Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (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

Investment Company Act file number: 811-06520

MANAGERS TRUST I

(Exact name of registrant as specified in charter)

800 Connecticut Avenue, Norwalk, Connecticut 06854

(Address of principal executive offices) (Zip code)

Managers Investment Group LLC

800 Connecticut Avenue, Norwalk, Connecticut 06854

(Name and address of agent for service)

Registrant’s telephone number, including area code: (203) 299-3500

Date of fiscal year end: October 31st

Date of reporting period: JANUARY 31, 2013 (1 ^st Quarter End Portfolio Holdings)

Item 1. SCHEDULE OF INVESTMENTS.

Managers AMG FQ Tax-Managed U.S. Equity Fund

Schedule of Portfolio Investments

January 31, 2013 (unaudited)


	Shares		Value
Common Stocks - 100.0%
Consumer Discretionary - 13.2%
ANN, Inc. ^*		6,200	$	191,208
Bed Bath & Beyond, Inc. ^*		6,400		375,680
Bluegreen Corp. ^*		9,400		90,240
Delphi Automotive PLC ^*		13,000		502,580
Dillard’s, Inc., Class A		9,500		801,895
DIRECTV ^*		17,200		879,608
Discovery Communications, Inc., Class A ^*		1,400		97,132
DISH Network Corp., Class A		11,100		413,697
Gap, Inc., The		14,000		457,520
International Game Technology		3,700		56,869
Liberty Global, Inc., Class A ^*		900		61,461
LIN TV Corp., Class A ^*		55,600		593,252
Nexstar Broadcasting Group, Inc., Class A ^*		11,200		161,056
OfficeMax, Inc.		16,700		180,026
Ross Stores, Inc.		500		29,850
Target Corp.		2,000		120,820
TJX Cos., Inc.		11,600		524,088
Viacom, Inc., Class B		500		30,175
Total Consumer Discretionary				5,567,157
Consumer Staples - 8.7%
Constellation Brands, Inc., Class A ^*		9,000		291,240
CVS Caremark Corp.		4,800		245,760
Ingredion, Inc.		2,100		138,747
Kroger Co., The		20,300		562,310
Philip Morris International, Inc.		12,000		1,057,920
Procter & Gamble Co., The		3,400		255,544
Susser Holdings Corp. ^*		3,500		146,510
Tyson Foods, Inc., Class A		10,200		225,624
Wal-Mart Stores, Inc.		7,400		517,630
Whole Foods Market, Inc.		2,300		221,375
Total Consumer Staples				3,662,660
Energy - 11.1%
Chevron Corp.		12,300		1,416,345
ConocoPhillips		11,000		638,000
CVR Energy, Inc. ^*		1,400		82,250
Exxon Mobil Corp.		14,800		1,331,556
Marathon Petroleum Corp.		4,700		348,787
Occidental Petroleum Corp.		4,000		353,080
Phillips 66		4,600		278,622
Tesoro Corp.		5,000		243,450
Total Energy				4,692,090


	Shares		Value
Financials - 13.7%
American Financial Group, Inc.		1,800	$	76,608
American International Group, Inc. ^*		4,900		185,367
American Tower Corp.		800		60,920
Arch Capital Group, Ltd. ^*		12,700		589,534
Berkshire Hathaway, Inc., Class A ^*		1		145,875
Berkshire Hathaway, Inc., Class B ^*		10,287		997,119
CapitalSource, Inc.		57,700		467,947
Chubb Corp., The		2,200		176,682
Citigroup, Inc.		3,600		151,776
Discover Financial Services		10,500		403,095
FelCor Lodging Trust, Inc. ^*		7,300		39,274
First Citizens BancShares, Inc., Class A		1,600		278,976
Franklin Resources, Inc.		600		82,128
JPMorgan Chase & Co.		10,400		489,320
KeyCorp		25,800		242,520
PNC Financial Services Group, Inc.		2,300		142,140
PrivateBancorp, Inc.		15,300		262,701
Sterling Financial Corp.		16,600		358,394
SunTrust Banks, Inc.		15,800		448,246
World Acceptance Corp. ^*		2,500		193,875
Total Financials				5,792,497
Health Care - 12.9%
AmerisourceBergen Corp.		4,400		199,628
Amgen, Inc.		6,600		564,036
Biogen Idec, Inc. ^*		5,400		842,832
Cambrex Corp. ^*		14,700		172,725
Cantel Medical Corp.		6,800		213,588
CareFusion Corp. ^*		16,000		496,640
Humana, Inc.		4,600		342,056
Johnson & Johnson		3,200		236,544
McKesson Corp.		4,900		515,627
Pfizer, Inc.		5,200		141,856
Sciclone Pharmaceuticals, Inc. ^*		70,200		367,146
SurModics, Inc. ^*		7,300		176,003
UnitedHealth Group, Inc.		13,800		761,898
Warner Chilcott PLC, Class A		28,600		405,262
Total Health Care				5,435,841
Industrials - 11.7%
Alaska Air Group, Inc. ^*		12,500		576,625
Amerco, Inc.		800		107,568
Ceco Environmental Corp.		2,300		25,438
Cummins, Inc.		700		80,381
Delta Air Lines, Inc. ^*		44,100		612,549

Managers AMG FQ Tax-Managed U.S. Equity Fund

Schedule of Portfolio Investments (continued)


	Shares		Value
Industrials - 11.7% (continued)
FedEx Corp.		5,700	$	578,265
General Electric Co.		22,200		494,616
Kadant, Inc. ^*		800		21,496
Oshkosh Corp. ^*		12,900		505,422
Swift Transportation Co. ^*		36,300		495,858
UniFirst Corp.		3,600		294,264
Union Pacific Corp.		3,800		499,548
United Stationers, Inc.		10,200		340,068
United Technologies Corp.		3,000		262,710
US Airways Group, Inc. ^*		4,300		61,404
Total Industrials				4,956,212
Information Technology - 20.1%
Aeroflex Holding Corp. ^*		5,700		39,843
AOL, Inc. ^*		5,000		153,250
Apple, Inc.		2,564		1,167,415
Avnet, Inc. ^*		12,400		438,464
Brocade Communications Systems, Inc. ^*		79,100		452,452
EMC Corp. ^*		18,100		445,441
Google, Inc., Class A ^*		301		227,463
International Business Machines Corp.		6,800		1,380,876
LSI Corp. ^*		25,000		176,000
Mastercard, Inc., Class A		1,600		829,440
Microsoft Corp.		22,700		623,569
Oracle Corp.		23,600		838,036
PC Connection, Inc.		5,900		72,865
Sanmina Corp. ^*		22,100		210,392
SYNNEX Corp. ^*		11,100		399,045
Visa, Inc., Class A		5,800		915,878
Yahoo!, Inc. ^*		2,900		56,927
Zebra Technologies Corp., Class A ^*		800		34,624
Total Information Technology				8,461,980
Materials - 4.5%
AEP Industries, Inc. ^*		2,000		128,760


	Shares		Value
CF Industries Holdings, Inc.		2,200	$	504,174
Domtar Corp.		2,100		174,783
Freeport-McMoRan Copper & Gold, Inc.		2,400		84,600
Graphic Packaging Holding Co. ^*		33,400		234,134
Huntsman Corp.		1,300		22,919
Innospec, Inc.		3,700		148,925
KapStone Paper and Packaging Corp.		2,500		60,000
LyondellBasell Industries N.V., Class A		8,500		539,070
Total Materials				1,897,365
Telecommunication Services - 2.0%
AT&T, Inc.		4,300		149,597
MetroPCS Communications, Inc. ^*		44,700		448,341
United States Cellular Corp. ^*		6,700		254,868
Total Telecommunication Services				852,806
Utilities - 2.1%
AES Corp., The		27,000		292,680
El Paso Electric Co.		7,700		259,413
NRG Energy, Inc.		3,400		81,600
NV Energy, Inc.		1,200		22,716
Public Service Enterprise Group, Inc.		7,200		224,496
Total Utilities				880,905
Total Common Stocks (cost $31,527,677)				42,199,513
Other Investment Companies - 0.6% ¹
Dreyfus Cash Management Fund, Institutional Class Shares, 0.05% (cost $235,165)		235,165		235,165
Total Investments - 100.6% (cost $31,762,842)				42,434,678
Other Assets, less Liabilities - (0.6)%				(257,141	)
Net Assets - 100.0%			$	42,177,537

Managers AMG FQ U.S. Equity Fund

Schedule of Portfolio Investments

January 31, 2013 (unaudited)


	Shares		Value
Common Stocks - 98.8%
Consumer Discretionary - 12.0%
Ameristar Casinos, Inc.		28,500	$	755,250
ANN, Inc. ^*		8,900		274,476
Bed Bath & Beyond, Inc. ^*		700		41,090
Belo Corp., Class A		36,900		312,543
Bluegreen Corp. ^*		11,100		106,560
CBS Corp., Class B		8,200		342,104
Chico’s FAS, Inc.		10,800		193,644
Comcast Corp., Class A		14,600		555,968
Delphi Automotive PLC ^*		3,500		135,310
DIRECTV ^*		500		25,570
EW Scripps Co., Class A ^*		6,900		75,831
Gap, Inc., The		12,800		418,304
Home Depot, Inc., The ²		9,600		642,432
Liberty Interactive Corp., Class A ^*		2,500		53,150
LIN TV Corp., Class A ^*		22,000		234,740
Marriott International Inc., Class A		1,200		47,976
NACCO Industries, Inc., Class A		600		39,096
News Corp., Class A		22,900		635,246
Nexstar Broadcasting Group, Inc., Class A ^*		8,400		120,792
OfficeMax, Inc.		25,600		275,968
Sonic Corp. ^*		18,500		206,460
TJX Cos., Inc.		8,100		365,958
Town Sports International Holdings, Inc.		2,700		28,431
Viacom, Inc., Class B		1,000		60,350
Total Consumer Discretionary				5,947,249
Consumer Staples - 8.6%
Brown-Forman Corp., Class B		450		29,115
Central Garden and Pet Co., Class A ^*		5,800		55,796
Church & Dwight Co., Inc.		600		34,674
Clorox Co., The		5,700		446,937
Colgate-Palmolive Co.		700		75,159
CVS Caremark Corp.		3,300		168,960
Energizer Holdings, Inc.		1,000		87,010
Ingredion, Inc.		10,000		660,700
Kroger Co., The ²		28,900		800,530
Nu Skin Enterprises, Inc., Class A ³		7,300		309,228
Pantry, Inc., The ^*		7,200		90,000
Philip Morris International, Inc. ²		5,600		493,696
Procter & Gamble Co., The ²		6,400		481,024
Safeway, Inc. ³		2,600		50,050
USANA Health Sciences, Inc. ^*		1,000		35,450


	Shares		Value
Walgreen Co.		3,500	$	139,860
Wal-Mart Stores, Inc.		400		27,980
Whole Foods Market, Inc.		2,900		279,125
Total Consumer Staples				4,265,294
Energy - 9.9%
Chevron Corp. ²		9,700		1,116,955
ConocoPhillips ²		7,800		452,400
Exxon Mobil Corp. ²		17,900		1,610,463
Helmerich & Payne, Inc.		1,900		122,246
HollyFrontier Corp.		1,500		78,330
Occidental Petroleum Corp. ²		3,700		326,599
RPC, Inc.		20,800		311,376
Schlumberger, Ltd.		700		54,635
Tesoro Corp.		3,700		180,153
Valero Energy Corp.		14,800		647,204
Total Energy				4,900,361
Financials - 15.2%
Aflac, Inc.		11,900		631,414
AG Mortgage Investment Trust, Inc.		1,800		45,720
Alexander’s, Inc.		100		33,286
Allied World Assurance Co. Holdings AG		700		59,381
Allstate Corp., The		5,900		259,010
American Express Co. ²		13,400		788,054
American International Group, Inc. ^*		1,500		56,745
American Tower Corp.		1,300		98,995
Bank of America Corp.		32,900		372,428
Berkshire Hathaway, Inc., Class B ^*		3,000		290,790
Capstead Mortgage Corp.		35,900		444,442
Cathay General Bancorp		2,700		52,407
Citigroup, Inc.		7,200		303,552
Discover Financial Services		5,700		218,823
Dynex Capital, Inc.		6,300		63,693
Everest Re Group, Ltd.		400		46,324
First Citizens BancShares, Inc., Class A		200		34,872
First Merchants Corp.		3,200		48,160
Franklin Resources, Inc.		500		68,440
Goldman Sachs Group, Inc., The		1,500		221,790
Horace Mann Educators Corp.		7,200		156,528
Hospitality Properties Trust		7,600		191,672
JAVELIN Mortgage Investment Corp.		2,500		49,375
JPMorgan Chase & Co.		11,500		541,075
KeyCorp		37,300		350,620
Lexington Realty Trust		5,300		58,300
Morgan Stanley		4,500		102,825

Managers AMG FQ U.S. Equity Fund

Schedule of Portfolio Investments (continued)


	Shares		Value
Financials - 15.2% (continued)
Old National Bancorp		3,700	$	49,432
Republic Bancorp, Inc., Class A		8,300		186,501
Simon Property Group, Inc.		1,600		256,288
Sterling Financial Corp.		8,300		179,197
SunTrust Banks, Inc.		11,200		317,744
Torchmark Corp.		1,700		94,707
Two Harbors Investment Corp.		25,300		314,226
Wells Fargo & Co.		14,800		515,484
Winthrop Realty Trust		4,300		51,385
Total Financials				7,553,685
Health Care - 12.1%
Amgen, Inc.		2,300		196,558
AMN Healthcare Services, Inc. ^*		3,100		37,665
Cambrex Corp. ^*		12,000		141,000
Cantel Medical Corp.		3,100		97,371
CareFusion Corp. ^*		9,400		291,776
HealthSouth Corp. ^*		4,200		100,212
Magellan Health Services, Inc. ^*		2,900		148,770
Medtronic, Inc.		18,100		843,460
Merck & Co., Inc.		11,900		514,675
PDL BioPharma, Inc.		53,300		366,704
Pfizer, Inc. ²		46,100		1,257,608
PharMerica Corp. ^*		16,900		244,712
Sciclone Pharmaceuticals, Inc. ^*		38,500		201,355
Select Medical Holdings Corp.		6,000		58,440
STERIS Corp.		8,000		301,840
UnitedHealth Group, Inc. ²		9,800		541,058
Warner Chilcott PLC, Class A		35,000		495,950
Zimmer Holdings, Inc.		2,000		149,200
Total Health Care				5,988,354
Industrials - 10.7%
Alaska Air Group, Inc. ^*		5,600		258,328
Amerco, Inc.		1,900		255,474
Copart, Inc. ^*		3,600		129,276
Danaher Corp.		3,200		191,776
Deluxe Corp.		7,800		286,962
Emerson Electric Co.		1,100		62,975
EnerSys, Inc. ^*		1,400		57,302
FedEx Corp.		2,700		273,915
General Electric Co.		13,500		300,780
Hyster-Yale Materials Handling, Inc.		600		30,108
Lincoln Electric Holdings, Inc.		900		48,537
Northrop Grumman Corp.		6,200		403,248
Parker Hannifin Corp.		900		83,673


	Shares		Value
Rockwell Automation, Inc.		800	$	71,352
Southwest Airlines Co.		63,700		714,077
Steelcase, Inc., Class A		16,900		230,347
Swift Transportation Co. ^*		5,100		69,666
UniFirst Corp.		7,500		613,050
Union Pacific Corp.		6,500		854,490
United Parcel Service, Inc., Class B		1,000		79,290
United Technologies Corp. ²		400		35,028
Viad Corp.		9,000		251,280
Total Industrials				5,300,934
Information Technology - 19.1%
Activision Blizzard, Inc.		38,100		433,959
AOL, Inc. ^*		2,800		85,820
Apple, Inc. ²		2,301		1,047,668
Brocade Communications Systems, Inc. ^*		87,300		499,356
CA, Inc.		1,200		29,784
Cisco Systems, Inc.		47,200		970,904
Computer Sciences Corp.		10,100		422,180
CSG Systems International, Inc. ^*		4,800		90,384
Daktronics, Inc.		17,300		205,178
GSI Group, Inc. ^*		11,350		107,825
Harris Corp.		8,300		383,460
Hewlett-Packard Co.		2,100		34,671
Insight Enterprises, Inc. ^*		2,900		56,840
International Business Machines Corp. ²		5,200		1,055,964
LSI Corp. ^*		57,300		403,392
Mastercard, Inc., Class A		340		176,256
Microsoft Corp. ²		44,100		1,211,427
Oracle Corp. ²		14,700		521,997
Power-One, Inc. ^*		36,400		146,328
TeleTech Holdings, Inc. ^*		2,800		52,360
Visa, Inc., Class A ²		5,800		915,878
Western Union Co., The		8,200		116,686
Zebra Technologies Corp., Class A ^*		11,000		476,080
Total Information Technology				9,444,397
Materials - 5.5%
A. Schulman, Inc.		4,600		147,890
AEP Industries, Inc. ^*		1,000		64,380
Celanese Corp.		1,300		60,944
CF Industries Holdings, Inc.		3,200		733,344
FutureFuel Corp.		8,100		103,275
Huntsman Corp.		5,200		91,676
Innospec, Inc.		1,500		60,375
LyondellBasell Industries N.V., Class A		13,100		830,802
Monsanto Co.		1,300		131,755

Managers AMG FQ U.S. Equity Fund

Schedule of Portfolio Investments (continued)


	Shares		Value
Materials - 5.5% (continued)
Schweitzer-Mauduit International, Inc.		10,200	$	415,548
Westlake Chemical Corp.		800		73,488
Total Materials				2,713,477
Telecommunication Services - 3.3%
AT&T, Inc.		23,900		831,481
MetroPCS Communications, Inc. ^*		24,800		248,744
Verizon Communications, Inc. ²		12,500		545,125
Total Telecommunication Services				1,625,350
Utilities - 2.4%
American Electric Power Co., Inc.		13,100		593,299
DTE Energy Co.		9,400		595,114
Total Utilities				1,188,413
Total Common Stocks (cost $41,268,682)				48,927,514

	Number of
	Contracts
Purchased Options - 0.1%
S&P 500 Puts, 1390 Strike Price, Expiration 02/16/13		245		24,500
S&P 500 Puts, 1420 Strike Price, Expiration 02/16/13		100		16,400
Total Purchased Options (cost $127,018)				40,900


	Principal		Value
Short-Term Investments - 1.2%
Repurchase Agreements - 0.7% ⁴
RBC Capital Markets LLC, dated 01/31/13,due 02/01/13, 0.120%, total to be received $331,695 (secured by U.S. Government Agencies, 0.000% - 4.000%, 06/06/13 - 07/15/22, totaling $338,330)	$	331,694	$	331,694

	Shares
Other Investment Companies - 0.5% ¹
Dreyfus Cash Management Fund, Institutional Class Shares, 0.05%		261,999		261,999
Total Short-Term Investments (cost $593,693)				593,693
Total Investments - 100.1% (cost $41,989,393)				49,562,107
Other Assets, less Liabilities - (0.1)%				(27,995	)
Net Assets - 100.0%			$	49,534,112

Managers AMG FQ Global Alternatives Fund

Schedule of Portfolio Investments

January 31, 2013 (unaudited)


	Shares		Value
Exchange Traded Funds - 20.3%
SPDR S&P 500 ETF Trust (cost $24,956,984)		222,118	$	33,251,065

	Principal Amount
U.S. Government and Agency Obligations - 29.3%
U.S. Treasury Bills, 0.079%, 05/30/13 ^5,6	$	28,625,000		28,617,500
0.084%, 06/20/13 to 06/27/13 ^5,6		19,480,000		19,473,778
Total U.S. Government and Agency Obligations (cost $48,086,261)				48,091,278

	Shares
Other Investment Companies - 52.1% ¹
Dreyfus Cash Management Fund, Institutional Class Shares, 0.05%		29,511,308		29,511,308
JPMorgan Liquid Assets Money Market Fund, Capital Shares, 0.11%		55,855,916		55,855,916
Total Other Investment Companies (cost $85,367,224)				85,367,224
Total Investments - 101.7% (cost $158,410,469)				166,709,567
Other Assets, less Liabilities - (1.7)%				(2,723,193	)
Net Assets - 100.0%			$	163,986,374

Managers AMG FQ Global Essentials Fund

Schedule of Portfolio Investments

January 31, 2013 (unaudited)


	Shares		Value
Exchange Traded Funds - 40.7%
iShares Barclays TIPS Bond Fund		199,847	$	24,137,520
iShares iBoxx $ High Yield Corporate Bond Fund ³		94,407		8,843,104
Jefferies TR/J CRB Global Commodity Equity Index Fund		38,343		1,790,231
Market Vectors RVE Hard Assets Producers		47,794		1,793,709
Materials Select Sector SPDR Fund ³		46,559		1,816,732
SPDR DB International Government Inflation-Protected Bond		85,090		5,404,917
Vanguard REIT		67,854		4,631,714
Total Exchange Traded Funds (cost $45,926,796)				48,417,927
Exchange Traded Notes - 12.1%
Barclays, Inc., iPath Dow Jones-UBS Copper Subindex Total Return, 10/22/37		44,406		2,093,743
Barclays, Inc., iPath Dow Jones-UBS Grains Subindex Total Return, 10/22/37		23,026		1,269,193
Barclays, Inc., iPath Goldman Sachs Crude Oil Total Return Index, 08/07/36		54,021		1,249,506
Deutsche Bank AG, PowerShares DB Agriculture Double Long, 04/01/38		97,421		1,136,659
Deutsche Bank AG, PowerShares DB Gold Double Long, 02/15/38		66,621		3,422,321
Swedish Export Credit Corp., ELEMENTS Linked to the Rogers International Commodity Index - Total Return, 10/24/22		575,505		5,162,280
Total Exchange Traded Notes (cost $14,578,888)				14,333,702

	Principal Amount
U.S. Government and Agency Obligations - 7.6%
U.S. Treasury Bills, 0.079%, 05/30/13 ^5,6 (cost $8,996,460)	$	9,000,000		8,997,714
Short-Term Investments - 48.0%
Repurchase Agreements - 8.8% ⁴
Barclays Capital, Inc., dated 01/31/13, due 02/01/13, 0.150%, total to be received $1,000,004 (secured by U.S. Government Agencies, 3.500% - 4.000%, 05/01/42 - 07/01/42, totaling $1,020,000)		1,000,000		1,000,000
BNP Paribas Securities Corp., dated 01/31/13, due 02/01/13, 0.160%, total to be received $2,434,421 (secured by U.S. Government Agencies, 4.000% - 4.500%, 06/20/41 - 05/20/42, totaling $2,483,098)		2,434,410		2,434,410
Daiwa Capital Markets, dated 01/31/13, due 02/01/13, 0.190%, total to be received $1,000,005 (secured by U.S. Government Agencies, 0.000% - 6.113%, 05/02/13 - 02/01/43, totaling $1,020,000)		1,000,000		1,000,000
Deutsche Bank Securities, Inc., dated 01/31/13, due 02/01/13, 0.170%, total to be received $2,000,009 (secured by U.S. Government Agencies, 2.500% - 7.500%, 05/01/13 - 01/01/43, totaling $2,040,000)		2,000,000		2,000,000
Goldman Sachs & Co. Inc., dated 01/31/13, due 02/01/13, 0.160%, total to be received $1,000,004 (secured by U.S. Government Agencies, 2.226% - 4.500%, 11/01/27 - 01/01/43, totaling $1,020,000)		1,000,000		1,000,000
JPMorgan Securities LLC, dated 01/31/13, due 02/01/13, 0.160%, total to be received $1,000,004 (secured by U.S. Government Agencies, 1.274% - 9.200%, 06/01/13 - 02/01/51, totaling $1,020,001)		1,000,000		1,000,000
Merrill Lynch, Pierce, Fenner & Smith, Inc., dated 01/31/13, due 02/01/13, 0.170%, total to be received $2,000,009 (secured by U.S. Government Agencies, 3.500% - 4.500%, 07/20/41 - 01/01/43, totaling $2,040,000)		2,000,000		2,000,000
Total Repurchase Agreements				10,434,410

Managers AMG FQ Global Essentials Fund

Schedule of Portfolio Investments (continued)


	Shares		Value
Other Investment Companies - 39.2% ¹
Dreyfus Cash Management Fund, Institutional Class Shares, 0.05%		21,550,481	$	21,550,481
JPMorgan Liquid Assets Money Market Fund, Capital Shares, 0.11%		25,124,103		25,124,103
Total Other Investment Companies				46,674,584
Total Short-Term Investments (cost $57,108,994)				57,108,994
Total Investments - 108.4% (cost $126,611,138)				128,858,337
Other Assets, less Liabilities - (8.4)%				(9,941,867	)
Net Assets - 100.0%			$	118,916,470

Managers Frontier Small Cap Growth Fund

Schedule of Portfolio Investments

January 31, 2013 (unaudited)


	Shares		Value
Common Stocks - 96.7%
Consumer Discretionary - 9.5%
Bright Horizons Family Solutions, Inc. ^*		800	$	22,400
Cheesecake Factory, Inc., The		12,100		401,236
Chico’s FAS, Inc.		59,000		1,057,870
Hanesbrands, Inc. ^*		10,300		386,044
Harman International Industries, Inc.		29,100		1,303,098
Imax Corp. ^*,3		26,000		614,380
K12, Inc. ^*		33,600		620,256
LKQ Corp. ^*		24,300		544,077
Monro Muffler Brake, Inc. ³		17,700		641,094
rue21, Inc. ^*		23,200		689,272
Select Comfort Corp. ^*		49,100		1,081,182
Tilly’s, Inc., Class A ^*		25,080		371,686
Tractor Supply Co.		4,000		414,680
Vera Bradley, Inc. ^*		13,600		343,944
Total Consumer Discretionary				8,491,219
Energy - 6.2%
Atwood Oceanics, Inc. ^*		9,500		501,315
Bonanza Creek Energy, Inc. ^*		14,200		438,496
Carrizo Oil & Gas, Inc. ^*		47,600		1,022,448
Hornbeck Offshore Services, Inc. ^*		14,200		522,702
InterOil Corp. ^*,3		10,500		626,640
KiOR, Inc., Class A ^*		71,900		395,450
World Fuel Services Corp.		47,600		2,052,036
Total Energy				5,559,087
Financials - 13.0%
Allied World Assurance Co. Holdings AG		15,700		1,331,831
Endurance Specialty Holdings, Ltd.		7,200		309,024
Fidelity National Financial, Inc., Class A		12,700		318,770
Jefferies Group, Inc.		71,200		1,419,016
Jones Lang LaSalle, Inc.		9,400		866,116
Raymond James Financial, Inc.		73,600		3,284,768
Signature Bank ^*		16,300		1,205,059
Waddell & Reed Financial, Inc., Class A		43,900		1,742,830
WR Berkley Corp.		29,800		1,226,866
Total Financials				11,704,280
Health Care - 17.1%
Centene Corp. ^*		20,800		897,728
Charles River Laboratories International, Inc. ^*		6,700		276,844
CONMED Corp.		16,500		484,605
Covance, Inc. ^*		13,600		907,256
Cumberland Pharmaceuticals, Inc. ^*		11,100		46,620


	Shares		Value
Dendreon Corp. ^*		35,400	$	208,152
DexCom, Inc. ^*		59,200		901,616
Fluidigm Corp. ^*		10,100		166,650
Greenway Medical Technologies ^*		21,800		324,820
Illumina, Inc. ^*,3		19,300		977,159
Insulet Corp. ^*		39,750		917,032
MAKO Surgical Corp. ^*		62,510		724,491
Medidata Solutions, Inc. ^*		10,500		491,295
MEDNAX, Inc. ^*		40,900		3,499,404
Myriad Genetics, Inc. ^*		29,500		798,270
Onyx Pharmaceuticals, Inc. ^*		13,600		1,054,272
PerkinElmer, Inc.		19,100		673,084
Seattle Genetics, Inc. ^*,3		22,200		653,790
Sirona Dental Systems, Inc. ^*		7,600		505,172
Unilife Corp. ^*		86,100		191,142
United Therapeutics Corp. ^*		13,000		700,570
Total Health Care				15,399,972
Industrials - 32.5%
A. O. Smith Corp.		19,200		1,330,176
Advisory Board Co., The ^*		27,200		1,475,056
Ameresco, Inc., Class A ^*		15,300		150,552
Belden, Inc.		38,500		1,853,775
Carlisle Cos., Inc.		18,500		1,186,775
CLARCOR, Inc.		18,600		938,556
Hub Group, Inc., Class A ^*		27,200		1,001,232
Insperity, Inc.		34,000		1,143,420
Kaman Corp.		26,100		948,474
KAR Auction Services, Inc.		45,150		963,050
Landstar System, Inc.		16,000		912,640
MasTec, Inc. ^*		149,200		4,222,360
Meritor, Inc. ^*		97,900		446,424
Mine Safety Appliances Co.		16,200		748,764
MRC Global, Inc. ^*		42,664		1,311,065
Pall Corp.		20,600		1,406,980
Primoris Services Corp.		23,800		456,484
Quanta Services, Inc. ^*		40,700		1,179,079
RPX Corp. ^*		52,900		551,747
Team, Inc. ^*		16,500		722,865
UTi Worldwide, Inc.		12,000		177,120
WABCO Holdings, Inc. ^*		30,300		1,898,598
Waste Connections, Inc.		27,600		994,152
Watsco, Inc.		25,200		1,898,820
WESCO International, Inc. ^*		17,500		1,276,275
Total Industrials				29,194,439

Managers Frontier Small Cap Growth Fund

Schedule of Portfolio Investments (continued)


	Shares		Value
Information Technology - 14.2%
Advent Software, Inc. ^*		11,300	$	278,545
Cadence Design Systems, Inc. ^*		72,300		1,007,139
comScore, Inc. ^*		17,084		251,647
Constant Contact, Inc. ^*		26,900		405,114
Cypress Semiconductor Corp. ^*		12,700		130,429
FEI Co.		2,300		140,208
Fortinet, Inc. ^*		9,300		219,387
Heartland Payment Systems, Inc.		21,400		679,664
Ingram Micro, Inc., Class A ^*		48,400		879,912
Intevac, Inc. ^*		16,300		68,623
Jabil Circuit, Inc.		22,000		416,020
Jack Henry & Associates, Inc.		26,600		1,103,368
LogMeln, Inc. ^*		10,800		245,160
Microsemi Corp. ^*		30,500		638,060
Monolithic Power Systems, Inc.		11,500		267,950
ON Semiconductor Corp. ^*		24,700		193,895
QuinStreet, Inc. ^*		83,200		469,248
Rogers Corp. ^*		5,900		276,474
Synaptics, Inc. ^*		4,800		168,384
Synchronoss Technologies, Inc. ^*		12,600		300,006
Tessera Technologies, Inc.		101,520		1,781,676
Verint Systems, Inc. ^*		8,000		270,400
Virtusa Corp. ^*		47,300		979,583
Web.com Group, Inc. ^*		40,690		659,178
WEX, Inc. ^*		11,400		896,154
Total Information Technology				12,726,224
Materials - 1.6%
Albemarle Corp.		13,700		839,947
Globe Specialty Metals, Inc.		18,600		281,976
RTI International Metals, Inc. ^*		12,600		357,840
Total Materials				1,479,763
Telecommunication Services - 2.6%
Cogent Communications Group, Inc.		47,100		1,166,667
NII Holdings, Inc. ^*		74,100		518,700
Premiere Global Services, Inc. ^*		67,900		636,223
Total Telecommunication Services				2,321,590
Total Common Stocks (cost $72,171,814)				86,876,574


	Shares		Value
Warrants - 0.0% ^#
Magnum Hunter Resources Corp., 10/14/13 ³ (cost $0)		9,870	$	1,382

	Principal
Short-Term Investments - 7.1%
Repurchase Agreements - 3.8% ⁴
Citigroup Global Markets Inc., dated 01/31/13, due 02/01/13, 0.170%, total to be received $1,000,005 (secured by U.S. Government Agencies, 0.791% - 5.500%, 02/01/19 - 02/01/43, totaling $1,020,000)	$	1,000,000		1,000,000
Merrill Lynch, Pierce, Fenner & Smith Inc., dated 01/31/13, due 02/01/13, 0.170%, total to be received $1,000,005 (secured by U.S. Government Agencies, 3.500% - 4.500%, 07/20/41 - 09/01/42, totaling $1,020,000)		1,000,000		1,000,000
Mizuho Securities USA, Inc., dated 01/31/13, due 02/01/13, 0.190%, total to be received $1,000,005 (secured by U.S. Government Agencies, 1.771% - 9.500%, 02/01/13 - 06/01/42, totaling $1,020,000)		1,000,000		1,000,000
RBC Capital Markets LLC, dated 01/31/13, due 02/01/13, 0.120%, total to be received $420,256 (secured by U.S. Government Agencies, 0.000% - 4.000%, 06/06/13 - 07/15/22, totaling $428,663)		420,255		420,255
Total Repurchase Agreements				3,420,255

	Shares
Other Investment Companies - 3.3% ¹
Dreyfus Cash Management Fund, Institutional Class Shares, 0.05%		3,009,357		3,009,357
Total Short-Term Investments (cost $6,429,612)				6,429,612
Total Investments - 103.8% (cost $78,601,426)				93,307,568
Other Assets, less Liabilities - (3.8)%				(3,438,649	)
Net Assets - 100.0%			$	89,868,919

Managers AMG TSCM Growth Equity Fund

Schedule of Portfolio Investments

January 31, 2013 (unaudited)


	Shares		Value
Common Stocks - 99.7%
Consumer Discretionary - 11.2%
Coach, Inc.		12,500	$	637,500
GNC Holdings, Inc., Class A		22,750		817,635
Starbucks Corp.		15,935		894,272
Virgin Media, Inc.		21,030		828,372
Total Consumer Discretionary				3,177,779
Consumer Staples - 7.2%
Costco Wholesale Corp.		8,235		842,770
Estee Lauder Cos. Inc., The, Class A		10,565		643,725
Mead Johnson Nutrition Co.		7,300		554,800
Total Consumer Staples				2,041,295
Energy - 4.6%
Anadarko Petroleum Corp.		8,330		666,567
National Oilwell Varco, Inc.		8,630		639,828
Total Energy				1,306,395
Financials - 8.0%
American Tower Corp.		12,335		939,310
IntercontinentalExchange, Inc. ^*		4,195		582,056
Marsh & McLennan Cos., Inc.		21,470		761,756
Total Financials				2,283,122
Health Care - 11.1%
Allergan, Inc.		7,195		755,547
Celldex Therapeutics, Inc. ^*		60,745		453,158
DaVita HealthCare Partners, Inc. ^*		9,830		1,134,480
GlaxoSmithKline PLC, Sponsored ADR		18,060		823,717
Total Health Care				3,166,902
Industrials - 21.6%
Altra Holdings, Inc.		18,150		434,692
AMETEK, Inc.		11,055		453,144
Caterpillar, Inc.		3,690		363,059
Clean Harbors, Inc. ^*		19,525		1,085,395
Corporate Executive Board Co., The		14,255		714,318


	Shares		Value
Danaher Corp.		9,560	$	572,931
Nielsen Holdings N.V. ^*		30,555		993,343
United Parcel Service, Inc., Class B		11,130		882,498
WESCO International, Inc. ^*		8,890		648,348
Total Industrials				6,147,728
Information Technology - 36.0%
Alliance Data Systems Corp. ^*		4,295		676,892
Altera Corp.		22,310		745,600
Apple, Inc.		3,262		1,485,221
ASML Holding N.V.		10,060		755,405
Citrix Systems, Inc. ^*		11,390		833,292
eBay, Inc. ^*		19,100		1,068,263
Google, Inc., Class A ^*		1,159		875,845
Intuit, Inc.		11,085		691,482
Mastercard, Inc., Class A		1,124		582,682
NeuStar, Inc., Class A ^*		18,795		848,406
QUALCOMM, Inc.		8,560		565,217
Teradata Corp. ^*		10,050		669,933
VMware, Inc., Class A ^*		5,485		419,493
Total Information Technology				10,217,731
Total Common Stocks (cost $24,018,767)				28,340,952
Other Investment Companies - 2.0% ¹
Dreyfus Cash Management Fund, Institutional Class Shares, 0.05% (cost $563,750)		563,750		563,750
Total Investments - 101.7% (cost $24,582,517)				28,904,70 2
Other Assets, less Liabilities - (1.7)%				(493,372	)
Net Assets - 100.0%			$	28,411,330

Managers Micro-Cap Fund

Schedule of Portfolio Investments

January 31, 2013 (unaudited)


	Shares		Value
Common Stocks - 96.9%
Consumer Discretionary - 16.3%
Acquity Group, Ltd., Sponsored ADR ^*		18,897	$	130,578
Arctic Cat, Inc. ^*		6,261		226,273
Asbury Automotive Group, Inc. ^*		12,065		429,031
Big 5 Sporting Goods Corp.		11,600		160,892
Books-A-Million, Inc. ^*		18,600		45,570
Bridgepoint Education, Inc. ^*		17,100		180,405
Carrols Restaurant Group, Inc. ^*		12,600		79,002
Casual Male Retail Group, Inc. ^*		275,120		1,262,801
Chuy’s Holdings, Inc. ^*		42,882		1,216,991
Core-Mark Holding Co., Inc.		5,233		262,330
Culp, Inc.		5,700		99,750
Delta Apparel, Inc. ^*		42,700		617,015
Destination Maternity Corp.		14,985		341,208
Einstein Noah Restaurant Group, Inc.		21,000		269,850
Famous Dave’s Of America, Inc. ^*		9,125		85,410
Fiesta Restaurant Group, Inc. ^*		10,200		181,662
Fred’s, Inc., Class A		11,950		157,979
Frisch’s Restaurants, Inc.		4,600		84,042
Gordmans Stores, Inc. ^*		32,700		390,438
Grand Canyon Education, Inc. ^*		47,433		1,131,751
Harte-Hanks, Inc.		14,800		121,212
Haverty Furniture Cos., Inc.		10,350		186,300
Hooker Furniture Corp.		11,585		174,934
Hovnanian Enterprises, Inc., Class A ^*		75,243		429,638
iRobot Corp. ^*		2,997		68,571
Johnson Outdoors, Inc., Class A ^*		3,825		82,161
Kona Grill, Inc. ^*		9,900		83,655
Libbey, Inc. ^*		12,300		230,994
LifeLock, Inc. ^*		59,400		557,172
Lifetime Brands, Inc.		7,300		77,672
Lithia Motors, Inc., Class A		14,599		631,699
Lumber Liquidators Holdings, Inc. ^*		5,424		320,992
M/I Homes, Inc. ^*		26,651		725,973
Mac-Gray Corp.		25,204		304,212
Marcus Corp.		25,325		336,822
Modine Manufacturing Co. ^*		19,400		164,512
Multimedia Games Holding Co., Inc. ^*		18,350		310,849
Red Robin Gourmet Burgers, Inc. ^*		15,900		587,823
Rentrak Corp. ^*		13,086		268,001
RG Barry Corp.		95,186		1,273,589
Rocky Brands, Inc. ^*		6,025		85,073


	Shares		Value
rue21, Inc. ^*		17,925	$	532,552
Ruth’s Hospitality Group, Inc. ^*		33,100		256,856
Saga Communications, Inc., Class A		2,400		112,800
Shutterstock, Inc. ^*		20,406		514,843
Smith & Wesson Holding Corp. ^*		71,600		615,760
SodaStream International, Ltd. ^*		29,020		1,395,572
Standard Motor Products, Inc.		14,550		337,705
Stein Mart, Inc.		19,300		162,892
Steinway Musical Instruments, Inc.		68,349		1,520,082
Tile Shop Holdings, Inc. ^*		70,027		1,287,796
Tower International, Inc. ^*		8,500		82,365
Town Sports International Holdings, Inc.		15,100		159,003
TRI Pointe Homes, Inc. ^*		18,314		348,882
True Religion Apparel, Inc.		18,100		429,151
Universal Electronics, Inc. ^*		75,900		1,449,690
West Marine, Inc. ^*		15,600		186,888
Zagg, Inc. ^*		74,400		514,848
Total Consumer Discretionary				24,282,517
Consumer Staples - 2.0%
Alico, Inc.		4,500		196,065
Annie’s, Inc. ^*		16,530		592,766
Boulder Brands, Inc. ^*		39,233		526,899
Farmer Bros Co. ^*		7,200		96,768
Nash Finch Co.		20,500		425,785
Natural Grocers by Vitamin Cottage, Inc. ^*		3,655		75,074
Pantry, Inc., The ^*		18,775		234,688
Spartan Stores, Inc.		22,750		369,460
SunOpta, Inc. ^*		54,200		388,072
Total Consumer Staples				2,905,577
Energy - 3.9%
Bolt Technology Corp.		5,600		83,440
Dawson Geophysical Co. ^*		9,600		256,512
GasLog, Ltd.		49,900		634,728
Geospace Technologies Corp. ^*		18,471		1,665,345
Gulf Island Fabrication, Inc.		14,291		331,837
Gulfport Energy Corp. ^*		34,900		1,440,323
Natural Gas Services Group, Inc. ^*		10,150		184,628
Panhandle Oil And Gas, Inc., Class A		5,950		170,111
RigNet, Inc. ^*		43,550		932,841
TGC Industries, Inc.		10,535		95,868
Total Energy				5,795,633
Financials - 12.1%
Altisource Asset Management Corp. ^*		2,192		275,644

Managers Micro-Cap Fund

Schedule of Portfolio Investments (continued)


	Shares		Value
Financials - 12.1% (continued)
AMERISAFE, Inc. ^*		48,775	$	1,396,916
Associated Estates Realty Corp.		21,018		339,441
Asta Funding, Inc.		48,800		462,136
Boston Private Financial Holdings, Inc.		26,300		243,275
Cardinal Financial Corp.		15,250		249,185
Chatham Lodging Trust		11,600		182,700
CoBiz Financial, Inc.		33,100		270,096
Community Trust Bancorp, Inc.		9,961		335,785
Compass Diversified Holdings		72,700		1,150,114
Eagle Bancorp, Inc. ^*		3,900		87,984
Eastern Insurance Holdings, Inc.		4,900		89,964
eHealth, Inc. ^*		29,050		707,949
EMC Insurance Group, Inc.		3,800		94,848
Encore Capital Group, Inc. ^*		23,328		701,940
Financial Institutions, Inc.		8,775		176,290
First Community Bancshares, Inc.		10,800		172,260
First Merchants Corp.		17,550		264,128
Flushing Financial Corp.		20,850		330,264
Heartland Financial USA, Inc.		2,875		68,109
HFF, Inc., Class A		18,145		316,449
Hilltop Holdings, Inc. ^*		15,830		208,006
Home BancShares, Inc.		6,400		222,208
Home Loan Servicing Solutions, Ltd.		15,099		328,252
Kite Realty Group Trust		29,700		179,685
Lakeland Financial Corp.		12,900		315,276
LaSalle Hotel Properties		16,600		453,180
Marlin Business Services Corp.		26,588		584,936
Meadowbrook Insurance Group, Inc.		29,083		182,350
National Bankshares, Inc.		7,700		260,568
National Interstate Corp.		26,700		814,350
Netspend Holdings, Inc. ^*		39,145		424,332
Northrim BanCorp, Inc.		33,126		721,484
OceanFirst Financial Corp.		12,550		178,085
OmniAmerican Bancorp, Inc. ^*		6,800		168,708
Pacific Continental Corp.		8,500		93,415
Piper Jaffray Cos. ^*		27,042		1,047,337
Ramco-Gershenson Properties Trust		18,750		283,500
SeaBright Holdings, Inc.		22,200		246,198
Southwest Bancorp, Inc. ^*		15,200		194,712
SY Bancorp, Inc.		14,090		318,575
Territorial Bancorp, Inc.		7,525		172,398
Tree.com, Inc.		10,300		180,044
Union First Market Bankshares Corp.		5,300		92,644
United Financial Bancorp, Inc.		11,100		166,167


	Shares		Value
Urstadt Biddle Properties, Inc., Class A		8,400	$	170,016
ViewPoint Financial Group, Inc.		13,040		275,796
Walker & Dunlop, Inc. ^*		25,600		549,888
Washington Banking Co.		32,300		455,107
Washington Trust Bancorp, Inc.		9,675		255,033
West Bancorporation, Inc.		7,825		86,623
Western Alliance Bancorp ^*		35,560		437,388
Total Financials				17,981,738
Health Care - 16.1%
ABIOMED, Inc. ^*		19,068		265,999
ACADIA Pharmaceuticals, Inc. ^*		65,741		396,418
Achillion Pharmaceuticals, Inc. ^*		69,332		622,601
Aegerion Pharmaceuticals, Inc. ^*		29,018		821,500
Albany Molecular Research, Inc. ^*		15,600		93,132
AMN Healthcare Services, Inc. ^*		22,200		269,730
Anika Therapeutics, Inc. ^*		17,300		183,726
Array BioPharma, Inc. ^*		63,964		241,144
BioScrip, Inc. ^*		121,975		1,369,779
Cadence Pharmaceuticals, Inc. ^*		80,106		378,901
Cantel Medical Corp.		10,662		334,893
Celldex Therapeutics, Inc. ^*		117,722		878,206
Conceptus, Inc. ^*		14,523		300,045
Cross Country Healthcare, Inc. ^*		32,700		184,755
Cutera, Inc. ^*		40,363		443,993
Cynosure, Inc., Class A ^*		28,275		754,943
DexCom, Inc. ^*		52,835		804,677
Endologix, Inc. ^*		70,664		1,083,279
Ensign Group, Inc., The		5,475		156,366
Exactech, Inc. ^*		34,900		669,731
Fluidigm Corp. ^*		37,276		615,054
GenMark Diagnostics, Inc. ^*		49,602		533,718
Genomic Health, Inc. ^*		2,381		66,787
HealthStream, Inc. ^*		27,336		677,386
Infinity Pharmaceuticals, Inc. ^*		16,383		564,394
Insulet Corp. ^*		43,781		1,010,027
Intercept Pharmaceuticals, Inc. ^*		1,200		48,468
IPC The Hospitalist Co., Inc. ^*		7,900		336,856
Keryx Biopharmaceuticals, Inc. ^*		72,163		655,240
LipoScience, Inc. ^*		43,000		451,500
Meridian Bioscience, Inc.		18,700		391,765
MWI Veterinary Supply, Inc. ^*		3,208		360,290
Natus Medical, Inc. ^*		27,000		332,640
Novadaq Technologies, Inc. ^*		45,200		424,428
PharMerica Corp. ^*		11,700		169,416

Managers Micro-Cap Fund

Schedule of Portfolio Investments (continued)


	Shares		Value
Health Care - 16.1% (continued)
Pozen, Inc. ^*		14,800	$	78,588
Puma Biotechnology, Inc. ^*		16,660		385,512
RTI Biologics, Inc. ^*		36,800		181,056
Santarus, Inc. ^*		31,979		427,239
Sarepta Therapeutics, Inc. ^*		28,627		774,360
Spectranetics Corp. ^*		55,284		921,031
SurModics, Inc. ^*		41,547		1,001,698
US Physical Therapy, Inc.		49,576		1,219,570
Utah Medical Products, Inc.		2,400		96,480
Vascular Solutions, Inc. ^*		44,018		735,541
Vocera Communications, Inc. ^*		41,503		1,089,869
Young Innovations, Inc.		4,147		163,682
Total Health Care				23,966,413
Industrials - 19.8%
Acacia Research Corp. ^*		44,200		1,128,426
ACCO Brands Corp. ^*		100,400		836,332
Aceto Corp.		16,100		168,084
Air Transport Services Group, Inc. ^*		136,500		634,725
Alamo Group, Inc.		7,559		256,704
Allied Defense Group, Inc., The ^*,7		38,600		121,590
American Railcar Industries, Inc.		10,843		426,564
American Woodmark Corp. ^*		10,208		283,884
Apogee Enterprises, Inc.		16,935		414,061
Astronics Corp. ^*		21,470		491,878
Astronics Corp., Class B ^*		2,556		52,398
AZZ, Inc.		39,100		1,673,089
CAI International, Inc. ^*		15,025		376,827
CDI Corp.		5,100		86,802
Ceco Environmental Corp.		8,600		95,116
Celadon Group, Inc.		17,182		340,375
Chart Industries, Inc. ^*		7,000		463,330
Columbus McKinnon Corp. ^*		98,700		1,867,404
CRA International, Inc. ^*		13,150		244,459
Ducommun, Inc. ^*		27,600		442,428
DXP Enterprises, Inc. ^*		10,909		620,722
EnerNOC, Inc. ^*		26,442		408,529
Ennis, Inc.		44,350		692,303
Exponent, Inc. ^*		6,030		294,807
Furmanite Corp. ^*		47,500		252,225
G&K Services, Inc., Class A		8,050		322,322
GeoEye, Inc. ^*		8,752		313,584
Gibraltar Industries, Inc. ^*		11,575		201,058
GP Strategies Corp. ^*		8,049		172,249


	Shares		Value
Graham Corp.		27,292	$	632,356
Greenbrier Cos., Inc. ^*		32,700		651,711
H&E Equipment Services, Inc.		42,881		826,746
Heidrick & Struggles International, Inc.		10,600		167,586
Heritage-Crystal Clean, Inc. ^*		5,316		83,621
Hurco Cos., Inc. ^*		6,721		199,479
InnerWorkings, Inc. ^*		32,047		445,774
Interface, Inc.		50,300		844,034
KEYW Holding Corp., The ^*		44,600		573,556
Kimball International, Inc., Class B		6,300		68,040
LB Foster Co., Class A		7,850		339,984
LMI Aerospace, Inc. ^*		8,400		185,640
Lydall, Inc. ^*		6,100		93,208
Manitex International, Inc. ^*		27,401		266,338
Marten Transport, Ltd.		21,625		440,285
Met-Pro Corp.		24,525		254,324
Michael Baker Corp.		13,300		341,677
Miller Industries, Inc.		15,875		242,570
NN, Inc. ^*		56,450		522,727
Old Dominion Freight Line, Inc. ^*		9,225		343,908
Orion Marine Group, Inc. ^*		20,200		157,560
Performant Financial Corp. ^*		55,430		703,961
PGT, Inc. ^*		157,400		771,260
Pike Electric Corp.		15,400		160,160
Proto Labs, Inc. ^*		14,703		604,734
RBC Bearings, Inc. ^*		9,789		516,174
Saia, Inc. ^*		14,466		375,248
SeaCube Container Leasing, Ltd.		22,100		507,637
Solarcity Corp. ^*		17,161		250,894
Standard Parking Corp. ^*		10,621		222,616
Sun Hydraulics Corp.		31,150		859,740
Team, Inc. ^*		12,597		551,875
Thermon Group Holdings, Inc. ^*		4,490		108,658
Titan Machinery, Inc. ^*		14,461		418,068
Trex Co., Inc. ^*		15,998		675,916
Universal Truckload Services, Inc.		10,075		180,745
US Ecology, Inc.		14,071		334,327
Wabash National Corp. ^*		35,425		366,649
WageWorks, Inc. ^*		20,992		419,000
Total Industrials				29,391,061
Information Technology - 20.4%
Actuate Corp. ^*		62,938		354,341
American Software Inc., Class A		30,150		259,290
Anaren, Inc. ^*		18,025		352,749

Managers Micro-Cap Fund

Schedule of Portfolio Investments (continued)


	Shares		Value
Information Technology - 20.4% (continued)
Angie’s List, Inc. ^*		62,155	$	780,045
Aspen Technology, Inc. ^*		20,900		639,540
AVG Technologies N.V. ^*		20,848		285,618
Bankrate, Inc. ^*		15,087		186,626
Bel Fuse, Inc., Class B		9,100		169,533
Blucora, Inc.		15,775		234,416
Brightcove, Inc. ^*		45,125		379,953
Cohu, Inc.		16,125		168,990
Commtouch Software, Ltd. ^*		44,000		129,800
Computer Task Group, Inc. ^*		67,550		1,292,907
comScore, Inc. ^*		25,100		369,723
Cornerstone OnDemand, Inc. ^*		20,740		677,783
CTS Corp.		31,500		313,425
Demandware, Inc. ^*		27,697		880,488
Digi International, Inc. ^*		17,283		169,373
E2open, Inc. ^*		50,485		901,157
Ellie Mae, Inc. ^*		8,326		166,770
Eloqua, Inc. ^*		7,427		174,460
EPAM Systems, Inc. ^*		60,415		1,251,799
ePlus, Inc.		2,200		102,498
ExlService Holdings, Inc. ^*		19,398		575,345
FARO Technologies, Inc. ^*		2,679		88,970
FleetMatics Group PLC ^*		18,103		453,842
Globecomm Systems, Inc. ^*		27,300		338,520
Glu Mobile, Inc. ^*		140,700		364,413
GSI Group, Inc. ^*		21,400		203,300
GSI Technology, Inc. ^*		14,200		94,430
Hackett Group Inc., The		22,000		94,600
Imperva, Inc. ^*		40,505		1,389,322
Infinera Corp. ^*		61,656		439,607
Infoblox, Inc. ^*		18,501		348,744
Interactive Intelligence Group, Inc. ^*		36,900		1,484,118
Intermolecular, Inc. ^*		1,600		15,008
IXYS Corp.		35,412		341,372
Jive Software, Inc. ^*		25,986		398,365
Lionbridge Technologies, Inc. ^*		34,200		136,458
LivePerson, Inc. ^*		31,507		421,249
Market Leader, Inc. ^*		80,134		607,415
MEMC Electronic Materials, Inc. ^*		146,718		610,347
Methode Electronics, Inc.		32,868		316,190
Monolithic Power Systems, Inc.		24,888		579,890
NIC, Inc.		72,716		1,185,271
Numerex Corp., Class A ^*		23,372		290,047
PC Connection, Inc.		13,946		172,233


	Shares		Value
Pericom Semiconductor Corp. ^*		10,900	$	77,063
Procera Networks, Inc. ^*		10,613		178,617
Proofpoint, Inc. ^*		50,903		669,374
Rubicon Technology, Inc. ^*		31,000		208,320
Sierra Wireless, Inc. ^*		39,211		443,869
SPS Commerce, Inc. ^*		22,084		859,288
Stamps.com, Inc.		26,436		713,508
STEC, Inc. ^*		21,600		109,296
SunPower Corp. ^*		65,824		512,769
Supertex, Inc.		9,000		172,080
Symmetricom, Inc. ^*		25,742		138,749
Tangoe, Inc. ^*		35,065		506,689
TechTarget, Inc. ^*		16,400		83,312
Tessco Technologies, Inc.		52,400		1,171,140
Trulia, Inc. ^*		13,066		343,505
Tyler Technologies, Inc. ^*		30,700		1,659,335
Virtusa Corp. ^*		20,225		418,860
Vishay Precision Group, Inc. ^*		12,450		164,215
Xyratex, Ltd.		75,300		700,290
Total Information Technology				30,320,619
Materials - 4.6%
American Vanguard Corp.		13,194		447,277
Flotek Industries, Inc. ^*		20,500		275,930
Koppers Holdings, Inc.		30,200		1,224,912
Landec Corp. ^*		47,600		561,680
Materion Corp.		12,625		339,612
Myers Industries, Inc.		27,900		412,362
OMNOVA Solutions, Inc. ^*		149,700		1,224,546
Penford Corp. ^*		10,300		84,460
Spartech Corp. ^*		18,450		175,828
UFP Technologies, Inc. ^*		4,925		93,181
Universal Stainless & Alloy ^*		45,000		1,607,850
US Silica Holdings, Inc.		16,220		325,535
Total Materials				6,773,173
Telecommunication Services - 1.1%
8x8, Inc. ^*		59,787		395,790
HickoryTech Corp.		8,600		83,248
IDT Corp., Class B ^*		17,200		175,784
inContact, Inc. ^*		25,163		148,462
Premiere Global Services, Inc. ^*		35,600		333,572
Shenandoah Telecommunications Co.		11,000		161,260
Towerstream Corp. ^*		108,900		321,255
Total Telecommunication Services				1,619,371
Utilities - 0.6%
Chesapeake Utilities Corp.		6,975		331,034

Managers Micro-Cap Fund

Schedule of Portfolio Investments (continued)


	Shares		Value
Utilities - 0.6% (continued)
Unitil Corp.		21,000	$	562,380
Total Utilities				893,414
Total Common Stocks (cost $112,184,360)				143,929,516
Warrants - 0.0% ^#
Magnum Hunter Resources Corp., 10/14/13 ^* (cost $0)		10,499		1,470
Exchange Traded Funds - 0.2%
SPDR S&P Regional Banking ETF (cost $169,143)		8,200		244,606


	Principal		Value
Short-Term Investments - 2.6%
Repurchase Agreements - 0.0% ^#,4
JP Morgan Securities LLC, dated 01/31/13, due 02/01/13, 0.130%, total to be received $14 (secured by U.S. Government Agencies, 0.000% - 11.250%, 03/07/13 - 02/15/42, totaling $14)	$	14	$	14

	Shares
Other Investment Companies - 2.6% ¹
Dreyfus Cash Management Fund, Institutional Class Shares, 0.05%		3,864,328		3,864,328
Total Short-Term Investments (cost $3,864,342)				3,864,342
Total Investments - 99.7% (cost $116,217,845)				148,039,934
Other Assets, less Liabilities - 0.3%				509,754
Net Assets - 100.0%			$	148,549,688

Managers Real Estate Securities Fund

Schedule of Portfolio Investments

January 31, 2013 (unaudited)


	Shares		Value
Common Stocks - 0.7%
CyrusOne, Inc. (Industrials) (cost $1,249,290) ^*		59,980	$	1,269,777
REITs - 97.1%
Apartments - 18.4%
American Campus Communities, Inc.		54,550		2,540,394
Apartment Investment & Management Co., Class A		44,190		1,205,503
AvalonBay Communities, Inc.		41,860		5,433,009
BRE Properties, Inc.		43,980		2,237,702
Camden Property Trust		26,255		1,821,834
Campus Crest Communities, Inc.		44,800		541,184
Equity Residential		155,430		8,609,268
Essex Property Trust, Inc.		27,780		4,272,008
UDR, Inc.		246,940		5,899,397
Total Apartments				32,560,299
Diversified - 9.6%
CapLease, Inc.		46,390		268,598
Digital Realty Trust, Inc.		69,410		4,713,633
Duke Realty Corp.		264,910		4,082,263
Liberty Property Trust		65,570		2,568,377
STAG Industrial, Inc.		24,660		486,295
Vornado Realty Trust		56,980		4,812,531
Total Diversified				16,931,697
Health Care - 13.3%
HCP, Inc.		143,794		6,670,604
Health Care REIT, Inc.		116,940		7,348,510
Omega Healthcare Investors, Inc.		72,460		1,852,078
Ventas, Inc.		114,439		7,586,161
Total Health Care				23,457,353
Hotels - 6.8%
DiamondRock Hospitality Co.		104,970		957,326
Host Hotels & Resorts, Inc.		294,160		4,938,946
LaSalle Hotel Properties		126,490		3,453,177
Pebblebrook Hotel Trust		16,810		418,737
RLJ Lodging Trust		61,132		1,278,270
Sunstone Hotel Investors, Inc. ^*		91,060		1,053,564
Total Hotels				12,100,020
Manufactured Homes - 1.0%
Equity Lifestyle Properties, Inc.		24,610		1,762,076
Office Properties - 11.5%
Alexandria Real Estate Equities, Inc.		14,380		1,042,550


	Shares		Value
Boston Properties, Inc.		70,650	$	7,438,032
CommonWealth REIT		41,120		676,013
Highwoods Properties, Inc.		42,200		1,519,200
Mack-Cali Realty Corp.		59,550		1,617,974
Piedmont Office Realty Trust, Inc., Class A		171,560		3,316,255
SL Green Realty Corp.		58,030		4,664,451
Total Office Properties				20,274,475
Regional Malls - 17.1%
General Growth Properties, Inc.		228,340		4,457,197
Macerich Co., The		116,690		6,968,727
Simon Property Group, Inc.		81,630		13,075,493
Tanger Factory Outlet Centers		123,150		4,361,973
Taubman Centers, Inc.		16,460		1,341,490
Total Regional Malls				30,204,880
Shopping Centers - 6.7%
Acadia Realty Trust		38,090		995,673
DDR Corp.		203,590		3,377,558
Equity One, Inc.		31,080		702,719
Excel Trust, Inc.		49,680		624,974
Kimco Realty Corp.		296,820		6,164,951
Total Shopping Centers				11,865,875
Storage - 6.4%
Extra Space Storage, Inc.		18,420		733,853
Public Storage		68,850		10,598,081
Total Storage				11,331,934
Warehouse/Industrials - 6.3%
First Industrial Realty Trust, Inc. ^*		85,910		1,346,210
Prologis, Inc.		243,010		9,696,099
Total Warehouse/ Industrials				11,042,309
Total REITs (cost $159,568,420)				171,530,918

Other Investment Companies - 1.2% ¹
Dreyfus Cash Management Fund, Institutional Class Shares, 0.05% (cost $2,048,795)		2,048,795		2,048,795
Total Investments - 99.0% (cost $162,866,505)				174,849,490
Other Assets, less Liabilities - 1.0%				1,786,316
Net Assets - 100.0%			$	176,635,806

Managers California Intermediate Tax-Free Fund

Schedule of Portfolio Investments

January 31, 2013 (unaudited)


	Principal Amount		Value
Municipal Bonds - 96.9%
Alvord, CA Unified School District General Obligation, Election 2007, Series A, 5.000%, 08/01/23 (AGM Insured)	$	285,000	$	322,737
Alvord, CA Unified School District General Obligation, Series A, 5.900%, 02/01/17 (National Insured)		110,000		125,507
Alvord, CA Unified School District General Obligation, Series A, 5.900%, 02/01/24 (National Insured)		225,000		275,524
Bakersfield, CA City School District, Series A, 5.250%, 11/01/21 (AGM Insured)		110,000		126,243
Bakersfield, CA Wastewater Revenue, Series A, 5.000%, 09/15/19 (AGM Insured)		175,000		204,915
Bakersfield, CA Wastewater Revenue, Series A, 5.000%, 09/15/22 (AGM Insured)		200,000		231,652
Baldwin Park, CA Unified School District General Obligation, Election 2006, 4.300%, 08/01/24 (AGM Insured)		75,000		81,999
Barstow, CA Unified Unified School District General Obligation, Election 2001, Series B, 5.000%, 08/01/24 (National Insured)		375,000		386,783
Bay Area, CA Toll Authority Toll Bridge Revenue, Series F, 5.000%, 04/01/17		20,000		23,426
Bay Area, CA Toll Authority Toll Bridge Revenue, Series F, 5.000%, 04/01/22		35,000		39,842
Benicia, CA Unified School District General Obligation, 4.000%, 08/01/19		100,000		111,534
Bonita, CA Unified School District, Election 2004, Series B, 5.000%, 08/01/16 (FGIC Insured)		50,000		56,693
Butte-Glenn Counties, CA Community College District General Obligation, Series B, 5.000%, 08/01/23 (National Insured)		325,000		356,119
California Resource Efficiency Financing Authority, Series A, 5.000%, 07/01/23 (AMBAC Insured)		50,000		50,975
California State Department of Water Resources, Water System Revenue, Series A, 5.000%, 12/01/20		25,000		29,984
California State Educational Facilities Authority, Santa Clara University, 5.000%, 09/01/23		100,000		123,628
California State Public Works Board, Series A, 6.000%, 04/01/24		500,000		610,415
California State Public Works Board, Series B, 5.250%, 03/01/19 (AMBAC Insured)		200,000		200,728
California State Public Works Board, Series C, 4.500%, 06/01/17		50,000		57,889
Carlsbad, CA Unified School District General Obligation, Election 2006, Series A, 5.000%, 08/01/21 (National Insured)		20,000		23,103
Carlsbad, CA Unified School District General Obligation, Series B, 5.250%, 05/01/25		70,000		81,449
Centinela Valley Union High School District, Series A, 5.500%, 02/01/24 (National Insured)		100,000		124,210
Central Marin, CA Sanitation Agency Revenue, 5.000%, 09/01/21 (National Insured)		100,000		113,023
Central, CA Unified School District General Obligation, 5.000%, 07/01/21 (National Insured)		75,000		78,934
Central, CA Unified School District General Obligation, 5.000%, 08/01/22 (Assured Guaranty)		25,000		28,722
Central, CA Unified School District General Obligation, 5.000%, 07/01/23 (National Insured)		25,000		26,158
Cerritos, CA Community College General Obligation, Election 2004, Series C, 5.250%, 08/01/25		15,000		17,398
Chaffey, CA Joint Union High School District General Obligation, 5.000%, 08/01/25		25,000		29,775
Citrus, CA Community College District General Obligation, Election 2004, Series B, 5.000%, 06/01/22 (National Insured)		20,000		23,009
City of Costa Mesa, CA COP, Police Facility Expansion Project, 4.300%, 10/01/26 (National Insured)		25,000		27,035
City of El Paso De Robles, CA General Obligation, 5.000%, 08/01/23 (National Insured)		125,000		134,120
City of El Paso De Robles, CA General Obligation, 5.000%, 08/01/25 (National Insured)		250,000		266,297
City of El Paso De Robles, CA General Obligation, 5.000%, 08/01/27 (National Insured)		20,000		21,264
Clovis, CA Unified School District General Obligation, Election 2004, Series B, 5.000%, 08/01/23 (National Insured)		115,000		132,573
Clovis, CA Unified School District General Obligation, Election 2004, Series B, 5.000%, 08/01/25 (National Insured)		65,000		69,811
Colton, CA Public Financing Authority Electric Revenue, Series A, 5.000%, 04/01/26		140,000		160,695
Contra Costa County, CA Public Financing Authority Capital Projects Lease Revenue, Series A-1, 4.000%, 06/01/19		50,000		55,440
Corona-Norca, CA Unified School District, Election 2006, Series A, 5.000%, 08/01/24 (AGM Insured)		75,000		86,601
Corona-Norca, CA Unified School District, Election 2006, Series A, 5.000%, 08/01/25 (AGM Insured)		50,000		57,640

Managers California Intermediate Tax-Free Fund

Schedule of Portfolio Investments (continued)


	Principal Amount		Value
Municipal Bonds - 96.9% (continued)
Covina-Valley, CA Unified School District, Election 2006, Series A, 5.000%, 08/01/21 (National Insured)	$	410,000	$	429,828
Desert Sands, CA Unified School District General Obligation, Election 2001, 5.000%, 08/01/16		50,000		56,546
Desert Sands, CA Unified School District General Obligation, Election 2001, 5.000%, 08/01/26		175,000		204,942
Desert Sands, CA Unified School District General Obligation, Election 2001, 5.000%, 08/01/27		245,000		286,358
Desert Sands, CA Unified School District General Obligation, Election 2001, 5.500%, 08/01/28		25,000		29,915
Desert Sands, CA Unified School District, Election 2001, 5.000%, 06/01/22 (AMBAC Insured)		40,000		44,880
Eastern, CA Municipal Water District, Water & Sewer Revenue, Series A, 5.000%, 07/01/21 (National Insured)		330,000		371,365
El Monte, CA City School District General Obligation, Election 2004, Series A, 4.250%, 05/01/15 (FGIC Insured)		150,000		161,007
El Monte, CA Union High School District General Obligation, Election 2002, Series C, 5.000%, 06/01/21 (AGM Insured)		40,000		45,724
Fairfield-Suisun, CA Unified School District General Obligation, Election 2002, 5.000%, 08/01/24 (National Insured)		565,000		604,686
Fairfield-Suisun, CA Unified School District General Obligation, Election 2002, 5.250%, 08/01/23 (National Insured)		240,000		257,748
Fairfield-Suisun, CA Unified School District, Election 2002, 5.250%, 08/01/16 (National Insured)		70,000		75,177
Fresno County, CA Unified School District General Obligation, Series C, 5.900%, 08/01/22 (National Insured)		25,000		30,077
Golden West, CA Schools Financing Authority General Obligation, 5.250%, 09/01/24 (National Insured)		365,000		465,317
Grossmont, CA Union High School District General Obligation, 5.000%, 08/01/23 (National Insured)		85,000		94,651
Grossmont-Cuyamaca, CA Community College District General Obligation, Series C, 5.000%, 08/01/24 (Assured Guaranty)		50,000		58,755
Hemet, CA Unified School District General Obligation, 4.000%, 08/01/23 (AGM Insured)		35,000		37,795
Hemet, CA Unified School District General Obligation, Series A, 5.000%, 08/01/22 (AGM Insured)		125,000		134,345
Imperial, CA Irrigation District Electric System Revenue, Series A, 5.250%, 11/01/24		100,000		116,885
Long Beach, CA Unified School District General Obligation Refunding, Series A, 5.000%, 08/01/25		30,000		34,982
Long Beach, CA Unified School District General Obligation, Series A, 5.500%, 08/01/26		85,000		101,705
Los Angeles County, CA Metropolitan Transportation Authority Sales Tax Revenue, Proposition C, Series E, 5.000%, 07/01/25		35,000		40,689
Los Angeles County, CA Public Works Financing Authority, 5.000%, 10/01/15 (National Insured)		15,000		16,728
Los Angeles County, CA Public Works Financing Authority Revenue, Series A, 5.250%, 10/01/16 (AGM Insured)		25,000		29,049
Los Angeles County, CA Sanitation Districts Financing Authority Capital Projects Revenue, 5.000%, 10/01/23 (FGIC Insured)		80,000		87,239
Los Angeles, CA Harbor Department Revenue, Series A, 4.000%, 08/01/17		25,000		28,556
Los Angeles, CA Harbor Department Revenue, Series B, 5.000%, 08/01/20 (National Insured)		275,000		309,018
Los Angeles, CA Municipal Improvement Corp. Lease Revenue, Police Headquarters Facility, Series A, 5.000%, 01/01/25 (FGIC Insured)		780,000		849,381
Los Angeles, CA Municipal Improvement Corp. Lease Revenue, Real Property, Series B, 4.750%, 09/01/26		100,000		107,481
Los Angeles, CA Municipal Improvement Corp. Lease Revenue, Series A, 5.000%, 09/01/24		100,000		110,461
Los Angeles, CA Municipal Improvement Corp. Lease Revenue, Series C, 5.000%, 09/01/18		300,000		346,374
Los Angeles, CA Municipal Improvement Corp. Revenue, Prerefunded, Series B1, 5.000%, 08/01/21 (FGIC Insured)		5,000		5,351
Los Angeles, CA Municipal Improvement Corp. Revenue, Unrefunded, Series B1, 5.000%, 08/01/21 (FGIC Insured)		120,000		126,143
Los Angeles, CA Municipal Improvement Corp. Revenue, Unrefunded, Series B1, 5.000%, 08/01/23 (FGIC Insured)		50,000		52,273
Los Angeles, CA Municipal Improvement Corp. Revenue, Unrefunded, Series B1, 5.000%, 08/01/26 (FGIC Insured)		200,000		208,248
Los Angeles, CA Municipal Improvement Lease Revenue, Capital Equipment, Series A, 5.000%, 09/01/16		160,000		178,872
Los Angeles, CA Municipal Improvement Lease Revenue, Capital Equipment, Series A, 5.000%, 09/01/23		640,000		708,678
Los Angeles, CA Municipal Improvement Revenue, Capital Equipment, Series 2008 A, 5.000%, 09/01/25		50,000		55,015

Managers California Intermediate Tax-Free Fund

Schedule of Portfolio Investments (continued)


	Principal Amount		Value
Municipal Bonds - 96.9% (continued)
Los Angeles, CA Unified School District General Obligation, Election 2004, Series G, 5.000%, 07/01/24 (AMBAC Insured)	$	35,000	$	39,263
Madera, CA Unified School District General Obligation, 4.000%, 08/01/25 (AGM Insured)		60,000		64,512
Monrovia, CA Unified School District General Obligation, Election 2006, Series B, 5.250%, 08/01/25 (FSA Insured)		30,000		34,086
Montebello, CA Unified School District General Obligation, Election 2004, 4.200%, 08/01/22 (National Insured)		100,000		106,698
Moreland, CA School District General Obligation, Series A, 5.000%, 08/01/15 (AMBAC Insured)		50,000		54,285
Moreno Valley, CA Unified School District, 5.000%, 08/01/17 (National Insured)		50,000		56,501
Moreno Valley, CA Unified School District General Obligation, 5.000%, 08/01/16 (National Insured)		25,000		27,783
Mount Diablo, CA Unified School District General Obligation, Election 2002, 5.000%, 06/01/14 (National Insured)		30,000		31,859
Orange County, CA Sanitation District COP, Series A, 5.000%, 02/01/22		135,000		162,826
Peralta, CA Community College District General Obligation, Election 2006, Series B, 5.250%, 08/01/22 (AGM Insured)		45,000		50,774
Peralta, CA Community College District General Obligation, Series A, 5.000%, 08/01/24 (National Insured)		50,000		54,747
Perris, CA Union High School District General Obligation, Election 2004, Series A, 5.000%, 09/01/26 (FGIC Insured)		15,000		15,722
Placentia-Yorba Linda, CA Unified School District General Obligation, Election 2002, Series B, 5.500%, 08/01/27 (FGIC Insured)		65,000		70,048
Port of Oakland, CA Revenue, Series B, 5.000%, 11/01/17 (National Insured)		10,000		11,730
Port of Oakland, CA Revenue, Series B, 5.000%, 11/01/22 (National Insured)		30,000		33,161
Port of Oakland, CA Revenue, Series B, 5.000%, 11/01/26 (National Insured)		275,000		300,132
Port of Oakland, CA Revenue, Series C, 5.000%, 11/01/15 (National Insured)		310,000		345,467
Port of Oakland, CA Revenue, Series C, 5.000%, 11/01/17 (National Insured)		275,000		322,578
Port of Oakland, CA Series B, 5.000%, 11/01/16 (National Insured)		255,000		291,832
Port of Oakland, CA Series B, 5.000%, 11/01/21 (National Insured)		625,000		694,100
Port of Oakland, CA Series B, 5.000%, 11/01/24 (National Insured)		75,000		82,306
Puerto Rico Sales Tax Financing Corp. Revenue, Prerefunded, Series 2009 A, 5.000%, 08/01/18		20,000		24,490
Puerto Rico Sales Tax Financing Corp. Revenue, Unrefunded Balance, Series 2009 A, 5.000%, 08/01/18		50,000		56,539
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, Series A, 4.375%, 08/01/20		685,000		746,239
Rescue, CA Union School District General Obligation, 5.000%, 09/01/21 (National Insured)		25,000		30,441
Rescue, CA Union School District General Obligation, 5.000%, 07/01/23 (National Insured)		50,000		61,031
Riverside, CA Community College District, 5.000%, 08/01/24 (AGM Insured)		35,000		38,342
Riverside, CA Unified School District General Obligation, Election 2001, Series B, 4.000%, 08/01/17 (National Insured)		100,000		108,850
Rosemead, CA School District General Obligation, Election 2000, Series D, 5.250%, 08/01/24 (AGM Insured)		150,000		171,858
Rosemead, CA School District General Obligation, Election 2000, Series D, 5.250%, 08/01/25 (AGM Insured)		55,000		62,282
Rosemead, CA School District General Obligation, Election 2000, Series D, 5.250%, 08/01/26 (AGM Insured)		145,000		163,743
Rosemead, CA School District General Obligation, Election 2000, Series D, 5.500%, 08/01/28 (AGM Insured)		125,000		142,354
Roseville, CA Joint Union High School District General Obligation, Election 2004, Series A, 5.000%, 08/01/26 (FGIC Insured)		120,000		126,947
Sacramento, CA City Financing Authority Revenue, 5.000%, 12/01/14 (National Insured)		50,000		53,546
Sacramento, CA Municipal Utility District Electric Revenue, Series K, 5.250%, 07/01/24 (AMBAC Insured)		145,000		179,119
Sacramento, CA Municipal Utility District Unrefunded Balance Revenue, Series R, 5.000%, 08/15/18 (National Insured)		45,000		46,061
San Bernardino, CA Community College District General Obligation, Election 2008, Series A, 6.375%, 08/01/26		480,000		597,979
San Bernardino, CA Community College District General Obligation, Series C, 5.000%, 08/01/26 (AGM Insured)		175,000		196,761

Managers California Intermediate Tax-Free Fund

Schedule of Portfolio Investments (continued)


	Principal Amount		Value
Municipal Bonds - 96.9% (continued)
San Bernardino, CA Community College District, Election 2008, Series A, 6.250%, 08/01/23	$	620,000	$	770,548
San Diego, CA Public Facilities Financing Authority Sewer Revenue, Series B, 5.000%, 05/15/21		50,000		59,850
San Diego, CA Public Facilities Financing Authority Water Revenue, Series B, 5.000%, 08/01/20		30,000		36,448
San Diego, CA Unified Port District Revenue, Series B, 5.000%, 09/01/23 (National Insured)		325,000		339,086
San Francisco, CA City & County Airports Commission Revenue, Second Series Issue 32F, 5.250%, 05/01/17 (FGIC Insured)		465,000		548,295
San Francisco, CA City & County Airports Commission Revenue, Second Series, Issue 34F, 5.000%, 05/01/16 (Assured Guaranty)		95,000		107,928
San Francisco, CA City and County General Obligation, Laguna Honda Hospital, Series R3, 5.000%, 06/15/23		50,000		54,544
San Francisco, CA City & County Unified School District General Obligation, Election 2003, Series C, 5.000%, 06/15/22 (National Insured)		55,000		62,077
San Juan, CA Unified School District General Obligation, Election 2002, Series A, 5.000%, 08/01/16 (National Insured)		150,000		160,536
Santa Ana, CA Unified School District General Obligation, Series A, 5.250%, 08/01/26		500,000		567,915
Santa Ana, CA Unified School District, Election 2008, Series A, 5.250%, 08/01/25		1,300,000		1,479,439
Santa Clara County, CA East Side Union High School District General Obligation, Election 2002, Series D, 5.000%, 08/01/19 (XLCA Insured)		330,000		343,272
Santa Clara County, CA East Side Union High School District General Obligation, Election 2002, Series H, 5.000%, 08/01/19 (Assured Guaranty)		100,000		117,281
Santa Clara County, CA East Side Union High School District General Obligation, Series A, 4.000%, 09/01/18 (AMBAC Insured)		75,000		81,728
Santa Clara County, CA East Side Union High School District General Obligation, Series B, 5.100%, 02/01/16 (National Insured)		250,000		277,995
Santa Clara County, CA East Side Union High School District General Obligation, Series B, 5.100%, 02/01/22 (National Insured)		500,000		588,655
Santa Clara County, CA East Side Union High School District General Obligation, Series B, 5.250%, 02/01/24 (National Insured)		40,000		48,791
Santa Clara County, CA Financing Authority Lease Revenue, Series A, 5.000%, 11/15/21		185,000		215,246
Santa Clara County, CA San Jose Unified School District General Obligation, Election 2002, Series C, 5.000%, 08/01/24 (FGIC Insured)		200,000		225,452
Santa Rosa, CA High School District, Election of 2002, 5.000%, 08/01/19 (National Insured)		100,000		101,177
Sierra Sands, CA Unified School District General Obligation, Series A, 5.000%, 11/01/22 (FGIC Insured)		50,000		53,748
Sierra, CA Joint Community College District, School Facilities District No. 1, Election 2004, 5.000%, 08/01/24 (National Insured)		100,000		115,468
Sierra, CA Joint Community College District, School Facilities District No. 1, Election 2004, 5.000%, 08/01/25 (National Insured)		100,000		115,280
Solano County, CA Community College District, 4.000%, 08/01/15 (National Insured)		25,000		27,006
Solano County, CA Community College District, 5.000%, 08/01/16 (National Insured)		40,000		44,100
Sonoma County, CA Junior College District General Obligation, Series D, 5.000%, 08/01/16		15,000		17,197
South Western, CA Community College District General Obligation, 5.000%, 08/01/23 (National Insured)		285,000		317,462
Southern California Public Power Authority Revenue, Southern Transmission Project, Series B, 5.750%, 07/01/24		75,000		89,680
State Center, CA Community College District General Obligation, Election 2002, Series A, 4.000%, 08/01/16 (AGM Insured)		60,000		66,462
Sweetwater, CA Authority Water Revenue, 5.000%, 04/01/17 (AMBAC Insured)		50,000		54,568
Tahoe-Truckee, CA Unified School District General Obligation, 5.500%, 08/01/19 (National Insured)		75,000		93,588
Tracy, CA Joint Unified School District General Obligation, Election 2006, 5.000%, 08/01/25 (Assured Guaranty)		100,000		112,544

Managers California Intermediate Tax-Free Fund

Schedule of Portfolio Investments (continued)


	Principal Amount		Value
Municipal Bonds - 96.9% (continued)
Tustin, CA Unified School District No. 2002-1 General Obligation, Election 2002, Series B, 4.250%, 06/01/15 (AMBAC Insured)	$	50,000	$	53,852
Upland, CA Unified School District General Obligation, 5.000%, 08/01/22		25,000		31,208
Vacaville, CA Unified School District General Obligation, Election 2001, 5.000%, 08/01/16 (National Insured)		120,000		130,284
Vacaville, CA Unified School District General Obligation, Election 2001, 5.000%, 08/01/17 (National Insured)		40,000		43,356
Vacaville, CA Unified School District General Obligation, Election 2001, 5.000%, 08/01/22 (National Insured)		15,000		16,046
Vacaville, CA Unified School District General Obligation, Election 2001, 5.000%, 08/01/25 (AMBAC Insured)		350,000		374,912
Vacaville, CA Unified School District General Obligation, Election 2001, 5.000%, 08/01/26 (AMBAC Insured)		85,000		90,805
Val Verde, CA Unified School District General Obligation, Election 2008, Series A, 5.500%, 08/01/22		100,000		113,268
Val Verde, CA Unified School District General Obligation, Election 2008, Series A, 5.500%, 08/01/24		615,000		691,285
Wasco, CA Union High School District General Obligation, Election 2008, Series B, 4.000%, 08/01/25 (AGM Insured)		35,000		37,305
West Contra Costa, CA Unified School District General Obligation, Election 2005, Series B, 6.000%, 08/01/21		75,000		94,900
Wiseburn, CA School District, Class A, 5.000%, 08/01/16 (National Insured)		75,000		82,279
Yosemite, CA Community College District General Obligation, Prerefunded, Election 2004, Series A, 5.000%, 08/01/22 (FGIC Insured)		420,000		467,687
Yosemite, CA Community College District General Obligation, Unrefunded, Election 2004, Series A, 5.000%, 08/01/22 (FGIC Insured)		95,000		104,170
Yuba, CA Community College District General Obligation, Election 2006, Series A, 5.000%, 08/01/23 (AMBAC Insured)		90,000		103,964
Yuba, CA Community College District General Obligation, Election 2006, Series A, 5.000%, 08/01/24 (AMBAC Insured)		25,000		28,867
Total Municipal Bonds (cost $25,247,862)				27,290,640

	Shares
Other Investment Companies - 1.5% ¹
BlackRock Liquidity Funds, California Money Fund - Institutional Class Shares, 0.01% (cost $419,492)		419,492		419,492
Total Investments - 98.4% (cost $25,667,354) ⁸				27,710,132
Other Assets, less Liabilities - 1.6%				448,597
Net Assets - 100.0%			$	28,158,729

Notes to Schedules of Portfolio Investments (unaudited)

The following footnotes and abbreviations should be read in conjunction with each of the Schedules of Portfolio Investments previously presented in this report.

At January 31, 2013, the approximate cost of investments for Federal income tax purposes and the gross aggregate unrealized appreciation and/or depreciation based on tax cost were as follows:


Fund	Cost		Appreciation		Depreciation			Net
Managers AMG FQ Tax-Managed U.S. Equity Fund	$	31,762,842	$	11,046,566	$	(374,730	)	$	10,671,836
Managers AMG FQ U.S. Equity Fund		42,093,331		8,020,512		(551,736	)		7,468,776
Managers AMG FQ Global Alternatives Fund		158,410,469		8,299,098		—			8,299,098
Managers AMG FQ Global Essentials Fund		126,919,504		2,352,681		(413,848	)		1,938,833
Managers Frontier Small Cap Growth Fund		75,937,685		18,371,615		(4,421,987	)		13,949,628
Managers AMG TSCM Growth Equity Fund		24,636,405		4,376,609		(108,312	)		4,268,297
Managers Micro-Cap Fund		117,490,192		33,881,687		(3,331,959	)		30,549,728
Managers Real Estate Securities Fund		164,106,357		12,118,260		(1,375,127	)		10,743,133
Managers California Intermediate Tax-Free Fund		25,667,354		2,050,924		(8,146	)		2,042,778

*	Non-income producing security.

#	Rounds to less than 0.1%.

1	Yield shown for each investment company represents the January 31, 2013, seven-day average yield, which refers to the sum of the previous seven days dividends paid, expressed as an annual percentage.

2	Some or all of this security is held as collateral for options written.

3	Some or all of these shares were out on loan to various brokers as of January 31, 2013, amounting to:


Fund	Market Value		% of Net Assets
Managers AMG FQ U.S. Equity Fund	$	328,818		0.7	%
Managers AMG FQ Global Essentials Fund		10,117,516		8.5	%
Managers Frontier Small Cap Growth Fund		3,344,168		3.7	%

4	Collateral received from brokers for securities lending was invested in these short-term investments.

5	Indicates yield to maturity at January 31, 2013

6	Some or all of these securities were held as collateral for futures contracts as of January 31, 2013, amounting to:


Fund	Market Value		% of Net Assets
Managers AMG FQ Global Alternatives Fund	$	48,091,278		29.3	%
Managers AMG FQ Global Essentials Fund		8,997,714		7.6	%

Illiquid Security: A security not readily convertible into cash such as a stock, bond or commodity that is not actively traded and would be difficult to sell in a timely sale. The Fund may not invest more than 15% of its net assets in illiquid securities. All illiquid securities are valued by an independent pricing agent and are fair valued at Level 2. The market value of illiquid securities at January 31, 2013, amounted to the following:


Fund	Market Value		% of Net Assets
Managers Micro Cap Fund	$	121,590		0.1	%

At January 31, 2013, the concentration of the Fund’s investments by state or territory determined as a percentage of net assets was as follows: California 94.0% and Puerto Rico 2.9%. At January 31, 2013, 63.0% of the securities in the portfolio were backed by insurance of financial institutions and financial guaranty assurance agencies. Insurers with a concentration greater than 10% of net assets were as follows: National Insured 36.8% and FGIC Insured 11.4%.

Notes to Schedules of Portfolio Investments (continued)

Fair Value Measurements

Generally Accepted Accounting Principles (U.S. GAAP) defines fair value as the price that a Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP also establishes a framework for measuring fair value, and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability. Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s own assumptions about the assumptions that market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. Each investment is assigned a level based upon the observability of the inputs which are significant to the overall valuation.

The three-tier hierarchy of inputsis summarized below:

Level 1 - inputs are quoted prices in active markets for identical investments (e.g., equity securities, open-end investment companies, futures contracts)

Level 2 - other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and defaults) or other market corroborated inputs) (e.g., debt securities, government securities, foreign currency exchange contracts, foreign securities utilizing international fair value pricing, broker-quoted securities, fair valued securities with observable inputs)

Level 3 - inputs are significant unobservable inputs (including the Fund’s own assumptions used to determine the fair value of investments) (e.g., fair valued securities with unobservable inputs)

Changes in inputs or methodologies used for valuing investments may result in a transfer in or out of levels within the fair value hierarchy. The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments.

As of January 31, 2013, the securities in Managers AMG FQ Tax-Managed U.S. Equity Fund, Managers AMG TSCM Growth Equity Fund, and Managers Real Estate Fund were all Level 1 inputs. For a detailed break-out of the common stocks by major industry classification, please refer to the respective Schedule of Portfolio Investments previously presented in this report.

The following table summarizes the inputs used to value the Funds’ net assets by the fair value hierarchy levels as of January 31, 2013:


	Quoted Prices in Active Markets for Identical Investments Level 1			Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3		Total
Managers AMG FQ U.S. Equity Fund
Investments in Securities
Common Stocks ^†	$	48,927,514			—		—	$	48,927,514
Short-Term Investments
Repurchase Agreements		—		$	331,694		—		331,694
Other Investment Companies		261,999			—		—		261,999

Total Investments in Securities	$	49,189,513			331,694		—	$	49,521,207

Financial Derivative Instruments-Assets ^††
Equity Contracts	$	49,016			—		—	$	49,016

Financial Derivative Instruments-Liabilities ^††
Equity Contracts		(90,475	)		—		—		(90,475	)

Total Financial Derivative Instruments	$	(41,459	)	$	—	$	—	$	(41,459	)

Managers AMG Funds

Notes to Schedules of Portfolio Investments (continued)


	Quoted Prices in Active Markets for Identical Investments Level 1			Significant Other Observable Inputs Level 2			Significant Unobservable Inputs Level 3		Total
Managers AMG FQ Global Alternatives Fund
Investments in Securities
Exchange Traded Funds ^†††	$	33,251,065			—			—	$	33,251,065
U.S. Government and Agency Obligations ^††††		—		$	48,091,278			—		48,091,278
Other Investment Companies		85,367,224			—			—		85,367,224

Total Investments in Securities	$	118,618,289		$	48,091,278			—	$	166,709,567

Financial Derivative Instruments-Assets ^††
Foreign Exchange Contracts		—		$	9,714,460			—	$	9,714,460
Equity Contracts	$	850,989			—			—		850,989
Interest Rate Contracts		384,474			560,319			—		944,793

		1,235,463			10,274,779			—		11,510,242

Financial Derivative Instruments-Liabilities ^††
Foreign Exchange Contracts		—			(5,403,526	)		—		(5,403,526	)
Equity Contracts		(3,645,530	)		—			—		(3,645,530	)
Interest Rate Contracts		(1,003,678	)		(1,778,292	)		—		(2,781,970	)

		(4,649,208	)		(7,181,818	)		—		(11,831,026	)

Total Financial Derivative Instruments	$	(3,413,745	)	$	3,092,961			—	$	(320,784	)


	Quoted Prices in Active Markets for Identical Investments Level 1			Significant Other Observable Inputs Level 2			Significant Unobservable Inputs Level 3		Total
Managers AMG FQ Global Essentials Fund
Investments in Securities
Exchange Traded Funds ^†††	$	48,417,927			—			—	$	48,417,927
Exchange Traded Notes ^†††		14,333,702			—			—		14,333,702
U.S. Government and Agency Obligations ^††††		—		$	8,997,714			—		8,997,714
Short-Term Investments
Repurchase Agreements		—			10,434,410			—		10,434,410
Other Investment Companies		46,674,584			—			—		46,674,584

Total Investments in Securities	$	109,426,213		$	19,432,124			—	$	128,858,337

Financial Derivative Instruments-Assets ^††
Equity Contracts	$	2,223,657			—			—	$	2,223,657
Interest Rate Contracts		—			—			—		—

		2,223,657			—			—		2,223,657

Financial Derivative Instruments-Liabilities ^††
Equity Contracts		(30,366	)		—			—		(30,366	)
Interest Rate Contracts		(2,162,829	)		—			—		(2,162,829	)

Total Financial Derivative Instruments	$	30,462			—			—	$	30,462

Managers AMG Funds

Notes to Schedules of Portfolio Investments (continued)


	Quoted Prices in Active Markets for Identical Investments Level 1		Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3		Total
Managers Frontier Small Cap Growth Fund
Investments in Securities
Common Stocks	$	86,876,574		—		—	$	86,876,574
Warrants		1,382		—		—		1,382
Short-Term Investments
Repurchase Agreements		—	$	3,420,255		—		3,420,255
Other Investment Companies		3,009,357		—		—		3,009,357

Total Investments in Securities	$	89,887,313	$	3,420,255		—	$	93,307,568


	Quoted Prices in Active Markets for Identical Investments Level 1		Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3		Total
Managers Micro-Cap Fund
Investments in Securities
Common Stocks ^†	$	143,807,926	$	121,590		—	$	143,929,516
Exchange Traded Funds		244,606		—		—		244,606
Warrants		1,470		—		—		1,470
Short-Term Investments
Repurchase Agreements		—		14		—		14
Other Investment Companies		3,864,328		—		—		3,864,328

Total Investments in Securities	$	147,918,330	$	121,604		—	$	148,039,934


	Quoted Prices in Active Markets for Identical Investments Level 1		Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3		Total
Managers California Intermediate Tax-Free Fund
Investments in Securities
Municipal Bonds ^**		—	$	27,290,640		—	$	27,290,640
Other Investment Companies	$	419,492		—		—		419,492

Total Investments in Securities	$	419,492	$	27,290,640		—	$	27,710,132

†	For a detailed break-out of the common stocks by major industry classification, please refer to the Schedule of Portfolio Investments. The only Level 2 security is classified in the Industrials industry.

††	Derivative instruments, such as futures, options and forwards, are not reflected in the Schedule of Portfolio Investments. Futures and forwards are valued at the unrealized appreciation/depreciation of the instrument and options are shown at value.

†††	All exchange traded funds and exchange traded notes held in the Fund are level 1 securities. For a detailed breakout of these securities, please refer to the Schedule of Portfolio Investments.

††††	All U.S. government and agency obligations held in the Fund are level 2 securities. For a detailed breakout of the U.S. government and agency obligations by major industry or agency classification, please refer to the Schedule of Portfolio Investments.

**	All municipal bonds held in the Fund are Level 2 securities. For a detailed break-out of securities, please refer to the Schedule of Portfolio Investments.

As of January 31, 2013, the Funds had no transfers between levels from the beginning of the reporting period.

Managers AMG Funds

Notes to Schedules of Portfolio Investments (continued)

Options

A written option contract is a contract in which the writer of the option grants the buyer of the option the right to purchase from (call option) or sell to (put option) the writer a designated instrument at a specified price within a specified period of time. Options written (sold) are recorded as liabilities. When an option expires, the premium (original option value) is realized as a gain if the option was written or as a loss if the option was purchased. When the exercise of an option results in a cash settlement, the difference between the premium and the settlement proceeds is recognized as realized gain or loss. When securities are acquired or delivered upon exercise of an option, the acquisition cost or sale proceeds are adjusted by the amount of the premium. When an option is closed, the difference between the premium and the cost to close the position is realized as a gain or loss.

At January 31, 2013, the Funds had the following open written options:


Managers AMG FQ U.S. Equity Fund
Description	Exercise Price		Expiration Date		Number of Contracts		Premium		Unrealized Gain/(Loss)
S&P 500 Index (Call)		1,520		02/16/13		100	$	29,850	$	(16,150	)
S&P 500 Index (Call)		1,540		02/16/13		245		32,707		6,982
S&P 500 Index (Put)		1,340		02/16/13		245		31,483		19,233
S&P 500 Index (Put)		1,370		02/16/13		100		19,850		13,350

Total							$	113,890	$	23,415

Transactions in written put and call options for the period from November 1, 2012 to January 31, 2013, were as follows:


	Number of Contracts			Amount of Premiums
Options outstanding at October 31, 2012		490		$	227,265
Options written		2,030			674,880
Options exercised/expired/closed		(1,830	)		(788,255	)

Options outstanding at January 31, 2013		690		$	113,890

Futures Contracts

A Fund may purchase or sell futures contracts to achieve a desired level of investment, whether to accommodate portfolio turnover or cash flows from capital shares transactions. There are certain risks associated with futures contracts. Prices may not move as expected or a Fund may not be able to close out the contract when it desires to do so, resulting in losses. Futures are valued at their quoted daily settlement prices. The aggregate principal amounts of the contracts are not recorded in the financial statements. All futures contracts are exchange traded unless otherwise noted. The counterparty for all OTC contracts is Morgan Stanley.

At January 31, 2013, the Funds had the following open futures contracts:

Managers AMG FQ U.S. Equity Fund - Futures Contracts

Type

Number of Contracts

Position

Expiration
Date

Unrealized
Loss

S&P 500 E-Mini Index

Long

03/15/13

8,116

Managers AMG Funds

Notes to Schedules of Portfolio Investments (continued)

Managers AMG FQ Global Alternatives Fund - Futures Contracts

Type

Currency

Number of Contracts

Position

Type

Expiration
Date

Unrealized
Gain/(Loss)

Amsterdam Index

EUR

173

Long

Exchange

02/15/13

268,971

Australia 10-Year bond

AUD

140

Short

Exchange

03/15/13

365,024

Australian SPI 200

AUD

Short

Exchange

03/21/13

(383,245

)

CAC40 Index

EUR

680

Short

Exchange

02/15/13

(240,998

)

Canadian 10-Year bond

CAD

285

Short

OTC

03/19/13

560,319

DAX Index

EUR

Long

Exchange

03/15/13

369,988

Euro-Bund 10-Year

EUR

159

Long

OTC

03/07/13

(534,222

)

FTSE 100 Index

GBP

Long

Exchange

03/15/13

149,790

FTSE/MIB Index

EUR

252

Short

Exchange

03/15/13

(1,759,122

)

Hang Seng Index

HKD

Long

Exchange

02/27/13

62,240

IBEX 35 Index

EUR

135

Long

Exchange

02/15/13

(321,112

)

Japanese 10-Year Bond

JPY

858

Short

Exchange

03/08/13

19,450

S&P 500 E-Mini Index

USD

292

Short

Exchange

03/15/13

(892,468

)

S&P/TSX 60 Index

CAD

Long

Exchange

03/14/13

(21,380

)

TOPIX Index

JPY

Short

Exchange

03/07/13

(27,205

)

U.K. 10-Year Gilt

GBP

339

Long

Exchange

03/26/13

(1,003,678

)

U.S. Treasury 10-Year Note

USD

700

Long

OTC

03/19/13

(1,244,070

)

Total

(4,631,718

)

Managers AMG FQ Global Essentials Fund - Futures Contracts

Type

Currency

Number of Contracts

Position

Expiration
Date

Unrealized
Gain/(Loss)

Amsterdam Index

EUR

Long

02/15/13

30,949

Australia 10-Year bond

AUD

162

Long

03/15/13

(431,731

)

Australian SPI 200

AUD

Long

03/21/13

174,359

CAC40 Index

EUR

Long

02/15/13 to 03/15/13

31,979

Canadian 10-Year bond

CAD

156

Long

03/19/13

(310,330

)

DAX Index

EUR

Long

03/15/13

51,120

E-Mini MSCI Index

USD

172

Long

03/15/13

261,070

Euro-Bund 10-Year

EUR

Long

03/07/13

(188,033

)

Euro-Bund 30-Year

EUR

Long

03/07/13

(28,292

)

Managers AMG Funds

Notes to Schedules of Portfolio Investments (continued)

Type

Currency

Number of Contracts

Position

Expiration
Date

Unrealized
Gain/(Loss)

FTSE 100 Index

GBP

Long

03/15/13

87,139

FTSE/MIB Index

EUR

Long

03/15/13

117,236

Hang Seng Index

HKD

Long

02/27/13

7,697

IBEX 35 Index

EUR

Long

02/15/13

(30,366

)

Russell 2000 Index

USD

108

Long

03/15/13

824,347

S&P 500 E-Mini Index

USD

Long

03/15/13

150,140

S&P/TSX 60 Index

CAD

Long

03/14/13

96,922

TOPIX Index

JPY

Long

03/07/13

390,699

U.K. 10-Year Gilt

GBP

151

Long

03/26/13

(544,675

)

U.S. Treasury Long Bond

USD

126

Long

03/19/13

(659,768

)

Total

30,462

At January 31, 2013, the Funds had the following foreign currency contracts (in U.S. Dollars):

Managers AMG FQ Global Alternatives Fund - Foreign Currency


Foreign Currency	Position		Settlement Date		Counterparty		Receivable Amount		Payable Amount		Unrealized Gain/ (Loss)
Australian Dollar		Long		03/20/13		GS	$	5,148,449	$	5,192,224	$	(43,775	)
British Pound		Long		03/20/13		MS		36,211,744		36,762,136		(550,392	)
Euro		Long		03/20/13		GS		59,971,619		57,911,860		2,059,759
Euro		Long		03/20/13		MS		41,611,070		40,216,603		1,394,467
Japanese Yen		Long		03/21/13		GS		13,706,052		14,520,445		(814,393	)
New Zealand Dollar		Long		03/20/13		GS		13,740,705		13,544,212		196,493
New Zealand Dollar		Long		03/20/13		MS		21,588,564		21,232,470		356,094
Norwegian Krone		Long		03/20/13		GS		23,544,460		22,924,084		620,376
Norwegian Krone		Long		03/20/13		MS		13,050,014		12,662,041		387,973
Singapore Dollar		Long		03/20/13		GS		5,139,303		5,166,964		(27,661	)
Singapore Dollar		Long		03/20/13		MS		2,391,849		2,429,529		(37,680	)
Swedish Krona		Long		03/20/13		GS		5,801,351		5,677,536		123,815
Swedish Krona		Long		03/20/13		MS		22,993,293		22,139,139		854,154
Australian Dollar		Short		03/20/13		GS		16,978,920		16,961,611		17,309
Australian Dollar		Short		03/20/13		MS		42,649,818		42,731,219		(81,401	)
British Pound		Short		03/20/13		GS		3,177,283		3,129,150		48,133

Managers AMG Funds

Notes to Schedules of Portfolio Investments (continued)


Foreign Currency	Position		Settlement Date		Counterparty	Receivable Amount		Payable Amount		Unrealized Gain/ (Loss)
Canadian Dollar		Short		03/20/13	GS	$	33,555,282	$	33,373,155	$	182,127
Canadian Dollar		Short		03/20/13	MS		13,101,568		13,033,510		68,058
Canadian Dollar		Short		03/20/13	MS		4,773,473		4,818,255		(44,782	)
Euro		Short		03/20/13	GS		17,658,977		18,360,549		(701,572	)
Japanese Yen		Short		03/20/13	GS		13,799,170		12,386,087		1,413,083
Japanese Yen		Short		03/21/13	GS		9,733,637		9,592,731		140,906
Japanese Yen		Short		03/20/13	MS		13,747,317		12,386,087		1,361,230
New Zealand Dollar		Short		03/20/13	GS		73,615,018		74,764,867		(1,149,849	)
New Zealand Dollar		Short		03/20/13	MS		4,033,820		4,026,954		6,866
Norwegian Krone		Short		03/20/13	GS		14,630,762		14,966,283		(335,521	)
Singapore Dollar		Short		03/20/13	GS		31,386,698		30,903,081		483,617
Swedish Krona		Short		03/20/13	GS		40,615,414		42,231,914		(1,616,500	)

Total						$	598,355,630	$	594,044,696	$	4,310,934

Investments Definitions and Abbreviations:

ADR: ADR after the name of a holding stands for American Depositary Receipt, representing ownership of foreign securities on deposit with a domestic custodian bank. The value of the ADR security is determined or significantly influenced by trading on exchanges not located in the United States or Canada. Sponsored ADRs are initiated by the underlying foreign company.

REIT: Real Estate Investment Trust

Currency and Counterparty Abbreviations:


MS:	Morgan Stanley	GS:	Goldman Sachs Group, Inc.
AUD:	Australian Dollar	HKD:	Hong Kong Dollar
CAD:	Canadian Dollar	JPY:	Japanese Yen
EUR:	Euro	USD:	U.S. Dollar
GBP:	British Pound	OTC:	Over-the-counter

Managers PIMCO Bond Fund

Schedule of Portfolio Investments

January 31, 2013 (unaudited)


	Principal Amount ^†		Value
Asset-Backed Securities - 2.0%
Amortizing Residential Collateral Trust, Series 2002-BC4, 0.784%, 07/25/32 (02/25/13) ¹	$	77,398	$	67,010
Bear Stearns Asset-Backed Securities, Inc., Series 2006-AQ1, Class 2A1, 0.284%, 10/25/36 (02/25/13) ¹		65,859		63,363
Countrywide Asset-Backed Certificates, Series 2007-2, Class 2A2, 0.304%, 08/25/37 (02/25/13) ¹		8,293,319		8,134,647
EFS Volunteer No. 2 LLC, Series 1, Class A1, 1.090%, 07/26/27 (02/25/13) (a) ¹		1,909,001		1,927,095
EMC Mortgage Loan Trust, Series 2001-A, Class A, 0.944%, 05/25/40 (02/25/13) (a) ¹		553,429		517,341
First NLC Trust, Series 2007-1, Class A1, 0.274%, 08/25/37 (02/25/13) (a) ¹		667,545		330,496
Fremont Home Loan Trust, Series 2006-E, Class 2A1, 0.264%, 01/25/37 (02/25/13) ¹		39,711		18,320
Long Beach Mortgage Loan Trust, Series 2004-4, Class 1A1, 0.764%, 10/25/34 (02/25/13) ¹		55,661		49,830
Morgan Stanley IXIS Real Estate Capital Trust, Series 2006-2, Class A1, 0.254%, 11/25/36 (02/25/13) ¹		11,554		5,002
Park Place Securities, Inc., Series 2005-WCW1, Class A1B, 0.464%, 09/25/35 (02/25/13) ¹		1,587,551		1,542,078
Securitized Asset Backed Receivables LLC,
Series 2007-HE1, Class A2A, 0.264%, 12/25/36 (02/25/13) ¹		460,045		136,603
Series 2007-NC2, 0.244%, 01/25/37 (02/25/13) ¹		113,472		107,499
Small Business Administration Participation Certificates,
Series 2003-20I, Class 1, 5.130%, 09/01/23		67,782		74,990
Series 2007-20K, Class 1, 5.510%, 11/01/27		3,054,927		3,516,225
Series 2008-10E, Class 1, 5.110%, 09/01/18		1,328,288		1,427,574
Series 2008-20I, Class 1, 5.600%, 09/01/28		6,661,498		7,722,235
Series 2009-20E, Class 1, 4.430%, 05/01/29		3,952,721		4,370,322
Structured Asset Securities Corp., Series 2002-HF1, 0.784%, 01/25/33 (02/25/13) ¹		46,531		44,787
Total Asset-Backed Securities (cost $28,688,175)				30,055,417
Bank Loan Obligations - 0.1%
American Governmental Financial Services Funding Co., Term Loan, 5.662%, 05/18/17 (cost $1,194,000)		1,200,000		1,206,450
Corporate Bonds and Notes - 15.6%
Financials - 11.5%
AK Transneft OJSC Via TransCapitalInvest, Ltd., 8.700%, 08/07/18 (a)		600,000		768,900
Allstate Life Global Funding Trusts, MTN, 5.375%, 04/30/13		1,600,000		1,619,443
Ally Financial, Inc.,
3.510%, 02/11/14 (02/11/13) ¹		1,000,000		1,018,870
4.500%, 02/11/14		7,700,000		7,931,000
5.500%, 02/15/17		3,300,000		3,563,809
7.500%, 12/31/13		1,500,000		1,578,750
7.500%, 09/15/20		1,100,000		1,326,875
8.300%, 02/12/15		800,000		893,000
American International Group, Inc.,
5.050%, 10/01/15		400,000		439,289
6.250%, 03/15/37		800,000		857,000
8.250%, 08/15/18		4,500,000		5,854,604
MTN, 5.600%, 10/18/16		800,000		911,543
ANZ National International, Ltd., 6.200%, 07/19/13 (a)		1,800,000		1,847,018
Australia and New Zealand Banking Group, Ltd., 2.125%, 01/10/14 (a) ²		2,400,000		2,437,128
Banco Santander Brasil SA, 4.500%, 04/06/15 (a)		200,000		208,500

Managers PIMCO Bond Fund

Schedule of Portfolio Investments (continued)


		Principal Amount ^†		Value
Financials - 11.5% (continued)
Bank of America Corp.,
4.500%, 04/01/15		$	10,000,000	$	10,650,310
6.000%, 10/15/36			900,000		1,092,575
6.500%, 08/01/16			2,800,000		3,240,095
Bank of China (Hong Kong), Ltd., 5.550%, 02/11/20 (a)			400,000		447,753
Bank of Montreal,
1.950%, 01/30/17 (a) ³			600,000		623,578
2.850%, 06/09/15 (a)			800,000		842,560
Bank of Nova Scotia,
1.650%, 10/29/15 (a)			900,000		924,468
1.950%, 01/30/17 (a)			200,000		207,907
BBVA Bancomer SA,
4.500%, 03/10/16 (a)			500,000		531,250
6.500%, 03/10/21 (a)			900,000		1,035,000
BPCE SA, 2.375%, 10/04/13 (a) ²			400,000		404,060
Braskem Finance, Ltd., 5.750%, 04/15/21 (a)			400,000		422,000
CIT Group, Inc., 5.250%, 04/01/14 (a)			300,000		313,875
Citigroup, Inc.,
2.310%, 08/13/13 (02/13/13) ¹			1,100,000		1,110,054
5.850%, 07/02/13			100,000		102,028
6.125%, 08/25/36 ³			4,200,000		4,681,740
EMTN, Class B, 1.458%, 11/30/17 ⁴	EUR		3,800,000		4,858,143
MTN, 5.500%, 10/15/14			5,800,000		6,215,454
Commonwealth Bank of Australia, 0.725%, 07/12/13 (04/12/13) (a) ¹			7,500,000		7,517,168
Credit Suisse New York, 2.200%, 01/14/14			800,000		812,651
Dexia Credit Local SA, 0.781%, 04/29/14 (04/29/13) (a) ¹			4,100,000		4,055,515
Ford Motor Credit Co. LLC,
7.000%, 04/15/15			1,400,000		1,554,087
8.700%, 10/01/14			1,000,000		1,117,605
General Electric Capital Corp., 5.500%, 09/15/67 (a) ⁴	EUR		1,900,000		2,580,284
Goldman Sachs Group, Inc., The,
1.312%, 02/07/14 (02/07/13) ¹			2,200,000		2,210,261
5.950%, 01/18/18			2,200,000		2,558,497
6.150%, 04/01/18			2,000,000		2,352,354
HSBC Bank PLC, 2.000%, 01/19/14 (a) ²			800,000		807,932
International Lease Finance Corp.,
5.750%, 05/15/16			300,000		324,243
5.875%, 05/01/13			400,000		403,350
6.750%, 09/01/16 (a)			800,000		906,000
GMTN, 6.375%, 03/25/13			400,000		403,200
Intesa Sanpaolo S.p.A, 2.712%, 02/24/14 (02/25/13) (a) ^1,2			1,700,000		1,711,932
JPMorgan Chase & Co.,
6.000%, 01/15/18			1,500,000		1,783,681
EMTN, 0.434%, 09/26/13 (03/26/13) ¹	EUR		200,000		271,888

Managers PIMCO Bond Fund

Schedule of Portfolio Investments (continued)


		Principal Amount ^†		Value
Financials - 11.5% (continued)
JPMorgan Chase Bank, NA,
0.640%, 06/13/16 (03/13/13) ¹		$	1,300,000	$	1,276,961
0.878%, 05/31/17 ⁴	EUR		900,000		1,197,090
LBG Capital No. 1 PLC,
8.500%, 12/29/49 (a) ^2,4,5			400,000		427,804
Series 8, 7.869%, 08/25/20 ³	GBP		2,300,000		3,861,193
Lloyds TSB Bank PLC, 6.350%, 10/29/49 ^4,5	EUR		1,800,000		1,979,660
Merrill Lynch & Co., Inc., GMTN, 6.400%, 08/28/17			3,400,000		3,986,694
Morgan Stanley,
GMTN, 2.810%, 05/14/13 (02/14/13) ¹			1,200,000		1,206,876
GMTN, 7.300%, 05/13/19			200,000		245,142
MTN, 5.950%, 12/28/17			1,800,000		2,067,775
National Australia Bank, Ltd., 5.350%, 06/12/13 (a)			1,500,000		1,527,128
Nationwide Building Society, 6.250%, 02/25/20 (a) ^2,3			1,800,000		2,082,200
Nordea Bank AB, 2.125%, 01/14/14 (a) ²			400,000		403,916
Principal Life Income Funding Trusts,
MTN, 5.300%, 04/24/13			1,500,000		1,516,042
MTN, 5.550%, 04/27/15			2,300,000		2,533,282
Qatari Diar Finance “Q.S.C.”, 3.500%, 07/21/15			900,000		945,000
Resona Bank, Ltd., 5.850%, 09/29/49 (a) ^2,4,5			500,000		537,108
Royal Bank of Scotland Group PLC, The, 6.990%, 10/29/49 (a) ^2,4,5			2,600,000		2,470,000
Santander SA US Debt Unipersonal, 2.991%, 10/07/13 (a) ²			3,700,000		3,724,409
SLM Corp., MTN, 6.250%, 01/25/16			300,000		331,592
Springleaf Finance Corp., 4.125%, 11/29/13	EUR		3,900,000		5,329,808
State Bank of India, 4.500%, 07/27/15 (a)			2,900,000		3,050,287
State Street Capital Trust IV, 1.308%, 06/15/37 (03/15/13) ¹			300,000		235,500
Stone Street Trust, 5.902%, 12/15/15 (a)			2,800,000		3,054,444
Sumitomo Mitsui Banking Corp., 1.950%, 01/14/14 (a) ²			1,000,000		1,010,227
Temasek Financial I, Ltd., 4.300%, 10/25/19 (a)			900,000		1,021,333
UBS AG,
5.875%, 12/20/17			1,300,000		1,545,019
Series FRN, 1.301%, 01/28/14 (04/29/13) ¹			300,000		302,154
Vnesheconombank Via VEB Finance PLC, 5.450%, 11/22/17 (a)			400,000		441,680
Wachovia Corp., MTN, 0.489%, 08/01/13 (05/01/13) ¹			300,000		300,344
Wells Fargo & Co., Series K, 7.980%, 03/29/49 ^4,5			14,600,000		16,808,250
Westpac Banking Corp., 3.585%, 08/14/14 (a) ²			3,800,000		3,975,792
Total Financials					169,723,937
Industrials - 3.9%
AbbVie, Inc., 1.072%, 11/06/15 (02/06/13) (a) ^1,2			2,900,000		2,946,374
Altria Group, Inc., 9.700%, 11/10/18			406,000		561,002
Amgen, Inc., 6.150%, 06/01/18			4,900,000		5,939,030
AT&T, Inc., 6.300%, 01/15/38			1,200,000		1,470,326
Caterpillar, Inc., 0.482%, 05/21/13 (02/21/13) ¹			4,200,000		4,203,339

Managers PIMCO Bond Fund

Schedule of Portfolio Investments (continued)


		Principal Amount ^†		Value
Industrials - 3.9% (continued)
Comcast Corp., 6.450%, 03/15/37		$	100,000	$	124,094
Corp Nacional del Cobre de Chile, 7.500%, 01/15/19 (a)			1,500,000		1,915,376
Gazprom OAO Via Gaz Capital SA,
5.092%, 11/29/15 (a)			200,000		213,000
6.212%, 11/22/16 (a)			400,000		447,000
Gerdau Trade, Inc., 5.750%, 01/30/21 (a)			400,000		444,000
Hewlett-Packard Co., 0.592%, 05/24/13 (02/25/13) ¹			4,900,000		4,891,043
International Business Machines Corp., 5.700%, 09/14/17			1,400,000		1,680,419
Noble Group, Ltd., 4.875%, 08/05/15 (a)			1,000,000		1,057,000
Novatek OAO via Finance, Ltd., 5.326%, 02/03/16 (a)			400,000		428,200
Odebrecht Drilling VIII/IX, Ltd., 6.350%, 06/30/21 (a)			380,000		427,500
Petrobras International Finance Co.,
3.875%, 01/27/16			3,300,000		3,472,630
5.875%, 03/01/18			2,300,000		2,597,162
Petroleos Mexicanos, 8.000%, 05/03/19			5,100,000		6,553,500
Qtel International Finance, Ltd., 4.750%, 02/16/21 (a)			200,000		222,750
Ras Laffan Liquefied Natural Gas Co., Ltd., 5.298%, 09/30/20 (a)			717,750		806,392
Rohm & Haas Co., 6.000%, 09/15/17			1,100,000		1,293,557
Tennessee Gas Pipeline Co., 7.000%, 10/15/28			6,145,000		8,193,091
Time Warner, Inc., 5.875%, 11/15/16			1,200,000		1,402,739
UAL 2009-1 Pass Through Trust, 10.400%, 11/01/16			317,882		368,743
UnitedHealth Group, Inc., 4.875%, 02/15/13			1,600,000		1,601,914
Vale Overseas, Ltd., 6.875%, 11/21/36			500,000		590,547
Volkswagen International Finance NV, 0.918%, 04/01/14 (04/01/13) (a) ¹			2,900,000		2,909,561
Total Industrials					56,760,289
Utilities - 0.2%
ENN Energy Holdings, Ltd., 6.000%, 05/13/21 (a)			200,000		230,815
Entergy Corp., 3.625%, 09/15/15			2,200,000		2,291,333
Majapahit Holding, B.V., 7.750%, 01/20/20			700,000		875,000
Tokyo Electric Power Co., Inc., The,
Series 513, 1.500%, 05/30/14	JPY		1,000,000		10,863
Series 527, 1.850%, 07/28/14	JPY		7,000,000		76,245
Total Utilities					3,484,256
Total Corporate Bonds and Notes (cost $207,025,367)					229,968,482
Foreign Government and Agency Obligations - 10.1%
Banco do Brasil SA,
Bonds, 5.875%, 01/19/23 (a)			200,000		217,000
Notes, Series YCD, 0.384%, 06/28/13 ⁶			10,000,000		9,984,440
Banco Nacional de Desenvolvimento Economico e Social Notes, 4.125%, 09/15/17	EUR		400,000		586,349
Brazil Notas do Tesouro Nacional, Series F,
Bonds, 10.000%, 01/01/21	BRL		27,000		14,139
Bonds, 10.000%, 01/01/23	BRL		16,000		8,341
Notes, 10.000%, 01/01/17	BRL		1,939,000		1,020,899

Managers PIMCO Bond Fund

Schedule of Portfolio Investments (continued)


		Principal Amount ^†		Value
Foreign Government and Agency Obligations - 10.1% (continued)
British Columbia Bonds, Province of, 4.300%, 06/18/42	CAD		300,000	$	345,355
Export-Import Bank of Korea, The, Notes, 8.125%, 01/21/14			1,000,000		1,070,374
Italy Buoni Poliennali Del Tesoro,
Bonds, Series CPI, 2.100%, 09/15/21	EUR		964,503		1,262,121
Notes, 2.500%, 03/01/15	EUR		1,600,000		2,200,817
Notes, 3.500%, 06/01/14	EUR		400,000		558,584
Notes, 3.500%, 11/01/17	EUR		11,100,000		15,356,972
Notes, 4.500%, 07/15/15	EUR		500,000		717,104
Notes, 4.750%, 09/15/16	EUR		2,400,000		3,505,345
Notes, 6.000%, 11/15/14	EUR		200,000		292,434
Korea Development Bank Notes, The, 4.375%, 08/10/15			3,500,000		3,784,025
Korea Finance Corp. Notes, 3.250%, 09/20/16			800,000		851,461
Korea Housing Finance Corp. Notes, 4.125%, 12/15/15			500,000		541,160
Mexican Fixed Rate,
Bonds, Series M 20, 10.000%, 12/05/24	MXN		900,000		101,002
Notes, Series M, 6.000%, 06/18/15	MXN		10,000,000		815,481
Notes, Series M 10, 7.750%, 12/14/17	MXN		11,200,000		999,189
Ontario Bonds, Province of,
2.850%, 06/02/23	CAD		300,000		296,589
4.000%, 06/02/21	CAD		4,000,000		4,391,899
4.200%, 06/02/20	CAD		2,500,000		2,783,312
4.300%, 03/08/17	CAD		1,000,000		1,098,296
4.400%, 06/02/19	CAD		1,400,000		1,574,712
4.700%, 06/02/37	CAD		2,600,000		3,067,552
Bonds, 3.150%, 06/02/22	CAD		4,300,000		4,408,772
MTN, 4.600%, 06/02/39	CAD		700,000		820,419
MTN, 5.500%, 06/02/18	CAD		400,000		468,322
Ontario Notes, Province of,
1.650%, 09/27/19			1,300,000		1,288,105
3.000%, 07/16/18 ³			400,000		433,467
4.200%, 03/08/18	CAD		200,000		221,247
Panama Government Bonds, 7.250%, 03/15/15			200,000		224,000
Quebec Bonds, Province of,
2.750%, 08/25/21			900,000		927,776
3.000%, 09/01/23	CAD		300,000		297,338
3.500%, 07/29/20			500,000		550,161
3.500%, 12/01/22	CAD		8,100,000		8,452,213
4.250%, 12/01/21	CAD		5,100,000		5,663,536
4.250%, 12/01/43	CAD		1,200,000		1,330,491
4.500%, 12/01/16	CAD		100,000		110,334
4.500%, 12/01/17	CAD		100,000		111,622
MTN, 4.500%, 12/01/18	CAD		500,000		563,164
Spain Government Bonds,
3.150%, 01/31/16	EUR		8,300,000		11,316,215

Managers PIMCO Bond Fund

Schedule of Portfolio Investments (continued)


		Principal Amount ^†		Value
Foreign Government and Agency Obligations - 10.1% (continued)
Spain Government Bonds,
3.800%, 01/31/17	EUR		600,000	$	825,249
4.400%, 01/31/15 ³	EUR		900,000		1,271,871
Spain Government Notes,
3.000%, 04/30/15	EUR		300,000		411,492
3.300%, 10/31/14	EUR		1,600,000		2,210,322
3.750%, 10/31/15	EUR		17,500,000		24,277,142
4.250%, 10/31/16	EUR		17,100,000		23,946,130
4.500%, 01/31/18	EUR		1,100,000		1,535,403
Total Foreign Government and Agency Obligations (cost $142,271,323)					149,109,743
Mortgage-Backed Securities - 4.1%
American Home Mortgage Investment Trust, Series 2004-4, Class 4A, 2.508%, 02/25/45 (03/25/13) ¹			493,996		485,888
Arran Residential Mortgages Funding PLC,
Series 2010-1A, Class A1B, 1.391%, 05/16/47 (02/18/13) (a) ¹	EUR		39,792		54,072
Series 2010-1A, Class A2B, 1.591%, 05/16/47 (02/18/13) (a) ¹	EUR		2,000,000		2,765,325
Bank of America Funding Corp., Series 2005-D, Class A1, 2.619%, 05/25/35 (03/25/13) ¹			638,494		653,016
Bear Stearns Adjustable Rate Mortgage Trust,
Series 2000-2, Class A, 2.785%, 11/25/30 (03/25/13) ¹			16,263		16,687
Series 2002-11, Class 1A1, 2.978%, 02/25/33 (03/25/13) ¹			22,407		22,661
Series 2003-1, Class 6A1, 2.514%, 04/25/33 (03/25/13) ¹			244,039		247,400
Series 2005-2, Class A1, 2.570%, 03/25/35 (03/25/13) ¹			6,956,698		7,046,784
Series 2005-2, Class A2, 2.793%, 03/25/35 (03/25/13) ¹			3,884,578		3,925,718
Series 2005-5, Class A2, 2.320%, 08/25/35 (03/25/13) ¹			9,461,511		9,661,059
Series 2005-12, Class 13A, 5.369%, 02/25/36 (03/25/13) ¹			230,585		228,331
Bear Stearns Alt-A Trust,
Series 2005-4, Class 23A1, 2.883%, 05/25/35 (03/25/13) ¹			1,267,985		1,162,613
Series 2005-7, Class 22A1, 2.966%, 09/25/35 (03/25/13) ¹			611,931		512,573
Bear Stearns Commercial Mortgage Securities, Series 2007-PW18, Class A4, 5.700%, 06/11/50			2,800,000		3,309,646
Citigroup Mortgage Loan Trust, Inc.,
Series 2005-6, Class A1, 2.270%, 09/25/35 (03/25/13) ¹			5,119,407		5,094,842
Series 2005-11, Class A2A, 2.570%, 10/25/35 (03/25/13) ¹			290,970		286,909
Countrywide Alternative Loan Trust, Series 2007-OA7, Class A1A, 0.384%, 05/25/47 (02/25/13) ¹			1,177,067		872,491
Countrywide Home Loans Mortgage Pass Through Trust, Series 2005-HYB9, Class 3A2A, 2.783%, 02/20/36 (03/20/13) ¹			334,306		302,977
Greenpoint Mortgage Funding Trust,
Series 2006-AR6, Class A1A, 0.284%, 10/25/46 (02/25/13) ¹			11		11
Series 2006-AR8, Class 1A1A, 0.284%, 01/25/47 (02/25/13) ¹			32		32
GS Mortgage Securities Corp., Series 2007-EOP, Class A1, 1.103%, 03/06/20 (02/06/13) (a) ¹			1,340,153		1,342,606
GSR Mortgage Loan Trust, Series 2005-AR7, Class 6A1, 5.121%, 11/25/35 (03/25/13) ¹			912,871		904,019
Indymac Index Mortgage Loan Trust, Series 2005-AR31, Class 1A1, 2.511%, 01/25/36 (03/25/13) ¹			1,418,481		1,105,849
JPMorgan Chase Commercial Mortgage Securities Corp.,
Series 2006-LDP9, Class A3, 5.336%, 05/15/47			2,100,000		2,393,033
Series 2010-C2, Class A3, 4.070%, 11/15/43 (a)			2,000,000		2,248,023
JPMorgan Mortgage Trust, Series 2005-A1, Class 6T1, 4.961%, 02/25/35 (03/25/13) ¹			312,063		317,504

Managers PIMCO Bond Fund

Schedule of Portfolio Investments (continued)


		Principal Amount ^†		Value
Mortgage-Backed Securities - 4.1% (continued)
Merrill Lynch Mortgage Investors, Inc., Series 2005-A10, Class A, 0.414%, 02/25/36 (02/25/13) ¹		$	739,649	$	661,033
MLCC Mortgage Investors, Inc., Series 2005-3, Class 4A, 0.454%, 11/25/35 (02/25/13) ¹			146,036		140,654
Morgan Stanley Capital I, Series 2007-IQ16, Class A4, 5.809%, 12/12/49			3,000,000		3,534,037
Opera Finance PLC, Series CSC3, Class A, 0.741%, 04/25/17 (04/25/13) ¹	GBP		2,083,685		3,230,352
Opteum Mortgage Acceptance Corp. Asset Backed Pass-Through Certificates, Series 2005-5, Class 1APT, 0.484%, 12/25/35 (02/25/13) ¹			2,385,018		2,051,558
Prime Mortgage Trust,
Series 2004-CL1, Class 1A2, 0.604%, 02/25/34 (02/25/13) ¹			124,445		118,039
Series 2004-CL1, Class 2A2, 0.604%, 02/25/19 (02/25/13) ¹			5,563		5,459
Silenus European Loan Conduit N25 PLC, Series 25X, Class A, 0.342%, 05/15/19 (02/15/13) ¹	EUR		69,413		88,358
Structured Asset Mortgage Investments, Inc.,
Series 2002-AR3, Class A1, 0.865%, 09/19/32 (02/19/13) ¹			289,223		287,450
Series 2005-AR5, Class A2, 0.455%, 07/19/35 (02/19/13) ¹			794,619		795,676
Structured Asset Securities Corp.,
Series 2001-21A, Class 1A1, 2.552%, 01/25/32 (03/25/13) ¹			17,395		15,765
Series 2006-11, Class A1, 2.859%, 10/28/35 (03/28/13) (a) ¹			462,191		426,989
Wachovia Bank Commercial Mortgage Trust, Series 2007-WHL8, Class A1, Series 2007-WHL8, 0.286%, 06/15/20 (02/15/13) (a) ¹			1,630,541		1,611,027
WaMu Mortgage Pass-Through Certificates,
Series 2002-AR17, Class 1A, 1.371%, 11/25/42 (03/25/13) ¹			127,795		123,002
Series 2005-AR13, Class A1A1, 0.494%, 10/25/45 (02/25/13) ¹			268,808		254,109
Washington Mutual MSC Mortgage Pass-Through Certificates, Series 2002-AR1, 1.954%, 02/25/31 (03/25/13) ¹			3,232		3,248
Wells Fargo Mortgage Backed Securities Trust, Series 2006-AR2, Class 2A1, 2.625%, 03/25/36 ⁴			1,367,637		1,373,980
Total Mortgage-Backed Securities (cost $57,566,813)					59,680,805
Municipal Bonds - 4.3%
American Municipal Power, Inc., Combined Hydroelectric Projects Revenue, Taxable Build America, Series 2010 B, 8.084%, 02/15/50			1,000,000		1,447,930
Buckeye Tobacco Settlement Financing Authority, Tobacco Settlement Asset-Backed Bonds, Series 2007 A-2, 5.875%, 06/01/30			1,000,000		913,210
California Infrastructure & Economic Development Bank Revenue, UCSF Neurosciences Building 19A, Taxable Build America, Series 2010 B, 6.486%, 05/15/49			1,000,000		1,195,950
California State General Obligation, Build America Bonds, 7.500%, 04/01/34			1,300,000		1,835,223
California State General Obligation, Build America Bonds, 7.550%, 04/01/39			1,300,000		1,905,865
California State General Obligation, Build America Bonds, 7.600%, 11/01/40			1,000,000		1,486,200
California State General Obligation, Build America Bonds, 7.950%, 03/01/36			1,100,000		1,371,447
California State General Obligation, Various Purpose, 5.650%, 04/01/39			1,200,000		1,209,084
California State University Systemwide Revenue, Series 2009 A, 5.250%, 11/01/38			500,000		571,810
California State University Systemwide Revenue, Taxable Build America, Series 2010 B, 6.434%, 11/01/30			700,000		820,792
Calleguas-Las Virgenes, CA Public Financing Authority Water Revenue, Calleguas Municipal Water District, Taxable Build America, Series 2010 B, 5.944%, 07/01/40			1,000,000		1,195,290
Chicago, IL Transit Authority, Sales & Transfer Tax Receipts Revenue, Pension Funding, Series 2008 A, 6.300%, 12/01/21			100,000		115,267
Chicago, IL Transit Authority, Sales & Transfer Tax Receipts Revenue, Pension Funding, Series 2008 A, 6.899%, 12/01/40			1,600,000		1,940,320

Managers PIMCO Bond Fund

Schedule of Portfolio Investments (continued)


	Principal Amount ^†		Value
Municipal Bonds - 4.3% (continued)
Chicago, IL Transit Authority, Sales & Transfer Tax Receipts Revenue, Retiree Health Care, Series 2008 B, 6.300%, 12/01/21	$	200,000	$	230,534
Chicago, IL Transit Authority, Sales & Transfer Tax Receipts Revenue, Retiree Health Care, Series 2008 B, 6.899%, 12/01/40		1,700,000		2,061,590
Chicago, IL Transit Authority, Sales & Transfer Tax Receipts Revenue, Taxable Build America, Series 2010 B, 6.200%, 12/01/40		1,000,000		1,128,700
Chicago, IL Transit Authority, Sales Tax Receipts Revenue, Series 2016, 5.250%, 12/01/36		2,200,000		2,547,842
Clark County, NV Airport Revenue, Taxable Direct Payment Build America, Series C, 6.820%, 07/01/45		800,000		1,107,824
Illinois Municipal Electric Agency Power Supply System Revenue, Series C, 6.832%, 02/01/35		800,000		951,232
Irvine Ranch, CA District Joint Powers Agency Water Revenue, 2.388%, 03/15/14		2,800,000		2,807,420
Los Angeles County Public Works Financing Authority Revenue, Multiple Capital Projects I, Series 2010 B Taxable Build America, 7.488%, 08/01/33		200,000		256,958
Los Angeles County Public Works Financing Authority Revenue, Multiple Capital Projects I, Series 2010 B, Taxable Build America, 7.618%, 08/01/40		300,000		397,596
Los Angeles, CA Unified School District General Obligation, Series A-1, 4.500%, 07/01/22 (AGM Insured) ⁷		3,600,000		4,081,752
Los Angeles, CA Unified School District General Obligation, Taxable Build America, Series 2010 RY, 6.758%, 07/01/34		4,000,000		5,345,880
Los Angeles, CA Wastewater System Revenue, Series 2010 A, 5.713%, 06/01/39		1,000,000		1,159,610
New Jersey State Turnpike Authority Revenue, Series 2010 A, 7.102%, 01/01/41		800,000		1,121,648
New York City Municipal Finance Authority Revenue, Water and Sewer System General Resolution, Taxable Bond America, Series 2010 GG, 5.724%, 06/15/42		5,000,000		6,419,350
New York City Municipal Finance Authority Revenue, Water and Sewer System Second General Resolution, Taxable Bond America, Series 2011 CC, 5.882%, 06/15/44		1,100,000		1,449,217
New York City Municipal Finance Authority Revenue, Water and Sewer System Second General Resolution, Taxable Bond America, Series 2011 CC, 6.282%, 06/15/42		1,100,000		1,316,183
New York Liberty Development Corp., Liberty Revenue, 4 World Trade Center Project, 5.750%, 11/15/51		1,100,000		1,307,559
New York Metropolitan Transportation Authority Transit Revenue, Series E, 5.000%, 11/15/42		2,700,000		3,068,712
New York State Dormitory Authority, 5.000%, 12/15/30		2,000,000		2,407,380
North Carolina Turnpike Authority State Annual Appropriation Revenue, Triangle Expressway System, Taxable Build America, Series 2009 B, 6.700%, 01/01/39		900,000		1,048,761
Public Power Generation Agency Revenue, Whelan Energy Center Unit 2, Taxable Build America, Series 2009 A, 7.242%, 01/01/41		1,200,000		1,416,900
San Francisco Bay Area Toll Authority Subordinate Toll Bridge Revenue, Series 2010 S-1, 7.043%, 04/01/50		900,000		1,279,422
Texas State Transportation Commission Mobility Fund, Series 2005 A, 4.750%, 04/01/35		700,000		745,752
Truckee Meadows Water Authority Revenue, Series 2005 A, 5.000%, 07/01/36 (NATL-RE) ⁷		200,000		210,926
University of California General Revenue, Taxable Build America, Series 2009 R, 6.270%, 05/15/31		2,500,000		2,896,250
University of California Medical Center Regents Revenue, Series 2010 H, 6.548%, 05/15/48		300,000		387,588
University of California Medical Center Regents Revenue, Series 2010 H, 6.398%, 05/15/31		200,000		247,130
Total Municipal Bonds (cost $52,629,304)				63,408,104

	Shares
Municipal Closed-End Bond Funds - 0.5%
Dreyfus Municipal Income, Inc.		37,500		403,875
DWS Municipal Income Trust ³		55,000		830,500
Invesco Van Kampen Advantage Municipal Income Trust II		61,796		841,662
Invesco Van Kampen Trust for Investment Grade Municipals		55,000		869,000
MFS Municipal Income Trust		53,800		421,792

Managers PIMCO Bond Fund

Schedule of Portfolio Investments (continued)


	Shares		Value
Municipal Closed-End Bond Funds - 0.5% (continued)
Nuveen Performance Plus Municipal Fund		55,000	$	915,750
Nuveen Premium Income Municipal Fund II		55,000		862,400
Nuveen Premium Income Municipal Fund IV		55,000		808,500
Nuveen Quality Income Municipal Fund		55,000		869,000
Total Municipal Closed-End Bond Funds (cost $6,147,228)				6,822,479
Preferred Stocks - 0.3%
DG Funding Trust, 0.038% (Financials) ² (cost $6,037,773)		573		4,159,287

	Principal ^†
U.S. Government and Agency Obligations - 88.0%
Federal Home Loan Mortgage Corporation - 7.0%
FHLMC,
1.000%, 03/08/17 to 09/29/17 ³	$	28,600,000		28,795,925
1.250%, 08/01/19 to 10/02/19 ³		4,700,000		4,657,787
1.750%, 05/30/19 ³		1,200,000		1,230,304
2.375%, 01/13/22		900,000		926,780
2.533%, 07/01/30 (04/15/13) ¹		1,930		1,999
3.035%, 11/01/34 (04/15/13) ¹		1,301,467		1,393,070
3.750%, 03/27/19		1,200,000		1,374,491
5.000%, 02/16/17		2,000,000		2,340,838
5.095%, 08/01/35 (04/15/13) ¹		80,071		86,190
5.500%, 08/23/17		100,000		120,770
FHLMC Gold Pool,
4.000%, 09/01/40 to 12/01/41		11,142,233		11,828,037
4.000%, TBA		8,000,000		8,483,750
4.500%, 06/01/23 to 07/01/41		5,223,208		5,586,940
5.500%, 11/01/26 to 05/01/40		14,045,107		15,210,421
5.500%, TBA		1,000,000		1,080,938
6.000%, 02/01/16 to 11/01/37		10,716,556		11,694,553
6.500%, 01/01/26		15,369		17,780
FHLMC REMICS,
0.356%, 07/15/19 to 08/15/19 (02/15/13) ¹		2,104,864		2,105,703
0.506%, 05/15/36 (02/15/13) ¹		893,835		895,802
0.706%, 09/15/30 (02/15/13) ¹		29,684		29,843
6.500%, 08/15/31		3,652,775		4,145,388
7.000%, 11/15/20		12,707		13,751
7.500%, 08/15/30		200,046		236,546
FHLMC Structured Pass Through Securities, 1.366%, 02/25/45 (03/25/13) ¹		126,412		121,238
Total Federal Home Loan Mortgage Corporation				102,378,844

Managers PIMCO Bond Fund

Schedule of Portfolio Investments (continued)


	Principal ^†		Value
Federal National Mortgage Association - 41.7%
FNMA,
0.875%, 08/28/17 to 02/08/18	$	9,100,000	$	9,069,181
1.250%, 01/30/17		2,400,000		2,449,673
1.366%, 07/01/44 (03/25/13) ¹		151,940		154,335
2.310%, 08/01/22		1,800,000		1,813,379
2.500%, 05/01/27 to 10/01/27		3,904,225		4,048,194
2.500%, TBA		7,000,000		7,236,250
2.665%, 09/01/35 (03/25/13) ¹		923,212		982,877
2.840%, 06/01/35 (03/25/13) ¹		1,974,298		2,106,279
2.870%, 09/01/27		1,100,000		1,061,451
3.000%, TBA		39,000,000		40,589,845
3.330%, 11/01/21		98,080		107,106
3.480%, 05/01/36 (03/25/13) ¹		913,293		943,799
3.500%, 10/01/25 to 03/01/41		5,001,694		5,302,764
3.500%, TBA		30,000,000		31,620,311
3.877%, 05/01/36 (03/25/13) ¹		455,362		482,307
4.000%, 04/01/20 to 03/01/42		65,491,979		69,788,931
4.000%, TBA		117,000,000		124,498,908
4.500%, 05/01/18 to 05/01/42		60,734,760		65,411,832
4.500%, TBA		81,000,000		86,931,719
5.000%, 02/13/17 to 03/01/35		3,500,172		3,931,656
5.000%, TBA		72,000,000		77,737,983
5.004%, 05/01/35 (03/25/13) ¹		119,169		127,895
5.375%, 06/12/17		1,300,000		1,552,300
5.500%, 11/01/17 to 09/01/41		30,581,005		33,249,451
5.500%, TBA		20,000,000		21,703,130
6.000%, 05/01/16 to 01/01/39		9,354,470		10,224,170
6.000%, TBA		5,000,000		5,458,595
6.500%, 11/01/35		159,343		187,758
FNMA REMICS,
0.264%, 12/25/36 (02/25/13) ¹		305,718		303,113
0.514%, 04/25/37 (02/25/13) ¹		666,710		669,593
0.654%, 09/25/35 (02/25/13) ¹		1,343,375		1,354,906
2.711%, 05/25/35 (03/25/13) ¹		159,029		166,989
5.000%, 04/25/33		1,196,560		1,324,938
7.200%, 05/25/23		414,139		471,598
FNMA Whole Loan, 6.154%, 12/25/42 ⁴		234,592		272,146
Total Federal National Mortgage Association				613,335,362

Managers PIMCO Bond Fund

Schedule of Portfolio Investments (continued)


	Principal ^†		Value
Government National Mortgage Association - 0.2%
GNMA,
1.625%, 03/20/24 to 11/20/29 (03/20/13) ¹	$	267,465	$	277,134
1.750%, 08/20/25 (03/20/13) ¹		17,731		18,507
2.000%, 04/20/21 (03/20/13) ¹		5,146		5,356
6.500%, 06/20/28		515,035		570,271
6.750%, 10/16/40 ⁴		2,237,864		2,586,059
Total Government National Mortgage Association				3,457,327
U.S. Government Obligations - 39.1%
U.S. Treasury Bonds,
1.625%, 11/15/22		21,800,000		21,108,526
1.750%, 05/15/22		4,300,000		4,250,954
2.750%, 11/15/42 ^8,9		3,300,000		3,034,452
U.S. Treasury Inflation Indexed Bonds,
0.750%, 02/15/42		5,196,951		5,522,166
2.125%, 02/15/40 ^8,9		17,577,615		25,125,003
3.625%, 04/15/28		2,277,792		3,566,168
U.S. Treasury Inflation Indexed Notes,
0.125%, 04/15/17 to 07/15/22		6,729,792		7,269,573
0.625%, 07/15/21		6,742,692		7,647,163
1.125%, 01/15/21		11,578,490		13,561,306
U.S. Treasury Inflation Linked Notes, 2.375%, 01/15/25		5,374,776		7,190,445
U.S. Treasury Inflation Protected Securities,
1.750%, 01/15/28		659,454		841,422
2.000%, 01/15/26		8,816,836		11,435,022
2.375%, 01/15/27		13,358,826		18,168,003
2.500%, 01/15/29		3,646,364		5,129,410
3.875%, 04/15/29		1,960,896		3,200,090
U.S. Treasury Notes,
0.250%, 12/15/15		25,200,000		25,101,569
0.375%, 11/15/15 to 01/15/16		243,900,000		243,887,472
0.750%, 10/31/17 to 12/31/17 ^8,9		94,600,000		94,198,021
0.875%, 01/31/18 to 07/31/19		12,900,000		12,764,391
1.000%, 08/31/19 to 09/30/19 ^8,9		11,600,000		11,390,518
1.125%, 05/31/19		2,100,000		2,089,336
1.250%, 10/31/19		16,800,000		16,733,069
1.375%, 01/31/20		20,300,000		20,290,479
1.625%, 08/15/22		11,300,000		10,995,431
3.375%, 11/15/19		300,000		340,453
Total U.S. Government Obligations				574,840,442
Total U.S. Government and Agency Obligations (cost $1,283,342,773)				1,294,011,975

Managers PIMCO Bond Fund

Schedule of Portfolio Investments (continued)


		Principal ^†		Value
Short-Term Investments - 4.0%
Certificates of Deposit - 0.1%
Itau Unibanco SA, 1.684%, 10/31/13		$	1,100,000	$	1,086,318
Commercial Paper - 0.4%
Ford Motor Credit Co. LLC, 0.885%, 03/05/13			6,200,000		6,195,044
Japan Treasury Bills - 1.9%
Japan Treasury Discount Bills, 0.055%, 02/12/13 ⁶	JPY		1,970,000,000		21,542,616
Japan Treasury Discount Bills, 0.093%, 02/25/13 ⁶	JPY		560,000,000		6,123,508
Total Japan Treasury Bills					27,666,124
Mexico Treasury Bills - 0.2%
Mexico Treasury Bills, 4.279%, 02/07/13 ⁶	MXN		412,000,000		3,237,712
Repurchase Agreements - 1.4% ¹⁰
Barclays Capital Inc., dated 01/31/13, due 02/01/13, 0.150%, total to be received $3,500,015 (secured by U.S. Government Agencies, 3.500% - 4.000%, 05/01/42 -07/01/42, totaling $3,570,000)			3,500,000		3,500,000
Citigroup Global Markets, Inc., dated 01/31/13, due 02/01/13, 0.170%, total to be received $4,921,363 (secured by U.S. Government Agencies, 0.791% - 5.500%, 02/01/19 - 02/01/43, totaling $5,019,767)			4,921,340		4,921,340
Deutsche Bank Securities, Inc., dated 01/31/13, due 02/01/13, 0.170%, total to be received $3,500,017 (secured by U.S. Government Agencies, 2.500% - 7.500%, 05/01/13 - 01/01/43, totaling $3,570,000)			3,500,000		3,500,000
Goldman Sachs & Co., Inc., dated 01/31/13, due 02/01/13, 0.160%, total to be received $3,500,016 (secured by U.S. Government Agencies, 2.226% - 4.500%, 11/01/27 - 01/01/43, totaling $3,570,000)			3,500,000		3,500,000
JPMorgan Securities LLC, dated 01/31/13, due 02/01/13, 0.160%, total to be received $3,500,016 (secured by U.S. Government Agencies, 1.274% - 9.200%, 06/01/13 - 02/01/51, totaling $3,570,004)			3,500,000		3,500,000
Merrill Lynch, Pierce, Fenner & Smith, Inc., dated 01/31/13, due 02/01/13, 0.130%, total to be received $1,798,982 (secured by U.S. Government Agencies, 0.000% -3.875%, 08/01/13 - 02/15/42, totaling $1,834,955)			1,798,975		1,798,975
Total Repurchase Agreements					20,720,315

		Shares
Other Investment Companies - 0.0% ¹¹
Dreyfus Cash Management Fund, Institutional Class Shares, 0.050%			716,956		716,956
Total Short-Term Investments (cost $63,363,461)					59,622,469
Total Investments - 129.0% (cost $1,848,266,217)					1,898,045,211
Other Assets, less Liabilities - (29.0)%					(427,182,383	)
Net Assets - 100.0%				$	1,470,862,828

Notes to Schedule of Portfolio Investments (unaudited)

The following footnotes and abbreviations should be read in conjunction with the Schedule of Portfolio Investments previously presented in this report.

Based on the approximate cost of investments of $1,848,449,772 for Federal income tax purposes at January 31, 2013, the aggregate gross unrealized appreciation and depreciation were $61,259,531 and $11,664,092, respectively, resulting in net unrealized appreciation of investments of $49,595,439.

†	Principal amount stated in U.S. dollars unless otherwise stated.

(a)	Security exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions exempt from registration, normally to qualified buyers. At January 31, 2013, the value of these securities amounted to $75,807,098, or 5.2% of net assets.

1	Floating Rate Security: The rate listed is as of January 31, 2013. Date in parentheses represents the security’s next coupon rate reset.

Illiquid Security: A security not readily convertible into cash such as a stock, bond or commodity that is not actively traded and would be difficult to sell in a timely sale. The Fund may not invest more than 15% of its net assets in illiquid securities. All illiquid securities are valued by an independent pricing agent and are fair valued at Level 2. The market vlaue of illiquid securities at January 31, 2013, amounted to $27,098,169, or 1.8% of net assets.

3	Some or all of these securities, amounting to a market value of $20,000,256, or 1.4% of net assets, were out on loan to various brokers.

4	Variable Rate Security: The rate listed is as of January 31, 2013, and is periodically reset subject to terms and conditions set forth in the debenture.

5	Perpetuity Bond: The date shown is the final call date.

6	Represents yield to maturity at January 31, 2013.

7	Securities in the portfolio backed by insurance of financial institutions and financial guaranty assurance agencies amounted to $4,292,678, or 0.3% of net assets.

8	Some or all of this security is held with brokers as collateral for futures contracts, amounting to a market value of $869,447, or less than 0.06% of net assets.

9	Collateral segregated with brokers for swap contracts, amounting to a market value of $4,952,979, or 0.3% of net assets.

10	Collateral received from brokers for securities lending was invested in this short-term investment.

11	Yield shown represents the January 31, 2013, seven-day average yield, which refers to the sum of the previous seven days’ dividends paid, expressed as an annual percentage.

Investments Definitions and Abbreviations:


AGM:		Assured Guaranty Municipal Corp.
EMTN:		European Medium-Term Note
FHLMC:		Federal Home Loan Mortgage Corp.
FNMA:		Federal National Mortgage Corp.
GMTN:		Global Medium-Term Note
GNMA:		Government National Mortgage Association
MTN:		Medium-Term Note
NATL-RE:		National Public Finance Guarantee Corp.
TBA		To Be Announced

Currency Abbreviations have been used throughout the portfolio to indicate amounts shown in currencies other than the U.S. dollar (USD):


BRL:		Brazilian Real
CAD:		Canadian Dollar
EUR:		Euro
GBP:		British Pound
JPY:		Japanese Yen
MXN:		Mexican Peso

Fair Value Measurements

Generally Accepted Accounting Principles (U.S. GAAP) define fair value as the price that a Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP also establish a framework for measuring fair value, and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability. Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s own assumptions about the assumptions that market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. Each investment is assigned a level based upon the observability of the inputs which are significant to the overall valuation.

The three-tier hierarchy of inputs is summarized below:

Level 1 - inputs are quoted prices in active markets for identical investments (e.g., equity securities, open-end investment companies, futures contracts, options contracts)

Notes to Schedule of Portfolio Investments (continued)

Level 2 - other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market corroborated inputs) (e.g., debt securities, government securities, swap contracts, foreign currency exchange contracts, foreign securities utilizing international fair value pricing, broker-quoted securities, fair valued securities with observable inputs)

Level 3 - inputs are significant unobservable inputs (including the Fund’s own assumptions used to determine the fair value of investments) (e.g., fair valued securities with unobservable inputs) Changes in inputs or methodologies used for valuing investments may result in a transfer in or out of levels within the fair value hierarchy. The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments. The following tables summarize the inputs used to value the Fund’s net assets by the above fair value hierarchy levels as of January 31, 2013:


	Quoted Prices in Active Markets for Identical Investments Level 1		Significant Other Observable Inputs Level 2			Significant Unobservable Inputs Level 3		Total
Investments in Securities
Asset-Backed Securities		—	$	30,055,417			—	$	30,055,417
Bank Loan Obligations		—		1,206,450			—		1,206,450
Corporate Bonds and Notes ^†		—		229,968,482			—		229,968,482
Foreign Government and Agency
Obligations		—		149,109,743			—		149,109,743
Mortgage-Backed Securities		—		59,680,805			—		59,680,805
Municipal Bonds		—		63,408,104			—		63,408,104
Municipal Closed-End Bond Funds	$	6,822,479		—			—		6,822,479
Preferred Stocks		—		4,159,287			—		4,159,287
U.S. Government and Agency Obligations ^†		—		1,294,011,975			—		1,294,011,975
Short-Term Investments
Certificates of Deposit		—		1,086,318			—		1,086,318
Commercial Paper		—		6,195,044			—		6,195,044
Japan Treasury Bills		—		27,666,124			—		27,666,124
Mexico Treasury Bills		—		3,237,712			—		3,237,712
Repurchase Agreements		—		20,720,315			—		20,720,315
Other Investment Companies		716,956		—			—		716,956

Total Investments in Securities	$	7,539,435	$	1,890,505,776			—	$	1,898,045,211

Reverse Repurchase Agreements		—	$	(7,164,000	)		—	$	(7,164,000	)

Notes to Schedule of Portfolio Investments (continued)


	Quoted Prices in Active Markets for Identical Investments Level 1			Significant Other Observable Inputs Level 2			Significant Unobservable Inputs Level 3		Total
Financial Derivative Instruments-Assets ^††
Credit Contracts				$	2,614,500			—	$	2,614,500
Foreign Exchange Contracts					5,898,068			—		5,898,068
Interest Rate Contracts	$	72,089			1,045,716			—		1,117,805

		72,089			9,558,284			—		9,630,373

Financial Derivative Instruments-Liabilities ^††
Credit Contracts					(1,068,374	)		—		(1,068,374	)
Foreign Exchange Contracts					(6,400,803	)		—		(6,400,803	)
Interest Rate Contracts		(517,929	)		(805,454	)		—		(1,323,383	)

		(517,929	)		(8,274,631	)		—		(8,792,560	)

Total Financial Derivative Instruments	$	(445,840	)	$	1,283,653			—	$	837,813

†

All corporate bonds and notes and U.S. government and agency obligations held in the Fund are level 2 securities. For a detailed breakout of the corporate bonds and notes and U.S. government and agency obligations by major industry or agency classification, please refer to the Schedule of Portfolio Investments.

††	Derivative instruments, such as futures, options, forwards and swap contracts, are not reflected in the Schedule of Portfolio Investments. Futures, forwards and swap contracts are valued at the unrealized appreciation/depreciation of the instrument and options are shown at value.

As of January 31, 2013, the Fund had no transfers between levels from the beginning of the reporting period.

Reverse Repurchase Agreements

The Fund may enter into reverse repurchase agreements. In a reverse repurchase agreement, the Fund sells to a financial institution a security that it holds with a contemporaneous agreement to repurchase the same security at an agreed-upon price and date. In periods of increased demand for the security, the Fund may receive a fee for use of the security by the counterparty, which may result in interest income to the Fund. A reverse repurchase agreement involves the risk that the market value of the security sold by the Fund may decline below the repurchase price of the security. The Fund will segregate assets determined to be liquid by the investment adviser or otherwise cover its obligations under reverse repurchase agreements.

At January 31, 2013, the Fund had the following reverse repurchase agreements:


Counterparty	Interest Rate			Trade Date		Maturity Date		Net Closing Amount		Face Amount
JPMorgan Securities LLC		0.090	%		01/31/13		02/08/2013	$	7,165,433	$	7,164,000

Futures Contracts

The Fund may purchase or sell futures contracts to achieve a desired level of investment, whether to accommodate portfolio turnover or cash flows from capital shares transactions. There are certain risks associated with futures contracts. Prices may not move as expected or a Fund may not be able to close out the contract when it desires to do so, resulting in losses. Futures are valued at their quoted daily settlement prices. The aggregate principal amounts of the contracts are not recorded in the financial statements. All futures contracts are exchange traded.

Notes to Schedule of Portfolio Investments (continued)

At January 31, 2013, the Fund had the following futures contracts:


Type	Number of Contracts	Position		Expiration Date	Unrealized Gain/(Loss)
3-Month Euribor	31		Long	12/15/14 to 09/14/15	$	(30,613	)
5-Year U.S. Treasury Note	50		Long	03/28/13		(15,443	)
90-Day Eurodollar	1,605		Long	09/16/13 to 09/19/16		(392,779	)
Euro-Bund 10-Year	19		Short	03/07/13		72,089
U.S. Treasury 10-Year Note	76		Long	03/19/13		(79,094	)

Total					$	(445,840	)

Interest Rate Caps and Floors, Swap Contracts and Options

The Fund entered into over-the-counter transactions involving interest rate caps and floors, swap contracts, or purchased and written (sold) options to enter into such contracts, in order to manage its exposure to credit, currency, equity, interest rate and inflation risk.

In interest rate caps and floor agreements, one party agrees to make payments only when interest rates exceed a specified rate or “cap” or fall below a specified rate or “floor,” usually in return for payment of a fee by the other party. Interest rate caps and floors entitle the purchaser, to the extent that a specified index exceeds or falls below a predetermined interest rate, to receive payments of interest on a notional principal amount from the party selling such interest rate caps or floors.

Swap contracts represent an agreement between counterparties to exchange cash flows based on the difference between two rates applied to a notional principal amount for a specified period. The most common type of interest rate swap involves the exchange of fixed-rate cash flows for variable-rate cash flows. Swaps ordinarily do not involve the exchange of principal between the parties. Purchased options on swap contracts (“swaptions”) give the holder the right, but not the obligation, to enter into a swap contract with the counterparty which has written the option on a date, at an interest rate, and with a notional amount as specified in the swaption agreement. If the counterparty to the swap transaction defaults, the Fund will be limited to contractual remedies pursuant to the agreements governing the transaction. There is no assurance that swap or swaption contract counterparties will be able to meet their obligations under the contracts or that, in the event of default, the Fund will succeed in pursuing contractual remedies. The Fund may thus assume the risk that payments owed to the Fund under a swap or swaption contract will be delayed, or not received at all. During the term of the swap agreement or swaption, unrealized gains or losses are recorded as a result of “marking to market.” When the swap agreement or swaption is terminated, the Fund will record a realized gain or loss equal to the difference between the proceeds from (or cost of) the closing transaction and the Fund’s basis in the contract, if any. Accrued interest and interest paid are recognized as unrealized and realized gain (loss), respectively. In each of the contracts, the Fund pays a premium to the counterparty in return for the swaption. These swaptions may be exercised by entering into a swap contract with the counterparty only on the date specified in each contract. The Fund also sold credit protection through credit default swaps. Under the terms of the swaps, the seller of the credit protection receives a periodic payment amount (premium) from the buyer that is a fixed percentage amount applied to a notional principal amount. In return, the seller agrees to pay the buyer the notional amount and take delivery of a debt instrument of the reference issuer of the same notional par amount if the reference entity is subject to a credit event (such as bankruptcy, failure to pay, or obligation acceleration) during the term of the swap.

Notes to Schedule of Portfolio Investments (continued)

At January 31, 2013, the Fund had the following swap contracts:


Pay/Receive Floating Rate	Floating Rate Index	Fixed Rate			Counterparty	Maturity	Currency	Notional Amount		Net Premiums Paid/(Received)			Unrealized Gain/(Loss)
	Interest Rate Swaps
Pay	28-Day MXN TIIE		5.50	%	BRC	09/13/17	MXN	$	33,000,000	$	(19,528	)	$	81,385
Pay	28-Day MXN TIIE		5.50	%	MS	09/13/17	MXN		11,000,000		(5,972	)		26,590
Pay	28-Day MXN TIIE		5.50	%	MS	09/02/22	MXN		100,000		(147	)		91
Pay	28-Day MXN TIIE		5.60	%	BRC	09/06/16	MXN		61,600,000		21,109			107,138
Pay	28-Day MXN TIIE		6.35	%	MS	06/02/21	MXN		4,000,000		803			18,087
Receive	1-Year-OIS-USD-FEDERAL FUNDS RATE		1.00	%	GS	10/15/17	USD		65,000,000		(31,773	)		(288,437	)
Receive	1-Year-OIS-USD-FEDERAL FUNDS RATE		1.00	%	MS	10/15/17	USD		31,400,000		(36,015	)		(118,671	)
Receive	1-Year-OIS-USD-FEDERAL FUNDS RATE ^†		1.50	%	BOA	03/18/16	USD		24,100,000		(729	)		140,362
Receive	1-Year-OIS-USD-FEDERAL FUNDS RATE ^†		1.50	%	CS	03/18/16	USD		9,900,000		68,108			(10,748	)
Receive	1-Year-OIS-USD-FEDERAL FUNDS RATE ^†		1.50	%	GS	03/18/16	USD		59,900,000		487,357			(140,303	)
Receive	1-Year-OIS-USD-FEDERAL FUNDS RATE ^†		1.50	%	MS	03/18/16	USD		42,900,000		327,618			(79,060	)
Receive	3 Month USD LIBOR Rate ^†		2.75	%	DUB	06/19/43	USD		23,800,000		1,420,949			81,677
Receive	3 Month USD LIBOR Rate ^†		2.75	%	JPM	06/19/43	USD		14,400,000		991,425			(82,272	)

Total										$	3,223,205		$	(264,161	)


Reference Entity	Fixed Rate			Counterparty	Maturity		Currency		Notional Amount		Net Premiums Paid/(Received)		Unrealized Gain/(Loss)
Credit Default Swaps-Buy Protection
CDX.HY.17 5-Year Index ^†		5.00	%	BNP		12/20/16		USD	$	1,176,000	$	36,858	$	(93,916	)
CDX.HY.17 5-Year Index ^†		5.00	%	CITI		12/20/16		USD		1,862,000		30,257		(120,600	)
CDX.HY.17 5-Year Index ^†		5.00	%	CS		12/20/16		USD		2,434,000		65,068		(183,164	)
CDX.HY.18 5-Year Index ^†		5.00	%	BNP		06/20/17		USD		3,850,000		162,781		(313,908	)
CDX.HY.18 5-Year Index ^†		5.00	%	BOA		06/20/17		USD		1,000,000		31,250		(70,504	)
CDX.HY.18 5-Year Index ^†		5.00	%	CS		06/20/17		USD		2,600,000		93,125		(195,185	)
CDX.HY.18 5-Year Index ^†		5.00	%	DUB		06/20/17		USD		14,500		366		(935	)
CDX.HY.18 5-Year Index ^†		5.00	%	MS		06/20/17		USD		1,000,000		41,750		(81,004	)

Total											$	461,455	$	(1,059,216	)

Notes to Schedule of Portfolio Investments (continued)


Reference Entity	Fixed Rate			Counterparty	Maturity		Currency		Notional Amount		Net Premiums Paid/(Received)			Unrealized Gain/(Loss)
Credit Default Swaps-Sell Protection
Arcelormittal		1.00	%	CS		06/20/16		USD	$	500,000	$	(16,563	)	$	(9,158	)
Australia Government		1.00	%	MS		09/20/17		USD		1,600,000		18,614			25,791
Berkshire Hathaway Finance		1.00	%	BRC		06/20/17		USD		1,200,000		(26,934	)		30,195
Berkshire Hathaway Finance		1.00	%	CS		06/20/17		USD		900,000		(19,482	)		21,928
Brazil Federative Republic Bond		1.00	%	CITI		06/20/16		USD		7,300,000		(14,503	)		52,869
Brazil Federative Republic Bond		1.00	%	CS		06/20/15		USD		2,200,000		(25,971	)		43,205
Brazil Federative Republic Bond		1.00	%	DUB		06/20/16		USD		1,400,000		(3,131	)		10,488
Brazil Federative Republic Bond		1.00	%	JPM		09/20/15		USD		1,400,000		(8,194	)		18,559
Brazil Federative Republic Bond		1.00	%	JPM		09/20/16		USD		500,000		(2,153	)		4,134
Brazil Federative Republic Bond		1.00	%	UBS		09/20/15		USD		1,000,000		(4,961	)		12,365
Brazil Federative Republic Bond		1.52	%	MS		01/20/17		USD		3,000,000		—			65,325
Brazil Federative Republic Bond		1.95	%	MS		08/20/16		USD		3,500,000		—			158,885
CDX.EM.12 Index		5.00	%	DUB		12/20/14		USD		1,000,000		37,313			17,456
CDX.EM.13 Index		5.00	%	BRC		06/20/15		USD		1,800,000		67,632			55,587
CDX.EM.13 Index		5.00	%	CS		06/20/15		USD		1,000,000		54,435			14,159
CDX.EM.13 Index		5.00	%	DUB		06/20/15		USD		5,600,000		328,817			55,308
CDX.EM.13 Index		5.00	%	JPM		06/20/15		USD		4,600,000		259,438			56,094
CDX.HY.18 10-Year Index		1.00	%	CITI		06/20/22		USD		1,800,000		(130,609	)		49,368
CDX.HY.18 5-Year Index		1.00	%	MS		06/20/17		USD		1,800,000		(51,809	)		36,030
China Government		1.00	%	CITI		06/20/16		USD		1,600,000		11,554			21,625
China Government		1.00	%	DUB		06/20/16		USD		500,000		3,214			7,154
China Government		1.00	%	DUB		09/20/16		USD		300,000		1,149			5,053
China Government		1.00	%	JPM		09/20/16		USD		400,000		1,477			6,792
China Government		1.00	%	JRC		06/20/16		USD		800,000		5,790			10,799
China Government		1.00	%	MS		06/20/16		USD		10,300,000		(226,608	)		440,195
China Government		1.00	%	RBS		06/20/15		USD		1,900,000		14,789			19,402
China Government		1.00	%	RBS		06/20/16		USD		700,000		4,952			9,564
Export-Import Bank of A.S.		1.00	%	DUB		06/20/17		USD		300,000		(11,060	)		14,038
General Electric Capital Corp.		1.00	%	DUB		03/20/16		USD		300,000		(9,646	)		13,492
General Electric Capital Corp.		1.00	%	MS		06/20/16		USD		700,000		(1,759	)		9,735
Japan Government		1.00	%	JPM		03/20/16		USD		1,000,000		5,310			12,388

Notes to Schedule of Portfolio Investments (continued)


Reference Entity	Fixed Rate			Counterparty	Maturity		Currency		Notional Amount		Net Premiums Paid/(Received)			Unrealized Gain/(Loss)
Japan Government		1.00	%	MS		03/20/17		USD	$	2,900,000	$	(15,912	)	$	65,000
MetLife, Inc.		1.00	%	JPM		03/20/16		USD		6,400,000		(93,118	)		118,085
Mexico Government		1.00	%	BRC		03/20/15		USD		700,000		(6,544	)		15,112
Mexico Government		1.00	%	CITI		06/20/16		USD		9,800,000		(1,727	)		116,561
Mexico Government		1.00	%	DUB		03/20/15		USD		1,100,000		(10,494	)		23,957
Mexico Government		1.00	%	DUB		03/20/16		USD		2,300,000		(10,414	)		39,174
Mexico Government		1.00	%	GS		06/20/16		USD		8,400,000		(202,927	)		301,356
Mexico Government		1.00	%	JPM		09/20/17		USD		4,100,000		(50,617	)		72,056
Mexico Government		1.00	%	MS		09/20/16		USD		600,000		(1,965	)		8,526
Mexico Government		1.00	%	UBS		09/20/15		USD		1,000,000		(7,417	)		19,805
NRG Energy		5.00	%	GS		12/20/19		USD		1,500,000		19,467			87,546
Republic of Indonesia		1.00	%	MS		09/20/16		USD		2,700,000		(150,510	)		153,734
Republic of Indonesia		1.00	%	MS		06/20/21		USD		1,000,000		(134,420	)		65,785
Republic of Indonesia		1.00	%	UBS		09/20/16		USD		300,000		(3,349	)		3,707
U.S. Treasury Notes		0.25	%	UBS		09/20/15		EUR		5,000,000		(36,970	)		32,130
United Kingdom Gilt		1.00	%	CITI		12/20/16		USD		6,500,000		19,170			138,369
United Kingdom Gilt		1.00	%	DUB		03/20/16		USD		400,000		4,723			3,983
United Kingdom Gilt		1.00	%	GS		12/20/16		USD		1,000,000		2,210			22,027
United Kingdom Gilt		1.00	%	MS		06/20/16		USD		1,800,000		20,971			19,736
United Kingdom Gilt		1.00	%	UBS		06/20/16		USD		900,000		10,485			9,868

Total											$	(388,257	)	$	2,605,342

†	This contract is centrally cleared swap.

††

If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (a) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation, or (b) pay a net settlement in the form of cash or securities equal to the notional amount of the swap less the recovery of the referenced obligation.

At January 31, 2013, the Fund had the following written put and call options, swaptions and inflation floors:


Pay/Receive Floating Rate	Description	Counterparty	Floating Rate Index		Exercise Rate			Expiration Date		Notional Amount		Premium		Unrealized Gain/(Loss)
	Interest Rate Swaptions
Receive	2-Year Interest Rate Swap (Put)	DUB		3-Month USD-LIBOR		1.20	%		07/11/13	$	13,400,000	$	94,574	$	92,510
Receive	5-Year Interest Rate Swap (Call)	GS		3-Month USD-LIBOR		0.85	%		03/18/13		8,300,000		5,404		2,393
Receive	5-Year Interest Rate Swap (Call)	JPM		3-Month USD-LIBOR		0.75	%		04/02/13		6,800,000		2,720		2,004
Receive	5-Year Interest Rate Swap (Call)	MS		3-Month USD-LIBOR		0.75	%		04/02/13		7,700,000		2,710		1,899

Notes to Schedule of Portfolio Investments (continued)


Pay/Receive Floating Rate	Description	Counterparty	Floating Rate Index	Exercise Rate			Expiration Date		Notional Amount		Premium		Unrealized Gain/(Loss)
Receive	5-Year Interest Rate Swap (Put)	CS	3-Month USD-LIBOR		1.40	%		03/18/13	$	800,000	$	15,440	$	14,885
Receive	5-Year Interest Rate Swap (Put)	DUB	3-Month USD-LIBOR		1.05	%		03/18/13		6,800,000		16,898		(13,573	)
Receive	5-Year Interest Rate Swap (Put)	DUB	3-Month USD-LIBOR		1.20	%		03/18/13		10,500,000		38,588		17,538
Receive	5-Year Interest Rate Swap (Put)	DUB	3-Month USD-LIBOR		1.30	%		04/29/13		7,600,000		20,350		(1,241	)
Receive	5-Year Interest Rate Swap (Put)	DUB	3-Month USD-LIBOR		2.00	%		03/18/13		6,800,000		63,854		63,733
Receive	5-Year Interest Rate Swap (Put)	GS	3-Month USD-LIBOR		1.25	%		03/18/13		8,300,000		11,844		(849	)
Receive	5-Year Interest Rate Swap (Put)	JPM	3-Month USD-LIBOR		1.15	%		04/02/13		6,800,000		12,750		(10,782	)
Receive	5-Year Interest Rate Swap (Put)	JPM	3-Month USD-LIBOR		1.30	%		04/29/13		2,900,000		9,715		1,476
Receive	5-Year Interest Rate Swap (Put)	MS	3-Month USD-LIBOR		0.85	%		03/18/13		5,000,000		2,250		436
Receive	5-Year Interest Rate Swap (Put)	MS	3-Month USD-LIBOR		1.15	%		04/02/13		7,700,000		12,940		(13,707	)
Receive	5-Year Interest Rate Swap (Put)	MS	3-Month USD-LIBOR		1.20	%		02/19/13		9,700,000		26,675		21,322
Receive	5-Year Interest Rate Swap (Put)	MS	3-Month USD-LIBOR		1.20	%		03/18/13		18,900,000		102,841		64,952
Receive	5-Year Interest Rate Swap (Put)	MS	3-Month USD-LIBOR		1.25	%		03/18/13		5,000,000		6,000		(1,646	)
Receive	5-Year Interest Rate Swap (Put)	MS	3-Month USD-LIBOR		1.40	%		03/18/13		4,000,000		77,600		74,825
Receive	5-Year Interest Rate Swap (Put)	RBS	3-Month USD-LIBOR		1.20	%		03/18/13		7,100,000		36,032		21,799
Receive	5-Year Interest Rate Swap (Put)	RBS	3-Month USD-LIBOR		1.75	%		05/30/13		18,200,000		134,185		112,828
Receive	7-Year Interest Rate Swap (Call)	DUB	3-Month USD-LIBOR		1.20	%		03/18/13		5,000,000		7,000		6,168
Receive	7-Year Interest Rate Swap (Call)	MS	3-Month USD-LIBOR		1.20	%		03/18/13		10,300,000		10,820		9,106
Receive	7-Year Interest Rate Swap (Call)	RBS	3-Month USD-LIBOR		1.20	%		03/18/13		11,600,000		10,340		8,410
Receive	7-Year Interest Rate Swap (Put)	DUB	3-Month USD-LIBOR		1.65	%		03/18/13		5,000,000		11,750		(9,014	)
Receive	7-Year Interest Rate Swap (Put)	MS	3-Month USD-LIBOR		1.65	%		03/18/13		10,300,000		30,880		(11,894	)
Receive	7-Year Interest Rate Swap (Put)	RBS	3-Month USD-LIBOR		1.65	%		03/18/13		11,600,000		32,680		(15,492	)
Receive	10-Year Interest Rate Swap (Call)	BRC	3-Month USD-LIBOR		1.80	%		07/29/13		4,800,000		22,080		529
Receive	10-Year Interest Rate Swap (Call)	MS	3-Month USD-LIBOR		1.80	%		07/29/13		8,500,000		42,065		3,902
Receive	10-Year Interest Rate Swap (Put)	BRC	3-Month USD-LIBOR		2.65	%		07/29/13		4,800,000		34,400		(2,114	)
Receive	10-Year Interest Rate Swap (Put)	MS	3-Month USD-LIBOR		2.65	%		07/29/13		8,500,000		60,450		(4,209	)
Receive	2-Year Interest Rate Swap (Put)	CS	Euribor 6 Month		1.15	%		07/24/13		9,700,000		20,086		(590	)
Receive	2-Year Interest Rate Swap (Put)	HSBC	Euribor 6 Month		1.15	%		07/24/13		1,700,000		2,981		(642	)
Receive	5-Year Interest Rate Swap (Put)	BRC	Euribor 6 Month		1.70	%		07/24/13		2,500,000		12,669		(70	)
Receive	5-Year Interest Rate Swap (Put)	DUB	Euribor 6 Month		1.70	%		07/24/13		1,000,000		4,956		(140	)

Total											$	996,527	$	434,752

Notes to Schedule of Portfolio Investments (continued)


Description	Counterparty	Strike Index		Expiration Date		Notional Amount			Premium		Unrealized Gain/(Loss)
Inflation Floor Options
Inflation Floor - OTC CPURNSA Index	DUB	$	216		03/10/20	$	(11,400,000	)	$	85,500	$	69,671

Transactions in written put and call options and swaptions for the fiscal period ended January 31, 2013, were as follows:


	Number of Contracts		Notional Amount			Amount of Premiums
Options and swaptions outstanding at October 31, 2012		—	$	198,100,000		$	951,373
Options and swaptions written		—		168,200,000			406,739
Options and swaptions exercised/expired/closed		—		(97,300,000	)		(276,085	)

Options and swaptions outstanding at January 31, 2013		—	$	269,000,000		$	1,082,027

Forward Foreign Currency Contracts

A forward currency contract is an obligation to purchase or sell a currency against another currency at a future date and price as agreed upon by the parties. These contracts are traded over-the-counter and not on organized commodities or securities exchanges.

At January 31, 2013, the Fund had the following forward foreign currency contracts (in U.S. Dollars):


Foreign Currency	Position	Settlement Date	Counterparty	Receivable Amount		Payable Amount		Unrealized Gain/(Loss)
Brazilian Real	Long	02/04/13	BRC	$	103,069	$	100,000	$	3,069
Brazilian Real	Long	02/04/13	HSBC		6,044,489		5,838,982		205,507
Brazilian Real	Long	02/04/13	MS		206,139		200,000		6,139
Brazilian Real	Long	02/04/13 to 04/02/13	UBS		7,956,294		7,716,818		239,476
Euro	Long	03/18/13	CITI		2,291,184		2,245,743		45,441
Euro	Long	03/18/13	CS		14,259,121		14,123,806		135,315
Euro	Long	03/18/13	DUB		7,089,495		6,836,135		253,360
Euro	Long	03/18/13	MS		415,591		409,164		6,427
Euro	Long	03/18/13	RBS		2,492,188		2,420,732		71,456
Euro	Long	03/18/13	UBS		358,549		358,410		139
Mexican Peso	Long	04/03/13	DUB		7,121,334		6,879,660		241,674
Mexican Peso	Long	04/03/13	HSBC		4,478,059		4,426,293		51,766
Mexican Peso	Long	04/03/13	HSBC		20,119		20,211		(92	)
Mexican Peso	Long	04/03/13	JPM		446,068		441,868		4,200
Mexican Peso	Long	04/03/13	UBS		671,126		652,509		18,617
Brazilian Real	Short	02/04/13	UBS		6,968,041		7,179,114		(211,073	)
British Pound	Short	03/12/13	JPM		6,808,176		6,740,629		67,547
British Pound	Short	03/12/13	JPM		332,833		332,988		(155	)

Notes to Schedule of Portfolio Investments (continued)


Foreign Currency	Position	Settlement Date	Counterparty	Receivable Amount		Payable Amount		Unrealized Gain/ (Loss)
British Pound	Short	03/12/13	UBS	$	126,902	$	125,267	$	1,635
Canadian Dollar	Short	03/21/13	BRC		778,143		770,206		7,937
Canadian Dollar	Short	03/21/13	CITI		36,098,924		35,722,934		375,990
Euro	Short	03/18/13	BRC		3,027,629		3,141,380		(113,751	)
Euro	Short	03/18/13 to 04/01/14	CITI		4,841,300		5,038,976		(197,676	)
Euro	Short	03/18/13 to 06/02/14	CS		7,628,861		7,885,912		(257,051	)
Euro	Short	08/01/13	DUB		19,899,784		21,470,707		(1,570,923	)
Euro	Short	03/18/13	HSBC		283,116		287,926		(4,810	)
Euro	Short	03/18/13	JPM		63,370		65,191		(1,821	)
Euro	Short	03/18/13	MS		159,389		164,335		(4,946	)
Euro	Short	03/18/13	RBC		12,188,115		12,543,789		(355,674	)
Euro	Short	03/18/13	RBS		44,773,182		46,842,278		(2,069,096	)
Euro	Short	02/28/13 to 09/20/13	UBS		39,127,956		40,636,521		(1,508,565	)
Japanese Yen	Short	04/17/13	BRC		6,061,784		5,903,592		158,192
Japanese Yen	Short	02/12/13	CITI		11,525,977		10,061,421		1,464,556
Japanese Yen	Short	02/25/13	JPM		6,996,502		6,124,823		871,679
Japanese Yen	Short	02/12/13	UBS		13,151,336		11,483,143		1,668,193
Mexican Peso	Short	02/07/13	CS		3,104,586		3,197,272		(92,686	)
Mexican Peso	Short	04/03/13	JPM		590,097		602,828		(12,731	)

Total				$	278,488,828	$	278,991,563	$	(502,735	)

Counterparty Abbreviations:


BNP:		BNP Paribas Bank
BOA:		Bank of America
BRC:		Barclays Bank PLC
CITI:		Citigroup, Inc.
CS:		Credit Suisse
DUB:		Deutsche Bank AG
GS:		Goldman Sachs & Co.
HSBC:		HSBC Bank
JPM:		JPMorgan Chase & Co.
JRC:		Johnson Rice & Co.
MS:		Morgan Stanley
RBC:		Royal Bank of Canada
RBS:		Royal Bank of Scotland Group PLC
UBS:		UBS Warburg LLC

Currency Abbreviations:

MXN:		Mexican Peso
EUR:		Euro
USD:		U.S. Dollar

Investment Abbreviations and Definitions:

CDX.EM:		Credit Derivatives Index Emerging Markets

Notes to Schedule of Portfolio Investments (continued)


CDX.HY:		Credit Derivatives Index High Yield
CPURNSA:		Consumer Price All Urban Non-Seasonally Adjusted Index
LIBOR:		London Interbank Offered Rate
N/A:		No composite rating is available for this index.
OIS:		Overnight Index Swap
OTC:		Over-the-counter
TIIE:		Interbank Equilibrium Interest rate

Item 2. Controls and Procedures.

(a)

The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3 (c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15 (b)).

(b)

There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

Item 3. Exhibits.

Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(a) under the Investment Company Act of 1940 are attached as Exhibit 99.CERT

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.


MANAGERS TRUST I

By:		/s/ Keitha L. Kinne
		Keitha L. Kinne, President

Date:		March 26, 2013

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/ Keitha L. Kinne
		Keitha L. Kinne, President

Date:		March 26, 2013

By:		/s/ Donald S. Rumery
		Donald S. Rumery, Chief Financial Officer

Date:		March 26, 2013