[Annotated Form N-Q]
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
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Investment Company Act file number |
811-06403 |
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MORGAN STANLEY EMERGING MARKETS FUND, INC. |
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(Exact name of registrant as specified in charter) |
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522 FIFTH AVENUE, NEW YORK, NY |
10036 |
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(Address of principal executive offices) |
(Zip code) |
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RONALD E. ROBISON |
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(Name and address of agent for service) |
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Registrant's telephone number, including area code: |
1-800-231-2608 |
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Date of fiscal year end: |
12/31 |
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Date of reporting period: |
9/30/07 |
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Item 1. Schedule of Investments.
The Fund’s schedule of investment as of the close of the reporting period prepared pursuant to Rule 12-12 Regulation S-X is as follows:
Morgan Stanley Emerging Markets Fund, Inc.
Portfolio of Invesments
Third Quarter Report
September 30, 2007 (unaudited)
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Value |
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Shares |
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(000) |
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COMMON STOCKS (98.3%) |
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(Unless Otherwise Noted) |
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Argentina (0.9%) |
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Energy Equipment & Services |
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Tenaris S.A. ADR |
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108,729 |
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$ |
5,721 |
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Austria (0.5%) |
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Commercial Banks |
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Raiffeisen International Bank Holding AG |
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22,999 |
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3,362 |
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Brazil (12.4%) |
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Commercial Banks |
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Banco Bradesco S.A. ADR |
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53,332 |
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1,566 |
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Banco Itau Holding Financeira S.A. ADR |
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63,464 |
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3,213 |
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Banco Itau Holding Financeira S.A. (Preference) |
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85,141 |
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4,301 |
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Banco Nacional S.A. (Preference) |
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(a)(b)61,598,720 |
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@— |
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Investimentos Itau S.A. (Preference) |
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419,374 |
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2,894 |
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Unibanco - Uniao de Bancos Brasileiros S.A. |
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102,862 |
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1,354 |
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Unibanco - Uniao de Bancos Brasileiros S.A. GDR |
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55,802 |
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7,341 |
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20,669 |
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Household Durables |
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Cyrela Brazil Realty S.A. |
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244,927 |
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3,280 |
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Independent Power Producers & Energy Traders |
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Cia Energetica de Minas Gerais ADR |
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247,002 |
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5,269 |
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Cia Energetica de Sao Paolo, ‘B’ (Preference) |
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(a)63,568 |
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1,170 |
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6,439 |
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Media |
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NET Servicos de Comunicacao S.A. (Preference) |
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(a)19,871 |
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328 |
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Metals & Mining |
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Cia Vale do Rio Doce ADR |
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922,404 |
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26,243 |
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Cia Vale do Rio Doce, ‘A’ (Preference) |
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17,252 |
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493 |
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Gerdau S.A. ADR |
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32,967 |
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864 |
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Gerdau S.A. (Preference) |
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94,750 |
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2,486 |
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Usinas Siderurgicas De Minas Gerais S.A. |
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29,106 |
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2,271 |
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Usinas Siderurgicas de Minas Gerais S.A., ‘A’ (Preference) |
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33,224 |
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2,320 |
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34,677 |
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Oil, Gas & Consumable Fuels |
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Petroleo Brasileiro S.A. ADR |
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30,195 |
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1,953 |
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Petroleo Brasileiro S.A. (Preference) |
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120,816 |
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3,912 |
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5,865 |
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Road & Rail |
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All America Latina Logistica S.A. |
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238,393 |
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3,363 |
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Wireless Telecommunication Services |
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Tim Participacoes S.A. |
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36,800 |
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222 |
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Tim Participacoes S.A. ADR |
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46,100 |
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1,870 |
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2,092 |
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76,713 |
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China/Hong Kong (19.0%) |
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Airlines |
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Cathay Pacific Airways Ltd. |
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1,232,000 |
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3,368 |
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Automobiles |
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Dongfeng Motor Group Co., Ltd., ‘H’ |
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5,728,000 |
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5,033 |
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Commercial Banks |
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China Construction Bank Corp., ‘H’ |
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11,487,000 |
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10,477 |
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China Merchants Bank Co., Ltd., ‘H’ |
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886,500 |
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3,894 |
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Industrial & Commercial Bank of China Ltd., ‘H’ |
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11,420,000 |
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8,006 |
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22,377 |
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Construction & Engineering |
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China Communications Construction Co., Ltd., ‘H’ |
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2,078,000 |
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4,940 |
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Electrical Equipment |
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Harbin Power Equipment, ‘H’ |
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1,954,000 |
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4,896 |
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Health Care Equipment & Supplies |
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Moulin Global Eyecare Holdings Ltd. |
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(a)(b)(c)568,000 |
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@— |
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Independent Power Producers & Energy Traders |
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China Power International Development Ltd. |
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3,602,000 |
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1,886 |
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China Resources Power Holdings Co. |
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1,445,000 |
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4,489 |
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6,375 |
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Industrial Conglomerates |
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Shanghai Industrial Holdings Ltd. |
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894,000 |
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4,462 |
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Insurance |
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Ping An Insurance Group Co. of China Ltd., ‘H’ |
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438,500 |
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6,069 |
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Marine |
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China COSCO Holdings Co., Ltd., ‘H’ |
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1,263,000 |
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3,948 |
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China Shipping Development Co., Ltd., ‘H’ |
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352,000 |
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1,141 |
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5,089 |
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Metals & Mining |
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Maanshan Iron & Steel, Co., Ltd. ‘H’ |
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4,570,000 |
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4,997 |
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Oil, Gas & Consumable Fuels |
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China Coal Energy Co. |
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(a)3,479,000 |
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10,338 |
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China Shenhua Energy Co., Ltd., ‘H’ |
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464,000 |
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2,787 |
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CNOOC Ltd. |
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2,751,000 |
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4,622 |
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PetroChina Co., Ltd., ‘H’ |
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2,148,000 |
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4,073 |
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21,820 |
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Real Estate |
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Shenzhen Investment Ltd. |
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2,855,000 |
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2,549 |
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Sino-Ocean Land Holdings Ltd. |
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(a)72,000 |
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102 |
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2,651 |
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Specialty Retail |
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GOME Electrical Appliances Holdings Ltd. |
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2,831,000 |
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5,557 |
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Transportation Infrastructure |
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Cosco Pacific Ltd. |
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1,044,000 |
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3,304 |
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Wireless Telecommunication Services |
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China Mobile Ltd. |
|
978,500 |
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16,023 |
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116,961 |
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Czech Republic (1.1%) |
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Commercial Banks |
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Komercni Banka A/S |
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10,800 |
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2,513 |
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Media |
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Central European Media Enterprises Ltd. |
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(a)48,400 |
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4,439 |
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6,952 |
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Egypt (0.5%) |
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Electrical Equipment |
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El Sewedy Cables Holding Co. |
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(a)198,876 |
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3,169 |
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Hungary (1.1%) |
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Commercial Banks |
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OTP Bank Nyrt |
|
124,862 |
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6,778 |
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India (9.1%) |
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Automobiles |
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Maruti Suzuki India Ltd. |
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96,300 |
|
2,414 |
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Commercial Banks |
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Axis Bank Ltd. |
|
203,500 |
|
3,905 |
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HDFC Bank Ltd. |
|
103,800 |
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3,740 |
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HDFC Bank Ltd. ADR |
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32,700 |
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3,503 |
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11,148 |
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Electrical Equipment |
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ABB Ltd. |
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109,705 |
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3,569 |
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Bharat Heavy Electricals Ltd. |
|
91,300 |
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4,667 |
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GVK Power & Infrastructure Ltd. |
|
99,800 |
|
1,646 |
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|
9,882 |
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Energy Equipment & Services |
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Aban Offshore Ltd. |
|
28,600 |
|
2,515 |
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Information Technology Services |
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HCL Technologies Ltd. |
|
284,600 |
|
2,147 |
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Infosys Technologies Ltd. |
|
98,616 |
|
4,684 |
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|
6,831 |
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Machinery |
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Praj Industries Ltd. |
|
211,000 |
|
1,257 |
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Media |
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Deccan Chronicle Holdings Ltd. |
|
402,000 |
|
2,060 |
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Television Eighteen India Ltd. |
|
26,000 |
|
620 |
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Zee Entertainment Enterprises Ltd. |
|
301,500 |
|
2,587 |
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|
|
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|
5,267 |
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Oil, Gas & Consumable Fuels |
|
|
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Reliance Industries Ltd. |
|
81,500 |
|
4,700 |
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Pharmaceuticals |
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Glenmark Pharmaceuticals Ltd. |
|
242,600 |
|
2,572 |
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Road & Rail |
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Container Corp. of India Ltd. |
|
25,135 |
|
1,328 |
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Wireless Telecommunication Services |
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Bharti Airtel Ltd. |
|
(a)(c)254,500 |
|
6,128 |
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|
Reliance Communication Ltd. |
|
146,100 |
|
2,151 |
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|
|
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|
8,279 |
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|
|
|
|
|
56,193 |
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Indonesia (2.8%) |
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Automobiles |
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|
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Astra International Tbk PT |
|
1,080,600 |
|
2,275 |
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Commercial Banks |
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|
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Bank Central Asia Tbk PT |
|
2,418,500 |
|
1,626 |
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Bank Mandiri Persero Tbk PT |
|
2,198,000 |
|
847 |
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Bank Rakyat Indonesia PT |
|
2,270,500 |
|
1,639 |
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|
|
|
|
|
4,112 |
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Diversified Telecommunication Services |
|
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Telekomunikasi Indonesia Tbk PT |
|
1,493,000 |
|
1,796 |
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Gas Utilities |
|
|
|
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Perusahaan Gas Negara PT |
|
569,500 |
|
750 |
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Machinery |
|
|
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United Tractors Tbk PT |
|
534,500 |
|
479 |
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|
Metals & Mining |
|
|
|
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International Nickel Indonesia Tbk PT |
|
444,000 |
|
3,083 |
|
|
Oil, Gas & Consumable Fuels |
|
|
|
|
|
|
Bumi Resources Tbk PT |
|
8,828,500 |
|
3,451 |
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|
Medco Energi Internasional Tbk PT |
|
747,000 |
|
339 |
|
|
Tambang Batubara Bukit Asam Tbk PT |
|
1,622,000 |
|
1,162 |
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|
|
|
|
|
4,952 |
|
|
|
|
|
|
17,447 |
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Israel (0.0%) |
|
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Aerospace & Defense |
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Elbit Systems Ltd. |
|
1 |
|
@— |
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Malaysia (0.4%) |
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Food Products |
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|
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IOI Corp. Bhd |
|
1,517,150 |
|
2,694 |
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Mexico (6.0%) |
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|
Commercial Banks |
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|
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|
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Grupo Financiero Banorte S.A.B. de C.V., ‘O’ |
|
844,600 |
|
3,344 |
|
|
Construction Materials |
|
|
|
|
|
|
Cemex S.A.B. de C.V. ADR |
|
(a)70,490 |
|
2,109 |
|
|
Food & Staples Retailing |
|
|
|
|
|
|
Wal-Mart de Mexico S.A.B. de C.V. ADR |
|
98,507 |
|
3,613 |
|
|
Wal-Mart de Mexico S.A.B. de C.V., ‘V’ |
|
1,141,523 |
|
4,185 |
|
|
|
|
|
|
7,798 |
|
|
Household Durables |
|
|
|
|
|
|
Corp. GEO S.A.B. de C.V. |
|
(a)486,811 |
|
2,136 |
|
|
Urbi Desarrollos Urbanos S.A. de C.V. |
|
(a)512,000 |
|
1,840 |
|
|
|
|
|
|
3,976 |
|
|
Media |
|
|
|
|
|
|
Grupo Televisa S.A. ADR |
|
205,208 |
|
4,960 |
|
|
Wireless Telecommunication Services |
|
|
|
|
|
|
America Movil S.A.B. de C.V., ‘L’ ADR |
|
233,087 |
|
14,917 |
|
|
|
|
|
|
37,104 |
|
|
Morocco (0.4%) |
|
|
|
|
|
|
Household Durables |
|
|
|
|
|
|
Douja Promotion Groupe Addoha S.A. |
|
5,500 |
|
2,341 |
|
|
Oman (0.7%) |
|
|
|
|
|
|
Commercial Banks |
|
|
|
|
|
|
Bank Muscat SAOG |
|
788,112 |
|
3,066 |
|
|
Bank Muscat SAOG GDR (Registered) |
|
85,117 |
|
1,364 |
|
|
|
|
|
|
4,430 |
|
|
Pakistan (0.2%) |
|
|
|
|
|
|
Oil, Gas & Consumable Fuels |
|
|
|
|
|
|
Oil & Gas Development Co., Ltd. |
|
722,140 |
|
1,368 |
|
|
Philippines (0.7%) |
|
|
|
|
|
|
Diversified Financial Services |
|
|
|
|
|
|
Ayala Corp. |
|
107,710 |
|
1,315 |
|
|
Independent Power Producers & Energy Traders |
|
|
|
|
|
|
PNOC Energy Development Corp. |
|
10,361,500 |
|
1,472 |
|
|
Wireless Telecommunication Services |
|
|
|
|
|
|
Philippines Long Distance Telephone Co. |
|
19,240 |
|
1,243 |
|
|
|
|
|
|
4,030 |
|
|
Poland (4.2%) |
|
|
|
|
|
|
Commercial Banks |
|
|
|
|
|
|
Bank Handlowy w Warszawie S.A. |
|
60,793 |
|
2,609 |
|
|
Bank Millennium S.A. |
|
787,727 |
|
3,517 |
|
|
Bank Pekao S.A. |
|
61,681 |
|
5,730 |
|
|
Bank Zachodni WBK S.A. |
|
30,437 |
|
2,914 |
|
|
|
|
|
|
14,770 |
|
|
Construction & Engineering |
|
|
|
|
|
|
Budimex S.A. |
|
(a)26,909 |
|
723 |
|
|
PBG S.A. |
|
(a)6,677 |
|
910 |
|
|
Polimex Mostostal S.A. |
|
338,625 |
|
1,300 |
|
|
|
|
|
|
2,933 |
|
|
Media |
|
|
|
|
|
|
TVN S.A. |
|
435,716 |
|
3,594 |
|
|
Metals & Mining |
|
|
|
|
|
|
KGHM Polska Miedz S.A. |
|
68,992 |
|
3,224 |
|
|
Oil, Gas & Consumable Fuels |
|
|
|
|
|
|
Polski Koncern Naftowy Orlen |
|
(a)53,200 |
|
1,117 |
|
|
|
|
|
|
25,638 |
|
|
Russia (10.4%) |
|
|
|
|
|
|
Commercial Banks |
|
|
|
|
|
|
Sberbank RF |
|
1,722,189 |
|
7,162 |
|
|
Sberbank RF GDR |
|
(a)14,329 |
|
6,627 |
|
|
|
|
|
|
13,789 |
|
|
Diversified Telecommunication Services |
|
|
|
|
|
|
Golden Telecom, Inc. |
|
52,400 |
|
4,218 |
|
|
Energy Equipment & Services |
|
|
|
|
|
|
TMK OAO GDR |
|
(d)83,978 |
|
3,468 |
|
|
TMK OAO GDR (Registered) |
|
31,992 |
|
1,321 |
|
|
|
|
|
|
4,789 |
|
|
Food Products |
|
|
|
|
|
|
Wimm-Bill-Dann Foods OJSC ADR |
|
34,715 |
|
3,796 |
|
|
Media |
|
|
|
|
|
|
CTC Media, Inc. |
|
(a)190,544 |
|
4,184 |
|
|
Metals & Mining |
|
|
|
|
|
|
Evraz Group S.A. GDR |
|
77,956 |
|
4,935 |
|
|
Mechel OAO ADR |
|
53,126 |
|
2,710 |
|
|
MMC Norilsk Nickel ADR |
|
24,177 |
|
6,576 |
|
|
Severstal GDR |
|
165,505 |
|
3,505 |
|
|
|
|
|
|
17,726 |
|
|
Oil, Gas & Consumable Fuels |
|
|
|
|
|
|
OAO Gazprom ADR |
|
277,457 |
|
12,236 |
|
|
Paper & Forest Products |
|
|
|
|
|
|
Alliance Cellulose Ltd., ‘B’ |
|
(b)(c)156,075 |
|
@— |
|
|
Wireless Telecommunication Services |
|
|
|
|
|
|
Mobile Telesystems OJSC ADR |
|
50,349 |
|
3,490 |
|
|
|
|
|
|
64,228 |
|
|
South Africa (5.4%) |
|
|
|
|
|
|
Construction & Engineering |
|
|
|
|
|
|
Group Five Ltd. |
|
276,200 |
|
2,221 |
|
|
Raubex Group Ltd. |
|
(a)392,293 |
|
1,822 |
|
|
|
|
|
|
4,043 |
|
|
Electronic Equipment & Instruments |
|
|
|
|
|
|
Allied Electronics Corp., Ltd. (Preference) |
|
268,425 |
|
1,757 |
|
|
Food & Staples Retailing |
|
|
|
|
|
|
Massmart Holdings Ltd. |
|
245,650 |
|
2,973 |
|
|
Industrial Conglomerates |
|
|
|
|
|
|
Barloworld Ltd. |
|
105,891 |
|
1,992 |
|
|
Murray & Roberts Holdings Ltd. |
|
264,379 |
|
3,449 |
|
|
|
|
|
|
5,441 |
|
|
Metals & Mining |
|
|
|
|
|
|
Mittal Steel South Africa Ltd. |
|
213,796 |
|
4,253 |
|
|
Specialty Retail |
|
|
|
|
|
|
Mr. Price Group Ltd. |
|
711,800 |
|
2,707 |
|
|
Wireless Telecommunication Services |
|
|
|
|
|
|
MTN Group Ltd. |
|
810,500 |
|
12,294 |
|
|
|
|
|
|
33,468 |
|
|
South Korea (13.0%) |
|
|
|
|
|
|
Airlines |
|
|
|
|
|
|
Korean Air Lines Co., Ltd. |
|
30,964 |
|
2,094 |
|
|
Automobiles |
|
|
|
|
|
|
Hyundai Motor Co. |
|
23,551 |
|
1,902 |
|
|
Beverages |
|
|
|
|
|
|
Hite Brewery Co., Ltd. |
|
8,094 |
|
1,132 |
|
|
Chemicals |
|
|
|
|
|
|
LG Chem Ltd. |
|
30,180 |
|
3,166 |
|
|
SSCP Co., Ltd. |
|
(a)32,078 |
|
1,051 |
|
|
|
|
|
|
4,217 |
|
|
Commercial Banks |
|
|
|
|
|
|
Kookmin Bank |
|
2,278 |
|
190 |
|
|
Korea Exchange Bank |
|
130,580 |
|
2,119 |
|
|
Shinhan Financial Group Co., Ltd. |
|
95,754 |
|
6,256 |
|
|
|
|
|
|
8,565 |
|
|
Construction & Engineering |
|
|
|
|
|
|
GS Engineering & Construction Corp. |
|
28,141 |
|
4,889 |
|
|
Hyundai Engineering & Construction Co., Ltd. |
|
(a)9,466 |
|
904 |
|
|
|
|
|
|
5,793 |
|
|
Electronic Equipment & Instruments |
|
|
|
|
|
|
LG Philips LCD Co., Ltd. |
|
(a)59,970 |
|
2,870 |
|
|
Household Durables |
|
|
|
|
|
|
LG Electronics, Inc. |
|
44,493 |
|
4,157 |
|
|
Woongjin Coway Co., Ltd. |
|
106,987 |
|
3,513 |
|
|
|
|
|
|
7,670 |
|
|
Industrial Conglomerates |
|
|
|
|
|
|
Orion Corp. |
|
7,552 |
|
2,290 |
|
|
Insurance |
|
|
|
|
|
|
Samsung Fire & Marine Insurance Co., Ltd. |
|
13,705 |
|
2,950 |
|
|
Internet Software & Services |
|
|
|
|
|
|
NHN Corp. |
|
(a)22,505 |
|
5,208 |
|
|
Machinery |
|
|
|
|
|
|
Doosan Infracore Co., Ltd. |
|
76,890 |
|
2,987 |
|
|
Hyundai Heavy Industries Co., Ltd. |
|
13,949 |
|
6,447 |
|
|
Hyundai Mipo Dockyard Co., Ltd. |
|
15,388 |
|
5,296 |
|
|
|
|
|
|
14,730 |
|
|
Marine |
|
|
|
|
|
|
STX Pan Ocean Co., Ltd. |
|
(a)609,960 |
|
1,643 |
|
|
STX Pan Ocean Co., Ltd. (Singapore) |
|
887,000 |
|
1,994 |
|
|
|
|
|
|
3,637 |
|
|
Media |
|
|
|
|
|
|
Cheil Communications, Inc. |
|
7,471 |
|
2,212 |
|
|
Metals & Mining |
|
|
|
|
|
|
POSCO |
|
4,200 |
|
3,089 |
|
|
Personal Products |
|
|
|
|
|
|
Amorepacific Corp. |
|
3,440 |
|
2,567 |
|
|
Semiconductors & Semiconductor Equipment |
|
|
|
|
|
|
Samsung Electronics Co., Ltd. |
|
5,123 |
|
3,218 |
|
|
Samsung Electronics Co., Ltd. (Preference) |
|
7,246 |
|
3,373 |
|
|
|
|
|
|
6,591 |
|
|
Textiles, Apparel & Luxury Goods |
|
|
|
|
|
|
Cheil Industries, Inc. |
|
37,664 |
|
2,519 |
|
|
|
|
|
|
80,036 |
|
|
Taiwan (5.8%) |
|
|
|
|
|
|
Chemicals |
|
|
|
|
|
|
Formosa Plastics Corp. |
|
1,040,000 |
|
2,932 |
|
|
Computers & Peripherals |
|
|
|
|
|
|
Asustek Computer, Inc. |
|
940,059 |
|
2,860 |
|
|
Foxconn Technology Co., Ltd. |
|
291,850 |
|
3,380 |
|
|
High Tech Computer Corp. |
|
40,540 |
|
595 |
|
|
|
|
|
|
6,835 |
|
|
Construction Materials |
|
|
|
|
|
|
Taiwan Cement Corp. |
|
932,000 |
|
1,525 |
|
|
Diversified Financial Services |
|
|
|
|
|
|
Yuanta Financial Holding Co., Ltd. |
|
(a)1,325,000 |
|
812 |
|
|
Electronic Equipment & Instruments |
|
|
|
|
|
|
AU Optronics Corp. |
|
3,775,997 |
|
6,514 |
|
|
HON HAI Precision Industry Co., Ltd. |
|
485,600 |
|
3,660 |
|
|
|
InnoLux Display Corp. |
|
90,661 |
|
389 |
|
|
|
Tripod Technology Corp. |
|
365,334 |
|
1,489 |
|
|
|
TXC Corp. |
|
433,589 |
|
990 |
|
|
|
|
|
|
|
13,042 |
|
|
|
Marine |
|
|
|
|
|
|
|
Yang Ming Marine Transport Corp. |
|
3,629,765 |
|
2,920 |
|
|
|
Semiconductors & Semiconductor Equipment |
|
|
|
|
|
|
|
Advanced Semiconductor Engineering, Inc. |
|
1,099,269 |
|
1,206 |
|
|
|
MediaTek, Inc. |
|
234,615 |
|
4,227 |
|
|
|
Siliconware Precision Industries Co. |
|
1,068,000 |
|
2,405 |
|
|
|
|
|
|
|
7,838 |
|
|
|
|
|
|
|
35,904 |
|
|
|
Turkey (3.7%) |
|
|
|
|
|
|
|
Commercial Banks |
|
|
|
|
|
|
|
Turkiye Garanti Bankasi A/S |
|
800,251 |
|
6,133 |
|
|
|
Turkiye Halk Bankasi A/S |
|
(a)319,508 |
|
2,594 |
|
|
|
Yapi ve Kredi Bankasi A/S |
|
(a)1,543,806 |
|
4,937 |
|
|
|
|
|
|
|
13,664 |
|
|
|
Construction Materials |
|
|
|
|
|
|
|
Akcansa Cimento A/S |
|
191,743 |
|
1,470 |
|
|
|
Industrial Conglomerates |
|
|
|
|
|
|
|
KOC Holding A/S |
|
(a)391,234 |
|
2,058 |
|
|
|
Insurance |
|
|
|
|
|
|
|
Aksigorta A/S |
|
406,092 |
|
2,809 |
|
|
|
Wireless Telecommunication Services |
|
|
|
|
|
|
|
Turkcell Iletisim Hizmet A/S |
|
338,696 |
|
2,862 |
|
|
|
Turkcell Iletisim Hizmet A/S ADR |
|
8,000 |
|
171 |
|
|
|
|
|
|
|
3,033 |
|
|
|
|
|
|
|
23,034 |
|
|
|
TOTAL COMMON STOCKS (Cost $390,586) |
|
|
|
607,571 |
|
|
|
INVESTMENT COMPANIES (1.2%) |
|
|
|
|
|
|
|
India |
|
|
|
|
|
|
|
Morgan Stanley Growth Fund |
|
(e)3,588,793 |
|
4,886 |
|
|
|
Romania |
|
|
|
|
|
|
|
SIF 1 Banat Crisana Arad |
|
337,300 |
|
504 |
|
|
|
SIF 2 Moldova Bacau |
|
370,500 |
|
553 |
|
|
|
SIF 3 Transilvania Brasov |
|
(a)387,600 |
|
375 |
|
|
|
SIF 4 Muntenia Bucuresti |
|
472,600 |
|
480 |
|
|
|
SIF 5 Oltenia Craiova |
|
318,800 |
|
587 |
|
|
|
|
|
|
|
2,499 |
|
|
|
TOTAL INVESTMENT COMPANIES (Cost $3,570) |
|
|
|
7,385 |
|
|
|
|
|
Face |
|
|
|
|
|
|
|
Amount |
|
|
|
|
|
|
|
(000) |
|
|
|
|
|
DEBT INSTRUMENTS (0.0%) |
|
|
|
|
|
|
|
India (0.0%) |
|
|
|
|
|
|
|
Metals & Mining |
|
|
|
|
|
|
|
Shri Ishar Alloy Steels Ltd. |
|
|
|
|
|
|
|
Zero Coupon, (expired maturity) (Cost $409) |
INR |
(b)(c)581 |
|
@— |
|
|
|
|
|
No. of |
|
|
|
|
|
|
|
Rights |
|
|
|
|
|
RIGHTS (0.0%) |
|
|
|
|
|
|
|
Austria (0.0%) |
|
|
|
|
|
|
|
Commercial Banks |
|
|
|
|
|
|
|
Raiffeisen International Bank Holding AG, expiring 10/3/07 (Cost $ —) |
|
(a)22,999 |
|
@— |
|
|
|
TOTAL INVESTMENTS + (99.5%) (Cost $394,156) |
|
|
|
614,956 |
|
|
|
OTHER ASSETS IN EXCESS OF LIABILITIES (0.5%) |
|
|
|
2,846 |
|
|
|
NET ASSETS (100%) |
|
|
|
$ |
617,802 |
|
|
(a) |
Non-income producing security. |
|
(b) |
Security has been deemed illiquid at September 30, 2007. |
|
(c) |
Security was valued at fair value — At September 30, 2007 the Fund held fair valued securites, valued at $6,128,000, representing 1.0% of net assets. |
|
(d) |
144A Security — Certain conditions for public sale must exist. Unless otherwise noted, these securities are deemed to be liquid. |
|
(e) |
The Morgan Stanley Growth Fund, acquired at a cost of $666,000, is advised by an affiliate of the Adviser. At the beginning of the period, the Fund held 3,892,000 shares of the security valued at $3,786,000. For the nine months ended September 30, 2007, the Fund had no purchases and sold 303,000 shares of the security for a gain of $282,000. The Fund derived no income from this security during the nine months ended September 30, 2007. |
|
@ |
Value is less than $500. |
|
ADR |
American Depositary Receipt |
|
GDR |
Global Depositary Receipt |
|
INR |
Indian Rupee |
|
+ |
At September 30, 2007, the U.S. Federal income tax cost basis of investments was approximately $394,156,000 and, accordingly, net unrealized appreciation for U.S. Federal income tax purposes was $220,800,000 of which $226,695,000 related to appreciated securities and $5,895,000 related to depreciated securities. |
Foreign Currency Exchange Contract Information:
The Fund had the following foreign currency exchange contract(s) open at period end:
|
|
|
|
|
|
|
|
|
|
|
Net |
|
|||||||||||
|
Currency |
|
|
|
|
|
In |
|
|
|
Unrealized |
|
|||||||||||
|
to |
|
|
|
|
|
Exchange |
|
|
|
Appreciation |
|
|||||||||||
|
Deliver |
|
Value |
|
Settlement |
|
For |
|
Value |
|
(Depreciation) |
|
|||||||||||
|
(000) |
|
(000) |
|
Date |
|
(000) |
|
(000) |
|
(000) |
|
|||||||||||
|
EUR |
|
163 |
|
$ |
233 |
|
|
10/2/07 |
|
USD |
|
|
231 |
|
|
$ |
231 |
|
|
$ |
(2 |
) |
|
HKD |
|
29,898 |
|
3,846 |
|
|
10/2/07 |
|
USD |
|
|
3,853 |
|
|
3,853 |
|
|
7 |
|
|||
|
IDR |
|
402,141 |
|
44 |
|
|
10/1/07 |
|
USD |
|
|
44 |
|
|
44 |
|
|
@— |
|
|||
|
IDR |
|
324,444 |
|
35 |
|
|
10/1/07 |
|
USD |
|
|
35 |
|
|
35 |
|
|
@— |
|
|||
|
USD |
|
60 |
|
60 |
|
|
10/1/07 |
|
INR |
|
|
2,388 |
|
|
60 |
|
|
@— |
|
|||
|
USD |
|
120 |
|
120 |
|
|
10/1/07 |
|
SGD |
|
|
180 |
|
|
121 |
|
|
1 |
|
|||
|
USD |
|
368 |
|
368 |
|
|
10/2/07 |
|
SGD |
|
|
548 |
|
|
369 |
|
|
1 |
|
|||
|
USD |
|
101 |
|
101 |
|
|
10/1/07 |
|
TRY |
|
|
123 |
|
|
101 |
|
|
@— |
|
|||
|
USD |
|
8 |
|
8 |
|
|
10/2/07 |
|
TRY |
|
|
9 |
|
|
8 |
|
|
@— |
|
|||
|
ZAR |
|
62,688 |
|
9,039 |
|
|
11/16/07 |
|
USD |
|
|
8,513 |
|
|
8,513 |
|
|
(526 |
) |
|||
|
ZAR |
|
1,525 |
|
221 |
|
|
10/4/07 |
|
USD |
|
|
221 |
|
|
221 |
|
|
@— |
|
|||
|
|
|
|
|
$ |
14,075 |
|
|
|
|
|
|
|
|
$ |
13,556 |
|
|
$ |
(519 |
) |
||
|
EUR |
— Euro |
|
HKD |
— Hong Kong Dollar |
|
IDR |
— Indonesian Rupiah |
|
SGD |
— Singapore Dollar |
|
TRY |
— Turkish Lira |
|
USD |
— United States Dollar |
|
ZAR |
— South African Rand |
Item 2. Controls and Procedures.
(a) The Fund’s principal executive officer and principal financial officer have concluded that the Fund’s disclosure controls and procedures are sufficient to ensure that information required to be disclosed by the Fund in this Form N-Q was recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, based upon such officers’ evaluation of these controls and procedures as of a date within 90 days of the filing date of the report.
(b) There were no changes in the Fund’s internal control over financial reporting that occurred during the registrant’s fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Fund’s internal control over financial reporting.
Item 3. Exhibits.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
(Registrant) |
Morgan Stanley
Emerging Markets Fund, |
|
||
|
By: |
/s/ Ronald E. Robison |
|
||
|
Name: |
Ronald E. Robison |
|
||
|
Title: |
Principal Executive Officer |
|
||
|
Date: |
November 20, 2007 |
|
||
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
|
By: |
/s/ Ronald E. Robison |
|
|
|
Name: |
Ronald E. Robison |
|
|
|
Title: |
Principal Executive Officer |
|
|
|
Date: |
November 20, 2007 |
|
|
|
|
|
|
|
|
By: |
/s/ James Garrett |
|
|
|
Name: |
James Garrett |
|
|
|
Title: |
Principal Financial Officer |
|
|
|
Date: |
November 20, 2007 |
|
|