UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

**FORM N-Q**

**QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED**

**MANAGEMENT INVESTMENT COMPANY**

**_______________________________**

Investment Company Act file number  811-04760

DWS Advisor Funds

(Exact name of registrant as specified in charter)

 

345 Park Avenue

New York, NY  10154

(Address of principal executive offices)             (Zip code)

 

Paul Schubert

345 Park Avenue

New York, NY  10154-0004

(Name and address of agent for service)

Registrant's telephone number, including area code:  (212) 454-7190

Date of fiscal year end:  10/31

Date of reporting period: 7/31/09

 

ITEM 1.  SCHEDULE OF INVESTMENTS

 

| Investment Portfolio | **as of July 31, 2009  (Unaudited)** |
|----------------------|--------------------------------------|

 

 

**DWS Diversified International Equity Fund**

 

|   | **Shares** |   | **Value ($)** |  
 

**Common Stocks 91.9%**

 
**Australia 5.7%**

 
AGL Energy Ltd.  

 

109,288 

 

1,361,905 

 
Aristocrat Leisure Ltd.  

 

16,232 

 

58,375 

 
Australia & New Zealand Banking Group Ltd.  

 

5,432 

 

84,183 

 
BHP Billiton Ltd.  

 

13,874 

 

439,193 

 
Brambles Ltd.  

 

25,740 

 

128,951 

 
Coca-Cola Amatil Ltd.  

 

8,863 

 

69,159 

 
Cochlear Ltd.  

 

1,764 

 

82,087 

 
Commonwealth Bank of Australia  

 

3,442 

 

123,209 

 
Crown Ltd.  

 

19,411 

 

121,758 

 
CSL Ltd.  

 

18,182 

 

464,559 

 
CSR Ltd.  

 

39,764 

 

61,691 

 
Fairfax Media Ltd. (a) 

 

87,591 

 

108,054 

 
 

 

Foster's Group Ltd.  

 

23,566 

 

106,234 

 
Leighton Holdings Ltd.  

 

3,331 

 

84,078 

 
Macquarie Infrastructure Group (Units)  

 

58,316 

 

70,720 

 
National Australia Bank Ltd.  

 

4,943 

 

100,582 

 
Newcrest Mining Ltd.  

 

2,210 

 

55,450 

 
Origin Energy Ltd.  

 

13,493 

 

163,631 

 
Paladin Energy Ltd.*  

 

9,550 

 

36,421 

 
Qantas Airways Ltd.  

 

36,331 

 

70,494 

 
QBE Insurance Group Ltd.  

 

2,961 

 

48,290 

 
Rio Tinto Ltd.  

 

1,260 

 

63,650 

 
Santos Ltd.  

 

12,702 

 

154,250 

 
Sonic Healthcare Ltd.  

 

13,273 

 

129,880 

 
SP Ausnet  

 

352,311 

 

229,831 

 
TABCORP Holdings Ltd.  

 

24,015 

 

145,415 

 
Tatts Group Ltd.  

 

45,213 

 

92,644 

 
Telstra Corp., Ltd.  

 

234,950 

 

693,646 

 
Toll Holdings Ltd.  

 

14,124 

 

80,208 

 
Transurban Group (Units)  

 

25,217 

 

91,321 

 
Wesfarmers Ltd.  

 

10,404 

 

224,931 

 
Westfield Group (REIT) (Units)

 

7,987 

 

75,683 

 
Westpac Banking Corp.  

 

6,726 

 

122,012 

 
Woodside Petroleum Ltd.  

 

7,355 

 

281,117 

 
Woolworths Ltd.  

 

12,005 

 

273,600 

 
WorleyParsons Ltd.  

 

3,338 

 

72,055 

 
(Cost $5,422,881)

 

**6,569,267**

 
**Austria 1.1%**

 
Erste Group Bank AG  

 

10,680 

 

372,792 

 
OMV AG  

 

16,734 

 

664,249 

 
Raiffeisen International Bank-Holding AG  

 

3,574 

 

159,494 

 
Vienna Insurance Group  

 

2,490 

 

114,987 

 
(Cost $986,129)

 

**1,311,522**

 
**Belgium 2.8%**

 
Anheuser-Busch InBev NV  

 

10,986 

 

437,103 

 
Belgacom SA  

 

28,244 

 

1,011,838 

 
Colruyt SA  

 

243 

 

54,377 

 
Compagnie Nationale a Portefeuille  

 

1,238 

 

64,017 

 
Delhaize Group  

 

1,678 

 

119,989 

 
Dexia SA*  

 

12,287 

 

96,512 

 
Fortis*  

 

47,810 

 

186,032 

 
Groupe Bruxelles Lambert SA  

 

2,030 

 

161,102 

 
KBC Groep NV*  

 

3,810 

 

81,239 

 
Mobistar SA  

 

5,895 

 

375,702 

 
Solvay SA  

 

3,785 

 

370,997 

 
Umicore  

 

8,319 

 

217,221 

 
(Cost $2,699,908)

 

**3,176,129**

 
**Bermuda 0.1%**

 
Seadrill Ltd.  (Cost $62,798)

 

6,000 

 

**96,322**

 
**Canada 4.9%**

 
Agnico-Eagle Mines Ltd.  

 

800 

 

46,927 

 
Bank of Montreal  

 

1,500 

 

75,219 

 
Bank of Nova Scotia  

 

2,800 

 

119,356 

 
Barrick Gold Corp.  

 

3,600 

 

125,720 

 
 

 

BCE, Inc.  

 

13,000 

 

298,436 

 
Bombardier, Inc. "B"  

 

22,500 

 

79,786 

 
Canadian Imperial Bank of Commerce  

 

1,000 

 

61,555 

 
Canadian National Railway Co.  

 

5,700 

 

277,209 

 
Canadian Natural Resources Ltd.  

 

1,900 

 

114,220 

 
Canadian Pacific Railway Ltd.  

 

2,800 

 

124,502 

 
Canadian Tire Corp., Ltd. "A"  

 

1,800 

 

90,363 

 
Canadian Utilities Ltd. "A"  

 

5,600 

 

190,262 

 
EnCana Corp.  

 

2,200 

 

118,000 

 
Fortis, Inc.  

 

11,300 

 

267,067 

 
George Weston Ltd.  

 

1,500 

 

81,750 

 
Goldcorp, Inc.  

 

3,200 

 

121,584 

 
Imperial Oil Ltd.  

 

2,900 

 

116,162 

 
Kinross Gold Corp.  

 

3,300 

 

65,096 

 
Loblaw Companies Ltd.  

 

3,600 

 

114,291 

 
Magna International, Inc. "A"  

 

2,834 

 

143,377 

 
Manulife Financial Corp.  

 

3,500 

 

84,994 

 
Metro, Inc. "A"  

 

3,100 

 

97,122 

 
Petro-Canada  

 

1,900 

 

78,469 

 
Potash Corp. of Saskatchewan, Inc.  

 

1,301 

 

121,159 

 
Research In Motion Ltd.*  

 

6,700 

 

508,883 

 
Ritchie Bros. Auctioneers, Inc.  

 

1,700 

 

40,715 

 
Rogers Communications, Inc. "B"  

 

8,800 

 

244,497 

 
Royal Bank of Canada  

 

2,800 

 

133,288 

 
Saputo, Inc.  

 

4,400 

 

96,149 

 
Shaw Communications, Inc. "B"  

 

7,400 

 

129,899 

 
Shoppers Drug Mart Corp.  

 

6,500 

 

271,585 

 
SNC-Lavalin Group, Inc.  

 

2,900 

 

122,380 

 
Suncor Energy, Inc.  

 

2,200 

 

71,152 

 
Teck Resources Ltd. "B"*  

 

3,500 

 

92,110 

 
Telus Corp.  

 

3,000 

 

82,850 

 
Thomson Reuters Corp.  

 

10,600 

 

342,329 

 
Toronto-Dominion Bank  

 

1,900 

 

111,310 

 
TransAlta Corp.  

 

14,300 

 

284,872 

 
Viterra, Inc.*  

 

6,700 

 

56,411 

 
Yamana Gold, Inc.  

 

4,100 

 

39,087 

 
(Cost $4,782,313)

 

**5,640,143**

 
**Cyprus 0.1%**

 
Bank of Cyprus Public Co., Ltd.  (Cost $70,218)

 

11,195 

 

**73,877**

 
**Denmark 3.9%**

 
A P Moller-Maersk AS "A"  

 

15 

 

90,723 

 
A P Moller-Maersk AS "B"  

 

23 

 

143,071 

 
Carlsberg AS "B"  

 

9,140 

 

634,151 

 
Coloplast AS "B"  

 

1,951 

 

143,019 

 
Danske Bank AS*  

 

19,129 

 

398,162 

 
DSV AS*  

 

4,924 

 

67,856 

 
H. Lundbeck AS  

 

5,121 

 

99,240 

 
Novo Nordisk AS "B" (a) 

 

38,877 

 

2,288,108 

 
Topdanmark AS*  

 

618 

 

84,455 

 
Trygvesta AS  

 

1,368 

 

92,165 

 
Vestas Wind Systems AS*  

 

4,451 

 

313,505 

 
William Demant Holding AS*  

 

2,169 

 

129,110 

 
(Cost $3,935,277)

 

**4,483,565**

 
 

 

**Finland 2.4%**

 
Fortum Oyj  

 

26,514 

 

614,094 

 
Kone Oyj "B"  

 

8,241 

 

280,374 

 
Metso Corp.  

 

7,699 

 

162,296 

 
Nokia Oyj  

 

20,958 

 

278,999 

 
Outokumpu Oyj  

 

6,381 

 

125,054 

 
Pohjola Bank PLC "A"  

 

10,029 

 

104,348 

 
Rautaruukki Oyj  

 

4,639 

 

100,370 

 
Sampo Oyj "A"  

 

23,326 

 

487,062 

 
Stora Enso Oyj "R"*  

 

29,072 

 

184,806 

 
UPM-Kymmene Oyj  

 

25,561 

 

267,776 

 
Wartsila Corp.  

 

5,082 

 

181,809 

 
(Cost $2,463,926)

 

**2,786,988**

 
**France 7.8%**

 
Air Liquide SA  

 

1,608 

 

167,903 

 
Alcatel-Lucent*  

 

48,004 

 

132,735 

 
Alstom SA  

 

745 

 

51,149 

 
Atos Origin SA*  

 

1,476 

 

67,288 

 
AXA SA  

 

5,548 

 

117,269 

 
BNP Paribas  

 

2,808 

 

204,715 

 
Bouygues SA  

 

1,486 

 

63,296 

 
Cap Gemini  

 

3,086 

 

142,489 

 
Carrefour SA  

 

14,118 

 

662,730 

 
Casino Guichard-Perrachon SA  

 

1,359 

 

93,653 

 
Compagnie de Saint-Gobain  

 

2,434 

 

98,698 

 
Credit Agricole SA  

 

4,088 

 

58,354 

 
DANONE SA  

 

11,505 

 

617,305 

 
Dassault Systemes SA  

 

1,975 

 

98,805 

 
Electricite de France  

 

1,237 

 

61,312 

 
Essilor International SA  

 

5,866 

 

325,235 

 
France Telecom SA  

 

50,879 

 

1,269,787 

 
GDF Suez  

 

5,948 

 

227,244 

 
Iliad SA  

 

569 

 

60,744 

 
L'Oreal SA  

 

5,246 

 

454,684 

 
Lafarge SA  

 

2,136 

 

154,292 

 
LVMH Moet Hennessy Louis Vuitton SA  

 

1,095 

 

98,777 

 
Neopost SA  

 

952 

 

81,074 

 
Pernod Ricard SA  

 

4,262 

 

331,189 

 
Sanofi-Aventis  

 

31,334 

 

2,052,589 

 
Schneider Electric SA  

 

1,225 

 

111,290 

 
Societe Generale  

 

1,860 

 

119,430 

 
Suez Environnement Co.  

 

2,266 

 

43,181 

 
Total SA  

 

10,024 

 

555,915 

 
Unibail-Rodamco (REIT)  

 

516 

 

90,167 

 
Veolia Environnement  

 

2,694 

 

92,653 

 
Vinci SA  

 

2,195 

 

111,720 

 
Vivendi  

 

4,324 

 

111,088 

 
(Cost $7,779,822)

 

**8,928,760**

 
**Germany 5.2%**

 
Allianz SE (Registered)  

 

1,981 

 

195,387 

 
BASF SE  

 

4,940 

 

247,561 

 
Bayer AG  

 

4,088 

 

250,894 

 
Bayerische Motoren Werke (BMW) AG  

 

2,177 

 

100,626 

 
 

 

Beiersdorf AG  

 

8,821 

 

444,189 

 
Daimler AG (Registered)  

 

4,941 

 

228,667 

 
Deutsche Boerse AG  

 

974 

 

77,186 

 
Deutsche Post AG (Registered)  

 

4,805 

 

76,053 

 
Deutsche Telekom AG (Registered)  

 

106,809 

 

1,368,591 

 
E.ON AG  

 

6,851 

 

259,351 

 
Fresenius Medical Care AG & Co. KGaA  

 

1,148 

 

52,720 

 
Henkel AG & Co. KGaA  

 

12,020 

 

378,277 

 
K+S AG  

 

894 

 

50,179 

 
Linde AG  

 

1,077 

 

101,651 

 
MAN SE  

 

914 

 

63,182 

 
Merck KGaA  

 

516 

 

48,025 

 
Metro AG  

 

11,097 

 

642,626 

 
Muenchener Rueckversicherungs-Gesellschaft AG (Registered)  

 

988 

 

149,396 

 
RWE AG  

 

1,553 

 

131,149 

 
SAP AG  

 

8,981 

 

422,420 

 
Siemens AG (Registered)  

 

3,723 

 

297,158 

 
Suedzucker AG (a) 

 

6,532 

 

137,230 

 
ThyssenKrupp AG  

 

2,421 

 

74,534 

 
Volkswagen AG  

 

510 

 

183,369 

 
(Cost $5,063,757)

 

**5,980,421**

 
**Greece 0.8%**

 
Alpha Bank A.E.*  

 

6,623 

 

87,318 

 
EFG Eurobank Ergasias*  

 

5,983 

 

78,368 

 
Marfin Investment Group SA*  

 

11,119 

 

46,593 

 
National Bank of Greece SA*  

 

5,025 

 

146,680 

 
OPAP SA  

 

19,592 

 

470,527 

 
Piraeus Bank SA  

 

6,576 

 

78,169 

 
(Cost $987,789)

 

**907,655**

 
**Hong Kong 2.4%**

 
Cheung Kong (Holdings) Ltd.  

 

12,000 

 

154,838 

 
Cheung Kong Infrastructure Holdings Ltd.  

 

8,000 

 

29,109 

 
CLP Holdings Ltd.  

 

37,500 

 

254,273 

 
Esprit Holdings Ltd.  

 

40,500 

 

291,076 

 
Genting Singapore PLC* (a) 

 

284,000 

 

166,751 

 
Hang Seng Bank Ltd.  

 

5,400 

 

87,723 

 
Hong Kong & China Gas Co., Ltd.  

 

83,000 

 

184,205 

 
Hong Kong Exchanges & Clearing Ltd.  

 

6,100 

 

114,837 

 
Hongkong Electric Holdings Ltd.  

 

21,000 

 

115,432 

 
Hutchison Whampoa Ltd.  

 

57,000 

 

425,107 

 
Li & Fung Ltd.  

 

76,000 

 

224,076 

 
MTR Corp., Ltd.  

 

41,000 

 

148,657 

 
Noble Group Ltd.  

 

26,000 

 

37,758 

 
NWS Holdings Ltd.  

 

27,000 

 

51,840 

 
Shangri-La Asia Ltd.  

 

58,000 

 

92,051 

 
Sun Hung Kai Properties Ltd.  

 

11,000 

 

166,773 

 
Swire Pacific Ltd. "A"  

 

12,000 

 

134,399 

 
Television Broadcasts Ltd.  

 

14,000 

 

61,148 

 
Yue Yuen Industrial (Holdings) Ltd.  

 

28,500 

 

77,409 

 
(Cost $2,265,127)

 

**2,817,462**

 
**Ireland 0.6%**

 
CRH PLC  

 

25,283 

 

603,600 

 
 

 

Experian PLC  

 

9,145 

 

75,465 

 
(Cost $484,247)

 

**679,065**

 
**Italy 3.5%**

 
A2A SpA  

 

26,463 

 

48,203 

 
Assicurazioni Generali SpA  

 

4,657 

 

106,135 

 
Atlantia SpA  

 

8,411 

 

185,577 

 
Enel SpA  

 

71,169 

 

386,729 

 
Eni SpA  

 

20,160 

 

469,227 

 
Fiat SpA*  

 

22,999 

 

255,032 

 
Finmeccanica SpA  

 

13,102 

 

198,694 

 
Intesa Sanpaolo*  

 

33,805 

 

125,876 

 
Lottomatica SpA  

 

3,306 

 

69,974 

 
Luxottica Group SpA*  

 

3,194 

 

79,940 

 
Mediaset SpA  

 

22,753 

 

137,583 

 
Prysmian SpA  

 

3,992 

 

68,676 

 
Saipem SpA  

 

2,945 

 

79,753 

 
Snam Rete Gas SpA  

 

23,296 

 

102,019 

 
Telecom Italia SpA  

 

632,459 

 

989,785 

 
Telecom Italia SpA (RSP)  

 

376,932 

 

424,689 

 
Terna - Rete Elettrica Nationale SpA  

 

20,999 

 

74,002 

 
UBI Banca - Unione di Banche Italiane ScpA  

 

5,181 

 

72,479 

 
UniCredit SpA*  

 

61,608 

 

180,449 

 
(Cost $3,506,475)

 

**4,054,822**

 
**Japan 16.1%**

 
AEON Co., Ltd.  

 

15,800 

 

153,617 

 
Ajinomoto Co., Inc.  

 

19,000 

 

182,320 

 
Alfresa Holdings Corp.  

 

1,300 

 

65,944 

 
Asahi Breweries Ltd.  

 

11,600 

 

184,497 

 
Asahi Kasei Corp.  

 

21,000 

 

108,523 

 
Astellas Pharma, Inc.  

 

10,300 

 

392,951 

 
Canon, Inc.  

 

6,150 

 

229,427 

 
Central Japan Railway Co.  

 

11 

 

66,378 

 
Chubu Electric Power Co., Inc.  

 

13,700 

 

330,103 

 
Chugai Pharmaceutical Co., Ltd.  

 

5,200 

 

95,345 

 
Chugoku Electric Power Co., Inc.  

 

4,900 

 

102,635 

 
Cosmo Oil Co., Ltd.  

 

25,000 

 

74,769 

 
Daiichi Sankyo Co., Ltd.  

 

16,200 

 

294,468 

 
Dainippon Sumitomo Pharma Co., Ltd.  

 

5,700 

 

53,009 

 
Denso Corp.  

 

3,300 

 

97,474 

 
East Japan Railway Co.  

 

1,798 

 

103,177 

 
Eisai Co., Ltd.  

 

6,000 

 

213,686 

 
Electric Power Development Co., Ltd.  

 

3,600 

 

106,906 

 
FamilyMart Co., Ltd.  

 

2,800 

 

91,139 

 
FANUC Ltd.  

 

1,000 

 

82,114 

 
FUJIFILM Holdings Corp.  

 

4,100 

 

133,886 

 
Fujitsu Ltd.  

 

16,000 

 

105,173 

 
Hisamitsu Pharmaceutical Co., Inc.  

 

2,200 

 

76,026 

 
Hitachi Ltd.  

 

26,000 

 

87,376 

 
Hokkaido Electric Power Co., Inc.  

 

4,900 

 

95,230 

 
Hokuriku Electric Power Co.  

 

3,900 

 

89,231 

 
Honda Motor Co., Ltd.  

 

5,900 

 

190,172 

 
HOYA Corp.

 

3,700 

 

89,347 

 
Idemitsu Kosan Co., Ltd.  

 

800 

 

66,874 

 
INPEX Corp.  

 

22 

 

168,328 

 
ITOCHU Corp.  

 

11,000 

 

82,304 

 
 

 

Japan Petroleum Exploration Co., Ltd.  

 

1,600 

 

78,964 

Japan Tobacco, Inc.  

 

115 

 

332,999 

JFE Holdings, Inc.  

 

4,800 

 

193,268 

Kansai Electric Power Co., Inc.  

 

15,800 

 

353,152 

Kao Corp.  

 

13,000 

 

294,690 

KDDI Corp.  

 

104 

 

551,736 

Keyence Corp.  

 

400 

 

79,007 

Kikkoman Corp.  

 

7,000 

 

81,892 

Kirin Holdings Co., Ltd.  

 

22,000 

 

329,215 

Kobe Steel Ltd.  

 

55,000 

 

106,367 

Komatsu Ltd.  

 

7,200 

 

117,863 

Kyocera Corp.  

 

1,400 

 

112,740 

Kyowa Hakko Kirin Co., Ltd.  

 

11,000 

 

126,711 

Kyushu Electric Power Co., Inc.  

 

6,600 

 

142,288 

Lawson, Inc.  

 

2,600 

 

107,984 

Mediceo Paltac Holdings Co., Ltd.  

 

5,500 

 

68,761 

MEIJI Holdings Co., Ltd.*  

 

2,400 

 

96,888 

Mitsubishi Chemical Holdings Corp.  

 

20,000 

 

89,828 

Mitsubishi Corp.  

 

6,700 

 

133,823 

Mitsubishi Electric Corp.  

 

12,000 

 

88,011 

Mitsubishi Estate Co., Ltd.  

 

7,000 

 

116,660 

Mitsubishi Heavy Industries Ltd.  

 

22,000 

 

88,116 

Mitsubishi Tanabe Pharma Corp.  

 

7,000 

 

83,371 

Mitsubishi UFJ Financial Group, Inc.  

 

42,200 

 

252,420 

Mitsui & Co., Ltd.  

 

8,500 

 

106,626 

Mitsui Fudosan Co., Ltd.  

 

7,000 

 

128,719 

Mitsui O.S.K. Lines Ltd.  

 

13,000 

 

79,271 

Mitsui Sumitomo Insurance Group Holdings, Inc.  

 

3,100 

 

79,609 

Mizuho Financial Group, Inc.  

 

51,000 

 

115,878 

Murata Manufacturing Co., Ltd.  

 

2,100 

 

102,975 

NEC Corp.*  

 

21,000 

 

73,680 

Nidec Corp.  

 

1,000 

 

72,391 

Nintendo Co., Ltd.  

 

600 

 

162,262 

Nippon Meat Packers, Inc.  

 

6,000 

 

73,553 

Nippon Mining Holdings, Inc.  

 

26,000 

 

123,646 

Nippon Oil Corp.  

 

37,000 

 

196,291 

Nippon Steel Corp.  

 

48,000 

 

192,254 

Nippon Telegraph & Telephone Corp.  

 

17,905 

 

739,853 

Nissan Motor Co., Ltd.  

 

14,500 

 

105,580 

Nisshin Seifun Group, Inc.  

 

7,500 

 

91,228 

Nissin Foods Holdings Co., Ltd.  

 

2,300 

 

73,406 

Nitto Denko Corp.  

 

2,400 

 

77,358 

Nomura Holdings, Inc.  

 

17,000 

 

148,935 

NTT DoCoMo, Inc.  

 

541 

 

784,414 

OJI Paper Co., Ltd.  

 

14,000 

 

60,808 

Olympus Corp.  

 

6,000 

 

172,470 

Ono Pharmaceutical Co., Ltd.  

 

2,900 

 

129,025 

Osaka Gas Co., Ltd.  

 

42,000 

 

139,815 

Panasonic Corp.  

 

7,900 

 

125,231 

Resona Holdings, Inc. (a) 

 

3,400 

 

50,232 

Ricoh Co., Ltd.  

 

7,000 

 

91,878 

Santen Pharmaceutical Co., Ltd.  

 

2,800 

 

87,440 

Sapporo Holdings Ltd.  

 

14,000 

 

84,629 

Seven & I Holdings Co., Ltd.  

 

20,100 

 

471,567 

Sharp Corp.  

 

6,000 

 

66,769 

 

 

Shikoku Electric Power Co., Inc.  

 

3,400 

 

101,865 

 
Shin-Etsu Chemical Co., Ltd.  

 

3,300 

 

177,860 

 
Shionogi & Co., Ltd.  

 

7,000 

 

144,919 

 
Shiseido Co., Ltd.  

 

10,000 

 

163,170 

 
Showa Shell Sekiyu K.K.  

 

10,100 

 

113,035 

 
Softbank Corp.  

 

27,000 

 

574,954 

 
Sony Corp.  

 

4,500 

 

127,213 

 
Sumitomo Chemical Co., Ltd.  

 

19,000 

 

94,172 

 
Sumitomo Corp.  

 

6,800 

 

67,335 

 
Sumitomo Metal Industries Ltd.  

 

37,000 

 

92,280 

 
Sumitomo Metal Mining Co., Ltd.  

 

6,000 

 

90,357 

 
Sumitomo Mitsui Financial Group, Inc.  

 

3,500 

 

149,802 

 
Suzuken Co., Ltd.  

 

2,400 

 

72,412 

 
Taisho Pharmaceutical Co., Ltd.  

 

4,000 

 

77,189 

 
Takeda Pharmaceutical Co., Ltd.  

 

16,900 

 

684,037 

 
Terumo Corp.  

 

3,800 

 

193,162 

 
Tohoku Electric Power Co., Inc.  

 

7,600 

 

158,305 

 
Tokio Marine Holdings, Inc.  

 

4,200 

 

122,061 

 
Tokyo Electric Power Co., Inc.  

 

25,600 

 

656,063 

 
Tokyo Electron Ltd.  

 

1,600 

 

83,868 

 
Tokyo Gas Co., Ltd.  

 

44,000 

 

161,353 

 
TonenGeneral Sekiyu K.K.  

 

12,000 

 

114,642 

 
Toray Industries, Inc.  

 

19,000 

 

95,176 

 
Toshiba Corp.  

 

26,000 

 

115,403 

 
Toyo Suisan Kaisha Ltd.  

 

3,000 

 

74,980 

 
Toyota Motor Corp.  

 

10,700 

 

451,181 

 
Tsumura & Co.  

 

2,000 

 

64,676 

 
Unicharm Corp.  

 

1,200 

 

97,141 

 
UNY Co., Ltd.  

 

10,700 

 

87,296 

 
Yakult Honsha Co., Ltd.  

 

3,300 

 

72,713 

 
Yamazaki Baking Co., Ltd.  

 

5,000 

 

62,827 

 
(Cost $16,913,192)

 

**18,588,423**

 
**Luxembourg 0.4%**

 
ArcelorMittal  

 

8,488 

 

305,473 

 
Millicom International Cellular SA (SDR)*  

 

1,849 

 

139,136 

 
Tenaris SA  

 

4,228 

 

64,119 

 
(Cost $345,934)

 

**508,728**

 
**Netherlands 6.6%**

 
AEGON NV  

 

22,374 

 

164,487 

 
Akzo Nobel NV  

 

6,122 

 

335,895 

 
ASML Holding NV  

 

19,600 

 

513,182 

 
Fugro NV (CVA)  

 

1,022 

 

45,863 

 
Heineken Holding NV  

 

1,828 

 

62,922 

 
Heineken NV  

 

6,432 

 

256,782 

 
ING Groep NV (CVA)  

 

29,316 

 

375,973 

 
Koninklijke (Royal) KPN NV (a) 

 

93,382 

 

1,403,511 

 
Koninklijke (Royal) Philips Electronics NV  

 

15,616 

 

356,120 

 
Koninklijke Ahold NV  

 

35,323 

 

401,709 

 
Koninklijke DSM NV  

 

4,673 

 

167,043 

 
Randstad Holding NV*  

 

2,331 

 

80,734 

 
Reed Elsevier NV (a) 

 

99,964 

 

1,047,788 

 
Royal Dutch Shell PLC "A"  

 

4,478 

 

117,590 

 
Royal Dutch Shell PLC "B"  

 

3,411 

 

88,545 

 
TNT NV  

 

6,985 

 

165,912 

 
 

 

Unilever NV (CVA)  

 

45,240 

 

1,236,092 

 
Wolters Kluwer NV  

 

41,908 

 

824,294 

 
**** |
|--------|------------|--------|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|