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OMB APPROVAL | ||
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OMB Number: |
3235-0578 | |
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Expires: |
January 31, 2016 | |
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UNITED STATES |
Estimated average burden hours per response. . . . . . . . . . . . . . 10.5 | ||
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SECURITIES AND EXCHANGE COMMISSION |
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Washington, D.C. 20549 |
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FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number |
811-01829 | |||||||
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Columbia Acorn Trust | ||||||||
(Exact name of registrant as specified in charter) | ||||||||
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225 Franklin Street, Boston, Massachusetts |
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02110 | ||||||
(Address of principal executive offices) |
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(Zip code) | ||||||
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Scott R. Plummer 5228 Ameriprise Financial Center Minneapolis, MN 55474 | ||||||||
(Name and address of agent for service) | ||||||||
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Registrants telephone number, including area code: |
1-612-671-1947 |
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Date of fiscal year end: |
December 31 |
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Date of reporting period: |
March 31, 2013 |
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Item 1. Schedule of Investments.
Columbia Acorn Fund
Statement of Investments (Unaudited), March 31, 2013
Number of Shares |
|
|
|
Value |
| |
Equities: 96.1% |
|
|
| |||
Information 26.1% |
|
|
| |||
|
|
> Business Software 5.6% |
|
|
| |
2,350,000 |
|
Ansys (a) |
|
$ |
191,337,000 |
|
|
|
Simulation Software for Engineers & Designers |
|
|
| |
4,500,000 |
|
Informatica (a) |
|
155,115,000 |
| |
|
|
Enterprise Data Integration Software |
|
|
| |
4,862,000 |
|
Hexagon (Sweden) |
|
132,780,323 |
| |
|
|
Design, Measurement & Visualization Software & Equipment |
|
|
| |
2,700,000 |
|
Micros Systems (a) |
|
122,877,000 |
| |
|
|
Information Systems for Hotels, Restaurants & Retailers |
|
|
| |
1,010,000 |
|
Concur Technologies (a)(b) |
|
69,346,600 |
| |
|
|
Web-enabled Cost & Expense Management Software |
|
|
| |
700,000 |
|
NetSuite (a) |
|
56,042,000 |
| |
|
|
End-to-end IT Systems Solutions Delivered Over the Web |
|
|
| |
800,000 |
|
Tyler Technologies (a) |
|
49,008,000 |
| |
|
|
Financial, Tax, Court & Document Management Systems for Local Governments |
|
|
| |
900,000 |
|
SPS Commerce (a)(c) |
|
38,403,000 |
| |
|
|
Supply Chain Management Software Delivered Via the Web |
|
|
| |
700,000 |
|
Red Hat (a) |
|
35,392,000 |
| |
|
|
Maintenance & Support for Opensource Operating System & Middleware |
|
|
| |
750,000 |
|
Jack Henry & Associates |
|
34,657,500 |
| |
|
|
IT Systems & Outsourced IT Solutions for Financial Institutions |
|
|
| |
1,500,000 |
|
RealPage (a) |
|
31,065,000 |
| |
|
|
Software for Managing Rental Properties Delivered Via the Web |
|
|
| |
900,000 |
|
Blackbaud |
|
26,667,000 |
| |
|
|
Software & Services for Non-profits |
|
|
| |
2,761,147 |
|
InContact (a)(c) |
|
22,337,679 |
| |
|
|
Call Center Systems Delivered Via the Web & Telco Services |
|
|
| |
350,000 |
|
Solera Holdings |
|
20,415,500 |
| |
|
|
Software for Automotive Insurance Claims Processing |
|
|
| |
1,000,000 |
|
TIBCO (a) |
|
20,220,000 |
| |
|
|
Datacenter Software |
|
|
| |
1,200,000 |
|
Constant Contact (a) |
|
15,576,000 |
| |
|
|
Email & Other Marketing Campaign Management Systems Delivered Over Web |
|
|
| |
566,412 |
|
DemandWare (a) |
|
14,358,544 |
| |
|
|
E-Commerce Website Solutions for Retailers & Apparel Manufacturers |
|
|
| |
1,700,000 |
|
Bazaarvoice (a)(b) |
|
12,444,000 |
| |
|
|
Platform for Managing Consumer Interaction Via the Web |
|
|
| |
1,000,000 |
|
Exa (a)(c) |
|
9,520,000 |
| |
|
|
Simulation Software |
|
|
| |
3,700,000 |
|
Velti (a)(b)(c) |
|
7,326,000 |
| |
|
|
Mobile Marketing Software Platform |
|
|
| |
900,000 |
|
Active Network (a) |
|
3,771,000 |
| |
|
|
Web Delivered Software Solutions for Managing Events & Activities |
|
|
| |
214,200 |
|
Envestnet (a) |
|
3,750,642 |
| |
|
|
Technology Platform for Investment Advisors |
|
|
| |
|
|
|
|
1,072,409,788 |
| |
|
|
> Instrumentation 3.3% |
|
|
| |
1,600,000 |
|
Mettler-Toledo International (a)(c) |
|
341,152,000 |
| |
|
|
Laboratory Equipment |
|
|
| |
2,620,000 |
|
IPG Photonics (b)(c) |
|
173,994,200 |
| |
|
|
Fiber Lasers |
|
|
| |
4,070,000 |
|
Trimble Navigation (a) |
|
121,937,200 |
| |
|
|
GPS-based Instruments |
|
|
| |
|
|
|
|
637,083,400 |
| |
|
|
> Mobile Communications 2.8% |
|
|
| |
4,200,000 |
|
Crown Castle International (a) |
|
292,488,000 |
| |
|
|
Communications Towers |
|
|
| |
3,400,000 |
|
SBA Communications (a) |
|
244,868,000 |
| |
|
|
Communications Towers |
|
|
| |
910,254 |
|
Globalstar (a) |
|
286,730 |
| |
|
|
Satellite Mobile Voice & Data Carrier |
|
|
| |
|
|
|
|
537,642,730 |
| |
|
|
> Computer Hardware & Related Equipment 2.7% |
|
|
| |
3,415,000 |
|
Amphenol |
|
254,929,750 |
| |
|
|
Electronic Connectors |
|
|
| |
4,550,000 |
|
II-VI (a)(c) |
|
77,532,000 |
| |
|
|
Laser Optics & Specialty Materials |
|
|
| |
1,365,000 |
|
Zebra Technologies (a) |
|
64,332,450 |
| |
|
|
Bar Code Printers |
|
|
| |
900,000 |
|
Netgear (a) |
|
30,159,000 |
| |
|
|
Networking Products for Small Business & Home |
|
|
| |
800,000 |
|
Nice Systems - ADR (Israel) (a) |
|
29,464,000 |
| |
|
|
Audio & Video Recording Solutions |
|
|
| |
310,000 |
|
Stratasys (a)(b) |
|
23,008,200 |
| |
|
|
Rapid Prototyping & Direct Digital Manufacturing Systems |
|
|
| |
169,000 |
|
Gemalto (France) |
|
14,741,861 |
| |
|
|
Digital Security Solutions |
|
|
| |
250,000 |
|
Rogers (a) |
|
11,905,000 |
| |
|
|
Printed Circuit Materials & High-performance Foams |
|
|
| |
|
|
|
|
506,072,261 |
| |
|
|
> Semiconductors & Related Equipment 2.1% |
|
|
| |
7,932,000 |
|
ON Semiconductor (a) |
|
65,676,960 |
| |
|
|
Mixed Signal & Power Management Semiconductors |
|
|
| |
2,160,000 |
|
Microsemi (a) |
|
50,047,200 |
| |
|
|
Analog/Mixed Signal Semiconductors |
|
|
| |
6,614,000 |
|
Atmel (a) |
|
46,033,440 |
| |
|
|
Microcontrollers, Radio Frequency & Memory Semiconductors |
|
|
| |
4,000,000 |
|
Entegris (a) |
|
39,440,000 |
| |
|
|
Semiconductor Materials Management Products |
|
|
| |
Number of Shares |
|
|
Value |
| ||
|
|
> Semiconductors & Related Equipmentcontinued |
|
|
| |
720,000 |
|
Cree (a) |
|
$ |
39,391,200 |
|
|
|
LED Lighting, Components & Chips |
|
|
| |
1,415,000 |
|
Monolithic Power Systems |
|
34,483,550 |
| |
|
|
High Performance Analog & Mixed Signal Integrated Circuits |
|
|
| |
420,000 |
|
Littelfuse |
|
28,497,000 |
| |
|
|
Little Fuses |
|
|
| |
615,000 |
|
Ultratech (a) |
|
24,310,950 |
| |
|
|
Semiconductor Equipment |
|
|
| |
400,000 |
|
Hittite Microwave (a) |
|
24,224,000 |
| |
|
|
Radio Frequency, Microwave & Millimeterwave Semiconductors |
|
|
| |
650,000 |
|
Semtech (a) |
|
23,003,500 |
| |
|
|
Analog Semiconductors |
|
|
| |
2,290,000 |
|
TriQuint Semiconductor (a) |
|
11,564,500 |
| |
|
|
Radio Frequency Semiconductors |
|
|
| |
1,471,224 |
|
Pericom Semiconductor (a)(c) |
|
10,019,035 |
| |
|
|
Interface Integrated Circuits & Frequency Control Products |
|
|
| |
850,000 |
|
IXYS |
|
8,151,500 |
| |
|
|
Power Semiconductors |
|
|
| |
|
|
|
|
404,842,835 |
| |
|
|
> Telephone & Data Services 1.8% |
|
|
| |
9,500,000 |
|
tw telecom (a)(c) |
|
239,305,000 |
| |
|
|
Fiber Optic Telephone/Data Services |
|
|
| |
2,200,000 |
|
Cogent Communications |
|
58,080,000 |
| |
|
|
Internet Data Pipelines |
|
|
| |
3,000,000 |
|
Windstream (b) |
|
23,850,000 |
| |
|
|
Business & Rural Telecom Services |
|
|
| |
1,500,000 |
|
General Communications (a) |
|
13,755,000 |
| |
|
|
Commercial Communications & Consumer CATV, Web & Phone in Alaska |
|
|
| |
1,900,000 |
|
Boingo Wireless (a)(b)(c) |
|
10,488,000 |
| |
|
|
Wholesale & Retail WiFi Networks |
|
|
| |
2,800,000 |
|
Towerstream (a)(b) |
|
6,244,000 |
| |
|
|
High Speed Wireless, Rooftop Antenna Space & WiFi Offload |
|
|
| |
|
|
|
|
351,722,000 |
| |
|
|
> Computer Services 1.6% |
|
|
| |
3,718,400 |
|
iGATE (a)(c) |
|
69,943,104 |
| |
|
|
IT & Business Process Outsourcing Services |
|
|
| |
3,419,000 |
|
Genpact |
|
62,191,610 |
| |
|
|
Business Process Outsourcing |
|
|
| |
1,618,000 |
|
ExlService Holdings (a) |
|
53,199,840 |
| |
|
|
Business Process Outsourcing |
|
|
| |
2,125,000 |
|
Virtusa (a)(c) |
|
50,490,000 |
| |
|
|
Offshore IT Outsourcing |
|
|
| |
2,000,000 |
|
WNS - ADR (India) (a) |
|
29,480,000 |
| |
|
|
Offshore BPO (Business Process Outsourcing) Services |
|
|
| |
430,000 |
|
Syntel |
|
29,033,600 |
| |
|
|
Offshore IT Services |
|
|
| |
3,849,207 |
|
Hackett Group (c) |
|
17,590,876 |
| |
|
|
IT Integration & Best Practice Research |
|
|
| |
|
|
|
|
311,929,030 |
| |
|
|
> Business Information & Marketing Services 1.0% |
|
|
| |
1,900,000 |
|
Verisk Analytics (a) |
|
117,097,000 |
| |
|
|
Risk & Decision Analytics |
|
|
| |
3,924,100 |
|
Navigant Consulting (a)(c) |
|
51,562,674 |
| |
|
|
Financial Consulting Firm |
|
|
| |
1,921,382 |
|
RPX (a) |
|
27,110,700 |
| |
|
|
Patent Aggregation & Defensive Patent Consulting |
|
|
| |
100,000 |
|
Bankrate (a) |
|
1,194,000 |
| |
|
|
Internet Advertising |
|
|
| |
|
|
|
|
196,964,374 |
| |
|
|
> Gaming Equipment & Services 1.0% |
|
|
| |
3,725,000 |
|
Bally Technologies (a)(c) |
|
193,588,250 |
| |
|
|
Slot Machines & Software |
|
|
| |
|
|
|
|
|
| |
|
|
> Internet Related 0.7% |
|
|
| |
1,325,000 |
|
TripAdvisor (a) |
|
69,589,000 |
| |
|
|
Online Travel Research |
|
|
| |
250,000 |
|
Equinix (a) |
|
54,077,500 |
| |
|
|
Network Neutral Data Centers |
|
|
| |
727,000 |
|
Yandex (Russia) (a) |
|
16,808,240 |
| |
|
|
Search Engine for Russian & Turkish Languages |
|
|
| |
|
|
|
|
140,474,740 |
| |
|
|
> Financial Processors 0.7% |
|
|
| |
1,700,000 |
|
Global Payments |
|
84,422,000 |
| |
|
|
Credit Card Processor |
|
|
| |
5,000,000 |
|
Singapore Exchange (Singapore) |
|
31,148,289 |
| |
|
|
Singapore Equity & Derivatives Market Operator |
|
|
| |
600,000 |
|
Liquidity Services (a)(b) |
|
17,886,000 |
| |
|
|
E-Auctions for Surplus & Salvage Goods |
|
|
| |
|
|
|
|
133,456,289 |
| |
|
|
> Telecommunications Equipment 0.7% |
|
|
| |
640,000 |
|
F5 Networks (a) |
|
57,011,200 |
| |
|
|
Internet Traffic Management Equipment |
|
|
| |
1,730,000 |
|
Ixia (a) |
|
37,437,200 |
| |
|
|
Telecom Network Test Equipment |
|
|
| |
1,675,000 |
|
Finisar (a) |
|
22,093,250 |
| |
|
|
Optical Subsystems & Components |
|
|
| |
1,925,000 |
|
Infinera (a) |
|
13,475,000 |
| |
|
|
Optical Networking Equipment |
|
|
| |
|
|
|
|
130,016,650 |
| |
|
|
> Electronics Distribution 0.6% |
|
|
| |
3,125,000 |
|
Avnet (a) |
|
113,125,000 |
| |
|
|
Electronic Components Distribution |
|
|
| |
|
|
|
|
|
| |
|
|
> CATV 0.6% |
|
|
| |
800,000 |
|
Liberty Global Series A (a) |
|
58,720,000 |
| |
|
|
Cable TV Franchises Outside the U.S. |
|
|
| |
720,000 |
|
Discovery Series C (a) |
|
50,068,800 |
| |
|
|
Cable TV Programming |
|
|
| |
|
|
|
|
108,788,800 |
| |
|
|
> Contract Manufacturing 0.4% |
|
|
| |
3,800,000 |
|
Sanmina (a) |
|
43,168,000 |
| |
|
|
Electronic Manufacturing Services |
|
|
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Contract Manufacturingcontinued |
|
|
| |
960,000 |
|
Plexus (a) |
|
$ |
23,337,600 |
|
|
|
Electronic Manufacturing Services |
|
|
| |
|
|
|
|
66,505,600 |
| |
|
|
> Advertising 0.3% |
|
|
| |
1,200,000 |
|
Lamar Advertising (a) |
|
58,332,000 |
| |
|
|
Outdoor Advertising |
|
|
| |
63,176 |
|
Tree.com |
|
1,168,124 |
| |
|
|
Advertising Lead Generation for the Mortgage, Education & Auto Markets |
|
|
| |
|
|
|
|
59,500,124 |
| |
|
|
> Entertainment Programming 0.2% |
|
|
| |
1,100,000 |
|
IMAX (Canada) (a) |
|
29,403,000 |
| |
|
|
IMAX Movies, Theatre Equipment & Theatre Joint Ventures |
|
|
| |
|
|
|
|
|
| |
|
|
> TV Broadcasting % |
|
|
| |
2,361,062 |
|
Entravision Communications |
|
7,531,788 |
| |
|
|
Spanish Language TV & Radio Stations |
|
|
| |
Information: Total |
|
5,001,056,659 |
| |||
|
|
|
|
|
| |
Industrial Goods & Services 20.0% |
|
|
| |||
|
|
> Machinery 11.7% |
|
|
| |
9,900,000 |
|
Ametek |
|
429,264,000 |
| |
|
|
Aerospace/Industrial Instruments |
|
|
| |
8,400,000 |
|
Donaldson (c) |
|
303,996,000 |
| |
|
|
Industrial Air Filtration |
|
|
| |
3,400,000 |
|
Nordson (c) |
|
224,230,000 |
| |
|
|
Dispensing Systems for Adhesives & Coatings |
|
|
| |
3,230,000 |
|
Moog (a)(c) |
|
148,030,900 |
| |
|
|
Motion Control Products for Aerospace, Defense & Industrial Markets |
|
|
| |
3,725,000 |
|
Kennametal |
|
145,424,000 |
| |
|
|
Consumable Cutting Tools |
|
|
| |
1,660,000 |
|
Pall |
|
113,494,200 |
| |
|
|
Life Science, Water & Industrial Filtration |
|
|
| |
3,063,000 |
|
HEICO (c) |
|
105,091,530 |
| |
|
|
FAA Approved Aircraft Replacement Parts |
|
|
| |
2,400,000 |
|
Oshkosh Corporation (a) |
|
101,976,000 |
| |
|
|
Specialty Truck Manufacturer |
|
|
| |
2,725,000 |
|
Generac |
|
96,301,500 |
| |
|
|
Standby Power Generators |
|
|
| |
1,750,000 |
|
Clarcor |
|
91,665,000 |
| |
|
|
Mobile Equipment & Industrial Filters |
|
|
| |
2,200,000 |
|
ESCO Technologies (c) |
|
89,892,000 |
| |
|
|
Automatic Electric Meter Readers |
|
|
| |
1,610,000 |
|
Toro |
|
74,124,400 |
| |
|
|
Turf Maintenance Equipment |
|
|
| |
435,000 |
|
Valmont Industries |
|
68,412,450 |
| |
|
|
Center Pivot Irrigation Systems & Utility Poles |
|
|
| |
1,600,000 |
|
Polypore International (a)(b) |
|
64,288,000 |
| |
|
|
Battery Separators & Filtration Media |
|
|
| |
600,000 |
|
Wabtec |
|
61,266,000 |
| |
|
|
Freight & Transit Component Supplier |
|
|
| |
750,000 |
|
WABCO Holdings (a) |
|
52,942,500 |
| |
|
|
Truck & Bus Component Supplier |
|
|
| |
201,220 |
|
Middleby (a) |
|
30,615,623 |
| |
|
|
Manufacturer of Cooking Equipment |
|
|
| |
400,000 |
|
Neopost (France) (b) |
|
23,962,919 |
| |
|
|
Postage Meter Machines |
|
|
| |
10,000,000 |
|
Marel (Iceland) |
|
12,529,809 |
| |
|
|
Largest Manufacturer of Poultry & Fish Processing Equipment |
|
|
| |
369,758 |
|
Spartan Motors |
|
1,963,415 |
| |
|
|
Specialty Truck & Chassis Manufacturer |
|
|
| |
|
|
|
|
2,239,470,246 |
| |
|
|
> Industrial Materials & Specialty Chemicals 2.2% |
|
|
| |
1,430,000 |
|
Albemarle |
|
89,403,600 |
| |
|
|
Specialty Chemicals for Refineries, Plastics, Pharma, Food |
|
|
| |
1,880,000 |
|
Drew Industries (c) |
|
68,262,800 |
| |
|
|
RV & Manufactured Home Components |
|
|
| |
1,050,000 |
|
FMC Corporation |
|
59,881,500 |
| |
|
|
Niche Specialty Chemicals |
|
|
| |
775,000 |
|
Ashland |
|
57,582,500 |
| |
|
|
Diversified Chemicals Company |
|
|
| |
673,000 |
|
Sociedad Quimica y Minera de Chile - ADR (Chile) (b) |
|
37,317,850 |
| |
|
|
Producer of Specialty Fertilizers, Lithium & Iodine |
|
|
| |
1,000,000 |
|
Novozymes (Denmark) (b) |
|
33,956,346 |
| |
|
|
Industrial Enzymes |
|
|
| |
1,200,000 |
|
Polyone |
|
29,292,000 |
| |
|
|
Intermediate Stage Chemicals Producer |
|
|
| |
2,218,700 |
|
Kansai Paint (Japan) |
|
24,641,724 |
| |
|
|
Paint Producer in Japan, India, China & Southeast Asia |
|
|
| |
125,000 |
|
RockTenn |
|
11,598,750 |
| |
|
|
Paper Based Packaging |
|
|
| |
200,000 |
|
Silgan Holdings |
|
9,450,000 |
| |
|
|
Metal & Plastic Packaging |
|
|
| |
|
|
|
|
421,387,070 |
| |
|
|
> Construction 1.7% |
|
|
| |
2,850,000 |
|
Chicago Bridge & Iron |
|
176,985,000 |
| |
|
|
Engineering & Construction for Liquefied Natural Gas & Petrochemicals |
|
|
| |
72,000 |
|
NVR (a) |
|
77,767,920 |
| |
|
|
Homebuilder |
|
|
| |
1,050,000 |
|
Fortune Brands Home & Security (a) |
|
39,301,500 |
| |
|
|
Home Building Supplies & Small Locks |
|
|
| |
1,800,000 |
|
Mills Estruturas e Servicos de Engenharia (Brazil) |
|
28,869,479 |
| |
|
|
Civil Engineering & Construction |
|
|
| |
|
|
|
|
322,923,899 |
| |
|
|
> Other Industrial Services 1.4% |
|
|
| |
2,000,000 |
|
Expeditors International of Washington |
|
71,420,000 |
| |
|
|
International Freight Forwarder |
|
|
| |
2,700,000 |
|
LKQ (a) |
|
58,752,000 |
| |
|
|
Alternative Auto Parts Distribution |
|
|
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Other Industrial Servicescontinued |
|
|
| |
1,500,000 |
|
Forward Air (c) |
|
$ |
55,935,000 |
|
|
|
Freight Transportation Between Airports |
|
|
| |
1,600,000 |
|
Mobile Mini (a) |
|
47,088,000 |
| |
|
|
Portable Storage Units Leasing |
|
|
| |
1,948,368 |
|
Imtech (Netherlands) (b) |
|
22,050,578 |
| |
|
|
Technical Installation & Maintenance |
|
|
| |
1,520,957 |
|
Acorn Energy (b)(c) |
|
11,179,034 |
| |
|
|
Frac Well Exploration/Monitoring Device, Sonar Security, Electric Grid Monitoring |
|
|
| |
500,000 |
|
UTI Worldwide |
|
7,240,000 |
| |
|
|
Freight Forwarding & Logistics |
|
|
| |
|
|
|
|
273,664,612 |
| |
|
|
> Electrical Components 0.9% |
|
|
| |
1,765,000 |
|
Acuity Brands |
|
122,402,750 |
| |
|
|
Commercial Lighting Fixtures |
|
|
| |
1,065,000 |
|
Thermon (a) |
|
23,653,650 |
| |
|
|
Global Engineered Thermal Solutions |
|
|
| |
1,500,000 |
|
Ushio (Japan) |
|
15,355,753 |
| |
|
|
Industrial Light Sources |
|
|
| |
|
|
|
|
161,412,153 |
| |
|
|
> Industrial Distribution 0.7% |
|
|
| |
1,200,000 |
|
WESCO International (a) |
|
87,132,000 |
| |
|
|
Industrial Distributor |
|
|
| |
294,180 |
|
Airgas |
|
29,170,889 |
| |
|
|
Industrial Gas Distributor |
|
|
| |
700,000 |
|
MRC Global (a) |
|
23,051,000 |
| |
|
|
Industrial Distributor |
|
|
| |
|
|
|
|
139,353,889 |
| |
|
|
> Outsourcing Services 0.7% |
|
|
| |
2,800,000 |
|
Quanta Services (a) |
|
80,024,000 |
| |
|
|
Electrical & Telecom Construction Services |
|
|
| |
1,400,000 |
|
Insperity (c) |
|
39,718,000 |
| |
|
|
Professional Employer Organization |
|
|
| |
600,000 |
|
GP Strategies (a) |
|
14,316,000 |
| |
|
|
Outsourced Training Services |
|
|
| |
|
|
|
|
134,058,000 |
| |
|
|
> Waste Management 0.4% |
|
|
| |
2,050,000 |
|
Waste Connections |
|
73,759,000 |
| |
|
|
Solid Waste Management |
|
|
| |
|
|
|
|
|
| |
|
|
> Conglomerates 0.3% |
|
|
| |
2,695,419 |
|
Aalberts Industries (Netherlands) |
|
60,274,655 |
| |
|
|
Flow Control & Heat Treatment |
|
|
| |
Industrial Goods & Services: Total |
|
3,826,303,524 |
| |||
|
|
|
| |||
Consumer Goods & Services 16.3% |
|
|
| |||
|
|
> Retail 5.2% |
|
|
| |
2,718,427 |
|
lululemon athletica (a)(b) |
|
169,493,923 |
| |
|
|
Premium Active Apparel Retailer |
|
|
| |
7,185,000 |
|
Pier 1 Imports (c) |
|
165,255,000 |
| |
|
|
Home Furnishing Retailer |
|
|
| |
2,231,000 |
|
Abercrombie & Fitch |
|
103,072,200 |
| |
|
|
Teen Apparel Retailer |
|
|
| |
1,975,000 |
|
Shutterfly (a)(c) |
|
87,235,750 |
| |
|
|
Internet Photo-centric Retailer |
|
|
| |
1,065,627 |
|
ULTA (a) |
|
86,496,944 |
| |
|
|
Specialty Beauty Product Retailer |
|
|
| |
1,675,000 |
|
Williams-Sonoma |
|
86,296,000 |
| |
|
|
Home Goods & Furnishing Retailer |
|
|
| |
822,845 |
|
Fossil (a) |
|
79,486,827 |
| |
|
|
Watch Designer & Retailer |
|
|
| |
4,100,000 |
|
Saks (a) |
|
47,027,000 |
| |
|
|
Luxury Department Store Retailer |
|
|
| |
1,925,000 |
|
American Eagle Outfitters |
|
35,997,500 |
| |
|
|
Teen Apparel Retailer |
|
|
| |
525,000 |
|
DSW |
|
33,495,000 |
| |
|
|
Branded Footwear Retailer |
|
|
| |
538,104 |
|
Caseys General Stores |
|
31,371,463 |
| |
|
|
Owner/Operator of Convenience Stores |
|
|
| |
790,000 |
|
Urban Outfitters (a) |
|
30,604,600 |
| |
|
|
Multi-channel Apparel & Accessory Retailer |
|
|
| |
852,000 |
|
Massmart Holdings (South Africa) |
|
17,627,810 |
| |
|
|
General Merchandise, Food & Home Improvement Stores; Wal-Mart Subsidiary |
|
|
| |
450,000 |
|
Five Below (a)(b) |
|
17,050,500 |
| |
|
|
Specialty Retailer Targeting Pre-Teen & Teen |
|
|
| |
1,371,366 |
|
Gaiam (a)(c) |
|
5,759,737 |
| |
|
|
Healthy Living Catalogs & E-Commerce, Non-theatrical Media |
|
|
| |
200,000 |
|
Tile Shop Holdings (a)(b) |
|
4,202,000 |
| |
|
|
Specialty Retailer of Tiles & Related Accessories |
|
|
| |
|
|
|
|
1,000,472,254 |
| |
|
|
> Travel 3.8% |
|
|
| |
4,520,690 |
|
Ryman Hospitality Properties (b)(c) |
|
206,821,567 |
| |
|
|
Convention Hotels |
|
|
| |
4,400,000 |
|
Avis Budget Group (a) |
|
122,452,000 |
| |
|
|
Second Largest Car Rental Company |
|
|
| |
1,430,000 |
|
Vail Resorts |
|
89,117,600 |
| |
|
|
Ski Resort Operator & Developer |
|
|
| |
3,750,000 |
|
Hertz (a) |
|
83,475,000 |
| |
|
|
Largest U.S. Rental Car Operator |
|
|
| |
1,650,000 |
|
Choice Hotels |
|
69,811,500 |
| |
|
|
Franchisor of Budget Hotel Brands |
|
|
| |
1,100,000 |
|
Expedia |
|
66,011,000 |
| |
|
|
Online Travel Services Company |
|
|
| |
1,600,000 |
|
HomeAway (a) |
|
52,000,000 |
| |
|
|
Vacation Rental Online Marketplace |
|
|
| |
2,000,000 |
|
Localiza Rent A Car (Brazil) |
|
35,927,255 |
| |
|
|
Car Rental |
|
|
| |
|
|
|
|
725,615,922 |
| |
|
|
> Casinos & Gaming 1.2% |
|
|
| |
3,000,000 |
|
Melco Crown Entertainment - ADR (Hong Kong) (a) |
|
70,020,000 |
| |
|
|
Macau Casino Operator |
|
|
| |
3,950,000 |
|
Pinnacle Entertainment (a)(c) |
|
57,749,000 |
| |
|
|
Regional Casino Operator |
|
|
| |
850,000 |
|
Penn National Gaming (a) |
|
46,265,500 |
| |
|
|
Regional Casino Operator |
|
|
| |
12,000,000 |
|
MGM China Holdings (Hong Kong) |
|
25,731,024 |
| |
|
|
Macau Casino Operator |
|
|
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Casinos & Gamingcontinued |
|
|
| |
25,000,000 |
|
Nagacorp (Cambodia) |
|
$ |
21,131,062 |
|
|
|
Casino/Entertainment Complex in Cambodia |
|
|
| |
|
|
|
|
220,896,586 |
| |
|
|
> Apparel 1.1% |
|
|
| |
1,296,000 |
|
PVH |
|
138,425,760 |
| |
|
|
Apparel Wholesaler & Retailer |
|
|
| |
810,000 |
|
Deckers Outdoor (a)(b) |
|
45,108,900 |
| |
|
|
Fashion Footwear Wholesaler |
|
|
| |
600,000 |
|
Steven Madden (a) |
|
25,884,000 |
| |
|
|
Wholesaler/Retailer of Fashion Footwear |
|
|
| |
1,500,000 |
|
Quiksilver (a) |
|
9,105,000 |
| |
|
|
Action Sports Lifestyle Branded Apparel & Footwear |
|
|
| |
|
|
|
|
218,523,660 |
| |
|
|
> Consumer Goods Distribution 1.1% |
|
|
| |
2,015,000 |
|
Pool |
|
96,720,000 |
| |
|
|
Swimming Pool Supplies & Equipment Distributor |
|
|
| |
2,305,000 |
|
GNC Holdings |
|
90,540,400 |
| |
|
|
Specialty Retailer of Health & Wellness Products |
|
|
| |
625,000 |
|
United Stationers |
|
24,156,250 |
| |
|
|
Wholesale Distributor of Business Products |
|
|
| |
|
|
|
|
211,416,650 |
| |
|
|
> Furniture & Textiles 0.9% |
|
|
| |
3,671,923 |
|
Knoll (c) |
|
66,571,964 |
| |
|
|
Office Furniture |
|
|
| |
2,250,000 |
|
Herman Miller |
|
62,257,500 |
| |
|
|
Office Furniture |
|
|
| |
2,325,000 |
|
Interface |
|
44,686,500 |
| |
|
|
Modular Carpet |
|
|
| |
215,000 |
|
Caesarstone (Israel) (a) |
|
5,676,000 |
| |
|
|
Quartz Countertops |
|
|
| |
|
|
|
|
179,191,964 |
| |
|
|
> Other Consumer Services 0.8% |
|
|
| |
2,280,000 |
|
Lifetime Fitness (a)(c) |
|
97,538,400 |
| |
|
|
Sport & Fitness Club Operator |
|
|
| |
17,000,000 |
|
Lifestyle International (Hong Kong) |
|
37,801,033 |
| |
|
|
Mid- to High-end Department Store Operator in Hong Kong & China |
|
|
| |
1,062,500 |
|
Move (a) |
|
12,696,875 |
| |
|
|
Real Estate Internet Websites |
|
|
| |
450,000 |
|
IFM Investments (Century 21 China RE) - ADR (China) (a) |
|
1,206,000 |
| |
|
|
Provide Real Estate Services in China |
|
|
| |
|
|
|
|
149,242,308 |
| |
|
|
> Restaurants 0.6% |
|
|
| |
2,000,000 |
|
AFC Enterprises (a)(c) |
|
72,660,000 |
| |
|
|
Popeyes Restaurants |
|
|
| |
630,000 |
|
Dominos Pizza |
|
32,407,200 |
| |
|
|
Franchisor of Pizza Restaurants |
|
|
| |
675,000 |
|
Bravo Brio Restaurant Group (a) |
|
10,685,250 |
| |
|
|
Upscale Casual Italian Restaurants |
|
|
| |
|
|
|
|
115,752,450 |
| |
|
|
> Food & Beverage 0.6% |
|
|
| |
1,800,000 |
|
Arcos Dorados (Brazil) (b) |
|
23,760,000 |
| |
|
|
McDonalds Master Franchise for Latin America |
|
|
| |
2,475,000 |
|
Boulder Brands (a) |
|
22,225,500 |
| |
|
|
Healthy Food Products |
|
|
| |
700,000 |
|
B&G Foods |
|
21,343,000 |
| |
|
|
Acquiror of Small Food Brands |
|
|
| |
14,000,000 |
|
Olam International (Singapore) (b) |
|
19,490,063 |
| |
|
|
Agriculture Supply Chain Manager |
|
|
| |
320,845 |
|
Monster Beverage (a) |
|
15,317,141 |
| |
|
|
Alternative Beverages |
|
|
| |
282,000 |
|
Crimson Wine Group (a)(b) |
|
2,622,600 |
| |
|
|
Winery |
|
|
| |
1,665,270 |
|
GLG Life Tech (Canada) (a)(c)(d) |
|
553,702 |
| |
|
|
Produce an All-natural Sweetener Extracted from the Stevia Plant |
|
|
| |
|
|
|
|
105,312,006 |
| |
|
|
> Other Durable Goods 0.4% |
|
|
| |
892,500 |
|
Jarden (a) |
|
38,243,625 |
| |
|
|
Branded Household Products |
|
|
| |
460,000 |
|
Cavco Industries (a)(c) |
|
21,882,200 |
| |
|
|
Manufactured Homes |
|
|
| |
550,000 |
|
Tesla Motors (a)(b) |
|
20,839,500 |
| |
|
|
Designs, Manufactures & Sells High Performance Electric Vehicles |
|
|
| |
|
|
|
|
80,965,325 |
| |
|
|
> Nondurables 0.3% |
|
|
| |
1,600,000 |
|
Helen of Troy (a)(c) |
|
61,376,000 |
| |
|
|
Personal Care, Housewares, Healthcare & Home Environment Products |
|
|
| |
|
|
|
|
|
| |
|
|
> Educational Services 0.3% |
|
|
| |
1,300,000 |
|
DeVry |
|
41,275,000 |
| |
|
|
Postsecondary Degree Services |
|
|
| |
500,000 |
|
ITT Educational Services (a)(b) |
|
6,890,000 |
| |
|
|
Postsecondary Degree Services |
|
|
| |
2,000,000 |
|
Voyager Learning - Contingent Value Rights (a)(d)(e) |
|
236,000 |
| |
|
|
Education Services for the K-12 Market |
|
|
| |
|
|
|
|
48,401,000 |
| |
|
|
> Other Entertainment % |
|
|
| |
64,727 |
|
CTS Eventim (Germany) |
|
2,194,566 |
| |
|
|
Event Ticket Sales |
|
|
| |
Consumer Goods & Services: Total |
|
3,119,360,691 |
| |||
|
|
|
| |||
Finance 12.0% |
|
|
| |||
|
|
> Banks 4.3% |
|
|
| |
2,638,000 |
|
BOK Financial |
|
164,347,400 |
| |
|
|
Tulsa-based Southwest Bank |
|
|
| |
7,756,800 |
|
Associated Banc-Corp |
|
117,825,792 |
| |
|
|
Midwest Bank |
|
|
| |
1,348,000 |
|
City National |
|
79,410,680 |
| |
|
|
Bank & Asset Manager |
|
|
| |
2,337,313 |
|
Hancock Holding |
|
72,269,718 |
| |
|
|
Gulf Coast Bank |
|
|
| |
985,000 |
|
SVB Financial Group (a) |
|
69,875,900 |
| |
|
|
Bank to Venture Capitalists |
|
|
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Bankscontinued |
|
|
| |
2,860,000 |
|
MB Financial (c) |
|
$ |
69,126,200 |
|
|
|
Chicago Bank |
|
|
| |
5,323,500 |
|
Valley National Bancorp (b) |
|
54,512,640 |
| |
|
|
New Jersey/New York Bank |
|
|
| |
2,200,000 |
|
TCF Financial |
|
32,912,000 |
| |
|
|
Great Lakes Bank |
|
|
| |
1,162,000 |
|
Sandy Spring Bancorp |
|
23,356,200 |
| |
|
|
Baltimore, Washington, D.C. Bank |
|
|
| |
1,350,000 |
|
TriCo Bancshares (c) |
|
23,085,000 |
| |
|
|
California Central Valley Bank |
|
|
| |
550,000 |
|
Wintrust Financial |
|
20,372,000 |
| |
|
|
Chicago & Milwaukee Full Service Bank |
|
|
| |
4,299,507 |
|
First Busey |
|
19,648,747 |
| |
|
|
Illinois Bank |
|
|
| |
2,500,000 |
|
First Commonwealth |
|
18,650,000 |
| |
|
|
Western Pennsylvania Bank |
|
|
| |
635,000 |
|
Eagle Bancorp (a) |
|
13,900,150 |
| |
|
|
Metro Washington, D.C. Bank |
|
|
| |
811,295 |
|
Hudson Valley |
|
12,096,408 |
| |
|
|
Metro New York City Bank |
|
|
| |
2,136,500 |
|
TrustCo Bank |
|
11,921,670 |
| |
|
|
New York State Bank |
|
|
| |
733,896 |
|
Oriental Financial Group (b) |
|
11,382,727 |
| |
|
|
Puerto Rican Bank |
|
|
| |
850,000 |
|
CVB Financial |
|
9,579,500 |
| |
|
|
Inland Empire Business Bank |
|
|
| |
|
|
|
|
824,272,732 |
| |
|
|
> Insurance 2.8% |
|
|
| |
8,900,000 |
|
CNO Financial Group |
|
101,905,000 |
| |
|
|
Life, Long-term Care & Medical Supplement Insurance |
|
|
| |
833,000 |
|
Allied World Holdings |
|
77,235,760 |
| |
|
|
Commerical Lines Insurance/Reinsurance |
|
|
| |
1,400,000 |
|
The Hanover Insurance Group |
|
69,552,000 |
| |
|
|
Commercial & Personal Lines Insurance |
|
|
| |
3,738,900 |
|
Tower Group (c) |
|
68,982,705 |
| |
|
|
Commercial & Personal Lines Insurance |
|
|
| |
2,625,000 |
|
Selective Insurance Group |
|
63,026,250 |
| |
|
|
Commercial & Personal Lines Insurance |
|
|
| |
1,500,000 |
|
Brown & Brown |
|
48,060,000 |
| |
|
|
Insurance Broker |
|
|
| |
1,100,000 |
|
HCC Insurance Holdings |
|
46,233,000 |
| |
|
|
Specialty Insurance |
|
|
| |
250,000 |
|
Enstar Group (a) |
|
31,072,500 |
| |
|
|
Insurance/Reinsurance & Related Services |
|
|
| |
925,000 |
|
Kemper |
|
30,164,250 |
| |
|
|
Multi-line Insurance |
|
|
| |
|
|
|
|
536,231,465 |
| |
|
|
> Finance Companies 1.8% |
|
|
| |
1,285,000 |
|
World Acceptance (a)(c) |
|
110,342,950 |
| |
|
|
Personal Loans |
|
|
| |
3,400,000 |
|
H & E Equipment Services (c) |
|
69,360,000 |
| |
|
|
Heavy Equipment Leasing |
|
|
| |
2,150,000 |
|
McGrath Rentcorp (c) |
|
66,865,000 |
| |
|
|
Temporary Space & IT Rentals |
|
|
| |
1,400,000 |
|
CAI International (a)(c) |
|
40,348,000 |
| |
|
|
International Container Leasing |
|
|
| |
1,091,000 |
|
Marlin Business Services (c) |
|
25,300,290 |
| |
|
|
Small Equipment Leasing |
|
|
| |
450,000 |
|
Onex Capital (Canada) |
|
21,457,892 |
| |
|
|
Private Equity |
|
|
| |
228,500 |
|
Textainer Group Holdings |
|
9,037,175 |
| |
|
|
Top International Container Leasor |
|
|
| |
100,000 |
|
Green Dot (a) |
|
1,671,000 |
| |
|
|
Provider of Reloadable Prepaid Debt Cards & Online Banking |
|
|
| |
|
|
|
|
344,382,307 |
| |
|
|
> Brokerage & Money Management 1.8% |
|
|
| |
7,100,000 |
|
SEI Investments |
|
204,835,000 |
| |
|
|
Mutual Fund Administration & Investment Management |
|
|
| |
3,052,000 |
|
Eaton Vance |
|
127,665,160 |
| |
|
|
Specialty Mutual Funds |
|
|
| |
380,446 |
|
Kennedy-Wilson Holdings |
|
5,900,718 |
| |
|
|
Global Distress Real Estate |
|
|
| |
1,000,000 |
|
Artio Global Investors |
|
2,720,000 |
| |
|
|
International Asset Manager |
|
|
| |
|
|
|
|
341,120,878 |
| |
|
|
> Credit Cards 0.7% |
|
|
| |
550,000 |
|
Alliance Data Systems (a) |
|
89,039,500 |
| |
|
|
Diversified Credit Card Provider |
|
|
| |
500,000 |
|
WEX Corp (a) |
|
39,250,000 |
| |
|
|
Pay Card Processor |
|
|
| |
|
|
|
|
128,289,500 |
| |
|
|
> Diversified Financial Companies 0.4% |
|
|
| |
2,820,000 |
|
Leucadia National |
|
77,352,600 |
| |
|
|
Holding Company |
|
|
| |
|
|
|
|
|
| |
|
|
> Savings & Loans 0.2% |
|
|
| |
400,000 |
|
Financial Engines |
|
14,488,000 |
| |
|
|
Asset Management for 401k Plans |
|
|
| |
470,000 |
|
ViewPoint Financial |
|
9,451,700 |
| |
|
|
Texas Thrift |
|
|
| |
1,010,000 |
|
Provident New York Bancorp |
|
9,160,700 |
| |
|
|
New York State Thrift |
|
|
| |
452,146 |
|
Simplicity Bancorp (c) |
|
6,795,755 |
| |
|
|
Los Angeles Savings & Loan |
|
|
| |
65,991 |
|
Berkshire Hills Bancorp |
|
1,685,410 |
| |
|
|
Northeast Thrift |
|
|
| |
|
|
|
|
41,581,565 |
| |
Finance: Total |
|
2,293,231,047 |
| |||
|
|
|
| |||
Health Care 8.3% |
|
|
| |||
|
|
> Biotechnology & Drug Delivery 3.9% |
|
|
| |
6,550,000 |
|
Seattle Genetics (a)(c) |
|
232,590,500 |
| |
|
|
Antibody-based Therapies for Cancer |
|
|
| |
2,540,000 |
|
BioMarin Pharmaceutical (a) |
|
158,140,400 |
| |
|
|
Biotech Focused on Orphan Diseases |
|
|
| |
870,000 |
|
Onyx Pharmaceuticals (a) |
|
77,308,200 |
| |
|
|
Commercial-stage Biotech Focused on Cancer |
|
|
| |
1,386,633 |
|
Synageva Biopharma (a)(c) |
|
76,153,884 |
| |
|
|
Biotech Focused on Orphan Diseases |
|
|
| |
3,130,000 |
|
ARIAD Pharmaceuticals (a) |
|
56,621,700 |
| |
|
|
Biotech Focused on Cancer |
|
|
| |
1,310,000 |
|
Sarepta Therapeutics (a)(b) |
|
48,404,500 |
| |
|
|
Biotech Focused on Rare Diseases |
|
|
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Biotechnology & Drug Deliverycontinued |
|
|
| |
3,283,000 |
|
NPS Pharmaceuticals (a) |
|
$ |
33,453,770 |
|
|
|
Orphan Drugs & Healthy Royalties |
|
|
| |
2,025,000 |
|
InterMune (a) |
|
18,326,250 |
| |
|
|
Drugs for Pulmonary Fibrosis & Hepatitis C |
|
|
| |
730,000 |
|
Alnylam Pharmaceuticals (a) |
|
17,790,100 |
| |
|
|
Biotech Developing Drugs for Rare Diseases |
|
|
| |
3,610,890 |
|
Ultragenyx (a)(d)(e) |
|
11,988,155 |
| |
|
|
Biotech Focused On Ultra-Orphan Drugs |
|
|
| |
2,798,416 |
|
Chelsea Therapeutics International (a)(b) |
|
5,708,769 |
| |
|
|
Biotech Focused on Rare Diseases |
|
|
| |
406,343 |
|
Coronado Biosciences (a) |
|
3,949,654 |
| |
|
|
Development-stage Biotech |
|
|
| |
359,944 |
|
MicroDose Therapeutx (a)(d)(e) |
|
28,795 |
| |
|
|
Drug Inhaler Development |
|
|
| |
|
|
|
|
740,464,677 |
| |
|
|
> Medical Supplies 2.5% |
|
|
| |
5,670,000 |
|
Cepheid (a)(c) |
|
217,557,900 |
| |
|
|
Molecular Diagnostics |
|
|
| |
950,000 |
|
Henry Schein (a) |
|
87,922,500 |
| |
|
|
Largest Distributor of Healthcare Products |
|
|
| |
1,950,000 |
|
DENTSPLY International |
|
82,719,000 |
| |
|
|
Leading Dental Supplies Manufacturer |
|
|
| |
1,676,000 |
|
Patterson Companies |
|
63,755,040 |
| |
|
|
Dental/Vet/Med Distributor |
|
|
| |
375,000 |
|
Techne |
|
25,443,750 |
| |
|
|
Cytokines, Antibodies & Other Reagents for Life Science |
|
|
| |
|
|
|
|
477,398,190 |
| |
|
|
> Medical Equipment & Devices 1.0% |
|
|
| |
1,025,000 |
|
Sirona Dental Systems (a) |
|
75,573,250 |
| |
|
|
Manufacturer of Dental Equipment |
|
|
| |
1,475,000 |
|
PerkinElmer |
|
49,619,000 |
| |
|
|
Analytical Instruments for Life Sciences |
|
|
| |
1,100,000 |
|
Haemonetics (a) |
|
45,826,000 |
| |
|
|
Blood & Plasma Collection Equipment |
|
|
| |
725,000 |
|
Orthofix International (a) |
|
26,005,750 |
| |
|
|
Bone Fixation & Stimulation Devices |
|
|
| |
|
|
|
|
197,024,000 |
| |
|
|
> Health Care Services 0.6% |
|
|
| |
665,000 |
|
Mednax (a) |
|
59,603,950 |
| |
|
|
Physician Management for Pediatric & Anesthesia Practices |
|
|
| |
1,875,000 |
|
Health Management Associates (a) |
|
24,131,250 |
| |
|
|
Non-urban Hospitals |
|
|
| |
825,000 |
|
HealthSouth (a) |
|
21,755,250 |
| |
|
|
Inpatient Rehabalitation Facilities |
|
|
| |
|
|
|
|
105,490,450 |
| |
|
|
> Pharmaceuticals 0.3% |
|
|
| |
4,000,000 |
|
Akorn (a) |
|
55,320,000 |
| |
|
|
Develops, Manufactures & Sells Specialty Generic Drugs |
|
|
| |
2,040,000 |
|
Alimera Sciences (a)(b)(c) |
|
6,262,800 |
| |
|
|
Ophthalmology-focused Pharmaceutical Company |
|
|
| |
|
|
|
|
61,582,800 |
| |
Health Care: Total |
|
1,581,960,117 |
| |||
|
|
|
| |||
Other Industries 6.9% |
|
|
| |||
|
|
> Real Estate 4.7% |
|
|
| |
3,625,000 |
|
Dupont Fabros Technology (c) |
|
87,978,750 |
| |
|
|
Data Centers |
|
|
| |
750,000 |
|
Federal Realty |
|
81,030,000 |
| |
|
|
Shopping Centers |
|
|
| |
1,850,000 |
|
Extra Space Storage |
|
72,649,500 |
| |
|
|
Self Storage Facilities |
|
|
| |
1,435,000 |
|
Post Properties |
|
67,588,500 |
| |
|
|
Multifamily Properties |
|
|
| |
5,744,300 |
|
EdR (c) |
|
60,487,479 |
| |
|
|
Student Housing |
|
|
| |
3,000,000 |
|
Associated Estates Realty (c) |
|
55,920,000 |
| |
|
|
Multifamily Properties |
|
|
| |
2,450,000 |
|
Biomed Realty Trust |
|
52,920,000 |
| |
|
|
Life Science-focused Office Buildings |
|
|
| |
50,000,000 |
|
Mapletree Logistics Trust (Singapore) |
|
49,015,399 |
| |
|
|
Industrial Property Landlord |
|
|
| |
22,000,000 |
|
Ascendas REIT (Singapore) |
|
46,228,397 |
| |
|
|
Industrial Property Landlord |
|
|
| |
558,886 |
|
Digital Realty Trust |
|
37,395,062 |
| |
|
|
Data Centers |
|
|
| |
325,000 |
|
Jones Lang LaSalle |
|
32,308,250 |
| |
|
|
Real Estate Services |
|
|
| |
1,500,000 |
|
St. Joe (a)(b) |
|
31,875,000 |
| |
|
|
Florida Panhandle Landowner |
|
|
| |
2,850,000 |
|
Summit Hotel Properties |
|
29,839,500 |
| |
|
|
Owner of Select Service Hotels |
|
|
| |
1,300,000 |
|
Hudson Pacific Properties |
|
28,275,000 |
| |
|
|
West Coast Office Buildings & Production Studios |
|
|
| |
3,750,000 |
|
DCT Industrial Trust |
|
27,750,000 |
| |
|
|
Industrial Properties |
|
|
| |
4,000,000 |
|
Kite Realty Group (c) |
|
26,960,000 |
| |
|
|
Community Shopping Centers |
|
|
| |
24,664,000 |
|
Mapletree Greater China Commercial Trust (Hong Kong) (a) |
|
20,680,098 |
| |
|
|
Retail & Office Property Landlord |
|
|
| |
14,000 |
|
Orix JREIT (Japan) |
|
19,769,718 |
| |
|
|
Diversified REIT |
|
|
| |
11,655,000 |
|
CDL Hospitality Trust (Singapore) |
|
19,295,365 |
| |
|
|
Hotel Owner/Operator |
|
|
| |
786,000 |
|
Terreno Realty |
|
14,132,280 |
| |
|
|
Industrial Properties |
|
|
| |
10,000,000 |
|
Mapletree Industrial Trust (Singapore) |
|
11,327,448 |
| |
|
|
Industrial Property Landlord |
|
|
| |
317,440 |
|
Coresite Realty |
|
11,104,051 |
| |
|
|
Data Centers |
|
|
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Real Estatecontinued |
|
|
| |
10,000,000 |
|
Mapletree Commercial Trust (Singapore) |
|
$ |
10,851,107 |
|
|
|
Retail & Office Property Landlord |
|
|
| |
|
|
|
|
895,380,904 |
| |
|
|
> Transportation 1.4% |
|
|
| |
3,100,000 |
|
Rush Enterprises, Class A (a)(c) |
|
74,772,000 |
| |
550,000 |
|
Rush Enterprises, Class B (a)(c) |
|
11,330,000 |
| |
|
|
Truck Sales & Service |
|
|
| |
1,155,000 |
|
JB Hunt Transport Services |
|
86,024,400 |
| |
|
|
Truck & Intermodal Carrier |
|
|
| |
602,000 |
|
Kirby (a) |
|
46,233,600 |
| |
|
|
Largest Operator of U.S. (Jones Act) Liquid Tank Barges |
|
|
| |
300,000 |
|
Genesee & Wyoming (a) |
|
27,933,000 |
| |
|
|
Short-line Operator |
|
|
| |
627,000 |
|
World Fuel Services |
|
24,904,440 |
| |
|
|
Global Fuel Broker |
|
|
| |
|
|
|
|
271,197,440 |
| |
|
|
> Regulated Utilities 0.8% |
|
|
| |
2,000,000 |
|
Northeast Utilities |
|
86,920,000 |
| |
|
|
Regulated Electric Utility |
|
|
| |
2,200,000 |
|
Pepco Holdings |
|
47,080,000 |
| |
|
|
Regulated Utility |
|
|
| |
700,000 |
|
Wisconsin Energy |
|
30,023,000 |
| |
|
|
Wisconsin Utility |
|
|
| |
|
|
|
|
164,023,000 |
| |
Other Industries: Total |
|
1,330,601,344 |
| |||
|
|
|
| |||
Energy & Minerals 6.5% |
|
|
| |||
|
|
> Oil Services 3.2% |
|
|
| |
4,635,000 |
|
FMC Technologies (a) |
|
252,097,650 |
| |
|
|
Oil & Gas Well Head Manufacturer |
|
|
| |
2,193,000 |
|
Atwood Oceanics (a) |
|
115,220,220 |
| |
|
|
Offshore Drilling Contractor |
|
|
| |
1,031,106 |
|
Fugro (Netherlands) |
|
57,072,044 |
| |
|
|
Subsea Oilfield Services |
|
|
| |
1,334,000 |
|
ShawCor (Canada) |
|
56,558,921 |
| |
|
|
Oil & Gas Pipeline Products |
|
|
| |
400,000 |
|
Dresser-Rand Group (a) |
|
24,664,000 |
| |
|
|
Manufactures & Services Compressors |
|
|
| |
684,000 |
|
Rowan (a) |
|
24,186,240 |
| |
|
|
Contract Offshore Driller |
|
|
| |
499,000 |
|
Hornbeck Offshore (a) |
|
23,183,540 |
| |
|
|
Supply Vessel Operator in U.S. Gulf of Mexico |
|
|
| |
268,000 |
|
Chart Industries (a) |
|
21,442,680 |
| |
|
|
Manufacturer of Natural Gas Processing/Storage Equipment |
|
|
| |
2,601,900 |
|
Horizon North Logistics (Canada) |
|
14,625,042 |
| |
|
|
Provides Diversified Oil Service Offering in Northern Canada |
|
|
| |
596,600 |
|
Black Diamond Group (Canada) |
|
12,362,485 |
| |
|
|
Provides Accommodations/Equipment for Oil Sands Development |
|
|
| |
300,000 |
|
Gulfmark Offshore |
|
11,688,000 |
| |
|
|
Operator of Offshore Supply Vessels |
|
|
| |
119,000 |
|
Oil States International (a) |
|
9,706,830 |
| |
|
|
Diversified North American Oil Service Provider |
|
|
| |
4,025,000 |
|
Tuscany International Drilling (Colombia) (a) |
|
515,086 |
| |
|
|
South America Based Drilling Rig Contractor |
|
|
| |
|
|
|
|
623,322,738 |
| |
|
|
> Oil & Gas Producers 2.1% |
|
|
| |
2,700,000 |
|
Pacific Rubiales Energy (Colombia) |
|
56,984,791 |
| |
|
|
Oil Production & Exploration in Colombia |
|
|
| |
695,000 |
|
Range Resources |
|
56,322,800 |
| |
|
|
Oil & Gas Producer |
|
|
| |
1,153,600 |
|
Rosetta Resources (a) |
|
54,888,288 |
| |
|
|
Oil & Gas Producer Exploring in Texas |
|
|
| |
590,000 |
|
SM Energy |
|
34,939,800 |
| |
|
|
Oil & Gas Producer |
|
|
| |
443,000 |
|
Cabot Oil and Gas |
|
29,951,230 |
| |
|
|
Large Natural Gas Producer in Appalachia & Gulf Coast |
|
|
| |
3,095,000 |
|
Athabasca Oil Sands (Canada) (a) |
|
27,694,591 |
| |
|
|
Oil Sands & Unconventional Oil Development |
|
|
| |
1,477,000 |
|
Denbury Resources (a) |
|
27,546,050 |
| |
|
|
Oil Producer Using Co2 Injection |
|
|
| |
1,159,000 |
|
Laredo Petroleum (a) |
|
21,198,110 |
| |
|
|
Permian Basin Oil Producer |
|
|
| |
340,000 |
|
PDC Energy (a) |
|
16,853,800 |
| |
|
|
Oil & Gas Producer in U.S. |
|
|
| |
850,000 |
|
Tullow Oil (United Kingdom) |
|
15,898,762 |
| |
|
|
Oil & Gas Producer |
|
|
| |
361,000 |
|
Baytex (Canada) |
|
15,127,991 |
| |
|
|
Oil & Gas Producer in Canada |
|
|
| |
27,000,000 |
|
Shamaran Petroleum (Iraq) (a) |
|
8,770,980 |
| |
|
|
Oil Exploration & Production in Kurdistan |
|
|
| |
24,774,500 |
|
Petroamerica Oil (Colombia) (a)(b) |
|
8,657,723 |
| |
|
|
Oil Exploration & Production in Colombia |
|
|
| |
26,000,000 |
|
Petrodorado Energy (Colombia) (a)(c) |
|
4,606,979 |
| |
|
|
Oil & Gas Exploration & Production in Colombia, Peru & Paraguay |
|
|
| |
37,500,000 |
|
Petromanas (Canada) (a)(c) |
|
3,876,064 |
| |
|
|
Exploring for Oil in Albania |
|
|
| |
493,000 |
|
Crew Energy (Canada) (a) |
|
3,479,658 |
| |
|
|
Canadian Oil & Gas Producer |
|
|
| |
1,198,100 |
|
Pan Orient (Canada) |
|
3,184,397 |
| |
|
|
Asian Oil & Gas Explorer |
|
|
| |
8,400,000 |
|
Canadian Overseas Petroleum (United Kingdom) (a)(e) |
|
1,905,163 |
| |
4,200,000 |
|
Canadian Overseas Petroleum - Warrants (United Kingdom) (a)(d)(e) |
|
119,813 |
| |
|
|
Oil & Gas Exploration/Production in the North Sea |
|
|
| |
511,600 |
|
Canacol (Colombia) (a) |
|
1,677,047 |
| |
|
|
Oil Producer in South America |
|
|
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Oil & Gas Producerscontinued |
|
|
| |
4,110,000 |
|
Santa Maria Petroleum (Colombia) (a)(c)(e) |
|
$ |
271,883 |
|
890,000 |
|
Santa Maria Petroleum (Colombia) (a)(c) |
|
61,328 |
| |
|
|
Explores for Oil & Gas in Latin America |
|
|
| |
50,000,000 |
|
Gulf United Energy (Colombia) (a)(c) |
|
125,000 |
| |
|
|
Prospecting for Oil Alongside Large Producers in Colombia |
|
|
| |
|
|
|
|
394,142,248 |
| |
|
|
> Mining 1.1% |
|
|
| |
387,000 |
|
Core Labs (Netherlands) |
|
53,375,040 |
| |
|
|
Oil & Gas Reservoir Consulting |
|
|
| |
1,000,000 |
|
Silver Wheaton (Canada) |
|
31,350,000 |
| |
|
|
Silver Mining Royalty Company |
|
|
| |
1,600,000 |
|
Alamos Gold (Canada) |
|
21,971,748 |
| |
|
|
Gold Mining |
|
|
| |
4,432,000 |
|
Northam Platinum (South Africa) (a) |
|
19,134,819 |
| |
|
|
Platinum Mining in South Africa |
|
|
| |
1,150,000 |
|
Allied Nevada Gold (a) |
|
18,929,000 |
| |
|
|
Gold & Silver Mining |
|
|
| |
3,524,000 |
|
Regis Resources (Australia) (a) |
|
15,289,706 |
| |
|
|
Gold Mining in Australia |
|
|
| |
7,500,000 |
|
Duluth Metals (Canada) (a)(c) |
|
14,322,981 |
| |
|
|
Copper & Nickel Miner |
|
|
| |
1,900,000 |
|
Kirkland Lake Gold (Canada) (a)(b) |
|
10,062,509 |
| |
|
|
Gold Mining |
|
|
| |
1,150,000 |
|
Turquoise Hill Resources (Mongolia) (a) |
|
7,324,408 |
| |
|
|
Copper Mine Project in Mongolia |
|
|
| |
2,050,000 |
|
Alexco Resource (a) |
|
6,806,000 |
| |
|
|
Mining, Exploration & Environmental Services |
|
|
| |
16,000,000 |
|
Mongolian Mining (Mongolia) (a) |
|
5,881,746 |
| |
|
|
Coking Coal Mining in Mongolia |
|
|
| |
3,000,000 |
|
Kaminak Gold (a) |
|
3,455,234 |
| |
|
|
Exploration Stage Canadian Gold Miner |
|
|
| |
800,000 |
|
Augusta Resource (a)(b) |
|
2,048,000 |
| |
|
|
U.S. Copper/Moly Mine |
|
|
| |
1,000,000 |
|
Wolverine Minerals (Canada) (a)(e) |
|
80,327 |
| |
|
|
Gold Mining |
|
|
| |
500,000 |
|
Duluth Exploration - Special Warrants (Canada) (a)(d)(e)(f) |
|
|
| |
|
|
Copper & Nickel Miner |
|
|
| |
|
|
|
|
210,031,518 |
| |
|
|
> Agricultural Commodities 0.1% |
|
|
| |
1,306,818 |
|
Union Agriculture Group (Uruguay) (a)(d)(e) |
|
13,355,680 |
| |
|
|
Farmland Operator in Uruguay |
|
|
| |
|
|
|
|
|
| |
|
|
> Alternative Energy % |
|
|
| |
2,000,000 |
|
GT Advanced Technologies (a)(b) |
|
6,580,000 |
| |
|
|
Largest Manufacturer of Furnaces & Reactors to Produce & Cast Polysilicon |
|
|
| |
1,210,300 |
|
Synthesis Energy Systems (China) (a) |
|
1,258,712 |
| |
|
|
Owner/Operator of Gasification Plants |
|
|
| |
|
|
|
|
7,838,712 |
| |
Energy & Minerals: Total |
|
1,248,690,896 |
| |||
|
|
|
| |||
Total Equities: 96.1% |
|
18,401,204,278 |
(g) | |||
|
|
|
| |||
Short-Term Investments: 3.7% |
|
|
| |||
439,904,873 |
|
J.P. Morgan U.S. Government Money Market Fund - Agency Shares (7 day yield of 0.01%) |
|
439,904,873 |
| |
272,118,648 |
|
J.P. Morgan U.S. Government Money Market Fund - Capital Shares (7 day yield of 0.01%) |
|
272,118,648 |
| |
Total Short-Term Investments: 3.7% |
|
712,023,521 |
| |||
|
|
|
| |||
Securities Lending Collateral: 2.3% |
|
|
| |||
441,355,278 |
|
Dreyfus Government Cash Management Fund - Institutional Shares (7 day yield of 0.01%) (h) |
|
441,355,278 |
| |
Total Securities Lending Collateral: 2.3% |
|
441,355,278 |
| |||
|
|
|
| |||
Total Investments: 102.1% |
|
19,554,583,077 |
(j) | |||
Obligation to Return Collateral for Securities Loaned: (2.3)% |
|
(441,355,278 |
) | |||
Cash and Other Assets Less Liabilities: 0.2% |
|
38,253,346 |
| |||
Net Assets: 100.0% |
|
$ |
19,151,481,145 |
|
ADR - American Depositary Receipts
REIT - Real Estate Investment Trust
> Notes to Statement of Investments
(a) Non-income producing security.
(b) All or a portion of this security was on loan at March 31, 2013. The total market value of securities on loan at March 31, 2013 was $432,348,448.
(c) An affiliated person of the Fund may include any company in which the Fund owns five percent or more of its outstanding voting shares. Holdings and transactions in these affiliated companies during the period ended March 31, 2013, are as follows:
Security |
|
Balance of |
|
Purchases/ |
|
Sales/ |
|
Balance of |
|
Value |
|
Dividend |
| ||
Acorn Energy |
|
1,512,352 |
|
8,605 |
|
|
|
1,520,957 |
|
$ |
11,179,034 |
|
$ |
52,932 |
|
AFC Enterprises |
|
2,000,000 |
|
|
|
|
|
2,000,000 |
|
72,660,000 |
|
|
| ||
Alimera Sciences |
|
2,040,000 |
|
|
|
|
|
2,040,000 |
|
6,262,800 |
|
|
| ||
Associated Estates Realty |
|
3,000,000 |
|
|
|
|
|
3,000,000 |
|
55,920,000 |
|
570,000 |
| ||
Bally Technologies |
|
3,725,000 |
|
|
|
|
|
3,725,000 |
|
193,588,250 |
|
|
| ||
Boingo Wireless |
|
1,900,000 |
|
|
|
|
|
1,900,000 |
|
10,488,000 |
|
|
| ||
CAI International |
|
1,397,834 |
|
2,166 |
|
|
|
1,400,000 |
|
40,348,000 |
|
|
| ||
Cavco Industries |
|
460,000 |
|
|
|
|
|
460,000 |
|
21,882,200 |
|
|
| ||
Cepheid |
|
4,970,000 |
|
700,000 |
|
|
|
5,670,000 |
|
217,557,900 |
|
|
| ||
Chelsea Therapeutics International (1) |
|
4,949,000 |
|
|
|
2,150,584 |
|
2,798,416 |
|
5,708,769 |
|
|
| ||
Donaldson |
|
8,400,000 |
|
|
|
|
|
8,400,000 |
|
303,996,000 |
|
840,000 |
| ||
Drew Industries |
|
1,880,000 |
|
|
|
|
|
1,880,000 |
|
68,262,800 |
|
|
| ||
Duluth Metals |
|
7,500,000 |
|
|
|
|
|
7,500,000 |
|
14,322,981 |
|
|
| ||
Dupont Fabros Technology |
|
3,625,000 |
|
|
|
|
|
3,625,000 |
|
87,978,750 |
|
|
| ||
EdR |
|
5,744,300 |
|
|
|
|
|
5,744,300 |
|
60,487,479 |
|
574,430 |
| ||
ESCO Technologies |
|
2,200,000 |
|
|
|
|
|
2,200,000 |
|
89,892,000 |
|
176,000 |
| ||
Exa |
|
872,060 |
|
127,940 |
|
|
|
1,000,000 |
|
9,520,000 |
|
|
| ||
ExlService Holdings (1) |
|
1,618,000 |
|
|
|
|
|
1,618,000 |
|
53,199,840 |
|
|
| ||
Forward Air |
|
1,500,000 |
|
|
|
|
|
1,500,000 |
|
55,935,000 |
|
150,000 |
| ||
Gaiam |
|
1,371,366 |
|
|
|
|
|
1,371,366 |
|
5,759,737 |
|
|
| ||
GLG Life Tech |
|
1,665,270 |
|
|
|
|
|
1,665,270 |
|
553,702 |
|
|
| ||
Gulf United Energy |
|
50,000,000 |
|
|
|
|
|
50,000,000 |
|
125,000 |
|
|
| ||
H & E Equipment Services |
|
3,400,000 |
|
|
|
|
|
3,400,000 |
|
69,360,000 |
|
|
| ||
Hackett Group |
|
3,849,207 |
|
|
|
|
|
3,849,207 |
|
17,590,876 |
|
|
| ||
HEICO |
|
3,063,000 |
|
|
|
|
|
3,063,000 |
|
105,091,530 |
|
|
| ||
Helen of Troy |
|
1,600,000 |
|
|
|
|
|
1,600,000 |
|
61,376,000 |
|
|
| ||
iGATE |
|
3,700,000 |
|
18,400 |
|
|
|
3,718,400 |
|
69,943,104 |
|
|
| ||
II-VI |
|
4,550,000 |
|
|
|
|
|
4,550,000 |
|
77,532,000 |
|
|
| ||
InContact |
|
2,200,000 |
|
561,147 |
|
|
|
2,761,147 |
|
22,337,679 |
|
|
| ||
Insperity |
|
1,800,000 |
|
|
|
400,000 |
|
1,400,000 |
|
39,718,000 |
|
266,733 |
| ||
IPG Photonics |
|
2,780,000 |
|
|
|
160,000 |
|
2,620,000 |
|
173,994,200 |
|
|
| ||
Kite Realty Group |
|
4,000,000 |
|
|
|
|
|
4,000,000 |
|
26,960,000 |
|
240,000 |
| ||
Knoll |
|
4,200,000 |
|
|
|
528,077 |
|
3,671,923 |
|
66,571,964 |
|
484,577 |
| ||
Lifetime Fitness |
|
2,280,000 |
|
|
|
|
|
2,280,000 |
|
97,538,400 |
|
|
| ||
Marlin Business Services |
|
1,091,000 |
|
|
|
|
|
1,091,000 |
|
25,300,290 |
|
109,100 |
| ||
MB Financial |
|
2,860,000 |
|
|
|
|
|
2,860,000 |
|
69,126,200 |
|
286,000 |
| ||
McGrath Rentcorp |
|
2,150,000 |
|
|
|
|
|
2,150,000 |
|
66,865,000 |
|
505,250 |
| ||
Mettler-Toledo International |
|
1,600,000 |
|
|
|
|
|
1,600,000 |
|
341,152,000 |
|
|
| ||
Moog |
|
3,230,000 |
|
|
|
|
|
3,230,000 |
|
148,030,900 |
|
|
| ||
Navigant Consulting |
|
3,704,600 |
|
219,500 |
|
|
|
3,924,100 |
|
51,562,674 |
|
|
| ||
Nordson |
|
3,125,000 |
|
275,000 |
|
|
|
3,400,000 |
|
224,230,000 |
|
468,750 |
| ||
NPS Pharmaceuticals (1) |
|
6,000,000 |
|
|
|
2,717,000 |
|
3,283,000 |
|
33,453,770 |
|
|
| ||
Pericom Semiconductor |
|
1,765,000 |
|
|
|
293,776 |
|
1,471,224 |
|
10,019,035 |
|
|
| ||
Petrodorado Energy |
|
26,000,000 |
|
|
|
|
|
26,000,000 |
|
4,606,979 |
|
|
| ||
Petromanas |
|
37,500,000 |
|
|
|
|
|
37,500,000 |
|
3,876,064 |
|
|
| ||
Pier 1 Imports |
|
7,185,000 |
|
|
|
|
|
7,185,000 |
|
165,255,000 |
|
359,250 |
| ||
Pinnacle Entertainment |
|
3,950,000 |
|
|
|
|
|
3,950,000 |
|
57,749,000 |
|
|
| ||
Raptor Pharmaceutical (1) |
|
3,000,000 |
|
|
|
3,000,000 |
|
|
|
|
|
|
| ||
Rush Enterprises |
|
3,650,000 |
|
|
|
|
|
3,650,000 |
|
86,102,000 |
|
|
| ||
Ryman Hospitality Properties |
|
4,520,690 |
|
|
|
|
|
4,520,690 |
|
206,821,567 |
|
2,260,345 |
| ||
Santa Maria Petroleum |
|
5,000,000 |
|
|
|
|
|
5,000,000 |
|
333,211 |
|
|
| ||
Seattle Genetics |
|
6,550,000 |
|
|
|
|
|
6,550,000 |
|
232,590,500 |
|
|
| ||
Shutterfly |
|
2,835,000 |
|
|
|
860,000 |
|
1,975,000 |
|
87,235,750 |
|
|
| ||
Simplicity Bancorp |
|
452,146 |
|
|
|
|
|
452,146 |
|
6,795,755 |
|
36,172 |
| ||
SPS Commerce |
|
900,000 |
|
|
|
|
|
900,000 |
|
38,403,000 |
|
|
| ||
Summit Hotel Properties (1) |
|
2,850,000 |
|
|
|
|
|
2,850,000 |
|
29,839,500 |
|
320,625 |
| ||
Synageva Biopharma |
|
1,165,000 |
|
221,633 |
|
|
|
1,386,633 |
|
76,153,884 |
|
|
| ||
> Notes to Statement of Investments
Security |
|
Balance of |
|
Purchases/ |
|
Sales/ |
|
Balance of |
|
Value |
|
Dividend |
| ||
Tower Group (2) |
|
3,300,000 |
|
438,900 |
|
|
|
3,738,900 |
|
$ |
68,982,705 |
|
$ |
618,750 |
|
TriCo Bancshares |
|
1,350,000 |
|
|
|
|
|
1,350,000 |
|
23,085,000 |
|
121,500 |
| ||
tw telecom |
|
9,500,000 |
|
|
|
|
|
9,500,000 |
|
239,305,000 |
|
|
| ||
Velti |
|
2,700,000 |
|
1,000,000 |
|
|
|
3,700,000 |
|
7,326,000 |
|
|
| ||
Virtusa |
|
2,125,000 |
|
|
|
|
|
2,125,000 |
|
50,490,000 |
|
|
| ||
Wolverine Minerals (1)(2) |
|
4,000,000 |
|
|
|
3,000,000 |
|
1,000,000 |
|
80,327 |
|
|
| ||
World Acceptance |
|
1,285,000 |
|
|
|
|
|
1,285,000 |
|
110,342,950 |
|
|
| ||
Total of Affiliated Transactions |
|
305,095,825 |
|
3,573,291 |
|
13,109,437 |
|
295,559,679 |
|
$ |
4,678,756,056 |
|
$ |
8,440,414 |
|
(1) At March 31, 2013, the Fund owned less than five percent of the companys outstanding voting shares.
(2) Includes the effects of a stock split.
The aggregate cost and value of these companies at March 31, 2013, were $2,527,801,611 and $4,556,473,850, respectively. Investments in affiliated companies represented 23.79% of the Funds total net assets at March 31, 2013.
(d) Illiquid security.
(e) Denotes a restricted security, which is subject to restrictions on resale under federal securities laws. These securities are valued at fair value determined in good faith under consistently applied procedures established by the Board of Trustees. At March 31, 2013, the market value of these securities amounted to $27,985,816, which represented 0.15% of total net assets. Additional information on these securities is as follows:
Security |
|
Acquisition |
|
Shares |
|
Cost |
|
Value |
| ||
Union Agriculture Group |
|
12/8/10-6/27/12 |
|
1,306,818 |
|
$ |
15,000,000 |
|
$ |
13,355,680 |
|
Ultragenyx |
|
12/19/12 |
|
3,610,890 |
|
9,999,999 |
|
11,988,155 |
| ||
Canadian Overseas Petroleum |
|
11/24/10 |
|
8,400,000 |
|
3,591,152 |
|
1,905,163 |
| ||
Santa Maria Petroleum |
|
1/14/11 |
|
4,110,000 |
|
5,193,292 |
|
271,883 |
| ||
Voyager Learning - Contingent Value Rights |
|
12/24/09 |
|
2,000,000 |
|
|
|
236,000 |
| ||
Canadian Overseas Petroleum - Warrants |
|
11/24/10 |
|
4,200,000 |
|
525,688 |
|
119,813 |
| ||
Wolverine Minerals |
|
6/3/11 |
|
1,000,000 |
|
2,004,903 |
|
80,327 |
| ||
MicroDose Therapeutx |
|
11/24/00 |
|
359,944 |
|
2,004,900 |
|
28,795 |
| ||
Duluth Exploration - Special Warrants |
|
8/19/11 |
|
500,000 |
|
|
|
|
| ||
|
|
|
|
|
|
$ |
38,319,934 |
|
$ |
27,985,816 |
|
(f) Security has no value.
(g) On March 31, 2013, the market value of foreign securities represented 7.78% of total net assets. The Funds foreign portfolio was diversified as follows:
Country |
|
Value |
|
Percentage |
| |
Canada |
|
$ |
266,111,308 |
|
1.39 |
|
Netherlands |
|
192,772,317 |
|
1.01 |
| |
Singapore |
|
187,356,068 |
|
0.98 |
| |
Hong Kong |
|
154,232,155 |
|
0.81 |
| |
Sweden |
|
132,780,323 |
|
0.69 |
| |
Brazil |
|
88,556,734 |
|
0.46 |
| |
Colombia |
|
72,899,837 |
|
0.38 |
| |
Japan |
|
59,767,195 |
|
0.31 |
| |
France |
|
38,704,780 |
|
0.20 |
| |
Chile |
|
37,317,850 |
|
0.20 |
| |
South Africa |
|
36,762,629 |
|
0.19 |
| |
Israel |
|
35,140,000 |
|
0.18 |
| |
Denmark |
|
33,956,346 |
|
0.18 |
| |
India |
|
29,480,000 |
|
0.15 |
| |
Cambodia |
|
21,131,062 |
|
0.11 |
| |
United Kingdom |
|
17,923,738 |
|
0.09 |
| |
Russia |
|
16,808,240 |
|
0.09 |
| |
Australia |
|
15,289,706 |
|
0.08 |
| |
Uruguay |
|
13,355,680 |
|
0.07 |
| |
Mongolia |
|
13,206,154 |
|
0.07 |
| |
Iceland |
|
12,529,809 |
|
0.07 |
| |
Iraq |
|
8,770,980 |
|
0.05 |
| |
China |
|
2,464,712 |
|
0.01 |
| |
Germany |
|
2,194,566 |
|
0.01 |
| |
Total Foreign Portfolio |
|
$ |
1,489,512,189 |
|
7.78 |
|
(h) Investment made with cash collateral received from securities lending activity.
(i) At March 31, 2013, for federal income tax purposes, the cost of investments was $11,599,810,832 and net unrealized appreciation was $7,954,772,245 consisting of gross unrealized appreciation of $8,499,387,009 and gross unrealized depreciation of $544,614,764.
(j) Securities are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.
> Notes to Statement of Investments
Fair Value Measurements
Various inputs are used in determining the value of the Funds investments, following the input prioritization hierarchy established by accounting principles generally accepted in the United States of America (GAAP). These inputs are summarized in the three broad levels listed below:
· Level 1 quoted prices in active markets for identical securities
· Level 2 prices determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others)
· Level 3 prices determined using significant unobservable inputs where quoted prices or observable inputs are unavailable or less reliable (including managements own assumptions about the factors market participants would use in pricing an investment)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
Examples of the types of securities in which the Fund would typically invest and how they are classified within this hierarchy are as follows. Typical Level 1 securities include exchange traded domestic equities, mutual funds whose NAVs are published each day and exchange traded foreign equities that are not statistically fair valued. Typical Level 2 securities include exchange traded foreign equities that are statistically fair valued, forward foreign currency exchange contracts and short-term investments valued at amortized cost. Additionally, securities fair valued by the Valuation Committee (the Committee) of the Funds Board of Trustees (the Board) that rely on significant observable inputs are also included in Level 2. Typical Level 3 securities include any security fair valued by the Committee that relies on significant unobservable inputs.
Under the direction of the Board, the Committee is responsible for carrying out the valuation procedures approved by the Board.
The Committee meets as necessary, and no less frequently than quarterly, to determine fair values for securities for which market quotations are not readily available or for which the investment manager believes that available market quotations are unreliable, to review the appropriateness of the Trusts Portfolio Pricing Policy and the pricing procedures of the investment manager (the Policies), and to review the continuing appropriateness of the current value of any security subject to the Policies. The Policies address, among other things: circumstances under which market quotations will be deemed readily available; selection of third party pricing vendors; appropriate pricing methodologies; events that require fair valuation and fair value techniques; and circumstances under which securities will be deemed to pose a potential for stale pricing, including when securities are illiquid, restricted, or in default. The Committee may also meet to discuss additional valuation matters, which may include review of back-testing results, review of time-sensitive information or approval of other valuation related actions, and to review the appropriateness of the Policies.
For investments categorized as Level 3, the significant unobservable inputs used in the fair value measurement of the Funds securities may include: (i) data specific to the issuer or comparable issuers, (ii) general market or specific sector news and (iii) quoted prices and specific or similar security transactions. The Committee considers this data and any changes from prior periods in order to assess the reasonableness of observable and unobservable inputs, any assumptions or internal models used to value those securities and changes in fair value. Significant changes in any of these factors could result in lower or higher fair value measurements. Various factors impact the frequency of monitoring (which may occur as often as daily), however the Committee may determine that changes to inputs, assumptions and models are not required with the same frequency.
The following table summarizes the inputs used, as of March 31, 2013, in valuing the Funds assets:
Investment Type |
|
Quoted Prices |
|
Other |
|
Significant |
|
Total |
| ||||
Equities |
|
|
|
|
|
|
|
|
| ||||
Information |
|
$ |
4,822,386,186 |
|
$ |
178,670,473 |
|
$ |
|
|
$ |
5,001,056,659 |
|
Industrial Goods & Services |
|
3,633,531,740 |
|
192,771,784 |
|
|
|
3,826,303,524 |
| ||||
Consumer Goods & Services |
|
2,994,595,431 |
|
124,529,260 |
|
236,000 |
|
3,119,360,691 |
| ||||
Finance |
|
2,293,231,047 |
|
|
|
|
|
2,293,231,047 |
| ||||
Health Care |
|
1,569,943,167 |
|
|
|
12,016,950 |
|
1,581,960,117 |
| ||||
Other Industries |
|
1,153,433,812 |
|
177,167,532 |
|
|
|
1,330,601,344 |
| ||||
Energy & Minerals |
|
1,119,680,953 |
|
115,654,263 |
|
13,355,680 |
|
1,248,690,896 |
| ||||
Total Equities |
|
17,586,802,336 |
|
788,793,312 |
|
25,608,630 |
|
18,401,204,278 |
| ||||
Total Short-Term Investments |
|
712,023,521 |
|
|
|
|
|
712,023,521 |
| ||||
Total Securities Lending Collateral |
|
441,355,278 |
|
|
|
|
|
441,355,278 |
| ||||
Total Investments |
|
$ |
18,740,181,135 |
|
$ |
788,793,312 |
|
$ |
25,608,630 |
|
$ |
19,554,583,077 |
|
The Funds assets assigned to the Level 2 input category are generally valued using a market approach, in which a securitys value is determined through its correlation to prices and information from observable market transactions for similar or identical assets. Foreign equities are generally valued at the last sale price on the foreign exchange or market on which they trade. The Fund may use a statistical fair valuation model, in accordance with the policy adopted by the Board, provided by an independent third party to value securities principally traded in foreign markets in order to adjust for possible stale pricing that may occur between the close of the foreign exchanges and the time for valuation. These models take into account available market data including intraday index, ADR, and ETF movements. Securities acquired via private placement that have a holding period or an extended settlement period are valued at a discount to the same shares that are trading freely on the market. These discounts are determined by the investment managers experience with similar securities or situations. Factors may include, but are not limited to, trade volume, shares outstanding and stock price. Warrants
> Notes to Statement of Investments
which do not trade are valued as a percentage of the actively trading common stock using a model, based on Black Scholes. Securities which have halted or temporarily stopped trading are valued at the last sale and adjusted by a premium or a discount to account for the anticipated re-opening price. These adjustments are determined by the investment managers experience with similar securities or situations.
There were no transfers of financial assets between levels 1 and 2 during the period.
The Fund does not hold any significant investments categorized as Level 3.
Certain common stock classified as Level 3 are valued at fair value, using a market approach, as determined in good faith under consistently applied procedures established by and under the general supervision of the Board. To determine fair value for these securities, for which no market exists, the Committee utilizes the valuation technique it deems most appropriate in the circumstances, using some unobservable inputs, which may include but are not limited to trades of similar securities, estimated earnings of the company, market multiples derived from a set of comparable companies, and the position of the security within the companys capital structure. Significant increases or decreases to any of these inputs could result in a significantly lower or higher fair value measurement.
Columbia Acorn International
Statement of Investments (Unaudited), March 31, 2013
Number of Shares |
|
|
|
Value |
| |
|
|
Equities: 96.2% |
|
|
| |
Asia 46.5% |
|
|
| |||
|
|
> Japan 18.6% |
|
|
| |
18,500 |
|
Wacom (a) |
|
$ |
71,729,840 |
|
|
|
Computer Graphic Illustration Devices |
|
|
| |
5,582,600 |
|
Kansai Paint |
|
62,002,474 |
| |
|
|
Paint Producer in Japan, India, China & Southeast Asia |
|
|
| |
19,233,000 |
|
Seven Bank |
|
61,928,121 |
| |
|
|
ATM Processing Services |
|
|
| |
41,878 |
|
Orix JREIT |
|
59,136,875 |
| |
|
|
Diversified REIT |
|
|
| |
2,400,000 |
|
Park24 |
|
46,986,733 |
| |
|
|
Parking Lot Operator |
|
|
| |
1,817,562 |
|
Glory |
|
43,550,077 |
| |
|
|
Currency Handling Systems & Related Equipment |
|
|
| |
2,981,100 |
|
Kuraray |
|
42,037,507 |
| |
|
|
Special Resin, Fine Chemical, Fibers & Textures |
|
|
| |
1,430,000 |
|
Hoshizaki Electric |
|
41,887,813 |
| |
|
|
Commercial Kitchen Equipment |
|
|
| |
3,287,962 |
|
Start Today (b) |
|
41,739,147 |
| |
|
|
Online Japanese Apparel Retailer |
|
|
| |
900,000 |
|
Sanrio (b) |
|
39,972,856 |
| |
|
|
Character Goods & Licensing |
|
|
| |
295,762 |
|
Nakanishi |
|
37,158,241 |
| |
|
|
Dental Tools & Machinery |
|
|
| |
7,532 |
|
Kenedix Realty Investment |
|
36,575,385 |
| |
|
|
Tokyo Mid-size Office REIT |
|
|
| |
937,651 |
|
Kintetsu World Express |
|
34,888,217 |
| |
|
|
Airfreight Logistics |
|
|
| |
720,506 |
|
Miraca Holdings |
|
34,626,427 |
| |
|
|
Outsourced Lab Testing, Diagnostic Equipment & Reagents |
|
|
| |
2,255,000 |
|
NGK Spark Plug |
|
34,584,259 |
| |
|
|
Automobile Parts |
|
|
| |
2,380,000 |
|
Japan Airport Terminal |
|
32,226,203 |
| |
|
|
Airport Terminal Operator at Haneda |
|
|
| |
1,750,000 |
|
Daiseki |
|
29,746,025 |
| |
|
|
Waste Disposal & Recycling |
|
|
| |
594,700 |
|
Itochu Techno-Science |
|
29,442,563 |
| |
|
|
IT Network Equipment Sales & Services |
|
|
| |
2,720,000 |
|
NGK Insulators |
|
29,059,101 |
| |
|
|
Ceramic Products for Auto, Power & Electronics |
|
|
| |
3,860 |
|
Mori Hills REIT Investment |
|
28,650,614 |
| |
|
|
Tokyo Centric Diversified REIT |
|
|
| |
709,500 |
|
Hamamatsu Photonics |
|
28,144,963 |
| |
|
|
Optical Sensors for Medical & Industrial Applications |
|
|
| |
1,330,000 |
|
Nabtesco |
|
27,306,709 |
| |
|
|
Machinery Components |
|
|
| |
637,300 |
|
Benesse |
|
27,122,722 |
| |
|
|
Education Service Provider |
|
|
| |
2,430 |
|
Nippon Prologis REIT (c) |
|
26,459,340 |
| |
|
|
Logistics REIT in Japan |
|
|
| |
9,503 |
|
Advance Residence Investment |
|
25,500,286 |
| |
|
|
Residential REIT |
|
|
| |
1,676,000 |
|
Doshisha |
|
25,204,852 |
| |
|
|
Wholesaler |
|
|
| |
532,000 |
|
Familymart |
|
24,316,349 |
| |
|
|
Japanese Convenience Store Operator |
|
|
| |
340,000 |
|
Rinnai |
|
24,239,530 |
| |
|
|
Gas Appliances for Household & Commercial Use |
|
|
| |
765,000 |
|
Horiba |
|
24,204,986 |
| |
|
|
Test & Measurement Instruments |
|
|
| |
1,346,080 |
|
Nihon Parkerizing |
|
23,558,031 |
| |
|
|
Metal Surface Treatment Agents & Processing Service |
|
|
| |
3,000 |
|
Global One Real Estate |
|
23,155,161 |
| |
|
|
Office REIT |
|
|
| |
345,000 |
|
FP Corporation |
|
23,087,972 |
| |
|
|
Disposable Food Trays & Containers |
|
|
| |
396,000 |
|
Disco |
|
22,594,572 |
| |
|
|
Semiconductor Dicing & Grinding Equipment |
|
|
| |
399,292 |
|
Ain Pharmaciez |
|
21,547,813 |
| |
|
|
Dispensing Pharmacy/Drugstore Operator |
|
|
| |
772,000 |
|
Misumi Group |
|
21,362,904 |
| |
|
|
Industrial Components Distributor |
|
|
| |
1,900,000 |
|
Ushio |
|
19,450,621 |
| |
|
|
Industrial Light Sources |
|
|
| |
918,500 |
|
Ariake Japan |
|
18,847,673 |
| |
|
|
Manufacturer of Soup/Sauce Extracts for Business-to-business Use |
|
|
| |
732,108 |
|
Icom |
|
18,608,740 |
| |
|
|
Two-way Radio Communication Equipment |
|
|
| |
1,885,600 |
|
Asahi Diamond Industrial |
|
18,394,444 |
| |
|
|
Consumable Diamond Tools |
|
|
| |
1,940,200 |
|
Sintokogio |
|
17,491,503 |
| |
|
|
Automated Casting Machines, Surface Treatment System & Consumables |
|
|
| |
437,100 |
|
Milbon |
|
15,403,743 |
| |
|
|
Manufacturer of Hair Products for Business-to-business Use |
|
|
| |
321,500 |
|
Santen Pharmaceutical |
|
14,869,755 |
| |
|
|
Specialty Pharma (Ophthalmic Medicine) |
|
|
| |
1,575,000 |
|
Lifenet Insurance (b)(c) |
|
14,067,768 |
| |
|
|
Online Life Insurance Company in Japan |
|
|
| |
150,900 |
|
Shimano |
|
12,351,774 |
| |
|
|
Bicycle Components & Fishing Tackle |
|
|
| |
808,000 |
|
Nippon Kayaku |
|
9,885,178 |
| |
|
|
Functional Chemicals, Pharmaceuticals & Auto Safety Systems |
|
|
| |
191,900 |
|
MonotaRO (b) |
|
9,387,297 |
| |
|
|
Online MRO (Maintenance, Repair, Operations) Goods Distributor in Japan |
|
|
| |
|
|
|
|
1,374,493,164 |
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Taiwan 6.2% |
|
|
| |
39,592,000 |
|
Far EasTone Telecom |
|
$ |
89,790,377 |
|
|
|
Taiwans Third Largest Mobile Operator |
|
|
| |
17,000,000 |
|
Taiwan Mobile |
|
57,534,421 |
| |
|
|
Taiwans Second Largest Mobile Operator |
|
|
| |
23,043,000 |
|
CTCI Corp |
|
44,518,335 |
| |
|
|
International Engineering Firm |
|
|
| |
2,270,000 |
|
St. Shine Optical |
|
44,400,906 |
| |
|
|
Worlds Leading Disposable Contact Lens OEM (Original Equipment Manufacturer) |
|
|
| |
12,488,000 |
|
Taiwan Hon Chuan |
|
32,338,541 |
| |
|
|
Beverage Packaging (Bottles, Caps, Labels) Manufacturer |
|
|
| |
6,258,000 |
|
Advantech |
|
27,186,024 |
| |
|
|
Industrial PC & Components |
|
|
| |
7,401,000 |
|
Flexium Interconnect |
|
24,671,441 |
| |
|
|
Flexible Printed Circuit for Mobile Electronics |
|
|
| |
5,429,000 |
|
Delta Electronics |
|
22,771,128 |
| |
|
|
Industrial Automation, Switching Power Supplies & Passive Components |
|
|
| |
6,173,000 |
|
Lung Yen |
|
21,430,334 |
| |
|
|
Funeral Services & Columbaria |
|
|
| |
7,587,000 |
|
Chroma Ate |
|
18,303,754 |
| |
|
|
Automatic Test Systems, Testing & Measurement Instruments |
|
|
| |
2,491,000 |
|
President Chain Store |
|
13,682,986 |
| |
|
|
Taiwans Number One Convenience Chain Store Operator |
|
|
| |
3,291,000 |
|
CHC Healthcare |
|
12,986,459 |
| |
|
|
Medical Device Distributor |
|
|
| |
3,034,000 |
|
PC Home |
|
12,520,982 |
| |
|
|
Taiwanese Internet Retail Company |
|
|
| |
2,654,713 |
|
Simplo Technology |
|
12,306,369 |
| |
|
|
Battery Packs for Notebook & Tablet PCs |
|
|
| |
743,000 |
|
Ginko International |
|
12,275,547 |
| |
|
|
Largest Contact Lens Maker in China |
|
|
| |
2,503,230 |
|
Chipbond |
|
5,684,437 |
| |
|
|
Semiconductor Back-end Packaging Services |
|
|
| |
1,406,283 |
|
Tripod Technologies |
|
3,139,981 |
| |
|
|
Printed Circuit Boards (PCB) |
|
|
| |
|
|
|
|
455,542,022 |
| |
|
|
> Hong Kong 5.3% |
|
|
| |
5,000,000 |
|
Melco Crown Entertainment - ADR (c) |
|
116,700,000 |
| |
|
|
Macau Casino Operator |
|
|
| |
22,000,000 |
|
Lifestyle International |
|
48,918,984 |
| |
|
|
Mid- to High-end Department Store Operator in Hong Kong & China |
|
|
| |
15,625,000 |
|
LOccitane International |
|
47,620,736 |
| |
|
|
Skin Care & Cosmetics Producer |
|
|
| |
8,518,000 |
|
AAC Technologies |
|
41,069,835 |
| |
|
|
Miniature Acoustic Components |
|
|
| |
47,558,000 |
|
Mapletree Greater China Commercial Trust (c) |
|
39,876,099 |
| |
|
|
Retail & Office Property Landlord |
|
|
| |
20,000,000 |
|
Melco International |
|
34,787,757 |
| |
|
|
Macau Casino Operator |
|
|
| |
30,000,000 |
|
Sa Sa International |
|
29,094,885 |
| |
|
|
Cosmetics Retailer |
|
|
| |
10,000,000 |
|
MGM China Holdings |
|
21,442,520 |
| |
|
|
Macau Casino Operator |
|
|
| |
13,767,900 |
|
Vitasoy International |
|
15,523,312 |
| |
|
|
Hong Kong Soy Food Brand |
|
|
| |
|
|
|
|
395,034,128 |
| |
|
|
> Singapore 3.5% |
|
|
| |
40,000,000 |
|
Mapletree Commercial Trust |
|
43,404,426 |
| |
|
|
Retail & Office Property Landlord |
|
|
| |
19,000,000 |
|
Ascendas REIT |
|
39,924,525 |
| |
|
|
Industrial Property Landlord |
|
|
| |
22,000,000 |
|
CDL Hospitality Trust |
|
36,421,968 |
| |
|
|
Hotel Owner/Operator |
|
|
| |
33,000,000 |
|
Mapletree Logistics Trust |
|
32,350,163 |
| |
|
|
Industrial Property Landlord |
|
|
| |
25,000,000 |
|
Mapletree Industrial Trust |
|
28,318,620 |
| |
|
|
Industrial Property Landlord |
|
|
| |
15,000,000 |
|
Goodpack Limited |
|
22,675,052 |
| |
|
|
International Bulk Container Leasing |
|
|
| |
3,500,000 |
|
Singapore Exchange |
|
21,803,802 |
| |
|
|
Singapore Equity & Derivatives Market Operator |
|
|
| |
14,000,000 |
|
Olam International (b) |
|
19,490,063 |
| |
|
|
Agriculture Supply Chain Manager |
|
|
| |
4,772,000 |
|
Petra Foods |
|
16,007,281 |
| |
|
|
Cocoa Processor & Chocolate Manufacturer |
|
|
| |
|
|
|
|
260,395,900 |
| |
|
|
> Korea 3.3% |
|
|
| |
834,580 |
|
Coway |
|
37,055,772 |
| |
|
|
Household Appliance Rental Service Provider |
|
|
| |
1,617,261 |
|
Paradise Co |
|
30,891,586 |
| |
|
|
Korean Foreigner Only Casino Operator |
|
|
| |
1,726,000 |
|
BS Financial Group |
|
23,556,219 |
| |
|
|
Regional Bank in Busan (Koreas Second Largest City) |
|
|
| |
465,540 |
|
Kepco Plant Service & Engineering |
|
23,480,728 |
| |
|
|
Power Plant & Grid Maintenance |
|
|
| |
16,200 |
|
Lotte Chilsung Beverage |
|
21,848,104 |
| |
|
|
Beverages & Liquor Manufacturer |
|
|
| |
886,204 |
|
iMarketKorea |
|
20,116,295 |
| |
|
|
Procurement, Distribution of MRO (Maintenance, Repair, Operations) Goods |
|
|
| |
74,400 |
|
KCC |
|
19,902,333 |
| |
|
|
Paint & Housing Material Manufacturer |
|
|
| |
567,600 |
|
Hite Jinro |
|
16,623,755 |
| |
|
|
Beer & Spirits Manufacturer |
|
|
| |
624,441 |
|
Handsome |
|
16,320,560 |
| |
|
|
High-end Apparel Company |
|
|
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Koreacontinued |
|
|
| |
132,000 |
|
Samsung Engineering |
|
$ |
15,304,854 |
|
|
|
Global EPC (Engineering, Procurement & Construction) Firm |
|
|
| |
66,070 |
|
Hyundai Glovis |
|
11,458,999 |
| |
|
|
Auto-related Shipping & Distribution |
|
|
| |
704,000 |
|
Nexen Tire |
|
9,491,711 |
| |
|
|
Korean Tire Manufacturer |
|
|
| |
|
|
|
|
246,050,916 |
| |
|
|
> India 2.3% |
|
|
| |
341,652 |
|
Asian Paints |
|
30,954,274 |
| |
|
|
Indias Largest Paint Company |
|
|
| |
2,262,300 |
|
United Breweries |
|
29,121,450 |
| |
|
|
Indias Largest Brewer |
|
|
| |
2,765,000 |
|
Yes Bank |
|
21,870,448 |
| |
|
|
Commercial Banking in India |
|
|
| |
6,000,000 |
|
Bharti Infratel (c) |
|
19,755,290 |
| |
|
|
Communication Towers |
|
|
| |
13,195,000 |
|
Redington India |
|
19,687,417 |
| |
|
|
Supply Chain Solutions for IT & Mobile Handsets in Emerging Markets |
|
|
| |
840,000 |
|
Colgate Palmolive India |
|
19,203,009 |
| |
|
|
Consumer Products in Oral Care |
|
|
| |
85,000 |
|
Bosch |
|
14,070,933 |
| |
|
|
Automotive Parts |
|
|
| |
1,600,000 |
|
Titan Industries |
|
7,557,320 |
| |
|
|
Jewlery, Watches, Eyeglasses |
|
|
| |
95,000 |
|
TTK Prestige |
|
5,675,960 |
| |
|
|
Branded Cooking Equipment |
|
|
| |
1,650,000 |
|
SKIL Ports and Logistics (c) |
|
3,133,865 |
| |
|
|
Indian Container Port Project |
|
|
| |
|
|
|
|
171,029,966 |
| |
|
|
> Indonesia 2.1% |
|
|
| |
60,516,300 |
|
Tower Bersama Infrastructure (c) |
|
37,723,697 |
| |
|
|
Communications Towers |
|
|
| |
31,764,600 |
|
Archipelago Resources (a)(c) |
|
27,872,871 |
| |
|
|
Gold Mining Projects in Indonesia, Vietnam & the Philippines |
|
|
| |
300,000,000 |
|
Ace Indonesia |
|
25,695,670 |
| |
|
|
Home Improvement Retailer |
|
|
| |
5,109,000 |
|
Mayora Indah |
|
14,283,067 |
| |
|
|
Consumer Branded Food Manufacturer |
|
|
| |
12,488,000 |
|
Mitra Adiperkasa |
|
11,721,271 |
| |
|
|
Operator of Department Store & Specialty Retail Stores |
|
|
| |
9,732,500 |
|
Matahari Department Store (c) |
|
11,016,979 |
| |
|
|
Largest Department Store Chain in Indonesia |
|
|
| |
38,065,000 |
|
Surya Citra Media |
|
10,892,024 |
| |
|
|
Free to Air TV in Indonesia |
|
|
| |
47,323,000 |
|
MNC Skyvision (c) |
|
10,713,723 |
| |
|
|
Largest Satellite Pay TV Operator in Indonesia |
|
|
| |
12,719,500 |
|
Indosiar Karya Media (c) |
|
1,704,340 |
| |
|
|
Free to Air TV Station in Indonesia |
|
|
| |
6,217,500 |
|
Southern Arc Minerals (a)(c) |
|
1,254,700 |
|
|
|
Gold & Copper Exploration in Indonesia |
|
|
|
|
|
|
|
152,878,342 |
|
|
|
> China 1.5% |
|
|
|
28,736,000 |
|
Want Want |
|
44,266,560 |
|
|
|
Chinese Branded Consumer Food Company |
|
|
|
22,168,300 |
|
Digital China |
|
30,068,217 |
|
|
|
IT Distribution & Systems Integration Services |
|
|
|
200,000,000 |
|
RexLot Holdings |
|
17,554,464 |
|
|
|
Lottery Equipment Supplier in China |
|
|
|
30,000,000 |
|
AMVIG Holdings |
|
11,246,304 |
|
|
|
Chinese Tobacco Packaging Material Supplier |
|
|
|
162,939 |
|
51job - ADR (c) |
|
9,680,206 |
|
|
|
Integrated Human Resource Services |
|
|
|
|
|
|
|
112,815,751 |
|
|
|
> Thailand 1.5% |
|
|
|
106,813,700 |
|
Home Product Center |
|
61,504,620 |
|
|
|
Home Improvement Retailer |
|
|
|
1,920,300 |
|
Siam Makro |
|
34,595,873 |
|
|
|
General Merchadise Wholesaler in Thailand |
|
|
|
4,548,800 |
|
Robinsons Department Store |
|
11,921,700 |
|
|
|
Mass-market Department Srore Operator in Thailand |
|
|
|
5,000,000 |
|
Samui Airport Property Fund |
|
3,073,246 |
|
|
|
Thai Airport Operator |
|
|
|
|
|
|
|
111,095,439 |
|
|
|
> Philippines 1.0% |
|
|
|
73,221,250 |
|
SM Prime Holdings |
|
34,295,154 |
|
|
|
Shopping Mall Operator |
|
|
|
19,454,700 |
|
Manila Water Company |
|
19,111,542 |
|
|
|
Water Utility Company in Philippines |
|
|
|
7,931,700 |
|
International Container Terminal Services |
|
17,888,819 |
|
|
|
Container Handling Terminals & Port Management |
|
|
|
|
|
|
|
71,295,515 |
|
|
|
> Cambodia 0.7% |
|
|
|
60,000,000 |
|
Nagacorp |
|
50,714,549 |
|
|
|
Casino/Entertainment Complex in Cambodia |
|
|
|
|
|
|
|
|
|
|
|
> Mongolia 0.5% |
|
|
|
74,865,700 |
|
Mongolian Mining (c) |
|
27,521,312 |
|
|
|
Coking Coal Mining in Mongolia |
|
|
|
1,049,943 |
|
Turquoise Hill Resources (c) |
|
6,687,140 |
|
914,678 |
|
Turquoise Hill Resources (c)(d) |
|
5,817,352 |
|
|
|
Copper Mine Project in Mongolia |
|
|
|
|
|
|
|
40,025,804 |
|
Asia: Total |
|
|
|
3,441,371,496 |
|
Number of Shares |
|
|
|
Value |
| |
Europe 29.7% |
|
|
| |||
|
|
> United Kingdom 8.0% |
|
|
| |
4,106,842 |
|
JLT Group |
|
$ |
53,103,591 |
|
|
|
International Business Insurance Broker |
|
|
| |
1,602,000 |
|
Rightmove |
|
43,352,362 |
| |
|
|
Internet Real Estate Listings |
|
|
| |
965,000 |
|
Spirax Sarco |
|
39,398,647 |
| |
|
|
Steam Systems for Manufacturing & Process Industries |
|
|
| |
4,181,000 |
|
Dominos Pizza UK & Ireland |
|
38,275,736 |
| |
|
|
Pizza Delivery in UK, Ireland & Germany |
|
|
| |
3,306,211 |
|
WH Smith (b) |
|
37,501,333 |
| |
|
|
Newsprint, Books & General Stationery Retailer |
|
|
| |
693,000 |
|
Intertek Group |
|
35,727,566 |
| |
|
|
Testing, Inspection, Certification Services |
|
|
| |
8,785,000 |
|
BBA Aviation |
|
34,372,042 |
| |
|
|
Aviation Support Services |
|
|
| |
3,565,000 |
|
Shaftesbury |
|
31,498,914 |
| |
|
|
London Prime Retail REIT |
|
|
| |
7,760,000 |
|
Elementis |
|
30,738,954 |
| |
|
|
Clay-based Additives |
|
|
| |
2,627,810 |
|
Smith & Nephew |
|
30,345,471 |
| |
|
|
Medical Equipment & Supplies |
|
|
| |
2,125,000 |
|
Telecity |
|
29,172,485 |
| |
|
|
European Data Center Provider |
|
|
| |
650,000 |
|
Croda |
|
27,091,029 |
| |
|
|
Oleochemicals & Industrial Chemicals |
|
|
| |
3,715,000 |
|
Abcam |
|
25,260,282 |
| |
|
|
Online Sales of Antibodies |
|
|
| |
617,000 |
|
Whitbread |
|
24,075,012 |
| |
|
|
The UKs Leading Hotelier & Coffee Shop |
|
|
| |
875,000 |
|
Aggreko |
|
23,692,020 |
| |
|
|
Temporary Power & Temperature Control Services |
|
|
| |
34,752,000 |
|
Cable & Wireless |
|
22,145,963 |
| |
|
|
Leading Telecom Service Supplier in the Caribbean |
|
|
| |
2,843,000 |
|
Greggs |
|
20,596,785 |
| |
|
|
Bakery |
|
|
| |
4,163,948 |
|
PureCircle (b)(c) |
|
16,095,658 |
| |
|
|
Natural Sweeteners |
|
|
| |
1,403,932 |
|
Premier Oil (c) |
|
8,291,764 |
| |
|
|
Oil & Gas Producer in Europe, Pakistan & Asia |
|
|
| |
382,581 |
|
Tullow Oil |
|
7,155,958 |
| |
|
|
Oil & Gas Producer |
|
|
| |
2,537,212 |
|
Smiths News |
|
7,132,057 |
| |
|
|
Newspaper & Magazine Distributor |
|
|
| |
1,576,984 |
|
Ocado (b)(c) |
|
3,785,914 |
| |
|
|
Leading Online Grocery Retailer |
|
|
| |
27,508 |
|
Fidessa Group |
|
812,952 |
| |
|
|
Software for Financial Trading Systems |
|
|
| |
|
|
|
|
589,622,495 |
| |
|
|
> Netherlands 3.5% |
|
|
| |
2,915,700 |
|
Aalberts Industries |
|
65,200,554 |
| |
|
|
Flow Control & Heat Treatment |
|
|
| |
1,514,545 |
|
UNIT4 (a) |
|
49,244,136 |
| |
|
|
Business Software Development |
|
|
| |
1,141,468 |
|
TKH Group |
|
29,556,471 |
| |
|
|
Dutch Industrial Conglomerate |
|
|
| |
1,043,014 |
|
Arcadis |
|
28,872,263 |
| |
|
|
Engineering Consultants |
|
|
| |
520,900 |
|
Fugro |
|
28,831,980 |
| |
|
|
Subsea Oilfield Services |
|
|
| |
2,114,073 |
|
Imtech (b) |
|
23,925,938 |
| |
|
|
Technical Installation & Maintenance |
|
|
| |
143,395 |
|
Core Labs |
|
19,777,038 |
| |
|
|
Oil & Gas Reservoir Consulting |
|
|
| |
266,124 |
|
Vopak |
|
16,043,403 |
| |
|
|
Worlds Largest Operator of Petroleum & Chemical Storage Terminals |
|
|
| |
|
|
|
|
261,451,783 |
| |
|
|
> Switzerland 3.2% |
|
|
| |
267,500 |
|
Partners Group |
|
66,022,596 |
| |
|
|
Private Markets Asset Management |
|
|
| |
240,500 |
|
Geberit |
|
59,206,626 |
| |
|
|
Plumbing Supplies |
|
|
| |
400,000 |
|
Dufry Group (c) |
|
49,636,574 |
| |
|
|
Operates Airport Duty Free & Duty Paid Shops |
|
|
| |
20,000 |
|
Sika |
|
48,583,166 |
| |
|
|
Chemicals for Construction & Industrial Applications |
|
|
| |
380,000 |
|
Zehnder |
|
16,492,152 |
| |
|
|
Radiators & Heat Recovery Ventilation Systems |
|
|
| |
|
|
|
|
239,941,114 |
| |
|
|
> France 3.1% |
|
|
| |
349,000 |
|
Eurofins Scientific |
|
73,278,539 |
| |
|
|
Food, Pharmaceuticals & Materials Screening & Testing |
|
|
| |
1,086,100 |
|
Neopost (b) |
|
65,065,315 |
| |
|
|
Postage Meter Machines |
|
|
| |
445,700 |
|
Gemalto |
|
38,878,387 |
| |
|
|
Digital Security Solutions |
|
|
| |
971,800 |
|
Saft |
|
25,038,622 |
| |
|
|
Niche Battery Manufacturer |
|
|
| |
308,400 |
|
Norbert Dentressangle |
|
23,395,202 |
| |
|
|
Leading European Logistics & Transport Group |
|
|
| |
1,831,204 |
|
Hi-Media (b)(c) |
|
4,107,828 |
| |
|
|
Online Advertiser in Europe |
|
|
| |
|
|
|
|
229,763,893 |
| |
|
|
> Germany 3.0% |
|
|
| |
2,000,000 |
|
Wirecard |
|
55,247,769 |
| |
|
|
Online Payment Processing & Risk Management |
|
|
| |
148,295 |
|
Rational |
|
44,548,075 |
| |
|
|
Commercial Ovens |
|
|
| |
2,130,000 |
|
TAG Immobilien |
|
24,381,956 |
| |
|
|
Owner of Residential Properties in Germany |
|
|
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Germanycontinued |
|
|
| |
215,000 |
|
Pfeiffer Vacuum |
|
$ |
23,715,201 |
|
|
|
Vacuum Pumps |
|
|
| |
685,000 |
|
NORMA Group |
|
21,587,296 |
| |
|
|
Clamps for Automotive & Industrial Applications |
|
|
| |
165,400 |
|
Bertrandt |
|
19,293,649 |
| |
|
|
Outsourced Engineering |
|
|
| |
475,000 |
|
Elringklinger (b) |
|
14,393,902 |
| |
|
|
Automobile Components |
|
|
| |
61,078 |
|
Dürr |
|
6,655,678 |
| |
|
|
Automotive Plant Engineering & Associated Capital Equipment |
|
|
| |
260,000 |
|
Deutsche Beteiligungs (b) |
|
6,270,686 |
| |
|
|
Private Equity Investment Management |
|
|
| |
152,654 |
|
CTS Eventim |
|
5,175,727 |
| |
|
|
Event Ticket Sales |
|
|
| |
|
|
|
|
221,269,939 |
| |
|
|
> Sweden 2.3% |
|
|
| |
3,426,522 |
|
Hexagon |
|
93,577,684 |
| |
|
|
Design, Measurement & Visualization Software & Equipment |
|
|
| |
4,150,024 |
|
Sweco (a) |
|
49,036,967 |
| |
|
|
Engineering Consultants |
|
|
| |
868,700 |
|
Unibet |
|
30,327,282 |
| |
|
|
European Online Gaming Operator |
|
|
| |
|
|
|
|
172,941,933 |
| |
|
|
> Denmark 1.6% |
|
|
| |
184,942 |
|
SimCorp (b) |
|
49,692,183 |
| |
|
|
Software for Investment Managers |
|
|
| |
1,064,013 |
|
Jyske Bank (c) |
|
36,312,442 |
| |
|
|
Danish Bank |
|
|
| |
1,049,800 |
|
Novozymes (b) |
|
35,647,372 |
| |
|
|
Industrial Enzymes |
|
|
| |
|
|
|
|
121,651,997 |
| |
|
|
> Italy 0.8% |
|
|
| |
3,658,000 |
|
Pirelli (b) |
|
38,379,548 |
| |
|
|
Global Tire Supplier |
|
|
| |
8,501,000 |
|
Geox |
|
23,668,314 |
| |
|
|
Apparel & Shoe Maker |
|
|
| |
|
|
|
|
62,047,862 |
| |
|
|
> Norway 0.8% |
|
|
| |
3,281,864 |
|
Atea |
|
36,558,709 |
| |
|
|
Leading Nordic IT Hardware/Software Reseller & Installation Company |
|
|
| |
906,000 |
|
Subsea 7 |
|
21,292,532 |
| |
|
|
Offshore Subsea Contractor |
|
|
| |
|
|
|
|
57,851,241 |
| |
|
|
> Kazakhstan 0.5% |
|
|
| |
5,143,000 |
|
Halyk Savings Bank of Kazakhstan - GDR (c) |
|
36,926,740 |
| |
|
|
Largest Retail Bank & Insurer in Kazakhstan |
|
|
| |
|
|
|
|
|
| |
|
|
> Finland 0.5% |
|
|
| |
520,664 |
|
Vacon |
|
35,039,212 |
| |
|
|
Leading Independent Manufacturer of Variable Speed Alternating Current Drives |
|
|
| |
|
|
|
|
|
| |
|
|
> Iceland 0.5% |
|
|
| |
28,312,499 |
|
Marel (e) |
|
24,185,165 |
| |
7,670,000 |
|
Marel (e) |
|
9,610,363 |
| |
|
|
Largest Manufacturer of Poultry & Fish Processing Equipment |
|
|
| |
|
|
|
|
33,795,528 |
| |
|
|
> Spain 0.5% |
|
|
| |
4,771,000 |
|
Dia |
|
33,000,372 |
| |
|
|
Leading Hard Discounter in Spain, Latin America & the Eastern Mediterranean |
|
|
| |
|
|
|
|
|
| |
|
|
> Belgium 0.4% |
|
|
| |
438,880 |
|
EVS Broadcast Equipment |
|
28,162,688 |
| |
|
|
Digital Live Mobile Production Software & Systems |
|
|
| |
|
|
|
|
|
| |
|
|
> Russia 0.4% |
|
|
| |
1,167,000 |
|
Yandex (c) |
|
26,981,040 |
| |
|
|
Search Engine for Russian & Turkish Languages |
|
|
| |
|
|
|
|
|
| |
|
|
> Portugal 0.3% |
|
|
| |
8,635,000 |
|
Redes Energéticas Nacionais |
|
24,904,758 |
| |
|
|
Portuguese Power Transmission & Gas Transportation |
|
|
| |
|
|
|
|
|
| |
|
|
> Turkey 0.3% |
|
|
| |
1,421,890 |
|
Bizim Toptan |
|
24,283,646 |
| |
|
|
Cash & Carry Stores in Turkey |
|
|
| |
Europe: Total |
|
2,199,636,241 |
| |||
|
|
|
|
|
| |
Other Countries 14.9% |
|
|
| |||
|
|
> South Africa 4.2% |
|
|
| |
1,170,188 |
|
Naspers |
|
72,900,525 |
| |
|
|
Media in Africa, China, Russia & Other Emerging Markets |
|
|
| |
13,935,448 |
|
Coronation Fund Managers |
|
72,743,848 |
| |
|
|
South African Fund Manager |
|
|
| |
19,098,300 |
|
Rand Merchant Insurance |
|
48,372,473 |
| |
|
|
Directly Sold Property & Casualty Insurance; Holdings in Other Insurers |
|
|
| |
2,230,504 |
|
Massmart Holdings |
|
46,148,944 |
| |
|
|
General Merchandise, Food & Home Improvement Stores; Wal-Mart Subsidiary |
|
|
| |
8,679,940 |
|
Northam Platinum (c) |
|
37,474,973 |
| |
|
|
Platinum Mining in South Africa |
|
|
| |
2,644,083 |
|
Mr. Price |
|
33,640,150 |
| |
|
|
South African Retailer of Apparel, Household & Sporting Goods |
|
|
| |
|
|
|
|
311,280,913 |
| |
|
|
> Canada 3.8% |
|
|
| |
1,403,772 |
|
CCL Industries |
|
82,773,975 |
| |
|
|
Largest Global Label Converter |
|
|
| |
1,084,597 |
|
ShawCor |
|
45,984,735 |
| |
|
|
Oil & Gas Pipeline Products |
|
|
| |
653,200 |
|
Onex Capital |
|
31,147,323 |
| |
|
|
Private Equity |
|
|
| |
3,047,000 |
|
CAE |
|
29,784,624 |
| |
|
|
Flight Simulator Equipment & Training Centers |
|
|
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Canadacontinued |
|
|
| |
582,942 |
|
AG Growth |
|
$ |
18,994,320 |
|
|
|
Leading Manufacturer of Augers & Grain Handling Equipment |
|
|
| |
709,576 |
|
Black Diamond Group |
|
14,703,524 |
| |
|
|
Provides Accommodations/ Equipment for Oil Sands Development |
|
|
| |
1,142,377 |
|
DeeThree Exploration (c) |
|
7,410,803 |
| |
1,130,000 |
|
DeeThree Exploration (c)(f) |
|
7,183,901 |
| |
|
|
Canadian Oil & Gas Producer |
|
|
| |
984,500 |
|
Alliance Grain Traders |
|
12,579,426 |
| |
|
|
Global Leader in Pulse Processing & Distribution |
|
|
| |
263,857 |
|
Baytex |
|
11,057,137 |
| |
|
|
Oil & Gas Producer in Canada |
|
|
| |
1,901,514 |
|
Horizon North Logistics |
|
10,688,236 |
| |
|
|
Provides Diversified Oil Service Offering in Northern Canada |
|
|
| |
1,607,306 |
|
Pan Orient |
|
4,272,015 |
| |
|
|
Asian Oil & Gas Explorer |
|
|
| |
450,000 |
|
Athabasca Oil Sands (c) |
|
4,026,677 |
| |
|
|
Oil Sands & Unconventional Oil Development |
|
|
| |
1,611,000 |
|
Americas Petrogas (c) |
|
3,060,718 |
| |
|
|
Oil & Gas Exploration in Argentina, Potash in Peru |
|
|
| |
332,700 |
|
Crew Energy (c) |
|
2,348,239 |
| |
|
|
Canadian Oil & Gas Producer |
|
|
| |
|
|
|
|
286,015,653 |
| |
|
|
> Australia 3.3% |
|
|
| |
15,714,426 |
|
Challenger Financial |
|
63,266,911 |
| |
|
|
Largest Annuity Provider |
|
|
| |
52,500,000 |
|
Commonwealth Property Office Fund |
|
60,769,025 |
| |
|
|
Australia Prime Office REIT |
|
|
| |
7,059,010 |
|
IAG |
|
42,111,681 |
| |
|
|
General Insurance Provider |
|
|
| |
2,500,000 |
|
Dominos Pizza Enterprises |
|
30,128,059 |
| |
|
|
Dominos Pizza Operator in Australia/New Zealand & France/Benelux |
|
|
| |
5,057,000 |
|
Regis Resources (c) |
|
21,940,989 |
| |
|
|
Gold Mining in Australia |
|
|
| |
6,096,515 |
|
SAI Global (b) |
|
21,416,980 |
| |
|
|
Publishing, Certification, Compliance Services |
|
|
| |
572,051 |
|
Austbrokers |
|
5,835,660 |
| |
|
|
Local Australian Small Business Insurance Broker |
|
|
| |
|
|
|
|
245,469,305 |
| |
|
|
> United States 2.8% |
|
|
| |
1,272,297 |
|
Textainer Group Holdings |
|
50,319,347 |
| |
|
|
Top International Container Leasor |
|
|
| |
952,080 |
|
Atwood Oceanics (c) |
|
50,022,283 |
| |
|
|
Offshore Drilling Contractor |
|
|
| |
1,052,900 |
|
Rowan (c) |
|
37,230,544 |
| |
|
|
Contract Offshore Driller |
|
|
| |
601,213 |
|
FMC Technologies (c) |
|
32,699,975 |
| |
|
|
Oil & Gas Well Head Manufacturer |
|
|
| |
439,500 |
|
Hornbeck Offshore (c) |
|
20,419,170 |
| |
|
|
Supply Vessel Operator in U.S. Gulf of Mexico |
|
|
| |
428,228 |
|
World Fuel Services |
|
17,009,216 |
| |
|
|
Global Fuel Broker |
|
|
| |
|
|
|
|
207,700,535 |
| |
|
|
> Israel 0.8% |
|
|
| |
3,145,527 |
|
Israel Chemicals |
|
40,760,174 |
| |
|
|
Producer of Potash, Phosphates, Bromine & Specialty Chemicals |
|
|
| |
625,000 |
|
Caesarstone (c) |
|
16,500,000 |
| |
|
|
Quartz Countertops |
|
|
| |
|
|
|
|
57,260,174 |
| |
Other Countries: Total |
|
1,107,726,580 |
| |||
|
|
|
|
|
| |
Latin America 5.1% |
|
|
| |||
|
|
> Brazil 2.9% |
|
|
| |
3,700,000 |
|
Localiza Rent A Car |
|
66,465,421 |
| |
|
|
Car Rental |
|
|
| |
41,525,340 |
|
Beadell Resources (a)(c) |
|
39,475,739 |
| |
|
|
Gold Mining in Brazil |
|
|
| |
1,800,000 |
|
Mills Estruturas e Servicos de Engenharia |
|
28,869,479 |
| |
|
|
Civil Engineering & Construction |
|
|
| |
1,800,000 |
|
Arcos Dorados (b) |
|
23,760,000 |
| |
|
|
McDonalds Master Franchise for Latin America |
|
|
| |
5,000,000 |
|
Odontoprev |
|
22,788,569 |
| |
|
|
Dental Insurance |
|
|
| |
1,200,000 |
|
Multiplus |
|
17,334,158 |
| |
|
|
Loyalty Program Operator in Brazil |
|
|
| |
955,000 |
|
Linx (c) |
|
15,009,675 |
| |
|
|
Retail Management Software in Brazil |
|
|
| |
|
|
|
|
213,703,041 |
| |
|
|
> Mexico 1.4% |
|
|
| |
430,000 |
|
Grupo Aeroportuario del Sureste - ADR |
|
58,768,100 |
| |
|
|
Mexican Airport Operator |
|
|
| |
11,945,000 |
|
Genomma Lab Internacional (c) |
|
29,215,877 |
| |
|
|
Develops, Markets & Distributes Consumer Products |
|
|
| |
6,273,000 |
|
Bolsa Mexicana de Valores |
|
17,963,560 |
| |
|
|
Mexicos Stock Exchange |
|
|
| |
|
|
|
|
105,947,537 |
| |
|
|
> Guatemala 0.3% |
|
|
| |
1,434,600 |
|
Tahoe Resources (c) |
|
25,236,307 |
| |
|
|
Silver Project in Guatemala |
|
|
| |
|
|
|
|
|
| |
|
|
> Uruguay 0.2% |
|
|
| |
1,306,818 |
|
Union Agriculture Group (c)(f)(g) |
|
13,355,680 |
| |
|
|
Farmland Operator in Uruguay |
|
|
| |
|
|
|
|
|
| |
|
|
> Colombia 0.2% |
|
|
| |
7,720,411 |
|
Isagen |
|
10,742,177 |
| |
|
|
Leading Colombian Electricity Provider |
|
|
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Chile 0.1% |
|
|
| |
8,366,013 |
|
Grupo Hites |
|
$ |
9,936,304 |
|
|
|
Mass Retailer for the Lower Income Strata |
|
|
| |
|
|
|
|
|
| |
|
|
> Argentina % |
|
|
| |
7,425,000 |
|
Madalena Ventures (c) |
|
2,558,202 |
| |
|
|
Oil & Gas Exploration in Argentina |
|
|
| |
Latin America: Total |
|
381,479,248 |
| |||
|
|
|
| |||
Total Equities: 96.2% |
|
7,130,213,565 |
(h) | |||
|
|
|
| |||
Short-Term Investments: 3.6% |
|
|
| |||
229,530,234 |
|
J.P. Morgan U.S. Government Money Market Fund - Agency Shares (7 day yield of 0.01%) |
|
229,530,234 |
| |
35,205,876 |
|
J.P. Morgan U.S. Government Money Market Fund - Capital Shares (7 day yield of 0.01%) |
|
35,205,876 |
| |
Total Short-Term Investments: 3.6% |
|
264,736,110 |
| |||
|
|
|
| |||
Securities Lending Collateral: 2.0% |
|
|
| |||
148,329,046 |
|
Dreyfus Government Cash Management Fund - Institutional Shares (7 day yield of 0.01%) (i) |
|
148,329,046 |
| |
Total Securities Lending Collateral: 2.0% |
|
148,329,046 |
| |||
|
|
|
|
|
| |
Total Investments: 101.8% |
|
7,543,278,721 |
(k) | |||
|
|
|
|
|
| |
Obligation to Return Collateral for Securities Loaned: (2.0)% |
|
(148,329,046 |
) | |||
|
|
|
|
|
| |
Cash and Other Assets Less Liabilities: 0.2% |
|
12,254,727 |
| |||
|
|
|
|
|
| |
Net Assets: 100.0% |
|
$ |
7,407,204,402 |
|
ADR - American Depositary Receipts
GDR - Global Depositary Receipts
REIT - Real Estate Investment Trust
> Notes to Statement of Investments
(a) An affiliated person of the Fund may include any company in which the Fund owns five percent or more of its outstanding voting shares. Holdings and transactions in these affiliated companies during the period ended March 31, 2013, are as follows:
Security |
|
Balance of |
|
Purchases/ |
|
Sales/ |
|
Balance of |
|
Value |
|
Dividend |
| ||
Archipelago Resources |
|
31,764,600 |
|
|
|
|
|
31,764,600 |
|
$ |
27,872,871 |
|
$ |
|
|
Beadell Resources |
|
17,793,303 |
|
23,732,037 |
|
|
|
41,525,340 |
|
39,475,739 |
|
|
| ||
Southern Arc Minerals |
|
6,217,500 |
|
|
|
|
|
6,217,500 |
|
1,254,700 |
|
|
| ||
Sweco |
|
4,150,024 |
|
|
|
|
|
4,150,024 |
|
49,036,967 |
|
|
| ||
UNIT4 |
|
1,574,145 |
|
|
|
59,600 |
|
1,514,545 |
|
49,244,136 |
|
|
| ||
Wacom |
|
21,500 |
|
|
|
3,000 |
|
18,500 |
|
71,729,840 |
|
881,792 |
| ||
Total of Affiliated Transactions |
|
61,521,072 |
|
23,732,037 |
|
62,600 |
|
85,190,509 |
|
$ |
238,614,253 |
|
$ |
881,792 |
|
(1) At March 31, 2013, the Fund owned less than five percent of the companys outstanding voting shares.
The aggregate cost and value of these companies at March 31, 2013, were $146,107,641 and $238,614,253, respectively. Investments in affiliated companies represented 3.22% of the Funds total net assets at March 31, 2013.
(b) All or a portion of this security was on loan at March 31, 2013. The total market value of securities on loan at March 31, 2013 was $140,881,914.
(c) Non-income producing security.
(d) Security is traded on a U.S. exchange.
(e) The common stock equity holdings of Marel are stated separately on the Statement of Investments due to the application of the onshore or offshore foreign currency exchange rate. The appropriate exchange rate is applied to each purchased security lot based on the applicable registration obtained from Marels regulatory governing body, the Icelandic Central Bank.
(f) Denotes a restricted security, which is subject to restrictions on resale under federal securities laws. These securities are valued at fair value determined in good faith under consistently applied procedures established by the Board of Trustees. At March 31, 2013, the market value of these securities amounted to $20,539,581, which represented 0.28% of total net assets. Additional information on these securities is as follows:
Security |
|
Acquisition |
|
Shares |
|
Cost |
|
Value |
| ||
Union Agriculture Group |
|
12/8/10-6/27/12 |
|
1,306,818 |
|
$ |
15,000,000 |
|
$ |
13,355,680 |
|
DeeThree Exploration |
|
9/7/10 |
|
1,130,000 |
|
2,950,812 |
|
7,183,901 |
| ||
|
|
|
|
|
|
$ |
17,950,812 |
|
$ |
20,539,581 |
|
> Notes to Statement of Investments
(g) Illiquid security.
(h) On March 31, 2013, the Funds total investments were denominated in currencies as follows:
Currency |
|
Value |
|
Percentage |
| |
Japanese Yen |
|
$ |
1,374,493,164 |
|
18.6 |
|
Euro |
|
875,863,469 |
|
11.8 |
| |
British Pound |
|
620,629,231 |
|
8.4 |
| |
United States Dollar |
|
535,966,691 |
|
7.2 |
| |
Taiwan Dollar |
|
455,542,023 |
|
6.2 |
| |
Hong Kong Dollar |
|
419,829,433 |
|
5.7 |
| |
Other currencies less than 5% of total net assets |
|
2,847,889,554 |
|
38.4 |
| |
Total Equities |
|
$ |
7,130,213,565 |
|
96.3 |
|
(i) Investment made with cash collateral received from securities lending activity.
(j) At March 31, 2013, for federal income tax purposes, the cost of investments was $5,717,871,579 and net unrealized appreciation was $1,825,407,142 consisting of gross unrealized appreciation of $2,072,174,504 and gross unrealized depreciation of $246,767,362.
(k) Securities are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.
Fair Value Measurements
Various inputs are used in determining the value of the Funds investments, following the input prioritization hierarchy established by accounting principles generally accepted in the United States of America (GAAP). These inputs are summarized in the three broad levels listed below:
· Level 1 - quoted prices in active markets for identical securities
· Level 2 - prices determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others)
· Level 3 - prices determined using significant unobservable inputs where quoted prices or observable inputs are unavailable or less reliable (including managements own assumptions about the factors market participants would use in pricing an investment)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
Examples of the types of securities in which the Fund would typically invest and how they are classified within this hierarchy are as follows. Typical Level 1 securities include exchange traded domestic equities, mutual funds whose NAVs are published each day and exchange traded foreign equities that are not statistically fair valued. Typical Level 2 securities include exchange traded foreign equities that are statistically fair valued, forward foreign currency exchange contracts and short-term investments valued at amortized cost. Additionally, securities fair valued by the Valuation Committee (the Committee) of the Funds Board of Trustees (the Board) that rely on significant observable inputs are also included in Level 2. Typical Level 3 securities include any security fair valued by the Committee that relies on significant unobservable inputs.
Under the direction of the Board, the Committee is responsible for carrying out the valuation procedures approved by the Board.
The Committee meets as necessary, and no less frequently than quarterly, to determine fair values for securities for which market quotations are not readily available or for which the investment manager believes that available market quotations are unreliable, to review the appropriateness of the Trusts Portfolio Pricing Policy and the pricing procedures of the investment manager (the Policies), and to review the continuing appropriateness of the current value of any security subject to the Policies. The Policies address, among other things: circumstances under which market quotations will be deemed readily available; selection of third party pricing vendors; appropriate pricing methodologies; events that require fair valuation and fair value techniques; and circumstances under which securities will be deemed to pose a potential for stale pricing, including when securities are illiquid, restricted, or in default. The Committee may also meet to discuss additional valuation matters, which may include review of back-testing results, review of time-sensitive information or approval of other valuation related actions, and to review the appropriateness of the Policies.
For investments categorized as Level 3, the significant unobservable inputs used in the fair value measurement of the Funds securities may include: (i) data specific to the issuer or comparable issuers, (ii) general market or specific sector news and (iii) quoted prices and specific or similar security transactions. The Committee considers this data and any changes from prior periods in order to assess the reasonableness of observable and unobservable inputs, any assumptions or internal models used to value those securities and changes in fair value. Significant changes in any of these factors could result in lower or higher fair value measurements. Various factors impact the frequency of monitoring (which may occur as often as daily), however the Committee may determine that changes to inputs, assumptions and models are not required with the same frequency.
> Notes to Statement of Investments
The following table summarizes the inputs used, as of March 31, 2013, in valuing the Funds assets:
Investment Type |
|
Quoted Prices |
|
Other |
|
Significant |
|
Total |
| ||||
Equities |
|
|
|
|
|
|
|
|
| ||||
Asia |
|
$ |
140,139,398 |
|
$ |
3,301,232,098 |
|
$ |
|
|
$ |
3,441,371,496 |
|
Europe |
|
46,758,078 |
|
2,152,878,163 |
|
|
|
2,199,636,241 |
| ||||
Other Countries |
|
503,032,287 |
|
604,694,293 |
|
|
|
1,107,726,580 |
| ||||
Latin America |
|
328,647,829 |
|
39,475,739 |
|
13,355,680 |
|
381,479,248 |
| ||||
Total Equities |
|
1,018,577,592 |
|
6,098,280,293 |
|
13,355,680 |
|
7,130,213,565 |
| ||||
Total Short-Term Investments |
|
264,736,110 |
|
|
|
|
|
264,736,110 |
| ||||
Total Securities Lending Collateral |
|
148,329,046 |
|
|
|
|
|
148,329,046 |
| ||||
Total Investments |
|
$ |
1,431,642,748 |
|
$ |
6,098,280,293 |
|
$ |
13,355,680 |
|
$ |
7,543,278,721 |
|
The Funds assets assigned to the Level 2 input category are generally valued using a market approach, in which a securitys value is determined through its correlation to prices and information from observable market transactions for similar or identical assets. Foreign equities are generally valued at the last sale price on the foreign exchange or market on which they trade. The Fund may use a statistical fair valuation model, in accordance with the policy adopted by the Board, provided by an independent third party to value securities principally traded in foreign markets in order to adjust for possible stale pricing that may occur between the close of the foreign exchanges and the time for valuation. These models take into account available market data including intraday index, ADR, and ETF movements. Securities acquired via private placement that have a holding period or an extended settlement period are valued at a discount to the same shares that are trading freely on the market. These discounts are determined by the investment managers experience with similar securities or situations. Factors may include, but are not limited to, trade volume, shares outstanding and stock price.
There were no transfers of financial assets between levels 1 and 2 during the period.
Quantitative information pertaining to Level 3 unobservable fair value measurements
|
|
Fair Value at |
|
Valuation Technique(s) |
|
Unobservable Input(s) |
|
Range (Weighted |
| |
Equities |
|
$ |
13,355,680 |
|
Market comparable companies |
|
Discount for lack of marketability |
|
-5% to +2% (-10%) |
|
Certain common stock classified as Level 3 are valued at fair value, using a market approach, as determined in good faith under consistently applied procedures established by and under the general supervision of the Board. To determine fair value for these securities, for which no market exists, the Committee utilizes the valuation technique it deems most appropriate in the circumstances, using some unobservable inputs, which may include but are not limited to trades of similar securities, estimated earnings of the company, market multiples derived from a set of comparable companies, and the position of the security within the companys capital structure. Significant increases or decreases to any of these inputs could result in a significantly lower or higher fair value measurement
Columbia Acorn USA
Statement of Investments (Unaudited), March 31, 2013
Number of Shares |
|
|
|
Value |
| |
|
|
Equities: 98.2% |
|
|
| |
Information 28.2% |
|
|
| |||
|
|
> Business Software 7.2% |
|
|
| |
745,000 |
|
Informatica (a) |
|
$ |
25,680,150 |
|
|
|
Enterprise Data Integration Software |
|
|
| |
299,000 |
|
Ansys (a) |
|
24,344,580 |
| |
|
|
Simulation Software for Engineers & Designers |
|
|
| |
340,000 |
|
Micros Systems (a) |
|
15,473,400 |
| |
|
|
Information Systems for Hotels, Restaurants & Retailers |
|
|
| |
179,000 |
|
NetSuite (a) |
|
14,330,740 |
| |
|
|
End-to-end IT Systems Solutions Delivered Over the Web |
|
|
| |
290,000 |
|
SPS Commerce (a) |
|
12,374,300 |
| |
|
|
Supply Chain Management Software Delivered Via the Web |
|
|
| |
178,000 |
|
Concur Technologies (a) |
|
12,221,480 |
| |
|
|
Web-enabled Cost & Expense Management Software |
|
|
| |
158,542 |
|
RealPage (a) |
|
3,283,405 |
| |
|
|
Software for Managing Rental Properties Delivered Via the Web |
|
|
| |
310,000 |
|
Exa (a) |
|
2,951,200 |
| |
|
|
Simulation Software |
|
|
| |
160,200 |
|
InContact |
|
1,296,018 |
| |
|
|
Call Center Systems Delivered Via the Web & Telco Services |
|
|
| |
364,000 |
|
Velti (a)(b) |
|
720,720 |
| |
|
|
Mobile Marketing Software Platform |
|
|
| |
28,561 |
|
Envestnet |
|
500,103 |
| |
|
|
Technology Platform for Investment Advisors |
|
|
| |
|
|
|
|
113,176,096 |
| |
|
|
> Instrumentation 4.8% |
|
|
| |
164,000 |
|
Mettler-Toledo International (a) |
|
34,968,080 |
| |
|
|
Laboratory Equipment |
|
|
| |
504,000 |
|
IPG Photonics (b) |
|
33,470,640 |
| |
|
|
Fiber Lasers |
|
|
| |
274,000 |
|
Trimble Navigation (a) |
|
8,209,040 |
| |
|
|
GPS-based Instruments |
|
|
| |
|
|
|
|
76,647,760 |
| |
|
|
> Semiconductors & Related Equipment 3.8% |
|
|
| |
628,000 |
|
Microsemi (a) |
|
14,550,760 |
| |
|
|
Analog/Mixed Signal Semiconductors |
|
|
| |
238,000 |
|
Ultratech (a) |
|
9,408,140 |
| |
|
|
Semiconductor Equipment |
|
|
| |
1,189,000 |
|
Atmel (a) |
|
8,275,440 |
| |
|
|
Microcontrollers, Radio Frequency & Memory Semiconductors |
|
|
| |
333,000 |
|
Monolithic Power Systems |
|
8,115,210 |
| |
|
|
High Performance Analog & Mixed Signal Integrated Circuits |
|
|
| |
874,000 |
|
ON Semiconductor (a) |
|
7,236,720 |
| |
|
|
Mixed Signal & Power Management Semiconductors |
|
|
| |
978,000 |
|
TriQuint Semiconductor (a) |
|
4,938,900 |
| |
|
|
Radio Frequency Semiconductors |
|
|
| |
118,000 |
|
Semtech (a) |
|
4,176,020 |
| |
|
|
Analog Semiconductors |
|
|
| |
45,000 |
|
Hittite Microwave (a) |
|
2,725,200 |
| |
|
|
Radio Frequency, Microwave & Millimeterwave Semiconductors |
|
|
| |
|
|
|
|
59,426,390 |
| |
|
|
> Telephone & Data Services 2.2% |
|
|
| |
1,325,000 |
|
tw telecom (a) |
|
33,376,750 |
| |
|
|
Fiber Optic Telephone/Data Services |
|
|
| |
364,000 |
|
Boingo Wireless (a)(b) |
|
2,009,280 |
| |
|
|
Wholesale & Retail WiFi Networks |
|
|
| |
|
|
|
|
35,386,030 |
| |
|
|
> Computer Hardware & Related Equipment 2.1% |
|
|
| |
1,242,000 |
|
II-VI (a) |
|
21,163,680 |
| |
|
|
Laser Optics & Specialty Materials |
|
|
| |
146,000 |
|
Nice Systems - ADR (Israel) (a) |
|
5,377,180 |
| |
|
|
Audio & Video Recording Solutions |
|
|
| |
67,000 |
|
Rogers (a) |
|
3,190,540 |
| |
|
|
Printed Circuit Materials & High-performance Foams |
|
|
| |
88,000 |
|
Netgear (a) |
|
2,948,880 |
| |
|
|
Networking Products for Small Business & Home |
|
|
| |
|
|
|
|
32,680,280 |
| |
|
|
> Computer Services 2.1% |
|
|
| |
506,000 |
|
ExlService Holdings (a) |
|
16,637,280 |
| |
|
|
Business Process Outsourcing |
|
|
| |
327,000 |
|
WNS - ADR (India) (a) |
|
4,819,980 |
| |
|
|
Offshore BPO (Business Process Outsourcing) Services |
|
|
| |
175,000 |
|
Virtusa (a) |
|
4,158,000 |
| |
|
|
Offshore IT Outsourcing |
|
|
| |
582,000 |
|
RCM Technologies |
|
3,526,920 |
| |
|
|
Technology & Engineering Services |
|
|
| |
706,766 |
|
Hackett Group |
|
3,229,921 |
| |
|
|
IT Integration & Best Practice Research |
|
|
| |
|
|
|
|
32,372,101 |
| |
|
|
> Gaming Equipment & Services 2.0% |
|
|
| |
600,000 |
|
Bally Technologies (a) |
|
31,182,000 |
| |
|
|
Slot Machines & Software |
|
|
| |
|
|
|
|
|
| |
|
|
> Telecommunications Equipment 1.7% |
|
|
| |
740,000 |
|
Ixia (a) |
|
16,013,600 |
| |
|
|
Telecom Network Test Equipment |
|
|
| |
666,000 |
|
Finisar (a) |
|
8,784,540 |
| |
|
|
Optical Subsystems & Components |
|
|
| |
294,278 |
|
Infinera (a) |
|
2,059,946 |
| |
|
|
Optical Networking Equipment |
|
|
| |
|
|
|
|
26,858,086 |
| |
|
|
> Mobile Communications 1.2% |
|
|
| |
273,000 |
|
SBA Communications (a) |
|
19,661,460 |
| |
|
|
Communications Towers |
|
|
| |
|
|
|
|
|
| |
|
|
> Financial Processors 0.7% |
|
|
| |
139,000 |
|
Global Payments |
|
6,902,740 |
| |
|
|
Credit Card Processor |
|
|
| |
153,000 |
|
Liquidity Services (a)(b) |
|
4,560,930 |
| |
|
|
E-Auctions for Surplus & Salvage Goods |
|
|
| |
|
|
|
|
11,463,670 |
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Contract Manufacturing 0.3% |
|
|
| |
215,000 |
|
Plexus (a) |
|
$ |
5,226,650 |
|
|
|
Electronic Manufacturing Services |
|
|
| |
|
|
|
|
|
| |
|
|
> Business Information & Marketing Services 0.1% |
|
|
| |
155,948 |
|
RPX |
|
2,200,426 |
| |
|
|
Patent Aggregation & Defensive Patent Consulting |
|
|
| |
Information: Total |
|
446,280,949 |
| |||
|
|
|
|
|
| |
Industrial Goods & Services 19.1% |
|
|
| |||
|
|
> Machinery 14.8% |
|
|
| |
718,200 |
|
Nordson |
|
47,365,290 |
| |
|
|
Dispensing Systems for Adhesives & Coatings |
|
|
| |
984,000 |
|
Ametek |
|
42,666,240 |
| |
|
|
Aerospace/Industrial Instruments |
|
|
| |
760,000 |
|
ESCO Technologies |
|
31,053,600 |
| |
|
|
Automatic Electric Meter Readers |
|
|
| |
855,000 |
|
Donaldson |
|
30,942,450 |
| |
|
|
Industrial Air Filtration |
|
|
| |
606,000 |
|
HEICO |
|
20,791,860 |
| |
|
|
FAA Approved Aircraft Replacement Parts |
|
|
| |
436,000 |
|
Moog (a) |
|
19,981,880 |
| |
|
|
Motion Control Products for Aerospace, Defense & Industrial Markets |
|
|
| |
237,000 |
|
Toro |
|
10,911,480 |
| |
|
|
Turf Maintenance Equipment |
|
|
| |
224,000 |
|
Kennametal |
|
8,744,960 |
| |
|
|
Consumable Cutting Tools |
|
|
| |
207,000 |
|
Polypore International (a)(b) |
|
8,317,260 |
| |
|
|
Battery Separators & Filtration Media |
|
|
| |
166,963 |
|
Generac |
|
5,900,472 |
| |
|
|
Standby Power Generators |
|
|
| |
26,000 |
|
Middleby (a) |
|
3,955,900 |
| |
|
|
Manufacturer of Cooking Equipment |
|
|
| |
97,000 |
|
Dorman Products |
|
3,609,370 |
| |
|
|
Aftermarket Auto Parts Distributor |
|
|
| |
|
|
|
|
234,240,762 |
| |
|
|
> Industrial Materials & Specialty Chemicals 1.5% |
|
|
| |
539,000 |
|
Drew Industries |
|
19,571,090 |
| |
|
|
RV & Manufactured Home Components |
|
|
| |
164,000 |
|
Polyone |
|
4,003,240 |
| |
|
|
Intermediate Stage Chemicals Producer |
|
|
| |
|
|
|
|
23,574,330 |
| |
|
|
> Electrical Components 1.3% |
|
|
| |
190,000 |
|
Acuity Brands |
|
13,176,500 |
| |
|
|
Commercial Lighting Fixtures |
|
|
| |
386,000 |
|
Thermon (a) |
|
8,573,060 |
| |
|
|
Global Engineered Thermal Solutions |
|
|
| |
|
|
|
|
21,749,560 |
| |
|
|
> Other Industrial Services 0.7% |
|
|
| |
188,000 |
|
Forward Air |
|
7,010,520 |
| |
|
|
Freight Transportation Between Airports |
|
|
| |
496,643 |
|
Acorn Energy (b) |
|
3,650,326 |
| |
|
|
Frac Well Exploration/Monitoring Device, Sonar Security, Electric Grid Monitoring |
|
|
| |
|
|
|
|
10,660,846 |
| |
|
|
> Construction 0.4% |
|
|
| |
164,000 |
|
Fortune Brands Home & Security (a) |
|
6,138,520 |
| |
|
|
Home Building Supplies & Small Locks |
|
|
| |
|
|
|
|
|
| |
|
|
> Industrial Distribution 0.2% |
|
|
| |
41,000 |
|
WESCO International |
|
2,977,010 |
| |
|
|
Industrial Distributor |
|
|
| |
|
|
|
|
|
| |
|
|
> Waste Management 0.2% |
|
|
| |
82,000 |
|
Waste Connections |
|
2,950,360 |
| |
|
|
Solid Waste Management |
|
|
| |
Industrial Goods & Services: Total |
|
302,291,388 |
| |||
|
|
|
|
|
| |
Consumer Goods & Services 16.4% |
|
|
| |||
|
|
> Travel 6.4% |
|
|
| |
907,722 |
|
Ryman Hospitality Properties (b) |
|
41,528,281 |
| |
|
|
Convention Hotels |
|
|
| |
1,183,950 |
|
Avis Budget Group (a) |
|
32,949,329 |
| |
|
|
Second Largest Car Rental Company |
|
|
| |
614,000 |
|
Hertz (a) |
|
13,667,640 |
| |
|
|
Largest U.S. Rental Car Operator |
|
|
| |
173,000 |
|
Choice Hotels |
|
7,319,630 |
| |
|
|
Franchisor of Budget Hotel Brands |
|
|
| |
135,000 |
|
HomeAway (a) |
|
4,387,500 |
| |
|
|
Vacation Rental Online Marketplace |
|
|
| |
29,000 |
|
Vail Resorts |
|
1,807,280 |
| |
|
|
Ski Resort Operator & Developer |
|
|
| |
|
|
|
|
101,659,660 |
| |
|
|
> Retail 4.3% |
|
|
| |
805,000 |
|
Pier 1 Imports |
|
18,515,000 |
| |
|
|
Home Furnishing Retailer |
|
|
| |
362,500 |
|
Abercrombie & Fitch |
|
16,747,500 |
| |
|
|
Teen Apparel Retailer |
|
|
| |
198,000 |
|
lululemon athletica (a) |
|
12,345,300 |
| |
|
|
Premium Active Apparel Retailer |
|
|
| |
224,000 |
|
Shutterfly (a) |
|
9,894,080 |
| |
|
|
Internet Photo-centric Retailer |
|
|
| |
113,000 |
|
Caseys General Stores |
|
6,587,900 |
| |
|
|
Owner/Operator of Convenience Stores |
|
|
| |
351,000 |
|
Saks (a) |
|
4,025,970 |
| |
|
|
Luxury Department Store Retailer |
|
|
| |
|
|
|
|
68,115,750 |
| |
|
|
> Furniture & Textiles 2.0% |
|
|
| |
688,000 |
|
Interface |
|
13,223,360 |
| |
|
|
Modular Carpet |
|
|
| |
658,502 |
|
Knoll |
|
11,938,641 |
| |
|
|
Office Furniture |
|
|
| |
243,814 |
|
Caesarstone (Israel) (a) |
|
6,436,690 |
| |
|
|
Quartz Countertops |
|
|
| |
|
|
|
|
31,598,691 |
| |
|
|
> Consumer Goods Distribution 1.1% |
|
|
| |
358,000 |
|
Pool |
|
17,184,000 |
| |
|
|
Swimming Pool Supplies & Equipment Distributor |
|
|
| |
|
|
|
|
|
| |
|
|
> Other Consumer Services 0.6% |
|
|
| |
233,000 |
|
Lifetime Fitness (a) |
|
9,967,740 |
| |
|
|
Sport & Fitness Club Operator |
|
|
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Casinos & Gaming 0.6% |
|
|
| |
635,000 |
|
Pinnacle Entertainment (a) |
|
$ |
9,283,700 |
|
|
|
Regional Casino Operator |
|
|
| |
|
|
|
|
|
| |
|
|
> Nondurables 0.6% |
|
|
| |
238,000 |
|
Helen of Troy (a) |
|
9,129,680 |
| |
|
|
Personal Care, Housewares, Healthcare & Home Environment Products |
|
|
| |
|
|
|
|
|
| |
|
|
> Other Durable Goods 0.5% |
|
|
| |
187,000 |
|
Cavco Industries (a) |
|
8,895,590 |
| |
|
|
Manufactured Homes |
|
|
| |
|
|
|
|
|
| |
|
|
> Apparel 0.2% |
|
|
| |
475,000 |
|
Quiksilver |
|
2,883,250 |
| |
|
|
Action Sports Lifestyle Branded Apparel & Footwear |
|
|
| |
|
|
|
|
|
| |
|
|
> Food & Beverage 0.1% |
|
|
| |
136,000 |
|
Boulder Brands (a) |
|
1,221,280 |
| |
|
|
Healthy Food Products |
|
|
| |
|
|
|
|
|
| |
|
|
> Educational Services % |
|
|
| |
34,350 |
|
ITT Educational Services (a)(b) |
|
473,343 |
| |
|
|
Postsecondary Degree Services |
|
|
| |
Consumer Goods & Services: Total |
|
260,412,684 |
| |||
|
|
|
|
|
| |
Finance 13.8% |
|
|
| |||
|
|
> Banks 7.2% |
|
|
| |
801,000 |
|
MB Financial |
|
19,360,170 |
| |
|
|
Chicago Bank |
|
|
| |
993,000 |
|
Associated Banc-Corp |
|
15,083,670 |
| |
|
|
Midwest Bank |
|
|
| |
164,000 |
|
SVB Financial Group (a) |
|
11,634,160 |
| |
|
|
Bank to Venture Capitalists |
|
|
| |
392,597 |
|
Lakeland Financial |
|
10,478,414 |
| |
|
|
Indiana Bank |
|
|
| |
173,000 |
|
City National |
|
10,191,430 |
| |
|
|
Bank & Asset Manager |
|
|
| |
487,000 |
|
TCF Financial |
|
7,285,520 |
| |
|
|
Great Lakes Bank |
|
|
| |
228,000 |
|
Hancock Holding |
|
7,049,760 |
| |
|
|
Gulf Coast Bank |
|
|
| |
1,345,200 |
|
First Busey |
|
6,147,564 |
| |
|
|
Illinois Bank |
|
|
| |
566,750 |
|
Valley National Bancorp (b) |
|
5,803,520 |
| |
|
|
New Jersey/New York Bank |
|
|
| |
738,000 |
|
First Commonwealth |
|
5,505,480 |
| |
|
|
Western Pennsylvania Bank |
|
|
| |
191,000 |
|
Eagle Bancorp (a) |
|
4,180,990 |
| |
|
|
Metro Washington, D.C. Bank |
|
|
| |
695,000 |
|
TrustCo Bank |
|
3,878,100 |
| |
|
|
New York State Bank |
|
|
| |
171,826 |
|
Sandy Spring Bancorp |
|
3,453,702 |
| |
|
|
Baltimore, Washington, D.C. Bank |
|
|
| |
774,247 |
|
Guaranty Bancorp (a) |
|
1,625,919 |
| |
|
|
Colorado Bank |
|
|
| |
82,000 |
|
TriCo Bancshares |
|
1,402,200 |
| |
|
|
California Central Valley Bank |
|
|
| |
89,700 |
|
Hudson Valley |
|
1,337,427 |
| |
|
|
Metro New York City Bank |
|
|
| |
|
|
|
|
114,418,026 |
| |
|
|
> Finance Companies 4.6% |
|
|
| |
287,000 |
|
World Acceptance (a)(b) |
|
24,644,690 |
| |
|
|
Personal Loans |
|
|
| |
569,208 |
|
CAI International (a) |
|
16,404,575 |
| |
|
|
International Container Leasing |
|
|
| |
389,000 |
|
Textainer Group Holdings |
|
15,384,950 |
| |
|
|
Top International Container Leasor |
|
|
| |
315,000 |
|
McGrath Rentcorp |
|
9,796,500 |
| |
|
|
Temporary Space & IT Rentals |
|
|
| |
189,000 |
|
H & E Equipment Services |
|
3,855,600 |
| |
|
|
Heavy Equipment Leasing |
|
|
| |
91,000 |
|
Marlin Business Services |
|
2,110,290 |
| |
|
|
Small Equipment Leasing |
|
|
| |
|
|
|
|
72,196,605 |
| |
|
|
> Savings & Loans 1.1% |
|
|
| |
548,487 |
|
ViewPoint Financial |
|
11,030,074 |
| |
|
|
Texas Thrift |
|
|
| |
128,000 |
|
Berkshire Hills Bancorp |
|
3,269,120 |
| |
|
|
Northeast Thrift |
|
|
| |
157,073 |
|
Simplicity Bancorp |
|
2,360,807 |
| |
|
|
Los Angeles Savings & Loan |
|
|
| |
|
|
|
|
16,660,001 |
| |
|
|
> Insurance 0.5% |
|
|
| |
35,000 |
|
Enstar Group (a) |
|
4,350,150 |
| |
|
|
Insurance/Reinsurance & Related Services |
|
|
| |
45,000 |
|
Allied World Holdings |
|
4,172,400 |
| |
|
|
Commerical Lines Insurance/Reinsurance |
|
|
| |
|
|
|
|
8,522,550 |
| |
|
|
> Brokerage & Money Management 0.4% |
|
|
| |
139,000 |
|
SEI Investments |
|
4,010,150 |
| |
|
|
Mutual Fund Administration & Investment Management |
|
|
| |
200,000 |
|
Kennedy-Wilson Holdings |
|
3,102,000 |
| |
|
|
Global Distress Real Estate |
|
|
| |
|
|
|
|
7,112,150 |
| |
Finance: Total |
|
218,909,332 |
| |||
|
|
|
| |||
Health Care 9.3% |
|
|
| |||
|
|
> Biotechnology & Drug Delivery 5.5% |
|
|
| |
645,000 |
|
Seattle Genetics (a) |
|
22,903,950 |
| |
|
|
Antibody-based Therapies for Cancer |
|
|
| |
228,000 |
|
BioMarin Pharmaceutical (a) |
|
14,195,280 |
| |
|
|
Biotech Focused on Orphan Diseases |
|
|
| |
210,553 |
|
Synageva Biopharma (a) |
|
11,563,571 |
| |
|
|
Biotech Focused on Orphan Diseases |
|
|
| |
91,000 |
|
Onyx Pharmaceuticals (a) |
|
8,086,260 |
| |
|
|
Commercial-stage Biotech Focused on Cancer |
|
|
| |
729,000 |
|
NPS Pharmaceuticals (a) |
|
7,428,510 |
| |
|
|
Orphan Drugs & Healthy Royalties |
|
|
| |
388,000 |
|
ARIAD Pharmaceuticals (a) |
|
7,018,920 |
| |
|
|
Biotech Focused on Cancer |
|
|
| |
186,000 |
|
Sarepta Therapeutics (a)(b) |
|
6,872,700 |
| |
|
|
Biotech Focused on Rare Diseases |
|
|
| |
145,000 |
|
Alnylam Pharmaceuticals |
|
3,533,650 |
| |
|
|
Biotech Developing Drugs for Rare Diseases |
|
|
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Biotechnology & Drug Deliverycontinued |
|
|
| |
364,000 |
|
InterMune (a) |
|
$ |
3,294,200 |
|
|
|
Drugs for Pulmonary Fibrosis & Hepatitis C |
|
|
| |
419,511 |
|
Chelsea Therapeutics International (a)(b) |
|
855,803 |
| |
|
|
Biotech Focused on Rare Diseases |
|
|
| |
67,263 |
|
Coronado Biosciences |
|
653,796 |
| |
|
|
Development-stage Biotech |
|
|
| |
18,181 |
|
Metabolex (a)(c)(d) |
|
1,818 |
| |
|
|
Diabetes Drug Development |
|
|
| |
|
|
|
|
86,408,458 |
| |
|
|
> Medical Supplies 1.8% |
|
|
| |
574,600 |
|
Cepheid (a) |
|
22,047,402 |
| |
|
|
Molecular Diagnostics |
|
|
| |
87,000 |
|
Techne |
|
5,902,950 |
| |
|
|
Cytokines, Antibodies & Other Reagents for Life Science |
|
|
| |
|
|
|
|
27,950,352 |
| |
|
|
> Medical Equipment & Devices 1.0% |
|
|
| |
224,012 |
|
Sirona Dental Systems (a) |
|
16,516,405 |
| |
|
|
Manufacturer of Dental Equipment |
|
|
| |
|
|
|
|
|
| |
|
|
> Pharmaceuticals 0.5% |
|
|
| |
584,000 |
|
Akorn (a) |
|
8,076,720 |
| |
|
|
Develops, Manufactures & Sells Specialty Generic Drugs |
|
|
| |
121,180 |
|
Alimera Sciences (a)(b) |
|
372,022 |
| |
|
|
Ophthalmology-focused Pharmaceutical Company |
|
|
| |
|
|
|
|
8,448,742 |
| |
|
|
> Health Care Services 0.5% |
|
|
| |
604,900 |
|
Health Management Associates (a) |
|
7,785,063 |
| |
|
|
Non-urban Hospitals |
|
|
| |
Health Care: Total |
|
147,109,020 |
| |||
|
|
|
| |||
Other Industries 6.9% |
|
|
| |||
|
|
> Real Estate 6.1% |
|
|
| |
832,000 |
|
Extra Space Storage |
|
32,672,640 |
| |
|
|
Self Storage Facilities |
|
|
| |
496,200 |
|
Biomed Realty Trust |
|
10,717,920 |
| |
|
|
Life Science-focused Office Buildings |
|
|
| |
986,800 |
|
EdR |
|
10,391,004 |
| |
|
|
Student Housing |
|
|
| |
491,000 |
|
Associated Estates Realty |
|
9,152,240 |
| |
|
|
Multifamily Properties |
|
|
| |
356,738 |
|
Dupont Fabros Technology |
|
8,658,031 |
| |
|
|
Data Centers |
|
|
| |
1,255,000 |
|
Kite Realty Group |
|
8,458,700 |
| |
|
|
Community Shopping Centers |
|
|
| |
871,000 |
|
DCT Industrial Trust |
|
6,445,400 |
| |
|
|
Industrial Properties |
|
|
| |
91,000 |
|
Post Properties |
|
4,286,100 |
| |
|
|
Multifamily Properties |
|
|
| |
182,000 |
|
St. Joe (a)(b) |
|
3,867,500 |
| |
|
|
Florida Panhandle Landowner |
|
|
| |
42,628 |
|
Coresite Realty |
|
1,491,128 |
| |
|
|
Data Centers |
|
|
| |
|
|
|
|
96,140,663 |
| |
|
|
> Transportation 0.8% |
|
|
| |
468,091 |
|
Rush Enterprises, Class A (a) |
|
11,290,355 |
| |
105,000 |
|
Rush Enterprises, Class B (a) |
|
2,163,000 |
| |
|
|
Truck Sales & Service |
|
|
| |
|
|
|
|
13,453,355 |
| |
Other Industries: Total |
|
109,594,018 |
| |||
|
|
|
| |||
Energy & Minerals 4.5% |
|
|
| |||
|
|
> Oil Services 2.4% |
|
|
| |
660,000 |
|
Atwood Oceanics (a) |
|
34,676,400 |
| |
|
|
Offshore Drilling Contractor |
|
|
| |
74,000 |
|
Hornbeck Offshore |
|
3,438,040 |
| |
|
|
Supply Vessel Operator in U.S. Gulf of Mexico |
|
|
| |
|
|
|
|
38,114,440 |
| |
|
|
> Oil & Gas Producers 1.4% |
|
|
| |
166,000 |
|
PDC Energy (a) |
|
8,228,620 |
| |
|
|
Oil & Gas Producer in U.S. |
|
|
| |
90,000 |
|
SM Energy |
|
5,329,800 |
| |
|
|
Oil & Gas Producer |
|
|
| |
83,000 |
|
Rosetta Resources (a) |
|
3,949,140 |
| |
|
|
Oil & Gas Producer Exploring in Texas |
|
|
| |
158,000 |
|
Approach Resources (a) |
|
3,888,380 |
| |
|
|
Oil & Gas Producer in West Texas Permian |
|
|
| |
464,000 |
|
Quicksilver Resources (a)(b) |
|
1,044,000 |
| |
|
|
Natural Gas & Coal Seam Gas Producer |
|
|
| |
|
|
|
|
22,439,940 |
| |
|
|
> Mining 0.7% |
|
|
| |
70,000 |
|
Core Labs (Netherlands) |
|
9,654,400 |
| |
|
|
Oil & Gas Reservoir Consulting |
|
|
| |
546,000 |
|
Alexco Resource (a) |
|
1,812,720 |
| |
|
|
Mining, Exploration & Environmental Services |
|
|
| |
|
|
|
|
11,467,120 |
| |
Energy & Minerals: Total |
|
72,021,500 |
| |||
|
|
|
| |||
Total Equities: 98.2% |
|
1,556,618,891 |
(e)(f) | |||
|
|
|
| |||
Short-Term Investments: 1.7% |
|
|
| |||
26,910,566 |
|
J.P. Morgan U.S. Government Money Market Fund - Agency Shares (7 day yield of 0.01%) |
|
26,910,566 |
| |
Total Short-Term Investments: 1.7% |
|
26,910,566 |
| |||
Number of Shares |
|
|
|
Value |
| |
Securities Lending Collateral: 4.0% |
|
|
| |||
62,924,490 |
|
Dreyfus Government Cash Management Fund - Institutional Shares (7 day yield of 0.01%) (g) |
|
$ |
62,924,490 |
|
Total Securities Lending Collateral: 4.0% |
|
62,924,490 |
| |||
|
|
|
|
|
| |
Total Investments: 103.9% |
|
1,646,453,947 |
(i) | |||
|
|
|
|
|
| |
Obligation to Return Collateral for Securities Loaned: (4.0)% |
|
(62,924,490 |
) | |||
|
|
|
|
|
| |
Cash and Other Assets Less Liabilities: 0.1% |
|
1,265,884 |
| |||
|
|
|
|
|
| |
Net Assets: 100.0% |
|
$ |
1,584,795,341 |
|
ADR - American Depositary Receipts
> Notes to Statement of Investments
(a) Non-income producing security.
(b) All or a portion of this security was on loan at March 31, 2013. The total market value of securities on loan at March 31, 2013 was $61,666,096.
(c) Illiquid security.
(d) Denotes a restricted security, which is subject to restrictions on resale under federal securities laws. This security is valued at fair value determined in good faith under consistently applied procedures established by the Board of Trustees. At March 31, 2013, the market value of this security amounted to $1,818, which represented less than 0.01% of total net assets. Additional information on this security is as follows:
Security |
|
Acquisition |
|
Shares |
|
Cost |
|
Value |
| ||
Metabolex |
|
2/11/00 |
|
18,181 |
|
$ |
1,999,910 |
|
$ |
1,818 |
|
(e) An affiliated person of the Fund may include any company in which the Fund owns five percent or more of its outstanding voting shares. Holdings and transactions in these affiliated companies during the period ended March 31, 2013, are as follows:
Security |
|
Balance of |
|
Purchases/ |
|
Sales/ |
|
Balance of |
|
Value |
|
Dividend |
| ||
RCM Technologies (1) |
|
640,000 |
|
|
|
58,000 |
|
582,000 |
|
$ |
3,526,920 |
|
$ |
|
|
(1) At March 31, 2013, the Fund owned less than five percent of the companys outstanding voting shares.
(f) On March 31, 2013, the market value of foreign securities represented 1.66% of total net assets. The Funds foreign portfolio was diversified as follows:
Country |
|
Value |
|
Percentage |
| |
Israel |
|
$ |
11,813,870 |
|
0.75 |
|
Netherlands |
|
9,654,400 |
|
0.61 |
| |
India |
|
4,819,980 |
|
0.30 |
| |
Total Foreign Portfolio |
|
$ |
26,288,250 |
|
1.66 |
|
(g) Investment made with cash collateral received from securities lending activity.
(h) At March 31, 2013, for federal income tax purposes, the cost of investments was $1,000,250,660 and net unrealized appreciation was $646,203,287 consisting of gross unrealized appreciation of $693,222,777 and gross unrealized depreciation of $47,019,490.
(i) Securities are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.
> Notes to Statement of Investments
Fair Value Measurements
Various inputs are used in determining the value of the Funds investments, following the input prioritization hierarchy established by accounting principles generally accepted in the United States of America (GAAP). These inputs are summarized in the three broad levels listed below:
· Level 1 quoted prices in active markets for identical securities
· Level 2 prices determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others)
· Level 3 prices determined using significant unobservable inputs where quoted prices or observable inputs are unavailable or less reliable (including managements own assumptions about the factors market participants would use in pricing an investment)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
Examples of the types of securities in which the Fund would typically invest and how they are classified within this hierarchy are as follows. Typical Level 1 securities include exchange traded domestic equities, mutual funds whose NAVs are published each day and exchange traded foreign equities that are not statistically fair valued. Typical Level 2 securities include exchange traded foreign equities that are statistically fair valued, forward foreign currency exchange contracts and short-term investments valued at amortized cost. Additionally, securities fair valued by the Valuation Committee (the Committee) of the Funds Board of Trustees (the Board) that rely on significant observable inputs are also included in Level 2. Typical Level 3 securities include any security fair valued by the Committee that relies on significant unobservable inputs.
Under the direction of the Board, the Committee is responsible for carrying out the valuation procedures approved by the Board.
The Committee meets as necessary, and no less frequently than quarterly, to determine fair values for securities for which market quotations are not readily available or for which the investment manager believes that available market quotations are unreliable, to review the appropriateness of the Trusts Portfolio Pricing Policy and the pricing procedures of the investment manager (the Policies), and to review the continuing appropriateness of the current value of any security subject to the Policies. The Policies address, among other things: circumstances under which market quotations will be deemed readily available; selection of third party pricing vendors; appropriate pricing methodologies; events that require fair valuation and fair value techniques; and circumstances under which securities will be deemed to pose a potential for stale pricing, including when securities are illiquid, restricted, or in default. The Committee may also meet to discuss additional valuation matters, which may include review of back-testing results, review of time-sensitive information or approval of other valuation related actions, and to review the appropriateness of the Policies.
For investments categorized as Level 3, the significant unobservable inputs used in the fair value measurement of the Funds securities may include: (i) data specific to the issuer or comparable issuers, (ii) general market or specific sector news and (iii) quoted prices and specific or similar security transactions. The Committee considers this data and any changes from prior periods in order to assess the reasonableness of observable and unobservable inputs, any assumptions or internal models used to value those securities and changes in fair value. Significant changes in any of these factors could result in lower or higher fair value measurements. Various factors impact the frequency of monitoring (which may occur as often as daily), however the Committee may determine that changes to inputs, assumptions and models are not required with the same frequency.
The following table summarizes the inputs used, as of March 31, 2013, in valuing the Funds assets:
Investment Type |
|
Quoted Prices |
|
Other |
|
Significant |
|
Total |
| ||||
Equities |
|
|
|
|
|
|
|
|
| ||||
Information |
|
$ |
446,280,949 |
|
$ |
|
|
$ |
|
|
$ |
446,280,949 |
|
Industrial Goods & Services |
|
302,291,388 |
|
|
|
|
|
302,291,388 |
| ||||
Consumer Goods & Services |
|
260,412,684 |
|
|
|
|
|
260,412,684 |
| ||||
Finance |
|
218,909,332 |
|
|
|
|
|
218,909,332 |
| ||||
Health Care |
|
147,107,202 |
|
|
|
1,818 |
|
147,109,020 |
| ||||
Other Industries |
|
109,594,018 |
|
|
|
|
|
109,594,018 |
| ||||
Energy & Minerals |
|
72,021,500 |
|
|
|
|
|
72,021,500 |
| ||||
Total Equities |
|
1,556,617,073 |
|
|
|
1,818 |
|
1,556,618,891 |
| ||||
Total Short-Term Investments |
|
26,910,566 |
|
|
|
|
|
26,910,566 |
| ||||
Total Securities Lending Collateral |
|
62,924,490 |
|
|
|
|
|
62,924,490 |
| ||||
Total Investments |
|
$ |
1,646,452,129 |
|
$ |
|
|
$ |
1,818 |
|
$ |
1,646,453,947 |
|
There were no transfers of financial assets between levels 1 and 2 during the period.
The fund does not hold any significant investments categorized as Level 3.
Certain common stock classified as Level 3 are valued at fair value, using a market approach, as determined in good faith under consistently applied procedures established by and under the general supervision of the Board. To determine fair value for these securities, for which no market exists, the Committee utilizes the valuation technique it deems most appropriate in the circumstances, using some unobservable inputs, which may include but are not limited to trades of similar securities, estimated earnings of the company, market multiples derived from a set of comparable companies, and the position of the security within the companys capital structure. Significant increases or decreases to any of these inputs could result in a significantly lower or higher fair value measurement.
Columbia Acorn International Select
Statement of Investments (Unaudited), March 31, 2013
Number of Shares |
|
|
|
Value |
| |
|
|
Equities: 92.0% |
|
|
| |
Asia 56.7% |
|
|
| |||
|
|
> Japan 18.4% |
|
|
| |
4,520,000 |
|
Seven Bank |
|
$ |
14,553,897 |
|
|
|
ATM Processing Services |
|
|
| |
936,100 |
|
Start Today (a) |
|
11,883,354 |
| |
|
|
Online Japanese Apparel Retailer |
|
|
| |
632,000 |
|
NGK Spark Plug |
|
9,692,794 |
| |
|
|
Automobile Parts |
|
|
| |
134,000 |
|
Itochu Techno-Science |
|
6,634,107 |
| |
|
|
IT Network Equipment Sales & Services |
|
|
| |
79,000 |
|
Rinnai |
|
5,632,126 |
| |
|
|
Gas Appliances for Household & Commercial Use |
|
|
| |
440 |
|
Nippon Prologis REIT (b) |
|
4,790,992 |
| |
|
|
Logistics REIT in Japan |
|
|
| |
95,000 |
|
Familymart |
|
4,342,205 |
| |
|
|
Japanese Convenience Store Operator |
|
|
| |
210,000 |
|
Park24 |
|
4,111,339 |
| |
|
|
Parking Lot Operator |
|
|
| |
59,000 |
|
FP Corporation |
|
3,948,378 |
| |
|
|
Disposable Food Trays & Containers |
|
|
| |
2,655 |
|
Orix JREIT |
|
3,749,186 |
| |
|
|
Diversified REIT |
|
|
| |
|
|
|
|
69,338,378 |
| |
|
|
> Singapore 15.2% |
|
|
| |
11,081,000 |
|
Ascendas REIT |
|
23,284,403 |
| |
|
|
Industrial Property Landlord |
|
|
| |
13,429,001 |
|
Mapletree Industrial Trust |
|
15,211,630 |
| |
|
|
Industrial Property Landlord |
|
|
| |
11,748,000 |
|
Mapletree Logistics Trust |
|
11,516,658 |
| |
|
|
Industrial Property Landlord |
|
|
| |
2,349,000 |
|
CDL Hospitality Trust |
|
3,888,873 |
| |
|
|
Hotel Owner/Operator |
|
|
| |
3,012,000 |
|
Mapletree Commercial Trust |
|
3,268,353 |
| |
|
|
Retail & Office Property Landlord |
|
|
| |
|
|
|
|
57,169,917 |
| |
|
|
> Taiwan 11.9% |
|
|
| |
9,985,000 |
|
Far EasTone Telecom |
|
22,644,901 |
| |
|
|
Taiwans Third Largest Mobile Operator |
|
|
| |
4,242,000 |
|
Taiwan Mobile |
|
14,356,530 |
| |
|
|
Taiwans Second Largest Mobile Operator |
|
|
| |
3,947,000 |
|
CTCI Corp |
|
7,625,477 |
| |
|
|
International Engineering Firm |
|
|
| |
|
|
|
|
44,626,908 |
| |
|
|
> Korea 5.1% |
|
|
| |
157,000 |
|
Kepco Plant Service & Engineering |
|
7,918,706 |
| |
|
|
Power Plant & Grid Maintenance |
|
|
| |
88,800 |
|
Coway (b) |
|
3,942,764 |
| |
|
|
Household Appliance Rental Service Provider |
|
|
| |
51,000 |
|
Hyundai Motor |
|
3,913,754 |
| |
|
|
Global Automaker |
|
|
| |
118,360 |
|
Hite Jinro |
|
3,466,504 |
| |
|
|
Beer & Spirits Manufacturer |
|
|
| |
|
|
|
|
19,241,728 |
| |
|
|
> Indonesia 2.8% |
|
|
| |
11,903,000 |
|
Archipelago Resources (a)(b) |
|
10,444,671 |
| |
|
|
Gold Mining Projects in Indonesia, Vietnam & the Philippines |
|
|
| |
|
|
|
|
|
| |
|
|
> Hong Kong 2.2% |
|
|
| |
2,391,000 |
|
Melco International |
|
4,158,876 |
| |
|
|
Macau Casino Operator |
|
|
| |
4,932,000 |
|
Mapletree Greater China Commercial Trust (b) |
|
4,135,349 |
| |
|
|
Retail & Office Property Landlord |
|
|
| |
|
|
|
|
8,294,225 |
| |
|
|
> China 1.1% |
|
|
| |
2,770,000 |
|
Want Want |
|
4,267,065 |
| |
|
|
Chinese Branded Consumer Food Company |
|
|
| |
Asia: Total |
|
213,382,892 |
| |||
|
|
|
|
|
| |
Other Countries 16.0% |
|
|
| |||
|
|
> Australia 7.6% |
|
|
| |
3,214,907 |
|
Challenger Financial |
|
12,943,345 |
| |
|
|
Largest Annuity Provider |
|
|
| |
1,089,000 |
|
IAG |
|
6,496,608 |
| |
|
|
General Insurance Provider |
|
|
| |
1,213,715 |
|
Regis Resources (b) |
|
5,265,989 |
| |
|
|
Gold Mining in Australia |
|
|
| |
3,310,000 |
|
Commonwealth Property Office Fund |
|
3,831,342 |
| |
|
|
Australia Prime Office REIT |
|
|
| |
|
|
|
|
28,537,284 |
| |
|
|
> United States 2.9% |
|
|
| |
82,000 |
|
Atwood Oceanics (b) |
|
4,308,280 |
| |
|
|
Offshore Drilling Contractor |
|
|
| |
66,000 |
|
SM Energy |
|
3,908,520 |
| |
|
|
Oil & Gas Producer |
|
|
| |
161,000 |
|
Allied Nevada Gold (b) |
|
2,650,060 |
| |
|
|
Gold & Silver Mining |
|
|
| |
|
|
|
|
10,866,860 |
| |
|
|
> South Africa 2.8% |
|
|
| |
95,700 |
|
Naspers |
|
5,961,931 |
| |
|
|
Media in Africa, China, Russia & Other Emerging Markets |
|
|
| |
846,448 |
|
Coronation Fund Managers |
|
4,418,508 |
| |
|
|
South African Fund Manager |
|
|
| |
|
|
|
|
10,380,439 |
| |
|
|
> Canada 1.7% |
|
|
| |
91,400 |
|
CCL Industries |
|
5,389,438 |
| |
|
|
Largest Global Label Converter |
|
|
| |
21,500 |
|
Goldcorp |
|
723,045 |
| |
|
|
Gold Mining |
|
|
| |
25,180 |
|
Alamos Gold |
|
345,780 |
| |
|
|
Gold Mining |
|
|
| |
|
|
|
|
6,458,263 |
| |
|
|
> Israel 1.0% |
|
|
| |
307,000 |
|
Israel Chemicals |
|
3,978,149 |
| |
|
|
Producer of Potash, Phosphates, Bromine & Specialty Chemicals |
|
|
| |
Other Countries: Total |
|
60,220,995 |
| |||
Number of Shares |
|
|
|
Value |
| |
Europe 13.2% |
|
|
| |||
|
|
> United Kingdom 4.8% |
|
|
| |
812,116 |
|
JLT Group |
|
$ |
10,501,080 |
|
|
|
International Business Insurance Broker |
|
|
| |
74,000 |
|
Intertek Group |
|
3,815,065 |
| |
|
|
Testing, Inspection, Certification Services |
|
|
| |
314,515 |
|
Smith & Nephew |
|
3,631,962 |
| |
|
|
Medical Equipment & Supplies |
|
|
| |
|
|
|
|
17,948,107 |
| |
|
|
> Denmark 2.0% |
|
|
| |
14,400 |
|
SimCorp (a) |
|
3,869,145 |
| |
|
|
Software for Investment Managers |
|
|
| |
113,356 |
|
Jyske Bank (b) |
|
3,868,593 |
| |
|
|
Danish Bank |
|
|
| |
|
|
|
|
7,737,738 |
| |
|
|
> Switzerland 1.6% |
|
|
| |
24,000 |
|
Partners Group |
|
5,923,523 |
| |
|
|
Private Markets Asset Management |
|
|
| |
|
|
|
|
|
| |
|
|
> Iceland 1.2% |
|
|
| |
3,488,000 |
|
Marel |
|
4,370,397 |
| |
|
|
Largest Manufacturer of Poultry & Fish Processing Equipment |
|
|
| |
|
|
|
|
|
| |
|
|
> Germany 1.1% |
|
|
| |
150,000 |
|
Wirecard |
|
4,143,583 |
| |
|
|
Online Payment Processing & Risk Management |
|
|
| |
|
|
|
|
|
| |
|
|
> France 1.0% |
|
|
| |
65,000 |
|
Neopost (a) |
|
3,893,974 |
| |
|
|
Postage Meter Machines |
|
|
| |
|
|
|
|
|
| |
|
|
> Sweden 1.0% |
|
|
| |
140,000 |
|
Hexagon |
|
3,823,374 |
| |
|
|
Design, Measurement & Visualization Software & Equipment |
|
|
| |
|
|
|
|
|
| |
|
|
> Netherlands 0.5% |
|
|
| |
176,586 |
|
Imtech (a) |
|
1,998,505 |
| |
|
|
Technical Installation & Maintenance |
|
|
| |
Europe: Total |
|
49,839,201 |
| |||
|
|
|
|
|
| |
Latin America 6.1% |
|
|
| |||
|
|
> Guatemala 2.8% |
|
|
| |
588,000 |
|
Tahoe Resources (b) |
|
10,343,614 |
| |
|
|
Silver Project in Guatemala |
|
|
| |
|
|
|
|
|
| |
|
|
> Brazil 1.7% |
|
|
| |
6,667,760 |
|
Beadell Resources (b) |
|
6,338,654 |
| |
|
|
Gold Mining in Brazil |
|
|
| |
|
|
|
|
|
| |
|
|
> Mexico 1.1% |
|
|
| |
200,326 |
|
Fresnillo |
|
4,127,464 |
| |
|
|
Silver & Metal Byproduct Mining in Mexico |
|
|
| |
|
|
|
|
|
| |
|
|
> Uruguay 0.5% |
|
|
| |
191,666 |
|
Union Agriculture Group (b)(c)(d) |
|
1,958,826 |
| |
|
|
Farmland Operator in Uruguay |
|
|
| |
|
|
|
|
|
| |
|
|
> Colombia % |
|
|
| |
1,880,000 |
|
Santa Maria Petroleum (b)(c) |
|
124,365 |
| |
|
|
Explores for Oil & Gas in Latin America |
|
|
| |
Latin America: Total |
|
22,892,923 |
| |||
|
|
|
| |||
Total Equities: 92.0% |
|
346,336,011 |
(e) | |||
|
|
|
| |||
Short-Term Investments: 7.2% |
|
|
| |||
27,038,077 |
|
J.P. Morgan U.S. Government Money Market Fund - Agency Shares (7 day yield of 0.01%) |
|
27,038,077 |
| |
Total Short-Term Investments: 7.2% |
|
27,038,077 |
| |||
|
|
|
| |||
Securities Lending Collateral: 3.0% |
|
|
| |||
11,365,268 |
|
Dreyfus Government Cash Management Fund - Institutional Shares (7 day yield of 0.01%) (f) |
|
11,365,268 |
| |
|
|
|
| |||
Total Securities Lending Collateral: 3.0% |
|
11,365,268 |
| |||
|
|
|
| |||
Total Investments: 102.2% |
|
384,739,356 |
(h) | |||
|
|
|
| |||
Obligation to Return Collateral for Securities Loaned: (3.0)% |
|
(11,365,268 |
) | |||
|
|
|
| |||
Cash and Other Assets Less Liabilities: 0.8% |
|
3,020,912 |
| |||
|
|
|
| |||
Net Assets: 100.0% |
|
$ |
376,395,000 |
|
REIT - Real Estate Investment Trust
> Notes to Statement of Investments
(a) All or a portion of this security was on loan at March 31, 2013. The total market value of securities on loan at March 31, 2013 was $10,786,994.
(b) Non-income producing security.
(c) Denotes a restricted security, which is subject to restrictions on resale under federal securities laws. These securities are valued at fair value determined in good faith under consistently applied procedures established by the Board of Trustees. At March 31, 2013, the market value of these securities amounted to $2,083,191, which represented 0.55% of total net assets. Additional information on these securities is as follows:
Security |
|
Acquisition |
|
Shares |
|
Cost |
|
Value |
| ||
Union Agriculture Group |
|
12/8/10-6/27/12 |
|
191,666 |
|
$ |
2,200,000 |
|
$ |
1,958,826 |
|
Santa Maria Petroleum |
|
1/14/11 |
|
1,880,000 |
|
2,375,897 |
|
124,365 |
| ||
|
|
|
|
|
|
$ |
4,575,897 |
|
$ |
2,083,191 |
|
> Notes to Statement of Investments
(d) Illiquid security.
(e) On March 31, 2013, the Funds total investments were denominated in currencies as follows:
Currency |
|
Value |
|
Percentage |
| |
Japanese Yen |
|
$ |
69,338,378 |
|
18.4 |
|
Singapore Dollar |
|
61,305,266 |
|
16.3 |
| |
Taiwan Dollar |
|
44,626,908 |
|
11.9 |
| |
Australian Dollar |
|
34,875,938 |
|
9.3 |
| |
British Pound |
|
32,520,242 |
|
8.6 |
| |
South Korean Won |
|
19,241,728 |
|
5.1 |
| |
Other currencies less than 5% of total net assets |
|
84,427,551 |
|
22.4 |
| |
Total Equities |
|
$ |
346,336,011 |
|
92.0 |
|
(f) Investment made with cash collateral received from securities lending activity.
(g) At March 31, 2013, for federal income tax purposes, the cost of investments was $325,649,517 and net unrealized appreciation was $59,089,839 consisting of gross unrealized appreciation of $71,486,087 and gross unrealized depreciation of $12,396,248.
(h) Securities are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.
At March 31, 2013, the Fund had entered into the following forward foreign currency exchange contract:
Forward Foreign Currency |
|
Forward Foreign Currency |
|
Principal Amount in |
|
Principal |
|
Settlement Date |
|
Unrealized |
| ||
USD |
|
ZAR |
|
102,021,700 |
|
$ |
11,000,000 |
|
4/15/13 |
|
$ |
(75,534 |
) |
The counterparty for all forward foreign currency exchange contracts is State Street Bank and Trust Company.
USD - United States Dollar
ZAR - South African Rand
Fair Value Measurements
Various inputs are used in determining the value of the Funds investments, following the input prioritization hierarchy established by accounting principles generally accepted in the United States of America (GAAP). These inputs are summarized in the three broad levels listed below:
· Level 1 quoted prices in active markets for identical securities
· Level 2 prices determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others)
· Level 3 prices determined using significant unobservable inputs where quoted prices or observable inputs are unavailable or less reliable (including managements own assumptions about the factors market participants would use in pricing an investment)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
Examples of the types of securities in which the Fund would typically invest and how they are classified within this hierarchy are as follows. Typical Level 1 securities include exchange traded domestic equities, mutual funds whose NAVs are published each day and exchange traded foreign equities that are not statistically fair valued. Typical Level 2 securities include exchange traded foreign equities that are statistically fair valued, forward foreign currency exchange contracts and short-term investments valued at amortized cost. Additionally, securities fair valued by the Valuation Committee (the Committee) of the Funds Board of Trustees (the Board) that rely on significant observable inputs are also included in Level 2. Typical Level 3 securities include any security fair valued by the Committee that relies on significant unobservable inputs.
Under the direction of the Board, the Committee is responsible for carrying out the valuation procedures approved by the Board.
The Committee meets as necessary, and no less frequently than quarterly, to determine fair values for securities for which market quotations are not readily available or for which the investment manager believes that available market quotations are unreliable, to review the appropriateness of the Trusts Portfolio Pricing Policy and the pricing procedures of the investment manager (the Policies), and to review the continuing appropriateness of the current value of any security subject to the Policies. The Policies address, among other things: circumstances under which market quotations will be deemed readily available; selection of third party pricing vendors; appropriate pricing methodologies; events that require fair valuation and fair value techniques; and circumstances under which securities will be deemed to pose a potential for stale pricing, including when securities are illiquid, restricted, or in default. The Committee may also meet to discuss additional valuation matters, which may include review of back-testing results, review of time-sensitive information or approval of other valuation related actions, and to review the appropriateness of the Policies.
> Notes to Statement of Investments
For investments categorized as Level 3, the significant unobservable inputs used in the fair value measurement of the Funds securities may include: (i) data specific to the issuer or comparable issuers, (ii) general market or specific sector news and (iii) quoted prices and specific or similar security transactions. The Committee considers this data and any changes from prior periods in order to assess the reasonableness of observable and unobservable inputs, any assumptions or internal models used to value those securities and changes in fair value. Significant changes in any of these factors could result in lower or higher fair value measurements. Various factors impact the frequency of monitoring (which may occur as often as daily), however the Committee may determine that changes to inputs, assumptions and models are not required with the same frequency.
The following table summarizes the inputs used, as of March 31, 2013, in valuing the Funds assets:
Investment Type |
|
Quoted Prices |
|
Other |
|
Significant |
|
Total |
| ||||
Equities |
|
|
|
|
|
|
|
|
| ||||
Asia |
|
$ |
|
|
$ |
213,382,892 |
|
$ |
|
|
$ |
213,382,892 |
|
Other Countries |
|
17,325,123 |
|
42,895,872 |
|
|
|
60,220,995 |
| ||||
Europe |
|
|
|
49,839,201 |
|
|
|
49,839,201 |
| ||||
Latin America |
|
10,343,614 |
|
10,590,483 |
|
1,958,826 |
|
22,892,923 |
| ||||
Total Equities |
|
27,668,737 |
|
316,708,448 |
|
1,958,826 |
|
346,336,011 |
| ||||
Total Short-Term Investments |
|
27,038,077 |
|
|
|
|
|
27,038,077 |
| ||||
Total Securities Lending Collateral |
|
11,365,268 |
|
|
|
|
|
11,365,268 |
| ||||
Total Investments |
|
$ |
66,072,082 |
|
$ |
316,708,448 |
|
$ |
1,958,826 |
|
$ |
384,739,356 |
|
|
|
|
|
|
|
|
|
|
| ||||
Unrealized Depreciation on Forward Foreign Currency Exchange Contracts |
|
|
|
(75,534 |
) |
|
|
(75,534 |
) | ||||
Total |
|
$ |
66,072,082 |
|
$ |
316,632,914 |
|
$ |
1,958,826 |
|
$ |
384,663,822 |
|
The Funds assets assigned to the Level 2 input category are generally valued using a market approach, in which a securitys value is determined through its correlation to prices and information from observable market transactions for similar or identical assets. Foreign equities are generally valued at the last sale price on the foreign exchange or market on which they trade. The Fund may use a statistical fair valuation model, in accordance with the policy adopted by the Board, provided by an independent third party to value securities principally traded in foreign markets in order to adjust for possible stale pricing that may occur between the close of the foreign exchanges and the time for valuation. These models take into account available market data including intraday index, ADR, and ETF movements. Forward foreign currency exchange contracts are valued at the prevailing forward exchange rate of the underlying currencies. Securities acquired via private placement that have a holding period or an extended settlement period are valued at a discount to the same shares that are trading freely on the market. These discounts are determined by the investment managers experience with similar securities or situations. Factors may include, but are not limited to, trade volume, shares outstanding and stock price.
There were no transfers of financial assets between levels 1 and 2 during the period.
The Fund does not hold any significant investments categorized as Level 3.
Certain common stock classified as Level 3 are valued at fair value, using a market approach, as determined in good faith under consistently applied procedures established by and under the general supervision of the Board. To determine fair value for these securities, for which no market exists, the Committee utilizes the valuation technique it deems most appropriate in the circumstances, using some unobservable inputs, which may include but are not limited to trades of similar securities, estimated earnings of the company, market multiples derived from a set of comparable companies, and the position of the security within the companys capital structure. Significant increases or decreases to any of these inputs could result in a significantly lower or higher fair value measurement.
Columbia Acorn Select
Statement of Investments (Unaudited), March 31, 2013
Number of Shares |
|
|
|
Value |
| |
|
|
Equities: 98.7% |
|
|
| |
Information 23.3% |
|
|
| |||
|
|
> Mobile Communications 7.3% |
|
|
| |
488,000 |
|
Crown Castle International (a) |
|
$ |
33,984,320 |
|
|
|
Communications Towers |
|
|
| |
377,000 |
|
SBA Communications (a) |
|
27,151,540 |
| |
|
|
Communications Towers |
|
|
| |
17,458,546 |
|
Globalstar (a)(b) |
|
5,499,442 |
| |
|
|
Satellite Mobile Voice & Data Carrier |
|
|
| |
|
|
|
|
66,635,302 |
| |
|
|
> Computer Services 4.5% |
|
|
| |
2,783,000 |
|
WNS - ADR (India) (a)(c) |
|
41,021,420 |
| |
|
|
Offshore BPO (Business Process Outsourcing) Services |
|
|
| |
|
|
|
|
|
| |
|
|
> Computer Hardware & Related Equipment 3.9% |
|
|
| |
474,000 |
|
Amphenol |
|
35,384,100 |
| |
|
|
Electronic Connectors |
|
|
| |
|
|
|
|
|
| |
|
|
> Instrumentation 2.5% |
|
|
| |
107,000 |
|
Mettler-Toledo International (a) |
|
22,814,540 |
| |
|
|
Laboratory Equipment |
|
|
| |
|
|
|
|
|
| |
|
|
> Contract Manufacturing 2.4% |
|
|
| |
1,880,000 |
|
Sanmina (a) |
|
21,356,800 |
| |
|
|
Electronic Manufacturing Services |
|
|
| |
|
|
|
|
|
| |
|
|
> Telecommunications Equipment 1.6% |
|
|
| |
165,000 |
|
F5 Networks (a) |
|
14,698,200 |
| |
|
|
Internet Traffic Management Equipment |
|
|
| |
|
|
|
|
|
| |
|
|
> Business Software 0.7% |
|
|
| |
74,000 |
|
Ansys (a) |
|
6,025,080 |
| |
|
|
Simulation Software for Engineers & Designers |
|
|
| |
|
|
|
|
|
| |
|
|
> Semiconductors & Related Equipment 0.4% |
|
|
| |
575,000 |
|
Atmel (a) |
|
4,002,000 |
| |
|
|
Microcontrollers, Radio Frequency & Memory Semiconductors |
|
|
| |
Information: Total |
|
211,937,442 |
| |||
|
|
|
|
|
| |
Industrial Goods & Services 23.2% |
|
|
| |||
|
|
> Machinery 17.4% |
|
|
| |
1,270,000 |
|
Ametek |
|
55,067,200 |
| |
|
|
Aerospace/Industrial Instruments |
|
|
| |
988,000 |
|
Donaldson |
|
35,755,720 |
| |
|
|
Industrial Air Filtration |
|
|
| |
412,000 |
|
Pall |
|
28,168,440 |
| |
|
|
Life Science, Water & Industrial Filtration |
|
|
| |
615,000 |
|
Kennametal |
|
24,009,600 |
| |
|
|
Consumable Cutting Tools |
|
|
| |
240,000 |
|
Nordson |
|
15,828,000 |
| |
|
|
Dispensing Systems for Adhesives & Coatings |
|
|
| |
|
|
|
|
158,828,960 |
| |
|
|
> Outsourcing Services 2.6% |
|
|
| |
839,000 |
|
Quanta Services (a) |
|
23,978,620 |
| |
|
|
Electrical & Telecom Construction Services |
|
|
| |
|
|
|
|
|
| |
|
|
> Industrial Materials & Specialty Chemicals 1.7% |
|
|
| |
265,000 |
|
FMC Corporation |
|
15,112,950 |
| |
|
|
Niche Specialty Chemicals |
|
|
| |
|
|
|
|
|
| |
|
|
> Industrial Distribution 0.8% |
|
|
| |
74,233 |
|
Airgas |
|
7,360,944 |
| |
|
|
Industrial Gas Distributor |
|
|
| |
|
|
|
|
|
| |
|
|
> Other Industrial Services 0.7% |
|
|
| |
160,000 |
|
Forward Air |
|
5,966,400 |
| |
|
|
Freight Transportation Between Airports |
|
|
| |
Industrial Goods & Services: Total |
|
211,247,874 |
| |||
|
|
|
|
|
| |
Consumer Goods & Services 18.6% |
|
|
| |||
|
|
> Travel 12.3% |
|
|
| |
2,260,000 |
|
Hertz (a) |
|
50,307,600 |
| |
|
|
Largest U.S. Rental Car Operator |
|
|
| |
875,783 |
|
Ryman Hospitality Properties (b) |
|
40,067,072 |
| |
|
|
Convention Hotels |
|
|
| |
238,000 |
|
Vail Resorts |
|
14,832,160 |
| |
|
|
Ski Resort Operator & Developer |
|
|
| |
155,000 |
|
Choice Hotels |
|
6,558,050 |
| |
|
|
Franchisor of Budget Hotel Brands |
|
|
| |
|
|
|
|
111,764,882 |
| |
|
|
> Retail 3.6% |
|
|
| |
345,000 |
|
Abercrombie & Fitch |
|
15,939,000 |
| |
|
|
Teen Apparel Retailer |
|
|
| |
129,000 |
|
ULTA (a) |
|
10,470,930 |
| |
|
|
Specialty Beauty Product Retailer |
|
|
| |
107,000 |
|
lululemon athletica (a) |
|
6,671,450 |
| |
|
|
Premium Active Apparel Retailer |
|
|
| |
|
|
|
|
33,081,380 |
| |
|
|
> Other Consumer Services 1.2% |
|
|
| |
170,000 |
|
Lifetime Fitness (a) |
|
7,272,600 |
| |
|
|
Sport & Fitness Club Operator |
|
|
| |
1,300,000 |
|
IFM Investments (Century 21 China RE) - ADR (China) (a)(c) |
|
3,484,000 |
| |
|
|
Provide Real Estate Services in China |
|
|
| |
|
|
|
|
10,756,600 |
| |
|
|
> Casinos & Gaming 1.1% |
|
|
| |
119,425,000 |
|
RexLot Holdings (China) |
|
10,482,209 |
| |
|
|
Lottery Equipment Supplier in China |
|
|
| |
|
|
|
|
|
| |
|
|
> Educational Services 0.3% |
|
|
| |
198,000 |
|
ITT Educational Services (a)(b) |
|
2,728,440 |
| |
|
|
Postsecondary Degree Services |
|
|
| |
|
|
|
|
|
| |
|
|
> Food & Beverage 0.1% |
|
|
| |
1,500,000 |
|
GLG Life Tech (Canada) (a)(d) |
|
498,750 |
| |
|
|
Produce an All-natural Sweetener Extracted from the Stevia Plant |
|
|
| |
Consumer Goods & Services: Total |
|
169,312,261 |
| |||
|
|
|
| |||
Finance 16.9% |
|
|
| |||
|
|
> Insurance 5.1% |
|
|
| |
4,100,000 |
|
CNO Financial Group |
|
46,945,000 |
| |
|
|
Life, Long-term Care & Medical Supplement Insurance |
|
|
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Banks 4.8% |
|
|
| |
480,000 |
|
City National |
|
$ |
28,276,800 |
|
|
|
Bank & Asset Manager |
|
|
| |
1,043,000 |
|
Associated Banc-Corp |
|
15,843,170 |
| |
|
|
Midwest Bank |
|
|
| |
|
|
|
|
44,119,970 |
| |
|
|
> Credit Cards 4.8% |
|
|
| |
970,000 |
|
Discover Financial Services |
|
43,494,800 |
| |
|
|
Credit Card Company |
|
|
| |
|
|
|
|
|
| |
|
|
> Brokerage & Money Management 2.2% |
|
|
| |
687,000 |
|
SEI Investments |
|
19,819,950 |
| |
|
|
Mutual Fund Administration & Investment Management |
|
|
| |
Finance: Total |
|
154,379,720 |
| |||
|
|
|
|
|
| |
Energy & Minerals 8.5% |
|
|
| |||
|
|
> Oil & Gas Producers 5.1% |
|
|
| |
690,000 |
|
Pacific Rubiales Energy (Colombia) |
|
14,562,780 |
| |
|
|
Oil Production & Exploration in Colombia |
|
|
| |
3,600,000 |
|
Canacol (Colombia) (a) |
|
11,800,955 |
| |
|
|
Oil Producer in South America |
|
|
| |
21,700,000 |
|
Shamaran Petroleum (Iraq) (a) |
|
7,049,269 |
| |
|
|
Oil Exploration & Production in Kurdistan |
|
|
| |
33,700,000 |
|
Petrodorado Energy (Colombia) (a)(c) |
|
5,971,354 |
| |
|
|
Oil & Gas Exploration & Production in Colombia, Peru & Paraguay |
|
|
| |
24,000,000 |
|
Canadian Overseas Petroleum (United Kingdom) (a)(c)(e) |
|
5,443,323 |
| |
12,000,000 |
|
Canadian Overseas Petroleum - Warrants (United Kingdom) (a)(d)(e) |
|
342,322 |
| |
|
|
Oil & Gas Exploration/Production in the North Sea |
|
|
| |
12,000,000 |
|
Petromanas (Canada) (a) |
|
1,240,341 |
| |
|
|
Exploring for Oil in Albania |
|
|
| |
|
|
|
|
46,410,344 |
| |
|
|
> Agricultural Commodities 1.9% |
|
|
| |
1,742,424 |
|
Union Agriculture Group (Uruguay) (a)(d)(e) |
|
17,807,574 |
| |
|
|
Farmland Operator in Uruguay |
|
|
| |
|
|
|
|
|
| |
|
|
> Mining 0.9% |
|
|
| |
1,550,000 |
|
Kirkland Lake Gold (Canada) (a)(b) |
|
8,208,889 |
| |
|
|
Gold Mining |
|
|
| |
|
|
|
|
|
| |
|
|
> Alternative Energy 0.5% |
|
|
| |
1,165,000 |
|
Real Goods Solar (a)(b) |
|
2,097,000 |
| |
|
|
Residential Solar Energy Installer |
|
|
| |
2,000,000 |
|
Synthesis Energy Systems (China) (a) |
|
2,080,000 |
| |
|
|
Owner/Operator of Gasification Plants |
|
|
| |
|
|
|
|
4,177,000 |
| |
|
|
> Oil Services 0.1% |
|
|
| |
8,259,800 |
|
Tuscany International Drilling (Colombia) (a) |
|
1,057,020 |
| |
|
|
South America Based Drilling Rig Contractor |
|
|
| |
Energy & Minerals: Total |
|
77,660,827 |
| |||
|
|
|
|
|
| |
Health Care 4.8% |
|
|
| |||
|
|
> Medical Supplies 3.3% |
|
|
| |
163,000 |
|
Henry Schein (a) |
|
15,085,650 |
| |
|
|
Largest Distributor of Healthcare Products |
|
|
| |
385,000 |
|
Cepheid (a) |
|
14,772,450 |
| |
|
|
Molecular Diagnostics |
|
|
| |
|
|
|
|
29,858,100 |
| |
|
|
> Biotechnology & Drug Delivery 1.5% |
|
|
| |
388,000 |
|
Seattle Genetics (a) |
|
13,777,880 |
| |
|
|
Antibody-based Therapies for Cancer |
|
|
| |
Health Care: Total |
|
43,635,980 |
| |||
|
|
|
|
|
| |
Other Industries 3.4% |
|
|
| |||
|
|
> Real Estate 3.4% |
|
|
| |
924,000 |
|
Biomed Realty Trust |
|
19,958,400 |
| |
|
|
Life Science-focused Office Buildings |
|
|
| |
456,000 |
|
Dupont Fabros Technology |
|
11,067,120 |
| |
|
|
Data Centers |
|
|
| |
|
|
|
|
31,025,520 |
| |
Other Industries: Total |
|
31,025,520 |
| |||
|
|
|
|
|
| |
Total Equities: 98.7% |
|
899,199,624 |
(f) | |||
|
|
|
|
|
| |
Short-Term Investments: 1.2% |
|
|
| |||
10,843,811 |
|
J.P. Morgan U.S. Government Money Market Fund - Agency Shares (7 day yield of 0.01%) |
|
10,843,811 |
| |
Total Short-Term Investments: 1.2% |
|
10,843,811 |
| |||
Number of Shares |
|
|
|
Value |
| |
Securities Lending Collateral: 2.3% |
|
|
| |||
20,974,050 |
|
Dreyfus Government Cash Management Fund - Institutional Shares (7 day yield of 0.01%) (g) |
|
$ |
20,974,050 |
|
Total Securities Lending Collateral: 2.3% |
|
20,974,050 |
| |||
Total Investments: 102.2% (Cost: $627,728,152)(h) |
|
931,017,485 |
(i) | |||
Obligation to Return Collateral for Securities Loaned: (2.3)% |
|
(20,974,050 |
) | |||
Cash and Other Assets Less Liabilities: 0.1% |
|
650,160 |
| |||
Net Assets: 100.0% |
|
$ |
910,693,595 |
|
ADR - American Depositary Receipts
> Notes to Statement of Investments
(a) Non-income producing security.
(b) All or a portion of this security was on loan at March 31, 2013. The total market value of securities on loan at March 31, 2013 was $20,389,449.
(c) An affiliated person of the Fund may include any company in which the Fund owns five percent or more of its outstanding voting shares. Holdings and transactions in these affiliated companies during the period ended March 31, 2013, are as follows:
Security |
|
Balance of |
|
Purchases/ |
|
Sales/ |
|
Balance of |
|
Value |
|
Dividend |
| ||
Canadian Overseas Petroleum |
|
24,000,000 |
|
|
|
|
|
24,000,000 |
|
$ |
5,443,323 |
|
$ |
|
|
Globalstar (1) |
|
19,000,000 |
|
|
|
1,541,454 |
|
17,458,546 |
|
5,499,442 |
|
|
| ||
IFM Investments (Century 21 China RE) - ADR |
|
1,300,000 |
|
|
|
|
|
1,300,000 |
|
3,484,000 |
|
|
| ||
Petrodorado Energy |
|
33,700,000 |
|
|
|
|
|
33,700,000 |
|
5,971,354 |
|
|
| ||
WNS - ADR |
|
3,034,100 |
|
|
|
251,100 |
|
2,783,000 |
|
41,021,420 |
|
|
| ||
Total of Affiliated Transactions |
|
81,034,100 |
|
|
|
1,792,554 |
|
79,241,546 |
|
$ |
61,419,539 |
|
$ |
|
|
(1) At March 31, 2013, the Fund owned less than five percent of the companys outstanding voting shares.
The aggregate cost and value of these companies at March 31, 2013, were $62,543,814 and $55,920,097, respectively. Investments in affiliated companies represented 6.14% of the Funds total net assets at March 31, 2013.
(d) Illiquid security.
(e) Denotes a restricted security, which is subject to restrictions on resale under federal securities laws. These securities are valued at fair value determined in good faith under consistently applied procedures established by the Board of Trustees. At March 31, 2013, the market value of these securities amounted to $23,593,219, which represented 2.59% of total net assets. Additional information on these securities is as follows:
Security |
|
Acquisition |
|
Shares |
|
Cost |
|
Value |
| ||
Union Agriculture Group |
|
12/8/10-6/27/12 |
|
1,742,424 |
|
$ |
20,000,000 |
|
$ |
17,807,574 |
|
Canadian Overseas Petroleum |
|
11/24/10 |
|
24,000,000 |
|
10,260,435 |
|
5,443,323 |
| ||
Canadian Overseas Petroleum - Warrants |
|
11/24/10 |
|
12,000,000 |
|
1,501,964 |
|
342,322 |
| ||
|
|
|
|
|
|
$ |
31,762,399 |
|
$ |
23,593,219 |
|
> Notes to Statement of Investments
(f) On March 31, 2013, the market value of foreign securities represented 14.39% of total net assets. The Funds foreign portfolio was diversified as follows:
Country |
|
Value |
|
Percentage |
| |
India |
|
$ |
41,021,420 |
|
4.50 |
|
Colombia |
|
33,392,109 |
|
3.67 |
| |
Uruguay |
|
17,807,574 |
|
1.96 |
| |
China |
|
16,046,209 |
|
1.76 |
| |
Canada |
|
9,947,980 |
|
1.09 |
| |
Iraq |
|
7,049,269 |
|
0.77 |
| |
United Kingdom |
|
5,785,645 |
|
0.64 |
| |
Total Foreign Portfolio |
|
$ |
131,050,206 |
|
14.39 |
|
(g) Investment made with cash collateral received from securities lending activity.
(h) At March 31, 2013, for federal income tax purposes, the cost of investments was $627,728,152 and net unrealized appreciation was $303,289,333 consisting of gross unrealized appreciation of $379,837,422 and gross unrealized depreciation of $76,548,089.
(i) Securities are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.
Fair Value Measurements
Various inputs are used in determining the value of the Funds investments, following the input prioritization hierarchy established by accounting principles generally accepted in the United States of America (GAAP). These inputs are summarized in the three broad levels listed below:
· Level 1 quoted prices in active markets for identical securities
· Level 2 prices determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others)
· Level 3 prices determined using significant unobservable inputs where quoted prices or observable inputs are unavailable or less reliable (including managements own assumptions about the factors market participants would use in pricing an investment)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
Examples of the types of securities in which the Fund would typically invest and how they are classified within this hierarchy are as follows. Typical Level 1 securities include exchange traded domestic equities, mutual funds whose NAVs are published each day and exchange traded foreign equities that are not statistically fair valued. Typical Level 2 securities include exchange traded foreign equities that are statistically fair valued, forward foreign currency exchange contracts and short-term investments valued at amortized cost. Additionally, securities fair valued by the Valuation Committee (the Committee) of the Funds Board of Trustees (the Board) that rely on significant observable inputs are also included in Level 2. Typical Level 3 securities include any security fair valued by the Committee that relies on significant unobservable inputs.
Under the direction of the Board, the Committee is responsible for carrying out the valuation procedures approved by the Board.
The Committee meets as necessary, and no less frequently than quarterly, to determine fair values for securities for which market quotations are not readily available or for which the investment manager believes that available market quotations are unreliable, to review the appropriateness of the Trusts Portfolio Pricing Policy and the pricing procedures of the investment manager (the Policies), and to review the continuing appropriateness of the current value of any security subject to the Policies. The Policies address, among other things: circumstances under which market quotations will be deemed readily available; selection of third party pricing vendors; appropriate pricing methodologies; events that require fair valuation and fair value techniques; and circumstances under which securities will be deemed to pose a potential for stale pricing, including when securities are illiquid, restricted, or in default. The Committee may also meet to discuss additional valuation matters, which may include review of back-testing results, review of time-sensitive information or approval of other valuation related actions, and to review the appropriateness of the Policies.
For investments categorized as Level 3, the significant unobservable inputs used in the fair value measurement of the Funds securities may include: (i) data specific to the issuer or comparable issuers, (ii) general market or specific sector news and (iii) quoted prices and specific or similar security transactions. The Committee considers this data and any changes from prior periods in order to assess the reasonableness of observable and unobservable inputs, any assumptions or internal models used to value those securities and changes in fair value. Significant changes in any of these factors could result in lower or higher fair value measurements. Various factors impact the frequency of monitoring (which may occur as often as daily), however the Committee may determine that changes to inputs, assumptions and models are not required with the same frequency.
> Notes to Statement of Investments
The following table summarizes the inputs used, as of March 31, 2013, in valuing the Funds assets:
Investment Type |
|
Quoted Prices |
|
Other |
|
Significant |
|
Total |
| ||||
Equities |
|
|
|
|
|
|
|
|
| ||||
Information |
|
$ |
211,937,442 |
|
$ |
|
|
$ |
|
|
$ |
211,937,442 |
|
Industrial Goods & Services |
|
211,247,874 |
|
|
|
|
|
211,247,874 |
| ||||
Consumer Goods & Services |
|
158,331,302 |
|
10,980,959 |
|
|
|
169,312,261 |
| ||||
Finance |
|
154,379,720 |
|
|
|
|
|
154,379,720 |
| ||||
Energy & Minerals |
|
54,067,608 |
|
5,785,645 |
|
17,807,574 |
|
77,660,827 |
| ||||
Health Care |
|
43,635,980 |
|
|
|
|
|
43,635,980 |
| ||||
Other Industries |
|
31,025,520 |
|
|
|
|
|
31,025,520 |
| ||||
Total Equities |
|
864,625,446 |
|
16,766,604 |
|
17,807,574 |
|
899,199,624 |
| ||||
Total Short-Term Investments |
|
10,843,811 |
|
|
|
|
|
10,843,811 |
| ||||
Total Securities Lending Collateral |
|
20,974,050 |
|
|
|
|
|
20,974,050 |
| ||||
Total Investments |
|
$ |
896,443,307 |
|
$ |
16,766,604 |
|
$ |
17,807,574 |
|
$ |
931,017,485 |
|
The Funds assets assigned to the Level 2 input category are generally valued using a market approach, in which a securitys value is determined through its correlation to prices and information from observable market transactions for similar or identical assets. Foreign equities are generally valued at the last sale price on the foreign exchange or market on which they trade. The Fund may use a statistical fair valuation model, in accordance with the policy adopted by the Board, provided by an independent third party to value securities principally traded in foreign markets in order to adjust for possible stale pricing that may occur between the close of the foreign exchanges and the time for valuation. These models take into account available market data including intraday index, ADR, and ETF movements. Securities acquired via private placement that have a holding period or an extended settlement period are valued at a discount to the same shares that are trading freely on the market. These discounts are determined by the investment managers experience with similar securities or situations. Factors may include, but are not limited to, trade volume, shares outstanding and stock price. Warrants which do not trade are valued as a percentage of the actively trading common stock using a model, based on Black Scholes. Securities which have halted or temporarily stopped trading are valued at the last sale and adjusted by a premium or a discount to account for the anticipated re-opening price. These adjustments are determined by the investment managers experience with similar securities or situations.
There were no transfers of financial assets between levels 1 and 2 during the period.
Quantitative information pertaining to Level 3 unobservable fair value measurements
|
|
Fair Value at |
|
Valuation Technique(s) |
|
Unobservable Input(s) |
|
Range (Weighted |
| |
Equities |
|
$ |
17,807,574 |
|
Market comparable companies |
|
Discount for lack of marketability |
|
-5% to +2% (-10%) |
|
Certain common stock classified as Level 3 are valued at fair value, using a market approach, as determined in good faith under consistently applied procedures established by and under the general supervision of the Board. To determine fair value for these securities, for which no market exists, the Committee utilizes the valuation technique it deems most appropriate in the circumstances, using some unobservable inputs, which may include but are not limited to trades of similar securities, estimated earnings of the company, market multiples derived from a set of comparable companies, and the position of the security within the companys capital structure. Significant increases or decreases to any of these inputs could result in a significantly lower or higher fair value measurement.
Columbia Thermostat Fund
Statement of Investments (Unaudited), March 31, 2013
Number of Shares |
|
|
|
Value |
| |
|
|
> Affiliated Bond Funds 69.1% |
|
|
| |
30,560,305 |
|
Columbia Short Term Bond Fund, Class I |
|
$ |
305,908,658 |
|
22,780,409 |
|
Columbia Income Opportunities Fund, Class I |
|
230,309,932 |
| |
24,375,926 |
|
Columbia Intermediate Bond Fund, Class I |
|
229,864,979 |
| |
Total Affiliated Bond Funds: (Cost: $758,263,956) |
|
766,083,569 |
| |||
|
|
|
| |||
|
|
> Affiliated Stock Funds 29.7% |
|
|
| |
4,036,039 |
|
Columbia Dividend Income Fund, Class I |
|
66,029,601 |
| |
1,505,345 |
|
Columbia Acorn International, Class I |
|
65,843,786 |
| |
1,476,469 |
|
Columbia Acorn Fund, Class I |
|
49,417,426 |
| |
2,740,284 |
|
Columbia Contrarian Core Fund, Class I |
|
49,352,519 |
| |
2,149,781 |
|
Columbia Select Large Cap Growth Fund, Class I (a) |
|
33,343,098 |
| |
1,162,700 |
|
Columbia Acorn Select, Class I (a) |
|
32,974,183 |
| |
2,114,935 |
|
Columbia Large Cap Enhanced Core Fund, Class I |
|
32,908,381 |
| |
Total Affiliated Stock Funds: (Cost: $266,533,871) |
|
329,868,994 |
| |||
|
|
|
|
|
| |
|
|
> Short-Term Investments 0.6% |
|
|
| |
6,625,255 |
|
J.P. Morgan U.S. Government Money Market Fund - Agency Shares (7 day yield of 0.01%) |
|
|
6,625,255 |
|
Total Short-Term Investments: (Cost: $6,625,255) |
|
6,625,255 |
| |||
|
|
|
| |||
Total Investments: 99.4% (Cost: $1,031,423,082)(b) |
|
1,102,577,818 |
(c) | |||
|
|
|
| |||
Cash and Other Assets Less Liabilities: 0.6% |
|
6,601,091 |
| |||
|
|
|
| |||
Net Assets: 100.0% |
|
$ |
1,109,178,909 |
|
> Notes to Statement of Investments
(a) |
Non-income producing security. |
(b) |
At March 31, 2013, for federal income tax purposes, the cost of investments was $1,031,423,082 and net unrealized appreciation was $71,154,736 consisting of gross unrealized appreciation of $71,154,736. |
(c) |
Securities are valued using policies described in the Notes to Financial Statements in the most recent shareholder report. |
Fair Value Measurements
Various inputs are used in determining the value of the Funds investments, following the input prioritization hierarchy established by accounting principles generally accepted in the United States of America (GAAP). These inputs are summarized in the three broad levels listed below:
· Level 1 quoted prices in active markets for identical securities
· Level 2 prices determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others)
· Level 3 prices determined using significant unobservable inputs where quoted prices or observable inputs are unavailable or less reliable (including managements own assumptions about the factors market participants would use in pricing an investment)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
Examples of the types of securities in which the Fund would typically invest and how they are classified within this hierarchy are as follows. Typical Level 1 securities include mutual funds whose NAVs are published each day.
Under the direction of the Board, the Committee is responsible for carrying out the valuation procedures approved by the Board.
The Committee meets as necessary, and no less frequently than quarterly, to determine fair values for securities for which market quotations are not readily available or for which the investment manager believes that available market quotations are unreliable, to review the appropriateness of the Trusts Portfolio Pricing Policy and the pricing procedures of the investment manager (the Policies), and to review the continuing appropriateness of the current value of any security subject to the Policies. The Policies address, among other things: circumstances under which market quotations will be deemed readily available; selection of third party pricing vendors; appropriate pricing methodologies; events that require fair valuation and fair value techniques; and circumstances under which securities will be deemed to pose a potential for stale pricing, including when securities are illiquid, restricted, or in default. The Committee may also meet to discuss additional valuation matters, which may include review of back-testing results, review of time-sensitive information or approval of other valuation related actions, and to review the appropriateness of the Policies.
> Notes to Statement of Investments
For investments categorized as Level 3, the significant unobservable inputs used in the fair value measurement of the Funds securities may include: (i) data specific to the issuer or comparable issuers, (ii) general market or specific sector news and (iii) quoted prices and specific or similar security transactions. The Committee considers this data and any changes from prior periods in order to assess the reasonableness of observable and unobservable inputs, any assumptions or internal models used to value those securities and changes in fair value. Significant changes in any of these factors could result in lower or higher fair value measurements. Various factors impact the frequency of monitoring (which may occur as often as daily), however the Committee may determine that changes to inputs, assumptions and models are not required with the same frequency.
The following table summarizes the inputs used, as of March 31, 2013, in valuing the Funds assets:
Investment Type |
|
Quoted Prices |
|
Other |
|
Significant |
|
Total |
| ||||
Total Affiliated Bond Funds |
|
$ |
766,083,569 |
|
$ |
|
|
$ |
|
|
$ |
766,083,569 |
|
Total Affiliated Stock Funds |
|
329,868,994 |
|
|
|
|
|
329,868,994 |
| ||||
Total Short-Term Investments |
|
6,625,255 |
|
|
|
|
|
6,625,255 |
| ||||
Total Investments |
|
$ |
1,102,577,818 |
|
$ |
|
|
$ |
|
|
$ |
1,102,577,818 |
|
There were no transfers of financial assets between levels 1 and 2 during the period.
Columbia Acorn Emerging Markets Fund
Statement of Investments (Unaudited), March 31, 2013
Number of Shares |
|
|
|
Value |
| |
Equities: 92.9% |
|
|
| |||
Asia 57.6% |
|
|
| |||
|
|
> Taiwan 14.1% |
|
|
| |
289,000 |
|
Far EasTone Telecom |
|
$ |
655,421 |
|
|
|
Taiwans Third Largest Mobile Operator |
|
|
| |
201,000 |
|
CTCI Corp |
|
388,325 |
| |
|
|
International Engineering Firm |
|
|
| |
76,169 |
|
Advantech |
|
330,894 |
| |
|
|
Industrial PC & Components |
|
|
| |
98,000 |
|
Flexium Interconnect |
|
326,686 |
| |
|
|
Flexible Printed Circuit for Mobile Electronics |
|
|
| |
126,000 |
|
Taiwan Hon Chuan |
|
326,286 |
| |
|
|
Beverage Packaging (Bottles, Caps, Labels) Manufacturer |
|
|
| |
15,000 |
|
St. Shine Optical |
|
293,398 |
| |
|
|
Worlds Leading Disposable Contact Lens OEM (Original Equipment Manufacturer) |
|
|
| |
55,000 |
|
PC Home |
|
226,979 |
| |
|
|
Taiwanese Internet Retail Company |
|
|
| |
63,500 |
|
Lung Yen |
|
220,448 |
| |
|
|
Funeral Services & Columbaria |
|
|
| |
88,990 |
|
Chroma Ate |
|
214,690 |
| |
|
|
Automatic Test Systems, Testing & Measurement Instruments |
|
|
| |
11,000 |
|
Ginko International |
|
181,737 |
| |
|
|
Largest Contact Lens Maker in China |
|
|
| |
39,000 |
|
CHC Healthcare |
|
153,896 |
| |
|
|
Medical Device Distributor |
|
|
| |
|
|
|
|
3,318,760 |
| |
|
|
> Indonesia 12.0% |
|
|
| |
966,609 |
|
Tower Bersama Infrastructure (a) |
|
602,549 |
| |
|
|
Communications Towers |
|
|
| |
6,656,690 |
|
Ace Indonesia |
|
570,160 |
| |
|
|
Home Improvement Retailer |
|
|
| |
121,500 |
|
Mayora Indah |
|
339,674 |
| |
|
|
Consumer Branded Food Manufacturer |
|
|
| |
1,420,000 |
|
MNC Skyvision (a) |
|
321,482 |
| |
|
|
Largest Satellite Pay TV Operator in Indonesia |
|
|
| |
350,164 |
|
Archipelago Resources (a) |
|
307,263 |
| |
|
|
Gold Mining Projects in Indonesia, Vietnam & the Philippines |
|
|
| |
236,500 |
|
Matahari Department Store (a) |
|
267,713 |
| |
|
|
Largest Department Store Chain in Indonesia |
|
|
| |
781,440 |
|
Surya Citra Media |
|
223,603 |
| |
|
|
Free to Air TV Station in Indonesia |
|
|
| |
1,358,000 |
|
Indosiar Karya Media (a) |
|
181,964 |
| |
|
|
Free to Air TV Station in Indonesia |
|
|
| |
|
|
|
|
2,814,408 |
| |
|
|
> Hong Kong 9.1% |
|
|
| |
379,000 |
|
Melco International |
|
659,228 |
| |
|
|
Macau Casino Operator |
|
|
| |
195,589 |
|
Lifestyle International |
|
434,910 |
| |
|
|
Mid- to High-end Department Store Operator in Hong Kong & China |
|
|
| |
80,527 |
|
AAC Technologies |
|
388,264 |
| |
|
|
Miniature Acoustic Components |
|
|
| |
231,799 |
|
Sa Sa International |
|
224,805 |
| |
|
|
Cosmetics Retailer |
|
|
| |
73,250 |
|
LOccitane International |
|
223,246 |
| |
|
|
Skin Care & Cosmetics Producer |
|
|
| |
259,000 |
|
Mapletree Greater China Commercial Trust (a) |
|
217,165 |
| |
|
|
Retail & Office Property Landlord |
|
|
| |
|
|
|
|
2,147,618 |
| |
|
|
> India 7.3% |
|
|
| |
34,532 |
|
United Breweries |
|
444,513 |
| |
|
|
Indias Largest Brewer |
|
|
| |
1,986 |
|
Bosch |
|
328,763 |
| |
|
|
Automotive Parts |
|
|
| |
181,621 |
|
Redington India |
|
270,985 |
| |
|
|
Supply Chain Solutions for IT & Mobile Handsets in Emerging Markets |
|
|
| |
3,725 |
|
TTK Prestige |
|
222,557 |
| |
|
|
Branded Cooking Equipment |
|
|
| |
28,042 |
|
Yes Bank |
|
221,805 |
| |
|
|
Commercial Banking in India |
|
|
| |
9,617 |
|
Colgate Palmolive India |
|
219,852 |
| |
|
|
Consumer Products in Oral Care |
|
|
| |
|
|
|
|
1,708,475 |
| |
|
|
> Thailand 4.1% |
|
|
| |
579,900 |
|
Home Product Center |
|
333,913 |
| |
|
|
Home Improvement Retailer |
|
|
| |
84,400 |
|
Robinsons Department Store |
|
221,199 |
| |
|
|
Mass-market Department Srore Operator in Thailand |
|
|
| |
350,700 |
|
Samui Airport Property Fund |
|
215,558 |
| |
|
|
Thai Airport Operator |
|
|
| |
10,300 |
|
Siam Makro |
|
185,564 |
| |
|
|
General Merchadise Wholesaler in Thailand |
|
|
| |
|
|
|
|
956,234 |
| |
|
|
> Cambodia 2.8% |
|
|
| |
784,000 |
|
Nagacorp |
|
662,670 |
| |
|
|
Casino/Entertainment Complex in Cambodia |
|
|
| |
|
|
|
|
|
| |
|
|
> China 2.3% |
|
|
| |
235,151 |
|
Digital China |
|
318,949 |
| |
|
|
IT Distribution & Systems Integration Services |
|
|
| |
578,000 |
|
AMVIG Holdings |
|
216,679 |
| |
|
|
Chinese Tobacco Packaging Material Supplier |
|
|
| |
|
|
|
|
535,628 |
| |
|
|
> Philippines 2.0% |
|
|
| |
104,387 |
|
International Container Terminal Services |
|
235,430 |
| |
|
|
Container Handling Terminals & Port Management |
|
|
| |
234,865 |
|
Manila Water Company |
|
230,722 |
| |
|
|
Water Utility Company in Philippines |
|
|
| |
|
|
|
|
466,152 |
| |
|
|
> Korea 1.6% |
|
|
| |
19,125 |
|
Paradise Co |
|
365,310 |
| |
|
|
Korean Foreigner Only Casino Operator |
|
|
| |
|
|
|
|
|
| |
|
|
> Japan 1.4% |
|
|
| |
28,760 |
|
Kansai Paint |
|
319,420 |
| |
|
|
Paint Producer in Japan, India, China & Southeast Asia |
|
|
| |
|
|
|
|
|
| |
|
|
> Mongolia 0.9% |
|
|
| |
579,600 |
|
Mongolian Mining (a) |
|
213,066 |
| |
|
|
Coking Coal Mining in Mongolia |
|
|
| |
Asia: Total |
|
13,507,741 |
| |||
Number of Shares |
|
|
|
Value |
| |
Latin America 12.7% |
|
|
| |||
|
|
> Brazil 6.9% |
|
|
| |
24,100 |
|
Localiza Rent A Car |
|
$ |
432,924 |
|
|
|
Car Rental |
|
|
| |
320,191 |
|
Beadell Resources (a) |
|
304,387 |
| |
|
|
Gold Mining in Brazil |
|
|
| |
15,600 |
|
Multiplus |
|
225,344 |
| |
|
|
Loyalty Program Operator in Brazil |
|
|
| |
13,900 |
|
Linx (a) |
|
218,465 |
| |
|
|
Retail Management Software in Brazil |
|
|
| |
47,300 |
|
Odontoprev |
|
215,580 |
| |
|
|
Dental Insurance |
|
|
| |
16,317 |
|
Arcos Dorados (b) |
|
215,384 |
| |
|
|
McDonalds Master Franchise for Latin America |
|
|
| |
|
|
|
|
1,612,084 |
| |
|
|
> Mexico 3.3% |
|
|
| |
2,447 |
|
Grupo Aeroportuario del Sureste - ADR |
|
334,431 |
| |
|
|
Mexican Airport Operator |
|
|
| |
90,400 |
|
Genomma Lab Internacional (a) |
|
221,106 |
| |
|
|
Develops, Markets & Distributes Consumer Products |
|
|
| |
77,000 |
|
Bolsa Mexicana de Valores |
|
220,500 |
| |
|
|
Mexicos Stock Exchange |
|
|
| |
|
|
|
|
776,037 |
| |
|
|
> Argentina 0.9% |
|
|
| |
635,500 |
|
Madalena Ventures (a) |
|
218,955 |
| |
|
|
Oil & Gas Exploration in Argentina |
|
|
| |
|
|
|
|
|
| |
|
|
> Colombia 0.8% |
|
|
| |
135,457 |
|
Isagen |
|
188,475 |
| |
|
|
Leading Colombian Electricity Provider |
|
|
| |
|
|
|
|
|
| |
|
|
> Chile 0.8% |
|
|
| |
155,147 |
|
Grupo Hites |
|
184,268 |
| |
|
|
Mass Retailer for the Lower Income Strata |
|
|
| |
Latin America: Total |
|
2,979,819 |
| |||
|
|
|
|
|
| |
Europe 11.4% |
|
|
| |||
|
|
> Sweden 2.4% |
|
|
| |
20,314 |
|
Hexagon |
|
554,772 |
| |
|
|
Design, Measurement & Visualization Software & Equipment |
|
|
| |
|
|
|
|
|
| |
|
|
> Switzerland 2.3% |
|
|
| |
4,348 |
|
Dufry Group (a) |
|
539,550 |
| |
|
|
Operates Airport Duty Free & Duty Paid Shops |
|
|
| |
|
|
|
|
|
| |
|
|
> Kazakhstan 1.8% |
|
|
| |
57,785 |
|
Halyk Savings Bank of Kazakhstan - GDR (a) |
|
414,896 |
| |
|
|
Largest Retail Bank & Insurer in Kazakhstan |
|
|
| |
|
|
|
|
|
| |
|
|
> Finland 1.4% |
|
|
| |
5,016 |
|
Vacon |
|
337,563 |
| |
|
|
Leading Independent Manufacturer of Variable Speed Alternating Current Drives |
|
|
| |
|
|
|
|
|
| |
|
|
> Italy 1.4% |
|
|
| |
31,152 |
|
Pirelli |
|
326,845 |
| |
|
|
Global Tire Supplier |
|
|
| |
|
|
|
|
|
| |
|
|
> United Kingdom 1.1% |
|
|
| |
413,481 |
|
Cable & Wireless |
|
263,494 |
| |
|
|
Leading Telecom Service Supplier in the Caribbean |
|
|
| |
|
|
|
|
|
| |
|
|
> Turkey 1.0% |
|
|
| |
13,675 |
|
Bizim Toptan |
|
233,547 |
| |
|
|
Cash & Carry Stores in Turkey |
|
|
| |
Europe: Total |
|
2,670,667 |
| |||
|
|
|
|
|
| |
Other Countries 11.2% |
|
|
| |||
|
|
> South Africa 6.8% |
|
|
| |
109,663 |
|
Coronation Fund Managers |
|
572,447 |
| |
|
|
South African Fund Manager |
|
|
| |
161,832 |
|
Rand Merchant Insurance |
|
409,891 |
| |
|
|
Directly Sold Property & Casualty Insurance; Holdings in Other Insurers |
|
|
| |
18,011 |
|
Massmart Holdings |
|
372,646 |
| |
|
|
General Merchandise, Food & Home Improvement Stores; Wal-Mart Subsidiary |
|
|
| |
18,556 |
|
Mr. Price |
|
236,084 |
| |
|
|
South African Retailer of Apparel, Household & Sporting Goods |
|
|
| |
|
|
|
|
1,591,068 |
| |
|
|
> United States 2.9% |
|
|
| |
9,393 |
|
Textainer Group Holdings |
|
371,493 |
| |
|
|
Top International Container Leasor |
|
|
| |
6,014 |
|
Atwood Oceanics (a) |
|
315,976 |
| |
|
|
Offshore Drilling Contractor |
|
|
| |
|
|
|
|
687,469 |
| |
|
|
> Canada 1.5% |
|
|
| |
17,199 |
|
Alliance Grain Traders |
|
219,760 |
| |
|
|
Global Leader in Pulse Processing & Distribution |
|
|
| |
67,105 |
|
Americas Petrogas (a) |
|
127,492 |
| |
|
|
Oil & Gas Exploration in Argentina, Potash in Peru |
|
|
| |
|
|
|
|
347,252 |
| |
Other Countries: Total |
|
2,625,789 |
| |||
|
|
|
| |||
Total Equities: 92.9% (Cost: $20,122,537) |
|
21,784,016 |
(c) | |||
|
|
|
| |||
Short-Term Investments: 4.8% |
|
|
| |||
1,131,791 |
|
J.P. Morgan U.S. Government Money Market Fund - Agency Shares (7 day yield of 0.01%) |
|
1,131,791 |
| |
Total Short-Term Investments: 4.8% (Cost: $1,131,791) |
|
1,131,791 |
| |||
Number of Shares |
|
|
|
Value |
| |
Securities Lending Collateral: 0.6% |
|
|
| |||
149,800 |
|
Dreyfus Government Cash Management Fund - Institutional Shares (7 day yield of 0.01%) (d) |
|
$ |
149,800 |
|
Total Securities Lending Collateral: 0.6% (Cost: $149,800) |
|
149,800 |
| |||
|
|
|
| |||
Total Investments: 98.3% (Cost: $21,404,128)(e) |
|
23,065,607 |
(f) | |||
|
|
|
| |||
Obligation to Return Collateral for Securities Loaned: (0.6)% |
|
(149,800 |
) | |||
|
|
|
| |||
Cash and Other Assets Less Liabilities: 2.3% |
|
537,769 |
| |||
|
|
|
| |||
Net Assets: 100.0% |
|
$ |
23,453,576 |
|
ADR - American Depositary Receipts
GDR - Global Depositary Receipts
> Notes to Statement of Investments
(a) |
Non-income producing security. |
(b) |
All or a portion of this security was on loan at March 31, 2013. The total market value of securities on loan at March 31, 2013 was $141,240. |
(c) |
On March 31, 2013, the Funds total investments were denominated in currencies as follows: |
Currency |
|
Value |
|
Percentage |
| |
Hong Kong Dollar |
|
$ |
3,341,818 |
|
14.2 |
|
Taiwan Dollar |
|
3,318,760 |
|
14.2 |
| |
Indonesian Rupiah |
|
2,507,145 |
|
10.7 |
| |
Indian Rupee |
|
1,708,475 |
|
7.3 |
| |
United States Dollar |
|
1,652,181 |
|
7.0 |
| |
South African Rand |
|
1,591,068 |
|
6.8 |
| |
Other currencies less than 5% of total net assets |
|
7,664,568 |
|
32.7 |
| |
Total Equities |
|
$ |
21,784,015 |
|
92.9 |
|
(d) |
Investment made with cash collateral received from securities lending activity. |
(e) |
At March 31, 2013, for federal income tax purposes, the cost of investments was $21,404,128 and net unrealized appreciation was $1,661,479 consisting of gross unrealized appreciation of $2,310,732 and gross unrealized depreciation of $649,253. |
(f) |
Securities are valued using policies described in the Notes to Financial Statements in the most recent shareholder report. |
Fair Value Measurements
Various inputs are used in determining the value of the Funds investments, following the input prioritization hierarchy established by accounting principles generally accepted in the United States of America (GAAP). These inputs are summarized in the three broad levels listed below:
· Level 1 quoted prices in active markets for identical securities
· Level 2 prices determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others)
· Level 3 prices determined using significant unobservable inputs where quoted prices or observable inputs are unavailable or less reliable (including managements own assumptions about the factors market participants would use in pricing an investment)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
Examples of the types of securities in which the Fund would typically invest and how they are classified within this hierarchy are as follows. Typical Level 1 securities include exchange traded domestic equities, mutual funds whose NAVs are published each day and exchange traded foreign equities that are not statistically fair valued. Typical Level 2 securities include exchange traded foreign equities that are statistically fair valued, forward foreign currency exchange contracts and short-term investments valued at
> Notes to Statement of Investments
amortized cost. Additionally, securities fair valued by the Valuation Committee (the Committee) of the Funds Board of Trustees (the Board) that rely on significant observable inputs are also included in Level 2. Typical Level 3 securities include any security fair valued by the Committee that relies on significant unobservable inputs.
Under the direction of the Board, the Committee is responsible for carrying out the valuation procedures approved by the Board.
The Committee meets as necessary, and no less frequently than quarterly, to determine fair values for securities for which market quotations are not readily available or for which the investment manager believes that available market quotations are unreliable, to review the appropriateness of the Trusts Portfolio Pricing Policy and the pricing procedures of the investment manager (the Policies), and to review the continuing appropriateness of the current value of any security subject to the Policies. The Policies address, among other things: circumstances under which market quotations will be deemed readily available; selection of third party pricing vendors; appropriate pricing methodologies; events that require fair valuation and fair value techniques; and circumstances under which securities will be deemed to pose a potential for stale pricing, including when securities are illiquid, restricted, or in default. The Committee may also meet to discuss additional valuation matters, which may include review of back-testing results, review of time-sensitive information or approval of other valuation related actions, and to review the appropriateness of the Policies.
For investments categorized as Level 3, the significant unobservable inputs used in the fair value measurement of the Funds securities may include: (i) data specific to the issuer or comparable issuers, (ii) general market or specific sector news and (iii) quoted prices and specific or similar security transactions. The Committee considers this data and any changes from prior periods in order to assess the reasonableness of observable and unobservable inputs, any assumptions or internal models used to value those securities and changes in fair value. Significant changes in any of these factors could result in lower or higher fair value measurements. Various factors impact the frequency of monitoring (which may occur as often as daily), however the Committee may determine that changes to inputs, assumptions and models are not required with the same frequency.
The following table summarizes the inputs used, as of March 31, 2013, in valuing the Funds assets:
Investment Type |
|
Quoted Prices |
|
Other |
|
Significant |
|
Total |
| ||||
Equities |
|
|
|
|
|
|
|
|
| ||||
Asia |
|
$ |
|
|
$ |
13,507,741 |
|
$ |
|
|
$ |
13,507,741 |
|
Latin America |
|
2,675,432 |
|
304,387 |
|
|
|
2,979,819 |
| ||||
Europe |
|
|
|
2,670,667 |
|
|
|
2,670,667 |
| ||||
Other Countries |
|
1,034,721 |
|
1,591,068 |
|
|
|
2,625,789 |
| ||||
Total Equities |
|
3,710,153 |
|
18,073,863 |
|
|
|
21,784,016 |
| ||||
Total Short-Term Investments |
|
1,131,791 |
|
|
|
|
|
1,131,791 |
| ||||
Total Securities Lending Collateral |
|
149,800 |
|
|
|
|
|
149,800 |
| ||||
Total Investments |
|
$ |
4,991,744 |
|
$ |
18,073,863 |
|
$ |
|
|
$ |
23,065,607 |
|
The Funds assets assigned to the Level 2 input category are generally valued using a market approach, in which a securitys value is determined through its correlation to prices and information from observable market transactions for similar or identical assets. Foreign equities are generally valued at the last sale price on the foreign exchange or market on which they trade. The Fund may use a statistical fair valuation model, in accordance with the policy adopted by the Board, provided by an independent third party to value securities principally traded in foreign markets in order to adjust for possible stale pricing that may occur between the close of the foreign exchanges and the time for valuation. These models take into account available market data including intraday index, ADR, and ETF movements.
There were no transfers of financial assets between levels 1 and 2 during the period.
Columbia Acorn European Fund
Statement of Investments (Unaudited), March 31, 2013
Number of Shares |
|
|
|
Value |
| |
Equities: 94.3% |
|
|
| |||
Europe 89.6% |
|
|
| |||
|
|
> United Kingdom 28.4% |
|
|
| |
8,535 |
|
JLT Group |
|
$ |
110,362 |
|
|
|
International Business Insurance Broker |
|
|
| |
10,550 |
|
Dominos Pizza UK & Ireland |
|
96,582 |
| |
|
|
Pizza Delivery in UK, Ireland & Germany |
|
|
| |
3,500 |
|
Rightmove |
|
94,715 |
| |
|
|
Internet Real Estate Listings |
|
|
| |
160,400 |
|
Assura |
|
86,521 |
| |
|
|
UK Primary Health Care Property Developer |
|
|
| |
35,313 |
|
Ocado (a)(b) |
|
84,777 |
| |
|
|
Leading Online Grocery Retailer |
|
|
| |
2,013 |
|
Spirax Sarco |
|
82,186 |
| |
|
|
Steam Systems for Manufacturing & Process Industries |
|
|
| |
28,121 |
|
Charles Taylor |
|
77,979 |
| |
|
|
Insurance Services |
|
|
| |
5,790 |
|
WH Smith |
|
65,674 |
| |
|
|
Newsprint, Books & General Stationery Retailer |
|
|
| |
8,700 |
|
Greggs |
|
63,029 |
| |
|
|
Bakery |
|
|
| |
1,600 |
|
Whitbread |
|
62,431 |
| |
|
|
The UKs Leading Hotelier & Coffee Shop |
|
|
| |
4,360 |
|
Telecity |
|
59,855 |
| |
|
|
European Data Center Provider |
|
|
| |
6,100 |
|
Shaftesbury |
|
53,897 |
| |
|
|
London Prime Retail REIT |
|
|
| |
81,000 |
|
Cable & Wireless |
|
51,618 |
| |
|
|
Leading Telecom Service Supplier in the Caribbean |
|
|
| |
11,113 |
|
Elementis |
|
44,021 |
| |
|
|
Clay-based Additives |
|
|
| |
6,313 |
|
Abcam |
|
42,926 |
| |
|
|
Online Sales of Antibodies |
|
|
| |
10,870 |
|
BBA Aviation |
|
42,530 |
| |
|
|
Aviation Support Services |
|
|
| |
1,535 |
|
Aggreko |
|
41,563 |
| |
|
|
Temporary Power & Temperature Control Services |
|
|
| |
790 |
|
Intertek Group |
|
40,728 |
| |
|
|
Testing, Inspection, Certification Services |
|
|
| |
4,676 |
|
Smiths News |
|
13,144 |
| |
|
|
Newspaper & Magazine Distributor |
|
|
| |
8 |
|
Fidessa Group |
|
236 |
| |
|
|
Software for Financial Trading Systems |
|
|
| |
|
|
|
|
1,214,774 |
| |
|
|
> France 13.4% |
|
|
| |
671 |
|
Eurofins Scientific |
|
140,888 |
| |
|
|
Food, Pharmaceuticals & Materials Screening & Testing |
|
|
| |
1,914 |
|
1000 mercis |
|
103,045 |
| |
|
|
Interactive Advertising & Marketing |
|
|
| |
1,530 |
|
Neopost |
|
91,658 |
| |
|
|
Postage Meter Machines |
|
|
| |
760 |
|
Gemalto |
|
66,295 |
| |
|
|
Digital Security Solutions |
|
|
| |
830 |
|
Norbert Dentressangle |
|
62,964 |
| |
|
|
Leading European Logistics & Transport Group |
|
|
| |
2,407 |
|
Saft |
|
62,017 |
| |
|
|
Niche Battery Manufacturer |
|
|
| |
21,200 |
|
Hi-Media (b) |
|
47,556 |
| |
|
|
Online Advertiser in Europe |
|
|
| |
|
|
|
|
574,423 |
| |
|
|
> Netherlands 8.7% |
|
|
| |
3,617 |
|
Aalberts Industries |
|
80,883 |
| |
|
|
Flow Control & Heat Treatment |
|
|
| |
2,062 |
|
UNIT4 |
|
67,044 |
| |
|
|
Business Software Development |
|
|
| |
2,156 |
|
TKH Group |
|
55,826 |
| |
|
|
Dutch Industrial Conglomerate |
|
|
| |
900 |
|
Fugro |
|
49,815 |
| |
|
|
Subsea Oilfield Services |
|
|
| |
346 |
|
Core Labs |
|
47,721 |
| |
|
|
Oil & Gas Reservoir Consulting |
|
|
| |
1,474 |
|
Arcadis |
|
40,803 |
| |
|
|
Engineering Consultants |
|
|
| |
2,596 |
|
Imtech (a) |
|
29,380 |
| |
|
|
Technical Installation & Maintenance |
|
|
| |
|
|
|
|
371,472 |
| |
|
|
> Switzerland 8.4% |
|
|
| |
40 |
|
Sika |
|
97,166 |
| |
|
|
Chemicals for Construction & Industrial Applications |
|
|
| |
393 |
|
Partners Group |
|
96,998 |
| |
|
|
Private Markets Asset Management |
|
|
| |
339 |
|
Geberit |
|
83,456 |
| |
|
|
Plumbing Supplies |
|
|
| |
660 |
|
Dufry Group (b) |
|
81,900 |
| |
|
|
Operates Airport Duty Free & Duty Paid Shops |
|
|
| |
|
|
|
|
359,520 |
| |
|
|
> Germany 8.1% |
|
|
| |
2,310 |
|
Wirecard |
|
63,811 |
| |
|
|
Online Payment Processing & Risk Management |
|
|
| |
454 |
|
Bertrandt |
|
52,958 |
| |
|
|
Outsourced Engineering |
|
|
| |
174 |
|
Rational |
|
52,270 |
| |
|
|
Commercial Ovens |
|
|
| |
1,038 |
|
Stratec Biomedical Systems |
|
46,530 |
| |
|
|
Diagnostic Instrumentation |
|
|
| |
3,900 |
|
TAG Immobilien |
|
44,643 |
| |
|
|
Owner of Residential Properties in Germany |
|
|
| |
1,283 |
|
NORMA Group |
|
40,433 |
| |
|
|
Clamps for Automotive & Industrial Applications |
|
|
| |
360 |
|
Pfeiffer Vacuum |
|
39,709 |
| |
|
|
Vacuum Pumps |
|
|
| |
220 |
|
CTS Eventim |
|
7,459 |
| |
|
|
Event Ticket Sales |
|
|
| |
|
|
|
|
347,813 |
| |
|
|
> Sweden 6.2% |
|
|
| |
16,100 |
|
Cavotec |
|
72,744 |
| |
|
|
Specialized Equipment to Ports, Airports & Mines |
|
|
| |
2,547 |
|
Hexagon |
|
69,558 |
| |
|
|
Design, Measurement & Visualization Software & Equipment |
|
|
| |
5,861 |
|
Sweco |
|
69,254 |
| |
|
|
Engineering Consultants |
|
|
| |
1,506 |
|
Unibet |
|
52,576 |
| |
|
|
European Online Gaming Operator |
|
|
| |
|
|
|
|
264,132 |
| |
Number of Shares |
|
|
|
Value |
| |
|
|
> Italy 2.9% |
|
|
| |
6,000 |
|
Pirelli |
|
$ |
62,952 |
|
|
|
Global Tire Supplier |
|
|
| |
21,860 |
|
Geox |
|
60,862 |
| |
|
|
Apparel & Shoe Maker |
|
|
| |
|
|
|
|
123,814 |
| |
|
|
> Norway 2.8% |
|
|
| |
6,744 |
|
Atea |
|
75,126 |
| |
|
|
Leading Nordic IT Hardware/Software Reseller & Installation Company |
|
|
| |
2,000 |
|
Subsea 7 |
|
47,003 |
| |
|
|
Offshore Subsea Contractor |
|
|
| |
|
|
|
|
122,129 |
| |
|
|
> Denmark 2.0% |
|
|
| |
200 |
|
SimCorp (a) |
|
53,738 |
| |
|
|
Software for Investment Managers |
|
|
| |
1,000 |
|
Jyske Bank (b) |
|
34,128 |
| |
|
|
Danish Bank |
|
|
| |
|
|
|
|
87,866 |
| |
|
|
> Finland 1.8% |
|
|
| |
1,151 |
|
Vacon |
|
77,459 |
| |
|
|
Leading Independent Manufacturer of Variable Speed Alternating Current Drives |
|
|
| |
|
|
|
|
|
| |
|
|
> Spain 1.4% |
|
|
| |
8,524 |
|
Dia |
|
58,959 |
| |
|
|
Leading Hard Discounter in Spain, Latin America & the Eastern Mediterranean |
|
|
| |
|
|
|
|
|
| |
|
|
> Russia 1.3% |
|
|
| |
2,381 |
|
Yandex (b) |
|
55,049 |
| |
|
|
Search Engine for Russian & Turkish Languages |
|
|
| |
|
|
|
|
|
| |
|
|
> Iceland 1.3% |
|
|
| |
43,750 |
|
Marel |
|
54,818 |
| |
|
|
Largest Manufacturer of Poultry & Fish Processing Equipment |
|
|
| |
|
|
|
|
|
| |
|
|
> Belgium 1.1% |
|
|
| |
728 |
|
EVS Broadcast Equipment |
|
46,715 |
| |
|
|
Digital Live Mobile Production Software & Systems |
|
|
| |
|
|
|
|
|
| |
|
|
> Portugal 1.0% |
|
|
| |
14,342 |
|
Redes Energéticas Nacionais |
|
41,365 |
| |
|
|
Portuguese Power Transmission & Gas Transportation |
|
|
| |
|
|
|
|
|
| |
|
|
> Turkey 0.8% |
|
|
| |
1,994 |
|
Bizim Toptan |
|
34,054 |
| |
|
|
Cash & Carry Stores in Turkey |
|
|
| |
Europe: Total |
|
3,834,362 |
| |||
|
|
|
|
|
| |
Asia 3.6% |
|
|
| |||
|
|
> Indonesia 2.0% |
|
|
| |
98,638 |
|
Archipelago Resources (b) |
|
86,553 |
| |
|
|
Gold Mining Projects in Indonesia, Vietnam & the Philippines |
|
|
| |
|
|
|
|
|
| |
|
|
> Hong Kong 1.6% |
|
|
| |
22,800 |
|
LOccitane International |
|
69,488 |
| |
|
|
Skin Care & Cosmetics Producer |
|
|
| |
Asia: Total |
|
156,041 |
| |||
|
|
|
|
|
| |
Other Countries 1.1% |
|
|
| |||
|
|
> Canada 1.1% |
|
|
| |
3,632 |
|
Alliance Grain Traders |
|
46,408 |
| |
|
|
Global Leader in Pulse Processing & Distribution |
|
|
| |
Other Countries: Total |
|
46,408 |
| |||
|
|
|
|
|
| |
Total Equities: 94.3% (Cost: $3,570,917) |
|
4,036,811 |
(c) | |||
|
|
|
| |||
Short-Term Investments: 6.2% |
|
|
| |||
266,815 |
|
J.P. Morgan U.S. Government Money Market Fund - Agency Shares (7 day yield of 0.01%) |
|
266,815 |
| |
Total Short-Term Investments: 6.2% (Cost: $266,815) |
|
266,815 |
| |||
|
|
|
|
|
| |
Securities Lending Collateral: 2.2% |
|
|
| |||
95,902 |
|
Dreyfus Government Cash Management Fund - Institutional Shares (7 day yield of 0.01%) (d) |
|
95,902 |
| |
|
|
|
|
|
| |
Total Securities Lending Collateral: 2.2% (Cost: $95,902) |
|
95,902 |
| |||
|
|
|
| |||
Total Investments: 102.7% |
|
4,399,528 |
(f) | |||
|
|
|
| |||
Obligation to Return Collateral for Securities Loaned: (2.2)% |
|
(95,902 |
) | |||
|
|
|
| |||
Cash and Other Assets Less Liabilities: (0.5)% |
|
(22,845 |
) | |||
|
|
|
| |||
Net Assets: 100.0% |
|
$ |
4,280,781 |
|
REIT - Real Estate Investment Trust
> Notes to Statement of Investments
(a) All or a portion of this security was on loan at March 31, 2013. The total market value of securities on loan at March 31, 2013 was $88,872.
(b) Non-income producing security.
(c) On March 31, 2013, the Funds total investments were denominated in currencies as follows:
Currency |
|
Value |
|
Percentage |
| |
Euro |
|
$ |
1,594,300 |
|
37.2 |
|
British Pound |
|
1,301,327 |
|
30.4 |
| |
Swiss Franc |
|
359,520 |
|
8.4 |
| |
Swedish Krona |
|
264,132 |
|
6.2 |
| |
Other currencies less than 5% of total net assets |
|
517,532 |
|
12.1 |
| |
Total Equities |
|
$ |
4,036,811 |
|
94.3 |
|
(d) Investment made with cash collateral received from securities lending activity.
(e) At March 31, 2013, for federal income tax purposes, the cost of investments was $3,933,634 and net unrealized appreciation was $465,894 consisting of gross unrealized appreciation of $568,374 and gross unrealized depreciation of $102,480.
(f) Securities are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.
Fair Value Measurements
Various inputs are used in determining the value of the Funds investments, following the input prioritization hierarchy established by accounting principles generally accepted in the United States of America (GAAP). These inputs are summarized in the three broad levels listed below:
· Level 1 quoted prices in active markets for identical securities
· Level 2 prices determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others)
· Level 3 prices determined using significant unobservable inputs where quoted prices or observable inputs are unavailable or less reliable (including managements own assumptions about the factors market participants would use in pricing an investment)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
Examples of the types of securities in which the Fund would typically invest and how they are classified within this hierarchy are as follows. Typical Level 1 securities include exchange traded domestic equities, mutual funds whose NAVs are published each day and exchange traded foreign equities that are not statistically fair valued. Typical Level 2 securities include exchange traded foreign equities that are statistically fair valued, forward foreign currency exchange contracts and short-term investments valued at amortized cost. Additionally, securities fair valued by the Valuation Committee (the Committee) of the Funds Board of Trustees (the Board) that rely on significant observable inputs are also included in Level 2. Typical Level 3 securities include any security fair valued by the Committee that relies on significant unobservable inputs.
Under the direction of the Board, the Committee is responsible for carrying out the valuation procedures approved by the Board.
The Committee meets as necessary, and no less frequently than quarterly, to determine fair values for securities for which market quotations are not readily available or for which the investment manager believes that available market quotations are unreliable, to review the appropriateness of the Trusts Portfolio Pricing Policy and the pricing procedures of the investment manager (the Policies), and to review the continuing appropriateness of the current value of any security subject to the Policies. The Policies address, among other things: circumstances under which market quotations will be deemed readily available; selection of third party pricing vendors; appropriate pricing methodologies; events that require fair valuation and fair value techniques; and circumstances under which securities will be deemed to pose a potential for stale pricing, including when securities are illiquid, restricted, or in default. The Committee may also meet to discuss additional valuation matters, which may include review of back-testing results, review of time-sensitive information or approval of other valuation related actions, and to review the appropriateness of the Policies.
For investments categorized as Level 3, the significant unobservable inputs used in the fair value measurement of the Funds securities may include: (i) data specific to the issuer or comparable issuers, (ii) general market or specific sector news and (iii) quoted prices and specific or similar security transactions. The Committee considers this data and any changes from prior periods in order to assess the reasonableness of observable and unobservable inputs, any assumptions or internal models used to value those securities and changes in fair value. Significant changes in any of these factors could result in lower or higher fair value measurements. Various factors impact the frequency of monitoring (which may occur as often as daily), however the Committee may determine that changes to inputs, assumptions and models are not required with the same frequency.
> Notes to Statement of Investments
The following table summarizes the inputs used, as of March 31, 2013, in valuing the Funds assets:
Investment Type |
|
Quoted Prices |
|
Other |
|
Significant |
|
Total |
| ||||
Equities |
|
|
|
|
|
|
|
|
| ||||
Europe |
|
$ |
102,770 |
|
$ |
3,731,592 |
|
$ |
|
|
$ |
3,834,362 |
|
Asia |
|
|
|
156,041 |
|
|
|
156,041 |
| ||||
Other Countries |
|
46,408 |
|
|
|
|
|
46,408 |
| ||||
Total Equities |
|
149,178 |
|
3,887,633 |
|
|
|
4,036,811 |
| ||||
Total Short-Term Investments |
|
266,815 |
|
|
|
|
|
266,815 |
| ||||
Total Securities Lending Collateral |
|
95,902 |
|
|
|
|
|
95,902 |
| ||||
Total Investments |
|
$ |
511,895 |
|
$ |
3,887,633 |
|
$ |
|
|
$ |
4,399,528 |
|
The Funds assets assigned to the Level 2 input category are generally valued using a market approach, in which a securitys value is determined through its correlation to prices and information from observable market transactions for similar or identical assets. Foreign equities are generally valued at the last sale price on the foreign exchange or market on which they trade. The Fund may use a statistical fair valuation model, in accordance with the policy adopted by the Board, provided by an independent third party to value securities principally traded in foreign markets in order to adjust for possible stale pricing that may occur between the close of the foreign exchanges and the time for valuation. These models take into account available market data including intraday index, ADR, and ETF movements.
There were no transfers of financial assets between levels 1 and 2 during the period.
Item 2. Controls and Procedures.
(a) The registrants principal executive officer and principal financial officers, based on their evaluation of the registrants disclosure controls and procedures as of a date within 90 days of the filing of this report, have concluded that such controls and procedures are adequately designed to ensure that information required to be disclosed by the registrant in Form N-Q is accumulated and communicated to the registrants management, including the principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.
(b) There was no change in the registrants internal control over financial reporting that occurred during the registrants second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting.
Item 3. Exhibits.
Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) attached hereto as Exhibit 99.CERT.
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.
(registrant) |
|
Columbia Acorn Trust |
| ||
|
|
| |||
|
|
| |||
By (Signature and Title) |
|
/s/ Charles P. McQuaid |
| ||
|
Charles P. McQuaid, President |
| |||
|
|
| |||
|
|
| |||
Date |
|
May 22, 2013 |
| ||
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 (Signature and Title) |
|
/s/ Charles P. McQuaid |
| ||
|
Charles P. McQuaid, President |
| |||
|
|
| |||
|
|
| |||
Date |
|
May 22, 2013 |
| ||
|
|
| |||
|
|
| |||
By (Signature and Title) |
|
/s/ Bruce H. Lauer |
| ||
|
Bruce H. Lauer, Treasurer |
| |||
|
|
| |||
|
|
| |||
Date |
|
May 22, 2013 |
| ||
Exhibit 99.CERT
I, Bruce H. Lauer, certify that:
1. I have reviewed this report on Form N-Q of Columbia Acorn 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 schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
4. The registrants 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 registrants 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 on such evaluation; and
(d) disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and
5. The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the registrants 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 registrants 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 registrants internal control over financial reporting.
Date: |
May 22, 2013 |
/s/ Bruce H. Lauer |
|
|
Bruce H. Lauer, Treasurer |
I, Charles P. McQuaid, certify that:
1. I have reviewed this report on Form N-Q of Columbia Acorn 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 schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
4. The registrants 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 registrants 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 on such evaluation; and
(d) disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and
5. The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the registrants 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 registrants 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 registrants internal control over financial reporting.
Date: |
May 22, 2013 |
/s/ Charles P. McQuaid |
|
|
Charles P. McQuaid, President |