FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-04985
(Exact name of registrant as specified in charter)
(Address of principal executive offices) (Zip code)
(Name and address of agent for service)
Registrant's telephone number, including area code: (954) 527-7500
Date of fiscal year end: 8/31
Date of reporting period: _05/31/10_
Item 1. Schedule of Investments.
Industry | Shares | Value | ||||||||||
Common Stocks 83.1% |
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Austria 0.9% |
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OMV AG |
Oil, Gas & Consumable Fuels | 89,020 | $ | 2,841,329 | ||||||||
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Brazil 3.7% |
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Itau Unibanco Holding SA, ADR |
Commercial Banks | 666,033 | 12,261,667 | |||||||||
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China 14.8% |
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aAluminum Corp. of China Ltd., H |
Metals & Mining | 9,792,000 | 8,350,313 | |||||||||
aBrilliance China Automotive Holdings Ltd. |
Automobiles | 32,040,000 | 10,451,762 | |||||||||
China Petroleum and Chemical Corp., H |
Oil, Gas & Consumable Fuels | 7,136,000 | 5,672,948 | |||||||||
Chiwan Wharf Holdings Ltd., B |
Transportation Infrastructure | 2,126,967 | 2,933,785 | |||||||||
Denway Motors Ltd. |
Automobiles | 22,188,730 | 9,403,936 | |||||||||
PetroChina Co. Ltd., H |
Oil, Gas & Consumable Fuels | 9,248,000 | 10,131,183 | |||||||||
Win Hanverky Holdings Ltd. |
Textiles, Apparel & Luxury Goods | 11,152,000 | 1,675,722 | |||||||||
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48,619,649 | |||||||||||
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Hong Kong 5.9% |
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Dairy Farm International Holdings Ltd. |
Food & Staples Retailing | 1,658,100 | 10,479,192 | |||||||||
Victory City International Holdings Ltd. |
Textiles, Apparel & Luxury Goods | 28,152,000 | 5,097,904 | |||||||||
VTech Holdings Ltd. |
Communications Equipment | 392,500 | 3,881,447 | |||||||||
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19,458,543 | |||||||||||
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Hungary 1.2% |
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aMOL Hungarian Oil and Gas Nyrt. |
Oil, Gas & Consumable Fuels | 45,775 | 3,756,664 | |||||||||
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India 14.2% |
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National Aluminium Co. Ltd. |
Metals & Mining | 665,030 | 5,975,445 | |||||||||
Oil & Natural Gas Corp. Ltd. |
Oil, Gas & Consumable Fuels | 270,795 | 6,817,037 | |||||||||
Peninsula Land Ltd. |
Real Estate Management & Development | 1,129,465 | 1,640,666 | |||||||||
Sesa Goa Ltd. |
Metals & Mining | 2,716,280 | 22,388,146 | |||||||||
Tata Consultancy Services Ltd. |
IT Services | 617,600 | 9,883,731 | |||||||||
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46,705,025 | |||||||||||
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Indonesia 5.9% |
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PT Bank Central Asia Tbk |
Commercial Banks | 15,134,500 | 9,154,929 | |||||||||
PT Astra International Tbk |
Automobiles | 2,195,000 | 10,323,079 | |||||||||
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19,478,008 | |||||||||||
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Mexico 2.1% |
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Wal-Mart de Mexico SAB de CV, V |
Food & Staples Retailing | 3,022,000 | 6,743,840 | |||||||||
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Pakistan 1.7% |
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aFaysal Bank Ltd. |
Commercial Banks | 10,190,739 | 1,728,359 | |||||||||
MCB Bank Ltd. |
Commercial Banks | 1,913,009 | 3,962,982 | |||||||||
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5,691,341 | |||||||||||
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Poland 0.3% |
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aPolnord SA |
Construction & Engineering | 92,806 | 1,068,879 | |||||||||
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Russia 7.7% |
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Gazprom, ADR |
Oil, Gas & Consumable Fuels | 241,722 | 4,967,387 | |||||||||
bLUKOIL Holdings, ADR |
Oil, Gas & Consumable Fuels | 101,006 | 4,833,137 | |||||||||
bLUKOIL Holdings, ADR (London Exchange) |
Oil, Gas & Consumable Fuels | 36,510 | 1,766,354 | |||||||||
Mining and Metallurgical Co. Norilsk Nickel |
Metals & Mining | 44,679 | 7,258,452 | |||||||||
Mobile TeleSystems, ADR |
Wireless Telecommunication Services | 193,250 | 3,716,198 | |||||||||
aOAO TMK |
Energy Equipment & Services | 660,934 | 2,789,343 | |||||||||
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25,330,871 | |||||||||||
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South Africa 0.2% |
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Impala Platinum Holdings Ltd. |
Metals & Mining | 18,800 | 468,355 | |||||||||
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South Korea 4.9% |
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Avista Inc. |
Textiles, Apparel & Luxury Goods | 347,028 | 1,221,111 |
Industry | Shares | Value | ||||||||||
Hyundai Development Co. |
Construction & Engineering | 165,470 | $ | 3,372,374 | ||||||||
Neopharm Co. Ltd. |
Personal Products | 302,793 | 1,538,996 | |||||||||
SK Energy Co. Ltd. |
Oil, Gas & Consumable Fuels | 109,364 | 9,870,849 | |||||||||
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16,003,330 | |||||||||||
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Taiwan 0.0%c |
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MediaTek Inc. |
Semiconductors & Semiconductor Equipment | 908 | 14,845 | |||||||||
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Thailand 9.1% |
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Amata Corp. Public Co. Ltd., fgn. |
Real Estate Management & Development | 7,206,800 | 1,529,118 | |||||||||
Hemaraj Land and Development Public Co. Ltd., fgn. |
Real Estate Management & Development | 29,653,100 | 848,013 | |||||||||
Kasikornbank Public Co. Ltd., fgn. |
Commercial Banks | 2,251,200 | 6,230,258 | |||||||||
Kiatnakin Bank Public Co. Ltd., fgn. |
Consumer Finance | 8,084,600 | 6,463,702 | |||||||||
Land and Houses Public Co. Ltd., fgn. |
Real Estate Management & Development | 8,514,132 | 1,298,588 | |||||||||
PTT Exploration and Production Public Co. Ltd., fgn. |
Oil, Gas & Consumable Fuels | 1,226,600 | 5,469,158 | |||||||||
PTT Public Co. Ltd., fgn. |
Oil, Gas & Consumable Fuels | 578,000 | 4,372,325 | |||||||||
Siam Cement Public Co. Ltd., fgn. |
Construction Materials | 415,120 | 3,497,629 | |||||||||
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29,708,791 | |||||||||||
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Turkey 8.3% |
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Akbank TAS |
Commercial Banks | 3,936,307 | 19,505,238 | |||||||||
Tupras-Turkiye Petrol Rafinerileri AS |
Oil, Gas & Consumable Fuels | 427,186 | 7,802,298 | |||||||||
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27,307,536 | |||||||||||
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United Kingdom 2.2% |
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aAnglo American PLC |
Metals & Mining | 189,200 | 7,161,726 | |||||||||
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Total Common Stocks (Cost $187,522,132) |
272,620,399 | |||||||||||
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Preferred Stocks 16.5% |
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Brazil 16.5% |
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Banco Bradesco SA, ADR, pfd. |
Commercial Banks | 686,644 | 11,219,763 | |||||||||
Petroleo Brasileiro SA, ADR, pfd. |
Oil, Gas & Consumable Fuels | 670,320 | 20,759,810 | |||||||||
Vale SA, ADR, pfd., A |
Metals & Mining | 966,300 | 22,273,215 | |||||||||
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Total Preferred Stocks (Cost $18,224,142) |
54,252,788 | |||||||||||
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Total Investments before Short Term Investments (Cost $205,746,274) |
326,873,187 | |||||||||||
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Short Term Investments (Cost $1,652,275) 0.5% |
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Money Market Funds 0.5% |
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United States 0.5% |
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dInstitutional Fiduciary Trust Money Market Portfolio, 0.00% |
1,652,275 | 1,652,275 | ||||||||||
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Total Investments (Cost $207,398,549) 100.1% |
328,525,462 | |||||||||||
Other Assets, less Liabilities (0.1)% |
(371,072 | ) | ||||||||||
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Net Assets 100.0% |
$ | 328,154,390 | ||||||||||
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a | Non-income producing. | |
b | See Note 4 regarding other considerations. | |
c | Rounds to less than 0.1% of net assets. | |
d | The Institutional Fiduciary Trust Money Market Portfolio is managed by an affiliate of the Funds investment manager. The rate shown is the annualized seven-day yield at period end. |
Cost of investments |
$ | 208,599,861 | ||
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Unrealized appreciation |
$ | 143,136,489 | ||
Unrealized depreciation |
(23,210,888 | ) | ||
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Net unrealized appreciation (depreciation) |
$ | 119,925,601 | ||
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| Level 1 quoted prices in active markets for identical securities | ||
| Level 2 other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speed, credit risk, etc.) | ||
| Level 3 significant unobservable inputs (including the Funds own assumptions in determining the fair value of investments) |
Item 2. Controls and Procedures.
(a) Evaluation of Disclosure Controls and Procedures. The Registrant maintains disclosure controls and procedures that are designed to ensure that information required to be disclosed in the Registrant’s filings under the Securities Exchange Act of 1934 and the Investment Company Act of 1940 is recorded, processed, summarized and reported within the periods specified in the rules and forms of the Securities and Exchange Commission. Such information is accumulated and communicated to the Registrant’s management, including its principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure. The Registrant’s management, including the principal executive officer and the principal financial officer, recognizes that any set of controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives.
Within 90 days prior to the filing date of this Quarterly Schedule of Portfolio Holdings on Form N-Q, the Registrant had carried out an evaluation, under the supervision and with the participation of the Registrant’s management, including the Registrant’s principal executive officer and the Registrant’s principal financial officer, of the effectiveness of the design and operation of the Registrant’s disclosure controls and procedures. Based on such evaluation, the Registrant’s principal executive officer and principal financial officer concluded that the Registrant’s disclosure controls and procedures are effective.
(b) Changes in Internal Controls. There have been no significant changes in the Registrant’s internal controls or in other factors that could significantly affect the internal controls subsequent to the date of their evaluation in connection with the preparation of this Quarterly Schedule of Portfolio Holdings on Form N-Q.
Item 3. Exhibits.
(a) Certification pursuant to Section 30a-2 under the Investment Company Act of 1940 of Laura F. Fergerson, Chief Executive Officer - Finance and Administration, and Mark H. Otani, Chief Financial Officer and Chief Accounting Officer.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
By /s/LAURA F. FERGERSON
Laura F. Fergerson
Chief Executive Officer
Finance and Administration
Date July 27, 2010
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By /s/Laura F. Fergerson
Laura F. Fergerson
Chief Executive Officer
Finance and Administration
Date July 27, 2010
By /s/MARK H. OTANI
Mark H. Otani
Chief Financial Officer and
Chief Accounting Officer
Date July 27, 2010