-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Q2EHi4e0V4rPN69kHfpCqW3j/6Kny3vzLr8iB9kIGbpbw502tG12MXcpNdeDu46C a30XDh0UXtxVntvOE6ZFhQ== 0000205323-08-000023.txt : 20080729 0000205323-08-000023.hdr.sgml : 20080729 20080729162229 ACCESSION NUMBER: 0000205323-08-000023 CONFORMED SUBMISSION TYPE: N-CSRS PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20080531 FILED AS OF DATE: 20080729 DATE AS OF CHANGE: 20080729 EFFECTIVENESS DATE: 20080729 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY COMMONWEALTH TRUST CENTRAL INDEX KEY: 0000205323 IRS NUMBER: 042558592 STATE OF INCORPORATION: MA FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: N-CSRS SEC ACT: 1940 Act SEC FILE NUMBER: 811-02546 FILM NUMBER: 08976098 BUSINESS ADDRESS: STREET 1: 82 DEVONSHIRE ST STREET 2: MAILZONE Z1C CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6175701251 MAIL ADDRESS: STREET 1: 82 DEVONSHIRE STREET STREET 2: MAIL ZONE Z1C CITY: BOSTON STATE: MA ZIP: 02109 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY INTERMEDIATE BOND FUND DATE OF NAME CHANGE: 19900412 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY THRIFT TRUST DATE OF NAME CHANGE: 19880308 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY INVESTORS TRUST DATE OF NAME CHANGE: 19790117

0000205323 S000006010 Fidelity NASDAQ Composite Index Fund

C000016526 Fidelity NASDAQ Composite Index Fund FNCMX

0000205323 S000006011 Fidelity NASDAQ Composite Index Tracking Stock

C000016527 Fidelity NASDAQ Composite Index Tracking Stock ONEQ

0000205323 S000016687 Fidelity 100 Index Fund

C000046625 Fidelity 100 Index Fund

N-CSRS 1 main.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-2546

Fidelity Commonwealth Trust
(Exact name of registrant as specified in charter)

82 Devonshire St., Boston, Massachusetts 02109
(Address of principal executive offices) (Zip code)

Scott C. Goebel, Secretary

82 Devonshire St.

Boston, Massachusetts 02109
(Name and address of agent for service)

Registrant's telephone number, including area code: 617-563-7000

Date of fiscal year end:	November 30

Date of reporting period:	May 31, 2008

Item 1. Reports to Stockholders

Fidelity®
100 Index
Fund

Semiannual Report

May 31, 2008
(2_fidelity_logos) (Registered_Trademark)

Chairman's Message	<Click Here>	Ned Johnson's message to shareholders.
Shareholder Expense Example	<Click Here>	An example of shareholder expenses.
Investment Changes	<Click Here>	A summary of major shifts in the fund's investments over the past six months.
Investments	<Click Here>	A complete list of the fund's investments with their market values.
Financial Statements	<Click Here>	Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
Notes	<Click Here>	Notes to the financial statements.
Proxy Voting Results	<Click Here>

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com (search for "proxy voting guidelines") or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.

Geode is a registered trademark of Geode Capital Management, LLC.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.

This report and the financial statements contained herein are submitted for the general information of the shareholders of the fund. This report is not authorized for distribution to prospective investors in the fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com or http://www.advisor.fidelity.com, as applicable.

NOT FDIC INSURED · MAY LOSE VALUE · NO BANK GUARANTEE

Neither the fund nor Fidelity Distributors Corporation is a bank.

Semiannual Report

Chairman's Message

(photo_of_Edward_C_Johnson_3d)

Dear Shareholder:

Investing momentum appeared to shift back in favor of equities as we approached the mid-point of 2008, offsetting some - but not all - of the market's earlier weakness. However, the outlook for the remainder of the year was far from certain. Financial markets are always unpredictable, but there are a number of time-tested principles that can put the historical odds in your favor.

One of the basic tenets is to invest for the long term. Over time, riding out the markets' inevitable ups and downs has proven much more effective than selling into panic or chasing the hottest trend. Even missing only a few of the markets' best days can significantly diminish investor returns. Patience also affords the benefits of compounding - of earning interest on additional income or reinvested dividends and capital gains. There are tax advantages and cost benefits to consider as well. The more you sell, the more taxes you pay, and the more you trade, the higher the costs. While staying the course doesn't eliminate risk, it can considerably lessen the effect of short-term declines.

You can further manage your investing risk through diversification. And today, more than ever, geographic diversification should be taken into account. Studies indicate that asset allocation is the single most important determinant of a portfolio's long-term success. The right mix of stocks, bonds and cash - aligned to your particular risk tolerance and investment objective - is very important. Age-appropriate rebalancing is also an essential aspect of asset allocation. For younger investors, an emphasis on equities - which historically have been the best-performing asset class over time - is encouraged. As investors near their specific goal, such as retirement or sending a child to college, consideration may be given to replacing volatile assets (e.g. common stocks) with more-stable fixed investments (bonds or savings plans).

A third investment principle - investing regularly - can help lower the average cost of your purchases. Investing a certain amount of money each month or quarter helps ensure you won't pay for all your shares at market highs. This strategy - known as dollar cost averaging - also reduces unconstructive "emotion" from investing, helping shareholders avoid selling weak performers just prior to an upswing, or chasing a hot performer just before a correction.

We invite you to contact us via the Internet, through our Investor Centers or over the phone. It is our privilege to provide you the information you need to make the investments that are right for you.

Sincerely,
/s/Edward C. Johnson 3d

Edward C. Johnson 3d

Semiannual Report

Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, and (2) ongoing costs, including management fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (December 1, 2007 to May 31, 2008).

Actual Expenses

The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. An annual index fund fee of $10 that is charged once a year may apply for certain accounts with a value of less than $10,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the Fund's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. An annual index fund fee of $10 that is charged once a year may apply for certain accounts with a value of less than $10,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Semiannual Report

Shareholder Expense Example - continued

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds.

	Beginning Account Value December 1, 2007	Ending Account Value May 31, 2008	Expenses Paid During Period* December 1, 2007 to May 31, 2008
Actual	$ 1,000.00	$ 933.60	$ .97
Hypothetical (5% return per year before expenses)	$ 1,000.00	$ 1,024.00	$ 1.01

* Expenses are equal to the Fund's annualized expense ratio of .20%; multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period).

Semiannual Report

Investment Changes (Unaudited)

Top Ten Stocks as of May 31, 2008
	% of fund's net assets	% of fund's net assets 6 months ago
Exxon Mobil Corp.	6.6	6.3
General Electric Co.	4.2	5.0
AT&T, Inc.	3.4	3.0
Microsoft Corp.	3.1	3.5
Chevron Corp.	2.9	2.4
Procter & Gamble Co.	2.8	3.0
Johnson & Johnson	2.6	2.5
International Business Machines Corp.	2.5	1.9
Apple, Inc.	2.3	2.0
Cisco Systems, Inc.	2.2	2.2
	32.6
Market Sectors as of May 31, 2008
	% of fund's net assets	% of fund's net assets 6 months ago
Information Technology	18.7	18.3
Financials	15.2	18.0
Energy	15.1	13.0
Consumer Staples	13.4	12.9
Industrials	11.6	12.0
Health Care	10.6	10.7
Consumer Discretionary	5.6	5.7
Telecommunication Services	5.3	5.2
Utilities	1.9	1.8
Materials	1.9	2.0

Semiannual Report

Investments May 31, 2008 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.3%
	Shares		Value
CONSUMER DISCRETIONARY - 5.6%
Automobiles - 0.3%
Ford Motor Co. (a)	2,186,005		$ 14,864,834
General Motors Corp. (d)	560,674		9,587,525
			24,452,359
Hotels, Restaurants & Leisure - 1.0%
McDonald's Corp.	1,140,687		67,665,553
Media - 3.1%
CBS Corp. Class B	674,242		14,550,142
Clear Channel Communications, Inc.	493,142		17,269,833
Comcast Corp. Class A	2,982,388		67,103,730
The Walt Disney Co.	1,865,090		62,667,024
Time Warner, Inc.	3,542,298		56,251,692
			217,842,421
Multiline Retail - 0.6%
Target Corp.	810,910		43,270,158
Specialty Retail - 0.6%
Home Depot, Inc.	1,671,561		45,733,909
TOTAL CONSUMER DISCRETIONARY			398,964,400
CONSUMER STAPLES - 13.4%
Beverages - 3.7%
Anheuser-Busch Companies, Inc.	708,340		40,701,216
PepsiCo, Inc.	1,586,550		108,361,365
The Coca-Cola Co.	1,979,635		113,353,900
			262,416,481
Food & Staples Retailing - 2.7%
CVS Caremark Corp.	1,418,256		60,687,174
Wal-Mart Stores, Inc.	2,340,357		135,132,213
			195,819,387
Food Products - 1.2%
Campbell Soup Co.	218,065		7,300,816
H.J. Heinz Co.	312,151		15,579,456
Kraft Foods, Inc. Class A	1,518,727		49,328,253
Sara Lee Corp.	705,398		9,720,384
			81,928,909
Household Products - 3.4%
Colgate-Palmolive Co.	504,971		37,549,644
Procter & Gamble Co.	3,048,219		201,334,865
			238,884,509
Common Stocks - continued
	Shares		Value
CONSUMER STAPLES - continued
Personal Products - 0.2%
Avon Products, Inc.	422,707		$ 16,510,935
Tobacco - 2.2%
Altria Group, Inc.	2,088,242		46,484,267
Philip Morris International, Inc.	2,088,242		109,966,824
			156,451,091
TOTAL CONSUMER STAPLES			952,011,312
ENERGY - 15.1%
Energy Equipment & Services - 3.1%
Baker Hughes, Inc.	306,455		27,158,042
Halliburton Co.	871,783		42,351,218
National Oilwell Varco, Inc. (a)	409,307		34,103,459
Schlumberger Ltd. (NY Shares)	1,186,316		119,972,137
			223,584,856
Oil, Gas & Consumable Fuels - 12.0%
Chevron Corp.	2,056,923		203,943,915
ConocoPhillips	1,546,649		143,993,022
El Paso Corp.	694,116		13,569,968
Exxon Mobil Corp.	5,299,126		470,350,428
Williams Companies, Inc.	579,454		22,042,430
			853,899,763
TOTAL ENERGY			1,077,484,619
FINANCIALS - 15.2%
Capital Markets - 3.2%
Bank of New York Mellon Corp.	1,130,509		50,341,566
Goldman Sachs Group, Inc.	391,352		69,038,406
Lehman Brothers Holdings, Inc. (d)	525,540		19,345,127
Merrill Lynch & Co., Inc.	962,306		42,264,480
Morgan Stanley	1,094,079		48,391,114
			229,380,693
Commercial Banks - 2.9%
Regions Financial Corp.	687,002		12,242,376
U.S. Bancorp, Delaware	1,713,287		56,863,996
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Commercial Banks - continued
Wachovia Corp.	2,107,579		$ 50,160,380
Wells Fargo & Co.	3,265,441		90,028,208
			209,294,960
Consumer Finance - 1.0%
American Express Co.	1,145,089		53,074,875
Capital One Financial Corp.	369,435		17,777,212
			70,852,087
Diversified Financial Services - 6.0%
Bank of America Corp.	4,399,967		149,642,878
Citigroup, Inc.	5,156,787		112,882,067
JPMorgan Chase & Co.	3,390,238		145,780,234
NYSE Euronext	262,479		16,777,658
			425,082,837
Insurance - 2.1%
Allstate Corp.	555,089		28,276,234
American International Group, Inc.	2,667,765		96,039,540
Hartford Financial Services Group, Inc.	311,024		22,104,476
			146,420,250
TOTAL FINANCIALS			1,081,030,827
HEALTH CARE - 10.6%
Biotechnology - 0.7%
Amgen, Inc. (a)	1,077,280		47,432,638
Health Care Equipment & Supplies - 1.7%
Baxter International, Inc.	628,389		38,394,568
Covidien Ltd.	494,003		24,744,610
Medtronic, Inc.	1,112,343		56,362,420
			119,501,598
Health Care Providers & Services - 0.7%
CIGNA Corp.	277,421		11,263,293
UnitedHealth Group, Inc.	1,239,477		42,402,508
			53,665,801
Pharmaceuticals - 7.5%
Abbott Laboratories	1,531,032		86,273,653
Bristol-Myers Squibb Co.	1,960,556		44,681,071
Johnson & Johnson	2,805,653		187,249,281
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Pharmaceuticals - continued
Merck & Co., Inc.	2,144,691		$ 83,557,161
Pfizer, Inc.	6,696,665		129,647,434
			531,408,600
TOTAL HEALTH CARE			752,008,637
INDUSTRIALS - 11.6%
Aerospace & Defense - 3.4%
General Dynamics Corp.	398,398		36,712,376
Honeywell International, Inc.	737,302		43,957,945
Raytheon Co.	422,329		26,969,930
The Boeing Co.	757,556		62,702,910
United Technologies Corp.	972,179		69,063,596
			239,406,757
Air Freight & Logistics - 1.4%
FedEx Corp.	306,522		28,111,133
United Parcel Service, Inc. Class B	1,024,522		72,761,552
			100,872,685
Industrial Conglomerates - 5.3%
3M Co.	700,931		54,364,208
General Electric Co.	9,890,665		303,841,229
Tyco International Ltd.	480,346		21,706,836
			379,912,273
Machinery - 0.7%
Caterpillar, Inc.	618,049		51,075,569
Road & Rail - 0.8%
Burlington Northern Santa Fe Corp.	293,156		33,141,286
Norfolk Southern Corp.	372,753		25,116,097
			58,257,383
TOTAL INDUSTRIALS			829,524,667
INFORMATION TECHNOLOGY - 18.7%
Communications Equipment - 2.2%
Cisco Systems, Inc. (a)	5,904,284		157,762,468
Computers & Peripherals - 7.6%
Apple, Inc. (a)	870,514		164,309,518
Dell, Inc. (a)	2,022,868		46,647,336
EMC Corp. (a)	2,080,585		36,285,402
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Computers & Peripherals - continued
Hewlett-Packard Co.	2,441,843		$ 114,913,132
International Business Machines Corp.	1,371,161		177,469,368
			539,624,756
Internet Software & Services - 1.9%
Google, Inc. Class A (sub. vtg.) (a)	229,694		134,554,745
Office Electronics - 0.2%
Xerox Corp.	908,838		12,342,020
Semiconductors & Semiconductor Equipment - 2.4%
Intel Corp.	5,732,934		132,889,410
Texas Instruments, Inc.	1,313,700		42,668,976
			175,558,386
Software - 4.4%
Microsoft Corp.	7,927,853		224,516,797
Oracle Corp. (a)	3,917,543		89,476,682
			313,993,479
TOTAL INFORMATION TECHNOLOGY			1,333,835,854
MATERIALS - 1.9%
Chemicals - 1.1%
Dow Chemical Co.	930,667		37,598,947
E.I. du Pont de Nemours & Co.	890,789		42,677,701
			80,276,648
Metals & Mining - 0.5%
Alcoa, Inc.	806,623		32,740,828
Paper & Forest Products - 0.3%
International Paper Co.	423,692		11,532,896
Weyerhaeuser Co.	207,560		12,937,215
			24,470,111
TOTAL MATERIALS			137,487,587
TELECOMMUNICATION SERVICES - 5.3%
Diversified Telecommunication Services - 4.9%
AT&T, Inc.	5,978,301		238,534,210
Verizon Communications, Inc.	2,843,640		109,394,831
			347,929,041
Common Stocks - continued
	Shares		Value
TELECOMMUNICATION SERVICES - continued
Wireless Telecommunication Services - 0.4%
Sprint Nextel Corp.	2,821,839		$ 26,412,413
TOTAL TELECOMMUNICATION SERVICES			374,341,454
UTILITIES - 1.9%
Electric Utilities - 1.7%
American Electric Power Co., Inc.	396,618		16,788,840
Entergy Corp.	189,354		22,868,283
Exelon Corp.	654,929		57,633,752
Southern Co.	757,437		27,419,219
			124,710,094
Independent Power Producers & Energy Traders - 0.2%
AES Corp. (a)	662,890		12,913,097
TOTAL UTILITIES			137,623,191
TOTAL COMMON STOCKS (Cost $7,644,887,545)		7,074,312,548
Investment Companies - 0.4%

iShares S&P 100 Index ETF (Cost $29,692,130)	450,795		29,035,706

U.S. Treasury Obligations - 0.0%
	Principal Amount
U.S. Treasury Bills, yield at date of purchase 1.25% 6/26/08 (e) (Cost $1,495,260)	$ 1,500,000	1,498,035

Money Market Funds - 0.5%
	Shares		Value
Fidelity Cash Central Fund, 2.44% (b)	10,795,118		$ 10,795,118
Fidelity Securities Lending Cash Central Fund, 2.42% (b)(c)	24,017,000		24,017,000
TOTAL MONEY MARKET FUNDS (Cost $34,812,118)			34,812,118
TOTAL INVESTMENT PORTFOLIO - 100.2% (Cost $7,710,887,053)			7,139,658,407
NET OTHER ASSETS - (0.2)%			(10,696,867)
NET ASSETS - 100%		$ 7,128,961,540

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/ (Depreciation)
Purchased
Equity Index Contracts
7 S&P 500 E-Mini Index Contracts	June 2008	$ 490,210	$ 7,503
72 S&P 500 Index Contracts	June 2008	25,210,800	148,364
TOTAL EQUITY INDEX CONTRACTS		$ 25,701,010	$ 155,867

The face value of futures purchased as a percentage of net assets - 0.4%

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

(d) Security or a portion of the security is on loan at period end.

(e) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $1,498,035.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund	Income earned
Fidelity Cash Central Fund	$ 458,194
Fidelity Securities Lending Cash Central Fund	28,131
Total	$ 486,325

Other Information

The following is a summary of the inputs used, as of May 31, 2008, involving the Fund's assets carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Security Valuation section in the accompanying Notes to Financial Statements.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities	$ 7,139,658,407	$ 7,138,160,372	$ 1,498,035	$ -
Other Financial Instruments*	$ 155,867	$ 155,867	$ -	$ -

* Other financial instruments include Futures Contracts.

Income Tax Information

At November 30, 2007, the fund had a capital loss carryforward of approximately $2,126,258 all of which will expire on November 30, 2015.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements

Statement of Assets and Liabilities

	May 31, 2008 (Unaudited)

Assets
Investment in securities, at value (including securities loaned of $23,121,000) - See accompanying schedule: Unaffiliated issuers (cost $7,676,074,935)	$ 7,104,846,289
Fidelity Central Funds (cost $34,812,118)	34,812,118
Total Investments (cost $7,710,887,053)		$ 7,139,658,407
Receivable for fund shares sold		3,567
Dividends receivable		17,014,052
Distributions receivable from Fidelity Central Funds		34,664
Receivable for daily variation on futures contracts		52,565
Other receivables		348
Total assets		7,156,763,603

Liabilities
Payable for investments purchased	$ 2,588,565
Payable for fund shares redeemed	601
Accrued management fee	1,195,897
Collateral on securities loaned, at value	24,017,000
Total liabilities		27,802,063

Net Assets		$ 7,128,961,540
Net Assets consist of:
Paid in capital		$ 7,659,935,804
Undistributed net investment income		60,605,760
Accumulated undistributed net realized gain (loss) on investments		(20,507,245)
Net unrealized appreciation (depreciation) on investments		(571,072,779)
Net Assets, for 714,933,098 shares outstanding		$ 7,128,961,540
Net Asset Value, offering price and redemption price per share ($7,128,961,540 ÷ 714,933,098 shares)		$ 9.97

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Statement of Operations

Six months ended May 31, 2008 (Unaudited)

Investment Income
Dividends		$ 82,160,823
Interest		15,549
Income from Fidelity Central Funds		486,325
Total income		82,662,697

Expenses
Management fee	$ 6,839,258
Independent trustees' compensation	14,363
Interest	3,564
Miscellaneous	1,663
Total expenses before reductions	6,858,848
Expense reductions	(252,119)	6,606,729
Net investment income (loss)		76,055,968
Realized and Unrealized Gain (Loss) Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers	(15,915,346)
Futures contracts	(1,121,968)
Total net realized gain (loss)		(17,037,314)
Change in net unrealized appreciation (depreciation) on: Investment securities	(484,990,395)
Futures contracts	151,634
Total change in net unrealized appreciation (depreciation)		(484,838,761)
Net gain (loss)		(501,876,075)
Net increase (decrease) in net assets resulting from operations		$ (425,820,107)

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

Statement of Changes in Net Assets

	Six months ended May 31, 2008 (Unaudited)	For the period March 29, 2007 (commencement of operations) to November 30, 2007
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 76,055,968	$ 51,516,164
Net realized gain (loss)	(17,037,314)	(3,469,932)
Change in net unrealized appreciation (depreciation)	(484,838,761)	(86,234,018)
Net increase (decrease) in net assets resulting from operations	(425,820,107)	(38,187,786)
Distributions to shareholders from net investment income	(66,458,057)	-
Affiliated share transactions Contributions in-kind	-	4,756,907,059
Proceeds from sales of shares	1,163,510,865	1,813,136,208
Reinvestment of distributions	66,458,057	-
Cost of shares redeemed	(9,491,731)	(131,092,968)
Net increase (decrease) in net assets resulting from share transactions	1,220,477,191	6,438,950,299
Total increase (decrease) in net assets	728,199,027	6,400,762,513

Net Assets
Beginning of period	6,400,762,513	-
End of period (including undistributed net investment income of $60,605,760 and undistributed net investment income of $51,516,164, respectively)	$ 7,128,961,540	$ 6,400,762,513
Other Information Shares
Issued for in-kind contribution	-	435,614,200
Sold	116,247,717	169,724,959
Issued in reinvestment of distributions	6,263,719	-
Redeemed	(962,943)	(11,954,554)
Net increase (decrease)	121,548,493	593,384,605

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Highlights

	Six months ended May 31, 2008	Period ended November 30,
	(Unaudited)	2007^H
Selected Per-Share Data
Net asset value, beginning of period	$ 10.79	$ 10.00
Income from Investment Operations
Net investment income (loss)^D	.11	.15
Net realized and unrealized gain (loss)	(.82)	.64^G
Total from investment operations	(.71)	.79
Distributions from net investment income	(.11)	-
Net asset value, end of period	$ 9.97	$ 10.79
Total Return^{B, C}	(6.64)%	7.90%
Ratios to Average Net Assets^{E, I}
Expenses before reductions	.20%^A	.20%^A
Expenses net of fee waivers, if any	.20%^A	.20%^A
Expenses net of all reductions	.19%^A	.19%^A
Net investment income (loss)	2.22%^A	2.16%^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 7,128,962	$ 6,400,763
Portfolio turnover rate^F	3%^A	2%^A

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower had certain expenses not been reduced during the periods shown.

^D Calculated based on average shares outstanding during the period.

^E Fees and expenses of the underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^G The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.

^H For the period March 29, 2007 (commencement of operations) to November 30, 2007.

^I Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Notes to Financial Statements

For the period ended May 31, 2008 (Unaudited)

1. Organization.

Fidelity 100 Index Fund (the Fund) is a non-diversified fund of Fidelity Commonwealth Trust (the trust) and is authorized to issue an unlimited number of shares. Shares of the Fund are only available for purchase by mutual funds for which Fidelity Management & Research Company (FMR) or an affiliate serves as an investment manager. The trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.

2. Investments in Fidelity Central Funds.

The Fund may invest in Fidelity Central Funds, which are open-end investment companies available only to other investment companies and accounts managed by FMR and its affiliates. The Fund's Schedule of Investments lists each of the Fidelity Central Funds as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of FMR.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the SEC's web site at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds are available on the SEC's web site or upon request.

3. Significant Accounting Policies.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. The following summarizes the significant accounting policies of the Fund:

Security Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Wherever possible, the Fund uses independent pricing services approved by the Board of Trustees to value its investments.

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by an independent pricing service on the primary market or exchange on which they are traded. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price. Futures contracts are valued at the

Semiannual Report

3. Significant Accounting Policies - continued

Security Valuation - continued

settlement price established each day by the board of trade or exchange on which they are traded. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value.

When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include monitoring news to identify significant market or security specific events such as changes in the value of U.S. securities markets, monitoring changes in interest rates and credit quality, reviewing developments in foreign markets by evaluating the performance of ADRs, futures contracts and exchange-traded funds. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value of securities used for net asset value (NAV) calculation under these procedures may differ from published prices for the same securities.

The Fund is subject to the provisions of Statement of Financial Accounting Standards No. 157, "Fair Value Measurements" (SFAS 157), effective with the beginning of the Fund's fiscal year. SFAS 157 establishes a hierarchy that prioritizes the inputs to valuation techniques giving the highest priority to readily available unadjusted quoted prices in active markets for identical assets (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy under SFAS 157 are described below:

Level 1	Quoted prices in active markets for identical securities.
Level 2	Prices determined using other significant observable inputs. Observable inputs are inputs that other market participants would use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others.
Level 3	Prices determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Fund's own assumptions about the factors market participants would use in pricing an investment, and would be based on the best information available.

Changes in valuation techniques may result in transfers in or out of an investment's assigned level within the hierarchy.

A summary of the inputs used as of May 31, 2008, in valuing the Fund's investments is included at the end of the Fund's Schedule of Investments.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

3. Significant Accounting Policies - continued

Expenses. Most expenses of the trust can be directly attributed to a fund. Expenses which cannot be directly attributed are apportioned among each Fund in the trust. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company by distributing substantially all of its taxable income and realized gains under Subchapter M of the Internal Revenue Code and filing its U.S. federal tax return. As a result, no provision for income taxes is required. The Fund is subject to the provisions of FASB Interpretation No. 48, Accounting for Uncertainties in Income Taxes (FIN 48). FIN 48 sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. The implementation of FIN 48 did not result in any unrecognized tax benefits in the accompanying financial statements. Each of the Fund's federal tax returns for the prior three fiscal years remains subject to examination by the Internal Revenue Service.

Distributions are recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from generally accepted accounting principles. In addition, the Fund claimed a portion of the payment made to redeeming shareholders as a distribution for income tax purposes.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences will reverse in a subsequent period.

Semiannual Report

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

Book-tax differences are primarily due to futures transactions, capital loss carryforwards, and losses deferred due to wash sales and excise tax regulations.

The federal tax cost of investments and unrealized appreciation (depreciation) as of period end were as follows:

Unrealized appreciation	$ 330,140,234
Unrealized depreciation	(905,381,838)
Net unrealized appreciation (depreciation)	$ (575,241,604)
Cost for federal income tax purposes	$ 7,714,900,011

New Accounting Pronouncement. In March 2008, Statement of Financial Accounting Standards No. 161, Disclosures about Derivative Instruments and Hedging Activities (SFAS 161), was issued and is effective for fiscal years beginning after November 15, 2008. SFAS 161 requires enhanced disclosures to provide information about the reasons the Fund invests in derivative instruments, the accounting treatment and the effect derivatives have on financial performance. Management is currently evaluating the impact the adoption of SFAS 161 will have on the Fund's financial statement disclosures.

4. Operating Policies.

Repurchase Agreements. FMR has received an Exemptive Order from the Securities and Exchange Commission (the SEC) which permits the Fund and other affiliated entities of FMR to transfer uninvested cash balances into joint trading accounts which are then invested in repurchase agreements. The Fund may also invest directly with institutions in repurchase agreements. Repurchase agreements are collateralized by government or non-government securities. Upon settlement date, collateral is held in segregated accounts with custodian banks and may be obtained in the event of a default of the counterparty. The Fund monitors, on a daily basis, the value of the collateral to ensure it is at least equal to the principal amount of the repurchase agreement (including accrued interest). In the event of a default by the counterparty, realization of the collateral proceeds could be delayed, during which time the value of the collateral may decline.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

4. Operating Policies - continued

Futures Contracts - continued

a segregated account on settlement date. Subsequent payments ("variation margin") are made or received by a fund depending on the daily fluctuations in the value of the futures contract and are accounted for as unrealized gains or losses. Realized gains (losses) are recorded upon the expiration or closing of the futures contract. Securities deposited to meet margin requirements are identified in the Schedule of Investments. Futures contracts involve, to varying degrees, risk of loss in excess of any futures variation margin reflected in the Statement of Assets and Liabilities. The underlying face amount at value of any open futures contracts at period end is shown in the Schedule of Investments under the caption "Futures Contracts." This amount reflects each contract's exposure to the underlying instrument at period end. Losses may arise from changes in the value of the underlying instruments or if the counterparties do not perform under the contract's terms.

5. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, aggregated $1,326,454,939 and $116,903,960, respectively.

6. Fees and Other Transactions with Affiliates.

Management Fee. FMR and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee that is based on an annual rate of .20% of the Fund's average net assets.

Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Fund. Geode provides discretionary investment advisory services to the Fund and is paid by FMR for providing these services.

Interfund Lending Program. Pursuant to an Exemptive Order issued by the SEC, the Fund, along with other registered investment companies having management contracts with FMR, may participate in an interfund lending program. This program provides an alternative credit facility allowing the funds to borrow from, or lend money to, other participating affiliated funds. At period end, there were no interfund loans outstanding. The Fund's activity in this program during the period for which loans were outstanding was as follows:

Borrower or Lender	Average Daily Loan Balance	Weighted Average Interest Rate	Interest Expense
Borrower	$ 10,765,800	2.38%	$ 3,564

Semiannual Report

7. Committed Line of Credit.

The Fund participates with other funds managed by FMR in a $4.2 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The Fund has agreed to pay commitment fees on its pro rata portion of the line of credit, which amounted to $1,663 and is reflected in Miscellaneous Expense on the Statement of Operations. During the period, there were no borrowings on this line of credit.

8. Security Lending.

The Fund lends portfolio securities from time to time in order to earn additional income. On the settlement date of the loan, the Fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund could experience delays and costs in recovering the securities loaned or in gaining access to the collateral. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on the Fund's Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less fees and expenses associated with the loan, plus any premium payments that may be received on the loan of certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Net income from lending portfolio securities during the period amounted to $28,131.

9. Expense Reductions.

Through arrangements with the Fund's custodian and transfer agent, credits realized as a result of uninvested cash balances were used to reduce the Fund's management fee. During the period, these credits reduced the Fund's management fee by $252,119.

10. Other.

The Fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

10. Other - continued

claims that may be made against the Fund. The risk of material loss from such claims is considered remote.

At the end of the period, FMR or its affiliates were the owners of record of 100% of the total outstanding shares of the Fund.

Semiannual Report

Proxy Voting Results

A special meeting of the fund's shareholders was held on April 16, 2008. The results of votes taken among shareholders on the proposals before them are reported below. Each vote reported represents one dollar of net asset value held on the record date for the meeting.

PROPOSAL 1
To elect a Board of Trustees.^A
	# of Votes	% of Votes
James C. Curvey
Affirmative	23,727,587,776.19	95.875
Withheld	1,020,991,311.90	4.125
TOTAL	24,748,579,088.09	100.000
Dennis J. Dirks
Affirmative	23,825,239,061.03	96.269
Withheld	923,340,027.06	3.731
TOTAL	24,748,579,088.09	100.000
Edward C. Johnson 3d
Affirmative	23,651,709,495.75	95.568
Withheld	1,096,869,592.34	4.432
TOTAL	24,748,579,088.09	100.000
Alan J. Lacy
Affirmative	23,800,282,191.08	96.168
Withheld	948,296,897.01	3.832
TOTAL	24,748,579,088.09	100.000
Ned C. Lautenbach
Affirmative	23,793,631,497.85	96.141
Withheld	954,947,590.24	3.859
TOTAL	24,748,579,088.09	100.000
Joseph Mauriello
Affirmative	23,811,616,983.60	96.214
Withheld	936,962,104.49	3.786
TOTAL	24,748,579,088.09	100.000
Cornelia M. Small
Affirmative	23,802,118,377.97	96.176
Withheld	946,460,710.12	3.824
TOTAL	24,748,579,088.09	100.000
William S. Stavropoulos
Affirmative	23,739,468,362.04	95.923
Withheld	1,009,110,726.05	4.077
TOTAL	24,748,579,088.09	100.000
David M. Thomas
Affirmative	23,821,835,168.41	96.255
Withheld	926,743,919.68	3.745
TOTAL	24,748,579,088.09	100.000
Michael E. Wiley
Affirmative	23,809,071,367.86	96.204
Withheld	939,507,720.23	3.796
TOTAL	24,748,579,088.09	100.000
PROPOSAL 2
To amend the Declaration of Trust of Fidelity Commonwealth Trust to reduce the required quorum for future shareholder meetings.^A
	# of Votes	% of Votes
Affirmative	20,666,515,787.64	83.506
Against	2,780,145,204.68	11.233
Abstain	858,047,822.92	3.468
Broker Non-Votes	443,870,272.85	1.793
TOTAL	24,748,579,088.09	100.000

^A Denotes trust-wide proposal and voting results.

Semiannual Report

Investment Adviser

Fidelity Management & Research Company

Boston, MA

Investment Sub-Advisers

FMR Co., Inc.

Geode Capital Management, LLC

General Distributor

Fidelity Distributors Corporation

Boston, MA

Transfer and Service Agents

Fidelity Investments Institutional Operations Company, Inc.

Boston, MA

Fidelity Service Company, Inc.

Boston, MA

Custodian

JPMorgan Chase Bank, N.A.

New York, NY

The Fidelity Telephone Connection

Mutual Fund 24-Hour Service

Exchanges/Redemptions
and Account Assistance 1-800-544-6666

Product Information 1-800-544-6666

Retirement Accounts 1-800-544-4774
(8 a.m. - 9 p.m.)

TDD Service 1-800-544-0118
for the deaf and hearing impaired
(9 a.m. - 9 p.m. Eastern time)

Fidelity Automated Service
Telephone (FAST®) fid3830 1-800-544-5555

Automated line for quickest service

HUN-SANN-0708
1.842446.101

fid3833

Fidelity®
Nasdaq Composite® Index
Fund

Semiannual Report

May 31, 2008
(2_fidelity_logos) (Registered_Trademark)

Chairman's Message	<Click Here>	Ned Johnson's message to shareholders.
Shareholder Expense Example	<Click Here>	An example of shareholder expenses.
Investment Changes	<Click Here>	A summary of major shifts in the fund's investments over the past six months.
Investments	<Click Here>	A complete list of the fund's investments with their market values.
Financial Statements	<Click Here>	Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
Notes	<Click Here>	Notes to the financial statements.
Proxy Voting Results	<Click Here>

Nasdaq® and Nasdaq Composite® are trademarks of The Nasdaq Stock Market®, Inc. (which with its Affiliates are the Corporations) and are licensed for use by Fidelity. The product has not been passed on by the Corporations as to its legality or suitability. The product is not issued, endorsed or sold by the Corporations. The Corporations make no warranties and bear no liability with respect to shares of the product.

Geode is a registered trademark of Geode Capital Mangement, LLC.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.

NOT FDIC INSURED · MAY LOSE VALUE · NO BANK GUARANTEE

Neither the fund nor Fidelity Distributors Corporation is a bank.

Semiannual Report

Chairman's Message

(photo_of_Edward_C_Johnson_3d)

Dear Shareholder:

Sincerely,
/s/Edward C. Johnson 3d

Edward C. Johnson 3d

Semiannual Report

Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including redemption fees, and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (December 1, 2007 to May 31, 2008).

Actual Expenses

Hypothetical Example for Comparison Purposes

Semiannual Report

	Beginning Account Value December 1, 2007	Ending Account Value May 31, 2008	Expenses Paid During Period* December 1, 2007 to May 31, 2008
Actual	$ 1,000.00	$ 952.00	$ 1.71
Hypothetical (5% return per year before expenses)	$ 1,000.00	$ 1,023.25	$ 1.77

* Expenses are equal to the Fund's annualized expense ratio of .35%; multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period).

Semiannual Report

Investment Changes (Unaudited)

Top Ten Stocks as of May 31, 2008
	% of fund's net assets	% of fund's net assets 6 months ago
Microsoft Corp.	7.0	7.6
Apple, Inc.	4.4	3.9
Cisco Systems, Inc.	4.2	4.1
Google, Inc. Class A (sub. vtg.)	3.7	3.9
Intel Corp.	3.6	3.7
Oracle Corp.	3.1	2.5
QUALCOMM, Inc.	2.1	1.7
Research In Motion Ltd.	2.1	1.6
Gilead Sciences, Inc.	1.4	1.1
Amgen, Inc.	1.3	1.5
	32.9
Market Sectors as of May 31, 2008
	% of fund's net assets	% of fund's net assets 6 months ago
Information Technology	51.6	50.0
Health Care	12.7	12.9
Consumer Discretionary	12.0	11.8
Financials	8.5	8.7
Industrials	6.8	6.1
Energy	1.9	1.4
Consumer Staples	1.8	1.7
Telecommunication Services	1.4	1.4
Materials	1.4	1.1
Utilities	0.1	0.2
Asset Allocation (% of fund's net assets)

To match the NASDAQ Composite® Index, Fidelity Nasdaq Composite Index Fund seeks 100% investment exposure to stocks at all times.

Semiannual Report

Investments May 31, 2008 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.2%
	Shares		Value
CONSUMER DISCRETIONARY - 12.0%
Auto Components - 0.3%
Aftermarket Technology Corp. (a)	1,433		$ 32,085
Amerigon, Inc. (a)	1,196		14,854
Amerityre Corp. (a)	1,121		1,917
Ballard Power Systems, Inc. (a)(d)	6,442		27,572
China Automotive Systems, Inc. (a)(d)	1,032		6,708
Dorman Products, Inc. (a)	807		7,667
Exide Technologies (a)	3,641		60,040
Federal-Mogul Corp. Class A (a)	4,700		93,906
Fuel Systems Solutions, Inc. (a)	1,271		35,435
Gentex Corp.	7,060		123,974
Hayes Lemmerz International, Inc. (a)	5,313		20,827
Noble International Ltd.	1,804		10,265
Quantum Fuel Systems Technologies Worldwide, Inc. (a)	8,626		20,961
Shiloh Industries, Inc.	545		5,406
SORL Auto Parts, Inc. (a)	874		5,463
Spartan Motors, Inc.	1,387		12,525
Strattec Security Corp.	130		4,901
Wonder Auto Technology, Inc. (a)	1,356		11,553
			496,059
Automobiles - 0.0%
Nissan Motor Co. Ltd. sponsored ADR	2,471		43,860
Distributors - 0.1%
Aristotle Corp. (a)	920		9,991
Audiovox Corp. Class A (a)	723		7,707
Core-Mark Holding Co., Inc. (a)	492		14,288
DXP Enterprises, Inc. (a)	498		20,488
LKQ Corp. (a)	6,946		153,923
Source Interlink Companies, Inc. (a)	1,744		2,075
			208,472
Diversified Consumer Services - 0.6%
American Public Education, Inc.	799		29,635
Apollo Group, Inc. Class A (non-vtg.) (a)	8,283		395,845
Capella Education Co. (a)	785		50,954
Career Education Corp. (a)	4,714		86,219
ChinaCast Education Corp. (a)	1,990		8,617
Coinstar, Inc. (a)	1,511		57,569
Collectors Universe, Inc.	648		6,169
Corinthian Colleges, Inc. (a)	4,017		51,418
INVESTools, Inc. (a)	3,127		25,079
Lincoln Educational Services Corp. (a)	1,134		14,084
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Diversified Consumer Services - continued
Matthews International Corp. Class A	1,558		$ 74,176
Princeton Review, Inc. (a)	1,476		11,336
Steiner Leisure Ltd. (a)	790		30,541
Stewart Enterprises, Inc. Class A	5,477		37,791
Strayer Education, Inc.	735		146,927
			1,026,360
Hotels, Restaurants & Leisure - 1.5%
AFC Enterprises, Inc. (a)	1,210		12,100
Ambassadors Group, Inc.	1,175		21,808
Ambassadors International, Inc.	433		2,741
Ameristar Casinos, Inc.	2,594		46,225
Benihana, Inc. (a)	188		1,694
Benihana, Inc. Class A (sub. vtg.)	376		3,361
BJ's Restaurants, Inc. (a)	1,300		16,666
Bob Evans Farms, Inc.	1,788		52,049
Buffalo Wild Wings, Inc. (a)	820		27,019
California Pizza Kitchen, Inc. (a)	1,536		21,366
Caribou Coffee Co., Inc. (a)	738		1,579
Carrols Restaurant Group, Inc. (a)	1,153		8,002
CBRL Group, Inc.	1,025		30,186
Century Casinos, Inc. (a)	1,085		4,340
Churchill Downs, Inc.	794		33,936
Cosi, Inc. (a)	1,604		4,876
Ctrip.com International Ltd. sponsored ADR	3,264		190,552
Denny's Corp. (a)	5,557		22,561
Einstein Noah Restaurant Group, Inc. (a)	785		11,021
eLong, Inc. sponsored ADR (a)	893		7,224
Empire Resorts, Inc. (a)	1,916		7,262
Famous Dave's of America, Inc. (a)	251		2,282
FortuNet, Inc. (a)	463		2,922
Gaming Partners International Corp. (a)	597		3,540
Great Wolf Resorts, Inc. (a)	2,070		14,387
Home Inns & Hotels Management, Inc. sponsored ADR (a)	999		24,545
International Speedway Corp. Class A	1,631		72,384
Isle of Capri Casinos, Inc. (a)	1,679		11,501
Jamba, Inc. (a)(d)	2,400		5,568
Magna Entertainment Corp. Class A (sub. vtg.) (a)	2,724		1,171
McCormick & Schmick's Seafood Restaurants (a)	992		9,444
Melco PBL Entertainment (Macau) Ltd. sponsored ADR (a)	6,275		74,610
Monarch Casino & Resort, Inc. (a)	1,053		14,584
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Hotels, Restaurants & Leisure - continued
Morgans Hotel Group Co. (a)	1,579		$ 20,322
MTR Gaming Group, Inc. (a)	1,922		10,379
Multimedia Games, Inc. (a)	948		5,157
O'Charleys, Inc.	1,573		17,460
P.F. Chang's China Bistro, Inc. (a)	1,244		33,066
Panera Bread Co. Class A (a)(d)	1,515		78,689
Papa John's International, Inc. (a)	1,318		38,789
Peet's Coffee & Tea, Inc. (a)	587		13,712
Penn National Gaming, Inc. (a)	4,222		195,985
PokerTek, Inc. (a)	568		1,477
Premier Exhibitions, Inc. (a)	1,302		6,432
Progressive Gaming International Corp. (a)	2,416		3,503
Red Robin Gourmet Burgers, Inc. (a)	848		28,501
Rick's Cabaret International, Inc. (a)	524		11,287
Ruth's Chris Steak House, Inc. (a)	1,086		7,667
Scientific Games Corp. Class A (a)	4,831		156,186
Shuffle Master, Inc. (a)	1,631		10,177
Sonic Corp. (a)	3,025		58,020
Starbucks Corp. (a)	36,047		655,695
Texas Roadhouse, Inc. Class A (a)	4,148		45,752
The Cheesecake Factory, Inc. (a)(d)	3,462		69,344
Town Sports International Holdings, Inc. (a)	1,521		12,670
Trump Entertainment Resorts, Inc. (a)	1,128		3,948
Wynn Resorts Ltd.	5,641		564,269
Youbet.com, Inc. (a)	1,585		2,346
			2,814,339
Household Durables - 0.4%
Avatar Holdings, Inc. (a)	364		12,620
Bassett Furniture Industries, Inc.	931		11,163
California Coastal Communities, Inc. (a)	409		1,869
Cavco Industries, Inc. (a)	270		10,349
Comstock Homebuilding Companies, Inc. Class A (a)	390		246
Craftmade International, Inc.	649		4,231
Directed Electronics, Inc. (a)	1,014		1,562
Dixie Group, Inc. (a)	767		5,599
Flexsteel Industries, Inc.	620		7,130
Garmin Ltd. (d)	10,698		520,458
Helen of Troy Ltd. (a)	1,261		22,534
Hooker Furniture Corp.	696		14,045
iRobot Corp. (a)(d)	1,378		19,320
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Household Durables - continued
Lifetime Brands, Inc.	536		$ 3,757
Makita Corp. sponsored ADR	115		4,850
Palm Harbor Homes, Inc. (a)(d)	1,659		12,559
Stanley Furniture Co., Inc.	624		7,401
Syntax-Brillian Corp. (a)(d)	3,343		2,674
Universal Electronics, Inc. (a)	813		20,666
			683,033
Internet & Catalog Retail - 1.8%
1-800-FLOWERS.com, Inc. Class A (a)	1,747		14,465
Amazon.com, Inc. (a)	20,601		1,681,454
Blue Nile, Inc. (a)	783		41,742
Celebrate Express, Inc.	802		2,390
dELiA*s, Inc. (a)	2,226		5,676
Drugstore.com, Inc. (a)	4,018		8,719
Expedia, Inc. (a)	12,971		314,547
Gaiam, Inc. Class A (a)	839		13,013
GSI Commerce, Inc. (a)	2,134		30,922
Hollywood Media Corp. (a)	1,921		4,610
IAC/InterActiveCorp (a)	12,427		280,229
Liberty Media Corp. - Interactive Series A (a)	28,508		484,351
Netflix, Inc. (a)(d)	2,987		90,685
NutriSystem, Inc. (d)	1,659		34,043
Overstock.com, Inc. (a)(d)	1,236		31,234
PC Mall, Inc. (a)	507		6,561
PetMed Express, Inc. (a)	1,380		19,251
Priceline.com, Inc. (a)	1,897		255,203
Shutterfly, Inc. (a)	1,217		17,537
Stamps.com, Inc. (a)	989		14,439
US Auto Parts Network, Inc. (a)	1,277		4,738
ValueVision Media, Inc. Class A (a)	2,128		9,384
			3,365,193
Leisure Equipment & Products - 0.1%
Arctic Cat, Inc.	607		4,801
Escalade, Inc.	749		4,681
Gametech International, Inc. (a)	660		3,445
JAKKS Pacific, Inc. (a)	1,599		37,736
Johnson Outdoors, Inc. Class A	771		11,997
Pool Corp. (d)	2,846		58,656
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Leisure Equipment & Products - continued
RC2 Corp. (a)	868		$ 16,761
Smith & Wesson Holding Corp. (a)(d)	1,759		10,149
			148,226
Media - 4.9%
ACME Communications, Inc. (a)	1,400		2,100
AirMedia Group, Inc. ADR	700		12,264
Alloy, Inc. (a)	494		4,248
Beasley Broadcast Group, Inc. Class A	689		3,238
Carmike Cinemas, Inc.	861		7,146
Central European Media Enterprises Ltd. Class A (a)	1,741		185,208
Charter Communications, Inc. Class A (a)	20,245		32,190
CKX, Inc. (a)	5,457		57,680
Comcast Corp.:
Class A	101,095		2,274,638
Class A (special) (non-vtg.)	46,672		1,040,319
Crown Media Holdings, Inc. Class A (a)(d)	3,856		19,357
CTC Media, Inc. (a)	7,504		207,711
Cumulus Media, Inc. Class A (a)(d)	2,009		10,547
DG FastChannel, Inc. (a)	697		13,689
Discovery Holding Co. Class A (a)	13,287		347,987
DISH Network Corp. Class A (a)	10,423		365,952
Emmis Communications Corp. Class A (a)	2,486		7,383
Entertainment Distribution Co., Inc. (a)	1,379		621
Fisher Communications, Inc. (a)	394		13,837
Focus Media Holding Ltd. ADR (a)	5,721		230,499
Global Sources Ltd. (d)	2,296		34,670
Global Traffic Network, Inc. (a)	1,198		11,884
Harris Interactive, Inc. (a)	4,199		7,978
IMAX Corp. (a)	2,532		18,306
Knology, Inc. (a)	2,008		29,779
Lakes Entertainment, Inc. (a)	1,385		7,714
Lamar Advertising Co. Class A (a)	3,763		157,482
Liberty Global, Inc.:
Class A (a)	8,062		289,023
Class B (a)	234		7,584
Class C (a)	8,120		274,294
Liberty Media Corp.:
- Capital Series A (a)	7,355		109,001
- Entertainment Class A (a)	24,670		666,090
LodgeNet Entertainment Corp. (a)	1,154		7,513
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Media - continued
MDC Partners, Inc. Class A (sub. vtg.) (a)	1,583		$ 12,268
Mediacom Communications Corp. Class A (a)	4,611		28,634
Morningstar, Inc. (a)	2,209		156,729
National CineMedia, Inc.	2,584		51,422
Navarre Corp. (a)	871		1,542
Net Servicos de Comunicacao SA sponsored ADR	719		10,325
New Frontier Media, Inc.	1,084		5,518
Nexstar Broadcasting Group, Inc. Class A (a)	1,166		6,705
Outdoor Channel Holdings, Inc. (a)	1,940		15,345
Private Media Group, Inc. (a)	2,365		4,233
Radio One, Inc.:
Class A (a)	1,033		1,147
Class D (non-vtg.) (a)	3,233		3,783
RCN Corp.	1,801		21,810
Regent Communication, Inc. (a)	1,974		1,935
Rentrak Corp. (a)	552		7,700
RRSat Global Communications Network Ltd.	1,101		13,586
Salem Communications Corp. Class A	1,009		2,492
Scholastic Corp. (a)	2,074		64,501
Sinclair Broadcast Group, Inc. Class A	3,537		31,727
Sirius Satellite Radio, Inc. (a)(d)	76,984		194,000
Spanish Broadcasting System, Inc. Class A (a)	1,167		1,645
The DIRECTV Group, Inc. (a)	56,167		1,578,293
Thomson Reuters PLC ADR	113		21,930
Value Line, Inc.	658		26,024
Virgin Media, Inc.	17,020		267,044
WorldSpace, Inc. Class A (a)(d)	3,301		5,315
WPP Group PLC sponsored ADR	774		46,943
WPT Enterprises, Inc. (a)	792		911
Xinhua Finance Media Ltd. sponsored ADR (a)	1,611		4,769
XM Satellite Radio Holdings, Inc. Class A (a)	14,990		159,344
Young Broadcasting, Inc. Class A (a)	630		113
			9,205,665
Multiline Retail - 0.4%
Dollar Tree, Inc. (a)	4,799		177,083
Fred's, Inc. Class A	2,231		27,999
Sears Holdings Corp. (a)(d)	6,576		557,119
The Bon-Ton Stores, Inc. (d)	647		4,309
Tuesday Morning Corp. (a)	2,430		12,587
			779,097
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Specialty Retail - 1.5%
A.C. Moore Arts & Crafts, Inc. (a)	1,286		$ 8,989
America's Car Mart, Inc. (a)	568		9,366
bebe Stores, Inc.	5,026		57,447
Bed Bath & Beyond, Inc. (a)	12,910		411,313
Big 5 Sporting Goods Corp.	1,019		9,161
Books-A-Million, Inc.	669		5,024
Cache, Inc. (a)	659		8,363
Casual Male Retail Group, Inc. (a)	1,489		6,090
Charlotte Russe Holding, Inc. (a)	1,047		19,642
Charming Shoppes, Inc. (a)	6,447		37,457
Citi Trends, Inc. (a)	548		12,166
Coldwater Creek, Inc. (a)	3,878		25,362
Conn's, Inc. (a)(d)	1,365		23,574
Cost Plus, Inc. (a)	788		2,545
Dress Barn, Inc. (a)	3,101		47,972
Eddie Bauer Holdings, Inc. (a)	2,883		13,319
Finish Line, Inc. Class A	2,102		16,669
Finlay Enterprises, Inc. (a)	1,535		1,113
Gander Mountain Co. (a)(d)	416		1,747
Golfsmith International Holdings, Inc. (a)	629		1,352
Gymboree Corp. (a)	1,359		62,704
Hastings Entertainment, Inc. (a)	1,374		11,500
Hibbett Sports, Inc. (a)	1,530		32,161
Hot Topic, Inc. (a)	2,522		13,241
Jos. A. Bank Clothiers, Inc. (a)(d)	819		22,277
Kirkland's, Inc. (a)	622		1,679
Monro Muffler Brake, Inc.	1,453		26,924
Mothers Work, Inc. (a)	235		2,858
NexCen Brands, Inc. (a)	2,467		1,628
O'Reilly Automotive, Inc. (a)	5,748		150,310
Pacific Sunwear of California, Inc. (a)	3,244		30,818
PetSmart, Inc.	6,570		154,001
Pomeroy IT Solutions, Inc. (a)	627		3,756
Rent-A-Center, Inc. (a)	3,348		70,241
Restoration Hardware, Inc. (a)	2,754		10,906
Ross Stores, Inc.	6,437		235,723
Select Comfort Corp. (a)	1,965		5,797
Shoe Carnival, Inc. (a)	605		8,833
Staples, Inc.	34,244		803,022
Stein Mart, Inc.	1,819		10,496
The Children's Place Retail Stores, Inc. (a)	1,408		48,463
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Specialty Retail - continued
The Walking Co. Holdings, Inc. (a)	428		$ 2,140
Tractor Supply Co. (a)	1,767		60,378
Trans World Entertainment Corp. (a)	1,445		3,887
Ulta Salon, Cosmetics & Fragrance, Inc.	2,500		35,650
Urban Outfitters, Inc. (a)	8,232		264,988
West Marine, Inc. (a)	829		3,731
Wet Seal, Inc. Class A (a)	6,184		27,704
Wilsons Leather Experts, Inc. (a)	2,802		392
Winmark Corp. (a)	446		7,694
Zumiez, Inc. (a)	1,415		29,658
			2,862,231
Textiles, Apparel & Luxury Goods - 0.4%
Ashworth, Inc. (a)	1,139		3,679
Blue Holdings, Inc. (a)	1,683		791
Charles & Colvard Ltd.	833		1,116
Cherokee, Inc.	583		15,875
Columbia Sportswear Co.	1,689		74,012
Crocs, Inc. (a)(d)	4,149		42,361
Deckers Outdoor Corp. (a)	635		86,817
FGX International Ltd.	888		9,155
Fossil, Inc. (a)	3,243		102,836
Fuqi International, Inc.	1,433		16,164
G-III Apparel Group Ltd. (a)	1,569		26,030
Heelys, Inc. (a)(d)	1,200		5,268
Iconix Brand Group, Inc. (a)	3,086		44,747
K-Swiss, Inc. Class A	1,132		18,135
LJ International, Inc. (a)	1,100		3,960
Lululemon Athletica, Inc. (d)	2,300		73,577
Perry Ellis International, Inc. (a)	1,045		28,487
Rocky Brands, Inc. (a)	112		656
Steven Madden Ltd. (a)	1,179		24,158
Tandy Brands Accessories, Inc.	905		4,154
True Religion Apparel, Inc. (a)(d)	1,300		32,864
Volcom, Inc. (a)	1,084		27,458
Wacoal Holdings Corp. sponsored ADR	219		14,329
Weyco Group, Inc.	909		26,152
			682,781
TOTAL CONSUMER DISCRETIONARY			22,315,316
Common Stocks - continued
	Shares		Value
CONSUMER STAPLES - 1.8%
Beverages - 0.2%
Central European Distribution Corp. (a)	2,097		$ 149,642
Coca-Cola Bottling Co. Consolidated	420		21,722
Hansen Natural Corp. (a)(d)	4,476		139,830
Jones Soda Co. (a)(d)	1,719		4,813
MGP Ingredients, Inc.	535		3,959
National Beverage Corp.	2,629		19,744
			339,710
Food & Staples Retailing - 1.1%
Andersons, Inc.	798		33,803
Arden Group, Inc. Class A	165		19,355
Casey's General Stores, Inc.	2,191		47,961
Costco Wholesale Corp.	21,280		1,517,690
Ingles Markets, Inc. Class A	792		19,293
Nash-Finch Co.	673		25,736
Pricesmart, Inc.	1,592		37,476
Spartan Stores, Inc.	1,290		30,934
Susser Holdings Corp. (a)	716		8,506
The Pantry, Inc. (a)	1,114		13,591
United Natural Foods, Inc. (a)	2,084		44,327
Village Super Market, Inc. Class A	214		10,026
Whole Foods Market, Inc.	6,639		192,531
Winn-Dixie Stores, Inc. (a)	2,651		47,851
			2,049,080
Food Products - 0.3%
AgFeed Industries, Inc. (a)(d)	1,257		19,320
Alico, Inc.	403		16,092
Bridgford Foods Corp. (a)	433		2,888
Cal-Maine Foods, Inc. (d)	1,338		41,746
Calavo Growers, Inc.	1,103		16,170
Cresud S.A.C.I.F. y A. sponsored ADR	2,720		39,522
Diamond Foods, Inc.	1,078		22,099
Farmer Brothers Co.	1,034		24,661
Green Mountain Coffee Roasters, Inc. (a)	1,176		50,756
Griffin Land & Nurseries, Inc.	256		8,904
Hain Celestial Group, Inc. (a)	1,938		55,756
Imperial Sugar Co.	582		8,439
J&J Snack Foods Corp.	1,122		32,594
John B. Sanfilippo & Son, Inc. (a)	308		2,858
Lancaster Colony Corp.	1,284		42,077
Lance, Inc.	1,683		35,192
Common Stocks - continued
	Shares		Value
CONSUMER STAPLES - continued
Food Products - continued
Lifeway Foods, Inc. (a)	1,041		$ 13,460
Origin Agritech Ltd. (a)(d)	627		3,969
Sanderson Farms, Inc.	1,101		54,973
Smart Balance, Inc. (a)	3,265		27,034
SunOpta, Inc. (a)	2,745		18,172
Synutra International, Inc. (a)(d)	2,607		85,536
Zhongpin, Inc. (a)	1,200		13,800
			636,018
Household Products - 0.0%
Central Garden & Pet Co. (a)	1,189		9,512
Central Garden & Pet Co. Class A (non-vtg.) (a)	4,163		31,056
WD-40 Co.	1,101		38,139
			78,707
Personal Products - 0.2%
Bare Escentuals, Inc. (a)(d)	4,373		87,722
Chattem, Inc. (a)	971		60,406
Elizabeth Arden, Inc. (a)	1,487		22,320
Inter Parfums, Inc.	1,235		31,085
Mannatech, Inc. (d)	1,708		10,795
Nutraceutical International Corp. (a)	1,319		17,450
Parlux Fragrances, Inc. (a)	684		2,305
Physicians Formula Holdings, Inc. (a)	1,230		12,325
Reliv International, Inc.	923		5,372
USANA Health Sciences, Inc. (a)(d)	763		19,418
			269,198
Tobacco - 0.0%
Star Scientific, Inc. (a)	3,889		7,545
TOTAL CONSUMER STAPLES			3,380,258
ENERGY - 1.9%
Energy Equipment & Services - 0.5%
Acergy SA sponsored ADR	1,918		49,734
Bronco Drilling Co., Inc. (a)	1,169		21,252
Dawson Geophysical Co. (a)	467		31,891
Exterran Partners LP	503		16,026
Global Industries Ltd. (a)	5,374		92,702
Gulf Island Fabrication, Inc.	823		34,056
Hercules Offshore, Inc. (a)	4,485		152,131
Lufkin Industries, Inc.	719		57,362
Common Stocks - continued
	Shares		Value
ENERGY - continued
Energy Equipment & Services - continued
Matrix Service Co. (a)	1,195		$ 28,811
Mitcham Industries, Inc. (a)	452		9,619
Omni Energy Services Corp. (a)	884		5,003
OYO Geospace Corp. (a)	311		17,547
Patterson-UTI Energy, Inc.	7,220		227,286
PHI, Inc. (non-vtg.) (a)	627		24,591
Superior Well Services, Inc. (a)	1,258		31,123
T-3 Energy Services, Inc. (a)	650		42,068
Tesco Corp. (a)	1,869		61,836
TGC Industries, Inc.	1,140		7,900
Trico Marine Services, Inc. (a)	800		30,712
Union Drilling, Inc. (a)	1,261		23,682
			965,332
Oil, Gas & Consumable Fuels - 1.4%
Alliance Holdings GP, LP	2,990		83,272
Alliance Resource Partners LP	1,734		79,348
APCO Argentina, Inc.	1,412		36,147
Approach Resources, Inc.	1,152		25,851
Atlas America, Inc.	1,964		134,789
ATP Oil & Gas Corp. (a)	1,833		78,177
BreitBurn Energy Partners LP	3,856		82,904
Brigham Exploration Co. (a)	2,496		36,367
Calumet Specialty Products Partners LP	793		12,569
Capital Product Partners LP	1,095		22,250
Carrizo Oil & Gas, Inc. (a)	1,458		97,628
Clayton Williams Energy, Inc. (a)	543		51,189
Clean Energy Fuels Corp. (d)	2,200		32,890
Copano Energy LLC	2,381		87,740
CREDO Petroleum Corp. (a)	469		7,588
Crosstex Energy LP	2,450		75,191
Crosstex Energy, Inc.	2,399		81,878
Dampskibsselskabet TORM AS sponsored ADR	138		4,579
Delta Petroleum Corp. (a)(d)	5,447		120,379
Dorchester Minerals LP	1,275		35,534
Double Eagle Petroleum Co. (a)	564		11,178
Eagle Rock Energy Partners LP	2,453		42,486
Edge Petroleum Corp. (a)	838		4,408
Energy XXI (Bermuda) Ltd. (a)(d)	4,808		33,896
EV Energy Partners LP	469		14,656
FX Energy, Inc. (a)	1,820		9,519
Common Stocks - continued
	Shares		Value
ENERGY - continued
Oil, Gas & Consumable Fuels - continued
Geomet, Inc. (a)	2,493		$ 20,542
Georesources, Inc. (a)	687		17,443
GMX Resources, Inc. (a)	754		36,396
Golar LNG Ltd. (NASDAQ)	3,452		63,413
Green Plains Renewable Energy, Inc. (a)	167		1,488
Gulfport Energy Corp. (a)	1,858		28,260
Hiland Holdings GP LP	929		25,037
Hiland Partners LP	290		14,497
Inergy Holdings LP	831		33,032
Inergy LP	2,393		67,267
Ivanhoe Energy, Inc. (a)	12,943		36,240
James River Coal Co. (a)	1,234		47,003
Knightsbridge Tankers Ltd. (d)	1,038		35,074
Legacy Reserves LP	1,546		35,604
Linn Energy LLC	6,196		140,463
Marine Petroleum Trust	475		16,578
Martin Midstream Partners LP	910		31,377
NGAS Resources, Inc. (a)	1,100		10,021
Pacific Ethanol, Inc. (a)(d)	1,754		6,209
Parallel Petroleum Corp. (a)	2,239		47,041
Petroleum Development Corp. (a)	897		61,983
PrimeEnergy Corp. (a)	116		7,307
Quest Resource Corp. (a)	2,097		23,298
Ram Energy Resources, Inc. (a)	5,042		29,042
Regency Energy Partners LP	1,848		49,914
Rex Energy Corp.	1,450		32,422
Rosetta Resources, Inc. (a)	2,757		74,246
Semgroup Energy Partners LP	1,438		39,171
StealthGas, Inc.	1,288		21,922
Syntroleum Corp. (a)	2,008		4,578
Targa Resources Partners LP	1,915		50,805
TC Pipelines LP	1,681		59,423
TEL Offshore Trust	435		12,741
Top Ships, Inc. (a)	1,897		16,883
Toreador Resources Corp. (a)	610		5,624
TransGlobe Energy Corp. (a)	2,800		14,486
TXCO Resources, Inc. (a)	1,800		19,926
Uranium Resources, Inc. (a)	2,300		10,235
Common Stocks - continued
	Shares		Value
ENERGY - continued
Oil, Gas & Consumable Fuels - continued
Verenium Corp. (a)(d)	2,561		$ 6,146
Warren Resources, Inc. (a)	3,124		42,236
			2,597,786
TOTAL ENERGY			3,563,118
FINANCIALS - 8.5%
Capital Markets - 2.5%
American Capital Strategies Ltd. (d)	9,462		302,784
American Physicians Service Group, Inc.	616		13,460
BGC Partners, Inc. Class A (a)	2,546		22,710
Broadpoint Securities Group, Inc. (a)	714		1,892
Calamos Asset Management, Inc. Class A	978		19,785
Capital Southwest Corp.	223		26,869
Charles Schwab Corp.	57,276		1,270,382
Cowen Group, Inc. (a)	832		6,606
Diamond Hill Investment Group, Inc. (a)	178		16,723
E*TRADE Financial Corp. (a)(d)	22,208		91,053
Epoch Holding Corp.	1,309		13,967
FBR Capital Markets Corp. (d)	3,144		16,129
FCStone Group, Inc. (a)	1,460		57,130
FirstCity Financial Corp. (a)	1,173		5,114
GFI Group, Inc.	5,532		65,499
Harris & Harris Group, Inc. (a)	1,045		8,329
International Assets Holding Corp. (a)	462		12,640
Knight Capital Group, Inc. Class A (a)	4,836		86,129
Northern Trust Corp.	10,917		829,692
optionsXpress Holdings, Inc.	3,106		70,941
Penson Worldwide, Inc. (a)	1,030		13,802
Prospect Capital Corp.	1,603		23,179
Sanders Morris Harris Group, Inc.	903		6,592
SEI Investments Co.	9,898		238,740
Siebert Financial Corp.	2,067		7,214
T. Rowe Price Group, Inc.	12,911		747,805
TD Ameritrade Holding Corp. (a)	29,482		533,919
Thomas Weisel Partners Group, Inc. (a)	1,112		7,584
TradeStation Group, Inc. (a)	2,552		26,873
U.S. Global Investments, Inc. Class A	870		13,137
			4,556,679
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Commercial Banks - 3.1%
1st Source Corp.	1,276		$ 27,868
Alliance Financial Corp.	376		8,889
Amcore Financial, Inc.	1,053		10,319
American National Bankshares, Inc.	549		9,750
American River Bankshares	652		9,011
AmericanWest Bancorp	569		1,906
Ameris Bancorp	898		12,464
AmeriServ Financial, Inc. (a)	1,045		3,125
Ames National Corp.	710		15,620
Appalachian Bancshares, Inc. (a)	419		3,595
Arrow Financial Corp.	826		18,585
Associated Banc-Corp.	5,764		157,415
BancFirst Corp.	679		29,489
Bancorp Rhode Island, Inc.	616		20,476
Bancorp, Inc., Delaware (a)	516		5,495
BancTrust Financial Group, Inc.	1,124		11,307
Bank of Florida Corp. (a)	413		4,130
Bank of Granite Corp.	972		9,885
Bank of Marin Bancorp	303		8,669
Bank of the Ozarks, Inc.	708		17,254
Banner Corp.	703		12,788
BNC Bancorp	475		6,531
BOK Financial Corp.	3,198		186,220
Boston Private Financial Holdings, Inc.	1,870		15,764
Bridge Capital Holdings (a)	707		10,464
Bryn Mawr Bank Corp.	302		6,357
Cadence Financial Corp.	596		8,290
Capital Bank Corp.	729		7,589
Capital City Bank Group, Inc. (d)	991		26,519
Capital Corp. of the West	663		3,865
Cardinal Financial Corp.	1,972		16,939
Cascade Bancorp (d)	1,338		11,734
Cascade Financial Corp.	1,011		9,099
Cathay General Bancorp	2,260		34,759
Center Bancorp, Inc.	578		5,589
Center Financial Corp., California	793		7,422
Centerstate Banks of Florida, Inc.	583		8,168
Century Bancorp, Inc. Class A (non-vtg.)	318		5,835
Chemical Financial Corp.	1,087		26,523
Chicopee Bancorp, Inc. (a)	265		3,530
Citizens & Northern Corp.	300		5,865
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Commercial Banks - continued
Citizens Banking Corp., Michigan	4,243		$ 23,506
City Bank Lynnwood, Washington	1,023		14,813
City Holding Co.	826		35,535
CNB Financial Corp., Pennsylvania	587		8,359
CoBiz, Inc.	1,170		12,379
Colony Bankcorp, Inc.	217		2,452
Columbia Bancorp, Oregon	853		9,733
Columbia Banking Systems, Inc.	1,024		27,372
Commerce Bancshares, Inc.	3,520		154,598
Commonwealth Bankshares, Inc.	311		4,587
Community Bancorp (a)	420		3,356
Community Trust Bancorp, Inc.	692		21,203
Community Valley Bancorp	207		1,805
CVB Financial Corp.	4,185		44,361
Dearborn Bancorp, Inc. (a)	465		2,813
Eagle Bancorp, Inc., Maryland	530		5,920
East West Bancorp, Inc.	3,240		42,898
Eastern Virgina Bankshares, Inc.	469		7,903
Enterprise Financial Services Corp.	830		16,642
EuroBancshares, Inc. (a)	1,284		7,139
Fidelity Southern Corp.	442		2,864
Fifth Third Bancorp	26,250		490,875
Financial Institutions, Inc.	425		7,824
First Bancorp, North Carolina	705		11,851
First Charter Corp. (d)	1,647		50,695
First Citizen Bancshares, Inc.	431		68,719
First Community Bancshares, Inc.	757		25,730
First Financial Bancorp, Ohio	2,353		26,801
First Financial Bankshares, Inc.	1,100		50,380
First Financial Corp., Indiana	705		23,089
First M&F Corp.	312		4,362
First Mariner Bancorp, Inc. (a)	782		3,144
First Merchants Corp.	857		21,211
First Midwest Bancorp, Inc., Delaware	2,192		57,211
First of Long Island Corp.	572		11,995
First Regional Bancorp (a)	783		8,355
First Security Group, Inc.	566		4,437
First South Bancorp, Inc., Virginia (d)	1,134		21,841
First State Bancorp.	1,395		10,811
First United Corp.	493		9,160
Firstbank Corp., Michigan	489		6,161
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Commercial Banks - continued
FirstMerit Corp.	4,054		$ 81,931
FNB Corp., North Carolina	602		6,056
Frontier Financial Corp., Washington (d)	1,997		29,356
Fulton Financial Corp.	8,486		107,093
Gateway Financial Holdings, Inc.	1,104		10,963
German American Bancorp, Inc.	686		8,561
Glacier Bancorp, Inc.	2,530		52,472
Great Southern Bancorp, Inc.	844		9,748
Greater Community Bancorp	831		14,459
Green Bankshares, Inc.	795		15,399
Grupo Financiero Galicia SA sponsored ADR (a)	2,672		14,215
Guaranty Bancorp (a)	2,883		17,269
Hampton Roads Bankshares, Inc.	1,260		14,805
Hancock Holding Co.	1,547		68,826
Hanmi Financial Corp.	2,206		14,118
Harleysville National Corp., Pennsylvania	1,666		22,591
Hawthorn Bancshares, Inc.	288		7,776
Heartland Financial USA, Inc.	917		21,458
Heritage Commerce Corp.	1,434		22,829
Heritage Financial Corp., Washington	369		6,188
Home Bancshares, Inc.	1,306		30,038
Horizon Financial Corp.	950		10,279
Huntington Bancshares, Inc.	18,720		166,795
IBERIABANK Corp.	597		31,486
Independent Bank Corp., Massachusetts	1,175		34,428
Independent Bank Corp., Michigan	1,341		8,059
Integra Bank Corp.	932		13,393
International Bancshares Corp.	3,351		84,914
Intervest Bancshares Corp. Class A	539		4,727
Investors Bancorp, Inc. (a)	5,338		76,280
Lakeland Bancorp, Inc.	1,703		25,102
Lakeland Financial Corp.	764		18,283
LNB Bancorp, Inc.	836		9,196
Macatawa Bank Corp.	639		5,745
MainSource Financial Group, Inc.	1,206		20,237
MB Financial, Inc.	1,710		48,684
MBT Financial Corp.	578		4,890
Mercantile Bank Corp.	476		4,003
Merchants Bancshares, Inc.	610		14,018
Metrocorp Bancshares, Inc.	399		5,127
Middleburg Financial Corp.	329		7,567
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Commercial Banks - continued
Midwest Banc Holdings, Inc.	1,241		$ 10,896
Nara Bancorp, Inc.	1,677		21,331
National Bankshares, Inc.	287		5,109
National Penn Bancshares, Inc.	4,045		69,250
NBT Bancorp, Inc.	1,572		38,545
NewBridge Bancorp	1,464		13,542
Nexity Financial Corp. (a)	435		2,427
North Valley Bancorp	582		5,314
Northern States Financial Corp.	462		8,307
Northfield Bancorp, Inc. (a)	2,386		26,771
Northrim Bancorp, Inc.	360		6,750
Old Point Financial Corp.	453		7,869
Old Second Bancorp, Inc.	929		17,642
PAB Bankshares, Inc.	567		6,555
Pacific Capital Bancorp	2,273		45,324
Pacific Continental Corp.	508		7,584
Pacific Mercantile Bancorp	562		5,137
PacWest Bancorp	1,312		27,657
Patriot National Bancorp, Inc.	549		8,372
Penns Woods Bancorp, Inc.	361		10,978
Pennsylvania Communication Bancorp, Inc. (a)	500		13,430
Peoples Bancorp, Inc.	541		12,816
Pinnacle Financial Partners, Inc. (a)(d)	1,397		37,565
Popular, Inc. (d)	14,299		155,859
Preferred Bank, Los Angeles California	632		5,637
PremierWest Bancorp	784		6,735
PrivateBancorp, Inc. (d)	1,369		51,858
Prosperity Bancshares, Inc.	2,296		73,334
Provident Bankshares Corp.	1,647		15,745
Renasant Corp.	1,049		24,358
Republic Bancorp, Inc., Kentucky Class A	1,282		31,922
Republic First Bancorp, Inc.	530		2,470
Royal Bancshares of Pennsylvania, Inc. Class A	504		4,793
Rurban Financial Corp.	723		7,671
S&T Bancorp, Inc.	1,172		38,102
S.Y. Bancorp, Inc.	985		24,852
Sandy Spring Bancorp, Inc.	894		23,673
SCBT Financial Corp.	475		15,818
Seacoast Banking Corp., Florida (d)	1,020		10,965
Security Bank Corp., Georgia	948		5,214
Shore Bancshares, Inc.	285		6,757
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Commercial Banks - continued
Sierra Bancorp	727		$ 16,016
Signature Bank, New York (a)	1,519		43,352
Silver State Bancorp (a)	673		1,972
Simmons First National Corp. Class A	784		23,857
Smithtown Bancorp, Inc.	359		7,399
South Financial Group, Inc.	3,652		20,123
Southcoast Financial Corp.	534		7,679
Southern Community Financial Corp.	910		6,516
Southside Bancshares, Inc.	753		16,483
Southwest Bancorp, Inc., Oklahoma	811		13,755
State Bancorp, Inc., New York	646		9,012
StellarOne Corp.	1,399		24,175
Sterling Bancshares, Inc.	3,968		40,553
Sterling Financial Corp., Washington	3,024		26,853
Suffolk Bancorp	730		24,572
Summit Financial Group, Inc.	583		7,474
Sun Bancorp, Inc., New Jersey	1,317		14,408
Superior Bancorp	529		7,834
Susquehanna Bancshares, Inc., Pennsylvania	4,283		82,448
SVB Financial Group (a)	1,557		79,796
Taylor Capital Group, Inc.	670		8,610
Temecula Valley Bancorp, Inc. (d)	461		2,775
Tennessee Commerce Bancorp, Inc. (a)	494		7,736
Texas Capital Bancshares, Inc. (a)	1,454		26,346
The First Bancorp, Inc.	596		10,656
TIB Financial Corp.	776		4,974
Trico Bancshares	716		11,800
Trustmark Corp.	2,587		51,637
UCBH Holdings, Inc.	4,873		23,780
UMB Financial Corp.	1,932		100,792
Umpqua Holdings Corp. (d)	3,440		47,954
Union Bankshares Corp.	660		13,233
United Bankshares, Inc., West Virginia	2,148		60,982
United Community Banks, Inc., Georgia (d)	2,188		22,886
United Security Bancshares, Inc.	450		7,902
United Security Bancshares, California (d)	896		13,359
Univest Corp. of Pennsylvania	1,062		26,083
Vineyard National Bancorp (d)	1,503		4,554
Virginia Commerce Bancorp, Inc.	1,689		10,218
VIST Financial Corp.	512		8,586
Washington Banking Co., Oak Harbor	401		5,221
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Commercial Banks - continued
Washington Trust Bancorp, Inc.	617		$ 14,604
WesBanco, Inc.	1,622		35,684
West Bancorp., Inc.	862		10,344
West Coast Bancorp, Oregon	948		10,968
Westamerica Bancorp.	1,361		75,536
Whitney Holding Corp.	3,087		70,137
Wilshire Bancorp, Inc.	1,594		14,234
Wintrust Financial Corp.	1,107		34,516
Yadkin Valley Financial Corp.	667		10,132
Zions Bancorp	5,129		221,009
			5,695,815
Consumer Finance - 0.1%
Advanta Corp.:
Class A	639		5,048
Class B	1,474		12,824
Cardtronics, Inc.	1,973		19,454
Cash Systems, Inc. (a)	2,445		929
CompuCredit Corp. (a)(d)	2,165		19,875
Consumer Portfolio Services, Inc. (a)	1,184		3,374
Credit Acceptance Corp. (a)(d)	1,418		37,024
Dollar Financial Corp. (a)	1,044		20,807
EZCORP, Inc. (non-vtg.) Class A (a)	2,261		28,556
First Cash Financial Services, Inc. (a)	1,531		23,562
MRU Holdings, Inc. (a)	1,159		3,234
Nicholas Financial, Inc. (a)	537		3,716
QC Holdings, Inc.	1,007		8,358
United Panam Financial Corp. (a)	805		2,987
World Acceptance Corp. (a)	779		34,447
			224,195
Diversified Financial Services - 0.4%
Ampal-American Israel Corp. Class A (a)	2,681		15,228
Asset Acceptance Capital Corp.	1,529		21,544
Asta Funding, Inc.	686		5,605
California First National Bancorp	627		5,957
Compass Diversified Holdings	1,811		24,811
Elron Electronic Industries Ltd. (a)	1,076		9,598
Encore Capital Group, Inc. (a)	1,859		19,650
Interactive Brokers Group, Inc.	2,082		67,811
MarketAxess Holdings, Inc. (a)	1,552		12,137
Marlin Business Services Corp. (a)	759		5,419
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Diversified Financial Services - continued
Medallion Financial Corp.	876		$ 8,453
NewStar Financial, Inc. (a)	3,159		16,995
PICO Holdings, Inc. (a)	1,121		46,477
Portfolio Recovery Associates, Inc. (d)	701		28,804
Resource America, Inc. Class A	1,085		10,893
The NASDAQ Stock Market, Inc. (a)	9,963		349,004
			648,386
Insurance - 1.1%
21st Century Holding Co.	425		4,365
Affirmative Insurance Holdings, Inc.	860		6,674
Amcomp, Inc. (a)	816		9,049
American National Insurance Co.	1,298		143,130
American Physicians Capital, Inc.	634		28,860
Amerisafe, Inc. (a)	784		12,458
Amtrust Financial Services, Inc.	3,009		45,015
Arch Capital Group Ltd. (a)	3,300		232,188
Argo Group International Holdings, Ltd. (a)	1,578		60,895
Baldwin & Lyons, Inc. Class B	518		11,246
Brooke Corp.	617		697
CastlePoint Holdings Ltd.	1,600		17,264
Cincinnati Financial Corp.	7,892		276,378
CNinsure, Inc. ADR	855		13,372
CRM Holdings Ltd. (a)	727		2,515
Donegal Group, Inc. Class A	1,114		19,952
Eastern Insurance Holdings, Inc.	468		7,652
eHealth, Inc. (a)	1,376		34,304
EMC Insurance Group	882		24,722
Enstar Group Ltd. (a)	612		65,325
Erie Indemnity Co. Class A	2,554		130,739
FPIC Insurance Group, Inc. (a)	638		29,035
Greenlight Capital Re, Ltd.	1,407		27,732
Hallmark Financial Services, Inc. (a)	1,598		20,295
Harleysville Group, Inc.	1,578		61,558
Infinity Property & Casualty Corp.	878		35,401
IPC Holdings Ltd.	2,720		77,248
Kansas City Life Insurance Co.	582		30,572
Life Partners Holdings, Inc. (d)	521		11,436
Max Capital Group Ltd.	2,695		65,003
Mercer Insurance Group, Inc.	261		4,659
National Atlantic Holdings Corp. Class A (a)	731		4,430
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Insurance - continued
National Interstate Corp.	862		$ 19,792
National Western Life Insurance Co. Class A	180		42,440
Navigators Group, Inc. (a)	727		36,706
Philadelphia Consolidated Holdings Corp. (a)	3,444		128,289
PMA Capital Corp. Class A (a)	1,857		18,533
Presidential Life Corp.	1,433		25,249
ProCentury Corp.	629		11,077
Quanta Capital Holdings Ltd. (a)	6,418		17,136
RAM Holdings Ltd. (a)	1,178		1,473
Safety Insurance Group, Inc.	717		27,719
SeaBright Insurance Holdings, Inc. (a)	1,184		18,139
Selective Insurance Group, Inc.	2,701		59,098
Specialty Underwriters' Alliance, Inc. (a)	776		3,694
State Auto Financial Corp.	1,844		50,802
Tower Group, Inc.	1,222		31,858
United America Indemnity Ltd. Class A (a)	1,087		15,838
United Fire & Casualty Co.	1,401		50,562
			2,072,574
Real Estate Investment Trusts - 0.0%
Gladstone Commercial Corp.	882		15,902
Investors Real Estate Trust	4,086		42,740
Mission West Properties, Inc.	981		11,507
Monmouth Real Estate Investment Corp. Class A	1,800		12,690
Origen Financial, Inc.	1,905		2,858
			85,697
Real Estate Management & Development - 0.1%
Elbit Imaging Ltd.	1,292		71,951
FirstService Corp. (sub. vtg.)	1,604		26,994
FX Real Estate & Entertainment, Inc. (a)	2,537		9,920
Housevalues, Inc. (a)	700		1,911
Meruelo Maddux Properties, Inc. (a)	4,020		11,256
Stratus Properties, Inc. (a)	335		8,874
Thomas Properties Group, Inc.	2,004		20,761
ZipRealty, Inc. (a)	624		3,001
			154,668
Thrifts & Mortgage Finance - 1.2%
Abington Bancorp, Inc.	1,073		10,762
American Bancorp of New Jersey, Inc.	850		9,622
Anchor BanCorp Wisconsin, Inc.	960		13,469
Atlantic Coast Federal Corp.	668		5,818
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Thrifts & Mortgage Finance - continued
Bank Mutual Corp.	2,925		$ 32,438
BankFinancial Corp.	1,166		17,362
BankUnited Financial Corp. Class A (d)	1,780		5,607
Beneficial Mutual Bancorp, Inc. (a)	4,923		56,811
Benjamin Franklin Bancorp, Inc.	462		6,237
Berkshire Bancorp, Inc.	927		14,183
Berkshire Hills Bancorp, Inc.	848		21,463
Beverly Hills Bancorp, Inc.	596		1,490
Brookline Bancorp, Inc., Delaware	2,646		26,592
Brooklyn Federal Bancorp, Inc.	773		10,397
Camco Financial Corp.	727		8,797
Capitol Federal Financial	3,446		141,286
CFS Bancorp, Inc.	485		6,926
Citizens First Bancorp, Inc., Delaware	345		2,556
Citizens South Banking Corp., Delaware	637		5,841
Clayton Holdings, Inc. (a)	1,314		7,739
Clifton Savings Bancorp, Inc.	1,352		13,777
Cooperative Bankshares, Inc.	391		3,324
Corus Bankshares, Inc. (d)	2,658		15,284
Dime Community Bancshares, Inc.	1,804		32,797
ESB Financial Corp.	1,247		13,455
First Busey Corp. (d)	1,609		29,316
First Defiance Financial Corp.	519		10,037
First Federal Bancshares of Arkansas, Inc.	569		7,130
First Financial Holdings, Inc.	912		22,873
First Financial Service Corp.	413		8,743
First Niagara Financial Group, Inc.	5,442		77,113
First PacTrust Bancorp, Inc.	595		9,502
First Place Financial Corp.	740		9,420
Flushing Financial Corp.	1,320		25,898
Fox Chase Bancorp, Inc. (a)	558		7,003
Franklin Bank Corp. (a)	1,290		1,316
Heritage Financial Group	814		10,110
HMN Financial, Inc.	448		7,437
Home Federal Bancorp, Inc.	1,753		20,510
Hudson City Bancorp, Inc.	25,694		457,353
K-Fed Bancorp	734		8,353
Kearny Financial Corp.	3,732		43,440
Legacy Bancorp, Inc.	898		12,123
LSB Corp.	631		10,033
MASSBANK Corp.	367		14,452
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Thrifts & Mortgage Finance - continued
MutualFirst Financial, Inc.	550		$ 5,610
NASB Financial, Inc.	336		8,585
Northeast Community Bancorp, Inc.	544		6,310
Northwest Bancorp, Inc.	2,315		56,787
OceanFirst Financial Corp.	1,038		21,310
Oritani Financial Corp. (a)	1,950		30,420
Pamrapo Bancorp, Inc.	666		9,997
Parkvale Financial Corp.	256		6,715
People's United Financial, Inc.	16,728		276,514
Provident Financial Holdings, Inc.	315		4,073
Provident New York Bancorp	2,528		32,889
Prudential Bancorp, Inc. of Pennsylvania	635		7,633
Pulaski Financial Corp.	484		5,493
PVF Capital Corp.	500		5,255
Riverview Bancorp, Inc.	1,020		9,098
Rockville Financial, Inc.	1,881		26,033
Roma Financial Corp.	1,827		27,076
Rome Bancorp, Inc.	1,067		12,484
Severn Bancorp, Inc.	677		5,118
SI Financial Group, Inc.	1,167		11,448
TFS Financial Corp.	16,447		204,436
TierOne Corp.	794		5,693
Timberland Bancorp, Inc.	250		2,745
Triad Guaranty, Inc. (a)	653		1,443
Trustco Bank Corp., New York (d)	4,338		38,001
United Community Financial Corp., Ohio	1,881		11,418
United Financial Bancorp, Inc.	942		11,521
United Western Bancorp, Inc.	373		6,438
ViewPoint Financial Group	1,624		26,293
Washington Federal, Inc.	3,950		88,441
Wauwatosa Holdings, Inc. (a)	2,022		26,428
Westfield Financial, Inc.	2,891		28,390
Willow Financial Bancorp, Inc.	911		8,755
WSFS Financial Corp.	244		12,432
			2,317,477
TOTAL FINANCIALS			15,755,491
HEALTH CARE - 12.7%
Biotechnology - 6.4%
3SBio, Inc. sponsored ADR (a)	740		8,007
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Biotechnology - continued
Aastrom Biosciences, Inc. (a)	3,712		$ 1,451
Abraxis BioScience, Inc. (a)	1,895		123,061
Acadia Pharmaceuticals, Inc. (a)	2,336		20,557
Accentia Biopharmaceutical, Inc. (a)(d)	4,290		4,376
Achillion Pharmaceuticals, Inc. (a)	2,091		6,398
Acorda Therapeutics, Inc. (a)	1,590		34,280
AEterna Zentaris, Inc. (sub. vtg.) (a)	3,891		5,640
Affymax, Inc. (a)	700		10,437
Alexion Pharmaceuticals, Inc. (a)	1,991		142,058
Alkermes, Inc. (a)	4,738		60,030
Allos Therapeutics, Inc. (a)	5,420		34,363
Alnylam Pharmaceuticals, Inc. (a)	2,094		60,475
Altus Pharmaceuticals, Inc. (a)	1,380		5,920
Amgen, Inc. (a)	53,531		2,356,970
Amicus Therapeutics, Inc. (d)	1,041		10,826
Amylin Pharmaceuticals, Inc. (a)	6,501		206,537
Anadys Pharmaceuticals, Inc. (a)	1,141		3,320
Antigenics, Inc. (a)(d)	2,149		4,964
Arena Pharmaceuticals, Inc. (a)	4,370		22,418
ARIAD Pharmaceuticals, Inc. (a)	5,143		13,269
ArQule, Inc. (a)	2,255		9,651
Array Biopharma, Inc. (a)	2,535		15,768
AVI BioPharma, Inc. (a)	1,700		2,380
Avigen, Inc. (a)	1,684		5,001
BELLUS Health, Inc. (a)(d)	2,029		3,308
BioCryst Pharmaceuticals, Inc. (a)	2,702		7,944
Biogen Idec, Inc. (a)	14,710		923,053
BioMarin Pharmaceutical, Inc. (a)	4,944		188,712
Bionovo, Inc. (a)	3,200		3,168
Biosante Pharmaceuticals, Inc. (a)	2,732		10,901
BioSphere Medical, Inc. (a)	611		2,145
Celgene Corp. (a)	21,458		1,305,934
Cell Genesys, Inc. (a)	4,799		16,988
Cell Therapeutics, Inc. (a)(d)	1,286		763
Cephalon, Inc. (a)	3,426		231,974
Cepheid, Inc. (a)	2,665		70,143
Combinatorx, Inc. (a)	3,329		12,151
Cougar Biotechnology, Inc. (a)	1,326		35,829
Critical Therapeutics, Inc. (a)	1,487		461
Crucell NV sponsored ADR (a)	512		9,784
Cubist Pharmaceuticals, Inc. (a)	3,278		62,479
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Biotechnology - continued
CuraGen Corp. (a)	4,368		$ 4,892
Curis, Inc. (a)	1,951		2,868
CV Therapeutics, Inc. (a)	3,316		29,280
Cyclacel Pharmaceuticals, Inc. (a)	732		1,530
Cytokinetics, Inc. (a)	2,756		11,079
Cytori Therapeutics, Inc. (a)	2,326		17,492
CytRx Corp.	5,744		5,055
deCODE genetics, Inc. (a)	4,814		5,584
Dendreon Corp. (a)(d)	3,991		20,753
DUSA Pharmaceuticals, Inc. (a)	923		1,828
Dyax Corp. (a)	2,655		9,770
Dynavax Technologies Corp. (a)	1,807		2,927
Encysive Pharmaceuticals, Inc. (a)	2,504		5,884
EntreMed, Inc. (a)	4,673		3,362
Enzon Pharmaceuticals, Inc. (a)	2,870		25,256
EPIX Pharmaceuticals, Inc. (a)	1,392		3,048
Exact Sciences Corp. (a)	1,230		2,435
Favrille, Inc. (a)	1,560		152
Genelabs Technologies, Inc. (a)	713		649
Genitope Corp. (a)	3,647		365
Genomic Health, Inc. (a)	1,567		27,109
Gentium SpA sponsored ADR (a)	138		925
GenVec, Inc. (a)	4,370		7,822
Genzyme Corp. (a)	13,143		899,770
Geron Corp. (a)(d)	4,277		18,177
Gilead Sciences, Inc. (a)	45,799		2,533,601
GTx, Inc. (a)(d)	1,868		28,057
Halozyme Therapeutics, Inc. (a)	3,400		17,612
Hana Biosciences, Inc. (a)	1,626		1,366
Human Genome Sciences, Inc. (a)	6,500		38,220
Idenix Pharmaceuticals, Inc. (a)	2,306		15,081
Idera Pharmaceuticals, Inc. (a)(d)	1,841		27,615
ImClone Systems, Inc. (a)	4,360		190,009
ImmunoGen, Inc. (a)	2,035		9,259
Immunomedics, Inc. (a)	4,527		12,087
Incyte Corp. (a)	4,105		39,860
Indevus Pharmaceuticals, Inc. (a)	3,541		15,899
Infinity Pharmaceuticals, Inc. (a)	762		5,601
Inhibitex, Inc. (a)	1,533		996
Insmed, Inc. (a)	5,357		3,214
InterMune, Inc. (a)	1,746		24,619
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Biotechnology - continued
Introgen Therapeutics, Inc. (a)	1,380		$ 2,829
Isis Pharmaceuticals, Inc. (a)	4,385		62,004
Keryx Biopharmaceuticals, Inc. (a)	1,806		921
Kosan Biosciences, Inc. (a)	2,686		14,558
La Jolla Pharmaceutical Co. (a)	3,934		7,514
Lexicon Pharmaceuticals, Inc. (a)	5,575		11,763
Ligand Pharmaceuticals, Inc. Class B	6,083		21,351
MannKind Corp. (a)(d)	4,635		13,905
Marshall Edwards, Inc. (a)	1,945		5,504
Martek Biosciences (a)	1,771		66,873
Maxygen, Inc. (a)	2,330		13,724
Medarex, Inc. (a)	5,999		52,251
Memory Pharmaceuticals Corp. (a)	4,800		2,405
Metabasis Therapeutics, Inc. (a)	1,518		2,687
Metabolix, Inc. (a)	1,176		13,195
Micromet, Inc. (a)	415		1,004
Molecular Insight Pharmaceuticals, Inc. (a)	1,312		9,236
Momenta Pharmaceuticals, Inc. (a)	1,763		22,602
Monogram Biosciences, Inc. (a)	6,461		7,107
Myriad Genetics, Inc. (a)	2,342		113,400
Nabi Biopharmaceuticals (a)	3,990		16,519
Neopharm, Inc. (a)	731		446
Neose Technologies, Inc. (a)	1,126		664
Neurocrine Biosciences, Inc. (a)	1,633		8,051
Neurogen Corp. (a)	1,639		1,360
NeurogesX, Inc.	1,369		4,655
Northfield Laboratories, Inc. (a)	1,696		1,509
Novacea, Inc. (a)	1,752		5,676
Novavax, Inc. (a)	2,057		6,171
NPS Pharmaceuticals, Inc. (a)	3,631		16,340
Nuvelo, Inc. (a)	2,576		1,984
Nymox Pharmaceutical Corp. (a)	1,810		7,711
Omrix Biopharmaceuticals, Inc. (a)	883		16,062
Oncolytics Biotech, Inc. (a)	1,142		2,471
ONYX Pharmaceuticals, Inc. (a)	2,882		101,850
Orchid Cellmark, Inc. (a)	2,602		7,364
OREXIGEN Therapeutics, Inc.	1,773		15,443
Orthologic Corp. (a)	1,251		1,289
Oscient Pharmaceuticals Corp. (a)	769		1,615
OSI Pharmaceuticals, Inc. (a)	2,960		104,488
Osiris Therapeutics, Inc. (a)(d)	1,517		21,253
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Biotechnology - continued
OXiGENE, Inc. (a)	1,607		$ 2,652
Panacos Pharmaceuticals, Inc. (a)	3,400		1,836
PDL BioPharma, Inc.	5,471		56,078
Peregrine Pharmaceuticals, Inc. (a)	16,220		6,975
Pharmacopeia Drug Discovery, Inc. (a)	1,933		8,331
Pharmacyclics, Inc. (a)	1,146		1,180
Pharmasset, Inc.	924		16,724
Poniard Pharmaceuticals, Inc. (a)(d)	1,760		6,970
Progen Pharmaceuticals Ltd. (a)	522		674
Progenics Pharmaceuticals, Inc. (a)	1,545		25,307
QLT, Inc. (a)	4,361		17,226
Regeneron Pharmaceuticals, Inc. (a)	3,595		71,541
Repligen Corp. (a)	1,624		9,370
Rigel Pharmaceuticals, Inc. (a)(d)	2,099		48,991
RXi Pharmaceuticals Corp.	286		2,768
Sangamo Biosciences, Inc. (a)	2,130		23,600
Savient Pharmaceuticals, Inc. (a)	2,981		79,414
SciClone Pharmaceuticals, Inc. (a)	1,927		3,449
Seattle Genetics, Inc. (a)	4,190		39,177
Senomyx, Inc. (a)	1,884		9,740
SIGA Technologies, Inc. (a)	2,219		6,679
Sonus Pharmaceuticals, Inc. (a)	3,590		1,221
StemCells, Inc. (a)	2,240		3,158
Sunesis Pharmaceuticals, Inc. (a)	1,761		3,522
Synta Pharmaceuticals Corp. (a)(d)	1,342		9,394
Targacept, Inc. (a)	1,419		11,238
Telik, Inc. (a)(d)	2,715		5,892
Tercica, Inc. (a)	2,496		10,633
Theravance, Inc. (a)	2,300		31,119
Third Wave Technologies, Inc. (a)	3,052		32,382
Threshold Pharmaceuticals, Inc. (a)	1,985		615
TorreyPines Therapeutics, Inc. (a)	277		368
Trimeris, Inc.	671		3,986
Trubion Pharmaceuticals, Inc. (a)(d)	854		5,312
United Therapeutics Corp. (a)	1,084		103,533
Vanda Pharmaceuticals, Inc. (a)	1,177		5,508
Vertex Pharmaceuticals, Inc. (a)	7,376		211,175
Vical, Inc. (a)	1,765		5,630
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Biotechnology - continued
XOMA Ltd. (a)	8,572		$ 17,144
Zymogenetics, Inc. (a)(d)	3,440		31,029
			11,844,297
Health Care Equipment & Supplies - 1.9%
Abaxis, Inc. (a)	1,298		38,148
Abiomed, Inc. (a)	1,755		25,939
Accuray, Inc. (a)	2,357		22,533
Align Technology, Inc. (a)	3,139		41,341
Alphatec Holdings, Inc. (a)	3,191		15,827
American Medical Systems Holdings, Inc. (a)	3,800		57,418
Analogic Corp.	675		45,239
Angiodynamics, Inc. (a)	981		15,196
Anika Therapeutics, Inc. (a)	1,002		8,717
ArthroCare Corp. (a)(d)	1,383		61,004
Aspect Medical Systems, Inc. (a)	1,014		5,425
Atricure, Inc. (a)	695		6,818
Atrion Corp.	134		14,138
BioLase Technology, Inc. (a)	592		1,924
Candela Corp. (a)	1,339		3,334
Cardiac Science Corp. (a)	813		7,675
Cardica, Inc. (a)	1,278		9,099
Cardiodynamics International Corp. (a)	224		408
Cerus Corp. (a)	1,646		8,131
China Medical Technologies, Inc. sponsored ADR	966		38,089
Clinical Data, Inc. (a)	1,229		23,498
Conceptus, Inc. (a)	1,295		24,579
CONMED Corp. (a)	1,530		40,836
Cutera, Inc. (a)	521		5,335
Cyberonics, Inc. (a)	1,499		26,577
Cynosure, Inc. Class A (a)	416		10,204
Datascope Corp.	873		37,295
DENTSPLY International, Inc.	7,615		308,712
DexCom, Inc. (a)	1,171		9,239
Electro-Optical Sciences, Inc. (a)	1,612		14,992
Endologix, Inc. (a)	1,944		5,113
ev3, Inc. (a)	4,821		47,969
Exactech, Inc. (a)	534		14,199
Gen-Probe, Inc. (a)	2,581		146,962
Given Imaging Ltd. (a)	1,505		22,575
Hansen Medical, Inc. (a)(d)	1,063		19,060
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Health Care Equipment & Supplies - continued
HealthTronics, Inc. (a)	1,523		$ 5,757
Hologic, Inc. (a)	12,916		310,371
Home Diagnostics, Inc. (a)	835		6,630
I-Flow Corp. (a)	1,516		20,815
ICU Medical, Inc. (a)	885		22,550
IDEXX Laboratories, Inc. (a)	2,949		148,925
Immucor, Inc. (a)	3,685		98,869
Insulet Corp.	1,257		20,489
Integra LifeSciences Holdings Corp. (a)	1,328		55,803
Intuitive Surgical, Inc. (a)	1,909		560,463
IRIS International, Inc. (a)	690		10,916
Kensey Nash Corp. (a)	550		16,159
LeMaitre Vascular, Inc. (a)	426		1,385
Masimo Corp.	2,937		101,503
Medical Action Industries, Inc. (a)	742		9,854
Meridian Bioscience, Inc.	2,149		63,030
Merit Medical Systems, Inc. (a)	1,302		20,728
Micrus Endovascular Corp. (a)	653		7,385
National Dentex Corp. (a)	337		3,838
Natus Medical, Inc. (a)	1,461		31,499
Neogen Corp. (a)	814		21,441
NeuroMetrix, Inc. (a)	497		1,064
NMT Medical, Inc. (a)	513		2,457
Northstar Neuroscience, Inc. (a)	1,041		1,759
NUCRYST Pharmaceuticals Corp. (a)	862		1,026
NuVasive, Inc. (a)	1,740		73,654
NxStage Medical, Inc. (a)	2,160		10,476
OraSure Technologies, Inc. (a)	2,902		15,787
Orthofix International NV (a)	1,015		33,028
Orthovita, Inc. (a)	3,496		8,740
Osteotech, Inc. (a)	1,235		7,558
Palomar Medical Technologies, Inc. (a)	1,008		11,148
Quidel Corp. (a)	1,644		28,063
Rochester Medical Corp. (a)	328		4,090
RTI Biologics, Inc. (a)	3,187		31,711
Shamir Optical Industry Ltd.	707		5,380
Sirona Dental Systems, Inc. (a)	2,764		81,980
Somanetics Corp. (a)	771		13,631
Sonic Innovations, Inc. (a)	1,423		5,692
SonoSite, Inc. (a)	970		29,798
Staar Surgical Co. (a)	832		2,787
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Health Care Equipment & Supplies - continued
Stereotaxis, Inc. (a)(d)	2,207		$ 11,631
SurModics, Inc. (a)	854		38,293
Synergetics USA, Inc. (a)	1,175		2,327
Syneron Medical Ltd. (a)	1,227		19,914
Synovis Life Technologies, Inc. (a)	746		14,607
The Spectranetics Corp. (a)	1,742		18,988
Thermage, Inc. (a)	818		2,479
ThermoGenesis Corp. (a)	4,407		6,478
Thoratec Corp. (a)	2,829		46,763
TomoTherapy, Inc.	2,307		20,555
Trinity Biotech PLC sponsored ADR (a)	674		2,750
Utah Medical Products, Inc.	500		14,000
Vascular Solutions, Inc. (a)	1,180		7,611
Vital Signs, Inc.	750		42,593
Vnus Medical Technologies, Inc. (a)	1,153		20,235
Volcano Corp. (a)	2,438		33,986
Wright Medical Group, Inc. (a)	1,694		50,295
Xtent, Inc. (a)	1,150		4,198
Young Innovations, Inc.	390		7,979
Zoll Medical Corp. (a)	1,173		42,521
			3,499,990
Health Care Providers & Services - 1.5%
Air Methods Corp. (a)	670		25,822
Allied Healthcare International, Inc. (a)	1,897		3,339
Allion Healthcare, Inc. (a)	696		4,162
Almost Family, Inc. (a)	474		11,570
Amedisys, Inc. (a)	1,234		62,700
America Service Group, Inc. (a)	530		4,775
American Dental Partners, Inc. (a)	487		5,854
AmSurg Corp. (a)	1,724		47,031
Animal Health International, Inc. (a)	1,331		9,037
athenahealth, Inc. (d)	1,448		45,858
Bio-Reference Laboratories, Inc. (a)	768		19,077
BioScrip, Inc. (a)	2,063		8,850
BMP Sunstone Corp. (a)(d)	1,486		10,892
CardioNet, Inc.	1,000		25,620
Chindex International, Inc. (a)	849		20,104
Corvel Corp. (a)	589		21,210
Cross Country Healthcare, Inc. (a)	1,487		23,004
Dialysis Corp. of America (a)	301		2,197
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Health Care Providers & Services - continued
Express Scripts, Inc. (a)	12,370		$ 892,001
Genoptix, Inc.	672		18,218
Gentiva Health Services, Inc. (a)	1,753		35,305
Health Grades, Inc. (a)	1,360		7,670
HealthExtras, Inc. (a)	2,262		70,688
Healthways, Inc. (a)	1,740		56,202
Henry Schein, Inc. (a)	4,229		235,640
HMS Holdings Corp. (a)	1,151		23,285
Hythiam, Inc. (a)(d)	2,025		4,860
InVentiv Health, Inc. (a)	1,783		58,304
IPC The Hospitalist Co., Inc.	700		16,023
LCA-Vision, Inc.	1,176		9,773
LHC Group, Inc. (a)	1,005		21,778
LifePoint Hospitals, Inc. (a)	2,596		83,046
Lincare Holdings, Inc. (a)	3,957		103,119
Magellan Health Services, Inc. (a)	1,843		74,181
Medcath Corp. (a)	881		19,118
MWI Veterinary Supply, Inc. (a)	806		30,886
National Research Corp.	370		11,762
Nighthawk Radiology Holdings, Inc. (a)	1,452		11,079
NovaMed Eyecare, Inc. (a)	1,179		4,633
Odyssey Healthcare, Inc. (a)	1,312		14,314
Patterson Companies, Inc. (a)	6,548		222,697
PDI, Inc. (a)	594		4,901
Providence Service Corp. (a)	853		22,562
PSS World Medical, Inc. (a)	2,944		53,640
Psychiatric Solutions, Inc. (a)(d)	2,729		99,527
RadNet, Inc. (a)	3,172		20,681
ResCare, Inc. (a)	1,417		27,022
Rotech Healthcare, Inc. (a)	695		122
Rural/Metro Corp. (a)	909		2,391
Sun Healthcare Group, Inc. (a)	2,385		34,249
The Ensign Group, Inc.	666		6,933
TLC Vision Corp. (a)	4,732		7,098
U.S. Physical Therapy, Inc. (a)	574		9,850
VCA Antech, Inc. (a)	4,011		125,825
Virtual Radiologic Corp.	597		6,089
			2,796,574
Health Care Technology - 0.3%
Allscripts Healthcare Solutions, Inc. (a)	2,679		33,300
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Health Care Technology - continued
AMICAS, Inc. (a)	2,483		$ 6,828
Cerner Corp. (a)	4,039		183,249
Computer Programs & Systems, Inc.	714		14,244
Eclipsys Corp. (a)	2,621		53,468
Emageon, Inc. (a)	1,549		3,563
HLTH Corp. (a)	8,637		103,039
iCAD, Inc. (a)	4,384		16,133
MedAssets, Inc.	2,828		50,508
Merge Healthcare, Inc. (a)	930		642
Omnicell, Inc. (a)	1,601		21,261
Phase Forward, Inc. (a)	2,567		44,512
SXC Health Solutions Corp. (a)	1,757		28,597
Transcend Services, Inc. (a)	710		7,547
TriZetto Group, Inc. (a)	2,321		49,832
Vital Images, Inc. (a)	671		10,367
			627,090
Life Sciences Tools & Services - 0.9%
Accelrys, Inc. (a)	2,040		13,301
Affymetrix, Inc. (a)	4,104		49,494
Albany Molecular Research, Inc. (a)	1,520		21,250
AMAG Pharmaceuticals, Inc.	767		30,680
Bruker BioSciences Corp. (a)	8,482		98,730
Caliper Life Sciences, Inc. (a)	1,798		6,437
Combimatrix Corp. (a)	142		1,355
Compugen Ltd. (a)	1,757		3,567
Dionex Corp. (a)	966		70,441
Encorium Group, Inc. (a)	2,146		3,155
eResearchTechnology, Inc. (a)	2,741		43,829
Exelixis, Inc. (a)	5,406		34,166
Harvard Bioscience, Inc. (a)	973		4,670
ICON PLC sponsored ADR (a)	1,368		96,444
Illumina, Inc. (a)	2,771		217,468
Invitrogen Corp. (a)	4,584		210,681
Kendle International, Inc. (a)	877		33,142
Luminex Corp. (a)(d)	1,847		41,077
Medivation, Inc. (a)	1,300		19,721
Medtox Scientific, Inc. (a)	357		5,198
Nektar Therapeutics (a)	4,545		20,271
PAREXEL International Corp. (a)	2,628		64,623
Pharmaceutical Product Development, Inc.	5,573		246,382
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Life Sciences Tools & Services - continued
PharmaNet Development Group, Inc. (a)	758		$ 12,795
QIAGEN NV (a)	9,587		190,877
Sequenom, Inc. (a)	2,553		19,633
Techne Corp. (a)	1,883		147,816
Varian, Inc. (a)	1,390		77,131
			1,784,334
Pharmaceuticals - 1.7%
Acusphere, Inc. (a)	1,243		820
Adolor Corp. (a)	1,931		10,949
Akorn, Inc. (a)	4,150		19,713
Alexza Pharmaceuticals, Inc. (a)	1,512		7,741
Anesiva, Inc. (a)	2,189		7,683
Angiotech Pharmaceuticals, Inc. (a)	4,579		12,905
APP Pharmaceuticals, Inc. (a)	7,583		100,551
Artes Medical, Inc. (a)	195		181
Atherogenics, Inc. (a)	2,323		1,387
Auxilium Pharmaceuticals, Inc. (a)	2,024		64,444
AVANIR Pharmaceuticals Class A (a)	1,525		1,830
Barrier Therapeutics, Inc. (a)	1,043		2,566
Biodel, Inc.	957		14,996
BioForm Medical, Inc.	2,946		13,021
BioMimetic Therapeutics, Inc. (a)	903		10,791
Cadence Pharmaceuticals, Inc. (a)	1,375		9,199
Cardiome Pharma Corp. (a)	3,117		29,021
Columbia Laboratories, Inc. (a)	1,899		7,216
Cypress Bioscience, Inc. (a)	1,787		14,546
DepoMed, Inc. (a)	2,463		9,704
Discovery Laboratories, Inc. (a)	4,625		8,649
Durect Corp. (a)	4,092		19,028
Emisphere Technologies, Inc. (a)	1,366		2,513
Endo Pharmaceuticals Holdings, Inc. (a)	6,374		157,055
Eurand NV	2,150		32,315
Flamel Technologies SA sponsored ADR (a)(d)	1,311		13,438
Generex Biotechnology Corp. (a)(d)	5,909		6,027
Hi-Tech Pharmacal Co., Inc. (a)	462		4,250
Hollis-Eden Pharmaceuticals, Inc. (a)	580		876
Inspire Pharmaceuticals, Inc. (a)	3,078		12,066
Ista Pharmaceuticals, Inc. (a)	1,726		3,538
Jazz Pharmaceuticals, Inc.	1,184		9,058
Labopharm, Inc. (a)	3,695		6,806
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Pharmaceuticals - continued
Map Pharmaceuticals, Inc.	1,099		$ 15,221
Matrixx Initiatives, Inc. (a)	372		6,145
Medicines Co. (a)	2,401		43,938
MiddleBrook Pharmaceuticals, Inc. (a)(d)	5,533		26,448
Nastech Pharmaceutical Co., Inc. (a)	1,139		1,355
Nexmed, Inc. (a)	14,397		18,860
NitroMed, Inc. (a)	982		1,208
Noven Pharmaceuticals, Inc. (a)	1,490		18,238
Novogen Ltd. sponsored ADR (a)	97		728
Obagi Medical Products, Inc. (a)	1,285		11,526
Optimer Pharmaceuticals, Inc. (a)	1,303		9,668
Pain Therapeutics, Inc. (a)	3,006		24,439
Penwest Pharmaceuticals Co. (a)(d)	1,484		4,630
Perrigo Co.	4,519		165,441
Pozen, Inc. (a)(d)	1,285		17,656
Quigley Corp. (a)	1,566		8,488
Replidyne, Inc. (a)	1,754		2,315
Repros Therapeutics, Inc. (a)	1,970		19,542
Salix Pharmaceuticals Ltd. (a)	2,714		20,844
Santarus, Inc. (a)	3,045		7,399
Sciele Pharma, Inc. (a)	1,605		35,166
Sepracor, Inc. (a)	5,265		113,777
Shire PLC sponsored ADR	3,032		156,330
Sirtris Pharmaceuticals, Inc.	1,135		25,515
Somaxon Pharmaceuticals, Inc. (a)	769		3,268
Spectrum Pharmaceuticals, Inc. (a)	2,018		3,632
Sucampo Pharmaceuticals, Inc. Class A	1,103		11,780
SuperGen, Inc. (a)	3,481		8,737
Teva Pharmaceutical Industries Ltd. sponsored ADR	29,752		1,360,559
ViroPharma, Inc. (a)	3,623		34,745
Vivus, Inc. (a)	3,798		25,978
Warner Chilcott Ltd. (a)	12,260		213,079
XenoPort, Inc. (a)	1,285		55,615
Zila, Inc. (a)	3,259		815
			3,087,968
TOTAL HEALTH CARE			23,640,253
INDUSTRIALS - 6.8%
Aerospace & Defense - 0.3%
AeroVironment, Inc. (a)	871		23,151
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Aerospace & Defense - continued
American Science & Engineering, Inc.	467		$ 23,920
Applied Energetics, Inc. (a)(d)	3,427		6,957
Applied Signal Technology, Inc.	561		8,679
Argon ST, Inc. (a)	996		24,043
Ascent Solar Technologies, Inc. (a)	576		7,390
Astronics Corp. (a)	339		5,909
BE Aerospace, Inc. (a)	4,686		163,776
Ceradyne, Inc. (a)	1,283		55,336
Elbit Systems Ltd.	1,990		124,693
Herley Industries, Inc. (a)	746		11,988
Innovative Solutions & Support, Inc. (a)	1,067		8,259
Ladish Co., Inc. (a)	750		24,383
Limco-Piedmont, Inc.	806		3,796
LMI Aerospace, Inc. (a)	448		9,318
MTC Technologies, Inc. (a)	622		14,822
Sypris Solutions, Inc.	676		3,035
Taser International, Inc. (a)(d)	3,257		22,897
TAT Technologies Ltd.	78		615
			542,967
Air Freight & Logistics - 0.8%
Air Transport Services Group, Inc. (a)	3,839		6,334
Atlas Air Worldwide Holdings, Inc. (a)	1,093		67,657
C.H. Robinson Worldwide, Inc.	8,262		532,899
Dynamex, Inc. (a)	596		14,942
Expeditors International of Washington, Inc.	10,255		482,805
Forward Air Corp.	1,693		62,726
Hub Group, Inc. Class A (a)	1,986		71,655
Pacer International, Inc.	1,724		38,721
Park-Ohio Holdings Corp. (a)	771		11,580
UTI Worldwide, Inc.	4,828		114,713
			1,404,032
Airlines - 0.2%
Allegiant Travel Co. (a)	900		18,810
JetBlue Airways Corp. (a)	10,586		42,026
MAIR Holdings, Inc. (a)	1,544		6,485
Mesa Air Group, Inc. (a)	2,636		1,898
Pinnacle Airlines Corp. (a)(d)	1,418		9,231
Republic Airways Holdings, Inc. (a)	1,879		22,886
Ryanair Holdings PLC sponsored ADR (a)	5,969		157,283
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Airlines - continued
SkyWest, Inc.	2,857		$ 44,169
UAL Corp.	5,735		48,977
			351,765
Building Products - 0.1%
Aaon, Inc.	1,304		27,410
American Woodmark Corp.	798		17,979
Apogee Enterprises, Inc.	1,627		38,625
Builders FirstSource, Inc. (a)(d)	1,474		10,790
Dayton Superior Corp. (a)	383		804
Gibraltar Industries, Inc.	1,466		23,647
Insteel Industries, Inc.	1,270		20,358
PGT, Inc. (a)	1,123		3,448
Universal Forest Products, Inc.	846		28,705
US Home Systems, Inc. (a)	272		1,278
			173,044
Commercial Services & Supplies - 1.3%
51job, Inc. sponsored ADR (a)	868		17,074
Advisory Board Co. (a)	840		38,783
American Ecology Corp.	1,049		30,127
APAC Customer Services, Inc. (a)	2,411		3,448
Arrowhead Research Corp. (a)(d)	1,920		4,742
Barrett Business Services, Inc.	449		5,904
Casella Waste Systems, Inc. Class A (a)	1,581		17,644
CECO Environmental Corp. (a)	977		6,204
Cintas Corp.	7,323		216,175
Clean Harbors, Inc. (a)	1,120		79,554
Comsys IT Partners, Inc. (a)	927		9,307
Copart, Inc. (a)	4,253		191,385
Corporate Executive Board Co.	1,843		83,248
CoStar Group, Inc. (a)	996		46,712
Courier Corp.	559		13,131
CRA International, Inc. (a)	570		19,876
Diamond Management & Technology Consultants, Inc.	2,113		11,199
Exponent, Inc. (a)	884		28,836
First Advantage Corp. Class A (a)	418		8,389
Fuel Tech, Inc. (a)(d)	1,311		33,352
G&K Services, Inc. Class A	958		33,520
GeoEye, Inc. (a)	693		11,816
Healthcare Services Group, Inc.	2,037		35,933
Heidrick & Struggles International, Inc.	907		25,986
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Commercial Services & Supplies - continued
Herman Miller, Inc.	2,797		$ 69,366
Hudson Highland Group, Inc. (a)	1,554		19,472
Huron Consulting Group, Inc. (a)	865		46,355
ICF International, Inc. (a)	519		9,534
ICT Group, Inc. (a)	936		9,922
InnerWorkings, Inc. (a)	2,410		30,920
Interface, Inc. Class A	2,670		37,807
Intersections, Inc. (a)	441		4,137
Kelly Services, Inc. Class A (non-vtg.)	1,847		38,787
Kenexa Corp. (a)	1,120		22,557
Kforce, Inc. (a)	2,039		18,861
Kimball International, Inc. Class B	1,764		18,610
Layne Christensen Co. (a)	1,080		55,220
Learning Tree International, Inc. (a)	1,097		19,417
LECG Corp. (a)	1,966		19,857
McGrath RentCorp.	1,426		39,400
Mobile Mini, Inc. (a)	1,580		38,189
Monster Worldwide, Inc. (a)	5,762		142,264
Multi-Color Corp.	501		11,147
Odyssey Marine Exploration, Inc. (a)	1,801		8,843
On Assignment, Inc. (a)	1,390		11,593
PeopleSupport, Inc. (a)	1,045		9,666
Perma-Fix Environmental Services, Inc. (a)	2,601		6,398
PRG-Schultz International, Inc. (a)	1,940		19,807
Protection One, Inc. (a)(d)	883		7,514
RCM Technologies, Inc. (a)	426		1,840
Resources Connection, Inc.	2,240		47,062
School Specialty, Inc. (a)	1,009		31,673
Standard Parking Corp. (a)	1,266		27,143
Stericycle, Inc. (a)	4,103		239,205
Team, Inc. (a)	1,098		35,180
Teletech Holdings, Inc. (a)	3,287		84,936
Tetra Tech, Inc. (a)	2,934		77,575
Thomas Group	587		1,509
United Stationers, Inc. (a)	1,240		52,502
Virco Manufacturing Co.	1,086		5,430
VSE Corp.	199		6,840
Waste Services, Inc. (a)	2,681		21,582
WCA Waste Corp. (a)	2,105		11,599
			2,332,064
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Construction & Engineering - 0.3%
Foster Wheeler Ltd. (a)	7,206		$ 548,881
Great Lakes Dredge & Dock Corp.	2,920		17,666
Insituform Technologies, Inc. Class A (a)(d)	1,365		25,171
Integrated Electrical Services, Inc. (a)	652		11,906
Modtech Holdings, Inc. (a)	1,009		222
Northwest Pipe Co. (a)	485		22,790
Orion Marine Group, Inc. (a)	876		13,158
Sterling Construction Co., Inc. (a)	731		14,540
			654,334
Electrical Equipment - 1.3%
A-Power Energy Generation Systems, Ltd. (a)	1,690		38,769
Active Power, Inc. (a)	2,586		3,620
Advanced Battery Technologies, Inc. (a)	2,145		8,151
American Superconductor Corp. (a)(d)	1,947		68,690
BTU International, Inc. (a)	402		4,728
Canadian Solar, Inc. (a)(d)	2,165		85,972
Capstone Turbine Corp. (a)(d)	8,189		30,791
China BAK Battery, Inc. (a)(d)	2,286		9,441
China Sunergy Co. Ltd. ADR (d)	859		10,067
Coleman Cable, Inc. (a)	500		5,550
Deswell Industries, Inc.	609		4,561
Encore Wire Corp.	1,157		26,206
Energy Conversion Devices, Inc. (a)	2,117		134,387
Evergreen Solar, Inc. (a)(d)	6,040		62,816
First Solar, Inc. (a)	3,879		1,037,788
Franklin Electric Co., Inc.	1,066		43,173
FuelCell Energy, Inc. (a)(d)	3,132		31,727
Fushi Copperweld, Inc. (a)	1,319		26,789
Harbin Electric, Inc. (a)	1,186		22,238
Hoku Scientific, Inc. (a)(d)	796		6,129
Hydrogenics Corp. (a)	3,294		2,899
II-VI, Inc. (a)	1,568		61,324
JA Solar Holdings Co. Ltd. ADR (a)	4,990		106,137
LSI Industries, Inc.	1,143		12,162
Medis Technologies Ltd. (a)(d)	1,387		8,586
Microvision, Inc. (a)(d)	3,373		11,671
Ocean Power Technologies, Inc.	245		2,234
Orion Energy Systems, Inc.	1,000		12,150
Plug Power, Inc. (a)	6,316		19,832
Powell Industries, Inc. (a)	749		40,049
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Electrical Equipment - continued
Power-One, Inc. (a)	3,532		$ 10,737
PowerSecure International, Inc. (a)	871		8,780
Preformed Line Products Co.	259		13,085
Solarfun Power Holdings Co. Ltd. ADR (a)(d)	1,475		33,630
Sunpower Corp. Class A (a)(d)	1,963		160,770
Superior Essex, Inc. (a)	1,014		44,109
Ultralife Batteries, Inc. (a)	686		8,664
Valence Technology, Inc. (a)(d)	8,710		35,276
Vicor Corp.	2,196		24,793
Woodward Governor Co.	3,392		136,596
			2,415,077
Industrial Conglomerates - 0.0%
Raven Industries, Inc.	970		36,618
Machinery - 1.4%
3D Systems Corp. (a)(d)	1,292		11,835
Altra Holdings, Inc. (a)	1,190		20,730
American Railcar Industries, Inc.	997		20,867
Astec Industries, Inc. (a)	1,092		42,490
Axsys Technologies, Inc. (a)	558		33,011
Basin Water, Inc. (a)(d)	1,439		7,022
Bucyrus International, Inc. Class A	3,668		259,621
Chart Industries, Inc. (a)	1,570		65,767
China Fire & Security Group, Inc. (a)(d)	1,300		15,678
Columbus McKinnon Corp. (NY Shares) (a)	850		24,234
Commercial Vehicle Group, Inc. (a)	736		10,260
Dynamic Materials Corp.	636		27,590
Flanders Corp. (a)	1,144		8,191
Flow International Corp. (a)	2,723		27,666
Force Protection, Inc. (a)(d)	3,319		14,172
FreightCar America, Inc.	549		23,936
Gehl Co. (a)	645		10,320
Gencor Industries, Inc. (a)	519		7,453
Hardinge, Inc.	253		3,555
Hurco Companies, Inc. (a)	280		10,144
Joy Global, Inc.	5,284		445,071
K-Tron International, Inc. (a)	110		15,046
Key Technology, Inc. (a)	313		11,446
L.B. Foster Co. Class A (a)	696		23,824
Lincoln Electric Holdings, Inc.	1,935		159,599
MFRI, Inc. (a)	146		2,276
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Machinery - continued
Middleby Corp. (a)	910		$ 51,952
NN, Inc.	1,342		17,459
Nordson Corp.	1,545		111,008
Omega Flex, Inc.	414		7,423
PACCAR, Inc.	18,046		963,476
Peerless Manufacturing Co. (a)	281		13,055
Portec Rail Products, Inc.	692		8,408
RBC Bearings, Inc. (a)	1,207		45,480
Sun Hydraulics Corp.	774		31,045
Tecumseh Products Co.:
Class A (non-vtg.) (a)	1,046		36,516
Class B (a)	262		7,926
Titan Machinery, Inc.	1,090		26,487
TurboChef Technologies, Inc. (a)	1,655		11,138
Twin Disc, Inc.	466		8,854
			2,642,031
Marine - 0.3%
Alexander & Baldwin, Inc.	1,923		98,977
American Commercial Lines, Inc. (a)(d)	2,461		37,752
Aries Maritime Transport Ltd.	1,020		5,916
DryShips, Inc. (d)	1,985		186,193
Eagle Bulk Shipping, Inc.	2,237		74,582
Euroseas Ltd.	1,639		25,601
FreeSeas, Inc.	1,718		12,043
OceanFreight, Inc.	753		19,970
Omega Navigation Enterprises, Inc. Class A	1,149		23,980
Paragon Shipping, Inc.	1,288		27,434
Star Bulk Carriers Corp.	2,000		27,960
TBS International Ltd. Class A (a)	745		34,702
Ultrapetrol (Bahamas) Ltd. (a)	1,325		20,180
			595,290
Road & Rail - 0.5%
AMERCO (a)	958		57,011
Arkansas Best Corp.	1,291		47,974
Celadon Group, Inc. (a)	1,014		11,560
Covenant Transport Group, Inc. Class A (a)	611		2,896
Frozen Food Express Industries, Inc.	1,931		15,255
Heartland Express, Inc.	4,452		68,561
J.B. Hunt Transport Services, Inc.	5,720		199,285
Landstar System, Inc.	2,618		145,875
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Road & Rail - continued
Marten Transport Ltd. (a)	1,029		$ 18,440
Old Dominion Freight Lines, Inc. (a)	1,836		55,410
P.A.M. Transportation Services, Inc. (a)	668		9,793
Patriot Transportation Holding, Inc. (a)	214		19,234
Quality Distribution, Inc. (a)	1,569		5,492
Saia, Inc. (a)	753		10,474
Trailer Bridge, Inc. (a)	724		4,474
Universal Truckload Services, Inc. (a)	990		24,116
USA Truck, Inc. (a)	550		7,029
Vitran Corp., Inc. (a)	938		13,873
Werner Enterprises, Inc.	3,374		63,904
YRC Worldwide, Inc. (a)	3,547		61,931
			842,587
Trading Companies & Distributors - 0.3%
Aceto Corp.	828		6,516
Beacon Roofing Supply, Inc. (a)	2,041		24,921
Electro Rent Corp.	1,443		20,375
Fastenal Co.	7,213		356,611
H&E Equipment Services, Inc. (a)	1,668		23,435
Houston Wire & Cable Co.	1,065		22,983
Industrial Distribution Group, Inc. (a)	369		4,458
Kaman Corp.	1,168		30,251
Lawson Products, Inc.	645		16,764
Mitsui & Co. Ltd. sponsored ADR	22		10,742
Rush Enterprises, Inc.:
Class A (a)	1,200		19,416
Class B (a)	1,009		15,175
			551,647
Transportation Infrastructure - 0.0%
Grupo Aeroportuario Norte Sab de CV ADR	866		17,355
Quixote Corp.	489		4,988
			22,343
TOTAL INDUSTRIALS			12,563,799
INFORMATION TECHNOLOGY - 51.6%
Communications Equipment - 10.3%
3Com Corp. (a)	18,500		46,620
Acme Packet, Inc. (a)	2,767		24,931
ADC Telecommunications, Inc. (a)	5,591		88,002
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Communications Equipment - continued
Adtran, Inc.	3,248		$ 80,843
Airspan Networks, Inc. (a)	2,489		2,210
Airvana, Inc.	2,600		14,846
Alvarion Ltd. (a)	2,562		18,344
Anaren, Inc. (a)	1,301		16,926
Arris Group, Inc. (a)	7,477		69,985
Aruba Networks, Inc. (a)	3,600		22,608
AudioCodes Ltd. (a)	1,741		6,790
Avanex Corp. (a)	12,464		14,708
Avocent Corp. (a)	2,483		48,990
Aware, Inc. (a)	1,453		5,260
Bel Fuse, Inc.:
Class A	177		5,425
Class B (non-vtg.)	300		7,857
BigBand Networks, Inc. (a)	2,700		14,310
Black Box Corp.	852		24,452
Blue Coat Systems, Inc. (a)	1,931		34,990
Bookham, Inc. (a)	4,309		8,747
Ceragon Networks Ltd. (a)	1,565		15,947
China GrenTech Corp. Ltd. ADR (a)	1,452		7,260
China Techfaith Wireless Communication Technology Ltd. sponsored ADR (a)	798		3,791
Ciena Corp. (a)	4,535		138,590
Cisco Systems, Inc. (a)	293,885		7,852,607
Cogo Group, Inc. (a)	1,575		22,082
Comtech Telecommunications Corp. (a)	1,134		52,504
Digi International, Inc. (a)	1,799		16,227
Ditech Networks, Inc. (a)	1,208		2,875
EchoStar Holding Corp. Class A (a)	2,247		83,903
EMS Technologies, Inc. (a)	1,046		28,639
Endwave Corp. (a)	412		2,818
EXFO Electro-Optical Engineering, Inc. (sub. vtg.) (a)	3,669		20,422
Extreme Networks, Inc. (a)	7,442		24,187
F5 Networks, Inc. (a)	3,909		117,465
Finisar Corp. (a)	14,260		26,238
Foundry Networks, Inc. (a)	6,848		93,133
Globecomm Systems, Inc. (a)	1,123		10,904
Harmonic, Inc. (a)	5,369		51,650
Harris Stratex Networks, Inc. Class A (a)	1,328		14,927
Hughes Communications, Inc. (a)	968		44,906
Infinera Corp.	4,816		68,772
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Communications Equipment - continued
InterDigital, Inc. (a)	2,445		$ 61,101
Ituran Location & Control Ltd.	1,591		21,160
Ixia (a)	3,978		32,182
JDS Uniphase Corp. (a)	12,031		148,823
Juniper Networks, Inc. (a)	25,928		713,539
KVH Industries, Inc. (a)	419		3,687
Loral Space & Communications Ltd. (a)	977		18,944
Metalink Ltd. (a)	1,755		3,159
MRV Communications, Inc. (a)	7,974		14,194
NETGEAR, Inc. (a)	1,638		31,106
Network Engines, Inc. (a)	1,511		1,919
Neutral Tandem, Inc.	1,350		26,123
Nextwave Wireless, Inc. (a)(d)	7,208		38,707
Nice Systems Ltd. sponsored ADR (a)	2,099		73,465
NMS Communications Corp. (a)	1,666		1,933
NumereX Corp. Class A (a)	847		6,429
Occam Networks, Inc. (a)	651		2,780
Oplink Communications, Inc. (a)	1,319		14,615
Opnext, Inc. (a)	3,029		17,568
Optium Corp. (a)	1,536		16,896
ORBCOMM, Inc. (a)(d)	1,542		9,545
Orckit Communications Ltd. (a)	601		4,243
Packeteer, Inc. (a)	2,182		15,492
Parkervision, Inc. (a)(d)	1,061		11,841
PC-Tel, Inc.	1,155		11,423
Pegasus Wireless Corp. warrants 8/11/08 (a)	250		0
Performance Technologies, Inc. (a)	470		2,604
Polycom, Inc. (a)	4,171		103,941
Powerwave Technologies, Inc. (a)	6,700		27,001
Qiao Xing Universal Telephone, Inc. (a)(d)	925		5,680
QUALCOMM, Inc.	79,312		3,849,804
RADWARE Ltd. (a)	685		6,699
Radyne Corp. (a)	1,102		12,353
Research In Motion Ltd. (a)	27,621		3,835,728
Riverbed Technology, Inc. (a)	4,144		74,385
SCM Microsystems, Inc. (a)	1,068		3,172
SeaChange International, Inc. (a)	1,245		9,786
ShoreTel, Inc.	2,588		13,975
Sierra Wireless, Inc. (a)	1,359		23,280
Silicom Ltd. (a)	400		3,544
Soapstone Networks, Inc.	1,421		7,574
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Communications Equipment - continued
Sonus Networks, Inc. (a)	12,165		$ 52,188
Starent Networks Corp. (d)	3,692		64,647
Sycamore Networks, Inc. (a)	15,201		51,531
Symmetricom, Inc. (a)	2,546		10,719
Tekelec (a)	3,296		55,340
Telefonaktiebolaget LM Ericsson (B Shares) sponsored ADR	6,767		182,980
Tellabs, Inc. (a)	21,041		114,463
Telular Corp. (a)	871		3,162
Tollgrade Communications, Inc. (a)	443		2,357
UTStarcom, Inc. (a)(d)	5,640		27,072
ViaSat, Inc. (a)	1,507		32,461
Westell Technologies, Inc. Class A (a)	3,694		5,245
Zhone Technologies, Inc. (a)	6,304		6,052
			19,145,308
Computers & Peripherals - 6.9%
ActivIdentity Corp. (a)	1,423		4,041
Adaptec, Inc. (a)	8,005		25,856
Apple, Inc. (a)	43,356		8,183,445
Avid Technology, Inc. (a)	2,073		44,487
Brocade Communications Systems, Inc. (a)	17,976		144,887
Concurrent Computer Corp. (a)	2,256		1,557
Cray, Inc. (a)	1,576		9,818
Data Domain, Inc. (d)	2,970		71,280
Dell, Inc. (a)	100,768		2,323,710
Dot Hill Systems Corp. (a)	4,517		13,551
Electronics for Imaging, Inc. (a)	2,964		49,113
Hutchinson Technology, Inc. (a)	1,552		22,349
iGO, Inc. (a)	1,162		1,511
Immersion Corp. (a)	1,492		12,786
InFocus Corp. (a)	1,431		2,447
Innovex, Inc. (a)	857		643
Intevac, Inc. (a)	1,019		11,719
Isilon Systems, Inc. (a)(d)	2,877		14,097
LaserCard Corp. (a)	492		3,601
Logitech International SA (a)	8,917		293,637
NetApp, Inc. (a)	17,136		417,776
Novatel Wireless, Inc. (a)	1,802		18,579
Overland Storage, Inc. (a)	914		960
Palm, Inc. (d)	5,566		33,730
Presstek, Inc. (a)	1,343		8,380
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Computers & Peripherals - continued
QLogic Corp. (a)	6,935		$ 109,504
Rackable Systems, Inc. (a)	1,238		16,911
Rimage Corp. (a)	799		14,126
SanDisk Corp. (a)	11,278		319,280
Silicon Graphics, Inc. (a)	727		5,612
STEC, Inc. (a)	2,964		37,791
Stratasys, Inc. (a)	1,167		25,406
Sun Microsystems, Inc. (a)	38,788		502,305
Super Micro Computer, Inc. (a)	1,887		13,549
Synaptics, Inc. (a)	1,564		66,892
Xyratex Ltd. (a)	1,510		30,125
			12,855,461
Electronic Equipment & Instruments - 1.5%
Acacia Research Corp. - Acacia Technologies (a)	1,296		7,037
Agilysys, Inc.	1,889		19,721
American Technology Corp. (a)	1,388		2,443
Brightpoint, Inc. (a)	3,642		35,874
CalAmp Corp. (a)	1,266		3,178
Cherokee International Corp. (a)	469		1,360
Cogent, Inc. (a)	5,186		62,076
Cognex Corp.	2,248		62,629
Coherent, Inc. (a)	1,500		45,405
Comverge, Inc.	948		12,125
CPI International, Inc. (a)	798		9,728
Daktronics, Inc.	2,111		42,621
DDi Corp. (a)	1,501		9,396
Digital Ally, Inc. (a)	1,439		14,203
DTS, Inc. (a)	1,080		36,180
Echelon Corp. (a)(d)	1,836		27,099
Electro Scientific Industries, Inc. (a)	1,631		25,770
Entorian Technologies, Inc. (a)	3,710		3,896
Excel Technology, Inc. (a)	840		21,857
FARO Technologies, Inc. (a)	894		25,631
Flextronics International Ltd. (a)	41,328		442,623
FLIR Systems, Inc. (a)	6,741		265,730
Frequency Electronics, Inc.	801		5,367
GSI Group, Inc. (a)	2,835		22,878
GTSI Corp. (a)	429		3,299
I. D. Systems Inc. (a)	623		4,585
ICx Technologies, Inc.	3,806		25,424
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Electronic Equipment & Instruments - continued
Insight Enterprises, Inc. (a)	2,484		$ 33,286
IPG Photonics Corp. (a)	2,000		40,180
Itron, Inc. (a)	1,487		145,101
LeCroy Corp. (a)	442		3,823
Littelfuse, Inc. (a)	1,076		40,662
LoJack Corp. (a)	1,208		11,174
Magal Security Systems Ltd. (a)	1,252		8,176
Maxwell Technologies, Inc. (a)(d)	899		12,271
Measurement Specialties, Inc. (a)	600		11,688
Mellanox Technologies Ltd. (a)	1,419		23,186
Mercury Computer Systems, Inc. (a)	1,018		9,030
Merix Corp. (a)	475		1,188
Molex, Inc.	4,737		131,878
Molex, Inc. Class A (non-vtg.)	3,756		99,346
MTS Systems Corp.	1,050		39,732
Multi-Fineline Electronix, Inc. (a)	1,433		28,732
National Instruments Corp.	3,890		123,546
NetList, Inc. (a)	1,508		2,322
Newport Corp. (a)	1,742		23,308
NU Horizons Electronics Corp. (a)	1,635		9,401
Optimal Group, Inc. Class A (a)	1,305		3,785
Orbotech Ltd. (a)	1,903		32,598
OSI Systems, Inc. (a)	733		18,479
PC Connection, Inc. (a)	1,121		12,208
Perceptron, Inc. (a)	784		6,797
Photon Dynamics, Inc. (a)	1,893		24,079
Planar Systems, Inc. (a)	480		1,594
Plexus Corp. (a)	2,125		59,989
RadiSys Corp. (a)	803		8,054
Research Frontiers, Inc. (a)(d)	596		3,493
Richardson Electronics Ltd.	989		5,588
Rofin-Sinar Technologies, Inc. (a)	1,410		49,900
Sanmina-SCI Corp. (a)	25,282		37,923
ScanSource, Inc. (a)	1,499		44,910
SMART Modular Technologies (WWH), Inc. (a)	3,295		17,727
Spectrum Control, Inc. (a)	541		4,929
Tech Data Corp. (a)	2,516		92,060
Tessco Technologies, Inc. (a)	367		4,668
Trimble Navigation Ltd. (a)	6,050		241,032
TTM Technologies, Inc. (a)	2,158		31,420
Universal Display Corp. (a)	2,480		37,721
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Electronic Equipment & Instruments - continued
X-Rite, Inc. (a)	1,218		$ 2,144
Zones, Inc. (a)	258		2,116
Zygo Corp. (a)	1,222		14,627
			2,794,006
Internet Software & Services - 7.7%
Akamai Technologies, Inc. (a)	8,352		326,146
Ariba, Inc. (a)	4,919		72,998
Art Technology Group, Inc. (a)	6,113		22,924
AsiaInfo Holdings, Inc. (a)	2,367		32,546
Autobytel, Inc. (a)	3,159		5,276
Baidu.com, Inc. sponsored ADR (a)	1,270		438,226
Bankrate, Inc. (a)	819		41,360
Bidz.com, Inc. (a)(d)	971		11,157
China Finance Online Co. Ltd. ADR (a)	852		20,934
Chordiant Software, Inc. (a)	1,678		10,773
CMGI, Inc. (a)	2,744		41,105
CNET Networks, Inc. (a)	7,344		84,089
comScore, Inc.	1,421		34,815
Constant Contact, Inc. (d)	1,890		36,288
Copernic, Inc. (a)	2,172		1,347
CryptoLogic Ltd.	469		7,884
DealerTrack Holdings, Inc. (a)	2,047		43,069
Digital River, Inc. (a)	1,871		74,952
DivX, Inc. (a)	1,745		17,084
EarthLink, Inc. (a)	6,995		67,152
eBay, Inc. (a)	65,601		1,968,686
Entrust, Inc. (a)	2,378		6,658
Equinix, Inc. (a)	1,889		180,381
GigaMedia Ltd. (a)	2,552		45,017
Gmarket, Inc. sponsored ADR (a)	1,260		31,424
Google, Inc. Class A (sub. vtg.) (a)	11,688		6,846,830
Greenfield Online, Inc. (a)	1,107		14,103
HireRight, Inc.	881		8,933
HSW International, Inc. (a)	2,128		7,852
Hurray! Holding Co. Ltd. ADR (a)	2,051		6,091
I-Many, Inc. (a)	2,704		2,731
InfoSpace, Inc.	1,767		16,133
Internap Network Services Corp. (a)	2,259		11,905
Internet Brands, Inc. Class A	2,000		14,180
Internet Capital Group, Inc. (a)	1,700		17,102
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Internet Software & Services - continued
Internet Gold Golden Lines Ltd. (a)	1,727		$ 17,425
Internet Initiative Japan, Inc. sponsored ADR	728		6,552
Interwoven, Inc. (a)	1,935		25,948
iPass, Inc. (a)	2,745		5,902
j2 Global Communications, Inc. (a)	2,424		64,284
Jupitermedia Corp. (a)	1,459		2,714
Keynote Systems, Inc. (a)	1,025		13,838
Kintera, Inc. (a)	800		864
Limelight Networks, Inc.	3,819		12,870
Liquidity Services, Inc. (a)	1,699		18,859
LivePerson, Inc. (a)	2,751		8,858
LoopNet, Inc. (a)(d)	1,593		20,916
Marchex, Inc. Class B	2,128		28,132
Mercadolibre, Inc.	2,172		101,975
MIVA, Inc. (a)	3,393		5,768
Move, Inc. (a)	8,334		25,085
NaviSite, Inc. (a)	1,564		5,928
NetEase.com, Inc. sponsored ADR (a)(d)	3,215		73,141
NIC, Inc.	3,113		25,402
Omniture, Inc. (a)	3,479		85,757
Open Text Corp. (a)(d)	2,528		90,331
Openwave Systems, Inc.	4,488		8,886
Perficient, Inc. (a)	1,706		18,101
PlanetOut, Inc. (a)	57		157
RADVision Ltd. (a)	826		5,840
RealNetworks, Inc. (a)	6,660		48,618
Rediff.com India Ltd. sponsored ADR (a)	371		2,764
S1 Corp. (a)	3,096		20,248
Saba Software, Inc. (a)	1,898		7,250
SAVVIS, Inc. (a)	2,445		40,783
Selectica, Inc. (a)	2,459		3,467
Sify Technologies Ltd. sponsored ADR (a)	1,939		9,462
Sina Corp. (a)	2,752		146,599
SkillSoft PLC sponsored ADR (a)	5,424		52,721
Sohu.com, Inc. (a)	1,860		162,787
SonicWALL, Inc. (a)	3,593		28,744
Supportsoft, Inc. (a)	2,282		8,512
Switch & Data Facilities Co., Inc. (a)	1,607		28,685
TechTarget, Inc.	1,900		23,066
Terremark Worldwide, Inc. (a)	2,650		16,695
The Knot, Inc. (a)	1,581		18,355
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Internet Software & Services - continued
TheStreet.com, Inc.	1,783		$ 13,765
Travelzoo, Inc. (a)	630		6,728
Tumbleweed Communications Corp. (a)	1,264		2,338
United Online, Inc.	2,993		36,604
ValueClick, Inc. (a)	4,659		93,692
VeriSign, Inc. (a)	9,807		392,672
Vignette Corp. (a)	1,536		19,891
VistaPrint Ltd. (a)	2,409		75,450
Vocus, Inc. (a)	861		27,354
WebMD Health Corp. Class A (a)	421		12,643
Websense, Inc. (a)	2,250		39,578
Website Pros, Inc. (a)	1,607		13,193
Workstream, Inc. (a)	1,954		843
Yahoo!, Inc. (a)	66,092		1,768,622
Zix Corp. (a)(d)	3,758		9,696
			14,373,509
IT Services - 1.4%
Acxiom Corp.	3,641		53,413
Applied Digital Solutions, Inc. (a)	2,129		1,810
Cass Information Systems, Inc.	612		19,443
Cognizant Technology Solutions Corp. Class A (a)	14,398		507,961
CSG Systems International, Inc. (a)	2,185		29,017
CyberSource Corp. (a)	3,949		76,650
Edgewater Technology, Inc. (a)	1,090		5,603
eLoyalty Corp. (a)	438		3,662
eTelecare Global Solutions, Inc. sponsored ADR (a)	368		2,778
Euronet Worldwide, Inc. (a)	2,258		44,166
ExlService Holdings, Inc. (a)	1,527		30,448
Fiserv, Inc. (a)	7,967		417,152
Forrester Research, Inc. (a)	1,316		39,756
Gevity HR, Inc.	1,134		8,471
Hackett Group, Inc. (a)	1,964		10,370
iGate Corp. (a)	2,729		23,333
Infosys Technologies Ltd. sponsored ADR	5,344		262,444
infoUSA, Inc.	2,977		16,701
Integral Systems, Inc.	335		13,263
Lionbridge Technologies, Inc. (a)	3,727		9,057
ManTech International Corp. Class A (a)	1,040		52,447
NCI, Inc. Class A (a)	905		19,005
Ness Technologies, Inc. (a)	1,605		18,169
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
IT Services - continued
Newtek Business Services, Inc. (a)	1,293		$ 1,332
Online Resources Corp. (a)	1,151		11,165
Paychex, Inc.	17,723		612,330
PFSweb, Inc. (a)	1,212		1,139
Rainmaker Systems, Inc. (a)	1,909		7,541
RightNow Technologies, Inc. (a)	1,835		27,268
Sapient Corp. (a)	7,325		48,345
SI International, Inc. (a)	509		12,471
SM&A (a)	996		4,960
Sykes Enterprises, Inc. (a)	1,937		40,115
Syntel, Inc. (d)	1,911		62,490
TechTeam Global, Inc. (a)	575		5,721
Telvent GIT SA	1,504		39,555
Tier Technologies, Inc. Class B (a)	1,098		9,113
TRX, Inc. (a)	921		1,363
Virtusa Corp.	2,013		20,331
Yucheng Technologies Ltd. (a)	792		10,478
Zanett, Inc. (a)	2,719		1,142
			2,581,978
Office Electronics - 0.1%
Zebra Technologies Corp. Class A (a)	3,117		117,199
Semiconductors & Semiconductor Equipment - 8.6%
Actel Corp. (a)	1,079		18,505
Actions Semiconductor Co. Ltd. ADR (a)	1,319		4,524
Advanced Analogic Technologies, Inc. (a)	1,805		12,599
Advanced Energy Industries, Inc. (a)	1,930		30,571
Altera Corp.	14,907		344,948
Amkor Technology, Inc. (a)	9,393		100,129
ANADIGICS, Inc. (a)	3,617		44,706
Applied Materials, Inc.	66,156		1,310,550
Applied Micro Circuits Corp. (a)	3,924		38,494
ARM Holdings PLC sponsored ADR	2,809		17,528
ASM International NV (NASDAQ)	497		12,748
ASML Holding NV (NY Shares)	4,669		139,883
Asyst Technologies, Inc. (a)	2,729		9,688
Atheros Communications, Inc. (a)	3,096		103,468
Atmel Corp. (a)	23,457		104,853
ATMI, Inc. (a)	1,684		50,402
AuthenTec, Inc.	1,524		20,772
Axcelis Technologies, Inc. (a)	5,873		33,535
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Semiconductors & Semiconductor Equipment - continued
AXT, Inc. (a)	2,274		$ 10,506
Broadcom Corp. Class A (a)	23,364		670,313
Brooks Automation, Inc. (a)	3,569		36,368
Cabot Microelectronics Corp. (a)	1,158		42,962
California Micro Devices Corp. (a)	960		3,427
Camtek Ltd. (a)	1,772		2,428
Cascade Microtech, Inc. (a)	599		4,702
Cavium Networks, Inc.	2,057		53,605
Centillium Communications, Inc. (a)	1,559		1,247
Ceva, Inc. (a)	2,068		17,309
ChipMOS TECHNOLOGIES (Bermuda) Ltd. (a)	2,935		9,304
Cirrus Logic, Inc. (a)	4,675		30,668
Cohu, Inc.	994		17,007
Conexant Systems, Inc. (a)	23,848		10,970
Credence Systems Corp. (a)	4,370		4,720
Cree, Inc. (a)(d)	4,282		108,848
Cymer, Inc. (a)	1,569		48,513
Diodes, Inc. (a)	1,950		55,049
DSP Group, Inc. (a)	1,376		11,476
Eagle Test Systems, Inc. (a)	920		10,608
EMCORE Corp. (a)(d)	3,730		29,318
Entegris, Inc. (a)	6,386		49,108
Entropic Communications, Inc.	2,900		15,022
Exar Corp. (a)	2,318		18,219
FEI Co. (a)	1,753		41,090
FormFactor, Inc. (a)	2,305		50,318
FSI International, Inc. (a)	988		1,729
Hi/fn, Inc. (a)	451		2,282
Himax Technologies, Inc. sponsored ADR	4,400		24,200
Hittite Microwave Corp. (a)	1,455		58,127
Ikanos Communications, Inc. (a)	2,406		8,565
Integrated Device Technology, Inc. (a)	9,215		103,945
Integrated Silicon Solution, Inc. (a)	1,031		6,289
Intel Corp.	285,166		6,610,148
Intersil Corp. Class A	6,228		173,574
IXYS Corp. (a)	2,421		28,229
KLA-Tencor Corp.	8,447		389,576
Kopin Corp. (a)	2,638		7,993
Kulicke & Soffa Industries, Inc. (a)	2,259		15,994
Lam Research Corp. (a)	5,955		242,369
Lanoptics Ltd. (a)	1,259		20,711
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Semiconductors & Semiconductor Equipment - continued
Lattice Semiconductor Corp. (a)	6,891		$ 24,532
Leadis Technology, Inc. (a)	715		1,194
Linear Technology Corp.	10,680		392,704
LTX Corp. (a)	3,886		11,425
Marvell Technology Group Ltd. (a)	29,379		510,019
Mattson Technology, Inc. (a)	3,129		15,708
MEMSIC, Inc.	1,025		5,135
Micrel, Inc.	4,145		39,792
Microchip Technology, Inc.	8,954		329,865
Microsemi Corp. (a)	3,884		106,422
Microtune, Inc. (a)	3,311		13,840
Mindspeed Technologies, Inc. (a)	2,431		1,993
MIPS Technologies, Inc. (a)	1,934		7,388
MKS Instruments, Inc. (a)	2,538		59,795
Monolithic Power Systems, Inc. (a)	1,663		40,294
MoSys, Inc. (a)	1,045		5,225
Nanometrics, Inc. (a)	749		5,910
Netlogic Microsystems, Inc. (a)	1,014		38,289
Novellus Systems, Inc. (a)	5,390		128,767
NVE Corp. (a)	234		8,408
NVIDIA Corp. (a)	27,442		677,817
O2Micro International Ltd. sponsored ADR (a)	1,627		14,578
Omnivision Technologies, Inc. (a)	2,838		45,976
ON Semiconductor Corp. (a)	20,090		198,690
PDF Solutions, Inc. (a)	1,837		10,361
Pericom Semiconductor Corp. (a)	1,526		28,597
Photronics, Inc. (a)	1,773		15,922
Pixelworks, Inc. (a)	1,850		1,351
PLX Technology, Inc. (a)	1,370		11,453
PMC-Sierra, Inc. (a)	11,574		98,495
Power Integrations, Inc. (a)	1,523		49,695
Rambus, Inc. (a)	5,068		104,705
Ramtron International Corp. (a)	3,073		13,798
RF Micro Devices, Inc. (a)	16,688		66,752
Rubicon Technology, Inc.	1,000		22,870
Rudolph Technologies, Inc. (a)	1,643		16,529
Semitool, Inc. (a)	2,121		17,795
Semtech Corp. (a)	3,253		56,993
Sigma Designs, Inc. (a)(d)	1,477		27,325
Silicon Image, Inc. (a)	4,219		29,660
Silicon Laboratories, Inc. (a)	2,711		99,900
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Semiconductors & Semiconductor Equipment - continued
Silicon Motion Technology Corp. sponsored ADR (a)	1,507		$ 29,115
Silicon Storage Technology, Inc. (a)	6,222		20,222
Siliconware Precision Industries Co. Ltd. sponsored ADR	5,127		43,528
SiRF Technology Holdings, Inc. (a)	2,719		19,767
Skyworks Solutions, Inc. (a)	7,606		78,570
Spansion, Inc. Class A (a)	7,455		23,483
Spreadtrum Communications, Inc. ADR	1,843		17,324
SRS Labs, Inc. (a)	273		1,900
Standard Microsystems Corp. (a)	1,064		34,686
Supertex, Inc. (a)	648		16,394
Techwell, Inc. (a)	1,387		18,336
Tessera Technologies, Inc. (a)	2,160		45,511
Tower Semicondutor Ltd. (a)	18,070		17,709
Transwitch Corp. (a)	3,005		2,524
Trident Microsystems, Inc. (a)	2,298		10,778
TriQuint Semiconductor, Inc. (a)	8,426		56,117
Ultra Clean Holdings, Inc. (a)	1,092		11,390
Ultratech, Inc. (a)	1,710		27,377
Varian Semiconductor Equipment Associates, Inc. (a)	3,691		140,369
Veeco Instruments, Inc. (a)	1,395		26,826
Verigy Ltd. (a)	2,996		76,518
Vimicro International Corp. sponsored ADR (a)	1,066		3,422
Virage Logic Corp. (a)	772		5,111
Volterra Semiconductor Corp. (a)	1,693		26,919
White Electronic Designs Corp. (a)	952		4,408
Xilinx, Inc.	13,614		370,301
Zilog, Inc. (a)	2,792		11,000
Zoran Corp. (a)	2,292		33,532
			15,973,843
Software - 15.1%
Access Integrated Technologies, Inc. Class A (a)(d)	987		2,122
ACI Worldwide, Inc.	1,709		29,754
Activision, Inc. (a)	14,344		484,110
Actuate Corp. (a)	4,398		21,814
Adobe Systems, Inc. (a)	27,167		1,196,978
Advent Software, Inc. (a)	1,360		58,439
Aladdin Knowledge Systems Ltd. (a)	753		12,537
Allot Communications Ltd. (a)	1,427		4,424
American Software, Inc. Class A	951		6,220
Ansoft Corp. (a)	1,324		48,300
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Software - continued
Ansys, Inc. (a)	3,911		$ 184,990
Authentidate Holding Corp. (a)	825		421
Autodesk, Inc. (a)	11,423		470,171
Blackbaud, Inc.	2,172		51,390
Blackboard, Inc. (a)	1,479		56,025
BluePhoenix Solutions Ltd. (a)	1,138		12,234
Borland Software Corp. (a)	5,134		7,239
Bottomline Technologies, Inc. (a)	1,331		13,243
CA, Inc.	25,335		672,391
Cadence Design Systems, Inc. (a)	12,919		150,119
Callidus Software, Inc. (a)	2,708		16,465
CAM Commerce Solutions, Inc.	268		9,710
Captaris, Inc. (a)	2,149		9,370
Catapult Communications Corp. (a)	635		4,680
CDC Corp. Class A (a)	5,802		19,611
Check Point Software Technologies Ltd. (a)	10,558		262,155
Citrix Systems, Inc. (a)	8,946		306,222
ClickSoftware Technologies Ltd. (a)	691		2,094
CommVault Systems, Inc. (a)	2,256		39,503
Compuware Corp. (a)	13,648		139,073
Concur Technologies, Inc. (a)	2,208		80,967
Convera Corp. Class A (a)(d)	4,146		5,763
Corel Corp. (a)	975		10,637
Dassault Systemes SA sponsored ADR	63		4,232
Deltek, Inc.	1,900		19,076
DemandTec, Inc.	1,327		11,651
Descartes Systems Group, Inc. (a)	893		3,470
Digimarc Corp. (a)	2,232		24,798
Double-Take Software, Inc. (a)	967		12,610
ebix.com, Inc. (a)	161		14,551
ECtel Ltd. (a)	243		481
Electronic Arts, Inc. (a)	15,622		784,224
Epicor Software Corp. (a)	3,021		25,920
EPIQ Systems, Inc. (a)	2,218		36,575
Evolving Systems, Inc. (a)	203		473
FalconStor Software, Inc. (a)	2,755		24,630
Fundtech Ltd. (a)	1,244		15,612
Glu Mobile, Inc. (a)	2,413		11,896
Gravity Co. Ltd. sponsored ADR (a)	917		1,357
Guidance Software, Inc. (a)	905		9,041
i2 Technologies, Inc. (a)	1,200		14,400
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Software - continued
Informatica Corp. (a)	4,425		$ 79,650
Interactive Intelligence, Inc. (a)	995		12,965
Intervoice, Inc. (a)	1,422		9,186
Intuit, Inc. (a)	15,984		462,897
Iona Technologies PLC sponsored ADR (a)	1,741		6,302
Jack Henry & Associates, Inc.	4,221		100,460
JDA Software Group, Inc. (a)	1,443		29,437
KongZhong Corp. sponsored ADR (a)	751		3,417
Lawson Software, Inc. (a)	9,037		78,803
Logility, Inc. (a)	978		6,435
Macrovision Solutions Corp. (a)	4,619		62,495
Magic Software Enterprises Ltd. (a)	1,246		2,268
Magma Design Automation, Inc. (a)	1,786		13,484
Majesco Entertainment Co. (a)	700		924
Manhattan Associates, Inc. (a)	1,474		37,440
Mentor Graphics Corp. (a)	4,138		48,208
MICROS Systems, Inc. (a)	3,864		127,396
Microsoft Corp.	458,946		12,997,325
MicroStrategy, Inc. Class A (a)	430		34,232
Moldflow Corp. (a)	881		19,382
Monotype Imaging Holdings, Inc.	1,789		24,527
MSC.Software Corp. (a)	2,247		27,795
Napster, Inc. (a)	1,962		3,041
NDS Group PLC sponsored ADR (a)	792		41,398
Net 1 UEPS Technologies, Inc. (a)	2,600		72,696
NetScout Systems, Inc. (a)	2,649		33,669
Novell, Inc. (a)	17,547		124,233
Nuance Communications, Inc. (a)	10,657		210,156
OpenTV Corp. Class A (a)	3,140		4,616
Opnet Technologies, Inc. (a)	1,106		10,452
Oracle Corp. (a)	253,107		5,780,964
Parametric Technology Corp. (a)	5,741		107,816
Pegasystems, Inc.	1,561		19,232
Perfect World Co. Ltd. sponsored ADR Class B	1,157		31,204
Pervasive Software, Inc. (a)	1,282		5,987
Phoenix Technologies Ltd. (a)	1,781		19,057
Plato Learning, Inc. (a)	886		2,330
Progress Software Corp. (a)	2,033		63,308
QAD, Inc.	2,253		17,258
Quality Systems, Inc.	1,446		47,617
Quest Software, Inc. (a)	5,523		93,946
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Software - continued
Radiant Systems, Inc. (a)	1,704		$ 23,106
Renaissance Learning, Inc.	2,093		31,290
Retalix Ltd. (a)	909		13,808
Salary.com, Inc. (a)	857		3,857
Secure Computing Corp. (a)	3,492		18,612
Shanda Interactive Entertainment Ltd. sponsored ADR (a)	1,870		60,719
Smith Micro Software, Inc. (a)	1,606		13,555
Sonic Foundry, Inc. (a)	4,781		3,251
Sonic Solutions, Inc. (a)	1,220		11,712
Sourcefire, Inc. (a)	1,189		9,084
SourceForge, Inc. (a)	4,499		7,018
SPSS, Inc. (a)	1,117		43,976
SuccessFactors, Inc.	2,300		25,530
SumTotal Systems, Inc. (a)	2,233		10,383
Symantec Corp. (a)	41,650		905,055
Symyx Technologies, Inc. (a)	1,829		14,047
Synchronoss Technologies, Inc. (a)(d)	1,589		21,118
Synopsys, Inc. (a)	7,026		185,135
Take-Two Interactive Software, Inc. (a)	3,652		98,860
Taleo Corp. Class A (a)	1,343		26,578
TeleCommunication Systems, Inc. Class A (a)	1,617		8,522
The9 Ltd. sponsored ADR (a)	956		24,751
THQ, Inc. (a)	3,036		65,122
TIBCO Software, Inc. (a)	9,729		75,108
TiVo, Inc. (a)	5,166		43,446
Ultimate Software Group, Inc. (a)	1,395		52,773
Unica Corp. (a)	960		8,064
Vasco Data Security International, Inc. (a)	1,959		25,389
Veraz Networks, Inc. (d)	1,800		3,456
Versant Corp. (a)	349		11,667
Wave Systems Corp. Class A (a)	3,430		3,602
Wind River Systems, Inc. (a)	4,522		48,928
			28,175,698
TOTAL INFORMATION TECHNOLOGY			96,017,002
MATERIALS - 1.4%
Chemicals - 0.5%
A. Schulman, Inc.	1,603		36,212
ADA-ES, Inc. (a)	172		1,687
Altair Nanotechnologies, Inc. (a)(d)	2,936		7,017
Common Stocks - continued
	Shares		Value
MATERIALS - continued
Chemicals - continued
American Pacific Corp. (a)	617		$ 10,458
Balchem Corp.	788		19,479
Fuwei Films Holdings Co. Ltd. (a)	926		2,732
GenTek, Inc. (a)	691		20,253
Hawkins, Inc.	1,094		16,574
ICO, Inc. (a)	1,832		12,897
Innophos Holdings, Inc.	1,409		39,269
Innospec, Inc.	1,134		27,919
KMG Chemicals, Inc.	572		6,275
Landec Corp. (a)	1,498		11,999
Methanex Corp.	4,329		122,354
Nanophase Technologies Corp. (a)	626		2,035
Penford Corp.	697		15,188
ShengdaTech, Inc. (a)(d)	2,933		24,197
Sigma Aldrich Corp.	6,477		380,589
Zoltek Companies, Inc. (a)(d)	1,700		51,391
			808,525
Construction Materials - 0.0%
U.S. Concrete, Inc. (a)	1,257		6,599
United States Lime & Minerals, Inc. (a)	327		12,181
			18,780
Containers & Packaging - 0.1%
AEP Industries, Inc. (a)	305		7,991
Caraustar Industries, Inc. (a)	1,168		2,686
Silgan Holdings, Inc.	1,848		105,761
Smurfit-Stone Container Corp. (a)	12,161		81,844
			198,282
Metals & Mining - 0.8%
Anglo American PLC ADR	6,000		205,680
Century Aluminum Co. (a)	1,987		145,051
China Natural Resources, Inc. (a)(d)	507		11,448
China Precision Steel, Inc. (a)(d)	3,260		18,256
DRDGOLD Ltd. sponsored ADR (a)	2,357		18,903
Esmark, Inc. (a)	1,808		34,171
Haynes International, Inc. (a)	550		37,582
Horsehead Holding Corp.	1,615		22,691
Kaiser Aluminum Corp.	1,011		64,856
Lihir Gold Ltd. sponsored ADR	912		26,256
Olympic Steel, Inc.	572		37,169
Pan American Silver Corp. (a)	3,957		131,175
Common Stocks - continued
	Shares		Value
MATERIALS - continued
Metals & Mining - continued
Randgold Resources Ltd. sponsored ADR	2,886		$ 122,366
Royal Gold, Inc.	1,772		54,471
Schnitzer Steel Industries, Inc. Class A	1,091		109,253
Silver Standard Resources, Inc. (a)	2,954		89,004
Steel Dynamics, Inc.	9,287		335,261
Universal Stainless & Alloy Products, Inc. (a)	308		12,154
US Energy Corp.	949		2,543
			1,478,290
Paper & Forest Products - 0.0%
Mercer International, Inc. (SBI) (a)	2,806		22,504
Pope Resources, Inc. LP	213		6,969
			29,473
TOTAL MATERIALS			2,533,350
TELECOMMUNICATION SERVICES - 1.4%
Diversified Telecommunication Services - 0.5%
012 Smile.Communications Ltd.	840		9,458
8X8, Inc. (a)	2,302		2,670
Alaska Communication Systems Group, Inc.	2,238		28,960
Arbinet-thexchange, Inc.	800		3,040
Atlantic Tele-Network, Inc.	773		23,159
Cbeyond, Inc. (a)	1,221		22,650
Cogent Communications Group, Inc. (a)	2,278		37,473
Consolidated Communications Holdings, Inc.	1,553		23,295
D&E Communications, Inc.	1,468		14,137
General Communications, Inc. Class A (a)	2,951		21,719
Gilat Satellite Networks Ltd. (a)	1,826		20,068
Global Crossing Ltd. (a)	2,783		50,428
Globalstar, Inc. (a)	4,226		12,340
HickoryTech Corp.	972		8,233
iBasis, Inc.	3,580		11,993
Level 3 Communications, Inc. (a)	76,528		262,491
NTELOS Holdings Corp.	2,024		56,510
PAETEC Holding Corp. (a)	6,776		59,900
Shenandoah Telecommunications Co.	1,482		24,275
SureWest Communications	663		6,511
Telefonos de Mexico SA de CV Series A sponsored ADR	257		10,588
Common Stocks - continued
	Shares		Value
TELECOMMUNICATION SERVICES - continued
Diversified Telecommunication Services - continued
Time Warner Telecom, Inc. Class A (sub. vtg.) (a)	7,732		$ 144,588
Warwick Valley Telephone Co.	420		4,964
			859,450
Wireless Telecommunication Services - 0.9%
America Movil SAB de CV Series A sponsored ADR	375		22,294
Centennial Communications Corp. Class A (a)	5,196		39,334
Clearwire Corp. (a)(d)	7,602		107,720
FiberTower Corp. (a)	6,611		10,115
ICO Global Communications Holdings Ltd. Class A (a)	6,456		29,052
IPCS, Inc.	733		21,990
Kratos Defense & Security Solutions, Inc. (a)	2,684		5,234
Leap Wireless International, Inc. (a)	3,488		200,420
Linktone Ltd. sponsored ADR (a)	452		958
Millicom International Cellular SA	5,336		618,229
NII Holdings, Inc. (a)	8,263		414,803
Partner Communications Co. Ltd. ADR	817		19,812
Rural Cellular Corp. Class A (a)	828		37,061
SBA Communications Corp. Class A (a)	5,317		197,899
Terrestar Corp. (a)	3,900		18,915
USA Mobility, Inc.	1,571		12,332
			1,756,168
TOTAL TELECOMMUNICATION SERVICES			2,615,618
UTILITIES - 0.1%
Electric Utilities - 0.1%
Enernoc, Inc.	958		14,226
MGE Energy, Inc.	1,089		37,407
Otter Tail Corp.	1,544		57,962
			109,595
Gas Utilities - 0.0%
Delta Natural Gas Co., Inc.	344		10,158
EnergySouth, Inc.	465		25,203
			35,361
Water Utilities - 0.0%
Artesian Resources Corp. Class A	433		7,950
Cadiz, Inc. (a)(d)	828		13,902
Connecticut Water Service, Inc.	559		13,561
Consolidated Water Co., Inc.	699		13,833
Common Stocks - continued
	Shares		Value
UTILITIES - continued
Water Utilities - continued
Middlesex Water Co.	728		$ 13,424
Pure Cycle Corp. (a)	764		4,653
Southwest Water Co.	1,718		17,695
York Water Co.	618		9,060
			94,078
TOTAL UTILITIES			239,034
TOTAL COMMON STOCKS (Cost $156,320,135)		182,623,239

U.S. Treasury Obligations - 0.3%
	Principal Amount
U.S. Treasury Bills, yield at date of purchase 1.25% to 1.65% 6/26/08 (e) (Cost $598,223)	$ 600,000	599,214

Money Market Funds - 3.6%
	Shares
Fidelity Cash Central Fund, 2.44% (b)	2,274,804		2,274,804
Fidelity Securities Lending Cash Central Fund, 2.42% (b)(c)	4,478,635		4,478,635
TOTAL MONEY MARKET FUNDS (Cost $6,753,439)		6,753,439
TOTAL INVESTMENT PORTFOLIO - 102.1% (Cost $163,671,797)			189,975,892
NET OTHER ASSETS - (2.1)%			(3,916,898)
NET ASSETS - 100%		$ 186,058,994

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/ (Depreciation)
Purchased
Equity Index Contracts
82 NASDAQ 100 E-Mini Index Contracts	June 2008	$ 3,337,810	$ 434,761

The face value of futures purchased as a percentage of net assets - 1.8%

Legend

(a) Non-income producing

(d) Security or a portion of the security is on loan at period end.

(e) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $599,214.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund	Income earned
Fidelity Cash Central Fund	$ 96,465
Fidelity Securities Lending Cash Central Fund	98,161
Total	$ 194,626

Other Information

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities	$ 189,975,892	$ 189,376,678	$ 599,214	$ -
Other Financial Instruments*	$ 434,761	$ 434,761	$ -	$ -

*Other financial instruments include Futures Contracts.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements

Statement of Assets and Liabilities

	May 31, 2008 (Unaudited)

Assets
Investment in securities, at value (including securities loaned of $4,347,543) - See accompanying schedule: Unaffiliated issuers (cost $156,918,358)	$ 183,222,453
Fidelity Central Funds (cost $6,753,439)	6,753,439
Total Investments (cost $163,671,797)		$ 189,975,892
Cash		160,634
Receivable for investments sold		274,693
Receivable for fund shares sold		294,184
Dividends receivable		156,288
Distributions receivable from Fidelity Central Funds		34,200
Receivable for daily variation on futures contracts		18,908
Prepaid expenses		324
Receivable from investment adviser for expense reductions		34,120
Other receivables		31
Total assets		190,949,274

Liabilities
Payable for investments purchased	$ 182,719
Payable for fund shares redeemed	85,325
Accrued management fee	36,474
Distribution fees payable	25,899
Other affiliated payables	27,367
Other payables and accrued expenses	53,861
Collateral on securities loaned, at value	4,478,635
Total liabilities		4,890,280

Net Assets		$ 186,058,994
Net Assets consist of:
Paid in capital		$ 159,279,678
Undistributed net investment income		602,726
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions		(562,250)
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies		26,738,840
Net Assets, for 5,550,095 shares outstanding		$ 186,058,994
Net Asset Value, offering price and redemption price per share ($186,058,994 ÷ 5,550,095 shares)		$ 33.52

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

Statement of Operations

		Six months ended May 31, 2008 (Unaudited)

Investment Income
Dividends		$ 733,715
Interest		7,468
Income from Fidelity Central Funds (including $98,161 from security lending)		194,626
Total income		935,809

Expenses
Management fee	$ 210,288
Transfer agent fees	121,555
Distribution fees	52,591
Licensing fees	52,591
Accounting and security lending fees	34,269
Custodian fees and expenses	3,421
Independent trustees' compensation	374
Registration fees	11,480
Audit	26,104
Legal	492
Miscellaneous	14,670
Total expenses before reductions	527,835
Expense reductions	(221,679)	306,156
Net investment income (loss)		629,653
Realized and Unrealized Gain (Loss) Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers	1,178,711
Foreign currency transactions	306
Futures contracts	(1,093,825)
Total net realized gain (loss)		85,192
Change in net unrealized appreciation (depreciation) on: Investment securities	(10,268,768)
Assets and liabilities in foreign currencies	(16)
Futures contracts	453,530
Total change in net unrealized appreciation (depreciation)		(9,815,254)
Net gain (loss)		(9,730,062)
Net increase (decrease) in net assets resulting from operations		$ (9,100,409)

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Statement of Changes in Net Assets

	Six months ended May 31, 2008 (Unaudited)	Year ended November 30, 2007
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 629,653	$ 969,693
Net realized gain (loss)	85,192	2,655,870
Change in net unrealized appreciation (depreciation)	(9,815,254)	13,942,137
Net increase (decrease) in net assets resulting from operations	(9,100,409)	17,567,700
Distributions to shareholders from net investment income	(955,824)	(554,801)
Distributions to shareholders from net realized gain	(2,655,065)	(1,394,836)
Total distributions	(3,610,889)	(1,949,637)
Share transactions Proceeds from sales of shares	34,811,476	98,042,961
Reinvestment of distributions	3,480,678	1,892,026
Cost of shares redeemed	(30,121,299)	(104,531,786)
Net increase (decrease) in net assets resulting from share transactions	8,170,855	(4,596,799)
Redemption fees	28,851	137,143
Total increase (decrease) in net assets	(4,511,592)	11,158,407

Net Assets
Beginning of period	190,570,586	179,412,179
End of period (including undistributed net investment income of $602,726 and undistributed net investment income of $1,012,249, respectively)	$ 186,058,994	$ 190,570,586
Other Information Shares
Sold	1,081,292	2,856,015
Issued in reinvestment of distributions	97,635	57,435
Redeemed	(940,784)	(3,047,231)
Net increase (decrease)	238,143	(133,781)

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Highlights

	Six months ended May 31, 2008	Years ended November 30,
	(Unaudited)	2007	2006	2005	2004	2003 ^H
Selected Per-Share Data
Net asset value, beginning of period	$ 35.88	$ 32.95	$ 30.32	$ 28.79	$ 26.97	$ 25.00
Income from Investment Operations
Net investment income (loss) ^D	.12	.18	.14	.09	.38 ^G	.01
Net realized and unrealized gain (loss)	(1.81)	3.07	2.69	1.86	1.47	1.95
Total from investment operations	(1.69)	3.25	2.83	1.95	1.85	1.96
Distributions from net investment income	(.18)	(.10)	(.08)	(.30)	(.02)	-
Distributions from net realized gain	(.50)	(.25)	(.13)	(.14)	(.04)	-
Total distributions	(.68)	(.35)	(.21)	(.44)	(.06)	-
Redemption fees added to paid in capital ^D	.01	.03	.01	.02	.03	.01
Net asset value, end of period	$ 33.52	$ 35.88	$ 32.95	$ 30.32	$ 28.79	$ 26.97
Total Return^B,C	(4.80)%	10.05%	9.42%	6.92%	6.99%	7.88%
Ratios to Average Net Assets^E,I
Expenses before reductions	.60% ^A	.60%	.58%	.65%	.71%	1.30% ^A
Expenses net of fee waivers, if any	.35% ^A	.35%	.42%	.45%	.45%	.45% ^A
Expenses net of all reductions	.35% ^A	.35%	.42%	.45%	.45%	.45% ^A
Net investment income (loss)	.72% ^A	.52%	.47%	.30%	1.41%	.31% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 186,059	$ 190,571	$ 179,412	$ 117,324	$ 103,333	$ 29,687
Portfolio turnover rate ^F	6% ^A	18%	7%	10%	5%	55% ^A

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower had certain expenses not been reduced during the periods shown.

^D Calculated based on average shares outstanding during the period.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^G Investment income per share reflects a special dividend which amounted to $.35 per share.

^H For the period September 25, 2003 (commencement of operations) to November 30, 2003.

^I Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Notes to Financial Statements

For the period ended May 31, 2008 (Unaudited)

1. Organization.

Fidelity Nasdaq Composite Index Fund (the Fund) is a fund of Fidelity Commonwealth Trust (the trust) and is authorized to issue an unlimited number of shares. The trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.

2. Investments in Fidelity Central Funds.

The Fund may invest in Fidelity Central Funds, which are open-end investment companies available only to other investment companies and accounts managed by Fidelity Management & Research Company (FMR) and its affiliates. The Fund's Schedule of Investments lists each of the Fidelity Central Funds as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of FMR.

3. Significant Accounting Policies.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

3. Significant Accounting Policies - continued

Security Valuation - continued

are traded. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value.

Level 1	Quoted prices in active markets for identical securities.
Level 2	Prices determined using other significant observable inputs. Observable inputs are inputs that other market participants would use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others.
Level 3	Prices determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Fund's own assumptions about the factors market participants would use in pricing an investment, and would be based on the best information available.

Changes in valuation techniques may result in transfers in or out of an investment's assigned level within the hierarchy.

A summary of the inputs used as of May 31, 2008, in valuing the Fund's investments is included at the end of the Fund's Schedule of Investments.

Semiannual Report

3. Significant Accounting Policies - continued

Foreign Currency. The Fund uses foreign currency contracts to facilitate transactions in foreign-denominated securities. Losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rate at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds received from litigation. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. The Fund estimates the components of distributions received that may be considered return of capital distributions or capital gain distributions. Interest income and distributions from the Fidelity Central Funds are accrued as earned. Interest income includes coupon interest and amortization of premium and accretion of discount on debt securities. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

and filing its U.S. federal tax return. As a result, no provision for income taxes is required. The Fund is subject to the provisions of FASB Interpretation No. 48, Accounting for Uncertainties in Income Taxes (FIN 48). FIN 48 sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. The implementation of FIN 48 did not result in any unrecognized tax benefits in the accompanying financial statements. Each of the Fund's federal tax returns for the prior three fiscal years remains subject to examination by the Internal Revenue Service. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.

Book-tax differences are primarily due to futures transactions, foreign currency transactions, partnerships, losses deferred due to wash sales and excise tax regulations.

The federal tax cost of investments and unrealized appreciation (depreciation) as of period end were as follows:

Unrealized appreciation	$ 48,104,812
Unrealized depreciation	(22,207,068)
Net unrealized appreciation (depreciation)	$ 25,897,744
Cost for federal income tax purposes	$ 164,078,148

Short-Term Trading (Redemption) Fees. Shares held in the Fund less than 90 days are subject to a redemption fee equal to .75% of the proceeds of the redeemed shares. All redemption fees, including any estimated redemption fees paid by FMR, are retained by the Fund and accounted for as an addition to paid in capital.

Semiannual Report

4. Operating Policies.

Futures Contracts. The Fund may use futures contracts to manage its exposure to the stock market. Buying futures tends to increase a fund's exposure to the underlying instrument, while selling futures tends to decrease a fund's exposure to the underlying instrument or hedge other fund investments. Upon entering into a futures contract, a fund is required to deposit with a clearing broker, no later than the following business day, an amount ("initial margin") equal to a certain percentage of the face value of the contract. The initial margin may be in the form of cash or securities and is transferred to a segregated account on settlement date. Subsequent payments ("variation margin") are made or received by a fund depending on the daily fluctuations in the value of the futures contract and are accounted for as unrealized gains or losses. Realized gains (losses) are recorded upon the expiration or closing of the futures contract. Securities deposited to meet margin requirements are identified in the Schedule of Investments. Futures contracts involve, to varying degrees, risk of loss in excess of any futures variation margin reflected in the Statement of Assets and Liabilities. The underlying face amount at value of any open futures contracts at period end is shown in the Schedule of Investments under the caption "Futures Contracts." This amount reflects each contract's exposure to the underlying instrument at period end. Losses may arise from changes in the value of the underlying instruments or if the counterparties do not perform under the contract's terms.

5. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, aggregated $15,393,617 and $5,311,703, respectively.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

6. Fees and Other Transactions with Affiliates.

Sub-Adviser. Geode Capital Management, LLC (Geode®), serves as sub-adviser for the Fund. Geode provides discretionary investment advisory services to the Fund and is paid by FMR for providing these services.

Distribution and Service Plan. In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted a Distribution and Service Plan. The Fund pays Fidelity Distributors Corporation (FDC), an affiliate of FMR, a distribution fee based on annual percentage of the Fund's average net assets of up to .25%. In addition, FDC pays NASDAQ for marketing services provided to the Fund. For the period, the distribution fees were equivalent to an annualized rate of.06% of average net assets. The total amounts paid to and retained by FDC were $52,591 and $0, respectively.

Transfer Agent Fees. Fidelity Investments Institutional Operations Company, Inc. (FIIOC), an affiliate of FMR, is the Fund's transfer, dividend disbursing and shareholder servicing agent. FIIOC receives account fees and asset-based fees that vary according to account size and type of account. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements. Prior to January 1, 2008, Fidelity Service Company, Inc. (FSC), also an affiliate of FMR was the Fund's transfer agent. For the period the transfer agent fees were equivalent to an annualized rate of .14% of average net assets.

Accounting and Security Lending Fees. FSC maintains the Fund's accounting records. The accounting fee is based on the level of average net assets for the month. Under a separate contract, FSC administers the security lending program. The security lending fee is based on the number and duration of lending transactions.

Licensing Fees. Under the terms of a license agreement, FMR pays NASDAQ an annual licensing fee for the use of the NASDAQ Composite Index. FMR has entered into a sub-license agreement with the Fund whereby the Fund pays FMR the amount of the license fee at the rate of up to .06% of the Fund's average net assets.

7. Committed Line of Credit.

The Fund participates with other funds managed by FMR in a $4.2 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The Fund has agreed to pay commitment fees on its pro rata portion of the line of credit, which amounted to $174 and is reflected in Miscellaneous Expense on the Statement of Operations. During the period, there were no borrowings on this line of credit.

Semiannual Report

8. Security Lending.

9. Expense Reductions.

FMR contractually agreed to waive expenses of the Fund to the extent annual operating expenses exceeded .35% of average net assets. This waiver will remain in place through January 31, 2009. Some expenses, for example interest expense, including commitment fees, are excluded from this waiver. During the period this waiver reduced the Fund's expenses by $221,133.

In addition, through arrangements with the Fund's custodian and transfer agent, credits realized as a result of uninvested cash balances were used to reduce the Fund's expenses. During the period, these credits reduced the Fund's custody and transfer agent expenses by $349 and $197, respectively.

10. Other.

Semiannual Report

Proxy Voting Results

PROPOSAL 1
To elect a Board of Trustees.^A
	# of Votes	% of Votes
James C. Curvey
Affirmative	23,727,587,776.19	95.875
Withheld	1,020,991,311.90	4.125
TOTAL	24,748,579,088.09	100.000
Dennis J. Dirks
Affirmative	23,825,239,061.03	96.269
Withheld	923,340,027.06	3.731
TOTAL	24,748,579,088.09	100.000
Edward C. Johnson 3d
Affirmative	23,651,709,495.75	95.568
Withheld	1,096,869,592.34	4.432
TOTAL	24,748,579,088.09	100.000
Alan J. Lacy
Affirmative	23,800,282,191.08	96.168
Withheld	948,296,897.01	3.832
TOTAL	24,748,579,088.09	100.000
Ned C. Lautenbach
Affirmative	23,793,631,497.85	96.141
Withheld	954,947,590.24	3.859
TOTAL	24,748,579,088.09	100.000
Joseph Mauriello
Affirmative	23,811,616,983.60	96.214
Withheld	936,962,104.49	3.786
TOTAL	24,748,579,088.09	100.000
Cornelia M. Small
Affirmative	23,802,118,377.97	96.176
Withheld	946,460,710.12	3.824
TOTAL	24,748,579,088.09	100.000
	# of Votes	% of Votes
William S. Stavropoulos
Affirmative	23,739,468,362.04	95.923
Withheld	1,009,110,726.05	4.077
TOTAL	24,748,579,088.09	100.000
David M. Thomas
Affirmative	23,821,835,168.41	96.255
Withheld	926,743,919.68	3.745
TOTAL	24,748,579,088.09	100.000
Michael E. Wiley
Affirmative	23,809,071,367.86	96.204
Withheld	939,507,720.23	3.796
TOTAL	24,748,579,088.09	100.000
PROPOSAL 2
To amend the Declaration of Trust of Fidelity Commonwealth Trust to reduce the required quorum for future shareholder meetings.^A
	# of Votes	% of Votes
Affirmative	20,666,515,787.64	83.506
Against	2,780,145,204.68	11.233
Abstain	858,047,822.92	3.468
Broker Non-Votes	443,870,272.85	1.793
TOTAL	24,748,579,088.09	100.000

^A Denotes trust-wide proposal and voting results.

Annual Report

Investment Adviser

Fidelity Management & Research Company

Boston, MA

Investment Sub-Advisers

FMR Co., Inc.

Geode Capital Management, LLC

General Distributor

Fidelity Distributors Corporation

Boston, MA

Transfer and Service Agents

Fidelity Investments Institutional Operations Company, Inc.
Boston, MA

Fidelity Service Company, Inc.
Boston, MA

Custodian

JPMorgan Chase Bank
New York, NY

The Fidelity Telephone Connection

1-800-FIDELITY

EIF-USAN-0708
1.802767.104

fid3842

Fidelity®
Nasdaq Composite® Index Tracking Stock

Semiannual Report

May 31, 2008
(2_fidelity_logos) (Registered_Trademark)

Chairman's Message	<Click Here>	Ned Johnson's message to shareholders.
Premium/Discount Analysis	<Click Here>	Information regarding the fund's NAV and market price.
Shareholder Expense Example	<Click Here>	An example of shareholder expenses.
Investment Changes	<Click Here>	A summary of major shifts in the fund's investments over the past six months.
Investments	<Click Here>	A complete list of the fund's investments with their market values.
Financial Statements	<Click Here>	Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
Notes	<Click Here>	Notes to the financial statements.
Report of Independent Registered Public Accounting Firm	<Click Here>
Proxy Voting Results	<Click Here>

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com (search for "proxy voting guidelines") or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-800-FIDELITY to request a free copy of the proxy voting guidelines.

Geode is a registered trademark of Geode Capital Management, LLC.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.

Semiannual Report

NOT FDIC INSURED · MAY LOSE VALUE · NO BANK GUARANTEE

Neither the fund nor Fidelity Distributors Corporation is a bank.

Semiannual Report

Chairman's Message

(photo_of_Edward_C_Johnson_3d)

Dear Shareholder:

Sincerely,
/s/Edward C. Johnson 3d

Edward C. Johnson 3d

Semiannual Report

Premium/Discount Analysis (Unaudited)

Shares of Fidelity® Nasdaq Composite® Index Tracking Stock (the fund) are listed on the Nasdaq Stock Market and can be bought and sold on the secondary market at market prices. Although the market price is expected to approximate the fund's NAV, it is possible that the market price and NAV will vary significantly. The closing market price is the daily closing price as reported on the Nasdaq Stock Market.

Premiums or discounts are the differences (expressed as a basis point differential with 1 basis point equaling 1/100 of 1%) between the fund's NAV and closing market price. A premium indicates that the closing market price is trading above the NAV. A discount indicates that the closing market price is trading below the NAV. A discrepancy may exist with respect to the timing of when the NAV is calculated and the determination of the closing market price.

The chart below presents information about the differences between the fund's daily closing market price and the fund's NAV.

Period Ended May 31, 2008

From commencement of operations*
to May 31, 2008		Closing Price Below NAV		Closing Price Above or Equal to NAV
	Basis Point Differential	Number of Days	% of Total Days	Number of Days	% of Total Days
	0 - <25	646	54.84%	476	40.41%
	25 - <50	31	2.63%	15	1.27%
	50 - <75	6	.51%	3	.26%
	75 - <100	0	-	0	-
	100 or above	1	0.08%	0	-
	Total	684	58.06%	494	41.94%

*September 25, 2003

Annual Report

Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (December 1, 2007 to May 31, 2008).

Actual Expenses

The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the Fund's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Semiannual Report

Shareholder Expense Example - continued

	Beginning Account Value December 1, 2007	Ending Account Value May 31, 2008	Expenses Paid During Period* December 1, 2007 to May 31, 2008
Actual	$ 1,000.00	$ 952.00	$ 1.46
Hypothetical (5% return per year before expenses)	$ 1,000.00	$ 1,023.50	$ 1.52

* Expenses are equal to the Fund's annualized expense ratio of .30%; multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period).

Semiannual Report

Investment Changes (Unaudited)

Top Ten Stocks as of May 31, 2008
	% of fund's net assets	% of fund's net assets 6 months ago
Microsoft Corp.	7.1	8.0
Apple, Inc.	4.5	4.0
Cisco Systems, Inc.	4.3	4.3
Google, Inc. Class A (sub. vtg.)	3.7	4.1
Intel Corp.	3.6	3.9
Oracle Corp.	3.2	2.6
QUALCOMM, Inc.	2.1	1.7
Research In Motion Ltd.	2.1	1.6
Gilead Sciences, Inc.	1.4	1.1
Amgen, Inc.	1.3	1.5
	33.3
Market Sectors as of May 31, 2008
	% of fund's net assets	% of fund's net assets 6 months ago
Information Technology	52.4	52.1
Health Care	12.9	13.4
Consumer Discretionary	12.2	12.3
Financials	8.6	9.1
Industrials	6.9	6.4
Energy	1.9	1.5
Consumer Staples	1.8	1.8
Telecommunication Services	1.4	1.5
Materials	1.4	1.2
Utilities	0.1	0.2
Asset Allocation (% of fund's net assets)

To match the NASDAQ Composite® Index, Fidelity Nasdaq Composite Index Fund seeks 100% investment exposure to stocks at all times.

Semiannual Report

Investments May 31, 2008

Showing Percentage of Net Assets

Common Stocks - 99.6%
	Shares		Value
CONSUMER DISCRETIONARY - 12.2%
Auto Components - 0.3%
Aftermarket Technology Corp. (a)	757		$ 16,949
Amerigon, Inc. (a)	829		10,296
Amerityre Corp. (a)	966		1,652
Ballard Power Systems, Inc. (a)(d)	3,620		15,494
China Automotive Systems, Inc. (a)	711		4,622
Dorman Products, Inc. (a)	336		3,192
Exide Technologies (a)	2,168		35,750
Federal-Mogul Corp. Class A (a)	2,841		56,763
Fuel Systems Solutions, Inc. (a)	743		20,715
Gentex Corp.	4,230		74,279
Hayes Lemmerz International, Inc. (a)	2,437		9,553
Noble International Ltd.	1,268		7,215
Quantum Fuel Systems Technologies Worldwide, Inc. (a)	5,531		13,440
Shiloh Industries, Inc.	592		5,873
Spartan Motors, Inc.	575		5,192
Wonder Auto Technology, Inc. (a)	850		7,242
			288,227
Automobiles - 0.0%
Nissan Motor Co. Ltd. sponsored ADR (d)	1,367		24,264
Distributors - 0.1%
Audiovox Corp. Class A (a)	262		2,793
Core-Mark Holding Co., Inc. (a)	240		6,970
DXP Enterprises, Inc. (a)	324		13,329
LKQ Corp. (a)	4,150		91,964
Source Interlink Companies, Inc. (a)	1,153		1,372
			116,428
Diversified Consumer Services - 0.6%
American Public Education, Inc.	401		14,873
Apollo Group, Inc. Class A (non-vtg.) (a)	4,933		235,748
Capella Education Co. (a)	520		33,753
Career Education Corp. (a)	2,682		49,054
Coinstar, Inc. (a)	953		36,309
Corinthian Colleges, Inc. (a)	2,459		31,475
INVESTools, Inc. (a)	1,849		14,829
Lincoln Educational Services Corp. (a)	623		7,738
Matthews International Corp. Class A	972		46,277
Princeton Review, Inc. (a)	848		6,513
Steiner Leisure Ltd. (a)	471		18,209
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Diversified Consumer Services - continued
Stewart Enterprises, Inc. Class A	3,069		$ 21,176
Strayer Education, Inc.	431		86,157
			602,111
Hotels, Restaurants & Leisure - 1.5%
AFC Enterprises, Inc. (a)	755		7,550
Ambassadors Group, Inc.	720		13,363
Ambassadors International, Inc.	393		2,488
Ameristar Casinos, Inc.	1,381		24,609
Benihana, Inc. (a)	95		856
Benihana, Inc. Class A (sub. vtg.)	189		1,690
BJ's Restaurants, Inc. (a)	884		11,333
Bob Evans Farms, Inc.	983		28,615
Buffalo Wild Wings, Inc. (a)	479		15,783
California Pizza Kitchen, Inc. (a)	798		11,100
Caribou Coffee Co., Inc. (a)	459		982
Carrols Restaurant Group, Inc. (a)	516		3,581
CBRL Group, Inc.	564		16,610
Century Casinos, Inc. (a)	775		3,100
Churchill Downs, Inc.	506		21,626
Cosi, Inc. (a)	1,702		5,174
Ctrip.com International Ltd. sponsored ADR	1,945		113,549
Denny's Corp. (a)	4,062		16,492
Einstein Noah Restaurant Group, Inc. (a)	600		8,424
Empire Resorts, Inc. (a)	1,323		5,014
FortuNet, Inc. (a)	395		2,492
Gaming Partners International Corp. (a)	297		1,761
Great Wolf Resorts, Inc. (a)	1,234		8,576
Home Inns & Hotels Management, Inc. sponsored ADR (a)	627		15,405
International Speedway Corp. Class A	965		42,827
Isle of Capri Casinos, Inc. (a)	984		6,740
Jamba, Inc. (a)(d)	1,954		4,533
Magna Entertainment Corp. Class A (sub. vtg.) (a)	2,434		1,047
McCormick & Schmick's Seafood Restaurants (a)	588		5,598
Melco PBL Entertainment (Macau) Ltd. sponsored ADR (a)	3,768		44,802
Monarch Casino & Resort, Inc. (a)	720		9,972
Morgans Hotel Group Co. (a)	971		12,497
MTR Gaming Group, Inc. (a)	1,170		6,318
Multimedia Games, Inc. (a)	810		4,406
O'Charleys, Inc.	753		8,358
P.F. Chang's China Bistro, Inc. (a)	679		18,048
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Hotels, Restaurants & Leisure - continued
Panera Bread Co. Class A (a)	862		$ 44,772
Papa John's International, Inc. (a)	765		22,514
Peet's Coffee & Tea, Inc. (a)	473		11,049
Penn National Gaming, Inc. (a)	2,504		116,236
Premier Exhibitions, Inc. (a)	1,124		5,553
Progressive Gaming International Corp. (a)	956		1,386
Red Robin Gourmet Burgers, Inc. (a)	583		19,595
Rick's Cabaret International, Inc. (a)	412		8,874
Ruth's Chris Steak House, Inc. (a)	471		3,325
Scientific Games Corp. Class A (a)	2,885		93,272
Shuffle Master, Inc. (a)	1,072		6,689
Sonic Corp. (a)	1,693		32,472
Starbucks Corp. (a)	21,464		390,430
Texas Roadhouse, Inc. Class A (a)	2,587		28,535
The Cheesecake Factory, Inc. (a)(d)	1,986		39,780
Town Sports International Holdings, Inc. (a)	843		7,022
Trump Entertainment Resorts, Inc. (a)	1,234		4,319
Wynn Resorts Ltd.	3,359		336,001
Youbet.com, Inc. (a)	1,618		2,395
			1,679,538
Household Durables - 0.4%
Avatar Holdings, Inc. (a)	201		6,969
Bassett Furniture Industries, Inc.	622		7,458
California Coastal Communities, Inc. (a)	547		2,500
Cavco Industries, Inc. (a)	173		6,631
Comstock Homebuilding Companies, Inc. Class A (a)	258		163
Craftmade International, Inc.	330		2,152
Directed Electronics, Inc. (a)	431		664
Dixie Group, Inc. (a)	384		2,803
Flexsteel Industries, Inc.	655		7,533
Garmin Ltd. (d)	6,396		311,165
Helen of Troy Ltd. (a)	789		14,099
Hooker Furniture Corp.	577		11,644
iRobot Corp. (a)	676		9,478
Lifetime Brands, Inc.	396		2,776
Makita Corp. sponsored ADR	73		3,078
Palm Harbor Homes, Inc. (a)	820		6,207
Stanley Furniture Co., Inc.	666		7,899
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Household Durables - continued
Syntax-Brillian Corp. (a)(d)	1,998		$ 1,598
Universal Electronics, Inc. (a)	503		12,786
			417,603
Internet & Catalog Retail - 1.8%
1-800-FLOWERS.com, Inc. Class A (a)	1,323		10,954
Amazon.com, Inc. (a)	12,250		999,845
Blue Nile, Inc. (a)	501		26,708
dELiA*s, Inc. (a)	918		2,341
Drugstore.com, Inc. (a)	2,403		5,215
Expedia, Inc. (a)	7,650		185,513
Gaiam, Inc. Class A (a)	615		9,539
GSI Commerce, Inc. (a)	1,366		19,793
IAC/InterActiveCorp (a)	7,285		164,277
Liberty Media Corp. - Interactive Series A (a)	17,310		294,097
Netflix, Inc. (a)(d)	1,724		52,341
NutriSystem, Inc. (d)	1,005		20,623
Overstock.com, Inc. (a)	710		17,942
PC Mall, Inc. (a)	417		5,396
PetMed Express, Inc. (a)	910		12,695
Priceline.com, Inc. (a)	1,126		151,481
Shutterfly, Inc. (a)	622		8,963
Stamps.com, Inc. (a)	504		7,358
US Auto Parts Network, Inc. (a)	905		3,358
ValueVision Media, Inc. Class A (a)	1,197		5,279
			2,003,718
Leisure Equipment & Products - 0.1%
Arctic Cat, Inc.	581		4,596
JAKKS Pacific, Inc. (a)	917		21,641
Pool Corp.	1,724		35,532
RC2 Corp. (a)	647		12,494
Smith & Wesson Holding Corp. (a)	1,127		6,503
			80,766
Media - 5.0%
ACME Communications, Inc. (a)	1,344		2,016
AirMedia Group, Inc. ADR	390		6,833
Alloy, Inc. (a)	449		3,861
Beasley Broadcast Group, Inc. Class A	700		3,290
Carmike Cinemas, Inc.	449		3,727
Central European Media Enterprises Ltd. Class A (a)	1,050		111,699
Charter Communications, Inc. Class A (a)	14,017		22,287
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Media - continued
CKX, Inc. (a)	3,301		$ 34,892
Comcast Corp.:
Class A	60,070		1,351,575
Class A (special) (non-vtg.)	27,753		618,614
Crown Media Holdings, Inc. Class A (a)(d)	2,725		13,680
CTC Media, Inc. (a)	4,455		123,314
Cumulus Media, Inc. Class A (a)	1,497		7,859
DG FastChannel, Inc. (a)	480		9,427
Discovery Holding Co. Class A (a)	7,884		206,482
DISH Network Corp. Class A (a)	6,189		217,296
Emmis Communications Corp. Class A (a)	865		2,569
Entertainment Distribution Co., Inc. (a)	2,368		1,066
Fisher Communications, Inc. (a)	275		9,658
Focus Media Holding Ltd. ADR (a)	3,408		137,308
Global Sources Ltd. (d)	1,378		20,808
Harris Interactive, Inc. (a)	2,020		3,838
IMAX Corp. (a)	1,929		13,947
Knology, Inc. (a)	1,456		21,592
Lakes Entertainment, Inc. (a)	931		5,186
Lamar Advertising Co. Class A (a)	2,276		95,251
Liberty Global, Inc.:
Class A (a)	4,706		168,710
Class B (a)(d)	153		4,959
Class C (a)	4,616		155,928
Liberty Media Corp.:
- Capital Series A (a)	4,418		65,475
- Entertainment Class A (a)	14,379		388,233
LodgeNet Entertainment Corp. (a)	852		5,547
MDC Partners, Inc. Class A (sub. vtg.) (a)	1,201		9,308
Mediacom Communications Corp. Class A (a)	3,083		19,145
Morningstar, Inc. (a)	1,343		95,286
National CineMedia, Inc.	1,593		31,701
Navarre Corp. (a)	1,070		1,894
Net Servicos de Comunicacao SA sponsored ADR	440		6,318
New Frontier Media, Inc.	1,081		5,502
Outdoor Channel Holdings, Inc. (a)	1,401		11,082
Private Media Group, Inc. (a)	1,737		3,109
Radio One, Inc.:
Class A (a)	692		768
Class D (non-vtg.) (a)	2,337		2,734
RCN Corp.	915		11,081
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Media - continued
Regent Communication, Inc. (a)	1,932		$ 1,893
Rentrak Corp. (a)	371		5,175
RRSat Global Communications Network Ltd.	678		8,367
Salem Communications Corp. Class A	590		1,457
Scholastic Corp. (a)	1,261		39,217
Sinclair Broadcast Group, Inc. Class A	2,224		19,949
Sirius Satellite Radio, Inc. (a)(d)	45,999		115,917
Spanish Broadcasting System, Inc. Class A (a)	1,317		1,857
The DIRECTV Group, Inc. (a)	33,380		937,978
Thomson Reuters PLC ADR	71		13,779
Value Line, Inc.	455		17,995
Virgin Media, Inc.	10,159		159,395
WorldSpace, Inc. Class A (a)(d)	1,944		3,130
WPP Group PLC sponsored ADR	422		25,594
WPT Enterprises, Inc. (a)	556		639
Xinhua Finance Media Ltd. sponsored ADR (a)	684		2,025
XM Satellite Radio Holdings, Inc. Class A (a)	8,775		93,278
Young Broadcasting, Inc. Class A (a)	643		116
			5,482,616
Multiline Retail - 0.4%
Dollar Tree, Inc. (a)	2,778		102,508
Fred's, Inc. Class A	1,366		17,143
Sears Holdings Corp. (a)(d)	3,908		331,086
The Bon-Ton Stores, Inc.	383		2,551
Tuesday Morning Corp. (a)	1,223		6,335
			459,623
Specialty Retail - 1.6%
A.C. Moore Arts & Crafts, Inc. (a)	634		4,432
America's Car Mart, Inc. (a)	363		5,986
bebe Stores, Inc.	3,049		34,850
Bed Bath & Beyond, Inc. (a)	7,595		241,977
Big 5 Sporting Goods Corp.	786		7,066
Books-A-Million, Inc.	559		4,198
Cache, Inc. (a)	507		6,434
Casual Male Retail Group, Inc. (a)	994		4,065
Charlotte Russe Holding, Inc. (a)	521		9,774
Charming Shoppes, Inc. (a)	3,787		22,002
Citi Trends, Inc. (a)	451		10,012
Coldwater Creek, Inc. (a)	2,508		16,402
Conn's, Inc. (a)(d)	811		14,006
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Specialty Retail - continued
Cost Plus, Inc. (a)	623		$ 2,012
Dress Barn, Inc. (a)	1,937		29,965
Finish Line, Inc. Class A	1,388		11,007
Golfsmith International Holdings, Inc. (a)	427		918
Gymboree Corp. (a)	862		39,773
Hibbett Sports, Inc. (a)	861		18,098
Hot Topic, Inc. (a)	1,399		7,345
Jos. A. Bank Clothiers, Inc. (a)	467		12,702
Kirkland's, Inc. (a)	684		1,847
Monro Muffler Brake, Inc.	841		15,584
Mothers Work, Inc. (a)	94		1,143
NexCen Brands, Inc. (a)	2,075		1,370
O'Reilly Automotive, Inc. (a)	3,324		86,923
Pacific Sunwear of California, Inc. (a)	2,056		19,532
PetSmart, Inc.	3,935		92,236
Pomeroy IT Solutions, Inc. (a)	701		4,199
Rent-A-Center, Inc. (a)	1,980		41,540
Restoration Hardware, Inc. (a)	1,506		5,964
Ross Stores, Inc.	3,878		142,012
Select Comfort Corp. (a)	1,507		4,446
Shoe Carnival, Inc. (a)	183		2,672
Staples, Inc.	20,422		478,896
Stein Mart, Inc.	1,299		7,495
The Children's Place Retail Stores, Inc. (a)	888		30,565
Tractor Supply Co. (a)	1,104		37,724
Trans World Entertainment Corp. (a)	352		947
Ulta Salon, Cosmetics & Fragrance, Inc.	1,597		22,773
Urban Outfitters, Inc. (a)	4,812		154,898
West Marine, Inc. (a)	667		3,002
Wet Seal, Inc. Class A (a)	3,906		17,499
Wilsons Leather Experts, Inc. (a)	1,186		166
Winmark Corp. (a)	507		8,746
Zumiez, Inc. (a)	876		18,361
			1,703,564
Textiles, Apparel & Luxury Goods - 0.4%
Blue Holdings, Inc. (a)	1,230		578
Charles & Colvard Ltd.	552		740
Cherokee, Inc.	297		8,087
Columbia Sportswear Co.	1,014		44,433
Crocs, Inc. (a)(d)	2,377		24,269
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Textiles, Apparel & Luxury Goods - continued
Deckers Outdoor Corp. (a)	398		$ 54,415
FGX International Ltd.	446		4,598
Fossil, Inc. (a)	1,839		58,315
Fuqi International, Inc.	676		7,625
G-III Apparel Group Ltd. (a)	1,018		16,889
Heelys, Inc. (a)	699		3,069
Iconix Brand Group, Inc. (a)	1,850		26,825
K-Swiss, Inc. Class A	774		12,399
LJ International, Inc. (a)	719		2,588
Lululemon Athletica, Inc. (d)	1,370		43,826
Perry Ellis International, Inc. (a)	544		14,829
Steven Madden Ltd. (a)	730		14,958
Tandy Brands Accessories, Inc.	734		3,369
True Religion Apparel, Inc. (a)	698		17,645
Volcom, Inc. (a)	621		15,730
Wacoal Holdings Corp. sponsored ADR	155		10,142
Weyco Group, Inc.	656		18,873
			404,202
TOTAL CONSUMER DISCRETIONARY			13,262,660
CONSUMER STAPLES - 1.8%
Beverages - 0.2%
Central European Distribution Corp. (a)	1,273		90,841
Coca-Cola Bottling Co. Consolidated	231		11,947
Hansen Natural Corp. (a)(d)	2,646		82,661
Jones Soda Co. (a)	1,113		3,116
MGP Ingredients, Inc.	459		3,397
National Beverage Corp.	1,808		13,578
			205,540
Food & Staples Retailing - 1.1%
Andersons, Inc.	522		22,112
Arden Group, Inc. Class A	120		14,076
Casey's General Stores, Inc.	1,378		30,164
Costco Wholesale Corp.	12,697		905,550
Ingles Markets, Inc. Class A	420		10,231
Nash-Finch Co.	334		12,772
Pricesmart, Inc.	895		21,068
Spartan Stores, Inc.	868		20,815
Susser Holdings Corp. (a)	463		5,500
Common Stocks - continued
	Shares		Value
CONSUMER STAPLES - continued
Food & Staples Retailing - continued
The Pantry, Inc. (a)	644		$ 7,857
United Natural Foods, Inc. (a)	1,279		27,204
Whole Foods Market, Inc.	3,972		115,188
Winn-Dixie Stores, Inc. (a)	1,575		28,429
			1,220,966
Food Products - 0.3%
AgFeed Industries, Inc. (a)	764		11,743
Alico, Inc.	185		7,387
Bridgford Foods Corp. (a)	1,399		9,331
Cal-Maine Foods, Inc.	818		25,522
Calavo Growers, Inc.	557		8,166
Cresud S.A.C.I.F. y A. sponsored ADR	1,676		24,352
Diamond Foods, Inc.	703		14,412
Farmer Brothers Co.	550		13,118
Green Mountain Coffee Roasters, Inc. (a)	698		30,126
Hain Celestial Group, Inc. (a)	1,071		30,813
Imperial Sugar Co.	373		5,409
J&J Snack Foods Corp.	636		18,476
Lancaster Colony Corp.	833		27,297
Lance, Inc.	1,103		23,064
Lifeway Foods, Inc. (a)	587		7,590
Origin Agritech Ltd. (a)(d)	504		3,190
Sanderson Farms, Inc.	710		35,450
Smart Balance, Inc. (a)	1,885		15,608
SunOpta, Inc. (a)	1,192		7,891
Synutra International, Inc. (a)(d)	1,620		53,152
			372,097
Household Products - 0.1%
Central Garden & Pet Co. (a)	973		7,784
Central Garden & Pet Co. Class A (non-vtg.) (a)	2,330		17,382
WD-40 Co.	691		23,936
			49,102
Personal Products - 0.1%
Bare Escentuals, Inc. (a)(d)	2,439		48,926
Chattem, Inc. (a)	581		36,144
Elizabeth Arden, Inc. (a)	1,016		15,250
Inter Parfums, Inc.	681		17,141
Mannatech, Inc. (d)	843		5,328
Nutraceutical International Corp. (a)	905		11,973
Parlux Fragrances, Inc. (a)	829		2,794
Common Stocks - continued
	Shares		Value
CONSUMER STAPLES - continued
Personal Products - continued
Physicians Formula Holdings, Inc. (a)	623		$ 6,242
Reliv International, Inc.	450		2,619
USANA Health Sciences, Inc. (a)(d)	377		9,595
			156,012
Tobacco - 0.0%
Star Scientific, Inc. (a)	2,392		4,640
TOTAL CONSUMER STAPLES			2,008,357
ENERGY - 1.9%
Energy Equipment & Services - 0.5%
Acergy SA sponsored ADR	1,125		29,171
Bronco Drilling Co., Inc. (a)	785		14,271
Dawson Geophysical Co. (a)	321		21,921
Exterran Partners LP	260		8,284
Global Industries Ltd. (a)	3,128		53,958
Gulf Island Fabrication, Inc.	491		20,318
Hercules Offshore, Inc. (a)	2,633		89,311
Lufkin Industries, Inc.	449		35,821
Matrix Service Co. (a)	775		18,685
Mitcham Industries, Inc. (a)	258		5,490
Omni Energy Services Corp. (a)	571		3,232
OYO Geospace Corp. (a)	162		9,140
Patterson-UTI Energy, Inc.	4,199		132,185
PHI, Inc. (non-vtg.) (a)	357		14,002
Superior Well Services, Inc. (a)	838		20,732
T-3 Energy Services, Inc. (a)	361		23,364
Tesco Corp. (a)	1,079		35,699
Trico Marine Services, Inc. (a)	522		20,040
Union Drilling, Inc. (a)	865		16,245
			571,869
Oil, Gas & Consumable Fuels - 1.4%
Alliance Holdings GP, LP	1,761		49,044
Alliance Resource Partners LP	1,006		46,035
APCO Argentina, Inc.	774		19,814
Approach Resources, Inc.	779		17,481
Atlas America, Inc.	1,179		80,915
ATP Oil & Gas Corp. (a)	1,095		46,702
BreitBurn Energy Partners LP	2,251		48,397
Brigham Exploration Co. (a)	1,615		23,531
Common Stocks - continued
	Shares		Value
ENERGY - continued
Oil, Gas & Consumable Fuels - continued
Calumet Specialty Products Partners LP	434		$ 6,879
Capital Product Partners LP	646		13,127
Carrizo Oil & Gas, Inc. (a)	885		59,260
Clayton Williams Energy, Inc. (a)	341		32,146
Clean Energy Fuels Corp. (d)	1,282		19,166
Copano Energy LLC	1,387		51,111
CREDO Petroleum Corp. (a)	220		3,560
Crosstex Energy LP	1,455		44,654
Crosstex Energy, Inc.	1,474		50,308
Delta Petroleum Corp. (a)	3,224		71,250
Dorchester Minerals LP	665		18,534
Double Eagle Petroleum Co. (a)	289		5,728
Eagle Rock Energy Partners LP	1,394		24,144
Edge Petroleum Corp. (a)	828		4,355
Energy XXI (Bermuda) Ltd. (a)(d)	2,606		18,372
EV Energy Partners LP	250		7,813
FX Energy, Inc. (a)	597		3,122
Geomet, Inc. (a)	1,784		14,700
Georesources, Inc. (a)	349		8,861
GMX Resources, Inc. (a)	478		23,073
Golar LNG Ltd. (NASDAQ)	2,081		38,228
Green Plains Renewable Energy, Inc. (a)	166		1,479
Gulfport Energy Corp. (a)	1,129		17,172
Hiland Holdings GP LP	626		16,871
Hiland Partners LP	206		10,298
Inergy Holdings LP	464		18,444
Inergy LP	1,479		41,575
Ivanhoe Energy, Inc. (a)	7,349		20,577
James River Coal Co. (a)	678		25,825
Knightsbridge Tankers Ltd. (d)	683		23,079
Legacy Reserves LP	921		21,211
Linn Energy LLC	3,626		82,201
Marine Petroleum Trust	403		14,065
Martin Midstream Partners LP	583		20,102
NGAS Resources, Inc. (a)	951		8,664
Pacific Ethanol, Inc. (a)(d)	1,065		3,770
Parallel Petroleum Corp. (a)	1,410		29,624
Petroleum Development Corp. (a)	529		36,554
PrimeEnergy Corp. (a)	116		7,307
Quest Resource Corp. (a)	1,485		16,498
Ram Energy Resources, Inc. (a)	3,246		18,697
Common Stocks - continued
	Shares		Value
ENERGY - continued
Oil, Gas & Consumable Fuels - continued
Regency Energy Partners LP	1,007		$ 27,199
Rex Energy Corp.	917		20,504
Rosetta Resources, Inc. (a)	1,619		43,600
Semgroup Energy Partners LP	872		23,753
StealthGas, Inc.	839		14,280
Syntroleum Corp. (a)	1,976		4,505
Targa Resources Partners LP	1,137		30,165
TC Pipelines LP	1,008		35,633
TEL Offshore Trust	220		6,444
Top Ships, Inc. (a)	1,244		11,072
Toreador Resources Corp. (a)	613		5,652
TransGlobe Energy Corp. (a)	1,345		6,959
TXCO Resources, Inc. (a)	963		10,660
Uranium Resources, Inc. (a)	1,819		8,095
Verenium Corp. (a)(d)	1,665		3,996
Warren Resources, Inc. (a)	1,913		25,864
			1,562,704
TOTAL ENERGY			2,134,573
FINANCIALS - 8.6%
Capital Markets - 2.5%
American Capital Strategies Ltd. (d)	5,636		180,352
BGC Partners, Inc. Class A (a)	1,435		12,800
Broadpoint Securities Group, Inc. (a)	783		2,075
Calamos Asset Management, Inc. Class A	687		13,898
Capital Southwest Corp.	143		17,230
Charles Schwab Corp.	34,091		756,138
Cowen Group, Inc. (a)	427		3,390
Diamond Hill Investment Group, Inc. (a)	132		12,401
E*TRADE Financial Corp. (a)(d)	12,316		50,496
Epoch Holding Corp.	822		8,771
FBR Capital Markets Corp. (d)	2,141		10,983
FCStone Group, Inc. (a)	877		34,317
FirstCity Financial Corp. (a)	634		2,764
GFI Group, Inc.	3,329		39,415
Harris & Harris Group, Inc. (a)	908		7,237
International Assets Holding Corp. (a)	312		8,536
Knight Capital Group, Inc. Class A (a)	2,922		52,041
Northern Trust Corp.	6,472		491,872
optionsXpress Holdings, Inc.	1,737		39,673
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Capital Markets - continued
Penson Worldwide, Inc. (a)	664		$ 8,898
Prospect Capital Corp.	1,092		15,790
Sanders Morris Harris Group, Inc.	723		5,278
SEI Investments Co.	5,937		143,200
T. Rowe Price Group, Inc.	7,633		442,103
TD Ameritrade Holding Corp. (a)	17,665		319,913
Thomas Weisel Partners Group, Inc. (a)	850		5,797
TradeStation Group, Inc. (a)	1,331		14,015
U.S. Global Investments, Inc. Class A	587		8,864
			2,708,247
Commercial Banks - 3.1%
1st Source Corp.	822		17,952
Alliance Financial Corp.	255		6,028
Amcore Financial, Inc.	579		5,674
American National Bankshares, Inc.	380		6,749
American River Bankshares	360		4,975
AmericanWest Bancorp	581		1,946
Ameris Bancorp	522		7,245
Ames National Corp.	261		5,742
Arrow Financial Corp.	637		14,333
Associated Banc-Corp.	3,449		94,192
BancFirst Corp.	440		19,109
Bancorp Rhode Island, Inc.	478		15,889
Bancorp, Inc., Delaware (a)	451		4,803
BancTrust Financial Group, Inc.	936		9,416
Bank of Florida Corp. (a)	418		4,180
Bank of Granite Corp.	754		7,668
Bank of Marin Bancorp	265		7,582
Bank of the Ozarks, Inc.	528		12,867
Banner Corp.	539		9,804
BNC Bancorp	259		3,561
BOK Financial Corp.	1,873		109,065
Boston Private Financial Holdings, Inc.	1,083		9,130
Bridge Capital Holdings (a)	390		5,772
Bryn Mawr Bank Corp.	427		8,988
Capital Bank Corp.	250		2,603
Capital City Bank Group, Inc. (d)	656		17,555
Capital Corp. of the West	306		1,784
Cardinal Financial Corp.	941		8,083
Cascade Bancorp	929		8,147
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Commercial Banks - continued
Cascade Financial Corp.	648		$ 5,832
Cathay General Bancorp	1,432		22,024
Center Bancorp, Inc.	801		7,746
Center Financial Corp., California	418		3,912
Centerstate Banks of Florida, Inc.	460		6,445
Century Bancorp, Inc. Class A (non-vtg.)	363		6,661
Chemical Financial Corp.	681		16,616
Citizens & Northern Corp.	234		4,575
Citizens Banking Corp., Michigan	2,122		11,756
City Bank Lynnwood, Washington	561		8,123
City Holding Co.	542		23,317
CNB Financial Corp., Pennsylvania	512		7,291
CoBiz, Inc.	479		5,068
Colony Bankcorp, Inc.	299		3,379
Columbia Bancorp, Oregon	287		3,275
Columbia Banking Systems, Inc.	598		15,985
Commerce Bancshares, Inc.	2,105		92,452
Community Bancorp (a)	383		3,060
Community Trust Bancorp, Inc.	429		13,145
CVB Financial Corp.	2,332		24,719
Eagle Bancorp, Inc., Maryland	501		5,596
East West Bancorp, Inc.	1,777		23,527
Eastern Virgina Bankshares, Inc.	207		3,488
Enterprise Financial Services Corp.	625		12,531
EuroBancshares, Inc. (a)	319		1,774
Fidelity Southern Corp.	526		3,408
Fifth Third Bancorp	15,348		287,008
Financial Institutions, Inc.	210		3,866
First Bancorp, North Carolina	528		8,876
First Charter Corp.	939		28,902
First Citizen Bancshares, Inc.	258		41,136
First Community Bancshares, Inc.	386		13,120
First Financial Bancorp, Ohio	1,442		16,424
First Financial Bankshares, Inc.	667		30,549
First Financial Corp., Indiana	396		12,969
First M&F Corp.	396		5,536
First Mariner Bancorp, Inc. (a)	646		2,597
First Merchants Corp.	429		10,618
First Midwest Bancorp, Inc., Delaware	1,323		34,530
First of Long Island Corp.	384		8,052
First Regional Bancorp (a)	368		3,927
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Commercial Banks - continued
First South Bancorp, Inc., Virginia	823		$ 15,851
First State Bancorp.	999		7,742
First United Corp.	416		7,729
Firstbank Corp., Michigan	252		3,175
FirstMerit Corp.	2,383		48,160
FNB Corp., North Carolina	295		2,968
Frontier Financial Corp., Washington (d)	1,183		17,390
Fulton Financial Corp.	4,899		61,825
Gateway Financial Holdings, Inc.	570		5,660
German American Bancorp, Inc.	896		11,182
Glacier Bancorp, Inc.	1,531		31,753
Great Southern Bancorp, Inc.	391		4,516
Greater Community Bancorp	605		10,527
Green Bankshares, Inc.	359		6,954
Grupo Financiero Galicia SA sponsored ADR (a)	1,784		9,491
Guaranty Bancorp (a)	1,731		10,369
Hancock Holding Co.	950		42,266
Hanmi Financial Corp.	1,600		10,240
Harleysville National Corp., Pennsylvania	1,114		15,106
Heartland Financial USA, Inc.	528		12,355
Heritage Commerce Corp.	1,036		16,493
Heritage Financial Corp., Washington	209		3,505
Home Bancshares, Inc.	858		19,734
Horizon Financial Corp.	480		5,194
Huntington Bancshares, Inc.	11,055		98,500
IBERIABANK Corp.	374		19,725
Independent Bank Corp., Massachusetts	780		22,854
Independent Bank Corp., Michigan	538		3,233
Integra Bank Corp.	605		8,694
International Bancshares Corp.	1,872		47,436
Intervest Bancshares Corp. Class A	241		2,114
Investors Bancorp, Inc. (a)	3,306		47,243
Lakeland Bancorp, Inc.	884		13,030
Lakeland Financial Corp.	607		14,526
LNB Bancorp, Inc.	647		7,117
Macatawa Bank Corp.	392		3,524
MainSource Financial Group, Inc.	835		14,011
MB Financial, Inc.	1,027		29,239
MBT Financial Corp.	754		6,379
Mercantile Bank Corp.	187		1,573
Merchants Bancshares, Inc.	507		11,651
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Commercial Banks - continued
Metrocorp Bancshares, Inc.	73		$ 938
Midwest Banc Holdings, Inc.	962		8,446
Nara Bancorp, Inc.	1,075		13,674
National Bankshares, Inc.	598		10,644
National Penn Bancshares, Inc.	2,269		38,845
NBT Bancorp, Inc.	928		22,755
NewBridge Bancorp	1,005		9,296
North Valley Bancorp	418		3,816
Northern States Financial Corp.	291		5,232
Northfield Bancorp, Inc. (a)	1,624		18,221
Northrim Bancorp, Inc.	291		5,456
Old Point Financial Corp.	331		5,749
Old Second Bancorp, Inc.	669		12,704
Pacific Capital Bancorp	1,194		23,808
Pacific Continental Corp.	339		5,061
Pacific Mercantile Bancorp	403		3,683
PacWest Bancorp	829		17,475
Penns Woods Bancorp, Inc.	341		10,370
Pennsylvania Communication Bancorp, Inc. (a)	277		7,440
Peoples Bancorp, Inc.	363		8,599
Pinnacle Financial Partners, Inc. (a)	865		23,260
Popular, Inc. (d)	8,461		92,225
Preferred Bank, Los Angeles California	384		3,425
PremierWest Bancorp	527		4,527
PrivateBancorp, Inc.	779		29,509
Prosperity Bancshares, Inc.	1,388		44,333
Provident Bankshares Corp.	874		8,355
Renasant Corp.	579		13,444
Republic Bancorp, Inc., Kentucky Class A	800		19,920
Republic First Bancorp, Inc.	569		2,652
Royal Bancshares of Pennsylvania, Inc. Class A	534		5,078
S&T Bancorp, Inc.	658		21,392
S.Y. Bancorp, Inc.	678		17,106
Sandy Spring Bancorp, Inc.	524		13,876
SCBT Financial Corp.	342		11,389
Seacoast Banking Corp., Florida	632		6,794
Security Bank Corp., Georgia	811		4,461
Shore Bancshares, Inc.	123		2,916
Sierra Bancorp	343		7,556
Signature Bank, New York (a)	850		24,259
Silver State Bancorp (a)	788		2,309
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Commercial Banks - continued
Simmons First National Corp. Class A	521		$ 15,854
Smithtown Bancorp, Inc.	150		3,092
South Financial Group, Inc.	2,244		12,364
Southern Community Financial Corp.	458		3,279
Southside Bancshares, Inc.	551		12,061
Southwest Bancorp, Inc., Oklahoma	709		12,025
State Bancorp, Inc., New York	417		5,817
StellarOne Corp.	871		15,051
Sterling Bancshares, Inc.	2,137		21,840
Sterling Financial Corp., Washington	1,604		14,244
Suffolk Bancorp	512		17,234
Summit Financial Group, Inc.	288		3,692
Sun Bancorp, Inc., New Jersey	562		6,148
Superior Bancorp	256		3,791
Susquehanna Bancshares, Inc., Pennsylvania	2,584		49,742
SVB Financial Group (a)	889		45,561
Taylor Capital Group, Inc.	408		5,243
Temecula Valley Bancorp, Inc. (d)	426		2,565
Texas Capital Bancshares, Inc. (a)	972		17,613
The First Bancorp, Inc.	469		8,386
TIB Financial Corp.	624		4,000
Trico Bancshares	587		9,674
Trustmark Corp.	1,495		29,840
UCBH Holdings, Inc.	2,574		12,561
UMB Financial Corp.	1,125		58,691
Umpqua Holdings Corp. (d)	1,936		26,988
Union Bankshares Corp.	523		10,486
United Bankshares, Inc., West Virginia	1,280		36,339
United Community Banks, Inc., Georgia (d)	1,086		11,360
United Security Bancshares, Inc.	341		5,988
United Security Bancshares, California (d)	656		9,781
Univest Corp. of Pennsylvania	669		16,431
Vineyard National Bancorp (d)	1,301		3,942
Virginia Commerce Bancorp, Inc.	1,181		7,145
VIST Financial Corp.	325		5,450
Washington Banking Co., Oak Harbor	248		3,229
Washington Trust Bancorp, Inc.	280		6,628
WesBanco, Inc.	970		21,340
West Bancorp., Inc.	504		6,048
West Coast Bancorp, Oregon	583		6,745
Westamerica Bancorp.	796		44,178
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Commercial Banks - continued
Whitney Holding Corp.	1,727		$ 39,237
Wilshire Bancorp, Inc.	756		6,751
Wintrust Financial Corp.	598		18,646
Yadkin Valley Financial Corp.	626		9,509
Zions Bancorp	2,972		128,063
			3,411,341
Consumer Finance - 0.1%
Advanta Corp.:
Class A	514		4,061
Class B	786		6,838
Cardtronics, Inc.	1,427		14,070
Cash Systems, Inc. (a)	1,638		622
CompuCredit Corp. (a)	1,495		13,724
Consumer Portfolio Services, Inc. (a)	743		2,118
Credit Acceptance Corp. (a)	930		24,282
Dollar Financial Corp. (a)	667		13,293
EZCORP, Inc. (non-vtg.) Class A (a)	1,227		15,497
First Cash Financial Services, Inc. (a)	809		12,451
QC Holdings, Inc.	601		4,988
United Panam Financial Corp. (a)	589		2,185
World Acceptance Corp. (a)	426		18,838
			132,967
Diversified Financial Services - 0.4%
Ampal-American Israel Corp. Class A (a)	1,440		8,179
Asset Acceptance Capital Corp.	1,058		14,907
Asta Funding, Inc.	372		3,039
Compass Diversified Holdings	1,086		14,878
Elron Electronic Industries Ltd. (a)	838		7,475
Encore Capital Group, Inc. (a)	1,037		10,961
Interactive Brokers Group, Inc.	1,162		37,846
MarketAxess Holdings, Inc. (a)	867		6,780
Marlin Business Services Corp. (a)	438		3,127
Medallion Financial Corp.	807		7,788
NewStar Financial, Inc. (a)	2,247		12,089
PICO Holdings, Inc. (a)	665		27,571
Portfolio Recovery Associates, Inc. (d)	357		14,669
Resource America, Inc. Class A	503		5,050
The NASDAQ Stock Market, Inc. (a)	5,971		209,164
			383,523
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Insurance - 1.1%
21st Century Holding Co.	523		$ 5,371
Affirmative Insurance Holdings, Inc.	417		3,236
Amcomp, Inc. (a)	512		5,678
American National Insurance Co.	763		84,136
American Physicians Capital, Inc.	416		18,936
Amerisafe, Inc. (a)	524		8,326
Amtrust Financial Services, Inc.	1,983		29,666
Arch Capital Group Ltd. (a)	1,904		133,965
Argo Group International Holdings, Ltd. (a)	912		35,194
Baldwin & Lyons, Inc. Class B	426		9,248
Brooke Corp.	594		671
CastlePoint Holdings Ltd.	941		10,153
Cincinnati Financial Corp.	4,623		161,897
CNinsure, Inc. ADR	435		6,803
Donegal Group, Inc. Class A	780		13,970
Eastern Insurance Holdings, Inc.	206		3,368
eHealth, Inc. (a)	797		19,869
EMC Insurance Group	555		15,557
Enstar Group Ltd. (a)	377		40,241
Erie Indemnity Co. Class A	1,500		76,785
FPIC Insurance Group, Inc. (a)	441		20,070
Greenlight Capital Re, Ltd.	818		16,123
Hallmark Financial Services, Inc. (a)	1,093		13,881
Harleysville Group, Inc.	917		35,772
Infinity Property & Casualty Corp.	468		18,870
IPC Holdings Ltd.	1,570		44,588
Kansas City Life Insurance Co.	374		19,646
Life Partners Holdings, Inc.	314		6,892
Max Capital Group Ltd.	1,475		35,577
National Interstate Corp.	533		12,238
National Western Life Insurance Co. Class A	112		26,407
Navigators Group, Inc. (a)	489		24,690
Philadelphia Consolidated Holdings Corp. (a)	2,025		75,431
PMA Capital Corp. Class A (a)	1,159		11,567
Presidential Life Corp.	743		13,092
ProCentury Corp.	546		9,615
Quanta Capital Holdings Ltd. (a)	4,846		12,939
RAM Holdings Ltd. (a)	599		749
Safety Insurance Group, Inc.	398		15,387
SeaBright Insurance Holdings, Inc. (a)	546		8,365
Selective Insurance Group, Inc.	1,598		34,964
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Insurance - continued
Specialty Underwriters' Alliance, Inc. (a)	1,026		$ 4,884
State Auto Financial Corp.	1,181		32,537
Tower Group, Inc.	749		19,526
United America Indemnity Ltd. Class A (a)	623		9,077
United Fire & Casualty Co.	901		32,517
			1,238,474
Real Estate Investment Trusts - 0.0%
Gladstone Commercial Corp.	414		7,464
Investors Real Estate Trust	2,630		27,510
Mission West Properties, Inc.	500		5,865
Monmouth Real Estate Investment Corp. Class A	1,578		11,125
Origen Financial, Inc.	1,542		2,313
			54,277
Real Estate Management & Development - 0.1%
Elbit Imaging Ltd.	768		42,770
FirstService Corp. (sub. vtg.)	1,017		17,116
FX Real Estate & Entertainment, Inc. (a)	1,391		5,439
Housevalues, Inc. (a)	624		1,704
Meruelo Maddux Properties, Inc. (a)	2,339		6,549
Stratus Properties, Inc. (a)	206		5,457
Thomas Properties Group, Inc.	1,388		14,380
ZipRealty, Inc. (a)	906		4,358
			97,773
Thrifts & Mortgage Finance - 1.3%
Abington Bancorp, Inc.	875		8,776
Anchor BanCorp Wisconsin, Inc.	680		9,540
Atlantic Coast Federal Corp.	516		4,494
Bank Mutual Corp.	1,558		17,278
BankFinancial Corp.	896		13,341
BankUnited Financial Corp. Class A (d)	1,004		3,163
Beneficial Mutual Bancorp, Inc. (a)	2,952		34,066
Berkshire Bancorp, Inc.	713		10,909
Berkshire Hills Bancorp, Inc.	539		13,642
Beverly Hills Bancorp, Inc.	1,104		2,760
Brookline Bancorp, Inc., Delaware	1,513		15,206
Camco Financial Corp.	384		4,646
Capitol Federal Financial	2,055		84,255
CFS Bancorp, Inc.	275		3,927
Citizens First Bancorp, Inc., Delaware	330		2,445
Citizens South Banking Corp., Delaware	352		3,228
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Thrifts & Mortgage Finance - continued
Clayton Holdings, Inc. (a)	710		$ 4,182
Clifton Savings Bancorp, Inc.	734		7,479
Cooperative Bankshares, Inc.	463		3,936
Corus Bankshares, Inc. (d)	1,751		10,068
Dime Community Bancshares, Inc.	1,268		23,052
ESB Financial Corp.	1,083		11,686
First Busey Corp. (d)	958		17,455
First Defiance Financial Corp.	252		4,874
First Federal Bancshares of Arkansas, Inc.	314		3,934
First Financial Holdings, Inc.	612		15,349
First Niagara Financial Group, Inc.	3,390		48,036
First PacTrust Bancorp, Inc.	348		5,558
First Place Financial Corp.	648		8,249
Flushing Financial Corp.	955		18,737
Fox Chase Bancorp, Inc. (a)	593		7,442
Franklin Bank Corp. (a)	624		636
HMN Financial, Inc.	168		2,789
Home Federal Bancorp, Inc.	1,234		14,438
Hudson City Bancorp, Inc.	15,334		272,945
K-Fed Bancorp	634		7,215
Kearny Financial Corp.	2,551		29,694
LSB Corp.	579		9,206
MASSBANK Corp.	232		9,136
MutualFirst Financial, Inc.	263		2,683
NASB Financial, Inc.	131		3,347
Northwest Bancorp, Inc.	1,334		32,723
OceanFirst Financial Corp.	764		15,685
Oritani Financial Corp. (a)	1,147		17,893
Pamrapo Bancorp, Inc.	503		7,550
Parkvale Financial Corp.	216		5,666
People's United Financial, Inc.	9,958		164,606
Provident Financial Holdings, Inc.	175		2,263
Provident New York Bancorp	1,617		21,037
Pulaski Financial Corp.	142		1,612
PVF Capital Corp.	231		2,428
Riverview Bancorp, Inc.	968		8,635
Rockville Financial, Inc.	1,250		17,300
Roma Financial Corp.	1,193		17,680
Severn Bancorp, Inc.	580		4,385
TFS Financial Corp.	9,792		121,715
TierOne Corp.	583		4,180
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Thrifts & Mortgage Finance - continued
Triad Guaranty, Inc. (a)	492		$ 1,087
Trustco Bank Corp., New York	2,827		24,765
United Community Financial Corp., Ohio	1,006		6,106
United Financial Bancorp, Inc.	761		9,307
United Western Bancorp, Inc.	193		3,331
ViewPoint Financial Group	1,077		17,437
Washington Federal, Inc.	2,407		53,893
Wauwatosa Holdings, Inc. (a)	1,325		17,318
Willow Financial Bancorp, Inc.	331		3,181
WSFS Financial Corp.	205		10,445
			1,366,030
TOTAL FINANCIALS			9,392,632
HEALTH CARE - 12.9%
Biotechnology - 6.5%
Aastrom Biosciences, Inc. (a)	3,598		1,407
Abraxis BioScience, Inc. (a)	1,169		75,915
Acadia Pharmaceuticals, Inc. (a)	1,696		14,925
Accentia Biopharmaceutical, Inc. (a)(d)	2,075		2,117
Achillion Pharmaceuticals, Inc. (a)	1,387		4,244
Acorda Therapeutics, Inc. (a)	896		19,318
AEterna Zentaris, Inc. (sub. vtg.) (a)	2,250		3,261
Affymax, Inc. (a)	478		7,127
Alexion Pharmaceuticals, Inc. (a)	1,192		85,049
Alkermes, Inc. (a)	2,841		35,995
Allos Therapeutics, Inc. (a)	3,249		20,599
Alnylam Pharmaceuticals, Inc. (a)	1,226		35,407
Altus Pharmaceuticals, Inc. (a)	1,038		4,453
Amgen, Inc. (a)	31,809		1,400,550
Amicus Therapeutics, Inc.	773		8,039
Amylin Pharmaceuticals, Inc. (a)	3,873		123,045
Anadys Pharmaceuticals, Inc. (a)	1,076		3,131
Antigenics, Inc. (a)(d)	1,476		3,410
Arena Pharmaceuticals, Inc. (a)	2,833		14,533
ARIAD Pharmaceuticals, Inc. (a)	3,292		8,493
ArQule, Inc. (a)	1,355		5,799
Array Biopharma, Inc. (a)	1,241		7,719
AVI BioPharma, Inc. (a)	1,427		1,998
BELLUS Health, Inc. (a)	1,684		2,746
BioCryst Pharmaceuticals, Inc. (a)	1,682		4,945
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Biotechnology - continued
Biogen Idec, Inc. (a)	8,748		$ 548,937
BioMarin Pharmaceutical, Inc. (a)	2,994		114,281
Bionovo, Inc. (a)(d)	2,928		2,899
Celgene Corp. (a)	12,758		776,452
Cell Genesys, Inc. (a)	2,430		8,602
Cell Therapeutics, Inc. (a)(d)	1,438		853
Cephalon, Inc. (a)	2,059		139,415
Cepheid, Inc. (a)	1,544		40,638
Combinatorx, Inc. (a)	2,583		9,428
Cougar Biotechnology, Inc. (a)	766		20,697
Critical Therapeutics, Inc. (a)	1,317		408
Crucell NV sponsored ADR (a)	343		6,555
Cubist Pharmaceuticals, Inc. (a)	1,986		37,853
CuraGen Corp. (a)	2,195		2,458
Curis, Inc. (a)	1,888		2,775
CV Therapeutics, Inc. (a)	1,907		16,839
Cytokinetics, Inc. (a)	1,376		5,532
CytRx Corp.	4,197		3,693
deCODE genetics, Inc. (a)	2,086		2,420
Dendreon Corp. (a)(d)	2,777		14,440
Dyax Corp. (a)	2,119		7,798
Dynavax Technologies Corp. (a)	1,201		1,946
Encysive Pharmaceuticals, Inc. (a)	1,791		4,209
EntreMed, Inc. (a)	3,684		2,651
Enzon Pharmaceuticals, Inc. (a)	1,994		17,547
EPIX Pharmaceuticals, Inc. (a)	1,321		2,893
Exact Sciences Corp. (a)	2,184		4,324
Favrille, Inc. (a)	2,074		202
Genelabs Technologies, Inc. (a)	1,317		1,198
Genitope Corp. (a)	1,899		190
Genomic Health, Inc. (a)	856		14,809
GenVec, Inc. (a)	2,913		5,214
Genzyme Corp. (a)	7,811		534,741
Geron Corp. (a)(d)	2,525		10,731
Gilead Sciences, Inc. (a)	27,229		1,506,308
GTx, Inc. (a)	1,083		16,267
Halozyme Therapeutics, Inc. (a)	2,020		10,464
Hana Biosciences, Inc. (a)	914		768
Human Genome Sciences, Inc. (a)	4,027		23,679
Idenix Pharmaceuticals, Inc. (a)	1,617		10,575
Idera Pharmaceuticals, Inc. (a)(d)	1,175		17,625
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Biotechnology - continued
ImClone Systems, Inc. (a)	2,580		$ 112,436
ImmunoGen, Inc. (a)	1,820		8,281
Immunomedics, Inc. (a)(d)	2,766		7,385
Incyte Corp. (a)	2,547		24,731
Indevus Pharmaceuticals, Inc. (a)	2,417		10,852
Infinity Pharmaceuticals, Inc. (a)	223		1,639
Inhibitex, Inc. (a)	1,010		657
InterMune, Inc. (a)	1,070		15,087
Introgen Therapeutics, Inc. (a)	1,175		2,409
Isis Pharmaceuticals, Inc. (a)	2,591		36,637
Keryx Biopharmaceuticals, Inc. (a)	1,498		764
Kosan Biosciences, Inc. (a)	1,285		6,965
La Jolla Pharmaceutical Co. (a)	2,042		3,900
Lexicon Pharmaceuticals, Inc. (a)	4,472		9,436
Ligand Pharmaceuticals, Inc. Class B	3,931		13,798
MannKind Corp. (a)(d)	2,755		8,265
Marshall Edwards, Inc. (a)	1,650		4,670
Martek Biosciences (a)	1,072		40,479
Maxygen, Inc. (a)	1,256		7,398
Medarex, Inc. (a)	3,663		31,905
Memory Pharmaceuticals Corp. (a)	2,368		1,186
Metabasis Therapeutics, Inc. (a)	1,137		2,012
Metabolix, Inc. (a)	753		8,449
Molecular Insight Pharmaceuticals, Inc. (a)	1,048		7,378
Momenta Pharmaceuticals, Inc. (a)	1,235		15,833
Monogram Biosciences, Inc. (a)	4,701		5,171
Myriad Genetics, Inc. (a)	1,411		68,321
Nabi Biopharmaceuticals (a)	2,983		12,350
Neopharm, Inc. (a)	810		494
Neose Technologies, Inc. (a)	980		578
Neurocrine Biosciences, Inc. (a)	1,038		5,117
Neurogen Corp. (a)	1,367		1,135
NeurogesX, Inc.	786		2,672
Northfield Laboratories, Inc. (a)	1,022		910
Novacea, Inc. (a)	1,005		3,256
Novavax, Inc. (a)	2,281		6,843
NPS Pharmaceuticals, Inc. (a)	1,748		7,866
Nuvelo, Inc. (a)	1,682		1,295
Nymox Pharmaceutical Corp. (a)	853		3,634
Omrix Biopharmaceuticals, Inc. (a)	515		9,368
ONYX Pharmaceuticals, Inc. (a)	1,653		58,417
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Biotechnology - continued
Orchid Cellmark, Inc. (a)	1,877		$ 5,312
OREXIGEN Therapeutics, Inc.	896		7,804
Orthologic Corp. (a)	1,932		1,990
Oscient Pharmaceuticals Corp. (a)	1,131		2,375
OSI Pharmaceuticals, Inc. (a)	1,771		62,516
Osiris Therapeutics, Inc. (a)(d)	972		13,618
OXiGENE, Inc. (a)	1,241		2,048
Panacos Pharmaceuticals, Inc. (a)	2,620		1,415
PDL BioPharma, Inc.	3,387		34,717
Peregrine Pharmaceuticals, Inc. (a)	5,072		2,181
Pharmacopeia Drug Discovery, Inc. (a)	1,230		5,301
Pharmacyclics, Inc. (a)	857		883
Pharmasset, Inc.	700		12,670
Poniard Pharmaceuticals, Inc. (a)	1,377		5,453
Progenics Pharmaceuticals, Inc. (a)	939		15,381
QLT, Inc. (a)	2,547		10,061
Regeneron Pharmaceuticals, Inc. (a)	2,209		43,959
Repligen Corp. (a)	1,037		5,983
Rigel Pharmaceuticals, Inc. (a)	1,160		27,074
RXi Pharmaceuticals Corp.	209		2,023
Sangamo Biosciences, Inc. (a)(d)	1,322		14,648
Savient Pharmaceuticals, Inc. (a)	1,699		45,261
SciClone Pharmaceuticals, Inc. (a)	1,408		2,520
Seattle Genetics, Inc. (a)	2,345		21,926
Senomyx, Inc. (a)	1,120		5,790
Sonus Pharmaceuticals, Inc. (a)	2,019		686
StemCells, Inc. (a)	2,413		3,402
Sunesis Pharmaceuticals, Inc. (a)	1,394		2,788
Targacept, Inc. (a)	777		6,154
Telik, Inc. (a)(d)	1,778		3,858
Tercica, Inc. (a)	1,703		7,255
Theravance, Inc. (a)	1,506		20,376
Third Wave Technologies, Inc. (a)	1,813		19,236
Threshold Pharmaceuticals, Inc. (a)	1,504		466
TorreyPines Therapeutics, Inc. (a)	805		1,071
Trimeris, Inc.	653		3,879
Trubion Pharmaceuticals, Inc. (a)(d)	502		3,122
United Therapeutics Corp. (a)	672		64,183
Vanda Pharmaceuticals, Inc. (a)	955		4,469
Vertex Pharmaceuticals, Inc. (a)	4,408		126,201
Vical, Inc. (a)	1,517		4,839
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Biotechnology - continued
XOMA Ltd. (a)	5,441		$ 10,882
Zymogenetics, Inc. (a)(d)	2,028		18,293
			7,067,587
Health Care Equipment & Supplies - 1.9%
Abaxis, Inc. (a)	829		24,364
Abiomed, Inc. (a)	918		13,568
Accuray, Inc. (a)	1,606		15,353
Align Technology, Inc. (a)	1,938		25,523
Alphatec Holdings, Inc. (a)	1,960		9,722
American Medical Systems Holdings, Inc. (a)	2,080		31,429
Analogic Corp.	374		25,065
Angiodynamics, Inc. (a)	416		6,444
Anika Therapeutics, Inc. (a)	907		7,891
ArthroCare Corp. (a)	827		36,479
Aspect Medical Systems, Inc. (a)	876		4,687
Atrion Corp.	93		9,812
BioLase Technology, Inc. (a)	765		2,486
Candela Corp. (a)	481		1,198
Cardiac Science Corp. (a)	295		2,785
Cardica, Inc. (a)	648		4,614
Cardiodynamics International Corp. (a)	304		553
Cerus Corp. (a)	1,320		6,521
China Medical Technologies, Inc. sponsored ADR	643		25,353
Clinical Data, Inc. (a)	708		13,537
Conceptus, Inc. (a)	807		15,317
CONMED Corp. (a)	939		25,062
Cutera, Inc. (a)	309		3,164
Cyberonics, Inc. (a)	1,018		18,049
Cynosure, Inc. Class A (a)	237		5,814
Datascope Corp.	473		20,207
DENTSPLY International, Inc.	4,506		182,673
DexCom, Inc. (a)	699		5,515
Endologix, Inc. (a)	1,726		4,539
ev3, Inc. (a)	2,718		27,044
Exactech, Inc. (a)	335		8,908
Gen-Probe, Inc. (a)	1,542		87,801
Given Imaging Ltd. (a)	961		14,415
Hansen Medical, Inc. (a)	533		9,557
HealthTronics, Inc. (a)	839		3,171
Hologic, Inc. (a)	7,675		184,430
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Health Care Equipment & Supplies - continued
Home Diagnostics, Inc. (a)	494		$ 3,922
I-Flow Corp. (a)	1,092		14,993
ICU Medical, Inc. (a)	484		12,332
IDEXX Laboratories, Inc. (a)	1,773		89,537
Immucor, Inc. (a)	2,255		60,502
Insulet Corp.	730		11,899
Integra LifeSciences Holdings Corp. (a)	800		33,616
Intuitive Surgical, Inc. (a)	1,136		333,518
IRIS International, Inc. (a)	493		7,799
Kensey Nash Corp. (a)	429		12,604
Masimo Corp.	1,755		60,653
Medical Action Industries, Inc. (a)	506		6,720
Meridian Bioscience, Inc.	1,237		36,281
Merit Medical Systems, Inc. (a)	730		11,622
Micrus Endovascular Corp. (a)	414		4,682
Natus Medical, Inc. (a)	800		17,248
Neogen Corp. (a)	449		11,827
NeuroMetrix, Inc. (a)	431		922
NMT Medical, Inc. (a)	610		2,922
Northstar Neuroscience, Inc. (a)	618		1,044
NUCRYST Pharmaceuticals Corp. (a)	686		816
NuVasive, Inc. (a)	1,030		43,600
NxStage Medical, Inc. (a)	896		4,346
OccuLogix, Inc. (a)	1,153		196
OraSure Technologies, Inc. (a)	1,311		7,132
Orthofix International NV (a)	621		20,207
Orthovita, Inc. (a)	2,304		5,760
Osteotech, Inc. (a)	635		3,886
Palomar Medical Technologies, Inc. (a)	579		6,404
Quidel Corp. (a)	832		14,202
Rochester Medical Corp. (a)	381		4,751
RTI Biologics, Inc. (a)	1,996		19,860
Shamir Optical Industry Ltd.	439		3,341
Sirona Dental Systems, Inc. (a)	1,651		48,969
Somanetics Corp. (a)	376		6,648
Sonic Innovations, Inc. (a)	481		1,924
SonoSite, Inc. (a)	539		16,558
Staar Surgical Co. (a)	765		2,563
Stereotaxis, Inc. (a)	1,245		6,561
SurModics, Inc. (a)	506		22,689
Syneron Medical Ltd. (a)	842		13,666
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Health Care Equipment & Supplies - continued
Synovis Life Technologies, Inc. (a)	347		$ 6,794
The Spectranetics Corp. (a)	1,316		14,344
ThermoGenesis Corp. (a)	2,445		3,594
Thoratec Corp. (a)	1,728		28,564
TomoTherapy, Inc.	1,368		12,189
Trinity Biotech PLC sponsored ADR (a)	373		1,522
Urologix, Inc. (a)	565		718
Utah Medical Products, Inc.	406		11,368
Vascular Solutions, Inc. (a)	876		5,650
Vital Signs, Inc.	451		25,612
Vnus Medical Technologies, Inc. (a)	743		13,040
Volcano Corp. (a)	1,499		20,896
Wright Medical Group, Inc. (a)	1,049		31,145
Xtent, Inc. (a)	645		2,354
Young Innovations, Inc.	374		7,652
Zoll Medical Corp. (a)	767		27,804
			2,085,018
Health Care Providers & Services - 1.5%
Air Methods Corp. (a)	427		16,457
Allied Healthcare International, Inc. (a)	2,424		4,266
Allion Healthcare, Inc. (a)	360		2,153
Amedisys, Inc. (a)	763		38,768
America Service Group, Inc. (a)	339		3,054
American Dental Partners, Inc. (a)	296		3,558
AmSurg Corp. (a)	972		26,516
Animal Health International, Inc. (a)	665		4,515
athenahealth, Inc.	840		26,603
Bio-Reference Laboratories, Inc. (a)	408		10,135
BioScrip, Inc. (a)	1,168		5,011
BMP Sunstone Corp. (a)(d)	1,267		9,287
CardioNet, Inc.	642		16,448
Chindex International, Inc. (a)	454		10,751
Corvel Corp. (a)	343		12,351
Cross Country Healthcare, Inc. (a)	783		12,113
Dialysis Corp. of America (a)	406		2,964
Express Scripts, Inc. (a)	7,373		531,667
Genoptix, Inc.	360		9,760
Gentiva Health Services, Inc. (a)	1,169		23,544
Health Grades, Inc. (a)	1,113		6,277
HealthExtras, Inc. (a)	1,268		39,625
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Health Care Providers & Services - continued
Healthways, Inc. (a)	1,106		$ 35,724
Henry Schein, Inc. (a)	2,484		138,408
HMS Holdings Corp. (a)	580		11,733
Hythiam, Inc. (a)	1,460		3,504
InVentiv Health, Inc. (a)	1,079		35,283
LCA-Vision, Inc.	655		5,443
LHC Group, Inc. (a)	572		12,395
LifePoint Hospitals, Inc. (a)	1,586		50,736
Lincare Holdings, Inc. (a)	2,452		63,899
Magellan Health Services, Inc. (a)	1,073		43,188
Medcath Corp. (a)	544		11,805
MWI Veterinary Supply, Inc. (a)	517		19,811
Nighthawk Radiology Holdings, Inc. (a)	885		6,753
NovaMed Eyecare, Inc. (a)	709		2,786
Odyssey Healthcare, Inc. (a)	1,076		11,739
Patterson Companies, Inc. (a)	3,863		131,381
PDI, Inc. (a)	459		3,787
Providence Service Corp. (a)	594		15,711
PSS World Medical, Inc. (a)	1,750		31,885
Psychiatric Solutions, Inc. (a)	1,634		59,592
ResCare, Inc. (a)	1,005		19,165
Rotech Healthcare, Inc. (a)	607		106
Rural/Metro Corp. (a)	804		2,115
Sun Healthcare Group, Inc. (a)	1,377		19,774
TLC Vision Corp. (a)	2,128		3,192
U.S. Physical Therapy, Inc. (a)	502		8,614
VCA Antech, Inc. (a)	2,441		76,574
Virtual Radiologic Corp.	304		3,101
			1,644,027
Health Care Technology - 0.3%
Allscripts Healthcare Solutions, Inc. (a)	1,708		21,230
AMICAS, Inc. (a)	1,932		5,313
Cerner Corp. (a)	2,403		109,024
Computer Programs & Systems, Inc.	451		8,997
Eclipsys Corp. (a)	1,531		31,232
Emageon, Inc. (a)	557		1,281
HLTH Corp. (a)	5,137		61,284
MedAssets, Inc.	1,739		31,059
Merge Healthcare, Inc. (a)	1,197		826
Omnicell, Inc. (a)	1,051		13,957
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Health Care Technology - continued
Phase Forward, Inc. (a)	1,590		$ 27,571
SXC Health Solutions Corp. (a)	1,103		17,952
Transcend Services, Inc. (a)	361		3,837
TriZetto Group, Inc. (a)	1,410		30,273
Vital Images, Inc. (a)	381		5,886
			369,722
Life Sciences Tools & Services - 1.0%
Accelrys, Inc. (a)	906		5,907
Affymetrix, Inc. (a)	2,485		29,969
Albany Molecular Research, Inc. (a)	1,017		14,218
AMAG Pharmaceuticals, Inc.	444		17,760
Bruker BioSciences Corp. (a)	5,197		60,493
Caliper Life Sciences, Inc. (a)	1,310		4,690
Dionex Corp. (a)	562		40,981
eResearchTechnology, Inc. (a)	1,544		24,689
Exelixis, Inc. (a)	2,918		18,442
Harvard Bioscience, Inc. (a)	370		1,776
ICON PLC sponsored ADR (a)	845		59,573
Illumina, Inc. (a)	1,676		131,532
Invitrogen Corp. (a)	2,734		125,655
Kendle International, Inc. (a)	485		18,328
Luminex Corp. (a)	1,091		24,264
Medivation, Inc. (a)	680		10,316
Medtox Scientific, Inc. (a)	259		3,771
Nektar Therapeutics (a)	2,744		12,238
PAREXEL International Corp. (a)	1,583		38,926
Pharmaceutical Product Development, Inc.	3,317		146,645
PharmaNet Development Group, Inc. (a)	440		7,427
QIAGEN NV (a)	5,714		113,766
Sequenom, Inc. (a)	1,232		9,474
Techne Corp. (a)	1,123		88,156
Varian, Inc. (a)	821		45,557
			1,054,553
Pharmaceuticals - 1.7%
Acusphere, Inc. (a)	1,594		1,052
Adolor Corp. (a)	1,244		7,053
Akorn, Inc. (a)	2,388		11,343
Alexza Pharmaceuticals, Inc. (a)	919		4,705
Anesiva, Inc. (a)	907		3,184
Angiotech Pharmaceuticals, Inc. (a)	2,523		7,111
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Pharmaceuticals - continued
APP Pharmaceuticals, Inc. (a)	4,669		$ 61,911
Atherogenics, Inc. (a)	1,252		747
Auxilium Pharmaceuticals, Inc. (a)	1,161		36,966
AVANIR Pharmaceuticals Class A (a)	1,186		1,423
Barrier Therapeutics, Inc. (a)	1,353		3,328
Biodel, Inc. (d)	544		8,524
BioForm Medical, Inc.	1,780		7,868
BioMimetic Therapeutics, Inc. (a)	303		3,621
Cadence Pharmaceuticals, Inc. (a)	754		5,044
Cardiome Pharma Corp. (a)	1,741		16,210
Columbia Laboratories, Inc. (a)	1,153		4,381
Cypress Bioscience, Inc. (a)	1,136		9,247
DepoMed, Inc. (a)	2,268		8,936
Discovery Laboratories, Inc. (a)	2,731		5,107
Durect Corp. (a)	2,900		13,485
Emisphere Technologies, Inc. (a)	1,065		1,960
Endo Pharmaceuticals Holdings, Inc. (a)	3,718		91,612
Eurand NV	1,235		18,562
Flamel Technologies SA sponsored ADR (a)(d)	754		7,729
Hi-Tech Pharmacal Co., Inc. (a)	307		2,824
Hollis-Eden Pharmaceuticals, Inc. (a)	586		885
Inspire Pharmaceuticals, Inc. (a)	1,868		7,323
Ista Pharmaceuticals, Inc. (a)	1,433		2,938
Jazz Pharmaceuticals, Inc.	701		5,363
Labopharm, Inc. (a)	1,410		2,597
Map Pharmaceuticals, Inc.	525		7,271
Matrixx Initiatives, Inc. (a)	332		5,485
Medicines Co. (a)	1,443		26,407
MiddleBrook Pharmaceuticals, Inc. (a)(d)	2,799		13,379
Nastech Pharmaceutical Co., Inc. (a)	736		876
NitroMed, Inc. (a)	906		1,114
Noven Pharmaceuticals, Inc. (a)	852		10,428
Novogen Ltd. sponsored ADR (a)	242		1,817
Obagi Medical Products, Inc. (a)	872		7,822
Pain Therapeutics, Inc. (a)	1,617		13,146
Penwest Pharmaceuticals Co. (a)	613		1,913
Perrigo Co.	2,782		101,849
Pozen, Inc. (a)	894		12,284
Replidyne, Inc. (a)	1,263		1,667
Salix Pharmaceuticals Ltd. (a)	1,491		11,451
Santarus, Inc. (a)	1,811		4,401
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Pharmaceuticals - continued
Sciele Pharma, Inc. (a)	988		$ 21,647
Sepracor, Inc. (a)	3,037		65,630
Shire PLC sponsored ADR	1,827		94,200
Sirtris Pharmaceuticals, Inc.	898		20,187
Somaxon Pharmaceuticals, Inc. (a)	557		2,367
Spectrum Pharmaceuticals, Inc. (a)	1,778		3,200
Sucampo Pharmaceuticals, Inc. Class A	560		5,981
SuperGen, Inc. (a)	1,408		3,534
Teva Pharmaceutical Industries Ltd. sponsored ADR	17,747		811,570
ViroPharma, Inc. (a)	2,067		19,823
Vivus, Inc. (a)	2,361		16,149
Warner Chilcott Ltd. (a)	7,318		127,187
XenoPort, Inc. (a)	808		34,970
Zila, Inc. (a)	2,652		663
			1,811,457
TOTAL HEALTH CARE			14,032,364
INDUSTRIALS - 6.9%
Aerospace & Defense - 0.3%
AeroVironment, Inc. (a)	485		12,891
American Science & Engineering, Inc.	306		15,673
Applied Energetics, Inc. (a)(d)	3,070		6,232
Applied Signal Technology, Inc.	490		7,580
Argon ST, Inc. (a)	577		13,929
Ascent Solar Technologies, Inc. (a)	503		6,453
Astronics Corp. (a)	179		3,120
BE Aerospace, Inc. (a)	2,769		96,777
Ceradyne, Inc. (a)	775		33,426
Elbit Systems Ltd.	1,199		75,129
Herley Industries, Inc. (a)	570		9,160
Innovative Solutions & Support, Inc. (a)	632		4,892
Ladish Co., Inc. (a)	455		14,792
LMI Aerospace, Inc. (a)	349		7,259
MTC Technologies, Inc. (a)	484		11,534
Sypris Solutions, Inc.	719		3,228
Taser International, Inc. (a)(d)	1,998		14,046
			336,121
Air Freight & Logistics - 0.8%
Air Transport Services Group, Inc. (a)	1,591		2,625
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Air Freight & Logistics - continued
Atlas Air Worldwide Holdings, Inc. (a)	614		$ 38,007
C.H. Robinson Worldwide, Inc.	4,917		317,147
Dynamex, Inc. (a)	409		10,254
Expeditors International of Washington, Inc.	6,080		286,246
Forward Air Corp.	1,096		40,607
Hub Group, Inc. Class A (a)	1,246		44,956
Pacer International, Inc.	1,148		25,784
Park-Ohio Holdings Corp. (a)	534		8,021
UTI Worldwide, Inc.	2,962		70,377
			844,024
Airlines - 0.2%
Allegiant Travel Co. (a)	522		10,910
JetBlue Airways Corp. (a)	6,278		24,924
MAIR Holdings, Inc. (a)	1,186		4,981
Mesa Air Group, Inc. (a)	1,203		866
Pinnacle Airlines Corp. (a)	944		6,145
Republic Airways Holdings, Inc. (a)	1,257		15,310
Ryanair Holdings PLC sponsored ADR (a)	3,503		92,304
SkyWest, Inc.	1,804		27,890
UAL Corp.	3,306		28,233
			211,563
Building Products - 0.1%
Aaon, Inc.	864		18,161
American Woodmark Corp.	472		10,634
Apogee Enterprises, Inc.	903		21,437
Builders FirstSource, Inc. (a)(d)	830		6,076
Gibraltar Industries, Inc.	841		13,565
Insteel Industries, Inc.	681		10,916
PGT, Inc. (a)	714		2,192
Universal Forest Products, Inc.	539		18,288
			101,269
Commercial Services & Supplies - 1.3%
51job, Inc. sponsored ADR (a)	597		11,743
Advisory Board Co. (a)	551		25,440
American Ecology Corp.	610		17,519
Arrowhead Research Corp. (a)(d)	1,519		3,752
Barrett Business Services, Inc.	303		3,984
Casella Waste Systems, Inc. Class A (a)	863		9,631
CECO Environmental Corp. (a)	373		2,369
Cintas Corp.	4,368		128,943
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Commercial Services & Supplies - continued
Clean Harbors, Inc. (a)	686		$ 48,727
Comsys IT Partners, Inc. (a)	450		4,518
Copart, Inc. (a)	2,548		114,660
Corporate Executive Board Co.	1,114		50,319
CoStar Group, Inc. (a)	561		26,311
Courier Corp.	310		7,282
CRA International, Inc. (a)	352		12,274
Diamond Management & Technology Consultants, Inc.	1,321		7,001
Exponent, Inc. (a)	608		19,833
First Advantage Corp. Class A (a)	373		7,486
Fuel Tech, Inc. (a)(d)	723		18,393
G&K Services, Inc. Class A	525		18,370
GeoEye, Inc. (a)	496		8,457
Healthcare Services Group, Inc.	1,067		18,822
Heidrick & Struggles International, Inc.	567		16,245
Herman Miller, Inc.	1,598		39,630
Hudson Highland Group, Inc. (a)	721		9,034
Huron Consulting Group, Inc. (a)	528		28,296
ICF International, Inc. (a)	392		7,201
ICT Group, Inc. (a)	612		6,487
InnerWorkings, Inc. (a)	1,510		19,373
Interface, Inc. Class A	1,610		22,798
Intersections, Inc. (a)	494		4,634
Kelly Services, Inc. Class A (non-vtg.)	1,168		24,528
Kenexa Corp. (a)	709		14,279
Kforce, Inc. (a)	1,262		11,674
Kimball International, Inc. Class B	1,049		11,067
Layne Christensen Co. (a)	652		33,337
Learning Tree International, Inc. (a)	734		12,992
LECG Corp. (a)	1,261		12,736
McGrath RentCorp.	928		25,641
Mobile Mini, Inc. (a)	887		21,439
Monster Worldwide, Inc. (a)	3,386		83,600
Multi-Color Corp.	276		6,141
Odyssey Marine Exploration, Inc. (a)	1,256		6,167
On Assignment, Inc. (a)	544		4,537
PeopleSupport, Inc. (a)	786		7,271
PRG-Schultz International, Inc. (a)	1,283		13,099
Protection One, Inc. (a)(d)	653		5,557
Resources Connection, Inc.	1,251		26,284
School Specialty, Inc. (a)	550		17,265
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Commercial Services & Supplies - continued
Standard Parking Corp. (a)	693		$ 14,858
Stericycle, Inc. (a)	2,474		144,234
Team, Inc. (a)	735		23,549
Teletech Holdings, Inc. (a)	2,002		51,732
Tetra Tech, Inc. (a)	1,822		48,174
Thomas Group	808		2,077
United Stationers, Inc. (a)	719		30,442
Waste Services, Inc. (a)	1,366		10,996
WCA Waste Corp. (a)	1,630		8,981
			1,392,189
Construction & Engineering - 0.4%
Foster Wheeler Ltd. (a)	4,284		326,312
Great Lakes Dredge & Dock Corp.	1,273		7,702
Insituform Technologies, Inc. Class A (a)	822		15,158
Integrated Electrical Services, Inc. (a)	533		9,733
Northwest Pipe Co. (a)	354		16,634
Orion Marine Group, Inc. (a)	415		6,233
Sterling Construction Co., Inc. (a)	467		9,289
			391,061
Electrical Equipment - 1.3%
A-Power Energy Generation Systems, Ltd. (a)	1,021		23,422
Active Power, Inc. (a)	3,427		4,798
Advanced Battery Technologies, Inc. (a)	1,091		4,146
American Superconductor Corp. (a)	1,193		42,089
Canadian Solar, Inc. (a)(d)	1,312		52,100
Capstone Turbine Corp. (a)(d)	5,050		18,988
China BAK Battery, Inc. (a)(d)	1,331		5,497
China Sunergy Co. Ltd. ADR (d)	492		5,766
Coleman Cable, Inc. (a)	452		5,017
Deswell Industries, Inc.	624		4,674
Encore Wire Corp.	753		17,055
Energy Conversion Devices, Inc. (a)	1,267		80,429
Evergreen Solar, Inc. (a)(d)	3,805		39,572
First Solar, Inc. (a)	2,307		617,215
Franklin Electric Co., Inc.	686		27,783
FuelCell Energy, Inc. (a)	2,083		21,101
Fushi Copperweld, Inc. (a)	865		17,568
Harbin Electric, Inc. (a)	769		14,419
Hoku Scientific, Inc. (a)	284		2,187
Hydrogenics Corp. (a)	4,786		4,212
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Electrical Equipment - continued
II-VI, Inc. (a)	886		$ 34,651
JA Solar Holdings Co. Ltd. ADR (a)	2,973		63,236
LSI Industries, Inc.	523		5,565
Medis Technologies Ltd. (a)(d)	939		5,812
Microvision, Inc. (a)(d)	1,737		6,010
Ocean Power Technologies, Inc.	429		3,912
Orion Energy Systems, Inc. (d)	601		7,302
Plug Power, Inc. (a)	3,740		11,744
Powell Industries, Inc. (a)	458		24,489
Power-One, Inc. (a)	2,721		8,272
Preformed Line Products Co.	140		7,073
Solarfun Power Holdings Co. Ltd. ADR (a)	888		20,246
Sunpower Corp. Class A (a)	1,147		93,939
Superior Essex, Inc. (a)	626		27,231
Ultralife Batteries, Inc. (a)	657		8,298
Valence Technology, Inc. (a)(d)	5,340		21,627
Vicor Corp.	1,157		13,063
Woodward Governor Co.	1,984		79,896
			1,450,404
Industrial Conglomerates - 0.0%
Raven Industries, Inc.	593		22,386
Machinery - 1.4%
3D Systems Corp. (a)	743		6,806
Altra Holdings, Inc. (a)	871		15,173
American Railcar Industries, Inc.	550		11,512
Astec Industries, Inc. (a)	670		26,070
Axsys Technologies, Inc. (a)	387		22,895
Basin Water, Inc. (a)(d)	748		3,650
Bucyrus International, Inc. Class A	2,230		157,839
Chart Industries, Inc. (a)	942		39,460
China Fire & Security Group, Inc. (a)(d)	737		8,888
Columbus McKinnon Corp. (NY Shares) (a)	448		12,772
Commercial Vehicle Group, Inc. (a)	491		6,845
Dynamic Materials Corp.	326		14,142
Flanders Corp. (a)	941		6,738
Flow International Corp. (a)	1,723		17,506
Force Protection, Inc. (a)(d)	2,027		8,655
FreightCar America, Inc.	349		15,216
Gehl Co. (a)	282		4,512
Gencor Industries, Inc. (a)	263		3,777
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Machinery - continued
Hardinge, Inc.	286		$ 4,018
Hurco Companies, Inc. (a)	156		5,652
Joy Global, Inc.	3,137		264,230
K-Tron International, Inc. (a)	65		8,891
L.B. Foster Co. Class A (a)	433		14,822
Lincoln Electric Holdings, Inc.	1,126		92,872
Middleby Corp. (a)	551		31,457
NN, Inc.	777		10,109
Nordson Corp.	933		67,036
Omega Flex, Inc.	273		4,895
PACCAR, Inc.	10,752		574,049
Portec Rail Products, Inc.	633		7,691
RBC Bearings, Inc. (a)	735		27,695
Sun Hydraulics Corp.	511		20,496
Tecumseh Products Co.:
Class A (non-vtg.) (a)	601		20,981
Class B (a)	214		6,474
Titan Machinery, Inc.	615		14,945
TurboChef Technologies, Inc. (a)	1,036		6,972
Twin Disc, Inc.	248		4,712
			1,570,453
Marine - 0.3%
Alexander & Baldwin, Inc.	1,128		58,058
American Commercial Lines, Inc. (a)	1,385		21,246
Aries Maritime Transport Ltd.	732		4,246
DryShips, Inc.	1,196		112,185
Eagle Bulk Shipping, Inc.	1,326		44,209
Euroseas Ltd.	1,005		15,698
FreeSeas, Inc.	1,064		7,459
OceanFreight, Inc.	444		11,775
Paragon Shipping, Inc.	807		17,189
Star Bulk Carriers Corp.	1,203		16,818
TBS International Ltd. Class A (a)	473		22,032
Ultrapetrol (Bahamas) Ltd. (a)	857		13,052
			343,967
Road & Rail - 0.5%
AMERCO (a)	593		35,289
Arkansas Best Corp.	752		27,944
Celadon Group, Inc. (a)	516		5,882
Covenant Transport Group, Inc. Class A (a)	623		2,953
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Road & Rail - continued
Frozen Food Express Industries, Inc.	1,261		$ 9,962
Heartland Express, Inc.	2,822		43,459
J.B. Hunt Transport Services, Inc.	3,375		117,585
Landstar System, Inc.	1,530		85,252
Marten Transport Ltd. (a)	589		10,555
Old Dominion Freight Lines, Inc. (a)	1,183		35,703
P.A.M. Transportation Services, Inc. (a)	478		7,007
Patriot Transportation Holding, Inc. (a)	113		10,156
Quality Distribution, Inc. (a)	504		1,764
Saia, Inc. (a)	294		4,090
Universal Truckload Services, Inc. (a)	667		16,248
USA Truck, Inc. (a)	317		4,051
Vitran Corp., Inc. (a)	699		10,338
Werner Enterprises, Inc.	1,946		36,857
YRC Worldwide, Inc. (a)(d)	2,140		37,364
			502,459
Trading Companies & Distributors - 0.3%
Aceto Corp.	722		5,682
Beacon Roofing Supply, Inc. (a)	1,124		13,724
Electro Rent Corp.	792		11,183
Fastenal Co.	4,328		213,976
H&E Equipment Services, Inc. (a)	950		13,348
Houston Wire & Cable Co.	580		12,516
Industrial Distribution Group, Inc. (a)	64		773
Kaman Corp.	616		15,954
Lawson Products, Inc.	440		11,436
Mitsui & Co. Ltd. sponsored ADR	11		5,371
Rush Enterprises, Inc.:
Class A (a)	109		1,764
Class B (a)	1,370		20,605
			326,332
Transportation Infrastructure - 0.0%
Grupo Aeroportuario Norte Sab de CV ADR	578		11,583
Quixote Corp.	363		3,703
			15,286
TOTAL INDUSTRIALS			7,507,514
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - 52.4%
Communications Equipment - 10.5%
3Com Corp. (a)	11,153		$ 28,106
Acme Packet, Inc. (a)	1,626		14,650
ADC Telecommunications, Inc. (a)	3,242		51,029
Adtran, Inc.	2,009		50,004
Airspan Networks, Inc. (a)	1,131		1,004
Airvana, Inc.	1,649		9,416
Alvarion Ltd. (a)	1,316		9,423
Anaren, Inc. (a)	873		11,358
Arris Group, Inc. (a)	4,397		41,156
Aruba Networks, Inc. (a)	2,147		13,483
AudioCodes Ltd. (a)	1,448		5,647
Avanex Corp. (a)	6,923		8,169
Avocent Corp. (a)	1,377		27,168
Aware, Inc. (a)	876		3,171
Bel Fuse, Inc. Class B (non-vtg.)	274		7,176
BigBand Networks, Inc. (a)	1,573		8,337
Black Box Corp.	572		16,416
Blue Coat Systems, Inc. (a)	1,191		21,581
Bookham, Inc. (a)	3,046		6,183
Ceragon Networks Ltd. (a)	981		9,996
China Techfaith Wireless Communication Technology Ltd. sponsored ADR (a)	879		4,175
Ciena Corp. (a)	2,707		82,726
Cisco Systems, Inc. (a)	174,815		4,671,057
Cogo Group, Inc. (a)	1,142		16,011
Comtech Telecommunications Corp. (a)	643		29,771
Digi International, Inc. (a)	1,208		10,896
Ditech Networks, Inc. (a)	1,213		2,887
EchoStar Holding Corp. Class A (a)	1,349		50,372
EMS Technologies, Inc. (a)	694		19,002
Endwave Corp. (a)	646		4,419
EXFO Electro-Optical Engineering, Inc. (sub. vtg.) (a)	2,469		13,743
Extreme Networks, Inc. (a)	3,968		12,896
F5 Networks, Inc. (a)	2,396		72,000
Finisar Corp. (a)	8,379		15,417
Foundry Networks, Inc. (a)	3,964		53,910
Globecomm Systems, Inc. (a)	538		5,224
Harmonic, Inc. (a)	3,267		31,429
Harris Stratex Networks, Inc. Class A (a)	857		9,633
Hughes Communications, Inc. (a)	583		27,045
Infinera Corp.	2,864		40,898
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Communications Equipment - continued
InterDigital, Inc. (a)	1,509		$ 37,710
Ituran Location & Control Ltd.	1,098		14,603
Ixia (a)	2,688		21,746
JDS Uniphase Corp. (a)	7,176		88,767
Juniper Networks, Inc. (a)	15,438		424,854
KVH Industries, Inc. (a)	384		3,379
Loral Space & Communications Ltd. (a)	550		10,665
MRV Communications, Inc. (a)	4,275		7,610
NETGEAR, Inc. (a)	928		17,623
Network Engines, Inc. (a)	1,350		1,715
Neutral Tandem, Inc.	851		16,467
Nextwave Wireless, Inc. (a)(d)	4,494		24,133
Nice Systems Ltd. sponsored ADR (a)	1,169		40,915
NMS Communications Corp. (a)	1,492		1,731
Occam Networks, Inc. (a)	1,016		4,338
Oplink Communications, Inc. (a)	844		9,352
Opnext, Inc. (a)	1,748		10,138
Optium Corp. (a)	677		7,447
ORBCOMM, Inc. (a)	1,103		6,828
Orckit Communications Ltd. (a)	558		3,939
Packeteer, Inc. (a)	1,114		7,909
Parkervision, Inc. (a)(d)	806		8,995
PC-Tel, Inc.	832		8,228
Pegasus Wireless Corp. warrants 8/11/08 (a)	222		0
Polycom, Inc. (a)	2,363		58,886
Powerwave Technologies, Inc. (a)	3,869		15,592
Qiao Xing Universal Telephone, Inc. (a)(d)	623		3,825
QUALCOMM, Inc.	47,148		2,288,564
RADWARE Ltd. (a)	690		6,748
Radyne Corp. (a)	798		8,946
Research In Motion Ltd. (a)	16,424		2,280,801
Riverbed Technology, Inc. (a)	2,506		44,983
SCM Microsystems, Inc. (a)	1,145		3,401
SeaChange International, Inc. (a)	983		7,726
ShoreTel, Inc.	1,998		10,789
Sierra Wireless, Inc. (a)	741		12,693
Silicom Ltd. (a)	253		2,242
Soapstone Networks, Inc.	885		4,717
Sonus Networks, Inc. (a)	7,797		33,449
Starent Networks Corp.	2,237		39,170
Sycamore Networks, Inc. (a)	8,645		29,307
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Communications Equipment - continued
Symmetricom, Inc. (a)	1,808		$ 7,612
Tekelec (a)	1,948		32,707
Telefonaktiebolaget LM Ericsson (B Shares) sponsored ADR	3,994		107,998
Tellabs, Inc. (a)	12,284		66,825
Telular Corp. (a)	666		2,418
Tollgrade Communications, Inc. (a)	515		2,740
UTStarcom, Inc. (a)(d)	3,083		14,798
ViaSat, Inc. (a)	866		18,654
Westell Technologies, Inc. Class A (a)	1,660		2,357
Zhone Technologies, Inc. (a)	1,362		1,308
			11,405,332
Computers & Peripherals - 7.0%
ActivIdentity Corp. (a)	1,616		4,589
Adaptec, Inc. (a)	5,476		17,687
Apple, Inc. (a)	25,790		4,867,863
Avid Technology, Inc. (a)	1,159		24,872
Brocade Communications Systems, Inc. (a)	10,342		83,357
Concurrent Computer Corp. (a)	2,554		1,762
Cray, Inc. (a)	930		5,794
Data Domain, Inc. (d)	1,705		40,920
Dell, Inc. (a)	59,962		1,382,724
Dot Hill Systems Corp. (a)	2,532		7,596
Electronics for Imaging, Inc. (a)	1,921		31,831
Hutchinson Technology, Inc. (a)	789		11,362
iGO, Inc. (a)	1,004		1,305
Immersion Corp. (a)	974		8,347
InFocus Corp. (a)	1,910		3,266
Intevac, Inc. (a)	524		6,026
Isilon Systems, Inc. (a)(d)	1,886		9,241
LaserCard Corp. (a)	319		2,335
Logitech International SA (a)	5,260		173,212
NetApp, Inc. (a)	10,239		249,627
Novatel Wireless, Inc. (a)	1,050		10,826
Palm, Inc. (d)	3,391		20,549
Presstek, Inc. (a)	617		3,850
QLogic Corp. (a)	4,168		65,813
Rackable Systems, Inc. (a)	765		10,450
Rimage Corp. (a)	623		11,015
SanDisk Corp. (a)	6,776		191,829
Silicon Graphics, Inc. (a)	544		4,200
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Computers & Peripherals - continued
STEC, Inc. (a)	1,907		$ 24,314
Stratasys, Inc. (a)	810		17,634
Sun Microsystems, Inc. (a)	22,888		296,400
Super Micro Computer, Inc. (a)	917		6,584
Synaptics, Inc. (a)	884		37,809
Transact Technologies, Inc. (a)	437		3,710
Xyratex Ltd. (a)	873		17,416
			7,656,115
Electronic Equipment & Instruments - 1.5%
Acacia Research Corp. - Acacia Technologies (a)	754		4,094
Agilysys, Inc.	1,280		13,363
Brightpoint, Inc. (a)	2,312		22,773
CalAmp Corp. (a)	797		2,000
Cherokee International Corp. (a)	532		1,543
Cogent, Inc. (a)	3,094		37,035
Cognex Corp.	1,323		36,859
Coherent, Inc. (a)	916		27,727
Comverge, Inc. (d)	565		7,226
CPI International, Inc. (a)	658		8,021
CyberOptics Corp. (a)	340		3,046
Daktronics, Inc.	1,310		26,449
DTS, Inc. (a)	635		21,273
Echelon Corp. (a)(d)	896		13,225
Electro Scientific Industries, Inc. (a)	983		15,531
Entorian Technologies, Inc. (a)	1,471		1,545
Excel Technology, Inc. (a)	462		12,021
FARO Technologies, Inc. (a)	506		14,507
Flextronics International Ltd. (a)	24,562		263,059
FLIR Systems, Inc. (a)	4,011		158,114
GSI Group, Inc. (a)	1,497		12,081
I. D. Systems Inc. (a)	449		3,305
Insight Enterprises, Inc. (a)	1,589		21,293
IPG Photonics Corp. (a)	1,158		23,264
Itron, Inc. (a)	907		88,505
Littelfuse, Inc. (a)	600		22,674
LoJack Corp. (a)	775		7,169
Magal Security Systems Ltd. (a)	1,124		7,340
Maxwell Technologies, Inc. (a)	636		8,681
Measurement Specialties, Inc. (a)	393		7,656
Mellanox Technologies Ltd. (a)	807		13,186
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Electronic Equipment & Instruments - continued
Mercury Computer Systems, Inc. (a)	710		$ 6,298
Merix Corp. (a)	641		1,603
Molex, Inc.	2,734		76,115
Molex, Inc. Class A (non-vtg.)	2,277		60,227
MTS Systems Corp.	580		21,947
Multi-Fineline Electronix, Inc. (a)	829		16,621
National Instruments Corp.	2,266		71,968
NetList, Inc. (a)	705		1,086
Newport Corp. (a)	919		12,296
NU Horizons Electronics Corp. (a)	1,201		6,906
Optimal Group, Inc. Class A (a)	1,049		3,042
Orbotech Ltd. (a)	1,038		17,781
OSI Systems, Inc. (a)	522		13,160
PC Connection, Inc. (a)	511		5,565
Photon Dynamics, Inc. (a)	1,276		16,231
Planar Systems, Inc. (a)	471		1,564
Plexus Corp. (a)	1,279		36,106
RadiSys Corp. (a)	700		7,021
Richardson Electronics Ltd.	885		5,000
Rofin-Sinar Technologies, Inc. (a)	833		29,480
Sanmina-SCI Corp. (a)	15,736		23,604
ScanSource, Inc. (a)	896		26,844
SMART Modular Technologies (WWH), Inc. (a)	1,562		8,404
Spectrum Control, Inc. (a)	285		2,596
Tech Data Corp. (a)	1,489		54,483
Trimble Navigation Ltd. (a)	3,602		143,504
TTM Technologies, Inc. (a)	1,304		18,986
Universal Display Corp. (a)	1,552		23,606
X-Rite, Inc. (a)	876		1,542
Zygo Corp. (a)	743		8,894
			1,627,045
Internet Software & Services - 7.8%
Akamai Technologies, Inc. (a)	4,970		194,079
Ariba, Inc. (a)	2,979		44,208
Art Technology Group, Inc. (a)	3,717		13,939
AsiaInfo Holdings, Inc. (a)	1,256		17,270
Autobytel, Inc. (a)	1,298		2,168
Baidu.com, Inc. sponsored ADR (a)	759		261,901
Bankrate, Inc. (a)	500		25,250
Bidz.com, Inc. (a)(d)	722		8,296
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Internet Software & Services - continued
China Finance Online Co. Ltd. ADR (a)	455		$ 11,179
Chordiant Software, Inc. (a)	1,059		6,799
CMGI, Inc. (a)	1,705		25,541
CNET Networks, Inc. (a)(d)	4,421		50,620
comScore, Inc.	807		19,772
Constant Contact, Inc. (d)	1,189		22,829
Copernic, Inc. (a)	1,076		667
CryptoLogic Ltd.	348		5,850
DealerTrack Holdings, Inc. (a)	1,093		22,997
Digital River, Inc. (a)	1,125		45,068
DivX, Inc. (a)	929		9,095
EarthLink, Inc. (a)	4,377		42,019
eBay, Inc. (a)	39,085		1,172,941
Entrust, Inc. (a)	484		1,355
Equinix, Inc. (a)	1,131		107,999
GigaMedia Ltd. (a)	1,576		27,801
Gmarket, Inc. sponsored ADR (a)	647		16,136
Google, Inc. Class A (sub. vtg.) (a)	6,952		4,072,482
Greenfield Online, Inc. (a)	819		10,434
HSW International, Inc. (a)	1,299		4,793
Hurray! Holding Co. Ltd. ADR (a)	1,243		3,692
InfoSpace, Inc.	1,040		9,495
Internap Network Services Corp. (a)	1,310		6,904
Internet Brands, Inc. Class A	1,059		7,508
Internet Capital Group, Inc. (a)	1,070		10,764
Internet Gold Golden Lines Ltd. (a)	963		9,717
Internet Initiative Japan, Inc. sponsored ADR	514		4,626
Interwoven, Inc. (a)	1,094		14,671
iPass, Inc. (a)	1,789		3,846
j2 Global Communications, Inc. (a)	1,499		39,753
Jupitermedia Corp. (a)	1,254		2,332
Keynote Systems, Inc. (a)	504		6,804
Kintera, Inc. (a)	1,208		1,305
Limelight Networks, Inc.	2,250		7,583
Liquidity Services, Inc. (a)	896		9,946
LivePerson, Inc. (a)	1,693		5,451
LoopNet, Inc. (a)	972		12,762
Marchex, Inc. Class B	1,337		17,675
Mercadolibre, Inc.	1,281		60,143
MIVA, Inc. (a)	1,929		3,279
Move, Inc. (a)	4,569		13,753
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Internet Software & Services - continued
NaviSite, Inc. (a)	258		$ 978
NetEase.com, Inc. sponsored ADR (a)	1,936		44,044
NIC, Inc.	1,814		14,802
Omniture, Inc. (a)	2,027		49,966
Open Text Corp. (a)(d)	1,496		53,455
Openwave Systems, Inc.	2,632		5,211
Perficient, Inc. (a)	1,114		11,820
RADVision Ltd. (a)	505		3,570
RealNetworks, Inc. (a)	4,092		29,872
S1 Corp. (a)	1,979		12,943
Saba Software, Inc. (a)	1,197		4,573
SAVVIS, Inc. (a)	1,307		21,801
Selectica, Inc. (a)	2,337		3,295
Sify Technologies Ltd. sponsored ADR (a)	1,072		5,231
Sina Corp. (a)	1,640		87,363
SkillSoft PLC sponsored ADR (a)	3,236		31,454
Sohu.com, Inc. (a)	1,104		96,622
SonicWALL, Inc. (a)	1,927		15,416
Supportsoft, Inc. (a)	2,027		7,561
Switch & Data Facilities Co., Inc. (a)	962		17,172
TechTarget, Inc.	1,096		13,305
Terremark Worldwide, Inc. (a)	1,561		9,834
The Knot, Inc. (a)	976		11,331
TheStreet.com, Inc.	800		6,176
Travelzoo, Inc. (a)	560		5,981
Tumbleweed Communications Corp. (a)	1,558		2,882
United Online, Inc.	1,862		22,772
ValueClick, Inc. (a)	2,784		55,986
VeriSign, Inc. (a)	5,866		234,875
Vignette Corp. (a)	908		11,759
VistaPrint Ltd. (a)	1,459		45,696
Vocus, Inc. (a)	477		15,154
WebMD Health Corp. Class A (a)	259		7,778
Websense, Inc. (a)	1,205		21,196
Website Pros, Inc. (a)	971		7,972
Workstream, Inc. (a)	2,139		923
Yahoo!, Inc. (a)	39,310		1,051,936
Zix Corp. (a)(d)	3,051		7,872
			8,546,074
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
IT Services - 1.4%
Acxiom Corp.	1,995		$ 29,267
Applied Digital Solutions, Inc. (a)	1,548		1,316
Cass Information Systems, Inc.	438		13,915
Cognizant Technology Solutions Corp. Class A (a)	8,565		302,173
CSG Systems International, Inc. (a)	1,335		17,729
CyberSource Corp. (a)	2,340		45,419
Edgewater Technology, Inc. (a)	636		3,269
eTelecare Global Solutions, Inc. sponsored ADR (a)	209		1,578
Euronet Worldwide, Inc. (a)	1,180		23,081
ExlService Holdings, Inc. (a)	920		18,345
Fiserv, Inc. (a)	4,720		247,139
Forrester Research, Inc. (a)	873		26,373
Gevity HR, Inc.	657		4,908
Hackett Group, Inc. (a)	1,244		6,568
iGate Corp. (a)	1,521		13,005
Information Services Group, Inc. (a)	927		4,514
Infosys Technologies Ltd. sponsored ADR	3,176		155,973
infoUSA, Inc.	1,991		11,170
Integral Systems, Inc.	249		9,858
Lionbridge Technologies, Inc. (a)	1,584		3,849
ManTech International Corp. Class A (a)	663		33,435
Ness Technologies, Inc. (a)	885		10,018
Online Resources Corp. (a)	711		6,897
Paychex, Inc.	10,503		362,879
PFSweb, Inc. (a)	501		471
Rainmaker Systems, Inc. (a)	1,766		6,976
RightNow Technologies, Inc. (a)	1,063		15,796
Sapient Corp. (a)	4,520		29,832
SI International, Inc. (a)	226		5,537
SM&A (a)	820		4,084
Sykes Enterprises, Inc. (a)	1,059		21,932
Syntel, Inc.	1,203		39,338
Telvent GIT SA	832		21,882
Virtusa Corp.	1,320		13,332
Yucheng Technologies Ltd. (a)	364		4,816
Zanett, Inc. (a)	2,729		1,146
			1,517,820
Office Electronics - 0.1%
Zebra Technologies Corp. Class A (a)	1,814		68,206
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Semiconductors & Semiconductor Equipment - 8.7%
Actel Corp. (a)	741		$ 12,708
Advanced Analogic Technologies, Inc. (a)	1,239		8,648
Advanced Energy Industries, Inc. (a)	1,104		17,487
Altera Corp.	8,851		204,812
Amkor Technology, Inc. (a)	5,655		60,282
ANADIGICS, Inc. (a)	2,216		27,390
Applied Materials, Inc.	39,369		779,900
Applied Micro Circuits Corp. (a)	2,354		23,093
ARM Holdings PLC sponsored ADR	1,519		9,479
ASM International NV (NASDAQ)	248		6,361
ASML Holding NV (NY Shares)	2,716		81,371
Asyst Technologies, Inc. (a)	1,342		4,764
Atheros Communications, Inc. (a)	1,763		58,919
Atmel Corp. (a)	14,274		63,805
ATMI, Inc. (a)	972		29,092
AuthenTec, Inc.	767		10,454
Axcelis Technologies, Inc. (a)	3,380		19,300
AXT, Inc. (a)	1,962		9,064
Broadcom Corp. Class A (a)	13,923		399,451
Brooks Automation, Inc. (a)	2,234		22,764
Cabot Microelectronics Corp. (a)	730		27,083
California Micro Devices Corp. (a)	1,081		3,859
Camtek Ltd. (a)	1,092		1,496
Cavium Networks, Inc.	1,131		29,474
Centillium Communications, Inc. (a)	1,295		1,036
Ceva, Inc. (a)	1,468		12,287
ChipMOS TECHNOLOGIES (Bermuda) Ltd. (a)	2,449		7,763
Cirrus Logic, Inc. (a)	3,040		19,942
Cohu, Inc.	658		11,258
Conexant Systems, Inc. (a)	13,639		6,274
Credence Systems Corp. (a)	3,070		3,316
Cree, Inc. (a)(d)	2,505		63,677
Cymer, Inc. (a)	892		27,581
Diodes, Inc. (a)	1,202		33,932
DSP Group, Inc. (a)	952		7,940
Eagle Test Systems, Inc. (a)	426		4,912
EMCORE Corp. (a)	2,021		15,885
Entegris, Inc. (a)	3,862		29,699
Entropic Communications, Inc.	1,798		9,314
Exar Corp. (a)	1,287		10,116
FEI Co. (a)	1,071		25,104
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Semiconductors & Semiconductor Equipment - continued
FormFactor, Inc. (a)	1,367		$ 29,842
Himax Technologies, Inc. sponsored ADR	2,595		14,273
Hittite Microwave Corp. (a)	844		33,718
Ikanos Communications, Inc. (a)	1,365		4,859
Integrated Device Technology, Inc. (a)	5,269		59,434
Integrated Silicon Solution, Inc. (a)	734		4,477
Intel Corp.	169,662		3,932,765
Intersil Corp. Class A	3,646		101,614
IXYS Corp. (a)	1,212		14,132
KLA-Tencor Corp.	5,039		232,399
Kopin Corp. (a)	2,447		7,414
Kulicke & Soffa Industries, Inc. (a)	1,001		7,087
Lam Research Corp. (a)	3,601		146,561
Lanoptics Ltd. (a)	748		12,305
Lattice Semiconductor Corp. (a)	3,621		12,891
Leadis Technology, Inc. (a)	771		1,288
Linear Technology Corp.	6,326		232,607
LTX Corp. (a)	1,725		5,072
Marvell Technology Group Ltd. (a)	17,530		304,321
Mattson Technology, Inc. (a)	1,615		8,107
Micrel, Inc.	2,348		22,541
Microchip Technology, Inc.	5,343		196,836
Microsemi Corp. (a)	2,299		62,993
Microtune, Inc. (a)	2,322		9,706
Mindspeed Technologies, Inc. (a)	2,837		2,326
MIPS Technologies, Inc. (a)	1,464		5,592
MKS Instruments, Inc. (a)	1,441		33,950
Monolithic Power Systems, Inc. (a)	1,028		24,908
MoSys, Inc. (a)	1,126		5,630
Nanometrics, Inc. (a)	733		5,783
Netlogic Microsystems, Inc. (a)	579		21,863
Novellus Systems, Inc. (a)	3,179		75,946
NVE Corp. (a)	149		5,354
NVIDIA Corp. (a)	16,354		403,944
O2Micro International Ltd. sponsored ADR (a)	1,212		10,860
Omnivision Technologies, Inc. (a)	1,565		25,353
ON Semiconductor Corp. (a)	12,039		119,066
PDF Solutions, Inc. (a)	999		5,634
Pericom Semiconductor Corp. (a)	1,018		19,077
Photronics, Inc. (a)	1,047		9,402
Pixelworks, Inc. (a)	1,375		1,004
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Semiconductors & Semiconductor Equipment - continued
PLX Technology, Inc. (a)	562		$ 4,698
PMC-Sierra, Inc. (a)	6,991		59,493
Power Integrations, Inc. (a)	970		31,651
Rambus, Inc. (a)	2,935		60,637
Ramtron International Corp. (a)	2,236		10,040
RF Micro Devices, Inc. (a)	10,158		40,632
Rubicon Technology, Inc.	560		12,807
Rudolph Technologies, Inc. (a)	810		8,149
Semitool, Inc. (a)	1,284		10,773
Semtech Corp. (a)	1,930		33,814
Sigma Designs, Inc. (a)	854		15,799
Silicon Image, Inc. (a)	2,410		16,942
Silicon Laboratories, Inc. (a)	1,661		61,208
Silicon Motion Technology Corp. sponsored ADR (a)	905		17,485
Silicon Storage Technology, Inc. (a)	3,104		10,088
Siliconware Precision Industries Co. Ltd. sponsored ADR	2,965		25,173
SiRF Technology Holdings, Inc. (a)	1,398		10,163
Skyworks Solutions, Inc. (a)	4,311		44,533
Spansion, Inc. Class A (a)	4,432		13,961
Standard Microsystems Corp. (a)	695		22,657
Supertex, Inc. (a)	517		13,080
Techwell, Inc. (a)	678		8,963
Tessera Technologies, Inc. (a)	1,358		28,613
Tower Semicondutor Ltd. (a)	3,194		3,130
Transwitch Corp. (a)	3,990		3,352
Trident Microsystems, Inc. (a)	1,638		7,682
TriQuint Semiconductor, Inc. (a)	5,426		36,137
Ultra Clean Holdings, Inc. (a)	785		8,188
Ultratech, Inc. (a)	1,082		17,323
Varian Semiconductor Equipment Associates, Inc. (a)	2,224		84,579
Veeco Instruments, Inc. (a)	983		18,903
Verigy Ltd. (a)	1,859		47,479
Vimicro International Corp. sponsored ADR (a)	420		1,348
Virage Logic Corp. (a)	962		6,368
Volterra Semiconductor Corp. (a)	951		15,121
White Electronic Designs Corp. (a)	917		4,246
Xilinx, Inc.	8,137		221,326
Zilog, Inc. (a)	1,879		7,403
Zoran Corp. (a)	1,378		20,160
			9,498,130
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Software - 15.4%
Access Integrated Technologies, Inc. Class A (a)	818		$ 1,759
ACI Worldwide, Inc.	867		15,094
Activision, Inc. (a)	8,582		289,643
Actuate Corp. (a)	2,834		14,057
Adobe Systems, Inc. (a)	16,118		710,159
Advent Software, Inc. (a)	755		32,442
Aladdin Knowledge Systems Ltd. (a)	391		6,510
Allot Communications Ltd. (a)	703		2,179
American Software, Inc. Class A	614		4,016
Ansoft Corp. (a)	743		27,105
Ansys, Inc. (a)	2,340		110,682
ArcSight, Inc.	613		5,284
Authentidate Holding Corp. (a)	1,789		912
Autodesk, Inc. (a)	6,798		279,806
Blackbaud, Inc.	1,202		28,439
Blackboard, Inc. (a)	855		32,387
BluePhoenix Solutions Ltd. (a)	934		10,041
Borland Software Corp. (a)	2,597		3,662
Bottomline Technologies, Inc. (a)	787		7,831
CA, Inc.	15,070		399,958
Cadence Design Systems, Inc. (a)	7,664		89,056
Callidus Software, Inc. (a)	1,967		11,959
CAM Commerce Solutions, Inc.	129		4,674
Captaris, Inc. (a)	776		3,383
Catapult Communications Corp. (a)	732		5,395
CDC Corp. Class A (a)	3,138		10,606
Check Point Software Technologies Ltd. (a)	6,260		155,436
Citrix Systems, Inc. (a)	5,284		180,871
CommVault Systems, Inc. (a)	1,193		20,889
Compuware Corp. (a)	8,332		84,903
Concur Technologies, Inc. (a)	1,267		46,461
Convera Corp. Class A (a)	2,013		2,798
Corel Corp. (a)	613		6,688
Deltek, Inc.	1,203		12,078
DemandTec, Inc.	842		7,393
Descartes Systems Group, Inc. (a)	2,203		8,559
Digimarc Corp. (a)	1,506		16,732
Double-Take Software, Inc. (a)	612		7,980
ebix.com, Inc. (a)	102		9,219
ECtel Ltd. (a)	64		127
Electronic Arts, Inc. (a)	9,293		466,509
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Software - continued
Epicor Software Corp. (a)	1,901		$ 16,311
EPIQ Systems, Inc. (a)	1,414		23,317
Evolving Systems, Inc. (a)	718		1,673
FalconStor Software, Inc. (a)	1,874		16,754
Fundtech Ltd. (a)	972		12,199
Glu Mobile, Inc. (a)	1,786		8,805
Guidance Software, Inc. (a)	612		6,114
i2 Technologies, Inc. (a)	647		7,764
Informatica Corp. (a)	2,745		49,410
Interactive Intelligence, Inc. (a)	787		10,255
Intervoice, Inc. (a)	1,245		8,043
Intuit, Inc. (a)	9,562		276,916
Iona Technologies PLC sponsored ADR (a)	1,468		5,314
Jack Henry & Associates, Inc.	2,616		62,261
JDA Software Group, Inc. (a)	983		20,053
KongZhong Corp. sponsored ADR (a)	1,047		4,764
Lawson Software, Inc. (a)	5,592		48,762
Macrovision Solutions Corp. (a)	2,613		35,354
Magic Software Enterprises Ltd. (a)	2,027		3,689
Magma Design Automation, Inc. (a)	1,048		7,912
Majesco Entertainment Co. (a)	4,036		5,328
Manhattan Associates, Inc. (a)	917		23,292
Mentor Graphics Corp. (a)	2,263		26,364
MICROS Systems, Inc. (a)	2,253		74,281
Microsoft Corp.	272,928		7,729,297
MicroStrategy, Inc. Class A (a)	275		21,893
Moldflow Corp. (a)	599		13,178
Monotype Imaging Holdings, Inc.	1,157		15,862
MSC.Software Corp. (a)	1,536		19,000
Napster, Inc. (a)	2,324		3,602
NDS Group PLC sponsored ADR (a)	442		23,103
Net 1 UEPS Technologies, Inc. (a)	1,465		40,961
NetScout Systems, Inc. (a)	1,391		17,680
Novell, Inc. (a)	10,269		72,705
Nuance Communications, Inc. (a)	6,365		125,518
OpenTV Corp. Class A (a)	3,358		4,936
Opnet Technologies, Inc. (a)	775		7,324
Oracle Corp. (a)	150,534		3,438,197
Parametric Technology Corp. (a)	3,265		61,317
Pegasystems, Inc.	878		10,817
Perfect World Co. Ltd. sponsored ADR Class B	695		18,744
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Software - continued
Pervasive Software, Inc. (a)	1,197		$ 5,590
Phoenix Technologies Ltd. (a)	1,339		14,327
Plato Learning, Inc. (a)	1,135		2,985
Progress Software Corp. (a)	1,256		39,112
QAD, Inc.	1,212		9,284
Quality Systems, Inc.	928		30,559
Quest Software, Inc. (a)	3,341		56,830
Radiant Systems, Inc. (a)	972		13,180
Renaissance Learning, Inc.	1,396		20,870
Retalix Ltd. (a)	590		8,962
Salary.com, Inc. (a)	708		3,186
Secure Computing Corp. (a)	2,111		11,252
Shanda Interactive Entertainment Ltd. sponsored ADR (a)	1,186		38,509
Smith Micro Software, Inc. (a)	981		8,280
Sonic Foundry, Inc. (a)	2,434		1,655
Sonic Solutions, Inc. (a)	710		6,816
Sourcefire, Inc. (a)	679		5,188
SourceForge, Inc. (a)	2,381		3,714
SPSS, Inc. (a)	599		23,583
SuccessFactors, Inc.	1,502		16,672
SumTotal Systems, Inc. (a)	1,246		5,794
Symantec Corp. (a)	24,757		537,970
Symyx Technologies, Inc. (a)	1,015		7,795
Synchronoss Technologies, Inc. (a)	938		12,466
Synopsys, Inc. (a)	4,063		107,060
Take-Two Interactive Software, Inc. (a)	2,113		57,199
Taleo Corp. Class A (a)	732		14,486
The9 Ltd. sponsored ADR (a)	590		15,275
THQ, Inc. (a)	1,695		36,358
TIBCO Software, Inc. (a)	5,916		45,672
TiVo, Inc. (a)	3,031		25,491
Ultimate Software Group, Inc. (a)	897		33,934
Unica Corp. (a)	721		6,056
Vasco Data Security International, Inc. (a)	1,115		14,450
Veraz Networks, Inc.	1,072		2,058
Versant Corp. (a)	227		7,589
Wind River Systems, Inc. (a)	2,497		27,018
			16,789,976
TOTAL INFORMATION TECHNOLOGY			57,108,698
Common Stocks - continued
	Shares		Value
MATERIALS - 1.4%
Chemicals - 0.5%
A. Schulman, Inc.	1,081		$ 24,420
Altair Nanotechnologies, Inc. (a)(d)	2,064		4,933
American Pacific Corp. (a)	381		6,458
Balchem Corp.	425		10,506
GenTek, Inc. (a)	462		13,541
Hawkins, Inc.	416		6,302
ICO, Inc. (a)	1,113		7,836
Innophos Holdings, Inc.	789		21,989
Innospec, Inc.	748		18,416
KMG Chemicals, Inc.	368		4,037
Landec Corp. (a)	799		6,400
Methanex Corp.	2,483		70,179
Penford Corp.	357		7,779
ShengdaTech, Inc. (a)(d)	1,481		12,218
Sigma Aldrich Corp.	3,805		223,582
Zoltek Companies, Inc. (a)(d)	952		28,779
			467,375
Construction Materials - 0.0%
U.S. Concrete, Inc. (a)	1,028		5,397
United States Lime & Minerals, Inc. (a)	253		9,424
			14,821
Containers & Packaging - 0.1%
AEP Industries, Inc. (a)	304		7,965
Caraustar Industries, Inc. (a)	1,361		3,130
Silgan Holdings, Inc.	1,148		65,700
Smurfit-Stone Container Corp. (a)	7,504		50,502
			127,297
Metals & Mining - 0.8%
Anglo American PLC ADR	3,574		122,517
Century Aluminum Co. (a)	1,218		88,914
China Natural Resources, Inc. (a)(d)	261		5,893
China Precision Steel, Inc. (a)(d)	2,036		11,402
DRDGOLD Ltd. sponsored ADR (a)	1,528		12,255
Esmark, Inc. (a)	1,107		20,922
Haynes International, Inc. (a)	314		21,456
Horsehead Holding Corp.	930		13,067
Kaiser Aluminum Corp.	599		38,426
Lihir Gold Ltd. sponsored ADR	583		16,785
Olympic Steel, Inc.	343		22,288
Pan American Silver Corp. (a)	2,350		77,903
Common Stocks - continued
	Shares		Value
MATERIALS - continued
Metals & Mining - continued
Randgold Resources Ltd. sponsored ADR	1,673		$ 70,935
Royal Gold, Inc.	1,071		32,923
Schnitzer Steel Industries, Inc. Class A	633		63,389
Silver Standard Resources, Inc. (a)	1,690		50,920
Steel Dynamics, Inc.	5,526		199,489
Universal Stainless & Alloy Products, Inc. (a)	140		5,524
			875,008
Paper & Forest Products - 0.0%
Mercer International, Inc. (SBI) (a)	1,841		14,765
TOTAL MATERIALS			1,499,266
TELECOMMUNICATION SERVICES - 1.4%
Diversified Telecommunication Services - 0.5%
012 Smile.Communications Ltd.	405		4,560
8X8, Inc. (a)(d)	4,450		5,162
Alaska Communication Systems Group, Inc.	1,223		15,826
Arbinet-thexchange, Inc.	688		2,614
Atlantic Tele-Network, Inc.	415		12,433
Cbeyond, Inc. (a)(d)	818		15,174
Cogent Communications Group, Inc. (a)	1,299		21,369
Consolidated Communications Holdings, Inc.	768		11,520
D&E Communications, Inc.	909		8,754
General Communications, Inc. Class A (a)	1,676		12,335
Gilat Satellite Networks Ltd. (a)	941		10,342
Global Crossing Ltd. (a)	1,499		27,162
Globalstar, Inc. (a)(d)	2,125		6,205
HickoryTech Corp.	409		3,464
iBasis, Inc.	1,715		5,745
Level 3 Communications, Inc. (a)	45,099		154,690
NTELOS Holdings Corp.	1,334		37,245
PAETEC Holding Corp. (a)	4,105		36,288
Shenandoah Telecommunications Co.	1,063		17,412
SureWest Communications	517		5,077
Telefonos de Mexico SA de CV Series A sponsored ADR	122		5,026
Time Warner Telecom, Inc. Class A (sub. vtg.) (a)	4,618		86,357
Warwick Valley Telephone Co.	428		5,059
			509,819
Wireless Telecommunication Services - 0.9%
America Movil SAB de CV Series A sponsored ADR	228		13,555
Common Stocks - continued
	Shares		Value
TELECOMMUNICATION SERVICES - continued
Wireless Telecommunication Services - continued
Centennial Communications Corp. Class A (a)	2,964		$ 22,437
Clearwire Corp. (a)(d)	4,545		64,403
FiberTower Corp. (a)	4,690		7,176
ICO Global Communications Holdings Ltd. Class A (a)	3,970		17,865
IPCS, Inc.	423		12,690
Kratos Defense & Security Solutions, Inc. (a)	2,381		4,643
Leap Wireless International, Inc. (a)	2,101		120,723
Millicom International Cellular SA	3,172		367,508
NII Holdings, Inc. (a)	4,912		246,582
Partner Communications Co. Ltd. ADR	457		11,082
Rural Cellular Corp. Class A (a)	453		20,276
SBA Communications Corp. Class A (a)	3,092		115,084
Terrestar Corp. (a)	2,409		11,684
USA Mobility, Inc.	1,006		7,897
			1,043,605
TOTAL TELECOMMUNICATION SERVICES			1,553,424
UTILITIES - 0.1%
Electric Utilities - 0.1%
Enernoc, Inc.	655		9,727
MGE Energy, Inc.	670		23,015
Otter Tail Corp.	897		33,673
			66,415
Gas Utilities - 0.0%
EnergySouth, Inc.	353		19,133
Water Utilities - 0.0%
Artesian Resources Corp. Class A	492		9,033
Cadiz, Inc. (a)	408		6,850
Connecticut Water Service, Inc.	337		8,176
Consolidated Water Co., Inc.	526		10,410
Middlesex Water Co.	383		7,063
Southwest Water Co.	1,181		12,164
York Water Co.	324		4,750
			58,446
TOTAL UTILITIES			143,994
TOTAL COMMON STOCKS (Cost $123,136,564)		108,643,482

U.S. Treasury Obligations - 0.1%
	Principal Amount	Value
U.S. Treasury Bills, yield at date of purchase 1.25% 6/26/08 (e) (Cost $99,684)	$ 100,000	$ 99,869

Money Market Funds - 1.8%
	Shares
Fidelity Cash Central Fund, 2.44% (b)	112,785		112,785
Fidelity Securities Lending Cash Central Fund, 2.42% (b)(c)	1,846,429		1,846,429
TOTAL MONEY MARKET FUNDS (Cost $1,959,214)		1,959,214
Cash Equivalents - 0.1%
	Maturity Amount
Investments in repurchase agreements in a joint trading account at 2.15%, dated 5/30/08 due 6/02/08 (Collateralized by U.S. Treasury Obligations) # (Cost $49,000)	$ 49,009		49,000
TOTAL INVESTMENT PORTFOLIO - 101.6% (Cost $125,244,462)			110,751,565
NET OTHER ASSETS - (1.6)%			(1,708,822)
NET ASSETS - 100%		$ 109,042,743

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/ (Depreciation)
Purchased
Equity Index Contracts
9 NASDAQ 100 E-Mini Index Contracts	June 2008	$ 366,345	$ 32,633

The face value of futures purchased as a percentage of net assets - 0.3%

Legend

(a) Non-income producing

(d) Security or a portion of the security is on loan at period end.

(e) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $99,869.

# Additional Information on each counterparty to the repurchase agreement is as follows:

Repurchase Agreement / Counterparty	Value
$49,000 due 6/02/08 at 2.15%
BNP Paribas Securities Corp.	$ 10,664
Banc of America Securities LLC	3,186
Barclays Capital, Inc.	64
Deutsche Bank Securities, Inc.	11,470
Dresdner Kleinwort Securities LLC	15,611
Merrill Lynch Government Securities, Inc.	8,005
	$ 49,000

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund	Income earned
Fidelity Cash Central Fund	$ 6,332
Fidelity Securities Lending Cash Central Fund	51,182
Total	$ 57,514

Other Information

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities	$ 110,751,565	$ 110,602,696	$ 148,869	$ -
Other Financial Instruments*	$ 32,633	$ 32,633	$ -	$ -

*Other financial instruments include Futures Contracts.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements

Statement of Assets and Liabilities

	May 31, 2008

Assets
Investment in securities, at value (including securities loaned of $1,787,452 and repurchase agreements of $49,000) - See accompanying schedule: Unaffiliated issuers (cost $123,285,248)	$ 108,792,351
Fidelity Central Funds (cost $1,959,214)	1,959,214
Total Investments (cost $125,244,462)		$ 110,751,565
Cash		107,485
Receivable for investments sold		164,967
Dividends receivable		95,374
Distributions receivable from Fidelity Central Funds		11,789
Receivable for daily variation on futures contracts		2,008
Prepaid expenses		206
Receivable from investment adviser for expense reductions		15,903
Total assets		111,149,297

Liabilities
Payable for investments purchased	$ 126,973
Accrued management fee	21,442
Distribution fees payable	21,315
Other affiliated payables	3,475
Other payables and accrued expenses	86,920
Collateral on securities loaned, at value	1,846,429
Total liabilities		2,106,554

Net Assets		$ 109,042,743
Net Assets consist of:
Paid in capital		$ 119,404,786
Undistributed net investment income		179,166
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions		3,919,072
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies		(14,460,281)
Net Assets, for 1,100,000 shares outstanding		$ 109,042,743
Net Asset Value, offering price and redemption price per share ($109,042,743 ÷ 1,100,000 shares)		$ 99.13

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

Statement of Operations

	Six months ended May 31, 2008

Investment Income
Dividends		$ 439,152
Interest		927
Income from Fidelity Central Funds (including $51,182 from security lending)		57,514
Total income		497,593

Expenses
Management fee	$ 117,383
Transfer agent and custody fees	70,520
Distribution fees	44,015
Licensing fees	29,344
Accounting and security lending fees	19,104
Independent trustees' compensation	212
Audit	55,301
Legal	332
Miscellaneous	7,231
Total expenses before reductions	343,442
Expense reductions	(197,217)	146,225
Net investment income (loss)		351,368
Realized and Unrealized Gain (Loss) Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers	3,958,349
Foreign currency transactions	42
Futures contracts	(26,403)
Total net realized gain (loss)		3,931,988
Change in net unrealized appreciation (depreciation) on: Investment securities	(6,966,259)
Assets and liabilities in foreign currencies	(16)
Futures contracts	18,217
Total change in net unrealized appreciation (depreciation)		(6,948,058)
Net gain (loss)		(3,016,070)
Net increase (decrease) in net assets resulting from operations		$ (2,664,702)

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Statement of Changes in Net Assets

	Six months ended May 31, 2008	Year ended November 30, 2007
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 351,368	$ 669,392
Net realized gain (loss)	3,931,988	13,781,864
Change in net unrealized appreciation (depreciation)	(6,948,058)	(3,731,088)
Net increase (decrease) in net assets resulting from operations	(2,664,702)	10,720,168
Distributions to shareholders from net investment income	(318,000)	(627,000)
Distributions to shareholders from net realized gain	(121,000)	-
Total distributions	(439,000)	(627,000)
Share transactions Proceeds from sales of shares	80,894,724	195,705,519
Cost of shares redeemed	(83,730,346)	(263,070,715)
Net increase (decrease) in net assets resulting from share transactions	(2,835,622)	(67,365,196)
Total increase (decrease) in net assets	(5,939,324)	(57,272,028)

Net Assets
Beginning of period	114,982,067	172,254,095
End of period (including undistributed net investment income of $179,166 and undistributed net investment income of $145,798, respectively)	$ 109,042,743	$ 114,982,067
Other Information Shares
Sold	900,000	2,000,000
Redeemed	(900,000)	(2,700,000)
Net increase (decrease)	-	(700,000)

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Highlights

	Six months ended May 31,	Years ended November 30,
	2008	2007	2006	2005	2004	2003^H
Selected Per-Share Data
Net asset value, be- ginning of period	$ 104.53	$ 95.70	$ 88.26	$ 83.67	$ 78.44	$ 72.69
Income from Investment Operations
Net investment income (loss)^D	.34	.51	.47	.36	1.00^G	.06
Net realized and unrealized gain (loss)	(5.35)	8.73	7.87	5.40	4.43	5.69
Total from investment operations	(5.01)	9.24	8.34	5.76	5.43	5.75
Distributions from net investment income	(.28)	(.41)	(.40)	(1.17)	(.20)	-
Distributions from net realized gain	(.11)	-	(.50)	-	-	-
Total distributions	(.39)	(.41)	(.90)	(1.17)	(.20)	-
Net asset value, end of period	$ 99.13	$ 104.53	$ 95.70	$ 88.26	$ 83.67	$ 78.44
Total Return^{B, C}	(4.80)%	9.68%	9.54%	6.96%	6.94%	7.91%
Ratios to Average Net Assets^{E, I}
Expenses before reductions	.70%^A	.61%	.61%	.59%	.56%	.51%^A
Expenses net of fee waivers, if any	.30%^A	.30%	.30%	.30%	.30%	.30%^A
Expenses net of all reductions	.30%^A	.30%	.30%	.30%	.30%	.30%^A
Net investment income (loss)	.72%^A	.50%	.52%	.44%	1.26%	.43%^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 109,043	$ 114,982	$ 172,254	$ 123,570	$ 133,865	$ 180,423
Portfolio turnover rate^{F, J}	13%^A	9%	7%	9%	8%	10%^A

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower had certain expenses not been reduced during the periods shown.

^D Calculated based on average shares outstanding during the period.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^G Investment income per share reflects a special dividend which amounted to $.83 per share.

^H For the period September 25, 2003 (commencement of operations) to November 30, 2003.

^I Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund.

^J Portfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Notes to Financial Statements

For the period ended May 31, 2008

1. Organization.

Fidelity Nasdaq Composite Index Tracking Stock (the Fund) is an exchange-traded fund of Fidelity Commonwealth Trust (the trust) and is authorized to issue an unlimited number of shares. The trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.

2. Investments in Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of FMR.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the SEC's web site at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's web site or upon request.

3. Significant Accounting Policies.

Semiannual Report

Notes to Financial Statements - continued

3. Significant Accounting Policies - continued

Security Valuation - continued

settlement price established each day by the board of trade or exchange on which they are traded. Investments in open-end mutual funds , including the Fidelity Central Funds, are valued at their closing net asset value each business day. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value.

Level 1	Quoted prices in active markets for identical securities.
Level 2	Prices determined using other significant observable inputs. Observable inputs are inputs that other market participants would use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others.
Level 3	Prices determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Fund's own assumptions about the factors market participants would use in pricing an investment, and would be based on the best information available.

Changes in valuation techniques may result in transfers in or out of an investment's assigned level within the hierarchy.

A summary of the inputs used as of May 31, 2008, in valuing the Fund's investments is included at the end of the Fund's Schedule of Investments.

Semiannual Report

3. Significant Accounting Policies - continued

Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period.The NAV per share for processing shareholder transactions is calculated as of the close of regular trading hours on the NASDAQ exchange, normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds received from litigation. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. The Fund estimates the components of distributions received that may be considered return of capital distributions or capital gain distributions. Interest income and distributions from the Fidelity Central Funds are accrued as earned. Interest income includes coupon interest and amortization of premium and accretion of discount on debt securities. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

Semiannual Report

Notes to Financial Statements - continued

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

The Fund is subject to the provisions of FASB Interpretation No. 48, Accounting for Uncertainties in Income Taxes (FIN 48). FIN 48 sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. The implementation of FIN 48 did not result in any unrecognized tax benefits in the accompanying financial statements. Each of the Fund's federal tax returns for the prior three fiscal years remains subject to examination by the Internal Revenue Service. Realized gain or loss resulting from in-kind redemptions is not taxable to the Fund and is not distributed to shareholders of the Fund. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.

Book-tax differences are primarily due to short-term capital gains, futures transactions, foreign currency transactions, passive foreign investment companies (PFIC), redemptions in kind, partnerships, and losses deferred due to wash sales and excise tax regulations.

The federal tax cost of investments and unrealized appreciation (depreciation) as of period end were as follows:

Unrealized appreciation	$ 7,267,374
Unrealized depreciation	(21,827,763)
Net unrealized appreciation (depreciation)	$ (14,560,389)
Cost for federal income tax purposes	$ 125,311,954

Semiannual Report

4. Operating Policies.

5. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities and in-kind transactions, aggregated $6,271,521 and $6,111,057 respectively.

Securities received and delivered through in-kind subscriptions and redemptions aggregated $80,835,266 and $83,686,929, respectively. Realized gain (loss) of $4,860,815

Semiannual Report

Notes to Financial Statements - continued

5. Purchases and Sales of Investments - continued

on securities delivered through in-kind redemptions is included in the accompanying Statement of Operations as realized gain or loss on investment securities and is not taxable to the Fund.

6. Fees and Other Transactions with Affiliates.

Distribution and Service Plan. In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted a Distribution and Service Plan. The Fund pays Fidelity Distributors Corporation (FDC), an affiliate of FMR, a distribution fee based on annual percentage of the Fund's average net assets of up to .25%. In addition, FDC pays NASDAQ for marketing services provided to the Fund. For the period, the distribution fees were equivalent to an annualized rate of.09% of average net assets. The total amounts paid to and retained by FDC were $44,015 and $0, respectively.

Accounting and Security Lending Fees. Fidelity Service Company, Inc. (FSC), an affiliate of FMR, maintains the Fund's accounting records. The accounting fee is based on the level of average net assets for the month. Under a separate contract, FSC administers the security lending program. The security lending fee is based on the number and duration of lending transactions.

7. Security Lending.

Semiannual Report

7. Security Lending - continued

experience delays and costs in recovering the securities loaned or in gaining access to the collateral. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on the Fund's Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less fees and expenses associated with the loan, plus any premium payments that may be received on the loan of certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds.

8. Expense Reductions.

FMR contractually agreed to waive expenses of the Fund to the extent annual operating expenses exceeded .30% of average net assets. This waiver will remain in place through January 31, 2009. Some expenses, for example interest expense, are excluded from this waiver. During the period this waiver reduced the Fund's expenses by $196,937.

In addition, through arrangements with the Fund's custodian, credits realized as a result of uninvested cash balances were used to reduce the Fund's expenses. During the period, these credits reduced the Fund's custody expense by $280.

9. Other.

10. Share Transactions.

The Fund issues and redeems shares at Net Asset Value only with certain authorized participants in large increments known as Creation Units. Purchases of Creation Units are made by tendering a basket of designated stocks to the Fund and redemption proceeds are paid with a basket of securities from the Fund's portfolio. The Fund's shares are available in smaller increments to investors in the secondary market at market prices and may be subject to commissions. A transaction fee is charged by the shareholder servicing agent when authorized participants purchase or redeem Creation Units of the Fund. The fee is charged to cover the costs associated with the issuance and redemption of Creation Units. During the period, transaction fees totaled $40,000.

Semiannual Report

Report of Independent Registered Public Accounting Firm

To the Trustees of Fidelity Commonwealth Trust and the Shareholders of Fidelity Nasdaq Composite Index Tracking Stock:

In our opinion, the accompanying statement of assets and liabilities, including the schedule of investments, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of Fidelity Nasdaq Composite Index Tracking Stock (a fund of Fidelity Commonwealth Trust) at May 31, 2008, the results of its operations, the changes in its net assets and the financial highlights for each of the periods indicated, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Fidelity Nasdaq Composite Index Tracking Stock's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities at May 31, 2008 by correspondence with the custodian and brokers, provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Boston, Massachusetts

July 18, 2008

Semiannual Report

Proxy Voting Results

PROPOSAL 1
To elect a Board of Trustees.^A
	# of Votes	% of Votes
James C. Curvey
Affirmative	23,727,587,776.19	95.875
Withheld	1,020,991,311.90	4.125
TOTAL	24,748,579,088.09	100.000
Dennis J. Dirks
Affirmative	23,825,239,061.03	96.269
Withheld	923,340,027.06	3.731
TOTAL	24,748,579,088.09	100.000
Edward C. Johnson 3d
Affirmative	23,651,709,495.75	95.568
Withheld	1,096,869,592.34	4.432
TOTAL	24,748,579,088.09	100.000
Alan J. Lacy
Affirmative	23,800,282,191.08	96.168
Withheld	948,296,897.01	3.832
TOTAL	24,748,579,088.09	100.000
Ned C. Lautenbach
Affirmative	23,793,631,497.85	96.141
Withheld	954,947,590.24	3.859
TOTAL	24,748,579,088.09	100.000
Joseph Mauriello
Affirmative	23,811,616,983.60	96.214
Withheld	936,962,104.49	3.786
TOTAL	24,748,579,088.09	100.000
Cornelia M. Small
Affirmative	23,802,118,377.97	96.176
Withheld	946,460,710.12	3.824
TOTAL	24,748,579,088.09	100.000
	# of Votes	% of Votes
William S. Stavropoulos
Affirmative	23,739,468,362.04	95.923
Withheld	1,009,110,726.05	4.077
TOTAL	24,748,579,088.09	100.000
David M. Thomas
Affirmative	23,821,835,168.41	96.255
Withheld	926,743,919.68	3.745
TOTAL	24,748,579,088.09	100.000
Michael E. Wiley
Affirmative	23,809,071,367.86	96.204
Withheld	939,507,720.23	3.796
TOTAL	24,748,579,088.09	100.000
PROPOSAL 2
To amend the Declaration of Trust of Fidelity Commonwealth Trust to reduce the required quorum for future shareholder meetings.^A
	# of Votes	% of Votes
Affirmative	20,666,515,787.64	83.506
Against	2,780,145,204.68	11.233
Abstain	858,047,822.92	3.468
Broker Non-Votes	443,870,272.85	1.793
TOTAL	24,748,579,088.09	100.000

^A Denotes trust-wide proposal and voting results.

Annual Report

Managing Your Investments

Fidelity offers several ways to conveniently manage your personal investments via your telephone or PC. You can access your account information, conduct trades and research your investments 24 hours a day.

By Phone

Fidelity Automated Service Telephone provides a single toll-free number to access account balances, positions, quotes and trading. It's easy to navigate the service, and on your first call, the system will help you create a personal identification number (PIN) for security.

(phone_graphic)
Fidelity Automated
Service Telephone (FAST®)
1-800-544-5555

Press

fid3853 For mutual fund and brokerage trading.

fid3855 For quotes.*

fid3857 For account balances and holdings.

fid3859 To review orders and mutual
fund activity.

fid3861 To change your PIN.

fid3863 fid3865 To speak to a Fidelity representative.

By PC

Fidelity's web site on the Internet provides a wide range of information, including daily financial news, fund performance, interactive planning tools and news about Fidelity products and services.

(computer_graphic)
Fidelity's Web Site
www.fidelity.com

* When you call the quotes line, please remember that a fund's yield and return will vary and, except for money market funds, share price will also vary. This means that you may have a gain or loss when you sell your shares. There is no assurance that money market funds will be able to maintain a stable $1 share price; an investment in a money market fund is not insured or guaranteed by the U.S. government. Total returns are historical and include changes in share price, reinvestment of dividends and capital gains, and the effects of any sales charges.

Semiannual Report

To Write Fidelity

We'll give your correspondence immediate attention and send you written confirmation upon completion of your request.

(letter_graphic)
Making Changes
To Your Account

(such as changing name, address, bank, etc.)

Fidelity Investments
P.O. Box 770001
Cincinnati, OH 45277-0002

(letter_graphic)
For Non-Retirement
Accounts

Buying shares

Fidelity Investments
P.O. Box 770001
Cincinnati, OH 45277-0003

Overnight Express
Fidelity Investments
Attn: Distribution Services
100 Crosby Parkway - KC1H
Covington, KY 41015

Selling shares

Fidelity Investments
P.O. Box 770001
Cincinnati, OH 45277-0035

Overnight Express
Fidelity Investments
Attn: Distribution Services
100 Crosby Parkway - KC1H
Covington, KY 41015

General Correspondence

Fidelity Investments
P.O. Box 500
Merrimack, NH 03054-0500

(letter_graphic)
For Retirement
Accounts

Buying shares

Fidelity Investments
P.O. Box 770001
Cincinnati, OH 45277-0003

Selling shares

Fidelity Investments
P.O. Box 770001
Cincinnati, OH 45277-0035

Overnight Express
Fidelity Investments
Attn: Distribution Services
100 Crosby Parkway - KC1H
Covington, KY 41015

General Correspondence

Fidelity Investments
P.O. Box 500
Merrimack, NH 03054-0500

Semiannual Report

To Visit Fidelity

For directions and hours,
please call 1-800-544-9797.

Arizona

7001 West Ray Road
Chandler, AZ

15445 N. Scottsdale Road
Scottsdale, AZ

California

815 East Birch Street
Brea, CA

1411 Chapin Avenue
Burlingame, CA

851 East Hamilton Avenue
Campbell, CA

19200 Von Karman Avenue
Irvine, CA

601 Larkspur Landing Circle
Larkspur, CA

2000 Avenue of the Stars
Los Angeles, CA

27101 Puerta Real
Mission Viejo, CA

73-575 El Paseo
Palm Desert, CA

251 University Avenue
Palo Alto, CA

123 South Lake Avenue
Pasadena, CA

16656 Bernardo Ctr. Drive
Rancho Bernardo, CA

1220 Roseville Parkway
Roseville, CA

1740 Arden Way
Sacramento, CA

7676 Hazard Center Drive
San Diego, CA

11943 El Camino Real
San Diego, CA

8 Montgomery Street
San Francisco, CA

3793 State Street
Santa Barbara, CA

1200 Wilshire Boulevard
Santa Monica, CA

398 West El Camino Real
Sunnyvale, CA

111 South Westlake Blvd
Thousand Oaks, CA

21701 Hawthorne Boulevard
Torrance, CA

2001 North Main Street
Walnut Creek, CA

6326 Canoga Avenue
Woodland Hills, CA

Colorado

281 East Flatiron Circle
Broomfield, CO

1625 Broadway
Denver, CO

9185 Westview Road
Lone Tree, CO

Connecticut

48 West Putnam Avenue
Greenwich, CT

265 Church Street
New Haven, CT

300 Atlantic Street
Stamford, CT

29 South Main Street
West Hartford, CT

Delaware

400 Delaware Avenue
Wilmington, DE

Florida

175 East Altamonte Drive
Altamonte Springs, FL

4400 N. Federal Highway
Boca Raton, FL

121 Alhambra Plaza
Coral Gables, FL

2948 N. Federal Highway
Ft. Lauderdale, FL

4671 Town Center Parkway
Jacksonville, FL

8880 Tamiami Trail, North
Naples, FL

230 Royal Palm Way
Palm Beach, FL

3501 PGA Boulevard
Palm Beach Gardens, FL

3550 Tamiami Trail, South
Sarasota, FL

1502 N. Westshore Blvd.
Tampa, FL

2465 State Road 7
Wellington, FL

Georgia

3445 Peachtree Road, N.E.
Atlanta, GA

1000 Abernathy Road
Atlanta, GA

Illinois

One North LaSalle Street
Chicago, IL

401 North Michigan Avenue
Chicago, IL

One Skokie Valley Road
Highland Park, IL

1415 West 22nd Street
Oak Brook, IL

15105 S LaGrange Road
Orland Park, IL

1572 East Golf Road
Schaumburg, IL

Indiana

4729 East 82nd Street
Indianapolis, IN

8480 Keystone Crossing
Indianapolis, IN

Kansas

5400 College Boulevard
Overland Park, KS

Maine

Three Canal Plaza
Portland, ME

Maryland

7315 Wisconsin Avenue
Bethesda, MD

610 York Road
Towson, MD

Massachusetts

801 Boylston Street
Boston, MA

155 Congress Street
Boston, MA

300 Granite Street
Braintree, MA

44 Mall Road
Burlington, MA

238 Main Street
Cambridge, MA

200 Endicott Street
Danvers, MA

Semiannual Report

405 Cochituate Road
Framingham, MA

551 Boston Turnpike
Shrewsbury, MA

Michigan

500 E. Eisenhower Pkwy.
Ann Arbor, MI

280 Old N. Woodward Ave.
Birmingham, MI

30200 Northwestern Hwy.
Farmington Hills, MI

43420 Grand River Avenue
Novi, MI

Minnesota

7740 France Avenue South
Edina, MN

8342 3rd Street North
Oakdale, MN

Missouri

1524 South Lindbergh Blvd.
St. Louis, MO

Nevada

2225 Village Walk Drive
Henderson, NV

New Jersey

501 Route 73 South
Marlton, NJ

150 Essex Street
Millburn, NJ

35 Morris Street
Morristown, NJ

396 Route 17, North
Paramus, NJ

3518 Route 1 North
Princeton, NJ

530 Broad Street
Shrewsbury, NJ

New Mexico

2261 Q Street NE
Albuquerque, NM

New York

1130 Franklin Avenue
Garden City, NY

37 West Jericho Turnpike
Huntington Station, NY

1271 Avenue of the Americas
New York, NY

980 Madison Avenue
New York, NY

61 Broadway
New York, NY

350 Park Avenue
New York, NY

200 Fifth Avenue
New York, NY

733 Third Avenue
New York, NY

11 Penn Plaza
New York, NY

2070 Broadway
New York, NY

1075 Northern Blvd.
Roslyn, NY

799 Central Park Avenue
Scarsdale, NY

North Carolina

4611 Sharon Road
Charlotte, NC

7011 Fayetteville Road
Durham, NC

Ohio

3805 Edwards Road
Cincinnati, OH

1324 Polaris Parkway
Columbus, OH

1800 Crocker Road
Westlake, OH

28699 Chagrin Boulevard
Woodmere Village, OH

Oregon

7493 SW Bridgeport Road
Tigard, OR

Pennsylvania

600 West DeKalb Pike
King of Prussia, PA

1735 Market Street
Philadelphia, PA

12001 Perry Highway
Wexford, PA

Rhode Island

10 Memorial Boulevard
Providence, RI

Tennessee

3018 Peoples Street
Johnson City, TN

7628 West Farmington Blvd.
Germantown, TN

2035 Mallory Lane
Franklin, TN

Texas

10000 Research Boulevard
Austin, TX

4001 Northwest Parkway
Dallas, TX

12532 Memorial Drive
Houston, TX

2701 Drexel Drive
Houston, TX

6560 Fannin Street
Houston, TX

1701 Lake Robbins Drive
The Woodlands, TX

6500 N. MacArthur Blvd.
Irving, TX

6005 West Park Boulevard
Plano, TX

14100 San Pedro
San Antonio, TX

1576 East Southlake Blvd.
Southlake, TX

Utah

279 West South Temple
Salt Lake City, UT

Virginia

1861 International Drive
McLean, VA

Washington

10500 NE 8th Street
Bellevue, WA

1518 6th Avenue
Seattle, WA

Washington, DC

1900 K Street, N.W.
Washington, DC

Wisconsin

16020 West Bluemound Road
Brookfield, WI

Fidelity Brokerage Services, Inc., 100 Summer St., Boston, MA 02110 Member NYSE/SIPC

Semiannual Report

Investment Adviser

Fidelity Management & Research Company

Boston, MA

Investment Sub-Advisers

FMR Co., Inc.

Geode Capital Management, LLC

General Distributor

Fidelity Distributors Corporation

Boston, MA

Transfer and Service Agents

JPMorgan Chase Bank
New York, NY

Fidelity Service Company, Inc.

Boston, MA

Custodian

JPMorgan Chase Bank
New York, NY

The Fidelity Telephone Connection

1-800-FIDELITY

ETF-USAN-0708
1.802769.104

fid3842

Item 2. Code of Ethics

Not applicable.

Item 3. Audit Committee Financial Expert

Not applicable.

Item 4. Principal Accountant Fees and Services

Not applicable.

Item 5. Audit Committee of Listed Registrants

Not applicable.

Item 6. Investments

(a) Not applicable.

(b) Not applicable

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies

Not applicable.

Item 8. Portfolio Managers of Closed-End Management Investment Companies

Not applicable.

Item 9. Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers

Not applicable.

Item 10. Submission of Matters to a Vote of Security Holders

There were no material changes to the procedures by which shareholders may recommend nominees to the Fidelity Commonwealth Trust's Board of Trustees.

Item 11. Controls and Procedures

(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Commonwealth Trust's (the "Trust") disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(a)(ii) There was no change in the Trust's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Trust's internal control over financial reporting.

Item 12. Exhibits

(a)	(1)	Not applicable.
(a)	(2)	Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.
(a)	(3)	Not applicable.
(b)		Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Fidelity Commonwealth Trust

By:	/s/ Kenneth B. Robins
	Kenneth B. Robins
	President and Treasurer

Date:	July 29, 2008

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/ Kenneth B. Robins
	Kenneth B. Robins
	President and Treasurer

Date:	July 29, 2008

By:	/s/Joseph B. Hollis
	Joseph B. Hollis
	Chief Financial Officer

Date:	July 29, 2008

EX-99.CERT 2 common99cert.htm

Exhibit EX-99.CERT

I, Kenneth B. Robins, certify that:

1. I have reviewed this report on Form N-CSR of Fidelity Commonwealth Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: July 29, 2008

/s/Kenneth B. Robins

Kenneth B. Robins

President and Treasurer

I, Joseph B. Hollis, certify that:

1. I have reviewed this report on Form N-CSR of Fidelity Commonwealth Trust;

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: July 29, 2008

/s/Joseph B. Hollis

Joseph B. Hollis

Chief Financial Officer

EX-99.906 CERT 3 common906cert.htm

Exhibit EX-99.906CERT

Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of section 1350, chapter 63 of title 18, United States Code)

In connection with the attached Report of Fidelity Commonwealth Trust (the "Trust") on Form N-CSR to be filed with the Securities and Exchange Commission (the "Report"), each of the undersigned officers of the Trust does hereby certify that, to the best of such officer's knowledge:

1. The Report fully complies with the requirements of 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Trust as of, and for, the periods presented in the Report.

Dated: July 29, 2008

/s/Kenneth B. Robins

Kenneth B. Robins

President and Treasurer

Dated: July 29, 2008

/s/Joseph B. Hollis

Joseph B. Hollis

Chief Financial Officer

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to the Trust and will be retained by the Trust and furnished to the Securities and Exchange Commission or its staff upon request.

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Contents

Chairman's Message

Shareholder Expense Example

Investment Changes (Unaudited)

Investments May 31, 2008 (Unaudited)

Financial Statements

Statement of Assets and Liabilities

Statement of Operations

Statement of Changes in Net Assets

Financial Highlights

Six months ended May 31, 2008

Period ended November 30,

(Unaudited)

2007 H

Notes to Financial Statements

Proxy Voting Results

Contents

Chairman's Message

Shareholder Expense Example

Investment Changes (Unaudited)

Investments May 31, 2008 (Unaudited)

Financial Statements

Statement of Assets and Liabilities

Statement of Operations

Statement of Changes in Net Assets

Financial Highlights

Six months ended May 31, 2008

Years ended November 30,

(Unaudited)

2007

2006

2005

2004

2003 H

Notes to Financial Statements

Proxy Voting Results

Contents

Chairman's Message

Premium/Discount Analysis (Unaudited)

Shareholder Expense Example

Investment Changes (Unaudited)

Investments May 31, 2008

Financial Statements

Statement of Assets and Liabilities

Statement of Operations

Statement of Changes in Net Assets

Financial Highlights

Six months ended May 31,

Years ended November 30,

2008

2007

2006

2005

2004

2003 H

Notes to Financial Statements

Report of Independent Registered Public Accounting Firm

Proxy Voting Results

Managing Your Investments

To Write Fidelity

To Visit Fidelity

Six months ended
May 31, 2008

2007^H

2003 ^H

2003^H