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0001104659-09-042574.txt : 20090709
0001104659-09-042574.hdr.sgml : 20090709
20090709115148
ACCESSION NUMBER: 0001104659-09-042574
CONFORMED SUBMISSION TYPE: N-CSRS
PUBLIC DOCUMENT COUNT: 6
CONFORMED PERIOD OF REPORT: 20090430
FILED AS OF DATE: 20090709
DATE AS OF CHANGE: 20090709
EFFECTIVENESS DATE: 20090709
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: DIMENSIONAL EMERGING MARKETS VALUE FUND INC
CENTRAL INDEX KEY: 0000896163
IRS NUMBER: 000000000
STATE OF INCORPORATION: MD
FISCAL YEAR END: 1031
FILING VALUES:
FORM TYPE: N-CSRS
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-07440
FILM NUMBER: 09936444
BUSINESS ADDRESS:
STREET 1: 6300 BEE CAVE ROAD
STREET 2: BUILDING ONE
CITY: AUSTIN
STATE: TX
ZIP: 78746
BUSINESS PHONE: (512) 306-7400
MAIL ADDRESS:
STREET 1: 6300 BEE CAVE ROAD
STREET 2: BUILDING ONE
CITY: AUSTIN
STATE: TX
ZIP: 78746
0000896163
S000001027
DIMENSIONAL EMERGING MARKETS VALUE FUND INC
C000002781
DIMENSIONAL EMERGING MARKETS VALUE FUND INC
N-CSRS
1
a09-10326_3ncsrs.htm
N-CSRS
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED
SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number
|
811-7440
|
|
DIMENSIONAL EMERGING MARKETS VALUE FUND
INC.
|
(Exact name of registrant as
specified in charter)
|
|
6300 Bee Cave Road, Building One, Austin,
TX
|
|
78746
|
(Address of principal executive
offices)
|
|
(Zip code)
|
|
Catherine L. Newell, Esquire, Vice
President and Secretary
Dimensional Emerging Markets Value Fund Inc.,
6300 Bee Cave Road, Building One, Austin, TX
78746
|
(Name and address of agent for
service)
|
|
Registrants telephone number, including
area code:
|
512-306-7400
|
|
|
Date of fiscal year end:
|
October 31
|
|
|
Date of reporting period:
|
November 1,
2008 April 30, 2009
|
|
|
|
|
|
|
|
|
|
|
ITEM
1. REPORTS TO STOCKHOLDERS.
DFA INVESTMENT DIMENSIONS GROUP INC.
Emerging Markets Value Portfolio
DIMENSIONAL EMERGING MARKETS
VALUE FUND INC.
Semi-Annual Report
Six Months Ended April 30, 2009
(Unaudited)
Dimensional Fund Advisors
6300 Bee Cave Road, Building One
Austin, TX 78746
May 2009
Dear Fellow Shareholder,
The past six months have been challenging for investors, with stock markets continuing to exhibit historically high volatility. After enduring significant losses in 2008, markets around the world continued to sell off early in the year, with some dropping by early March to lows not seen in over a decade. Since then, global markets have rallied strongly. During this period, ten of the 13 Dimensional equity mutual funds with a 15-year track record posted their highest two-month total return since inception.
Recent market performance illustrates that pulling money out of stocks, even for short periods of time, can result in significant missed opportunities. No one can predict whether the recent rally signals a sustained recovery, but over time we can still expect markets to offer a premium to investors who are willing to invest in relatively risky assets such as stocks.
The current market environment illustrates the reason why Dimensional believes that markets are efficient. History has shown time and again that prices cannot be predicted in public equity markets. This "random walk" makes diversification very important. Although the broad diversification in our portfolios didn't prevent negative performance over the past six months, the positive results produced in some markets demonstrate the importance of maintaining broad, global asset class exposure.
The unpredictability of stock prices also makes it important for investors to take a hard look at their own portfolios and determine how much risk and what types of risk they should take. Investors who base their approach on a sensible risk/return framework and who hold asset mixes that reflect their risk tolerance are better able to withstand down markets and are better positioned to participate when markets rise.
All of us at Dimensional take our job as the steward of your assets very seriously and hope to have the opportunity to serve you for many years to come.
Sincerely,
David G. Booth
Chairman and Chief Executive Officer
[THIS PAGE INTENTIONALLY LEFT BLANK]
SEMI-ANNUAL REPORT
(Unaudited)
Table of Contents
Letter to Shareholders |
|
Page |
|
Definitions of Abbreviations and Footnotes |
|
|
1 |
|
|
|
DFA Investment Dimensions Group Inc. Emerging Markets Value Portfolio |
|
|
Disclosure of Fund Expenses |
|
|
2 |
|
|
|
Disclosure of Portfolio Holdings |
|
|
3 |
|
|
|
Statement of Assets and Liabilities |
|
|
4 |
|
|
|
Statement of Operations |
|
|
5 |
|
|
|
Statements of Changes in Net Assets |
|
|
6 |
|
|
|
Financial Highlights |
|
|
7 |
|
|
|
Notes to Financial Statements |
|
|
9 |
|
|
|
Dimensional Emerging Markets Value Fund Inc. |
|
|
Disclosure of Fund Expenses |
|
|
14 |
|
|
|
Disclosure of Portfolio Holdings |
|
|
15 |
|
|
|
Summary Schedule of Portfolio Holdings |
|
|
16 |
|
|
|
Statement of Assets and Liabilities |
|
|
20 |
|
|
|
Statement of Operations |
|
|
21 |
|
|
|
Statements of Changes in Net Assets |
|
|
22 |
|
|
|
Financial Highlights |
|
|
23 |
|
|
|
Notes to Financial Statements |
|
|
24 |
|
|
|
Voting Proxies on Fund Portfolio Securities |
|
|
31 |
|
|
|
Board Approval of Investment Advisory Agreement |
|
|
32 |
|
|
|
This report is submitted for the information of the Fund's shareholders. It is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus. |
|
|
i
[THIS PAGE INTENTIONALLY LEFT BLANK]
DFA INVESTMENT DIMENSIONS GROUP INC.
DIMENSIONAL EMERGING MARKETS VALUE FUND INC.
DEFINITIONS OF ABBREVIATIONS AND FOOTNOTES
Statement of Assets and Liabilities/Summary Schedule of Portfolio Holdings
Investment Abbreviations
ADR American Depositary Receipt
FHLMC Federal Home Loan Mortgage Corporation
Investment Footnotes
See Note B to Financial Statements.
Securities have generally been fair valued. See Note B to Financial Statements.
** Calculated as a percentage of total net assets. Percentages shown parenthetically next to the category headings have been calculated as a percentage of total investments. "Other Securities" are those securities that are not among the top 50 holdings of the fund or do not represent more than 1.0% of the net assets of the fund. Some of the individual securities within this category may include Total or Partial Securities on Loan and/or Non-Income Producing Securities.
* Non-Income Producing Securities.
# Total or Partial Securities on Loan.
@ Security purchased with cash proceeds from Securities on Loan.
(r) The adjustable rate shown is effective as of April 30, 2009.
§ Affiliated Fund.
Financial Highlights
(A) Computed using average shares outstanding.
(B) Annualized
(C) Non-Annualized
(D) Represents the combined ratios for the respective portfolio and its respective pro-rata share of its Master Fund (Affiliated Investment Company).
(E) Because of commencement of operations and related preliminary transaction costs, these ratios are not necessarily indicative of future ratios.
All Statements and Schedules
Amounts designated as are either zero or rounded to zero.
SEC Securities and Exchange Commission
(a) Commencement of Operations.
1
DFA INVESTMENT DIMENSIONS GROUP INC.
EMERGING MARKETS VALUE PORTFOLIO
DISCLOSURE OF FUND EXPENSES
(Unaudited)
The following Expense Table is shown so that you can understand the impact of fees on your investment. All mutual funds have operating expenses. As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports, among others. Operating expenses, legal and audit services, which are deducted from a fund's gross income, directly reduce the investment return of the fund. A fund's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs, in dollars, of investing in the fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.
The Expense Table below illustrates your fund's costs in two ways.
Actual Fund Return
This section helps you to estimate the actual expenses after fee waivers that you paid over the period. The "Ending Account Value" shown is derived from the fund's actual return and "Expenses Paid During Period" reflect the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.
To do so, simply divide your account value by $1,000 (for example, a $7,500 account value divided by $1,000 = 7.5), then multiply the result by the number given for your fund under the heading "Expenses Paid During Period."
Hypothetical Example for Comparison Purposes
This section is intended to help you compare your fund's costs with those of other mutual funds. The hypothetical "Ending Account Value" and "Expenses Paid During Period" are derived from the fund's actual expense ratio and an assumed 5% annual return before expenses. In this case, because the return used is not the fund's actual return, the results do not apply to your investment. The example is useful in making comparisons because the SEC requires all mutual funds to calculate expenses based on a 5% annual return. You can assess your fund's cost by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.
Please note that the expenses shown in the table are meant to highlight and help you compare ongoing costs only and do not reflect any transactional costs, if applicable. The "Annualized Expense Ratio" represents the actual expenses for the six-month period indicated.
Six Months Ended April 30, 2009
EXPENSE TABLE
|
|
Beginning Account Value 11/01/08 |
|
Ending Account Value 04/30/09 |
|
Annualized Expense Ratio* |
|
Expenses Paid During Period* |
|
Actual Fund Return |
|
Class R2 Shares |
|
$ |
1,000.00 |
|
|
$ |
1,211.50 |
|
|
|
0.90 |
% |
|
$ |
4.93 |
|
|
Institutional Class Shares |
|
$ |
1,000.00 |
|
|
$ |
1,211.50 |
|
|
|
0.61 |
% |
|
$ |
3.34 |
|
|
Hypothetical 5% Annual Return |
|
Class R2 Shares |
|
$ |
1,000.00 |
|
|
$ |
1,020.33 |
|
|
|
0.90 |
% |
|
$ |
4.51 |
|
|
Institutional Class Shares |
|
$ |
1,000.00 |
|
|
$ |
1,021.77 |
|
|
|
0.61 |
% |
|
$ |
3.06 |
|
|
* Expenses are equal to the fund's annualized expense ratio for the six-month period, multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period (181), then divided by the number of days in the year (365) to reflect the six-month period. The Portfolio is a Feeder Fund. The expenses shown reflect the direct expenses of the Feeder Fund and the indirect payment of the Feeder Fund's portion of the expenses of its Master Fund (Affiliated Investment Company).
2
DFA INVESTMENT DIMENSIONS GROUP INC.
EMERGING MARKETS VALUE PORTFOLIO
DISCLOSURE OF PORTFOLIO HOLDINGS
(Unaudited)
The SEC requires that all Funds file a complete Schedule of Investments with the SEC for their first and third fiscal quarters on Form N-Q. For DFA Investment Dimensions Group Inc., this would be for the fiscal quarters ending January 31 and July 31. The Form N-Q filing must be made within 60 days of the end of the quarter. DFA Investment Dimensions Group Inc. filed its most recent Form N-Q with the SEC on April 1, 2009. It is available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room).
PORTFOLIO HOLDINGS
The SEC requires that all Funds present their categories of portfolio holdings in a table, chart or graph format in their annual and semi-annual shareholder reports, whether or not a Schedule of Investments is utilized. The following table, which presents portfolio holdings as a percent of total investments before short-term investments and collateral for loaned securities, is provided in compliance with such requirement.
The categories of industry classification for the Affiliated Investment Company is represented in the Disclosure of Portfolio Holdings, which is included elsewhere within the report. Refer to the Summary Schedule of Portfolio Holdings for the underlying Master Fund's holdings which reflects the investments by country.
Affiliated Investment Company |
|
|
100.0 |
% |
|
3
DFA INVESTMENT DIMENSIONS GROUP INC.
EMERGING MARKETS VALUE PORTFOLIO
STATEMENT OF ASSETS AND LIABILITIES
APRIL 30, 2009
(Unaudited)
(Amounts in thousands, except share and per share amounts)
ASSETS: |
|
Investment in Dimensional Emerging Markets Value Fund Inc. (Affiliated Investment Company) (146,538,610 Shares) at Value |
|
$ |
4,643,809 |
|
|
Receivables: |
|
Fund Shares Sold |
|
|
9,724 |
|
|
Prepaid Expenses and Other Assets |
|
|
112 |
|
|
Total Assets |
|
|
4,653,645 |
|
|
LIABILITIES: |
|
Payables: |
|
Affiliated Investment Company Shares Purchased |
|
|
8,084 |
|
|
Fund Shares Redeemed |
|
|
1,640 |
|
|
Due to Advisor |
|
|
1,451 |
|
|
Accrued Expenses and Other Liabilities |
|
|
254 |
|
|
Total Liabilities |
|
|
11,429 |
|
|
NET ASSETS |
|
$ |
4,642,216 |
|
|
NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: |
|
Class R2 Shares based on net assets of $4,098 and shares outstanding of 2,194,206 |
|
$ |
1.87 |
|
|
NUMBER OF SHARES AUTHORIZED |
|
|
25,000,000 |
|
|
Institutional Class Shares based on net assets of $4,638,118 and shares outstanding of 234,523,899 |
|
$ |
19.78 |
|
|
NUMBER OF SHARES AUTHORIZED |
|
|
500,000,000 |
|
|
Investment at Cost |
|
$ |
4,927,442 |
|
|
NET ASSETS CONSIST OF: |
|
Paid-In Capital |
|
$ |
5,589,632 |
|
|
Undistributed Net Investment Income (Distributions in Excess of Net Investment Income) |
|
|
(2,864 |
) |
|
Accumulated Net Realized Gain (Loss) |
|
|
(660,919 |
) |
|
Net Unrealized Appreciation (Depreciation) |
|
|
(283,633 |
) |
|
NET ASSETS |
|
$ |
4,642,216 |
|
|
See accompanying Notes to Financial Statements.
4
DFA INVESTMENT DIMENSIONS GROUP INC.
EMERGING MARKETS VALUE PORTFOLIO
STATEMENT OF OPERATIONS
FOR THE SIX MONTHS ENDED APRIL 30, 2009
(Unaudited)
(Amounts in thousands)
Investment Income |
|
Income Distributions Received from Affiliated Investment Company |
|
$ |
20,327 |
|
|
Expenses |
|
Administrative Services Fees |
|
|
7,418 |
|
|
Accounting & Transfer Agent Fees |
|
|
46 |
|
|
Filing Fees |
|
|
41 |
|
|
Shareholder Servicing Fees Class R2 Shares |
|
|
3 |
|
|
Shareholders' Reports |
|
|
103 |
|
|
Directors'/Trustees' Fees & Expenses |
|
|
22 |
|
|
Professional Fees |
|
|
41 |
|
|
Other |
|
|
32 |
|
|
Total Expenses |
|
|
7,706 |
|
|
Net Investment Income (Loss) |
|
|
12,621 |
|
|
Realized and Unrealized Gain (Loss) |
|
Net Realized Gain (Loss) on Affiliated Investment Company Shares Sold |
|
|
(446,720 |
) |
|
Change in Unrealized Appreciation (Depreciation) of Affiliated Investment Company Shares |
|
|
1,221,013 |
|
|
Net Realized and Unrealized Gain (Loss) |
|
|
774,293 |
|
|
Net Increase (Decrease) in Net Assets Resulting from Operations |
|
$ |
786,914 |
|
|
See accompanying Notes to Financial Statements.
5
DFA INVESTMENT DIMENSIONS GROUP INC.
EMERGING MARKETS VALUE PORTFOLIO
STATEMENTS OF CHANGES IN NET ASSETS
(Amounts in thousands)
|
|
Six Months Ended April 30, 2009 |
|
Period Dec. 1, 2007 to Oct. 31, 2008 |
|
Year Ended Nov. 30, 2007 |
|
|
|
(Unaudited) |
|
|
|
|
|
Increase (Decrease) in Net Assets |
|
Operations: |
|
Net Investment Income (Loss) |
|
$ |
12,621 |
|
|
$ |
179,045 |
|
|
$ |
119,722 |
|
|
Capital Gain Distributions Received from Affiliated Investment Company |
|
|
|
|
|
|
603,223 |
|
|
|
170,231 |
|
|
Net Realized Gain (Loss) on Affiliated Investment Company Shares Sold |
|
|
(446,720 |
) |
|
|
(172,002 |
) |
|
|
(6,781 |
) |
|
Change in Unrealized Appreciation (Depreciation) of Affiliated Investment Company Shares |
|
|
1,221,013 |
|
|
|
(5,226,480 |
) |
|
|
2,124,572 |
|
|
Net Increase (Decrease) in Net Assets Resulting from Operations |
|
|
786,914 |
|
|
|
(4,616,214 |
) |
|
|
2,407,744 |
|
|
Distributions From: |
|
Net Investment Income: |
|
Class R2 Shares |
|
|
(57 |
) |
|
|
(115 |
) |
|
|
|
|
|
Institutional Class Shares |
|
|
(21,900 |
) |
|
|
(181,885 |
) |
|
|
(96,479 |
) |
|
Net Short-Term Gains: |
|
Class R2 Shares |
|
|
(76 |
) |
|
|
|
|
|
|
|
|
|
Institutional Class Shares |
|
|
(36,974 |
) |
|
|
(13,134 |
) |
|
|
(8,058 |
) |
|
Net Long-Term Gains: |
|
Class R2 Shares |
|
|
(1,070 |
) |
|
|
|
|
|
|
|
|
|
Institutional Class Shares |
|
|
(517,440 |
) |
|
|
(155,738 |
) |
|
|
(44,751 |
) |
|
Total Distributions |
|
|
(577,517 |
) |
|
|
(350,872 |
) |
|
|
(149,288 |
) |
|
Capital Share Transactions: |
|
Shares Issued |
|
|
773,122 |
|
|
|
2,280,870 |
|
|
|
1,777,388 |
|
|
Shares Issued in Lieu of Cash Distributions |
|
|
524,986 |
|
|
|
306,474 |
|
|
|
124,212 |
|
|
Shares Redeemed |
|
|
(602,668 |
) |
|
|
(1,368,681 |
) |
|
|
(957,950 |
) |
|
Net Increase (Decrease) from Capital Share Transactions |
|
|
695,440 |
|
|
|
1,218,663 |
|
|
|
943,650 |
|
|
Total Increase (Decrease) in Net Assets |
|
|
904,837 |
|
|
|
(3,748,423 |
) |
|
|
3,202,106 |
|
|
Net Assets |
|
Beginning of Period |
|
|
3,737,379 |
|
|
|
7,485,802 |
|
|
|
4,283,696 |
|
|
End of Period |
|
$ |
4,642,216 |
|
|
$ |
3,737,379 |
|
|
$ |
7,485,802 |
|
|
Undistributed Net Investment Income (Distributions in Excess of Net Investment Income) |
|
$ |
(2,864 |
) |
|
$ |
6,472 |
|
|
$ |
22,447 |
|
|
See accompanying Notes to Financial Statements.
6
DFA INVESTMENT DIMENSIONS GROUP INC.
EMERGING MARKETS VALUE PORTFOLIO
FINANCIAL HIGHLIGHTS
(for a share outstanding throughout the period)
|
|
Class R2 Shares |
|
|
|
Six Months Ended April 30, 2009 |
|
Period Jan. 29, 2008(a) to Oct. 31, 2008 |
|
|
|
|
(Unaudited) |
|
|
|
|
|
|
Net Asset Value, Beginning of Period |
|
$ |
4.56 |
|
|
$ |
10.00 |
|
|
Income from Investment Operations |
|
Net Investment Income (Loss) |
|
|
|
(A) |
|
|
0.21 |
(A) |
|
Net Gains (Losses) (Realized and Unrealized) |
|
|
0.31 |
|
|
|
(4.93 |
) |
|
Total from Investment Operations |
|
|
0.31 |
|
|
|
(4.72 |
) |
|
Less Distributions |
|
Net Investment Income |
|
|
(0.09 |
) |
|
|
(0.72 |
) |
|
Net Realized Gains |
|
|
(2.91 |
) |
|
|
|
|
|
Total Distributions |
|
|
(3.00 |
) |
|
|
(0.72 |
) |
|
Net Asset Value, End of Period |
|
$ |
1.87 |
|
|
$ |
4.56 |
|
|
Total Return |
|
|
21.15 |
%(C) |
|
|
(50.51 |
)%(C) |
|
Net Assets, End of Period (thousands) |
|
$ |
4,098 |
|
|
$ |
1,799 |
|
|
Ratio of Expenses to Average Net Assets (D) |
|
|
0.90 |
%(B) |
|
|
0.92 |
%(B)(E) |
|
Ratio of Net Investment Income to Average Net Assets |
|
|
0.33 |
%(B) |
|
|
3.35 |
%(B)(E) |
|
See page 1 for the Definitions of Abbreviations and Footnotes.
See accompanying Notes to Financial Statements.
7
DFA INVESTMENT DIMENSIONS GROUP INC.
EMERGING MARKETS VALUE PORTFOLIO
FINANCIAL HIGHLIGHTS
(for a share outstanding throughout each period)
|
|
Institutional Class Shares |
|
|
|
Six Months Ended April 30, 2009 |
|
Period Dec. 1, 2007 to Oct. 31, 2008 |
|
Year Ended Nov. 30, 2007 |
|
Year Ended Nov. 30, 2006 |
|
Year Ended Nov. 30, 2005 |
|
Year Ended Nov. 30, 2004 |
|
Year Ended Nov. 30, 2003 |
|
|
|
|
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Asset Value, Beginning of Period |
|
$ |
19.36 |
|
|
$ |
45.85 |
|
|
$ |
31.26 |
|
|
$ |
22.86 |
|
|
$ |
17.93 |
|
|
$ |
12.53 |
|
|
$ |
8.42 |
|
|
Income from Investment Operations |
|
Net Investment Income (Loss) |
|
|
0.06 |
(A) |
|
|
0.98 |
(A) |
|
|
0.78 |
(A) |
|
|
0.60 |
(A) |
|
|
0.50 |
|
|
|
0.21 |
|
|
|
0.19 |
|
|
Net Gains (Losses) (Realized and Unrealized) |
|
|
3.38 |
|
|
|
(25.48 |
) |
|
|
14.82 |
|
|
|
8.65 |
|
|
|
4.96 |
|
|
|
5.54 |
|
|
|
4.13 |
|
|
Total from Investment Operations |
|
|
3.44 |
|
|
|
(24.50 |
) |
|
|
15.60 |
|
|
|
9.25 |
|
|
|
5.46 |
|
|
|
5.75 |
|
|
|
4.32 |
|
|
Less Distributions |
|
Net Investment Income |
|
|
(0.11 |
) |
|
|
(1.00 |
) |
|
|
(0.63 |
) |
|
|
(0.60 |
) |
|
|
(0.44 |
) |
|
|
(0.35 |
) |
|
|
(0.14 |
) |
|
Net Realized Gains |
|
|
(2.91 |
) |
|
|
(0.99 |
) |
|
|
(0.38 |
) |
|
|
(0.25 |
) |
|
|
(0.09 |
) |
|
|
|
|
|
|
(0.07 |
) |
|
Total Distributions |
|
|
(3.02 |
) |
|
|
(1.99 |
) |
|
|
(1.01 |
) |
|
|
(0.85 |
) |
|
|
(0.53 |
) |
|
|
(0.35 |
) |
|
|
(0.21 |
) |
|
Net Asset Value, End of Period |
|
$ |
19.78 |
|
|
$ |
19.36 |
|
|
$ |
45.85 |
|
|
$ |
31.26 |
|
|
$ |
22.86 |
|
|
$ |
17.93 |
|
|
$ |
12.53 |
|
|
Total Return |
|
|
21.15 |
%(C) |
|
|
(55.65 |
)%(C) |
|
|
50.98 |
% |
|
|
41.55 |
% |
|
|
31.06 |
% |
|
|
46.76 |
% |
|
|
52.59 |
% |
|
Net Assets, End of Period (thousands) |
|
$ |
4,638,118 |
|
|
$ |
3,735,580 |
|
|
$ |
7,485,802 |
|
|
$ |
4,283,696 |
|
|
$ |
2,077,480 |
|
|
$ |
895,313 |
|
|
$ |
403,035 |
|
|
Ratio of Expenses to Average Net Assets (D) |
|
|
0.61 |
%(B) |
|
|
0.60 |
%(B) |
|
|
0.60 |
% |
|
|
0.63 |
% |
|
|
0.70 |
% |
|
|
0.77 |
% |
|
|
0.86 |
% |
|
Ratio of Net Investment Income to Average Net Assets |
|
|
0.69 |
%(B) |
|
|
2.82 |
%(B) |
|
|
2.00 |
% |
|
|
2.22 |
% |
|
|
2.45 |
% |
|
|
1.37 |
% |
|
|
2.41 |
% |
|
See page 1 for the Definitions of Abbreviations and Footnotes.
See accompanying Notes to Financial Statements.
8
DFA INVESTMENT DIMENSIONS GROUP INC.
EMERGING MARKETS VALUE PORTFOLIO
NOTES TO FINANCIAL STATEMENTS
(Unaudited)
A. Organization:
DFA Investment Dimensions Group Inc. (the "Group") is an open-end management investment company whose shares are offered, without a sales charge, generally to institutional investors and clients of registered investment advisors. The Group offers fifty-seven operational portfolios, one of which, the Emerging Markets Value Portfolio (the "Portfolio") is included in this report. The remaining fifty-six portfolios are presented in separate reports.
The Portfolio primarily invests all of its assets in the Dimensional Emerging Markets Value Fund Inc. (the "Fund"). At April 30, 2009, the Portfolio owned 92% of the outstanding shares of the Fund. The financial statements of the Fund are included elsewhere in this report and should be read in conjunction with the financial statements of the Portfolio.
On January 29, 2008, Class R2 shares commenced operations. As of April 30, 2009, Class R1 has 25,000,000 authorized shares and has not commenced operations.
At a regular meeting of the Board of Directors/Trustees (the "Board") on September 16, 2008, the Board voted to change the fiscal and tax year ends of the Portfolio from November 30 to October 31.
B. Significant Accounting Policies:
The following significant accounting policies are in conformity with accounting principles generally accepted in the United States of America. Such policies are consistently followed by the Group in preparation of its financial statements. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates and those differences could be material.
1. Security Valuation: The shares of the Fund held by the Portfolio are valued at its respective daily net asset value.
Adoption of Statement of Financial Accounting Standards No. 157 "Fair Value Measurements" ("FAS 157")
Effective December 1, 2007, the Portfolio adopted Financial Accounting Standards No. 157. This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. The three levels of the fair value hierarchy under FAS 157 are described below:
Level 1 quoted prices in active markets for identical securities
Level 2 other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
Level 3 significant unobservable inputs (including the Portfolio's own assumptions in determining the fair value of investments)
9
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. A summary of the inputs used to value the Portfolio's net assets as of April 30, 2009 is listed below (in thousands).
|
|
Valuation Inputs |
|
|
|
Investments in Securities (Market Value) |
|
|
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
|
Emerging Markets Value Portfolio |
|
$ |
4,643,809 |
|
|
|
|
|
|
|
|
|
|
$ |
4,643,809 |
|
|
2. Deferred Compensation Plan: Each eligible Director of the Group may elect participation in the Deferred Compensation Plan (the "Plan"). Under the Plan, effective January 1, 2002, such Directors may defer payment of all or a portion of their total fees earned as a Director. These deferred amounts may be treated as though such amounts had been invested in shares of the following funds: U.S. Large Cap Value Portfolio; U.S. Core Equity 1 Portfolio; U.S. Core Equity 2 Portfolio; U.S. Vector Equity Portfolio; U.S. Micro Cap Portfolio; DFA International Value Portfolio; International Core Equity Portfolio; Emerging Markets Portfolio; Emerging Markets Core Equity Portfolio; and/or DFA Two-Year Global Fixed Income Portfolio. Contributions made under the Plan and the change in unrealized
appreciation (depreciation) and income, are included in Directors'/Trustees' Fees & Expenses. At April 30, 2009, the total liability for deferred compensation to Directors is included in Accrued Expenses and Other Liabilities in the amount of $96 (in thousands).
Each Director has the option to receive their distribution of proceeds in one of the following methods upon one year's notice: lump sum; annual installments over a period of agreed upon years; or semi-annual installments over a period of agreed upon years. As of April 30, 2009, none of the Directors have requested distribution of proceeds.
3. Other: Security transactions are accounted for as of the trade date. Costs used in determining realized gains and losses on the sale of affiliated investment company shares are on the basis of identified cost. Dividend income and distributions to shareholders are recorded on the ex-dividend date. Distributions received from the investment in affiliated investment company that represent a return of capital or capital gain are recorded as a reduction of cost of investments or as a realized gain, respectively. Expenses directly attributable to the Portfolio are directly charged. Common expenses of the Group are allocated using methods approved by the Board of Directors/Trustees, generally based on average net assets. Class R2 shares and Institutional Class shares have equal ri
ghts to assets and earnings of the Portfolio. Income, gains and losses on the sale of affiliated investment company shares, and common expenses of the Portfolio are allocated to each class of shares based on its relative net assets. Each class will bear its own class-specific expenses, if any.
C. Investment Advisor:
Dimensional Fund Advisors LP ("Dimensional" or the "Advisor") provides administrative services to the Portfolio, including supervision of services provided by others, providing information to the shareholders and the Board of Directors/Trustees, and other administrative services. The Advisor provides investment advisory services to the Fund. For the six months ended April 30, 2009, the Portfolio's administrative services fees were accrued daily and paid monthly to the Advisor based on an effective annual rate of 0.40% of average daily net assets.
Pursuant to the Expense Assumption Agreement for the Class R2 Shares of the Emerging Markets Value Portfolio, the Advisor has contractually agreed to assume the Portfolio's direct expenses (excluding management fees and custodian fees) to the extent necessary to limit the expenses of the Class R2 Shares of the Portfolio to 0.96% of its average net assets on an annualized basis. At any time that the annualized expenses of the Portfolio are less than 0.96% of its average net assets on an annualized basis, the Advisor retains the right to recover any fees previously waived and/or expenses previously assumed to the extent that such recovery will not cause the annualized expenses to exceed 0.96% of its average net assets on an annualized basis. The Portfolio is not obligated to reimburse the Advisor for fees previously waived or expenses previously assumed by the Advisor more than thirty-six
10
months before the date of such recovery. The Expense Assumption Agreement will remain in effect through March 1, 2010, and shall continue in effect from year to year thereafter, unless terminated by the Group or the Advisor. At April 30, 2009, there were no fees subject to future recovery by the Advisor.
Fees Paid to Officers and Directors/Trustees:
Certain Officers and Directors/Trustees of the Advisor are also Officers and Directors/Trustees of the Group; however, such Officers and Directors/Trustees (with the exception of the Chief Compliance Officer ("CCO")) receive no compensation from the Group. For the six months ended April 30, 2009, the total related amounts paid by the Group to the CCO were $94 (in thousands). The total related amount paid by the Portfolio is included in Other Expenses on the Statement of Operations.
D. Federal Income Taxes:
The Portfolio has qualified and intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code for federal income tax purposes and to distribute substantially all of its taxable income and net capital gains to shareholders. Accordingly, no provision has been made for federal income taxes.
Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from those amounts determined under accounting principles generally accepted in the United States of America. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent, they are charged or credited to paid-in capital, undistributed net investment income or accumulated net realized gains, as appropriate, in the period that the differences arise. Accordingly, the following permanent differences as of October 31, 2008, primarily attributable to the utilization of accumulated earnings and profits distributed to shareholders on redemptions of shares as part of the dividends paid deduction for income tax purposes, were reclassified to the following accounts. These reclassifications had no effect on net assets or net asset value per
share (amounts in thousands):
Increase (Decrease) Paid-In Capital |
|
Increase (Decrease) Undistributed Net Investment Income |
|
Increase (Decrease) Accumulated Net Realized Gains (Losses) |
|
$ |
53,750 |
|
|
$ |
(13,020 |
) |
|
$ |
(40,730 |
) |
|
The tax character of dividends and distributions declared and paid during the years ended November 30, 2006, November 30, 2007 and the period December 1, 2007 to October 31, 2008 were as follows (amounts in thousands):
|
|
Net Investment Income and Short-Term Capital Gains |
|
Long-Term Capital Gains |
|
Total |
|
|
2006 |
|
|
$ |
70,897 |
|
|
$ |
19,141 |
|
|
$ |
90,038 |
|
|
|
2007 |
|
|
|
110,158 |
|
|
|
51,893 |
|
|
|
162,051 |
|
|
|
2008 |
|
|
|
210,872 |
|
|
|
193,750 |
|
|
|
404,622 |
|
|
At October 31, 2008, the following net investment income and short-term capital gains and long-term capital gains distributions designated for federal income tax purposes are due to the utilization of accumulated earnings and profits distributed to shareholders upon redemption of shares (amounts in thousands):
Net Investment Income and Short-Term Capital Gains |
|
Long-Term Capital Gains |
|
Total |
|
$ |
15,738 |
|
|
$ |
38,012 |
|
|
$ |
53,750 |
|
|
11
At October 31, 2008, the components of distributable earnings/(accumulated losses) were as follows (amounts in thousands):
Undistributed Net Investment Income and Short-Term Capital Gains |
|
Undistributed Long-Term Capital Gains |
|
Total Net Distributable Earnings (Accumulated Losses) |
|
$ |
43,583 |
|
|
$ |
518,428 |
|
|
$ |
562,011 |
|
|
For federal income tax purposes, the Portfolio measures its capital loss carryforwards annually at October 31, 2008, its fiscal year end. Capital loss carryforwards may be carried forward and applied against future capital gains. As of October 31, 2008, the Portfolio had no capital loss carryforwards available to offset future realized capital gains.
At April 30, 2009, the total cost and aggregate gross unrealized appreciation and (depreciation) of securities for federal income tax purposes were different from amounts reported for financial reporting purposes (amounts in thousands):
Federal Tax Cost |
|
Unrealized Appreciation |
|
Unrealized (Depreciation) |
|
Net Unrealized Appreciation (Depreciation) |
|
$ |
5,599,270 |
|
|
|
|
|
|
$ |
(955,461 |
) |
|
$ |
(955,461 |
) |
|
In June 2006, the Financial Accounting Standards Board (FASB) issued FASB Interpretation 48 ("FIN 48"), "Accounting for Uncertainty in Income Taxes." This standard defines the threshold for recognizing the benefits of tax-return positions in the financial statements as "more-likely-than-not" to be sustained by the taxing authority and requires measurement of a tax position meeting the more-likely-than-not criterion, based on the largest benefit that is more than 50 percent likely to be realized. Management has analyzed the Portfolio's tax positions to be taken on the federal income tax returns for all open tax years (tax years ended November 30, 2005 through the period ended October 31, 2008), for purposes of implementing FIN 48, and has concluded that no provision for income tax is required in the P
ortfolio's financial statements.
E. Capital Share Transactions:
The capital share transactions by class were as follows (amounts in thousands):
|
|
Six Months Ended April 30, 2009 |
|
Period Dec. 1, 2007 to Oct. 31, 2008 |
|
Year Ended Nov. 30, 2007 |
|
|
|
Amount |
|
Shares |
|
Amount |
|
Shares |
|
Amount |
|
Shares |
|
Class R2 Shares* |
|
Shares Issued |
|
$ |
1,865 |
|
|
|
1,269 |
|
|
$ |
2,856 |
|
|
|
408 |
|
|
|
N/A |
|
|
|
N/A |
|
|
Shares Issued in Lieu of Cash Distributions |
|
|
1,204 |
|
|
|
779 |
|
|
|
115 |
|
|
|
14 |
|
|
|
N/A |
|
|
|
N/A |
|
|
Shares Redeemed |
|
|
(417 |
) |
|
|
(249 |
) |
|
|
(175 |
) |
|
|
(28 |
) |
|
|
N/A |
|
|
|
N/A |
|
|
Net Increase (Decrease) Class R2 Shares |
|
$ |
2,652 |
|
|
|
1,799 |
|
|
$ |
2,796 |
|
|
|
394 |
|
|
|
N/A |
|
|
|
N/A |
|
|
Institutional Class Shares |
|
Shares Issued |
|
$ |
771,257 |
|
|
|
46,045 |
|
|
$ |
2,278,014 |
|
|
|
60,725 |
|
|
$ |
1,777,388 |
|
|
|
46,560 |
|
|
Shares Issued in Lieu of Cash Distributions |
|
|
523,782 |
|
|
|
32,186 |
|
|
|
306,359 |
|
|
|
7,710 |
|
|
|
124,212 |
|
|
|
3,560 |
|
|
Shares Redeemed |
|
|
(602,251 |
) |
|
|
(36,616 |
) |
|
|
(1,368,506 |
) |
|
|
(38,791 |
) |
|
|
(957,950 |
) |
|
|
(23,900 |
) |
|
Net Increase (Decrease) Institutional Class Shares |
|
$ |
692,788 |
|
|
|
41,615 |
|
|
$ |
1,215,867 |
|
|
|
29,644 |
|
|
$ |
943,650 |
|
|
|
26,220 |
|
|
* Class R2 Shares commenced operations on January 29, 2008.
12
F. Line of Credit:
The Portfolio, together with other Dimensional-advised portfolios, has entered into a $250 million unsecured discretionary line of credit effective June 30, 2003 with an affiliate of its domestic custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $250 million, as long as total borrowings under the line of credit do not exceed $250 million in the aggregate. Borrowings under the line of credit are charged interest at the then current Federal Funds Rate plus 1%. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. There is no commitment fee on the unused portion of the line of credit. The agreement for the discretionary line of credit may be terminated by either party at any time. The line of credit is scheduled to expire on June 23, 2009. There were no borrowings by the Portfolio under this line of credit during the six months
ended April 30, 2009.
The Portfolio, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit effective January 15, 2009 with its international custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. Borrowings under the line of credit are charged interest at rates agreed to by the parties at the time of borrowing. There is no commitment fee on the unused portion of the line of credit. The agreement for the line of credit expires on January 15, 2010. There were no borrowings by the Portfolio under this line credit during the six months ended April 30, 2009.
G. Shareholder Servicing Fees:
The Class R2 Shares pay a shareholder servicing fee in the amount of 0.25% of their annual average net assets to compensate service agents that provide shareholder servicing, record keeping, account maintenance and other services to investors in the Emerging Markets Value Portfolio Class R2 Shares.
H. Indemnitees; Contractual Obligations:
Under the Group's organizational documents, its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the Group.
In the normal course of business, the Group enters into contracts that contain a variety of representations and warranties which provide general indemnification. The Group's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Group and/or its affiliates that have not yet occurred. However, based on experience, the Group expects the risk of loss to be remote.
I. Recently Issued Accounting Standards and Interpretation:
In March 2008, Statement of Financial Accounting Standards No. 161, Disclosures about Derivative Instruments and Hedging Activities ("FAS 161"), was issued and is effective for fiscal years beginning after November 15, 2008. FAS 161 defines new disclosures of derivative instruments and hedging activities. Management is currently evaluating the implications of FAS 161. At this time, its impact on the Portfolio's financial statements has not been determined.
In April 2009, FASB issued FASB Staff Position No. 157-4, Determining Fair Value when the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly ("FSP 157-4"). FSP 157-4 is effective for fiscal years and interim periods ending after June 15, 2009. FSP 157-4 provides additional guidance for estimating fair value in accordance with SFAS 157 (see Note 2A) when the volume and level of activity for the asset or liability have significantly decreased. FSP 157-4 also includes guidance on identifying circumstances that indicate a transaction is not orderly. FSP 157-4 requires entities to describe the inputs used in valuation techniques used to measure fair value and changes in inputs over the period. FSP 157-4 expands the
three-level hierarchy disclosure and the level three-roll forward disclosure for each major security type as described in paragraph 19 of FAS No. 115, Accounting for Certain Investments in Debt and Equity Securities. Management is currently evaluating the impact the implementation of FSP 157-4 will have on the Funds' financial statement disclosures, if any.
J. Other:
At April 30, 2009, three shareholders held approximately 90% of the outstanding shares of Class R2 Shares and two shareholders held 24% of the outstanding shares of the Institutional Class Shares of the Portfolio. One or more of the shareholders of the Institutional Class Shares is an omnibus account, which typically holds shares for the benefit of several other underlying investors.
13
DIMENSIONAL EMERGING MARKETS VALUE FUND INC.
DISCLOSURE OF FUND EXPENSES
(Unaudited)
The following Expense Table is shown so that you can understand the impact of fees on your investment. All mutual funds have operating expenses. As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports, among others. Operating expenses, legal and audit services, which are deducted from a fund's gross income, directly reduce the investment return of the fund. A fund's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs, in dollars, of investing in the fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.
The Expense Table below illustrates your fund's costs in two ways.
Actual Fund Return
This section helps you to estimate the actual expenses after fee waivers that you paid over the period. The "Ending Account Value" shown is derived from the fund's actual return and "Expenses Paid During Period" reflect the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.
To do so, simply divide your account value by $1,000 (for example, a $7,500 account value divided by $1,000 = 7.5), then multiply the result by the number given for your fund under the heading "Expenses Paid During Period."
Hypothetical Example for Comparison Purposes
This section is intended to help you compare your fund's costs with those of other mutual funds. The hypothetical "Ending Account Value" and "Expenses Paid During Period" are derived from the fund's actual expense ratio and an assumed 5% annual return before expenses. In this case, because the return used is not the fund's actual return, the results do not apply to your investment. The example is useful in making comparisons because the SEC requires all mutual funds to calculate expenses based on a 5% annual return. You can assess your fund's cost by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.
Please note that the expenses shown in the table are meant to highlight and help you compare ongoing costs only and do not reflect any transactional costs, if applicable. The "Annualized Expense Ratio" represents the actual expenses for the six-month period indicated.
Six Months Ended April 30, 2009
EXPENSE TABLE
|
|
Beginning Account Value 11/01/08 |
|
Ending Account Value 04/30/09 |
|
Annualized Expense Ratio* |
|
Expenses Paid During Period* |
|
Actual Fund Return |
|
$ |
1,000.00 |
|
|
$ |
1,214.40 |
|
|
|
0.19 |
% |
|
$ |
1.04 |
|
|
Hypothetical 5% Annual Return |
|
$ |
1,000.00 |
|
|
$ |
1,023.85 |
|
|
|
0.19 |
% |
|
$ |
0.95 |
|
|
* Expenses are equal to the fund's annualized expense ratio for the six-month period, multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period (181), then divided by the number of days in the year (365) to reflect the six-month period.
14
DIMENSIONAL EMERGING MARKETS VALUE FUND INC.
DISCLOSURE OF PORTFOLIO HOLDINGS
(Unaudited)
The SEC requires that all Funds file a complete Schedule of Investments with the SEC for their first and third fiscal quarters on Form N-Q. For Dimensional Emerging Markets Value Fund Inc., this would be for the fiscal quarters ending January 31 and July 31. The Form N-Q filing must be made within 60 days of the end of the quarter. Dimensional Emerging Markets Value Fund Inc. filed its most recent Form N-Q with the SEC on April 1, 2009. It is available upon request without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room).
SEC regulations permit a fund to include in its reports to shareholders a "Summary Schedule of Portfolio Holdings" in lieu of a full Schedule of Investments. The Summary Schedule of Portfolio Holdings reports the fund's 50 largest holdings in unaffiliated issuers and any investments that exceed one percent of the fund's net assets at the end of the reporting period. The amendments also require that the Summary Schedule of Portfolio Holdings identify each category of investments that are held.
The fund is required to file a complete Schedule of Investments with the SEC on Form N-CSR within ten days after mailing the annual and semi-annual reports to shareholders. It will be available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room).
PORTFOLIO HOLDINGS
The SEC requires that all Funds present their categories of portfolio holdings in a table, chart or graph format in their annual and semi-annual shareholder reports, whether or not a Schedule of Investments is utilized. The following table, which presents portfolio holdings as a percent of total investments before short-term investments and collateral for loaned securities, is provided in compliance with such requirement. The categories shown below represent broad industry sectors. Each industry sector consists of one or more specific industry classifications.
Consumer Discretionary |
|
Consumer Staples |
|
Energy |
|
Financials |
|
Health Care |
|
Industrials |
|
Information Technology |
|
Materials |
|
Telecommunication Services |
|
Utilities |
|
Other |
|
Total |
|
|
10.6 |
% |
|
|
6.3 |
% |
|
|
8.2 |
% |
|
|
26.3 |
% |
|
|
1.3 |
% |
|
|
12.4 |
% |
|
|
7.3 |
% |
|
|
22.7 |
% |
|
|
2.9 |
% |
|
|
1.9 |
% |
|
|
0.1 |
% |
|
|
100.0 |
% |
|
15
DIMENSIONAL EMERGING MARKETS VALUE FUND INC.
SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS
April 30, 2009
(Unaudited)
|
|
Shares |
|
Value |
|
Percentage of Net Assets** |
|
ARGENTINA (0.1%) |
|
COMMON STOCKS (0.1%) |
|
Other Securities |
|
|
|
|
|
$ |
8,532,374 |
|
|
|
0.2 |
% |
|
BRAZIL (8.0%) |
|
COMMON STOCKS (2.9%) |
|
* BM&F Bovespa SA |
|
|
7,418,300 |
|
|
|
30,500,788 |
|
|
|
0.6 |
% |
|
Other Securities |
|
|
|
|
|
|
135,494,586 |
|
|
|
2.7 |
% |
|
TOTAL COMMON STOCKS |
|
|
|
|
|
|
165,995,374 |
|
|
|
3.3 |
% |
|
PREFERRED STOCKS (5.1%) |
|
# Gerdau SA Sponsored ADR |
|
|
3,694,358 |
|
|
|
26,229,942 |
|
|
|
0.5 |
% |
|
Investimentos Itau SA |
|
|
6,589,068 |
|
|
|
28,175,005 |
|
|
|
0.6 |
% |
|
Metalurgica Gerdau SA |
|
|
4,022,600 |
|
|
|
38,187,089 |
|
|
|
0.8 |
% |
|
Usinas Siderurgicas de Minas Gerais SA Series A |
|
|
3,546,355 |
|
|
|
52,605,197 |
|
|
|
1.0 |
% |
|
Other Securities |
|
|
|
|
|
|
139,998,173 |
|
|
|
2.8 |
% |
|
TOTAL PREFERRED STOCKS |
|
|
|
|
|
|
285,195,406 |
|
|
|
5.7 |
% |
|
TOTAL BRAZIL |
|
|
|
|
|
|
451,190,780 |
|
|
|
9.0 |
% |
|
CHILE (2.5%) |
|
COMMON STOCKS (2.5%) |
|
Empresas CMPC SA |
|
|
1,083,372 |
|
|
|
24,190,808 |
|
|
|
0.5 |
% |
|
Enersis SA Sponsored ADR |
|
|
2,890,837 |
|
|
|
43,333,647 |
|
|
|
0.9 |
% |
|
Other Securities |
|
|
|
|
|
|
70,381,225 |
|
|
|
1.4 |
% |
|
TOTAL COMMON STOCKS |
|
|
|
|
|
|
137,905,680 |
|
|
|
2.8 |
% |
|
PREFERRED STOCKS (0.0%) |
|
Other Securities |
|
|
|
|
|
|
1,461,369 |
|
|
|
0.0 |
% |
|
RIGHTS/WARRANTS (0.0%) |
|
Other Securities |
|
|
|
|
|
|
602 |
|
|
|
0.0 |
% |
|
TOTAL CHILE |
|
|
|
|
|
|
139,367,651 |
|
|
|
2.8 |
% |
|
CHINA (11.0%) |
|
COMMON STOCKS (11.0%) |
|
# Bank of China, Ltd. |
|
|
88,608,000 |
|
|
|
32,853,674 |
|
|
|
0.7 |
% |
|
# Beijing Enterprises Holdings, Ltd. |
|
|
5,634,000 |
|
|
|
24,586,242 |
|
|
|
0.5 |
% |
|
# China Unicom Hong Kong, Ltd. ADR |
|
|
3,960,892 |
|
|
|
45,827,520 |
|
|
|
0.9 |
% |
|
CNPC Hong Kong, Ltd. |
|
|
41,130,000 |
|
|
|
20,302,117 |
|
|
|
0.4 |
% |
|
Denway Motors, Ltd. |
|
|
57,620,000 |
|
|
|
23,946,671 |
|
|
|
0.5 |
% |
|
Dongfeng Motor Corp. |
|
|
36,624,000 |
|
|
|
27,300,249 |
|
|
|
0.6 |
% |
|
Shanghai Industrial Holdings, Ltd. |
|
|
7,807,000 |
|
|
|
26,450,276 |
|
|
|
0.5 |
% |
|
Other Securities |
|
|
|
|
|
|
421,941,095 |
|
|
|
8.3 |
% |
|
TOTAL COMMON STOCKS |
|
|
|
|
|
|
623,207,844 |
|
|
|
12.4 |
% |
|
RIGHTS/WARRANTS (0.0%) |
|
Other Securities |
|
|
|
|
|
|
31,550 |
|
|
|
0.0 |
% |
|
TOTAL CHINA |
|
|
|
|
|
|
623,239,394 |
|
|
|
12.4 |
% |
|
CZECH REPUBLIC (0.4%) |
|
COMMON STOCKS (0.4%) |
|
Other Securities |
|
|
|
|
|
|
23,734,825 |
|
|
|
0.5 |
% |
|
16
DIMENSIONAL EMERGING MARKETS VALUE FUND INC.
CONTINUED
|
|
Shares |
|
Value |
|
Percentage of Net Assets** |
|
HUNGARY (1.5%) |
|
COMMON STOCKS (1.5%) |
|
# MOL Hungarian Oil & Gas NYRT |
|
|
900,693 |
|
|
$ |
42,912,990 |
|
|
|
0.9 |
% |
|
*# OTP Bank NYRT |
|
|
2,347,218 |
|
|
|
30,231,580 |
|
|
|
0.6 |
% |
|
Other Securities |
|
|
|
|
|
|
11,035,844 |
|
|
|
0.2 |
% |
|
TOTAL HUNGARY |
|
|
|
|
|
|
84,180,414 |
|
|
|
1.7 |
% |
|
INDIA (10.0%) |
|
COMMON STOCKS (10.0%) |
|
# ICICI Bank, Ltd. Sponsored ADR |
|
|
2,566,680 |
|
|
|
52,950,608 |
|
|
|
1.1 |
% |
|
Reliance Communications, Ltd. |
|
|
4,454,118 |
|
|
|
19,353,325 |
|
|
|
0.4 |
% |
|
Reliance Industries, Ltd. |
|
|
4,888,665 |
|
|
|
177,718,181 |
|
|
|
3.6 |
% |
|
Other Securities |
|
|
|
|
|
|
312,609,591 |
|
|
|
6.1 |
% |
|
TOTAL COMMON STOCKS |
|
|
|
|
|
|
562,631,705 |
|
|
|
11.2 |
% |
|
PREFERRED STOCKS (0.0%) |
|
Other Securities |
|
|
|
|
|
|
1,412,603 |
|
|
|
0.0 |
% |
|
TOTAL INDIA |
|
|
|
|
|
|
564,044,308 |
|
|
|
11.2 |
% |
|
INDONESIA (2.1%) |
|
COMMON STOCKS (2.1%) |
|
PT Semen Gresik Tbk |
|
|
52,474,410 |
|
|
|
20,114,498 |
|
|
|
0.4 |
% |
|
Other Securities |
|
|
|
|
|
|
100,149,287 |
|
|
|
2.0 |
% |
|
TOTAL INDONESIA |
|
|
|
|
|
|
120,263,785 |
|
|
|
2.4 |
% |
|
ISRAEL (2.5%) |
|
COMMON STOCKS (2.5%) |
|
* Bank Hapoalim B.M. |
|
|
13,638,154 |
|
|
|
31,063,362 |
|
|
|
0.6 |
% |
|
Bank Leumi Le-Israel B.M. |
|
|
12,542,791 |
|
|
|
31,351,542 |
|
|
|
0.6 |
% |
|
Other Securities |
|
|
|
|
|
|
78,886,773 |
|
|
|
1.6 |
% |
|
TOTAL ISRAEL |
|
|
|
|
|
|
141,301,677 |
|
|
|
2.8 |
% |
|
MALAYSIA (4.1%) |
|
COMMON STOCKS (4.1%) |
|
AMMB Holdings Berhad |
|
|
21,831,262 |
|
|
|
19,160,404 |
|
|
|
0.4 |
% |
|
PPB Group Berhad |
|
|
6,759,566 |
|
|
|
20,077,278 |
|
|
|
0.4 |
% |
|
Other Securities |
|
|
|
|
|
|
195,014,554 |
|
|
|
3.9 |
% |
|
TOTAL COMMON STOCKS |
|
|
|
|
|
|
234,252,236 |
|
|
|
4.7 |
% |
|
PREFERRED STOCKS (0.0%) |
|
Other Securities |
|
|
|
|
|
|
139,318 |
|
|
|
0.0 |
% |
|
RIGHTS/WARRANTS (0.0%) |
|
Other Securities |
|
|
|
|
|
|
193,462 |
|
|
|
0.0 |
% |
|
TOTAL MALAYSIA |
|
|
|
|
|
|
234,585,016 |
|
|
|
4.7 |
% |
|
MEXICO (5.9%) |
|
COMMON STOCKS (5.9%) |
|
# Cemex S.A.B. de C.V. Sponsored ADR |
|
|
9,036,518 |
|
|
|
67,593,155 |
|
|
|
1.4 |
% |
|
Fomento Economico Mexicano S.A.B. de C.V. Sponsored ADR |
|
|
1,411,458 |
|
|
|
39,958,376 |
|
|
|
0.8 |
% |
|
# Grupo Carso S.A.B. de C.V. Series A-1 |
|
|
10,678,493 |
|
|
|
27,674,669 |
|
|
|
0.6 |
% |
|
Grupo Financiero Inbursa S.A.B. de C.V. Series O |
|
|
8,374,133 |
|
|
|
22,442,628 |
|
|
|
0.5 |
% |
|
Grupo Mexico S.A.B. de C.V. Series B |
|
|
26,577,260 |
|
|
|
20,598,050 |
|
|
|
0.4 |
% |
|
*# Organizacion Soriana S.A.B. de C.V. Series B |
|
|
14,540,800 |
|
|
|
25,856,630 |
|
|
|
0.5 |
% |
|
Other Securities |
|
|
|
|
|
|
129,972,491 |
|
|
|
2.4 |
% |
|
TOTAL MEXICO |
|
|
|
|
|
|
334,095,999 |
|
|
|
6.6 |
% |
|
17
DIMENSIONAL EMERGING MARKETS VALUE FUND INC.
CONTINUED
|
|
Shares |
|
Value |
|
Percentage of Net Assets** |
|
PHILIPPINES (0.5%) |
|
COMMON STOCKS (0.5%) |
|
Other Securities |
|
|
|
|
|
$ |
29,510,570 |
|
|
|
0.6 |
% |
|
POLAND (2.3%) |
|
COMMON STOCKS (2.3%) |
|
KGHM Polska Miedz SA |
|
|
1,331,285 |
|
|
|
23,328,849 |
|
|
|
0.5 |
% |
|
Polski Koncern Naftowy Orlen SA |
|
|
5,310,008 |
|
|
|
41,757,460 |
|
|
|
0.8 |
% |
|
Other Securities |
|
|
|
|
|
|
62,890,100 |
|
|
|
1.2 |
% |
|
TOTAL POLAND |
|
|
|
|
|
|
127,976,409 |
|
|
|
2.5 |
% |
|
SOUTH AFRICA (10.3%) |
|
COMMON STOCKS (10.3%) |
|
# ABSA Group, Ltd. |
|
|
2,423,130 |
|
|
|
27,945,344 |
|
|
|
0.6 |
% |
|
ArcelorMittal South Africa, Ltd. |
|
|
2,008,265 |
|
|
|
18,717,342 |
|
|
|
0.4 |
% |
|
# Gold Fields, Ltd. Sponsored ADR |
|
|
5,386,450 |
|
|
|
56,019,080 |
|
|
|
1.1 |
% |
|
* Harmony Gold Mining Co., Ltd. |
|
|
2,941,322 |
|
|
|
27,381,990 |
|
|
|
0.6 |
% |
|
# Nedbank Group, Ltd. |
|
|
2,710,554 |
|
|
|
27,645,668 |
|
|
|
0.6 |
% |
|
Sanlam, Ltd. |
|
|
28,877,831 |
|
|
|
53,897,343 |
|
|
|
1.1 |
% |
|
Sasol, Ltd. Sponsored ADR |
|
|
708,659 |
|
|
|
21,337,722 |
|
|
|
0.4 |
% |
|
Other Securities |
|
|
|
|
|
|
351,931,611 |
|
|
|
6.8 |
% |
|
TOTAL SOUTH AFRICA |
|
|
|
|
|
|
584,876,100 |
|
|
|
11.6 |
% |
|
SOUTH KOREA (11.1%) |
|
COMMON STOCKS (11.1%) |
|
# Hyundai Motor Co., Ltd. |
|
|
764,050 |
|
|
|
40,826,973 |
|
|
|
0.8 |
% |
|
*# KB Financial Group, Inc. ADR |
|
|
1,203,424 |
|
|
|
38,365,157 |
|
|
|
0.8 |
% |
|
LG Chemical, Ltd. |
|
|
175,904 |
|
|
|
19,421,995 |
|
|
|
0.4 |
% |
|
# POSCO ADR |
|
|
1,047,985 |
|
|
|
80,663,405 |
|
|
|
1.6 |
% |
|
# Samsung Corp. |
|
|
569,540 |
|
|
|
19,640,501 |
|
|
|
0.4 |
% |
|
SK Energy Co., Ltd. |
|
|
230,735 |
|
|
|
18,089,202 |
|
|
|
0.4 |
% |
|
Other Securities |
|
|
|
|
|
|
409,430,872 |
|
|
|
8.1 |
% |
|
TOTAL COMMON STOCKS |
|
|
|
|
|
|
626,438,105 |
|
|
|
12.5 |
% |
|
RIGHTS/WARRANTS (0.0%) |
|
Other Securities |
|
|
|
|
|
|
12,258 |
|
|
|
0.0 |
% |
|
TOTAL SOUTH KOREA |
|
|
|
|
|
|
626,450,363 |
|
|
|
12.5 |
% |
|
TAIWAN (11.9%) |
|
COMMON STOCKS (11.9%) |
|
# AU Optronics Corp. Sponsored ADR |
|
|
3,869,083 |
|
|
|
41,979,551 |
|
|
|
0.9 |
% |
|
China Development Financial Holding Corp. |
|
|
80,236,032 |
|
|
|
20,461,182 |
|
|
|
0.4 |
% |
|
Fubon Financial Holding Co., Ltd. |
|
|
30,440,000 |
|
|
|
23,594,633 |
|
|
|
0.5 |
% |
|
Mega Financial Holding Co., Ltd. |
|
|
69,737,000 |
|
|
|
28,188,790 |
|
|
|
0.6 |
% |
|
United Microelectronics Corp. |
|
|
106,490,069 |
|
|
|
40,221,565 |
|
|
|
0.8 |
% |
|
Other Securities |
|
|
|
|
|
|
519,300,315 |
|
|
|
10.2 |
% |
|
TOTAL TAIWAN |
|
|
|
|
|
|
673,746,036 |
|
|
|
13.4 |
% |
|
THAILAND (1.9%) |
|
COMMON STOCKS (1.9%) |
|
Other Securities |
|
|
|
|
|
|
107,413,385 |
|
|
|
2.1 |
% |
|
RIGHTS/WARRANTS (0.0%) |
|
Other Securities |
|
|
|
|
|
|
22,514 |
|
|
|
0.0 |
% |
|
TOTAL THAILAND |
|
|
|
|
|
|
107,435,899 |
|
|
|
2.1 |
% |
|
TURKEY (2.1%) |
|
COMMON STOCKS (2.1%) |
|
Other Securities |
|
|
|
|
|
|
118,653,432 |
|
|
|
2.4 |
% |
|
18
DIMENSIONAL EMERGING MARKETS VALUE FUND INC.
CONTINUED
|
|
|
|
Value |
|
Percentage of Net Assets** |
|
RIGHTS/WARRANTS (0.0%) |
|
Other Securities |
|
|
|
|
|
$ |
136,510 |
|
|
|
0.0 |
% |
|
TOTAL TURKEY |
|
|
|
|
|
|
118,789,942 |
|
|
|
2.4 |
% |
|
|
|
Face Amount |
|
Value |
|
|
|
|
|
(000) |
|
|
|
|
|
TEMPORARY CASH INVESTMENTS (0.3%) |
|
Repurchase Agreement, PNC Capital Markets, Inc. 0.19%, 05/01/09 (Collateralized by $15,665,000 FHLMC 5.50%, 06/01/38, valued at $15,573,452) to be repurchased at $15,339,081 |
|
$ |
15,339 |
|
|
|
15,339,000 |
|
|
|
0.3 |
% |
|
|
|
Shares |
|
|
|
|
|
SECURITIES LENDING COLLATERAL (11.5%) |
|
§@ DFA Short Term Investment Fund LP |
|
|
654,780,649 |
|
|
|
654,780,649 |
|
|
|
13.1 |
% |
|
|
|
Face Amount |
|
|
|
|
|
|
|
(000) |
|
|
|
|
|
@ Repurchase Agreement, Deutsche Bank Securities 0.17%, 05/01/09 (Collateralized by $51,198,873 FHLMC 7.000%(r), 08/01/38, valued at $387,586) to be repurchased at $379,988 |
|
$ |
380 |
|
|
|
379,986 |
|
|
|
0.0 |
% |
|
TOTAL SECURITIES LENDING COLLATERAL |
|
|
|
|
|
|
655,160,635 |
|
|
|
13.1 |
% |
|
TOTAL INVESTMENTS (100.0%) (Cost $6,206,263,533) |
|
|
|
|
|
$ |
5,663,821,177 |
|
|
|
112.8 |
% |
|
See accompanying Notes to Financial Statements.
19
DIMENSIONAL EMERGING MARKETS VALUE FUND INC.
STATEMENT OF ASSETS AND LIABILITIES
APRIL 30, 2009
(Unaudited)
(Amounts in thousands, except share and per share amounts)
ASSETS: |
|
Investments at Value (including $605,039 of securities on loan) |
|
$ |
4,993,321 |
|
|
Temporary Cash Investments at Value & Cost |
|
|
15,339 |
|
|
Collateral Received from Securities on Loan at Value & Cost |
|
|
655,161 |
|
|
Foreign Currencies at Value |
|
|
6,887 |
|
|
Cash |
|
|
2,864 |
|
|
Receivables: |
|
Investment Securities Sold |
|
|
8,591 |
|
|
Dividends and Interest |
|
|
11,737 |
|
|
Fund Shares Sold |
|
|
8,084 |
|
|
Securities Lending Income |
|
|
984 |
|
|
Prepaid Expenses and Other Assets |
|
|
5 |
|
|
Total Assets |
|
|
5,702,973 |
|
|
LIABILITIES: |
|
Payables: |
|
Upon Return of Securities Loaned |
|
|
655,161 |
|
|
Investment Securities Purchased |
|
|
24,267 |
|
|
Due to Advisor |
|
|
393 |
|
|
Deferred Thailand Capital Gains Tax |
|
|
3,077 |
|
|
Accrued Expenses and Other Liabilities |
|
|
586 |
|
|
Total Liabilities |
|
|
683,484 |
|
|
NET ASSETS |
|
$ |
5,019,489 |
|
|
SHARES OUTSTANDING, $0.01 PAR VALUE (1) |
|
|
158,400,649 |
|
|
NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE |
|
$ |
31.69 |
|
|
Investments at Cost |
|
$ |
5,535,764 |
|
|
Foreign Currencies at Cost |
|
$ |
6,353 |
|
|
NET ASSETS CONSIST OF: |
|
Paid-In Capital |
|
$ |
5,780,084 |
|
|
Undistributed Net Investment Income (Distributions in Excess of Net Investment Income) |
|
|
24,116 |
|
|
Accumulated Net Realized Gain (Loss) |
|
|
(239,135 |
) |
|
Deferred Thailand Capital Gains Tax |
|
|
(3,077 |
) |
|
Net Unrealized Foreign Exchange Gain (Loss) |
|
|
(590 |
) |
|
Net Unrealized Appreciation (Depreciation) |
|
|
(541,909 |
) |
|
NET ASSETS |
|
$ |
5,019,489 |
|
|
(1) NUMBER OF SHARES AUTHORIZED |
|
|
Unlimited |
|
|
See accompanying Notes to Financial Statements.
20
DIMENSIONAL EMERGING MARKETS VALUE FUND INC.
STATEMENT OF OPERATIONS
FOR THE SIX MONTHS ENDED APRIL 30, 2009
(Unaudited)
(Amounts in thousands)
Investment Income |
|
Dividends (Net of Foreign Taxes Withheld of $2,810) |
|
$ |
42,690 |
|
|
Interest |
|
|
280 |
|
|
Income from Securities Lending |
|
|
6,103 |
|
|
Total Investment Income |
|
|
49,073 |
|
|
Expenses |
|
Investment Advisory Services Fees |
|
|
2,009 |
|
|
Accounting & Transfer Agent Fees |
|
|
230 |
|
|
Custodian Fees |
|
|
1,283 |
|
|
Shareholders' Reports |
|
|
29 |
|
|
Directors'/Trustees' Fees & Expenses |
|
|
24 |
|
|
Professional Fees |
|
|
135 |
|
|
Other |
|
|
100 |
|
|
Total Expenses |
|
|
3,810 |
|
|
Net Investment Income (Loss) |
|
|
45,263 |
|
|
Realized and Unrealized Gain (Loss) |
|
Net Realized Gain (Loss) on: |
|
Investment Securities Sold |
|
|
(84,726 |
) |
|
Futures |
|
|
(3,835 |
) |
|
Foreign Currency Transactions |
|
|
(1,828 |
) |
|
In-Kind Redemptions |
|
|
18,097 |
* |
|
Change in Unrealized Appreciation (Depreciation) of: |
|
Investment Securities and Foreign Currency |
|
|
886,603 |
|
|
Futures |
|
|
(30 |
) |
|
Translation of Foreign Currency Denominated Amounts |
|
|
(338 |
) |
|
Deferred Thailand Capital Gains Tax |
|
|
(845 |
) |
|
Net Realized and Unrealized Gain (Loss) |
|
|
813,098 |
|
|
Net Increase (Decrease) in Net Assets Resulting from Operations |
|
$ |
858,361 |
|
|
* See Note J in the Notes to Financial Statements.
See accompanying Notes to Financial Statements.
21
DIMENSIONAL EMERGING MARKETS VALUE FUND INC.
STATEMENTS OF CHANGES IN NET ASSETS
(Amounts in thousands)
|
|
Six Months Ended April 30, 2009 |
|
Period Dec. 1, 2007 to Oct. 31, 2008 |
|
Year Ended Nov. 30, 2007 |
|
|
|
(Unaudited) |
|
|
|
|
|
Increase (Decrease) in Net Assets |
|
Operations: |
|
Net Investment Income (Loss) |
|
$ |
45,263 |
|
|
$ |
220,293 |
|
|
$ |
166,703 |
|
|
Net Realized Gain (Loss) on: |
|
Investment Securities Sold |
|
|
(84,726 |
) |
|
|
(165,343 |
) |
|
|
659,828 |
|
|
Futures |
|
|
(3,835 |
) |
|
|
|
|
|
|
|
|
|
Foreign Currency Transactions |
|
|
(1,828 |
) |
|
|
(3,212 |
) |
|
|
(2,063 |
) |
|
In-Kind Redemptions |
|
|
18,097 |
* |
|
|
18,537 |
|
|
|
|
|
|
Change in Unrealized Appreciation (Depreciation) of: |
|
Investment Securities and Foreign Currency |
|
|
886,603 |
|
|
|
(5,059,018 |
) |
|
|
1,892,737 |
|
|
Futures |
|
|
(30 |
) |
|
|
30 |
|
|
|
|
|
|
Translation of Foreign Currency Denominated Amounts |
|
|
(338 |
) |
|
|
(330 |
) |
|
|
(230 |
) |
|
Deferred Thailand Capital Gains Tax |
|
|
(845 |
) |
|
|
9,750 |
|
|
|
(3,211 |
) |
|
Net Increase (Decrease) in Net Assets Resulting from Operations |
|
|
858,361 |
|
|
|
(4,979,293 |
) |
|
|
2,713,764 |
|
|
Distributions From: |
|
Net Investment Income |
|
|
(22,017 |
) |
|
|
(222,572 |
) |
|
|
(160,170 |
) |
|
Net Short-Term Gains |
|
|
|
|
|
|
(12,627 |
) |
|
|
(7,987 |
) |
|
Net Long-Term Gains |
|
|
|
|
|
|
(644,382 |
) |
|
|
(183,896 |
) |
|
Total Distributions |
|
|
(22,017 |
) |
|
|
(879,581 |
) |
|
|
(352,053 |
) |
|
Capital Share Transactions (1): |
|
Shares Issued |
|
|
622,176 |
|
|
|
1,427,915 |
|
|
|
1,088,699 |
|
|
Shares Issued in Lieu of Cash Distributions |
|
|
21,654 |
|
|
|
835,164 |
|
|
|
338,352 |
|
|
Shares Redeemed |
|
|
(509,089 |
)* |
|
|
(544,511 |
) |
|
|
(437,964 |
) |
|
Net Increase (Decrease) from Capital Share Transactions |
|
|
134,741 |
|
|
|
1,718,568 |
|
|
|
989,087 |
|
|
Total Increase (Decrease) in Net Assets |
|
|
971,085 |
|
|
|
(4,140,306 |
) |
|
|
3,350,798 |
|
|
Net Assets |
|
Beginning of Period |
|
|
4,048,404 |
|
|
|
8,188,710 |
|
|
|
4,837,912 |
|
|
End of Period |
|
$ |
5,019,489 |
|
|
$ |
4,048,404 |
|
|
$ |
8,188,710 |
|
|
(1) Shares Issued and Redeemed: |
|
Shares Issued |
|
|
23,482 |
|
|
|
26,681 |
|
|
|
20,030 |
|
|
Shares Issued in Lieu of Cash Distributions |
|
|
895 |
|
|
|
15,562 |
|
|
|
6,805 |
|
|
Shares Redeemed |
|
|
(20,222 |
) |
|
|
(11,443 |
) |
|
|
(7,211 |
) |
|
|
|
|
4,155 |
|
|
|
30,800 |
|
|
|
19,624 |
|
|
Undistributed Net Investment Income (Distributions in Excess of Net Investment Income) |
|
$ |
24,116 |
|
|
$ |
870 |
|
|
$ |
6,305 |
|
|
* See Note J in the Notes to Financial Statements.
See accompanying Notes to Financial Statements.
22
DIMENSIONAL EMERGING MARKETS VALUE FUND INC.
FINANCIAL HIGHLIGHTS
(for a share outstanding throughout each period)
|
|
Six Months Ended April 30, 2009 |
|
Period Dec. 1, 2007 to Oct. 31, 2008 |
|
Year Ended Nov. 30, 2007 |
|
Year Ended Nov. 30, 2006 |
|
Year Ended Nov. 30, 2005 |
|
Year Ended Nov. 30, 2004 |
|
Year Ended Nov. 30, 2003 |
|
|
|
|
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Asset Value, Beginning of Period |
|
$ |
26.25 |
|
|
$ |
66.33 |
|
|
$ |
46.60 |
|
|
$ |
34.50 |
|
|
$ |
27.57 |
|
|
$ |
19.25 |
|
|
$ |
12.81 |
|
|
Income from Investment Operations |
|
Net Investment Income (Loss) |
|
|
0.29 |
(A) |
|
|
1.52 |
(A) |
|
|
1.41 |
(A) |
|
|
1.03 |
(A) |
|
|
0.99 |
(A) |
|
|
0.52 |
|
|
|
0.33 |
|
|
Net Gains (Losses) on Securities (Realized and Unrealized) |
|
|
5.29 |
|
|
|
(34.97 |
) |
|
|
21.49 |
|
|
|
12.95 |
|
|
|
7.42 |
|
|
|
8.42 |
|
|
|
6.45 |
|
|
Total from Investment Operations |
|
|
5.58 |
|
|
|
(33.45 |
) |
|
|
22.90 |
|
|
|
13.98 |
|
|
|
8.41 |
|
|
|
8.94 |
|
|
|
6.78 |
|
|
Less Distributions |
|
Net Investment Income |
|
|
(0.14 |
) |
|
|
(1.53 |
) |
|
|
(1.34 |
) |
|
|
(1.04 |
) |
|
|
(0.88 |
) |
|
|
(0.41 |
) |
|
|
(0.34 |
) |
|
Net Realized Gains |
|
|
|
|
|
|
(5.10 |
) |
|
|
(1.83 |
) |
|
|
(0.84 |
) |
|
|
(0.60 |
) |
|
|
(0.21 |
) |
|
|
|
|
|
Total Distributions |
|
|
(0.14 |
) |
|
|
(6.63 |
) |
|
|
(3.17 |
) |
|
|
(1.88 |
) |
|
|
(1.48 |
) |
|
|
(0.62 |
) |
|
|
(0.34 |
) |
|
Net Asset Value, End of Period |
|
$ |
31.69 |
|
|
$ |
26.25 |
|
|
$ |
66.33 |
|
|
$ |
46.60 |
|
|
$ |
34.50 |
|
|
$ |
27.57 |
|
|
$ |
19.25 |
|
|
Total Return |
|
|
21.44 |
%(C) |
|
|
(55.47 |
)%(C) |
|
|
51.59 |
% |
|
|
42.14 |
% |
|
|
31.60 |
% |
|
|
47.38 |
% |
|
|
53.30 |
% |
|
Net Assets, End of Period (thousands) |
|
$ |
5,019,489 |
|
|
$ |
4,048,404 |
|
|
$ |
8,188,710 |
|
|
$ |
4,837,912 |
|
|
$ |
2,417,064 |
|
|
$ |
1,172,950 |
|
|
$ |
617,723 |
|
|
Ratio of Expenses to Average Net Assets |
|
|
0.19 |
%(B) |
|
|
0.19 |
%(B) |
|
|
0.19 |
% |
|
|
0.22 |
% |
|
|
0.29 |
% |
|
|
0.34 |
% |
|
|
0.42 |
% |
|
Ratio of Net Investment Income to Average Net Assets |
|
|
2.27 |
%(B) |
|
|
3.19 |
%(B) |
|
|
2.50 |
% |
|
|
2.57 |
% |
|
|
3.23 |
% |
|
|
2.33 |
% |
|
|
2.39 |
% |
|
Portfolio Turnover Rate |
|
|
7 |
%(C) |
|
|
14 |
%(C) |
|
|
14 |
% |
|
|
9 |
% |
|
|
7 |
% |
|
|
8 |
% |
|
|
10 |
% |
|
See page 1 for the Definitions of Abbreviations and Footnotes.
See accompanying Notes to Financial Statements.
23
DIMENSIONAL EMERGING MARKETS VALUE FUND INC.
NOTES TO FINANCIAL STATEMENTS
(Unaudited)
A. Organization:
Dimensional Emerging Markets Value Fund Inc. (the "Fund") was organized as a closed-end management investment company registered under the Investment Company Act of 1940, as amended. Effective November 21, 1997, the Fund was reorganized as an open-end management investment company.
At a regular meeting of the Board of Directors/Trustees (the "Board") on September 16, 2008, the Board voted to change the fiscal and tax year ends of the Fund from November 30 to October 31.
B. Significant Accounting Policies:
The following significant accounting policies are in conformity with accounting principles generally accepted in the United States of America. Such policies are consistently followed by the Fund in preparation of its financial statements. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates and those differences could be material.
1. Security Valuation: Securities held by the Fund (including over-the-counter securities) are valued at the last quoted sale price of the day. Securities held by the Fund that are listed on Nasdaq are valued at the Nasdaq Official Closing Price ("NOCP"). If there is no last reported sale price or NOCP for the day, the Fund values the securities at the mean of the most recent quoted bid and asked prices. Price information on listed securities is taken from the exchange where the security is primarily traded. Generally, securities issued by open-end investment companies are valued using their respective net asset values or public offering prices, as appropriate, for purchase orders placed at the close of the New York Stock Exchange (NYSE).
Securities for which no market quotations are readily available (including restricted securities), or for which market quotations have become unreliable, are valued in good faith at fair value in accordance with procedures adopted by the Board of Directors/Trustees. Fair value pricing may also be used if events that have a significant effect on the value of an investment (as determined in the discretion of the Investment Committee of the Advisor) occur before the net asset value is calculated. When fair value pricing is used, the prices of securities used by the Fund may differ from the quoted or published prices for the same securities on their primary markets or exchanges.
The Fund will also fair value price in the circumstances described below. Generally, trading in foreign securities markets is completed each day at various times prior to the close of the NYSE. For example, trading in the Japanese securities markets is completed each day at the close of the Tokyo Stock Exchange (normally, 11:00 p.m. PT), which is fourteen hours prior to the close of the NYSE (normally, 1:00 p.m. PT) and the time that the net asset value of the Fund is computed. Due to the time differences between the closings of the relevant foreign securities exchanges and the time the Fund prices its shares at the close of the NYSE, the Fund will fair value its foreign investments when it is determined that the market quotations for the foreign investments are either unreliable or not readily available. The fair value prices will attempt to reflect the impact of the U.S. financial markets' perceptions and trading activities on the Fund's f
oreign investments since the last closing prices of the foreign investments were calculated on their primary foreign securities markets or exchanges. For these purposes, the Board of Directors/Trustees of the Fund has determined that movements in relevant indices or other appropriate market indicators, after the close of the Tokyo Stock Exchange or the London Stock Exchange, demonstrate that market quotations may be unreliable. Fair valuation of portfolio securities may occur on a daily basis. The fair value pricing by the Fund utilizes data furnished by an independent pricing service (and that data draws upon, among other information, the market values of foreign investments). The fair value prices of portfolio securities generally will be used when it is determined that the use of such prices will have a material impact on the net asset value of the Fund.
24
When the Fund uses fair value pricing, the values assigned to the Fund's foreign investments may not be the quoted or published prices of the investments on their primary markets or exchanges.
Futures contracts held by the Fund are valued using the settlement price established each day on the exchange on which they are traded.
Adoption of Statement of Financial Accounting Standards No. 157 "Fair Value Measurements" ("FAS 157")
Effective December 1, 2007, the Fund adopted Financial Accounting Standards No. 157. This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. The three levels of the fair value hierarchy under FAS 157 are described below:
Level 1 quoted prices in active markets for identical securities
Level 2 other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
Level 3 significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. A summary of the inputs used to value the Fund's net assets as of April 30, 2009 is listed below (in thousands).
|
|
Valuation Inputs |
|
|
|
Investments in Securities (Market Value) |
|
|
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
|
Dimensional Emerging Markets Value Fund Inc. |
|
$ |
1,493,355 |
|
|
$ |
4,170,466 |
|
|
|
|
|
|
$ |
5,663,821 |
|
|
2. Foreign Currency Translation: Securities and other assets and liabilities of the Fund whose values are initially expressed in foreign currencies are translated to U.S. dollars using the mean between the most recently quoted bid and asked prices for the U.S. dollar as quoted by generally recognized reliable sources. Dividend and interest income and certain expenses are translated to U.S. dollars at the rate of exchange on their respective accrual dates. Receivables and payables denominated in foreign currencies are marked to market based on daily exchange rates and exchange gains or losses are realized upon ultimate receipt or disbursement.
The Fund does not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of securities held whether realized or unrealized.
Realized gains or losses on foreign currency transactions represent net foreign exchange gains or losses from the disposition of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between amounts of interest, dividends and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent amounts actually received or paid.
3. Deferred Compensation Plan: Each eligible Director of the Fund may elect participation in the Deferred Compensation Plan (the "Plan"). Under the Plan, effective January 1, 2002, such Directors may defer payment of all or a portion of their total fees earned as a Director. These deferred amounts may be treated as though such amounts had been invested in shares of the following funds: U.S. Large Cap Value Portfolio; U.S. Core Equity 1 Portfolio; U.S. Core Equity 2 Portfolio; U.S. Vector Equity Portfolio; U.S. Micro Cap Portfolio; DFA International Value Portfolio; International Core Equity Portfolio; Emerging Markets Portfolio; Emerging Markets Core Equity Portfolio; and/or DFA Two-Year Global Fixed Income Portfolio. Contributions made under the Plan and the change in unrealized a
ppreciation (depreciation) and income, are included in Directors'/Trustees' Fees & Expenses. At April 30, 2009, the total liability for deferred compensation to Directors is included in Accrued Expenses and Other Liabilities in the amount of $104 (in thousands).
25
Each Director has the option to receive their distribution of proceeds in one of the following methods upon one year's notice: lump sum; annual installments over a period of agreed upon years; or semi-annual installments over a period of agreed upon years. As of April 30, 2009, none of the Directors have requested distribution of proceeds.
4. Other: Security transactions are accounted for as of the trade date. Costs used in determining realized gains and losses on the sale of investment securities are on the basis of identified cost. Dividend income and distributions to shareholders are recorded on the ex-dividend date. Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments or as a realized gain, respectively. The Fund estimates the character of distributions received that may be considered return of capital distributions. Interest income is recorded on the accrual basis. Expenses directly attributable to the Fund are directly charged.
The Fund may be subject to taxes imposed by countries in which it invests, with respect to its investment in issuers existing or operating in such countries. Such taxes are generally based on income earned or repatriated and capital gains realized on the sale of such investments. The Fund accrues such taxes when the related income or capital gains are earned or throughout the holding period. Some countries require governmental approval for the repatriation of investment income, capital or the proceeds of sales earned by foreign investors. In addition, if there is a deterioration in a country's balance of payments or for other reasons, a country may impose temporary restrictions on foreign capital remittances abroad.
The Fund's investments in Chile are subject to governmental taxes on investment income. Such taxes are due when currencies are repatriated from the country. The Fund accrues for taxes on income as the income is earned.
The Fund's investments in Thailand are subject to a 15% governmental capital gains tax. Such taxes are due upon sale of individual securities. The Fund accrues for taxes on the capital gains throughout the holding period based on the unrealized gain of the underlying securities. The Fund is also subject to a 10% governmental capital gains tax on short-term capital gains for investments in India. Such taxes are due upon sale of individual securities. The taxes for the capital gains are accrued when the capital gains are earned.
C. Investment Advisor:
Dimensional Fund Advisors LP ("Dimensional" or the "Advisor") provides investment advisory services to the Fund. For the six months ended April 30, 2009, the Fund's advisory services fees were accrued daily and paid monthly to the Advisor based on an effective annual rate of 0.10% of average daily net assets.
Fees Paid to Officers and Directors/Trustees:
Certain Officers and Directors/Trustees of the Advisor are also Officers and Directors/Trustees of the Fund; however, such Officers and Directors/Trustees (with the exception of the Chief Compliance Officer ("CCO")) receive no compensation from the Fund. For the six months ended April 30, 2009, the total related amounts paid by the Fund to the CCO were $6 (in thousands). The total related amounts paid by the Fund are included in Other Expenses on the Statement of Operations.
D. Purchases and Sales of Securities:
For the six months ended April 30, 2009, the Fund made the following purchases and sales of investment securities, other than short-term securities and U.S. government securities (amounts in thousands):
Purchases |
|
$ |
528,767 |
|
|
Sales |
|
|
273,020 |
|
|
There were no purchases or sales of long-term U.S. government securities.
26
E. Federal Income Taxes:
The Fund has qualified and intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code for federal income tax purposes and to distribute substantially all of its taxable income and net capital gains to shareholders. Accordingly, no provision has been made for federal income taxes.
Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from these amounts determined under accounting principles generally accepted in the United States of America. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent, they are charged or credited to paid-in capital, undistributed net investment income or accumulated net realized gains, as appropriate, in the period that the differences arise. Accordingly, the following permanent differences as of October 31, 2008, primarily attributable to net realized gains on securities considered to be "passive foreign investment companies" and in-kind redemptions were reclassified to the following accounts. These reclassifications had no effect on net assets or net asset value per share (amounts in thousands):
Increase (Decrease) Paid-in Capital |
|
Increase (Decrease) Undistributed Net Investment Income |
|
Increase (Decrease) Accumulated Net Realized Gains (Losses) |
|
$ |
18,537 |
|
|
$ |
(3,156 |
) |
|
$ |
(15,381 |
) |
|
The tax character of dividends and distributions declared and paid during the years ended November 30, 2006, November 30, 2007 and the period December 1, 2007 to October 31, 2008 were as follows (amounts in thousands):
|
|
Net Investment Income and Short-Term Gains |
|
Long-Term Capital Gains |
|
Total |
|
|
2006 |
|
|
$ |
94,881 |
|
|
$ |
53,393 |
|
|
$ |
148,274 |
|
|
|
2007 |
|
|
|
168,157 |
|
|
|
183,896 |
|
|
|
352,053 |
|
|
|
2008 |
|
|
|
235,208 |
|
|
|
644,373 |
|
|
|
879,581 |
|
|
At October 31, 2008, the components of distributable earnings/(accumulated losses) were as follows (amounts in thousands):
Undistributed Net Investment Income and Short-Term Capital Gains |
|
Undistributed Net Realized Capital Gains |
|
Total Net Distributable Earnings (Accumulated Losses) |
|
$ |
2,674 |
|
|
|
|
|
|
$ |
2,674 |
|
|
For federal income tax purposes, the Fund measures its capital loss carryforwards annually at October 31, its fiscal year end. Capital loss carryforwards may be carried forward and applied against future capital gains. As of October 31, 2008, the Fund had $166,848 of capital loss carryforwards available to offset future realized capital gains expiring in 2016.
Some of the Fund's investments are in securities considered to be "passive foreign investment companies" for which any unrealized appreciation (depreciation) (mark to market) and/or realized gains are required to be included in distributable net investment income for tax purposes. At October 31, 2008, the Fund had cumulative unrealized appreciation (depreciation) (mark to market) of $1,694 (in thousands) to be included in distributable net investment income for federal tax purposes. For the period December 1, 2007 to October 31, 2008, realized gains on the sale of passive foreign investment companies totaling $0 (in thousands) have been reclassified from accumulated net realized gains to accumulated net investment income for federal tax purposes.
27
At April 30, 2009, the total cost and aggregate gross unrealized appreciation and (depreciation) of securities for federal income tax purposes were different from amounts reported for financial reporting purposes (amounts in thousands):
Federal Tax Cost |
|
Unrealized Appreciation |
|
Unrealized (Depreciation) |
|
Net Unrealized Appreciation (Depreciation) |
|
$ |
6,237,728 |
|
|
$ |
967,804 |
|
|
$ |
(1,541,711 |
) |
|
$ |
(573,907 |
) |
|
In June 2006, the Financial Accounting Standards Board (FASB) issued FASB Interpretation 48 ("FIN 48"), "Accounting for Uncertainty in Income Taxes." This standard defines the threshold for recognizing the benefits of tax-return positions in the financial statements as "more-likely-than-not" to be sustained by the taxing authority and requires measurement of a tax position meeting the more-likely-than-not criterion, based on the largest benefit that is more than 50 percent likely to be realized. Management has analyzed the Fund's tax positions to be taken on the federal income tax returns for all open tax years (tax years ended November 30, 2005 through the period ended October 31, 2008), for purposes of implementing FIN 48, and has concluded that no provision for income tax is required in the Fund's financial statements.
F. Financial Instruments:
In accordance with the Fund's investment objectives and policies, the Fund may invest in certain financial instruments that have off-balance sheet risk in excess of the amounts recognized in the financial statements and concentrations of credit and market risk. These instruments and their significant corresponding risks are described below:
1. Repurchase Agreements: The Fund may purchase money market instruments from financial institutions, such as banks and non-bank dealers, subject to the counterparty's agreement to repurchase them at an agreed upon date and price. The counterparty will be required on a daily basis to maintain the value of the collateral subject to the agreement at not less than the repurchase price (including accrued interest). The agreements are conditioned upon the collateral being deposited under the Federal Reserve book-entry system or with the Fund's custodian or a third party sub-custodian. In the event of default or bankruptcy by the other party to the agreement, retention of the collateral may be subject to legal proceedings. All open repurchase agreements were entered into on April 30, 200
9.
2. Foreign Market Risks: Investments in foreign markets may involve certain considerations and risks not typically associated with investments in the United States, including the possibility of future political and economic developments and the level of foreign governmental supervision and regulation of foreign securities markets. These markets are generally smaller, less liquid and more volatile than the major securities markets in the United States. Consequently, acquisition and disposition of securities by the Fund may be inhibited.
3. Futures Contracts: During the six months ended April 30, 2009, the Fund entered into futures contracts in accordance with their investment objectives. Upon entering into a futures contract, the Fund deposited cash or pledged U.S. Government securities to a broker, equal to the minimum "initial margin" requirements of the exchange on which the contract is traded. Subsequent payments are received from or paid to the broker each day, based on the daily fluctuation in the market value of the contract. These receipts or payments are known as "variation margin" and are recorded daily by the Fund as unrealized gains or losses until the contracts are closed. When the contracts are closed, the Fund record a realized gain or loss equal to the difference between the value of the contr
act at the time it was opened and the value at the time it was closed.
Risks may arise upon entering into futures contracts from potential imperfect price correlations between the futures contracts and the underlying securities, from the possibility of an illiquid secondary market for these instruments and from the possibility that the Fund could lose more than the initial margin requirements.
At April 30, 2009, the Fund had no outstanding futures contracts.
28
G. Line of Credit:
The Fund, together with other Dimensional-advised portfolios, has entered into a $250 million unsecured discretionary line of credit effective June 30, 2003 with an affiliate of its domestic custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $250 million, as long as total borrowings under the line of credit do not exceed $250 million in the aggregate. Borrowings under the line of credit are charged interest at the then current Federal Funds Rate plus 1%. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. There is no commitment fee on the unused portion of the line of credit. The agreement for the discretionary line of credit may be terminated by either party at any time. The line of credit is scheduled to expire on June 23, 2009. There were no borrowings by the Fund under this line of credit during the six months ended Apr
il 30, 2009.
The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit effective January 15, 2009 with its international custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. Borrowings under the line of credit are charged interest at rates agreed to by the parties at the time of borrowing. There is no commitment fee on the unused portion of the line of credit. The agreement for the line of credit expires on January 15, 2010.
For the six months ended April 30, 2009, borrowings by the Fund under this line of credit were as follows (amounts in thousands, except percentage and days):
Weighted Average Interest Rate |
|
Weighted Average Loan Balance |
|
Number of Days Outstanding |
|
Interest Expense Incurred |
|
Maximum Amount Borrowed During the Period |
|
|
0.97 |
% |
|
$ |
14,267 |
|
|
|
4 |
|
|
$ |
2 |
|
|
$ |
16,470 |
|
|
There were no outstanding borrowing by the Fund under this line of credit at April 30, 2009.
H. Securities Lending:
As of April 30, 2009, the Fund had securities on loan to brokers/dealers, for which the Fund held cash collateral. The Fund invests the cash collateral, as described below, and records a liability for the return of the collateral, during the period the securities are on loan. Loans of securities are required at all times to be secured by collateral equal to at least (i) 100% of the current market value of the loaned securities with respect to securities of the U.S. government or its agencies, (ii) 102% of the current market value of the loaned securities with respect to U.S. securities, and (iii) 105% of the current market value of the loaned securities with respect to foreign securities. However, daily market fluctuations could cause the Fund's collateral to be lower or higher than the expected thresholds. If this were to occur, the collateral would be adjusted the next business day to ensure adequate collateralization. In the event of def
ault or bankruptcy by the other party to the agreement, realization and/or retention of the collateral may be subject to legal proceedings. If the borrower fails to return loaned securities, and cash collateral being maintained by the borrower is insufficient to cover the value of loaned securities and provided such collateral insufficiency is not the result of investment losses, the lending agent has agreed to pay the amount of the shortfall to the Fund or, at the option of the lending agent, to replace the securities.
Subject to the Fund's investment policy, the cash collateral received by the Fund from securities on loan is invested in securities of the U.S. government or its agencies, repurchase agreements collateralized by securities of the U.S. government or its agencies or shares of the DFA Short Term Investment Fund LP. Agencies include both agency debentures and agency mortgage backed securities. In addition, the Fund will be able to terminate the loan at any time and will receive reasonable interest on the loan, as well as amounts equal to any dividends, interest or other distributions on the loaned securities. However, dividend income received from loaned securities may not be eligible to be taxed at qualified dividend income rates.
29
I. Indemnitees; Contractual Obligations:
Under the Fund's organizational documents, its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the Fund.
In the normal course of business, the Fund enters into contracts that contain a variety of representations and warranties which provide general indemnification. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund and/or its affiliates that have not yet occurred. However, based on experience, the Fund expects the risk of loss to be remote.
J. In-Kind Redemptions:
In accordance with guidelines described in the Fund's prospectus, the Fund may distribute portfolio securities rather than cash as payment for a redemption of Fund shares (In-Kind redemption). For financial reporting purposes, the Fund recognizes a gain on In-Kind redemptions to the extent the value of the distributed securities on the date of redemption exceeds the cost of those securities. Gains and losses realized on In-Kind redemptions are not recognized for tax purposes and are reclassified from undistributed realized gain (loss) to paid-in capital. During the period ended April 30, 2009, the Fund realized $18,097 (in thousands) of net gain.
K. Recently Issued Accounting Standards and Interpretation:
In March 2008, Statement of Financial Accounting Standards No. 161, Disclosures about Derivative Instruments and Hedging Activities ("FAS 161"), was issued and is effective for fiscal years beginning after November 15, 2008. FAS 161 defines new disclosures of derivative instruments and hedging activities. Management is currently evaluating the implications of FAS 161. At this time, its impact on the Fund's financial statements has not been determined.
In April 2009, FASB issued FASB Staff Position No. 157-4, Determining Fair Value when the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly ("FSP 157-4"). FSP 157-4 is effective for fiscal years and interim periods ending after June 15, 2009. FSP 157-4 provides additional guidance for estimating fair value in accordance with SFAS 157 (see Note 2A) when the volume and level of activity for the asset or liability have significantly decreased. FSP 157-4 also includes guidance on identifying circumstances that indicate a transaction is not orderly. FSP 157-4 requires entities to describe the inputs used in valuation techniques used to measure fair value and changes in inputs over the period. FSP 157-4 expands the
three-level hierarchy disclosure and the level three-roll forward disclosure for each major security type as described in paragraph 19 of FAS No. 115, Accounting for Certain Investments in Debt and Equity Securities. Management is currently evaluating the impact the implementation of FSP 157-4 will have on the Funds' financial statement disclosures, if any.
30
VOTING PROXIES ON FUND PORTFOLIO SECURITIES
A description of the policies and procedures that the Fund uses in voting proxies relating to securities held in the portfolio is available without charge, upon request, by calling collect: (512) 306-7400. Information regarding how the Advisor votes these proxies is available from the EDGAR database on the SEC's website at http://www.sec.gov and from the Advisor's website at http://www.dimensional.com and reflects the twelve-month period beginning July 1st and ending June 30th.
31
BOARD APPROVAL OF INVESTMENT ADVISORY AGREEMENT
At the Board meeting held on December 18, 2008 (the "Meeting"), the Board of Directors (the "Board") of Dimensional Emerging Markets Value Fund Inc. (the "Fund") considered the continuation of the Fund's investment management agreement (the "Advisory Agreement.").
Prior to the Meeting, independent counsel to the Independent Board Members sent to the Advisor a request for information, which identified the information that the Independent Board Members wished to receive in order to consider the continuation of the Advisory Agreement. The Independent Board Members met with their independent counsel in advance of the Meeting to discuss the materials provided by the Advisor, the independent reports prepared by Lipper, Inc. (the "Lipper Reports"), and issues related to the continuation of the Advisory Agreement. Also in advance of the Meeting, management provided additional materials to address and respond to questions that the Independent Board Members posed after their review and analysis of materials provided by the Advisor and the Lipper Reports.
At the Meeting, the Board considered a number of factors when considering the continuation of the Advisory Agreement for the Fund, including: (i) the nature, extent and quality of services provided by the Advisor to the Fund; (ii) the performance of the Fund and the Advisor; (iii) the fees and expenses borne by the Fund; (iv) the profitability realized by the Advisor from the relationship with the Fund; (v) whether economies of scale are realized by the Advisor with respect to the Fund as it grows larger, and the extent to which this is reflected in the level of the advisory fee charged; (vi) comparisons of the services to be rendered and the amounts to be paid under other advisory contracts; and (vii) any benefits to be derived by the Advisor from its relationship with the Fund.
When considering the nature, extent and quality of the services provided by the Advisor to the Fund, the Board reviewed: (a) the scope and depth of the Advisor's organization; (b) the experience and expertise of its investment professionals currently providing management services to the Fund; and (c) the Advisor's investment advisory capabilities. The Board evaluated the Advisor's portfolio management process and discussed the unique features of the Advisor's investment approach. The Board also considered the nature and character of non-investment management services provided by the Advisor. After analyzing the caliber of services provided by the Advisor to the Fund, both quantitatively and qualitatively, including the impact of these services on investment performance, the Board concluded that the nature, extent and quality of services provided to the Fund were consistent with the operational requirements of the Fund and met the needs of th
e shareholders of the Fund.
In considering the performance of the Fund, the Board analyzed the Lipper Reports, which compared the performance of the Fund with other funds in its respective peer group and peer universe, and noted that the performance of the Fund compared favorably with its peer group for most performance periods. The Board also reviewed the performance analysis prepared by the Advisor, which presented the performance of the Fund and its benchmark index, over multiple performance periods, along with the Advisor's explanation of the performance. The Board concluded that the Advisor's explanation provided a sound basis for understanding the comparative performance of the Fund. The Board determined, among other things, that the performance of the Fund was acceptable as compared with relevant performance standards.
When considering the fees and expenses borne by the Fund, and considering the reasonableness of the management fees paid to the Advisor in light of the services provided to the Fund and any additional benefits received by the Advisor in connection with providing such services, the Board compared the fees charged by the Advisor to the Fund to the fees charged to the funds in its peer group for comparable services as provided in the Lipper Reports. The Board concluded that the advisory fees and total expenses of the Fund over various periods were favorable in relation to its peer funds, and that the advisory fees were fair, both on an absolute basis and in comparison with the fees of other funds identified in the peer groups and the industry at large. The Board also noted that significant reductions in the Fund's non-management fees charged by the Fund's administrator and transfer agent have been negotiated by management over the course of the
last three years.
The Board considered the profitability of the Fund to the Advisor by reviewing the profitability analysis provided by the Advisor, including information about its fee revenues and income. The Board reviewed the overall profitability
32
of the Advisor, and the compensation that it received for providing services to the Fund, including administrative fees paid by the feeder portfolio. The Board considered the profitability to the Advisor of managing the Fund and other "non-1940 Act registered" investment vehicles. Upon closely examining the Advisor's profitability, the Board concluded, among other things, that it was reasonable.
The Board also discussed whether economies of scale are realized by the Advisor with respect to the Fund as it grows larger, and the extent to which this is reflected in the level of advisory fees charged. For several reasons, including factors relating to the current level of fees and expenses and the profitability of the Advisor with respect to the Fund, the Board concluded that economies of scale and the reflection of such economies of scale in the level of advisory fees charged were inapplicable to the Fund at the present time.
After full consideration of the factors discussed above, with no single factor identified as being of paramount importance, the Board, including the Independent Board Members, with the assistance of independent counsel, concluded that the continuation of the Advisory Agreement for the Fund was in the best interests of the Fund and its shareholders.
33
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![](j09103267_za008.jpg)
DFA043009-005S
ITEM 2. CODE OF ETHICS.
Not applicable when
filing a semi-annual report to shareholders.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
Not applicable when
filing a semi-annual report to shareholders.
ITEM
4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
Not applicable when
filing a semi-annual report to shareholders.
ITEM
5. AUDIT COMMITTEE OF LISTED REGISTRANTS.
This item is not
applicable to the Registrant.
ITEM
6. INVESTMENTS.
(a) The Registrants schedule of
investments is provided below.
DIMENSIONAL EMERGING MARKETS VALUE FUND INC.
DEFINITIONS OF ABBREVIATIONS AND FOOTNOTES
Schedule of Investments
Investment Abbreviations
ADR
|
|
American Depositary Receipt
|
FHLMC
|
|
Federal Home Loan Mortgage Corporation
|
NVDR
|
|
Non-Voting Depositary Receipt
|
Investment Footnotes
|
|
See Note B to Financial Statements.
|
|
|
Securities have been fair valued. See Note B to
Financial Statements
|
*
|
|
Non-Income Producing Securities.
|
#
|
|
Total or Partial Securities on Loan.
|
@
|
|
Security purchased with cash proceeds from
Securities on Loan.
|
(r)
|
|
The adjustable rate shown is effective as of April
30, 2009.
|
§
|
|
Affiliated Fund.
|
|
|
Amounts designated as - are either zero or rounded
to zero.
|
DIMENSIONAL EMERGING MARKETS VALUE
FUND INC.
SCHEDULE OF INVESTMENTS
April 30, 2009
(Unaudited)
|
|
|
|
Shares
|
|
Value
|
|
|
|
|
|
|
|
ARGENTINA
(0.1%)
|
|
|
|
|
|
COMMON
STOCKS (0.1%)
|
|
|
|
|
|
*
|
|
Alpargatas
S.A.I.C.
|
|
6,363
|
|
$2,586
|
|
|
|
Banco
Macro SA
|
|
1,418,637
|
|
1,572,399
|
|
*
|
|
Banco
Suquia SA
|
|
327,868
|
|
42,830
|
|
*
|
|
BBVA
Banco Frances SA
|
|
130,508
|
|
130,877
|
|
*
|
|
Capex
SA Series A
|
|
394,725
|
|
175,003
|
|
*
|
|
Celulosa
Argentina SA Series B
|
|
14,412
|
|
3,271
|
|
*
|
|
Central
Puerto SA Series B
|
|
125,000
|
|
125,353
|
|
|
|
Cresud
SA Comercial Industrial Financiera y Agropecuaria
|
|
461,252
|
|
373,696
|
|
*
|
|
Dycasa
SA Series B
|
|
55,000
|
|
43,399
|
|
*
|
|
Endesa
Costanera SA Series B
|
|
261,000
|
|
176,329
|
|
*
|
|
IRSA
Inversiones y Representaciones SA
|
|
1,186,421
|
|
460,255
|
|
*
|
|
Juan
Minetti SA
|
|
769,693
|
|
163,514
|
|
|
|
Ledesma S.A.A.I.
|
|
885,405
|
|
682,287
|
|
*
|
|
MetroGas
SA Series B
|
|
176,000
|
|
23,223
|
|
|
|
Petrobras
Energia Participacio
|
|
1,472,366
|
|
932,544
|
|
*
|
|
Polledo
SA Industria Constructora y FinancierA
|
|
50,000
|
|
3,233
|
|
|
|
Siderar
S.A.I.C. Series A
|
|
494,314
|
|
1,095,782
|
|
*
|
|
Solvay
Indupa S.A.I.C.
|
|
1,229,322
|
|
629,375
|
|
|
|
Tenaris
SA
|
|
140,000
|
|
1,754,946
|
|
|
|
Transportadora
de Gas del Sur SA Series B
|
|
364,679
|
|
141,472
|
|
|
|
|
|
|
|
TOTAL
ARGENTINA
|
|
|
|
8,532,374
|
|
|
|
|
|
|
|
BRAZIL
(8.0%)
|
|
|
|
|
|
COMMON
STOCKS (2.9%)
|
|
|
|
|
|
*
|
|
Acucar
Guarani SA
|
|
100,000
|
|
116,494
|
|
|
|
Banco
ABC Brasil SA
|
|
223,300
|
|
714,087
|
|
|
|
Banco
Alfa de Investimento SA
|
|
98,700
|
|
360,721
|
|
|
|
Banco
Bradesco SA
|
|
31,500
|
|
323,785
|
|
|
|
Banco
Daycoval SA
|
|
244,200
|
|
697,252
|
|
*
|
|
Banco
Industrial e Comercial SA
|
|
490,200
|
|
1,298,869
|
|
*
|
|
Banco
Panamericano SA
|
|
258,900
|
|
438,804
|
|
|
|
Banco
Pine SA
|
|
211,700
|
|
606,391
|
|
|
|
Banco
Sofisa SA
|
|
715,300
|
|
1,307,111
|
|
|
|
Bematech
SA
|
|
391,800
|
|
1,047,091
|
|
*
|
|
BM&F
Bovespa SA
|
|
7,418,300
|
|
30,500,788
|
|
*
|
|
BR
Malls Participacoes SA
|
|
449,200
|
|
3,324,443
|
|
*
|
|
Brascan
Residential Properties SA
|
|
1,931,400
|
|
3,308,778
|
|
|
|
Brasil
Brokers Participacoes SA
|
|
49,200
|
|
59,788
|
|
|
|
Camargo
Correa Desenvolvimento Imobiliario SA
|
|
64,400
|
|
97,676
|
|
|
|
Companhia
Siderurgica Nacional SA
|
|
626,700
|
|
11,566,587
|
|
1
#
|
|
Companhia
Vale do Rio Doce ADR
|
|
290,000
|
|
4,787,900
|
|
*
|
|
Cosan
SA Industria e Comercio
|
|
912,300
|
|
5,559,781
|
|
|
|
Cremer
SA
|
|
160,200
|
|
695,265
|
|
|
|
Empresa
Brasileira de Aeronautica SA ADR
|
|
275,593
|
|
4,470,118
|
|
|
|
Eternit
SA
|
|
630,320
|
|
2,015,688
|
|
|
|
Even
Construtora e Incorporadora SA
|
|
327,100
|
|
526,002
|
|
|
|
EZ
Tec Empreendimentos e Participacoes SA
|
|
55,000
|
|
84,424
|
|
|
|
Financeira
Alfa SA
|
|
36,400
|
|
51,384
|
|
*
|
|
Gafisa
SA
|
|
1,549,100
|
|
13,559,358
|
|
* #
|
|
Gafisa
SA ADR
|
|
168,277
|
|
2,912,875
|
|
|
|
Gerdau
SA
|
|
1,270,600
|
|
7,139,670
|
|
*
|
|
Globex
Utilidades SA
|
|
45,131
|
|
164,941
|
|
#
|
|
Gol
Linhas Aereas Inteligentes SA Sponsored ADR
|
|
75,729
|
|
263,537
|
|
|
|
Grendene
SA
|
|
181,100
|
|
1,225,287
|
|
|
|
Guararapes
Confeccoes SA
|
|
10,800
|
|
95,470
|
|
*
|
|
IdeiasNet
SA
|
|
1,004,700
|
|
1,225,496
|
|
|
|
Iguatemi
Empresa de Shopping Centers SA
|
|
290,800
|
|
2,194,667
|
|
|
|
Industrias
Romi SA
|
|
443,100
|
|
1,481,757
|
|
|
|
Itau
Unibanco Banco Multiplio SA ADR
|
|
735,328
|
|
10,096,053
|
|
|
|
JBS
SA
|
|
3,909,700
|
|
11,038,144
|
|
|
|
JHSF
Participacoes SA
|
|
380,200
|
|
307,432
|
|
*
|
|
Log-in
Logistica Intermodal SA
|
|
159,300
|
|
534,893
|
|
|
|
M
Dias Branco SA
|
|
167,100
|
|
1,725,238
|
|
*
|
|
Magnesita
Refratarios SA
|
|
703,918
|
|
2,257,477
|
|
|
|
Marisa
SA
|
|
80,400
|
|
179,977
|
|
*
|
|
Medial
Saude SA
|
|
482,900
|
|
1,511,165
|
|
|
|
MPX
Energia SA
|
|
14,600
|
|
1,627,447
|
|
*
|
|
Multiplan
Empreendimentos Imobiliarios SA
|
|
89,600
|
|
697,087
|
|
|
|
Obrascon
Huarte Lain Brasil SA
|
|
217,000
|
|
1,388,871
|
|
|
|
Parana
Banco SA
|
|
60,700
|
|
143,365
|
|
*
|
|
Paranapanema
SA
|
|
109,900
|
|
173,213
|
|
|
|
PDG
Realty SA Empreendimentos e Participacoes
|
|
651,200
|
|
6,205,730
|
|
*
|
|
Perdigao
SA
|
|
7,171
|
|
105,651
|
|
*
|
|
Plascar
Participacoes Industriais SA
|
|
98,900
|
|
105,273
|
|
|
|
Porto
Seguro SA
|
|
327,900
|
|
1,975,834
|
|
|
|
Positivo
Informatica SA
|
|
248,500
|
|
1,021,723
|
|
|
|
Rodobens
Negocios Imobiliarios SA
|
|
44,300
|
|
293,046
|
|
*
|
|
Rossi
Residencial SA
|
|
1,671,400
|
|
5,887,066
|
|
*
|
|
Sao
Carlos Empreendimentos e Participacoes SA
|
|
69,000
|
|
453,916
|
|
*
|
|
Sao
Martinho SA
|
|
298,900
|
|
1,843,418
|
|
|
|
Sul
America SA
|
|
81,000
|
|
813,719
|
|
|
|
Totvs
SA
|
|
6,029
|
|
163,054
|
|
|
|
Universo
Online SA
|
|
479,100
|
|
1,444,556
|
|
|
|
Usinas
Siderurgicas de Minas Gerais SA
|
|
710,500
|
|
9,779,741
|
|
TOTAL
COMMON STOCKS
|
|
|
|
165,995,374
|
|
|
|
|
|
|
|
PREFERRED
STOCKS (5.1%)
|
|
|
|
|
|
#
|
|
Aracruz
Celulose SA Sponsored ADR
|
|
643,665
|
|
7,685,360
|
|
|
|
Banco
Alfa de Investimento SA
|
|
61,726
|
|
201,058
|
|
|
|
Banco
Bradesco SA Sponsored ADR
|
|
348,766
|
|
4,282,846
|
|
*
|
|
Braskem
SA Preferred A
|
|
1,479,200
|
|
4,243,759
|
|
2
* #
|
|
Braskem
SA Preferred A Sponsored ADR
|
|
306,860
|
|
1,739,896
|
|
|
|
Centrais
Electricas de Santa Catarina SA
|
|
201,600
|
|
2,895,591
|
|
|
|
Companhia
Brasileira de Distribuicao Grupo Pao de Acucar
|
|
293,080
|
|
4,739,730
|
|
*
|
|
Companhia
de Tecidos Norte de Minas
|
|
707,350
|
|
1,308,741
|
|
|
|
Companhia
Vale do Rio Doce Series B
|
|
239,144
|
|
|
|
|
|
Confab
Industrial SA
|
|
2,856,852
|
|
5,024,729
|
|
|
|
Contax
Participacoes SA
|
|
3,000
|
|
59,892
|
|
|
|
Duratex
SA
|
|
1,067,700
|
|
8,296,936
|
|
|
|
Forjas
Taurus SA
|
|
659,791
|
|
1,579,435
|
|
|
|
Gerdau
SA
|
|
2,445,084
|
|
17,559,433
|
|
#
|
|
Gerdau
SA Sponsored ADR
|
|
3,694,358
|
|
26,229,942
|
|
|
|
Gol
Linhas Aereas Inteligentes SA
|
|
694,900
|
|
2,396,809
|
|
*
|
|
Inepar
Industria e Construcoes SA
|
|
7,896
|
|
58,473
|
|
|
|
Investimentos
Itau SA
|
|
6,589,068
|
|
28,175,005
|
|
|
|
Itau
Unibanco Banco Multiplo SA
|
|
864,297
|
|
12,003,302
|
|
|
|
Klabin
SA
|
|
4,684,604
|
|
6,762,762
|
|
|
|
Mahle-Metal
Leve SA Industria e Comercio
|
|
4,000
|
|
34,482
|
|
|
|
Marcopolo
SA
|
|
1,835,200
|
|
4,082,973
|
|
|
|
Metalurgica
Gerdau SA
|
|
4,022,600
|
|
38,187,089
|
|
|
|
Randon
e Participacoes SA
|
|
616,500
|
|
2,255,951
|
|
|
|
Sadia
SA
|
|
987,982
|
|
1,900,182
|
|
#
|
|
Sadia
SA ADR
|
|
536,304
|
|
3,056,933
|
|
|
|
Sao
Paulo Alpargatas SA
|
|
43,700
|
|
1,437,401
|
|
|
|
Saraiva
SA Livreiros Editores
|
|
21,000
|
|
190,913
|
|
*
|
|
Suzano
Papel e Celullose SA
|
|
1,964,839
|
|
12,467,902
|
|
|
|
Telemar
Norte Leste SA
|
|
549,500
|
|
13,806,848
|
|
|
|
Ultrapar
Participacoes SA
|
|
170,741
|
|
4,771,341
|
|
|
|
Ultrapar
Participacoes SA Sponsored ADR
|
|
162,709
|
|
4,533,073
|
|
|
|
Uniao
de Industrias Petroquimicas SA Series B
|
|
7,370,473
|
|
2,424,332
|
|
|
|
Usinas
Siderurgicas de Minas Gerais SA Series A
|
|
3,546,355
|
|
52,605,197
|
|
*
|
|
Votorantim
Celulose e Papel SA
|
|
262,275
|
|
2,276,537
|
|
* #
|
|
Votorantim
Celulose e Papel SA Sponsored ADR
|
|
665,607
|
|
5,817,405
|
|
|
|
Whirlpool
SA
|
|
72,600
|
|
103,148
|
|
TOTAL
PREFERRED STOCKS
|
|
|
|
285,195,406
|
|
|
|
|
|
|
|
TOTAL
BRAZIL
|
|
|
|
451,190,780
|
|
|
|
|
|
|
|
CHILE
(2.5%)
|
|
|
|
|
|
COMMON
STOCKS (2.5%)
|
|
|
|
|
|
|
|
Banco
de Credito e Inversiones SA Series A
|
|
105,821
|
|
2,255,574
|
|
|
|
CAP
SA
|
|
199,310
|
|
3,227,332
|
|
|
|
Cementos
Bio-Bio SA
|
|
665,307
|
|
932,059
|
|
|
|
Cintac
SA
|
|
153,487
|
|
43,533
|
|
|
|
Compania
Cervecerias Unidas SA
|
|
143,000
|
|
848,045
|
|
|
|
Compania
de Consumidores de Gas Santiago SA
|
|
131,746
|
|
498,223
|
|
|
|
Compania
General de Electricidad SA
|
|
110,357
|
|
572,889
|
|
*
|
|
Compania
SudAmericana de Vapores SA
|
|
6,979,335
|
|
4,198,998
|
|
|
|
Componia
Tecno Industrial SA
|
|
4,900,000
|
|
117,920
|
|
|
|
CorpBanca
SA
|
|
1,066,925,456
|
|
4,860,082
|
|
|
|
Cristalerias
de Chile SA
|
|
264,624
|
|
2,365,354
|
|
|
|
Embotelladora
Andina SA Series A ADR
|
|
48,768
|
|
628,132
|
|
|
|
Embotelladora
Andina SA Series B ADR
|
|
7,357
|
|
113,298
|
|
3
|
|
Empresa
Nacional de Electricidad SA
|
|
2,694,503
|
|
3,441,368
|
|
|
|
Empresa
Nacional de Telecomunicaciones SA
|
|
116,880
|
|
1,376,241
|
|
|
|
Empresas
CMPC SA
|
|
1,083,372
|
|
24,190,808
|
|
|
|
Empresas
Copec SA
|
|
1,107,613
|
|
11,080,890
|
|
|
|
Empresas
Iansa SA
|
|
22,719,833
|
|
886,532
|
|
|
|
Enersis
SA
|
|
31,903,095
|
|
9,541,589
|
|
|
|
Enersis
SA Sponsored ADR
|
|
2,890,837
|
|
43,333,647
|
|
|
|
Industrias
Forestales SA
|
|
3,436,382
|
|
620,232
|
|
|
|
Inversiones
Frimetal SA
|
|
4,900,000
|
|
18,909
|
|
|
|
Madeco
SA
|
|
43,800,292
|
|
2,108,136
|
|
|
|
Masisa
SA
|
|
21,291,220
|
|
2,232,513
|
|
|
|
Minera
Valparaiso SA
|
|
7,500
|
|
181,792
|
|
*
|
|
Parque
Arauco SA
|
|
2,474,668
|
|
1,658,995
|
|
|
|
Sociedad
Quimica y Minera de Chile SA Series B
|
|
481,533
|
|
15,254,270
|
|
|
|
Soquimic
Comercial SA
|
|
198,000
|
|
78,962
|
|
|
|
Vina
Concha Y Toro SA
|
|
272,412
|
|
451,874
|
|
#
|
|
Vina
Concha Y Toro SA Sponsored ADR
|
|
7,386
|
|
244,107
|
|
|
|
Vina
San Pedro Tarapaca SA
|
|
79,756,271
|
|
467,501
|
|
|
|
Watts
SA
|
|
163,489
|
|
75,875
|
|
TOTAL
COMMON STOCKS
|
|
|
|
137,905,680
|
|
|
|
|
|
|
|
PREFERRED
STOCKS (0.0%)
|
|
|
|
|
|
|
|
Sociedad
Quimica y Minera de Chile SA Series A
|
|
42,776
|
|
1,461,369
|
|
|
|
|
|
|
|
RIGHTS/WARRANTS
(0.0%)
|
|
|
|
|
|
*
|
|
Vina
Concha Y Toro SA Rights 05/15/09
|
|
10,606
|
|
602
|
|
|
|
|
|
|
|
TOTAL
CHILE
|
|
|
|
139,367,651
|
|
|
|
|
|
|
|
CHINA
(11.0%)
|
|
|
|
|
|
COMMON
STOCKS (11.0%)
|
|
|
|
|
|
#
|
|
Agile
Property Holdings, Ltd.
|
|
9,060,000
|
|
6,760,579
|
|
* #
|
|
Air
China, Ltd.
|
|
1,830,000
|
|
855,323
|
|
|
|
Aluminum
Corp. of China, Ltd.
|
|
28,000
|
|
21,408
|
|
#
|
|
Aluminum
Corp. of China, Ltd. ADR
|
|
289,495
|
|
5,566,989
|
|
|
|
AMVIG
Holdings, Ltd.
|
|
3,391,100
|
|
2,132,161
|
|
#
|
|
Angang
Steel Co., Ltd.
|
|
6,293,640
|
|
7,483,479
|
|
*
|
|
Anhui
Conch Cement Co., Ltd.
|
|
292,000
|
|
1,935,502
|
|
* #
|
|
AviChina
Industry and Technology Co., Ltd.
|
|
15,580,000
|
|
3,135,166
|
|
#
|
|
Bank
of China, Ltd.
|
|
88,608,000
|
|
32,853,674
|
|
#
|
|
Bank
of Communications Co., Ltd.
|
|
4,991,000
|
|
4,020,436
|
|
|
|
Baoye
Group Co., Ltd.
|
|
1,020,000
|
|
366,261
|
|
#
|
|
Beijing
Capital International Airport Co., Ltd.
|
|
9,406,000
|
|
5,939,992
|
|
|
|
Beijing
Capital Land, Ltd.
|
|
4,982,000
|
|
1,003,568
|
|
#
|
|
Beijing
Enterprises Holdings, Ltd.
|
|
5,634,000
|
|
24,586,242
|
|
|
|
Beijing
North Star Co., Ltd.
|
|
3,836,000
|
|
830,035
|
|
|
|
Bosideng
International Holdings, Ltd.
|
|
11,916,000
|
|
962,750
|
|
* #
|
|
Brilliance
China Automotive Holdings, Ltd.
|
|
9,278,000
|
|
687,979
|
|
* #
|
|
Byd
Co., Ltd.
|
|
1,424,300
|
|
3,714,340
|
|
* #
|
|
Catic
Shenzhen Holdings, Ltd.
|
|
2,458,000
|
|
610,655
|
|
4
#
|
|
Chaoda
Modern Agriculture (Holdings), Ltd.
|
|
30,747,412
|
|
17,575,504
|
|
*
|
|
China
Aerospace International Holdings, Ltd.
|
|
8,068,000
|
|
479,469
|
|
*
|
|
China
Agri-Industries Holdings, Ltd.
|
|
7,278,000
|
|
3,727,629
|
|
*
|
|
China
Aoyuan Property Group, Ltd.
|
|
4,601,000
|
|
593,633
|
|
*
|
|
China
Citic Bank
|
|
545,000
|
|
247,483
|
|
|
|
China
Construction Bank Corp.
|
|
19,134,000
|
|
11,070,849
|
|
#
|
|
China
COSCO Holdings Co., Ltd.
|
|
2,040,000
|
|
1,652,134
|
|
#
|
|
China
Everbright, Ltd.
|
|
7,489,600
|
|
14,493,568
|
|
#
|
|
China
Foods, Ltd.
|
|
14,641,200
|
|
7,041,235
|
|
*
|
|
China
Grand Forestry Green Resources Group, Ltd.
|
|
21,988,000
|
|
857,299
|
|
#
|
|
China
Green (Holdings), Ltd.
|
|
4,083,800
|
|
3,277,652
|
|
*
|
|
China
Haidian Holdings, Ltd.
|
|
11,853,000
|
|
836,281
|
|
|
|
China
Insurance International Holdings Co., Ltd.
|
|
586,000
|
|
976,647
|
|
|
|
China
Life Insurance Co., Ltd.
|
|
9,000
|
|
31,781
|
|
#
|
|
China
Life Insurance Co., Ltd. ADR
|
|
328,322
|
|
17,384,650
|
|
|
|
China
Mengniu Dairy Co., Ltd.
|
|
596,000
|
|
1,064,652
|
|
#
|
|
China
Merchants Holdings (International) Co., Ltd.
|
|
2,157,561
|
|
5,053,185
|
|
* #
|
|
China
Mining Resources Group, Ltd.
|
|
17,992,000
|
|
548,739
|
|
|
|
China
Mobile, Ltd.
|
|
4,500
|
|
39,032
|
|
|
|
China
National Building Material Co., Ltd.
|
|
512,000
|
|
1,072,798
|
|
|
|
China
Nickel Resources Holding Co., Ltd.
|
|
1,350,000
|
|
172,786
|
|
#
|
|
China
Oilfield Services, Ltd.
|
|
1,002,000
|
|
816,446
|
|
|
|
China
Petroleum and Chemical Corp. (Sinopec)
|
|
46,000
|
|
35,753
|
|
#
|
|
China
Petroleum and Chemical Corp. (Sinopec) ADR
|
|
128,920
|
|
10,004,192
|
|
|
|
China
Pharmaceutical Group, Ltd.
|
|
12,982,000
|
|
6,479,038
|
|
*
|
|
China
Properties Group, Ltd.
|
|
2,943,000
|
|
498,626
|
|
|
|
China
Rare Earth Holdings, Ltd.
|
|
14,431,000
|
|
1,869,737
|
|
|
|
China
Resources Enterprise, Ltd.
|
|
5,692,000
|
|
10,024,222
|
|
*
|
|
China
Resources Gas Group, Ltd.
|
|
264,200
|
|
150,596
|
|
*
|
|
China
Shenhua Energy Co., Ltd.
|
|
2,511,000
|
|
6,990,336
|
|
|
|
China
Shineway Pharmaceutical Group, Ltd.
|
|
141,000
|
|
85,856
|
|
#
|
|
China
Shipping Container Lines Co., Ltd.
|
|
32,770,700
|
|
7,883,660
|
|
|
|
China
Shipping Development Co., Ltd.
|
|
894,000
|
|
1,018,203
|
|
* #
|
|
China
Southern Airlines Co., Ltd. ADR
|
|
23,250
|
|
271,560
|
|
#
|
|
China
State Construction International Holdings, Ltd.
|
|
3,410,000
|
|
827,073
|
|
#
|
|
China
Travel International Investment Hong Kong, Ltd.
|
|
21,415,000
|
|
3,737,918
|
|
|
|
China
Unicom Hong Kong, Ltd.
|
|
2,354,000
|
|
2,749,540
|
|
#
|
|
China
Unicom Hong Kong, Ltd. ADR
|
|
3,960,892
|
|
45,827,520
|
|
|
|
Chongqing
Iron and Steel Co., Ltd.
|
|
1,880,000
|
|
553,621
|
|
#
|
|
Citic
Pacific, Ltd.
|
|
3,940,000
|
|
5,742,558
|
|
* #
|
|
CITIC
Resources Holdings, Ltd.
|
|
13,006,000
|
|
1,805,567
|
|
|
|
CNPC
Hong Kong, Ltd.
|
|
41,130,000
|
|
20,302,117
|
|
#
|
|
Comba
Telecom Systems Holdings, Ltd.
|
|
5,621,600
|
|
2,406,147
|
|
|
|
COSCO
International Holdings, Ltd.
|
|
2,328,000
|
|
710,104
|
|
#
|
|
COSCO
Pacific, Ltd.
|
|
16,910,000
|
|
15,961,143
|
|
* #
|
|
Country
Garden Holdings Co.
|
|
1,674,000
|
|
546,014
|
|
*
|
|
Dachan
Food Asia, Ltd.
|
|
570,000
|
|
98,585
|
|
#
|
|
Dalian
Port (PDA) Co., Ltd.
|
|
13,298,000
|
|
4,624,942
|
|
|
|
Denway
Motors, Ltd.
|
|
57,620,000
|
|
23,946,671
|
|
|
|
Digital
China Holdings, Ltd.
|
|
1,170,000
|
|
638,614
|
|
*
|
|
Dongfang
Electric Co., Ltd.
|
|
94,000
|
|
245,196
|
|
|
|
Dongfeng
Motor Corp.
|
|
36,624,000
|
|
27,300,249
|
|
5
#
|
|
Dynasty
Fine Wines Group, Ltd.
|
|
9,454,600
|
|
1,638,584
|
|
* #
|
|
Fosun
International
|
|
8,032,000
|
|
2,821,514
|
|
#
|
|
FU
JI Food & Catering Services
|
|
1,275,000
|
|
673,527
|
|
#
|
|
Geely
Automobile Holdings, Ltd.
|
|
41,676,900
|
|
5,590,971
|
|
|
|
Global
Bio-Chem Technology Group Co., Ltd.
|
|
24,527,400
|
|
3,266,940
|
|
#
|
|
Golden
Eagle Retail Group, Ltd.
|
|
3,066,000
|
|
2,474,919
|
|
|
|
GOME
Electrical Appliances Holdings, Ltd.
|
|
3,928,000
|
|
567,656
|
|
*
|
|
Great
Wall Motor Co., Ltd.
|
|
3,555,000
|
|
1,883,006
|
|
*
|
|
Greentown
China Holdings, Ltd.
|
|
2,916,000
|
|
1,605,526
|
|
|
|
Guangshen
Railway Co., Ltd. Sponsored ADR
|
|
420,517
|
|
9,398,555
|
|
|
|
Guangzhou
Investment Co., Ltd.
|
|
15,630,000
|
|
2,536,273
|
|
*
|
|
Guangzhou
Pharmaceutical Co., Ltd.
|
|
3,912,000
|
|
1,545,652
|
|
#
|
|
Guangzhou
R&F Properties Co., Ltd.
|
|
1,939,200
|
|
3,113,227
|
|
#
|
|
Hainan
Meilan International Airport Co., Ltd.
|
|
1,891,000
|
|
1,043,297
|
|
#
|
|
Harbin
Power Equipment Co., Ltd.
|
|
6,500,000
|
|
4,862,501
|
|
#
|
|
Hengan
International Group Co., Ltd.
|
|
369,000
|
|
1,538,884
|
|
* #
|
|
Hidili
Industry International Development, Ltd.
|
|
4,722,000
|
|
1,886,759
|
|
|
|
HKC
(Holdings), Ltd.
|
|
13,658,000
|
|
993,684
|
|
#
|
|
Hopson
Development Holdings, Ltd.
|
|
1,568,000
|
|
1,198,726
|
|
#
|
|
Hunan
Non-Ferrous Metal Corp., Ltd.
|
|
5,694,000
|
|
957,762
|
|
* #
|
|
Intime
Department Store Group Co., Ltd.
|
|
2,341,000
|
|
837,199
|
|
#
|
|
Jiangxi
Copper Co., Ltd.
|
|
841,000
|
|
981,183
|
|
*
|
|
Ju
Teng International Holdings, Ltd.
|
|
2,216,000
|
|
965,534
|
|
* #
|
|
KWG
Property Holding, Ltd.
|
|
3,972,000
|
|
1,519,680
|
|
#
|
|
Lenovo
Group, Ltd.
|
|
12,376,000
|
|
3,257,662
|
|
#
|
|
Li
Ning Co., Ltd.
|
|
2,389,000
|
|
4,888,996
|
|
|
|
Lianhua
Supermarket Holdings Co., Ltd.
|
|
1,533,000
|
|
1,817,075
|
|
|
|
Lingbao
Gold Co., Ltd.
|
|
1,042,000
|
|
366,993
|
|
#
|
|
Lonking
Holdings, Ltd.
|
|
1,505,000
|
|
1,133,920
|
|
#
|
|
Maanshan
Iron and Steel Co., Ltd.
|
|
23,244,000
|
|
9,369,146
|
|
#
|
|
Mingyuan
Medicare Development Co., Ltd.
|
|
4,861,900
|
|
354,343
|
|
|
|
Minmetals
Resources, Ltd.
|
|
2,840,000
|
|
480,357
|
|
* #
|
|
Minth
Group, Ltd.
|
|
1,362,000
|
|
838,565
|
|
*
|
|
Nan
Hai Corp., Ltd.
|
|
4,700,000
|
|
40,384
|
|
#
|
|
Neo-China
Land Group (Holdings), Ltd.
|
|
9,446,000
|
|
6,203,849
|
|
#
|
|
Nine
Dragons Paper Holdings, Ltd.
|
|
15,950,000
|
|
7,198,951
|
|
|
|
PetroChina
Co., Ltd. ADR
|
|
32,000
|
|
2,781,120
|
|
* #
|
|
PICC
Property and Casualty Co., Ltd.
|
|
5,992,000
|
|
3,382,196
|
|
#
|
|
Ping
An Insurance (Group) Co. of China, Ltd.
|
|
1,080,000
|
|
6,657,943
|
|
#
|
|
Poly
Hong Kong Investment, Ltd.
|
|
6,160,000
|
|
1,983,778
|
|
#
|
|
Qin
Jia Yuan Media Services Co., Ltd.
|
|
1,935,000
|
|
363,610
|
|
|
|
Qingling
Motors Co., Ltd.
|
|
12,306,000
|
|
1,828,967
|
|
|
|
Qunxing
Paper Holdings Co., Ltd.
|
|
380,000
|
|
131,718
|
|
* #
|
|
Semiconductor
Manufacturing International Corp.
|
|
41,468,000
|
|
1,569,458
|
|
*
|
|
Semiconductor
Manufacturing International Corp. ADR
|
|
892,564
|
|
1,749,425
|
|
* #
|
|
Shandong
Molong Petroleum Machinery Co., Ltd.
|
|
1,676,000
|
|
165,158
|
|
#
|
|
Shanghai
Electric Group Co., Ltd.
|
|
28,750,000
|
|
10,213,223
|
|
* #
|
|
Shanghai
Forte Land Co., Ltd.
|
|
4,814,000
|
|
920,566
|
|
|
|
Shanghai
Industrial Holdings, Ltd.
|
|
7,807,000
|
|
26,450,276
|
|
|
|
Shanghai
Prime Machinery Co., Ltd.
|
|
2,520,000
|
|
422,201
|
|
|
|
Shenzhen
International Holdings, Ltd.
|
|
36,472,500
|
|
1,819,810
|
|
|
|
Shenzhen
Investment, Ltd.
|
|
7,736,000
|
|
2,260,245
|
|
6
|
|
Shenzhou
International Group
|
|
2,012,000
|
|
666,999
|
|
#
|
|
Shimao
Property Holdings, Ltd.
|
|
13,844,500
|
|
15,393,027
|
|
|
|
Shougang
Concord International Enterprises Co., Ltd.
|
|
10,004,000
|
|
1,109,352
|
|
|
|
Shui
On Land, Ltd.
|
|
10,203,000
|
|
4,373,381
|
|
*
|
|
Sichuan
Xinhua Winshare Chainstore Co., Ltd.
|
|
1,549,000
|
|
515,924
|
|
* #
|
|
Sino
Union Petroleum & Chemical International, Ltd.
|
|
6,320,000
|
|
581,569
|
|
#
|
|
Sinofert
Holdings, Ltd.
|
|
1,390,000
|
|
641,076
|
|
|
|
Sinolink
Worldwide Holdings, Ltd.
|
|
6,158,000
|
|
511,513
|
|
*
|
|
Sino-Ocean
Land Holdings, Ltd.
|
|
14,822,000
|
|
10,948,737
|
|
|
|
Sinopec
Kantons Holdings, Ltd.
|
|
9,174,300
|
|
1,531,417
|
|
|
|
Sinopec
Shanghai Petrochemical Co., Ltd. Sponsored ADR
|
|
195,172
|
|
6,633,896
|
|
* #
|
|
Sinopec
Yizheng Chemical Fibre Co., Ltd.
|
|
23,568,000
|
|
4,124,653
|
|
|
|
Sinotrans,
Ltd.
|
|
26,720,000
|
|
4,918,603
|
|
|
|
Skyworth
Digital Holdings, Ltd.
|
|
4,444,000
|
|
450,141
|
|
|
|
SRE
Group, Ltd.
|
|
9,996,000
|
|
830,940
|
|
*
|
|
TCL
Multimedia Technology Holdings, Ltd.
|
|
2,354,200
|
|
449,074
|
|
|
|
Tian
An China Investments Co., Ltd.
|
|
7,396,000
|
|
2,462,121
|
|
* #
|
|
Tianjin
Port Development Holdings, Ltd.
|
|
2,496,000
|
|
625,501
|
|
|
|
TPV
Technology, Ltd.
|
|
4,530,000
|
|
1,496,347
|
|
* #
|
|
Travelsky
Technology, Ltd.
|
|
8,035,000
|
|
4,223,204
|
|
#
|
|
Tsingtao
Brewery Co., Ltd.
|
|
194,000
|
|
497,047
|
|
* #
|
|
Vinda
International Holdings, Ltd.
|
|
1,240,000
|
|
635,821
|
|
* #
|
|
Wasion
Group Holdings, Ltd.
|
|
768,000
|
|
388,975
|
|
|
|
Weichai
Power Co., Ltd.
|
|
97,600
|
|
276,815
|
|
|
|
Weiqiao
Textile Co., Ltd.
|
|
687,500
|
|
273,760
|
|
|
|
Xiamen
International Port Co., Ltd.
|
|
4,290,000
|
|
662,811
|
|
* #
|
|
Xingda
International Holdings, Ltd.
|
|
2,176,000
|
|
383,717
|
|
* #
|
|
Xinjiang
Xinxin Mining Industry Co., Ltd.
|
|
3,674,000
|
|
1,382,033
|
|
#
|
|
Xinyu
Hengdeli Holdings, Ltd.
|
|
1,140,000
|
|
291,906
|
|
#
|
|
Yanzhou
Coal Mining Co., Ltd. Sponsored ADR
|
|
581,500
|
|
5,564,955
|
|
|
|
Zijin
Mining Group Co., Ltd.
|
|
2,610,000
|
|
1,995,686
|
|
TOTAL
COMMON STOCKS
|
|
|
|
623,207,844
|
|
|
|
|
|
|
|
RIGHTS/WARRANTS
(0.0%)
|
|
|
|
|
|
*
|
|
HKC
(Holdings), Ltd. Warrants 11/26/11
|
|
1,365,800
|
|
29,959
|
|
*
|
|
Hong
Kong Energy Holdings, Ltd. Warrants 11/26/11
|
|
94,841
|
|
1,591
|
|
TOTAL
RIGHTS/WARRANTS
|
|
|
|
31,550
|
|
|
|
|
|
|
|
TOTAL
CHINA
|
|
|
|
623,239,394
|
|
|
|
|
|
|
|
CZECH
REPUBLIC (0.4%)
|
|
|
|
|
|
COMMON
STOCKS (0.4%)
|
|
|
|
|
|
|
|
CEZ
A.S.
|
|
74,076
|
|
3,043,574
|
|
#
|
|
Komercni
Banka A.S.
|
|
30,022
|
|
4,019,427
|
|
*
|
|
Phillip
Morris CR A.S.
|
|
954
|
|
256,704
|
|
|
|
Telefonica
02 Czech Republic A.S.
|
|
483,829
|
|
10,299,127
|
|
|
|
Unipetrol
A.S.
|
|
1,050,841
|
|
6,115,993
|
|
|
|
|
|
|
|
TOTAL
CZECH REPUBLIC
|
|
|
|
23,734,825
|
|
7
HUNGARY
(1.5%)
|
|
|
|
|
|
COMMON
STOCKS (1.5%)
|
|
|
|
|
|
*
|
|
Danubius
Hotel & Spa NYRT
|
|
136,180
|
|
2,264,415
|
|
*
|
|
Egis
Gyogyszergyar NYRT
|
|
53,017
|
|
2,931,093
|
|
* #
|
|
Fotex
Holding SE Co., Ltd.
|
|
913,849
|
|
1,199,731
|
|
#
|
|
MOL
Hungarian Oil & Gas NYRT
|
|
900,693
|
|
42,912,990
|
|
* #
|
|
OTP
Bank NYRT
|
|
2,347,218
|
|
30,231,580
|
|
* #
|
|
Pannonplast
NYRT
|
|
536,826
|
|
2,248,811
|
|
* #
|
|
Synergon
Information Systems
|
|
75,249
|
|
176,464
|
|
#
|
|
Tisza
Chemical Group NYRT
|
|
237,913
|
|
2,193,542
|
|
|
|
Zwack
Unicum NYRT
|
|
387
|
|
21,788
|
|
|
|
|
|
|
|
TOTAL
HUNGARY
|
|
|
|
84,180,414
|
|
|
|
|
|
|
|
INDIA
(10.0%)
|
|
|
|
|
|
COMMON
STOCKS (10.0%)
|
|
|
|
|
|
*
|
|
Abhishek
Industries, Ltd.
|
|
92,524
|
|
16,986
|
|
|
|
Adani
Enterprises, Ltd.
|
|
565,071
|
|
4,800,573
|
|
|
|
Aditya
Birla Nuvo, Ltd.
|
|
242,035
|
|
2,580,399
|
|
|
|
Adlabs
Films, Ltd.
|
|
86,755
|
|
384,781
|
|
|
|
Aftek,
Ltd.
|
|
420,648
|
|
78,350
|
|
*
|
|
Agro
Tech Foods, Ltd.
|
|
136,705
|
|
287,824
|
|
|
|
Alembic,
Ltd.
|
|
619,600
|
|
471,497
|
|
*
|
|
Allahabad
Bank, Ltd.
|
|
1,091,889
|
|
1,156,832
|
|
|
|
Alok
Industries, Ltd.
|
|
2,956,318
|
|
801,051
|
|
|
|
Ambuja
Cements, Ltd.
|
|
3,753,732
|
|
6,114,833
|
|
|
|
Amtek
Auto, Ltd.
|
|
421,027
|
|
799,086
|
|
*
|
|
Andhra
Bank
|
|
214,950
|
|
240,874
|
|
|
|
Apollo
Hospitals Enterprise, Ltd.
|
|
153,288
|
|
1,186,140
|
|
|
|
Apollo
Tyres, Ltd.
|
|
1,676,970
|
|
726,766
|
|
*
|
|
Arvind
Mills, Ltd.
|
|
1,330,891
|
|
501,057
|
|
|
|
Ashapura
Minechem, Ltd.
|
|
36,874
|
|
20,155
|
|
|
|
Ashok
Leyland, Ltd.
|
|
6,240,668
|
|
2,690,650
|
|
|
|
Asian
Hotels, Ltd.
|
|
2,100
|
|
9,979
|
|
|
|
Aurobindo
Pharma, Ltd.
|
|
264,370
|
|
1,179,482
|
|
|
|
Avaya
GlobalConnect, Ltd.
|
|
21,933
|
|
35,367
|
|
|
|
Axis
Bank, Ltd.
|
|
770,561
|
|
8,610,688
|
|
|
|
Bajaj
Auto Finance, Ltd.
|
|
90,482
|
|
163,202
|
|
|
|
Bajaj
Auto, Ltd.
|
|
66,284
|
|
843,001
|
|
|
|
Bajaj
Finserv, Ltd.
|
|
66,284
|
|
292,270
|
|
|
|
Bajaj
Hindusthan, Ltd.
|
|
796,167
|
|
1,204,102
|
|
|
|
Bajaj
Holdings and Investment, Ltd.
|
|
121,984
|
|
840,077
|
|
|
|
Balaji
Telefilms, Ltd.
|
|
204,578
|
|
183,217
|
|
|
|
Ballarpur
Industries, Ltd.
|
|
2,658,186
|
|
850,553
|
|
|
|
Balmer
Lawrie & Co., Ltd.
|
|
48,430
|
|
265,659
|
|
|
|
Balrampur
Chini Mills, Ltd.
|
|
1,479,344
|
|
2,084,833
|
|
|
|
Bank
of Maharashtra, Ltd.
|
|
410,000
|
|
193,187
|
|
|
|
Bank
of Rajasthan, Ltd.
|
|
527,425
|
|
453,882
|
|
|
|
Bata
India, Ltd.
|
|
98,732
|
|
245,765
|
|
|
|
BEML,
Ltd.
|
|
133,202
|
|
1,393,036
|
|
*
|
|
Bengal
and Assam Co., Ltd. - Private C
|
|
9,237
|
|
7,721
|
|
|
|
Bharat
Forge, Ltd.
|
|
753,769
|
|
1,901,000
|
|
|
|
Bharati
Shipyard, Ltd.
|
|
30,210
|
|
49,150
|
|
|
|
Bhushan
Steel & Strips, Ltd.
|
|
189,156
|
|
1,574,775
|
|
8
|
|
Biocon,
Ltd.
|
|
558,142
|
|
1,591,022
|
|
|
|
Birla
Corp., Ltd.
|
|
46,445
|
|
187,082
|
|
|
|
Blue
Star Infotech, Ltd.
|
|
12,900
|
|
13,548
|
|
|
|
Bombay
Dyeing & Manufacturing Co., Ltd.
|
|
63,829
|
|
223,404
|
|
*
|
|
Bombay
Rayon Fashions, Ltd.
|
|
252,000
|
|
870,154
|
|
|
|
Cadila
Healthcare, Ltd.
|
|
19,500
|
|
119,855
|
|
*
|
|
Cairn
India, Ltd.
|
|
2,162,402
|
|
8,096,516
|
|
|
|
Century
Enka, Ltd.
|
|
133,495
|
|
194,009
|
|
|
|
Century
Textiles & Industries, Ltd.
|
|
345,830
|
|
1,600,057
|
|
|
|
Chambal
Fertilizers & Chemicals, Ltd.
|
|
1,344,619
|
|
1,193,350
|
|
*
|
|
Chi
Investments, Ltd.
|
|
34,117
|
|
14,708
|
|
|
|
Cholamandalam
DBS Finance, Ltd.
|
|
477
|
|
405
|
|
|
|
City
Union Bank, Ltd.
|
|
839,100
|
|
280,291
|
|
|
|
Clariant
Chemicals (India), Ltd.
|
|
2,398
|
|
8,368
|
|
|
|
Coromandel
Fertilisers, Ltd.
|
|
136,536
|
|
336,495
|
|
|
|
Cranes
Software International, Ltd.
|
|
313,759
|
|
284,151
|
|
|
|
Cummins
India, Ltd.
|
|
50,000
|
|
204,612
|
|
|
|
Dalmia
Cement (Bharat), Ltd.
|
|
28,800
|
|
51,339
|
|
|
|
DCM
Shriram Consolidated, Ltd.
|
|
210,988
|
|
126,790
|
|
|
|
Deepak
Fertilizers & Petrochemicals Corp., Ltd.
|
|
386,267
|
|
531,946
|
|
*
|
|
Dish
TV (India), Ltd.
|
|
617,884
|
|
403,791
|
|
|
|
DLF,
Ltd.
|
|
32,456
|
|
150,897
|
|
|
|
D-Link
(India), Ltd.
|
|
118,369
|
|
107,213
|
|
|
|
Dr. Reddys
Laboratories, Ltd.
|
|
617,398
|
|
6,783,821
|
|
|
|
E.I.D.
- Parry (India), Ltd.
|
|
357,212
|
|
1,221,623
|
|
|
|
Eicher
Motors, Ltd.
|
|
28,098
|
|
116,827
|
|
|
|
EIH,
Ltd.
|
|
894,287
|
|
2,025,867
|
|
|
|
Elder
Pharmaceuticals, Ltd.
|
|
97,715
|
|
402,168
|
|
|
|
Electrosteel
Casings, Ltd.
|
|
513,690
|
|
212,899
|
|
|
|
Elgi
Equipments, Ltd.
|
|
174,405
|
|
124,256
|
|
*
|
|
Escorts,
Ltd.
|
|
388,991
|
|
319,082
|
|
|
|
Essel
Propack, Ltd.
|
|
442,637
|
|
141,791
|
|
*
|
|
Eveready
Industries (India), Ltd.
|
|
351,390
|
|
163,548
|
|
|
|
Everest
Industries, Ltd.
|
|
23,275
|
|
30,174
|
|
|
|
Exide
Industries, Ltd.
|
|
1,150,517
|
|
1,207,426
|
|
|
|
FAG
Bearings (India), Ltd.
|
|
500
|
|
3,008
|
|
|
|
FDC,
Ltd.
|
|
179,858
|
|
120,616
|
|
|
|
Federal
Bank, Ltd.
|
|
1,309,612
|
|
4,939,395
|
|
|
|
Financial
Technologies (India), Ltd.
|
|
87,301
|
|
1,247,152
|
|
|
|
Finolex
Cables, Ltd.
|
|
537,055
|
|
256,679
|
|
|
|
Finolex
Industries, Ltd.
|
|
695,629
|
|
437,969
|
|
*
|
|
Fortis
Healthcare, Ltd.
|
|
147,259
|
|
200,387
|
|
|
|
Gammon
India, Ltd.
|
|
377,404
|
|
570,816
|
|
|
|
Garden
Silk Mills, Ltd.
|
|
52,000
|
|
49,505
|
|
|
|
Geometric,
Ltd.
|
|
73,022
|
|
28,779
|
|
|
|
Gitanjali
Gems, Ltd.
|
|
236,343
|
|
317,215
|
|
|
|
GlaxoSmithKline
Consumer Healthcare, Ltd.
|
|
5,598
|
|
92,924
|
|
|
|
Godrej
Industries, Ltd.
|
|
106,644
|
|
157,740
|
|
*
|
|
Goetze
(India), Ltd.
|
|
9,785
|
|
7,500
|
|
|
|
Graphite
India, Ltd.
|
|
89,000
|
|
56,331
|
|
|
|
Great
Eastern Shipping Co., Ltd.
|
|
645,773
|
|
2,676,687
|
|
|
|
Great
Offshore, Ltd.
|
|
162,012
|
|
898,339
|
|
9
|
|
GTL,
Ltd.
|
|
525,227
|
|
2,672,037
|
|
|
|
Gujarat
Alkalies & Chemicals, Ltd.
|
|
421,803
|
|
633,307
|
|
|
|
Gujarat
Fluorochemicals, Ltd.
|
|
101,490
|
|
158,085
|
|
|
|
Gujarat
Narmada Valley Fertilizers Co., Ltd.
|
|
647,256
|
|
879,973
|
|
|
|
Gujarat
State Fertilizers & Chemicals, Ltd.
|
|
445,889
|
|
1,015,882
|
|
|
|
H.E.G.,
Ltd.
|
|
129,459
|
|
313,295
|
|
|
|
HCL
Infosystems, Ltd.
|
|
273,865
|
|
514,720
|
|
|
|
HCL
Technologies, Ltd.
|
|
1,206,145
|
|
3,166,778
|
|
*
|
|
HDFC
Bank, Ltd.
|
|
241,906
|
|
5,364,865
|
|
|
|
Hexaware
Technologies, Ltd.
|
|
358,877
|
|
221,745
|
|
*
|
|
Himachal
Futuristic Communications, Ltd.
|
|
504,605
|
|
90,156
|
|
*
|
|
Himatsingka
Seide, Ltd.
|
|
137,216
|
|
71,632
|
|
*
|
|
Hindalco
Industries, Ltd.
|
|
1,460,000
|
|
1,602,948
|
|
|
|
Hinduja
Global Solutions, Ltd.
|
|
65,909
|
|
166,195
|
|
|
|
Hinduja
Ventures, Ltd.
|
|
65,909
|
|
174,504
|
|
|
|
Hindustan
Construction Co., Ltd.
|
|
1,176,506
|
|
1,327,567
|
|
*
|
|
Hindustan
Motors, Ltd.
|
|
383,680
|
|
125,457
|
|
|
|
Hotel
Leelaventure, Ltd.
|
|
1,357,335
|
|
597,155
|
|
*
|
|
Housing
Development & Infrastructure, Ltd.
|
|
311,037
|
|
920,408
|
|
|
|
HSIL,
Ltd.
|
|
24,608
|
|
13,926
|
|
|
|
ICI
India, Ltd.
|
|
47,767
|
|
425,218
|
|
#
|
|
ICICI
Bank, Ltd. Sponsored ADR
|
|
2,566,680
|
|
52,950,608
|
|
*
|
|
ICSA
(India), Ltd.
|
|
38,000
|
|
87,756
|
|
|
|
IDBI
Bank, Ltd.
|
|
2,294,413
|
|
2,936,465
|
|
|
|
India
Cements, Ltd.
|
|
2,016,703
|
|
4,679,705
|
|
|
|
India
Glycols, Ltd.
|
|
115,658
|
|
132,919
|
|
*
|
|
India
Infoline, Ltd.
|
|
904,308
|
|
1,397,440
|
|
|
|
Indiabulls
Financial Services, Ltd.
|
|
563,268
|
|
1,280,993
|
|
|
|
Indiabulls
Real Estate, Ltd.
|
|
1,363,576
|
|
3,553,090
|
|
|
|
Indiabulls
Securities, Ltd.
|
|
6,234
|
|
3,618
|
|
*
|
|
Indian
Hotels Co., Ltd.
|
|
3,531,468
|
|
3,518,455
|
|
|
|
Indian
Oil Corp., Ltd.
|
|
8,798
|
|
78,110
|
|
*
|
|
Indian
Overseas Bank
|
|
580,717
|
|
753,966
|
|
|
|
Indo
Rama Synthetics (India), Ltd.
|
|
202,314
|
|
112,555
|
|
|
|
Indoco
Remedies, Ltd.
|
|
500
|
|
1,428
|
|
|
|
IndusInd
Bank, Ltd.
|
|
1,771,067
|
|
1,451,967
|
|
|
|
INEIS
ABS India, Ltd.
|
|
32,052
|
|
61,668
|
|
|
|
Infrastructure
Development Finance Co., Ltd.
|
|
5,645,233
|
|
8,725,110
|
|
|
|
Ipca
Laboratories, Ltd.
|
|
94,786
|
|
761,534
|
|
|
|
IVRCL
Infrastructures & Projects, Ltd.
|
|
1,432,050
|
|
4,589,120
|
|
|
|
J.B.
Chemicals & Pharmaceuticals, Ltd.
|
|
377,474
|
|
288,600
|
|
|
|
Jaiprakash
Associates, Ltd.
|
|
363,710
|
|
1,018,268
|
|
|
|
Jammu &
Kashmir Bank, Ltd.
|
|
222,503
|
|
1,415,623
|
|
|
|
JBF
Industries, Ltd.
|
|
35,983
|
|
31,269
|
|
*
|
|
Jet
Airways (India), Ltd.
|
|
244,572
|
|
956,235
|
|
|
|
Jindal
Poly Films, Ltd.
|
|
21,594
|
|
116,376
|
|
*
|
|
Jindal
Saw, Ltd.
|
|
233,794
|
|
993,670
|
|
|
|
Jindal
Steel & Power, Ltd.
|
|
326,145
|
|
10,708,547
|
|
*
|
|
JK
Tyre and Industries, Ltd.
|
|
158,673
|
|
165,874
|
|
|
|
JSL,
Ltd.
|
|
726,612
|
|
862,761
|
|
|
|
JSW
Steel, Ltd.
|
|
1,091,845
|
|
7,425,202
|
|
|
|
Jubilant
Organosys, Ltd.
|
|
142,288
|
|
335,481
|
|
10
|
|
Karnataka
Bank, Ltd.
|
|
320,228
|
|
528,157
|
|
|
|
Karur
Vysya Bank, Ltd.
|
|
87,485
|
|
417,503
|
|
|
|
Kesoram
Industries, Ltd.
|
|
204,223
|
|
634,160
|
|
|
|
Kirloskar
Oil Engines, Ltd.
|
|
458,360
|
|
483,338
|
|
*
|
|
Kotak
Mahindra Bank, Ltd.
|
|
74,000
|
|
575,833
|
|
|
|
Lakshmi
Machine Works, Ltd.
|
|
3,835
|
|
45,655
|
|
*
|
|
Landmark
Property Development Co., Ltd.
|
|
246,234
|
|
26,019
|
|
|
|
LIC
Housing Finance, Ltd.
|
|
518,887
|
|
3,817,137
|
|
|
|
Maharashtra
Scooters, Ltd.
|
|
13,612
|
|
22,551
|
|
|
|
Maharashtra
Seamless, Ltd.
|
|
68,564
|
|
221,322
|
|
|
|
Mahindra &
Mahindra, Ltd.
|
|
1,184,703
|
|
11,588,482
|
|
|
|
Mahindra
Lifespace Developers, Ltd.
|
|
92,412
|
|
315,350
|
|
|
|
Maruti
Suzuki India, Ltd.
|
|
544,780
|
|
8,963,233
|
|
|
|
Mastek,
Ltd.
|
|
83,250
|
|
234,624
|
|
*
|
|
Matrix
Laboratories, Ltd.
|
|
490,684
|
|
1,482,574
|
|
*
|
|
MAX
India, Ltd.
|
|
3,100
|
|
8,848
|
|
|
|
Megasoft,
Ltd.
|
|
60,998
|
|
24,094
|
|
|
|
Mercator
Lines, Ltd.
|
|
1,524,731
|
|
1,056,334
|
|
|
|
Merck,
Ltd.
|
|
29,241
|
|
197,681
|
|
|
|
MIRC
Electronics, Ltd.
|
|
229,924
|
|
64,421
|
|
|
|
Mirza
International, Ltd.
|
|
5,000
|
|
1,006
|
|
|
|
Monnet
Ispat, Ltd.
|
|
85,565
|
|
310,567
|
|
|
|
Monsanto
India, Ltd.
|
|
1,817
|
|
50,700
|
|
|
|
Moser
Baer (India), Ltd.
|
|
1,516,872
|
|
2,019,727
|
|
|
|
Mphasis,
Ltd.
|
|
292,087
|
|
1,318,309
|
|
|
|
MRF,
Ltd.
|
|
17,453
|
|
786,278
|
|
|
|
Mukand,
Ltd.
|
|
379,410
|
|
213,544
|
|
|
|
Mukta
Arts, Ltd.
|
|
30,300
|
|
23,605
|
|
|
|
Nagarjuna
Construction Co., Ltd.
|
|
1,407,751
|
|
1,965,915
|
|
*
|
|
Nagarjuna
Fertilizers & Chemicals, Ltd.
|
|
1,310,174
|
|
589,769
|
|
|
|
Nahar
Capital & Financial Services, Ltd.
|
|
51,549
|
|
24,629
|
|
|
|
Nahar
Spinning Mills, Ltd.
|
|
51,549
|
|
25,599
|
|
*
|
|
Navneet
Publications (India), Ltd.
|
|
118,740
|
|
123,704
|
|
|
|
NIIT
Technologies, Ltd.
|
|
190,440
|
|
267,005
|
|
|
|
NIIT,
Ltd.
|
|
149,557
|
|
79,454
|
|
|
|
Nirma,
Ltd.
|
|
286,992
|
|
686,465
|
|
|
|
NOCIL,
Ltd.
|
|
981,740
|
|
315,067
|
|
|
|
OCL
India, Ltd.
|
|
82,078
|
|
115,626
|
|
*
|
|
OCL
Iron & Steel, Ltd.
|
|
246,234
|
|
67,018
|
|
|
|
Omax
Autos, Ltd.
|
|
64,810
|
|
28,362
|
|
*
|
|
Oracle
Financial Services Software, Ltd.
|
|
27,422
|
|
488,151
|
|
|
|
Orchid
Chemicals & Pharmaceuticals, Ltd.
|
|
445,419
|
|
860,318
|
|
|
|
Orient
Paper and Industries, Ltd.
|
|
53,000
|
|
33,641
|
|
*
|
|
Oriental
Bank of Commerce
|
|
155,038
|
|
410,461
|
|
|
|
Panacea
Biotec, Ltd.
|
|
39,063
|
|
57,998
|
|
|
|
Patel
Engineering, Ltd.
|
|
17,847
|
|
61,473
|
|
|
|
Patni
Computer Systems, Ltd.
|
|
420,187
|
|
1,365,201
|
|
*
|
|
Patni
Computer Systems, Ltd. ADR
|
|
55,441
|
|
432,440
|
|
|
|
Petronet
LNG, Ltd.
|
|
1,980,242
|
|
2,056,637
|
|
|
|
Polaris
Software Lab, Ltd.
|
|
396,842
|
|
525,861
|
|
|
|
Prism
Cements, Ltd.
|
|
358,139
|
|
195,586
|
|
|
|
PSL,
Ltd.
|
|
62,792
|
|
115,649
|
|
11
|
|
PTC
India, Ltd.
|
|
1,047,317
|
|
1,494,129
|
|
*
|
|
Punj
Lloyd, Ltd.
|
|
743,216
|
|
1,735,029
|
|
|
|
Rain
Commodities, Ltd.
|
|
215,083
|
|
394,708
|
|
|
|
Rallis
India, Ltd.
|
|
15,926
|
|
167,882
|
|
|
|
Raymond,
Ltd.
|
|
311,315
|
|
541,699
|
|
|
|
REI
Agro, Ltd.
|
|
1,174,080
|
|
1,404,092
|
|
*
|
|
Rei
Six Ten Retail, Ltd.
|
|
88,056
|
|
1,990,433
|
|
|
|
Reliance
Capital, Ltd.
|
|
962,940
|
|
10,193,087
|
|
|
|
Reliance
Communications, Ltd.
|
|
4,454,118
|
|
19,353,325
|
|
|
|
Reliance
Industries, Ltd.
|
|
4,888,665
|
|
177,718,181
|
|
*
|
|
Reliance
Natural Resources, Ltd.
|
|
3,800,245
|
|
4,330,131
|
|
|
|
Rico
Auto Industries, Ltd.
|
|
160,452
|
|
43,360
|
|
|
|
Rolta
India, Ltd.
|
|
730,580
|
|
1,173,082
|
|
|
|
Ruchi
Soya Industries, Ltd.
|
|
966,355
|
|
545,023
|
|
*
|
|
SEAMEC,
Ltd.
|
|
51,335
|
|
96,334
|
|
|
|
Sesa
Goa, Ltd.
|
|
174,000
|
|
391,853
|
|
|
|
Shriram
Transport Finance Co., Ltd.
|
|
105,855
|
|
472,751
|
|
*
|
|
Sicagen
India, Ltd.
|
|
3,414
|
|
344
|
|
*
|
|
Sical
Logistics, Ltd.
|
|
3,414
|
|
1,665
|
|
|
|
SKF
India, Ltd.
|
|
15,701
|
|
56,670
|
|
|
|
Sona
Koyo Steering Systems, Ltd.
|
|
118,568
|
|
22,209
|
|
|
|
Sonata
Software, Ltd.
|
|
457,576
|
|
179,642
|
|
|
|
South
India Bank, Ltd.
|
|
364,941
|
|
464,715
|
|
|
|
SREI
Infrastructure Finance, Ltd.
|
|
645,356
|
|
509,644
|
|
|
|
SRF,
Ltd.
|
|
266,306
|
|
457,756
|
|
*
|
|
State
Bank of India, Ltd.
|
|
339,946
|
|
8,767,289
|
|
|
|
Sterlite
Industries (India), Ltd. ADR
|
|
158,521
|
|
1,345,843
|
|
|
|
Sterlite
Industries (India), Ltd. Series A
|
|
1,436,564
|
|
11,964,427
|
|
|
|
Sterlite
Technologies, Ltd.
|
|
274,890
|
|
489,635
|
|
*
|
|
Strides
Arcolab, Ltd.
|
|
126,300
|
|
244,255
|
|
|
|
Subros,
Ltd.
|
|
73,890
|
|
29,451
|
|
|
|
Sundram
Fastners, Ltd.
|
|
38,520
|
|
15,593
|
|
|
|
Supreme
Petrochem, Ltd.
|
|
101,631
|
|
33,206
|
|
|
|
Suzlon
Energy, Ltd.
|
|
2,000,000
|
|
2,567,675
|
|
|
|
Swaraj
Engines, Ltd.
|
|
14,132
|
|
31,815
|
|
|
|
Syndicate
Bank
|
|
1,422,728
|
|
1,647,407
|
|
|
|
Tata
Chemicals, Ltd.
|
|
763,975
|
|
2,633,590
|
|
#
|
|
Tata
Communications, Ltd. ADR
|
|
20,500
|
|
472,730
|
|
|
|
Tata
Investment Corp., Ltd.
|
|
57,960
|
|
307,724
|
|
|
|
Tata
Metaliks, Ltd.
|
|
26,681
|
|
34,689
|
|
|
|
Tata
Motors, Ltd.
|
|
898,261
|
|
4,424,048
|
|
#
|
|
Tata
Motors, Ltd. Sponsored ADR
|
|
235,382
|
|
1,814,795
|
|
|
|
Tata
Steel, Ltd.
|
|
2,285,578
|
|
10,995,049
|
|
|
|
Tata
Tea, Ltd.
|
|
257,458
|
|
3,504,826
|
|
*
|
|
Teledata
Marine Solutions, Ltd.
|
|
267,258
|
|
182,944
|
|
*
|
|
Teledata
Technology Solution
|
|
267,258
|
|
182,944
|
|
|
|
Trent,
Ltd.
|
|
14,497
|
|
93,092
|
|
|
|
Triveni
Engineering & Industries, Ltd.
|
|
240,000
|
|
251,908
|
|
|
|
Tube
Investments of India, Ltd.
|
|
486,775
|
|
303,781
|
|
|
|
TVS
Motor Co., Ltd.
|
|
1,082,101
|
|
723,763
|
|
|
|
Ucal
Fuel Systems, Ltd.
|
|
24,245
|
|
16,084
|
|
|
|
Unichem
Laboratories, Ltd.
|
|
64,206
|
|
209,716
|
|
12
*
|
|
Union
Bank of India, Ltd.
|
|
400,000
|
|
1,325,234
|
|
|
|
Unitech,
Ltd.
|
|
388,598
|
|
347,830
|
|
|
|
United
Phosphorus, Ltd.
|
|
530,310
|
|
1,219,961
|
|
|
|
Usha
Martin, Ltd.
|
|
1,017,075
|
|
715,352
|
|
*
|
|
Uttam
Galva Steels, Ltd.
|
|
305,386
|
|
181,710
|
|
|
|
Vardhman
Textiles, Ltd.
|
|
88,383
|
|
115,256
|
|
|
|
Varun
Shipping Co., Ltd.
|
|
549,032
|
|
508,109
|
|
|
|
Videocon
Industries, Ltd.
|
|
126,483
|
|
278,904
|
|
|
|
Videsh
Sanchar Nigam, Ltd.
|
|
727,705
|
|
8,087,887
|
|
*
|
|
Welspun
India, Ltd.
|
|
37,142
|
|
20,280
|
|
|
|
Welspun-Gujarat
Stahl Rohren, Ltd.
|
|
824,452
|
|
1,677,512
|
|
*
|
|
Wire &
Wireless India, Ltd.
|
|
434,815
|
|
118,208
|
|
*
|
|
Wockhardt,
Ltd.
|
|
186,126
|
|
336,746
|
|
|
|
Wyeth,
Ltd.
|
|
6,540
|
|
61,333
|
|
*
|
|
Yes
Bank, Ltd.
|
|
407,120
|
|
635,739
|
|
|
|
Zee
Entertainment Enterprises, Ltd.
|
|
1,795,929
|
|
4,096,379
|
|
|
|
Zee
News, Ltd.
|
|
726,155
|
|
481,088
|
|
|
|
Zensar
Technologies, Ltd.
|
|
68,072
|
|
133,768
|
|
|
|
Zuari
Industries, Ltd.
|
|
127,958
|
|
444,396
|
|
*
|
|
Zydus
Wellness, Ltd.
|
|
5,200
|
|
7,316
|
|
TOTAL
COMMON STOCKS
|
|
|
|
562,631,705
|
|
|
|
|
|
|
|
PREFERRED
STOCKS (0.0%)
|
|
|
|
|
|
*
|
|
Ispat
Industries, Ltd.
|
|
1,463,759
|
|
81,330
|
|
|
|
Tata
Steel, Ltd.
|
|
1,714,184
|
|
1,331,273
|
|
TOTAL
PREFERRED STOCKS
|
|
|
|
1,412,603
|
|
|
|
|
|
|
|
TOTAL
INDIA
|
|
|
|
564,044,308
|
|
|
|
|
|
|
|
INDONESIA
(2.1%)
|
|
|
|
|
|
COMMON
STOCKS (2.1%)
|
|
|
|
|
|
*
|
|
PT
Agis Tbk
|
|
2,012,000
|
|
12,454
|
|
*
|
|
PT
Apac Citra Centretex Tbk
|
|
774,000
|
|
3,729
|
|
|
|
PT
Asahimas Flat Glass Tbk
|
|
5,333,500
|
|
781,336
|
|
|
|
PT
Astra Agro Lestari Tbk
|
|
456,500
|
|
674,626
|
|
|
|
PT
Astra Graphia Tbk
|
|
22,838,000
|
|
681,926
|
|
|
|
PT
Astra International Tbk
|
|
9,605,400
|
|
16,184,325
|
|
*
|
|
PT
Bakrie & Brothers Tbk
|
|
98,676,250
|
|
787,318
|
|
*
|
|
PT
Bakrieland Development Tbk
|
|
212,850,250
|
|
3,278,966
|
|
|
|
PT
Bank Central Asia Tbk
|
|
9,100,000
|
|
2,852,688
|
|
|
|
PT
Bank Danamon Indonesia Tbk
|
|
22,284,803
|
|
6,513,621
|
|
*
|
|
PT
Bank Pan Indonesia Tbk
|
|
122,107,326
|
|
6,969,390
|
|
|
|
PT
Bank Rakyat Indonesia Tbk
|
|
3,070,000
|
|
1,665,605
|
|
|
|
PT
Berlian Laju Tanker Tbk
|
|
52,474,300
|
|
3,197,460
|
|
|
|
PT
Bhakti Investama Tbk
|
|
57,723,175
|
|
825,379
|
|
|
|
PT
Budi Acid Jaya Tbk
|
|
22,530,000
|
|
299,854
|
|
*
|
|
PT
Central Proteinaprima Tbk
|
|
9,800,000
|
|
78,325
|
|
*
|
|
PT
Charoen Pokphand Indonesia Tbk
|
|
31,047,166
|
|
1,424,742
|
|
*
|
|
PT
Ciputra Development Tbk
|
|
1,100,000
|
|
49,538
|
|
*
|
|
PT
Ciputra Surya Tbk
|
|
17,718,000
|
|
680,218
|
|
*
|
|
PT
Clipan Finance Indonesia Tbk
|
|
12,461,000
|
|
180,584
|
|
13
*
|
|
PT
Davomas Adabi Tbk
|
|
139,739,500
|
|
920,146
|
|
*
|
|
PT
Dynaplast Tbk
|
|
3,040,000
|
|
244,119
|
|
*
|
|
PT
Energi Mega Persada Tbk
|
|
7,300,000
|
|
150,597
|
|
*
|
|
PT
Ever Shine Textile Tbk
|
|
19,347,215
|
|
108,754
|
|
*
|
|
PT
Global Mediacom Tbk
|
|
3,542,000
|
|
62,125
|
|
*
|
|
PT
Great River International Tbk
|
|
1,788,000
|
|
|
|
|
|
PT
Gudang Garam Tbk
|
|
3,758,500
|
|
2,630,804
|
|
*
|
|
PT
Hero Supermarket Tbk
|
|
220,000
|
|
83,136
|
|
|
|
PT
Indocement Tunggal Prakarsa Tbk
|
|
2,096,000
|
|
1,149,067
|
|
|
|
PT
Indofood Sukses Makmur Tbk
|
|
47,811,000
|
|
5,731,556
|
|
|
|
PT
Indo-Rama Synthetics Tbk
|
|
9,627,320
|
|
393,229
|
|
*
|
|
PT
International Nickel Indonesia Tbk
|
|
36,038,000
|
|
11,536,156
|
|
|
|
PT
Jaya Real Property Tbk
|
|
25,528,000
|
|
1,205,857
|
|
|
|
PT
Kalbe Farma Tbk
|
|
30,353,500
|
|
2,561,318
|
|
|
|
PT
Lautan Luas Tbk
|
|
2,102,000
|
|
153,452
|
|
*
|
|
PT
Lippo Karawaci Tbk
|
|
73,163,250
|
|
5,567,742
|
|
*
|
|
PT
Matahari Putra Prima Tbk
|
|
35,296,900
|
|
1,932,242
|
|
|
|
PT
Mayorah Indah Tbk
|
|
8,807,572
|
|
1,060,435
|
|
*
|
|
PT
Medco Energi International Tbk
|
|
28,781,500
|
|
7,080,330
|
|
|
|
PT
Mitra Adiperkasa Tbk
|
|
3,033,000
|
|
89,565
|
|
*
|
|
PT
Modern Photo Tbk
|
|
1,266,500
|
|
15,076
|
|
*
|
|
PT
Panasia Indosyntec Tbk
|
|
403,200
|
|
15,237
|
|
*
|
|
PT
Panin Insurance Tbk
|
|
30,688,500
|
|
555,984
|
|
*
|
|
PT
Panin Life Tbk
|
|
65,323,500
|
|
482,680
|
|
*
|
|
PT
Petrosea Tbk
|
|
76,000
|
|
70,100
|
|
*
|
|
PT
Polychem Indonesia Tbk
|
|
14,413,500
|
|
97,548
|
|
|
|
PT
Ramayana Lestari Sentosa Tbk
|
|
3,531,500
|
|
157,732
|
|
|
|
PT
Samudera Indonesia Tbk
|
|
415,500
|
|
144,933
|
|
|
|
PT
Selamat Semp Tbk
|
|
10,624,000
|
|
250,921
|
|
|
|
PT
Semen Gresik Tbk
|
|
52,474,410
|
|
20,114,498
|
|
|
|
PT
Sinar Mas Agro Resources & Technology Tbk
|
|
8,060,400
|
|
1,635,614
|
|
*
|
|
PT
Sumalindo Lestari Jaya Tbk
|
|
1,026,000
|
|
39,824
|
|
|
|
PT
Summarecon Agung Tbk
|
|
16,091,000
|
|
393,282
|
|
*
|
|
PT
Sunson Textile Manufacturer Tbk
|
|
6,012,000
|
|
141,993
|
|
*
|
|
PT
Suparma Tbk
|
|
6,395,345
|
|
106,197
|
|
*
|
|
PT
Surya Dumai Industri Tbk
|
|
5,145,000
|
|
|
|
|
|
PT
Surya Toto Indonesia Tbk
|
|
46,400
|
|
35,068
|
|
*
|
|
PT
Suryainti Permata Tbk
|
|
17,378,000
|
|
344,774
|
|
|
|
PT
Tigaraksa Satria Tbk
|
|
718,200
|
|
16,963
|
|
|
|
PT
Timah Tbk
|
|
7,800,000
|
|
1,034,839
|
|
|
|
PT
Trimegah Sec Tbk
|
|
34,298,000
|
|
550,842
|
|
|
|
PT
Tunas Ridean Tbk
|
|
11,363,500
|
|
1,121,573
|
|
*
|
|
PT
Ultrajaya Milk Industry & Trading Co. Tbk
|
|
13,717,500
|
|
877,815
|
|
|
|
PT
Unggul Indah Cahaya Tbk
|
|
371,435
|
|
82,902
|
|
|
|
PT
United Tractors Tbk
|
|
2,573,666
|
|
2,174,676
|
|
|
|
|
|
|
|
TOTAL
INDONESIA
|
|
|
|
120,263,785
|
|
|
|
|
|
|
|
ISRAEL
(2.5%)
|
|
|
|
|
|
COMMON
STOCKS (2.5%)
|
|
|
|
|
|
*
|
|
Afcon
Industries, Ltd.
|
|
1,451
|
|
8,149
|
|
|
|
Africa
Israel Industries, Ltd.
|
|
9,037
|
|
320,222
|
|
14
*
|
|
Africa-Israel
Investments, Ltd.
|
|
224,292
|
|
3,501,803
|
|
*
|
|
Alvarion,
Ltd.
|
|
447,274
|
|
1,382,641
|
|
*
|
|
Analyst
IMS Investment Management Services, Ltd.
|
|
16,192
|
|
98,967
|
|
|
|
Ashtrom
Properties, Ltd.
|
|
171,400
|
|
155,269
|
|
*
|
|
AudioCodes,
Ltd.
|
|
23,091
|
|
33,964
|
|
*
|
|
Azorim
Investment Development & Construction Co., Ltd.
|
|
294,564
|
|
877,656
|
|
*
|
|
Bank
Hapoalim B.M.
|
|
13,638,154
|
|
31,063,362
|
|
|
|
Bank
Leumi Le-Israel B.M.
|
|
12,542,791
|
|
31,351,542
|
|
*
|
|
Bank
of Jerusalem, Ltd.
|
|
71,150
|
|
83,208
|
|
*
|
|
Baran
Group, Ltd.
|
|
106,344
|
|
438,740
|
|
|
|
Clal
Industries, Ltd.
|
|
984,961
|
|
2,803,966
|
|
*
|
|
Clal
Insurance Enterprise Holdings, Ltd.
|
|
185,084
|
|
2,150,274
|
|
*
|
|
Danya
Cebus, Ltd.
|
|
23,610
|
|
48,432
|
|
|
|
Delek
Automotive Systems, Ltd.
|
|
11,121
|
|
88,038
|
|
*
|
|
Delta-Galil
Industries, Ltd.
|
|
96,180
|
|
200,078
|
|
|
|
Dexia
Isreal, Ltd.
|
|
1,050
|
|
90,718
|
|
*
|
|
Direct
Insurance - I.D.I. Insurance Co., Ltd.
|
|
32,904
|
|
44,903
|
|
|
|
Discount
Investment Corp.
|
|
279,027
|
|
3,886,584
|
|
|
|
Elbit
Medical Imaging, Ltd.
|
|
141,338
|
|
2,543,311
|
|
|
|
Electra
(Israel), Ltd.
|
|
15,789
|
|
1,306,179
|
|
*
|
|
Elron
Electronic Industries, Ltd.
|
|
323,982
|
|
719,139
|
|
*
|
|
Feuchtwanger
Investments, Ltd.
|
|
10,500
|
|
30
|
|
*
|
|
First
International Bank of Israel, Ltd. (6123804)
|
|
570,205
|
|
934,404
|
|
*
|
|
First
International Bank of Israel, Ltd. (6123815)
|
|
289,898
|
|
2,417,023
|
|
|
|
Formula
Systems, Ltd.
|
|
91,685
|
|
510,067
|
|
*
|
|
Formula
Vision Technologies, Ltd.
|
|
1
|
|
|
|
*
|
|
Granite
Hacarmel Investments, Ltd.
|
|
142,500
|
|
235,012
|
|
*
|
|
Hadera
Paper, Ltd.
|
|
31,026
|
|
1,148,922
|
|
*
|
|
Hamlet
(Israel-Canada), Ltd.
|
|
16,333
|
|
58,203
|
|
*
|
|
Harel
Insurance Investments & Finances, Ltd.
|
|
106,397
|
|
3,313,695
|
|
|
|
IBI
Investment House, Ltd.
|
|
6,245
|
|
38,557
|
|
*
|
|
Industrial
Building Corp., Ltd.
|
|
922,044
|
|
1,153,218
|
|
*
|
|
Israel
Cold Storage & Supply Co., Ltd.
|
|
7,000
|
|
47,391
|
|
*
|
|
Israel
Petrochemical Enterprises, Ltd.
|
|
225,343
|
|
375,739
|
|
*
|
|
Israel
Steel Mills, Ltd.
|
|
97,000
|
|
906
|
|
|
|
Ituran
Location & Control, Ltd.
|
|
24,162
|
|
190,482
|
|
*
|
|
Jerusalem
Oil Exploration, Ltd.
|
|
27,096
|
|
210,171
|
|
*
|
|
Kardan
Israel, Ltd.
|
|
2,237
|
|
2,784
|
|
*
|
|
Knafaim
Arkia Holdings, Ltd.
|
|
117,857
|
|
572,190
|
|
*
|
|
Koor
Industries, Ltd.
|
|
146,769
|
|
3,221,549
|
|
*
|
|
Leader
Holding & Investments, Ltd.
|
|
197,439
|
|
75,983
|
|
|
|
Liberty
Properties, Ltd.
|
|
3,457
|
|
36,427
|
|
*
|
|
Magal
Security Systems, Ltd.
|
|
18,398
|
|
79,320
|
|
|
|
Makhteshim-Agan
Industries, Ltd.
|
|
123,160
|
|
542,183
|
|
*
|
|
Menorah
Mivtachim Holdings, Ltd.
|
|
202,929
|
|
1,471,556
|
|
|
|
Merhav-Ceramic &
Building Materials Center, Ltd.
|
|
36,232
|
|
50,677
|
|
|
|
Middle
East Tube Co., Ltd.
|
|
18,000
|
|
23,201
|
|
*
|
|
Migdal
Insurance & Financial, Ltd. Holdings
|
|
2,967,230
|
|
3,279,364
|
|
*
|
|
Miloumor,
Ltd.
|
|
97,997
|
|
6,102
|
|
*
|
|
Minrav
Holdings, Ltd.
|
|
2,000
|
|
94,934
|
|
*
|
|
Mivtach
Shamir Holdings, Ltd.
|
|
26,586
|
|
447,656
|
|
|
|
Mizrahi
Tefahot Bank, Ltd.
|
|
1,725,090
|
|
9,545,762
|
|
15
*
|
|
Naphtha
Israel Petroleum Corp.
|
|
125,444
|
|
260,025
|
|
*
|
|
NICE
Systems, Ltd. Sponsored ADR
|
|
78,714
|
|
2,015,866
|
|
*
|
|
Nisko
Industries, Ltd.
|
|
5,929
|
|
14,016
|
|
*
|
|
OCIF
Investments and Development, Ltd.
|
|
14,180
|
|
62,002
|
|
|
|
Oil
Refineries, Ltd.
|
|
11,090,509
|
|
4,012,390
|
|
|
|
Ormat
Industries, Ltd.
|
|
276,852
|
|
2,091,287
|
|
*
|
|
RADVision,
Ltd.
|
|
60,313
|
|
428,760
|
|
*
|
|
Retalix,
Ltd.
|
|
235,506
|
|
1,982,035
|
|
|
|
Scailex
Corp., Ltd.
|
|
416,611
|
|
3,146,685
|
|
*
|
|
Suny
Electronic, Ltd.
|
|
90,241
|
|
239,869
|
|
|
|
Super-Sol,
Ltd. Series B
|
|
780,479
|
|
2,542,121
|
|
*
|
|
Team
Computer & Systems, Ltd.
|
|
6,937
|
|
82,264
|
|
|
|
Teva
Pharmaceutical Industries, Ltd. Sponsored ADR
|
|
221,228
|
|
9,709,697
|
|
*
|
|
The
Israel Land Development Co., Ltd.
|
|
176,934
|
|
461,402
|
|
*
|
|
Union
Bank of Israel, Ltd.
|
|
364,943
|
|
781,760
|
|
*
|
|
Urdan
Industries, Ltd.
|
|
526,698
|
|
190,845
|
|
|
|
|
|
|
|
TOTAL
ISRAEL
|
|
|
|
141,301,677
|
|
|
|
|
|
|
|
MALAYSIA
(4.1%)
|
|
|
|
|
|
COMMON
STOCKS (4.1%)
|
|
|
|
|
|
|
|
A&M
Realty Berhad
|
|
854,200
|
|
97,777
|
|
|
|
Affin
Holdings Berhad
|
|
9,611,900
|
|
4,598,773
|
|
*
|
|
Airasia
Berhad
|
|
2,630,000
|
|
861,288
|
|
|
|
Alliance
Financial Group Berhad
|
|
8,044,300
|
|
4,634,644
|
|
|
|
Aluminum
Co. of Malaysia Berhad
|
|
250,000
|
|
63,072
|
|
*
|
|
AMBD
Berhad
|
|
2,782,700
|
|
127,977
|
|
|
|
AMMB
Holdings Berhad
|
|
21,831,262
|
|
19,160,404
|
|
|
|
Ancom
Berhad
|
|
413,437
|
|
62,465
|
|
|
|
Ann
Joo Resources Berhad
|
|
1,721,000
|
|
740,865
|
|
|
|
APM
Automotive Holdings Berhad
|
|
1,024,700
|
|
508,334
|
|
|
|
Apollo
Food Holdings Berhad
|
|
198,400
|
|
132,362
|
|
*
|
|
Asas
Dunia Berhad
|
|
524,700
|
|
79,589
|
|
*
|
|
Asia
Pacific Land Berhad
|
|
5,644,300
|
|
434,642
|
|
|
|
Asiatic
Development Berhad
|
|
1,918,900
|
|
2,631,463
|
|
*
|
|
Axiata
Group Berhad
|
|
9,369,050
|
|
5,770,489
|
|
|
|
Bandar
Raya Developments Berhad
|
|
3,669,100
|
|
1,219,994
|
|
|
|
Batu
Kawan Berhad
|
|
2,276,250
|
|
5,201,773
|
|
|
|
Berjaya
Corp. Berhad
|
|
16,673,980
|
|
3,919,713
|
|
|
|
Berjaya
Land Berhad
|
|
3,273,000
|
|
3,025,989
|
|
|
|
Bernas
Padiberas Nasional Berhad
|
|
4,690,300
|
|
1,786,854
|
|
|
|
Bimb
Holdings Berhad
|
|
1,544,700
|
|
441,166
|
|
|
|
Bina
Darulaman Berhad
|
|
118,000
|
|
24,197
|
|
*
|
|
Binaik
Equity Berhad
|
|
149,800
|
|
30,849
|
|
|
|
Bolton
Properties Berhad
|
|
1,277,400
|
|
224,523
|
|
|
|
Boustead
Holdings Berhad
|
|
3,165,400
|
|
3,156,419
|
|
|
|
Cahya
Mata Sarawak Berhad
|
|
1,401,400
|
|
541,827
|
|
|
|
Chemical
Co. of Malaysia Berhad
|
|
311,000
|
|
197,263
|
|
|
|
Chin
Teck Plantations Berhad
|
|
296,600
|
|
531,284
|
|
|
|
Choo
Bee Metal Industries Berhad
|
|
339,700
|
|
131,424
|
|
*
|
|
Country
Heights Holdings Berhad
|
|
174,000
|
|
32,441
|
|
|
|
Cycle &
Carriage Bintang Berhad
|
|
249,800
|
|
151,855
|
|
16
*
|
|
Datuk
Keramik Holdings Berhad
|
|
127,000
|
|
|
|
|
|
Dijaya
Corp. Berhad
|
|
612,100
|
|
157,546
|
|
|
|
DNP
Holdings Berhad
|
|
1,431,800
|
|
334,545
|
|
|
|
DRB-Hicom
Berhad
|
|
7,750,700
|
|
2,157,724
|
|
*
|
|
Eastern &
Oriental Berhad (6468754)
|
|
1,863,766
|
|
317,066
|
|
|
|
Eastern &
Oriental Berhad (B19ZLW1)
|
|
283,149
|
|
67,805
|
|
|
|
Eastern
Pacific Industrial Corp. Berhad
|
|
497,700
|
|
185,067
|
|
|
|
ECM
Libra Avenue Berhad
|
|
6,220,730
|
|
1,080,082
|
|
|
|
EON
Capital Berhad
|
|
1,707,807
|
|
1,711,701
|
|
|
|
Esso
Malaysia Berhad
|
|
905,500
|
|
575,409
|
|
|
|
Far
East Holdings Berhad
|
|
388,800
|
|
604,398
|
|
*
|
|
Focal
Aims Holdings Berhad
|
|
424,000
|
|
24,416
|
|
*
|
|
Fountain
View Development Berhad
|
|
2,573,200
|
|
159,018
|
|
|
|
Gamuda
Berhad
|
|
9,077,000
|
|
6,086,587
|
|
|
|
General
Corp. Berhad
|
|
1,681,400
|
|
357,652
|
|
|
|
Globetronics
Technology Berhad
|
|
72,000
|
|
13,834
|
|
|
|
Glomac
Berhad
|
|
1,609,100
|
|
301,608
|
|
|
|
Gold
Is Berhad
|
|
1,598,600
|
|
619,682
|
|
*
|
|
Golden
Plus Holdings Berhad
|
|
201,000
|
|
45,080
|
|
|
|
Gopeng
Berhad
|
|
273,900
|
|
48,342
|
|
|
|
Grand
United Holdings Berhad
|
|
1,387,700
|
|
192,391
|
|
*
|
|
Gula
Perak Berhad
|
|
50
|
|
1
|
|
|
|
GuocoLand
(Malaysia) Berhad
|
|
486,000
|
|
116,804
|
|
|
|
Hap
Seng Consolidated Berhad
|
|
1,984,200
|
|
1,262,772
|
|
|
|
Hong
Leong Financial Group Berhad
|
|
1,249,437
|
|
1,751,710
|
|
|
|
Hong
Leong Industries Berhad
|
|
1,225,800
|
|
1,209,744
|
|
|
|
Hume
Industries (Malaysia) Berhad
|
|
537,667
|
|
441,085
|
|
|
|
Hunza
Properties Berhad
|
|
1,033,300
|
|
378,422
|
|
|
|
Hwang-DBS
(Malaysia) Berhad
|
|
908,700
|
|
328,530
|
|
|
|
IGB
Corp. Berhad
|
|
10,599,200
|
|
5,332,542
|
|
|
|
IJM
Corp. Berhad
|
|
8,931,900
|
|
12,493,032
|
|
*
|
|
IJM
Land Berhad
|
|
742,900
|
|
275,142
|
|
|
|
IJM
Plantations Berhad
|
|
115,400
|
|
78,106
|
|
*
|
|
Insas
Berhad
|
|
3,779,000
|
|
428,243
|
|
|
|
Integrated
Logistics Berhad
|
|
1,222,800
|
|
235,453
|
|
|
|
IOI
Corp. Berhad
|
|
16,320
|
|
19,561
|
|
*
|
|
Jaks
Resources Berhad
|
|
3,438,000
|
|
454,854
|
|
|
|
Jaya
Tiasa Holdings Berhad
|
|
1,185,135
|
|
637,055
|
|
|
|
Jerneh
Asia Berhad
|
|
425,120
|
|
128,379
|
|
|
|
K &
N Kenanga Holdings Berhad
|
|
2,209,100
|
|
389,718
|
|
*
|
|
Karambunai
Corp. Berhad
|
|
6,839,800
|
|
162,047
|
|
|
|
Keck
Seng (Malaysia) Berhad
|
|
1,663,400
|
|
1,445,532
|
|
|
|
Kian
Joo Can Factory Berhad
|
|
3,566,680
|
|
1,198,919
|
|
*
|
|
KIG
Glass Industrial Berhad
|
|
260,000
|
|
2,191
|
|
|
|
Kim
Hin Industry Berhad
|
|
453,800
|
|
111,260
|
|
|
|
Kim
Loong Resources Berhad
|
|
324,800
|
|
176,431
|
|
|
|
KLCC
Property Holdings Berhad
|
|
5,965,800
|
|
5,322,087
|
|
|
|
KNM
Group Berhad
|
|
15,964,100
|
|
2,554,154
|
|
|
|
Knusford
Berhad
|
|
153,300
|
|
61,148
|
|
|
|
KPJ
Healthcare Berhad
|
|
1,570,300
|
|
1,317,858
|
|
|
|
KrisAssets
Holdings Berhad
|
|
250,377
|
|
182,776
|
|
|
|
KSL
Holdings Berhad
|
|
189,466
|
|
38,775
|
|
17
|
|
Kuala
Lumpur Kepong Berhad
|
|
1,700,050
|
|
5,520,590
|
|
*
|
|
Kub
Malaysia Berhad
|
|
5,214,000
|
|
631,743
|
|
|
|
Kuchai
Development Berhad
|
|
345,600
|
|
61,089
|
|
|
|
Kulim
Malaysia Berhad
|
|
1,954,925
|
|
3,036,152
|
|
*
|
|
Kumpulan
Europlus Berhad
|
|
1,702,900
|
|
152,357
|
|
|
|
Kumpulan
Fima Berhad
|
|
585,100
|
|
75,260
|
|
*
|
|
Kumpulan
Hartanah Selangor Berhad
|
|
520,000
|
|
60,756
|
|
|
|
Kwantas
Corp. Berhad
|
|
246,000
|
|
129,645
|
|
*
|
|
Land &
General Berhad
|
|
14,452,000
|
|
969,547
|
|
|
|
Landmarks
Berhad
|
|
1,777,200
|
|
471,464
|
|
*
|
|
LBS
Bina Group Berhad
|
|
1,607,000
|
|
136,884
|
|
|
|
Leader
Universal Holdings Berhad
|
|
5,383,033
|
|
857,496
|
|
|
|
Leong
Hup Holdings Berhad
|
|
1,469,800
|
|
364,778
|
|
*
|
|
Lien
Hoe Corp. Berhad
|
|
1,997,150
|
|
86,913
|
|
*
|
|
Lion
Corp Berhad
|
|
2,717,500
|
|
299,195
|
|
|
|
Lion
Diversified Holdings Berhad
|
|
1,682,500
|
|
213,382
|
|
*
|
|
Lion
Forest Industries Berhad
|
|
579
|
|
90
|
|
|
|
Lion
Industries Corp. Berhad
|
|
4,734,381
|
|
1,318,576
|
|
*
|
|
MAA
Holdings Berhad
|
|
888,700
|
|
156,392
|
|
|
|
Malaysia
Building Society Berhad
|
|
419,000
|
|
111,784
|
|
|
|
Malaysian
Airlines System Berhad
|
|
437,067
|
|
384,414
|
|
|
|
Malaysian
Bulk Carriers Berhad
|
|
1,552,725
|
|
1,276,310
|
|
|
|
Malaysian
Mosaics Berhad
|
|
354,240
|
|
68,693
|
|
|
|
Malaysian
Resources Corp. Berhad
|
|
5,766,900
|
|
1,833,174
|
|
|
|
Marco
Holdings Berhad
|
|
1,710,000
|
|
64,294
|
|
|
|
MBM
Resources Berhad
|
|
487,533
|
|
313,384
|
|
*
|
|
Measat
Global Berhad
|
|
377,500
|
|
111,306
|
|
|
|
Mega
First Corp. Berhad
|
|
1,101,700
|
|
254,850
|
|
|
|
Melewar
Industrial Group Berhad
|
|
1,253,300
|
|
197,976
|
|
|
|
Merge
Housing Berhad
|
|
58,952
|
|
8,238
|
|
|
|
Metro
Kajang Holdings Berhad
|
|
535,333
|
|
136,250
|
|
*
|
|
Metroplex
Berhad
|
|
817,000
|
|
|
|
*
|
|
Mieco
Chipboard Berhad
|
|
873,900
|
|
68,562
|
|
|
|
MISC
Berhad
|
|
275,200
|
|
682,114
|
|
*
|
|
MK
Land Holdings Berhad
|
|
6,778,500
|
|
509,256
|
|
|
|
MMC
Corp. Berhad
|
|
9,729,779
|
|
4,764,691
|
|
|
|
MNRB
Holdings Berhad
|
|
1,150,800
|
|
938,741
|
|
|
|
MTD
ACPI Engineering Berhad
|
|
2,193,100
|
|
245,143
|
|
|
|
Muda
Holdings Berhad
|
|
706,000
|
|
112,954
|
|
|
|
Muhibbah
Engineering Berhad
|
|
4,613,000
|
|
1,479,972
|
|
*
|
|
MUI
Properties Berhad
|
|
1,314,000
|
|
44,004
|
|
*
|
|
Mulpha
International Berhad
|
|
11,256,500
|
|
1,304,914
|
|
|
|
Multi-Purpose
Holdings Berhad
|
|
1,974,000
|
|
734,678
|
|
|
|
MWE
Holdings Berhad
|
|
458,000
|
|
88,572
|
|
*
|
|
Narra
Industries Berhad
|
|
154,200
|
|
16,676
|
|
|
|
NCB
Holdings Berhad
|
|
2,381,700
|
|
1,789,902
|
|
|
|
Negri
Sembilan Oil Palms Berhad
|
|
167,600
|
|
178,568
|
|
|
|
New
Straits Times Press (Malaysia) Berhad
|
|
1,751,100
|
|
591,783
|
|
|
|
NV
Multi Corp. Berhad
|
|
671,800
|
|
95,619
|
|
|
|
Nylex
(Malaysia) Berhad
|
|
386,320
|
|
63,282
|
|
|
|
OKS
Property Holdings Berhad
|
|
1,338,741
|
|
172,515
|
|
|
|
Oriental
Holdings Berhad
|
|
3,021,116
|
|
4,051,589
|
|
18
|
|
Oriental
Interest Berhad
|
|
170,000
|
|
52,528
|
|
|
|
OSK
Holdings Berhad
|
|
4,969,618
|
|
1,697,390
|
|
|
|
OSK
Ventures Interantional Berhad
|
|
66,000
|
|
11,420
|
|
|
|
P.I.E.
Industrial Berhad
|
|
323,600
|
|
375,757
|
|
|
|
Pacific &
Orient Berhad
|
|
283,365
|
|
80,536
|
|
*
|
|
Pan
Malaysia Cement Works Berhad
|
|
1,271,800
|
|
44,585
|
|
|
|
Panasonic
Manufacturing Malaysia Berhad
|
|
339,180
|
|
1,028,600
|
|
*
|
|
Paracorp
Berhad
|
|
252,000
|
|
708
|
|
|
|
Paramount
Corp. Berhad
|
|
203,900
|
|
125,765
|
|
|
|
Parkson
Holdings Berhad
|
|
2,263,990
|
|
2,632,214
|
|
|
|
PBA
Holdings Berhad
|
|
1,502,500
|
|
428,476
|
|
|
|
Pelikan
International Corp. Berhad
|
|
148,680
|
|
36,165
|
|
*
|
|
Permaju
Industries Berhad
|
|
1,714,300
|
|
190,210
|
|
|
|
Petronas
Dagangan Berhad
|
|
970,900
|
|
2,152,902
|
|
|
|
PJ
Development Holdings Berhad
|
|
2,768,800
|
|
402,688
|
|
|
|
PK
Resources Berhad
|
|
5,300
|
|
789
|
|
|
|
Pos
Malaysia Berhad
|
|
3,533,817
|
|
2,210,925
|
|
|
|
PPB
Group Berhad
|
|
6,759,566
|
|
20,077,278
|
|
*
|
|
Prime
Utilities Berhad
|
|
46,000
|
|
1,744
|
|
|
|
Protasco
Berhad
|
|
282,200
|
|
59,830
|
|
|
|
Proton
Holdings Berhad
|
|
3,581,500
|
|
2,963,645
|
|
*
|
|
Pulai
Springs Berhad
|
|
159,800
|
|
40,062
|
|
*
|
|
Ramunia
Holdings Berhad
|
|
2,434,736
|
|
417,583
|
|
|
|
Ranhill
Berhad
|
|
3,026,600
|
|
696,374
|
|
|
|
RHB
Capital Berhad
|
|
4,037,200
|
|
4,656,287
|
|
*
|
|
Salcon
Berhad
|
|
574,000
|
|
73,236
|
|
*
|
|
Sapura
Resources Berhad
|
|
286,800
|
|
17,367
|
|
|
|
Sarawak
Energy Berhad
|
|
4,695,700
|
|
2,647,469
|
|
|
|
Sarawak
Oil Palms Berhad
|
|
391,820
|
|
246,721
|
|
|
|
Scientex, Inc.
Berhad
|
|
645,048
|
|
180,485
|
|
|
|
Scomi
Group Berhad
|
|
8,510,000
|
|
1,030,876
|
|
|
|
Selangor
Dredging Berhad
|
|
1,312,700
|
|
183,269
|
|
|
|
Shangri-La
Hotels (Malaysia) Berhad
|
|
738,000
|
|
380,097
|
|
|
|
Shell
Refining Co. Federation of Malaysia Berhad
|
|
217,100
|
|
600,214
|
|
|
|
SHL
Consolidated Berhad
|
|
1,008,700
|
|
313,802
|
|
|
|
Southern
Acids (Malaysia) Berhad
|
|
44,000
|
|
17,452
|
|
|
|
Southern
Steel Berhad
|
|
865,300
|
|
370,668
|
|
|
|
Store
Corp. Berhad
|
|
124,630
|
|
107,725
|
|
|
|
Subur
Tiasa Holdings Berhad
|
|
460,530
|
|
219,300
|
|
*
|
|
Sunrise
Berhad
|
|
2,158,384
|
|
792,034
|
|
|
|
Sunway
City Berhad
|
|
2,699,500
|
|
1,596,235
|
|
|
|
Sunway
Holdings Berhad
|
|
3,977,900
|
|
921,464
|
|
|
|
Suria
Capital Holdings Berhad
|
|
590,800
|
|
156,157
|
|
|
|
Symphony
House Berhad
|
|
523,734
|
|
34,438
|
|
|
|
Ta
Ann Holdings Berhad
|
|
137,400
|
|
127,107
|
|
|
|
TA
Enterprise Berhad
|
|
10,563,300
|
|
2,774,823
|
|
|
|
Tahp
Group Berhad
|
|
27,000
|
|
21,312
|
|
*
|
|
Talam
Corp. Berhad
|
|
17,833,050
|
|
500,655
|
|
|
|
Tamco
Corp. Holdings Berhad
|
|
240,171
|
|
3,716
|
|
|
|
Tan
Chong Motor Holdings Berhad
|
|
4,998,300
|
|
2,029,646
|
|
|
|
TDM
Berhad
|
|
1,059,200
|
|
484,911
|
|
*
|
|
Tebrau
Teguh Berhad
|
|
2,520,000
|
|
378,771
|
|
19
|
|
Tekala
Corp. Berhad
|
|
337,700
|
|
67,991
|
|
*
|
|
Time
Dotcom Berhad
|
|
11,179,300
|
|
1,104,981
|
|
|
|
Tiong
Nam Transport Holdings Berhad
|
|
171,500
|
|
29,386
|
|
|
|
Tradewinds
(Malaysia) Berhad
|
|
844,200
|
|
630,576
|
|
|
|
TSR
Capital Berhad
|
|
157,900
|
|
52,815
|
|
|
|
UAC
Berhad
|
|
77,398
|
|
60,798
|
|
*
|
|
UEM
Land Holdings Berhad
|
|
4,815,375
|
|
1,425,147
|
|
|
|
UMW
Holdings Berhad
|
|
2,726,886
|
|
4,356,748
|
|
|
|
Unico-Desa
Plantations Berhad
|
|
4,011,228
|
|
758,712
|
|
|
|
Unisem
(M) Berhad
|
|
4,210,700
|
|
977,093
|
|
|
|
United
Malacca Rubber Estates Berhad
|
|
450,100
|
|
789,836
|
|
|
|
United
Plantations Berhad
|
|
678,200
|
|
2,035,237
|
|
|
|
Utusan
Melayu (Malaysia) Berhad
|
|
449,500
|
|
86,817
|
|
|
|
VS
Industry Berhad
|
|
1,337,193
|
|
407,871
|
|
|
|
Warisan
TC Holdings Berhad
|
|
109,850
|
|
56,716
|
|
*
|
|
WTK
Holdings Berhad
|
|
2,299,250
|
|
612,221
|
|
|
|
Yeo
Hiap Seng (Malaysia) Berhad
|
|
355,320
|
|
126,733
|
|
|
|
YTL
Corp. Berhad
|
|
5,593,600
|
|
11,132,442
|
|
|
|
YTL
Power International Berhad
|
|
409,562
|
|
237,733
|
|
|
|
Yu
Neh Huat Berhad
|
|
2,744,713
|
|
954,167
|
|
|
|
Zelan
Berhad
|
|
1,937,000
|
|
421,289
|
|
TOTAL
COMMON STOCKS
|
|
|
|
234,252,236
|
|
|
|
|
|
|
|
PREFERRED
STOCKS (0.0%)
|
|
|
|
|
|
*
|
|
Malayan
United Industries Berhad A1
|
|
1,526,067
|
|
72,874
|
|
*
|
|
Malayan
United Industries Berhad A2
|
|
1,526,067
|
|
66,444
|
|
TOTAL
PREFERRED STOCKS
|
|
|
|
139,318
|
|
|
|
|
|
|
|
RIGHTS/WARRANTS
(0.0%)
|
|
|
|
|
|
*
|
|
Bandar
Raya Developments Berhad Warrants 09/26/12
|
|
1,607,495
|
|
162,556
|
|
*
|
|
Jerneh
Asia Berhad Warrants 07/26/12
|
|
159,420
|
|
9,628
|
|
*
|
|
OSK
Holdings Berhad Warrants 09/30/12
|
|
93,339
|
|
3,146
|
|
*
|
|
Sarawak
Oil Palms Berhad Warrants 01/19/11
|
|
53,568
|
|
18,132
|
|
TOTAL
RIGHTS/WARRANTS
|
|
|
|
193,462
|
|
|
|
|
|
|
|
TOTAL
MALAYSIA
|
|
|
|
234,585,016
|
|
|
|
|
|
|
|
MEXICO
(5.9%)
|
|
|
|
|
|
COMMON
STOCKS (5.9%)
|
|
|
|
|
|
#
|
|
Alfa
S.A.B. de C.V. Series A
|
|
2,753,517
|
|
4,776,672
|
|
* #
|
|
Alsea
de Mexico S.A.B. de C.V.
|
|
1,545,900
|
|
627,049
|
|
|
|
America
Movil S.A.B. de C.V. Series L ADR
|
|
55,728
|
|
1,830,665
|
|
* #
|
|
Axtel,
S.A.B. de C.V.
|
|
3,563,740
|
|
1,476,502
|
|
*
|
|
Carso
Infraestructura y Construccion S.A.B. de CV
|
|
57,500
|
|
28,737
|
|
#
|
|
Cemex
S.A.B. de C.V. Sponsored ADR
|
|
9,036,518
|
|
67,593,155
|
|
#
|
|
Cia
Minera Autlan S.A.B. de C.V.
|
|
44,000
|
|
59,310
|
|
|
|
Coca-Cola
Femsa S.A.B. de C.V. Sponsored ADR
|
|
264,200
|
|
10,393,628
|
|
#
|
|
Consorcio
ARA S.A.B. de C.V.
|
|
9,328,400
|
|
2,844,601
|
|
*
|
|
Consorcio
Hogar S.A.B. de C.V. Series B
|
|
1,276,418
|
|
122,039
|
|
* #
|
|
Corporacion
GEO S.A.B. de C.V. Series B
|
|
3,800,332
|
|
4,954,801
|
|
20
*
|
|
Corporacion
Interamericana de Entramiento S.A.B. de C.V. Series B
|
|
1,639,586
|
|
682,864
|
|
|
|
Corporacion
Mexicana de Restaurantes S.A.B. de C.V. Series B
|
|
3,689
|
|
1,756
|
|
|
|
Corporacion
Moctezuma S.A.B. de C.V.
|
|
111,200
|
|
187,669
|
|
|
|
Corporativo
Fragua S.A.B. de C.V. Series B
|
|
70
|
|
406
|
|
* #
|
|
Desarrolladora
Homex S.A.B. de C.V.
|
|
1,663,900
|
|
5,159,464
|
|
*
|
|
Dine
S.A.B. de C.V.
|
|
1,818,367
|
|
787,617
|
|
|
|
El
Puerto de Liverpool S.A.B. de C.V. Series 1
|
|
20,000
|
|
53,955
|
|
|
|
El
Puerto de Liverpool S.A.B. de C.V. Series C1
|
|
328,600
|
|
952,050
|
|
#
|
|
Embotelladora
Arca S.A.B. de C.V.
|
|
607,200
|
|
1,367,805
|
|
*
|
|
Empaques
Ponderosa S.A. de C.V. Series B
|
|
90,000
|
|
5,867
|
|
* #
|
|
Empresas
ICA S.A.B. de C.V.
|
|
2,318,272
|
|
4,214,735
|
|
* #
|
|
Empresas
ICA S.A.B. de C.V. Sponsored ADR
|
|
489,268
|
|
3,547,193
|
|
#
|
|
Fomento
Economico Mexicano S.A.B. de C.V. Series B & D
|
|
1,440,300
|
|
4,073,860
|
|
|
|
Fomento
Economico Mexicano S.A.B. de C.V. Sponsored ADR
|
|
1,411,458
|
|
39,958,376
|
|
*
|
|
GMD
Resorts S.A.B. de C.V.
|
|
41,400
|
|
12,595
|
|
*
|
|
Gruma
S.A.B. de C.V. ADR
|
|
85,416
|
|
201,582
|
|
* #
|
|
Gruma
S.A.B. de C.V. Series B
|
|
2,801,716
|
|
1,692,475
|
|
#
|
|
Grupo
Aeroportuario del Centro Norte, S.A.B. de C.V.
|
|
613,500
|
|
628,786
|
|
#
|
|
Grupo
Aeroportuario del Pacifico S.A.B. de C.V. ADR
|
|
534,189
|
|
10,982,926
|
|
#
|
|
Grupo
Aeroportuario del Sureste S.A.B. de C.V.
|
|
727,300
|
|
2,265,240
|
|
|
|
Grupo
Aeroportuario del Sureste S.A.B. de C.V. ADR
|
|
221,543
|
|
6,867,833
|
|
#
|
|
Grupo
Carso S.A.B. de C.V. Series A-1
|
|
10,678,493
|
|
27,674,669
|
|
|
|
Grupo
Cementos de Chihuahua S.A.B. de C.V.
|
|
2,799,892
|
|
5,992,815
|
|
* #
|
|
Grupo
FAMSA S.A.B. de C.V.
|
|
709,900
|
|
565,616
|
|
|
|
Grupo
Financiero Banorte S.A.B. de C.V.
|
|
6,257,710
|
|
9,654,442
|
|
|
|
Grupo
Financiero Inbursa S.A.B. de C.V. Series O
|
|
8,374,133
|
|
22,442,628
|
|
*
|
|
Grupo
Gigante S.A.B. de C.V. Series B
|
|
324,076
|
|
305,156
|
|
|
|
Grupo
Herdez S.A.B. de C.V.
|
|
319,000
|
|
311,930
|
|
|
|
Grupo
Industrial Maseca S.A.B. de C.V. Series B
|
|
2,726,900
|
|
1,481,367
|
|
*
|
|
Grupo
Industrial Saltillo S.A.B. de C.V.
|
|
1,341,869
|
|
252,706
|
|
* #
|
|
Grupo
Iusacell S.A.B. de C.V.
|
|
299,960
|
|
921,216
|
|
*
|
|
Grupo
Kuo S.A.B. de C.V. Series B
|
|
2,038,967
|
|
812,279
|
|
*
|
|
Grupo
Mexicano de Desarrollo S.A.B. de C.V.
|
|
43,400
|
|
21,376
|
|
|
|
Grupo
Mexico S.A.B. de C.V. Series B
|
|
26,577,260
|
|
20,598,050
|
|
*
|
|
Grupo
Nutrisa S.A. de C.V.
|
|
428
|
|
504
|
|
|
|
Grupo
Posadas S.A. de C.V. Series L
|
|
356,000
|
|
300,406
|
|
*
|
|
Grupo
Qumma S.A. de C.V. Series B
|
|
5,301
|
|
69
|
|
* #
|
|
Grupo
Simec, S.A. de C.V.
|
|
966,700
|
|
1,435,416
|
|
#
|
|
Grupo
Televisa S.A. de C.V.
|
|
288,100
|
|
891,678
|
|
|
|
Grupo
Televisa S.A. de C.V. Sponsored ADR
|
|
326,100
|
|
5,048,028
|
|
* #
|
|
Impulsora
Del Desarrollo Y El Empleo en America Latina S.A. de C.V.
|
|
6,618,915
|
|
5,369,538
|
|
|
|
Industrias
Bachoco S.A.B. de C.V. Series B
|
|
810,300
|
|
1,025,934
|
|
* #
|
|
Industrias
CH S.A.B. de C.V. Series B
|
|
2,827,592
|
|
6,230,287
|
|
|
|
Industrias
Penoles S.A.B. de C.V.
|
|
1,180,155
|
|
12,822,197
|
|
#
|
|
Kimberly
Clark de Mexico S.A.B. de C.V. Series A
|
|
144,000
|
|
525,163
|
|
* #
|
|
Organizacion
Soriana S.A.B. de C.V. Series B
|
|
14,540,800
|
|
25,856,630
|
|
*
|
|
Promotora
y Operadora de Infraestructura S.A. de C.V.
|
|
96,978
|
|
151,023
|
|
*
|
|
Qualitas
Compania de Seguros S.A. de C.V.
|
|
1,713,100
|
|
492,612
|
|
*
|
|
Sanluis
Corporacion S.A. de C.V. Series A
|
|
2,400
|
|
261
|
|
*
|
|
Sanluis
Corporacion S.A. de C.V. Series C & Series B
|
|
3,376
|
|
978
|
|
21
* #
|
|
SARE
Holding S.A. de C.V.
|
|
123,300
|
|
21,434
|
|
*
|
|
Savia
S.A. de C.V.
|
|
3,457,285
|
|
200,335
|
|
|
|
Telefonos
de Mexico S.A.B. de C.V. Sponsored ADR
|
|
30,200
|
|
483,200
|
|
*
|
|
Urbi,
Desarrollos Urbanos, S.A.B. de C.V.
|
|
2,199,700
|
|
2,421,805
|
|
#
|
|
Vitro
S.A.B. de C.V.
|
|
3,219,986
|
|
1,432,038
|
|
|
|
|
|
|
|
TOTAL
MEXICO
|
|
|
|
334,095,999
|
|
|
|
|
|
|
|
PHILIPPINES
(0.5%)
|
|
|
|
|
|
COMMON
STOCKS (0.5%)
|
|
|
|
|
|
|
|
A.
Soriano Corp.
|
|
20,195,000
|
|
986,861
|
|
|
|
Alaska
Milk Corp.
|
|
7,953,000
|
|
648,281
|
|
*
|
|
Alsons
Consolidated Resources, Inc.
|
|
16,904,000
|
|
122,347
|
|
|
|
Bacnotan
Consolidated Industries, Inc.
|
|
2,575,998
|
|
426,159
|
|
|
|
Banco
de Oro Unibank, Inc.
|
|
5,115,420
|
|
3,168,471
|
|
*
|
|
Belle
Corp.
|
|
31,340,000
|
|
452,943
|
|
*
|
|
Benpres
Holdings Corp.
|
|
4,800,000
|
|
136,553
|
|
|
|
Cebu
Holdings, Inc.
|
|
7,763,250
|
|
237,926
|
|
|
|
China
Banking Corp.
|
|
1,724
|
|
12,996
|
|
*
|
|
Digital
Telecommunications Phils., Inc.
|
|
102,460,000
|
|
2,289,062
|
|
|
|
DMCI
Holdings, Inc.
|
|
9,170,000
|
|
832,617
|
|
|
|
EEI
Corp.
|
|
1,929,000
|
|
57,448
|
|
*
|
|
Empire
East Land Holdings, Inc.
|
|
37,000,000
|
|
222,171
|
|
*
|
|
Export &
Industry Bank, Inc.
|
|
14,950
|
|
70
|
|
|
|
Filinvest
Land, Inc.
|
|
92,992,031
|
|
1,090,503
|
|
*
|
|
Filipina
Water Bottling Corp.
|
|
5,471,786
|
|
|
|
*
|
|
First
Philippines Holdings Corp.
|
|
2,467,100
|
|
1,259,650
|
|
*
|
|
House
of Investments, Inc.
|
|
700,000
|
|
21,139
|
|
|
|
International
Container Terminal Services, Inc.
|
|
270,000
|
|
71,211
|
|
|
|
Jollibee
Food Corp.
|
|
152,000
|
|
144,128
|
|
|
|
Macroasia
Corp.
|
|
2,170,000
|
|
131,517
|
|
|
|
Megaworld
Corp.
|
|
103,073,600
|
|
1,487,208
|
|
|
|
Metro
Bank & Trust Co.
|
|
7,397,055
|
|
4,574,143
|
|
*
|
|
Mondragon
International Philippines, Inc.
|
|
2,464,000
|
|
6,369
|
|
*
|
|
Philippine
National Bank
|
|
3,781,218
|
|
1,250,035
|
|
*
|
|
Philippine
National Construction Corp.
|
|
398,900
|
|
40,420
|
|
*
|
|
Philippine
Realty & Holdings Corp.
|
|
20,930,000
|
|
86,117
|
|
|
|
Philippine
Savings Bank
|
|
1,232,313
|
|
981,110
|
|
*
|
|
Philippine
Townships, Inc.
|
|
226,200
|
|
432
|
|
*
|
|
PhilWeb
Corp.
|
|
33,000,000
|
|
30,653
|
|
*
|
|
Prime
Media Holdings, Inc.
|
|
409,000
|
|
2,326
|
|
*
|
|
Prime
Orion Philippines, Inc.
|
|
13,400,000
|
|
60,963
|
|
|
|
Rizal
Commercial Banking Corp.
|
|
2,851,448
|
|
822,943
|
|
|
|
Robinsons
Land Corp. Series B
|
|
10,360,700
|
|
1,175,630
|
|
|
|
Security
Bank Corp.
|
|
2,387,410
|
|
1,726,622
|
|
|
|
Semirara
Mining Corp.
|
|
141,700
|
|
80,909
|
|
|
|
Shang
Properties, Inc.
|
|
614,285
|
|
17,040
|
|
|
|
SM
Development Corp.
|
|
28,566,248
|
|
1,769,339
|
|
*
|
|
Solid
Group, Inc.
|
|
19,668,000
|
|
158,621
|
|
|
|
Union
Bank of the Philippines
|
|
920,294
|
|
451,581
|
|
|
|
Universal
Robina Corp.
|
|
16,573,345
|
|
2,466,649
|
|
*
|
|
Vista
Land & Lifescapes, Inc.
|
|
430,000
|
|
9,407
|
|
TOTAL
COMMON STOCKS
|
|
|
|
29,510,570
|
|
|
|
|
|
|
|
RIGHTS/WARRANTS
(0.0%)
|
|
|
|
|
|
*
|
|
Megaworld
Corp. Rights 05/22/09
|
|
25,768,400
|
|
|
|
|
|
|
|
|
|
TOTAL
PHILIPPINES
|
|
|
|
29,510,570
|
|
22
POLAND
(2.3%)
|
|
|
|
|
|
COMMON
STOCKS (2.3%)
|
|
|
|
|
|
|
|
Agora
SA
|
|
559,848
|
|
2,607,639
|
|
*
|
|
Amica
Wronki SA
|
|
170,802
|
|
267,831
|
|
|
|
Asseco
Poland SA
|
|
440,281
|
|
6,915,563
|
|
|
|
Bank
Millennium SA
|
|
5,515,278
|
|
4,371,583
|
|
|
|
Bank
Pekao SA
|
|
41,481
|
|
1,485,416
|
|
*
|
|
Bank
Przemyslowo Handlowy BPH SA
|
|
68,855
|
|
702,565
|
|
*
|
|
Bioton
SA
|
|
16,349,625
|
|
1,491,062
|
|
*
|
|
Boryszew
SA
|
|
268,708
|
|
220,466
|
|
*
|
|
Budimex
SA
|
|
100,539
|
|
2,090,639
|
|
*
|
|
Cersanit-Krasnystaw
SA
|
|
11,868
|
|
38,641
|
|
|
|
Ciech
SA
|
|
100,063
|
|
957,047
|
|
|
|
Debica
SA
|
|
111,346
|
|
1,654,106
|
|
*
|
|
Dom
Development SA
|
|
26,870
|
|
271,266
|
|
*
|
|
Echo
Investment SA
|
|
1,796,966
|
|
1,563,541
|
|
|
|
Elektrobudowa
SA
|
|
29,635
|
|
1,260,185
|
|
*
|
|
Elstar
Oils SA
|
|
196,440
|
|
257,185
|
|
|
|
Emperia
Holding SA
|
|
12,562
|
|
175,027
|
|
*
|
|
Fabryki
Mebli Forte SA
|
|
70,159
|
|
153,195
|
|
*
|
|
Farmacol
SA
|
|
5,526
|
|
48,539
|
|
*
|
|
Ferrum
SA
|
|
4,233
|
|
6,243
|
|
*
|
|
Getin
Holdings SA
|
|
1,022,560
|
|
1,580,979
|
|
|
|
Grupa
Kety SA
|
|
123,335
|
|
2,610,205
|
|
*
|
|
Grupa
Lotos SA
|
|
839,119
|
|
4,198,968
|
|
|
|
Impexmetal
SA
|
|
5,899,609
|
|
3,001,487
|
|
|
|
KGHM
Polska Miedz SA
|
|
1,331,285
|
|
23,328,849
|
|
*
|
|
Koelner
SA
|
|
110,633
|
|
280,613
|
|
|
|
Kredyt
Bank SA
|
|
619,815
|
|
1,088,604
|
|
*
|
|
Kroscienskie
Huty Szkla Krosno SA
|
|
63,425
|
|
3,375
|
|
*
|
|
Lentex
SA
|
|
158,570
|
|
950,740
|
|
*
|
|
MNI
SA
|
|
326,495
|
|
278,791
|
|
*
|
|
Mondi
Packaging Paper Swiecie SA
|
|
11,049
|
|
172,218
|
|
*
|
|
Mostostal
Export SA
|
|
389,492
|
|
239,511
|
|
*
|
|
Mostostal
Warszawa SA
|
|
284,654
|
|
4,571,476
|
|
*
|
|
Mostostal
Zabrze Holding SA
|
|
350,940
|
|
404,316
|
|
|
|
Multimedia
Polska SA
|
|
33,632
|
|
69,514
|
|
*
|
|
Netia
Holdings SA
|
|
3,441,202
|
|
3,657,508
|
|
|
|
Orbis
SA
|
|
541,449
|
|
5,948,885
|
|
|
|
Pfleiderer
Grajewo SA
|
|
48,441
|
|
133,781
|
|
*
|
|
Polnord
SA
|
|
102,774
|
|
1,000,154
|
|
|
|
Polski
Koncern Naftowy Orlen SA
|
|
5,310,008
|
|
41,757,460
|
|
*
|
|
Przedsiebiorstwo
Eksportu Inzyn Importu Kopex SA
|
|
260,829
|
|
1,443,504
|
|
*
|
|
Raciborska
Fabryka Kotlow SA
|
|
1,155,432
|
|
2,384,073
|
|
23
*
|
|
Stalexport
SA
|
|
889,216
|
|
431,417
|
|
*
|
|
Sygnity
SA
|
|
103,024
|
|
654,465
|
|
*
|
|
Synthos
SA
|
|
6,535,154
|
|
1,221,394
|
|
*
|
|
Vistula
Group SA
|
|
8,000
|
|
2,866
|
|
|
|
Zelmer
SA
|
|
3,000
|
|
23,517
|
|
|
|
|
|
|
|
TOTAL
POLAND
|
|
|
|
127,976,409
|
|
|
|
|
|
|
|
SOUTH
AFRICA (10.3%)
|
|
|
|
|
|
COMMON
STOCKS (10.3%)
|
|
|
|
|
|
#
|
|
ABSA
Group, Ltd.
|
|
2,423,130
|
|
27,945,344
|
|
|
|
Adcorp
Holdings, Ltd.
|
|
152,955
|
|
377,079
|
|
|
|
Advtech,
Ltd.
|
|
1,558,456
|
|
731,014
|
|
|
|
Aeci,
Ltd.
|
|
1,637,382
|
|
9,382,339
|
|
|
|
Afgri,
Ltd.
|
|
3,987,067
|
|
2,295,078
|
|
|
|
African
Bank Investments, Ltd.
|
|
3,907,775
|
|
12,382,174
|
|
|
|
African
Oxygen, Ltd.
|
|
734,706
|
|
1,471,698
|
|
|
|
African
Rainbow Minerals, Ltd.
|
|
1,163,169
|
|
15,714,943
|
|
|
|
Allied
Electronics Corp., Ltd.
|
|
534,406
|
|
1,383,402
|
|
|
|
Allied
Technologies, Ltd.
|
|
196,345
|
|
1,327,137
|
|
|
|
AngloGold
Ashanti, Ltd.
|
|
403,609
|
|
12,398,110
|
|
|
|
ArcelorMittal
South Africa, Ltd.
|
|
2,008,265
|
|
18,717,342
|
|
|
|
Argent
Industrial, Ltd.
|
|
1,272,940
|
|
1,194,751
|
|
*
|
|
Argility,
Ltd.
|
|
130,947
|
|
|
|
*
|
|
Aspen
Pharmacare Holdings, Ltd.
|
|
397,125
|
|
2,015,165
|
|
|
|
AST
Group, Ltd.
|
|
1,842,229
|
|
101,424
|
|
|
|
Astral
Foods, Ltd.
|
|
139,135
|
|
1,619,001
|
|
#
|
|
Aveng,
Ltd.
|
|
3,144,927
|
|
12,027,565
|
|
|
|
AVI,
Ltd.
|
|
4,469,388
|
|
8,657,976
|
|
*
|
|
Avusa,
Ltd.
|
|
391,810
|
|
815,851
|
|
|
|
Barloworld,
Ltd.
|
|
2,126,852
|
|
8,995,144
|
|
*
|
|
Bell
Equipment, Ltd.
|
|
368,870
|
|
240,499
|
|
|
|
Bidvest
Group, Ltd.
|
|
230,871
|
|
2,440,799
|
|
|
|
Business
Connexion Group
|
|
465,381
|
|
183,910
|
|
|
|
Capitec
Bank Holdings, Ltd.
|
|
179,693
|
|
824,360
|
|
|
|
Cashbuild,
Ltd.
|
|
60,784
|
|
466,249
|
|
|
|
Caxton &
CTP Publishers & Printers, Ltd.
|
|
3,015,054
|
|
3,924,648
|
|
*
|
|
Cipla
Medpro South Africa, Ltd.
|
|
3,233,310
|
|
1,579,391
|
|
|
|
City
Lodge Hotels, Ltd.
|
|
94,820
|
|
747,950
|
|
*
|
|
Corpgro,
Ltd.
|
|
579,166
|
|
|
|
|
|
Data
Tec, Ltd.
|
|
2,446,932
|
|
4,817,229
|
|
|
|
Datacentrix
Holdings, Ltd.
|
|
959,663
|
|
384,859
|
|
|
|
Delta
Electrical Industries, Ltd.
|
|
234,340
|
|
241,482
|
|
|
|
Dimension
Data Holdings P.L.C.
|
|
3,977,377
|
|
2,975,687
|
|
|
|
Discovery
Holdings, Ltd.
|
|
136,687
|
|
396,530
|
|
|
|
Distell
Group, Ltd.
|
|
544,476
|
|
3,466,431
|
|
|
|
Distribution &
Warehousing Network, Ltd.
|
|
216,722
|
|
173,118
|
|
|
|
Durban
Roodeport Deep, Ltd.
|
|
1,462,175
|
|
1,162,086
|
|
*
|
|
ElementOne,
Ltd.
|
|
391,810
|
|
495,963
|
|
*
|
|
Eqstra
Holdings, Ltd.
|
|
829,977
|
|
583,958
|
|
|
|
Exxaro
Resources, Ltd.
|
|
103,649
|
|
759,886
|
|
|
|
Famous
Brands, Ltd.
|
|
206,074
|
|
391,803
|
|
24
|
|
FirstRand,
Ltd.
|
|
4,842,130
|
|
7,396,293
|
|
|
|
Foschini,
Ltd.
|
|
281,329
|
|
1,488,855
|
|
|
|
Freeworld
Coatings, Ltd.
|
|
2,085,597
|
|
1,417,691
|
|
#
|
|
Gold
Fields, Ltd.
|
|
487,041
|
|
5,065,860
|
|
#
|
|
Gold
Fields, Ltd. Sponsored ADR
|
|
5,386,450
|
|
56,019,080
|
|
|
|
Gold
Reef Resorts, Ltd.
|
|
519,880
|
|
1,074,346
|
|
|
|
Grindrod,
Ltd.
|
|
293,553
|
|
481,066
|
|
|
|
Group
Five, Ltd.
|
|
465,209
|
|
1,730,522
|
|
*
|
|
Harmony
Gold Mining Co., Ltd.
|
|
2,941,322
|
|
27,381,990
|
|
*
|
|
Harmony
Gold Mining Co., Ltd. Sponsored ADR
|
|
383,651
|
|
3,575,627
|
|
|
|
Highveld
Steel & Vanadilum Corp., Ltd.
|
|
264,444
|
|
2,062,266
|
|
|
|
Hudaco
Industries, Ltd.
|
|
162,006
|
|
933,155
|
|
#
|
|
Hulamin,
Ltd.
|
|
882,088
|
|
1,066,909
|
|
|
|
Iliad
Africa, Ltd.
|
|
76,658
|
|
58,682
|
|
|
|
Illovo
Sugar, Ltd.
|
|
1,516,761
|
|
4,629,943
|
|
|
|
Impala
Platinum Holdings, Ltd.
|
|
300,321
|
|
5,738,244
|
|
|
|
Imperial
Holdings, Ltd.
|
|
1,552,015
|
|
9,943,458
|
|
|
|
Investec,
Ltd.
|
|
2,292,683
|
|
10,847,195
|
|
*
|
|
JCI,
Ltd.
|
|
4,289,448
|
|
|
|
|
|
JD
Group, Ltd.
|
|
106,369
|
|
426,269
|
|
*
|
|
JSE,
Ltd.
|
|
53,811
|
|
330,263
|
|
|
|
Kumba
Iron Ore, Ltd.
|
|
117,551
|
|
2,241,527
|
|
|
|
Lewis
Group, Ltd.
|
|
1,114,052
|
|
5,500,671
|
|
|
|
Liberty
Holdings, Ltd.
|
|
1,458,029
|
|
9,973,668
|
|
*
|
|
M
Cubed Holdings, Ltd.
|
|
1,850,526
|
|
43,709
|
|
|
|
Massmart
Holdings, Ltd.
|
|
177,731
|
|
1,534,307
|
|
|
|
Medi-Clinic
Corp., Ltd.
|
|
2,253,843
|
|
5,445,819
|
|
*
|
|
Merafe
Resources, Ltd.
|
|
10,469,632
|
|
968,434
|
|
*
|
|
Metair
Investments, Ltd.
|
|
1,650,332
|
|
873,693
|
|
*
|
|
Metorex,
Ltd.
|
|
492,898
|
|
99,252
|
|
|
|
Metropolitan
Holdings, Ltd.
|
|
8,873,678
|
|
11,103,534
|
|
#
|
|
Mondi,
Ltd.
|
|
517,591
|
|
1,729,002
|
|
|
|
Mr. Price
Group, Ltd.
|
|
534,202
|
|
1,635,159
|
|
|
|
MTN
Group, Ltd.
|
|
151,516
|
|
1,967,161
|
|
|
|
Murray &
Roberts Holdings, Ltd.
|
|
1,803,099
|
|
10,063,735
|
|
|
|
Mvelaphanda
Group, Ltd.
|
|
4,125,843
|
|
2,256,306
|
|
|
|
Nampak,
Ltd.
|
|
5,955,540
|
|
8,813,072
|
|
|
|
Naspers,
Ltd. Series N
|
|
432,614
|
|
8,816,084
|
|
#
|
|
Nedbank
Group, Ltd.
|
|
2,710,554
|
|
27,645,668
|
|
|
|
Network
Healthcare Holdings, Ltd.
|
|
1,524,093
|
|
1,671,398
|
|
|
|
New
Clicks Holdings, Ltd.
|
|
3,409,228
|
|
6,574,041
|
|
#
|
|
Northam
Platinum, Ltd.
|
|
850,632
|
|
2,812,463
|
|
|
|
Nu-World
Holdings, Ltd.
|
|
158,299
|
|
261,457
|
|
|
|
Oceana
Group, Ltd.
|
|
482,566
|
|
1,385,124
|
|
|
|
Omnia
Holdings, Ltd.
|
|
516,966
|
|
3,153,954
|
|
|
|
Palabora
Mining Co., Ltd.
|
|
192,276
|
|
1,396,692
|
|
|
|
Peregrine
Holdings, Ltd.
|
|
1,129,448
|
|
860,087
|
|
|
|
Pickn
Pay Stores, Ltd.
|
|
117,630
|
|
421,900
|
|
|
|
Pretoria
Portland Cement Co., Ltd.
|
|
2,190,935
|
|
8,409,490
|
|
|
|
PSG
Group, Ltd.
|
|
1,076,599
|
|
2,007,879
|
|
*
|
|
Randgold &
Exploration Co., Ltd.
|
|
256,811
|
|
|
|
|
|
Raubex
Group, Ltd.
|
|
50,781
|
|
131,057
|
|
25
|
|
Redefine
Income Fund, Ltd.
|
|
83,325
|
|
70,167
|
|
|
|
Reunert,
Ltd.
|
|
651,562
|
|
3,219,954
|
|
|
|
Sanlam,
Ltd.
|
|
28,877,831
|
|
53,897,343
|
|
|
|
Santam,
Ltd.
|
|
18,334
|
|
168,577
|
|
|
|
Sappi,
Ltd.
|
|
3,330,136
|
|
8,889,008
|
|
#
|
|
Sappi,
Ltd. Sponsored ADR
|
|
692,000
|
|
1,799,200
|
|
|
|
Sasol,
Ltd. Sponsored ADR
|
|
708,659
|
|
21,337,722
|
|
|
|
Shoprite
Holdings, Ltd.
|
|
62,090
|
|
371,981
|
|
*
|
|
Simmer &
Jack Mines, Ltd.
|
|
297,043
|
|
95,498
|
|
|
|
Spur
Corp., Ltd.
|
|
385,679
|
|
372,361
|
|
|
|
Standard
Bank Group, Ltd.
|
|
1,129,030
|
|
10,908,925
|
|
|
|
Steinhoff
International Holdings, Ltd.
|
|
9,727,233
|
|
11,658,198
|
|
|
|
Sun
International, Ltd.
|
|
367,959
|
|
3,486,074
|
|
#
|
|
Telkom
South Africa, Ltd.
|
|
944,704
|
|
11,903,069
|
|
|
|
Telkom
South Africa, Ltd. Sponsored ADR
|
|
5,288
|
|
265,828
|
|
|
|
The
Spar Group, Ltd.
|
|
622,960
|
|
3,889,583
|
|
|
|
Tiger
Brands, Ltd.
|
|
171,336
|
|
2,661,647
|
|
*
|
|
Tiger
Wheels, Ltd.
|
|
575,610
|
|
|
|
|
|
Tongaat-Hulett,
Ltd.
|
|
266,171
|
|
2,347,846
|
|
|
|
Trans
Hex Group, Ltd.
|
|
509,906
|
|
87,467
|
|
|
|
Trencor,
Ltd.
|
|
1,468,675
|
|
3,018,413
|
|
|
|
Truworths
International, Ltd.
|
|
711,817
|
|
2,841,143
|
|
|
|
UCS
Group, Ltd.
|
|
1,814,728
|
|
277,990
|
|
|
|
Value
Group, Ltd.
|
|
874,662
|
|
308,856
|
|
|
|
Woolworths
Holdings, Ltd.
|
|
2,641,256
|
|
3,725,818
|
|
|
|
|
|
|
|
TOTAL
SOUTH AFRICA
|
|
|
|
584,876,100
|
|
|
|
|
|
|
|
SOUTH
KOREA (11.1%)
|
|
|
|
|
|
COMMON
STOCKS (11.1%)
|
|
|
|
|
|
#
|
|
Aekyung
Petrochemical Co., Ltd.
|
|
19,060
|
|
283,854
|
|
*
|
|
Anam
Electronics Co., Ltd.
|
|
24,280
|
|
58,852
|
|
*
|
|
Artone
Paper Manufacturing Co., Ltd.
|
|
25,355
|
|
46,032
|
|
#
|
|
Asia
Cement Manufacturing Co., Ltd.
|
|
28,888
|
|
998,480
|
|
*
|
|
Asia
Paper Manufacturing Co., Ltd.
|
|
34,410
|
|
208,892
|
|
*
|
|
Asiana
Airlines, Inc.
|
|
75,670
|
|
244,789
|
|
*
|
|
AUK
Corp.
|
|
40,090
|
|
73,435
|
|
#
|
|
Bing
Grae Co., Ltd.
|
|
29,190
|
|
916,623
|
|
* #
|
|
BNG
Steel Co., Ltd
|
|
41,370
|
|
258,578
|
|
|
|
Bohae
Brewery Co., Ltd.
|
|
8,830
|
|
111,317
|
|
*
|
|
Boo
Kook Securities Co., Ltd.
|
|
27,705
|
|
518,115
|
|
|
|
Boryung
Pharmaceutical Co., Ltd.
|
|
11,018
|
|
224,571
|
|
|
|
Busan
Bank
|
|
708,450
|
|
3,885,895
|
|
|
|
BYC
Co., Ltd.
|
|
810
|
|
81,108
|
|
|
|
Byuck
San Corp.
|
|
10,472
|
|
76,354
|
|
*
|
|
Byuck
San Engineering and Construction Co., Ltd.
|
|
87,860
|
|
204,157
|
|
*
|
|
C &
Heavy Industries Co., Ltd.
|
|
59,460
|
|
8,110
|
|
|
|
Cambridge
Members Co., Ltd.
|
|
8,070
|
|
60,220
|
|
|
|
Cheil
Industrial, Inc.
|
|
107,574
|
|
3,862,352
|
|
*
|
|
Cho
Kwang Leather Co., Ltd.
|
|
13,660
|
|
69,890
|
|
|
|
Cho
Kwang Paint Co., Ltd.
|
|
24,260
|
|
56,824
|
|
*
|
|
Choil
Aluminum Manufacturing Co., Ltd.
|
|
13,190
|
|
55,837
|
|
26
*
|
|
Chon
Bang Co., Ltd.
|
|
2,520
|
|
54,755
|
|
#
|
|
Choongwae
Pharmaceutical Corp.
|
|
24,657
|
|
296,140
|
|
|
|
Chosun
Refractories Co., Ltd.
|
|
10,390
|
|
473,563
|
|
#
|
|
Chungho
Comnet Co., Ltd.
|
|
24,590
|
|
272,888
|
|
|
|
CJ
Cheiljedang Corp.
|
|
505
|
|
62,240
|
|
#
|
|
CJ
Corp.
|
|
90,342
|
|
3,474,411
|
|
*
|
|
Comtec
Systems Co., Ltd.
|
|
75,460
|
|
61,240
|
|
* #
|
|
Cosmochemical
Co., Ltd.
|
|
47,640
|
|
203,366
|
|
#
|
|
Crown
Confectionery Co., Ltd.
|
|
2,910
|
|
132,047
|
|
*
|
|
Dae
Chang Industrial Co., Ltd.
|
|
257,400
|
|
111,361
|
|
|
|
Dae
Dong Industrial Co., Ltd.
|
|
17,320
|
|
246,589
|
|
|
|
Dae
Hyun Co., Ltd.
|
|
192,600
|
|
106,548
|
|
* #
|
|
Dae
Sang Corp.
|
|
110,202
|
|
546,751
|
|
|
|
Dae
Won Kang Up Co., Ltd.
|
|
238,400
|
|
316,062
|
|
*
|
|
Dae
Young Packaging Co., Ltd.
|
|
388,976
|
|
121,455
|
|
#
|
|
Daeduck
Electronics Co., Ltd.
|
|
227,450
|
|
746,655
|
|
#
|
|
Daeduck
Industries Co., Ltd.
|
|
68,930
|
|
374,936
|
|
|
|
Daegu
Bank Co., Ltd.
|
|
672,652
|
|
4,618,648
|
|
#
|
|
Daehan
Flour Mills Co., Ltd.
|
|
5,955
|
|
607,911
|
|
|
|
Daehan
Synthetic Fiber Co., Ltd.
|
|
5,193
|
|
282,683
|
|
#
|
|
Daekyo
Co., Ltd.
|
|
346,480
|
|
1,693,433
|
|
#
|
|
Daelim
Industrial Co., Ltd.
|
|
144,089
|
|
6,994,923
|
|
|
|
Daelim
Trading Co., Ltd.
|
|
31,734
|
|
101,155
|
|
|
|
Daesang
Holdings Co., Ltd.
|
|
33,096
|
|
76,505
|
|
#
|
|
Daesung
Industrial Co., Ltd.
|
|
8,895
|
|
516,009
|
|
*
|
|
Daewon
Cable Co., Ltd.
|
|
13,570
|
|
71,414
|
|
|
|
Daewon
Pharmaceutical Co., Ltd.
|
|
39,180
|
|
152,294
|
|
#
|
|
Daewoo
Engineering & Construction Co., Ltd.
|
|
57,850
|
|
507,353
|
|
* #
|
|
Daewoo
Motor Sales Corp.
|
|
159,350
|
|
1,670,367
|
|
*
|
|
Daewoong
Co., Ltd.
|
|
14,890
|
|
261,478
|
|
|
|
Dahaam
E-Tec Co., Ltd.
|
|
5,985
|
|
135,837
|
|
* #
|
|
Daishin
Securities Co., Ltd.
|
|
248,481
|
|
3,456,468
|
|
* #
|
|
Daiyang
Metal Co., Ltd.
|
|
77,290
|
|
177,903
|
|
#
|
|
Daou
Technology, Inc.
|
|
145,600
|
|
899,410
|
|
#
|
|
DC
Chemical Co., Ltd.
|
|
1,370
|
|
240,244
|
|
*
|
|
DI
Corp.
|
|
101,890
|
|
111,090
|
|
|
|
Digital
Power Communications Co., Ltd.
|
|
113,840
|
|
118,040
|
|
|
|
Dong
Ah Tire Industrial Co., Ltd.
|
|
51,594
|
|
333,327
|
|
*
|
|
Dong
Hai Pulp Co., Ltd.
|
|
6,457
|
|
32,223
|
|
|
|
Dong
IL Rubber Belt Co., Ltd.
|
|
40,761
|
|
61,085
|
|
* #
|
|
Dong
Wha Pharmaceutical Industries Co., Ltd.
|
|
10,828
|
|
336,569
|
|
* #
|
|
Dong
Won Co., Ltd.
|
|
14,220
|
|
89,166
|
|
|
|
Dongbang
Agro Co., Ltd.
|
|
53,610
|
|
292,996
|
|
|
|
Dongbang
Transport Logistics Co., Ltd.
|
|
51,750
|
|
101,089
|
|
|
|
Dongbu
Corp.
|
|
73,520
|
|
642,420
|
|
* #
|
|
Dongbu
HiTek Co., Ltd.
|
|
104,044
|
|
770,658
|
|
* #
|
|
Dongbu
Securities Co., Ltd.
|
|
123,376
|
|
691,691
|
|
#
|
|
Dongbu
Steel Co., Ltd.
|
|
92,198
|
|
654,506
|
|
|
|
Dong-Il
Corp.
|
|
6,378
|
|
264,711
|
|
*
|
|
Dongkook
Industrial Co., Ltd.
|
|
16,200
|
|
19,240
|
|
#
|
|
Dongkuk
Steel Mill Co., Ltd.
|
|
192,032
|
|
4,373,531
|
|
|
|
Dongsung
Pharmaceutical Co., Ltd.
|
|
92,550
|
|
114,283
|
|
27
|
|
Dongwon
F&B Co., Ltd.
|
|
10,026
|
|
266,700
|
|
#
|
|
Dongwon
Industries Co., Ltd.
|
|
7,116
|
|
498,854
|
|
|
|
Dongyang
Engineering & Construction Corp.
|
|
6,597
|
|
115,529
|
|
|
|
Dongyang
Express Bus Corp.
|
|
3,729
|
|
71,720
|
|
#
|
|
Dongyang
Mechatronics Corp.
|
|
115,477
|
|
397,806
|
|
#
|
|
Doosan
Heavy Industries & Construction Co., Ltd.
|
|
1,479
|
|
96,484
|
|
|
|
DPI
Co., Ltd.
|
|
22,738
|
|
99,364
|
|
|
|
Duck
Yang Industry Co., Ltd.
|
|
4,000
|
|
21,335
|
|
#
|
|
Ducsung
Co., Ltd.
|
|
45,260
|
|
66,301
|
|
*
|
|
Eagon
Industrial Co., Ltd.
|
|
11,400
|
|
128,103
|
|
|
|
e-Starco
Co., Ltd.
|
|
170,050
|
|
136,086
|
|
|
|
F&F
Co., Ltd.
|
|
62,660
|
|
155,650
|
|
*
|
|
First
Fire & Marine Insurance Co., Ltd.
|
|
28,830
|
|
155,297
|
|
|
|
Fursys, Inc.
|
|
29,120
|
|
529,298
|
|
|
|
Gaon
Cable Co., Ltd.
|
|
12,730
|
|
317,134
|
|
#
|
|
GIIR, Inc.
|
|
31,610
|
|
222,891
|
|
#
|
|
Global &
Yuasa Battery Co., Ltd.
|
|
53,100
|
|
1,234,654
|
|
|
|
Green
Cross Holdings Corp.
|
|
10,540
|
|
543,593
|
|
#
|
|
GS
Holdings Corp.
|
|
285,000
|
|
6,835,992
|
|
|
|
Hae
In Co., Ltd.
|
|
24,780
|
|
100,621
|
|
#
|
|
Halla
Climate Control Corp.
|
|
90,050
|
|
617,553
|
|
#
|
|
Halla
Engineering & Construction Corp.
|
|
38,260
|
|
741,279
|
|
*
|
|
Han
All Pharmaceutical Co., Ltd.
|
|
79,410
|
|
335,957
|
|
#
|
|
Han
Kuk Carbon Co., Ltd.
|
|
25,070
|
|
139,613
|
|
* #
|
|
Han
Yang Securities Co., Ltd.
|
|
57,340
|
|
488,645
|
|
|
|
Hana
Financial Group, Inc.
|
|
560,583
|
|
9,655,455
|
|
|
|
Handok
Pharmaceuticals Co., Ltd.
|
|
18,150
|
|
183,091
|
|
#
|
|
Handsome
Corp.
|
|
110,990
|
|
817,613
|
|
#
|
|
Hanil
Cement Manufacturing Co., Ltd.
|
|
25,603
|
|
1,668,466
|
|
|
|
Hanil
Construction Co., Ltd.
|
|
38,025
|
|
236,174
|
|
|
|
Hanil
E-Wha Co., Ltd.
|
|
135,210
|
|
277,733
|
|
*
|
|
Hanil
Iron & Steel Co., Ltd.
|
|
1,815
|
|
19,307
|
|
|
|
Hanjin
Heavy Industries & Construction Co., Ltd.
|
|
115,934
|
|
3,241,192
|
|
|
|
Hanjin
Heavy Industries & Construction Holdings Co., Ltd.
|
|
91,460
|
|
1,408,323
|
|
#
|
|
Hanjin
Shipping Co., Ltd.
|
|
270,360
|
|
4,115,360
|
|
#
|
|
Hanjin
Transportation Co., Ltd.
|
|
38,000
|
|
947,311
|
|
|
|
Hankook
Cosmetics Co., Ltd.
|
|
110,860
|
|
269,002
|
|
|
|
Hankook
Shell Oil Co., Ltd.
|
|
1,880
|
|
113,115
|
|
#
|
|
Hankook
Tire Manufacturing Co., Ltd.
|
|
492,550
|
|
5,872,962
|
|
|
|
Hankuk
Electric Glass Co., Ltd.
|
|
990
|
|
19,784
|
|
|
|
Hankuk
Glass Industries, Inc.
|
|
29,050
|
|
528,598
|
|
#
|
|
Hankuk
Paper Manufacturing Co., Ltd.
|
|
14,500
|
|
396,375
|
|
*
|
|
Hansae
Co., Ltd.
|
|
32,917
|
|
154,964
|
|
|
|
Hansae
Yes24 Holdings Co., Ltd.
|
|
10,972
|
|
28,687
|
|
|
|
Hanshin
Construction Co., Ltd.
|
|
24,880
|
|
281,576
|
|
#
|
|
Hansol
Chemical Co., Ltd.
|
|
35,837
|
|
240,266
|
|
*
|
|
Hansol
Paper Co., Ltd.
|
|
179,464
|
|
1,326,434
|
|
#
|
|
Hanssem
Co., Ltd.
|
|
60,410
|
|
351,193
|
|
*
|
|
Hansung
Enterprise Co., Ltd.
|
|
9,410
|
|
43,467
|
|
|
|
Hanwha
Chemical Corp.
|
|
363,242
|
|
3,266,746
|
|
* #
|
|
Hanwha
Securities Co., Ltd.
|
|
219,425
|
|
1,878,928
|
|
|
|
Hanwha
Timeworld Co., Ltd.
|
|
9,000
|
|
67,960
|
|
28
#
|
|
Heung-A
Shipping Co., Ltd.
|
|
63,680
|
|
64,285
|
|
#
|
|
Hite
Holdings Co., Ltd.
|
|
30,390
|
|
767,633
|
|
* #
|
|
HMC
Investment Securities Co., Ltd.
|
|
42,113
|
|
813,892
|
|
#
|
|
Honam
Petrochemical Corp.
|
|
67,515
|
|
4,031,439
|
|
|
|
Hotel
Shilla Co., Ltd.
|
|
67,520
|
|
836,911
|
|
*
|
|
HS
R&A Co., Ltd.
|
|
12,680
|
|
67,294
|
|
#
|
|
Huchems
Fine Chemical Corp.
|
|
38,970
|
|
781,509
|
|
*
|
|
Huneed
Technologies
|
|
9,003
|
|
37,010
|
|
#
|
|
Husteel
Co., Ltd.
|
|
22,160
|
|
333,856
|
|
#
|
|
Hwa
Sung Industrial Co., Ltd.
|
|
44,200
|
|
219,430
|
|
|
|
Hwacheon
Machine Tool Co., Ltd.
|
|
2,050
|
|
50,208
|
|
|
|
Hwacheon
Machinery Works Co., Ltd.
|
|
4,490
|
|
48,608
|
|
|
|
Hwashin
Co., Ltd.
|
|
59,700
|
|
99,770
|
|
* #
|
|
Hynix
Semiconductor, Inc.
|
|
1,389,098
|
|
15,597,643
|
|
#
|
|
Hyosung
T & C Co., Ltd.
|
|
124,047
|
|
7,710,419
|
|
*
|
|
Hyundai
Cement Co., Ltd.
|
|
17,245
|
|
217,299
|
|
#
|
|
Hyundai
DSF Co., Ltd.
|
|
38,700
|
|
236,772
|
|
#
|
|
Hyundai
Elevator Co., Ltd.
|
|
22,090
|
|
1,217,185
|
|
#
|
|
Hyundai
H & S Co., Ltd.
|
|
21,786
|
|
983,355
|
|
#
|
|
Hyundai
Hysco
|
|
270,550
|
|
1,951,404
|
|
#
|
|
Hyundai
Merchant Marine Co., Ltd.
|
|
87,351
|
|
1,816,617
|
|
|
|
Hyundai
Mipo Dockyard Co., Ltd.
|
|
51,203
|
|
5,965,748
|
|
|
|
Hyundai
Mobis
|
|
3,297
|
|
253,019
|
|
#
|
|
Hyundai
Motor Co., Ltd.
|
|
764,050
|
|
40,826,973
|
|
|
|
Hyundai
Pharmaceutical Ind. Co., Ltd.
|
|
104,700
|
|
225,556
|
|
*
|
|
Hyundai
Securities Co., Ltd.
|
|
643,939
|
|
7,513,245
|
|
#
|
|
Hyundai
Steel Co.
|
|
238,900
|
|
10,086,096
|
|
*
|
|
Il
Dong Pharmaceutical Co., Ltd.
|
|
20,084
|
|
639,057
|
|
|
|
Il
Sung Construction Co., Ltd.
|
|
7,660
|
|
42,683
|
|
|
|
Iljin
Diamond Co., Ltd.
|
|
5,782
|
|
56,888
|
|
*
|
|
Iljin
Display Co., Ltd.
|
|
14,591
|
|
77,295
|
|
*
|
|
Iljin
Holdings Co., Ltd.
|
|
96,174
|
|
290,216
|
|
|
|
Ilshin
Spinning Co., Ltd.
|
|
5,070
|
|
233,630
|
|
#
|
|
Ilsung
Pharmaceutical Co., Ltd.
|
|
9,060
|
|
482,115
|
|
#
|
|
InziControls
Co., Ltd.
|
|
27,640
|
|
71,162
|
|
|
|
IS
Dongseo Co., Ltd.
|
|
27,140
|
|
195,759
|
|
#
|
|
ISU
Chemical Co., Ltd.
|
|
19,790
|
|
211,316
|
|
#
|
|
IsuPetasys
Co., Ltd.
|
|
116,640
|
|
160,435
|
|
#
|
|
Jahwa
Electronics Co., Ltd.
|
|
69,130
|
|
361,392
|
|
|
|
Jeil
Mutual Savings Bank
|
|
40,900
|
|
147,325
|
|
|
|
Jeil
Pharmaceutical Co.
|
|
33,420
|
|
241,616
|
|
#
|
|
Jeonbuk
Bank, Ltd.
|
|
202,062
|
|
931,465
|
|
*
|
|
Jinro,
Ltd.
|
|
57
|
|
14,275
|
|
* #
|
|
Joongang
Construction Co., Ltd.
|
|
20,550
|
|
104,578
|
|
#
|
|
K.C.
Tech Co., Ltd.
|
|
109,497
|
|
331,362
|
|
* #
|
|
KB
Financial Group, Inc. ADR
|
|
1,203,424
|
|
38,365,157
|
|
|
|
KCC
Corp.
|
|
29,050
|
|
8,057,823
|
|
|
|
KCTC
|
|
6,030
|
|
65,325
|
|
* #
|
|
Keangnam
Enterprises, Ltd.
|
|
53,600
|
|
489,989
|
|
* #
|
|
KEC
Corp.
|
|
116,249
|
|
70,813
|
|
|
|
KEC
Holdings Co., Ltd.
|
|
38,749
|
|
30,290
|
|
|
|
Keyang
Electric Machinery Co., Ltd.
|
|
187,450
|
|
240,326
|
|
29
#
|
|
KG
Chemical Corp.
|
|
36,983
|
|
250,277
|
|
* #
|
|
Kia
Motors Corp.
|
|
986,780
|
|
8,648,129
|
|
#
|
|
KISCO
Corp.
|
|
29,571
|
|
1,243,186
|
|
|
|
KISWIRE,
Ltd.
|
|
50,083
|
|
1,978,015
|
|
|
|
Kodenshi
Korea Corp.
|
|
64,590
|
|
191,946
|
|
|
|
Kolon
Engineering & Construction Co., Ltd.
|
|
63,270
|
|
416,473
|
|
#
|
|
Kolon
Industries, Inc.
|
|
70,909
|
|
1,956,716
|
|
*
|
|
Korea
Cast Iron Pipe Co., Ltd.
|
|
63,778
|
|
223,650
|
|
*
|
|
Korea
Circuit Co., Ltd.
|
|
57,220
|
|
132,637
|
|
* #
|
|
Korea
Development Co., Ltd.
|
|
40,490
|
|
227,404
|
|
*
|
|
Korea
Development Leasing Corp.
|
|
12,762
|
|
275,971
|
|
#
|
|
Korea
Electric Terminal Co., Ltd.
|
|
42,160
|
|
553,027
|
|
#
|
|
Korea
Exchange Bank
|
|
1,137,620
|
|
6,481,482
|
|
#
|
|
Korea
Export Packing Industries Co., Ltd.
|
|
5,420
|
|
41,779
|
|
*
|
|
Korea
Flange Co., Ltd.
|
|
18,630
|
|
170,914
|
|
*
|
|
Korea
Green Paper Manufacturing Co., Ltd.
|
|
21,304
|
|
36,863
|
|
*
|
|
Korea
Investment Holdings Co., Ltd.
|
|
207,626
|
|
5,259,396
|
|
#
|
|
Korea
Iron & Steel Co., Ltd.
|
|
8,957
|
|
398,495
|
|
* #
|
|
Korea
Kolmar Co., Ltd.
|
|
20,300
|
|
57,096
|
|
#
|
|
Korea
Komho Petrochemical Co., Ltd.
|
|
61,869
|
|
1,661,754
|
|
#
|
|
Korea
Line Corp.
|
|
35,553
|
|
2,108,414
|
|
#
|
|
Korea
Mutual Savings Bank
|
|
18,280
|
|
294,038
|
|
* #
|
|
Korea
Petrochemical Industry Co., Ltd.
|
|
25,400
|
|
821,686
|
|
#
|
|
Korea
Zinc Co., Ltd.
|
|
35,825
|
|
3,872,936
|
|
*
|
|
Korean
Air Co., Ltd.
|
|
205,694
|
|
6,266,254
|
|
|
|
Korean
Air Terminal Service Co., Ltd.
|
|
10,970
|
|
287,280
|
|
*
|
|
Korean
French Banking Corp.
|
|
167,589
|
|
105,868
|
|
* #
|
|
KP
Chemical Corp.
|
|
304,576
|
|
1,666,135
|
|
|
|
KPX
Chemical Co., Ltd.
|
|
9,632
|
|
325,188
|
|
#
|
|
KPX
Fine Chemical Co., Ltd.
|
|
6,795
|
|
242,613
|
|
|
|
KPX
Holdings Corp.
|
|
7,249
|
|
214,956
|
|
*
|
|
KT
Freetel, Ltd.
|
|
458,000
|
|
9,461,182
|
|
* #
|
|
KTB
Securities Co., Ltd.
|
|
255,110
|
|
1,040,340
|
|
#
|
|
Kukdo
Chemical Co., Ltd.
|
|
15,960
|
|
472,866
|
|
*
|
|
Kukje
Pharm Ind. Co., Ltd.
|
|
32,956
|
|
77,132
|
|
#
|
|
Kumho
Electronics Co., Ltd.
|
|
15,879
|
|
466,296
|
|
|
|
Kumho
Industrial Co., Ltd.
|
|
98,875
|
|
1,780,459
|
|
*
|
|
Kumho
Investment Bank
|
|
637,880
|
|
301,438
|
|
* #
|
|
Kumho
Tire Co., Inc.
|
|
286,360
|
|
1,376,870
|
|
#
|
|
Kumkang
Industrial Co., Ltd.
|
|
11,170
|
|
102,369
|
|
|
|
Kunsul
Chemical Industrial Co., Ltd.
|
|
22,480
|
|
221,151
|
|
#
|
|
Kwang
Dong Pharmaceutical Co., Ltd.
|
|
243,890
|
|
638,923
|
|
*
|
|
Kwang
Myung Electric Engineering Co., Ltd.
|
|
102,680
|
|
79,680
|
|
|
|
Kyeryong
Construction Industrial Co., Ltd.
|
|
26,510
|
|
571,842
|
|
* #
|
|
Kyobo
Securities Co., Ltd.
|
|
67,440
|
|
593,265
|
|
|
|
Kyung
Dong Navien Co., Ltd.
|
|
3,450
|
|
79,181
|
|
|
|
Kyung
Nong Corp.
|
|
60,670
|
|
183,353
|
|
*
|
|
Kyungbang
Co., Ltd.
|
|
2,312
|
|
232,543
|
|
|
|
Lee
Ku Industrial Co., Ltd.
|
|
60,490
|
|
47,808
|
|
|
|
LG
Chemical, Ltd.
|
|
175,904
|
|
19,421,995
|
|
#
|
|
LG
Corp.
|
|
8,397
|
|
371,704
|
|
|
|
LG
Dacom Corp.
|
|
219,720
|
|
3,366,391
|
|
30
#
|
|
LG
Electronics, Inc.
|
|
108,628
|
|
8,973,983
|
|
#
|
|
LG
Fashion Corp.
|
|
50,470
|
|
854,544
|
|
*
|
|
LG
Hausys, Ltd.
|
|
23,802
|
|
2,133,461
|
|
|
|
LG
International Corp.
|
|
82,553
|
|
1,328,021
|
|
#
|
|
LG
Phillips LCD Co., Ltd.
|
|
444,000
|
|
10,896,171
|
|
#
|
|
Lotte
Chilsung Beverage Co., Ltd.
|
|
3,700
|
|
2,393,733
|
|
#
|
|
Lotte
Confectionary Co., Ltd.
|
|
3,827
|
|
3,081,039
|
|
|
|
Lotte
Midopa Co., Ltd.
|
|
84,420
|
|
893,891
|
|
#
|
|
Lotte
Sam Kang Co., Ltd.
|
|
4,440
|
|
597,474
|
|
|
|
Lotte
Shopping Co., Ltd.
|
|
43,969
|
|
7,679,792
|
|
#
|
|
LS
Corp.
|
|
67,340
|
|
5,302,188
|
|
* #
|
|
Meritz
Securities Co., Ltd.
|
|
928,245
|
|
877,846
|
|
|
|
Mi
Chang Oil Industrial Co., Ltd.
|
|
3,650
|
|
96,895
|
|
|
|
MonAmi
Co., Ltd.
|
|
693
|
|
5,293
|
|
#
|
|
Moorim
Paper Co., Ltd.
|
|
57,710
|
|
364,652
|
|
|
|
Motonic
Corp.
|
|
6,400
|
|
31,311
|
|
#
|
|
Namhae
Chemical Corp.
|
|
70,640
|
|
1,242,329
|
|
* #
|
|
Namkwang
Engineering & Construction Co., Ltd.
|
|
29,854
|
|
314,002
|
|
|
|
Namyang
Dairy Products Co., Ltd.
|
|
2,226
|
|
886,801
|
|
*
|
|
Nasan
Co., Ltd.
|
|
64,971
|
|
63,234
|
|
|
|
Nexen
Corp.
|
|
5,680
|
|
116,437
|
|
#
|
|
Nexen
Tire Corp.
|
|
375,930
|
|
1,174,650
|
|
*
|
|
NH
Investment & Securities Co., Ltd.
|
|
176,431
|
|
1,059,268
|
|
#
|
|
Nong
Shim Co., Ltd.
|
|
15,130
|
|
2,553,129
|
|
|
|
Nong
Shim Holdings Co., Ltd.
|
|
7,060
|
|
319,434
|
|
|
|
Noroo
Paint Co., Ltd.
|
|
37,899
|
|
91,342
|
|
*
|
|
ON*Media
Corp.
|
|
334,810
|
|
748,029
|
|
|
|
Ottogi
Corp.
|
|
10,309
|
|
980,405
|
|
|
|
Pacific
Corp.
|
|
17,065
|
|
1,585,320
|
|
|
|
Pacific
Pharmaceutical Co., Ltd.
|
|
3,840
|
|
90,376
|
|
|
|
Pang
Rim Co., Ltd.
|
|
15,040
|
|
174,150
|
|
*
|
|
PaperCorea, Inc.
|
|
19,552
|
|
132,749
|
|
#
|
|
Pohang
Coated Steel Co., Ltd.
|
|
17,630
|
|
368,276
|
|
* #
|
|
Poong
Lim Industrial Co., Ltd.
|
|
74,350
|
|
180,185
|
|
* #
|
|
Poongsan
Corp.
|
|
104,032
|
|
1,273,114
|
|
* #
|
|
Poongsan
Holdings Corp.
|
|
19,558
|
|
274,725
|
|
|
|
POSCO
|
|
420
|
|
129,520
|
|
#
|
|
POSCO
ADR
|
|
1,047,985
|
|
80,663,405
|
|
|
|
Pulmuone
Co., Ltd.
|
|
6,125
|
|
353,361
|
|
|
|
Pum
Yang Construction Co., Ltd.
|
|
21,917
|
|
173,249
|
|
#
|
|
Pusan
City Gas Co., Ltd.
|
|
60,370
|
|
989,830
|
|
*
|
|
Pyung
Hwa Anti-Vibration System Co., Ltd.
|
|
25,545
|
|
35,610
|
|
* #
|
|
Pyung
Hwa Holdings Co., Ltd.
|
|
17,030
|
|
20,542
|
|
|
|
Pyung
Hwa Industrial Co., Ltd.
|
|
42,488
|
|
75,627
|
|
|
|
S&T
Corp.
|
|
144
|
|
3,283
|
|
#
|
|
S&T
Dynamics Co., Ltd.
|
|
138,204
|
|
1,564,058
|
|
|
|
S&T
holdings Co, Ltd.
|
|
52,273
|
|
500,580
|
|
* #
|
|
Saehan
Industries, Inc.
|
|
162,470
|
|
1,323,314
|
|
* #
|
|
Saehan
Media Corp.
|
|
38,923
|
|
87,629
|
|
|
|
Sam
Kwang Glass Industrial Co., Ltd.
|
|
19,870
|
|
626,860
|
|
|
|
Sam
Whan Camus Co., Ltd.
|
|
9,400
|
|
54,949
|
|
|
|
Sam
Yung Trading Co., Ltd.
|
|
13,840
|
|
43,622
|
|
31
#
|
|
Sambu
Construction Co., Ltd.
|
|
24,344
|
|
540,006
|
|
* #
|
|
Samho
International Co., Ltd.
|
|
12,120
|
|
43,956
|
|
|
|
Samhwa
Crown and Closure Co., Ltd.
|
|
3,100
|
|
41,756
|
|
|
|
Samhwa
Paints Industrial Co., Ltd.
|
|
48,610
|
|
141,435
|
|
*
|
|
Samick
Musical Instruments Co., Ltd.
|
|
621,710
|
|
377,989
|
|
|
|
Samsung
Climate Control Co., Ltd.
|
|
11,990
|
|
56,592
|
|
#
|
|
Samsung
Corp.
|
|
569,540
|
|
19,640,501
|
|
|
|
Samsung
Electro-Mechanics Co., Ltd.
|
|
99,520
|
|
4,002,742
|
|
|
|
Samsung
Fine Chemicals Co., Ltd.
|
|
89,080
|
|
3,495,188
|
|
|
|
Samsung
SDI Co., Ltd.
|
|
166,550
|
|
11,953,393
|
|
|
|
Samwhan
Corp.
|
|
40,500
|
|
450,182
|
|
#
|
|
Samyang
Corp.
|
|
35,236
|
|
1,052,228
|
|
|
|
Samyang
Genex Co., Ltd.
|
|
9,472
|
|
425,658
|
|
|
|
Samyang
Tongsang Co., Ltd.
|
|
8,060
|
|
141,179
|
|
#
|
|
Samyoung
Electronics Co., Ltd.
|
|
65,330
|
|
628,509
|
|
*
|
|
SAVEZONE
I&C Corp.
|
|
166,200
|
|
210,881
|
|
|
|
SC
Engineering Co., Ltd.
|
|
34,640
|
|
166,616
|
|
#
|
|
Seah
Besteel Corp.
|
|
100,300
|
|
1,294,695
|
|
|
|
SeAH
Holdings Corp.
|
|
12,561
|
|
677,478
|
|
|
|
SeAH
Steel Corp.
|
|
17,133
|
|
583,233
|
|
#
|
|
Sebang
Co., Ltd.
|
|
80,550
|
|
797,015
|
|
|
|
Sejong
Industrial Co., Ltd.
|
|
101,600
|
|
383,359
|
|
#
|
|
Seondo
Electric Co., Ltd.
|
|
36,672
|
|
64,267
|
|
* #
|
|
Seoul
Securities Co., Ltd.
|
|
2,163,799
|
|
1,937,000
|
|
*
|
|
SGWICUS
Corp.
|
|
20,530
|
|
34,451
|
|
*
|
|
SH
Chemical Co., Ltd.
|
|
528,345
|
|
255,657
|
|
*
|
|
Shin
Poong Paper Manufacturing Co., Ltd.
|
|
14,470
|
|
105,816
|
|
|
|
Shin
Won Corp.
|
|
67,000
|
|
73,967
|
|
*
|
|
Shin
Young Securities Co., Ltd.
|
|
26,040
|
|
829,362
|
|
|
|
Shin
Young Wacoal, Inc.
|
|
273
|
|
18,809
|
|
#
|
|
Shinhan
Engineering & Construction Co., Ltd.
|
|
18,180
|
|
234,472
|
|
*
|
|
Shinhan
Financial Group Co., Ltd.
|
|
81,216
|
|
2,009,282
|
|
#
|
|
Shinhan
Financial Group Co., Ltd. ADR
|
|
268,994
|
|
13,274,854
|
|
|
|
Shinpoong
Pharmaceutical Co., Ltd.
|
|
13,200
|
|
263,565
|
|
|
|
Shinsegae
Engineering & Construction Co., Ltd.
|
|
8,470
|
|
99,648
|
|
*
|
|
Shinsung
Engineering & Construction Co., Ltd.
|
|
39,449
|
|
10,608
|
|
#
|
|
Shinsung
Engineering Co., Ltd.
|
|
27,117
|
|
79,282
|
|
#
|
|
Shinsung
FA Co., Ltd.
|
|
27,117
|
|
70,646
|
|
#
|
|
Shinsung
Holdings Co., Ltd.
|
|
79,589
|
|
402,314
|
|
*
|
|
Shinsung
Tongsang Co., Ltd.
|
|
34,250
|
|
97,123
|
|
|
|
Silla
Trading Co., Ltd.
|
|
18,890
|
|
225,656
|
|
#
|
|
Sindo
Ricoh Co., Ltd.
|
|
32,751
|
|
1,455,076
|
|
#
|
|
SJM
Co., Ltd.
|
|
60,580
|
|
205,933
|
|
#
|
|
SK
Co., Ltd.
|
|
174,491
|
|
16,140,590
|
|
|
|
SK
Energy Co., Ltd.
|
|
230,735
|
|
18,089,202
|
|
#
|
|
SK
Gas Co., Ltd.
|
|
28,426
|
|
1,193,305
|
|
#
|
|
SKC
Co., Ltd.
|
|
143,710
|
|
2,574,016
|
|
*
|
|
SL
Corp.
|
|
33,210
|
|
93,845
|
|
*
|
|
Songwon
Industrial Co., Ltd.
|
|
45,480
|
|
396,024
|
|
*
|
|
Soosan
Heavy Industries Co., Ltd.
|
|
90,730
|
|
61,473
|
|
* #
|
|
Ssangyong
Cement Industry Co., Ltd.
|
|
193,556
|
|
1,445,075
|
|
|
|
Suheung
Capsule Co., Ltd.
|
|
52,170
|
|
305,405
|
|
32
|
|
Sung
Bo Chemicals Co., Ltd.
|
|
4,130
|
|
80,147
|
|
* #
|
|
Sung
Shin Cement Co., Ltd.
|
|
60,720
|
|
393,109
|
|
*
|
|
Sungchang
Enterprise Holdings, Ltd.
|
|
20,760
|
|
338,900
|
|
|
|
Sungjee
Construction Co., Ltd.
|
|
28,480
|
|
163,602
|
|
* #
|
|
Sungwon
Corp.
|
|
69,880
|
|
264,126
|
|
*
|
|
Sunjin
Co., Ltd.
|
|
7,650
|
|
133,626
|
|
* #
|
|
Sunkyong
Securities Co., Ltd.
|
|
384,280
|
|
842,970
|
|
#
|
|
Tae
Kwang Industrial Co., Ltd.
|
|
3,447
|
|
1,722,201
|
|
#
|
|
Tae
Kyung Industrial Co., Ltd.
|
|
92,200
|
|
386,520
|
|
|
|
Taegu
Department Store
|
|
52,221
|
|
429,312
|
|
#
|
|
Taeyoung
Engineering & Construction
|
|
242,600
|
|
1,379,755
|
|
#
|
|
Tai
Han Electric Wire Co., Ltd.
|
|
146,747
|
|
2,911,643
|
|
|
|
Tai
Lim Packaging Industries Co., Ltd.
|
|
134,200
|
|
98,677
|
|
*
|
|
Taihan
Textile Co., Ltd.
|
|
836
|
|
16,907
|
|
*
|
|
Tec &
Co.
|
|
56,847
|
|
122,184
|
|
|
|
Telcoware
Co., Ltd.
|
|
36,000
|
|
209,403
|
|
|
|
The
Will-Bes & Co., Ltd.
|
|
44,310
|
|
102,986
|
|
*
|
|
Tong
Kook Corp.
|
|
607
|
|
739
|
|
|
|
Tong
Yang Moolsan Co., Ltd.
|
|
12,890
|
|
71,602
|
|
*
|
|
Tong
Yang Securities, Inc.
|
|
300,000
|
|
2,438,370
|
|
*
|
|
TRYBRANDS, Inc.
|
|
30,151
|
|
80,035
|
|
|
|
TS
Corp.
|
|
11,001
|
|
453,727
|
|
#
|
|
Unid
Co., Ltd.
|
|
32,400
|
|
1,020,887
|
|
*
|
|
Unimo
Technology Co., Ltd.
|
|
17,000
|
|
9,952
|
|
|
|
Union
Steel Manufacturing Co., Ltd.
|
|
29,697
|
|
409,047
|
|
|
|
Wiscom
Co., Ltd.
|
|
32,980
|
|
104,821
|
|
*
|
|
Woongjin.Com
Co., Ltd.
|
|
119,830
|
|
1,188,055
|
|
#
|
|
Woori
Financial Co., Ltd.
|
|
53,950
|
|
222,690
|
|
*
|
|
Woori
Investment & Securities Co., Ltd.
|
|
451,010
|
|
6,311,926
|
|
|
|
WooSung
Feed Co., Ltd.
|
|
101,890
|
|
105,216
|
|
|
|
YESCO
Co., Ltd.
|
|
16,050
|
|
336,591
|
|
|
|
Yoosung
Enterprise Co., Ltd.
|
|
106,520
|
|
217,496
|
|
#
|
|
Youlchon
Chemical Co., Ltd.
|
|
82,970
|
|
478,582
|
|
*
|
|
Young
Poong Mining & Construction Corp.
|
|
18,030
|
|
773
|
|
|
|
Youngbo
Chemical Co., Ltd.
|
|
33,000
|
|
45,746
|
|
|
|
Youngone
Corp.
|
|
178,660
|
|
1,369,704
|
|
#
|
|
Youngpoong
Corp.
|
|
4,289
|
|
1,573,721
|
|
*
|
|
Yuhwa
Securities Co., Ltd.
|
|
28,680
|
|
322,709
|
|
* #
|
|
Yuyang
Telecom Co., Ltd.
|
|
11,200
|
|
73,865
|
|
*
|
|
Zinus, Inc.
|
|
1,866
|
|
5,454
|
|
TOTAL
COMMON STOCKS
|
|
|
|
626,438,105
|
|
|
|
|
|
|
|
RIGHTS/WARRANTS
(0.0%)
|
|
|
|
|
|
*
|
|
Dongyang
Engineering & Construction Corp. Rights 05/29/09
|
|
2,111
|
|
12,258
|
|
|
|
|
|
|
|
TOTAL
SOUTH KOREA
|
|
|
|
626,450,363
|
|
|
|
|
|
|
|
TAIWAN
(11.9%)
|
|
|
|
|
|
COMMON
STOCKS (11.9%)
|
|
|
|
|
|
*
|
|
A.G.V.
Products Corp.
|
|
2,790,429
|
|
793,154
|
|
|
|
Abocom
Systems, Inc.
|
|
340,752
|
|
78,660
|
|
33
|
|
Acbel
Polytech, Inc.
|
|
2,851,960
|
|
1,741,989
|
|
*
|
|
Accton
Technology Corp.
|
|
3,633,000
|
|
1,134,399
|
|
|
|
Acer, Inc.
|
|
794,783
|
|
1,519,043
|
|
#
|
|
Advanced
Semiconductor Engineering, Inc. ADR
|
|
155,986
|
|
472,638
|
|
|
|
Allis
Electric Co., Ltd.
|
|
749,320
|
|
137,416
|
|
|
|
Ampoc
Far East Co., Ltd.
|
|
749,016
|
|
197,706
|
|
|
|
Amtran
Technology Co., Ltd.
|
|
2,115,173
|
|
955,386
|
|
*
|
|
Apex
Science & Engineering Corp.
|
|
496,000
|
|
142,261
|
|
*
|
|
Arima
Computer Corp.
|
|
3,904,781
|
|
517,200
|
|
|
|
Asia
Cement Corp.
|
|
11,165,366
|
|
11,496,403
|
|
|
|
Asia
Chemical Corp.
|
|
1,756,000
|
|
648,969
|
|
|
|
Asia
Polymer Corp.
|
|
1,576,489
|
|
809,767
|
|
|
|
Asia
Vital Components Co., Ltd.
|
|
1,520,655
|
|
846,852
|
|
|
|
AU
Optronics Corp.
|
|
3,974,575
|
|
4,228,490
|
|
#
|
|
AU
Optronics Corp. Sponsored ADR
|
|
3,869,083
|
|
41,979,551
|
|
|
|
Audix
Co., Ltd.
|
|
823,164
|
|
381,650
|
|
|
|
Aurora
Corp.
|
|
568,676
|
|
525,755
|
|
|
|
Aurora
Systems Corp.
|
|
281,281
|
|
165,830
|
|
|
|
Avision, Inc.
|
|
1,360,555
|
|
404,097
|
|
|
|
Bank
of Kaohsiung Co., Ltd.
|
|
3,673,926
|
|
903,863
|
|
*
|
|
Behavior
Tech Computer Corp.
|
|
884,716
|
|
59,145
|
|
|
|
Bes
Engineering Corp.
|
|
9,541,443
|
|
2,329,258
|
|
|
|
Biostar
Microtech International Corp.
|
|
476,595
|
|
196,260
|
|
|
|
C
Sun Manufacturing, Ltd.
|
|
219,249
|
|
69,327
|
|
*
|
|
Carnival
Industrial Corp.
|
|
2,482,000
|
|
402,619
|
|
|
|
Cathay
Chemical Works, Inc.
|
|
857,000
|
|
228,481
|
|
|
|
Cathay
Real Estate Development Co., Ltd.
|
|
8,230,421
|
|
2,508,613
|
|
|
|
Central
Reinsurance Co., Ltd.
|
|
2,457,781
|
|
764,295
|
|
|
|
Chain
Qui Development Co., Ltd.
|
|
272,173
|
|
141,132
|
|
|
|
Champion
Building Materials Co., Ltd.
|
|
2,086,914
|
|
652,905
|
|
|
|
Chang
Hwa Commercial Bank
|
|
36,121,459
|
|
14,549,299
|
|
*
|
|
Chang-Ho
Fibre Corp.
|
|
192,000
|
|
65,016
|
|
|
|
Charoen
Pokphand Enterprises Co., Ltd.
|
|
1,223,000
|
|
599,140
|
|
|
|
Cheng
Loong Corp.
|
|
7,053,480
|
|
1,731,354
|
|
|
|
Chenming
Mold Industrial Corp.
|
|
798,040
|
|
227,960
|
|
|
|
Chi
Mei Optoelectronic Corp.
|
|
30,325,932
|
|
15,084,375
|
|
*
|
|
Chia
Her Industrial Co., Ltd.
|
|
1,358,004
|
|
77,041
|
|
*
|
|
Chia
Hsin Cement Corp.
|
|
4,145,594
|
|
2,092,658
|
|
*
|
|
Chia
Hsin Food & Synthetic Fiber Co., Ltd.
|
|
514,966
|
|
59,634
|
|
*
|
|
Chien
Shing Stainless Steel Co., Ltd.
|
|
2,280,000
|
|
353,336
|
|
*
|
|
Chien
Tai Cement Co., Ltd.
|
|
238
|
|
9
|
|
|
|
Chilisin
Electronics Corp.
|
|
168,300
|
|
53,480
|
|
*
|
|
China
Airlines
|
|
15,861,952
|
|
4,314,326
|
|
|
|
China
Chemical & Pharmaceutical Co.
|
|
1,877,264
|
|
1,224,259
|
|
|
|
China
Development Financial Holding Corp.
|
|
80,236,032
|
|
20,461,182
|
|
|
|
China
Electric Manufacturing Co., Ltd.
|
|
2,450,200
|
|
975,826
|
|
*
|
|
China
General Plastics Corp.
|
|
2,402,000
|
|
775,882
|
|
|
|
China
Glaze Co., Ltd.
|
|
889,084
|
|
215,580
|
|
|
|
China
Man-Made Fiber Co., Ltd.
|
|
8,736,813
|
|
1,481,716
|
|
|
|
China
Metal Products Co., Ltd.
|
|
470,000
|
|
373,367
|
|
|
|
China
Motor Co., Ltd.
|
|
5,676,749
|
|
2,410,721
|
|
*
|
|
China
Petrochemical Development Corp.
|
|
13,242,580
|
|
3,059,269
|
|
34
*
|
|
China
Rebar Co., Ltd.
|
|
439,188
|
|
60,022
|
|
|
|
China
Steel Structure Co., Ltd.
|
|
498,219
|
|
270,033
|
|
|
|
China
Synthetic Rubber Corp.
|
|
2,189,890
|
|
2,165,312
|
|
*
|
|
China
United Trust & Investment Corp.
|
|
493,999
|
|
|
|
*
|
|
China
Wire & Cable Co., Ltd.
|
|
1,362,000
|
|
239,330
|
|
|
|
Chinatrust
Financial Holdings Co., Ltd.
|
|
37,442,937
|
|
17,114,337
|
|
|
|
Ching
Feng Home Fashions Industries Co., Ltd.
|
|
998,900
|
|
205,964
|
|
|
|
Chin-Poon
Industrial Co., Ltd.
|
|
2,197,451
|
|
973,941
|
|
|
|
Chun
Yu Works & Co., Ltd.
|
|
1,800,000
|
|
649,941
|
|
|
|
Chun
Yuan Steel Industrial Co., Ltd.
|
|
3,469,467
|
|
1,118,480
|
|
|
|
Chung
Hsin Electric & Machinery Co., Ltd.
|
|
1,362,000
|
|
685,041
|
|
|
|
Chung
Hwa Pulp Corp.
|
|
3,513,419
|
|
1,087,219
|
|
*
|
|
Chung
Shing Textile Co., Ltd.
|
|
600
|
|
9
|
|
|
|
Chungwa
Picture Tubes Co., Ltd.
|
|
51,320,045
|
|
8,549,892
|
|
|
|
Clevo
Co.
|
|
2,567,280
|
|
2,940,441
|
|
*
|
|
CMC
Magnetics Corp.
|
|
24,065,000
|
|
5,108,928
|
|
|
|
Collins
Co., Ltd.
|
|
1,769,823
|
|
431,424
|
|
|
|
Compal
Electronics, Inc.
|
|
2,289,623
|
|
1,941,688
|
|
|
|
Compeq
Manufacturing Co., Ltd.
|
|
7,890,000
|
|
2,018,706
|
|
*
|
|
Compex
International Co., Ltd.
|
|
46,400
|
|
281
|
|
|
|
Continental
Engineering Corp.
|
|
5,097,848
|
|
1,558,433
|
|
*
|
|
Cosmos
Bank Taiwan
|
|
2,048,199
|
|
169,119
|
|
|
|
CTCI
Corp.
|
|
2,583,939
|
|
1,907,635
|
|
|
|
CX
Technology Co., Ltd.
|
|
82,728
|
|
27,717
|
|
|
|
Cyntec
Co., Ltd.
|
|
27,319
|
|
39,724
|
|
|
|
Da-Cin
Construction Co., Ltd.
|
|
1,684,579
|
|
798,435
|
|
*
|
|
Delpha
Construction Co., Ltd.
|
|
1,684,044
|
|
276,152
|
|
*
|
|
Der
Pao Construction Co., Ltd.
|
|
1,139,000
|
|
28,240
|
|
|
|
Diamond
Flower Electric Instrument Co., Ltd.
|
|
68,595
|
|
83,445
|
|
|
|
E.Sun
Financial Holding Co., Ltd.
|
|
15,243,280
|
|
4,098,339
|
|
|
|
Eastern
Media International Corp.
|
|
8,183,399
|
|
1,403,059
|
|
|
|
Eclat
Textile Co., Ltd.
|
|
310,867
|
|
143,027
|
|
|
|
Edom
Technology Co., Ltd.
|
|
888,800
|
|
242,623
|
|
|
|
Elan
Microelectronics Corp.
|
|
1,495,361
|
|
1,485,477
|
|
|
|
Elite
Material Co., Ltd.
|
|
1,263,079
|
|
527,902
|
|
|
|
Elite
Semiconductor Memory Technology, Inc.
|
|
793,109
|
|
759,943
|
|
|
|
Elitegroup
Computer Systems Co., Ltd.
|
|
6,985,066
|
|
2,263,864
|
|
|
|
Enlight
Corp.
|
|
1,184,549
|
|
31,977
|
|
*
|
|
EnTie
Commercial Bank
|
|
693,232
|
|
186,840
|
|
*
|
|
Eva
Airways Corp.
|
|
16,403,783
|
|
4,630,612
|
|
*
|
|
Ever
Fortune Industrial Co., Ltd.
|
|
409,000
|
|
4,081
|
|
|
|
Everest
Textile Co., Ltd.
|
|
3,357,002
|
|
609,886
|
|
|
|
Evergreen
International Storage & Transport Corp.
|
|
3,116,000
|
|
2,110,524
|
|
|
|
Evergreen
Marine Corp., Ltd.
|
|
9,208,527
|
|
4,589,733
|
|
|
|
Everlight
Chemical Industrial Corp.
|
|
2,147,950
|
|
702,061
|
|
*
|
|
Everspring
Industry Co., Ltd.
|
|
1,293,180
|
|
225,237
|
|
*
|
|
Evertop
Wire Cable Corp.
|
|
829,890
|
|
130,777
|
|
|
|
Excel
Cell Electronics Co., Ltd.
|
|
565,000
|
|
174,848
|
|
|
|
Far
Eastern Department Stores, Ltd.
|
|
4,970,936
|
|
3,100,596
|
|
*
|
|
Far
Eastern International Bank
|
|
11,541,236
|
|
2,274,115
|
|
|
|
Federal
Corp.
|
|
3,092,876
|
|
1,148,045
|
|
|
|
Feng
Hsin Iron & Steel Co., Ltd.
|
|
342,990
|
|
420,868
|
|
35
*
|
|
FIC
Global, Inc.
|
|
122,255
|
|
16,535
|
|
|
|
First
Copper Technology Co., Ltd.
|
|
2,383,750
|
|
522,551
|
|
|
|
First
Financial Holding Co., Ltd.
|
|
18,098,108
|
|
9,559,379
|
|
|
|
First
Hotel
|
|
544,854
|
|
423,361
|
|
|
|
First
Steamship Co., Ltd.
|
|
728,000
|
|
918,882
|
|
|
|
Formosa
Chemicals & Fiber Co., Ltd.
|
|
3,222,000
|
|
5,120,421
|
|
|
|
Formosa
Taffeta Co., Ltd.
|
|
7,495,511
|
|
4,817,330
|
|
|
|
Formosan
Rubber Group, Inc.
|
|
4,667,000
|
|
2,212,907
|
|
*
|
|
Formosan
Union Chemical Corp.
|
|
238,174
|
|
81,163
|
|
|
|
Fortune
Electric Co., Ltd.
|
|
794,850
|
|
877,436
|
|
*
|
|
Fu
I Industrial Co., Ltd.
|
|
290,400
|
|
63,326
|
|
|
|
Fubon
Financial Holding Co., Ltd.
|
|
30,440,000
|
|
23,594,633
|
|
|
|
Fwuson
Industry Co., Ltd.
|
|
1,518,220
|
|
389,752
|
|
|
|
G.T.M.
Corp.
|
|
543,000
|
|
182,154
|
|
*
|
|
Giga
Storage Corp.
|
|
2,039,898
|
|
340,949
|
|
|
|
Giga-Byte
Technology Co., Ltd.
|
|
5,303,287
|
|
3,690,883
|
|
|
|
Gold
Circuit Electronics, Ltd.
|
|
2,574,549
|
|
812,427
|
|
|
|
Goldsun
Development & Construction Co., Ltd.
|
|
8,392,689
|
|
3,262,579
|
|
|
|
Good
Will Instrument Co., Ltd.
|
|
383,670
|
|
178,520
|
|
|
|
Gordon
Auto Body Parts Co., Ltd.
|
|
1,050,352
|
|
332,320
|
|
*
|
|
Grand
Pacific Petrochemical Corp.
|
|
3,861,000
|
|
1,011,436
|
|
|
|
Grape
King, Inc.
|
|
516,000
|
|
354,824
|
|
|
|
Great
China Metal Industry Co., Ltd.
|
|
1,577,000
|
|
839,056
|
|
|
|
Great
Wall Enterprise Co., Ltd.
|
|
1,721,327
|
|
1,789,090
|
|
|
|
Hanpin
Co., Ltd.
|
|
1,008,000
|
|
404,682
|
|
*
|
|
Helix
Technology, Inc.
|
|
29,585
|
|
|
|
|
|
Hey
Song Corp.
|
|
3,250,000
|
|
1,299,034
|
|
*
|
|
Hitron
Technologies, Inc.
|
|
514,000
|
|
165,920
|
|
*
|
|
Ho
Tung Holding Corp.
|
|
3,868,628
|
|
1,130,338
|
|
*
|
|
Hocheng
Corp.
|
|
2,499,300
|
|
582,888
|
|
*
|
|
Hold-Key
Electric Wire & Cable Co., Ltd.
|
|
1,338,420
|
|
458,110
|
|
|
|
Hong
Ho Precision Textile Co., Ltd.
|
|
58,136
|
|
12,454
|
|
|
|
Hong
Tai Electric Industrial Co., Ltd.
|
|
1,613,000
|
|
482,110
|
|
|
|
Hong
Yi Fiber Industry Co., Ltd.
|
|
573,000
|
|
105,715
|
|
|
|
Hsin
Kuang Steel Co., Ltd.
|
|
1,568,465
|
|
817,389
|
|
|
|
Hsing
Ta Cement Co., Ltd.
|
|
1,969,980
|
|
566,053
|
|
|
|
Hua
Eng Wire & Cable Co., Ltd.
|
|
4,069,035
|
|
769,816
|
|
|
|
Hua
Nan Financial Holding Co., Ltd.
|
|
3,161,416
|
|
1,792,608
|
|
*
|
|
Hualon
Corp.
|
|
257,040
|
|
8,394
|
|
|
|
Hung
Ching Development & Construction Co., Ltd.
|
|
1,828,468
|
|
361,396
|
|
|
|
Hung
Poo Construction Corp.
|
|
1,392,436
|
|
1,289,548
|
|
|
|
Hung
Sheng Construction Co., Ltd.
|
|
3,463,000
|
|
1,085,365
|
|
*
|
|
Hwa
Fong Rubber Co., Ltd.
|
|
408,960
|
|
126,214
|
|
|
|
Ichia
Technologies, Inc.
|
|
1,992,260
|
|
787,961
|
|
*
|
|
Inernational
Semiconductor Technology, Ltd.
|
|
10,000
|
|
2,157
|
|
|
|
Innolux
Display Corp.
|
|
5,700,000
|
|
6,285,896
|
|
|
|
Inventec
Corp.
|
|
13,588,781
|
|
6,797,926
|
|
*
|
|
Jean
Co., Ltd.
|
|
118,864
|
|
26,892
|
|
|
|
Jui
Li Enterprise Co., Ltd.
|
|
712,760
|
|
174,367
|
|
|
|
Jung
Shing Wire Co., Ltd.
|
|
127,936
|
|
24,192
|
|
|
|
K
Laser Technology, Inc.
|
|
735,601
|
|
309,984
|
|
|
|
Kang
Na Hsiung Co., Ltd.
|
|
1,395,127
|
|
812,401
|
|
36
*
|
|
Kao
Hsing Chang Iron & Steel Corp.
|
|
2,196,000
|
|
368,975
|
|
|
|
Kaulin
Manufacturing Co., Ltd.
|
|
926,656
|
|
401,904
|
|
|
|
Kee
Tai Properties Co., Ltd.
|
|
1,657,368
|
|
558,935
|
|
*
|
|
Kenda
Rubber Industrial Co., Ltd.
|
|
2,008,642
|
|
1,692,133
|
|
|
|
King
Yuan Electronics Co., Ltd.
|
|
10,137,518
|
|
3,037,218
|
|
|
|
Kingdom
Construction Co., Ltd.
|
|
3,124,000
|
|
1,138,904
|
|
*
|
|
Kings
Town Bank
|
|
5,194,012
|
|
1,142,459
|
|
|
|
Kinpo
Electronics, Inc.
|
|
9,690,375
|
|
2,428,242
|
|
|
|
Knowledge-Yield-Excellence
Systems Corp.
|
|
432,416
|
|
340,380
|
|
|
|
Kung
Long Batteries Industrial Co., Ltd.
|
|
173,000
|
|
93,552
|
|
|
|
Kuoyang
Construction Co., Ltd.
|
|
641,029
|
|
207,035
|
|
*
|
|
Kwong
Fong Industries Corp.
|
|
3,801,000
|
|
586,401
|
|
|
|
Lan
Fa Textile Co., Ltd.
|
|
2,409,703
|
|
464,430
|
|
*
|
|
Lead
Data Co., Ltd.
|
|
2,539,140
|
|
328,116
|
|
*
|
|
Leadtek
Research, Inc.
|
|
727,844
|
|
131,557
|
|
*
|
|
Lealea
Enterprise Co., Ltd.
|
|
4,662,000
|
|
651,581
|
|
|
|
Lee
Chang Yung Chemical Industry Corp.
|
|
2,145,780
|
|
1,863,544
|
|
|
|
Lee
Chi Enterprises Co., Ltd.
|
|
845,900
|
|
274,876
|
|
|
|
Lelon
Co., Ltd.
|
|
919,118
|
|
216,399
|
|
*
|
|
Leofoo
Development Co., Ltd.
|
|
1,777,000
|
|
919,173
|
|
|
|
Les
Enphants Co., Ltd.
|
|
167,204
|
|
104,317
|
|
*
|
|
Li
Peng Enterprise Co., Ltd.
|
|
3,988,712
|
|
530,803
|
|
|
|
Lian
Hwa Foods Corp.
|
|
157,000
|
|
55,117
|
|
*
|
|
Lien
Chang Electronic Enterprise Co., Ltd.
|
|
623,000
|
|
224,162
|
|
|
|
Lien
Hwa Industrial Corp.
|
|
4,149,411
|
|
1,772,860
|
|
|
|
Lingsen
Precision Industries, Ltd.
|
|
2,254,295
|
|
629,075
|
|
|
|
Lite-On
Technology Corp.
|
|
5,412,209
|
|
4,331,380
|
|
|
|
Long
Bon Development Co., Ltd.
|
|
2,839,301
|
|
632,491
|
|
*
|
|
Long
Chen Paper Co., Ltd.
|
|
3,677,741
|
|
795,285
|
|
|
|
Lucky
Cement Corp.
|
|
2,683,000
|
|
569,042
|
|
|
|
Macronix
International Co., Ltd.
|
|
26,111,644
|
|
10,869,951
|
|
|
|
Mayer
Steel Pipe Corp.
|
|
788,740
|
|
351,000
|
|
|
|
Maywufa
Co., Ltd.
|
|
192,264
|
|
106,645
|
|
|
|
Mega
Financial Holding Co., Ltd.
|
|
69,737,000
|
|
28,188,790
|
|
*
|
|
Megamedia
Corp.
|
|
782
|
|
5
|
|
|
|
Meiloon
Co., Ltd.
|
|
579,352
|
|
157,654
|
|
|
|
Mercuries &
Associates, Ltd.
|
|
3,533,829
|
|
1,342,218
|
|
*
|
|
Mercuries
Data Co., Ltd.
|
|
1,131,800
|
|
233,793
|
|
|
|
Merida
Industry Co., Ltd.
|
|
447,260
|
|
636,982
|
|
|
|
Microelectronics
Technology, Inc.
|
|
1,938,000
|
|
873,254
|
|
|
|
Micro-Star
International Co., Ltd.
|
|
6,657,448
|
|
4,082,533
|
|
*
|
|
Microtek
International, Inc.
|
|
819,062
|
|
96,297
|
|
|
|
Mitac
International Corp.
|
|
2,281,000
|
|
1,054,266
|
|
|
|
Mitac
Technology Corp.
|
|
1,501,065
|
|
800,337
|
|
|
|
Mobiletron
Electronics Co., Ltd.
|
|
90,000
|
|
42,099
|
|
|
|
Mospec
Seminconductor Corp.
|
|
404,000
|
|
168,487
|
|
*
|
|
Mustek
Systems, Inc.
|
|
1,191,983
|
|
66,714
|
|
*
|
|
Namchow
Chemical Industrial Co., Ltd.
|
|
1,122,057
|
|
225,493
|
|
|
|
Nankang
Rubber Tire Co., Ltd.
|
|
278,941
|
|
203,792
|
|
|
|
Nantex
Industry Co., Ltd.
|
|
1,459,474
|
|
1,091,828
|
|
*
|
|
Nanya
Technology Co., Ltd.
|
|
20,440,706
|
|
4,585,302
|
|
*
|
|
New
Asia Construction & Development Co., Ltd.
|
|
1,011,542
|
|
199,307
|
|
37
|
|
Nien
Hsing Textile Co., Ltd.
|
|
3,910,000
|
|
1,395,011
|
|
*
|
|
Ocean
Plastics Co., Ltd.
|
|
1,135,776
|
|
476,359
|
|
*
|
|
Optimax
Technology Corp.
|
|
3,466,000
|
|
166,446
|
|
|
|
Opto
Tech Corp.
|
|
885,609
|
|
477,297
|
|
*
|
|
Orient
Semiconductor Electronics, Ltd.
|
|
372,276
|
|
54,099
|
|
|
|
Oriental
Union Chemical Corp.
|
|
3,567,225
|
|
1,912,008
|
|
*
|
|
Pacific
Construction Co., Ltd.
|
|
4,079,256
|
|
333,532
|
|
|
|
Pan
Jit International, Inc.
|
|
1,982,818
|
|
973,393
|
|
|
|
Phihong
Technology Co., Ltd.
|
|
2,226,661
|
|
759,145
|
|
|
|
Phoenix
Precision Technology Corp.
|
|
1,820,000
|
|
598,707
|
|
*
|
|
Picvue
Electronics, Ltd.
|
|
241,600
|
|
|
|
*
|
|
Potrans
Electrical Corp.
|
|
1,139,000
|
|
150,152
|
|
|
|
Prince
Housing & Development Corp.
|
|
4,151,737
|
|
1,124,717
|
|
*
|
|
Procomp
Informatics, Ltd.
|
|
391,440
|
|
|
|
*
|
|
Prodisc
Technology, Inc.
|
|
6,185,157
|
|
278,649
|
|
*
|
|
Promise
Technology, Inc.
|
|
654,685
|
|
312,666
|
|
|
|
Qisda
Corp.
|
|
8,957,952
|
|
3,164,619
|
|
*
|
|
Quintain
Steel Co., Ltd.
|
|
3,247,000
|
|
619,343
|
|
|
|
Radium
Life Tech Corp.
|
|
1,491,144
|
|
654,278
|
|
|
|
Ralec
Electronic Corp.
|
|
286,018
|
|
195,869
|
|
|
|
Realtek
Semiconductor Corp.
|
|
805,290
|
|
1,302,352
|
|
*
|
|
Rectron,
Ltd.
|
|
452,836
|
|
50,765
|
|
|
|
Reward
Wool Industry Corp.
|
|
965,000
|
|
148,797
|
|
*
|
|
Rexon
Industrial Corp., Ltd.
|
|
1,026,820
|
|
151,787
|
|
*
|
|
Ritek
Corp.
|
|
20,663,518
|
|
4,349,514
|
|
|
|
Ruentex
Development Co., Ltd.
|
|
2,897,000
|
|
2,041,677
|
|
|
|
Ruentex
Industries, Ltd.
|
|
2,485,000
|
|
2,069,500
|
|
*
|
|
Sainfoin
Technology Corp.
|
|
835,498
|
|
|
|
*
|
|
Sampo
Corp.
|
|
5,938,684
|
|
1,159,628
|
|
|
|
San
Fang Chemical Industry Co., Ltd.
|
|
217,644
|
|
159,508
|
|
|
|
Sanyang
Industrial Co., Ltd.
|
|
5,526,268
|
|
1,596,904
|
|
|
|
Sanyo
Electric Co., Ltd.
|
|
971,000
|
|
729,490
|
|
|
|
Senao
International Co., Ltd.
|
|
150,944
|
|
189,228
|
|
|
|
Shan-Loong
Transportation Co., Ltd.
|
|
133,286
|
|
52,786
|
|
|
|
Sheng
Yu Steel Co., Ltd.
|
|
1,716,000
|
|
1,182,426
|
|
|
|
Shihlin
Electric & Engineering Corp.
|
|
1,743,000
|
|
1,741,977
|
|
|
|
Shin
Kong Financial Holding Co., Ltd.
|
|
14,428,507
|
|
4,658,780
|
|
|
|
Shinkong
Co., Ltd.
|
|
2,182,412
|
|
745,058
|
|
|
|
Shinkong
Synthetic Fibers Co., Ltd.
|
|
9,238,342
|
|
1,739,999
|
|
|
|
Shuttle, Inc.
|
|
1,190,223
|
|
396,828
|
|
|
|
Sigurd
Microelectronics Corp.
|
|
487,608
|
|
149,325
|
|
*
|
|
Silicon
Integrated Systems Corp.
|
|
10,223,485
|
|
2,870,311
|
|
|
|
Siliconware
Precision Industries Co., Ltd. Sponsored ADR
|
|
505
|
|
3,772
|
|
|
|
Sincere
Navigation Corp.
|
|
538,692
|
|
508,015
|
|
|
|
Sinkang
Industries Co., Ltd.
|
|
806,669
|
|
260,964
|
|
|
|
Sinkong
Spinning Co., Ltd.
|
|
1,246,311
|
|
720,309
|
|
|
|
Sinon
Corp.
|
|
2,114,700
|
|
950,737
|
|
|
|
SinoPac
Holdings Co., Ltd.
|
|
60,339,809
|
|
15,836,850
|
|
*
|
|
Sintek
Photronics Corp.
|
|
3,861,120
|
|
1,408,698
|
|
|
|
Siward
Crystal Technology Co., Ltd.
|
|
889,405
|
|
314,515
|
|
|
|
Solomon
Technology Corp.
|
|
1,153,847
|
|
303,926
|
|
|
|
South
East Soda Manufacturing Co., Ltd.
|
|
927,500
|
|
794,992
|
|
38
|
|
Southeast
Cement Co., Ltd.
|
|
3,208,700
|
|
868,395
|
|
|
|
Space
Shuttle Hi-Tech Co., Ltd.
|
|
549,269
|
|
106,300
|
|
|
|
SPI
Electronic Co., Ltd.
|
|
100,000
|
|
78,700
|
|
|
|
Spirox
Corp.
|
|
282,367
|
|
111,680
|
|
|
|
Standard
Chemical & Pharmaceutical Co., Ltd.
|
|
577,000
|
|
497,964
|
|
|
|
Standard
Foods Taiwan, Ltd.
|
|
1,850,000
|
|
1,743,919
|
|
|
|
Stark
Technology, Inc.
|
|
775,200
|
|
389,441
|
|
|
|
Sunonwealth
Electric Machine Industry Co., Ltd.
|
|
1,594,987
|
|
939,371
|
|
|
|
Sunplus
Technology Co., Ltd.
|
|
2,515,620
|
|
1,256,393
|
|
|
|
Synnex
Technology International Corp.
|
|
1,687,339
|
|
2,448,089
|
|
*
|
|
Syscom
Computer Engineering Co.
|
|
446,000
|
|
118,710
|
|
|
|
Sysware
Systex Corp.
|
|
828,801
|
|
515,154
|
|
*
|
|
T
JOIN Transportation Co., Ltd.
|
|
3,278,000
|
|
1,615,324
|
|
|
|
Ta
Chen Stainless Pipe Co., Ltd.
|
|
1,498,864
|
|
788,886
|
|
*
|
|
Ta
Chong Bank, Ltd.
|
|
12,806,906
|
|
1,888,900
|
|
|
|
Ta
Ya Electric Wire & Cable Co., Ltd.
|
|
4,255,732
|
|
780,028
|
|
|
|
Ta
Yih Industrial Co., Ltd.
|
|
192,000
|
|
95,034
|
|
|
|
Tah
Hsin Industrial Corp.
|
|
1,452,000
|
|
840,698
|
|
*
|
|
Tai
Roun Products Co., Ltd.
|
|
379,000
|
|
71,212
|
|
|
|
Ta-I
Technology Co., Ltd.
|
|
1,279,034
|
|
655,447
|
|
|
|
Taichung
Commercial Bank
|
|
7,966,754
|
|
1,818,080
|
|
|
|
Tainan
Spinning Co., Ltd.
|
|
9,741,000
|
|
2,333,865
|
|
|
|
Taishin
Financial Holdings Co., Ltd.
|
|
46,043,000
|
|
10,379,718
|
|
*
|
|
Taisun
Enterprise Co., Ltd.
|
|
1,931,721
|
|
537,570
|
|
|
|
Taita
Chemical Co., Ltd.
|
|
1,775,400
|
|
402,040
|
|
*
|
|
Taiwan
Business Bank
|
|
28,343,549
|
|
6,403,827
|
|
|
|
Taiwan
Cement Corp.
|
|
12,306,807
|
|
11,757,779
|
|
|
|
Taiwan
Cooperative Bank
|
|
29,226,902
|
|
15,806,125
|
|
|
|
Taiwan
Fire & Marine Insurance Co., Ltd.
|
|
1,864,320
|
|
915,837
|
|
*
|
|
Taiwan
Flourescent Lamp Co., Ltd.
|
|
756,000
|
|
68,117
|
|
|
|
Taiwan
Fu Hsing Industrial Co., Ltd.
|
|
115,000
|
|
60,702
|
|
|
|
Taiwan
Glass Industrial Corp.
|
|
5,867,741
|
|
4,182,370
|
|
|
|
Taiwan
Hon Chuan Enterprise Co., Ltd.
|
|
1,238,052
|
|
1,804,980
|
|
|
|
Taiwan
Kai Yih Industrial Co., Ltd.
|
|
670,660
|
|
402,429
|
|
*
|
|
Taiwan
Kolin Co., Ltd.
|
|
5,797,000
|
|
122,693
|
|
|
|
Taiwan
Line Tek Electronic Co., Ltd.
|
|
448,259
|
|
319,477
|
|
|
|
Taiwan
Mask Corp.
|
|
2,194,000
|
|
777,696
|
|
|
|
Taiwan
Navigation Co., Ltd.
|
|
684,898
|
|
1,114,866
|
|
*
|
|
Taiwan
Pulp & Paper Corp.
|
|
2,218,000
|
|
610,007
|
|
|
|
Taiwan
Sakura Corp.
|
|
1,628,490
|
|
619,036
|
|
|
|
Taiwan
Sogo Shinkong Security Co., Ltd.
|
|
616,205
|
|
317,457
|
|
|
|
Taiwan
Styrene Monomer Corp.
|
|
4,013,856
|
|
1,543,072
|
|
*
|
|
Taiwan
Tea Corp.
|
|
2,988,381
|
|
1,272,340
|
|
|
|
Taiyen
Biotech Co., Ltd.
|
|
1,776,000
|
|
839,935
|
|
*
|
|
Tatung
Co., Ltd.
|
|
23,096,000
|
|
6,162,593
|
|
*
|
|
Teapo
Electronic Corp.
|
|
2,496,670
|
|
288,708
|
|
|
|
Teco
Electric & Machinery Co., Ltd.
|
|
15,351,834
|
|
6,072,909
|
|
*
|
|
Tecom,
Ltd.
|
|
1,440,753
|
|
589,986
|
|
|
|
Test-Rite
International Co., Ltd.
|
|
1,529,391
|
|
769,179
|
|
|
|
Tex-Ray
Industrial Co., Ltd.
|
|
724,000
|
|
121,297
|
|
|
|
The
Ambassador Hotel
|
|
996,000
|
|
1,132,801
|
|
|
|
The
First Insurance Co., Ltd.
|
|
2,009,064
|
|
649,622
|
|
39
|
|
Thye
Ming Industrial Co., Ltd.
|
|
171,727
|
|
127,794
|
|
|
|
Ton
Yi Industrial Corp.
|
|
7,349,810
|
|
2,769,212
|
|
|
|
Tong
Yang Industry Co., Ltd.
|
|
850,739
|
|
746,021
|
|
*
|
|
Tong-Hwa
Synthetic Fiber Co., Ltd.
|
|
317,000
|
|
30,041
|
|
|
|
Tsann
Kuen Enterprise Co., Ltd.
|
|
1,348,100
|
|
1,005,660
|
|
|
|
TSRC
Corp.
|
|
1,874,400
|
|
2,146,086
|
|
*
|
|
Tung
Ho Spinning, Weaving & Dyeing Co., Ltd.
|
|
599,000
|
|
54,192
|
|
|
|
Tung
Ho Steel Enterprise Corp.
|
|
2,688,555
|
|
2,315,605
|
|
*
|
|
Twinhead
International Corp.
|
|
1,446,017
|
|
141,836
|
|
|
|
TYC
Brother Industrial Co., Ltd.
|
|
1,183,561
|
|
755,295
|
|
*
|
|
Tycoons
Group Enterprise Co., Ltd.
|
|
2,840,000
|
|
463,057
|
|
|
|
Tze
Shin International Co., Ltd.
|
|
934,919
|
|
385,019
|
|
*
|
|
Union
Bank of Taiwan
|
|
9,266,577
|
|
1,728,039
|
|
*
|
|
Union
Insurance Co., Ltd.
|
|
189,469
|
|
155,294
|
|
|
|
Unitech
Electronics Co., Ltd.
|
|
1,280,174
|
|
550,915
|
|
|
|
Unitech
Printed Circuit Board Corp.
|
|
2,466,265
|
|
875,043
|
|
|
|
United
Integration Service Co., Ltd.
|
|
986,000
|
|
427,911
|
|
|
|
United
Microelectronics Corp.
|
|
106,490,069
|
|
40,221,565
|
|
|
|
Unity
Opto Technology Co., Ltd.
|
|
571,125
|
|
379,716
|
|
*
|
|
Universal
Cement Corp.
|
|
3,644,551
|
|
1,502,363
|
|
|
|
Universal
Microelectronics Co., Ltd.
|
|
747,491
|
|
248,973
|
|
|
|
Universal
Scientific Industrial Co., Ltd.
|
|
6,522,366
|
|
2,086,002
|
|
|
|
Universal, Inc.
|
|
622,000
|
|
285,643
|
|
|
|
UPC
Technology Corp.
|
|
4,912,437
|
|
1,742,770
|
|
|
|
USI
Corp.
|
|
4,528,000
|
|
1,662,720
|
|
|
|
U-TECH
Media Corp.
|
|
1,566,799
|
|
360,325
|
|
*
|
|
Ve
Wong Corp.
|
|
1,112,000
|
|
608,764
|
|
*
|
|
Visual
Photonics Epitacy Co., Ltd.
|
|
94,710
|
|
59,090
|
|
|
|
Walsin
Lihwa Corp.
|
|
23,007,412
|
|
5,909,441
|
|
|
|
Walsin
Technology Corp., Ltd.
|
|
4,027,876
|
|
1,253,733
|
|
|
|
Wan
Hwa Enterprise Co., Ltd.
|
|
1,229,400
|
|
467,042
|
|
|
|
Waterland
Financial Holdings
|
|
12,821,080
|
|
3,101,694
|
|
*
|
|
Wei
Chih Steel Industrial Co., Ltd.
|
|
1,615,898
|
|
302,240
|
|
*
|
|
Wei
Chuan Food Corp.
|
|
1,007,000
|
|
820,854
|
|
|
|
Weltrend
Semiconductor, Inc.
|
|
978,994
|
|
531,307
|
|
*
|
|
Winbond
Electronics Corp.
|
|
29,524,000
|
|
5,309,835
|
|
|
|
Wintek
Corp.
|
|
7,268,000
|
|
3,341,874
|
|
|
|
WPG
Holdings Co., Ltd.
|
|
1,037,151
|
|
860,101
|
|
*
|
|
Wus
Printed Circuit Co., Ltd.
|
|
3,003,928
|
|
591,434
|
|
|
|
Yageo
Corp.
|
|
26,995,840
|
|
6,126,375
|
|
|
|
Yang
Ming Marine Transport Corp.
|
|
9,139,615
|
|
3,226,464
|
|
|
|
Yeung
Cyang Industrial Co., Ltd.
|
|
881,196
|
|
457,111
|
|
*
|
|
Yi
Jinn Industrial Co., Ltd.
|
|
1,376,200
|
|
187,574
|
|
|
|
Yieh
Phui Enterprise Co., Ltd.
|
|
9,588,523
|
|
3,104,229
|
|
|
|
Yosun
Industrial Corp.
|
|
2,032,539
|
|
1,310,686
|
|
|
|
Yuanta
Financial Holding Co., Ltd.
|
|
9,699,422
|
|
5,672,539
|
|
|
|
Yuen
Foong Yu Paper Manufacturing Co., Ltd.
|
|
10,035,018
|
|
3,252,986
|
|
|
|
Yulon
Motor Co., Ltd.
|
|
6,427,572
|
|
4,091,758
|
|
|
|
Yung
Chi Paint & Varnish Manufacturing Co., Ltd.
|
|
55,687
|
|
58,516
|
|
|
|
Yung
Shin Pharmaceutical Industrial Co., Ltd.
|
|
551,400
|
|
583,809
|
|
|
|
Yung
Tay Engineering Co., Ltd.
|
|
2,407,000
|
|
1,255,293
|
|
|
|
Zig
Sheng Industrial Co., Ltd.
|
|
4,011,378
|
|
580,040
|
|
|
|
|
|
|
|
TOTAL
TAIWAN
|
|
|
|
673,746,036
|
|
40
THAILAND
(1.9%)
|
|
|
|
|
|
COMMON
STOCKS (1.9%)
|
|
|
|
|
|
*
|
|
Aapico
Hitech PCL (Foreign)
|
|
539,800
|
|
67,924
|
|
*
|
|
Adkinson
Securities PCL (Foreign)
|
|
8,756,728
|
|
114,159
|
|
|
|
Asia
Plus Securities PCL (Foreign)
|
|
7,008,500
|
|
268,144
|
|
*
|
|
Asian
Property Development PCL (Foreign)
|
|
1,911,600
|
|
183,115
|
|
|
|
Ayudhya
Insurance PCL (Foreign)
|
|
228,500
|
|
75,767
|
|
|
|
Bangchak
Petroleum PCL (Foreign)
|
|
150,000
|
|
50,163
|
|
|
|
Bangkok
Bank PCL (Foreign)
|
|
4,481,300
|
|
10,890,505
|
|
|
|
Bangkok
Bank PCL (Foreign) NVDR
|
|
4,518,700
|
|
10,885,348
|
|
|
|
Bangkok
Expressway PCL (Foreign)
|
|
3,883,500
|
|
1,705,944
|
|
|
|
Bangkok
First Investment & Trust PCL (Foreign)
|
|
1,295,500
|
|
111,615
|
|
|
|
Bangkok
Insurance PCL (Foreign)
|
|
87,880
|
|
495,625
|
|
*
|
|
Bangkok
Land PCL (Foreign)
|
|
78,669,103
|
|
557,383
|
|
|
|
Bank
of Ayudhya PCL (Foreign) NVDR
|
|
16,370,400
|
|
5,289,005
|
|
|
|
Banpu
PCL (Foreign)
|
|
593,900
|
|
4,796,982
|
|
|
|
Big
C Supercenter PCL (Foreign)
|
|
1,279,200
|
|
1,513,578
|
|
|
|
Cal-Comp
Electronics (Thailand) PCL (Foreign)
|
|
15,056,800
|
|
930,249
|
|
|
|
Capital
Nomura Securities PCL (Foreign)
|
|
478,400
|
|
219,642
|
|
|
|
Capital
Nomura Securities PCL (Foreign) NVDR
|
|
45,000
|
|
20,660
|
|
|
|
Central
Plaza Hotel PCL (Foreign)
|
|
5,422,500
|
|
467,179
|
|
|
|
Ch.
Karnchang PCL (Foreign)
|
|
720,000
|
|
77,132
|
|
|
|
Charoen
Pokphand Foods PCL (Foreign)
|
|
35,010,340
|
|
3,294,157
|
|
*
|
|
Charoong
Thai Wire & Cable PCL (Foreign)
|
|
724,900
|
|
60,811
|
|
|
|
Delta
Electronics (Thailand) PCL (Foreign)
|
|
4,830,100
|
|
1,628,970
|
|
|
|
Eastern
Water Resources Development & Management PCL (Foreign)
|
|
9,535,200
|
|
767,464
|
|
|
|
Erawan
Group PCL (Foreign)
|
|
4,288,950
|
|
161,664
|
|
*
|
|
G
J Steel PCL (Foreign)
|
|
124,232,100
|
|
563,331
|
|
|
|
GMM
Grammy PCL (Foreign)
|
|
338,100
|
|
119,775
|
|
*
|
|
Golden
Land Property PCL (Foreign)
|
|
232,500
|
|
10,872
|
|
*
|
|
Golden
Land Property PCL (Foreign) NVDR
|
|
570,000
|
|
26,654
|
|
|
|
Hana
Microelectronics PCL (Foreign)
|
|
1,555,000
|
|
533,244
|
|
|
|
Hermraj
Land & Development PCL (Foreign)
|
|
64,383,100
|
|
985,316
|
|
*
|
|
ICC
International PCL (Foreign)
|
|
2,710,500
|
|
3,235,931
|
|
*
|
|
Italian-Thai
Development PCL (Foreign) NVDR
|
|
14,073,000
|
|
1,005,072
|
|
|
|
Jasmine
International PCL (Foreign)
|
|
41,666,800
|
|
448,728
|
|
|
|
Kang
Yong Electric PCL (Foreign)
|
|
236,200
|
|
274,457
|
|
|
|
Kasikornbank
PCL (Foreign)
|
|
1,505,300
|
|
2,389,026
|
|
|
|
Kasikornbank
PCL (Foreign) NVDR
|
|
164,500
|
|
244,757
|
|
|
|
KGI
Securities One PCL (Foreign)
|
|
11,756,100
|
|
313,185
|
|
#
|
|
Kiatnakin
Finance PCL (Foreign)
|
|
2,815,900
|
|
1,133,223
|
|
|
|
Krung
Thai Bank PCL (Foreign)
|
|
33,380,400
|
|
5,013,919
|
|
|
|
Krungthai
Card PCL (Foreign)
|
|
1,326,700
|
|
259,437
|
|
|
|
Laguna
Resorts & Hotels PCL (Foreign)
|
|
1,342,400
|
|
916,872
|
|
|
|
Lalin
Property PCL (Foreign)
|
|
4,561,600
|
|
193,918
|
|
|
|
Land &
Houses PCL (Foreign)
|
|
559,510
|
|
65,013
|
|
|
|
Land &
Houses PCL (Foreign) NVDR
|
|
3,647,800
|
|
396,983
|
|
*
|
|
Loxley
PCL (Foreign)
|
|
7,775,300
|
|
440,714
|
|
41
|
|
MBK
Development PCL (Foreign)
|
|
888,800
|
|
1,309,837
|
|
|
|
MK
Real Estate Development PCL (Foreign)
|
|
5,772,100
|
|
217,568
|
|
|
|
Modernform
Group PCL (Foreign)
|
|
46,000
|
|
36,829
|
|
|
|
Muramoto
Electronic (Thailand) PCL (Foreign)
|
|
134,300
|
|
411,064
|
|
|
|
Noble
Development PCL (Foreign)
|
|
2,425,600
|
|
184,231
|
|
|
|
Padaeng
Industry PCL (Foreign) NVDR
|
|
1,600,800
|
|
607,927
|
|
|
|
Polyplex
PCL (Foreign)
|
|
5,424,000
|
|
673,292
|
|
|
|
Pranda
Jewelry PCL (Foreign)
|
|
610,000
|
|
61,545
|
|
|
|
Precious
Shipping PCL
|
|
320,400
|
|
115,320
|
|
|
|
Property
Perfect PCL (Foreign)
|
|
3,707,900
|
|
313,151
|
|
|
|
PTT
Aromatics & Refining PCL (Foreign)
|
|
5,015,216
|
|
2,046,737
|
|
|
|
PTT
Chemical PCL (Foreign)
|
|
3,076,810
|
|
3,662,350
|
|
*
|
|
Quality
Houses PCL (Foreign)
|
|
34,270,900
|
|
1,058,673
|
|
*
|
|
Regional
Container Lines PCL (Foreign)
|
|
5,884,700
|
|
1,150,756
|
|
|
|
Rojana
Industrial Park PCL (Foreign)
|
|
92,600
|
|
9,815
|
|
*
|
|
Saha
Pathana Inter-Holding PCL (Foreign)
|
|
3,262,400
|
|
1,571,795
|
|
*
|
|
Saha
Pathanapibul PCL (Foreign)
|
|
1,594,833
|
|
822,615
|
|
|
|
Saha-Union
PCL (Foreign)
|
|
2,976,400
|
|
1,138,767
|
|
|
|
Sahaviriya
Steel Industries PCL (Foreign)
|
|
68,900,700
|
|
800,603
|
|
|
|
Sansiri
PCL (Foreign)
|
|
9,982,900
|
|
577,161
|
|
|
|
SC
Asset Corp. PCL (Foreign)
|
|
1,345,200
|
|
263,055
|
|
|
|
Seamico
Securities PCL (Foreign)
|
|
5,788,600
|
|
292,014
|
|
|
|
Serm
Suk PCL (Foreign) NVDR
|
|
39,000
|
|
10,445
|
|
*
|
|
Shinawatra
Satellite PCL (Foreign)
|
|
5,868,900
|
|
685,273
|
|
|
|
Siam
City Bank PCL (Foreign)
|
|
2,563,700
|
|
722,936
|
|
|
|
Siam
Commercial Bank PCL (Foreign)
|
|
4,475,800
|
|
7,642,538
|
|
|
|
Siam
Industrial Credit PCL (Foreign)
|
|
1,840,950
|
|
107,478
|
|
|
|
Siam
Makro PCL (Foreign)
|
|
331,200
|
|
645,317
|
|
*
|
|
Sino-Thai
Engineering & Construction PCL (Foreign)
|
|
4,580,400
|
|
490,688
|
|
|
|
Sri
Trang Agro Industry PCL (Foreign)
|
|
1,240,631
|
|
312,927
|
|
|
|
Supalai
PCL (Foreign)
|
|
8,329,366
|
|
557,101
|
|
*
|
|
SVOA
PCL (Foreign)
|
|
4,744,000
|
|
86,047
|
|
|
|
Tata
Steel (Thailand) PCL (Foreign)
|
|
16,665,500
|
|
510,096
|
|
|
|
Thai
Oil PCL (Foreign)
|
|
2,300,000
|
|
2,102,168
|
|
|
|
Thai
Plastic & Chemicals PCL (Foreign)
|
|
3,853,900
|
|
1,845,853
|
|
|
|
Thai
Rayon PCL (Foreign)
|
|
165,000
|
|
114,567
|
|
*
|
|
Thai
Rung Union Car PCL (Foreign)
|
|
5,386,250
|
|
259,505
|
|
|
|
Thai
Union Frozen Products PCL (Foreign)
|
|
1,173,600
|
|
731,733
|
|
*
|
|
Thai
Wacoal PCL (Foreign)
|
|
93,300
|
|
102,462
|
|
|
|
Thanachart
Capital PCL (Foreign)
|
|
6,228,800
|
|
1,977,117
|
|
|
|
The
Siam Cement PCL (Foreign) NVDR
|
|
377,100
|
|
1,293,159
|
|
|
|
Thoresen
Thai Agencies PCL (Foreign)
|
|
2,560,800
|
|
1,190,226
|
|
* #
|
|
Ticon
Industrial Connection PCL (Foreign)
|
|
105,200
|
|
21,019
|
|
*
|
|
Tipco
Asphalt PCL (Foreign)
|
|
403,856
|
|
132,768
|
|
|
|
Tisco
Financial Group PCL (Foreign)
|
|
1,041,700
|
|
419,219
|
|
*
|
|
TMB
Bank PCL (Foreign)
|
|
103,415,816
|
|
1,641,288
|
|
*
|
|
Total
Access Communication PCL (Foreign)
|
|
1,264,380
|
|
897,710
|
|
*
|
|
TPI
Polene PCL (Foreign)
|
|
9,987,124
|
|
973,663
|
|
*
|
|
Tycoons
Worldwide Group PCL (Foreign)
|
|
1,243,300
|
|
149,048
|
|
|
|
Univentures
PCL (Foreign)
|
|
3,481,400
|
|
140,105
|
|
|
|
Vanachai
Group PCL (Foreign)
|
|
9,076,500
|
|
354,983
|
|
|
|
Vibhavadi
Medical Center PCL (Foreign)
|
|
1,307,800
|
|
102,296
|
|
|
|
Vinythai
PCL (Foreign)
|
|
5,213,817
|
|
664,933
|
|
TOTAL
COMMON STOCKS
|
|
|
|
107,413,385
|
|
42
RIGHTS/WARRANTS
(0.0%)
|
|
|
|
|
|
*
|
|
Bangkok
Land PCL (Foreign) Warrants 01/07/10
|
|
15,090,426
|
|
21,384
|
|
*
|
|
Bangkok
Land PCL (Foriegn) Warrants 05/02/13
|
|
3,987,333
|
|
1,130
|
|
*
|
|
Krungthai
Card PCL (Foreign) Warrants 12/31/09
|
|
3,980,100
|
|
|
|
TOTAL
RIGHTS/WARRANTS
|
|
|
|
22,514
|
|
|
|
|
|
|
|
TOTAL
THAILAND
|
|
|
|
107,435,899
|
|
|
|
|
|
|
|
TURKEY
(2.1%)
|
|
|
|
|
|
COMMON
STOCKS (2.1%)
|
|
|
|
|
|
*
|
|
Adana
Cimento Sanayi Ticaret A.S.
|
|
425,898
|
|
140,809
|
|
|
|
Akbank
T.A.S.
|
|
3,719,088
|
|
14,366,008
|
|
*
|
|
Akcansa
Cimento Sanayi ve Ticaret A.S.
|
|
94,000
|
|
205,551
|
|
*
|
|
Akenerji Elektrik Uretim A.S.
|
|
201,755
|
|
1,040,510
|
|
*
|
|
Aksa
Akrilik Kimya Sanayii A.S.
|
|
847,158
|
|
1,041,851
|
|
|
|
Aksigorta
A.S.
|
|
771,674
|
|
1,549,353
|
|
|
|
Alarko
Carrier Sanayii ve Ticaret A.S.
|
|
23,199
|
|
146,639
|
|
|
|
Alarko
Holding A.S.
|
|
978,679
|
|
1,331,812
|
|
|
|
Alkim Alkali Kimya A.S.
|
|
55,205
|
|
161,191
|
|
*
|
|
Alternatifbank
A.S.
|
|
1
|
|
|
|
*
|
|
Altinyildiz mensucat ve Konfeksiyon Fabrikalari
A.S.
|
|
134,077
|
|
253,769
|
|
|
|
Anadolu
Anonim Turk Sigorta Sirketi A.S.
|
|
2,068,951
|
|
1,391,354
|
|
*
|
|
Anadolu
Cam Sanayii A.S.
|
|
1,486,816
|
|
1,194,714
|
|
|
|
Anadolu
Hayat Sigorta A.S.
|
|
299,133
|
|
326,150
|
|
|
|
Anadolu
Isuzu Otomotiv Sanayi ve Ticaret A.S.
|
|
59,275
|
|
142,987
|
|
|
|
Arcelik
A.S
|
|
457,818
|
|
767,985
|
|
*
|
|
Asya Katilim Bankasi A.S.
|
|
1,198,411
|
|
1,144,377
|
|
*
|
|
Ayen
Enerji A.S.
|
|
415,323
|
|
514,894
|
|
|
|
Aygaz
A.S.
|
|
1,118,602
|
|
1,652,830
|
|
|
|
Bagfas
Bandirma Gubre Fabrikalari A.S.
|
|
5,431
|
|
242,160
|
|
|
|
Banvit
Bandirma Vitaminli Yem Sanayii Ticaret A.S.
|
|
334,290
|
|
562,428
|
|
*
|
|
Bati
Anabolu Cimento A.S.
|
|
255,022
|
|
929,913
|
|
*
|
|
Beko
Elektronik A.S.
|
|
283,333
|
|
109,572
|
|
|
|
BIM
BirlesikMagazalar A.S.
|
|
9,033
|
|
246,744
|
|
*
|
|
Bolu
Cimento Sanayii A.S.
|
|
802,283
|
|
811,470
|
|
|
|
Borusan
Mannesmann Boru Sanayi ve Ticaret A.S.
|
|
98,343
|
|
436,626
|
|
*
|
|
Bossa
Ticaret ve Sanayi Isletmeleri Ticaret A.S.
|
|
576,288
|
|
833,053
|
|
*
|
|
Brisa
Bridgestone Sabanci Lastik San ve Ticaret A.S.
|
|
9,948
|
|
277,648
|
|
|
|
BSH
ev Aletleri Sanayi ve Ticaret A.S.
|
|
13,152
|
|
197,197
|
|
|
|
Bursa
Cimento Fabrikasi A.S.
|
|
8,256
|
|
28,299
|
|
|
|
Cemtas
Celik Makina Sanayi ve Ticaret A.S.
|
|
402,142
|
|
230,820
|
|
*
|
|
Cimsa
Cimento Sanayi ve Ticaret A.S.
|
|
495,774
|
|
1,271,012
|
|
|
|
Coca-Cola
Icecek A.S.
|
|
10,186
|
|
47,694
|
|
*
|
|
Dentas
Ambalaj ve Kagit Sanayi A.S.
|
|
1
|
|
|
|
*
|
|
Deva
Holding A.S.
|
|
64,250
|
|
112,381
|
|
*
|
|
Dogan
Gazetecilik A.S.
|
|
194,389
|
|
171,300
|
|
*
|
|
Dogan
Sirketler Grubu Holding A.S.
|
|
9,177,648
|
|
3,684,088
|
|
*
|
|
Dogan
Yayin Holding A.S.
|
|
121,662
|
|
50,416
|
|
43
|
|
Dogus
Otomotiv Servis ve Ticaret A.S.
|
|
52,000
|
|
88,151
|
|
*
|
|
Eczacibasi
Yapi Gerecleri Sanayi ve Ticaret A.S.
|
|
339,824
|
|
262,586
|
|
*
|
|
EGE
Seramik Sanayi ve Ticaret A.S.
|
|
41,683
|
|
16,678
|
|
|
|
EIS
Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret A.S.
|
|
880,692
|
|
665,285
|
|
|
|
Enka Insaat ve Sanayi A.S.
|
|
43,367
|
|
184,552
|
|
|
|
Eregli Demir ve Celik Fabrikalari Turk A.S.
|
|
5,335,662
|
|
12,945,401
|
|
|
|
Ford
Otomotiv Sanayi A.S.
|
|
53,500
|
|
178,986
|
|
*
|
|
Fortis
Bank A.S.
|
|
1
|
|
1
|
|
|
|
Gentas
Clenel Metal Sanayi ve Ticaret A.S.
|
|
312,958
|
|
179,803
|
|
*
|
|
Global
Yatirim Holding A.S.
|
|
1,275,893
|
|
311,028
|
|
*
|
|
Goldas
Kuyumculuk Sanayi A.S.
|
|
552,019
|
|
319,773
|
|
|
|
Goltas
Goller Bolgesi Cimento Sanayi ve Ticaret A.S.
|
|
24,412
|
|
433,374
|
|
*
|
|
Goodyear
Lastikleri T.A.S.
|
|
77,420
|
|
364,551
|
|
*
|
|
GSD
Holding A.S.
|
|
2,225,362
|
|
652,029
|
|
|
|
Gubre
Fabrikalari Ticaret A.S.
|
|
43,641
|
|
165,814
|
|
|
|
Gunes
Sigorta A.S.
|
|
439,694
|
|
381,174
|
|
|
|
Hektas
Ticaret T.A.S.
|
|
380,059
|
|
196,539
|
|
*
|
|
Hurriyet
Gazetecilik ve Matbaacilik A.S.
|
|
121,662
|
|
52,493
|
|
*
|
|
Ihlas
Ev Aletleri Imalat Sanayi ve Ticaret A.S.
|
|
52,706
|
|
29,366
|
|
*
|
|
Ihlas
Holding A.S.
|
|
2,158,431
|
|
403,901
|
|
|
|
Izmir
Demir Celik Sanayii A.S.
|
|
661,228
|
|
777,805
|
|
*
|
|
Kardemir Karabuk Demir Sanayi ve Ticaret A.S.
|
|
1,477,478
|
|
994,715
|
|
|
|
Karton
Sanayi ve Ticaret A.S.
|
|
9,078
|
|
339,681
|
|
*
|
|
Koc
Holding A.S. Series B
|
|
2,403,593
|
|
4,386,999
|
|
|
|
Konya
Cimento Sanayii A.S.
|
|
6,740
|
|
195,623
|
|
*
|
|
Kordsa
Global Endustriyel Iplik ve Kord Bezi Sanayi ve Ticaret A.S.
|
|
1,006,611
|
|
1,005,672
|
|
|
|
Mardin
Cimento Sanayii ve Ticaret A.S.
|
|
249,809
|
|
754,964
|
|
*
|
|
Marmari
Marti Otel Isletmeleri A.S.
|
|
869,614
|
|
309,236
|
|
|
|
Marshall
Boya ve Vernik Sanayii A.S.
|
|
27,295
|
|
128,889
|
|
*
|
|
Medya
Holdings A.S.
|
|
33,508
|
|
|
|
*
|
|
Menderes
Tekstil Sanayi ve Ticaret A.S.
|
|
1,340,476
|
|
244,028
|
|
*
|
|
Multu
Aku ve Malzemeleri Sanayi A.S.
|
|
249,949
|
|
189,855
|
|
*
|
|
Net
Holding A.S.
|
|
1,239,663
|
|
324,961
|
|
*
|
|
Net
Turizm Ticaret ve Sanayi A.S.
|
|
1,033,536
|
|
419,547
|
|
|
|
Nortel
Networks Netas Telekomuenikasyon A.S.
|
|
41,707
|
|
382,299
|
|
|
|
Otobus
Karoseri Sanayi A.S.
|
|
51,460
|
|
359,793
|
|
*
|
|
Parsan
Makina Parcalari Sanayii A.S.
|
|
350,178
|
|
239,386
|
|
*
|
|
Petkim
Petrokimya Holding A.S.
|
|
217,250
|
|
627,663
|
|
|
|
Pinar Entegre Et ve Un Sanayi A.S.
|
|
231,479
|
|
369,787
|
|
|
|
Pinar
Sut Mamulleri Sanayii A.S.
|
|
48,128
|
|
92,653
|
|
*
|
|
Raks
Elektronik Sanayi ve Ticaret A.S.
|
|
5,859
|
|
2,892
|
|
*
|
|
Sabah
Yayincilik A.S.
|
|
31,938
|
|
75,841
|
|
*
|
|
Sanko Pazarlama Ithalat Ihracat A.S.
|
|
107,831
|
|
163,830
|
|
|
|
Sarkuysan
Elektrolitik Bakir Sanayi ve Ticaret A.S.
|
|
574,295
|
|
717,452
|
|
*
|
|
Sekerbank
T.A.S.
|
|
1,552,724
|
|
1,489,768
|
|
*
|
|
Tat Konserve Sanayii A.S.
|
|
602,024
|
|
557,154
|
|
*
|
|
Tekfen
Holding A.S.
|
|
212,000
|
|
456,323
|
|
*
|
|
Tekstil
Bankasi A.S.
|
|
931,412
|
|
324,622
|
|
*
|
|
Tire
Kutsan Oluklu Mukavva Kutu Ve Kagit Sanayii A.S. (B03MY22)
|
|
156,597
|
|
264,255
|
|
44
*
|
|
Tire
Kutsan Oluklu Mukavva Kutu Ve Kagit Sanayii A.S. (B3N5HB2)
|
|
239,397
|
|
261,801
|
|
|
|
Tofas
Turk Otomobil Fabrikasi A.S.
|
|
767,038
|
|
928,999
|
|
*
|
|
Trakya
Cam Sanayii A.S.
|
|
2,046,874
|
|
1,441,827
|
|
|
|
Tupras-Turkiye
Petrol Rafinerileri A.S.
|
|
156,338
|
|
1,566,615
|
|
|
|
Turcas
Petrol A.S.
|
|
280,000
|
|
560,830
|
|
*
|
|
Turk Ekonomi Bankasi A.S.
|
|
743,000
|
|
431,630
|
|
*
|
|
Turk
Sise ve Cam Fabrikalari A.S.
|
|
3,231,816
|
|
2,521,878
|
|
|
|
Turkcell Iletisim Hizmetleri A.S. ADR
|
|
146,600
|
|
1,861,820
|
|
*
|
|
Turkiye
Garanti Bankasi A.S.
|
|
7,964,802
|
|
16,698,875
|
|
|
|
Turkiye
Is Bankasi A.S.
|
|
3,033,727
|
|
8,758,473
|
|
*
|
|
Turkiye
Sinai Kalkinma Bankasi A.S.
|
|
884,219
|
|
513,390
|
|
|
|
Turkiye
Vakiflar Bankasi T.A.O.
|
|
2,296,700
|
|
2,600,392
|
|
|
|
Ulker Biskuvi Sanayi A.S.
|
|
741,800
|
|
1,102,970
|
|
*
|
|
USAS
Ucak Servisi A.S.
|
|
134,650
|
|
108,347
|
|
*
|
|
Uzel
Makina Sanayii A.S.
|
|
275,042
|
|
134,062
|
|
*
|
|
Vestel
Elektronik Sanayi ve Ticaret A.S.
|
|
859,088
|
|
759,136
|
|
|
|
Yapi Kredi Finansal Kiralama A.S.
|
|
45,196
|
|
72,634
|
|
*
|
|
Yapi ve Kredi Bankasi A.S.
|
|
4,431,636
|
|
5,983,090
|
|
*
|
|
Zorlu Enerji Elektrik Uretim A.S.
|
|
396,846
|
|
703,880
|
|
TOTAL
COMMON STOCKS
|
|
|
|
118,653,432
|
|
|
|
|
|
|
|
RIGHTS/WARRANTS
(0.0%)
|
|
|
|
|
|
*
|
|
Deva
Holding A.S. Rights 05/05/09
|
|
64,250
|
|
136,510
|
|
|
|
|
|
|
|
TOTAL
TURKEY
|
|
|
|
118,789,942
|
|
|
|
|
|
|
|
|
|
|
|
Face
Amount
|
|
Value
|
|
|
|
(000)
|
|
|
|
TEMPORARY
CASH INVESTMENTS (0.3%)
|
|
|
|
|
|
|
|
Repurchase
Agreement, PNC Capital Markets, Inc. 0.19%, 05/01/09 (Collateralized by
$15,665,000 FHLMC 5.50%, 06/01/38, valued at $15,573,452) to be repurchased
at $15,339,081
|
|
$15,339
|
|
15,339,000
|
|
|
|
|
|
|
|
|
|
Shares
|
|
|
|
SECURITIES
LENDING COLLATERAL (11.5%)
|
|
|
|
|
|
§ @
|
|
DFA
Short Term Investment Fund LP
|
|
654,780,649
|
|
654,780,649
|
|
|
|
|
|
|
|
|
|
Face
Amount
|
|
|
|
|
|
(000)
|
|
|
|
@
|
|
Repurchase
Agreement, Deutsche Bank Securities 0.17%, 05/01/09
(Collateralized by $51,198,873 FHLMC 7.000%(r), 08/01/38, valued at $387,586)
to be repurchased at $379,988
|
|
$380
|
|
379,986
|
|
TOTAL
SECURITIES LENDING COLLATERAL
|
|
|
|
655,160,635
|
|
|
|
|
|
|
|
TOTAL
INVESTMENTS - (100.0%)
(Cost $6,206,263,533)
|
|
|
|
$5,663,821,177
|
|
See accompanying Notes to Financial Statements.
45
ITEM
7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR
CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
This item is not
applicable to the Registrant, which is an open-end management investment
company.
ITEM
8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT
COMPANIES.
This item is not
applicable to the Registrant, which is an open-end management investment
company.
ITEM
9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END
MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.
This item is not applicable
to the Registrant, which is an open-end management investment company.
ITEM
10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
None.
ITEM
11. CONTROLS AND PROCEDURES.
(a) Based on their evaluation of the
Registrants disclosure controls and procedures as of a date within 90 days of
the filing date of this Form N-CSR (the Report), the Registrants
Principal Executive Officer and Principal Financial Officer believe that the
disclosure controls and procedures (as defined in Rule 30a-3(c) under
the Investment Company Act of 1940, as amended) are effectively designed to
ensure that information required to be disclosed by the Registrant in the
Report is recorded, processed, summarized and reported by the filing date,
including ensuring that information required to be disclosed in the Report is
accumulated and communicated to the Registrants officers that are making
certifications in the Report, as appropriate, to allow timely decisions
regarding required disclosure. The
Registrants management, including the Principal Executive Officer and the
Principal Financial Officer, recognizes that any set of controls and
procedures, no matter how well designed and operated, can provide only
reasonable assurance of achieving the desired control objectives.
(b) There were no changes in the Registrants
internal control over financial reporting (as defined in Rule 30a-3(d) under
the Investment Company Act of 1940, as amended) that occurred during the second
fiscal quarter of the period covered by this Report that have materially
affected, or are reasonably likely to materially affect, the Registrants
internal control over financial reporting.
ITEM
12. EXHIBITS.
(a)(1) This item is not applicable.
(a)(2) Certifications pursuant to Section 302
of the Sarbanes-Oxley Act of 2002 are filed herewith.
(a)(3) This item is not applicable.
(b) Certifications pursuant to Section 906
of the Sarbanes-Oxley Act of 2002 are filed herewith.
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934 and the Investment Company
Act of 1940, the Registrant has duly caused this Report to be signed on its
behalf by the undersigned, thereunto duly authorized.
Dimensional Emerging
Markets Value Fund Inc.
By:
|
/s/ David G. Booth
|
|
|
David G. Booth
|
|
|
Chairman, Director,
President and
|
|
|
Chief Executive Officer
|
|
|
|
|
Date: July 8, 2009
|
Pursuant to the
requirements of the Securities Exchange Act of 1934 and the Investment Company
Act of 1940, this Report has been signed below by the following persons on
behalf of the Registrant and in the capacities and on the dates indicated.
By:
|
/s/ David G. Booth
|
|
|
David G. Booth
|
|
|
Principal Executive
Officer
|
|
|
Dimensional Emerging
Markets Value Fund Inc.
|
|
|
|
|
Date: July 8, 2009
|
By:
|
/s/ David R. Martin
|
|
|
David R. Martin
|
|
|
Principal Financial
Officer
|
|
|
Dimensional Emerging
Markets Value Fund Inc.
|
|
|
|
|
Date: July 8, 2009
|
EX-99.CERT
2
a09-10326_3ex99dcert.htm
EX-99.CERT
Exhibit
99.CERT
CERTIFICATION
PURSUANT TO SECTION 302 OF
THE SARBANES-OXLEY
ACT OF 2002
I, David G. Booth,
certify that:
1. I have reviewed this report on Form N-CSR
of Dimensional Emerging Markets Value Fund Inc. (the Registrant);
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 financial
statements, and other financial information included in this report, fairly
present in all material respects the financial condition, results of
operations, changes in net assets, and cash flows (if the financial statements
are required to include a statement of cash flows) of the Registrant as of, and
for, the periods presented in this report;
4. The Registrants other certifying officer
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, as amended) and internal control over financial reporting (as
defined in Rule 30a-3(d) under the Investment Company Act of 1940, as
amended) for the Registrant and have:
a) designed such disclosure controls and
procedures, or caused such disclosure controls and procedures to be designed
under our supervision, to ensure that material information relating to the
Registrant, including its consolidated subsidiaries, is made known to us by
others within those entities, particularly during the period in which this
report is being prepared;
b) designed such internal control over
financial reporting, or caused such internal control over financial reporting
to be designed under our supervision, to provide reasonable assurance regarding
the reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with generally accepted
accounting principals;
c) evaluated the effectiveness of the
Registrants disclosure controls and procedures and presented in this report
our conclusions about the effectiveness of the disclosure controls and
procedures, as of a date within 90 days prior to the filing date of this report
based on such evaluation; and
d) disclosed in this report any change in
the Registrants internal control over financial reporting that occurred during
the second fiscal quarter of the period covered by this report that has
materially affected, or is reasonably likely to materially affect, the
Registrants internal control over financial reporting; and
5. The Registrants other certifying officer
and I have disclosed to the Registrants auditors and the audit committee of
the Registrants board of directors (or persons performing the equivalent
functions):
a) all significant deficiencies and material
weaknesses in the design or operation of internal control over financial
reporting which are reasonably likely to adversely affect the Registrants ability
to record, process, summarize, and report financial information; and
b) any fraud, whether or not material, that
involves management or other employees who have a significant role in the
Registrants internal control over financial reporting.
Date: July 8, 2009
By:
|
/s/ David G. Booth
|
|
|
David G. Booth
|
|
Principal Executive
Officer
|
|
Dimensional Emerging
Markets Value Fund Inc.
|
CERTIFICATION PURSUANT TO SECTION 302 OF
THE SARBANES-OXLEY
ACT OF 2002
I, David R. Martin,
certify that:
1. I have reviewed this report on Form N-CSR
of Dimensional Emerging Markets Value Fund Inc. (the Registrant);
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 financial
statements, and other financial information included in this report, fairly
present in all material respects the financial condition, results of
operations, changes in net assets, and cash flows (if the financial statements
are required to include a statement of cash flows) of the Registrant as of, and
for, the periods presented in this report;
4. The Registrants other certifying officer
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, as amended) and internal control over financial reporting (as
defined in Rule 30a-3(d) under the Investment Company Act of 1940, as
amended) for the Registrant and have:
a) designed such disclosure controls and
procedures, or caused such disclosure controls and procedures to be designed
under our supervision, to ensure that material information relating to the
Registrant, including its consolidated subsidiaries, is made known to us by
others within those entities, particularly during the period in which this
report is being prepared;
b) designed such internal control over
financial reporting, or caused such internal control over financial reporting
to be designed under our supervision, to provide reasonable assurance regarding
the reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with generally accepted
accounting principals;
c) evaluated the effectiveness of the
Registrants disclosure controls and procedures and presented in this report
our conclusions about the effectiveness of the disclosure controls and
procedures, as of a date within 90 days prior to the filing date of this report
based on such evaluation; and
d) disclosed in this report any change in
the Registrants internal control over financial reporting that occurred during
the second
fiscal quarter of the
period covered by this report that has materially affected, or is reasonably
likely to materially affect, the Registrants internal control over financial
reporting; and
5. The Registrants other certifying officer
and I have disclosed to the Registrants auditors and the audit committee of
the Registrants board of directors (or persons performing the equivalent
functions):
a) all significant deficiencies and material
weaknesses in the design or operation of internal control over financial
reporting which are reasonably likely to adversely affect the Registrants
ability to record, process, summarize, and report financial information; and
b) any fraud, whether or not material, that
involves management or other employees who have a significant role in the
Registrants internal control over financial reporting.
Date: July 8, 2009
By:
|
/s/ David R. Martin
|
|
|
David R. Martin
|
|
Principal Financial
Officer
|
|
Dimensional Emerging
Markets Value Fund Inc.
|
EX-99.906CERT
3
a09-10326_3ex99d906cert.htm
EX-99.906CERT
Exhibit
99.906CERT
CERTIFICATIONS
PURSUANT TO SECTION 906 OF THE
SARBANES-OXLEY ACT
OF 2002
David G. Booth, Principal
Executive Officer, and David R. Martin, Principal Financial Officer, of Dimensional
Emerging Markets Value Fund Inc., a Maryland corporation (the Registrant),
each certify that:
1. The Registrants periodic report on Form N-CSR
for the period ended April 30, 2009 (the Report) fully complies with the
requirements of Section 13(a) or Section 15(d) of the
Securities Exchange Act of 1934, as amended, as applicable; and
2. The information contained in the Report
fairly presents, in all material respects, the financial condition and results
of operations of the Registrant.
By:
|
/s/ David G. Booth
|
|
|
David G. Booth
|
|
|
Principal Executive Officer
|
|
|
Dimensional Emerging
Markets Value Fund Inc.
|
|
Date: July 8,
2009
By:
|
/s/ David R. Martin
|
|
|
David R. Martin
|
|
|
Principal Financial
Officer
|
|
|
Dimensional Emerging
Markets Value Fund Inc.
|
|
Date: July 8, 2009
GRAPHIC
4
j09103267_za008.jpg
GRAPHIC
begin 644 j09103267_za008.jpg
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