N-CSRS 1 a10-10128_1ncsrs.htm N-CSRS

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM N-CSR

 

CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

 

Investment Company Act file number

811-04604

 

CREDIT SUISSE CAPITAL FUNDS

(Exact name of registrant as specified in charter)

 

Eleven Madison Avenue, New York, New York

 

10010

(Address of principal executive offices)

 

(Zip code)

 

J. Kevin Gao, Esq.

Credit Suisse Capital Funds

Eleven Madison Avenue

New York, New York  10010

(Name and address of agent for service)

 

Registrant’s telephone number, including area code:

(212) 325-2000

 

 

Date of fiscal year end:

October 31

 

 

Date of reporting period:

November 1, 2009 to April 30, 2010

 

 



 

Item 1. Reports to Stockholders.

 



CREDIT SUISSE FUNDS

Semiannual Report

April 30, 2010
(unaudited)

n  CREDIT SUISSE
  LARGE CAP VALUE FUND

n  CREDIT SUISSE
  SMALL CAP CORE FUND

The Funds' investment objectives, risks, charges and expenses (which should be considered carefully before investing), and more complete information about the Funds, are provided in the Prospectus, which should be read carefully before investing. You may obtain additional copies by calling 877-870-2874 or by writing to Credit Suisse Funds, P.O. Box 55030, Boston, MA 02205-5030.

Credit Suisse Asset Management Securities, Inc., Distributor, is located at Eleven Madison Avenue, New York, NY 10010. Credit Suisse Funds are advised by Credit Suisse Asset Management, LLC.



Investors in the Credit Suisse Funds should be aware that they may be eligible to purchase Common Class and/or Advisor Class shares (where offered) directly or through certain intermediaries. Such shares are not subject to a sales charge but may be subject to an ongoing service and distribution fee of up to 0.50% of average daily net assets. Investors in the Credit Suisse Funds should also be aware that they may be eligible for a reduction or waiver of the sales charge with respect to Class A, B or C shares (where offered). For more information, please review the relevant prospectuses or consult your financial representative.

The views of the Funds' management are as of the date of the letter and the Fund holdings described in this document are as of April 30, 2010; these views and Fund holdings may have changed subsequent to these dates. Nothing in this document is a recommendation to purchase or sell securities.

Fund shares are not deposits or other obligations of Credit Suisse Asset Management, LLC ("Credit Suisse") or any affiliate, are not FDIC-insured and are not guaranteed by Credit Suisse or any affiliate. Fund investments are subject to investment risks, including loss of your investment.




Credit Suisse Large Cap Value Fund
Semiannual Investment Adviser's Report

April 30, 2010 (unaudited)

May 12, 2010

Dear Shareholder:

Performance Summary
11/01/09 – 04/30/10

Fund and Benchmark   Performance  
Common Class1      14.26 %  
Advisor Class1      13.97 %  
Class A1,2      14.10 %  
Class B1,2      13.70 %  
Class C1,2      13.63 %  
Russell 1000 Value Index3      17.77 %  

 

Performance shown for the Fund's Class A, Class B and Class C Shares does not reflect sales charges, which are a maximum of 5.75%, 4.00% and 1.00%, respectively.2

Market Review: A positive period

For the six-month period ended April 30, 2010, the markets generally posted positive results. The S&P 500 Total Return Index gained 15.66% and the Dow Jones Industrial Average increased 14.87%. U.S. large cap value stocks also performed well, with the Russell 1000 Value Index gained 17.77%. The historically low interest rates set by the U.S. Federal Reserve in 2008 remained unchanged during the period. Consumer confidence improved during the six-month period (up to 57.7 from 47.7 in October 2009 as measured by the Consumer Confidence Index). The labor market strengthened with non-farm payrolls growing by 162,000 jobs in March and household unemployment decreasing to 9.7%.

Strategic Review and Outlook: A return to fundamentals

For the six-month period ended April 30, 2010, the Fund underperformed its benchmark. The Fund's biggest overweight positions were in the consumer discretionary and information technology sectors, both of which detracted from performance as a result of poor stock selection. Industrials and energy were the greatest underweights, with both sectors detracting from the Fund's performance due to sector weighting. The consumer staples sector was the biggest contributor to performance, while the consumer discretionary sector was the biggest drag.

The past six months provided a difficult environment for individual stock picks due to market volatility, although the change from a bear to a bull market provided a good environment for taking directional bets. We believe, however, that volatility gradually will become less important as investors begin to focus


1



Credit Suisse Large Cap Value Fund
Semiannual Investment Adviser's Report (continued)

April 30, 2010 (unaudited)

more on underlying fundamentals of companies. We also believe that a focus on balance sheet and earnings quality will be positively rewarded in 2010.

Credit Suisse Quantitative Equities Group

Mika Toikka
Timothy Schwider

The value of investments generally will fluctuate in response to market movements and the Fund's performance will largely depend on the performance of value stocks, which may be more volatile than the overall market.

In addition to historical information, this report contains forward-looking statements, which may concern, among other things, domestic and foreign market, industry and economic trends and developments and government regulation and their potential impact on the Fund's investments. These statements are subject to risks and uncertainties and actual trends, developments and regulations in the future, and their impact on the Fund could be materially different from those projected, anticipated or implied. The Fund has no obligation to update or revise forward-looking statements.

The Fund adopted new investment strategies effective December 1, 2006 so that its holdings are selected using quantitative stock selection models rather than a more traditional fundamental analysis approach. Investors should be aware that performance information for periods prior to December 1, 2006 does not reflect the current investment strategies.

Average Annual Returns as of March 31, 20101

    1 Year   5 Years   10 Years   Since
Inception
  Inception
Date
 
Common Class     54.01 %     2.25 %           3.56 %   08/01/00  
Advisor Class     53.18 %     1.77 %           5.00 %   06/06/03  
Class A Without
Sales Charge
    53.59 %     2.01 %     3.05 %          
Class A With Maximum
Sales Charge
    44.80 %     0.81 %     2.45 %          
Class B Without CDSC     52.42 %     1.22 %     2.27 %         02/28/96  
Class B With CDSC     48.42 %     1.22 %     2.27 %         02/28/96  
Class C Without CDSC     52.50 %     1.23 %     2.27 %         02/28/00  
Class C With CDSC     51.50 %     1.23 %     2.27 %         02/28/00  

 


2



Credit Suisse Large Cap Value Fund
Semiannual Investment Adviser's Report (continued)

April 30, 2010 (unaudited)

Average Annual Returns as of April 30, 20101

    1 Year   5 Years   10 Years   Since
Inception
  Inception
Date
 
Common Class     38.90 %     2.99 %           3.62 %   08/01/00  
Advisor Class     38.21 %     2.50 %           5.06 %   06/06/03  
Class A Without
Sales Charge
    38.51 %     2.74 %     3.05 %          
Class A With Maximum
Sales Charge
    30.57 %     1.52 %     2.44 %          
Class B Without CDSC     37.58 %     1.96 %     2.28 %         02/28/96  
Class B With CDSC     33.58 %     1.96 %     2.28 %         02/28/96  
Class C Without CDSC     37.43 %     1.96 %     2.27 %         02/28/00  
Class C With CDSC     36.43 %     1.96 %     2.27 %         02/28/00  

 

Returns represent past performance and include change in share price and reinvestment of dividends and capital gains. Past performance cannot guarantee future results. The current performance of the Fund may be lower or higher than the figures shown. Returns and share price will fluctuate, and redemption value may be more or less than original cost. The performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Performance information current to the most recent month-end is available at www.credit-suisse.com/us.

The annualized gross expense ratios are 1.09% for Common Class shares, 1.59% for Advisor Class shares, 1.34% for Class A shares, 2.09% for Class B shares and 2.09% for Class C shares. The annualized net expense ratios after fee waivers and/or expense reimbursements are 1.05% for Common Class shares, 1.55% for Advisor Class shares, 1.30% for Class A shares, 2.05% for Class B shares and 2.05% for Class C shares.

1  Fee waivers and/or expense reimbursements may reduce expenses for the Fund, without which performance would be lower. Waivers and/or reimbursements may be discontinued at any time.

2  Total return for the Fund's Class A shares for the reporting period, based on offering price (including maximum sales charge of 5.75%), was 7.53%. Total return for the Fund's Class B shares for the reporting period, based on redemption value (including maximum contingent deferred sales charge of 4.00%), was 9.70%. Total return for the Fund's Class C shares for the reporting period, based on redemption value (including maximum contingent deferred sales charge of 1.00%), was 12.63%.

3  The Russell 1000® Value Index measures the performance of those companies in the Russell 1000® Index with lower price-to-book ratios and lower forecasted growth values. It is an unmanaged index of common stocks that includes reinvestment of dividends and is compiled by Frank Russell Company. Investors cannot invest directly in an index.


3



Credit Suisse Large Cap Value Fund
Semiannual Investment Adviser's Report (continued)

April 30, 2010 (unaudited)

Information About Your Fund's Expenses

As an investor of the Fund, you incur two types of costs: ongoing expenses and transaction costs. Ongoing expenses include management fees, distribution and service (12b-1) fees and other Fund expenses. Examples of transaction costs include sales charges (loads), redemption fees and account maintenance fees, which are not shown in this section and which would result in higher total expenses. The following table is intended to help you understand your ongoing expenses of investing in the Fund and to help you compare these expenses with the ongoing expenses of investing in other mutual funds. The table is based on an investment of $1,000 made at the beginning of the six month period ended April 30, 2010.

The table illustrates your Fund's expenses in two ways:

Actual Fund Return. This helps you estimate the actual dollar amount of ongoing expenses paid on a $1,000 investment in the Fund using the Fund's actual return during the period. To estimate the expenses you paid over the period, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the "Expenses Paid per $1,000" line under the share class you hold.

Hypothetical 5% Fund Return. This helps you to compare your Fund's ongoing expenses with those of other mutual funds using the Fund's actual expense ratio and a hypothetical rate of return of 5% per year before expenses. Examples using a 5% hypothetical fund return may be found in the shareholder reports of other mutual funds. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.

Please note that the expenses shown in these tables are meant to highlight your ongoing expenses only and do not reflect any transaction costs, such as sales charges (loads) or redemption fees. If these transaction costs had been included, your costs would have been higher. The "Expenses Paid per $1,000" line of the tables is useful in comparing ongoing expenses only and will not help you determine the relative total expenses of owning different funds.


4



Credit Suisse Large Cap Value Fund
Semiannual Investment Adviser's Report (continued)

April 30, 2010 (unaudited)

Expenses and Value for a $1,000 Investment
for the six month period ended April 30, 2010

Actual Fund Return   Common
Class
  Advisor
Class
 
Class A
 
Class B
 
Class C
 
Beginning Account
Value 11/1/09
  $ 1,000.00     $ 1,000.00     $ 1,000.00     $ 1,000.00     $ 1,000.00    
Ending Account
Value 4/30/10
  $ 1,142.60     $ 1,139.70     $ 1,141.00     $ 1,137.00     $ 1,136.30    
Expenses Paid
per $1,000*
  $ 5.58     $ 8.22     $ 6.90     $ 10.86     $ 10.86    
Hypothetical 5%
Fund Return
 
Beginning Account
Value 11/1/09
  $ 1,000.00     $ 1,000.00     $ 1,000.00     $ 1,000.00     $ 1,000.00    
Ending Account
Value 4/30/10
  $ 1,019.59     $ 1,017.11     $ 1,018.35     $ 1,014.63     $ 1,014.63    
Expenses Paid
per $1,000*
  $ 5.26     $ 7.75     $ 6.51     $ 10.24     $ 10.24    
    Common
Class
  Advisor
Class
  Class A   Class B   Class C  
Annualized Expense
Ratios*
    1.05 %     1.55 %     1.30 %     2.05 %     2.05 %  

 

*  Expenses are equal to the Fund's annualized expense ratio for each share class, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half year period, then divided by 365.

  The "Expenses Paid per $1,000" and the "Annualized Expense Ratios" in the tables are based on actual expenses paid by the Fund during the period, net of fee waivers and/or expense reimbursements. If those fee waivers and/or expense reimbursements had not been in effect, the Fund's actual expenses would have been higher.

For more information, please refer to the Fund's prospectus.


5



Credit Suisse Large Cap Value Fund
Semiannual Investment Adviser's Report (continued)

April 30, 2010 (unaudited)

SECTOR BREAKDOWN*

*  Expressed as a percentage of total investments (excluding securities lending collateral if applicable) and may vary over time.


6



Credit Suisse Small Cap Core Fund
Semiannual Investment Adviser's Report

April 30, 2010 (unaudited)

  May 12, 2010

Dear Shareholder:

Performance Summary
11/01/09 – 04/30/10

Fund and Benchmark   Performance  
Common Class1      25.91 %  
Class A1,2      25.92 %  
Class B1,2      25.47 %  
Class C1,2      25.44 %  
Standard & Poor's SmallCap 600 Index3      28.14 %  

 

Performance shown for the Fund's Class A, Class B and Class C Shares does not reflect sales charges, which are a maximum of 5.75%, 4.00% and 1.00%, respectively.2

Market Review: A positive period

For the six-month period ended April 30, 2010, the markets generally posted positive results. The S&P 500 Total Return Index gained 15.66%, and the Dow Jones Industrial Average increased 14.87%. U.S. small cap stocks demonstrated even stronger performance, with the S&P SmallCap 600 Index gaining 28.14%. The historically low interest rates set by the U.S. Federal Reserve in 2008 remained unchanged during the period. Consumer confidence improved during the six-month period (up to 57.7 from 47.7 in October 2009 as measured by the Consumer Confidence Index). The labor market strengthened with non-farm payrolls growing by 162,000 jobs in March and household unemployment decreasing to 9.7%.

Strategic Review and Outlook: A return to fundamentals

For the six-month period ended April 30, 2010, the Fund underperformed its benchmark. Financials and industrials were the largest detractors from the Fund's performance due to poor sector allocation. On the other hand, the Fund's overweight positions in the consumer discretionary and information technology sectors were positive contributors to the Fund's performance.

The past six months provided a difficult environment for individual stock picks due to market volatility, although the change from a bear to a bull market provided a good environment for taking directional bets. We believe, however, that volatility gradually will become less important as investors begin to focus more on underlying fundamentals of companies. We also believe that a focus on balance sheet and earnings quality will be positively rewarded in 2010.


7



Credit Suisse Small Cap Core Fund
Semiannual Investment Adviser's Report (continued)

April 30, 2010 (unaudited)

Credit Suisse Quantitative Equities Group

Mika Toikka
Timothy Schwider

Because of the nature of the Fund's investments in special-situation, start-up and other small companies, an investment in the Fund may be more volatile and less liquid than investments in larger companies.

In addition to historical information, this report contains forward-looking statements, which may concern, among other things, domestic and foreign market, industry and economic trends and developments and government regulation and their potential impact on the Fund's investments. These statements are subject to risks and uncertainties and actual trends, developments and regulations in the future, and their impact on the Fund could be materially different from those projected, anticipated or implied. The Fund has no obligation to update or revise forward-looking statements.

The Fund adopted new investment strategies effective December 1, 2006 so that its holdings are selected using quantitative stock selection models rather than a more traditional fundamental analysis approach. Investors should be aware that performance information for periods prior to December 1, 2006 does not reflect the current investment strategies.

Average Annual Returns as of March 31, 20101

   
1 Year
 
5 Years
 
10 Years
  Since
Inception
  Inception
Date
 
Common Class     53.66 %     (0.06 )%           6.41 %   08/01/00  
Class A Without
Sales Charge
    53.55 %     (0.05 )%     6.42 %          
Class A With Maximum
Sales Charge
    44.69 %     (1.23 )%     5.80 %          
Class B Without CDSC     52.42 %     (0.80 )%     5.63 %         02/28/96  
Class B With CDSC     48.42 %     (0.80 )%     5.63 %         02/28/96  
Class C Without CDSC     52.62 %     (0.80 )%     5.63 %         02/28/00  
Class C With CDSC     51.62 %     (0.80 )%     5.63 %         02/28/00  

 


8



Credit Suisse Small Cap Core Fund
Semiannual Investment Adviser's Report (continued)

April 30, 2010 (unaudited)

Average Annual Returns as of April 30, 20101

   
1 Year
 
5 Years
 
10 Years
  Since
Inception
  Inception
Date
 
Common Class     40.22 %     2.04 %           6.90 %   08/01/00  
Class A Without
Sales Charge
    40.22 %     2.06 %     7.18 %          
Class A With Maximum
Sales Charge
    32.08 %     0.85 %     6.55 %          
Class B Without CDSC     39.25 %     1.30 %     6.38 %         02/28/96  
Class B With CDSC     35.25 %     1.30 %     6.38 %         02/28/96  
Class C Without CDSC     39.15 %     1.28 %     6.37 %         02/28/00  
Class C With CDSC     38.15 %     1.28 %     6.37 %         02/28/00  

 

Returns represent past performance and include change in share price and reinvestment of dividends and capital gains. Past performance cannot guarantee future results. The current performance of the Fund may be lower or higher than the figures shown. Returns and share price will fluctuate, and redemption value may be more or less than original cost. The performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Performance information current to the most recent month-end is available at www.credit-suisse.com/us.

The annualized gross expense ratios are 1.77% for Common Class shares, 1.76% for Class A shares, 2.52% for Class B shares and 2.51% for Class C shares. The annualized net expense ratios after fee waivers and/or expense reimbursements are 1.55% for Common Class shares, 1.55% for Class A shares, 2.30% for Class B shares and 2.30% for Class C shares.

1  Fee waivers and/or expense reimbursements may reduce expenses for the Fund, without which performance would be lower. Waivers and/or reimbursements may be discontinued at any time.

2  Total return for the Fund's Class A shares for the reporting period, based on offering price (including maximum sales charge of 5.75%), was 18.71%. Total return for the Fund's Class B shares for the reporting period, based on redemption value (including maximum contingent deferred sales charge of 4.00%), was 21.47%. Total return for the Fund's Class C shares for the reporting period, based on redemption value (including maximum contingent deferred sales charge of 1.00%), was 24.44%.

3  The Standard & Poor's SmallCap 600® Index is an unmanaged market weighted index of 600 U.S. stocks selected on the basis of capitalization, liquidity and industry group representation. It is a registered trademark of The McGraw-Hill Co., Inc. Investors cannot invest directly in an index.


9



Credit Suisse Small Cap Core Fund
Semiannual Investment Adviser's Report (continued)

April 30, 2010 (unaudited)

Information About Your Fund's Expenses

As an investor of the Fund, you incur two types of costs: ongoing expenses and transaction costs. Ongoing expenses include management fees, distribution and service (12b-1) fees and other Fund expenses. Examples of transaction costs include sales charges (loads), redemption fees and account maintenance fees, which are not shown in this section and which would result in higher total expenses. The following table is intended to help you understand your ongoing expenses of investing in the Fund and to help you compare these expenses with the ongoing expenses of investing in other mutual funds. The table is based on an investment of $1,000 made at the beginning of the six month period ended April 30, 2010.

The table illustrates your Fund's expenses in two ways:

Actual Fund Return. This helps you estimate the actual dollar amount of ongoing expenses paid on a $1,000 investment in the Fund using the Fund's actual return during the period. To estimate the expenses you paid over the period, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the "Expenses Paid per $1,000" line under the share class you hold.

Hypothetical 5% Fund Return. This helps you to compare your Fund's ongoing expenses with those of other mutual funds using the Fund's actual expense ratio and a hypothetical rate of return of 5% per year before expenses. Examples using a 5% hypothetical fund return may be found in the shareholder reports of other mutual funds. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.

Please note that the expenses shown in these tables are meant to highlight your ongoing expenses only and do not reflect any transaction costs, such as sales charges (loads) or redemption fees. If these transaction costs had been included, your costs would have been higher. The "Expenses Paid per $1,000" line of the tables is useful in comparing ongoing expenses only and will not help you determine the relative total expenses of owning different funds.


10



Credit Suisse Small Cap Core Fund
Semiannual Investment Adviser's Report (continued)

April 30, 2010 (unaudited)

Expenses and Value for a $1,000 Investment
for the six month period ended April 30, 2010

Actual Fund Return   Common
Class
  Class A   Class B   Class C  
Beginning Account
Value 11/1/09
  $ 1,000.00     $ 1,000.00     $ 1,000.00     $ 1,000.00    
Ending Account
Value 4/30/10
  $ 1,259.10     $ 1,259.20     $ 1,254.70     $ 1,254.40    
Expenses Paid per $1,000*   $ 8.68     $ 8.68     $ 12.86     $ 12.86    
Hypothetical 5%
Fund Return
 
Beginning Account
Value 11/1/09
  $ 1,000.00     $ 1,000.00     $ 1,000.00     $ 1,000.00    
Ending Account
Value 4/30/10
  $ 1,017.11     $ 1,017.11     $ 1,013.39     $ 1,013.39    
Expenses Paid per $1,000*   $ 7.75     $ 7.75     $ 11.48     $ 11.48    
    Common
Class
  Class A   Class B   Class C  
Annualized Expense Ratios*     1.55 %     1.55 %     2.30 %     2.30 %  

 

*  Expenses are equal to the Fund's annualized expense ratio for each share class, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half year period, then divided by 365.

  The "Expenses Paid per $1,000" and the "Annualized Expense Ratios" in the tables are based on actual expenses paid by the Fund during the period, net of fee waivers and/or expense reimbursements. If those fee waivers and/or expense reimbursements had not been in effect, the Fund's actual expenses would have been higher.

For more information, please refer to the Fund's prospectus.


11



Credit Suisse Small Cap Core Fund
Semiannual Investment Adviser's Report (continued)

April 30, 2010 (unaudited)

SECTOR BREAKDOWN*

*  Expressed as a percentage of total investments (excluding securities lending collateral if applicable) and may vary over time.


12




Credit Suisse Large Cap Value Fund
Schedule of Investments

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS (98.9%)  
Aerospace & Defense (0.6%)  
Alliant Techsystems, Inc.*§     221     $ 17,881    
BE Aerospace, Inc.*     100       2,971    
Cubic Corp.     51       1,903    
General Dynamics Corp.     2,300       175,628    
Honeywell International, Inc.     300       14,241    
ITT Corp.     1,400       77,798    
L-3 Communications Holdings, Inc.     1,000       93,570    
Lockheed Martin Corp.     300       25,467    
Northrop Grumman Corp.     2,200       149,226    
Raytheon Co.     900       52,470    
Spirit Aerosystems Holdings, Inc. Class A*§     500       11,090    
The Boeing Co.     5,400       391,122    
United Technologies Corp.     600       44,970    
      1,058,337    
Air Freight & Logistics (0.2%)  
FedEx Corp.     2,300       207,023    
United Parcel Service, Inc. Class B     2,900       200,506    
      407,529    
Airlines (0.6%)  
Alaska Air Group, Inc.*     23,200       960,712    
Southwest Airlines Co.     4,100       54,038    
      1,014,750    
Auto Components (1.5%)  
Autoliv, Inc.*§     35,305       1,932,949    
Johnson Controls, Inc.     7,500       251,925    
TRW Automotive Holdings Corp.*§     11,300       363,973    
      2,548,847    
Automobiles (0.2%)  
Ford Motor Co.*§     24,900       324,198    
Harley-Davidson, Inc.§     1,800       60,894    
      385,092    
Beverages (1.1%)  
Central European Distribution Corp.*§     500       17,325    
Coca-Cola Enterprises, Inc.     44,700       1,239,531    
Constellation Brands, Inc. Class A*§     1,400       25,578    
Dr. Pepper Snapple Group, Inc.     2,000       65,460    
Molson Coors Brewing Co. Class B     800       35,488    
PepsiCo, Inc.     5,433       354,340    
The Coca-Cola Co.     3,800       203,110    
      1,940,832    
Biotechnology (2.5%)  
Amgen, Inc.*     16,700       957,912    
Biogen Idec, Inc.*     5,200       276,900    

 

See Accompanying Notes to Financial Statements.
13



Credit Suisse Large Cap Value Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Biotechnology  
Cephalon, Inc.*§     40,086     $ 2,573,521    
Gilead Sciences, Inc.*     10,300       408,601    
Myriad Genetics, Inc.*§     500       12,005    
OSI Pharmaceuticals, Inc.*§     300       17,601    
      4,246,540    
Building Products (0.2%)  
Armstrong World Industries, Inc.*§     600       26,130    
Lennox International, Inc.     4,800       217,248    
Masco Corp.§     1,500       24,345    
Owens Corning*§     800       27,824    
USG Corp.*     200       4,720    
      300,267    
Capital Markets (2.2%)  
Affiliated Managers Group, Inc.*§     300       25,254    
American Capital, Ltd.*     1       6    
Ameriprise Financial, Inc.     2,000       92,720    
BlackRock, Inc.     800       147,200    
Eaton Vance Corp.     6,900       243,156    
Federated Investors, Inc. Class B§     22,100       533,052    
Franklin Resources, Inc.     900       104,076    
Greenhill & Co., Inc.§     100       8,789    
Invesco, Ltd.     3,000       68,970    
Investment Technology Group, Inc.*     100       1,737    
Legg Mason, Inc.§     1,200       38,028    
Morgan Stanley     7,700       232,694    
Raymond James Financial, Inc.     700       21,448    
State Street Corp.     1,800       78,300    
The Bank of New York Mellon Corp.     7,000       217,910    
The Goldman Sachs Group, Inc.     13,500       1,960,200    
      3,773,540    
Chemicals (2.8%)  
Air Products & Chemicals, Inc.     1,000       76,780    
Airgas, Inc.     800       50,760    
Albemarle Corp.     700       31,962    
Ashland, Inc.     41,900       2,495,564    
Cabot Corp.     700       22,778    
Celanese Corp. Series A     500       15,995    
Cytec Industries, Inc.     300       14,418    
E.I. Du Pont de Nemours & Co.     4,700       187,248    
Eastman Chemical Co.     620       41,491    
Ecolab, Inc.     200       9,768    
Huntsman Corp.     10,900       124,369    
International Flavors & Fragrances, Inc.     293       14,676    
Lubrizol Corp.     13,000       1,174,420    
NewMarket Corp.     1,200       132,000    
PPG Industries, Inc.     1,300       91,481    

 

See Accompanying Notes to Financial Statements.
14



Credit Suisse Large Cap Value Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Chemicals  
RPM International, Inc.     700     $ 15,456    
The Dow Chemical Co.     8,300       255,889    
The Scotts Miracle-Gro Co. Class A     214       10,368    
Valspar Corp.     700       21,924    
      4,787,347    
Commercial Banks (5.9%)  
Associated Banc-Corp.§     1,200       17,436    
Bancorpsouth, Inc.§     2,491       55,151    
Bank of Hawaii Corp.§     300       15,864    
BB&T Corp.     5,200       172,848    
BOK Financial Corp.§     300       16,329    
CapitalSource, Inc.     2,800       16,716    
City National Corp.§     200       12,456    
Comerica, Inc.     1,300       54,600    
Commerce Bancshares, Inc.     100       4,142    
Cullen/Frost Bankers, Inc.§     691       41,018    
Fifth Third Bancorp     5,900       87,969    
First Citizens BancShares, Inc. Class A     170       35,020    
First Horizon National Corp.*     2,058       29,120    
Fulton Financial Corp.§     3,984       41,832    
Huntington Bancshares, Inc.§     8,900       60,253    
Keycorp     7,000       63,140    
M&T Bank Corp.§     800       69,880    
Marshall & Ilsley Corp.     4,000       36,400    
PNC Financial Services Group, Inc.     4,600       309,166    
Regions Financial Corp.§     8,900       78,676    
SunTrust Banks, Inc.§     3,800       112,480    
Synovus Financial Corp.§     11,100       33,411    
TCF Financial Corp.§     800       14,904    
U.S. Bancorp     16,800       449,736    
Valley National Bancorp     1,000       16,240    
Wells Fargo & Co.     244,300       8,088,773    
Whitney Holding Corp.§     700       9,590    
Wilmington Trust Corp.§     400       6,932    
Zions Bancorporation§     1,100       31,603    
      9,981,685    
Commercial Services & Supplies (0.1%)  
Avery Dennison Corp.     700       27,321    
Cintas Corp.     1,000       27,250    
Corrections Corp. of America*     700       14,504    
Covanta Holding Corp.*§     800       13,984    
Pitney Bowes, Inc.§     1,500       38,100    
R. R. Donnelley & Sons Co.     1,500       32,235    
Republic Services, Inc.     1,900       58,957    
Waste Management, Inc.§     400       13,872    
      226,223    

 

See Accompanying Notes to Financial Statements.
15



Credit Suisse Large Cap Value Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Communications Equipment (0.7%)  
Brocade Communications Systems, Inc.*     2,100     $ 13,629    
Ciena Corp.*§     400       7,396    
CommScope, Inc.*§     600       19,548    
EchoStar Corp. Class A*     9,200       176,732    
JDS Uniphase Corp.*§     300       3,897    
Motorola, Inc.*     16,500       116,655    
Plantronics, Inc.§     300       9,960    
QUALCOMM, Inc.     19,400       751,556    
Tellabs, Inc.     3,000       27,240    
      1,126,613    
Computers & Peripherals (2.9%)  
Apple, Inc.*     300       78,336    
EMC Corp.*     13,300       252,833    
Hewlett-Packard Co.     4,100       213,077    
Lexmark International, Inc. Class A*     500       18,525    
NetApp, Inc.*     300       10,401    
SanDisk Corp.*     900       35,901    
Seagate Technology*     1,500       27,555    
Teradata Corp.*     29,700       863,379    
Western Digital Corp.*     82,877       3,405,416    
      4,905,423    
Construction & Engineering (0.1%)  
Dycom Industries, Inc.*     20       212    
Fluor Corp.     269       14,214    
KBR, Inc.     1,361       30,051    
MasTec, Inc.*§     1,400       17,514    
Quanta Services, Inc.*     1,600       32,208    
URS Corp.*     600       30,810    
      125,009    
Construction Materials (0.0%)  
Martin Marietta Materials, Inc.§     100       9,588    
Vulcan Materials Co.     1,000       57,280    
      66,868    
Consumer Finance (0.9%)  
American Express Co.     24,200       1,116,104    
AmeriCredit Corp.*     700       16,758    
Capital One Financial Corp.     5,700       247,437    
Discover Financial Services     4,200       64,932    
SLM Corp.*     2,700       33,048    
      1,478,279    
Containers & Packaging (0.1%)  
Aptargroup, Inc.     400       17,216    
Ball Corp.     200       10,642    
Bemis Co., Inc.     900       27,369    

 

See Accompanying Notes to Financial Statements.
16



Credit Suisse Large Cap Value Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Containers & Packaging  
Greif, Inc. Class A§     200     $ 11,836    
Packaging Corp. of America     700       17,311    
Pactiv Corp.*     400       10,164    
Sealed Air Corp.     1,500       32,250    
Sonoco Products Co.     700       23,191    
Temple-Inland, Inc.     1,000       23,320    
      173,299    
Distributors (0.0%)  
Genuine Parts Co.     1,200       51,360    
Diversified Consumer Services (1.6%)  
Corinthian Colleges, Inc.*§     71,500       1,116,830    
DeVry, Inc.     700       43,673    
H&R Block, Inc.     73,400       1,343,954    
ITT Educational Services, Inc.*§     2,200       222,486    
Service Corp. International     1,400       12,572    
      2,739,515    
Diversified Financial Services (5.7%)  
Bank of America Corp.     161,044       2,871,415    
Citigroup, Inc.*     523,500       2,287,695    
CME Group, Inc.     800       262,728    
Interactive Brokers Group, Inc. Class A*§     1,000       17,140    
JPMorgan Chase & Co.     82,900       3,529,882    
Leucadia National Corp.*§     800       20,248    
NYSE Euronext     19,000       619,970    
The NASDAQ OMX Group, Inc.*     500       10,500    
      9,619,578    
Diversified Telecommunication Services (1.7%)  
AT&T, Inc.     73,205       1,907,722    
CenturyTel, Inc.§     2,400       81,864    
Frontier Communications Corp.§     1,300       10,348    
Qwest Communications International, Inc.     45,400       237,442    
Verizon Communications, Inc.     20,600       595,134    
Windstream Corp.§     1,700       18,785    
      2,851,295    
Electric Utilities (0.9%)  
Allegheny Energy, Inc.§     900       19,602    
American Electric Power Co., Inc.     3,600       123,480    
DPL, Inc.     700       19,726    
Duke Energy Corp.     9,600       161,088    
Edison International     2,600       89,362    
Entergy Corp.     1,700       138,193    
Exelon Corp.     4,800       209,232    
FirstEnergy Corp.§     4,300       162,841    
FPL Group, Inc.     2,800       145,740    
Great Plains Energy, Inc.     900       17,397    

 

See Accompanying Notes to Financial Statements.
17



Credit Suisse Large Cap Value Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Electric Utilities  
Hawaiian Electric Industries, Inc.§     900     $ 21,015    
Northeast Utilities     1,200       33,348    
NV Energy, Inc.     1,000       12,490    
Pepco Holdings, Inc.     1,600       26,784    
Pinnacle West Capital Corp.     900       33,606    
Progress Energy, Inc.     2,200       87,824    
Southern Co.     5,700       196,992    
Westar Energy, Inc.     700       16,583    
      1,515,303    
Electrical Equipment (1.2%)  
Emerson Electric Co.     200       10,446    
First Solar, Inc.*§     100       14,355    
General Cable Corp.*§     68,485       1,956,616    
Hubbell, Inc. Class B     200       9,294    
Rockwell Automation, Inc.     1,100       66,792    
Thomas & Betts Corp.*     400       16,776    
      2,074,279    
Electronic Equipment, Instruments & Components (0.9%)  
Arrow Electronics, Inc.*     500       15,250    
Avnet, Inc.*     700       22,379    
Corning, Inc.     2,000       38,500    
Ingram Micro, Inc. Class A*     1,400       25,424    
Jabil Circuit, Inc.     67,800       1,038,696    
Molex, Inc.§     1,100       24,651    
Tech Data Corp.*     600       25,740    
Vishay Intertechnology, Inc.*     34,200       356,022    
      1,546,662    
Energy Equipment & Services (2.4%)  
Baker Hughes, Inc.§     3,101       154,291    
Diamond Offshore Drilling, Inc.§     2,900       229,390    
Dresser-Rand Group, Inc.*     9,301       328,139    
FMC Technologies, Inc.*     10,300       697,207    
Halliburton Co.     6,700       205,355    
Helix Energy Solutions Group, Inc.*     62,600       912,708    
Helmerich & Payne, Inc.     500       20,310    
Nabors Industries, Ltd.*§     2,200       47,454    
National-Oilwell Varco, Inc.     14,700       647,241    
Oceaneering International, Inc.*     200       13,100    
Oil States International, Inc.*     300       14,493    
Patterson-UTI Energy, Inc.§     1,000       15,290    
Pride International, Inc.*     700       21,231    
Rowan Cos., Inc.*§     900       26,820    
Schlumberger, Ltd.     9,200       657,064    
SEACOR Holdings, Inc.*§     100       8,417    
Seahawk Drilling, Inc.*§     6       100    
Smith International, Inc.     700       33,432    

 

See Accompanying Notes to Financial Statements.
18



Credit Suisse Large Cap Value Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Energy Equipment & Services  
Superior Energy Services, Inc.*     600     $ 16,236    
Tidewater, Inc.§     700       37,527    
Unit Corp.*§     300       14,331    
      4,100,136    
Food & Staples Retailing (0.2%)  
BJ's Wholesale Club, Inc.*§     300       11,484    
CVS Caremark Corp.     7,500       276,975    
Safeway, Inc.     3,021       71,296    
SUPERVALU, Inc.§     1,700       25,330    
The Kroger Co.     900       20,007    
      405,092    
Food Products (1.3%)  
Archer-Daniels-Midland Co.     2,260       63,145    
Bunge, Ltd.     3,900       206,505    
Campbell Soup Co.     400       14,344    
ConAgra Foods, Inc.     3,500       85,645    
Corn Products International, Inc.     500       18,000    
Del Monte Foods Co.     1,400       20,916    
General Mills, Inc.     1,600       113,888    
H.J. Heinz Co.     701       32,856    
Hormel Foods Corp.§     700       28,532    
Kellogg Co.     300       16,482    
Kraft Foods, Inc. Class A     10,800       319,680    
Lancaster Colony Corp.§     600       32,982    
Mead Johnson Nutrition Co.     15,900       820,599    
Ralcorp Holdings, Inc.*     400       26,620    
Sara Lee Corp.§     4,500       63,990    
Smithfield Foods, Inc.*§     1,200       22,488    
The Hershey Co.     5,430       255,264    
The J.M. Smucker Co.     1,000       61,070    
Tyson Foods, Inc. Class A     2,900       56,811    
      2,259,817    
Gas Utilities (0.1%)  
AGL Resources, Inc.     500       19,755    
Atmos Energy Corp.     600       17,748    
Energen Corp.     500       24,435    
National Fuel Gas Co.     700       36,414    
ONEOK, Inc.     900       44,226    
Questar Corp.     1,300       62,335    
UGI Corp.     1,100       30,239    
      235,152    
Health Care Equipment & Supplies (0.3%)  
Boston Scientific Corp.*     7,135       49,089    
CareFusion Corp.*     5,400       148,932    
Hill-Rom Holdings, Inc.     100       3,171    

 

See Accompanying Notes to Financial Statements.
19



Credit Suisse Large Cap Value Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Health Care Equipment & Supplies  
Hologic, Inc.*     1,700     $ 30,379    
Inverness Medical Innovations, Inc.*§     300       11,934    
Kinetic Concepts, Inc.*§     500       21,650    
STERIS Corp.§     400       13,312    
Stryker Corp.     300       17,232    
The Cooper Cos., Inc.§     300       11,667    
Thoratec Corp.*§     300       13,377    
Zimmer Holdings, Inc.*     1,700       103,547    
      424,290    
Health Care Providers & Services (4.1%)  
Aetna, Inc.     3,000       88,650    
AmerisourceBergen Corp.     100       3,085    
Brookdale Senior Living, Inc.*     100       2,150    
Cardinal Health, Inc.     2,700       93,663    
CIGNA Corp.     2,000       64,120    
Community Health Systems, Inc.*§     700       28,602    
Coventry Health Care, Inc.*     1,000       23,740    
Health Net, Inc.*     1,000       22,020    
Henry Schein, Inc.*§     300       18,141    
Humana, Inc.*     39,900       1,824,228    
LifePoint Hospitals, Inc.*§     300       11,454    
Lincare Holdings, Inc.*§     300       14,007    
McKesson Corp.     1,000       64,810    
Medco Health Solutions, Inc.*     800       47,136    
Mednax, Inc.*     200       10,988    
Omnicare, Inc.     600       16,674    
Tenet Healthcare Corp.*     2,800       17,500    
UnitedHealth Group, Inc.     8,800       266,728    
Universal Health Services, Inc. Class B     500       18,560    
WellPoint, Inc.*     78,928       4,246,326    
      6,882,582    
Hotels, Restaurants & Leisure (0.4%)  
Boyd Gaming Corp.*     100       1,270    
Carnival Corp.     1,900       79,230    
Darden Restaurants, Inc.     208       9,308    
Hyatt Hotels Corp. Class A*§     500       20,585    
Las Vegas Sands Corp.*     300       7,458    
Marriott International, Inc. Class A§     800       29,408    
MGM Mirage*§     700       11,123    
Panera Bread Co. Class A*§     102       7,950    
Penn National Gaming, Inc.*     300       9,288    
Royal Caribbean Cruises, Ltd.*§     2,800       100,352    
Starbucks Corp.     1,500       38,970    
Starwood Hotels & Resorts Worldwide, Inc.     1,300       70,863    
The Cheesecake Factory, Inc.*§     400       10,868    
Wendy's/Arby's Group, Inc. Class A     6,700       35,577    
Wyndham Worldwide Corp.     5,000       134,050    

 

See Accompanying Notes to Financial Statements.
20



Credit Suisse Large Cap Value Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Hotels, Restaurants & Leisure  
Wynn Resorts, Ltd.     500     $ 44,120    
Yum! Brands, Inc.     300       12,726    
      623,146    
Household Durables (0.3%)  
D.R. Horton, Inc.§     2,000       29,380    
Fortune Brands, Inc.     1,100       57,662    
Garmin, Ltd.§     700       26,166    
Harman International Industries, Inc.*     300       11,844    
Jarden Corp.     600       19,272    
KB Home§     300       5,559    
Leggett & Platt, Inc.§     921       22,592    
Lennar Corp. Class A§     1,200       23,880    
Mohawk Industries, Inc.*§     400       25,496    
Newell Rubbermaid, Inc.§     2,000       34,140    
NVR, Inc.*§     100       71,805    
Pulte Group, Inc.*§     2,500       32,725    
Stanley Black & Decker, Inc.     1,110       68,987    
Toll Brothers, Inc.*§     1,200       27,084    
Whirlpool Corp.     600       65,322    
      521,914    
Household Products (0.3%)  
Colgate-Palmolive Co.     200       16,820    
Kimberly-Clark Corp.     700       42,882    
The Procter & Gamble Co.     7,600       472,416    
      532,118    
Independent Power Producers & Energy Traders (3.0%)  
Calpine Corp.*     900       12,267    
Constellation Energy Group, Inc.     139,800       4,941,930    
Mirant Corp.*     1,578       18,399    
RRI Energy, Inc.*§     10,500       42,735    
The AES Corp.*     1,200       13,848    
      5,029,179    
Industrial Conglomerates (1.9%)  
3M Co.     300       26,601    
Carlisle Cos., Inc.     300       11,319    
General Electric Co.     169,600       3,198,656    
Textron, Inc.§     2,100       47,964    
      3,284,540    
Insurance (4.0%)  
Allied World Assurance Co. Holdings, Ltd.     1,500       65,355    
American Financial Group, Inc.     600       17,658    
American International Group, Inc.*§     8,300       322,870    
American National Insurance Co.     100       11,016    
AON Corp.     2,200       93,412    

 

See Accompanying Notes to Financial Statements.
21



Credit Suisse Large Cap Value Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Insurance  
Arch Capital Group, Ltd.*     1,400     $ 105,812    
Aspen Insurance Holdings, Ltd.     2,600       70,148    
Assurant, Inc.     800       29,144    
Axis Capital Holdings, Ltd.     2,900       90,393    
Chubb Corp.     2,800       148,036    
Cincinnati Financial Corp.§     1,400       39,760    
CNA Financial Corp.*§     400       11,248    
Endurance Specialty Holdings, Ltd.     100       3,685    
Erie Indemnity Co. Class A§     906       41,957    
Everest Re Group, Ltd.     1,900       145,635    
Fidelity National Financial, Inc. Class A     1,500       22,770    
First American Corp.     900       31,113    
Genworth Financial, Inc. Class A*     146,500       2,420,180    
Hanover Insurance Group, Inc.     500       22,525    
Hartford Financial Services Group, Inc.     6,300       179,991    
HCC Insurance Holdings, Inc.     1,100       29,909    
Lincoln National Corp.     1,900       58,121    
Loews Corp.     2,604       96,973    
Marsh & McLennan Cos., Inc.     3,500       84,770    
MBIA, Inc.*§     57,100       547,018    
MetLife, Inc.     4,300       195,994    
Old Republic International Corp.     1,800       27,018    
OneBeacon Insurance Group, Ltd. Class A§     600       9,732    
PartnerRe, Ltd.     2,400       186,192    
Principal Financial Group, Inc.     13,900       406,158    
Protective Life Corp.     700       16,849    
Prudential Financial, Inc.     1,800       114,408    
Reinsurance Group of America, Inc.§     400       20,652    
RenaissanceRe Holdings, Ltd.     1,800       100,710    
StanCorp Financial Group, Inc.§     500       22,480    
The Allstate Corp.     4,100       133,947    
The Progressive Corp.     4,800       96,432    
The Travelers Cos., Inc.     5,500       279,070    
Torchmark Corp.§     600       32,124    
Transatlantic Holdings, Inc.     324       16,113    
Unitrin, Inc.§     638       18,661    
Unum Group     2,600       63,622    
Validus Holdings, Ltd.     2,500       63,925    
W.R. Berkley Corp.§     700       18,900    
Wesco Financial Corp.     100       37,905    
White Mountains Insurance Group, Ltd.     200       68,720    
XL Capital, Ltd. Class A     7,600       135,280    
      6,754,391    
Internet & Catalog Retail (1.0%)  
Amazon.com, Inc.*     100       13,706    
Expedia, Inc.     61,000       1,440,210    
Liberty Media Corp. - Interactive Class A*     5,000       76,850    

 

See Accompanying Notes to Financial Statements.
22



Credit Suisse Large Cap Value Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Internet & Catalog Retail  
priceline.com, Inc.*     400     $ 104,820    
      1,635,586    
Internet Software & Services (0.9%)  
AOL, Inc.*     14,263       333,184    
eBay, Inc.*     30,700       730,967    
Google, Inc. Class A*     300       157,632    
Monster Worldwide, Inc.*§     200       3,486    
Sohu.com, Inc.*§     6,300       303,345    
Yahoo!, Inc.*     300       4,959    
      1,533,573    
IT Services (0.9%)  
Amdocs, Ltd.*     4,800       153,312    
Broadridge Financial Solutions, Inc.     512       12,191    
Computer Sciences Corp.*     1,200       62,868    
Convergys Corp.*§     300       3,792    
Global Payments, Inc.     269       11,516    
International Business Machines Corp.     300       38,700    
Mastercard, Inc. Class A     2,100       520,884    
SAIC, Inc.*     700       12,187    
The Western Union Co.     34,000       620,500    
      1,435,950    
Leisure Equipment & Products (0.1%)  
Hasbro, Inc.     800       30,688    
Mattel, Inc.     3,900       89,895    
      120,583    
Life Sciences Tools & Services (0.1%)  
PerkinElmer, Inc.     600       15,030    
Thermo Fisher Scientific, Inc.*     3,000       165,840    
Waters Corp.*     254       18,285    
      199,155    
Machinery (0.8%)  
AGCO Corp.*§     700       24,514    
Bucyrus International, Inc.     700       44,107    
Caterpillar, Inc.     2,300       156,607    
Cummins, Inc.     1,100       79,453    
Danaher Corp.     700       58,996    
Deere & Co.     2,600       155,532    
Dover Corp.     400       20,888    
Eaton Corp.     1,300       100,308    
Gardner Denver, Inc.     376       18,909    
Illinois Tool Works, Inc.     3,500       178,850    
Kennametal, Inc.§     500       16,430    
Lincoln Electric Holdings, Inc.     300       17,982    
Oshkosh Corp.*     2,500       96,550    

 

See Accompanying Notes to Financial Statements.
23



Credit Suisse Large Cap Value Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Machinery  
Parker Hannifin Corp.     1,300     $ 89,934    
Pentair, Inc.§     500       18,080    
Snap-on, Inc.     300       14,454    
SPX Corp.     300       20,964    
Terex Corp.*§     800       21,216    
The Manitowoc Co., Inc.§     5,300       74,253    
The Timken Co.     1,000       35,180    
Toro Co.§     300       17,082    
Trinity Industries, Inc.§     700       17,423    
WABCO Holdings, Inc.*     275       9,127    
      1,286,839    
Marine (0.0%)  
Alexander & Baldwin, Inc.§     400       14,232    
Kirby Corp.*§     300       12,624    
      26,856    
Media (4.8%)  
Cablevision Systems Corp. Group A     1,500       41,160    
CBS Corp. Class B     4,800       77,808    
Central European Media Enterprises, Ltd. Class A*     1,100       37,400    
Clear Channel Outdoor Holdings, Inc. Class A*§     1,300       15,054    
Comcast Corp. Class A     23,900       471,786    
CTC Media, Inc.     3,100       52,359    
DIRECTV Class A*     12,900       467,367    
DISH Network Corp. Class A     63,200       1,399,880    
DreamWorks Animation SKG, Inc. Class A*     700       27,783    
Gannett Co., Inc.     145,000       2,467,900    
Interpublic Group of Cos., Inc.*     4,100       36,531    
John Wiley & Sons, Inc. Class A     344       14,541    
Lamar Advertising Co. Class A*     400       14,888    
Liberty Global, Inc. Class A*§     2,100       57,561    
Liberty Media Corp. - Capital Series A*§     16,800       743,736    
Liberty Media Corp. - Starz Series A*     1,280       70,899    
Madison Square Garden, Inc.*     475       9,856    
News Corp. Class A     17,900       276,018    
Scripps Networks Interactive, Inc. Class A     300       13,602    
The McGraw-Hill Cos., Inc.     5,900       198,948    
The New York Times Co. Class A*§     700       6,944    
The Walt Disney Co.     13,949       513,881    
The Washington Post Co. Class B     100       50,716    
Time Warner Cable, Inc.     2,800       157,500    
Time Warner, Inc.     16,200       535,896    
Viacom, Inc. Class B*     3,900       137,787    
Virgin Media, Inc.§     8,800       154,792    
Warner Music Group Corp.*     100       685    
      8,053,278    

 

See Accompanying Notes to Financial Statements.
24



Credit Suisse Large Cap Value Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Metals & Mining (3.4%)  
AK Steel Holding Corp.§     900     $ 15,075    
Alcoa, Inc.§     3,900       52,416    
Allegheny Technologies, Inc.§     800       42,776    
Carpenter Technology Corp.     400       15,708    
Cliffs Natural Resources, Inc.     900       56,277    
Commercial Metals Co.     800       11,904    
Freeport-McMoRan Copper & Gold, Inc.     69,200       5,226,676    
Nucor Corp.     2,400       108,768    
Reliance Steel & Aluminum Co.     700       34,167    
Royal Gold, Inc.     300       15,354    
Southern Copper Corp.     300       9,174    
Steel Dynamics, Inc.     1,700       26,707    
Titanium Metals Corp.*     200       3,084    
United States Steel Corp.     1,100       60,126    
      5,678,212    
Multi-Utilities (0.7%)  
Alliant Energy Corp.§     800       27,360    
Ameren Corp.     1,900       49,324    
CenterPoint Energy, Inc.     100       1,436    
CMS Energy Corp.§     2,200       35,772    
Consolidated Edison, Inc.     2,200       99,440    
Dominion Resources, Inc.     4,400       183,920    
DTE Energy Co.     1,400       67,438    
Integrys Energy Group, Inc.§     400       19,844    
MDU Resources Group, Inc.     1,300       27,560    
NiSource, Inc.     2,400       39,120    
NSTAR§     1,038       37,991    
OGE Energy Corp.     600       24,828    
PG&E Corp.     2,900       127,020    
Public Service Enterprise Group, Inc.     4,084       131,219    
SCANA Corp.     800       31,576    
Sempra Energy     1,924       94,622    
TECO Energy, Inc.     1,600       27,088    
Vectren Corp.§     500       12,505    
Wisconsin Energy Corp.     800       42,008    
Xcel Energy, Inc.     3,500       76,125    
      1,156,196    
Multiline Retail (2.1%)  
99 Cents Only Stores*§     300       4,656    
Big Lots, Inc.*§     800       30,560    
Dollar Tree, Inc.*     800       48,576    
Family Dollar Stores, Inc.§     400       15,824    
J.C. Penney Co., Inc.     1,700       49,589    
Kohl's Corp.*     3,500       192,465    
Macy's, Inc.     112,400       2,607,680    
Nordstrom, Inc.     13,100       541,423    
Sears Holdings Corp.*§     500       60,475    

 

See Accompanying Notes to Financial Statements.
25



Credit Suisse Large Cap Value Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Multiline Retail  
Target Corp.     438     $ 24,909    
      3,576,157    
Office Electronics (0.1%)  
Xerox Corp.     8,361       91,135    
Oil, Gas & Consumable Fuels (12.2%)  
Anadarko Petroleum Corp.     3,800       236,208    
Apache Corp.     2,600       264,576    
Arch Coal, Inc.     1,200       32,400    
Cabot Oil & Gas Corp.     800       28,904    
Chesapeake Energy Corp.     4,600       109,480    
Chevron Corp.     27,300       2,223,312    
Cimarex Energy Co.     700       47,656    
CNX Gas Corp.*§     2,700       103,329    
Cobalt International Energy, Inc.*     1,300       14,963    
Comstock Resources, Inc.*§     400       12,824    
Concho Resources, Inc.*§     600       34,092    
ConocoPhillips     11,100       657,009    
Consol Energy, Inc.     3,600       160,848    
Continental Resources, Inc.*§     27,400       1,346,984    
Denbury Resources, Inc.*§     2,745       52,567    
Devon Energy Corp.     3,300       222,189    
El Paso Corp.     3,800       45,980    
Enterprise Products Partners LP     14,400       510,624    
EOG Resources, Inc.     2,100       235,452    
EXCO Resources, Inc.     18,800       348,740    
Exxon Mobil Corp.     77,500       5,258,375    
Forest Oil Corp.*     500       14,650    
Frontline, Ltd.§     1,600       58,400    
Hess Corp.     2,200       139,810    
Marathon Oil Corp.     5,400       173,610    
Murphy Oil Corp.     1,400       84,210    
Newfield Exploration Co.*     1,300       75,647    
Noble Energy, Inc.     1,300       99,320    
Occidental Petroleum Corp.     76,700       6,800,222    
Overseas Shipholding Group, Inc.§     300       15,018    
Pioneer Natural Resources Co.§     800       51,304    
Plains Exploration & Production Co.*     500       14,655    
Range Resources Corp.§     1,200       57,312    
SandRidge Energy, Inc.*§     1,100       8,261    
Southern Union Co.     800       20,904    
Spectra Energy Corp.     4,700       109,698    
St. Mary Land & Exploration Co.§     300       12,072    
Sunoco, Inc.     900       29,502    
Teekay Corp.     800       20,040    
Tesoro Corp.§     30,300       398,445    
The Williams Cos., Inc.     4,600       108,606    
Valero Energy Corp.     4,200       87,318    

 

See Accompanying Notes to Financial Statements.
26



Credit Suisse Large Cap Value Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Oil, Gas & Consumable Fuels  
Whiting Petroleum Corp.*     400     $ 36,132    
XTO Energy, Inc.     4,600       218,592    
      20,580,240    
Paper & Forest Products (1.8%)  
Domtar Corp.*     100       7,084    
International Paper Co.     107,500       2,874,550    
MeadWestvaco Corp.     1,400       38,038    
Schweitzer-Mauduit International, Inc.§     95       5,407    
Weyerhaeuser Co.     1,700       84,184    
      3,009,263    
Personal Products (2.0%)  
NBTY, Inc.*     10,000       406,800    
The Estee Lauder Cos., Inc. Class A     45,500       2,999,360    
      3,406,160    
Pharmaceuticals (5.2%)  
Bristol-Myers Squibb Co.     15,600       394,524    
Eli Lilly & Co.     4,100       143,377    
Endo Pharmaceuticals Holdings, Inc.*     100,600       2,203,140    
Forest Laboratories, Inc.*     43,000       1,172,180    
Johnson & Johnson     4,700       302,210    
King Pharmaceuticals, Inc.*     71,200       697,760    
Medicis Pharmaceutical Corp. Class A§     47,068       1,194,586    
Merck & Co., Inc.     25,661       899,161    
Mylan, Inc.*§     15,300       337,059    
Pfizer, Inc.     77,897       1,302,438    
Teva Pharmaceutical Industries, Ltd. ADR     3,022       177,482    
Watson Pharmaceuticals, Inc.*     800       34,256    
      8,858,173    
Professional Services (0.0%)  
Manpower, Inc.     600       33,660    
Verisk Analytics, Inc. Class A*     800       22,416    
      56,076    
Real Estate Investment Trusts (2.5%)  
Alexandria Real Estate Equities, Inc.§     300       21,243    
AMB Property Corp.     1,100       30,646    
Annaly Capital Management, Inc.     147,200       2,495,040    
Apartment Investment & Management Co. Class A§     904       20,259    
AvalonBay Communities, Inc.§     531       55,245    
Boston Properties, Inc.     1,100       86,746    
Brandywine Realty Trust     900       11,466    
BRE Properties, Inc.     300       12,528    
Camden Property Trust§     400       19,372    
Chimera Investment Corp.     20,000       81,400    
Corporate Office Properties Trust§     300       12,135    
Cousins Properties, Inc.     1       8    

 

See Accompanying Notes to Financial Statements.
27



Credit Suisse Large Cap Value Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Real Estate Investment Trusts  
Douglas Emmett, Inc.     900     $ 15,066    
Duke Realty Corp.§     1,700       23,001    
EastGroup Properties, Inc.§     200       8,176    
Equity Residential     2,200       99,594    
Essex Property Trust, Inc.§     300       31,746    
Federal Realty Investment Trust§     300       23,217    
HCP, Inc.     1,600       51,392    
Health Care REIT, Inc.     600       26,958    
Hospitality Properties Trust§     1,200       31,788    
Host Hotels & Resorts, Inc.§     4,714       76,650    
HRPT Properties Trust     1,600       12,544    
Kimco Realty Corp.     3,000       46,770    
Liberty Property Trust     800       27,048    
Mack-Cali Realty Corp.     500       17,180    
Nationwide Health Properties, Inc.     400       14,008    
Plum Creek Timber Co., Inc.§     800       31,840    
ProLogis§     3,500       46,095    
Public Storage     279       27,038    
Rayonier, Inc.§     3,438       168,393    
Realty Income Corp.§     700       22,953    
Regency Centers Corp.§     600       24,630    
Senior Housing Properties Trust     1,200       26,976    
Simon Property Group, Inc.     1,433       127,566    
SL Green Realty Corp.     600       37,302    
Taubman Centers, Inc.     300       13,011    
The Macerich Co.§     654       29,240    
UDR, Inc.§     1,130       22,950    
Ventas, Inc.     1,300       61,399    
Vornado Realty Trust     1,619       134,976    
Walter Investment Management Corp.§     36       653    
Weingarten Realty Investors§     700       16,184    
      4,142,432    
Real Estate Management & Development (0.0%)  
Altisource Portfolio Solutions SA*§     33       797    
Forest City Enterprises, Inc. Class A*§     500       7,725    
Jones Lang LaSalle, Inc.     300       23,664    
      32,186    
Road & Rail (0.3%)  
CSX Corp.     3,000       168,150    
Hertz Global Holdings, Inc.*§     1,500       21,690    
Kansas City Southern*     300       12,165    
Landstar System, Inc.     286       12,647    
Norfolk Southern Corp.     2,500       148,325    
Ryder System, Inc.     323       15,026    
Union Pacific Corp.     1,900       143,754    
      521,757    

 

See Accompanying Notes to Financial Statements.
28



Credit Suisse Large Cap Value Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Semiconductors & Semiconductor Equipment (2.6%)  
Advanced Micro Devices, Inc.*     2,200     $ 19,932    
Altera Corp.     13,700       347,432    
Applied Materials, Inc.     10,100       139,178    
Atmel Corp.*     9,600       52,224    
Broadcom Corp. Class A     11,100       382,839    
Fairchild Semiconductor International, Inc.*     700       7,854    
Integrated Device Technology, Inc.*     1,400       9,254    
Intel Corp.     88,600       2,022,738    
International Rectifier Corp.*§     100       2,302    
Intersil Corp. Class A     300       4,464    
KLA-Tencor Corp.     1,400       47,684    
Linear Technology Corp.§     400       12,024    
LSI Corp.*     5,100       30,702    
Marvell Technology Group, Ltd.*     1,600       33,040    
Maxim Integrated Products, Inc.     800       15,536    
Micron Technology, Inc.*§     5,900       55,165    
National Semiconductor Corp.     8,100       119,718    
Novellus Systems, Inc.*§     9,100       238,420    
PMC-Sierra, Inc.*     1,500       13,275    
Texas Instruments, Inc.     600       15,606    
Xilinx, Inc.     30,600       788,868    
      4,358,255    
Software (0.4%)  
Activision Blizzard, Inc.     53,100       588,348    
Autodesk, Inc.*     700       23,807    
CA, Inc.     800       18,248    
Compuware Corp.*     2,400       20,640    
Microsoft Corp.     700       21,378    
Novell, Inc.*     3,500       19,635    
Red Hat, Inc.*     400       11,948    
Symantec Corp.*     800       13,416    
Synopsys, Inc.*     100       2,271    
      719,691    
Specialty Retail (1.8%)  
Aaron's, Inc.§     350       7,900    
Abercrombie & Fitch Co. Class A     300       13,119    
Advance Auto Parts, Inc.     13,138       592,524    
Aeropostale, Inc.*§     24,775       719,451    
AutoNation, Inc.*§     700       14,140    
Barnes & Noble, Inc.§     500       11,020    
Best Buy Co., Inc.     800       36,480    
CarMax, Inc.*§     500       12,285    
Collective Brands, Inc.*     800       18,760    
Foot Locker, Inc.     300       4,605    
GameStop Corp. Class A*§     500       12,155    
Home Depot, Inc.     11,900       419,475    
Lowe's Cos., Inc.     7,500       203,400    

 

See Accompanying Notes to Financial Statements.
29



Credit Suisse Large Cap Value Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Specialty Retail  
Ltd Brands, Inc.§     600     $ 16,080    
Office Depot, Inc.*     1,800       12,348    
Penske Auto Group, Inc.*§     3,500       52,430    
RadioShack Corp.     4,600       99,130    
Ross Stores, Inc.§     3,400       190,400    
The Gap, Inc.     4,100       101,393    
The Gymboree Corp.*§     300       14,739    
TJX Cos., Inc.     300       13,902    
Williams-Sonoma, Inc.§     14,000       403,200    
      2,968,936    
Textiles, Apparel & Luxury Goods (0.5%)  
NIKE, Inc. Class B     427       32,414    
Phillips-Van Heusen Corp.     300       18,903    
Polo Ralph Lauren Corp.     200       17,980    
Skechers U.S.A., Inc. Class A*     17,300       663,455    
The Warnaco Group, Inc.*     1,900       90,896    
VF Corp.     400       34,568    
      858,216    
Thrifts & Mortgage Finance (0.1%)  
First Niagara Financial Group, Inc.     1,200       16,680    
Hudson City Bancorp, Inc.     1,500       19,950    
New York Community Bancorp, Inc.§     2,900       47,763    
People's United Financial, Inc.     2,600       40,378    
TFS Financial Corp.§     200       2,828    
Washington Federal, Inc.     600       12,342    
      139,941    
Tobacco (0.1%)  
Lorillard, Inc.     200       15,674    
Philip Morris International, Inc.     200       9,816    
Reynolds American, Inc.     1,300       69,446    
      94,936    
Trading Companies & Distributors (0.1%)  
MSC Industrial Direct Co., Inc. Class A     1,576       85,876    
WESCO International, Inc.*§     400       16,248    
      102,124    
Water Utilities (0.0%)  
American Water Works Co., Inc.     200       4,356    
Aqua America, Inc.§     900       16,497    
      20,853    
Wireless Telecommunication Services (1.5%)  
Crown Castle International Corp.*     1,500       56,775    
NII Holdings, Inc.*     45,300       1,921,626    
Sprint Nextel Corp.*§     83,000       352,750    

 

See Accompanying Notes to Financial Statements.
30



Credit Suisse Large Cap Value Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Wireless Telecommunication Services  
Syniverse Holdings, Inc.*§     500     $ 10,040    
Telephone & Data Systems, Inc.     2,300       79,718    
United States Cellular Corp.*     1,600       67,328    
      2,488,237    
TOTAL COMMON STOCKS (Cost $152,603,056)     167,147,825    
SHORT-TERM INVESTMENTS (11.3%)  
State Street Navigator Prime Portfolio§§     16,791,510       16,791,510    
    Par
(000)
 
 
State Street Bank and Trust Co. Euro Time Deposit, 0.010%, 05/03/10   $ 2,264       2,264,000    
TOTAL SHORT-TERM INVESTMENTS (Cost $19,055,510)     19,055,510    
TOTAL INVESTMENTS AT VALUE (110.2%) (Cost $171,658,566)     186,203,335    
LIABILITIES IN EXCESS OF OTHER ASSETS (-10.2%)     (17,184,151 )  
NET ASSETS (100.0%)   $ 169,019,184    

 

INVESTMENT ABBREVIATION

ADR = American Depositary Receipt

*  Non-income producing security.

§  Security or portion thereof is out on loan.

§§  Represents security purchased with cash collateral received for securities on loan.

See Accompanying Notes to Financial Statements.
31



Credit Suisse Small Cap Core Fund
Schedule of Investments

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS (98.8%)  
Aerospace & Defense (1.2%)  
AAR Corp.*§     2,300     $ 56,074    
Aerovironment, Inc.*§     900       23,562    
American Science and Engineering, Inc.     2,000       150,300    
Applied Signal Technology, Inc.§     3,300       61,677    
Ceradyne, Inc.*     1,600       35,520    
Cubic Corp.§     5,096       190,132    
Curtiss-Wright Corp.§     2,500       89,175    
Esterline Technologies Corp.*§     1,600       89,248    
GenCorp, Inc.*§     12,300       76,506    
ITT Corp.     100       5,557    
Moog, Inc. Class A*     2,600       96,642    
Orbital Sciences Corp.*§     3,300       60,654    
Stanley, Inc.*     900       28,467    
Teledyne Technologies, Inc.*     2,000       87,200    
Triumph Group, Inc.     1,000       77,560    
      1,128,274    
Air Freight & Logistics (0.2%)  
Atlas Air Worldwide Holdings, Inc.*     100       5,527    
Forward Air Corp.§     2,600       72,852    
HUB Group, Inc. Class A*     2,100       67,221    
      145,600    
Airlines (2.2%)  
Alaska Air Group, Inc.*     44,752       1,853,180    
Allegiant Travel Co.*     1,000       51,430    
Continental Airlines, Inc. Class B*     4,900       109,515    
Skywest, Inc.     5,100       76,398    
      2,090,523    
Auto Components (0.5%)  
Autoliv, Inc.*§     1,600       87,600    
Cooper Tire & Rubber Co.§     7,200       152,784    
Drew Industries, Inc.*§     1,700       43,605    
Spartan Motors, Inc.§     7,000       43,190    
Standard Motor Products, Inc.§     4,200       44,772    
Superior Industries International, Inc.     7,100       119,706    
      491,657    
Automobiles (0.3%)  
Winnebago Industries, Inc.*§     18,200       302,666    
Beverages (0.0%)  
The Boston Beer Co., Inc. Class A*§     800       45,608    
Biotechnology (1.0%)  
Alexion Pharmaceuticals, Inc.*     1,000       54,880    
Arqule, Inc.*§     6,400       40,768    
Cepheid, Inc.*§     1,900       37,981    
Cubist Pharmaceuticals, Inc.*     3,436       77,035    

 

See Accompanying Notes to Financial Statements.
32



Credit Suisse Small Cap Core Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Biotechnology  
Emergent Biosolutions, Inc.*§     19,100     $ 310,948    
Martek Biosciences Corp.*§     2,100       46,263    
Regeneron Pharmaceuticals, Inc.*§     10,533       268,908    
Savient Pharmaceuticals, Inc.*§     5,100       73,950    
      910,733    
Building Products (2.7%)  
AAON, Inc.§     2,700       65,178    
Ameron International Corp.§     100       6,939    
Apogee Enterprises, Inc.§     6,200       85,188    
Armstrong World Industries, Inc.*§     18,800       818,740    
Gibraltar Industries, Inc.*     6,900       103,638    
Griffon Corp.*§     19,134       269,789    
Lennox International, Inc.     11,000       497,860    
NCI Building Systems, Inc.*§     3,800       52,364    
Quanex Building Products Corp.§     8,500       161,500    
Simpson Manufacturing Co., Inc.§     10,700       363,693    
Universal Forest Products, Inc.§     4,400       185,020    
      2,609,909    
Capital Markets (0.8%)  
Greenhill & Co., Inc.§     100       8,789    
Investment Technology Group, Inc.*§     6,290       109,257    
LaBranche & Co., Inc.*§     9,800       48,412    
optionsXpress Holdings, Inc.*§     2,500       44,375    
Piper Jaffray Cos.*§     7,000       275,520    
Stifel Financial Corp.*§     1,700       97,461    
SWS Group, Inc.     5,900       65,313    
TradeStation Group, Inc.*§     8,100       67,716    
      716,843    
Chemicals (3.0%)  
A. Schulman, Inc.§     5,876       152,835    
American Vanguard Corp.§     5,000       40,500    
Arch Chemicals, Inc.§     1,400       47,614    
Ashland, Inc.     24,300       1,447,308    
Balchem Corp.§     6,450       167,313    
Calgon Carbon Corp.*§     3,534       54,777    
H.B. Fuller Co.     2,800       65,660    
Lubrizol Corp.     100       9,034    
NewMarket Corp.     4,200       462,000    
OM Group, Inc.*§     1,800       67,950    
PolyOne Corp.*§     9,000       101,790    
Quaker Chemical Corp.§     2,314       72,821    
Stepan Co.§     1,700       128,775    
Zep, Inc.§     4,800       88,512    
      2,906,889    

 

See Accompanying Notes to Financial Statements.
33



Credit Suisse Small Cap Core Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Commercial Banks (4.5%)  
Bank of the Ozarks, Inc.§     4,500     $ 173,115    
Boston Private Financial Holdings, Inc.§     14,400       114,192    
City Holding Co.§     900       31,536    
Columbia Banking System, Inc.§     6,500       146,120    
Community Bank System, Inc.§     2,200       54,274    
East West Bancorp, Inc.§     5,930       116,169    
First Bancorp§     14,400       30,528    
First Commonwealth Financial Corp.§     17,640       115,542    
First Financial Bancorp§     10,100       193,011    
First Financial Bankshares, Inc.§     8,947       478,485    
First Midwest Bancorp, Inc.§     10,150       154,280    
FNB Corp.§     6,300       58,716    
Fulton Financial Corp.§     5,800       60,900    
Glacier Bancorp, Inc.§     4,030       74,515    
Hancock Holding Co.§     1,600       65,408    
Home Bancshares, Inc.§     1,100       30,932    
Independent Bank Corp./MA§     4,700       121,918    
M&T Bank Corp.§     17       1,485    
Nara Bancorp, Inc.*§     7,200       64,800    
National Penn Bancshares, Inc.§     23,200       169,824    
NBT Bancorp, Inc.§     2,400       58,728    
Old National Bancorp§     7,000       93,870    
Pinnacle Financial Partners, Inc.*§     2,900       44,312    
PrivateBancorp, Inc.§     9,100       130,312    
Prosperity Bancshares, Inc.§     400       15,688    
S&T Bancorp, Inc.§     10,600       254,930    
Signature Bank*§     2,200       88,836    
Simmons First National Corp. Class A§     3,500       98,280    
Sterling Bancorp§     5,700       61,047    
Sterling Bancshares, Inc.§     22,125       130,095    
Susquehanna Bancshares, Inc.§     16,300       177,670    
Tompkins Financial Corp.§     1,980       80,428    
Trustmark Corp.§     300       7,344    
UMB Financial Corp.§     1,700       71,604    
Umpqua Holdings Corp.§     10,975       163,966    
United Bankshares, Inc.§     3,800       110,352    
United Community Banks, Inc.*§     19,102       111,556    
Webster Financial Corp.§     8,800       182,336    
Western Alliance Bancorp*§     83       722    
Whitney Holding Corp.§     5,300       72,610    
Wilshire Bancorp, Inc.§     4,400       47,784    
Wintrust Financial Corp.§     2,100       78,330    
      4,336,550    
Commercial Services & Supplies (2.4%)  
ABM Industries, Inc.§     2,520       54,155    
ATC Technology Corp.*§     8,400       171,696    
Bowne & Co., Inc.§     22,500       251,550    
Consolidated Graphics, Inc.*§     10,459       438,337    

 

See Accompanying Notes to Financial Statements.
34



Credit Suisse Small Cap Core Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Commercial Services & Supplies  
G&K Services, Inc. Class A§     4,186     $ 115,073    
Healthcare Services Group, Inc.§     7,300       156,877    
Interface, Inc. Class A§     18,500       241,980    
Mine Safety Appliances Co.§     3,000       88,170    
Mobile Mini, Inc.*§     8,000       132,960    
SYKES Enterprises, Inc.*§     16,200       368,226    
Tetra Tech., Inc.*     3,700       90,095    
The Geo Group, Inc.*§     3,200       67,776    
The Standard Register Co.§     3,000       15,450    
United Stationers, Inc.*     1,500       91,830    
Viad Corp.§     1,500       35,100    
      2,319,275    
Communications Equipment (1.1%)  
Acme Packet, Inc.*     4,900       128,086    
Arris Group, Inc.*     8,084       99,353    
Bel Fuse, Inc. Class B§     2,548       59,674    
Black Box Corp.     2,200       68,618    
Blue Coat Systems, Inc.*§     2,400       78,072    
CommScope, Inc.*     1,300       42,354    
Comtech Telecommunications Corp.*§     1,700       53,108    
Digi International, Inc.*§     4,900       52,479    
EMS Technologies, Inc.*§     3,700       58,793    
Emulex Corp.*     700       8,225    
Harmonic, Inc.*     5,800       39,672    
Netgear, Inc.*§     2,300       62,238    
Network Equipment Technologies, Inc.*§     6,500       33,345    
PC-Tel, Inc.*§     1,900       12,369    
Plantronics, Inc.§     200       6,640    
Symmetricom, Inc.*§     10,600       70,278    
Tekelec*§     3,600       65,268    
Viasat, Inc.*§     2,300       81,535    
      1,020,107    
Computers & Peripherals (1.5%)  
3PAR, Inc.*§     400       3,732    
Adaptec, Inc.*§     26,900       83,121    
Avid Technology, Inc.*§     9,000       131,400    
Compellent Technologies, Inc.*§     5,100       64,107    
Hutchinson Technology, Inc.*§     5,400       32,886    
Intermec, Inc.*§     5,200       59,644    
Intevac, Inc.*§     4,700       65,424    
Lexmark International, Inc. Class A*§     14,000       518,700    
Novatel Wireless, Inc.*§     7,600       52,060    
SanDisk Corp.*     2,500       99,725    
Stratasys, Inc.*     4,400       104,896    
Synaptics, Inc.*§     2,760       84,511    
Teradata Corp.*     3,500       101,745    
      1,401,951    

 

See Accompanying Notes to Financial Statements.
35



Credit Suisse Small Cap Core Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Construction & Engineering (0.4%)  
Comfort Systems USA, Inc.§     8,100     $ 114,048    
Dycom Industries, Inc.*     8,700       92,394    
EMCOR Group, Inc.*§     3,600       102,816    
Insituform Technologies, Inc. Class A*     4,000       95,880    
Orion Marine Group, Inc.*§     100       1,896    
      407,034    
Construction Materials (0.2%)  
Eagle Materials, Inc.§     2,400       76,488    
Headwaters, Inc.*     12,200       73,200    
Texas Industries, Inc.§     1,582       59,863    
      209,551    
Consumer Finance (0.3%)  
Cash America International, Inc.§     1,700       63,002    
EZCORP, Inc. Class A*     2,900       60,059    
First Cash Financial Services, Inc.*     2,600       57,356    
World Acceptance Corp.*§     3,600       127,008    
      307,425    
Containers & Packaging (0.3%)  
Myers Industries, Inc.§     6,100       66,246    
Rock-Tenn Co. Class A§     2,100       108,360    
Temple-Inland, Inc.     4,100       95,612    
      270,218    
Distributors (0.0%)  
Audiovox Corp. Class A*§     2,200       20,482    
Diversified Consumer Services (2.3%)  
American Public Education, Inc.*§     1,100       46,585    
Capella Education Co.*§     800       72,496    
Career Education Corp.*§     2,700       79,029    
Coinstar, Inc.*§     1,800       79,848    
Corinthian Colleges, Inc.*§     104,900       1,638,538    
DeVry, Inc.§     100       6,239    
H&R Block, Inc.     300       5,493    
Hillenbrand, Inc.     3,516       86,423    
ITT Educational Services, Inc.*§     500       50,565    
Lincoln Educational Services Corp.*     100       2,496    
Pre-Paid Legal Services, Inc.*§     1,500       66,705    
Regis Corp.§     100       1,912    
Universal Technical Institute, Inc.*     4,500       107,820    
      2,244,149    
Diversified Financial Services (0.6%)  
Interactive Brokers Group, Inc. Class A*§     16,500       282,810    
MSCI, Inc. Class A*     200       6,930    
PHH Corp.*     10,200       231,438    

 

See Accompanying Notes to Financial Statements.
36



Credit Suisse Small Cap Core Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Diversified Financial Services  
Portfolio Recovery Associates, Inc.*§     1,000     $ 66,470    
      587,648    
Diversified Telecommunication Services (0.6%)  
Cbeyond, Inc.*§     5,800       89,204    
Consolidated Communications Holdings, Inc.§     1,900       35,245    
General Communication, Inc. Class A*§     6,100       37,515    
Iowa Telecommunications Services, Inc.§     2,100       35,364    
Neutral Tandem, Inc.*§     19,600       332,220    
Premiere Global Services, Inc.*§     2,300       21,551    
      551,099    
Electric Utilities (0.3%)  
Allete, Inc.§     1,600       58,352    
Central Vermont Public Service Corp.§     2,500       54,525    
El Paso Electric Co.*§     2,400       51,000    
UIL Holdings Corp.     1,700       49,351    
Unisource Energy Corp.§     2,100       69,972    
      283,200    
Electrical Equipment (2.3%)  
A.O. Smith Corp.     1,300       67,119    
Acuity Brands, Inc.§     2,300       103,983    
AZZ, Inc.§     700       28,434    
Baldor Electric Co.§     2,200       84,502    
Belden, Inc.     10,400       285,584    
Brady Corp. Class A§     2,900       99,644    
Encore Wire Corp.§     1,100       24,431    
EnerSys*     500       12,940    
General Cable Corp.*     48,500       1,385,645    
II-VI, Inc.*§     1,900       68,134    
Powell Industries, Inc.*§     400       13,432    
Regal-Beloit Corp.§     100       6,327    
Vicor Corp.*§     4,400       66,528    
      2,246,703    
Electronic Equipment, Instruments & Components (3.5%)  
Agilysys, Inc.§     4,700       50,995    
Anixter International, Inc.*§     1,600       83,840    
Benchmark Electronics, Inc.*     3,416       73,922    
Brightpoint, Inc.*§     29,400       237,846    
Checkpoint Systems, Inc.*§     5,100       115,209    
Cognex Corp.     6,400       133,824    
CTS Corp.     7,300       76,650    
Daktronics, Inc.§     7,900       66,202    
DTS, Inc.*§     3,800       126,312    
Electro Scientific Industries, Inc.*§     5,900       81,243    
FARO Technologies, Inc.*§     3,700       93,277    
Gerber Scientific, Inc.*§     5,500       39,600    

 

See Accompanying Notes to Financial Statements.
37



Credit Suisse Small Cap Core Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Electronic Equipment, Instruments & Components  
Insight Enterprises, Inc.*§     9,900     $ 148,797    
Jabil Circuit, Inc.§     18,600       284,952    
Littelfuse, Inc.*§     4,400       185,812    
Mercury Computer Systems, Inc.*§     5,100       65,586    
Methode Electronics, Inc.§     7,900       87,690    
MTS Systems Corp.§     3,700       110,519    
Newport Corp.*§     8,100       95,823    
Park Electrochemical Corp.§     4,400       132,924    
Plexus Corp.*     2,500       92,625    
Radisys Corp.*§     5,400       52,866    
Rogers Corp.*§     3,600       120,492    
Sanmina-SCI Corp.*     11,600       206,828    
Scansource, Inc.*§     1,600       44,576    
SYNNEX Corp.*§     1,200       32,904    
Tech Data Corp.*     145       6,221    
Technitrol, Inc.     9,300       50,220    
TTM Technologies, Inc.*§     9,600       104,256    
Vishay Intertechnology, Inc.*     35,100       365,391    
      3,367,402    
Energy Equipment & Services (3.8%)  
Bristow Group, Inc.*§     2,100       81,291    
CARBO Ceramics, Inc.§     1,105       80,941    
Complete Production Services, Inc.*§     53,100       801,279    
Dresser-Rand Group, Inc.*§     215       7,585    
Dril-Quip, Inc.*§     1,700       98,481    
FMC Technologies, Inc.*     1,700       115,073    
Global Industries, Ltd.*§     44,958       301,219    
Gulf Island Fabrication, Inc.     2,800       67,116    
Helix Energy Solutions Group, Inc.*     64,300       937,494    
Hornbeck Offshore Services, Inc.*§     1,300       31,811    
ION Geophysical Corp.*     25,800       155,058    
Lufkin Industries, Inc.§     900       76,617    
Matrix Service Co.*     5,900       62,717    
Oil States International, Inc.*     2,700       130,437    
Pioneer Drilling Co.*     11,866       87,096    
Rowan Cos., Inc.*§     12,800       381,440    
SEACOR Holdings, Inc.*§     1,240       104,371    
Superior Well Services, Inc.*§     4,100       59,450    
Tetra Technologies, Inc.*§     5,000       61,450    
      3,640,926    
Food & Staples Retailing (0.6%)  
Casey's General Stores, Inc.§     2,800       108,164    
Great Atlantic & Pacific Tea Co.*§     17,400       140,070    
Nash Finch Co.§     900       31,518    
Spartan Stores, Inc.§     1,400       21,126    
The Andersons, Inc.     4,181       151,101    
United Natural Foods, Inc.*§     2,500       76,725    

 

See Accompanying Notes to Financial Statements.
38



Credit Suisse Small Cap Core Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Food & Staples Retailing  
Weis Markets, Inc.§     100     $ 3,728    
      532,432    
Food Products (2.6%)  
Cal-Maine Foods, Inc.     700       23,366    
Calavo Growers, Inc.§     2,600       45,084    
Chiquita Brands International, Inc.*§     49,100       738,464    
Darling International, Inc.*     11,300       107,237    
Diamond Foods, Inc.§     1,700       72,607    
J & J Snack Foods Corp.§     5,900       274,881    
Lancaster Colony Corp.§     14,002       769,690    
Lance, Inc.     5,900       136,762    
Mead Johnson Nutrition Co.     2,488       128,406    
Sanderson Farms, Inc.§     1,200       68,004    
The Hain Celestial Group, Inc.*§     2,400       47,472    
TreeHouse Foods, Inc.*§     2,000       84,580    
      2,496,553    
Gas Utilities (0.5%)  
New Jersey Resources Corp.§     2,200       83,006    
Nicor, Inc.§     100       4,351    
Northwest Natural Gas Co.§     1,400       66,346    
Piedmont Natural Gas Co., Inc.§     3,800       104,500    
South Jersey Industries, Inc.§     1,600       72,176    
Southwest Gas Corp.     2,500       77,750    
The Laclede Group, Inc.     1,200       40,896    
WGL Holdings, Inc.§     100       3,574    
      452,599    
Health Care Equipment & Supplies (2.9%)  
Abaxis, Inc.*§     4,900       126,959    
Align Technology, Inc.*§     31,600       536,568    
American Medical Systems Holdings, Inc.*§     8,000       143,360    
Analogic Corp.     800       38,256    
Cantel Medical Corp.§     3,000       59,880    
Conmed Corp.*§     1,800       40,032    
CryoLife, Inc.*§     6,900       42,159    
Cyberonics, Inc.*§     5,205       101,654    
ev3, Inc.*     6,800       130,084    
Greatbatch, Inc.*§     11,240       251,102    
Haemonetics Corp.*§     1,400       81,004    
ICU Medical, Inc.*     1,000       35,610    
Immucor, Inc.*§     400       8,564    
Integra LifeSciences Holdings*     1,200       54,516    
Invacare Corp.§     2,500       66,075    
Kensey Nash Corp.*§     2,600       58,890    
Meridian Bioscience, Inc.§     5,200       103,948    
Merit Medical Systems, Inc.*§     6,300       101,871    
Natus Medical, Inc.*§     6,300       107,352    

 

See Accompanying Notes to Financial Statements.
39



Credit Suisse Small Cap Core Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Health Care Equipment & Supplies  
Neogen Corp.*§     5,250     $ 138,022    
Palomar Medical Technologies, Inc.*§     4,400       55,264    
SurModics, Inc.*§     3,900       72,540    
Symmetry Medical, Inc.*§     7,800       90,168    
The Cooper Cos., Inc.§     2,400       93,336    
West Pharmaceutical Services, Inc.§     1,800       75,330    
Zoll Medical Corp.*     4,700       143,585    
      2,756,129    
Health Care Providers & Services (4.6%)  
Air Methods Corp.*§     2,300       76,084    
Almost Family, Inc.*§     1,785       75,613    
Amedisys, Inc.*§     1,700       97,886    
AMERIGROUP Corp.*§     2,900       105,096    
AMN Healthcare Services, Inc.*§     7,000       63,980    
Amsurg Corp.*§     1,800       37,296    
Bio-Reference Laboratories, Inc.*§     5,000       117,000    
Catalyst Health Solutions, Inc.*     2,104       89,020    
Centene Corp.*§     2,855       65,379    
Chemed Corp.§     1,300       71,513    
Corvel Corp.*§     1,500       49,950    
Cross Country Healthcare, Inc.*§     7,310       73,246    
Genoptix, Inc.*§     4,600       177,974    
Gentiva Health Services, Inc.*§     4,420       126,766    
Hanger Orthopedic Group, Inc.*§     7,000       130,480    
Healthspring, Inc.*     2,715       47,784    
Healthways, Inc.*     7,100       115,659    
HMS Holdings Corp.*§     1,500       80,250    
Humana, Inc.*     5,200       237,744    
inVentiv Health, Inc.*     7,400       170,422    
IPC The Hospitalist Co.*     3,100       96,224    
Laboratory Corp. of America Holdings*§     100       7,857    
Landauer, Inc.§     1,800       122,670    
LCA-Vision, Inc.*§     3,900       32,877    
LHC Group, Inc.*§     16,600       566,060    
Magellan Health Services, Inc.*     1,894       79,946    
Medcath Corp.*§     4,300       42,742    
Mednax, Inc.*§     2,600       142,844    
Molina Healthcare, Inc.*§     900       26,253    
MWI Veterinary Supply, Inc.*     2,700       113,265    
Odyssey HealthCare, Inc.*     7,400       154,142    
PharMerica Corp.*§     31,000       598,300    
PSS World Medical, Inc.*§     3,400       79,662    
RehabCare Group, Inc.*     1,586       45,233    
Res-Care, Inc.*§     5,950       69,258    
WellCare Health Plans, Inc.*     8,300       237,629    
      4,424,104    

 

See Accompanying Notes to Financial Statements.
40



Credit Suisse Small Cap Core Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Health Care Technology (0.4%)  
Computer Programs & Systems, Inc.§     2,100     $ 94,626    
Eclipsys Corp.*§     3,800       78,584    
Omnicell, Inc.*§     7,000       93,450    
Phase Forward, Inc.*     3,700       62,197    
Quality Systems, Inc.§     1,147       73,419    
      402,276    
Hotels, Restaurants & Leisure (3.2%)  
Ameristar Casinos, Inc.§     3,900       73,437    
BJ's Restaurants, Inc.*§     4,500       108,585    
Bob Evans Farms, Inc.     15,600       482,508    
Brinker International, Inc.     800       14,816    
Buffalo Wild Wings, Inc.*§     812       33,568    
California Pizza Kitchen, Inc.*     5,500       112,750    
CEC Entertainment, Inc.*§     1,300       50,765    
CKE Restaurants, Inc.     4,400       54,296    
Cracker Barrel Old Country Store, Inc.§     1,400       69,118    
DineEquity, Inc.*§     20,000       822,600    
Interval Leisure Group, Inc.*§     9,200       136,068    
Jack in the Box, Inc.*§     2,900       68,208    
Landry's Restaurants, Inc.*§     2,000       46,180    
Marcus Corp.§     4,600       59,110    
Multimedia Games, Inc.*§     6,100       27,877    
O'Charley's, Inc.*§     4,600       43,930    
P.F. Chang's China Bistro, Inc.*     1,300       56,732    
Papa John's International, Inc.*     1,200       32,880    
Peet's Coffee & Tea, Inc.*§     3,000       118,860    
Pinnacle Entertainment, Inc.*     13,700       185,361    
Red Robin Gourmet Burgers, Inc.*§     3,400       82,994    
Ruby Tuesday, Inc.*§     14,100       157,779    
Ruth's Hospitality Group, Inc.*     6,000       32,580    
Shuffle Master, Inc.*§     12,000       115,200    
Sonic Corp.*§     3,500       40,985    
Texas Roadhouse, Inc. Class A*§     3,000       44,340    
The Cheesecake Factory, Inc.*§     300       8,151    
      3,079,678    
Household Durables (2.0%)  
American Greetings Corp. Class A§     700       17,192    
Blyth, Inc.§     2,900       167,156    
Ethan Allen Interiors, Inc.     9,500       191,900    
Helen of Troy, Ltd.*§     6,700       180,967    
Kid Brands, Inc.*§     3,600       35,892    
La-Z-Boy, Inc.*§     51,100       666,344    
Leggett & Platt, Inc.§     636       15,601    
M/I Homes, Inc.*§     4,000       62,400    
Meritage Homes Corp.*§     3,400       80,852    
National Presto Industries, Inc.§     1,200       134,364    
Skyline Corp.§     1,600       37,296    

 

See Accompanying Notes to Financial Statements.
41



Credit Suisse Small Cap Core Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Household Durables  
Standard Pacific Corp.*§     20,700     $ 132,687    
Tempur-Pedic International, Inc.*     300       10,110    
Universal Electronics, Inc.*     1,800       38,196    
Whirlpool Corp.     1,600       174,192    
      1,945,149    
Household Products (0.2%)  
Central Garden & Pet Co. Class A*§     14,000       144,620    
WD-40 Co.§     2,000       70,460    
      215,080    
Independent Power Producers & Energy Traders (0.2%)  
Constellation Energy Group, Inc.     4,200       148,470    
Industrial Conglomerates (0.2%)  
Standex International Corp.     2,748       65,595    
Tredegar Corp.     8,100       138,186    
      203,781    
Insurance (1.5%)  
American Physicians Capital, Inc.§     1,800       60,192    
AMERISAFE, Inc.*     3,900       66,690    
Delphi Financial Group, Inc. Class A§     2,800       77,000    
eHealth, Inc.*§     2,300       31,533    
Employers Holdings, Inc.     6,200       102,176    
Infinity Property & Casualty Corp.     2,500       115,325    
National Financial Partners Corp.*§     9,200       141,588    
Navigators Group, Inc.*     900       36,117    
Presidential Life Corp.§     2,348       27,659    
ProAssurance Corp.*§     1,800       109,710    
RLI Corp.§     900       52,200    
Safety Insurance Group, Inc.     1,912       71,299    
Selective Insurance Group, Inc.     18,690       312,310    
Stewart Information Services Corp.     4,200       47,796    
Tower Group, Inc.§     2,500       57,650    
United Fire & Casualty Co.§     2,575       58,890    
Zenith National Insurance Corp.§     2,300       86,986    
      1,455,121    
Internet & Catalog Retail (0.9%)  
Blue Nile, Inc.*§     900       48,591    
Expedia, Inc.§     15,900       375,399    
HSN, Inc.*§     8,700       262,131    
NutriSystem, Inc.§     1,700       32,861    
PetMed Express, Inc.§     5,100       112,914    
      831,896    

 

See Accompanying Notes to Financial Statements.
42



Credit Suisse Small Cap Core Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Internet Software & Services (0.8%)  
comScore, Inc.*     5,200     $ 94,380    
DealerTrack Holdings, Inc.*§     5,900       89,975    
Infospace, Inc.*§     7,700       80,619    
j2 Global Communications, Inc.*§     2,500       60,200    
Open Text Corp.*§     28       1,180    
Perficient, Inc.*§     6,400       79,808    
Sohu.com, Inc.*§     2,000       96,300    
Stamps.com, Inc.*§     2,900       30,740    
The Knot, Inc.*§     6,300       51,093    
United Online, Inc.§     11,500       91,655    
ValueClick, Inc.*§     10,900       112,052    
      788,002    
IT Services (2.9%)  
CACI International, Inc. Class A*§     1,600       75,888    
Ciber, Inc.*§     16,800       66,696    
CSG Systems International, Inc.*§     15,061       342,186    
Cybersource Corp.*     4,500       115,560    
Fidelity National Information Services, Inc.     11,200       294,448    
Forrester Research, Inc.*     2,200       70,642    
Gartner, Inc.*§     19,419       467,610    
Global Cash Access Holdings, Inc.*     12,430       107,892    
Heartland Payment Systems, Inc.§     2,100       38,598    
Integral Systems, Inc.*§     3,900       34,008    
MAXIMUS, Inc.     1,000       61,910    
NCI, Inc. Class A*§     1,500       42,615    
NeuStar, Inc. Class A*§     400       9,788    
StarTek, Inc.*§     1,300       8,814    
TeleTech Holdings, Inc.*§     2,000       33,100    
VeriFone Holdings, Inc.*§     50,100       953,403    
Wright Express Corp.*§     2,185       74,224    
      2,797,382    
Leisure Equipment & Products (1.5%)  
Arctic Cat, Inc.*§     2,700       39,825    
Brunswick Corp.§     20,800       434,720    
Callaway Golf Co.§     33,700       316,443    
Jakks Pacific, Inc.*§     22,700       347,083    
Polaris Industries, Inc.§     2,000       118,340    
Pool Corp.     2,700       66,231    
RC2 Corp.*     4,600       84,502    
Sturm, Ruger & Co., Inc.§     4,100       68,429    
      1,475,573    
Life Sciences Tools & Services (0.6%)  
Cambrex Corp.*§     7,200       31,608    
Dionex Corp.*§     3,900       318,123    
Enzo Biochem, Inc.*§     8,100       48,357    
eResearchTechnology, Inc.*§     9,300       68,541    

 

See Accompanying Notes to Financial Statements.
43



Credit Suisse Small Cap Core Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Life Sciences Tools & Services  
Kendle International, Inc.*§     3,500     $ 57,925    
Paraxel International Corp.*     3,700       87,246    
      611,800    
Machinery (3.1%)  
Actuant Corp. Class A§     3,900       89,427    
Albany International Corp. Class A§     3,400       86,598    
Astec Industries, Inc.*§     1,200       39,744    
Badger Meter, Inc.§     6,000       248,160    
Barnes Group, Inc.§     2,500       52,000    
Briggs & Stratton Corp.§     4,000       94,960    
Cascade Corp.§     2,700       94,122    
CIRCOR International, Inc.§     2,300       79,258    
CLARCOR, Inc.     2,800       105,896    
Colfax Corp.*§     1,200       15,660    
Donaldson Co., Inc.§     3,200       148,160    
EnPro Industries, Inc.*§     4,700       148,426    
ESCO Technologies, Inc.§     5,100       157,335    
Gardner Denver, Inc.     3,000       150,870    
Graco, Inc.§     11,100       384,948    
John Bean Technologies Corp.§     6,300       115,731    
Kaydon Corp.§     1,900       79,097    
Lindsay Corp.§     3,269       124,320    
Lydall, Inc.*     1,900       15,314    
Mueller Industries, Inc.§     2,100       62,265    
Oshkosh Corp.*     9,500       366,890    
Robbins & Myers, Inc.§     1,982       51,354    
Tennant Co.§     730       25,178    
The Middleby Corp.*§     200       12,224    
Toro Co.§     1,900       108,186    
WABCO Holdings, Inc.*     155       5,144    
Watts Water Technologies, Inc. Class A§     3,300       117,084    
      2,978,351    
Media (1.1%)  
Arbitron, Inc.§     1,500       46,215    
Dolan Media Co.*     1,400       16,646    
E.W. Scripps Co. Class A*§     7,500       82,050    
Harte-Hanks, Inc.§     1,165       16,776    
John Wiley & Sons, Inc. Class A§     319       13,484    
Liberty Media Corp. - Capital Series A*     8,100       358,587    
Live Nation, Inc.*§     29,426       461,694    
Scholastic Corp.§     1,500       40,515    
Valassis Communications, Inc.*     300       9,807    
World Wrestling Entertainment, Inc. Class A§     1,200       21,900    
      1,067,674    

 

See Accompanying Notes to Financial Statements.
44



Credit Suisse Small Cap Core Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Metals & Mining (0.5%)  
A.M. Castle & Co.*§     3,900     $ 53,508    
AMCOL International Corp.§     1,400       40,236    
Brush Engineered Materials, Inc.*     4,600       136,758    
Century Aluminum Co.*§     3,700       49,876    
Hecla Mining Co.*§     5,400       32,238    
Olympic Steel, Inc.§     2,000       63,560    
Reliance Steel & Aluminum Co.     100       4,881    
RTI International Metals, Inc.*§     1,700       45,985    
Worthington Industries, Inc.§     2,055       32,818    
      459,860    
Multi-Utilities (0.3%)  
Avista Corp.§     3,200       69,216    
CH Energy Group, Inc.§     3,414       141,408    
NorthWestern Corp.§     1,800       54,396    
NSTAR§     150       5,490    
      270,510    
Multiline Retail (1.1%)  
99 Cents Only Stores*     3,412       52,954    
Big Lots, Inc.*     100       3,820    
Fred's, Inc. Class A§     26,000       361,140    
Macy's, Inc.     25,800       598,560    
Nordstrom, Inc.§     100       4,133    
Tuesday Morning Corp.*§     7,300       41,245    
      1,061,852    
Oil, Gas & Consumable Fuels (1.6%)  
ATP Oil & Gas Corp.*§     17,500       319,550    
Brigham Exploration Co.*     33,900       661,389    
Consol Energy, Inc.     200       8,936    
Holly Corp.§     2,300       62,100    
Penn Virginia Corp.§     2,700       68,877    
Petroleum Development Corp.*     1,300       30,433    
Petroquest Energy, Inc.*§     11,600       68,556    
St. Mary Land & Exploration Co.§     3,500       140,840    
Stone Energy Corp.*§     2,500       40,750    
Swift Energy Co.*§     2,200       79,596    
World Fuel Services Corp.§     3,200       90,976    
      1,572,003    
Paper & Forest Products (0.6%)  
Buckeye Technologies, Inc.*     14,487       204,557    
Clearwater Paper Corp.*§     1,300       82,784    
Deltic Timber Corp.§     2,000       105,240    
Neenah Paper, Inc.§     2,000       35,000    
Schweitzer-Mauduit International, Inc.§     1,020       58,058    
Wausau Paper Corp.*§     9,100       80,535    
      566,174    

 

See Accompanying Notes to Financial Statements.
45



Credit Suisse Small Cap Core Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Personal Products (0.0%)  
The Estee Lauder Cos., Inc. Class A     600     $ 39,552    
Pharmaceuticals (3.6%)  
Endo Pharmaceuticals Holdings, Inc.*     3,900       85,410    
Medicis Pharmaceutical Corp. Class A     112,614       2,858,143    
Mylan, Inc.*§     200       4,406    
Par Pharmaceutical Cos., Inc.*     1,900       51,566    
Salix Pharmaceuticals, Ltd.*§     3,000       120,600    
Viropharma, Inc.*§     23,591       300,078    
      3,420,203    
Professional Services (0.9%)  
Administaff, Inc.§     3,200       70,848    
CDI Corp.§     3,200       55,776    
Exponent, Inc.*§     3,000       89,430    
Heidrick & Struggles International, Inc.     3,800       100,358    
Kelly Services, Inc. Class A*§     5,900       94,872    
Navigant Consulting, Inc.*     2,000       25,760    
On Assignment, Inc.*§     8,600       60,458    
School Specialty, Inc.*§     3,500       82,110    
SFN Group, Inc.*     10,000       85,500    
TrueBlue, Inc.*§     9,900       156,321    
Volt Information Sciences, Inc.*§     3,000       37,620    
      859,053    
Real Estate Investment Trusts (5.2%)  
Acadia Realty Trust§     2,912       55,561    
American Campus Communities, Inc.§     10,300       290,151    
BioMed Realty Trust, Inc.§     14,400       266,544    
CBL & Associates Properties, Inc.     3,400       49,640    
Cedar Shopping Centers, Inc.     11,200       89,152    
Colonial Properties Trust§     6,600       104,082    
Cousins Properties, Inc.§     3,959       31,910    
Developers Diversified Realty Corp.     29,700       365,013    
DiamondRock Hospitality Co.*§     20,191       221,899    
DuPont Fabros Technology, Inc.     1,100       24,387    
EastGroup Properties, Inc.§     1,500       61,320    
Entertainment Properties Trust     3,400       148,648    
Equity Lifestyle Properties, Inc.     3,000       166,530    
Extra Space Storage, Inc.§     14,000       210,280    
Franklin Street Properties Corp.§     15,700       231,418    
Hatteras Financial Corp.§     300       8,001    
Healthcare Realty Trust, Inc.§     5,500       132,770    
Home Properties, Inc.§     2,600       129,194    
Inland Real Estate Corp.§     19,500       183,690    
Kilroy Realty Corp.§     2,700       94,662    
Kite Realty Group Trust     14,900       80,758    
LaSalle Hotel Properties§     3,800       100,130    
Lexington Realty Trust§     24,469       173,241    

 

See Accompanying Notes to Financial Statements.
46



Credit Suisse Small Cap Core Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Real Estate Investment Trusts  
LTC Properties, Inc.     5,300     $ 147,870    
Medical Properties Trust, Inc.§     18,600       186,930    
Mid-America Apartment Communities, Inc.§     1,700       93,959    
National Retail Properties, Inc.§     4,500       105,885    
Nationwide Health Properties, Inc.§     200       7,004    
Parkway Properties, Inc.§     4,900       96,530    
Pennsylvania Real Estate Investment Trust§     8,900       140,531    
Post Properties, Inc.§     3,000       77,280    
Potlatch Corp.§     13,720       513,951    
PS Business Parks, Inc.§     1,400       84,000    
Rayonier, Inc.§     278       13,616    
Sovran Self Storage, Inc.§     2,100       77,469    
Sunstone Hotel Investors, Inc.*     900       11,457    
Tanger Factory Outlet Centers, Inc.§     2,400       99,840    
Urstadt Biddle Properties, Class A§     4,700       79,242    
      4,954,545    
Real Estate Management & Development (0.2%)  
Forestar Group, Inc.*§     8,100       182,574    
Road & Rail (0.3%)  
Arkansas Best Corp.§     1,500       45,690    
Heartland Express, Inc.§     3,100       51,274    
Knight Transportation, Inc.§     3,357       71,470    
Landstar System, Inc.§     181       8,004    
Marten Transport, Ltd.*     1,500       32,775    
Old Dominion Freight Line, Inc.*§     1,700       60,996    
      270,209    
Semiconductors & Semiconductor Equipment (5.9%)  
Actel Corp.*§     5,800       90,016    
Advanced Energy Industries, Inc.*     7,700       113,344    
Altera Corp.§     29,900       758,264    
ATMI, Inc.*§     4,700       85,211    
Brooks Automation, Inc.*§     14,700       142,884    
Cabot Microelectronics Corp.*§     1,400       53,704    
Cohu, Inc.§     5,400       87,210    
Cymer, Inc.*     1,900       64,885    
Cypress Semiconductor Corp.*§     8,800       113,432    
Diodes, Inc.*     3,700       79,439    
DSP Group, Inc.*§     4,900       40,033    
Exar Corp.*§     9,300       68,727    
FEI Co.*§     6,000       135,000    
Hittite Microwave Corp.*§     1,300       66,664    
Kopin Corp.*§     14,900       62,729    
Kulicke & Soffa Industries, Inc.*§     15,700       128,740    
Micrel, Inc.§     4,900       57,183    
Microsemi Corp.*§     4,703       77,882    
MKS Instruments, Inc.*§     4,000       90,720    

 

See Accompanying Notes to Financial Statements.
47



Credit Suisse Small Cap Core Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Semiconductors & Semiconductor Equipment  
NVIDIA Corp.*§     300     $ 4,716    
Pericom Semiconductor Corp.*     6,000       70,080    
Rudolph Technologies, Inc.*§     6,600       62,898    
Semtech Corp.*§     260       4,719    
Sigma Designs, Inc.*§     6,100       72,346    
Skyworks Solutions, Inc.*§     9,800       165,032    
Standard Microsystems Corp.*     4,900       125,832    
Supertex, Inc.*§     3,019       81,543    
Tessera Technologies, Inc.*§     4,100       83,148    
TriQuint Semiconductor, Inc.*     27,100       204,334    
Ultratech, Inc.*§     5,500       80,795    
Varian Semiconductor Equipment Associates, Inc.*     4,100       135,054    
Veeco Instruments, Inc.*§     50,200       2,208,298    
      5,614,862    
Software (2.7%)  
Advent Software, Inc.*     4,400       198,792    
ANSYS, Inc.*     2,916       131,220    
Ariba, Inc.*§     100       1,427    
AsiaInfo Holdings, Inc.*§     4,600       130,686    
Blackbaud, Inc.§     3,600       82,980    
CommVault Systems, Inc.*     6,600       138,270    
Concur Technologies, Inc.*§     2,369       99,285    
Ebix, Inc.*§     6,600       107,382    
Epicor Software Corp.*§     9,600       88,128    
EPIQ Systems, Inc.*§     2,900       34,945    
Fair Isaac Corp.§     300       6,318    
Interactive Intelligence, Inc.*§     2,800       55,356    
JDA Software Group, Inc.*     2,832       81,845    
Manhattan Associates, Inc.*§     5,200       149,032    
Netscout Systems, Inc.*     4,800       69,696    
Pegasystems, Inc.§     200       6,334    
Progress Software Corp.*§     2,300       74,175    
Radiant Systems, Inc.*§     6,100       85,827    
Red Hat, Inc.*     100       2,987    
Smith Micro Software, Inc.*§     7,100       67,379    
Sonic Solutions*     6,700       84,085    
Take-Two Interactive Software, Inc.*§     30,400       330,448    
Taleo Corp. Class A*§     2,400       62,352    
THQ, Inc.*§     15,200       115,520    
TiVo, Inc.*§     800       14,016    
Tyler Technologies, Inc.*§     15,700       267,528    
Ultimate Software Group, Inc.*§     500       16,725    
Websense, Inc.*§     2,300       52,371    
      2,555,109    

 

See Accompanying Notes to Financial Statements.
48



Credit Suisse Small Cap Core Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Specialty Retail (6.7%)  
Advance Auto Parts, Inc.     200     $ 9,020    
Aeropostale, Inc.*§     46,349       1,345,975    
Big 5 Sporting Goods Corp.§     4,600       77,970    
Brown Shoe Co., Inc.§     9,400       176,720    
Cabela's, Inc.*§     2,200       39,952    
Christopher & Banks Corp.     7,700       75,383    
Collective Brands, Inc.*§     4,300       100,835    
GameStop Corp. Class A*§     300       7,293    
Genesco, Inc.*§     4,800       159,792    
Group 1 Automotive, Inc.*§     19,600       608,580    
Haverty Furniture Cos., Inc.§     4,100       66,830    
Hibbett Sports, Inc.*§     1,700       46,750    
HOT Topic, Inc.§     40,252       307,525    
J. Crew Group, Inc.*§     100       4,647    
Jo-Ann Stores, Inc.*§     1,500       66,180    
JOS. A. Bank Clothiers, Inc.*§     977       59,460    
Lumber Liquidators Holdings, Inc.*§     3,400       103,564    
MarineMax, Inc.*§     5,100       56,865    
Midas, Inc.*§     2,700       31,077    
Monro Muffler, Inc.§     2,000       71,720    
OfficeMax, Inc.*§     75,200       1,428,800    
PEP Boys-Manny, Moe & Jack§     10,600       132,818    
Rent-A-Center, Inc.*§     5,500       142,010    
Ross Stores, Inc.§     1,000       56,000    
Sonic Automotive, Inc. Class A*§     8,400       89,712    
Stage Stores, Inc.     8,112       123,708    
Stein Mart, Inc.*§     6,300       59,724    
The Buckle, Inc.§     1,350       48,843    
The Cato Corp. Class A§     4,700       111,625    
The Children's Place Retail Stores, Inc.*§     1,500       68,730    
The Dress Barn, Inc.*§     5,220       144,490    
The Finish Line, Inc. Class A     10,900       175,599    
The Gymboree Corp.*§     1,600       78,608    
The Men's Wearhouse, Inc.§     2,900       68,527    
Tractor Supply Co.§     2,000       134,340    
Zale Corp.*§     4,800       15,648    
Zumiez, Inc.*§     4,500       83,520    
      6,378,840    
Textiles, Apparel & Luxury Goods (2.0%)  
Carter's, Inc.*     3,300       106,326    
CROCS, Inc.*§     19,400       187,404    
Deckers Outdoor Corp.*     800       112,464    
Iconix Brand Group, Inc.*§     4,000       69,040    
Jones Apparel Group, Inc.§     22,700       493,952    
K-Swiss, Inc. Class A*§     2,900       36,076    
Liz Claiborne, Inc.*     5,500       48,070    
Lululemon Athletica, Inc.*§     300       11,286    
Maidenform Brands, Inc.*     4,494       102,553    

 

See Accompanying Notes to Financial Statements.
49



Credit Suisse Small Cap Core Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
COMMON STOCKS  
Textiles, Apparel & Luxury Goods  
Movado Group, Inc.*§     4,200     $ 52,122    
Oxford Industries, Inc.§     3,200       69,088    
Perry Ellis International, Inc.*§     2,400       57,912    
Phillips-Van Heusen Corp.     100       6,301    
Polo Ralph Lauren Corp.§     100       8,990    
Quiksilver, Inc.*     28,100       149,773    
Skechers U.S.A., Inc. Class A*     2,100       80,535    
Steven Madden, Ltd.*     100       5,796    
The Timberland Co. Class A*     2,200       47,300    
True Religion Apparel, Inc.*     1,700       53,125    
Unifirst Corp.     1,400       68,418    
Volcom, Inc.*§     3,900       92,976    
Wolverine World Wide, Inc.     2,600       79,586    
      1,939,093    
Thrifts & Mortgage Finance (0.3%)  
Bank Mutual Corp.§     8,900       63,368    
Brookline Bancorp, Inc.§     5,900       64,841    
Dime Community Bancshares§     1,700       21,675    
NewAlliance Bancshares, Inc.§     111       1,447    
Trustco Bank Corp. NY§     23,545       156,574    
      307,905    
Tobacco (0.1%)  
Alliance One International, Inc.*§     20,600       104,854    
Universal Corp.§     100       5,178    
      110,032    
Trading Companies & Distributors (0.8%)  
Applied Industrial Technologies, Inc.§     3,100       95,418    
Beacon Roofing Supply, Inc.*§     18,800       417,360    
Kaman Corp.§     3,424       93,852    
Lawson Products, Inc.§     900       14,625    
MSC Industrial Direct Co., Inc. Class A§     455       24,793    
Watsco, Inc.§     1,800       106,596    
      752,644    
Water Utilities (0.1%)  
American States Water Co.§     1,100       41,052    
California Water Service Group§     200       7,746    
      48,798    
Wireless Telecommunication Services (0.1%)  
NTELOS Holdings Corp.     1,600       31,408    
Syniverse Holdings, Inc.*§     100       2,008    
USA Mobility, Inc.*§     1,400       19,516    
      52,932    
TOTAL COMMON STOCKS (Cost $78,692,707)     94,641,222    

 

See Accompanying Notes to Financial Statements.
50



Credit Suisse Small Cap Core Fund
Schedule of Investments (continued)

April 30, 2010 (unaudited)

    Number of
Shares
  Value  
SHORT-TERM INVESTMENTS (47.3%)  
State Street Navigator Prime Portfolio§§     43,821,151     $ 43,821,151    
    Par
(000)
 
 
State Street Bank and Trust Co. Euro Time Deposit, 0.010%, 05/03/10   $ 1,558       1,558,000    
TOTAL SHORT-TERM INVESTMENTS (Cost $45,379,151)     45,379,151    
TOTAL INVESTMENTS AT VALUE (146.1%) (Cost $124,071,858)     140,020,373    
LIABILITIES IN EXCESS OF OTHER ASSETS (-46.1%)     (44,196,090 )  
NET ASSETS (100.0%)   $ 95,824,283    

 

*  Non-income producing security.

§  Security or portion thereof is out on loan.

§§  Represents security purchased with cash collateral received for securities on loan.

See Accompanying Notes to Financial Statements.
51




Credit Suisse Funds
Statements of Assets and Liabilities

April 30, 2010 (unaudited)

    Large Cap
Value Fund
  Small Cap
Core Fund
 
Assets  
Investments at value, including collateral for securities on loan
of $16,791,510 and $43,821,151, respectively (Cost $171,658,566
and $124,071,858, respectively) (Note 2)
  $ 186,203,3351     $ 140,020,3732    
Cash     5,589       430    
Receivable for investments sold     5,702,761       2,841,014    
Dividend and interest receivable     101,354       71,495    
Receivable for fund shares sold     18,214       20,967    
Prepaid expenses and other assets     40,723       48,939    
Total Assets     192,071,976       143,003,218    
Liabilities  
Advisory fee payable (Note 3)     80,235       55,980    
Administrative services fee payable (Note 3)     30,872       22,084    
Shareholder servicing/Distribution fee payable (Note 3)     40,880       26,487    
Payable upon return of securities loaned (Note 2)     16,791,510       43,821,151    
Payable for investments purchased     5,918,156       3,111,028    
Payable for fund shares redeemed     39,649       12,299    
Trustees' fee payable     5,571       5,629    
Other accrued expenses payable     145,919       124,277    
Total Liabilities     23,052,792       47,178,935    
Net Assets  
Capital stock, $.001 par value (Note 6)     13,381       8,514    
Paid-in capital (Note 6)     192,632,631       121,772,948    
Undistributed (accumulated) net investment income (loss)     176,321       (179,277 )  
Accumulated net realized loss on investments and foreign
currency transactions
    (38,347,918 )     (41,726,417 )  
Net unrealized appreciation from investments     14,544,769       15,948,515    
Net Assets   $ 169,019,184     $ 95,824,283    
Common Shares  
Net assets   $ 368,809     $ 14,969,660    
Shares outstanding     29,347       1,305,413    
Net asset value, offering price and redemption price per share   $ 12.57     $ 11.47    
Advisor Shares  
Net assets   $ 2,384,093       N/A    
Shares outstanding     187,888       N/A    
Net asset value, offering price and redemption price per share   $ 12.69       N/A    

 

See Accompanying Notes to Financial Statements.
52



Credit Suisse Funds
Statements of Assets and Liabilities (continued)

April 30, 2010 (unaudited)

    Large Cap
Value Fund
  Small Cap
Core Fund
 
A Shares  
Net assets   $ 162,876,403     $ 70,083,102    
Shares outstanding     12,886,991       6,037,101    
Net asset value and redemption price per share   $ 12.64     $ 11.61    
Maximum offering price per share (net asset value/(1-5.75%))   $ 13.41     $ 12.32    
B Shares  
Net assets   $ 2,321,429     $ 2,996,136    
Shares outstanding     188,786       323,643    
Net asset value and offering price per share   $ 12.30     $ 9.26    
C Shares  
Net assets   $ 1,068,450     $ 7,775,385    
Shares outstanding     87,624       847,959    
Net asset value and offering price per share   $ 12.19     $ 9.17    

 

1  Including $16,146,016 of securities on loan.

2  Including $41,151,698 of securities on loan.

See Accompanying Notes to Financial Statements.
53



Credit Suisse Funds
Statements of Operations

For the Six Months Ended April 30, 2010 (unaudited)

    Large Cap
Value Fund
  Small Cap
Core Fund
 
Investment Income (Note 2)  
Dividends   $ 1,594,913     $ 491,398    
Interest     215       137    
Securities lending     18,857       59,468    
Foreign taxes withheld     (156 )        
Total investment income     1,613,829       551,003    
Expenses  
Investment advisory fees (Note 3)     409,840       314,647    
Administrative services fees (Note 3)     137,451       88,475    
Shareholder servicing/Distribution fees (Note 3)  
Common Class           18,568    
Advisor Class     5,741          
Class A     197,367       81,266    
Class B     11,775       15,038    
Class C     5,184       35,124    
Custodian fees     136,380       95,009    
Transfer agent fees     102,399       81,500    
Printing fees (Note 3)     26,746       23,209    
Registration fees     22,960       26,899    
Audit and tax fees     19,436       16,973    
Trustees' fees     12,500       12,557    
Legal fees     13,606       11,037    
Insurance expense     8,838       5,083    
Commitment fees (Note 4)     1,997       1,100    
Miscellaneous expense     4,959       4,328    
Total expenses     1,117,179       830,813    
Less: fees waived (Note 3)     (36,447 )     (96,472 )  
Net expenses     1,080,732       734,341    
Net investment income (loss)     533,097       (183,338 )  
Net Realized and Unrealized Gain from Investments  
Net realized gain from investments     10,786,280       6,879,289    
Net change in unrealized appreciation (depreciation) from investments     10,311,841       14,058,478    
Net realized and unrealized gain from investments     21,098,121       20,937,767    
Net increase in net assets resulting from operations   $ 21,631,218     $ 20,754,429    

 

    

See Accompanying Notes to Financial Statements.
54




Credit Suisse Funds
Statements of Changes in Net Assets

    Large Cap Value Fund   Small Cap Core Fund  
    For the Six Months
Ended
April 30, 2010
(unaudited)
  For the Year
Ended
October 31,
2009
  For the Six Months
Ended
April 30, 2010
(unaudited)
  For the Year
Ended
October 31,
2009
 
From Operations  
Net investment income (loss)   $ 533,097     $ 1,907,870     $ (183,338 )   $ (187,067 )  
Net realized gain (loss) from investments
and foreign currency transactions
    10,786,280       (23,957,446 )     6,879,289       (30,534,342 )  
Net change in unrealized appreciation
(depreciation) from investments
    10,311,841       39,359,889       14,058,478       27,015,590    
Net increase (decrease) in net assets
resulting from operations
    21,631,218       17,310,313       20,754,429       (3,705,819 )  
From Dividends and Distributions  
Dividends from net investment income  
Common Class shares     (1,925 )     (4,407 )              
Advisor Class shares     (9,503 )     (22,379 )              
Class A shares     (750,191 )     (1,807,556 )              
Class B shares     (7,258 )     (20,225 )              
Class C shares     (3,217 )     (7,343 )              
Distributions from return of capital  
Common Class shares                       (9,406 )  
Advisor Class shares                          
Class A shares                       (44,485 )  
Class B shares                       (507 )  
Class C shares                       (838 )  
Net decrease in net assets resulting
from dividends and distributions
    (772,094 )     (1,861,910 )           (55,236 )  
From Capital Share Transactions (Note 6)  
Proceeds from sale of shares     2,186,621       5,029,255       1,873,299       5,453,785    
Reinvestment of dividends
and distributions
    694,209       1,680,734             51,416    
Net asset value of shares redeemed     (11,160,454 )     (22,255,405 )     (10,823,325 )1     (24,000,877 )2  
Net decrease in net assets from
capital share transactions
    (8,279,624 )     (15,545,416 )     (8,950,026 )     (18,495,676 )  
Net increase (decrease) in net assets     12,579,500       (97,013 )     11,804,403       (22,256,731 )  
Net Assets  
Beginning of period     156,439,684       156,536,697       84,019,880       106,276,611    
End of period   $ 169,019,184     $ 156,439,684     $ 95,824,283     $ 84,019,880    
Undistributed (accumulated) net
investment income (loss)
  $ 176,321     $ 415,318     $ (179,277 )   $ 4,061    

 

1  Net of $1,214 of redemption fees retained by the Fund.

2  Net of $11 of redemption fees retained by the Fund.

See Accompanying Notes to Financial Statements.
55




Credit Suisse Large Cap Value Fund
Financial Highlights
(For a Common Class Share of the Fund Outstanding Throughout Each Period)

    For the Six
Months Ended
April 30, 2010
  For the Year Ended October 31,  
    (unaudited)   2009   2008   2007   2006   2005  
Per share data  
Net asset value, beginning of period   $ 11.06     $ 9.88     $ 19.17     $ 21.93     $ 20.97     $ 19.98    
INVESTMENT OPERATIONS  
Net investment income1     0.05       0.15       0.26       0.26       0.28       0.24    
Net gain (loss) on investments and
foreign currency related items (both
realized and unrealized)
    1.52       1.18       (6.09 )     1.68       3.42       2.32    
Total from investment operations     1.57       1.33       (5.83 )     1.94       3.70       2.56    
LESS DIVIDENDS AND DISTRIBUTIONS  
Dividends from net investment income     (0.06 )     (0.15 )     (0.26 )     (0.25 )     (0.26 )     (0.25 )  
Distributions from net realized gains                 (3.20 )     (4.45 )     (2.48 )     (1.32 )  
Total dividends and distributions     (0.06 )     (0.15 )     (3.46 )     (4.70 )     (2.74 )     (1.57 )  
Net asset value, end of period   $ 12.57     $ 11.06     $ 9.88     $ 19.17     $ 21.93     $ 20.97    
Total return2     14.26 %     13.74 %     (36.29 )%     10.59 %     19.44 %     13.34 %  
RATIOS AND SUPPLEMENTAL DATA  
Net assets, end of period (000s omitted)   $ 369     $ 329     $ 300     $ 570     $ 600     $ 591    
Ratio of expenses to average net assets     1.05 %3     1.05 %     0.90 %     0.82 %     0.89 %     0.91 %  
Ratio of net investment income to
average net assets
    0.92 %3     1.61 %     1.89 %     1.37 %     1.37 %     1.15 %  
Decrease reflected in above
operating expense ratios due
to waivers/reimbursements
    0.04 %3     0.14 %                          
Portfolio turnover rate     191 %     489 %     179 %     163 %     78 %     58 %  

 

1  Per share information is calculated using the average shares outstanding method.

2  Total returns are historical and assume changes in share price and reinvestment of all dividends and distributions. Had certain expenses not been reduced during the periods shown, total returns would have been lower. Total returns for periods less than one year are not annualized.

3  Annualized.

See Accompanying Notes to Financial Statements.
56



Credit Suisse Large Cap Value Fund
Financial Highlights
(For an Advisor Class Share of the Fund Outstanding Throughout Each Period)

    For the Six
Months Ended
April 30, 2010
  For the Year Ended October 31,  
    (unaudited)   2009   2008   2007   2006   2005  
Per share data  
Net asset value, beginning of period   $ 11.18     $ 10.01     $ 19.33     $ 22.08     $ 21.10     $ 20.09    
INVESTMENT OPERATIONS  
Net investment income1     0.03       0.11       0.19       0.17       0.18       0.14    
Net gain (loss) on investments and
foreign currency related items (both
realized and unrealized)
    1.53       1.17       (6.12 )     1.69       3.44       2.34    
Total from investment operations     1.56       1.28       (5.93 )     1.86       3.62       2.48    
LESS DIVIDENDS AND DISTRIBUTIONS  
Dividends from net investment income     (0.05 )     (0.11 )     (0.19 )     (0.16 )     (0.16 )     (0.15 )  
Distributions from net realized gains                 (3.20 )     (4.45 )     (2.48 )     (1.32 )  
Total dividends and distributions     (0.05 )     (0.11 )     (3.39 )     (4.61 )     (2.64 )     (1.47 )  
Net asset value, end of period   $ 12.69     $ 11.18     $ 10.01     $ 19.33     $ 22.08     $ 21.10    
Total return2     13.97 %     13.05 %     (36.45 )%     10.01 %     18.84 %     12.81 %  
RATIOS AND SUPPLEMENTAL DATA  
Net assets, end of period (000s omitted)   $ 2,384     $ 2,148     $ 2,097     $ 5,234     $ 5,806     $ 8,368    
Ratio of expenses to average net assets     1.55 %3     1.55 %     1.41 %     1.32 %     1.39 %     1.41 %  
Ratio of net investment income to
average net assets
    0.42 %3     1.11 %     1.38 %     0.87 %     0.87 %     0.65 %  
Decrease reflected in above
operating expense ratios due
to waivers/reimbursements
    0.04 %3     0.14 %                          
Portfolio turnover rate     191 %     489 %     179 %     163 %     78 %     58 %  

 

1  Per share information is calculated using the average shares outstanding method.

2  Total returns are historical and assume changes in share price and reinvestment of all dividends and distributions. Had certain expenses not been reduced during the periods shown, total returns would have been lower. Total returns for periods less than one year are not annualized.

3  Annualized.

See Accompanying Notes to Financial Statements.
57



Credit Suisse Large Cap Value Fund
Financial Highlights
(For a Class A Share of the Fund Outstanding Throughout Each Period)

    For the Six
Months Ended
April 30, 2010
  For the Year Ended October 31,  
    (unaudited)   2009   2008   2007   2006   2005  
Per share data  
Net asset value, beginning of period   $ 11.13     $ 9.95     $ 19.28     $ 22.03     $ 21.05     $ 20.05    
INVESTMENT OPERATIONS  
Net investment income1     0.04       0.13       0.23       0.22       0.22       0.19    
Net gain (loss) on investments and
foreign currency related items (both
realized and unrealized)
    1.53       1.18       (6.14 )     1.69       3.45       2.33    
Total from investment operations     1.57       1.31       (5.91 )     1.91       3.67       2.52    
LESS DIVIDENDS AND DISTRIBUTIONS  
Dividends from net investment income     (0.06 )     (0.13 )     (0.22 )     (0.21 )     (0.21 )     (0.20 )  
Distributions from net realized gains                 (3.20 )     (4.45 )     (2.48 )     (1.32 )  
Total dividends and distributions     (0.06 )     (0.13 )     (3.42 )     (4.66 )     (2.69 )     (1.52 )  
Net asset value, end of period   $ 12.64     $ 11.13     $ 9.95     $ 19.28     $ 22.03     $ 21.05    
Total return2     14.10 %     13.43 %     (36.46 )%     10.32 %     19.18 %     13.06 %  
RATIOS AND SUPPLEMENTAL DATA  
Net assets, end of period (000s omitted)   $ 162,876     $ 150,638     $ 150,304     $ 280,329     $ 305,866     $ 300,777    
Ratio of expenses to average net assets     1.30 %3     1.30 %     1.16 %     1.07 %     1.14 %     1.16 %  
Ratio of net investment income to
average net assets
    0.67 %3     1.38 %     1.63 %     1.12 %     1.12 %     0.91 %  
Decrease reflected in above
operating expense ratios due
to waivers/reimbursements
    0.04 %3     0.14 %                          
Portfolio turnover rate     191 %     489 %     179 %     163 %     78 %     58 %  

 

1  Per share information is calculated using the average shares outstanding method.

2  Total returns are historical and assume changes in share price, reinvestment of all dividends and distributions and no sales charge. Had certain expenses not been reduced during the periods shown, total returns would have been lower. Total returns for periods less than one year are not annualized.

3  Annualized.

See Accompanying Notes to Financial Statements.
58



Credit Suisse Large Cap Value Fund
Financial Highlights
(For a Class B Share of the Fund Outstanding Throughout Each Period)

    For the Six
Months Ended
April 30, 2010
  For the Year Ended October 31,  
    (unaudited)   2009   2008   2007   2006   2005  
Per share data  
Net asset value, beginning of period   $ 10.85     $ 9.73     $ 18.92     $ 21.70     $ 20.78     $ 19.81    
INVESTMENT OPERATIONS  
Net investment income (loss)1     (0.00 )2     0.06       0.12       0.07       0.07       0.04    
Net gain (loss) on investments and
foreign currency related items (both
realized and unrealized)
    1.48       1.14       (6.00 )     1.66       3.39       2.30    
Total from investment operations     1.48       1.20       (5.88 )     1.73       3.46       2.34    
LESS DIVIDENDS AND DISTRIBUTIONS  
Dividends from net investment income     (0.03 )     (0.08 )     (0.11 )     (0.06 )     (0.06 )     (0.05 )  
Distributions from net realized gains                 (3.20 )     (4.45 )     (2.48 )     (1.32 )  
Total dividends and distributions     (0.03 )     (0.08 )     (3.31 )     (4.51 )     (2.54 )     (1.37 )  
Net asset value, end of period   $ 12.30     $ 10.85     $ 9.73     $ 18.92     $ 21.70     $ 20.78    
Total return3     13.70 %     12.54 %     (36.93 )%     9.49 %     18.25 %     12.23 %  
RATIOS AND SUPPLEMENTAL DATA  
Net assets, end of period (000s omitted)   $ 2,321     $ 2,372     $ 2,864     $ 9,224     $ 14,994     $ 20,057    
Ratio of expenses to average net assets     2.05 %4     2.05 %     1.91 %     1.82 %     1.89 %     1.91 %  
Ratio of net investment income (loss)
to average net assets
    (0.07 )%4     0.66 %     0.89 %     0.39 %     0.37 %     0.15 %  
Decrease reflected in above
operating expense ratios due
to waivers/reimbursements
    0.04 %4     0.14 %                          
Portfolio turnover rate     191 %     489 %     179 %     163 %     78 %     58 %  

 

1  Per share information is calculated using the average shares outstanding method.

2  This amount represents less than $(0.01) per share.

3  Total returns are historical and assume changes in share price, reinvestment of all dividends and distributions and no sales charge. Had certain expenses not been reduced during the periods shown, total returns would have been lower. Total returns for periods less than one year are not annualized.

4  Annualized.

See Accompanying Notes to Financial Statements.
59



Credit Suisse Large Cap Value Fund
Financial Highlights
(For a Class C Share of the Fund Outstanding Throughout Each Period)

    For the Six
Months Ended
April 30, 2010
  For the Year Ended October 31,  
    (unaudited)   2009   2008   2007   2006   2005  
Per share data  
Net asset value, beginning of period   $ 10.76     $ 9.65     $ 18.79     $ 21.58     $ 20.68     $ 19.72    
INVESTMENT OPERATIONS  
Net investment income (loss)1     (0.00 )2     0.06       0.12       0.07       0.07       0.03    
Net gain (loss) on investments and
foreign currency related items (both
realized and unrealized)
    1.46       1.13       (5.95 )     1.65       3.37       2.30    
Total from investment operations     1.46       1.19       (5.83 )     1.72       3.44       2.33    
LESS DIVIDENDS AND DISTRIBUTIONS  
Dividends from net investment income     (0.03 )     (0.08 )     (0.11 )     (0.06 )     (0.06 )     (0.05 )  
Distributions from net realized gains                 (3.20 )     (4.45 )     (2.48 )     (1.32 )  
Total dividends and distributions     (0.03 )     (0.08 )     (3.31 )     (4.51 )     (2.54 )     (1.37 )  
Net asset value, end of period   $ 12.19     $ 10.76     $ 9.65     $ 18.79     $ 21.58     $ 20.68    
Total return3     13.63 %     12.55 %     (36.91 )%     9.50 %     18.25 %     12.23 %  
RATIOS AND SUPPLEMENTAL DATA  
Net assets, end of period (000s omitted)   $ 1,069     $ 954     $ 972     $ 2,140     $ 2,618     $ 3,638    
Ratio of expenses to average net assets     2.05 %4     2.05 %     1.91 %     1.82 %     1.89 %     1.91 %  
Ratio of net investment income (loss)
to average net assets
    (0.09 )%4     0.63 %     0.89 %     0.39 %     0.37 %     0.15 %  
Decrease reflected in above
operating expense ratios due
to waivers/reimbursements
    0.04 %4     0.14 %                          
Portfolio turnover rate     191 %     489 %     179 %     163 %     78 %     58 %  

 

1  Per share information is calculated using the average shares outstanding method.

2  This amount represents less than $(0.01) per share.

3  Total returns are historical and assume changes in share price, reinvestment of all dividends and distributions and no sales charge. Had certain expenses not been reduced during the periods shown, total returns would have been lower. Total returns for periods less than one year are not annualized.

4  Annualized.

See Accompanying Notes to Financial Statements.
60



Credit Suisse Small Cap Core Fund
Financial Highlights
(For a Common Class Share of the Fund Outstanding Throughout Each Period)

    For the Six
Months Ended
April 30, 2010
  For the Year Ended October 31,  
    (unaudited)   2009   2008   2007   2006   2005  
Per share data  
Net asset value, beginning of period   $ 9.11     $ 9.21     $ 22.41     $ 24.33     $ 23.84     $ 22.66    
INVESTMENT OPERATIONS  
Net investment income (loss)1     (0.02 )     (0.01 )     0.01       (0.08 )     0.11       (0.03 )  
Net gain (loss) on investments and futures
contracts (both realized and unrealized)
    2.38       (0.08 )     (5.55 )     2.16       2.85       3.39    
Total from investment operations     2.36       (0.09 )     (5.54 )     2.08       2.96       3.36    
REDEMPTION FEES     0.002       0.002       0.002                      
LESS DIVIDENDS AND DISTRIBUTIONS  
Dividends from net investment income                       (0.14 )              
Distributions from net realized gains                 (7.66 )     (3.86 )     (2.47 )     (2.18 )  
Distributions from return of capital           (0.01 )                          
Total dividends and distributions           (0.01 )     (7.66 )     (4.00 )     (2.47 )     (2.18 )  
Net asset value, end of period   $ 11.47     $ 9.11     $ 9.21     $ 22.41     $ 24.33     $ 23.84    
Total return3     25.91 %     (1.02 )%     (34.47 )%     9.58 %     13.23 %     15.56 %  
RATIOS AND SUPPLEMENTAL DATA  
Net assets, end of period (000s omitted)   $ 14,970     $ 14,325     $ 16,565     $ 57,452     $ 70,525     $ 74,013    
Ratio of expenses to average net assets     1.55 %4     1.55 %     1.47 %     1.34 %     1.37 %     1.38 %  
Ratio of net investment income (loss)
to average net assets
    (0.32 )%4     (0.15 )%     0.09 %     (0.39 )%     0.47 %     (0.16 )%  
Decrease reflected in above
operating expense ratios due
to waivers/reimbursements
    0.22 %4     0.30 %                          
Portfolio turnover rate     91 %     423 %     195 %     262 %     67 %     43 %  

 

1  Per share information is calculated using the average shares outstanding method.

2  This amount represents less than $0.01 per share.

3  Total returns are historical and assume changes in share price and reinvestment of all dividends and distributions. Had certain expenses not been reduced during the periods shown, total returns would have been lower. Total returns for periods less than one year are not annualized.

4  Annualized.

See Accompanying Notes to Financial Statements.
61



Credit Suisse Small Cap Core Fund
Financial Highlights
(For a Class A Share of the Fund Outstanding Throughout Each Period)

    For the Six
Months Ended
April 30, 2010
  For the Year Ended October 31,  
    (unaudited)   2009   2008   2007   2006   2005  
Per share data  
Net asset value, beginning of period   $ 9.22     $ 9.32     $ 22.57     $ 24.44     $ 23.94     $ 22.75    
INVESTMENT OPERATIONS  
Net investment income (loss)1     (0.02 )     (0.01 )     0.01       (0.08 )     0.12       (0.04 )  
Net gain (loss) on investments and futures
contracts (both realized and unrealized)
    2.41       (0.08 )     (5.60 )     2.18       2.85       3.42    
Total from investment operations     2.39       (0.09 )     (5.59 )     2.10       2.97       3.38    
REDEMPTION FEES     0.002       0.002       0.002                      
LESS DIVIDENDS AND DISTRIBUTIONS  
Dividends from net investment income                       (0.11 )              
Distributions from net realized gains                 (7.66 )     (3.86 )     (2.47 )     (2.19 )  
Distributions from return of capital           (0.01 )                          
Total dividends and distributions           (0.01 )     (7.66 )     (3.97 )     (2.47 )     (2.19 )  
Net asset value, end of period   $ 11.61     $ 9.22     $ 9.32     $ 22.57     $ 24.44     $ 23.94    
Total return3     25.92 %     (1.01 )%     (34.44 )%     9.61 %     13.22 %     15.54 %  
RATIOS AND SUPPLEMENTAL DATA  
Net assets, end of period (000s omitted)   $ 70,083     $ 60,426     $ 79,414     $ 169,076     $ 263,006     $ 227,166    
Ratio of expenses to average net assets     1.55 %4     1.55 %     1.47 %     1.35 %     1.37 %     1.38 %  
Ratio of net investment income (loss)
to average net assets
    (0.32 )%4     (0.14 )%     0.10 %     (0.38 )%     0.47 %     (0.16 )%  
Decrease reflected in above
operating expense ratios due
to waivers/reimbursements
    0.21 %4     0.30 %                          
Portfolio turnover rate     91 %     423 %     195 %     262 %     67 %     43 %  

 

1  Per share information is calculated using the average shares outstanding method.

2  This amount represents less than $0.01 per share.

3  Total returns are historical and assume changes in share price, reinvestment of all dividends and distributions and no sales charge. Had certain expenses not been reduced during the periods shown, total returns would have been lower. Total returns for periods less than one year are not annualized.

4  Annualized.

See Accompanying Notes to Financial Statements.
62



Credit Suisse Small Cap Core Fund
Financial Highlights
(For a Class B Share of the Fund Outstanding Throughout Each Period)

    For the Six
Months Ended
April 30, 2010
  For the Year Ended October 31,  
    (unaudited)   2009   2008   2007   2006   2005  
Per share data  
Net asset value, beginning of period   $ 7.38     $ 7.51     $ 19.91     $ 22.07     $ 21.99     $ 21.20    
INVESTMENT OPERATIONS  
Net investment loss1     (0.04 )     (0.06 )     (0.07 )     (0.22 )     (0.06 )     (0.20 )  
Net gain (loss) on investments and futures
contracts (both realized and unrealized)
    1.92       (0.07 )     (4.67 )     1.93       2.61       3.17    
Total from investment operations     1.88       (0.13 )     (4.74 )     1.71       2.55       2.97    
REDEMPTION FEES     0.002                                  
LESS DIVIDENDS AND DISTRIBUTIONS  
Dividends from net investment income                       (0.01 )              
Distributions from net realized gains                 (7.66 )     (3.86 )     (2.47 )     (2.18 )  
Distributions from return of capital           (0.00 )3                          
Total dividends and distributions           (0.00 )3     (7.66 )     (3.87 )     (2.47 )     (2.18 )  
Net asset value, end of period   $ 9.26     $ 7.38     $ 7.51     $ 19.91     $ 22.07     $ 21.99    
Total return4     25.47 %     (1.72 )%     (34.96 )%     8.74 %     12.41 %     14.72 %  
RATIOS AND SUPPLEMENTAL DATA  
Net assets, end of period (000s omitted)   $ 2,996     $ 3,038     $ 3,981     $ 9,122     $ 12,465     $ 18,133    
Ratio of expenses to average net assets     2.30 %5     2.30 %     2.23 %     2.10 %     2.12 %     2.13 %  
Ratio of net investment loss to
average net assets
    (1.08 )%5     (0.89 )%     (0.65 )%     (1.13 )%     (0.28 )%     (0.91 )%  
Decrease reflected in above
operating expense ratios due
to waivers/reimbursements
    0.22 %5     0.30 %                          
Portfolio turnover rate     91 %     423 %     195 %     262 %     67 %     43 %  

 

1  Per share information is calculated using the average shares outstanding method.

2  This amount represents less than $0.01 per share.

3  This amount represents less than $(0.01) per share.

4  Total returns are historical and assume changes in share price, reinvestment of all dividends and distributions and no sales charge. Had certain expenses not been reduced during the periods shown, total returns would have been lower. Total returns for periods less than one year are not annualized.

5  Annualized.

See Accompanying Notes to Financial Statements.
63



Credit Suisse Small Cap Core Fund
Financial Highlights
(For a Class C Share of the Fund Outstanding Throughout Each Period)

    For the Six
Months Ended
April 30, 2010
  For the Year Ended October 31,  
    (unaudited)   2009   2008   2007   2006   2005  
Per share data  
Net asset value, beginning of period   $ 7.31     $ 7.44     $ 19.80     $ 21.97     $ 21.91     $ 21.13    
INVESTMENT OPERATIONS  
Net investment loss1     (0.04 )     (0.06 )     (0.07 )     (0.22 )     (0.06 )     (0.20 )  
Net gain (loss) on investments and futures
contracts (both realized and unrealized)
    1.90       (0.07 )     (4.63 )     1.92       2.59       3.16    
Total from investment operations     1.86       (0.13 )     (4.70 )     1.70       2.53       2.96    
REDEMPTION FEES     0.002       0.002       0.002                      
LESS DIVIDENDS AND DISTRIBUTIONS  
Dividends from net investment income                       (0.01 )              
Distributions from net realized gains                 (7.66 )     (3.86 )     (2.47 )     (2.18 )  
Distributions from return of capital           (0.00 )3                          
Total dividends and distributions           (0.00 )3     (7.66 )     (3.87 )     (2.47 )     (2.18 )  
Net asset value, end of period   $ 9.17     $ 7.31     $ 7.44     $ 19.80     $ 21.97     $ 21.91    
Total return4     25.44 %     (1.73 )%     (34.95 )%     8.74 %     12.36 %     14.72 %  
RATIOS AND SUPPLEMENTAL DATA  
Net assets, end of period (000s omitted)   $ 7,775     $ 6,232     $ 6,318     $ 15,305     $ 16,028     $ 16,079    
Ratio of expenses to average net assets     2.30 %5     2.30 %     2.23 %     2.10 %     2.12 %     2.13 %  
Ratio of net investment loss to
average net assets
    (1.07 )%5     (0.91 )%     (0.66 )%     (1.14 )%     (0.28 )%     (0.91 )%  
Decrease reflected in above
operating expense ratios due
to waivers/reimbursements
    0.21 %5     0.30 %                          
Portfolio turnover rate     91 %     423 %     195 %     262 %     67 %     43 %  

 

1  Per share information is calculated using the average shares outstanding method.

2  This amount represents less than $0.01 per share.

3  This amount represents less than $(0.01) per share.

4  Total returns are historical and assume changes in share price, reinvestment of all dividends and distributions and no sales charge. Had certain expenses not been reduced during the periods shown, total returns would have been lower. Total returns for periods less than one year are not annualized.

5  Annualized.

See Accompanying Notes to Financial Statements.
64




Credit Suisse Funds
Notes to Financial Statements
April 30, 2010 (unaudited)

Note 1. Organization

Credit Suisse Capital Funds (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act") as an open-end management investment company and currently offers two managed investment funds, the Credit Suisse Large Cap Value Fund ("Large Cap Value") and Credit Suisse Small Cap Core Fund ("Small Cap Core"), (each a "Fund" and collectively, the "Funds"). The Trust was organized under the laws of the Commonwealth of Massachusetts as a business trust on November 26, 1985. Each Fund is classified as diversified. Investment objectives for each Fund are as follows: Large Cap Value seeks long-term capital appreciation and continuity of income and Small Cap Core seeks a high level of growth of capital.

Large Cap Value offers five classes of shares: Common Class shares, Advisor Class shares, Class A shares, Class B shares and Class C shares. Small Cap Core offers four classes of shares: Common Class shares, Class A shares, Class B shares and Class C shares. Effective December 12, 2001, Large Cap Value closed the Common Class to new investments, except for reinvestment of dividends. Effective December 12, 2001, Small Cap Core's Common Class shares are closed to new investors, with certain exceptions as set forth in the prospectus. Each class of shares represents an equal pro rata interest in each Fund, except that they bear different expenses, which reflect the differences in the range of services provided to them. Class A shares of each Fund are sold subject to a front-end sales charge of 5.75%. Class B shares of each Fund are sold subject to a contingent deferred sales charge which declines from 4.00% to zero depending on the period of time the shares are held. Class C shares of each Fund are sold subject to a contingent deferred sales charge of 1.00% if the shares are redeemed within the first year of purchase.

Note 2. Significant Accounting Policies

A) SECURITY VALUATION — The net asset value of each Fund is determined daily as of the close of regular trading on the New York Stock Exchange, Inc. (the "Exchange") on each day the Exchange is open for business. Equity investments are valued at market value, which is generally determined using the closing price on the exchange or market on which the security is primarily traded at the time of valuation (the "Valuation Time"). If no sales are reported, equity investments are generally valued at the most recent bid quotation as of the Valuation Time or at the lowest asked quotation in the case of a short sale of securities. Debt securities with a remaining maturity greater than 60 days are valued in accordance with the price supplied by a pricing service, which may use a matrix, formula or other objective method that takes


65



Credit Suisse Funds
Notes to Financial Statements (continued)
April 30, 2010 (unaudited)

Note 2. Significant Accounting Policies

into consideration market indices, yield curves and other specific adjustments. Debt obligations that will mature in 60 days or less are valued on the basis of amortized cost, which approximates market value, unless it is determined that using this method would not represent fair value. Investments in mutual funds are valued at the mutual fund's closing net asset value per share on the day of valuation. Securities and other assets for which market quotations are not readily available, or whose values have been materially affected by events occurring before the Funds' Valuation Time but after the close of the securities' primary markets, are valued at fair value as determined in good faith by, or under the direction of, the Board of Trustees under procedures established by the Board of Trustees. The Funds may utilize a service provided by an independent third party which has been approved by the Board of Trustees to fair value certain securities. When fair-value pricing is employed, the prices of securities used by a fund to calculate its net asset value may differ from quoted or published prices for the same securities.

In accordance with the authoritative guidance on fair value measurements and disclosures under accounting principles generally accepted in the United States of America ("GAAP"), the Funds disclose the fair value of their investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. In accordance with GAAP, fair value is defined as the price that a Fund would receive upon selling an investment in a timely transaction to an independent buyer in the principal or most advantageous market of the investment. GAAP established a three-tier hierarchy to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, for example, the risk inherent in a particular valuation technique used to measure fair value including such a pricing model and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity's own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The


66



Credit Suisse Funds
Notes to Financial Statements (continued)
April 30, 2010 (unaudited)

Note 2. Significant Accounting Policies

three-tier hierarchy of inputs is summarized in the three broad Levels listed below.

•  Level 1 – quoted prices in active markets for identical investments

•  Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

•  Level 3 – significant unobservable inputs (including a Fund's own assumptions in determining the fair value of investments)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used as of April 30, 2010 in valuing each Fund's investments carried at value:

Large Cap Value Fund

    Level 1   Level 2   Level 3   Total  
Investments in Securities  
Common Stocks   $ 167,147,825     $     $     $ 167,147,825    
Short-Term Investments     16,791,510       2,264,000             19,055,510    
Other Financial Instruments*                          
    $ 183,939,335     $ 2,264,000     $     $ 186,203,335    

 

*Other financial instruments include futures, forwards and swap contracts.

Small Cap Core

    Level 1   Level 2   Level 3   Total  
Investments in Securities  
Common Stocks   $ 94,641,222     $     $     $ 94,641,222    
Short-Term Investments     43,821,151       1,558,000             45,379,151    
Other Financial Instruments*                          
    $ 138,462,373     $ 1,558,000     $     $ 140,020,373    

 

*Other financial instruments include futures, forwards and swap contracts.

Each Fund adopted FASB Accounting Standards Update 2010-06 "Fair Value Measurements and Disclosures (ASC 820)" which requires each Fund to disclose details of significant transfers in and out of Level 1 and Level 2 measurements and the reasons for the transfers. For the six months ended April 30, 2010, there were no significant transfers in and out of Level 1 and Level 2.

B) DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES — Effective October 31, 2009, each Fund adopted amendments to authoritative guidance on


67



Credit Suisse Funds
Notes to Financial Statements (continued)
April 30, 2010 (unaudited)

Note 2. Significant Accounting Policies

disclosures about derivative instruments and hedging activities which require that each Fund disclose (a) how and why an entity uses derivative instruments, (b) how derivative instruments and hedging activities are accounted for, and (c) how derivative instruments and related hedging activities affect a fund's financial position, financial performance, and cash flows. The Funds have not entered into any derivative or hedging activities during the period covered by this report.

C) FOREIGN CURRENCY TRANSACTIONS — The books and records of the Funds are maintained in U.S. dollars. Transactions denominated in foreign currencies are recorded at the current prevailing exchange rates. All assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the current exchange rate at the end of the period. Translation gains or losses resulting from changes in the exchange rate during the reporting period and realized gains and losses on the settlement of foreign currency transactions are reported in the results of operations for the current period. The Funds do not isolate that portion of realized gains and losses on investments in equity securities which is due to changes in the foreign exchange rate from that which is due to changes in market prices of equity securities. The Funds isolate that portion of realized gains and losses on investments in debt securities which is due to changes in the foreign exchange rate from that which is due to changes in market prices of debt securities.

D) SECURITY TRANSACTIONS AND INVESTMENT INCOME — Security transactions are accounted for on a trade date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Certain expenses are class-specific expenses and vary by class. Income, expenses (excluding class-specific expenses) and realized/unrealized gains/losses are allocated proportionately to each class of shares based upon the relative net asset value of the outstanding shares of that class. The cost of investments sold is determined by use of the specific identification method for both financial reporting and income tax purposes.

E) DIVIDENDS AND DISTRIBUTIONS TO SHAREHOLDERS — Dividends from net investment income, if any, are declared and paid quarterly by Large Cap Value and at least annually by Small Cap Core. Distributions of net realized capital gains, if any, are declared and paid at least annually by the Funds. However, to the extent that a net realized capital gain can be reduced by a capital loss carryforward, such gain will not be distributed. Income and capital gain distributions are determined in accordance with federal income tax regulations, which may differ from GAAP.


68



Credit Suisse Funds
Notes to Financial Statements (continued)
April 30, 2010 (unaudited)

Note 2. Significant Accounting Policies

F) FEDERAL INCOME TAXES — No provision is made for federal taxes as it is each Fund's intention to continue to qualify for and elect the tax treatment applicable to regulated investment companies under the Internal Revenue Code of 1986, as amended, and to make the requisite distributions to its shareholders, which will be sufficient to relieve it from federal income and excise taxes.

Each Fund adopted the authoritative guidance for uncertainty in income taxes and recognizes a tax benefit or liability from an uncertain position only if it is more likely than not that the position is sustainable based solely on its technical merits and consideration of the relevant taxing authority's widely understood administrative practices and procedures. Each Fund has reviewed its current tax positions and has determined that no provision for income tax is required in each Fund's financial statements. Each Fund's federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service.

G) USE OF ESTIMATES — The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from these estimates.

H) SHORT-TERM INVESTMENTS — The Funds, together with other funds/portfolios advised by Credit Suisse Asset Management, LLC ("Credit Suisse"), an indirect, wholly-owned subsidiary of Credit Suisse Group AG, pool available cash into a short-term variable rate time deposit issued by State Street Bank and Trust Company ("SSB"), the Funds' custodian. The short-term time deposit issued by SSB is a variable rate account classified as a short-term investment.

I) SECURITIES LENDING — Loans of securities are required at all times to be secured by collateral at least equal to 102% of the market value of domestic securities on loan (including any accrued interest thereon) and 105% of the market value of foreign securities on loan (including any accrued interest thereon). Cash collateral received by the Funds in connection with securities lending activity may be pooled together with cash collateral for other funds/portfolios advised by Credit Suisse and may be invested in a variety of investments, including funds advised by SSB, the Funds' securities lending agent, or money market instruments. However, in the event of default or


69



Credit Suisse Funds
Notes to Financial Statements (continued)
April 30, 2010 (unaudited)

Note 2. Significant Accounting Policies

bankruptcy by the other party to the agreement, realization and/or retention of the collateral may be subject to legal proceedings.

SSB has been engaged by the Funds to act as the Funds' securities lending agent. The Funds' securities lending arrangement provides that the Funds and SSB will share the net income earned from securities lending activities. During the six months ended April 30, 2010, total earnings from the Funds' investment in cash collateral received in connection with Large Cap Value and Small Cap Core's securities lending arrangements were $27,304 and $87,611, respectively, of which $3,704 and $13,288, respectively, were rebated to borrowers (brokers). The Funds retained $18,857 and $59,468 in income, respectively, from the cash collateral investment, and SSB, as lending agent, was paid $4,743 and $14,855, respectively. Securities lending income is accrued as earned.

Note 3. Transactions with Affiliates and Related Parties

Credit Suisse serves as investment adviser for each Fund. For its investment advisory services, Credit Suisse is entitled to receive a fee from Large Cap Value at an annual rate of 0.50% and for Small Cap Core, the lower of 0.70% or the following tiered fee:

Fund   Annual Rate  
Small Cap Core   0.875% of first $100 million of average daily net assets  
    0.75% of next $100 million of average daily net assets  
    0.625% of average daily net assets over $200 million  

 

For the six months ended April 30, 2010, investment advisory fees earned and voluntarily waived were as follows:

Fund   Gross
Investment
Advisory Fee
  Waiver   Net
Investment
Advisory Fee
 
Large Cap Value   $ 409,840     $ (36,447 )   $ 373,393    
Small Cap Core     314,647       (96,472 )     218,175    

 

Fee waivers and expense reimbursements are voluntary and may be discontinued by Credit Suisse at any time.

Credit Suisse Asset Management Securities, Inc. ("CSAMSI"), an affiliate of Credit Suisse, and SSB serve as co-administrators to the Funds. For its co-administrative services, CSAMSI currently receives a fee calculated at an annual rate of 0.09% of each Fund's average daily net assets. For the six months


70



Credit Suisse Funds
Notes to Financial Statements (continued)
April 30, 2010 (unaudited)

Note 3. Transactions with Affiliates and Related Parties

ended April 30, 2010, co-administrative services fees earned by CSAMSI were as follows:

Fund   Co-Administration Fee  
Large Cap Value   $ 73,771    
Small Cap Core     40,455    

 

For its co-administrative services, SSB receives a fee, exclusive of out-of-pocket expenses, calculated in total for all the Credit Suisse funds/portfolios co-administered by SSB and allocated based upon the relative average net assets of each fund/portfolio, subject to an annual minimum fee. For the six months ended April 30, 2010, co-administrative services fees earned by SSB (including out-of-pocket expenses) were as follows:

Fund   Co-Administration Fee  
Large Cap Value   $ 63,680    
Small Cap Core     48,020    

 

In addition to serving as each Fund's co-administrator, CSAMSI currently serves as distributor of each Fund's shares. Pursuant to distribution plans adopted by each Fund pursuant to Rule 12b-1 under the 1940 Act, CSAMSI receives fees for its distribution services. This fee is calculated at an annual rate of 0.25% of the average daily net assets of the Common Class of Small Cap Core and Class A shares of each Fund. Advisor Class shares of Large Cap Value may pay this fee at an annual rate not to exceed 0.75% of such class' average daily net assets; such fee is currently calculated at the annual rate of 0.50% of the average daily net assets of such class. For the Class B and Class C shares of each Fund, the fee is calculated at an annual rate of 1.00% of average daily net assets.

Certain brokers, dealers and financial representatives provide transfer agent related services to the Funds and receive compensation from Credit Suisse. Credit Suisse is then reimbursed by the Funds. For the six months ended April 30, 2010, Small Cap Core reimbursed Credit Suisse $10,958, which is included in the Fund's transfer agent expense.

For the six months ended April 30, 2010, CSAMSI and its affiliates advised the Funds that they retained the following amounts from commissions earned on the sale of the Funds' Class A shares:

Fund   Amount  
Large Cap Value   $ 2,722    
Small Cap Core     1,782    

 


71



Credit Suisse Funds
Notes to Financial Statements (continued)
April 30, 2010 (unaudited)

Note 3. Transactions with Affiliates and Related Parties

Merrill Corporation ("Merrill"), an affiliate of Credit Suisse, has been engaged by each Fund to provide certain financial printing services. For the six months ended April 30, 2010, Merrill was paid for its services by the Funds as follows:

Fund   Amount  
Large Cap Value   $ 28,853    
Small Cap Core     29,862    

 

Note 4. Line of Credit

The Funds, together with other funds/portfolios advised by Credit Suisse (collectively, the "Participating Funds"), participate in a committed, unsecured line of credit facility ("Credit Facility") for temporary or emergency purposes with SSB. Under the terms of the Credit Facility, the Participating Funds pay an aggregate commitment fee on the average unused amount of the Credit Facility, which is allocated among the Participating Funds in such manner as is determined by the governing Boards of the Participating Funds. In addition, the Participating Funds pay interest on borrowings at either the Overnight Federal Funds rate or the Overnight LIBOR rate plus a spread. At April 30, 2010, and during the six months ended April 30, 2010, the Funds had no borrowings under the Credit Facility.

Note 5. Purchases and Sales of Securities

For the six months ended April 30, 2010, purchases and sales of investment securities (excluding short-term investments) were as follows:

Fund   Purchases   Sales  
Large Cap Value   $ 303,703,028     $ 311,157,506    
Small Cap Core     78,634,931       87,933,238    

 

At April 30, 2010, the identified cost for federal income tax purposes, as well as the gross unrealized appreciation from investments for those securities having an excess of value over cost, gross unrealized depreciation from investments for those securities having an excess of cost over value and the net unrealized appreciation from investments were as follows:

Fund   Identified
Cost
  Gross Unrealized
Appreciation
  Gross Unrealized
Depreciation
  Net Unrealized
Appreciation
 
Large Cap Value   $ 171,658,566     $ 17,240,179     $ (2,695,410 )   $ 14,544,769    
Small Cap Core     124,071,858       17,654,905       (1,706,390 )     15,948,515    

 


72



Credit Suisse Funds
Notes to Financial Statements (continued)
April 30, 2010 (unaudited)

Note 6. Capital Share Transactions

Large Cap Value is authorized to issue an unlimited number of full and fractional shares of beneficial interest, $.001 par value per share, of which an unlimited number of shares are classified as Common Class shares, Advisor Class shares, Class A shares, Class B shares and Class C shares. Small Cap Core is authorized to issue an unlimited number of full and fractional shares of beneficial interest, $.001 par value per share, of which an unlimited number of shares are classified as Common Class shares, Class A shares, Class B shares and Class C shares. Transactions in capital shares of the Funds were as follows:

    Large Cap Value  
    Common Class  
    For the Six Months Ended
April 30, 2010 (unaudited)
  For the Year Ended
October 31, 2009
 
    Shares   Value   Shares   Value  
Shares issued in reinvestment
of dividends
    158     $ 1,925       481     $ 4,387    
Shares redeemed     (556 )     (7,209 )     (1,044 )     (10,922 )  
Net decrease     (398 )   $ (5,284 )     (563 )   $ (6,535 )  
    Advisor Class  
    For the Six Months Ended
April 30, 2010 (unaudited)
  For the Year Ended
October 31, 2009
 
    Shares   Value   Shares   Value  
Shares sold     12,144     $ 148,414       36,539     $ 343,128    
Shares issued in reinvestment
of dividends
    779       9,503       2,466       22,379    
Shares redeemed     (17,179 )     (205,625 )     (56,458 )     (554,306 )  
Net decrease     (4,256 )   $ (47,708 )     (17,453 )   $ (188,799 )  
    Class A  
    For the Six Months Ended
April 30, 2010 (unaudited)
  For the Year Ended
October 31, 2009
 
    Shares   Value   Shares   Value  
Shares sold     157,842     $ 1,902,000       487,330     $ 4,568,968    
Shares issued in reinvestment
of dividends
    55,303       674,693       179,251       1,632,423    
Shares redeemed     (865,252 )     (10,446,130 )     (2,229,384 )     (20,785,132 )  
Net decrease     (652,107 )   $ (7,869,437 )     (1,562,803 )   $ (14,583,741 )  

 


73



Credit Suisse Funds
Notes to Financial Statements (continued)
April 30, 2010 (unaudited)

Note 6. Capital Share Transactions

    Class B  
    For the Six Months Ended
April 30, 2010 (unaudited)
  For the Year Ended
October 31, 2009
 
    Shares   Value   Shares   Value  
Shares sold     6,472     $ 76,702       11,044     $ 97,706    
Shares issued in reinvestment
of dividends
    482       5,634       1,842       15,953    
Shares redeemed     (36,861 )     (428,005 )     (88,424 )     (797,485 )  
Net decrease     (29,907 )   $ (345,669 )     (75,538 )   $ (683,826 )  
    Class C  
    For the Six Months Ended
April 30, 2010 (unaudited)
  For the Year Ended
October 31, 2009
 
    Shares   Value   Shares   Value  
Shares sold     5,166     $ 59,505       1,972     $ 19,453    
Shares issued in reinvestment
of dividends
    212       2,454       650       5,592    
Shares redeemed     (6,418 )     (73,485 )     (14,664 )     (107,560 )  
Net decrease     (1,040 )   $ (11,526 )     (12,042 )   $ (82,515 )  
    Small Cap Core  
    Common Class  
    For the Six Months Ended
April 30, 2010 (unaudited)
  For the Year Ended
October 31, 2009
 
    Shares   Value   Shares   Value  
Shares sold     34,167     $ 351,086       119,702     $ 979,480    
Shares issued in reinvestment of
dividends and distributions
                1,193       9,282    
Shares redeemed     (301,125 )     (3,112,868 )     (346,795 )     (2,867,227 )  
Net decrease     (266,958 )   $ (2,761,782 )     (225,900 )   $ (1,878,465 )  
    Class A  
    For the Six Months Ended
April 30, 2010 (unaudited)
  For the Year Ended
October 31, 2009
 
    Shares   Value   Shares   Value  
Shares sold     99,245     $ 1,043,014       425,464     $ 3,430,260    
Shares issued in reinvestment of
dividends and distributions
                5,208       40,982    
Shares redeemed     (614,118 )     (6,448,042 )     (2,401,105 )     (19,377,580 )  
Net decrease     (514,873 )   $ (5,405,028 )     (1,970,433 )   $ (15,906,338 )  

 


74



Credit Suisse Funds
Notes to Financial Statements (continued)
April 30, 2010 (unaudited)

Note 6. Capital Share Transactions

    Class B  
    For the Six Months Ended
April 30, 2010 (unaudited)
  For the Year Ended
October 31, 2009
 
    Shares   Value   Shares   Value  
Shares sold     3,807     $ 31,351       21,723     $ 142,940    
Shares issued in reinvestment of
dividends and distributions
                71       453    
Shares redeemed     (91,636 )     (759,511 )     (140,305 )     (915,961 )  
Net decrease     (87,829 )   $ (728,160 )     (118,511 )   $ (772,568 )  
    Class C  
    For the Six Months Ended
April 30, 2010 (unaudited)
  For the Year Ended
October 31, 2009
 
    Shares   Value   Shares   Value  
Shares sold     55,716     $ 447,848       132,977     $ 901,105    
Shares issued in reinvestment of
dividends and distributions
                111       699    
Shares redeemed     (60,025 )     (502,904 )     (130,072 )     (840,109 )  
Net increase (decrease)     (4,309 )   $ (55,056 )     3,016     $ 61,695    

 

Small Cap Core imposes a 2% redemption fee on all classes of shares currently being offered that are purchased on or after March 1, 2007 and redeemed or exchanged within 30 days from the date of purchase. Reinvested dividends and distributions are not subject to the fee. The fee is charged based on the value of shares at redemption, is paid directly to the Fund and becomes part of the Fund's daily net asset value calculation. When shares are redeemed that are subject to the fee, reinvested dividends are redeemed first, followed by the shares held longest.

On April 30, 2010, the number of shareholders that held 5% or more of the outstanding shares of each class of the Funds was as follows:

    Number of
Shareholders
  Approximate Percentage
of Outstanding Shares
 
Large Cap Value  
Common Class     4       82 %  
Advisor Class     2       99 %  
Class A     2       19 %  
Class B     2       16 %  
Class C     3       44 %  
Small Cap Core  
Common Class     3       56 %  
Class A     1       6 %  
Class C     1       5 %  

 

Some of the shareholders are omnibus accounts, which hold shares on behalf of individual shareholders.


75



Credit Suisse Funds
Notes to Financial Statements (continued)
April 30, 2010 (unaudited)

Note 7. Contingencies

In the normal course of business, the Funds may provide general indemnifications pursuant to certain contracts and organizational documents. The Funds' maximum exposure under these arrangements is dependent on future claims that may be made against the Funds and, therefore, cannot be estimated; however, based on experience, the risk of loss from such claims is considered remote.

Note 8. Subsequent Events

Effective October 31, 2009, each Fund adopted the FASB amendments to general standards on accounting for and disclosures of subsequent events. Management has evaluated the possibility of subsequent events existing in the Funds' financial statements through June 23, 2010.

On May 3, 2010, the Board of Trustees of Credit Suisse Large Cap Value Fund, a series of the Credit Suisse Capital Funds (the "Acquired Fund"), approved the proposed reorganization of the Acquired Fund (a "Reorganization") whereby all of the assets and liabilities of the Acquired Fund would be transferred to Credit Suisse Large Cap Blend Fund, Inc. (the "Acquiring Fund") in exchange for shares of beneficial interest of the Acquiring Fund. The Acquired Fund would then be liquidated and shares of beneficial interest of the Acquiring Fund would be distributed to the shareholders of the Acquired Fund. The Reorganization is subject to the completion of certain conditions, including the approval of the Acquired Fund's shareholders.

On May 3, 2010, the Board of Trustees of Credit Suisse Small Cap Core Fund, a series of the Credit Suisse Capital Funds (the "Fund"), approved the proposed recommendation to change the investment strategy of the Fund. In late July 2010, the Fund's investment strategy will change to a "large cap blend" strategy whereby the Fund generally will invest at least 80% of its assets, plus any borrowings for investment purposes, in equity securities of U.S. companies with large market capitalizations ("large companies"). As a result of the change of investment strategy, the Fund's name will change to Credit Suisse Large Cap Blend II Fund. For more detailed information, please refer to the Supplement to the Prospectuses and Statement of Additional Information for the Fund dated May 3, 2010.


76





Credit Suisse Large Cap Value Fund
Board Approval of Advisory Agreement
(unaudited)

In approving the renewal of the current Advisory Agreement, the Board of Trustees, including the Independent Trustees, at a meeting held on November 16 and 17, 2009, considered the following factors with respect to the Credit Suisse Large Cap Value Fund (the "Fund"):

Investment Advisory Fee Rates

The Board reviewed and considered the contractual advisory fee rate of 0.50% for the Fund ("Contractual Advisory Fee") in light of the extent and quality of the advisory services provided by Credit Suisse Asset Management, LLC ("Credit Suisse"). The Board also reviewed and considered the fee waivers currently in place for the Fund and considered the actual fee rate of 0.35% paid by the Fund after taking waivers into account ("Net Advisory Fee"). The Board acknowledged that voluntary fee waivers could be discontinued at any time.

Additionally, the Board received and considered information comparing the Fund's Contractual Advisory Fee, Net Advisory Fee and the Fund's overall expenses with those of funds in both the relevant expense group ("Expense Group") and universe of funds ("Expense Universe") provided by Lipper Inc., an independent provider of investment company data.

Nature, Extent and Quality of the Services under the Advisory Agreement

The Board received and considered information regarding the nature, extent and quality of services provided to the Fund by Credit Suisse under the Advisory Agreement. The Board also noted information received at regular meetings throughout the year related to the services rendered by Credit Suisse. The Board reviewed background information about Credit Suisse, including its Form ADV. The Board considered the background and experience of Credit Suisse's senior management and the expertise of, and the amount of attention given to the Fund by, senior personnel of Credit Suisse. In addition, the Board reviewed the qualifications, backgrounds and responsibilities of the portfolio management team primarily responsible for the day-to-day portfolio management of the Fund and the extent of the resources devoted to research and analysis of actual and potential investments. The Board also received and considered information about the nature, extent and quality of services and fee rates offered to other Credit Suisse clients for comparable services.


77




Credit Suisse Large Cap Value Fund
Board Approval of Advisory Agreement
(unaudited) (continued)

Fund Performance

The Board received and considered performance results of the Fund over time, along with comparisons both to the relevant performance group ("Performance Group") and universe of funds ("Performance Universe") for the Fund. The Board was provided with a description of the methodology used to arrive at the funds included in the Performance Group and the Performance Universe.

Credit Suisse Profitability

The Board received and considered a profitability analysis of Credit Suisse based on the fees payable under the Advisory Agreement for the Fund, including any fee waivers, as well as other relationships between the Fund on the one hand and Credit Suisse affiliates on the other. The Board received profitability information for the other funds in the Credit Suisse family of funds.

Economies of Scale

The Board considered whether economies of scale in the provision of services to the Fund were being passed along to the shareholders. Accordingly, the Board considered whether alternative fee structures (such as breakpoint fee structures) would be more appropriate or reasonable taking into consideration economies of scale or other efficiencies that might accrue from increases in the Fund's asset levels.

Other Benefits to Credit Suisse

The Board considered other benefits received by Credit Suisse and its affiliates as a result of their relationship with the Fund. Such benefits include, among others, benefits potentially derived from an increase in Credit Suisse's businesses as a result of its relationship with the Fund (such as the ability to market to shareholders other financial products offered by Credit Suisse and its affiliates).

The Board considered the standards applied in seeking best execution, any benefits that may be achieved by using an affiliated broker and the existence of quality controls applicable to brokerage allocation procedures. The Board also reviewed Credit Suisse's method for allocating portfolio investment opportunities among its advisory clients.


78




Credit Suisse Large Cap Value Fund
Board Approval of Advisory Agreement
(unaudited) (continued)

Conclusions

In selecting Credit Suisse, and approving the Advisory Agreement and the investment advisory fee under such agreement, the Board concluded that:

•  The combined Contractual Advisory Fee and co-administration fees were among the lowest in the Expense Group, and the Net Advisory Fee was the lowest in the Expense Group. The Board considered the fee to be reasonable.

•  The Fund's performance was above the median of its Performance Group and Performance Universe for all time periods.

•  The Board was satisfied with the nature and extent of the investment advisory services provided to the Fund by Credit Suisse and that, based on dialogue with management and counsel, the services provided by Credit Suisse under the Advisory Agreement are typical of, and consistent with, those provided to similar mutual funds by other investment advisers.

•  In light of the costs of providing investment management and other services to the Fund and Credit Suisse's ongoing commitment to the Fund and willingness to waive fees, the profits and other ancillary benefits that Credit Suisse and its affiliates received were considered reasonable.

•  Credit Suisse's profitability based on fees payable under the Advisory Agreement was reasonable in light of the nature, extent and quality of the services provided to the Fund thereunder.

•  In light of the combined Contractual Advisory Fee and co-administration fee, as well as the fee waivers and the Net Advisory Fee, the Fund's current fee structure (without breakpoints) was considered reasonable.

No single factor reviewed by the Board was identified by the Board as the principal factor in determining whether to approve the Advisory Agreement. The Independent Trustees were advised by separate independent legal counsel throughout the process.


79




Credit Suisse Small Cap Core Fund
Board Approval of Advisory Agreement
(unaudited)

In approving the renewal of the current Advisory Agreement, the Board of Trustees, including the Independent Trustees, at a meeting held on November 16 and 17, 2009, considered the following factors with respect to the Credit Suisse Small Cap Core Fund (the "Fund"):

Investment Advisory Fee Rates

The Board reviewed and considered the contractual advisory fee that is assessed at the lower of (a) 0.70% of the Fund's average daily net assets or (b) 0.875% of its average daily net assets up to $100 million, 0.75% of its average daily net assets in excess of $100 million but less than $200 million and 0.625% of its average daily net assets over $200 million ("Contractual Advisory Fee") in light of the extent and quality of the advisory services provided by Credit Suisse Asset Management, LLC ("Credit Suisse"). The Board also reviewed and considered the fee waivers currently in place for the Fund and considered the actual fee rate of 0.36% paid by the Fund after taking waivers and breakpoints into account ("Net Advisory Fee"). The Board acknowledged that voluntary fee waivers could be discontinued at any time.

Additionally, the Board received and considered information comparing the Fund's Contractual Advisory Fee, Net Advisory Fee and the Fund's overall expenses with those of funds in both the relevant expense group ("Expense Group") and universe of funds ("Expense Universe") provided by Lipper Inc., an independent provider of investment company data.

Nature, Extent and Quality of the Services under the Advisory Agreement

The Board received and considered information regarding the nature, extent and quality of services provided to the Fund by Credit Suisse under the Advisory Agreement. The Board also noted information received at regular meetings throughout the year related to the services rendered by Credit Suisse. The Board reviewed background information about Credit Suisse, including its Form ADV. The Board considered the background and experience of Credit Suisse's senior management and the expertise of, and the amount of attention given to the Fund by, senior personnel of Credit Suisse. In addition, the Board reviewed the qualifications, backgrounds and responsibilities of the portfolio management team primarily responsible for the day-to-day portfolio management of the Fund and the extent of the resources devoted to research and analysis of actual and potential investments. The Board also received and considered information about the nature, extent and quality of services and fee rates offered to other Credit Suisse clients for comparable services.


80




Credit Suisse Small Cap Core Fund
Board Approval of Advisory Agreement
(unaudited) (continued)

Fund Performance

The Board received and considered performance results of the Fund over time, along with comparisons both to the relevant performance group ("Performance Group") and universe of funds ("Performance Universe") for the Fund. The Board was provided with a description of the methodology used to arrive at the funds included in the Performance Group and the Performance Universe.

Credit Suisse Profitability

The Board received and considered a profitability analysis of Credit Suisse based on the fees payable under the Advisory Agreement for the Fund, including any fee waivers, as well as other relationships between the Fund on the one hand and Credit Suisse affiliates on the other. The Board received profitability information for the other funds in the Credit Suisse family of funds.

Economies of Scale

The Board considered whether economies of scale in the provision of services to the Fund were being passed along to the shareholders. Accordingly, the Board considered whether the breakpoints in the Fund's advisory fee structure were appropriate or reasonable taking into consideration economies of scale or other efficiencies that might accrue from increases in the Fund's asset levels.

Other Benefits to Credit Suisse

The Board considered other benefits received by Credit Suisse and its affiliates as a result of their relationship with the Fund. Such benefits include, among others, benefits potentially derived from an increase in Credit Suisse's businesses as a result of its relationship with the Fund (such as the ability to market to shareholders other financial products offered by Credit Suisse and its affiliates).

The Board considered the standards applied in seeking best execution, any benefits that may be achieved by using an affiliated broker and the existence of quality controls applicable to brokerage allocation procedures. The Board also reviewed Credit Suisse's method for allocating portfolio investment opportunities among its advisory clients.


81




Credit Suisse Small Cap Core Fund
Board Approval of Advisory Agreement
(unaudited) (continued)

Conclusions

In selecting Credit Suisse, and approving the Advisory Agreement and the investment advisory fee under such agreement, the Board concluded that:

•  Although the combined Contractual Advisory Fee and co-administration fees were slightly above the median of the Fund's Expense Group, the fee was considered reasonable, recognizing that the Net Advisory Fee was the lowest in the Expense Group.

•  The Fund's performance was below the median for all periods in its Performance Group and Performance Universe except for the ten year period in the Performance Group. The Board determined that it would continue to monitor steps taken by Credit Suisse to improve performance.

•  Aside from performance (as discussed above), the Board was satisfied with the nature and extent of the investment advisory services provided to the Fund by Credit Suisse and that, based on dialogue with management and counsel, the services provided by Credit Suisse under the Advisory Agreement are typical of, and consistent with, those provided to similar mutual funds by other investment advisers.

•  In light of the costs of providing investment management and other services to the Fund and Credit Suisse's ongoing commitment to the Fund and willingness to waive fees, the profits and other ancillary benefits that Credit Suisse and its affiliates received were considered reasonable.

•  Credit Suisse's profitability based on fees payable under the Advisory Agreement was reasonable in light of the nature, extent and quality of the services provided to the Fund thereunder.

•  The Fund's current fee structure was considered reasonable in light of fee waivers, the Net Advisory Fee and the existence of breakpoints, which enable shareholders to share in economies of scale as the Fund grows.

No single factor reviewed by the Board was identified by the Board as the principal factor in determining whether to approve the Advisory Agreement. The Independent Trustees were advised by separate independent legal counsel throughout the process.


82




Credit Suisse Funds
Notice of Privacy and Information Practices
(unaudited)

At Credit Suisse, we know that you are concerned with how we protect and handle nonpublic personal information that identifies you. This notice is designed to help you understand what nonpublic personal information we collect from you and from other sources, and how we use that information in connection with your investments and investment choices that may be available to you. Except where otherwise noted, this notice is applicable only to consumers who are current or former investors, meaning individual persons whose investments are primarily for household, family or personal use ("individual investors"). Specified sections of this notice, however, also apply to other types of investors (called "institutional investors"). Where the notice applies to institutional investors, the notice expressly states so. This notice is being provided by Credit Suisse Funds and Credit Suisse Closed-End Funds. This notice applies solely to U.S. registered investment companies advised by Credit Suisse Asset Management, LLC.

Categories of information we may collect:

We may collect information about you, including nonpublic personal information, such as

•  Information we receive from you on applications, forms, agreements, questionnaires, Credit Suisse websites and other websites that are part of our investment program, or in the course of establishing or maintaining a customer relationship, such as your name, address, e-mail address, Social Security number, assets, income, financial situation; and

•  Information we obtain from your transactions and experiences with us, our affiliates, or others, such as your account balances or other investment information, assets purchased and sold, and other parties to a transaction, where applicable.

Categories of information we disclose and parties to whom we disclose it:

•  We do not disclose nonpublic personal information about our individual investors, except as permitted or required by law or regulation. Whether you are an individual investor or institutional investor, we may share the information described above with our affiliates that perform services on our behalf, and with our asset management and private banking affiliates; as well as with unaffiliated third parties that perform services on our behalf, such as our accountants, auditors, attorneys, broker-dealers, fund administrators, and other service providers.


83




Credit Suisse Funds
Notice of Privacy and Information Practices
(unaudited) (continued)

•  We want our investors to be informed about additional products or services. Whether you are an individual investor or an institutional investor, we may disclose information, including nonpublic personal information, regarding our transactions and experiences with you to our affiliates.

•  In addition, whether you are an individual investor or an institutional investor, we reserve the right to disclose information, including nonpublic personal information, about you to any person or entity, including without limitation any governmental agency, regulatory authority or self-regulatory organization having jurisdiction over us or our affiliates, if (i) we determine in our discretion that such disclosure is necessary or advisable pursuant to or in connection with any United States federal, state or local, or non-U.S., court order (or other legal process), law, rule, regulation, or executive order or policy, including without limitation any anti-money laundering law or the USA PATRIOT Act of 2001; and (ii) such disclosure is not otherwise prohibited by law, rule, regulation, or executive order or policy.

Confidentiality and security

•  To protect nonpublic personal information about individual investors, we restrict access to those employees and agents who need to know that information to provide products or services to us and to our investors. We maintain physical, electronic, and procedural safeguards to protect nonpublic personal information.

Other Disclosures

This notice is not intended to be incorporated in any offering materials, but is a statement of our current Notice of Privacy and Information Practices and may be amended from time to time. This notice is current as of May 3, 2010.


84




Credit Suisse Funds
Proxy Voting and Portfolio Holdings Information
(unaudited)

Information regarding how each Fund voted proxies related to its portfolio securities during the 12 month period ended June 30 of each year, as well as the policies and procedures that each Fund uses to determine how to vote proxies relating to its portfolio securities are available:

•  By calling 1-877-870-2874

•  On the Funds' website, www.credit-suisse.com/us

•  On the website of the Securities and Exchange Commission, www.sec.gov.

Each Fund files a complete schedule of its portfolio holdings for the first and third quarters of its fiscal year with the SEC on Form N-Q. The Funds' Forms N-Q are available on the SEC's website at www.sec.gov and may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information on the operation of the SEC's Public Reference Room may be obtained by calling 1-202-551-8090.


85




P.O. BOX 55030, BOSTON, MA 02205-5030

877-870-2874 n www.credit-suisse.com/us

CREDIT SUISSE ASSET MANAGEMENT SECURITIES, INC., DISTRIBUTOR.  USEQVAL-SAR-0410




 

Item 2. Code of Ethics.

 

This item is inapplicable to a semi-annual report on Form N-CSR.

 

Item 3. Audit Committee Financial Expert.

 

This item is inapplicable to a semi-annual report on Form N-CSR.

 

Item 4. Principal Accountant Fees and Services.

 

This item is inapplicable to a semi-annual report on Form N-CSR.

 

Item 5. Audit Committee of Listed Registrants.

 

This item is not applicable to the registrant.

 

Item 6. Schedule of Investments.

 

Included as part of the report to shareholders filed under Item 1 of this Form.

 

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

 

This item is not applicable to the registrant.

 

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

 

This item is not applicable to the registrant.

 

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

 

This item is not applicable to the registrant.

 

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

 

The Nominating Committee recommends Board member candidates.  Shareholders of the registrant may also submit nominees that will be considered by the Committee.  Recommendations should be mailed to the registrant’s Secretary, c/o Credit Suisse Asset Management, LLC, Eleven Madison Avenue, New York, NY 10010.  Any submission should include at a minimum the following information: the name, age, business address, residence address and principal occupation or employment of such individual; the class, series and number of shares of the registrant that are beneficially owned by such individual; the date such shares were acquired and the investment intent of such acquisition; whether such shareholder believes such individual is, or is not, an “interested person” of the registrant (as defined in the Investment Company Act of 1940) and information regarding such individual that is sufficient, in the Committee’s discretion, to make such determination; and all other information relating to such individual that is required to be disclosed in solicitation of proxies for election of directors in an election contest (even if an election contest is not involved) or is otherwise required pursuant to the rules for proxy materials under the Securities Exchange Act of 1934.

 

Item 11. Controls and Procedures.

 

(a) As of a date within 90 days from the filing date of this report, the principal executive officer and principal financial officer concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “Act”)) were effective

 



 

based on their evaluation of the disclosure controls and procedures required by Rule 30a-3(b) under the Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934.

 

(b) There were no changes in registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the registrant’s last fiscal half-year that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

Item 12. Exhibits.

 

(a)(1)       Not applicable.

 

(a)(2)       The certifications of the registrant as required by Rule 30a-2(a) under the Act are exhibits to this report.

 

(a)(3)       Not applicable.

 

(b)           The certifications of the registrant as required by Rule 30a-2(b) under the Act are an exhibit to this report.

 



 

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.

 

CREDIT SUISSE CAPITAL FUNDS

 

/s/John G. Popp

 

Name:

John G. Popp

Title:

Chief Executive Officer

Date:

July 6, 2010

 

 

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.

 

/s/John G. Popp

 

Name:

John G. Popp

Title:

Chief Executive Officer

Date:

July 6, 2010

 

 

 

 

/s/Michael A. Pignataro

 

Name:

Michael A. Pignataro

Title:

Chief Financial Officer

Date:

July 6, 2010