.0% Tokushu Tokai Paper Co., Ltd. 1,645,220 3,831,680 0.0% # Tokuyama Corp. 10,164,000 29,710,439 0.3% # Tokyo Electron Device, Ltd. 85,200 1,106,891 0.0% Tokyo Energy & Systems, Inc. 639,000 4,496,864 0.1% # Tokyo Keiki, Inc. 163,000 404,561 0.0% #* Tokyo Kikai Seisakusho, Ltd. 77,000 55,687 0.0% Tokyo Ohka Kogyo Co., Ltd. 253,900 7,160,883 0.1% Tokyo Sangyo Co., Ltd. 534,300 2,080,115 0.0% # Tokyo Steel Manufacturing Co., Ltd. 2,950,900 15,829,798 0.1% Tokyo Tekko Co., Ltd. 1,215,000 5,585,480 0.1% * Tokyo TY Financial Group, Inc. 460,857 14,749,886 0.1% # Tokyu Recreation Co., Ltd. 256,328 1,519,449 0.0% Toli Corp. 1,034,000 2,222,542 0.0% Tomato Bank, Ltd. 1,323,000 2,152,581 0.0% Tomen Devices Corp. 500 7,950 0.0% # Tomen Electronics Corp. 276,500 4,078,381 0.0% Tomoe Corp. 895,900 3,485,191 0.0% Tomoe Engineering Co., Ltd. 30,100 473,957 0.0% Tomoku Co., Ltd. 1,412,000 3,672,223 0.0% TOMONY Holdings, Inc. 3,329,800 14,854,902 0.1% # Tomy Co., Ltd. 149,800 774,910 0.0% Tonami Holdings Co., Ltd. 1,540,000 3,286,185 0.0% Toppan Forms Co., Ltd. 764,800 7,213,147 0.1% Topre Corp. 363,200 5,143,044 0.1% Topy Industries, Ltd. 4,252,000 8,220,759 0.1% Torii Pharmaceutical Co., Ltd. 283,100 8,123,840 0.1% # Tosho Printing Co., Ltd. 777,000 2,606,299 0.0% Totetsu Kogyo Co., Ltd. 30,830 698,392 0.0% Tottori Bank, Ltd. (The) 1,075,000 2,121,009 0.0% Towa Bank, Ltd. (The) 3,410,000 3,050,927 0.0% Towa Corp. 47,100 271,929 0.0% # Toyo Denki Seizo - Toyo Electric Manufacturing Co., Ltd. 25,000 89,998 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- JAPAN -- (Continued) Toyo Ink SC Holdings Co., Ltd. 2,174,000 $ 10,027,540 0.1% Toyo Kohan Co., Ltd. 2,110,000 12,180,591 0.1% Toyo Machinery & Metal Co., Ltd. 14,400 57,489 0.0% # Toyo Securities Co., Ltd. 624,000 1,777,618 0.0% # Toyo Tanso Co., Ltd. 35,800 663,028 0.0% Toyo Wharf & Warehouse Co., Ltd. 1,006,000 1,923,761 0.0% Trusco Nakayama Corp. 174,339 4,675,714 0.1% TSI Holdings Co., Ltd. 2,327,220 14,794,859 0.1% Tsubakimoto Kogyo Co., Ltd. 51,000 138,838 0.0% #* Tsudakoma Corp. 1,043,000 1,402,708 0.0% # Tsukishima Kikai Co., Ltd. 391,000 4,388,739 0.1% Tsukuba Bank, Ltd. 1,196,767 4,101,563 0.0% Tsurumi Manufacturing Co., Ltd. 314,000 5,202,694 0.1% Tsutsumi Jewelry Co., Ltd. 263,900 6,491,009 0.1% # TTK Co., Ltd. 136,000 550,065 0.0% Tv Tokyo Holdings Corp. 110,100 2,219,798 0.0% TYK Corp. 690,000 1,258,652 0.0% # U-Shin, Ltd. 655,400 4,191,519 0.0% # Ube Industries, Ltd. 324,200 501,964 0.0% Uchida Yoko Co., Ltd. 1,419,000 4,543,302 0.1% Ueki Corp. 177,000 428,406 0.0% UKC Holdings Corp. 157,600 2,564,307 0.0% #* Ulvac, Inc. 369,100 4,596,225 0.1% Uniden Corp. 1,332,000 2,751,920 0.0% Unipres Corp. 113,600 2,260,621 0.0% # Universal Entertainment Corp. 89,600 1,418,672 0.0% # UNY Group Holdings Co., Ltd. 2,696,700 14,296,369 0.1% Ushio, Inc. 109,800 1,152,323 0.0% Utoc Corp. 32,900 150,074 0.0% Valor Co., Ltd. 29,300 474,940 0.0% # Village Vanguard Co., Ltd. 16,400 213,934 0.0% Vital KSK Holdings, Inc. 258,015 2,200,469 0.0% Wacoal Holdings Corp. 820,000 8,539,263 0.1% Wakita & Co., Ltd. 338,100 3,378,481 0.0% Warabeya Nichiyo Co., Ltd. 175,400 3,075,721 0.0% * Watabe Wedding Corp. 53,100 267,887 0.0% Wood One Co., Ltd. 602,000 1,545,141 0.0% Xebio Co., Ltd. 137,900 2,157,995 0.0% Y A C Co., Ltd. 78,800 420,774 0.0% # Yachiyo Industry Co., Ltd. 14,900 100,464 0.0% Yaizu Suisankagaku Industry Co., Ltd. 22,700 201,957 0.0% YAMABIKO Corp. 111,674 4,423,264 0.1% # Yamagata Bank, Ltd. (The) 2,044,000 9,678,687 0.1% # Yamaichi Electronics Co., Ltd. 122,500 947,619 0.0% Yamanashi Chuo Bank, Ltd. (The) 3,335,000 15,084,439 0.1% Yamatane Corp. 1,009,000 1,558,129 0.0% Yamato Corp. 336,000 1,229,926 0.0% Yamato International, Inc. 11,200 39,684 0.0% Yamaura Corp. 16,500 60,092 0.0% # Yamaya Corp. 30,300 434,357 0.0% Yamazawa Co., Ltd. 2,200 31,591 0.0% Yashima Denki Co., Ltd. 17,300 84,270 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- JAPAN -- (Continued) Yasuda Logistics Corp. 193,300 $ 1,737,917 0.0% Yellow Hat, Ltd. 200,900 4,300,340 0.1% Yodogawa Steel Works, Ltd. 3,721,000 14,559,863 0.1% Yokogawa Bridge Holdings Corp. 615,000 7,906,586 0.1% # Yokohama Reito Co., Ltd. 1,179,900 8,748,609 0.1% Yokowo Co., Ltd. 46,300 242,263 0.0% Yondenko Corp. 443,650 1,608,904 0.0% Yonekyu Corp. 6,200 87,186 0.0% # Yonex Co., Ltd. 155,400 1,383,517 0.0% Yorozu Corp. 166,300 2,861,594 0.0% Yotai Refractories Co., Ltd. 4,000 13,599 0.0% Yuasa Funashoku Co., Ltd. 581,000 1,430,234 0.0% Yuken Kogyo Co., Ltd. 234,000 519,025 0.0% Yurtec Corp. 1,055,000 5,866,755 0.1% # Yusen Logistics Co., Ltd. 217,900 2,197,814 0.0% Yushiro Chemical Industry Co., Ltd. 60,700 764,904 0.0% Yutaka Giken Co., Ltd. 1,700 36,689 0.0% Zojirushi Corp. 5,000 31,278 0.0% # Zuken, Inc. 20,200 179,023 0.0% --------------------- ------------------ TOTAL JAPAN 2,836,116,148 24.3% --------------------- ------------------ NETHERLANDS -- (2.0%) Accell Group 20,675 329,859 0.0% #* APERAM 1,753,419 50,449,201 0.4% ASM International NV 661,662 26,514,590 0.2% #* Ballast Nedam NV 6,156 19,469 0.0% BE Semiconductor Industries NV 821,028 15,638,350 0.1% BinckBank NV 574,421 5,692,899 0.1% Corbion NV 420,669 6,801,076 0.1% Delta Lloyd NV 2,460,680 56,086,880 0.5% * Grontmij 69,703 321,262 0.0% # Heijmans NV 510,079 6,943,157 0.1% Hunter Douglas NV 248 10,279 0.0% KAS Bank NV 307,542 3,719,202 0.0% # Koninklijke BAM Groep NV 6,983,328 16,746,549 0.1% # Koninklijke Ten Cate NV 343,605 7,749,738 0.1% Koninklijke Wessanen NV 536,061 3,427,789 0.0% * Macintosh Retail Group NV 7,600 46,847 0.0% #* Ordina NV 2,006,476 3,292,660 0.0% # SNS Reaal NV 4,344,025 -- 0.0% * Telegraaf Media Groep NV 93,393 728,119 0.0% TNT Express NV 1,361,094 7,911,367 0.1% #* TomTom NV 2,919,396 21,207,301 0.2% USG People NV 1,823,235 18,290,315 0.2% --------------------- ------------------ TOTAL NETHERLANDS 251,926,909 2.2% --------------------- ------------------ NEW ZEALAND -- (0.3%) # Abano Healthcare Group, Ltd. 754 4,042 0.0% Air New Zealand, Ltd. 9,697,307 15,351,634 0.1% Auckland International Airport, Ltd. 508,433 1,537,087 0.0% Cavalier Corp., Ltd. 3,143 2,261 0.0% CDL Investments New Zealand, Ltd. 142,030 59,383 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- NEW ZEALAND -- (Continued) Chorus, Ltd. 511,687 $ 848,852 0.0% Colonial Motor Co., Ltd. (The) 243,551 1,144,558 0.0% Contact Energy, Ltd. 84,841 411,581 0.0% # Ebos Group, Ltd. 114,197 856,519 0.0% # Heartland New Zealand, Ltd. 625,068 488,988 0.0% # Metlifecare, Ltd. 9,684 32,653 0.0% Millennium & Copthorne Hotels New Zealand, Ltd. 905,618 893,999 0.0% New Zealand Oil & Gas, Ltd. 2,219,605 1,279,563 0.0% New Zealand Refining Co., Ltd. (The) 22,674 30,032 0.0% # Nuplex Industries, Ltd. 2,945,016 7,266,082 0.1% # PGG Wrightson, Ltd. 2,111,833 752,533 0.0% Richina Pacific, Ltd. 832,183 43,786 0.0% #* Rubicon, Ltd. 3,767,301 1,005,789 0.0% Sanford, Ltd. 1,099,644 4,337,604 0.1% Sky Network Television, Ltd. 617,062 3,063,912 0.0% Steel & Tube Holdings, Ltd. 158,934 371,260 0.0% * Tenon, Ltd. 137,210 184,498 0.0% # Tourism Holdings, Ltd. 870,292 991,460 0.0% Tower, Ltd. 2,517,321 3,878,982 0.1% --------------------- ------------------ TOTAL NEW ZEALAND 44,837,058 0.4% --------------------- ------------------ NORWAY -- (0.8%) # Akastor ASA 355,830 1,225,628 0.0% Aker ASA Class A 43,672 1,065,253 0.0% * Archer, Ltd. 3,195,711 3,080,000 0.0% Austevoll Seafood ASA 1,055,380 6,863,007 0.1% Bonheur ASA 225,125 2,818,427 0.0% BW Offshore, Ltd. 6,508,418 7,990,584 0.1% Deep Sea Supply P.L.C. 820,856 929,574 0.0% * DOF ASA 563,923 1,644,504 0.0% #* Dolphin Group A.S. 1,973,609 845,930 0.0% Eltek ASA 1,433,745 2,081,513 0.0% Evry ASA 260,527 656,970 0.0% Farstad Shipping ASA 207,709 2,395,794 0.0% Fred Olsen Energy ASA 105,895 1,130,051 0.0% #* Frontline, Ltd. 444,224 627,994 0.0% Ganger Rolf ASA 402,365 5,040,304 0.1% # Golden Ocean Group, Ltd. 6,058,932 7,374,300 0.1% * Grieg Seafood ASA 103,905 442,673 0.0% #* Havila Shipping ASA 38,346 153,758 0.0% * Kongsberg Automotive ASA 10,167,813 9,729,163 0.1% # Kvaerner ASA 1,373,452 1,810,601 0.0% #* Norske Skogindustrier ASA 4,225,055 2,252,152 0.0% Northern Offshore, Ltd. 44,072 54,888 0.0% #* Odfjell SE Class A 249,938 979,104 0.0% #* Panoro Energy ASA 4,692,449 1,795,687 0.0% # Petroleum Geo-Services ASA 738,511 3,668,043 0.0% #* REC Silicon ASA 27,551,701 11,015,039 0.1% * REC Solar ASA 229,507 3,068,820 0.0% #* Sevan Drilling A.S. 2,984,970 428,251 0.0% Sevan Marine ASA 531,955 1,737,152 0.0% Siem Offshore, Inc. 580,412 449,895 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- NORWAY -- (Continued) # Solstad Offshore ASA 359,951 $ 4,377,509 0.1% #* Songa Offshore 6,095,851 2,103,883 0.0% SpareBank 1 SMN 797,325 7,090,008 0.1% Stolt-Nielsen, Ltd. 124,741 2,247,572 0.0% * Storebrand ASA 543,336 2,785,903 0.0% * TTS Group ASA 72,371 41,395 0.0% Wilh Wilhelmsen Holding ASA Class A 253,163 6,744,914 0.1% --------------------- ------------------ TOTAL NORWAY 108,746,243 0.9% --------------------- ------------------ PORTUGAL -- (0.7%) #* Banco BPI SA 5,824,425 11,408,301 0.1% #* Banco Comercial Portugues SA 516,415,630 58,368,713 0.5% Corticeira Amorim SGPS SA 2,076,904 7,818,144 0.1% EDP Renovaveis SA 198,563 1,290,986 0.0% NOS SGPS 601,761 3,452,348 0.0% Novabase SGPS SA 10,085 30,321 0.0% Papelaria Fernandes-Industria e Comercia SA 2,000 -- 0.0% Semapa-Sociedade de Investimento e Gestao 67,139 812,433 0.0% * Sonae Capital SGPS SA 289,985 105,265 0.0% #* Sonae Industria SGPS SA 1,369,348 308,283 0.0% * Sumol + Compal SA 53,800 75,322 0.0% # Teixeira Duarte SA 144,923 143,096 0.0% --------------------- ------------------ TOTAL PORTUGAL 83,813,212 0.7% --------------------- ------------------ RUSSIA -- (0.0%) * Exillon Energy P.L.C. 225,558 547,872 0.0% --------------------- ------------------ SINGAPORE -- (1.4%) * Abterra, Ltd. 52,000 30,345 0.0% # ASL Marine Holdings, Ltd. 1,254,800 582,490 0.0% #* Ausgroup, Ltd. 1,557,000 428,371 0.0% Banyan Tree Holdings, Ltd. 59,000 28,469 0.0% #* Biosensors International Group, Ltd. 3,849,000 1,871,974 0.0% Bonvests Holdings, Ltd. 1,338,280 1,429,396 0.0% #* Broadway Industrial Group, Ltd. 4,031,267 631,833 0.0% # China Merchants Holdings Pacific, Ltd. 1,751,000 1,228,247 0.0% Chip Eng Seng Corp., Ltd. 8,982,198 6,150,537 0.1% # Chuan Hup Holdings, Ltd. 7,757,000 1,777,903 0.0% Creative Technology, Ltd. 799,150 1,282,527 0.0% CSC Holdings, Ltd. 348,000 18,637 0.0% * Delong Holdings, Ltd. 679,000 108,112 0.0% DMX Technologies Group, Ltd. 3,585,000 447,264 0.0% EnGro Corp., Ltd. 115,500 106,102 0.0% Excel Machine Tools, Ltd. 473,000 -- 0.0% # Ezra Holdings, Ltd. 17,045,000 10,830,706 0.1% Falcon Energy Group, Ltd. 291,000 68,017 0.0% Far East Orchard, Ltd. 5,199,720 7,024,398 0.1% * First Sponsor Group, Ltd. 980,587 915,937 0.0% GK Goh Holdings, Ltd. 2,295,000 1,545,098 0.0% Global Premium Hotels, Ltd. 37,000 10,067 0.0% GMG Global, Ltd. 3,164,000 153,117 0.0% GP Batteries International, Ltd. 170,000 99,758 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- SINGAPORE -- (Continued) GP Industries, Ltd. 2,169,808 $ 928,094 0.0% * Hanwell Holdings, Ltd. 6,729,043 1,491,268 0.0% #* Healthway Medical Corp., Ltd. 3,497,000 127,821 0.0% HG Metal Manufacturing, Ltd. 1,230,000 69,728 0.0% Hi-P International, Ltd. 66,000 33,404 0.0% Hiap Hoe, Ltd. 47,000 30,172 0.0% Ho Bee Land, Ltd. 6,925,000 10,744,833 0.1% Hong Fok Corp., Ltd. 7,599,000 5,265,065 0.1% # Hong Leong Asia, Ltd. 991,000 1,063,726 0.0% # Hotel Grand Central, Ltd. 2,765,239 2,841,653 0.0% Hour Glass, Ltd. (The) 390,320 561,426 0.0% HupSteel, Ltd. 29,000 4,636 0.0% Hwa Hong Corp., Ltd. 1,014,000 256,862 0.0% Indofood Agri Resources, Ltd. 6,564,000 4,270,785 0.1% InnoTek, Ltd. 4,120,000 883,262 0.0% IPC Corp., Ltd. 16,472,000 1,888,260 0.0% Isetan Singapore, Ltd. 171,000 619,513 0.0% # Jaya Holdings, Ltd. 5,173,000 169,662 0.0% Jurong Technologies Industrial Corp., Ltd. 3,391,000 -- 0.0% k1 Ventures, Ltd. 13,963,000 2,229,352 0.0% Koh Brothers Group, Ltd. 1,464,000 353,633 0.0% * KS Energy, Ltd. 16,000 5,690 0.0% LCD Global Investments, Ltd. 6,813,960 1,618,781 0.0% Lee Kim Tah Holdings, Ltd. 2,313,000 1,951,535 0.0% * Li Heng Chemical Fibre Technologies, Ltd. 11,463,000 924,357 0.0% Lian Beng Group, Ltd. 1,512,000 812,613 0.0% #* Linc Energy, Ltd. 1,584,514 1,278,704 0.0% Low Keng Huat Singapore, Ltd. 85,000 43,242 0.0% Lum Chang Holdings, Ltd. 1,416,000 413,518 0.0% Marco Polo Marine, Ltd. 129,000 33,180 0.0% * Mercator Lines Singapore, Ltd. 774,000 41,652 0.0% # Mermaid Maritime PCL 2,305,000 630,207 0.0% # Metro Holdings, Ltd. 10,849,960 7,398,563 0.1% Mewah International, Inc. 56,000 16,337 0.0% # Midas Holdings, Ltd. 23,089,000 5,844,570 0.1% # NSL, Ltd. 655,000 840,078 0.0% #* Oceanus Group, Ltd. 10,676,000 107,857 0.0% # Otto Marine, Ltd. 18,543,500 795,074 0.0% # OUE, Ltd. 1,260,000 2,071,476 0.0% # Penguin International, Ltd. 107,250 19,244 0.0% Popular Holdings, Ltd. 8,482,250 1,584,392 0.0% QAF, Ltd. 3,808,637 3,012,458 0.0% Raffles Education Corp., Ltd. 15,068,200 3,994,381 0.1% Rickmers Maritime 245,000 56,203 0.0% * S I2I, Ltd. 13,677,000 47,907 0.0% San Teh, Ltd. 625,800 144,838 0.0% Sinarmas Land, Ltd. 375,000 178,158 0.0% Sing Holdings, Ltd. 399,000 105,612 0.0% Sing Investments & Finance, Ltd. 84,000 84,680 0.0% Singapore Reinsurance Corp., Ltd. 3,080,110 707,929 0.0% Singapore Shipping Corp., Ltd. 402,000 79,834 0.0% Singapura Finance, Ltd. 105,000 123,819 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- SINGAPORE -- (Continued) # Stamford Land Corp., Ltd. 4,041,000 $ 1,746,349 0.0% # Sunningdale Tech, Ltd. 10,519,000 1,622,777 0.0% #* SunVic Chemical Holdings, Ltd. 7,560,000 3,413,716 0.0% # Swiber Holdings, Ltd. 15,419,000 4,733,250 0.1% # Tat Hong Holdings, Ltd. 1,722,000 1,052,932 0.0% Tiong Woon Corp. Holding, Ltd. 8,059,500 1,852,644 0.0% # Tuan Sing Holdings, Ltd. 17,928,152 6,081,742 0.1% UMS Holdings, Ltd. 3,570,750 1,404,363 0.0% # United Engineers, Ltd. 9,399,332 21,007,972 0.2% # United Industrial Corp., Ltd. 4,194,314 10,912,631 0.1% Wheelock Properties Singapore, Ltd. 2,285,000 3,206,532 0.0% Wing Tai Holdings, Ltd. 9,675,054 13,480,618 0.1% Yeo Hiap Seng, Ltd. 910,457 1,360,752 0.0% YHI International, Ltd. 31,000 5,668 0.0% # Yongnam Holdings, Ltd. 1,718,000 308,098 0.0% --------------------- ------------------ TOTAL SINGAPORE 177,759,393 1.5% --------------------- ------------------ SPAIN -- (2.5%) # Abengoa SA 696,680 3,087,794 0.0% # Abengoa SA Class B 2,199,134 9,294,922 0.1% * Acciona SA 218,557 15,274,618 0.1% Acerinox SA 303,551 4,516,705 0.1% Adveo Group International SA 176,923 3,215,388 0.0% * Azkoyen SA 2,580 6,083 0.0% Bankinter SA 8,991,387 74,381,317 0.7% * Baron de Ley 22,116 2,006,733 0.0% #* Caja de Ahorros del Mediterraneo 298,813 -- 0.0% #* Cementos Portland Valderrivas SA 217,063 1,157,275 0.0% # Construcciones y Auxiliar de Ferrocarriles SA 3,299 1,098,373 0.0% * Deoleo SA 8,782,900 4,074,485 0.0% Dinamia Capital Privado Sociedad de Capital Riesgo SA 44,356 416,462 0.0% #* Dogi International Fabrics SA 32,521 27,916 0.0% # Ebro Foods SA 522,878 9,359,101 0.1% Elecnor SA 4,667 52,053 0.0% Ence Energia y Celulosa SA 3,985,687 8,632,293 0.1% * Ercros SA 1,850,875 1,100,676 0.0% Espanola del Zinc SA 53,703 -- 0.0% # Fluidra SA 182,140 596,563 0.0% #* Fomento de Construcciones y Contratas SA 756,658 13,920,084 0.1% * Gamesa Corp. Tecnologica SA 6,939,007 68,509,030 0.6% Grupo Catalana Occidente SA 48,620 1,466,935 0.0% # Iberpapel Gestion SA 107,514 1,622,848 0.0% Indra Sistemas SA 380,891 4,207,853 0.1% # Melia Hotels International SA 1,283,223 12,836,281 0.1% # Miquel y Costas & Miquel SA 27,041 947,497 0.0% #* Natra SA 46,081 69,964 0.0% #* NH Hotel Group SA 2,621,141 11,967,891 0.1% # Obrascon Huarte Lain SA 531,051 15,525,417 0.1% Papeles y Cartones de Europa SA 929,942 4,857,196 0.1% * Pescanova SA 338,483 -- 0.0% * Promotora de Informaciones SA Class A 5,854,390 1,655,898 0.0% * Realia Business SA 56,325 82,134 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- SPAIN -- (Continued) #* Sacyr SA 7,565,697 $ 33,242,443 0.3% * Sociedad Nacional de Industrias Apicaciones Celulosa Espanola SA 370,644 17,069 0.0% #* Solaria Energia y Medio Ambiente SA 874,764 992,582 0.0% * Telecomunicaciones y Energia 10,394 17,938 0.0% Tubacex SA 254,293 1,081,428 0.0% # Tubos Reunidos SA 269,991 790,848 0.0% Vidrala SA 1,136 45,132 0.0% * Vocento SA 14,029 26,857 0.0% --------------------- ------------------ TOTAL SPAIN 312,182,082 2.7% --------------------- ------------------ SWEDEN -- (3.3%) AAK AB 3,239 175,676 0.0% # Acando AB 816,591 1,258,134 0.0% AddNode Group AB 37,990 221,074 0.0% AF AB Class B 74,984 1,136,369 0.0% #* Arise AB 83,245 191,269 0.0% B&B Tools AB Class B 233,690 4,381,033 0.0% #* BE Group AB 125,805 107,680 0.0% Beijer Alma AB 16,080 374,171 0.0% Beijer Ref AB Class B 185,323 3,366,142 0.0% Bilia AB Class A 442,474 12,560,332 0.1% BillerudKorsnas AB 3,504,601 51,117,323 0.4% # Biotage AB 895,743 1,427,536 0.0% # Bulten AB 126,805 1,056,948 0.0% Bure Equity AB 1,248,438 5,232,072 0.1% Catena AB 97,210 1,320,954 0.0% # Cavotec SA 12,841 41,999 0.0% #* Cloetta AB Class B 1,168,013 3,391,314 0.0% Concentric AB 623,812 7,632,931 0.1% * Concordia Maritime AB Class B 400,102 600,363 0.0% * CyberCom Group AB 1,031,533 365,640 0.0% Duni AB 167,776 2,392,142 0.0% * East Capital Explorer AB 87,636 580,649 0.0% Enea AB 2,241 18,368 0.0% #* Eniro AB 2,458,895 2,706,085 0.0% Gunnebo AB 388,592 1,964,274 0.0% Haldex AB 1,227,419 15,064,013 0.1% HIQ International AB 2,405 13,012 0.0% Holmen AB Class B 1,382,044 45,742,308 0.4% Industrial & Financial Systems Class B 49,519 1,541,949 0.0% * KappAhl AB 413,092 2,289,760 0.0% #* Karolinska Development AB Class B 86,701 147,846 0.0% KNOW IT AB 159,909 1,169,067 0.0% # Lagercrantz AB Class B 200,805 3,806,513 0.0% #* Lindab International AB 610,902 5,616,679 0.1% # Meda AB Class A 1,651,937 21,633,911 0.2% #* Medivir AB Class B 7,958 134,380 0.0% Mekonomen AB 26,056 549,600 0.0% MQ Holding AB 272,861 1,242,449 0.0% Mycronic AB 1,671,444 4,539,440 0.1% #* Net Insight AB Class B 1,519,784 624,957 0.0% # New Wave Group AB Class B 1,081,617 4,975,736 0.1% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- SWEDEN -- (Continued) Nibe Industrier AB Class B 7,934 $ 210,602 0.0% Nobia AB 545,889 4,437,420 0.1% Nolato AB Class B 161,524 3,735,019 0.0% Nordnet AB Class B 21,012 74,151 0.0% #* PA Resources AB 216,361 83,477 0.0% Peab AB 1,850,916 12,565,995 0.1% #* Pricer AB Class B 172,034 128,400 0.0% Proact IT Group AB 49,003 538,993 0.0% Proffice AB Class B 5,845 14,777 0.0% # Ratos AB Class B 651,400 4,371,923 0.0% * Rezidor Hotel Group AB 11,995 52,375 0.0% #* rnb Retail and Brands AB 95,803 138,158 0.0% # Saab AB Class B 732,111 19,772,226 0.2% #* SAS AB 4,129,940 6,356,157 0.1% Semcon AB 38,736 283,680 0.0% SkiStar AB 6,043 69,198 0.0% * SSAB AB Class A(BPRBWK4) 942,588 6,703,538 0.1% #* SSAB AB Class A(B17H0S8) 3,446,753 25,011,217 0.2% * SSAB AB Class B(BPRBWM6) 2,417,473 15,638,755 0.1% * SSAB AB Class B(B17H3F6) 885,924 5,673,888 0.1% * Swedish Orphan Biovitrum AB 842,521 9,636,171 0.1% # TradeDoubler AB 128,127 134,447 0.0% * Transcom WorldWide SA(7206715) 591,524 82,327 0.0% #* Transcom WorldWide SA(7206726) 3,809,108 566,742 0.0% Trelleborg AB Class B 5,269,972 90,223,713 0.8% --------------------- ------------------ TOTAL SWEDEN 419,215,447 3.6% --------------------- ------------------ SWITZERLAND -- (3.8%) # AFG Arbonia-Forster Holding AG 278,888 6,807,468 0.1% Allreal Holding AG 151,539 20,058,902 0.2% # Alpiq Holding AG 22,842 2,298,112 0.0% ALSO Holding AG 9,450 515,677 0.0% Autoneum Holding AG 11,841 1,973,131 0.0% Baloise Holding AG 208,015 26,185,922 0.2% Bank Coop AG 18,665 824,195 0.0% Banque Cantonale de Geneve 13,130 2,900,014 0.0% Banque Cantonale du Jura 7,948 515,390 0.0% Banque Cantonale Vaudoise 10,787 5,777,315 0.1% # Basler Kantonalbank 4,254 283,705 0.0% Bell AG 134 309,354 0.0% Bellevue Group AG 54,925 698,559 0.0% # Berner Kantonalbank AG 3,090 577,494 0.0% Bobst Group SA 194,424 8,462,262 0.1% Carlo Gavazzi Holding AG 7,688 1,821,417 0.0% Cham Paper Holding AG 11,660 2,919,690 0.0% * Charles Voegele Holding AG 174,066 2,651,987 0.0% Cicor Technologies 12,055 423,687 0.0% Cie Financiere Tradition SA 1,676 75,192 0.0% Clariant AG 1,344,747 23,456,465 0.2% Coltene Holding AG 54,713 3,401,254 0.0% Conzzeta AG 3,818 13,471,879 0.1% Daetwyler Holding AG 128,382 16,276,739 0.2% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- SWITZERLAND -- (Continued) EFG International AG 727,498 $ 7,563,988 0.1% Emmi AG 39,124 13,828,654 0.1% # Energiedienst Holding AG 2,883 94,410 0.0% Flughafen Zuerich AG 47,523 30,282,498 0.3% Forbo Holding AG 8,802 9,142,861 0.1% GAM Holding AG 1,855,692 31,691,264 0.3% Georg Fischer AG 26,677 15,407,953 0.1% Gurit Holding AG 8,756 3,667,263 0.0% Helvetia Holding AG 159,664 75,922,724 0.7% HOCHDORF Holding AG 608 85,927 0.0% Huber & Suhner AG 4,806 237,072 0.0% Implenia AG 262,982 14,178,764 0.1% Intershop Holdings AG 6,563 2,422,168 0.0% Jungfraubahn Holding AG 3,905 306,442 0.0% Kardex AG 55,663 2,518,086 0.0% Komax Holding AG 15,333 2,259,260 0.0% Kudelski SA 173,873 2,217,522 0.0% Liechtensteinische Landesbank AG 44,405 1,782,129 0.0% Lonza Group AG 18,845 2,076,465 0.0% Luzerner Kantonalbank AG 1,742 630,083 0.0% MCH Group AG 6,376 424,262 0.0% #* Meyer Burger Technology AG 1,046,351 8,826,620 0.1% Micronas Semiconductor Holding AG 96,351 644,562 0.0% Mikron Holding AG 38,875 263,514 0.0% Mobimo Holding AG 18,918 3,728,903 0.0% * Orascom Development Holding AG 105,315 1,838,379 0.0% Orior AG 2,089 112,942 0.0% Romande Energie Holding SA 4,003 4,447,958 0.1% * Schmolz + Bickenbach AG 9,682,338 11,692,026 0.1% Schweiter Technologies AG 2,802 2,020,060 0.0% Siegfried Holding AG 28,408 4,366,465 0.0% St Galler Kantonalbank AG 14,490 5,240,709 0.1% Sulzer AG 36,411 4,150,088 0.0% Swiss Life Holding AG 175,357 40,234,036 0.4% * Swisslog Holding AG 181,902 253,590 0.0% Tamedia AG 2,295 301,292 0.0% * Tornos Holding AG 42,112 251,417 0.0% * Valartis Group AG 3,658 62,262 0.0% Valiant Holding AG 108,005 9,446,677 0.1% Valora Holding AG 42,348 8,771,493 0.1% Vaudoise Assurances Holding SA Class B 22,093 9,662,145 0.1% Vetropack Holding AG 454 775,144 0.0% # Vontobel Holding AG 148,264 5,388,879 0.1% VP Bank AG 37,874 3,140,695 0.0% # Zehnder Group AG 28,145 1,106,509 0.0% Zug Estates Holding AG 79 95,771 0.0% Zuger Kantonalbank AG 36 166,457 0.0% --------------------- ------------------ TOTAL SWITZERLAND 486,414,198 4.2% --------------------- ------------------ UNITED KINGDOM -- (21.2%) Acal P.L.C. 561,584 1,889,568 0.0% * Afren P.L.C. 2,935,351 3,619,160 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- UNITED KINGDOM -- (Continued) African Barrick Gold P.L.C. 1,176,896 $ 3,877,113 0.0% * Aga Rangemaster Group P.L.C. 1,898,962 4,440,835 0.0% Alent P.L.C. 5,405,549 29,024,044 0.3% Alumasc Group 575,307 1,168,654 0.0% Amberley Group P.L.C. 71,000 -- 0.0% Amlin P.L.C. 11,064,118 80,751,776 0.7% Anglo Pacific Group P.L.C. 1,238,848 2,624,491 0.0% Anglo-Eastern Plantations P.L.C. 241,403 2,485,140 0.0% Ashtead Group P.L.C. 7,730,038 129,510,847 1.1% Avesco Group P.L.C. 84,124 138,917 0.0% Barratt Developments P.L.C. 21,380,562 143,728,193 1.2% BBA Aviation P.L.C. 1,446,324 8,187,302 0.1% Beazley P.L.C. 12,470,827 52,380,139 0.5% Bellway P.L.C. 3,448,205 96,725,996 0.8% Berendsen P.L.C. 645,207 10,447,882 0.1% Bloomsbury Publishing P.L.C. 91,152 234,001 0.0% Bodycote P.L.C. 5,021,077 50,254,417 0.4% Boot Henry P.L.C. 1,143,997 3,531,844 0.0% Bovis Homes Group P.L.C. 3,801,855 51,345,061 0.4% Braemar Shipping Services P.L.C. 1,546 11,620 0.0% British Polythene Industries P.L.C. 319,936 3,314,195 0.0% # Bwin.Party Digital Entertainment P.L.C. 1,708,264 2,455,649 0.0% * Cairn Energy P.L.C. 1,245,729 2,913,259 0.0% # Camellia P.L.C. 2,629 365,866 0.0% Cape P.L.C. 205,431 888,698 0.0% Capital & Regional P.L.C. 5,211,567 4,015,965 0.0% Carclo P.L.C. 23,360 33,187 0.0% # Carillion P.L.C. 4,492,540 23,934,547 0.2% Carr's Milling Industries P.L.C. 45,502 1,179,615 0.0% Castings P.L.C. 435,213 3,056,294 0.0% Catlin Group, Ltd. 9,089,700 78,087,662 0.7% Centamin P.L.C. 3,150,562 2,579,873 0.0% # Centaur Media P.L.C. 131,854 122,282 0.0% Chemring Group P.L.C. 432,958 1,689,741 0.0% Chesnara P.L.C. 296,018 1,630,466 0.0% Chime Communications P.L.C. 170,277 755,649 0.0% Cineworld Group P.L.C. 2,277 12,207 0.0% Close Brothers Group P.L.C. 1,724,250 40,463,125 0.4% * Coalfield Resources P.L.C. 911,673 80,915 0.0% * Colt Group SA 5,736,249 12,638,289 0.1% # Communisis P.L.C. 2,817,932 2,485,275 0.0% Computacenter P.L.C. 1,910,955 18,898,843 0.2% Cranswick P.L.C. 3,525 80,033 0.0% Creston P.L.C. 187,426 346,478 0.0% CSR P.L.C. 4,886,688 65,673,331 0.6% Daejan Holdings P.L.C. 75,237 5,998,639 0.1% Dairy Crest Group P.L.C. 702,475 4,692,591 0.0% Debenhams P.L.C. 4,547,296 4,721,276 0.0% Development Securities P.L.C. 2,446,450 8,287,687 0.1% Dixons Carphone P.L.C. 11,398,297 72,376,637 0.6% Drax Group P.L.C. 463,258 4,407,897 0.0% DS Smith P.L.C. 15,172,280 64,440,510 0.6% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- UNITED KINGDOM -- (Continued) easyJet P.L.C. 689,049 $ 16,557,135 0.2% Elementis P.L.C. 3,548,758 15,029,515 0.1% * EnQuest P.L.C. 1,197,226 1,331,482 0.0% * Enterprise Inns P.L.C. 11,543,976 23,650,472 0.2% Evraz P.L.C. 1,203,154 2,494,135 0.0% Fenner P.L.C. 46,057 227,947 0.0% Ferrexpo P.L.C. 187,750 253,540 0.0% * Findel P.L.C. 3,863 16,316 0.0% * Firstgroup P.L.C. 2,331,043 4,200,812 0.0% Future P.L.C. 1,768,908 224,253 0.0% Galliford Try P.L.C. 797,107 15,600,598 0.1% * Gem Diamonds, Ltd. 2,009,210 4,998,995 0.1% Grafton Group P.L.C. 1,806,353 18,336,932 0.2% # Greene King P.L.C. 4,957,978 63,741,992 0.6% * Hardy Oil & Gas P.L.C. 78,909 122,904 0.0% Harvey Nash Group P.L.C. 660,735 931,434 0.0% Headlam Group P.L.C. 31,725 198,518 0.0% Helical Bar P.L.C. 2,464,618 13,816,732 0.1% Hiscox, Ltd. 8,547,223 93,222,509 0.8% #* Hochschild Mining P.L.C. 267,932 423,620 0.0% Home Retail Group P.L.C. 16,459,487 48,301,027 0.4% Hunting P.L.C. 251,363 2,960,822 0.0% Huntsworth P.L.C. 3,242,574 2,306,190 0.0% Inchcape P.L.C. 8,858,210 98,683,203 0.9% Intermediate Capital Group P.L.C. 2,324,248 15,278,884 0.1% * International Ferro Metals, Ltd. 1,960,461 180,485 0.0% Interserve P.L.C. 499,652 5,072,826 0.1% * IP Group P.L.C. 145,440 483,476 0.0% #* JKX Oil & Gas P.L.C. 391,101 238,385 0.0% John Wood Group P.L.C. 456,327 4,841,678 0.0% * Johnston Press P.L.C. 8,143,186 450,566 0.0% #* Kazakhmys P.L.C. 1,111,440 4,100,444 0.0% Keller Group P.L.C. 637,883 8,523,160 0.1% Laird P.L.C. 3,559,337 17,965,742 0.2% * Lamprell P.L.C. 744,490 1,746,973 0.0% Lancashire Holdings, Ltd. 1,476,890 15,830,500 0.1% Lavendon Group P.L.C. 1,936,016 5,682,100 0.1% #* Lonmin P.L.C. 2,726,122 7,641,547 0.1% Lookers P.L.C. 257,901 573,583 0.0% Low & Bonar P.L.C. 3,388,506 3,006,208 0.0% Man Group P.L.C. 16,433,558 32,584,012 0.3% Management Consulting Group P.L.C. 3,240,625 912,913 0.0% Marshalls P.L.C. 1,594,058 5,086,937 0.1% Marston's P.L.C. 13,861,464 33,478,284 0.3% McBride P.L.C. 21,858 27,800 0.0% * Mecom Group P.L.C. 300,899 625,585 0.0% Meggitt P.L.C. 4,533,516 32,747,427 0.3% Melrose Industries P.L.C. 1,163,176 4,780,748 0.0% Millennium & Copthorne Hotels P.L.C. 4,813,561 43,911,265 0.4% * Mitchells & Butlers P.L.C. 5,754,583 35,026,856 0.3% MJ Gleeson Group P.L.C. 647,169 3,625,938 0.0% Mondi P.L.C. 3,867,542 65,363,271 0.6% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- UNITED KINGDOM -- (Continued) # Morgan Sindall Group P.L.C. 112,118 $ 1,234,122 0.0% * Mothercare P.L.C. 334,419 936,198 0.0% National Express Group P.L.C. 3,928,408 15,684,995 0.1% #* New World Resources P.L.C. Class A 32,193 685 0.0% Northgate P.L.C. 2,585,966 20,285,663 0.2% Novae Group P.L.C. 622,538 5,519,287 0.1% Pace P.L.C. 934,957 5,197,832 0.1% Pendragon P.L.C. 6,036,716 3,051,225 0.0% Persimmon P.L.C. 7,668,009 180,084,568 1.5% * Petra Diamonds, Ltd. 21,276 56,445 0.0% * Petropavlovsk P.L.C. 577,780 199,614 0.0% Phoenix Group Holdings 1,286,039 15,528,135 0.1% Phoenix IT Group P.L.C. 16,230 31,113 0.0% * Premier Foods P.L.C. 14,447,341 7,626,029 0.1% Premier Oil P.L.C. 1,611,093 6,652,664 0.1% #* Punch Taverns P.L.C. 474,599 1,145,373 0.0% PV Crystalox Solar P.L.C. 131,337 32,303 0.0% * Quintain Estates & Development P.L.C. 7,353,105 9,661,030 0.1% REA Holdings P.L.C. 1,354 8,677 0.0% Redrow P.L.C. 5,604,136 25,944,508 0.2% * Renold P.L.C. 1,122,936 1,020,046 0.0% RPS Group P.L.C. 667,793 2,507,240 0.0% S&U P.L.C. 3,928 121,744 0.0% * Salamander Energy P.L.C. 1,537,302 2,609,044 0.0% * SDL P.L.C. 34,029 214,435 0.0% Serco Group P.L.C. 250,686 1,196,272 0.0% * Severfield P.L.C. 261,818 252,018 0.0% Shanks Group P.L.C. 5,969,725 9,298,107 0.1% SIG P.L.C. 14,208,459 33,312,600 0.3% Soco International P.L.C. 15,897 83,725 0.0% Speedy Hire P.L.C. 2,824,150 2,811,902 0.0% Spirit Pub Co. P.L.C. 11,189,077 19,091,669 0.2% * Sportech P.L.C. 171,230 160,141 0.0% St Ives P.L.C. 2,304,784 7,108,559 0.1% ST Modwen Properties P.L.C. 3,801,817 22,036,589 0.2% Taylor Wimpey P.L.C. 74,080,800 140,721,013 1.2% * Thomas Cook Group P.L.C. 24,698,963 49,209,419 0.4% Travis Perkins P.L.C. 4,401,386 116,620,284 1.0% Treatt P.L.C. 118,770 299,346 0.0% # Trifast P.L.C. 888,900 1,409,864 0.0% * Trinity Mirror P.L.C. 7,644,285 20,058,017 0.2% TT electronics P.L.C. 2,547,362 6,830,326 0.1% TUI Travel P.L.C. 2,716,251 17,357,171 0.2% Tullett Prebon P.L.C. 168,084 764,405 0.0% UTV Media P.L.C. 6,241 20,731 0.0% Vedanta Resources P.L.C. 270,232 3,566,023 0.0% Vesuvius P.L.C. 5,951,466 40,633,041 0.4% Vitec Group P.L.C. (The) 1,961 19,085 0.0% Vp P.L.C. 315,426 2,975,075 0.0% William Ransom & Son Holding P.L.C. 65,000 -- 0.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------- --------------------- ------------------- UNITED KINGDOM -- (Continued) Xchanging P.L.C. 1,315,333 $ 3,988,120 0.0% --------------------- ------------------ TOTAL UNITED KINGDOM 2,691,598,834 23.0% --------------------- ------------------ TOTAL COMMON STOCKS 11,619,300,062 99.5% --------------------- ------------------ RIGHTS/WARRANTS -- (0.0%) AUSTRALIA -- (0.0%) #* Ramelius Resources, Ltd. Warrants 08/01/15 258,526 1,706 0.0% --------------------- ------------------ AUSTRIA -- (0.0%) #* Intercell AG Rights 41,929 -- 0.0% --------------------- ------------------ FRANCE -- (0.0%) * Bigben Interactive Rights 01/31/2016 2,948 100 0.0% * Peugeot SA Warrants 04/29/17 968,761 1,468,943 0.0% --------------------- ------------------ TOTAL FRANCE 1,469,043 0.0% --------------------- ------------------ HONG KONG -- (0.0%) * Cheuk Nang Holdings, Ltd. Warrants 11/10/15 84,217 22,154 0.0% --------------------- ------------------ ISRAEL -- (0.0%) * Africa Israel Investments, Ltd. Rights 03/31/2015 160,000 10,062 0.0% --------------------- ------------------ ITALY -- (0.0%) #* Trevi Finanziaria Industriale SpA Rights 11/06/14 85,597 95,467 0.0% --------------------- ------------------ SPAIN -- (0.0%) * Vidrala SA Rights 11/13/14 1,136 2,218 0.0% --------------------- ------------------ UNITED KINGDOM -- (0.0%) * McBride P.L.C. Rights 721,314 1,154 0.0% --------------------- ------------------ TOTAL RIGHTS/WARRANTS 1,601,804 0.0% --------------------- ------------------ VALUE+ --------------------- SECURITIES LENDING COLLATERAL -- (8.4%) (S)@ DFA Short Term Investment Fund 91,962,199 1,064,002,644 9.1% --------------------- ------------------ TOTAL INVESTMENTS -- (100.0%) (Cost $11,124,184,844) $ 12,684,904,510 108.6% ===================== ================== DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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 $ 10,888,717 $ 626,015,665 -- $ 636,904,382 Austria -- 83,565,476 -- 83,565,476 Belgium -- 103,554,907 -- 103,554,907 Canada 1,004,947,054 384,353 -- 1,005,331,407 China -- 2,698,400 -- 2,698,400 Denmark -- 208,090,877 -- 208,090,877 Finland -- 263,243,994 -- 263,243,994 France 1,125,211 432,023,918 -- 433,149,129 Germany 1,649,140 577,833,879 -- 579,483,019 Greece -- 25,337 -- 25,337 Hong Kong 16,897 300,011,798 -- 300,028,695 Ireland -- 49,991,081 -- 49,991,081 Israel -- 83,951,496 -- 83,951,496 Italy -- 456,124,466 -- 456,124,466 Japan 15,666,766 2,820,449,382 -- 2,836,116,148 Netherlands -- 251,926,909 -- 251,926,909 New Zealand 1,190,287 43,646,771 -- 44,837,058 Norway -- 108,746,243 -- 108,746,243 Portugal -- 83,813,212 -- 83,813,212 Russia -- 547,872 -- 547,872 Singapore 963,844 176,795,549 -- 177,759,393 Spain 27,916 312,154,166 -- 312,182,082 Sweden -- 419,215,447 -- 419,215,447 Switzerland -- 486,414,198 -- 486,414,198 United Kingdom 1,148,986 2,690,449,848 -- 2,691,598,834 Rights/Warrants Australia -- 1,706 -- 1,706 Austria -- -- -- -- France -- 1,469,043 -- 1,469,043 Hong Kong -- 22,154 -- 22,154 Israel -- 10,062 -- 10,062 Italy -- 95,467 -- 95,467 Spain -- 2,218 -- 2,218 United Kingdom -- 1,154 -- 1,154 Securities Lending Collateral -- 1,064,002,644 -- 1,064,002,644 -------------------- ------------------ --------------------- -------------------- TOTAL $ 1,037,624,818 $ 11,647,279,692 -- $ 12,684,904,510 ==================== =================== ===================== ==================== INTERNATIONAL VECTOR EQUITY PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2014 PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- COMMON STOCKS -- (90.0%) AUSTRALIA -- (6.4%) Adelaide Brighton, Ltd. 172,754 $ 515,159 0.1% * Aditya Birla Minerals, Ltd. 33,991 6,955 0.0% * AED Oil, Ltd. 28,704 -- 0.0% Ainsworth Game Technology, Ltd. 29,097 78,065 0.0% * AJ Lucas Group, Ltd. 9,790 6,116 0.0% * Alkane Resources, Ltd. 6,922 1,377 0.0% # ALS, Ltd. 49,670 245,985 0.0% Altium, Ltd. 12,131 32,885 0.0% * Alumina, Ltd. 879,559 1,271,218 0.1% * Alumina, Ltd. Sponsored ADR 900 5,121 0.0% Amalgamated Holdings, Ltd. 33,889 299,491 0.0% # Amcom Telecommunications, Ltd. 50,927 100,014 0.0% Amcor, Ltd. 54,153 562,478 0.1% AMP, Ltd. 338,855 1,747,483 0.2% Ansell, Ltd. 7,634 133,905 0.0% * Antares Energy, Ltd. 43,975 16,665 0.0% # AP Eagers, Ltd. 23,424 116,326 0.0% # APA Group 45,599 317,019 0.0% * APN News & Media, Ltd. 152,148 98,752 0.0% * Aquarius Platinum, Ltd. 101,205 26,932 0.0% # ARB Corp., Ltd. 14,480 167,969 0.0% # Aristocrat Leisure, Ltd. 128,156 728,592 0.1% # Arrium, Ltd. 1,567,926 465,501 0.1% Asciano, Ltd. 246,129 1,361,450 0.1% * ASG Group, Ltd. 51,124 34,253 0.0% ASX, Ltd. 4,369 138,617 0.0% # Atlas Iron, Ltd. 411,111 123,060 0.0% # Ausdrill, Ltd. 89,820 48,578 0.0% * Ausenco, Ltd. 42,031 19,010 0.0% # AusNet Services 75,503 91,276 0.0% * Austal, Ltd. 31,664 35,746 0.0% Austbrokers Holdings, Ltd. 8,522 76,715 0.0% # Austin Engineering, Ltd. 3,342 3,387 0.0% # Australia & New Zealand Banking Group, Ltd. 122,194 3,615,790 0.3% * Australian Agricultural Co., Ltd. 170,712 211,110 0.0% Australian Pharmaceutical Industries, Ltd. 53,097 37,839 0.0% # Automotive Holdings Group, Ltd. 116,587 393,065 0.0% Aveo Group 43,975 80,157 0.0% * AWE, Ltd. 292,981 454,169 0.1% Bank of Queensland, Ltd. 115,702 1,286,234 0.1% # BC Iron, Ltd. 41,913 39,714 0.0% Beach Energy, Ltd. 668,887 691,896 0.1% #* Beadell Resources, Ltd. 264,785 59,418 0.0% # Bega Cheese, Ltd. 2,367 10,780 0.0% Bendigo & Adelaide Bank Ltd 138,424 1,520,161 0.1% # BHP Billiton, Ltd. 109,768 3,283,910 0.3% # BHP Billiton, Ltd. Sponsored ADR 10,469 622,277 0.1% * Billabong International, Ltd. 230,704 134,549 0.0% # Blackmores, Ltd. 3,500 100,985 0.0% * BlueScope Steel, Ltd. 125,503 585,092 0.1% #* Boart Longyear, Ltd. 161,114 34,351 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- AUSTRALIA -- (Continued) Boral, Ltd. 262,721 $ 1,153,914 0.1% # Bradken, Ltd. 97,128 331,322 0.0% Brambles, Ltd. 70,098 589,583 0.1% # Breville Group, Ltd. 19,239 115,522 0.0% # Brickworks, Ltd. 12,351 147,527 0.0% BT Investment Management, Ltd. 22,273 122,702 0.0% # Cabcharge Australia, Ltd. 56,351 245,744 0.0% Caltex Australia, Ltd. 20,543 565,819 0.1% # Cardno, Ltd. 81,711 401,265 0.0% * Carnarvon Petroleum, Ltd. 105,419 20,653 0.0% # carsales.com, Ltd. 56,024 528,663 0.1% # Cash Converters International, Ltd. 128,427 123,184 0.0% Cedar Woods Properties, Ltd. 9,588 58,406 0.0% Centrebet International, Ltd. Claim Units 6,648 -- 0.0% Challenger, Ltd. 65,660 403,852 0.0% * Citigold Corp., Ltd. 194,096 2,220 0.0% * Coal of Africa, Ltd. 24,372 1,131 0.0% Coca-Cola Amatil, Ltd. 32,189 259,745 0.0% # Cochlear, Ltd. 3,449 223,536 0.0% * Cockatoo Coal, Ltd. 343,367 4,213 0.0% * Coffey International, Ltd. 53,206 14,171 0.0% # Commonwealth Bank of Australia 26,352 1,873,875 0.2% Computershare, Ltd. 22,394 243,035 0.0% Corporate Travel Management, Ltd. 6,666 53,027 0.0% Crowe Horwath Australasia, Ltd. 29,289 13,203 0.0% Crown Resorts, Ltd. 15,532 199,223 0.0% CSG, Ltd. 48,757 52,483 0.0% # CSL, Ltd. 20,897 1,475,389 0.1% CSR, Ltd. 237,341 726,413 0.1% * Cue Energy Resources, Ltd. 31,448 2,687 0.0% # Decmil Group, Ltd. 58,456 91,826 0.0% * Devine, Ltd. 2,971 2,610 0.0% Domino's Pizza Enterprises, Ltd. 13,051 311,067 0.0% Downer EDI, Ltd. 217,792 919,700 0.1% * Drillsearch Energy, Ltd. 241,851 252,555 0.0% DuluxGroup, Ltd. 99,568 470,545 0.1% Echo Entertainment Group, Ltd. 437,339 1,468,451 0.1% #* Elders, Ltd. 130,080 19,443 0.0% #* Emeco Holdings, Ltd. 218,506 35,429 0.0% #* Energy Resources of Australia, Ltd. 65,369 73,293 0.0% * Energy World Corp., Ltd. 238,480 74,045 0.0% # Equity Trustees, Ltd. 3,050 52,015 0.0% ERM Power, Ltd. 24,978 40,122 0.0% Euroz, Ltd. 1,190 1,182 0.0% # Evolution Mining, Ltd. 113,903 60,141 0.0% Fairfax Media, Ltd. 786,625 565,404 0.1% * FAR, Ltd. 557,529 49,204 0.0% Finbar Group, Ltd. 18,455 23,032 0.0% # Fleetwood Corp., Ltd. 2,933 4,483 0.0% # Flight Centre Travel Group, Ltd. 3,479 129,088 0.0% #* Focus Minerals, Ltd. 1,266,046 11,042 0.0% # Fortescue Metals Group, Ltd. 276,219 852,505 0.1% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- AUSTRALIA -- (Continued) Funtastic, Ltd. 27,420 $ 1,294 0.0% Goodman Fielder, Ltd. 762,944 431,752 0.0% GrainCorp, Ltd. Class A 73,358 567,388 0.1% # Grange Resources, Ltd. 122,656 14,802 0.0% # Greencross, Ltd. 6,772 51,135 0.0% * Gryphon Minerals, Ltd. 9,576 726 0.0% # GUD Holdings, Ltd. 31,454 199,096 0.0% #* Gunns, Ltd. 75,334 -- 0.0% # GWA Group, Ltd. 74,650 179,677 0.0% Hansen Technologies, Ltd. 19,184 26,426 0.0% # Harvey Norman Holdings, Ltd. 176,908 594,902 0.1% Helloworld, Ltd. 13,926 3,519 0.0% HFA Holdings, Ltd. 27,224 33,185 0.0% * Hillgrove Resources, Ltd. 19,911 9,584 0.0% Hills, Ltd. 81,191 95,065 0.0% * Horizon Oil, Ltd. 329,531 86,305 0.0% # iiNET, Ltd. 39,024 275,385 0.0% # Iluka Resources, Ltd. 65,053 417,621 0.0% # Imdex, Ltd. 49,768 26,353 0.0% Incitec Pivot, Ltd. 545,498 1,399,799 0.1% Independence Group NL 118,603 474,947 0.1% #* Infigen Energy 164,162 38,696 0.0% Infomedia, Ltd. 56,576 59,657 0.0% # Insurance Australia Group, Ltd. 196,503 1,136,281 0.1% # Invocare, Ltd. 24,701 263,564 0.0% # IOOF Holdings, Ltd. 43,255 345,018 0.0% # Iress, Ltd. 27,502 239,297 0.0% * iSelect, Ltd. 48,492 59,169 0.0% James Hardie Industries P.L.C. 29,101 310,410 0.0% James Hardie Industries P.L.C. Sponsored ADR 100 5,333 0.0% # JB Hi-Fi, Ltd. 26,179 360,495 0.0% #* Kingsgate Consolidated, Ltd. 46,190 29,469 0.0% # Leighton Holdings, Ltd. 9,134 177,829 0.0% Lend Lease Group 142,650 1,989,542 0.2% * Lonestar Resources, Ltd. 73,784 22,709 0.0% #* Lynas Corp., Ltd. 90,195 5,171 0.0% # M2 Group, Ltd. 36,051 250,147 0.0% MACA, Ltd. 27,572 31,487 0.0% * Macmahon Holdings, Ltd. 239,512 20,817 0.0% # Macquarie Atlas Roads Group 28,788 77,045 0.0% Macquarie Group, Ltd. 29,212 1,578,737 0.1% # Magellan Financial Group, Ltd. 19,192 227,830 0.0% MaxiTRANS Industries, Ltd. 43,486 23,572 0.0% * Mayne Pharma Group, Ltd. 78,756 52,677 0.0% McMillan Shakespeare, Ltd. 14,130 133,712 0.0% McPherson's, Ltd. 18,083 19,561 0.0% Melbourne IT, Ltd. 24,889 30,601 0.0% # Mermaid Marine Australia, Ltd. 80,322 131,479 0.0% # Metcash, Ltd. 146,816 366,683 0.0% Mincor Resources NL 60,677 32,999 0.0% * Mineral Deposits, Ltd. 28,317 34,077 0.0% # Mineral Resources, Ltd. 76,457 573,122 0.1% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- AUSTRALIA -- (Continued) # Monadelphous Group, Ltd. 24,669 $ 273,619 0.0% Mortgage Choice, Ltd. 37,287 86,328 0.0% # Mount Gibson Iron, Ltd. 292,783 116,338 0.0% # Myer Holdings, Ltd. 335,958 570,535 0.1% MyState, Ltd. 7,573 30,548 0.0% National Australia Bank, Ltd. 90,701 2,805,904 0.2% # Navitas, Ltd. 44,391 207,450 0.0% * Newcrest Mining, Ltd. 76,290 625,700 0.1% * Nexus Energy, Ltd. 247,654 2,125 0.0% # NIB Holdings, Ltd. 88,900 256,200 0.0% Nick Scali, Ltd. 5,910 14,525 0.0% # Northern Star Resources, Ltd. 166,705 160,775 0.0% # NRW Holdings, Ltd. 133,122 89,107 0.0% Nufarm, Ltd. 71,239 310,803 0.0% Oakton, Ltd. 52,096 86,723 0.0% Oil Search, Ltd. 26,128 200,342 0.0% Orica, Ltd. 29,558 539,559 0.1% Origin Energy, Ltd. 180,805 2,271,403 0.2% #* Orocobre, Ltd. 14,748 35,659 0.0% Orora, Ltd. 35,397 54,158 0.0% # OrotonGroup, Ltd. 3,801 12,691 0.0% * Otto Energy, Ltd. 72,021 6,080 0.0% # OZ Minerals, Ltd. 139,318 478,742 0.1% Pacific Brands, Ltd. 322,011 133,810 0.0% #* Paladin Energy, Ltd. 206,356 59,177 0.0% PanAust, Ltd. 233,335 353,826 0.0% # Panoramic Resources, Ltd. 115,565 61,625 0.0% Patties Foods, Ltd. 17,109 19,540 0.0% Peet, Ltd. 29,534 31,510 0.0% Perpetual, Ltd. 7,438 304,121 0.0% * Phosphagenics, Ltd. 15,812 1,097 0.0% # Platinum Asset Management, Ltd. 12,467 72,369 0.0% * Platinum Australia, Ltd. 59,641 315 0.0% * PMP, Ltd. 31,929 13,604 0.0% Premier Investments, Ltd. 47,499 450,677 0.1% * Prima Biomed, Ltd. 75,579 2,610 0.0% Primary Health Care, Ltd. 239,271 980,541 0.1% Prime Media Group, Ltd. 117,638 88,585 0.0% Programmed Maintenance Services, Ltd. 53,595 122,694 0.0% * Qantas Airways, Ltd. 486,209 726,451 0.1% # QBE Insurance Group, Ltd. 109,250 1,109,751 0.1% # Qube Holdings, Ltd. 101,717 220,033 0.0% #* Ramelius Resources, Ltd. 55,377 2,290 0.0% Ramsay Health Care, Ltd. 6,122 283,010 0.0% # RCG Corp., Ltd. 24,952 13,497 0.0% RCR Tomlinson, Ltd. 54,912 131,914 0.0% # REA Group, Ltd. 3,734 149,513 0.0% Recall Holdings, Ltd. 5,686 29,165 0.0% # Reckon, Ltd. 15,738 25,365 0.0% * Red Fork Energy, Ltd. 57,145 1,118 0.0% Redflex Holdings, Ltd. 15,216 15,516 0.0% Reece Australia, Ltd. 839 24,593 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- AUSTRALIA -- (Continued) # Regis Resources, Ltd. 45,208 $ 54,901 0.0% # Reject Shop, Ltd. (The) 10,703 78,086 0.0% * Resolute Mining, Ltd. 367,866 103,591 0.0% # Retail Food Group, Ltd. 50,796 249,402 0.0% Ridley Corp., Ltd. 96,363 74,584 0.0% Rio Tinto, Ltd. 17,746 947,606 0.1% * Roc Oil Co., Ltd. 324,074 194,593 0.0% Ruralco Holdings, Ltd. 6,256 19,173 0.0% SAI Global, Ltd. 71,105 257,379 0.0% Salmat, Ltd. 16,043 19,357 0.0% #* Samson Oil & Gas, Ltd. Sponsored ADR 10,577 3,152 0.0% Sandfire Resources NL 33,947 168,451 0.0% Santos, Ltd. 148,573 1,702,535 0.1% #* Saracen Mineral Holdings, Ltd. 303,405 76,094 0.0% # Sedgman, Ltd. 31,588 13,708 0.0% Seek, Ltd. 19,243 282,389 0.0% Select Harvests, Ltd. 20,521 113,928 0.0% #* Senex Energy, Ltd. 379,740 181,794 0.0% Servcorp, Ltd. 8,966 41,110 0.0% #* Service Stream, Ltd. 8,008 1,268 0.0% # Seven Group Holdings, Ltd. 54,038 325,986 0.0% # Seven West Media, Ltd. 204,879 309,782 0.0% Sigma Pharmaceuticals, Ltd. 586,676 399,713 0.0% #* Silex Systems, Ltd. 12,982 6,645 0.0% # Silver Chef, Ltd. 1,940 10,161 0.0% #* Silver Lake Resources, Ltd. 61,727 14,938 0.0% # Sims Metal Management, Ltd. 100,999 1,008,309 0.1% Sirtex Medical, Ltd. 11,331 260,194 0.0% Skilled Group, Ltd. 49,258 100,588 0.0% Slater & Gordon, Ltd. 19,395 104,791 0.0% # SMS Management & Technology, Ltd. 34,076 118,404 0.0% Sonic Healthcare, Ltd. 25,999 430,251 0.0% # Southern Cross Media Group, Ltd. 228,397 196,963 0.0% Spark Infrastructure Group 193,532 325,324 0.0% Specialty Fashion Group, Ltd. 16,869 12,361 0.0% #* St Barbara, Ltd. 148,747 14,399 0.0% * Starpharma Holdings, Ltd. 7,460 4,090 0.0% * Strike Energy, Ltd. 53,210 4,643 0.0% STW Communications Group, Ltd. 92,619 92,569 0.0% Suncorp Group, Ltd. 158,610 2,063,869 0.2% Sunland Group, Ltd. 26,250 39,245 0.0% # Super Retail Group, Ltd. 27,059 175,581 0.0% # Sydney Airport 37,045 144,021 0.0% Tabcorp Holdings, Ltd. 357,998 1,285,989 0.1% #* Tap Oil, Ltd. 84,108 45,581 0.0% Tassal Group, Ltd. 51,867 168,478 0.0% Tatts Group, Ltd. 478,634 1,465,140 0.1% # Technology One, Ltd. 65,676 193,918 0.0% #* Ten Network Holdings, Ltd. 802,994 156,975 0.0% # TFS Corp., Ltd. 76,174 105,579 0.0% Thorn Group, Ltd. 3,330 7,455 0.0% * Tiger Resources, Ltd. 232,205 52,888 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- AUSTRALIA -- (Continued) Titan Energy Services, Ltd. 29,967 $ 11,480 0.0% # Toll Holdings, Ltd. 283,384 1,419,813 0.1% # Tox Free Solutions, Ltd. 59,393 127,404 0.0% TPG Telecom, Ltd. 31,955 206,907 0.0% #* Transfield Services, Ltd. 222,540 375,706 0.0% Transpacific Industries Group, Ltd. 652,158 518,318 0.1% Treasury Wine Estates, Ltd. 233,547 953,563 0.1% #* UGL, Ltd. 62,043 383,763 0.0% UXC, Ltd. 121,625 90,235 0.0% Villa World, Ltd. 27,033 45,767 0.0% # Village Roadshow, Ltd. 26,871 166,448 0.0% Virgin Australia Holdings, Ltd. (ACI01NXR8) 272,729 -- 0.0% #* Virgin Australia Holdings, Ltd. (B43DQC7) 608,353 206,344 0.0% Vision Eye Institute, Ltd. 48,744 32,303 0.0% Vocus Communications, Ltd. 24,337 126,966 0.0% # Washington H Soul Pattinson & Co., Ltd. 11,782 147,497 0.0% Watpac, Ltd. 44,377 32,751 0.0% # Webjet, Ltd. 10,348 31,279 0.0% Wesfarmers, Ltd. 53,525 2,083,079 0.2% Western Areas, Ltd. 67,891 260,395 0.0% # Westpac Banking Corp. 59,493 1,826,094 0.2% # Westpac Banking Corp. Sponsored ADR 12,390 379,382 0.0% #* Whitehaven Coal, Ltd. 116,793 156,634 0.0% Wide Bay Australia, Ltd. 3,475 16,266 0.0% Woodside Petroleum, Ltd. 60,043 2,132,748 0.2% WorleyParsons, Ltd. 23,712 283,021 0.0% # Wotif.com Holdings, Ltd. 16,657 44,546 0.0% ----------------- -------------- TOTAL AUSTRALIA 91,963,704 7.0% ----------------- -------------- AUSTRIA -- (0.5%) A-TEC Industries AG 1,773 -- 0.0% Agrana Beteiligungs AG 717 64,720 0.0% AMAG Austria Metall AG 878 28,037 0.0% Andritz AG 3,940 190,397 0.0% Atrium European Real Estate, Ltd. 5,591 29,287 0.0% Austria Technologie & Systemtechnik AG 8,528 98,838 0.0% BUWOG AG 2,364 43,704 0.0% CA Immobilien Anlagen AG 920 17,646 0.0% Conwert Immobilien Invest SE 4,534 50,282 0.0% DO & CO AG 1,264 76,437 0.0% Erste Group Bank AG 24,020 612,931 0.1% EVN AG 3,508 44,444 0.0% # Flughafen Wien AG 3,743 343,772 0.0% * IMMOFINANZ AG 34,531 104,540 0.0% * Kapsch TrafficCom AG 698 14,701 0.0% # Lenzing AG 3,520 203,124 0.0% Mayr Melnhof Karton AG 2,002 214,856 0.0% Oberbank AG 693 43,640 0.0% Oesterreichische Post AG 8,848 431,828 0.1% OMV AG 29,983 942,457 0.1% Palfinger AG 2,086 48,612 0.0% POLYTEC Holding AG 3,869 31,928 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- AUSTRIA -- (Continued) Raiffeisen Bank International AG 25,858 $ 553,667 0.1% # RHI AG 6,707 171,934 0.0% # Rosenbauer International AG 487 44,436 0.0% S IMMO AG 8,070 62,151 0.0% Schoeller-Bleckmann Oilfield Equipment AG 2,826 243,547 0.0% Semperit AG Holding 3,086 152,851 0.0% Strabag SE 7,391 159,959 0.0% UNIQA Insurance Group AG 7,063 78,756 0.0% # Verbund AG 3,850 77,909 0.0% Vienna Insurance Group AG Wiener Versicherung Gruppe 3,353 161,416 0.0% Voestalpine AG 9,577 383,635 0.0% Wienerberger AG 55,653 672,995 0.1% * Wolford AG 299 7,303 0.0% Zumtobel Group AG 10,068 177,548 0.0% ----------------- -------------- TOTAL AUSTRIA 6,584,288 0.5% ----------------- -------------- BELGIUM -- (1.4%) * Ablynx NV 6,175 61,745 0.0% Ackermans & van Haaren NV 10,271 1,280,869 0.1% Ageas 55,464 1,854,039 0.2% * AGFA-Gevaert NV 85,332 215,286 0.0% Anheuser-Busch InBev NV 11,977 1,328,182 0.1% Anheuser-Busch InBev NV Sponsored ADR 3,863 428,716 0.1% Arseus NV 11,223 447,712 0.1% Atenor Group 168 7,735 0.0% Banque Nationale de Belgique 77 313,686 0.0% Barco NV 5,707 420,792 0.0% Belgacom SA 39,800 1,503,188 0.1% Cie d'Entreprises CFE 3,168 342,603 0.0% Cie Immobiliere de Belgique SA 233 12,265 0.0% Cie Maritime Belge SA 2,390 46,809 0.0% # Colruyt SA 4,581 208,643 0.0% D'ieteren SA 8,597 311,293 0.0% Deceuninck NV 30,550 75,845 0.0% Delhaize Group SA 33,045 2,259,447 0.2% Delhaize Group SA Sponsored ADR 29,692 505,952 0.1% Econocom Group SA 16,217 104,820 0.0% Elia System Operator SA 3,584 177,786 0.0% #* Euronav NV 21,021 223,095 0.0% # EVS Broadcast Equipment SA 1,968 63,783 0.0% Exmar NV 16,386 229,056 0.0% * Ion Beam Applications 5,092 88,953 0.0% * KBC Groep NV 27,056 1,453,333 0.1% Kinepolis Group NV 5,625 225,320 0.0% Lotus Bakeries 50 58,340 0.0% #* MDxHealth 3,419 16,061 0.0% Melexis NV 5,686 259,637 0.0% * Mobistar SA 18,707 401,126 0.0% # NV Bekaert SA 19,497 612,945 0.1% #* Nyrstar NV 181,952 614,096 0.1% * Picanol 658 21,746 0.0% * RealDolmen NV/SA 1,173 27,895 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- BELGIUM -- (Continued) Recticel SA 12,253 $ 93,488 0.0% * Rentabiliweb Group 846 6,247 0.0% # Resilux 516 68,374 0.0% * RHJ International SA 8,236 44,887 0.0% * Roularta Media Group NV 199 2,994 0.0% Sioen Industries NV 4,242 59,891 0.0% Sipef SA 1,541 106,950 0.0% Solvay SA 14,443 1,971,754 0.2% * Telenet Group Holding NV 2,452 138,739 0.0% #* Tessenderlo Chemie NV 16,218 420,754 0.0% #* ThromboGenics NV 4,993 43,891 0.0% UCB SA 4,943 398,635 0.0% Umicore SA 18,515 726,685 0.1% Van de Velde NV 2,695 124,883 0.0% * Viohalco SA 25,814 83,289 0.0% ----------------- -------------- TOTAL BELGIUM 20,494,260 1.6% ----------------- -------------- CANADA -- (8.5%) * 5N Plus, Inc. 26,415 56,718 0.0% Absolute Software Corp. 7,651 48,131 0.0% # Acadian Timber Corp. 1,693 21,406 0.0% * Advantage Oil & Gas, Ltd. 98,651 422,771 0.1% # AG Growth International, Inc. 2,860 118,557 0.0% AGF Management, Ltd. Class B 28,963 263,148 0.0% Agnico Eagle Mines, Ltd.(008474108) 11,564 271,754 0.0% Agnico Eagle Mines, Ltd.(2009823) 13,840 326,152 0.0% Agrium, Inc.(2213538) 5,000 489,197 0.1% # Agrium, Inc.(008916108) 7,409 724,748 0.1% AGT Food & Ingredient, Inc. 8,412 206,671 0.0% Aimia, Inc. 17,893 257,984 0.0% * Air Canada Class A 4,300 35,825 0.0% AirBoss of America Corp. 2,398 21,277 0.0% Akita Drilling, Ltd. Class A 900 11,044 0.0% Alacer Gold Corp. 97,987 162,580 0.0% * Alamos Gold, Inc.(011527108) 52,395 391,391 0.0% Alamos Gold, Inc.(2411707) 4,796 35,788 0.0% #* Alexco Resource Corp. 12,984 6,451 0.0% Algoma Central Corp. 1,740 24,794 0.0% Algonquin Power & Utilities Corp. 62,701 511,822 0.1% Alimentation Couche-Tard, Inc. Class B 19,600 665,188 0.1% # AltaGas, Ltd. 5,600 231,046 0.0% #* Alterra Power Corp. 14,500 4,117 0.0% # Altus Group, Ltd. 10,000 193,869 0.0% #* Alumasc Group P.L.C. (The) 24,449 56,402 0.0% * Amerigo Resources, Ltd. 23,684 7,460 0.0% Amica Mature Lifestyles, Inc. 5,700 36,464 0.0% # ARC Resources, Ltd. 13,808 325,644 0.0% #* Argonaut Gold, Inc. 65,566 139,620 0.0% Arsenal Energy, Inc. 5,661 41,639 0.0% #* Artek Exploration, Ltd. 14,249 32,618 0.0% Atco, Ltd. Class I 4,600 186,930 0.0% #* Athabasca Oil Corp. 141,451 458,095 0.1% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- CANADA -- (Continued) * ATS Automation Tooling Systems, Inc. 16,045 $ 200,732 0.0% AuRico Gold, Inc. 97,417 312,032 0.0% AutoCanada, Inc. 3,400 188,847 0.0% #* Avigilon Corp. 8,795 121,657 0.0% Axia NetMedia Corp. 1,300 3,091 0.0% #* B2Gold Corp. 323,700 539,955 0.1% Badger Daylighting, Ltd. 9,126 224,213 0.0% #* Ballard Power Systems, Inc. 16,800 47,103 0.0% # Bank of Montreal(2076009) 15,946 1,156,352 0.1% Bank of Montreal(063671101) 22,232 1,614,043 0.1% Bank of Nova Scotia (The)(064149107) 24,948 1,529,312 0.1% Bank of Nova Scotia (The)(2076281) 6,849 419,429 0.0% * Bankers Petroleum, Ltd. 138,069 530,446 0.1% Barrick Gold Corp.(067901108) 104,006 1,234,551 0.1% Barrick Gold Corp.(2024644) 9,774 116,034 0.0% Baytex Energy Corp.(07317Q105) 6,691 204,410 0.0% # Baytex Energy Corp.(B4VGVM3) 900 27,502 0.0% BCE, Inc. 1,155 51,291 0.0% * Bellatrix Exploration, Ltd. 48,102 224,921 0.0% #* Birchcliff Energy, Ltd. 55,543 429,737 0.1% # Bird Construction, Inc. 4,259 50,902 0.0% Black Diamond Group, Ltd. 11,841 202,244 0.0% #* BlackBerry, Ltd.(BCBHZ31) 101,303 1,064,219 0.1% #* BlackBerry, Ltd.(09228F103) 61,363 644,311 0.1% #* BlackPearl Resources, Inc. 94,016 135,137 0.0% #* BNK Petroleum, Inc. 41,642 19,582 0.0% # Bombardier, Inc. Class B 62,760 206,592 0.0% # Bonavista Energy Corp. 92,511 869,253 0.1% # Bonterra Energy Corp. 8,393 377,333 0.0% Boralex, Inc. Class A 13,800 161,013 0.0% * Brookfield Residential Properties, Inc. 8,026 186,604 0.0% #* BRP, Inc. 487 10,608 0.0% Bumi Serpong Damai Tbk PT 33,335 433,306 0.1% CAE, Inc.(2162760) 16,827 215,591 0.0% CAE, Inc.(124765108) 1,450 18,734 0.0% Calfrac Well Services, Ltd. 25,610 306,761 0.0% Calian Technologies, Ltd. 1,000 16,459 0.0% Cameco Corp. 20,249 351,602 0.0% Canaccord Genuity Group, Inc. 60,521 512,281 0.1% * Canacol Energy, Ltd. 29,015 99,114 0.0% # Canadian Energy Services & Technology Corp. 32,261 249,031 0.0% Canadian Imperial Bank of Commerce(2170525) 4,351 397,209 0.0% Canadian Imperial Bank of Commerce(136069101) 3,202 292,503 0.0% Canadian Natural Resources, Ltd.(136385101) 58,066 2,025,342 0.2% Canadian Natural Resources, Ltd.(2171573) 17,000 593,239 0.1% Canadian Oil Sands, Ltd. 39,807 623,745 0.1% # Canadian Tire Corp., Ltd. Class A 10,016 1,098,156 0.1% Canadian Western Bank 19,600 656,493 0.1% Canam Group, Inc. Class A 11,906 103,526 0.0% CanElson Drilling, Inc. 46,447 227,073 0.0% # Canexus Corp. 32,646 112,098 0.0% * Canfor Corp. 24,916 580,095 0.1% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- CANADA -- (Continued) Canfor Pulp Products, Inc. 18,452 $ 206,286 0.0% # CanWel Building Materials Group, Ltd. 991 5,469 0.0% Canyon Services Group, Inc. 13,638 131,776 0.0% Capital Power Corp. 11,284 256,106 0.0% # Capstone Infrastructure Corp. 58,101 220,124 0.0% * Capstone Mining Corp. 146,338 273,966 0.0% Cascades, Inc. 38,096 211,935 0.0% * Catamaran Corp.(B8J4N87) 4,000 190,586 0.0% * Catamaran Corp.(B3N9ZT8) 4,229 201,596 0.0% # Cathedral Energy Services, Ltd. 19,963 55,086 0.0% CCL Industries, Inc. Class B 6,734 680,779 0.1% * Celestica, Inc.(2263362) 66,931 735,199 0.1% * Celestica, Inc.(15101Q108) 6,032 66,231 0.0% Cenovus Energy, Inc.(B57FG04) 6,900 170,748 0.0% Cenovus Energy, Inc.(15135U109) 4,508 111,618 0.0% Centerra Gold, Inc. 83,430 325,710 0.0% #* Cequence Energy, Ltd. 79,682 101,100 0.0% Cervus Equipment Corp. 1,394 22,696 0.0% * CGI Group, Inc. Class A(39945C109) 7,633 262,194 0.0% #* CGI Group, Inc. Class A(2159740) 7,471 256,469 0.0% * China Gold International Resources Corp., Ltd. 73,974 141,772 0.0% #* Chinook Energy, Inc. 38,922 53,874 0.0% CI Financial Corp. 5,639 163,959 0.0% # Cineplex, Inc. 10,457 393,953 0.0% # Clarke, Inc. 3,800 32,941 0.0% * Claude Resources, Inc. 31,500 6,149 0.0% Clearwater Seafoods, Inc. 3,787 37,667 0.0% Cogeco Cable, Inc. 11,395 621,389 0.1% Cogeco, Inc. 2,254 113,455 0.0% Colabor Group, Inc. 7,067 22,197 0.0% COM DEV International, Ltd. 38,195 125,391 0.0% Computer Modelling Group, Ltd. 21,330 221,618 0.0% * Connacher Oil and Gas, Ltd. 159,621 14,163 0.0% Constellation Software, Inc. 1,092 307,626 0.0% Contrans Group, Inc. Class A 8,289 109,804 0.0% #* Copper Mountain Mining Corp. 76,683 142,201 0.0% Corby Spirit and Wine, Ltd. 2,450 45,694 0.0% #* Corridor Resources, Inc. 5,600 7,155 0.0% # Corus Entertainment, Inc. Class B 46,539 856,412 0.1% Cott Corp.(22163N106) 4,928 29,913 0.0% Cott Corp.(2228952) 38,160 231,252 0.0% # Crescent Point Energy Corp.(B67C8W8) 8,034 265,531 0.0% Crescent Point Energy Corp.(22576C101) 5,965 197,024 0.0% * Crew Energy, Inc. 66,491 415,329 0.0% * DeeThree Exploration, Ltd. 45,980 262,323 0.0% * Delphi Energy Corp. 70,437 131,868 0.0% #* Denison Mines Corp. 118,547 111,494 0.0% * Descartes Systems Group, Inc. (The) 9,080 128,097 0.0% DH Corp. 17,600 562,176 0.1% * DHX Media, Ltd. 11,800 104,803 0.0% # DirectCash Payments, Inc. 5,300 74,770 0.0% Dollarama, Inc. 2,433 213,758 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- CANADA -- (Continued) * Dominion Diamond Corp.(B95LX89) 18,256 $ 255,443 0.0% * Dominion Diamond Corp.(257287102) 29,684 415,873 0.0% Dorel Industries, Inc. Class B 12,111 376,316 0.0% #* DragonWave, Inc. 6,969 7,420 0.0% #* Dundee Precious Metals, Inc. 29,945 85,288 0.0% E-L Financial Corp., Ltd. 111 67,956 0.0% Eldorado Gold Corp. 211,503 1,155,990 0.1% # Emera, Inc. 2,100 70,599 0.0% Empire Co., Ltd. 6,100 422,002 0.1% # Enbridge Income Fund Holdings, Inc. 19,757 520,636 0.1% Encana Corp.(2793193) 13,705 255,361 0.0% Encana Corp.(292505104) 20,152 375,432 0.0% * Endeavour Mining Corp. 154,142 65,648 0.0% #* Endeavour Silver Corp. 39,314 119,995 0.0% Enerflex, Ltd. 21,928 313,243 0.0% * Energy Fuels, Inc.(BFV4XW8) 2,144 12,971 0.0% #* Energy Fuels, Inc.(BFV4XV7) 5,605 33,870 0.0% Enerplus Corp.(292766102) 39,171 560,145 0.1% # Enerplus Corp.(B584T89) 20,675 296,078 0.0% Enghouse Systems, Ltd. 3,027 101,683 0.0% Ensign Energy Services, Inc. 56,452 637,123 0.1% #* Epsilon Energy, Ltd. 25,234 82,169 0.0% Equitable Group, Inc. 2,250 130,522 0.0% * Equity Financial Holdings, Inc. 800 6,026 0.0% #* Essential Energy Services Trust 79,421 142,345 0.0% Evertz Technologies, Ltd. 5,026 75,766 0.0% * Excellon Resources, Inc. 5,300 3,856 0.0% # Exchange Income Corp. 3,474 59,305 0.0% Exco Technologies, Ltd. 5,657 55,062 0.0% #* EXFO, Inc. 7,513 27,931 0.0% # Extendicare, Inc. 31,304 226,645 0.0% Fairfax Financial Holdings, Ltd. 3,568 1,630,159 0.1% Fiera Capital Corp. 3,500 40,091 0.0% Finning International, Inc. 24,010 619,929 0.1% First Capital Realty, Inc. 6,035 98,580 0.0% #* First Majestic Silver Corp.(2833583) 12,400 63,593 0.0% #* First Majestic Silver Corp.(32076V103) 26,297 134,904 0.0% First National Financial Corp. 600 12,404 0.0% First Quantum Minerals, Ltd. 93,427 1,409,218 0.1% FirstService Corp.(2350231) 4,219 222,957 0.0% FirstService Corp.(33761N109) 1,018 53,720 0.0% #* Fortress Paper, Ltd. Class A 2,299 4,243 0.0% * Fortuna Silver Mines, Inc. 55,988 193,739 0.0% Gamehost, Inc. 3,082 45,531 0.0% Genesis Land Development Corp. 10,800 42,451 0.0% # Genworth MI Canada, Inc. 17,365 607,055 0.1% George Weston, Ltd. 6,237 509,563 0.1% Gibson Energy, Inc. 11,312 329,007 0.0% Gildan Activewear, Inc. 6,523 388,585 0.0% # Glacier Media, Inc. 3,000 4,445 0.0% # GLENTEL, Inc. 3,800 33,851 0.0% Gluskin Sheff + Associates, Inc. 9,463 247,186 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- CANADA -- (Continued) * GLV, Inc. Class A 8,028 $ 16,383 0.0% GMP Capital, Inc. 20,353 120,451 0.0% Goldcorp, Inc.(380956409) 23,766 446,325 0.1% Goldcorp, Inc.(2676302) 12,207 229,074 0.0% #* Golden Star Resources, Ltd. 73,980 21,005 0.0% * Gran Tierra Energy, Inc.(38500T101) 1,100 5,016 0.0% * Gran Tierra Energy, Inc.(B2PPCS5) 125,255 571,235 0.1% * Great Canadian Gaming Corp. 14,900 270,224 0.0% #* Great Panther Silver, Ltd. 29,633 20,771 0.0% Great-West Lifeco, Inc. 6,100 170,922 0.0% * Heroux-Devtek, Inc. 10,096 91,012 0.0% High Liner Foods, Inc. 4,987 97,479 0.0% # HNZ Group, Inc. 2,200 38,786 0.0% Home Capital Group, Inc. 5,000 239,652 0.0% # Horizon North Logistics, Inc. 38,355 108,220 0.0% HudBay Minerals, Inc.(B05BQ98) 3,790 29,069 0.0% HudBay Minerals, Inc.(B05BDX1) 62,709 480,173 0.1% Hudson's Bay Co. 12,448 216,036 0.0% Husky Energy, Inc. 28,300 683,238 0.1% * IAMGOLD Corp.(450913108) 23,010 43,489 0.0% * IAMGOLD Corp.(2446646) 157,060 298,220 0.0% # IGM Financial, Inc. 3,000 119,995 0.0% #* Imax Corp.(2014258) 5,400 159,022 0.0% #* Imax Corp.(45245E109) 7,725 227,578 0.0% * Imperial Metals Corp. 6,005 50,776 0.0% Imperial Oil, Ltd.(453038408) 3,008 144,023 0.0% Imperial Oil, Ltd.(2454241) 776 37,339 0.0% * Imris, Inc. 4,300 1,450 0.0% # Indigo Books & Music, Inc. 1,600 17,973 0.0% # Industrial Alliance Insurance & Financial Services, Inc. 24,398 983,237 0.1% Innergex Renewable Energy, Inc. 30,613 299,598 0.0% Intact Financial Corp. 5,604 375,755 0.0% # Inter Pipeline, Ltd. 5,271 166,074 0.0% * Interfor Corp. 37,512 570,477 0.1% Intertape Polymer Group, Inc. 18,164 266,082 0.0% #* Ithaca Energy, Inc. 132,288 169,021 0.0% #* Ivanhoe Energy, Inc. 2,745 3,093 0.0% Jean Coutu Group PJC, Inc. (The) Class A 5,573 127,773 0.0% Just Energy Group, Inc.(B693818) 2,300 11,201 0.0% # Just Energy Group, Inc.(B63MCN1) 12,408 60,441 0.0% # K-Bro Linen, Inc. 1,828 64,229 0.0% * Katanga Mining, Ltd. 83,398 28,859 0.0% * Kelt Exploration, Ltd. 3,000 25,261 0.0% Keyera Corp. 3,900 310,256 0.0% # Killam Properties, Inc. 13,100 128,321 0.0% * Kinross Gold Corp.(496902404) 4,318 9,284 0.0% #* Kinross Gold Corp.(B03Z841) 151,404 323,751 0.0% #* Kirkland Lake Gold, Inc. 40,588 126,044 0.0% * Knight Therapeutics, Inc. 1,963 10,137 0.0% #* Lake Shore Gold Corp. 250,698 182,399 0.0% Laurentian Bank of Canada 13,192 580,329 0.1% * Legacy Oil + Gas, Inc. 97,329 396,380 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- CANADA -- (Continued) # Leisureworld Senior Care Corp. 12,345 $ 155,209 0.0% Leon's Furniture, Ltd. 5,738 73,211 0.0% * Leucrotta Exploration, Inc. 33,142 49,402 0.0% # Lightstream Resources, Ltd. 116,588 308,266 0.0% Linamar Corp. 16,431 839,300 0.1% # Liquor Stores N.A., Ltd. 11,917 137,457 0.0% Loblaw Cos., Ltd. 8,093 421,631 0.1% # Long Run Exploration, Ltd. 87,044 246,369 0.0% Lucara Diamond Corp. 87,142 176,287 0.0% * Lundin Mining Corp. 57,546 256,827 0.0% MacDonald Dettwiler & Associates, Ltd. 6,138 468,036 0.1% Magellan Aerospace Corp. 6,936 76,126 0.0% Magna International, Inc. 16,323 1,611,082 0.1% * Mainstreet Equity Corp. 705 25,515 0.0% Major Drilling Group International, Inc. 31,744 185,329 0.0% Mandalay Resources Corp. 102,700 87,478 0.0% # Manitoba Telecom Services, Inc. 13,368 352,392 0.0% Manulife Financial Corp.(56501R106) 69,200 1,312,724 0.1% Manulife Financial Corp.(2492519) 37,301 707,926 0.1% Maple Leaf Foods, Inc. 46,308 801,212 0.1% Martinrea International, Inc. 44,292 469,624 0.1% #* Maxim Power Corp. 2,200 5,075 0.0% # McCoy Global, Inc. 4,284 18,169 0.0% Medical Facilities Corp. 8,215 131,347 0.0% * MEG Energy Corp. 15,981 385,682 0.0% Melcor Developments, Ltd. 3,353 73,215 0.0% # Methanex Corp. 11,900 707,211 0.1% Metro, Inc. 11,500 808,127 0.1% #* Migao Corp. 6,589 8,535 0.0% * Mitel Networks Corp. 17,008 158,603 0.0% #* Mood Media Corp. 19,033 9,119 0.0% Morneau Shepell, Inc. 13,596 200,734 0.0% # MTY Food Group, Inc. 2,761 80,328 0.0% # Mullen Group, Ltd. 26,467 514,287 0.1% # National Bank of Canada 25,294 1,182,279 0.1% * Neptune Technologies & Bioressources, Inc. 6,516 10,754 0.0% Nevsun Resources, Ltd. 110,483 373,488 0.0% # New Flyer Industries, Inc. 11,460 132,186 0.0% * New Gold, Inc. 145,754 528,933 0.1% Newalta Corp. 18,828 339,958 0.0% #* Niko Resources, Ltd. 27,147 7,467 0.0% Norbord, Inc. 7,302 142,859 0.0% North American Energy Partners, Inc.(B1HTYS2) 5,546 29,623 0.0% North American Energy Partners, Inc.(656844107) 11,011 59,569 0.0% #* North American Palladium, Ltd. 37,050 5,917 0.0% North West Co., Inc. (The) 12,064 249,404 0.0% # Northland Power, Inc. 24,144 359,252 0.0% #* Novagold Resources, Inc. 42,029 103,296 0.0% * NuVista Energy, Ltd. 50,127 461,219 0.1% #* OceanaGold Corp. 178,600 291,579 0.0% Onex Corp. 6,200 349,814 0.0% Open Text Corp. 6,200 342,443 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- CANADA -- (Continued) * Orvana Minerals Corp. 13,000 $ 3,518 0.0% * Osisko Gold Royalties, Ltd. 19,053 238,023 0.0% Pacific Rubiales Energy Corp. 125,651 1,895,273 0.2% * Painted Pony Petroleum, Ltd. 28,386 268,988 0.0% # Pan American Silver Corp.(697900108) 50,317 464,426 0.1% Pan American Silver Corp.(2669272) 25,434 235,145 0.0% * Paramount Resources, Ltd. Class A 3,054 127,899 0.0% * Parex Resources, Inc. 53,354 489,017 0.1% # Parkland Fuel Corp. 19,002 371,762 0.0% Pason Systems, Inc. 17,666 422,743 0.1% * Pembina Pipeline Corp.(B4PPQG5) 3,496 144,874 0.0% # Pembina Pipeline Corp.(B4PT2P8) 4,324 179,377 0.0% # Pengrowth Energy Corp. 149,634 604,086 0.1% Penn West Petroleum, Ltd.(707887105) 79,923 361,252 0.0% # Penn West Petroleum, Ltd.(B63FY34) 42,468 192,171 0.0% * Performance Sports Group, Ltd. 6,734 116,510 0.0% #* Perpetual Energy, Inc. 52,190 64,829 0.0% Peyto Exploration & Development Corp. 4,810 135,759 0.0% # PHX Energy Services Corp. 14,152 147,164 0.0% Pizza Pizza Royalty Corp. 1,000 12,138 0.0% * Poseidon Concepts Corp. 6,541 10 0.0% Potash Corp. of Saskatchewan, Inc. 10,712 366,029 0.0% Precision Drilling Corp.(74022D308) 20,286 168,780 0.0% Precision Drilling Corp.(B5YPLH9) 83,917 699,153 0.1% # Premium Brands Holdings Corp. 4,923 108,109 0.0% * Primero Mining Corp.(74164W106) 6,304 21,560 0.0% #* Primero Mining Corp.(B4Z8FV2) 26,499 90,521 0.0% Progressive Waste Solutions, Ltd.(74339G101) 10,715 313,199 0.0% Progressive Waste Solutions, Ltd.(B3DJGB7) 16,623 485,541 0.1% # Pulse Seismic, Inc. 14,104 37,167 0.0% Pure Technologies, Ltd. 423 2,991 0.0% * QLT, Inc. 3,731 14,864 0.0% Quebecor, Inc. Class B 16,000 410,700 0.0% * Questerre Energy Corp. Class A 16,560 10,726 0.0% Reitmans Canada, Ltd. 700 3,733 0.0% Reitmans Canada, Ltd. Class A 20,260 110,553 0.0% Richelieu Hardware, Ltd. 4,307 204,335 0.0% #* Richmont Mines, Inc. 10,500 21,614 0.0% Ritchie Bros Auctioneers, Inc.(767744105) 11,313 275,924 0.0% # Ritchie Bros Auctioneers, Inc.(2345390) 3,200 78,222 0.0% * RMP Energy, Inc. 56,537 296,969 0.0% * Rock Energy, Inc. 16,987 83,349 0.0% # Rocky Mountain Dealerships, Inc. 6,700 63,430 0.0% # Rogers Sugar, Inc. 36,148 142,405 0.0% RONA, Inc. 62,564 763,280 0.1% Royal Bank of Canada(780087102) 12,668 901,582 0.1% # Royal Bank of Canada(2754383) 14,000 993,869 0.1% # Russel Metals, Inc. 10,262 299,105 0.0% * San Gold Corp. 108,146 5,278 0.0% #* Sandstorm Gold, Ltd. 40,209 115,591 0.0% * Sandvine Corp. 26,856 66,720 0.0% Saputo, Inc. 11,022 312,749 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- CANADA -- (Continued) Savanna Energy Services Corp. 39,593 $ 213,589 0.0% * Scorpio Mining Corp. 31,700 5,344 0.0% # Sears Canada, Inc. 7,764 74,743 0.0% Secure Energy Services, Inc. 13,800 255,540 0.0% * SEMAFO, Inc. 113,095 275,952 0.0% Shaw Communications, Inc. Class B(82028K200) 2,103 54,005 0.0% # Shaw Communications, Inc. Class B(2801836) 4,800 123,253 0.0% ShawCor, Ltd. 13,467 593,263 0.1% Sherritt International Corp. 175,629 436,326 0.1% #* Sierra Wireless, Inc.(2418968) 11,300 309,207 0.0% #* Sierra Wireless, Inc.(826516106) 6,130 167,839 0.0% #* Silver Standard Resources, Inc.(82823L106) 19,769 86,391 0.0% #* Silver Standard Resources, Inc.(2218458) 28,273 123,171 0.0% Silver Wheaton Corp. 9,100 158,173 0.0% SNC-Lavalin Group, Inc. 2,900 124,949 0.0% * Solium Capital, Inc. 6,894 49,852 0.0% #* Southern Pacific Resource Corp. 135,301 3,601 0.0% * SouthGobi Resources, Ltd. 14,057 7,234 0.0% # Sprott, Inc. 56,209 120,691 0.0% # Spyglass Resources Corp. 80,669 75,870 0.0% * St Andrew Goldfields, Ltd. 48,000 10,008 0.0% Stantec, Inc. 6,512 412,601 0.0% Stella-Jones, Inc. 6,100 177,147 0.0% Strad Energy Services, Ltd. 4,059 16,603 0.0% Stuart Olson, Inc. 6,050 40,958 0.0% # Student Transportation, Inc. 17,176 107,898 0.0% Sun Life Financial, Inc.(2566124) 21,576 767,474 0.1% Sun Life Financial, Inc.(866796105) 6,484 230,830 0.0% Suncor Energy, Inc.(867224107) 82,938 2,947,616 0.2% Suncor Energy, Inc.(B3NB1P2) 44,972 1,596,894 0.1% * SunOpta, Inc.(2817510) 14,332 202,953 0.0% * SunOpta, Inc.(8676EP108) 8,718 123,447 0.0% # Superior Plus Corp. 35,819 388,048 0.0% # Surge Energy, Inc. 72,274 400,792 0.0% #* TAG Oil, Ltd. 23,355 32,948 0.0% Talisman Energy, Inc.(87425E103) 167,418 1,068,127 0.1% Talisman Energy, Inc.(2068299) 148,655 948,343 0.1% * Taseko Mines, Ltd. 74,175 97,404 0.0% # Teck Resources, Ltd. Class B(2879327) 10,991 173,683 0.0% Teck Resources, Ltd. Class B(878742204) 27,716 437,358 0.1% # TELUS Corp. 10,600 379,871 0.0% * Tembec, Inc. 27,377 69,472 0.0% #* Teranga Gold Corp.(B5TDK82) 40,596 15,849 0.0% #* Teranga Gold Corp.(B4L8QT1) 11,133 4,918 0.0% #* Theratechnologies, Inc. 2,900 978 0.0% #* Thompson Creek Metals Co., Inc.(884768102) 9,468 17,895 0.0% #* Thompson Creek Metals Co., Inc.(2439806) 80,157 151,488 0.0% # Thomson Reuters Corp. 10,416 387,510 0.0% Tim Hortons, Inc.(B4R2V25) 3,300 267,385 0.0% Tim Hortons, Inc.(88706M103) 2,204 178,568 0.0% * Timmins Gold Corp. 53,931 51,680 0.0% TMX Group, Ltd. 6,442 309,854 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- CANADA -- (Continued) # TORC Oil & Gas, Ltd. 44,281 $ 415,286 0.0% Toromont Industries, Ltd. 20,141 480,896 0.1% Toronto-Dominion Bank (The)(2897222) 42,258 2,079,811 0.2% Toronto-Dominion Bank (The)(891160509) 5,699 280,733 0.0% # Torstar Corp. Class B 30,474 177,915 0.0% Total Energy Services, Inc. 11,784 204,721 0.0% * Tourmaline Oil Corp. 6,206 222,624 0.0% # TransAlta Corp.(2901628) 24,788 241,051 0.0% TransAlta Corp.(89346D107) 62,988 611,613 0.1% TransCanada Corp. 12,267 604,615 0.1% Transcontinental, Inc. Class A 37,532 512,504 0.1% TransForce, Inc. 24,833 607,247 0.1% TransGlobe Energy Corp. 35,703 154,907 0.0% Trican Well Service, Ltd. 88,845 796,180 0.1% # Trilogy Energy Corp. 4,100 63,880 0.0% # Trinidad Drilling, Ltd. 80,521 524,399 0.1% * Turquoise Hill Resources, Ltd.(900435108) 17,904 59,978 0.0% * Turquoise Hill Resources, Ltd.(B7WJ1F5) 75,598 253,547 0.0% * TVA Group, Inc. Class B 653 4,768 0.0% # Twin Butte Energy, Ltd. 140,403 186,863 0.0% Uni-Select, Inc. 846 21,288 0.0% # Valener, Inc. 7,789 111,266 0.0% # Veresen, Inc. 10,293 161,557 0.0% * Vermilion Energy, Inc.(923725105) 1,400 78,736 0.0% # Vermilion Energy, Inc.(B607XS1) 900 51,075 0.0% Vicwest, Inc. 5,723 52,708 0.0% # Wajax Corp. 8,209 262,720 0.0% * Wesdome Gold Mines, Ltd. 14,500 9,392 0.0% West Fraser Timber Co., Ltd. 12,562 659,058 0.1% Western Energy Services Corp. 19,695 124,945 0.0% Western Forest Products, Inc. 143,065 294,495 0.0% # WesternOne, Inc. 13,422 75,265 0.0% Westjet Airlines, Ltd. 1,400 39,613 0.0% Westshore Terminals Investment Corp. 11,689 356,255 0.0% Whistler Blackcomb Holdings, Inc. 10,624 179,384 0.0% # Whitecap Resources, Inc. 42,591 551,353 0.1% Wi-Lan, Inc. 40,376 133,625 0.0% Winpak, Ltd. 3,603 95,106 0.0% # WSP Global, Inc. 20,559 625,863 0.1% * Xtreme Drilling and Coil Services Corp. 17,787 49,082 0.0% Yamana Gold, Inc.(2219279) 148,540 591,760 0.1% Yamana Gold, Inc.(98462Y100) 6,868 27,335 0.0% * Yellow Media, Ltd. 800 11,684 0.0% # Zargon Oil & Gas, Ltd. 16,494 89,710 0.0% ----------------- -------------- TOTAL CANADA 122,444,688 9.4% ----------------- -------------- CHINA -- (0.0%) * China Chuanglian Education Group, Ltd. 80,000 3,147 0.0% * Hanfeng Evergreen, Inc. 5,700 1,309 0.0% Hopewell Highway Infrastructure, Ltd. 10,725 5,187 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- CHINA -- (Continued) * Technovator International, Ltd. 146,000 $ 65,063 0.0% ----------------- -------------- TOTAL CHINA 74,706 0.0% ----------------- -------------- DENMARK -- (1.4%) ALK-Abello A.S. 2,748 309,910 0.0% * Alm Brand A.S. 40,716 222,280 0.0% Ambu A.S. Class B 2,040 144,150 0.0% AP Moeller - Maersk A.S. Class A 168 382,192 0.0% AP Moeller - Maersk A.S. Class B 397 926,430 0.1% * Auriga Industries A.S. Class B 5,968 308,372 0.0% #* Bang & Olufsen A.S. 17,643 136,938 0.0% * Bavarian Nordic A.S. 11,500 356,099 0.0% Carlsberg A.S. Class B 6,784 598,339 0.1% Chr Hansen Holding A.S. 11,754 473,497 0.1% Coloplast A.S. Class B 3,661 319,097 0.0% # D/S Norden A.S. 12,539 329,735 0.0% Danske Bank A.S. 32,955 904,954 0.1% Dfds A.S. 1,459 123,654 0.0% DSV A.S. 31,347 938,252 0.1% East Asiatic Co., Ltd. A.S. 3,691 33,248 0.0% # FLSmidth & Co. A.S. 12,002 544,165 0.1% * Genmab A.S. 7,527 328,114 0.0% GN Store Nord A.S. 46,058 1,071,652 0.1% H Lundbeck A.S. 9,527 202,023 0.0% * H+H International A.S. Class B 1,940 13,500 0.0% Harboes Bryggeri A.S. Class B 511 7,183 0.0% IC Group A.S. 3,217 82,373 0.0% Jeudan A.S. 667 62,701 0.0% * Jyske Bank A.S. 30,655 1,652,878 0.1% NKT Holding A.S. 10,884 564,570 0.1% Nordjyske Bank A.S. 140 3,043 0.0% Norresundby Bank A.S. 195 9,851 0.0% Novo Nordisk A.S. Class B 31,576 1,427,321 0.1% Novozymes A.S. Class B 7,154 331,278 0.0% Pandora A.S. 12,272 1,034,670 0.1% * Parken Sport & Entertainment A.S. 848 8,715 0.0% PER Aarsleff A.S. Class B 751 124,995 0.0% Ringkjoebing Landbobank A.S. 1,399 269,595 0.0% Rockwool International A.S. Class B 1,772 257,968 0.0% * Royal UNIBREW 3,788 619,199 0.1% Schouw & Co. 6,091 269,866 0.0% SimCorp A.S. 8,217 247,975 0.0% Solar A.S. Class B 2,269 105,064 0.0% Spar Nord Bank A.S. 31,713 320,567 0.0% * Sydbank A.S. 32,488 1,031,363 0.1% TDC A.S. 80,226 612,690 0.1% Tivoli A.S. 1 503 0.0% * Topdanmark A.S. 33,455 1,064,869 0.1% * Torm A.S. 166,552 10,665 0.0% Tryg A.S. 2,241 242,510 0.0% United International Enterprises 798 142,241 0.0% * Vestas Wind Systems A.S. 37,011 1,235,241 0.1% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- DENMARK -- (Continued) * Vestjysk Bank A.S. 1,419 $ 2,704 0.0% * William Demant Holding A.S. 2,926 221,766 0.0% * Zealand Pharma A.S. 1,167 13,366 0.0% ----------------- -------------- TOTAL DENMARK 20,644,331 1.6% ----------------- -------------- FINLAND -- (1.9%) Afarak Group Oyj 27,643 8,644 0.0% Ahlstrom Oyj 6,489 59,256 0.0% Alma Media Oyj 6,053 23,759 0.0% Amer Sports Oyj 47,606 912,445 0.1% Apetit Oyj 276 4,940 0.0% Aspo Oyj 2,729 24,220 0.0% Atria Oyj 3,573 31,547 0.0% Bank of Aland P.L.C. Class B 5 63 0.0% BasWare Oyj 628 31,512 0.0% # Cargotec Oyj 14,768 445,816 0.1% Caverion Corp. 19,090 153,522 0.0% Citycon Oyj 62,377 202,096 0.0% Cramo Oyj 5,196 75,780 0.0% Elektrobit Oyj 47,687 205,222 0.0% Elisa Oyj 36,412 1,000,249 0.1% F-Secure Oyj 29,375 71,745 0.0% * Finnair Oyj 30,953 96,684 0.0% * Finnlines Oyj 894 16,919 0.0% # Fiskars Oyj Abp 5,171 143,954 0.0% Fortum Oyj 107,420 2,491,261 0.2% HKScan Oyj Class A 13,510 57,464 0.0% Huhtamaki Oyj 36,947 937,536 0.1% Ilkka-Yhtyma Oyj 3,592 9,585 0.0% Kemira Oyj 36,837 475,696 0.1% Kesko Oyj Class A 817 29,674 0.0% Kesko Oyj Class B 31,584 1,197,840 0.1% # Kone Oyj Class B 13,756 592,443 0.1% # Konecranes Oyj 10,325 289,334 0.0% Lassila & Tikanoja Oyj 12,906 238,131 0.0% * Lemminkainen Oyj 2,421 35,937 0.0% Metsa Board Oyj 89,681 400,591 0.0% Metso Oyj 21,081 688,761 0.1% Munksjo Oyj 3,591 33,804 0.0% # Neste Oil Oyj 73,717 1,590,772 0.1% Nokia Oyj 340,765 2,847,396 0.2% Nokian Renkaat Oyj 39,545 1,117,165 0.1% Okmetic Oyj 2,360 14,090 0.0% Olvi Oyj Class A 2,656 78,401 0.0% * Oriola-KD Oyj Class B 40,778 134,846 0.0% Orion Oyj Class A 3,872 130,099 0.0% Orion Oyj Class B 25,776 876,683 0.1% #* Outokumpu Oyj 57,760 327,911 0.0% # Outotec Oyj 55,742 368,902 0.0% PKC Group Oyj 8,715 174,792 0.0% Ponsse Oy 608 9,225 0.0% #* Poyry Oyj 6,843 27,486 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- FINLAND -- (Continued) Raisio Oyj Class V 42,361 $ 211,307 0.0% Ramirent Oyj 32,851 262,189 0.0% Saga Furs Oyj 284 8,955 0.0% Sampo Oyj Class A 17,165 822,502 0.1% Sanoma Oyj 32,889 189,253 0.0% Stockmann Oyj Abp(5462371) 2,666 29,433 0.0% # Stockmann Oyj Abp(5462393) 9,801 108,574 0.0% Stora Enso Oyj Class R 248,236 2,049,960 0.2% #* Talvivaara Mining Co. P.L.C. 190,260 7,320 0.0% Technopolis Oyj 19,201 97,611 0.0% Tieto Oyj 30,114 763,513 0.1% Tikkurila Oyj 12,412 256,322 0.0% UPM-Kymmene Oyj 170,168 2,699,292 0.2% Uponor Oyj 16,765 222,845 0.0% Vacon Oyj 5,785 245,126 0.0% Vaisala Oyj Class A 1,578 44,464 0.0% Valmet OYJ 8,626 91,279 0.0% Wartsila Oyj Abp 9,272 429,922 0.0% # YIT Oyj 29,594 197,982 0.0% ----------------- --------------- TOTAL FINLAND 27,422,047 2.1% ----------------- --------------- FRANCE -- (6.0%) Accor SA 5,760 241,991 0.0% Actia Group 1,492 8,902 0.0% Aeroports de Paris 1,173 138,841 0.0% #* Air France-KLM 45,894 387,718 0.0% Akka Technologies SA 2,247 73,478 0.0% Albioma SA 11,771 255,314 0.0% * Alcatel-Lucent 261,297 798,335 0.1% * Alstom SA 8,571 299,156 0.0% Altamir 2,833 35,522 0.0% Alten SA 8,403 359,422 0.0% Altran Technologies SA 39,678 389,813 0.0% April 6,744 100,973 0.0% #* Archos 3,060 8,046 0.0% # Arkema SA 7,800 481,431 0.0% Assystem 3,682 74,350 0.0% AtoS 16,452 1,136,969 0.1% Aubay 672 7,986 0.0% Audika Groupe 1,518 22,343 0.0% AXA SA 80,813 1,866,661 0.2% AXA SA Sponsored ADR 14,588 338,587 0.0% # Axway Software SA 1,450 30,307 0.0% #* Beneteau SA 8,579 126,963 0.0% # Bigben Interactive 1,386 9,015 0.0% BioMerieux 2,454 258,806 0.0% BNP Paribas SA 44,274 2,782,269 0.2% Boiron SA 2,387 212,503 0.0% # Bollore SA(4572709) 599 283,986 0.0% * Bollore SA(BQR9N80) 2 915 0.0% Bonduelle S.C.A. 5,814 146,422 0.0% Bongrain SA 1,522 103,496 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- FRANCE -- (Continued) Bouygues SA 45,309 $ 1,566,512 0.1% Bureau Veritas SA 10,940 270,589 0.0% Burelle SA 58 39,591 0.0% Cap Gemini SA 13,755 905,026 0.1% Carrefour SA 44,139 1,293,728 0.1% Casino Guichard Perrachon SA 18,881 1,935,931 0.2% * Cegedim SA 820 26,325 0.0% Cegid Group 3,249 119,583 0.0% #* CGG SA 18,610 107,518 0.0% #* CGG SA Sponsored ADR 16,300 95,518 0.0% * Chargeurs SA 9,101 54,571 0.0% # Christian Dior SA 1,359 240,478 0.0% Cie de St-Gobain 72,210 3,103,936 0.3% Cie Generale des Etablissements Michelin 14,759 1,281,921 0.1% * Club Mediterranee SA 7,116 200,485 0.0% CNP Assurances 28,399 530,924 0.1% Credit Agricole SA 132,414 1,959,499 0.2% Dassault Systemes 2,688 170,448 0.0% Derichebourg SA 41,333 103,749 0.0% Devoteam SA 983 15,746 0.0% Edenred 9,300 257,817 0.0% Eiffage SA 8,750 465,176 0.0% Electricite de France SA 21,502 634,919 0.1% Electricite de Strasbourg SA 88 11,542 0.0% #* Eramet 2,838 263,684 0.0% Essilor International SA 7,807 862,064 0.1% * Esso SA Francaise 1,062 41,104 0.0% * Etablissements Maurel et Prom 36,130 431,830 0.0% Euler Hermes Group 3,745 366,857 0.0% #* Euro Disney SCA 2,997 11,296 0.0% Eurofins Scientific SE 1,827 462,123 0.0% Eutelsat Communications SA 12,772 414,053 0.0% # Exel Industries Class A 69 3,909 0.0% Faiveley Transport SA 2,273 136,695 0.0% Faurecia 20,934 678,096 0.1% Fimalac 1,034 69,365 0.0% Fleury Michon SA 571 32,968 0.0% * GameLoft SE 9,353 48,016 0.0% GDF Suez 142,877 3,469,042 0.3% GL Events 3,508 70,112 0.0% Groupe Crit 1,664 85,281 0.0% Groupe Eurotunnel SA 83,494 1,055,301 0.1% Groupe Flo 2,320 8,206 0.0% * Groupe Fnac 972 40,930 0.0% # Groupe Gorge 1,095 25,285 0.0% Guerbet 2,210 102,787 0.0% Haulotte Group SA 6,728 101,744 0.0% Havas SA 67,887 549,120 0.1% * Hi-Media SA 23,966 76,319 0.0% Iliad SA 1,081 236,356 0.0% Imerys SA 4,908 352,187 0.0% # Ingenico 7,163 713,602 0.1% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- FRANCE -- (Continued) Interparfums SA 3,033 $ 72,848 0.0% Ipsen SA 4,163 204,630 0.0% IPSOS 9,922 257,323 0.0% Jacquet Metal Service 6,357 108,488 0.0% JCDecaux SA 6,656 220,918 0.0% Kering 3,675 709,219 0.1% Korian-Medica 16,007 578,218 0.1% Lafarge SA 30,333 2,105,120 0.2% Lagardere SCA 45,165 1,099,150 0.1% Laurent-Perrier 548 43,942 0.0% * Le Noble Age 968 23,529 0.0% Lectra 4,783 47,198 0.0% Legrand SA 10,454 562,647 0.1% Linedata Services 385 11,055 0.0% LISI 6,675 167,478 0.0% LVMH Moet Hennessy Louis Vuitton SA 4,848 822,919 0.1% * Manitou BF SA 3,827 53,248 0.0% Manutan International 336 16,234 0.0% Mersen 5,211 125,375 0.0% #* METabolic EXplorer SA 10,722 42,516 0.0% Metropole Television SA 13,912 240,757 0.0% MGI Coutier 5,682 84,232 0.0% Montupet 2,611 202,648 0.0% Natixis SA 139,423 959,715 0.1% # Naturex 2,602 181,092 0.0% Neopost SA 8,852 614,327 0.1% #* Nexans SA 16,366 498,681 0.1% Nexity SA 10,330 370,868 0.0% Norbert Dentressangle SA 1,253 183,147 0.0% * NRJ Group 3,854 33,425 0.0% * Onxeo 4,560 38,387 0.0% Orange SA 177,688 2,828,859 0.2% Orange SA Sponsored ADR 3,032 48,178 0.0% #* Orco Property Group SA 8,374 3,890 0.0% Orpea 8,663 528,549 0.1% Paris Orleans SA 507 11,058 0.0% * Parrot SA 2,681 50,861 0.0% Pernod Ricard SA 2,185 248,897 0.0% * Peugeot SA 145,926 1,734,260 0.1% #* Pierre & Vacances SA 2,344 58,279 0.0% Plastic Omnium SA 13,316 303,271 0.0% PSB Industries SA 755 33,208 0.0% Publicis Groupe SA 9,651 669,372 0.1% Rallye SA 12,283 476,046 0.0% #* Recylex SA 7,033 16,659 0.0% Remy Cointreau SA 551 39,213 0.0% Renault SA 30,047 2,235,084 0.2% Rexel SA 77,382 1,300,717 0.1% Robertet SA 246 50,897 0.0% Rubis SCA 4,795 282,137 0.0% Safran SA 9,646 610,915 0.1% Saft Groupe SA 11,970 356,057 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- FRANCE -- (Continued) Samse SA 40 $ 5,429 0.0% Sanofi 23,775 2,157,344 0.2% Sartorius Stedim Biotech 1,037 189,031 0.0% Schneider Electric SE(4834108) 10,187 802,594 0.1% Schneider Electric SE(B11BPS1) 1,883 148,184 0.0% SCOR SE 46,947 1,438,570 0.1% SEB SA 4,577 374,533 0.0% Seche Environnement SA 944 27,752 0.0% #* Sequana SA 16,121 47,912 0.0% SES SA 12,025 415,123 0.0% Societe BIC SA 1,862 232,276 0.0% Societe d'Edition de Canal + 20,750 154,148 0.0% Societe des Bains de Mer et du Cercle des Etrangers a Monaco 408 22,819 0.0% Societe Generale SA 43,582 2,100,261 0.2% Societe Internationale de Plantations d'Heveas SA 378 15,731 0.0% Societe Marseillaise du Tunnel Prado-Carenage SA 200 7,578 0.0% Societe Television Francaise 1 40,233 599,815 0.1% Sodexo 3,155 304,372 0.0% #* SOITEC 100,087 249,047 0.0% * Solocal Group 112,657 69,219 0.0% Somfy SA 303 88,802 0.0% Sopra Group SA 5,032 377,157 0.0% #* Ste Industrielle d'Aviation Latecoere SA 3,238 38,757 0.0% Stef SA 1,690 96,363 0.0% STMicroelectronics NV(5962332) 106,648 712,381 0.1% # STMicroelectronics NV(861012102) 14,700 98,784 0.0% * Store Electronic 1,158 17,930 0.0% Suez Environnement Co. 14,741 248,346 0.0% Sword Group 2,537 59,015 0.0% Synergie SA 4,953 113,578 0.0% * Technicolor SA 65,890 389,016 0.0% Technip SA 17,380 1,255,712 0.1% Teleperformance 17,355 1,093,618 0.1% Thales SA 4,494 223,172 0.0% * Theolia SA 18,387 15,438 0.0% Thermador Groupe 269 25,091 0.0% Total Gabon 101 44,772 0.0% Total SA 79,639 4,754,708 0.4% # Total SA Sponsored ADR 16,698 1,000,043 0.1% Touax SA 388 6,903 0.0% * Trigano SA 4,601 93,186 0.0% * UBISOFT Entertainment 62,316 1,128,254 0.1% Union Financiere de France BQE SA 730 20,129 0.0% Valeo SA 6,816 764,282 0.1% Vallourec SA 35,292 1,289,819 0.1% #* Valneva SE 568 3,133 0.0% Veolia Environnement SA 19,941 331,196 0.0% Vetoquinol SA 151 6,807 0.0% Vicat 4,734 323,754 0.0% VIEL & Cie SA 10,410 24,766 0.0% Vilmorin & Cie SA 1,226 123,074 0.0% Vinci SA 16,115 919,816 0.1% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- FRANCE -- (Continued) Virbac SA 907 $ 202,672 0.0% Vivendi SA 38,310 935,896 0.1% VM Materiaux SA 25 745 0.0% Vranken-Pommery Monopole SA 394 11,891 0.0% Zodiac Aerospace 12,850 392,089 0.0% ----------------- --------------- TOTAL FRANCE 86,238,958 6.6% ----------------- --------------- GERMANY -- (5.2%) Aareal Bank AG 18,789 807,274 0.1% Adidas AG 6,474 471,734 0.0% Adler Modemaerkte AG 3,409 50,997 0.0% * ADVA Optical Networking SE 18,658 66,990 0.0% #* Air Berlin P.L.C. 2,352 3,480 0.0% #* Aixtron SE 10,539 128,591 0.0% Allgeier SE 1,474 26,273 0.0% Allianz SE 20,504 3,260,590 0.3% Allianz SE ADR 11,988 190,849 0.0% Amadeus Fire AG 1,359 96,457 0.0% * AS Creation Tapeten 50 1,724 0.0% Aurubis AG 12,939 675,447 0.1% Axel Springer SE 7,705 423,856 0.0% BASF SE 17,446 1,541,531 0.1% #* Bauer AG 4,972 77,071 0.0% Bayer AG 31 4,434 0.0% Bayerische Motoren Werke AG 31,783 3,408,336 0.3% BayWa AG 6,054 239,808 0.0% Bechtle AG 5,830 454,201 0.0% Beiersdorf AG 3,397 275,425 0.0% Bertrandt AG 1,271 166,374 0.0% Bijou Brigitte AG 1,717 118,410 0.0% # Bilfinger SE 9,638 623,288 0.1% Biotest AG 1,418 140,542 0.0% * Borussia Dortmund GmbH & Co. KGaA(BQ8P020) 11,240 59,159 0.0% Borussia Dortmund GmbH & Co. KGaA(4627193) 30,919 163,746 0.0% Brenntag AG 13,863 672,655 0.1% # CANCOM SE 3,678 150,967 0.0% Carl Zeiss Meditec AG 3,846 103,484 0.0% # CAT Oil AG 8,294 157,985 0.0% Celesio AG 38,400 1,266,886 0.1% CENIT AG 1,384 19,241 0.0% CENTROTEC Sustainable AG 3,786 61,319 0.0% Cewe Stiftung & Co. KGAA 2,595 170,792 0.0% # Comdirect Bank AG 15,116 152,936 0.0% * Commerzbank AG 141,238 2,135,583 0.2% CompuGroup Medical AG 7,418 170,274 0.0% * Constantin Medien AG 11,950 17,916 0.0% Continental AG 2,736 538,898 0.1% CropEnergies AG 11,125 55,142 0.0% CTS Eventim AG & Co., KGaA 9,694 256,150 0.0% * DAB Bank AG 5,739 33,809 0.0% Daimler AG 35,601 2,775,774 0.2% # Delticom AG 1,376 28,732 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- GERMANY -- (Continued) # Deutsche Bank AG(D18190898) 61,714 $ 1,932,882 0.2% Deutsche Bank AG(5750355) 1,436 44,906 0.0% Deutsche Boerse AG 5,867 401,556 0.0% Deutsche Lufthansa AG 63,029 933,628 0.1% Deutsche Post AG 28,268 890,154 0.1% Deutsche Telekom AG 101,563 1,530,891 0.1% # Deutsche Telekom AG Sponsored ADR 26,160 391,877 0.0% Deutsche Wohnen AG 24,198 546,178 0.1% Deutz AG 43,665 196,705 0.0% * Dialog Semiconductor P.L.C. 18,013 622,021 0.1% DMG Mori Seiki AG 25,704 658,143 0.1% Dr Hoenle AG 1,129 24,060 0.0% Draegerwerk AG & Co. KGaA 1,067 88,558 0.0% Drillisch AG 8,176 284,762 0.0% Duerr AG 4,874 342,370 0.0% E.ON SE 86,250 1,486,958 0.1% Eckert & Ziegler AG 2,499 74,824 0.0% Elmos Semiconductor AG 4,954 88,682 0.0% ElringKlinger AG 7,791 238,311 0.0% #* Euromicron AG 3,318 54,953 0.0% #* Evotec AG 26,184 96,240 0.0% Fielmann AG 2,696 175,929 0.0% Francotyp-Postalia Holding AG Class A 2,977 15,248 0.0% Fraport AG Frankfurt Airport Services Worldwide 12,112 750,469 0.1% Freenet AG 30,043 788,258 0.1% Fresenius Medical Care AG & Co. KGaA 10,537 773,392 0.1% # Fresenius Medical Care AG & Co. KGaA ADR 2,000 73,220 0.0% Fresenius SE & Co. KGaA 39,756 2,045,685 0.2% Fuchs Petrolub SE 994 36,581 0.0% * GAGFAH SA 4,662 87,184 0.0% GEA Group AG 14,891 686,887 0.1% Gerresheimer AG 9,595 533,884 0.1% Gerry Weber International AG 4,121 165,755 0.0% # Gesco AG 909 80,329 0.0% GFK SE 3,505 145,111 0.0% GFT Technologies AG 7,299 101,094 0.0% Grammer AG 6,884 252,247 0.0% Grenkeleasing AG 1,404 139,687 0.0% * H&R AG 3,046 26,094 0.0% Hamburger Hafen und Logistik AG 11,534 252,797 0.0% Hannover Rueck SE 12,736 1,063,040 0.1% * Hansa Group AG 3,842 1,278 0.0% Hawesko Holding AG 261 12,093 0.0% HeidelbergCement AG 21,577 1,472,989 0.1% #* Heidelberger Druckmaschinen AG 127,169 324,803 0.0% Henkel AG & Co. KGaA 1,781 162,105 0.0% Highlight Communications AG 7,046 28,231 0.0% Hochtief AG 7,050 521,691 0.1% Homag Group AG 1,297 45,703 0.0% Hornbach Baumarkt AG 1,578 56,202 0.0% Hugo Boss AG 1,832 243,397 0.0% Indus Holding AG 8,058 370,412 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- GERMANY -- (Continued) Infineon Technologies AG ADR 51,964 $ 508,208 0.0% Isra Vision AG 1,401 83,464 0.0% Jenoptik AG 19,839 227,287 0.0% * Joyou AG 2,072 25,721 0.0% K+S AG 56,515 1,583,818 0.1% * Kloeckner & Co. SE 46,642 547,904 0.1% * Koenig & Bauer AG 2,871 36,362 0.0% * Kontron AG 29,488 170,758 0.0% Krones AG 5,174 496,394 0.0% KSB AG 37 19,944 0.0% # KUKA AG 8,767 552,529 0.1% KWS Saat AG 469 152,968 0.0% Lanxess AG 19,908 1,036,935 0.1% Leifheit AG 470 24,629 0.0% Leoni AG 14,435 829,196 0.1% Linde AG 6,174 1,139,444 0.1% # LPKF Laser & Electronics AG 6,156 78,926 0.0% MAN SE 1,448 165,017 0.0% #* Manz AG 1,017 83,124 0.0% #* Medigene AG 1,746 8,848 0.0% Merck KGaA 4,942 447,371 0.0% * Metro AG 24,544 782,425 0.1% MLP AG 8,436 42,912 0.0% * Morphosys AG 396 37,510 0.0% MTU Aero Engines AG 12,009 1,053,251 0.1% Muehlbauer Holding AG 110 2,332 0.0% Muenchener Rueckversicherungs-Gesellschaft AG 8,536 1,680,634 0.1% MVV Energie AG 479 14,402 0.0% Nemetschek AG 1,149 114,524 0.0% * Nordex SE 20,754 351,792 0.0% Norma Group SE 8,234 385,961 0.0% OHB AG 2,886 72,029 0.0% * Osram Licht AG 14,483 508,786 0.0% * Patrizia Immobilien AG 16,562 223,912 0.0% Pfeiffer Vacuum Technology AG 1,650 128,493 0.0% # PNE Wind AG 31,578 89,227 0.0% Progress-Werk Oberkirch AG 195 10,439 0.0% Puma SE 355 74,591 0.0% * QIAGEN NV(5732825) 27,968 657,288 0.1% #* QIAGEN NV(2437907) 12,879 302,141 0.0% # QSC AG 43,767 84,655 0.0% R Stahl AG 522 25,872 0.0% Rational AG 526 164,840 0.0% Rheinmetall AG 15,191 654,528 0.1% Rhoen Klinikum AG 32,851 978,136 0.1% # RIB Software AG 1,424 19,142 0.0% RWE AG 85,573 3,036,281 0.2% SAF-Holland SA 21,566 270,228 0.0% # Salzgitter AG 21,811 658,668 0.1% Schaltbau Holding AG 1,668 102,472 0.0% #* SGL Carbon SE 7,626 118,204 0.0% SHW AG 1,454 66,407 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- GERMANY -- (Continued) Siemens AG 7,548 $ 851,365 0.1% #* Singulus Technologies AG 16,452 12,061 0.0% Sixt SE 5,889 190,511 0.0% #* SKW Stahl-Metallurgie Holding AG 1,512 7,810 0.0% * Sky Deutschland AG 15,523 131,053 0.0% #* SMA Solar Technology AG 5,907 147,091 0.0% SMT Scharf AG 508 9,482 0.0% # Softing AG 444 8,138 0.0% # Software AG 19,123 481,605 0.0% #* Solarworld AG 106 1,908 0.0% Stada Arzneimittel AG 20,260 780,636 0.1% Stroeer Media S.E. 8,990 205,146 0.0% # Suedzucker AG 15,415 214,639 0.0% Surteco SE 393 12,001 0.0% * Suss Microtec AG 11,080 65,552 0.0% Symrise AG 5,966 336,359 0.0% Syzygy AG 1,491 11,421 0.0% # TAG Immobilien AG 26,881 314,847 0.0% Takkt AG 11,261 175,629 0.0% * Talanx AG 12,057 389,080 0.0% Technotrans AG 1,769 18,861 0.0% Telefonica Deutschland Holding AG 168,490 829,119 0.1% * ThyssenKrupp AG 31,161 751,029 0.1% # Tipp24 SE 2,174 104,616 0.0% * Tom Tailor Holding AG 6,569 92,093 0.0% # Tomorrow Focus AG 6,821 28,238 0.0% TUI AG 86,705 1,327,800 0.1% United Internet AG 8,463 331,905 0.0% USU Software AG 590 9,700 0.0% Volkswagen AG 2,488 530,611 0.1% # Vossloh AG 1,593 91,759 0.0% VTG AG 4,394 88,849 0.0% # Wacker Chemie AG 3,666 444,242 0.0% Wacker Neuson SE 12,838 249,811 0.0% Washtec AG 5,153 79,514 0.0% Wincor Nixdorf AG 6,360 292,498 0.0% XING AG 626 66,487 0.0% ----------------- --------------- TOTAL GERMANY 75,219,979 5.7% ----------------- --------------- GREECE -- (0.0%) * Bank of Cyprus PCL 171,745 -- 0.0% ----------------- --------------- HONG KONG -- (2.8%) Aeon Stores Hong Kong Co., Ltd. 22,000 27,521 0.0% AIA Group, Ltd. 219,200 1,223,229 0.1% Allied Group, Ltd. 6,000 24,603 0.0% Allied Properties HK, Ltd. 382,540 73,478 0.0% * Anxian Yuan China Holdings, Ltd. 580,000 12,044 0.0% * Apac Resources, Ltd. 82,117 2,057 0.0% APT Satellite Holdings, Ltd. 141,000 206,390 0.0% Asia Financial Holdings, Ltd. 98,000 40,554 0.0% Asia Satellite Telecommunications Holdings, Ltd. 36,000 125,398 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- HONG KONG -- (Continued) Asia Standard International Group, Ltd. 22,000 $ 5,366 0.0% ASM Pacific Technology, Ltd. 9,600 105,790 0.0% Associated International Hotels, Ltd. 10,000 29,331 0.0% Aupu Group Holding Co., Ltd. 240,000 40,222 0.0% Bank of East Asia, Ltd. 80,058 333,297 0.0% BOC Hong Kong Holdings, Ltd. 124,000 413,584 0.1% # Bonjour Holdings, Ltd. 486,200 60,907 0.0% Bossini International Hldg 160,000 15,684 0.0% #* Brightoil Petroleum Holdings, Ltd. 419,000 132,861 0.0% * Brockman Mining, Ltd. 873,840 37,753 0.0% * Burwill Holdings, Ltd. 1,724,000 63,483 0.0% Cafe de Coral Holdings, Ltd. 76,000 272,500 0.0% Cathay Pacific Airways, Ltd. 152,000 285,491 0.0% Chen Hsong Holdings 48,000 13,797 0.0% Cheuk Nang Holdings, Ltd. 20,212 17,754 0.0% Cheung Kong Holdings, Ltd. 64,000 1,138,623 0.1% Cheung Kong Infrastructure Holdings, Ltd. 30,000 219,130 0.0% * Cheung Wo International Holdings, Ltd. 348,000 24,681 0.0% Chevalier International Holdings, Ltd. 20,000 32,408 0.0% * China Billion Resources, Ltd. 198,000 -- 0.0% * China Daye Non-Ferrous Metals Mining, Ltd. 582,000 12,479 0.0% #* China Dynamics Holdings, Ltd. 840,000 107,417 0.0% China Electronics Corp. Holdings Co., Ltd. 312,000 98,626 0.0% * China Energy Development Holdings, Ltd. 3,874,000 115,426 0.0% * China Flavors & Fragrances Co., Ltd. 18,102 2,710 0.0% * China Infrastructure Investment, Ltd. 532,000 11,303 0.0% China Metal International Holdings, Inc. 162,000 57,428 0.0% * China Renji Medical Group, Ltd. 546,450 23,975 0.0% * China Solar Energy Holdings, Ltd. 64,000 279 0.0% * China Star Entertainment, Ltd. 4,700,000 71,524 0.0% Chong Hing Bank, Ltd. 13,958 30,939 0.0% Chow Sang Sang Holdings International, Ltd. 136,000 336,573 0.0% # Chow Tai Fook Jewellery Group, Ltd. 69,600 96,814 0.0% Chu Kong Shipping Enterprise Group Co., Ltd. 298,000 74,190 0.0% Chuang's Consortium International, Ltd. 266,925 32,692 0.0% CITIC Telecom International Holdings, Ltd. 677,000 270,722 0.0% CK Life Sciences International Holdings, Inc. 966,000 102,125 0.0% CNT Group, Ltd. 406,000 21,233 0.0% * CP Lotus Corp. 260,000 6,198 0.0% Cross-Harbour Holdings, Ltd. (The) 7,000 6,468 0.0% CSI Properties, Ltd. 1,711,515 74,006 0.0% * CST Mining Group, Ltd. 1,920,000 10,638 0.0% Cw Group Holdings, Ltd. 174,000 64,784 0.0% Dah Sing Banking Group, Ltd. 214,995 390,631 0.1% Dah Sing Financial Holdings, Ltd. 79,466 494,812 0.1% * Dan Form Holdings Co., Ltd. 191,000 18,970 0.0% Dickson Concepts International, Ltd. 34,500 18,082 0.0% Dorsett Hospitality International, Ltd. 385,000 68,005 0.0% Emperor Capital Group, Ltd. 342,000 18,101 0.0% Emperor Entertainment Hotel, Ltd. 310,000 93,140 0.0% Emperor International Holdings, Ltd. 629,750 137,313 0.0% Emperor Watch & Jewellery, Ltd. 2,080,000 95,269 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- HONG KONG -- (Continued) * EPI Holdings, Ltd. 1,400,000 $ 31,421 0.0% Esprit Holdings, Ltd. 674,599 845,052 0.1% Fairwood Holdings, Ltd. 24,500 55,218 0.0% # Far East Consortium International, Ltd. 458,930 170,525 0.0% * FIH Mobile, Ltd. 560,000 298,341 0.0% First Pacific Co., Ltd. 489,200 526,056 0.1% Fountain SET Holdings, Ltd. 436,000 50,590 0.0% Fujikon Industrial Holdings, Ltd. 8,000 1,610 0.0% Future Bright Holdings, Ltd. 210,000 80,477 0.0% * G-Resources Group, Ltd. 11,707,800 286,190 0.0% * GCL New Energy Holdings, Ltd. 142,000 96,345 0.0% Get Nice Holdings, Ltd. 1,692,000 77,431 0.0% # Giordano International, Ltd. 546,000 278,154 0.0% * Global Brands Group Holding, Ltd. 284,000 62,574 0.0% Glorious Sun Enterprises, Ltd. 122,000 26,580 0.0% Golden Resources Development International, Ltd. 90,000 5,334 0.0% # Haitong International Securities Group, Ltd. 158,405 94,338 0.0% Hang Lung Group, Ltd. 128,000 643,976 0.1% Hang Lung Properties, Ltd. 239,000 746,332 0.1% Hang Seng Bank, Ltd. 22,400 379,553 0.0% * Hao Tian Development Group, Ltd. 364,000 23,470 0.0% Harbour Centre Development, Ltd. 36,000 65,481 0.0% Henderson Land Development Co., Ltd. 198,141 1,338,596 0.1% HKR International, Ltd. 154,171 74,523 0.0% Hon Kwok Land Investment Co., Ltd. 62,000 21,598 0.0% Hong Kong & China Gas Co., Ltd. 106,700 249,164 0.0% Hong Kong Aircraft Engineering Co., Ltd. 7,200 79,108 0.0% Hong Kong Exchanges and Clearing, Ltd. 41,266 916,237 0.1% Hong Kong Ferry Holdings Co., Ltd. 17,000 19,464 0.0% * Hong Kong Television Network, Ltd. ADR 3,100 23,932 0.0% Hongkong & Shanghai Hotels (The) 120,500 190,820 0.0% Hongkong Chinese, Ltd. 118,000 27,873 0.0% Hopewell Holdings, Ltd. 214,500 762,601 0.1% Hsin Chong Construction Group, Ltd. 724,000 89,622 0.0% Hung Hing Printing Group, Ltd. 150,000 21,864 0.0% Hutchison Telecommunications Hong Kong Holdings, Ltd. 670,000 267,046 0.0% Hutchison Whampoa, Ltd. 66,000 838,620 0.1% Hysan Development Co., Ltd. 36,000 164,727 0.0% * I-CABLE Communications, Ltd. 358,000 32,348 0.0% #* Imagi International Holdings, Ltd. 3,008,000 87,645 0.0% * Integrated Waste Solutions Group Holdings, Ltd. 768,000 46,594 0.0% * International Standard Resources Holdings, Ltd. 605,000 34,722 0.0% * IRC, Ltd. 664,000 51,407 0.0% # IT, Ltd. 298,000 89,505 0.0% ITC Corp., Ltd. 136,000 10,529 0.0% Johnson Electric Holdings, Ltd. 140,125 474,365 0.1% # K Wah International Holdings, Ltd. 607,329 380,947 0.0% Ka Shui International Holdings, Ltd. 140,000 23,716 0.0% Kerry Logistics Network, Ltd. 52,750 86,003 0.0% Kerry Properties, Ltd. 204,500 702,840 0.1% * King Stone Energy Group, Ltd. 284,000 9,122 0.0% Kingmaker Footwear Holdings, Ltd. 72,000 12,060 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- HONG KONG -- (Continued) Kingston Financial Group, Ltd. 1,610,000 $ 191,018 0.0% * Ko Yo Chemical Group, Ltd. 268,000 65,713 0.0% Kowloon Development Co., Ltd. 117,000 139,865 0.0% # L'Occitane International SA 85,500 201,885 0.0% * Lai Sun Development Co., Ltd. 5,865,666 150,428 0.0% Lee's Pharmaceutical Holdings, Ltd. 37,500 51,450 0.0% Lerado Group Holding Co., Ltd. 138,000 20,823 0.0% Li & Fung, Ltd. 284,000 346,488 0.0% Lifestyle International Holdings, Ltd. 135,000 255,082 0.0% Lippo China Resources, Ltd. 242,000 11,239 0.0% Lippo, Ltd. 6,000 3,570 0.0% Liu Chong Hing Investment, Ltd. 94,000 118,900 0.0% Luen Thai Holdings, Ltd. 87,000 17,739 0.0% Luk Fook Holdings International, Ltd. 173,000 514,718 0.1% Lung Kee Bermuda Holdings 38,000 11,451 0.0% Magnificent Estates 818,000 39,020 0.0% # Man Wah Holdings, Ltd. 102,000 152,348 0.0% Man Yue Technology Holdings, Ltd. 142,000 31,807 0.0% * Mei Ah Entertainment Group, Ltd. 540,000 48,051 0.0% Melco Crown Entertainment, Ltd. ADR 9,519 258,346 0.0% # Melco International Development, Ltd. 71,000 192,962 0.0% MGM China Holdings, Ltd. 32,000 102,873 0.0% #* Midland Holdings, Ltd. 358,584 176,261 0.0% * Ming Fung Jewellery Group, Ltd. 729,000 8,095 0.0% Miramar Hotel & Investment 39,000 49,240 0.0% #* Mongolian Mining Corp. 887,000 80,113 0.0% MTR Corp., Ltd. 28,025 114,271 0.0% NagaCorp, Ltd. 384,000 322,893 0.0% Natural Beauty Bio-Technology, Ltd. 140,000 11,552 0.0% * Neo-Neon Holdings, Ltd. 205,000 33,028 0.0% * Neptune Group, Ltd. 2,370,000 53,819 0.0% New World Development Co., Ltd. 1,197,465 1,508,313 0.1% # Newocean Energy Holdings, Ltd. 448,000 211,043 0.0% Next Media, Ltd. 184,000 17,574 0.0% NWS Holdings, Ltd. 181,874 338,581 0.0% * Orange Sky Golden Harvest Entertainment Holdings, Ltd. 750,000 59,065 0.0% Orient Overseas International, Ltd. 101,500 575,652 0.1% Oriental Watch Holdings 198,000 44,228 0.0% Pacific Andes International Holdings, Ltd. 812,224 34,047 0.0% Pacific Basin Shipping, Ltd. 599,000 286,711 0.0% Pacific Textiles Holdings, Ltd. 162,000 218,037 0.0% Paliburg Holdings, Ltd. 44,000 14,413 0.0% # Paradise Entertainment, Ltd. 184,000 76,167 0.0% PCCW, Ltd. 867,013 552,293 0.1% * Pearl Oriental Oil, Ltd. 558,800 15,793 0.0% # Pico Far East Holdings, Ltd. 158,000 39,128 0.0% Playmates Holdings, Ltd. 64,000 68,552 0.0% # Playmates Toys, Ltd. 232,000 53,598 0.0% PNG Resources Holdings, Ltd. 104,800 4,460 0.0% Polytec Asset Holdings, Ltd. 810,000 118,188 0.0% # Prada SpA 22,800 140,360 0.0% Public Financial Holdings, Ltd. 48,000 22,923 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- HONG KONG -- (Continued) PYI Corp., Ltd. 992,000 $ 22,356 0.0% Regal Hotels International Holdings, Ltd. 296,000 180,519 0.0% * Richfield Group Holdings, Ltd. 664,000 23,969 0.0% # SA SA International Holdings, Ltd. 256,000 176,988 0.0% Samsonite International SA 125,100 415,673 0.1% #* Sandmartin International Holdings, Ltd. 6,000 348 0.0% SAS Dragon Hldg, Ltd. 152,000 46,867 0.0% SEA Holdings, Ltd. 62,000 40,268 0.0% Shangri-La Asia, Ltd. 319,666 464,981 0.1% Shenyin Wanguo HK, Ltd. 85,000 48,728 0.0% * Shougang Concord Technology Holdings 892,000 33,333 0.0% Shun Tak Holdings, Ltd. 753,249 383,767 0.0% * Silver base Group Holdings, Ltd. 218,000 27,295 0.0% Simsen International Corp., Ltd. 180,000 38,993 0.0% Singamas Container Holdings, Ltd. 704,000 120,799 0.0% Sino Land Co., Ltd. 500,963 831,905 0.1% Sitoy Group Holdings, Ltd. 81,000 66,814 0.0% SJM Holdings, Ltd. 131,000 276,204 0.0% SmarTone Telecommunications Holdings, Ltd. 141,000 182,250 0.0% * SOCAM Development, Ltd. 93,768 77,988 0.0% Soundwill Holdings, Ltd. 12,000 19,045 0.0% * South China China, Ltd. 480,000 45,203 0.0% # Stella International Holdings, Ltd. 111,500 319,895 0.0% Stelux Holdings International, Ltd. 162,800 36,112 0.0% * Success Universe Group, Ltd. 300,000 10,652 0.0% # Sun Hung Kai & Co., Ltd. 294,341 218,794 0.0% Sun Hung Kai Properties, Ltd. 91,282 1,365,563 0.1% Swire Pacific, Ltd. Class A 43,000 564,566 0.1% Swire Pacific, Ltd. Class B 67,500 163,836 0.0% * Symphony Holdings, Ltd. 150,000 12,772 0.0% TAI Cheung Holdings, Ltd. 47,000 38,742 0.0% Tao Heung Holdings, Ltd. 66,000 34,797 0.0% * Taung Gold International, Ltd. 970,000 26,027 0.0% Techtronic Industries Co., Ltd. 162,500 509,771 0.1% Television Broadcasts, Ltd. 81,800 446,281 0.1% Texwinca Holdings, Ltd. 260,000 228,180 0.0% * Titan Petrochemicals Group, Ltd. 620,000 200 0.0% Tradelink Electronic Commerce, Ltd. 118,000 26,055 0.0% Transport International Holdings, Ltd. 52,400 95,960 0.0% # Trinity, Ltd. 568,000 136,371 0.0% * TSC Group Holdings, Ltd. 225,000 82,966 0.0% #* United Laboratories International Holdings, Ltd. (The) 267,000 206,203 0.0% Value Partners Group, Ltd. 187,000 140,932 0.0% Varitronix International, Ltd. 164,000 136,654 0.0% Victory City International Holdings, Ltd. 542,772 77,712 0.0% Vitasoy International Holdings, Ltd. 186,000 256,251 0.0% VST Holdings, Ltd. 433,200 149,578 0.0% # VTech Holdings, Ltd. 37,300 466,134 0.1% Wharf Holdings, Ltd. (The) 94,000 697,056 0.1% Wheelock & Co., Ltd. 146,000 705,621 0.1% Wing On Co. International, Ltd. 30,000 87,101 0.0% Wing Tai Properties, Ltd. 120,000 78,154 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- HONG KONG -- (Continued) # Wynn Macau, Ltd. 35,600 $ 128,468 0.0% Xinyi Glass Holdings, Ltd. 882,000 518,850 0.1% # Xinyi Solar Holdings, Ltd. 242,000 81,901 0.0% YGM Trading, Ltd. 8,000 17,002 0.0% Yue Yuen Industrial Holdings, Ltd. 172,500 581,307 0.1% ----------------- --------------- TOTAL HONG KONG 40,258,385 3.1% ----------------- --------------- IRELAND -- (0.5%) * Bank of Ireland 3,184,554 1,253,614 0.1% #* Bank of Ireland Sponsored ADR 10,709 171,237 0.0% C&C Group P.L.C. 71,103 316,728 0.0% CRH P.L.C. 9,182 203,688 0.0% CRH P.L.C. Sponsored ADR 59,771 1,339,468 0.1% Dragon Oil P.L.C. 39,592 342,216 0.0% FBD Holdings P.L.C. 8,425 142,502 0.0% Glanbia P.L.C. 38,215 539,836 0.0% IFG Group P.L.C. 7,878 15,127 0.0% Irish Continental Group P.L.C. 37,097 129,620 0.0% * Kenmare Resources P.L.C. 71,237 7,861 0.0% Kerry Group P.L.C. Class A 8,222 558,493 0.1% Kingspan Group P.L.C. 35,313 552,758 0.0% Paddy Power P.L.C. 8,826 644,180 0.1% Smurfit Kappa Group P.L.C. 31,651 653,965 0.1% ----------------- --------------- TOTAL IRELAND 6,871,293 0.5% ----------------- --------------- ISRAEL -- (0.7%) * Africa Israel Investments, Ltd. 73,121 117,572 0.0% Africa Israel Properties, Ltd. 1,260 18,149 0.0% * Airport City, Ltd. 4,711 43,082 0.0% * AL-ROV Israel, Ltd. 1,591 46,622 0.0% * Alon Blue Square Israel, Ltd. 1,554 4,265 0.0% * Alrov Properties and Lodgings, Ltd. 710 14,313 0.0% Amot Investments, Ltd. 5,164 16,321 0.0% * AudioCodes, Ltd. 4,091 19,134 0.0% * Azorim-Investment Development & Construction Co., Ltd. 17,486 13,675 0.0% # Azrieli Group 11,185 361,531 0.1% Bank Hapoalim BM 170,928 879,913 0.1% * Bank Leumi Le-Israel BM 175,500 627,167 0.1% Bayside Land Corp. 85 22,647 0.0% Bezeq The Israeli Telecommunication Corp., Ltd. 127,225 217,443 0.0% Big Shopping Centers 2004, Ltd. 959 39,001 0.0% Cellcom Israel, Ltd.(B23WQK8) 833 8,561 0.0% # Cellcom Israel, Ltd.(M2196U109) 10,685 108,132 0.0% * Ceragon Networks, Ltd. 5,455 8,202 0.0% * Clal Biotechnology Industries, Ltd. 22,507 23,443 0.0% * Clal Insurance Enterprises Holdings, Ltd. 9,219 146,466 0.0% * Compugen, Ltd. 2,327 17,379 0.0% Delek Automotive Systems, Ltd. 6,133 61,314 0.0% Delek Group, Ltd. 354 122,360 0.0% # Delta-Galil Industries, Ltd. 3,234 85,713 0.0% Elbit Systems, Ltd.(M3760D101) 500 30,310 0.0% Elbit Systems, Ltd.(6308913) 2,463 149,812 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- ISRAEL -- (Continued) Electra, Ltd. 641 $ 82,412 0.0% Elron Electronic Industries, Ltd. 5,818 26,360 0.0% * Evogene, Ltd. 302 3,444 0.0% * EZchip Semiconductor, Ltd.(6554998) 1,999 41,298 0.0% * EZchip Semiconductor, Ltd.(M4146Y108) 1,922 40,804 0.0% First International Bank Of Israel, Ltd. 10,129 142,639 0.0% Formula Systems 1985, Ltd. 2,837 71,393 0.0% Fox Wizel, Ltd. 747 17,423 0.0% Frutarom Industries, Ltd. 4,837 122,400 0.0% * Gilat Satellite Networks, Ltd.(B01BZ39) 4,767 23,873 0.0% * Gilat Satellite Networks, Ltd.(M51474118) 3,025 15,004 0.0% Golf & Co., Ltd. 2,258 7,113 0.0% * Hadera Paper, Ltd. 615 20,561 0.0% Harel Insurance Investments & Financial Services, Ltd. 52,558 265,469 0.0% Industrial Buildings Corp., Ltd. 5,056 8,309 0.0% Israel Chemicals, Ltd. 5,296 35,705 0.0% * Israel Discount Bank, Ltd. Class A 236,218 380,977 0.1% Ituran Location and Control, Ltd.(B0LDC23) 2,289 46,643 0.0% Ituran Location and Control, Ltd.(M6158M104) 300 6,147 0.0% * Jerusalem Oil Exploration 4,925 198,527 0.0% * Kamada, Ltd. 5,535 22,978 0.0% Matrix IT, Ltd. 17,675 91,267 0.0% #* Mazor Robotics, Ltd. 7,056 40,851 0.0% Meitav DS Investments, Ltd. 436 1,483 0.0% Melisron, Ltd. 1,534 41,024 0.0% Menorah Mivtachim Holdings, Ltd. 12,336 132,960 0.0% Migdal Insurance & Financial Holding, Ltd. 76,210 104,052 0.0% Mivtach Shamir Holdings, Ltd. 1,364 38,358 0.0% * Mizrahi Tefahot Bank, Ltd. 35,973 398,222 0.1% * Naphtha Israel Petroleum Corp., Ltd. 10,581 70,617 0.0% NICE Systems, Ltd. Sponsored ADR 2,453 99,788 0.0% * Nitsba Holdings 1995, Ltd. 2,921 42,858 0.0% * Nova Measuring Instruments, Ltd. 1,566 15,594 0.0% * Oil Refineries, Ltd. 444,111 144,963 0.0% Ormat Industries 32,053 220,581 0.0% Osem Investments, Ltd. 1,973 37,952 0.0% * Partner Communications Co., Ltd. 4,381 29,310 0.0% * Partner Communications Co., Ltd. ADR 10,082 65,634 0.0% Paz Oil Co., Ltd. 515 72,787 0.0% Phoenix Holdings, Ltd. (The) 29,425 86,254 0.0% Plasson Industries, Ltd. 1,206 45,374 0.0% Rami Levi Chain Stores Hashikma Marketing 2006, Ltd. 1,447 65,468 0.0% * Sapiens International Corp. NV 3,305 24,880 0.0% Shikun & Binui, Ltd. 48,197 111,293 0.0% Shufersal, Ltd. 8,735 21,596 0.0% Strauss Group, Ltd. 2,188 35,571 0.0% Teva Pharmaceutical Industries, Ltd. 395 22,297 0.0% Teva Pharmaceutical Industries, Ltd. Sponsored ADR 55,754 3,148,428 0.3% #* Tower Semiconductor, Ltd. 4,630 46,373 0.0% * Union Bank of Israel 5,193 19,972 0.0% ----------------- --------------- TOTAL ISRAEL 10,057,813 0.8% ----------------- --------------- INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- ITALY -- (2.4%) A2A SpA 161,578 $ 162,018 0.0% ACEA SpA 7,397 90,501 0.0% * Aeffe SpA 6,810 17,430 0.0% Aeroporto di Venezia Marco Polo SpA - SAVE 5,671 91,362 0.0% Alerion Cleanpower SpA 2,861 9,911 0.0% Amplifon SpA 19,365 113,372 0.0% Ansaldo STS SpA 28,735 330,096 0.0% #* Arnoldo Mondadori Editore SpA 30,930 25,507 0.0% Ascopiave SpA 8,381 19,638 0.0% Assicurazioni Generali SpA 17,834 365,961 0.0% # Astaldi SpA 31,377 219,502 0.0% Atlantia SpA 19,780 467,151 0.1% * Autogrill SpA 36,685 248,631 0.0% Azimut Holding SpA 23,394 547,561 0.1% #* Banca Carige SpA 1,081,956 90,806 0.0% Banca Generali SpA 14,051 372,812 0.0% Banca IFIS SpA 5,199 91,565 0.0% #* Banca Monte dei Paschi di Siena SpA 573,735 438,971 0.1% * Banca Popolare dell'Emilia Romagna SC 232,309 1,772,676 0.2% * Banca Popolare di Milano Scarl 1,822,867 1,373,938 0.1% Banca Popolare di Sondrio SCARL 113,180 454,242 0.1% # Banca Profilo SpA 35,778 14,610 0.0% Banco di Desio e della Brianza SpA 19,322 60,943 0.0% #* Banco Popolare SC 143,917 2,090,575 0.2% * BasicNet SpA 6,641 19,478 0.0% Biesse SpA 5,834 56,064 0.0% Brembo SpA 6,992 231,864 0.0% #* Brioschi Sviluppo Immobiliare SpA 10,866 1,255 0.0% # Brunello Cucinelli SpA 2,996 60,706 0.0% Buzzi Unicem SpA 33,500 453,287 0.1% Cairo Communication SpA 8,750 58,817 0.0% Cementir Holding SpA 24,433 146,807 0.0% * CIR-Compagnie Industriali Riunite SpA 216,130 216,766 0.0% CNH Industrial NV 17,446 142,366 0.0% Credito Emiliano SpA 29,237 225,289 0.0% * Credito Valtellinese SC 641,309 664,057 0.1% d'Amico International Shipping SA 22,435 10,166 0.0% Danieli & C Officine Meccaniche SpA 2,308 53,851 0.0% Datalogic SpA 4,166 47,972 0.0% Davide Campari-Milano SpA 40,212 289,188 0.0% De' Longhi 13,337 261,016 0.0% DiaSorin SpA 4,764 183,784 0.0% #* Ei Towers SpA 2,079 104,256 0.0% El.En. SpA 407 11,436 0.0% Enel Green Power SpA 99,708 245,110 0.0% Engineering SpA 981 47,444 0.0% Eni SpA 73,039 1,556,088 0.1% Eni SpA Sponsored ADR 10,306 438,005 0.1% ERG SpA 23,781 272,688 0.0% Esprinet SpA 14,497 119,802 0.0% * Eurotech SpA 15,195 29,570 0.0% Falck Renewables SpA 48,405 61,354 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- ITALY -- (Continued) * Finmeccanica SpA 118,534 $ 1,071,121 0.1% FNM SpA 72,438 52,461 0.0% #* Geox SpA 19,867 60,806 0.0% * Gruppo Editoriale L'Espresso SpA 50,190 53,707 0.0% GTECH SpA 9,382 218,666 0.0% Hera SpA 76,977 202,718 0.0% * IMMSI SpA 93,687 57,615 0.0% * Indesit Co. SpA 16,201 222,839 0.0% Industria Macchine Automatiche SpA 3,382 132,599 0.0% * Intek Group SpA 68,376 29,481 0.0% Interpump Group SpA 16,337 213,057 0.0% Intesa Sanpaolo SpA 628,174 1,846,680 0.2% Iren SpA 102,452 123,888 0.0% Italcementi SpA 67,869 388,698 0.0% Italmobiliare SpA 3,545 84,287 0.0% * Juventus Football Club SpA 97,295 26,958 0.0% * Landi Renzo SpA 7,410 9,196 0.0% Luxottica Group SpA 6,991 356,595 0.0% Luxottica Group SpA Sponsored ADR 300 15,240 0.0% #* Maire Tecnimont SpA 30,906 65,935 0.0% MARR SpA 8,957 142,835 0.0% * Mediaset SpA 179,714 602,024 0.1% * Mediobanca SpA 121,487 1,072,262 0.1% # Mediolanum SpA 19,890 134,100 0.0% Parmalat SpA 66,960 201,303 0.0% #* Piaggio & C SpA 49,378 138,076 0.0% Pirelli & C. SpA 18,964 254,302 0.0% #* Prelios SpA 12,061 3,958 0.0% #* Prima Industrie SpA 2,010 32,563 0.0% Prysmian SpA 48,561 841,619 0.1% #* RCS MediaGroup SpA 2,140 2,257 0.0% Recordati SpA 24,313 420,680 0.1% Reply SpA 1,487 109,728 0.0% #* Retelit SpA 53,073 39,353 0.0% Sabaf SpA 1,518 24,567 0.0% #* Safilo Group SpA 16,356 221,765 0.0% * Saipem SpA 30,844 482,861 0.1% * Salini Impregilo SpA 1,647 4,551 0.0% Salvatore Ferragamo SpA 12,742 301,477 0.0% #* Saras SpA 95,427 97,398 0.0% Servizi Italia SpA 2,006 10,434 0.0% #* Snai SpA 24,408 38,234 0.0% # Societa Cattolica di Assicurazioni SCRL 17,342 268,585 0.0% Societa Iniziative Autostradali e Servizi SpA 22,976 230,213 0.0% * Sogefi SpA 12,821 33,371 0.0% SOL SpA 10,697 85,691 0.0% * Sorin SpA 84,969 190,120 0.0% #* Telecom Italia SpA 839,179 951,026 0.1% * Telecom Italia SpA Sponsored ADR 32,914 371,928 0.0% Tenaris SA 12,053 238,343 0.0% Tenaris SA ADR 2,700 107,028 0.0% Terna Rete Elettrica Nazionale SpA 71,457 360,264 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- ITALY -- (Continued) #* Tiscali SpA 160,000 $ 8,472 0.0% # Tod's SpA 2,143 197,715 0.0% # Trevi Finanziaria Industriale SpA 21,376 76,868 0.0% UniCredit SpA 206,300 1,494,173 0.1% Unione di Banche Italiane SCPA 339,391 2,665,405 0.2% Unipol Gruppo Finanziario SpA 128,743 622,799 0.1% UnipolSai SpA 197,970 532,289 0.1% Vittoria Assicurazioni SpA 13,884 153,103 0.0% * World Duty Free SpA 17,447 148,139 0.0% * Yoox SpA 7,934 146,697 0.0% Zignago Vetro SpA 6,560 45,191 0.0% ----------------- --------------- TOTAL ITALY 34,814,579 2.7% ----------------- --------------- JAPAN -- (19.7%) 77 Bank, Ltd. (The) 125,000 697,850 0.1% A&D Co., Ltd. 9,700 45,843 0.0% ABC-Mart, Inc. 1,100 63,427 0.0% # Accordia Golf Co., Ltd. 33,000 347,700 0.0% Achilles Corp. 66,000 90,668 0.0% # Adastria Holdings Co., Ltd. 8,880 197,532 0.0% ADEKA Corp. 40,900 527,951 0.1% Aderans Co., Ltd. 4,800 57,140 0.0% Advan Co., Ltd. 2,600 28,324 0.0% # Advantest Corp. 11,300 131,765 0.0% Advantest Corp. ADR 1,800 21,078 0.0% # Aeon Co., Ltd. 213,200 2,109,579 0.2% # Aeon Fantasy Co., Ltd. 3,600 46,742 0.0% #* AGORA Hospitality Group Co., Ltd. 34,000 14,139 0.0% # Agro-Kanesho Co., Ltd. 1,500 12,198 0.0% Ahresty Corp. 9,300 52,159 0.0% Ai Holdings Corp. 7,700 152,358 0.0% Aica Kogyo Co., Ltd. 8,300 171,802 0.0% Aichi Bank, Ltd. (The) 3,600 176,779 0.0% Aichi Corp. 16,200 79,771 0.0% Aichi Steel Corp. 59,000 212,194 0.0% Aichi Tokei Denki Co., Ltd. 17,000 48,809 0.0% # Aida Engineering, Ltd. 19,100 185,615 0.0% * Aigan Co., Ltd. 2,400 5,610 0.0% Ain Pharmaciez, Inc. 6,800 184,214 0.0% Aiphone Co., Ltd. 1,100 19,096 0.0% Air Water, Inc. 22,000 350,687 0.0% Airport Facilities Co., Ltd. 6,100 41,720 0.0% Aisan Industry Co., Ltd. 13,500 108,252 0.0% Aisin Seiki Co., Ltd. 17,400 579,572 0.1% Aizawa Securities Co., Ltd. 3,400 17,173 0.0% Ajinomoto Co., Inc. 26,000 490,897 0.1% # Akebono Brake Industry Co., Ltd. 33,100 129,020 0.0% Akita Bank, Ltd. (The) 71,000 201,779 0.0% Alconix Corp. 5,200 68,904 0.0% Alfresa Holdings Corp. 20,000 253,798 0.0% Alinco, Inc. 4,900 50,061 0.0% Allied Telesis Holdings K.K. 20,700 15,956 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) Alpen Co., Ltd. 10,300 $ 158,983 0.0% Alpha Corp. 1,500 14,478 0.0% Alpha Systems, Inc. 560 7,400 0.0% Alpine Electronics, Inc. 24,300 414,788 0.1% Alps Electric Co., Ltd. 50,200 854,463 0.1% Alps Logistics Co., Ltd. 2,000 22,436 0.0% Amada Co., Ltd. 101,000 882,086 0.1% Amano Corp. 23,200 251,454 0.0% Amiyaki Tei Co., Ltd. 2,200 78,582 0.0% Anest Iwata Corp. 7,000 50,924 0.0% Anritsu Corp. 35,800 277,176 0.0% AOKI Holdings, Inc. 17,878 200,525 0.0% Aomori Bank, Ltd. (The) 80,000 238,705 0.0% Aoyama Trading Co., Ltd. 24,300 577,975 0.1% Aozora Bank, Ltd. 59,000 207,379 0.0% Arakawa Chemical Industries, Ltd. 2,700 27,654 0.0% Arata Corp. 11,000 32,887 0.0% Araya Industrial Co., Ltd. 17,000 26,968 0.0% Arcland Sakamoto Co., Ltd. 7,400 164,969 0.0% Arcs Co., Ltd. 15,789 347,963 0.0% Ariake Japan Co., Ltd. 3,200 72,126 0.0% Arisawa Manufacturing Co., Ltd. 17,200 126,174 0.0% #* Arrk Corp. 16,100 22,838 0.0% # Artnature, Inc. 4,400 59,504 0.0% As One Corp. 4,500 128,596 0.0% Asahi Broadcasting Corp. 200 1,352 0.0% Asahi Co., Ltd. 4,900 54,482 0.0% Asahi Diamond Industrial Co., Ltd. 11,100 134,693 0.0% Asahi Glass Co., Ltd. 179,000 931,638 0.1% Asahi Group Holdings, Ltd. 5,900 183,011 0.0% Asahi Holdings, Inc. 12,800 213,084 0.0% Asahi Intecc Co., Ltd. 5,000 229,145 0.0% Asahi Kasei Corp. 84,000 689,322 0.1% Asahi Kogyosha Co., Ltd. 4,000 14,071 0.0% Asahi Organic Chemicals Industry Co., Ltd. 30,000 69,967 0.0% * Asanuma Corp. 30,000 47,251 0.0% # Asatsu-DK, Inc. 11,100 280,126 0.0% #* Ashimori Industry Co., Ltd. 19,000 33,476 0.0% #* Asia Growth Capital, Ltd. 6,400 8,914 0.0% Asics Corp. 5,000 117,085 0.0% ASKA Pharmaceutical Co., Ltd. 13,800 152,284 0.0% # ASKUL Corp. 2,300 47,795 0.0% Astellas Pharma, Inc. 7,500 116,404 0.0% Asunaro Aoki Construction Co., Ltd. 3,500 24,725 0.0% # Atom Corp. 2,100 11,476 0.0% Autobacs Seven Co., Ltd. 31,600 463,566 0.1% Avex Group Holdings, Inc. 11,700 173,786 0.0% Awa Bank, Ltd. (The) 83,000 497,719 0.1% Axell Corp. 2,700 37,063 0.0% Axial Retailing, Inc. 4,400 88,625 0.0% Azbil Corp. 17,400 419,609 0.1% Bandai Namco Holdings, Inc. 8,000 198,542 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) Bando Chemical Industries, Ltd. 37,000 $ 146,888 0.0% Bank of Iwate, Ltd. (The) 6,400 292,900 0.0% Bank of Kochi, Ltd. (The) 22,000 28,339 0.0% Bank of Kyoto, Ltd. (The) 97,000 840,558 0.1% Bank of Nagoya, Ltd. (The) 54,000 218,616 0.0% Bank of Okinawa, Ltd. (The) 8,600 376,740 0.1% Bank of Saga, Ltd. (The) 58,000 134,130 0.0% Bank of the Ryukyus, Ltd. 19,100 308,451 0.0% Bank of Yokohama, Ltd. (The) 171,000 988,250 0.1% Belc Co., Ltd. 5,400 149,162 0.0% Belluna Co., Ltd. 22,200 99,277 0.0% Benefit One, Inc. 1,400 12,449 0.0% Benesse Holdings, Inc. 4,100 129,373 0.0% Best Denki Co., Ltd. 22,500 27,339 0.0% # Bic Camera, Inc. 19,100 167,465 0.0% # Bit-isle, Inc. 12,800 54,730 0.0% BML, Inc. 4,500 134,374 0.0% Bookoff Corp. 4,100 30,798 0.0% Bridgestone Corp. 12,200 407,696 0.1% BRONCO BILLY Co., Ltd. 300 8,272 0.0% Brother Industries, Ltd. 23,900 425,529 0.1% Bunka Shutter Co., Ltd. 22,000 190,279 0.0% C Uyemura & Co., Ltd. 500 23,781 0.0% Calbee, Inc. 3,300 115,580 0.0% Calsonic Kansei Corp. 83,000 459,525 0.1% # Can Do Co., Ltd. 1,300 19,168 0.0% Canon Electronics, Inc. 6,500 118,706 0.0% Canon Marketing Japan, Inc. 18,500 378,218 0.1% Canon, Inc. 25,000 767,004 0.1% # Capcom Co., Ltd. 9,700 150,712 0.0% Carlit Holdings Co., Ltd. 3,400 17,819 0.0% # Casio Computer Co., Ltd. 18,200 290,209 0.0% Cawachi, Ltd. 7,000 108,836 0.0% Central Glass Co., Ltd. 63,000 205,956 0.0% Central Sports Co., Ltd. 900 14,305 0.0% Century Tokyo Leasing Corp. 10,800 282,819 0.0% Chiba Bank, Ltd. (The) 114,000 809,742 0.1% Chiba Kogyo Bank, Ltd. (The) 22,100 155,811 0.0% Chino Corp. 800 8,815 0.0% Chiyoda Co., Ltd. 7,000 138,501 0.0% Chiyoda Integre Co., Ltd. 5,500 94,824 0.0% Chodai Co., Ltd. 1,100 8,422 0.0% Chori Co., Ltd. 5,700 83,782 0.0% Chubu Shiryo Co., Ltd. 5,000 30,496 0.0% Chuetsu Pulp & Paper Co., Ltd. 31,000 50,229 0.0% * Chugai Mining Co., Ltd. 36,200 9,169 0.0% Chugai Pharmaceutical Co., Ltd. 2,200 68,778 0.0% Chugai Ro Co., Ltd. 8,000 15,876 0.0% Chugoku Bank, Ltd. (The) 46,000 679,905 0.1% Chugoku Marine Paints, Ltd. 35,000 276,596 0.0% Chukyo Bank, Ltd. (The) 38,000 69,969 0.0% Chuo Spring Co., Ltd. 5,000 14,729 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) Citizen Holdings Co., Ltd. 72,400 $ 475,620 0.1% CKD Corp. 22,300 195,634 0.0% #* Clarion Co., Ltd. 36,000 118,471 0.0% Cleanup Corp. 10,300 90,467 0.0% # CMIC Holdings Co., Ltd. 3,200 48,765 0.0% * CMK Corp. 18,100 45,159 0.0% Coca-Cola East Japan Co., Ltd. 12,972 233,406 0.0% Coca-Cola West Co., Ltd. 23,400 334,043 0.0% Cocokara fine, Inc. 7,500 182,320 0.0% # Colowide Co., Ltd. 10,700 128,214 0.0% Computer Engineering & Consulting, Ltd. 3,500 33,044 0.0% COMSYS Holdings Corp. 23,100 412,395 0.1% CONEXIO Corp. 3,700 40,014 0.0% # COOKPAD, Inc. 2,500 81,594 0.0% Corona Corp. 5,000 52,046 0.0% Cosel Co., Ltd. 2,300 26,762 0.0% Cosmo Oil Co., Ltd. 249,000 387,988 0.1% * Cosmos Initia Co., Ltd. 6,700 27,642 0.0% # Cosmos Pharmaceutical Corp. 500 71,490 0.0% Create SD Holdings Co., Ltd. 1,400 50,451 0.0% Credit Saison Co., Ltd. 8,000 168,883 0.0% # CROOZ, Inc. 1,200 22,007 0.0% # CTI Engineering Co., Ltd. 5,100 80,965 0.0% # DA Consortium, Inc. 2,600 10,816 0.0% Dai Nippon Printing Co., Ltd. 80,000 788,543 0.1% Dai Nippon Toryo Co., Ltd. 49,000 68,795 0.0% Dai-Dan Co., Ltd. 6,000 33,961 0.0% Dai-ichi Life Insurance Co., Ltd. (The) 33,600 508,492 0.1% Dai-ichi Seiko Co., Ltd. 5,200 98,484 0.0% Daibiru Corp. 21,400 241,060 0.0% Daicel Corp. 58,000 668,593 0.1% Daido Kogyo Co., Ltd. 22,000 53,533 0.0% Daido Metal Co., Ltd. 15,000 176,245 0.0% Daido Steel Co., Ltd. 74,000 283,882 0.0% Daidoh, Ltd. 7,700 35,214 0.0% #* Daiei, Inc. (The) 130,600 148,673 0.0% Daifuku Co., Ltd. 28,500 330,088 0.0% Daihatsu Diesel Manufacturing Co., Ltd. 6,000 49,301 0.0% # Daihatsu Motor Co., Ltd. 17,700 251,215 0.0% Daihen Corp. 48,000 169,947 0.0% # Daiho Corp. 32,000 148,834 0.0% Daiichi Jitsugyo Co., Ltd. 7,000 35,991 0.0% Daiichi Kigenso Kagaku-Kogyo Co., Ltd. 1,200 52,788 0.0% Daiichi Sankyo Co., Ltd. 15,800 237,661 0.0% Daiichikosho Co., Ltd. 5,300 133,753 0.0% Daiken Corp. 39,000 87,770 0.0% # Daiken Medical Co., Ltd. 2,000 38,476 0.0% Daiki Aluminium Industry Co., Ltd. 10,000 27,765 0.0% Daikin Industries, Ltd. 2,000 125,016 0.0% Daikoku Denki Co., Ltd. 3,300 54,310 0.0% Daikokutenbussan Co., Ltd. 1,700 49,466 0.0% Daikyo, Inc. 129,000 242,518 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) Dainichiseika Color & Chemicals Manufacturing Co., Ltd. 26,000 $ 141,024 0.0% # Daio Paper Corp. 44,000 378,115 0.1% Daisan Bank, Ltd. (The) 46,000 73,303 0.0% Daiseki Co., Ltd. 5,400 94,559 0.0% Daishi Bank, Ltd. (The) 107,000 378,636 0.1% # Daishinku Corp. 20,000 62,395 0.0% Daiso Co., Ltd. 25,000 81,536 0.0% # Daisyo Corp. 2,000 24,166 0.0% Daito Bank, Ltd. (The) 39,000 51,373 0.0% Daito Electron Co., Ltd. 1,200 5,253 0.0% Daito Pharmaceutical Co., Ltd. 5,300 95,357 0.0% Daito Trust Construction Co., Ltd. 2,800 348,882 0.0% Daiwa House Industry Co., Ltd. 19,000 359,472 0.0% Daiwa Securities Group, Inc. 129,447 1,023,014 0.1% Daiwabo Holdings Co., Ltd. 83,000 151,397 0.0% DBS Co Ltd 4,200 26,006 0.0% DC Co., Ltd. 3,400 15,712 0.0% DCM Holdings Co., Ltd. 43,100 288,741 0.0% # Dena Co., Ltd. 24,800 320,469 0.0% Denki Kagaku Kogyo K.K. 246,000 803,558 0.1% Denso Corp. 6,000 275,002 0.0% Dentsu, Inc. 4,300 159,872 0.0% Denyo Co., Ltd. 5,100 67,623 0.0% Descente, Ltd. 14,000 130,866 0.0% DIC Corp. 204,000 418,096 0.1% Disco Corp. 1,700 116,041 0.0% DKS Co., Ltd. 28,000 105,208 0.0% DMG Mori Seiki Co., Ltd. 17,700 208,463 0.0% Don Quijote Holdings Co., Ltd. 1,600 95,865 0.0% Doshisha Co., Ltd. 10,000 165,371 0.0% Doutor Nichires Holdings Co., Ltd. 15,000 223,460 0.0% Dowa Holdings Co., Ltd. 34,000 286,301 0.0% # Dr Ci:Labo Co., Ltd. 2,900 92,116 0.0% Dream Incubator, Inc. 2,100 32,677 0.0% DTS Corp. 6,800 139,899 0.0% Dunlop Sports Co., Ltd. 4,200 49,179 0.0% Duskin Co., Ltd. 6,300 103,169 0.0% Dynic Corp. 5,000 8,002 0.0% Eagle Industry Co., Ltd. 6,500 124,674 0.0% Earth Chemical Co., Ltd. 100 3,667 0.0% Ebara Corp. 78,000 428,567 0.1% Ebara Jitsugyo Co., Ltd. 2,400 30,061 0.0% # EDION Corp. 32,700 233,306 0.0% # Ehime Bank, Ltd. (The) 43,000 95,184 0.0% Eidai Co., Ltd. 11,000 44,949 0.0% Eighteenth Bank, Ltd. (The) 68,000 192,637 0.0% Eiken Chemical Co., Ltd. 4,400 76,792 0.0% Eizo Corp. 8,100 148,092 0.0% Elecom Co., Ltd. 2,400 51,555 0.0% Elematec Corp. 2,574 55,352 0.0% # Emori Group Holdings Co., Ltd. 5,200 53,065 0.0% en-japan, Inc. 3,400 59,941 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) # Endo Lighting Corp. 3,800 $ 42,863 0.0% Enplas Corp. 2,600 98,344 0.0% * Enshu, Ltd. 31,000 33,760 0.0% EPS Corp. 6,800 80,372 0.0% Excel Co., Ltd. 1,700 21,275 0.0% Exedy Corp. 16,200 409,492 0.1% Ezaki Glico Co., Ltd. 7,000 226,600 0.0% F-Tech, Inc. 1,200 12,993 0.0% F@N Communications, Inc. 8,100 70,737 0.0% FALCO HOLDINGS Co., Ltd. 1,000 11,049 0.0% # FamilyMart Co., Ltd. 2,200 88,337 0.0% # Fancl Corp. 14,600 200,276 0.0% # FCC Co., Ltd. 17,100 291,022 0.0% #* FDK Corp. 29,000 38,468 0.0% * Feed One Holdings Co., Ltd. 33,840 32,537 0.0% # Ferrotec Corp. 17,400 94,855 0.0% # FIDEA Holdings Co., Ltd. 57,800 115,488 0.0% # Fields Corp. 6,900 90,346 0.0% # Financial Products Group Co., Ltd. 4,700 48,394 0.0% * First Baking Co., Ltd. 4,000 4,854 0.0% # Foster Electric Co., Ltd. 12,900 204,371 0.0% # FP Corp. 4,900 141,222 0.0% France Bed Holdings Co., Ltd. 39,000 64,325 0.0% # Fudo Tetra Corp. 38,700 94,925 0.0% Fuji Co., Ltd. 4,300 84,638 0.0% # Fuji Corp., Ltd. 15,200 86,428 0.0% Fuji Electric Co., Ltd. 59,000 259,215 0.0% # Fuji Electronics Co., Ltd. 4,900 58,521 0.0% Fuji Furukawa Engineering & Construction Co., Ltd. 2,000 4,965 0.0% Fuji Kiko Co., Ltd. 11,000 54,777 0.0% Fuji Kosan Co., Ltd. 100 565 0.0% # Fuji Kyuko Co., Ltd. 12,000 124,699 0.0% Fuji Media Holdings, Inc. 10,200 140,737 0.0% Fuji Oil Co., Ltd.(6356848) 28,100 446,252 0.1% # Fuji Oil Co., Ltd.(6581361) 21,300 64,501 0.0% Fuji Pharma Co., Ltd. 1,300 24,084 0.0% Fuji Seal International, Inc. 5,500 165,790 0.0% Fuji Soft, Inc. 8,200 202,998 0.0% Fujibo Holdings, Inc. 35,000 97,008 0.0% Fujicco Co., Ltd. 7,000 104,434 0.0% FUJIFILM Holdings Corp. 21,700 728,438 0.1% Fujikura Kasei Co., Ltd. 7,100 36,747 0.0% # Fujikura Rubber, Ltd. 4,200 30,294 0.0% Fujikura, Ltd. 182,000 764,510 0.1% Fujimi, Inc. 8,800 120,920 0.0% Fujimori Kogyo Co., Ltd. 4,800 132,534 0.0% #* Fujisash Co., Ltd. 20,100 28,288 0.0% Fujishoji Co., Ltd. 1,100 12,730 0.0% # Fujita Kanko, Inc. 9,000 31,628 0.0% # Fujitec Co., Ltd. 21,000 209,661 0.0% Fujitsu Frontech, Ltd. 7,300 99,877 0.0% Fujitsu General, Ltd. 15,000 187,776 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) Fujitsu, Ltd. 118,000 $ 717,377 0.1% # Fujiya Co., Ltd. 16,000 28,476 0.0% FuKoKu Co., Ltd. 1,100 12,184 0.0% Fukuda Corp. 10,000 105,296 0.0% Fukui Bank, Ltd. (The) 78,000 186,902 0.0% Fukuoka Financial Group, Inc. 132,000 675,451 0.1% Fukushima Bank, Ltd. (The) 108,000 83,976 0.0% Fukushima Industries Corp. 3,300 64,850 0.0% # Fukuyama Transporting Co., Ltd. 45,000 225,833 0.0% Funai Soken Holdings, Inc. 3,700 32,629 0.0% # Furukawa Battery Co., Ltd. (The) 7,000 58,617 0.0% # Furukawa Co., Ltd. 102,000 200,471 0.0% # Furukawa Electric Co., Ltd. 270,000 476,524 0.1% Furuno Electric Co., Ltd. 10,300 84,588 0.0% Furuya Metal Co., Ltd. 400 9,497 0.0% Fuso Pharmaceutical Industries, Ltd. 26,000 76,502 0.0% Futaba Industrial Co., Ltd. 28,500 158,902 0.0% Future Architect, Inc. 10,200 58,337 0.0% Fuyo General Lease Co., Ltd. 4,300 169,770 0.0% G-Tekt Corp. 8,200 81,790 0.0% # Gakken Holdings Co., Ltd. 14,000 31,783 0.0% GCA Savvian Corp. 6,800 73,045 0.0% Gecoss Corp. 5,100 84,577 0.0% Genki Sushi Co., Ltd. 700 12,191 0.0% Genky Stores, Inc. 600 29,856 0.0% # Geo Holdings Corp. 21,300 188,079 0.0% GLOBERIDE, Inc. 43,000 58,274 0.0% Glory, Ltd. 14,800 381,388 0.1% # GMO internet, Inc. 14,800 124,268 0.0% # GMO Payment Gateway, Inc. 3,800 78,548 0.0% Godo Steel, Ltd. 57,000 79,140 0.0% Goldcrest Co., Ltd. 12,990 235,013 0.0% Goldwin, Inc. 7,000 39,336 0.0% # Gourmet Kineya Co., Ltd. 7,000 54,986 0.0% # Gree, Inc. 17,900 128,193 0.0% GS Yuasa Corp. 30,000 149,779 0.0% GSI Creos Corp. 26,000 34,009 0.0% Gulliver International Co., Ltd. 17,800 155,406 0.0% Gun-Ei Chemical Industry Co., Ltd. 20,000 61,819 0.0% # GungHo Online Entertainment, Inc. 14,400 58,041 0.0% Gunma Bank, Ltd. (The) 109,000 680,212 0.1% Gunze, Ltd. 84,000 233,775 0.0% # Gurunavi, Inc. 7,400 101,404 0.0% H-One Co., Ltd. 3,100 18,976 0.0% H2O Retailing Corp. 29,300 487,314 0.1% Hachijuni Bank, Ltd. (The) 114,000 698,001 0.1% Hagihara Industries, Inc. 2,900 42,320 0.0% Hakudo Co., Ltd. 1,500 14,124 0.0% Hakuhodo DY Holdings, Inc. 32,300 319,431 0.0% Hakuto Co., Ltd. 8,200 80,597 0.0% Hamakyorex Co., Ltd. 3,000 96,341 0.0% Hamamatsu Photonics K.K. 5,400 245,324 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) Hankyu Hanshin Holdings, Inc. 80,000 $ 470,366 0.1% Hanwa Co., Ltd. 65,000 234,367 0.0% # Happinet Corp. 7,700 132,074 0.0% Hard Off Corp. Co., Ltd. 1,800 14,651 0.0% Harima Chemicals Group, Inc. 2,100 8,955 0.0% # Harmonic Drive Systems, Inc. 1,500 19,365 0.0% Haruyama Trading Co., Ltd. 300 1,901 0.0% Haseko Corp. 18,500 135,604 0.0% # Hazama Ando Corp. 52,350 351,941 0.0% Heiwa Corp. 16,200 331,717 0.0% Heiwa Real Estate Co., Ltd. 25,400 417,343 0.1% Heiwado Co., Ltd. 16,100 299,716 0.0% HI-LEX Corp. 6,700 174,530 0.0% Hibiya Engineering, Ltd. 1,900 28,321 0.0% Hiday Hidaka Corp. 2,736 79,201 0.0% # Higashi Nihon House Co., Ltd. 21,700 91,973 0.0% Higashi-Nippon Bank, Ltd. (The) 62,000 157,080 0.0% Higo Bank, Ltd. (The) 57,000 324,453 0.0% Hikari Tsushin, Inc. 1,600 106,136 0.0% # Himaraya Co., Ltd. 1,900 16,393 0.0% Hino Motors, Ltd. 11,500 168,280 0.0% Hioki EE Corp. 3,100 47,790 0.0% Hiramatsu, Inc. 6,300 34,858 0.0% Hiroshima Bank, Ltd. (The) 150,000 749,906 0.1% Hisamitsu Pharmaceutical Co., Inc. 1,900 63,956 0.0% Hitachi Capital Corp. 14,300 353,461 0.0% Hitachi Chemical Co., Ltd. 21,500 378,948 0.1% # Hitachi Construction Machinery Co., Ltd. 10,300 210,680 0.0% Hitachi High-Technologies Corp. 6,900 210,791 0.0% # Hitachi Koki Co., Ltd. 27,300 234,730 0.0% # Hitachi Kokusai Electric, Inc. 3,000 44,937 0.0% Hitachi Metals, Ltd. 16,110 271,982 0.0% Hitachi Transport System, Ltd. 19,900 263,348 0.0% Hitachi Zosen Corp. 59,140 313,866 0.0% Hitachi, Ltd. 141,000 1,107,903 0.1% Hitachi, Ltd. ADR 4,900 390,040 0.1% Hochiki Corp. 2,000 16,751 0.0% Hodogaya Chemical Co., Ltd. 23,000 41,589 0.0% Hogy Medical Co., Ltd. 3,500 181,824 0.0% * Hokkaido Electric Power Co., Inc. 7,700 64,644 0.0% # Hokkaido Gas Co., Ltd. 1,000 2,586 0.0% Hokkan Holdings, Ltd. 8,000 20,512 0.0% Hokko Chemical Industry Co., Ltd. 6,000 20,252 0.0% Hokkoku Bank, Ltd. (The) 100,000 347,048 0.0% Hokuetsu Bank, Ltd. (The) 79,000 153,359 0.0% # Hokuetsu Kishu Paper Co., Ltd. 43,000 178,951 0.0% Hokuhoku Financial Group, Inc. 328,000 658,913 0.1% # Hokuriku Electric Industry Co., Ltd. 29,000 44,282 0.0% Hokuriku Electric Power Co. 8,500 114,753 0.0% Hokuto Corp. 9,000 164,089 0.0% Honda Motor Co., Ltd. 43,823 1,400,988 0.1% Honda Motor Co., Ltd. Sponsored ADR 14,859 477,271 0.1% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) Honeys Co., Ltd. 8,070 $ 75,449 0.0% # Hoosiers Holdings Co., Ltd. 15,200 72,699 0.0% Horiba, Ltd. 11,000 397,955 0.1% Hoshizaki Electric Co., Ltd. 2,800 135,625 0.0% Hosokawa Micron Corp. 17,000 95,359 0.0% House Foods Group, Inc. 23,400 400,427 0.1% Howa Machinery, Ltd. 7,500 49,965 0.0% Hoya Corp. 11,500 406,949 0.1% Hyakugo Bank, Ltd. (The) 99,000 417,506 0.1% Hyakujushi Bank, Ltd. (The) 94,000 305,586 0.0% I-Net Corp/Kanagawa 7,000 52,491 0.0% Ibiden Co., Ltd. 43,700 656,897 0.1% IBJ Leasing Co., Ltd. 5,200 123,212 0.0% # Ichibanya Co., Ltd. 1,500 70,543 0.0% # Ichikoh Industries, Ltd. 11,000 25,186 0.0% Ichinen Holdings Co., Ltd. 7,700 63,938 0.0% Ichiyoshi Securities Co., Ltd. 15,000 177,800 0.0% Idec Corp. 6,900 56,330 0.0% Idemitsu Kosan Co., Ltd. 30,000 580,189 0.1% Ihara Chemical Industry Co., Ltd. 10,000 101,354 0.0% IHI Corp. 68,000 327,803 0.0% Iida Group Holdings Co., Ltd. 22,120 245,801 0.0% Iino Kaiun Kaisha, Ltd. 42,900 237,051 0.0% * IJT Technology Holdings Co., Ltd. 3,000 13,213 0.0% # Ikegami Tsushinki Co., Ltd. 29,000 31,956 0.0% Ikyu Corp. 4,700 63,964 0.0% Imasen Electric Industrial 6,500 110,410 0.0% # Imperial Hotel, Ltd. 400 8,649 0.0% Inaba Denki Sangyo Co., Ltd. 9,800 341,607 0.0% Inaba Seisakusho Co., Ltd. 100 1,222 0.0% Inabata & Co., Ltd. 12,500 120,825 0.0% Inageya Co., Ltd. 5,800 61,337 0.0% Ines Corp. 16,800 139,097 0.0% Infocom Corp. 3,000 23,087 0.0% Information Services International-Dentsu, Ltd. 4,700 49,793 0.0% Innotech Corp. 7,000 33,610 0.0% Intage Holdings, Inc. 1,900 23,686 0.0% # Internet Initiative Japan, Inc. 7,700 135,198 0.0% # Inui Global Logistics Co., Ltd. 7,095 66,862 0.0% Iriso Electronics Co., Ltd. 1,800 122,650 0.0% Ise Chemical Corp. 3,000 20,413 0.0% # Iseki & Co., Ltd. 96,000 222,355 0.0% Isetan Mitsukoshi Holdings, Ltd. 18,000 245,053 0.0% * Ishihara Sangyo Kaisha, Ltd. 145,000 119,173 0.0% Ishii Iron Works Co., Ltd. 7,000 15,189 0.0% Ishizuka Glass Co., Ltd. 3,000 4,334 0.0% Isuzu Motors, Ltd. 33,000 430,563 0.1% IT Holdings Corp. 39,300 642,137 0.1% Itfor, Inc. 3,200 13,546 0.0% # Ito En, Ltd. 3,100 61,650 0.0% ITOCHU Corp. 60,700 733,774 0.1% Itochu Enex Co., Ltd. 22,700 145,429 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) Itochu Techno-Solutions Corp. 3,400 $ 135,179 0.0% Itochu-Shokuhin Co., Ltd. 1,600 52,839 0.0% Itoham Foods, Inc. 69,000 354,917 0.0% Itoki Corp. 16,153 90,793 0.0% IwaiCosmo Holdings, Inc. 6,600 72,796 0.0% Iwaki & Co., Ltd. 8,000 16,896 0.0% Iwasaki Electric Co., Ltd. 40,000 88,200 0.0% # Iwatani Corp. 50,000 341,857 0.0% Iyo Bank, Ltd. (The) 64,100 684,486 0.1% Izumi Co., Ltd. 2,600 83,651 0.0% * Izutsuya Co., Ltd. 62,000 35,350 0.0% J Front Retailing Co., Ltd. 28,500 379,331 0.1% # J-Oil Mills, Inc. 58,000 188,423 0.0% Jamco Corp. 3,000 66,288 0.0% #* Janome Sewing Machine Co., Ltd. 109,000 169,153 0.0% Japan Airport Terminal Co., Ltd. 9,100 359,023 0.0% Japan Aviation Electronics Industry, Ltd. 16,000 317,005 0.0% #* Japan Communications, Inc. 27,500 120,523 0.0% Japan Digital Laboratory Co., Ltd. 2,500 44,528 0.0% # Japan Drilling Co., Ltd. 2,300 96,154 0.0% Japan Exchange Group, Inc. 11,100 275,347 0.0% Japan Pulp & Paper Co., Ltd. 21,000 62,163 0.0% * Japan Radio Co., Ltd. 24,000 85,809 0.0% # Japan Steel Works, Ltd. (The) 101,000 361,280 0.0% Japan Transcity Corp. 11,000 37,194 0.0% Japan Wool Textile Co., Ltd. (The) 19,000 128,564 0.0% JBCC Holdings, Inc. 6,000 41,496 0.0% JCU Corp. 1,600 66,547 0.0% Jeol, Ltd. 49,000 235,672 0.0% JFE Holdings, Inc. 29,160 578,533 0.1% JGC Corp. 8,000 205,598 0.0% Jimoto Holdings, Inc. 34,600 72,650 0.0% # Jin Co., Ltd. 3,700 80,637 0.0% JK Holdings Co., Ltd. 6,300 31,657 0.0% JMS Co., Ltd. 7,000 18,559 0.0% Joshin Denki Co., Ltd. 10,000 91,110 0.0% Jowa Holdings Co., Ltd. 5,100 181,199 0.0% # Joyo Bank, Ltd. (The) 104,000 556,885 0.1% # JP-Holdings, Inc. 10,800 40,095 0.0% JSP Corp. 7,600 120,504 0.0% JSR Corp. 9,700 174,680 0.0% JTEKT Corp. 22,400 360,263 0.0% #* Juki Corp. 32,000 99,795 0.0% Juroku Bank, Ltd. (The) 147,000 579,766 0.1% * Justsystems Corp. 7,800 58,850 0.0% #* JVC Kenwood Corp. 80,970 154,802 0.0% JX Holdings, Inc. 186,870 800,486 0.1% K&O Energy Group, Inc. 6,000 75,766 0.0% # K's Holdings Corp. 13,080 361,234 0.0% # kabu.com Securities Co., Ltd. 29,300 145,665 0.0% #* Kadokawa Dwango Corp. 13,177 241,658 0.0% Kaga Electronics Co., Ltd. 7,500 86,393 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) # Kagome Co., Ltd. 8,400 $ 136,278 0.0% Kagoshima Bank, Ltd. (The) 45,000 291,830 0.0% Kajima Corp. 50,843 226,229 0.0% Kakaku.com, Inc. 8,800 119,816 0.0% Kaken Pharmaceutical Co., Ltd. 14,000 350,756 0.0% Kameda Seika Co., Ltd. 1,400 42,301 0.0% Kamei Corp. 8,000 57,319 0.0% Kamigumi Co., Ltd. 63,000 607,436 0.1% # Kanagawa Chuo Kotsu Co., Ltd. 7,000 33,961 0.0% Kanamoto Co., Ltd. 8,000 292,004 0.0% Kandenko Co., Ltd. 44,000 230,868 0.0% Kaneka Corp. 98,000 538,445 0.1% Kanematsu Corp. 195,000 310,266 0.0% Kansai Paint Co., Ltd. 14,000 214,012 0.0% Kansai Super Market, Ltd. 1,900 13,084 0.0% # Kansai Urban Banking Corp. 10,300 113,604 0.0% * Kanto Denka Kogyo Co., Ltd. 21,000 82,602 0.0% * Kappa Create Holdings Co., Ltd. 1,100 10,100 0.0% Kasai Kogyo Co., Ltd. 16,000 141,498 0.0% # Kasumi Co., Ltd. 13,600 128,001 0.0% Katakura Industries Co., Ltd. 10,900 131,854 0.0% Kato Sangyo Co., Ltd. 9,200 195,760 0.0% Kato Works Co., Ltd. 19,000 139,886 0.0% # KAWADA TECHNOLOGIES, Inc. 1,000 44,251 0.0% Kawai Musical Instruments Manufacturing Co., Ltd. 3,600 67,700 0.0% Kawasaki Heavy Industries, Ltd. 91,000 357,438 0.0% Kawasaki Kisen Kaisha, Ltd. 296,000 674,402 0.1% Kawasumi Laboratories, Inc. 5,000 33,652 0.0% KDDI Corp. 8,900 584,458 0.1% # Keihan Electric Railway Co., Ltd. 99,000 485,216 0.1% Keihanshin Building Co., Ltd. 23,500 132,338 0.0% Keihin Co., Ltd. 17,000 24,744 0.0% Keihin Corp. 22,300 281,739 0.0% Keisei Electric Railway Co., Ltd. 13,000 152,796 0.0% Keiyo Bank, Ltd. (The) 83,000 433,941 0.1% # Keiyo Co., Ltd. 10,800 49,193 0.0% # Kenko Mayonnaise Co., Ltd. 900 9,709 0.0% Kewpie Corp. 11,500 198,775 0.0% Key Coffee, Inc. 7,600 109,549 0.0% Kikkoman Corp. 10,000 230,012 0.0% # Kimoto Co., Ltd. 19,800 55,481 0.0% #* Kintetsu Department Store Co., Ltd. 11,000 31,417 0.0% Kintetsu World Express, Inc. 3,800 131,504 0.0% Kinugawa Rubber Industrial Co., Ltd. 34,000 144,116 0.0% Kirin Holdings Co., Ltd. 26,680 345,901 0.0% Kita-Nippon Bank, Ltd. (The) 3,200 76,064 0.0% Kitagawa Iron Works Co., Ltd. 47,000 83,908 0.0% Kitano Construction Corp. 17,000 52,604 0.0% # Kito Corp. 7,600 87,201 0.0% Kitz Corp. 40,300 184,681 0.0% Kiyo Bank, Ltd. (The) 19,500 280,369 0.0% * KNT-CT Holdings Co., Ltd. 47,000 71,331 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) Koa Corp. 16,500 $ 146,354 0.0% Koatsu Gas Kogyo Co., Ltd. 8,000 42,560 0.0% # Kobayashi Pharmaceutical Co., Ltd. 1,700 104,935 0.0% Kobe Steel, Ltd. 989,000 1,571,370 0.1% # Kobelco Eco-Solutions Co., Ltd. 3,000 18,357 0.0% # Kohnan Shoji Co., Ltd. 16,400 188,184 0.0% Kohsoku Corp. 200 1,659 0.0% Koito Manufacturing Co., Ltd. 12,000 361,587 0.1% Kojima Co., Ltd. 9,400 25,574 0.0% Kokusai Co., Ltd. 900 14,518 0.0% Kokuyo Co., Ltd. 26,800 213,455 0.0% # KOMAIHALTEC, Inc. 12,000 29,126 0.0% Komatsu Seiren Co., Ltd. 3,000 15,033 0.0% Komatsu, Ltd. 14,100 332,892 0.0% Komeri Co., Ltd. 14,500 325,953 0.0% Konaka Co., Ltd. 8,700 49,550 0.0% # Konami Corp. 8,300 166,649 0.0% Konami Corp. ADR 200 4,026 0.0% Kondotec, Inc. 3,100 19,951 0.0% Konica Minolta, Inc. 62,700 700,593 0.1% Konishi Co., Ltd. 8,000 138,077 0.0% # Kose Corp. 5,900 241,117 0.0% # Kosei Securities Co., Ltd. (The) 10,000 21,017 0.0% Koshidaka Holdings Co., Ltd. 3,000 51,228 0.0% # Kotobuki Spirits Co., Ltd. 1,200 23,872 0.0% Krosaki Harima Corp. 35,000 75,479 0.0% KRS Corp. 1,700 19,655 0.0% # KU Holdings Co., Ltd. 800 4,285 0.0% Kubota Corp. 21,000 334,278 0.0% * Kumagai Gumi Co., Ltd. 31,000 112,159 0.0% Kumiai Chemical Industry Co., Ltd. 18,000 110,704 0.0% Kura Corp. 4,200 113,869 0.0% Kurabo Industries, Ltd. 83,000 138,007 0.0% Kuraray Co., Ltd. 13,300 154,480 0.0% # Kureha Corp. 66,000 327,336 0.0% Kurimoto, Ltd. 43,000 88,052 0.0% Kurita Water Industries, Ltd. 14,700 317,216 0.0% # Kuroda Electric Co., Ltd. 13,300 187,008 0.0% Kusuri No Aoki Co., Ltd. 1,900 93,258 0.0% KYB Co., Ltd. 100,000 430,600 0.1% Kyocera Corp. 12,000 553,097 0.1% Kyocera Corp. Sponsored ADR 2,504 116,161 0.0% Kyodo Printing Co., Ltd. 35,000 124,192 0.0% # Kyoei Steel, Ltd. 8,900 148,134 0.0% Kyokuto Kaihatsu Kogyo Co., Ltd. 12,500 177,731 0.0% Kyokuto Securities Co., Ltd. 9,600 162,253 0.0% Kyokuyo Co., Ltd. 31,000 72,522 0.0% KYORIN Holdings, Inc. 14,700 309,696 0.0% # Kyoritsu Maintenance Co., Ltd. 3,600 144,875 0.0% Kyoritsu Printing Co., Ltd. 3,700 9,745 0.0% Kyosan Electric Manufacturing Co., Ltd. 20,000 64,077 0.0% Kyoto Kimono Yuzen Co., Ltd. 2,100 18,923 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) Kyowa Electronics Instruments Co., Ltd. 3,000 $ 12,499 0.0% Kyowa Exeo Corp. 26,500 324,498 0.0% Kyowa Hakko Kirin Co., Ltd. 13,000 151,623 0.0% Kyudenko Corp. 18,000 202,406 0.0% LAC Co., Ltd. 3,300 25,874 0.0% # Land Business Co., Ltd. 1,900 7,076 0.0% Lasertec Corp. 6,000 75,070 0.0% Lawson, Inc. 2,300 156,026 0.0% LEC, Inc. 1,400 14,463 0.0% * Leopalace21 Corp. 59,900 375,181 0.1% # Life Corp. 3,600 57,743 0.0% Lintec Corp. 19,500 407,131 0.1% Lion Corp. 30,000 169,496 0.0% #* Livesense, Inc. 2,000 14,972 0.0% LIXIL Group Corp. 14,200 311,411 0.0% Look, Inc. 15,000 31,878 0.0% M3, Inc. 6,800 113,482 0.0% # Macnica, Inc. 4,700 136,227 0.0% # Maeda Corp. 50,000 442,062 0.1% # Maeda Kosen Co., Ltd. 4,300 52,312 0.0% Maeda Road Construction Co., Ltd. 20,000 308,289 0.0% Maezawa Kyuso Industries Co., Ltd. 1,300 15,848 0.0% # Makino Milling Machine Co., Ltd. 59,000 402,198 0.1% Makita Corp. 900 50,399 0.0% Makita Corp. Sponsored ADR 1,988 110,533 0.0% # Mamiya-Op Co., Ltd. 27,000 48,931 0.0% Mandom Corp. 3,600 120,769 0.0% Mani, Inc. 700 44,739 0.0% Mars Engineering Corp. 5,000 90,833 0.0% Marubeni Corp. 74,300 477,708 0.1% Marubun Corp. 4,600 29,462 0.0% Marudai Food Co., Ltd. 53,000 196,295 0.0% #* Maruei Department Store Co., Ltd. 18,000 23,226 0.0% Maruetsu, Inc. (The) 25,000 121,956 0.0% Marufuji Sheet Piling Co., Ltd. 3,000 10,829 0.0% Maruha Nichiro Corp. 10,800 156,413 0.0% # Marui Group Co., Ltd. 68,600 579,754 0.1% Maruka Machinery Co., Ltd. 1,900 22,777 0.0% Marusan Securities Co., Ltd. 38,600 283,247 0.0% Maruwa Co., Ltd. 3,500 103,690 0.0% Maruyama Manufacturing Co., Inc. 28,000 62,804 0.0% * Maruzen CHI Holdings Co., Ltd. 700 2,399 0.0% # Maruzen Showa Unyu Co., Ltd. 16,000 51,023 0.0% # Marvelous, Inc. 4,500 52,477 0.0% Matsuda Sangyo Co., Ltd. 6,100 67,524 0.0% Matsui Construction Co., Ltd. 7,000 33,026 0.0% # Matsui Securities Co., Ltd. 4,400 42,218 0.0% Matsumotokiyoshi Holdings Co., Ltd. 11,100 322,811 0.0% Matsuya Foods Co., Ltd. 2,100 40,319 0.0% Max Co., Ltd. 11,000 123,744 0.0% Maxvalu Tokai Co., Ltd. 1,500 21,457 0.0% Mazda Motor Corp. 8,300 196,102 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) McDonald's Holdings Co. Japan, Ltd. 2,100 $ 51,256 0.0% MEC Co., Ltd. 6,600 67,370 0.0% Medipal Holdings Corp. 28,100 311,465 0.0% Megachips Corp. 9,800 127,438 0.0% Megmilk Snow Brand Co., Ltd. 22,500 298,532 0.0% Meidensha Corp. 51,000 188,983 0.0% Meiji Holdings Co., Ltd. 5,750 482,440 0.1% # Meiko Network Japan Co., Ltd. 7,500 84,334 0.0% Meisei Industrial Co., Ltd. 13,000 83,498 0.0% Meitec Corp. 5,200 163,066 0.0% Meito Sangyo Co., Ltd. 1,100 11,168 0.0% Meiwa Corp. 9,600 35,721 0.0% Meiwa Estate Co., Ltd. 2,000 9,464 0.0% # Melco Holdings, Inc. 7,300 104,609 0.0% Message Co., Ltd. 3,600 113,141 0.0% # Michinoku Bank, Ltd. (The) 45,000 85,955 0.0% # Micronics Japan Co., Ltd. 4,000 203,607 0.0% Mie Bank, Ltd. (The) 26,000 60,639 0.0% Mikuni Corp. 5,000 19,036 0.0% Milbon Co., Ltd. 2,352 75,560 0.0% Mimasu Semiconductor Industry Co., Ltd. 4,200 37,786 0.0% Minato Bank, Ltd. (The) 75,000 147,877 0.0% Minebea Co., Ltd. 49,000 671,419 0.1% # Ministop Co., Ltd. 7,800 111,052 0.0% Miraca Holdings, Inc. 5,500 230,887 0.0% Mirait Holdings Corp. 32,810 367,270 0.1% Miroku Jyoho Service Co., Ltd. 1,500 8,301 0.0% Misawa Homes Co., Ltd. 14,100 129,252 0.0% MISUMI Group, Inc. 5,300 167,236 0.0% Mitani Corp. 3,800 96,392 0.0% Mito Securities Co., Ltd. 26,000 97,755 0.0% Mitsuba Corp. 10,900 173,489 0.0% Mitsubishi Chemical Holdings Corp. 404,700 1,993,506 0.2% Mitsubishi Corp. 62,900 1,233,365 0.1% Mitsubishi Electric Corp. 33,000 425,495 0.1% Mitsubishi Gas Chemical Co., Inc. 72,789 435,510 0.1% Mitsubishi Heavy Industries, Ltd. 104,000 648,756 0.1% #* Mitsubishi Kakoki Kaisha, Ltd. 13,000 48,217 0.0% Mitsubishi Logistics Corp. 28,000 426,481 0.1% Mitsubishi Materials Corp. 323,800 1,013,465 0.1% Mitsubishi Motors Corp. 24,400 251,056 0.0% Mitsubishi Nichiyu Forklift Co., Ltd. 7,000 51,484 0.0% * Mitsubishi Paper Mills, Ltd. 154,000 119,108 0.0% # Mitsubishi Pencil Co., Ltd. 4,125 132,996 0.0% Mitsubishi Research Institute, Inc. 1,200 27,265 0.0% Mitsubishi Shokuhin Co., Ltd. 5,700 128,397 0.0% Mitsubishi Steel Manufacturing Co., Ltd. 83,000 183,451 0.0% Mitsubishi Tanabe Pharma Corp. 12,800 194,652 0.0% Mitsubishi UFJ Financial Group, Inc. 740,600 4,317,115 0.4% Mitsubishi UFJ Financial Group, Inc. ADR 16,850 99,078 0.0% Mitsuboshi Belting Co., Ltd. 22,000 157,581 0.0% Mitsui & Co., Ltd. 68,300 1,031,266 0.1% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) Mitsui & Co., Ltd. Sponsored ADR 471 $ 143,796 0.0% * Mitsui Chemicals, Inc. 238,000 689,414 0.1% Mitsui Engineering & Shipbuilding Co., Ltd. 396,000 860,891 0.1% Mitsui Fudosan Co., Ltd. 10,000 321,664 0.0% Mitsui High-Tec, Inc. 13,700 82,109 0.0% Mitsui Home Co., Ltd. 6,000 26,286 0.0% # Mitsui Matsushima Co., Ltd. 94,000 114,057 0.0% Mitsui Mining & Smelting Co., Ltd. 321,000 851,477 0.1% # Mitsui OSK Lines, Ltd. 181,000 571,843 0.1% Mitsui Sugar Co., Ltd. 36,000 124,874 0.0% Mitsui-Soko Co., Ltd. 50,000 190,089 0.0% Mitsuuroko Group Holdings Co., Ltd. 11,300 55,200 0.0% Miura Co., Ltd. 23,700 277,362 0.0% # Miyaji Engineering Group, Inc. 23,000 44,863 0.0% Miyazaki Bank, Ltd. (The) 63,000 189,914 0.0% Miyoshi Oil & Fat Co., Ltd. 20,000 24,849 0.0% Mizuho Financial Group, Inc. 1,369,660 2,495,953 0.2% # Mizuno Corp. 33,000 165,336 0.0% Mochida Pharmaceutical Co., Ltd. 2,200 137,573 0.0% # Monex Group, Inc. 86,000 219,499 0.0% # Money Partners Group Co., Ltd. 4,900 18,499 0.0% Monogatari Corp. (The) 1,000 32,331 0.0% # MonotaRO Co., Ltd. 6,500 171,742 0.0% Morinaga & Co., Ltd. 66,000 141,525 0.0% Morinaga Milk Industry Co., Ltd. 98,000 327,673 0.0% Morita Holdings Corp. 13,000 126,650 0.0% Mory Industries, Inc. 7,000 26,821 0.0% MOS Food Services, Inc. 700 13,659 0.0% # Moshi Moshi Hotline, Inc. 10,900 108,780 0.0% Mr Max Corp. 8,900 24,691 0.0% MS&AD Insurance Group Holdings, Inc. 23,282 503,281 0.1% MTI, Ltd. 5,400 53,058 0.0% Murakami Corp. 2,000 26,350 0.0% # Murata Manufacturing Co., Ltd. 2,100 235,957 0.0% # Musashi Seimitsu Industry Co., Ltd. 9,200 180,613 0.0% Musashino Bank, Ltd. (The) 9,700 328,667 0.0% # Mutoh Holdings Co., Ltd. 15,000 71,866 0.0% Nabtesco Corp. 4,700 113,742 0.0% # NAC Co., Ltd. 2,800 31,087 0.0% Nachi-Fujikoshi Corp. 43,000 267,214 0.0% Nagaileben Co., Ltd. 1,800 34,598 0.0% Nagano Bank, Ltd. (The) 20,000 33,958 0.0% Nagase & Co., Ltd. 34,000 440,394 0.1% Nagatanien Co., Ltd. 3,000 29,309 0.0% Nagoya Railroad Co., Ltd. 39,000 166,761 0.0% Nakabayashi Co., Ltd. 9,000 16,729 0.0% Nakamuraya Co., Ltd. 10,083 39,078 0.0% Nakanishi, Inc. 2,000 68,400 0.0% * Nakayama Steel Works, Ltd. 50,000 36,086 0.0% Nakayamafuku Co., Ltd. 600 4,383 0.0% # Nankai Electric Railway Co., Ltd. 23,000 108,831 0.0% Nanto Bank, Ltd. (The) 72,000 289,045 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) Natori Co., Ltd. 700 $ 7,190 0.0% NDS Co., Ltd. 10,000 28,061 0.0% NEC Capital Solutions, Ltd. 1,400 26,489 0.0% NEC Corp. 340,000 1,202,368 0.1% NEC Networks & System Integration Corp. 9,200 199,894 0.0% # NET One Systems Co., Ltd. 42,800 249,475 0.0% Neturen Co., Ltd. 12,700 90,859 0.0% #* New Japan Chemical Co., Ltd. 6,900 14,257 0.0% Nexon Co., Ltd. 8,500 74,904 0.0% Next Co., Ltd. 5,400 30,696 0.0% NGK Insulators, Ltd. 7,000 150,766 0.0% NGK Spark Plug Co., Ltd. 8,000 208,644 0.0% NH Foods, Ltd. 21,000 484,253 0.1% NHK Spring Co., Ltd. 39,000 356,941 0.0% Nice Holdings, Inc. 15,000 28,558 0.0% Nichi-iko Pharmaceutical Co., Ltd. 14,550 240,513 0.0% Nichia Steel Works, Ltd. 2,000 6,057 0.0% # Nichias Corp. 29,000 176,220 0.0% Nichiban Co., Ltd. 9,000 31,452 0.0% # Nichicon Corp. 14,100 95,080 0.0% Nichiden Corp. 200 4,261 0.0% Nichiha Corp. 13,400 114,811 0.0% # Nichii Gakkan Co. 18,500 143,554 0.0% Nichimo Co., Ltd. 13,000 21,857 0.0% Nichirei Corp. 93,000 395,821 0.1% Nichireki Co., Ltd. 13,000 103,093 0.0% # Nidec Corp. 4,719 311,770 0.0% Nifco, Inc. 10,700 339,047 0.0% NIFTY Corp. 3,400 40,910 0.0% # Nihon Chouzai Co., Ltd. 720 19,106 0.0% Nihon Dempa Kogyo Co., Ltd. 10,300 81,405 0.0% Nihon Eslead Corp. 6,000 54,914 0.0% Nihon Kohden Corp. 3,900 199,395 0.0% Nihon M&A Center, Inc. 6,400 183,931 0.0% Nihon Nohyaku Co., Ltd. 12,000 122,135 0.0% Nihon Parkerizing Co., Ltd. 10,000 238,697 0.0% # Nihon Trim Co., Ltd. 1,900 42,633 0.0% Nihon Unisys, Ltd. 22,000 195,031 0.0% Nihon Yamamura Glass Co., Ltd. 49,000 74,109 0.0% Nikkiso Co., Ltd. 18,400 190,311 0.0% Nikko Co., Ltd. 12,000 45,828 0.0% # Nikon Corp. 15,300 209,635 0.0% Nippo Corp. 22,000 402,131 0.1% Nippon Air Conditioning Services Co., Ltd. 2,700 18,206 0.0% Nippon Beet Sugar Manufacturing Co., Ltd. 46,000 77,376 0.0% # Nippon Carbide Industries Co., Inc. 28,000 57,539 0.0% Nippon Carbon Co., Ltd. 50,000 83,955 0.0% * Nippon Chemi-Con Corp. 81,000 241,650 0.0% #* Nippon Chemical Industrial Co., Ltd. 45,000 66,311 0.0% Nippon Chemiphar Co., Ltd. 11,000 57,395 0.0% # Nippon Chutetsukan K.K. 12,000 26,459 0.0% Nippon Coke & Engineering Co., Ltd. 81,500 81,316 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) # Nippon Concrete Industries Co., Ltd. 19,000 $ 113,628 0.0% Nippon Denko Co., Ltd. 56,265 141,323 0.0% Nippon Densetsu Kogyo Co., Ltd. 17,600 248,589 0.0% Nippon Electric Glass Co., Ltd. 122,000 567,305 0.1% Nippon Express Co., Ltd. 108,000 475,088 0.1% Nippon Filcon Co., Ltd. 1,800 8,251 0.0% Nippon Fine Chemical Co., Ltd. 4,800 36,977 0.0% Nippon Flour Mills Co., Ltd. 62,000 311,198 0.0% Nippon Gas Co., Ltd. 6,400 158,364 0.0% Nippon Hume Corp. 10,000 79,883 0.0% Nippon Jogesuido Sekkei Co., Ltd. 1,400 17,645 0.0% Nippon Kanzai Co., Ltd. 500 13,044 0.0% Nippon Kasei Chemical Co., Ltd. 8,000 10,271 0.0% Nippon Kayaku Co., Ltd. 29,000 381,322 0.1% #* Nippon Kinzoku Co., Ltd. 16,000 22,210 0.0% # Nippon Kodoshi Corp. 1,500 16,624 0.0% Nippon Koei Co., Ltd. 32,000 135,292 0.0% Nippon Konpo Unyu Soko Co., Ltd. 18,500 306,096 0.0% #* Nippon Koshuha Steel Co., Ltd. 66,000 67,563 0.0% Nippon Light Metal Holdings Co., Ltd. 274,600 405,556 0.1% # Nippon Paint Holdings Co., Ltd. 11,000 249,781 0.0% Nippon Paper Industries Co., Ltd. 39,824 586,093 0.1% # Nippon Parking Development Co., Ltd. 38,200 41,770 0.0% Nippon Pillar Packing Co., Ltd. 8,000 63,535 0.0% Nippon Piston Ring Co., Ltd. 51,000 109,003 0.0% Nippon Road Co., Ltd. (The) 35,000 194,591 0.0% Nippon Seisen Co., Ltd. 6,000 38,662 0.0% # Nippon Sharyo, Ltd. 27,000 83,454 0.0% * Nippon Sheet Glass Co., Ltd. 481,000 461,127 0.1% Nippon Shinyaku Co., Ltd. 7,000 201,477 0.0% Nippon Shokubai Co., Ltd. 32,000 383,569 0.1% Nippon Signal Co., Ltd. (The) 23,000 224,200 0.0% Nippon Soda Co., Ltd. 52,000 296,113 0.0% Nippon Steel & Sumikin Bussan Corp. 41,000 149,196 0.0% Nippon Steel & Sumikin Texeng Co., Ltd. 18,000 93,902 0.0% Nippon Steel & Sumitomo Metal Corp. 488,562 1,289,239 0.1% * Nippon Suisan Kaisha, Ltd. 100,600 297,383 0.0% Nippon Synthetic Chemical Industry Co., Ltd. (The) 22,000 134,324 0.0% Nippon Thompson Co., Ltd. 35,000 146,692 0.0% Nippon Valqua Industries, Ltd. 21,000 57,297 0.0% #* Nippon Yakin Kogyo Co., Ltd. 33,500 86,517 0.0% # Nippon Yusen K.K. 283,217 734,257 0.1% # Nipro Corp. 48,200 397,120 0.1% Nishi-Nippon City Bank, Ltd. (The) 212,000 581,138 0.1% Nishi-Nippon Railroad Co., Ltd. 29,000 115,551 0.0% Nishikawa Rubber Co., Ltd. 1,400 24,183 0.0% Nishimatsu Construction Co., Ltd. 30,000 145,661 0.0% Nishimatsuya Chain Co., Ltd. 21,000 189,836 0.0% Nishio Rent All Co., Ltd. 3,900 141,059 0.0% Nissan Chemical Industries, Ltd. 10,400 192,825 0.0% Nissan Motor Co., Ltd. 107,200 977,846 0.1% Nissan Shatai Co., Ltd. 16,000 220,170 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) Nissan Tokyo Sales Holdings Co., Ltd. 5,000 $ 12,622 0.0% Nissei ASB Machine Co., Ltd. 2,500 50,761 0.0% # Nissei Build Kogyo Co., Ltd. 22,000 57,145 0.0% Nissei Plastic Industrial Co., Ltd. 2,700 21,557 0.0% * Nissen Holdings Co., Ltd. 3,500 11,174 0.0% Nissha Printing Co., Ltd. 10,500 169,295 0.0% # Nisshin Oillio Group, Ltd. (The) 27,000 96,763 0.0% Nisshin Seifun Group, Inc. 58,465 591,199 0.1% # Nisshin Steel Co., Ltd. 22,740 212,324 0.0% Nisshinbo Holdings, Inc. 53,000 437,698 0.1% Nissin Corp. 22,000 55,157 0.0% Nissin Electric Co., Ltd. 21,000 113,639 0.0% Nissin Foods Holdings Co., Ltd. 2,200 115,951 0.0% Nissin Kogyo Co., Ltd. 14,900 230,285 0.0% Nissin Sugar Co., Ltd. 700 14,618 0.0% Nissui Pharmaceutical Co., Ltd. 3,400 38,432 0.0% Nitori Holdings Co., Ltd. 1,700 107,738 0.0% Nitta Corp. 7,800 175,379 0.0% Nitta Gelatin, Inc. 1,900 14,428 0.0% Nittan Valve Co., Ltd. 4,200 11,955 0.0% Nittetsu Mining Co., Ltd. 28,000 106,148 0.0% Nitto Boseki Co., Ltd. 54,000 192,424 0.0% Nitto Denko Corp. 7,800 421,855 0.1% Nitto Kogyo Corp. 8,300 145,108 0.0% Nitto Kohki Co., Ltd. 4,200 78,850 0.0% Nitto Seiko Co., Ltd. 10,000 33,525 0.0% Nittoc Construction Co., Ltd. 12,200 61,403 0.0% # Nittoku Engineering Co., Ltd. 4,300 41,851 0.0% NOF Corp. 45,000 298,225 0.0% Nohmi Bosai, Ltd. 8,000 114,251 0.0% NOK Corp. 26,600 673,896 0.1% Nomura Co., Ltd. 9,000 86,260 0.0% Nomura Holdings, Inc. 167,600 1,046,894 0.1% Nomura Holdings, Inc. ADR 7,820 49,657 0.0% Nomura Real Estate Holdings, Inc. 28,900 510,775 0.1% Nomura Research Institute, Ltd. 6,400 211,096 0.0% Noritake Co., Ltd. 47,000 108,066 0.0% Noritz Corp. 9,600 177,481 0.0% North Pacific Bank, Ltd. 162,100 668,256 0.1% NS Solutions Corp. 4,900 150,842 0.0% # NS United Kaiun Kaisha, Ltd. 57,000 142,259 0.0% # NSD Co., Ltd. 12,400 182,873 0.0% NSK, Ltd. 18,000 235,766 0.0% NTN Corp. 209,000 903,668 0.1% NTT Data Corp. 8,200 320,549 0.0% NTT DOCOMO, Inc. 58,872 992,928 0.1% NTT DOCOMO, Inc. Sponsored ADR 3,100 52,297 0.0% NTT Urban Development Corp. 8,000 90,544 0.0% # Nuflare Technology, Inc. 400 18,278 0.0% Obara Group, Inc. 3,300 120,211 0.0% Obayashi Corp. 33,000 226,468 0.0% Obayashi Road Corp. 17,000 121,497 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) OBIC Business Consultants, Ltd. 400 $ 12,099 0.0% Obic Co., Ltd. 4,000 142,796 0.0% Odelic Co., Ltd. 1,100 27,167 0.0% Oenon Holdings, Inc. 18,000 37,587 0.0% Ogaki Kyoritsu Bank, Ltd. (The) 123,000 342,206 0.0% * Ohara, Inc. 1,500 7,769 0.0% Ohashi Technica, Inc. 2,200 25,210 0.0% # Ohsho Food Service Corp. 2,300 83,079 0.0% OIE Sangyo Co., Ltd. 1,187 8,914 0.0% Oiles Corp. 5,616 110,231 0.0% Oita Bank, Ltd. (The) 52,000 194,852 0.0% Oji Holdings Corp. 235,000 849,652 0.1% Okabe Co., Ltd. 14,500 136,311 0.0% Okamoto Industries, Inc. 26,000 103,287 0.0% Okamura Corp. 27,000 197,017 0.0% Oki Electric Industry Co., Ltd. 182,000 422,870 0.1% Okinawa Cellular Telephone Co. 2,700 73,031 0.0% Okinawa Electric Power Co., Inc. (The) 3,700 112,838 0.0% # OKK Corp. 41,000 57,744 0.0% OKUMA Corp. 41,000 294,384 0.0% Okumura Corp. 41,000 232,763 0.0% Okura Industrial Co., Ltd. 15,000 51,192 0.0% Okuwa Co., Ltd. 5,000 41,513 0.0% Olympic Group Corp. 2,300 21,100 0.0% * Olympus Corp. 8,500 305,193 0.0% Omron Corp. 6,700 317,142 0.0% ONO Sokki Co., Ltd. 4,000 34,292 0.0% Onoken Co., Ltd. 7,400 76,126 0.0% # Onward Holdings Co., Ltd. 57,000 350,253 0.0% # OPT, Inc. 5,500 37,627 0.0% Optex Co., Ltd. 4,600 80,839 0.0% Oracle Corp. Japan 1,000 38,713 0.0% Organo Corp. 22,000 94,412 0.0% Origin Electric Co., Ltd. 7,000 26,510 0.0% Osaka Organic Chemical Industry, Ltd. 2,300 9,952 0.0% Osaka Steel Co., Ltd. 4,800 86,142 0.0% # OSAKA Titanium Technologies Co., Ltd. 3,500 68,065 0.0% # Osaki Electric Co., Ltd. 14,000 84,948 0.0% OSG Corp. 12,400 202,197 0.0% Otsuka Corp. 1,500 55,775 0.0% Otsuka Holdings Co., Ltd. 10,000 350,780 0.0% OUG Holdings, Inc. 15,000 31,327 0.0% # Outsourcing, Inc. 4,200 60,374 0.0% Pacific Industrial Co., Ltd. 18,500 140,184 0.0% #* Pacific Metals Co., Ltd. 51,000 161,344 0.0% Pack Corp. (The) 4,300 88,823 0.0% Pal Co., Ltd. 5,000 150,371 0.0% Paltac Corp. 8,350 101,748 0.0% # PanaHome Corp. 41,000 274,377 0.0% Panasonic Corp. 19,899 239,410 0.0% Panasonic Corp. Sponsored ADR 27,580 334,821 0.0% Panasonic Industrial Devices SUNX Co., Ltd. 9,300 50,042 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) Paramount Bed Holdings Co., Ltd. 5,200 $ 147,900 0.0% Parco Co., Ltd. 8,606 70,038 0.0% Paris Miki Holdings, Inc. 7,500 33,338 0.0% Park24 Co., Ltd. 6,800 102,896 0.0% # Pasco Corp. 6,000 18,760 0.0% # Pasona Group, Inc. 9,400 46,283 0.0% # Penta-Ocean Construction Co., Ltd. 104,500 341,537 0.0% Pigeon Corp. 2,800 174,545 0.0% Pilot Corp. 2,400 134,751 0.0% Piolax, Inc. 4,900 216,793 0.0% #* Pioneer Corp. 154,600 405,611 0.1% Plenus Co., Ltd. 6,000 107,923 0.0% # Pola Orbis Holdings, Inc. 2,700 110,883 0.0% # Press Kogyo Co., Ltd. 57,000 227,699 0.0% Pressance Corp. 4,600 129,277 0.0% # Prestige International, Inc. 4,800 41,500 0.0% Prima Meat Packers, Ltd. 77,000 181,472 0.0% Pronexus, Inc. 6,000 39,533 0.0% Proto Corp. 3,200 44,054 0.0% # PS Mitsubishi Construction Co., Ltd. 12,500 54,440 0.0% Psc, Inc. 800 41,762 0.0% # Qol Co., Ltd. 6,300 38,223 0.0% # Raito Kogyo Co., Ltd. 22,900 223,948 0.0% #* Rasa Industries, Ltd. 9,000 10,977 0.0% * Raysum Co., Ltd. 1,400 13,439 0.0% Relo Holdings, Inc. 2,500 176,882 0.0% Renaissance, Inc. 1,200 10,463 0.0% Rengo Co., Ltd. 114,000 501,834 0.1% #* Renown, Inc. 44,300 44,536 0.0% Resona Holdings, Inc. 102,900 588,566 0.1% Resorttrust, Inc. 17,500 421,903 0.1% Rhythm Watch Co., Ltd. 9,000 12,566 0.0% Riberesute Corp. 1,700 10,302 0.0% Ricoh Co., Ltd. 118,900 1,227,922 0.1% Ricoh Leasing Co., Ltd. 9,200 256,681 0.0% # Right On Co., Ltd. 10,300 67,183 0.0% Riken Corp. 43,000 168,619 0.0% Riken Technos Corp. 16,000 70,653 0.0% Riken Vitamin Co., Ltd. 2,400 55,405 0.0% Ringer Hut Co., Ltd. 3,300 50,979 0.0% Rinnai Corp. 700 62,179 0.0% # Rion Co., Ltd. 3,200 41,937 0.0% Riso Kagaku Corp. 6,300 190,508 0.0% #* Riso Kyoiku Co., Ltd. 5,400 11,155 0.0% # Rock Field Co., Ltd. 3,000 51,096 0.0% Rohm Co., Ltd. 300 18,261 0.0% Rohto Pharmaceutical Co., Ltd. 17,000 246,597 0.0% # Rokko Butter Co., Ltd. 2,800 30,528 0.0% Roland DG Corp. 1,700 71,757 0.0% Round One Corp. 39,300 237,095 0.0% Royal Holdings Co., Ltd. 6,300 100,592 0.0% Ryobi, Ltd. 74,000 201,975 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) Ryoden Trading Co., Ltd. 12,000 $ 86,314 0.0% Ryohin Keikaku Co., Ltd. 1,800 243,056 0.0% Ryosan Co., Ltd. 16,100 340,309 0.0% # S Foods, Inc. 4,000 83,622 0.0% S&B Foods, Inc. 200 7,190 0.0% Sac's Bar Holdings, Inc. 2,250 32,429 0.0% Saibu Gas Co., Ltd. 32,000 77,946 0.0% Saizeriya Co., Ltd. 10,300 152,421 0.0% Sakai Chemical Industry Co., Ltd. 43,000 129,543 0.0% Sakai Heavy Industries, Ltd. 18,000 46,464 0.0% # Sakai Moving Service Co., Ltd. 1,700 54,249 0.0% # Sakai Ovex Co., Ltd. 45,000 65,053 0.0% Sakata INX Corp. 16,000 163,727 0.0% Sakata Seed Corp. 15,000 222,460 0.0% Sala Corp. 6,500 35,765 0.0% # SAMTY Co., Ltd. 6,400 42,755 0.0% San-A Co., Ltd. 5,400 182,028 0.0% San-Ai Oil Co., Ltd. 25,000 173,052 0.0% San-In Godo Bank, Ltd. (The) 68,000 523,922 0.1% # Sanden Corp. 39,000 224,922 0.0% Sanei Architecture Planning Co., Ltd. 5,400 43,826 0.0% Sangetsu Co., Ltd. 11,900 301,351 0.0% #* Sanix, Inc. 7,200 33,083 0.0% Sanken Electric Co., Ltd. 42,000 329,868 0.0% Sanki Engineering Co., Ltd. 13,000 90,826 0.0% # Sanko Marketing Foods Co., Ltd. 3,300 26,941 0.0% Sanko Metal Industrial Co., Ltd. 4,000 9,159 0.0% Sankyo Co., Ltd. 5,600 203,790 0.0% Sankyo Seiko Co., Ltd. 4,300 15,984 0.0% Sankyo Tateyama, Inc. 12,400 222,284 0.0% Sankyu, Inc. 106,000 490,066 0.1% Sanoh Industrial Co., Ltd. 8,500 55,302 0.0% # Sanrio Co., Ltd. 3,600 104,085 0.0% Sanshin Electronics Co., Ltd. 14,000 99,144 0.0% Santen Pharmaceutical Co., Ltd. 1,700 101,467 0.0% Sanwa Holdings Corp. 53,000 367,503 0.1% Sanyo Chemical Industries, Ltd. 27,000 168,351 0.0% Sanyo Denki Co., Ltd. 16,000 114,421 0.0% Sanyo Electric Railway Co., Ltd. 10,000 41,305 0.0% Sanyo Shokai, Ltd. 51,372 124,803 0.0% Sanyo Special Steel Co., Ltd. 58,000 199,062 0.0% Sapporo Holdings, Ltd. 146,000 631,861 0.1% Sata Construction Co., Ltd. 17,000 22,498 0.0% Sato Holdings Corp. 7,900 208,074 0.0% Sato Shoji Corp. 4,500 29,268 0.0% Satori Electric Co., Ltd. 2,800 18,187 0.0% # Sawada Holdings Co., Ltd. 11,700 83,549 0.0% Sawai Pharmaceutical Co., Ltd. 2,700 160,858 0.0% Saxa Holdings, Inc. 10,000 14,175 0.0% SBI Holdings, Inc. 66,850 770,883 0.1% SBS Holdings, Inc. 8,400 73,133 0.0% SCREEN Holdings Co., Ltd. 29,000 158,064 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) Scroll Corp. 5,100 $ 11,688 0.0% SCSK Corp. 1,655 44,492 0.0% Secom Co., Ltd. 3,400 209,525 0.0% Secom Joshinetsu Co., Ltd. 200 5,139 0.0% Sega Sammy Holdings, Inc. 9,700 154,089 0.0% Seibu Electric Industry Co., Ltd. 2,000 8,668 0.0% Seika Corp. 18,000 42,970 0.0% # Seikitokyu Kogyo Co., Ltd. 19,600 109,693 0.0% Seiko Epson Corp. 18,150 842,246 0.1% # Seiko Holdings Corp. 73,000 363,798 0.1% Seiko PMC Corp. 200 1,705 0.0% Seino Holdings Co., Ltd. 46,000 360,677 0.0% Seiren Co., Ltd. 19,200 167,665 0.0% Sekisui Chemical Co., Ltd. 28,000 348,974 0.0% Sekisui House, Ltd. 83,540 1,038,810 0.1% Sekisui Jushi Corp. 8,900 121,290 0.0% Sekisui Plastics Co., Ltd. 21,000 56,937 0.0% Senko Co., Ltd. 46,000 195,656 0.0% # Senshu Electric Co., Ltd. 1,400 21,125 0.0% Senshu Ikeda Holdings, Inc. 65,840 340,615 0.0% # Senshukai Co., Ltd. 8,100 65,015 0.0% Seria Co., Ltd. 3,800 159,585 0.0% Seven & I Holdings Co., Ltd. 13,200 515,540 0.1% # Seven Bank, Ltd. 25,000 104,410 0.0% #* Sharp Corp. 179,000 450,804 0.1% # Shibaura Mechatronics Corp. 20,000 64,163 0.0% Shibusawa Warehouse Co., Ltd. (The) 19,000 63,444 0.0% # Shibuya Kogyo Co., Ltd. 4,400 109,763 0.0% Shidax Corp. 4,200 18,742 0.0% Shiga Bank, Ltd. (The) 85,000 476,063 0.1% Shikibo, Ltd. 50,000 54,716 0.0% Shikoku Bank, Ltd. (The) 60,000 127,341 0.0% Shikoku Chemicals Corp. 16,000 110,901 0.0% * Shikoku Electric Power Co., Inc. 6,800 93,315 0.0% # Shima Seiki Manufacturing, Ltd. 9,600 154,660 0.0% # Shimachu Co., Ltd. 16,200 417,089 0.1% Shimadzu Corp. 27,000 234,935 0.0% Shimamura Co., Ltd. 1,700 149,520 0.0% Shimane Bank, Ltd. (The) 1,300 15,981 0.0% Shimano, Inc. 2,500 331,513 0.0% Shimizu Bank, Ltd. (The) 2,200 63,064 0.0% Shimizu Corp. 29,000 214,012 0.0% Shimojima Co., Ltd. 1,600 14,781 0.0% Shin Nippon Air Technologies Co., Ltd. 4,000 32,571 0.0% Shin-Etsu Chemical Co., Ltd. 8,900 571,279 0.1% Shin-Etsu Polymer Co., Ltd. 6,600 30,882 0.0% Shin-Keisei Electric Railway Co., Ltd. 5,000 17,472 0.0% Shinagawa Refractories Co., Ltd. 20,000 49,239 0.0% Shindengen Electric Manufacturing Co., Ltd. 48,000 312,692 0.0% Shinko Electric Industries Co., Ltd. 37,300 216,597 0.0% Shinko Plantech Co., Ltd. 17,200 131,491 0.0% Shinko Shoji Co., Ltd. 8,000 75,851 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) Shinmaywa Industries, Ltd. 43,000 $ 386,186 0.1% Shinnihon Corp. 9,500 33,346 0.0% Shinsei Bank, Ltd. 255,000 573,080 0.1% Shinsho Corp. 20,000 49,613 0.0% Shionogi & Co., Ltd. 17,100 447,366 0.1% Ship Healthcare Holdings, Inc. 8,300 194,271 0.0% Shiroki Corp. 19,000 38,414 0.0% # Shiseido Co., Ltd. 14,100 233,978 0.0% Shizuoka Bank, Ltd. (The) 86,000 888,618 0.1% Shizuoka Gas Co., Ltd. 24,000 157,250 0.0% Shobunsha Publications, Inc. 1,800 12,741 0.0% # Shoei Foods Corp. 2,300 17,958 0.0% Shofu, Inc. 2,400 27,439 0.0% Shoko Co., Ltd. 19,000 28,201 0.0% Showa Aircraft Industry Co., Ltd. 2,822 28,487 0.0% Showa Corp. 22,700 245,556 0.0% Showa Denko K.K. 559,000 739,744 0.1% Showa Sangyo Co., Ltd. 30,000 116,544 0.0% # Showa Shell Sekiyu K.K. 48,600 417,003 0.1% Siix Corp. 6,800 118,089 0.0% Sinanen Co., Ltd. 23,000 90,682 0.0% Sinfonia Technology Co., Ltd. 38,000 54,818 0.0% Sinko Industries, Ltd. 8,300 74,960 0.0% Sintokogio, Ltd. 18,400 127,798 0.0% SKY Perfect JSAT Holdings, Inc. 56,600 347,456 0.0% SMC Corp. 100 28,363 0.0% SMK Corp. 33,000 132,585 0.0% # SMS Co., Ltd. 2,300 66,966 0.0% Sodick Co., Ltd. 16,300 131,792 0.0% Soft99 Corp. 4,000 23,294 0.0% Sogo Medical Co., Ltd. 2,300 109,824 0.0% Sohgo Security Services Co., Ltd. 15,100 353,122 0.0% Sojitz Corp. 348,800 519,930 0.1% Sompo Japan Nipponkoa Holdings, Inc. 21,550 542,642 0.1% Sony Corp. 70,500 1,391,904 0.1% Sony Corp. Sponsored ADR 17,008 337,099 0.0% Sony Financial Holdings, Inc. 5,300 84,613 0.0% Sotetsu Holdings, Inc. 22,000 82,652 0.0% Sotoh Co., Ltd. 1,500 12,767 0.0% # Sparx Group Co., Ltd. 12,600 25,408 0.0% SPK Corp. 1,082 18,805 0.0% Square Enix Holdings Co., Ltd. 3,500 72,031 0.0% # Srg Takamiya Co., Ltd. 3,500 47,364 0.0% ST Corp. 2,200 19,892 0.0% St Marc Holdings Co., Ltd. 3,400 177,757 0.0% Stanley Electric Co., Ltd. 9,100 185,008 0.0% Star Micronics Co., Ltd. 9,000 136,860 0.0% Starbucks Coffee Japan, Ltd. 10,400 135,940 0.0% Start Today Co., Ltd. 3,100 67,075 0.0% # Starts Corp., Inc. 7,500 111,992 0.0% Starzen Co., Ltd. 18,000 52,328 0.0% Stella Chemifa Corp. 5,100 63,661 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) # Studio Alice Co., Ltd. 4,700 $ 60,870 0.0% Sugi Holdings Co., Ltd. 1,600 69,877 0.0% # Sumco Corp. 13,300 178,873 0.0% Sumida Corp. 12,100 85,806 0.0% Suminoe Textile Co., Ltd. 4,000 10,953 0.0% Sumitomo Bakelite Co., Ltd. 65,000 255,803 0.0% Sumitomo Chemical Co., Ltd. 316,000 1,084,018 0.1% Sumitomo Corp. 51,500 549,490 0.1% # Sumitomo Dainippon Pharma Co., Ltd. 7,600 89,649 0.0% Sumitomo Densetsu Co., Ltd. 7,100 87,792 0.0% Sumitomo Electric Industries, Ltd. 52,300 714,867 0.1% Sumitomo Forestry Co., Ltd. 45,300 476,012 0.1% Sumitomo Heavy Industries, Ltd. 156,000 855,259 0.1% Sumitomo Metal Mining Co., Ltd. 46,000 638,136 0.1% #* Sumitomo Mitsui Construction Co., Ltd. 161,800 193,605 0.0% Sumitomo Mitsui Financial Group, Inc. 73,541 2,999,216 0.3% Sumitomo Mitsui Trust Holdings, Inc. 121,000 494,009 0.1% Sumitomo Osaka Cement Co., Ltd. 196,000 612,698 0.1% Sumitomo Precision Products Co., Ltd. 10,000 38,935 0.0% Sumitomo Real Estate Sales Co., Ltd. 2,080 47,898 0.0% Sumitomo Riko Co., Ltd. 19,000 163,294 0.0% Sumitomo Rubber Industries, Ltd. 15,200 210,080 0.0% Sumitomo Seika Chemicals Co., Ltd. 22,000 134,962 0.0% Sumitomo Warehouse Co., Ltd. (The) 70,000 383,895 0.1% # Sun Frontier Fudousan Co., Ltd. 4,000 43,902 0.0% Sun-Wa Technos Corp. 6,200 63,785 0.0% Sundrug Co., Ltd. 1,600 77,292 0.0% Suruga Bank, Ltd. 13,000 271,783 0.0% Suzuken Co., Ltd. 18,100 485,276 0.1% Suzuki Motor Corp. 12,400 415,629 0.1% #* SWCC Showa Holdings Co., Ltd. 134,000 124,130 0.0% Sysmex Corp. 4,600 196,375 0.0% Systena Corp. 5,500 41,517 0.0% T Hasegawa Co., Ltd. 7,300 112,112 0.0% T RAD Co., Ltd. 36,000 84,753 0.0% T&D Holdings, Inc. 88,700 1,142,587 0.1% # T&K Toka Co., Ltd. 4,200 93,869 0.0% # T-Gaia Corp. 4,100 40,991 0.0% # Tabuchi Electric Co., Ltd. 8,000 70,220 0.0% # Tachi-S Co., Ltd. 9,000 114,118 0.0% Tadano, Ltd. 19,000 284,019 0.0% Taiheiyo Cement Corp. 67,000 245,820 0.0% Taiho Kogyo Co., Ltd. 7,600 77,756 0.0% # Taikisha, Ltd. 8,400 186,669 0.0% Taiko Bank, Ltd. (The) 5,000 10,155 0.0% Taiko Pharmaceutical Co., Ltd. 6,100 110,137 0.0% Taisei Corp. 34,000 189,072 0.0% Taiyo Holdings Co., Ltd. 3,500 114,060 0.0% # Taiyo Nippon Sanso Corp. 42,000 378,129 0.1% Taiyo Yuden Co., Ltd. 45,400 466,693 0.1% Takagi Securities Co., Ltd. 39,000 90,334 0.0% Takamatsu Construction Group Co., Ltd. 1,600 30,692 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) # Takaoka Toko Co., Ltd. 3,664 $ 53,101 0.0% # Takara Holdings, Inc. 22,000 175,142 0.0% Takara Leben Co., Ltd. 38,200 161,871 0.0% Takara Standard Co., Ltd. 44,000 359,323 0.0% Takasago International Corp. 32,000 153,141 0.0% Takasago Thermal Engineering Co., Ltd. 24,800 320,073 0.0% # Takashima & Co., Ltd. 26,000 54,524 0.0% Takashimaya Co., Ltd. 81,000 690,005 0.1% # Takata Corp. 12,400 162,043 0.0% Take And Give Needs Co., Ltd. 4,270 44,982 0.0% Takeda Pharmaceutical Co., Ltd. 9,800 424,814 0.1% # Takeei Corp. 8,500 80,532 0.0% Takeuchi Manufacturing Co., Ltd. 4,800 201,765 0.0% Takihyo Co., Ltd. 8,000 29,517 0.0% Takiron Co., Ltd. 12,000 59,512 0.0% # Takisawa Machine Tool Co., Ltd. 23,000 45,096 0.0% # Takuma Co., Ltd. 32,000 204,307 0.0% # Tama Home Co., Ltd. 7,300 39,770 0.0% # Tamron Co., Ltd. 6,700 132,625 0.0% Tamura Corp. 20,000 75,385 0.0% Tanseisha Co., Ltd. 9,100 83,562 0.0% # Tatsuta Electric Wire and Cable Co., Ltd. 13,000 65,735 0.0% Tayca Corp. 12,000 47,732 0.0% TBK Co., Ltd. 9,000 54,707 0.0% TDK Corp. 21,900 1,243,090 0.1% #* Teac Corp. 23,000 11,893 0.0% Teijin, Ltd. 362,000 885,018 0.1% # Teikoku Electric Manufacturing Co., Ltd. 5,200 58,798 0.0% Teikoku Tsushin Kogyo Co., Ltd. 9,000 14,342 0.0% Terumo Corp. 9,300 232,487 0.0% THK Co., Ltd. 11,900 299,319 0.0% Toa Corp.(6894434) 5,000 50,309 0.0% Toa Corp.(6894508) 55,000 101,105 0.0% Toa Oil Co., Ltd. 44,000 62,276 0.0% TOA ROAD Corp. 13,000 47,226 0.0% # Toabo Corp. 38,000 25,746 0.0% Toagosei Co., Ltd. 102,000 445,784 0.1% #* Tobishima Corp. 19,900 54,453 0.0% # Tobu Store Co., Ltd. 1,000 2,566 0.0% TOC Co., Ltd. 19,300 140,815 0.0% Tocalo Co., Ltd. 8,100 152,797 0.0% Tochigi Bank, Ltd. (The) 31,000 126,011 0.0% Toda Corp. 66,000 291,849 0.0% * Toda Kogyo Corp. 9,000 33,017 0.0% Toei Animation Co., Ltd. 900 23,299 0.0% Toei Co., Ltd. 31,000 163,572 0.0% Toenec Corp. 13,000 69,198 0.0% Toho Bank, Ltd. (The) 56,000 205,962 0.0% Toho Co., Ltd.(6895200) 2,800 64,225 0.0% Toho Co., Ltd.(6895211) 15,000 56,717 0.0% Toho Gas Co., Ltd. 20,000 108,169 0.0% Toho Holdings Co., Ltd. 19,900 260,339 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) #* Toho Titanium Co., Ltd. 13,400 $ 85,607 0.0% Toho Zinc Co., Ltd. 62,000 212,341 0.0% Tohoku Bank, Ltd. (The) 23,000 32,290 0.0% Tohto Suisan Co., Ltd. 16,000 27,873 0.0% Tokai Carbon Co., Ltd. 101,000 263,464 0.0% Tokai Corp/Gifu 2,400 72,212 0.0% TOKAI Holdings Corp. 24,100 117,398 0.0% Tokai Lease Co., Ltd. 5,000 8,920 0.0% Tokai Rika Co., Ltd. 25,900 493,299 0.1% # Token Corp. 3,320 150,324 0.0% Tokio Marine Holdings, Inc. 25,216 808,630 0.1% Toko, Inc. 9,000 23,970 0.0% Tokushu Tokai Paper Co., Ltd. 25,000 58,224 0.0% # Tokuyama Corp. 117,000 342,003 0.0% Tokyo Dome Corp. 79,000 336,555 0.0% Tokyo Electron, Ltd. 6,300 403,922 0.1% Tokyo Energy & Systems, Inc. 7,000 49,261 0.0% Tokyo Keiki, Inc. 33,000 81,905 0.0% * Tokyo Kikai Seisakusho, Ltd. 20,000 14,464 0.0% # Tokyo Rakutenchi Co., Ltd. 7,000 31,598 0.0% #* Tokyo Rope Manufacturing Co., Ltd. 50,000 77,723 0.0% Tokyo Seimitsu Co., Ltd. 11,300 183,879 0.0% # Tokyo Steel Manufacturing Co., Ltd. 44,000 236,033 0.0% Tokyo Tatemono Co., Ltd. 15,000 130,940 0.0% Tokyo Tekko Co., Ltd. 15,000 68,957 0.0% Tokyo Theatres Co., Inc. 43,000 57,043 0.0% #* Tokyo TY Financial Group, Inc. 8,687 278,030 0.0% # Tokyu Construction Co., Ltd. 34,930 170,220 0.0% Tokyu Corp. 1,000 6,603 0.0% Tokyu Fudosan Holdings Corp. 54,082 384,377 0.1% Tokyu Recreation Co., Ltd. 3,853 22,840 0.0% Toli Corp. 9,000 19,345 0.0% Tomato Bank, Ltd. 22,000 35,795 0.0% # Tomen Electronics Corp. 2,900 42,775 0.0% Tomoe Corp. 12,000 46,682 0.0% Tomoe Engineering Co., Ltd. 2,200 34,641 0.0% Tomoku Co., Ltd. 22,000 57,216 0.0% TOMONY Holdings, Inc. 50,300 224,398 0.0% # Tomy Co., Ltd. 32,400 167,604 0.0% Tonami Holdings Co., Ltd. 11,000 23,473 0.0% Topcon Corp. 3,000 70,440 0.0% Toppan Forms Co., Ltd. 28,000 264,080 0.0% Toppan Printing Co., Ltd. 86,000 585,164 0.1% Topre Corp. 19,800 280,375 0.0% Topy Industries, Ltd. 45,000 87,002 0.0% Toray Industries, Inc. 60,000 402,806 0.1% # Toridoll.corp 3,900 44,626 0.0% Torigoe Co., Ltd. (The) 300 2,082 0.0% # Torishima Pump Manufacturing Co., Ltd. 7,800 59,143 0.0% # Tosei Corp. 17,500 117,946 0.0% Toshiba Corp. 70,000 309,128 0.0% Toshiba Machine Co., Ltd. 40,000 158,958 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) Toshiba Plant Systems & Services Corp. 8,000 $ 133,906 0.0% Toshiba TEC Corp. 43,000 303,443 0.0% # Tosho Co., Ltd. 1,800 38,192 0.0% # Tosho Printing Co., Ltd. 11,000 36,897 0.0% Tosoh Corp. 144,000 626,195 0.1% # Totetsu Kogyo Co., Ltd. 6,270 142,034 0.0% TOTO, Ltd. 15,000 169,258 0.0% Tottori Bank, Ltd. (The) 8,000 15,784 0.0% Towa Bank, Ltd. (The) 109,000 97,522 0.0% Towa Corp. 7,700 44,455 0.0% # Towa Pharmaceutical Co., Ltd. 3,300 145,696 0.0% Toyo Construction Co., Ltd. 29,900 140,833 0.0% Toyo Denki Seizo - Toyo Electric Manufacturing Co., Ltd. 18,000 64,798 0.0% Toyo Engineering Corp. 36,000 184,378 0.0% Toyo Ink SC Holdings Co., Ltd. 100,000 461,248 0.1% # Toyo Kanetsu K.K. 55,000 128,643 0.0% Toyo Kohan Co., Ltd. 29,000 167,411 0.0% Toyo Machinery & Metal Co., Ltd. 7,900 31,539 0.0% Toyo Securities Co., Ltd. 40,000 113,950 0.0% Toyo Seikan Group Holdings, Ltd. 28,600 346,823 0.0% Toyo Sugar Refining Co., Ltd. 8,000 7,242 0.0% Toyo Suisan Kaisha, Ltd. 7,000 241,754 0.0% Toyo Tanso Co., Ltd. 5,500 101,862 0.0% Toyo Tire & Rubber Co., Ltd. 27,500 453,646 0.1% Toyo Wharf & Warehouse Co., Ltd. 37,000 70,755 0.0% Toyobo Co., Ltd. 387,000 557,044 0.1% Toyoda Gosei Co., Ltd. 30,300 582,117 0.1% # Toyota Boshoku Corp. 15,100 171,485 0.0% Toyota Motor Corp. 32,480 1,954,555 0.2% Toyota Motor Corp. Sponsored ADR 20,242 2,456,367 0.2% Toyota Tsusho Corp. 35,800 902,700 0.1% TPR Co., Ltd. 9,900 234,687 0.0% Trancom Co., Ltd. 2,000 83,579 0.0% Transcosmos, Inc. 3,900 72,930 0.0% Trend Micro, Inc. 4,200 141,521 0.0% Trusco Nakayama Corp. 9,200 246,741 0.0% TS Tech Co., Ltd. 17,700 435,041 0.1% TSI Holdings Co., Ltd. 17,105 108,742 0.0% Tsubakimoto Chain Co. 52,000 410,190 0.1% Tsubakimoto Kogyo Co., Ltd. 2,000 5,445 0.0% #* Tsudakoma Corp. 40,000 53,795 0.0% # Tsugami Corp. 28,000 143,781 0.0% # Tsukada Global Holdings, Inc. 4,800 39,055 0.0% Tsukamoto Corp. Co., Ltd. 3,000 3,567 0.0% Tsukishima Kikai Co., Ltd. 9,200 103,264 0.0% Tsukuba Bank, Ltd. 41,600 142,572 0.0% Tsukui Corp. 6,500 62,842 0.0% # Tsumura & Co. 12,200 272,985 0.0% Tsuruha Holdings, Inc. 2,600 153,506 0.0% Tsurumi Manufacturing Co., Ltd. 4,000 66,276 0.0% Tyo, Inc. 21,600 34,292 0.0% # UACJ Corp. 93,067 342,870 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) Ube Industries, Ltd. 400,200 $ 619,635 0.1% Uchida Yoko Co., Ltd. 31,000 99,255 0.0% Ueki Corp. 3,000 7,261 0.0% UKC Holdings Corp. 4,500 73,219 0.0% #* Ulvac, Inc. 21,300 265,239 0.0% Uniden Corp. 13,000 26,858 0.0% Union Tool Co. 4,700 121,250 0.0% Unipres Corp. 19,400 386,057 0.1% United Arrows, Ltd. 4,500 168,638 0.0% * Unitika, Ltd. 222,000 98,404 0.0% # Universal Entertainment Corp. 6,900 109,250 0.0% UNY Group Holdings Co., Ltd. 117,800 624,509 0.1% #* Usen Corp. 28,780 90,448 0.0% Ushio, Inc. 30,400 319,040 0.0% USS Co., Ltd. 4,000 62,952 0.0% UT Holdings Co., Ltd. 10,900 51,582 0.0% Valor Co., Ltd. 15,500 251,248 0.0% # Village Vanguard Co., Ltd. 1,800 23,481 0.0% Vital KSK Holdings, Inc. 13,800 117,693 0.0% Vitec Co., Ltd. 2,400 16,222 0.0% # VT Holdings Co., Ltd. 26,100 103,075 0.0% Wacoal Holdings Corp. 40,000 416,549 0.1% # Wacom Co., Ltd. 41,000 157,308 0.0% Wakachiku Construction Co., Ltd. 34,000 68,772 0.0% Wakita & Co., Ltd. 16,000 159,881 0.0% Warabeya Nichiyo Co., Ltd. 5,100 89,431 0.0% * Watabe Wedding Corp. 1,400 7,063 0.0% # WATAMI Co., Ltd. 8,100 94,703 0.0% Weathernews, Inc. 1,700 46,457 0.0% # Welcia Holdings Co., Ltd. 5,400 180,399 0.0% # West Holdings Corp. 3,000 27,924 0.0% Wood One Co., Ltd. 6,000 15,400 0.0% Wowow, Inc. 2,200 94,123 0.0% Xebio Co., Ltd. 14,200 222,216 0.0% Yahagi Construction Co., Ltd. 10,900 82,521 0.0% Yaizu Suisankagaku Industry Co., Ltd. 100 890 0.0% # Yakult Honsha Co., Ltd. 1,700 94,145 0.0% YAMABIKO Corp. 2,600 102,983 0.0% # Yamada Denki Co., Ltd. 210,600 675,104 0.1% Yamagata Bank, Ltd. (The) 64,000 303,051 0.0% Yamaguchi Financial Group, Inc. 61,000 582,605 0.1% Yamaha Corp. 26,500 363,234 0.1% Yamaha Motor Co., Ltd. 16,700 315,926 0.0% # Yamaichi Electronics Co., Ltd. 6,700 51,829 0.0% Yamanashi Chuo Bank, Ltd. (The) 50,000 226,154 0.0% Yamatane Corp. 52,000 80,300 0.0% Yamato Holdings Co., Ltd. 9,500 203,131 0.0% Yamato Kogyo Co., Ltd. 11,100 359,584 0.0% # Yamaya Corp. 2,000 28,670 0.0% Yamazaki Baking Co., Ltd. 33,000 407,966 0.1% Yamazen Corp. 14,100 109,800 0.0% Yaoko Co., Ltd. 1,900 116,719 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- JAPAN -- (Continued) Yashima Denki Co., Ltd. 2,000 $ 9,742 0.0% # Yaskawa Electric Corp. 11,700 151,658 0.0% Yasuda Logistics Corp. 8,900 80,018 0.0% Yellow Hat, Ltd. 6,700 143,416 0.0% Yokogawa Bridge Holdings Corp. 13,000 167,131 0.0% Yokogawa Electric Corp. 16,000 222,607 0.0% # Yokohama Reito Co., Ltd. 21,400 158,675 0.0% Yokohama Rubber Co., Ltd. (The) 53,000 481,110 0.1% Yokowo Co., Ltd. 5,100 26,686 0.0% # Yomiuri Land Co., Ltd. 25,000 110,592 0.0% Yondenko Corp. 8,000 29,012 0.0% Yondoshi Holdings, Inc. 8,800 158,487 0.0% # Yonex Co., Ltd. 3,600 32,051 0.0% Yorozu Corp. 7,900 135,939 0.0% Yuasa Trading Co., Ltd. 4,500 84,883 0.0% Yuken Kogyo Co., Ltd. 7,000 15,526 0.0% # Yumeshin Holdings Co., Ltd. 3,200 22,697 0.0% Yurtec Corp. 21,000 116,779 0.0% Yusen Logistics Co., Ltd. 9,200 92,794 0.0% Yushiro Chemical Industry Co., Ltd. 3,800 47,885 0.0% Yutaka Giken Co., Ltd. 600 12,949 0.0% Zappallas, Inc. 5,000 27,020 0.0% # Zenrin Co., Ltd. 11,600 142,603 0.0% # Zensho Holdings Co., Ltd. 23,700 215,133 0.0% Zeon Corp. 41,000 379,509 0.1% ZERIA Pharmaceutical Co., Ltd. 6,000 120,418 0.0% # Zuiko Corp. 800 38,360 0.0% ----------------- --------------- TOTAL JAPAN 284,112,541 21.7% ----------------- --------------- NETHERLANDS -- (2.2%) Aalberts Industries NV 39,535 1,053,835 0.1% Accell Group 7,955 126,918 0.0% Aegon NV(007924103) 8,052 65,785 0.0% Aegon NV(5927375) 267,671 2,181,639 0.2% * AFC Ajax NV 70 811 0.0% # Akzo Nobel NV 21,497 1,433,560 0.1% * AMG Advanced Metallurgical Group NV 16,899 139,557 0.0% Amsterdam Commodities NV 6,034 135,600 0.0% #* APERAM 17,433 501,581 0.0% Arcadis NV 16,661 512,546 0.0% # ArcelorMittal 133,251 1,753,583 0.1% ASM International NV 15,597 625,014 0.1% ASML Holding NV 8,314 828,707 0.1% * Ballast Nedam NV 796 2,517 0.0% BE Semiconductor Industries NV 16,216 308,871 0.0% Beter Bed Holding NV 1,203 24,767 0.0% BinckBank NV 25,225 249,997 0.0% Brunel International NV 7,374 165,746 0.0% Corbion NV 25,233 407,949 0.0% Delta Lloyd NV 84,619 1,928,741 0.2% Exact Holding NV 2,960 116,583 0.0% # Fugro NV 16,155 222,747 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- NETHERLANDS -- (Continued) #* Galapagos NV 5,716 $ 79,610 0.0% # Gemalto NV 6,446 493,033 0.0% * Grontmij 30,380 140,022 0.0% Heijmans NV 11,669 158,838 0.0% Heineken NV 3,944 294,633 0.0% Hunter Douglas NV 297 12,310 0.0% * ING Groep NV 109,712 1,571,115 0.1% #* ING Groep NV Sponsored ADR 61,975 887,482 0.1% KAS Bank NV 6,993 84,569 0.0% Kendrion NV 6,206 173,260 0.0% Koninklijke Ahold NV 78,576 1,316,039 0.1% # Koninklijke BAM Groep NV 99,953 239,695 0.0% Koninklijke Boskalis Westminster NV 14,384 767,391 0.1% Koninklijke DSM NV 19,433 1,217,632 0.1% Koninklijke KPN NV 288,460 949,533 0.1% Koninklijke Philips NV(5986622) 28,754 803,901 0.1% Koninklijke Philips NV(500472303) 45,049 1,258,669 0.1% # Koninklijke Ten Cate NV 12,011 270,899 0.0% Koninklijke Vopak NV 6,178 309,823 0.0% Koninklijke Wessanen NV 34,146 218,343 0.0% * Macintosh Retail Group NV 5,853 36,079 0.0% Nutreco NV 21,370 1,070,367 0.1% #* Ordina NV 41,768 68,542 0.0% * PostNL NV 97,636 414,985 0.0% Randstad Holding NV 14,516 640,755 0.1% Reed Elsevier NV 29,425 677,812 0.1% Reed Elsevier NV Sponsored ADR 1,500 69,015 0.0% #* Royal Imtech NV 17,912 98,150 0.0% #* SBM Offshore NV 52,547 657,729 0.1% Sligro Food Group NV 8,519 314,527 0.0% # SNS Reaal NV 28,066 -- 0.0% * Telegraaf Media Groep NV 7,861 61,287 0.0% TKH Group NV 15,922 482,418 0.0% TNT Express NV 136,232 791,849 0.1% * TomTom NV 74,157 538,697 0.1% USG People NV 27,256 273,426 0.0% Van Lanschot NV 664 14,867 0.0% Wolters Kluwer NV 45,922 1,226,057 0.1% Ziggo NV 10,214 499,139 0.0% ----------------- --------------- TOTAL NETHERLANDS 31,969,552 2.4% ----------------- --------------- NEW ZEALAND -- (0.4%) * a2 Milk Co., Ltd. 20,758 9,501 0.0% Air New Zealand, Ltd. 232,153 367,517 0.0% # Auckland International Airport, Ltd. 191,188 577,995 0.1% * Bathurst Resources, Ltd. 123,841 3,382 0.0% Chorus, Ltd. 79,615 132,076 0.0% * Chorus, Ltd. ADR 462 3,791 0.0% Contact Energy, Ltd. 114,082 553,435 0.1% # Ebos Group, Ltd. 14,860 111,455 0.0% Fisher & Paykel Healthcare Corp., Ltd. 112,595 492,041 0.1% Fletcher Building, Ltd.(6341606) 44,580 300,688 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- NEW ZEALAND -- (Continued) # Fletcher Building, Ltd.(6341617) 3,803 $ 25,815 0.0% Freightways, Ltd. 33,667 150,349 0.0% Hallenstein Glasson Holdings, Ltd. 1,417 3,637 0.0% Heartland New Zealand, Ltd. 106,802 83,551 0.0% Infratil, Ltd. 71,133 159,891 0.0% Kathmandu Holdings, Ltd. 26,036 64,429 0.0% Mainfreight, Ltd. 23,010 285,833 0.0% # Metlifecare, Ltd. 29,032 97,891 0.0% New Zealand Oil & Gas, Ltd. 66,437 38,300 0.0% New Zealand Refining Co., Ltd. (The) 14,184 18,787 0.0% Nuplex Industries, Ltd. 52,978 130,710 0.0% NZX, Ltd. 45,203 42,072 0.0% PGG Wrightson, Ltd. 41,016 14,616 0.0% Pike River Coal, Ltd. 12,312 -- 0.0% Port of Tauranga, Ltd. 13,291 169,868 0.0% Restaurant Brands New Zealand, Ltd. 16,668 47,701 0.0% Ryman Healthcare, Ltd. 41,080 243,220 0.0% # Skellerup Holdings, Ltd. 21,549 24,457 0.0% Sky Network Television, Ltd. 92,356 458,577 0.0% # SKYCITY Entertainment Group, Ltd. 153,210 468,424 0.1% Spark New Zealand, Ltd. 191,449 472,458 0.1% Summerset Group Holdings, Ltd. 11,423 24,354 0.0% Tower, Ltd. 35,470 54,656 0.0% # Trade Me Group, Ltd. 69,247 212,652 0.0% # TrustPower, Ltd. 8,621 50,449 0.0% Vector, Ltd. 27,832 59,488 0.0% Warehouse Group, Ltd. (The) 31,440 76,156 0.0% * Xero, Ltd. 5,512 68,369 0.0% ----------------- --------------- TOTAL NEW ZEALAND 6,098,591 0.5% ----------------- --------------- NORWAY -- (0.9%) # ABG Sundal Collier Holding ASA 78,760 57,803 0.0% # Akastor ASA 11,359 39,125 0.0% Aker ASA Class A 4,406 107,472 0.0% * Aker Solutions ASA 11,359 73,594 0.0% American Shipping ASA 10,283 67,106 0.0% * Archer, Ltd. 144,921 139,674 0.0% # Atea ASA 20,732 226,673 0.0% Austevoll Seafood ASA 45,023 292,779 0.0% Bakkafrost P/F 8,668 211,942 0.0% Bonheur ASA 2,527 31,636 0.0% BW Offshore, Ltd. 193,828 237,969 0.0% Deep Sea Supply P.L.C. 74,823 84,733 0.0% * Det Norske Oljeselskap ASA 14,149 91,580 0.0% DNB ASA 40,630 746,465 0.1% * DNO ASA 82,820 200,653 0.0% * DOF ASA 11,186 32,620 0.0% * Dolphin Group A.S. 69,552 29,811 0.0% Ekornes ASA 3,570 38,109 0.0% * Electromagnetic GeoServices 24,789 13,212 0.0% Eltek ASA 60,839 88,326 0.0% Evry ASA 20,232 51,019 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- NORWAY -- (Continued) Farstad Shipping ASA 4,288 $ 49,459 0.0% Fred Olsen Energy ASA 2,543 27,137 0.0% #* Frontline, Ltd. 10,435 14,752 0.0% Ganger Rolf ASA 2,279 28,548 0.0% # Gjensidige Forsikring ASA 7,127 129,459 0.0% Golar LNG, Ltd. 3,400 190,774 0.0% # Golden Ocean Group, Ltd. 119,371 145,286 0.0% * Grieg Seafood ASA 7,041 29,997 0.0% # Hexagon Composites ASA 16,342 68,005 0.0% * Hoegh LNG Holdings, Ltd. 6,093 78,593 0.0% * Hurtigruten ASA 75,887 77,184 0.0% * Kongsberg Automotive ASA 217,847 208,449 0.0% Kongsberg Gruppen A.S. 2,267 45,876 0.0% # Kvaerner ASA 73,288 96,614 0.0% Leroey Seafood Group ASA 6,817 257,883 0.0% Marine Harvest ASA 30,024 425,220 0.1% #* Nordic Semiconductor ASA 16,465 92,756 0.0% Norsk Hydro ASA 170,838 956,508 0.1% #* Norske Skogindustrier ASA 103,385 55,109 0.0% Northern Offshore, Ltd. 31,223 38,886 0.0% #* Norwegian Air Shuttle ASA 5,505 177,746 0.0% #* Norwegian Energy Co. ASA 4,053 1,858 0.0% * Odfjell SE Class A 5,645 22,114 0.0% Opera Software ASA 14,495 181,521 0.0% Orkla ASA 50,392 385,299 0.1% * Panoro Energy ASA 147,239 56,345 0.0% # Petroleum Geo-Services ASA 81,234 403,474 0.1% Prosafe SE 66,258 303,134 0.0% * Q-Free ASA 3,734 6,623 0.0% #* REC Silicon ASA 701,536 280,471 0.0% * REC Solar ASA 13,235 176,970 0.0% Salmar ASA 11,015 198,452 0.0% Schibsted ASA 1,854 98,060 0.0% # Seadrill, Ltd. 10,464 240,672 0.0% * Sevan Drilling A.S. 134,138 19,245 0.0% Sevan Marine ASA 11,522 37,626 0.0% Siem Offshore, Inc. 39,709 30,780 0.0% Solstad Offshore ASA 2,300 27,971 0.0% * Songa Offshore 137,830 47,570 0.0% SpareBank 1 SMN 24,245 215,592 0.0% SpareBank 1 SR Bank ASA 45,336 389,987 0.1% Statoil ASA 34,435 788,060 0.1% Statoil ASA Sponsored ADR 12,080 277,236 0.0% Stolt-Nielsen, Ltd. 8,145 146,756 0.0% * Storebrand ASA 118,197 606,044 0.1% Subsea 7 SA 38,053 409,503 0.1% Telenor ASA 8,010 180,118 0.0% # TGS Nopec Geophysical Co. ASA 3,963 92,448 0.0% Tomra Systems ASA 31,494 235,930 0.0% * TTS Group ASA 6,609 3,780 0.0% Veidekke ASA 17,699 171,902 0.0% Wilh Wilhelmsen ASA 9,956 72,480 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- NORWAY -- (Continued) Wilh Wilhelmsen Holding ASA Class A 4,583 $ 122,103 0.0% Yara International ASA 6,974 320,255 0.1% ----------------- --------------- TOTAL NORWAY 12,606,921 1.0% ----------------- --------------- PORTUGAL -- (0.3%) Altri SGPS SA 51,633 144,368 0.0% #* Banco BPI SA 148,057 289,999 0.0% #* Banco Comercial Portugues SA 12,555,676 1,419,126 0.1% * Banco Espirito Santo SA 712,067 -- 0.0% EDP Renovaveis SA 77,207 501,972 0.1% Galp Energia SGPS SA 21,463 311,181 0.0% Jeronimo Martins SGPS SA 12,685 111,014 0.0% Mota-Engil SGPS SA 28,124 147,577 0.0% NOS SGPS 46,514 266,857 0.0% Portucel SA 69,421 258,373 0.0% # Portugal Telecom SGPS SA 122,225 200,193 0.0% REN - Redes Energeticas Nacionais SGPS SA 32,255 99,980 0.0% Semapa-Sociedade de Investimento e Gestao 28,295 342,391 0.1% * Sonae Capital SGPS SA 41,822 15,181 0.0% * Sonae Industria SGPS SA 12,295 2,768 0.0% Sonae SGPS SA 445,599 597,653 0.1% Teixeira Duarte SA 31,098 30,706 0.0% ----------------- --------------- TOTAL PORTUGAL 4,739,339 0.4% ----------------- --------------- RUSSIA -- (0.0%) * Exillon Energy P.L.C. 17,069 41,460 0.0% ----------------- --------------- SINGAPORE -- (1.3%) * Abterra, Ltd. 40,000 23,342 0.0% Amara Holdings, Ltd. 90,000 36,502 0.0% Amtek Engineering, Ltd. 16,000 7,532 0.0% ASL Marine Holdings, Ltd. 74,200 34,444 0.0% #* Ausgroup, Ltd. 171,061 47,063 0.0% Banyan Tree Holdings, Ltd. 84,000 40,532 0.0% * Biosensors International Group, Ltd. 581,000 282,571 0.1% Bonvests Holdings, Ltd. 30,000 32,042 0.0% Boustead Singapore, Ltd. 75,000 107,298 0.0% # Breadtalk Group, Ltd. 64,000 65,556 0.0% Bukit Sembawang Estates, Ltd. 29,000 119,887 0.0% Bund Center Investment, Ltd. 88,000 13,574 0.0% CapitaLand, Ltd. 389,101 960,658 0.1% # Centurion Corp., Ltd. 104,000 43,712 0.0% CH Offshore, Ltd. 94,000 35,340 0.0% China Aviation Oil Singapore Corp., Ltd. 64,800 37,339 0.0% Chip Eng Seng Corp., Ltd. 245,000 167,763 0.0% City Developments, Ltd. 30,000 220,798 0.0% Cityspring Infrastructure Trust 84,000 33,382 0.0% ComfortDelGro Corp., Ltd. 91,000 187,096 0.0% Cosco Corp. Singapore, Ltd. 488,000 226,221 0.0% CSE Global, Ltd. 336,000 176,530 0.0% CWT, Ltd. 72,000 90,562 0.0% DBS Group Holdings, Ltd. 80,433 1,157,062 0.1% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- SINGAPORE -- (Continued) #* Del Monte Pacific, Ltd. 120,000 $ 51,393 0.0% * Delong Holdings, Ltd. 33,000 5,254 0.0% # Dyna-Mac Holdings, Ltd. 230,000 69,035 0.0% Elec & Eltek International Co., Ltd. 14,000 20,223 0.0% Eu Yan Sang International, Ltd. 20,000 11,755 0.0% # Ezion Holdings, Ltd. 192,880 227,134 0.0% # Ezra Holdings, Ltd. 394,000 250,355 0.0% Falcon Energy Group, Ltd. 203,000 47,448 0.0% Far East Orchard, Ltd. 55,984 75,630 0.0% First Resources, Ltd. 84,000 136,087 0.0% FJ Benjamin Holdings, Ltd. 75,000 10,126 0.0% * Forterra Trust 8,000 9,962 0.0% Fragrance Group, Ltd. 222,000 37,112 0.0% #* Gallant Venture, Ltd. 51,000 9,724 0.0% # Genting Hong Kong, Ltd. 400,000 146,431 0.0% # Genting Singapore P.L.C. 86,000 73,656 0.0% #* Geo Energy Resources, Ltd. 196,000 35,870 0.0% Global Premium Hotels, Ltd. 9,279 2,525 0.0% GMG Global, Ltd. 1,285,000 62,185 0.0% Golden Agri-Resources, Ltd. 1,156,000 468,470 0.1% Great Eastern Holdings, Ltd. 3,000 56,038 0.0% # GuocoLand, Ltd. 65,333 97,016 0.0% GuocoLeisure, Ltd. 109,000 78,126 0.0% #* Healthway Medical Corp., Ltd. 184,125 6,730 0.0% HG Metal Manufacturing, Ltd. 123,000 6,973 0.0% Hi-P International, Ltd. 76,000 38,465 0.0% Hiap Hoe, Ltd. 39,000 25,036 0.0% Ho Bee Land, Ltd. 59,000 91,544 0.0% Hong Fok Corp., Ltd. 144,800 100,327 0.0% Hong Leong Asia, Ltd. 49,000 52,596 0.0% Hotel Grand Central, Ltd. 6,335 6,510 0.0% Hour Glass, Ltd. (The) 36,000 51,781 0.0% HTL International Holdings, Ltd. 41,000 8,683 0.0% Hutchison Port Holdings Trust 570,000 384,869 0.1% Hwa Hong Corp., Ltd. 21,000 5,320 0.0% # Hyflux, Ltd. 149,500 117,630 0.0% Indofood Agri Resources, Ltd. 226,000 147,044 0.0% InnoTek, Ltd. 37,000 7,932 0.0% * Interra Resources, Ltd. 125,000 20,911 0.0% IPC Corp., Ltd. 238,000 27,283 0.0% # ISDN Holdings, Ltd. 38,000 9,337 0.0% Jardine Cycle & Carriage, Ltd. 4,000 124,338 0.0% * Jiutian Chemical Group, Ltd. 980,000 42,485 0.0% k1 Ventures, Ltd. 393,000 62,747 0.0% Keppel Corp., Ltd. 25,000 183,330 0.0% Keppel Land, Ltd. 221,390 576,082 0.1% Koh Brothers Group, Ltd. 175,000 42,272 0.0% # KSH Holdings, Ltd. 51,000 21,047 0.0% LCD Global Investments, Ltd. 128,000 30,409 0.0% * Li Heng Chemical Fibre Technologies, Ltd. 115,000 9,273 0.0% Lian Beng Group, Ltd. 173,000 92,977 0.0% #* Linc Energy, Ltd. 69,583 56,153 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- SINGAPORE -- (Continued) #* LionGold Corp., Ltd. 258,000 $ 5,434 0.0% Low Keng Huat Singapore, Ltd. 78,000 39,681 0.0% M1, Ltd. 23,000 62,478 0.0% Marco Polo Marine, Ltd. 39,000 10,031 0.0% # Mermaid Maritime PCL 262,000 71,633 0.0% # Midas Holdings, Ltd. 587,000 148,589 0.0% # Nam Cheong, Ltd. 600,000 184,563 0.0% #* Neptune Orient Lines, Ltd. 363,250 236,293 0.0% Noble Group, Ltd. 214,000 199,204 0.0% * Oceanus Group, Ltd. 1,037,000 10,477 0.0% # Olam International, Ltd. 18,000 29,874 0.0% # OSIM International, Ltd. 44,000 63,739 0.0% # Otto Marine, Ltd. 268,000 11,491 0.0% OUE Hospitality Trust 21,167 14,998 0.0% # OUE, Ltd. 127,000 208,792 0.0% Oversea-Chinese Banking Corp., Ltd. 74,544 574,220 0.1% Oxley Holdings, Ltd. 118,000 50,113 0.0% Pan-United Corp., Ltd. 47,000 33,701 0.0% Penguin International, Ltd. 143,000 25,658 0.0% Petra Foods, Ltd. 15,000 44,460 0.0% Popular Holdings, Ltd. 116,000 21,667 0.0% QAF, Ltd. 93,636 74,062 0.0% Raffles Education Corp., Ltd. 324,420 85,999 0.0% Raffles Medical Group, Ltd. 44,209 130,882 0.0% Rotary Engineering, Ltd. 80,000 37,730 0.0% SATS, Ltd. 85,380 206,052 0.0% See Hup Seng, Ltd. 195,000 41,695 0.0% SembCorp Industries, Ltd. 64,000 242,118 0.0% # SembCorp Marine, Ltd. 38,000 107,655 0.0% Sheng Siong Group, Ltd. 109,000 56,849 0.0% # SIA Engineering Co., Ltd. 11,000 40,791 0.0% Sim Lian Group, Ltd. 51,000 34,954 0.0% Sinarmas Land, Ltd. 547,000 259,873 0.1% Singapore Airlines, Ltd. 98,000 755,250 0.1% Singapore Exchange, Ltd. 36,000 196,190 0.0% Singapore Post, Ltd. 144,000 221,021 0.0% # Singapore Press Holdings, Ltd. 58,000 193,322 0.0% Singapore Technologies Engineering, Ltd. 46,000 134,299 0.0% Singapore Telecommunications, Ltd. 147,000 432,662 0.1% #* Sino Grandness Food Industry Group, Ltd. 139,000 46,537 0.0% SMRT Corp., Ltd. 106,000 122,997 0.0% Stamford Land Corp., Ltd. 162,000 70,010 0.0% StarHub, Ltd. 20,000 64,286 0.0% Sunningdale Tech, Ltd. 519,000 80,067 0.0% * SunVic Chemical Holdings, Ltd. 90,000 40,639 0.0% # Super Group, Ltd. 126,000 115,960 0.0% Swiber Holdings, Ltd. 217,000 66,614 0.0% # Swissco Holdings, Ltd. 98,500 62,560 0.0% Tat Hong Holdings, Ltd. 172,000 105,171 0.0% Tiong Woon Corp. Holding, Ltd. 136,000 31,262 0.0% Triyards holdings, Ltd. 21,900 11,314 0.0% Tuan Sing Holdings, Ltd. 2,531 859 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- SINGAPORE -- (Continued) UMS Holdings, Ltd. 146,250 $ 57,520 0.0% # United Engineers, Ltd. 98,000 219,035 0.0% # United Envirotech, Ltd. 116,000 132,411 0.0% United Industrial Corp., Ltd. 98,975 257,510 0.1% United Overseas Bank, Ltd. 29,763 533,224 0.1% UOB-Kay Hian Holdings, Ltd. 88,035 104,855 0.0% UOL Group, Ltd. 127,987 642,847 0.1% UPP Holdings, Ltd. 134,000 26,716 0.0% * Vard Holdings, Ltd. 223,000 119,252 0.0% Venture Corp., Ltd. 98,000 590,293 0.1% Vibrant Group, Ltd. 435,863 36,014 0.0% Wee Hur Holdings, Ltd. 112,000 32,648 0.0% Wheelock Properties Singapore, Ltd. 10,000 14,033 0.0% Wilmar International, Ltd. 93,000 231,820 0.0% Wing Tai Holdings, Ltd. 136,768 190,564 0.0% Yeo Hiap Seng, Ltd. 10,160 15,184 0.0% Yongnam Holdings, Ltd. 596,000 106,884 0.0% ----------------- --------------- TOTAL SINGAPORE 17,906,031 1.4% ----------------- --------------- SPAIN -- (2.3%) Abengoa SA 9,660 42,815 0.0% # Abengoa SA Class B 113,376 479,198 0.0% # Abertis Infraestructuras SA 19,638 409,491 0.0% * Acciona SA 12,651 884,159 0.1% Acerinox SA 23,261 346,109 0.0% ACS Actividades de Construccion y Servicios SA 6,875 255,184 0.0% Adveo Group International SA 3,288 59,756 0.0% * Almirall SA 12,501 205,009 0.0% Amadeus IT Holding SA Class A 16,494 606,850 0.1% Atresmedia Corp de Medios de Comunicacion SA 8,868 130,133 0.0% Banco Bilbao Vizcaya Argentaria SA 114,570 1,281,452 0.1% # Banco Bilbao Vizcaya Argentaria SA Sponsored ADR 35,935 401,035 0.0% Banco de Sabadell SA 644,694 1,863,952 0.2% Banco Popular Espanol SA 336,822 1,934,776 0.2% Banco Santander SA 514,893 4,549,349 0.4% # Banco Santander SA Sponsored ADR 58,542 513,417 0.1% * Bankia SA 269,054 482,507 0.0% Bankinter SA 137,553 1,137,908 0.1% * Baron de Ley 967 87,742 0.0% Bolsas y Mercados Espanoles SA 19,951 759,065 0.1% CaixaBank SA 125,559 686,204 0.1% * Caja de Ahorros del Mediterraneo 8,736 -- 0.0% #* Cementos Portland Valderrivas SA 4,951 26,396 0.0% # Cie Automotive SA 11,979 162,516 0.0% Construcciones y Auxiliar de Ferrocarriles SA 698 232,393 0.0% * Deoleo SA 275,264 127,698 0.0% Distribuidora Internacional de Alimentacion SA 69,728 443,036 0.0% # Duro Felguera SA 21,132 95,720 0.0% Ebro Foods SA 17,048 305,152 0.0% Elecnor SA 6,222 69,397 0.0% Enagas SA 22,279 747,678 0.1% Ence Energia y Celulosa SA 63,531 137,596 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- SPAIN -- (Continued) * Ercros SA 29,067 $ 17,286 0.0% Faes Farma SA 52,448 121,833 0.0% Ferrovial SA 15,762 322,255 0.0% Fluidra SA 6,648 21,774 0.0% #* Fomento de Construcciones y Contratas SA 11,817 217,395 0.0% * Gamesa Corp. Tecnologica SA 76,785 758,101 0.1% Gas Natural SDG SA 18,758 541,670 0.1% Grifols SA 6,558 267,791 0.0% Grupo Catalana Occidente SA 9,114 274,982 0.0% #* Grupo Ezentis SA 28,858 26,029 0.0% Iberdrola SA 400,479 2,834,957 0.2% Iberpapel Gestion SA 130 1,962 0.0% Indra Sistemas SA 28,349 313,183 0.0% * Inmobiliaria Colonial SA 17,696 12,486 0.0% * Jazztel P.L.C. 53,543 856,023 0.1% Mapfre SA 126,004 432,074 0.0% * Mediaset Espana Comunicacion SA 44,034 552,818 0.1% # Melia Hotels International SA 13,052 130,561 0.0% Miquel y Costas & Miquel SA 1,681 58,913 0.0% #* Natra SA 11,883 18,042 0.0% #* NH Hotel Group SA 37,401 170,770 0.0% Obrascon Huarte Lain SA 10,632 310,829 0.0% Papeles y Cartones de Europa SA 23,301 121,704 0.0% * Pescanova SA 4,776 -- 0.0% * Promotora de Informaciones SA Class A 230,144 65,096 0.0% Prosegur Cia de Seguridad SA 44,899 263,724 0.0% #* Realia Business SA 14,616 21,313 0.0% Red Electrica Corp. SA 7,182 627,572 0.1% Repsol SA 66,432 1,484,687 0.1% Repsol SA Sponsored ADR 9,003 201,757 0.0% * Sacyr SA 49,406 217,081 0.0% * Solaria Energia y Medio Ambiente SA 8,257 9,369 0.0% Tecnicas Reunidas SA 7,005 345,089 0.0% * Telecomunicaciones y Energia 12,308 21,242 0.0% Telefonica SA 70,183 1,056,091 0.1% Telefonica SA Sponsored ADR 7,184 107,616 0.0% Tubacex SA 36,344 154,560 0.0% Tubos Reunidos SA 29,237 85,640 0.0% Vidrala SA 4,838 192,209 0.0% Viscofan SA 9,066 533,086 0.1% * Vocento SA 341 653 0.0% Zardoya Otis SA 10,842 126,418 0.0% * Zeltia SA 40,950 133,638 0.0% ----------------- --------------- TOTAL SPAIN 33,493,972 2.6% ----------------- --------------- SWEDEN -- (2.8%) AAK AB 5,537 300,315 0.0% Acando AB 18,648 28,731 0.0% AddTech AB Class B 11,132 157,788 0.0% AF AB Class B 27,148 411,423 0.0% Alfa Laval AB 9,466 195,131 0.0% #* Arise AB 1,403 3,224 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- SWEDEN -- (Continued) Assa Abloy AB Class B 15,042 $ 798,498 0.1% Avanza Bank Holding AB 5,384 171,551 0.0% Axfood AB 4,123 253,708 0.0% # Axis Communications AB 8,302 226,947 0.0% B&B Tools AB Class B 10,741 201,364 0.0% Beijer Alma AB 4,922 114,532 0.0% Beijer Electronics AB 728 5,401 0.0% Beijer Ref AB Class B 5,568 101,135 0.0% Betsson AB 9,315 329,121 0.0% Bilia AB Class A 10,790 306,291 0.0% BillerudKorsnas AB 70,705 1,031,287 0.1% BioGaia AB Class B 1,367 34,831 0.0% # Biotage AB 10,917 17,398 0.0% Bjoern Borg AB 5,637 17,130 0.0% Boliden AB 86,541 1,430,294 0.1% Bulten AB 5,341 44,518 0.0% Bure Equity AB 26,556 111,293 0.0% Byggmax Group AB 27,903 173,162 0.0% Castellum AB 19,653 301,381 0.0% # Cavotec SA 1,266 4,141 0.0% #* CDON Group AB 13,212 35,717 0.0% Clas Ohlson AB Class B 6,555 112,969 0.0% * Cloetta AB Class B 18,396 53,413 0.0% Concentric AB 12,564 153,732 0.0% * Concordia Maritime AB Class B 10,317 15,481 0.0% * CyberCom Group AB 40,014 14,184 0.0% Dios Fastigheter AB 4,962 33,619 0.0% Doro AB 6,042 26,610 0.0% Duni AB 15,309 218,275 0.0% Electrolux AB Series B 25,236 715,057 0.1% Elekta AB Class B 13,870 142,235 0.0% #* Eniro AB 53,618 59,008 0.0% Fabege AB 18,163 233,152 0.0% * Fastighets AB Balder 5,442 70,906 0.0% Getinge AB Class B 14,356 329,372 0.0% Gunnebo AB 22,223 112,334 0.0% Haldex AB 25,076 307,756 0.0% Hexagon AB Class B 15,394 519,479 0.1% Hexpol AB 5,106 452,377 0.0% HIQ International AB 12,845 69,495 0.0% Holmen AB Class B 21,505 711,763 0.1% Hufvudstaden AB Class A 2,399 31,129 0.0% Husqvarna AB Class A 16,925 125,466 0.0% Husqvarna AB Class B 103,112 769,848 0.1% ICA Gruppen AB 20,974 839,812 0.1% Industrial & Financial Systems Class B 6,123 190,661 0.0% Indutrade AB 3,575 144,364 0.0% Intrum Justitia AB 17,836 531,186 0.1% JM AB 18,204 588,394 0.1% * Kambi Group P.L.C. Class B 698 6,666 0.0% * KappAhl AB 25,937 143,768 0.0% #* Karolinska Development AB Class B 1,834 3,127 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- SWEDEN -- (Continued) Klovern AB 4,341 $ 22,101 0.0% KNOW IT AB 5,593 40,889 0.0% Kungsleden AB 21,169 132,055 0.0% Lagercrantz AB Class B 3,413 64,698 0.0% * Lindab International AB 29,018 266,794 0.0% Loomis AB Class B 17,254 475,331 0.0% * Lundin Petroleum AB 7,830 110,674 0.0% Meda AB Class A 108,053 1,415,072 0.1% #* Medivir AB Class B 10,854 183,282 0.0% # Mekonomen AB 7,721 162,859 0.0% Millicom International Cellular SA 2,531 206,569 0.0% Modern Times Group AB Class B 11,714 362,150 0.0% MQ Holding AB 13,911 63,343 0.0% Mycronic AB 35,480 96,359 0.0% NCC AB Class A 516 15,208 0.0% # NCC AB Class B 23,066 678,488 0.1% Net Entertainment NE AB 6,716 207,530 0.0% Nibe Industrier AB Class B 13,665 362,727 0.0% Nobia AB 39,782 323,380 0.0% Nolato AB Class B 11,530 266,615 0.0% Nordea Bank AB 142,263 1,829,752 0.2% Nordnet AB Class B 31,007 109,424 0.0% OEM International AB Class B 1,100 14,288 0.0% # Oriflame Cosmetics SA 3,042 53,175 0.0% #* PA Resources AB 1,706 658 0.0% Peab AB 80,068 543,587 0.1% #* Pricer AB Class B 45,176 33,718 0.0% Proact IT Group AB 1,449 15,938 0.0% Proffice AB Class B 15,374 38,867 0.0% # Ratos AB Class B 97,552 654,728 0.1% * Rezidor Hotel Group AB 21,677 94,651 0.0% Saab AB Class B 26,267 709,397 0.1% Sandvik AB 61,381 674,277 0.1% * SAS AB 66,288 102,020 0.0% Securitas AB Class B 38,922 430,696 0.0% Semcon AB 5,805 42,512 0.0% Skandinaviska Enskilda Banken AB Class A 117,140 1,504,577 0.1% Skanska AB Class B 31,536 642,844 0.1% SKF AB Class B 19,381 388,733 0.0% SkiStar AB 10,926 125,113 0.0% * SSAB AB Class A(BPRBWK4) 19,797 140,792 0.0% #* SSAB AB Class A(B17H0S8) 68,211 494,970 0.1% * SSAB AB Class B(BPRBWM6) 50,538 326,931 0.0% * SSAB AB Class B(B17H3F6) 9,157 58,646 0.0% Svenska Cellulosa AB Class A 5,303 119,140 0.0% Svenska Cellulosa AB Class B 51,350 1,150,573 0.1% Svenska Handelsbanken AB Class A 23,469 1,121,940 0.1% Svenska Handelsbanken AB Class B 918 42,169 0.0% Sweco AB Class B 6,755 94,095 0.0% Swedbank AB Class A 42,611 1,129,220 0.1% Swedish Match AB 7,575 246,317 0.0% * Swedish Orphan Biovitrum AB 34,824 398,293 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- SWEDEN -- (Continued) Systemair AB 819 $ 10,847 0.0% Tele2 AB Class B 142,460 1,810,039 0.2% Telefonaktiebolaget LM Ericsson Class A 4,300 47,896 0.0% Telefonaktiebolaget LM Ericsson Class B 80,470 950,865 0.1% TeliaSonera AB 116,098 803,952 0.1% # TradeDoubler AB 9,598 10,071 0.0% * Transcom WorldWide SA 106,474 15,842 0.0% # Transmode AB 1,524 11,323 0.0% Trelleborg AB Class B 60,127 1,029,395 0.1% Unibet Group P.L.C. 7,747 446,536 0.0% Vitrolife AB 2,365 47,885 0.0% Volvo AB Class A 13,728 160,013 0.0% Volvo AB Class B 52,952 611,089 0.1% Wallenstam AB Class B 10,848 163,669 0.0% Wihlborgs Fastigheter AB 8,920 156,442 0.0% ----------------- --------------- TOTAL SWEDEN 39,595,979 3.0% ----------------- --------------- SWITZERLAND -- (5.9%) ABB, Ltd. 59,711 1,309,980 0.1% # ABB, Ltd. Sponsored ADR 16,820 369,031 0.0% Actelion, Ltd. 5,976 711,713 0.1% Adecco SA 22,434 1,520,613 0.1% AFG Arbonia-Forster Holding AG 6,902 168,473 0.0% Allreal Holding AG 5,118 677,459 0.1% Alpiq Holding AG 657 66,100 0.0% ALSO Holding AG 321 17,517 0.0% ams AG 20,295 727,758 0.1% APG SGA SA 523 152,282 0.0% Aryzta AG 25,690 2,191,397 0.2% Ascom Holding AG 20,512 301,083 0.0% Autoneum Holding AG 2,033 338,770 0.0% # Bachem Holding AG Class B 888 45,164 0.0% Baloise Holding AG 12,300 1,548,383 0.1% Bank Coop AG 1,479 65,309 0.0% Banque Cantonale de Geneve 163 36,002 0.0% Banque Cantonale Vaudoise 1,054 564,503 0.1% Barry Callebaut AG 295 309,623 0.0% Basler Kantonalbank 599 39,948 0.0% Belimo Holding AG 103 255,639 0.0% Bell AG 32 73,876 0.0% # Berner Kantonalbank AG 1,342 250,808 0.0% Bobst Group SA 4,877 212,270 0.0% Bossard Holding AG Class A 1,974 200,081 0.0% Bucher Industries AG 3,203 813,603 0.1% Burckhardt Compression Holding AG 548 234,785 0.0% Burkhalter Holding AG 1,062 89,976 0.0% Calida Holding AG 57 2,202 0.0% Carlo Gavazzi Holding AG 42 9,950 0.0% Cham Paper Holding AG 17 4,257 0.0% * Charles Voegele Holding AG 4,299 65,498 0.0% Chocoladefabriken Lindt & Sprungli AG 3 179,695 0.0% Cie Financiere Richemont SA 11,991 1,011,007 0.1% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- SWITZERLAND -- (Continued) Cie Financiere Tradition SA 319 $ 14,312 0.0% Clariant AG 127,828 2,229,708 0.2% * Coca-Cola HBC AG ADR 7,574 164,522 0.0% Coltene Holding AG 2,041 126,879 0.0% Conzzeta AG 58 204,654 0.0% Credit Suisse Group AG 94,484 2,517,412 0.2% # Credit Suisse Group AG Sponsored ADR 15,501 412,947 0.0% Daetwyler Holding AG 1,765 223,773 0.0% # DKSH Holding AG 4,998 369,549 0.0% * Dufry AG 7,512 1,083,006 0.1% Edmond de Rothschild Suisse SA 1 15,905 0.0% EFG International AG 21,411 222,616 0.0% Emmi AG 1,229 434,399 0.0% EMS-Chemie Holding AG 439 158,097 0.0% # Energiedienst Holding AG 1,258 41,196 0.0% #* Evolva Holding SA 4,494 5,689 0.0% Feintool International Holding AG 426 38,794 0.0% Flughafen Zuerich AG 2,148 1,368,744 0.1% Forbo Holding AG 550 571,299 0.1% # Galenica AG 975 834,337 0.1% GAM Holding AG 82,449 1,408,053 0.1% Gategroup Holding AG 12,392 279,234 0.0% Geberit AG 2,072 707,246 0.1% Georg Fischer AG 2,205 1,273,552 0.1% Givaudan SA 604 1,008,663 0.1% Gurit Holding AG 216 90,467 0.0% Helvetia Holding AG 2,463 1,171,195 0.1% Holcim, Ltd. 28,208 2,002,049 0.2% Huber & Suhner AG 4,937 243,534 0.0% Implenia AG 5,105 275,238 0.0% Inficon Holding AG 488 152,252 0.0% Interroll Holding AG 309 175,700 0.0% Intershop Holdings AG 257 94,849 0.0% Julius Baer Group, Ltd. 56,140 2,461,050 0.2% Jungfraubahn Holding AG 27 2,119 0.0% Kaba Holding AG Class B 1,390 662,712 0.1% Kardex AG 4,236 191,628 0.0% Komax Holding AG 1,955 288,062 0.0% Kudelski SA 22,484 286,754 0.0% Kuehne + Nagel International AG 2,059 268,350 0.0% Kuoni Reisen Holding AG 1,593 434,287 0.0% LEM Holding SA 136 102,061 0.0% Liechtensteinische Landesbank AG 4,097 164,427 0.0% * LifeWatch AG 2,259 21,566 0.0% Logitech International SA(H50430232) 1,770 25,152 0.0% Logitech International SA(B18ZRK2) 46,055 652,036 0.1% Lonza Group AG 19,866 2,188,965 0.2% Luzerner Kantonalbank AG 1,263 456,829 0.1% MCH Group AG 200 13,308 0.0% Metall Zug AG 42 103,561 0.0% #* Meyer Burger Technology AG 32,461 273,829 0.0% Micronas Semiconductor Holding AG 18,141 121,358 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- SWITZERLAND -- (Continued) Mikron Holding AG 4,766 $ 32,306 0.0% * Mobilezone Holding AG 7,511 79,977 0.0% Mobimo Holding AG 2,825 556,832 0.1% Nestle SA 92,984 6,818,898 0.5% Nobel Biocare Holding AG 17,539 310,632 0.0% Novartis AG 53,863 4,998,640 0.4% Novartis AG ADR 22,831 2,116,205 0.2% OC Oerlikon Corp. AG 70,031 886,105 0.1% * Orascom Development Holding AG 6,426 112,172 0.0% #* Orell Fuessli Holding AG 184 17,803 0.0% Orior AG 1,130 61,094 0.0% Panalpina Welttransport Holding AG 1,819 235,637 0.0% Partners Group Holding AG 1,132 301,238 0.0% Phoenix Mecano AG 200 90,406 0.0% PSP Swiss Property AG 1,506 129,255 0.0% Rieter Holding AG 1,736 320,590 0.0% Romande Energie Holding SA 52 57,780 0.0% Schaffner Holding AG 327 94,656 0.0% Schindler Holding AG 551 74,596 0.0% * Schmolz + Bickenbach AG 310,797 375,307 0.0% Schweiter Technologies AG 308 222,404 0.0% SGS SA 201 441,903 0.1% Siegfried Holding AG 1,861 286,046 0.0% Sika AG 334 1,193,924 0.1% Sonova Holding AG 1,172 182,751 0.0% St Galler Kantonalbank AG 830 300,192 0.0% Straumann Holding AG 679 167,173 0.0% Sulzer AG 6,928 789,646 0.1% Swatch Group AG (The)(7184725) 3,067 1,454,868 0.1% Swatch Group AG (The)(7184736) 1,759 148,816 0.0% Swiss Life Holding AG 8,390 1,925,008 0.2% Swiss Re AG 49,846 4,030,588 0.3% Swisscom AG 1,139 671,464 0.1% * Swisslog Holding AG 91,842 128,037 0.0% Swissquote Group Holding SA 3,840 119,768 0.0% Syngenta AG 3,296 1,019,312 0.1% Syngenta AG ADR 2,693 166,966 0.0% Tamedia AG 359 47,130 0.0% Tecan Group AG 3,097 327,103 0.0% Temenos Group AG 16,040 560,010 0.1% #* Tornos Holding AG 2,333 13,928 0.0% U-Blox AG 2,408 325,524 0.0% UBS AG(H89231338) 92,566 1,608,797 0.1% UBS AG(B18YFJ4) 68,935 1,198,651 0.1% Valiant Holding AG 5,981 523,129 0.1% Valora Holding AG 1,673 346,527 0.0% Vaudoise Assurances Holding SA Class B 452 197,677 0.0% Vetropack Holding AG 68 116,101 0.0% # Vontobel Holding AG 10,159 369,244 0.0% VP Bank AG 1,628 135,002 0.0% Walliser Kantonalbank 41 30,950 0.0% * Walter Meier AG 525 21,021 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- SWITZERLAND -- (Continued) Ypsomed Holding AG 784 $ 70,468 0.0% # Zehnder Group AG 3,936 154,742 0.0% Zug Estates Holding AG 50 60,615 0.0% Zuger Kantonalbank AG 22 101,723 0.0% Zurich Insurance Group AG 15,572 4,712,530 0.4% ----------------- --------------- TOTAL SWITZERLAND 85,042,546 6.5% ----------------- --------------- UNITED KINGDOM -- (16.5%) 4imprint Group P.L.C. 979 12,307 0.0% 888 Holdings P.L.C. 62,932 129,013 0.0% A.G. BARR P.L.C. 15,169 143,310 0.0% Aberdeen Asset Management P.L.C. 110,063 765,446 0.1% Acal P.L.C. 5,153 17,338 0.0% Admiral Group P.L.C. 14,066 300,972 0.0% * Afren P.L.C. 449,270 553,930 0.0% African Barrick Gold P.L.C. 63,219 208,266 0.0% * Aga Rangemaster Group P.L.C. 43,446 101,601 0.0% Aggreko P.L.C. 31,094 758,641 0.1% Alent P.L.C. 94,436 507,058 0.0% AMEC P.L.C. 62,426 1,040,900 0.1% Amlin P.L.C. 163,072 1,190,186 0.1% Anglo American P.L.C. 214,596 4,530,883 0.4% Anglo Pacific Group P.L.C. 33,437 70,836 0.0% Anglo-Eastern Plantations P.L.C. 19 196 0.0% Anite P.L.C. 76,270 106,570 0.0% Antofagasta P.L.C. 36,033 405,796 0.0% ARM Holdings P.L.C. 29,062 411,441 0.0% ARM Holdings P.L.C. Sponsored ADR 2,285 97,592 0.0% Ashmore Group P.L.C. 75,862 387,382 0.0% Ashtead Group P.L.C. 99,963 1,674,803 0.1% Associated British Foods P.L.C. 18,738 826,942 0.1% AstraZeneca P.L.C. 956 69,834 0.0% AstraZeneca P.L.C. Sponsored ADR 25,379 1,851,144 0.1% Aveva Group P.L.C. 6,921 169,822 0.0% Aviva P.L.C. 255,520 2,137,234 0.2% Aviva P.L.C. Sponsored ADR 10,982 182,850 0.0% Babcock International Group P.L.C. 47,748 838,027 0.1% BAE Systems P.L.C. 197,334 1,453,218 0.1% Balfour Beatty P.L.C. 238,890 590,192 0.1% Bank of Georgia Holdings P.L.C. 10,094 413,981 0.0% Barclays P.L.C. 261,975 1,007,534 0.1% Barclays P.L.C. Sponsored ADR 138,287 2,129,620 0.2% Barratt Developments P.L.C. 440,009 2,957,906 0.2% BBA Aviation P.L.C. 121,785 689,396 0.1% Beazley P.L.C. 230,795 969,388 0.1% Bellway P.L.C. 41,816 1,172,985 0.1% Berendsen P.L.C. 53,264 862,508 0.1% Berkeley Group Holdings P.L.C. 41,974 1,535,043 0.1% Betfair Group P.L.C. 12,398 240,248 0.0% BG Group P.L.C. 132,145 2,202,333 0.2% BHP Billiton P.L.C. 3,376 87,224 0.0% # BHP Billiton P.L.C. ADR 28,413 1,478,613 0.1% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- UNITED KINGDOM -- (Continued) Bloomsbury Publishing P.L.C. 1,815 $ 4,659 0.0% Bodycote P.L.C. 64,574 646,301 0.1% Booker Group P.L.C. 273,141 613,841 0.1% Boot Henry P.L.C. 736 2,272 0.0% Bovis Homes Group P.L.C. 53,833 727,029 0.1% BP P.L.C. 311,879 2,243,939 0.2% BP P.L.C. Sponsored ADR 139,975 6,083,313 0.5% Braemar Shipping Services P.L.C. 1,625 12,214 0.0% Brammer P.L.C. 11,857 61,602 0.0% Brewin Dolphin Holdings P.L.C. 94,726 431,391 0.0% British Polythene Industries P.L.C. 9,952 103,092 0.0% British Sky Broadcasting Group P.L.C. 45,188 640,416 0.1% Britvic P.L.C. 64,300 701,063 0.1% * BTG P.L.C. 82,669 999,283 0.1% Bunzl P.L.C. 18,629 505,879 0.0% Burberry Group P.L.C. 27,349 672,062 0.1% Bwin.Party Digital Entertainment P.L.C. 241,428 347,056 0.0% Cable & Wireless Communications P.L.C. 820,162 633,797 0.1% * Cairn Energy P.L.C. 13,833 32,351 0.0% Cape P.L.C. 49,508 214,172 0.0% Capita P.L.C. 29,905 525,787 0.0% Capital & Counties Properties P.L.C. 1,729 9,459 0.0% Capital & Regional P.L.C. 34,857 26,860 0.0% Carclo P.L.C. 6,128 8,706 0.0% Carillion P.L.C. 144,464 769,649 0.1% Carnival P.L.C. 12,712 506,903 0.0% Carnival P.L.C. ADR 4,499 179,240 0.0% Castings P.L.C. 9,986 70,127 0.0% Catlin Group, Ltd. 199,452 1,713,449 0.1% Centamin P.L.C. 470,203 385,031 0.0% Centaur Media P.L.C. 3,412 3,164 0.0% Centrica P.L.C. 336,904 1,633,975 0.1% Chemring Group P.L.C. 102,517 400,102 0.0% Chesnara P.L.C. 47,334 260,716 0.0% Chime Communications P.L.C. 14,821 65,772 0.0% Cineworld Group P.L.C. 70,040 375,471 0.0% Clarkson P.L.C. 1,048 37,711 0.0% Close Brothers Group P.L.C. 48,136 1,129,612 0.1% Cobham P.L.C. 250,041 1,166,362 0.1% Coca-Cola HBC AG 12,535 273,445 0.0% * Colt Group SA 164,041 361,420 0.0% Communisis P.L.C. 101,723 89,715 0.0% Compass Group P.L.C. 76,919 1,241,536 0.1% Computacenter P.L.C. 30,884 305,430 0.0% Connect Group P.L.C. 33,764 95,185 0.0% Consort Medical P.L.C. 8,267 95,052 0.0% Costain Group P.L.C. 9,058 42,239 0.0% Cranswick P.L.C. 17,659 400,938 0.0% Creston P.L.C. 3,606 6,666 0.0% Croda International P.L.C. 25,481 936,843 0.1% CSR P.L.C. 55,173 741,483 0.1% CSR P.L.C. ADR 700 37,541 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- UNITED KINGDOM -- (Continued) Daily Mail & General Trust P.L.C. 69,119 $ 874,596 0.1% Dairy Crest Group P.L.C. 58,729 392,315 0.0% Darty P.L.C. 41,880 50,903 0.0% DCC P.L.C. 19,149 1,073,125 0.1% De La Rue P.L.C. 8,843 74,048 0.0% Debenhams P.L.C. 497,111 516,130 0.0% Dechra Pharmaceuticals P.L.C. 29,089 353,719 0.0% Development Securities P.L.C. 40,772 138,121 0.0% Devro P.L.C. 67,703 295,195 0.0% Dialight P.L.C. 2,870 39,421 0.0% Dignity P.L.C. 14,409 362,236 0.0% Diploma P.L.C. 43,489 483,964 0.0% Direct Line Insurance Group P.L.C. 62,205 275,174 0.0% Dixons Carphone P.L.C. 132,443 840,986 0.1% Domino Printing Sciences P.L.C. 42,280 408,917 0.0% Domino's Pizza Group P.L.C. 22,020 224,310 0.0% Drax Group P.L.C. 125,752 1,196,529 0.1% DS Smith P.L.C. 259,680 1,102,927 0.1% Dunelm Group P.L.C. 12,698 171,277 0.0% E2V Technologies P.L.C. 29,334 75,256 0.0% easyJet P.L.C. 41,139 988,527 0.1% Electrocomponents P.L.C. 202,665 745,234 0.1% Elementis P.L.C. 180,746 765,486 0.1% * EnQuest P.L.C. 366,371 407,455 0.0% * Enterprise Inns P.L.C. 206,247 422,544 0.0% Essentra P.L.C. 53,129 584,960 0.1% Euromoney Institutional Investor P.L.C. 5,912 99,600 0.0% Evraz P.L.C. 45,932 95,217 0.0% Experian P.L.C. 53,125 798,795 0.1% Fenner P.L.C. 78,601 389,015 0.0% Ferrexpo P.L.C. 79,470 107,317 0.0% Fidessa Group P.L.C. 10,067 377,101 0.0% * Findel P.L.C. 17,993 76,001 0.0% * Firstgroup P.L.C. 514,863 927,843 0.1% * Fortune Oil P.L.C. 427,324 54,553 0.0% * French Connection Group P.L.C. 9,786 7,868 0.0% Fresnillo P.L.C. 219 2,447 0.0% Friends Life Group, Ltd. 461,924 2,395,548 0.2% Fuller Smith & Turner 7,612 113,990 0.0% G4S P.L.C. 203,272 832,042 0.1% Galliford Try P.L.C. 32,473 635,546 0.1% * Gem Diamonds, Ltd. 50,403 125,405 0.0% Genus P.L.C. 10,956 215,827 0.0% GKN P.L.C. 197,612 1,009,783 0.1% Glencore P.L.C. 235,725 1,209,421 0.1% Go-Ahead Group P.L.C. 11,527 453,850 0.0% Grafton Group P.L.C. 72,417 735,131 0.1% Greencore Group P.L.C. 182,651 766,405 0.1% Greene King P.L.C. 77,147 991,837 0.1% Greggs P.L.C. 52,965 513,749 0.0% Halfords Group P.L.C. 96,461 765,734 0.1% Halma P.L.C. 86,803 866,114 0.1% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- UNITED KINGDOM -- (Continued) Hargreaves Lansdown P.L.C. 15,573 $ 248,144 0.0% Hays P.L.C. 393,986 778,123 0.1% Headlam Group P.L.C. 17,739 111,001 0.0% Helical Bar P.L.C. 49,359 276,708 0.0% Henderson Group P.L.C. 241,450 813,127 0.1% Hikma Pharmaceuticals P.L.C. 31,569 957,503 0.1% Hill & Smith Holdings P.L.C. 34,743 315,661 0.0% Hilton Food Group P.L.C. 435 2,608 0.0% Hiscox, Ltd. 101,931 1,111,737 0.1% * Hochschild Mining P.L.C. 52,650 83,244 0.0% Hogg Robinson Group P.L.C. 4,980 3,413 0.0% Home Retail Group P.L.C. 385,828 1,132,228 0.1% Homeserve P.L.C. 106,245 587,022 0.1% Howden Joinery Group P.L.C. 166,412 913,041 0.1% HSBC Holdings P.L.C. 22,970 234,188 0.0% # HSBC Holdings P.L.C. Sponsored ADR 186,519 9,516,199 0.7% Hunting P.L.C. 43,250 509,445 0.0% Huntsworth P.L.C. 36,761 26,145 0.0% ICAP P.L.C. 152,908 1,026,580 0.1% IG Group Holdings P.L.C. 92,271 889,258 0.1% * Imagination Technologies Group P.L.C. 30,111 92,105 0.0% IMI P.L.C. 16,892 330,793 0.0% Imperial Tobacco Group P.L.C. 24,337 1,057,244 0.1% Inchcape P.L.C. 151,175 1,684,136 0.1% Informa P.L.C. 162,563 1,253,256 0.1% Inmarsat P.L.C. 110,029 1,208,106 0.1% Innovation Group P.L.C. 285,545 123,583 0.0% InterContinental Hotels Group P.L.C. 10,739 407,908 0.0% InterContinental Hotels Group P.L.C. ADR 1,347 51,202 0.0% * International Consolidated Airlines Group SA 189,265 1,241,575 0.1% * International Ferro Metals, Ltd. 82,212 7,569 0.0% Interserve P.L.C. 53,044 538,541 0.0% Intertek Group P.L.C. 10,066 438,738 0.0% Investec P.L.C. 156,294 1,433,133 0.1% * IP Group P.L.C. 29,743 98,873 0.0% ITE Group P.L.C. 63,503 173,266 0.0% ITV P.L.C. 239,315 777,459 0.1% J D Wetherspoon P.L.C. 41,170 556,620 0.0% # J Sainsbury P.L.C. 268,940 1,059,505 0.1% James Fisher & Sons P.L.C. 15,830 330,029 0.0% Jardine Lloyd Thompson Group P.L.C. 26,214 399,689 0.0% JD Sports Fashion P.L.C. 18,768 138,796 0.0% #* JKX Oil & Gas P.L.C. 65,541 39,949 0.0% John Menzies P.L.C. 13,641 108,217 0.0% John Wood Group P.L.C. 101,545 1,077,403 0.1% Johnson Matthey P.L.C. 24,671 1,177,850 0.1% * Johnston Press P.L.C. 72,415 4,007 0.0% Jupiter Fund Management P.L.C. 71,822 411,883 0.0% * Kazakhmys P.L.C. 65,810 242,795 0.0% Kcom Group P.L.C. 164,283 244,600 0.0% Keller Group P.L.C. 32,015 427,773 0.0% Kier Group P.L.C. 14,292 340,844 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- UNITED KINGDOM -- (Continued) Kingfisher P.L.C. 179,266 $ 868,448 0.1% Ladbrokes P.L.C. 278,530 527,553 0.0% Laird P.L.C. 124,397 627,893 0.1% * Lamprell P.L.C. 130,782 306,885 0.0% Lancashire Holdings, Ltd. 60,286 646,194 0.1% Laura Ashley Holdings P.L.C. 22,105 9,794 0.0% Lavendon Group P.L.C. 37,311 109,506 0.0% Legal & General Group P.L.C. 493,055 1,827,403 0.1% * Lloyds Banking Group P.L.C. 2,860,531 3,532,438 0.3% * Lloyds Banking Group P.L.C. ADR 86,406 425,118 0.0% London Stock Exchange Group P.L.C. 31,216 1,008,077 0.1% #* Lonmin P.L.C. 219,185 614,394 0.1% Lookers P.L.C. 87,791 195,251 0.0% Low & Bonar P.L.C. 33,427 29,656 0.0% LSL Property Services P.L.C. 3,008 15,068 0.0% Man Group P.L.C. 1,063,704 2,109,083 0.2% Management Consulting Group P.L.C. 29,849 8,409 0.0% Marks & Spencer Group P.L.C. 81,761 532,413 0.0% Marshalls P.L.C. 56,963 181,780 0.0% Marston's P.L.C. 274,849 663,817 0.1% McBride P.L.C. 40,404 51,388 0.0% Mears Group P.L.C. 27,942 197,419 0.0% #* Mecom Group P.L.C. 48,620 101,084 0.0% Meggitt P.L.C. 151,345 1,093,226 0.1% Melrose Industries P.L.C. 256,255 1,053,231 0.1% Michael Page International P.L.C. 59,999 374,098 0.0% Micro Focus International P.L.C. 23,302 371,230 0.0% Millennium & Copthorne Hotels P.L.C. 57,003 520,005 0.0% * Mitchells & Butlers P.L.C. 86,201 524,686 0.0% Mitie Group P.L.C. 195,549 943,475 0.1% MJ Gleeson Group P.L.C. 400 2,241 0.0% Mondi P.L.C. 70,018 1,183,337 0.1% Moneysupermarket.com Group P.L.C. 109,255 350,979 0.0% Morgan Advanced Materials P.L.C. 119,652 540,947 0.0% Morgan Sindall Group P.L.C. 13,669 150,460 0.0% * Mothercare P.L.C. 27,806 77,842 0.0% N Brown Group P.L.C. 43,294 233,054 0.0% National Express Group P.L.C. 176,767 705,779 0.1% NCC Group P.L.C. 31,691 99,992 0.0% Next P.L.C. 7,103 733,290 0.1% Northgate P.L.C. 69,540 545,508 0.0% Novae Group P.L.C. 20,960 185,827 0.0% Old Mutual P.L.C. 807,532 2,507,852 0.2% * Optos P.L.C. 10,238 38,488 0.0% Oxford Instruments P.L.C. 12,042 208,660 0.0% Pace P.L.C. 165,760 921,532 0.1% PayPoint P.L.C. 10,275 141,839 0.0% Pearson P.L.C. 15,716 294,589 0.0% Pearson P.L.C. Sponsored ADR 19,843 372,056 0.0% Pendragon P.L.C. 194,595 98,357 0.0% Pennon Group P.L.C. 46,733 623,620 0.1% Persimmon P.L.C. 72,019 1,691,379 0.1% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- UNITED KINGDOM -- (Continued) * Petra Diamonds, Ltd. 169,369 $ 449,338 0.0% Petrofac, Ltd. 30,926 523,990 0.0% #* Petropavlovsk P.L.C. 109,298 37,761 0.0% Phoenix Group Holdings 57,959 699,820 0.1% Phoenix IT Group P.L.C. 10,671 20,456 0.0% Photo-Me International P.L.C. 29,793 62,917 0.0% Playtech P.L.C. 19,271 218,273 0.0% Premier Farnell P.L.C. 106,191 322,524 0.0% * Premier Foods P.L.C. 252,475 133,269 0.0% Premier Oil P.L.C. 179,695 742,012 0.1% Prudential P.L.C. 63,229 1,464,133 0.1% Prudential P.L.C. ADR 800 37,064 0.0% * Punch Taverns P.L.C. 6,980 16,844 0.0% PZ Cussons P.L.C. 31,769 188,431 0.0% QinetiQ Group P.L.C. 183,372 594,327 0.1% * Quintain Estates & Development P.L.C. 244,216 320,868 0.0% Randgold Resources, Ltd. 3,395 198,704 0.0% Rank Group P.L.C. 1,366 3,610 0.0% * Raven Russia, Ltd. 27,579 27,325 0.0% REA Holdings P.L.C. 1,822 11,676 0.0% Redrow P.L.C. 100,282 464,258 0.0% Reed Elsevier P.L.C. 10,159 167,189 0.0% # Reed Elsevier P.L.C. Sponsored ADR 4,919 323,375 0.0% Regus P.L.C. 184,170 583,458 0.1% Renishaw P.L.C. 8,493 241,605 0.0% * Renold P.L.C. 12,120 11,009 0.0% Rentokil Initial P.L.C. 188,971 372,676 0.0% Restaurant Group P.L.C. (The) 55,385 600,067 0.1% Rexam P.L.C. 168,840 1,286,875 0.1% Ricardo P.L.C. 15,777 166,667 0.0% Rightmove P.L.C. 19,077 645,252 0.1% Rio Tinto P.L.C. 5,471 260,318 0.0% # Rio Tinto P.L.C. Sponsored ADR 42,049 2,017,091 0.2% RM P.L.C. 8,611 19,986 0.0% Robert Walters P.L.C. 16,237 75,158 0.0% Rolls-Royce Holdings P.L.C. 73,150 990,778 0.1% Rotork P.L.C. 20,821 853,482 0.1% * Royal Bank of Scotland Group P.L.C. 146,144 908,659 0.1% Royal Dutch Shell P.L.C. ADR(780259206) 80,746 5,796,755 0.4% # Royal Dutch Shell P.L.C. ADR(780259107) 80,780 6,031,843 0.5% Royal Dutch Shell P.L.C. Class A 582 20,790 0.0% Royal Dutch Shell P.L.C. Class B 6,539 241,586 0.0% RPC Group P.L.C. 75,882 662,769 0.1% RPS Group P.L.C. 94,111 353,341 0.0% * RSA Insurance Group P.L.C. 287,221 2,222,416 0.2% SABMiller P.L.C. 11,226 634,976 0.1% Sage Group P.L.C. (The) 137,205 830,838 0.1% * Salamander Energy P.L.C. 95,499 162,077 0.0% Savills P.L.C. 46,440 478,188 0.0% Schroders P.L.C.(0240549) 6,245 241,509 0.0% Schroders P.L.C.(0239581) 4,732 145,969 0.0% * SDL P.L.C. 22,182 139,780 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- UNITED KINGDOM -- (Continued) Senior P.L.C. 172,526 $ 740,601 0.1% Sepura P.L.C. 6,972 15,273 0.0% Serco Group P.L.C. 31,940 152,418 0.0% * Severfield P.L.C. 65,902 63,435 0.0% Severn Trent P.L.C. 12,799 409,101 0.0% Shanks Group P.L.C. 217,717 339,104 0.0% Shire P.L.C. 15,631 1,048,792 0.1% Shire P.L.C. ADR 1,800 359,640 0.0% SIG P.L.C. 254,991 597,842 0.1% * Skyepharma P.L.C. 3,686 20,783 0.0% Smith & Nephew P.L.C. 41,932 711,809 0.1% Smith & Nephew P.L.C. Sponsored ADR 3,930 133,817 0.0% Smiths Group P.L.C. 44,545 831,954 0.1% Soco International P.L.C. 79,470 418,544 0.0% Spectris P.L.C. 33,211 959,262 0.1% Speedy Hire P.L.C. 230,561 229,561 0.0% Spirax-Sarco Engineering P.L.C. 18,290 835,731 0.1% Spirent Communications P.L.C. 122,722 146,752 0.0% Spirit Pub Co. P.L.C. 301,511 514,461 0.0% * Sportech P.L.C. 2,757 2,578 0.0% * Sports Direct International P.L.C. 27,263 281,584 0.0% SSE P.L.C. 58,310 1,494,543 0.1% St Ives P.L.C. 21,928 67,632 0.0% St James's Place P.L.C. 61,803 738,997 0.1% ST Modwen Properties P.L.C. 92,934 538,676 0.0% Stagecoach Group P.L.C. 119,857 742,920 0.1% Standard Chartered P.L.C. 101,430 1,526,791 0.1% Standard Life P.L.C. 152,747 964,533 0.1% Sthree P.L.C. 12,874 63,795 0.0% Stobart Group, Ltd. 36,371 57,772 0.0% * SuperGroup P.L.C. 12,068 160,488 0.0% Synergy Health P.L.C. 24,232 724,806 0.1% Synthomer P.L.C. 92,336 300,253 0.0% TalkTalk Telecom Group P.L.C. 134,910 649,317 0.1% Tate & Lyle P.L.C. 77,943 754,340 0.1% Taylor Wimpey P.L.C. 806,652 1,532,285 0.1% Ted Baker P.L.C. 4,965 155,035 0.0% Telecity Group P.L.C. 33,362 411,984 0.0% Telecom Plus P.L.C. 13,385 302,489 0.0% Tesco P.L.C. 291,471 809,120 0.1% * Thomas Cook Group P.L.C. 420,590 837,970 0.1% #* Thorntons P.L.C. 16,023 28,071 0.0% Topps Tiles P.L.C. 21,138 34,355 0.0% Travis Perkins P.L.C. 57,999 1,536,757 0.1% Tribal Group P.L.C. 1,288 3,240 0.0% Trifast P.L.C. 26,856 42,596 0.0% * Trinity Mirror P.L.C. 130,849 343,338 0.0% TT electronics P.L.C. 69,537 186,452 0.0% TUI Travel P.L.C. 120,717 771,396 0.1% Tullett Prebon P.L.C. 95,981 436,498 0.0% Tullow Oil P.L.C. 20,388 159,108 0.0% UBM P.L.C. 53,229 485,200 0.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- UNITED KINGDOM -- (Continued) UDG Healthcare P.L.C. 96,979 $ 510,618 0.0% Ultra Electronics Holdings P.L.C. 20,195 564,759 0.0% Unite Group P.L.C. (The) 43,273 295,870 0.0% United Utilities Group P.L.C. 31,519 432,071 0.0% UTV Media P.L.C. 21,346 70,906 0.0% * Vectura Group P.L.C. 105,146 198,967 0.0% Vedanta Resources P.L.C. 54,137 714,400 0.1% Vesuvius P.L.C. 119,522 816,025 0.1% Victrex P.L.C. 15,963 433,617 0.0% Vitec Group P.L.C. (The) 5,880 57,225 0.0% Vodafone Group P.L.C. 319,059 1,061,016 0.1% Vodafone Group P.L.C. Sponsored ADR 100,243 3,330,079 0.3% Volex P.L.C. 2,165 2,627 0.0% Weir Group P.L.C. (The) 23,833 871,069 0.1% WH Smith P.L.C. 34,729 627,024 0.1% Whitbread P.L.C. 16,928 1,183,284 0.1% William Hill P.L.C. 201,234 1,162,115 0.1% * Wincanton P.L.C. 20,201 47,909 0.0% WM Morrison Supermarkets P.L.C. 481,098 1,194,514 0.1% Wolseley P.L.C. 14,878 791,212 0.1% WPP P.L.C. 6,645 129,795 0.0% WPP P.L.C. Sponsored ADR 9,329 910,417 0.1% WS Atkins P.L.C. 25,531 555,071 0.0% Xaar P.L.C. 14,316 63,828 0.0% Xchanging P.L.C. 104,451 316,698 0.0% XP Power, Ltd. 621 14,088 0.0% ----------------- --------------- TOTAL UNITED KINGDOM 238,523,881 18.3% ----------------- --------------- UNITED STATES -- (0.0%) * Chaparral Gold Corp. 4,255 2,265 0.0% * Endo International P.L.C. 3,206 214,227 0.0% * Kofax, Ltd. 5,662 35,355 0.0% * McEwen Mining - Minera Andes Acquisition Corp. 4,285 5,361 0.0% ----------------- --------------- TOTAL UNITED STATES 257,208 0.0% ----------------- --------------- TOTAL COMMON STOCKS 1,297,477,052 99.4% ----------------- --------------- PREFERRED STOCKS -- (0.0%) GERMANY -- (0.0%) Porsche Automobil Holding SE 2,021 165,949 0.0% ----------------- --------------- UNITED KINGDOM -- (0.0%) Rolls-Royce Holdings P.L.C. 6,583,500 10,532 0.0% ----------------- --------------- TOTAL PREFERRED STOCKS 176,481 0.0% ----------------- --------------- RIGHTS/WARRANTS -- (0.0%) AUSTRALIA -- (0.0%) * Centrebet International, Ltd. Litigation Rights 6,648 -- 0.0% ----------------- --------------- AUSTRIA -- (0.0%) #* Intercell AG Rights 1,270 -- 0.0% ----------------- --------------- INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------------------ ----------------- --------------- FRANCE -- (0.0%) * Bigben Interactive Rights 01/31/2016 1,386 $ 47 0.0% * Groupe Fnac Rights 05/16/15 5 24 0.0% * Peugeot SA Warrants 04/29/17 73,449 111,372 0.0% ----------------- -------------- TOTAL FRANCE 111,443 0.0% ----------------- -------------- GERMANY -- (0.0%) #* Rhoen Klinikum AG Rights 11/14/14 32,851 27,664 0.0% ----------------- -------------- HONG KONG -- (0.0%) * Cheuk Nang Holdings, Ltd. Warrants 11/10/15 404 106 0.0% ----------------- -------------- ITALY -- (0.0%) * Trevi Finanziaria Industriale SpA Rights 11/06/14 21,376 23,841 0.0% ----------------- -------------- PORTUGAL -- (0.0%) * Mota-Engil SGPS SA Rights 12/31/49 22,573 -- 0.0% ----------------- -------------- SPAIN -- (0.0%) * Banco Santander SA Rights 11/03/14 514,893 98,076 0.0% * Vidrala SA Rights 11/13/14 4,838 9,446 0.0% ----------------- -------------- TOTAL SPAIN 107,522 0.0% ----------------- -------------- UNITED KINGDOM -- (0.0%) * Consort Medical P.L.C. Rights 5,166 60,121 0.0% * McBride P.L.C. Rights 1,333,332 2,133 0.0% ----------------- -------------- TOTAL UNITED KINGDOM 62,254 0.0% ----------------- -------------- TOTAL RIGHTS/WARRANTS 332,830 0.0% ----------------- -------------- VALUE+ ----------------- SECURITIES LENDING COLLATERAL -- (10.0%) (S)@ DFA Short Term Investment Fund 12,484,902 144,450,312 11.1% ----------------- -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $1,286,589,117) $ 1,442,436,675 110.5% ================= ============== INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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 $ 2,066,649 $ 89,897,055 -- $ 91,963,704 Austria -- 6,584,288 -- 6,584,288 Belgium 934,668 19,559,592 -- 20,494,260 Canada 122,439,760 4,928 -- 122,444,688 China -- 74,706 -- 74,706 Denmark -- 20,644,331 -- 20,644,331 Finland -- 27,422,047 -- 27,422,047 France 1,635,850 84,603,108 -- 86,238,958 Germany 3,636,537 71,583,442 -- 75,219,979 Greece -- -- -- -- Hong Kong 377,181 39,881,204 -- 40,258,385 Ireland 1,510,705 5,360,588 -- 6,871,293 Israel 3,514,247 6,543,566 -- 10,057,813 Italy 932,201 33,882,378 -- 34,814,579 Japan 5,424,818 278,687,723 -- 284,112,541 Netherlands 4,863,241 27,106,311 -- 31,969,552 New Zealand 3,791 6,094,800 -- 6,098,591 Norway 782,276 11,824,645 -- 12,606,921 Portugal -- 4,739,339 -- 4,739,339 Russia -- 41,460 -- 41,460 Singapore -- 17,906,031 -- 17,906,031 Spain 1,223,825 32,270,147 -- 33,493,972 Sweden -- 39,595,979 -- 39,595,979 Switzerland 4,863,620 80,178,926 -- 85,042,546 United Kingdom 41,468,468 197,055,413 -- 238,523,881 United States 221,853 35,355 -- 257,208 Preferred Stocks Germany -- 165,949 -- 165,949 United Kingdom -- 10,532 -- 10,532 Rights/Warrants Australia -- -- -- -- Austria -- -- -- -- France -- 111,443 -- 111,443 Germany -- 27,664 -- 27,664 Hong Kong -- 106 -- 106 Italy -- 23,841 -- 23,841 Portugal -- -- -- -- Spain -- 107,522 -- 107,522 United Kingdom 60,121 2,133 -- 62,254 Securities Lending Collateral -- 144,450,312 -- 144,450,312 ---------------- ---------------- ---------------- ----------------- TOTAL $ 195,959,811 $ 1,246,476,864 -- $ 1,442,436,675 ================ ================ ================ ================= EMERGING MARKETS CORE EQUITY PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2014 PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- COMMON STOCKS -- (87.8%) BRAZIL -- (6.2%) * Abril Educacao SA 407,400 $ 1,882,534 0.0% AES Tiete SA 310,770 1,875,017 0.0% Aliansce Shopping Centers SA 572,940 4,213,140 0.0% ALL - America Latina Logistica SA 2,389,193 6,525,004 0.1% Alupar Investimento SA 23,000 168,712 0.0% AMBEV SA 1,591,620 10,537,151 0.1% AMBEV SA ADR 9,300,659 62,128,402 0.4% Arezzo Industria e Comercio SA 251,631 2,913,695 0.0% * B2W Cia Digital 702,459 9,157,759 0.1% Banco Bradesco SA 2,283,970 33,641,948 0.2% Banco do Brasil SA 3,629,612 40,618,726 0.3% Banco Santander Brasil SA ADR 3,110,818 17,047,283 0.1% BB Seguridade Participacoes SA 813,575 10,853,737 0.1% Bematech SA 321,400 1,007,298 0.0% * BHG SA - Brazil Hospitality Group 127,600 921,745 0.0% BM&FBovespa SA 9,686,489 42,623,863 0.3% BR Malls Participacoes SA 1,757,317 14,109,530 0.1% Brasil Brokers Participacoes SA 881,422 1,127,551 0.0% Brasil Insurance Participacoes e Administracao SA 422,234 1,270,443 0.0% BrasilAgro - Co. Brasileira de Propriedades Agricolas 4,700 13,133 0.0% # Braskem SA Sponsored ADR 332,618 4,879,506 0.0% * Brazil Pharma SA 583,226 855,539 0.0% BRF SA 812,706 21,169,734 0.1% BRF SA ADR 1,233,685 32,137,494 0.2% * Brookfield Incorporacoes SA 2,099,133 1,337,301 0.0% CCR SA 2,540,008 18,908,189 0.1% Centrais Eletricas Brasileiras SA 868,900 2,180,088 0.0% # Centrais Eletricas Brasileiras SA ADR 130,848 515,541 0.0% # Centrais Eletricas Brasileiras SA Sponsored ADR 322,427 815,740 0.0% CETIP SA - Mercados Organizados 999,665 12,644,720 0.1% Cia Brasileira de Distribuicao ADR 196,188 8,200,658 0.1% Cia de Locacao das Americas 74,700 112,993 0.0% Cia de Saneamento Basico do Estado de Sao Paulo 588,628 4,606,831 0.0% # Cia de Saneamento Basico do Estado de Sao Paulo ADR 841,986 6,533,811 0.1% Cia de Saneamento de Minas Gerais-COPASA 391,488 4,457,754 0.0% Cia Energetica de Minas Gerais 281,113 1,702,386 0.0% # Cia Energetica de Minas Gerais Sponsored ADR 1,067,860 6,172,228 0.0% Cia Hering 994,552 10,033,400 0.1% Cia Paranaense de Energia 81,300 804,273 0.0% # Cia Paranaense de Energia Sponsored ADR 230,970 3,256,677 0.0% Cia Providencia Industria e Comercio SA 54,100 180,969 0.0% Cia Siderurgica Nacional SA 542,600 1,802,550 0.0% # Cia Siderurgica Nacional SA Sponsored ADR 3,435,178 11,267,384 0.1% Cielo SA 1,661,125 27,256,515 0.2% Contax Participacoes SA 154,050 887,786 0.0% * Cosan Logistica SA 655,006 1,097,007 0.0% Cosan SA Industria e Comercio 655,006 9,142,458 0.1% CPFL Energia SA 583,700 4,376,518 0.0% # CPFL Energia SA ADR 224,362 3,342,994 0.0% * CR2 Empreendimentos Imobiliarios SA 27,200 28,962 0.0% Cyrela Brazil Realty SA Empreendimentos e Participacoes 1,910,317 9,492,495 0.1% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- BRAZIL -- (Continued) Cyrela Commercial Properties SA Empreendimentos e Participacoes 15,734 $ 99,672 0.0% Dimed SA Distribuidora da Medicamentos 400 32,158 0.0% Direcional Engenharia SA 792,681 3,261,175 0.0% Duratex SA 1,606,361 5,774,455 0.0% EcoRodovias Infraestrutura e Logistica SA 907,179 4,054,221 0.0% EDP - Energias do Brasil SA 1,620,720 6,327,367 0.1% Embraer SA 233,006 2,251,085 0.0% # Embraer SA ADR 700,994 27,086,408 0.2% * Eneva SA 290,434 63,133 0.0% Equatorial Energia SA 1,032,944 10,538,435 0.1% Estacio Participacoes SA 1,262,300 14,612,568 0.1% Eternit SA 1,063,420 1,485,759 0.0% Even Construtora e Incorporadora SA 1,484,177 3,214,690 0.0% Ez Tec Empreendimentos e Participacoes SA 257,080 2,199,600 0.0% * Fertilizantes Heringer SA 164,008 414,256 0.0% * Fibria Celulose SA 483,242 5,853,639 0.0% #* Fibria Celulose SA Sponsored ADR 1,146,541 14,022,196 0.1% Fleury SA 382,793 2,540,734 0.0% * Forjas Taurus SA 12,263 3,522 0.0% Fras-Le SA 6,000 10,315 0.0% Gafisa SA 714,800 779,686 0.0% # Gafisa SA ADR 1,410,877 3,019,277 0.0% * General Shopping Brasil SA 177,200 481,582 0.0% Gerdau SA 611,482 2,266,713 0.0% # Gerdau SA Sponsored ADR 3,918,964 17,752,907 0.1% # Gol Linhas Aereas Inteligentes SA ADR 132,200 683,474 0.0% Grendene SA 434,838 3,068,854 0.0% Guararapes Confeccoes SA 31,432 1,179,699 0.0% Helbor Empreendimentos SA 1,009,969 2,468,115 0.0% * Hypermarcas SA 1,857,266 12,958,730 0.1% * IdeiasNet SA 14,400 9,438 0.0% Iguatemi Empresa de Shopping Centers SA 462,244 4,679,961 0.0% Industrias Romi SA 96,608 134,142 0.0% International Meal Co. Holdings SA 369,476 2,640,496 0.0% Iochpe-Maxion SA 441,569 3,039,354 0.0% Itau Unibanco Holding SA 767,435 10,122,219 0.1% JBS SA 3,951,261 17,611,033 0.1% JHSF Participacoes SA 530,529 674,436 0.0% Joao Fortes Engenharia SA 20,369 40,976 0.0% JSL SA 402,918 2,209,956 0.0% Kepler Weber SA 95,004 1,780,882 0.0% Klabin SA 2,758,395 13,636,684 0.1% Kroton Educacional SA 4,546,344 32,393,995 0.2% Light SA 530,196 4,357,087 0.0% Localiza Rent a Car SA 610,460 8,794,606 0.1% * Log-in Logistica Intermodal SA 396,879 765,256 0.0% Lojas Americanas SA 771,687 3,788,012 0.0% Lojas Renner SA 367,432 10,983,709 0.1% LPS Brasil Consultoria de Imoveis SA 389,180 1,335,259 0.0% M Dias Branco SA 141,085 5,482,508 0.0% Magnesita Refratarios SA 823,561 980,901 0.0% Mahle-Metal Leve SA Industria e Comercio 247,100 2,331,232 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- BRAZIL -- (Continued) Marcopolo SA 24,800 $ 42,482 0.0% * Marfrig Global Foods SA 1,762,920 4,311,026 0.0% Marisa Lojas SA 252,056 1,595,156 0.0% Mills Estruturas e Servicos de Engenharia SA 520,190 3,393,721 0.0% * Minerva SA 877,185 4,514,031 0.0% MRV Engenharia e Participacoes SA 2,752,487 9,103,886 0.1% Multiplan Empreendimentos Imobiliarios SA 339,560 7,020,156 0.1% Multiplus SA 360,948 5,061,059 0.0% Natura Cosmeticos SA 842,900 12,246,725 0.1% Odontoprev SA 1,549,596 5,598,576 0.0% Oi SA 3,005,297 1,662,082 0.0% # Oi SA ADR(670851104) 136,542 81,925 0.0% # Oi SA ADR(670851203) 2,015,083 1,067,994 0.0% * Paranapanema SA 1,513,131 1,376,627 0.0% * PDG Realty SA Empreendimentos e Participacoes 10,042,401 4,945,389 0.0% Petroleo Brasileiro SA 1,061,101 6,252,035 0.0% Petroleo Brasileiro SA ADR 3,836,209 44,883,645 0.3% Porto Seguro SA 654,952 7,855,360 0.1% Portobello SA 150,900 280,908 0.0% Positivo Informatica SA 119,700 104,812 0.0% Profarma Distribuidora de Produtos Farmaceuticos SA 138,300 608,143 0.0% * Prumo Logistica SA 433,350 98,244 0.0% QGEP Participacoes SA 551,100 2,002,029 0.0% * Qualicorp SA 750,368 7,631,665 0.1% Raia Drogasil SA 889,325 8,064,393 0.1% Redentor Energia SA 100 233 0.0% * Restoque Comercio e Confeccoes de Roupas SA 609,423 2,089,666 0.0% Rodobens Negocios Imobiliarios SA 142,921 575,545 0.0% * Rossi Residencial SA 2,481,715 982,672 0.0% Santos Brasil Participacoes SA 374,045 2,376,209 0.0% Sao Carlos Empreendimentos e Participacoes SA 8,800 118,620 0.0% Sao Martinho SA 328,587 5,168,903 0.0% SLC Agricola SA 440,724 3,006,214 0.0% Smiles SA 43,000 743,153 0.0% Sonae Sierra Brasil SA 183,218 1,323,534 0.0% Souza Cruz SA 1,149,100 9,274,120 0.1% * Springs Global Participacoes SA 238,680 66,396 0.0% Sul America SA 1,337,710 7,100,666 0.1% * T4F Entretenimento SA 93,900 106,208 0.0% Technos SA 101,016 400,059 0.0% Tecnisa SA 808,495 1,607,872 0.0% Tegma Gestao Logistica 201,100 1,475,618 0.0% # Telefonica Brasil SA ADR 401,855 8,213,916 0.1% Tempo Participacoes SA 252,297 534,628 0.0% Tereos Internacional SA 106,388 90,787 0.0% Tim Participacoes SA 847,344 4,606,273 0.0% Tim Participacoes SA ADR 276,754 7,616,270 0.1% Totvs SA 722,470 10,530,195 0.1% TPI - Triunfo Participacoes e Investimentos SA 168,927 398,195 0.0% Tractebel Energia SA 628,539 8,556,392 0.1% Transmissora Alianca de Energia Eletrica SA 1,338,273 9,945,567 0.1% Trisul SA 51,685 76,133 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- BRAZIL -- (Continued) Ultrapar Participacoes SA 1,271,382 $ 27,707,530 0.2% Ultrapar Participacoes SA Sponsored ADR 70,925 1,539,072 0.0% UNICASA Industria de Moveis SA 76,300 87,818 0.0% * Usinas Siderurgicas de Minas Gerais SA 258,044 687,878 0.0% Vale SA 711,200 7,173,658 0.1% # Vale SA Sponsored ADR 3,602,651 36,350,749 0.2% Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao S.A 363,129 5,826,483 0.0% * Vanguarda Agro SA 1,428,454 708,636 0.0% WEG SA 857,911 10,122,657 0.1% ----------------- --------------- TOTAL BRAZIL 1,066,124,333 6.8% ----------------- --------------- CHILE -- (1.3%) AES Gener SA 7,511,797 4,156,393 0.0% Aguas Andinas SA Class A 11,398,986 6,823,991 0.1% Banco de Chile 20,787,181 2,539,558 0.0% # Banco de Chile ADR 61,311 4,537,014 0.0% Banco de Credito e Inversiones 147,635 8,233,478 0.1% Banco Santander Chile 4,243,634 224,987 0.0% Banco Santander Chile ADR 475,606 10,078,091 0.1% Banmedica SA 596,563 1,004,395 0.0% Besalco SA 1,451,429 976,715 0.0% CAP SA 343,366 3,267,387 0.0% Cementos BIO BIO SA 180,149 165,238 0.0% Cencosud SA 3,431,199 9,805,767 0.1% Cencosud SA ADR 3,035 27,406 0.0% Cia Cervecerias Unidas SA 156,311 1,641,479 0.0% # Cia Cervecerias Unidas SA ADR 146,188 3,115,266 0.0% Cia General de Electricidad SA 345,915 2,803,592 0.0% * Cia Pesquera Camanchaca SA 220,903 12,462 0.0% * Cia Sud Americana de Vapores SA 14,378,149 542,246 0.0% Cintac SA 161,631 31,322 0.0% * Clinica LAS Condes SA 309 21,239 0.0% Colbun SA 22,558,611 6,093,977 0.0% Corpbanca SA 643,442,314 8,638,581 0.1% # Corpbanca SA ADR 42,206 852,561 0.0% Cristalerias de Chile SA 59,157 427,325 0.0% Cruz Blanca Salud SA 329,718 286,362 0.0% E.CL SA 2,516,535 3,705,980 0.0% Embotelladora Andina SA Class A ADR 2,422 37,747 0.0% # Embotelladora Andina SA Class B ADR 22,399 416,845 0.0% Empresa Electrica Pilmaiquen 30,933 170,674 0.0% Empresa Nacional de Electricidad SA 4,107,553 6,392,424 0.1% # Empresa Nacional de Electricidad SA Sponsored ADR 185,188 8,644,576 0.1% * Empresas AquaChile SA 402,986 271,238 0.0% Empresas CMPC SA 5,826,735 14,200,632 0.1% Empresas COPEC SA 1,466,772 17,753,874 0.1% Empresas Hites SA 1,075,010 481,352 0.0% Empresas Iansa SA 17,399,035 619,176 0.0% * Empresas La Polar SA 1,986,927 127,857 0.0% Enersis SA 9,511,254 3,044,786 0.0% Enersis SA Sponsored ADR 1,291,214 20,388,269 0.1% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- CHILE -- (Continued) Enjoy SA 407,211 $ 48,755 0.0% ENTEL Chile SA 650,574 7,018,751 0.1% Forus SA 436,668 1,943,462 0.0% Gasco SA 30,398 221,248 0.0% Grupo Security SA 634,855 242,562 0.0% Inversiones Aguas Metropolitanas SA 2,842,433 4,303,740 0.0% Inversiones La Construccion SA 27,697 397,698 0.0% * Invexans SA 20,105,398 264,251 0.0% * Latam Airlines Group SA(B8L1G76) 105,702 1,336,978 0.0% * Latam Airlines Group SA(2518932) 121,449 1,467,802 0.0% #* Latam Airlines Group SA Sponsored ADR 839,537 10,242,351 0.1% Masisa SA 11,576,658 475,888 0.0% Molibdenos y Metales SA 84,984 665,279 0.0% * Multiexport Foods SA 2,734,356 644,332 0.0% Parque Arauco SA 4,067,164 8,345,401 0.1% PAZ Corp. SA 1,350,362 913,167 0.0% Ripley Corp. SA 4,441,735 2,423,232 0.0% SACI Falabella 1,745,800 12,756,299 0.1% Salfacorp SA 621,133 535,117 0.0% Sigdo Koppers SA 1,749,706 2,716,500 0.0% Sociedad Matriz SAAM SA 15,372,982 1,293,122 0.0% Sociedad Quimica y Minera de Chile SA Sponsored ADR 87,991 2,088,026 0.0% Socovesa SA 1,364,609 294,521 0.0% Sonda SA 2,305,566 5,611,872 0.0% * Tech Pack SA 201,054 101,498 0.0% Vina Concha y Toro SA 2,182,732 4,195,942 0.0% Vina Concha y Toro SA Sponsored ADR 26,285 988,579 0.0% Vina San Pedro Tarapaca SA 16,383,152 137,781 0.0% ----------------- --------------- TOTAL CHILE 224,236,416 1.4% ----------------- --------------- CHINA -- (14.1%) 361 Degrees International, Ltd. 3,838,000 1,098,719 0.0% # Agile Property Holdings, Ltd. 7,767,525 4,407,938 0.0% Agricultural Bank of China, Ltd. Class H 47,803,460 22,213,940 0.2% Air China, Ltd. Class H 6,816,000 4,405,238 0.0% # Ajisen China Holdings, Ltd. 1,979,000 1,363,549 0.0% * Alibaba Health Information Technology, Ltd. 4,732,000 2,949,612 0.0% * Alibaba Pictures Group, Ltd. 3,680,000 763,983 0.0% #* Aluminum Corp. of China, Ltd. ADR 246,740 2,743,749 0.0% #* Aluminum Corp. of China, Ltd. Class H 10,560,000 4,728,028 0.0% AMVIG Holdings, Ltd. 1,582,000 738,710 0.0% # Angang Steel Co., Ltd. Class H 5,921,160 4,352,969 0.0% # Anhui Conch Cement Co., Ltd. Class H 2,995,500 9,809,852 0.1% Anhui Expressway Co., Ltd. Class H 2,272,000 1,383,044 0.0% Anhui Tianda Oil Pipe Co., Ltd. 589,130 118,799 0.0% Anta Sports Products, Ltd. 3,246,000 6,371,206 0.1% # Anton Oilfield Services Group 4,602,000 978,451 0.0% # Anxin-China Holdings, Ltd. 13,373,000 1,242,411 0.0% Asia Cement China Holdings Corp. 2,603,000 1,479,047 0.0% * Asia Energy Logistics Group, Ltd. 12,180,000 212,277 0.0% # Asian Citrus Holdings, Ltd. 3,647,000 653,981 0.0% Ausnutria Dairy Corp., Ltd. 67,000 22,031 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- CHINA -- (Continued) * AVIC International Holding HK, Ltd. 5,796,000 $ 568,387 0.0% * AVIC International Holdings, Ltd. 560,000 365,323 0.0% # AviChina Industry & Technology Co., Ltd. Class H 7,645,212 5,813,644 0.1% Bank of China, Ltd. Class H 157,471,702 75,373,982 0.5% Bank of Communications Co., Ltd. Class H 19,061,618 14,243,369 0.1% # Baoxin Auto Group, Ltd. 1,198,500 916,081 0.0% Baoye Group Co., Ltd. Class H 1,460,440 877,900 0.0% BBMG Corp. Class H 5,567,702 3,936,984 0.0% Beijing Capital International Airport Co., Ltd. Class H 9,528,000 6,993,092 0.1% Beijing Capital Land, Ltd. Class H 5,746,000 1,987,574 0.0% #* Beijing Development HK, Ltd. 437,000 160,097 0.0% Beijing Enterprises Holdings, Ltd. 1,543,528 12,592,465 0.1% # Beijing Enterprises Water Group, Ltd. 10,774,469 7,700,572 0.1% # Beijing Jingneng Clean Energy Co., Ltd. Class H 3,058,000 1,361,609 0.0% # Beijing North Star Co., Ltd. Class H 3,824,000 1,154,112 0.0% #* Beijing Properties Holdings, Ltd. 2,142,967 193,559 0.0% Belle International Holdings, Ltd. 10,180,114 12,941,318 0.1% # Biostime International Holdings, Ltd. 634,500 1,436,606 0.0% # Bloomage Biotechnology Corp., Ltd. 400,000 637,799 0.0% Boer Power Holdings, Ltd. 1,024,000 1,282,141 0.0% # Bosideng International Holdings, Ltd. 15,934,157 2,343,283 0.0% Brilliance China Automotive Holdings, Ltd. 4,384,000 7,569,781 0.1% # Byd Co., Ltd. Class H 1,329,300 8,453,240 0.1% BYD Electronic International Co., Ltd. 4,359,222 5,191,674 0.0% C C Land Holdings, Ltd. 7,117,354 1,285,880 0.0% #* Carnival Group International Holdings, Ltd. 744,000 121,809 0.0% Carrianna Group Holdings Co., Ltd. 1,640,877 266,703 0.0% # CECEP COSTIN New Materials Group, Ltd. 492,000 214,739 0.0% # Central China Real Estate, Ltd. 3,248,074 746,486 0.0% # Changshouhua Food Co., Ltd. 1,543,000 1,282,723 0.0% #* Chaoda Modern Agriculture Holdings, Ltd. 5,616,910 162,890 0.0% # Chaowei Power Holdings, Ltd. 2,728,000 1,533,213 0.0% * Chigo Holding, Ltd. 22,124,000 531,120 0.0% * Chiho-Tiande Group, Ltd. 98,000 36,628 0.0% # China Aerospace International Holdings, Ltd. 10,982,600 1,599,186 0.0% China Agri-Industries Holdings, Ltd. 11,372,800 4,330,218 0.0% # China All Access Holdings, Ltd. 3,094,000 1,221,322 0.0% China Animal Healthcare, Ltd. 1,485,000 1,223,962 0.0% China Aoyuan Property Group, Ltd. 6,472,000 1,019,355 0.0% * China Automation Group, Ltd. 3,425,000 658,327 0.0% # China BlueChemical, Ltd. 8,045,122 2,856,912 0.0% * China Chengtong Development Group, Ltd. 2,718,000 189,261 0.0% # China Child Care Corp., Ltd. 2,314,000 483,749 0.0% China CITIC Bank Corp., Ltd. Class H 23,858,607 15,542,667 0.1% # China Coal Energy Co., Ltd. Class H 18,516,168 11,367,117 0.1% China Communications Construction Co., Ltd. Class H 16,467,387 12,641,736 0.1% China Communications Services Corp., Ltd. Class H 11,157,327 5,224,587 0.0% China Construction Bank Corp. Class H 195,696,302 146,008,799 0.9% #* China COSCO Holdings Co., Ltd. Class H 11,544,000 5,198,786 0.0% # China Datang Corp. Renewable Power Co., Ltd. Class H 11,047,000 1,596,150 0.0% China Dongxiang Group Co., Ltd. 12,911,888 2,367,623 0.0% #* China Dredging Environment Protection Holdings, Ltd. 2,288,000 549,251 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- CHINA -- (Continued) #* China Eastern Airlines Corp., Ltd. Class H 7,182,000 $ 2,734,467 0.0% * China Energine International Holdings, Ltd. 6,260,000 783,412 0.0% China Everbright International, Ltd. 8,832,000 12,285,695 0.1% China Everbright, Ltd. 4,496,896 8,700,908 0.1% # China Fiber Optic Network System Group, Ltd. 2,674,000 811,177 0.0% #* China Foods, Ltd. 4,396,000 1,645,074 0.0% China Galaxy Securities Co., Ltd. Class H 452,500 360,769 0.0% China Gas Holdings, Ltd. 5,958,000 10,621,487 0.1% China Glass Holdings, Ltd. 4,404,000 510,960 0.0% * China High Precision Automation Group, Ltd. 1,360,000 213,948 0.0% * China High Speed Transmission Equipment Group Co., Ltd. 6,094,007 4,803,944 0.0% # China Hongqiao Group, Ltd. 3,892,500 2,995,266 0.0% * China Household Holdings, Ltd. 10,050,000 1,218,497 0.0% * China Huiyuan Juice Group, Ltd. 3,217,000 1,282,535 0.0% China International Marine Containers Group Co., Ltd. Class H 266,900 622,000 0.0% # China ITS Holdings Co., Ltd. 2,751,096 383,246 0.0% # China Lesso Group Holdings, Ltd. 4,533,000 2,368,170 0.0% # China Life Insurance Co., Ltd. ADR 313,416 14,025,366 0.1% China Life Insurance Co., Ltd. Class H 5,510,000 16,441,679 0.1% # China Lilang, Ltd. 1,872,000 1,349,479 0.0% China Longyuan Power Group Corp., Ltd. Class H 7,079,000 7,548,952 0.1% # China Lumena New Materials Corp. 15,666,000 1,893,822 0.0% # China Medical System Holdings, Ltd. 2,928,800 5,399,818 0.0% China Mengniu Dairy Co., Ltd. 2,574,000 11,286,886 0.1% China Merchants Bank Co., Ltd. Class H 14,193,146 26,339,718 0.2% China Merchants Holdings International Co., Ltd. 3,902,393 12,335,457 0.1% #* China Metal Recycling Holdings, Ltd. 1,955,133 445,726 0.0% * China Mining Resources Group, Ltd. 7,924,900 70,541 0.0% China Minsheng Banking Corp., Ltd. Class H 17,463,800 17,543,988 0.1% China Mobile, Ltd. 3,987,000 49,711,104 0.3% # China Mobile, Ltd. Sponsored ADR 1,861,391 115,573,767 0.7% #* China Modern Dairy Holdings, Ltd. 5,582,000 2,469,970 0.0% # China Molybdenum Co., Ltd. Class H 4,585,000 2,745,869 0.0% # China National Building Material Co., Ltd. Class H 12,520,000 11,608,102 0.1% China National Materials Co., Ltd. 5,688,000 1,291,808 0.0% #* China New Town Development Co., Ltd. 5,843,677 290,489 0.0% * China Nickel Resources Holdings Co., Ltd. 3,830,000 111,971 0.0% # China Oil & Gas Group, Ltd. 22,980,000 3,681,909 0.0% # China Oilfield Services, Ltd. Class H 5,218,000 10,905,850 0.1% # China Overseas Grand Oceans Group, Ltd. 3,522,000 1,858,154 0.0% China Overseas Land & Investment, Ltd. 8,650,033 25,153,273 0.2% China Pacific Insurance Group Co., Ltd. Class H 5,611,465 21,035,193 0.1% # China Petroleum & Chemical Corp. ADR 246,852 21,471,170 0.2% China Petroleum & Chemical Corp. Class H 31,492,400 27,310,570 0.2% # China Power International Development, Ltd. 13,000,200 5,872,480 0.1% #* China Power New Energy Development Co., Ltd. 22,560,000 1,572,202 0.0% #* China Precious Metal Resources Holdings Co., Ltd. 13,461,682 1,422,292 0.0% * China Properties Group, Ltd. 2,449,000 467,296 0.0% * China Qinfa Group, Ltd. 2,670,000 115,405 0.0% China Railway Construction Corp., Ltd. Class H 8,466,687 8,949,696 0.1% China Railway Group, Ltd. Class H 9,962,000 6,132,728 0.1% #* China Rare Earth Holdings, Ltd. 7,016,000 896,051 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- CHINA -- (Continued) # China Resources Cement Holdings, Ltd. 7,800,946 $ 5,284,503 0.0% # China Resources Enterprise, Ltd. 4,418,000 10,508,181 0.1% # China Resources Gas Group, Ltd. 1,614,000 4,603,177 0.0% China Resources Land, Ltd. 5,786,681 13,748,830 0.1% China Resources Power Holdings Co., Ltd. 3,410,000 9,925,297 0.1% #* China Rongsheng Heavy Industries Group Holdings, Ltd. 17,560,000 2,804,893 0.0% * China Ruifeng Renewable Energy, Ltd. 2,796,000 506,197 0.0% # China Sanjiang Fine Chemicals Co., Ltd. 3,282,000 1,626,992 0.0% China SCE Property Holdings, Ltd. 2,563,400 505,917 0.0% # China Shanshui Cement Group, Ltd. 10,203,645 3,781,571 0.0% China Shenhua Energy Co., Ltd. Class H 8,719,500 24,519,989 0.2% China Shineway Pharmaceutical Group, Ltd. 1,729,000 3,146,420 0.0% #* China Shipping Container Lines Co., Ltd. Class H 20,233,300 5,770,454 0.1% #* China Shipping Development Co., Ltd. Class H 7,204,000 4,750,982 0.0% # China Singyes Solar Technologies Holdings, Ltd. 2,581,800 4,944,335 0.0% # China South City Holdings, Ltd. 10,122,711 4,610,908 0.0% China Southern Airlines Co., Ltd. Class H 6,660,000 2,338,516 0.0% China Southern Airlines Co., Ltd. Sponsored ADR 41,944 735,698 0.0% China Starch Holdings, Ltd. 8,270,000 202,702 0.0% China State Construction International Holdings, Ltd. 3,687,520 5,710,071 0.1% # China Suntien Green Energy Corp., Ltd. Class H 7,740,000 2,055,759 0.0% #* China Taifeng Beddings Holdings, Ltd. 1,662,000 265,999 0.0% #* China Taiping Insurance Holdings Co., Ltd. 3,714,600 7,926,213 0.1% # China Telecom Corp., Ltd. ADR 137,239 8,725,656 0.1% China Telecom Corp., Ltd. Class H 8,024,000 5,114,941 0.0% #* China Tian Lun Gas Holdings, Ltd. 615,000 709,794 0.0% China Tianyi Holdings, Ltd. 1,996,000 262,650 0.0% * China Tontine Wines Group, Ltd. 3,962,000 168,636 0.0% * China Traditional Chinese Medicine Co., Ltd. 738,000 416,061 0.0% China Travel International Investment Hong Kong, Ltd. 13,193,892 4,069,717 0.0% China Unicom Hong Kong, Ltd. 5,068,000 7,575,557 0.1% # China Unicom Hong Kong, Ltd. ADR 1,117,285 16,736,929 0.1% China Vanadium Titano - Magnetite Mining Co., Ltd. 4,955,000 504,536 0.0% # China Water Affairs Group, Ltd. 4,664,000 2,374,832 0.0% #* China Water Industry Group, Ltd. 1,440,000 282,388 0.0% * China WindPower Group, Ltd. 19,845,909 1,638,834 0.0% #* China Yurun Food Group, Ltd. 7,579,000 3,226,791 0.0% China ZhengTong Auto Services Holdings, Ltd. 4,907,500 2,780,104 0.0% # China Zhongwang Holdings, Ltd. 9,010,779 4,745,644 0.0% * Chinasoft International, Ltd. 4,892,000 1,660,441 0.0% * Chinese People Holdings Co., Ltd. 11,213,240 265,577 0.0% * Chongqing Iron & Steel Co., Ltd. Class H 2,590,000 569,092 0.0% Chongqing Machinery & Electric Co., Ltd. Class H 5,647,962 1,019,082 0.0% Chongqing Rural Commercial Bank Co., Ltd. Class H 12,371,000 5,953,694 0.1% * Chu Kong Petroleum & Natural Gas Steel Pipe Holdings, Ltd. 2,419,000 726,957 0.0% # CIMC Enric Holdings, Ltd. 2,430,000 2,446,756 0.0% * CITIC Dameng Holdings, Ltd. 935,000 75,926 0.0% * CITIC Resources Holdings, Ltd. 12,768,000 1,795,928 0.0% CITIC Securities Co., Ltd. Class H 2,868,000 7,141,306 0.1% # CITIC, Ltd. 6,532,567 11,446,176 0.1% Citychamp Watch & Jewellery Group, Ltd. 10,242,000 1,388,354 0.0% Clear Media, Ltd. 192,000 195,588 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- CHINA -- (Continued) * CNNC International, Ltd. 414,898 $ 159,075 0.0% CNOOC, Ltd. 31,447,000 49,161,651 0.3% # CNOOC, Ltd. ADR 239,300 37,419,341 0.3% * Coastal Greenland, Ltd. 3,432,000 119,545 0.0% # Comba Telecom Systems Holdings, Ltd. 5,369,180 2,463,424 0.0% #* Comtec Solar Systems Group, Ltd. 4,346,000 723,971 0.0% # Coolpad Group, Ltd. 14,392,000 3,100,365 0.0% # Cosco International Holdings, Ltd. 1,328,000 581,927 0.0% COSCO Pacific, Ltd. 8,896,623 11,730,063 0.1% * Coslight Technology International Group Co., Ltd. 480,000 308,989 0.0% Country Garden Holdings Co., Ltd. 18,503,660 7,269,672 0.1% # CP Pokphand Co., Ltd. 12,593,658 1,446,575 0.0% CPMC Holdings, Ltd. 1,325,000 999,607 0.0% CSPC Pharmaceutical Group, Ltd. 3,620,000 3,330,325 0.0% # CSR Corp., Ltd. 5,535,324 5,631,575 0.1% * DaChan Food Asia, Ltd. 1,513,087 195,136 0.0% # Dah Chong Hong Holdings, Ltd. 4,428,000 2,611,372 0.0% # Dalian Port PDA Co., Ltd. Class H 5,986,000 2,092,883 0.0% DaMing International Holdings, Ltd. 34,000 12,156 0.0% # Daphne International Holdings, Ltd. 5,196,000 2,615,622 0.0% # Datang International Power Generation Co., Ltd. Class H 8,690,000 4,562,092 0.0% Dawnrays Pharmaceutical Holdings, Ltd. 1,369,491 1,360,955 0.0% #* DBA Telecommunication Asia Holdings, Ltd. 1,020,000 50,111 0.0% Digital China Holdings, Ltd. 4,070,000 3,787,782 0.0% # Dongfang Electric Corp., Ltd. Class H 1,165,800 1,972,629 0.0% Dongfeng Motor Group Co., Ltd. Class H 7,834,000 12,114,948 0.1% Dongjiang Environmental Co., Ltd. Class H 51,198 202,988 0.0% # Dongyue Group, Ltd. 6,374,000 2,389,456 0.0% #* Dynasty Fine Wines Group, Ltd. 1,708,000 59,465 0.0% Embry Holdings, Ltd. 509,000 256,362 0.0% ENN Energy Holdings, Ltd. 2,038,000 13,170,780 0.1% EVA Precision Industrial Holdings, Ltd. 5,630,516 1,512,285 0.0% * EverChina International Holdings Co., Ltd. 17,127,500 939,050 0.0% # Evergrande Real Estate Group, Ltd. 28,882,000 11,098,719 0.1% Evergreen International Holdings, Ltd. 1,091,000 133,704 0.0% * Extrawell Pharmaceutical Holdings, Ltd. 6,642,079 290,773 0.0% # Fantasia Holdings Group Co., Ltd. 9,461,519 1,012,642 0.0% #* FDG Electric Vehicles, Ltd. 13,380,000 948,918 0.0% # First Tractor Co., Ltd. Class H 2,154,000 1,379,219 0.0% # Fosun International, Ltd. 6,267,285 7,433,988 0.1% Franshion Properties China, Ltd. 20,140,976 4,780,487 0.0% # Fufeng Group, Ltd. 5,082,800 2,387,592 0.0% #* GCL-Poly Energy Holdings, Ltd. 33,132,320 11,166,333 0.1% # Geely Automobile Holdings, Ltd. 29,730,000 13,270,226 0.1% * Global Bio-Chem Technology Group Co., Ltd. 10,533,600 400,945 0.0% * Global Sweeteners Holdings, Ltd. 1,750,699 89,044 0.0% * Glorious Property Holdings, Ltd. 14,327,712 2,069,791 0.0% Goldbond Group Holdings, Ltd. 650,000 27,667 0.0% # Golden Eagle Retail Group, Ltd. 2,287,000 2,803,698 0.0% # Golden Meditech Holdings, Ltd. 3,831,809 627,454 0.0% Goldlion Holdings, Ltd. 852,866 357,432 0.0% GOME Electrical Appliances Holding, Ltd. 56,205,660 8,854,949 0.1% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- CHINA -- (Continued) Good Friend International Holdings, Inc. 487,333 $ 159,407 0.0% # Goodbaby International Holdings, Ltd. 2,541,000 1,024,418 0.0% # Great Wall Motor Co., Ltd. Class H 2,432,750 10,675,380 0.1% # Greatview Aseptic Packaging Co., Ltd. 1,754,000 1,149,003 0.0% # Greenland Hong Kong Holdings, Ltd. 1,497,275 603,182 0.0% # Greentown China Holdings, Ltd. 3,479,500 3,620,658 0.0% Guangdong Investment, Ltd. 6,708,000 8,806,558 0.1% * Guangdong Land Holdings, Ltd. 2,823,361 600,635 0.0% Guangshen Railway Co., Ltd. Class H 4,242,000 1,821,964 0.0% Guangshen Railway Co., Ltd. Sponsored ADR 69,174 1,476,865 0.0% Guangzhou Automobile Group Co., Ltd. Class H 8,373,480 7,439,312 0.1% # Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd. Class H 504,000 1,722,520 0.0% # Guangzhou R&F Properties Co., Ltd. 4,977,932 5,429,414 0.0% Guangzhou Shipyard International Co., Ltd. Class H 530,000 700,502 0.0% # Guodian Technology & Environment Group Corp., Ltd. Class H 2,974,000 606,449 0.0% Haier Electronics Group Co., Ltd. 2,542,000 6,816,417 0.1% Hainan Meilan International Airport Co., Ltd. Class H 596,000 463,567 0.0% # Haitian International Holdings, Ltd. 1,424,000 3,036,232 0.0% # Hanergy Thin Film Power Group, Ltd. 48,496,000 11,064,891 0.1% Harbin Electric Co., Ltd. Class H 4,400,587 2,655,810 0.0% Henderson Investment, Ltd. 377,000 35,026 0.0% #* Heng Tai Consumables Group, Ltd. 18,666,383 274,346 0.0% Hengan International Group Co., Ltd. 1,355,622 14,254,314 0.1% # Hengdeli Holdings, Ltd. 10,988,800 1,768,633 0.0% #* Hi Sun Technology China, Ltd. 624,000 194,672 0.0% #* Hidili Industry International Development, Ltd. 5,587,000 605,644 0.0% # Hilong Holding, Ltd. 2,522,000 813,025 0.0% * Hisense Kelon Electrical Holdings Co., Ltd. Class H 1,924,000 1,719,607 0.0% #* HKC Holdings, Ltd. 19,752,210 484,326 0.0% # Honghua Group, Ltd. 5,332,000 1,031,759 0.0% Hopefluent Group Holdings, Ltd. 515,973 153,107 0.0% # Hopewell Highway Infrastructure, Ltd. 3,852,528 1,863,187 0.0% #* Hopson Development Holdings, Ltd. 3,550,000 3,159,130 0.0% # Hua Han Bio-Pharmaceutical Holdings, Ltd. 11,701,135 4,181,579 0.0% * Hua Lien International Holding Co., Ltd. 558,000 32,372 0.0% # Huabao International Holdings, Ltd. 10,678,986 7,636,060 0.1% Huadian Power International Corp., Ltd. Class H 5,604,000 4,295,081 0.0% Huaneng Power International, Inc. Class H 1,434,000 1,761,166 0.0% # Huaneng Power International, Inc. Sponsored ADR 106,517 5,277,917 0.0% # Huaneng Renewables Corp., Ltd. Class H 12,414,000 4,458,542 0.0% * Huili Resources Group, Ltd. 348,000 53,890 0.0% #* Hunan Nonferrous Metal Corp., Ltd. Class H 8,890,000 2,854,374 0.0% # Hutchison Harbour Ring, Ltd. 1,932,000 176,960 0.0% Industrial & Commercial Bank of China, Ltd. Class H 200,441,725 132,825,859 0.9% Inspur International, Ltd. 2,180,000 554,865 0.0% # Intime Retail Group Co., Ltd. 4,260,500 3,693,941 0.0% Jiangsu Expressway Co., Ltd. Class H 3,082,000 3,454,620 0.0% Jiangxi Copper Co., Ltd. Class H 4,924,000 8,721,003 0.1% * Jinchuan Group International Resources Co., Ltd. 1,141,000 114,820 0.0% Jingwei Textile Machinery Class H 1,000,000 1,003,693 0.0% # Ju Teng International Holdings, Ltd. 4,656,090 2,603,521 0.0% Jutal Offshore Oil Services, Ltd. 1,186,000 363,885 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- CHINA -- (Continued) * Kai Yuan Holdings, Ltd. 16,790,000 $ 221,897 0.0% # Kaisa Group Holdings, Ltd. 9,772,684 3,619,217 0.0% Kasen International Holdings, Ltd. 314,000 44,627 0.0% Kingboard Chemical Holdings, Ltd. 3,706,166 7,253,865 0.1% Kingboard Laminates Holdings, Ltd. 4,971,984 2,027,572 0.0% #* Kingdee International Software Group Co., Ltd. 5,767,600 1,892,183 0.0% # Kingsoft Corp., Ltd. 2,757,000 6,481,174 0.1% Kunlun Energy Co., Ltd. 10,436,000 13,879,850 0.1% KWG Property Holding, Ltd. 6,613,144 4,592,112 0.0% #* Labixiaoxin Snacks Group, Ltd. 2,192,000 293,776 0.0% Lai Fung Holdings, Ltd. 24,807,000 531,909 0.0% Le Saunda Holdings, Ltd. 1,218,000 612,885 0.0% Lee & Man Chemical Co., Ltd. 821,339 513,759 0.0% # Lee & Man Paper Manufacturing, Ltd. 7,199,200 3,941,471 0.0% # Lenovo Group, Ltd. 14,846,000 21,921,388 0.2% * Leoch International Technology, Ltd. 907,000 168,389 0.0% #* Li Ning Co., Ltd. 4,090,000 2,157,685 0.0% #* Lianhua Supermarket Holdings Co., Ltd. Class H 2,030,200 1,007,661 0.0% # Lijun International Pharmaceutical Holding Co., Ltd. 7,206,000 3,507,870 0.0% #* Lingbao Gold Co., Ltd. Class H 1,494,000 240,530 0.0% * LK Technology Holdings, Ltd. 712,500 68,775 0.0% Longfor Properties Co., Ltd. 5,218,000 6,059,810 0.1% Lonking Holdings, Ltd. 11,388,000 1,953,481 0.0% * Loudong General Nice Resources China Holdings, Ltd. 5,239,309 344,607 0.0% #* Maanshan Iron & Steel Co., Ltd. Class H 9,296,000 2,411,896 0.0% * Madex International Holdings, Ltd. 3,520,000 105,883 0.0% Maoye International Holdings, Ltd. 7,100,000 1,098,171 0.0% Metallurgical Corp. of China, Ltd. Class H 12,523,000 3,438,662 0.0% #* Microport Scientific Corp. 1,233,000 625,336 0.0% MIE Holdings Corp. 4,960,000 685,003 0.0% MIN XIN Holdings, Ltd. 596,000 360,441 0.0% #* Mingfa Group International Co., Ltd. 4,982,000 1,386,448 0.0% * Mingyuan Medicare Development Co., Ltd. 4,480,000 147,329 0.0% # Minmetals Land, Ltd. 6,023,644 698,592 0.0% Minth Group, Ltd. 2,171,000 4,167,676 0.0% # MMG, Ltd. 9,112,000 3,060,461 0.0% MOBI Development Co., Ltd. 34,000 7,854 0.0% * Nan Hai Corp., Ltd. 61,300,000 348,474 0.0% Nature Home Holding Co., Ltd. 654,000 99,763 0.0% # NetDragon Websoft, Inc. 613,956 1,047,043 0.0% New China Life Insurance Co., Ltd. Class H 1,603,200 6,009,801 0.1% New World China Land, Ltd. 10,199,700 6,187,351 0.1% # New World Department Store China, Ltd. 2,186,538 789,280 0.0% # Nine Dragons Paper Holdings, Ltd. 9,105,000 7,045,422 0.1% #* North Mining Shares Co., Ltd. 10,000,000 463,892 0.0% # NVC Lighting Holdings, Ltd. 7,356,000 1,688,385 0.0% * O-Net Communications Group, Ltd. 1,503,000 410,891 0.0% Overseas Chinese Town Asia Holdings, Ltd. 357,817 133,804 0.0% Pacific Online, Ltd. 1,243,195 673,763 0.0% # Parkson Retail Group, Ltd. 6,360,500 1,870,987 0.0% #* PAX Global Technology, Ltd. 577,000 619,727 0.0% Peak Sport Products Co., Ltd. 3,192,000 955,149 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- CHINA -- (Continued) # PetroChina Co., Ltd. ADR 229,733 $ 28,831,492 0.2% PetroChina Co., Ltd. Class H 23,340,000 29,250,453 0.2% # Phoenix Satellite Television Holdings, Ltd. 4,950,000 1,526,149 0.0% PICC Property & Casualty Co., Ltd. Class H 7,406,360 13,586,508 0.1% Ping An Insurance Group Co. of China, Ltd. Class H 2,990,500 24,446,525 0.2% # Poly Property Group Co., Ltd. 11,116,068 4,306,191 0.0% # Ports Design, Ltd. 1,736,000 602,020 0.0% * Pou Sheng International Holdings, Ltd. 3,881,609 355,749 0.0% * Powerlong Real Estate Holdings, Ltd. 5,528,715 769,395 0.0% * Prosperity International Holdings HK, Ltd. 4,900,000 173,824 0.0% Qingling Motors Co., Ltd. Class H 1,688,000 537,677 0.0% * Qunxing Paper Holdings Co., Ltd. 854,211 41,636 0.0% * Real Gold Mining, Ltd. 640,000 21,704 0.0% Real Nutriceutical Group, Ltd. 4,279,000 1,457,502 0.0% #* Renhe Commercial Holdings Co., Ltd. 64,491,077 2,579,086 0.0% # REXLot Holdings, Ltd. 41,293,724 4,261,962 0.0% # Road King Infrastructure, Ltd. 1,179,000 1,022,254 0.0% Samson Holding, Ltd. 4,377,000 559,103 0.0% #* Sany Heavy Equipment International Holdings Co., Ltd. 4,530,500 1,004,167 0.0% Sateri Holdings, Ltd. 23,000 6,957 0.0% Scud Group, Ltd. 1,110,000 168,983 0.0% #* Semiconductor Manufacturing International Corp. 98,446,955 10,206,664 0.1% * Semiconductor Manufacturing International Corp. ADR 173,964 894,175 0.0% Shandong Chenming Paper Holdings, Ltd. Class H 1,952,022 902,825 0.0% * Shandong Molong Petroleum Machinery Co., Ltd. Class H 946,528 536,144 0.0% Shandong Weigao Group Medical Polymer Co., Ltd. Class H 3,088,000 3,122,694 0.0% # Shanghai Electric Group Co., Ltd. Class H 10,286,000 5,166,754 0.0% Shanghai Fosun Pharmaceutical Group Co., Ltd. Class H 618,000 2,224,981 0.0% Shanghai Industrial Holdings, Ltd. 2,523,000 7,762,951 0.1% #* Shanghai Industrial Urban Development Group, Ltd. 8,157,025 1,505,447 0.0% Shanghai Jin Jiang International Hotels Group Co., Ltd. Class H 7,004,000 2,403,628 0.0% Shanghai Pharmaceuticals Holding Co., Ltd. Class H 2,017,700 5,049,385 0.0% Shanghai Prime Machinery Co., Ltd. Class H 1,820,000 349,003 0.0% * Shanghai Zendai Property, Ltd. 6,120,000 82,827 0.0% Shengli Oil & Gas Pipe Holdings, Ltd. 5,242,500 310,621 0.0% Shenguan Holdings Group, Ltd. 3,748,000 1,059,875 0.0% Shenzhen Expressway Co., Ltd. Class H 3,204,000 2,049,837 0.0% Shenzhen International Holdings, Ltd. 4,657,885 7,402,525 0.1% Shenzhen Investment, Ltd. 15,445,749 4,461,403 0.0% Shenzhou International Group Holdings, Ltd. 1,081,000 3,718,142 0.0% Shimao Property Holdings, Ltd. 6,068,683 13,076,895 0.1% #* Shougang Concord International Enterprises Co., Ltd. 24,674,100 1,145,693 0.0% # Shougang Fushan Resources Group, Ltd. 17,696,461 4,062,862 0.0% Shui On Land, Ltd. 19,981,276 4,587,267 0.0% * Shunfeng Photovoltaic International, Ltd. 1,668,000 1,396,580 0.0% Sichuan Expressway Co., Ltd. Class H 4,116,000 1,587,408 0.0% Sihuan Pharmaceutical Holdings Group, Ltd. 13,934,000 11,162,250 0.1% * Sijia Group Co. 893,399 29,607 0.0% Silver Grant International Industries, Ltd. 4,466,000 610,456 0.0% * SIM Technology Group, Ltd. 5,367,000 301,488 0.0% Sino Biopharmaceutical, Ltd. 8,963,999 9,013,288 0.1% #* Sino Oil And Gas Holdings, Ltd. 53,867,234 1,402,132 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- CHINA -- (Continued) # Sino-Ocean Land Holdings, Ltd. 18,491,462 $ 10,501,288 0.1% #* Sinofert Holdings, Ltd. 11,832,673 1,802,140 0.0% #* Sinolink Worldwide Holdings, Ltd. 3,813,492 310,041 0.0% # SinoMedia Holding, Ltd. 1,167,258 724,220 0.0% # Sinopec Kantons Holdings, Ltd. 3,422,000 2,833,507 0.0% Sinopec Shanghai Petrochemical Co., Ltd. Class H 4,443,000 1,377,542 0.0% Sinopec Shanghai Petrochemical Co., Ltd. Sponsored ADR 39,923 1,238,795 0.0% * Sinopec Yizheng Chemical Fibre Co., Ltd. Class H 1,074,999 475,099 0.0% # Sinopharm Group Co., Ltd. Class H 2,857,200 11,217,162 0.1% #* Sinotrans Shipping, Ltd. 7,724,500 2,112,898 0.0% Sinotrans, Ltd. Class H 7,912,000 6,278,206 0.1% Sinotruk Hong Kong, Ltd. 3,827,500 1,988,898 0.0% SITC International Holdings Co., Ltd. 2,068,000 1,101,619 0.0% # Skyworth Digital Holdings, Ltd. 10,023,788 5,482,504 0.1% SMI Corp., Ltd. 14,456,000 559,758 0.0% SOHO China, Ltd. 8,469,339 6,203,952 0.1% * Solargiga Energy Holdings, Ltd. 9,232,000 495,118 0.0% * Sparkle Roll Group, Ltd. 6,520,000 290,041 0.0% Springland International Holdings, Ltd. 1,529,000 584,769 0.0% # SPT Energy Group, Inc. 2,996,000 943,877 0.0% SRE Group, Ltd. 14,737,714 419,955 0.0% # Sun Art Retail Group, Ltd. 4,579,500 4,909,361 0.0% Sun King Power Electronics Group 118,000 12,963 0.0% Sunac China Holdings, Ltd. 8,054,000 6,994,335 0.1% # Sunny Optical Technology Group Co., Ltd. 2,611,000 4,238,670 0.0% #* Superb Summit International Group, Ltd. 1,350,000 290,893 0.0% TCC International Holdings, Ltd. 5,291,997 2,149,733 0.0% # TCL Communication Technology Holdings, Ltd. 2,429,100 2,385,781 0.0% #* TCL Multimedia Technology Holdings, Ltd. 3,145,200 1,115,414 0.0% Tencent Holdings, Ltd. 9,231,600 148,372,706 1.0% Tenfu Cayman Holdings Co., Ltd. 101,000 37,252 0.0% # Texhong Textile Group, Ltd. 1,839,500 1,254,842 0.0% Tian An China Investment Co., Ltd. 896,357 601,259 0.0% Tian Shan Development Holding, Ltd. 1,238,000 531,702 0.0% # Tiangong International Co., Ltd. 6,274,056 1,602,433 0.0% Tianjin Capital Environmental Protection Group Co., Ltd. Class H 1,310,000 934,728 0.0% Tianjin Development Hldgs, Ltd. 1,873,800 1,622,002 0.0% * Tianjin Jinran Public Utilities Co., Ltd. Class H 2,010,000 402,855 0.0% Tianjin Port Development Holdings, Ltd. 10,343,200 2,334,927 0.0% Tianneng Power International, Ltd. 3,937,952 1,408,645 0.0% # Tibet 5100 Water Resources Holdings, Ltd. 2,339,000 835,399 0.0% Tingyi Cayman Islands Holding Corp. 3,742,000 9,260,851 0.1% # Tomson Group, Ltd. 1,062,448 280,675 0.0% # Tong Ren Tang Technologies Co., Ltd. Class H 1,996,000 2,702,851 0.0% Tongda Group Holdings, Ltd. 9,100,000 1,185,997 0.0% Tonly Electronics Holdings, Ltd. 268,720 229,851 0.0% Towngas China Co., Ltd. 3,853,000 4,035,640 0.0% # TPV Technology, Ltd. 3,810,578 747,697 0.0% Travelsky Technology, Ltd. Class H 3,595,938 3,752,722 0.0% # Trigiant Group, Ltd. 3,272,000 792,575 0.0% * Trony Solar Holdings Co., Ltd. 2,133,000 32,455 0.0% # Truly International Holdings, Ltd. 5,669,000 2,866,899 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- CHINA -- (Continued) Tsingtao Brewery Co., Ltd. Class H 530,000 $ 3,907,602 0.0% # Uni-President China Holdings, Ltd. 3,649,308 3,374,847 0.0% #* United Energy Group, Ltd. 9,287,550 1,436,013 0.0% #* V1 Group, Ltd. 19,290,600 2,042,543 0.0% Wanguo International Mining Group, Ltd. 58,000 18,693 0.0% # Want Want China Holdings, Ltd. 12,330,000 16,741,972 0.1% Wasion Group Holdings, Ltd. 2,504,000 2,616,677 0.0% # Weichai Power Co., Ltd. Class H 1,646,280 6,319,531 0.1% Weiqiao Textile Co. Class H 2,412,000 1,203,967 0.0% Welling Holding, Ltd. 5,670,000 1,229,212 0.0% # West China Cement, Ltd. 14,894,000 1,479,500 0.0% * Winsway Enterprises Holdings, Ltd. 8,131,000 372,411 0.0% World Wide Touch Technology Holdings, Ltd. 4,692,000 169,417 0.0% # Wumart Stores, Inc. Class H 1,291,000 1,118,342 0.0% Xiamen International Port Co., Ltd. Class H 5,097,338 1,341,670 0.0% Xiao Nan Guo Restaurants Holdings, Ltd. 326,000 45,015 0.0% Xingda International Holdings, Ltd. 4,868,000 1,685,050 0.0% Xinhua Winshare Publishing and Media Co., Ltd. Class H 786,000 734,673 0.0% # Xinjiang Goldwind Science & Technology Co., Ltd. Class H 2,090,600 3,752,033 0.0% * Xinjiang Xinxin Mining Industry Co., Ltd. Class H 3,677,000 791,488 0.0% #* Xiwang Property Holdings Co., Ltd. 1,750,005 99,290 0.0% Xiwang Special Steel Co., Ltd. 990,000 138,917 0.0% XTEP International Holdings, Ltd. 3,155,500 1,409,193 0.0% * Yanchang Petroleum International, Ltd. 18,410,000 939,184 0.0% # Yanzhou Coal Mining Co., Ltd. Class H 6,654,000 5,635,209 0.1% # Yanzhou Coal Mining Co., Ltd. Sponsored ADR 214,102 1,800,598 0.0% # Yingde Gases Group Co., Ltd. 3,946,500 3,081,593 0.0% Yip's Chemical Holdings, Ltd. 1,318,000 883,676 0.0% Youyuan International Holdings, Ltd. 941,600 215,952 0.0% Yuanda China Holdings, Ltd. 4,226,000 262,121 0.0% # Yuexiu Property Co., Ltd. 37,485,784 6,961,887 0.1% # Yuexiu Transport Infrastructure, Ltd. 3,011,415 1,821,149 0.0% # Yuzhou Properties Co., Ltd. 4,780,800 1,110,464 0.0% * Zall Development Group, Ltd. 2,023,000 732,972 0.0% # Zhaojin Mining Industry Co., Ltd. 3,922,166 2,071,454 0.0% Zhejiang Expressway Co., Ltd. Class H 5,928,000 5,977,576 0.1% Zhengzhou Coal Mining Machinery Group Co., Ltd. Class H 555,000 368,643 0.0% # Zhong An Real Estate, Ltd. 4,362,444 500,745 0.0% # Zhongsheng Group Holdings, Ltd. 1,896,000 1,950,262 0.0% # Zhuzhou CSR Times Electric Co., Ltd. Class H 1,355,250 5,828,074 0.1% # Zijin Mining Group Co., Ltd. Class H 16,988,000 4,349,963 0.0% # Zoomlion Heavy Industry Science and Technology Co., Ltd. 5,984,400 2,878,810 0.0% # ZTE Corp. Class H 1,801,460 4,350,021 0.0% ----------------- --------------- TOTAL CHINA 2,413,718,110 15.4% ----------------- --------------- COLOMBIA -- (0.5%) Almacenes Exito SA 728,606 10,276,620 0.1% Banco de Bogota SA 48,447 1,601,165 0.0% Bancolombia SA 531,366 7,282,878 0.1% Bancolombia SA Sponsored ADR 324,032 18,330,490 0.1% Bolsa de Valores de Colombia 2,403,206 25,697 0.0% Celsia SA ESP 59,263 172,821 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- COLOMBIA -- (Continued) Cementos Argos SA 1,260,016 $ 6,430,215 0.1% * Cemex Latam Holdings SA 409,747 3,656,357 0.0% Constructora Conconcreto SA 19,345 13,868 0.0% * Corp. Financiera Colombiana 804 14,849 0.0% Corp. Financiera Colombiana SA 29,478 580,247 0.0% Ecopetrol SA 840,865 1,123,878 0.0% # Ecopetrol SA Sponsored ADR 420,832 11,278,298 0.1% Empresa de Energia de Bogota SA ESP 2,825,801 2,238,666 0.0% Empresa de Telecomunicaciones de Bogota 885,214 232,328 0.0% * Fabricato SA 9,525,507 62,037 0.0% Grupo Aval Acciones y Valores 1,103,692 740,265 0.0% Grupo de Inversiones Suramericana SA 45,486 945,755 0.0% Grupo Nutresa SA 95,924 1,296,081 0.0% Grupo Odinsa SA 10,651 40,325 0.0% Interconexion Electrica SA ESP 1,307,366 5,591,651 0.0% Isagen SA ESP 3,838,190 5,055,405 0.0% Mineros SA 17,511 23,703 0.0% ----------------- --------------- TOTAL COLOMBIA 77,013,599 0.5% ----------------- --------------- CZECH REPUBLIC -- (0.2%) CEZ A.S. 519,225 14,362,885 0.1% Fortuna Entertainment Group NV 51,763 282,756 0.0% Komercni Banka A.S. 68,296 14,631,832 0.1% # O2 Czech Republic AS 476,865 5,327,534 0.0% Pegas Nonwovens SA 52,502 1,501,857 0.0% Philip Morris CR A.S. 2,089 927,209 0.0% * Unipetrol A.S. 201,723 1,180,026 0.0% ----------------- --------------- TOTAL CZECH REPUBLIC 38,214,099 0.2% ----------------- --------------- EGYPT -- (0.1%) Commercial International Bank Egypt S.A.E. GDR 1,097,765 7,494,974 0.1% * Egyptian Financial Group-Hermes Holding GDR 13,261 59,758 0.0% * Global Telecom Holding SAE GDR 1,219,992 3,654,736 0.0% ----------------- --------------- TOTAL EGYPT 11,209,468 0.1% ----------------- --------------- GREECE -- (0.4%) Aegean Airlines SA 183,158 1,595,613 0.0% * Alpha Bank AE 9,023,668 5,882,687 0.1% * Astir Palace Hotel SA 41,272 195,989 0.0% Athens Water Supply & Sewage Co. SA (The) 47,112 325,369 0.0% * Attica Bank SA 385,386 29,949 0.0% * Corinth Pipeworks SA 20,472 33,453 0.0% * Ellaktor SA 37,549 105,990 0.0% Elval - Hellenic Aluminium Industry SA 3,461 5,167 0.0% FF Group 168,264 5,506,997 0.0% * Fourlis Holdings SA 112,295 441,699 0.0% * Frigoglass SA 76,998 213,221 0.0% * GEK Terna Holding Real Estate Construction SA 107,393 274,806 0.0% Hellenic Exchanges - Athens Stock Exchange SA Holding 357,279 2,403,988 0.0% * Hellenic Petroleum SA 519,096 2,665,343 0.0% * Hellenic Telecommunications Organization SA 1,052,823 11,891,188 0.1% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- GREECE -- (Continued) * Intracom Holdings SA 321,392 $ 161,540 0.0% * Intralot SA-Integrated Lottery Systems & Services 528,895 749,107 0.0% JUMBO SA 509,877 5,591,141 0.0% * Lamda Development SA 23,136 97,126 0.0% * Marfin Investment Group Holdings SA 4,779,275 1,263,285 0.0% Metka SA 94,263 921,823 0.0% Motor Oil Hellas Corinth Refineries SA 228,312 1,672,600 0.0% * Mytilineos Holdings SA 53,544 344,803 0.0% * National Bank of Greece SA 1,274,300 3,073,737 0.0% #* National Bank of Greece SA ADR 797,946 1,939,009 0.0% OPAP SA 740,812 8,974,896 0.1% * Piraeus Bank SA 5,755,120 8,369,228 0.1% Piraeus Port Authority 10,567 162,911 0.0% * Public Power Corp. SA 529,775 4,024,305 0.0% Sarantis SA 5,137 45,042 0.0% * Sidenor Holdings SA 5,430 6,170 0.0% Terna Energy SA 132,747 381,062 0.0% Thessaloniki Water Supply & Sewage Co. SA 3,856 14,791 0.0% Titan Cement Co. SA 262,148 5,810,019 0.1% ----------------- --------------- TOTAL GREECE 75,174,054 0.5% ----------------- --------------- HONG KONG -- (0.0%) * China Culiangwang Beverages Holdings, Ltd. 2,800,500 171,604 0.0% #* Wanda Hotel Development Co., Ltd. 43,000 9,153 0.0% ----------------- --------------- TOTAL HONG KONG 180,757 0.0% ----------------- --------------- HUNGARY -- (0.2%) #* CIG Pannonia Life Insurance P.L.C. Class A 5,747 5,192 0.0% * Danubius Hotel and SpA P.L.C. 6,208 120,452 0.0% #* FHB Mortgage Bank P.L.C. 98,501 287,358 0.0% * Magyar Telekom Telecommunications P.L.C. 1,823,002 2,523,027 0.0% #* Magyar Telekom Telecommunications P.L.C. Sponsored ADR 36,206 245,839 0.0% MOL Hungarian Oil and Gas P.L.C. 119,595 5,690,747 0.0% # OTP Bank P.L.C. 1,067,617 17,681,471 0.1% Richter Gedeon Nyrt 441,356 6,732,771 0.1% ----------------- --------------- TOTAL HUNGARY 33,286,857 0.2% ----------------- --------------- INDIA -- (8.7%) * 3M India, Ltd. 3,252 327,913 0.0% Aban Offshore, Ltd. 192,279 1,942,220 0.0% ABB India, Ltd. 136,544 2,602,519 0.0% * ABG Shipyard, Ltd. 115,483 428,603 0.0% ACC, Ltd. 227,566 5,539,331 0.1% Adani Enterprises, Ltd. 848,716 6,666,615 0.1% Adani Ports & Special Economic Zone, Ltd. 1,705,265 7,965,803 0.1% * Adani Power, Ltd. 3,327,730 2,592,904 0.0% Aditya Birla Nuvo, Ltd. 218,616 5,989,241 0.1% * Advanta, Ltd. 74,330 408,328 0.0% Aegis Logistics, Ltd. 4,460 27,031 0.0% Agro Tech Foods, Ltd. 33,043 333,811 0.0% Ahmednagar Forgings, Ltd. 37,286 247,041 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- INDIA -- (Continued) AIA Engineering, Ltd. 102,053 $ 1,560,230 0.0% Ajanta Pharma, Ltd. 69,526 2,157,652 0.0% Akzo Nobel India, Ltd. 32,864 696,780 0.0% Alembic Pharmaceuticals, Ltd. 336,138 2,218,384 0.0% Alembic, Ltd. 91,524 70,183 0.0% Allahabad Bank 915,336 1,713,565 0.0% Allcargo Logistics, Ltd. 4,494 17,636 0.0% Alok Industries, Ltd. 5,583,532 1,138,671 0.0% Alstom India, Ltd. 104,518 906,116 0.0% Amara Raja Batteries, Ltd. 368,809 3,921,529 0.0% Ambuja Cements, Ltd. 3,102,973 11,473,926 0.1% Amtek Auto, Ltd. 574,953 1,544,412 0.0% Amtek India, Ltd. 159,163 240,046 0.0% Anant Raj, Ltd. 942,384 824,489 0.0% Andhra Bank 800,327 1,094,401 0.0% Apar Industries, Ltd. 9,849 60,907 0.0% Apollo Hospitals Enterprise, Ltd. 277,636 5,036,564 0.1% Apollo Tyres, Ltd. 1,829,625 6,505,717 0.1% Arvind, Ltd. 1,335,767 6,482,850 0.1% * Asahi India Glass, Ltd. 106,722 202,550 0.0% * Ashok Leyland, Ltd. 8,823,200 6,669,236 0.1% Asian Paints, Ltd. 873,172 9,301,025 0.1% Atul, Ltd. 31,127 645,477 0.0% Aurobindo Pharma, Ltd. 917,592 14,492,991 0.1% Automotive Axles, Ltd. 5,791 63,999 0.0% Axis Bank, Ltd. 4,488,760 32,156,044 0.2% Bajaj Auto, Ltd. 222,340 9,442,921 0.1% Bajaj Corp., Ltd. 115,660 534,826 0.0% Bajaj Electricals, Ltd. 208,168 958,112 0.0% Bajaj Finance, Ltd. 28,762 1,299,938 0.0% Bajaj Finserv, Ltd. 199,581 3,476,371 0.0% * Bajaj Hindusthan, Ltd. 1,505,484 476,109 0.0% Bajaj Holdings & Investment, Ltd. 124,221 2,801,166 0.0% Balkrishna Industries, Ltd. 169,701 2,126,739 0.0% Ballarpur Industries, Ltd. 1,632,287 449,021 0.0% Balmer Lawrie & Co., Ltd. 54,441 551,932 0.0% * Balrampur Chini Mills, Ltd. 900,409 802,356 0.0% Bank of Baroda 410,912 6,207,759 0.1% Bank of India 925,198 4,269,209 0.0% Bank Of Maharashtra 479,162 337,218 0.0% Bannari Amman Sugars, Ltd. 3,050 62,300 0.0% BASF India, Ltd. 39,435 781,660 0.0% Bata India, Ltd. 92,603 1,918,675 0.0% BEML, Ltd. 109,967 1,209,866 0.0% Berger Paints India, Ltd. 529,159 3,424,910 0.0% BGR Energy Systems, Ltd. 131,573 358,531 0.0% Bharat Electronics, Ltd. 57,139 1,933,263 0.0% Bharat Forge, Ltd. 663,273 8,760,536 0.1% Bharat Heavy Electricals, Ltd. 2,440,270 10,169,931 0.1% Bharat Petroleum Corp., Ltd. 725,403 8,516,503 0.1% Bharti Airtel, Ltd. 1,911,327 12,448,764 0.1% Bhushan Steel, Ltd. 334,343 575,769 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- INDIA -- (Continued) Biocon, Ltd. 442,068 $ 3,216,545 0.0% Birla Corp., Ltd. 48,901 416,121 0.0% Blue Dart Express, Ltd. 12,270 1,066,323 0.0% Blue Star, Ltd. 108,712 594,203 0.0% Bombay Dyeing & Manufacturing Co., Ltd. 675,229 734,864 0.0% Bosch, Ltd. 19,618 4,743,703 0.1% Brigade Enterprises, Ltd. 4,257 10,113 0.0% Britannia Industries, Ltd. 204,624 5,119,653 0.1% Cadila Healthcare, Ltd. 204,372 4,683,196 0.0% Cairn India, Ltd. 2,180,042 10,080,007 0.1% Canara Bank 662,147 4,322,344 0.0% Capital First, Ltd. 2,097 11,395 0.0% Carborundum Universal, Ltd. 136,424 425,640 0.0% CCL Products India, Ltd. 57,140 121,831 0.0% Ceat, Ltd. 83,042 1,163,195 0.0% * Central Bank Of India 1,200,049 1,313,288 0.0% Century Plyboards India, Ltd. 282,669 632,666 0.0% Century Textiles & Industries, Ltd. 310,285 2,791,004 0.0% CESC, Ltd. 403,869 4,437,730 0.0% Chambal Fertilizers & Chemicals, Ltd. 968,130 971,960 0.0% * Chennai Petroleum Corp., Ltd. 208,680 346,801 0.0% Cholamandalam Investment and Finance Co., Ltd. 56,126 439,625 0.0% Cipla, Ltd. 1,428,860 15,618,907 0.1% City Union Bank, Ltd. 1,034,709 1,425,413 0.0% Clariant Chemicals India, Ltd. 43,894 698,411 0.0% Claris Lifesciences, Ltd. 2,295 6,343 0.0% CMC, Ltd. 38,239 1,209,782 0.0% Colgate-Palmolive India, Ltd. 138,060 3,810,507 0.0% Container Corp. Of India, Ltd. 200,268 4,390,053 0.0% Coromandel International, Ltd. 314,379 1,695,452 0.0% Corp. Bank 196,531 1,078,713 0.0% Cox & Kings, Ltd. 290,822 1,353,006 0.0% CRISIL, Ltd. 7,002 208,662 0.0% Crompton Greaves, Ltd. 1,786,062 5,459,119 0.1% Cummins India, Ltd. 300,087 3,590,436 0.0% Cyient, Ltd. 111,217 861,903 0.0% Dabur India, Ltd. 918,343 3,412,066 0.0% Dalmia Bharat, Ltd. 32,421 222,606 0.0% DB Corp., Ltd. 49,844 289,003 0.0% * DB Realty, Ltd. 595,126 659,172 0.0% * DCB Bank, Ltd. 1,228,069 1,834,635 0.0% DCM Shriram, Ltd. 129,349 467,428 0.0% Deepak Fertilisers & Petrochemicals Corp., Ltd. 185,093 469,404 0.0% Delta Corp., Ltd. 741,177 1,076,431 0.0% * DEN Networks, Ltd. 277,867 746,634 0.0% Dena Bank 731,129 759,666 0.0% Dewan Housing Finance Corp., Ltd. 108,094 649,429 0.0% * Dish TV India, Ltd. 1,887,037 1,767,556 0.0% Dishman Pharmaceuticals & Chemicals, Ltd. 136,405 348,648 0.0% Divi's Laboratories, Ltd. 189,032 5,767,371 0.1% DLF, Ltd. 2,338,913 4,731,687 0.1% Dr Reddy's Laboratories, Ltd. 149,790 7,750,227 0.1% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- INDIA -- (Continued) # Dr. Reddy's Laboratories, Ltd. ADR 199,445 $ 10,428,979 0.1% Dredging Corp. Of India, Ltd. 21,104 152,753 0.0% eClerx Services, Ltd. 64,161 1,356,139 0.0% Edelweiss Financial Services, Ltd. 357,029 317,194 0.0% * Educomp Solutions, Ltd. 132,148 66,160 0.0% Eicher Motors, Ltd. 29,506 6,108,874 0.1% * EID Parry India, Ltd. 280,775 1,001,392 0.0% EIH, Ltd. 472,297 783,765 0.0% Electrosteel Castings, Ltd. 198,773 61,881 0.0% * Electrosteel Steels, Ltd. 48,436 3,916 0.0% Elgi Equipments, Ltd. 54,055 115,815 0.0% Emami, Ltd. 206,209 2,719,614 0.0% Engineers India, Ltd. 474,912 2,095,696 0.0% Entertainment Network India, Ltd. 43,763 359,930 0.0% * Era Infra Engineering, Ltd. 191,615 33,685 0.0% * Eros International Media, Ltd. 154,905 630,384 0.0% Escorts, Ltd. 393,253 1,084,047 0.0% Ess Dee Aluminium, Ltd. 117,801 680,205 0.0% * Essar Oil, Ltd. 1,729,249 3,404,984 0.0% Essar Ports, Ltd. 201,111 314,118 0.0% * Essar Shipping, Ltd. 67,656 24,964 0.0% Essel Propack, Ltd. 87,861 163,728 0.0% Exide Industries, Ltd. 1,166,330 2,994,305 0.0% FAG Bearings India, Ltd. 16,392 827,816 0.0% FDC, Ltd. 315,616 805,739 0.0% Federal Bank, Ltd. 3,547,580 8,229,789 0.1% * Federal-Mogul Goetze India, Ltd. 18,608 92,138 0.0% Financial Technologies India, Ltd. 158,498 451,298 0.0% Finolex Cables, Ltd. 429,637 1,567,143 0.0% Finolex Industries, Ltd. 365,472 1,900,506 0.0% * Firstsource Solutions, Ltd. 868,841 553,230 0.0% * Fortis Healthcare, Ltd. 624,952 1,231,011 0.0% * Future Consumer Enterprise, Ltd. 103,296 18,648 0.0% Future Lifestyle Fashions, Ltd. 6,032 9,268 0.0% Future Retail, Ltd. 186,066 349,872 0.0% Gabriel India, Ltd. 74,392 100,282 0.0% GAIL India, Ltd. 1,288,652 11,079,936 0.1% * Gammon Infrastructure Projects, Ltd. 49,116 11,676 0.0% Gateway Distriparks, Ltd. 247,632 1,157,242 0.0% Gati, Ltd. 60,542 200,773 0.0% GHCL, Ltd. 2,294 3,190 0.0% Gillette India, Ltd. 12,070 552,393 0.0% * Gitanjali Gems, Ltd. 286,011 267,902 0.0% GlaxoSmithKline Consumer Healthcare, Ltd. 14,483 1,306,159 0.0% Glenmark Pharmaceuticals, Ltd. 267,825 3,139,374 0.0% Global Offshore Services, Ltd. 1,613 12,662 0.0% GMR Infrastructure, Ltd. 7,216,465 2,552,129 0.0% Godfrey Phillips India, Ltd. 5,046 244,690 0.0% Godrej Consumer Products, Ltd. 278,597 4,363,409 0.0% Godrej Industries, Ltd. 355,326 1,740,937 0.0% Godrej Properties, Ltd. 236,840 936,064 0.0% Graphite India, Ltd. 145,210 221,600 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- INDIA -- (Continued) Grasim Industries, Ltd. 28,007 $ 1,598,368 0.0% Great Eastern Shipping Co., Ltd. (The) 290,588 1,872,391 0.0% Greaves Cotton, Ltd. 396,727 836,838 0.0% Grindwell Norton, Ltd. 12,559 108,440 0.0% Gruh Finance, Ltd. 125,380 434,380 0.0% * GTL Infrastructure, Ltd. 1,083,313 49,302 0.0% Gujarat Alkalies & Chemicals, Ltd. 146,186 470,047 0.0% Gujarat Fluorochemicals, Ltd. 81,058 1,013,164 0.0% Gujarat Gas Co., Ltd. 76,884 605,265 0.0% Gujarat Industries Power Co., Ltd. 87,118 126,457 0.0% Gujarat Mineral Development Corp., Ltd. 327,259 814,300 0.0% Gujarat Narmada Valley Fertilizers & Chemicals, Ltd. 310,231 433,431 0.0% * Gujarat NRE Coke, Ltd. 1,308,535 159,243 0.0% * Gujarat Pipavav Port, Ltd. 507,865 1,368,015 0.0% Gujarat State Fertilisers & Chemicals, Ltd. 816,591 1,609,264 0.0% Gujarat State Petronet, Ltd. 969,310 1,528,231 0.0% Gulf Oil Corp., Ltd. 31,092 87,167 0.0% Gulf Oil Lubricants India, Ltd. 31,092 167,132 0.0% * GVK Power & Infrastructure, Ltd. 6,054,079 1,148,185 0.0% * Hathway Cable & Datacom, Ltd. 237,248 1,191,066 0.0% Havells India, Ltd. 1,204,900 5,596,356 0.1% * HCL Infosystems, Ltd. 702,241 836,047 0.0% HCL Technologies, Ltd. 863,544 22,716,193 0.2% HDFC Bank, Ltd. 2,994,559 44,629,222 0.3% HEG, Ltd. 42,070 207,136 0.0% * HeidelbergCement India, Ltd. 203,151 293,087 0.0% Hero MotoCorp, Ltd. 237,095 11,835,506 0.1% * Hexa Tradex, Ltd. 69,387 28,616 0.0% Hexaware Technologies, Ltd. 1,419,762 4,563,074 0.0% Hikal, Ltd. 1,140 13,113 0.0% * Himachal Futuristic Communications, Ltd. 3,192,646 954,689 0.0% Himadri Chemicals & Industries, Ltd. 17,764 8,309 0.0% Hindalco Industries, Ltd. 6,953,424 18,482,195 0.1% Hinduja Global Solutions, Ltd. 10,967 120,494 0.0% Hinduja Ventures, Ltd. 10,967 56,247 0.0% * Hindustan Construction Co., Ltd. 2,773,413 1,490,488 0.0% * Hindustan Oil Exploration Co., Ltd. 131,920 129,581 0.0% Hindustan Petroleum Corp., Ltd. 409,764 3,491,623 0.0% Hindustan Unilever, Ltd. 459,786 5,512,943 0.1% Hitachi Home & Life Solutions India, Ltd. 3,526 36,871 0.0% Honeywell Automation India, Ltd. 7,379 673,067 0.0% * Hotel Leela Venture, Ltd. 365,088 135,050 0.0% * Housing Development & Infrastructure, Ltd. 2,129,437 2,891,461 0.0% HSIL, Ltd. 81,520 496,516 0.0% HT Media, Ltd. 141,973 271,197 0.0% ICICI Bank, Ltd. 376,231 9,982,851 0.1% ICICI Bank, Ltd. Sponsored ADR 621,150 35,008,014 0.2% IDBI Bank, Ltd. 1,926,250 2,213,655 0.0% Idea Cellular, Ltd. 3,882,106 10,285,767 0.1% IDFC, Ltd. 1,943,833 4,945,753 0.1% IFCI, Ltd. 1,168,454 698,978 0.0% IIFL Holdings, Ltd. 806,574 2,234,469 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- INDIA -- (Continued) IL&FS Transportation Networks, Ltd. 17,566 $ 56,740 0.0% India Cements, Ltd. (The) 1,930,648 3,500,393 0.0% Indiabulls Housing Finance, Ltd. 378,779 2,589,279 0.0% * Indiabulls Infrastructure and Power, Ltd. 2,185,548 135,120 0.0% Indiabulls Real Estate, Ltd. 740,864 867,236 0.0% Indian Bank 591,070 1,601,191 0.0% * Indian Hotels Co., Ltd. 2,096,389 3,576,035 0.0% Indian Oil Corp., Ltd. 1,130,583 6,624,377 0.1% Indian Overseas Bank 1,144,894 1,098,979 0.0% Indoco Remedies, Ltd. 190,088 910,222 0.0% Indraprastha Gas, Ltd. 288,028 1,860,241 0.0% IndusInd Bank, Ltd. 878,135 10,285,494 0.1% Info Edge India, Ltd. 93,532 1,286,064 0.0% Infosys, Ltd. 350,764 23,268,136 0.2% # Infosys, Ltd. Sponsored ADR 875,587 58,541,747 0.4% ING Vysya Bank, Ltd. 84,082 882,734 0.0% Ingersoll-Rand India, Ltd. 33,090 482,818 0.0% * Inox Leisure, Ltd. 5,620 16,949 0.0% Intellect Design Arena, Ltd. 519,696 406,277 0.0% * International Paper APPM, Ltd. 13,196 65,434 0.0% Ipca Laboratories, Ltd. 147,825 1,769,519 0.0% IRB Infrastructure Developers, Ltd. 719,691 2,954,339 0.0% ITC, Ltd. 4,166,803 24,060,115 0.2% Jagran Prakashan, Ltd. 212,001 445,872 0.0% Jain Irrigation Systems, Ltd. 2,136,104 3,154,090 0.0% * Jaiprakash Associates, Ltd. 8,060,733 4,088,805 0.0% * Jaiprakash Power Ventures, Ltd. 3,013,712 656,257 0.0% Jammu & Kashmir Bank, Ltd. (The) 1,250,320 2,827,667 0.0% * Jaypee Infratech, Ltd. 1,469,501 549,093 0.0% JB Chemicals & Pharmaceuticals, Ltd. 70,265 262,874 0.0% JBF Industries, Ltd. 63,408 153,111 0.0% Jindal Drilling & Industries, Ltd. 7,661 28,098 0.0% Jindal Poly Films, Ltd. 89,582 443,207 0.0% * Jindal Poly Investment & Finance Co., Ltd. 10,650 24,124 0.0% Jindal Saw, Ltd. 1,102,888 1,396,290 0.0% * Jindal Stainless, Ltd. 188,806 104,376 0.0% Jindal Steel & Power, Ltd. 1,575,890 4,133,263 0.0% JK Cement, Ltd. 42,330 419,812 0.0% JK Lakshmi Cement, Ltd. 218,555 1,328,261 0.0% JK Tyre & Industries, Ltd. 92,539 736,454 0.0% JM Financial, Ltd. 1,709,961 1,317,930 0.0% JSW Energy, Ltd. 2,675,847 3,479,239 0.0% JSW Steel, Ltd. 537,269 10,992,810 0.1% * Jubilant Foodworks, Ltd. 122,702 2,534,209 0.0% Jubilant Life Sciences, Ltd. 278,539 650,223 0.0% Jyothy Laboratories, Ltd. 103,487 422,316 0.0% Kajaria Ceramics, Ltd. 163,566 1,597,713 0.0% Kakinada Fertilizers, Ltd. 245,677 8,411 0.0% Kalpataru Power Transmission, Ltd. 176,513 488,002 0.0% Kansai Nerolac Paints, Ltd. 3,249 101,871 0.0% Karnataka Bank, Ltd. (The) 831,047 1,682,603 0.0% Karur Vysya Bank, Ltd. (The) 117,952 1,054,095 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- INDIA -- (Continued) Kaveri Seed Co., Ltd. 118,375 $ 1,778,372 0.0% KEC International, Ltd. 492,597 872,336 0.0% * Kesoram Industries, Ltd. 149,396 301,566 0.0% Kewal Kiran Clothing, Ltd. 41 1,147 0.0% Kirloskar Brothers, Ltd. 2,275 9,568 0.0% Kirloskar Oil Engines, Ltd. 83,823 351,921 0.0% Kolte-Patil Developers, Ltd. 4,111 12,576 0.0% Kotak Mahindra Bank, Ltd. 1,292,823 23,612,789 0.2% KPIT Technologies, Ltd. 825,034 2,224,006 0.0% KRBL, Ltd. 21,641 32,021 0.0% KSB Pumps, Ltd. 13,268 115,461 0.0% * KSK Energy Ventures, Ltd. 42,495 43,897 0.0% Lakshmi Machine Works, Ltd. 15,340 994,872 0.0% Lakshmi Vilas Bank, Ltd. (The) 302,749 371,613 0.0% * Lanco Infratech, Ltd. 3,642,715 405,212 0.0% Larsen & Toubro, Ltd. 1,289,058 34,697,868 0.2% Larsen & Toubro, Ltd. GDR 22,185 607,021 0.0% LIC Housing Finance, Ltd. 531,645 3,130,539 0.0% Lupin, Ltd. 253,549 5,633,904 0.1% * Mahanagar Telephone Nigam, Ltd. 523,228 253,574 0.0% #* Mahanagar Telephone Nigam, Ltd. ADR 32,600 28,688 0.0% Maharashtra Seamless, Ltd. 104,656 533,677 0.0% Mahindra & Mahindra Financial Services, Ltd. 423,025 2,010,724 0.0% Mahindra & Mahindra, Ltd. 1,493,053 31,548,245 0.2% Mahindra Holidays & Resorts India, Ltd. 53,225 248,228 0.0% Mahindra Lifespace Developers, Ltd. 36,476 301,333 0.0% Man Infraconstruction, Ltd. 12,510 5,228 0.0% * Manaksia, Ltd. 3,669 6,732 0.0% Mandhana Industries, Ltd. 48,996 197,940 0.0% * Mangalore Refinery & Petrochemicals, Ltd. 1,517,638 1,450,522 0.0% * Marico Kaya Enterprises, Ltd. 6,843 66,273 0.0% Marico, Ltd. 604,659 3,066,095 0.0% Maruti Suzuki India, Ltd. 300,297 16,298,187 0.1% MAX India, Ltd. 646,721 3,740,139 0.0% McLeod Russel India, Ltd. 238,161 1,008,347 0.0% Mercator, Ltd. 500,673 234,689 0.0% Merck, Ltd. 15,284 201,945 0.0% MindTree, Ltd. 236,372 4,218,384 0.0% MOIL, Ltd. 18,361 92,593 0.0% Monnet Ispat & Energy, Ltd. 67,077 91,210 0.0% Monsanto India, Ltd. 38,154 1,860,569 0.0% Motherson Sumi Systems, Ltd. 1,034,020 7,090,458 0.1% Motilal Oswal Financial Services, Ltd. 16,385 57,075 0.0% Mphasis, Ltd. 242,499 1,580,007 0.0% MRF, Ltd. 8,254 4,204,387 0.0% * Nagarjuna Oil Refinery, Ltd. 223,343 16,475 0.0% Natco Pharma, Ltd. 80,631 1,898,951 0.0% National Aluminium Co., Ltd. 1,817,142 1,690,242 0.0% Nava Bharat Ventures, Ltd. 53,812 189,395 0.0% Navneet Education, Ltd. 298,082 498,388 0.0% NCC, Ltd.() 1,322,528 1,284,833 0.0% NCC, Ltd.(B0FXGP0) 1,178,021 1,135,471 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- INDIA -- (Continued) NESCO, Ltd. 28,538 $ 579,208 0.0% Nestle India, Ltd. 34,534 3,533,077 0.0% NHPC, Ltd. 10,682,783 3,577,986 0.0% NIIT Technologies, Ltd. 286,902 1,804,779 0.0% NIIT, Ltd. 276,144 208,790 0.0% Nitin Fire Protection Industries, Ltd. 432,756 443,917 0.0% Noida Toll Bridge Co., Ltd. 157,570 91,578 0.0% NTPC, Ltd. 2,908,839 7,108,942 0.1% Oberoi Realty, Ltd. 153,097 613,136 0.0% OCL India, Ltd. 23,518 119,349 0.0% Oil & Natural Gas Corp., Ltd. 1,565,742 10,247,110 0.1% Oil India, Ltd. 396,610 4,083,245 0.0% OMAXE, Ltd. 348,065 744,982 0.0% * Opto Circuits India, Ltd. 324,881 101,139 0.0% Oracle Financial Services Software, Ltd. 66,143 3,636,701 0.0% Orient Cement, Ltd. 199,965 482,298 0.0% Orient Paper & Industries, Ltd. 33,277 17,409 0.0% Oriental Bank of Commerce 502,486 2,332,900 0.0% Orissa Minerals Development Co., Ltd. 6,450 359,293 0.0% * Oswal Chemicals & Fertilizers, Ltd. 175,169 91,685 0.0% Page Industries, Ltd. 13,677 1,984,229 0.0% * Panacea Biotec, Ltd. 348 890 0.0% * Pantaloons Fashions and Retail, Ltd. 1,620 3,197 0.0% * Parsvnath Developers, Ltd. 471,869 155,593 0.0% PC Jeweller, Ltd. 48,029 189,095 0.0% Peninsula Land, Ltd. 298,269 174,578 0.0% Persistent Systems, Ltd. 64,059 1,354,894 0.0% Petronet LNG, Ltd. 1,122,198 3,630,920 0.0% Pfizer, Ltd. 28,531 768,060 0.0% Phoenix Mills, Ltd. (The) 71,042 441,418 0.0% PI Industries, Ltd. 95,696 693,804 0.0% Pidilite Industries, Ltd. 468,919 3,154,893 0.0% * Pipavav Defence & Offshore Engineering Co., Ltd. 1,150,244 719,540 0.0% Piramal Enterprises, Ltd. 223,156 2,928,334 0.0% * Plethico Pharmaceuticals, Ltd. 66,992 45,100 0.0% Polaris Financial Technology, Ltd. 519,696 1,584,530 0.0% Polyplex Corp., Ltd. 10,415 43,379 0.0% Power Finance Corp., Ltd. 569,675 2,599,801 0.0% Power Grid Corp. of India, Ltd. 2,835,046 6,713,391 0.1% Praj Industries, Ltd. 420,106 430,979 0.0% Prestige Estates Projects, Ltd. 421,605 1,542,446 0.0% * Prism Cement, Ltd. 374,755 457,398 0.0% Procter & Gamble Hygiene & Health Care, Ltd. 7,648 669,284 0.0% PTC India Financial Services, Ltd. 299,061 246,219 0.0% PTC India, Ltd. 1,855,165 2,773,595 0.0% * Punj Lloyd, Ltd. 1,305,665 812,318 0.0% Punjab & Sind Bank 24,739 23,554 0.0% Puravankara Projects, Ltd. 11,425 18,603 0.0% Radico Khaitan, Ltd. 525,244 777,827 0.0% Rain Industries, Ltd. 510,291 412,672 0.0% Rajesh Exports, Ltd. 191,974 445,320 0.0% Rallis India, Ltd. 478,821 1,790,177 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- INDIA -- (Continued) Ramco Cements, Ltd. (The) 354,824 $ 1,996,552 0.0% * Ranbaxy Laboratories, Ltd. 674,941 6,954,434 0.1% Raymond, Ltd. 240,618 1,809,702 0.0% Redington India, Ltd. 454,744 757,472 0.0% REI Agro, Ltd. 2,471,251 98,790 0.0% Relaxo Footwears, Ltd. 3,141 26,447 0.0% Reliance Capital, Ltd. 403,679 3,112,914 0.0% * Reliance Communications, Ltd. 3,240,262 5,574,449 0.1% Reliance Industries, Ltd. 3,980,031 64,496,597 0.4% Reliance Infrastructure, Ltd. 442,918 4,576,831 0.0% * Reliance Power, Ltd. 3,489,020 4,336,798 0.0% Rolta India, Ltd. 682,809 1,227,779 0.0% Ruchi Soya Industries, Ltd. 631,167 389,162 0.0% Rural Electrification Corp., Ltd. 600,461 2,946,392 0.0% Sadbhav Engineering, Ltd. 90,249 343,901 0.0% Sanofi India, Ltd. 15,997 862,993 0.0% * Schneider Electric Infrastructure, Ltd. 119,154 297,075 0.0% Selan Exploration Technology, Ltd. 11,552 90,036 0.0% Sesa Sterlite, Ltd. 3,733,738 15,558,114 0.1% Sesa Sterlite, Ltd. ADR 395,377 6,658,149 0.1% Shasun Pharmaceuticals, Ltd. 53,172 173,398 0.0% * Shipping Corp. of India, Ltd. 1,061,725 1,041,296 0.0% Shoppers Stop, Ltd. 65,709 573,424 0.0% Shree Cement, Ltd. 34,408 5,089,404 0.1% * Shree Renuka Sugars, Ltd. 2,779,059 768,733 0.0% Shriram Transport Finance Co., Ltd. 207,642 3,207,343 0.0% Siemens, Ltd. 287,077 4,060,968 0.0% Sintex Industries, Ltd. 1,214,259 1,909,289 0.0% SJVN, Ltd. 826,054 322,269 0.0% SKF India, Ltd. 58,793 1,184,255 0.0% Sobha Developers, Ltd. 335,276 2,355,829 0.0% Solar Industries India, Ltd. 10,416 426,771 0.0% Sona Koyo Steering Systems, Ltd. 15,217 13,806 0.0% South Indian Bank, Ltd. (The) 2,491,777 1,126,828 0.0% Spice Mobility, Ltd. 31,899 14,931 0.0% SREI Infrastructure Finance, Ltd. 256,428 198,875 0.0% SRF, Ltd. 124,599 1,712,271 0.0% Star Ferro and Cement, Ltd. 85,287 98,219 0.0% State Bank of Bikaner & Jaipur 54,758 506,749 0.0% State Bank of India 398,582 17,522,103 0.1% State Bank of India GDR 9,000 790,510 0.0% Steel Authority of India, Ltd. 1,072,530 1,454,352 0.0% Sterlite Technologies, Ltd. 552,906 640,996 0.0% Strides Arcolab, Ltd. 156,194 1,682,205 0.0% Styrolution ABS India, Ltd. 16,430 169,404 0.0% * Sun Pharma Advanced Research Co., Ltd. 344,348 1,109,251 0.0% Sun Pharmaceutical Industries, Ltd. 1,566,167 21,492,627 0.2% Sun TV Network, Ltd. 429,306 2,285,807 0.0% Sundaram Finance, Ltd. 10,572 235,864 0.0% Sundaram-Clayton, Ltd. 1,880 51,693 0.0% Sundram Fasteners, Ltd. 189,144 477,004 0.0% Supreme Industries, Ltd. 169,922 1,659,882 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- INDIA -- (Continued) Supreme Petrochem, Ltd. 3,242 $ 4,193 0.0% * Surana Industries, Ltd. 1,534 1,386 0.0% * Suzlon Energy, Ltd. 5,590,192 1,209,935 0.0% Swaraj Engines, Ltd. 5,248 81,870 0.0% Syndicate Bank 1,041,919 2,129,802 0.0% Tamil Nadu Newsprint & Papers, Ltd. 36,247 83,214 0.0% Tata Chemicals, Ltd. 465,058 3,080,792 0.0% Tata Communications, Ltd. 420,243 2,759,929 0.0% Tata Consultancy Services, Ltd. 972,691 41,495,249 0.3% Tata Elxsi, Ltd. 185,545 1,875,804 0.0% Tata Global Beverages, Ltd. 1,856,094 4,839,339 0.1% Tata Motors, Ltd. 1,852,207 16,175,811 0.1% Tata Motors, Ltd. Sponsored ADR 236,834 11,154,881 0.1% Tata Power Co., Ltd. 4,596,246 7,065,290 0.1% Tata Sponge Iron, Ltd. 29,027 339,273 0.0% Tata Steel, Ltd. 1,599,791 12,746,377 0.1% * Tata Teleservices Maharashtra, Ltd. 3,222,266 482,968 0.0% Tech Mahindra, Ltd. 476,291 19,549,644 0.1% Techno Electric & Engineering Co., Ltd. 7,483 32,698 0.0% Texmaco Rail & Engineering, Ltd. 100,362 156,941 0.0% Thermax, Ltd. 142,412 2,056,021 0.0% Time Technoplast, Ltd. 152,236 117,159 0.0% Timken India, Ltd. 54,549 369,642 0.0% Titan Co., Ltd. 625,363 3,991,492 0.0% Torrent Pharmaceuticals, Ltd. 289,722 4,157,157 0.0% Torrent Power, Ltd. 443,371 1,184,375 0.0% Transport Corp. of India, Ltd. 27,931 103,032 0.0% Tree House Education and Accessories, Ltd. 9,262 66,925 0.0% Trent, Ltd. 31,736 685,864 0.0% Triveni Turbine, Ltd. 304,535 444,803 0.0% TTK Prestige, Ltd. 12,001 766,277 0.0% Tube Investments of India, Ltd. 244,991 1,393,418 0.0% * TV18 Broadcast, Ltd. 3,638,549 1,724,336 0.0% TVS Motor Co., Ltd. 1,265,616 5,333,335 0.1% UCO Bank 1,897,998 2,699,209 0.0% Uflex, Ltd. 146,627 382,659 0.0% Ultratech Cement, Ltd. 155,423 6,447,041 0.1% Unichem Laboratories, Ltd. 160,022 510,291 0.0% Union Bank of India 806,976 2,950,373 0.0% * Unitech, Ltd. 8,975,118 2,987,327 0.0% United Breweries, Ltd. 155,855 1,771,679 0.0% UPL, Ltd. 2,211,652 12,475,404 0.1% * Usha Martin, Ltd. 706,962 303,077 0.0% * Uttam Galva Steels, Ltd. 60,136 72,001 0.0% * Uttam Value Steels, Ltd. 130,697 15,984 0.0% V-Guard Industries, Ltd. 76,326 1,133,455 0.0% VA Tech Wabag, Ltd. 14,991 388,843 0.0% Vakrangee, Ltd. 644,337 1,332,653 0.0% * Vardhman Special Steels, Ltd. 5,275 3,011 0.0% Vardhman Textiles, Ltd. 50,227 358,663 0.0% Videocon Industries, Ltd. 379,056 1,036,632 0.0% Vijaya Bank 1,171,149 909,018 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- INDIA -- (Continued) VIP Industries, Ltd. 544,006 $ 987,037 0.0% Voltamp Transformers, Ltd. 4,010 45,670 0.0% Voltas, Ltd. 1,100,777 4,494,537 0.0% VST Industries, Ltd. 15,554 459,069 0.0% WABCO India, Ltd. 8,431 497,748 0.0% Welspun Corp., Ltd. 637,539 793,127 0.0% * Welspun Enterprises, Ltd. 31,877 105,132 0.0% Wipro, Ltd. 1,780,556 16,428,161 0.1% Wockhardt, Ltd. 177,038 2,183,705 0.0% Wyeth, Ltd. 17,942 317,895 0.0% Yes Bank, Ltd. 1,035,409 11,511,441 0.1% Zee Entertainment Enterprises, Ltd. 2,003,535 11,221,593 0.1% Zensar Technologies, Ltd. 73,473 723,889 0.0% Zuari Agro Chemicals, Ltd. 22,948 95,061 0.0% Zydus Wellness, Ltd. 58,982 603,771 0.0% ----------------- --------------- TOTAL INDIA 1,497,815,761 9.5% ----------------- --------------- INDONESIA -- (2.8%) Ace Hardware Indonesia Tbk PT 32,882,100 2,206,972 0.0% Adaro Energy Tbk PT 66,098,100 6,215,715 0.1% Adhi Karya Persero Tbk PT 12,209,000 2,782,901 0.0% Agung Podomoro Land Tbk PT 40,132,200 1,172,332 0.0% AKR Corporindo Tbk PT 7,726,800 3,148,031 0.0% Alam Sutera Realty Tbk PT 83,711,100 3,214,076 0.0% Aneka Tambang Persero Tbk PT 40,017,800 3,214,047 0.0% Arwana Citramulia Tbk PT 12,154,600 920,295 0.0% Asahimas Flat Glass Tbk PT 476,500 264,612 0.0% Astra Agro Lestari Tbk PT 2,477,300 4,818,254 0.0% Astra Graphia Tbk PT 2,554,000 468,963 0.0% Astra International Tbk PT 72,654,500 40,738,177 0.3% * Bakrie and Brothers Tbk PT 249,014,750 1,030,264 0.0% * Bakrie Sumatera Plantations Tbk PT 47,660,300 197,208 0.0% * Bakrie Telecom Tbk PT 62,111,539 256,978 0.0% * Bakrieland Development Tbk PT 157,101,000 649,983 0.0% Bank Bukopin Tbk PT 30,769,300 1,921,588 0.0% Bank Central Asia Tbk PT 25,756,500 27,805,173 0.2% Bank Danamon Indonesia Tbk PT 8,571,854 2,989,421 0.0% Bank Mandiri Persero Tbk PT 27,873,018 23,938,850 0.2% Bank Negara Indonesia Persero Tbk PT 36,483,930 17,981,645 0.1% * Bank Pan Indonesia Tbk PT 30,000,000 2,482,322 0.0% Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT 16,356,900 1,022,190 0.0% Bank Permata Tbk PT 203,500 24,921 0.0% Bank Rakyat Indonesia Persero Tbk PT 35,950,500 32,944,894 0.2% Bank Tabungan Negara Persero Tbk PT 39,539,835 3,665,495 0.0% * Bank Tabungan Pensiunan Nasional Tbk PT 2,253,500 789,026 0.0% * Barito Pacific Tbk PT 8,261,500 183,093 0.0% * Bayan Resources Tbk PT 950,000 544,282 0.0% * Benakat Integra Tbk PT 21,066,800 242,320 0.0% * Berau Coal Energy Tbk PT 25,135,500 199,661 0.0% * Berlian Laju Tanker Tbk PT 26,853,166 -- 0.0% BISI International Tbk PT 10,509,912 426,323 0.0% * Borneo Lumbung Energi & Metal Tbk PT 6,860,500 38,595 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- INDONESIA -- (Continued) * Budi Starch & Sweetener Tbk PT 2,800,500 $ 23,678 0.0% * Bumi Resources Minerals Tbk PT 1,756,000 53,965 0.0% * Bumi Resources Tbk PT 52,567,200 601,314 0.0% Bumi Serpong Damai PT 42,750,500 5,681,188 0.1% BW Plantation Tbk PT 16,793,200 758,176 0.0% * Central Proteinaprima Tbk PT 22,741,500 94,090 0.0% Chandra Asri Petrochemical Tbk PT 7,000 1,782 0.0% Charoen Pokphand Indonesia Tbk PT 18,054,760 6,278,974 0.1% Ciputra Development Tbk PT 52,270,219 4,956,808 0.0% Ciputra Property Tbk PT 13,451,900 840,479 0.0% Ciputra Surya Tbk PT 8,098,900 1,625,117 0.0% Citra Marga Nusaphala Persada Tbk PT 9,083,300 2,371,712 0.0% * Clipan Finance Indonesia Tbk PT 2,919,000 106,044 0.0% * Darma Henwa Tbk PT 55,755,500 230,681 0.0% * Davomas Abadi Tbk PT 4,583,000 -- 0.0% * Delta Dunia Makmur Tbk PT 31,865,800 570,147 0.0% Elnusa Tbk PT 38,433,800 1,646,682 0.0% * Energi Mega Persada Tbk PT 215,986,000 2,026,149 0.0% * Erajaya Swasembada Tbk PT 9,226,000 779,845 0.0% * Exploitasi Energi Indonesia Tbk PT 36,327,500 553,271 0.0% Express Transindo Utama Tbk PT 10,480,900 1,010,853 0.0% * Fajar Surya Wisesa Tbk PT 823,000 109,644 0.0% Gajah Tunggal Tbk PT 17,411,500 2,075,222 0.0% * Garuda Indonesia Persero Tbk PT 1,152,853 50,564 0.0% Global Mediacom Tbk PT 41,758,800 6,777,474 0.1% * Golden Eagle Energy Tbk PT 1,242,500 185,059 0.0% * Gozco Plantations Tbk PT 10,507,300 84,291 0.0% Gudang Garam Tbk PT 1,542,200 7,380,138 0.1% * Hanson International Tbk PT 39,976,400 2,051,320 0.0% Harum Energy Tbk PT 7,425,400 971,480 0.0% Hexindo Adiperkasa Tbk PT 1,223,000 363,544 0.0% Holcim Indonesia Tbk PT 10,921,700 2,123,473 0.0% Indah Kiat Pulp & Paper Corp. Tbk PT 12,271,200 1,167,096 0.0% * Indika Energy Tbk PT 21,265,000 1,118,273 0.0% Indo Tambangraya Megah Tbk PT 1,995,400 3,501,165 0.0% * Indo-Rama Synthetics Tbk PT 12,500 1,083 0.0% Indocement Tunggal Prakarsa Tbk PT 4,658,600 9,233,275 0.1% Indofood CBP Sukses Makmur Tbk PT 3,311,600 3,028,426 0.0% Indofood Sukses Makmur Tbk PT 19,632,100 11,088,930 0.1% * Indosat Tbk PT 6,135,200 1,861,093 0.0% * Inovisi Infracom Tbk PT 2,876,678 123,783 0.0% Intiland Development Tbk PT 41,306,900 2,034,334 0.0% Japfa Comfeed Indonesia Tbk PT 28,375,500 2,949,457 0.0% Jasa Marga Persero Tbk PT 9,009,700 4,736,893 0.0% Jaya Real Property Tbk PT 1,762,500 145,588 0.0% Kalbe Farma Tbk PT 51,610,900 7,287,078 0.1% Kawasan Industri Jababeka Tbk PT 149,391,946 3,365,262 0.0% * Krakatau Steel Persero Tbk PT 1,566,000 61,693 0.0% * Lippo Cikarang Tbk PT 3,659,500 2,575,301 0.0% Lippo Karawaci Tbk PT 151,654,562 13,432,456 0.1% Malindo Feedmill Tbk PT 7,863,100 2,033,373 0.0% Matahari Putra Prima Tbk PT 11,816,772 3,076,746 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- INDONESIA -- (Continued) Mayora Indah Tbk PT 1,770,125 $ 4,141,476 0.0% Medco Energi Internasional Tbk PT 8,948,100 2,849,913 0.0% Media Nusantara Citra Tbk PT 20,277,093 4,700,835 0.0% Mitra Adiperkasa Tbk PT 6,230,000 2,735,230 0.0% * Mitra International Resources Tbk PT 1,383,500 5,725 0.0% MNC Investama Tbk PT 102,312,000 2,836,316 0.0% MNC Sky Vision Tbk PT 2,248,800 353,954 0.0% Modern Internasional Tbk PT 1,883,000 112,882 0.0% Modernland Realty Tbk PT 6,659,400 274,007 0.0% Multipolar Tbk PT 35,601,500 2,772,149 0.0% Multistrada Arah Sarana Tbk PT 3,155,000 108,332 0.0% Nippon Indosari Corpindo Tbk PT 2,999,100 307,839 0.0% * Nusantara Infrastructure Tbk PT 72,472,300 1,176,086 0.0% Pabrik Kertas Tjiwi Kimia Tbk PT 2,279,000 171,948 0.0% Pakuwon Jati Tbk PT 104,775,100 3,901,790 0.0% * Panin Financial Tbk PT 131,808,600 2,914,397 0.0% * Paninvest Tbk PT 5,396,500 297,215 0.0% Pembangunan Perumahan Persero Tbk PT 24,205,900 5,268,613 0.1% Perusahaan Gas Negara Persero Tbk PT 23,787,000 11,717,229 0.1% Perusahaan Perkebunan London Sumatra Indonesia Tbk PT 31,056,900 4,999,945 0.0% Petrosea Tbk PT 3,285,500 288,460 0.0% * Polaris Investama Tbk PT 577,000 76,171 0.0% * Polychem Indonesia Tbk PT 99,800 1,462 0.0% Ramayana Lestari Sentosa Tbk PT 22,541,400 1,513,605 0.0% Resource Alam Indonesia Tbk PT 2,183,500 227,700 0.0% Salim Ivomas Pratama Tbk PT 8,997,900 576,641 0.0% Samindo Resources Tbk PT 348,500 14,713 0.0% Sampoerna Agro PT 5,251,659 912,688 0.0% Selamat Sempurna Tbk PT 3,009,900 1,119,458 0.0% Semen Indonesia Persero Tbk PT 8,186,100 10,752,875 0.1% * Sentul City Tbk PT 206,717,100 1,524,477 0.0% * Sigmagold Inti Perkasa Tbk PT 13,708,000 533,184 0.0% Sinar Mas Multiartha Tbk PT 278,500 66,804 0.0% * Sugih Energy Tbk PT 70,160,100 2,448,723 0.0% Summarecon Agung Tbk PT 55,447,564 5,780,109 0.1% Surya Citra Media Tbk PT 11,754,500 3,290,309 0.0% Surya Semesta Internusa Tbk PT 25,742,200 1,617,621 0.0% * Suryainti Permata Tbk PT 3,098,000 -- 0.0% Tambang Batubara Bukit Asam Persero Tbk PT 5,453,900 5,851,242 0.1% Telekomunikasi Indonesia Persero Tbk PT 35,059,000 7,984,594 0.1% # Telekomunikasi Indonesia Persero Tbk PT Sponsored ADR 358,549 16,260,197 0.1% Tempo Scan Pacific Tbk PT 472,900 111,608 0.0% * Tiga Pilar Sejahtera Food Tbk 13,389,139 2,427,159 0.0% Timah Persero Tbk PT 38,349,667 3,923,214 0.0% * Tiphone Mobile Indonesia Tbk PT 11,107,100 864,892 0.0% Total Bangun Persada Tbk PT 11,748,900 881,355 0.0% Tower Bersama Infrastructure Tbk PT 6,580,600 4,847,234 0.0% * Trada Maritime Tbk PT 23,513,987 2,692,386 0.0% Trias Sentosa Tbk PT 3,690,500 115,870 0.0% * Trimegah Securities Tbk PT 5,343,500 30,174 0.0% * Truba Alam Manunggal Engineering PT 15,388,500 10,187 0.0% Tunas Baru Lampung Tbk PT 7,902,300 457,816 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- INDONESIA -- (Continued) Tunas Ridean Tbk PT 8,038,500 $ 412,501 0.0% Ultrajaya Milk Industry & Trading Co. Tbk PT 2,569,000 812,947 0.0% Unilever Indonesia Tbk PT 2,631,000 6,624,244 0.1% United Tractors Tbk PT 6,329,846 9,614,982 0.1% Vale Indonesia Tbk PT 24,182,050 7,578,319 0.1% * Visi Media Asia Tbk PT 16,596,900 630,490 0.0% Waskita Karya Persero Tbk PT 8,946,800 718,289 0.0% Wijaya Karya Persero Tbk PT 17,251,800 4,084,858 0.0% XL Axiata Tbk PT 13,296,800 6,080,626 0.1% ----------------- --------------- TOTAL INDONESIA 479,109,141 3.0% ----------------- --------------- MALAYSIA -- (4.3%) # Aeon Co. M Bhd 2,209,300 2,518,231 0.0% # Aeon Credit Service M Bhd 88,560 423,845 0.0% Affin Holdings Bhd 3,282,800 3,225,887 0.0% # AirAsia Bhd 8,517,800 6,474,719 0.1% # Alam Maritim Resources Bhd 2,470,300 827,953 0.0% Alliance Financial Group Bhd 6,286,300 9,162,107 0.1% Amcorp Properties Bhd 108,700 30,913 0.0% AMMB Holdings Bhd 8,783,050 18,108,765 0.1% Amway Malaysia Hldgs Bhd 109,600 387,764 0.0% Ann Joo Resources Bhd 974,750 356,204 0.0% APM Automotive Holdings Bhd 174,800 297,540 0.0% Astro Malaysia Holdings Bhd 4,036,300 4,050,937 0.0% Axiata Group Bhd 7,792,125 16,703,940 0.1% Batu Kawan Bhd 368,750 2,067,688 0.0% Benalec Holdings Bhd 5,119,100 1,346,300 0.0% Berjaya Assets Bhd 156,600 41,912 0.0% Berjaya Corp. Bhd 17,171,600 2,662,628 0.0% Berjaya Land Bhd 2,769,200 707,490 0.0% Berjaya Sports Toto Bhd 3,774,397 4,142,861 0.0% # BIMB Holdings Bhd 2,753,647 3,578,529 0.0% Bonia Corp. Bhd 4,050,400 1,402,861 0.0% Boustead Holdings Bhd 2,386,292 3,664,505 0.0% Boustead Plantations Bhd 477,200 220,463 0.0% British American Tobacco Malaysia Bhd 392,800 8,305,287 0.1% #* Bumi Armada Bhd 6,759,750 3,228,050 0.0% Bursa Malaysia Bhd 1,601,400 3,941,077 0.0% # Cahya Mata Sarawak Bhd 4,244,400 5,593,517 0.1% Can-One Bhd 216,800 160,206 0.0% Carlsberg Brewery Malaysia Bhd Class B 771,500 2,603,816 0.0% Carotech Bhd 44,425 54 0.0% CB Industrial Product Holding Bhd 2,887,720 2,115,563 0.0% # CIMB Group Holdings Bhd 16,420,057 32,423,718 0.2% # Coastal Contracts Bhd 1,349,177 1,639,390 0.0% Crescendo Corp. Bhd 13,000 11,071 0.0% CSC Steel Holdings Bhd 470,500 158,678 0.0% Cypark Resources Bhd 1,283,900 1,014,932 0.0% Daibochi Plastic & Packaging Industry Bhd 31,400 40,865 0.0% * Daya Materials Bhd 14,892,600 1,111,694 0.0% # Dayang Enterprise Holdings Bhd 1,676,112 1,497,738 0.0% # Dialog Group Bhd 11,811,084 5,826,070 0.1% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- MALAYSIA -- (Continued) # DiGi.Com Bhd 7,238,820 $ 13,626,612 0.1% DKSH Holdings Malaysia Bhd 184,200 347,107 0.0% # DRB-Hicom Bhd 8,726,700 5,651,277 0.1% Dutch Lady Milk Industries Bhd 61,200 865,192 0.0% Eastern & Oriental Bhd 7,676,182 6,537,402 0.1% * ECM Libra Financial Group Bhd 318,034 97,680 0.0% Engtex Group Bhd 277,500 163,780 0.0% * Evergreen Fibreboard Bhd 741,700 120,638 0.0% Eversendai Corp. Bhd 183,400 45,090 0.0% Faber Group Bhd 1,705,000 1,681,698 0.0% * Fountain View Development Bhd 31,500 -- 0.0% Fraser & Neave Holdings Bhd 207,500 1,008,376 0.0% # Gamuda Bhd 7,835,500 12,209,483 0.1% Genting Bhd 5,284,400 15,666,470 0.1% # Genting Malaysia Bhd 11,906,800 15,571,166 0.1% # Genting Plantations Bhd 1,078,900 3,468,578 0.0% Globetronics Technology Bhd 1,334,520 1,837,700 0.0% Glomac Bhd 3,352,800 1,131,079 0.0% * Goldis Bhd 478,372 370,947 0.0% * Green Packet Bhd 2,607,500 277,654 0.0% * Guan Chong Bhd 103,300 34,529 0.0% Guinness Anchor Bhd 567,400 2,232,558 0.0% GuocoLand Malaysia Bhd 844,000 403,383 0.0% Hai-O Enterprise Bhd 649,700 511,625 0.0% # HAP Seng Consolidated Bhd 6,477,940 8,669,545 0.1% Hap Seng Plantations Holdings Bhd 1,441,000 1,134,483 0.0% # Hartalega Holdings Bhd 1,252,600 2,665,989 0.0% Hiap Teck Venture Bhd 444,600 100,136 0.0% * Ho Wah Genting Bhd 1,858,500 101,438 0.0% Hock Seng LEE BHD 936,012 557,166 0.0% # Hong Leong Bank Bhd 1,899,160 8,443,319 0.1% Hong Leong Financial Group Bhd 838,700 4,614,895 0.0% Hong Leong Industries Bhd 381,700 555,280 0.0% Hovid Bhd 2,544,100 305,645 0.0% Hua Yang Bhd 1,044,133 736,159 0.0% * Hubline Bhd 209,100 2,543 0.0% * Hume Industries Bhd 412,236 501,058 0.0% Hup Seng Industries Bhd 169,600 51,554 0.0% Hwang Capital Malaysia Bhd 162,500 95,321 0.0% IGB Corp. Bhd 5,062,499 4,433,666 0.0% IJM Corp. Bhd 9,299,963 19,553,090 0.1% IJM Land Bhd 2,993,300 3,128,557 0.0% # IJM Plantations Bhd 1,169,200 1,276,327 0.0% # Inari Amertron Bhd 1,077,800 983,298 0.0% Inch Kenneth Kajang Rubber 113,000 27,972 0.0% # Insas Bhd 4,477,102 1,498,436 0.0% Integrax Bhd 229,000 151,137 0.0% IOI Corp. Bhd 8,159,777 12,131,185 0.1% IOI Properties Group Bhd 2,840,688 2,375,772 0.0% Iris Corp. Bhd 8,268,500 892,995 0.0% * Iskandar Waterfront City Bhd 3,729,400 1,691,172 0.0% * JAKS Resources Bhd 4,007,500 797,880 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- MALAYSIA -- (Continued) # Jaya Tiasa Holdings Bhd 1,821,239 $ 1,174,785 0.0% # JCY International Bhd 4,251,000 743,460 0.0% * K&N Kenanga Holdings Bhd 1,779,386 351,819 0.0% * Karambunai Corp. Bhd 4,574,700 118,466 0.0% Keck Seng Malaysia Bhd 316,300 582,044 0.0% Kian JOO CAN Factory Bhd 1,772,080 1,557,092 0.0% Kim Loong Resources Bhd 259,020 222,125 0.0% Kimlun Corp. Bhd 701,700 298,649 0.0% * Kinsteel Bhd 784,600 53,760 0.0% KLCCP Stapled Group 1,100,800 2,302,301 0.0% * KNM Group Bhd 10,846,068 2,653,804 0.0% # Kossan Rubber Industries 2,600,400 3,637,374 0.0% # KPJ Healthcare Bhd 2,789,775 3,316,528 0.0% * Kretam Holdings Bhd 3,250,300 508,817 0.0% #* KSL Holdings Bhd 1,804,666 2,481,928 0.0% Kuala Lumpur Kepong Bhd 1,301,122 9,096,735 0.1% * KUB Malaysia Bhd 1,459,400 224,214 0.0% * Kulim Malaysia Bhd 3,059,500 3,179,090 0.0% #* Kumpulan Europlus Bhd 1,411,400 450,774 0.0% Kumpulan Fima Bhd 909,400 575,199 0.0% Kumpulan Perangsang Selangor Bhd 2,621,700 1,259,802 0.0% Kwantas Corp. Bhd 23,900 14,537 0.0% Lafarge Malaysia Bhd 1,754,600 5,589,115 0.1% Land & General Bhd 5,547,900 961,986 0.0% * Landmarks Bhd 1,303,092 479,678 0.0% LBS Bina Group Bhd 2,282,700 1,145,500 0.0% Lingkaran Trans Kota Holdings Bhd 603,500 715,511 0.0% Lion Diversified Holdings Bhd 181,300 7,161 0.0% Lion Industries Corp. Bhd 4,272,600 792,239 0.0% LPI Capital Bhd 67,700 375,840 0.0% Magnum Bhd 549,400 499,418 0.0% # Mah Sing Group Bhd 5,711,447 4,132,565 0.0% Malayan Banking Bhd 16,366,740 48,283,910 0.3% Malayan Flour Mills Bhd 1,196,900 680,848 0.0% # Malaysia Airports Holdings Bhd 2,998,415 6,582,497 0.1% # Malaysia Building Society Bhd 1,181,717 930,035 0.0% # Malaysia Marine and Heavy Engineering Holdings Bhd 1,886,100 1,301,057 0.0% #* Malaysian Airline System Bhd 18,989,630 1,473,371 0.0% Malaysian Bulk Carriers Bhd 4,025,923 1,910,238 0.0% Malaysian Pacific Industries Bhd 484,225 777,416 0.0% # Malaysian Resources Corp. Bhd 10,157,300 4,879,870 0.1% Malton Bhd 1,516,700 489,306 0.0% # Matrix Concepts Holdings Bhd 301,800 275,448 0.0% # Maxis Bhd 4,771,315 9,778,316 0.1% MBM Resources Bhd 967,410 841,405 0.0% Media Chinese International, Ltd. 905,600 256,083 0.0% # Media Prima Bhd 4,803,620 2,862,534 0.0% Mega First Corp. Bhd 192,300 151,488 0.0% # MISC Bhd 3,046,360 6,355,611 0.1% MK Land Holdings BHD 5,362,200 774,900 0.0% MKH Bhd 1,088,167 1,111,234 0.0% # MMC Corp. Bhd 6,239,300 5,009,149 0.1% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- MALAYSIA -- (Continued) MNRB Holdings Bhd 924,900 $ 1,240,721 0.0% * MPHB Capital Bhd 73,200 53,651 0.0% Muda Holdings Bhd 292,100 152,364 0.0% # Mudajaya Group Bhd 2,521,733 1,594,719 0.0% # Muhibbah Engineering M Bhd 3,221,800 2,840,356 0.0% #* Mulpha International Bhd 15,149,800 1,958,289 0.0% # My EG Services Bhd 1,769,200 2,162,156 0.0% # Naim Holdings Bhd 1,587,000 1,648,588 0.0% NCB Holdings Bhd 149,900 109,830 0.0% Nestle Malaysia Bhd 94,200 1,961,760 0.0% NTPM Holdings Bhd 674,100 145,545 0.0% Oldtown Bhd 1,594,125 862,945 0.0% Oriental Holdings Bhd 606,340 1,347,138 0.0% # OSK Holdings Bhd 3,441,545 2,346,952 0.0% Padini Holdings Bhd 3,330,200 1,863,648 0.0% Panasonic Manufacturing Malaysia Bhd 70,200 405,536 0.0% Pantech Group Holdings Bhd 912,800 270,177 0.0% Paramount Corp. Bhd 609,325 278,012 0.0% #* Parkson Holdings Bhd 3,214,484 2,463,961 0.0% #* Perdana Petroleum Bhd 3,272,500 1,611,884 0.0% #* Perisai Petroleum Teknologi Bhd 4,523,400 1,527,341 0.0% # Petronas Chemicals Group Bhd 6,980,700 13,045,098 0.1% # Petronas Dagangan Bhd 777,800 4,830,247 0.1% Petronas Gas Bhd 1,367,708 9,378,495 0.1% Pharmaniaga Bhd 368,280 517,451 0.0% Pie Industrial Bhd 74,040 150,810 0.0% PJ Development Holdings Bhd 1,471,800 702,864 0.0% # Pos Malaysia Bhd 2,132,000 3,274,431 0.0% Power Root Bhd 131,500 69,974 0.0% PPB Group Bhd 2,437,500 11,723,089 0.1% Press Metal Bhd 1,211,200 2,436,152 0.0% # Prestariang Bhd 1,991,200 1,029,452 0.0% Protasco Bhd 627,900 292,319 0.0% # Public Bank Bhd 3,991,611 22,503,455 0.2% #* Puncak Niaga Holding Bhd 926,160 932,142 0.0% # QL Resources Bhd 2,303,060 2,409,618 0.0% RCE Capital Bhd 840,450 85,623 0.0% RHB Capital Bhd 4,711,420 12,602,855 0.1% * Rimbunan Sawit Bhd 832,100 168,333 0.0% # Salcon Bhd 4,889,900 1,100,520 0.0% # Sapurakencana Petroleum Bhd 12,203,488 12,650,861 0.1% Sarawak Oil Palms Bhd 479,360 838,149 0.0% Sarawak Plantation Bhd 18,900 13,621 0.0% Scientex Bhd 290,264 631,079 0.0% * Scomi Energy Services Bhd 4,491,200 1,031,630 0.0% #* Scomi Group Bhd 9,803,800 1,040,671 0.0% * Seal, Inc. BHD 709,100 218,006 0.0% # SEG International Bhd 311,400 138,401 0.0% Selangor Dredging Bhd 366,400 121,415 0.0% Selangor Properties Bhd 63,100 112,497 0.0% Shangri-La Hotels Malaysia Bhd 373,100 799,823 0.0% * Shell Refining Co. Federation of Malaya Bhd 233,300 407,284 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- MALAYSIA -- (Continued) SHL Consolidated Bhd 202,800 $ 213,392 0.0% # Sime Darby Bhd 8,658,338 25,480,363 0.2% # SP Setia Bhd Group 1,790,746 1,790,149 0.0% Star Publications Malaysia Bhd 1,108,800 869,712 0.0% Subur Tiasa Holdings Bhd 91,410 59,692 0.0% # Sunway Bhd 4,740,293 4,973,792 0.1% # Supermax Corp. Bhd 3,578,650 2,536,611 0.0% Suria Capital Holdings Bhd 279,650 221,194 0.0% # Syarikat Takaful Malaysia Bhd 343,300 1,242,106 0.0% Symphony Life Bhd 321,132 102,631 0.0% # Ta Ann Holdings Bhd 648,686 759,315 0.0% TA Enterprise Bhd 9,647,300 2,553,005 0.0% TA Global Bhd 4,685,440 498,945 0.0% * Talam Transform Bhd 6,754,300 216,074 0.0% Tambun Indah Land Bhd 1,707,800 1,277,813 0.0% # TAN Chong Motor Holdings Bhd 1,229,200 1,547,125 0.0% * Tanjung Offshore Bhd 1,070,400 149,030 0.0% Tasek Corp. Bhd 38,700 196,360 0.0% # TDM Bhd 7,074,800 1,990,509 0.0% # Telekom Malaysia Bhd 3,071,549 6,725,117 0.1% Tenaga Nasional Bhd 6,071,381 24,666,563 0.2% #* TH Heavy Engineering Bhd 5,020,034 974,602 0.0% # TH Plantations Bhd 1,175,640 604,362 0.0% #* Time dotCom Bhd 1,420,660 2,237,144 0.0% Tiong NAM Logistics Holdings 1,117,900 377,424 0.0% # Top Glove Corp. Bhd 2,477,180 3,685,349 0.0% Tropicana Corp. Bhd 4,296,400 1,711,282 0.0% # TSH Resources Bhd 2,724,750 1,971,598 0.0% # Tune Ins Holdings Bhd 524,900 346,421 0.0% Uchi Technologies Bhd 1,087,300 466,306 0.0% # UEM Sunrise Bhd 8,150,945 4,659,796 0.1% UMW Holdings Bhd 2,850,706 10,134,296 0.1% Unisem M Bhd 3,678,620 1,890,035 0.0% United Malacca Bhd 197,950 410,562 0.0% United Plantations Bhd 159,400 1,240,868 0.0% United U-Li Corp. BHD 122,600 64,185 0.0% UOA Development Bhd 1,597,700 1,029,006 0.0% * Uzma Bhd 566,600 594,624 0.0% VS Industry Bhd 223,608 168,707 0.0% Wah Seong Corp. Bhd 1,774,819 895,048 0.0% # WCT Holdings Bhd 5,224,769 3,450,635 0.0% Wellcall Holdings Bhd 530,500 263,018 0.0% Wing Tai Malaysia Bhd 378,400 230,009 0.0% WTK Holdings Bhd 3,043,650 1,148,090 0.0% # Yinson Holdings BHD 1,195,600 1,058,046 0.0% YNH Property Bhd 2,228,131 1,401,999 0.0% # YTL Corp. Bhd 30,319,120 15,304,517 0.1% YTL E-Solutions Bhd 747,100 135,191 0.0% * YTL Land & Development Bhd 1,074,000 298,830 0.0% YTL Power International Bhd 8,742,066 4,226,201 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- MALAYSIA -- (Continued) Zhulian Corp. Bhd 969,166 $ 631,272 0.0% ----------------- -------------- TOTAL MALAYSIA 729,419,701 4.6% ----------------- -------------- MEXICO -- (5.0%) Alfa S.A.B. de C.V. Class A 12,848,389 41,017,525 0.3% # Alpek S.A.B. de C.V. 772,146 1,358,943 0.0% #* Alsea S.A.B. de C.V. 2,785,745 8,731,926 0.1% # America Movil S.A.B. de C.V. Series L 16,194,778 19,807,147 0.1% # America Movil S.A.B. de C.V. Series L ADR 3,035,166 74,088,401 0.5% # Arca Continental S.A.B. de C.V. 1,817,916 11,704,321 0.1% #* Axtel S.A.B. de C.V. 7,168,643 1,911,106 0.0% Banregio Grupo Financiero S.A.B. de C.V. 1,098,674 6,363,804 0.0% #* Bio Pappel S.A.B. de C.V. 197,498 391,586 0.0% # Bolsa Mexicana de Valores S.A.B. de C.V. 2,662,924 5,598,246 0.0% * Cemex S.A.B. de C.V. 5,969,081 7,358,154 0.1% #* Cemex S.A.B. de C.V. Sponsored ADR 6,484,813 79,763,198 0.5% Cia Minera Autlan S.A.B. de C.V. Series B 533,561 601,860 0.0% Coca-Cola Femsa S.A.B. de C.V. Series L 84,415 893,970 0.0% Coca-Cola Femsa S.A.B. de C.V. Sponsored ADR 97,205 10,284,289 0.1% # Compartamos S.A.B. de C.V. 2,050,744 4,568,630 0.0% #* Consorcio ARA S.A.B. de C.V. Series * 7,482,950 3,411,886 0.0% # Controladora Comercial Mexicana S.A.B. de C.V. 3,783,904 14,968,426 0.1% Corp. Actinver S.A.B. de C.V. 34,049 41,366 0.0% #* Corp. GEO S.A.B. de C.V. Series B 3,284,556 25,045 0.0% # Corp. Inmobiliaria Vesta S.A.B. de C.V. 659,619 1,449,900 0.0% #* Corp. Interamericana de Entretenimiento S.A.B. de C.V. Class B 222,600 147,945 0.0% Corp. Moctezuma S.A.B. de C.V. Series * 392,200 1,317,017 0.0% Cydsa S.A.B. de C.V. 6,129 15,015 0.0% #* Desarrolladora Homex S.A.B. de C.V. 440,873 73,479 0.0% * Dine S.A.B. de C.V. 7,300 3,909 0.0% # El Puerto de Liverpool S.A.B. de C.V. 620,599 7,276,902 0.0% #* Empresas ICA S.A.B. de C.V. 4,886,352 8,690,477 0.1% #* Empresas ICA S.A.B. de C.V. Sponsored ADR 590,827 4,212,596 0.0% #* Financiera Independencia S.A.B. de C.V. 246,788 127,369 0.0% # Fomento Economico Mexicano S.A.B. de C.V. 357,700 3,445,979 0.0% Fomento Economico Mexicano S.A.B. de C.V. Sponsored ADR 599,632 57,708,584 0.4% #* Genomma Lab Internacional S.A.B. de C.V. Class B 4,980,403 12,615,357 0.1% #* Gruma S.A.B. de C.V. Class B 1,688,397 18,547,448 0.1% * Gruma S.A.B. de C.V. Sponsored ADR 6,300 277,074 0.0% #* Grupo Aeromexico S.A.B. de C.V. 337,885 528,673 0.0% # Grupo Aeroportuario del Centro Norte S.A.B. de C.V. 1,015,034 5,035,126 0.0% Grupo Aeroportuario del Centro Norte S.A.B. de C.V. ADR 100 3,960 0.0% Grupo Aeroportuario del Pacifico S.A.B. de C.V. ADR 178,369 12,155,847 0.1% Grupo Aeroportuario del Pacifico S.A.B. de C.V. Class B 1,255,174 8,572,420 0.1% Grupo Aeroportuario del Sureste S.A.B. de C.V. ADR 64,520 8,689,554 0.1% Grupo Aeroportuario del Sureste S.A.B. de C.V. Class B 955,199 12,877,852 0.1% # Grupo Bimbo S.A.B. de C.V. Series A 5,028,732 14,787,917 0.1% Grupo Carso S.A.B. de C.V. Series A1 2,438,535 13,860,241 0.1% Grupo Cementos de Chihuahua S.A.B. de C.V. 211,154 548,651 0.0% # Grupo Comercial Chedraui S.A. de C.V. 1,671,279 5,795,877 0.0% # Grupo Elektra S.A.B. de C.V. 41,756 1,587,604 0.0% #* Grupo Famsa S.A.B. de C.V. Class A 2,208,886 2,296,438 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- MEXICO -- (Continued) Grupo Financiero Banorte S.A.B. de C.V. 8,504,555 $ 54,502,411 0.3% Grupo Financiero Inbursa S.A.B. de C.V. 7,546,226 22,768,266 0.1% Grupo Financiero Interacciones S.A. de C.V. 13,488 110,148 0.0% # Grupo Financiero Santander Mexico S.A.B. de C.V. Class B 1,025,339 2,733,476 0.0% Grupo Financiero Santander Mexico S.A.B. de C.V. Class B ADR 675,290 8,981,357 0.1% Grupo Gigante S.A.B. de C.V. Series * 41,000 123,308 0.0% # Grupo Herdez S.A.B. de C.V. Series * 889,876 2,286,435 0.0% Grupo Industrial Maseca S.A.B. de C.V. Class B 60,400 94,191 0.0% Grupo Industrial Saltillo S.A.B. de C.V. 72,099 181,984 0.0% Grupo KUO S.A.B. de C.V. Series B 265,425 579,682 0.0% # Grupo Mexico S.A.B. de C.V. Series B 16,098,780 55,411,005 0.4% #* Grupo Pochteca S.A.B. de C.V. 376,611 415,031 0.0% # Grupo Sanborns S.A.B. de C.V. 57,764 92,225 0.0% #* Grupo Simec S.A.B. de C.V. Series B 1,072,975 4,731,329 0.0% #* Grupo Simec S.A.B. de C.V. Sponsored ADR 6,406 83,086 0.0% * Grupo Sports World S.A.B. de C.V. 147,021 278,402 0.0% Grupo Televisa S.A.B. Series CPO 1,306,744 9,467,071 0.1% Grupo Televisa S.A.B. Sponsored ADR 1,810,392 65,427,567 0.4% #* Impulsora del Desarrollo y El Empleo en America Latina S.A.B. de C.V. 2,206,650 6,934,776 0.0% Industrias Bachoco S.A.B. de C.V. ADR 19,113 1,168,760 0.0% # Industrias Bachoco S.A.B. de C.V. Series B 137,483 699,041 0.0% #* Industrias CH S.A.B. de C.V. Series B 1,314,361 7,201,229 0.0% Industrias Penoles S.A.B. de C.V. 408,913 9,261,559 0.1% # Infraestructura Energetica Nova S.A.B. de C.V. 457,000 2,788,239 0.0% * Inmuebles Carso S.A.B. de C.V. 2,196,725 2,406,141 0.0% # Kimberly-Clark de Mexico S.A.B. de C.V. Class A 5,218,939 12,146,035 0.1% #* Maxcom Telecomunicaciones S.A.B. de C.V. 1,187,809 211,695 0.0% # Megacable Holdings S.A.B. de C.V. 391,336 1,791,871 0.0% # Mexichem S.A.B. de C.V. 5,770,885 23,604,221 0.2% #* Minera Frisco S.A.B. de C.V. 1,207,442 2,134,011 0.0% #* OHL Mexico S.A.B. de C.V. 2,653,723 7,447,076 0.1% # Organizacion Cultiba S.A.B. de C.V. 125,400 197,884 0.0% # Organizacion Soriana S.A.B. de C.V. Class B 3,410,725 11,172,159 0.1% #* Promotora y Operadora de Infraestructura S.A.B. de C.V. 1,493,036 20,594,556 0.1% # Qualitas Controladora S.A.B. de C.V. 227,799 592,070 0.0% * Sanluis Corp. S.A.B. de C.V. 5,300 18,774 0.0% # TV Azteca S.A.B. de C.V. 4,247,863 2,220,734 0.0% #* Urbi Desarrollos Urbanos S.A.B. de C.V. 1,795,501 539 0.0% #* Vitro S.A.B. de C.V. Series A 199,142 511,081 0.0% # Wal-Mart de Mexico S.A.B. de C.V. Series V 12,465,499 28,909,127 0.2% ----------------- -------------- TOTAL MEXICO 865,817,592 5.5% ----------------- -------------- PERU -- (0.1%) Cementos Pacasmayo SAA ADR 10,258 92,322 0.0% Cia de Minas Buenaventura SAA ADR 157,651 1,450,389 0.0% Credicorp, Ltd. 130,816 21,061,376 0.2% Grana y Montero SAA Sponsored ADR 26,218 359,711 0.0% #* Rio Alto Mining, Ltd. 156,309 334,501 0.0% ----------------- -------------- TOTAL PERU 23,298,299 0.2% ----------------- -------------- PHILIPPINES -- (1.3%) A Soriano Corp. 818,000 128,371 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- PHILIPPINES -- (Continued) Aboitiz Equity Ventures, Inc. 4,558,050 $ 5,283,732 0.0% Aboitiz Power Corp. 5,208,500 4,759,317 0.0% Alliance Global Group, Inc. 24,695,294 13,917,961 0.1% Alsons Consolidated Resources, Inc. 1,639,000 70,871 0.0% Atlas Consolidated Mining & Development 2,931,100 782,749 0.0% Ayala Corp. 598,485 9,198,596 0.1% Ayala Land, Inc. 10,616,720 7,933,055 0.1% Bank of the Philippine Islands 2,992,203 6,340,461 0.1% BDO Unibank, Inc. 4,810,419 10,500,068 0.1% Belle Corp. 19,996,700 2,333,137 0.0% Cebu Air, Inc. 1,166,910 1,911,690 0.0% Cebu Holdings, Inc. 2,065,000 237,213 0.0% Century Properties Group, Inc. 630,999 15,202 0.0% China Banking Corp. 743,148 813,099 0.0% COL Financial Group, Inc. 133,700 43,241 0.0% D&L Industries, Inc. 1,470,100 448,482 0.0% DMCI Holdings, Inc. 20,547,600 7,423,133 0.1% * East West Banking Corp. 19,300 11,140 0.0% EEI Corp. 2,414,300 601,941 0.0% * Empire East Land Holdings, Inc. 22,778,000 446,636 0.0% Energy Development Corp. 46,648,700 8,002,568 0.1% Filinvest Development Corp. 89,300 9,034 0.0% Filinvest Land, Inc. 96,449,687 3,311,514 0.0% First Gen Corp. 7,700,900 4,441,900 0.0% First Philippine Holdings Corp. 1,899,420 3,681,344 0.0% Globe Telecom, Inc. 131,465 4,936,163 0.0% International Container Terminal Services, Inc. 3,368,262 8,703,229 0.1% JG Summit Holdings, Inc. 1,732,470 2,461,974 0.0% Jollibee Foods Corp. 1,574,967 6,878,056 0.1% Leisure & Resorts World Corp. 557,020 119,109 0.0% * Lepanto Consolidated Mining Co. 25,593,207 188,393 0.0% Lopez Holdings Corp. 14,209,200 2,105,236 0.0% LT Group, Inc. 3,547,500 1,125,283 0.0% Manila Electric Co. 491,930 2,871,799 0.0% Manila Water Co., Inc. 4,596,300 2,958,017 0.0% * Megawide Construction Corp. 1,504,280 298,704 0.0% Megaworld Corp. 105,685,600 11,679,374 0.1% * Metro Pacific Corp. Series A 225,000 -- 0.0% Metro Pacific Investments Corp. 51,293,100 5,804,686 0.1% Metropolitan Bank & Trust Co. 3,361,568 6,180,270 0.1% * Pepsi-Cola Products Philippines, Inc. 8,605,791 895,736 0.0% Petron Corp. 22,700 5,973 0.0% Philex Mining Corp. 770,250 156,210 0.0% * Philex Petroleum Corp. 75,900 10,901 0.0% Philippine Long Distance Telephone Co. 77,415 5,413,107 0.0% # Philippine Long Distance Telephone Co. Sponsored ADR 78,651 5,515,795 0.0% * Philippine National Bank 1,691,003 3,184,319 0.0% Philippine Stock Exchange, Inc. (The) 84,552 547,226 0.0% * Philtown Properties, Inc. 16,675 -- 0.0% Philweb Corp. 2,051,840 242,873 0.0% Phoenix Petroleum Philippines, Inc. 986,570 89,643 0.0% Puregold Price Club, Inc. 1,400,900 1,080,611 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- PHILIPPINES -- (Continued) RFM Corp. 5,730,300 $ 637,040 0.0% Rizal Commercial Banking Corp. 1,776,005 2,098,146 0.0% Robinsons Land Corp. 10,596,350 5,796,560 0.0% San Miguel Corp. 2,005,490 3,242,749 0.0% San Miguel Pure Foods Co., Inc. 6,360 32,672 0.0% Security Bank Corp. 1,684,388 5,394,100 0.0% Semirara Mining and Power Corp. 1,321,530 3,564,304 0.0% Shang Properties, Inc. 86,601 6,290 0.0% SM Investments Corp. 748,787 13,074,248 0.1% SM Prime Holdings, Inc. 21,695,490 8,450,536 0.1% * Top Frontier Investment Holdings, Inc. 153,057 374,631 0.0% Trans-Asia Oil & Energy Development Corp. 12,581,000 673,334 0.0% Union Bank of the Philippines 841,410 2,206,503 0.0% Universal Robina Corp. 2,988,800 12,380,239 0.1% Vista Land & Lifescapes, Inc. 29,159,100 3,996,481 0.0% ----------------- -------------- TOTAL PHILIPPINES 228,026,975 1.5% ----------------- -------------- POLAND -- (1.8%) * AB SA 2,455 22,622 0.0% ABC Data SA 81,105 92,212 0.0% Action SA 10,630 146,802 0.0% * Agora SA 177,116 422,919 0.0% * Alchemia SA 275,173 409,451 0.0% #* Alior Bank SA 100,064 2,224,268 0.0% # Amica Wronki SA 5,174 165,063 0.0% * AmRest Holdings SE 37,166 982,611 0.0% Apator SA 27,085 301,689 0.0% Asseco Poland SA 514,658 7,639,913 0.1% ATM SA 24,831 85,793 0.0% Bank Handlowy w Warszawie SA 189,501 6,407,313 0.1% # Bank Millennium SA 2,849,668 7,067,188 0.1% Bank Pekao SA 437,028 22,873,340 0.2% Bank Zachodni WBK SA 73,730 8,359,742 0.1% * Bioton SA 189,840 236,852 0.0% #* Boryszew SA 1,461,478 2,778,410 0.0% Budimex SA 48,659 1,942,531 0.0% CCC SA 74,890 2,872,227 0.0% #* CD Projekt SA 538,199 2,670,109 0.0% Ciech SA 274,143 3,309,597 0.0% * Colian SA 52,481 46,500 0.0% ComArch SA 7,881 223,240 0.0% Cyfrowy Polsat SA 587,593 4,498,490 0.0% Dom Development SA 9,946 133,453 0.0% Eko Export SA 37,170 326,438 0.0% Elektrobudowa SA 2,716 62,752 0.0% Emperia Holding SA 49,020 699,998 0.0% Enea SA 477,316 2,269,432 0.0% # Eurocash SA 362,154 3,560,553 0.0% Fabryki Mebli Forte SA 54,448 921,208 0.0% Famur SA 111,442 109,895 0.0% * Farmacol SA 36,912 557,359 0.0% Firma Oponiarska Debica SA 10,995 353,905 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- POLAND -- (Continued) #* Getin Holding SA 1,654,967 $ 1,199,454 0.0% * Getin Noble Bank SA 3,999,973 3,090,868 0.0% * Global City Holdings NV 33,245 383,669 0.0% Grupa Azoty SA 130,219 2,424,412 0.0% Grupa Azoty Zaklady Chemiczne Police SA 17,834 114,691 0.0% Grupa Kety SA 27,403 2,263,929 0.0% * Grupa Lotos SA 514,539 3,974,925 0.0% #* Hawe SA 1,003,528 701,036 0.0% * Impexmetal SA 797,201 639,120 0.0% # ING Bank Slaski SA 128,243 5,305,080 0.0% #* Integer.pl SA 4,780 284,224 0.0% # Inter Cars SA 5,573 337,660 0.0% #* Jastrzebska Spolka Weglowa SA 125,430 1,077,896 0.0% * Kernel Holding SA 261,867 2,068,154 0.0% KGHM Polska Miedz SA 726,912 28,035,792 0.2% * Kopex SA 146,978 497,623 0.0% * KRUK SA 10,863 347,607 0.0% * LC Corp. SA 590,468 317,239 0.0% Lentex SA 51,368 129,423 0.0% # LPP SA 2,754 8,221,635 0.1% Lubelski Wegiel Bogdanka SA 207,860 6,899,873 0.1% # mBank 74,252 10,991,734 0.1% * MCI Management SA 140,923 422,099 0.0% * Midas SA 677,353 122,511 0.0% * Mostostal Zabrze SA 324,876 216,166 0.0% Netia SA 1,590,719 2,630,287 0.0% Neuca SA 10,624 701,393 0.0% Orange Polska SA 3,223,659 9,659,466 0.1% Orbis SA 65,350 712,701 0.0% # Pelion SA 30,487 656,790 0.0% * Pfleiderer Grajewo SA 60,652 562,970 0.0% PGE SA 3,775,401 24,770,592 0.2% * Polimex-Mostostal SA 2,510,058 67,280 0.0% * Polnord SA 144,214 313,994 0.0% * Polski Koncern Miesny Duda SA 60,716 127,189 0.0% # Polski Koncern Naftowy Orlen SA 1,760,986 21,938,714 0.1% Polskie Gornictwo Naftowe i Gazownictwo SA 4,907,784 7,332,951 0.1% # Powszechna Kasa Oszczednosci Bank Polski SA 3,042,817 33,846,417 0.2% Powszechny Zaklad Ubezpieczen SA 140,536 21,086,020 0.1% * PZ Cormay SA 66,507 80,890 0.0% * Rafako SA 371,320 565,825 0.0% Rawlplug SA 14,359 33,176 0.0% * Rovese SA 1,118,697 487,920 0.0% * Stalexport Autostrady SA 312,145 254,904 0.0% Stalprodukt SA 4,961 405,306 0.0% * Sygnity SA 57,819 284,037 0.0% # Synthos SA 2,231,070 2,772,576 0.0% Tauron Polska Energia SA 4,756,682 7,429,119 0.1% #* Trakcja SA 1,958,472 646,432 0.0% #* TVN SA 808,389 3,625,574 0.0% * Vistula Group SA 214,914 108,428 0.0% Warsaw Stock Exchange 134,943 1,764,328 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- POLAND -- (Continued) Wawel SA 252 $ 68,897 0.0% Zespol Elektrowni Patnow Adamow Konin SA 12,565 117,577 0.0% ----------------- -------------- TOTAL POLAND 307,892,448 2.0% ----------------- -------------- RUSSIA -- (1.7%) Etalon Group, Ltd. GDR 538,300 1,668,510 0.0% Eurasia Drilling Co., Ltd. GDR 384,854 9,704,430 0.1% Gazprom OAO Sponsored ADR 11,798,088 78,171,913 0.5% Globaltrans Investment P.L.C. GDR 193,097 1,436,048 0.0% Lukoil OAO Sponsored ADR 779,820 38,226,252 0.2% * Magnitogorsk Iron & Steel Works OJSC GDR 676,687 1,924,482 0.0% * Mail.ru Group, Ltd. GDR 70,280 1,706,596 0.0% * Mechel Sponsored ADR 753,653 678,288 0.0% MegaFon OAO GDR 19,826 464,511 0.0% MMC Norilsk Nickel OJSC ADR 536,711 10,014,580 0.1% Novolipetsk Steel OJSC GDR 321,643 4,127,381 0.0% Novorossiysk Commercial Sea Port PJSC GDR 95,020 257,007 0.0% O'Key Group SA GDR 71,285 429,489 0.0% Phosagro OAO GDR 120,563 1,296,263 0.0% * PIK Group GDR 669,603 2,375,640 0.0% Rosneft OAO GDR 2,658,275 14,794,922 0.1% Rostelecom OJSC Sponsored ADR 139,327 2,087,326 0.0% RusHydro JSC ADR 4,658,684 7,789,408 0.1% Sberbank of Russia Sponsored ADR 3,913,332 29,799,788 0.2% Severstal OAO GDR 732,289 7,756,572 0.1% Tatneft OAO Sponsored ADR 864,302 30,892,638 0.2% TMK OAO GDR 80,338 633,166 0.0% Uralkali OJSC GDR 769,997 13,776,647 0.1% VimpelCom, Ltd. Sponsored ADR 1,152,455 7,467,909 0.0% VTB Bank OJSC GDR(46630Q202) 9,793 18,499 0.0% VTB Bank OJSC GDR(B1W7FX909) 5,966,719 11,301,956 0.1% * X5 Retail Group NV GDR 315,274 5,778,503 0.0% ----------------- -------------- TOTAL RUSSIA 284,578,724 1.8% ----------------- -------------- SOUTH AFRICA -- (7.3%) #* Adcock Ingram Holdings, Ltd. 649,823 2,913,295 0.0% Adcorp Holdings, Ltd. 204,450 630,348 0.0% Advtech, Ltd. 1,143,537 855,077 0.0% Aeci, Ltd. 809,288 9,074,441 0.1% # African Bank Investments, Ltd. 4,779,215 134,324 0.0% African Oxygen, Ltd. 489,155 860,191 0.0% African Rainbow Minerals, Ltd. 789,120 9,734,639 0.1% Allied Electronics Corp., Ltd. 118,970 223,899 0.0% * Anglo American Platinum, Ltd. 258,524 8,168,737 0.1% * AngloGold Ashanti, Ltd. 27,426 229,197 0.0% * AngloGold Ashanti, Ltd. Sponsored ADR 1,896,042 15,680,267 0.1% * ArcelorMittal South Africa, Ltd. 889,096 2,633,111 0.0% Aspen Pharmacare Holdings, Ltd. 784,256 28,018,456 0.2% Assore, Ltd. 118,619 2,203,179 0.0% # Astral Foods, Ltd. 242,239 3,330,238 0.0% #* Aveng, Ltd. 2,733,135 5,024,256 0.0% AVI, Ltd. 2,230,856 14,548,027 0.1% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- SOUTH AFRICA -- (Continued) Barclays Africa Group, Ltd. 1,325,863 $ 20,954,269 0.1% Barloworld, Ltd. 1,628,567 14,148,189 0.1% * Basil Read Holdings, Ltd. 143,266 63,594 0.0% * Bell Equipment, Ltd. 59,855 74,224 0.0% Bidvest Group, Ltd. (The) 1,505,451 41,432,531 0.3% Blue Label Telecoms, Ltd. 1,437,634 1,270,982 0.0% * Brait SE 723,079 5,435,153 0.0% Business Connexion Group, Ltd. 425,980 246,383 0.0% # Capitec Bank Holdings, Ltd. 246,638 6,511,633 0.1% # Cashbuild, Ltd. 130,905 1,841,797 0.0% Caxton and CTP Publishers and Printers, Ltd. 433,083 584,806 0.0% City Lodge Hotels, Ltd. 192,179 2,142,748 0.0% # Clicks Group, Ltd. 1,563,645 10,663,628 0.1% Clover Industries, Ltd. 47,402 84,844 0.0% * Consolidated Infrastructure Group, Ltd. 61,500 178,089 0.0% Coronation Fund Managers, Ltd. 1,067,911 9,246,402 0.1% Datacentrix Holdings, Ltd. 127,775 45,055 0.0% DataTec, Ltd. 1,097,588 5,525,335 0.0% Discovery, Ltd. 1,768,339 16,101,296 0.1% Distell Group, Ltd. 111,747 1,351,748 0.0% Distribution and Warehousing Network, Ltd. 162,578 109,146 0.0% DRDGOLD, Ltd. 2,032,518 565,573 0.0% # DRDGOLD, Ltd. Sponsored ADR 4,569 12,428 0.0% EOH Holdings, Ltd. 660,326 6,443,802 0.1% * Eqstra Holdings, Ltd. 599,553 281,573 0.0% * Evraz Highveld Steel and Vanadium, Ltd. 35,483 12,996 0.0% # Exxaro Resources, Ltd. 635,856 6,641,217 0.1% # Famous Brands, Ltd. 337,745 3,322,843 0.0% FirstRand, Ltd. 10,566,034 45,257,744 0.3% # Foschini Group, Ltd. (The) 1,227,324 13,874,305 0.1% Gold Fields, Ltd. 343,544 1,113,991 0.0% # Gold Fields, Ltd. Sponsored ADR 3,630,974 11,582,807 0.1% Grand Parade Investments, Ltd. 319,375 205,976 0.0% # Grindrod, Ltd. 2,921,193 5,989,181 0.0% Group Five, Ltd. 627,728 2,146,960 0.0% * Harmony Gold Mining Co., Ltd. 602,977 974,044 0.0% #* Harmony Gold Mining Co., Ltd. Sponsored ADR 2,251,939 3,648,141 0.0% Holdsport, Ltd. 48,566 200,650 0.0% Hudaco Industries, Ltd. 182,242 1,601,854 0.0% * Hulamin, Ltd. 429,927 266,114 0.0% Iliad Africa, Ltd. 329,671 206,340 0.0% Illovo Sugar, Ltd. 1,217,611 2,916,984 0.0% * Impala Platinum Holdings, Ltd. 2,244,994 16,374,215 0.1% Imperial Holdings, Ltd. 1,145,206 19,741,613 0.1% Investec, Ltd. 1,475,056 13,459,328 0.1% Invicta Holdings, Ltd. 40,892 375,604 0.0% #* JD Group, Ltd. 1,014,992 2,270,896 0.0% JSE, Ltd. 554,740 5,401,298 0.0% KAP Industrial Holdings, Ltd. 308,543 125,101 0.0% # Kumba Iron Ore, Ltd. 238,171 5,976,690 0.0% # Lewis Group, Ltd. 885,262 5,329,598 0.0% Liberty Holdings, Ltd. 619,492 7,168,792 0.1% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- SOUTH AFRICA -- (Continued) Life Healthcare Group Holdings, Ltd. 4,110,973 $ 15,546,051 0.1% # Massmart Holdings, Ltd. 439,967 4,756,168 0.0% Mediclinic International, Ltd. 1,610,820 14,400,547 0.1% Merafe Resources, Ltd. 4,538,265 419,649 0.0% Metair Investments, Ltd. 856,520 2,912,850 0.0% Metrofile Holdings, Ltd. 877 366 0.0% MMI Holdings, Ltd. 7,092,232 18,128,952 0.1% Mondi, Ltd. 635,805 10,647,318 0.1% Mpact, Ltd. 631,272 2,036,140 0.0% Mr Price Group, Ltd. 1,126,639 23,326,302 0.2% MTN Group, Ltd. 4,967,624 109,998,339 0.7% Murray & Roberts Holdings, Ltd. 2,531,525 5,200,322 0.0% Nampak, Ltd. 3,649,982 14,884,533 0.1% Naspers, Ltd. Class N 654,201 81,597,924 0.5% Nedbank Group, Ltd. 1,201,903 26,210,462 0.2% Netcare, Ltd. 5,410,249 16,368,087 0.1% * Northam Platinum, Ltd. 1,699,452 5,251,569 0.0% Nu-World Holdings, Ltd. 23,372 57,258 0.0% Oceana Group, Ltd. 140,763 969,663 0.0% Omnia Holdings, Ltd. 442,039 8,823,124 0.1% Peregrine Holdings, Ltd. 695,452 1,450,511 0.0% Petmin, Ltd. 187,477 28,056 0.0% # Pick n Pay Stores, Ltd. 1,106,364 5,350,911 0.0% Pinnacle Holdings, Ltd. 875,378 966,015 0.0% Pioneer Foods, Ltd. 434,076 4,683,617 0.0% PPC, Ltd. 3,420,276 9,175,853 0.1% PSG Group, Ltd. 588,584 6,140,420 0.1% * Quantum Foods Holdings 427,167 118,122 0.0% Raubex Group, Ltd. 308,397 622,824 0.0% RCL Foods, Ltd. 152,136 220,316 0.0% Resilient Property Income Fund, Ltd. 705,829 5,214,166 0.0% Reunert, Ltd. 863,272 4,556,212 0.0% * Royal Bafokeng Platinum, Ltd. 72,485 384,619 0.0% Sanlam, Ltd. 8,139,212 51,432,006 0.3% Santam, Ltd. 125,139 2,319,385 0.0% * Sappi, Ltd. 3,795,630 15,033,133 0.1% * Sappi, Ltd. Sponsored ADR 399,244 1,553,059 0.0% Sasol, Ltd. 994,736 49,672,340 0.3% Sasol, Ltd. Sponsored ADR 983,103 49,341,940 0.3% Shoprite Holdings, Ltd. 1,488,702 21,585,674 0.1% Sibanye Gold, Ltd. 1,568,573 2,955,478 0.0% Sibanye Gold, Ltd. Sponsored ADR 883,562 6,494,181 0.1% # Spar Group, Ltd. (The) 925,217 10,825,101 0.1% Spur Corp., Ltd. 444,240 1,255,340 0.0% # Standard Bank Group, Ltd. 4,181,964 52,662,521 0.3% * Stefanutti Stocks Holdings, Ltd. 186,764 113,381 0.0% # Steinhoff International Holdings, Ltd. 9,553,168 48,874,104 0.3% Sun International, Ltd. 658,771 7,379,114 0.1% * Super Group, Ltd. 2,436,940 6,978,006 0.1% * Telkom SA SOC, Ltd. 1,929,307 10,252,567 0.1% * Telkom SA SOC, Ltd. Sponsored ADR 24,334 515,881 0.0% Tiger Brands, Ltd. 501,309 15,088,821 0.1% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- SOUTH AFRICA -- (Continued) Times Media Group, Ltd. 74,593 $ 131,962 0.0% Tongaat Hulett, Ltd. 551,239 7,273,867 0.1% Trencor, Ltd. 534,087 3,220,972 0.0% # Truworths International, Ltd. 1,980,452 13,572,665 0.1% Tsogo Sun Holdings, Ltd. 1,114,411 2,797,508 0.0% Value Group, Ltd. 95,008 37,832 0.0% # Vodacom Group, Ltd. 842,622 10,230,517 0.1% * Wesizwe Platinum, Ltd. 19,767 1,720 0.0% Wilson Bayly Holmes-Ovcon, Ltd. 382,913 4,512,759 0.0% Woolworths Holdings, Ltd. 3,929,743 27,977,838 0.2% Zeder Investments, Ltd. 976,922 513,998 0.0% ----------------- -------------- TOTAL SOUTH AFRICA 1,250,813,128 8.0% ----------------- -------------- SOUTH KOREA -- (13.4%) #* 3S Korea Co., Ltd. 112,580 308,922 0.0% # Able C&C Co., Ltd. 30,691 658,131 0.0% #* Actoz Soft Co., Ltd. 24,345 719,345 0.0% #* Advanced Nano Products Co., Ltd. 9,941 163,050 0.0% #* Advanced Process Systems Corp. 76,585 477,801 0.0% Aekyung Petrochemical Co., Ltd. 6,151 422,502 0.0% # AfreecaTV Co., Ltd. 52,478 1,440,277 0.0% # Agabang&Company 150,357 1,162,818 0.0% Ahnlab, Inc. 24,000 811,557 0.0% #* AJ Rent A Car Co., Ltd. 40,000 634,945 0.0% # AK Holdings, Inc. 16,086 1,071,909 0.0% #* Aminologics Co., Ltd. 190,514 216,277 0.0% Amorepacific Corp. 7,202 15,464,422 0.1% AMOREPACIFIC Group 10,804 11,953,628 0.1% #* Amotech Co., Ltd. 44,100 364,743 0.0% #* Anam Electronics Co., Ltd. 248,480 178,491 0.0% # Anapass, Inc. 40,786 414,443 0.0% # Asia Cement Co., Ltd. 9,925 1,011,721 0.0% # ASIA Holdings Co., Ltd. 5,040 699,545 0.0% Asia Paper Manufacturing Co., Ltd. 30,414 842,304 0.0% * Asiana Airlines, Inc. 488,540 1,835,697 0.0% AtlasBX Co., Ltd. 35,829 1,307,554 0.0% * AUK Corp. 178,670 269,090 0.0% Autech Corp. 47,374 270,776 0.0% #* Avaco Co., Ltd. 40,816 137,396 0.0% # Baiksan Co., Ltd. 58,010 246,909 0.0% # Basic House Co., Ltd. (The) 33,820 605,913 0.0% #* BH Co., Ltd. 93,670 546,529 0.0% # BHI Co., Ltd. 23,864 299,393 0.0% #* BI EMT Co., Ltd. 53,654 47,378 0.0% # Binggrae Co., Ltd. 19,901 1,539,821 0.0% Bioland, Ltd. 36,801 844,504 0.0% # Bluecom Co., Ltd. 46,764 520,042 0.0% Bookook Securities Co., Ltd. 5,240 72,927 0.0% #* Boryung Medience Co., Ltd. 18,941 179,967 0.0% Boryung Pharmaceutical Co., Ltd. 20,761 814,204 0.0% #* Bosung Power Technology Co., Ltd. 115,748 319,310 0.0% # BS Financial Group, Inc. 953,492 14,836,958 0.1% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- SOUTH KOREA -- (Continued) Bukwang Pharmaceutical Co., Ltd. 58,230 $ 1,084,245 0.0% BYC Co., Ltd. 190 50,491 0.0% # Byucksan Corp. 159,230 945,334 0.0% # CammSys Corp. 209,735 300,869 0.0% #* Capro Corp. 153,252 403,808 0.0% #* Celltrion Pharm, Inc. 64,970 567,703 0.0% #* Celltrion, Inc. 141,552 5,569,979 0.1% #* Chabiotech Co., Ltd. 78,076 1,074,369 0.0% * Chadiostech Co., Ltd. 29,432 75,786 0.0% #* Charm Engineering Co., Ltd. 77,090 98,173 0.0% #* Cheil Worldwide, Inc. 295,929 4,608,180 0.0% # Chemtronics Co., Ltd. 69,638 534,640 0.0% #* Chin Hung International, Inc. 140,974 181,590 0.0% #* China Great Star International, Ltd. 332,129 723,251 0.0% #* China Ocean Resources Co., Ltd. 489,106 607,311 0.0% #* Choa Pharmaceutical Co. 69,616 245,677 0.0% # Chokwang Paint, Ltd. 24,620 197,947 0.0% Chong Kun Dang Pharmaceutical Corp. 28,395 1,890,297 0.0% Chongkundang Holdings Corp. 14,747 1,086,465 0.0% # Choong Ang Vaccine Laboratory 12,091 198,754 0.0% Chosun Refractories Co., Ltd. 2,127 264,802 0.0% # CJ CGV Co., Ltd. 57,093 2,799,797 0.0% # CJ CheilJedang Corp. 36,256 13,238,034 0.1% # CJ Corp. 68,500 11,128,042 0.1% * CJ E&M Corp. 102,836 3,220,456 0.0% * CJ Freshway Corp. 5,124 222,967 0.0% #* CJ Korea Express Co., Ltd. 34,696 6,266,615 0.1% CJ O Shopping Co., Ltd. 12,289 3,018,283 0.0% #* CJ Seafood Corp. 80,851 193,706 0.0% # CKD Bio Corp. 24,780 553,050 0.0% #* CNK International Co., Ltd. 104,244 168,257 0.0% #* Com2uSCorp 15,298 2,784,991 0.0% # Cosmax BTI, Inc. 63,055 3,010,658 0.0% #* CosmoAM&T Co., Ltd. 40,310 124,302 0.0% #* Cosmochemical Co., Ltd. 56,863 271,689 0.0% Coway Co., Ltd. 149,353 11,417,541 0.1% # Credu Corp. 7,828 529,210 0.0% # Crown Confectionery Co., Ltd. 4,269 744,971 0.0% #* CrucialTec Co., Ltd. 4,475 43,762 0.0% #* CTC BIO, Inc. 46,246 603,960 0.0% #* CUROCOM Co., Ltd. 171,694 188,648 0.0% #* D.I Corp. 76,680 549,816 0.0% #* D.ID Corp. 42,436 64,584 0.0% Dae Dong Industrial Co., Ltd. 66,910 649,219 0.0% Dae Han Flour Mills Co., Ltd. 6,035 1,118,289 0.0% # Dae Hyun Co., Ltd. 132,460 379,822 0.0% Dae Won Kang Up Co., Ltd. 106,380 638,476 0.0% #* Dae Young Packaging Co., Ltd. 350,890 292,745 0.0% # Dae-Il Corp. 79,637 486,533 0.0% #* Daea TI Co., Ltd. 226,336 318,893 0.0% #* Daechang Co., Ltd. 301,520 226,563 0.0% Daeduck Electronics Co. 200,830 1,701,024 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- SOUTH KOREA -- (Continued) # Daeduck GDS Co., Ltd. 114,600 $ 1,137,503 0.0% Daegu Department Store 27,142 387,903 0.0% #* Daehan New Pharm Co., Ltd. 32,312 555,202 0.0% # Daehan Steel Co., Ltd. 75,833 440,499 0.0% Daehwa Pharmaceutical Co., Ltd. 37,069 301,089 0.0% Daekyo Co., Ltd. 76,070 529,886 0.0% #* Daekyung Machinery & Engineering Co., Ltd. 184,410 311,025 0.0% # Daelim Industrial Co., Ltd. 137,711 9,121,983 0.1% # Daesang Corp. 88,309 3,430,276 0.0% Daesang Holdings Co., Ltd. 79,743 1,554,780 0.0% # Daesung Holdings Co., Ltd. 19,560 225,165 0.0% * Daesung Industrial Co., Ltd. 2,450 5,768 0.0% # Daewon Pharmaceutical Co., Ltd. 89,658 1,386,923 0.0% # Daewon San Up Co., Ltd. 31,461 339,055 0.0% #* Daewoo Engineering & Construction Co., Ltd. 450,241 2,760,684 0.0% # Daewoo International Corp. 132,397 4,192,485 0.0% * Daewoo Securities Co., Ltd. 818,317 8,588,655 0.1% # Daewoo Shipbuilding & Marine Engineering Co., Ltd. 429,780 7,348,139 0.1% Daewoong Co., Ltd. 6,323 304,448 0.0% Daewoong Pharmaceutical Co., Ltd. 20,111 1,312,454 0.0% * Dahaam E-Tec Co., Ltd. 1,420 4,484 0.0% # Daishin Securities Co., Ltd. 246,782 2,368,521 0.0% #* Danal Co., Ltd. 53,742 437,414 0.0% Daou Data Corp. 73,862 382,674 0.0% # Daou Technology, Inc. 177,104 1,843,411 0.0% #* Dasan Networks, Inc. 83,278 480,901 0.0% # Daum Communications Corp. 37,671 5,165,922 0.1% # Dawonsys Co., Ltd. 30,006 426,422 0.0% # Dayou Automotive Seat Technology Co., Ltd. 230,815 408,188 0.0% # DCM Corp. 16,370 239,607 0.0% #* Deutsch Motors, Inc. 31,888 125,719 0.0% # DGB Financial Group, Inc. 810,398 11,556,401 0.1% Digital Chosun Co., Ltd. 20,134 107,042 0.0% # Digital Power Communications Co., Ltd. 30,360 106,030 0.0% #* Digitech Systems Co., Ltd. 69,781 51,908 0.0% * DIO Corp. 44,232 314,937 0.0% # Dong Ah Tire & Rubber Co., Ltd. 17,140 309,118 0.0% #* Dong Yang Gang Chul Co., Ltd. 138,330 308,152 0.0% Dong-A Socio Holdings Co., Ltd. 14,564 1,999,689 0.0% # Dong-Ah Geological Engineering Co., Ltd. 30,030 222,743 0.0% Dong-Il Corp. 5,545 477,121 0.0% # Dongaone Co., Ltd. 119,520 349,622 0.0% # Dongbang Transport Logistics Co., Ltd. 78,710 138,738 0.0% * Dongbu CNI Co., Ltd. 14,455 31,413 0.0% #* Dongbu Corp. 35,650 39,667 0.0% #* Dongbu HiTek Co., Ltd. 159,392 789,889 0.0% # Dongbu Insurance Co., Ltd. 227,074 12,694,768 0.1% * Dongbu Securities Co., Ltd. 135,441 507,272 0.0% #* Dongbu Steel Co., Ltd. 225,905 365,848 0.0% Dongil Industries Co., Ltd. 5,678 336,064 0.0% Dongjin Semichem Co., Ltd. 133,076 478,962 0.0% #* Dongkook Industrial Co., Ltd. 137,901 377,645 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- SOUTH KOREA -- (Continued) DongKook Pharmaceutical Co., Ltd. 16,907 $ 698,456 0.0% Dongkuk Industries Co., Ltd. 14,471 58,133 0.0% # Dongkuk Steel Mill Co., Ltd. 352,455 2,091,688 0.0% # Dongkuk Structure & Construction Co., Ltd. 132,251 505,303 0.0% Dongsuh Co., Inc. 10,008 195,460 0.0% # Dongsung Chemical Co., Ltd. 7,530 114,165 0.0% # Dongsung Holdings Co., Ltd. 117,493 776,895 0.0% # Dongsung Pharmaceutical Co., Ltd. 71,092 349,731 0.0% Dongwha Pharm Co., Ltd. 116,059 662,645 0.0% Dongwon F&B Co., Ltd. 7,804 2,559,950 0.0% # Dongwon Industries Co., Ltd. 5,655 1,735,158 0.0% #* Dongwon Systems Corp. 15,467 404,327 0.0% Dongyang E&P, Inc. 32,807 300,133 0.0% # Dongyang Mechatronics Corp. 174,480 1,283,233 0.0% # Doosan Corp. 44,982 4,672,799 0.0% #* Doosan Engine Co., Ltd. 169,159 972,944 0.0% #* Doosan Engineering & Construction Co., Ltd. 14,950 147,986 0.0% # Doosan Heavy Industries & Construction Co., Ltd. 239,421 5,260,740 0.1% #* Doosan Infracore Co., Ltd. 518,615 5,248,617 0.1% #* Dragonfly GF Co., Ltd. 25,290 243,713 0.0% DRB Holding Co., Ltd. 55,899 858,514 0.0% #* Duksan Hi-Metal Co., Ltd. 52,962 533,793 0.0% # DuzonBIzon Co., Ltd. 116,224 765,354 0.0% * e Tec E&C, Ltd. 1,131 92,092 0.0% # e-LITECOM Co., Ltd. 50,299 685,508 0.0% # E-Mart Co., Ltd. 70,199 13,025,348 0.1% * e-Starco Co., Ltd. 273,152 786,841 0.0% # E1 Corp. 12,188 817,827 0.0% # Eagon Industries Co., Ltd. 32,830 502,558 0.0% # Easy Bio, Inc. 172,451 903,896 0.0% * Ecopro Co., Ltd. 57,703 491,147 0.0% # EG Corp. 23,854 421,181 0.0% #* ELK Corp. 93,428 317,660 0.0% #* EMKOREA Co., Ltd. 48,875 220,177 0.0% ENF Technology Co., Ltd. 47,412 278,815 0.0% # Eo Technics Co., Ltd. 34,534 3,571,207 0.0% # Estechpharma Co., Ltd. 43,822 248,381 0.0% * ESTsoft Corp. 4,962 72,390 0.0% # Eugene Corp. 263,713 789,113 0.0% * Eugene Investment & Securities Co., Ltd. 433,877 734,383 0.0% # Eugene Technology Co., Ltd. 84,085 1,359,496 0.0% EVERDIGM Corp. 11,209 73,164 0.0% * Farmsco 2,780 43,682 0.0% # Fila Korea, Ltd. 39,090 4,082,349 0.0% #* Fine Technix Co., Ltd. 22,817 52,132 0.0% #* Finetex EnE, Inc. 100,221 192,712 0.0% # Firstec Co., Ltd. 151,053 283,926 0.0% #* Flexcom, Inc. 59,292 282,867 0.0% #* Foosung Co., Ltd. 170,523 398,392 0.0% Fursys, Inc. 10,916 327,802 0.0% #* Gamevil, Inc. 18,924 2,393,971 0.0% # Gaon Cable Co., Ltd. 15,900 392,061 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- SOUTH KOREA -- (Continued) #* GemVax & Kael Co., Ltd. 37,601 $ 662,744 0.0% #* GeneOneLifeScience, Inc. 105,047 178,460 0.0% #* Genexine Co., Ltd. 2,719 146,698 0.0% #* Genic Co., Ltd. 17,757 359,029 0.0% GIIR, Inc. 16,730 124,747 0.0% Global & Yuasa Battery Co., Ltd. 27,503 954,698 0.0% # Global Display Co., Ltd. 36,493 221,641 0.0% #* GNCO Co., Ltd. 287,549 370,920 0.0% Golfzon Co., Ltd. 78,030 1,958,466 0.0% # Grand Korea Leisure Co., Ltd. 122,320 4,380,197 0.0% # Green Cross Corp. 18,105 2,317,070 0.0% # Green Cross Holdings Corp. 114,530 2,403,516 0.0% * Green Non-Life Insurance Co., Ltd. 14,915 -- 0.0% #* GS Engineering & Construction Corp. 294,338 7,756,053 0.1% # GS Global Corp. 69,008 573,033 0.0% # GS Holdings Corp. 256,119 9,907,364 0.1% GS Home Shopping, Inc. 7,377 1,487,708 0.0% # GS retail Co., Ltd. 105,542 2,460,241 0.0% Gwangju Shinsegae Co., Ltd. 2,914 840,814 0.0% # Haesung Industrial Co., Ltd. 1,700 37,302 0.0% * Halla Corp. 99,423 679,710 0.0% # Halla Holdings Corp. 34,108 2,255,349 0.0% # Halla Visteon Climate Control Corp. 125,612 5,597,865 0.1% # Han Kuk Carbon Co., Ltd. 155,144 891,928 0.0% Hana Financial Group, Inc. 1,140,149 39,483,163 0.3% #* Hana Micron, Inc. 87,151 711,161 0.0% # Hana Tour Service, Inc. 38,973 2,447,189 0.0% #* Hanall Biopharma Co., Ltd. 64,600 239,535 0.0% # Hancom, Inc. 11,223 242,760 0.0% Handok, Inc. 6,692 149,383 0.0% # Handsome Co., Ltd. 81,558 2,450,159 0.0% Hanil Cement Co., Ltd. 19,154 2,464,050 0.0% * Hanil E-Hwa Co., Ltd. 69,483 1,163,760 0.0% #* Hanjin Heavy Industries & Construction Co., Ltd. 409,264 1,658,874 0.0% # Hanjin Heavy Industries & Construction Holdings Co., Ltd. 70,989 598,943 0.0% #* Hanjin Kal Corp. 60,075 1,489,105 0.0% #* Hanjin P&C Co., Ltd. 106,545 167,236 0.0% #* Hanjin Shipping Co., Ltd. 18,453 87,400 0.0% #* Hanjin Shipping Holdings Co., Ltd. 30,480 288,304 0.0% # Hanjin Transportation Co., Ltd. 54,732 2,747,880 0.0% Hankook Shell Oil Co., Ltd. 3,635 1,661,934 0.0% # Hankook Tire Co., Ltd. 292,460 15,068,639 0.1% * Hankuk Glass Industries, Inc. 3,770 88,062 0.0% Hankuk Paper Manufacturing Co., Ltd. 15,900 461,779 0.0% #* Hanmi Pharm Co., Ltd. 25,588 2,033,732 0.0% #* Hanmi Science Co., Ltd. 73,294 1,001,108 0.0% # Hanmi Semiconductor Co., Ltd. 48,770 725,431 0.0% Hansae Co., Ltd. 76,519 2,620,445 0.0% # Hansae Yes24 Holdings Co., Ltd. 78,966 1,065,418 0.0% # Hanshin Construction 1,850 21,033 0.0% # Hansol Chemical Co., Ltd. 47,490 1,524,417 0.0% #* Hansol HomeDeco Co., Ltd. 315,632 593,791 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- SOUTH KOREA -- (Continued) # Hansol Logistics Co., Ltd. 176,540 $ 386,332 0.0% # Hansol Paper Co. 245,415 2,279,618 0.0% #* Hansol Technics Co., Ltd. 85,041 934,585 0.0% # Hanssem Co., Ltd. 31,794 3,789,728 0.0% # Hanwha Chemical Corp. 418,242 4,765,676 0.1% # Hanwha Corp. 266,976 6,840,565 0.1% # Hanwha Galleria Timeworld Co., Ltd. 8,040 485,989 0.0% #* Hanwha General Insurance Co., Ltd. 174,761 882,200 0.0% * Hanwha Investment & Securities Co., Ltd. 343,075 1,204,290 0.0% # Hanwha Life Insurance Co., Ltd. 805,240 6,187,938 0.1% Hanyang Eng Co., Ltd. 55,253 333,945 0.0% Hanyang Securities Co., Ltd. 18,020 115,597 0.0% #* Harim Holdings Co., Ltd. 169,942 751,295 0.0% # Heung-A Shipping Co., Ltd. 573,851 1,175,144 0.0% * Heungkuk Fire & Marine Insurance Co., Ltd. 24,279 87,713 0.0% # High Tech Pharm Co., Ltd. 22,952 312,840 0.0% # Hite Jinro Co., Ltd. 174,665 4,323,713 0.0% Hitejinro Holdings Co., Ltd. 46,471 544,998 0.0% #* HMC Investment Securities Co., Ltd. 102,873 1,060,874 0.0% * HNK Machine Tool Co., Ltd. 18,022 98,844 0.0% # Hotel Shilla Co., Ltd. 94,889 8,933,261 0.1% * HS Industries Co., Ltd. 13,443 15,494 0.0% HS R&A Co., Ltd. 16,340 475,887 0.0% Huchems Fine Chemical Corp. 88,801 1,931,764 0.0% Humax Co., Ltd. 98,552 958,572 0.0% # Huons Co., Ltd. 28,769 1,735,588 0.0% Husteel Co., Ltd. 21,660 338,143 0.0% # Huvis Corp. 71,070 819,186 0.0% # Huvitz Co., Ltd. 27,945 438,656 0.0% # Hwa Shin Co., Ltd. 110,643 898,138 0.0% Hwacheon Machine Tool Co., Ltd. 4,514 290,722 0.0% HwaSung Industrial Co., Ltd. 12,196 136,084 0.0% # Hy-Lok Corp. 40,072 1,094,441 0.0% Hyosung Corp. 140,088 8,317,728 0.1% #* Hyundai BNG Steel Co., Ltd. 51,350 832,459 0.0% # Hyundai Corp. 53,610 1,837,897 0.0% Hyundai Department Store Co., Ltd. 62,015 7,861,719 0.1% Hyundai Development Co. 338,019 12,747,773 0.1% #* Hyundai Elevator Co., Ltd. 54,813 2,320,207 0.0% Hyundai Engineering & Construction Co., Ltd. 239,490 10,868,493 0.1% # Hyundai Engineering Plastics Co., Ltd. 88,540 633,094 0.0% # Hyundai Glovis Co., Ltd. 25,421 6,323,017 0.1% # Hyundai Greenfood Co., Ltd. 215,940 3,674,353 0.0% # Hyundai Heavy Industries Co., Ltd. 101,252 9,407,636 0.1% Hyundai Home Shopping Network Corp. 17,726 2,254,353 0.0% Hyundai Hy Communications & Networks Co., Ltd. 171,293 729,018 0.0% # Hyundai Hysco Co., Ltd. 30,308 1,967,704 0.0% Hyundai Livart Co., Ltd. 54,210 2,292,087 0.0% # Hyundai Marine & Fire Insurance Co., Ltd. 287,655 7,597,024 0.1% #* Hyundai Merchant Marine Co., Ltd. 87,156 943,158 0.0% # Hyundai Mipo Dockyard Co., Ltd. 25,099 1,783,684 0.0% Hyundai Mobis Co., Ltd. 153,167 35,835,653 0.2% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- SOUTH KOREA -- (Continued) Hyundai Motor Co. 364,834 $ 57,892,430 0.4% #* Hyundai Securities Co., Ltd. 710,011 4,612,900 0.0% # Hyundai Steel Co. 288,254 18,371,562 0.1% # Hyundai Wia Corp. 53,386 9,201,757 0.1% #* Hyunjin Materials Co., Ltd. 70,175 251,772 0.0% # HyVision System, Inc. 53,429 350,997 0.0% #* ICD Co., Ltd. 57,475 329,998 0.0% * IHQ, Inc. 86,642 194,607 0.0% # Il Dong Pharmaceutical Co., Ltd. 47,700 725,633 0.0% # Iljin Electric Co., Ltd. 97,637 728,432 0.0% Iljin Holdings Co., Ltd. 79,100 555,087 0.0% #* Iljin Materials Co., Ltd. 60,430 446,211 0.0% Ilshin Spinning Co., Ltd. 6,840 1,247,578 0.0% # Ilsung Pharmaceuticals Co., Ltd. 3,008 253,758 0.0% #* IM Co., Ltd. 67,915 201,531 0.0% # iMarketKorea, Inc. 56,730 1,402,174 0.0% # iMBC Co., Ltd. 28,170 106,229 0.0% # InBody Co., Ltd. 33,151 924,987 0.0% Industrial Bank of Korea 742,530 10,858,247 0.1% #* Infinitt Healthcare Co., Ltd. 35,247 271,620 0.0% #* Infopia Co., Ltd. 36,965 512,026 0.0% #* Infraware, Inc. 72,723 445,840 0.0% #* InkTec Co., Ltd. 37,888 392,293 0.0% # Innochips Technology, Inc. 34,587 448,401 0.0% * InnoWireless, Inc. 22,924 225,307 0.0% #* Innox Corp. 73,906 982,757 0.0% #* Insun ENT Co., Ltd. 100,647 309,856 0.0% # Intelligent Digital Integrated Securities Co., Ltd. 18,225 223,583 0.0% #* Interflex Co., Ltd. 50,985 535,269 0.0% Intergis Co., Ltd. 6,800 51,961 0.0% # Interojo Co., Ltd. 13,883 261,730 0.0% # Interpark Corp. 141,004 1,197,800 0.0% INTOPS Co., Ltd. 34,688 506,062 0.0% Inzi Controls Co., Ltd. 44,490 210,925 0.0% INZI Display Co., Ltd. 124,958 209,571 0.0% #* IS Dongseo Co., Ltd. 49,570 2,123,471 0.0% # ISU Chemical Co., Ltd. 65,123 628,502 0.0% # IsuPetasys Co., Ltd. 190,048 768,130 0.0% # Jahwa Electronics Co., Ltd. 84,724 890,262 0.0% # JB Financial Group Co., Ltd. 480,453 2,950,528 0.0% * Jcontentree Corp. 133,592 487,591 0.0% # Jeil Pharmaceutical Co. 32,320 722,767 0.0% * Jeil Savings Bank 3,200 -- 0.0% #* Jeju Semiconductor Corp. 13,133 34,764 0.0% #* Jenax, Inc. 34,294 286,313 0.0% Jinro Distillers Co., Ltd. 8,652 259,486 0.0% # Jinsung T.E.C. 44,792 206,671 0.0% JLS Co., Ltd. 2,012 12,472 0.0% #* Joymax Co., Ltd. 17,153 401,740 0.0% #* Jusung Engineering Co., Ltd. 133,818 391,645 0.0% #* JVM Co., Ltd. 17,083 930,027 0.0% JW Holdings Co., Ltd. 173,453 388,613 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- SOUTH KOREA -- (Continued) # JW Pharmaceutical Corp. 52,900 $ 732,764 0.0% Kangwon Land, Inc. 166,590 5,447,552 0.1% # KB Capital Co., Ltd. 56,966 1,136,138 0.0% KB Financial Group, Inc. 527,260 20,668,461 0.2% KB Financial Group, Inc. ADR 464,299 17,968,371 0.1% KC Cottrell Co., Ltd. 23,085 125,791 0.0% # KC Green Holdings Co., Ltd. 68,630 664,405 0.0% # KC Tech Co., Ltd. 107,916 775,533 0.0% # KCC Corp. 19,339 10,706,724 0.1% * KCO Energy, Inc. 70 -- 0.0% # KCP Co., Ltd. 67,590 1,555,539 0.0% #* Keangnam Enterprises, Ltd. 40,855 169,876 0.0% #* KEC Corp. 359,677 609,524 0.0% # KEPCO Engineering & Construction Co., Inc. 29,007 1,761,668 0.0% # KEPCO Plant Service & Engineering Co., Ltd. 58,546 4,797,526 0.1% Keyang Electric Machinery Co., Ltd. 105,070 390,639 0.0% # KG Chemical Corp. 42,420 657,840 0.0% # Kginicis Co., Ltd. 88,225 1,262,513 0.0% # KGMobilians Co., Ltd. 43,631 528,829 0.0% # KH Vatec Co., Ltd. 82,272 2,503,977 0.0% Kia Motors Corp. 661,264 32,119,207 0.2% KISCO Corp. 19,816 616,150 0.0% KISCO Holdings Co., Ltd. 2,565 123,645 0.0% Kishin Corp. 42,990 299,031 0.0% # KISWIRE, Ltd. 31,046 1,512,600 0.0% # KIWOOM Securities Co., Ltd. 55,729 2,369,263 0.0% * KMH Co., Ltd. 40,995 339,815 0.0% #* KMW Co., Ltd. 57,687 599,042 0.0% # Koentec Co., Ltd. 192,793 521,700 0.0% # Koh Young Technology, Inc. 57,905 1,787,375 0.0% # Kolao Holdings 70,184 1,078,738 0.0% Kolon Corp. 38,189 919,293 0.0% #* Kolon Global Corp. 37,038 257,459 0.0% # Kolon Industries, Inc. 101,473 5,160,996 0.1% # Kolon Life Science, Inc. 21,152 1,018,835 0.0% #* Komipharm International Co., Ltd. 27,643 256,773 0.0% # KONA I Co., Ltd. 53,766 2,195,033 0.0% # Kook Je Electric Korea Co., Ltd. 28,483 660,173 0.0% Kook Soon Dang Brewery Co., Ltd. 61,040 371,437 0.0% # Korea Aerospace Industries, Ltd. 115,164 4,447,082 0.0% Korea Airport Service Co., Ltd. 1,131 35,146 0.0% * Korea Alcohol Industrial Co., Ltd. 6,066 28,890 0.0% # Korea Cast Iron Pipe Industries Co., Ltd. 3,750 21,418 0.0% # Korea Circuit Co., Ltd. 60,735 450,159 0.0% # Korea District Heating Corp. 15,254 856,993 0.0% Korea Electric Power Corp. 220,808 9,692,539 0.1% Korea Electric Power Corp. Sponsored ADR 480,952 10,513,611 0.1% Korea Electric Terminal Co., Ltd. 31,550 1,624,882 0.0% Korea Electronic Power Industrial Development Co., Ltd. 30,807 188,757 0.0% # Korea Export Packaging Industrial Co., Ltd. 11,810 276,891 0.0% # Korea Flange Co., Ltd. 25,354 541,406 0.0% * Korea Gas Corp. 104,650 4,906,133 0.1% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- SOUTH KOREA -- (Continued) #* Korea Info & Comm 77,904 $ 671,126 0.0% # Korea Investment Holdings Co., Ltd. 217,740 11,010,441 0.1% # Korea Kolmar Co., Ltd. 37,476 1,827,206 0.0% # Korea Kolmar Holdings Co., Ltd. 33,914 1,594,284 0.0% * Korea Line Corp. 5,009 139,841 0.0% Korea Petrochemical Ind Co., Ltd. 17,894 1,310,750 0.0% # Korea United Pharm, Inc. 50,469 694,001 0.0% # Korea Zinc Co., Ltd. 23,914 9,005,836 0.1% * Korean Air Lines Co., Ltd. 187,460 6,654,422 0.1% # Korean Reinsurance Co. 572,496 6,115,069 0.1% # Kortek Corp. 46,568 508,348 0.0% KPF 40,895 159,616 0.0% KPX Chemical Co., Ltd. 6,559 365,048 0.0% #* KR Motors Co., Ltd. 360,460 308,082 0.0% #* KSCB Co., Ltd. 16,107 40,619 0.0% KT Corp. 118,155 3,640,303 0.0% KT Corp. Sponsored ADR 241,957 3,709,201 0.0% * KT Hitel Co., Ltd. 39,808 300,888 0.0% KT Skylife Co., Ltd. 114,869 2,088,700 0.0% KT&G Corp. 218,578 19,353,491 0.1% * KTB Investment & Securities Co., Ltd. 293,805 592,369 0.0% Kukdo Chemical Co., Ltd. 22,202 859,771 0.0% # Kumho Electric Co., Ltd. 19,644 313,290 0.0% #* Kumho Industrial Co., Ltd. 11,534 129,633 0.0% # Kumho Petrochemical Co., Ltd. 38,059 2,752,345 0.0% #* Kumho Tire Co., Inc. 467,022 4,673,460 0.0% # Kumkang Kind Co., Ltd. 8,965 506,587 0.0% Kunsul Chemical Industrial Co., Ltd. 20,095 838,271 0.0% # Kwang Dong Pharmaceutical Co., Ltd. 204,270 1,979,570 0.0% #* Kwang Myung Electric Engineering Co., Ltd. 213,320 482,289 0.0% * Kwangju Bank 95,372 963,272 0.0% #* Kyeryong Construction Industrial Co., Ltd. 21,112 236,859 0.0% * Kyobo Securities Co., Ltd. 115,315 1,453,899 0.0% #* Kyongnam Bank 145,748 1,700,476 0.0% # Kyung Dong Navien Co., Ltd. 28,390 773,850 0.0% # Kyung-In Synthetic Corp. 102,540 490,774 0.0% # Kyungbang, Ltd. 3,971 708,878 0.0% # Kyungchang Industrial Co., Ltd. 85,496 784,909 0.0% KyungDong City Gas Co., Ltd. 9,747 1,067,718 0.0% # Kyungdong Pharm Co., Ltd. 32,976 737,406 0.0% Kyungnam Energy Co., Ltd. 3,460 23,003 0.0% # L&F Co., Ltd. 43,180 277,176 0.0% #* LB Semicon, Inc. 171,662 233,727 0.0% # LEENO Industrial, Inc. 49,318 1,963,928 0.0% LF Corp. 113,664 3,585,077 0.0% LG Chem, Ltd. 109,847 20,586,970 0.2% LG Corp. 373,912 22,247,789 0.2% #* LG Display Co., Ltd. 863,120 25,409,403 0.2% * LG Display Co., Ltd. ADR 846,745 12,718,110 0.1% # LG Electronics, Inc. 486,284 29,698,170 0.2% # LG Hausys, Ltd. 33,104 4,939,393 0.1% # LG Household & Health Care, Ltd. 23,769 13,841,743 0.1% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- SOUTH KOREA -- (Continued) #* LG Innotek Co., Ltd. 71,587 $ 5,644,502 0.1% # LG International Corp. 204,424 4,143,862 0.0% #* LG Life Sciences, Ltd. 35,554 1,252,606 0.0% LG Uplus Corp. 1,176,557 12,099,671 0.1% * LIG ADP Co., Ltd. 14,255 62,286 0.0% LIG Insurance Co., Ltd. 263,903 6,890,223 0.1% # LMS Co., Ltd. 32,221 536,912 0.0% # Lock&Lock Co., Ltd. 106,330 1,133,430 0.0% #* Logistics Energy Korea Co., Ltd. 139,240 220,446 0.0% # Lotte Chemical Corp. 66,281 8,989,450 0.1% # Lotte Chilsung Beverage Co., Ltd. 3,758 5,948,481 0.1% Lotte Confectionery Co., Ltd. 3,283 5,903,893 0.1% Lotte Food Co., Ltd. 3,536 2,195,221 0.0% # LOTTE Himart Co., Ltd. 37,300 2,308,455 0.0% #* Lotte Non-Life Insurance Co., Ltd. 134,230 365,407 0.0% Lotte Shopping Co., Ltd. 45,229 12,538,216 0.1% LS Corp. 79,633 4,458,928 0.0% # LS Industrial Systems Co., Ltd. 63,398 3,736,926 0.0% #* Lumens Co., Ltd. 328,883 1,679,621 0.0% # Macquarie Korea Infrastructure Fund 1,417,579 9,467,587 0.1% #* Macrogen, Inc. 12,304 508,889 0.0% # Maeil Dairy Industry Co., Ltd. 31,906 1,010,229 0.0% #* Mando Corp. 37,212 7,016,008 0.1% #* Medifron DBT Co., Ltd. 81,261 223,235 0.0% #* Medipost Co., Ltd. 11,985 560,218 0.0% # Medy-Tox, Inc. 25,265 5,886,287 0.1% # MegaStudy Co., Ltd. 24,221 1,214,719 0.0% #* Melfas, Inc. 93,515 463,164 0.0% # Meritz Financial Group, Inc. 193,269 1,706,778 0.0% # Meritz Fire & Marine Insurance Co., Ltd. 348,131 4,170,603 0.0% # Meritz Securities Co., Ltd. 1,025,050 4,167,024 0.0% #* Mgame Corp. 3,948 18,424 0.0% Mi Chang Oil Industrial Co., Ltd. 2,155 145,176 0.0% # Mirae Asset Securities Co., Ltd. 151,774 6,519,774 0.1% #* Mirae Corp. 1,324,718 195,210 0.0% Miwon Chemicals Co., Ltd. 1,200 40,687 0.0% * Miwon Commercial Co., Ltd. 456 71,065 0.0% Miwon Specialty Chemical Co., Ltd. 988 275,134 0.0% MK Electron Co., Ltd. 82,406 432,357 0.0% #* MNTech Co., Ltd. 105,014 403,765 0.0% # Modetour Network, Inc. 35,269 691,118 0.0% * Monalisa Co., Ltd. 28,400 84,145 0.0% Moorim P&P Co., Ltd. 148,201 682,535 0.0% # Moorim Paper Co., Ltd. 110,200 241,679 0.0% Motonic Corp. 49,880 606,222 0.0% #* Muhak Co., Ltd. 16,314 514,801 0.0% # Namhae Chemical Corp. 119,110 943,869 0.0% #* Namsun Aluminum Co., Ltd. 177,360 190,033 0.0% # Namyang Dairy Products Co., Ltd. 1,115 713,899 0.0% National Plastic Co. 83,760 460,445 0.0% # Naver Corp. 60,144 42,559,210 0.3% # NCSoft Corp. 56,933 7,843,320 0.1% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- SOUTH KOREA -- (Continued) #* Neowiz Games Corp. 96,874 $ 2,085,784 0.0% * NEOWIZ HOLDINGS Corp. 29,940 535,617 0.0% #* NEPES Corp. 125,213 730,290 0.0% Nexen Corp. 20,820 1,695,587 0.0% # Nexen Tire Corp. 151,743 1,858,443 0.0% #* Nexolon Co., Ltd. 319,720 51,168 0.0% #* Nexon GT Co., Ltd. 83,827 1,491,603 0.0% NH Investment & Securities Co., Ltd. 131,668 986,590 0.0% #* NHN Entertainment Corp. 17,676 1,376,100 0.0% # NICE Holdings Co., Ltd. 60,740 1,007,107 0.0% # NICE Information Service Co., Ltd. 98,257 427,283 0.0% #* NK Co., Ltd. 107,504 471,281 0.0% Nong Shim Holdings Co., Ltd. 10,545 1,238,378 0.0% # Nong Woo Bio Co., Ltd. 14,772 352,311 0.0% # NongShim Co., Ltd. 14,384 3,591,197 0.0% Noroo Holdings Co., Ltd. 7,860 186,349 0.0% NOROO Paint & Coatings Co., Ltd. 29,583 195,402 0.0% #* OCI Co., Ltd. 58,108 5,015,725 0.1% # OCI Materials Co., Ltd. 32,495 1,547,068 0.0% #* OPTRON-TEC, Inc. 110,759 437,335 0.0% #* Orientbio, Inc. 265,298 201,479 0.0% # Orion Corp. 10,102 7,786,289 0.1% #* OSANGJAIEL Co., Ltd. 35,202 488,332 0.0% * Osstem Implant Co., Ltd. 45,559 1,857,255 0.0% #* Osung LST Co., Ltd. 19,853 17,152 0.0% Ottogi Corp. 5,413 2,864,533 0.0% #* Paik Kwang Industrial Co., Ltd. 99,357 272,647 0.0% #* Pan Ocean Co., Ltd. 28,865 96,566 0.0% # Pan-Pacific Co., Ltd. 109,600 664,485 0.0% #* PaperCorea, Inc. 578,668 411,138 0.0% # Paradise Co., Ltd. 88,480 2,723,375 0.0% # Partron Co., Ltd. 278,489 2,293,137 0.0% #* Pharmicell Co., Ltd. 154,381 694,485 0.0% POSCO 31,634 9,137,071 0.1% POSCO ADR 511,345 36,591,848 0.3% POSCO Chemtech Co., Ltd. 9,341 1,294,421 0.0% * POSCO Coated & Color Steel Co., Ltd. 6,940 89,668 0.0% # Posco ICT Co., Ltd. 258,264 1,475,413 0.0% # Posco M-Tech Co., Ltd. 89,647 263,845 0.0% #* Posco Plantec Co., Ltd. 52,228 137,200 0.0% #* Power Logics Co., Ltd. 132,115 430,263 0.0% # PSK, Inc. 60,231 835,061 0.0% Pulmuone Co., Ltd. 6,402 863,095 0.0% # Pyeong Hwa Automotive Co., Ltd. 68,982 1,119,653 0.0% #* Redrover Co., Ltd. 47,969 306,259 0.0% # Reyon Pharmaceutical Co., Ltd. 9,328 208,767 0.0% # RFsemi Technologies, Inc. 20,093 127,525 0.0% # RFTech Co., Ltd. 38,610 245,863 0.0% #* Rocket Electric Co., Ltd. 114,930 20,889 0.0% # Romanson Co., Ltd. 27,489 501,686 0.0% * S&C Engine Group, Ltd. 71,648 138,916 0.0% # S&T Corp. 8,318 120,980 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- SOUTH KOREA -- (Continued) # S&T Dynamics Co., Ltd. 146,815 $ 1,147,158 0.0% S&T Holdings Co., Ltd. 28,657 462,014 0.0% # S&T Motiv Co., Ltd. 49,646 1,797,162 0.0% # S-1 Corp. 45,985 3,202,170 0.0% # S-Energy Co., Ltd. 42,490 316,895 0.0% # S-MAC Co., Ltd. 93,218 353,884 0.0% # S-Oil Corp. 151,007 5,736,659 0.1% # Saeron Automotive Corp. 3,180 32,308 0.0% * Sajo Industries Co., Ltd. 14,007 492,217 0.0% Sam Young Electronics Co., Ltd. 52,430 578,216 0.0% # Sam Yung Trading Co., Ltd. 53,574 1,197,480 0.0% * Sambu Construction Co., Ltd. 1,421 6,696 0.0% # Samchully Co., Ltd. 13,664 1,932,605 0.0% # Samho Development Co., Ltd. 53,704 167,489 0.0% #* Samho International Co., Ltd. 8,931 137,049 0.0% # SAMHWA Paints Industrial Co., Ltd. 42,710 503,021 0.0% # Samick Musical Instruments Co., Ltd. 283,360 1,084,021 0.0% Samick THK Co., Ltd. 49,651 419,235 0.0% Samjin Pharmaceutical Co., Ltd. 51,035 1,212,423 0.0% # Samkwang Glass 15,805 1,014,666 0.0% # Samlip General Foods Co., Ltd. 12,050 1,900,660 0.0% Samsung C&T Corp. 478,605 32,376,163 0.2% # Samsung Card Co., Ltd. 43,208 1,857,981 0.0% Samsung Climate Control Co., Ltd. 4,190 45,462 0.0% # Samsung Electro-Mechanics Co., Ltd. 313,142 14,281,188 0.1% Samsung Electronics Co., Ltd. 348,260 406,120,741 2.6% * Samsung Engineering Co., Ltd. 67,263 3,879,525 0.0% # Samsung Fine Chemicals Co., Ltd. 108,130 3,014,688 0.0% Samsung Fire & Marine Insurance Co., Ltd. 114,873 30,930,733 0.2% Samsung Heavy Industries Co., Ltd. 537,522 13,100,549 0.1% Samsung Life Insurance Co., Ltd. 142,020 15,491,038 0.1% # Samsung SDI Co., Ltd. 242,672 28,616,095 0.2% # Samsung Securities Co., Ltd. 306,341 13,724,544 0.1% # Samsung Techwin Co., Ltd. 102,698 3,154,158 0.0% * SAMT Co., Ltd. 98,047 154,475 0.0% # Samwha Capacitor Co., Ltd. 11,760 44,883 0.0% # Samyang Foods Co., Ltd. 20,187 415,261 0.0% Samyang Genex Co., Ltd. 1,871 221,641 0.0% Samyang Holdings Corp. 21,569 1,794,721 0.0% # Samyang Tongsang Co., Ltd. 5,278 406,473 0.0% #* Samyoung Chemical Co., Ltd. 158,910 230,306 0.0% #* Sangbo Corp. 55,788 398,563 0.0% #* Sapphire Technology Co., Ltd. 17,075 266,202 0.0% # Satrec Initiative Co., Ltd. 9,732 191,734 0.0% Savezone I&C Corp. 62,600 413,819 0.0% SBS Contents Hub Co., Ltd. 35,226 498,318 0.0% SBS Media Holdings Co., Ltd. 258,120 795,139 0.0% #* SBW 311,730 314,764 0.0% Seah Besteel Corp. 88,265 2,639,373 0.0% SeAH Holdings Corp. 3,656 615,799 0.0% # SeAH Steel Corp. 18,987 1,470,853 0.0% Sebang Co., Ltd. 57,215 1,036,887 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- SOUTH KOREA -- (Continued) #* Seegene, Inc. 21,822 $ 1,200,304 0.0% # Sejong Industrial Co., Ltd. 59,696 836,131 0.0% Sempio Foods Co. 11,951 446,290 0.0% #* Seobu T&D 55,046 1,100,315 0.0% # Seohan Co., Ltd. 228,446 486,556 0.0% #* Seohee Construction Co., Ltd. 823,542 536,775 0.0% # Seoul Semiconductor Co., Ltd. 152,327 2,612,462 0.0% #* Seowon Co., Ltd. 55,740 78,157 0.0% SEOWONINTECH Co., Ltd. 60,100 550,407 0.0% Seoyeon Co., Ltd. 31,845 455,304 0.0% * Seshin Co., Ltd. 2,000 -- 0.0% #* Sewon Cellontech Co., Ltd. 136,564 382,719 0.0% Sewon Precision Industry Co., Ltd. 2,555 75,041 0.0% # SEWOONMEDICAL Co., Ltd. 98,123 771,430 0.0% # SFA Engineering Corp. 36,376 1,549,180 0.0% #* SG Corp. 760,392 438,216 0.0% # SH Energy & Chemical Co., Ltd. 428,820 437,586 0.0% Shin Poong Pharmaceutical Co., Ltd. 160,213 632,960 0.0% Shinhan Financial Group Co., Ltd. 587,965 27,673,027 0.2% Shinhan Financial Group Co., Ltd. ADR 387,122 18,221,833 0.1% #* Shinil Industrial Co., Ltd. 186,283 295,877 0.0% Shinsegae Co., Ltd. 42,092 7,808,339 0.1% Shinsegae Information & Communication Co., Ltd. 3,395 296,070 0.0% # Shinsegae International Co., Ltd. 11,730 1,374,989 0.0% #* Shinsung Solar Energy Co., Ltd. 294,793 297,126 0.0% #* Shinsung Tongsang Co., Ltd. 335,110 391,857 0.0% * Shinwha Intertek Corp. 11,754 33,444 0.0% #* Shinwon Corp. 142,793 382,289 0.0% Shinyoung Securities Co., Ltd. 11,600 656,711 0.0% #* Signetics Corp. 278,865 369,715 0.0% #* SIGONG TECH Co., Ltd. 58,961 219,354 0.0% # Silicon Works Co., Ltd. 59,105 1,294,449 0.0% # Silla Co., Ltd. 37,814 703,471 0.0% #* Simm Tech Co., Ltd. 129,173 1,085,974 0.0% SIMPAC, Inc. 78,380 432,958 0.0% Sindoh Co., Ltd. 8,629 569,621 0.0% SJM Co., Ltd. 42,434 307,593 0.0% * SK Broadband Co., Ltd. 814,200 3,451,151 0.0% # SK C&C Co., Ltd. 50,242 11,401,452 0.1% # SK Chemicals Co., Ltd. 82,415 4,701,369 0.0% #* SK Communications Co., Ltd. 88,183 534,087 0.0% SK Gas, Ltd. 22,360 2,921,547 0.0% SK Holdings Co., Ltd. 115,497 18,104,021 0.1% #* SK Hynix, Inc. 1,223,154 54,545,683 0.4% # SK Innovation Co., Ltd. 246,820 20,189,897 0.1% * SK Networks Co., Ltd. 773,442 7,934,838 0.1% #* SK Securities Co., Ltd. 1,761,093 1,536,597 0.0% SK Telecom Co., Ltd. 9,434 2,364,151 0.0% # SK Telecom Co., Ltd. ADR 170,500 4,738,195 0.1% # SKC Co., Ltd. 118,030 3,032,518 0.0% SL Corp. 79,470 1,463,450 0.0% #* SM Culture & Contents Co., Ltd. 37,934 97,646 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- SOUTH KOREA -- (Continued) #* SM Entertainment Co. 81,560 $ 2,158,646 0.0% #* Softmax Co., Ltd. 7,408 144,926 0.0% #* Solborn, Inc. 61,773 236,406 0.0% * Solco Biomedical Co., Ltd. 276,795 192,354 0.0% # Solid, Inc. 63,648 450,974 0.0% Songwon Industrial Co., Ltd. 98,921 575,196 0.0% #* Sonokong Co., Ltd. 37,918 110,237 0.0% #* Soosan Heavy Industries Co., Ltd. 11,350 14,855 0.0% # Soulbrain Co., Ltd. 52,218 1,320,128 0.0% * Ssangyong Cement Industrial Co., Ltd. 131,252 1,269,040 0.0% * Steel Flower Co., Ltd. 14,291 51,648 0.0% #* STS Semiconductor & Telecommunications 196,272 589,372 0.0% #* STX Corp. 39,251 18,428 0.0% #* STX Engine Co., Ltd. 113,410 279,352 0.0% # Suheung Co., Ltd. 31,130 1,731,824 0.0% Sun Kwang Co., Ltd. 8,392 149,349 0.0% Sunchang Corp. 33,543 261,853 0.0% # Sung Kwang Bend Co., Ltd. 125,377 1,813,864 0.0% #* Sungchang Enterprise Holdings, Ltd. 29,963 587,130 0.0% * Sungshin Cement Co., Ltd. 117,805 905,413 0.0% # Sungwoo Hitech Co., Ltd. 224,400 3,234,733 0.0% # Sunjin Co., Ltd. 25,747 916,788 0.0% #* Sunny Electronics Corp. 59,310 122,228 0.0% #* Suprema, Inc. 41,274 1,161,631 0.0% #* Synopex, Inc. 294,929 394,014 0.0% Tae Kyung Industrial Co., Ltd. 73,750 399,592 0.0% Taekwang Industrial Co., Ltd. 2,206 2,575,242 0.0% #* Taewoong Co., Ltd. 58,348 906,421 0.0% * Taeyoung Engineering & Construction Co., Ltd. 241,765 959,179 0.0% #* Taihan Electric Wire Co., Ltd. 426,755 784,838 0.0% Tailim Packaging Industrial Co., Ltd. 170,084 389,469 0.0% TCC Steel 43,300 121,573 0.0% TechWing, Inc. 27,316 186,941 0.0% * Tera Semicon Co., Ltd. 3,894 73,414 0.0% # TES Co., Ltd. 20,552 300,691 0.0% #* Theall Medi Bio 49,170 78,313 0.0% #* Theragen Etex Co., Ltd. 30,238 145,687 0.0% #* TK Chemical Corp. 221,149 450,794 0.0% #* TK Corp. 20,088 259,593 0.0% Tong Yang Moolsan Co., Ltd. 20,210 146,613 0.0% Tongyang Life Insurance 237,413 2,578,508 0.0% #* TONGYANG Securities, Inc. 193,093 553,652 0.0% * Top Engineering Co., Ltd. 31,343 122,352 0.0% # Toptec Co., Ltd. 34,472 407,521 0.0% #* Toray Chemical Korea, Inc. 119,546 1,446,396 0.0% # Tovis Co., Ltd. 75,091 1,256,051 0.0% #* Trais Co., Ltd. 52,841 90,350 0.0% TS Corp. 21,505 647,006 0.0% * TSM Tech Co., Ltd. 13,064 55,838 0.0% #* UBCare Co., Ltd. 49,822 124,965 0.0% # Ubiquoss, Inc. 67,761 458,622 0.0% #* Ubivelox, Inc. 14,683 196,764 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- SOUTH KOREA -- (Continued) # UI Display Co., Ltd. 30,462 $ 147,866 0.0% # Uju Electronics Co., Ltd. 38,295 376,054 0.0% # Unid Co., Ltd. 20,693 1,151,900 0.0% Union Steel 9,090 94,846 0.0% #* Uniquest Corp. 21,430 165,295 0.0% #* Unison Co., Ltd. 106,124 269,542 0.0% # Value Added Technologies Co., Ltd. 35,739 954,562 0.0% # Vieworks Co., Ltd. 31,931 1,082,620 0.0% # Visang Education, Inc. 29,286 221,968 0.0% #* Webzen, Inc. 55,893 784,087 0.0% #* WeMade Entertainment Co., Ltd. 14,969 521,184 0.0% # Whanin Pharmaceutical Co., Ltd. 42,680 983,611 0.0% #* WillBes & Co. (The) 312,727 361,948 0.0% #* WiSoL Co., Ltd. 91,349 547,346 0.0% #* Wonik Cube Corp. 46,904 134,726 0.0% #* Wonik IPS Co., Ltd. 253,415 3,202,657 0.0% * Wonik Materials Co., Ltd. 1,948 88,855 0.0% # Woojeon & Handan Co., Ltd. 90,395 213,403 0.0% #* Woongjin Energy Co., Ltd. 261,630 346,102 0.0% * Woongjin Holdings Co., Ltd. 21,357 38,894 0.0% #* Woongjin Thinkbig Co., Ltd. 113,582 769,002 0.0% # Wooree ETI Co., Ltd. 151,114 222,327 0.0% * Woori Finance Holdings Co., Ltd. 1,256,888 14,278,248 0.1% * Woori Finance Holdings Co., Ltd. ADR 1,525 51,972 0.0% Woori Investment & Securities Co., Ltd. 770,086 8,440,706 0.1% #* Woori Investment Bank Co., Ltd. 2,206,024 971,533 0.0% # WooSung Feed Co., Ltd. 85,910 247,011 0.0% # Y G-1 Co., Ltd. 60,534 541,259 0.0% YESCO Co., Ltd. 12,670 445,836 0.0% # YG Entertainment, Inc. 44,488 1,891,717 0.0% Yoosung Enterprise Co., Ltd. 133,479 828,147 0.0% # Youlchon Chemical Co., Ltd. 56,010 711,698 0.0% # Young Heung Iron & Steel Co., Ltd. 189,290 358,322 0.0% Young Poong Corp. 2,442 2,709,296 0.0% # Young Poong Precision Corp. 79,254 686,030 0.0% # Youngone Corp. 81,769 4,892,498 0.1% # Youngone Holdings Co., Ltd. 25,042 2,472,965 0.0% # Yuhan Corp. 30,599 5,058,636 0.1% YuHwa Securities Co., Ltd. 4,830 65,864 0.0% #* Yungjin Pharmaceutical Co., Ltd. 327,963 437,781 0.0% ----------------- -------------- TOTAL SOUTH KOREA 2,304,345,708 14.7% ----------------- -------------- SPAIN -- (0.0%) * Banco Santander SA 231,600 710,343 0.0% ----------------- -------------- TAIWAN -- (13.3%) # A-DATA Technology Co., Ltd. 1,166,465 2,099,462 0.0% Ability Enterprise Co., Ltd. 2,498,893 1,241,626 0.0% # AcBel Polytech, Inc. 1,805,468 2,042,580 0.0% Accton Technology Corp. 3,188,369 1,627,740 0.0% # Ace Pillar Co., Ltd. 259,617 174,764 0.0% #* Acer, Inc. 14,203,127 9,760,238 0.1% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- TAIWAN -- (Continued) ACES Electronic Co., Ltd. 478,000 $ 587,964 0.0% # ACHEM Technology Corp. 1,431,264 822,317 0.0% #* Acme Electronics Corp. 156,481 152,770 0.0% # Acter Co., Ltd. 260,000 665,088 0.0% * Action Electronics Co., Ltd. 920,977 166,734 0.0% # Actron Technology Corp. 375,200 1,353,361 0.0% # Adlink Technology, Inc. 501,094 1,275,128 0.0% # Advanced Ceramic X Corp. 235,000 884,200 0.0% #* Advanced Connectek, Inc. 1,185,000 443,413 0.0% Advanced International Multitech Co., Ltd. 610,000 403,288 0.0% # Advanced Semiconductor Engineering, Inc. 15,890,750 19,169,872 0.1% # Advanced Semiconductor Engineering, Inc. ADR 823,972 5,083,907 0.1% #* Advanced Wireless Semiconductor Co. 262,000 234,003 0.0% # Advancetek Enterprise Co., Ltd. 836,896 656,447 0.0% # Advantech Co., Ltd. 770,087 5,357,861 0.1% #* AGV Products Corp. 3,449,407 910,354 0.0% # AimCore Technology Co., Ltd. 310,402 255,678 0.0% # Airtac International Group 416,490 3,045,204 0.0% # Alcor Micro Corp. 463,000 385,576 0.0% # ALI Corp. 1,942,000 1,605,734 0.0% Allis Electric Co., Ltd. 329,000 88,875 0.0% Alltek Technology Corp. 125,950 117,906 0.0% # Alltop Technology Co., Ltd. 85,000 78,160 0.0% # Alpha Networks, Inc. 2,047,000 1,031,835 0.0% Altek Corp. 1,920,159 2,074,213 0.0% # Ambassador Hotel (The) 1,544,000 1,402,465 0.0% # AMPOC Far-East Co., Ltd. 540,567 506,679 0.0% AmTRAN Technology Co., Ltd. 5,263,944 3,029,883 0.0% Anpec Electronics Corp. 511,448 465,130 0.0% # Apacer Technology, Inc. 706,918 710,618 0.0% # APCB, Inc. 815,000 527,242 0.0% # Apex Biotechnology Corp. 674,625 1,058,800 0.0% # Apex International Co., Ltd. 337,808 452,712 0.0% # Apex Medical Corp. 332,463 541,783 0.0% # Apex Science & Engineering 851,145 320,449 0.0% # Arcadyan Technology Corp. 766,137 953,344 0.0% # Ardentec Corp. 2,329,557 1,833,140 0.0% #* Arima Communications Corp. 1,225,153 555,508 0.0% Asia Cement Corp. 7,784,655 10,049,587 0.1% #* Asia Optical Co., Inc. 1,502,000 1,914,509 0.0% # Asia Plastic Recycling Holding, Ltd. 750,277 948,093 0.0% # Asia Polymer Corp. 2,125,200 1,457,860 0.0% Asia Vital Components Co., Ltd. 1,878,864 1,283,680 0.0% # ASROCK, Inc. 176,000 477,908 0.0% #* Astro Corp. 76,000 75,068 0.0% # Asustek Computer, Inc. 3,011,861 30,751,649 0.2% # Aten International Co., Ltd. 539,715 1,320,645 0.0% # AU Optronics Corp. 35,361,497 16,852,274 0.1% # AU Optronics Corp. Sponsored ADR 1,500,152 7,185,728 0.1% Audix Corp. 498,375 636,270 0.0% # AURAS Technology Co., Ltd. 115,822 65,126 0.0% # Aurora Corp. 407,226 675,012 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- TAIWAN -- (Continued) # AV Tech Corp. 201,000 $ 369,186 0.0% Avermedia Technologies 1,223,037 446,348 0.0% #* Avision, Inc. 1,034,263 280,945 0.0% # AVY Precision Technology, Inc. 266,000 764,243 0.0% # Awea Mechantronic Co., Ltd. 176,774 241,830 0.0% Bank of Kaohsiung Co., Ltd. 2,328,513 696,548 0.0% # Basso Industry Corp. 621,427 742,376 0.0% # BenQ Materials Corp. 981,000 993,559 0.0% # BES Engineering Corp. 9,189,050 2,362,127 0.0% #* Bin Chuan Enterprise Co., Ltd. 263,530 184,671 0.0% # Bionet Corp. 260,000 338,049 0.0% # Biostar Microtech International Corp. 1,058,712 385,158 0.0% # Bizlink Holding, Inc. 407,502 1,441,912 0.0% # Boardtek Electronics Corp. 839,000 1,035,440 0.0% Bright Led Electronics Corp. 784,180 314,977 0.0% # C Sun Manufacturing, Ltd. 835,740 590,976 0.0% # Cameo Communications, Inc. 1,245,116 260,634 0.0% # Capital Securities Corp. 12,716,210 4,111,247 0.1% # Career Technology MFG. Co., Ltd. 1,875,000 2,150,837 0.0% # Carnival Industrial Corp. 1,889,000 484,380 0.0% Carry Technology Co., Ltd. 342,000 154,337 0.0% # Catcher Technology Co., Ltd. 2,372,872 20,031,174 0.2% Cathay Chemical Works 35,000 17,094 0.0% # Cathay Financial Holding Co., Ltd. 18,317,499 30,193,928 0.2% # Cathay Real Estate Development Co., Ltd. 4,851,000 2,530,067 0.0% Celxpert Energy Corp. 108,000 68,287 0.0% #* Center Laboratories, Inc. 115,816 350,306 0.0% Central Reinsurance Co., Ltd. 621,774 327,092 0.0% # ChainQui Construction Development Co., Ltd. 425,464 313,040 0.0% # Chaintech Technology Corp. 205,470 215,002 0.0% Champion Building Materials Co., Ltd. 2,178,390 689,949 0.0% # Chang Hwa Commercial Bank, Ltd. 21,290,968 13,423,775 0.1% # Chang Wah Electromaterials, Inc. 264,800 541,574 0.0% Channel Well Technology Co., Ltd. 960,000 512,337 0.0% # Charoen Pokphand Enterprise 1,026,200 848,919 0.0% # Chaun-Choung Technology Corp. 534,000 1,489,508 0.0% CHC Resources Corp. 302,135 676,016 0.0% # Chen Full International Co., Ltd. 603,000 555,786 0.0% # Chenbro Micom Co., Ltd. 341,000 545,170 0.0% Cheng Loong Corp. 5,766,160 2,525,872 0.0% # Cheng Shin Rubber Industry Co., Ltd. 7,157,508 16,716,954 0.1% # Cheng Uei Precision Industry Co., Ltd. 2,895,630 4,835,452 0.1% #* Chenming Mold Industry Corp. 542,708 401,709 0.0% Chia Chang Co., Ltd. 846,000 816,357 0.0% # Chia Hsin Cement Corp. 2,422,747 1,144,164 0.0% Chicony Electronics Co., Ltd. 2,346,774 6,758,089 0.1% # Chien Kuo Construction Co., Ltd. 1,808,706 708,082 0.0% * Chien Shing Stainless Steel Co., Ltd. 350,000 63,750 0.0% Chilisin Electronics Corp. 537,481 479,362 0.0% # Chime Ball Technology Co., Ltd. 174,000 437,316 0.0% # Chimei Materials Technology Corp. 1,122,200 1,230,698 0.0% # Chin-Poon Industrial Co., Ltd. 1,975,617 3,171,849 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- TAIWAN -- (Continued) * China Airlines, Ltd. 14,771,057 $ 5,782,815 0.1% China Chemical & Pharmaceutical Co., Ltd. 1,715,000 1,153,514 0.0% China Development Financial Holding Corp. 58,748,157 18,883,913 0.1% # China Ecotek Corp. 160,000 320,182 0.0% #* China Electric Manufacturing Corp. 1,525,220 557,154 0.0% # China General Plastics Corp. 2,091,446 757,301 0.0% China Glaze Co., Ltd. 751,162 346,196 0.0% China Life Insurance Co., Ltd. 12,306,464 10,733,477 0.1% #* China Man-Made Fiber Corp. 7,151,662 1,892,092 0.0% # China Metal Products 1,663,405 1,366,963 0.0% China Motor Corp. 3,476,716 3,168,879 0.0% #* China Petrochemical Development Corp. 15,386,325 4,869,398 0.1% # China Steel Chemical Corp. 634,998 3,458,725 0.0% # China Steel Corp. 29,962,440 25,849,223 0.2% # China Steel Structure Co., Ltd. 633,000 566,545 0.0% China Synthetic Rubber Corp. 2,771,818 2,861,815 0.0% * China United Trust & Investment Corp. 50,053 -- 0.0% * China Wire & Cable Co., Ltd. 928,000 368,130 0.0% #* Chinese Gamer International Corp. 162,000 234,761 0.0% # Chinese Maritime Transport, Ltd. 683,460 765,070 0.0% # Chipbond Technology Corp. 3,124,000 5,760,294 0.1% # Chong Hong Construction Co., Ltd. 1,043,228 2,147,072 0.0% # Chroma ATE, Inc. 1,258,705 3,139,755 0.0% Chun YU Works & Co., Ltd. 1,409,000 607,678 0.0% Chun Yuan Steel 2,384,177 894,647 0.0% #* Chung Hsin Electric & Machinery Manufacturing Corp. 2,716,000 1,707,284 0.0% * Chung Hung Steel Corp. 5,325,926 1,300,040 0.0% #* Chung Hwa Pulp Corp. 3,066,530 874,730 0.0% # Chunghwa Chemical Synthesis & Biotech Co., Ltd. 272,000 290,164 0.0% * Chunghwa Picture Tubes, Ltd. 15,894,759 818,100 0.0% Chunghwa Telecom Co., Ltd. 3,164,000 9,653,463 0.1% # Chunghwa Telecom Co., Ltd. ADR 408,501 12,393,920 0.1% # Chyang Sheng Dyeing & Finishing Co., Ltd. 667,000 328,320 0.0% # Cleanaway Co., Ltd. 341,000 1,515,926 0.0% # Clevo Co. 2,051,482 3,642,678 0.0% #* CMC Magnetics Corp. 16,929,210 2,496,716 0.0% * CoAsia Microelectronics Corp. 533,400 198,012 0.0% # Collins Co., Ltd. 712,078 312,921 0.0% # Compal Electronics, Inc. 22,487,560 16,620,929 0.1% # Compeq Manufacturing Co., Ltd. 6,758,000 3,730,745 0.0% #* Concord Securities Corp. 2,447,000 634,655 0.0% Continental Holdings Corp. 2,934,250 1,086,393 0.0% Coretronic Corp. 3,560,250 5,358,422 0.1% * Cosmo Electronics Corp. 271,245 305,077 0.0% # Coxon Precise Industrial Co., Ltd. 717,000 1,261,752 0.0% # Creative Sensor, Inc. 389,000 298,044 0.0% #* Crystalwise Technology, Inc. 727,585 576,107 0.0% # CSBC Corp. Taiwan 2,859,150 1,503,732 0.0% CTBC Financial Holding Co., Ltd. 44,897,169 31,485,513 0.2% CTCI Corp. 2,467,896 4,034,670 0.0% # Cub Elecparts, Inc. 152,909 1,613,150 0.0% CviLux Corp. 352,672 558,707 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- TAIWAN -- (Continued) # Cyberlink Corp. 475,504 $ 1,375,906 0.0% # CyberPower Systems, Inc. 219,000 432,109 0.0% # CyberTAN Technology, Inc. 1,456,873 1,177,507 0.0% # D-Link Corp. 4,490,722 2,516,016 0.0% # DA CIN Construction Co., Ltd. 909,809 640,575 0.0% #* Da-Li Construction Co., Ltd. 411,439 473,965 0.0% # Dafeng TV, Ltd. 252,320 410,955 0.0% #* Danen Technology Corp. 2,373,000 822,614 0.0% Darfon Electronics Corp. 1,589,700 859,548 0.0% # Davicom Semiconductor, Inc. 170,392 176,335 0.0% Daxin Materials Corp. 293,150 380,992 0.0% #* De Licacy Industrial Co., Ltd. 139,000 52,260 0.0% #* Delpha Construction Co., Ltd. 1,287,754 603,907 0.0% Delta Electronics, Inc. 3,019,163 18,112,543 0.1% Depo Auto Parts Ind Co., Ltd. 672,634 2,437,170 0.0% DFI, Inc. 353,571 396,739 0.0% # Dimerco Express Corp. 454,000 361,217 0.0% # Dynacolor, Inc. 209,000 434,233 0.0% #* Dynamic Electronics Co., Ltd. 1,717,583 863,623 0.0% Dynapack International Technology Corp. 696,000 1,692,909 0.0% #* E Ink Holdings, Inc. 5,703,000 2,774,064 0.0% # E-Lead Electronic Co., Ltd. 419,846 754,398 0.0% # E-Life Mall Corp. 335,000 647,555 0.0% #* E-Ton Solar Tech Co., Ltd. 2,310,168 1,176,670 0.0% E.Sun Financial Holding Co., Ltd. 26,449,590 16,752,728 0.1% Eastern Media International Corp. 2,511,270 844,589 0.0% # Eclat Textile Co., Ltd. 772,534 7,369,341 0.1% # Edimax Technology Co., Ltd. 1,129,423 431,908 0.0% # Edison Opto Corp. 723,000 532,295 0.0% # Edom Technology Co., Ltd. 374,660 349,087 0.0% # eGalax_eMPIA Technology, Inc. 432,165 797,206 0.0% # Elan Microelectronics Corp. 1,758,323 2,791,780 0.0% # Elite Advanced Laser Corp. 456,000 1,433,888 0.0% Elite Material Co., Ltd. 1,832,839 2,159,587 0.0% # Elite Semiconductor Memory Technology, Inc. 1,364,390 2,075,497 0.0% Elitegroup Computer Systems Co., Ltd. 2,155,028 1,817,531 0.0% # eMemory Technology, Inc. 313,000 3,384,019 0.0% * Emerging Display Technologies Corp. 50,000 13,286 0.0% ENG Electric Co., Ltd. 748,247 457,078 0.0% EnTie Commercial Bank Co., Ltd. 2,149,166 947,622 0.0% * Entire Technology Co., Ltd. 30,000 23,408 0.0% * Episil Holdings, Inc. 939,500 435,519 0.0% # Epistar Corp. 4,551,898 8,231,214 0.1% # Eternal Materials Co., Ltd. 3,689,677 3,654,840 0.0% #* Etron Technology, Inc. 2,366,000 1,105,514 0.0% * Eva Airways Corp. 8,131,712 4,764,373 0.1% # Everest Textile Co., Ltd. 1,477,064 688,267 0.0% Evergreen International Storage & Transport Corp. 3,447,000 2,019,320 0.0% * Evergreen Marine Corp. Taiwan, Ltd. 9,340,472 5,520,875 0.1% # Everlight Chemical Industrial Corp. 2,104,244 1,749,895 0.0% # Everlight Electronics Co., Ltd. 2,262,570 4,292,863 0.1% # Everspring Industry Co., Ltd. 709,000 708,250 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- TAIWAN -- (Continued) # Excelsior Medical Co., Ltd. 550,049 $ 928,556 0.0% Far Eastern Department Stores, Ltd. 4,410,000 3,987,553 0.0% # Far Eastern International Bank 12,016,033 4,050,982 0.0% Far Eastern New Century Corp. 11,396,770 11,984,191 0.1% Far EasTone Telecommunications Co., Ltd. 5,777,000 12,784,922 0.1% # Faraday Technology Corp. 1,454,822 1,549,524 0.0% * Farglory F T Z Investment Holding Co., Ltd. 529,000 357,508 0.0% # Farglory Land Development Co., Ltd. 1,855,105 1,834,799 0.0% Federal Corp. 2,749,925 1,632,649 0.0% Feedback Technology Corp. 215,000 337,126 0.0% Feng Hsin Iron & Steel Co. 2,123,131 2,614,576 0.0% # Feng TAY Enterprise Co., Ltd. 1,401,329 3,621,374 0.0% # Fine Blanking & Tool Co., Ltd. 35,000 53,024 0.0% # Firich Enterprises Co., Ltd. 169,614 615,757 0.0% # First Copper Technology Co., Ltd. 1,044,000 356,001 0.0% First Financial Holding Co., Ltd. 32,514,056 20,018,097 0.2% First Hotel 873,730 563,436 0.0% First Insurance Co, Ltd. (The) 1,563,640 794,607 0.0% * First Steamship Co., Ltd. 2,162,838 1,412,470 0.0% # FLEXium Interconnect, Inc. 1,281,127 2,712,066 0.0% # Flytech Technology Co., Ltd. 477,200 1,706,581 0.0% #* Forhouse Corp. 2,237,304 868,897 0.0% # Formosa Advanced Technologies Co., Ltd. 1,108,000 743,339 0.0% # Formosa Chemicals & Fibre Corp. 8,061,198 18,769,851 0.1% #* Formosa Epitaxy, Inc. 2,501,797 1,282,392 0.0% # Formosa International Hotels Corp. 181,998 1,884,747 0.0% #* Formosa Laboratories, Inc. 133,178 258,016 0.0% # Formosa Oilseed Processing Co., Ltd. 421,891 273,800 0.0% # Formosa Optical Technology Co., Ltd. 199,000 554,633 0.0% # Formosa Petrochemical Corp. 1,883,000 4,420,003 0.1% # Formosa Plastics Corp. 8,406,770 19,414,306 0.1% Formosa Taffeta Co., Ltd. 3,607,460 3,647,488 0.0% Formosan Rubber Group, Inc. 2,766,000 3,016,706 0.0% Formosan Union Chemical 1,444,401 597,820 0.0% # Fortune Electric Co., Ltd. 678,304 331,185 0.0% Founding Construction & Development Co., Ltd. 1,103,067 744,645 0.0% Foxconn Technology Co., Ltd. 3,860,937 10,301,639 0.1% # Foxlink Image Technology Co., Ltd. 711,000 427,633 0.0% #* Froch Enterprise Co., Ltd. 1,049,000 433,285 0.0% # FSP Technology, Inc. 1,082,414 901,420 0.0% Fubon Financial Holding Co., Ltd. 16,386,387 27,740,883 0.2% # Fullerton Technology Co., Ltd. 601,670 494,542 0.0% # Fulltech Fiber Glass Corp. 2,012,540 726,257 0.0% # Fwusow Industry Co., Ltd. 850,334 421,894 0.0% G Shank Enterprise Co., Ltd. 854,510 764,786 0.0% #* G Tech Optoelectronics Corp. 1,244,000 1,013,365 0.0% # Gallant Precision Machining Co., Ltd. 993,000 393,767 0.0% # Gamania Digital Entertainment Co., Ltd. 555,000 527,035 0.0% * GEM Terminal Industrial Co., Ltd. 313,938 124,540 0.0% # Gemtek Technology Corp. 2,109,574 1,548,239 0.0% General Plastic Industrial Co., Ltd. 220,684 239,286 0.0% #* Genesis Photonics, Inc. 1,892,418 938,116 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- TAIWAN -- (Continued) #* Genius Electronic Optical Co., Ltd. 429,810 $ 1,205,549 0.0% #* Genmont Biotech, Inc. 317,314 419,957 0.0% # GeoVision, Inc. 316,476 1,151,107 0.0% # Getac Technology Corp. 2,497,281 1,257,948 0.0% Giant Manufacturing Co., Ltd. 855,363 6,925,854 0.1% #* Giantplus Technology Co., Ltd. 1,410,000 485,234 0.0% # Giga Solution Tech Co., Ltd. 646,044 400,334 0.0% # Gigabyte Technology Co., Ltd. 3,411,750 3,927,522 0.0% # Gigasolar Materials Corp. 117,820 1,984,853 0.0% #* Gigastorage Corp. 1,812,728 1,597,651 0.0% # Ginko International Co., Ltd. 132,000 1,777,621 0.0% #* Gintech Energy Corp. 2,625,784 2,054,684 0.0% * Global Brands Manufacture, Ltd. 1,893,973 597,013 0.0% # Global Lighting Technologies, Inc. 448,000 604,749 0.0% Global Mixed Mode Technology, Inc. 444,000 1,191,979 0.0% # Global Unichip Corp. 443,000 1,338,461 0.0% # Globe Union Industrial Corp. 1,186,820 582,373 0.0% # Gloria Material Technology Corp. 3,033,851 2,007,516 0.0% Glory Science Co., Ltd. 224,866 308,151 0.0% #* Glotech Industrial Corp. 62,000 14,425 0.0% #* Gold Circuit Electronics, Ltd. 2,644,747 1,095,126 0.0% #* Goldsun Development & Construction Co., Ltd. 8,321,672 2,943,074 0.0% Good Will Instrument Co., Ltd. 203,486 144,849 0.0% # Gourmet Master Co., Ltd. 234,000 1,481,165 0.0% # Grand Pacific Petrochemical 6,040,000 2,893,965 0.0% # Grape King Bio, Ltd. 609,000 2,545,640 0.0% # Great China Metal Industry 886,000 817,781 0.0% # Great Taipei Gas Co., Ltd. 1,390,000 1,065,307 0.0% # Great Wall Enterprise Co., Ltd. 3,071,797 2,785,926 0.0% #* Green Energy Technology, Inc. 1,887,640 1,232,196 0.0% * GTM Corp. 860,000 612,657 0.0% # Gudeng Precision Industrial Co., Ltd. 136,300 186,229 0.0% * Hannstar Board Corp. 1,676,875 630,258 0.0% # HannStar Display Corp. 19,388,323 4,884,008 0.1% #* HannsTouch Solution, Inc. 5,878,262 1,225,140 0.0% Harvatek Corp. 964,316 554,221 0.0% Hey Song Corp. 1,697,500 2,031,944 0.0% # Hi-Clearance, Inc. 124,000 402,767 0.0% # Highwealth Construction Corp. 2,269,023 3,927,107 0.0% # Hiroca Holdings, Ltd. 256,221 799,245 0.0% #* HiTi Digital, Inc. 666,975 332,202 0.0% # Hitron Technology, Inc. 1,389,300 693,834 0.0% # Hiwin Technologies Corp. 736,245 5,824,876 0.1% * Hiyes International Co., Ltd. 2,260 4,124 0.0% # Ho Tung Chemical Corp. 5,200,172 1,830,256 0.0% Hocheng Corp. 1,792,300 613,587 0.0% * Hold-Key Electric Wire & Cable Co., Ltd. 266,901 69,427 0.0% # Holiday Entertainment Co., Ltd. 287,400 329,132 0.0% # Holtek Semiconductor, Inc. 878,000 1,492,767 0.0% Holy Stone Enterprise Co., Ltd. 1,276,822 1,694,715 0.0% Hon Hai Precision Industry Co., Ltd. 44,256,377 140,071,295 0.9% # Hong Ho Precision Textile Co., Ltd. 234,000 222,750 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- TAIWAN -- (Continued) # Hong TAI Electric Industrial 1,327,000 $ 436,478 0.0% # Hong YI Fiber Industry Co. 55,680 22,489 0.0% Horizon Securities Co., Ltd. 2,888,000 787,019 0.0% # Hota Industrial Manufacturing Co., Ltd. 908,449 1,627,745 0.0% Hotai Motor Co., Ltd. 697,000 10,199,270 0.1% #* Howarm United Industries Co., Ltd. 207,310 296,825 0.0% # Hsin Kuang Steel Co., Ltd. 1,504,783 855,369 0.0% Hsin Yung Chien Co., Ltd. 199,100 720,602 0.0% # Hsing TA Cement Co. 361,000 157,514 0.0% #* HTC Corp. 3,010,619 13,330,622 0.1% # Hu Lane Associate, Inc. 433,688 1,518,051 0.0% # HUA ENG Wire & Cable 2,557,000 845,868 0.0% Hua Nan Financial Holdings Co., Ltd. 23,768,728 14,083,734 0.1% # Huaku Development Co., Ltd. 1,354,400 2,225,181 0.0% # Huang Hsiang Construction Corp. 612,735 795,151 0.0% # Hung Ching Development & Construction Co., Ltd. 681,000 365,680 0.0% Hung Poo Real Estate Development Corp. 1,724,554 1,299,643 0.0% # Hung Sheng Construction, Ltd. 3,370,900 2,067,331 0.0% # Huxen Corp. 239,072 333,835 0.0% Hwa Fong Rubber Co., Ltd. 1,790,561 1,324,349 0.0% # Hwacom Systems, Inc. 221,000 117,384 0.0% # I-Chiun Precision Industry Co., Ltd. 1,091,211 638,075 0.0% I-Sheng Electric Wire & Cable Co., Ltd. 621,000 838,535 0.0% # Ibase Technology, Inc. 513,961 920,548 0.0% # Ichia Technologies, Inc. 1,950,255 2,131,990 0.0% # Ideal Bike Corp. 19,553 8,517 0.0% # IEI Integration Corp. 754,693 1,203,011 0.0% ILI Technology Corp. 384,081 862,643 0.0% # Infortrend Technology, Inc. 1,397,866 780,088 0.0% # Innolux Corp. 49,068,151 22,423,928 0.2% #* Inotera Memories, Inc. 8,868,528 13,706,096 0.1% # Inpaq Technology Co., Ltd. 217,000 301,936 0.0% # Insyde Software Corp. 118,000 192,532 0.0% # International Games System Co., Ltd. 50,000 217,907 0.0% # Inventec Corp. 11,539,276 8,029,207 0.1% ITE Technology, Inc. 787,646 824,555 0.0% # ITEQ Corp. 1,365,611 1,065,009 0.0% #* J Touch Corp. 841,000 454,589 0.0% * Janfusun Fancyworld Corp. 1,103,468 166,205 0.0% * Jenn Feng New Energy Co., Ltd. 646,000 127,856 0.0% # Jentech Precision Industrial Co., Ltd. 344,156 772,305 0.0% # Jess-Link Products Co., Ltd. 921,600 821,346 0.0% Jih Sun Financial Holdings Co., Ltd. 4,770,772 1,272,874 0.0% Johnson Health Tech Co., Ltd. 390,296 914,252 0.0% K Laser Technology, Inc. 883,459 437,701 0.0% Kang Na Hsiung Enterprise Co., Ltd. 719,150 333,176 0.0% Kao Hsing Chang Iron & Steel 354,250 123,723 0.0% # Kaori Heat Treatment Co., Ltd. 335,110 652,743 0.0% # Kaulin Manufacturing Co., Ltd. 834,684 560,240 0.0% # KD Holding Corp. 97,000 524,432 0.0% # KEE TAI Properties Co., Ltd. 2,441,101 1,402,252 0.0% # Kenda Rubber Industrial Co., Ltd. 2,454,922 5,011,954 0.1% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- TAIWAN -- (Continued) # Kenmec Mechanical Engineering Co., Ltd. 1,282,000 $ 569,076 0.0% Kerry TJ Logistics Co., Ltd. 1,286,000 1,607,809 0.0% Keysheen Cayman Holdings Co., Ltd. 14,000 21,628 0.0% # Kindom Construction Corp. 2,316,000 1,997,736 0.0% # King Core Electronics, Inc. 77,835 49,222 0.0% # King Slide Works Co., Ltd. 218,450 2,868,243 0.0% # King Yuan Electronics Co., Ltd. 8,019,032 6,353,038 0.1% King's Town Bank Co., Ltd. 4,454,653 4,871,992 0.1% * King's Town Construction Co., Ltd. 906,579 794,308 0.0% # Kinik Co. 588,000 1,190,880 0.0% # Kinko Optical Co., Ltd. 938,772 647,013 0.0% #* Kinpo Electronics 7,601,892 3,318,419 0.0% # Kinsus Interconnect Technology Corp. 1,291,476 4,860,287 0.1% # KMC Kuei Meng International, Inc. 169,000 696,163 0.0% # KS Terminals, Inc. 578,290 661,527 0.0% # Kung Long Batteries Industrial Co., Ltd. 321,000 1,079,304 0.0% Kung Sing Engineering Corp. 1,961,000 790,342 0.0% # Kuo Toong International Co., Ltd. 857,000 1,272,352 0.0% Kuoyang Construction Co., Ltd. 2,539,586 1,085,303 0.0% # Kwong Fong Industries Corp. 1,298,000 713,596 0.0% KYE Systems Corp. 1,678,558 578,308 0.0% # L&K Engineering Co., Ltd. 686,000 561,080 0.0% LAN FA Textile 1,020,412 316,762 0.0% # Largan Precision Co., Ltd. 212,234 14,909,290 0.1% Laser Tek Taiwan Co., Ltd. 22,144 16,953 0.0% # LCY Chemical Corp. 2,738,495 1,331,007 0.0% # Leader Electronics, Inc. 843,886 296,067 0.0% # Leadtrend Technology Corp. 166,926 211,329 0.0% * Lealea Enterprise Co., Ltd. 4,409,965 1,247,435 0.0% # Ledtech Electronics Corp. 573,095 286,156 0.0% LEE CHI Enterprises Co., Ltd. 1,148,000 505,464 0.0% # Lelon Electronics Corp. 518,900 631,037 0.0% #* Leofoo Development Co. 1,442,614 522,546 0.0% #* LES Enphants Co., Ltd. 1,010,479 572,167 0.0% # Lextar Electronics Corp. 2,381,000 1,987,240 0.0% #* Li Peng Enterprise Co., Ltd. 3,562,677 1,226,502 0.0% # Lian HWA Food Corp. 438,802 464,151 0.0% Lien Hwa Industrial Corp. 3,504,809 2,276,070 0.0% # Lingsen Precision Industries, Ltd. 2,330,490 1,187,358 0.0% # Lite-On Semiconductor Corp. 1,318,887 868,726 0.0% Lite-On Technology Corp. 8,301,453 11,650,400 0.1% # Long Bon International Co., Ltd. 2,248,875 1,372,957 0.0% Long Chen Paper Co., Ltd. 3,319,320 1,661,604 0.0% # Longwell Co. 714,000 631,631 0.0% Lotes Co., Ltd. 372,920 1,549,114 0.0% Lucky Cement Corp. 1,323,000 437,886 0.0% # Lumax International Corp., Ltd. 493,140 1,054,037 0.0% # Lung Yen Life Service Corp. 440,000 1,295,975 0.0% # Macroblock, Inc. 182,000 362,356 0.0% #* Macronix International 24,913,994 5,598,383 0.1% #* MacroWell OMG Digital Entertainment Co., Ltd. 130,000 274,399 0.0% # Mag Layers Scientific-Technics Co., Ltd. 298,233 315,787 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- TAIWAN -- (Continued) # Makalot Industrial Co., Ltd. 987,149 $ 5,164,758 0.1% # Marketech International Corp. 770,000 543,329 0.0% Masterlink Securities Corp. 7,107,232 2,264,947 0.0% Mayer Steel Pipe Corp. 876,905 416,796 0.0% # Maywufa Co., Ltd. 178,462 82,131 0.0% # MediaTek, Inc. 2,003,823 28,620,517 0.2% #* Medigen Biotechnology Corp. 48,253 209,367 0.0% Mega Financial Holding Co., Ltd. 29,350,480 24,343,213 0.2% # Meiloon Industrial Co. 497,721 210,317 0.0% Mercuries & Associates, Ltd. 2,189,125 1,267,339 0.0% * Mercuries Life Insurance Co., Ltd. 896,933 503,718 0.0% # Merida Industry Co., Ltd. 778,588 5,378,198 0.1% # Merry Electronics Co., Ltd. 1,027,594 4,155,686 0.1% # Micro-Star International Co., Ltd. 4,720,465 5,781,447 0.1% #* Microbio Co., Ltd. 1,660,358 1,446,498 0.0% #* Microelectronics Technology, Inc. 1,389,448 670,753 0.0% # Microlife Corp. 238,100 507,432 0.0% # MIN AIK Technology Co., Ltd. 624,562 2,759,712 0.0% # Mirle Automation Corp. 921,923 767,339 0.0% # Mitac Holdings Corp. 2,995,568 2,319,016 0.0% # Mobiletron Electronics Co., Ltd. 326,000 680,518 0.0% #* Mosel Vitelic, Inc. 2,204,758 474,760 0.0% # Motech Industries, Inc. 2,204,000 2,724,938 0.0% # MPI Corp. 423,000 1,264,455 0.0% # Nak Sealing Technologies Corp. 318,549 1,100,961 0.0% Namchow Chemical Industrial Co., Ltd. 912,000 1,470,019 0.0% Nan Kang Rubber Tire Co., Ltd. 2,462,197 2,701,798 0.0% Nan Ren Lake Leisure Amusement Co., Ltd. 1,148,000 433,944 0.0% # Nan Ya Plastics Corp. 11,697,584 24,208,964 0.2% #* Nan Ya Printed Circuit Board Corp. 1,588,211 2,204,798 0.0% # Nantex Industry Co., Ltd. 1,432,442 715,402 0.0% # National Petroleum Co., Ltd. 736,000 840,729 0.0% # Neo Solar Power Corp. 4,006,390 3,798,502 0.0% # Netronix, Inc. 489,000 530,429 0.0% New Asia Construction & Development Corp. 873,423 229,572 0.0% # New Era Electronics Co., Ltd. 418,000 437,953 0.0% # Newmax Technology Co., Ltd. 478,916 558,825 0.0% # Nexcom International Co., Ltd. 268,267 444,085 0.0% # Nichidenbo Corp. 716,665 561,258 0.0% Nien Hsing Textile Co., Ltd. 1,681,093 1,390,033 0.0% # Nishoku Technology, Inc. 121,000 166,862 0.0% # Novatek Microelectronics Corp. 1,995,000 10,326,235 0.1% # Nuvoton Technology Corp. 378,000 332,678 0.0% #* O-TA Precision Industry Co., Ltd. 103,000 56,608 0.0% #* Ocean Plastics Co., Ltd. 1,000,000 1,197,980 0.0% # Oneness Biotech Co., Ltd. 153,400 258,435 0.0% * Optimax Technology Corp. 204,366 31,935 0.0% # OptoTech Corp. 3,344,713 1,366,518 0.0% #* Orient Semiconductor Electronics, Ltd. 2,955,000 1,149,350 0.0% # Oriental Union Chemical Corp. 3,346,819 2,531,797 0.0% # Orise Technology Co., Ltd. 479,000 571,913 0.0% #* P-Two Industries, Inc. 82,000 35,052 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- TAIWAN -- (Continued) # Pacific Construction Co. 704,276 $ 236,038 0.0% # Pacific Hospital Supply Co., Ltd. 382,000 816,716 0.0% #* Pan Jit International, Inc. 2,202,860 922,030 0.0% # Pan-International Industrial Corp. 2,489,854 1,551,048 0.0% # Parade Technologies, Ltd. 214,805 2,039,606 0.0% # Paragon Technologies Co., Ltd. 431,626 622,048 0.0% # PChome Online, Inc. 399,109 4,049,390 0.0% # Pegatron Corp. 8,792,293 16,023,899 0.1% * PharmaEngine, Inc. 20,438 163,893 0.0% # Phihong Technology Co., Ltd. 1,536,048 809,812 0.0% Phison Electronics Corp. 671,000 4,532,109 0.1% # Phoenix Tours International, Inc. 241,000 329,162 0.0% #* Phytohealth Corp. 258,878 294,712 0.0% #* Pihsiang Machinery Manufacturing Co., Ltd. 429,000 775,841 0.0% # Pixart Imaging, Inc. 769,000 1,708,045 0.0% * Plotech Co., Ltd. 216,000 80,790 0.0% # Polytronics Technology Corp. 252,408 559,386 0.0% # Portwell, Inc. 557,000 765,143 0.0% # Posiflex Technology, Inc. 245,337 1,105,910 0.0% Pou Chen Corp. 9,992,005 11,018,065 0.1% # Power Mate Technology Co., Ltd. 118,000 224,985 0.0% #* Power Quotient International Co., Ltd. 1,078,400 549,322 0.0% * Powercom Co., Ltd. 844,730 134,168 0.0% #* Powertech Industrial Co., Ltd. 410,000 297,267 0.0% # Powertech Technology, Inc. 4,064,580 6,833,577 0.1% Poya Co., Ltd. 274,996 1,853,651 0.0% President Chain Store Corp. 1,720,728 12,890,333 0.1% President Securities Corp. 4,687,213 2,452,002 0.0% # Prime Electronics Satellitics, Inc. 834,511 330,924 0.0% # Prince Housing & Development Corp. 6,168,140 2,314,463 0.0% #* Princeton Technology Corp. 1,062,000 389,409 0.0% * Prodisc Technology, Inc. 603,000 -- 0.0% # Promate Electronic Co., Ltd. 855,000 994,017 0.0% # Promise Technology, Inc. 975,538 1,154,552 0.0% * Protop Technology Co., Ltd. 148,000 -- 0.0% #* Qisda Corp. 10,855,525 4,876,481 0.1% # Qualipoly Chemical Corp. 429,000 310,134 0.0% # Quanta Computer, Inc. 6,228,436 15,680,174 0.1% # Quanta Storage, Inc. 1,294,000 1,425,879 0.0% #* Quintain Steel Co., Ltd. 2,100,059 433,007 0.0% # Radiant Opto-Electronics Corp. 2,131,692 7,448,787 0.1% # Radium Life Tech Co., Ltd. 4,331,570 2,490,332 0.0% Ralec Electronic Corp. 207,914 391,586 0.0% # Realtek Semiconductor Corp. 2,083,861 6,907,398 0.1% # Rechi Precision Co., Ltd. 1,455,292 1,458,830 0.0% # Rexon Industrial Corp., Ltd. 51,559 19,787 0.0% # Rich Development Co., Ltd. 3,936,769 1,635,490 0.0% # Richtek Technology Corp. 679,175 3,277,366 0.0% #* Ritek Corp. 17,791,268 2,027,737 0.0% # Rotam Global Agrosciences, Ltd. 297,000 528,256 0.0% # Roundtop Machinery Industries Co., Ltd. 50,000 37,690 0.0% # Ruentex Development Co., Ltd. 2,228,889 3,327,208 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- TAIWAN -- (Continued) # Ruentex Engineering & Construction Co. 243,000 $ 496,289 0.0% # Ruentex Industries, Ltd. 2,319,779 4,959,176 0.1% # Run Long Construction Co., Ltd. 419,000 392,375 0.0% # Sampo Corp. 3,502,119 1,387,630 0.0% # San Fang Chemical Industry Co., Ltd. 773,198 745,786 0.0% # San Shing Fastech Corp. 408,475 1,062,475 0.0% #* Sanyang Industry Co., Ltd. 3,578,802 3,163,497 0.0% # SCI Pharmtech, Inc. 225,312 440,732 0.0% # Scientech Corp. 206,000 437,894 0.0% # ScinoPharm Taiwan, Ltd. 642,470 1,301,367 0.0% # SDI Corp. 674,000 864,359 0.0% Sea Sonic Electronics Co., Ltd. 180,000 282,376 0.0% # Senao International Co., Ltd. 458,547 838,349 0.0% # Sercomm Corp. 1,068,000 2,384,732 0.0% Sesoda Corp. 790,452 901,504 0.0% Shan-Loong Transportation Co., Ltd. 150,247 116,742 0.0% Sheng Yu Steel Co., Ltd. 699,000 462,401 0.0% # ShenMao Technology, Inc. 523,450 556,449 0.0% # Shih Her Technologies, Inc. 254,000 463,471 0.0% Shih Wei Navigation Co., Ltd. 1,256,887 773,559 0.0% Shihlin Electric & Engineering Corp. 1,533,787 2,003,938 0.0% * Shihlin Paper Corp. 456,000 588,642 0.0% Shin Hai Gas Corp. 7,658 10,717 0.0% # Shin Kong Financial Holding Co., Ltd. 37,782,716 11,475,934 0.1% Shin Shin Natural Gas Co. 9,480 10,279 0.0% # Shin Zu Shing Co., Ltd. 809,245 1,779,683 0.0% #* Shining Building Business Co., Ltd. 2,024,324 1,222,441 0.0% Shinkong Insurance Co., Ltd. 1,520,784 1,135,465 0.0% # Shinkong Synthetic Fibers Corp. 9,548,844 3,393,167 0.0% # Shinkong Textile Co., Ltd. 867,169 1,142,205 0.0% Shiny Chemical Industrial Co., Ltd. 324,717 472,144 0.0% # Shuttle, Inc. 1,771,000 482,223 0.0% Sigurd Microelectronics Corp. 2,210,877 2,116,110 0.0% #* Silicon Integrated Systems Corp. 3,257,233 902,840 0.0% # Silicon Power Computer & Communications, Inc. 303,000 286,927 0.0% # Siliconware Precision Industries Co. 8,465,492 12,076,146 0.1% # Siliconware Precision Industries Co. Sponsored ADR 456,091 3,251,929 0.0% # Silitech Technology Corp. 932,117 629,629 0.0% Simplo Technology Co., Ltd. 1,338,800 6,513,342 0.1% # Sinbon Electronics Co., Ltd. 1,176,000 1,524,083 0.0% Sincere Navigation Corp. 2,009,370 1,740,128 0.0% # Singatron Enterprise Co., Ltd. 373,000 141,877 0.0% Sinkang Industries Co., Ltd. 177,866 64,369 0.0% # Sinmag Equipment Corp. 229,442 1,472,146 0.0% # Sino-American Silicon Products, Inc. 3,418,000 5,282,260 0.1% # Sinon Corp. 2,189,740 1,191,828 0.0% SinoPac Financial Holdings Co., Ltd. 33,680,475 14,623,221 0.1% # Sinphar Pharmaceutical Co., Ltd. 681,526 957,952 0.0% # Sinyi Realty, Inc. 1,382,460 1,643,262 0.0% # Sirtec International Co., Ltd. 691,000 1,465,924 0.0% Sitronix Technology Corp. 660,774 1,597,688 0.0% Siward Crystal Technology Co., Ltd. 994,705 715,128 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- TAIWAN -- (Continued) # Soft-World International Corp. 580,000 $ 1,532,779 0.0% Solar Applied Materials Technology Co. 2,074,084 1,633,292 0.0% #* Solartech Energy Corp. 2,096,062 1,342,330 0.0% Solomon Technology Corp. 238,537 145,783 0.0% #* Solytech Enterprise Corp. 1,152,676 313,206 0.0% Sonix Technology Co., Ltd. 758,000 1,069,451 0.0% Southeast Cement Co., Ltd. 1,110,000 570,805 0.0% # Spirox Corp. 225,145 173,301 0.0% # Sporton International, Inc. 359,764 1,743,458 0.0% # St Shine Optical Co., Ltd. 282,000 4,954,158 0.1% # Standard Chemical & Pharmaceutical Co., Ltd. 485,040 600,989 0.0% # Standard Foods Corp. 839,310 1,936,494 0.0% # Stark Technology, Inc. 709,400 664,974 0.0% # Sunonwealth Electric Machine Industry Co., Ltd. 698,001 458,421 0.0% #* Sunplus Technology Co., Ltd. 2,039,153 777,331 0.0% # Sunrex Technology Corp. 993,351 546,689 0.0% # Sunspring Metal Corp. 676,000 1,076,413 0.0% # Super Dragon Technology Co., Ltd. 262,330 150,755 0.0% # Supreme Electronics Co., Ltd. 1,444,875 803,038 0.0% # Swancor Ind Co., Ltd. 218,061 855,766 0.0% Sweeten Construction Co., Ltd. 834,784 477,573 0.0% Syncmold Enterprise Corp. 673,000 1,287,425 0.0% # Synmosa Biopharma Corp. 71,495 95,142 0.0% # Synnex Technology International Corp. 5,661,745 7,959,584 0.1% # Sysage Technology Co., Ltd. 446,985 502,242 0.0% Systex Corp. 87,293 159,600 0.0% # T-Mac Techvest PCB Co., Ltd. 568,000 289,415 0.0% # TA Chen Stainless Pipe 3,762,805 2,317,646 0.0% * Ta Chong Bank, Ltd. 12,345,549 4,103,533 0.0% # Ta Chong Securities Co., Ltd. 1,111,000 370,244 0.0% # Ta Ya Electric Wire & Cable 3,031,520 652,249 0.0% # Ta Yih Industrial Co., Ltd. 87,000 204,206 0.0% # TA-I Technology Co., Ltd. 1,037,296 579,260 0.0% Tah Hsin Industrial Co., Ltd. 456,300 432,800 0.0% TAI Roun Products Co., Ltd. 263,000 87,832 0.0% # Tai Tung Communication Co., Ltd. 341,056 491,908 0.0% # Taichung Commercial Bank Co., Ltd. 12,989,538 4,360,363 0.1% # TaiDoc Technology Corp. 208,000 664,276 0.0% # Taiflex Scientific Co., Ltd. 902,000 1,338,557 0.0% # Taimide Tech, Inc. 402,000 529,885 0.0% # Tainan Enterprises Co., Ltd. 743,289 615,701 0.0% # Tainan Spinning Co., Ltd. 6,664,061 3,697,719 0.0% Taishin Financial Holding Co., Ltd. 39,195,248 18,697,442 0.1% #* Taisun Enterprise Co., Ltd. 1,806,578 683,890 0.0% #* Taita Chemical Co., Ltd. 1,184,609 327,591 0.0% # Taiwan Acceptance Corp. 680,000 1,645,703 0.0% * Taiwan Business Bank 18,514,457 5,569,740 0.1% # Taiwan Cement Corp. 13,931,350 21,311,322 0.2% # Taiwan Chinsan Electronic Industrial Co., Ltd. 447,000 720,703 0.0% # Taiwan Cogeneration Corp. 2,158,657 1,710,562 0.0% Taiwan Cooperative Financial Holding Co., Ltd. 25,182,250 13,468,955 0.1% # Taiwan FamilyMart Co., Ltd. 161,000 1,031,471 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- TAIWAN -- (Continued) # Taiwan Fertilizer Co., Ltd. 3,492,000 $ 6,195,196 0.1% Taiwan Fire & Marine Insurance Co., Ltd. 1,002,880 723,858 0.0% * Taiwan Flourescent Lamp Co., Ltd. 119,000 -- 0.0% # Taiwan FU Hsing Industrial Co., Ltd. 761,000 730,919 0.0% # Taiwan Glass Industry Corp. 4,131,895 3,205,502 0.0% # Taiwan Hon Chuan Enterprise Co., Ltd. 1,378,359 2,258,947 0.0% # Taiwan Hopax Chemicals Manufacturing Co., Ltd. 945,000 646,440 0.0% * Taiwan Kolin Co., Ltd. 508,000 -- 0.0% Taiwan Land Development Corp. 4,723,766 1,678,264 0.0% #* Taiwan Life Insurance Co., Ltd. 2,226,695 1,334,406 0.0% # Taiwan Line Tek Electronic 404,066 306,029 0.0% Taiwan Mask Corp. 1,011,050 313,723 0.0% Taiwan Mobile Co., Ltd. 3,440,900 11,165,457 0.1% Taiwan Navigation Co., Ltd. 1,011,720 717,725 0.0% # Taiwan Paiho, Ltd. 1,564,152 2,177,813 0.0% Taiwan PCB Techvest Co., Ltd. 1,600,816 2,362,066 0.0% #* Taiwan Prosperity Chemical Corp. 942,000 670,422 0.0% #* Taiwan Pulp & Paper Corp. 2,228,260 834,894 0.0% # Taiwan Sakura Corp. 1,395,304 969,030 0.0% # Taiwan Sanyo Electric Co., Ltd. 424,650 443,063 0.0% Taiwan Secom Co., Ltd. 979,405 2,597,011 0.0% Taiwan Semiconductor Co., Ltd. 1,372,000 1,252,417 0.0% # Taiwan Semiconductor Manufacturing Co., Ltd. 40,714,652 176,492,743 1.1% Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR 3,587,659 79,000,251 0.5% Taiwan Sogo Shin Kong SEC 1,126,561 1,424,731 0.0% # Taiwan Styrene Monomer 3,636,404 1,501,152 0.0% # Taiwan Surface Mounting Technology Co., Ltd. 1,690,928 2,369,241 0.0% # Taiwan TEA Corp. 4,324,896 2,349,422 0.0% Taiwan Union Technology Corp. 1,347,000 1,119,705 0.0% # Taiyen Biotech Co., Ltd. 1,057,910 845,936 0.0% * Tang Eng Iron Works Co., Ltd. 23,000 34,198 0.0% * Tatung Co., Ltd. 14,046,588 3,989,273 0.0% # Te Chang Construction Co., Ltd. 486,003 398,258 0.0% Teco Electric and Machinery Co., Ltd. 8,707,000 9,688,058 0.1% * Tecom Co., Ltd. 197,000 17,043 0.0% #* Tekcore Co., Ltd. 359,000 105,266 0.0% # Ten Ren Tea Co., Ltd. 180,170 277,356 0.0% Test Research, Inc. 944,370 1,541,937 0.0% Test-Rite International Co., Ltd. 1,761,166 1,163,725 0.0% # Tex-Ray Industrial Co., Ltd. 651,000 282,256 0.0% # ThaiLin Semiconductor Corp. 856,000 573,161 0.0% # Thinking Electronic Industrial Co., Ltd. 471,058 685,056 0.0% Thye Ming Industrial Co., Ltd. 939,992 1,045,350 0.0% # TNC Industrial Corp., Ltd. 71,000 34,649 0.0% # Ton Yi Industrial Corp. 3,340,300 1,986,041 0.0% # Tong Hsing Electronic Industries, Ltd. 789,534 3,008,018 0.0% # Tong Yang Industry Co., Ltd. 2,680,341 2,737,332 0.0% # Tong-Tai Machine & Tool Co., Ltd. 1,195,210 1,061,028 0.0% Topco Scientific Co., Ltd. 855,790 1,547,193 0.0% # Topco Technologies Corp. 196,000 434,593 0.0% # Topoint Technology Co., Ltd. 882,771 839,410 0.0% # Toung Loong Textile Manufacturing 501,000 1,398,829 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- TAIWAN -- (Continued) # TPK Holding Co., Ltd. 444,000 $ 2,621,079 0.0% # Trade-Van Information Services Co. 334,000 292,933 0.0% # Transasia Airways Corp. 791,000 296,492 0.0% Transcend Information, Inc. 640,870 2,165,340 0.0% # Tripod Technology Corp. 2,199,660 4,117,294 0.1% # Tsann Kuen Enterprise Co., Ltd. 553,441 582,471 0.0% # TSC Auto ID Technology Co., Ltd. 112,000 836,588 0.0% # TSRC Corp. 2,020,154 2,272,984 0.0% # Ttet Union Corp. 221,000 522,030 0.0% # TTFB Co., Ltd. 47,000 414,210 0.0% # TTY Biopharm Co., Ltd. 691,991 1,290,155 0.0% Tung Ho Steel Enterprise Corp. 5,361,645 4,228,047 0.1% # Tung Ho Textile Co., Ltd. 561,000 147,352 0.0% # Tung Thih Electronic Co., Ltd. 385,848 1,202,887 0.0% # TURVO International Co., Ltd. 333,464 1,045,819 0.0% TXC Corp. 1,580,762 1,959,271 0.0% * TYC Brother Industrial Co., Ltd. 1,099,333 606,782 0.0% #* Tycoons Group Enterprise 2,870,121 529,000 0.0% * Tyntek Corp. 1,389,953 311,199 0.0% TZE Shin International Co., Ltd. 243,662 70,760 0.0% U-Ming Marine Transport Corp. 1,823,200 2,858,905 0.0% * U-Tech Media Corp. 250,000 50,682 0.0% # Ubright Optronics Corp. 228,000 329,652 0.0% Uni-President Enterprises Corp. 14,594,052 25,094,293 0.2% Unic Technology Corp. 245,439 103,884 0.0% Unimicron Technology Corp. 8,495,563 6,539,509 0.1% * Union Bank Of Taiwan 4,276,983 1,450,756 0.0% #* Union Insurance Co., Ltd. 451,895 393,786 0.0% Unitech Computer Co., Ltd. 669,365 385,879 0.0% # Unitech Printed Circuit Board Corp. 3,301,921 1,354,139 0.0% # United Integrated Services Co., Ltd. 1,224,800 1,164,286 0.0% # United Microelectronics Corp. 54,371,441 24,140,864 0.2% # Unity Opto Technology Co., Ltd. 1,734,276 1,532,408 0.0% Universal Cement Corp. 2,411,048 2,122,423 0.0% Unizyx Holding Corp. 2,465,496 1,455,230 0.0% # UPC Technology Corp. 4,470,471 1,530,002 0.0% # Userjoy Technology Co., Ltd. 107,000 161,225 0.0% # USI Corp. 4,401,557 2,084,992 0.0% Vanguard International Semiconductor Corp. 3,954,000 5,940,401 0.1% # Ve Wong Corp. 692,524 510,925 0.0% # Viking Tech Corp. 330,464 226,881 0.0% # Visual Photonics Epitaxy Co., Ltd. 1,220,966 1,091,828 0.0% # Vivotek, Inc. 477,856 1,646,594 0.0% #* Wafer Works Corp. 2,149,000 891,242 0.0% # Wah Hong Industrial Corp. 352,280 370,066 0.0% Wah Lee Industrial Corp. 1,067,000 1,862,756 0.0% * Walsin Lihwa Corp. 21,910,307 7,273,992 0.1% * Walsin Technology Corp. 3,520,551 1,217,671 0.0% Walton Advanced Engineering, Inc. 1,818,662 851,270 0.0% Wan Hai Lines, Ltd. 4,495,026 3,324,508 0.0% WAN HWA Enterprise Co. 468,734 228,129 0.0% # Waterland Financial Holdings Co., Ltd. 6,108,940 1,698,506 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- TAIWAN -- (Continued) #* Ways Technical Corp., Ltd. 460,000 $ 458,732 0.0% * WEI Chih Steel Industrial Co., Ltd. 383,000 54,140 0.0% # Wei Chuan Foods Corp. 1,883,000 1,569,831 0.0% #* Wei Mon Industry Co., Ltd. 2,067,674 471,034 0.0% # Weikeng Industrial Co., Ltd. 1,049,450 801,103 0.0% # Well Shin Technology Co., Ltd. 440,443 656,522 0.0% Wha Yu Industrial Co., Ltd. 59,000 23,447 0.0% # Win Semiconductors Corp. 3,926,000 3,542,160 0.0% * Winbond Electronics Corp. 19,099,000 6,127,790 0.1% * Wintek Corp. 12,401,135 790,948 0.0% # Wisdom Marine Lines Co., Ltd. 1,318,415 1,529,343 0.0% # Wistron Corp. 12,234,955 12,854,234 0.1% # Wistron NeWeb Corp. 1,308,859 2,951,170 0.0% # WPG Holdings, Ltd. 6,300,041 7,674,268 0.1% WT Microelectronics Co., Ltd. 2,076,177 3,315,441 0.0% # WUS Printed Circuit Co., Ltd. 1,855,000 850,054 0.0% # X-Legend Entertainment Co., Ltd. 109,375 548,028 0.0% # XAC Automation Corp. 611,000 1,042,702 0.0% Xxentria Technology Materials Corp. 552,736 1,418,995 0.0% # Yageo Corp. 2,806,270 4,361,705 0.1% * Yang Ming Marine Transport Corp. 9,510,157 4,353,541 0.1% # YC Co., Ltd. 2,523,122 1,336,385 0.0% # YC INOX Co., Ltd. 2,002,691 1,530,756 0.0% # YeaShin International Development Co., Ltd. 1,157,704 655,019 0.0% # Yeong Guan Energy Technology Group Co., Ltd. 241,313 971,419 0.0% YFY, Inc. 8,139,997 3,374,415 0.0% # Yi Jinn Industrial Co., Ltd. 1,355,440 351,794 0.0% # Yieh Phui Enterprise Co., Ltd. 6,421,324 1,901,535 0.0% # Yonyu Plastics Co., Ltd 412,050 423,453 0.0% #* Young Fast Optoelectronics Co., Ltd. 836,137 529,031 0.0% # Young Optics, Inc. 375,214 637,706 0.0% Youngtek Electronics Corp. 595,633 1,142,190 0.0% Yuanta Financial Holding Co., Ltd. 37,379,252 18,828,890 0.1% Yufo Electronics Co., Ltd. 108,000 66,813 0.0% Yulon Motor Co., Ltd. 4,748,715 7,005,907 0.1% Yung Chi Paint & Varnish Manufacturing Co., Ltd. 356,350 953,695 0.0% # Yungshin Construction & Development Co., Ltd. 295,000 609,371 0.0% # YungShin Global Holding Corp. 758,000 1,379,435 0.0% # Yungtay Engineering Co., Ltd. 2,170,000 4,818,759 0.1% # Zeng Hsing Industrial Co., Ltd. 348,974 1,756,625 0.0% # Zenitron Corp. 1,164,000 652,938 0.0% # Zhen Ding Technology Holding, Ltd. 1,710,150 4,698,640 0.1% Zig Sheng Industrial Co., Ltd. 2,833,638 783,141 0.0% # Zinwell Corp. 1,711,979 1,651,198 0.0% # Zippy Technology Corp. 565,028 637,718 0.0% # ZongTai Real Estate Development Co., Ltd. 691,276 412,859 0.0% ----------------- -------------- TOTAL TAIWAN 2,284,023,608 14.5% ----------------- -------------- THAILAND -- (3.1%) AAPICO Hitech PCL 751,080 355,131 0.0% Advanced Info Service PCL 2,320,709 17,029,458 0.1% Airports of Thailand PCL 1,357,500 10,086,429 0.1% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- THAILAND -- (Continued) * AJ Plast PCL 1,550,300 $ 490,270 0.0% Amarin Printing & Publishing PCL 46,970 16,584 0.0% Amata Corp. PCL 2,960,700 1,408,991 0.0% Ananda Development PCL 1,475,100 172,103 0.0% AP Thailand PCL 8,249,076 1,684,260 0.0% Asia Green Energy PCL 2,550,350 176,966 0.0% Asia Plus Securities PCL(B081WP3) 4,269,200 513,825 0.0% Asia Plus Securities PCL(B081Z10) 1,260,100 151,661 0.0% Asian Insulators PCL 1,710,100 530,304 0.0% Bangchak Petroleum PCL (The) 5,286,100 5,437,039 0.1% Bangkok Aviation Fuel Services PCL 1,221,554 1,359,574 0.0% Bangkok Bank PCL(6077019) 1,321,500 8,195,978 0.1% Bangkok Bank PCL(6368360) 1,415,100 8,602,696 0.1% Bangkok Chain Hospital PCL 6,492,050 1,943,429 0.0% Bangkok Dusit Medical Services PCL 16,747,000 9,512,419 0.1% Bangkok Expressway PCL 2,379,400 2,776,088 0.0% Bangkok Insurance PCL 16,040 180,739 0.0% Bangkok Land PCL 2,802,700 172,103 0.0% Bangkok Life Assurance PCL 2,329,040 4,129,630 0.0% * Bangkok Metro PCL 44,771,808 2,680,535 0.0% Bangkokland PCL 59,874,100 3,676,641 0.0% Banpu PCL 6,025,740 5,226,502 0.1% BEC World PCL 3,301,100 4,890,331 0.1% Berli Jucker PCL 2,511,500 3,508,543 0.0% Big C Supercenter PCL(6763932) 304,900 2,181,200 0.0% Big C Supercenter PCL(6368434) 846,500 6,055,711 0.1% Bumrungrad Hospital PCL 988,000 4,034,510 0.0% Cal-Comp Electronics Thailand PCL 11,187,592 1,037,351 0.0% Central Pattana PCL 4,269,700 6,325,239 0.1% Central Plaza Hotel PCL 2,874,500 3,331,666 0.0% CH Karnchang PCL 3,525,267 2,976,507 0.0% Charoen Pokphand Foods PCL 11,374,300 10,913,321 0.1% Charoong Thai Wire & Cable PCL 1,034,400 377,936 0.0% Christiani & Nielsen Thai 2,094,400 331,169 0.0% Country Group Securities PCL 4,415,811 225,061 0.0% CP ALL PCL 7,114,200 9,938,474 0.1% CS Loxinfo PCL 1,599,300 491,035 0.0% Delta Electronics Thailand PCL 2,342,000 4,637,980 0.0% Demco PCL 1,623,800 827,605 0.0% Dhipaya Insurance PCL 288,500 354,314 0.0% Diamond Building Products PCL 3,315,400 600,579 0.0% DSG International Thailand PCL 2,609,160 636,869 0.0% Dynasty Ceramic PCL 801,800 1,452,447 0.0% Eastern Water Resources Development and Management PCL 3,136,600 1,049,707 0.0% Electricity Generating PCL(6368553) 161,000 850,230 0.0% Electricity Generating PCL(6304643) 583,000 3,078,784 0.0% Energy Absolute PCL 2,036,600 1,513,224 0.0% Erawan Group PCL (The) 6,605,800 953,247 0.0% * Esso Thailand PCL 9,553,600 1,613,288 0.0% * G J Steel PCL 100,918,450 278,866 0.0% * G Steel PCL 22,734,200 139,602 0.0% GFPT PCL 3,497,222 2,072,348 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- THAILAND -- (Continued) Glow Energy PCL 2,009,900 $ 6,171,016 0.1% * GMM Grammy PCL 1,256,460 532,366 0.0% * Golden Land Property Development PCL(6375296) 767,700 210,958 0.0% * Golden Land Property Development PCL(6368586) 816,400 224,341 0.0% Grand Canal Land PCL 4,831,500 522,164 0.0% * Grande Asset Hotels & Property PCL 4,872,700 377,010 0.0% Gunkul Engineering PCL 1,433,900 1,083,019 0.0% Hana Microelectronics PCL 2,224,857 2,971,485 0.0% Hemaraj Land and Development PCL(6710046) 374,400 54,947 0.0% Hemaraj Land and Development PCL(6710165) 21,216,200 3,113,707 0.0% Home Product Center PCL 15,881,646 4,534,827 0.0% ICC International PCL 51,000 63,026 0.0% Indorama Ventures PCL 9,229,100 6,772,352 0.1% Intouch Holdings PCL 1,744,500 3,963,555 0.0% IRPC PCL 46,980,290 4,933,147 0.1% * Italian-Thai Development PCL 11,803,719 2,065,741 0.0% * ITV PCL 183,700 -- 0.0% Jasmine International PCL 15,442,000 3,532,174 0.0% Jay Mart PCL 1,456,075 612,472 0.0% Jubilee Enterprise PCL 89,200 111,603 0.0% Kang Yong Electric PCL 2,000 15,720 0.0% Kasikornbank PCL(6888794) 1,478,800 10,715,284 0.1% Kasikornbank PCL(6364766) 2,289,500 16,589,561 0.1% KCE Electronics PCL 1,397,882 1,716,773 0.0% KGI Securities Thailand PCL 5,950,300 606,540 0.0% Khon Kaen Sugar Industry PCL 3,998,600 1,596,002 0.0% Kiatnakin Bank PCL 2,571,007 3,335,126 0.0% Krung Thai Bank PCL 26,476,275 18,940,657 0.1% Krungthai Card PCL 115,200 244,053 0.0% Laguna Resorts & Hotels PCL 10,800 10,528 0.0% Lam Soon Thailand PCL 354,600 44,856 0.0% Land & Houses PCL(6581930) 3,326,700 1,041,828 0.0% Land & Houses PCL(6581941) 14,339,280 4,490,656 0.0% Lanna Resources PCL 1,433,750 572,267 0.0% LH Financial Group PCL 5,415,623 302,623 0.0% Loxley PCL 6,007,735 848,498 0.0% LPN Development PCL(B00Q643) 3,752,200 2,868,584 0.0% LPN Development PCL(B00PXK5) 301,300 230,346 0.0% Major Cineplex Group PCL 2,515,300 1,838,015 0.0% Maybank Kim Eng Securities Thailand PCL 244,400 171,088 0.0% MBK PCL 3,601,000 1,780,046 0.0% MCOT PCL 1,553,700 973,150 0.0% Minor International PCL 6,092,561 6,500,353 0.1% Modernform Group PCL 333,600 104,474 0.0% Muang Thai Insurance PCL 19,800 100,307 0.0% Muramoto Electron Thailand PCL 7,400 49,303 0.0% Nation Multimedia Group PCL 10,545,600 508,339 0.0% * Natural Park PCL 43,907,800 94,367 0.0% Nava Nakorn PCL 405,800 25,168 0.0% Noble Development PCL 56,100 17,913 0.0% Padaeng Industry PCL 192,800 98,857 0.0% * Polyplex Thailand PCL 2,265,800 813,935 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- THAILAND -- (Continued) Precious Shipping PCL 2,686,400 $ 1,756,841 0.0% Premier Marketing PCL 266,400 78,930 0.0% President Bakery PCL 1,800 2,487 0.0% * Property Perfect PCL 17,857,300 805,964 0.0% Pruksa Real Estate PCL 5,612,600 5,772,862 0.1% PTT Exploration & Production PCL 5,715,769 25,709,554 0.2% PTT Global Chemical PCL 6,530,911 12,432,192 0.1% PTT PCL 3,548,380 40,092,227 0.3% Quality Houses PCL 21,293,175 2,811,196 0.0% * Raimon Land PCL 14,104,100 952,687 0.0% Ratchaburi Electricity Generating Holding PCL(6294249) 1,283,900 2,394,748 0.0% Ratchaburi Electricity Generating Holding PCL(6362771) 737,200 1,375,035 0.0% * Regional Container Lines PCL 2,241,300 743,201 0.0% Robinson Department Store PCL 1,541,700 2,425,917 0.0% * Rojana Industrial Park PCL 3,591,000 843,450 0.0% RS PCL 3,776,600 997,199 0.0% Saha-Union PCL 630,900 808,722 0.0% * Sahaviriya Steel Industries PCL 57,283,780 597,989 0.0% Samart Corp. PCL 3,073,200 3,113,773 0.0% Samart I-Mobile PCL 13,831,400 1,528,801 0.0% Samart Telcoms PCL 1,798,500 1,214,830 0.0% Sansiri PCL 39,254,385 2,482,777 0.0% SC Asset Corp PCL 11,393,237 1,322,273 0.0% Siam Cement PCL (The)(6609906) 129,300 1,794,400 0.0% Siam Cement PCL (The)(6609928) 626,000 8,649,064 0.1% Siam City Cement PCL(6806387) 324,300 4,181,947 0.0% Siam City Cement PCL(6363194) 19,700 254,037 0.0% Siam Commercial Bank PCL (The) 3,359,869 18,310,616 0.1% Siam Future Development PCL 4,464,688 959,558 0.0% Siam Global House PCL 5,125,905 2,045,955 0.0% Siamgas & Petrochemicals PCL 2,441,200 944,400 0.0% Sino Thai Engineering & Construction PCL 4,567,371 3,681,102 0.0% SNC Former PCL 954,900 448,571 0.0% Somboon Advance Technology PCL 1,749,025 988,089 0.0% SPCG PCL 2,060,200 1,597,177 0.0% Sri Ayudhya Capital PCL 193,100 254,937 0.0% Sri Trang Agro-Industry PCL 5,949,900 2,667,134 0.0% Sriracha Construction PCL 644,700 697,749 0.0% Srithai Superware PCL 7,975,000 666,012 0.0% * Stars Microelectronics Thailand PCL 663,900 117,207 0.0% STP & I PCL 5,071,912 3,410,343 0.0% Supalai PCL 4,715,200 3,727,860 0.0% Susco PCL 2,397,300 312,083 0.0% SVI PCL 5,228,828 850,869 0.0% Symphony Communication PCL 538,700 294,408 0.0% * Tata Steel Thailand PCL 13,913,600 397,287 0.0% Thai Agro Energy PCL 279,230 39,437 0.0% * Thai Airways International PCL 7,863,337 3,452,432 0.0% Thai Carbon Black PCL 157,300 134,021 0.0% Thai Central Chemical PCL 233,100 207,550 0.0% Thai Metal Trade PCL 396,500 130,259 0.0% Thai Oil PCL 3,835,000 5,269,151 0.1% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- THAILAND -- (Continued) Thai Rayon PCL 20,400 $ 19,573 0.0% * Thai Reinsurance PCL 145,246 15,787 0.0% Thai Rung Union Car PCL 526,800 80,549 0.0% Thai Stanley Electric PCL(B01GKK6) 150,500 1,011,959 0.0% Thai Stanley Electric PCL(B01GKM8) 5,600 37,654 0.0% Thai Union Frozen Products PCL 2,109,590 4,825,436 0.1% Thai Vegetable Oil PCL 2,208,925 1,512,405 0.0% Thai-German Ceramic Industry PCL 2,362,200 246,591 0.0% Thaicom PCL 2,537,100 3,057,451 0.0% Thanachart Capital PCL 3,772,300 4,053,746 0.0% Thitikorn PCL 849,200 258,123 0.0% * Thoresen Thai Agencies PCL 3,773,000 2,525,373 0.0% Ticon Industrial Connection PCL 3,228,224 1,843,567 0.0% * Tipco Asphalt PCL 592,100 1,095,303 0.0% * TIPCO Foods PCL 1,182,000 250,408 0.0% Tisco Financial Group PCL(B3KFW10) 284,790 389,105 0.0% Tisco Financial Group PCL(B3KFW76) 2,134,800 2,916,752 0.0% TMB Bank PCL 84,195,113 7,961,957 0.1% Total Access Communication PCL(B1YWK08) 2,376,300 7,551,337 0.1% Total Access Communication PCL(B231MK7) 200,000 635,554 0.0% Toyo-Thai Corp. PCL(B5ML0B6) 756,468 679,358 0.0% Toyo-Thai Corp. PCL(B5ML0D8) 195,104 175,216 0.0% TPI Polene PCL 67,570,610 3,755,075 0.0% * True Corp. PCL 33,249,893 12,046,323 0.1% TTW PCL 8,588,300 3,190,618 0.0% Union Mosaic Industry PCL (The) 1,020,550 230,305 0.0% Unique Engineering & Construction PCL 3,960,100 1,276,667 0.0% Univanich Palm Oil PCL 477,000 147,918 0.0% Univentures PCL 3,618,600 1,111,022 0.0% Vanachai Group PCL 2,951,520 706,842 0.0% Vibhavadi Medical Center PCL 2,838,480 1,403,117 0.0% Vinythai PCL 2,320,500 755,213 0.0% * Workpoint Entertainment PCL 763,000 878,493 0.0% ----------------- -------------- TOTAL THAILAND 525,673,733 3.3% ----------------- -------------- TURKEY -- (2.0%) #* Adana Cimento Sanayii TAS Class A 408,542 952,037 0.0% # Adel Kalemcilik Ticaret ve Sanayi A.S. 29,129 663,705 0.0% #* Adese Alisveris Merkezleri Ticaret A.S. 238,992 884,160 0.0% Akbank TAS 6,121,964 22,106,067 0.2% Akcansa Cimento A.S. 316,015 2,032,690 0.0% #* Akenerji Elektrik Uretim A.S. 2,669,779 1,404,733 0.0% # Akfen Holding A.S. 604,903 1,292,568 0.0% Aksa Akrilik Kimya Sanayii A.S. 818,404 2,691,153 0.0% Aksigorta A.S. 858,752 1,039,257 0.0% # Alarko Holding A.S. 797,997 1,442,902 0.0% Albaraka Turk Katilim Bankasi A.S. 2,289,489 1,616,695 0.0% # Alkim Alkali Kimya A.S. 66,043 473,104 0.0% * Anadolu Anonim Turk Sigorta Sirketi 1,642,312 1,042,125 0.0% # Anadolu Cam Sanayii A.S. 952,027 813,562 0.0% * Anadolu Efes Biracilik Ve Malt Sanayii A.S. 689,135 8,052,920 0.1% # Anadolu Hayat Emeklilik A.S. 338,327 754,681 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- TURKEY -- (Continued) # Anadolu Isuzu Otomotiv Sanayi Ve Ticaret A.S. 65,250 $ 679,184 0.0% Arcelik A.S. 1,145,324 7,031,326 0.1% # Aselsan Elektronik Sanayi Ve Ticaret A.S. 378,829 1,720,700 0.0% #* Asya Katilim Bankasi A.S. 3,714,712 1,203,335 0.0% Aygaz A.S. 271,764 1,146,172 0.0% #* Bagfas Bandirma Gubre Fabrikalari A.S. 164,470 925,505 0.0% * Banvit Bandirma Vitaminli Yem Sanayii ASA 282,813 465,383 0.0% Baticim Bati Anadolu Cimento Sanayii A.S. 195,186 603,502 0.0% #* Besiktas Futbol Yatirimlari Sanayi ve Ticaret A.S. 550,859 654,654 0.0% BIM Birlesik Magazalar A.S. 581,298 13,279,325 0.1% # Bizim Toptan Satis Magazalari A.S. 143,339 1,173,115 0.0% * Bolu Cimento Sanayii A.S. 394,354 769,224 0.0% # Borusan Mannesmann Boru Sanayi ve Ticaret A.S. 532,667 1,717,185 0.0% #* Bosch Fren Sistemleri 584 32,820 0.0% #* Boyner Buyuk Magazacilik 173,861 341,995 0.0% * Boyner Perakende Ve Tekstil Yatirimlari AS 81,444 1,793,289 0.0% # Brisa Bridgestone Sabanci Sanayi ve Ticaret A.S. 419,196 1,711,998 0.0% Bursa Cimento Fabrikasi A.S. 125,366 322,691 0.0% * Celebi Hava Servisi A.S. 89,224 1,053,589 0.0% Cimsa Cimento Sanayi VE Ticaret A.S. 320,343 2,369,308 0.0% Coca-Cola Icecek A.S. 201,091 4,580,632 0.0% #* Deva Holding A.S. 533,530 491,980 0.0% #* Dogan Sirketler Grubu Holding A.S. 6,783,369 2,044,164 0.0% Dogus Otomotiv Servis ve Ticaret A.S. 513,379 2,203,744 0.0% #* Dyo Boya Fabrikalari Sanayi ve Ticaret A.S. 963,655 862,573 0.0% * Eczacibasi Yapi Gerecleri Sanayi ve Ticaret A.S. 150,885 293,425 0.0% # Eczacibasi Yatirim Holding Ortakligi A.S. 329,650 910,706 0.0% # EGE Endustri VE Ticaret A.S. 18,766 1,392,770 0.0% EGE Seramik Sanayi ve Ticaret A.S. 800,885 1,285,808 0.0% # EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret A.S. 1,588,556 1,679,428 0.0% Enka Insaat ve Sanayi A.S. 1,706,524 4,129,475 0.0% Eregli Demir ve Celik Fabrikalari TAS 9,345,749 19,478,805 0.1% #* Fenerbahce Futbol A.S. 62,726 978,477 0.0% * Ford Otomotiv Sanayi A.S. 315,001 4,023,457 0.0% #* Galatasaray Sportif Sinai ve Ticari Yatirimlar A.S. 66,447 594,986 0.0% Gentas Genel Metal Sanayi ve Ticaret A.S. 373,621 275,549 0.0% * Global Yatirim Holding A.S. 1,667,335 1,049,489 0.0% * Goldas Kuyumculuk Sanayi Ithalat ve Ihracat A.S. 61,429 -- 0.0% # Goltas Goller Bolgesi Cimento Sanayi ve Ticaret A.S. 55,701 1,484,796 0.0% # Goodyear Lastikleri TAS 42,180 1,796,526 0.0% #* Gozde Girisim Sermayesi Yatirim Ortakligi A.S. 1,062,316 1,304,500 0.0% #* GSD Holding 1,999,318 1,285,787 0.0% Gubre Fabrikalari TAS 1,171,274 2,217,049 0.0% * Gunes Sigorta 249,174 220,793 0.0% #* Hurriyet Gazetecilik A.S. 1,093,213 304,711 0.0% #* Ihlas Holding A.S. 7,195,890 971,044 0.0% #* Ihlas Madencilik A.S. 201,541 126,902 0.0% Indeks Bilgisayar Sistemleri Muhendislik Sanayi ve Ticaret A.S. 88,652 195,504 0.0% #* Ipek Dogal Enerji Kaynaklari Ve Uretim A.S. 753,290 579,203 0.0% Is Finansal Kiralama A.S. 777,766 322,279 0.0% Is Yatirim Menkul Degerler A.S. Class A 188,572 96,775 0.0% #* Izmir Demir Celik Sanayi A.S. 522,928 697,870 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- TURKEY -- (Continued) * Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. Class A 1,142,798 $ 1,464,578 0.0% #* Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. Class B 564,947 687,931 0.0% * Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. Class D 5,544,743 6,184,519 0.1% #* Karsan Otomotiv Sanayii Ve Ticaret A.S. 1,790,184 1,095,081 0.0% # Kartonsan Karton Sanayi ve Ticaret A.S. 8,686 876,826 0.0% #* Kerevitas Gida Sanayi ve Ticaret A.S. 6,569 103,794 0.0% KOC Holding A.S. 2,142,916 10,924,213 0.1% # Konya Cimento Sanayii A.S. 10,189 1,131,574 0.0% # Koza Altin Isletmeleri A.S. 219,173 1,412,667 0.0% * Koza Anadolu Metal Madencilik Isletmeleri A.S. 1,358,132 1,056,662 0.0% * Mardin Cimento Sanayii ve Ticaret A.S. 228,133 498,743 0.0% * Marshall Boya ve Vernik 36,322 590,596 0.0% #* Menderes Tekstil Sanayi ve Ticaret A.S. 187,627 93,689 0.0% #* Metro Ticari ve Mali Yatirimlar Holding A.S. 1,513,273 367,420 0.0% * Migros Ticaret A.S. 177,691 1,648,104 0.0% #* Mondi Tire Kutsan Kagit Ve Ambalaj Sanayii A.S. 192,675 97,025 0.0% #* NET Holding A.S. 1,080,794 1,400,491 0.0% #* Netas Telekomunikasyon A.S. 237,451 651,617 0.0% Nuh Cimento Sanayi A.S. 187,430 812,147 0.0% # Otokar Otomotiv Ve Savunma Sanayi A.S. 109,123 3,017,257 0.0% # Park Elektrik Uretim Madencilik Sanayi ve Ticaret A.S. 438,163 787,876 0.0% * Parsan Makina Parcalari 4,772 9,763 0.0% # Petkim Petrokimya Holding A.S. 4,249,998 6,767,948 0.1% Pinar Entegre Et ve Un Sanayi A.S. 84,385 346,599 0.0% Pinar SUT Mamulleri Sanayii A.S. 107,752 1,037,329 0.0% Sarkuysan Elektrolitik Bakir Sanayi ve Ticaret A.S. 202,914 289,093 0.0% * Sasa Polyester Sanayi A.S. 1,412,522 1,283,088 0.0% #* Sekerbank TAS 2,871,269 2,621,685 0.0% # Selcuk Ecza Deposu Ticaret ve Sanayi A.S. 996,327 946,301 0.0% Soda Sanayii A.S. 943,761 1,745,207 0.0% #* Tat Gida Sanayi A.S. 761,950 1,086,049 0.0% TAV Havalimanlari Holding A.S. 627,179 5,261,435 0.1% #* Tekfen Holding A.S. 1,337,463 3,362,994 0.0% # Teknosa Ic Ve Dis Ticaret A.S. 139,705 558,027 0.0% #* Tekstil Bankasi A.S. 1,044,262 859,313 0.0% Tofas Turk Otomobil Fabrikasi A.S. 603,827 3,788,584 0.0% # Trakya Cam Sanayi A.S. 3,249,348 4,267,579 0.0% Tupras Turkiye Petrol Rafinerileri A.S. 408,430 8,858,456 0.1% # Turcas Petrol A.S. 496,674 540,605 0.0% * Turk Hava Yollari 4,038,917 13,238,124 0.1% Turk Telekomunikasyon A.S. 1,124,605 3,230,444 0.0% # Turk Traktor ve Ziraat Makineleri A.S. 110,580 3,487,449 0.0% #* Turkcell Iletisim Hizmetleri A.S. 1,307,499 7,600,839 0.1% #* Turkcell Iletisim Hizmetleri A.S. ADR 293,927 4,300,152 0.0% Turkiye Garanti Bankasi A.S. 6,772,059 26,430,619 0.2% Turkiye Halk Bankasi A.S. 2,445,699 16,331,267 0.1% Turkiye Is Bankasi 5,365,823 13,416,718 0.1% # Turkiye Sinai Kalkinma Bankasi A.S. 6,449,040 5,658,338 0.1% Turkiye Sise ve Cam Fabrikalari A.S. 4,021,163 6,114,380 0.1% # Turkiye Vakiflar Bankasi Tao 4,199,622 9,025,642 0.1% Ulker Biskuvi Sanayi A.S. 626,894 4,621,111 0.1% Vestel Beyaz Esya Sanayi ve Ticaret A.S. 445,783 1,955,377 0.0% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- TURKEY -- (Continued) #* Vestel Elektronik Sanayi ve Ticaret A.S. 1,147,392 $ 3,794,335 0.0% # Yapi ve Kredi Bankasi A.S. 2,960,083 6,482,444 0.1% #* Zorlu Enerji Elektrik Uretim A.S. 1,723,229 2,049,597 0.0% ----------------- -------------- TOTAL TURKEY 350,405,567 2.2% ----------------- -------------- TOTAL COMMON STOCKS 15,071,088,421 95.9% ----------------- -------------- PREFERRED STOCKS -- (3.1%) BRAZIL -- (3.0%) AES Tiete SA 554,606 4,192,950 0.0% Alpargatas SA 570,460 1,999,076 0.0% Banco ABC Brasil SA 772,291 4,286,331 0.0% Banco Bradesco SA 2,851,473 42,951,675 0.3% # Banco Bradesco SA ADR 5,097,969 76,367,571 0.5% Banco Daycoval SA 181,994 662,095 0.0% Banco do Estado do Rio Grande do Sul SA Class B 1,077,174 6,435,069 0.1% * Banco Industrial e Comercial SA 306,755 775,359 0.0% * Banco Pan SA 1,370,328 1,592,960 0.0% Banco Pine SA 192,365 533,833 0.0% Banco Sofisa SA 68,200 68,885 0.0% Braskem SA Class A 185,000 1,353,672 0.0% Centrais Eletricas Brasileiras SA Class B 849,200 3,212,500 0.0% Centrais Eletricas de Santa Catarina SA 64,363 370,012 0.0% Cia Brasileira de Distribuicao 359,615 15,055,509 0.1% Cia de Gas de Sao Paulo COMGAS Class A 115,695 2,282,401 0.0% Cia de Saneamento do Parana 96,300 228,542 0.0% Cia de Transmissao de Energia Eletrica Paulista 247,093 3,833,593 0.0% Cia Energetica de Minas Gerais 2,512,758 14,426,081 0.1% Cia Energetica de Sao Paulo Class B 794,814 7,837,095 0.1% Cia Energetica do Ceara Class A 64,530 898,268 0.0% Cia Ferro Ligas da Bahia - Ferbasa 204,782 688,343 0.0% Cia Paranaense de Energia 211,160 2,950,124 0.0% Eletropaulo Metropolitana Eletricidade de Sao Paulo SA 694,086 1,938,901 0.0% Empresa Metropolitana de Aguas e Energia SA 6,100 9,377 0.0% Eucatex SA Industria e Comercio 87,459 153,767 0.0% * Forjas Taurus SA 400,223 61,268 0.0% Gerdau SA 706,915 3,166,238 0.0% * Gol Linhas Aereas Inteligentes SA 545,766 2,816,398 0.0% Itau Unibanco Holding SA 3,529,263 52,373,393 0.4% Itau Unibanco Holding SA ADR 6,110,461 90,190,404 0.6% Lojas Americanas SA 2,422,909 14,303,949 0.1% Marcopolo SA 2,270,518 3,886,048 0.0% Oi SA 4,607,229 2,421,554 0.0% Parana Banco SA 45,100 197,537 0.0% Petroleo Brasileiro SA 2,137,472 13,147,281 0.1% Petroleo Brasileiro SA Sponsored ADR 5,128,535 62,721,983 0.4% Randon Participacoes SA 1,464,695 3,687,282 0.0% Saraiva SA Livreiros Editores 167,864 939,229 0.0% Suzano Papel e Celulose SA Class A 1,931,399 8,161,321 0.1% Telefonica Brasil SA 225,198 4,603,091 0.0% Unipar Carbocloro SA Class B 1,538,997 309,553 0.0% * Usinas Siderurgicas de Minas Gerais SA Class A 2,502,158 5,753,349 0.1% EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- BRAZIL -- (Continued) Vale SA 2,210,768 $ 19,236,590 0.1% # Vale SA Sponsored ADR 4,036,193 35,357,051 0.2% ----------------- -------------- TOTAL BRAZIL 518,437,508 3.3% ----------------- -------------- CHILE -- (0.0%) Coca-Cola Embonor SA Class B 676 1,167 0.0% Embotelladora Andina SA 139,928 356,923 0.0% Embotelladora Andina SA Class B 212,801 669,021 0.0% Sociedad Quimica y Minera de Chile SA Class B 11,313 264,907 0.0% ----------------- -------------- TOTAL CHILE 1,292,018 0.0% ----------------- -------------- COLOMBIA -- (0.1%) Avianca Holdings SA 709,509 1,331,084 0.0% Banco Davivienda SA 460,847 6,876,308 0.1% Bancolombia SA 220,497 3,099,282 0.0% Grupo Aval Acciones y Valores 5,127,691 3,476,612 0.0% Grupo de Inversiones Suramericana SA 147,239 2,968,395 0.0% ----------------- -------------- TOTAL COLOMBIA 17,751,681 0.1% ----------------- -------------- TOTAL PREFERRED STOCKS 537,481,207 3.4% ----------------- -------------- RIGHTS/WARRANTS -- (0.0%) BRAZIL -- (0.0%) * Banco Pan SA Rights 11/19/14 73,554 594 0.0% * Prumo Logistica SA Rights 11/21/14 243,801 984 0.0% ----------------- -------------- TOTAL BRAZIL 1,578 0.0% ----------------- -------------- HONG KONG -- (0.0%) #* Agile Property Holdings, Ltd. Rights 11/11/14 970,941 65,104 0.0% * China Taiping Insurance Holdings Co., Ltd. Rights 11/18/14 780,066 477,788 0.0% #* HKC Holdings, Ltd. Warrants 10/15/15 3,950,442 19,866 0.0% * Tonly Electronics Holdings, Ltd. Rights 134,360 26,681 0.0% ----------------- -------------- TOTAL HONG KONG 589,439 0.0% ----------------- -------------- INDONESIA -- (0.0%) * Pabrik Kertas Tjiwi Kimia Tbk PT Warrants 07/11/17 250,733 4,004 0.0% ----------------- -------------- MALAYSIA -- (0.0%) * CB Industrial Product Holdings Bhd Warrants 12/31/15 481,287 -- 0.0% ----------------- -------------- POLAND -- (0.0%) * PZ Cormay SA Rights 66,507 4,672 0.0% ----------------- -------------- SOUTH KOREA -- (0.0%) * Shinil Industrial Co., Ltd. Rights 11/10/14 27,786 12,479 0.0% ----------------- -------------- TAIWAN -- (0.0%) * Neo Solar Power Corp. Rights 11/24/14 263,261 -- 0.0% * Silicon Power Computer & Communications, Inc. Rights 11/20/14 15,150 -- 0.0% * Tong-Tai Machine & Tool Co., Ltd. Rights 12/17/14 83,207 1,231 0.0% ----------------- -------------- TOTAL TAIWAN 1,231 0.0% ----------------- -------------- EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ----------------- ----------------- --------------- THAILAND -- (0.0%) * Indorama Ventures PCL Warrants 08/24/17 634,600 $ 68,974 0.0% * Indorama Ventures PCL Warrants 08/24/18 671,030 59,748 0.0% * Loxley PCL Warrants 09/30/17 45,433 3,459 0.0% * Minor International PCL Warrants 12/31/15 304,628 -- 0.0% * Unique Engineering & Construction PCL Rights 11/14/14 198,005 9,119 0.0% ----------------- -------------- TOTAL THAILAND 141,300 0.0% ----------------- -------------- TOTAL RIGHTS/WARRANTS 754,703 0.0% ----------------- -------------- VALUE+ ----------------- SECURITIES LENDING COLLATERAL -- (9.1%) (S)@ DFA Short Term Investment Fund 134,800,951 1,559,646,998 9.9% ----------------- -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $15,821,830,424) $ 17,168,971,329 109.2% ================= ============== EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2014, 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 $ 336,497,923 $ 729,626,410 -- $ 1,066,124,333 Chile 63,360,193 160,876,223 -- 224,236,416 China 256,973,549 2,156,744,561 -- 2,413,718,110 Colombia 77,013,599 -- -- 77,013,599 Czech Republic -- 38,214,099 -- 38,214,099 Egypt -- 11,209,468 -- 11,209,468 Greece 1,939,009 73,235,045 -- 75,174,054 Hong Kong -- 180,757 -- 180,757 Hungary 245,839 33,041,018 -- 33,286,857 India 154,248,766 1,343,566,995 -- 1,497,815,761 Indonesia 18,275,402 460,833,739 -- 479,109,141 Malaysia 2,543 729,417,158 -- 729,419,701 Mexico 865,718,529 99,063 -- 865,817,592 Peru 23,298,299 -- -- 23,298,299 Philippines 5,515,795 222,511,180 -- 228,026,975 Poland -- 307,892,448 -- 307,892,448 Russia 8,164,696 276,414,028 -- 284,578,724 South Africa 94,442,565 1,156,370,563 -- 1,250,813,128 South Korea 112,829,958 2,191,515,750 -- 2,304,345,708 Spain 710,343 -- -- 710,343 Taiwan 107,784,054 2,176,239,554 -- 2,284,023,608 Thailand 525,673,733 -- -- 525,673,733 Turkey 5,503,487 344,902,080 -- 350,405,567 Preferred Stocks Brazil 264,637,009 253,800,499 -- 518,437,508 Chile -- 1,292,018 -- 1,292,018 Colombia 17,751,681 -- -- 17,751,681 Rights/Warrants Brazil -- 1,578 -- 1,578 Hong Kong -- 589,439 -- 589,439 Indonesia -- 4,004 -- 4,004 Malaysia -- -- -- -- Poland -- 4,672 -- 4,672 South Korea -- 12,479 -- 12,479 Taiwan -- 1,231 -- 1,231 Thailand -- 141,300 -- 141,300 Securities Lending Collateral -- 1,559,646,998 -- 1,559,646,998 ---------------- ---------------- ---------------- ----------------- TOTAL $ 2,940,586,972 $ 14,228,384,357 -- $ 17,168,971,329 ================ ================ ================ ================= THE U.S. LARGE CAP VALUE SERIES SCHEDULE OF INVESTMENTS OCTOBER 31, 2014 PERCENTAGE SHARES VALUE+ OF NET ASSETS** --------- -------------- --------------- COMMON STOCKS -- (95.1%) Consumer Discretionary -- (11.7%) # Autoliv, Inc. 12,172 $ 1,116,659 0.0% Best Buy Co., Inc. 32,996 1,126,483 0.0% # Carnival Corp. 1,921,887 77,163,763 0.4% CBS Corp. Class A 7,236 392,842 0.0% Comcast Corp. Class A 9,873,756 546,512,395 3.0% # Comcast Corp. Special Class A 3,813,064 210,252,349 1.1% # Dillard's, Inc. Class A 112,692 11,918,306 0.1% DR Horton, Inc. 380,359 8,668,382 0.1% # Ford Motor Co. 2,413,503 34,006,257 0.2% # GameStop Corp. Class A 598,147 25,576,766 0.1% Gannett Co., Inc. 17,041 536,791 0.0% General Motors Co. 3,814,989 119,790,655 0.7% Graham Holdings Co. Class B 32,261 25,279,720 0.1% #* Hyatt Hotels Corp. Class A 26,622 1,576,555 0.0% # Kohl's Corp. 743,109 40,291,370 0.2% #* Lands' End, Inc. 108,496 5,150,305 0.0% Lear Corp. 57,952 5,360,560 0.0% # Lennar Corp. Class A 211,619 9,116,547 0.1% Lennar Corp. Class B 4,312 151,394 0.0% #* Liberty Global P.L.C. Class C 5,034 223,862 0.0% * Liberty Interactive Corp. Class A 2,576,808 67,357,761 0.4% * Liberty Media Corp. 313,578 15,029,794 0.1% * Liberty Media Corp. Class A 156,789 7,529,008 0.0% * Liberty TripAdvisor Holdings, Inc. Class A 174,559 5,512,573 0.0% * Liberty Ventures Series A 571,622 20,063,932 0.1% #* MGM Resorts International 2,414,853 56,145,332 0.3% * Mohawk Industries, Inc. 286,453 40,687,784 0.2% #* News Corp. Class A 290,667 4,499,525 0.0% #* News Corp. Class B 31,823 478,936 0.0% PVH Corp. 69,823 7,984,260 0.0% Royal Caribbean Cruises, Ltd. 1,051,952 71,501,177 0.4% #* Sears Holdings Corp. 267,418 9,338,237 0.1% Service Corp. International 229,074 5,009,848 0.0% # Staples, Inc. 1,603,602 20,333,673 0.1% # Target Corp. 1,106,428 68,399,379 0.4% Time Warner Cable, Inc. 1,876,119 276,183,478 1.5% # Time Warner, Inc. 5,052,904 401,554,281 2.2% * Time, Inc. 527,858 11,924,312 0.1% #* Toll Brothers, Inc. 329,804 10,537,238 0.1% * TRW Automotive Holdings Corp. 459 46,520 0.0% # Whirlpool Corp. 123,680 21,279,144 0.1% -------------- ---- Total Consumer Discretionary 2,245,608,153 12.2% -------------- ---- Consumer Staples -- (6.4%) Archer-Daniels-Midland Co. 2,861,952 134,511,744 0.7% Bunge, Ltd. 553,069 49,029,567 0.3% # ConAgra Foods, Inc. 364,170 12,509,239 0.1% * Constellation Brands, Inc. Class A 462,850 42,369,289 0.2% CVS Health Corp. 6,986,047 599,472,693 3.3% Ingredion, Inc. 20,328 1,570,338 0.0% THE U.S. LARGE CAP VALUE SERIES CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** --------- -------------- --------------- Consumer Staples -- (Continued) JM Smucker Co. (The) 540,650 $ 56,227,600 0.3% # Molson Coors Brewing Co. Class B 763,563 56,793,816 0.3% Mondelez International, Inc. Class A 6,213,977 219,104,829 1.2% # Safeway, Inc. 196,076 6,835,209 0.0% Tyson Foods, Inc. Class A 1,430,128 57,705,665 0.3% -------------- ---- Total Consumer Staples 1,236,129,989 6.7% -------------- ---- Energy -- (19.8%) Anadarko Petroleum Corp. 2,644,697 242,730,291 1.3% Apache Corp. 1,895,772 146,353,598 0.8% Baker Hughes, Inc. 1,938,026 102,637,857 0.6% # Chesapeake Energy Corp. 3,374,987 74,857,212 0.4% Chevron Corp. 5,620,609 674,192,050 3.7% Cimarex Energy Co. 155,458 17,670,911 0.1% ConocoPhillips 6,993,622 504,589,827 2.7% # Denbury Resources, Inc. 1,413,859 17,531,852 0.1% Devon Energy Corp. 1,721,246 103,274,760 0.6% Exxon Mobil Corp. 4,477,321 433,001,714 2.4% # Helmerich & Payne, Inc. 516,470 44,839,925 0.2% Hess Corp. 1,628,606 138,122,075 0.7% HollyFrontier Corp. 498,931 22,641,489 0.1% # Kinder Morgan, Inc. 76,885 2,975,449 0.0% Marathon Oil Corp. 3,640,872 128,886,869 0.7% Marathon Petroleum Corp. 1,752,484 159,300,796 0.9% # Murphy Oil Corp. 728,510 38,895,149 0.2% Nabors Industries, Ltd. 1,372,075 24,491,539 0.1% National Oilwell Varco, Inc. 1,968,548 142,995,327 0.8% * Newfield Exploration Co. 31,609 1,030,769 0.0% # Noble Corp. P.L.C. 721,779 15,099,617 0.1% Occidental Petroleum Corp. 2,823,071 251,055,704 1.4% #* Paragon Offshore P.L.C. 240,593 1,171,688 0.0% Patterson-UTI Energy, Inc. 732,485 16,869,130 0.1% # Peabody Energy Corp. 226,438 2,361,748 0.0% Phillips 66 2,603,498 204,374,593 1.1% QEP Resources, Inc. 458,418 11,492,539 0.1% # Rowan Cos. P.L.C. Class A 424,149 10,294,096 0.1% * Seventy Seven Energy, Inc. 111,218 1,453,619 0.0% Superior Energy Services, Inc. 99,669 2,506,675 0.0% # Tesoro Corp. 615,285 43,937,502 0.2% # Transocean, Ltd. 1,340,027 39,973,005 0.2% Valero Energy Corp. 2,806,975 140,601,378 0.8% * Weatherford International P.L.C. 2,173,272 35,685,126 0.2% * Whiting Petroleum Corp. 334,068 20,458,324 0.1% #* WPX Energy, Inc. 50,407 963,782 0.0% -------------- ---- Total Energy 3,819,317,985 20.8% -------------- ---- Financials -- (19.7%) ACE, Ltd. 96,962 10,597,947 0.1% Aflac, Inc. 607,834 36,305,925 0.2% * Alleghany Corp. 1,128 501,148 0.0% Allied World Assurance Co. Holdings AG 556,302 21,139,476 0.1% Allstate Corp. (The) 817,246 52,998,403 0.3% THE U.S. LARGE CAP VALUE SERIES CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** ---------- ------------ --------------- Financials -- (Continued) American Financial Group, Inc. 487,279 $ 29,153,903 0.2% American International Group, Inc. 3,145,850 168,523,184 0.9% American National Insurance Co. 69,753 7,957,422 0.0% # Assurant, Inc. 386,198 26,346,428 0.1% Assured Guaranty, Ltd. 88,010 2,031,271 0.0% Axis Capital Holdings, Ltd. 578,662 27,856,789 0.2% Bank of America Corp. 16,826,224 288,738,004 1.6% Bank of New York Mellon Corp. (The) 3,470,782 134,388,679 0.7% BB&T Corp. 470,569 17,825,154 0.1% Capital One Financial Corp. 2,096,624 173,537,568 0.9% # Chubb Corp. (The) 69,688 6,924,200 0.0% # Cincinnati Financial Corp. 16,670 841,335 0.0% CIT Group, Inc. 25,124 1,229,317 0.0% Citigroup, Inc. 5,327,316 285,171,225 1.6% CME Group, Inc. 1,222,099 102,424,117 0.6% CNA Financial Corp. 498,971 19,499,787 0.1% * E*TRADE Financial Corp. 114,229 2,547,307 0.0% # Everest Re Group, Ltd. 158,526 27,052,462 0.1% Fifth Third Bancorp 1,806,309 36,108,117 0.2% #* Genworth Financial, Inc. Class A 2,374,310 33,216,597 0.2% Goldman Sachs Group, Inc. (The) 919,421 174,680,796 1.0% Hartford Financial Services Group, Inc. (The) 2,395,708 94,822,123 0.5% HCC Insurance Holdings, Inc. 2,282 119,098 0.0% Hudson City Bancorp, Inc. 71,664 691,558 0.0% Huntington Bancshares, Inc. 435,741 4,318,193 0.0% JPMorgan Chase & Co. 10,466,709 633,026,560 3.4% KeyCorp 374,205 4,939,506 0.0% # Legg Mason, Inc. 641,854 33,376,408 0.2% Leucadia National Corp. 137,025 3,258,454 0.0% Lincoln National Corp. 1,394,130 76,342,559 0.4% Loews Corp. 2,012,598 87,749,273 0.5% # M&T Bank Corp. 9,877 1,206,772 0.0% MetLife, Inc. 2,280,037 123,669,207 0.7% Morgan Stanley 5,045,057 176,324,742 1.0% NASDAQ OMX Group, Inc. (The) 801,702 34,681,628 0.2% # New York Community Bancorp, Inc. 80,866 1,289,813 0.0% # Old Republic International Corp. 632,434 9,341,050 0.1% PartnerRe, Ltd. 193,939 22,436,803 0.1% # People's United Financial, Inc. 138,880 2,030,426 0.0% PNC Financial Services Group, Inc. (The) 792,924 68,500,704 0.4% # Principal Financial Group, Inc. 356,794 18,685,302 0.1% Protective Life Corp. 7,158 498,769 0.0% Prudential Financial, Inc. 1,229,198 108,833,191 0.6% Regions Financial Corp. 5,807,266 57,666,151 0.3% # Reinsurance Group of America, Inc. 357,106 30,086,180 0.2% State Street Corp. 83,962 6,335,772 0.0% # SunTrust Banks, Inc. 2,175,267 85,139,950 0.5% Travelers Cos., Inc. (The) 867,444 87,438,355 0.5% # Unum Group 1,374,339 45,985,383 0.2% Validus Holdings, Ltd. 167,263 6,653,722 0.0% Wells Fargo & Co. 4,057,795 215,428,337 1.2% XL Group P.L.C. 1,434,888 48,614,005 0.3% THE U.S. LARGE CAP VALUE SERIES CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** ---------- -------------- --------------- Financials -- (Continued) # Zions Bancorporation 754,482 $ 21,857,344 0.1% -------------- ---- Total Financials 3,798,943,899 20.7% -------------- ---- Health Care -- (10.1%) #* Actavis P.L.C. 118,573 28,782,410 0.2% Aetna, Inc. 2,009,110 165,771,666 0.9% * Bio-Rad Laboratories, Inc. Class A 1,222 137,866 0.0% * Boston Scientific Corp. 6,573,232 87,292,521 0.5% * CareFusion Corp. 907,569 52,067,233 0.3% # Cigna Corp. 268,109 26,695,613 0.1% #* Community Health Systems, Inc. 14,053 772,493 0.0% * Express Scripts Holding Co. 3,072,578 236,035,442 1.3% #* Hologic, Inc. 1,211,606 31,731,961 0.2% Humana, Inc. 707,042 98,172,782 0.5% # Omnicare, Inc. 556,064 37,028,302 0.2% Perrigo Co. P.L.C. 13,380 2,160,201 0.0% Pfizer, Inc. 22,619,948 677,467,443 3.7% # Quest Diagnostics, Inc. 107,295 6,808,941 0.0% # Teleflex, Inc. 91,713 10,466,288 0.1% Thermo Fisher Scientific, Inc. 1,580,260 185,791,168 1.0% UnitedHealth Group, Inc. 912,609 86,706,981 0.5% WellPoint, Inc. 1,674,297 212,116,687 1.1% -------------- ---- Total Health Care 1,946,005,998 10.6% -------------- ---- Industrials -- (11.5%) # ADT Corp. (The) 686,732 24,612,475 0.1% #* AECOM Technology Corp. 124,083 4,038,889 0.0% # AGCO Corp. 279,803 12,398,071 0.1% Alaska Air Group, Inc. 5,580 297,023 0.0% #* Avis Budget Group, Inc. 100,291 5,591,223 0.0% CSX Corp. 5,604,703 199,695,568 1.1% Danaher Corp. 72,391 5,820,236 0.0% Delta Air Lines, Inc. 101,580 4,086,563 0.0% Eaton Corp. P.L.C. 1,690,402 115,606,593 0.6% #* Engility Holdings, Inc. 27,829 1,202,213 0.0% FedEx Corp. 828,737 138,730,574 0.8% General Electric Co. 21,597,811 557,439,502 3.0% #* Genesee & Wyoming, Inc. Class A 11,922 1,146,896 0.0% * Hertz Global Holdings, Inc. 1,345,507 29,493,514 0.2% #* Jacobs Engineering Group, Inc. 175,921 8,347,452 0.1% # Joy Global, Inc. 84,284 4,435,867 0.0% # KBR, Inc. 18,047 344,337 0.0% # Kennametal, Inc. 9,984 385,482 0.0% L-3 Communications Holdings, Inc. 421,205 51,159,559 0.3% Manpowergroup, Inc. 19,031 1,270,319 0.0% # Norfolk Southern Corp. 1,681,939 186,089,731 1.0% Northrop Grumman Corp. 1,364,645 188,266,424 1.0% #* NOW, Inc. 352,619 10,599,727 0.1% # Oshkosh Corp. 36,950 1,653,882 0.0% Owens Corning 579,048 18,564,279 0.1% Pentair P.L.C. 498,599 33,431,063 0.2% * Quanta Services, Inc. 554,686 18,903,699 0.1% THE U.S. LARGE CAP VALUE SERIES CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** --------- -------------- --------------- Industrials -- (Continued) # Regal-Beloit Corp. 4,814 $ 341,650 0.0% Republic Services, Inc. 1,352,613 51,940,339 0.3% # Ryder System, Inc. 13,740 1,215,578 0.0% Southwest Airlines Co. 3,905,821 134,672,708 0.7% SPX Corp. 22,870 2,167,847 0.0% Stanley Black & Decker, Inc. 651,388 60,995,972 0.3% # Terex Corp. 8,155 234,619 0.0% # Trinity Industries, Inc. 125,128 4,468,321 0.0% # Triumph Group, Inc. 29,704 2,068,290 0.0% Union Pacific Corp. 2,788,102 324,674,478 1.8% #* United Rentals, Inc. 73,167 8,052,760 0.1% * Veritiv Corp. 35,483 1,600,638 0.0% #* WESCO International, Inc. 21,907 1,805,356 0.0% -------------- ---- Total Industrials 2,217,849,717 12.0% -------------- ---- Information Technology -- (8.2%) Activision Blizzard, Inc. 2,772,955 55,320,452 0.3% Amdocs, Ltd. 17,878 849,920 0.0% * Arrow Electronics, Inc. 568,882 32,346,631 0.2% # Avnet, Inc. 711,362 30,766,407 0.2% #* Blackhawk Network Holdings, Inc. Class B 16,109 538,041 0.0% Broadcom Corp. Class A 136,077 5,698,905 0.0% Brocade Communications Systems, Inc. 46,592 499,932 0.0% # CA, Inc. 490,851 14,264,130 0.1% Cisco Systems, Inc. 8,906,456 217,940,978 1.2% Computer Sciences Corp. 99,392 6,003,277 0.0% Corning, Inc. 4,933,995 100,801,518 0.5% Fidelity National Information Services, Inc. 1,308,765 76,418,788 0.4% #* First Solar, Inc. 154,302 9,088,388 0.1% Hewlett-Packard Co. 9,619,949 345,163,770 1.9% * Ingram Micro, Inc. Class A 725,997 19,485,759 0.1% # Intel Corp. 9,210,936 313,263,933 1.7% # Jabil Circuit, Inc. 24,010 503,010 0.0% Juniper Networks, Inc. 922,663 19,440,509 0.1% Lam Research Corp. 325,184 25,318,826 0.1% Marvell Technology Group, Ltd. 398,733 5,358,972 0.0% #* Micron Technology, Inc. 3,654,213 120,917,908 0.7% # NVIDIA Corp. 629,521 12,300,840 0.1% Western Digital Corp. 564,843 55,563,606 0.3% Xerox Corp. 5,691,007 75,576,573 0.4% #* Yahoo!, Inc. 877,399 40,404,224 0.2% -------------- ---- Total Information Technology 1,583,835,297 8.6% -------------- ---- Materials -- (3.2%) Alcoa, Inc. 5,361,598 89,860,383 0.5% Ashland, Inc. 388,650 42,001,406 0.2% Cabot Corp. 454 21,079 0.0% CF Industries Holdings, Inc. 51,450 13,377,000 0.1% Freeport-McMoRan, Inc. 4,647,012 132,439,842 0.7% # Huntsman Corp. 6,739 164,432 0.0% International Paper Co. 2,043,676 103,450,879 0.6% MeadWestvaco Corp. 841,379 37,163,711 0.2% THE U.S. LARGE CAP VALUE SERIES CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** ---------- --------------- --------------- Materials -- (Continued) Mosaic Co. (The) 540,449 $ 23,947,295 0.1% # Newmont Mining Corp. 1,384,540 25,973,970 0.2% # Nucor Corp. 778,823 42,103,171 0.2% # Reliance Steel & Aluminum Co. 359,269 24,243,472 0.1% Rock-Tenn Co. Class A 235,996 12,071,195 0.1% Steel Dynamics, Inc. 893,527 20,560,056 0.1% # United States Steel Corp. 89,096 3,567,404 0.0% # Vulcan Materials Co. 576,239 35,559,709 0.2% --------------- ----- Total Materials 606,505,004 3.3% --------------- ----- Telecommunication Services -- (4.2%) # AT&T, Inc. 18,488,608 644,143,103 3.5% CenturyLink, Inc. 2,353,137 97,608,123 0.5% # Frontier Communications Corp. 2,036,486 13,318,618 0.1% #* Sprint Corp. 2,491,629 14,775,360 0.1% * T-Mobile US, Inc. 726,568 21,208,520 0.1% Telephone & Data Systems, Inc. 29,439 754,816 0.0% #* United States Cellular Corp. 254,750 9,277,995 0.1% Windstream Holdings, Inc. 406,973 4,265,077 0.0% --------------- ----- Total Telecommunication Services 805,351,612 4.4% --------------- ----- Utilities -- (0.3%) # NRG Energy, Inc. 1,581,268 47,406,415 0.3% UGI Corp. 130,606 4,922,540 0.0% --------------- ----- Total Utilities 52,328,955 0.3% --------------- ----- TOTAL COMMON STOCKS 18,311,876,609 99.6% --------------- ----- RIGHTS/WARRANTS -- (0.0%) (degrees)#* Sears Holdings Corp. Rights 11/07/14 313,663 7,528 0.0% --------------- ----- TEMPORARY CASH INVESTMENTS -- (0.5%) State Street Institutional Liquid Reserves, 0.077% 87,103,094 87,103,094 0.5% --------------- ----- SECURITIES LENDING COLLATERAL -- (4.4%) (S)@ DFA Short Term Investment Fund 74,271,257 859,318,447 4.7% --------------- ----- TOTAL INVESTMENTS -- (100.0%) (Cost $12,592,557,040) $19,258,305,678 104.8% =============== ===== THE U.S. LARGE CAP VALUE SERIES CONTINUED Summary of the Series' investments as of October 31, 2014, 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 $ 2,245,608,153 -- -- $ 2,245,608,153 Consumer Staples 1,236,129,989 -- -- 1,236,129,989 Energy 3,819,317,985 -- -- 3,819,317,985 Financials 3,798,943,899 -- -- 3,798,943,899 Health Care 1,946,005,998 -- -- 1,946,005,998 Industrials 2,217,849,717 -- -- 2,217,849,717 Information Technology 1,583,835,297 -- -- 1,583,835,297 Materials 606,505,004 -- -- 606,505,004 Telecommunication Services 805,351,612 -- -- 805,351,612 Utilities 52,328,955 -- -- 52,328,955 Rights/Warrants -- $ 7,528 -- 7,528 Temporary Cash Investments 87,103,094 -- -- 87,103,094 Securities Lending Collateral -- 859,318,447 -- 859,318,447 ---------------- ------------ -- --------------- TOTAL $18,398,979,703 $859,325,975 -- $19,258,305,678 ================ ============ == =============== THE DFA INTERNATIONAL VALUE SERIES SCHEDULE OF INVESTMENTS OCTOBER 31, 2014 PERCENTAGE SHARES VALUE++ OF NET ASSETS** --------- ------------ --------------- COMMON STOCKS -- (94.3%) AUSTRALIA -- (5.8%) * Alumina, Ltd. 4,595,906 $ 6,642,419 0.1% * Alumina, Ltd. Sponsored ADR 172,484 981,434 0.0% AMP, Ltd. 510,725 2,633,820 0.0% Asciano, Ltd. 4,216,676 23,324,367 0.3% ASX, Ltd. 5,871 186,271 0.0% Bank of Queensland, Ltd. 847,855 9,425,419 0.1% # Bendigo & Adelaide Bank Ltd 862,954 9,476,888 0.1% * BlueScope Steel, Ltd. 855,334 3,987,534 0.0% Boral, Ltd. 2,121,437 9,317,703 0.1% Caltex Australia, Ltd. 18,966 522,384 0.0% Downer EDI, Ltd. 47,617 201,079 0.0% Echo Entertainment Group, Ltd. 1,832,302 6,152,312 0.1% # Fortescue Metals Group, Ltd. 2,888,182 8,913,905 0.1% GrainCorp, Ltd. Class A 290,677 2,248,243 0.0% # Harvey Norman Holdings, Ltd. 1,068,950 3,594,639 0.0% # Incitec Pivot, Ltd. 4,638,959 11,904,005 0.1% Leighton Holdings, Ltd. 60,472 1,177,321 0.0% # Lend Lease Group 1,076,283 15,010,939 0.2% Macquarie Group, Ltd. 1,184,395 64,009,420 0.7% # Metcash, Ltd. 599,500 1,497,294 0.0% National Australia Bank, Ltd. 1,748,681 54,096,766 0.6% # New Hope Corp., Ltd. 69,375 137,301 0.0% * Newcrest Mining, Ltd. 1,968,868 16,147,863 0.2% # Orica, Ltd. 187,134 3,415,988 0.0% Origin Energy, Ltd. 2,407,598 30,245,978 0.3% Primary Health Care, Ltd. 718,682 2,945,183 0.0% * Qantas Airways, Ltd. 3,475,112 5,192,206 0.1% # QBE Insurance Group, Ltd. 2,266,393 23,021,800 0.3% Rio Tinto, Ltd. 120,548 6,437,059 0.1% Santos, Ltd. 4,404,343 50,470,467 0.5% Seven Group Holdings, Ltd. 361,999 2,183,768 0.0% # Sims Metal Management, Ltd. 209,772 2,094,229 0.0% # Sims Metal Management, Ltd. Sponsored ADR 124,013 1,213,715 0.0% Suncorp Group, Ltd. 3,736,013 48,613,845 0.5% Tabcorp Holdings, Ltd. 2,121,674 7,621,409 0.1% Tatts Group, Ltd. 4,209,170 12,884,632 0.1% # Toll Holdings, Ltd. 2,149,986 10,771,881 0.1% Treasury Wine Estates, Ltd. 1,372,955 5,605,719 0.1% Washington H Soul Pattinson & Co., Ltd. 87,756 1,098,605 0.0% # Wesfarmers, Ltd. 2,317,545 90,193,505 1.0% Woodside Petroleum, Ltd. 488,777 17,361,526 0.2% WorleyParsons, Ltd. 68,312 815,355 0.0% ------------ --- TOTAL AUSTRALIA 573,776,196 6.1% ------------ --- AUSTRIA -- (0.1%) Erste Group Bank AG 372,952 9,516,812 0.1% OMV AG 93,780 2,947,790 0.1% Raiffeisen Bank International AG 57,158 1,223,857 0.0% ------------ --- TOTAL AUSTRIA 13,688,459 0.2% ------------ --- THE DFA INTERNATIONAL VALUE SERIES CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** --------- ------------ --------------- BELGIUM -- (1.2%) Ageas 594,176 $ 19,862,064 0.2% Belgacom SA 93,033 3,513,720 0.0% Colruyt SA 1,956 89,086 0.0% Delhaize Group SA 244,289 16,703,226 0.2% Delhaize Group SA Sponsored ADR 211,600 3,605,664 0.0% * KBC Groep NV 392,347 21,075,210 0.2% Solvay SA 198,220 27,060,931 0.3% UCB SA 213,849 17,246,126 0.2% Umicore SA 162,718 6,386,433 0.1% ------------ --- TOTAL BELGIUM 115,542,460 1.2% ------------ --- CANADA -- (7.8%) # Agrium, Inc. 260,162 25,449,047 0.3% Bank of Montreal 220,863 16,034,654 0.2% Barrick Gold Corp. 2,483,599 29,480,320 0.3% BCE, Inc. 21,199 941,405 0.0% #* BlackBerry, Ltd.(09228F103) 477,288 5,011,524 0.1% #* BlackBerry, Ltd.(BCBHZ31) 435,600 4,576,109 0.1% # Bonavista Energy Corp. 27,416 257,607 0.0% Cameco Corp.(13321L108) 122,025 2,120,794 0.0% Cameco Corp.(2166160) 506,586 8,796,316 0.1% Canadian Natural Resources, Ltd.(136385101) 838,864 29,259,576 0.3% Canadian Natural Resources, Ltd.(2171573) 1,849,320 64,534,631 0.7% # Canadian Tire Corp., Ltd. Class A 285,569 31,309,845 0.3% * Catamaran Corp. 90,547 4,316,375 0.1% Crescent Point Energy Corp.(22576C101) 77,459 2,558,471 0.0% # Crescent Point Energy Corp.(B67C8W8) 362,930 11,995,158 0.1% Eldorado Gold Corp.(2307873) 452,522 2,473,302 0.0% Eldorado Gold Corp.(284902103) 109,318 599,063 0.0% Empire Co., Ltd. 66,400 4,593,592 0.1% # Enerplus Corp. 291,127 4,169,105 0.0% Ensign Energy Services, Inc. 452,198 5,103,552 0.1% Fairfax Financial Holdings, Ltd. 49,494 22,612,968 0.2% First Quantum Minerals, Ltd. 1,617,664 24,400,235 0.3% # Genworth MI Canada, Inc. 87,561 3,061,003 0.0% George Weston, Ltd. 76,513 6,251,113 0.1% Goldcorp, Inc.(380956409) 3,218 60,434 0.0% Goldcorp, Inc.(2676302) 668,943 12,553,254 0.1% # Husky Energy, Inc. 846,066 20,426,295 0.2% # Industrial Alliance Insurance & Financial Services, Inc. 185,105 7,459,713 0.1% * Kinross Gold Corp. 3,868,295 8,271,675 0.1% # Loblaw Cos., Ltd. 40,951 2,133,572 0.0% * Lundin Mining Corp. 737,610 3,291,938 0.0% Magna International, Inc. 284,118 28,042,488 0.3% # Manulife Financial Corp.(2492519) 3,287,435 62,391,406 0.7% Manulife Financial Corp.(56501R106) 94,096 1,785,001 0.0% * MEG Energy Corp. 78,947 1,905,291 0.0% * Osisko Gold Royalties, Ltd. 600 7,496 0.0% # Pacific Rubiales Energy Corp. 839,834 12,667,741 0.1% # Pan American Silver Corp.(697900108) 9,475 87,454 0.0% Pan American Silver Corp.(2669272) 112,402 1,039,199 0.0% # Pengrowth Energy Corp. 745,097 3,008,022 0.0% THE DFA INTERNATIONAL VALUE SERIES CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** --------- ------------ --------------- CANADA -- (Continued) # Penn West Petroleum, Ltd. 1,034,275 $ 4,680,185 0.1% Precision Drilling Corp.(B5YPLH9) 793,285 6,609,242 0.1% Precision Drilling Corp.(74022D308) 14,251 118,568 0.0% # Sun Life Financial, Inc. 1,292,577 45,977,917 0.5% Suncor Energy, Inc.(B3NB1P2) 3,750,370 133,170,496 1.4% Suncor Energy, Inc.(867224107) 57,124 2,030,187 0.0% Talisman Energy, Inc.(2068299) 3,783,418 24,136,263 0.3% Talisman Energy, Inc.(87425E103) 118,049 753,153 0.0% Teck Resources, Ltd. Class A 4,115 71,562 0.0% # Teck Resources, Ltd. Class B 1,123,435 17,752,875 0.2% # Thomson Reuters Corp. 1,057,948 39,359,176 0.4% # TransAlta Corp. 635,181 6,176,819 0.1% * Turquoise Hill Resources, Ltd.(900435108) 127,382 426,730 0.0% * Turquoise Hill Resources, Ltd.(B7WJ1F5) 291,314 977,035 0.0% West Fraser Timber Co., Ltd. 50,666 2,658,161 0.0% Westjet Airlines, Ltd. 1,000 28,295 0.0% # Whitecap Resources, Inc. 37,683 487,818 0.0% # Yamana Gold, Inc. 1,426,728 5,683,874 0.1% ------------ --- TOTAL CANADA 766,135,100 8.2% ------------ --- CHINA -- (0.0%) Hopewell Highway Infrastructure, Ltd. 62,208 30,085 0.0% ------------ --- DENMARK -- (1.4%) AP Moeller--Maersk A.S. Class A 4,596 10,455,684 0.1% AP Moeller--Maersk A.S. Class B 19,275 44,979,680 0.5% Carlsberg A.S. Class B 334,440 29,497,142 0.3% Danske Bank A.S. 714,081 19,608,868 0.2% FLSmidth & Co. A.S. 1,057 47,924 0.0% H Lundbeck A.S. 135,698 2,877,525 0.0% * Jyske Bank A.S. 24,202 1,304,941 0.0% TDC A.S. 2,474,850 18,900,568 0.2% * Vestas Wind Systems A.S. 190,398 6,354,528 0.1% ------------ --- TOTAL DENMARK 134,026,860 1.4% ------------ --- FINLAND -- (0.7%) Fortum Oyj 1,444,065 33,490,443 0.4% Kesko Oyj Class A 662 24,044 0.0% Kesko Oyj Class B 138,917 5,268,500 0.1% Neste Oil Oyj 193,468 4,174,931 0.0% Stora Enso Oyj Class R 1,586,624 13,102,512 0.1% Stora Enso Oyj Sponsored ADR 91,500 746,640 0.0% UPM-Kymmene Oyj 1,023,417 16,233,967 0.2% UPM-Kymmene Oyj Sponsored ADR 69,300 1,097,712 0.0% ------------ --- TOTAL FINLAND 74,138,749 0.8% ------------ --- FRANCE -- (8.0%) AXA SA 4,004,754 92,503,906 1.0% AXA SA Sponsored ADR 140,900 3,270,289 0.0% BNP Paribas SA 783,124 49,213,123 0.5% * Bollore SA(BQR9N80) 100 45,741 0.0% # Bollore SA(4572709) 20,935 9,925,304 0.1% THE DFA INTERNATIONAL VALUE SERIES CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** --------- ------------ --------------- FRANCE -- (Continued) Bouygues SA 709,374 $ 24,525,872 0.3% Cap Gemini SA 92,794 6,105,486 0.1% Casino Guichard Perrachon SA 166,474 17,069,136 0.2% #* CGG SA Sponsored ADR 128,590 753,537 0.0% Cie de St-Gobain 1,103,444 47,431,371 0.5% Cie Generale des Etablissements Michelin 309,948 26,921,132 0.3% CNP Assurances 367,436 6,869,273 0.1% # Credit Agricole SA 858,491 12,704,184 0.1% Eiffage SA 39,008 2,073,780 0.0% Electricite de France SA 498,285 14,713,553 0.2% GDF Suez 3,247,971 78,860,475 0.8% Groupe Eurotunnel SA 410,098 5,183,328 0.1% Lafarge SA 519,321 36,041,040 0.4% Lagardere SCA 221,491 5,390,278 0.1% Natixis SA 2,034,211 14,002,442 0.1% Orange SA 3,989,277 63,510,770 0.7% * Peugeot SA 1,163,753 13,830,646 0.1% Renault SA 759,515 56,497,480 0.6% Rexel SA 465,411 7,823,113 0.1% SCOR SE 151,231 4,634,084 0.0% Societe Generale SA 1,296,228 62,466,561 0.7% STMicroelectronics NV 1,730,504 11,559,310 0.1% Total SA 180,285 10,763,602 0.1% Vallourec SA 290,641 10,622,079 0.1% Vivendi SA 3,686,124 90,049,366 1.0% ------------ --- TOTAL FRANCE 785,360,261 8.4% ------------ --- GERMANY -- (6.3%) Allianz SE 642,692 102,202,246 1.1% Allianz SE ADR 2,811,910 44,765,607 0.5% Bayerische Motoren Werke AG 765,791 82,121,669 0.9% Celesio AG 108,168 3,568,660 0.0% * Commerzbank AG 1,573,875 23,797,743 0.3% Daimler AG 2,214,556 172,666,663 1.8% Deutsche Bank AG(5750355) 791,806 24,760,866 0.3% # Deutsche Bank AG(D18190898) 464,576 14,550,520 0.2% Deutsche Lufthansa AG 485,172 7,186,692 0.1% # Deutsche Telekom AG Sponsored ADR 82,468 1,235,371 0.0% E.ON SE 2,493,630 42,990,415 0.5% Fraport AG Frankfurt Airport Services Worldwide 43,853 2,717,164 0.0% Hannover Rueck SE 4,845 404,399 0.0% HeidelbergCement AG 351,241 23,978,034 0.3% K+S AG 298,781 8,373,259 0.1% * Metro AG 56,582 1,803,747 0.0% Muenchener Rueckversicherungs-Gesellschaft AG 156,916 30,894,845 0.3% * Osram Licht AG 7,353 258,303 0.0% RWE AG 372,582 13,219,868 0.1% * Talanx AG 3,089 99,682 0.0% Telefonica Deutschland Holding AG 190,366 936,769 0.0% Volkswagen AG 62,518 13,333,102 0.1% ------------ --- TOTAL GERMANY 615,865,624 6.6% ------------ --- THE DFA INTERNATIONAL VALUE SERIES CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ---------- ------------ --------------- HONG KONG -- (2.7%) Cathay Pacific Airways, Ltd. 4,401,000 $ 8,266,090 0.1% Cheung Kong Holdings, Ltd. 750,000 13,343,234 0.2% * FIH Mobile, Ltd. 2,003,000 1,067,103 0.0% Great Eagle Holdings, Ltd. 698,324 2,350,624 0.0% Guoco Group, Ltd. 6,000 73,731 0.0% Hang Lung Group, Ltd. 449,000 2,258,948 0.0% # Henderson Land Development Co., Ltd. 3,355,177 22,666,816 0.2% Hongkong & Shanghai Hotels (The) 1,700,631 2,693,063 0.0% Hopewell Holdings, Ltd. 1,244,169 4,423,331 0.1% Hutchison Whampoa, Ltd. 5,076,000 64,497,462 0.7% Kerry Logistics Network, Ltd. 325,000 529,877 0.0% Kerry Properties, Ltd. 1,667,000 5,729,261 0.1% MTR Corp., Ltd. 1,136,426 4,633,757 0.1% New World Development Co., Ltd. 22,601,543 28,468,638 0.3% Orient Overseas International, Ltd. 603,500 3,422,721 0.0% # Shangri-La Asia, Ltd. 1,604,000 2,333,151 0.0% Sino Land Co., Ltd. 4,141,872 6,878,044 0.1% Sun Hung Kai Properties, Ltd. 2,364,920 35,378,784 0.4% Swire Pacific, Ltd. Class A 922,500 12,111,919 0.1% Swire Pacific, Ltd. Class B 135,000 327,671 0.0% Wharf Holdings, Ltd. (The) 3,706,990 27,489,127 0.3% Wheelock & Co., Ltd. 3,670,000 17,737,196 0.2% ------------ --- TOTAL HONG KONG 266,680,548 2.9% ------------ --- IRELAND -- (0.2%) * Bank of Ireland 27,451,903 10,806,566 0.1% CRH P.L.C. 295,666 6,558,889 0.1% # CRH P.L.C. Sponsored ADR 215,216 4,822,991 0.0% ------------ --- TOTAL IRELAND 22,188,446 0.2% ------------ --- ISRAEL -- (0.3%) Bank Hapoalim BM 3,220,797 16,580,199 0.2% * Bank Leumi Le-Israel BM 3,225,754 11,527,554 0.1% * Israel Discount Bank, Ltd. Class A 459,633 741,305 0.0% Migdal Insurance & Financial Holding, Ltd. 10,788 14,729 0.0% * Mizrahi Tefahot Bank, Ltd. 113,915 1,261,041 0.0% Teva Pharmaceutical Industries, Ltd. Sponsored ADR 13,324 752,406 0.0% ------------ --- TOTAL ISRAEL 30,877,234 0.3% ------------ --- ITALY -- (1.8%) #* Banca Monte dei Paschi di Siena SpA 5,536,180 4,235,791 0.1% * Banco Popolare SC 666,220 9,677,655 0.1% * Finmeccanica SpA 185,045 1,672,142 0.0% Intesa Sanpaolo SpA 10,630,153 31,250,083 0.3% * Mediobanca SpA 1,529,212 13,497,046 0.2% #* Telecom Italia SpA 13,739,672 15,570,913 0.2% #* Telecom Italia SpA Sponsored ADR 1,874,500 21,181,850 0.2% UniCredit SpA 6,991,980 50,640,963 0.5% Unione di Banche Italiane SCPA 3,270,114 25,681,817 0.3% ------------ --- TOTAL ITALY 173,408,260 1.9% ------------ --- THE DFA INTERNATIONAL VALUE SERIES CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** --------- ----------- --------------- JAPAN -- (21.0%) 77 Bank, Ltd. (The) 529,372 $ 2,955,380 0.0% # Aeon Co., Ltd. 2,792,600 27,632,317 0.3% Aisin Seiki Co., Ltd. 584,900 19,482,296 0.2% Alfresa Holdings Corp. 357,600 4,537,912 0.1% Amada Co., Ltd. 563,600 4,922,216 0.1% Aoyama Trading Co., Ltd. 20,400 485,213 0.0% Asahi Glass Co., Ltd. 3,001,000 15,619,248 0.2% Asahi Kasei Corp. 5,056,000 41,490,598 0.4% Asatsu-DK, Inc. 3,400 85,805 0.0% Autobacs Seven Co., Ltd. 214,800 3,151,077 0.0% Awa Bank, Ltd. (The) 65,600 393,378 0.0% Bank of Kyoto, Ltd. (The) 709,400 6,147,336 0.1% Bank of Yokohama, Ltd. (The) 2,785,000 16,095,184 0.2% Canon Marketing Japan, Inc. 136,100 2,782,457 0.0% Chiba Bank, Ltd. (The) 1,204,000 8,552,016 0.1% Chugoku Bank, Ltd. (The) 325,100 4,805,158 0.1% # Citizen Holdings Co., Ltd. 677,800 4,452,692 0.1% Coca-Cola East Japan Co., Ltd. 24,000 431,833 0.0% Coca-Cola West Co., Ltd. 159,107 2,271,304 0.0% COMSYS Holdings Corp. 12,200 217,802 0.0% Cosmo Oil Co., Ltd. 1,287,364 2,005,949 0.0% Dai Nippon Printing Co., Ltd. 1,815,000 17,890,076 0.2% Dai-ichi Life Insurance Co., Ltd. (The) 1,223,200 18,511,540 0.2% Daicel Corp. 575,000 6,628,291 0.1% # Daido Steel Co., Ltd. 675,000 2,589,468 0.0% Denki Kagaku Kogyo K.K. 992,000 3,240,364 0.0% DIC Corp. 1,110,000 2,274,934 0.0% Fuji Media Holdings, Inc. 74,400 1,026,555 0.0% FUJIFILM Holdings Corp. 1,327,000 44,545,517 0.5% Fukuoka Financial Group, Inc. 1,218,000 6,232,566 0.1% # Fukuyama Transporting Co., Ltd. 85,000 426,573 0.0% # Furukawa Electric Co., Ltd. 633,000 1,117,183 0.0% Glory, Ltd. 169,400 4,365,348 0.1% Gunma Bank, Ltd. (The) 650,397 4,058,785 0.0% H2O Retailing Corp. 186,800 3,106,889 0.0% Hachijuni Bank, Ltd. (The) 620,231 3,797,558 0.0% Hankyu Hanshin Holdings, Inc. 1,876,000 11,030,071 0.1% Higo Bank, Ltd. (The) 282,000 1,605,186 0.0% Hiroshima Bank, Ltd. (The) 1,041,000 5,204,351 0.1% Hitachi Capital Corp. 47,000 1,161,727 0.0% Hitachi Chemical Co., Ltd. 234,500 4,133,174 0.0% # Hitachi Construction Machinery Co., Ltd. 322,800 6,602,672 0.1% Hitachi High-Technologies Corp. 139,900 4,273,874 0.1% Hitachi Transport System, Ltd. 105,000 1,389,526 0.0% Hokuhoku Financial Group, Inc. 2,147,000 4,313,066 0.1% Honda Motor Co., Ltd. 2,621,200 83,797,746 0.9% House Foods Group, Inc. 129,700 2,219,463 0.0% Ibiden Co., Ltd. 438,700 6,594,526 0.1% Idemitsu Kosan Co., Ltd. 326,596 6,316,243 0.1% Iida Group Holdings Co., Ltd. 82,400 915,642 0.0% Inpex Corp. 1,335,200 17,077,794 0.2% Isetan Mitsukoshi Holdings, Ltd. 550,400 7,493,180 0.1% THE DFA INTERNATIONAL VALUE SERIES CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ---------- ------------ --------------- JAPAN -- (Continued) ITOCHU Corp. 3,608,800 $ 43,625,123 0.5% Iyo Bank, Ltd. (The) 499,800 5,337,072 0.1% J Front Retailing Co., Ltd. 842,300 11,210,884 0.1% JFE Holdings, Inc. 1,259,700 24,992,406 0.3% Joyo Bank, Ltd. (The) 1,376,000 7,368,011 0.1% JTEKT Corp. 49,900 802,550 0.0% JX Holdings, Inc. 6,192,133 26,524,926 0.3% # K's Holdings Corp. 77,800 2,148,624 0.0% Kagoshima Bank, Ltd. (The) 358,143 2,322,599 0.0% Kajima Corp. 1,900,000 8,454,154 0.1% Kamigumi Co., Ltd. 442,000 4,261,697 0.1% Kaneka Corp. 987,542 5,425,889 0.1% Kawasaki Kisen Kaisha, Ltd. 3,451,000 7,862,704 0.1% Keiyo Bank, Ltd. (The) 418,000 2,185,391 0.0% Kewpie Corp. 47,400 819,297 0.0% Kinden Corp. 207,000 2,121,133 0.0% Kirin Holdings Co., Ltd. 341,000 4,420,998 0.1% Kobe Steel, Ltd. 12,492,000 19,847,881 0.2% Konica Minolta, Inc. 1,762,300 19,691,481 0.2% Kuraray Co., Ltd. 1,109,700 12,889,232 0.1% Kurita Water Industries, Ltd. 13,500 291,320 0.0% Kyocera Corp. 298,900 13,776,727 0.2% Kyocera Corp. Sponsored ADR 25,197 1,168,889 0.0% Kyowa Hakko Kirin Co., Ltd. 391,000 4,560,367 0.1% Lintec Corp. 5,100 106,480 0.0% LIXIL Group Corp. 459,700 10,081,391 0.1% Maeda Road Construction Co., Ltd. 36,000 554,920 0.0% Marubeni Corp. 3,990,000 25,653,493 0.3% # Marui Group Co., Ltd. 386,642 3,267,598 0.0% Maruichi Steel Tube, Ltd. 74,700 1,764,069 0.0% Matsumotokiyoshi Holdings Co., Ltd. 5,000 145,410 0.0% Medipal Holdings Corp. 366,300 4,060,133 0.0% # Mitsubishi Chemical Holdings Corp. 6,081,100 29,954,804 0.3% Mitsubishi Corp. 1,096,800 21,506,438 0.2% Mitsubishi Gas Chemical Co., Inc. 609,000 3,643,757 0.0% Mitsubishi Logistics Corp. 53,000 807,268 0.0% Mitsubishi Materials Corp. 4,725,000 14,788,824 0.2% Mitsubishi Tanabe Pharma Corp. 282,700 4,299,068 0.1% Mitsubishi UFJ Financial Group, Inc. 21,459,506 125,092,037 1.3% Mitsubishi UFJ Financial Group, Inc. ADR 4,781,372 28,114,467 0.3% Mitsui & Co., Ltd. 1,339,800 20,229,721 0.2% Mitsui & Co., Ltd. Sponsored ADR 11,723 3,579,032 0.0% #* Mitsui Chemicals, Inc. 3,026,800 8,767,719 0.1% Mitsui Engineering & Shipbuilding Co., Ltd. 1,309,000 2,845,723 0.0% Mitsui Mining & Smelting Co., Ltd. 69,030 183,107 0.0% # Mitsui OSK Lines, Ltd. 3,362,000 10,621,752 0.1% Mizuho Financial Group, Inc. 51,323,400 93,527,433 1.0% Mizuho Financial Group, Inc. ADR 205,757 761,301 0.0% MS&AD Insurance Group Holdings, Inc. 550,553 11,901,171 0.1% Nagase & Co., Ltd. 235,889 3,055,415 0.0% Nanto Bank, Ltd. (The) 202,000 810,932 0.0% NEC Corp. 10,559,101 37,340,942 0.4% THE DFA INTERNATIONAL VALUE SERIES CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ---------- ----------- --------------- JAPAN -- (Continued) NH Foods, Ltd. 429,536 $ 9,904,966 0.1% NHK Spring Co., Ltd. 424,100 3,881,504 0.0% # Nikon Corp. 715,400 9,802,170 0.1% Nippo Corp. 142,000 2,595,574 0.0% Nippon Electric Glass Co., Ltd. 633,000 2,943,478 0.0% Nippon Express Co., Ltd. 3,154,238 13,875,367 0.2% Nippon Paper Industries Co., Ltd. 334,100 4,916,975 0.1% Nippon Shokubai Co., Ltd. 308,000 3,691,851 0.0% Nippon Steel & Sumitomo Metal Corp. 19,063,940 50,306,760 0.5% # Nippon Yusen K.K. 6,981,000 18,098,655 0.2% Nishi-Nippon City Bank, Ltd. (The) 1,412,569 3,872,161 0.0% Nissan Motor Co., Ltd. 5,844,900 53,315,418 0.6% Nisshin Seifun Group, Inc. 424,318 4,290,714 0.1% Nisshinbo Holdings, Inc. 305,000 2,518,828 0.0% NOK Corp. 249,120 6,311,319 0.1% Nomura Holdings, Inc. 605,400 3,781,562 0.0% Nomura Real Estate Holdings, Inc. 149,600 2,644,013 0.0% NTN Corp. 1,550,000 6,701,844 0.1% NTT DOCOMO, Inc. 3,091,700 52,144,249 0.6% # NTT DOCOMO, Inc. Sponsored ADR 6,118 103,211 0.0% Obayashi Corp. 847,682 5,817,347 0.1% Oji Holdings Corp. 3,347,000 12,101,217 0.1% Onward Holdings Co., Ltd. 60,000 368,687 0.0% Otsuka Holdings Co., Ltd. 156,400 5,486,206 0.1% # Pola Orbis Holdings, Inc. 9,700 398,356 0.0% Rengo Co., Ltd. 152,000 669,112 0.0% Resona Holdings, Inc. 3,227,600 18,461,180 0.2% Ricoh Co., Ltd. 3,203,000 33,078,501 0.4% Rohm Co., Ltd. 233,700 14,225,501 0.2% Sankyo Co., Ltd. 82,500 3,002,259 0.0% SBI Holdings, Inc. 311,800 3,595,534 0.0% Seino Holdings Co., Ltd. 315,000 2,469,854 0.0% Sekisui Chemical Co., Ltd. 125,000 1,557,921 0.0% Sekisui House, Ltd. 2,223,400 27,647,728 0.3% Shiga Bank, Ltd. (The) 451,185 2,526,973 0.0% Shizuoka Bank, Ltd. (The) 1,051,000 10,859,740 0.1% Showa Denko K.K. 5,686,000 7,524,476 0.1% # Showa Shell Sekiyu K.K. 80,300 688,999 0.0% SKY Perfect JSAT Holdings, Inc. 524,100 3,217,342 0.0% Sohgo Security Services Co., Ltd. 37,300 872,281 0.0% Sojitz Corp. 1,906,800 2,842,322 0.0% Sompo Japan Nipponkoa Holdings, Inc. 421,300 10,608,585 0.1% Sony Corp. 975,200 19,253,680 0.2% # Sony Corp. Sponsored ADR 1,801,665 35,709,000 0.4% Sumitomo Bakelite Co., Ltd. 122,000 480,122 0.0% Sumitomo Chemical Co., Ltd. 6,715,000 23,035,379 0.3% Sumitomo Corp. 852,600 9,096,999 0.1% # Sumitomo Dainippon Pharma Co., Ltd. 9,700 114,421 0.0% Sumitomo Electric Industries, Ltd. 2,606,700 35,629,914 0.4% Sumitomo Forestry Co., Ltd. 466,900 4,906,176 0.1% Sumitomo Heavy Industries, Ltd. 1,646,000 9,024,081 0.1% # Sumitomo Metal Mining Co., Ltd. 794,000 11,014,775 0.1% THE DFA INTERNATIONAL VALUE SERIES CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** --------- -------------- --------------- JAPAN -- (Continued) Sumitomo Mitsui Financial Group, Inc. 2,678,800 $ 109,249,245 1.2% Sumitomo Mitsui Trust Holdings, Inc. 4,011,629 16,378,361 0.2% Sumitomo Osaka Cement Co., Ltd. 196,000 612,698 0.0% Sumitomo Rubber Industries, Ltd. 417,600 5,771,665 0.1% Suzuken Co., Ltd. 119,500 3,203,894 0.0% Suzuki Motor Corp. 774,300 25,953,368 0.3% T&D Holdings, Inc. 1,931,200 24,876,716 0.3% Taisho Pharmaceutical Holdings Co., Ltd. 49,199 3,453,208 0.0% # Taiyo Nippon Sanso Corp. 28,000 252,086 0.0% Takashimaya Co., Ltd. 735,634 6,266,554 0.1% # Takata Corp. 13,200 172,497 0.0% TDK Corp. 530,100 30,089,591 0.3% Teijin, Ltd. 3,846,450 9,403,801 0.1% Toho Holdings Co., Ltd. 12,800 167,454 0.0% Tokai Rika Co., Ltd. 153,200 2,917,895 0.0% Tokio Marine Holdings, Inc. 651,100 20,879,550 0.2% Tokyo Broadcasting System Holdings, Inc. 85,300 945,666 0.0% Toppan Printing Co., Ltd. 1,032,000 7,021,963 0.1% Toshiba TEC Corp. 36,000 254,046 0.0% Tosoh Corp. 1,671,000 7,266,476 0.1% Toyo Seikan Group Holdings, Ltd. 284,849 3,454,271 0.0% Toyobo Co., Ltd. 664,000 955,755 0.0% Toyoda Gosei Co., Ltd. 186,900 3,590,685 0.0% # Toyota Boshoku Corp. 125,900 1,429,797 0.0% # Toyota Tsusho Corp. 871,600 21,977,476 0.2% Ube Industries, Ltd. 3,078,000 4,765,712 0.1% UNY Group Holdings Co., Ltd. 95,150 504,431 0.0% Ushio, Inc. 44,200 463,868 0.0% Wacoal Holdings Corp. 179,000 1,864,059 0.0% # Yamada Denki Co., Ltd. 1,608,100 5,154,963 0.1% Yamaguchi Financial Group, Inc. 520,148 4,967,884 0.1% Yamaha Corp. 423,000 5,798,038 0.1% # Yamato Kogyo Co., Ltd. 62,200 2,014,967 0.0% # Yamazaki Baking Co., Ltd. 302,000 3,733,512 0.0% # Yokohama Rubber Co., Ltd. (The) 406,000 3,685,482 0.0% -------------- ---- TOTAL JAPAN 2,063,513,740 22.1% -------------- ---- NETHERLANDS -- (3.2%) Aegon NV 2,915,542 23,762,974 0.3% # Akzo Nobel NV 186,492 12,436,499 0.1% # ArcelorMittal(B03XPL1) 3,429,001 45,043,952 0.5% # ArcelorMittal(B295F26) 638,488 8,402,502 0.1% * ING Groep NV 6,479,202 92,784,515 1.0% #* ING Groep NV Sponsored ADR 1,297,167 18,575,432 0.2% Koninklijke Ahold NV 1,258,998 21,086,488 0.2% Koninklijke Boskalis Westminster NV 170,874 9,116,187 0.1% Koninklijke DSM NV 631,832 39,589,314 0.4% Koninklijke KPN NV 3,251,631 10,703,498 0.1% Koninklijke Philips NV 1,159,088 32,405,647 0.4% TNT Express NV 72,118 419,186 0.0% -------------- ---- TOTAL NETHERLANDS 314,326,194 3.4% -------------- ---- THE DFA INTERNATIONAL VALUE SERIES CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ---------- ------------ --------------- NEW ZEALAND -- (0.1%) # Auckland International Airport, Ltd. 625,095 $ 1,889,779 0.0% Contact Energy, Ltd. 1,292,916 6,272,201 0.1% Fletcher Building, Ltd. 179,799 1,212,730 0.0% ------------ --- TOTAL NEW ZEALAND 9,374,710 0.1% ------------ --- NORWAY -- (0.8%) Aker ASA Class A 68,150 1,662,323 0.0% DNB ASA 1,598,655 29,370,899 0.3% Norsk Hydro ASA 2,643,582 14,801,197 0.2% # Norsk Hydro ASA Sponsored ADR 59,900 339,633 0.0% Orkla ASA 361,613 2,764,905 0.0% # Seadrill, Ltd. 194,962 4,484,126 0.1% Statoil ASA 41,372 946,816 0.0% Statoil ASA Sponsored ADR 14,982 343,837 0.0% Stolt-Nielsen, Ltd. 2,740 49,369 0.0% * Storebrand ASA 850,351 4,360,093 0.0% Subsea 7 SA 616,297 6,632,207 0.1% Yara International ASA 239,269 10,987,554 0.1% ------------ --- TOTAL NORWAY 76,742,959 0.8% ------------ --- PORTUGAL -- (0.0%) * Banco Comercial Portugues SA 4,058,501 458,719 0.0% * Banco Espirito Santo SA 2,631,973 -- 0.0% EDP Renovaveis SA 525,282 3,415,196 0.0% ------------ --- TOTAL PORTUGAL 3,873,915 0.0% ------------ --- SINGAPORE -- (1.2%) CapitaLand, Ltd. 5,923,000 14,623,388 0.2% City Developments, Ltd. 464,000 3,415,004 0.0% DBS Group Holdings, Ltd. 2,067,587 29,743,096 0.3% Golden Agri-Resources, Ltd. 15,835,000 6,417,150 0.1% GuocoLand, Ltd. 9,000 13,365 0.0% # Hutchison Port Holdings Trust 8,077,000 5,453,663 0.1% Keppel Land, Ltd. 1,713,000 4,457,420 0.0% #* Neptune Orient Lines, Ltd. 1,388,004 902,894 0.0% Noble Group, Ltd. 10,011,000 9,318,817 0.1% # OUE, Ltd. 405,000 665,832 0.0% Singapore Airlines, Ltd. 2,355,600 18,153,746 0.2% United Industrial Corp., Ltd. 2,036,366 5,298,151 0.1% UOL Group, Ltd. 1,001,864 5,032,113 0.1% Venture Corp., Ltd. 319,000 1,921,465 0.0% Wheelock Properties Singapore, Ltd. 861,000 1,208,238 0.0% Wilmar International, Ltd. 4,154,000 10,354,631 0.1% ------------ --- TOTAL SINGAPORE 116,978,973 1.3% ------------ --- SPAIN -- (2.4%) * Acciona SA 101,533 7,095,988 0.1% # Banco de Sabadell SA 13,625,393 39,394,013 0.4% Banco Popular Espanol SA 3,581,913 20,575,259 0.2% Banco Santander SA 3,405,732 30,091,424 0.3% # Banco Santander SA Sponsored ADR 727,676 6,381,719 0.1% THE DFA INTERNATIONAL VALUE SERIES CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ---------- ------------ --------------- SPAIN -- (Continued) CaixaBank SA 2,057,650 $ 11,245,475 0.1% Iberdrola SA 11,714,112 82,923,213 0.9% Mapfre SA 1,691,013 5,798,574 0.1% Repsol SA 1,490,932 33,320,804 0.3% ------------ --- TOTAL SPAIN 236,826,469 2.5% ------------ --- SWEDEN -- (3.0%) Boliden AB 848,808 14,028,557 0.2% # Holmen AB Class A 5,131 168,159 0.0% ICA Gruppen AB 2,667 106,788 0.0% Meda AB Class A 280,396 3,672,090 0.0% Nordea Bank AB 3,823,977 49,183,048 0.5% Skandinaviska Enskilda Banken AB Class A 3,481,813 44,721,326 0.5% # Skandinaviska Enskilda Banken AB Class C 17,902 220,244 0.0% #* SSAB AB Class A 98,114 711,960 0.0% * SSAB AB Class B 11,133 71,301 0.0% Svenska Cellulosa AB Class A 66,476 1,493,485 0.0% Svenska Cellulosa AB Class B 1,954,836 43,800,996 0.5% Svenska Handelsbanken AB Class A 336,374 16,080,422 0.2% Svenska Handelsbanken AB Class B 252 11,576 0.0% Swedbank AB Class A 674,237 17,867,734 0.2% Tele2 AB Class B 567,085 7,205,153 0.1% Telefonaktiebolaget LM Ericsson Class A 28,098 312,970 0.0% Telefonaktiebolaget LM Ericsson Class B 4,879,427 57,657,241 0.6% # Telefonaktiebolaget LM Ericsson Sponsored ADR 952,162 11,273,598 0.1% TeliaSonera AB 3,717,354 25,741,810 0.3% ------------ --- TOTAL SWEDEN 294,328,458 3.2% ------------ --- SWITZERLAND -- (9.9%) ABB, Ltd. 3,170,149 69,548,848 0.7% # ABB, Ltd. Sponsored ADR 98,484 2,160,739 0.0% Adecco SA 533,056 36,131,392 0.4% Alpiq Holding AG 957 96,283 0.0% Aryzta AG 235,226 20,065,140 0.2% Baloise Holding AG 200,163 25,197,475 0.3% Banque Cantonale Vaudoise 468 250,652 0.0% Cie Financiere Richemont SA 359,310 30,294,784 0.3% Clariant AG 858,961 14,982,884 0.2% Credit Suisse Group AG 345,028 9,192,856 0.1% # Credit Suisse Group AG Sponsored ADR 849,993 22,643,814 0.2% Givaudan SA 5,469 9,133,078 0.1% Holcim, Ltd. 887,877 63,016,649 0.7% Julius Baer Group, Ltd. 145,910 6,396,362 0.1% Lonza Group AG 144,300 15,899,915 0.2% Novartis AG 2,434,443 225,923,258 2.4% Novartis AG ADR 681,571 63,174,816 0.7% Sulzer AG 50,596 5,766,879 0.1% Swatch Group AG (The) 44,280 3,746,204 0.0% Swiss Life Holding AG 80,079 18,373,383 0.2% Swiss Re AG 1,547,148 125,103,648 1.3% Syngenta AG 57,562 17,801,470 0.2% UBS AG(B18YFJ4) 4,344,251 75,538,418 0.8% THE DFA INTERNATIONAL VALUE SERIES CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ---------- -------------- --------------- SWITZERLAND -- (Continued) UBS AG(H89231338) 505,823 $ 8,791,204 0.1% Zurich Insurance Group AG 333,311 100,869,393 1.1% -------------- ---- TOTAL SWITZERLAND 970,099,544 10.4% -------------- ---- UNITED KINGDOM -- (16.4%) Anglo American P.L.C. 3,310,475 69,895,879 0.7% Barclays P.L.C. 6,193,091 23,818,123 0.3% # Barclays P.L.C. Sponsored ADR 5,060,358 77,929,513 0.8% Barratt Developments P.L.C. 917,814 6,169,892 0.1% BP P.L.C. 1,912,816 13,762,522 0.1% BP P.L.C. Sponsored ADR 7,387,909 321,078,524 3.4% Carnival P.L.C. 658,867 26,272,935 0.3% Carnival P.L.C. ADR 229,328 9,136,428 0.1% Friends Life Group, Ltd. 3,422,696 17,750,179 0.2% Glencore P.L.C. 9,442,477 48,445,899 0.5% HSBC Holdings P.L.C. 9,197,250 93,769,306 1.0% HSBC Holdings P.L.C. Sponsored ADR 2,089,967 106,630,116 1.1% Investec P.L.C. 1,195,168 10,959,062 0.1% # J Sainsbury P.L.C. 5,377,115 21,183,468 0.2% Kingfisher P.L.C. 7,842,790 37,994,116 0.4% * Lloyds Banking Group P.L.C. 34,635,010 42,770,387 0.5% * Lloyds Banking Group P.L.C. ADR 1,528,251 7,518,995 0.1% Old Mutual P.L.C. 9,672,569 30,038,893 0.3% Pearson P.L.C. Sponsored ADR 1,179,255 22,111,031 0.2% * Royal Bank of Scotland Group P.L.C. 3,847,507 23,922,065 0.3% #* Royal Bank of Scotland Group P.L.C. Sponsored ADR 400,166 4,974,063 0.1% # Royal Dutch Shell P.L.C. ADR(780259107) 3,323,210 248,144,091 2.7% Royal Dutch Shell P.L.C. ADR(780259206) 755,142 54,211,644 0.6% Royal Dutch Shell P.L.C. Class A 578,802 20,675,822 0.2% Royal Dutch Shell P.L.C. Class B 255,146 9,426,478 0.1% * RSA Insurance Group P.L.C. 1,362,966 10,546,159 0.1% Standard Chartered P.L.C. 4,120,837 62,029,541 0.7% Vedanta Resources P.L.C. 189,404 2,499,404 0.0% Vodafone Group P.L.C. 27,417,470 91,175,542 1.0% Vodafone Group P.L.C. Sponsored ADR 2,196,216 72,958,305 0.8% # WM Morrison Supermarkets P.L.C. 8,127,143 20,178,805 0.2% -------------- ---- TOTAL UNITED KINGDOM 1,607,977,187 17.2% -------------- ---- TOTAL COMMON STOCKS 9,265,760,431 99.2% -------------- ---- PREFERRED STOCKS -- (0.2%) GERMANY -- (0.2%) Porsche Automobil Holding SE 254,382 20,887,882 0.2% -------------- ---- RIGHTS/WARRANTS -- (0.0%) FRANCE -- (0.0%) * Peugeot SA Warrants 04/29/17 159,012 241,112 0.0% -------------- ---- SPAIN -- (0.0%) * Banco Santander SA Rights 11/03/14 3,405,731 648,719 0.0% -------------- ---- TOTAL RIGHTS/WARRANTS 889,831 0.0% -------------- ---- THE DFA INTERNATIONAL VALUE SERIES CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** ---------- -------------- --------------- SECURITIES LENDING COLLATERAL -- (5.5%) (S)@ DFA Short Term Investment Fund 46,617,671 $ 539,366,448 5.8% -------------- ----- TOTAL INVESTMENTS -- (100.0%) (Cost $8,769,870,982) $9,826,904,592 105.2% ============== ===== THE DFA INTERNATIONAL VALUE SERIES CONTINUED Summary of the Series' investments as of October 31, 2014, 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 $ 18,343,012 $ 555,433,184 -- $ 573,776,196 Austria -- 13,688,459 -- 13,688,459 Belgium 3,605,664 111,936,796 -- 115,542,460 Canada 766,135,100 -- -- 766,135,100 China -- 30,085 -- 30,085 Denmark -- 134,026,860 -- 134,026,860 Finland 1,844,352 72,294,397 -- 74,138,749 France 4,069,567 781,290,694 -- 785,360,261 Germany 60,551,498 555,314,126 -- 615,865,624 Hong Kong -- 266,680,548 -- 266,680,548 Ireland 4,822,991 17,365,455 -- 22,188,446 Israel 752,406 30,124,828 -- 30,877,234 Italy 21,181,850 152,226,410 -- 173,408,260 Japan 69,435,900 1,994,077,840 -- 2,063,513,740 Netherlands 26,977,934 287,348,260 -- 314,326,194 New Zealand -- 9,374,710 -- 9,374,710 Norway 5,167,596 71,575,363 -- 76,742,959 Portugal -- 3,873,915 -- 3,873,915 Singapore -- 116,978,973 -- 116,978,973 Spain 6,381,719 230,444,750 -- 236,826,469 Sweden 11,273,598 283,054,860 -- 294,328,458 Switzerland 96,770,573 873,328,971 -- 970,099,544 United Kingdom 924,692,710 683,284,477 -- 1,607,977,187 Preferred Stocks Germany -- 20,887,882 -- 20,887,882 Rights/Warrants France -- 241,112 -- 241,112 Spain -- 648,719 -- 648,719 Securities Lending Collateral -- 539,366,448 -- 539,366,448 --------------- -------------- -- -------------- TOTAL $2,022,006,470 $7,804,898,122 -- $9,826,904,592 =============== ============== == ============== THE JAPANESE SMALL COMPANY SERIES SCHEDULE OF INVESTMENTS OCTOBER 31, 2014 PERCENTAGE SHARES VALUE++ OF NET ASSETS** --------- ---------- --------------- COMMON STOCKS -- (86.8%) Consumer Discretionary -- (17.9%) # Accordia Golf Co., Ltd. 306,889 $3,233,490 0.1% # Adastria Holdings Co., Ltd. 93,820 2,086,985 0.1% # Aeon Fantasy Co., Ltd. 57,832 750,890 0.0% #* AGORA Hospitality Group Co., Ltd. 427,000 177,575 0.0% Ahresty Corp. 127,000 712,280 0.0% * Aigan Co., Ltd. 95,200 222,525 0.0% Aisan Industry Co., Ltd. 184,400 1,478,636 0.1% # Akebono Brake Industry Co., Ltd. 403,400 1,572,409 0.1% # Alpen Co., Ltd. 112,500 1,736,466 0.1% Alpha Corp. 30,400 293,429 0.0% Alpine Electronics, Inc. 272,000 4,642,893 0.2% Amiyaki Tei Co., Ltd. 24,500 875,119 0.0% Amuse, Inc. 22,299 642,190 0.0% * Anrakutei Co., Ltd. 22,000 79,327 0.0% AOI Pro, Inc. 39,200 242,654 0.0% AOKI Holdings, Inc. 276,200 3,097,939 0.1% Aoyama Trading Co., Ltd. 315,900 7,513,669 0.3% Arata Corp. 91,000 272,069 0.0% Arcland Sakamoto Co., Ltd. 84,500 1,883,769 0.1% Asahi Broadcasting Corp. 21,200 143,280 0.0% # Asahi Co., Ltd. 95,000 1,056,289 0.1% # Asatsu-DK, Inc. 199,100 5,024,611 0.2% #* Ashimori Industry Co., Ltd. 319,000 562,038 0.0% # ASKUL Corp. 46,600 968,359 0.1% # Atom Corp. 135,300 739,383 0.0% Atsugi Co., Ltd. 765,000 784,853 0.0% Autobacs Seven Co., Ltd. 419,100 6,148,121 0.3% # Avex Group Holdings, Inc. 234,300 3,480,180 0.2% Belluna Co., Ltd. 214,500 959,229 0.0% Best Denki Co., Ltd. 396,500 481,767 0.0% # Bic Camera, Inc. 497,600 4,362,857 0.2% Bookoff Corp. 58,000 435,682 0.0% # BRONCO BILLY Co., Ltd. 13,900 383,290 0.0% Calsonic Kansei Corp. 990,000 5,481,082 0.2% # Can Do Co., Ltd. 65,300 962,800 0.1% Central Sports Co., Ltd. 27,700 440,270 0.0% CHIMNEY Co., Ltd. 19,600 384,734 0.0% # Chiyoda Co., Ltd. 152,300 3,013,390 0.1% Chofu Seisakusho Co., Ltd. 86,200 2,598,779 0.1% # Chori Co., Ltd. 73,900 1,086,230 0.1% Chuo Spring Co., Ltd. 202,000 595,057 0.0% #* Clarion Co., Ltd. 767,000 2,524,094 0.1% Cleanup Corp. 133,500 1,172,554 0.1% # Colowide Co., Ltd. 351,000 4,205,885 0.2% # COOKPAD, Inc. 88,100 2,875,381 0.1% Corona Corp. 82,400 857,718 0.0% # Cross Plus, Inc. 22,000 157,578 0.0% # DA Consortium, Inc. 143,200 595,734 0.0% Daido Metal Co., Ltd. 190,000 2,232,435 0.1% # Daidoh, Ltd. 130,000 594,524 0.0% #* Daiei, Inc. (The) 1,408,000 1,602,843 0.1% THE JAPANESE SMALL COMPANY SERIES CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** --------- ---------- --------------- Consumer Discretionary -- (Continued) Daiichikosho Co., Ltd. 174,000 $4,391,143 0.2% Daikoku Denki Co., Ltd. 44,700 735,659 0.0% Daimaruenawin Co., Ltd. 400 2,633 0.0% # Dainichi Co., Ltd. 49,300 344,238 0.0% # Daisyo Corp. 54,300 656,118 0.0% DCM Holdings Co., Ltd. 537,400 3,600,220 0.2% # Descente, Ltd. 244,000 2,280,801 0.1% Doshisha Co., Ltd. 140,100 2,316,841 0.1% Doutor Nichires Holdings Co., Ltd. 174,386 2,597,882 0.1% Dunlop Sports Co., Ltd. 77,500 907,478 0.0% Dynic Corp. 174,000 278,486 0.0% Eagle Industry Co., Ltd. 150,900 2,894,359 0.1% # EDION Corp. 528,800 3,772,846 0.2% Exedy Corp. 185,100 4,678,828 0.2% F T Communications Co., Ltd. 7,300 152,377 0.0% F-Tech, Inc. 26,900 291,250 0.0% # FCC Co., Ltd. 200,100 3,405,467 0.1% # Fields Corp. 88,200 1,154,859 0.1% Fine Sinter Co., Ltd. 49,000 144,391 0.0% # First Juken Co., Ltd. 8,900 99,875 0.0% # Foster Electric Co., Ltd. 129,400 2,050,046 0.1% # France Bed Holdings Co., Ltd. 702,000 1,157,845 0.1% # Fuji Co., Ltd. 109,800 2,161,222 0.1% # Fuji Corp., Ltd. 132,700 754,542 0.0% Fuji Kiko Co., Ltd. 148,000 736,993 0.0% # Fuji Kyuko Co., Ltd. 139,000 1,444,430 0.1% Fuji Oozx, Inc. 6,000 25,200 0.0% # Fujibo Holdings, Inc. 763,000 2,114,771 0.1% # Fujikura Rubber, Ltd. 44,200 318,811 0.0% Fujishoji Co., Ltd. 21,300 246,503 0.0% # Fujita Kanko, Inc. 88,000 309,252 0.0% # Fujitsu General, Ltd. 378,000 4,731,958 0.2% FuKoKu Co., Ltd. 36,400 403,188 0.0% # Funai Electric Co., Ltd. 41,000 367,694 0.0% # Furukawa Battery Co., Ltd. (The) 98,000 820,635 0.0% Futaba Industrial Co., Ltd. 321,600 1,793,089 0.1% G-7 Holdings, Inc. 29,200 240,376 0.0% # G-Tekt Corp. 94,000 937,589 0.0% # Gakken Holdings Co., Ltd. 322,000 731,009 0.0% Genki Sushi Co., Ltd. 31,200 543,348 0.0% # Geo Holdings Corp. 197,800 1,746,575 0.1% # GLOBERIDE, Inc. 641,000 868,686 0.0% Goldwin, Inc. 188,000 1,056,451 0.1% Gourmet Kineya Co., Ltd. 87,000 683,400 0.0% # GSI Creos Corp. 345,000 451,273 0.0% Gulliver International Co., Ltd. 392,700 3,428,528 0.1% Gunze, Ltd. 1,111,000 3,091,959 0.1% # H-One Co., Ltd. 69,500 425,423 0.0% H2O Retailing Corp. 442,605 7,361,480 0.3% # Hagihara Industries, Inc. 22,700 331,260 0.0% Hakuyosha Co., Ltd. 65,000 144,318 0.0% # Happinet Corp. 96,500 1,655,211 0.1% THE JAPANESE SMALL COMPANY SERIES CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** --------- ---------- --------------- Consumer Discretionary -- (Continued)