-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, BNXPqOA5ujzFkmsmEVPto25G9dHa87TxbnfHT4joNPhk+kWVWEKyp4ChkuKK16uF 2fh6zvOwJKuiFlu4dLAEvQ== 0000935069-06-002316.txt : 20060828 0000935069-06-002316.hdr.sgml : 20060828 20060828125157 ACCESSION NUMBER: 0000935069-06-002316 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20060630 FILED AS OF DATE: 20060828 DATE AS OF CHANGE: 20060828 EFFECTIVENESS DATE: 20060828 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SEI INSTITUTIONAL INTERNATIONAL TRUST CENTRAL INDEX KEY: 0000835597 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-05601 FILM NUMBER: 061057885 BUSINESS ADDRESS: STREET 1: SEI INVESTMENTS ATTN: CAREN ROSCH STREET 2: 1FREEDOM CIRCLE DRIVE CITY: OAKS STATE: PA ZIP: 19456 BUSINESS PHONE: 610 676-3097 MAIL ADDRESS: STREET 1: SEI INVESTMENTS ATTN: CAREN ROSCH STREET 2: 1FREEDOM CIRCLE DRIVE CITY: OAKS STATE: PA ZIP: 19456 FORMER COMPANY: FORMER CONFORMED NAME: SEI INTERNATIONAL TRUST DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: SEI WEALTH MANAGEMENT TRUST DATE OF NAME CHANGE: 19900129 0000835597 S000006418 SIT INTERNATIONAL EQUITY PORTFOLIO C000017606 SIT INTERNATIONAL EQUITY PORTFOLIO - CLASS I C000017607 SIT INTERNATIONAL EQUITY PORTFOLIO - TRUST CLASS SEITX 0000835597 S000006419 SIT INTERNATIONAL FIXED INCOME PORTFOLIO C000017608 SIT INTERNATIONAL FIXED INCOME PORTFOLIO - TRUST CLASS SEFIX 0000835597 S000006420 SIT EMERGING MARKETS EQUITY PORTFOLIO C000017609 SIT EMERGING MARKETS EQUITY PORTFOLIO - TRUST CLASS SIEMX 0000835597 S000006421 SIT EMERGING MARKETS DEBT PORTFOLIO C000017610 SIT EMERGING MARKETS DEBT PORTFOLIO - TRUST CLASS SITEX 0000835597 S000010879 SIT TAX MANAGED INTERNATIONAL EQUITY FUND C000030143 SIT TAX MANAGED INTERNATIONAL EQUITY FUND - CLASS A N-Q 1 siitcombnq606.txt SIIT NQ COMBINED 6_06 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 -------- FORM N-Q -------- QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY INVESTMENT COMPANY ACT FILE NUMBER 811-5601 SEI INSTITUTIONAL INTERNATIONAL TRUST (Exact name of registrant as specified in charter) -------- c/o CT Corporation 101 Federal Street Boston, MA 02110 (Address of principal executive offices) (Zip code) SEI Investments One Freedom Valley Drive Oaks, PA 19456 (Name and address of agent for service) REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: 1-800-342-5734 DATE OF FISCAL YEAR END: SEPTEMBER 30, 2006 DATE OF REPORTING PERIOD: JUNE 30, 2006 ITEM 1. SCHEDULE OF INVESTMENTS - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) International Equity Fund June 30, 2006 - -------------------------------------------------------------------------------- Market Value Description Shares ($ Thousands) - -------------------------------------------------------------------------------- COMMON STOCK -- 85.4% AUSTRALIA -- 2.2% Alumina 180,747 $ 906 Amcor 423,683 2,103 Australia & New Zealand Banking Group 168,545 3,330 Babcock & Brown 37,838 610 BHP Billiton 373,012 8,037 BlueScope Steel 93,987 555 Brambles Industries (B) 55,521 454 Cochlear 28,304 1,149 Coles Myer 57,624 486 Commonwealth Bank of Australia 46,843 1,546 Computershare 72,284 422 CSL 40,167 1,604 CSR 1,012,253 2,519 Foster's Group 1,186,451 4,822 GPT Group 341,221 1,100 Harvey Norman Holdings 1,036,600 3,034 Insurance Australia Group 361,473 1,437 Leighton Holdings 128,000 1,650 Macquarie Airports 1,307,521 2,982 Macquarie Bank 32,369 1,659 Macquarie Infrastructure Group 175,734 439 Mayne Group 463,800 1,054 Mayne Pharma * 147,069 284 Mirvac Group 239,606 774 National Australia Bank 44,040 1,150 Newcrest Mining 72,800 1,140 OneSteel 724,801 2,192 Orica 156,813 2,783 Pacific Brands 50,080 80 Promina Group 217,343 907 Qantas Airways 580,274 1,276 QBE Insurance Group 775,181 11,806 Rinker Group 288,384 3,512 Rio Tinto 60,099 3,474 Telstra 106,938 292 Woodside Petroleum 10,515 344 Woolworths 279,848 4,189 WorleyParsons 41,091 614 Zinifex * 20,760 155 ------------ 76,870 ------------ AUSTRIA -- 0.5% Andritz 1,704 282 Boehler-Uddeholm 7,468 408 Erste Bank der Oesterreichischen Sparkassen 17,501 985 OMV (B) 81,038 4,823 Raiffeisen International Bank Holding 7,018 609 Telekom Austria 302,184 6,727 Voestalpine 22,600 3,433 ------------ 17,267 ------------ BELGIUM -- 0.9% Bekaert * 10,200 980 Delhaize Group 44,391 3,076 Dexia 117,757 2,831 Fortis 259,911 8,847 Fortis (Netherlands Line) 161,087 5,493 InBev 22,800 1,118 KBC Groep 69,838 7,492 - -------------------------------------------------------------------------------- Market Value Description Shares ($ Thousands) - -------------------------------------------------------------------------------- UCB (B) 29,750 $ 1,609 Umicore 7,600 1,015 ------------ 32,461 ------------ BRAZIL -- 0.1% Gerdau ADR 138,375 2,063 Uniao de Bancos Brasileiros ADR 13,800 916 ------------ 2,979 ------------ CANADA -- 1.6% Abitibi-Consolidated (B) 116,200 314 Alcan (B) 139,800 6,573 Cameco (B) 118,000 4,719 Canadian Natural Resources (B) 169,000 9,379 Inco 35,900 2,366 Methanex (B) 51,300 1,085 Potash Saskatchewan (B) 37,300 3,206 Rogers Communications, Cl B (B) 222,400 8,981 Suncor Energy (B) 24,800 2,015 Teck Cominco, Cl B (B) 205,300 12,365 TELUS (B) 73,800 2,990 Toronto-Dominion Bank (B) 19,500 994 ------------ 54,987 ------------ CHINA -- 0.0% China Petroleum & Chemical, Cl H (B) 2,176,000 1,247 Foxconn International Holdings * 124,000 265 ------------ 1,512 ------------ DENMARK -- 0.3% AP Moller - Maersk 63 490 Carlsberg, Cl B 6,200 453 Danske Bank 39,200 1,492 Novo-Nordisk, Cl B 35,600 2,267 TDC 700 23 Topdanmark * 11,950 1,665 Vestas Wind Systems * 103,300 2,824 William Demant Holding * 7,100 531 ------------ 9,745 ------------ FINLAND -- 1.2% Fortum 563,108 14,401 Kesko, Cl B 15,100 579 Metso 32,376 1,175 Neste Oil 33,950 1,196 Nokia 479,889 9,793 Nokia ADR 69,800 1,414 Outokumpu 141,300 3,306 Rautaruukki 13,050 394 Sampo, Cl A 72,600 1,385 Stora Enso, Cl R 155,800 2,175 UPM-Kymmene 107,900 2,325 Wartsila, Cl B 6,900 291 YIT 82,000 2,010 ------------ 40,444 ------------ FRANCE -- 9.4% Accor (B) 18,817 1,145 Air France-KLM (B) 243,332 5,719 Air Liquide (B) 7,691 1,498 Alcatel (B) 85,500 1,084 Arkema * 12,713 496 - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) International Equity Fund June 30, 2006 - -------------------------------------------------------------------------------- Market Value Description Shares ($ Thousands) - -------------------------------------------------------------------------------- Assurances Generales de France (B) 182,650 $ 21,545 AXA (B) 307,265 10,081 BNP Paribas (B) 382,517 36,610 Bouygues (B) 342,990 17,630 Business Objects * 3,929 107 Capgemini (B) 244,470 13,951 Casino Guichard Perrachon (B) 15,664 1,191 Cie de Saint-Gobain (B) 55,030 3,933 Cie Generale d'Optique Essilor International (B) 14,320 1,441 Compagnie Generale des Etablissements Michelin, Cl B (B) 15,303 920 Credit Agricole (B) 305,719 11,630 Dassault Systemes (B) 16,662 893 France Telecom (B) 557,267 11,978 Groupe Danone (B) 107,717 13,684 L'Oreal (B) 35,625 3,364 Lafarge (B) 62,774 7,878 PagesJaunes Groupe (B) 29,500 926 Pernod-Ricard (B) 776 154 PPR (B) 9,500 1,211 Publicis Groupe (B) 40,517 1,565 Renault (B) 205,019 22,020 Sanofi-Aventis (B) 332,455 32,435 Sanofi-Aventis 2,125 207 Schneider Electric (B) 76,246 7,946 SCOR 119,755 262 Societe Generale (B) 159,586 23,466 Suez * (B) 29,241 1,215 Thales (B) 24,100 941 Total * (B) 621,780 40,905 Vallourec * (B) 1,337 1,607 Veolia Environnement (B) 33,600 1,736 Vinci (B) 113,650 11,705 Vivendi (B) 151,728 5,316 ------------ 320,395 ------------ GERMANY -- 5.9% Allianz (B) 93,853 14,823 Altana 20,472 1,140 BASF (B) 65,802 5,282 Bayer (B) 367,238 16,876 Bayerische Motoren Werke (B) 99,132 4,951 Celesio (B) 2,316 211 Commerzbank (B) 422,183 15,353 Continental (B) 150,796 15,410 DaimlerChrysler (B) 167,423 8,270 Deutsche Bank (B) 82,313 9,262 Deutsche Boerse 6,575 895 Deutsche Lufthansa 273,500 5,036 Deutsche Post (B) 57,787 1,549 Deutsche Telekom (B) 39,632 638 E.ON (B) 141,662 16,306 Fresenius Medical Care (B) 67,800 7,792 Hypo Real Estate Holding (B) 131,000 7,955 Linde (B) 1,911 147 MAN (B) 103,074 7,462 Merck KGaA 80,850 7,350 Muenchener Rueckversicherungs (B) 99,693 13,615 RWE (B) 183,221 15,240 SAP (B) 25,915 5,468 SAP ADR 10,800 567 Siemens (B) 136,009 11,831 ThyssenKrupp (B) 121,536 4,160 Volkswagen (B) 55,161 3,867 - -------------------------------------------------------------------------------- Market Value Description Shares ($ Thousands) - -------------------------------------------------------------------------------- Wincor Nixdorf (B) 2,574 $ 329 ------------ 201,785 ------------ GREECE -- 0.2% Alpha Bank 22,256 554 Coca Cola Hellenic Bottling 14,970 446 National Bank of Greece 33,330 1,316 OPAP 70,820 2,563 Piraeus Bank 22,688 539 Titan Cement 6,200 291 ------------ 5,709 ------------ HONG KONG -- 1.1% ASM Pacific Technology (B) 70,000 341 Bank of East Asia 341,100 1,403 BOC Hong Kong Holdings 518,000 1,014 Cheung Kong Holdings 140,000 1,517 China Mobile Hong Kong (B) 1,569,000 8,969 China Netcom Group 203,500 356 CLP Holdings 149,500 875 Hang Lung Group 248,000 536 Hang Lung Properties 1,159,100 2,074 Henderson Land Development 348,700 1,812 Hong Kong Exchanges and Clearing 548,500 3,527 Hopewell Holdings 124,000 350 Hysan Development 440,000 1,241 Kingboard Chemical Holdings 157,000 443 Li & Fung (B) 651,200 1,316 New World Development 2,001,800 3,299 PCCW (B) 1,238,000 885 Sino Land (B) 1,152,359 1,840 Sun Hung Kai Properties 162,000 1,652 Swire Pacific, Cl A 430,100 4,438 Wharf Holdings 96,000 341 ------------ 38,229 ------------ HUNGARY -- 0.2% Mol Magyar Olaj-es Gazipari 68,265 7,011 ------------ INDIA -- 0.0% Punjab National Bank 90,000 636 ------------ IRELAND -- 0.6% Anglo Irish Bank 467,350 7,291 Bank of Ireland 88,546 1,579 Blackrock International Land * 71,486 34 CRH 242,771 7,891 DCC 6,836 164 Depfa Bank 126,886 2,103 Fyffes 71,486 126 ------------ 19,188 ------------ ISRAEL -- 0.1% Bank Hapoalim 445,000 1,893 Teva Pharmaceutical Industries ADR 25,000 790 ------------ 2,683 ------------ ITALY -- 2.4% Banca Fideuram * 89,581 521 Banca Intesa 1,011,096 5,921 Banca Intesa RNC (B) 39,817 216 - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) International Equity Fund June 30, 2006 - -------------------------------------------------------------------------------- Market Value Description Shares ($ Thousands) - -------------------------------------------------------------------------------- Banca Monte dei Paschi di Siena (B) 285,122 $ 1,714 Banca Popolare di Milano 105,467 1,344 Banche Popolari Unite 100,790 2,607 Banco Popolare di Verona e Novara 81,610 2,186 Benetton Group (B) 250,100 3,735 Buzzi Unicem (B) 49,800 1,142 Capitalia 299,631 2,458 Enel (B) 40,099 346 ENI - Ente Nazionale Idrocarburi (B) 814,986 23,999 Fiat (B) 707,600 9,419 Fiat RNC * 195,290 2,405 IFIL - Investments 806,700 4,580 Italcementi (B) 69,881 1,767 Luxottica Group 9,730 264 Recordati 201,400 1,470 Sanpaolo IMI 65,200 1,153 Telecom Italia RNC 316,507 818 UniCredito Italiano 1,904,889 14,907 ------------ 82,972 ------------ JAPAN -- 21.0% Advantest 37,800 3,856 Aeon 151,000 3,315 Aisin Seiki 100,700 2,995 Amada 257,000 2,698 Asatsu-DK (B) 57,600 1,864 Astellas Pharma 135,200 4,967 Autobacs Seven 41,100 1,790 Bank of Fukuoka (B) 147,000 1,119 Bank of Kyoto (B) 94,000 1,016 Canon 503,271 24,698 Canon Sales (B) 6,000 124 Central Glass (B) 250,000 1,489 Central Japan Railway 768 7,659 Chiba Bank 98,000 917 Chiyoda * (B)* 67,000 1,371 Chubu Electric Power (B) 22,800 616 Citizen Watch 123,900 1,124 COMSYS Holdings (B) 211,000 2,606 Dai Nippon Printing 426,000 6,596 Daicel Chemical Industries (B) 217,000 1,775 Daido Steel (B) 76,000 597 Daiichi Sankyo 54,001 1,488 Daimaru (B) 75,000 995 Dainippon Screen Manufacturing * (B) 63,000 578 Daito Trust Construction (B) 25,300 1,403 Daiwa House Industry * 67,000 1,073 Daiwa Securities Group 878,900 10,487 Denki Kagaku Kogyo (B) 282,000 1,174 Denso 124,700 4,080 East Japan Railway (B) 271 2,015 EDION 49,400 981 Eisai (B) 20,000 901 Electric Power Development 8,980 342 Elpida Memory * 43,000 1,617 Fanuc 53,800 4,838 Fuji Soft ABC 40,000 1,319 Fuji Television Network 500 1,111 Fujikura 323,000 3,569 Fujitsu 149,000 1,156 Gunze * 88,000 525 Hankyu Department Stores (B) 134,000 1,041 Hankyu Holdings * (B) 111,000 544 Hino Motors (B) 558,000 3,251 Hirose Electric (B) 11,300 1,374 - -------------------------------------------------------------------------------- Market Value Description Shares ($ Thousands) - -------------------------------------------------------------------------------- Hitachi 663,000 $ 4,385 Hitachi Chemical 10,200 268 Hitachi Construction Machinery (B) 12,700 306 Hitachi Software Engineering 66,100 1,123 Hokkaido Electric Power (B) 49,581 1,178 Honda Motor 388,420 12,334 Hoya 78,100 2,781 Ibiden 20,500 986 Itochu 1,166,000 10,251 Itochu Techno-Science (B) 40,800 1,881 Japan Steel Works * 1,073,200 7,360 Japan Tobacco 2,311 8,430 JFE Holdings (B) 320,300 13,589 JS Group (B) 98,600 2,074 JTEKT 55,500 1,073 Kajima 107,000 491 Kamigumi 29,000 220 Kansai Electric Power 397,944 8,912 Kansai Paint 122,800 981 Kao 426,000 11,161 KDDI (B) 265 1,630 Kobe Steel 1,705,000 5,340 Komatsu 178,000 3,542 Komori 64,000 1,363 Kubota (B) 152,000 1,443 Kyocera (B) 8,000 620 Kyushu Electric Power (B) 82,000 1,908 Lawson 79,800 2,911 Leopalace21 123,000 4,250 Mabuchi Motor (B) 33,600 2,010 Makita (B) 51,100 1,618 Marubeni (B) 274,000 1,462 Matsui Securities (B) 36,600 347 Matsushita Electric Industrial (B) 272,470 5,756 Matsushita Electric Works (B) 52,000 578 Millea Holdings (B) 225 4,192 Mitsubishi 1,094,800 21,884 Mitsubishi Chemical Holdings 148,500 929 Mitsubishi Electric (B) 1,103,000 8,848 Mitsubishi Estate 189,900 4,037 Mitsubishi Gas Chemical 168,000 1,928 Mitsubishi Heavy Industries (B) 1,005,400 4,345 Mitsubishi Materials (B) 225,000 961 Mitsubishi Rayon (B) 146,000 1,190 Mitsubishi UFJ Financial Group 2,345 32,816 Mitsubishi UFJ Securities (B) 242,000 3,125 Mitsui 325,000 4,594 Mitsui Chemicals 806,000 5,267 Mitsui Fudosan 56,000 1,217 Mitsui Mining & Smelting * 34,000 201 Mitsui OSK Lines 861,000 5,860 Mitsui Sumitomo Insurance 585,900 7,365 Mitsui Trust Holdings * 120,000 1,443 Mitsumi Electric * 114,500 1,356 Mizuho Financial Group * (B) 1,818 15,410 Murata Manufacturing (B) 15,400 1,001 NEC (B) 388,000 2,070 NGK Spark Plug (B) 154,600 3,111 NHK Spring (B) 38,000 438 Nichirei 247,200 1,323 Nidec (B) 16,700 1,198 Nikko Cordial 77,500 993 Nikon (B) 141,000 2,464 Nintendo 27,500 4,619 Nippon Electric Glass 125,000 2,510 Nippon Express 36,000 195 Nippon Kayaku 225,000 1,876 - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) International Equity Fund June 30, 2006 - -------------------------------------------------------------------------------- Market Value Description Shares ($ Thousands) - -------------------------------------------------------------------------------- Nippon Mining Holdings 212,000 $ 1,786 Nippon Oil (B) 248,000 1,814 Nippon Sheet Glass 26,000 145 Nippon Shokubai (B) 93,000 1,138 Nippon Telegraph & Telephone 2,742 13,456 Nippon Yusen Kabushiki Kaisha (B) 440,000 2,864 Nissan Motor 946,900 10,354 Nisshin Seifun Group (B) 239,900 2,676 Nisshin Steel (B) 724,000 2,331 Nisshinbo Industries 123,800 1,356 Nissin Food Products (B) 5,100 180 Nitori (B) 6,550 319 Nitto Denko (B) 71,300 5,083 Nomura Holdings (B) 78,600 1,475 NSK 107,000 888 NTN (B) 284,900 2,255 NTT Data (B) 363 1,572 NTT DoCoMo 3,928 5,773 Obayashi (B) 456,000 3,139 Odakyu Electric Railway (B) 177,000 1,143 Oki Electric Industry (B) 878,000 2,074 Omron 24,900 635 Oriental Land (B) 66,000 3,718 ORIX * (B) 79,310 19,391 Osaka Gas 1,262,000 4,063 Promise 19,900 1,154 Ricoh (B) 206,000 4,046 Rinnai (B) 57,800 1,532 Rohm 15,400 1,378 Sankyo 19,700 1,253 Santen Pharmaceutical (B) 19,000 452 Sanwa Shutter (B) 223,000 1,315 Sega Sammy Holdings 158,010 5,861 Shimamura (B) 10,300 1,130 Shimizu 105,000 589 Shin-Etsu Chemical 58,400 3,178 Shinko Securities 207,000 876 Shinsei Bank 1,261,000 7,997 Shiseido (B) 23,000 452 Showa Shell Sekiyu (B) 16,000 188 SMC (B) 29,200 4,135 Softbank (B) 338,900 7,604 Sompo Japan Insurance (B) 221,000 3,093 Sony (B) 19,400 857 Stanley Electric 23,400 483 Sumitomo 603,000 7,960 Sumitomo Bakelite 143,000 1,343 Sumitomo Chemical 146,000 1,218 Sumitomo Electric Industries 276,400 4,052 Sumitomo Forestry (B) 66,000 688 Sumitomo Heavy Industries * (B) 532,000 4,924 Sumitomo Metal Industries 1,239,000 5,116 Sumitomo Metal Mining 83,000 1,083 Sumitomo Mitsui Financial Group (B) 2,762 29,235 Sumitomo Osaka Cement 352,000 1,084 Sumitomo Realty & Development (B) 83,000 2,048 Sumitomo Trust & Banking (B) 526,900 5,761 Suzuken 24,300 965 Suzuki Motor 211,500 4,579 T&D Holdings (B) 62,000 5,017 Taiyo Nippon Sanso 270,000 2,145 Takeda Pharmaceutical 216,200 13,466 Takefuji 23,120 1,379 Tanabe Seiyaku 36,000 443 TDK 50,800 3,866 - -------------------------------------------------------------------------------- Market Value Description Shares ($ Thousands) - -------------------------------------------------------------------------------- Teijin 305,000 $ 1,937 TIS 41,000 1,148 Tokyo Electric Power 317,200 8,768 Tokyo Electron 116,400 8,146 Tokyo Gas (B) 275,000 1,297 Tokyo Steel Manufacturing 133,900 2,934 Tokyo Style * 141,000 1,679 Tokyo Tatemono 48,000 515 Tokyu (B) 328,000 1,917 Toppan Printing (B) 90,900 1,029 Toray Industries (B) 227,000 1,972 Toshiba (B) 314,000 2,052 Toyo Suisan Kaisha 24,000 376 Toyobo * 390,000 1,105 Toyota Industries 27,200 1,075 Toyota Motor 543,900 28,500 Trend Micro (B) 62,500 2,110 Ushio * (B) 48,600 1,027 USS 7,120 471 West Japan Railway 400 1,662 Yahoo! Japan 5,150 2,730 Yamada Denki * 105,750 10,796 Yamaha (B) 149,900 2,819 Yamaha Motor (B) 46,300 1,211 Yamato Transport (B) 187,800 3,335 ------------ 716,566 ------------ LUXEMBOURG -- 0.5% Arcelor (B) 248,462 11,990 SES Global FDR (Paris Exchange) 240,090 3,408 ------------ 15,398 ------------ MEXICO -- 0.6% America Movil ADR, Ser L 338,950 11,273 Fomento Economico Mexicano ADR 96,460 8,076 ------------ 19,349 ------------ NETHERLANDS -- 4.7% ABN AMRO Holding 311,151 8,510 Aegon 581,923 9,948 Akzo Nobel 230,338 12,417 CSM (B) 88,082 2,451 DSM 69,585 2,897 European Aeronautic Defense and Space (B) 322,959 9,275 Fugro * 3,516 152 Heineken 55,176 2,339 Heineken Holding (B) 65,662 2,421 ING Groep 1,067,827 41,958 James Hardie Industries 95,329 545 Koninklijke Philips Electronics 44,223 1,381 OCE 32,576 478 Randstad Holdings 16,943 993 Reed Elsevier 57,850 870 Royal Dutch Shell, Cl A (GBP) 91,698 3,087 Royal Dutch Shell, Cl A 781,619 26,285 Royal Dutch Shell, Cl B 275,645 9,641 Royal KPN (B) 632,690 7,111 Royal Numico (B) 24,314 1,091 Unilever * 735,134 16,666 Wereldhave + 2,451 238 ------------ 160,754 ------------ - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) International Equity Fund June 30, 2006 - -------------------------------------------------------------------------------- Market Value Description Shares ($ Thousands) - -------------------------------------------------------------------------------- NEW ZEALAND -- 0.1% Fisher & Paykel Appliances Holdings 47,116 $ 133 Fletcher Building 257,485 1,437 Telecom of New Zealand 121,594 300 ------------ 1,870 ------------ NORWAY -- 0.8% DNB 273,300 3,393 Norsk Hydro (B) 408,455 10,831 Norske Skogindustrier 77,142 1,131 Orkla 17,350 805 Statoil 313,250 8,885 Yara International 45,300 604 ------------ 25,649 ------------ PHILIPPINES -- 0.0% Philippine Long Distance Telephone 21,400 737 ------------ PORTUGAL -- 0.3% Banco Comercial Portugues 796,390 2,261 Banco Espirito Santo (B) 25,990 350 Cimpor Cimentos de Portugal (B) 31,672 211 Energias de Portugal (B) 1,706,438 6,698 Portugal Telecom 17,198 208 Sonae Industria * 1 -- ------------ 9,728 ------------ SINGAPORE -- 0.7% CapitaLand (B) 391,800 1,115 City Developments (B) 240,000 1,419 DBS Group Holdings (B) 207,800 2,378 Flextronics International 257,000 2,729 Keppel 31,000 288 Keppel Land (B) 415,000 1,060 MCL Land 1 -- Oversea-Chinese Banking (B) 333,100 1,390 Singapore Airlines (B) 314,500 2,526 Singapore Exchange * (B) 431,500 961 Singapore Telecommunications (B) 3,024,215 4,858 United Overseas Bank (B) 594,900 5,869 UOL Group 9,000 16 ------------ 24,609 ------------ SOUTH AFRICA -- 0.5% Harmony Gold Mining * 84,500 1,352 Sanlam 745,380 1,516 Sasol 335,187 12,925 Standard Bank Group 81,700 882 Tiger Brands 43,500 875 ------------ 17,550 ------------ SOUTH KOREA -- 1.3% Honam Petrochemical 23,600 1,152 Hyundai Motor 79,070 6,718 Industrial Bank of Korea 49,730 839 INI Steel 59,040 2,125 Kookmin Bank 18,900 1,554 POSCO 8,800 2,361 Samsung Electronics 16,785 10,668 Samsung Electronics GDR 33,855 10,639 - -------------------------------------------------------------------------------- Market Value Description Shares ($ Thousands) - -------------------------------------------------------------------------------- Shinhan Financial Group 202,800 $ 9,512 ------------ 45,568 ------------ SPAIN -- 2.9% ACS Actividades Construcciones y Servicios (B) 316,379 13,192 Altadis (B) 91,928 4,344 Banco Bilbao Vizcaya Argentaria (B) 778,186 16,000 Banco Santander Central Hispano 864,161 12,619 Endesa (B) 582,552 20,253 Fomento de Construcciones y Contratas (B) 8,427 641 Iberdrola (B) 149,794 5,158 Inditex (B) 34,251 1,444 Repsol (B) 627,264 17,958 Telefonica 505,948 8,423 Union Fenosa 11,437 443 ------------ 100,475 ------------ SWEDEN -- 1.8% Assa Abloy, Cl B 61,500 1,033 Atlas Copco, Cl A 487,550 13,537 Axfood 5,250 151 D Carnegie 17,400 319 Holmen, Cl B 79,800 3,224 Kungsleden * 163,500 1,918 Nordea Bank 295,259 3,525 Sandvik * 234,500 2,726 SAS * 78,200 822 Scania, Cl B 34,800 1,580 Skandinaviska Enskilda Banken 93,000 2,214 SKF, Cl B 324,234 5,109 Ssab Svenskt Stal, Cl A * 142,974 2,848 Svenska Cellulosa, Cl B 39,900 1,648 Svenska Handelsbanken, Cl A 45,300 1,167 Swedish Match 113,900 1,834 Telefonaktiebolaget LM Ericsson, Cl B 3,423,746 11,312 TeliaSonera 461,200 2,619 Trelleborg, Cl B 18,400 314 Volvo, Cl A 3,000 144 Volvo, Cl B 74,200 3,646 ------------ 61,690 ------------ SWITZERLAND -- 5.2% ABB 136,550 1,772 Adecco 22,300 1,316 Ciba Specialty Chemicals 2,166 120 Clariant 30,972 439 Compagnie Financiere Richemont, Cl A * 154,287 7,053 Credit Suisse Group 398,496 22,251 Holcim 195,330 14,941 Nestle 86,815 27,214 Novartis 669,735 36,193 Phonak Holding 9,638 601 Rieter Holding 2,250 863 Roche Holding 133,766 22,069 Serono, Cl B 171 118 Swatch Group 10,435 364 Swatch Group, Cl B 2,088 352 Swiss Reinsurance (B) 95,761 6,680 Swisscom 9,063 2,978 UBS 176,820 19,342 Xstrata 210,501 7,981 - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) International Equity Fund June 30, 2006 - -------------------------------------------------------------------------------- Market Value Description Shares ($ Thousands) - -------------------------------------------------------------------------------- Zurich Financial Services 20,823 $ 4,556 ------------ 177,203 ------------ TAIWAN -- 0.5% Chunghwa Telecom ADR 70,154 1,296 Compal Electronics 1,247,700 1,191 HON HAI Precision Industry 1,303,900 8,054 HON HAI Precision Industry GDR 115,369 1,398 Taiwan Semiconductor Manufacturing 1,023,086 1,845 Taiwan Semiconductor Manufacturing ADR 202,780 1,862 ------------ 15,646 ------------ THAILAND -- 0.2% High Tech Computer 250,925 6,897 PTT 199,200 1,180 ------------ 8,077 ------------ UNITED KINGDOM -- 17.6% 3i Group 78,800 1,314 Alliance Unichem 24,980 472 Amvescap 271,800 2,490 Anglo American 211,874 8,692 ARM Holdings 191,111 400 AstraZeneca 454,396 27,432 AstraZeneca (SEK) 77,836 4,695 Aviva 746,566 10,570 BAE Systems 1,190,300 8,140 Balfour Beatty 42,796 272 Barclays 1,561,519 17,747 Barratt Developments 190,570 3,341 Bellway 69,842 1,498 Berkeley Group Holdings 171,184 3,841 BG Group 87,600 1,171 BHP Billiton 1,460,372 28,334 Bovis Homes Group 23,327 346 BP 3,341,785 38,970 Brambles Industries 147,043 1,169 British Airways * 338,693 2,147 British American Tobacco 838,107 21,113 British Land 137,019 3,201 British Sky Broadcasting 211,231 2,241 BT Group 181,628 804 Burberry Group 158,125 1,258 Cadbury Schweppes 1,516,668 14,629 Capita Group 33,765 288 Carnival 39,260 1,600 Centrica 220,500 1,163 Cookson Group 22,331 217 Corus Group 448,720 3,789 Diageo 443,804 7,466 Emap 36,681 578 Enterprise Inns 66,814 1,172 First Choice Holidays 37,678 159 Firstgroup 26,719 232 FKI 826,400 1,635 Friends Provident 1,327,770 4,390 Gallaher Group 12,122 189 GKN 279,847 1,413 GlaxoSmithKline 1,199,012 33,509 Great Portland Estates 144,300 1,334 GUS 269,390 4,813 Hammerson 70,888 1,552 Hanson 245,382 2,980 - -------------------------------------------------------------------------------- Market Value Description Shares ($ Thousands) - -------------------------------------------------------------------------------- Hays 2,821,547 $ 7,045 HBOS 1,015,803 17,661 HSBC Holdings 1,717,386 30,223 Imperial Chemical Industries 172,999 1,161 Imperial Tobacco Group 584,586 18,046 Inchcape 238,818 2,087 Intercontinental Hotels Group 644,567 11,272 J Sainsbury 941,813 5,827 Johnson Matthey 54,000 1,325 Johnston Press 259,846 1,993 Kingfisher 256,900 1,133 Ladbrokes 526,281 3,967 Land Securities Group 57,900 1,921 Legal & General Group 986,518 2,340 Liberty International 10,528 207 Lloyds TSB Group 394,570 3,879 London Stock Exchange Group 55,057 1,159 Man Group 38,181 1,799 Marks & Spencer Group 108,500 1,178 Mitchells & Butlers 297,600 2,837 National Grid 663,390 7,178 Northern Rock 73,824 1,365 Pearson 56,469 769 Persimmon 216,693 4,946 Prudential 14,164 160 Punch Taverns 286,994 4,645 Reckitt Benckiser 243,988 9,116 Reed Elsevier 1,191,976 12,037 Resolution 93,400 1,157 Rio Tinto 280,158 14,814 Rolls-Royce Group 395,837 3,031 Royal & Sun Alliance Insurance Group 2,542,389 6,325 Royal Bank of Scotland Group 1,234,098 40,583 SABMiller 181,034 3,263 Schroders 54,600 1,020 Scottish & Newcastle 133,203 1,256 Scottish & Southern Energy 225,564 4,802 Scottish Power 1,706,271 18,399 Smith & Nephew 121,800 938 Smiths Group 24,779 408 Sportingbet 840,450 6,117 Stagecoach Group 134,593 287 Standard Chartered 160,422 3,917 Tate & Lyle 102,509 1,148 Taylor Woodrow 336,106 2,076 Tomkins 249,581 1,328 Trinity Mirror 36,258 327 Unilever * 107,654 2,421 United Business Media 48,473 581 United Utilities 68,282 810 Vodafone Group 18,925,945 40,343 Whitbread 243,245 5,246 Wimpey George 661,014 5,560 Wolseley 58,208 1,284 WPP Group 46,074 558 Yell Group 125,100 1,184 ------------ 601,225 ------------ Total Common Stock (Cost $2,364,787) ($ Thousands) 2,916,967 ------------ - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) International Equity Fund June 30, 2006 - -------------------------------------------------------------------------------- Face Amount Market Value Description ($ Thousands)(1) ($ Thousands) - -------------------------------------------------------------------------------- ASSET-BACKED SECURITIES -- 11.0% ABS Home Equity Loan Trust, Ser 2003-HE5, Cl M1 (D) 5.949%, 09/15/33 $ 1,642 $ 1,655 ACE Securities, Ser 2003-NC1, Cl M (D) 6.103%, 07/25/33 2,100 2,109 ACE Securities, Ser 2003-OP1, Cl M1 (D) 6.023%, 12/25/33 800 804 Aegis Asset Backed Securities Trust, Ser 2003-3, Cl M1 (D) 6.023%, 01/25/34 650 651 American Home Mortgage Investment Trust, Ser 2005-1, Cl 6A (D) 5.294%, 06/25/45 20,972 20,576 American Home Mortgage Investment Trust, Ser 2005-4, Cl 5A (D) 5.350%, 11/25/45 7,665 7,519 Ameriquest Mortgage Securities, Ser 2003-2, Cl M1 (D) 6.223%, 03/25/33 1,424 1,429 Argent Securities, Ser 2003-W5, Cl M1 (D) 6.023%, 10/25/33 600 608 Argent Securities, Ser 2003-W9, Cl M1 (D) 6.013%, 03/25/34 1,400 1,408 Asset Backed Funding Certificates, Ser 2005-AQ1, Cl A1B (G) 4.250%, 06/25/35 3,216 3,202 Asset-Backed Securities Home Equity, Ser 2003-HE7, Cl M2 (D) 6.949%, 12/15/33 750 769 Banc of America Funding, Ser 2006- A, Cl 2A2 (D) 5.485%, 02/20/36 728 721 Basic Asset Backed Securities Trust, Ser 2006-1, Cl A1 (D) 5.403%, 04/25/35 14,446 14,447 Bear Stearns Adjustable Rate Mortgage Trust, Ser 2004-7, Cl 1A1 (D) 4.926%, 10/25/34 1,793 1,784 Bear Stearns Asset Backed Securities Trust, Ser 2004-HE11, Cl 1A2 (D) 5.623%, 04/25/33 2,057 2,059 Bear Stearns NIM Trust, Ser 2005- AQ2N, Cl A1 (F) 5.500%, 09/25/35 192 190 Carrington Mortgage Loan Trust, Ser 2005-NC4, Cl A1 (D) 5.473%, 09/25/35 1,858 1,858 Centex Home Equity, Ser 2004-B, Cl AF3 (G) 2.946%, 05/25/28 791 783 Centex Home Equity, Ser 2004-D, Cl AV4 (D) 5.623%, 11/25/31 7,947 7,951 - -------------------------------------------------------------------------------- Face Amount Market Value Description ($ Thousands)(1) ($ Thousands) - -------------------------------------------------------------------------------- Chase Funding Mortgage Loan, Ser 2003-1, Cl 1A4 4.119%, 02/25/29 $ 3,036 $ 3,015 Countrywide Alternative Loan Trust, Ser 2005-69, Cl M3 (D) 6.473%, 12/25/35 800 810 Countrywide Alternative Loan Trust, Ser 2005-IM1, Cl M3 (D) 7.323%, 01/25/36 1,221 1,175 Countrywide Alternative Loan Trust, Ser 2006-0A11, Cl M3 (D) 5.667%, 06/30/36 1,700 1,700 Countrywide Asset-Backed Certificates, Ser 2003-5, Cl MV2 (D) 6.923%, 01/25/34 775 791 Countrywide Asset-Backed Certificates, Ser 2004-11, Cl A2 (D) 5.703%, 03/25/33 2,769 2,773 Countrywide Asset-Backed Certificates, Ser 2005-15, Cl 1AF1 (D) 5.463%, 04/25/36 4,055 4,056 Countrywide Asset-Backed Certificates, Ser 2006-IM1, Cl A1 (D) 5.413%, 04/25/36 7,504 7,505 Countrywide Home Equity Loan Trust, Ser 2006-D, Cl 2A (D) 5.399%, 05/15/36 10,948 10,958 Countrywide Home Loans, Ser 2004-22, Cl A1 (D) 5.104%, 11/25/34 2,416 2,368 Countrywide Home Loans, Ser 2006-HYB2, Cl 1A1 (D) 5.152%, 04/20/36 8,285 8,178 Credit Suisse Asset-Backed Mortgage Trust, Ser 2006-1, Cl A1B 5.605%, 06/25/36 4,774 4,774 DLSA Mortgage Loan Trust, Ser 2006-AR1, Cl M4 (D) 5.992%, 03/30/36 760 763 DSLA Mortgage Loan Trust, Ser 2004-AR4, Cl B1 (D) 5.852%, 01/19/45 1,224 1,233 DSLA Mortgage Loan Trust, Ser 2006-AR1, Cl M5 (D) 6.062%, 03/30/36 490 493 DSLA Mortgage Loan Trust, Ser 2006-AR1, Cl M7 (D) 7.002%, 03/30/36 490 494 Deustche Alternatives Securities Mortgage Loan Trust, Ser 2006-AB3, Cl A1 6.250%, 07/25/36 7,100 6,802 First Franklin Mortgage Loan Asset, Ser 2004-FF10, Cl A2 (D) 5.723%, 12/25/32 2,116 2,121 First Franklin Mortgage Loan Asset, Ser 2005-FF4, Cl 2A3 (D) 5.543%, 05/25/35 6,000 6,004 - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) International Equity Fund June 30, 2006 - -------------------------------------------------------------------------------- Face Amount Market Value Description ($ Thousands)(1) ($ Thousands) - -------------------------------------------------------------------------------- First Franklin Mortgage Loan Asset, Ser 2005-FFA, Cl A2A (D) 5.433%, 03/25/25 $ 601 $ 601 First Franklin Mortgage Loan Asset, Ser 2005-FFH3, Cl 2A1 (D) 5.453%, 09/25/35 9,058 9,059 First Horizon Alternative Mortgage, Ser 2005-AA3, Cl 3A1 (D) 5.383%, 05/25/35 1,324 1,305 GSAA Home Equity NIM Trust, Ser 2006-2, Cl 2A1 (D) 5.423%, 12/25/35 14,147 14,147 GSAA Home Equity NIM Trust, Ser 2006-3N, Cl N1 (F) 5.750%, 03/25/36 380 379 Greenpoint Mortgage Funding Trust, Ser 2006-AR1, Cl M3 (D) 5.893%, 02/25/36 1,246 1,253 Home Equity Asset NIM Trust, Ser 2003-4, Cl M2 (D) 7.223%, 10/25/33 1,265 1,278 Home Equity Asset NIM Trust, Ser 2006-1N, Cl A (F) 6.500%, 05/27/36 649 648 Indymac Mortgage Loan Trust, Ser 2004-AR6, Cl 1A (D) 5.469%, 10/25/34 1,184 1,195 Interstar Millennium Trust, Ser 2006-2GA, Cl A1 (C) (D) (F) 5.371%, 05/25/11 25,000 25,000 Lehman XS Trust, Ser 2005-5N, Cl M4 (D) 7.073%, 11/25/35 1,850 1,793 Lehman XS Trust, Ser 2005-7N, Cl M71 (D) 7.073%, 12/25/35 1,075 1,032 Lothian Mortgages Master Issue Trust, Ser 2006-1A, Cl A1 (C) (D) (F) 5.350%, 01/24/28 6,000 6,000 Master Asset Backed Securities Trust, Ser 2002-OPT1, Cl M1 (D) 6.473%, 11/25/32 1,070 1,073 Master Asset Backed Securities Trust, Ser 2003-WMC2, Cl M1 (D) 6.023%, 08/25/33 952 954 Master Asset Backed Securities Trust, Ser 2006-AB1, Cl A1 (D) 5.463%, 02/25/36 16,889 16,890 Merrill Lynch Mortgage Investors, Ser 2005-HE2, Cl A2A (D) 5.433%, 09/25/36 1,815 1,815 Merrill Lynch Mortgage Trust, Ser 2006-1, Cl 1A1 (D) 5.350%, 02/25/36 7,750 7,684 Morgan Stanley Capital I, Cl 2003-NC8, Cl M1 (D) 6.023%, 09/25/33 2,000 2,008 New Century Home Equity Loan Trust, Ser 2004-A, Cl AII3 (D) 4.450%, 08/25/34 5,200 5,149 New Century Home Equity Loan Trust, Ser 2005-A, Cl A1F (G) 4.359%, 08/25/35 1,409 1,404 - -------------------------------------------------------------------------------- Face Amount Market Value Description ($ Thousands)(1) ($ Thousands) - -------------------------------------------------------------------------------- New Century Home Equity Loan Trust, Ser 2005-A, Cl A2 (G) 4.461%, 08/25/35 $ 11,250 $ 11,083 New Century Home Equity Loan Trust, Ser 2005-B, Cl A2A (D) 5.443%, 10/25/35 8,331 8,332 Nomura Asset Acceptance, Ser 2004-R1, Cl A1 (F) 6.500%, 03/25/34 2,022 2,038 Nomura Asset Acceptance, Ser 2004-R2, Cl A1 (D) (F) 6.500%, 10/25/34 2,271 2,283 Option One Mortgage Loan Trust, Ser 2006-1, Cl M10 (D) (F) 7.823%, 01/25/36 230 197 Option One Mortgage Loan Trust, Ser 2006-1, Cl M11 (D) (F) 7.823%, 01/25/36 500 443 Residential Accredit Loans, Ser 2005-Q05, Cl M3 (D) 6.123%, 01/25/46 1,298 1,315 Residential Accredit Loans, Ser 2005-QA3, Cl NB2 (D) 5.267%, 03/25/35 6,928 6,829 Residential Accredit Loans, Ser 2006-Q01, Cl 2A3 (D) 5.723%, 02/25/46 993 995 Residential Asset Mortgage Products, Ser 2003-RS11, Cl MII1 (D) 6.053%, 12/25/33 700 706 Residential Asset Mortgage Products, Ser 2006-RZ1, Cl A1 (D) 5.403%, 03/25/36 17,160 17,164 Residential Asset Securities, Ser 2006- EMX2, Cl A1 (D) 5.400%, 02/25/36 7,581 7,583 Residential Asset Securities, Ser 2006-KS2, Cl A1 (D) 5.393%, 03/25/36 14,378 14,378 Residential Asset Securitization Trust, Ser 2004-IP2, Cl 3A1 (D) 5.288%, 12/25/34 6,908 6,823 Resmae Mortgage Loan Trust, Ser 2006-1, Cl A2A (D) (F) 5.423%, 02/25/36 7,020 7,020 Resmae Mortgage Loan Trust, Ser 2006-1, Cl A2B (D) (F) 5.473%, 02/25/36 4,800 4,800 Sharps SP I LLC NIM Trust, Ser 2005-HE3N, Cl N (F) 5.000%, 05/25/35 1,223 1,221 Structured Adjustable Rate Mortgage Loan, Ser 2005-16 XS, Cl M2 6.223%, 08/25/35 775 780 Structured Asset Investment Loan Trust, Ser 2005-1, Cl A4 (D) (F) 5.553%, 02/25/35 4,144 4,148 Structured Asset Investment Loan Trust, Ser 2005-8, Cl A2 (D) 5.453%, 10/25/35 2,715 2,716 Structured Asset Securities, Ser 2005-NC1, Cl A2 (G) 3.920%, 02/25/35 1,119 1,109 - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) International Equity Fund June 30, 2006 - -------------------------------------------------------------------------------- Face Amount Market Value Description ($ Thousands)(1) ($ Thousands) - -------------------------------------------------------------------------------- Structured Asset Securities, Ser 2005-S1, Cl B3 (D) (F) 7.823%, 03/25/35 $ 850 $ 819 Terwin Mortgage Trust, Ser 2006-5, Cl 1A2A (D) (F) 5.413%, 06/25/36 18,818 18,818 Terwin Mortgage Trust, Ser 2006-6, Cl 2A1 4.500%, 06/25/37 3,500 3,463 Wachovia Asset Securization, Ser 2004-HM1A, Cl A (C) (D) (F) 5.370%, 11/25/34 9,896 9,896 Wells Fargo Home Equity Trust, Ser 2004-2, Cl A12 (D) 3.450%, 06/25/19 4,600 4,578 ------------ Total Asset-Backed Securities (Cost $377,550) ($ Thousands) 376,740 ------------ COMMERCIAL PAPER (C)(E) -- 10.6% UNITED STATES -- 10.6% Ajax Bambino 5.220%, 07/12/06 26,000 25,959 Asap Funding 5.336%, 07/05/06 3,210 3,208 Atlas Capital Funding 5.112%, 07/05/06 20,700 20,688 Bavaria TRR 5.191%, 07/03/06 26,000 25,992 Brahms Funding 5.333%, 07/25/06 35,000 34,876 Harwood Street Funding I 5.158%, 07/14/06 20,000 19,963 Ivory Funding 5.397%, 08/03/06 30,000 29,852 Main Street Warehouse Funding 5.365%, 07/31/06 16,000 15,929 Mica Funding LLC 5.112%, 07/05/06 28,800 28,784 Mortgage Interest Networking Trust 5.368%, 07/20/06 15,000 14,958 5.265%, 07/10/06 21,300 21,272 Ocala 5.372%, 07/28/06 14,000 13,944 5.313%, 07/19/06 15,000 14,960 Park Sienna LLC 5.153%, 07/17/06 30,000 29,932 Strand Capital 5.335%, 07/17/06 35,000 34,917 Von Karman Funding 5.263%, 07/06/06 28,000 27,980 ------------ Total Commercial Paper (Cost $363,214) ($ Thousands) 363,214 ------------ U.S. GOVERNMENT MORTGAGE-BACKED OBLIGATIONS (D) -- 7.0% UNITED STATES -- 7.0% FHLMC 5.861%, 02/01/36 1,573 1,567 5.572%, 10/01/35 2,755 2,735 FNMA 5.524%, 01/01/36 2,831 2,818 FNMA 15 Year TBA 5.500%, 07/01/21 59,000 57,894 - -------------------------------------------------------------------------------- Face Amount Market Value Description ($ Thousands)(1) ($ Thousands) - -------------------------------------------------------------------------------- 5.000%, 07/01/18 $ 6,000 $ 5,777 FNMA 30 Year TBA 6.000%, 07/01/36 31,000 30,506 5.500%, 06/12/31 119,000 114,277 GNMA 5.000%, 02/20/35 361 360 4.500%, 06/20/34 to 06/20/36 7,346 7,298 4.375%, 06/20/33 1,358 1,359 4.000%, 02/20/36 1,392 1,360 3.750%, 02/20/34 8,973 8,739 3.000%, 04/20/35 839 814 GNMA 30 Year TBA 4.500%, 06/22/36 1,600 1,469 ------------ Total U.S. Government Mortgage-Backed Obligations (Cost $238,652) ($ Thousands) 236,973 ------------ CORPORATE OBLIGATIONS -- 6.5% UNITED STATES -- 6.5% Banco Santander (C) (D) 5.395%, 07/22/11 23,000 23,000 Beta Finance MTN (C) (D) 5.358%, 05/10/07 33,000 32,995 Cheyne Finance LLC MTN (C) (D) (F) 5.363%, 04/16/07 20,000 19,997 Gannett 5.750%, 06/01/11 2,475 2,436 K2 LLC MTN (C) (D) (F) 5.358%, 05/21/07 10,000 9,999 5.145%, 04/18/07 9,500 9,500 Liberty Lighthouse US Capital MTN (C) (D) (F) 5.073%, 03/01/07 20,000 19,997 Links Finance LLC MTN (C) (D) (F) 5.393%, 05/21/07 30,000 29,999 Premier Asset Collateralization LLC MTN (C) (D) 5.303%, 04/25/07 25,000 25,000 Residential Capital 6.875%, 06/30/15 265 265 6.500%, 04/17/13 3,990 3,916 6.000%, 02/22/11 700 678 Shinsei Finance Cayman (D) (F) 6.418%, 01/29/49 1,740 1,634 Sigma Finance MTN (C) (D) (F) 5.140%, 04/18/07 20,000 20,000 Wachovia Bank (C) (D) 5.423%, 05/22/07 20,000 20,000 Washington Mutual Preferred Funding (D) (F) 6.534%, 03/15/49 1,900 1,820 ------------ Total Corporate Obligations (Cost $221,538) ($ Thousands) 221,236 ------------ U.S. GOVERNMENT AGENCY OBLIGATIONS -- 1.1% UNITED STATES -- 1.1% FHLMC CMO STRIPS, Ser 232, Cl IO, IO 5.000%, 08/01/35 14,924 3,956 FHLMC CMO STRIPS, Ser 233, Cl 12, IO 5.000%, 09/15/35 5,268 1,336 - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) International Equity Fund June 30, 2006 - -------------------------------------------------------------------------------- Face Amount ($ Thousands) Market Value Description (1)/Shares ($ Thousands) - -------------------------------------------------------------------------------- FHLMC DN (A) (H) 4.590%, 08/04/06 $ 1,000 $ 996 FHLMC DN (H) 5.081%, 10/23/06 1,975 1,943 5.050%, 11/14/06 1,200 1,176 4.878%, 09/27/06 600 592 FNMA CMO STRIPS, Ser 2006-10, Cl FD 5.673%, 03/25/36 7,683 7,679 FNMA CMO STRIPS, Ser 359, Cl 6, IO 5.000%, 11/01/35 2,173 565 FNMA CMO STRIPS, Ser 360, Cl 2, IO 5.000%, 08/01/35 5,652 1,493 FNMA DN (H) 5.394%, 12/06/06 2,000 1,954 5.297%, 11/30/06 335 328 5.205%, 03/30/07 350 336 4.995%, 09/27/06 391 386 1.680%, 11/08/06 15,300 15,015 ------------ Total U.S. Government Agency Obligations (Cost $37,269) ($ Thousands) 37,755 ------------ CASH EQUIVALENTS** -- 0.8% Barclays Global Investors Funds, Prime Money Market Fund, 5.04% (C) 563,843 564 SEI Daily Income Trust, Prime Obligations Fund, Cl A, 5.07% ++ 6,758,432 6,758 The Reserve Funds, Primary Fund, Cl 8, 5.23% (C) 20,830,492 20,830 ------------ Total Cash Equivalents (Cost $28,152) ($ Thousands) 28,152 ------------ PREFERRED STOCK -- 0.7% AUSTRALIA -- 0.0% News 44,855 862 ------------ BRAZIL -- 0.2% Braskem, Cl A 112,600 691 Petroleo Brasileiro 236,000 4,694 Suzano Bahia Sul Papel e Celulose 126,000 742 Usinas Siderurgicas de Minas Gerais, Cl A 54,200 1,945 ------------ 8,072 ------------ GERMANY -- 0.4% Fresenius Medical Care (B) 9,341 976 Porsche (B) 9,970 9,635 ProSiebenSat.1 Media * (B) 43,500 1,086 Volkswagen 7,943 401 ------------ 12,098 ------------ UNITED KINGDOM -- 0.1% Scottish Power, Cl B * 549,820 3,671 ------------ Total Preferred Stock (Cost $17,899) ($ Thousands) 24,703 ------------ - -------------------------------------------------------------------------------- Face Amount ($ Thousands) Market Value Description (1)/Contracts ($ Thousands) - -------------------------------------------------------------------------------- U.S. TREASURY OBLIGATIONS -- 0.5% UNITED STATES -- 0.5% U.S. Treasury Bills 4.787%, 07/06/06 $ 100 $ 100 4.730%, 08/17/06 250 249 4.706%, 07/20/06 50 50 4.705%, 08/24/06 440 437 4.701%, 08/03/06 1,100 1,096 4.649%, 07/27/06 850 847 U.S. Treasury Inflationary Index Notes 3.875%, 04/15/29 10,097 12,493 ------------ Total U.S. Treasury Obligations (Cost $15,401) ($ Thousands) 15,272 ------------ EXCHANGE TRADED FUND -- 0.1% UNITED STATES -- 0.1% iShares MSCI EAFE Index Fund * 34,600 2,263 ------------ Total Exchange Traded Fund (Cost $2,097) ($ Thousands) 2,263 ------------ Number of Rights ----------- RIGHTS -- 0.0% FRANCE -- 0.0% AXA, Expires 07/01/06* 307 259 ------------ 259 ------------ GERMANY -- 0.0% Linde, Expires 07/13/06* 2 8 ------------ GREECE -- 0.0% National Bank of Greece, Expires 07/05/06* 33 105 ------------ HONG KONG -- 0.0% Henderson Land Development, (J)* 27 -- Sun Hung Kai Properties, (J)* 162 -- ------------ -- ------------ Total Rights (Cost $0) ($ Thousands) 372 ------------ PURCHASED OPTIONS -- 0.0% UNITED STATES -- 0.0% 120 Day Euro Futures Call, Expires 12/16/06, Strike Price $95 320 50 ------------ Total Purchased Options (Cost $250) ($ Thousands) 50 ------------ - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) International Equity Fund June 30, 2006 - -------------------------------------------------------------------------------- Face Amount ($ Thousands) Market Value Description (1)/Contracts ($ Thousands) - -------------------------------------------------------------------------------- REPURCHASE AGREEMENTS (C)(I) -- 7.5% Bank of America 5.230%, dated 06/30/06, to be repurchased on 07/03/06, repurchase price $69,030,073 (collateralized by various U.S. Government Obligations, ranging in par value $12,230,020- $101,853,617, 5.000%, 04/01/34- 09/01/35; with total market value $70,380,000) $ 69,000 $ 69,000 Barclays Capital 5.150%, dated 06/30/06, to be repurchased on 07/03/06, repurchase price $50,021,458 (collateralized by a U.S. Government Obligation, par value $53,772,000, 4.650%, 10/10/13; with total market value $51,000,770) 50,000 50,000 Deutsche Bank 5.200%, dated 06/30/06, to be repurchased on 07/03/06, repurchase price $38,016,467 (collateralized by various U.S. Government Obligations, ranging in par value $1,402,610- $95,000,000, 5.000%-6.000%, 12/01/18-06/01/36; with total market value $38,760,000) 38,000 38,000 Goldman Sachs 5.290%, dated 06/30/06, to be repurchased on 07/03/06, repurchase price $50,022,042 (collateralized by various U.S. Government Obligations, ranging in par value $1,252,635- $16,675,617, 5.000%-5.500%, 12/01/19-09/01/35; with total market value $51,000,000) 50,000 50,000 Merrill Lynch 5.220%, dated 06/30/06, to be repurchased on 07/03/06, repurchase price $50,021,750 (collateralized by various U.S. Government Obligations, ranging in par value $750,000-$8,076,010, 0.000%, 12/01/07-05/01/36; with total market value $51,003,294) 50,000 50,000 ------------ Total Repurchase Agreements (Cost $257,000) ($ Thousands) 257,000 ------------ Total Investments -- 131.2% (Cost $3,923,809) ($ Thousands)@ $ 4,480,697 ============ WRITTEN OPTIONS -- 0.0% UNITED STATES -- 0.0% 120 Day Euro Futures Call, Expires 12/15/06, Strike Price $95 (320) (36) ------------ - -------------------------------------------------------------------------------- Market Value Description ($ Thousands) - -------------------------------------------------------------------------------- Total Written Options (Premiums received $225) ($ Thousands) $ (36) ============ - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) International Equity Fund June 30, 2006 Forward Foreign Currency Contracts -- The following forward foreign currency contracts were outstanding at June 30, 2006: - -------------------------------------------------------------------------------- Unrealized Currency Currency Appreciation Settlement to Deliver to Receive (Depreciation) Date (Thousands) (Thousands) ($ Thousands) - -------------------------------------------------------------------------------- 7/24/06 AUD 1,558 USD 1,141 $ (15) 7/24/06 EUR 9,242 USD 11,646 (187) 7/24/06 GBP 4,136 USD 7,562 (89) 7/24/06 JPY 241,108 USD 2,084 (32) 7/24/06 SEK 19,633 USD 2,680 (51) 7/24/06 USD 3,486 SGD 5,546 25 7/24/06 USD 11,452 SEK 83,722 193 7/24/06 USD 617 NZD 996 (10) 7/24/06 USD 2,959 NOK 18,521 22 7/24/06 USD 94,948 JPY 10,850,565 261 7/24/06 USD 6,709 HKD 52,058 (1) 7/24/06 USD 100,366 GBP 54,423 327 7/24/06 USD 133,170 EUR 105,549 1,970 7/24/06 USD 2,634 DKK 15,560 37 7/24/06 USD 27,689 CHF 34,146 255 7/24/06 USD 20,117 AUD 27,270 133 --------------- $ 2,838 =============== - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) International Equity Fund June 30, 2006 Futures -- The following futures contracts were held by the Fund at June 30, 2006: - -------------------------------------------------------------------- Unrealized Type of Number of Expiration Appreciation Contract Contracts Date ($ Thousands) - -------------------------------------------------------------------- U.S. T-Bond (85) September 2006 $ 65 U.S. 5-Year Note (442) September 2006 206 U.S. 2-Year Note (46) September 2006 29 U.S. 10-Year Note (48) September 2006 19 U.S. 10-Year Note (24) September 2006 21 Amsterdam Index 159 July 2006 1,060 CAC40 10 Euro 632 July 2006 2,576 DAX Index 216 September 2006 2,613 DJ Euro Stoxx 50 Index 68 September 2006 196 FTSE 100 Index 961 September 2006 4,741 FTSE 100 Index 21 September 2006 104 Hang Seng Index 67 July 2006 288 Hang Seng Index 1 July 2006 3 IBEX 35 Index 99 July 2006 862 MSCI Sing Index 81 July 2006 129 OMX Index 1,477 July 2006 893 S&P/MIB Index 81 September 2006 912 SPI 200 Index 269 September 2006 1,598 SPI 200 Index 6 September 2006 21 Topix Index 724 September 2006 760 Topix Index 16 September 2006 16 90-Day Eurodollar (152) March 2007 132 90-Day Eurodollar (152) March 2008 103 90-Day Eurodollar (134) March 2009 93 90-Day Eurodollar (132) March 2010 87 90-Day Eurodollar (124) March 2011 53 90-Day Eurodollar (2) June 2006 6 90-Day Eurodollar (152) June 2007 125 90-Day Eurodollar (134) June 2008 93 90-Day Eurodollar (134) June 2009 93 90-Day Eurodollar (153) June 2010 99 90-Day Eurodollar (152) September 2006 121 90-Day Eurodollar (152) September 2007 115 90-Day Eurodollar (134) September 2008 94 90-Day Eurodollar (134) September 2009 93 90-Day Eurodollar (156) September 2010 99 90-Day Eurodollar (152) December 2006 127 90-Day Eurodollar (152) December 2007 107 90-Day Eurodollar (134) December 2008 93 90-Day Eurodollar (134) December 2009 90 90-Day Eurodollar (156) December 2010 97 --------- $ 19,032 ========= - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) International Equity Fund June 30, 2006 Percentages are based on Net Assets of $3,415,087 ($ Thousands). * Non-Income Producing Security ** Rate shown is the 7-day effective yield as of June 30, 2006. + Real Estate Investment Trust ++ Pursuant to an exemptive order issued by the Securities and Exchange Commission, the Fund may invest in the SEI money market funds, provided that investments in the money market funds do not exceed 25% of the Fund's total assets. (1) In U.S. dollars unless otherwise indicated. (A) Security, or portion thereof, has been pledged as collateral on open futures contracts and written options. (B) This security or a partial position of this security is on loan at June 30, 2006. The total value of securities on loan at June 30, 2006 was $873,573 ($ Thousands). (C) This security was purchased with cash collateral held from securities lending. The total value of such securities as of June 30, 2006 was $892,991 ($ Thousands). (D) Variable Rate Security -- The rate reported on the Schedule of Investments is the rate in effect as of June 30, 2006. (E) The rate reported is the effective yield at time of purchase. (F) This security was sold within the terms of a private placement memorandum, exempt from registration under Section 3A-4, 4(2), or 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other "accredited investors." These securities have been determined to be liquid under guidelines established by the Board of Trustees. (G) Step Bond -- The rate reflected on the Schedule of Investments is the effective yield on June 30, 2006. The coupon on a step bond changes on a specified date. (H) Zero coupon security. The rate reported on the Schedule of Investments is the effective yield at time of purchase. (I) Tri-Party Repurchase Agreement. (J) These rights do not have expiration dates. ADR -- American Depositary Receipt AUD -- Australian Dollar CHF -- Swiss Franc Cl -- Class CMO -- Collateralized Mortgage Obligation DKK -- Danish Krone DN -- Discount Note EUR -- Euro FDR -- Fiduciary Depositary Receipt FHLMC -- Federal Home Loan Mortgage Corporation FNMA -- Federal National Mortgage Association GBP -- British Pound Sterling GDR -- Global Depositary Receipt GNMA -- Government National Mortgage Association HKD -- Hong Kong Dollar IO -- Interest Only JPY -- Japanese Yen - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) International Equity Fund June 30, 2006 LLC -- Limited Liability Company MTN -- Medium Term Note NIM -- Net Interest Margin NOK -- Norwegian Krone NZD -- New Zealand Dollar SEK -- Swedish Krona Ser -- Series SGD -- Singapore Dollar STRIPS -- Separately Traded Registered Interest and Principal Securities TBA -- To Be Announced USD -- U.S. Dollar @ At June 30, 2006, the tax basis cost of the Fund's investments was $3,923,809 ($ Thousands), and the unrealized appreciation and depreciation were $611,633 ($ Thousands) and $(54,745) ($ Thousands), respectively. For information regarding the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual and annual financial statements. Amounts designated as "-" are either $0 or have been rounded to $0. - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) Emerging Markets Equity Fund June 30, 2006 - -------------------------------------------------------------------------------- Market Value Description Shares ($ Thousands) - -------------------------------------------------------------------------------- COMMON STOCK -- 92.1% ARGENTINA -- 0.1% IRSA Inversiones y Representaciones GDR * (B) 101,000 $ 1,134 Petrobas Energia Participaciones ADR * (B) 44,800 502 ---------- 1,636 ---------- BERMUDA -- 0.1% Credicorp 24,800 743 ---------- BRAZIL -- 9.0% All America Latina Logistica 18,800 1,276 Aracruz Celulose ADR 21,343 1,066 Arcelor Brasil 226,067 3,501 Banco Bradesco ADR 127,800 3,973 Banco Itau Holding Financeira ADR 68,810 2,006 Brasil Telecom Participacoes 8,100 264 Brasil Telecom Participacoes ADR 159,620 5,199 Braskem ADR (B) 68,600 836 Centrais Eletricas Brasileiras 34,932,900 750 Cia Brasileira de Distribuicao Grupo Pao de Acucar ADR (B) 146,550 4,564 Cia de Bebidas das Americas ADR 2,000 83 Cia de Saneamento Basico do Estado de Sao Paulo 20,220,700 1,883 Cia Vale do Rio Doce ADR 539,938 11,817 CPFL Energia ADR (B) 36,200 1,323 Empresa Brasileira de Aeronautica ADR (B) 72,530 2,645 Grendene 164,000 1,317 Localiza Rent A CAR 31,600 599 Lojas Renner 31,500 1,674 Petroleo Brasileiro ADR 497,477 41,096 Rossi Residencial 100,000 947 Submarino * 76,000 1,528 Tele Norte Leste Participacoes 143,968 3,925 Tele Norte Leste Participacoes ADR (B) 238,000 3,034 Tim Participacoes ADR 230,800 6,358 Uniao de Bancos Brasileiros ADR 150,700 10,005 Vivo Participacoes ADR 1,021,700 2,513 Votorantim Celulose e Papel ADR 106,200 1,655 ---------- 115,837 ---------- CHILE -- 1.3% Banco Santander Chile ADR 43,800 1,767 Centros Comerciales Sudamericanos 1,887,205 4,616 Cervecerias Unidas ADR 9,100 201 Cia Cervecerias Unidas ADR 10,977 242 CorpBanca 365,700,900 1,728 Empresa Nacional de Electricidad ADR 148,700 3,926 Empresas CMPC 29,800 814 Enersis ADR 110,622 1,244 Masisa * 1,251,060 195 Masisa ADR 41,400 330 United Breweries 273,560 1,204 ---------- 16,267 ---------- CHINA -- 4.3% Aluminum Corp of China 1,826,000 1,352 Baidu.com ADR * 1,000 83 - -------------------------------------------------------------------------------- Market Value Description Shares ($ Thousands) - -------------------------------------------------------------------------------- Byd (B) 382,700 $ 781 China Construction Bank (A) (B) 17,068,000 7,801 China Petroleum & Chemical, Cl H (B) 10,956,300 6,277 China Shenhua Energy (B) 1,065,500 1,969 China Shipping Development (B) 5,516,000 3,977 China Telecom (B) 23,438,000 7,544 China Yurun Food Group 1,579,000 1,199 Huadian Power International (B) 6,453,400 1,828 Huaneng Power International (B) 2,316,800 1,536 PetroChina (B) 11,706,000 12,509 Sinotrans (B) 4,640,000 1,464 Weiqiao Textile (B) 1,787,900 2,290 Yanzhou Coal Mining (B) 7,058,900 5,226 ---------- 55,836 ---------- COLOMBIA -- 0.3% BanColombia ADR 153,601 3,702 ---------- CZECH REPUBLIC -- 0.7% Cesky Telecom GDR * 213,123 4,539 CEZ 58,802 1,981 Komercni Banka 19,150 2,800 ---------- 9,320 ---------- EGYPT -- 0.8% Commercial International Bank GDR 253,100 2,594 Mobinil-Egyptian Mobile Services 50,105 1,123 Orascom Construction Industries 111,765 3,399 Orascom Construction Industries GDR (A) 8,854 540 Orascom Telecom Holding 35,917 1,485 Orascom Telecom Holding GDR 13,283 542 ---------- 9,683 ---------- HONG KONG -- 3.8% ASM Pacific Technology (B) 404,500 1,971 Brilliance China Automotive Holdings (B) 4,645,000 783 China Mengniu Dairy 4,127,000 5,181 China Mobile Hong Kong (B) 2,069,500 11,830 China Overseas Land & Investment (B) 7,518,000 4,574 Citic Pacific 658,000 1,940 CNOOC (B) 5,334,500 4,258 Cosco Pacific (B) 2,158,000 4,779 Denway Motors (B) 7,958,000 2,664 Giordano International (B) 1,928,000 912 Global Bio-Chem Technology Group 2,499,500 1,062 GOME Electrical Appliances Holdings 729,000 615 Johnson Electric Holdings (B) 2,489,500 1,811 Li & Fung 680,000 1,375 Panva Gas Holdings * 987,000 451 Parkson Retail Group 26,500 75 Samson Holding 1,316,000 631 Shanghai Industrial Holdings 1,063,000 2,073 Texwinca Holdings 980,600 657 Yue Yuen Industrial Holdings (B) 596,500 1,640 ---------- 49,282 ---------- HUNGARY -- 1.0% Gedeon Richter 27,302 5,015 Magyar Telekom * 585,009 2,224 Mol Magyar Olaj-es Gazipari 10,447 1,073 - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) Emerging Markets Equity Fund June 30, 2006 - -------------------------------------------------------------------------------- Market Value Description Shares ($ Thousands) - -------------------------------------------------------------------------------- OTP Bank 88,162 $ 2,495 OTP Bank GDR * 40,527 2,290 ---------- 13,097 ---------- INDIA -- 6.8% Andhra Bank 248,433 337 Bank of Baroda 18,374 79 Bharat Heavy Electricals 116,531 4,940 Bharat Petroleum 348,343 2,531 Bharti Televentures * 1,038,438 8,345 GAIL India 216,932 1,201 GAIL India GDR (A) 20,100 673 Hindalco Industries 1,278,781 4,859 Hindalco Industries GDR (A) (B) 705,900 2,682 Hindalco Industries GDR (A) 169,600 331 Hindustan Petroleum 514,486 2,632 ICICI Bank 156,259 1,854 ICICI Bank ADR 66,900 1,582 Infosys Technologies 94,332 6,306 Infosys Technologies ADR 24,100 1,842 ITC 952,512 3,771 Jet Airways India 42,360 542 Larsen & Toubro 44,679 2,177 Mahanagar Telephone Nigam 538,470 1,808 Mahanagar Telephone Nigam ADR 83,750 575 Mahindra & Mahindra 279,394 3,769 Maruti Udyog 190,091 3,293 Oil & Natural Gas 306,318 7,372 Ranbaxy Laboratories 509,666 3,945 Reliance Energy Ventures * 242,400 179 Reliance Industries 187,100 4,303 Satyam Computer Services 376,758 5,822 State Bank of India GDR (A) 72,900 2,916 Tata Consultancy Services 3,367 127 Tata Motors 425,248 7,338 Tata Steel 4,360 51 Union Bank Of India 125,847 247 ---------- 88,429 ---------- INDONESIA -- 2.5% Astra International 7,163,000 7,539 Bank Central Asia 2,699,000 1,195 Bank Mandiri Persero 4,663,900 866 Bank Rakyat Indonesia 2,586,000 1,144 Bumi Resources 30,000,000 2,494 Gudang Garam 1,417,500 1,454 Indofood Sukses Makmur 10,241,000 973 Indosat 1,499,300 692 Medco Energi Internasional 7,555,200 3,038 Telekomunikasi Indonesia 15,537,900 12,329 ---------- 31,724 ---------- ISRAEL -- 1.8% Bank Hapoalim 1,474,181 6,273 Bank Leumi Le-Israel 369,800 1,312 Bezeq Israeli Telecommunication 1,994,830 2,321 Check Point Software Technologies * 113,100 1,988 Makhteshim-Agan Industries 371,083 1,949 Super-Sol 273,250 755 Taro Pharmaceuticals Industries (B) 78,100 829 Teva Pharmaceutical Industries ADR 247,516 7,819 ---------- 23,246 ---------- - -------------------------------------------------------------------------------- Market Value Description Shares ($ Thousands) - -------------------------------------------------------------------------------- LUXEMBOURG -- 0.3% Tenaris ADR 105,000 $ 4,251 ---------- MALAYSIA -- 2.5% AMMB Holdings Berhad 1,521,300 1,043 Berjaya Sports Toto 576,300 762 Commerce Asset Holdings 1,316,600 2,132 Gamuda 1,774,400 1,661 Genting 375,700 2,423 IOI 1,197,200 4,659 Kuala Lumpur Kepong 251,400 667 Malayan Banking 1,091,900 3,180 Malaysia International Shipping (Foreign Market) 1,018,400 2,134 MK Land Holdings 533,800 97 Proton Holdings 354,300 502 Resorts World 1,792,800 5,709 Sime Darby 2,972,300 4,449 Tenaga Nasional 1,100,000 2,754 Titan Chemicals 1,289,200 446 ---------- 32,618 ---------- MEXICO -- 5.1% Alfa 817,600 4,128 America Movil ADR, Ser L 269,886 8,976 Cemex 221,536 1,269 Cemex ADR 49,139 2,799 Coca-Cola Femsa ADR 114,280 3,374 Consorcio ARA 1,037,000 4,290 Controladora Comercial Mexicana 1,771,800 3,017 Desc, Ser B * 486,413 394 Embotelladoras Arca 358,900 836 Empresas ICA Sociedad Controladora ADR * 30,433 1,032 Fomento Economico Mexicano ADR 37,982 3,180 Grupo Aeroportuario del Sureste ADR 56,970 1,914 Grupo Continental 997,200 1,641 Grupo Financiero Banorte 1,665,964 3,882 Grupo Mexico, Ser B 220,700 634 Grupo Televisa ADR 325,120 6,278 Kimberly-Clark de Mexico, Ser A 583,231 1,856 Organizacion Soriana, Ser B 122,300 456 Telefonos de Mexico ADR, Ser L 306,300 6,380 TV Azteca 5,739,200 3,890 Urbi Desarrollos Urbanos * 1,713,700 4,031 Wal-Mart de Mexico, Ser V 703,418 1,943 ---------- 66,200 ---------- PANAMA -- 0.0% Copa Holdings, Cl A 9,400 213 ---------- PERU -- 0.1% Cia de Minas Buenaventura ADR 25,500 696 ---------- PHILIPPINES -- 0.5% ABS-CBN Broadcasting PDR 1,275,900 354 Banco de Oro Universal Bank * (A) 77,100 1,051 Bank of the Philippine Islands * 1,686,226 1,587 Manila Electric * 1,230,700 515 Philippine Long Distance Telephone ADR 29,300 1,012 SM Investments 246,490 993 - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) Emerging Markets Equity Fund June 30, 2006 - -------------------------------------------------------------------------------- Market Value Description Shares ($ Thousands) - -------------------------------------------------------------------------------- SM Prime Holdings 5,556,400 $ 816 ---------- 6,328 ---------- POLAND -- 0.3% Opoczno * 994 9 Powszechna Kasa Oszczednosci Bank Polski 93,000 1,080 Telekomunikacja Polska 375,256 2,355 ---------- 3,444 ---------- RUSSIA -- 8.6% Cherkizovo Group GDR * 88,206 1,217 Comstar United Telesystems * 63,600 381 Comstar United Telesystems GDR (A) 123,133 714 CTC Media * (B) 48,300 882 LUKOIL ADR 566,180 47,333 Mechel Steel Group OAO ADR (B) 37,700 844 MMC Norilsk Nickel ADR (B) 72,879 9,474 MMC Norilsk Nickel ADR 1,100 143 Mobile Telesystems ADR 86,000 2,532 Novolipetsk Steel GDR 223,508 4,917 OAO Gazprom ADR 682,318 29,169 Polyus Gold ADR * 60,579 2,605 Sberbank GDR * 25,771 5,058 Surgutneftegaz ADR (B) 54,700 4,048 Vimpel-Communications ADR * 47,600 2,181 ---------- 111,498 ---------- SINGAPORE -- 0.0% Goodpack * 528,000 544 ---------- SOUTH AFRICA -- 8.0% ABSA Group (B) 187,387 2,635 Alexander Forbes 662,141 1,355 AngloGold Ashanti (B) 55,188 2,747 Aspen Pharmacare Holdings 246,004 1,259 Aveng (B) 370,502 1,114 Barloworld 478,963 8,126 Bidvest Group 157,681 2,183 FirstRand 3,295,898 7,810 Foschini 263 2 Gold Fields (B) 165,567 3,761 Gold Fields ADR 190,800 4,369 Impala Platinum Holdings (B) 25,364 4,694 Imperial Holdings (B) 317,607 6,012 JD Group (B) 236,156 2,198 Kumba Resources (B) 110,293 1,980 MTN Group (B) 377,441 2,800 Murray & Roberts Holdings (B) 228,429 814 Nampak (B) 1,127,722 2,886 Naspers (B) 173,472 2,964 Nedbank Group 321,118 5,088 Network Healthcare Holdings 326,280 439 Sanlam (B) 3,674,893 7,472 Sappi (B) 611,008 7,556 Sasol 417,835 16,112 Standard Bank Group (B) 306,067 3,305 Steinhoff International Holdings (B) 309,549 927 Telkom 72,295 1,338 Tiger Brands 87,091 1,752 ---------- 103,698 ---------- SOUTH KOREA -- 15.8% Daegu Bank 104,250 1,868 - -------------------------------------------------------------------------------- Market Value Description Shares ($ Thousands) - -------------------------------------------------------------------------------- Daelim Industrial 58,600 $ 3,681 Daewoo Shipbuilding & Marine Engineering 283,010 8,323 Hankook Tire 253,270 2,977 Hanwha Chemical 190,920 1,731 Hynix Semiconductor * 141,200 4,577 Hynix Semiconductor GDS * (A) 66,400 2,094 Hyundai Department Store 15,713 1,214 Hyundai Development 83,520 3,609 Hyundai Mobis 22,250 1,883 Hyundai Motor 138,460 11,763 Industrial Bank of Korea 52,620 887 Kangwon Land 32,304 552 Kookmin Bank 306,450 25,196 Kookmin Bank ADR 79,974 6,643 Korea Electric Power 179,270 6,642 Korean Reinsurance 128,846 1,446 KT 8,250 340 KT ADR 165,400 3,548 Kumho Tire 144,150 1,960 Kumho Tire GDR (A) 45,100 307 LG Chem 86,200 2,998 LG Electronics 55,200 3,346 LG Philips LCD * 180,730 6,725 LG Philips LCD ADR * (B) 40,200 728 Lotte Shopping 9,056 3,522 Lotte Shopping GDR * (A) 91,400 1,778 POSCO 13,489 3,619 POSCO ADR 82,660 5,530 Pusan Bank 129,740 1,655 S-Oil 44,320 3,135 Samsung Electronics 70,777 44,986 Samsung Fire & Marine Insurance 49,260 6,620 Samsung SDI 16,538 1,137 Shinhan Financial Group 139,030 6,521 Shinsegae 18,896 9,461 SK 29,280 1,883 SK Telecom 4,362 938 SK Telecom ADR 213,780 5,007 Ssangyong Motor * 430,910 2,151 STX Pan Ocean 3,470,000 1,426 ---------- 204,407 ---------- TAIWAN -- 13.4% Accton Technology * 531,649 268 Acer 1,571,000 2,761 Advanced Semiconductor Engineering 10,977,910 10,850 AU Optronics 2,038,000 2,877 Benq 3,122,300 1,938 Catcher Technology 438,354 4,644 Cathay Financial Holding 1,690,180 3,696 Chang Hwa Commercial Bank 2,360,000 1,673 China Motor 1,847,130 1,854 Chinatrust Financial Holding 14,143,382 11,729 Chunghwa Telecom 2,815,000 5,086 Chunghwa Telecom ADR 124,000 2,290 Compal Electronics 8,375,754 7,994 Delta Electronics 935,550 2,658 Elan Microelectronics 171,704 85 Eva Airways 260,750 111 Far Eastern Textile 892,720 729 First Financial Holding 4,954,350 3,749 Formosa Chemicals & Fibre 608,900 940 Foxconn Technology 548,200 4,402 Fubon Financial Holding 1,713,000 1,481 High Tech Computer 339,832 9,342 - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) Emerging Markets Equity Fund June 30, 2006 - -------------------------------------------------------------------------------- Market Value Description Shares ($ Thousands) - -------------------------------------------------------------------------------- HON HAI Precision Industry 2,672,668 $ 16,510 Largan Precision 157,000 3,360 Lite-On Technology 1,623,000 2,404 Makalot Industrial 110,000 170 MediaTek 340,000 3,150 Merry Electronics 41,000 125 Nan Ya Printed Circuit Board * 12,000 93 Nien Hsing Textile 1,327,000 711 Nien Made Enterprises 1,255,000 1,411 Novatek Microelectronics 161,637 784 Optimax Technology 1,377,533 1,202 Powerchip Semiconductor 683,000 448 Powerchip Semiconductor GDR * 27,700 182 Quanta Computer 3,388,578 5,421 Radiant Opto-Electronics 343,000 554 Shin Kong Financial Holding 1,514,000 1,665 Siliconware Precision Industries 1,291,000 1,587 SinoPac Financial Holdings 8,308,230 4,196 Sunplus Technology 1,314,568 1,456 Taiwan Cement 1,310,000 963 Taiwan Mobile 1,116,632 1,111 Taiwan Semiconductor Manufacturing 11,251,213 20,294 Taiwan Semiconductor Manufacturing ADR (B) 965,759 8,866 United Microelectronics 19,439,529 11,648 Wistron 586,000 688 Yageo 6,267,440 2,168 Yuanta Core Pacific Securities 1,872,000 1,237 ---------- 173,561 ---------- THAILAND -- 2.6% Advanced Info Service (B) 1,170,300 2,760 Bangkok Bank (B) 967,900 2,689 Bangkok Land NVDR * 217,660,200 4,164 Charoen Pokphand Foods (B) 7,446,100 1,054 CP Seven Eleven 2,914,500 550 Delta Electronics Thai 1,229,400 532 Kasikornbank NVDR (B) 1,281,800 2,049 Krung Thai Bank (B) 7,169,100 1,898 Land and Houses NVDR (B) 12,423,400 2,296 PTT (B) 1,093,000 6,474 Siam Cement (B) 449,200 2,708 Siam Commercial Bank (B) 1,383,700 1,958 Siam Makro 188,500 306 Thai Oil (B) 2,414,900 4,019 ---------- 33,457 ---------- TURKEY -- 2.0% Akbank 625,459 2,992 Arcelik 160,280 913 Ford Otomotiv Sanayi 75,150 502 GSD Holding 3,318,000 2,945 Haci Omer Sabanci Holding 1,079,739 2,909 KOC Holding 305,271 907 Tupras Turkiye Petrol Rafine 47,135 786 Turkcell Iletisim Hizmet 609,239 2,781 Turkiye Garanti Bankasi 795,181 1,972 Turkiye Is Bankasi 1,715,104 8,422 ---------- 25,129 ---------- UNITED KINGDOM -- 0.4% Anglo American 95,020 3,898 - -------------------------------------------------------------------------------- Shares/ Face Amount Market Value Description ($ Thousands) (1) ($ Thousands) - -------------------------------------------------------------------------------- BHP Billiton (B) 31,846 $ 620 ---------- 4,518 ---------- UNITED STATES -- 0.0% Caspian Services * 79,500 394 ---------- Total Common Stock (Cost $936,429) ($ Thousands) 1,189,758 ---------- COMMERCIAL PAPER (C)(E) -- 6.8% UNITED STATES -- 6.8% Ajax Bambino 5.220%, 07/12/06 6,000 5,990 Asap Funding 5.336%, 07/05/06 3,000 2,998 Atlas Capital Funding 5.211%, 07/05/06 5,097 5,094 Barton Capital LLC 5.305%, 07/05/06 4,216 4,214 Bavaria TRR 5.191%, 07/03/06 6,000 5,998 Brahms Funding 5.347%, 07/07/06 6,000 5,995 Harwood Street Funding I 5.158%, 07/14/06 6,000 5,989 Ivory Funding 5.397%, 08/03/06 6,000 5,971 Main Street Warehouse Funding 5.353%, 07/28/06 5,000 4,980 Mica Funding LLC 5.273%, 07/19/06 6,000 5,984 5.174%, 07/05/06 1,500 1,499 Mortgage Interest Networking Trust 5.287%, 07/06/06 2,500 2,498 5.265%, 07/10/06 3,700 3,695 Ocala 5.313%, 07/19/06 5,000 4,987 Park Sienna LLC 5.153%, 07/17/06 8,000 7,982 Stratford Receivables 5.329%, 07/10/06 5,977 5,969 Von Karman Funding 5.263%, 07/06/06 8,000 7,994 ---------- Total Commercial Paper (Cost $87,837) ($ Thousands) 87,837 ---------- PREFERRED STOCK -- 3.9% BRAZIL -- 3.4% Braskem, Cl A 655,000 4,019 Centrais Eletricas Brasileiras, Cl B 66,060,000 1,353 Cia de Bebidas das Americas ADR 68,300 2,817 Cia de Tecidos do Norte de Minas - Coteminas 19,117,100 1,784 Cia Energetica de Minas Gerais 163,399,393 6,959 Cia Paranaense de Energia 173,960,100 1,632 Cia Vale do Rio Doce, Cl A 48,778 994 Duratex 120,900 1,089 Investimentos Itau 1,672,833 6,717 Klabin 197,800 469 Petroleo Brasileiro 21,400 1,709 Tam 212,785 5,771 Telecomunicacoes de Sao Paulo 50,976 1,078 Telemar Norte Leste 341,234 6,756 - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) Emerging Markets Equity Fund June 30, 2006 - -------------------------------------------------------------------------------- Shares/ Face Amount Market Value Description ($ Thousands) (1) ($ Thousands) - -------------------------------------------------------------------------------- Telemig Celular Participacoes 788,963,610 $ 1,400 ---------- 44,547 ---------- SOUTH KOREA -- 0.5% Hyundai Motor 73,890 3,590 Hyundai Motor (Second Preferred) 55,460 2,777 ---------- 6,367 ---------- Total Preferred Stock (Cost $35,874) ($ Thousands) 50,914 ---------- CORPORATE OBLIGATIONS (A)(C)(D) -- 1.0% UNITED STATES -- 1.0% Beta Finance MTN 5.358%, 05/10/07 3,000 2,999 Cheyne Finance LLC MTN 5.363%, 04/16/07 1,000 1,000 K2 LLC MTN 5.358%, 05/21/07 2,000 2,000 5.145%, 04/18/07 1,500 1,500 Links Finance LLC MTN 5.393%, 05/21/07 2,000 2,000 5.145%, 09/12/06 1,000 1,000 Premier Asset Collateralization LLC MTN 5.303%, 04/25/07 1,500 1,500 Sigma Finance MTN 5.140%, 04/18/07 1,500 1,500 ---------- Total Corporate Obligations (Cost $13,499) ($ Thousands) 13,499 ---------- CASH EQUIVALENTS** -- 0.6% UNITED STATES -- 0.6% Barclays Global Investors Funds, Prime Money Market Fund, 5.04% (C) 557,486 557 SEI Daily Income Trust, Prime Obligations Fund, Cl A, 5.07% + 5,163,639 5,164 The Reserve Funds, Primary Fund, Cl 8, 5.23% (C) 2,022,034 2,022 ---------- Total Cash Equivalents (Cost $7,743) ($ Thousands) 7,743 ---------- ASSET-BACKED SECURITIES (A)(C)(D) -- 0.2% UNITED STATES -- 0.2% Lothian Mortgages Master Issue Trust, Ser 2006-1A, Cl A1 5.350%, 01/24/28 2,000 2,000 ---------- Total Asset-Backed Securities (Cost $2,000) ($ Thousands) 2,000 ---------- Number of Warrants --------- EQUITY LINKED WARRANTS (F) -- 0.0% HONG KONG -- 0.0% China Overseas Land & Investment* 940 -- ---------- - -------------------------------------------------------------------------------- Face Amount Value Description ($ Thousands)(1) ($ Thousands) - -------------------------------------------------------------------------------- Total Equity Linked Warrants (Cost $0) ($ Thousands) $ -- ---------- DEBENTURE BOND -- 0.0% BRAZIL -- 0.0% Companhia Vale do Rio Doce* 0.000%, 09/30/49 8 -- ---------- Total Debenture Bond (Cost $0) ($ Thousands) -- ---------- REPURCHASE AGREEMENTS (C)(G) -- 4.3% Bank of America 5.230%, dated 06/30/06, to be repurchased on 07/03/06, repurchase price $15,006,538 (collateralized by a U.S. Government Obligation, par value $18,733,641, 5.000%, 03/01/35; with total market value $15,300,000) 15,000 15,000 Barclays Capital 5.150%, dated 06/30/06, to be repurchased on 07/03/06, repurchase price $10,004,292 (collateralized by a U.S. Government Obligation, par value $10,635,000, 0.000%, 04/03/07; with total market value $10,200,029) 10,000 10,000 Deutsche Bank 5.200%, dated 06/30/06, to be repurchased on 07/03/06, repurchase price $10,004,333 (collateralized by a U.S. Government Obligation, par value $10,532,658, 7.000%, 03/01/36; with total market value $10,200,000) 10,000 10,000 Goldman Sachs 5.290%, dated 06/30/06, to be repurchased on 07/03/06, repurchase price $10,004,408 (collateralized by a U.S. Government Obligation, par value $11,242,567, 5.000%, 08/01/35; with total market value $10,200,000) 10,000 10,000 Merrill Lynch 5.220%, dated 06/30/06, to be repurchased on 07/03/06, repurchase price $10,004,350 (collateralized by various U.S. Government Obligations, ranging in par value $4,264,816-$8,272,601, 0.000%, 01/01/30-04/01/35; with total market value $10,203,082) 10,000 10,000 ---------- Total Repurchase Agreements (Cost $55,000) ($ Thousands) 55,000 ---------- - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) Emerging Markets Equity Fund June 30, 2006 - -------------------------------------------------------------------------------- Market Value Description ($ Thousands) - -------------------------------------------------------------------------------- Total Investments -- 108.9% (Cost $1,138,382) ($ Thousands)++ $1,406,751 ========== Percentages are based on Net Assets of $1,291,717 ($ Thousands). * Non-Income Producing Security ** Rate shown is the 7-day effective yield as of June 30, 2006. + Pursuant to an exemptive order issued by the Securities and Exchange Commission, the Fund may invest in the SEI money market funds, provided that investments in the money market funds do not exceed 25% of the Fund's total assets. (1) In U.S. dollars unless otherwise indicated (A) This security was sold within the terms of a private placement memorandum, exempt from registration under Section 3A-4, 4(2), or 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other "accredited investors." These securities have been determined to be liquid under guidelines established by the Board of Trustees. (B) This security or a partial position of this security is on loan at June 30, 2006. The total value of securities on loan at June 30, 2006 was $149,647 ($ Thousands). (C) This security was purchased with cash collateral held from securities lending. The total value of such securities as of June 30, 2006 was $160,915 ($ Thousands). (D) Variable Rate Security -- The rate reported on the Schedule of Investments is the rate in effect as of June 30, 2006. (E) The rate reported is the effective yield at time of purchase. (F) Securities considered illiquid. The total value of such securities as of June 30, 2006 was $0 and represented 0.00% of the Fund's net assets. (G) Tri-Party Repurchase Agreement ADR -- American Depositary Receipt Cl -- Class GDR -- Global Depositary Receipt GDS -- Global Depositary Share LLC -- Limited Liability Company MTN -- Medium Term Note NVDR -- Non-Voting Depositary Receipt PDR -- Philippine Depositary Receipt Ser -- Series ++ At June 30, 2006, the tax basis cost of the Fund's investments was $1,138,382 ($ Thousands), and the unrealized appreciation and depreciation were $309,131 ($ Thousands) and $(40,762), respectively. For information regarding the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual and annual financial statements. Amounts designated as "-" are either $0 or have been rounded to $0. - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) International Fixed Income Fund June 30, 2006 - -------------------------------------------------------------------------------- Face Amount Market Value Description ($ Thousands)(1) ($ Thousands) - -------------------------------------------------------------------------------- GLOBAL BONDS -- 73.2% AUSTRALIA -- 1.3% Government of Australia 6.000%, 02/15/17 AUD 14,564 $ 11,002 ------------- AUSTRIA -- 0.2% Telekom Finanzmanagement 5.000%, 07/22/13 1,100 1,416 ------------- BELGIUM -- 2.2% Kingdom of Belgium, Ser 31 5.500%, 03/28/28 12,160 18,104 ------------- BRAZIL -- 0.1% Federal Republic of Brazil 8.250%, 01/20/34 1,006 1,056 ------------- CANADA -- 1.8% Bell Canada MTN 5.000%, 02/15/17 774 661 Government of Canada 4.500%, 06/01/15 190 170 4.000%, 09/01/10 11,971 10,572 Kinder Morgan Finance 5.350%, 01/05/11 1,313 1,210 Province of Ontario 1.875%, 01/25/10 JPY 170,000 1,522 YPG Holdings MTN 5.250%, 02/15/16 1,500 1,281 ------------- 15,416 ------------- CAYMAN ISLANDS -- 0.7% BES Finance 6.250%, 05/17/11 EUR 1,000 1,384 Mizuho Financial Group 8.375%, 12/29/49 80 84 Mizuho Financial Group (D) 4.750%, 04/15/14 EUR 1,380 1,793 Resona Preferred Global Securities (D) (E) 7.191%, 07/30/49 818 821 Yorkshire Power Finance 7.250%, 08/04/28 GBP 750 1,643 ------------- 5,725 ------------- DENMARK -- 0.2% Danske Bank MTN, Ser E (D) 5.875%, 03/26/15 1,000 1,377 ------------- FINLAND -- 0.0% Government of Finland 4.250%, 07/04/15 150 195 ------------- FRANCE -- 7.8% Caisse Nationale des Autoroutes 4.500%, 03/28/18 1,500 1,942 Caisse Refinancement de l'Habitat 4.250%, 10/25/14 600 767 Government of France 5.750%, 10/25/32 15,442 24,045 4.000%, 04/25/55 370 442 3.500%, 04/25/15 3,794 4,659 Government of France (A) 4.000%, 04/25/09 24,510 31,611 - -------------------------------------------------------------------------------- Face Amount Market Value Description ($ Thousands)(1) ($ Thousands) - -------------------------------------------------------------------------------- Veolia Environnement 5.875%, 06/27/08 1,740 $ 2,307 ------------- 65,773 ------------- GERMANY -- 7.7% Aries Vermogensverwalting Registered 9.600%, 10/25/14 1,000 1,245 Bayer (D) 5.000%, 07/29/15 400 454 Bundesschatzanweisungen (A) 2.500%, 09/22/06 15,000 19,157 Deutsche Bundesrepublik 5.250%, 01/04/08 4,995 6,544 3.750%, 01/04/15 11,388 14,269 Deutsche Bundesrepublik (A) 4.750%, 07/04/34 8,899 12,146 Deutsche Pfandbriefbank 4.500%, 01/15/18 2,400 3,103 Henkel Kgaa (D) 5.375%, 11/25/04 400 464 KFW 2.050%, 02/16/26 JPY 782,000 6,601 Landwirtschaftliche Rentenbank 1.375%, 04/25/13 JPY 70,000 597 ------------- 64,580 ------------- ITALY -- 2.5% Buoni Poliennali Del Tesoro 5.750%, 02/01/33 10,170 15,146 Sanpaolo IMI MTN, Ser E 6.375%, 04/06/10 4,300 5,903 ------------- 21,049 ------------- JAPAN -- 19.9% Abbott Japan 1.050%, 11/06/08 120,000 1,047 Development Bank of Japan 2.300%, 03/19/26 830,000 7,045 1.600%, 06/20/14 840,000 7,237 Government of Japan 10 Year Bond, Ser 252 1.000%, 06/20/13 1,489,450 12,440 Government of Japan 10 Year Bond, Ser 254 1.400%, 09/20/13 6,150,000 52,651 Government of Japan 10 Year Bond, Ser 268 1.500%, 03/20/15 222,600 1,894 Government of Japan 10 Year Bond, Ser 279 2.000%, 03/20/16 711,000 6,259 Government of Japan 20 Year Bond, Ser 48 2.500%, 12/21/20 674,400 6,166 Government of Japan 20 Year Bond, Ser 82 2.100%, 09/20/25 894,000 7,610 Government of Japan 30 Year Bond, Ser 22 2.500%, 03/20/36 287,000 2,507 Government of Japan CPI Linked Bond, Ser 4 0.500%, 06/10/15 1,410 12 - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) International Fixed Income Fund June 30, 2006 - -------------------------------------------------------------------------------- Face Amount Market Value Description ($ Thousands)(1) ($ Thousands) - -------------------------------------------------------------------------------- Government of Japan CPI Linked Bond, Ser 5 0.800%, 09/10/15 3,115,904 $ 26,769 Japan Finance for Municipal Enterprises 1.550%, 02/21/12 3,879,000 33,973 Sumitomo Mitsui Banking (D) (E) 5.625%, 10/15/15 415 387 Sumitomo Mitsui Banking (D) 4.375%, 10/27/14 EUR 830 1,064 ------------- 167,061 ------------- LUXEMBOURG -- 0.3% Basell AF SCA Registered 8.375%, 08/15/15 310 400 Glencore Finance Europe 5.375%, 09/30/11 530 676 Tyco International Group 6.000%, 11/15/13 600 595 Tyco International Group 6.500%, 11/21/31 GBP 316 619 ------------- 2,290 ------------- MEXICO -- 2.0% Mexican Bonos, Ser M20 10.000%, 12/05/24 17,944 1,661 Mexican Bonos, Ser M7 8.000%, 12/24/08 156,134 13,805 Mexican Bonos, Ser MI10 9.500%, 12/18/14 11,240 1,020 ------------- 16,486 ------------- NETHERLANDS -- 2.5% BMW Finance MTN 5.000%, 08/06/18 700 919 E.ON International Finance MTN, Ser E 5.750%, 05/29/09 3,515 4,707 EADS Finance MTN, Ser E 4.625%, 03/03/10 2,130 2,753 Government of Netherlands 7.500%, 01/15/23 796 1,406 ING Bank MTN, Ser E 5.500%, 01/04/12 1,000 1,355 ING Groep MTN, Ser E (D) 4.176%, 06/29/49 700 839 Koninklijke Philips Electronic 5.750%, 05/16/08 950 1,255 Saecure, Ser A2 (D) 5.710%, 11/25/07 6,000 7,872 ------------- 21,106 ------------- NORWAY -- 0.4% Government of Norway 6.500%, 05/15/13 18,516 3,362 ------------- PANAMA -- 0.2% Republic of Panama 6.700%, 01/26/36 1,525 1,395 ------------- POLAND -- 1.5% Republic of Poland 6.250%, 10/24/15 40,040 13,050 ------------- - -------------------------------------------------------------------------------- Face Amount Market Value Description ($ Thousands)(1) ($ Thousands) - -------------------------------------------------------------------------------- RUSSIA -- 0.3% Russia Federation Registered (G) 5.000%, 03/31/30 2,130 $ 2,267 ------------- SOUTH AFRICA -- 0.3% Foodcorp Registered 8.875%, 06/15/12 435 581 Republic of South Africa, Ser R157 13.500%, 09/15/15 11,547 2,108 ------------- 2,689 ------------- SPAIN -- 2.4% Government of Spain 6.150%, 01/31/13 14,030 20,193 ------------- SUPRA-NATIONAL -- 0.4% European Investment Bank 5.375%, 10/15/12 EUR 1,000 1,374 3.125%, 10/15/15 EUR 1,000 1,180 Ras Laffan III (E) 5.838%, 09/30/27 955 889 ------------- 3,443 ------------- SWEDEN -- 2.8% Kingdom of Sweden, Ser 1045 5.250%, 03/15/11 135,605 19,971 Svenska Handelsbanken MTN, Ser E (D) 4.194%, 12/29/49 840 1,008 Swedbank MTN, Ser E (D) 5.750%, 03/17/16 750 1,379 Vattenfall Treasury (D) 5.250%, 06/29/49 1,100 1,351 ------------- 23,709 ------------- UNITED KINGDOM -- 12.4% AIB UK 1 (D) EUR 4.781%, 12/17/49 350 419 Abbey National Treasury Services 5.375%, 12/30/09 700 1,303 Aviva (D) EUR 5.700%, 09/29/49 1,000 1,327 Bank of Scotland MTN, Ser E 6.125%, 02/05/13 EUR 1,630 2,303 5.500%, 10/29/12 EUR 2,390 3,249 Barclays Bank MTN, Ser E 5.750%, 09/14/26 500 973 British Telecommunications 5.750%, 12/07/28 200 350 Chester Asset Receivables 6.125%, 10/15/10 EUR 4,260 5,869 Emap 6.250%, 12/09/13 683 1,269 Friends Provident (D) 6.875%, 11/21/19 750 1,470 HBOS MTN, Ser E (D) 5.125%, 10/29/49 EUR 700 905 Halifax MTN, Ser E 6.375%, 04/03/08 500 943 Holmes Financing No. 4, Ser 2A (D) 5.050%, 07/15/06 EUR 4,000 5,115 - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) International Fixed Income Fund June 30, 2006 - -------------------------------------------------------------------------------- Face Amount Market Value Description ($ Thousands)(1) ($ Thousands) - -------------------------------------------------------------------------------- Imperial Tobacco Finance MTN, Ser E 6.250%, 06/06/07 EUR 1,510 $ 1,975 Ineo's Group Holdings 7.875%, 02/15/16 EUR 200 236 Lloyds TSB Bank (D) 6.350%, 10/29/49 EUR 700 976 Lloyds TSB Bank MTN, Ser E 6.625%, 03/30/15 400 803 MBNA Europe Funding MTN, Ser E 4.500%, 01/23/09 EUR 1,000 1,297 Marks & Spencer MTN, Ser E 5.625%, 03/24/14 500 911 Mmo2 6.375%, 01/25/07 EUR 1,100 1,429 National Westminster Bank 6.500%, 09/07/21 400 825 United Kingdom Treasury 5.000%, 03/07/25 838 1,638 4.750%, 09/07/15 8,780 16,264 4.250%, 06/07/32 8,590 15,546 4.000%, 03/07/09 16,788 30,425 United Utilities Water MTN, Ser E 6.625%, 11/08/07 EUR 2,180 2,897 Vodafone Group MTN, Ser E 5.900%, 11/26/32 500 933 Vodafone Group MTN, Ser E 4.250%, 05/27/09 EUR 1,500 1,926 ------------- 103,576 ------------- UNITED STATES -- 3.3% AK Steel 7.875%, 02/15/09 420 418 ASIF III Jersey 0.950%, 07/15/09 JPY 100,000 866 American Express Credit MTN, Ser E 5.625%, 08/18/09 GBP 800 1,492 Autonation (D) (E) 7.045%, 04/15/13 80 80 Autonation (E) 7.000%, 04/15/14 710 699 CIT Group MTN (D) 5.393%, 05/18/07 765 766 CIT Group MTN, Ser E 5.500%, 12/15/08 GBP 750 1,390 Cablevision Systems, Ser B 8.000%, 04/15/12 430 424 Chase Credit Card Master Trust, Ser 1998-4 5.000%, 08/15/08 EUR 5,200 6,797 Directv Holdings 6.375%, 06/15/15 420 387 Embarq 7.082%, 06/01/16 675 671 Ford Motor Credit 6.625%, 06/16/08 660 628 6.500%, 01/25/07 410 409 4.950%, 01/15/08 214 201 General Electric Capital MTN, Ser E 0.750%, 02/05/09 JPY 70,000 607 Genworth Financial 1.600%, 06/20/11 JPY 160,000 1,374 Goldman Sachs Group 5.125%, 01/15/15 560 524 - -------------------------------------------------------------------------------- Face Amount Market Value Description ($ Thousands)(1) ($ Thousands) - -------------------------------------------------------------------------------- HSBC Finance 6.125%, 01/22/10 GBP 600 $ 1,136 Hertz (E) 8.875%, 01/01/14 400 410 ILFC E-Capital Trust I (D) (E) 5.900%, 12/21/65 270 263 MGM Mirage 8.375%, 02/01/11 380 390 NRG Energy 7.375%, 02/01/16 400 390 Nevada Power (E) 6.500%, 05/15/18 246 240 Pfizer 1.800%, 02/22/16 JPY 190,000 1,596 0.800%, 03/18/08 JPY 23,000 201 Qwest Communications International 7.500%, 02/15/14 600 585 Time Warner Entertainment 8.375%, 03/15/23 755 840 Toyota Motor Credit 0.750%, 06/09/08 JPY 180,000 1,571 Union Carbide 7.750%, 10/01/96 910 908 Wachovia Capital Trust III (D) 5.800%, 03/15/11 687 667 Williams 7.875%, 09/01/21 370 376 ------------- 27,306 ------------- Total Global Bonds (Cost $604,536) ($ Thousands) 613,626 ------------- COMMERCIAL PAPER (C) -- 5.8% UNITED STATES -- 5.8% Altius I Funding (B) 5.333%, 07/05/06 398 398 Buckingham CDO (B) 5.346%, 07/21/06 1,215 1,210 Buckingham CDO II (B) 5.346%, 07/21/06 746 743 5.154%, 07/07/06 681 678 Danske Bank 5.273%, 07/28/06 4,000 3,984 5.256%, 08/08/06 10,000 9,945 Elysian Funding LLC (B) 5.216%, 08/04/06 1,742 1,727 5.132%, 07/10/06 995 987 KKR Pacific Funding (B) 5.134%, 07/07/06 498 495 Lakeside Funding (B) 5.170%, 07/10/06 577 577 Lloyds Bank 5.254%, 07/27/06 10,000 9,964 Mica Funding (B) 5.284%, 07/19/06 498 495 Ocala Funding (B) 5.385%, 07/07/06 498 497 Rams Funding (B) 5.369%, 07/25/06 136 135 5.325%, 07/20/06 1,037 1,033 Rhineland Funding (B) 5.392%, 07/28/06 995 991 Svenska Handlesbanken 5.299%, 08/03/06 5,000 4,978 - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) International Fixed Income Fund June 30, 2006 - -------------------------------------------------------------------------------- Face Amount Market Value Description ($ Thousands)(1) ($ Thousands) - -------------------------------------------------------------------------------- 1.770%, 07/31/06 10,000 $ 9,956 ------------- Total Commercial Paper (Cost $48,793) ($ Thousands) 48,793 ------------- ASSET-BACKED SECURITIES (D) -- 10.1% ITALY -- 0.4% Campidoglio Finance, Ser 1, Cl A 2.949%, 07/26/09 2,500 3,198 ------------- NETHERLANDS -- 2.5% Arena, Ser 2003-1, Cl A2 4.300%, 05/19/55 9,000 11,537 Delphinus, Ser 1, Cl A2 4.122%, 04/25/93 4,000 5,119 Saecure, Ser 5, Cl A 3.004%, 05/25/42 3,588 4,585 ------------- 21,241 ------------- UNITED KINGDOM -- 3.7% Chester Asset Receivables, Ser C1, Cl C 3.614%, 09/15/13 EUR 1,350 1,752 Granite Master Issuer, Ser 2, Cl C2 3.443%, 12/20/54 2,000 2,561 Karta, Ser 1, Cl A 2.914%, 07/15/12 2,000 2,558 Permanent Financing, Ser 1, Cl 4A1 (D) 5.100%, 06/11/07 EUR 9,200 11,926 Sherwood Castle Funding, Ser 1, Cl A 3.159%, 08/15/10 3,500 4,491 Sherwood Castle Funding, Ser 2, Cl A 4.914%, 06/15/16 2,300 4,259 The Mall Funding, Ser 1, Cl A 4.822%, 04/22/14 2,000 3,697 ------------- 31,244 ------------- UNITED STATES -- 3.5% Cheyne High Grade, Ser 2004-1A, Cl AM1 (B) (E) 5.180%, 11/10/06 498 498 Citibank Credit Card Issurance Trust, Ser A4, Cl A4 5.375%, 04/10/13 EUR 6,800 9,147 Commodore, Ser 2003-2A, Cl A1MM (B) (E) 5.380%, 12/12/38 458 458 Duke Funding, Ser 2004-6B, Cl A1S1 (B) (E) 5.093%, 04/09/07 746 746 MBNA Credit Card Master Trust, Ser 2002-A2, Cl A 5.600%, 07/17/14 EUR 6,650 9,053 MBNA Credit Card Master Trust, Ser A11, Cl A11 3.015%, 03/19/12 EUR 1,500 1,927 MBNA Credit Card Master Trust, Ser A9, Cl A9 2.986%, 02/20/14 EUR 2,000 2,558 - -------------------------------------------------------------------------------- Face Amount Market Value Description ($ Thousands)(1) ($ Thousands) - -------------------------------------------------------------------------------- Newcastle CDO Limited, Ser 2005-6A, Cl IM1 (B) (E) 5.384%, 04/24/07 199 $ 199 Park Place Securities NIM Trust, Ser 2004-MM1, Cl AM6 (B) (E) 5.353%, 11/27/06 560 560 RMAC, Ser 2004-NS3A, Cl A1 (B) (E) 5.170%, 09/12/06 93 93 SLM Student Loan Trust, Ser 2, Cl A5 2.959%, 01/25/24 EUR 1,000 1,285 Saturn Ventures II (B) (E) 5.190%, 08/07/06 929 929 TIAA Real Estate, Ser 2003-1A, Cl A1 (B) (E) 5.371%, 03/28/07 622 622 Whitehawk CDO Funding, Ser 2004-1A, Cl AMME (B) (E) 5.349%, 09/15/06 149 149 Witherspoon CDO Funding (B) (E) 5.209%, 09/15/06 697 697 ------------- 28,921 ------------- Total Asset-Backed Securities (Cost $78,160) ($ Thousands) 84,604 ------------- CORPORATE OBLIGATIONS (B) -- 3.8% UNITED STATES -- 3.8% Allstate Life Global Funding II MTN (D) (E) 5.219%, 07/16/07 458 458 American General Finance (D) (E) 5.229%, 07/16/07 1,443 1,443 American General Finance MTN, Ser F 3.963%, 07/14/06 100 102 Bear Stearns EXL (D) 5.239%, 07/16/07 1,772 1,772 Caterpillar Financial Services MTN, Ser F (D) 5.148%, 07/10/06 498 498 Countrywide Financial Services MTN, (D) 5.560%, 06/27/07 597 597 Countrywide Financial Services MTN, Ser A (D) 5.380%, 09/13/06 1,841 1,841 5.210%, 11/03/06 1,045 1,045 Dekabank (D) (E) 5.107%, 05/18/07 1,841 1,841 Glitnir Bank (D) (E) 5.180%, 04/06/07 1,493 1,493 Irish Life & Permanent MTN, Ser X (D) (E) 5.331%, 07/23/07 1,324 1,324 Islandsbanki (D) (E) 5.344%, 03/22/07 846 846 Jackson National Life Funding (D) (E) 5.109%, 06/04/07 2,190 2,190 Kaupthing Bank MTN (D) (E) 5.327%, 03/20/07 2,488 2,488 Landsbanki Islands (D) (E) 5.288%, 03/16/07 1,891 1,891 - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) International Fixed Income Fund June 30, 2006 - -------------------------------------------------------------------------------- Face Amount Market Value Description ($ Thousands)(1) ($ Thousands) - -------------------------------------------------------------------------------- Morgan Stanley EXL (D) 5.189%, 08/06/07 348 $ 348 Morgan Stanley EXL, Ser S (D) 5.153%, 08/06/07 498 498 Natexis Banques (D) (E) 5.191%, 07/16/07 970 970 Nationwide Building Society (D) (E) 5.547%, 07/27/07 547 547 5.160%, 07/09/07 995 995 Nordbank (D) (E) 5.343%, 06/25/07 1,692 1,692 Northern Rock (D) (E) 5.139%, 08/03/07 1,025 1,025 Pacific Life Global Funding (D) (E) 5.196%, 07/13/07 747 747 Premium Asset Trust, Ser 2004-10 (D) (E) 5.209%, 07/16/07 1,393 1,393 SLM EXL, Ser S (D) (E) 5.199%, 07/16/07 1,095 1,095 Sigma Finance MTN (E) 4.680%, 11/09/06 537 537 Skandinav Enskilda Bank (D) (E) 5.247%, 06/18/07 1,095 1,095 Stanfield Victoria MTN (D) (E) 5.385%, 06/11/07 995 995 ------------- Total Corporate Obligations (Cost $31,766) ($ Thousands) 31,766 ------------- LOAN PARTICIPATIONS -- 2.4% Advantage Sales & Marketing Term Loan 7.220%, 03/29/13 500 494 Allied Waste Industries Term Loan 6.880%, 01/15/12 1,081 1,075 6.480%, 01/15/12 420 418 Amsted Industries Term Loan 7.010%, 03/28/13 250 250 Audatex North America Term Loan 7.300%, 03/20/13 375 379 Beverly Enterprises Term Loan 0.000%, 07/24/11 375 376 C/R Gas Holdings I Term Loan 7.650%, 04/20/13 83 83 Cablevision, Ser B Term Loan 6.740%, 03/14/13 500 497 Chapter Communications Term Loan 7.760%, 04/28/13 962 963 Crown Castle International Term Loan 7.650%, 06/01/14 750 753 Eastman Kodak Term Loan 7.330%, 10/18/12 499 497 Education Management Term Loan 7.630%, 05/26/13 750 753 Ferro Term Loan 8.530%, 06/06/12 1,609 1,609 Georgia Pacific Term Loan 8.300%, 02/14/14 1,250 1,260 Hexion Specialty Term Loan 7.500%, 05/04/13 178 177 7.130%, 05/04/13 822 817 Jean Coutu Group Term Loan 7.670%, 07/30/11 654 654 - -------------------------------------------------------------------------------- Face Amount Market Value Description ($ Thousands)(1) ($ Thousands) - -------------------------------------------------------------------------------- John Maneely Term Loan 8.090%, 03/24/13 175 $ 176 LSP General Finance Term Loan 7.750%, 03/27/13 480 478 0.000%, 01/03/07 20 20 Lear Term Loan 7.990%, 04/25/12 825 817 London Arena & Waterfront Term Loan 8.780%, 01/31/12 1,197 1,208 Mediacom Broadband Term Loan 7.380%, 01/31/15 750 745 Multiplan Term Loan 7.500%, 05/31/13 1,000 995 National Rental Term Loan 7.420%, 03/31/13 400 399 Ntelos Ist Lien B-1 Term Loan 7.600%, 08/24/11 1,000 998 Protection Onealarm Term Loan 8.000%, 03/31/12 600 600 Quizno's Term Loan 7.750%, 05/05/13 500 498 Sensata Technologies Term Loan 6.860%, 04/27/13 500 497 Spectrum Brand Term Loan 8.080%, 02/07/12 500 501 Sports Authority Term Loan 7.750%, 05/03/13 500 498 Supervalu Term Loan 0.000%, 04/03/12 748 746 ------------- Total Loan Participations (Cost $20,308) ($ Thousands) 20,231 ------------- STRUCTURED NOTES -- 1.4% SOUTH KOREA -- 1.4% Korea Structured Note 5.250%, 12/10/10 8,200 8,623 5.000%, 12/10/10 3,353 3,317 ------------- Total Structured Notes (Cost $11,706) ($ Thousands) 11,940 ------------- U.S. TREASURY OBLIGATIONS -- 0.7% UNITED STATES -- 0.7% U.S. Treasury Inflationary Index Notes 3.375%, 04/15/32 8 9 2.375%, 01/15/25 6 6 U.S. Treasury Inflationary Index Notes (A) 2.000%, 01/15/26 6,573 6,017 U.S. Treasury Notes 4.250%, 11/15/14 90 85 ------------- Total U.S. Treasury Obligations (Cost $6,632) ($ Thousands) 6,117 ------------- U.S. GOVERNMENT AGENCY OBLIGATIONS -- 0.7% UNITED STATES -- 0.7% FHLMC 4.750%, 01/15/13 EUR 1,000 1,324 - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) International Fixed Income Fund June 30, 2006 - -------------------------------------------------------------------------------- Face Amount Market Value Description ($ Thousands)(1) ($ Thousands) - -------------------------------------------------------------------------------- SLMA 3.800%, 06/17/10 EUR 3,500 $ 4,432 ------------- Total U.S. Government Agency Obligations (Cost $5,170) ($ Thousands) 5,756 ------------- TIME DEPOSITS (B) -- 0.5% UNITED STATES -- 0.5% Societe Generale 5.313%, 07/03/06 3,052 3,052 Wells Fargo 5.188%, 07/03/06 995 995 ------------- Total Time Deposits (Cost $4,047) ($ Thousands) 4,047 ------------- MASTER NOTES -- 0.3% UNITED STATES -- 0.3% Bank of America (B) (D) 5.383%, 07/03/06 2,488 2,488 ------------- Total Master Notes (Cost $2,488) ($ Thousands) 2,488 ------------- CERTIFICATES OF DEPOSIT (B) -- 0.2% UNITED STATES -- 0.2% Barclays Bank 5.440%, 06/11/07 498 498 CC USA (E) 5.520%, 06/18/07 995 995 US Trust Company New York (D) 5.213%, 03/13/07 398 398 ------------- Total Certificates of Deposit (Cost $1,891) ($ Thousands) 1,891 ------------- REPURCHASE AGREEMENTS (B)(F) -- 1.2% Barclays Capital 5.200%, dated 06/30/06, to be repurchased on 07/03/06, repurchase price $1,060,406 (collateralized by various U.S. Government Obligations, ranging in par value $123,401-$964,803, 0.000%-2.750%, 10/15/06-04/03/07; with total market value $1,081,149) 1,060 1,060 Deutsche Bank 5.200%, dated 06/30/06, to be repurchased on 07/03/06, repurchase price $3,517,924 (collateralized by various U.S. Government Obligations, ranging in par value $62,785-$1,261,720, 0.000%-7.250%, 01/23/07-01/15/10; with total market value $3,586,741) 3,516 3,516 - -------------------------------------------------------------------------------- Face Amount Market Value Description ($ Thousands)91) ($ Thousands) - -------------------------------------------------------------------------------- Lehman Brothers 5.200%, dated 06/30/06, to be repurchased on 07/03/06, repurchase price $5,644,960 (collateralized by various U.S. Government Obligations, ranging in par value $344,533-$626,510, 2.625%-7.625%, 08/11/06-10/27/25; with total market value $5,644,960) 5,643 $ 5,643 ------------- Total Repurchase Agreements (Cost $10,219) ($ Thousands) 10,219 ------------- Total Investments -- 100.3% (Cost $825,716) ($ Thousands)+ $ 841,478 ============= - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) International Fixed Income Fund June 30, 2006
Forward Foreign Currency Contracts -- The following forward foreign currency contracts were outstanding at June 30, 2006: - --------------------------------------------------------------------------------------------------- Unrealized Currency Currency Appreciation Settlement to Deliver to Receive (Depreciation) Date (Thousands) (Thousands) ($ Thousands) - --------------------------------------------------------------------------------------------------- 7/14/06-8/22/06 AUD 32,526 USD 24,303 $ 154 8/22/06 AUD 21,620 NZD 26,291 (55) 8/22/06 AUD 7,270 CAD 6,082 83 7/10/06-8/22/06 CAD 33,171 USD 29,726 (136) 8/22/06 CAD 2,064 AUD 2,470 (26) 8/22/06 CHF 28,448 USD 23,332 (26) 8/22/06 CHF 21,109 GBP 9,360 (4) 8/22/06 CHF 19,737 EUR 12,670 48 8/22/06 DKK 7,221 USD 1,209 (33) 7/18/06-8/22/06 EUR 365,586 USD 462,258 (6,585) 8/22/06 EUR 23,780 SEK 220,058 184 8/22/06 EUR 10,720 NOK 84,216 (165) 8/22/06 EUR 22,560 JPY 3,185,118 (874) 8/22/06 EUR 29,210 GBP 20,123 (218) 8/22/06 EUR 10,510 CHF 16,375 (37) 8/16/06-8/22/06 GBP 85,893 USD 155,520 (3,488) 8/22/06 GBP 16,685 EUR 24,130 66 8/22/06 GBP 9,610 CHF 21,642 (21) 8/22/06 ISK 823,072 USD 10,754 14 7/31/06-8/30/06 JPY 34,988,340 USD 313,099 4,903 8/22/06 JPY 1,490,839 EUR 10,360 153 8/14/06-9/18/06 KRW 18,719,897 USD 19,493 (292) 7/24/06-8/22/06 MXP 521,827 USD 45,795 (357) 7/27/06-8/22/06 NOK 44,941 USD 7,199 (45) 8/22/06 NOK 33,220 SEK 38,518 12 8/22/06 NOK 61,244 EUR 7,830 164 8/22/06 NZD 62,080 USD 38,731 972 8/22/06 NZD 19,275 AUD 16,100 226 8/9/06-8/22/06 PLZ 106,684 USD 34,432 883 8/22/06 PLZ 7,143 EUR 1,840 114 8/22/06-8/28/06 SEK 168,565 USD 23,095 (424) 8/22/06 SEK 47,946 NOK 40,050 (225) 8/22/06 SEK 225,000 EUR 24,250 (270) 8/22/06 SGD 22,372 USD 14,139 (44) 8/22/06 USD 2,409 ZAR 14,968 (316) 8/22/06 USD 14,164 SGD 22,345 3 8/22/06-8/28/06 USD 12,767 SEK 94,642 432 8/9/06-8/22/06 USD 22,110 PLZ 69,528 (244) 8/22/06 USD 31,010 NZD 50,288 (423) 8/22/06 USD 992 NOK 6,200 9 7/24/06-8/22/06 USD 27,924 MXP 316,929 109 8/22/06 USD 12,367 KRW 11,783 81 - ---------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) International Fixed Income Fund June 30, 2006 Forward Foreign Currency Contracts -- The following forward foreign currency contracts were outstanding at June 30, 2006 (continued): - --------------------------------------------------------------------------------------------------- 7/31/06-8/22/06 USD 110,109 JPY 12,426,560 $ (642) 8/22/06 USD 10,789 ISK 825,732 (14) 8/16/06-8/22/06 USD 58,304 GBP 31,531 69 7/18/06-8/22/06 USD 139,583 EUR 109,848 1,279 8/22/06 USD 759 DKK 4,529 21 8/22/06 USD 18,888 CHF 23,190 153 8/22/06 USD 16,376 CAD 18,282 93 8/22/06 USD 20,991 AUD 28,105 (131) 7/28/06-8/22/06 ZAR 32,132 USD 5,029 532 -------------- $ (4,338) ==============
Futures -- The following futures contracts were held by the Fund at June 30, 2006, is as follows: Unrealized Appreciation Type of Number of Expiration (Depreciation) Contract Contracts Date ($ Thousands) - ------------------------------------------------------------------------ Euro-Bund 9 September 2006 $ (19) Japan 10-Year Bond 1 September 2006 (13) U.S. T-Bond (CBT) (48) September 2006 (21) U.S. 5-Year Note (CBT) (6) September 2006 3 U.S. 10-Year Note 39 September 2006 22 U.S. 10-Year Note (279) September 2006 111 -------------- $ 83 ============== Percentages are based on Net Assets of $838,161 ($ Thousands). (1) In local currency unless otherwise indicated. (A) This security or a partial position of this security is on loan at June 30, 2006. The total value of securities on loan at June 30, 2006 was $61,283 ($ Thousands). (B) This security was purchased with cash collateral held from securities lending. The total value of such securities as of June 30, 2006 was $65,328 ($ Thousands). (C) The rate reported is the effective yield at time of purchase. (D) Variable Rate Security -- The rate reported on the Schedule of Investments is the rate in effect as of June 30, 2006. (E) This security was sold within the terms of a private placement memorandum, exempt from registration under Section 3A-4, 4(2), or 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other "accredited investors." These securities have been determined to be liquid under guidelines established by the Board of Trustees. (F) Tri-Party Repurchase Agreement - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) International Fixed Income Fund June 30, 2006 (G) Step Bonds -- The rate reflected on the Schedule of Investments is the effective yield on June 30, 2006. The coupon on a step bond changes on a specified date. AUD -- Australian Dollar CAD -- Canadian Dollar CDO -- Collateralized Debt Obligation CHF -- Swiss Franc Cl -- Class CPI -- Consumer Price Index DKK -- Danish Krone EUR -- Euro EXL -- Extendable Maturity FHLMC -- Federal Home Loan Mortgage Corporation GBP -- British Pound Sterling ISK -- Iceland Koruna JPY -- Japanese Yen KRW -- South Korean Won LLC -- Limited Liability Company MTN -- Medium Term Note MXP -- Mexican Peso NIM -- Net Interest Margin NOK -- Norwegian Krone NZD -- New Zealand Dollar PLZ -- Polish Zloty SEK -- Swedish Krona Ser -- Series SGD -- Singapore Dollar SLMA -- Student Loan Marketing Association USD -- U.S. Dollar ZAR -- South African Rand + At June 30, 2006, the tax basis cost of the Fund's investments was $825,716 ($ Thousands), and the unrealized appreciation and depreciation were $22,816 ($ Thousands) and $(7,054) ($ Thousands), respectively. For information regarding the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual and annual financial statements. - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) Emerging Markets Debt Fund June 30, 2006 - -------------------------------------------------------------------------------- Face Amount Market Value Description ($ Thousands)(1) ($ Thousands) - -------------------------------------------------------------------------------- GLOBAL BONDS -- 77.1% ARGENTINA -- 7.2% Republic of Argentina 7.820%, 12/31/33 659 $ 704 3.970%, 12/31/33 13,183 11,746 Republic of Argentina (B) 4.889%, 08/03/12 16,694 13,806 0.000%, 12/15/35 19,635 1,730 Republic of Argentina (B) 0.000%, 12/15/35 ARS 24,735 630 Republic of Argentina (B) 0.000%, 12/15/35 EUR 3,700 398 Republic of Argentina (H) 8.280%, 12/31/33 753 671 1.330%, 12/31/38 22,810 8,269 Republic of Argentina (I) 7.625%, 03/31/05 1,120 291 7.625%, 08/11/07 2,325,000 440 7.000%, 03/18/04 1,475,000 283 Republic of Argentina (I) 12.000%, 09/19/16 EUR 1,000 185 11.750%, 05/20/11 EUR 10,000 1,896 10.500%, 11/14/49 EUR 1,000 178 9.000%, 05/29/09 EUR 3,125 1,098 8.500%, 07/01/04 EUR 775 273 8.125%, 04/21/08 EUR 4,200 1,423 8.000%, 02/25/02 EUR 5,000 1,886 8.000%, 02/26/08 EUR 1,000 374 0.000%, 08/15/06 EUR 12,000 46 0.000%, 09/27/06 EUR 12,000 46 0.000%, 07/06/10 EUR 1,000 355 Republic of Argentina 9.000%, 06/20/49 EUR 2,650 903 Republic of Argentina MTN, Ser E (I) 10.000%, 01/03/07 EUR 3,000,000 583 9.250%, 07/20/04 EUR 7,475 2,607 9.000%, 05/24/49 EUR 1,400 501 8.750%, 02/04/49 EUR 1,375 483 8.500%, 07/30/10 EUR 2,000 707 Republic of Argentina MTN, Ser E (I) 7.625%, 08/11/07 ITL 2,255,000 421 ------------- 52,933 ------------- BRAZIL -- 11.8% Federal Republic of Brazil 10.500%, 07/14/14 3,400 4,094 10.125%, 05/15/27 4,605 5,722 8.875%, 10/14/19 14,320 15,952 8.875%, 04/15/24 3,700 4,107 8.750%, 02/04/25 10,385 11,398 7.125%, 01/20/37 4,380 4,150 Federal Republic of Brazil (C) 11.000%, 08/17/40 25,897 32,112 8.000%, 01/15/18 4,481 4,727 7.875%, 03/07/15 2,990 3,131 Federal Republic of Brazil 12.500%, 01/05/16 BRL 1,750 792 ------------- 86,185 ------------- - -------------------------------------------------------------------------------- Face Amount Market Value Description ($ Thousands)(1) ($ Thousands) - -------------------------------------------------------------------------------- CAYMAN ISLANDS -- 1.0% Vale Overseas 6.250%, 01/11/16 7,425 $ 7,072 ------------- CHILE -- 0.6% Codelco 5.500%, 10/15/13 1,875 1,810 Republic of Chile 7.125%, 01/11/12 1,170 1,228 5.500%, 01/15/13 1,525 1,491 ------------- 4,529 ------------- CHINA -- 0.3% People's Republic of China 4.750%, 10/29/13 2,175 2,054 ------------- COLOMBIA -- 5.2% Republic of Colombia 10.750%, 01/15/13 795 936 Republic of Colombia (C) 11.750%, 02/25/20 14,870 19,554 10.375%, 01/28/33 4,930 6,076 8.125%, 05/21/24 5,425 5,493 Republic of Colombia 11.750%, 03/01/10 COP 7,627,000 3,089 Republic of Columbia 12.000%, 10/22/15 COP 6,880,000 2,975 ------------- 38,123 ------------- ECUADOR -- 2.5% Republic of Ecuador Registered (H) 9.000%, 08/15/30 18,980 18,184 ------------- EL SALVADOR -- 2.1% Republic of El Salvador 8.250%, 04/10/32 4,245 4,404 7.750%, 01/24/23 4,810 5,050 7.650%, 06/15/35 6,355 6,133 ------------- 15,587 ------------- INDONESIA -- 1.9% Garuda Indonesia (B) (J) 5.999%, 12/31/07 1,200 984 Republic of Indonesia 8.500%, 10/12/35 1,425 1,533 8.500%, 10/12/35 3,150 3,327 6.750%, 03/10/14 1,895 1,876 Republic of Indonesia (A) 8.500%, 10/12/35 3,425 3,673 7.500%, 01/15/16 1,370 1,394 7.250%, 04/20/15 1,030 1,025 ------------- 13,812 ------------- LUXEMBOURG -- 0.3% Gaz Capital for Gazprom Registered 8.625%, 04/28/34 1,890 2,172 ------------- MALAYSIA -- 1.0% Government of Malaysia 7.500%, 07/15/11 3,910 4,164 Petronas Capital 7.875%, 05/22/22 2,825 3,236 ------------- 7,400 ------------- - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) Emerging Markets Debt Fund June 30, 2006 - -------------------------------------------------------------------------------- Face Amount Market Value Description ($ Thousands)(1) ($ Thousands) - -------------------------------------------------------------------------------- MEXICO -- 5.4% Cornhill, Ser 39 (I) (J) 0.000%, 01/30/00 1,650 $ 561 Cornhill, Ser 46 (I) (J) 8.626%, 03/02/00 150 51 Pemex Project Funding Master Trust (A) 9.500%, 09/15/27 5,550 6,660 Telefonos de Mexico 8.750%, 01/31/16 MXP 29,000 2,379 United Mexican States 11.375%, 09/15/16 1,050 1,431 0.000%, 11/22/06 2,200 492 United Mexican States (C) 8.125%, 12/30/19 7,425 8,390 5.625%, 01/15/17 11,446 10,645 United Mexican States MTN 8.300%, 08/15/31 4,255 4,914 8.000%, 09/24/22 3,875 4,321 ------------- 39,844 ------------- NETHERLANDS -- 0.1% Kazkommerts International (A) 7.875%, 04/07/14 735 722 ------------- NIGERIA -- 0.1% TuranAlem Finance (A) 7.875%, 06/02/10 1,070 1,076 ------------- PANAMA -- 2.1% Republic of Panama 9.625%, 02/08/11 765 849 9.375%, 04/01/29 1,215 1,434 8.875%, 09/30/27 3,125 3,539 6.700%, 01/26/36 300 267 Republic of Panama (C) 7.250%, 03/15/15 5,275 5,328 Republic of Panama, Ser 20YR (B) 5.563%, 07/17/16 3,642 3,642 ------------- 15,059 ------------- PERU -- 2.6% Republic of Peru 9.875%, 02/06/15 710 831 8.750%, 11/21/33 1,815 2,019 Republic of Peru (C) 8.375%, 05/03/16 2,045 2,209 7.350%, 07/21/25 8,865 8,510 Republic of Peru FLIRB, Ser 20YR (B) 5.000%, 03/07/17 3,133 2,984 Republic of Peru, Ser 20YR (B) 5.000%, 03/07/17 2,626 2,534 ------------- 19,087 ------------- PHILIPPINES -- 6.4% Republic of Philippines 9.500%, 02/02/30 7,590 8,691 8.875%, 03/17/15 895 961 8.750%, 10/07/16 3,935 4,147 8.000%, 01/15/16 2,650 2,716 7.750%, 01/14/31 1,860 1,841 Republic of Philippines (C) 10.625%, 03/16/25 16,470 20,340 - -------------------------------------------------------------------------------- Face Amount Market Value Description ($ Thousands)(1) ($ Thousands) - -------------------------------------------------------------------------------- 9.375%, 01/18/17 6,715 $ 7,454 9.000%, 02/15/13 600 646 ------------- 46,796 ------------- POLAND -- 0.5% Government of Poland 5.250%, 01/15/14 4,025 3,880 ------------- RUSSIA -- 5.1% Russian Federation Registered 12.750%, 06/24/28 3,735 6,307 11.000%, 07/24/18 9,585 13,204 8.625%, 05/05/11 1,580 1,518 Russian Federation Registered (H) 5.000%, 03/31/30 15,120 16,092 ------------- 37,121 ------------- SOUTH AFRICA -- 1.5% Republic of South Africa 9.125%, 05/19/09 825 885 7.375%, 04/25/12 1,875 1,950 6.500%, 06/02/14 8,315 8,294 ------------- 11,129 ------------- THAILAND -- 0.9% Bangkok Land 4.500%, 10/13/03 11,643 6,287 ------------- TUNISIA -- 0.4% Banque Centrale de Tunisie 7.375%, 04/25/12 2,640 2,746 ------------- TURKEY -- 5.7% Republic of Turkey 11.875%, 01/15/30 10,500 14,346 11.500%, 01/23/12 3,925 4,484 11.000%, 01/14/13 1,895 2,160 7.375%, 02/05/25 6,005 5,344 6.875%, 03/17/36 7,450 6,184 Republic of Turkey (C) 7.000%, 06/05/20 10,465 9,340 ------------- 41,858 ------------- UKRAINE -- 1.0% Government of Ukraine (A) 6.875%, 03/04/11 4,475 4,363 Government of Ukraine Registered (C) 7.650%, 06/11/13 2,715 2,729 ------------- 7,092 ------------- URUGUAY -- 2.6% Republic of Uruguay 9.250%, 05/17/17 2,125 2,285 8.000%, 11/18/22 450 431 7.250%, 02/15/11 425 424 Republic of Uruguay (C) 7.500%, 03/15/15 12,766 12,287 Republic of Uruguay PIK 7.875%, 01/15/33 2,989 2,720 Republic of Uruguay 10.500%, 10/20/06 UYU 13,200 677 ------------- 18,824 ------------- - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) Emerging Markets Debt Fund June 30, 2006 - -------------------------------------------------------------------------------- Shares/Face Amount Market Value Description ($ Thousands) (1) ($ Thousands) - -------------------------------------------------------------------------------- VENEZUELA -- 8.8% Government of Venezuela 10.750%, 09/19/13 11,040 $ 13,171 9.375%, 01/13/34 1,800 2,110 9.250%, 09/15/27 27,535 32,491 5.750%, 02/26/16 4,375 3,872 Government of Venezuela (C) 8.500%, 10/08/14 5,733 6,063 Government of Venezuela Registered (B) 6.090%, 04/20/11 3,770 3,732 Government of Venezuela Registered (C) 5.375%, 08/07/10 2,825 2,670 ------------- 64,109 ------------- Total Global Bonds (Cost $543,495) ($ Thousands) 563,681 ------------- LOAN TO COUNTERPARTY AS COLLATERAL FOR SWAP CONTRACTS (G) -- 10.4% UNITED STATES -- 10.4% Loan to Central Bank of Nigeria as Collateral for Swap Contracts Outstanding 423,000 423 Loan to Citibank as Collateral for Swap Contracts Outstanding 648,000 648 Loan to Credit Suisse First Boston as Collateral for Swap Contracts Outstanding 2,000,000 2,000 Loan to Credit Suisse First Boston as Collateral for Swap Contracts Outstanding 4,350,000 4,350 Loan to Deutsche Bank as Collateral for Swap Contracts Outstanding 877,000 877 Loan to Federal Republic of Brazil as Collateral for Swap Contracts Outstanding 249,000 249 Loan to Gaz Capital for Gazprom Registered as Collateral for Swap Contracts Outstanding 8,550,000 8,550 Loan to JPMorgan Chase as Collateral for Swap Contracts Outstanding 438,000 438 Loan to JPMorgan Chase as Collateral for Swap Contracts Outstanding 7,812,000 7,812 Loan to JPMorgan Chase as Collateral for Swap Contracts Outstanding 2,798,000 2,798 Loan to Merrill Lynch as Collateral for Swap Contracts Outstanding 863,000 863 Loan to Russian Federation Registered as Collateral for Swap Contracts Outstanding 31,100,000 31,100 Loan to Russian Federation Registered as Collateral for Swap Contracts Outstanding 11,270,000 11,270 Loan to Standard Bank as Collateral for Swap Contracts Outstanding 2,406,000 2,406 Loan to Standard Bank as Collateral for Swap Contracts Outstanding 1,810,000 1,810 - -------------------------------------------------------------------------------- Shares/Face Amount Market Value Description ($ Thousands) (1) ($ Thousands) - -------------------------------------------------------------------------------- Loan to Standard Bank as Collateral for Swap Contracts Outstanding 201,000 $ 201 ------------- Total Loan to Counterparty as Collateral for Swap Contracts (Cost $75,795) ($ Thousands) 75,795 ------------- LOAN PARTICIPATIONS -- 5.8% ALGERIA -- 0.3% Republic of Algeria (Counterparty: Credit Suisse First Boston) (B) 4.813%, 03/04/10 2,379 2,331 ------------- BRAZIL -- 1.6% Global Village Telecom Loan (Counterparty: Deutsche Bank) (I) (J) 0.000%, 12/31/49 11,640 11,640 ------------- INDONESIA -- 1.2% Indonesia Standby Loan 94 (Counterparty: Deutsche Bank) (B) (J) 4.000%, 12/31/49 5,890 5,654 PKN Tranche Loan A (Counterparty: Citigroup Global Markets) (I) (J) 0.000%, 06/30/11 1,533 1,457 PKN Tranche Loan B (Counterparty: Citigroup Global Markets) (I) (J) 0.000%, 05/01/11 4,200 345 PKN Tranche Loan C Equity (I) (J) 0.000%, 12/31/49 25 -- PKN Tranche Loan D Secured Short Term, Ser 1 (Counterparty: Citibank) (I) (J) 4.000%, 08/11/06 442 440 PKN Tranche Loan D Secured Short Term, Ser 2 (Counterparty: Citibank) (I) (J) 4.000%, 08/11/06 805 801 ------------- 8,697 ------------- MEXICO -- 1.6% Altos Hornos, Promissory Note # 5 (I) (J) 0.000%, 04/29/99 2,500 1,650 Altos Hornos, Promissory Note # 6 (I) (J) 0.000%, 04/29/99 2,500 1,650 Altos Hornos, Promissory Note (Counterparty: Deutsche Bank) (I) (J) 0.000%, 12/31/49 4,500 2,970 Altos Hornos, Tranche A (Counterparty: Banc of America) (I) (J) 0.000%, 04/11/04 6,540 4,513 Grupo Accerco Del Norte (Counterparty: Deutsche Bank) (I) (J) 0.000%, 12/31/49 7,750 1,162 ------------- 11,945 ------------- - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) Emerging Markets Debt Fund June 30, 2006 - -------------------------------------------------------------------------------- Face Amount Market Value Description ($ Thousands)(1) ($ Thousands) - -------------------------------------------------------------------------------- MOROCCO -- 0.2% Kingdom of Morocco, Ser A (Counterparties: Credit Suisse First Boston, J.P. Morgan, Merrill Lynch) (B) 5.683%, 01/02/09 1,091 $ 1,080 ------------- NIGERIA -- 0.1% PPMC GTEE Note 4.500%, 09/22/06 476 476 0.000%, 12/17/06 490 490 ------------- 966 ------------- SINGAPORE -- 0.8% C2C Loan (Counterparty: Deutsche Bank) (E) (I) (J) 0.000%, 12/31/10 10,800 5,940 ------------- Total Loan Participations (Cost $27,667) ($ Thousands) 42,599 ------------- CORPORATE OBLIGATIONS(D) -- 5.5% UNITED STATES -- 5.5% Allstate Life Global Funding II MTN (A) (B) 5.219%, 07/16/07 575 575 American General Finance (A) (B) 5.229%, 07/16/07 1,814 1,814 American General Finance MTN, Ser F 3.963%, 07/14/06 125 128 Bear Stearns EXL (B) 5.239%, 07/16/07 2,227 2,227 Caterpillar Financial Services MTN, Ser F (B) 5.148%, 07/10/06 626 626 Countrywide Financial Services MTN, (B) 5.560%, 06/27/07 751 751 Countrywide Financial Services MTN, Ser A (B) 5.380%, 09/13/06 2,314 2,314 5.210%, 11/03/06 1,314 1,313 Dekabank (A) (B) 5.107%, 05/18/07 2,314 2,314 Glitnir Bank (A) (B) 5.180%, 04/06/07 1,877 1,877 Irish Life & Permanent MTN, Ser X (A) (B) 5.331%, 07/23/07 1,664 1,663 Islandsbanki (A) (B) 5.344%, 03/22/07 1,063 1,063 Jackson National Life Funding (A) (B) 5.109%, 06/04/07 2,752 2,752 Kaupthing Bank MTN (A) (B) 5.327%, 03/20/07 3,128 3,128 Landsbanki Islands (A) (B) 5.288%, 03/16/07 2,377 2,377 Morgan Stanley EXL (B) 5.189%, 08/06/07 438 438 Morgan Stanley EXL, Ser S (B) 5.153%, 08/06/07 625 625 - -------------------------------------------------------------------------------- Face Amount Market Value Description ($ Thousands)(1) ($ Thousands) - -------------------------------------------------------------------------------- Natexis Banques (A) (B) 5.191%, 07/16/07 1,220 $ 1,219 Nationwide Building Society (A) (B) 5.547%, 07/27/07 688 688 5.160%, 07/09/07 1,251 1,251 Nordbank (A) (B) 5.343%, 06/25/07 2,127 2,126 Northern Rock (A) (B) 5.139%, 08/03/07 1,289 1,289 Pacific Life Global Funding (A) (B) 5.196%, 07/13/07 938 938 Premium Asset Trust, Ser 2004-10 (A) (B) 5.209%, 07/16/07 1,751 1,751 SLM EXL, Ser S (A) (B) 5.199%, 07/16/07 1,376 1,376 Sigma Finance MTN (A) 4.680%, 11/09/06 676 676 Skandinav Enskilda Bank (A) (B) 5.247%, 06/18/07 1,376 1,376 Stanfield Victoria MTN (A) (B) 5.385%, 06/11/07 1,251 1,251 ------------- Total Corporate Obligations (Cost $39,926) ($ Thousands) 39,926 ------------- COMMERCIAL PAPER (D)(E) -- 1.7% UNITED STATES -- 1.7% Altius I Funding 5.333%, 07/05/06 500 500 Buckingham CDO 5.346%, 07/21/06 1,526 1,520 Buckingham CDO II 5.346%, 07/21/06 938 934 5.154%, 07/07/06 856 853 Elysian Funding LLC 5.216%, 08/04/06 2,189 2,170 5.132%, 07/10/06 1,251 1,240 KKR Pacific Funding 5.134%, 07/07/06 625 623 Lakeside Funding 5.170%, 07/10/06 725 725 Mica Funding 5.284%, 07/19/06 625 623 Ocala Funding 5.385%, 07/07/06 625 625 Rams Funding 5.369%, 07/25/06 171 170 5.325%, 07/20/06 1,304 1,298 Rhineland Funding 5.392%, 07/28/06 1,251 1,245 ------------- Total Commercial Paper (Cost $12,526) ($ Thousands) 12,526 ------------- ASSET-BACKED SECURITIES (A)(B)(D)-- 0.8% UNITED STATES -- 0.8% Cheyne High Grade, Ser 2004-1A, Cl AM1 5.180%, 11/10/06 626 626 Commodore, Ser 2003-2A, Cl A1MM 5.380%, 12/12/38 576 576 - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) Emerging Markets Debt Fund June 30, 2006 - -------------------------------------------------------------------------------- Face Amount ($ Thousands)(1)/ Market Value Description Warrants ($ Thousands) - -------------------------------------------------------------------------------- Duke Funding, Ser 2004-6B, Cl A1S1 5.093%, 04/09/07 938 $ 938 Newcastle CDO Limited, Ser 2005- 6A, Cl IM1 5.384%, 04/24/07 250 250 Park Place Securities NIM Trust, Ser 2004-MM1, Cl AM6 5.353%, 11/27/06 704 704 RMAC, Ser 2004-NS3A, Cl A1 5.170%, 09/12/06 116 116 Saturn Ventures II 5.190%, 08/07/06 1,167 1,167 TIAA Real Estate, Ser 2003-1A, Cl A1 5.371%, 03/28/07 781 781 Whitehawk CDO Funding, Ser 2004-1A, Cl AMME 5.349%, 09/15/06 188 188 Witherspoon CDO Funding 5.209%, 09/15/06 876 876 ------------- Total Asset-Backed Securities (Cost $6,222) ($ Thousands) 6,222 ------------- TIME DEPOSITS (D)--0.7% UNITED STATES -- 0.7% Societe Generale 5.313%, 07/03/06 3,836 3,836 Wells Fargo 5.188%, 07/03/06 1,251 1,251 ------------- Total Time Deposits (Cost $5,087) ($ Thousands) 5,087 ------------- MASTER NOTES -- 0.4% Bank of America (B) (D) 5.383%, 07/03/06 3,127 3,127 ------------- Total Master Notes (Cost $3,127) ($ Thousands) 3,127 ------------- CERTIFICATES OF DEPOSIT (D)-- 0.3% UNITED STATES -- 0.3% Barclays Bank 5.440%, 06/11/07 626 626 CC USA (A) 5.520%, 06/18/07 1,251 1,251 US Trust Company New York (B) 5.213%, 03/13/07 500 500 ------------- Total Certificates of Deposit (Cost $2,377) ($ Thousands) 2,377 ------------- WARRANTS -- 0.2% MEXICO -- 0.2% United Mexican States, Expires 09/01/06 * 9,000 576 United Mexican States, Expires 10/10/06 * 9,000 381 - -------------------------------------------------------------------------------- Face Amount ($ Thousands)(1) / Market Value Description Shares/Warrants ($ Thousands) - -------------------------------------------------------------------------------- United Mexican States, Expires 11/09/06 * 12,000 $ 325 ------------- 1,282 ------------- NIGERIA -- 0.0% Central Bank of Nigeria, Expires 11/15/20 * (K) 2,000 -- ------------- Total Warrants (Cost $866) ($ Thousands) 1,282 ------------- OIL-LINKED PAYMENT OBLIGATION -- 0.2% VENEZUELA -- 0.2% Government of Venezuela Par, Expires 04/15/20* 34 1,195 ------------- Total Oil-Linked Payment Obligation (Cost $0) ($ Thousands) 1,195 ------------- COMMON STOCK -- 0.0% THAILAND -- 0.0% TPI Polene Public * 298,000 99 ------------- Total Common Stock (Cost $109) ($ Thousands) 99 ------------- REPURCHASE AGREEMENTS (D)(F) -- 1.8% Barclays Capital 5.200%, dated 06/30/06, to be repurchased on 07/03/06, repurchase price $1,332,787 (collateralized by various U.S. Government Obligations, ranging in par value $1555,098- $1,212,628, 0.000%-2.750%, 10/15/06-04/03/07; with total market value $1,358,859) 1,332 1,332 Deutsche Bank 5.200%, dated 06/30/06, to be repurchased on 07/03/06, repurchase price $4,421,557 (collateralized by various U.S. Government Obligations, ranging in par value $78,913-$1,585,812, 0.000%-7.250%, 01/23/07- 01/15/10; with total market value $4,508,051) 4,420 4,420 Lehman Brothers 5.200%, dated 06/30/06, to be repurchased on 07/03/06, repurchase price $7,094,954 (collateralized by various U.S. Government Obligations, ranging in par value $433,032-$787,439, 2.625%-7.625%, 08/11/06- 10/27/25; with total market value $7,233,760) 7,092 7,092 ------------- - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 Total Repurchase Agreements (Cost $12,844) ($ Thousands) 12,844 ------------- Total Investments -- 104.9% (Cost $730,041) ($ Thousands)+ $ 766,760 ============= - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) Emerging Markets Debt Fund June 30, 2006 Forward Foreign Currency Contracts -- The following forward foreign currency contracts were outstanding at June 30, 2006: - -------------------------------------------------------------------------------- Unrealized Currency Currency Appreciation Settlement to Deliver to Receive (Depreciation) Date (Thousands) (Thousands) ($ Thousands) - -------------------------------------------------------------------------------- 7/5/06-8/2/06 BRL 48,508 USD 21,875 $ (537) 12/18/06 PLZ 6,456 USD 2,000 (40) 7/10/06-8/6/06 TRY 8,306 USD 5,306 107 7/5/06-8/2/06 USD 31,123 BRL 70,554 1,469 7/5/06 USD 2,285 COP 6,009,833 43 8/8/06 USD 900 NGN 118,503 23 12/18/06 USD 6,731 PLZ 21,362 19 9/5/06 USD 260 RON 764 12 8/16/06-1/29/07 USD 15,823 RUB 451,126 1,025 7/10/06 USD 6,249 TRY 9,860 (53) 7/25/06-8/21/06 USD 8,772 ZAR 55,607 (986) 7/25/06-8/21/06 ZAR 55,607 USD 8,321 536 -------------- $ 1,618 ============== - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) Emerging Markets Debt Fund June 30, 2006 Swaps -- The following swap agreements were outstanding at June 30, 2006:
- ------------------------------------------------------------------------------------------------------------------ Total Return Swaps - ------------------------------------------------------------------------------------------------------------------ Unrealized Notional Appreciation Expiration Amount (Depreciation) Description Date ($ Thousands) ($ Thousands) - ------------------------------------------------------------------------------------------------------------------ Fund receives payment at maturity on the Brazilian CDI Index times the notional amount. Fund receives payment if the return on the spread appreciates over the payment period and pays if the return on the spread depreciates over the payment period. (Counterparty: Deutsche Bank) 08/15/10 $ 1,400 $ (8) Fund receives payment at maturity on the Brazilian CDI Index times the notional amount. Fund receives payment if the return on the spread appreciates over the payment period and pays if the return on the spread depreciates over the payment period. (Counterparty: Merrill Lynch) 08/15/10 1,400 (10) Fund receives payment at maturity on the Brazilian CDI Index times the notional amount. Fund receives payment if the return on the spread appreciates over the return on the payment period and pays if the return on the spread depreciates over the payment period. (Counterparty: JPMorgan Chase) 05/15/11 4,214 (171) Fund receives payment at maturity on the Brazilian CDI Index times the notional amount. Fund receives payment if the return on the spread appreciates over the payment period and pays if the return on the spread depreciates over the payment period. (Counterparty: JPMorgan Chase) 08/15/10 12,000 (187) Fund receives payment at maturity on the Nigerian NGN Index times the notional amount. Fund receives payment if the return on the spread appreciates over the payment period and pays if the return on the spread depreciates over the payment period. (Counterparty: Citigroup) 02/07/07 143,103 50 Fund receives payment at maturity on the Nigerian NGN Index times the notional amount. Fund receives payment if the return on the spread appreciates over the payment period and pays if the return on the spread depreciates over the payment period. (Counterparty: Standard Charter Bank) 05/04/07 335,070 16 Fund receives payment at maturity on the Nigerian NGN Index times the notional amount. Fund receives payment if the return on the spread appreciates over the payment period and pays if the return on the spread depreciates over the payment period. (Counterparty: Standard Charter Bank) 02/21/09 55,618 4
- -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) Emerging Markets Debt Fund June 30, 2006
Total Return Swaps (continued) - ------------------------------------------------------------------------------------------------------------------- Unrealized Notional Appreciation Expiration Amount (Depreciation) Description Date ($ Thousands) ($ Thousands) - ------------------------------------------------------------------------------------------------------------------- Fund receives payment at maturity on the Nigerian NGN Index times the notional amount. Fund receives payment if the return on the spread appreciates over the payment period and pays if the return on the spread depreciates over the payment period. (Counterparty: Citigroup) 01/30/09 $ 127,354 $ 49 Fund receives payment at maturity on the Nigerian NGN Index times the notional amount. Fund receives payment if the return on the spread appreciates over the payment period and pays if the return on the spread depreciates over the payment period. (Counterparty: Citigroup) 05/08/07 251,470 5 Fund receives payment at maturity on the Nigerian NGN Index times the notional amount. Fund receives payment if the return on the spread appreciates over the payment period and pays if the return on the spread depreciates over the payment period. (Counterparty: Citigroup) 03/02/07 59,341 11 Fund receives payment at maturity on the Nigerian NGN Index times the notional amount. Fund receives payment if the return on the spread appreciates over the payment period and pays if the return on the spread depreciates over the payment period. (Counterparty: Standard Charter Bank) 05/15/07 28,424 5 Fund receives payment at maturity on the Nigerian NGN Index times the notional amount. Fund receives payment if the return on the spread appreciates over the payment period and pays if the return on the spread depreciates over the payment period. (Counterparty: Standard Charter Bank) 04/03/09 82,011 (8) Fund receives payment at maturity on the Nigerian NGN Index times the notional amount. Fund receives payment if the return on the spread appreciates over the payment period and pays if the return on the spread depreciates over the payment period. (Counterparty: Standard Charter Bank) 02/06/07 60,130 23 Fund receives payment at maturity on 16.75% of the Nigerian Treasury Bond NGN times the notional amount. Fund receives payment if the return on the spread appreciates over the payment period and pays if the return on the spread depreciates over the payment period. (Counterparty: Standard Charter Bank) 12/16/08 151,433 116 - ------------------------------------------------------------------------------------------------------------------- $ (105) ===================================================================================================================
- -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) Emerging Markets Debt Fund June 30, 2006
================================================================================================================== Credit Default Swaps - ------------------------------------------------------------------------------------------------------------------- Unrealized Notional Appreciation Expiration Amount (Depreciation) Description Date ($ Thousands) ($ Thousands) - ------------------------------------------------------------------------------------------------------------------- Fund receives payment on a termination date. Upon a defined credit event, Fund pays the notional amount and takes receipt of the defined deliverable obligation. (Counterparty: JPMorgan Chase) 10/20/15 $ 4,500 $ 299 Fund receives semi-annual payment of 0.800% (1.600% per annum) times the notional amount of JSC Gazprom, 8.625%, 04/28/34. Upon a defined credit event, Fund pays the notional amount and takes receipt of the defined deliverable obligation. (Counterparty: Credit Suisse First Boston) 01/20/16 8,550 (127) Fund receives semi-annual payment of 0.318% (0.635% per annum) times the notional amount of Russian Federation Registered, 5.000%, 03/31/30. Upon a defined credit event, Fund pays the notional amount and takes receipt of the defined deliverable obligation. (Counterparty: Credit Suisse First Boston) 03/20/16 11,270 (292) Fund receives semi-annual payment of 0.590% (1.180% per annum) times the notional amount of Russian Federation Registered, 4.107%, 04/15/10. Upon a defined credit event, Fund pays the notional amount and takes receipt of the defined deliverable obligation. (Counterparty: Credit Suisse First Boston) 04/15/10 2,000 34 Fund receives semi-annual payment of 0.445% (0.890% per annum) times the notional amount of Russian Federation Registered, 4.107%, 09/10/15. Upon a defined credit event, Fund pays the notional amount and takes receipt of the defined deliverable obligation. (Counterparty: Credit Suisse First Boston) 09/20/15 4,350 (29) Fund receives semi-annual payment of 0.355% (0.710% per annum) times the notional amount of Russian Federation Registered, 5.000%, 03/31/30. Upon a defined credit event, Fund pays the notional amount and takes receipt of the defined deliverable obligation. (Counterparty: Deutsche Bank) 01/20/16 31,100 58 - ------------------------------------------------------------------------------------------------------------------- $ (57) ===================================================================================================================
- -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) Emerging Markets Debt Fund June 30, 2006 Percentages are based on Net Assets of $730,710 ($ Thousands). * Non-Income Producing Security (1) In U.S. dollars unless otherwise indicated. (A) This security was sold within the terms of a private placement memorandum, exempt from registration under Section 3A-4, 4(2), or 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other "accredited investors." These securities have been determined to be liquid under guidelines established by the Board of Trustees. (B) Variable Rate Security -- The rate reported on the Schedule of Investments is the rate in effect as of June 30, 2006. (C) This security or a partial position of this security is on loan at June 30, 2006. The total value of securities on loan at June 30, 2006 was $78,047 ($ Thousands). (D) This security was purchased with cash collateral held from securities lending. The total value of such securities as of June 30, 2006 was $82,109 ($ Thousands). (E) The rate reported is the effective yield at time of purchase. (F) Tri-Party Repurchase Agreement (G) Cash on loan to swap counterparty as collateral for outstanding swap contracts. (H) Step Bonds -- The rate reflected on the Schedule of Investments is the effective yield on June 30, 2006. The coupon on a step bond changes on a specified date. (I) Security in default on interest payments. (J) Securities considered illiquid. The total value of such securities as of June 30, 2006 was $39,818 ($ Thousands) and represented 5.45% of the Fund's net assets. (K) Securities are fair valued at $0 and represents 0.00% of net assets. ARS -- Argentina Peso BRL -- Brazilian Real CDO -- Collateralized Debt Obligation COP -- Chilean Peso Cl -- Class EUR -- Euro EXL -- Extendable Maturity FLIRB -- Front Loaded Interest Reduction Bond ITL -- Italian Lira LLC -- Limited Liability Company MTN -- Medium Term Note MXP -- Mexican Peso NGN -- Nigerian Naira NIM -- Net Interest Margin NTN -- Nigerian Treasury Note PIK -- Payment-in-Kind PLZ -- Polish Zloty RON -- New Romanian Leu RUB -- Russian Ruble Ser -- Series TRY -- New Turkish Lira USD -- U.S. Dollar UYU -- Uruguay Peso - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 - -------------------------------------------------------------------------------- Schedule of Investments (Unaudited) Emerging Markets Debt Fund June 30, 2006 ZAR -- South African Rand + At June 30, 2006, the tax basis cost of the Fund's investments was $730,041 ($ Thousands), and the unrealized appreciation and depreciation were $48,661 ($ Thousands) and $(11,942), respectively. For information regarding the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual and annual financial statements. Amounts designated as "-" are either $0 or have been rounded to $0. - -------------------------------------------------------------------------------- SEI Institutional International Trust / Quarterly Report / June 30, 2006 ITEM 2. CONTROLS AND PROCEDURES (a) The certifying officers, whose certifications are included herewith, have evaluated the registrant's disclosure controls and procedures within 90 days of the filing date of this report. In their opinion, based on their evaluation, the registrant's disclosure controls and procedures are adequately designed, and are operating effectively to ensure, that information required to be disclosed by the registrant in the reports it files or submits under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms. (b) There were no significant changes in the registrant's internal control over financial reporting that occurred during the registrant's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting. ITEM 3. EXHIBITS. (a) A separate certification for the principal executive officer and the principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended (17 CFR 270.30a-2(a)), are filed herewith. - -------------------------------------------------------------------------------- SIGNATURES Pursuant to the requirements of the securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. (Registrant) SEI Institutional International Trust By (Signature and Title)* /s/ Robert A. Nesher ----------------------------------------- Robert A. Nesher, Chief Executive Officer Date: August 28, 2006 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By (Signature and Title)* /s/ Robert A. Nesher ----------------------------------------- Robert A. Nesher, Chief Executive Officer Date: August 28, 2006 By (Signature and Title)* /s/ Stephen F. Panner ----------------------------------------- Stephen F. Panner, Controller & CFO Date: August 28, 2006 * Print the name and title of each signing officer under his or her signature. EX-99.CERT 2 siit302cert_rn.txt SIIT 302 CERT RN 6_06 CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 I, Robert A. Nesher, certify that: 1. I have reviewed this report on Form N-Q of SEI Institutional International Trust; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b) Designed such internal controls over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a) All significant deficiencies and material weaknesses in the design or operation of internal controls which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: August 28, 2006 /s/ Robert A. Nesher - ------------------------ Robert A. Nesher Chief Executive Officer EX-99.CERT 3 seiinstintl302cert_sp.txt SIIT 302 CERT SP 6_06 CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 I, Stephen F. Panner, certify that: 1. I have reviewed this report on Form N-Q of SEI Institutional International Trust; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b) Designed such internal controls over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a) All significant deficiencies and material weaknesses in the design or operation of internal controls which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: August 28, 2006 /s/ Stephen F. Panner - ---------------------------- Stephen F. Panner Controller & CFO -----END PRIVACY-ENHANCED MESSAGE-----