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OMB APPROVAL | ||
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OMB Number: |
3235-0578 | |
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Expires: |
January 16, 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
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Investment Company Act file number |
811-01829 | |||||||
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Columbia Acorn Trust | ||||||||
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(Exact name of registrant as specified in charter) | ||||||||
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227 W. Monroe Street, Suite 3000, Chicago, IL |
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60606 | ||||||
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(Address of principal executive offices) |
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(Zip code) | ||||||
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Mary C. Moynihan Perkins Coie LLP 700 13th Street, NW Suite 600 Washington, DC 20005 | ||||||||
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(Name and address of agent for service) | ||||||||
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Registrant’s telephone number, including area code: |
312-634-9200 |
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Date of fiscal year end: |
December 31 |
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Date of reporting period: |
September 30, 2013 |
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Item 1. Schedule of Investments.
Columbia Acorn Fund
Statement of Investments (Unaudited), September 30, 2013
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Number of Shares |
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|
Value |
| |
|
Equities: 97.0% |
|
|
| |||
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Information 27.3% |
|
|
| |||
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> Business Software 6.5% |
|
|
| |
|
2,350,000 |
|
Ansys (a) |
|
$ |
203,322,000 |
|
|
|
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Simulation Software for Engineers & Designers |
|
|
| |
|
4,500,000 |
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Informatica (a) |
|
175,365,000 |
| |
|
|
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Enterprise Data Integration Software |
|
|
| |
|
2,700,000 |
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Micros Systems (a) |
|
134,838,000 |
| |
|
|
|
Information Systems for Hotels, Restaurants & Retailers |
|
|
| |
|
4,162,000 |
|
Hexagon (Sweden) |
|
125,506,963 |
| |
|
|
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Design, Measurement & Visualization Software & Equipment |
|
|
| |
|
700,000 |
|
Concur Technologies (a) |
|
77,350,000 |
| |
|
|
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Web Enabled Cost & Expense Management Software |
|
|
| |
|
800,000 |
|
Tyler Technologies (a) |
|
69,976,000 |
| |
|
|
|
Financial, Tax, Court & Document Management Systems for Local Governments |
|
|
| |
|
900,000 |
|
SPS Commerce (a)(b) |
|
60,228,000 |
| |
|
|
|
Supply Chain Management Software Delivered Via the Web |
|
|
| |
|
550,000 |
|
NetSuite (a) |
|
59,367,000 |
| |
|
|
|
End-to-end IT Systems Solution Delivered Over the Web |
|
|
| |
|
1,100,000 |
|
DemandWare (a) |
|
50,963,000 |
| |
|
|
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E-Commerce Website Solution for Retailers & Apparel Manufacturers |
|
|
| |
|
2,000,000 |
|
RealPage (a) |
|
46,320,000 |
| |
|
|
|
Software for Managing Rental Properties Delivered Via the Web |
|
|
| |
|
1,725,971 |
|
Tangoe (a) |
|
41,181,668 |
| |
|
|
|
Software Solution for Managing Communication Expense & Devices |
|
|
| |
|
750,000 |
|
Jack Henry & Associates |
|
38,707,500 |
| |
|
|
|
IT Systems & Outsourced IT Solutions for Financial Institutions |
|
|
| |
|
697,000 |
|
Solera Holdings |
|
36,850,390 |
| |
|
|
|
Software for Automotive Insurance Claims Processing |
|
|
| |
|
900,000 |
|
Blackbaud |
|
35,136,000 |
| |
|
|
|
Software & Services for Non-profits |
|
|
| |
|
700,000 |
|
Red Hat (a) |
|
32,298,000 |
| |
|
|
|
Maintenance & Support for Opensource Operating System & Middleware |
|
|
| |
|
1,200,000 |
|
Constant Contact (a) |
|
28,428,000 |
| |
|
|
|
Email & Other Marketing Campaign Management Systems Delivered Over Web |
|
|
| |
|
3,200,000 |
|
InContact (a)(b) |
|
26,464,000 |
| |
|
|
|
Call Center Systems Delivered Via the Web & Telco Services |
|
|
| |
|
801,748 |
|
Webgroup.com (a) |
|
25,928,531 |
| |
|
|
|
Website Creation & Management for Small Businesses |
|
|
| |
|
610,000 |
|
Envestnet (a) |
|
18,910,000 |
| |
|
|
|
Technology Platform for Investment Advisors |
|
|
| |
|
1,000,000 |
|
Exa (a)(b) |
|
15,490,000 |
| |
|
|
|
Simulation Software |
|
|
| |
|
1,700,000 |
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Bazaarvoice (a)(c) |
|
15,436,000 |
| |
|
|
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Platform for Managing Consumer Interaction Via the Web |
|
|
| |
|
610,000 |
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E2Open (a)(c) |
|
13,664,000 |
| |
|
|
|
Supply Chain Management Software & Supplier/Partner Network |
|
|
| |
|
|
|
|
|
1,331,730,052 |
| |
|
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|
> Mobile Communications 2.9% |
|
|
| |
|
3,800,000 |
|
Crown Castle International (a) |
|
277,514,000 |
| |
|
|
|
Communications Towers |
|
|
| |
|
3,400,000 |
|
SBA Communications (a) |
|
273,564,000 |
| |
|
|
|
Communications Towers |
|
|
| |
|
22,100,000 |
|
Globalstar (a)(b)(c) |
|
24,089,000 |
| |
|
|
|
Satellite Mobile Voice & Data Carrier |
|
|
| |
|
9,662,000 |
|
Far EasTone Telecom (Taiwan) |
|
24,072,658 |
| |
|
|
|
Taiwan’s Third Largest Mobile Operator |
|
|
| |
|
|
|
|
|
599,239,658 |
| |
|
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> Instrumentation 2.9% |
|
|
| |
|
1,600,000 |
|
Mettler-Toledo International (a)(b) |
|
384,144,000 |
| |
|
|
|
Laboratory Equipment |
|
|
| |
|
4,070,000 |
|
Trimble Navigation (a) |
|
120,919,700 |
| |
|
|
|
GPS-based Instruments |
|
|
| |
|
1,620,000 |
|
IPG Photonics (c) |
|
91,222,200 |
| |
|
|
|
Fiber Lasers |
|
|
| |
|
|
|
|
|
596,285,900 |
| |
|
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> Computer Hardware & Related Equipment 2.6% |
|
|
| |
|
3,415,000 |
|
Amphenol |
|
264,252,700 |
| |
|
|
|
Electronic Connectors |
|
|
| |
|
4,550,000 |
|
II-VI (a)(b) |
|
85,631,000 |
| |
|
|
|
Laser Optics & Specialty Materials |
|
|
| |
|
1,365,000 |
|
Zebra Technologies (a) |
|
62,148,450 |
| |
|
|
|
Bar Code Printers |
|
|
| |
|
310,000 |
|
Stratasys (a)(c) |
|
31,390,600 |
| |
|
|
|
Rapid Prototyping & Direct Digital Manufacturing Systems |
|
|
| |
|
280,000 |
|
Gemalto (France) |
|
30,065,207 |
| |
|
|
|
Digital Security Solutions |
|
|
| |
|
900,000 |
|
Netgear (a) |
|
27,774,000 |
| |
|
|
|
Networking Products for Small Business & Home |
|
|
| |
|
400,000 |
|
Rogers (a) |
|
23,792,000 |
| |
|
|
|
Printed Circuit Materials & High-performance Foams |
|
|
| |
|
|
|
|
|
525,053,957 |
| |
|
|
|
> Telephone & Data Services 2.1% |
|
|
| |
|
9,500,000 |
|
tw telecom (a)(b) |
|
283,717,500 |
| |
|
|
|
Fiber Optic Telephone/Data Services |
|
|
| |
|
2,200,000 |
|
Cogent Communications |
|
70,950,000 |
| |
|
|
|
Internet Data Pipelines |
|
|
| |
|
3,500,000 |
|
Windstream (c) |
|
28,000,000 |
| |
|
|
|
Business & Rural Telecom Services |
|
|
| |
|
2,271,214 |
|
Boingo Wireless (a)(b) |
|
15,898,498 |
| |
|
|
|
Wholesale & Retail Wi-Fi Networks |
|
|
| |
|
1,500,000 |
|
General Communications (a) |
|
14,280,000 |
| |
|
|
|
Commercial Communication & Consumer CATV, Web & Phone in Alaska |
|
|
| |
|
3,000,000 |
|
Towerstream (a)(c) |
|
8,580,000 |
| |
|
|
|
High Speed Wireless, Rooftop Antenna Space & Wi-Fi Offload |
|
|
| |
|
|
|
|
|
421,425,998 |
| |
|
Number of Shares |
|
|
|
Value |
| |
|
|
|
> Computer Services 2.0% |
|
|
| |
|
4,500,000 |
|
iGATE (a)(b) |
|
$ |
124,920,000 |
|
|
|
|
IT & Business Process Outsourcing Services |
|
|
| |
|
3,419,000 |
|
Genpact (a) |
|
64,550,720 |
| |
|
|
|
Business Process Outsourcing |
|
|
| |
|
2,125,000 |
|
Virtusa (a)(b) |
|
61,752,500 |
| |
|
|
|
Offshore IT Outsourcing |
|
|
| |
|
1,618,000 |
|
ExlService Holdings (a) |
|
46,080,640 |
| |
|
|
|
Business Process Outsourcing |
|
|
| |
|
2,000,000 |
|
WNS - ADR (India) (a) |
|
42,440,000 |
| |
|
|
|
Offshore Business Process Outsourcing Services |
|
|
| |
|
430,000 |
|
Syntel |
|
34,443,000 |
| |
|
|
|
Offshore IT Services |
|
|
| |
|
3,849,207 |
|
Hackett Group (b) |
|
27,444,846 |
| |
|
|
|
IT Integration & Best Practice Research |
|
|
| |
|
1,100,000 |
|
Telecity (United Kingdom) |
|
14,780,566 |
| |
|
|
|
European Data Center Provider |
|
|
| |
|
|
|
|
|
416,412,272 |
| |
|
|
|
> Internet Related 1.3% |
|
|
| |
|
1,325,000 |
|
TripAdvisor (a) |
|
100,488,000 |
| |
|
|
|
Online Travel Research |
|
|
| |
|
2,555,000 |
|
Pandora Media (a)(c) |
|
64,207,150 |
| |
|
|
|
Streaming Music |
|
|
| |
|
1,344,707 |
|
RetailMeNot (a) |
|
47,831,228 |
| |
|
|
|
Digital Coupon Marketplace |
|
|
| |
|
175,000 |
|
Equinix (a) |
|
32,138,750 |
| |
|
|
|
Network Neutral Data Centers |
|
|
| |
|
727,000 |
|
Yandex (Russia) (a) |
|
26,477,340 |
| |
|
|
|
Search Engine for Russian & Turkish Languages |
|
|
| |
|
|
|
|
|
271,142,468 |
| |
|
|
|
> Gaming Equipment & Services 1.3% |
|
|
| |
|
3,537,000 |
|
Bally Technologies (a)(b) |
|
254,876,220 |
| |
|
|
|
Slot Machines & Software |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Business Information & Marketing Services 1.2% |
|
|
| |
|
1,900,000 |
|
Verisk Analytics (a) |
|
123,424,000 |
| |
|
|
|
Risk & Decision Analytics |
|
|
| |
|
4,025,000 |
|
Navigant Consulting (a)(b) |
|
62,226,500 |
| |
|
|
|
Financial Consulting Firm |
|
|
| |
|
2,561,123 |
|
RPX (a) |
|
44,896,486 |
| |
|
|
|
Patent Aggregation & Defensive Patent Consulting |
|
|
| |
|
200,000 |
|
Bankrate (a) |
|
4,114,000 |
| |
|
|
|
Internet Advertising for the Insurance, Credit Card & Banking Markets |
|
|
| |
|
|
|
|
|
234,660,986 |
| |
|
|
|
> Semiconductors & Related Equipment 1.0% |
|
|
| |
|
5,390,000 |
|
Atmel (a) |
|
40,101,600 |
| |
|
|
|
Microcontrollers, Radio Frequency & Memory Semiconductors |
|
|
| |
|
1,240,000 |
|
Monolithic Power Systems |
|
37,547,200 |
| |
|
|
|
High Performance Analog & Mixed Signal Integrated Circuits |
|
|
| |
|
420,000 |
|
Littelfuse |
|
32,852,400 |
| |
|
|
|
Little Fuses |
|
|
| |
|
469,000 |
|
Cree (a) |
|
28,229,110 |
| |
|
|
|
LED Lighting, Components & Chips |
|
|
| |
|
400,000 |
|
Hittite Microwave (a) |
|
26,140,000 |
| |
|
|
|
Radio Frequency, Microwave & Millimeterwave Semiconductors |
|
|
| |
|
615,000 |
|
Ultratech (a) |
|
18,634,500 |
| |
|
|
|
Semiconductor Equipment |
|
|
| |
|
2,430,000 |
|
ON Semiconductor (a) |
|
17,739,000 |
| |
|
|
|
Mixed Signal & Power Management Semiconductors |
|
|
| |
|
360,000 |
|
Semtech (a) |
|
10,796,400 |
| |
|
|
|
Analog Semiconductors |
|
|
| |
|
|
|
|
|
212,040,210 |
| |
|
|
|
> Telecommunications Equipment 0.8% |
|
|
| |
|
640,000 |
|
F5 Networks (a) |
|
54,886,400 |
| |
|
|
|
Internet Traffic Management Equipment |
|
|
| |
|
2,025,000 |
|
Finisar (a) |
|
45,825,750 |
| |
|
|
|
Optical Subsystems & Components |
|
|
| |
|
2,030,000 |
|
Ixia (a) |
|
31,810,100 |
| |
|
|
|
Telecom Network Test Equipment |
|
|
| |
|
1,925,000 |
|
Infinera (a) |
|
21,771,750 |
| |
|
|
|
Optical Networking Equipment |
|
|
| |
|
910,000 |
|
CalAmp (a) |
|
16,043,300 |
| |
|
|
|
Machine-to-machine Communications |
|
|
| |
|
|
|
|
|
170,337,300 |
| |
|
|
|
> Financial Processors 0.7% |
|
|
| |
|
1,700,000 |
|
Global Payments |
|
86,836,000 |
| |
|
|
|
Credit Card Processor |
|
|
| |
|
900,000 |
|
Liquidity Services (a)(c) |
|
30,204,000 |
| |
|
|
|
E-Auctions for Surplus & Salvage Goods |
|
|
| |
|
5,000,000 |
|
Singapore Exchange (Singapore) |
|
28,962,413 |
| |
|
|
|
Singapore Equity & Derivatives Market Operator |
|
|
| |
|
|
|
|
|
146,002,413 |
| |
|
|
|
> Electronics Distribution 0.6% |
|
|
| |
|
3,125,000 |
|
Avnet |
|
130,343,750 |
| |
|
|
|
Electronic Components Distribution |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Contract Manufacturing 0.5% |
|
|
| |
|
3,800,000 |
|
Sanmina-SCI (a) |
|
66,462,000 |
| |
|
|
|
Electronic Manufacturing Services |
|
|
| |
|
960,000 |
|
Plexus (a) |
|
35,712,000 |
| |
|
|
|
Electronic Manufacturing Services |
|
|
| |
|
|
|
|
|
102,174,000 |
| |
|
|
|
> CATV 0.5% |
|
|
| |
|
800,000 |
|
Liberty Global Series A (a) |
|
63,480,000 |
| |
|
|
|
Cable TV Franchises Outside the U.S. |
|
|
| |
|
400,000 |
|
Discovery Series C (a) |
|
31,248,000 |
| |
|
|
|
Cable TV Programming |
|
|
| |
|
|
|
|
|
94,728,000 |
| |
|
|
|
> Advertising 0.2% |
|
|
| |
|
1,000,000 |
|
Lamar Advertising (a) |
|
47,030,000 |
| |
|
|
|
Outdoor Advertising |
|
|
| |
|
100,000 |
|
Tree.com |
|
2,626,000 |
| |
|
|
|
Internet Advertising for Mortgage, Education & Auto Markets |
|
|
| |
|
|
|
|
|
49,656,000 |
| |
|
Number of Shares |
|
|
|
Value |
| |
|
|
|
> Entertainment Programming 0.2% |
|
|
| |
|
1,100,000 |
|
IMAX (Canada) (a)(c) |
|
$ |
33,264,000 |
|
|
|
|
IMAX Movies, Theatre Equipment & Theatre Joint Ventures |
|
|
| |
|
Information: Total |
|
5,589,373,184 |
| |||
|
Industrial Goods & Services 20.6% |
|
|
| |||
|
|
|
> Machinery 12.2% |
|
|
| |
|
9,900,000 |
|
Ametek |
|
455,598,000 |
| |
|
|
|
Aerospace/Industrial Instruments |
|
|
| |
|
8,400,000 |
|
Donaldson (b) |
|
320,292,000 |
| |
|
|
|
Industrial Air Filtration |
|
|
| |
|
3,400,000 |
|
Nordson (b) |
|
250,342,000 |
| |
|
|
|
Dispensing Systems for Adhesives & Coatings |
|
|
| |
|
3,230,000 |
|
Moog (a)(b) |
|
189,504,100 |
| |
|
|
|
Motion Control Products for Aerospace, Defense & Industrial Markets |
|
|
| |
|
3,725,000 |
|
Kennametal |
|
169,860,000 |
| |
|
|
|
Consumable Cutting Tools |
|
|
| |
|
3,063,000 |
|
HEICO (b) |
|
153,578,820 |
| |
|
|
|
FAA Approved Aircraft Replacement Parts |
|
|
| |
|
3,200,000 |
|
Generac |
|
136,448,000 |
| |
|
|
|
Standby Power Generators |
|
|
| |
|
1,660,000 |
|
Pall |
|
127,886,400 |
| |
|
|
|
Life Science, Water & Industrial Filtration |
|
|
| |
|
2,185,000 |
|
Oshkosh Corporation (a) |
|
107,021,300 |
| |
|
|
|
Specialty Truck Manufacturer |
|
|
| |
|
1,610,000 |
|
Toro |
|
87,503,500 |
| |
|
|
|
Turf Maintenance Equipment |
|
|
| |
|
1,570,000 |
|
Clarcor |
|
87,182,100 |
| |
|
|
|
Mobile Equipment & Industrial Filters |
|
|
| |
|
2,300,000 |
|
ESCO Technologies (b) |
|
76,429,000 |
| |
|
|
|
Automatic Electric Meter Readers |
|
|
| |
|
1,200,000 |
|
Wabtec |
|
75,444,000 |
| |
|
|
|
Freight & Transit Component Supplier |
|
|
| |
|
750,000 |
|
WABCO Holdings (a) |
|
63,195,000 |
| |
|
|
|
Truck & Bus Component Supplier |
|
|
| |
|
435,000 |
|
Valmont Industries |
|
60,425,850 |
| |
|
|
|
Center Pivot Irrigation Systems & Utility Poles |
|
|
| |
|
247,000 |
|
Middleby (a) |
|
51,600,770 |
| |
|
|
|
Manufacturer of Cooking Equipment |
|
|
| |
|
600,000 |
|
Neopost (France) (c) |
|
43,694,364 |
| |
|
|
|
Postage Meter Machines |
|
|
| |
|
1,000,000 |
|
Polypore International (a)(c) |
|
40,970,000 |
| |
|
|
|
Battery Separators & Filtration Media |
|
|
| |
|
10,000,000 |
|
Marel (Iceland) |
|
10,633,879 |
| |
|
|
|
Largest Manufacturer of Poultry & Fish Processing Equipment |
|
|
| |
|
|
|
|
|
2,507,609,083 |
| |
|
|
|
> Other Industrial Services 1.8% |
|
|
| |
|
2,700,000 |
|
LKQ (a) |
|
86,022,000 |
| |
|
|
|
Alternative Auto Parts Distribution |
|
|
| |
|
1,800,000 |
|
Expeditors International of Washington |
|
79,308,000 |
| |
|
|
|
International Freight Forwarder |
|
|
| |
|
1,500,000 |
|
Forward Air |
|
60,525,000 |
| |
|
|
|
Freight Transportation Between Airports |
|
|
| |
|
1,600,000 |
|
Mobile Mini (a) |
|
54,496,000 |
| |
|
|
|
Portable Storage Units Leasing |
|
|
| |
|
1,375,000 |
|
KAR Auction Services |
|
38,788,750 |
| |
|
|
|
Auto Auctions |
|
|
| |
|
2,400,000 |
|
CAE (Canada) (c) |
|
26,282,220 |
| |
|
|
|
Flight Simulator Equipment & Training Centers |
|
|
| |
|
700,000 |
|
Echo Global Logistics (a) |
|
14,658,000 |
| |
|
|
|
Third Party Logistics |
|
|
| |
|
1,520,957 |
|
Acorn Energy (b)(c) |
|
8,973,646 |
| |
|
|
|
Fiber Optic Oil Well Monitoring & Evaluation |
|
|
| |
|
70,313 |
|
TrueBlue (a) |
|
1,688,215 |
| |
|
|
|
Temporary Industrial Labor |
|
|
| |
|
|
|
|
|
370,741,831 |
| |
|
|
|
> Construction 1.5% |
|
|
| |
|
2,680,000 |
|
Chicago Bridge & Iron |
|
181,623,600 |
| |
|
|
|
Engineering & Construction for Liquefied Natural Gas & Petrochemicals |
|
|
| |
|
99,000 |
|
NVR (a) |
|
90,999,810 |
| |
|
|
|
Homebuilder |
|
|
| |
|
930,000 |
|
Fortune Brands Home & Security |
|
38,715,900 |
| |
|
|
|
Home Building Supplies & Small Locks |
|
|
| |
|
|
|
|
|
311,339,310 |
| |
|
|
|
> Industrial Materials & Specialty Chemicals 1.5% |
|
|
| |
|
1,880,000 |
|
Drew Industries (b) |
|
85,615,200 |
| |
|
|
|
RV & Manufactured Home Components |
|
|
| |
|
1,050,000 |
|
FMC Corporation |
|
75,306,000 |
| |
|
|
|
Niche Specialty Chemicals |
|
|
| |
|
1,288,000 |
|
Novozymes (Denmark) |
|
49,271,589 |
| |
|
|
|
Industrial Enzymes |
|
|
| |
|
1,200,000 |
|
Polyone |
|
36,852,000 |
| |
|
|
|
Intermediate Stage Chemicals Producer |
|
|
| |
|
2,218,700 |
|
Kansai Paint (Japan) |
|
29,484,776 |
| |
|
|
|
Paint Producer in Japan, India, China & Southeast Asia |
|
|
| |
|
673,000 |
|
Sociedad Quimica y Minera de Chile - ADR (Chile) |
|
20,560,150 |
| |
|
|
|
Producer of Specialty Fertilizers, Lithium & Iodine |
|
|
| |
|
400,000 |
|
Owens-Illinois (a) |
|
12,008,000 |
| |
|
|
|
Glass Packaging for Food & Beverages |
|
|
| |
|
|
|
|
|
309,097,715 |
| |
|
|
|
> Industrial Distribution 1.2% |
|
|
| |
|
1,620,000 |
|
WESCO International (a) |
|
123,978,600 |
| |
|
|
|
Industrial Distributor |
|
|
| |
|
2,320,000 |
|
MRC Global (a) |
|
62,176,000 |
| |
|
|
|
Industrial Distributor |
|
|
| |
|
405,841 |
|
Airgas |
|
43,039,438 |
| |
|
|
|
Industrial Gas Distributor |
|
|
| |
|
965,000 |
|
Titan Machinery (a)(c) |
|
15,507,550 |
| |
|
|
|
Agriculture & Construction Dealerships |
|
|
| |
|
|
|
|
|
244,701,588 |
| |
|
Number of Shares |
|
|
|
Value |
| |
|
|
|
> Electrical Components 1.0% |
|
|
| |
|
1,765,000 |
|
Acuity Brands |
|
$ |
162,415,300 |
|
|
|
|
Commercial Lighting Fixtures |
|
|
| |
|
1,065,000 |
|
Thermon (a) |
|
24,612,150 |
| |
|
|
|
Global Engineered Thermal Solutions |
|
|
| |
|
1,500,000 |
|
Ushio (Japan) |
|
18,681,853 |
| |
|
|
|
Industrial Light Sources |
|
|
| |
|
|
|
|
|
205,709,303 |
| |
|
|
|
> Outsourcing Services 0.7% |
|
|
| |
|
3,000,000 |
|
Quanta Services (a) |
|
82,530,000 |
| |
|
|
|
Electrical & Telecom Construction Services |
|
|
| |
|
1,400,000 |
|
Insperity (b) |
|
52,640,000 |
| |
|
|
|
Professional Employer Organization |
|
|
| |
|
|
|
|
|
135,170,000 |
| |
|
|
|
> Conglomerates 0.4% |
|
|
| |
|
2,747,253 |
|
Aalberts Industries (Netherlands) |
|
73,198,880 |
| |
|
|
|
Flow Control & Heat Treatment |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Waste Management 0.3% |
|
|
| |
|
1,500,000 |
|
Waste Connections |
|
68,115,000 |
| |
|
|
|
Solid Waste Management |
|
|
| |
|
Industrial Goods & Services: Total |
|
4,225,682,710 |
| |||
|
|
|
|
| |||
|
Consumer Goods & Services 15.2% |
|
|
| |||
|
|
|
> Retail 4.5% |
|
|
| |
|
1,385,000 |
|
ULTA (a) |
|
165,452,100 |
| |
|
|
|
Specialty Beauty Product Retailer |
|
|
| |
|
7,185,000 |
|
Pier 1 Imports (b) |
|
140,251,200 |
| |
|
|
|
Home Furnishing Retailer |
|
|
| |
|
1,975,000 |
|
Shutterfly (a)(b) |
|
110,363,000 |
| |
|
|
|
Internet Photo-centric Retailer |
|
|
| |
|
822,845 |
|
Fossil (a) |
|
95,647,503 |
| |
|
|
|
Watch Designer & Retailer |
|
|
| |
|
1,675,000 |
|
Williams-Sonoma |
|
94,135,000 |
| |
|
|
|
Home Goods & Furnishing Retailer |
|
|
| |
|
754,000 |
|
Casey’s General Stores |
|
55,419,000 |
| |
|
|
|
Owner/Operator of Convenience Stores |
|
|
| |
|
525,000 |
|
DSW |
|
44,793,000 |
| |
|
|
|
Branded Footwear Retailer |
|
|
| |
|
865,000 |
|
GameStop |
|
42,947,250 |
| |
|
|
|
Video Game Specialty Retailer |
|
|
| |
|
1,000,000 |
|
Urban Outfitters (a) |
|
36,770,000 |
| |
|
|
|
Multi-channel Apparel & Accessory Retailer |
|
|
| |
|
474,000 |
|
Restoration Hardware Holdings (a) |
|
30,027,900 |
| |
|
|
|
Specialty Home Furnishing Retailer |
|
|
| |
|
725,000 |
|
Abercrombie & Fitch |
|
25,643,250 |
| |
|
|
|
Teen Apparel Retailer |
|
|
| |
|
1,000,000 |
|
Fifth & Pacific Companies (a) |
|
25,130,000 |
| |
|
|
|
Global Lifestyle Brand |
|
|
| |
|
450,000 |
|
Five Below (a) |
|
19,687,500 |
| |
|
|
|
Specialty Retailer Targeting Pre-teen & Teen |
|
|
| |
|
546,000 |
|
Tile Shop Holdings (a) |
|
16,101,540 |
| |
|
|
|
Specialty Retailer of Tiles & Related Accessories |
|
|
| |
|
852,000 |
|
Massmart Holdings (South Africa) |
|
14,266,402 |
| |
|
|
|
General Merchandise, Food & Home Improvement Stores; Wal-Mart Subsidiary |
|
|
| |
|
1,371,366 |
|
Gaiam (a)(b) |
|
6,870,543 |
| |
|
|
|
Healthy Living Catalogs & E-Commerce, Non-theatrical Media |
|
|
| |
|
|
|
|
|
923,505,188 |
| |
|
|
|
> Travel 3.0% |
|
|
| |
|
4,400,000 |
|
Avis Budget Group (a) |
|
126,852,000 |
| |
|
|
|
Second Largest Car Rental Company |
|
|
| |
|
4,600,000 |
|
Hertz (a) |
|
101,936,000 |
| |
|
|
|
Largest U.S. Rental Car Operator |
|
|
| |
|
1,430,000 |
|
Vail Resorts |
|
99,213,400 |
| |
|
|
|
Ski Resort Operator & Developer |
|
|
| |
|
1,893,000 |
|
Choice Hotels |
|
81,758,670 |
| |
|
|
|
Franchisor of Budget Hotel Brands |
|
|
| |
|
2,030,000 |
|
Ryman Hospitality Properties (c) |
|
70,055,300 |
| |
|
|
|
Convention Hotels |
|
|
| |
|
1,100,000 |
|
Expedia |
|
56,969,000 |
| |
|
|
|
Online Travel Services Company |
|
|
| |
|
1,600,000 |
|
HomeAway (a) |
|
44,800,000 |
| |
|
|
|
Vacation Rental Online Marketplace |
|
|
| |
|
2,100,000 |
|
Localiza Rent A Car (Brazil) |
|
31,457,835 |
| |
|
|
|
Car Rental |
|
|
| |
|
|
|
|
|
613,042,205 |
| |
|
|
|
> Consumer Goods Distribution 1.2% |
|
|
| |
|
2,305,000 |
|
GNC Holdings |
|
125,922,150 |
| |
|
|
|
Specialty Retailer of Health & Wellness Products |
|
|
| |
|
2,015,000 |
|
Pool |
|
113,101,950 |
| |
|
|
|
Swimming Pool Supplies & Equipment Distributor |
|
|
| |
|
250,000 |
|
United Natural Foods (a) |
|
16,805,000 |
| |
|
|
|
Natural/Organic Food Distributor |
|
|
| |
|
|
|
|
|
255,829,100 |
| |
|
|
|
> Casinos & Gaming 1.2% |
|
|
| |
|
2,500,000 |
|
Melco Crown Entertainment - ADR (Hong Kong) (a) |
|
79,575,000 |
| |
|
|
|
Macau Casino Operator |
|
|
| |
|
20,000,000 |
|
Melco International (Hong Kong) |
|
53,751,121 |
| |
|
|
|
Macau Casino Operator |
|
|
| |
|
850,000 |
|
Penn National Gaming (a) |
|
47,056,000 |
| |
|
|
|
Regional Casino Operator |
|
|
| |
|
12,000,000 |
|
MGM China Holdings (Hong Kong) |
|
39,910,949 |
| |
|
|
|
Macau Casino Operator |
|
|
| |
|
40,000,000 |
|
Nagacorp (Cambodia) |
|
33,748,852 |
| |
|
|
|
Casino/Entertainment Complex in Cambodia |
|
|
| |
|
|
|
|
|
254,041,922 |
| |
|
|
|
> Apparel 1.2% |
|
|
| |
|
1,296,000 |
|
PVH |
|
153,822,240 |
| |
|
|
|
Apparel Wholesaler & Retailer |
|
|
| |
|
710,000 |
|
Deckers Outdoor (a) |
|
46,803,200 |
| |
|
|
|
Fashion Footwear Wholesaler |
|
|
| |
|
600,000 |
|
Steven Madden (a) |
|
32,298,000 |
| |
|
|
|
Wholesaler/Retailer of Fashion Footwear |
|
|
| |
|
Number of Shares |
|
|
|
Value |
| |
|
|
|
> Apparel—continued |
|
|
| |
|
2,620,000 |
|
Quiksilver (a) |
|
$ |
18,418,600 |
|
|
|
|
Action Sports Lifestyle Branded Apparel & Footwear |
|
|
| |
|
|
|
|
|
251,342,040 |
| |
|
|
|
> Furniture & Textiles 1.0% |
|
|
| |
|
3,669,000 |
|
Knoll (b) |
|
62,152,860 |
| |
|
|
|
Office Furniture |
|
|
| |
|
1,765,000 |
|
Herman Miller |
|
51,502,700 |
| |
|
|
|
Office Furniture |
|
|
| |
|
2,325,000 |
|
Interface |
|
46,128,000 |
| |
|
|
|
Modular Carpet |
|
|
| |
|
812,360 |
|
Caesarstone (Israel) (a) |
|
37,108,605 |
| |
|
|
|
Quartz Countertops |
|
|
| |
|
|
|
|
|
196,892,165 |
| |
|
|
|
> Restaurants 0.9% |
|
|
| |
|
2,000,000 |
|
AFC Enterprises (a)(b) |
|
87,180,000 |
| |
|
|
|
Popeye’s Restaurants |
|
|
| |
|
968,000 |
|
Domino’s Pizza |
|
65,775,600 |
| |
|
|
|
Franchisor of Pizza Restaurants |
|
|
| |
|
625,000 |
|
Fiesta Restaurant Group (a) |
|
23,537,500 |
| |
|
|
|
Owns/Operates Two Restaurant Chains: Pollo Tropical & Taco Cabana |
|
|
| |
|
|
|
|
|
176,493,100 |
| |
|
|
|
> Other Consumer Services 0.8% |
|
|
| |
|
2,280,000 |
|
Lifetime Fitness (a)(b) |
|
117,351,600 |
| |
|
|
|
Sport & Fitness Club Operator |
|
|
| |
|
17,000,000 |
|
Lifestyle International (Hong Kong) |
|
36,176,179 |
| |
|
|
|
Mid to High-end Department Store Operator in Hong Kong & China |
|
|
| |
|
800,000 |
|
Blackhawk Network (a)(b) |
|
19,224,000 |
| |
|
|
|
Third Party Distributer of Prepaid Content, Mostly Gift Cards |
|
|
| |
|
450,000 |
|
IFM Investments (Century 21 China RE) - ADR (China) (a) |
|
810,000 |
| |
|
|
|
Real Estate Services in China |
|
|
| |
|
|
|
|
|
173,561,779 |
| |
|
|
|
> Food & Beverage 0.5% |
|
|
| |
|
2,886,552 |
|
Boulder Brands (a) |
|
46,300,294 |
| |
|
|
|
Healthy Food Products |
|
|
| |
|
1,325,000 |
|
B&G Foods |
|
45,778,750 |
| |
|
|
|
Acquirer of Small Food Brands |
|
|
| |
|
1,665,270 |
|
GLG Life Tech (Canada) (a)(b) |
|
1,358,019 |
| |
|
|
|
Produce an All-natural Sweetener Extracted from the Stevia Plant |
|
|
| |
|
|
|
|
|
93,437,063 |
| |
|
|
|
> Other Durable Goods 0.4% |
|
|
| |
|
1,100,000 |
|
Select Comfort (a) |
|
26,785,000 |
| |
|
|
|
Specialty Mattresses |
|
|
| |
|
460,000 |
|
Cavco Industries (a)(b) |
|
26,197,000 |
| |
|
|
|
Manufactured Homes |
|
|
| |
|
472,500 |
|
Jarden (a) |
|
22,869,000 |
| |
|
|
|
Branded Household Products |
|
|
| |
|
|
|
|
|
75,851,000 |
| |
|
|
|
> Educational Services 0.3% |
|
|
| |
|
1,300,000 |
|
DeVry |
|
39,728,000 |
| |
|
|
|
Post-secondary Degree Services |
|
|
| |
|
500,000 |
|
ITT Educational Services (a)(c) |
|
15,500,000 |
| |
|
|
|
Post-secondary Degree Services |
|
|
| |
|
|
|
|
|
55,228,000 |
| |
|
|
|
> Nondurables 0.2% |
|
|
| |
|
1,170,000 |
|
Helen of Troy (a) |
|
51,714,000 |
| |
|
|
|
Personal Care, Housewares, Healthcare & Home Environment Products |
|
|
| |
|
Consumer Goods & Services: Total |
|
3,120,937,562 |
| |||
|
|
|
|
| |||
|
Finance 11.0% |
|
|
| |||
|
|
|
> Banks 4.0% |
|
|
| |
|
2,638,000 |
|
BOK Financial |
|
167,117,300 |
| |
|
|
|
Tulsa-based Southwest Bank |
|
|
| |
|
9,000,000 |
|
Associated Banc-Corp (b) |
|
139,410,000 |
| |
|
|
|
Midwest Bank |
|
|
| |
|
1,348,000 |
|
City National |
|
89,857,680 |
| |
|
|
|
Bank & Asset Manager |
|
|
| |
|
985,000 |
|
SVB Financial Group (a) |
|
85,074,450 |
| |
|
|
|
Bank to Venture Capitalists |
|
|
| |
|
2,860,000 |
|
MB Financial (b) |
|
80,766,400 |
| |
|
|
|
Chicago Bank |
|
|
| |
|
1,900,000 |
|
Hancock Holding |
|
59,622,000 |
| |
|
|
|
Gulf Coast Bank |
|
|
| |
|
5,323,500 |
|
Valley National Bancorp (c) |
|
52,968,825 |
| |
|
|
|
New Jersey/New York Bank |
|
|
| |
|
2,200,000 |
|
TCF Financial |
|
31,416,000 |
| |
|
|
|
Great Lakes Bank |
|
|
| |
|
1,162,000 |
|
Sandy Spring Bancorp |
|
27,028,120 |
| |
|
|
|
Baltimore & Washington, D.C. Bank |
|
|
| |
|
4,841,882 |
|
First Busey (b) |
|
25,226,205 |
| |
|
|
|
Illinois Bank |
|
|
| |
|
2,500,000 |
|
First Commonwealth |
|
18,975,000 |
| |
|
|
|
Western Pennsylvania Bank |
|
|
| |
|
811,295 |
|
Hudson Valley |
|
15,236,120 |
| |
|
|
|
Metro New York City Bank |
|
|
| |
|
900,000 |
|
OFG Bancorp |
|
14,571,000 |
| |
|
|
|
Puerto Rican Bank |
|
|
| |
|
2,136,500 |
|
TrustCo Bank |
|
12,733,540 |
| |
|
|
|
New York State Bank |
|
|
| |
|
|
|
|
|
820,002,640 |
| |
|
|
|
> Insurance 2.4% |
|
|
| |
|
8,900,000 |
|
CNO Financial Group |
|
128,160,000 |
| |
|
|
|
Life, Long-term Care & Medical Supplement Insurance |
|
|
| |
|
833,000 |
|
Allied World Holdings |
|
82,791,870 |
| |
|
|
|
Commercial Lines Insurance/Reinsurance |
|
|
| |
|
2,625,000 |
|
Selective Insurance Group |
|
64,312,500 |
| |
|
|
|
Commercial & Personal Lines Insurance |
|
|
| |
|
1,100,000 |
|
HCC Insurance Holdings |
|
48,202,000 |
| |
|
|
|
Specialty Insurance |
|
|
| |
|
1,500,000 |
|
Brown & Brown |
|
48,150,000 |
| |
|
|
|
Insurance Broker |
|
|
| |
|
400,000 |
|
RLI |
|
34,968,000 |
| |
|
|
|
Specialty Insurance |
|
|
| |
|
250,000 |
|
Enstar Group (a) |
|
34,150,000 |
| |
|
|
|
Insurance/Reinsurance & Related Services |
|
|
| |
|
Number of Shares |
|
|
|
Value |
| |
|
|
|
> Insurance—continued |
|
|
| |
|
10,837,000 |
|
Rand Merchant Insurance (South Africa) |
|
$ |
28,883,556 |
|
|
|
|
Directly Sold Property & Casualty Insurance; Holdings in Other Insurers |
|
|
| |
|
500,000 |
|
The Hanover Insurance Group |
|
27,660,000 |
| |
|
|
|
Commercial & Personal Lines Insurance |
|
|
| |
|
|
|
|
|
497,277,926 |
| |
|
|
|
> Brokerage & Money Management 1.7% |
|
|
| |
|
7,275,000 |
|
SEI Investments |
|
224,870,250 |
| |
|
|
|
Mutual Fund Administration & Investment Management |
|
|
| |
|
3,052,000 |
|
Eaton Vance |
|
118,509,160 |
| |
|
|
|
Specialty Mutual Funds |
|
|
| |
|
|
|
|
|
343,379,410 |
| |
|
|
|
> Finance Companies 1.7% |
|
|
| |
|
3,382,621 |
|
H & E Equipment Services (a)(b) |
|
89,842,414 |
| |
|
|
|
Heavy Equipment Leasing |
|
|
| |
|
945,000 |
|
World Acceptance (a)(b)(c) |
|
84,974,400 |
| |
|
|
|
Personal Loans |
|
|
| |
|
2,150,000 |
|
McGrath Rentcorp (b) |
|
76,755,000 |
| |
|
|
|
Temporary Space & IT Rentals |
|
|
| |
|
1,500,000 |
|
CAI International (a)(b) |
|
34,905,000 |
| |
|
|
|
International Container Leasing |
|
|
| |
|
1,091,000 |
|
Marlin Business Services (b) |
|
27,231,360 |
| |
|
|
|
Small Equipment Leasing |
|
|
| |
|
450,000 |
|
Onex Capital (Canada) |
|
23,634,775 |
| |
|
|
|
Private Equity |
|
|
| |
|
100,000 |
|
Green Dot (a) |
|
2,633,000 |
| |
|
|
|
Provider of Reloadable Prepaid Debt Cards & Online Banking |
|
|
| |
|
|
|
|
|
339,975,949 |
| |
|
|
|
> Credit Cards 0.8% |
|
|
| |
|
550,000 |
|
Alliance Data Systems (a) |
|
116,308,500 |
| |
|
|
|
Diversified Credit Card Provider |
|
|
| |
|
500,000 |
|
WEX (a) |
|
43,875,000 |
| |
|
|
|
Pay Card Processor |
|
|
| |
|
|
|
|
|
160,183,500 |
| |
|
|
|
> Diversified Financial Companies 0.4% |
|
|
| |
|
2,820,000 |
|
Leucadia National |
|
76,816,800 |
| |
|
|
|
Holding Company |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Savings & Loans —% |
|
|
| |
|
452,146 |
|
Simplicity Bancorp (b) |
|
7,030,870 |
| |
|
|
|
Los Angeles Savings & Loan |
|
|
| |
|
Finance: Total |
|
2,244,667,095 |
| |||
|
|
|
|
| |||
|
Health Care 9.5% |
|
|
| |||
|
|
|
> Biotechnology & Drug Delivery 4.3% |
|
|
| |
|
5,590,000 |
|
Seattle Genetics (a) |
|
245,009,700 |
| |
|
|
|
Antibody-based Therapies for Cancer |
|
|
| |
|
2,392,000 |
|
Synageva Biopharma (a)(b) |
|
151,437,520 |
| |
|
|
|
Biotech Focused on Orphan Diseases |
|
|
| |
|
1,954,268 |
|
BioMarin Pharmaceutical (a) |
|
141,137,235 |
| |
|
|
|
Biotech Focused on Orphan Diseases |
|
|
| |
|
3,283,000 |
|
NPS Pharmaceuticals (a) |
|
104,432,230 |
| |
|
|
|
Orphan Drugs & Healthy Royalties |
|
|
| |
|
4,000,000 |
|
ARIAD Pharmaceuticals (a) |
|
73,600,000 |
| |
|
|
|
Biotech Focused on Cancer |
|
|
| |
|
908,681 |
|
Alnylam Pharmaceuticals (a) |
|
58,164,671 |
| |
|
|
|
Biotech Developing Drugs for Rare Diseases |
|
|
| |
|
1,040,000 |
|
Sarepta Therapeutics (a)(c) |
|
49,119,200 |
| |
|
|
|
Biotech Focused on Rare Diseases |
|
|
| |
|
2,025,000 |
|
InterMune (a) |
|
31,124,250 |
| |
|
|
|
Drugs for Pulmonary Fibrosis & Hepatitis C |
|
|
| |
|
3,610,890 |
|
Ultragenyx (a)(d)(e) |
|
14,371,342 |
| |
|
|
|
Biotech Focused on “Ultra-Orphan” Drugs |
|
|
| |
|
1,370,000 |
|
Coronado Biosciences (a)(c) |
|
9,617,400 |
| |
|
|
|
Development-stage Biotech |
|
|
| |
|
187,909 |
|
Ophthotech (a) |
|
5,582,776 |
| |
|
|
|
Biotech Focused on Ophthalmic Drugs |
|
|
| |
|
|
|
|
|
883,596,324 |
| |
|
|
|
> Medical Supplies 2.1% |
|
|
| |
|
6,170,000 |
|
Cepheid (a)(b) |
|
240,876,800 |
| |
|
|
|
Molecular Diagnostics |
|
|
| |
|
950,000 |
|
Henry Schein (a) |
|
98,515,000 |
| |
|
|
|
Largest Distributor of Healthcare Products |
|
|
| |
|
1,676,000 |
|
Patterson Companies |
|
67,375,200 |
| |
|
|
|
Dental/Vet/Med Distributor |
|
|
| |
|
383,212 |
|
Techne |
|
30,679,953 |
| |
|
|
|
Cytokines, Antibodies & Other Reagents for Life Science |
|
|
| |
|
|
|
|
|
437,446,953 |
| |
|
|
|
> Health Care Services 1.6% |
|
|
| |
|
9,905,000 |
|
Allscripts Healthcare Solutions (a)(b) |
|
147,287,350 |
| |
|
|
|
Health Care IT |
|
|
| |
|
2,650,000 |
|
HealthSouth |
|
91,372,000 |
| |
|
|
|
Inpatient Rehabilitation Facilities |
|
|
| |
|
665,000 |
|
Mednax (a) |
|
66,766,000 |
| |
|
|
|
Physician Management for Pediatric & Anesthesia Practices |
|
|
| |
|
1,004,000 |
|
Envision Healthcare Holdings (a) |
|
26,134,120 |
| |
|
|
|
Provider of Health Care Outsourcing Services |
|
|
| |
|
|
|
|
|
331,559,470 |
| |
|
|
|
> Medical Equipment & Devices 0.8% |
|
|
| |
|
1,550,000 |
|
Sirona Dental Systems (a) |
|
103,741,500 |
| |
|
|
|
Manufacturer of Dental Equipment |
|
|
| |
|
925,000 |
|
PerkinElmer |
|
34,918,750 |
| |
|
|
|
Analytical Instruments for Life Sciences |
|
|
| |
|
429,290 |
|
Haemonetics (a) |
|
17,120,085 |
| |
|
|
|
Blood & Plasma Collection Equipment |
|
|
| |
|
|
|
|
|
155,780,335 |
| |
|
|
|
> Pharmaceuticals 0.7% |
|
|
| |
|
6,312,644 |
|
Akorn (a)(b) |
|
124,232,834 |
| |
|
|
|
Develops, Manufactures & Sells Specialty Generic Drugs |
|
|
| |
|
2,040,000 |
|
Alimera Sciences (a)(b)(c) |
|
7,670,400 |
| |
|
|
|
Ophthalmology-focused Pharmaceutical Company |
|
|
| |
|
|
|
|
|
131,903,234 |
| |
|
Health Care: Total |
|
1,940,286,316 |
| |||
|
|
|
|
| |||
|
Energy & Minerals 7.1% |
|
|
| |||
|
|
|
> Oil Services 3.6% |
|
|
| |
|
4,635,000 |
|
FMC Technologies (a) |
|
256,871,700 |
| |
|
|
|
Oil & Gas Well Head Manufacturer |
|
|
| |
|
Number of Shares |
|
|
|
Value |
| |
|
|
|
> Oil Services—continued |
|
|
| |
|
2,400,000 |
|
Atwood Oceanics (a) |
|
$ |
132,096,000 |
|
|
|
|
Offshore Drilling Contractor |
|
|
| |
|
1,031,106 |
|
Fugro (Netherlands) |
|
62,897,494 |
| |
|
|
|
Subsea Oilfield Services |
|
|
| |
|
1,334,000 |
|
ShawCor (Canada) |
|
56,258,395 |
| |
|
|
|
Oil & Gas Pipeline Products |
|
|
| |
|
661,000 |
|
Hornbeck Offshore (a) |
|
37,967,840 |
| |
|
|
|
Supply Vessel Operator in U.S. Gulf of Mexico |
|
|
| |
|
1,008,000 |
|
Rowan (a) |
|
37,013,760 |
| |
|
|
|
Contract Offshore Driller |
|
|
| |
|
268,000 |
|
Chart Industries (a) |
|
32,974,720 |
| |
|
|
|
Manufacturer of Natural Gas Processing/Storage Equipment |
|
|
| |
|
1,150,000 |
|
Superior Energy Services (a) |
|
28,796,000 |
| |
|
|
|
Diversified Oil Service Provider |
|
|
| |
|
511,000 |
|
Gulfmark Offshore |
|
26,004,790 |
| |
|
|
|
Operator of Offshore Supply Vessels |
|
|
| |
|
400,000 |
|
Dresser-Rand Group (a) |
|
24,960,000 |
| |
|
|
|
Manufactures & Services Compressors |
|
|
| |
|
2,601,900 |
|
Horizon North Logistics (Canada) (c) |
|
18,338,716 |
| |
|
|
|
Provides Diversified Oil Service Offering in Northern Canada |
|
|
| |
|
596,600 |
|
Black Diamond Group (Canada) (c) |
|
14,259,785 |
| |
|
|
|
Provides Accommodations/Equipment for Oil Sands Development |
|
|
| |
|
16,500 |
|
Frank’s International (Netherlands) (a) |
|
493,845 |
| |
|
|
|
Global Provider of Casing Running Services Post Drilling of Wells |
|
|
| |
|
|
|
|
|
728,933,045 |
| |
|
|
|
> Oil & Gas Producers 2.5% |
|
|
| |
|
1,120,000 |
|
SM Energy |
|
86,452,800 |
| |
|
|
|
Oil & Gas Producer |
|
|
| |
|
1,153,600 |
|
Rosetta Resources (a) |
|
62,825,056 |
| |
|
|
|
Oil & Gas Producer Exploring in Texas |
|
|
| |
|
695,000 |
|
Range Resources |
|
52,743,550 |
| |
|
|
|
Oil & Gas Producer |
|
|
| |
|
2,160,000 |
|
Pacific Rubiales Energy (Colombia) |
|
42,652,687 |
| |
|
|
|
Oil Production & Exploration in Colombia |
|
|
| |
|
1,550,834 |
|
Bill Barrett Corporation (a)(c) |
|
38,941,442 |
| |
|
|
|
Oil & Gas Producer in U.S. Rockies |
|
|
| |
|
1,159,000 |
|
Laredo Petroleum (a) |
|
34,399,120 |
| |
|
|
|
Permian Basin Oil Producer |
|
|
| |
|
886,000 |
|
Cabot Oil and Gas |
|
33,065,520 |
| |
|
|
|
Large Natural Gas Producer in Appalachia & Gulf Coast |
|
|
| |
|
743,000 |
|
Baytex (Canada) (c) |
|
30,663,492 |
| |
|
|
|
Oil & Gas Producer in Canada |
|
|
| |
|
1,477,000 |
|
Denbury Resources (a) |
|
27,191,570 |
| |
|
|
|
Oil Producer Using Co2 Injection |
|
|
| |
|
3,095,000 |
|
Athabasca Oil Sands (Canada) (a) |
|
23,586,962 |
| |
|
|
|
Oil Sands & Unconventional Oil Development |
|
|
| |
|
340,000 |
|
PDC Energy (a) |
|
20,243,600 |
| |
|
|
|
Oil & Gas Producer in U.S. |
|
|
| |
|
850,000 |
|
Tullow Oil (United Kingdom) |
|
14,090,914 |
| |
|
|
|
Oil & Gas Producer |
|
|
| |
|
27,000,000 |
|
Shamaran Petroleum (Iraq) (a) |
|
10,091,743 |
| |
|
|
|
Oil Exploration & Production in Kurdistan |
|
|
| |
|
797,647 |
|
DeeThree Exploration (Canada) (a) |
|
7,077,805 |
| |
|
|
|
Canadian Oil & Gas Producer |
|
|
| |
|
181,160 |
|
Carrizo Oil & Gas (a) |
|
6,759,080 |
| |
|
|
|
Oil & Gas Producer |
|
|
| |
|
20,000,000 |
|
Petroamerica Oil (Colombia) (a) |
|
6,310,373 |
| |
|
|
|
Oil Exploration & Production in Colombia |
|
|
| |
|
11,000,000 |
|
Canadian Overseas Petroleum (United Kingdom) (a) |
|
3,363,914 |
| |
|
8,400,000 |
|
Canadian Overseas Petroleum (United Kingdom) (a)(d) |
|
2,440,367 |
| |
|
4,200,000 |
|
Canadian Overseas Petroleum - Warrants (United Kingdom) (a)(d)(e) |
|
4,188 |
| |
|
|
|
Oil & Gas Exploration/Production in the North Sea |
|
|
| |
|
37,500,000 |
|
Petromanas (Canada) (a)(b) |
|
4,914,810 |
| |
|
|
|
Exploring for Oil in Albania |
|
|
| |
|
1,198,100 |
|
Pan Orient (Canada) (a) |
|
2,407,715 |
| |
|
|
|
Growth-oriented, Return-focused Asian Explorer |
|
|
| |
|
511,600 |
|
Canacol (Colombia) (a) |
|
2,190,336 |
| |
|
|
|
Oil Producer in South America |
|
|
| |
|
26,000,000 |
|
Petrodorado Energy (Colombia) (a)(b) |
|
1,009,660 |
| |
|
|
|
Oil & Gas Exploration & Production in Colombia, Peru & Paraguay |
|
|
| |
|
61,091 |
|
Matador Resources (a) |
|
997,616 |
| |
|
|
|
Oil & Gas Producer in Texas & Louisiana |
|
|
| |
|
50,000,000 |
|
Gulf United Energy (Colombia) (a)(b) |
|
115,000 |
| |
|
|
|
Prospecting for Oil Alongside Large Producers in Colombia |
|
|
| |
|
4,110,000 |
|
Santa Maria Petroleum (Colombia) (a)(b)(d) |
|
44,889 |
| |
|
|
|
Explores for Oil & Gas in Latin America |
|
|
| |
|
890,000 |
|
Santa Maria Petroleum (Colombia) (a)(b) |
|
12,960 |
| |
|
|
|
Explores for Oil & Gas in Latin America |
|
|
| |
|
|
|
|
|
514,597,169 |
| |
|
|
|
> Mining 0.8% |
|
|
| |
|
387,000 |
|
Core Labs (Netherlands) |
|
65,484,270 |
| |
|
|
|
Oil & Gas Reservoir Consulting |
|
|
| |
|
1,600,000 |
|
Alamos Gold (Canada) |
|
24,853,162 |
| |
|
500,000 |
|
Alamos Gold (Canada) (f) |
|
7,765,000 |
| |
|
|
|
Gold Mining |
|
|
| |
|
6,044,000 |
|
Northam Platinum (South Africa) (a) |
|
25,523,827 |
| |
|
|
|
Platinum Mining in South Africa |
|
|
| |
|
4,900,000 |
|
Kirkland Lake Gold (Canada) (a)(b) |
|
16,506,966 |
| |
|
|
|
Gold Mining |
|
|
| |
|
7,500,000 |
|
Duluth Metals (Canada) (a)(b) |
|
8,591,816 |
| |
|
|
|
Copper & Nickel Miner |
|
|
| |
|
2,000,000 |
|
Allied Nevada Gold (a)(c) |
|
8,360,000 |
| |
|
|
|
Gold & Silver Mining |
|
|
| |
|
Number of Shares |
|
|
|
Value |
| |||
|
|
|
> Mining—continued |
|
|
| |||
|
1,150,000 |
|
Turquoise Hill Resources (Mongolia) (a) |
|
$ |
5,079,850 |
| ||
|
|
|
Copper Mine Project in Mongolia |
|
|
| |||
|
2,050,000 |
|
Alexco Resource (a)(c) |
|
2,931,500 |
| |||
|
|
|
Mining, Exploration & Environmental Services |
|
|
| |||
|
13,459,000 |
|
Mongolian Mining (Mongolia) (a) |
|
2,413,867 |
| |||
|
|
|
Coking Coal Mining in Mongolia |
|
|
| |||
|
3,000,000 |
|
Kaminak Gold (a)(c) |
|
2,300,859 |
| |||
|
|
|
Exploration Stage Canadian Gold Miner |
|
|
| |||
|
|
|
|
|
169,811,117 |
| |||
|
|
|
> Alternative Energy 0.1% |
|
|
| |||
|
2,000,000 |
|
GT Advanced Technologies (a)(c) |
|
17,020,000 |
| |||
|
|
|
Largest Manufacturer of Furnaces & Reactors to Produce & Cast Polysilicon |
|
|
| |||
|
2,600,000 |
|
Real Goods Solar (a)(b)(c) |
|
7,280,000 |
| |||
|
|
|
Residential Solar Energy Installer |
|
|
| |||
|
1,210,300 |
|
Synthesis Energy Systems (China) (a) |
|
898,043 |
| |||
|
|
|
Owner/Operator of Gasification Plants |
|
|
| |||
|
|
|
|
|
25,198,043 |
| |||
|
|
|
> Agricultural Commodities 0.1% |
|
|
| |||
|
1,306,818 |
|
Union Agriculture Group (Uruguay) (a)(d)(e) |
|
14,009,089 |
| |||
|
|
|
Farmland Operator in Uruguay |
|
|
| |||
|
Energy & Minerals: Total |
|
1,452,548,463 |
| |||||
|
|
|
|
| |||||
|
Other Industries 6.3% |
|
|
| |||||
|
|
|
> Real Estate 4.2% |
|
|
| |||
|
2,100,000 |
|
Extra Space Storage |
|
96,075,000 |
| |||
|
|
|
Self Storage Facilities |
|
|
| |||
|
3,625,000 |
|
Dupont Fabros Technology (b) |
|
93,416,250 |
| |||
|
|
|
Data Centers |
|
|
| |||
|
1,760,000 |
|
Post Properties |
|
79,235,200 |
| |||
|
|
|
Multifamily Properties |
|
|
| |||
|
750,000 |
|
Federal Realty |
|
76,087,500 |
| |||
|
|
|
Shopping Centers |
|
|
| |||
|
7,350,000 |
|
EdR (b) |
|
66,885,000 |
| |||
|
|
|
Student Housing |
|
|
| |||
|
3,000,000 |
|
Associated Estates Realty (b) |
|
44,730,000 |
| |||
|
|
|
Multifamily Properties |
|
|
| |||
|
1,170,000 |
|
Coresite Realty (b) |
|
39,709,800 |
| |||
|
|
|
Data Centers |
|
|
| |||
|
1,900,000 |
|
Biomed Realty Trust |
|
35,321,000 |
| |||
|
|
|
Life Science-focused Office Buildings |
|
|
| |||
|
1,800,000 |
|
St. Joe (a)(c) |
|
35,316,000 |
| |||
|
|
|
Florida Panhandle Landowner |
|
|
| |||
|
17,000,000 |
|
Ascendas REIT (Singapore) |
|
30,931,341 |
| |||
|
|
|
Industrial Property Landlord |
|
|
| |||
|
325,000 |
|
Jones Lang LaSalle |
|
28,372,500 |
| |||
|
|
|
Real Estate Services |
|
|
| |||
|
33,000,000 |
|
Mapletree Logistics Trust (Singapore) |
|
28,171,591 |
| |||
|
|
|
Industrial Property Landlord |
|
|
| |||
|
1,550,000 |
|
Terreno Realty (b) |
|
27,528,000 |
| |||
|
|
|
Industrial Properties |
|
|
| |||
|
3,750,000 |
|
DCT Industrial Trust |
|
26,962,500 |
| |||
|
|
|
Industrial Properties |
|
|
| |||
|
2,850,000 |
|
Summit Hotel Properties |
|
26,191,500 |
| |||
|
|
|
Owner of Select Service Hotels |
|
|
| |||
|
1,300,000 |
|
Hudson Pacific Properties |
|
25,285,000 |
| |||
|
|
|
West Coast Office Buildings & Production Studios |
|
|
| |||
|
4,000,000 |
|
Kite Realty Group |
|
23,720,000 |
| |||
|
|
|
Community Shopping Centers |
|
|
| |||
|
20,000,000 |
|
Mapletree Commercial Trust (Singapore) |
|
19,382,057 |
| |||
|
|
|
Retail & Office Property Landlord |
|
|
| |||
|
14,000 |
|
Orix JREIT (Japan) |
|
17,786,709 |
| |||
|
|
|
Diversified REIT |
|
|
| |||
|
24,664,000 |
|
Mapletree Greater China Commercial Trust (Hong Kong) (a) |
|
17,601,904 |
| |||
|
|
|
Retail & Office Property Landlord |
|
|
| |||
|
950,000 |
|
American Residential Properties (a) |
|
16,729,500 |
| |||
|
|
|
Single-family Rental Properties |
|
|
| |||
|
11,917,000 |
|
CDL Hospitality Trust (Singapore) |
|
15,469,160 |
| |||
|
|
|
Hotel Owner/Operator |
|
|
| |||
|
|
|
|
|
870,907,512 |
| |||
|
|
|
> Transportation 1.4% |
|
|
| |||
|
1,155,000 |
|
JB Hunt Transport Services |
|
84,234,150 |
| |||
|
|
|
Truck & Intermodal Carrier |
|
|
| |||
|
3,100,000 |
|
Rush Enterprises, Class A (a)(b) |
|
82,181,000 |
| |||
|
|
|
Truck Sales & Service |
|
|
| |||
|
846,000 |
|
Kirby (a) |
|
73,221,300 |
| |||
|
|
|
Largest Operator of U.S. (Jones Act) Liquid Tank Barges |
|
|
| |||
|
300,000 |
|
Genesee & Wyoming (a) |
|
27,891,000 |
| |||
|
|
|
Short-line Operator |
|
|
| |||
|
550,000 |
|
Rush Enterprises, Class B (a)(b) |
|
12,523,500 |
| |||
|
|
|
Truck Sales & Service |
|
|
| |||
|
|
|
|
|
280,050,950 |
| |||
|
|
|
> Regulated Utilities 0.7% |
|
|
| |||
|
2,000,000 |
|
Northeast Utilities |
|
82,500,000 |
| |||
|
|
|
Regulated Electric Utility |
|
|
| |||
|
2,200,000 |
|
Pepco Holdings |
|
40,612,000 |
| |||
|
|
|
Regulated Utility |
|
|
| |||
|
700,000 |
|
Wisconsin Energy |
|
28,266,000 |
| |||
|
|
|
Wisconsin Utility |
|
|
| |||
|
|
|
|
|
151,378,000 |
| |||
|
Other Industries: Total |
|
1,302,336,462 |
| |||||
|
|
|
|
|
|
| |||
|
Total Equities: 97.0% |
|
19,875,831,792 |
(g) | |||||
|
Number of Shares |
|
|
|
Value |
| |
|
Short-Term Investments 3.2% |
|
|
|
| ||
|
499,118,598 |
|
JPMorgan U.S. Government Money Market Fund, Agency Shares (7 day yield of 0.01%) |
|
$ |
499,118,593 |
|
|
160,411,074 |
|
JPMorgan U.S. Government Money Market Fund, Capital Shares (7 day yield of 0.01%) |
|
160,411,074 |
| |
|
Total Short-Term Investments: 3.2% |
|
659,529,667 |
| |||
|
|
|
|
| |||
|
Securities Lending Collateral 2.0% |
|
|
| |||
|
399,899,875 |
|
Dreyfus Government Cash Management Fund, Institutional Shares (7 day yield of 0.01%) (h) |
|
399,899,875 |
| |
|
Total Securities Lending Collateral: |
|
399,899,875 |
| |||
|
|
|
|
| |||
|
Total Investments: 102.2% |
|
20,935,261,334 |
(j) | |||
|
|
|
|
| |||
|
Obligation to Return Collateral for Securities Loaned: (2.0)% |
|
(399,899,875 |
) | |||
|
|
|
|
| |||
|
Cash and Other Assets Less Liabilities: (0.2)% |
|
(51,483,264 |
) | |||
|
|
|
|
| |||
|
Net Assets: 100.0% |
|
$ |
20,483,878,195 |
| ||
ADR - American Depositary Receipts
REIT - Real Estate Investment Trust
> Notes to Statement of Investments
(a) Non-income producing security.
(b) An affiliated person of the Fund, as defined in the Investment Company Act of 1940, 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 September 30, 2013, are as follows:
|
Security |
|
Balance of |
|
Purchases/ |
|
Sales/ |
|
Balance of |
|
Value |
|
Dividend |
| ||
|
Mettler-Toledo International |
|
1,600,000 |
|
— |
|
— |
|
1,600,000 |
|
$ |
384,144,000 |
|
$ |
— |
|
|
Donaldson |
|
8,400,000 |
|
— |
|
— |
|
8,400,000 |
|
320,292,000 |
|
3,024,000 |
| ||
|
tw telecom |
|
9,500,000 |
|
— |
|
— |
|
9,500,000 |
|
283,717,500 |
|
— |
| ||
|
Bally Technologies |
|
3,725,000 |
|
— |
|
188,000 |
|
3,537,000 |
|
254,876,220 |
|
— |
| ||
|
Nordson |
|
3,125,000 |
|
275,000 |
|
— |
|
3,400,000 |
|
250,342,000 |
|
1,590,750 |
| ||
|
Seattle Genetics (1) |
|
6,550,000 |
|
— |
|
960,000 |
|
5,590,000 |
|
245,009,700 |
|
— |
| ||
|
Cepheid |
|
4,970,000 |
|
1,200,000 |
|
— |
|
6,170,000 |
|
240,876,800 |
|
— |
| ||
|
Moog |
|
3,230,000 |
|
— |
|
— |
|
3,230,000 |
|
189,504,100 |
|
— |
| ||
|
HEICO |
|
3,063,000 |
|
— |
|
— |
|
3,063,000 |
|
153,578,820 |
|
214,410 |
| ||
|
Synageva Biopharma |
|
1,165,000 |
|
1,227,000 |
|
— |
|
2,392,000 |
|
151,437,520 |
|
— |
| ||
|
Allscripts Healthcare Solutions |
|
— |
|
9,905,000 |
|
— |
|
9,905,000 |
|
147,287,350 |
|
— |
| ||
|
Pier 1 Imports |
|
7,185,000 |
|
— |
|
— |
|
7,185,000 |
|
140,251,200 |
|
1,077,750 |
| ||
|
Associated Banc-Corp |
|
7,756,800 |
|
1,243,200 |
|
— |
|
9,000,000 |
|
139,410,000 |
|
2,058,544 |
| ||
|
iGATE |
|
3,700,000 |
|
800,000 |
|
— |
|
4,500,000 |
|
124,920,000 |
|
— |
| ||
|
Akorn |
|
4,000,000 |
|
2,312,644 |
|
— |
|
6,312,644 |
|
124,232,834 |
|
— |
| ||
|
Lifetime Fitness |
|
2,280,000 |
|
— |
|
— |
|
2,280,000 |
|
117,351,600 |
|
— |
| ||
|
Shutterfly |
|
2,835,000 |
|
— |
|
860,000 |
|
1,975,000 |
|
110,363,000 |
|
— |
| ||
|
NPS Pharmaceuticals (1) |
|
6,000,000 |
|
— |
|
2,717,000 |
|
3,283,000 |
|
104,432,230 |
|
— |
| ||
|
Rush Enterprises |
|
3,650,000 |
|
— |
|
— |
|
3,650,000 |
|
94,704,500 |
|
— |
| ||
> Notes to Statement of Investments
|
Security |
|
Balance of |
|
Purchases/ |
|
Sales/ |
|
Balance of |
|
Value |
|
Dividend |
| ||
|
Dupont Fabros Technology |
|
3,625,000 |
|
— |
|
— |
|
3,625,000 |
|
$ |
93,416,250 |
|
$ |
1,631,250 |
|
|
IPG Photonics (1) |
|
2,780,000 |
|
— |
|
1,160,000 |
|
1,620,000 |
|
91,222,200 |
|
— |
| ||
|
H & E Equipment Services |
|
3,400,000 |
|
22,749 |
|
40,128 |
|
3,382,621 |
|
89,842,414 |
|
— |
| ||
|
AFC Enterprises |
|
2,000,000 |
|
— |
|
— |
|
2,000,000 |
|
87,180,000 |
|
— |
| ||
|
II-VI |
|
4,550,000 |
|
— |
|
— |
|
4,550,000 |
|
85,631,000 |
|
— |
| ||
|
Drew Industries |
|
1,880,000 |
|
— |
|
— |
|
1,880,000 |
|
85,615,200 |
|
— |
| ||
|
World Acceptance |
|
1,285,000 |
|
— |
|
340,000 |
|
945,000 |
|
84,974,400 |
|
— |
| ||
|
MB Financial |
|
2,860,000 |
|
— |
|
— |
|
2,860,000 |
|
80,766,400 |
|
915,200 |
| ||
|
McGrath Rentcorp |
|
2,150,000 |
|
— |
|
— |
|
2,150,000 |
|
76,755,000 |
|
1,537,250 |
| ||
|
ESCO Technologies |
|
2,200,000 |
|
100,000 |
|
— |
|
2,300,000 |
|
76,429,000 |
|
536,000 |
| ||
|
Ryman Hospitality Properties (1) |
|
4,520,690 |
|
— |
|
2,490,690 |
|
2,030,000 |
|
70,055,300 |
|
4,628,845 |
| ||
|
EdR |
|
5,744,300 |
|
1,605,700 |
|
— |
|
7,350,000 |
|
66,885,000 |
|
1,880,360 |
| ||
|
Navigant Consulting |
|
3,704,600 |
|
320,400 |
|
— |
|
4,025,000 |
|
62,226,500 |
|
— |
| ||
|
Knoll |
|
4,200,000 |
|
— |
|
531,000 |
|
3,669,000 |
|
62,152,860 |
|
1,365,137 |
| ||
|
Virtusa |
|
2,125,000 |
|
— |
|
— |
|
2,125,000 |
|
61,752,500 |
|
— |
| ||
|
Forward Air (1) |
|
1,500,000 |
|
— |
|
— |
|
1,500,000 |
|
60,525,000 |
|
450,000 |
| ||
|
SPS Commerce |
|
900,000 |
|
— |
|
— |
|
900,000 |
|
60,228,000 |
|
— |
| ||
|
Insperity |
|
1,800,000 |
|
— |
|
400,000 |
|
1,400,000 |
|
52,640,000 |
|
742,733 |
| ||
|
Helen of Troy (1) |
|
1,600,000 |
|
— |
|
430,000 |
|
1,170,000 |
|
51,714,000 |
|
— |
| ||
|
ExlService Holdings (1) |
|
1,618,000 |
|
— |
|
— |
|
1,618,000 |
|
46,080,640 |
|
— |
| ||
|
Associated Estates Realty |
|
3,000,000 |
|
— |
|
— |
|
3,000,000 |
|
44,730,000 |
|
1,710,000 |
| ||
|
Coresite Realty |
|
— |
|
1,170,000 |
|
— |
|
1,170,000 |
|
39,709,800 |
|
666,436 |
| ||
|
CAI International |
|
1,397,834 |
|
102,166 |
|
— |
|
1,500,000 |
|
34,905,000 |
|
— |
| ||
|
Terreno Realty |
|
358,151 |
|
1,191,849 |
|
— |
|
1,550,000 |
|
27,528,000 |
|
230,820 |
| ||
|
Hackett Group |
|
3,849,207 |
|
— |
|
— |
|
3,849,207 |
|
27,444,846 |
|
— |
| ||
|
Marlin Business Services |
|
1,091,000 |
|
— |
|
— |
|
1,091,000 |
|
27,231,360 |
|
2,520,210 |
| ||
|
InContact |
|
2,200,000 |
|
1,000,000 |
|
|
|
3,200,000 |
|
26,464,000 |
|
— |
| ||
|
Cavco Industries |
|
460,000 |
|
— |
|
— |
|
460,000 |
|
26,197,000 |
|
— |
| ||
|
Summit Hotel Properties (1) |
|
2,850,000 |
|
— |
|
— |
|
2,850,000 |
|
26,191,500 |
|
961,875 |
| ||
|
First Busey |
|
4,299,507 |
|
542,375 |
|
— |
|
4,841,882 |
|
25,226,205 |
|
353,400 |
| ||
|
Globalstar |
|
1,200,000 |
|
21,189,746 |
|
289,746 |
|
22,100,000 |
|
24,089,000 |
|
— |
| ||
|
Kite Realty Group (1) |
|
4,000,000 |
|
— |
|
— |
|
4,000,000 |
|
23,720,000 |
|
720,000 |
| ||
|
Blackhawk Network |
|
— |
|
800,000 |
|
— |
|
800,000 |
|
19,224,000 |
|
— |
| ||
|
Kirkland Lake Gold |
|
1,900,000 |
|
3,000,000 |
|
— |
|
4,900,000 |
|
16,506,966 |
|
— |
| ||
|
Boingo Wireless |
|
1,900,000 |
|
371,214 |
|
— |
|
2,271,214 |
|
15,898,498 |
|
— |
| ||
|
Exa |
|
872,060 |
|
127,940 |
|
— |
|
1,000,000 |
|
15,490,000 |
|
— |
| ||
|
Acorn Energy |
|
1,512,352 |
|
8,605 |
|
— |
|
1,520,957 |
|
8,973,646 |
|
52,932 |
| ||
|
Duluth Metals |
|
7,500,000 |
|
— |
|
— |
|
7,500,000 |
|
8,591,816 |
|
— |
| ||
|
Alimera Sciences |
|
2,040,000 |
|
— |
|
— |
|
2,040,000 |
|
7,670,400 |
|
— |
| ||
|
Real Goods Solar |
|
— |
|
2,600,000 |
|
— |
|
2,600,000 |
|
7,280,000 |
|
— |
| ||
|
Simplicity Bancorp |
|
452,146 |
|
— |
|
— |
|
452,146 |
|
7,030,870 |
|
108,515 |
| ||
|
Gaiam |
|
1,371,366 |
|
— |
|
— |
|
1,371,366 |
|
6,870,543 |
|
— |
| ||
|
Petromanas |
|
37,500,000 |
|
— |
|
— |
|
37,500,000 |
|
4,914,810 |
|
— |
| ||
|
GLG Life Tech |
|
1,665,270 |
|
— |
|
— |
|
1,665,270 |
|
1,358,019 |
|
— |
| ||
|
Petrodorado Energy |
|
26,000,000 |
|
— |
|
— |
|
26,000,000 |
|
1,009,660 |
|
— |
| ||
|
Gulf United Energy |
|
50,000,000 |
|
— |
|
— |
|
50,000,000 |
|
115,000 |
|
— |
| ||
|
Santa Maria Petroleum |
|
5,000,000 |
|
— |
|
— |
|
5,000,000 |
|
57,849 |
|
— |
| ||
|
Chelsea Therapeutics International (1) |
|
4,949,000 |
|
— |
|
4,949,000 |
|
— |
|
— |
|
— |
| ||
|
Pericom Semiconductor (1) |
|
1,765,000 |
|
— |
|
1,765,000 |
|
— |
|
— |
|
— |
| ||
|
Pinnacle Entertainment (1) |
|
3,950,000 |
|
— |
|
3,950,000 |
|
— |
|
— |
|
— |
| ||
|
Raptor Pharmaceutical (1) |
|
3,000,000 |
|
— |
|
3,000,000 |
|
— |
|
— |
|
— |
| ||
|
Tower Group (1)(2) |
|
3,300,000 |
|
438,900 |
|
3,738,900 |
|
— |
|
— |
|
1,840,746 |
| ||
|
TriCo Bancshares (1) |
|
1,350,000 |
|
— |
|
1,350,000 |
|
— |
|
— |
|
270,000 |
| ||
|
Wolverine Minerals (1)(2) |
|
4,000,000 |
|
— |
|
4,000,000 |
|
— |
|
— |
|
— |
| ||
|
Total of Affiliated Transactions |
|
321,910,283 |
|
51,554,488 |
|
33,159,464 |
|
340,305,307 |
|
$ |
5,497,251,826 |
|
$ |
31,087,163 |
|
(1) At September 30, 2013, the Fund owned less than five percent of the company’s outstanding voting shares.
(2) Includes the effects of a stock split.
The aggregate cost and value of these companies at September 30, 2013, was $2,582,351,359 and $4,778,301,256, respectively. Investments in affiliated companies represented 23.33% of the Fund’s total net assets at September 30, 2013.
> Notes to Statement of Investments
(c) All or a portion of this security was on loan at September 30, 2013. The total market value of securities on loan at September 30, 2013 was $388,206,936.
(d) 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 September 30, 2013, the market value of these securities amounted to $30,869,875, which represented 0.15% of total net assets. Additional information on these securities is as follows:
|
Security |
|
Acquisition |
|
Shares/Units |
|
Cost |
|
Value |
| ||
|
Ultragenyx |
|
12/19/12 |
|
3,610,890 |
|
$ |
9,999,999 |
|
$ |
14,371,342 |
|
|
Union Agriculture Group |
|
12/8/10-6/27/12 |
|
1,306,818 |
|
15,000,000 |
|
14,009,089 |
| ||
|
Canadian Overseas Petroleum |
|
11/24/10 |
|
8,400,000 |
|
3,591,152 |
|
2,440,367 |
| ||
|
Santa Maria Petroleum |
|
1/14/11 |
|
4,110,000 |
|
5,193,292 |
|
44,889 |
| ||
|
Canadian Overseas Petroleum - Warrants |
|
11/24/10 |
|
4,200,000 |
|
525,688 |
|
4,188 |
| ||
|
|
|
|
|
|
|
$ |
34,310,131 |
|
$ |
30,869,875 |
|
(e) Illiquid security.
(f) Security is traded on a U.S. exchange.
(g) On September 30, 2013, the market value of foreign securities represented 7.72% of total net assets. The Fund’s foreign portfolio was diversified as follows:
|
Country |
|
Value |
|
Percentage |
| |
|
Canada |
|
$ |
299,763,638 |
|
1.46 |
|
|
Hong Kong |
|
227,015,153 |
|
1.11 |
| |
|
Netherlands |
|
202,074,489 |
|
0.99 |
| |
|
Sweden |
|
125,506,963 |
|
0.61 |
| |
|
Singapore |
|
122,916,563 |
|
0.60 |
| |
|
France |
|
73,759,571 |
|
0.36 |
| |
|
South Africa |
|
68,673,784 |
|
0.33 |
| |
|
Japan |
|
65,953,338 |
|
0.32 |
| |
|
Colombia |
|
52,335,905 |
|
0.26 |
| |
|
Denmark |
|
49,271,589 |
|
0.24 |
| |
|
India |
|
42,440,000 |
|
0.21 |
| |
|
Israel |
|
37,108,605 |
|
0.18 |
| |
|
United Kingdom |
|
34,679,949 |
|
0.17 |
| |
|
Cambodia |
|
33,748,852 |
|
0.16 |
| |
|
Brazil |
|
31,457,835 |
|
0.15 |
| |
|
Russia |
|
26,477,340 |
|
0.13 |
| |
|
Taiwan |
|
24,072,658 |
|
0.12 |
| |
|
Chile |
|
20,560,150 |
|
0.10 |
| |
|
Uruguay |
|
14,009,089 |
|
0.07 |
| |
|
Iceland |
|
10,633,879 |
|
0.05 |
| |
|
Iraq |
|
10,091,743 |
|
0.05 |
| |
|
Mongolia |
|
7,493,717 |
|
0.04 |
| |
|
China |
|
1,708,043 |
|
0.01 |
| |
|
Total Foreign Portfolio |
|
$ |
1,581,752,853 |
|
7.72 |
|
(h) Investment made with cash collateral received from securities lending activity.
(i) At September 30, 2013, for federal income tax purposes, the cost of investments was $11,652,078,218 and net unrealized appreciation was $9,283,183,116 consisting of gross unrealized appreciation of $9,585,831,787 and gross unrealized depreciation of $302,648,671.
(j) 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 Fund’s 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 management’s 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
> Notes to Statement of Investments
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 Fund’s 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 Trust’s 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 September 30, 2013, in valuing the Fund’s assets:
|
Investment Type |
|
Quoted Prices |
|
Other |
|
Significant |
|
Total |
| ||||
|
Equities |
|
|
|
|
|
|
|
|
| ||||
|
Information |
|
$ |
5,365,985,377 |
|
$ |
223,387,807 |
|
$ |
— |
|
$ |
5,589,373,184 |
|
|
Industrial Goods & Services |
|
4,000,717,369 |
|
224,965,341 |
|
— |
|
4,225,682,710 |
| ||||
|
Consumer Goods & Services |
|
2,943,084,059 |
|
177,853,503 |
|
— |
|
3,120,937,562 |
| ||||
|
Finance |
|
2,215,783,539 |
|
28,883,556 |
|
— |
|
2,244,667,095 |
| ||||
|
Health Care |
|
1,925,914,974 |
|
— |
|
14,371,342 |
|
1,940,286,316 |
| ||||
|
Energy & Minerals |
|
1,331,123,828 |
|
107,415,546 |
|
14,009,089 |
|
1,452,548,463 |
| ||||
|
Other Industries |
|
1,172,993,700 |
|
129,342,762 |
|
— |
|
1,302,336,462 |
| ||||
|
Total Equities |
|
18,955,602,846 |
|
891,848,515 |
|
28,380,431 |
|
19,875,831,792 |
| ||||
|
Total Short-Term Investments |
|
659,529,667 |
|
— |
|
— |
|
659,529,667 |
| ||||
|
Total Securities Lending Collateral |
|
399,899,875 |
|
— |
|
— |
|
399,899,875 |
| ||||
|
Total Investments |
|
$ |
20,015,032,388 |
|
$ |
891,848,515 |
|
$ |
28,380,431 |
|
$ |
20,935,261,334 |
|
The Fund’s assets assigned to the Level 2 input category are generally valued using a market approach, in which a security’s 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 manager’s 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.
The following table shows transfers between Level 1 and Level 2 of the fair value hierarchy:
|
Transfers In |
|
Transfers Out |
| ||||||||
|
Level 1 |
|
Level 2 |
|
Level 1 |
|
Level 2 |
| ||||
|
$ |
434,636 |
|
$ |
— |
|
$ |
— |
|
$ |
434,636 |
|
Financial assets were transferred from Level 1 to Level 2 as trading resumed 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 company’s 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), September 30, 2013
|
Number of Shares |
|
|
|
Value |
| |
|
Equities: 95.9% |
|
|
| |||
|
Asia 44.3% |
|
|
|
|
| |
|
|
|
> Japan 19.8% |
|
|
| |
|
4,784,600 |
|
Kansai Paint |
|
$ |
63,583,566 |
|
|
|
|
Paint Producer in Japan, India, China & Southeast Asia |
|
|
| |
|
2,570,000 |
|
NGK Spark Plug |
|
57,038,561 |
| |
|
|
|
Automobile Parts |
|
|
| |
|
5,800,000 |
|
Wacom |
|
55,792,813 |
| |
|
|
|
Computer Graphic Illustration Devices |
|
|
| |
|
36,500 |
|
Orix JREIT |
|
46,372,490 |
| |
|
|
|
Diversified REIT |
|
|
| |
|
1,276,300 |
|
Hoshizaki Electric |
|
44,103,172 |
| |
|
|
|
Commercial Kitchen Equipment |
|
|
| |
|
1,480,000 |
|
Start Today (a) |
|
41,805,032 |
| |
|
|
|
Online Japanese Apparel Retailer |
|
|
| |
|
2,300,000 |
|
Park24 |
|
40,927,880 |
| |
|
|
|
Parking Lot Operator |
|
|
| |
|
270,000 |
|
Nakanishi |
|
37,690,294 |
| |
|
|
|
Dental Tools & Machinery |
|
|
| |
|
1,610,000 |
|
Japan Airport Terminal |
|
37,260,949 |
| |
|
|
|
Airport Terminal Operator at Haneda |
|
|
| |
|
501,000 |
|
Rinnai |
|
37,231,295 |
| |
|
|
|
Gas Appliances for Household & Commercial Use |
|
|
| |
|
1,456,000 |
|
Ariake Japan |
|
36,104,566 |
| |
|
|
|
Manufacturer of Soup/Sauce Extracts |
|
|
| |
|
10,560,000 |
|
Seven Bank |
|
35,374,781 |
| |
|
|
|
ATM Processing Services |
|
|
| |
|
229,400 |
|
Hirose Electric |
|
35,311,565 |
| |
|
|
|
Electrical Connectors |
|
|
| |
|
1,400,000 |
|
Glory |
|
35,274,704 |
| |
|
|
|
Currency Handling Systems & Related Equipment |
|
|
| |
|
2,260,000 |
|
NGK Insulators |
|
34,432,046 |
| |
|
|
|
Ceramic Products for Auto, Power & Electronics |
|
|
| |
|
2,329,000 |
|
Nippon Kayaku |
|
33,613,596 |
| |
|
|
|
Functional Chemicals, Pharmaceuticals & Auto Safety Systems |
|
|
| |
|
6,700 |
|
Kenedix Realty Investment |
|
32,955,096 |
| |
|
|
|
Tokyo Mid-size Office REIT |
|
|
| |
|
905,000 |
|
Omron |
|
32,782,560 |
| |
|
|
|
Electric Components for Factory Automation |
|
|
| |
|
879,000 |
|
Kintetsu World Express |
|
31,630,968 |
| |
|
|
|
Airfreight Logistics |
|
|
| |
|
1,680,000 |
|
Daiseki |
|
31,031,153 |
| |
|
|
|
Waste Disposal & Recycling |
|
|
| |
|
1,268,000 |
|
Nabtesco |
|
30,990,044 |
| |
|
|
|
Machinery Components |
|
|
| |
|
1,040,900 |
|
Toyo Suisan Kaisha |
|
30,561,748 |
| |
|
|
|
Instant Noodle Manufacturer |
|
|
| |
|
3,000 |
|
Nippon Prologis REIT (a) |
|
30,062,068 |
| |
|
|
|
Logistics REIT in Japan |
|
|
| |
|
2,350,000 |
|
Ushio |
|
29,268,237 |
| |
|
|
|
Industrial Light Sources |
|
|
| |
|
581,600 |
|
Santen Pharmaceutical |
|
28,243,596 |
| |
|
|
|
Specialty Pharma (Ophthalmic Medicine) |
|
|
| |
|
1,401,000 |
|
Aica Kogyo |
|
27,957,774 |
| |
|
|
|
Laminated Sheets, Building Materials & Chemical Adhesives |
|
|
| |
|
603,706 |
|
Miraca Holdings |
|
26,980,905 |
| |
|
|
|
Outsourced Lab Testing, Diagnostic Equipment & Reagents |
|
|
| |
|
709,500 |
|
Hamamatsu Photonics |
|
26,796,557 |
| |
|
|
|
Optical Sensors for Medical & Industrial Applications |
|
|
| |
|
730,000 |
|
Benesse |
|
26,551,430 |
| |
|
|
|
Education Service Provider |
|
|
| |
|
1,530,000 |
|
Suruga Bank |
|
26,375,257 |
| |
|
|
|
Regional Bank |
|
|
| |
|
458,400 |
|
Disco |
|
26,333,047 |
| |
|
|
|
Semiconductor Dicing & Grinding Equipment |
|
|
| |
|
3,700 |
|
Mori Hills REIT Investment |
|
25,616,394 |
| |
|
|
|
Tokyo-centric Diversified REIT |
|
|
| |
|
1,450,000 |
|
OSG |
|
25,400,144 |
| |
|
|
|
Consumable Cutting Tools |
|
|
| |
|
2,580 |
|
Industrial & Infrastructure Fund |
|
24,492,850 |
| |
|
|
|
Industrial REIT in Japan |
|
|
| |
|
2,010,100 |
|
Kuraray |
|
24,160,310 |
| |
|
|
|
Special Resin, Fine Chemical, Fibers & Textures |
|
|
| |
|
569,292 |
|
Ain Pharmaciez |
|
24,120,080 |
| |
|
|
|
Dispensing Pharmacy/Drugstore Operator |
|
|
| |
|
314,800 |
|
FP Corporation |
|
23,674,027 |
| |
|
|
|
Disposable Food Trays & Containers |
|
|
| |
|
382,000 |
|
Sanrio |
|
23,545,928 |
| |
|
|
|
Character Goods & Licensing |
|
|
| |
|
804,600 |
|
Misumi Group |
|
23,391,013 |
| |
|
|
|
Industrial Components Distributor |
|
|
| |
|
3,850 |
|
Global One Real Estate |
|
23,058,651 |
| |
|
|
|
Office REIT |
|
|
| |
|
532,000 |
|
FamilyMart |
|
23,042,795 |
| |
|
|
|
Convenience Store Operator |
|
|
| |
|
1,122,080 |
|
Nihon Parkerizing |
|
23,001,290 |
| |
|
|
|
Metal Surface Treatment Agents & Processing Service |
|
|
| |
|
1,600,000 |
|
Doshisha |
|
22,899,376 |
| |
|
|
|
Wholesaler of Household Products |
|
|
| |
|
7,210,000 |
|
Aozora Bank |
|
21,411,967 |
| |
|
|
|
Commercial Bank |
|
|
| |
|
2,100,000 |
|
Asahi Diamond Industrial |
|
20,869,580 |
| |
|
|
|
Consumable Diamond Tools |
|
|
| |
|
1,297,000 |
|
Nippon Paint |
|
20,764,419 |
| |
|
|
|
Paints for Automotive, Decorative & Industrial Usage |
|
|
| |
|
835,000 |
|
Icom (b) |
|
19,786,268 |
| |
|
|
|
Two Way Radio Communication Equipment |
|
|
| |
|
475,900 |
|
Milbon |
|
19,523,701 |
| |
|
|
|
Manufacturer of Hair Products |
|
|
| |
|
503,000 |
|
Itochu Techno-Science |
|
17,899,825 |
| |
|
|
|
IT Network Equipment Sales & Services |
|
|
| |
|
172,000 |
|
Shimano |
|
15,382,092 |
| |
|
|
|
Manufacturer of Bicycle Components & Fishing Tackle |
|
|
| |
|
Number of Shares |
|
|
|
Value |
| |
|
|
|
> Japan—continued |
|
|
| |
|
1,628,300 |
|
Sintokogio |
|
$ |
12,246,587 |
|
|
|
|
Automated Casting Machines, Surface Treatment System & Consumables |
|
|
| |
|
1,575,000 |
|
Lifenet Insurance (a)(c) |
|
10,444,905 |
| |
|
|
|
Online Life Insurance Company in Japan |
|
|
| |
|
350,000 |
|
MonotaRO |
|
10,282,552 |
| |
|
|
|
Online MRO (Maintenance, Repair, Operations) Goods Distributor in Japan |
|
|
| |
|
234,400 |
|
JIN |
|
8,837,444 |
| |
|
|
|
Eyeglasses Retailer |
|
|
| |
|
926,000 |
|
NOF |
|
5,965,989 |
| |
|
|
|
Specialty Chemicals, Life Science & Rocket Fuels |
|
|
| |
|
135,300 |
|
OBIC |
|
4,376,230 |
| |
|
|
|
Computer Software |
|
|
| |
|
|
|
|
|
1,584,632,167 |
| |
|
|
|
> Taiwan 6.3% |
|
|
| |
|
39,877,000 |
|
Far EasTone Telecom |
|
99,352,659 |
| |
|
|
|
Taiwan’s Third Largest Mobile Operator |
|
|
| |
|
2,199,000 |
|
St. Shine Optical |
|
60,597,313 |
| |
|
|
|
World’s Leading Disposable Contact Lens OEM (Original Equipment Manufacturer) |
|
|
| |
|
15,600,000 |
|
Taiwan Mobile |
|
55,331,886 |
| |
|
|
|
Taiwan’s Second Largest Mobile Operator |
|
|
| |
|
7,306,000 |
|
Delta Electronics |
|
35,478,009 |
| |
|
|
|
Industrial Automation, Switching Power Supplies & Passive Components |
|
|
| |
|
1,868,000 |
|
Ginko International |
|
34,561,660 |
| |
|
|
|
Largest Contact Lens Maker in China |
|
|
| |
|
21,218,000 |
|
CTCI Corp |
|
34,294,332 |
| |
|
|
|
International Engineering Firm |
|
|
| |
|
5,219,000 |
|
Advantech |
|
29,216,813 |
| |
|
|
|
Industrial PC & Components |
|
|
| |
|
14,019,253 |
|
Lite-On Technology |
|
23,896,368 |
| |
|
|
|
Mobile Device, LED & PC Server Component Supplier |
|
|
| |
|
11,158,183 |
|
Chipbond |
|
23,040,368 |
| |
|
|
|
Semiconductor Back-end Packaging Services |
|
|
| |
|
6,089,262 |
|
Flexium Interconnect |
|
20,991,894 |
| |
|
|
|
Flexible Printed Circuit for Mobile Electronics |
|
|
| |
|
2,673,000 |
|
President Chain Store |
|
19,307,273 |
| |
|
|
|
Convenience Chain Store Operator |
|
|
| |
|
8,366,000 |
|
Taiwan Hon Chuan |
|
18,163,853 |
| |
|
|
|
Beverage Packaging (Bottles, Caps, Labels) Manufacturer |
|
|
| |
|
7,568,000 |
|
Chroma Ate |
|
17,024,602 |
| |
|
|
|
Automatic Test Systems, Testing & Measurement Instruments |
|
|
| |
|
4,043,000 |
|
Radiant Opto-Electronics |
|
14,419,804 |
| |
|
|
|
LCD Back Light Units & Modules |
|
|
| |
|
2,027,000 |
|
PC Home |
|
11,662,680 |
| |
|
|
|
Taiwanese Internet Retail Company |
|
|
| |
|
2,933,000 |
|
Lung Yen |
|
8,916,166 |
| |
|
|
|
Funeral Services & Columbaria |
|
|
| |
|
269,866 |
|
CHC Healthcare |
|
867,297 |
| |
|
|
|
Medical Device Distributor |
|
|
| |
|
|
|
|
|
507,122,977 |
| |
|
|
|
> Hong Kong 4.7% |
|
|
| |
|
3,000,000 |
|
Melco Crown Entertainment - ADR (c) |
|
95,490,000 |
| |
|
|
|
Macau Casino Operator |
|
|
| |
|
20,000,000 |
|
Melco International |
|
53,751,121 |
| |
|
|
|
Macau Casino Operator |
|
|
| |
|
30,000,000 |
|
Sa Sa International |
|
33,873,508 |
| |
|
|
|
Cosmetics Retailer |
|
|
| |
|
10,000,000 |
|
MGM China Holdings |
|
33,259,124 |
| |
|
|
|
Macau Casino Operator |
|
|
| |
|
14,000,000 |
|
Lifestyle International |
|
29,792,148 |
| |
|
|
|
Mid to High-end Department Store Operator in Hong Kong & China |
|
|
| |
|
20,000,000 |
|
Vitasoy International |
|
25,255,284 |
| |
|
|
|
Hong Kong Soy Food Brand |
|
|
| |
|
9,215,750 |
|
L’Occitane International |
|
24,093,593 |
| |
|
|
|
Skin Care & Cosmetics Producer |
|
|
| |
|
8,866,000 |
|
Kingboard Chemicals |
|
22,828,244 |
| |
|
|
|
Paper & Glass Laminates, PCB, Specialty Chemicals & Properties |
|
|
| |
|
30,000,000 |
|
Mapletree Greater China Commercial Trust (c) |
|
21,410,035 |
| |
|
|
|
Retail & Office Property Landlord |
|
|
| |
|
4,687,000 |
|
AAC Technologies |
|
21,369,083 |
| |
|
|
|
Miniature Acoustic Components |
|
|
| |
|
1,799,800 |
|
ASM Pacific |
|
18,283,391 |
| |
|
|
|
Semi Back-end & Surface Mounting Equipment |
|
|
| |
|
|
|
|
|
379,405,531 |
| |
|
|
|
> Korea 3.4% |
|
|
| |
|
682,580 |
|
Coway |
|
37,850,155 |
| |
|
|
|
Household Appliance Rental Service Provider |
|
|
| |
|
1,424,261 |
|
Paradise Co |
|
32,461,146 |
| |
|
|
|
Korean ‘Foreigner Only’ Casino Operator |
|
|
| |
|
74,400 |
|
KCC |
|
31,265,943 |
| |
|
|
|
Paint & Housing Material Manufacturer |
|
|
| |
|
510,998 |
|
LS Industrial Systems |
|
30,910,439 |
| |
|
|
|
Manufacturer of Electrical & Automation Equipment |
|
|
| |
|
246,300 |
|
CJ Corp |
|
26,595,716 |
| |
|
|
|
Holding Company of Korean Consumer Conglomerate |
|
|
| |
|
16,200 |
|
Lotte Chilsung Beverage |
|
25,574,788 |
| |
|
|
|
Beverages & Liquor Manufacturer |
|
|
| |
|
545,000 |
|
Samsung Securities |
|
23,851,271 |
| |
|
|
|
Brokerage & Wealth Management |
|
|
| |
|
465,540 |
|
Kepco Plant Service & Engineering |
|
23,548,798 |
| |
|
|
|
Power Plant & Grid Maintenance |
|
|
| |
|
563,431 |
|
Handsome |
|
15,090,328 |
| |
|
|
|
High-end Apparel Company |
|
|
| |
|
502,644 |
|
iMarketKorea |
|
11,730,619 |
| |
|
|
|
Procurement, Distribution of MRO (Maintenance, Repair, Operations) Goods |
|
|
| |
|
|
|
|
|
|
| |
|
Number of Shares |
|
|
|
Value |
| |
|
|
|
> Korea—continued |
|
|
| |
|
704,000 |
|
Nexen Tire |
|
$ |
10,479,212 |
|
|
|
|
Tire Manufacturer |
|
|
| |
|
|
|
|
|
269,358,415 |
| |
|
|
|
> Singapore 2.4% |
|
|
| |
|
40,000,000 |
|
Mapletree Commercial Trust |
|
38,764,114 |
| |
|
|
|
Retail & Office Property Landlord |
|
|
| |
|
13,500,000 |
|
Ascendas REIT |
|
24,563,124 |
| |
|
|
|
Industrial Property Landlord |
|
|
| |
|
18,784,000 |
|
CDL Hospitality Trust |
|
24,383,041 |
| |
|
|
|
Hotel Owner/Operator |
|
|
| |
|
7,000,000 |
|
Super Group |
|
23,674,401 |
| |
|
|
|
Instant Food & Beverages in Southeast Asia |
|
|
| |
|
3,800,000 |
|
Singapore Exchange |
|
22,011,434 |
| |
|
|
|
Singapore Equity & Derivatives Market Operator |
|
|
| |
|
20,000,000 |
|
Mapletree Industrial Trust |
|
21,513,467 |
| |
|
|
|
Industrial Property Landlord |
|
|
| |
|
25,000,000 |
|
Mapletree Logistics Trust |
|
21,342,115 |
| |
|
|
|
Industrial Property Landlord |
|
|
| |
|
4,772,000 |
|
Petra Foods |
|
13,173,656 |
| |
|
|
|
Cocoa Processor & Chocolate Manufacturer |
|
|
| |
|
1,191,000 |
|
Goodpack Limited |
|
1,642,366 |
| |
|
|
|
International Bulk Container Leasing |
|
|
| |
|
|
|
|
|
191,067,718 |
| |
|
|
|
> China 1.7% |
|
|
| |
|
2,357,000 |
|
WuXi PharmaTech - ADR (c) |
|
64,581,800 |
| |
|
|
|
Largest Contract Research Organization Business in China |
|
|
| |
|
4,524,000 |
|
Biostime (a) |
|
34,202,467 |
| |
|
|
|
Pediatric Nutrition & Baby Care Products Provider |
|
|
| |
|
11,020,000 |
|
Want Want |
|
16,757,865 |
| |
|
|
|
Chinese Branded Consumer Food Company |
|
|
| |
|
35,119,000 |
|
AMVIG Holdings |
|
15,138,010 |
| |
|
|
|
Chinese Tobacco Packaging Material Supplier |
|
|
| |
|
4,561,300 |
|
Digital China |
|
5,594,465 |
| |
|
|
|
IT Distribution & Systems Integration Services |
|
|
| |
|
|
|
|
|
136,274,607 |
| |
|
|
|
> Indonesia 1.5% |
|
|
| |
|
31,764,600 |
|
Archipelago Resources (b)(d)(e)(f) |
|
29,093,548 |
| |
|
|
|
Gold Mining Projects in Indonesia, Vietnam & the Philippines |
|
|
| |
|
48,636,500 |
|
Tower Bersama Infrastructure (c) |
|
24,568,405 |
| |
|
|
|
Communications Towers |
|
|
| |
|
250,000,000 |
|
Ace Indonesia |
|
15,128,143 |
| |
|
|
|
Home Improvement Retailer |
|
|
| |
|
4,800,000 |
|
Mayora Indah |
|
13,110,747 |
| |
|
|
|
Consumer Branded Food Manufacturer |
|
|
| |
|
58,000,000 |
|
Surya Citra Media |
|
12,774,860 |
| |
|
|
|
Free to Air TV Station in Indonesia |
|
|
| |
|
10,917,000 |
|
Matahari Department Store (c) |
|
9,902,031 |
| |
|
|
|
Largest Department Store Chain in Indonesia |
|
|
| |
|
49,000,000 |
|
MNC Skyvision (c) |
|
7,573,203 |
| |
|
|
|
Largest Satellite Pay TV Operator in Indonesia |
|
|
| |
|
69,428,000 |
|
Arwana Citramulia |
|
5,100,117 |
| |
|
|
|
Ceramic Tiles for Home Decoration |
|
|
| |
|
1,721,000 |
|
Mitra Adiperkasa |
|
921,457 |
| |
|
|
|
Operator of Department Store & Specialty Retail Stores |
|
|
| |
|
4,412,508 |
|
Southern Arc Minerals (c) |
|
385,540 |
| |
|
|
|
Gold & Copper Exploration in Indonesia |
|
|
| |
|
|
|
|
|
118,558,051 |
| |
|
|
|
> India 1.5% |
|
|
| |
|
3,423,265 |
|
Asian Paints |
|
25,133,577 |
| |
|
|
|
India’s Largest Paint Company |
|
|
| |
|
1,655,000 |
|
United Breweries |
|
22,747,753 |
| |
|
|
|
India’s Largest Brewer |
|
|
| |
|
920,000 |
|
Colgate Palmolive India |
|
18,223,762 |
| |
|
|
|
Consumer Products in Oral Care |
|
|
| |
|
7,500,000 |
|
Adani Ports & Special Economic Zone |
|
16,554,286 |
| |
|
|
|
Indian West Coast Shipping Port |
|
|
| |
|
85,000 |
|
Bosch |
|
12,284,715 |
| |
|
|
|
Automotive Parts |
|
|
| |
|
13,195,000 |
|
Redington India |
|
11,534,909 |
| |
|
|
|
Supply Chain Solutions for IT & Mobile Handsets in Emerging Markets |
|
|
| |
|
125,000 |
|
TTK Prestige |
|
6,649,957 |
| |
|
|
|
Branded Cooking Equipment |
|
|
| |
|
1,650,000 |
|
SKIL Ports and Logistics (c) |
|
2,297,220 |
| |
|
|
|
Indian Container Port Project |
|
|
| |
|
|
|
|
|
115,426,179 |
| |
|
|
|
> Thailand 1.2% |
|
|
| |
|
100,000,000 |
|
Home Product Center |
|
39,115,802 |
| |
|
|
|
Home Improvement Retailer |
|
|
| |
|
4,500,000 |
|
Airports of Thailand |
|
27,163,056 |
| |
|
|
|
Airport Operator of Thailand |
|
|
| |
|
16,000,000 |
|
Robinson’s Department Store |
|
24,350,665 |
| |
|
|
|
Department Store Operator in Thailand |
|
|
| |
|
10,000,000 |
|
Samui Airport Property Fund |
|
5,398,731 |
| |
|
|
|
Thai Airport Operator |
|
|
| |
|
|
|
|
|
96,028,254 |
| |
|
|
|
> Philippines 0.8% |
|
|
| |
|
7,000,000 |
|
Int’l Container Terminal |
|
15,609,043 |
| |
|
|
|
Container Handling Terminals & Port Management |
|
|
| |
|
42,000,000 |
|
SM Prime Holdings |
|
15,432,774 |
| |
|
|
|
Shopping Mall Operator |
|
|
| |
|
60,000,000 |
|
Melco Crown (Philippines) Resorts (c) |
|
15,158,475 |
| |
|
|
|
Integrated Resort Operator in Manila |
|
|
| |
|
4,859,370 |
|
Security Bank |
|
14,646,711 |
| |
|
|
|
Commercial Bank in Philippines |
|
|
| |
|
4,530,200 |
|
Puregold Price Club |
|
4,344,084 |
| |
|
|
|
Supermarket Operator in Philippines |
|
|
| |
|
|
|
|
|
65,191,087 |
| |
|
Number of Shares |
|
|
|
Value |
| |
|
|
|
> Cambodia 0.6% |
|
|
| |
|
60,000,000 |
|
Nagacorp |
|
$ |
50,623,278 |
|
|
|
|
Casino/Entertainment Complex in Cambodia |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Mongolia 0.3% |
|
|
| |
|
62,976,200 |
|
Mongolian Mining (c) |
|
11,294,760 |
| |
|
|
|
Coking Coal Mining in Mongolia |
|
|
| |
|
1,049,943 |
|
Turquoise Hill Resources (c) |
|
4,637,872 |
| |
|
914,678 |
|
Turquoise Hill Resources (a)(c)(g) |
|
4,042,877 |
| |
|
|
|
Copper Mine Project in Mongolia |
|
|
| |
|
|
|
|
|
19,975,509 |
| |
|
|
|
> Malaysia 0.1% |
|
|
| |
|
1,918,200 |
|
Aeon |
|
9,062,825 |
| |
|
|
|
Shopping Center & Department Store Operator |
|
|
| |
|
Asia: Total |
|
|
|
3,542,726,598 |
| |
|
|
|
|
|
|
| |
|
Europe 32.3% |
|
|
|
|
| |
|
|
|
> United Kingdom 9.1% |
|
|
| |
|
4,561,000 |
|
Jardine Lloyd Thompson Group |
|
69,776,980 |
| |
|
|
|
International Business Insurance Broker |
|
|
| |
|
1,214,089 |
|
Spirax Sarco |
|
59,259,520 |
| |
|
|
|
Steam Systems for Manufacturing & Process Industries |
|
|
| |
|
3,937,000 |
|
Telecity |
|
52,900,990 |
| |
|
|
|
European Data Center Provider |
|
|
| |
|
2,257,802 |
|
Babcock International |
|
43,715,688 |
| |
|
|
|
Public Sector Outsourcer |
|
|
| |
|
3,186,211 |
|
WH Smith (a) |
|
42,657,984 |
| |
|
|
|
Newsprint, Books & General Stationery Retailer |
|
|
| |
|
960,100 |
|
Croda |
|
41,266,847 |
| |
|
|
|
Oleochemicals & Industrial Chemicals |
|
|
| |
|
10,944,000 |
|
Smiths News (b) |
|
36,320,368 |
| |
|
|
|
Newspaper & Magazine Distributor |
|
|
| |
|
3,565,000 |
|
Shaftesbury |
|
34,051,154 |
| |
|
|
|
London Prime Retail REIT |
|
|
| |
|
3,583,000 |
|
Domino’s Pizza UK & Ireland |
|
33,875,050 |
| |
|
|
|
Pizza Delivery in UK, Ireland & Germany |
|
|
| |
|
2,709,000 |
|
Smith & Nephew |
|
33,812,998 |
| |
|
|
|
Medical Equipment & Supplies |
|
|
| |
|
3,850,000 |
|
Abcam |
|
31,537,810 |
| |
|
|
|
Online Sales of Antibodies |
|
|
| |
|
7,760,000 |
|
Elementis |
|
30,112,724 |
| |
|
|
|
Clay-based Additives |
|
|
| |
|
4,577,000 |
|
Halford’s |
|
29,164,618 |
| |
|
|
|
The UK’s Leading Retailer for Leisure Goods & Auto Parts |
|
|
| |
|
646,000 |
|
Rightmove |
|
24,775,240 |
| |
|
|
|
Internet Real Estate Listings |
|
|
| |
|
584,273 |
|
AVEVA |
|
24,573,966 |
| |
|
|
|
Engineering Software |
|
|
| |
|
708,000 |
|
Fidessa Group |
|
22,786,096 |
| |
|
|
|
Software for Financial Trading Systems |
|
|
| |
|
875,000 |
|
Aggreko |
|
22,721,275 |
| |
|
|
|
Temporary Power & Temperature Control Services |
|
|
| |
|
34,752,000 |
|
Cable and Wireless |
|
22,295,857 |
| |
|
|
|
Leading Telecoms Service Provider in the Caribbean |
|
|
| |
|
464,002 |
|
Whitbread |
|
22,264,777 |
| |
|
|
|
The UK’s Leading Hotelier & Coffee Shop |
|
|
| |
|
3,100,000 |
|
PureCircle (a)(c) |
|
17,063,216 |
| |
|
|
|
Natural Sweeteners |
|
|
| |
|
1,864,319 |
|
Ocado (c) |
|
11,951,866 |
| |
|
|
|
Online Grocery Retailer |
|
|
| |
|
160,000 |
|
Intertek Group |
|
8,560,748 |
| |
|
|
|
Testing, Inspection, Certification Services |
|
|
| |
|
382,581 |
|
Tullow Oil |
|
6,342,254 |
| |
|
|
|
Oil & Gas Producer |
|
|
| |
|
1,364,000 |
|
Foxtons (c) |
|
5,962,089 |
| |
|
|
|
London-centric Residential Real Estate Broker |
|
|
| |
|
58,508 |
|
Telecom Plus |
|
1,199,138 |
| |
|
|
|
UK Multi Utility |
|
|
| |
|
|
|
|
|
728,949,253 |
| |
|
|
|
> France 3.5% |
|
|
| |
|
1,100,000 |
|
Neopost (a) |
|
80,106,334 |
| |
|
|
|
Postage Meter Machines |
|
|
| |
|
314,000 |
|
Eurofins Scientific |
|
79,139,317 |
| |
|
|
|
Food, Pharmaceuticals & Materials Screening & Testing |
|
|
| |
|
531,700 |
|
Gemalto |
|
57,091,681 |
| |
|
|
|
Digital Security Solutions |
|
|
| |
|
308,400 |
|
Norbert Dentressangle |
|
32,960,307 |
| |
|
|
|
Leading European Logistics & Transport Group |
|
|
| |
|
1,002,314 |
|
Saft |
|
27,648,452 |
| |
|
|
|
Niche Battery Manufacturer |
|
|
| |
|
1,831,204 |
|
Hi-Media (a)(c) |
|
4,459,221 |
| |
|
|
|
Online Advertiser in Europe |
|
|
| |
|
|
|
|
|
281,405,312 |
| |
|
|
|
> Netherlands 3.4% |
|
|
| |
|
2,971,770 |
|
Aalberts Industries |
|
79,180,998 |
| |
|
|
|
Flow Control & Heat Treatment |
|
|
| |
|
1,514,545 |
|
UNIT4 (b) |
|
59,317,186 |
| |
|
|
|
Business Software Development |
|
|
| |
|
1,178,288 |
|
TKH Group |
|
35,292,211 |
| |
|
|
|
Dutch Industrial Conglomerate |
|
|
| |
|
520,900 |
|
Fugro |
|
31,774,914 |
| |
|
|
|
Subsea Oilfield Services |
|
|
| |
|
1,068,478 |
|
Arcadis |
|
30,557,679 |
| |
|
|
|
Engineering Consultants |
|
|
| |
|
143,395 |
|
Core Labs |
|
24,263,868 |
| |
|
|
|
Oil & Gas Reservoir Consulting |
|
|
| |
|
266,124 |
|
Vopak |
|
15,248,900 |
| |
|
|
|
World’s Largest Operator of Petroleum & Chemical Storage Terminals |
|
|
| |
|
19,500 |
|
Frank’s International (c) |
|
583,635 |
| |
|
|
|
Global Provider of Casing Running Services Post Drilling of Wells |
|
|
| |
|
|
|
|
|
276,219,391 |
| |
|
Number of Shares |
|
|
|
Value |
| |
|
|
|
> Germany 3.0% |
|
|
| |
|
1,663,000 |
|
Wirecard |
|
$ |
56,885,948 |
|
|
|
|
Online Payment Processing & Risk Management |
|
|
| |
|
148,295 |
|
Rational |
|
44,236,921 |
| |
|
|
|
Commercial Ovens |
|
|
| |
|
727,453 |
|
NORMA Group |
|
35,045,052 |
| |
|
|
|
Clamps for Automotive & Industrial Applications |
|
|
| |
|
2,580,000 |
|
TAG Immobilien |
|
32,017,019 |
| |
|
|
|
Owner of Residential Properties in Germany |
|
|
| |
|
595,000 |
|
Elringklinger |
|
26,772,505 |
| |
|
|
|
Automobile Components |
|
|
| |
|
795,000 |
|
Aurelius |
|
25,758,611 |
| |
|
|
|
European Turnaround Investor |
|
|
| |
|
90,000 |
|
Bertrandt |
|
11,330,664 |
| |
|
|
|
Outsourced Engineering |
|
|
| |
|
260,000 |
|
Deutsche Beteiligungs |
|
6,735,842 |
| |
|
|
|
Private Equity Investment Management |
|
|
| |
|
|
|
|
|
238,782,562 |
| |
|
|
|
> Switzerland 2.6% |
|
|
| |
|
302,300 |
|
Partners Group |
|
74,108,376 |
| |
|
|
|
Private Markets Asset Management |
|
|
| |
|
179,000 |
|
Geberit |
|
48,335,047 |
| |
|
|
|
Plumbing Supplies |
|
|
| |
|
16,300 |
|
Sika |
|
47,511,251 |
| |
|
|
|
Chemicals for Construction & Industrial Applications |
|
|
| |
|
54,886 |
|
INFICON |
|
17,600,420 |
| |
|
|
|
Gas Detection Instruments |
|
|
| |
|
380,000 |
|
Zehnder |
|
16,933,710 |
| |
|
|
|
Radiators & Heat Recovery Ventilation Systems |
|
|
| |
|
|
|
|
|
204,488,804 |
| |
|
|
|
> Sweden 2.0% |
|
|
| |
|
2,747,522 |
|
Hexagon |
|
82,852,749 |
| |
|
|
|
Design, Measurement & Visualization Software & Equipment |
|
|
| |
|
3,255,024 |
|
Sweco |
|
42,038,214 |
| |
|
|
|
Engineering Consultants |
|
|
| |
|
868,700 |
|
Unibet |
|
34,873,979 |
| |
|
|
|
European Online Gaming Operator |
|
|
| |
|
|
|
|
|
159,764,942 |
| |
|
|
|
> Denmark 1.8% |
|
|
| |
|
1,702,063 |
|
SimCorp |
|
57,269,537 |
| |
|
|
|
Software for Investment Managers |
|
|
| |
|
1,315,800 |
|
Novozymes |
|
50,335,060 |
| |
|
|
|
Industrial Enzymes |
|
|
| |
|
788,000 |
|
Jyske Bank (c) |
|
39,134,861 |
| |
|
|
|
Danish Bank |
|
|
| |
|
|
|
|
|
146,739,458 |
| |
|
|
|
> Finland 1.4% |
|
|
| |
|
582,500 |
|
Vacon |
|
45,863,660 |
| |
|
|
|
Leading Independent Manufacturer of Variable Speed Alternating Current Drives |
|
|
| |
|
1,472,689 |
|
Tikkurila |
|
39,248,861 |
| |
|
|
|
Decorative & Industrial Paint in Scandinavia & Central & Eastern Europe |
|
|
| |
|
761,000 |
|
Konecranes |
|
25,624,733 |
| |
|
|
|
Manufacture & Service of Industrial Cranes & Port Handling Equipment |
|
|
| |
|
|
|
|
|
110,737,254 |
| |
|
|
|
> Spain 1.3% |
|
|
| |
|
6,064,000 |
|
Dia |
|
52,577,418 |
| |
|
|
|
Leading Hard Discounter in Spain, Latin America & the Eastern Mediterranean |
|
|
| |
|
570,000 |
|
Viscofan |
|
32,595,444 |
| |
|
|
|
Sausage Casings Maker |
|
|
| |
|
700,745 |
|
Bolsas y Mercados Españoles |
|
22,235,415 |
| |
|
|
|
Spanish Stock Markets |
|
|
| |
|
|
|
|
|
107,408,277 |
| |
|
|
|
> Norway 1.0% |
|
|
| |
|
3,281,864 |
|
Atea |
|
34,520,085 |
| |
|
|
|
Leading Nordic IT Hardware/Software Reseller & Installation Company |
|
|
| |
|
1,321,000 |
|
Subsea 7 |
|
27,460,192 |
| |
|
|
|
Offshore Subsea Contractor |
|
|
| |
|
2,876,245 |
|
Orkla |
|
20,950,323 |
| |
|
|
|
Food & Brands, Aluminum, Chemicals Conglomerate |
|
|
| |
|
|
|
|
|
82,930,600 |
| |
|
|
|
> Russia 0.8% |
|
|
| |
|
1,167,000 |
|
Yandex (c) |
|
42,502,140 |
| |
|
|
|
Search Engine for Russian & Turkish Languages |
|
|
| |
|
400,000 |
|
QIWI - ADR |
|
12,504,000 |
| |
|
|
|
Electronic Payments Network Serving Russia & the Commonwealth of Independent States |
|
|
| |
|
4,260,219 |
|
Moscow Exchange |
|
8,158,469 |
| |
|
|
|
Russia’s Main Exchange for Stocks, Bonds, Derivatives, Currencies & Repo |
|
|
| |
|
|
|
|
|
63,164,609 |
| |
|
|
|
> Italy 0.6% |
|
|
| |
|
2,984,000 |
|
Pirelli |
|
38,855,218 |
| |
|
|
|
Global Tire Supplier |
|
|
| |
|
4,567,745 |
|
Geox (a) |
|
12,482,541 |
| |
|
|
|
Apparel & Shoe Maker |
|
|
| |
|
|
|
|
|
51,337,759 |
| |
|
|
|
> Kazakhstan 0.5% |
|
|
| |
|
5,143,000 |
|
Halyk Savings Bank of Kazakhstan - GDR |
|
40,629,700 |
| |
|
|
|
Largest Retail Bank & Insurer in Kazakhstan |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Iceland 0.4% |
|
|
| |
|
28,312,499 |
|
Marel (h) |
|
20,698,752 |
| |
|
7,670,000 |
|
Marel (h) |
|
8,156,185 |
| |
|
|
|
Largest Manufacturer of Poultry & Fish Processing Equipment |
|
|
| |
|
|
|
|
|
28,854,937 |
| |
|
Number of Shares |
|
|
|
Value |
| |
|
|
|
> Belgium 0.4% |
|
|
| |
|
437,465 |
|
EVS Broadcast Equipment |
|
$ |
28,224,121 |
|
|
|
|
Digital Live Mobile Production Software & Systems |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Turkey 0.3% |
|
|
| |
|
1,785,000 |
|
Bizim Toptan |
|
23,063,043 |
| |
|
|
|
Cash & Carry Stores in Turkey |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Portugal 0.2% |
|
|
| |
|
4,123,318 |
|
Redes Energéticas Nacionais |
|
12,327,894 |
| |
|
|
|
Portuguese Power Transmission & Gas Transportation |
|
|
| |
|
Europe: Total |
|
|
|
2,585,027,916 |
| |
|
|
|
|
|
|
| |
|
Other Countries 14.3% |
|
|
| |||
|
|
|
> South Africa 4.1% |
|
|
| |
|
13,888,359 |
|
Coronation Fund Managers |
|
94,892,202 |
| |
|
|
|
South African Fund Manager |
|
|
| |
|
777,188 |
|
Naspers |
|
71,867,974 |
| |
|
|
|
Media in Africa, China, Russia & Other Emerging Markets |
|
|
| |
|
19,098,300 |
|
Rand Merchant Insurance |
|
50,902,169 |
| |
|
|
|
Directly Sold Property & Casualty Insurance; Holdings in Other Insurers |
|
|
| |
|
2,230,504 |
|
Massmart Holdings |
|
37,348,904 |
| |
|
|
|
General Merchandise, Food & Home Improvement Stores; Wal-Mart Subsidiary |
|
|
| |
|
8,679,940 |
|
Northam Platinum (c) |
|
36,655,408 |
| |
|
|
|
Platinum Mining in South Africa |
|
|
| |
|
2,644,083 |
|
Mr. Price |
|
36,618,584 |
| |
|
|
|
South African Retailer of Apparel, Household & Sporting Goods |
|
|
| |
|
|
|
|
|
328,285,241 |
| |
|
|
|
> Canada 3.9% |
|
|
| |
|
1,303,772 |
|
CCL Industries |
|
86,487,783 |
| |
|
|
|
Largest Global Label Converter |
|
|
| |
|
1,084,597 |
|
ShawCor |
|
45,740,395 |
| |
|
|
|
Oil & Gas Pipeline Products |
|
|
| |
|
3,188,000 |
|
CAE |
|
34,911,548 |
| |
|
|
|
Flight Simulator Equipment & Training Centers |
|
|
| |
|
653,200 |
|
Onex Capital |
|
34,307,189 |
| |
|
|
|
Private Equity |
|
|
| |
|
1,853,324 |
|
DeeThree Exploration (c) |
|
16,445,203 |
| |
|
1,130,000 |
|
DeeThree Exploration (c)(e) |
|
9,826,354 |
| |
|
|
|
Canadian Oil & Gas Producer |
|
|
| |
|
600,249 |
|
AG Growth (a) |
|
22,639,361 |
| |
|
|
|
Leading Manufacturer of Augers & Grain Handling Equipment |
|
|
| |
|
709,576 |
|
Black Diamond Group (a) |
|
16,960,110 |
| |
|
|
|
Provides Accommodations/Equipment for Oil Sands Development |
|
|
| |
|
1,901,514 |
|
Horizon North Logistics (a) |
|
13,402,254 |
| |
|
|
|
Provides Diversified Oil Service Offering in Northern Canada |
|
|
| |
|
858,539 |
|
Alliance Grain Traders |
|
12,385,699 |
| |
|
|
|
Global Leader in Pulse Processing & Distribution |
|
|
| |
|
263,857 |
|
Baytex (a) |
|
10,889,336 |
| |
|
|
|
Oil & Gas Producer in Canada |
|
|
| |
|
450,000 |
|
Athabasca Oil Sands (c) |
|
3,429,445 |
| |
|
|
|
Oil Sands & Unconventional Oil Development |
|
|
| |
|
1,607,306 |
|
Pan Orient (c) |
|
3,230,060 |
| |
|
|
|
Growth-oriented, Return-focused Asian Explorer |
|
|
| |
|
|
|
|
|
310,654,737 |
| |
|
|
|
> Australia 2.9% |
|
|
| |
|
10,200,000 |
|
IAG |
|
55,914,855 |
| |
|
|
|
General Insurance Provider |
|
|
| |
|
10,653,000 |
|
Challenger Financial |
|
54,711,195 |
| |
|
|
|
Largest Annuity Provider |
|
|
| |
|
3,493,775 |
|
Domino’s Pizza Enterprises |
|
44,457,979 |
| |
|
|
|
Domino’s Pizza Operator in Australia/New Zealand & France/Benelux |
|
|
| |
|
9,863,787 |
|
SAI Global |
|
40,894,284 |
| |
|
|
|
Publishing, Certification, Compliance Services |
|
|
| |
|
24,418,249 |
|
Commonwealth Property Office Fund |
|
26,010,943 |
| |
|
|
|
Australia Prime Office REIT |
|
|
| |
|
1,166,443 |
|
Austbrokers |
|
12,176,678 |
| |
|
|
|
Local Australian Small Business Insurance Broker |
|
|
| |
|
|
|
|
|
234,165,934 |
| |
|
|
|
> United States 2.5% |
|
|
| |
|
952,080 |
|
Atwood Oceanics (c) |
|
52,402,483 |
| |
|
|
|
Offshore Drilling Contractor |
|
|
| |
|
1,272,297 |
|
Textainer Group Holdings (a) |
|
48,181,887 |
| |
|
|
|
Top International Container Leaser |
|
|
| |
|
1,052,900 |
|
Rowan (c) |
|
38,662,488 |
| |
|
|
|
Contract Offshore Driller |
|
|
| |
|
601,213 |
|
FMC Technologies (c) |
|
33,319,225 |
| |
|
|
|
Oil & Gas Well Head Manufacturer |
|
|
| |
|
439,500 |
|
Hornbeck Offshore (c) |
|
25,244,880 |
| |
|
|
|
Supply Vessel Operator in U.S. Gulf of Mexico |
|
|
| |
|
|
|
|
|
197,810,963 |
| |
|
|
|
> New Zealand 0.5% |
|
|
| |
|
12,000,000 |
|
Auckland International Airport |
|
33,033,451 |
| |
|
|
|
Auckland Airport |
|
|
| |
|
1,622,847 |
|
Sky City Entertainment |
|
5,404,807 |
| |
|
|
|
Casino/Entertainment Complex |
|
|
| |
|
|
|
|
|
38,438,258 |
| |
|
|
|
> Israel 0.4% |
|
|
| |
|
791,000 |
|
Caesarstone (c) |
|
36,132,880 |
| |
|
|
|
Quartz Countertops |
|
|
| |
|
Other Countries: Total |
|
1,145,488,013 |
| |||
|
|
|
|
|
|
| |
|
Latin America 5.0% |
|
|
| |||
|
|
|
> Brazil 1.9% |
|
|
| |
|
4,000,000 |
|
Localiza Rent A Car |
|
59,919,686 |
| |
|
|
|
Car Rental |
|
|
| |
|
55,632,340 |
|
Beadell Resources (b)(c) |
|
48,219,857 |
| |
|
|
|
Gold Mining in Brazil |
|
|
| |
|
Number of Shares |
|
|
|
Value |
| |
|
|
|
> Brazil—continued |
|
|
| |
|
6,000,000 |
|
Odontoprev |
|
$ |
26,503,632 |
|
|
|
|
Dental Insurance |
|
|
| |
|
1,000,000 |
|
Linx |
|
16,807,291 |
| |
|
|
|
Retail Management Software in Brazil |
|
|
| |
|
|
|
|
|
151,450,466 |
| |
|
|
|
> Mexico 1.7% |
|
|
| |
|
18,255,800 |
|
Genomma Lab Internacional (c) |
|
41,701,243 |
| |
|
|
|
Develops, Markets & Distributes Consumer Products |
|
|
| |
|
6,090,000 |
|
Gruma (c) |
|
33,963,864 |
| |
|
|
|
Tortilla Producer & Distributor |
|
|
| |
|
13,782,000 |
|
Qualitas |
|
33,535,025 |
| |
|
|
|
Leading Auto Insurer in Mexico & Central America |
|
|
| |
|
200,000 |
|
Grupo Aeroportuario del Sureste - ADR |
|
21,772,000 |
| |
|
|
|
Mexican Airport Operator |
|
|
| |
|
2,975,535 |
|
Bolsa Mexicana de Valores |
|
7,112,914 |
| |
|
|
|
Mexico’s Stock Exchange |
|
|
| |
|
|
|
|
|
138,085,046 |
| |
|
|
|
> Chile 0.6% |
|
|
| |
|
814,000 |
|
Sociedad Quimica y Minera de Chile - ADR |
|
24,867,700 |
| |
|
|
|
Producer of Specialty Fertilizers, Lithium & Iodine |
|
|
| |
|
23,280,000 |
|
Empresas Hites (b) |
|
21,310,597 |
| |
|
|
|
Mass Retailer for the Lower Income Strata |
|
|
| |
|
|
|
|
|
46,178,297 |
| |
|
|
|
> Guatemala 0.3% |
|
|
| |
|
1,626,600 |
|
Tahoe Resources (c) |
|
29,277,379 |
| |
|
|
|
Silver Project in Guatemala |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Colombia 0.3% |
|
|
| |
|
14,729,000 |
|
Isagen (c) |
|
22,561,457 |
| |
|
|
|
Colombian Electricity Provider |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Uruguay 0.2% |
|
|
| |
|
1,306,818 |
|
Union Agriculture Group (c)(d)(e) |
|
14,009,089 |
| |
|
|
|
Farmland Operator in Uruguay |
|
|
| |
|
Latin America: Total |
|
401,561,734 |
| |||
|
|
|
|
|
|
| |
|
Total Equities: 95.9% |
|
7,674,804,261 |
(i) | |||
|
|
|
|
|
|
| |
|
Short-Term Investments 4.3% |
|
|
| |||
|
217,164,551 |
|
JPMorgan U.S. Government Money Market Fund, Agency Shares (7 day yield of 0.01%) |
|
217,164,551 |
| |
|
132,103,807 |
|
JPMorgan U.S. Government Money Market Fund, Capital Shares (7 day yield of 0.01%) |
|
132,103,807 |
| |
|
Total Short-Term Investments: 4.3% |
|
349,268,358 |
| |||
|
|
|
|
|
|
| |
|
Securities Lending Collateral 0.9% |
|
|
| |||
|
71,916,853 |
|
Dreyfus Government Cash Management Fund, Institutional Shares (7 day yield of 0.01%) (j) |
|
71,916,853 |
| |
|
Total Securities Lending Collateral: |
|
71,916,853 |
| |||
|
|
|
|
|
|
| |
|
Total Investments: 101.1% |
|
8,095,989,472 |
(l) | |||
|
|
|
|
|
|
| |
|
Obligation to Return Collateral for Securities Loaned: (0.9)% |
|
(71,916,853 |
) | |||
|
|
|
|
|
|
| |
|
Cash and Other Assets Less Liabilities: (0.2)% |
|
(19,021,227 |
) | |||
|
|
|
|
|
|
| |
|
Net Assets: 100.0% |
|
$ |
8,005,051,392 |
| ||
ADR - American Depositary Receipts
GDR - Global Depositary Receipts
REIT - Real Estate Investment Trust
> Notes to Statement of Investments
(a) All or a portion of this security was on loan at September 30, 2013. The total market value of securities on loan at September 30, 2013 was $68,545,290.
(b) An affiliated person of the Fund, as defined in the Investment Company Act of 1940, 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 September 30, 2013, are as follows:
|
Security |
|
Balance of |
|
Purchases/ |
|
Sales/ |
|
Balance of |
|
Value |
|
Dividend |
| ||
|
UNIT4 |
|
1,574,145 |
|
— |
|
59,600 |
|
1,514,545 |
|
$ |
59,317,186 |
|
$ |
881,545 |
|
|
Wacom (1)(2) |
|
21,500 |
|
6,687,400 |
|
908,900 |
|
5,800,000 |
|
55,792,813 |
|
881,792 |
| ||
|
Beadell Resources |
|
17,793,303 |
|
37,839,037 |
|
— |
|
55,632,340 |
|
48,219,857 |
|
— |
| ||
|
Sweco (1) |
|
4,150,024 |
|
— |
|
895,000 |
|
3,255,024 |
|
42,038,214 |
|
2,061,879 |
| ||
|
Nakanishi (1) |
|
295,762 |
|
25,400 |
|
51,162 |
|
270,000 |
|
37,690,294 |
|
(40 |
) | ||
|
Smiths News |
|
— |
|
10,944,000 |
|
|
|
10,944,000 |
|
36,320,368 |
|
425,393 |
| ||
|
Archipelago Resources |
|
31,764,600 |
|
— |
|
— |
|
31,764,600 |
|
29,093,548 |
|
1,483,018 |
| ||
|
Empresas Hites |
|
— |
|
23,280,000 |
|
— |
|
23,280,000 |
|
21,310,597 |
|
474,018 |
| ||
|
Icom |
|
732,108 |
|
102,892 |
|
— |
|
835,000 |
|
19,786,268 |
|
232,865 |
| ||
|
Southern Arc Minerals (1) |
|
6,217,500 |
|
— |
|
1,804,992 |
|
4,412,508 |
|
385,540 |
|
— |
| ||
|
Total of Affiliated Transactions |
|
62,548,942 |
|
78,878,729 |
|
3,719,654 |
|
137,708,017 |
|
$ |
349,954,685 |
|
$ |
6,440,470 |
|
(1) At September 30, 2013, the Fund owned less than five percent of the company’s outstanding voting shares.
(2) Includes the effects of a stock split.
The aggregate cost and value of these companies at September 30, 2013, was $172,679,804 and $214,047,824, respectively. Investments in affiliated companies represented 2.67% of the Fund’s total net assets at September 30, 2013.
(c) Non-income producing security.
(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 September 30, 2013, the market value of these securities amounted to $52,928,991, which represented 0.66% of total net assets. Additional information on these securities is as follows:
|
Security |
|
Acquisition |
|
Shares/Units |
|
Cost |
|
Value |
| ||
|
Archipelago Resources |
|
2/30/10-9/26/13 |
|
31,764,600 |
|
$ |
18,376,857 |
|
$ |
29,093,548 |
|
|
Union Agriculture Group |
|
12/8/10-6/27/12 |
|
1,306,818 |
|
15,000,000 |
|
14,009,089 |
| ||
|
DeeThree Exploration |
|
9/7/10 |
|
1,130,000 |
|
2,950,812 |
|
9,826,354 |
| ||
|
|
|
|
|
|
|
$ |
36,327,669 |
|
$ |
52,928,991 |
|
(f) Units represent shares of security and related put options received through company restructuring. Additional information on the purchased options received is as follows:
|
Security |
|
Option Shares |
|
Exercise Price |
|
Expiration Date (1) |
| |
|
Archipelago Resources |
|
31,764,600 |
|
GBP |
0.58 |
|
October 31, 2014 |
|
GBP - British Pound
(1) Archipelago Resources is expected to restructure into a new company during 2014. From January 31, 2014, the option is exercisable until the earlier of (i) the date the company is restructured and prices the shares for its initial public offering or (ii) August 13, 2014, subject to extension until the date the company is restructured and prices the shares for its initial public offering (but not later than September 26, 2016). After August 13, 2014, the valuation of the option will fluctuate based upon its fair market value as determined in accordance with the put option agreement.
(g) Security is traded on a U.S. exchange.
(h) 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 Marel’s regulatory governing body, the Icelandic Central Bank.
(i) On September 30, 2013, the Fund’s total investments were denominated in currencies as follows:
|
Currency |
|
Value |
|
Percentage of |
| |
|
Japanese Yen |
|
$ |
1,584,632,167 |
|
19.8 |
|
|
Euro |
|
1,081,595,067 |
|
13.5 |
| |
|
British Pound |
|
760,340,022 |
|
9.5 |
| |
|
United States Dollar |
|
587,349,120 |
|
7.3 |
| |
|
Taiwan Dollar |
|
507,122,977 |
|
6.4 |
| |
|
Other currencies less than 5% of total net assets |
|
3,153,764,908 |
|
39.4 |
| |
|
Total Equities |
|
$ |
7,674,804,261 |
|
95.9 |
|
> Notes to Statement of Investments
(j) Investment made with cash collateral received from securities lending activity.
(k) At September 30, 2013, for federal income tax purposes, the cost of investments was $6,037,884,295 and net unrealized appreciation was $2,058,105,177 consisting of gross unrealized appreciation of $2,315,145,667 and gross unrealized depreciation of $257,040,490.
(l) 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 Fund’s 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 management’s 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 Fund’s 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 Trust’s 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 September 30, 2013, in valuing the Fund’s assets:
|
Investment Type |
|
Quoted Prices |
|
Other |
|
Significant |
|
Total |
| ||||
|
Equities |
|
|
|
|
|
|
|
|
| ||||
|
Asia |
|
$ |
169,138,089 |
|
$ |
3,344,494,961 |
|
$ |
29,093,548 |
|
$ |
3,542,726,598 |
|
|
Europe |
|
79,853,643 |
|
2,505,174,273 |
|
— |
|
2,585,027,916 |
| ||||
|
Other Countries |
|
534,772,226 |
|
610,715,787 |
|
— |
|
1,145,488,013 |
| ||||
|
Latin America |
|
339,332,788 |
|
48,219,857 |
|
14,009,089 |
|
401,561,734 |
| ||||
|
Total Equities |
|
1,123,096,746 |
|
6,508,604,878 |
|
43,102,637 |
|
7,674,804,261 |
| ||||
|
Total Short-Term Investments |
|
349,268,358 |
|
— |
|
— |
|
349,268,358 |
| ||||
|
Total Securities Lending Collateral |
|
71,916,853 |
|
— |
|
— |
|
71,916,853 |
| ||||
|
Total Investments |
|
$ |
1,544,281,957 |
|
$ |
6,508,604,878 |
|
$ |
43,102,637 |
|
$ |
8,095,989,472 |
|
> Notes to Statement of Investments
The Fund’s assets assigned to the Level 2 input category are generally valued using a market approach, in which a security’s 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 manager’s 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 company’s 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), September 30, 2013
|
Number of Shares |
|
|
|
Value |
| |
|
Equities: 99.5% |
|
|
| |||
|
Information 28.3% |
|
|
| |||
|
|
|
> Business Software 9.0% |
|
|
| |
|
745,000 |
|
Informatica (a) |
|
$ |
29,032,650 |
|
|
|
|
Enterprise Data Integration Software |
|
|
| |
|
299,000 |
|
Ansys (a) |
|
25,869,480 |
| |
|
|
|
Simulation Software for Engineers & Designers |
|
|
| |
|
178,000 |
|
Concur Technologies (a) |
|
19,669,000 |
| |
|
|
|
Web Enabled Cost & Expense Management Software |
|
|
| |
|
290,000 |
|
SPS Commerce (a) |
|
19,406,800 |
| |
|
|
|
Supply Chain Management Software Delivered Via the Web |
|
|
| |
|
170,000 |
|
NetSuite (a) |
|
18,349,800 |
| |
|
|
|
End-to-end IT Systems Solution Delivered Over the Web |
|
|
| |
|
335,000 |
|
Micros Systems (a) |
|
16,729,900 |
| |
|
|
|
Information Systems for Hotels, Restaurants & Retailers |
|
|
| |
|
330,000 |
|
RealPage (a)(b) |
|
7,642,800 |
| |
|
|
|
Software for Managing Rental Properties Delivered Via the Web |
|
|
| |
|
310,000 |
|
Exa (a) |
|
4,801,900 |
| |
|
|
|
Simulation Software |
|
|
| |
|
72,000 |
|
DemandWare (a) |
|
3,335,760 |
| |
|
|
|
E-Commerce Website Solution for Retailers & Apparel Manufacturers |
|
|
| |
|
126,000 |
|
E2Open (a)(b) |
|
2,822,400 |
| |
|
|
|
Supply Chain Management Software & Supplier/Partner Network |
|
|
| |
|
81,192 |
|
Webgroup.com (a) |
|
2,625,749 |
| |
|
|
|
Website Creation & Management for Small Businesses |
|
|
| |
|
82,000 |
|
Envestnet (a) |
|
2,542,000 |
| |
|
|
|
Technology Platform for Investment Advisors |
|
|
| |
|
286,000 |
|
InContact (a) |
|
2,365,220 |
| |
|
|
|
Call Center Systems Delivered Via the Web & Telco Services |
|
|
| |
|
|
|
|
|
155,193,459 |
| |
|
|
|
> Instrumentation 4.2% |
|
|
| |
|
164,000 |
|
Mettler-Toledo International (a) |
|
39,374,760 |
| |
|
|
|
Laboratory Equipment |
|
|
| |
|
427,000 |
|
IPG Photonics (b) |
|
24,044,370 |
| |
|
|
|
Fiber Lasers |
|
|
| |
|
274,000 |
|
Trimble Navigation (a) |
|
8,140,540 |
| |
|
|
|
GPS-based Instruments |
|
|
| |
|
|
|
|
|
71,559,670 |
| |
|
|
|
> Telephone & Data Services 2.4% |
|
|
| |
|
1,325,000 |
|
tw telecom (a) |
|
39,571,125 |
| |
|
|
|
Fiber Optic Telephone/Data Services |
|
|
| |
|
364,000 |
|
Boingo Wireless (a) |
|
2,548,000 |
| |
|
|
|
Wholesale & Retail Wi-Fi Networks |
|
|
| |
|
|
|
|
|
42,119,125 |
| |
|
|
|
> Gaming Equipment & Services 2.3% |
|
|
| |
|
555,000 |
|
Bally Technologies (a) |
|
39,993,300 |
| |
|
|
|
Slot Machines & Software |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Computer Services 2.0% |
|
|
| |
|
506,000 |
|
ExlService Holdings (a) |
|
14,410,880 |
| |
|
|
|
Business Process Outsourcing |
|
|
| |
|
327,000 |
|
WNS - ADR (India) (a) |
|
6,938,940 |
| |
|
|
|
Offshore Business Process Outsourcing Services |
|
|
| |
|
175,000 |
|
Virtusa (a) |
|
5,085,500 |
| |
|
|
|
Offshore IT Outsourcing |
|
|
| |
|
706,766 |
|
Hackett Group |
|
5,039,242 |
| |
|
|
|
IT Integration & Best Practice Research |
|
|
| |
|
582,000 |
|
RCM Technologies |
|
3,509,460 |
| |
|
|
|
Technology & Engineering Services |
|
|
| |
|
|
|
|
|
34,984,022 |
| |
|
|
|
> Telecommunications Equipment 2.0% |
|
|
| |
|
666,000 |
|
Finisar (a) |
|
15,071,580 |
| |
|
|
|
Optical Subsystems & Components |
|
|
| |
|
740,000 |
|
Ixia (a) |
|
11,595,800 |
| |
|
|
|
Telecom Network Test Equipment |
|
|
| |
|
281,000 |
|
CalAmp (a) |
|
4,954,030 |
| |
|
|
|
Machine-to-machine Communications |
|
|
| |
|
294,278 |
|
Infinera (a) |
|
3,328,284 |
| |
|
|
|
Optical Networking Equipment |
|
|
| |
|
|
|
|
|
34,949,694 |
| |
|
|
|
> Semiconductors & Related Equipment 1.8% |
|
|
| |
|
383,000 |
|
Monolithic Power Systems |
|
11,597,240 |
| |
|
|
|
High Performance Analog & Mixed Signal Integrated Circuits |
|
|
| |
|
1,150,000 |
|
Atmel (a) |
|
8,556,000 |
| |
|
|
|
Microcontrollers, Radio Frequency & Memory Semiconductors |
|
|
| |
|
238,000 |
|
Ultratech (a) |
|
7,211,400 |
| |
|
|
|
Semiconductor Equipment |
|
|
| |
|
45,000 |
|
Hittite Microwave (a) |
|
2,940,750 |
| |
|
|
|
Radio Frequency, Microwave & Millimeterwave Semiconductors |
|
|
| |
|
|
|
|
|
30,305,390 |
| |
|
|
|
> Computer Hardware & Related Equipment 1.6% |
|
|
| |
|
1,242,000 |
|
II-VI (a) |
|
23,374,440 |
| |
|
|
|
Laser Optics & Specialty Materials |
|
|
| |
|
83,000 |
|
Rogers (a) |
|
4,936,840 |
| |
|
|
|
Printed Circuit Materials & High-performance Foams |
|
|
| |
|
|
|
|
|
28,311,280 |
| |
|
|
|
> Mobile Communications 1.3% |
|
|
| |
|
273,000 |
|
SBA Communications (a) |
|
21,965,580 |
| |
|
|
|
Communications Towers |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Financial Processors 0.7% |
|
|
| |
|
139,000 |
|
Global Payments |
|
7,100,120 |
| |
|
|
|
Credit Card Processor |
|
|
| |
|
Number of Shares |
|
|
|
Value |
| |
|
|
|
> Financial Processors—continued |
|
|
| |
|
153,000 |
|
Liquidity Services (a)(b) |
|
$ |
5,134,680 |
|
|
|
|
E-Auctions for Surplus & Salvage Goods |
|
|
| |
|
|
|
|
|
12,234,800 |
| |
|
|
|
> Contract Manufacturing 0.5% |
|
|
| |
|
215,000 |
|
Plexus (a) |
|
7,998,000 |
| |
|
|
|
Electronic Manufacturing Services |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Internet Related 0.3% |
|
|
| |
|
141,831 |
|
RetailMeNot (a) |
|
5,044,929 |
| |
|
|
|
Digital Coupon Marketplace |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Business Information & Marketing Services 0.2% |
|
|
| |
|
228,294 |
|
RPX (a) |
|
4,001,994 |
| |
|
|
|
Patent Aggregation & Defensive Patent Consulting |
|
|
| |
|
Information: Total |
|
488,661,243 |
| |||
|
|
|
|
| |||
|
Industrial Goods & Services 20.3% |
|
|
| |||
|
|
|
> Machinery 14.8% |
|
|
| |
|
675,200 |
|
Nordson |
|
49,714,976 |
| |
|
|
|
Dispensing Systems for Adhesives & Coatings |
|
|
| |
|
871,000 |
|
Ametek |
|
40,083,420 |
| |
|
|
|
Aerospace/Industrial Instruments |
|
|
| |
|
855,000 |
|
Donaldson |
|
32,601,150 |
| |
|
|
|
Industrial Air Filtration |
|
|
| |
|
606,000 |
|
HEICO |
|
30,384,840 |
| |
|
|
|
FAA Approved Aircraft Replacement Parts |
|
|
| |
|
436,000 |
|
Moog (a) |
|
25,580,120 |
| |
|
|
|
Motion Control Products for Aerospace, Defense & Industrial Markets |
|
|
| |
|
760,000 |
|
ESCO Technologies |
|
25,254,800 |
| |
|
|
|
Automatic Electric Meter Readers |
|
|
| |
|
237,000 |
|
Toro |
|
12,880,950 |
| |
|
|
|
Turf Maintenance Equipment |
|
|
| |
|
264,000 |
|
Kennametal |
|
12,038,400 |
| |
|
|
|
Consumable Cutting Tools |
|
|
| |
|
245,000 |
|
Generac |
|
10,446,800 |
| |
|
|
|
Standby Power Generators |
|
|
| |
|
46,000 |
|
Middleby (a) |
|
9,609,860 |
| |
|
|
|
Manufacturer of Cooking Equipment |
|
|
| |
|
97,000 |
|
Dorman Products |
|
4,806,350 |
| |
|
|
|
Aftermarket Auto Parts Distributor |
|
|
| |
|
65,000 |
|
Polypore International (a)(b) |
|
2,663,050 |
| |
|
|
|
Battery Separators & Filtration Media |
|
|
| |
|
|
|
|
|
256,064,716 |
| |
|
|
|
> Industrial Materials & Specialty Chemicals 2.0% |
|
|
| |
|
539,000 |
|
Drew Industries |
|
24,546,060 |
| |
|
|
|
RV & Manufactured Home Components |
|
|
| |
|
290,000 |
|
Polyone |
|
8,905,900 |
| |
|
|
|
Intermediate Stage Chemicals Producer |
|
|
| |
|
|
|
|
|
33,451,960 |
| |
|
|
|
> Electrical Components 1.5% |
|
|
| |
|
190,000 |
|
Acuity Brands |
|
17,483,800 |
| |
|
|
|
Commercial Lighting Fixtures |
|
|
| |
|
386,000 |
|
Thermon (a) |
|
8,920,460 |
| |
|
|
|
Global Engineered Thermal Solutions |
|
|
| |
|
|
|
|
|
26,404,260 |
| |
|
|
|
> Other Industrial Services 0.9% |
|
|
| |
|
188,000 |
|
Forward Air |
|
7,585,800 |
| |
|
|
|
Freight Transportation Between Airports |
|
|
| |
|
151,000 |
|
KAR Auction Services |
|
4,259,710 |
| |
|
|
|
Auto Auctions |
|
|
| |
|
496,643 |
|
Acorn Energy (b) |
|
2,930,194 |
| |
|
|
|
Fiber Optic Oil Well Monitoring & Evaluation |
|
|
| |
|
10,616 |
|
TrueBlue (a) |
|
254,890 |
| |
|
|
|
Temporary Industrial Labor |
|
|
| |
|
|
|
|
|
15,030,594 |
| |
|
|
|
> Industrial Distribution 0.7% |
|
|
| |
|
90,000 |
|
WESCO International (a) |
|
6,887,700 |
| |
|
|
|
Industrial Distributor |
|
|
| |
|
217,000 |
|
MRC Global (a) |
|
5,815,600 |
| |
|
|
|
Industrial Distributor |
|
|
| |
|
|
|
|
|
12,703,300 |
| |
|
|
|
> Waste Management 0.2% |
|
|
| |
|
82,000 |
|
Waste Connections |
|
3,723,620 |
| |
|
|
|
Solid Waste Management |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Construction 0.2% |
|
|
| |
|
86,000 |
|
Fortune Brands Home & Security |
|
3,580,180 |
| |
|
|
|
Home Building Supplies & Small Locks |
|
|
| |
|
Industrial Goods & Services: Total |
|
350,958,630 |
| |||
|
|
|
|
| |||
|
Consumer Goods & Services 14.8% |
|
|
| |||
|
|
|
> Travel 4.4% |
|
|
| |
|
1,183,950 |
|
Avis Budget Group (a) |
|
34,133,278 |
| |
|
|
|
Second Largest Car Rental Company |
|
|
| |
|
427,000 |
|
Ryman Hospitality Properties (b) |
|
14,735,770 |
| |
|
|
|
Convention Hotels |
|
|
| |
|
614,000 |
|
Hertz (a) |
|
13,606,240 |
| |
|
|
|
Largest U.S. Rental Car Operator |
|
|
| |
|
173,000 |
|
Choice Hotels |
|
7,471,870 |
| |
|
|
|
Franchisor of Budget Hotel Brands |
|
|
| |
|
135,000 |
|
HomeAway (a) |
|
3,780,000 |
| |
|
|
|
Vacation Rental Online Marketplace |
|
|
| |
|
29,000 |
|
Vail Resorts |
|
2,012,020 |
| |
|
|
|
Ski Resort Operator & Developer |
|
|
| |
|
|
|
|
|
75,739,178 |
| |
|
Number of Shares |
|
|
|
Value |
| |
|
|
|
> Retail 2.9% |
|
|
| |
|
805,000 |
|
Pier 1 Imports |
|
$ |
15,713,600 |
|
|
|
|
Home Furnishing Retailer |
|
|
| |
|
224,000 |
|
Shutterfly (a) |
|
12,517,120 |
| |
|
|
|
Internet Photo-centric Retailer |
|
|
| |
|
138,000 |
|
Casey’s General Stores |
|
10,143,000 |
| |
|
|
|
Owner/Operator of Convenience Stores |
|
|
| |
|
145,000 |
|
Abercrombie & Fitch |
|
5,128,650 |
| |
|
|
|
Teen Apparel Retailer |
|
|
| |
|
135,000 |
|
Fifth & Pacific Companies (a) |
|
3,392,550 |
| |
|
|
|
Global Lifestyle Brand |
|
|
| |
|
46,400 |
|
Restoration Hardware Holdings (a) |
|
2,939,440 |
| |
|
|
|
Specialty Home Furnishing Retailer |
|
|
| |
|
|
|
|
|
49,834,360 |
| |
|
|
|
> Furniture & Textiles 2.3% |
|
|
| |
|
333,814 |
|
Caesarstone (Israel) (a) |
|
15,248,624 |
| |
|
|
|
Quartz Countertops |
|
|
| |
|
688,000 |
|
Interface |
|
13,649,920 |
| |
|
|
|
Modular Carpet |
|
|
| |
|
657,000 |
|
Knoll |
|
11,129,580 |
| |
|
|
|
Office Furniture |
|
|
| |
|
|
|
|
|
40,028,124 |
| |
|
|
|
> Consumer Goods Distribution 1.5% |
|
|
| |
|
358,000 |
|
Pool |
|
20,094,540 |
| |
|
|
|
Swimming Pool Supplies & Equipment Distributor |
|
|
| |
|
54,000 |
|
United Natural Foods (a) |
|
3,629,880 |
| |
|
|
|
Natural/Organic Food Distributor |
|
|
| |
|
127,000 |
|
The Chefs’ Warehouse (a) |
|
2,933,700 |
| |
|
|
|
Distributor of Specialty Foods |
|
|
| |
|
|
|
|
|
26,658,120 |
| |
|
|
|
> Other Consumer Services 1.2% |
|
|
| |
|
293,000 |
|
Lifetime Fitness (a) |
|
15,080,710 |
| |
|
|
|
Sport & Fitness Club Operator |
|
|
| |
|
252,000 |
|
Blackhawk Network (a) |
|
6,055,560 |
| |
|
|
|
Third Party Distributer of Prepaid Content, Mostly Gift Cards |
|
|
| |
|
|
|
|
|
21,136,270 |
| |
|
|
|
> Other Durable Goods 1.0% |
|
|
| |
|
187,000 |
|
Cavco Industries (a) |
|
10,649,650 |
| |
|
|
|
Manufactured Homes |
|
|
| |
|
297,000 |
|
Select Comfort (a) |
|
7,231,950 |
| |
|
|
|
Specialty Mattresses |
|
|
| |
|
|
|
|
|
17,881,600 |
| |
|
|
|
> Food & Beverage 0.5% |
|
|
| |
|
269,723 |
|
Boulder Brands (a) |
|
4,326,357 |
| |
|
|
|
Healthy Food Products |
|
|
| |
|
100,000 |
|
B&G Foods |
|
3,455,000 |
| |
|
|
|
Acquirer of Small Food Brands |
|
|
| |
|
|
|
|
|
7,781,357 |
| |
|
|
|
> Nondurables 0.5% |
|
|
| |
|
175,000 |
|
Helen of Troy (a) |
|
7,735,000 |
| |
|
|
|
Personal Care, Housewares, Healthcare & Home Environment Products |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Restaurants 0.2% |
|
|
| |
|
92,000 |
|
Fiesta Restaurant Group (a) |
|
3,464,720 |
| |
|
|
|
Owns/Operates Two Restaurant Chains: Pollo Tropical & Taco Cabana |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Apparel 0.2% |
|
|
| |
|
475,000 |
|
Quiksilver (a) |
|
3,339,250 |
| |
|
|
|
Action Sports Lifestyle Branded Apparel & Footwear |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Educational Services 0.1% |
|
|
| |
|
34,350 |
|
ITT Educational Services (a)(b) |
|
1,064,850 |
| |
|
|
|
Post-secondary Degree Services |
|
|
| |
|
Consumer Goods & Services: Total |
|
254,662,829 |
| |||
|
|
|
|
|
|
| |
|
Finance 12.9% |
|
|
| |||
|
|
|
> Banks 7.1% |
|
|
| |
|
801,000 |
|
MB Financial |
|
22,620,240 |
| |
|
|
|
Chicago Bank |
|
|
| |
|
993,000 |
|
Associated Banc-Corp |
|
15,381,570 |
| |
|
|
|
Midwest Bank |
|
|
| |
|
164,000 |
|
SVB Financial Group (a) |
|
14,164,680 |
| |
|
|
|
Bank to Venture Capitalists |
|
|
| |
|
392,597 |
|
Lakeland Financial |
|
12,818,292 |
| |
|
|
|
Indiana Bank |
|
|
| |
|
173,000 |
|
City National |
|
11,532,180 |
| |
|
|
|
Bank & Asset Manager |
|
|
| |
|
1,615,986 |
|
First Busey |
|
8,419,287 |
| |
|
|
|
Illinois Bank |
|
|
| |
|
228,000 |
|
Hancock Holding |
|
7,154,640 |
| |
|
|
|
Gulf Coast Bank |
|
|
| |
|
487,000 |
|
TCF Financial |
|
6,954,360 |
| |
|
|
|
Great Lakes Bank |
|
|
| |
|
566,750 |
|
Valley National Bancorp (b) |
|
5,639,162 |
| |
|
|
|
New Jersey/New York Bank |
|
|
| |
|
738,000 |
|
First Commonwealth |
|
5,601,420 |
| |
|
|
|
Western Pennsylvania Bank |
|
|
| |
|
695,000 |
|
TrustCo Bank |
|
4,142,200 |
| |
|
|
|
New York State Bank |
|
|
| |
|
171,826 |
|
Sandy Spring Bancorp |
|
3,996,673 |
| |
|
|
|
Baltimore & Washington, D.C. Bank |
|
|
| |
|
154,849 |
|
Guaranty Bancorp |
|
2,119,883 |
| |
|
|
|
Colorado Bank |
|
|
| |
|
89,700 |
|
Hudson Valley |
|
1,684,566 |
| |
|
|
|
Metro New York City Bank |
|
|
| |
|
|
|
|
|
122,229,153 |
| |
|
|
|
> Finance Companies 4.0% |
|
|
| |
|
211,000 |
|
World Acceptance (a)(b) |
|
18,973,120 |
| |
|
|
|
Personal Loans |
|
|
| |
|
673,208 |
|
CAI International (a) |
|
15,665,550 |
| |
|
|
|
International Container Leasing |
|
|
| |
|
389,000 |
|
Textainer Group Holdings (b) |
|
14,731,430 |
| |
|
|
|
Top International Container Leaser |
|
|
| |
|
315,000 |
|
McGrath Rentcorp |
|
11,245,500 |
| |
|
|
|
Temporary Space & IT Rentals |
|
|
| |
|
Number of Shares |
|
|
|
Value |
| |
|
|
|
> Finance Companies—continued |
|
|
| |
|
264,072 |
|
H & E Equipment Services (a) |
|
$ |
7,013,753 |
|
|
|
|
Heavy Equipment Leasing |
|
|
| |
|
91,000 |
|
Marlin Business Services |
|
2,271,360 |
| |
|
|
|
Small Equipment Leasing |
|
|
| |
|
|
|
|
|
69,900,713 |
| |
|
|
|
> Savings & Loans 0.8% |
|
|
| |
|
393,487 |
|
ViewPoint Financial |
|
8,133,376 |
| |
|
|
|
Texas Thrift |
|
|
| |
|
128,000 |
|
Berkshire Hills Bancorp |
|
3,214,080 |
| |
|
|
|
Northeast Thrift |
|
|
| |
|
157,073 |
|
Simplicity Bancorp |
|
2,442,485 |
| |
|
|
|
Los Angeles Savings & Loan |
|
|
| |
|
|
|
|
|
13,789,941 |
| |
|
|
|
> Insurance 0.5% |
|
|
| |
|
35,000 |
|
Enstar Group (a) |
|
4,781,000 |
| |
|
|
|
Insurance/Reinsurance & Related Services |
|
|
| |
|
45,000 |
|
Allied World Holdings |
|
4,472,550 |
| |
|
|
|
Commercial Lines Insurance/Reinsurance |
|
|
| |
|
|
|
|
|
9,253,550 |
| |
|
|
|
> Brokerage & Money Management 0.5% |
|
|
| |
|
139,000 |
|
SEI Investments |
|
4,296,490 |
| |
|
|
|
Mutual Fund Administration & Investment Management |
|
|
| |
|
200,000 |
|
Kennedy-Wilson Holdings |
|
3,712,000 |
| |
|
|
|
Global Distressed Real Estate |
|
|
| |
|
|
|
|
|
8,008,490 |
| |
|
Finance: Total |
|
223,181,847 |
| |||
|
|
|
|
| |||
|
Health Care 11.2% |
|
|
| |||
|
|
|
> Biotechnology & Drug Delivery 6.4% |
|
|
| |
|
604,000 |
|
Seattle Genetics (a) |
|
26,473,320 |
| |
|
|
|
Antibody-based Therapies for Cancer |
|
|
| |
|
321,100 |
|
Synageva Biopharma (a) |
|
20,328,841 |
| |
|
|
|
Biotech Focused on Orphan Diseases |
|
|
| |
|
550,000 |
|
NPS Pharmaceuticals (a) |
|
17,495,500 |
| |
|
|
|
Orphan Drugs & Healthy Royalties |
|
|
| |
|
167,338 |
|
BioMarin Pharmaceutical (a) |
|
12,085,150 |
| |
|
|
|
Biotech Focused on Orphan Diseases |
|
|
| |
|
160,377 |
|
Alnylam Pharmaceuticals (a) |
|
10,265,731 |
| |
|
|
|
Biotech Developing Drugs for Rare Diseases |
|
|
| |
|
476,000 |
|
ARIAD Pharmaceuticals (a) |
|
8,758,400 |
| |
|
|
|
Biotech Focused on Cancer |
|
|
| |
|
151,000 |
|
Sarepta Therapeutics (a)(b) |
|
7,131,730 |
| |
|
|
|
Biotech Focused on Rare Diseases |
|
|
| |
|
364,000 |
|
InterMune (a) |
|
5,594,680 |
| |
|
|
|
Drugs for Pulmonary Fibrosis & Hepatitis C |
|
|
| |
|
250,000 |
|
Coronado Biosciences (a)(b) |
|
1,755,000 |
| |
|
|
|
Development-stage Biotech |
|
|
| |
|
27,318 |
|
Ophthotech (a) |
|
811,618 |
| |
|
|
|
Biotech Focused on Ophthalmic Drugs |
|
|
| |
|
18,181 |
|
CymaBay Therapeutics (a)(c)(d) |
|
3,091 |
| |
|
|
|
Diabetes Drug Development |
|
|
| |
|
|
|
|
|
110,703,061 |
| |
|
|
|
> Medical Supplies 1.8% |
|
|
| |
|
612,600 |
|
Cepheid (a) |
|
23,915,904 |
| |
|
|
|
Molecular Diagnostics |
|
|
| |
|
87,000 |
|
Techne |
|
6,965,220 |
| |
|
|
|
Cytokines, Antibodies & Other Reagents for Life Science |
|
|
| |
|
|
|
|
|
30,881,124 |
| |
|
|
|
> Health Care Services 1.4% |
|
|
| |
|
960,000 |
|
Allscripts Healthcare Solutions (a) |
|
14,275,200 |
| |
|
|
|
Health Care IT |
|
|
| |
|
183,000 |
|
HealthSouth |
|
6,309,840 |
| |
|
|
|
Inpatient Rehabilitation Facilities |
|
|
| |
|
112,000 |
|
Envision Healthcare Holdings (a) |
|
2,915,360 |
| |
|
|
|
Provider of Health Care Outsourcing Services |
|
|
| |
|
|
|
|
|
23,500,400 |
| |
|
|
|
> Pharmaceuticals 0.9% |
|
|
| |
|
742,000 |
|
Akorn (a) |
|
14,602,560 |
| |
|
|
|
Develops, Manufactures & Sells Specialty Generic Drugs |
|
|
| |
|
331,180 |
|
Alimera Sciences (a)(b) |
|
1,245,237 |
| |
|
|
|
Ophthalmology-focused Pharmaceutical Company |
|
|
| |
|
|
|
|
|
15,847,797 |
| |
|
|
|
> Medical Equipment & Devices 0.7% |
|
|
| |
|
183,000 |
|
Sirona Dental Systems (a) |
|
12,248,190 |
| |
|
|
|
Manufacturer of Dental Equipment |
|
|
| |
|
Health Care: Total |
|
193,180,572 |
| |||
|
|
|
|
|
|
| |
|
Other Industries 6.2% |
|
|
| |||
|
|
|
> Real Estate 5.3% |
|
|
| |
|
832,000 |
|
Extra Space Storage |
|
38,064,000 |
| |
|
|
|
Self Storage Facilities |
|
|
| |
|
986,800 |
|
EdR |
|
8,979,880 |
| |
|
|
|
Student Housing |
|
|
| |
|
223,000 |
|
Coresite Realty |
|
7,568,620 |
| |
|
|
|
Data Centers |
|
|
| |
|
1,255,000 |
|
Kite Realty Group |
|
7,442,150 |
| |
|
|
|
Community Shopping Centers |
|
|
| |
|
491,000 |
|
Associated Estates Realty (b) |
|
7,320,810 |
| |
|
|
|
Multifamily Properties |
|
|
| |
|
356,000 |
|
St. Joe (a)(b) |
|
6,984,720 |
| |
|
|
|
Florida Panhandle Landowner |
|
|
| |
|
871,000 |
|
DCT Industrial Trust |
|
6,262,490 |
| |
|
|
|
Industrial Properties |
|
|
| |
|
91,000 |
|
Post Properties |
|
4,096,820 |
| |
|
|
|
Multifamily Properties |
|
|
| |
|
196,200 |
|
Biomed Realty Trust |
|
3,647,358 |
| |
|
|
|
Life Science-focused Office Buildings |
|
|
| |
|
Number of Shares |
|
|
|
Value |
| |
|
|
|
> Real Estate—continued |
|
|
| |
|
90,000 |
|
American Residential Properties (a) |
|
$ |
1,584,900 |
|
|
|
|
Single-family Rental Properties |
|
|
| |
|
|
|
|
|
91,951,748 |
| |
|
|
|
> Transportation 0.9% |
|
|
| |
|
468,091 |
|
Rush Enterprises, Class A (a) |
|
12,409,092 |
| |
|
105,000 |
|
Rush Enterprises, Class B (a) |
|
2,390,850 |
| |
|
|
|
Truck Sales & Service |
|
|
| |
|
|
|
|
|
14,799,942 |
| |
|
Other Industries: Total |
|
106,751,690 |
| |||
|
|
|
|
| |||
|
Energy & Minerals 5.8% |
|
|
| |||
|
|
|
> Oil Services 2.6% |
|
|
| |
|
464,000 |
|
Atwood Oceanics (a) |
|
25,538,560 |
| |
|
|
|
Offshore Drilling Contractor |
|
|
| |
|
182,000 |
|
Hornbeck Offshore (a) |
|
10,454,080 |
| |
|
|
|
Supply Vessel Operator in U.S. Gulf of Mexico |
|
|
| |
|
153,000 |
|
Gulfmark Offshore |
|
7,786,170 |
| |
|
|
|
Operator of Offshore Supply Vessels |
|
|
| |
|
|
|
|
|
43,778,810 |
| |
|
|
|
> Oil & Gas Producers 2.5% |
|
|
| |
|
166,000 |
|
PDC Energy (a) |
|
9,883,640 |
| |
|
|
|
Oil & Gas Producer in U.S. |
|
|
| |
|
180,000 |
|
Rosetta Resources (a) |
|
9,802,800 |
| |
|
|
|
Oil & Gas Producer Exploring in Texas |
|
|
| |
|
116,000 |
|
SM Energy |
|
8,954,040 |
| |
|
|
|
Oil & Gas Producer |
|
|
| |
|
159,000 |
|
Laredo Petroleum (a) |
|
4,719,120 |
| |
|
|
|
Permian Basin Oil Producer |
|
|
| |
|
158,000 |
|
Approach Resources (a) |
|
4,152,240 |
| |
|
|
|
Oil & Gas Producer in West Texas Permian |
|
|
| |
|
130,832 |
|
Bill Barrett Corporation (a)(b) |
|
3,285,191 |
| |
|
|
|
Oil & Gas Producer in U.S. Rockies |
|
|
| |
|
41,576 |
|
Carrizo Oil & Gas (a) |
|
1,551,201 |
| |
|
|
|
Oil & Gas Producer |
|
|
| |
|
464,000 |
|
Quicksilver Resources (a)(b) |
|
914,080 |
| |
|
|
|
Natural Gas & Coal Seam Gas Producer |
|
|
| |
|
19,548 |
|
Matador Resources (a) |
|
319,219 |
| |
|
|
|
Oil & Gas Producer in Texas & Louisiana |
|
|
| |
|
|
|
|
|
43,581,531 |
| |
|
|
|
> Mining 0.7% |
|
|
| |
|
70,000 |
|
Core Labs (Netherlands) |
|
11,844,700 |
| |
|
|
|
Oil & Gas Reservoir Consulting |
|
|
| |
|
546,000 |
|
Alexco Resource (a)(b) |
|
780,780 |
| |
|
|
|
Mining, Exploration & Environmental Services |
|
|
| |
|
|
|
|
|
12,625,480 |
| |
|
Energy & Minerals: Total |
|
99,985,821 |
| |||
|
|
|
|
|
|
| |
|
Total Equities: 99.5% (Cost: $938,460,570) |
|
1,717,382,632 |
(e)(f) | |||
|
|
|
|
|
|
| |
|
Short-Term Investments 0.7% |
|
|
| |||
|
12,638,003 |
|
JPMorgan U.S. Government Money Market Fund, Agency Shares (7 day yield of 0.01%) |
|
12,638,003 |
| |
|
Total Short-Term Investments: 0.7% (Cost: $12,638,003) |
|
12,638,003 |
| |||
|
|
|
|
|
|
| |
|
Securities Lending Collateral 3.1% |
|
|
| |||
|
54,163,158 |
|
Dreyfus Government Cash Management Fund, Institutional Shares (7 day yield of 0.01%) (g) |
|
54,163,158 |
| |
|
Total Securities Lending Collateral: (Cost: $54,163,158) |
|
54,163,158 |
| |||
|
|
|
|
| |||
|
Total Investments: 103.3% (Cost: $1,005,261,731)(h) |
|
1,784,183,793 |
(i) | |||
|
|
|
|
| |||
|
Obligation to Return Collateral for Securities Loaned: (3.1)% |
|
(54,163,158 |
) | |||
|
|
|
|
| |||
|
Cash and Other Assets Less Liabilities: (0.2)% |
|
(3,204,264 |
) | |||
|
|
|
|
| |||
|
Net Assets: 100.0% |
|
$ |
1,726,816,371 |
| ||
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 September 30, 2013. The total market value of securities on loan at September 30, 2013 was $52,758,000.
(c) Illiquid security.
> Notes to Statement of Investments
(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 September 30, 2013, the market value of this security amounted to $3,091, which represented less than 0.01% of total net assets. Additional information on this security is as follows:
|
Security |
|
Acquisition |
|
Shares/Units |
|
Cost |
|
Value |
| ||
|
CymaBay Therapeutics |
|
2/11/00 |
|
18,181 |
|
$ |
1,999,910 |
|
$ |
3,091 |
|
(e) An affiliated person of the Fund, as defined in the Investment Company Act of 1940, 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 September 30, 2013, are as follows:
|
Security |
|
Balance of |
|
Purchases/ |
|
Sales/ |
|
Balance of |
|
Value |
|
Dividend |
| ||
|
RCM Technologies (1) |
|
640,000 |
|
— |
|
58,000 |
|
582,000 |
|
$ |
3,509,460 |
|
$ |
— |
|
(1) At September 30, 2013, the Fund owned less than five percent of the company’s outstanding voting shares.
(f) On September 30, 2013, the market value of foreign securities represented 1.97% of total net assets. The Fund’s foreign portfolio was diversified as follows:
|
Country |
|
Value |
|
Percentage |
| |
|
Israel |
|
$ |
15,248,624 |
|
0.88 |
|
|
Netherlands |
|
11,844,700 |
|
0.69 |
| |
|
India |
|
6,938,940 |
|
0.40 |
| |
|
Total Foreign Portfolio |
|
$ |
34,032,264 |
|
1.97 |
|
(g) Investment made with cash collateral received from securities lending activity.
(h) At September 30, 2013, for federal income tax purposes, the cost of investments was $1,005,261,731 and net unrealized appreciation was $778,922,062 consisting of gross unrealized appreciation of $801,292,045 and gross unrealized depreciation of $22,369,983.
(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 Fund’s 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 management’s 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 Fund’s 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 Trust’s 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
> Notes to Statement of Investments
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 September 30, 2013, in valuing the Fund’s assets:
|
Investment Type |
|
Quoted Prices |
|
Other |
|
Significant |
|
Total |
| ||||
|
Equities |
|
|
|
|
|
|
|
|
| ||||
|
Information |
|
$ |
488,661,243 |
|
$ |
— |
|
$ |
— |
|
$ |
488,661,243 |
|
|
Industrial Goods & Services |
|
350,958,630 |
|
— |
|
— |
|
350,958,630 |
| ||||
|
Consumer Goods & Services |
|
254,662,829 |
|
— |
|
— |
|
254,662,829 |
| ||||
|
Finance |
|
223,181,847 |
|
— |
|
— |
|
223,181,847 |
| ||||
|
Health Care |
|
193,177,481 |
|
— |
|
3,091 |
|
193,180,572 |
| ||||
|
Other Industries |
|
106,751,690 |
|
— |
|
— |
|
106,751,690 |
| ||||
|
Energy & Minerals |
|
99,985,821 |
|
— |
|
— |
|
99,985,821 |
| ||||
|
Total Equities |
|
1,717,379,541 |
|
— |
|
3,091 |
|
1,717,382,632 |
| ||||
|
Total Short-Term Investments |
|
12,638,003 |
|
— |
|
— |
|
12,638,003 |
| ||||
|
Total Securities Lending Collateral |
|
54,163,158 |
|
— |
|
— |
|
54,163,158 |
| ||||
|
Total Investments |
|
$ |
1,784,180,702 |
|
$ |
— |
|
$ |
3,091 |
|
$ |
1,784,183,793 |
|
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 company’s 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), September 30, 2013
|
Number of Shares |
|
|
|
Value |
| |
|
Equities: 96.3% |
|
|
| |||
|
Asia 48.4% |
|
|
| |||
|
|
|
> Japan 21.1% |
|
|
| |
|
759,000 |
|
NGK Spark Plug |
|
$ |
16,845,240 |
|
|
|
|
Automobile Parts |
|
|
| |
|
375,000 |
|
Start Today |
|
10,592,491 |
| |
|
|
|
Online Japanese Apparel Retailer |
|
|
| |
|
122,000 |
|
Rinnai |
|
9,066,303 |
| |
|
|
|
Gas Appliances for Household & Commercial Use |
|
|
| |
|
2,535,000 |
|
Seven Bank |
|
8,491,957 |
| |
|
|
|
ATM Processing Services |
|
|
| |
|
164,000 |
|
Dentsu |
|
6,256,161 |
| |
|
|
|
Advertising Agency |
|
|
| |
|
600 |
|
Nippon Prologis REIT (a) |
|
6,012,414 |
| |
|
|
|
Logistics REIT in Japan |
|
|
| |
|
154,800 |
|
Toyo Suisan Kaisha |
|
4,545,065 |
| |
|
|
|
Instant Noodle Manufacturer |
|
|
| |
|
414,000 |
|
Wacom |
|
3,982,453 |
| |
|
|
|
Computer Graphic Illustration Devices |
|
|
| |
|
3,125 |
|
Orix JREIT |
|
3,970,247 |
| |
|
|
|
Diversified REIT |
|
|
| |
|
91,000 |
|
FamilyMart |
|
3,941,531 |
| |
|
|
|
Convenience Store Operator |
|
|
| |
|
206,000 |
|
Park24 |
|
3,665,715 |
| |
|
|
|
Parking Lot Operator |
|
|
| |
|
|
|
|
|
77,369,577 |
| |
|
|
|
> Taiwan 9.4% |
|
|
| |
|
9,640,000 |
|
Far EasTone Telecom |
|
24,017,846 |
| |
|
|
|
Taiwan’s Third Largest Mobile Operator |
|
|
| |
|
2,950,000 |
|
Taiwan Mobile |
|
10,463,401 |
| |
|
|
|
Taiwan’s Second Largest Mobile Operator |
|
|
| |
|
|
|
|
|
34,481,247 |
| |
|
|
|
> Singapore 9.0% |
|
|
| |
|
9,514,000 |
|
Ascendas REIT |
|
17,310,634 |
| |
|
|
|
Industrial Property Landlord |
|
|
| |
|
10,847,000 |
|
Mapletree Logistics Trust |
|
9,259,917 |
| |
|
|
|
Industrial Property Landlord |
|
|
| |
|
5,869,000 |
|
Mapletree Industrial Trust |
|
6,313,127 |
| |
|
|
|
Industrial Property Landlord |
|
|
| |
|
|
|
|
|
32,883,678 |
| |
|
|
|
> Korea 4.1% |
|
|
| |
|
142,919 |
|
Kepco Plant Service & Engineering |
|
7,229,391 |
| |
|
|
|
Power Plant & Grid Maintenance |
|
|
| |
|
38,000 |
|
CJ Corp |
|
4,103,277 |
| |
|
|
|
Holding Company of Korean Consumer Conglomerate |
|
|
| |
|
66,800 |
|
Coway |
|
3,704,167 |
| |
|
|
|
Household Appliance Rental Service Provider |
|
|
| |
|
|
|
|
|
15,036,835 |
| |
|
|
|
> Indonesia 3.0% |
|
|
| |
|
11,903,000 |
|
Archipelago Resources (a)(b)(c)(d) |
|
10,902,089 |
| |
|
|
|
Gold Mining Projects in Indonesia, Vietnam & the Philippines |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Hong Kong 1.8% |
|
|
| |
|
2,391,000 |
|
Melco International |
|
6,425,947 |
| |
|
|
|
Macau Casino Operator |
|
|
| |
|
Asia: Total |
|
177,099,373 |
| |||
|
|
|
|
|
|
| |
|
Europe 22.6% |
|
|
| |||
|
|
|
> United Kingdom 9.4% |
|
|
| |
|
900,000 |
|
Jardine Lloyd Thompson Group |
|
13,768,753 |
| |
|
|
|
International Business Insurance Broker |
|
|
| |
|
416,504 |
|
Babcock International |
|
8,064,374 |
| |
|
|
|
Public Sector Outsourcer |
|
|
| |
|
439,000 |
|
Smith & Nephew |
|
5,479,478 |
| |
|
|
|
Medical Equipment & Supplies |
|
|
| |
|
270,000 |
|
Telecity |
|
3,627,957 |
| |
|
|
|
European Data Center Provider |
|
|
| |
|
70,000 |
|
Whitbread |
|
3,358,896 |
| |
|
|
|
The UK’s Leading Hotelier & Coffee Shop |
|
|
| |
|
|
|
|
|
34,299,458 |
| |
|
|
|
> Denmark 3.3% |
|
|
| |
|
131,474 |
|
SimCorp |
|
4,423,723 |
| |
|
|
|
Software for Investment Managers |
|
|
| |
|
109,000 |
|
Novozymes |
|
4,169,723 |
| |
|
|
|
Industrial Enzymes |
|
|
| |
|
73,000 |
|
Jyske Bank (e) |
|
3,625,437 |
| |
|
|
|
Danish Bank |
|
|
| |
|
|
|
|
|
12,218,883 |
| |
|
|
|
> France 3.1% |
|
|
| |
|
153,000 |
|
Neopost (a) |
|
11,142,063 |
| |
|
|
|
Postage Meter Machines |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Switzerland 2.0% |
|
|
| |
|
30,500 |
|
Partners Group |
|
7,477,028 |
| |
|
|
|
Private Markets Asset Management |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Norway 1.8% |
|
|
| |
|
171,000 |
|
Subsea 7 |
|
3,554,650 |
| |
|
|
|
Offshore Subsea Contractor |
|
|
| |
|
433,032 |
|
Orkla |
|
3,154,168 |
| |
|
|
|
Food & Brands, Aluminum, Chemicals Conglomerate |
|
|
| |
|
|
|
|
|
6,708,818 |
| |
|
|
|
> Spain 1.0% |
|
|
| |
|
66,000 |
|
Viscofan |
|
3,774,209 |
| |
|
|
|
Sausage Casings Maker |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Germany 1.0% |
|
|
| |
|
107,400 |
|
Wirecard |
|
3,673,813 |
| |
|
|
|
Online Payment Processing & Risk Management |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Sweden 1.0% |
|
|
| |
|
115,000 |
|
Hexagon |
|
3,467,876 |
| |
|
|
|
Design, Measurement & Visualization Software & Equipment |
|
|
| |
|
Europe: Total |
|
82,762,148 |
| |||
|
Number of Shares |
|
|
|
Value |
| |
|
Other Countries 18.1% |
|
|
| |||
|
|
|
> Australia 7.1% |
|
|
| |
|
1,976,000 |
|
IAG |
|
$ |
10,832,133 |
|
|
|
|
General Insurance Provider |
|
|
| |
|
1,674,000 |
|
Challenger Financial |
|
8,597,253 |
| |
|
|
|
Largest Annuity Provider |
|
|
| |
|
1,700,000 |
|
Regis Resources (e) |
|
6,433,704 |
| |
|
|
|
Gold Mining in Australia |
|
|
| |
|
|
|
|
|
25,863,090 |
| |
|
|
|
> Canada 5.6% |
|
|
| |
|
202,000 |
|
CCL Industries |
|
13,399,990 |
| |
|
|
|
Largest Global Label Converter |
|
|
| |
|
271,000 |
|
Goldcorp |
|
7,048,710 |
| |
|
|
|
Gold Mining |
|
|
| |
|
|
|
|
|
20,448,700 |
| |
|
|
|
> South Africa 2.8% |
|
|
| |
|
846,448 |
|
Coronation Fund Managers |
|
5,783,356 |
| |
|
|
|
South African Fund Manager |
|
|
| |
|
50,000 |
|
Naspers |
|
4,623,590 |
| |
|
|
|
Media in Africa, China, Russia & Other Emerging Markets |
|
|
| |
|
|
|
|
|
10,406,946 |
| |
|
|
|
> United States 2.6% |
|
|
| |
|
66,000 |
|
SM Energy |
|
5,094,540 |
| |
|
|
|
Oil & Gas Producer |
|
|
| |
|
82,000 |
|
Atwood Oceanics (e) |
|
4,513,280 |
| |
|
|
|
Offshore Drilling Contractor |
|
|
| |
|
|
|
|
|
9,607,820 |
| |
|
Other Countries: Total |
|
66,326,556 |
| |||
|
|
|
|
| |||
|
Latin America 7.2% |
|
|
| |||
|
|
|
> Guatemala 2.9% |
|
|
| |
|
588,000 |
|
Tahoe Resources (e) |
|
10,583,486 |
| |
|
|
|
Silver Project in Guatemala |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Brazil 2.7% |
|
|
| |
|
11,561,000 |
|
Beadell Resources (e) |
|
10,020,606 |
| |
|
|
|
Gold Mining in Brazil |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Mexico 1.0% |
|
|
| |
|
243,000 |
|
Fresnillo |
|
3,827,713 |
| |
|
|
|
Silver & Metal Byproduct Mining in Mexico |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Uruguay 0.6% |
|
|
| |
|
191,666 |
|
Union Agriculture Group (b)(c)(e) |
|
2,054,660 |
| |
|
|
|
Farmland Operator in Uruguay |
|
|
| |
|
Latin America: Total |
|
26,486,465 |
| |||
|
|
|
|
| |||
|
Total Equities: 96.3% |
|
352,674,542 |
(f) | |||
|
|
|
|
|
|
| |
|
Short-Term Investments 6.0% |
|
|
| |||
|
11,075,902 |
|
JPMorgan U.S. Government Money Market Fund, Capital Shares (7 day yield of 0.01%) |
|
11,075,902 |
| |
|
10,858,531 |
|
JPMorgan U.S. Government Money Market Fund, Agency Shares (7 day yield of 0.01%) |
|
10,858,531 |
| |
|
Total Short-Term Investments: 6.0% |
|
21,934,433 |
| |||
|
|
|
|
|
|
| |
|
Securities Lending Collateral 1.6% |
|
|
| |||
|
6,025,639 |
|
Dreyfus Government Cash Management Fund, Institutional Shares (7 day yield of 0.01%) (g) |
|
6,025,639 |
| |
|
Total Securities Lending Collateral: |
|
6,025,639 |
| |||
|
|
|
|
| |||
|
Total Investments: 103.9% |
|
380,634,614 |
(i) | |||
|
|
|
|
|
|
| |
|
Obligation to Return Collateral for Securities Loaned: (1.6)% |
|
(6,025,639 |
) | |||
|
|
|
|
| |||
|
Cash and Other Assets Less Liabilities: (2.3)% |
|
(8,345,276 |
) | |||
|
|
|
|
| |||
|
Net Assets: 100.0% |
|
$ |
366,263,699 |
| ||
REIT - Real Estate Investment Trust
> Notes to Statement of Investments
(a) All or a portion of this security was on loan at September 30, 2013. The total market value of securities on loan at September 30, 2013 was $5,729,059.
(b) 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 September 30, 2013, the market value of these securities amounted to $12,956,749, which represented 3.54% of total net assets. Additional information on these securities is as follows:
|
Security |
|
Acquisition |
|
Shares/Units |
|
Cost |
|
Value |
| ||
|
Archipelago Resources |
|
12/20/10-9/26/13 |
|
11,903,000 |
|
$ |
12,066,977 |
|
$ |
10,902,089 |
|
|
Union Agriculture Group |
|
12/8/10-6/27/12 |
|
191,666 |
|
2,200,000 |
|
2,054,660 |
| ||
|
|
|
|
|
|
|
$ |
14,266,977 |
|
$ |
12,956,749 |
|
> Notes to Statement of Investments
(c) Illiquid security.
(d) Units represent shares of security and related put options received through company restructuring. Additional information on the purchased options received is as follows:
|
Security |
|
Option Shares |
|
Exercise Price |
|
Expiration Date (1) |
| |
|
Archipelago Resources |
|
11,903,000 |
|
GBP |
0.58 |
|
October 31, 2014 |
|
GBP - British Pound
(1) Archipelago Resources is expected to restructure into a new company during 2014. From January 31, 2014, the option is exercisable until the earlier of (i) the date the company is restructured and prices the shares for its initial public offering or (ii) August 13, 2014, subject to extension until the date the company is restructured and prices the shares for its initial public offering (but not later than September 26, 2016). After August 13, 2014, the valuation of the option will fluctuate based upon its fair market value as determined in accordance with the put option agreement.
(e) Non-income producing security.
(f) On September 30, 2013, the Fund’s total investments were denominated in currencies as follows:
|
Currency |
|
Value |
|
Percentage |
| |
|
Japanese Yen |
|
$ |
77,369,577 |
|
21.1 |
|
|
British Pound |
|
49,029,260 |
|
13.4 |
| |
|
Australian Dollar |
|
35,883,696 |
|
9.8 |
| |
|
Taiwan Dollar |
|
34,481,247 |
|
9.4 |
| |
|
Singapore Dollar |
|
32,883,678 |
|
9.0 |
| |
|
Canadian Dollar |
|
23,983,477 |
|
6.5 |
| |
|
United States Dollar |
|
18,711,189 |
|
5.1 |
| |
|
Euro |
|
18,590,085 |
|
5.1 |
| |
|
Other currencies less than 5% of total net assets |
|
61,742,333 |
|
16.9 |
| |
|
Total Equities |
|
$ |
352,674,542 |
|
96.3 |
|
(g) Investment made with cash collateral received from securities lending activity.
(h) At September 30, 2013, for federal income tax purposes, the cost of investments was $308,952,025 and net unrealized appreciation was $71,682,589 consisting of gross unrealized appreciation of $77,883,776 and gross unrealized depreciation of $6,201,187.
(i) Securities are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.
At September 30, 2013, the Fund had entered into the following forward foreign currency exchange contracts:
|
Forward Foreign |
|
Forward Foreign |
|
Principal Amount |
|
Principal Amount |
|
Settlement |
|
Unrealized |
| ||
|
USD |
|
ZAR |
|
90,012,600 |
|
$ |
9,000,000 |
|
10/15/13 |
|
$ |
53,102 |
|
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 Fund’s 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 management’s 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 Fund’s 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.
> Notes to Statement of Investments
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 Trust’s 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 September 30, 2013, in valuing the Fund’s assets:
|
Investment Type |
|
Quoted Prices |
|
Other |
|
Significant |
|
Total |
| ||||
|
Equities |
|
|
|
|
|
|
|
|
| ||||
|
Asia |
|
$ |
— |
|
$ |
166,197,284 |
|
$ |
10,902,089 |
|
$ |
177,099,373 |
|
|
Europe |
|
— |
|
82,762,148 |
|
— |
|
82,762,148 |
| ||||
|
Other Countries |
|
30,056,520 |
|
36,270,036 |
|
— |
|
66,326,556 |
| ||||
|
Latin America |
|
10,583,486 |
|
13,848,319 |
|
2,054,660 |
|
26,486,465 |
| ||||
|
Total Equities |
|
40,640,006 |
|
299,077,787 |
|
12,956,749 |
|
352,674,542 |
| ||||
|
Total Short-Term Investments |
|
21,934,433 |
|
— |
|
— |
|
21,934,433 |
| ||||
|
Total Securities Lending Collateral |
|
6,025,639 |
|
— |
|
— |
|
6,025,639 |
| ||||
|
Total Investments |
|
$ |
68,600,078 |
|
$ |
299,077,787 |
|
$ |
12,956,749 |
|
$ |
380,634,614 |
|
|
Unrealized Appreciation on Forward Foreign Currency Exchange Contracts |
|
— |
|
53,102 |
|
— |
|
53,102 |
| ||||
|
Total |
|
$ |
68,600,078 |
|
$ |
299,130,889 |
|
$ |
12,956,749 |
|
$ |
380,687,716 |
|
The Fund’s assets assigned to the Level 2 input category are generally valued using a market approach, in which a security’s 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.
There were no transfers of financial assets between levels 1 and 2 during the period.
The following table reconciles asset balances for the period ending September 30, 2013, in which significant observable and/or unobservable inputs (Level 3) were used in determining value:
|
Investments in Securities |
|
Balance as |
|
Realized |
|
Change |
|
Purchases |
|
Sales |
|
Transfers |
|
Transfers |
|
Balance as |
| ||||||||
|
Equities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
|
Asia |
|
$ |
— |
|
$ |
— |
|
$ |
(693,511 |
) |
$ |
741,091 |
|
$ |
— |
|
$ |
10,854,509 |
|
$ |
— |
|
$ |
10,902,089 |
|
|
Latin America |
|
1,962,660 |
|
— |
|
92,000 |
|
— |
|
— |
|
— |
|
— |
|
2,054,660 |
| ||||||||
|
|
|
$ |
1,962,660 |
|
$ |
— |
|
$ |
(601,511 |
) |
$ |
741,091 |
|
$ |
— |
|
$ |
10,854,509 |
|
$ |
— |
|
$ |
12,956,749 |
|
The information in the above reconciliation table represents fiscal year to date activity for any securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period.
The change in unrealized depreciation attributed to securities owned at September 30, 2013, which were valued using significant unobservable inputs (Level 3), amounted to $601,511.
> Notes to Statement of Investments
Quantitative information pertaining to Level 3 unobservable fair value measurements
|
|
|
Fair Value at |
|
Valuation Technique(s) |
|
Unobservable Input(s) |
|
Range (Weighted |
| |
|
Equities |
|
$ |
10,902,089 |
|
Discounted cash flow |
|
Enterprise valuation and illiquid discount |
|
5% - 22.7% |
|
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 company’s 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), September 30, 2013
|
Number of Shares |
|
|
|
Value |
| |
|
Equities: 98.1% |
|
|
| |||
|
Industrial Goods & Services 24.7% |
|
|
| |||
|
|
|
> Machinery 18.5% |
|
|
| |
|
1,130,000 |
|
Ametek |
|
$ |
52,002,600 |
|
|
|
|
Aerospace/Industrial Instruments |
|
|
| |
|
920,000 |
|
Donaldson |
|
35,079,600 |
| |
|
|
|
Industrial Air Filtration |
|
|
| |
|
375,000 |
|
Pall |
|
28,890,000 |
| |
|
|
|
Life Science, Water & Industrial Filtration |
|
|
| |
|
587,000 |
|
Kennametal |
|
26,767,200 |
| |
|
|
|
Consumable Cutting Tools |
|
|
| |
|
288,000 |
|
Nordson |
|
21,205,440 |
| |
|
|
|
Dispensing Systems for Adhesives & Coatings |
|
|
| |
|
|
|
|
|
163,944,840 |
| |
|
|
|
> Outsourcing Services 2.5% |
|
|
| |
|
790,000 |
|
Quanta Services (a) |
|
21,732,900 |
| |
|
|
|
Electrical & Telecom Construction Services |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Industrial Materials & Specialty Chemicals 2.1% |
|
|
| |
|
265,000 |
|
FMC Corporation |
|
19,005,800 |
| |
|
|
|
Niche Specialty Chemicals |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Industrial Distribution 1.1% |
|
|
| |
|
94,064 |
|
Airgas |
|
9,975,487 |
| |
|
|
|
Industrial Gas Distributor |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Other Industrial Services 0.5% |
|
|
| |
|
107,000 |
|
Forward Air |
|
4,317,450 |
| |
|
|
|
Freight Transportation Between Airports |
|
|
| |
|
Industrial Goods & Services: Total |
|
218,976,477 |
| |||
|
|
|
|
|
|
| |
|
Information 23.9% |
|
|
| |||
|
|
|
> Mobile Communications 5.4% |
|
|
| |
|
350,000 |
|
SBA Communications (a) |
|
28,161,000 |
| |
|
|
|
Communications Towers |
|
|
| |
|
265,000 |
|
Crown Castle International (a) |
|
19,352,950 |
| |
|
|
|
Communications Towers |
|
|
| |
|
|
|
|
|
47,513,950 |
| |
|
|
|
> Computer Services 4.9% |
|
|
| |
|
2,055,960 |
|
WNS - ADR (India) (a) |
|
43,627,471 |
| |
|
|
|
Offshore Business Process Outsourcing Services |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Instrumentation 4.5% |
|
|
| |
|
107,000 |
|
Mettler-Toledo International (a) |
|
25,689,630 |
| |
|
|
|
Laboratory Equipment |
|
|
| |
|
490,000 |
|
Trimble Navigation (a) |
|
14,557,900 |
| |
|
|
|
GPS-based Instruments |
|
|
| |
|
|
|
|
|
40,247,530 |
| |
|
|
|
> Computer Hardware & Related Equipment 3.9% |
|
|
| |
|
445,000 |
|
Amphenol |
|
34,434,100 |
| |
|
|
|
Electronic Connectors |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Telecommunications Equipment 1.9% |
|
|
| |
|
195,000 |
|
F5 Networks (a) |
|
16,723,200 |
| |
|
|
|
Internet Traffic Management Equipment |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Contract Manufacturing 1.5% |
|
|
| |
|
740,000 |
|
Sanmina-SCI (a) |
|
12,942,600 |
| |
|
|
|
Electronic Manufacturing Services |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Business Software 1.3% |
|
|
| |
|
138,000 |
|
Ansys (a) |
|
11,939,760 |
| |
|
|
|
Simulation Software for Engineers & Designers |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Semiconductors & Related Equipment 0.5% |
|
|
| |
|
575,000 |
|
Atmel (a) |
|
4,278,000 |
| |
|
|
|
Microcontrollers, Radio Frequency & Memory Semiconductors |
|
|
| |
|
Information: Total |
|
211,706,611 |
| |||
|
|
|
|
|
|
| |
|
Finance 16.4% |
|
|
| |||
|
|
|
> Banks 5.2% |
|
|
| |
|
445,000 |
|
City National |
|
29,663,700 |
| |
|
|
|
Bank & Asset Manager |
|
|
| |
|
1,043,000 |
|
Associated Banc-Corp |
|
16,156,070 |
| |
|
|
|
Midwest Bank |
|
|
| |
|
|
|
|
|
45,819,770 |
| |
|
|
|
> Insurance 4.8% |
|
|
| |
|
2,970,000 |
|
CNO Financial Group |
|
42,768,000 |
| |
|
|
|
Life, Long-term Care & Medical Supplement Insurance |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Credit Cards 3.9% |
|
|
| |
|
678,000 |
|
Discover Financial Services |
|
34,266,120 |
| |
|
|
|
Credit Card Company |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Brokerage & Money Management 2.5% |
|
|
| |
|
725,000 |
|
SEI Investments |
|
22,409,750 |
| |
|
|
|
Mutual Fund Administration & Investment Management |
|
|
| |
|
Finance: Total |
|
145,263,640 |
| |||
|
|
|
|
| |||
|
Consumer Goods & Services 16.1% |
|
|
| |||
|
|
|
> Travel 7.1% |
|
|
| |
|
1,643,000 |
|
Hertz (a) |
|
36,408,880 |
| |
|
|
|
Largest U.S. Rental Car Operator |
|
|
| |
|
238,000 |
|
Vail Resorts |
|
16,512,440 |
| |
|
|
|
Ski Resort Operator & Developer |
|
|
| |
|
220,000 |
|
Choice Hotels |
|
9,501,800 |
| |
|
|
|
Franchisor of Budget Hotel Brands |
|
|
| |
|
|
|
|
|
62,423,120 |
| |
|
Number of Shares |
|
|
|
Value |
| |
|
|
|
> Retail 4.0% |
|
|
| |
|
129,000 |
|
ULTA (a) |
|
$ |
15,410,340 |
|
|
|
|
Specialty Beauty Product Retailer |
|
|
| |
|
164,000 |
|
Casey’s General Stores |
|
12,054,000 |
| |
|
|
|
Owner/Operator of Convenience Stores |
|
|
| |
|
215,000 |
|
Best Buy |
|
8,062,500 |
| |
|
|
|
Consumer Electronic Specialty Retailer |
|
|
| |
|
|
|
|
|
35,526,840 |
| |
|
|
|
> Other Consumer Services 3.0% |
|
|
| |
|
275,000 |
|
Lifetime Fitness (a) |
|
14,154,250 |
| |
|
|
|
Sport & Fitness Club Operator |
|
|
| |
|
435,000 |
|
Blackhawk Network (a) |
|
10,453,050 |
| |
|
|
|
Third Party Distributer of Prepaid Content, Mostly Gift Cards |
|
|
| |
|
1,109,335 |
|
IFM Investments (Century 21 China RE) - ADR (China) (a)(b) |
|
1,996,803 |
| |
|
|
|
Real Estate Services in China |
|
|
| |
|
|
|
|
|
26,604,103 |
| |
|
|
|
> Apparel 1.2% |
|
|
| |
|
89,000 |
|
PVH |
|
10,563,410 |
| |
|
|
|
Apparel Wholesaler & Retailer |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Educational Services 0.7% |
|
|
| |
|
198,000 |
|
ITT Educational Services (a)(c) |
|
6,138,000 |
| |
|
|
|
Post-secondary Degree Services |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Food & Beverage 0.1% |
|
|
| |
|
1,500,000 |
|
GLG Life Tech (Canada) (a) |
|
1,223,242 |
| |
|
|
|
Produce an All-natural Sweetener Extracted from the Stevia Plant |
|
|
| |
|
Consumer Goods & Services: Total |
|
142,478,715 |
| |||
|
|
|
|
| |||
|
Energy & Minerals 8.6% |
|
|
| |||
|
|
|
> Oil & Gas Producers 4.6% |
|
|
| |
|
3,600,000 |
|
Canacol (Colombia) (a) |
|
15,412,844 |
| |
|
|
|
Oil Producer in South America |
|
|
| |
|
410,000 |
|
Pacific Rubiales Energy (Colombia) |
|
8,096,112 |
| |
|
|
|
Oil Production & Exploration in Colombia |
|
|
| |
|
20,600,000 |
|
Shamaran Petroleum (Iraq) (a) |
|
7,699,626 |
| |
|
|
|
Oil Exploration & Production in Kurdistan |
|
|
| |
|
24,000,000 |
|
Canadian Overseas Petroleum (United Kingdom) (a)(b)(d) |
|
6,972,477 |
| |
|
12,000,000 |
|
Canadian Overseas Petroleum - Warrants (United Kingdom) (a)(d)(e) |
|
11,965 |
| |
|
|
|
Oil & Gas Exploration/Production in the North Sea |
|
|
| |
|
12,000,000 |
|
Petromanas (Canada) (a) |
|
1,572,739 |
| |
|
|
|
Exploring for Oil in Albania |
|
|
| |
|
33,700,000 |
|
Petrodorado Energy (Colombia) (a)(b) |
|
1,308,674 |
| |
|
|
|
Oil & Gas Exploration & Production in Colombia, Peru & Paraguay |
|
|
| |
|
|
|
|
|
41,074,437 |
| |
|
|
|
> Agricultural Commodities 2.1% |
|
|
| |
|
1,742,424 |
|
Union Agriculture Group (Uruguay) (a)(d)(e) |
|
18,678,786 |
| |
|
|
|
Farmland Operator in Uruguay |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Oil Services 1.1% |
|
|
| |
|
260,000 |
|
Rowan (a) |
|
9,547,200 |
| |
|
|
|
Contract Offshore Driller |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Mining 0.6% |
|
|
| |
|
1,550,000 |
|
Kirkland Lake Gold (Canada) (a) |
|
5,221,591 |
| |
|
|
|
Gold Mining |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Alternative Energy 0.2% |
|
|
| |
|
2,000,000 |
|
Synthesis Energy Systems (China) (a) |
|
1,484,000 |
| |
|
|
|
Owner/Operator of Gasification Plants |
|
|
| |
|
Energy & Minerals: Total |
|
76,006,014 |
| |||
|
|
|
|
|
|
| |
|
Health Care 5.7% |
|
|
| |||
|
|
|
> Medical Supplies 3.9% |
|
|
| |
|
464,000 |
|
Cepheid (a) |
|
18,114,560 |
| |
|
|
|
Molecular Diagnostics |
|
|
| |
|
163,000 |
|
Henry Schein (a) |
|
16,903,100 |
| |
|
|
|
Largest Distributor of Healthcare Products |
|
|
| |
|
|
|
|
|
35,017,660 |
| |
|
|
|
> Biotechnology & Drug Delivery 1.8% |
|
|
| |
|
363,000 |
|
Seattle Genetics (a) |
|
15,910,290 |
| |
|
|
|
Antibody-based Therapies for Cancer |
|
|
| |
|
Health Care: Total |
|
50,927,950 |
| |||
|
|
|
|
|
|
| |
|
Other Industries 2.7% |
|
|
| |||
|
|
|
> Real Estate 2.7% |
|
|
| |
|
430,000 |
|
Post Properties |
|
19,358,600 |
| |
|
|
|
Multifamily Properties |
|
|
| |
|
235,000 |
|
Biomed Realty Trust |
|
4,368,650 |
| |
|
|
|
Life Science-focused Office Buildings |
|
|
| |
|
|
|
|
|
23,727,250 |
| |
|
Other Industries: Total |
|
23,727,250 |
| |||
|
|
|
|
| |||
|
Total Equities: 98.1% |
|
869,086,657 |
(f) | |||
|
|
|
|
| |||
|
Short-Term Investments 1.8% |
|
|
| |||
|
16,171,524 |
|
JPMorgan U.S. Government Money Market Fund, Agency Shares (7 day yield of 0.01%) |
|
16,171,524 |
| |
|
Total Short-Term Investments: 1.8% |
|
16,171,524 |
| |||
|
Number of Shares |
|
|
|
Value |
| |
|
Securities Lending Collateral 0.5% |
|
|
| |||
|
4,714,875 |
|
Dreyfus Government Cash Management Fund, Institutional Shares (7 day yield of 0.01%) (g) |
|
$ |
4,714,875 |
|
|
Total Securities Lending Collateral: |
|
4,714,875 |
| |||
|
|
|
|
|
|
| |
|
Total Investments: 100.4% |
|
889,973,056 |
(i) | |||
|
|
|
|
|
|
| |
|
Obligation to Return Collateral for Securities Loaned: (0.5)% |
|
(4,714,875 |
) | |||
|
|
|
|
| |||
|
Cash and Other Assets Less Liabilities: 0.1% |
|
972,659 |
| |||
|
|
|
|
| |||
|
Net Assets: 100.0% |
|
$ |
886,230,840 |
| ||
ADR - American Depositary Receipts
> Notes to Statement of Investments
(a) Non-income producing security.
(b) An affiliated person of the Fund, as defined in the Investment Company Act of 1940, 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 September 30, 2013, are as follows:
|
Security |
|
Balance of |
|
Purchases/ |
|
Sales/ |
|
Balance of |
|
Value |
|
Dividend |
| ||
|
WNS - ADR (1) |
|
3,034,100 |
|
— |
|
978,140 |
|
2,055,960 |
|
$ |
43,627,471 |
|
$ |
— |
|
|
Canadian Overseas Petroleum |
|
24,000,000 |
|
— |
|
— |
|
24,000,000 |
|
6,972,477 |
|
— |
| ||
|
IFM Investments (Century 21 China RE) - ADR |
|
1,300,000 |
|
— |
|
190,665 |
|
1,109,335 |
|
1,966,803 |
|
— |
| ||
|
Petrodorado Energy |
|
33,700,000 |
|
— |
|
— |
|
33,700,000 |
|
1,308,674 |
|
— |
| ||
|
Globalstar (1) |
|
19,000,000 |
|
— |
|
19,000,000 |
|
— |
|
— |
|
— |
| ||
|
Total of Affiliated Transactions |
|
81,034,100 |
|
— |
|
20,168,805 |
|
60,865,295 |
|
$ |
53,875,425 |
|
$ |
— |
|
(1) At September 30, 2013, the Fund owned less than five percent of the company’s outstanding voting shares.
The aggregate cost and value of these companies at September 30, 2013, was $34,380,342 and $10,247,954, respectively. Investments in affiliated companies represented 1.16% of the Fund’s total net assets at September 30, 2013.
(c) All or a portion of this security was on loan at September 30, 2013. The total market value of securities on loan at September 30, 2013 was $4,603,500.
(d) 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 September 30, 2013, the market value of these securities amounted to $25,663,228, which represented 2.90% of total net assets. Additional information on these securities is as follows:
|
Security |
|
Acquisition |
|
Shares/Units |
|
Cost |
|
Value |
| ||
|
Union Agriculture Group |
|
12/8/10-6/27/12 |
|
1,742,424 |
|
$ |
20,000,000 |
|
$ |
18,678,786 |
|
|
Canadian Overseas Petroleum |
|
11/24/10 |
|
24,000,000 |
|
10,260,435 |
|
6,972,477 |
| ||
|
Canadian Overseas Petroleum - Warrants |
|
11/24/10 |
|
12,000,000 |
|
1,501,964 |
|
11,965 |
| ||
|
|
|
|
|
|
|
$ |
31,762,399 |
|
$ |
25,663,228 |
|
(e) Illiquid security.
(f) On September 30, 2013, the market value of foreign securities represented 12.79% of total net assets. The Fund’s foreign portfolio was diversified as follows:
|
Country |
|
Value |
|
Percentage |
| |
|
India |
|
$ |
43,627,471 |
|
4.92 |
|
|
Colombia |
|
24,817,630 |
|
2.80 |
| |
|
Uruguay |
|
18,678,786 |
|
2.11 |
| |
|
Canada |
|
8,017,572 |
|
0.91 |
| |
|
Iraq |
|
7,699,626 |
|
0.87 |
| |
|
United Kingdom |
|
6,984,442 |
|
0.79 |
| |
|
China |
|
3,480,803 |
|
0.39 |
| |
|
Total Foreign Portfolio |
|
$ |
113,306,330 |
|
12.79 |
|
(g) Investment made with cash collateral received from securities lending activity.
> Notes to Statement of Investments
(h) At September 30, 2013, for federal income tax purposes, the cost of investments was $580,696,310 and net unrealized appreciation was $309,276,746 consisting of gross unrealized appreciation of $364,856,347 and gross unrealized depreciation of $55,579,601.
(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 Fund’s 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 management’s 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 Fund’s 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 Trust’s 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 September 30, 2013, in valuing the Fund’s assets:
|
Investment Type |
|
Quoted Prices |
|
Other |
|
Significant |
|
Total |
| ||||
|
Equities |
|
|
|
|
|
|
|
|
| ||||
|
Industrial Goods & Services |
|
$ |
218,976,477 |
|
$ |
— |
|
$ |
— |
|
$ |
218,976,477 |
|
|
Information |
|
211,706,611 |
|
— |
|
— |
|
211,706,611 |
| ||||
|
Finance |
|
145,263,640 |
|
— |
|
— |
|
145,263,640 |
| ||||
|
Consumer Goods & Services |
|
142,478,715 |
|
— |
|
— |
|
142,478,715 |
| ||||
|
Energy & Minerals |
|
50,342,786 |
|
6,984,442 |
|
18,678,786 |
|
76,006,014 |
| ||||
|
Health Care |
|
50,927,950 |
|
— |
|
— |
|
50,927,950 |
| ||||
|
Other Industries |
|
23,727,250 |
|
— |
|
— |
|
23,727,250 |
| ||||
|
Total Equities |
|
843,423,429 |
|
6,984,442 |
|
18,678,786 |
|
869,086,657 |
| ||||
|
Total Short-Term Investments |
|
16,171,524 |
|
— |
|
— |
|
16,171,524 |
| ||||
|
Total Securities Lending Collateral |
|
4,714,875 |
|
— |
|
— |
|
4,714,875 |
| ||||
|
Total Investments |
|
$ |
864,309,828 |
|
$ |
6,984,442 |
|
$ |
18,678,786 |
|
$ |
889,973,056 |
|
The Fund’s assets assigned to the Level 2 input category are generally valued using a market approach, in which a security’s value is determined through its correlation to prices and information from observable market transactions for similar or identical assets. 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 manager’s 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.
> Notes to Statement of Investments
The following table shows transfers between Level 1 and Level 2 of the fair value hierarchy:
|
Transfers In |
|
Transfers Out |
| ||||||||
|
Level 1 |
|
Level 2 |
|
Level 1 |
|
Level 2 |
| ||||
|
$ |
391,500 |
|
$ |
— |
|
$ |
— |
|
$ |
391,500 |
|
Financial assets were transferred from Level 2 to Level 1 as trading resumed during the period.
The following table reconciles asset balances for the period ending September 30, 2013, in which significant observable and/or unobservable inputs (Level 3) were used in determining value:
|
Investments in Securities |
|
Balance as |
|
Realized |
|
Change |
|
Purchases |
|
Sales |
|
Transfers |
|
Transfers |
|
Balance as |
| ||||||||
|
Equities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
|
Energy & Minerals |
|
$ |
17,842,422 |
|
$ |
— |
|
$ |
836,364 |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
18,678,786 |
|
|
|
|
$ |
17,842,422 |
|
$ |
— |
|
$ |
836,364 |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
18,678,786 |
|
The information in the above reconciliation table represents fiscal year to date activity for any securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period.
The change in unrealized appreciation attributed to securities owned at September 30, 2013, which were valued using significant unobservable inputs (Level 3), amounted to $836,364.
Quantitative information pertaining to Level 3 unobservable fair value measurements
|
|
|
Fair Value |
|
Valuation Technique(s) |
|
Unobservable Input(s) |
|
Range (Weighted |
| |
|
Equities |
|
$ |
18,678,786 |
|
Market comparable companies |
|
Discount for lack of marketability |
|
0% to 5% (-8%) |
|
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 company’s 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), September 30, 2013
|
Number of Shares |
|
|
|
Value |
| |
|
|
|
> Affiliated Bond Funds 74.0% |
|
|
| |
|
39,372,265 |
|
Columbia Short Term Bond Fund, Class I (a) |
|
$ |
392,147,758 |
|
|
32,524,483 |
|
Columbia Intermediate Bond Fund, Class I (a) |
|
294,997,064 |
| |
|
29,805,667 |
|
Columbia Income Opportunities Fund, Class I (a) |
|
294,181,932 |
| |
|
Total Affiliated Bond Funds: |
|
981,326,754 |
| |||
|
|
|
|
|
|
| |
|
|
|
> Affiliated Stock Funds 25.4% |
|
|
| |
|
1,478,284 |
|
Columbia Acorn International, Class I (a) |
|
68,917,625 |
| |
|
3,871,358 |
|
Columbia Dividend Income Fund, Class I (a) |
|
66,238,933 |
| |
|
1,394,130 |
|
Columbia Acorn Fund, Class I (a) |
|
51,192,466 |
| |
|
2,506,612 |
|
Columbia Contrarian Core Fund, Class I (a) |
|
49,781,306 |
| |
|
1,870,110 |
|
Columbia Select Large Cap Growth Fund, Class I (a)(b) |
|
34,223,015 |
| |
|
1,136,915 |
|
Columbia Acorn Select, Class I (a) |
|
33,800,475 |
| |
|
1,962,502 |
|
Columbia Large Cap Enhanced Core Fund, Class I (a) |
|
33,284,043 |
| |
|
Total Affiliated Stock Funds: |
|
337,437,863 |
| |||
|
|
|
|
|
|
| |
|
|
|
> Short-Term Investments 0.4% |
|
|
| |
|
6,382,740 |
|
JPMorgan U.S. Government Money Market Fund, Agency Shares (7 day yield of 0.01%) |
|
6,382,740 |
| |
|
Total Short-Term Investments: |
|
6,382,740 |
| |||
|
|
|
|
| |||
|
Total Investments: 99.8% |
|
1,325,147,357 |
(d) | |||
|
|
|
|
| |||
|
Cash and Other Assets Less Liabilities: 0.2% |
|
2,078,855 |
| |||
|
|
|
|
| |||
|
Net Assets: 100.0% |
|
$ |
1,327,226,212 |
| ||
> Notes to Statement of Investments
(a) An affiliated person of the Fund, as defined in the Investment Company Act of 1940, 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 September 30, 2013, are as follows:
|
Security |
|
Balance of |
|
Purchases/ |
|
Sales/ |
|
Balance of |
|
Value |
|
Dividend |
| ||
|
Columbia Short Term Bond Fund, Class I |
|
18,877,615 |
|
33,384,185 |
|
12,889,535 |
|
39,372,265 |
|
$ |
392,147,758 |
|
$ |
2,408,442 |
|
|
Columbia Intermediate Bond Fund, Class I |
|
14,950,850 |
|
27,802,311 |
|
10,228,678 |
|
32,524,483 |
|
294,997,064 |
|
5,098,030 |
| ||
|
Columbia Income Opportunities Fund, Class I |
|
14,098,807 |
|
24,991,896 |
|
9,285,036 |
|
29,805,667 |
|
294,181,932 |
|
9,845,884 |
| ||
|
Columbia Acorn International, Class I |
|
1,899,103 |
|
1,896,973 |
|
2,317,792 |
|
1,478,284 |
|
68,917,625 |
|
523,989 |
| ||
|
Columbia Dividend Income Fund, Class I |
|
5,273,173 |
|
4,788,613 |
|
6,190,428 |
|
3,871,358 |
|
66,238,933 |
|
1,150,582 |
| ||
|
Columbia Acorn Fund, Class I |
|
1,924,624 |
|
1,879,574 |
|
2,410,068 |
|
1,394,130 |
|
51,192,466 |
|
44,505 |
| ||
|
Columbia Contrarian Core Fund, Class I |
|
3,628,435 |
|
3,235,475 |
|
4,357,298 |
|
2,506,612 |
|
49,781,306 |
|
— |
| ||
|
Columbia Select Large Cap Growth Fund, Class I |
|
2,813,972 |
|
2,574,905 |
|
3,518,767 |
|
1,870,110 |
|
34,223,015 |
|
— |
| ||
|
Columbia Acorn Select, Class I |
|
1,523,738 |
|
1,538,803 |
|
1,925,626 |
|
1,136,915 |
|
33,800,475 |
|
134,566 |
| ||
|
Columbia Large Cap Enhanced Core Fund, Class I |
|
2,773,358 |
|
2,516,623 |
|
3,327,479 |
|
1,962,502 |
|
33,284,043 |
|
117,711 |
| ||
|
Total of Affiliated Transactions |
|
67,763,675 |
|
104,609,358 |
|
56,450,707 |
|
115,922,326 |
|
$ |
1,318,764,617 |
|
$ |
19,323,709 |
|
The aggregate cost and value of these companies at September 30, 2013, was $1,271,278,728 and $1,318,764,617, respectively. Investments in affiliated companies represented 99.36% of the Fund’s total net assets at September 30, 2013.
(b) Non-income producing security.
(c) At September 30, 2013, for federal income tax purposes, the cost of investments was $1,277,661,468 and net unrealized appreciation was $47,485,889 consisting of gross unrealized appreciation of $55,552,042 and gross unrealized depreciation of $8,066,153.
> Notes to Statement of Investments
(d) 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 Fund’s 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 management’s 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 Trust’s 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 September 30, 2013, in valuing the Fund’s assets:
|
Investment Type |
|
Quoted Prices |
|
Other |
|
Significant |
|
Total |
| ||||
|
Total Affiliated Bond Funds |
|
$ |
981,326,754 |
|
$ |
— |
|
$ |
— |
|
$ |
981,326,754 |
|
|
Total Affiliated Stock Funds |
|
337,437,863 |
|
— |
|
— |
|
337,437,863 |
| ||||
|
Total Short-Term Investments |
|
6,382,740 |
|
— |
|
— |
|
6,382,740 |
| ||||
|
Total Investments |
|
$ |
1,325,147,357 |
|
$ |
— |
|
$ |
— |
|
$ |
1,325,147,357 |
|
There were no transfers of financial assets between levels 1 and 2 during the period.
Columbia Acorn Emerging Markets Fund
Statement of Investments (Unaudited), September 30, 2013
|
Number of Shares |
|
|
|
Value |
| |
|
|
|
Equities: 96.8% |
|
|
| |
|
Asia 56.6% |
|
|
|
|
| |
|
|
|
> Taiwan 14.8% |
|
|
| |
|
2,311,000 |
|
Far EasTone Telecom |
|
$ |
5,757,805 |
|
|
|
|
Taiwan’s Third Largest Mobile Operator |
|
|
| |
|
146,000 |
|
St. Shine Optical |
|
4,023,287 |
| |
|
|
|
World’s Leading Disposable Contact Lens OEM (Original Equipment Manufacturer) |
|
|
| |
|
1,852,000 |
|
Taiwan Hon Chuan |
|
4,020,972 |
| |
|
|
|
Beverage Packaging (Bottles, Caps, Labels) Manufacturer |
|
|
| |
|
2,186,631 |
|
Lite-On Technology |
|
3,727,198 |
| |
|
|
|
Mobile Device, LED & PC Server Component Supplier |
|
|
| |
|
1,709,200 |
|
Chipbond |
|
3,529,302 |
| |
|
|
|
Semiconductor Back-end Packaging Services |
|
|
| |
|
624,169 |
|
Advantech |
|
3,494,200 |
| |
|
|
|
Industrial PC & Components |
|
|
| |
|
2,126,000 |
|
CTCI Corp |
|
3,436,222 |
| |
|
|
|
International Engineering Firm |
|
|
| |
|
1,306,990 |
|
Chroma Ate |
|
2,940,141 |
| |
|
|
|
Automatic Test Systems, Testing & Measurement Instruments |
|
|
| |
|
158,000 |
|
Ginko International |
|
2,923,310 |
| |
|
|
|
Largest Contact Lens Maker in China |
|
|
| |
|
496,000 |
|
PC Home |
|
2,853,818 |
| |
|
|
|
Taiwanese Internet Retail Company |
|
|
| |
|
823,144 |
|
Flexium Interconnect |
|
2,837,677 |
| |
|
|
|
Flexible Printed Circuit for Mobile Electronics |
|
|
| |
|
790,000 |
|
Radiant Opto-Electronics |
|
2,817,622 |
| |
|
|
|
LCD Back Light Units & Modules |
|
|
| |
|
93,500 |
|
Lung Yen |
|
284,235 |
| |
|
|
|
Funeral Services & Columbaria |
|
|
| |
|
56,266 |
|
CHC Healthcare |
|
180,828 |
| |
|
|
|
Medical Device Distributor |
|
|
| |
|
|
|
|
|
42,826,617 |
| |
|
|
|
> Indonesia 8.2% |
|
|
| |
|
28,369,500 |
|
MNC Skyvision (a) |
|
4,384,652 |
| |
|
|
|
Largest Satellite Pay TV Operator in Indonesia |
|
|
| |
|
15,853,079 |
|
Surya Citra Media |
|
3,491,739 |
| |
|
|
|
Free to Air TV Station in Indonesia |
|
|
| |
|
6,758,109 |
|
Tower Bersama Infrastructure (a) |
|
3,413,814 |
| |
|
|
|
Communications Towers |
|
|
| |
|
38,965,000 |
|
Arwana Citramulia |
|
2,862,333 |
| |
|
|
|
Ceramic Tiles for Home Decoration |
|
|
| |
|
1,017,000 |
|
Mayora Indah |
|
2,777,840 |
| |
|
|
|
Consumer Branded Food Manufacturer |
|
|
| |
|
3,022,500 |
|
Matahari Department Store (a) |
|
2,741,494 |
| |
|
|
|
Largest Department Store Chain in Indonesia |
|
|
| |
|
44,302,690 |
|
Ace Indonesia |
|
2,680,871 |
| |
|
|
|
Home Improvement Retailer |
|
|
| |
|
1,591,929 |
|
Archipelago Resources (b)(c)(d)(e) |
|
1,458,065 |
| |
|
|
|
Gold Mining Projects in Indonesia, Vietnam & the Philippines |
|
|
| |
|
|
|
|
|
23,810,808 |
| |
|
|
|
> Hong Kong 8.2% |
|
|
| |
|
3,398,000 |
|
Melco International |
|
9,132,315 |
| |
|
|
|
Macau Casino Operator |
|
|
| |
|
5,023,799 |
|
Sa Sa International |
|
5,672,456 |
| |
|
|
|
Cosmetics Retailer |
|
|
| |
|
350,100 |
|
ASM Pacific |
|
3,556,515 |
| |
|
|
|
Semi Back-end & Surface Mounting Equipment |
|
|
| |
|
2,258,000 |
|
Vitasoy International |
|
2,851,322 |
| |
|
|
|
Hong Kong Soy Food Brand |
|
|
| |
|
979,750 |
|
L’Occitane International |
|
2,561,452 |
| |
|
|
|
Skin Care & Cosmetics Producer |
|
|
| |
|
|
|
|
|
23,774,060 |
| |
|
|
|
> India 6.2% |
|
|
| |
|
1,617,116 |
|
Adani Ports & Special Economic Zone |
|
3,569,360 |
| |
|
|
|
Indian West Coast Shipping Port |
|
|
| |
|
219,155 |
|
United Breweries |
|
3,012,256 |
| |
|
|
|
India’s Largest Brewer |
|
|
| |
|
20,671 |
|
Bosch |
|
2,987,498 |
| |
|
|
|
Automotive Parts |
|
|
| |
|
147,861 |
|
Colgate Palmolive India |
|
2,928,895 |
| |
|
|
|
Consumer Products in Oral Care |
|
|
| |
|
51,731 |
|
TTK Prestige |
|
2,752,072 |
| |
|
|
|
Branded Cooking Equipment |
|
|
| |
|
3,122,282 |
|
Redington India |
|
2,729,461 |
| |
|
|
|
Supply Chain Solutions for IT & Mobile Handsets in Emerging Markets |
|
|
| |
|
|
|
|
|
17,979,542 |
| |
|
|
|
> Philippines 5.5% |
|
|
| |
|
23,367,600 |
|
Melco Crown Resorts (Philippines) (a) |
|
5,903,619 |
| |
|
|
|
Integrated Resort Operator in Manila |
|
|
| |
|
3,047,900 |
|
Puregold Price Club |
|
2,922,682 |
| |
|
|
|
Supermarket Operator in Philippines |
|
|
| |
|
1,228,597 |
|
Int’l Container Terminal |
|
2,739,603 |
| |
|
|
|
Container Handling Terminals & Port Management |
|
|
| |
|
849,560 |
|
Security Bank |
|
2,560,674 |
| |
|
|
|
Commercial Bank in Philippines |
|
|
| |
|
17,031,000 |
|
RFM Corporation |
|
1,898,115 |
| |
|
|
|
Flour, Bread, Pasta & Ice Cream Manufacturer/Distributor in Philippines |
|
|
| |
|
|
|
|
|
16,024,693 |
| |
|
|
|
> Thailand 4.5% |
|
|
| |
|
14,457,900 |
|
Home Product Center |
|
5,655,324 |
| |
|
|
|
Home Improvement Retailer |
|
|
| |
|
2,674,700 |
|
Robinson’s Department Store |
|
4,070,670 |
| |
|
|
|
Department Store Operator in Thailand |
|
|
| |
|
6,008,500 |
|
Samui Airport Property Fund |
|
3,243,827 |
| |
|
|
|
Thai Airport Operator |
|
|
| |
|
|
|
|
|
12,969,821 |
| |
|
|
|
> China 3.2% |
|
|
| |
|
475,000 |
|
Biostime (b) |
|
3,591,108 |
| |
|
|
|
Pediatric Nutrition & Baby Care Products Provider |
|
|
| |
|
105,365 |
|
WuXi PharmaTech - ADR (a) |
|
2,887,001 |
| |
|
|
|
Largest Contract Research Organization Business in China |
|
|
| |
|
Number of Shares |
|
|
|
Value |
| |
|
|
|
> China—continued |
|
|
| |
|
6,386,000 |
|
AMVIG Holdings |
|
$ |
2,752,679 |
|
|
|
|
Chinese Tobacco Packaging Material Supplier |
|
|
| |
|
67,151 |
|
Digital China |
|
82,361 |
| |
|
|
|
IT Distribution & Systems Integration Services |
|
|
| |
|
|
|
|
|
9,313,149 |
| |
|
|
|
> Cambodia 1.9% |
|
|
| |
|
6,436,000 |
|
Nagacorp |
|
5,430,190 |
| |
|
|
|
Casino/Entertainment Complex in Cambodia |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Japan 1.2% |
|
|
| |
|
261,760 |
|
Kansai Paint |
|
3,478,584 |
| |
|
|
|
Paint Producer in Japan, India, China & Southeast Asia |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Korea 1.0% |
|
|
| |
|
133,884 |
|
Paradise Co |
|
3,051,427 |
| |
|
|
|
Korean ‘Foreigner Only’ Casino Operator |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Singapore 1.0% |
|
|
| |
|
830,000 |
|
Super Group |
|
2,807,108 |
| |
|
|
|
Instant Food & Beverages in Southeast Asia |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Mongolia 0.5% |
|
|
| |
|
7,747,100 |
|
Mongolian Mining (a) |
|
1,389,440 |
| |
|
|
|
Coking Coal Mining in Mongolia |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Malaysia 0.4% |
|
|
| |
|
232,900 |
|
Aeon |
|
1,100,371 |
| |
|
|
|
Shopping Center & Department Store Operator |
|
|
| |
|
Asia: Total |
|
163,955,810 |
| |||
|
|
|
|
|
|
| |
|
Europe 15.1% |
|
|
| |||
|
|
|
> Russia 3.7% |
|
|
| |
|
2,185,581 |
|
Moscow Exchange |
|
4,185,464 |
| |
|
|
|
Russia’s Main Exchange for Stocks, Bonds, Derivatives, Currencies & Repo |
|
|
| |
|
102,420 |
|
Yandex (a) |
|
3,730,137 |
| |
|
|
|
Search Engine for Russian & Turkish Languages |
|
|
| |
|
91,058 |
|
QIWI - ADR |
|
2,846,473 |
| |
|
|
|
Electronic Payments Network Serving Russia & the Commonwealth of Independent States |
|
|
| |
|
|
|
|
|
10,762,074 |
| |
|
|
|
> Finland 3.2% |
|
|
| |
|
65,855 |
|
Vacon |
|
5,185,152 |
| |
|
|
|
Leading Independent Manufacturer of Variable Speed Alternating Current Drives |
|
|
| |
|
154,160 |
|
Tikkurila |
|
4,108,542 |
| |
|
|
|
Decorative & Industrial Paint in Scandinavia & Central & Eastern Europe |
|
|
| |
|
|
|
|
|
9,293,694 |
| |
|
|
|
> Sweden 2.0% |
|
|
| |
|
189,560 |
|
Hexagon |
|
5,716,266 |
| |
|
|
|
Design, Measurement & Visualization Software & Equipment |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Kazakhstan 1.9% |
|
|
| |
|
698,908 |
|
Halyk Savings Bank of Kazakhstan - GDR |
|
5,521,373 |
| |
|
|
|
Largest Retail Bank & Insurer in Kazakhstan |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> United Kingdom 1.5% |
|
|
| |
|
6,749,624 |
|
Cable and Wireless |
|
4,330,359 |
| |
|
|
|
Leading Telecoms Service Provider in the Caribbean |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Italy 1.4% |
|
|
| |
|
320,827 |
|
Pirelli |
|
4,177,548 |
| |
|
|
|
Global Tire Supplier |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Turkey 1.4% |
|
|
| |
|
311,893 |
|
Bizim Toptan |
|
4,029,805 |
| |
|
|
|
Cash & Carry Stores in Turkey |
|
|
| |
|
Europe: Total |
|
43,831,119 |
| |||
|
|
|
|
|
|
| |
|
Latin America 13.4% |
|
|
| |||
|
|
|
> Mexico 5.3% |
|
|
| |
|
1,824,000 |
|
Qualitas |
|
4,438,244 |
| |
|
|
|
Leading Auto Insurer in Mexico & Central America |
|
|
| |
|
739,700 |
|
Gruma (a) |
|
4,125,299 |
| |
|
|
|
Tortilla Producer & Distributor |
|
|
| |
|
1,506,700 |
|
Genomma Lab Internacional (a) |
|
3,441,715 |
| |
|
|
|
Develops, Markets & Distributes Consumer Products |
|
|
| |
|
25,190 |
|
Grupo Aeroportuario del Sureste - ADR |
|
2,742,184 |
| |
|
|
|
Mexican Airport Operator |
|
|
| |
|
306,161 |
|
Bolsa Mexicana de Valores |
|
731,867 |
| |
|
|
|
Mexico’s Stock Exchange |
|
|
| |
|
|
|
|
|
15,479,309 |
| |
|
|
|
> Brazil 5.2% |
|
|
| |
|
377,870 |
|
Localiza Rent A Car |
|
5,660,463 |
| |
|
|
|
Car Rental |
|
|
| |
|
3,975,346 |
|
Beadell Resources (a) |
|
3,445,669 |
| |
|
|
|
Gold Mining in Brazil |
|
|
| |
|
674,200 |
|
Odontoprev |
|
2,978,125 |
| |
|
|
|
Dental Insurance |
|
|
| |
|
172,600 |
|
Linx |
|
2,900,938 |
| |
|
|
|
Retail Management Software in Brazil |
|
|
| |
|
|
|
|
|
14,985,195 |
| |
|
|
|
> Colombia 1.9% |
|
|
| |
|
3,635,863 |
|
Isagen (a) |
|
5,569,310 |
| |
|
|
|
Colombian Electricity Provider |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Chile 1.0% |
|
|
| |
|
3,189,994 |
|
Empresas Hites |
|
2,920,132 |
| |
|
|
|
Mass Retailer for the Lower Income Strata |
|
|
| |
|
Latin America: Total |
|
38,953,946 |
| |||
|
|
|
|
|
|
| |
|
Other Countries 11.7% |
|
|
| |||
|
|
|
> South Africa 6.9% |
|
|
| |
|
1,156,120 |
|
Coronation Fund Managers |
|
7,899,189 |
| |
|
|
|
South African Fund Manager |
|
|
| |
|
1,927,792 |
|
Rand Merchant Insurance |
|
5,138,090 |
| |
|
|
|
Directly Sold Property & Casualty Insurance; Holdings in Other Insurers |
|
|
| |
|
Number of Shares |
|
|
|
Value |
| ||||
|
|
|
> South Africa—continued |
|
|
| ||||
|
228,382 |
|
Massmart Holdings |
|
$ |
3,824,166 |
| |||
|
|
|
General Merchandise, Food & Home Improvement Stores; Wal-Mart Subsidiary |
|
|
| ||||
|
224,031 |
|
Mr. Price |
|
3,102,663 |
| ||||
|
|
|
South African Retailer of Apparel, Household & Sporting Goods |
|
|
| ||||
|
|
|
|
|
19,964,108 |
| ||||
|
|
|
> United States 2.8% |
|
|
| ||||
|
120,163 |
|
Textainer Group Holdings (b) |
|
4,550,573 |
| ||||
|
|
|
Top International Container Leaser |
|
|
| ||||
|
67,433 |
|
Atwood Oceanics (a) |
|
3,711,512 |
| ||||
|
|
|
Offshore Drilling Contractor |
|
|
| ||||
|
|
|
|
|
8,262,085 |
| ||||
|
|
|
> Canada 2.0% |
|
|
| ||||
|
315,195 |
|
CAE |
|
3,451,677 |
| ||||
|
|
|
Flight Simulator Equipment & Training Centers |
|
|
| ||||
|
153,291 |
|
Alliance Grain Traders |
|
2,211,450 |
| ||||
|
|
|
Global Leader in Pulse Processing & Distribution |
|
|
| ||||
|
|
|
|
|
5,663,127 |
| ||||
|
Other Countries: Total |
|
33,889,320 |
| ||||||
|
|
|
|
| ||||||
|
Total Equities: 96.8% |
|
280,630,195 |
(f) | ||||||
|
|
|
|
| ||||||
|
Short-Term Investments 4.9% |
|
|
| ||||||
|
14,178,170 |
|
JPMorgan U.S. Government Money Market Fund, Capital Shares (7 day yield of 0.01%) |
|
14,178,170 |
| ||||
|
Total Short-Term Investments: 4.9% |
|
14,178,170 |
| ||||||
|
|
|
|
|
|
| ||||
|
Securities Lending Collateral 1.1% |
|
|
| ||||||
|
3,140,051 |
|
Dreyfus Government Cash Management Fund, Institutional Shares (7 day yield of 0.01%) (g) |
|
3,140,051 |
| ||||
|
Total Securities Lending Collateral: |
|
3,140,051 |
| ||||||
|
|
|
|
| ||||||
|
Total Investments: 102.8% |
|
297,948,416 |
(i) | ||||||
|
|
|
|
| ||||||
|
Obligation to Return Collateral for Securities Loaned: (1.1)% |
|
(3,140,051 |
) | ||||||
|
|
|
|
| ||||||
|
Cash and Other Assets Less Liabilities: (1.7)% |
|
(5,065,789 |
) | ||||||
|
|
|
|
| ||||||
|
Net Assets: 100.0% |
|
$ |
289,742,576 |
| |||||
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 September 30, 2013. The total market value of securities on loan at September 30, 2013 was $3,018,082.
(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 September 30, 2013, the market value of this security amounted to $1,458,065, which represented 0.50% of total net assets. Additional information on this security is as follows:
|
Security |
|
Acquisition |
|
Shares/Units |
|
Cost |
|
Value |
| ||
|
Archipelago Resources |
|
8/19/11-9/26/13 |
|
1,591,929 |
|
$ |
1,316,810 |
|
$ |
1,458,065 |
|
(e) Units represent shares of security and related put options received through company restructuring. Additional information on the purchased options received is as follows:
|
Security |
|
Option Shares |
|
Exercise Price |
|
Expiration Date (1) |
| |
|
Archipelago Resources |
|
1,591,929 |
|
GBP |
0.58 |
|
October 31, 2014 |
|
GBP - British Pound
(1) Archipelago Resources is expected to restructure into a new company during 2014. From January 31, 2014, the option is exercisable until the earlier of (i) the date the company is restructured and prices the shares for its initial public offering or (ii) August 13, 2014, subject to extension until the date the company is restructured and prices the shares for its initial public offering (but not later than September 26, 2016). After August 13, 2014, the valuation of the option will fluctuate based upon its fair market value as determined in accordance with the put option agreement.
> Notes to Statement of Investments
(f) On September 30, 2013, the Fund’s total investments were denominated in currencies as follows:
|
Currency |
|
Value |
|
Percentage |
| |
|
Taiwan Dollar |
|
$ |
42,826,617 |
|
14.8 |
|
|
Hong Kong Dollar |
|
37,019,838 |
|
12.8 |
| |
|
United States Dollar |
|
30,174,717 |
|
10.4 |
| |
|
Indonesian Rupiah |
|
22,352,743 |
|
7.7 |
| |
|
South African Rand |
|
19,964,108 |
|
6.9 |
| |
|
Indian Rupee |
|
17,979,542 |
|
6.2 |
| |
|
Phillipine Peso |
|
16,024,693 |
|
5.5 |
| |
|
Other currencies less than 5% of total net assets |
|
94,287,937 |
|
32.5 |
| |
|
Total Equities |
|
$ |
280,630,195 |
|
96.8 |
|
(g) Investment made with cash collateral received from securities lending activity.
(h) At September 30, 2013, for federal income tax purposes, the cost of investments was $292,281,918 and net unrealized appreciation was $5,666,498 consisting of gross unrealized appreciation of $18,379,488 and gross unrealized depreciation of $12,712,990.
(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 Fund’s 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 management’s 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 Fund’s 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 Trust’s 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 September 30, 2013, in valuing the Fund’s assets:
|
Investment Type |
|
Quoted Prices |
|
Other |
|
Significant |
|
Total |
| ||||
|
Equities |
|
|
|
|
|
|
|
|
| ||||
|
Asia |
|
$ |
2,887,001 |
|
$ |
159,610,744 |
|
$ |
1,458,065 |
|
$ |
163,955,810 |
|
|
Europe |
|
6,576,610 |
|
37,254,509 |
|
— |
|
43,831,119 |
| ||||
|
Latin America |
|
35,508,277 |
|
3,445,669 |
|
— |
|
38,953,946 |
| ||||
|
Other Countries |
|
13,925,212 |
|
19,964,108 |
|
— |
|
33,889,320 |
| ||||
|
Total Equities |
|
58,897,100 |
|
220,275,030 |
|
1,458,065 |
|
280,630,195 |
| ||||
|
Total Short-Term Investments |
|
14,178,170 |
|
— |
|
— |
|
14,178,170 |
| ||||
|
Total Securities Lending Collateral |
|
3,140,051 |
|
— |
|
— |
|
3,140,051 |
| ||||
|
Total Investments |
|
$ |
76,215,321 |
|
$ |
220,275,030 |
|
$ |
1,458,065 |
|
$ |
297,948,416 |
|
The Fund’s assets assigned to the Level 2 input category are generally valued using a market approach, in which a security’s 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.
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 company’s capital structure. Significant increases or decreases to any of these inputs could result in a significantly lower or higher fair value measurement.
Columbia Acorn European Fund
Statement of Investments (Unaudited), September 30, 2013
|
Number of Shares |
|
|
|
Value |
| |
|
|
|
Equities: 86.3% |
|
|
| |
|
Europe 83.7% |
|
|
|
|
| |
|
|
|
> United Kingdom 26.0% |
|
|
| |
|
22,100 |
|
Jardine Lloyd Thompson Group |
|
$ |
338,099 |
|
|
|
|
International Business Insurance Broker |
|
|
| |
|
520,087 |
|
Assura |
|
303,109 |
| |
|
|
|
UK Primary Health Care Property Developer |
|
|
| |
|
44,512 |
|
Ocado (a) |
|
285,360 |
| |
|
|
|
Online Grocery Retailer |
|
|
| |
|
4,984 |
|
Spirax Sarco |
|
243,268 |
| |
|
|
|
Steam Systems for Manufacturing & Process Industries |
|
|
| |
|
61,500 |
|
Charles Taylor |
|
209,081 |
| |
|
|
|
Insurance Services |
|
|
| |
|
21,262 |
|
Domino’s Pizza UK & Ireland |
|
201,019 |
| |
|
|
|
Pizza Delivery in UK, Ireland & Germany |
|
|
| |
|
14,550 |
|
Telecity |
|
195,507 |
| |
|
|
|
European Data Center Provider |
|
|
| |
|
23,431 |
|
Abcam |
|
191,938 |
| |
|
|
|
Online Sales of Antibodies |
|
|
| |
|
4,400 |
|
Croda |
|
189,120 |
| |
|
|
|
Oleochemicals & Industrial Chemicals |
|
|
| |
|
14,012 |
|
WH Smith (b) |
|
187,597 |
| |
|
|
|
Newsprint, Books & General Stationery Retailer |
|
|
| |
|
50,000 |
|
Smiths News |
|
165,937 |
| |
|
|
|
Newspaper & Magazine Distributor |
|
|
| |
|
15,962 |
|
Shaftesbury |
|
152,461 |
| |
|
|
|
London Prime Retail REIT |
|
|
| |
|
2,962 |
|
Whitbread |
|
142,129 |
| |
|
|
|
The UK’s Leading Hotelier & Coffee Shop |
|
|
| |
|
21,850 |
|
Halford’s |
|
139,228 |
| |
|
|
|
The UK’s Leading Retailer for Leisure Goods & Auto Parts |
|
|
| |
|
6,687 |
|
Babcock International |
|
129,474 |
| |
|
|
|
Public Sector Outsourcer |
|
|
| |
|
3,075 |
|
Rightmove |
|
117,932 |
| |
|
|
|
Internet Real Estate Listings |
|
|
| |
|
4,400 |
|
Aggreko |
|
114,256 |
| |
|
|
|
Temporary Power & Temperature Control Services |
|
|
| |
|
174,450 |
|
Cable and Wireless |
|
111,922 |
| |
|
|
|
Leading Telecoms Service Provider in the Caribbean |
|
|
| |
|
28,475 |
|
Elementis |
|
110,498 |
| |
|
|
|
Clay-based Additives |
|
|
| |
|
3,325 |
|
Fidessa Group |
|
107,011 |
| |
|
|
|
Software for Financial Trading Systems |
|
|
| |
|
2,531 |
|
AVEVA |
|
106,452 |
| |
|
|
|
Engineering Software |
|
|
| |
|
146 |
|
Telecom Plus |
|
2,992 |
| |
|
|
|
UK Multi Utility |
|
|
| |
|
|
|
|
|
3,744,390 |
| |
|
|
|
> France 12.1% |
|
|
| |
|
1,425 |
|
Eurofins Scientific |
|
359,151 |
| |
|
|
|
Food, Pharmaceuticals & Materials Screening & Testing |
|
|
| |
|
3,062 |
|
Gemalto |
|
328,785 |
| |
|
|
|
Digital Security Solutions |
|
|
| |
|
4,050 |
|
Neopost |
|
294,937 |
| |
|
|
|
Postage Meter Machines |
|
|
| |
|
3,212 |
|
1000 mercis (a) |
|
195,106 |
| |
|
|
|
Interactive Advertising & Marketing |
|
|
| |
|
1,762 |
|
Norbert Dentressangle |
|
188,314 |
| |
|
|
|
Leading European Logistics & Transport Group |
|
|
| |
|
4,912 |
|
Saft |
|
135,496 |
| |
|
|
|
Niche Battery Manufacturer |
|
|
| |
|
4,275 |
|
AKKA Technologies |
|
125,501 |
| |
|
|
|
Engineering Consultancy |
|
|
| |
|
47,637 |
|
Hi-Media (a) |
|
116,002 |
| |
|
|
|
Online Advertiser in Europe |
|
|
| |
|
|
|
|
|
1,743,292 |
| |
|
|
|
> Germany 9.9% |
|
|
| |
|
2,187 |
|
Bertrandt |
|
275,335 |
| |
|
|
|
Outsourced Engineering |
|
|
| |
|
7,880 |
|
Aurelius |
|
255,318 |
| |
|
|
|
European Turnaround Investor |
|
|
| |
|
4,462 |
|
Elringklinger |
|
200,771 |
| |
|
|
|
Automobile Components |
|
|
| |
|
4,157 |
|
NORMA Group |
|
200,263 |
| |
|
|
|
Clamps for Automotive & Industrial Applications |
|
|
| |
|
5,675 |
|
Wirecard |
|
194,124 |
| |
|
|
|
Online Payment Processing & Risk Management |
|
|
| |
|
14,312 |
|
TAG Immobilien |
|
177,608 |
| |
|
|
|
Owner of Residential Properties in Germany |
|
|
| |
|
430 |
|
Rational |
|
128,271 |
| |
|
|
|
Commercial Ovens |
|
|
| |
|
|
|
|
|
1,431,690 |
| |
|
|
|
> Netherlands 7.0% |
|
|
| |
|
9,837 |
|
Aalberts Industries |
|
262,101 |
| |
|
|
|
Flow Control & Heat Treatment |
|
|
| |
|
4,562 |
|
UNIT4 |
|
178,671 |
| |
|
|
|
Business Software Development |
|
|
| |
|
5,787 |
|
Arcadis |
|
165,504 |
| |
|
|
|
Engineering Consultants |
|
|
| |
|
4,550 |
|
TKH Group |
|
136,282 |
| |
|
|
|
Dutch Industrial Conglomerate |
|
|
| |
|
800 |
|
Core Labs |
|
135,368 |
| |
|
|
|
Oil & Gas Reservoir Consulting |
|
|
| |
|
2,100 |
|
Fugro |
|
128,100 |
| |
|
|
|
Subsea Oilfield Services |
|
|
| |
|
|
|
|
|
1,006,026 |
| |
|
|
|
> Switzerland 5.6% |
|
|
| |
|
957 |
|
Geberit |
|
258,417 |
| |
|
|
|
Plumbing Supplies |
|
|
| |
|
1,028 |
|
Partners Group |
|
252,012 |
| |
|
|
|
Private Markets Asset Management |
|
|
| |
|
66 |
|
Sika |
|
192,377 |
| |
|
|
|
Chemicals for Construction & Industrial Applications |
|
|
| |
|
303 |
|
INFICON |
|
97,164 |
| |
|
|
|
Gas Detection Instruments |
|
|
| |
|
|
|
|
|
799,970 |
| |
|
Number of Shares |
|
|
|
Value |
| |
|
|
|
> Sweden 4.2% |
|
|
| |
|
5,250 |
|
Hexagon |
|
$ |
158,316 |
|
|
|
|
Design, Measurement & Visualization Software & Equipment |
|
|
| |
|
42,000 |
|
Eniro (a) |
|
153,578 |
| |
|
|
|
Leading Provider of Local Search Services in Nordics |
|
|
| |
|
3,737 |
|
Unibet |
|
150,022 |
| |
|
|
|
European Online Gaming Operator |
|
|
| |
|
11,512 |
|
Sweco |
|
148,676 |
| |
|
|
|
Engineering Consultants |
|
|
| |
|
|
|
|
|
610,592 |
| |
|
|
|
> Finland 3.7% |
|
|
| |
|
3,043 |
|
Vacon |
|
239,594 |
| |
|
|
|
Leading Independent Manufacturer of Variable Speed Alternating Current Drives |
|
|
| |
|
5,853 |
|
Tikkurila |
|
155,989 |
| |
|
|
|
Decorative & Industrial Paint in Scandinavia & Central & Eastern Europe |
|
|
| |
|
4,012 |
|
Konecranes |
|
135,094 |
| |
|
|
|
Manufacture & Service of Industrial Cranes & Port Handling Equipment |
|
|
| |
|
|
|
|
|
530,677 |
| |
|
|
|
> Russia 3.5% |
|
|
| |
|
6,900 |
|
QIWI - ADR |
|
215,694 |
| |
|
|
|
Electronic Payments Network Serving Russia & the Commonwealth of Independent States |
|
|
| |
|
4,562 |
|
Yandex (a) |
|
166,148 |
| |
|
|
|
Search Engine for Russian & Turkish Languages |
|
|
| |
|
65,000 |
|
Moscow Exchange |
|
124,477 |
| |
|
|
|
Russia’s Main Exchange for Stocks, Bonds, Derivatives, Currencies & Repo |
|
|
| |
|
|
|
|
|
506,319 |
| |
|
|
|
> Norway 3.3% |
|
|
| |
|
9,200 |
|
Subsea 7 |
|
191,244 |
| |
|
|
|
Offshore Subsea Contractor |
|
|
| |
|
16,962 |
|
Atea |
|
178,414 |
| |
|
|
|
Leading Nordic IT Hardware/Software Reseller & Installation Company |
|
|
| |
|
15,054 |
|
Orkla |
|
109,652 |
| |
|
|
|
Food & Brands, Aluminum, Chemicals Conglomerate |
|
|
| |
|
|
|
|
|
479,310 |
| |
|
|
|
> Spain 3.0% |
|
|
| |
|
20,100 |
|
Dia |
|
174,275 |
| |
|
|
|
Leading Hard Discounter in Spain, Latin America & the Eastern Mediterranean |
|
|
| |
|
2,700 |
|
Viscofan |
|
154,400 |
| |
|
|
|
Sausage Casings Maker |
|
|
| |
|
3,152 |
|
Bolsas y Mercados Españoles |
|
100,016 |
| |
|
|
|
Spanish Stock Markets |
|
|
| |
|
|
|
|
|
428,691 |
| |
|
|
|
> Denmark 1.9% |
|
|
| |
|
2,912 |
|
Jyske Bank (a) |
|
144,620 |
| |
|
|
|
Danish Bank |
|
|
| |
|
3,962 |
|
SimCorp |
|
133,310 |
| |
|
|
|
Software for Investment Managers |
|
|
| |
|
|
|
|
|
277,930 |
| |
|
|
|
> Belgium 1.2% |
|
|
| |
|
2,687 |
|
EVS Broadcast Equipment |
|
173,358 |
| |
|
|
|
Digital Live Mobile Production Software & Systems |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Italy 1.1% |
|
|
| |
|
9,150 |
|
Pirelli |
|
119,144 |
| |
|
|
|
Global Tire Supplier |
|
|
| |
|
16,449 |
|
Geox |
|
44,951 |
| |
|
|
|
Apparel & Shoe Maker |
|
|
| |
|
|
|
|
|
164,095 |
| |
|
|
|
> Turkey 0.9% |
|
|
| |
|
10,000 |
|
Bizim Toptan |
|
129,205 |
| |
|
|
|
Cash & Carry Stores in Turkey |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Portugal 0.3% |
|
|
| |
|
12,679 |
|
Redes Energéticas Nacionais |
|
37,908 |
| |
|
|
|
Portuguese Power Transmission & Gas Transportation |
|
|
| |
|
Europe: Total |
|
12,063,453 |
| |||
|
|
|
|
| |||
|
Other Countries 1.8% |
|
|
| |||
|
|
|
> United States 1.0% |
|
|
| |
|
2,937 |
|
Gulfmark Offshore |
|
149,464 |
| |
|
|
|
Operator of Offshore Supply Vessels |
|
|
| |
|
|
|
|
|
|
| |
|
|
|
> Canada 0.8% |
|
|
| |
|
7,691 |
|
Alliance Grain Traders |
|
110,954 |
| |
|
|
|
Global Leader in Pulse Processing & Distribution |
|
|
| |
|
Other Countries: Total |
|
260,418 |
| |||
|
|
|
|
|
|
| |
|
Asia 0.8% |
|
|
| |||
|
|
|
> Hong Kong 0.8% |
|
|
| |
|
45,200 |
|
L’Occitane International |
|
118,170 |
| |
|
|
|
Skin Care & Cosmetics Producer |
|
|
| |
|
Asia: Total |
|
118,170 |
| |||
|
|
|
|
|
|
| |
|
Total Equities: 86.3% |
|
12,442,041 |
(c) | |||
|
|
|
|
|
|
| |
|
Short-Term Investments 5.2% |
|
|
| |||
|
754,982 |
|
JPMorgan U.S. Government Money Market Fund, Capital Shares (7 day yield of 0.01%) |
|
754,982 |
| |
|
Total Short-Term Investments: 5.2% |
|
754,982 |
| |||
|
Number of Shares |
|
|
|
Value |
| |
|
Securities Lending Collateral 0.2% |
|
|
| |||
|
22,828 |
|
Dreyfus Government Cash Management Fund, Institutional Shares (7 day yield of 0.01)% (d) |
|
$ |
22,828 |
|
|
Total Securities Lending Collateral: |
|
22,828 |
| |||
|
|
|
|
|
|
| |
|
Total Investments: 91.7% |
|
13,219,851 |
(f) | |||
|
|
|
|
|
|
| |
|
Obligation to Return Collateral for Securities Loaned: (0.2)% |
|
(22,828 |
) | |||
|
|
|
|
|
|
| |
|
Cash and Other Assets Less Liabilities: 8.5% |
|
1,225,742 |
| |||
|
|
|
|
|
|
| |
|
Net Assets: 100.0% |
|
$ |
14,422,765 |
| ||
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 September 30, 2013. The total market value of securities on loan at September 30, 2013 was $21,682.
(c) On September 30, 2013, the Fund’s total investments were denominated in currencies as follows:
|
Currency |
|
Value |
|
Percentage |
| |
|
Euro |
|
$ |
5,380,368 |
|
37.3 |
|
|
British Pound |
|
3,744,390 |
|
26.0 |
| |
|
Swiss Franc |
|
799,970 |
|
5.5 |
| |
|
United States Dollar |
|
791,151 |
|
5.5 |
| |
|
Other currencies less than 5% of total net assets |
|
1,726,162 |
|
12.0 |
| |
|
Total Equities |
|
$ |
12,442,041 |
|
86.3 |
|
(d) Investment made with cash collateral received from securities lending activity.
(e) At September 30, 2013, for federal income tax purposes, the cost of investments was $11,681,102 and net unrealized appreciation was $1,538,749 consisting of gross unrealized appreciation of $1,601,001 and gross unrealized depreciation of $62,252.
(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 Fund’s 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 management’s 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 Fund’s 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.
> Notes to Statement of Investments
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 Trust’s 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 September 30, 2013, in valuing the Fund’s assets:
|
Investment Type |
|
Quoted Prices |
|
Other |
|
Significant |
|
Total |
| ||||
|
Equities |
|
|
|
|
|
|
|
|
| ||||
|
Europe |
|
$ |
517,210 |
|
$ |
11,546,243 |
|
$ |
— |
|
$ |
12,063,453 |
|
|
Other Countries |
|
260,418 |
|
— |
|
— |
|
260,418 |
| ||||
|
Asia |
|
— |
|
118,170 |
|
— |
|
118,170 |
| ||||
|
Total Equities |
|
777,628 |
|
11,664,413 |
|
— |
|
12,442,041 |
| ||||
|
Total Short-Term Investments |
|
754,982 |
|
— |
|
— |
|
754,982 |
| ||||
|
Total Securities Lending Collateral |
|
22,828 |
|
— |
|
— |
|
22,828 |
| ||||
|
Total Investments |
|
$ |
1,555,438 |
|
$ |
11,664,413 |
|
$ |
— |
|
$ |
13,219,851 |
|
The Fund’s assets assigned to the Level 2 input category are generally valued using a market approach, in which a security’s 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 registrant’s principal executive officer and principal financial officers, based on their evaluation of the registrant’s 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 registrant’s 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 registrant’s internal control over financial reporting that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s 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 |
|
November 25, 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 |
|
November 25, 2013 |
|
|
|
|
| |
|
|
|
| |
|
By (Signature and Title) |
/s/ Bruce H. Lauer |
| |
|
|
Bruce H. Lauer, Treasurer |
| |
|
|
|
| |
|
|
|
| |
|
Date |
|
November 25, 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 registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
(a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and
(d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
(a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and
(b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
Date: November 25, 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 registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
(a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and
(d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
(a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and
(b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
Date: November 25, 2013 |
/s/ Charles P. McQuaid |
|
|
Charles P. McQuaid, President |