Edgar Filing: MICROSOFT CORP

11-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 11-K

☒	ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2017

☐	TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Transition Period From to

Commission File Number 001-37845

A.	Full title of the plan and the address of the plan, if different from that of the issuer named below:

MICROSOFT CORPORATION SAVINGS PLUS 401(k) PLAN

B.	Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

Microsoft Corporation

One Microsoft Way

Redmond, Washington 98052-6399

REQUIRED INFORMATION

The Microsoft Corporation Savings Plus 401(k) Plan (the “Plan”) is subject to the Employee Retirement Income Security Act of 1974 (“ERISA”). Therefore, in lieu of the required information outlined as Items 1-3 of the Form 11-K, the statements of net assets available for benefits and the related statements of changes in net assets available for benefits as of and for the years ended December 31, 2017 and 2016, which have been prepared in accordance with the financial reporting requirements of ERISA, are attached hereto as Appendix 1 and incorporated herein by this reference.

SIGNATURES

The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report on Form 11-K to be signed on its behalf by the undersigned hereunto duly authorized.


		MICROSOFT CORPORATION SAVINGS PLUS 401(K) PLAN

Date: June 14, 2018		/S/ KRISTEN ROBY DIMLOW
		Kristen Roby Dimlow
		Member of 401(k) Administrative Committee

Date: June 14, 2018		/S/ DANIEL GOFF
		Daniel Goff
		Member of 401(k) Administrative Committee

Date: June 14, 2018		/S/ GEORGE ZINN
		George Zinn
		Member of 401(k) Administrative Committee

APPENDIX 1

MICROSOFT CORPORATION

SAVINGS PLUS 401(k) PLAN

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM;

FINANCIAL STATEMENTS AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016;

NOTES TO FINANCIAL STATEMENTS; AND

SUPPLEMENTAL SCHEDULE OF ASSETS (HELD AT END OF YEAR) AS OF DECEMBER 31, 2017

MICROSOFT CORPORATION

SAVINGS PLUS 401(k) PLAN

TABLE OF CONTENTS




	Page

Report of Independent Registered Public Accounting Firm		1

Financial Statements:

Statements of Net Assets Available for Benefits as of December 31, 2017 and 2016		2

Statements of Changes in Net Assets Available for Benefits for the Years Ended December 31, 2017 and 2016		3

Notes to Financial Statements		4

Supplemental Schedule:

Supplemental Schedule of Assets (Held at End of Year) as of December 31, 2017		10

Exhibit:

Consent of Independent Registered Public Accounting Firm

NOTE:

All other schedules required by Section 2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under ERISA have been omitted because they are not applicable.

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Participants and Administrators of the Microsoft Corporation Savings Plus 401(k) Plan

Redmond, WA

Opinion on the Financial Statements

We have audited the accompanying statements of net assets available for benefits of the Microsoft Corporation Savings Plus 401(k) Plan (the “Plan”) as of December 31, 2017 and 2016, and the related statements of changes in net assets available for benefits for the years then ended and the related notes (collectively referred to as the “financial statements”). In our opinion, such financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2017 and 2016, and the changes in net assets available for benefits for the years then ended, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Report on Supplemental Schedule

The supplemental schedule of assets (held at end of year) as of December 31, 2017 has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental schedule is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental schedule reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule. In forming our opinion on the supplemental schedule, we evaluated whether the supplemental schedule, including its form and content, is presented in compliance with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, such schedule is fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ DELOITTE & TOUCHE LLP

Seattle, Washington

June 14, 2018

We have served as the auditor of the Plan since 1987.

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS




December 31,	2017		2016

ASSETS
Cash	$	4,601,325	$	6,657,057
Investments held by trustee, at fair value		19,929,242,613		15,508,498,383
Receivables:
Participant loans		122,514,373		114,393,990
Other receivables		17,054,211		19,576,190

Total receivables		139,568,584		133,970,180

Total assets	$	20,073,412,522	$	15,649,125,620


LIABILITIES
Operating payables	$	4,369,486	$	3,527,074
Other payables		11,611,061		11,180,525

Total liabilities	$	15,980,547	$	14,707,599

NET ASSETS AVAILABLE FOR BENEFITS	$	20,057,431,975	$	15,634,418,021

Refer to accompanying notes.

STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS




Year Ended December 31,	2017		2016

ADDITIONS
Net investment income:
Net increase in fair value of investments	$	3,489,810,196	$	1,075,665,112
Interest and dividends		51,606,670		44,485,313

Total net investment income		3,541,416,866		1,120,150,425


Contributions:
Participant contributions		1,226,183,000		1,097,835,646
Employer contributions		488,630,831		446,705,032

Total contributions		1,714,813,831		1,544,540,678

Total additions before transfers		5,256,230,697		2,664,691,103

DEDUCTIONS
Benefits paid to participants		833,584,671		728,779,614

INCREASE IN NET ASSETS BEFORE TRANSFERS		4,422,646,026		1,935,911,489

Net transfers in		367,928		0

INCREASE IN NET ASSETS AVAILABLE FOR BENEFITS		4,423,013,954		1,935,911,489

NET ASSETS AVAILABLE FOR BENEFITS
Beginning of year		15,634,418,021		13,698,506,532

End of year	$	20,057,431,975	$	15,634,418,021

Refer to accompanying notes.

NOTES TO FINANCIAL STATEMENTS

NOTE 1 — DESCRIPTION OF THE PLAN AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Plan Description

The Microsoft Corporation Savings Plus 401(k) Plan (the “Plan”), a defined contribution plan, is sponsored by Microsoft Corporation (the “Company” or “Microsoft”). Participating employers included in the Plan are Microsoft Corporation; MOL Corporation; Vexcel Corporation; Microsoft Online, Inc; Microsoft Payments, Inc; Microsoft Open Technologies, Inc; and Microsoft Technology Licensing. These entities represent Microsoft or wholly owned subsidiaries of Microsoft. The Plan year is January 1 through December 31. The Plan is administered by the 401(k) Administrative Committee (the “Plan Administrator”) and subject to the provisions of ERISA. The information below summarizes certain aspects of the Plan as in effect during 2017 and 2016, and is intended to be a summary only. Plan participants should refer to the Summary Plan Description for more complete information.

Accounting Principles

The financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).

Eligibility

Regular and retail services employees of participating employers who are on U.S. payroll and have reached age 18 may enroll in the Plan at any time.

Eligible Compensation

Eligible compensation includes wages, salary, bonuses, commissions, and overtime. Compensation does not include, for example, items such as stock awards, amounts realized on the exercise of stock options, reimbursements or other expense allowances, fringe benefits (cash and noncash), moving expenses, deferred compensation, welfare plan benefits including health or life insurance, or bonuses or expense allowances which are not based upon performance as an employee.

Contributions

Participant Contributions

Participants may contribute to the Plan on a pre-tax and/or Roth basis using eligible compensation each pay period, subject to regulatory limitations. Participants reaching age 50 or older by the end of the Plan year may also elect to make additional catch-up contributions to the Plan on a pre-tax and/or Roth basis. Additionally, participants may contribute up to $20,000 annually on an after-tax basis for 2017 and 2016. A participant’s aggregate contribution election (combined pre-tax, Roth, pre-tax catch-up, Roth catch-up, and after-tax) may not exceed 65 percent of his or her eligible compensation per pay period. Participants may elect to suspend their contributions at any time and may elect to reinstate their contributions at any subsequent entry date.

Participants may also choose to make rollover contributions to the Plan of amounts received from an eligible employer plan maintained by another company, including direct rollovers from such plans. Effective April 17, 2017, participants may also make rollover contributions to the plan from an individual retirement account or annuity described in Internal Revenue Code (“IRC”) Section 408(a) or 408(b) that is eligible to be rolled over and would otherwise be includible in gross income.

Employer Contributions

The Company provides participants with a matching contribution on eligible pre-tax and/or Roth contributions of $0.50 for every $1.00 contributed. The matching contribution is provided for up to 50 percent of the maximum annual 401(k) pre-tax and Roth contribution limit of $18,000 for 2017 and 2016. Participants do not receive a match on after-tax contributions.

Transfers

The Company acquired TouchType Ltd. in 2016 and the TouchType Inc. 401k plan assets merged into the Plan during 2017. The merged assets are included as transfers in the statement of changes in net assets available for benefits for the Plan year ended December 31, 2017.

Employee Stock Ownership Plan Feature

The Plan includes an Employee Stock Ownership Plan (“ESOP”) feature for the portion of the Plan designed to invest primarily in Microsoft Common Stock. The ESOP feature allows participants to either reinvest their cash dividends earned on Microsoft Common Stock or receive those dividends in cash. Amounts invested in Microsoft Common Stock are treated as being held through the ESOP, provided that at the time such amounts were received by the Plan (e.g., through contributions or transfers), the participants whose Plan accounts received such assets were employed by Microsoft or a corporation that is part of the same controlled group of corporations as Microsoft.

Participants who are not employed by an employer established as a corporation that is part of the same controlled group of corporations as Microsoft may not participate in the ESOP, but may invest their contributions and earnings in Microsoft Common Stock. Participants that are not eligible to participate in the ESOP feature are not eligible to receive dividends on Microsoft Common Stock in cash paid directly to them. Instead, dividends paid on contributions invested in Microsoft Common Stock and the earnings that accumulate on those contributions will automatically be reinvested in Microsoft Common Stock.

Effective January 1, 2016, the investment of new contributions or transfer of existing account holdings into Microsoft Common Stock within the Plan was discontinued. Participant accounts with existing Microsoft Common Stock can retain those holdings, and dividends on Microsoft Common Stock can continue to be reinvested or received in cash.

Participant Accounts

Each participant’s account is credited with (a) participant contributions and employer contributions, and (b) the allocation of Plan earnings and expenses, based on participant earnings or account balances, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account. All amounts in participant accounts are participant-directed. Participants may invest in various instruments including mutual funds, common collective trusts, and separately managed accounts. Participants also have the option to direct their investments through a brokerage account.

Vesting

Participants are fully vested in Plan accounts at all times.

Distributions

Active participants may take a withdrawal from the Plan in the event of a financial hardship. A hardship withdrawal is limited to the amount necessary to meet the participant’s immediate financial need, and further limited to pre-tax contributions, after-tax contributions, pre-tax catch-up contributions, and rollover contributions (excluding rollover contributions attributable to designated Roth contributions, Roth in-plan conversion amounts and earnings thereon, and acquisition rollovers). A hardship withdrawal will generally result in a six-month suspension of contributions (other than rollover contributions) to the Plan. Active participants may also take a withdrawal from their rollover and after-tax account types within the Plan without meeting one of the hardship criteria.

After reaching age 59¹⁄₂, active participants may withdraw all, or any portion, of the balance in their accounts. Distributions, in full or any portion, may also occur if the participant terminates employment, retires, becomes permanently disabled, or dies. Distributions of investments in Microsoft Common Stock may be taken in the form of Microsoft Common Stock or cash. Distributions may be made in installments.

In-Plan Roth Conversions

Active participants may convert their Plan distribution-eligible balances to their Roth account within the Plan.

Administrative Expenses

Plan administrative expenses are paid by the Company to the extent not paid or offset by the Plan. Participants are responsible for fees associated with certain transactions such as loan originations and maintenance, domestic relations order qualifications, and dividend check processing. Participants also pay commission charges to Fidelity for buying and selling Microsoft Common Stock within the Plan.

Plan Amendment and Termination

The Company has the right to amend or terminate the Plan. If the Plan is terminated, all account balances will be distributed in the form and manner determined by the Plan Administrator.

Risks and Uncertainties

The Plan utilizes various investment instruments, including common stock, mutual funds, common collective trusts, and separately managed accounts. Investment securities, in general, are exposed to various risks, such as interest rate risk, credit risk, and overall market volatility. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the amounts reported in the financial statements.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and changes therein. Actual results and outcomes may differ from management’s estimates and assumptions. The Plan has no contingent assets or liabilities for any periods presented in these financial statements.

Valuation of Investments

Investments are recorded at fair value. Security transactions are accounted for as of the trade date. Dividend income is recorded on the ex-dividend date, and interest income is recorded as earned.

Participant Loans

Participant loans are measured at their unpaid principal balance plus any accrued but unpaid interest, and participant loans deemed distributed due to default are included in benefits paid to participants on the statements of changes in net assets available for benefits.

Other Receivables and Payables

Other receivables and payables as of December 31, 2017 and 2016 primarily consist of unsettled trades. Other receivables also include accrued interest.

NOTE 2 — PARTICIPANT LOANS

Participant loans are available in $100 increments ranging from $1,000 to $50,000. The maximum loan amount is the lesser of (a) 50 percent of the vested account balance, reduced by the current outstanding balance of all other

loans from the Plan; or (b) $50,000, reduced by: (1) the current outstanding balance of all other loans from the Plan, and (2) the excess (if any) of all Plan loans during the previous 12 months over the current outstanding balance of Plan loans. When determining the maximum loan amount available under the Plan, outstanding loan balances under any subsidiary and affiliate Microsoft retirement plans are considered in conjunction with the Plan. Participants are limited to two loans – one Primary Residence Loan and one General Loan. The term of a Primary Residence Loan may not exceed 15 years (or 30 years for Nokia Plan legacy loans) or be less than 12 months. The term of a General Loan may not exceed five years (or 15 years for Nokia Plan legacy loans) or be less than 12 months.

The interest rate for participant loans is 1 percent plus the prime rate on corporate loans. The range of interest rates for outstanding Primary Residence Loans as of December 31, 2017 was 3.25 percent to 9.00 percent, maturing at various dates through March 2044. The range of interest rates for outstanding General Loans as of December 31, 2017 was 3.25 percent to 5.25 percent, maturing at various dates through January 2023.

Loan repayments are made through after-tax payroll deductions. Terminated employees generally have 60 days to elect to continue to make loan repayments or pay off the loan in full. Failure of the terminated employee to establish a loan repayment service or payoff the loan in full during this 60-day window generally results in a default of the loan, which is taxable income to the participant, with a possible 10 percent early withdrawal penalty.

NOTE 3 — TAX STATUS

The Internal Revenue Service has determined and informed the Plan by a letter dated August 21, 2014, that the Plan is qualified as a tax-exempt plan under the appropriate sections of the IRC. The determination letter covered Plan amendments adopted from September 17, 2010 through August 5, 2014, and the trust agreement with Fidelity adopted on July 19, 2013. The Plan has been amended since receiving the determination letter; however, the Plan Administrator believes that the Plan is currently designed and operated in compliance with the applicable requirements of the IRC. Therefore, the Plan is tax-exempt as of the financial statement date and no provision for income taxes has been recorded in the financial statements.

NOTE 4 — PARTY-IN-INTEREST TRANSACTIONS

Certain Plan investments include common collective trusts that are managed by affiliates of Fidelity. Fidelity is the trustee and third-party administrator as defined by the Plan; therefore, these transactions qualify as party-in-interest transactions.

Transactions in Microsoft Common Stock also qualify as party-in-interest transactions. As of December 31, 2017 and 2016, the Plan held 17,841,741 shares of Microsoft Common Stock valued at $1,526,182,502 and 19,376,026 shares of Microsoft Common Stock valued at $1,204,026,250, respectively. During the years ended December 31, 2017 and 2016, the Plan recorded Microsoft Common Stock dividend income of $29,683,123 and $29,480,318, respectively.

NOTE 5 — FINANCIAL INSTRUMENTS

The Plan accounts for certain assets and liabilities at fair value. The hierarchy below lists three levels of fair value based on the extent to which inputs used in measuring fair value are observable in the market. The Plan categorizes each of its fair value measurements in one of these three levels based on the lowest level input that is significant to the fair value measurement in its entirety. These levels are:

•

Level 1—inputs are based upon unadjusted quoted prices for identical instruments in active markets. The Plan’s Level 1 non-derivative investments primarily include domestic and international equities, mutual funds, and U.S. government securities. The Plan’s Level 1 derivative assets include those actively traded on exchanges.

•

Level 2—inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques (e.g. the Black-Scholes model) for which all significant inputs are observable in the market or can be

corroborated by observable market data for substantially the full term of the assets or liabilities. Where applicable, these models project future cash flows and discount the future amounts to a present value using market-based observable inputs including interest rate curves, credit spreads, foreign exchange rates, and forward and spot prices for currencies and commodities. The Plan’s Level 2 non-derivative investments consist primarily of mutual funds in the Plan’s separately managed accounts. The Plan’s Level 2 derivative assets and liabilities primarily include certain over-the-counter option and currency contracts.

•

Level 3—inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques, including option pricing models and discounted cash flow models. As of December 31, 2017 and 2016, the Plan did not hold any financial instruments categorized as Level 3.

Mutual funds are valued at the closing price as reported by the fund. Common stocks are valued at the closing price reported on the active markets on which the individual securities are traded.

Common collective trusts are valued using the Net Asset Value (“NAV”) provided by the trustee in order to estimate fair value. The NAV is based on the fair value of the underlying investments held by the fund less its liabilities. In the event the Plan were to initiate a full redemption of a common collective trust, the investment advisor reserves the right to temporarily delay withdrawal from the common collective trust in order to ensure that securities liquidations will be carried out in an orderly business manner. The common collective trusts have no unfunded commitments, other redemption restrictions, or redemption notice periods. The portfolios are comprised of a mix of stocks, bonds, commodities, and cash.

Financial Instruments Measured at Fair Value

December 31, 2017

Level 1

Level 2

Total

Mutual funds

518,153,347

Microsoft Common Stock

1,526,182,502

Separately managed accounts:

Common stock

3,071,524,082

Mutual funds

770,123,633

Other

180,535,880

19,112,205

199,648,085

Brokerage accounts

790,232,921

27,124,808

817,357,729

Total

6,086,628,732

816,360,646

6,902,989,378

Common collective trusts measured at NAV

13,026,253,235

Total Investments

19,929,242,613


December 31, 2016	Level 1		Level 2		Total


Mutual funds	$	488,924,978	$	0	$	488,924,978
Microsoft Common Stock		1,204,026,250		0		1,204,026,250
Separately managed accounts:
Common stock		2,495,268,783		0		2,495,268,783
Mutual funds		0		655,823,789		655,823,789
Other		84,720,553		6,696,097		91,416,650
Brokerage accounts		611,586,661		13,122,141		624,708,802

Total	$	4,884,527,225	$	675,642,027		5,560,169,252

Common collective trusts measured at NAV						9,948,329,131

Total Investments					$	15,508,498,383

The significance of transfers between levels is evaluated based upon the nature of the financial instrument and the size of the transfer relative to total net assets available for benefits. No significant transfers occurred between Level 1 and Level 2 for the years ended December 31, 2017 and 2016.

NOTE 6 — DERIVATIVES

Investment managers acting under the Plan use derivative instruments to manage risks related to foreign currencies and interest rates, to enhance investment returns for the Plan, and to facilitate Plan portfolio diversification. The Plan’s derivatives consisted of over-the-counter foreign exchange forward contracts and exchange-traded futures contracts, as well as put and call options, for which no hedge accounting treatment is applied. The related notional amounts, gross fair values, and amounts recognized in earnings were immaterial as of and for the years ended December 31, 2017 and 2016. These derivative instruments are a component of the “Other” caption of separately managed accounts in Note 5—Financial Instruments.

NOTE 7 — RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500

The following is a reconciliation of net assets available for benefits per the financial statements to net assets per the Form 5500, which is the annual return/report for the Plan:



December 31,	2017			2016

Net assets available for benefits per the financial statements	$	20,057,431,975		$	15,634,418,021
Less: benefits payable		(2,060,167	)		(1,847,667	)

Net assets per the Form 5500	$	20,055,371,808		$	15,632,570,354

The following is a reconciliation of benefits paid to participants per the financial statements to the Form 5500:



Year Ended December 31,	2017		2016

Benefits paid to participants per the financial statements	$	833,584,671	$	728,779,614
Plus: increase (decrease) in benefits payable at year end		212,500		(1,046,023	)

Benefits paid to participants per the Form 5500	$	833,797,171	$	727,733,591

Benefits payable are recorded on the Form 5500 for payments to participants who requested payment by December 31, but had not been paid as of that date.

MICROSOFT CORPORATION

SAVINGS PLUS 401(k) PLAN

EMPLOYER ID 91-1144442, PLAN 001

SUPPLEMENTAL SCHEDULE OF ASSETS (HELD AT END OF YEAR)

AS OF DECEMBER 31, 2017



Identity of Issue, borrower, lessor, or similar party	Shares or Units			Cost **	Current Value
BROKERAGE ACCOUNTS
BrokerageLink **		817,357,729			$	817,357,729

COMMON COLLECTIVE TRUSTS
BlackRock LifePath Index 2020		22,590,044				344,138,354
BlackRock LifePath Index 2030		67,335,086				1,132,708,262
BlackRock LifePath Index 2040		85,504,328				1,558,101,941
BlackRock LifePath Index 2050		55,170,366				1,057,280,535
BlackRock LifePath Index 2060		8,139,476				104,991,131
BlackRock LifePath Index Retirement		9,577,539				135,709,853
BlackRock Short-term Investment Fund		542,721,713				542,721,713
Fidelity Contrafund Pool Class 2 *		86,553,664				1,383,127,549
Fidelity Growth Company Pool Class 2 *		97,211,962				1,850,915,760
Vanguard Russell 1000 Growth Index Trust		4,989,447				760,790,873
Vanguard Russell 1000 Value Index Trust		7,061,331				1,012,453,693
Vanguard Russell 2000 Growth Index Trust		6,568,037				954,992,604
Vanguard S&P 500 Index Trust		14,712,391				2,188,320,967

EMPLOYER STOCK
Microsoft Common Stock *		17,841,741				1,526,182,502

MUTUAL FUNDS
PIMCO All Asset All Authority		2,215,279				19,760,292
PIMCO Inflation Response Multi-Asset Response		1,641,198				14,360,485
Vanguard Short-Term Bond Index Fund (Signal)		46,631,269				484,032,570

SEPARATELY MANAGED ACCOUNTS
Artisan Mid Cap Account
Forward Currency Contract
CURRENCY CONTRACT—USD		(227,403	)			(385	)
Publicly-traded Common Stock
ACTIVISION BLIZZARD INC		80,662				5,107,518
ALBEMARLE CORP		72,768				9,306,300
ALEXION PHARMACEUTICALS INC		44,476				5,318,885
APTIV PLC		221,176				18,762,360
ATLASSIAN CORP PLC CLS A		477,082				21,716,773
BECTON DICKINSON & CO		102,323				21,903,261
BOSTON SCIENTIFIC CORP		1,040,267				25,788,219



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
BOX INC CL A		455,092			9,611,543
BWX TECHNOLOGIES INC		235,905			14,269,893
CBOE GLOBAL MARKETS INC		128,678			16,031,992
CBS CORP CL B		290,304			17,127,936
CIGNA CORP		140,734			28,581,668
CINTAS CORP		121,899			18,995,521
COHERENT INC		24,663			6,960,392
CONCHO RESOURCES INC		160,835			24,160,634
DELPHI TECHNOLOGIES PLC		89,229			4,681,846
DENTSPLY SIRONA INC		95,740			6,302,564
DEXCOM INC		99,340			5,701,123
DIAMONDBACK ENERGY INC		151,711			19,153,514
DISCOVER FIN SVCS		147,205			11,323,009
EDWARDS LIFESCIENCES CORP		148,684			16,758,174
EXPEDIA INC		99,813			11,954,603
FIDELITY NATL INFORM SVCS INC		141,880			13,349,489
FIRST REPUBLIC BANK		188,706			16,349,488
FORTUNE BRANDS HOME & SEC INC		294,614			20,163,382
GARDNER DENVER HOLDINGS INC		433,748			14,717,070
GARTNER INC		144,470			17,791,481
GENMAB AS		82,494			13,680,972
GLOBAL PAYMENTS INC		444,364			44,543,047
GUIDEWIRE SOFTWARE INC		265,147			19,689,816
HARRIS CORP		128,526			18,205,708
HUBSPOT INC		55,669			4,921,140
IHS MARKIT LTD		789,889			35,663,488
LKQ CORP		1,145,618			46,592,284
MATCH GROUP INC		203,043			6,357,276
MAXIM INTEGRATED PRODUCTS INC		226,291			11,830,493
MONSTER BEVERAGE CORP		280,389			17,745,820
MOTOROLA SOLUTIONS INC		159,701			14,427,388
NEUROCRINE BIOSCIENCES INC		65,215			5,060,032
PROGRESSIVE CORP OHIO		606,840			34,177,229
PROOFPOINT INC		177,068			15,725,409
REGENERON PHARMACEUTICALS INC		26,560			9,985,498
ROPER TECHNOLOGIES INC		74,524			19,301,716
S&P GLOBAL INC		196,640			33,310,816
SEALED AIR CORP		86,716			4,275,099
SKECHERS USA INC CL A		131,649			4,981,598
SMITH (AO) CORP		136,508			8,365,210
STANLEY BLACK & DECKER INC		29,181			4,951,724
SVB FINL GROUP		64,537			15,086,814
TABLEAU SOFTWARE INC CL A		305,097			21,112,712
TD AMERITRADE HOLDING CORP		252,923			12,931,953
TRANSUNION		275,105			15,119,771
TREASURY WINE ESTATES LTD		1,233,492			15,360,417
VANTIV INC		232,774			17,120,528
VEEVA SYS INC CL A		354,810			19,613,897
WASTE CONNECTIONS INC (US)		272,427			19,325,971



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
WAYFAIR INC		98,294			7,890,059
WEST PHARMACEUTICAL SVCS INC		75,422			7,441,889
WESTINGHOUSE AIR BRAKE TEC CRP		160,466			13,066,746
WORKDAY INC CL A		77,463			7,881,086
ZALANDO SE		169,282			8,960,330
ZYNGA INC		774,475			3,097,900
STIFS and Money Markets
SSBK GOVT STIF FUND		23,782,576			23,782,575

Artisan Mid Cap Account Total					983,472,664

DFA Small Mid Value Account
Currency
CANADIAN DOLLAR		2,242			1,783
Publicly-traded Common Stock
1 800 FLOWERS.COM INC CL A		20,105			215,124
AAR CORP		16,180			635,712
AARONS INC A		27,379			1,091,053
ABERCROMBIE & FITCH CO CL A		28,111			489,975
ABM INDUSTRIES INC		25,672			968,348
ACACIA RESEARCH—ACACIA TECH		12,653			51,245
ACADIA HEALTHCARE CO INC		31,984			1,043,638
ACCESS NATIONAL CORP		1,141			31,765
ACCO BRANDS CORP		41,783			509,753
ACETO CORP		12,903			133,288
ACHILLION PHARMACEUTICALS INC		47,925			138,024
ACORDA THERAPEUTICS INC		25,629			549,742
ACTUA CORP		28,871			450,388
ACTUANT CORP CL A		17,553			444,091
ACUSHNET HOLDINGS CORP		2,968			62,565
ACXIOM CORP		56,949			1,569,514
ADAMS RESOURCES AND ENERGY INC		330			14,355
ADDUS HOMECARE CORP		10,753			374,204
ADIENT PLC		8,589			675,954
ADTALEM GLOBAL EDUCATION INC		32,464			1,365,111
ADTRAN INC		45,467			879,786
ADVANCE AUTO PARTS INC		10,297			1,026,508
ADVERUM BIOTECHNOLOGIES INC		8,912			31,192
AECOM		125,764			4,672,133
AEGION CORP		17,837			453,595
AEROCENTURY CORP		600			9,144
AEROVIRONMENT INC		10,052			564,520
AGCO CORP		32,179			2,298,546
AGILYSYS INC		2,359			28,969
AGROFRESH SOLUTIONS INC		10,193			75,428
AH BELO CORP CL A		9,816			47,117
AIR LEASE CORP CL A		87,600			4,212,684
AIR TRANSPORT SERVICES GROUP		24,722			572,067
ALAMO GROUP INC		10,921			1,232,653



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
ALASKA AIR GROUP INC		5,016			368,726
ALASKA COMM SYS GROUP INC		8,586			23,010
ALBANY INTERNATIONAL CORP CL A		16,983			1,043,605
ALCOA CORP		26,365			1,420,283
ALEXANDER & BALDWIN INC		17,760			492,662
ALICO INC		1,964			57,938
ALLEGHENY TECHNOLOGIES INC		26,905			649,487
ALLEGIANCE BANCSHARES INC		2,750			103,538
ALLIANCE ONE INTERNATIONAL INC		6,107			80,918
ALLIED MOTION TECH INC		915			30,277
ALLSCRIPTS HLTHCARE SOLS INC		145,967			2,123,820
ALMOST FAMILY INC		12,943			716,395
ALPHA & OMEGA SEMICNDTR LTD		10,198			166,839
AMAG PHARMACEUTICALS INC		478			6,334
AMBAC FINANCIAL GROUP INC		9,710			155,166
AMC ENTERTAINMENT HLDS CL A		17,168			259,237
AMERCO INC		6,559			2,478,712
AMERESCO INC-CL A		6,876			59,134
AMERICAN AXLE & MFG HLDGS INC		64,142			1,092,338
AMERICAN EAGLE OUTFITTERS INC		160,414			3,015,783
AMERICAN EQY INVT LIFE HLD CO		41,271			1,268,258
AMERICAN NATIONAL INSURANCE		4,319			553,912
AMERICAN NATL BANKSHARES INC		3,317			127,041
AMERICAN PUBLIC EDUCATION INC		8,281			207,439
AMERICAN RAILCAR INDS INC		2,712			112,928
AMERICAN SOFTWARE INC CL A		1,623			18,875
AMERICAN SUPERCONDUCTOR CORP		3,900			14,157
AMERICAN VANGUARD CORP		13,930			273,725
AMERICAS CAR MART INC		6,477			289,198
AMERIS BANCORP		5,793			279,223
AMERISAFE INC		1,363			83,961
AMKOR TECHNOLOGY INC		146,038			1,467,682
AMPCO-PITTSBURG CORP		5,574			69,118
AMPHASTAR PHARMACEUTICALS INC		41,793			804,097
AMTECH SYSTEMS INC		6,260			63,038
AMTRUST FINANCIAL SERVICES INC		44,557			448,689
ANALOGIC CORP		5,289			442,954
ANDERSONS INC		24,603			766,383
ANGIODYNAMICS INC		22,392			372,379
ANI PHARMACEUTICALS INC		1,466			94,484
ANIKA THERAPEUTICS INC		6,766			364,755
ANIXTER INTL INC		16,097			1,223,372
ANTERO RES CORP		130,836			2,485,884
APOGEE ENTERPRISES INC		10,284			470,287
APPLIED GENETIC TECHNO CORP		2,874			10,346
APPLIED INDUSTRIAL TECH INC		1,401			95,408
APPLIED OPTOELECTRONICS INC		2,233			84,452
APTEVO THERAPEUTICS INC W/I		15,529			65,843
ARC DOCUMENT SOLUTIONS INC		26,612			67,861



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
ARCBEST CORP		11,050			395,038
ARCH COAL INC CL A		7,044			656,219
ARCHROCK INC		33,044			346,962
ARDELYX INC		6,044			39,890
ARDMORE SHIPPING CORP		4,869			38,952
ARGAN INC		5,732			257,940
ARGO GROUP INTL		17,972			1,107,974
ARMSTRONG FLOORING INC		10,516			177,931
AROTECH CORP		13,694			48,614
ARRIS INTERNATIONAL PLC		67,900			1,744,351
ARROW ELECTRONICS INC		76,029			6,113,492
ARROW FINANCIAL CORP		5,938			201,595
ASCENA RETAIL GROUP INC		98,994			232,636
ASCENT CAPITAL GROUP INC		7,319			84,095
ASHLAND GLOBAL HOLDINGS INC		22,816			1,624,499
ASPEN INSURANCE HLDGS LTD		39,531			1,604,959
ASSOCIATED BANC CORP		113,900			2,893,060
ASSURANT INC		42,395			4,275,112
ASSURED GUARANTY LTD		52,711			1,785,322
ASTEC INDUSTRIES INC		21,286			1,245,231
ASTRONICS CORP		19,804			821,272
ASURE SOFTWARE INC		4,646			65,602
AT HOME GROUP INC		596			18,112
ATLANTIC CAPITAL BANCSHARES IN		4,798			84,445
ATLANTIC TELE-NETWORK INC		5,468			302,162
ATLAS AIR WORLD		21,523			1,262,324
ATLAS FINANCIAL HOLDINGS INC		1,624			33,373
AUTONATION INC		56,916			2,921,498
AV HOMES INC		5,318			88,545
AVIAT NETWORKS INC		2,296			34,830
AVNET INC		104,478			4,139,418
AVX CORP		38,175			660,428
AWARE INC MASS		5,120			23,040
AXCELIS TECHNOLOGIES INC		16,562			475,329
AXIS CAPITAL HOLDINGS LTD		32,912			1,654,157
AXT INC		24,878			216,439
AZZ INC		7,958			406,654
B&G FOODS INC		6,144			215,962
BABCOCK &WILCOX ENTERPR INC		26,385			149,867
BALDWIN & LYONS CL B		2,710			64,905
BALLANTYNE STRONG INC		1,527			7,101
BANC OF CALIFORNIA INC		18,068			373,104
BANCFIRST CORP		7,276			372,167
BANCORP INC DEL		44,441			439,077
BANCORPSOUTH BANK		25,103			789,489
BANK MARIN BANCORP		1,168			79,424
BANK MUTUAL CORP		18,700			199,155
BANKFINANCIAL CORP		1,100			16,874
BANKUNITED INC		13,967			568,736



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
BANNER CORP		20,197			1,113,259
BAR HARBOR BANKSHARES		976			26,362
BARNES & NOBLE EDUCATION INC		25,234			207,928
BARNES & NOBLE INC		29,645			198,622
BARNES GROUP INC		20,169			1,276,093
BASIC ENERGY SERVICES INC		9,644			226,345
BASSETT FURNITURE INDS INC		1,148			43,165
BBX CAPITAL CORP A		3,342			26,636
BCB BANCORP INC		1,000			14,500
BEACON ROOFING SUPPLY INC		14,531			926,497
BED BATH & BEYOND INC		45,379			997,884
BEL FUSE INC NV CL B		4,882			122,904
BELDEN INC		3,357			259,060
BELMOND LTD CL A		29,035			355,679
BEMIS INC		872			41,673
BENCHMARK ELECTRONICS INC		17,175			499,793
BENEFICIAL BANCORP INC		24,108			396,577
BERKSHIRE HILLS BANCORP INC		16,960			620,736
BIG 5 SPORTING GOODS CORP		13,448			102,205
BIGLARI HLDGS INC		322			133,437
BILL BARRETT CORP		51,730			265,375
BIOSCRIP INC		3,300			9,603
BJ’S RESTAURANTS INC		3,776			137,446
BLACK BOX CORPORATION		14,093			50,030
BLACKHAWK NETWORK HLDG INC		25,904			923,478
BLUCORA INC		25,203			556,986
BLUE HILLS BANCORP INC		5,434			109,223
BMC STK HLDGS INC		33,431			845,804
BOB EVANS FARMS INC		2,417			190,508
BOISE CASCADE CO		8,215			327,779
BOJANGLES INC		4,388			51,778
BOK FINANCIAL COMMON NEW		7,499			692,308
BONANZA CREEK ENERGY INC		3,138			86,577
BOOT BARN HOLDINGS INC		7,611			126,419
BOSTON PRIVATE FINL HLDG INC		49,409			763,369
BOYD GAMING CORP		6,157			215,803
BRADY CORPORATION CL A		3,452			130,831
BRIDGE BANCORP INC		4,859			170,065
BRIDGEPOINT EDUCATION INC		24,045			199,574
BRIGGS & STRATTON CORP		8,095			205,370
BRISTOW GROUP INC		18,590			250,407
BROADWIND ENERGY INC		2,409			6,552
BROOKDALE SENIOR LIVING INC		73,402			711,999
BROOKLINE BANCORP INC		32,544			510,941
BROOKS AUTOMATION INC		31,177			743,571
BRYN MAWR BANK CORP		10,614			469,139
BSB BANCORP INC		433			12,665
BSQUARE CORP		6,836			31,787
BUILD A BEAR WORKSHOP INC		9,374			86,241



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
C & F FINANCIAL CORP		236			13,688
C T S CORP		4,030			103,773
CABOT CORP		10,516			647,680
CACI INTERNATIONAL INC		7,368			975,155
CAI INTERNATIONAL INC		9,925			281,076
CALATLANTIC GROUP INC		58,229			3,283,533
CALERES INC		27,400			917,352
CALGON CARBON		12,535			266,996
CALIX NETWORKS INC		25,150			149,643
CALLAWAY GOLF CO		27,812			387,421
CALLON PETROLEUM CO		67,714			822,725
CALPINE CORP		141,773			2,145,025
CAMBREX CORP		2,364			113,472
CAMDEN NATIONAL CORP		7,364			310,245
CANNAE HOLDINGS INC		8,675			147,735
CAPITAL CITY BANK GROUP INC		3,643			83,570
CAPITOL FED FINL (2ND STEP CV)		69,424			930,976
CARBO CERAMICS INC		1,684			17,143
CARDTRONICS PLC		11,952			221,351
CAREER EDUCATION CORP		13,575			163,986
CARLISLE COS INC		1,922			218,435
CAROLINA FINANCIAL CORP		3,373			125,307
CARPENTER TECHNOLOGY CORP		25,482			1,299,327
CARRIAGE SERVICES INC		8,718			224,140
CARRIZO OIL & GAS INC		1,316			28,004
CARROLS RESTAURANT GROUP INC		10,511			127,709
CARS.COM INC		28,640			825,978
CASCADIAN THERAPEUTICS INC		16,063			59,433
CATO CORP CL A		11,900			189,448
CAVCO INDUSTRIES INC		2,823			430,790
CBIZ INC		32,659			504,582
CECO ENVIRONMENTAL CORP		14,510			74,436
CELADON GRP INC		11,160			71,424
CELLDEX THERAPEUTICS INC		25,205			71,582
CENTERSTATE BANKS CORPORATION		6,101			156,979
CENTRAL EUROPEAN MEDIA CL A(US		10,746			49,969
CENTRAL GARDEN & PET CO		1,701			66,203
CENTRAL GARDEN & PET CO CL A		12,836			484,046
CENTRAL PACIFIC FINANCIAL CORP		13,924			415,353
CENTRAL VALLEY CMNTY BANCORP		1,137			22,945
CENTURY ALUMINUM COMPANY		39,444			774,680
CENTURY BANCORP INC CL A NVTG		842			65,887
CENTURY CASINOS INC		4,738			43,258
CENTURY COMMUNITIES INC		6,137			190,861
CF INDUSTRIES HOLDINGS INC		539			22,929
CHART INDUSTRIES INC		21,237			995,166
CHARTER FINANCIAL CORP		2,128			37,325
CHEFS WAREHOUSE INC		10,361			212,401
CHEMICAL FINANCIAL CORP		18,335			980,372



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
CHICAGO BRIDGE & IRON (NY REG)		9,185			148,246
CHICAGO RIVET & MACHINE CO		300			9,540
CHICOS FAS INC		55,317			487,896
CHIMERIX INC		23,842			110,388
CHRISTOPHER & BANKS CORP		6,800			8,636
CHUY’S HOLDINGS INC		4,237			118,848
CIRCOR INTERNATIONAL INC		15,023			731,320
CIRRUS LOGIC INC		1,445			74,938
CIT GROUP INC		13,328			656,137
CITI TRENDS INC		7,437			196,783
CITIZENS & NORTHERN CORP		1,167			28,008
CITY HOLDING CO		1,547			104,376
CIVEO CORP		42,900			117,117
CLEAN ENERGY FUELS CORP		46,773			94,949
CLEAN HARBORS INC		8,535			462,597
CLEARFIELD INC		900			11,025
CLEARWATER PAPER CORP		7,361			334,189
CLIFTON BANCORP INC		9,705			165,956
CLOUD PEAK ENERGY INC		62,325			277,346
CNB FINANCIAL CORP PA		3,506			91,997
CNX RESOURCES CORP		112,834			1,650,761
COBIZ FINANCIAL INC		4,773			95,412
COEUR MINING INC		26,663			199,973
COHERENT INC		1,557			439,417
COHU INC		12,478			273,892
COLFAX CORP		54,937			2,176,604
COLUMBIA BANKING SYSTEMS INC		24,822			1,078,268
COLUMBIA SPORTSWEAR CO		6,785			487,706
COLUMBUS MCKINNON CORP NY		9,770			390,605
COMMERCEHUB INC SER C		1,579			32,512
COMMERCIAL METALS CO		44,935			958,014
COMMERCIAL VEHICLE GROUP INC		14,651			156,619
COMMUNITY BANK SYSTEMS INC		14,391			773,516
COMMUNITY HEALTH SYS INC NEW		43,179			183,943
COMMUNITY TRUST BANCORP INC		4,449			209,548
COMTECH TELECOMMUNICATIONS NEW		11,781			260,596
CONMED CORP		23,144			1,179,650
CONNECTONE BANCORP INC		11,050			284,538
CONNS INC		2,532			90,013
CONSOL ENERGY INC—W/I		14,104			557,249
CONSOLIDATED COMM HLDGS INC		16,380			199,672
CONSOLIDATED TOMOKA LAND CO		1,400			88,900
CONSOLIDATED WATER CO LTD		6,600			83,160
CONSUMER PORTFOLIO SVCS INC		8,447			35,055
CONTAINER STORE GROUP INC		299			1,417
CONTANGO OIL & GAS CO		17,582			82,811
CONTROL4 CORP		8,150			242,544
CONVERGYS CORP		41,280			970,080
COOPER STANDARD HOLDING INC		5,426			664,685



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
COOPER TIRE & RUBBER COMPANY		23,810			841,684
COPA HOLDINGS SA CL A		9,080			1,217,265
CORE MOLDING TECH INC		2,250			48,825
CORE-MARK HOLDING CO INC		12,927			408,235
COSTAMARE INC		15,278			88,154
COVENANT TRANSPORT GROUP CL A		4,893			140,576
COWEN INC		12,173			166,161
CPI AEROSTRUCTURES INC		3,000			26,850
CRA INTERNATIONAL INC		4,216			189,509
CRAFT BREW ALLIANCE INC		12,121			232,723
CRAY INC		15,149			366,606
CREE INC		42,846			1,591,300
CROCS INC		24,275			306,836
CROSS COUNTRY HEALTHCARE INC		11,144			142,197
CRYOLIFE INC		14,259			273,060
CSS INDUSTRIES INC		1,967			54,742
CSW INDUSTRIALS INC W/I		2,975			136,701
CUBIC CORP		7,967			469,655
CULP INC		4,391			147,099
CURTISS WRIGHT CORPORATION		7,116			867,085
CUSTOMERS BANCORP INC		11,904			309,385
CVR ENERGY INC		2,603			96,936
CYBEROPTICS CORP		3,004			45,060
DAKTRONICS INC		23,392			213,569
DANA INC		19,414			621,442
DARLING INGREDIENTS INC		70,257			1,273,759
DAWSON GEOPHYSICAL CO		12,048			59,879
DEAN FOODS CO		37,860			437,662
DECKERS OUTDOOR CORP		10,074			808,439
DEL FRISCOS RESTAURANT GP INC		11,081			168,985
DEL TACO RESTAURANTS INC		14,080			170,650
DELEK US HOLDINGS INC		36,444			1,273,353
DENBURY RESOURCES INC		50,165			110,865
DEPOMED INC		27,004			217,382
DESTINATION MATERNITY INC		396			1,176
DESTINATION XL GROUP INC		20,171			44,376
DHI GROUP INC		34,657			65,848
DHT HOLDINGS INC		32,911			118,150
DIAMOND OFFSHORE DRILLING		43,905			816,194
DICKS SPORTING GOODS INC		22,261			639,781
DIGI INTERNATIONAL INC		16,542			157,976
DIGIRAD CORP		4,600			11,845
DILLARDS INC CL A		12,315			739,516
DIME COMMUNITY BANCSHARES INC		19,100			400,145
DINEEQUITY INC		2,488			126,216
DIODES INC		23,825			683,063
DIXIE GROUP INC		3,539			13,625
DMC GLOBAL INC		9,819			245,966
DOMTAR CORP		26,560			1,315,251



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
DONEGAL GROUP INC CL A		10,350			179,055
DORIAN LPG LTD		12,900			106,038
DOUGLAS DYNAMICS INC		2,919			110,338
DOVER MOTORSPORTS INC		4,100			7,995
DRIL-QUIP INC		21,482			1,024,691
DRIVE SHACK INC		10,911			60,338
DSP GROUP		12,470			155,875
DST SYSTEMS INC		1,328			82,429
DSW INC CL A		31,955			684,157
DUCOMMUN INC		6,929			197,130
DXP ENTERPRISES INC		4,428			130,936
DYNEGY INC NEW DEL		55,130			653,291
EAGLE BANCORP INC MD		3,026			175,205
EAGLE BULK SHIPPING INC		1,950			8,736
EASTERN CO		1,100			28,765
ECHO GLOBAL LOGISTICS INC		14,052			393,456
ECHOSTAR CORP CL A		25,330			1,517,267
ECLIPSE RESOURCES CORP		26,210			62,904
EDGEWELL PERSONAL CARE CO		5,913			351,173
EL POLLO LOCO HLDGS INC		4,528			44,827
ELECTRO SCIENTIFIC INDS INC		125,891			2,697,844
ELECTROMED INC		1,717			10,422
ELECTRONICS FOR IMAGING INC		22,132			653,558
ELLIS (PERRY) INTL INC		11,890			297,726
EMC INSURANCE GROUP INC		7,097			203,613
EMCOR GROUP INC		8,781			717,847
EMCORE CORP		6,970			44,957
EMERGENT BIOSOL		16,558			769,450
EMPLOYERS HOLDINGS INC		15,647			694,727
ENCORE CAP GROUP INC		19,250			810,425
ENCORE WIRE CORPORATION		7,480			363,902
ENDO INTERNATIONAL PLC		78,540			608,685
ENERSYS INC		7,793			542,627
ENGILITY HOLDINGS INC		15,047			426,883
ENLINK MIDSTREAM LLC		11,635			204,776
ENNIS INC		8,746			181,480
ENOVA INTL INC		22,523			342,350
ENSCO PLC CL A		119,781			707,906
ENSIGN GROUP INC		13,148			291,886
ENSTAR GROUP LTD		6,202			1,245,052
ENTEGRIS INC		20,005			609,152
ENTERCOM COMM CORP CL A		10,909			117,817
ENTERPRISE FINL SVCS CORP		4,182			188,817
ENTRAVISION COMMUN CRP CL A		10,268			73,416
ENVISION HEALTHCARE CORP		38,064			1,315,492
EPLUS INC		6,700			503,840
EQUITY BANCSHARES INC		2,580			91,358
ERA GROUP INC		8,840			95,030
ESCALADE		1,300			15,990



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
ESCO TECHNOLOGIES INC		6,262			377,286
ESPEY MFG.&ELECTRIC		272			6,518
ESSA BANCORP INC		3,403			53,325
ESSENDANT INC		17,881			165,757
ESTERLINE TECHNOLOGIES CORP		12,477			932,032
ETHAN ALLEN INTERIORS INC		5,674			162,276
EVINE LIVE INC CL A		4,996			6,994
EVOLENT HEALTH INC A		10,643			130,909
EXACTECH INC		5,654			279,590
EXLSERVICE HOLDINGS INC		3,635			219,372
EXPERI CORP		4,023			98,161
EXPRESS INC		40,339			409,441
EXTERRAN CORP		13,901			437,047
EZCORP INC CL A NON VTG		42,616			519,915
FABRINET		11,175			320,723
FARMER BROTHERS CO		4,653			149,594
FARMERS CAPITAL BANK CORP		2,025			77,963
FARMERS NATL BANC CORP		6,028			88,913
FARO TECHNOLOGIES INC		6,875			323,125
FBL FINANCIAL GROUP INC CL A		10,355			721,226
FCB FINANCIAL HLDGS INC CL A		4,581			232,715
FEDERAL AGRI MTG NON VTG CL C		3,241			253,576
FEDERAL SIGNAL CORP		13,036			261,893
FEDERATED NATIONAL HOLDING CO		7,036			116,587
FERROGLOBE REP&WARRANTY INS TR		20,872			0
FIDELITY SOUTHERN CORP		12,992			283,226
FIESTA RESTAURANT GROUP INC		8,557			162,583
FINANCIAL ENGINES INC		2,155			65,297
FINANCIAL INSTITUTIONS INC		6,581			204,669
FINISAR CORP		36,346			739,641
FINISH LINE INC CL A		20,455			297,211
FIRST AMERICAN FINANCIAL CORP		16,223			909,137
FIRST BANCORP INC ME		3,780			102,929
FIRST BANCORP NC		7,891			278,631
FIRST BANCORP PUERTO RICO		63,954			326,165
FIRST BUSEY CORP		7,721			231,167
FIRST BUSINESS FIN SVCS INC		357			7,897
FIRST CITIZEN BANCSHARES INC A		2,503			1,008,709
FIRST COMMONWEALTH FINL CORP		38,571			552,337
FIRST COMMUNITY BANCSHARES INC		7,021			201,713
FIRST CONNECTICUT BANCORP		3,428			89,642
FIRST DEFIANCE FINL CORP		4,084			212,245
FIRST FINANCIAL BANCORP		30,024			791,132
FIRST FINANCIAL INDIANA		1,588			72,016
FIRST FINANCIAL NORTWEST INC		4,521			70,121
FIRST FOUNDATION INC		5,742			106,457
FIRST HORIZON NATIONAL CORP		15,121			302,269
FIRST INTERNET BANCORP		632			24,111
FIRST INTST BANCSYST INC CL A		14,392			576,400



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
FIRST MERCHANTS CORP		12,999			546,738
FIRST MID ILL BANCSHARES INC		1,258			48,483
FIRST MIDWEST BANCORP INC DEL		42,724			1,025,803
FIRST NORTHWEST BANCORP		553			9,014
FIRST OF LONG ISLAND CORP		1,955			55,718
FIRST SOURCE CORP		3,793			187,564
FIRSTCASH INC		25,693			1,732,993
FITBIT INC CL A		37,097			211,824
FIVE STAR SENIOR LIVING INC		2,229			3,344
FLAGSTAR BANCORP INC		19,714			737,698
FLEXIBLE SOLUTIONS INTL INC		4,800			8,736
FLEXSTEEL IND		2,911			136,177
FLOTEK INDUSTRIES INC		13,270			61,838
FLUSHING FINANCIAL CORP		12,900			354,750
FNB CORP PA		60,745			839,496
FOGO DE CHAO INC		1,709			19,824
FONAR CORP		434			10,568
FOOT LOCKER INC		22,250			1,043,080
FORESTAR GROUP INC		4,358			95,876
FORMFACTOR INC		23,258			363,988
FORUM ENERGY TECHNOLOGIES INC		48,348			751,811
FORWARD AIR CORP		5,428			311,784
FOSSIL GROUP INC		10,522			81,756
FOSTER L B CO CL A		6,716			182,339
FRANCESCA’S HOLDINGS CORP		7,385			53,984
FRANKLIN ELECTRIC CO. INC.		2,667			122,415
FRANKLIN FINANCIAL NETWORK INC		4,328			147,585
FRANK’S INTERNATIONAL NV		9,240			61,446
FREDS INC CL A		18,000			72,900
FREIGHTCAR AMERICA INC		7,555			129,039
FRESH DEL MONTE PRODUCE INC		20,165			961,266
FRONTIER COMMUNICATIONS CORP		29,212			197,473
FRP HOLDINGS INC		760			33,630
FS BANCORP INC		408			22,265
FTD COS INC		12,991			93,405
FTI CONSULTING INC		17,092			734,272
FUELCELL ENERGY INC		9,790			16,643
FULLER H B CO		16,316			878,943
FULTON FINANCIAL CORP		69,784			1,249,134
FUTUREFUEL CORP		14,940			210,505
GAIN CAPITAL HOLDINGS INC		23,065			230,650
GAMESTOP CORP CL A		41,371			742,609
GANNETT CO INC NEW		44,579			516,671
GASLOG LTD		11,735			261,104
GATX CORP		7,580			471,173
GENCOR INDUSTRIES INC		2,966			49,087
GENERAL CABLE CORP DEL		3,777			111,799
GENERAL COMMUNICATIONS CL A		3,354			130,873
GENESCO INC		9,330			303,225



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
GENESEE & WYOMING INC CL A		27,390			2,156,415
GENTEX CORP		41,004			859,034
GENTHERM INC		2,317			73,565
GENWORTH FINANCIAL INC A		23,897			74,320
GEOSPACE TECHNOLOGIES CORP		5,189			67,301
GERMAN AMERICAN BANCORP INC		3,000			105,990
GIBRALTAR INDUSTRIES INC		10,725			353,925
G-III APPAREL GROUP LTD		18,293			674,829
GLATFELTER		16,763			359,399
GLOBAL EAGLE ENTERTAINMENT INC		1,935			4,431
GLOBAL INDEMNITY LTD		4,180			175,644
GMS INC		1,604			60,375
GOLD RESOURCE CORP		2,679			11,788
GOLDEN OCEAN GROUP LTD		1,900			15,485
GOLDFIELD CORP		18,894			92,581
GOODYEAR TIRE & RUBBER CO		33,962			1,097,312
GORMAN-RUPP CO		5,829			181,923
GP STRATEGIES CORP		5,344			123,981
GRAHAM CORPORATION		2,366			49,520
GRAHAM HOLDINGS CO		1,844			1,029,597
GRANITE CONSTRUCTION INC		21,102			1,338,500
GRAY TELEVISION INC		20,326			340,461
GREAT LAKES DREDGE & DOCK CORP		28,458			153,673
GREAT SOUTHERN BANCORP INC		6,087			314,394
GREAT WESTERN BANCORP INC		18,056			718,629
GREEN BANCORP INC		7,551			153,285
GREEN BRICK PARTNERS INC		3,070			34,691
GREEN DOT CORP CLASS-A		19,960			1,202,790
GREEN PLAINS INC		15,908			268,050
GREENBRIER COMPANIES INC		10,591			564,500
GREENHILL & CO INC		4,280			83,460
GREENLIGHT CAPITAL RE LTD A		15,037			302,244
GREIF INC CL A		10,414			630,880
GREIF INC CL B		369			25,590
GRIFFON CORP		10,897			221,754
GROUP 1 AUTOMOTIVE INC		9,228			654,911
GSI TECHNOLOGY INC		4,196			33,400
GUARANTY BANCORP		3,220			89,033
GUESS INC		53,162			897,375
GULF ISLAND FABRICATION INC		8,612			115,616
GULFPORT ENERGY CORP		45,592			581,754
HAEMONETICS CORP MASS		11,885			690,281
HALCON RESOURCES CORP		20,616			156,063
HALLADOR PETROLEUM CO		1,473			8,971
HALLMARK FIN SERVICES INC		2,831			29,527
HALYARD HEALTH INC		27,145			1,253,556
HAMILTON BEACH BRD HLDGS CLS A		141			3,622
HAMILTON BEACH BRD HLDGS CLS B		141			3,622
HANCOCK HOLDING CO		34,623			1,713,839



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
HANMI FINANCIAL CORPORATION		10,244			310,905
HANOVER INSURANCE GROUP INC		17,900			1,934,632
HARDINGE INC		8,519			148,401
HARMONIC INC		68,795			288,939
HARTE-HANKS INC		22,130			20,995
HARVARD BIOSCIENCES INC		12,612			41,620
HAVERTY FURNITURE COS INC		9,000			203,850
HAWAIIAN HLDGS INC		7,818			311,547
HAWAIIAN TELCOM HOLDCO INC		5,439			167,848
HAWKINS INC		2,961			104,227
HAYNES INTL INC		6,822			218,645
HCI GROUP INC		8,401			251,190
HEALTHSTREAM INC		5,224			120,988
HEARTLAND FINANCIAL USA INC		5,583			299,528
HECLA MINING CO		259,286			1,029,365
HEIDRICK & STRUGGLES INTL INC		8,975			220,336
HELEN OF TROY LTD		8,932			860,598
HELIX ENERGY SOL GRP INC		100,803			760,055
HELMERICH & PAYNE INC		33,170			2,144,109
HEMISPHERE MEDIA GRP INC		2,456			28,367
HERITAGE COMMERCE CORP		18,977			290,728
HERITAGE CRYSTAL CLEAN INC		2,983			64,880
HERITAGE FINANCIAL CORP WASH		14,586			449,249
HERITAGE INSURANCE HOLDINGS IN		6,067			109,327
HERTZ GLOBAL HOLDINGS INC		20,632			455,967
HIBBETT SPORTS INC		6,988			142,555
HILL INTL INC		5,059			27,572
HILLTOP HLDGS I		35,827			907,498
HINGHAM INSTITUTION FOR SAVING		104			21,528
HMS HOLDINGS CORP		9,732			164,957
HOLLYFRONTIER CORP		80,167			4,106,154
HOME BANCSHARES INC		13,535			314,689
HOMESTREET INC		12,030			348,269
HOMETRUST BANCSHARES INC		4,475			115,231
HOOKER FURNITURE CORP		4,681			198,708
HOPE BANCORP INC		70,553			1,287,592
HORACE MANN EDUCATORS CORP		16,151			712,259
HORIZON BANCORP INDIANA		6,576			182,813
HORIZON GLOBAL CORP		5,456			76,493
HORIZON PHARMA PLC		52,930			772,778
HORNBECK OFFSHORE SERVICES INC		7,548			23,474
HOSTESS BRANDS INC CL A		10,131			150,040
HOUGHTON MIFFLIN HARCOURT CO		17,809			165,624
HOUSTON WIRE & CABLE CO		3,800			27,360
HUB GROUP INC CL A		8,173			391,487
HUDSON TECHNOLOGIES INC		8,144			49,434
HUNTSMAN CORP		24,115			802,788
HURCO INC		2,277			96,089
HURON CONSULTING GROUP INC		9,263			374,688



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
HUTTIG BUILDING PRODUCTS INC		4,166			27,704
HYSTER-YALE MATRS		1,158			98,615
IAC/INTERACTIVECORP		975			119,223
IBERIABANK CORP		20,700			1,604,250
ICF INTERNATIONAL INC		8,555			449,138
ICONIX BRAND GROUP INC		31,626			40,798
IDT CORP CL B NEW		6,794			72,016
IES HOLDINGS INC		467			8,056
II-VI INC.		25,776			1,210,183
ILG INC		51,022			1,453,107
IMAX CORP		3,334			77,182
IMPAX LABORATORIES INC		2,344			39,028
INC RESEARCH HOLDINGS INC-A		9,457			412,325
INDEPENDENT BANK CORP MASS		5,089			355,467
INDEPENDENT BANK GROUP INC		3,846			259,990
INFINERA CORP		36,401			230,418
INFINITY PPTY & CASUALTY CORP		2,387			253,022
INGLES MARKETS INC-CL A		5,628			194,729
INNERWORKINGS INC		23,848			239,195
INNOPHOS HOLDINGS INC		6,089			284,539
INNOSPEC INC		7,739			546,373
INOVALON HOLDINGS INC CL A		4,377			65,655
INSEEGO CORP		6,241			10,048
INSIGHT ENTERPRISES INC		1,200			45,948
INSTEEL INDUSTRIES INC		8,006			226,730
INTEGER HOLDINGS CORP		12,374			560,542
INTER PARFUMS INC		4,965			215,729
INTERNAP CORP		1,174			18,444
INTERNATIONAL BANCSHARES CORP		32,952			1,308,194
INTERNATIONAL GAME TECHNGY PLC		67,476			1,788,789
INTERNATIONAL SEAWAYS INC		6,658			122,907
INTEST CORP		4,529			39,176
INTEVAC INC		10,220			70,007
INTL FCSTONE INC		6,402			272,277
INTRA-CELLULAR THERAPIES INC		9,938			143,902
INTREPID POTASH INC		35,610			169,504
INVACARE CORP		23,549			396,801
INVESTMENT TECH GROUP INC		32,035			616,674
INVESTORS BANCORP INC NEW		126,242			1,752,239
INVESTORS TITLE CO		510			101,159
IRIDIUM COMMUNICATIONS INC		28,717			338,861
ITT INC		18,044			963,008
IXYS CORP DEL		13,551			324,546
J ALEXANDERS HLDGS INC		1,100			10,670
JABIL INC		82,807			2,173,684
JACOBS ENGINEERING GROUP INC		54,093			3,567,974
JANUS HENDERSON GROUP PLC		6,736			257,719
JETBLUE AIRWAYS CORP		150,578			3,363,913
JOHNSON OUTDOORS INC CL A		453			28,127



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
JONES LANG LASALLE INC		819			121,974
K12 INC		17,599			279,824
KADANT INC		3,704			371,882
KAMAN CORP		23,213			1,365,853
KAPSTONE PAPER & PCKGING CORP		36,265			822,853
KB HOME		12,983			414,807
KBR INC		35,933			712,551
KEARNY FINANCIAL CORP		30,399			439,266
KELLY SERVICES INC CL A		18,019			491,378
KEMET CORP		9,968			150,118
KEMPER CORP		22,165			1,527,169
KENNEDY-WILSON HOLDINGS INC		19,736			342,420
KEWAUNEE SCIENTIFIC CORP		482			13,978
KEYW HOLDING CORP		12,408			72,835
KIMBALL ELECTRONICS INC		12,463			227,450
KINDRED HEALTHCARE INC		54,258			526,303
KIRBY CORP		24,109			1,610,481
KIRKLANDS INC		9,072			108,546
KLX INC		28,817			1,966,760
KNIGHT-SWIFT TRANP HOLDG CL A		5,077			221,966
KNOWLES CORP		31,919			467,933
KOHLS CORP		60,969			3,306,349
KONA GRILL INC		911			1,594
KORN/FERRY INTL		22,802			943,547
KOSMOS ENERGY LTD		3,443			23,585
KRATON CORP		10,239			493,213
KRONOS WORLDWIDE INC		1,000			25,770
KULICKE & SOFFA INDUSTRIES INC		60,333			1,468,204
KVH INDUSTRIES INC		4,416			45,706
LA QUINTA HOLDINGS INC		25,422			469,290
LA Z BOY INC		23,367			729,050
LAKELAND BANCORP INC		14,345			276,141
LAKELAND INDUSTRIES INC		2,557			37,204
LANDEC CORP		8,714			109,796
LANDMARK BANCORP INC		634			18,386
LATTICE SEMICONDUCTOR CORP		23,887			138,067
LAYNE CHRISTENSEN CO		10,179			127,746
LCNB CORPORATION		2,003			40,961
LEAF GROUP LTD		5,214			51,619
LEGACYTEXAS FINANCIAL GRP INC		39,845			1,681,857
LEGG MASON INC		50,411			2,116,254
LENDINGCLUB CORP		37,821			156,201
LHC GROUP INC		7,235			443,144
LIBBEY INC.		10,581			79,569
LIBERTY EXPEDIA HLDGS INC CL A		8,844			392,055
LIBERTY TAX INC CL A		790			8,690
LIBERTY TRIPADVISOR HOLDG A WI		23,752			223,863
LIFEPOINT HEALTH INC		16,234			808,453
LIFETIME BRANDS INC		8,088			133,452



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
LIGHTPATH TECHNOLOGIES CL A		11,419			25,350
LIMELIGHT NETWORKS INC		3,135			13,825
LIMONEIRA CO		2,703			60,547
LIQUIDITY SERVICES INC		12,535			60,795
LITHIA MOTORS INC CL A		5,631			639,625
LIVANOVA PLC		9,854			787,532
LSB INDUSTRIES INC		8,252			72,288
LSC COMMUNICATIONS INC		5,553			84,128
LSI INDUSTRIES INC		12,484			85,890
LUMINEX CORP		9,177			180,787
LYDALL INC		1,300			65,975
LYON WILLIAM HOMES CLS A		11,485			333,984
M D C HOLDINGS INC		23,568			751,348
M/I HOMES INC		19,890			684,216
MACQUARIE INFRASTRUCTURE CORP		2,092			134,306
MACYS INC		108,051			2,721,805
MAGELLAN HEALTH INC		11,627			1,122,587
MAIDEN HLDGS LTD		35,142			231,937
MAINSOURCE FINACIAL GROUP INC		8,833			320,726
MALLINCKRODT PLC		35,147			792,916
MANITOWOC CO INC		20,720			815,125
MANPOWERGROUP INC		14,538			1,833,387
MANTECH INTL CORP CL A		12,175			611,063
MARCHEX INC		12,388			40,013
MARCUS CORP		3,304			90,364
MARINEMAX INC		11,985			226,517
MARLIN BUSINESS SERVICES CORP		6,395			143,248
MARRIOTT VACATIONS WORLD		13,954			1,886,720
MARTEN TRANSPORT LTD		24,736			502,141
MASONITE INTERNATIONAL CORP		820			60,803
MASTEC INC		32,993			1,615,007
MATERION CORP		16,597			806,614
MATRIX SERVICE CO		13,883			247,117
MATSON INC		16,984			506,803
MATTHEWS INTL CORP CL A		5,191			274,085
MAXAR TECHNOLOGIES LTD(US)		6,059			389,715
MB FINANCIAL INC		20,038			892,092
MBIA INC		47,390			346,895
MBT FINANCIAL CORP		5,110			54,166
MCCLATCHY COMPANY CL A		1,642			14,663
MCDERMOTT INTL INC		114,935			756,272
MCEWEN MINING INC		24,025			54,777
MCGRATH RENTCORP		8,138			382,323
MEDNAX INC		20,401			1,090,229
MEET GROUP INC/THE		38,186			107,685
MELINTA THERAPEUTICS INC		4,779			75,508
MERCANTILE BANK CORP		4,609			163,020
MERCER INTERNATIONAL INC		20,759			296,854
MERCURY SYSTEMS INC		12,763			655,380



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
MEREDITH CORP.		12,781			844,185
MERIDIAN BANCORP INC		8,915			183,649
MERIT MEDICAL SYSTEMS INC		17,650			762,480
MERITAGE HOMES CORP		15,110			773,632
MERRIMACK PHARMACEUTICALS INC		5,041			51,670
META FINL GROUP INC		3,686			341,508
METHODE ELECTRONICS INC		2,160			86,616
MICROSEMI CORP		2,909			150,250
MICROSTRATEGY INC CL A		287			37,683
MIDLAND STATES BANCORP INC		3,858			125,308
MIDSOUTH BANCORP INC		5,159			68,357
MIDWESTONE FINANCIAL GRP INC		1,788			59,952
MILACRON HOLDINGS CORP		2,718			52,023
MILLER INDUSTRIES INC TENN		5,750			148,350
MINERALS TECHNOLOGIES INC		11,642			801,552
MINERVA NEUROSCIENCES INC		1,500			9,075
MIRATI THERAPEUTICS INC		5,073			92,582
MISTRAS GROUP INC		8,277			194,261
MITCHAM INDUSTRIES INC		900			2,853
MKS INSTRUMENTS INC		13,771			1,301,360
MOBILE MINI INC		13,191			455,090
MODINE MANUFACTURING CO		18,994			383,679
MODUSLINK GLOBAL SOLUTIO INC		9,387			23,374
MOLINA HEALTHCARE INC		9,341			716,268
MONARCH CASINO & RESORT INC		1,818			81,483
MONOTYPE IMAGING HLDGS INC		6,340			152,794
MONRO INC		1,183			67,372
MOOG INC CL A		12,006			1,042,721
MOSAIC CO NEW		82,228			2,109,970
MOTORCAR PARTS OF AMERICA INC		8,082			201,969
MOVADO GROUP INC		919			29,592
MRC GLOBAL INC		6,594			111,570
MTS SYSTEMS CORP		3,325			178,553
MURPHY OIL CORP		83,015			2,577,616
MYERS INDUSTRIES		4,483			87,419
MYR GROUP INC/DELAWARE		8,332			297,702
MYRIAD GENETICS INC		4,657			159,945
NABORS INDUSTRIES LTD		125,388			856,400
NACCO INDUSTRIES INC CL A		141			5,309
NANOMETRICS INC		11,515			286,954
NAPCO SECURITY TECHNOLOGIES IN		4,193			36,689
NATIONAL BK HLDGS CORP		12,758			413,742
NATIONAL COMMERCE CORP		2,846			114,552
NATIONAL GEN HLDGS CORP		21,050			413,422
NATIONAL HEALTHCARE CORP		2,894			176,360
NATIONAL PRESTO INDS		1,194			118,743
NATIONAL WESTN LIFE GRP INC- A		645			213,508
NATIONSTAR MORTGAGE HLDGS INC		5,737			106,135
NATURAL ALTERNATIVES INTL INC		1,498			15,467



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
NATURAL GAS SERVICES GROUP		7,953			208,369
NATURAL GROCERS VIT GROC INC		7,206			64,350
NATURES SUNSHINE PRODUCTS INC		1,481			17,106
NATUS MEDICAL INC		5,305			202,651
NAUTILUS INC		6,485			86,575
NAVIENT CORP		116,699			1,554,431
NAVIGANT CONSULTING INC		17,971			348,817
NAVIGATORS GROUP INC		13,339			649,609
NBT BANCORP INC		6,882			253,258
NELNET INC CL A		26,041			1,426,526
NEOPHOTONICS CO		25,435			167,362
NETGEAR INC		28,237			1,658,924
NETSCOUT SYSTEMS INC		20,766			632,325
NETWORK-1 TECHNOLOGIES INC		4,399			10,558
NEUROTROPE INC		1,742			12,264
NEW HOME CO INC		3,472			43,504
NEW MEDIA INVSTMNT GRP INC		22,487			377,332
NEW YORK COMMUNITY BANCORP INC		124,294			1,618,308
NEW YORK TIMES CO CL A		24,482			452,917
NEWPARK RESOURCES INC		73,777			634,482
NEWS CORP NEW CL A		30,658			496,966
NEWS CORP NEW CL B		11,651			193,407
NEWSTAR FINANCIAL INC RT CVR		16,905			9,129
NEXEO SOLUTIONS INC		1,864			16,962
NEXSTAR MEDIA GROUP INC A		10,366			810,621
NEXSTAR MEDIA GROUP INC A CVR		6,927			0
NICOLET BANKSHARES INC		723			39,577
NL INDUSTRIES		6,410			91,343
NMI HOLDINGS INC		16,614			282,438
NN INC		13,869			382,784
NOBLE CORP PLC		105,580			477,222
NORDIC AMERICAN OFFSHORE LTD		150			180
NORTHEAST BANCORP (NEW)		1,048			24,261
NORTHFIELD BANCORP INC NEW		25,298			432,090
NORTHRIM BANCORP INC		3,320			112,382
NORTHWEST BANCSHARES INC		44,326			741,574
NORTHWEST PIPE CO		7,987			152,871
NOVANTA INC		6,523			326,150
NOW INC		39,037			430,578
NRG ENERGY INC		42,064			1,197,983
NUVECTRA CORP		6,722			52,163
NV5 GLOBAL INC		3,415			184,922
OASIS PETROLEUM INC		112,181			943,442
OCEANEERING INTERNATIONAL INC		42,100			889,994
OCEANFIRST FINANCIAL CORP		4,452			116,865
OCWEN FINANCIAL CORP		40,198			125,820
OFFICE DEPOT INC		191,074			676,402
OFG BANCORP		23,444			220,374
OIL STATES INTERNATIONAL INC		28,277			800,239



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
OIL-DRI CORP OF AMERICA		943			39,135
OLD LINE BANCSHARES INC		2,056			60,529
OLD NATIONAL BANCORP (IND)		66,833			1,166,236
OLD REPUBLIC INTL CORP		98,598			2,108,025
OLD SECOND BANCORP		6,754			92,192
OLIN CORP		37,644			1,339,374
OLYMPIC STEEL INC		4,828			103,754
ON ASSIGNMENT INC		16,612			1,067,653
ON DECK CAPITAL INC		14,601			83,810
ON SEMICONDUCTOR CORP		2,652			55,533
ONEMAIN HOLDINGS INC		11,084			288,073
OPHTHOTECH CORP		1,798			5,610
OPPENHEIMER HLDGS CL A NON-VTG		3,813			102,188
OPUS BANK		7,331			200,136
ORASURE TECHNOLOGIES INC		19,166			361,471
ORBCOMM INC		23,277			236,960
ORBITAL ATK INC		4,024			529,156
ORCHIDS PAPER PRODUCTS CO		3,740			47,872
ORION GROUP HOLDINGS INC		12,325			96,505
ORITANI FINL CORP NEW		22,182			363,785
ORMAT TECHNOLOGIES INC		11,998			767,392
ORRSTOWN FINANCIAL SERVICES		535			13,509
ORTHOFIX INTL NV (NASDQ)		4,995			273,227
OSHKOSH CORP		10,223			929,168
OSI SYSTEMS INC		6,047			389,306
OTONOMY INC		12,660			70,263
OVERSEAS SHIPHLDG GRP INC NEW		17,881			48,994
OVERSTOCK.COM INC DEL		11,201			715,744
OWENS AND MINOR INC		26,420			498,810
OWENS CORNING INC		39,232			3,606,990
OXFORD INDUSTRIES		2,198			165,268
PACIFIC ETHANOL INC		15,140			68,887
PACIFIC PREMIER BANCORP INC		1,942			77,680
PACWEST BANCORP		58,011			2,923,754
PAIN THERAPEUTICS INC		1,200			4,800
PAM TRANSPORTAION		566			19,685
PANHANDLE OIL & GAS CL A		2,700			55,485
PAR PACIFIC HOLDINGS INC		1,362			26,259
PARAGON COMMERCIAL CORP		184			9,791
PARK ELECTROCHEMICAL CORP.		11,980			235,407
PARK NATIONAL CORP		2,772			288,288
PARK OHIO HLDGS CORP		4,514			207,418
PARKER DRILLING CO		66,147			66,147
PARSLEY ENERGY INC CL A		8,633			254,156
PARTY CITY HOLDCO INC		4,243			59,190
PATRIOT TRANSPORTATION HLD INC		253			4,450
PATTERSON-UTI ENERGY INC		34,923			803,578
PBF ENERGY INC CL A		58,302			2,066,806
PC CONNECTION INC		7,789			204,150



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
PCM INC		5,851			57,925
PDC ENERGY INC		30,211			1,557,075
PDF SOLUTIONS INC		5,547			87,088
PDL BIOPHARMA INC		53,732			147,226
PEABODY ENERGY CORP		333			13,110
PEAPACK GLADSTONE FINL CORP		5,522			193,380
PENN VIRGINIA CORP		2,507			98,049
PENNEY (J.C.) CO INC		87,903			277,773
PENNS WOODS BANCORP INC		331			15,418
PENSKE AUTOMOTIVE GROUP INC		31,207			1,493,255
PEOPLES BANCORP INC		6,942			226,448
PEOPLES UNITED FINANCIAL INC		134,584			2,516,721
PEOPLES UTAH BANCORP		2,565			77,720
PERCEPTRON INC		2,177			21,226
PERFICIENT INC		15,338			292,496
PERFORMANCE FOOD GROUP CO		5,406			178,939
PFENEX INC		2,500			6,650
PHH CORP		40,610			418,283
PHI INC NON VTG		6,294			72,822
PHOTRONIC INC		58,964			502,668
PICO HOLDINGS INC		11,406			145,997
PIER 1 IMPORTS INC		71,962			297,923
PINNACLE FINL PARTNERS INC		10,687			708,548
PIONEER ENERGY SVCS CORP		51,512			157,112
PIPER JAFFRAY COS		14,184			1,223,370
PLATFORM SPECIALTY PRDCTS CORP		75,863			752,561
PLEXUS CORP		13,968			848,137
POPULAR INC		36,145			1,282,786
POST HOLDINGS INC		23,539			1,864,995
POTBELLY CORP		9,645			118,634
POWELL INDUSTRIES INC		5,322			152,475
PRA GROUP INC		14,475			480,570
PREFORMED LINE PRODUCTS CO		1,451			103,094
PREMIER FINANCIAL BANCORP		1,535			30,823
PRESTIGE BRANDS HOLDINGS INC		9,964			442,501
PRIMORIS SVCS CORP		9,966			270,976
PROSPERITY BANCSHARES INC		28,305			1,983,331
PROVIDENCE SERVICE CORP		4,493			266,615
PROVIDENT FINANCIAL HLDGS INC		2,348			43,203
PROVIDENT FINANCIAL SVCS INC		26,149			705,239
PULTEGROUP INC		103,301			3,434,758
QCR HOLDINGS INC		2,373			101,683
QEP RESOURCES INC		58,781			562,534
QORVO INC		4,757			316,816
QUAD/GRAPHICS INC CL A		8,354			188,800
QUANEX BUILDING PRODUCTS		15,828			370,375
QUANTA SVCS INC		66,742			2,610,280
QUINSTREET INC		16,796			140,750
QUORUM HEALTH CORPORATION WI		14,299			89,226



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
RADIAN GROUP INC		58,253			1,200,594
RADIANT LOGISTICS INC		12,591			57,919
RALPH LAUREN CORP		6,729			697,730
RAMBUS INC		23,857			339,247
RANGE RESOURCES CORP		68,037			1,160,711
RAVEN INDUSTRIES INC		2,029			69,696
RCI HOSPITALITY HOLDINGS INC		6,809			190,516
RE/MAX HOLDINGS INC CL A		1,468			71,198
READING INTL INC CL A		7,090			118,403
REALNETWORKS INC		4,000			13,680
REALOGY HOLDINGS CORP		34,312			909,268
RED LION HOTEL CORP		6,427			63,306
RED ROBIN GOURMET BURGERS INC		7,300			411,720
REGAL BELOIT CORP		17,561			1,345,173
REGIONAL MANAGEMENT CORP		4,821			126,841
REGIS CORPORATION		14,731			226,268
RELIANCE STEEL & ALUMINUM CO		33,125			2,841,794
RENAISSANCERE HLDGS LTD		11,027			1,384,881
RENASANT CORP		15,636			639,356
RENEWABLE ENERGY GROUP INC		25,923			305,891
REPUBLIC BANCORP INC KY CL A		5,500			209,110
RESOLUTE FOREST PRODUCTS INC		17,509			193,474
RESOURCES CONNECTION INC		22,644			349,850
REVOLUTION LTG TECHNLGIES INC		1,121			3,688
REX AMERICAN RESOURCES CORP		3,086			255,490
REXNORD CORP NEW		23,580			613,552
RIBBON COMMUNICATIONS INC		21,175			163,683
RIGNET INC		2,139			31,978
RING ENERGY INC		12,680			176,252
RIVERVIEW BANCORP INC		7,537			65,346
ROADRUNNER TRANSPORTATION SYST		16,191			124,833
ROCKY BRANDS INC		3,100			58,590
ROGERS CORP		7,116			1,152,223
ROWAN COMPANIES PLC A		95,192			1,490,707
RPX CORP		26,279			353,190
RSP PERMIAN INC		50,845			2,068,375
RTI SURGICAL INC		22,608			92,693
RUBICON PROJECT INC		11,218			20,978
RUDOLPH TECHNOLOGIES INC		15,151			362,109
RUSH ENTERPRISES INC CL A		9,684			492,044
RYDER SYSTEM INC		19,200			1,616,064
S & T BANCORP		10,077			401,165
SAFETY INSURANCE GROUP INC		7,565			608,226
SAGA COMMUNICATIONS INC CL A		232			9,384
SAIA INC		3,140			222,155
SALEM MEDIA GROUP INC CL A		1,585			7,133
SANDERSON FARMS INC		10,826			1,502,432
SANDRIDGE ENERGY INC		5,978			125,956
SANDY SPRING BANCORP INC		10,645			415,368



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
SANFILIPPO (JOHN B) & SON INC.		2,117			133,900
SANMINA CORP		34,522			1,139,226
SANTANDER CONSMR USA HLDGS INC		81,392			1,515,519
SAPIENS INTL CORP NV		2,906			33,477
SCANSOURCE INC		7,758			277,736
SCHNITZER STEEL INDS INC CL A		20,710			693,785
SCHOLASTIC CORP		13,073			524,358
SCHWEITZER-MAUDUIT INTL INC		6,521			295,793
SCORPIO TANKERS INC		85,678			261,318
SCRIPPS (EW) CO CL A		25,348			396,189
SEABOARD CORP		302			1,331,820
SEACHANGE INTL INC		23,776			93,440
SEACOAST BANKING CORP FLORIDA		10,949			276,024
SEACOR HOLDINGS INC		8,531			394,303
SEACOR MARINE HOLDINGS INC		7,913			92,582
SEARS HOMETOWN&OUTLET STRS INC		3,370			8,762
SEASPINE HOLDINGS CORP		3,500			35,420
SECUREWORKS CORP		1,000			8,870
SELECT MEDICAL HLDGS CORP		49,674			876,746
SELECTIVE INSURANCE GROUP INC		22,560			1,324,272
SEMGROUP CORP-CLASS A		23,787			718,367
SENECA FOODS CORP CL A		3,741			115,036
SEQUENTIAL BRANDS GROUP INC		1,867			3,323
SHILOH INDUSTRIES		8,399			68,872
SHIP FINANCE INTL LTD (NY)		17,328			268,584
SHOE CARNIVAL		5,961			159,457
SHORE BANCSHARES INC		890			14,863
SHUTTERFLY INC		7,354			365,862
SIERRA BANCORP		5,814			154,420
SIGMA DESIGNS INC		13,954			96,980
SIGNET JEWELERS LTD (US)		17,678			999,691
SILVERBOW RESOURCES INC		719			21,369
SIMMONS 1ST NATL CORP CL A		11,086			633,011
SIMPSON MANUFACTURING CO		19,145			1,099,114
SINCLAIR BROADCAST GROUP CL A		8,020			303,557
SKECHERS USA INC CL A		11,787			446,020
SKYLINE CORP		497			6,386
SKYWEST INC		36,100			1,916,910
SM ENERGY CO		36,215			799,627
SMART & FINAL STORES INC		14,159			121,059
SNYDERS LANCE INC		3,518			176,181
SOLAREDGE TECHNOLOGIES INC		1,990			74,725
SONIC AUTOMOTIVE INC CL A		16,269			300,163
SONOCO PRODUCTS CO		2,947			156,604
SOUTH STATE CORP		7,315			637,502
SOUTHERN MISSOURI BANCORP INC		489			18,382
SOUTHERN NATL BANCORP VA INC		2,986			47,866
SOUTHSIDE BANCSHARES INC		3,356			113,030
SP PLUS CORP		8,185			303,664



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
SPARTAN MOTORS INC		19,667			309,755
SPARTANNASH CO		12,845			342,705
SPARTON CORP		616			14,205
SPECTRUM PHARMACEUTICAL INC		14,221			269,488
SPEEDWAY MOTORSPORTS		12,734			240,291
SPIRIT AIRLINES INC		22,792			1,022,221
SPOK HOLDINGS INC		8,824			138,096
SPX FLOW INC		1,997			94,957
SRC ENERGY INC		51,225			436,949
STAGE STORES INC		14,649			24,610
STANDARD MOTOR PRODUCTS INC		5,687			255,403
STANDEX INTL CORP		894			91,054
STARTEK INC		139			1,386
STATE AUTO FINANCIAL CORP		7,384			215,022
STATE BANK FINANCIAL CORP		35,833			1,069,257
STEELCASE INC CLASS A		22,876			347,715
STEIN MART INC		7,961			9,235
STEPAN CO		6,742			532,416
STERLING BANCORP/DE		37,729			928,133
STERLING CONSTRUCTION CO INC		11,732			190,997
STEVEN MADDEN LTD		1,043			48,708
STEWART INFORMATION SERVICES		11,338			479,597
STIFEL FINANCIAL CORP		12,889			767,669
STONE ENERGY CORP		1,753			56,376
STONERIDGE INC		9,029			206,403
STRATASYS LTD		8,571			171,077
STRATTEC SEC CORP		2,026			88,232
SUN BANCORP INC NJ		5,233			127,162
SUNCOKE ENERGY INC		29,499			353,693
SUNRUN INC		2,899			17,104
SUPER MICRO COMPUTER INC		18,589			388,975
SUPERIOR ENERGY SERVICES INC		73,058			703,549
SUPERIOR INDUSTRIES INTL		8,148			120,998
SUPERIOR UNIFORM GROUP INC		3,094			82,641
SUPERVALU INC		11,558			249,653
SURGERY PARTNERS INC		3,499			42,338
SURMODICS INC		1,419			39,732
SYKES ENTERPRISES INC		18,159			571,101
SYNAPTICS INC		7,837			313,010
SYNCHRONOSS TECHNOLOGIES INC		13,591			121,504
SYNNEX CORP		15,344			2,086,017
TAKE-TWO INTERACTV SOFTWR INC		1,309			143,702
TANDY LEATHER FACTORY INC		1,300			10,010
TARO PHARMACEUTICALS IND		1,200			125,652
TAYLOR MORRISON HME COR CLS A		23,908			585,029
TCF FINANCIAL CORPORATION		55,144			1,130,452
TEAM INC		10,953			163,200
TECH DATA CORP		19,415			1,902,088
TECHTARGET INC		6,082			84,661



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
TEEKAY CORP		1,238			11,538
TEEKAY TANKERS LTD CL A		24,967			34,954
TEGNA INC		85,920			1,209,754
TEJON RANCH CO		11,076			229,938
TELARIA INC		4,600			18,538
TELEDYNE TECHNOLOGIES INC		3,461			626,960
TELENAV INC		7,741			42,576
TELEPHONE & DATA SYSTEMS INC		43,409			1,206,770
TEREX CORP		5,214			251,419
TERRITORIAL BANCORP INC		4,359			134,562
TESSCO TECHNOLOGIES INC		800			16,120
TETRA TECH INC		21,061			1,014,087
TETRA TECHNOLOGIES INC		62,002			264,749
TEXTAINER GROUP HLDGS LTD		12,457			267,826
THERMON GROUP HOLDINGS INC		20,800			492,336
THIRD POINT REINSURANCE LTD		11,324			165,897
TILE SHOP HLDGS INC		6,634			63,686
TILLY’S INC		8,259			121,903
TIMBERLAND BANCORP INC		1,273			33,798
TIME INC		48,521			895,212
TIMKENSTEEL CORP		35,092			533,047
TITAN INTERNATIONAL INC		50,477			650,144
TITAN MACHINERY INC		18,134			383,897
TIVITY HEALTH INC		11,990			438,235
TIVO CORP		54,314			847,298
TOLL BROTHERS INC		100,713			4,836,238
TOMPKINS FINANCIAL CORP		700			56,945
TOOTSIE ROLL INDUSTRIES INC		878			31,959
TOPBUILD CORP		9,691			733,996
TOWER INTERNATIONAL INC		9,726			297,129
TOWNE BANK		4,016			123,492
TOWNSQUARE MEDIA INC		1,275			9,792
TRANSOCEAN LTD		68,240			728,803
TRAVELCENTERS OF AMERICA LLC		2,335			9,574
TRECORA RESOURCES		7,892			106,542
TREDEGAR CORP		9,636			185,011
TREEHOUSE FOODS INC		8,075			399,390
TRI POINTE GROUP INC		86,394			1,548,180
TRIBUNE MEDIA CO CL A		3,467			147,243
TRICO BANCSHARES		7,386			279,634
TRIMAS CORP		3,047			81,507
TRINITY INDUSTRIES INC		68,332			2,559,717
TRIPLE-S MANAGEMENT CORP CL B		11,300			280,805
TRISTATE CAPITAL HOLDINGS INC		8,607			197,961
TRITON INTERNATIONAL LTD		16,605			621,857
TRIUMPH BANCORP INC		3,804			119,826
TRIUMPH GROUP INC		18,483			502,738
TRONOX LTD CL A		21,122			433,212
TRUEBLUE INC		12,270			337,425



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
TRUSTCO BANK CORP NY		39,780			365,976
TRUSTMARK CORP		35,627			1,135,076
TTM TECHNOLOGIES INC		46,826			733,763
TUESDAY MORNING CORP		24,371			67,020
TUTOR PERINI CORP		20,867			528,978
TWIN DISC INC		4,160			110,531
UFP TECHNOLOGIES INC		847			23,547
ULTRA CLEAN HOLDINGS INC		17,389			401,512
ULTRALIFE CORP		139			910
UMPQUA HOLDINGS CORP		93,567			1,946,194
UNIFI INC		6,134			220,027
UNIFIRST CORP		3,645			601,061
UNION BANKSHARES CORP		16,961			613,479
UNIT CORP		46,689			1,027,158
UNITED BANKSHARES INC. W VA.		27,664			961,324
UNITED CMNTY FINL CORP OHIO		24,733			225,812
UNITED COMMUNITY BANKS GA		9,156			257,650
UNITED FINL BANCORP INC NEW		20,866			368,076
UNITED FIRE GROUP INC		10,489			478,089
UNITED INS HLDGS CORP		5,261			90,752
UNITED NATURAL FOODS INC		22,702			1,118,528
UNITED STATES CELLULAR CORP		10,496			394,964
UNITED STATES LIME & MIN INC		1,194			92,057
UNITED STATES STEEL CORP		55,220			1,943,192
UNITED THERAPEUTICS CORP DEL		6,240			923,208
UNIVERSAL CORP		11,207			588,368
UNIVERSAL ELECTRONICS INC		2,100			99,225
UNIVERSAL FOREST PRODUCTS INC		49,950			1,879,119
UNIVERSAL INSURANCE HLDGS INC		3,482			95,233
UNIVERSAL STAINLESS & ALLOY		3,380			72,400
UNIVERSAL TECH INST INC		5,805			13,932
UNIVEST CORP PA		8,766			245,886
URBAN OUTFITTERS		28,837			1,011,025
US FOODS HOLDING CORP		10,298			328,815
US SILICA HOLDINGS INC		12,468			405,958
USA TRUCK INC		2,797			50,710
USG CORP NEW		13,221			509,802
VALIDUS HOLDING		32,332			1,517,017
VALLEY NATL BANCORP		91,164			1,022,860
VALMONT INDUSTRIES INC		269			44,614
VASCO DATA SECURITY INTL INC		7,947			110,463
VECTRUS INC		4,208			129,817
VEECO INSTRUMENT		17,051			253,207
VERA BRADLEY INC		16,309			198,644
VERASTEM INC		7,522			23,093
VERIFONE SYSTEMS INC		29,231			517,681
VERINT SYSTEMS INC		13,027			545,180
VERITEX HOLDINGS INC		4,892			134,970
VERITIV CORP		4,500			130,050



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
VERSARTIS INC		14,387			31,651
VERSO CORP		6,102			107,212
VIAD CORP		8,470			469,238
VILLAGE SUPER MKT INC CL A NEW		4,109			94,219
VIRTUS INVESTMENT PARTNERS		1,612			185,461
VIRTUSA CORP		7,916			348,937
VISHAY INTERTECHNOLOGY INC		96,523			2,002,852
VISHAY PRECISION GROUP INC		2,304			57,946
VISTA OUTDOOR INC		22,718			331,001
VISTRA ENERGY CORP		4,911			89,970
VITAMIN SHOPPE INC		15,287			67,263
VOXX INTERNATIONAL CORP		12,828			71,837
VSE CORP		4,410			213,576
WABASH NATIONAL CORP		21,510			466,767
WADDELL & REED FINL INC CL A		7,278			162,591
WALKER & DUNLOP INC		4,998			237,405
WASHINGTON FEDERAL INC		30,378			1,040,447
WASHINGTON TR BANCORP INC		3,372			179,559
WASHINGTONFIRST BANKSHARE INC		700			23,982
WATERSTONE FINANCIAL INC		11,312			192,870
WATTS WATER TECH INC CL A		6,954			528,156
WAYSIDE TECHNOLOGY GROUP INC		800			13,360
WEIS MARKETS INC		6,256			258,936
WERNER ENTERPRISES INC		30,372			1,173,878
WESBANCO INC		17,940			729,261
WESCO AIRCRAFT HOLDINGS INC		33,456			247,574
WESCO INTERNATIONAL INC		21,373			1,456,570
WEST BANCORPORATION INC		1,884			47,383
WESTERN NEW ENGLAND BANCORP IN		13,420			146,278
WEYCO GROUP INC		39			1,159
WHITE MOUNTAINS INS GROUP LTD		764			650,378
WHITING PETROLEUM CORP		23,698			627,523
WILEY (JOHN) & SONS INC CL A		9,295			611,146
WILEY (JOHN) & SONS INC CL B		176			11,574
WILLBROS GROUP INC		29,820			42,344
WINDSTREAM HOLDINGS INC		33,087			61,211
WINNEBAGO INDUSTRIES INC		12,833			713,515
WINTRUST FINANCIAL CORP		14,653			1,206,968
WOLVERINE WORLD WIDE INC		37,794			1,204,873
WORLD ACCEPTANCE CORP		3,750			302,700
WORLD FUEL SERVICES CORP		15,794			444,443
WPX ENERGY INC		55,494			780,801
WSFS FINANCIAL CORP		9,900			473,715
XCERRA CORP		24,864			243,419
XEROX CORP		23,932			697,618
XG TECHNOLOGY INC		9,604			15,558
XO GROUP INC		7,572			139,779
XPLORE TECHNOLOGIES CORP		3,315			9,381
XPO LOGISTICS INC		25,220			2,309,900



Identity of Issue, borrower, lessor, or similar party	Shares or Units			Cost **	Current Value
YUME INC		3,945				18,857
ZAFGEN INC		9,985				46,131
ZAGG INC		8,671				159,980
ZEDGE INC CL B		1,487				4,088
ZOES KITCHEN INC		951				15,901
ZOGENIX INC		2,786				111,579
ZUMIEZ INC		21,360				444,822
ZYNGA INC		332,069				1,328,276
STIFS and Money Markets
SSBK STIF FUND		2,277,204				2,277,204

DFA Small Mid Value Account						568,248,643

PIMCO Total Return Account
Mutual Funds
HIGH YIELD PORTFOLIO INSTL CL		3,358,047				26,931,534
PIMCO ASSET BACK SECS PORT-UNL		5,330,956				67,276,668
PIMCO EMMERG MKTS FD INST CL		4,748,361				48,148,379
PIMCO INTL PORT FUND(UNLISTED)		8,036,885				60,999,959
PIMCO INV GRD CORP PORT(UNLST)		11,692,026				110,606,565
PIMCO MTG PORT INSTL CL(UNLST)		13,273,490				143,884,636
PIMCO MUNI SECTR PORT INSTL CL		1,210,067				8,688,279
PIMCO REAL RETRN BD FD INST CL		314,047				2,838,981
PIMCO SHORT TM FLT NAV PORT II		7,271,635				72,767,256
PIMCO US GOVT SECTOR PORT INST		25,266,906				227,907,493
STIFS and Money Markets
SSBK GOVT STIF FUND		805,471				805,471

PIMCO Total Return Account						770,855,221

International Growth Account
Currency
AUSTRALIAN DOLLAR CURRENCY		40				31
BRAZILIAN REAL		6,268				1,890
BRITISH POUND STERLING CURRENCY		30				40
CANADIAN DOLLAR		63,627				50,618
DANISH KRONE		791				127
EURO MONETARY UNIT.		740				888
HONG KONG DOLLAR		739				95
INDIAN RUPEE		110,179,696				1,725,872
SOUTH AFRICAN RAND CURRENCY		493				40
SOUTH KOREAN WON		118				0
SWEDISH KRONA CURRENCY		430				52
SWISS FRANC		36				37
Forward Currency Contract
CURRENCY CONTRACT—EUR		(11,768	)			274
CURRENCY CONTRACT—USD		(80,993,575	)			(1,050	)
JAPANESE YEN		23,040,821				381
Futures
MINI MSCI EMG FUT MAR18 MESH8		289				80,920



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
Publicly-traded Common Stock
ABB LTD (REG) (SWIT)		161,528			4,329,736
ADIDAS AG		14,797			2,967,611
ADVANTEST CORP		160,513			2,978,768
AIA GROUP LTD		1,341,400			11,443,239
AIER EYE HOSPITAL GROUP CO LTD		94,200			445,907
ALIBABA GROUP HLD LTD SPON ADR		102,274			17,635,106
ALPS ELECTRIC CO LTD		96,900			2,769,186
AMADEUS IT GROUP SA		40,275			2,904,753
AMERICA MOVIL SPON ADR SER L		79,200			1,358,280
ANHUI CONCH CEMENT WT 4/12/21		122,800			553,545
ARKEMA		25,330			3,086,328
ASML HOLDING NV		16,441			2,863,335
ASSA ABLOY AB SER B		175,080			3,636,873
ASTRAZENECA PLC (UK)		54,323			3,755,956
ATLAS COPCO AB SER A		200,013			8,636,321
BANCO MACRO SA SPON ADR		7,020			813,478
BANCO SANTANDER SA (SPAIN)		637,461			4,190,655
BANK OF CHINA LTD H		2,549,000			1,252,828
BANK RAKYAT INDONESIA TBK PT		6,740,000			1,808,262
BHP BILLITON PLC		410,827			8,444,974
BID CORP LTD		80,357			1,954,872
BIDVEST GROUP LTD		57,620			1,015,667
BNP PARIBAS (FRAN)		116,360			8,691,006
BRILLIANCE CH AUTO HLDG LTD		258,000			690,171
BRITISH AMERICAN TOBACCO PLC		69,205			4,688,675
BROOKFIELD ASSET INC VTG CL A		96,448			4,199,346
BUNZL PLC		132,404			3,704,016
CANADIAN NATL RAILWAY CO		59,089			4,872,375
CANADIAN NATL RAILWAY(FIL USD)		79,820			6,585,150
CATCHER TECHNOLOGY CO LTD		338,000			3,736,947
CATHAY FINANCIAL HLDG CO LTD		483,000			871,018
CCR SA		204,900			997,599
CELLNEX TELECOM SAU		134,128			3,435,930
CHINA CONSTRUCTION BANK CORP H		3,165,000			2,916,733
CHINA LODGING GROUP ADR		7,510			1,084,669
CHINA MERCHANTS BANK CO LTD H		951,000			3,785,571
CHINA MOBILE LIMITED		88,500			897,704
CHINA MOLYBDENUM CO LTD H		987,000			634,178
CHINA OVERSEAS LAND & INV LTD		340,000			1,094,479
CHINA PETROL & CHEM CORP H		1,516,000			1,111,845
CHRISTIAN HANSEN HOLDING SA		50,245			4,712,974
CIMB GROUP HOLDINGS BERHAD		713,300			1,152,701
COMMERCIAL INTL BK EGY GDR EC		29,164			126,718
COMMERCIAL INTL BK EGYPT SAE		66,508			290,645
COMMONWEALTH BK OF AUSTRALIA		140,674			8,818,190
COMPASS GROUP PLC		186,700			4,033,168
CONSTELLATION SOFTWARE INC		5,900			3,576,705
COPA HOLDINGS SA CL A		4,600			616,676



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
CREDICORP LTD (USA)		3,500			726,005
CSL LIMITED		38,412			4,234,897
CSPC PHARMACEUTICAL GROUP LTD		400,000			807,900
CTBC FIN HLD (JP)(CWT) 2/25/21		956,184			660,726
CTRIP.COM INTL LTD ADR		18,700			824,670
DAIKIN INDUSTRIES LTD		39,500			4,674,795
DAVIDE CAMPARI SPA MILANO		511,734			3,957,256
DEUTSCHE BANK AG (GERW)		170,069			3,239,409
DIAGEO PLC		385,368			14,178,300
DSV DE SAMMENSLUT VOGN		52,749			4,153,813
EISAI CO LTD		55,900			3,183,088
EMAAR PROPERTIES		473,641			894,988
ENCANA CORP		328,800			4,386,616
ESSILOR INTERNATIONAL SA(FRAN)		40,597			5,599,250
EXPERIAN PLC		161,784			3,573,558
FANUC CORPORATION		62,500			15,009,984
FERGUSON PLC		36,086			2,596,857
FIBRIA CELULOSE SA		38,300			552,487
FINECOBANK SPA		279,916			2,866,541
FIRST QUANTUM MINERALS INC		253,800			3,555,623
FIRSTRAND LIMITED		347,036			1,886,294
FOMENTO ECONO MEX(FEMSA)SP ADR		8,350			784,065
FUCHS PETROLU SE (GERW) PFD		91,108			4,837,230
GALAXY ENT GROUP LTD		340,000			2,728,582
GALP ENERGIA SGPS SA		201,026			3,696,406
GEBERIT AG (REG)		19,154			8,434,482
GENMAB AS		15,262			2,531,081
GENTING MALAYSIA BHD		495,100			688,760
GERDAU SA SPON ADR		216,900			806,868
GREE ELE (MACQ) (CWT) 10/25/19		87,200			585,653
GRUPO FINANCIERO BANORTE SAB		201,000			1,102,293
GUDANG GARAM PT(DEMAT)		104,100			642,976
HANGZHOU HIK-V DIG WT 4/16/20		231,100			1,385,183
HANS LASER (JPM)(CWT) 7/27/18		127,900			971,047
HDFC BANK LTD (DEMAT)		59,483			1,758,568
HDFC BANK LTD SPON ADR		115,548			11,747,765
HEIDELBERGCEMENT AG (GERW)		33,447			3,621,857
HENGAN INTL GRP CO LTD		418,914			4,651,413
HERO MOTOCORP LTD		44,138			2,616,995
HEXAGON AB SER B		55,905			2,800,327
HON HAI PRECISION IND CO LTD		289,000			927,387
HON HAI PRECISION WT 04/06/18		97,600			313,194
HOUSING DEV FN CORP LTD(DEMAT)		99,957			2,678,046
HOWDEN JOINERY GROUP PLC		625,940			3,944,987
HYPERA SA		61,900			671,792
HYUNDAI MOBIS		3,125			769,996
ICICI BANK LTD (DEMAT)		177,652			873,790
ICICI BANK LTD SPONS ADR		95,480			929,020
IHS MARKIT LTD		137,360			6,201,804



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
INDITEX SA		91,249			3,179,995
INFINEON TECHNOLOGIES AG		331,884			9,093,149
ING GROEP NV		146,110			2,686,627
INTERCONTINENTAL HOTELS GP PLC		168,528			10,737,522
INTERTEK GROUP PLC		137,514			9,635,989
ITAU UNIBANCO HLDG SA SPON ADR		187,900			2,442,700
ITC LTD (DEMAT)		213,198			879,141
JD.COM INC SPON ADR		18,790			778,282
JULIUS BAER GRUPPE AG		69,997			4,281,206
JUST EAT PLC		409,638			4,319,498
KASIKORNBANK PCL NVDR		176,500			1,256,459
KBC GROUPE SA		42,393			3,617,027
KEYENCE CORP		35,700			19,998,970
KINGSPAN GROUP PLC (IREL)		88,620			3,870,969
KOC HLDG AS		116,569			568,314
KOMATSU LTD		216,300			7,828,457
KONINKLIJKE PHILIPS NV		95,126			3,599,879
KWEICHOW MOU(JPM) CWT 11/19/19		11,520			1,234,903
LARGAN PREN CO LTD CWT 8/17/20		5,350			724,947
LG CHEMICAL LTD		3,800			1,441,855
LOJAS RENNER SA		89,730			960,031
LONDON STOCK EXCHANGE GRP PLC		96,826			4,958,575
LONZA GROUP AG		15,617			4,219,771
L’OREAL SA (PRIME FIDE 2018)		23,304			5,171,443
L’OREAL SA ORD		35,328			7,839,716
LUKOIL PJSC SPONS ADR		24,375			1,394,738
LVMH MOET HENNESSY LOUIS VU SE		18,236			5,369,466
MACQUARIE GROUP LTD		44,176			3,434,079
MANULIFE FINANCIAL CORP (CANA)		137,700			2,872,310
MARUTI SUZUKI INDIA LTD (LOC)		12,411			1,891,501
MELCO RESORTS & ENTERTAINM ADR		157,300			4,567,992
METROPOLITAN BANK & TRUST CO		576,660			1,169,127
MICHELIN CL B (REG)		17,851			2,560,584
MICRO FOCUS INTERNATIONAL PLC		52,916			1,802,546
MITSUBISHI UFJ FINL GRP INC		458,900			3,365,742
MONCLER SPA		77,459			2,423,854
NASPERS LTD N SHS		12,545			3,499,115
NATIONAL BANK OF GREECE SA		638,374			244,339
NAVER CORP		977			796,337
NCSOFT CORPORATION		1,138			477,110
NESTLE SA (REG)		116,051			9,980,064
NETEASE INC ADR		12,081			4,168,791
NEW ORIENTAL ED & TECH G-ADR		20,600			1,936,400
NIDEC CORP		27,200			3,816,570
NINTENDO CO LTD		11,500			4,203,994
NIPPON PROLOGIS INC		976			2,064,174
NITORI HOLDINGS CO LTD		20,400			2,908,596
NOVARTIS AG (REG)		65,996			5,580,656
NOVO-NORDISK AS CL B		229,278			12,360,548



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
ONO PHARMACEUTICAL CO LTD		145,450			3,389,853
ORIX CORP		229,700			3,882,526
ORSTED A/S		35,013			1,911,277
PARK24 CO LTD		27,200			651,062
PARTNERS GROUP HOLDING AG		4,562			3,127,319
PETROLEO BRASILEIRO SPONS ADR		152,300			1,567,167
PING AN INSURANCE CO LTD H		682,000			7,101,211
POSCO		3,307			1,030,170
POWSZECHNA KASA OSZCZ BK SA		88,619			1,128,056
POWSZECHNY ZALKAD UBEZPIEC SA		46,663			565,165
PRESIDENT CHAIN(HSBC)(CWT)9/24		60,000			574,376
PTT PCL NVDR		85,100			1,148,941
RATIONAL AG		7,137			4,600,221
RELIANCE INDUSTRIES LTD(DEMAT)		89,143			1,286,108
RELX PLC		143,676			3,373,384
RICHEMONT CIE FINANCIERE SA A		94,892			8,598,659
ROCHE HLDGS AG (GENUSSCHEINE)		47,063			11,905,208
ROTORK PLC		1,665,697			6,002,423
ROYAL DUTCH SHELL PLC CL A(NL)		124,634			4,155,027
RYANAIR HOLDINGS PLC SPON ADR		22,695			2,364,592
SAFRAN SA		58,945			6,075,998
SAMPO OYJ SER A		56,705			3,116,117
SAMSUNG ELECTRONICS CO LTD		4,885			11,661,300
SANDS CHINA LTD		1,080,000			5,577,734
SAP SE		99,961			11,208,225
SBERBANK OF RUSSIA (RUS)		288,700			1,128,247
SBERBANK-SPONSORED ADR		79,304			1,342,617
SCHINDLER HOLDING AG PART CERT		34,462			7,932,502
SHANGHAI INTL (JPM) CWT 11/19		181,000			1,252,074
SHIMANO INC		40,300			5,669,004
SHINHAN FINANCIAL GROUP CO LTD		39,441			1,825,399
SK HYNIX INC		9,479			679,371
SM INVESTMENTS CORP		46,010			910,734
SMC CORP		9,150			3,766,381
SOC QUIMICA Y MIN CH PFD B ADR		17,320			1,028,288
SONY CORP		88,400			3,987,905
SOUTHERN COPPER CORP		15,300			725,985
SPIRAX-SARCO ENGINEERING PLC		85,181			6,463,401
ST JAMES PLACE PLC		137,773			2,280,534
SUNCOR ENERGY INC		90,170			3,310,537
SUNNY OPTICAL TEC(GROUP)CO LTD		306,922			3,924,497
SUZUKI MOTOR CORP		37,400			2,168,818
SVENSKA HANDELSBANKEN SER A		453,076			6,197,063
TAIWAN SEMIC MFG CO LTD SP ADR		437,667			17,353,497
TEMENOS GROUP AG		25,023			3,209,888
TENARIS SA (ITALY)		97,919			1,546,144
TENCENT HOLDINGS LTD		360,600			18,738,821
TIM PARTICIPACOES SA SPON ADR		37,900			731,849
TORONTO-DOMINION BANK		63,059			3,694,746



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
TOTAL SA (FRAN)		108,449			5,991,492
TOTAL SA RT		108,449			80,676
TURKIYE GARANTI BANKASI AS		139,085			393,349
ULKER BISKUVI SANAYI AS		88,781			460,710
ULTRATECH CEMENT LTD		15,809			1,069,931
UNICHARM CORP		166,400			4,326,326
UNICREDIT SPA		184,125			3,441,971
UNILEVER NV CVA (BEARER)		298,393			16,811,150
UPL LTD		39,620			473,342
VAKRANGEE LTD		54,253			357,140
VALEO SA		65,518			4,895,155
VOLKSWAGEN AG PFD		22,522			4,497,982
WEIBO CORP SPON ADR		27,097			2,803,456
WIN SEMICONDUCTORS CORP		54,000			515,118
YANDEX NV CL A		139,149			4,557,130
YPF SA CL D SPONSORED ADR		37,190			852,023
YUM CHINA HOLDINGS INC		87,965			3,520,359
ZALANDO SE		87,454			4,629,061
ZHUZHOU CRRC TIMES ELECTRIC CO		130,500			849,360
STIFS and Money Markets
SSBK GOVT STIF FUND		47,243,564			47,243,564

International Growth Account					835,149,482

International Value Account
Currency
AUSTRALIAN DOLLAR CURRENCY		266,489			207,928
BRAZILIAN REAL		2,808			846
BRITISH POUND STERLING CURRENCY		150,022			202,552
CANADIAN DOLLAR		370,820			295,004
CHILEAN PESO		1,258,800			2,046
CHINESE RENMINBI		290,395			44,631
COLUMBIAN PESO		12,664,080			4,243
DANISH KRONE		7,742			1,248
EURO MONETARY UNIT.		110,608			132,713
HONG KONG DOLLAR		1,756,323			175,285
INDIAN RUPEE		96,129,873			1,505,794
ISRAELI SHEKEL		996,619			286,414
JAPANESE YEN		8,658,819			76,848
MALAYSIAN RINGGIT		10,060			2,486
MEXICAN PESO CURRENCY		17,058			868
NEW ZEALAND DOLLAR CURRENCY		8,850			6,272
NORWEGIAN KRONA		2,611,615			318,078
PHILIPPINE PESO		57,250			112
SINGAPORE DOLLAR CURRENCY		43,157			32,268
SOUTH KOREAN WON		3,716			3
SWEDISH KRONA CURRENCY		73,008			8,900
SWISS FRANC		1,322			1,357
TAIWAN DOLLAR		375,762			12,666



Identity of Issue, borrower, lessor, or similar party	Shares or Units			Cost **	Current Value
TURKISH LIRA (NEW)		18,521				4,886
UNITED ARAB EMIRATES DIRHAM		94				26
Forward Currency Contract
AUSTRALIAN DOLLAR CURRENCY		3,941				(14	)
BRITISH POUND STERLING CURRENCY		(14,501	)			(66	)
CURRENCY CONTRACT—EUR		(68,590	)			158
CURRENCY CONTRACT—USD		6,059				26
JAPANESE YEN		76,703,833				1,656
MALAYSIAN RINGGIT		46,653				86
Futures
AUDUSD CRNCY FUT MAR18 ADH8		100				15,000
C$ CURRENCY FUT MAR18 CDH8		309				71,070
EURO FX CURR FUT MAR18 ECH8		(313	)			(266,050	)
EURO STOXX 50 FUT MAR18 VGH8		(970	)			174,578
FTSE 100 IDX FUT MAR18 Z H8		(17	)			(16,526	)
MINI MSCI EAFE FUT MAR18 MFSH8		428				36,380
MINI MSCI EMG FUT MAR18 MESH8		857				239,960
S&P/TSX 60 IX FUT MAR18 PTH8		27				859
TOPIX INDX FUTR MAR18 TPH8		53				(14,111	)
Publicly-traded Common Stock
3I GROUP PLC		223,880				2,761,251
ABB LTD (REG) (SWIT)		278,465				7,464,217
ABCAM PLC		13,920				198,278
ABN AMRO GROUP NV-GDR		4,793				154,699
ADECCO GROUP AG		15,870				1,214,130
ADMIRAL GROUP PLC		2,567				69,386
AECI LTD		191,816				1,550,341
AEGON NV		20,400				130,095
AEON FINANCIAL SERVICE CO LTD		1,700				39,590
AGEAS (BELG)		9,471				462,676
AGL ENERGY LTD		76,300				1,450,226
AGRICULTURAL BANK OF CHINA H		297,000				138,372
AKATSUKI INC		5,000				294,209
AKER BP ASA		2,870				70,574
ALFRESA HOLDINGS CORP		31,200				732,961
ALLIANZ SE (REGD)		26,366				6,058,149
AMP LTD (POST RECON)		33,573				135,954
ANDRITZ AG		40,300				2,276,746
ANHEUSER-BUSCH INBEV SA/NV		9,200				1,028,027
ANTOFAGASTA PLC		66,353				900,344
AOZORA BANK LTD		1,500				58,376
AREZZO INDUSTRIA E COMERCIO SA		239,078				3,942,470
ARISTOCRAT LEISURE LTD		133,600				2,470,521
ASAHI GLASS CO LTD		8,200				355,145
ASAHI GROUP HOLDINGS LTD		39,500				1,959,663
ASR NEDERLAND NV		41,380				1,703,236
ASSICURAZIONI GENERALI SPA		13,643				248,817
ASTELLAS PHARMA INC		105,400				1,344,218
ASTM SPA		7,770				225,892



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
ATLAS COPCO AB SER B		3,460			132,696
AURELIUS EQUITY OPP SE&CO KGAA		8,510			581,603
AUSTRALIA & NZ BANKING GRP		31,103			697,466
AVIVA PLC		321,327			2,197,398
AXA SA		20,621			611,996
BABCOCK INTL GROUP PLC		216,700			2,064,134
BALKRISHNA INDUSTRIES LTD		150,224			2,809,994
BALOISE HOLDINGS AG		593			92,317
BANCO BILBAO VIZ ARGENTARIA SA		87,034			742,690
BANCO DE SABADELL SA		61,447			122,092
BANCO DO BRASIL SA		6,824			65,461
BANCO SANTANDER SA (SPAIN)		546,079			3,589,911
BANCOLOMBIA SA		109,939			1,104,385
BANGKOK LIFE ASSURAN LTD NVDR		2,325,400			2,515,199
BANK HANDLOWY W WARSZAWIE SA		72,426			1,703,627
BANK HAPOALIM LTD (REG)		12,760			93,839
BANK LEUMI LE-ISRAEL BM		199,662			1,203,257
BANK OF CHINA HONG KONG LTD		40,500			205,277
BANK OF CHINA LTD H		850,000			417,773
BANK OF COMMUNICATIONS H		106,000			78,691
BANK OF IRELAND GROUP PLC		54,340			462,593
BANK OF KYOTO		800			41,677
BANK OF MONTREAL		6,948			556,006
BANK OF NOVA SCOTIA		43,210			2,788,540
BANK OF QUEENSLAND LTD		5,204			51,649
BANK POLSKA KASA OPIEKI		1,979			73,624
BANKIA SA		319,178			1,526,884
BANKINTER SA		8,264			78,373
BARCLAYS PLC ORD		709,878			1,946,595
BARRATT DEVELOPMENTS PLC		100,000			874,222
BASF SE		21,640			2,382,007
BAYER AG		7,432			927,398
BB SEGURIDADE PARTICIPACOES SA		8,572			73,623
BBA AVIATION PLC		295,900			1,397,084
BDO UNIBANK INC		24,950			81,812
BE SEMICOND INDUS NV (NETH)		10,860			910,953
BEIERSDORF AG		2,970			348,872
BELLWAY PLC		42,800			2,058,930
BENDIGO AND ADELAIDE BANK LTD		6,226			56,691
BHP BILLITON PL ADR (UK)		55,000			2,216,500
BLUESCOPE STEEL LTD		42,300			507,280
BNK FINANCIAL GROUP INC		4,041			35,663
BNP PARIBAS (FRAN)		24,793			1,851,806
BOLSA MEXICANA DE VALORES SA		1,198,700			2,063,623
BOUYGUES ORD		64,584			3,356,140
BP PLC		1,108,447			7,822,570
BRADESCO SA		10,577			102,227
BRADESCO SA PREF		32,829			335,010
BRITISH LAND CO PLC		62,700			585,385



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
BRP INC		25,300			936,120
BURSA MALAYSIA BHD		952,800			2,382,589
CAIXABANK SA		15,482			72,242
CALTEX AUSTRALIA LTD		3,400			90,330
CANADIAN IMP BK OF COMMERCE		13,016			1,268,879
CANON INC		84,500			3,149,767
CARNIVAL PLC		31,030			2,049,511
CASINO GUICHARD PERRACHON ORD		3,270			198,373
CATHAY FINANCIAL HLDG CO LTD		92,000			165,908
CENTURY PACIFIC FOOD INC		7,033,719			2,275,452
CERVECERIAS UNIDAS SA CIA		128,481			1,922,831
CHANG HWA COMMERCIAL BANK		70,000			39,050
CHIBA BANK LTD		8,000			66,599
CHINA CINDA ASSET MGT CO LTD H		122,000			44,660
CHINA CITIC BANK CORP LTD H		110,000			68,989
CHINA CONSTRUCTION BANK CORP H		890,000			820,187
CHINA DEV FIN HOLDINGS CORP		178,000			60,899
CHINA EVERBRIGHT LTD		14,000			31,323
CHINA GALAXY SEC CO LTD H		47,500			35,019
CHINA HONGXING SPORTS LTD		3,613,000			155,331
CHINA HUARONG ASSET MANAGEMENT		90,000			42,507
CHINA LIFE INS CO LTD H		81,000			254,523
CHINA MENGNIU DAIRY CO LTD		1,393,977			4,148,290
CHINA MERCHANTS BANK CO LTD H		43,500			173,157
CHINA MINSHENG BANK CORP H		70,000			70,154
CHINA MOBILE LIMITED		654,450			6,638,443
CHINA PACIFIC INS(GRP)CO LTD H		30,000			144,186
CHINA TAIPING INSU HLDS CO LTD		20,800			78,005
CHONG QING CHANGAN AUTO CO A		290,963			563,444
CHONG QING CHNGAN AUTO CO CL B		467,600			514,711
CHUGOKU BANK LTD		2,500			33,437
CI FINANCIAL CORP		40,987			970,710
CIA HERING SA		284,800			2,199,685
CIMB GROUP HOLDINGS BERHAD		54,800			88,557
CITIC SECURITIES CO LTD H		28,500			58,803
CK ASSET HOLDINGS LTD		167,000			1,459,915
CK HUTCHISON HOLDINGS LTD		386,000			4,846,708
CNP ASSURANCES		2,284			52,768
COCA COLA HBC AG		54,461			1,779,439
COCA-COLA ICECEK SANAYI AS		161,790			1,460,613
COMMERZBANK AG		79,500			1,192,828
COMMONWEALTH BK OF AUSTRALIA		9,213			577,520
COMPAL ELECTRONICS INC		1,015,000			728,739
CONCORDIA FINANCIAL GROUP LTD		15,000			90,526
CONTAINER CORP OF INDIA(DEMAT)		123,500			2,668,385
CONTINENTAL AG		9,492			2,563,089
COVESTRO AG		28,332			2,924,517
CREDICORP LTD (USA)		406			84,217
CREDIT AGRICOLE SA		152,861			2,531,062



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
CREDIT SAISON CO LTD		2,200			40,027
CREDIT SUISSE GROUP AG		159,040			2,839,854
CTBC FINL HLDG CO LTD		3,764,081			2,600,993
CTBC FINL HLDG CO LTD PREF		49,677			100,469
D&L INDUSTRIES INC		9,589,788			2,120,646
DAI NIPPON PRINTING CO LTD		12,300			274,328
DAI-ICHI LIFE HOLDINGS INC		95,300			1,965,629
DAIMLER AG (GERW)		73,894			6,277,250
DAIWA SECURITIES GROUP INC		18,000			112,928
DANSKE BK AS		129,970			5,060,801
DB INSURANCE CO LTD		697			46,494
DERICHEBOURG		85,092			930,314
DEUTSCHE BANK AG (GERW)		22,224			423,314
DEUTSCHE BOERSE AG		18,125			2,105,137
DEUTSCHE TELEKOM AG (REGD)		299,995			5,325,446
DEUTZ AG		12,100			110,033
DFDS AS		8,644			461,546
DIALOG SEMICONDUCTOR PLC (GER)		18,860			587,227
DIP CORP		5,700			147,312
DIRECT LINE INSURANCE GRP PLC		16,769			86,419
DNB ASA		133,961			2,481,605
DNO ASA CL A		110,234			127,545
DUNI AB		49,300			728,703
EBARA CORP		1,900			72,425
ELEMENT FLEET MANAGEMENT CORP		5,597			42,300
EMPIRE CO LTD NON-VTG CL A		71,000			1,383,286
ENCE ENERGIA Y CELULOSA SA		42,516			280,571
ENEL (ENTE NAZ ENERG ELET) SPA		1,997,020			12,292,118
ENGIE		83,940			1,443,755
ENI SPA		556,917			9,221,393
ERICSSON (LM) TELE CO CL B		508,312			3,336,861
ERSTE GROUP BANK AG		3,400			147,290
EURAZEO SE		357			32,983
EVRAZ PLC		204,200			937,382
EXOR NV		14,039			860,764
FAURECIA SA		3,840			300,082
FEDERAL BANK LTD		2,307,000			3,920,888
FIAT CHRYSLER AUTOMOBILES (IT)		148,750			2,661,102
FIAT CHRYSLER AUTOMOBILES NV		18,900			337,176
FIRST FINANCIAL HOLDING CO		113,000			74,465
FISCHER (GEORG) AG (REG)		568			750,766
FREENET AG		52,900			1,956,209
FUBON FINANCIAL HOLDING CO LTD		76,000			129,882
FUJIFILM HOLDINGS CORP		22,500			919,570
FUJITSU LTD		620,000			4,416,898
FUKUOKA FINANCIAL GROUP INC		10,000			56,179
FUYAO GLASS IND GROUP CO LTD A		476,910			2,125,578
GAZPROM PJSC SPON ADR		316,375			1,395,214
GBL (GROUPE BRUXELLES LAMB) SA		529			57,119



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
GENOMMA LAB INTERNACIONAL SA		1,380,730			1,440,945
GENTING SINGAPORE PLC(SGD)		310,500			304,127
GENWORTH MI CANADA INC		2,000			69,212
GF SECURITIES CO LTD H		19,200			38,632
GJENSIDIGE FORSIKRING ASA		2,730			51,504
GLAXOSMITHKLINE PLC		315,880			5,640,269
GN STORE NORDIC LTD		17,890			578,101
GREAT WEST LIFECO INC		3,501			97,761
GREENCORE GROUP PLC (UK)		793,800			2,461,808
GRIEG SEAFOOD ASA		100,000			879,960
GRUMA SAB CL B		110,494			1,400,949
GRUPO FIN SANTANDR MEXICO SAB		24,757			36,174
GRUPO FINANCIERO BANORTE SAB		296,593			1,626,529
H LUNDBECK AS		2,180			110,674
H2O RETAILING CORP		45,000			942,134
HACHIJUNI BANK LTD		6,100			35,027
HAIER ELECTRONICS GRP CO LTD		1,299,975			3,560,732
HAITONG SECURITIES CO LTD H		40,800			59,219
HANA FINANCIAL GROUP INC		48,435			2,259,808
HANG SENG BANK LTD		8,400			208,579
HANNOVER RUECKVERSICHERUNGS SE		17,924			2,255,991
HASEKO CORP		10,700			166,281
HAZAMA ANDO CORP		8,300			64,971
HERO MOTOCORP LTD		38,250			2,267,888
HIROSHIMA BANK		4,000			34,826
HITACHI LTD		415,000			3,233,446
HOKUHOKU FINANCIAL GROUP INC		26,200			409,713
HON HAI PRECISION IND CO LTD		232,942			747,500
HONDA MOTOR CO LTD		325,600			11,160,126
HONG LEONG BANK BHD		9,800			41,166
HONGKONG LAND HLDGS LTD		122,600			863,104
HOYA CORP		52,400			2,617,326
HSBC HOLDINGS PLC (UK REG)		456,856			4,730,424
HUA NAN FINANCIAL HLDGS CO LTD		96,000			54,202
HUATAI SECURITIES CO LTD H		16,000			31,865
HYSAN DEVELOPMENT CO LTD		201,000			1,066,378
HYUNDAI FIRE & MARINE INS CO		944			41,567
HYUNDAI MOBIS		7,000			1,724,792
IBERDROLA SA		709,695			5,500,868
IGM FINANCIAL INC		1,217			42,745
IIDA GROUP HOLDINGS CO LTD		30,500			575,216
IMERYS		21,900			2,063,773
IMPERIAL BRANDS PLC		21,225			907,279
IMPERIAL HOLDINGS LTD (SOAF)		186,073			3,942,386
INDUSTRIAL & COM BK OF CHINA H		783,000			630,381
INDUSTRIAL ALLIANCE INSURANCE		1,366			65,007
INDUSTRIAL BANK OF KOREA		3,545			54,634
INDUSTRIVARDEN AB SER C		2,190			54,062
INFOSYS LTD SPON ADR		128,500			2,084,270



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
ING GROEP NV		195,140			3,588,176
INPEX CORP		400,300			5,005,748
INTERFOR CORP		6,200			104,172
INTERNATIONAL CONS AIRLNS (SP)		75,200			652,895
INTERNATIONAL CONS AIRLNS CDI		45,300			398,163
INTESA SANPAOLO SPA		135,567			450,568
INTESA SANPAOLO SPA N/C RISP		13,226			42,212
INVESTA OFFICE FUND STPL UNITS		123,200			437,377
INVESTEC PLC (UK)		6,060			43,773
INVESTOR AB SER B		4,976			226,929
IPSOS SA		18,600			685,138
ISUZU MOTORS LTD		293,100			4,908,628
ITAU UNIBANCO HOLDING SA		17,649			226,552
ITAUSA (INVEST ITAU) PFD		44,399			144,824
ITOCHU CORP		47,100			879,089
JAFCO CO LTD		16,800			973,632
JAPAN POST BANK CO LTD		5,100			66,401
JAPAN POST HOLDINGS CO LTD		81,500			934,529
JD SPORTS FASHION PLC		135,025			612,906
JOHN WOOD GROUP PLC		110,873			973,019
JSE LIMITED		277,405			3,449,261
JULIUS BAER GRUPPE AG		11,167			683,004
JUMBO SA		110,223			1,970,541
JXTG HOLDINGS INC		253,700			1,636,919
KAJIMA CORP		88,000			846,612
KALBE FARMA PT (DEMAT)		16,349,114			2,036,484
KANSAI ELECTRIC POWER CO INC		171,000			2,094,342
KASIKORNBANK PCL (FOR)		6,000			44,001
KASIKORNBANK PCL (LOC)		7,800			57,202
KB FINANCIAL GROUP INC		4,376			259,926
KBC GROUPE SA		17,526			1,495,342
KDDI CORP		81,600			2,031,038
KERRY PROPERTIES LTD		286,500			1,288,963
KIA MOTORS CORP		58,000			1,820,354
KINGFISHER PLC		1,260,138			5,745,544
KINNEVIK AB		2,793			94,415
KOBE BUSSAN CO LTD		2,600			99,685
KONE OYJ B		39,000			2,095,442
KONINKLIJKE AHOLD DELHAIZE NV		286,854			6,310,573
KOREA INVESTMENT HLDGS CO LTD		622			40,209
KPN (KON) NV		558,327			1,948,094
KRUNG THAI BANK (LOC)		56,700			33,404
KT CORP		65,357			1,852,254
LANXESS AG		29,700			2,362,280
LEGAL & GENERAL GROUP PLC ORD		65,418			241,390
LENOVO GROUP LTD		3,544,000			2,000,428
LG UPLUS CORP		135,800			1,781,192
LIC HOUSING FINANCE (DEMAT)		258,584			2,282,457
LINDE AG (TENDER SHARES)		8,600			2,008,537



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
LLOYDS BANKING GROUP PLC		7,750,945			7,122,437
LONZA GROUP AG		9,948			2,687,986
LOOMIS AB B		31,800			1,335,871
LUFTHANSA AG (REGD)		76,920			2,835,224
M DIAS BRANCO SA		257,306			4,041,374
MACQUARIE GROUP LTD		3,530			274,409
MAGNA INTL INC		42,000			2,380,334
MAHANAGAR GAS LTD		89,150			1,528,425
MAIL.RU GROUP LTD GDR REGS		64,339			1,859,397
MAKINO MILLING MACHINE CO LTD		7,000			70,885
MALAYAN BANKING (MLAY)		42,600			103,158
MANULIFE FINANCIAL CORP (CANA)		21,180			441,798
MAPFRE SA		14,888			47,838
MAPLE LEAF FOODS INC		29,000			826,396
MARTINREA INTERNATIONAL INC		5,800			74,011
MARUBENI CORP		185,200			1,341,395
MEBUKI FINANCIAL GROUP INC		13,400			56,728
MEDIOBANCA SPA		4,940			56,072
MEGA FINANCIAL HOLDING CO LTD		128,000			103,765
MEGMILK SNOW BRAND CO LTD		18,600			550,530
METCASH LTD		363,000			883,680
METHANEX CORP		37,000			2,241,782
MICHELIN CL B (REG)		13,800			1,979,501
MINDTREE LIMITED		285,500			2,738,725
MITSUBISHI CHEMICAL HLDGS CORP		134,400			1,474,911
MITSUBISHI ELECTRIC CORP ORD		226,600			3,763,762
MITSUBISHI UFJ FINL GRP INC		536,100			3,931,955
MITSUBISHI UFJ LEA&FIN CO LTD		6,800			40,495
MITSUI CHEMICALS INC		7,600			244,509
MIXI INC		61,700			2,770,819
MIZUHO FINANCIAL GROUP INC		258,000			468,487
MORINAGA MILK IND CO LTD		20,800			941,469
MS&AD INSURANCE GRP HLDGS INC		5,300			179,403
MUNICH REINSURANCE (REG)		16,463			3,570,378
MUTHOOT FINANCE LTD		232,633			1,729,625
MYLAN NV		113,045			4,782,934
NAMPAK LTD		1,425,810			1,869,197
NATIONAL AUSTRALIA BANK LTD		28,360			654,322
NATIONAL BANK OF CANADA DTC EL		24,997			1,247,265
NATIONAL GRID PLC		258,257			3,051,348
NATIXIS		90,327			714,867
NESTLE SA (REG)		7,910			680,238
NEW CHINA LIFE INSURANCE CO H		10,000			68,349
NEW FLYER INDUSTRIES INC		4,800			206,205
NEWS CORP NEW CL A		136,200			2,207,802
NEWS CORP NEW CL B		21,485			356,651
NEXON CO LTD		58,700			1,708,773
NIPPON ELECTRIC GLASS CO LTD		17,500			667,850
NIPPON SUISAN KAISHA LTD		147,200			769,477



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
NIPPON TELEGRAPH & TELEPHONE		27,500			1,293,787
NISSHINBO HOLDINGS INC		34,500			467,553
NN GROUP NV		53,228			2,306,826
NOKIAN TYRES OYJ		57,976			2,629,463
NOMURA HOLDINGS INC		110,100			649,900
NORBORD INC		14,600			494,216
NORDEA BANK AB		32,520			393,660
NOVARTIS AG (REG)		108,730			9,194,265
OBAYASHI CORP		17,200			208,217
OIL SEARCH LTD		10,478			63,687
OKUMA CORP		1,200			79,769
OLD MUTUAL PLC (UK)		55,910			174,903
OMV AG (AUSH100)		32,797			2,078,939
OPEN HOUSE CO LTD		2,100			112,944
ORIFLAME HOLDING AG		1,690			69,696
ORIX CORP		184,700			3,121,909
OTP BANK (REG)		109,824			4,546,359
OUTOKUMPU OY CL A		33,400			310,180
OVERSEA-CHINESE BKG CORP LTD		34,100			315,899
PARGESA HOLDINGS SA		3,370			292,232
PENTA OCEAN CONSTRUCTION CO		75,600			563,603
PEOPLES INSURANCE GRP OF CH H		98,000			48,292
PERSIMMON PLC ORD		54,030			1,997,333
PEUGEOT SA		75,390			1,533,693
PICC PROPERTY & CASUALTY CO H		54,000			103,814
PLUS500 LTD		33,120			406,254
POLA ORBIS HOLDINGS INC		36,400			1,277,675
POPULAR INC		56,600			2,008,734
POSCO		9,150			2,850,334
POSTE ITALIANE SPA		7,018			52,839
POWER CORP OF CANADA SUB VTG		4,129			106,329
POWER FINANCIAL CORP		3,014			82,819
POWSZECHNY ZALKAD UBEZPIEC SA		344,332			4,170,424
PUBLIC BANK BHD (LOC) (MLAY)		13,000			66,751
PUBLICIS GROUPE SA		48,927			3,325,642
QANTAS AIRWAYS LTD		395,500			1,555,288
QBE INSURANCE GROUP LTD		423,759			3,531,213
QUALITAS CONTROLADO SAB DE CV		712,700			1,323,003
RAIFFEISEN BANK INTERNTNL AG		1,883			68,231
REDROW PLC		109,339			966,199
RENAULT SA ORD		7,760			781,272
REPSOL SA		141,791			2,508,536
RESONA HOLDINGS INC		25,200			150,540
REXEL SA		171,850			3,117,657
RHEINMETALL AG ORD		2,378			302,016
RIO TINTO PLC (REGD)		46,730			2,487,107
ROCHE HLDGS AG (GENUSSCHEINE)		13,183			3,334,814
ROUND ONE CORP		10,900			183,416
ROYAL BANK OF CANADA		39,236			3,204,117



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
ROYAL BANK OF SCOTLAND GRP PLC		738,195			2,770,754
ROYAL DUTCH SHELL PLC CL A(NL)		362,976			12,100,833
ROYAL DUTCH SHELL PLC CL A(UK)		42,260			1,415,022
ROYAL UNIBREW AS		14,696			880,618
SAINSBURY (J) PLC		936,445			3,052,120
SALMAR ASA		28,796			865,570
SAMPO OYJ SER A		4,880			268,171
SAMSUNG ELECTRONICS CO LTD		855			2,041,026
SAMSUNG LIFE INSURANCE CO LTD		846			98,679
SAMSUNG SECURITIES CO LTD		1,081			37,067
SANDFIRE RESOURCES NL		161,700			871,810
SANDS CHINA LTD		490,872			2,535,142
SANDVIK AB		34,950			612,246
SANLAM LTD		419,679			2,951,067
SANOFI		76,977			6,636,127
SANTOS LTD		160,100			680,803
SAP SE		40,585			4,550,633
SAS AB		37,900			98,410
SASOL LTD		64,000			2,214,873
SBERBANK-SPONSORED ADR		61,300			1,037,809
SBI HOLDINGS INC		2,800			58,547
SCENTRE GROUP STAPLED UNIT		1			3
SCHNEIDER ELECTRIC SE		43,000			3,655,919
SCHRODERS PLC (NEW) ORD		1,550			73,580
SCOR SE		2,075			83,517
SECURITY BANK CORP		616,679			3,099,763
SEINO HOLDINGS CO LTD		12,000			190,637
SEVEN & I HOLDINGS CO LTD		3,300			137,155
SEVENTY SEVENTH BANK		12,800			323,309
SHIN KONG FINCL HLDNGS CO LTD		123,000			43,533
SHINHAN FINANCIAL GROUP CO LTD		4,712			218,080
SHINSEI BANK LTD		2,400			41,514
SHIONOGI & CO LTD		13,700			741,326
SHIRE PLC		20,430			1,075,759
SHIZUOKA BANK LTD		6,000			61,984
SIAM COMMERCIAL BANK PCL (FOR)		478,100			2,200,522
SIAM COMMERCIAL BANK PCL (LOC)		20,900			96,195
SIEMENS AG (REGD)		20,050			2,794,220
SILTRONIC AG		10,012			1,457,165
SINGAPORE TELECOM LTD (SING)		1,338,200			3,572,002
SINOPAC HOLDINGS		148,000			48,241
SK HYNIX INC		51,656			3,702,245
SKANDINAVISKA ENSKI BK SER A		16,714			196,213
SMITH & NEPHEW PLC		5,330			92,688
SOCIETE GENERALE SA CL A		35,152			1,815,725
SOLVAY CL A		14,300			1,988,595
SOMPO HOLDINGS INC		36,600			1,417,550
SONY CORP		86,700			3,911,215
SONY FINANCIAL HOLDINGS INC		2,500			44,287



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
SPAREBANK 1 SR BK CAP CERTS		143,200			1,517,356
SSP GROUP LTD		32,600			300,622
ST GOBAIN CIE DE		86,757			4,786,306
STANDARD CHARTERED PLC (UK)		473,078			4,982,704
STANDARD LIFE ABERDEEN PLC		29,963			176,625
STANTEC INC		27,700			774,807
STAR ENTERTAINMENT GRP LTD/THE		26,800			127,137
STMICROELECTRONICS NV (ITAL)		71,490			1,561,146
STMICROELECTRONICS NV(SICOVAM)		32,370			707,067
STORA ENSO AB R 1/10 VTG(FINL)		21,516			341,287
SUMITOMO BAKELITE CO LTD		8,000			67,309
SUMITOMO HEAVY INDUSTRIES LTD		23,200			982,152
SUMITOMO MITSUI FINL GROUP INC		67,000			2,894,662
SUMITOMO MITSUI TR HLDGS INC		3,700			146,884
SUN LIFE FINANCIAL INC		6,687			275,992
SUNCORP GROUP LTD		14,608			157,975
SVENSKA HANDELSBANKEN SER A		181,380			2,480,871
SWEDBANK AB A		9,859			237,849
SWIRE PACIFIC LTD CL A		25,000			231,510
SWISS LIFE HLDGS AG (NEW)		371			131,351
SWISS RE LTD		8,565			802,049
SYMRISE AG		23,600			2,028,025
T&D HOLDINGS INC		6,400			109,455
TAISHIN FINANCIAL HLDGS CO LTD		125,000			58,356
TAIWAN SEMICONDUCT MFG CO LTD		768,000			5,941,147
TAKASHIMAYA CO LTD		30,000			315,775
TAKEDA PHARMACEUTICAL CO LTD		124,000			7,044,367
TAYLOR WIMPEY PLC		1,447,700			4,034,319
TELECOM ITALIA SPA		1,324,050			1,144,631
TELECOM ITALIA SPA RISP		246,828			176,509
TELEFONICA SA		739,614			7,210,335
TELENOR AS		3,610			77,339
TELIA CO AB (SWEDEN)		1,349,242			6,011,727
TESCO PLC		3,404,511			9,618,387
TEVA PHARMACEUTICAL IND ADR		108,400			2,054,180
THE STARS GROUP INC		43,900			1,021,539
TIGER BRANDS LTD		67,280			2,501,418
TOFAS TURK OTOMOBIL FABRIKASI		308,229			2,685,060
TOHO ZINC CO LTD		6,600			358,482
TOKIO MARINE HOLDINGS INC		136,500			6,228,059
TOKYO ELECTRIC POWER CO HOLDIN		420,600			1,664,856
TOKYO ELECTRON LTD		400			72,421
TOMY COMPANY LTD		33,000			448,689
TOPPAN PRINTING LTD		132,000			1,193,770
TORONTO-DOMINION BANK		84,619			4,957,987
TOTAL SA (FRAN)		70,920			3,918,124
TOTAL SA RT		70,920			52,758
TOTVS SA		271,127			2,443,094
TOYOTA MOTOR CORP		13,800			883,420



Identity of Issue, borrower, lessor, or similar party	Shares or Units		Cost **	Current Value
TRAVELSKY TECHNOLOGY LTD H		1,314,000			3,943,926
TRAVIS PERKINS PLC		176,757			3,739,621
TRYG AS		1,686			42,172
TUI AG (GB)		19,140			397,965
TURKIYE GARANTI BANKASI AS		28,323			80,101
TURKIYE HALK BANKASI		9,912			28,189
TURKIYE IS BANKASI AS C		22,512			41,395
UBS GROUP AG		181,523			3,341,908
UCB SA		28,639			2,274,111
ULVAC INC		900			56,712
UNICREDIT SPA		96,389			1,801,863
UNILEVER NV CVA (BEARER)		8,230			463,670
UNILEVER PLC ORD		9,570			533,053
UNIPOLSAI SPA		15,270			35,672
UNITED ARROWS LTD		4,000			162,414
UNITED OVERSEAS BANK (LOC)		447,327			8,846,536
UPM KYMMENE CORP		43,240			1,344,250
VALLOUREC SA		248,793			1,503,019
VALMET CORP		46,270			912,700
VINCI SA		19,600			2,002,478
VODAFONE GROUP PLC		991,063			3,144,497
VOLKSWAGEN AG PFD		21,790			4,351,791
VOLVO AB SER B		150,770			2,806,571
WEST FRASER TIMBER LTD		9,200			567,736
WEST JAPAN RAILWAY CO		14,500			1,058,722
WESTPAC BANKING CORP		35,452			867,186
WESTPORTS HOLDINGS BHD		3,249,454			2,970,838
WH GROUP LTD		2,145,500			2,422,075
WHARF HOLDINGS LTD		43,000			148,601
WHEELOCK & CO LTD		185,000			1,321,285
WHITEHAVEN COAL LTD		287,400			1,000,128
WILLIS TOWERS WATSON PLC		9,539			1,437,432
WILMAR INTERNATIONAL LTD		761,200			1,758,651
WOORI BANK		4,617			68,128
WORLEYPARSONS LTD		86,500			968,505
WPP PLC NEW (UK)		197,490			3,575,657
X5 RETAIL GROUP NV GDR REGS		50,809			1,919,056
XL GROUP LTD		33,000			1,160,280
YAMAGUCHI FINANCIAL GROUP INC		3,000			35,651
YA-MAN LTD		9,400			158,342
YANDEX NV CL A		106,550			3,489,513
YANGZIJIANG SHIPBLDG HLDGS LTD		241,100			264,995
YARA INTERNATIONAL ASA		50,500			2,316,926
YUANTA FINL HLDG CO LTD		133,000			61,867
YUE YUEN INDUSTRIAL HLDGS LTD		873,195			3,431,153
ZURICH INSURANCE GROUP AG		18,114			5,513,482
STIFS and Money Markets
SSBK GOVT STIF FUND		105,046,328			105,046,325
SSBK STIF FUND		1,132,508			1,132,508

Identity of Issue, borrower, lessor, or similar party

Shares or Units

Cost **

Current Value

International Value Account

883,569,790

Investments held by trustee

19,929,242,613

Participant Loans* Interest 3.25%-9.00%, maturing through March 2044

122,514,373

Total Investments

20,051,756,986

*	Party-in-interest

**	Information not presented because investments are participant directed

See accompanying Report of Independent Registered Public Accounting Firm.