-----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, So1CQvI0o+rZKjanbk7R0RowVZyvx0P3wTFO+YJaZnJPwgP+0thc5BNQ1lNnWddF +b1Sf0Y1FdeAwUyqJHi5Ig== 0000950129-06-003463.txt : 20060331 0000950129-06-003463.hdr.sgml : 20060331 20060331140950 ACCESSION NUMBER: 0000950129-06-003463 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060131 FILED AS OF DATE: 20060331 DATE AS OF CHANGE: 20060331 EFFECTIVENESS DATE: 20060331 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AIM INTERNATIONAL MUTUAL FUNDS CENTRAL INDEX KEY: 0000880859 IRS NUMBER: 760352823 STATE OF INCORPORATION: MD FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-06463 FILM NUMBER: 06727629 BUSINESS ADDRESS: STREET 1: 11 GREENWAY PLAZA STE 100 CITY: HOUSTON STATE: TX ZIP: 77046 BUSINESS PHONE: 7136261919 MAIL ADDRESS: STREET 1: AIM INTERNATIONAL FUNDS INC STREET 2: 11 GREENWAY PLAZA SUITE 100 CITY: HOUSTON STATE: TX ZIP: 77046 FORMER COMPANY: FORMER CONFORMED NAME: AIM INTERNATIONAL FUNDS INC /MD/ DATE OF NAME CHANGE: 20000620 FORMER COMPANY: FORMER CONFORMED NAME: AIM INTERNATIONAL MUTUAL FUNDS DATE OF NAME CHANGE: 20000323 FORMER COMPANY: FORMER CONFORMED NAME: AIM INTERNATIONAL FUNDS INC DATE OF NAME CHANGE: 19920909 0000880859 S000000226 AIM Asia Pacific Growth Fund C000000537 Class A ASIAX C000000538 Class B ASIBX C000000539 Class C ASICX 0000880859 S000000227 AIM European Growth Fund C000000540 Class A AEDAX C000000541 Class B AEDBX C000000542 Class C AEDCX C000000543 Class R AEDRX C000000544 Investor Class EGINX 0000880859 S000000228 AIM Global Aggressive Growth Fund C000000545 Class A AGAAX C000000546 Class B AGABX C000000547 Class C AGACX 0000880859 S000000229 AIM Global Growth Fund C000000548 Class A AGGAX C000000549 Class B AGGBX C000000550 Class C AGGCX 0000880859 S000000230 AIM International Growth Fund C000000551 Class A AIIEX C000000552 Class B AIEBX C000000553 Class C AIECX C000000554 Class R AIERX C000023043 Institutional Class AIEVX 0000880859 S000000231 AIM International Core Equity Fund C000000555 Class A IBVAX C000000556 Class B IBVBX C000000557 Class C IBVCX C000000558 Class R IIBRX C000000559 Investor Class IIBCX C000023044 Institutional Class IBVIX N-Q 1 h33603nvq.txt AIM INTERNATIONAL MUTUAL FUNDS - 1/31/2006 ------------------------- OMB APPROVAL ------------------------- OMB Number: 3235-0578 Expires: May 31, 2007 Estimated average burden hours per response: 21.09 ------------------------- 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 811-06463 AIM International Mutual Funds (Exact name of registrant as specified in charter) 11 Greenway Plaza, Suite 100 Houston, Texas 77046 (Address of principal executive offices) (Zip code) Robert H. Graham 11 Greenway Plaza, Suite 100 Houston, Texas 77046 (Name and address of agent for service) Registrant's telephone number, including area code: (713) 626-1919 Date of fiscal year end: 10/31 Date of reporting period: 01/31/06 Item 1. Schedule of Investments. AIM ASIA PACIFIC GROWTH FUND Quarterly Schedule of Portfolio Holdings o January 31, 2006 YOUR GOALS. OUR SOLUTIONS. [AIM INVESTMENTS LOGO APPEARS HERE] --Registered Trademark-- --Registered Trademark-- AIMinvestments.com APG-QTR-1 1/06 A I M Advisors, Inc. SCHEDULE OF INVESTMENTS January 31, 2006 (Unaudited)
SHARES VALUE - ------------------------------------------------------------------------------------------------------------------------ FOREIGN STOCKS & OTHER EQUITY INTERESTS--93.20% AUSTRALIA--10.11% BHP Billiton Ltd. (Diversified Metals & Mining) (a) 315,700 $ 6,224,504 - ------------------------------------------------------------------------------------------------------------------------ Brambles Industries Ltd. (Diversified Commercial & Professional Services) (a)(b) 452,000 3,392,144 - ------------------------------------------------------------------------------------------------------------------------ Commonwealth Bank of Australia (Diversified Banks) (a) 58,700 1,985,304 - ------------------------------------------------------------------------------------------------------------------------ Computershare Ltd. (Data Processing & Outsourced Services) (a)(b) 802,600 4,182,206 - ------------------------------------------------------------------------------------------------------------------------ CSL Ltd. (Biotechnology) (a) 155,100 5,103,050 - ------------------------------------------------------------------------------------------------------------------------ QBE Insurance Group Ltd. (Property & Casualty Insurance) (a)(b) 175,000 2,559,438 - ------------------------------------------------------------------------------------------------------------------------ Ramsay Health Care Ltd. (Health Care Facilities) (a)(b) 338,700 2,481,351 - ------------------------------------------------------------------------------------------------------------------------ St. George Bank Ltd. (Diversified Banks) (a) 47,100 1,080,237 - ------------------------------------------------------------------------------------------------------------------------ Toll Holdings Ltd. (Trucking) (a) 156,300 1,341,762 - ------------------------------------------------------------------------------------------------------------------------ Woolworths Ltd. (Food Retail) (a) 154,000 2,011,016 ======================================================================================================================== 30,361,012 ======================================================================================================================== CHINA--9.77% China Mengniu Dairy Co. Ltd. (Packaged Foods & Meats) (a) 2,876,000 3,079,011 - ------------------------------------------------------------------------------------------------------------------------ China Petroleum and Chemical Corp. (Sinopec-Class H (Integrated Oil & Gas) (a) 5,074,000 3,118,644 - ------------------------------------------------------------------------------------------------------------------------ FU JI Food & Catering Services (Restaurants) (a) 1,339,000 2,832,933 - ------------------------------------------------------------------------------------------------------------------------ Geely Automobile Holdings Ltd. (Automobile Manufacturers) 13,435,000 1,073,726 - ------------------------------------------------------------------------------------------------------------------------ NetEase.com Inc.-ADR (Internet Software & Services) (c) 31,100 2,220,540 - ------------------------------------------------------------------------------------------------------------------------ Norstar Founders Group Ltd. (Auto Parts & Equipment) (a) 6,596,000 2,455,896 - ------------------------------------------------------------------------------------------------------------------------ Ping An Insurance (Group) Co. of China, Ltd.-Class 2,172,000 4,801,624 H (Life & Health Insurance) - ------------------------------------------------------------------------------------------------------------------------ Shanghai Electric Group Co. Ltd.-Class H (Heavy Electrical Equipment) (Acquired 04/22/05; Cost $1,654,441) (c)(d) 7,514,000 2,978,383 - ------------------------------------------------------------------------------------------------------------------------ Weiqiao Textile Co. Ltd.-Class H (Textiles) (a) 1,144,000 1,761,393 - ------------------------------------------------------------------------------------------------------------------------ Wumart Stores, Inc.-Class H (Hypermarkets & Super Centers) (a) 812,000 1,790,438 - ------------------------------------------------------------------------------------------------------------------------ Xiamen International Port Co. Ltd.-Class H (Marine (c) 3,430,000 853,327 Ports & Services) - ------------------------------------------------------------------------------------------------------------------------ Xiamen International Port Co. Ltd.-Class H (Marine Ports & Services) (Acquired 12/13/05; Cost $251,686) (c)(d) 1,400,000 348,297 - ------------------------------------------------------------------------------------------------------------------------ Xinyi Glass Holding Co. Ltd. (Auto Parts & Equipment) (a) 4,048,000 1,125,572 - ------------------------------------------------------------------------------------------------------------------------ Yantai North Andre Juice Co. Ltd.-Class H (Packaged Foods & Meats) (a) 11,595,000 899,075 ======================================================================================================================== 29,338,859 ========================================================================================================================
APG-QTR-1 F-1
SHARES VALUE - ------------------------------------------------------------------------------------------------------------------------- HONG KONG--19.60% AAC Acoustic Technology Holdings Inc. (Communications Equipment) (a)(c) 1,983,400 $ 1,507,107 - ------------------------------------------------------------------------------------------------------------------------- ASM Pacific Technology Ltd. (Semiconductor Equipment) (a) 207,000 1,177,014 - ------------------------------------------------------------------------------------------------------------------------- Cheung Kong (Holdings) Ltd. (Real Estate Management & Development) (a) 433,000 4,650,134 - ------------------------------------------------------------------------------------------------------------------------- China Construction Bank-Class H (Diversified Banks) (c) 7,405,000 2,911,315 - ------------------------------------------------------------------------------------------------------------------------- China Yurun Food Group Ltd. (Packaged Foods & Meats) (c) 1,245,000 922,786 - ------------------------------------------------------------------------------------------------------------------------- China Yurun Food Group Ltd. (Packaged Foods & Meats) (Acquired 09/23/05; Cost $1,047,054) (c)(d) 2,174,181 1,611,491 - ------------------------------------------------------------------------------------------------------------------------- CNOOC Ltd.-ADR (Oil & Gas Exploration & Production) (b) 16,100 1,386,049 - ------------------------------------------------------------------------------------------------------------------------- COFCO International Ltd. (Packaged Foods & Meats) (a) 3,357,000 1,732,091 - ------------------------------------------------------------------------------------------------------------------------- Dickson Concepts (International) Ltd. (Apparel Retail) (a) 1,231,000 1,935,038 - ------------------------------------------------------------------------------------------------------------------------- Esprit Holdings Ltd. (Apparel Retail) (a) 782,000 6,805,426 - ------------------------------------------------------------------------------------------------------------------------- Hengan International Group Ltd. (Personal Products) 2,570,000 3,064,355 - ------------------------------------------------------------------------------------------------------------------------- Hopewell Holdings Ltd. (Highways & Railtracks) (a) 321,000 809,091 - ------------------------------------------------------------------------------------------------------------------------- Hutchison Whampoa Ltd. (Industrial Conglomerates) (a) 377,000 3,854,621 - ------------------------------------------------------------------------------------------------------------------------- Lee & Man Paper Manufacturing Ltd. (Paper Products) (a) 1,688,000 1,950,137 - ------------------------------------------------------------------------------------------------------------------------- Li & Fung Ltd. (Distributors) 902,000 1,674,300 - ------------------------------------------------------------------------------------------------------------------------- Link REIT (The) (Real Estate) (c) 538,000 1,040,250 - ------------------------------------------------------------------------------------------------------------------------- Luen Thai Holdings Ltd. (Apparel, Accessories & Luxury Goods) 2,822,000 954,884 - ------------------------------------------------------------------------------------------------------------------------- Paliburg Holdings Ltd. (Hotels, Resorts & Cruise Lines) (a)(c) 37,586,000 950,369 - ------------------------------------------------------------------------------------------------------------------------- Parkson Retail Group Ltd. (Department Stores) (c) 741,000 1,891,244 - ------------------------------------------------------------------------------------------------------------------------- Parkson Retail Group Ltd. (Department Stores) (Acquired 11/23/05; Cost $209,378) (c)(d) 164,000 418,575 - ------------------------------------------------------------------------------------------------------------------------- Regal Hotels International Holdings Ltd. (Hotels, Resorts & Cruise Lines) 39,024,000 3,068,498 - ------------------------------------------------------------------------------------------------------------------------- Solomon Systech International Ltd. (Semiconductors) (a) 7,696,000 3,599,533 - ------------------------------------------------------------------------------------------------------------------------- Sun Hung Kai Properties Ltd. (Real Estate Management & Development) 327,000 3,386,865 - ------------------------------------------------------------------------------------------------------------------------- Techtronic Industries Co. Ltd. (Household Appliances) (e)(f) 1,069,500 2,054,146 - ------------------------------------------------------------------------------------------------------------------------- Top Form International Ltd. (Apparel, Accessories & Luxury Goods) (a) 4,094,000 1,015,790 - ------------------------------------------------------------------------------------------------------------------------- Vision Grande Group Holdings Ltd. (Paper Packaging) (a) 2,658,000 1,663,847 - ------------------------------------------------------------------------------------------------------------------------- Wing Hang Bank Ltd. (Diversified Banks) (a) 391,000 2,832,035 ========================================================================================================================= 58,866,991 ========================================================================================================================= INDIA--9.44% Aztec Software and Technology Services Ltd. (IT Consulting & Other Services) (a) 480,000 2,092,492 - ------------------------------------------------------------------------------------------------------------------------- Bharat Forge Ltd. (Auto Parts & Equipment) (a) 372,125 3,249,891 - ------------------------------------------------------------------------------------------------------------------------- Dr. Reddy's Laboratories Ltd.-ADR (Pharmaceuticals) 59,000 1,510,400 - ------------------------------------------------------------------------------------------------------------------------- HDFC Bank Ltd. (Diversified Banks) 213,000 3,680,495 - ------------------------------------------------------------------------------------------------------------------------- HDFC Bank Ltd.-ADR (Diversified Banks) 17,500 1,040,200 - ------------------------------------------------------------------------------------------------------------------------- Hotel Leelaventure Ltd. (Hotels, Resorts & Cruise Lines) (a) 250,000 1,847,448 - ------------------------------------------------------------------------------------------------------------------------- Housing Development Finance Corp. Ltd. (Thrifts & Mortgage Finance) (a) 99,300 3,013,758 - ------------------------------------------------------------------------------------------------------------------------- Infosys Technologies Ltd. (IT Consulting & Other Services) 79,528 5,190,182 - -------------------------------------------------------------------------------------------------------------------------
APG-QTR-1 F-2
SHARES VALUE - ------------------------------------------------------------------------------------------------------------------------- INDIA-(CONTINUED) Maruti Udyog Ltd. (Automobile Manufacturers) (a) 203,000 $ 3,482,987 - ------------------------------------------------------------------------------------------------------------------------- Tata Motors Ltd. (Construction & Farm Machinery & Heavy Trucks) (a) 131,000 2,104,378 - ------------------------------------------------------------------------------------------------------------------------- Wockhardt Ltd. (Pharmaceuticals) (a) 106,000 1,160,872 ========================================================================================================================= 28,373,103 ========================================================================================================================= INDONESIA--2.10% PT Astra International Tbk (Automobile Manufacturers) (a) 1,335,000 1,483,478 - ------------------------------------------------------------------------------------------------------------------------- PT Telekomunikasi Indonesia Tbk-Series B (Integrated Telecommunication Services) (a) 5,051,000 3,440,392 - ------------------------------------------------------------------------------------------------------------------------- PT United Tractors Tbk (Construction & Farm Machinery & Heavy Trucks) (a) 3,358,000 1,371,970 ========================================================================================================================= 6,295,840 ========================================================================================================================= ITALY--0.00% 3 Italia S.p.A.-Rts. (Wireless Telecommunication Services) (e)(f)(g) 377 0 ========================================================================================================================= MALAYSIA--1.41% IOI Corp. Berhad (Agricultural Products) (e)(f) 361,000 1,212,798 - ------------------------------------------------------------------------------------------------------------------------- Public Bank Berhad (Diversified Banks) 598,000 1,068,284 - ------------------------------------------------------------------------------------------------------------------------- SP Setia Berhad (Real Estate Management & Development) 2,050,000 1,945,874 ========================================================================================================================= 4,226,956 ========================================================================================================================= PHILIPPINES--1.91% Philippine Long Distance Telephone Co. (Integrated Telecommunication Services) (a) 161,000 5,749,073 ========================================================================================================================= SINGAPORE--3.53% Citiraya Industries Ltd. (Environmental & Facilities Services) (c)(e)(f) 2,178,000 0 - ------------------------------------------------------------------------------------------------------------------------- DBS Group Holdings Ltd. (Diversified Banks) 360,000 3,639,739 - ------------------------------------------------------------------------------------------------------------------------- Ezra Holdings Pte Ltd. (Oil & Gas Equipment & (a) 1,092,000 1,292,708 Services) - ------------------------------------------------------------------------------------------------------------------------- Keppel Corp. Ltd. (Industrial Conglomerates) (a) 585,000 4,740,466 - ------------------------------------------------------------------------------------------------------------------------- United Overseas Bank Ltd. (Diversified Banks) (a) 103,000 924,265 ========================================================================================================================= 10,597,178 ========================================================================================================================= SOUTH KOREA--24.18% Charm E&T Co., Ltd. (Industrial Machinery) (a)(c) 287,000 1,617,370 - ------------------------------------------------------------------------------------------------------------------------- Cheil Communications Inc. (Advertising) 10,200 2,310,611 - ------------------------------------------------------------------------------------------------------------------------- CJ Corp. (Packaged Foods & Meats) (a) 24,030 3,111,007 - ------------------------------------------------------------------------------------------------------------------------- Core Logic Inc. (Semiconductors) (a)(c) 33,090 1,388,320 - ------------------------------------------------------------------------------------------------------------------------- Daegu Bank (Regional Banks) (a) 120,200 1,885,217 - ------------------------------------------------------------------------------------------------------------------------- Daekyo Co., Ltd. (Publishing) (a) 3,410 276,785 - ------------------------------------------------------------------------------------------------------------------------- Daesang Corp. (Packaged Foods & Meats) (a)(c) 138,000 2,079,446 - ------------------------------------------------------------------------------------------------------------------------- Daewoo Shipbuilding & Marine Engineering Co., Ltd. (Construction & Farm Machinery & Heavy Trucks) 68,000 1,674,356 - ------------------------------------------------------------------------------------------------------------------------- Emerging Memory & Logic Solutions Inc. (Semiconductors) (a) 93,500 1,501,643 - ------------------------------------------------------------------------------------------------------------------------- Gravity Co. Ltd.-ADR (Home Entertainment Software) 320,063 2,346,062 - ------------------------------------------------------------------------------------------------------------------------- Hana Financial Group Inc. (Diversified Banks) 89,667 4,397,127 - ------------------------------------------------------------------------------------------------------------------------- Hynix Semiconductor Inc. (Semiconductors) (a)(c) 41,000 1,574,606 - ------------------------------------------------------------------------------------------------------------------------- Hyundai Department Store Co., Ltd. (Department Stores) (a)(c) 74,400 8,369,169 - ------------------------------------------------------------------------------------------------------------------------- Hyundai Mipo Dockyard Co., Ltd. (Construction & 47,340 3,155,836 Farm Machinery & Heavy Trucks) - ------------------------------------------------------------------------------------------------------------------------- Hyundai Motor Co. (Automobile Manufacturers) (a) 46,030 4,156,912 - -------------------------------------------------------------------------------------------------------------------------
APG-QTR-1 F-3
SHARES VALUE - ------------------------------------------------------------------------------------------------------------------------- SOUTH KOREA-(CONTINUED) Joongang Construction Co., Ltd. (Construction & Engineering) (a)(c) 710 $20,444 - ------------------------------------------------------------------------------------------------------------------------- Kookmin Bank (Diversified Banks) (a) 53,330 4,249,574 - ------------------------------------------------------------------------------------------------------------------------- KT Freetel Co., Ltd. (Wireless Telecommunication (a) 62,200 1,517,569 Services) - ------------------------------------------------------------------------------------------------------------------------- Lotte Confectionery Co., Ltd. (Packaged Foods & (a)(c) 1,801 2,298,115 Meats) - ------------------------------------------------------------------------------------------------------------------------- Lotte Shopping Co., Ltd.-GDR (Distributors) (Acquired 01/27/06; Cost $2,025,660) (c)(d)(e)(f) 98,000 2,025,660 - ------------------------------------------------------------------------------------------------------------------------- NHN Corp. (Internet Software & Services) (a)(c) 11,100 3,248,435 - ------------------------------------------------------------------------------------------------------------------------- Samsung Electronics Co., Ltd. (Electric Equipment Manufacturers) (a) 10,150 7,757,647 - ------------------------------------------------------------------------------------------------------------------------- Shinsegae Co., Ltd. (Hypermarkets & Super Centers) (a) 4,100 2,160,970 - ------------------------------------------------------------------------------------------------------------------------- STX Shipbuilding Co., Ltd. (Construction & Farm Machinery & Heavy Trucks) (c) 105,130 1,831,096 - ------------------------------------------------------------------------------------------------------------------------- Taegu Department Store Co., Ltd. (Department Stores) (a) 60,500 1,284,984 - ------------------------------------------------------------------------------------------------------------------------- Techno Semichem Co., Ltd. (Commodity Chemicals) (a) 135,850 1,732,240 - ------------------------------------------------------------------------------------------------------------------------- Woongjin Coway Co., Ltd. (Housewares & Specialties) (a) 168,400 4,672,438 ========================================================================================================================= 72,643,639 ========================================================================================================================= TAIWAN--7.69% Asia Optical Co., Inc. (Photographic Products) (a) 241,922 1,568,315 - ------------------------------------------------------------------------------------------------------------------------- Catcher Technology Co., Ltd. (Computer Storage & Peripherals) (a) 575,819 4,320,753 - ------------------------------------------------------------------------------------------------------------------------- Hon Hai Precision Industry Co., Ltd. (Electronic Manufacturing Services) (a) 768,734 5,210,910 - ------------------------------------------------------------------------------------------------------------------------- Hotai Motor Co. Ltd. (Automobile Manufacturers) (a) 454,000 1,120,237 - ------------------------------------------------------------------------------------------------------------------------- MediaTek Inc. (Semiconductors) (a) 261,000 2,634,958 - ------------------------------------------------------------------------------------------------------------------------- Taiwan Semiconductor Manufacturing Co. Ltd. (a) 2,487,238 4,988,691 (Semiconductors) - ------------------------------------------------------------------------------------------------------------------------- Tripod Technology Corp. (Electronic Equipment Manufacturers) (a) 630,000 2,130,671 - ------------------------------------------------------------------------------------------------------------------------- Wistron Corp. (Computer Hardware) (a)(c) 848,000 1,139,501 ========================================================================================================================= 23,114,036 ========================================================================================================================= THAILAND--3.46% Kasikornbank PCL (Diversified Banks) 2,309,000 4,270,434 - ------------------------------------------------------------------------------------------------------------------------- Siam Commercial Bank PCL (Diversified Banks) (a) 2,903,000 4,427,653 - ------------------------------------------------------------------------------------------------------------------------- Thai Oil PCL (Oil & Gas Refining & Marketing) (a) 993,000 1,709,454 ========================================================================================================================= 10,407,541 ========================================================================================================================= Total Foreign Stocks & Other Equity Interests (Cost $178,916,768) 279,974,228 ========================================================================================================================= MONEY MARKET FUNDS--5.14% Liquid Assets Portfolio-Institutional Class (h) 7,713,829 7,713,829 - ------------------------------------------------------------------------------------------------------------------------- STIC Prime Portfolio-Institutional Class (h) 7,713,829 7,713,829 ========================================================================================================================= Total Money Market Funds (Cost $15,427,658) 15,427,658 ========================================================================================================================= TOTAL INVESTMENTS--98.34% (excluding investments purchased with cash collateral from securities loaned) (Cost $194,344,426) 295,401,886 =========================================================================================================================
APG-QTR-1 F-4
SHARES VALUE - ------------------------------------------------------------------------------------------------------------------------- INVESTMENTS PURCHASED WITH CASH COLLATERAL FROM SECURITIES LOANED MONEY MARKET FUNDS--1.87% Liquid Assets Portfolio-Institutional Class (h)(i) 2,803,314 $ 2,803,314 - ------------------------------------------------------------------------------------------------------------------------- STIC Prime Portfolio-Institutional Class (h)(i) 2,803,313 2,803,313 ========================================================================================================================= Total Money Market Funds (purchased with cash collateral from securities loaned) (Cost $5,606,627) 5,606,627 ========================================================================================================================= TOTAL INVESTMENTS--100.21% (Cost $199,951,053) 301,008,513 ========================================================================================================================= OTHER ASSETS LESS LIABILITIES--(0.21%) (617,676) ========================================================================================================================= NET ASSETS--100.00% $300,390,837 _________________________________________________________________________________________________________________________ =========================================================================================================================
Investment Abbreviations: ADR American Depositary Receipt GDR Global Depositary Receipt REIT Real Estate Investment Trust Rts. Rights Notes to Schedule of Investments: (a) In accordance with the procedures established by the Board of Trustees, the foreign security is fair valued using adjusted closing market prices. The aggregate value of these securities at January 31, 2006 was $202,014,419, which represented 67.25% of the Fund's Net Assets. See Note 1A. (b) All or a portion of this security has been pledged as collateral for securities lending transactions at January 31, 2006. (c) Non-income producing security. (d) Security not registered under the Securities Act of 1933, as amended (e.g., the security was purchased in a Rule 144A transaction or a Regulation D transaction). The security may be resold only pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The Fund has no rights to demand registration of these securities. The aggregate value of these securities at January 31, 2006 was $7,382,406, which represented 2.46% of the Fund's Net Assets. Unless otherwise indicated, these securities are not considered to be illiquid. (e) Security considered to be illiquid. The Fund is limited to investing 15% of net assets in illiquid securities at the time of purchase. The aggregate value of these securities considered illiquid at January 31, 2006 was $5,292,604, which represented 1.76% of the Fund's Net Assets. (f) Security fair valued in good faith in accordance with the procedures established by the Board of Trustees. The aggregate value of these securities at January 31, 2006 was $5,292,604, which represented 1.76% of the Fund's Net Assets. See Note 1A. (g) Non-income producing security acquired as part of a unit with or in exchange for other securities. (h) The money market fund and the Fund are affiliated by having the same investment advisor. See Note 2. (i) The security has been segregated to satisfy the forward commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned. See Note 3. See accompanying notes which are an integral part of this schedule. APG-QTR-1 F-5 NOTES TO QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS January 31, 2006 (Unaudited) NOTE 1 -- SIGNIFICANT ACCOUNTING POLICIES A. SECURITY VALUATIONS -- Securities, including restricted securities, are valued according to the following policy. A security listed or traded on an exchange (except convertible bonds) is valued at its last sales price as of the close of the customary trading session on the exchange where the security is principally traded, or lacking any sales on a particular day, the security is valued at the closing bid price on that day. Each security traded in the over-the-counter market (but not securities reported on the NASDAQ National Market System) is valued on the basis of prices furnished by independent pricing services, which may be considered fair valued, or market makers. Each security reported on the NASDAQ National Market System is valued at the NASDAQ Official Closing Price ("NOCP") as of the close of the customary trading session on the valuation date or absent a NOCP, at the closing bid price. Futures contracts are valued at the final settlement price set by an exchange on which they are principally traded. Listed options are valued at the mean between the last bid and the ask prices from the exchange on which they are principally traded. Options not listed on an exchange are valued by an independent source at the mean between the last bid and ask prices. For purposes of determining net asset value per share, futures and option contracts generally are valued 15 minutes after the close of the customary trading session of the New York Stock Exchange ("NYSE"). Investments in open-end registered investment companies and closed-end registered investment companies that do not trade on an exchange are valued at the end of day net asset value per share. Investments in closed-end registered investment companies that trade on an exchange are valued at the last sales price as of the close of the customary trading session on the exchange where the security is principally traded. Debt obligations (including convertible bonds) are fair valued using an evaluated quote provided by an independent pricing service. Evaluated quotes provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate, yield, quality, type of issue, coupon rate, maturity, individual trading characteristics and other market data. Short-term obligations having 60 days or less to maturity and commercial paper are recorded at amortized cost which approximates value. Securities for which market prices are not provided by any of the above methods are valued based upon quotes furnished by independent sources and are valued at the last bid price in the case of equity securities and in the case of debt obligations, the mean between the last bid and asked prices. Foreign securities (including foreign exchange contracts) are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the NYSE. Generally, trading in foreign securities is substantially completed each day at various times prior to the close of the NYSE. The values of such securities used in computing the net asset value of the Fund's shares are determined as of the close of the respective markets. Events affecting the values of such foreign securities may occur between the times at which the particular foreign market closes and the close of the customary trading session of the NYSE which would not ordinarily be reflected in the computation of the Fund's net asset value. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith using procedures approved by the Board of Trustees. Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities meeting the approved degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, ADRs and domestic and foreign index futures. APG-QTR-1 F-6 A. SECURITY VALUATIONS -- (CONTINUED) Securities for which market quotations are not readily available or are unreliable are valued at fair value as determined in good faith by or under the supervision of the Trust's officers following procedures approved by the Board of Trustees. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value. B. SECURITIES TRANSACTIONS AND INVESTMENT INCOME -- Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income is recorded on the accrual basis from settlement date. Dividend income is recorded on the ex-dividend date. Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the realized and unrealized net gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and Statement of Changes in Net Assets, or the net investment income per share and ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the advisor. The Fund allocates income and realized and unrealized capital gains and losses to a class based on the relative net assets of each class. C. COUNTRY DETERMINATION -- For the purposes of making investment selection decisions and presentation in the Schedule of Investments, AIM may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuer's securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be United States of America unless otherwise noted. D. FOREIGN CURRENCY TRANSLATIONS -- Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (i) sales of foreign currencies, (ii) currency gains or losses realized between the trade and settlement dates on securities transactions, and (iii) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates. APG-QTR-1 F-7 E. FOREIGN CURRENCY CONTRACTS -- A foreign currency contract is an obligation to purchase or sell a specific currency for an agreed-upon price at a future date. The Fund may enter into a foreign currency contract to attempt to minimize the risk to the Fund from adverse changes in the relationship between currencies. The Fund may also enter into a foreign currency contract for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security. The Fund could be exposed to risk if counterparties to the contracts are unable to meet the terms of their contracts or if the value of the foreign currency changes unfavorably. NOTE 2 -- INVESTMENTS IN AFFILIATES The Fund is permitted, pursuant to an exemptive order from the Securities and Exchange Commission, to invest daily available cash balances and cash collateral from securities lending transactions in affiliated money market funds. The Fund and the money market funds below have the same investment advisor and therefore, are considered to be affiliated. The tables below show the transactions in and earnings from investments in affiliated money market funds for the three months ended January 31, 2006.
INVESTMENTS OF DAILY AVAILABLE CASH BALANCES: CHANGE IN UNREALIZED REALIZED VALUE PURCHASES PROCEEDS FROM APPRECIATION VALUE DIVIDEND GAIN FUND 10/31/05 AT COST SALES (DEPRECIATION) 01/31/06 INCOME (LOSS) - ----------------------------------------------------------------------------------------------------------------------- Liquid Assets Portfolio- Institutional Class $ 6,845,216 $ 14,869,802 $ (14,001,189) $ -- $ 7,713,829 $ 77,435 $ -- - ----------------------------------------------------------------------------------------------------------------------- STIC Prime Portfolio- Institutional Class 6,845,216 14,869,802 (14,001,189) -- 7,713,829 77,771 -- ======================================================================================================================= SUBTOTAL $ 13,690,432 $ 29,739,604 $ (28,002,378) $ -- $ 15,427,658 $ 155,206 $ -- =======================================================================================================================
INVESTMENTS OF CASH COLLATERAL FROM SECURITIES LENDING TRANSACTIONS: CHANGE IN UNREALIZED REALIZED VALUE PURCHASES PROCEEDS FROM APPRECIATION VALUE DIVIDEND GAIN FUND 10/31/05 AT COST SALES (DEPRECIATION) 01/31/06 INCOME* (LOSS) - ----------------------------------------------------------------------------------------------------------------------- Liquid Assets Portfolio- Institutional Class $ 4,073,251 $ 4,374,200 $ (5,644,137) $ -- $ 2,803,314 $ 19,560 $ -- - ----------------------------------------------------------------------------------------------------------------------- STIC Prime Portfolio- Institutional Class 4,073,250 4,374,200 (5,644,137) -- 2,803,313 19,689 -- ======================================================================================================================= SUBTOTAL $ 8,146,501 $ 8,748,400 $ (11,288,274) $ -- $ 5,606,627 $ 39,249 $ -- ======================================================================================================================= TOTAL $ 21,836,933 $ 38,488,004 $ (39,290,652) $ -- $ 21,034,285 $ 194,455 $ -- =======================================================================================================================
* Net of compensation to counterparties. APG-QTR-1 F-8 NOTE 3 -- PORTFOLIO SECURITIES LOANED The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated money market funds. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. Lending securities entails a risk of loss to the Fund if and to the extent that the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower fails to return the securities. The Fund could also experience delays and costs in gaining access to the collateral. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to a loss on the collateral invested. At January 31, 2006, securities with an aggregate value of $5,405,873 were on loan to brokers. The loans were secured by cash collateral of $5,606,627 received by the Fund and subsequently invested in affiliated money market funds. For the three months ended January 31, 2006, the Fund received dividends on cash collateral investments of $39,249 for securities lending transactions, which are net of compensation to counterparties. NOTE 4 -- INVESTMENT SECURITIES The aggregate amount of investment securities (other than short-term securities and money market funds) purchased and sold by the Fund during the three months ended January 31, 2006 was $59,900,456 and $32,973,476, respectively. For interim reporting periods, the cost of investments for tax purposes includes reversals of certain tax items, such as, wash sales that have occurred since the prior fiscal year-end.
UNREALIZED APPRECIATION (DEPRECIATION) OF INVESTMENT SECURITIES ON A TAX BASIS - -------------------------------------------------------------------------------------------------- Aggregate unrealized appreciation of investment securities $ 104,391,401 - -------------------------------------------------------------------------------------------------- Aggregate unrealized (depreciation) of investment securities (3,835,514) - -------------------------------------------------------------------------------------------------- Net unrealized appreciation of investment securities $ 100,555,887 ================================================================================================== Cost of investments for tax purposes is $200,452,626.
APG-QTR-1 F-9 AIM EUROPEAN GROWTH FUND Quarterly Schedule of Portfolio Holdings o January 31, 2006 [YOUR GOALS. OUR SOLUTIONS.] [AIM INVESTMENTS LOGO APPEARS HERE] --Registered Trademark-- --Registered Trademark-- AIMinvestments.com EGR-QTR-1 1/06 A I M Advisors, Inc. SCHEDULE OF INVESTMENTS January 31, 2006 (Unaudited)
SHARES VALUE - --------------------------------------------------------------------------------------------------------------------------------- FOREIGN STOCKS & OTHER EQUITY INTERESTS--96.24% BELGIUM--3.74% Colruyt N.V. (Food Retail) (a) 68,300 $ 9,709,086 - --------------------------------------------------------------------------------------------------------------------------------- InBev N.V. (Brewers) (a) 296,000 13,952,738 - --------------------------------------------------------------------------------------------------------------------------------- KBC Groep N.V. (Diversified Banks) (a) 146,855 14,754,855 ================================================================================================================================= 38,416,679 ================================================================================================================================= DENMARK--0.94% DSV A.S. (Trucking) (a) 69,200 9,617,609 ================================================================================================================================= FRANCE--16.12% AXA (Multi-Line Insurance) (a) 264,300 8,962,706 - --------------------------------------------------------------------------------------------------------------------------------- BNP Paribas S.A. (Diversified Banks) 208,547 18,603,022 - --------------------------------------------------------------------------------------------------------------------------------- Eiffage S.A. (Construction & Engineering) 99,750 10,292,102 - --------------------------------------------------------------------------------------------------------------------------------- Eiffage S.A. (Construction & Engineering) (Acquired 03/04/04; Cost $2,591,265) (b) 57,000 5,881,202 - --------------------------------------------------------------------------------------------------------------------------------- Elior (Restaurants) (a) 734,300 11,419,158 - --------------------------------------------------------------------------------------------------------------------------------- Euler Hermes S.A. (Property & Casualty Insurance) (a) 63,700 6,657,863 - --------------------------------------------------------------------------------------------------------------------------------- Neopost S.A. (Office Electronics) (a) 104,800 10,541,633 - --------------------------------------------------------------------------------------------------------------------------------- Pernod Ricard S.A. (Distillers & Vintners) (a) 45,978 8,551,071 - --------------------------------------------------------------------------------------------------------------------------------- Sanofi-Aventis (Pharmaceuticals) (a) 118,800 10,889,306 - --------------------------------------------------------------------------------------------------------------------------------- Societe Generale (Diversified Banks) 67,790 8,955,270 - --------------------------------------------------------------------------------------------------------------------------------- Technip S.A. (Oil & Gas Equipment & Services) (a) 113,000 7,709,066 - --------------------------------------------------------------------------------------------------------------------------------- TOTAL S.A. (Integrated Oil & Gas) (a) 73,573 20,337,853 - --------------------------------------------------------------------------------------------------------------------------------- Veolia Environnement (Multi-Utilities) (a) 129,200 6,558,025 - --------------------------------------------------------------------------------------------------------------------------------- Vinci S.A. (Construction & Engineering) 197,700 18,392,271 - --------------------------------------------------------------------------------------------------------------------------------- Vivendi Universal S.A. (Movies & Entertainment) (a) 381,700 11,945,803 ================================================================================================================================= 165,696,351 ================================================================================================================================= GERMANY--9.91% Adidas-Salomon A.G. (Apparel, Accessories & Luxury Goods) (a) 40,400 8,455,625 - --------------------------------------------------------------------------------------------------------------------------------- Celesio A.G. (Health Care Distributors) 89,200 8,352,587 - --------------------------------------------------------------------------------------------------------------------------------- Continental A.G. (Tires & Rubber) 107,625 10,476,813 - --------------------------------------------------------------------------------------------------------------------------------- Deutsche Boerse A.G. (Specialized Finance) (a)(c) 92,500 11,701,234 - --------------------------------------------------------------------------------------------------------------------------------- Henkel KGaA-Pfd. (Household Products) (a) 96,900 10,855,798 - --------------------------------------------------------------------------------------------------------------------------------- MAN A.G. (Industrial Machinery) (a)(c) 149,900 8,613,372 - --------------------------------------------------------------------------------------------------------------------------------- Merck KGaA (Pharmaceuticals) (a) 94,700 9,881,517 - --------------------------------------------------------------------------------------------------------------------------------- Porsche A.G.-Pfd. (Automobile Manufacturers) (c)(d) 10,330 7,990,652 - --------------------------------------------------------------------------------------------------------------------------------- Puma A.G. Rudolf Dassler Sport (Footwear) (c) 80,839 25,562,994 ================================================================================================================================= 101,890,592 =================================================================================================================================
EGR-QTR-1 F-1
SHARES VALUE - --------------------------------------------------------------------------------------------------------------------------------- GREECE--5.71% EFG Eurobank Ergasias (Diversified Banks) 151,700 $ 5,641,447 - --------------------------------------------------------------------------------------------------------------------------------- Germanos S.A. (Computer & Electronics Retail) 579,800 12,161,930 - --------------------------------------------------------------------------------------------------------------------------------- OPAP S.A. (Casinos & Gaming) (a) 372,600 13,988,237 - --------------------------------------------------------------------------------------------------------------------------------- OPAP S.A. (Casinos & Gaming) (Acquired 07/14/03; Cost $1,109,094) (a)(b) 104,000 3,904,392 - --------------------------------------------------------------------------------------------------------------------------------- Piraeus Bank S.A. (Diversified Banks) (a) 378,700 9,043,767 - --------------------------------------------------------------------------------------------------------------------------------- Titan Cement Co. S.A. (Construction Materials) 317,300 13,959,252 ================================================================================================================================= 58,699,025 ================================================================================================================================= HUNGARY--2.28% MOL Magyar Olaj-es Gazipari Rt. (Integrated Oil & Gas) (a) 50,373 5,246,438 - --------------------------------------------------------------------------------------------------------------------------------- OTP Bank Rt. (Diversified Banks) 526,600 18,168,259 ================================================================================================================================= 23,414,697 ================================================================================================================================= IRELAND--5.46% Anglo Irish Bank Corp. PLC (Diversified Banks) 1,828,944 28,873,076 - --------------------------------------------------------------------------------------------------------------------------------- CRH PLC (Construction Materials) (a) 266,341 8,257,431 - --------------------------------------------------------------------------------------------------------------------------------- FBD Holdings PLC (Multi-Line Insurance) 126,600 5,523,466 - --------------------------------------------------------------------------------------------------------------------------------- IAWS Group PLC (Packaged Foods & Meats) (a) 373,500 6,015,126 - --------------------------------------------------------------------------------------------------------------------------------- Independent News & Media PLC (Publishing) (a) 2,289,800 7,454,688 ================================================================================================================================= 56,123,787 ================================================================================================================================= ITALY--4.07% Davide Campari-Milano S.p.A. (Distillers & Vintners) (a) 1,264,000 9,883,203 - --------------------------------------------------------------------------------------------------------------------------------- Eni S.p.A. (Integrated Oil & Gas) (a) 709,414 21,522,815 - --------------------------------------------------------------------------------------------------------------------------------- Lottomatica S.p.A. (Casinos & Gaming) (c)(d) 263,000 10,493,253 ================================================================================================================================= 41,899,271 ================================================================================================================================= NETHERLANDS--4.19% Aalberts Industries N.V. (Industrial Conglomerates) (a) 252,436 16,230,996 - --------------------------------------------------------------------------------------------------------------------------------- ING Groep N.V. (Other Diversified Financial Services) (a) 196,300 7,011,497 - --------------------------------------------------------------------------------------------------------------------------------- Koninklijke BAM Groep N.V. (Construction & Engineering) (a) 114,235 10,240,270 - --------------------------------------------------------------------------------------------------------------------------------- Nutreco Holding N.V. (Agricultural Products) (a) 177,617 9,639,444 ================================================================================================================================= 43,122,207 ================================================================================================================================= NORWAY--3.98% Petroleum Geo-Services A.S.A. (Oil & Gas Equipment & Services) (c) 331,410 11,906,528 - --------------------------------------------------------------------------------------------------------------------------------- Schibsted A.S.A. (Publishing) (a)(d) 241,700 7,090,632 - --------------------------------------------------------------------------------------------------------------------------------- TGS Nopec Geophysical Co. A.S.A. (Oil & Gas Equipment & Services) (a)(c) 209,000 10,901,658 - --------------------------------------------------------------------------------------------------------------------------------- Tomra Systems A.S.A. (Environmental & Facilities Services) (a)(d) 1,389,700 11,032,190 ================================================================================================================================= 40,931,008 =================================================================================================================================
EGR-QTR-1 F-2
SHARES VALUE - --------------------------------------------------------------------------------------------------------------------------------- RUSSIA--1.62% OAO LUKOIL-ADR (Integrated Oil & Gas) (a) 89,000 $ 6,821,150 - --------------------------------------------------------------------------------------------------------------------------------- Vimpel-Communications-ADR (Wireless Telecommunication Services) (c) 210,400 9,846,720 ================================================================================================================================= 16,667,870 ================================================================================================================================= SPAIN--5.50% Banco Santander Central Hispano S.A. (Diversified Banks) (a) 597,300 8,597,614 - --------------------------------------------------------------------------------------------------------------------------------- Corporacion Mapfre S.A. (Multi-Line Insurance) (a) 587,163 10,537,053 - --------------------------------------------------------------------------------------------------------------------------------- Enagas (Gas Utilities) (a) 287,360 5,448,280 - --------------------------------------------------------------------------------------------------------------------------------- Enagas (Gas Utilities) (Acquired 06/25/02; Cost $1,895,584) (a)(b) 300,400 5,695,515 - --------------------------------------------------------------------------------------------------------------------------------- Grupo Ferrovial, S.A. (Construction & Engineering) (a) 213,748 16,714,888 - --------------------------------------------------------------------------------------------------------------------------------- Industria de Diseno Textil, S.A. (Apparel Retail) (a) 278,750 9,578,779 ================================================================================================================================= 56,572,129 ================================================================================================================================= SWEDEN--2.92% Atlas Copco A.B.-Class A (Industrial Machinery) 252,600 5,938,011 - --------------------------------------------------------------------------------------------------------------------------------- Gambro A.B.-Class A (Health Care Services) (a) 382,100 4,480,269 - --------------------------------------------------------------------------------------------------------------------------------- PA Resources A.B. (Oil & Gas Exploration & Production) (c)(d) 942,800 5,697,276 - --------------------------------------------------------------------------------------------------------------------------------- Swedish Match A.B. (Tobacco) (a) 556,500 7,016,316 - --------------------------------------------------------------------------------------------------------------------------------- Volvo A.B.-Class B (Construction & Farm Machinery & Heavy Trucks) (a) 141,340 6,927,635 ================================================================================================================================= 30,059,507 ================================================================================================================================= SWITZERLAND--8.36% Compagnie Financiere Richemont A.G.-Class A (Apparel, Accessories & Luxury Goods) (a)(e) 357,230 16,243,751 - --------------------------------------------------------------------------------------------------------------------------------- Credit Suisse Group (Diversified Capital Markets) (a) 153,280 8,963,489 - --------------------------------------------------------------------------------------------------------------------------------- Nestle S.A. (Packaged Foods & Meats) (a) 26,800 7,865,951 - --------------------------------------------------------------------------------------------------------------------------------- Rieter Holding A.G. (Auto Parts & Equipment) (a) 15,700 5,170,049 - --------------------------------------------------------------------------------------------------------------------------------- Roche Holding A.G. (Pharmaceuticals) 108,450 17,137,526 - --------------------------------------------------------------------------------------------------------------------------------- Syngenta A.G. (Fertilizers & Agricultural Chemicals) (a)(c) 136,930 17,454,626 - --------------------------------------------------------------------------------------------------------------------------------- UBS A.G. (Diversified Capital Markets) 121,140 13,172,542 ================================================================================================================================= 86,007,934 ================================================================================================================================= TURKEY--2.10% Akbank T.A.S. (Diversified Banks) (a) 920,600 7,983,450 - --------------------------------------------------------------------------------------------------------------------------------- Tupras-Turkiye Petrol Rafinerileri A.S. (Oil & Gas Refining & Marketing) (a) 656,918 13,633,816 ================================================================================================================================= 21,617,266 =================================================================================================================================
EGR-QTR-1 F-3
SHARES VALUE - --------------------------------------------------------------------------------------------------------------------------------- UNITED KINGDOM--19.34% Aviva PLC (Multi-Line Insurance) 574,000 $ 7,357,770 - --------------------------------------------------------------------------------------------------------------------------------- Balfour Beatty PLC (Construction & Engineering) 1,766,700 11,488,162 - --------------------------------------------------------------------------------------------------------------------------------- British Energy Group PLC (Electric Utilities) (a)(c) 952,000 10,327,292 - --------------------------------------------------------------------------------------------------------------------------------- Bunzl PLC (Trading Companies & Distributors) (a) 887,988 9,981,279 - --------------------------------------------------------------------------------------------------------------------------------- Capita Group PLC (Human Resource & Employment Services) (a) 1,273,300 9,682,418 - --------------------------------------------------------------------------------------------------------------------------------- Enterprise Inns PLC (Restaurants) 1,258,580 20,689,651 - --------------------------------------------------------------------------------------------------------------------------------- Filtrona PLC (Commodity Chemicals) (a) 1,101,418 5,406,677 - --------------------------------------------------------------------------------------------------------------------------------- Homeserve PLC (Diversified Commercial & Professional Services) (a) 276,000 7,038,896 - --------------------------------------------------------------------------------------------------------------------------------- Imperial Tobacco Group PLC (Tobacco) (a) 587,580 17,488,424 - --------------------------------------------------------------------------------------------------------------------------------- Inchcape PLC (Distributors) (a) 228,530 9,642,793 - --------------------------------------------------------------------------------------------------------------------------------- Informa PLC (Publishing) 1,713,866 13,286,623 - --------------------------------------------------------------------------------------------------------------------------------- International Power PLC (Independent Power Producers & Energy Traders) (a) 2,078,000 10,031,641 - --------------------------------------------------------------------------------------------------------------------------------- NETeller PLC (Specialized Finance) (a)(c) 243,000 3,387,010 - --------------------------------------------------------------------------------------------------------------------------------- Punch Taverns PLC (Restaurants) 524,640 8,083,132 - --------------------------------------------------------------------------------------------------------------------------------- Reckitt Benckiser PLC (Household Products) (a) 257,245 8,454,157 - --------------------------------------------------------------------------------------------------------------------------------- Shire PLC (Pharmaceuticals) 1,105,300 17,747,114 - --------------------------------------------------------------------------------------------------------------------------------- Sportingbet PLC (Casinos & Gaming) 798,661 5,896,726 - --------------------------------------------------------------------------------------------------------------------------------- Tesco PLC (Food Retail) (a) 1,658,435 9,387,210 - --------------------------------------------------------------------------------------------------------------------------------- Ultra Electronics Holdings PLC (Aerospace & Defense) 547,110 9,636,298 - --------------------------------------------------------------------------------------------------------------------------------- Vodafone Group PLC (Wireless Telecommunication Services) (a) 1,821,546 3,825,521 ================================================================================================================================= 198,838,794 ================================================================================================================================= Total Foreign Stocks & Other Equity Interests (Cost $588,372,741) 989,574,726 ================================================================================================================================= MONEY MARKET FUNDS--2.84% Liquid Assets Portfolio-Institutional Class (f) 14,583,757 14,583,757 - --------------------------------------------------------------------------------------------------------------------------------- STIC Prime Portfolio-Institutional Class (f) 14,583,757 14,583,757 ================================================================================================================================= Total Money Market Funds (Cost $29,167,514) 29,167,514 ================================================================================================================================= TOTAL INVESTMENTS--99.08% (excluding investments purchased with cash collateral from securities loaned) (Cost $617,540,255) 1,018,742,240 _________________________________________________________________________________________________________________________________ =================================================================================================================================
EGR-QTR-1 F-4
SHARES VALUE - --------------------------------------------------------------------------------------------------------------------------------- INVESTMENTS PURCHASED WITH CASH COLLATERAL FROM SECURITIES LOANED MONEY MARKET FUNDS--2.24% Liquid Assets Portfolio-Institutional Class (f)(g) 23,017,799 $ 23,017,799 ================================================================================================================================= Total Money Market Funds (purchased with cash collateral from securities loaned) (Cost $23,017,799) 23,017,799 ================================================================================================================================= TOTAL INVESTMENTS--101.32% (Cost $640,558,054) 1,041,760,039 ================================================================================================================================= OTHER ASSETS LESS LIABILITIES--(1.32%) (13,581,174) ================================================================================================================================= NET ASSETS--100.00% $1,028,178,865 =================================================================================================================================
Investment Abbreviations: ADR American Depositary Receipt Pfd. Preferred Rts. Rights Notes to Schedule of Investments: (a) In accordance with the procedures established by the Board of Trustees, the foreign security is fair valued using adjusted closing market prices. The aggregate value of these securities at January 31, 2006 was $622,363,051, which represented 60.53% of the Fund's Net Assets. See Note 1A. (b) Security not registered under the Securities Act of 1933, as amended (e.g., the security was purchased in a Rule 144A transaction or a Regulation D transaction). The security may be resold only pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The Fund has no rights to demand registration of these securities. The aggregate value of these securities at January 31, 2006 was $15,481,109, which represented 1.51% of the Fund's Net Assets. Unless otherwise indicated, these securities are not considered illiquid. (c) Non-income producing security. (d) All or a portion of this security has been pledged as collateral for securities lending transactions at January 31, 2006. (e) Each unit represents one A bearer share in the company and one bearer share participation certificate in Richemont S.A. (f) The money market fund and the Fund are affiliated by having the same investment advisor. See Note 2. (g) The security has been segregated to satisfy the forward commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned. See Note 3. See accompanying notes which are an integral part of this schedule. EGR-QTR-1 F-5 NOTES TO QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS January 31, 2006 (Unaudited) NOTE 1 -- SIGNIFICANT ACCOUNTING POLICIES A. SECURITY VALUATIONS -- Securities, including restricted securities, are valued according to the following policy. A security listed or traded on an exchange (except convertible bonds) is valued at its last sales price as of the close of the customary trading session on the exchange where the security is principally traded, or lacking any sales on a particular day, the security is valued at the closing bid price on that day. Securities traded in the over-the-counter market (but not securities reported on the NASDAQ National Market System) are valued based on the prices furnished by independent pricing services, in which case the securities may be considered fair valued, or by market makers. Each security reported on the NASDAQ National Market System is valued at the NASDAQ Official Closing Price ("NOCP") as of the close of the customary trading session on the valuation date or absent a NOCP, at the closing bid price. Futures contracts are valued at the final settlement price set by an exchange on which they are principally traded. Listed options are valued at the mean between the last bid and the ask prices from the exchange on which they are principally traded. Options not listed on an exchange are valued by an independent source at the mean between the last bid and ask prices. For purposes of determining net asset value per share, futures and option contracts generally are valued 15 minutes after the close of the customary trading session of the New York Stock Exchange ("NYSE"). Investments in open-end registered investment companies and closed-end registered investment companies that do not trade on an exchange are valued at the end of day net asset value per share. Investments in closed-end registered investment companies that trade on an exchange are valued at the last sales price as of the close of the customary trading session on the exchange where the security is principally traded. Debt obligations (including convertible bonds) are fair valued using an evaluated quote provided by an independent pricing service. Evaluated quotes provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate, yield, quality, type of issue, coupon rate, maturity, individual trading characteristics and other market data. Short-term obligations having 60 days or less to maturity and commercial paper are recorded at amortized cost which approximates value. Securities for which market prices are not provided by any of the above methods are valued based upon quotes furnished by independent sources and are valued at the last bid price in the case of equity securities and in the case of debt obligations, the mean between the last bid and asked prices. Foreign securities (including foreign exchange contracts) are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the NYSE. Generally, trading in foreign securities is substantially completed each day at various times prior to the close of the NYSE. The values of such securities used in computing the net asset value of the Fund's shares are determined as of the close of the respective markets. Events affecting the values of such foreign securities may occur between the times at which the particular foreign market closes and the close of the customary trading session of the NYSE which would not ordinarily be reflected in the computation of the Fund's net asset value. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith using procedures approved by the Board of Trustees. Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities meeting the approved degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, ADRs and domestic and foreign index futures. EGR-QTR-1 F-6 A. SECURITY VALUATIONS -- (CONTINUED) Securities for which market quotations are not readily available or are unreliable are valued at fair value as determined in good faith by or under the supervision of the Trust's officers following procedures approved by the Board of Trustees. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value. B. SECURITIES TRANSACTIONS AND INVESTMENT INCOME -- Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income is recorded on the accrual basis from settlement date. Dividend income is recorded on the ex-dividend date. Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the realized and unrealized net gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and Statement of Changes in Net Assets, or the net investment income per share and ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the advisor. The Fund allocates income and realized and unrealized capital gains and losses to a class based on the relative net assets of each class. C. COUNTRY DETERMINATION -- For the purposes of making investment selection decisions and presentation in the Schedule of Investments, AIM may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuer's securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be United States of America unless otherwise noted. D. FOREIGN CURRENCY TRANSLATIONS -- Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (i) sales of foreign currencies, (ii) currency gains or losses realized between the trade and settlement dates on securities transactions, and (iii) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates. EGR-QTR-1 F-7 E. FOREIGN CURRENCY CONTRACTS -- A foreign currency contract is an obligation to purchase or sell a specific currency for an agreed-upon price at a future date. The Fund may enter into a foreign currency contract to attempt to minimize the risk to the Fund from adverse changes in the relationship between currencies. The Fund may also enter into a foreign currency contract for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security. The Fund could be exposed to risk if counterparties to the contracts are unable to meet the terms of their contracts or if the value of the foreign currency changes unfavorably. NOTE 2 -- INVESTMENTS IN AFFILIATES The Fund is permitted, pursuant to an exemptive order from the Securities and Exchange Commission to invest daily available cash balances and cash collateral from securities lending transactions in affiliated money market funds. The Fund and the money market funds below have the same investment advisor and therefore, are considered to be affiliated. The tables below show the transactions in and earnings from investments in affiliated money market funds for the three months ended January 31, 2006. INVESTMENTS OF DAILY AVAILABLE CASH BALANCES:
CHANGE IN UNREALIZED REALIZED VALUE PURCHASES PROCEEDS FROM APPRECIATION VALUE DIVIDEND GAIN FUND 10/31/05 AT COST SALES (DEPRECIATION) 01/31/06 INCOME (LOSS) - ------------------------------------------------------------------------------------------------------------------------ Liquid Assets Portfolio-Institutional Class $14,835,210 $23,927,013 $ (24,178,466) $ -- $14,583,757 $145,776 $ -- - ------------------------------------------------------------------------------------------------------------------------ STIC Prime Portfolio-Institutional Class 14,835,210 23,927,013 (24,178,466) -- 14,583,757 146,464 -- - ------------------------------------------------------------------------------------------------------------------------ SUBTOTAL $29,670,420 $47,854,026 $ (48,356,932) $ -- $29,167,514 $292,240 $ -- ========================================================================================================================
INVESTMENTS OF CASH COLLATERAL FROM SECURITIES LENDING TRANSACTIONS:
CHANGE IN UNREALIZED REALIZED VALUE PURCHASES PROCEEDS FROM APPRECIATION VALUE DIVIDEND GAIN FUND 10/31/05 AT COSTS SALES (DEPRECIATION) 01/31/06 INCOME* (LOSS) - ------------------------------------------------------------------------------------------------------------------------- Liquid Assets Portfolio-Institutional Class $34,397,412 $ 70,186,726 $ (81,566,339) $ -- $23,017,799 $ 59,180 $ -- - ------------------------------------------------------------------------------------------------------------------------- TOTAL $64,067,832 $118,040,752 $(129,923,271) $ -- $52,185,313 $351,420 $ -- =========================================================================================================================
* Net of compensation to counterparties. NOTE 3 -- PORTFOLIO SECURITIES LOANED The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated money market funds. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. Lending securities entails a risk of loss to the Fund if and to the extent that the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower fails to return the securities. The Fund could also EGR-QTR-1 F-8 NOTE 3 -- PORTFOLIO SECURITIES LOANED -- (CONTINUED) experience delays and costs in gaining access to the collateral. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to a loss on the collateral invested. At January 31, 2006, securities with an aggregate value of $21,782,184 were on loan to brokers. The loans were secured by cash collateral of $23,017,799 received by the Fund and subsequently invested in affiliated money market funds. For the three months ended January 31, 2006, the Fund received dividends on cash collateral investments of $59,180 for securities lending transactions, which are net of compensation to counterparties. NOTE 4 -- INVESTMENT SECURITIES The aggregate amount of investment securities (other than short-term securities and money market funds) purchased and sold by the Fund during the three months ended January 31, 2006 was $31,428,270 and $54,957,246, respectively. For interim reporting periods, the cost of investments for tax purposes includes reversals of certain tax items, such as, wash sales that have occurred since the prior fiscal year-end.
UNREALIZED APPRECIATION (DEPRECIATION) OF INVESTMENT SECURITIES ON A TAX BASIS - -------------------------------------------------------------------------------- Aggregate unrealized appreciation of investment securities $ 401,096,642 - -------------------------------------------------------------------------------- Aggregate unrealized (depreciation) of investment securities (16,156) ================================================================================ Net unrealized appreciation of investment securities $ 401,080,486 ================================================================================ Cost of investments for tax purposes is $640,679,553.
EGR-QTR-1 F-9 AIM GLOBAL AGGRESSIVE GROWTH FUND Quarterly Schedule of Portfolio Holdings o January 31, 2006 YOUR GOALS. OUR SOLUTIONS. [AIM INVESTMENTS LOGO APPEARS HERE] --Registered Trademark-- --Registered Trademark-- AIMinvestments.com GLA-QTR-1 1/06 A I M Advisors, Inc. SCHEDULE OF INVESTMENTS January 31, 2006 (Unaudited)
SHARES VALUE ---------- ----------- FOREIGN STOCKS & OTHER EQUITY INTERESTS--65.39% AUSTRALIA--1.48% Brambles Industries Ltd. (Diversified Commercial & Professional Services) (a)(b) 499,000 $ 3,744,867 Computershare Ltd. (Data Processing & Outsourced Services) (a)(b) 720,000 3,751,792 CSL Ltd. (Biotechnology) (a) 208,800 6,869,871 ----------- 14,366,530 =========== BRAZIL--2.80% Lojas Americanas S.A.-Pfd. (General Merchandise Stores) 225,300 8,656,531 Perdigao S.A.-Pfd. (Packaged Foods & Meats) 209,800 9,200,090 Telesp Celular Participacoes S.A.-Pfd. (Wireless Telecommunication services) (c) 761,300 3,682,599 Tim Participacoes S.A. - ADR (Wireless Telecommunication Services) (b) 148,100 5,516,725 ----------- 27,055,945 =========== CANADA--5.79% Astral Media Inc. (Broadcasting & Cable TV) 158,400 4,547,768 Brascan Corp.-Class A (Other Diversified Financial Services) 169,700 9,088,810 Canadian Oil Sands Trust (Oil & Gas Exploration & Production) 70,000 9,305,062 Power Financial Corp. (Other Diversified Financial Services) 263,200 7,769,247 Precision Drilling Trust (Oil and Gas Drilling) 145,300 4,877,140 Sherritt International Corp. (Diversified Metals & Mining) 967,300 8,688,247 Shoppers Drug Mart Corp. (Drug Retail) (d) 316,500 11,790,768 ----------- 56,067,042 =========== CHINA--0.66% Shanghai Electric Group Co. Ltd.-Class H (Heavy Electrical Equipment) (c) 16,144,000 6,399,123 DENMARK--0.80% DSV A.S. (Trucking) (a) 55,900 7,769,138 FRANCE--2.31% Eiffage S.A. (Construction & Engineering) 56,999 5,881,098 Pernod Ricard S.A. (Distillers & Vintners) (a) 49,000 9,113,109 Technip S.A. (Oil & Gas Equipment & Services) (Acquired 08/03/04 - 11/09/04 Cost $3,906,925) (a)(b)(e) 108,300 7,388,423 ----------- 22,382,630 =========== GERMANY--5.28% Adidas-Salomon A.G. (Apparel, Accessories & Luxury Goods) (a) 50,000 10,464,883 Celesio A.G. (Health Care Distributors) 85,300 7,987,395
F-1
SHARES VALUE ---------- ----------- GERMANY--(CONTINUED) Continental A.G. (Tires & Rubber) 99,140 $ 9,650,836 Deutsche Boerse A.G. (Specialized Finance) (a) 75,200 9,512,787 Puma A.G. Rudolf Dassler Sport (Footwear) (Acquired 10/29/02 - 06/02/03; Cost $2,933,761) (e) 42,635 13,482,085 ----------- 51,097,986 =========== GREECE--2.20% EFG Eurobank Ergasias (Diversified Banks) 139,520 5,188,495 OPAP S.A. (Casinos & Gaming) (a) 234,000 8,784,883 OPAP S.A. (Casinos & Gaming) (Acquired 7/14/03; Cost $2,090,216) (a)(e) 196,000 7,358,278 ----------- 21,331,656 =========== HONG KONG--1.98% Esprit Holdings Ltd. (Apparel Retail) (a) 1,014,000 8,824,427 Hongkong Land Holdings Ltd. (Real Estate Management & Development) (a) 1,152,000 3,793,997 Regal Hotels International Holdings Ltd. (Hotels, Resorts & Cruise Lines) 38,500,000 3,027,295 Solomon Systech International Ltd. (Semiconductors) (a) 7,556,000 3,534,053 ----------- 19,179,772 =========== HUNGARY--2.24% OTP Bank Rt. (Diversified Banks) 627,700 21,656,316 INDIA--0.56% Maruti Udyog Ltd. (Automobile Manufacturers) (a) 318,000 5,456,107 INDONESIA--0.45% PT Astra International Tbk (Automobile Manufacturers) (a) 3,958,000 4,398,207 IRELAND--3.06% Anglo Irish Bank Corp. PLC (Diversified Banks) 1,554,172 24,535,320 Independent News & Media PLC (Publishing) (a) 1,566,800 5,100,885 ----------- 29,636,205 =========== ISRAEL--0.53% Check Point Software Technologies Ltd. (Systems Software) (c) 235,000 5,085,400 ITALY--0.53% Lottomatica S.p.A. (Casinos & Gaming) (c) 127,900 5,102,992 JAPAN--4.88% EXEDY Corp. (Auto Parts & Equipment) (a) 267,400 7,929,450 FANUC Ltd. (Industrial Machinery) 56,700 4,992,210 JSR Corp. (Specialty Chemicals) (a)(b) 275,000 8,167,712 NEOMAX Co., Ltd. (Electrical Components & Equipment) (b) 136,000 4,683,060 Nidec Corp. (Electronic Equipment Manufacturers) (a)(b) 80,400 7,327,525 Nippon Electric Glass Co., Ltd. (Electronic Equipment Manufacturers) (b) 174,000 4,582,655
F-2
SHARES VALUE --------- ----------- JAPAN--(CONTINUED) Suzuki Motor Corp. (Automobile Manufacturers) (a) 207,000 $ 4,211,844 Yamaha Motor Co., Ltd. (Motorcycle Manufacturers) (a) 210,200 5,381,858 ----------- 47,276,314 =========== MEXICO--2.12% America Movil S.A. de C.V.-Series L-ADR (Wireless Telecommunication Services) 207,900 7,012,467 Corporacion GEO, S.A. de C.V.-Series B (Homebuilding) (c) 1,350,200 4,647,615 Wal-Mart de Mexico S.A. de C.V.-Series V (Hypermarkets & Super Centers) (b) 1,518,500 8,822,537 ----------- 20,482,619 =========== NETHERLANDS--0.51% Koninklijke BAM Groep N.V. (Construction & Engineering) (a) 55,100 4,939,282 NORWAY--1.70% Petroleum Geo-Services A.S.A. (Oil & Gas Equipment & Services) (c) 193,200 6,941,074 Tomra Systems A.S.A. (Environmental & Facilities Services) (a)(b) 1,196,600 9,499,257 ----------- 16,440,331 =========== RUSSIA--1.18% Vimpel-Communications-ADR (Wireless Telecommunication Services) (c) 243,070 11,375,713 SINGAPORE--0.00% Citiraya Industries Ltd. (Environmental & Facilities Services) (d)(f) 5,946,000 0 SOUTH AFRICA--3.56% Standard Bank Group Ltd. (Diversified Banks) (a) 1,338,442 18,093,344 Telkom South Africa Ltd. (Integrated Telecommunication Services) (b) 238,000 5,851,574 Telkom South Africa Ltd. (Integrated Telecommunication Services)(Acquired 11/25/03 - 06/18/04; Cost $4,387,570) (b)(e) 429,400 10,557,419 ----------- 34,502,337 =========== SOUTH KOREA--3.57% Daegu Bank (Regional Banks) (a) 211,000 3,309,324 Daesang Corp. (Packaged Foods & Meats) (a)(c) 317,000 4,776,698 Daewoo Shipbuilding & Marine Engineering Co., Ltd. (Construction & Farm Machinery & Heavy Trucks) 141,000 3,471,826 Hyundai Mipo Dockyard Co., Ltd. (Construction, Farm Machinery & Heavy Trucks) 55,300 3,686,476 NHN Corp. (Internet Software & Services) (a) 23,000 6,730,991 Shinsegae Co., Ltd. (Hypermarkets & Super Centers) (a) 9,050 4,769,945 Woongjin Coway Co., Ltd. (Housewares & Specialties) (a) 281,500 7,810,518 ----------- 34,555,778 ===========
F-3
SHARES VALUE --------- ------------ SPAIN--2.93% Corporacion Mapfre S.A. (Multi-Line Insurance) (a) 456,572 $ 8,193,505 Enagas (Gas Utilities) (a) 373,000 7,071,994 Grupo Ferrovial, S.A. (Construction & Engineering) (a) 167,600 13,106,159 ------------ 28,371,658 ============ SWEDEN--1.02% Gambro A.B.-Class A (Health Care Services) (a) 359,100 4,210,585 Swedish Match A.B. (Tobacco) (a) 451,700 5,695,004 ------------ 9,905,589 ============ SWITZERLAND--2.40% Baloise Holding A.G.-Class R (Multi-Line Insurance) (a) 70,300 4,456,085 Syngenta A.G. (Fertilizers & Agricultural Chemicals) (a) 147,600 18,814,744 ------------ 23,270,829 ============ TAIWAN--0.19% Wistron Corp. (Computer Hardware) (a)(c) 1,336,000 1,795,252 THAILAND--0.56% Siam Commercial Bank PCL (Diversified Banks) (a) 3,565,000 5,437,335 TURKEY--0.94% Tupras-Turkiye Petrol Rafinerileri A.S. (a) 439,743 9,126,520 (Oil & Gas Refining & Marketing) UNITED KINGDOM--9.16% British Energy Group PLC (Electric Utilities) (a)(c) 723,000 7,843,101 Bunzl PLC (Trading Companies & Distributors) (a) 692,533 7,784,300 Capita Group PLC (Human Resource & Employment Services) (a) 885,000 6,729,710 Enterprise Inns PLC (Restaurants) 1,488,600 24,470,923 Filtrona PLC (Commodity Chemicals) (a) 843,714 4,141,651 Inchcape PLC (Distributors) (a) 200,100 8,443,193 Informa PLC (Publishing) 1,081,752 8,386,205 International Power PLC (Independent Power Producers & Energy Traders) (a) 1,690,000 8,158,553 Shire PLC (Pharmaceuticals) 789,500 12,676,510 ------------ 88,634,146 ============ Total Foreign Stocks & Other Equity Interests (Cost $345,340,044) 633,098,752 ============ DOMESTIC COMMON STOCKS--30.92% AEROSPACE & DEFENSE--1.58% Precision Castparts Corp. 180,000 8,991,000 Rockwell Collins, Inc. 135,000 6,334,200 ------------ 15,325,200 ============ APPAREL RETAIL--0.52% AnnTaylor Stores Corp. (c) 150,000 4,998,000
F-4
SHARES VALUE ------- ----------- APPLICATION SOFTWARE--2.36% Amdocs Ltd. (c) 382,200 $12,306,840 Citrix Systems, Inc. (b)(c) 175,000 5,397,000 Hyperion Solutions Corp. (c) 150,000 5,161,500 ----------- 22,865,340 =========== AUTOMOTIVE RETAIL--0.25% Advance Auto Parts, Inc. (c) 55,000 2,396,350 CASINOS & GAMING--0.60% GTECH Holdings Corp. 175,000 5,848,500 COMMUNICATIONS EQUIPMENT--0.94% Harris Corp. 103,139 4,788,744 Redback Networks Inc. (c) 257,591 4,340,408 ----------- 9,129,152 =========== CONSTRUCTION & FARM MACHINERY & HEAVY TRUCKS--1.25% Joy Global Inc. 115,000 6,214,600 Oshkosh Truck Corp. 120,000 5,917,200 ----------- 12,131,800 =========== DEPARTMENT STORES--0.54% Nordstrom, Inc. 125,000 5,215,000 ELECTRONIC EQUIPMENT MANUFACTURERS--0.47% Amphenol Corp.-Class A 90,000 4,574,700 ELECTRONIC MANUFACTURING SERVICES--0.63% Jabil Circuit, Inc. (c) 150,000 6,060,000 HEALTH CARE DISTRIBUTORS--0.68% AmerisourceBergen Corp. 150,000 6,546,000 HEALTH CARE EQUIPMENT--0.62% Varian Medical Systems, Inc. (b)(c) 100,000 6,021,000 HEALTH CARE SERVICES--1.76% Express Scripts, Inc. (b)(c) 53,000 4,838,370 Laboratory Corp. of America Holdings (c) 115,000 6,744,750 Omnicare, Inc. 110,000 5,467,000 ----------- 17,050,120 =========== HEALTH CARE SUPPLIES--0.57% Bausch & Lomb Inc. 82,000 5,539,100 INDUSTRIAL CONGLOMERATES--0.87% Textron Inc. 100,000 8,446,000 INDUSTRIAL MACHINERY--0.74% Parker Hannifin Corp. 95,000 7,198,150
F-5
SHARES VALUE ------- ----------- MANAGED HEALTH CARE--1.29% Health Net, Inc. (c) 140,000 $ 6,911,800 Humana Inc. (c) 100,000 5,577,000 ----------- 12,488,800 =========== MULTI-LINE INSURANCE--1.46% Assurant, Inc. 150,000 6,888,000 HCC Insurance Holdings, Inc. 232,500 7,221,450 ----------- 14,109,450 =========== OFFICE SERVICES & SUPPLIES--0.47% Herman Miller, Inc. 150,000 4,545,000 OIL & GAS DRILLING--0.78% Pride International, Inc. (c) 215,000 7,591,650 OIL & GAS EQUIPMENT & SERVICES--0.73% BJ Services Co. 107,000 4,332,430 Weatherford International Ltd. (c) 60,706 2,718,415 ----------- 7,050,845 =========== OIL & GAS EXPLORATION & PRODUCTION--0.65% Newfield Exploration Co. (c) 120,000 6,288,000 OIL & GAS REFINING & MARKETING--0.59% Western Refining, Inc. (c) 305,000 5,718,750 OTHER DIVERSIFIED FINANCIAL SERVICES--0.72% Alliance Capital Management Holding L.P. 115,000 6,950,600 PHARMACEUTICALS--0.66% Barr Pharmaceuticals Inc. (c) 97,500 6,394,050 PROPERTY & CASUALTY INSURANCE--0.62% Safeco Corp. 115,000 6,008,750 REGIONAL BANKS--0.32% Bank of Hawaii Corp. 60,000 3,132,600 RESTAURANTS--1.07% Darden Restaurants, Inc. 120,000 4,879,200 YUM! Brands, Inc. 110,000 5,441,700 ----------- 10,320,900 =========== SEMICONDUCTORS--2.66% Freescale Semiconductor, Inc.-Class B (c) 250,000 6,312,500 Integrated Device Technology, Inc. (c) 434,342 6,033,010 Microchip Technology Inc. (b) 225,000 8,439,750 NVIDIA Corp. (c) 110,000 4,945,600 ----------- 25,730,860 ===========
F-6
SHARES VALUE ---------- -------------- SPECIALIZED FINANCE--0.55% Chicago Mercantile Exchange Holdings Inc. 12,500 $ 5,290,625 SPECIALTY STORES--1.36% Office Depot, Inc. (c) 210,000 6,961,500 Tiffany & Co. 165,000 6,220,500 -------------- 13,182,000 ============== TECHNOLOGY DISTRIBUTORS--0.50% Ingram Micro Inc.-Class A (c) 250,000 4,837,500 THRIFTS & MORTGAGE FINANCE--1.39% MGIC Investment Corp. 100,000 6,601,000 Radian Group Inc. 120,000 6,867,600 -------------- 13,468,600 ============== TRADING COMPANIES & DISTRIBUTORS--0.72% WESCO International, Inc. (c) 145,000 6,949,850 -------------- Total Domestic Common Stocks (Cost $240,237,745) 299,403,242 ============== MONEY MARKET FUNDS--2.46% Liquid Assets Portfolio-Institutional Class (g) 11,890,095 11,890,095 STIC Prime Portfolio-Institutional Class (g) 11,890,095 11,890,095 -------------- Total Money Market Funds (Cost $23,780,190) 23,780,190 ============== TOTAL INVESTMENTS--98.77% (excluding investments purchased with cash collateral from securities loaned) (Cost $609,357,979) 956,282,184 INVESTMENTS PURCHASED WITH CASH COLLATERAL FROM SECURITIES LOANED MONEY MARKET FUNDS--4.97% Liquid Assets Portfolio-Institutional Class (g)(h) 24,066,781 24,066,781 -------------- STIC Prime Portfolio-Institutional Class (g)(h) 24,066,782 24,066,782 ============== Total Money Market Funds (purchased with cash collateral from securities loaned) (Cost $48,133,563) 48,133,563 TOTAL INVESTMENTS--103.74% (Cost $657,491,542) 1,004,415,747 OTHER ASSETS LESS LIABILITIES--(3.74%) (36,201,616) -------------- NET ASSETS--100.00% $ 968,214,131 ==============
F-7 Investment Abbreviations: ADR American Depositary Receipt Pfd. Preferred Notes to Schedule of Investments: (a) In accordance with the procedures established by the Board of Trustees, the foreign security is fair valued using adjusted closing market prices. The aggregate value of these securities at January 31, 2006 was $319,821,146, which represented 33.03% of the Fund's Net Assets. See Note 1A. (b) All or a portion of this security has been pledged as collateral for securities lending transactions at January 31, 2006. (c) Non-income producing security. (d) Security fair valued in good faith in accordance with the procedures established by the Board of Trustees. The aggregate value of these securities at January 31, 2006 was $11,790,768, which represented 1.22% of the Fund's Net Assets. See Note 1A. (e) Security not registered under the Securities Act of 1933, as amended (e.g., the security was purchased in a Rule 144A transaction or a Regulation D transaction). The security may be resold only pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The Fund has no rights to demand registration of these securities. The aggregate value of these securities at January 31, 2006 was $38,786,205, which represented 4.01% of the Fund's Net Assets. Unless otherwise indicated, these securities are not considered to be illiquid. (f) Security considered to be illiquid. The Fund is limited to investing 15% of net assets in illiquid securities at the time of purchase. The value of this security considered illiquid at January 31, 2006 represented 0.00% of the Fund's Net Assets. (g) The money market fund and the Fund are affiliated by having the same investment advisor. See Note 2. (h) The security has been segregated to satisfy the forward commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned. See Note 3. See accompanying notes which are an integral part of this schedule. F-8 NOTES TO QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS January 31, 2006 (Unaudited) NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES A. SECURITY VALUATIONS - Securities, including restricted securities, are valued according to the following policy. A security listed or traded on an exchange (except convertible bonds) is valued at its last sales price as of the close of the customary trading session on the exchange where the security is principally traded, or lacking any sales on a particular day, the security is valued at the closing bid price on that day. Securities traded in the over-the-counter market (but not securities reported on the NASDAQ National Market System) are valued based on the prices furnished by independent pricing services, in which case the securities may be considered fair valued, or by market makers. Each security reported on the NASDAQ National Market System is valued at the NASDAQ Official Closing Price ("NOCP") as of the close of the customary trading session on the valuation date or absent a NOCP, at the closing bid price. Futures contracts are valued at the final settlement price set by an exchange on which they are principally traded. Listed options are valued at the mean between the last bid and the ask prices from the exchange on which they are principally traded. Options not listed on an exchange are valued by an independent source at the mean between the last bid and ask prices. For purposes of determining net asset value per share, futures and option contracts generally are valued 15 minutes after the close of the customary trading session of the New York Stock Exchange ("NYSE"). Investments in open-end registered investment companies and closed-end registered investment companies that do not trade on an exchange are valued at the end of day net asset value per share. Investments in closed-end registered investment companies that trade on an exchange are valued at the last sales price as of the close of the customary trading session on the exchange where the security is principally traded. Debt obligations (including convertible bonds) are fair valued using an evaluated quote provided by an independent pricing service. Evaluated quotes provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate, yield, quality, type of issue, coupon rate, maturity, individual trading characteristics and other market data. Short-term obligations having 60 days or less to maturity and commercial paper are recorded at amortized cost which approximates value. Securities for which market prices are not provided by any of the above methods are valued based upon quotes furnished by independent sources and are valued at the last bid price in the case of equity securities and in the case of debt obligations, the mean between the last bid and asked prices. Foreign securities (including foreign exchange contracts) are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the NYSE. Generally, trading in foreign securities is substantially completed each day at various times prior to the close of the NYSE. The values of such securities used in computing the net asset value of the Fund's shares are determined as of the close of the respective markets. Events affecting the values of such foreign securities may occur between the times at which the particular foreign market closes and the close of the customary trading session of the NYSE which would not ordinarily be reflected in the computation of the Fund's net asset value. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith using procedures approved by the Board of Trustees. Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities meeting the approved degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, ADRs and domestic and foreign index futures. F-9 A. SECURITY VALUATIONS - (CONTINUED) Securities for which market quotations are not readily available or are unreliable are valued at fair value as determined in good faith by or under the supervision of the Trust's officers following procedures approved by the Board of Trustees. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value. B. SECURITIES TRANSACTIONS AND INVESTMENT INCOME - Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income is recorded on the accrual basis from settlement date. Dividend income is recorded on the ex-dividend date. Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the realized and unrealized net gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and Statement of Changes in Net Assets, or the net investment income per share and ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the advisor. The Fund allocates income and realized and unrealized capital gains and losses to a class based on the relative net assets of each class. C. COUNTRY DETERMINATION - For the purposes of making investment selection decisions and presentation in the Schedule of Investments, AIM may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuer's securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be United States of America unless otherwise noted. D. FOREIGN CURRENCY TRANSLATIONS - Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (i) sales of foreign currencies, (ii) currency gains or losses realized between the trade and settlement dates on securities transactions, and (iii) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates. F-10 E. FOREIGN CURRENCY CONTRACTS - A foreign currency contract is an obligation to purchase or sell a specific currency for an agreed-upon price at a future date. The Fund may enter into a foreign currency contract to attempt to minimize the risk to the Fund from adverse changes in the relationship between currencies. The Fund may also enter into a foreign currency contract for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security. The Fund could be exposed to risk if counterparties to the contracts are unable to meet the terms of their contracts or if the value of the foreign currency changes unfavorably. NOTE 2 - INVESTMENTS IN AFFILIATES The Fund is permitted, pursuant to an exemptive order from the Securities and Exchange Commission to invest daily available cash balances and cash collateral from securities lending transactions in affiliated money market funds. The Fund and the money market funds below have the same investment advisor and therefore, are considered to be affiliated. The tables below show the transactions in and earnings from investments in affiliated money market funds for the three months ended January 31, 2006. INVESTMENTS OF DAILY AVAILABLE CASH BALANCES:
CHANGE IN UNREALIZED REALIZED VALUE PURCHASES PROCEEDS FROM APPRECIATION VALUE DIVIDEND GAIN FUND 10/31/05 AT COST SALES (DEPRECIATION) 01/31/06 INCOME (LOSS) - ---- ----------- ----------- ------------- -------------- ----------- -------- -------- Liquid Assets $12,714,164 $34,658,491 $(35,482,560) $-- $11,890,095 $132,053 $-- Portfolio-Institutional Class STIC Prime Portfolio-Institutional Class 12,714,164 34,658,491 (35,482,560) -- 11,890,095 132,693 -- ----------- ----------- ------------ --- ----------- -------- --- SUBTOTAL $25,428,328 $69,316,982 $(70,965,120) $-- $23,780,190 $264,746 $-- =========== =========== ============ === =========== ======== ===
INVESTMENTS OF CASH COLLATERAL FROM SECURITIES LENDING TRANSACTIONS:
CHANGE IN UNREALIZED REALIZED VALUE PURCHASES PROCEEDS FROM APPRECIATION VALUE DIVIDEND GAIN FUND 10/31/05 AT COST SALES (DEPRECIATION) 01/31/06 INCOME * (LOSS) - ---- ----------- ------------ ------------- -------------- ----------- -------- -------- Liquid Assets Portfolio-Institutional Class $36,454,453 $ 24,672,137 $ (37,059,809) $-- $24,066,781 $ 16,694 $-- STIC Prime Portfolio-Institutional Class 36,454,454 24,821,768 (37,209,440) -- 24,066,782 16,807 -- ----------- ------------ ------------- --- ----------- -------- --- SUBTOTAL $72,908,907 $ 49,493,905 $ (74,269,249) $-- $48,133,563 $ 33,501 $-- ----------- ------------ ------------- --- ----------- -------- --- TOTAL $98,337,235 $118,810,887 $(145,234,369) $-- $71,913,753 $298,247 $-- =========== ============ ============= === =========== ======== ===
* Net of compensation to counterparties. F-11 NOTE 3 - PORTFOLIO SECURITIES LOANED The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated money market funds. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. Lending securities entails a risk of loss to the Fund if and to the extent that the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower fails to return the securities. The Fund could also experience delays and costs in gaining access to the collateral. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to a loss on the collateral invested. At January 31, 2006, securities with an aggregate value of $46,451,277 were on loan to brokers. The loans were secured by cash collateral of $48,133,563 received by the Fund and subsequently invested in affiliated money market funds. For the three months ended January 31, 2006, the Fund received dividends on cash collateral investments of $33,501 for securities lending transactions, which are net of compensation to counterparties. NOTE 4 - INVESTMENT SECURITIES The aggregate amount of investment securities (other than short-term securities and money market funds) purchased and sold by the Fund during the three months ended January 31, 2006 was $146,213,286 and $170,748,618, respectively. For interim reporting periods, the cost of investments for tax purposes includes reversals of certain tax items, such as, wash sales that have occurred since the prior fiscal year-end. UNREALIZED APPRECIATION (DEPRECIATION) OF INVESTMENT SECURITIES ON A TAX BASIS Aggregate unrealized appreciation of investment securities $353,434,615 Aggregate unrealized (depreciation) of investment securities (6,585,888) ------------ Net unrealized appreciation of investment securities $346,848,727 ============
Cost of investments for tax purposes is $657,567,020. F-12 AIM GLOBAL GROWTH FUND Quarterly Schedule of Portfolio Holdings o January 31, 2006 YOUR GOALS. OUR SOLUTIONS. [AIM INVESTMENTS LOGO APPEARS HERE] --Registered Trademark-- --Registered Trademark-- AIMinvestments.com GLG-QTR-1 1/06 A I M Advisors, Inc. SCHEDULE OF INVESTMENTS January 31, 2006 (Unaudited)
SHARES VALUE --------- ----------- FOREIGN STOCKS & OTHER EQUITY INTERESTS-- 69.92% AUSTRALIA--1.72% BHP Billiton Ltd. (Diversified Metals & Mining) (a) 233,100 $ 4,595,920 QBE Insurance Group Ltd. (Property & Casualty Insurance) (a)(b) 211,900 3,099,114 ----------- 7,695,034 =========== AUSTRIA--0.75% OMV A.G. (Integrated Oil & Gas) (a) 47,700 3,372,589 BELGIUM--2.51% InBev N.V. (Brewers) (a) 139,200 6,561,558 KBC Groep N.V. (Diversified Banks) (a)(b) 46,250 4,646,842 ----------- 11,208,400 =========== BRAZIL--0.96% Companhia de Bebidas das Americas-Pfd.-ADR (Brewers) (b) 105,300 4,313,088 CANADA--3.18% Manulife Financial Corp. (Life & Health Insurance) (b) 95,700 5,831,318 Power Corp. of Canada (Other Diversified Financial Services) 104,100 2,933,939 Suncor Energy, Inc. (Integrated Oil & Gas) 68,400 5,468,036 ----------- 14,233,293 =========== FRANCE--12.67% AXA (Multi-Line Insurance) (a)(b) 110,300 3,740,395 BNP Paribas S.A. (Diversified Banks) (b) 98,730 8,807,014 Bouygues S.A. (Wireless Telecommunication Services) (a)(b) 69,800 3,826,185 Pernod Ricard S.A. (Distillers & Vintners) (a)(b) 21,370 3,974,431 Sanofi-Aventis (Pharmaceuticals) (a)(b) 51,000 4,674,702 Societe Generale (Diversified Banks) (b) 45,070 5,953,887 TOTAL S.A. (Integrated Oil & Gas) (a)(b) 31,159 8,613,311 Veolia Environnement (Multi-Utilities) (a)(b) 47,500 2,411,039 Vinci S.A. (Construction & Engineering) (b) 101,160 9,411,038 Vivendi Universal S.A. (Movies & Entertainment) (a)(b) 168,100 5,260,911 ----------- 56,672,913 ===========
F-1
SHARES VALUE --------- ----------- GERMANY--4.72% Adidas-Salomon A.G. (Apparel, Accessories & Luxury Goods) (a)(b) 22,950 $ 4,803,381 Henkel KGaA-Pfd. (Household Products) (a)(b) 43,800 4,906,955 MAN A.G. (Industrial Machinery) (a) 68,100 3,913,080 Merck KGaA (Pharmaceuticals) (a) 38,700 4,038,170 Porsche A.G.-Pfd. (Automobile Manufacturers) (b) 4,440 3,434,511 ----------- 21,096,097 =========== GREECE--1.54% OPAP S.A. (Casinos & Gaming) (a) 183,000 6,870,229 HONG KONG--1.29% Cheung Kong (Holdings) Ltd. (Real Estate Management & Development) (a) 293,000 3,146,626 China Construction Bank-Class H (Diversified Banks) (Acquired 10/20/05; Cost $2,059,332) (c)(d) 6,731,000 2,646,328 ----------- 5,792,954 =========== HUNGARY--0.70% OTP Bank Rt. (Diversified Banks) 91,300 3,149,947 INDIA--1.09% Infosys Technologies Ltd.-ADR (IT Consulting & Other Services) (b) 63,900 4,873,653 IRELAND--2.65% Anglo Irish Bank Corp. PLC (Diversified Banks) 491,960 7,766,448 CRH PLC (Construction Materials) (a) 131,234 4,068,678 ----------- 11,835,126 =========== ISRAEL--0.86% Teva Pharmaceutical Industries Ltd.-ADR (Pharmaceuticals) (b) 89,960 3,834,995 ITALY--2.10% Eni S.p.A. (Integrated Oil & Gas) (a)(b) 309,000 9,374,709
F-2
SHARES VALUE --------- ------------ JAPAN--7.75% Canon Inc. (Office Electronics) (a) 40,100 $ 2,418,417 Hoya Corp. (Electronic Equipment Manufacturers) (a) 141,900 5,676,673 Keyence Corp. (Electronic Equipment Manufacturers) (a)(b) 21,400 5,859,637 Mizuho Financial Group, Inc. (Diversified Banks) (Acquired 10/24/05; Cost $2,013,641) (a)(d) 335 2,736,825 Nitto Denko Corp. (Specialty Chemicals) (a)(b) 59,000 4,985,490 ORIX Corp. (Consumer Finance) (b) 11,500 2,974,856 SMC Corp. (Industrial Machinery) 21,000 3,216,450 Takeda Pharmaceutical Co. Ltd. (Pharmaceuticals) (a) 50,500 2,853,017 Toyota Motor Corp. (Automobile Manufacturers) 76,000 3,938,462 ----------- 34,659,827 =========== MEXICO--1.73% Grupo Televisa, S.A.-ADR (Broadcasting & Cable TV) 26,900 2,247,495 Wal-Mart de Mexico S.A. de C.V.-Series V (Hypermarkets & Super Centers) 944,900 5,489,902 ----------- 7,737,397 =========== NETHERLANDS--1.49% ING Groep N.V. (Other Diversified Financial Services) (a) 85,000 3,036,053 Royal DSM N.V. (Specialty Chemicals) (a) 80,800 3,616,066 ----------- 6,652,119 =========== RUSSIA--0.67% OAO LUKOIL-ADR (Integrated Oil & Gas) (a) 39,300 3,012,036 SINGAPORE--0.54% DBS Group Holdings Ltd. (Diversified Banks) 238,000 2,406,264 SOUTH AFRICA--0.50% Telkom South Africa Ltd. (Integrated Telecommunication Services) 90,800 2,232,449 SOUTH KOREA--1.83% Hyundai Motor Co. (Automobile Manufacturers) (a) 31,560 2,850,144 Samsung Electronics Co., Ltd. (Electronic Equipment Manufacturers) (a) 7,000 5,350,101 ----------- 8,200,245 =========== SPAIN--2.67% ACS, Actividades de Construccion y Servicios, S.A. (Construction & Engineering) (a) 109,900 3,827,512 Banco Santander Central Hispano S.A. (Diversified Banks) (a) 283,700 4,083,615 Industria de Diseno Textil, S.A. (Apparel Retail) (a) 117,000 4,020,510 ----------- 11,931,637 ===========
F-3
SHARES VALUE --------- ------------ SWEDEN--1.41% Atlas Copco A.B.-Class A (Industrial Machinery) 110,800 $ 2,604,638 Volvo A.B.-Class B (Construction & Farm Machinery & Heavy Trucks) (a)(b) 75,100 3,680,950 ------------ 6,285,588 ============ SWITZERLAND--8.65% Compagnie Financiere Richemont A.G.-Class A (Apparel, Accessories & Luxury Goods) (a) 134,800 6,129,546 Credit Suisse Group (Diversified Capital Markets) (a) 81,100 4,742,556 Nestle S.A. (Packaged Foods & Meats) (a) 13,685 4,016,625 Roche Holding A.G. (Pharmaceuticals) 45,850 7,245,326 Syngenta A.G. (Fertilizers & Agricultural Chemicals) (a) 66,210 8,439,866 UBS A.G. (Diversified Capital Markets) 74,630 8,115,129 ------------ 38,689,048 ============ TAIWAN--0.55% Taiwan Semiconductor Manufacturing Co. Ltd. (Semiconductors) (a) 1,233,747 2,474,545 UNITED KINGDOM--5.39% Aviva PLC (Multi-Line Insurance) 338,684 4,341,392 Imperial Tobacco Group PLC (Tobacco) (a) 271,270 8,073,939 Reckitt Benckiser PLC (Household Products) (a) 137,080 4,505,028 Tesco PLC (Food Retail) (a) 929,769 5,262,755 Vodafone Group PLC (Wireless Telecommunication Services) (a) 906,630 1,904,059 ------------ 24,087,173 ============ Total Foreign Stocks & Other Equity Interests (Cost $190,364,664) 312,691,355 DOMESTIC COMMON STOCKS--27.65% AEROSPACE & DEFENSE--1.31% General Dynamics Corp. 29,500 3,432,620 Lockheed Martin Corp. 36,000 2,435,400 ------------ 5,868,020 ============ APPLICATION SOFTWARE--0.63% Amdocs Ltd. (c) 88,000 2,833,600 BIOTECHNOLOGY--1.30% Amgen Inc. (c) 30,500 2,223,145 Gilead Sciences, Inc. (c) 58,838 3,581,469 ------------ 5,804,614 ============
F-4
SHARES VALUE ---------- ------------ COMMUNICATIONS EQUIPMENT--1.45% Cisco Systems, Inc. (c) 110,000 $ 2,042,700 Motorola, Inc. 96,000 2,180,160 QUALCOMM Inc. 47,450 2,275,702 ------------ 6,498,562 ============ COMPUTER HARDWARE--0.51% Apple Computer, Inc. (c) 30,000 2,265,300 COMPUTER STORAGE & PERIPHERALS--0.54% EMC Corp. (c) 180,000 2,412,000 DEPARTMENT STORES--0.95% Federated Department Stores, Inc. 30,931 2,060,932 Nordstrom, Inc. 52,000 2,169,440 ------------ 4,230,372 ============ GENERAL MERCHANDISE STORES--0.47% Target Corp. 38,500 2,107,875 HEALTH CARE DISTRIBUTORS--0.52% Cardinal Health, Inc. 32,283 2,325,667 HEALTH CARE SERVICES--0.54% Medco Health Solutions, Inc. (c) 44,522 2,408,640 HEALTH CARE SUPPLIES--1.37% Alcon, Inc. 47,953 6,134,148 HOME ENTERTAINMENT SOFTWARE--0.45% Electronic Arts Inc. (c) 37,203 2,030,540 HOME IMPROVEMENT RETAIL--0.75% Home Depot, Inc. (The) 82,215 3,333,818 HOUSEHOLD PRODUCTS--0.76% Procter & Gamble Co. (The) 57,608 3,412,122 HOUSEWARES & SPECIALTIES--0.46% Fortune Brands, Inc. 27,379 2,052,330 INTERNET SOFTWARE & SERVICES--0.46% Yahoo! Inc. (c) 60,000 2,060,400 INVESTMENT BANKING & BROKERAGE--1.55% Goldman Sachs Group, Inc. (The) 49,000 6,921,250
F-5
SHARES VALUE ---------- ------------ MANAGED HEALTH CARE--2.02% Aetna Inc. 44,705 $ 4,327,444 CIGNA CORP. 19,666 2,391,386 UnitedHealth Group Inc. 39,273 2,333,602 ------------ 9,052,432 ============ MULTI-LINE INSURANCE--0.50% Hartford Financial Services Group, Inc. (The) 27,000 2,220,210 OIL & GAS EQUIPMENT & SERVICES--1.04% BJ Services Co. 114,345 4,629,829 OIL & GAS REFINING & MARKETING --1.12% Valero Energy Corp. 80,000 4,994,400 PHARMACEUTICALS--2.67% Allergan, Inc. 23,375 2,720,850 Johnson & Johnson 109,246 6,286,015 Wyeth 63,700 2,946,125 ------------ 11,952,990 ============ PROPERTY & CASUALTY INSURANCE--0.74% Allstate Corp. (The) 63,894 3,325,683 RAILROADS--0.74% Burlington Northern Santa Fe Corp. 41,000 3,284,920 RESTAURANTS--0.42% YUM! Brands, Inc. 38,000 1,879,860 SEMICONDUCTOR EQUIPMENT--0.49% KLA-Tencor Corp. 42,183 2,192,672 SEMICONDUCTORS--1.82% Analog Devices, Inc. 118,312 4,705,268 Marvell Technology Group Ltd. (c) 50,000 3,421,000 ------------ 8,126,268 ============ STEEL--0.47% Nucor Corp. 25,000 2,105,750 SYSTEMS SOFTWARE--1.08% Microsoft Corp. 90,000 2,533,500 Oracle Corp. (c) 183,481 2,306,356 ------------ 4,839,856 ============
F-6
SHARES VALUE ---------- ------------ THRIFTS & MORTGAGE FINANCE--0.52% MGIC Investment Corp. 35,400 $ 2,336,754 ------------ TOTAL DOMESTIC COMMON STOCKS (COST $98,813,541) 123,640,882 ============ MONEY MARKET FUNDS--2.38% Liquid Assets Portfolio-Institutional Class (e) 5,316,972 5,316,972 STIC Prime Portfolio-Institutional Class (e) 5,316,972 5,316,972 ------------ TOTAL MONEY MARKET FUNDS (COST $10,633,944) 10,633,944 ============ TOTAL INVESTMENTS--99.95% (excluding investments purchased with cash collateral from securities loaned) (Cost $299,812,149) 446,966,181 INVESTMENTS PURCHASED WITH CASH COLLATERAL FROM SECURITIES LOANED MONEY MARKET FUNDS--17.24% STIC Prime Portfolio-Institutional Class (e)(f) 77,080,167 77,080,167 Total Money Market Funds (purchased with cash collateral from securities loaned) (Cost $77,080,167) 77,080,167 TOTAL INVESTMENTS--117.19% (Cost $376,892,316) 524,046,348 ------------ OTHER ASSETS LESS LIABILITIES--(17.19%) (76,875,974) ------------ NET ASSETS--100.00% $447,170,374 ============
Investment Abbreviations: ADR American Depositary Receipt Pfd. Preferred Notes to Schedule of Investments: (a) In accordance with the procedures established by the Board of Trustees, the foreign security is fair valued using adjusted closing market prices. The aggregate value of these securities at January 31, 2006 was $199,454,790, which represented 44.60% of the Fund's Net Assets. See Note 1A. (b) All or a portion of this security has been pledged as collateral for securities lending transactions at January 31, 2006. (c) Non-income producing security. (d) Security not registered under the Securities Act of 1933, as amended (e.g., the security was purchased in a Rule 144A transaction or a Regulation D transaction). The security may be resold only pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The Fund has no rights to demand registration of these securities. The aggregate value of these securities at January 31, 2006 was $5,383,153, which represented 1.20% of the Fund's Net Assets. Unless otherwise indicated, these securities are not considered to be illiquid. (e) The money market fund and the Fund are affiliated by having the same investment advisor. See Note 2. (f) The security has been segregated to satisfy the forward commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned. See Note 3. See accompanying notes which are an integral part of this schedule. F-7 Notes to Quarterly Schedule of Portfolio Holdings January 31, 2006 (Unaudited) NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES A. SECURITY VALUATIONS - Securities, including restricted securities, are valued according to the following policy. A security listed or traded on an exchange (except convertible bonds) is valued at its last sales price as of the close of the customary trading session on the exchange where the security is principally traded, or lacking any sales on a particular day, the security is valued at the closing bid price on that day. Each security traded in the over-the-counter market (but not securities reported on the NASDAQ National Market System) is valued on the basis of prices furnished by independent pricing services, which may be considered fair valued, or market makers. Each security reported on the NASDAQ National Market System is valued at the NASDAQ Official Closing Price ("NOCP") as of the close of the customary trading session on the valuation date or absent a NOCP, at the closing bid price. Futures contracts are valued at the final settlement price set by an exchange on which they are principally traded. Listed options are valued at the mean between the last bid and the ask prices from the exchange on which they are principally traded. Options not listed on an exchange are valued by an independent source at the mean between the last bid and ask prices. For purposes of determining net asset value per share, futures and option contracts generally are valued 15 minutes after the close of the customary trading session of the New York Stock Exchange ("NYSE"). Investments in open-end registered investment companies and closed-end registered investment companies that do not trade on an exchange are valued at the end of day net asset value per share. Investments in closed-end registered investment companies that trade on an exchange are valued at the last sales price as of the close of the customary trading session on the exchange where the security is principally traded. Debt obligations (including convertible bonds) are fair valued using an evaluated quote provided by an independent pricing service. Evaluated quotes provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate, yield, quality, type of issue, coupon rate, maturity, individual trading characteristics and other market data. Short-term obligations having 60 days or less to maturity and commercial paper are recorded at amortized cost which approximates value. Securities for which market prices are not provided by any of the above methods are valued based upon quotes furnished by independent sources and are valued at the last bid price in the case of equity securities and in the case of debt obligations, the mean between the last bid and asked prices. Foreign securities (including foreign exchange contracts) are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the NYSE. Generally, trading in foreign securities is substantially completed each day at various times prior to the close of the NYSE. The values of such securities used in computing the net asset value of the Fund's shares are determined as of the close of the respective markets. Events affecting the values of such foreign securities may occur between the times at which the particular foreign market closes and the close of the customary trading session of the NYSE which would not ordinarily be reflected in the computation of the Fund's net asset value. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith using procedures approved by the Board of Trustees. Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities meeting the approved degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, ADRs and domestic and foreign index futures. F-8 A. SECURITY VALUATIONS - (CONTINUED) Securities for which market quotations are not readily available or are unreliable are valued at fair value as determined in good faith by or under the supervision of the Trust's officers following procedures approved by the Board of Trustees. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value. B. SECURITIES TRANSACTIONS AND INVESTMENT INCOME - Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income is recorded on the accrual basis from settlement date. Dividend income is recorded on the ex-dividend date. Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the realized and unrealized net gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and Statement of Changes in Net Assets, or the net investment income per share and ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the advisor. The Fund allocates income and realized and unrealized capital gains and losses to a class based on the relative net assets of each class. C. COUNTRY DETERMINATION - For the purposes of making investment selection decisions and presentation in the Schedule of Investments, AIM may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuer's securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be United States of America unless otherwise noted. D. FOREIGN CURRENCY TRANSLATIONS - Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (i) sales of foreign currencies, (ii) currency gains or losses realized between the trade and settlement dates on securities transactions, and (iii) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates. F-9 E. FOREIGN CURRENCY CONTRACTS - A foreign currency contract is an obligation to purchase or sell a specific currency for an agreed-upon price at a future date. The Fund may enter into a foreign currency contract to attempt to minimize the risk to the Fund from adverse changes in the relationship between currencies. The Fund may also enter into a foreign currency contract for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security. The Fund could be exposed to risk if counterparties to the contracts are unable to meet the terms of their contracts or if the value of the foreign currency changes unfavorably. NOTE 2 - INVESTMENTS IN AFFILIATES The Fund is permitted, pursuant to an exemptive order from the Securities and Exchange Commission to invest daily available cash balances and cash collateral from securities lending transactions in affiliated money market funds. The Fund and the money market funds below have the same investment advisor and therefore, are considered to be affiliated. The tables below show the transactions in and earnings from investments in affiliated money market funds for the three months ended January 31, 2006. INVESTMENTS OF DAILY AVAILABLE CASH BALANCES:
CHANGE IN UNREALIZED REALIZED VALUE PURCHASES PROCEEDS FROM APPRECIATION VALUE DIVIDEND GAIN FUND 10/31/05 AT COST SALES (DEPRECIATION) 01/31/06 INCOME (LOSS) - ---- ---------- ----------- ------------- -------------- ----------- -------- -------- Liquid Assets Portfolio-Institutional Class $1,997,903 $17,408,715 $(14,089,646) $-- $ 5,316,972 $38,072 $-- STIC Prime Portfolio-Institutional Class 1,997,903 17,408,715 (14,089,646) -- 5,316,972 38,213 -- ---------- ----------- ------------ --- ----------- ------- --- SUBTOTAL $3,995,806 $34,817,430 $(28,179,292) $-- $10,633,944 $76,285 $-- ========== =========== ============ === =========== ======= ===
INVESTMENTS OF CASH COLLATERAL FROM SECURITIES LENDING TRANSACTIONS:
CHANGE IN UNREALIZED REALIZED VALUE PURCHASES PROCEEDS FROM APPRECIATION VALUE DIVIDEND GAIN FUND 10/31/05 AT COST SALES (DEPRECIATION) 01/31/06 INCOME* (LOSS) - ---- ----------- ------------ ------------- -------------- ----------- -------- -------- STIC Prime Portfolio-Institutional Class $74,176,177 $ 67,419,214 $(64,515,224) $-- $77,080,167 $ 40,092 $-- ----------- ------------ ------------ --- ----------- -------- --- TOTAL $78,171,983 $102,236,644 $(92,694,516) $-- $87,714,111 $116,377 $-- =========== ============ ============ === =========== ======== ===
* Net of compensation to counterparties. NOTE 3 - PORTFOLIO SECURITIES LOANED The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated money market funds. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. Lending securities entails a risk of loss to the Fund if and to the extent that the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower fails to return the securities. The Fund could also F-10 NOTE 3 - PORTFOLIO SECURITIES LOANED - (CONTINUED) experience delays and costs in gaining access to the collateral. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to a loss on the collateral invested. At January 31, 2006, securities with an aggregate value of $74,077,363 were on loan to brokers. The loans were secured by cash collateral of $77,080,167 received by the Fund and subsequently invested in an affiliated money market fund. For the three months ended January 31, 2006, the Fund received dividends on cash collateral investments of $40,092 for securities lending transactions, which are net of compensation to counterparties. NOTE 4 - INVESTMENT SECURITIES The aggregate amount of investment securities (other than short-term securities and money market funds) purchased and sold by the Fund during the three months ended January 31, 2006 was $34,964,337 and $56,836,610, respectively. For interim reporting periods, the cost of investments for tax purposes includes reversals of certain tax items, such as, wash sales that have occurred since the prior fiscal year-end. UNREALIZED APPRECIATION (DEPRECIATION) OF INVESTMENT SECURITIES ON A TAX BASIS Aggregate unrealized appreciation of investment securities $147,642,722 Aggregate unrealized (depreciation) of investment securities (1,474,836) ------------ Net unrealized appreciation of investment securities $146,167,886 ============
Cost of investments for tax purposes is $377,878,462. F-11 AIM INTERNATIONAL CORE EQUITY FUND Quarterly Schedule of Portfolio Holdings o January 31, 2006 YOUR GOALS. OUR SOLUTIONS. [AIM INVESTMENTS LOGO APPEARS HERE] --Registered Trademark-- --Registered Trademark-- AIMinvestments.com I-ICE-QTR-1 1/06 A I M Advisors, Inc. SCHEDULE OF INVESTMENTS January 31, 2006 (Unaudited)
SHARES VALUE ------- ---------- FOREIGN STOCKS & OTHER EQUITY INTERESTS--97.95% AUSTRALIA--1.48% National Australia Bank Ltd. (Diversified Banks) (a)(b) 135,400 $ 3,470,641 National Australia Bank Ltd. -ADR (Diversified Banks) 10,600 1,366,870 ----------- 4,837,511 =========== BELGIUM--1.28% Belgacom S.A. (Integrated Telecommunication Services) (b) 134,900 4,156,682 CANADA--1.50% BCE Inc. (Integrated Telecommunication Services) (a) 105,900 2,560,680 EnCana Corp. (Oil & Gas Exploration & Production) 46,900 2,334,808 ----------- 4,895,488 =========== CHINA--0.61% China Life Insurance Co., Ltd. -ADR (Life & Health Insurance) (c) 48,600 1,989,198 DENMARK--1.41% Danske Bank A.S. (Diversified Banks) 130,600 4,587,698 FINLAND--4.80% Nokia Oyj (Communications Equipment) (b) 430,000 7,902,604 Stora Enso Oyj-Class R (Paper Products) (b) 295,400 4,097,591 UPM-Kymmene Oyj (Paper Products) (b) 177,200 3,633,462 ----------- 15,633,657 =========== FRANCE--5.49% Compagnie Generale des Etablissements Michelin- Class B (Tires & Rubber) (a)(b) 72,461 4,331,841 Credit Agricole S.A. (Diversified Banks) (a)(b) 118,400 4,181,963 Societe Generale-ADR (Diversified Banks) (d) 162,500 4,289,821 Total S.A.-ADR (Integrated Oil & Gas) 36,700 5,076,711 ----------- 17,880,336 =========== GERMANY--3.73% BASF A.G. (Diversified Chemicals) (b) 35,100 2,767,374 BASF A.G.-ADR (Diversified Chemicals) 29,750 2,343,408 Bayerische Motoren Werke A.G. (Automobile Manufacturers) 87,200 3,945,418 Deutsche Bank A.G.-German Shares (Diversified Capital Markets) (a) 15,750 1,691,679 Deutsche Bank A.G.-New York Shares (Diversified Capital Markets) (a) 13,070 1,404,110 ----------- 12,151,989 ===========
F-1
SHARES VALUE -------- ----------- HONG KONG--1.92% Cheung Kong (Holdings) Ltd. (Real Estate Management & Development) (b) 291,000 $ 3,125,148 Hutchison Whampoa Ltd. (Industrial Conglomerates) (b) 307,100 3,139,931 ----------- 6,265,079 =========== ITALY--1.46% 3 Italia S.p.A.-Rts. (Wireless Telecommunication Services) (e)(f)(g) 306 0 Eni S.p.A.-ADR (Integrated Oil & Gas) 78,312 4,749,623 ----------- 4,749,623 =========== JAPAN--22.26% Canon Inc. (Office Electronics) (b) 65,300 3,938,220 Canon Inc.-ADR (Office Electronics) 48,700 2,932,714 East Japan Railway Co. (Railroads) (b) 762 5,288,778 Fuji Photo Film Co., Ltd. (Photographic Products) (a)(b) 72,000 2,477,732 Fuji Photo Film Co., Ltd.-ADR (Photographic Products) 98,600 3,418,462 Kao Corp. (Household Products) (b) 111,000 3,196,383 Millea Holdings, Inc. (Property & Casualty Insurance) 175 3,356,062 NEC Electronics Corp. (Semiconductors) (a)(b) 46,700 1,531,292 Nintendo Co., Ltd. (Home Entertainment Software) (b) 31,300 4,287,679 Nippon Telegraph and Telephone Corp. (Integrated Telecommunication Services) (b) 742 3,446,640 Nippon Telegraph and Telephone Corp.-ADR (Integrated Telecommunication Services) 24,585 571,355 NOK Corp. (Auto Parts & Equipment) (b) 25,200 772,207 Nomura Holdings, Inc. (Investment Banking & Brokerage) (b) 307,000 5,977,124 Olympus Corp. (Health Care Equipment) (a)(b) 27,000 710,972 Seven & I Holdings Co., Ltd. (Food Retail) (a)(c) 75,800 3,204,500 Shin-Etsu Chemical Co., Ltd. (Specialty Chemicals) (b) 114,300 6,526,989 SMC Corp. (Industrial Machinery) (a) 20,800 3,185,817 Sony Corp.-ADR (Consumer Electronics) 141,100 6,899,790 Takeda Pharmaceutical Co. Ltd. (Pharmaceuticals) (b) 114,900 6,491,319 Toyota Motor Corp. (Automobile Manufacturers) 82,500 4,275,304 ----------- 72,489,339 =========== MEXICO--1.80% Fomento Economico Mexicano, S.A. de C.V. - -ADR (Soft Drinks) 35,200 2,757,568 Telefonos de Mexico S.A. de C.V.-Series L-ADR (Integrated Telecommunication Services) 130,190 3,090,711 ----------- 5,848,279 =========== NETHERLANDS--7.78% Aegon N.V. (Life & Health Insurance) (b) 340,500 5,500,311 Heineken N.V. (Brewers) (b) 146,800 5,162,804 ING Groep N.V.-ADR (Other Diversified Financial Services) 122,300 4,372,225 Koninklijke (Royal) Philips Electronics N.V.-New York Shares (Consumer Electronics) 92,700 3,121,209 TNT N.V. (Air Freight & Logistics) (b) 219,150 7,193,662 ----------- 25,350,211 ===========
F-2
SHARES VALUE ---------- ------------ NORWAY--1.20% Statoil A.S.A. (Integrated Oil & Gas) (b) 141,100 $ 3,908,226 SOUTH KOREA--3.02% Kookmin Bank (Diversified Banks) (b) 45,500 3,625,644 Korea Electric Power Corp.-ADR (Electric Utilities) 80,700 1,833,504 KT Corp.-ADR (Integrated Telecommunication Services) 207,200 4,373,992 ------------ 9,833,140 ============ SPAIN--0.94% Repsol YPF, S.A.-ADR (Integrated Oil & Gas) 112,400 3,058,404 SWEDEN--1.13% Nordea Bank A.B. (Diversified Banks) (b) 341,500 3,676,315 SWITZERLAND--9.03% Credit Suisse Group (Diversified Capital Markets) (b) 101,800 5,953,048 Nestle S.A. (Packaged Foods & Meats) (b) 10,125 2,971,745 Nestle S.A.-ADR (Packaged Foods & Meats) (d) 38,575 2,822,892 Novartis A.G. (Pharmaceuticals) (b) 90,950 5,016,499 Novartis A.G.-ADR (Pharmaceuticals) 70,000 3,861,200 Roche Holding A.G. (Pharmaceuticals) 15,400 2,433,545 Zurich Financial Services A.G. (Multi-Line Insurance) (b)(c) 28,950 6,340,188 ------------ 29,399,117 ============ TAIWAN--0.63% Taiwan Semiconductor Manufacturing Co. Ltd. -ADR (Semiconductors) 190,009 2,052,097 UNITED KINGDOM--26.48% Anglo American PLC (Diversified Metals & Mining) 118,700 4,561,470 BAA PLC (Airport Services) (b) 362,800 4,035,945 BAE Systems PLC (Aerospace & Defense) (b) 1,134,300 8,418,261 Boots Group PLC (Drug Retail) (a)(b) 271,600 3,074,044 BP PLC (Integrated Oil & Gas) (b) 247,600 2,982,996 Cadbury Schweppes PLC (Packaged Foods & Meats) (b) 358,700 3,524,369 Diageo PLC (Distillers & Vintners) 338,600 5,039,103 GlaxoSmithKline PLC (Pharmaceuticals) (b) 36,000 921,820 GlaxoSmithKline PLC-ADR (Pharmaceuticals) 163,400 8,372,616 HSBC Holdings PLC-ADR (Diversified Banks) (a) 54,600 4,541,628 Kingfisher PLC (Home Improvement Retail) (b) 1,175,800 4,969,001 Lloyds TSB Group PLC (Diversified Banks) (b) 710,000 6,460,982 Morrison (William) Supermarkets PLC (Food Retail) 1,485,700 4,942,801 Reed Elsevier PLC (Publishing) 622,000 5,864,981 Royal Bank of Scotland Group PLC (Diversified Banks) (b) 290,700 8,998,108 Royal Dutch Shell PLC-Class A-ADR (Integrated Oil & Gas) 48,450 3,299,930 Vodafone Group PLC (Wireless Telecommunication Services) (b) 2,978,000 6,254,248 ------------ 86,262,303 ============ Total Foreign Stocks & Other Equity Interests (Cost $239,340,248) 319,024,692
F-3
SHARES VALUE ---------- ------------ MONEY MARKET FUNDS--2.55% Premier Portfolio-Institutional Class (Cost $8,300,234) (h) 8,300,234 $ 8,300,234 ------------ TOTAL INVESTMENTS--100.50% (excluding investments purchased with cash collateral from securities loaned) (Cost $247,640,482) 327,324,926 ============ INVESTMENTS PURCHASED WITH CASH COLLATERAL FROM SECURITIES LOANED MONEY MARKET FUNDS--8.00% Premier Portfolio-Institutional Class (h)(i) 26,064,612 26,064,612 Total Money Market Funds (purchased with cash collateral from securities loaned) (Cost $26,064,612) 26,064,612 TOTAL INVESTMENTS--108.50% (Cost $273,705,094) 353,389,538 ============ OTHER ASSETS LESS LIABILITIES--(8.50%) (27,691,383) ------------ NET ASSETS--100.00% $325,698,155 ============
Investment Abbreviations: ADR American Depositary Receipt Rts. Rights Notes to Schedule of Investments: (a) All or a portion of this security has been pledged as collateral for securities lending transactions at January 31, 2006. (b) In accordance with the procedures established by the Board of Trustees, the foreign security is fair valued using adjusted closing market prices. The aggregate value of these securities at January 31, 2006 was $184,440,788, which represented 56.63% of the Fund's Net Assets. See Note 1A. (c) Non-income producing security. (d) In accordance with the procedures established by the Board of Trustees, this security is fair valued based on an evaluated quote provided by an independent pricing service. The aggregate value of these securities at January 31, 2006 was $7,112,713, which represented 2.18% of the Fund's Net Assets. See Note 1A. (e) Security considered to be illiquid. The Fund is limited to investing 15% of net assets in illiquid securities at the time of purchase. The value of this security considered illiquid at January 31, 2006 represented 0.00% of the Fund's Net Assets. (f) Non-income producing security acquired as part of a unit with or in exchange for other securities. (g) Security fair valued in good faith in accordance with the procedures established by the Board of Trustees. The value of this security at January 31, 2006 represented 0.00% of the Fund's Net Assets. See Note 1A. (h) The money market fund and the Fund are affiliated by having the same investment advisor. See Note 2. (i) The security has been segregated to satisfy the forward commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned. See Note 3. See accompanying notes which are an integral part this schedule. F-4 NOTES TO QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS January 31, 2006 (Unaudited) NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES A. SECURITY VALUATIONS - Securities, including restricted securities, are valued according to the following policy. A security listed or traded on an exchange (except convertible bonds) is valued at its last sales price as of the close of the customary trading session on the exchange where the security is principally traded, or lacking any sales on a particular day, the security is valued at the closing bid price on that day. Securities traded in the over-the-counter market (but not securities reported on the NASDAQ National Market System) are valued based on the prices furnished by independent pricing services, in which case the securities may be considered fair valued, or by market makers. Each security reported on the NASDAQ National Market System is valued at the NASDAQ Official Closing Price ("NOCP") as of the close of the customary trading session on the valuation date or absent a NOCP, at the closing bid price. Futures contracts are valued at the final settlement price set by an exchange on which they are principally traded. Listed options are valued at the mean between the last bid and the ask prices from the exchange on which they are principally traded. Options not listed on an exchange are valued by an independent source at the mean between the last bid and ask prices. For purposes of determining net asset value per share, futures and option contracts generally are valued 15 minutes after the close of the customary trading session of the New York Stock Exchange ("NYSE"). Investments in open-end registered investment companies and closed-end registered investment companies that do not trade on an exchange are valued at the end of day net asset value per share. Investments in closed-end registered investment companies that trade on an exchange are valued at the last sales price as of the close of the customary trading session on the exchange where the security is principally traded. Debt obligations (including convertible bonds) are fair valued using an evaluated quote provided by an independent pricing service. Evaluated quotes provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate, yield, quality, type of issue, coupon rate, maturity, individual trading characteristics and other market data. Short-term obligations having 60 days or less to maturity and commercial paper are recorded at amortized cost which approximates value. Securities for which market prices are not provided by any of the above methods are valued based upon quotes furnished by independent sources and are valued at the last bid price in the case of equity securities and in the case of debt obligations, the mean between the last bid and asked prices. Foreign securities (including foreign exchange contracts) are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the NYSE. Generally, trading in foreign securities is substantially completed each day at various times prior to the close of the NYSE. The values of such securities used in computing the net asset value of the Fund's shares are determined as of the close of the respective markets. Events affecting the values of such foreign securities may occur between the times at which the particular foreign market closes and the close of the customary trading session of the NYSE which would not ordinarily be reflected in the computation of the Fund's net asset value. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith using procedures approved by the Board of Trustees. Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities meeting the approved degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, ADRs and domestic and foreign index futures. Securities for which market quotations are not readily available or are unreliable are valued at fair value as determined in good faith by or under the supervision of the Trust's officers following procedures approved by the Board of Trustees. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value. F-5 B. SECURITIES TRANSACTIONS AND INVESTMENT INCOME - Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income is recorded on the accrual basis from settlement date. Dividend income is recorded on the ex-dividend date. Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the realized and unrealized net gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and Statement of Changes in Net Assets, or the net investment income per share and ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the advisor. The Fund allocates income and realized and unrealized capital gains and losses to a class based on the relative net assets of each class. C. COUNTRY DETERMINATION - For the purposes of making investment selection decisions and presentation in the Schedule of Investments, AIM may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuer's securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be United States of America unless otherwise noted. D. FOREIGN CURRENCY TRANSLATIONS - Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (i) sales of foreign currencies, (ii) currency gains or losses realized between the trade and settlement dates on securities transactions, and (iii) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates. E. FOREIGN CURRENCY CONTRACTS - A foreign currency contract is an obligation to purchase or sell a specific currency for an agreed-upon price at a future date. The Fund may enter into a foreign currency contract to attempt to minimize the risk to the Fund from adverse changes in the relationship between currencies. The Fund may also enter into a foreign currency contract for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security. The Fund could be exposed to risk if counterparties to the contracts are unable to meet the terms of their contracts or if the value of the foreign currency changes unfavorably. F-6 NOTE 2 - INVESTMENTS IN AFFILIATES The Fund is permitted, pursuant to an exemptive order from the Securities and Exchange Commission to invest daily available cash balances and cash collateral from securities lending transactions in affiliated money market funds. The Fund and the money market fund below have the same investment advisor and therefore, are considered to be affiliated. The tables below show the transactions in and earnings from investments in an affiliated money market fund for the three months ended January 31, 2006. INVESTMENTS OF DAILY AVAILABLE CASH BALANCES:
CHANGE IN UNREALIZED REALIZED VALUE PURCHASES PROCEEDS FROM APPRECIATION VALUE DIVIDEND GAIN FUND 10/31/05 AT COST SALES (DEPRECIATION) 01/31/06 INCOME (LOSS) - ---- ----------- ----------- ------------- -------------- ---------- -------- -------- Premier Portfolio- Institutional Class $10,682,350 $19,971,470 $(22,353,586) $-- $8,300,234 $123,456 $-- =========== =========== ============ === ========== ======== ===
INVESTMENTS OF CASH COLLATERAL FROM SECURITIES LENDING TRANSACTIONS:
CHANGE IN UNREALIZED REALIZED VALUE PURCHASES PROCEEDS FROM APPRECIATION VALUE DIVIDEND GAIN FUND 10/31/05 AT COST SALES (DEPRECIATION) 01/31/06 INCOME (LOSS) - ---- ----------- ----------- ------------- -------------- ----------- -------- -------- Premier Portfolio- Institutional Class $17,969,344 $33,146,344 $(25,051,076) $-- $26,064,612 $ 8,904 $-- ----------- ----------- ------------ --- ----------- -------- --- TOTAL $28,651,694 $53,117,814 $(47,404,662) $-- $34,364,846 $132,360 $-- =========== =========== ============ === =========== ======== ===
* Net of compensation to counterparties. NOTE 3 - PORTFOLIO SECURITIES LOANED The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated money market funds. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. Lending securities entails a risk of loss to the Fund if and to the extent that the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower fails to return the securities. The Fund could also experience delays and costs in gaining access to the collateral. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to a loss on the collateral invested. At January 31, 2006, securities with an aggregate value of $25,016,386 were on loan to brokers. The loans were secured by cash collateral of $26,064,612 received by the Fund and subsequently invested in an affiliated money market fund. For the three months ended January 31, 2006, the Fund received dividends on cash collateral investments of $8,904 for securities lending transactions, which are net of compensation to counterparties. F-7 NOTE 4 - INVESTMENT SECURITIES The aggregate amount of investment securities (other than short-term securities and money market funds) purchased and sold by the Fund during the three months ended January 31, 2006 was $28,236,811 and $11,370,914, respectively. For interim reporting periods, the cost of investments for tax purposes includes reversals of certain tax items, such as, wash sales that have occurred since the prior fiscal year-end. UNREALIZED APPRECIATION (DEPRECIATION) OF INVESTMENT SECURITIES ON A TAX BASIS Aggregate unrealized appreciation of investment securities $79,247,790 Aggregate unrealized (depreciation) of investment securities (5,600,763) ----------- Net unrealized appreciation of investment securities $73,647,027 ===========
Cost of investments for tax purposes is $279,742,511. F-8 AIM INTERNATIONAL GROWTH FUND Quarterly Schedule of Portfolio Holdings o January 31, 2006 YOUR GOALS. OUR SOLUTIONS. [AIM INVESTMENTS LOGO APPEARS HERE] --Registered Trademark-- --Registered Trademark-- AIMinvestments.com IGR-QTR-1 1/06 A I M Advisors, Inc. SCHEDULE OF INVESTMENTS January 31, 2006 (Unaudited)
SHARES VALUE - ---------------------------------------------------------------------------------------------------------------------------- FOREIGN STOCKS & OTHER EQUITY INTERESTS--96.80% AUSTRALIA--2.50% BHP Billiton Ltd. (Diversified Metals & Mining) (a) 1,641,300 $ 32,360,718 - ---------------------------------------------------------------------------------------------------------------------------- Brambles Industries Ltd. (Diversified Commercial & Professional Services) (a)(b) 1,533,000 11,504,771 - ---------------------------------------------------------------------------------------------------------------------------- QBE Insurance Group Ltd. (Property & Casualty Insurance) (a) 877,500 12,833,756 ============================================================================================================================ 56,699,245 ============================================================================================================================ AUSTRIA--0.90% OMV A.G. (Integrated Oil & Gas) (a) 288,000 20,362,804 ============================================================================================================================ BELGIUM--2.65% InBev N.V. (Brewers) (a) 671,400 31,648,205 - ---------------------------------------------------------------------------------------------------------------------------- KBC Groep N.V. (Diversified Banks) (a) 282,700 28,403,510 ============================================================================================================================ 60,051,715 ============================================================================================================================ BRAZIL--1.35% Companhia de Bebidas das Americas-Pfd.-ADR (Brewers) (b) 393,700 16,125,952 - ---------------------------------------------------------------------------------------------------------------------------- Petroleo Brasileiro S.A.-Pfd.-ADR (Integrated Oil & Gas) 168,700 14,541,940 ============================================================================================================================ 30,667,892 ============================================================================================================================ CANADA--7.35% Canadian National Railway Co. (Railroads) 258,450 23,386,327 - ---------------------------------------------------------------------------------------------------------------------------- Canadian Natural Resources Ltd. (Oil & Gas Exploration & Production) 407,200 25,205,321 - ---------------------------------------------------------------------------------------------------------------------------- EnCana Corp. (Oil & Gas Exploration & Production) 456,300 22,715,844 - ---------------------------------------------------------------------------------------------------------------------------- Manulife Financial Corp. (Life & Health Insurance) 513,850 31,310,584 - ---------------------------------------------------------------------------------------------------------------------------- Power Corp. of Canada (Other Diversified Financial Services) (b) 498,500 14,049,651 - ---------------------------------------------------------------------------------------------------------------------------- Shoppers Drug Mart Corp. (Drug Retail) (c) 350,000 13,038,764 - ---------------------------------------------------------------------------------------------------------------------------- Shoppers Drug Mart Corp. (Drug Retail) (Acquired 11/18/03; Cost $1,278,061) (c)(d)(e) 59,900 2,231,491 - ---------------------------------------------------------------------------------------------------------------------------- Suncor Energy, Inc. (Integrated Oil & Gas) 432,800 34,598,920 ============================================================================================================================ 166,536,902 ============================================================================================================================ CHINA--0.89% Ping An Insurance (Group) Co. of China, Ltd.-Class H (Life & Health Insurance) 3,350,000 7,405,820 - ---------------------------------------------------------------------------------------------------------------------------- Shanghai Electric Group Co. Ltd.-Class H (Heavy Electrical Equipment) (c) 32,000,000 12,684,090 ============================================================================================================================ 20,089,910 ============================================================================================================================
IGR-QTR-1 F-1
SHARES VALUE - ---------------------------------------------------------------------------------------------------------------------------- FRANCE--12.79% AXA (Multi-Line Insurance) (a) 567,600 $ 19,247,945 - ---------------------------------------------------------------------------------------------------------------------------- BNP Paribas S.A. (Diversified Banks) 466,898 41,648,712 - ---------------------------------------------------------------------------------------------------------------------------- Bouygues S.A. (Wireless Telecommunication Services) (a)(b) 341,000 18,692,394 - ---------------------------------------------------------------------------------------------------------------------------- Pernod Ricard S.A. (Distillers & Vintners) (a) 127,638 23,738,346 - ---------------------------------------------------------------------------------------------------------------------------- Sanofi-Aventis (Pharmaceuticals) (a) 234,580 21,501,796 - ---------------------------------------------------------------------------------------------------------------------------- Societe Generale (Diversified Banks) 217,700 28,758,847 - ---------------------------------------------------------------------------------------------------------------------------- Technip S.A. (Oil & Gas Equipment & Services) (Acquired 12/16/04; Cost $7,585,547) (a)(e) 170,600 11,638,642 - ---------------------------------------------------------------------------------------------------------------------------- Technip S.A. (Oil & Gas Equipment & Services) (a) 9,700 661,752 - ---------------------------------------------------------------------------------------------------------------------------- Total S.A. (Integrated Oil & Gas) (a) 157,239 43,465,723 - ---------------------------------------------------------------------------------------------------------------------------- Veolia Environnement (Multi-Utilities) (a) 285,900 14,511,914 - ---------------------------------------------------------------------------------------------------------------------------- Vinci S.A. (Construction & Engineering) 437,960 40,743,951 - ---------------------------------------------------------------------------------------------------------------------------- Vivendi Universal S.A. (Movies & Entertainment) (a) 805,900 25,221,700 ============================================================================================================================ 289,831,722 ============================================================================================================================ GERMANY--6.01% Adidas-Salomon A.G. (Apparel, Accessories & Luxury Goods) (a) 114,650 23,995,976 - ---------------------------------------------------------------------------------------------------------------------------- Continental A.G. (Tires & Rubber) 140,900 13,715,985 - ---------------------------------------------------------------------------------------------------------------------------- Henkel KGaA-Pfd. (Household Products) (a)(b) 211,500 23,694,545 - ---------------------------------------------------------------------------------------------------------------------------- MAN A.G. (Industrial Machinery) (a) 310,400 17,835,829 - ---------------------------------------------------------------------------------------------------------------------------- Merck KGaA (Pharmaceuticals) (a)(b) 173,750 18,130,028 - ---------------------------------------------------------------------------------------------------------------------------- Porsche A.G.-Pfd. (Automobile Manufacturers) (b) 21,035 16,271,381 - ---------------------------------------------------------------------------------------------------------------------------- Puma A.G. Rudolf Dassler Sport (Footwear) 71,502 22,610,438 ============================================================================================================================ 136,254,182 ============================================================================================================================ GREECE--1.29% OPAP S.A. (Casinos & Gaming) (a) 777,800 29,200,350 ============================================================================================================================ HONG KONG--2.51% China Construction Bank-Class H (Diversified Banks) (Acquired 10/20/05; Cost $12,308,264) (c)(e) 40,230,000 15,816,635 - ---------------------------------------------------------------------------------------------------------------------------- Esprit Holdings Ltd. (Apparel Retail) (a) 1,744,000 15,177,319 - ---------------------------------------------------------------------------------------------------------------------------- Hutchison Whampoa Ltd. (Industrial Conglomerates) (a) 1,469,000 15,019,729 - ---------------------------------------------------------------------------------------------------------------------------- Sun Hung Kai Properties Ltd. (Real Estate Management & Development) 1,038,000 10,750,965 ============================================================================================================================ 56,764,648 ============================================================================================================================ HUNGARY--1.01% OTP Bank Rt. (Diversified Banks) 666,300 22,988,057 ============================================================================================================================ INDIA--2.55% Housing Development Finance Corp. Ltd. (Thrifts & Mortgage Finance) (a) 474,536 14,402,180 - ---------------------------------------------------------------------------------------------------------------------------- Infosys Technologies Ltd. (IT Consulting & Other Services) 499,288 32,584,695 - ---------------------------------------------------------------------------------------------------------------------------- Maruti Udyog Ltd. (Automobile Manufacturers) (a) 625,932 10,739,473 ============================================================================================================================ 57,726,348 ============================================================================================================================ INDONESIA--0.48% P.T. Telekomunikasi Indonesia Tbk-Series B (Integrated Telecommunication Services) (a) 16,000,000 10,898,094 ============================================================================================================================
IGR-QTR-1 F-2
SHARES VALUE - ---------------------------------------------------------------------------------------------------------------------------- IRELAND--2.64% Anglo Irish Bank Corp. PLC (Diversified Banks) 2,560,702 $ 40,425,155 - ---------------------------------------------------------------------------------------------------------------------------- CRH PLC (Construction Materials) (a) 622,411 19,296,750 ============================================================================================================================ 59,721,905 ============================================================================================================================ ISRAEL--0.78% Teva Pharmaceutical Industries Ltd.-ADR (Pharmaceuticals) (b) 415,100 17,695,713 ============================================================================================================================ ITALY--1.92% 3 IItalia S.p.A.-Rts. (d)(f)(g) 1,469 - - ---------------------------------------------------------------------------------------------------------------------------- Eni S.p.A. (Integrated Oil & Gas) (a) 1,436,749 43,589,332 ============================================================================================================================ 43,589,332 ============================================================================================================================ JAPAN--13.97% Astellas Pharma Inc. (Pharmaceuticals) (a) 581,000 23,998,523 - ---------------------------------------------------------------------------------------------------------------------------- Canon Inc. (Office Electronics) (a) 246,900 14,890,453 - ---------------------------------------------------------------------------------------------------------------------------- FANUC Ltd. (Industrial Machinery) 252,200 22,205,208 - ---------------------------------------------------------------------------------------------------------------------------- Hoya Corp. (Electronic Equipment Manufacturers) (a) 707,400 28,299,354 - ---------------------------------------------------------------------------------------------------------------------------- JSR Corp. (Specialty Chemicals) (a)(b) 742,500 22,052,822 - ---------------------------------------------------------------------------------------------------------------------------- Keyence Corp. (Electronic Equipment Manufacturers) (a) 75,300 20,618,254 - ---------------------------------------------------------------------------------------------------------------------------- Matsushita Electric Industrial Co., Ltd. (Consumer Electronics) (a) 527,000 11,464,950 - ---------------------------------------------------------------------------------------------------------------------------- Mizuho Financial Group, Inc. (Diversified Banks) (Acquired 10/24/05; Cost $9,401,000) (a)(e) 1,564 12,777,296 - ---------------------------------------------------------------------------------------------------------------------------- Nidec Corp. (Electronic Equipment Manufacturers) (a) 228,200 20,797,777 - ---------------------------------------------------------------------------------------------------------------------------- Nissan Motor Co., Ltd. (Automobile Manufacturers) (a) 876,900 9,840,461 - ---------------------------------------------------------------------------------------------------------------------------- Nitto Denko Corp. (Specialty Chemicals) (a) 231,700 19,578,612 - ---------------------------------------------------------------------------------------------------------------------------- ORIX Corp. (Consumer Finance) 64,000 16,555,721 - ---------------------------------------------------------------------------------------------------------------------------- SMC Corp. (Industrial Machinery) 79,300 12,145,928 - ---------------------------------------------------------------------------------------------------------------------------- Suzuki Motor Corp. (Automobile Manufacturers) (a) 680,000 13,836,010 - ---------------------------------------------------------------------------------------------------------------------------- Takeda Pharmaceutical Co. Ltd. (Pharmaceuticals) (a) 406,300 22,954,072 - ---------------------------------------------------------------------------------------------------------------------------- Toyota Motor Corp. (Automobile Manufacturers) 561,400 29,092,794 - ---------------------------------------------------------------------------------------------------------------------------- Yamaha Motor Co., Ltd. (Motorcycle Manufacturers) (a) 605,600 15,505,486 ============================================================================================================================ 316,613,721 ============================================================================================================================ MEXICO--2.38% America Movil S.A. de C.V.-Series L-ADR (Wireless Telecommunication Services) 721,200 24,326,076 - ---------------------------------------------------------------------------------------------------------------------------- Grupo Televisa, S.A.-ADR (Broadcasting & Cable TV) 128,900 10,769,595 - ---------------------------------------------------------------------------------------------------------------------------- Wal-Mart de Mexico S.A. de C.V.-Series V (Hypermarkets & Super Centers) 3,226,600 18,746,657 ============================================================================================================================ 53,842,328 ============================================================================================================================ NETHERLANDS--1.59% ING Groep N.V.-Dutch Ctfs. (Other Diversified Financial Services) (a) 420,300 15,012,391 - ---------------------------------------------------------------------------------------------------------------------------- Koninklijke (Royal) DSM N.V. (Specialty Chemicals) (a) 467,100 20,904,265 ============================================================================================================================ 35,916,656 ============================================================================================================================
IGR-QTR-1 F-3
SHARES VALUE - ---------------------------------------------------------------------------------------------------------------------------- RUSSIA--0.62% OAO LUKOIL-ADR (Integrated Oil & Gas) (a) 184,400 $ 14,132,810 ============================================================================================================================ SINGAPORE--1.20% DBS Group Holdings Ltd. (Diversified Banks) 1,136,000 11,485,358 - ---------------------------------------------------------------------------------------------------------------------------- Keppel Corp. Ltd. (Industrial Conglomerates) (a) 1,941,000 15,728,623 ============================================================================================================================ 27,213,981 ============================================================================================================================ SOUTH AFRICA--1.21% Standard Bank Group Ltd. (Diversified Banks) (a) 1,217,961 16,464,657 - ---------------------------------------------------------------------------------------------------------------------------- Telkom South Africa Ltd. (Integrated Telecommunication Services) 449,200 11,044,231 ============================================================================================================================ 27,508,888 ============================================================================================================================ SOUTH KOREA--3.85% Daewoo Shipbuilding & Marine Engineering Co., Ltd. (Construction & Farm Machinery & Heavy Trucks) 299,400 7,372,091 - ---------------------------------------------------------------------------------------------------------------------------- Hynix Semiconductor Inc. (Semiconductors) (a)(c) 337,930 12,978,209 - ---------------------------------------------------------------------------------------------------------------------------- Hyundai Motor Co. (Automobile Manufacturers) (a) 166,670 15,051,760 - ---------------------------------------------------------------------------------------------------------------------------- Kookmin Bank (Diversified Banks) (a) 203,130 16,186,310 - ---------------------------------------------------------------------------------------------------------------------------- Samsung Electronics Co., Ltd. (Semiconductors) (a) 46,690 35,685,176 ============================================================================================================================ 87,273,546 ============================================================================================================================ SPAIN--3.27% ACS, Actividades de Construccion y Servicios, S.A. (Construction & Engineering) (a) 515,900 17,967,365 - ---------------------------------------------------------------------------------------------------------------------------- Banco Santander Central Hispano S.A. (Diversified Banks) (a) 1,359,000 19,561,624 - ---------------------------------------------------------------------------------------------------------------------------- Grupo Ferrovial, S.A. (Construction & Engineering) (a) 208,100 16,273,220 - ---------------------------------------------------------------------------------------------------------------------------- Industria de Diseno Textil, S.A. (Apparel Retail) (a) 593,800 20,404,947 ============================================================================================================================ 74,207,156 ============================================================================================================================ SWEDEN--1.75% Atlas Copco A.B.-Class A (Industrial Machinery) 522,600 12,285,054 - ---------------------------------------------------------------------------------------------------------------------------- Swedish Match A.B. (Tobacco) (a) 798,700 10,069,957 - ---------------------------------------------------------------------------------------------------------------------------- Volvo A.B.-Class B (Construction & Farm Machinery & Heavy Trucks) (a) 354,700 17,385,257 ============================================================================================================================ 39,740,268 ============================================================================================================================ SWITZERLAND--8.39% Compagnie Financiere Richemont A.G.-Class A (Apparel, Accessories & Luxury Goods) (a)(h) 751,160 34,156,303 - ---------------------------------------------------------------------------------------------------------------------------- Credit Suisse Group (Diversified Capital Markets) (a) 391,000 22,864,850 - ---------------------------------------------------------------------------------------------------------------------------- Nestle S.A. (Packaged Foods & Meats) (a) 65,230 19,145,372 - ---------------------------------------------------------------------------------------------------------------------------- Roche Holding A.G. (Pharmaceuticals) 217,575 34,381,718 - ---------------------------------------------------------------------------------------------------------------------------- Syngenta A.G. (Fertilizers & Agricultural Chemicals) (a)(c) 311,990 39,769,728 - ---------------------------------------------------------------------------------------------------------------------------- UBS A.G. (Diversified Capital Markets) 366,898 39,895,816 ============================================================================================================================ 190,213,787 ============================================================================================================================
IGR-QTR-1 F-4
SHARES VALUE - ---------------------------------------------------------------------------------------------------------------------------- TAIWAN--1.84% Hon Hai Precision Industry Co., Ltd. (Electronic Manufacturing Services) (a) 2,991,450 $ 20,277,725 - ---------------------------------------------------------------------------------------------------------------------------- MediaTek Inc. (Semiconductors) (a) 875,000 8,833,671 - ---------------------------------------------------------------------------------------------------------------------------- Taiwan Semiconductor Manufacturing Co. Ltd. (Semiconductors) (a) 6,222,699 12,480,962 ============================================================================================================================ 41,592,358 ============================================================================================================================ TURKEY--0.73% Akbank T.A.S. (Diversified Banks) (a) 1,895,100 16,434,322 ============================================================================================================================ UNITED KINGDOM--8.38% Aviva PLC (Multi-Line Insurance) 1,592,840 20,417,685 - ---------------------------------------------------------------------------------------------------------------------------- Capita Group PLC (Human Resource & Employment Services) (a) 1,859,900 14,143,037 - ---------------------------------------------------------------------------------------------------------------------------- Enterprise Inns PLC (Restaurants) 1,039,600 17,089,864 - ---------------------------------------------------------------------------------------------------------------------------- Imperial Tobacco Group PLC (Tobacco) (a) 1,205,700 35,885,825 - ---------------------------------------------------------------------------------------------------------------------------- International Power PLC (Independent Power Producers & Energy Traders) (a) 3,807,100 18,378,951 - ---------------------------------------------------------------------------------------------------------------------------- Reckitt Benckiser PLC (Household Products) (a) 715,030 23,498,905 - ---------------------------------------------------------------------------------------------------------------------------- Shire PLC (Pharmaceuticals) 1,609,100 25,836,317 - ---------------------------------------------------------------------------------------------------------------------------- Tesco PLC (Food Retail) (a) 4,446,973 25,171,121 - ---------------------------------------------------------------------------------------------------------------------------- Vodafone Group PLC (Wireless Telecommunication Services) (a) 4,500,300 9,451,307 ============================================================================================================================ 189,873,012 ============================================================================================================================ Total Foreign Stocks & Other Equity Interests (Cost $1,284,951,812) 2,193,641,652 ____________________________________________________________________________________________________________________________ ============================================================================================================================ MONEY MARKET FUNDS--2.90% Liquid Assets Portfolio-Institutional Class (i) 32,791,358 32,791,358 - ---------------------------------------------------------------------------------------------------------------------------- STIC Prime Portfolio-Institutional Class (i) 32,791,358 32,791,358 ============================================================================================================================ Total Money Market Funds (Cost $65,582,716) 65,582,716 ============================================================================================================================ TOTAL INVESTMENTS--99.70% (excluding investments purchased with cash collateral from securities loaned) (Cost $1,350,534,528) 2,259,224,368 ____________________________________________________________________________________________________________________________ ============================================================================================================================ INVESTMENTS PURCHASED WITH CASH COLLATERAL FROM SECURITIES LOANED MONEY MARKET FUNDS--2.48% Liquid Assets Portfolio-Institutional Class (i)(j) 56,257,556 56,257,556 ============================================================================================================================ Total Money Market Funds (purchased with cash collateral from securities loaned) (Cost $56,257,556) 56,257,556 ____________________________________________________________________________________________________________________________ ============================================================================================================================ TOTAL INVESTMENTS--102.18% (Cost $1,406,792,084) 2,315,481,924 ____________________________________________________________________________________________________________________________ ============================================================================================================================ OTHER ASSETS LESS LIABILITIES--(2.18%) (49,358,442) ____________________________________________________________________________________________________________________________ ============================================================================================================================ NET ASSETS--100.00% $ 2,266,123,482 ____________________________________________________________________________________________________________________________ ============================================================================================================================
IGR-QTR-1 F-5 Investment Abbreviations: ADR American Depositary Receipt Pfd. Preferred Rts. Rights Ctfs. Certificates Notes to Schedule of Investments: (a) In accordance with the procedures established by the Board of Trustees, the foreign security is fair valued using adjusted closing market prices. The aggregate value of these securities at January 31, 2006 was $1,358,686,301, which represented 59.96% of the Fund's Net Assets. See Note 1A. (b) All or a portion of this security has been pledged as collateral for securities lending transactions at January 31, 2006. (c) Non-income producing security. (d) Security fair valued in good faith in accordance with the procedures established by the Board of Trustees. The aggregate value of these securities at January 31, 2006 was $2,231,491, which represented 0.10% of the Fund's Net Assets. See Note 1A. (e) Security not registered under the Securities Act of 1933, as amended (e.g., the security was purchased in a Rule 144A transaction or a Regulation D transaction). The security may be resold only pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The Fund has no rights to demand registration of these securities. The aggregate value of these securities at January 31, 2006 was $42,464,064, which represented 1.87% of the Fund's Net Assets. Unless otherwise indicated, these securities are not considered to be illiquid. (f) Non-income producing security acquired as part of a unit with or in exchange for other securities. (g) Security considered to be illiquid. The fund is limited to investing 15% in illiquid securities at the time of purchase. The value of this security considered illiquid at January 31, 2006 represented 0.00% of the Fund's Net Assets. (h) Each unit represents one A bearer share in the company and one bearer share participation certificate in Richemont S.A. (i) The money market fund and the Fund are affiliated by having the same investment advisor. See Note 2. (j) The security has been segregated to satisfy the forward commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned. See Note 3. See accompanying notes which are an integral part of this financial schedule. IGR-QTR-1 F-6 NOTES TO QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS January 31, 2006 (Unaudited) NOTE 1 -- SIGNIFICANT ACCOUNTING POLICIES A. SECURITY VALUATIONS -- Securities, including restricted securities, are valued according to the following policy. A security listed or traded on an exchange (except convertible bonds) is valued at its last sales price as of the close of the customary trading session on the exchange where the security is principally traded, or lacking any sales on a particular day, the security is valued at the closing bid price on that day. Securities traded in the over-the-counter market (but not securities reported on the NASDAQ National Market System) are valued based on the prices furnished by independent pricing services, in which case the securities may be considered fair valued, or by market makers. Each security reported on the NASDAQ National Market System is valued at the NASDAQ Official Closing Price ("NOCP") as of the close of the customary trading session on the valuation date or absent a NOCP, at the closing bid price. Futures contracts are valued at the final settlement price set by an exchange on which they are principally traded. Listed options are valued at the mean between the last bid and the ask prices from the exchange on which they are principally traded. Options not listed on an exchange are valued by an independent source at the mean between the last bid and ask prices. For purposes of determining net asset value per share, futures and option contracts generally are valued 15 minutes after the close of the customary trading session of the New York Stock Exchange ("NYSE"). Investments in open-end registered investment companies and closed-end registered investment companies that do not trade on an exchange are valued at the end of day net asset value per share. Investments in closed-end registered investment companies that trade on an exchange are valued at the last sales price as of the close of the customary trading session on the exchange where the security is principally traded. Debt obligations (including convertible bonds) are fair valued using an evaluated quote provided by an independent pricing service. Evaluated quotes provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate, yield, quality, type of issue, coupon rate, maturity, individual trading characteristics and other market data. Short-term obligations having 60 days or less to maturity and commercial paper are recorded at amortized cost which approximates value. Securities for which market prices are not provided by any of the above methods are valued based upon quotes furnished by independent sources and are valued at the last bid price in the case of equity securities and in the case of debt obligations, the mean between the last bid and asked prices. Foreign securities (including foreign exchange contracts) are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the NYSE. Generally, trading in foreign securities is substantially completed each day at various times prior to the close of the NYSE. The values of such securities used in computing the net asset value of the Fund's shares are determined as of the close of the respective markets. Events affecting the values of such foreign securities may occur between the times at which the particular foreign market closes and the close of the customary trading session of the NYSE which would not ordinarily be reflected in the computation of the Fund's net asset value. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith using procedures approved by the Board of Trustees. Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities meeting the approved degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, ADRs and domestic and foreign index futures. Securities for which market quotations are not readily available or are unreliable are valued at fair value as determined in good faith by or under the supervision of the Trust's officers following IGR-QTR-1 F-7 A. SECURITY VALUATIONS -- (CONTINUED) procedures approved by the Board of Trustees. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value. B. SECURITIES TRANSACTIONS AND INVESTMENT INCOME -- Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income is recorded on the accrual basis from settlement date. Dividend income is recorded on the ex-dividend date. Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the realized and unrealized net gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and Statement of Changes in Net Assets, or the net investment income per share and ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the advisor. The Fund allocates income and realized and unrealized capital gains and losses to a class based on the relative net assets of each class. C. COUNTRY DETERMINATION -- For the purposes of making investment selection decisions and presentation in the Schedule of Investments, AIM may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuer's securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be United States of America unless otherwise noted. D. FOREIGN CURRENCY TRANSLATIONS -- Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (i) sales of foreign currencies, (ii) currency gains or losses realized between the trade and settlement dates on securities transactions, and (iii) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates. E. FOREIGN CURRENCY CONTRACTS -- A foreign currency contract is an obligation to purchase or sell a specific currency for an agreed-upon price at a future date. The Fund may enter into a foreign currency contract to attempt to minimize the risk to the Fund from adverse changes in the relationship between IGR-QTR-1 F-8 E. FOREIGN CURRENCY CONTRACTS -- (CONTINUED) currencies. The Fund may also enter into a foreign currency contract for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security. The Fund could be exposed to risk if counterparties to the contracts are unable to meet the terms of their contracts or if the value of the foreign currency changes unfavorably. NOTE 2 -- INVESTMENTS IN AFFILIATES The Fund is permitted, pursuant to an exemptive order from the Securities and Exchange Commission to invest daily available cash balances and cash collateral from securities lending transactions in affiliated money market funds. The Fund and the money market funds below have the same investment advisor and therefore, are considered to be affiliated. The tables below show the transactions in and earnings from investments in affiliated money market funds for the three months ended January 31, 2006. INVESTMENTS OF DAILY AVAILABLE CASH BALANCES:
CHANGE IN PROCEEDS UNREALIZED VALUE PURCHASES FROM APPRECIATION VALUE DIVIDEND REALIZED FUND 10/31/05 AT COST SALES (DEPRECIATION) 01/31/06 INCOME GAIN (LOSS) - ------------------------------------------------------------------------------------------------------------------------------------ Liquid Assets Portfolio-Institutional Class $ 8,233,242 $ 96,166,511 $(71,608,395) $ -- $ 32,791,358 $ 266,528 $ -- - ------------------------------------------------------------------------------------------------------------------------------------ STIC Prime Portfolio-Institutional Class 8,233,242 96,166,511 (71,608,395) -- 32,791,358 266,675 -- ==================================================================================================================================== SUBTOTAL 16,466,484 $192,333,022 $(143,216,790) $ -- $ 65,582,716 $ 533,203 $ -- ____________________________________________________________________________________________________________________________________ ====================================================================================================================================
INVESTMENTS OF CASH COLLATERAL FROM SECURITIES LENDING TRANSACTIONS:
CHANGE IN PROCEEDS UNREALIZED VALUE PURCHASES FROM APPRECIATION VALUE DIVIDEND REALIZED FUND 10/31/05 AT COST SALES (DEPRECIATION) 01/31/06 INCOME* GAIN (LOSS) - ------------------------------------------------------------------------------------------------------------------------------------ Liquid Assets Portfolio-Institutional Class 80,692,180 $148,233,431 $(172,668,055) $ -- $ 56,257,556 $ 139,056 $ -- ==================================================================================================================================== TOTAL 97,158,664 $340,566,453 $(315,884,845) $ -- $121,840,272 $ 672,259 $ -- ____________________________________________________________________________________________________________________________________ ====================================================================================================================================
* Net of compensation to counterparties. NOTE 3 -- PORTFOLIO SECURITIES LOANED The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated money market funds. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. Lending securities entails a risk of loss to the Fund if and to the extent that the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower fails to return the securities. The Fund could also experience delays and costs in gaining access to the collateral. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to a loss on the collateral invested. IGR-QTR-1 F-9 NOTE 3 -- PORTFOLIO SECURITIES LOANED -- (CONTINUED) At January 31, 2006, securities with an aggregate value of $54,132,366 were on loan to brokers. The loans were secured by cash collateral of $56,257,556 received by the Fund and subsequently invested in an affiliated money market fund. For the three months ended January 31, 2006, the Fund received dividends on cash collateral investments of $139,056 for securities lending transactions, which are net of compensation to counterparties. NOTE 4 -- INVESTMENT SECURITIES The aggregate amount of investment securities (other than short-term securities and money market funds) purchased and sold by the Fund during the three months ended January 31, 2006 was $166,474,363 and $207,997,081 respectively. For interim reporting periods, the cost of investments for tax purposes includes reversals of certain tax items, such as, wash sales that have occurred since the prior fiscal year-end.
UNREALIZED APPRECIATION (DEPRECIATION) OF INVESTMENT SECURITIES ON A TAX BASIS - ------------------------------------------------------------------------------------------------ Aggregate unrealized appreciation of investment securities $ 903,759,536 - ------------------------------------------------------------------------------------------------ Aggregate unrealized (depreciation) of investment securities (477,328) ================================================================================================ Net unrealized appreciation of investment securities $ 903,282,208 ________________________________________________________________________________________________ ================================================================================================ Cost of investments for tax purposes is $1,412,199,716.
IGR-QTR-1 F-10 Item 2. Controls and Procedures. (a) As of March 21, 2006, an evaluation was performed under the supervision and with the participation of the officers of the Registrant, including the Principal Executive Officer ("PEO") and Principal Financial Officer ("PFO"), to assess the effectiveness of the Registrant's disclosure controls and procedures, as that term is defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended ("Act"). Based on that evaluation, the Registrant's officers, including the PEO and PFO, concluded that, as of March 21, 2006, the Registrant's disclosure controls and procedures were reasonably designed so as to ensure: (1) that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the time periods specified by the rules and forms of the Securities and Exchange Commission; and (2) that material information relating to the Registrant is made known to the PEO and PFO as appropriate to allow timely decisions regarding required disclosure. (b) There have been no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the Registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting. Item 3. Exhibits. Certifications of PEO and PFO as required by Rule 30a-2(a) under the Investment Company Act of 1940. 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: AIM International Mutual Funds By: /s/ ROBERT H. GRAHAM --------------------------------- Robert H. Graham Principal Executive Officer Date: March 31, 2006 Pursuant to the requirements of the Securities and Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated. By: /s/ ROBERT H. GRAHAM --------------------------------- Robert H. Graham Principal Executive Officer Date: March 31, 2006 By: /s/ SIDNEY M. DILGREN --------------------------------- Sidney M. Dilgren Principal Financial Officer Date: March 31, 2006 EXHIBIT INDEX Certifications of Principal Executive Officer ("PEO") and Principal Financial Officer ("PFO") as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended. EX-99.CERT 2 h33603exv99wcert.txt CERTIFICATIONS REQUIRED BY RULE 30A-2(A) I, Robert H. Graham, Principal Executive Officer, certify that: 1. I have reviewed this report on Form N-Q of AIM International Mutual Funds; 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 consolidating subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and (d) Disclosed in this report any change in this 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 trustees (or persons performing equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: March 31, 2006 /s/ ROBERT H. GRAHAM ---------------------------------------- Robert H. Graham, Principal Executive Officer I, Sidney M. Dilgren, Principal Financial Officer, certify that: 1. I have reviewed this report on Form N-Q of AIM International Mutual Funds; 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 consolidating subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and (d) Disclosed in this report any change in this 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 trustees (or persons performing equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: March 31, 2006 /s/ SIDNEY M. DILGREN ---------------------------------------- Sidney M. Dilgren, Principal Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----