UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC  20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-04550                                                      

The MainStay Funds

(Exact name of Registrant as specified in charter)

51 Madison Avenue, New York, New York  10010

(Address of principal executive offices)    (Zip Code)

Marguerite E. H. Morrison, 169 Lackawanna Avenue, Parsippany, NJ  07054

(Name and address of agent for service)

Registrant’s telephone number, including area code: 212-576-7000                                

Date of fiscal year end: October 31                                           

Date of reporting period: July 31, 2009                                

Item 1.  Schedule of Investments.

The schedule of investments for the period ended July 31, 2009 is filed herewith.

MainStay Capital Appreciation Fund

Portfolio of Investments  July 31, 2009 unaudited

		Shares		Value
	Common Stocks 95.5%†
	Aerospace & Defense 3.3%
	Precision Castparts Corp.		91,766	$	7,323,844
	United Technologies Corp.		188,700		10,278,489
					17,602,333
	Air Freight & Logistics 1.4%
	C.H. Robinson Worldwide, Inc.		83,738		4,566,233
	Expeditors International of Washington, Inc.		92,947		3,153,692
					7,719,925
	Beverages 4.3%
	Coca-Cola Co. (The)		230,780		11,502,075
	PepsiCo, Inc.		207,734		11,788,905
					23,290,980
	Biotechnology 2.8%
	Celgene Corp. (a)		53,640		3,055,334
¤	Gilead Sciences, Inc. (a)		242,575		11,869,195
					14,924,529
	Capital Markets 5.3%
	BlackRock, Inc.		33,472		6,377,755
	Charles Schwab Corp. (The)		332,240		5,937,129
	Goldman Sachs Group, Inc. (The)		36,796		6,008,787
	Morgan Stanley		138,856		3,957,396
	State Street Corp.		122,992		6,186,497
					28,467,564
	Chemicals 2.3%
	Ecolab, Inc.		73,008		3,030,562
	Monsanto Co.		112,271		9,430,764
					12,461,326
	Communications Equipment 6.1%
¤	Cisco Systems, Inc. (a)		546,274		12,023,491
¤	QUALCOMM, Inc.		337,485		15,595,182
	Research In Motion, Ltd. (a)		73,097		5,555,372
					33,174,045
	Computers & Peripherals 8.2%
¤	Apple, Inc. (a)		112,441		18,371,735
	Hewlett-Packard Co.		199,521		8,639,259
¤	International Business Machines Corp.		147,709		17,419,323
					44,430,317
	Construction & Engineering 1.0%
	Aecom Technology Corp. (a)		162,028		5,249,707
	Consumer Finance 0.8%
	American Express Co.		153,203		4,340,241
	Diversified Financial Services 1.4%
	IntercontinentalExchange, Inc. (a)		28,130		2,645,908
	JPMorgan Chase & Co.		121,500		4,695,975
					7,341,883
	Energy Equipment & Services 2.6%
	FMC Technologies, Inc. (a)		136,809		5,951,191
	Transocean, Inc. (a)		53,400		4,255,446
	Weatherford International, Ltd. (a)		204,496		3,836,345
					14,042,982
	Food & Staples Retailing 4.7%
	CVS Caremark Corp.		174,225		5,833,053
	Kroger Co. (The)		209,855		4,486,700
¤	Wal-Mart Stores, Inc.		297,738		14,851,171
					25,170,924
	Food Products 0.2%
	General Mills, Inc.		18,355		1,081,293
	Health Care Equipment & Supplies 5.6%
	Baxter International, Inc.		184,449		10,397,390
	Becton, Dickinson & Co.		68,600		4,469,290
	Medtronic, Inc.		216,614		7,672,468
	St. Jude Medical, Inc. (a)		202,100		7,621,191
					30,160,339
	Health Care Providers & Services 2.9%
	DaVita, Inc. (a)		80,022		3,977,093
	Medco Health Solutions, Inc. (a)		219,400		11,597,484
					15,574,577
	Hotels, Restaurants & Leisure 2.9%
	Carnival Corp.		247,700		6,933,123
	McDonald's Corp.		159,183		8,764,616
					15,697,739
	Internet & Catalog Retail 1.4%
	Priceline.com, Inc. (a)		59,916		7,766,312
	Internet Software & Services 4.8%
	Baidu, Inc., ADR (a)(b)		15,650		5,448,391
	Equinix, Inc. (a)		75,056		6,134,327
¤	Google, Inc. Class A (a)		32,752		14,510,774
					26,093,492
	IT Services 4.3%
	Cognizant Technology Solutions Corp. Class A (a)		286,910		8,489,667
	Mastercard, Inc. Class A		24,583		4,769,839
	Visa, Inc. Class A		156,419		10,239,188
					23,498,694
	Machinery 1.3%
	Danaher Corp.		115,642		7,081,916
	Multiline Retail 1.4%
	Kohl's Corp. (a)		152,257		7,392,077
	Oil, Gas & Consumable Fuels 3.4%
	CONSOL Energy, Inc.		67,123		2,384,880
	Petro-Canada		94,805		3,922,083
	PetroHawk Energy Corp. (a)		164,486		3,993,720
	Petroleo Brasileiro S.A., ADR (b)		88,984		3,669,700
	Southwestern Energy Co. (a)		112,485		4,660,254
					18,630,637
	Pharmaceuticals 3.4%
	Abbott Laboratories		206,008		9,268,300
	Allergan, Inc.		65,082		3,477,331
	Teva Pharmaceutical Industries, Ltd., Sponsored ADR (b)		106,276		5,668,762
					18,414,393
	Road & Rail 2.6%
	Norfolk Southern Corp.		101,645		4,396,146
	Union Pacific Corp.		164,738		9,475,730
					13,871,876
	Semiconductors & Semiconductor Equipment 4.2%
	Broadcom Corp. Class A (a)		103,696		2,927,338
	Intel Corp.		375,483		7,228,048
	Lam Research Corp. (a)		140,991		4,238,190
	Marvell Technology Group, Ltd. (a)		464,500		6,196,430
	Texas Instruments, Inc.		89,085		2,142,494
					22,732,500
	Software 7.9%
	Autodesk, Inc. (a)		145,941		3,182,973
	McAfee, Inc. (a)		98,615		4,396,257
¤	Microsoft Corp.		984,129		23,146,714
¤	Oracle Corp.		549,300		12,156,009
					42,881,953
	Specialty Retail 2.1%
	Best Buy Co., Inc.		130,489		4,876,374
	Lowe's Cos., Inc.		291,365		6,544,058
					11,420,432
	Tobacco 1.1%
	Philip Morris International, Inc.		124,400		5,797,040
	Trading Companies & Distributors 0.3%
	Fastenal Co.		54,249		1,929,637
	Wireless Telecommunication Services 1.5%
	American Tower Corp. Class A (a)		128,701		4,387,417
	NII Holdings, Inc. (a)		153,602		3,535,918
					7,923,335
	Total Common Stocks (Cost $491,603,938)				516,164,998
	Exchange Traded Funds 2.6% (c)
¤	iShares Russell 1000 Growth Index Fund		277,800		12,148,194
	ProShares Ultra S&P500		73,000		2,184,160
	Total Exchange Traded Funds (Cost $12,259,853)				14,332,354

	Principal Amount			Value
Short-Term Investment 2.1%
Repurchase Agreement 2.1%
State Street Bank and Trust Co. 0.02%, dated 7/31/09 due 8/3/09 Proceeds at Maturity $11,186,417 (Collateralized by a United States Treasury Bill with a rate of 0.199% and a maturity date of 9/24/09, with a Principal Amount of $11,415,000 and a Market Value of $11,411,576)	$	11,186,399			11,186,399
Total Short-Term Investment (Cost $11,186,399)					11,186,399
Total Investments (Cost $515,050,190) (d)		100.2	%		541,683,751
Liabilities in Excess of
Cash and Other Assets		(0.2	)		(1,349,974	)
Net Assets		100.0	%	$	540,333,777

¤	Among the Fund's 10 largest holdings, as of July 31, 2009, excluding short-term investment.  May be subject to change daily.
†	Percentages indicated are based on Fund net assets.
(a)	Non-income producing security.
(b)	ADR - American Depositary Receipt.
(c)	Exchange Traded Fund - represents a basket of securities that is traded on an exchange.
(d)	At July 31, 2009, cost is $515,206,783 for federal income tax purposes and net unrealized appreciation is as follows:

Gross unrealized appreciation	$	49,465,757
Gross unrealized depreciation		(22,988,789	)
Net unrealized appreciation	$	26,476,968

The following is a list of the inputs used as of July 31, 2009 for valuing the Fund’s assets.

Asset Valuation Inputs

Description		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Common Stocks
Aerospace & Defense	$	17,602,333	$	—	$	—	$	17,602,333
Air Freight & Logistics		7,719,925		—		—		7,719,925
Beverages		23,290,980		—		—		23,290,980
Biotechnology		14,924,529		—		—		14,924,529
Capital Markets		28,467,564		—		—		28,467,564
Chemicals		12,461,326		—		—		12,461,326
Communications Equipment		33,174,045		—		—		33,174,045
Computers & Peripherals		44,430,317		—		—		44,430,317
Construction & Engineering		5,249,707		—		—		5,249,707
Consumer Finance		4,340,241		—		—		4,340,241
Diversified Financial Services		7,341,883		—		—		7,341,883
Energy Equipment & Services		14,042,982		—		—		14,042,982
Food & Staples Retailing		25,170,924		—		—		25,170,924
Food Products		1,081,293		—		—		1,081,293
Health Care Equipment & Supplies		30,160,339		—		—		30,160,339
Health Care Providers & Services		15,574,577		—		—		15,574,577
Hotels, Restaurants & Leisure		15,697,739		—		—		15,697,739
Internet & Catalog Retail		7,766,312		—		—		7,766,312
Internet Software & Services		26,093,492		—		—		26,093,492
IT Services		23,498,694		—		—		23,498,694
Machinery		7,081,916		—		—		7,081,916
Multiline Retail		7,392,077		—		—		7,392,077
Oil, Gas & Consumable Fuels		18,630,637		—		—		18,630,637
Pharmaceuticals		18,414,393		—		—		18,414,393
Road & Rail		13,871,876		—		—		13,871,876
Semiconductors & Semiconductor Equipment		22,732,500		—		—		22,732,500
Software		42,881,953		—		—		42,881,953
Specialty Retail		11,420,432		—		—		11,420,432
Tobacco		5,797,040		—		—		5,797,040
Trading Companies & Distributors		1,929,637		—		—		1,929,637
Wireless Telecommunication Services		7,923,335		—		—		7,923,335
Total Common Stocks		516,164,998		—		—		516,164,998
Exchange Traded Funds		14,332,354		—		—		14,332,354
Short-Term Investment
Repurchase Agreement		—		11,186,399		—		11,186,399
Total Short-Term Investment		—		11,186,399		—		11,186,399
Total	$	530,497,352	$	11,186,399	$	—	$	541,683,751

At July 31, 2009, the Fund did not hold any investments with significant unobservable inputs (Level 3).

MainStay Common Stock Fund
Portfolio of Investments July 31, 2009 unaudited
		Shares			Value
	Common Stocks 99.6%†
	Aerospace & Defense 2.2%
	L-3 Communications Holdings, Inc.		6,536		$	493,468
	Lockheed Martin Corp.		31,747			2,373,406
	Northrop Grumman Corp.		45,027			2,007,304
	Precision Castparts Corp.		9,940			793,311
	Raytheon Co.		27,210			1,277,509
	United Technologies Corp.		6,542			356,343
						7,301,341
	Air Freight & Logistics 1.3%
	FedEx Corp.		14,764			1,001,590
	United Parcel Service, Inc. Class B		59,878			3,217,245
						4,218,835
	Auto Components 0.2%
	Johnson Controls, Inc.		24,588			636,337
	Automobiles 0.2%
	Ford Motor Co. (a)		65,052			520,416
	Beverages 2.1%
	Coca-Cola Co. (The)		43,292			2,157,673
	Coca-Cola Enterprises, Inc.		84,780			1,593,016
	Hansen Natural Corp. (a)		3,506			108,721
	Pepsi Bottling Group, Inc. (The)		36,323			1,233,166
	PepsiCo, Inc.		30,190			1,713,283
						6,805,859
	Biotechnology 1.9%
	Amgen, Inc. (a)		68,759			4,284,373
	Biogen Idec, Inc. (a)		42,679			2,029,387
	Gilead Sciences, Inc. (a)		1,083			52,991
						6,366,751
	Capital Markets 4.0%
	Bank of New York Mellon Corp. (The)		85,886			2,348,123
	Charles Schwab Corp. (The)		122,239			2,184,411
	Goldman Sachs Group, Inc. (The)		9,290			1,517,057
	Invesco, Ltd.		20,230			399,543
	Morgan Stanley		87,963			2,506,945
	Northern Trust Corp.		36,652			2,192,156
	Raymond James Financial, Inc.		4,669			95,808
	State Street Corp.		40,875			2,056,013
						13,300,056
	Chemicals 0.9%
	Ashland, Inc.		4,759			157,713
	CF Industries Holdings, Inc.		12,929			1,020,615
	Dow Chemical Co. (The)		15,262			323,097
	Eastman Chemical Co.		14,575			723,794
	Monsanto Co.		2,450			205,800
	Terra Industries, Inc.		16,610			484,348
						2,915,367
	Commercial Banks 0.8%
	BancorpSouth, Inc.		3,502			78,795
	Wells Fargo & Co.		110,337			2,698,843
						2,777,638
	Commercial Services & Supplies 0.7%
	Iron Mountain, Inc. (a)		18,092			528,467
	R.R. Donnelley & Sons Co.		6,790			94,381
	Waste Management, Inc.		55,205			1,551,813
						2,174,661
	Communications Equipment 3.3%
	3Com Corp. (a)		27,606			104,075
¤	Cisco Systems, Inc. (a)		291,722			6,420,801
	JDS Uniphase Corp. (a)		45,245			265,136
	QUALCOMM, Inc.		86,414			3,993,191
	Tellabs, Inc. (a)		39,922			231,547
						11,014,750
	Computers & Peripherals 8.9%
¤	Apple, Inc. (a)		45,189			7,383,431
	Dell, Inc. (a)		9,738			130,294
	EMC Corp. (a)		195,017			2,936,956
¤	Hewlett-Packard Co.		132,644			5,743,485
¤	International Business Machines Corp.		65,317			7,702,834
	NetApp, Inc. (a)		87,814			1,972,303
	QLogic Corp. (a)		19,183			250,338
	Sun Microsystems, Inc. (a)		18,105			166,023
	Teradata Corp. (a)		46,216			1,135,527
	Western Digital Corp. (a)		65,212			1,972,663
						29,393,854
	Construction & Engineering 0.5%
	Fluor Corp.		11,106			586,397
	Shaw Group, Inc. (The) (a)		15,971			470,186
	URS Corp. (a)		14,088			712,853
						1,769,436
	Consumer Finance 0.4%
	Discover Financial Services		99,716			1,184,626
	Diversified Consumer Services 0.4%
	Apollo Group, Inc. Class A (a)		21,039			1,452,533
	Diversified Financial Services 3.3%
	Bank of America Corp.		239,317			3,539,499
¤	JPMorgan Chase & Co.		188,331			7,278,993
						10,818,492
	Diversified Telecommunication Services 4.1%
¤	AT&T, Inc.		284,854			7,471,720
	Qwest Communications International, Inc.		208,439			804,575
	Verizon Communications, Inc.		159,209			5,105,833
						13,382,128
	Electric Utilities 1.1%
	Entergy Corp.		2,478			199,058
	Exelon Corp.		56,325			2,864,689
	FPL Group, Inc.		10,574			599,229
						3,662,976
	Electrical Equipment 0.8%
	Cooper Industries, Ltd. Class A		44,605			1,469,735
	Emerson Electric Co.		27,022			983,060
	Hubbel, Inc. Class B		9,283			346,442
						2,799,237
	Electronic Equipment & Instruments 0.8%
	Arrow Electronics, Inc. (a)		22,770			586,783
	Avnet, Inc. (a)		27,107			661,411
	Ingram Micro, Inc. Class A (a)		30,907			519,856
	Molex, Inc.		36,987			656,889
	Tech Data Corp. (a)		2,394			83,622
						2,508,561
	Energy Equipment & Services 2.9%
	Cameron International Corp. (a)		36,403			1,136,866
	Diamond Offshore Drilling, Inc.		18,581			1,669,874
	ENSCO International, Inc.		28,304			1,072,439
	FMC Technologies, Inc. (a)		2,124			92,394
	Halliburton Co.		13,757			303,892
	Helmerich & Payne, Inc.		5,022			172,556
	Nabors Industries, Ltd. (a)		66,029			1,123,814
	NATCO Group, Inc. Class A (a)		47			1,695
	National Oilwell Varco, Inc. (a)		60,476			2,173,507
	Patterson-UTI Energy, Inc.		29,288			404,467
	Pride International, Inc. (a)		12,387			310,542
	Rowan Cos., Inc.		3,755			80,094
	Schlumberger, Ltd.		17,700			946,950
						9,489,090
	Food & Staples Retailing 2.2%
	CVS Caremark Corp.		6,843			229,104
	Sysco Corp.		30,825			732,402
	Wal-Mart Stores, Inc.		110,833			5,528,350
	Whole Foods Market, Inc. (a)		37,539			908,068
						7,397,924
	Food Products 0.9%
	Archer-Daniels-Midland Co.		80,641			2,428,907
	Dean Foods Co. (a)		5,859			124,152
	Kraft Foods, Inc. Class A		4,108			116,421
	Tyson Foods, Inc. Class A		30,131			344,397
						3,013,877
	Gas Utilities 0.1%
	UGI Corp.		10,246			270,904
	Health Care Equipment & Supplies 0.6%
	Beckman Coulter, Inc.		3,015			189,915
	Boston Scientific Corp. (a)		528			5,671
	Medtronic, Inc.		46,170			1,635,341
						1,830,927
	Health Care Providers & Services 3.2%
	Aetna, Inc.		75,843			2,045,486
	CIGNA Corp.		18,143			515,261
	Community Health Systems, Inc. (a)		17,537			496,648
	Coventry Health Care, Inc. (a)		32,131			739,013
	Humana, Inc. (a)		31,494			1,034,578
	Lincare Holdings, Inc. (a)		5,393			141,189
	Medco Health Solutions, Inc. (a)		51,839			2,740,209
	UnitedHealth Group, Inc.		96,868			2,718,116
						10,430,500
	Health Care Technology 0.1%
	Cerner Corp. (a)		3,260			212,161
	Hotels, Restaurants & Leisure 1.0%
	Brinker International, Inc.		2,457			40,884
	Chipotle Mexican Grill, Inc. Class A (a)		3,128			293,500
	Darden Restaurants, Inc.		36,643			1,186,867
	McDonald's Corp.		14,852			817,751
	Panera Bread Co. Class A (a)		2,113			116,130
	Starbucks Corp. (a)		33,211			587,835
	Wyndham Worldwide Corp.		23,786			331,815
						3,374,782
	Household Durables 0.9%
	Centex Corp.		43,352			472,970
	D.R. Horton, Inc.		73,643			853,522
	KB Home		2,523			42,109
	Leggett & Platt, Inc.		41,934			727,555
	Mohawk Industries, Inc. (a)		1,323			68,240
	NVR, Inc. (a)		1,098			660,063
	Toll Brothers, Inc. (a)		6,184			120,959
						2,945,418
	Household Products 1.5%
	Kimberly-Clark Corp.		5,464			319,371
	Procter & Gamble Co. (The)		82,286			4,567,696
						4,887,067
	Industrial Conglomerates 1.2%
	3M Co.		1,061			74,822
	Carlisle Cos., Inc.		1,451			45,460
	General Electric Co.		282,433			3,784,602
						3,904,884
	Insurance 1.8%
	Aon Corp.		25,415			1,002,622
	Chubb Corp. (The)		32,318			1,492,445
	HCC Insurance Holdings, Inc.		21,574			541,507
	Torchmark Corp.		5,567			217,447
	Travelers Cos., Inc. (The)		59,255			2,552,113
	W.R. Berkley Corp.		10,022			232,811
						6,038,945
	Internet & Catalog Retail 0.7%
	Amazon.com, Inc. (a)		13,074			1,121,226
	Expedia, Inc. (a)		14,003			290,002
	Netflix, Inc. (a)		4,965			218,162
	Priceline.com, Inc. (a)		6,395			828,920
						2,458,310
	Internet Software & Services 2.3%
	Akamai Technologies, Inc. (a)		12,529			205,977
	eBay, Inc. (a)		128,087			2,721,849
	Google, Inc. Class A (a)		9,235			4,091,566
	VeriSign, Inc. (a)		21,396			437,334
						7,456,726
	IT Services 2.0%
	Affiliated Computer Services, Inc. Class A (a)		5,868			278,202
	Alliance Data Systems Corp. (a)		11,219			572,169
	Automatic Data Processing, Inc.		3,024			112,644
	Broadridge Financial Solutions LLC		26,799			462,819
	Computer Sciences Corp. (a)		40,492			1,950,500
	DST Systems, Inc. (a)		968			42,911
	Global Payments, Inc.		15,318			647,951
	Hewitt Associates, Inc. Class A (a)		11,906			356,347
	Paychex, Inc.		17,798			471,647
	SAIC, Inc. (a)		19,280			348,775
	Total System Services, Inc.		9,175			134,689
	Western Union Co. (The)		72,279			1,263,437
						6,642,091
	Leisure Equipment & Products 0.1%
	Hasbro, Inc.		8,378			222,017
	Life Sciences Tools & Services 0.0%‡
	Charles River Laboratories International, Inc. (a)		1,571			51,953
	Machinery 1.0%
	Cummins, Inc.		17,098			735,385
	Dover Corp.		31,081			1,057,065
	Harsco Corp.		1,926			52,984
	Joy Global, Inc.		5,631			209,360
	Oshkosh Corp.		3,528			96,844
	Parker Hannifin Corp.		24,027			1,063,915
	SPX Corp.		1,152			60,849
						3,276,402
	Media 3.6%
	Comcast Corp. Class A		214,236			3,183,547
	DIRECTV Group, Inc. (The) (a)		84,317			2,183,810
	Interpublic Group of Cos., Inc. (The) (a)		111,007			578,347
	Marvel Entertainment, Inc. (a)		4,615			182,569
	Omnicom Group, Inc.		50,398			1,713,532
	Time Warner Cable, Inc.		44,440			1,469,186
	Time Warner, Inc.		85,883			2,289,641
	Walt Disney Co. (The)		6,505			163,406
						11,764,038
	Metals & Mining 1.2%
	Allegheny Technologies, Inc.		13,052			353,448
	Cliffs Natural Resources, Inc.		14,112			386,528
	Commercial Metals Co.		8,033			132,866
	Freeport-McMoRan Copper & Gold, Inc. Class B		38,532			2,323,480
	Reliance Steel & Aluminum Co.		12,183			410,689
	Steel Dynamics, Inc.		18,679			305,588
						3,912,599
	Multi-Utilities 0.0%‡
	Public Service Enterprise Group, Inc.		2,075			67,334
	Multiline Retail 2.1%
	Dollar Tree, Inc. (a)		14,485			668,048
	Family Dollar Stores, Inc.		23,407			735,448
	J.C. Penney Co., Inc.		45,260			1,364,589
	Kohl's Corp. (a)		30,720			1,491,456
	Macy's, Inc.		112,400			1,563,484
	Nordstrom, Inc.		1,690			44,684
	Sears Holdings Corp. (a)		9,053			600,576
	Target Corp.		7,579			330,596
						6,798,881
	Oil, Gas & Consumable Fuels 10.6%
	Apache Corp.		32,442			2,723,506
	Chevron Corp.		55,288			3,840,857
	Comstock Resources, Inc. (a)		3,300			127,050
	ConocoPhillips		47,029			2,055,638
	Devon Energy Corp.		10,872			631,554
	Encore Acquisition Co. (a)		3,693			131,471
	EOG Resources, Inc.		8,053			596,164
¤	ExxonMobil Corp.		209,346			14,735,865
	Frontier Oil Corp.		4,971			69,097
	Hess Corp.		10,320			569,664
	Marathon Oil Corp.		39,790			1,283,227
	Murphy Oil Corp.		35,121			2,044,042
	Newfield Exploration Co. (a)		3,144			123,654
	Occidental Petroleum Corp.		29,004			2,069,145
	Peabody Energy Corp.		25,779			853,543
	Southwestern Energy Co. (a)		8,570			355,055
	Tesoro Corp.		36,986			484,147
	Williams Cos., Inc.		27,235			454,552
	XTO Energy, Inc.		45,438			1,827,971
						34,976,202
	Paper & Forest Products 0.3%
	International Paper Co.		47,561			894,622
	Pharmaceuticals 7.5%
	Abbott Laboratories		50,817			2,286,257
	Bristol-Myers Squibb Co.		583			12,674
	Eli Lilly & Co.		75,080			2,619,541
	Endo Pharmaceuticals Holdings, Inc. (a)		11,198			235,270
	Forest Laboratories, Inc. (a)		75,878			1,959,929
¤	Johnson & Johnson		114,823			6,991,572
	King Pharmaceuticals, Inc. (a)		66,037			598,956
	Merck & Co., Inc.		22,656			679,907
	Mylan, Inc. (a)		20,614			271,899
¤	Pfizer, Inc.		360,529			5,743,227
	Schering-Plough Corp.		45,658			1,210,394
	Sepracor, Inc. (a)		7,750			134,462
	Valeant Pharmaceuticals International (a)		1,946			50,207
	Watson Pharmaceuticals, Inc. (a)		7,088			246,166
	Wyeth		32,184			1,498,165
						24,538,626
	Professional Services 0.5%
	Manpower, Inc.		14,950			716,852
	Robert Half International, Inc.		40,629			1,007,193
						1,724,045
	Real Estate Investment Trusts 0.4%
	Public Storage		20,152			1,462,431
	Semiconductors & Semiconductor Equipment 2.2%
	Broadcom Corp. Class A (a)		37,040			1,045,639
	Cree, Inc. (a)		106			3,398
	Intel Corp.		120,299			2,315,756
	MEMC Electronic Materials, Inc. (a)		15,757			277,638
	Micron Technology, Inc. (a)		28,053			179,259
	Novellus Systems, Inc. (a)		26,049			509,779
	Texas Instruments, Inc.		122,285			2,940,954
						7,272,423
	Software 4.1%
	Autodesk, Inc. (a)		7,515			163,902
	BMC Software, Inc. (a)		12,488			424,967
	CA, Inc.		50,693			1,071,650
	Compuware Corp. (a)		32,305			236,796
	McAfee, Inc. (a)		522			23,271
¤	Microsoft Corp.		362,639			8,529,269
	Oracle Corp.		69,616			1,540,602
	Sybase, Inc. (a)		15,827			566,606
	Symantec Corp. (a)		31,636			472,325
	Synopsys, Inc. (a)		18,965			378,921
						13,408,309
	Specialty Retail 4.0%
	Abercrombie & Fitch Co. Class A		17,464			499,296
	Advance Auto Parts, Inc.		18,125			837,919
	Aeropostale, Inc. (a)		6,338			230,703
	American Eagle Outfitters, Inc.		1,660			23,887
	AutoNation, Inc. (a)		28,839			596,391
	AutoZone, Inc. (a)		3,270			502,174
	Best Buy Co., Inc.		33,916			1,267,441
	Foot Locker, Inc.		18,696			207,152
	GameStop Corp. Class A (a)		5,436			118,994
	Gap, Inc. (The)		42,729			697,337
	Home Depot, Inc. (The)		112,299			2,913,036
	Limited Brands, Inc.		72,222			934,553
	Office Depot, Inc. (a)		45,848			208,608
	PetSmart, Inc.		15,023			336,064
	RadioShack Corp.		33,454			518,872
	Ross Stores, Inc.		24,459			1,078,397
	Sherwin-Williams Co. (The)		23,060			1,331,715
	Staples, Inc.		38,412			807,420
						13,109,959
	Textiles, Apparel & Luxury Goods 0.5%
	Coach, Inc.		18,047			534,011
	Polo Ralph Lauren Corp.		15,099			951,992
						1,486,003
	Tobacco 1.5%
	Altria Group, Inc.		37,348			654,711
	Philip Morris International, Inc.		91,544			4,265,950
						4,920,661
	Trading Companies & Distributors 0.1%
	MSC Industrial Direct Co.		3,246			127,373
	W.W. Grainger, Inc.		2,070			186,114
						313,487
	Wireless Telecommunication Services 0.6%
	Sprint Nextel Corp. (a)		423,161			1,692,644
	Telephone and Data Systems, Inc.		15,018			386,563
						2,079,207
	Total Common Stocks (Cost $326,575,149)					327,636,659
	Exchange Traded Fund 0.2% (b)
	S&P 500 Index - SPDR Trust Series 1		6,689			660,940
	Total Exchange Traded Fund (Cost $655,575)					660,940
		Principal  Amount			Value
	Short-Term Investment 0.1%
	Repurchase Agreement 0.1%
	State Street Bank and Trust Co. 0.02%, dated 7/31/09 due 8/3/09 Proceeds at Maturity $504,656 (Collateralized by a United States Treasury Bill with a rate of 0.089% and a maturity date of 9/10/09, with a Principal Amount of $515,000 and a Market Value of $514,949)	$	504,655			504,655
	Total Short-Term Investment (Cost $504,655)					504,655
	Total Investments (Cost $327,735,379) (c)		99.9	%		328,802,254
	Cash and Other Assets,
	Less Liabilities		0.1			170,810
	Net Assets		100.0	%	$	328,973,064

¤	Among the Fund's 10 largest holdings, as of July 31, 2009, excluding short-term investment.  May be subject to change daily.
†	Percentages indicated are based on Fund net assets.
‡	Less than one-tenth of a percent.
(a)	Non-income producing security.
(b)	Exchange Traded Fund - represents a basket of securities that is traded on an exchange.
(c)	At July 31, 2009, cost is $335,798,592 for federal income tax purposes and net unrealized depreciation is as follows:

Gross unrealized appreciation	$	20,372,808
Gross unrealized depreciation		(27,369,146	)
Net unrealized depreciation	$	(6,996,338	)

The following is a list of the inputs used as of July 31, 2009 for valuing the Fund’s assets.

Asset Valuation Inputs

Description		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Common Stocks
Aerospace & Defense	$	7,301,341	$	—	$	—	$	7,301,341
Air Freight & Logistics		4,218,835		—		—		4,218,835
Auto Components		636,337		—		—		636,337
Automobiles		520,416		—		—		520,416
Beverages		6,805,859		—		—		6,805,859
Biotechnology		6,366,751		—		—		6,366,751
Capital Markets		13,300,056		—		—		13,300,056
Chemicals		2,915,367		—		—		2,915,367
Commercial Banks		2,777,638		—		—		2,777,638
Commercial Services & Supplies		2,174,661		—		—		2,174,661
Communications Equipment		11,014,750		—		—		11,014,750
Computers & Peripherals		29,393,854		—		—		29,393,854
Construction & Engineering		1,769,436		—		—		1,769,436
Consumer Finance		1,184,626		—		—		1,184,626
Diversified Consumer Services		1,452,533		—		—		1,452,533
Diversified Financial Services		10,818,492		—		—		10,818,492
Diversified Telecommunication Services		13,382,128		—		—		13,382,128
Electric Utilities		3,662,976		—		—		3,662,976
Electrical Equipment		2,799,237		—		—		2,799,237
Electronic Equipment & Instruments		2,508,561		—		—		2,508,561
Energy Equipment & Services		9,489,090		—		—		9,489,090
Food & Staples Retailing		7,397,924		—		—		7,397,924
Food Products		3,013,877		—		—		3,013,877
Gas Utilities		270,904		—		—		270,904
Health Care Equipment & Supplies		1,830,927		—		—		1,830,927
Health Care Providers & Services		10,430,500		—		—		10,430,500
Health Care Technology		212,161		—		—		212,161
Hotels, Restaurants & Leisure		3,374,782		—		—		3,374,782
Household Durables		2,945,418		—		—		2,945,418
Household Products		4,887,067		—		—		4,887,067
Industrial Conglomerates		3,904,884		—		—		3,904,884
Insurance		6,038,945		—		—		6,038,945
Internet & Catalog Retail		2,458,310		—		—		2,458,310
Internet Software & Services		7,456,726		—		—		7,456,726
IT Services		6,642,091		—		—		6,642,091
Leisure Equipment & Products		222,017		—		—		222,017
Life Sciences Tools & Services		51,953		—		—		51,953
Machinery		3,276,402		—		—		3,276,402
Media		11,764,038		—		—		11,764,038
Metals & Mining		3,912,599		—		—		3,912,599
Multi-Utilities		67,334		—		—		67,334
Multiline Retail		6,798,881		—		—		6,798,881
Oil, Gas & Consumable Fuels		34,976,202		—		—		34,976,202
Paper & Forest Products		894,622		—		—		894,622
Pharmaceuticals		24,538,626		—		—		24,538,626
Professional Services		1,724,045		—		—		1,724,045
Real Estate Investment Trusts		1,462,431		—		—		1,462,431
Semiconductors & Semiconductor Equipment		7,272,423		—		—		7,272,423
Software		13,408,309		—		—		13,408,309
Specialty Retail		13,109,959		—		—		13,109,959
Textiles, Apparel & Luxury Goods		1,486,003		—		—		1,486,003
Tobacco		4,920,661		—		—		4,920,661
Trading Companies & Distributors		313,487		—		—		313,487
Wireless Telecommunication Services		2,079,207		—		—		2,079,207
Total Common Stocks		327,636,659		—		—		327,636,659
Exchange Traded Fund		660,940		—		—		660,940
Short-Term Investment
Repurchase Agreement		—		504,655		—		504,655
Total Short-Term Investment		—		504,655		—		504,655
Total	$	328,297,599	$	504,655	$	—	$	328,802,254

At July 31, 2009, the Fund did not hold any investments with significant unobservable inputs (Level 3).

MainStay Convertible Fund

Portfolio of Investments  July 31, 2009 unaudited

		Principal Amount		Value
	Convertible Securities 81.7%†
	Convertible Bonds 71.2%
	Aerospace & Defense 2.5%
	L-3 Communications Corp.
	3.00%, due 8/1/35 (a)	$	6,455,000	$	6,503,413
	3.00%, due 8/1/35		516,000		519,870
	Triumph Group, Inc. 2.625%, due 10/1/26		7,273,000		7,063,901
					14,087,184
	Airlines 1.5%
	JetBlue Airways Corp. 3.75%, due 3/15/35		5,138,000		5,048,085
	UAL Corp. 4.50%, due 6/30/21		9,289,000		3,645,932
					8,694,017
	Auto Parts & Equipment 0.2%
	ArvinMeritor, Inc.
	4.00%, due 2/15/27		139,000		80,968
	4.00%, due 2/15/27 (zero coupon), beginning 2/15/19 (a)		1,732,000		1,008,890
					1,089,858
	Biotechnology 3.3%
	Amgen, Inc.
	0.125%, due 2/1/11 (a)		1,337,000		1,337,000
	0.125%, due 2/1/11		6,067,000		6,067,000
	Enzon Pharmaceuticals, Inc. 4.00%, due 6/1/13		8,485,000		8,421,362
	Gilead Sciences, Inc. 0.625%, due 5/1/13		2,251,000		3,038,850
					18,864,212
	Coal 2.3%
	Alpha Natural Resources, Inc. 2.375%, due 4/15/15		5,952,000		5,341,920
	Patriot Coal Corp. 3.25%, due 5/31/13 (a)		4,398,000		2,770,740
	Peabody Energy Corp. 4.75%, due 12/15/66		6,268,000		4,959,555
					13,072,215
	Commercial Services 2.0%
	Alliance Data Systems Corp. 1.75%, due 8/1/13 (a)		6,494,000		5,528,017
	Kendle International, Inc. 3.375%, due 7/15/12		3,334,000		2,642,195
	Sotheby's 3.125%, due 6/15/13		4,040,000		3,368,350
					11,538,562
	Computers 2.3%
¤	EMC Corp.
	1.75%, due 12/1/11 (a)		1,461,000		1,654,582
	1.75%, due 12/1/11		8,288,000		9,386,160
	Mentor Graphics Corp. 6.25%, due 3/1/26		2,529,000		2,222,359
					13,263,101
	Distribution & Wholesale 1.1%
	WESCO International, Inc. 1.75%, due 11/15/26		6,401,000		6,256,978
	Diversified Financial Services 1.7%
	NASDAQ OMX Group, Inc. (The) 2.50%, due 8/15/13		11,110,000		9,443,500
	Electrical Components & Equipment 1.1%
	General Cable Corp. 0.875%, due 11/15/13		6,226,000		6,062,568
	Electronics 5.0%
¤	Fisher Scientific International, Inc. 3.25%, due 3/1/24		9,643,000		12,306,879
	Itron, Inc. 2.50%, due 8/1/26		3,855,000		4,134,487
	L-1 Identity Solutions, Inc. 3.75%, due 5/15/27		4,506,000		3,925,853
	Merix Corp. 4.00%, due 5/15/13		5,231,000		2,334,334
	TTM Technologies, Inc. 3.25%, due 5/15/15		6,115,000		5,427,062
					28,128,615
	Energy - Alternate Sources 2.4%
¤	Covanta Holding Corp. 1.00%, due 2/1/27		15,110,000		13,391,237
	Entertainment 1.2%
	Lions Gate Entertainment Corp.
	2.938%, due 10/15/24		2,595,000		2,234,944
	3.625%, due 3/15/25		5,967,000		4,848,187
					7,083,131
	Environmental Controls 1.0%
	Waste Connections, Inc. 3.75%, due 4/1/26		5,459,000		5,697,831
	Food 2.2%
	Great Atlantic & Pacific Tea Co.
	5.125%, due 6/15/11		1,814,000		1,727,835
	6.75%, due 12/15/12		7,164,000		6,196,860
	Spartan Stores, Inc.
	3.375%, due 5/15/27		462,000		326,865
	3.375%, due 5/15/27 (a)		5,749,000		4,067,417
					12,318,977
	Health Care - Products 3.9%
	China Medical Technologies, Inc. 4.00%, due 8/15/13		3,114,000		2,012,423
	Conmed Corp. 2.50%, due 11/15/24		5,092,000		4,544,610
¤	Medtronic, Inc.
	1.625%, due 4/15/13 (a)		2,230,000		2,160,312
	1.625%, due 4/15/13		13,741,000		13,311,594
					22,028,939
	Home Builders 0.5%
	DR Horton, Inc. 2.00%, due 5/15/14		2,550,000		2,865,563
	Internet 0.9%
	At Home Corp. 4.75%, due 12/31/49 (b)(c)(d)(e)		9,147,056		915
	VeriSign, Inc. 3.25%, due 8/15/37		6,962,000		5,325,930
					5,326,845
	Iron & Steel 3.0%
	Allegheny Technologies 4.25%, due 6/1/14		5,298,000		5,443,695
	ArcelorMittal 5.00%, due 5/15/14		3,942,000		5,469,525
	United States Steel Corp. 4.00%, due 5/15/14		4,015,000		5,826,769
					16,739,989
	Media 0.8%
	Central European Media Enterprises, Ltd. 3.50%, due 3/15/13 (a)		6,351,000		4,699,740
	Mining 0.7%
	Alcoa, Inc. 5.25%, due 3/15/14		1,856,000		3,691,120
	Miscellaneous - Manufacturing 1.5%
	Eastman Kodak Co. 3.375%, due 10/15/33		5,771,000		5,049,625
	Ingersoll-Rand Co. 4.50%, due 4/15/12		2,103,000		3,643,447
					8,693,072
	Oil & Gas 5.9%
¤	Chesapeake Energy Corp. 2.50%, due 5/15/37		18,115,000		13,925,906
	St. Mary Land & Exploration Co. 3.50%, due 4/1/27		5,229,000		4,634,201
¤	Transocean, Inc. Series C 1.50%, due 12/15/37		15,967,000		14,669,682
					33,229,789
	Oil & Gas Services 6.2%
	Cameron International Corp. 2.50%, due 6/15/26		8,455,000		9,998,037
	Core Laboratories, L.P. 0.25%, due 10/31/11		3,870,000		4,048,988
¤	Schlumberger, Ltd. Series B 2.125%, due 6/1/23		14,340,000		21,079,800
					35,126,825
	Pharmaceuticals 4.7%
	BioMarin Pharmaceutical, Inc. 1.875%, due 4/23/17		9,753,000		9,326,306
¤	Teva Pharmaceutical Finance Co. B.V. Series D 1.75%, due 2/1/26		14,407,000		17,396,453
					26,722,759
	Real Estate Investment Trusts 0.5%
	Macerich Co. (The) 3.25%, due 3/15/12 (a)		3,563,000		2,868,215
	Semiconductors 3.9%
	Intel Corp. 3.25%, due 8/1/39 (a)		3,032,000		3,066,110
	Microchip Technology, Inc. 2.125%, due 12/15/37		3,899,000		3,611,449
	Micron Technology, Inc. 4.25%, due 10/15/13		3,182,000		4,586,057
	ON Semiconductor Corp. 2.625%, due 12/15/26		5,166,000		4,907,700
	Teradyne, Inc. 4.50%, due 3/15/14		1,358,000		2,227,120
	Verigy, Ltd. 5.25%, due 7/15/14 (a)		3,111,000		3,803,198
					22,201,634
	Software 2.6%
¤	Sybase, Inc. 3.50%, due 8/15/29 (a)		10,860,000		11,348,700
	SYNNEX Corp. 4.00%, due 5/15/18 (a)		2,993,000		3,404,537
					14,753,237
	Telecommunications 6.3%
	Anixter International, Inc. 1.00%, due 2/15/13		8,293,000		6,924,655
	CommScope, Inc. 3.25%, due 7/1/15		4,480,000		5,191,200
	Comtech Telecommunications Corp. 3.00%, due 5/1/29 (a)		2,860,000		3,038,750
	NII Holdings, Inc. 3.125%, due 6/15/12		7,261,000		6,090,164
	SBA Communications Corp. 1.875%, due 5/1/13 (a)		8,226,000		7,321,140
	Virgin Media, Inc. 6.50%, due 11/15/16 (a)		8,295,000		7,247,756
					35,813,665
	Total Convertible Bonds (Cost $404,726,792)				403,753,378

		Shares		Value
	Convertible Preferred Stocks 10.5%
	Banks 3.8%
¤	Bank of America Corp. 7.25%  Series L		17,308		14,538,720
	Wells Fargo & Co. 7.50%  Series L		8,350		7,013,666
					21,552,386
	Chemicals 1.0%
	Celanese Corp. 4.25%		168,710		5,567,430
	Leisure Time 0.4%
	Callaway Golf Co. 7.50%  (a)		20,400		2,254,200
	Mining 1.3%
	Freeport-McMoRan Copper & Gold, Inc. 6.75%		40,375		3,724,190
	Vale Capital, Ltd. 5.50%		95,500		3,947,970
					7,672,160
	Oil & Gas 0.3%
	Whiting Petroleum Corp. 6.25%		15,800		1,932,024
	Pharmaceuticals 1.8%
	Schering-Plough Corp. 6.00%		43,300		10,099,292
	Savings & Loans 0.5%
	Vale Capital II 6.75%		43,200		2,627,424
	Telecommunications 1.4%
	Crown Castle International Corp. 6.25%		150,000		7,800,000
	Total Convertible Preferred Stocks (Cost $62,815,497)				59,504,916
	Total Convertible Securities (Cost $467,542,289)				463,258,294
	Common Stocks 8.5%
	Cosmetics & Personal Care 0.7%
	Procter & Gamble Co. (The)		71,700		3,980,067
	Diversified Financial Services 1.7%
	Citigroup, Inc.		2,697,202		8,550,130
	Morgan Stanley		34,800		991,800
					9,541,930
	Engineering & Construction 0.3%
	McDermott International, Inc. (f)		84,100		1,643,314
	Health Care - Products 0.5%
	Boston Scientific Corp. (f)		284,600		3,056,604
	Oil & Gas 1.2%
	Forest Oil Corp. (f)		83,100		1,400,235
	Frontier Oil Corp.		187,700		2,609,030
	Transocean, Inc. (f)		35,100		2,797,119
					6,806,384
	Oil & Gas Services 1.9%
	Baker Hughes, Inc.		124,900		5,058,450
	Gulf Island Fabrication, Inc.		16,900		245,050
	Halliburton Co.		195,626		4,321,378
	ION Geophysical Corp. (f)		371,100		998,259
					10,623,137
	Retail 0.7%
	Costco Wholesale Corp.		77,203		3,821,549
	Semiconductors 0.2%
	Intel Corp.		78,900		1,518,825
	Software 0.8%
	Microsoft Corp.		191,600		4,506,432
	Transportation 0.5%
	Tidewater, Inc.		65,800		2,961,000
	Total Common Stocks (Cost $66,085,475)				48,459,242

	Principal Amount			Value
Short-Term Investment 9.0%
Repurchase Agreement 9.0%
State Street Bank and Trust Co. 0.02%, dated 7/31/09 due 8/3/09 Proceeds at Maturity $50,785,043 (Collateralized by a United States Treasury Bill with a rate 0.239% and a maturity date of 12/31/09, with a Principal Amount of $51,855,000 and a Market Value of $51,803,145)	$	50,784,959			50,784,959
Total Short-Term Investment (Cost $50,784,959)					50,784,959
Total Investments (Cost $584,412,723) (g)		99.2	%		562,502,495
Cash and Other Assets,
Less Liabilities		0.8			4,486,008
Net Assets		100.0	%	$	566,988,503

¤	Among the Fund's 10 largest holdings or issuers held, as of July 31, 2009, excluding short-term investment.  May be subject to change daily.
†	Percentages indicated are based on Fund net assets.
(a)	May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(2) of the Securities Act of 1933, as amended.
(b)	Issue in default.
(c)	Fair valued security. The total market value of this security at July 31, 2009 is $915, which represents less than one-tenth of a percent of the Fund's net assets.
(d)	Restricted security.
(e)	Illiquid security.  The total market value of this security at July 31, 2009 is $915, which represents less than one-tenth of a percent of the Fund's net assets.
(f)	Non-income producing security.
(g)	At July 31, 2009, cost is $586,001,666 for federal income tax purposes and net unrealized depreciation is as follows:

Gross unrealized appreciation	$	40,895,687
Gross unrealized depreciation		(64,394,858	)
Net unrealized depreciation	$	(23,499,171	)

The following is a list of the inputs used as of July 31, 2009 for valuing the Fund’s assets.

Asset Valuation Inputs

Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Convertible Securities
Convertible Bonds	$	—	$	403,752,463	$	915	$	403,753,378
Convertible Preferred Stocks
Banks		21,552,386		—		—		21,552,386
Chemicals		5,567,430		—		—		5,567,430
Leisure Time		2,254,200		—		—		2,254,200
Mining		7,672,160		—		—		7,672,160
Oil & Gas		1,932,024		—		—		1,932,024
Pharmaceuticals		10,099,292		—		—		10,099,292
Savings & Loans		2,627,424		—		—		2,627,424
Telecommunications		7,800,000		—		—		7,800,000
Total Convertible Preferred Stocks		59,504,916		—		—		59,504,916
Total Convertible Securities		59,504,916		403,752,463		915		463,258,294
Common Stocks
Cosmetics & Personal Care		3,980,067		—		—		3,980,067
Diversified Financial Services		9,541,930		—		—		9,541,930
Engineering & Construction		1,643,314		—		—		1,643,314
Health Care - Products		3,056,604		—		—		3,056,604
Oil & Gas		6,806,384		—		—		6,806,384
Oil & Gas Services		10,623,137		—		—		10,623,137
Retail		3,821,549		—		—		3,821,549
Semiconductors		1,518,825		—		—		1,518,825
Software		4,506,432		—		—		4,506,432
Transportation		2,961,000		—		—		2,961,000
Total Common Stocks		48,459,242		—		—		48,459,242
Short-Term Investment
Repurchase Agreement		—		50,784,959		—		50,784,959
Total Short-Term Investment		—		50,784,959		—		50,784,959
Total	$	107,964,158	$	454,537,422	$	915	$	562,502,495

Following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value:

Investments in Securities	Balance as of October 31, 2008		Accrued Discounts (Premiums)		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Net Purchases		Net Sales		Net Transfers in to Level 3		Net Transfers out of Level 3		Balance as of July 31, 2009		Change in Unrealized Appreciation (Depreciation) from Investments Still Held at July 31, 2009
Convertible Bonds
	$	915	$	0	$	0	$	0	$	0	$	0	$	0	$	0	$	915	$	0
Total	$	915	$	0	$	0	$	0	$	0	$	0	$	0	$	0	$	915	$	0

As of July 31, 2009, the Fund held the following restricted security:

Security	Date of Acquisition	Principal Amount		Cost		7/31/09 Value		Percentage of Net Assets
At Home Corp.
Convertible Bond 4.75%, due 12/31/49	7/25/01	$	9,147,056	$	674,023	$	915		0.0	%‡

‡ Less than one-tenth of a percent.

MainStay Diversified Income Fund
Portfolio of Investments ††† July 31, 2009 unaudited
		Principal Amount		Value
	Long-Term Bonds 92.8%†
	Asset-Backed Securities 0.8%
	Automobile 0.1%
	Superior Wholesale Inventory Financing Trust Series 2007-AE1, Class A 0.388%, due 1/15/12 (a)	$	50,000	$	48,842
	Credit Cards 0.3%
	Citibank Credit Card Issuance Trust Series 2006-C4, Class C4 0.521%, due 1/9/12 (a)		140,000		137,640
	MBNA Credit Card Master Note Trust
	Series 2005-A3, Class A3 4.10%, due 10/15/12		115,000		117,071
	Series 2005-A6, Class A6 4.50%, due 1/15/13		50,000		51,232
					305,943
	Diversified Financial Services 0.1%
	Dunkin Securitization Series 2006-1, Class A2 5.779%, due 6/20/31 (b)		110,000		103,920
	USXL Funding LLC Series 2006-1A, Class A 5.379%, due 4/15/14 (b)(c)		23,400		22,082
					126,002
	Home Equity 0.2%
	Citicorp Residential Mortgage Securities, Inc.
	Series 2006-3, Class A3 5.61%, due 11/25/36 (d)		100,000		94,680
	Series 2006-1, Class A3 5.706%, due 7/25/36 (d)		120,000		113,360
					208,040
	Utilities 0.1%
	Atlantic City Electric Transition Funding LLC Series 2002-1, Class A4 5.55%, due 10/20/23		75,000		77,971
	Total Asset-Backed Securities (Cost $781,854)				766,798
	Convertible Bonds 3.5%
	Aerospace & Defense 0.1%
	Triumph Group, Inc. 2.625%, due 10/1/26		59,000		57,304
	Airlines 0.0%‡
	JetBlue Airways Corp. 3.75%, due 3/15/35		46,000		45,195
	Biotechnology 0.1%
	Enzon Pharmaceuticals, Inc. 4.00%, due 6/1/13		59,000		58,558
	Gilead Sciences, Inc. 0.625%, due 5/1/13		19,000		25,650
					84,208
	Coal 0.1%
	Alpha Natural Resources, Inc. 2.375%, due 4/15/15		48,000		43,080
	Peabody Energy Corp. 4.75%, due 12/15/66		51,000		40,354
					83,434
	Commercial Services 0.1%
	Alliance Data Systems Corp. 1.75%, due 8/1/13 (b)		53,000		45,116
	Sotheby's 3.125%, due 6/15/13		37,000		30,849
					75,965
	Computers 0.2%
	EMC Corp. 1.75%, due 12/1/11		121,000		137,033
	Mentor Graphics Corp. 6.25%, due 3/1/26		20,000		17,575
					154,608
	Distribution & Wholesale 0.1%
	WESCO International, Inc. 1.75%, due 11/15/26		58,000		56,695
	Diversified Financial Services 0.2%
	NASDAQ OMX Group, Inc. (The) 2.50%, due 8/15/13		184,000		156,400
	Electrical Components & Equipment 0.1%
	General Cable Corp. 0.875%, due 11/15/13		56,000		54,530
	Electronics 0.2%
	Fisher Scientific International, Inc. 3.25%, due 3/1/24		82,000		104,652
	Itron, Inc. 2.50%, due 8/1/26		34,000		36,465
	TTM Technologies, Inc. 3.25%, due 5/15/15		54,000		47,925
					189,042
	Energy - Alternate Sources 0.1%
	Covanta Holding Corp. 1.00%, due 2/1/27		167,000		148,004
	Entertainment 0.0%‡
	Lions Gate Entertainment Corp.
	2.938%, due 10/15/24		23,000		19,809
	3.625%, due 3/15/25		17,000		13,812
					33,621
	Environmental Controls 0.1%
	Waste Connections, Inc. 3.75%, due 4/1/26		63,000		65,756
	Food 0.2%
	Great Atlantic & Pacific Tea Co. 6.75%, due 12/15/12		62,000		53,630
	Spartan Stores, Inc.
	3.375%, due 5/15/27 (b)		118,000		83,485
	3.375%, due 5/15/27		40,000		28,300
					165,415
	Health Care - Products 0.3%
	Medtronic, Inc. 1.625%, due 4/15/13		331,000		320,656
	Home Builders 0.0%‡
	DR Horton, Inc. 2.00%, due 5/15/14		21,000		23,599
	Internet 0.0%‡
	At Home Corp. 4.75%, due 12/31/49 (c)(e)(f)(g)		504,238		50
	Iron & Steel 0.1%
	Allegheny Technologies 4.25%, due 6/1/14		35,000		35,962
	ArcelorMittal 5.00%, due 5/15/14		36,000		49,950
	United States Steel Corp. 4.00%, due 5/15/14		31,000		44,989
					130,901
	Media 0.0%‡
	Central European Media Enterprises, Ltd. 3.50%, due 3/15/13 (b)		35,000		25,900
	Mining 0.0%‡
	Alcoa, Inc. 5.25%, due 3/15/14		18,000		35,798
	Miscellaneous - Manufacturing 0.1%
	Eastman Kodak Co. 3.375%, due 10/15/33		51,000		44,625
	Ingersoll-Rand Co. 4.50%, due 4/15/12		10,000		17,325
					61,950
	Oil & Gas 0.4%
	Chesapeake Energy Corp. 2.50%, due 5/15/37		165,000		126,844
	St. Mary Land & Exploration Co. 3.50%, due 4/1/27		53,000		46,971
	Transocean, Inc.
	Series C 1.50%, due 12/15/37		154,000		141,487
	Series A 1.625%, due 12/15/37		44,000		42,790
					358,092
	Oil & Gas Services 0.2%
	Cameron International Corp. 2.50%, due 6/15/26		34,000		40,205
	Schlumberger, Ltd. Series B 2.125%, due 6/1/23		120,000		176,400
					216,605
	Pharmaceuticals 0.2%
	Teva Pharmaceutical Finance Co. B.V. Series D 1.75%, due 2/1/26		149,000		179,917
	Real Estate Investment Trusts 0.2%
	Host Hotels & Resorts, L.P. 3.25%, due 4/15/24 (b)		90,000		88,425
	Macerich Co. (The) 3.25%, due 3/15/12 (b)		31,000		24,955
	Vornado Realty Trust 3.625%, due 11/15/26		85,000		80,006
					193,386
	Retail 0.1%
	Penske Auto Group, Inc. 3.50%, due 4/1/26		95,000		100,463
	Semiconductors 0.1%
	Micron Technology, Inc. 4.25%, due 10/15/13		25,000		36,031
	ON Semiconductor Corp. 2.625%, due 12/15/26		37,000		35,150
	Teradyne, Inc. 4.50%, due 3/15/14		13,000		21,320
					92,501
	Software 0.1%
	Sybase, Inc. 3.50%, due 8/15/29 (b)		114,000		119,130
	SYNNEX Corp. 4.00%, due 5/15/18 (b)		25,000		28,438
					147,568
	Telecommunications 0.1%
	Anixter International, Inc. 1.00%, due 2/15/13		46,000		38,410
	CommScope, Inc. 3.25%, due 7/1/15		24,000		27,810
	SBA Communications Corp. 1.875%, due 5/1/13 (b)		78,000		69,420
					135,640
	Total Convertible Bonds (Cost $3,614,794)				3,393,203

Corporate Bonds 26.3%
Advertising 0.4%
Interpublic Group of Cos., Inc. 6.25%, due 11/15/14	135,000	122,850
Lamar Media Corp.
6.625%, due 8/15/15	250,000	220,000
9.75%, due 4/1/14 (b)	60,000	63,150
		406,000
Aerospace & Defense 0.1%
BE Aerospace, Inc. 8.50%, due 7/1/18	70,000	69,650
Agriculture 0.7%
Altria Group, Inc. 9.70%, due 11/10/18	295,000	358,723
Cargill, Inc.
4.375%, due 6/1/13 (b)	85,000	85,805
5.60%, due 9/15/12 (b)	90,000	95,690
Reynolds American, Inc.
7.625%, due 6/1/16	65,000	67,506
7.75%, due 6/1/18	55,000	57,489
		665,213
Airlines 0.1%
DAE Aviation Holdings, Inc. 11.25%, due 8/1/15 (b)	110,000	64,900
Delta Air Lines, Inc. (Escrow Shares)
2.875%, due 2/6/24 (f)(h)	55,000	415
2.875%, due 2/18/49 (b)(f)(h)	30,000	226
8.00%, due 6/3/49 (f)(h)	81,000	612
8.30%, due 12/15/29 (f)(h)	505,000	3,080
9.75%, due 5/15/49 (f)(h)	5,000	31
10.00%, due 8/15/49 (f)(h)	35,000	213
10.375%, due 12/15/22 (f)(h)	10,000	61
Northwest Airlines, Inc. (Escrow Shares)
7.625%, due 11/15/23 (f)(h)	117,700	453
7.875%, due 12/31/49 (f)(h)	25,000	53
8.70%, due 3/15/49 (f)(h)	5,000	11
8.875%, due 6/1/49 (f)(h)	30,000	63
9.875%, due 3/15/37 (f)(h)	65,000	137
10.00%, due 2/1/49 (f)(h)	168,300	353
		70,608
Apparel 0.1%
Unifi, Inc. 11.50%, due 5/15/14	91,000	71,890
Auto Manufacturers 0.2%
Daimler Finance North America LLC 7.30%, due 1/15/12	200,000	214,206
Auto Parts & Equipment 0.7%
Allison Transmission, Inc. 11.00%, due 11/1/15 (b)	80,000	72,800
American Tire Distributors, Inc.
6.847%, due 4/1/12 (a)	70,000	53,200
10.75%, due 4/1/13	80,000	66,400
FleetPride Corp. 11.50%, due 10/1/14 (b)	235,000	207,094
Goodyear Tire & Rubber Co. (The)
5.01%, due 12/1/09 (a)	55,000	54,794
8.625%, due 12/1/11	65,000	65,812
10.50%, due 5/15/16	105,000	112,612
Johnson Controls, Inc. 7.70%, due 3/1/15	75,000	78,468
		711,180
Banks 0.7%
Citigroup, Inc.
8.125%, due 7/15/39	200,000	201,458
8.50%, due 5/22/19	45,000	47,912
GMAC LLC 8.00%, due 11/1/31 (b)	507,000	387,855
		637,225
Building Materials 0.3%
Building Materials Corp. of America 7.75%, due 8/1/14	70,000	64,488
Compression Polymers Corp. 10.50%, due 7/1/13	55,000	39,050
Texas Industries, Inc. 7.25%, due 7/15/13 (b)	245,000	225,400
		328,938
Chemicals 1.4%
Chevron Phillips Chemica 7.00%, due 6/15/14 (b)	95,000	100,952
Dow Chemical Co. (The) 8.55%, due 5/15/19	430,000	471,751
Mosaic Global Holdings, Inc. 7.625%, due 12/1/16 (b)	40,000	42,581
Nalco Co. 8.25%, due 5/15/17 (b)	55,000	57,200
Phibro Animal Health Corp. 10.00%, due 8/1/13 (b)	70,000	63,525
Rohm & Haas Co. 7.85%, due 7/15/29	500,000	461,371
Tronox Worldwide LLC/Tronox Finance Corp. 9.50%, due 12/1/12 (f)	230,000	37,950
Westlake Chemical Corp. 6.625%, due 1/15/16	105,000	96,600
		1,331,930
Coal 0.1%
Peabody Energy Corp.
7.375%, due 11/1/16	70,000	70,350
7.875%, due 11/1/26	60,000	55,200
		125,550
Commercial Services 0.6%
Cardtronics, Inc. 9.25%, due 8/15/13	65,000	61,100
Great Lakes Dredge & Dock Corp. 7.75%, due 12/15/13	100,000	87,000
iPayment, Inc. 9.75%, due 5/15/14	180,000	105,300
Language Line, Inc. 11.125%, due 6/15/12	125,000	126,250
Lender Processing Services, Inc. 8.125%, due 7/1/16	85,000	85,850
Service Corp. International 7.625%, due 10/1/18	90,000	86,175
		551,675
Computers 0.3%
SunGard Data Systems, Inc.
4.875%, due 1/15/14	40,000	36,300
10.625%, due 5/15/15 (b)	210,000	224,700
		261,000
Distribution & Wholesale 0.1%
ACE Hardware Corp. 9.125%, due 6/1/16 (b)	110,000	110,550
Diversified Financial Services 1.4%
AmeriCredit Corp. 8.50%, due 7/1/15	160,000	153,600
Harley-Davidson Funding Corp.
5.25%, due 12/15/12 (b)	300,000	290,487
6.80%, due 6/15/18 (b)	580,000	546,805
Janus Capital Group, Inc. 6.95%, due 6/15/17	90,000	80,413
LaBranche & Co., Inc. 11.00%, due 5/15/12	75,000	69,187
Morgan Stanley 6.00%, due 4/28/15	220,000	227,755
		1,368,247
Electric 1.1%
AES Eastern Energy, L.P. Series 1999-A 9.00%, due 1/2/17	282,605	265,649
Energy Future Holdings Corp. 10.875%, due 11/1/17	180,000	156,150
NRG Energy, Inc.
7.25%, due 2/1/14	70,000	68,775
7.375%, due 2/1/16	120,000	116,100
PNM Resources, Inc. 9.25%, due 5/15/15	75,000	72,750
Reliant Energy Mid-Atlantic Power Holdings LLC Series C 9.681%, due 7/2/26	145,000	142,100
Reliant Energy, Inc.
7.625%, due 6/15/14	35,000	32,550
7.875%, due 6/15/17	210,000	193,725
		1,047,799
Electrical Components & Equipment 0.1%
Belden, Inc. 7.00%, due 3/15/17	90,000	79,200
Entertainment 1.2%
Chukchansi Economic Development Authority 8.00%, due 11/15/13 (b)	45,000	33,750
Isle of Capri Casinos, Inc. 7.00%, due 3/1/14	112,000	98,560
Jacobs Entertainment, Inc. 9.75%, due 6/15/14	115,000	98,613
Mohegan Tribal Gaming Authority 6.875%, due 2/15/15	10,000	6,900
OED Corp./DIAMOND JO LLC 8.75%, due 4/15/12	65,000	66,950
Peninsula Gaming LLC 8.375%, due 8/15/15 (b)	155,000	155,000
Penn National Gaming, Inc.
6.75%, due 3/1/15	110,000	103,400
6.875%, due 12/1/11	135,000	132,637
Pinnacle Entertainment, Inc.
8.25%, due 3/15/12	90,000	90,000
8.75%, due 10/1/13	25,000	25,750
Speedway Motorsports, Inc. 6.75%, due 6/1/13	290,000	281,300
United Artists Theatre Circuit, Inc. Series BA7 9.30%, due 7/1/15 (c)(e)	65,831	39,498
Vail Resorts, Inc. 6.75%, due 2/15/14	45,000	42,975
		1,175,333
Environmental Controls 0.2%
Geo Sub Corp. 11.00%, due 5/15/12	260,000	208,650
Finance - Auto Loans 0.4%
Ford Motor Credit Co. LLC
7.25%, due 10/25/11	230,000	215,964
7.375%, due 10/28/09	145,000	144,734
7.875%, due 6/15/10	5,000	4,927
		365,625
Finance - Other Services 0.5%
American Real Estate Partners, L.P./American Real Estate Finance Corp. 8.125%, due 6/1/12	530,000	503,500
Food 0.2%
American Stores Co. 8.00%, due 6/1/26	55,000	49,156
ASG Consolidated LLC/ASG Finance, Inc. 11.50%, due 11/1/11	95,000	87,400
Tyson Foods, Inc. 10.50%, due 3/1/14 (b)	80,000	88,800
		225,356
Forest Products & Paper 0.6%
Bowater, Inc. 9.375%, due 12/15/21 (f)	195,000	32,175
Domtar Corp. 7.875%, due 10/15/11	170,000	170,850
Georgia-Pacific Corp.
7.00%, due 1/15/15 (b)	110,000	106,700
7.125%, due 1/15/17 (b)	102,000	99,450
8.00%, due 1/15/24	68,000	60,690
8.875%, due 5/15/31	160,000	152,000
		621,865
Hand & Machine Tools 0.0%‡
Thermadyne Holdings Corp. 10.00%, due 2/1/14	65,000	43,225
Health Care - Products 0.6%
Biomet, Inc.
10.00%, due 10/15/17	60,000	64,950
11.625%, due 10/15/17	95,000	103,075
Hanger Orthopedic Group, Inc. 10.25%, due 6/1/14	165,000	171,600
Invacare Corp. 9.75%, due 2/15/15	175,000	178,500
ReAble Therapeutics Finance LLC/ReAble Therapeutics Finance Corp. 11.75%, due 11/15/14	45,000	37,575
		555,700
Health Care - Services 1.2%
Alliance Imaging, Inc.
7.25%, due 12/15/12	100,000	97,000
Series B 7.25%, due 12/15/12	125,000	121,250
Community Health Systems, Inc. 8.875%, due 7/15/15	180,000	185,400
HCA, Inc.
5.75%, due 3/15/14	30,000	26,400
6.30%, due 10/1/12	305,000	286,700
6.375%, due 1/15/15	35,000	30,975
9.00%, due 12/15/14	10,000	9,350
Highmark, Inc. 6.80%, due 8/15/13 (b)(c)	245,000	238,835
Skilled Healthcare Group, Inc. 11.00%, due 1/15/14	52,000	53,560
Sun Healthcare Group, Inc. 9.125%, due 4/15/15	50,000	50,500
Vanguard Health Holding Co. II LLC 9.00%, due 10/1/14	75,000	75,000
		1,174,970
Holding Company - Diversified 0.3%
Leucadia National Corp. 8.125%, due 9/15/15	190,000	182,875
Susser Holdings LLC/Susser Finance Corp. 10.625%, due 12/15/13	130,000	131,300
		314,175
Household Products & Wares 0.1%
Jarden Corp. 7.50%, due 5/1/17	75,000	72,000
Libbey Glass, Inc. 8.26%, due 6/1/11 (a)	80,000	58,400
		130,400
Insurance 0.7%
Crum & Forster Holdings Corp. 7.75%, due 5/1/17	290,000	254,475
HUB International Holdings, Inc. 9.00%, due 12/15/14 (b)	195,000	168,675
Lumbermens Mutual Casualty Co.
8.45%, due 12/1/97 (b)(f)(h)	35,000	394
9.15%, due 7/1/26 (b)(f)	535,000	6,019
Phoenix Life Insurance Co. 7.15%, due 12/15/34 (b)	95,000	26,288
USI Holdings Corp.
4.758%, due 11/15/14 (a)(b)	35,000	24,500
9.75%, due 5/15/15 (b)	95,000	69,825
Willis North America, Inc. 6.20%, due 3/28/17	105,000	93,467
		643,643
Internet 0.1%
Expedia, Inc.
7.456%, due 8/15/18	10,000	9,950
8.50%, due 7/1/16 (b)	125,000	126,875
		136,825
Iron & Steel 0.2%
Allegheny Ludlum Corp. 6.95%, due 12/15/25	20,000	16,790
Allegheny Technologies, Inc. 8.375%, due 12/15/11	185,000	195,728
		212,518
Lodging 0.4%
Boyd Gaming Corp. 7.75%, due 12/15/12	125,000	121,563
Gaylord Entertainment Co. 8.00%, due 11/15/13	60,000	54,000
MTR Gaming Group, Inc. Series B 9.00%, due 6/1/12	50,000	36,750
Sheraton Holding Corp. 7.375%, due 11/15/15	85,000	80,325
Starwood Hotels & Resorts Worldwide, Inc. 7.875%, due 5/1/12	70,000	70,000
		362,638
Machinery - Construction & Mining 0.1%
Caterpillar, Inc. 6.05%, due 8/15/36	70,000	71,504
Media 1.8%
Charter Communications Operating LLC
8.00%, due 4/30/12 (b)	185,000	184,538
8.375%, due 4/30/14 (b)	80,000	79,800
CSC Holdings, Inc. 6.75%, due 4/15/12	75,000	74,625
CW Media Holdings, Inc. 13.50%, due 8/15/15 (b)(i)	45,000	39,825
HSN, Inc. 11.25%, due 8/1/16	130,000	131,625
ION Media Networks, Inc. 9.041%, due 1/15/13 (a)(b)(f)(i)	62,751	2,510
Morris Publishing Group LLC 7.00%, due 8/1/13 (f)(h)	220,000	15,400
Rainbow National Services LLC
8.75%, due 9/1/12 (b)	90,000	90,900
10.375%, due 9/1/14 (b)	145,000	151,525
Shaw Communications, Inc. 7.50%, due 11/20/13	225,000	237,494
Time Warner Cable, Inc. 8.25%, due 2/14/14	140,000	162,462
Time Warner Entertainment Co., L.P. 10.15%, due 5/1/12	415,000	487,055
Vertis, Inc. 18.50%, due 10/1/12 (i)	70,478	13,391
Ziff Davis Media, Inc. 8.788%, due 7/15/11 (a)(c)(e)	38,084	14,472
		1,685,622
Metal Fabricate & Hardware 0.1%
Mueller Water Products, Inc. 7.375%, due 6/1/17	80,000	58,600
Neenah Foundary Co. 9.50%, due 1/1/17	150,000	48,000
		106,600
Mining 0.3%
Freeport-McMoRan Copper & Gold, Inc.
4.995%, due 4/1/15 (a)	110,000	105,805
8.25%, due 4/1/15	55,000	58,162
8.375%, due 4/1/17	90,000	95,400
		259,367
Miscellaneous - Manufacturing 0.3%
Actuant Corp. 6.875%, due 6/15/17	85,000	77,669
Polypore, Inc. 8.75%, due 5/15/12	95,000	88,350
RBS Global, Inc./Rexnord Corp. 9.50%, due 8/1/14	165,000	143,550
		309,569
Office Equipment/Supplies 0.2%
Xerox Corp. 8.25%, due 5/15/14	160,000	174,331
Oil & Gas 2.7%
Anadarko Petroleum Corp. 5.95%, due 9/15/16	200,000	207,794
Chaparral Energy, Inc. 8.50%, due 12/1/15	300,000	186,000
Chesapeake Energy Corp. 6.875%, due 11/15/20	25,000	22,125
Forest Oil Corp. 8.00%, due 12/15/11	200,000	204,000
Frontier Oil Corp. 8.50%, due 9/15/16	100,000	102,250
Hilcorp Energy I, L.P./Hilcorp Finance Co. 9.00%, due 6/1/16 (b)	100,000	92,000
Kerr-McGee Corp.
6.95%, due 7/1/24	65,000	65,595
7.875%, due 9/15/31	30,000	32,784
Linn Energy LLC
9.875%, due 7/1/18	100,000	94,000
11.75%, due 5/15/17 (b)	60,000	60,600
Mariner Energy, Inc. 7.50%, due 4/15/13	95,000	90,250
Newfield Exploration Co.
6.625%, due 9/1/14	15,000	14,475
6.625%, due 4/15/16	15,000	14,475
7.125%, due 5/15/18	115,000	111,838
Parker Drilling Co. 9.625%, due 10/1/13	80,000	77,600
Pemex Project Funding Master Trust 5.75%, due 3/1/18	320,000	315,200
PetroHawk Energy Corp.
9.125%, due 7/15/13	70,000	72,625
10.50%, due 8/1/14 (b)	10,000	10,700
Petroquest Energy, Inc. 10.375%, due 5/15/12	125,000	110,000
Plains Exploration & Production Co. 10.00%, due 3/1/16	110,000	118,938
Range Resources Corp. 8.00%, due 5/15/19	70,000	71,225
Regency Energy Partners/Regency Energy Finance Corp. 8.375%, due 12/15/13	50,000	50,250
SandRidge Energy, Inc. 8.00%, due 6/1/18 (b)	70,000	63,700
Stone Energy Corp. 6.75%, due 12/15/14	100,000	65,000
Venoco, Inc. 8.75%, due 12/15/11	1,000	980
Whiting Petroleum Corp. 7.00%, due 2/1/14	300,000	294,000
		2,548,404

Oil & Gas Services 0.2%
Allis-Chalmers Energy, Inc.
8.50%, due 3/1/17	35,000	22,925
9.00%, due 1/15/14	44,000	32,010
Complete Production Services, Inc. 8.00%, due 12/15/16	180,000	153,900
		208,835
Packaging & Containers 0.2%
Owens-Brockway Glass Container, Inc. 7.375%, due 5/15/16 (b)	140,000	138,600
Silgan Holdings, Inc. 7.25%, due 8/15/16 (b)	55,000	55,000
		193,600
Pharmaceuticals 0.6%
Catalent Pharma Solutions, Inc. 10.25%, due 4/15/15 (i)	145,000	92,075
Medco Health Solutions, Inc. 7.25%, due 8/15/13	240,000	264,898
NBTY, Inc. 7.125%, due 10/1/15	60,000	57,600
Pfizer, Inc. 7.20%, due 3/15/39	50,000	62,785
Warner Chilcott Corp. 8.75%, due 2/1/15	110,000	110,000
		587,358
Pipelines 0.7%
ANR Pipeline Co. 9.625%, due 11/1/21	45,000	60,687
Copano Energy LLC 8.125%, due 3/1/16	115,000	112,125
Copano Energy LLC/Copano Energy Finance Corp. 7.75%, due 6/1/18	55,000	51,700
El Paso Natural Gas Co.
7.50%, due 11/15/26	25,000	26,712
7.625%, due 8/1/10	205,000	204,264
MarkWest Energy Partners, L.P./MarkWest Energy Finance Corp.
Series B 6.875%, due 11/1/14	145,000	129,050
8.50%, due 7/15/16	40,000	37,000
8.75%, due 4/15/18	70,000	65,100
		686,638
Real Estate Investment Trusts 0.5%
Host Hotels & Resorts, L.P. 6.875%, due 11/1/14	115,000	109,250
Host Marriott, L.P.
6.375%, due 3/15/15	40,000	37,000
Series M 7.00%, due 8/15/12	40,000	39,600
Omega Healthcare Investors, Inc. 7.00%, due 4/1/14	125,000	117,813
Trustreet Properties, Inc. 7.50%, due 4/1/15	180,000	184,954
		488,617
Retail 0.7%
AutoNation, Inc. 2.509%, due 4/15/13 (a)	60,000	54,150
CVS Caremark Corp. 5.789%, due 1/10/26 (b)(e)	93,509	83,653
Home Depot, Inc. 5.40%, due 3/1/16	60,000	61,857
Rite Aid Corp.
8.625%, due 3/1/15	151,000	114,005
9.375%, due 12/15/15	50,000	38,000
9.50%, due 6/15/17	90,000	68,175
Star Gas Partners, L.P./Star Gas Finance Co. Series B 10.25%, due 2/15/13	171,000	171,000
TJX Cos., Inc. 6.95%, due 4/15/19	40,000	46,408
Wendy's International, Inc. 6.25%, due 11/15/11	25,000	24,937
		662,185
Software 0.2%
SS&C Technologies, Inc. 11.75%, due 12/1/13	145,000	149,350
Telecommunications 1.9%
Alcatel-Lucent USA, Inc. 6.45%, due 3/15/29	360,000	234,000
CC Holdings GS V LLC/Crown Castle GS III Corp. 7.75%, due 5/1/17 (b)	230,000	234,600
Centennial Cellular Operating Co./Centennial Communications Corp. 10.125%, due 6/15/13	170,000	173,825
Centennial Communications Corp./Cellular Operating Co. LLC/Puerto Rico Operations 8.125%, due 2/1/14	25,000	25,062
DigitalGlobe, Inc. 10.50%, due 5/1/14 (b)	65,000	67,762
GCI, Inc. 7.25%, due 2/15/14	135,000	125,550
New Cingular Wireless Services, Inc. 8.75%, due 3/1/31	150,000	195,845
PAETEC Holding Corp. 9.50%, due 7/15/15	5,000	4,325
Qwest Communications International, Inc. 7.25%, due 2/15/11	190,000	189,050
Qwest Corp.
7.50%, due 10/1/14	180,000	179,550
7.50%, due 6/15/23	195,000	164,775
8.875%, due 3/15/12	100,000	103,750
Sprint Nextel Corp. 6.00%, due 12/1/16	45,000	39,319
Verizon Wireless Capital LLC 7.375%, due 11/15/13 (b)	100,000	115,011
		1,852,424
Textiles 0.4%
INVISTA 9.25%, due 5/1/12 (b)	355,000	340,800
Transportation 0.2%
KAR Holdings, Inc.
8.75%, due 5/1/14	10,000	9,250
10.00%, due 5/1/15	190,000	167,200
		176,450
Trucking & Leasing 0.1%
Greenbrier Cos., Inc. 8.375%, due 5/15/15	70,000	51,100
Total Corporate Bonds (Cost $26,418,939)		25,278,038

	Foreign Government Bonds 29.5%
	Argentina 0.8%
	Republic of Argentina 2.50%, due 12/31/38		3,000,000	784,500
	Australia 1.8%
¤	Australia Government Bond 6.25%, due 6/15/14	A$	2,005,000	1,735,673
	Austria 1.0%
	Republic of Austria 4.65%, due 1/15/18	€	643,000	984,744
	Brazil 2.3%
	Brazil Notas do Tesouro Nacional Series F 10.00%, due 1/1/14	B$	2,790,000	1,400,406
	Federal Republic of Brazil
	7.125%, due 1/20/37	$	200,000	220,200
	8.25%, due 1/20/34		500,000	608,750
				2,229,356
	Colombia 0.4%
	Republic of Colombia 8.125%, due 5/21/24		300,000	333,150
	El Salvador 0.4%
	Republic of El Salvador
	7.65%, due 6/15/35		200,000	176,000
	8.25%, due 4/10/32 (b)		200,000	188,000
				364,000
	Germany 5.0%
¤	Republic of Germany
	3.75%, due 1/4/17		2,135,000	3,190,996
	4.25%, due 7/4/14		1,015,000	1,566,073
				4,757,069
	Greece 1.9%
¤	Hellenic Republic 4.50%, due 5/20/14	€	1,200,000	1,809,132
	Indonesia 2.7%
¤	Republic of Indonesia
	10.375%, due 5/4/14 (b)	$	1,250,000	1,487,500
	11.625%, due 3/4/19 (b)		850,000	1,143,250
				2,630,750
	Lebanon 0.3%
	Republic of Lebanon 8.25%, due 4/12/21		275,000	286,688
	Mexico 1.8%
	United Mexican States 7.25%, due 12/15/16	M$	23,075,000	1,702,718
	Panama 1.1%
	Republic of Panama
	6.70%, due 1/26/36	$	243,000	244,823
	8.875%, due 9/30/27		325,000	398,125
	9.375%, due 4/1/29		350,000	441,000
				1,083,948
	Peru 1.8%
¤	Republic of Peru
	6.55%, due 3/14/37		300,000	295,500
	7.35%, due 7/21/25		800,000	865,200
	8.75%, due 11/21/33		500,000	611,250
				1,771,950
	Philippines 0.3%
	Republic of Philippines 9.50%, due 2/2/30		250,000	311,875
	Poland 1.4%
	Poland Government Bond
	5.25%, due 4/25/13	z†	570,000	195,469
	6.375%, due 7/15/19	$	1,100,000	1,139,380
				1,334,849
	Russia 0.3%
	Russian Federation 7.50%, due 3/31/30		288,000	291,168
	South Africa 0.5%
	Republic of South Africa 6.875%, due 5/27/19		400,000	437,000
	Turkey 0.9%
	Republic of Turkey
	(zero coupon), due 1/13/10 (h)	YTL	234,000	153,125
	7.375%, due 2/5/25		470,000	484,687
	7.50%, due 7/14/17	$	200,000	211,750
				849,562
	Ukraine 0.3%
	Ukraine Government
	6.875%, due 3/4/11 (b)		175,000	156,625
	7.65%, due 6/11/13 (b)		200,000	165,000
				321,625
	United Kingdom 3.7%
	Gaz Capital S.A. 4.56%, due 12/9/12	€	500,000	690,436
	Independent News & Media Finance, Ltd. 5.75%, due 8/27/09 (f)		300,000	128,277
¤	United Kingdom Gilt 4.50%, due 3/7/19	£	1,525,000	2,688,183
				3,506,896
	Uruguay 0.5%
	Republic of Uruguay 9.25%, due 5/17/17	$	450,000	518,625
	Venezuela 0.3%
	Republic of Venezuela 9.25%, due 5/7/28		475,000	304,000
	Total Foreign Government Bonds (Cost $26,046,974)			28,349,278
	Loan Assignments & Participations 2.2% (j)
	Aerospace & Defense 0.1%
	DAE Aviation Holdings, Inc.
	Tranche B1 Term Loan 4.24%, due 7/31/14		47,479	38,458
	Tranche B2 Term Loan 4.24%, due 7/31/14		46,567	37,720
				76,178
	Automobile 0.2%
	Ford Motor Co. Term Loan (zero coupon), due 12/16/13		170,000	144,122
	Broadcasting 0.4%
	Charter Communications Operating LLC Replacement Term Loan 6.25%, due 3/6/14		99,495	92,854
	Nielsen Finance LLC Class A Term Loan 2.30%, due 8/9/13		299,355	277,745
				370,599
	Healthcare, Education & Childcare 0.8%
	Capella Healthcare, Inc. 1st Lien Term Loan 5.75%, due 3/2/15		98,750	95,540
	Community Health Systems, Inc. Term Loan 2.896%, due 7/25/14		180,466	169,262
	HCA, Inc. Term Loan B 2.848%, due 11/18/13		343,984	322,523
	Talecris Biotherapeutics, Inc. 2nd Lien Term Loan 7.42%, due 12/6/14		220,000	209,000
				796,325
	Machinery 0.0%‡
	BHM Technologies LLC Exit Term Loan B 8.50%, due 11/26/10 (c)(e)		111,051	18,046
	Retail Store 0.1%
	Toys 'R' Us (Delaware), Inc. Term Loan 5.286%, due 1/19/13		145,000	119,625
	Utilities 0.6%
	Calpine Corp. First Priority Term Loan 3.475%, due 3/29/14		339,825	311,789
	TXU Corp.
	Term Loan B2 3.802%, due 10/10/14		225,975	174,095
	Term Loan B3 3.802%, due 10/10/14		98,250	75,361
				561,245
	Total Loan Assignments & Participations (Cost $2,452,072)			2,086,140

Mortgage-Backed Securities 0.4%
Commercial Mortgage Loans (Collateralized Mortgage Obligations) 0.4%
Banc of America Commercial Mortgage, Inc. Series 2005-5, Class A2 5.001%, due 10/10/45	253,654	253,950
Bayview Commercial Asset Trust Series 2006-4A, Class A1 0.515%, due 12/25/36 (a)(b)(c)	81,532	48,104
LB-UBS Commercial Mortgage Trust Series 2004-C2, Class A2 3.246%, due 3/15/29	79,988	79,542
Timberstar Trust Series 2006-1, Class A 5.668%, due 10/15/36 (b)(e)	40,000	34,809
Total Mortgage-Backed Securities (Cost $454,555)		416,405
Municipal Bonds 0.4%
Ohio 0.2%
Buckeye, Ohio, Tobacco Settlement Financing Authority 5.75%, due 6/1/34	250,000	161,627
Texas 0.1%
Harris County Texas Industrial Development Corp. Solid Waste Deer Park 5.683%, due 3/1/23 (a)	120,000	119,999
West Virginia 0.1%
Tobacco Settlement Finance Authority of West Virginia 7.467%, due 6/1/47	100,000	68,450
Total Municipal Bonds (Cost $462,637)		350,076

	U.S. Government & Federal Agencies 13.4%
	Fannie Mae (Collateralized Mortgage Obligation) 0.1%
	Series 2006-B1, Class AB 6.00%, due 6/25/16	82,339	85,177
	Federal Home Loan Mortgage Corporation (Mortgage Pass-Through Securities) 0.3%
	3.00%, due 8/1/10	43,357	43,573
	4.30%, due 3/1/35 (a)	67,656	70,125
	5.039%, due 6/1/35 (a)	152,662	158,828
			272,526
¤	Federal National Mortgage Association 2.8%
	4.625%, due 5/1/13	1,135,000	1,184,296
	5.125%, due 1/2/14	150,000	156,539
	6.25%, due 2/1/11	1,260,000	1,334,310
			2,675,145
¤	Federal National Mortgage Association (Mortgage Pass-Through Securities) 1.8%
	5.50%, due 10/1/38	1,500,855	1,560,208
	6.00%, due 9/1/34	69,392	73,199
	6.00%, due 9/1/35	70,247	74,248
			1,707,655
	Freddie Mac (Collateralized Mortgage Obligation) 0.1%
	Series 2632, Class NH 3.50%, due 6/15/13	119,142	121,100
¤	Government National Mortgage Association (Mortgage Pass-Through Securities) 2.9%
	6.00%, due 8/15/32	2	2
	6.00%, due 11/1/35 TBA (k)	1,420,000	1,486,563
	6.50%, due 7/1/33  TBA (k)	1,240,000	1,319,050
			2,805,615
	Overseas Private Investment Corporation 1.3%
	5.142%, due 12/15/23	1,125,716	1,220,975
	United States Treasury Bond 0.5%
	3.50%, due 2/15/39	570,000	492,605
¤	United States Treasury Notes 2.5%
	1.875%, due 6/15/12	1,550,000	1,563,686
	2.25%, due 5/31/14	165,000	163,182
	3.125%, due 5/15/19	260,000	251,956
	4.75%, due 8/15/17	80,000	88,056
	4.875%, due 8/15/16	270,000	299,742
			2,366,622
	United States Treasury Inflation Indexed Note 1.1%
	2.625%, due 7/15/17	1,031,750	1,101,393
	Total U.S. Government & Federal Agencies (Cost $12,407,032)		12,848,813
	Yankee Bonds 16.3% (l)
	Advertising 1.4%
	AES El Salvador Trust 6.75%, due 2/1/16 (b)	200,000	154,068
	Cia de Saneamento Basico do Estado de Sao Paulo 7.50%, due 11/3/16 (b)	215,000	223,600
	Independencia International, Ltd. 9.875%, due 1/31/17 (f)	100,000	11,000
	Majapahit Holding B.V. 7.25%, due 6/28/17 (b)	100,000	94,500
	National Power Corp. 6.875%, due 11/2/16 (b)	200,000	200,000
	Odebrecht Finance, Ltd. 7.50%, due 10/18/17 (b)	250,000	255,312
	UBS Luxembourg S.A. for OJSC Vimpel Communications Series Reg S 8.25%, due 5/23/16 (b)	300,000	269,625
	Ultrapetrol Bahamas, Ltd. 9.00%, due 11/24/14	100,000	84,500
	Virgin Media Finance PLC 9.125%, due 8/15/16	65,000	65,650
			1,358,255
	Banks 1.4%
	Industrial Bank of Korea 7.125%, due 4/23/14 (b)	300,000	319,862
	Kookmin Bank 7.25%, due 5/14/14 (b)	500,000	536,488
	RSHB Capital S.A. for OJSC Russian Agricultural Bank
	6.97%, due 9/21/16	100,000	93,500
	9.00%, due 6/11/14 (b)	200,000	213,140
	Woori Bank 7.00%, due 2/2/15 (b)	200,000	209,000
			1,371,990
	Beverages 0.1%
	Coca-Cola HBC Finance B.V. 5.125%, due 9/17/13	50,000	50,859
	Building Materials 0.6%
	Asia Aluminum Holdings, Ltd. 8.00%, due 12/23/11 (b)(f)	500,000	73,750
	Corporativo Javer S.A. de CV 13.00%, due 8/4/14 (b)	500,000	493,125
			566,875
	Chemicals 0.1%
	Nova Chemicals Corp. 4.538%, due 11/15/13 (a)	65,000	58,175
	Coal 0.2%
	Raspadskaya Securities, Ltd. 7.50%, due 5/22/12	260,000	238,394
	Commercial Services 0.0%‡
	Quebecor World, Inc.
	8.75%, due 3/15/16 (b)(f)	5,000	450
	9.75%, due 1/15/15 (b)(f)	160,000	14,400
			14,850
	Electric 1.6%
	Abu Dhabi National Energy Co. 7.25%, due 8/1/18 (b)	225,000	230,041
	AES China Generating Co., Ltd. 8.25%, due 6/26/10	227,000	201,953
	Centrais Eletricas Brasileiras S.A. 6.875%, due 7/30/19 (b)	500,000	505,625
	Empresas Publicas de Medellin ESP 7.625%, due 7/29/19 (b)	100,000	103,700
	Intergen N.V. 9.00%, due 6/30/17 (b)	115,000	113,275
	Korea Hydro & Nuclear Power 6.25%, due 6/17/14 (b)	400,000	416,796
			1,571,390
	Electronics 0.1%
	NXP B.V./NXP Funding LLC 7.875%, due 10/15/14	180,000	125,100
	Energy - Alternate Sources 0.1%
	Paiton Energy Funding B.V. 9.34%, due 2/15/14	96,105	92,742
	Entertainment 0.6%
	Galaxy Entertainment Finance Co., Ltd.
	Series Reg S 9.875%, due 12/15/12	500,000	475,000
	9.875%, due 12/15/12 (b)	125,000	118,750
			593,750
	Forest Products & Paper 0.4%
	Catalyst Paper Corp. Series D 8.625%, due 6/15/11	105,000	60,900
	Celulosa Arauco y Constitucion S.A. 7.25%, due 7/29/19 (b)	100,000	103,580
	Smurfit Capital Funding PLC 7.50%, due 11/20/25	300,000	225,000
			389,480
	Health Care - Products 0.3%
	DJO Finance LLC/DJO Finance Corp. 10.875%, due 11/15/14	255,000	240,975
	Insurance 0.2%
	Allied World Assurance Co. Holdings, Ltd. 7.50%, due 8/1/16	130,000	114,395
	Fairfax Financial Holdings, Ltd.
	7.375%, due 4/15/18	10,000	9,337
	7.75%, due 7/15/37	35,000	25,375
	8.30%, due 4/15/26	10,000	7,850
			156,957
	Iron & Steel 0.3%
	ArcelorMittal 9.85%, due 6/1/19	250,000	289,310
	Leisure Time 0.3%
	Royal Caribbean Cruises, Ltd. 8.75%, due 2/2/11	225,000	225,000
	Willis Group Holdings, Ltd. (Trinity Acquisition, Ltd.) 12.875%, due 12/31/16 (b)(c)(e)	85,000	107,946
			332,946
	Media 1.3%
	British Sky Broadcasting Group PLC 9.50%, due 11/15/18 (b)	135,000	168,760
	BSKYB Finance UK PLC 6.50%, due 10/15/35 (b)	95,000	90,766
	CanWest, L.P. 9.25%, due 8/1/15 (b)(f)	120,000	15,600
	Grupo Televisa S.A. 6.00%, due 5/15/18	290,000	280,175
	Quebecor Media, Inc. 7.75%, due 3/15/16	290,000	275,500
	Sun Media Corp. 7.625%, due 2/15/13	210,000	135,450
	Videotron Ltee 6.375%, due 12/15/15	120,000	111,600
	Videotron, Ltee 9.125%, due 4/15/18 (b)	150,000	155,625
			1,233,476
	Mining 0.0%‡
	Rio Tinto Finance USA, Ltd. 9.00%, due 5/1/19	15,000	17,647
	Miscellaneous - Manufacturing 0.4%
	Siemens Financieringsmaatschappij N.V. 5.75%, due 10/17/16 (b)	215,000	229,979
	Tyco Electronics Group S.A.
	5.95%, due 1/15/14	45,000	43,653
	6.00%, due 10/1/12	90,000	90,150
			363,782
	Oil & Gas 3.2%
	Anadarko Finance Co. 7.50%, due 5/1/31	20,000	21,527
	Citic Resources Finance, Ltd. 6.75%, due 5/15/14 (b)	200,000	194,500
	Ecopetrol S.A. 7.625%, due 7/23/19 (b)	200,000	209,000
	Gaz Capital S.A. 8.125%, due 7/31/14 (b)	500,000	505,000
	KazMunaiGaz Finance Sub B.V. 11.75%, due 1/23/15 (b)	500,000	520,000
	Petroleos de Venezuela S.A. 5.25%, due 4/12/17	770,000	372,757
	Petroleos Mexicanos Series Reg S 8.00%, due 5/3/19	200,000	225,500
	Petronas Capital, Ltd. 7.875%, due 5/22/22	425,000	520,393
	Tengizchevroil Finance Co. S.A.R.L. 6.124%, due 11/15/14 (b)	78,591	73,483
	TNK-BP Finance S.A.
	7.50%, due 7/18/16 (b)	215,000	198,338
	7.875%, due 3/13/18 (b)	200,000	182,000
			3,022,498
	Pharmaceuticals 0.1%
	Angiotech Pharmaceuticals, Inc. 4.418%, due 12/1/13 (a)	75,000	59,625
	Savings & Loans 2.3%
	Aries Vermoegensverwaltungs GmbH Series Reg S 9.60%, due 10/25/14	1,000,000	1,240,500
	TDIC Finance, Ltd. 6.50%, due 7/2/14 (b)	750,000	774,065
	TransCapitalInvest, Ltd. for OJSC AK Transneft 8.70%, due 8/7/18 (b)	200,000	200,000
			2,214,565
	Telecommunications 1.3%
	Inmarsat Finance PLC 10.375%, due 11/15/12	250,000	261,250
	Intelsat Holdings, Ltd. 8.875%, due 1/15/15 (b)	15,000	15,150
	Intelsat Subsidiary Holding Co., Ltd.
	8.50%, due 1/15/13	220,000	222,200
	8.875%, due 1/15/15	100,000	101,000
	Millicom International Cellular S.A. 10.00%, due 12/1/13	165,000	171,600
	Nortel Networks, Ltd.
	10.125%, due 7/15/13 (f)	25,000	10,812
	10.75%, due 7/15/16 (f)	250,000	109,375
	Qtel International Finance 7.875%, due 6/10/19 (b)	200,000	217,756
	Telecom Italia Capital S.A. 6.20%, due 7/18/11	140,000	148,354
			1,257,497
	Transportation 0.0%‡
	Kansas City Southern de Mexico S.A. de C.V. 7.375%, due 6/1/14	30,000	26,400
	Total Yankee Bonds (Cost $16,518,971)		15,647,538
	Total Long-Term Bonds (Cost $89,157,828)		89,136,289

	Shares		Value
Common Stocks 0.2%
Airlines 0.0%‡
Delta Air Lines, Inc. (h)		33		229
Diversified Financial Services 0.1%
Citigroup, Inc.		31,776		100,730
Machinery 0.0%‡
BHM Technologies Holdings, Inc. (c)(e)		7,233		72
Media 0.0%‡
Adelphia Contingent Value Vehicle (c)(e)(h)		100,330		1,003
Retail 0.0%‡
Star Gas Partners, L.P.		1,325		4,651
Software 0.1%
Quadramed Corp. (c)(h)		4,714		29,698
Telecommunications 0.0%‡
Loral Space & Communications, Ltd. (h)		1,400		29,302
Total Common Stocks (Cost $213,438)				165,685

Convertible Preferred Stocks 0.9%
Banks 0.3%
Bank of America Corp. 7.25%  Series L	181	152,040
Regions Financial Corp. 10.00%	28	29,647
Wells Fargo & Co. 7.50%  Series L	100	83,996
		265,683
Chemicals 0.1%
Celanese Corp. 4.25%	3,335	110,055
Leisure Time 0.0%‡
Callaway Golf Co. 7.50%  (b)	200	22,100
Mining 0.1%
Freeport-McMoRan Copper & Gold, Inc. 6.75%	510	47,042
Vale Capital, Ltd. 5.50%	1,000	41,340
		88,382
Oil & Gas 0.0%‡
Whiting Petroleum Corp. 6.25%	100	12,228
Pharmaceuticals 0.2%
Schering-Plough Corp. 6.00%	840	195,922
Software 0.1%
QuadraMed Corp. 5.50%  (c)(g)	10,400	142,077
Telecommunications 0.1%
Crown Castle International Corp. 6.25%	1,300	67,600
Total Convertible Preferred Stocks (Cost $1,066,182)		904,047
Preferred Stocks 0.3%
Machinery 0.0%‡
BHM Technologies Holdings, Inc. 10.00% (c)(e)(h)	87	1
Real Estate Investment Trusts 0.3%
Sovereign Real Estate Investment Corp. 12.00% (b)(c)	295	266,237
Total Preferred Stocks (Cost $264,173)		266,238

	Principal Amount			Value
Short-Term Investment 7.5%
Repurchase Agreement 7.5%
State Street Bank and Trust Co. 0.02%, dated 7/31/09 due 8/3/09 Proceeds at Maturity $7,167,106 (Collateralized by a United States Treasury Bill with a rate of 0.199% and a maturity date of 9/24/09, with a Principal Amount of $7,315,000 and a Market Value of $7,312,806)	$	7,167,094			7,167,094
Total Short-Term Investment (Cost $7,167,094)					7,167,094
Total Investments (Cost $97,868,715) (o)		101.7	%		97,639,353
Liabilities in Excess of
Cash and Other Assets		(1.7	)		(1,653,037	)
Net Assets		100.0	%	$	95,986,316

	Contracts Long			Unrealized Appreciation/ Depreciation (m)
Futures Contracts 0.0%‡
United States Treasury Note September 2009 (10 Year) (n)		22		$	28,809
Total Futures Contracts Long (Settlement Value $2,580,188)					28,809
	Contracts Short			Unrealized Appreciation/ Depreciation
United States Treasury Note September 2009 (2 Year) (n)		(42	)		(2,095	)
Total Futures Contracts Short (Settlement Value $9,096,281)					(2,095	)
Total Futures Contracts (Settlement Value $6,516,093)				$	26,714

¤	Among the Fund's 10 largest holdings or issuers held, as of July 31, 2009, excluding short-term investment.  May be subject to change daily.
†††	On a daily basis New York Life Investments confirms that the value of the Fund's liquid assets (liquid portfolio securities and cash) is sufficient to cover its potential senior securities (e.g., futures, swaps, options).
†	Percentages indicated are based on Fund net assets.
‡	Less than one-tenth of a percent.
(a)	Floating rate.  Rate shown is the rate in effect at July 31, 2009.
(b)	May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(2) of the Securities Act of 1933, as amended.
(c)	Illiquid security.  The total market value of these securities at July 31, 2009 is $928,121, which represents 1.0% of the Fund's net assets.
(d)	Subprime mortgage investment and other asset-backed securities. The total market value of the securities at July 31, 2009 is $208,040, which represents 0.2% of the Fund's net assets.
(e)	Fair valued security. The total market value of these securities at July 31, 2009 is $299,550, which represents 0.3% of the Fund's net assets.
(f)	Issue in default.
(g)	Restricted security.
(h)	Non-income producing security.
(i)	PIK ("Payment in Kind") - interest or dividend payment is made with additional securities.
(j)	Floating Rate Loan - generally pays interest at rates which are periodically re-determined at a margin above the London Inter-Bank Offered Rate ("LIBOR") or other short-term rates. The rate shown is the rate(s) in effect at July 31, 2009. Floating Rate Loans are generally considered restrictive in that the Fund is ordinarily contractually obligated to receive consent from the Agent Bank and/or borrower prior to disposition of a Floating Rate Loan.
(k)	TBA: Securities purchased on a forward commitment basis with an approximate principal amount and maturity date. The actual principal amount and maturity date will be determined upon settlement. The market value of these securities at July 31, 2009 is $2,805,613, which represents 2.9% of the Fund's net assets. All or a portion of these securities were acquired under a mortgage dollar roll agreement.
(l)	Yankee Bond - dollar-denominated bond issued in the United States by a foreign bank or corporation.
(m)	Represents the difference between the value of the contracts at the time they were opened and the value at July 31, 2009.
(n)	At July 31, 2009, cash in the amount of $12,720 is segregated as collateral for futures contracts with the broker.
(o)	At July 31, 2009, cost is $98,557,548 for federal income tax purposes and net unrealized depreciation is as follows:

Gross unrealized appreciation	$	5,387,625
Gross unrealized depreciation		(6,305,820	)
Net unrealized depreciation	$	(918,195	)

	The following abbreviations are used in the above portfolio:
£	British Pound Sterling
€	Euro
A$	Australian Dollar
M$	Mexican Peso
B$	Brazilian Real
YTL	Turkish Lira
z†	Polish Zloty

The following is a list of the inputs used as of July 31, 2009 for valuing the Fund’s assets.

Asset Valuation Inputs

Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Long-Term Bonds
Asset-Backed Securities	$	—	$	766,798		—	$	766,798
Convertible Bonds		—		3,393,153		50		3,393,203
Corporate Bonds		—		25,140,415		137,623		25,278,038
Foreign Government Bonds		—		28,349,278		—		28,349,278
Loan Assignments & Participations		—		2,068,094		18,046		2,086,140
Mortgage-Backed Securities		—		381,596		34,809		416,405
Municipal Bonds		—		350,076		—		350,076
U.S. Government & Federal Agencies		—		12,848,813		—		12,848,813
Yankee Bonds		—		15,539,592		107,946		15,647,538
Total Long-Term Bonds		—		88,837,815		298,474		89,136,289
Common Stocks
Airlines		229		—		—		229
Diversified Financial Services		100,730		—		—		100,730
Machinery		—		—		72		72
Media		—		—		1,003		1,003
Retail		4,651		—		—		4,651
Software		29,698		—		—		29,698
Telecommunications		29,302		—		—		29,302
Total Common Stocks		164,610		—		1,075		165,685
Convertible Preferred Stocks
Banks		265,683		—		—		265,683
Chemicals		110,055		—		—		110,055
Leisure Time		—		22,100		—		22,100
Mining		88,382		—		—		88,382
Oil & Gas		12,228		—		—		12,228
Pharmaceuticals		195,922		—		—		195,922
Software		142,077		—		—		142,077
Telecommunications		67,600		—		—		67,600
Total Convertible Preferred Stocks		881,947		22,100		—		904,047
Preferred Stocks
Machinery		—		—		1		1
Real Estate Investment Trusts		—		266,237		—		266,237
Total Preferred Stocks		—		266,237		1		266,238
Short-Term Investment
Repurchase Agreement		—		7,167,094		—		7,167,094
Total Short-Term Investment		—		7,167,094		—		7,167,094
Futures Contracts (a)		28,809		—		—		28,809
Foreign Currency Forward Contracts (a)		—		360,247		—		360,247
Total	$	1,075,366	$	96,653,493	$	299,550	$	98,028,409

(a) The value listed for these securities is the unrealized as shown on the Portfolio of Investments or foreign currency forward contracts.

Liability Valuation Inputs

Description	Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Total
Futures Contracts (a)	$	(2,095	)	$	—		$	—	$	(2,095	)
Foreign Currency Forward Contracts (a)		—			(129,032	)		—		(129,032	)
Total	$	(2,095	)	$	(129,032	)	$	—	$	(131,127	)

(a) The value listed for these securities is the unrealized as shown on the Portfolio of Investments or foreign currency forward contracts.

Following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value:

Investments in Securities	Balance as of October 31, 2008		Accrued Discounts (Premiums)		Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Net Purchases		Net Sales			Net Transfers in to Level 3		Net Transfers out of Level 3			Balance as of July 31, 2009		Change in Unrealized Appreciation (Depreciation) from Investments Still Held atJuly 31, 2009
Long-Term Bonds
Convertible Bonds
Internet
	$	50	$	0	$	0		$	0		$	0	$	0		$	0	$	0		$	50	$	0
Corporate Bonds
Entertainment
		44,108		943		1,325			804			0		(7,682	)		0		0			39,498		804
Diversified Financial Services
		69,272		5		(12,939	)		30,328			0		(86,666	)		0		0			0		0
Media
		38,465		0		5,134			(24,332	)		2,892		(7,687	)		0		0			14,472		(24,332	)
Retail
		0		0		0			(12,612	)		0		0			96,265		0			83,653		(12,612	)
Loan Assignments & Participations
Machinery
		0		0		0			(263,794	)		281,840		0			0		0			18,046		(263,794	)
Mortgage-Backed Securities
Commercial Mortgage Loans
(Collateralized Mortgage Obligations)		36,206		0		0			(1,397	)		0		0			0		0			34,809		(1,397	)
Yankee Bonds
Leisure Time
		0		0		0			22,946			85,000		0			0		0			107,946		22,946
Common Stocks
Advertising
		1		0		(1	)		0			0		0			0		0			0		0
Machinery
		0		0		0			72			0		0			0		0			72		72
Media
		55,365		0		(181,729	)		127,367			0		0			0		0			1,003		127,367
Preferred Stocks
Machinery
		0		0		0			1			0		0			0		0			1		1
Real Estate Investment Trusts
		280,988		0		0			(14,750	)		264,173		(264,173	)		0		(266,238	)		0		0
Warrant
Media
		756		0		(36	)		(720	)		0		0			0		0			0		0
Total	$	525,211	$	948	$	(188,246	)	$	(136,087	)	$	633,905	$	(366,208	)	$	96,265	$	(266,238	)	$	299,550	$	(150,945	)

As of July 31, 2009, the Fund held the following foreign currency forward contracts:

	Counterparty		Contract Amount Purchased		Contract Amount Sold		Unrealized Appreciation/ (Depreciation)
Foreign Currency Buy Contracts:
Australian Dollar vs. U.S. Dollar, expiring 8/13/09	HSBC BankUSA	AUD	350,000	USD	273,700	USD	18,855
Brazilian Real vs. U.S. Dollar, expiring 8/6/09	HSBC BankUSA	BRL	3,500,000		1,788,635		86,538
Colombian Peso vs. U.S. Dollar, expiring 8/10/09	HSBC BankUSA	COP	2,000,000,000		947,867		32,743
Indonesian Rupiah vs. U.S. Dollar, expiring 8/18/09	HSBC BankUSA	IDR	12,000,000,000		1,168,452		37,187
Japanese Yen vs. U.S. Dollar, expiring 8/24/09	JPMorgan Chase Bank	JPY	135,000,000		1,429,176		(2,232)
Norwegian Krone vs. U.S. Dollar, expiring 8/17/09	HSBC BankUSA	NOK	10,800,000		1,653,854		107,537
South African Rand vs. U.S. Dollar, expiring 8/20/09	HSBC BankUSA	ZAR	8,000,000		981,655		45,985
South Korean Won vs. U.S. Dollar, expiring 8/20/09	JPMorgan Chase Bank	KRW	1,000,000,000		791,139		22,958
South Korean Won vs. U.S. Dollar, expiring 8/6/09	HSBC BankUSA	KRW	300,000,000		235,812		8,444

			Contract Amount Sold	Contract Amount Purchased
Foreign Currency Sale Contracts:
Euro vs. U.S. Dollar, expiring 8/13/09	Merrill Lynch	EUR	4,545,000	6,378,030		(100,088)
Mexican Peso vs. U.S. Dollar, expiring 8/10/09	HSBC BankUSA	MXN	13,000,000	956,691		(26,712)
Net unrealized appreciation on foreign currency forward contracts					USD	231,215

As of July 31, 2009, the Fund held the following foreign currencies:

			Currency		Cost		Value
	Australian Dollar	AUD	56,395	USD	45,623	USD	47,166
	Canadian Dollar	CAD	8,437		7,539		7,832
	Euro	EUR	43,138		60,522		61,484
	Pound Sterling	GBP	1		1		1
	Turkish Lira	YTL	6,000		3,799		4,079
Total				USD	117,484	USD	120,562

As of July 31, 2009, the Fund held the following restricted securities:
	Date(s) of	Shares/Principal		7/31/09	Percentage of
Security	Acquisition	Amount/	Cost	Value	Net Assets
At Home Corp.
Convertible Bond	7/25/01	504,238	$      8,348	$               50	0.0	%‡
QuadraMed Corp.
Covertible Preferred Stock	6/16/04	10,400	253,700	142,077	0.1
Total			$  262,048	$      142,127	0.1	%
‡ Less than one-tenth of a percent.

MainStay Equity Index Fund

Portfolio of Investments ††† July 31, 2009 unaudited

		Shares		Value
	Common Stocks 97.7%†
	Aerospace & Defense 2.6%
	Boeing Co. (The)		18,323	$	786,240
	General Dynamics Corp.		9,721		538,446
	Goodrich Corp.		3,102		159,319
	Honeywell International, Inc.		18,708		649,168
	ITT Corp.		4,576		226,054
	L-3 Communications Holdings, Inc.		2,931		221,291
	Lockheed Martin Corp.		8,216		614,228
	Northrop Grumman Corp.		8,240		367,339
	Precision Castparts Corp.		3,514		280,452
	Raytheon Co.		9,911		465,321
	Rockwell Collins, Inc.		3,990		168,378
	United Technologies Corp.		23,766		1,294,534
					5,770,770
	Air Freight & Logistics 1.0%
	C.H. Robinson Worldwide, Inc.		4,264		232,516
	Expeditors International of Washington, Inc.		5,344		181,322
	FedEx Corp.		7,844		532,137
	United Parcel Service, Inc. Class B		25,080		1,347,548
					2,293,523
	Airlines 0.1%
	Southwest Airlines Co.		18,642		146,340
	Auto Components 0.2%
	Goodyear Tire & Rubber Co. (The) (a)		6,414		109,166
	Johnson Controls, Inc.		14,974		387,527
					496,693
	Automobiles 0.4%
	Ford Motor Co. (a)		80,939		647,512
	Harley-Davidson, Inc.		5,868		132,617
					780,129
	Beverages 2.5%
	Brown-Forman Corp.		2,472		108,644
	Coca-Cola Co. (The)		50,143		2,499,127
	Coca-Cola Enterprises, Inc.		7,993		150,188
	Constellation Brands, Inc. Class A (a)		4,906		67,016
	Dr. Pepper Snapple Group, Inc. (a)		6,393		157,332
	Molson Coors Brewing Co.		3,751		169,583
	Pepsi Bottling Group, Inc. (The)		3,406		115,634
	PepsiCo, Inc.		39,187		2,223,862
					5,491,386
	Biotechnology 1.9%
	Amgen, Inc. (a)		25,461		1,586,475
	Biogen Idec, Inc. (a)		7,257		345,070
	Celgene Corp. (a)		11,547		657,717
	Cephalon, Inc. (a)		1,856		108,855
	Genzyme Corp. (a)		6,818		353,786
	Gilead Sciences, Inc. (a)		22,796		1,115,408
					4,167,311
	Building Products 0.1%
	Masco Corp.		9,070		126,345
	Capital Markets 2.9%
	Ameriprise Financial, Inc.		6,409		178,170
	Bank of New York Mellon Corp. (The)		30,066		822,004
	Charles Schwab Corp. (The)		23,582		421,410
	E*TRADE Financial Corp. (a)		25,331		37,997
	Federated Investors, Inc. Class B		2,337		60,598
	Franklin Resources, Inc.		3,812		338,048
	Goldman Sachs Group, Inc. (The)		12,672		2,069,338
	Invesco, Ltd.		10,236		202,161
	Janus Capital Group, Inc.		4,250		58,055
	Legg Mason, Inc.		3,770		106,088
	Morgan Stanley		33,995		968,858
	Northern Trust Corp.		6,017		359,877
	State Street Corp.		12,418		624,625
	T. Rowe Price Group, Inc.		6,512		304,176
					6,551,405
	Chemicals 1.9%
	Air Products & Chemicals, Inc.		5,281		393,963
	CF Industries Holdings, Inc.		1,223		96,544
	Dow Chemical Co. (The)		27,059		572,839
	E.I. du Pont de Nemours & Co.		22,741		703,379
	Eastman Chemical Co.		1,828		90,778
	Ecolab, Inc.		4,225		175,380
	International Flavors & Fragrances, Inc.		1,982		69,885
	Monsanto Co.		13,726		1,152,984
	PPG Industries, Inc.		4,138		227,590
	Praxair, Inc.		7,772		607,615
	Sigma-Aldrich Corp.		3,159		160,319
					4,251,276
	Commercial Banks 2.6%
	BB&T Corp.		16,269		372,235
	Comerica, Inc.		3,793		90,425
	Fifth Third Bancorp		19,992		189,924
	First Horizon National Corp. (a)		5,395		69,164
	Huntington Bancshares, Inc.		13,672		55,918
	KeyCorp		19,703		113,883
	M&T Bank Corp.		2,057		119,964
	Marshall & Ilsley Corp.		8,861		53,520
	PNC Financial Services Group, Inc.		11,576		424,376
	Regions Financial Corp.		29,049		128,397
	SunTrust Banks, Inc.		12,538		244,491
	U.S. Bancorp		47,694		973,435
	Wells Fargo & Co.		117,099		2,864,242
	Zions Bancorp		3,050		41,419
					5,741,393
	Commercial Services & Supplies 0.5%
	Avery Dennison Corp.		2,679		71,610
	Cintas Corp.		3,311		83,371
	Iron Mountain, Inc. (a)		4,523		132,117
	Pitney Bowes, Inc.		5,195		107,277
	R.R. Donnelley & Sons Co.		5,166		71,807
	Republic Services, Inc.		8,091		215,220
	Stericycle, Inc. (a)		2,156		110,387
	Waste Management, Inc.		12,363		347,524
					1,139,313
	Communications Equipment 2.7%
	Ciena Corp. (a)		2,402		26,806
	Cisco Systems, Inc. (a)		145,062		3,192,815
	Harris Corp.		3,392		106,203
	JDS Uniphase Corp. (a)		5,702		33,414
	Juniper Networks, Inc. (a)		13,305		347,660
	Motorola, Inc.		57,116		408,951
	QUALCOMM, Inc.		41,533		1,919,240
	Tellabs, Inc. (a)		10,574		61,329
					6,096,418
	Computers & Peripherals 5.5%
¤	Apple, Inc. (a)		22,424		3,663,857
	Dell, Inc. (a)		43,613		583,542
	EMC Corp. (a)		50,742		764,175
	Hewlett-Packard Co.		60,014		2,598,606
¤	International Business Machines Corp.		33,233		3,919,168
	Lexmark International, Inc. Class A (a)		2,084		30,176
	NetApp, Inc. (a)		8,321		186,890
	QLogic Corp. (a)		3,055		39,868
	SanDisk Corp. (a)		5,984		106,635
	Sun Microsystems, Inc. (a)		18,614		170,690
	Teradata Corp. (a)		4,436		108,993
	Western Digital Corp. (a)		5,606		169,581
					12,342,181
	Construction & Engineering 0.2%
	Fluor Corp.		4,574		241,507
	Jacobs Engineering Group, Inc. (a)		3,096		126,874
	Quanta Services, Inc. (a)		4,907		114,382
					482,763
	Construction Materials 0.1%
	Vulcan Materials Co.		3,065		145,526
	Consumer Finance 0.7%
	American Express Co.		29,864		846,047
	Capital One Financial Corp.		11,276		346,173
	Discover Financial Services		13,470		160,024
	SLM Corp. (a)		11,776		104,689
					1,456,933
	Containers & Packaging 0.2%
	Ball Corp.		2,384		115,290
	Bemis Co., Inc.		2,512		66,116
	Owens-Illinois, Inc. (a)		4,209		142,853
	Pactiv Corp. (a)		3,482		87,677
	Sealed Air Corp.		3,979		73,174
					485,110
	Distributors 0.1%
	Genuine Parts Co.		4,018		142,318
	Diversified Consumer Services 0.2%
	Apollo Group, Inc. Class A (a)		2,685		185,372
	DeVry, Inc.		1,547		76,948
	H&R Block, Inc.		8,542		142,566
					404,886
	Diversified Financial Services 3.8%
	Bank of America Corp.		217,282		3,213,601
	Citigroup, Inc.		137,338		435,362
	CME Group, Inc.		1,669		465,367
	IntercontinentalExchange, Inc. (a)		1,821		171,283
¤	JPMorgan Chase & Co.		98,114		3,792,106
	Leucadia National Corp. (a)		4,461		109,295
	Moody's Corp.		4,895		116,207
	NASDAQ OMX Group, Inc. (The) (a)		3,431		72,497
	NYSE Euronext		6,678		179,972
					8,555,690
	Diversified Telecommunication Services 3.0%
¤	AT&T, Inc.		148,392		3,892,322
	CenturyTel, Inc.		7,431		233,259
	Frontier Communications Corp.		7,846		54,922
	Qwest Communications International, Inc.		36,919		142,508
	Verizon Communications, Inc.		71,585		2,295,731
	Windstream Corp.		11,074		97,119
					6,715,861
	Electric Utilities 2.2%
	Allegheny Energy, Inc.		4,260		107,395
	American Electric Power Co., Inc.		11,991		371,241
	Duke Energy Corp.		32,328		500,437
	Edison International		8,211		265,380
	Entergy Corp.		4,932		396,188
	Exelon Corp.		16,581		843,310
	FirstEnergy Corp.		7,682		316,498
	FPL Group, Inc.		10,301		583,758
	Northeast Utilities		4,350		100,093
	Pepco Holdings, Inc.		5,449		78,357
	Pinnacle West Capital Corp.		2,541		81,210
	PPL Corp.		9,451		319,349
	Progress Energy, Inc.		6,993		275,804
	Southern Co. (The)		19,521		612,959
					4,851,979
	Electrical Equipment 0.4%
	Cooper Industries, Ltd. Class A		4,217		138,950
	Emerson Electric Co.		19,043		692,785
	Rockwell Automation, Inc.		3,566		147,668
					979,403
	Electronic Equipment & Instruments 0.5%
	Agilent Technologies, Inc. (a)		8,821		204,824
	Amphenol Corp. Class A		4,430		147,740
	Corning, Inc.		39,172		665,924
	FLIR Systems, Inc. (a)		3,805		81,769
	Jabil Circuit, Inc.		5,586		51,168
	Molex, Inc.		3,550		63,048
					1,214,473
	Energy Equipment & Services 1.7%
	Baker Hughes, Inc.		7,750		313,875
	BJ Services Co.		7,357		104,322
	Cameron International Corp. (a)		5,532		172,764
	Diamond Offshore Drilling, Inc.		1,752		157,452
	ENSCO International, Inc.		3,574		135,419
	FMC Technologies, Inc. (a)		3,165		137,678
	Halliburton Co.		22,524		497,555
	Nabors Industries, Ltd. (a)		7,172		122,068
	National Oilwell Varco, Inc. (a)		10,517		377,981
	Rowan Cos., Inc.		3,006		64,118
	Schlumberger, Ltd.		30,146		1,612,811
	Smith International, Inc.		5,516		138,617
					3,834,660
	Food & Staples Retailing 2.9%
	Costco Wholesale Corp.		10,879		538,510
	CVS Caremark Corp.		36,773		1,231,160
	Kroger Co. (The)		16,444		351,573
	Safeway, Inc.		10,804		204,520
	SUPERVALU, Inc.		5,337		79,148
	Sysco Corp.		14,868		353,264
	Wal-Mart Stores, Inc.		56,125		2,799,515
	Walgreen Co.		24,947		774,604
	Whole Foods Market, Inc. (a)		3,731		90,253
					6,422,547
	Food Products 1.7%
	Archer-Daniels-Midland Co.		16,166		486,920
	Campbell Soup Co.		5,185		160,891
	ConAgra Foods, Inc.		11,267		221,171
	Dean Foods Co. (a)		4,453		94,359
	General Mills, Inc.		8,269		487,127
	H.J. Heinz Co.		7,924		304,757
	Hershey Co. (The)		4,180		166,991
	Hormel Foods Corp.		1,785		64,099
	J.M. Smucker Co. (The)		2,985		149,340
	Kellogg Co.		6,349		301,577
	Kraft Foods, Inc. Class A		37,025		1,049,288
	McCormick & Co., Inc.		3,276		105,553
	Sara Lee Corp.		17,816		189,562
	Tyson Foods, Inc. Class A		7,614		87,028
					3,868,663
	Gas Utilities 0.1%
	EQT Corp.		3,298		126,577
	Nicor, Inc.		1,201		43,765
	Questar Corp.		4,371		144,549
					314,891
	Health Care Equipment & Supplies 1.9%
	Baxter International, Inc.		15,216		857,726
	Becton, Dickinson & Co.		6,036		393,245
	Boston Scientific Corp. (a)		37,841		406,412
	C.R. Bard, Inc.		2,500		183,925
	DENTSPLY International, Inc.		3,754		125,196
	Hospira, Inc. (a)		4,022		154,566
	Intuitive Surgical, Inc. (a)		952		216,409
	Medtronic, Inc.		28,181		998,171
	St. Jude Medical, Inc. (a)		8,674		327,097
	Stryker Corp.		6,105		237,362
	Varian Medical Systems, Inc. (a)		3,131		110,430
	Zimmer Holdings, Inc. (a)		5,410		252,106
					4,262,645
	Health Care Providers & Services 2.1%
	Aetna, Inc.		11,419		307,971
	AmerisourceBergen Corp.		7,595		149,773
	Cardinal Health, Inc.		9,063		301,798
	CIGNA Corp.		6,927		196,727
	Coventry Health Care, Inc. (a)		3,939		90,597
	DaVita, Inc. (a)		2,616		130,015
	Express Scripts, Inc. (a)		6,807		476,762
	Humana, Inc. (a)		4,252		139,678
	Laboratory Corp. of America Holdings (a)		2,722		182,891
	McKesson Corp.		6,826		349,150
	Medco Health Solutions, Inc. (a)		12,132		641,298
	Patterson Cos., Inc. (a)		2,422		61,422
	Quest Diagnostics, Inc.		3,776		206,245
	Tenet Healthcare Corp. (a)		11,033		43,580
	UnitedHealth Group, Inc.		29,916		839,443
	WellPoint, Inc. (a)		12,189		641,629
					4,758,979
	Health Care Technology 0.0%‡
	IMS Health, Inc.		4,584		55,008
	Hotels, Restaurants & Leisure 1.5%
	Carnival Corp.		11,013		308,254
	Darden Restaurants, Inc.		3,496		113,236
	International Game Technology		7,427		146,683
	Marriott International, Inc. Class A		7,417		159,768
	McDonald's Corp.		27,747		1,527,750
	Starbucks Corp. (a)		18,536		328,087
	Starwood Hotels & Resorts Worldwide, Inc.		4,613		108,913
	Wyndham Worldwide Corp.		4,720		65,844
	Wynn Resorts, Ltd. (a)		1,613		82,537
	Yum! Brands, Inc.		11,657		413,357
					3,254,429
	Household Durables 0.4%
	Black & Decker Corp.		1,595		59,972
	Centex Corp. (a)		3,287		35,861
	D.R. Horton, Inc.		6,943		80,469
	Fortune Brands, Inc.		3,778		149,495
	Harman International Industries, Inc.		1,557		38,427
	KB Home		2,002		33,413
	Leggett & Platt, Inc.		3,936		68,290
	Lennar Corp. Class A		3,760		44,518
	Newell Rubbermaid, Inc.		7,370		94,852
	Pulte Homes, Inc.		5,386		61,239
	Snap-On, Inc.		1,528		54,443
	Stanley Works (The)		1,986		79,738
	Whirlpool Corp.		1,852		105,731
					906,448
	Household Products 2.6%
	Clorox Co. (The)		3,496		213,291
	Colgate-Palmolive Co.		12,623		914,410
	Kimberly-Clark Corp.		10,427		609,458
¤	Procter & Gamble Co. (The)		73,305		4,069,161
					5,806,320
	Independent Power Producers & Energy Traders 0.2%
	AES Corp. (The) (a)		16,954		216,842
	Constellation Energy Group, Inc.		5,019		144,045
	Dynegy, Inc. Class A (a)		13,446		27,026
					387,913
	Industrial Conglomerates 2.2%
	3M Co.		17,464		1,231,561
¤	General Electric Co.		266,328		3,568,795
	Textron, Inc.		6,653		89,417
					4,889,773
	Insurance 2.4%
	Aflac, Inc.		11,747		444,741
	Allstate Corp. (The)		13,507		363,473
	American International Group, Inc.		3,394		44,597
	Aon Corp.		6,962		274,651
	Assurant, Inc.		2,964		75,641
	Chubb Corp. (The)		8,964		413,957
	Cincinnati Financial Corp.		4,092		98,822
	Genworth Financial, Inc. Class A		11,518		79,474
	Hartford Financial Services Group, Inc.		8,013		132,134
	Lincoln National Corp.		7,447		157,802
	Loews Corp.		9,122		273,842
	Marsh & McLennan Cos., Inc.		12,956		264,562
	MBIA, Inc. (a)		4,309		18,055
	MetLife, Inc.		20,668		701,679
	Principal Financial Group, Inc.		7,811		185,121
	Progressive Corp. (The) (a)		17,027		265,281
	Prudential Financial, Inc.		11,641		515,347
	Torchmark Corp.		2,143		83,706
	Travelers Cos., Inc. (The)		14,731		634,464
	Unum Group		8,345		156,636
	XL Capital, Ltd. Class A		8,300		116,864
					5,300,849
	Internet & Catalog Retail 0.4%
	Amazon.com, Inc. (a)		8,105		695,085
	Expedia, Inc. (a)		5,565		115,251
					810,336
	Internet Software & Services 1.8%
	Akamai Technologies, Inc. (a)		4,262		70,067
	eBay, Inc. (a)		27,032		574,430
	Google, Inc. Class A (a)		6,034		2,673,364
	VeriSign, Inc. (a)		4,890		99,952
	Yahoo!, Inc. (a)		34,973		500,813
					3,918,626
	IT Services 1.0%
	Affiliated Computer Services, Inc. Class A (a)		2,458		116,534
	Automatic Data Processing, Inc.		12,616		469,946
	Cognizant Technology Solutions Corp. Class A (a)		7,338		217,131
	Computer Sciences Corp. (a)		3,818		183,913
	Convergys Corp. (a)		3,240		34,700
	Fidelity National Information Services, Inc.		4,788		112,135
	Fiserv, Inc. (a)		3,913		185,515
	Mastercard, Inc. Class A		1,824		353,911
	Paychex, Inc.		8,092		214,438
	Total System Services, Inc.		4,960		72,813
	Western Union Co. (The)		17,637		308,295
					2,269,331
	Leisure Equipment & Products 0.1%
	Eastman Kodak Co.		6,766		20,095
	Hasbro, Inc.		3,122		82,733
	Mattel, Inc.		9,033		158,800
					261,628
	Life Sciences Tools & Services 0.4%
	Life Technologies Corp. (a)		4,349		198,010
	Millipore Corp. (a)		1,392		96,883
	PerkinElmer, Inc.		2,977		52,485
	Thermo Fisher Scientific, Inc. (a)		10,590		479,515
	Waters Corp. (a)		2,478		124,519
					951,412
	Machinery 1.5%
	Caterpillar, Inc.		15,203		669,844
	Cummins, Inc.		5,075		218,276
	Danaher Corp.		6,444		394,631
	Deere & Co.		10,643		465,525
	Dover Corp.		4,687		159,405
	Eaton Corp.		4,156		215,779
	Flowserve Corp.		1,425		115,097
	Illinois Tool Works, Inc.		9,694		393,092
	Manitowoc Co., Inc. (The)		3,465		21,414
	PACCAR, Inc.		9,140		316,701
	Pall Corp.		2,976		89,518
	Parker Hannifin Corp.		4,061		179,821
					3,239,103
	Media 2.5%
	CBS Corp. Class B		17,135		140,336
	Comcast Corp. Class A		72,575		1,078,464
	DIRECTV Group, Inc. (The) (a)		13,365		346,154
	Gannett Co., Inc.		6,067		42,469
	Interpublic Group of Cos., Inc. (The) (a)		12,010		62,572
	McGraw-Hill Cos., Inc. (The)		7,926		248,480
	Meredith Corp.		963		25,491
	New York Times Co. (The) Class A		3,098		24,381
	News Corp. Class A		57,962		598,747
	Omnicom Group, Inc.		7,833		266,322
	Scripps Networks Interactive Class A		2,390		77,149
	Time Warner Cable, Inc.		8,890		293,903
	Time Warner, Inc.		30,136		803,426
	Viacom, Inc. Class B (a)		15,462		358,100
	Walt Disney Co. (The)		46,649		1,171,823
	Washington Post Co. Class B		151		68,177
					5,605,994
	Metals & Mining 0.9%
	AK Steel Holding Corp.		2,984		58,695
	Alcoa, Inc.		24,503		288,155
	Allegheny Technologies, Inc.		2,427		65,723
	Freeport-McMoRan Copper & Gold, Inc. Class B		10,364		624,949
	Newmont Mining Corp.		12,344		510,425
	Nucor Corp.		7,912		351,847
	Titanium Metals Corp.		2,263		18,941
	United States Steel Corp.		3,528		140,238
					2,058,973
	Multi-Utilities 1.4%
	Ameren Corp.		5,329		135,516
	CenterPoint Energy, Inc.		8,673		104,510
	CMS Energy Corp.		5,701		73,771
	Consolidated Edison, Inc.		6,896		271,426
	Dominion Resources, Inc.		14,837		501,491
	DTE Energy Corp.		4,109		141,596
	Integrys Energy Group, Inc.		1,926		65,060
	NiSource, Inc.		6,911		89,083
	PG&E Corp.		9,230		372,615
	Public Service Enterprise Group, Inc.		12,754		413,867
	SCANA Corp.		2,962		104,707
	Sempra Energy		6,140		321,920
	TECO Energy, Inc.		5,363		72,347
	Wisconsin Energy Corp.		2,947		126,633
	Xcel Energy, Inc.		11,317		225,661
					3,020,203
	Multiline Retail 0.8%
	Big Lots, Inc. (a)		2,182		50,273
	Family Dollar Stores, Inc.		3,521		110,630
	J.C. Penney Co., Inc.		5,930		178,790
	Kohl's Corp. (a)		7,679		372,815
	Macy's, Inc.		10,599		147,432
	Nordstrom, Inc.		4,017		106,209
	Sears Holdings Corp. (a)		1,402		93,009
	Target Corp.		18,971		827,515
					1,886,673
	Office Electronics 0.1%
	Xerox Corp.		21,815		178,665
	Oil, Gas & Consumable Fuels 10.0%
	Anadarko Petroleum Corp.		12,555		605,151
	Apache Corp.		8,434		708,034
	Cabot Oil & Gas Corp.		2,605		91,514
	Chesapeake Energy Corp.		14,199		304,427
¤	Chevron Corp.		50,474		3,506,429
	ConocoPhillips		37,333		1,631,825
	CONSOL Energy, Inc.		4,566		162,230
	Denbury Resources, Inc. (a)		6,265		103,999
	Devon Energy Corp.		11,134		646,774
	El Paso Corp.		17,672		177,780
	EOG Resources, Inc.		6,290		465,649
¤	ExxonMobil Corp.		122,725		8,638,613
	Hess Corp.		7,149		394,625
	Marathon Oil Corp.		17,782		573,470
	Massey Energy Co.		2,249		59,823
	Murphy Oil Corp.		4,801		279,418
	Noble Energy, Inc.		4,353		266,055
	Occidental Petroleum Corp.		20,410		1,456,049
	Peabody Energy Corp.		6,720		222,499
	Pioneer Natural Resources Co.		2,966		84,679
	Range Resources Corp.		3,915		181,695
	Southwestern Energy Co. (a)		8,652		358,452
	Spectra Energy Corp.		16,254		298,424
	Sunoco, Inc.		2,945		72,712
	Tesoro Corp.		3,489		45,671
	Valero Energy Corp.		13,990		251,820
	Williams Cos., Inc.		14,584		243,407
	XTO Energy, Inc.		14,537		584,824
					22,416,048
	Paper & Forest Products 0.2%
	International Paper Co.		10,775		202,678
	MeadWestvaco Corp.		4,543		88,543
	Weyerhaeuser Co.		5,325		186,588
					477,809
	Personal Products 0.2%
	Avon Products, Inc.		10,743		347,858
	Estee Lauder Cos., Inc. (The) Class A		2,920		106,405
					454,263
	Pharmaceuticals 7.1%
	Abbott Laboratories		38,912		1,750,651
	Allergan, Inc.		7,750		414,082
	Bristol-Myers Squibb Co.		49,890		1,084,608
	Eli Lilly & Co.		25,546		891,300
	Forest Laboratories, Inc. (a)		7,595		196,179
¤	Johnson & Johnson		69,302		4,219,799
	King Pharmaceuticals, Inc. (a)		6,212		56,343
	Merck & Co., Inc.		53,072		1,592,691
	Mylan, Inc. (a)		7,679		101,286
	Pfizer, Inc.		169,934		2,707,048
	Schering-Plough Corp.		40,968		1,086,062
	Watson Pharmaceuticals, Inc. (a)		2,636		91,548
	Wyeth		33,556		1,562,032
					15,753,629
	Professional Services 0.1%
	Dun & Bradstreet Corp.		1,359		97,834
	Equifax, Inc.		3,183		82,917
	Monster Worldwide, Inc. (a)		3,297		42,960
	Robert Half International, Inc.		3,910		96,929
					320,640
	Real Estate Investment Trusts 1.0%
	Apartment Investment & Management Co.		2,945		27,624
	AvalonBay Communities, Inc.		1,943		113,083
	Boston Properties, Inc.		3,427		181,288
	Equity Residential		6,855		164,520
	HCP, Inc.		6,847		176,379
	Health Care, Inc.		2,746		110,005
	Host Hotels & Resorts, Inc.		14,925		135,519
	Kimco Realty Corp.		7,865		77,392
	Plum Creek Timber Co., Inc.		4,203		131,470
	ProLogis		10,583		93,024
	Public Storage		3,159		229,249
	Simon Property Group, Inc.		7,041		392,324
	Ventas, Inc.		3,938		139,011
	Vornado Realty Trust		3,933		200,662
					2,171,550
	Real Estate Management & Development 0.0%‡
	CB Richard Ellis Group, Inc. (a)		5,954		64,899
	Forestar Real Estate Group, Inc. (a)		1		13
					64,912
	Road & Rail 1.0%
	Burlington Northern Santa Fe Corp.		7,003		550,366
	CSX Corp.		9,941		398,833
	Norfolk Southern Corp.		9,332		403,609
	Ryder System, Inc.		1,501		52,730
	Union Pacific Corp.		12,763		734,128
					2,139,666
	Semiconductors & Semiconductor Equipment 2.6%
	Advanced Micro Devices, Inc. (a)		14,120		51,679
	Altera Corp.		7,494		140,063
	Analog Devices, Inc.		7,339		200,869
	Applied Materials, Inc.		33,812		466,606
	Broadcom Corp. Class A (a)		10,748		303,416
	Intel Corp.		140,172		2,698,311
	KLA-Tencor Corp.		4,256		135,681
	Linear Technology Corp.		5,588		150,150
	LSI Corp. (a)		17,118		88,671
	MEMC Electronic Materials, Inc. (a)		5,657		99,676
	Microchip Technology, Inc.		4,584		123,447
	Micron Technology, Inc. (a)		20,783		132,803
	National Semiconductor Corp.		4,916		74,035
	Novellus Systems, Inc. (a)		2,637		51,606
	NVIDIA Corp. (a)		13,535		175,008
	Teradyne, Inc. (a)		4,491		35,389
	Texas Instruments, Inc.		32,196		774,314
	Xilinx, Inc.		6,903		149,726
					5,851,450
	Software 4.0%
	Adobe Systems, Inc. (a)		13,172		427,036
	Autodesk, Inc. (a)