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: 811-7852
Exact Name of Registrant as Specified in Charter: USAA MUTUAL FUNDS TRUST
Address of Principal Executive Offices and Zip Code: 9800 FREDERICKSBURG ROAD
SAN ANTONIO, TX 78288
Name and Address of Agent for Service: CHRISTOPHER P. LAIA
USAA MUTUAL FUNDS TRUST
9800 FREDERICKSBURG ROAD
SAN ANTONIO, TX 78288
Registrant's Telephone Number, Including Area Code: (210) 498-0226
Date of Fiscal Year End: DECEMBER 31
|
Date of Reporting Period: SEPTEMBER 30, 2009
ITEM 1. SCHEDULE OF INVESTMENTS.
USAA MUTUAL FUNDS TRUST - 3RD QUARTER REPORT - PERIOD ENDED SEPTEMBER 30, 2009
USAA S&P 500 INDEX FUND, REWARD SHARES
USAA S&P 500 INDEX FUND, MEMBER SHARES
[LOGO OF USAA]
USAA(R)
PORTFOLIO OF INVESTMENTS
3RD QUARTER
USAA S&P 500 INDEX FUND
September 30, 2009
(Form N-Q)
48414-1109 (c)2009, USAA. All rights reserved.
PORTFOLIO OF INVESTMENTS 1
USAA S&P 500 INDEX FUND
September 30, 2009 (unaudited)
|
NUMBER
OF SHARES SECURITY MARKET VALUE (000)
----------- -------- ------------------
COMMON STOCKS (99.0%)
CONSUMER DISCRETIONARY (9.0%)
-----------------------------
ADVERTISING (0.2%)
125,600 Interpublic Group of Companies, Inc. * $ 945
85,600 Omnicom Group, Inc. 3,162
------------------
4,107
------------------
APPAREL & ACCESSORIES & LUXURY GOODS (0.2%)
89,900 Coach, Inc. 2,959
16,700 Polo Ralph Lauren Corp. 1,280
25,358 VF Corp. 1,837
------------------
6,076
------------------
APPAREL RETAIL (0.4%)
25,900 Abercrombie & Fitch Co. "A" 852
132,578 Gap, Inc. 2,837
76,800 Limited Brands, Inc. 1,305
116,858 TJX Companies, Inc. 4,341
------------------
9,335
------------------
AUTO PARTS & EQUIPMENT (0.2%)
164,600 Johnson Controls, Inc. 4,207
------------------
AUTOMOBILE MANUFACTURERS (0.2%)
885,941 Ford Motor Co. * 6,388
------------------
AUTOMOTIVE RETAIL (0.1%)
24,711 AutoNation, Inc. * 447
8,977 AutoZone, Inc. * 1,312
37,100 O'Reilly Automotive, Inc. * 1,341
------------------
3,100
------------------
BROADCASTING (0.1%)
192,274 CBS Corp. "B" 2,317
------------------
CABLE & SATELLITE (0.8%)
793,699 Comcast Corp. "A" 13,406
125,581 DIRECTV Group, Inc. * 3,463
22,600 Scripps Networks Interactive "A" 835
96,871 Time Warner Cable, Inc. 4,174
------------------
21,878
------------------
CASINOS & GAMING (0.1%)
82,696 International Game Technology 1,777
19,979 Wynn Resorts Ltd. (g)* (1,416)
------------------
3,193
------------------
COMPUTER & ELECTRONICS RETAIL (0.2%)
93,250 Best Buy Co., Inc. 3,499
44,000 GameStop Corp. "A" * 1,165
37,500 RadioShack Corp. 621
------------------
5,285
------------------
CONSUMER ELECTRONICS (0.0%)
20,965 Harman International Industries, Inc. 710
------------------
DEPARTMENT STORES (0.4%)
62,900 J.C. Penney Co., Inc. 2,123
85,935 Kohl's Corp. * 4,903
119,502 Macy's, Inc. 2,186
45,300 Nordstrom, Inc. 1,383
13,018 Sears Holdings Corp. (g)* (850)
------------------
11,445
------------------
DISTRIBUTORS (0.1%)
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PORTFOLIO OF INVESTMENTS (continued) 2
USAA S&P 500 INDEX FUND
September 30, 2009 (unaudited)
NUMBER
OF SHARES SECURITY MARKET VALUE (000)
----------- -------- ------------------
43,400 Genuine Parts Co. 1,652
------------------
EDUCATION SERVICES (0.1%)
35,781 Apollo Group, Inc. "A" * 2,636
16,900 DeVry, Inc. 935
------------------
3,571
------------------
FOOTWEAR (0.3%)
108,700 NIKE, Inc. "B" 7,033
------------------
GENERAL MERCHANDISE STORES (0.4%)
23,800 Big Lots, Inc. * 596
38,000 Family Dollar Stores, Inc. 1,003
210,095 Target Corp. 9,807
------------------
11,406
------------------
HOME FURNISHINGS (0.0%)
44,300 Leggett & Platt, Inc. 859
------------------
HOME IMPROVEMENT RETAIL (0.9%)
473,737 Home Depot, Inc. 12,620
412,400 Lowe's Companies, Inc. 8,636
26,500 Sherwin-Williams Co. 1,594
------------------
22,850
------------------
HOMEBUILDING (0.1%)
75,700 D.R. Horton, Inc. 864
21,900 KB Home 364
39,900 Lennar Corp. "A" 568
84,637 Pulte Homes, Inc. 930
------------------
2,726
------------------
HOMEFURNISHING RETAIL (0.1%)
73,500 Bed Bath & Beyond, Inc. * 2,759
------------------
HOTELS, RESORTS & CRUISE LINES (0.3%)
122,900 Carnival Corp. 4,090
70,695 Marriott International, Inc. "A" 1,951
50,800 Starwood Hotels & Resorts Worldwide, Inc. 1,678
47,262 Wyndham Worldwide Corp. 771
------------------
8,490
------------------
HOUSEHOLD APPLIANCES (0.1%)
16,300 Black & Decker Corp. 754
20,193 Whirlpool Corp. 1,413
------------------
2,167
------------------
HOUSEWARES & SPECIALTIES (0.1%)
43,430 Fortune Brands, Inc. 1,866
73,100 Newell Rubbermaid, Inc. 1,147
------------------
3,013
------------------
INTERNET RETAIL (0.4%)
92,343 Amazon.com, Inc. * 8,621
56,053 Expedia, Inc. * 1,343
------------------
9,964
------------------
LEISURE PRODUCTS (0.1%)
33,800 Hasbro, Inc. 938
99,300 Mattel, Inc. 1,833
------------------
2,771
------------------
MOTORCYCLE MANUFACTURERS (0.1%)
64,900 Harley-Davidson, Inc. 1,493
------------------
MOVIES & ENTERTAINMENT (1.4%)
625,373 News Corp. "A" 7,498
328,800 Time Warner, Inc. 9,463
171,000 Viacom, Inc. "B" * 4,795
516,608 Walt Disney Co. 14,186
------------------
35,942
------------------
PHOTOGRAPHIC PRODUCTS (0.0%)
75,400 Eastman Kodak Co. (g) (360)
------------------
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PORTFOLIO OF INVESTMENTS (continued) 3
USAA S&P 500 INDEX FUND
September 30, 2009 (unaudited)
NUMBER
OF SHARES SECURITY MARKET VALUE (000)
----------- -------- ------------------
PUBLISHING (0.2%)
61,200 Gannett Co., Inc. 766
88,000 McGraw-Hill Companies, Inc. 2,212
10,000 Meredith Corp. 299
35,200 New York Times Co. "A" 286
1,811 Washington Post Co. "B" 848
------------------
4,411
------------------
RESTAURANTS (1.0%)
40,375 Darden Restaurants, Inc. 1,378
302,119 McDonald's Corp. 17,242
207,400 Starbucks Corp. * 4,283
128,100 Yum! Brands, Inc. 4,324
------------------
27,227
------------------
SPECIALIZED CONSUMER SERVICES (0.1%)
90,300 H&R Block, Inc. 1,660
------------------
SPECIALTY STORES (0.3%)
71,700 Office Depot, Inc. * 475
202,733 Staples, Inc. 4,707
33,600 Tiffany & Co. 1,295
------------------
6,477
------------------
TIRES & RUBBER (0.0%)
64,800 Goodyear Tire & Rubber Co. * 1,103
------------------
Total Consumer Discretionary 235,975
------------------
CONSUMER STAPLES (11.4%)
------------------------
AGRICULTURAL PRODUCTS (0.2%)
179,979 Archer-Daniels-Midland Co. 5,259
------------------
BREWERS (0.1%)
42,300 Molson Coors Brewing Co. "B" 2,059
------------------
DISTILLERS & VINTNERS (0.1%)
31,206 Brown-Forman Corp. "B" 1,505
56,500 Constellation Brands, Inc. "A" * 856
------------------
2,361
------------------
DRUG RETAIL (0.9%)
401,085 CVS Caremark Corp. 14,335
276,834 Walgreen Co. 10,373
------------------
24,708
------------------
FOOD DISTRIBUTORS (0.2%)
165,800 Sysco Corp. 4,120
------------------
FOOD RETAIL (0.3%)
179,900 Kroger Co. 3,713
113,428 Safeway, Inc. 2,237
55,425 SUPERVALU, Inc. 835
38,700 Whole Foods Market, Inc. * 1,180
------------------
7,965
------------------
HOUSEHOLD PRODUCTS (2.5%)
39,900 Clorox Co. 2,347
137,714 Colgate-Palmolive Co. 10,505
116,409 Kimberly-Clark Corp. 6,866
810,681 Procter & Gamble Co. 46,954
------------------
66,672
------------------
HYPERMARKETS & SUPER CENTERS (1.4%)
120,100 Costco Wholesale Corp. 6,781
600,902 Wal-Mart Stores, Inc. (f) (29,498)
------------------
36,279
------------------
PACKAGED FOODS & MEAT (1.4%)
51,707 Campbell Soup Co. 1,687
120,646 ConAgra Foods, Inc. 2,616
48,600 Dean Foods Co. * 865
90,310 General Mills, Inc. 5,814
88,600 H.J. Heinz Co. 3,522
44,800 Hershey Co. 1,741
19,200 Hormel Foods Corp. 682
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PORTFOLIO OF INVESTMENTS (continued) 4
USAA S&P 500 INDEX FUND
September 30, 2009 (unaudited)
NUMBER
OF SHARES SECURITY MARKET VALUE (000)
----------- -------- ------------------
33,926 J.M. Smucker Co. 1,798
71,285 Kellogg Co. 3,509
406,949 Kraft Foods, Inc. "A" 10,691
37,717 McCormick & Co., Inc. 1,280
196,900 Sara Lee Corp. 2,193
79,200 Tyson Foods, Inc. "A" 1,000
------------------
37,398
------------------
PERSONAL PRODUCTS (0.2%)
119,600 Avon Products, Inc. 4,062
31,300 Estee Lauder Companies, Inc. "A" 1,160
------------------
5,222
------------------
SOFT DRINKS (2.5%)
643,311 Coca-Cola Co. 34,546
91,225 Coca-Cola Enterprises, Inc. 1,953
68,900 Dr Pepper Snapple Group, Inc. * 1,981
40,319 Pepsi Bottling Group, Inc. 1,469
432,900 PepsiCo, Inc. 25,394
------------------
65,343
------------------
TOBACCO (1.6%)
575,800 Altria Group, Inc. 10,255
46,225 Lorillard, Inc. 3,434
538,118 Philip Morris International, Inc. 26,228
45,600 Reynolds American, Inc. 2,030
------------------
41,947
------------------
------------------
Total Consumer Staples 299,333
------------------
ENERGY (11.6%)
--------------
COAL & CONSUMABLE FUELS (0.2%)
50,300 CONSOL Energy, Inc. 2,269
25,300 Massey Energy Co. 706
74,700 Peabody Energy Corp. 2,780
------------------
5,755
------------------
INTEGRATED OIL & GAS (6.9%)
556,269 Chevron Corp. 39,178
412,014 ConocoPhillips 18,607
1,333,756 Exxon Mobil Corp. (f) (91,509)
80,423 Hess Corp. 4,299
197,740 Marathon Oil Corp. 6,308
53,728 Murphy Oil Corp. 3,093
225,295 Occidental Petroleum Corp. 17,663
------------------
180,657
------------------
OIL & GAS DRILLING (0.2%)
19,100 Diamond Offshore Drilling, Inc. 1,824
38,600 ENSCO International, Inc. 1,642
81,700 Nabors Industries Ltd. * 1,708
33,700 Rowan Companies, Inc. 777
------------------
5,951
------------------
OIL & GAS EQUIPMENT & SERVICES (1.7%)
85,000 Baker Hughes, Inc. 3,626
85,000 BJ Services Co. 1,652
59,700 Cameron International Corp. * 2,258
34,500 FMC Technologies, Inc. * 1,802
252,021 Halliburton Co. 6,835
115,300 National Oilwell Varco, Inc. * 4,973
332,503 Schlumberger Ltd. 19,817
60,400 Smith International, Inc. 1,733
------------------
42,696
------------------
OIL & GAS EXPLORATION & PRODUCTION (2.1%)
135,600 Anadarko Petroleum Corp. 8,506
92,800 Apache Corp. 8,522
30,724 Cabot Oil & Gas Corp. 1,098
177,576 Chesapeake Energy Corp. 5,043
68,300 Denbury Resources, Inc. * 1,033
123,500 Devon Energy Corp. 8,315
70,200 EOG Resources, Inc. 5,863
46,961 Noble Energy, Inc. 3,098
34,200 Pioneer Natural Resources Co. 1,241
43,244 Range Resources Corp. 2,135
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PORTFOLIO OF INVESTMENTS (continued) 5
USAA S&P 500 INDEX FUND
September 30, 2009 (unaudited)
NUMBER
OF SHARES SECURITY MARKET VALUE (000)
----------- -------- ------------------
96,700 Southwestern Energy Co. * 4,127
162,407 XTO Energy, Inc. 6,711
------------------
55,692
------------------
OIL & GAS REFINING & MARKETING (0.2%)
34,400 Sunoco, Inc. 979
41,000 Tesoro Corp. 614
156,873 Valero Energy Corp. 3,042
------------------
4,635
------------------
OIL & GAS STORAGE & TRANSPORTATION (0.3%)
186,900 El Paso Corp. 1,929
182,250 Spectra Energy Corp. 3,452
163,714 Williams Companies, Inc. 2,925
------------------
8,306
------------------
------------------
Total Energy 303,692
------------------
FINANCIALS (15.1%)
------------------
ASSET MANAGEMENT & CUSTODY BANKS (1.4%)
70,060 Ameriprise Financial, Inc. 2,545
332,549 Bank of New York Mellon Corp., Inc. 9,641
22,400 Federated Investors, Inc. "B" 591
40,802 Franklin Resources, Inc. 4,105
117,478 Invesco Ltd. 2,674
50,388 Janus Capital Group, Inc. 714
46,221 Legg Mason, Inc. 1,434
65,600 Northern Trust Corp. (c) (3,815)
138,642 State Street Corp. 7,293
72,700 T. Rowe Price Group, Inc. 3,322
------------------
36,134
------------------
CONSUMER FINANCE (0.7%)
331,185 American Express Co. 11,227
127,058 Capital One Financial Corp. 4,540
149,955 Discover Financial Services 2,434
133,300 SLM Corp. * 1,162
------------------
19,363
------------------
DIVERSIFIED BANKS (1.9%)
43,300 Comerica, Inc. 1,285
532,534 U.S. Bancorp 11,641
1,298,140 Wells Fargo & Co. 36,581
------------------
49,507
------------------
INSURANCE BROKERS (0.3%)
76,100 Aon Corp. 3,097
143,200 Marsh & McLennan Companies, Inc. 3,541
------------------
6,638
------------------
INVESTMENT BANKING & BROKERAGE (1.7%)
263,547 Charles Schwab Corp. 5,047
225,363 E*TRADE Financial Corp. * 394
141,639 Goldman Sachs Group, Inc. 26,111
377,775 Morgan Stanley 11,666
------------------
43,218
------------------
LIFE & HEALTH INSURANCE (1.1%)
131,100 AFLAC, Inc. 5,603
83,811 Lincoln National Corp. 2,172
226,700 MetLife, Inc. 8,630
90,165 Principal Financial Group, Inc. 2,470
127,800 Prudential Financial, Inc. 6,378
23,600 Torchmark Corp. 1,025
90,400 Unum Group 1,938
------------------
28,216
------------------
MULTI-LINE INSURANCE (0.4%)
37,832 American International Group, Inc. (g)* (1,669)
35,117 Assurant, Inc. 1,126
127,800 Genworth Financial, Inc. "A" 1,527
106,300 Hartford Financial Services Group, Inc. 2,817
101,116 Loews Corp. 3,463
------------------
10,602
------------------
MULTI-SECTOR HOLDINGS (0.0%)
|
PORTFOLIO OF INVESTMENTS (continued) 6
USAA S&P 500 INDEX FUND
September 30, 2009 (unaudited)
NUMBER
OF SHARES SECURITY MARKET VALUE (000)
----------- -------- ------------------
50,400 Leucadia National Corp. * 1,246
------------------
OTHER DIVERSIFIED FINANCIAL SERVICES (4.1%)
2,403,873 Bank of America Corp. 40,674
3,629,604 Citigroup, Inc. (f) (17,567)
1,092,234 JPMorgan Chase & Co. 47,862
------------------
106,103
------------------
PROPERTY & CASUALTY INSURANCE (0.9%)
149,200 Allstate Corp. 4,568
95,779 Chubb Corp. 4,828
47,731 Cincinnati Financial Corp. 1,241
52,200 MBIA, Inc. * 405
192,751 Progressive Corp. * 3,196
158,093 Travelers Companies , Inc. 7,783
91,600 XL Capital Ltd. "A" 1,599
------------------
23,620
------------------
REAL ESTATE SERVICES (0.0%)
62,200 CB Richard Ellis Group, Inc. "A" * 730
------------------
REGIONAL BANKS (0.9%)
188,300 BB&T Corp. 5,129
222,875 Fifth Third Bancorp 2,258
59,990 First Horizon National Corp. * 794
240,440 First Horizon National Corp. - Fractional Shares * -
157,700 Huntington Bancshares, Inc. 743
239,300 KeyCorp 1,555
22,700 M&T Bank Corp. 1,415
96,799 Marshall & Ilsley Corp. 781
129,349 PNC Financial Services Group, Inc. 6,285
327,983 Regions Financial Corp. 2,037
140,260 SunTrust Banks, Inc. 3,163
34,400 Zions Bancorp 618
------------------
24,778
------------------
REITS - DIVERSIFIED (0.1%)
43,090 Vornado Realty Trust 2,775
------------------
REITS - INDUSTRIAL (0.1%)
126,500 ProLogis 1,508
------------------
REITs - OFFICE (0.1%)
37,400 Boston Properties, Inc. 2,452
------------------
REITS - RESIDENTIAL (0.2%)
34,660 Apartment Investment & Management Co. "A" 511
21,027 AvalonBay Communities, Inc. 1,530
77,589 Equity Residential Properties Trust 2,382
------------------
4,423
------------------
REITS - RETAIL (0.3%)
104,268 Kimco Realty Corp. 1,360
78,829 Simon Property Group, Inc. 5,473
------------------
6,833
------------------
REITS - SPECIALIZED (0.4%)
80,297 HCP, Inc. 2,308
32,236 Health Care REIT, Inc. 1,342
171,400 Host Hotels & Resorts, Inc. 2,017
45,600 Plum Creek Timber Co., Inc. (g) (1,397)
38,011 Public Storage 2,860
44,555 Ventas, Inc. 1,715
------------------
11,639
------------------
SPECIALIZED FINANCE (0.4%)
18,500 CME Group, Inc. 5,702
20,400 IntercontinentalExchange, Inc. * 1,983
53,100 Moody's Corp. 1,086
40,200 Nasdaq OMX Group, Inc. * 846
74,100 NYSE Euronext 2,141
------------------
11,758
------------------
THRIFTS & MORTGAGE FINANCE (0.1%)
133,557 Hudson City Bancorp, Inc. 1,756
|
PORTFOLIO OF INVESTMENTS (continued) 7
USAA S&P 500 INDEX FUND
September 30, 2009 (unaudited)
NUMBER
OF SHARES SECURITY MARKET VALUE (000)
----------- -------- ------------------
95,100 People's United Financial, Inc. 1,480
------------------
3,236
------------------
Total Financials 394,779
------------------
HEALTH CARE (13.0%)
-------------------
BIOTECHNOLOGY (1.7%)
282,961 Amgen, Inc. * 17,043
80,710 Biogen Idec, Inc. * 4,077
127,400 Celgene Corp. * 7,122
19,500 Cephalon, Inc. * 1,136
75,800 Genzyme Corp. * 4,300
251,064 Gilead Sciences, Inc. * 11,694
------------------
45,372
------------------
HEALTH CARE DISTRIBUTORS (0.4%)
81,143 AmerisourceBergen Corp. 1,816
97,415 Cardinal Health, Inc. 2,611
73,999 McKesson Corp. 4,406
27,600 Patterson Companies, Inc. * 752
------------------
9,585
------------------
HEALTH CARE EQUIPMENT (1.9%)
167,127 Baxter International, Inc. 9,528
67,000 Becton, Dickinson & Co. 4,673
412,000 Boston Scientific Corp. * 4,363
26,800 C.R. Bard, Inc. 2,107
48,707 Carefusion Corp. * 1,062
46,316 Hospira, Inc. * 2,066
10,800 Intuitive Surgical, Inc. * 2,832
305,637 Medtronic, Inc. 11,247
94,700 St. Jude Medical, Inc. * 3,694
79,018 Stryker Corp. 3,590
33,300 Varian Medical Systems, Inc. * 1,403
58,574 Zimmer Holdings, Inc. * 3,131
------------------
49,696
------------------
HEALTH CARE FACILITIES (0.0%)
124,300 Tenet Healthcare Corp. * 731
------------------
HEALTH CARE SERVICES (0.7%)
28,000 DaVita, Inc. * 1,586
76,324 Express Scripts, Inc. * 5,921
30,100 Laboratory Corp. of America Holdings * 1,978
131,286 Medco Health Solutions, Inc. * 7,261
44,845 Quest Diagnostics, Inc. 2,341
------------------
19,087
------------------
HEALTH CARE SUPPLIES (0.1%)
40,000 DENTSPLY International, Inc. 1,382
------------------
HEALTH CARE TECHNOLOGY (0.0%)
51,300 IMS Health, Inc. 787
------------------
LIFE SCIENCES TOOLS & SERVICES (0.4%)
48,523 Life Technologies Corp. * 2,259
14,400 Millipore Corp. * 1,013
32,900 PerkinElmer, Inc. 633
113,495 Thermo Fisher Scientific, Inc. * 4,956
27,700 Waters Corp. * 1,547
------------------
10,408
------------------
MANAGED HEALTH CARE (0.9%)
119,886 Aetna, Inc. 3,337
77,710 CIGNA Corp. 2,183
40,880 Coventry Health Care, Inc. * 816
45,100 Humana, Inc. * 1,682
323,450 UnitedHealth Group, Inc. 8,099
131,530 WellPoint, Inc. * 6,229
------------------
22,346
------------------
PHARMACEUTICALS (6.9%)
430,301 Abbott Laboratories 21,287
86,462 Allergan, Inc. 4,908
552,300 Bristol-Myers Squibb Co. 12,438
|
PORTFOLIO OF INVESTMENTS (continued) 8
USAA S&P 500 INDEX FUND
September 30, 2009 (unaudited)
NUMBER
OF SHARES SECURITY MARKET VALUE (000)
----------- -------- ------------------
280,900 Eli Lilly and Co. 9,278
81,700 Forest Laboratories, Inc. * 2,405
765,591 Johnson & Johnson 46,617
65,400 King Pharmaceuticals, Inc. * 704
586,900 Merck & Co., Inc. 18,564
86,700 Mylan, Inc. * 1,388
1,877,546 Pfizer, Inc. (f) (31,074)
453,100 Schering-Plough Corp. 12,800
28,800 Watson Pharmaceuticals, Inc. * 1,055
371,000 Wyeth 18,023
------------------
180,541
------------------
Total Health Care 339,935
------------------
INDUSTRIALS (10.1%)
-------------------
AEROSPACE & DEFENSE (2.7%)
202,500 Boeing Co. 10,965
105,995 General Dynamics Corp. 6,847
35,294 Goodrich Corp. 1,918
208,300 Honeywell International, Inc. 7,738
51,535 ITT Corp. 2,688
32,000 L-3 Communications Holdings, Inc. 2,570
90,300 Lockheed Martin Corp. 7,051
87,197 Northrop Grumman Corp. 4,513
38,300 Precision Castparts Corp. 3,902
107,653 Raytheon Co. 5,164
45,278 Rockwell Collins, Inc. 2,300
262,500 United Technologies Corp. 15,994
------------------
71,650
------------------
AIR FREIGHT & LOGISTICS (1.0%)
47,100 C.H. Robinson Worldwide, Inc. 2,720
56,326 Expeditors International of Washington, Inc. 1,980
85,682 FedEx Corp. 6,445
277,268 United Parcel Service, Inc. "B" 15,657
------------------
26,802
------------------
AIRLINES (0.1%)
199,600 Southwest Airlines Co. 1,916
------------------
BUILDING PRODUCTS (0.0%)
100,000 Masco Corp. 1,292
------------------
COMMERCIAL PRINTING (0.0%)
56,900 R.R. Donnelley & Sons Co. 1,210
------------------
CONSTRUCTION & ENGINEERING (0.2%)
49,400 Fluor Corp. 2,512
33,000 Jacobs Engineering Group, Inc. * 1,516
53,500 Quanta Services, Inc. * 1,184
------------------
5,212
------------------
CONSTRUCTION & FARM MACHINERY & HEAVY TRUCKS (0.8%)
172,383 Caterpillar, Inc. 8,848
57,633 Cummins, Inc. 2,583
116,200 Deere & Co. 4,987
101,700 PACCAR, Inc. 3,835
------------------
20,253
------------------
DIVERSIFIED SUPPORT SERVICES (0.1%)
36,500 Cintas Corp. 1,106
49,200 Iron Mountain, Inc. * 1,312
------------------
2,418
------------------
ELECTRICAL COMPONENTS & EQUIPMENT (0.4%)
208,900 Emerson Electric Co. 8,373
39,500 Rockwell Automation, Inc. 1,682
------------------
10,055
------------------
ENVIRONMENTAL & FACILITIES SERVICES (0.3%)
91,935 Republic Services, Inc. 2,443
23,000 Stericycle, Inc. * 1,114
138,800 Waste Management, Inc. 4,139
------------------
7,696
------------------
HUMAN RESOURCE & EMPLOYMENT SERVICES (0.1%)
|
PORTFOLIO OF INVESTMENTS (continued) 9
USAA S&P 500 INDEX FUND
September 30, 2009 (unaudited)
NUMBER
OF SHARES SECURITY MARKET VALUE (000)
----------- -------- ------------------
32,200 Monster Worldwide, Inc. * 563
43,100 Robert Half International, Inc. 1,078
------------------
1,641
------------------
INDUSTRIAL CONGLOMERATES (2.4%)
193,800 3M Co. 14,302
2,952,815 General Electric Co. (f) (48,485)
71,800 Textron, Inc. 1,363
------------------
64,150
------------------
INDUSTRIAL MACHINERY (0.8%)
72,895 Danaher Corp. 4,907
50,600 Dover Corp. 1,961
45,300 Eaton Corp. 2,564
16,300 Flowserve Corp. 1,606
105,384 Illinois Tool Works, Inc. 4,501
34,507 Pall Corp. 1,114
45,100 Parker-Hannifin Corp. 2,338
18,082 Snap-On, Inc. 629
20,500 Stanley Works 875
------------------
20,495
------------------
OFFICE SERVICES & SUPPLIES (0.1%)
32,718 Avery Dennison Corp. 1,178
57,200 Pitney Bowes, Inc. 1,422
------------------
2,600
------------------
RAILROADS (0.9%)
72,433 Burlington Northern Santa Fe Corp. 5,782
110,100 CSX Corp. 4,609
100,441 Norfolk Southern Corp. 4,330
141,073 Union Pacific Corp. 8,232
------------------
22,953
------------------
RESEARCH & CONSULTING SERVICES (0.1%)
14,500 Dun & Bradstreet Corp. 1,092
35,700 Equifax, Inc. 1,041
------------------
2,133
------------------
TRADING COMPANIES & DISTRIBUTORS (0.1%)
36,400 Fastenal Co. (g) (1,409)
18,100 W.W. Grainger, Inc. 1,617
------------------
3,026
------------------
TRUCKING (0.0%)
15,500 Ryder System, Inc. 606
------------------
Total Industrials 266,108
------------------
INFORMATION TECHNOLOGY (18.5%)
------------------------------
APPLICATION SOFTWARE (0.5%)
146,700 Adobe Systems, Inc. * 4,847
61,900 Autodesk, Inc. * 1,473
52,297 Citrix Systems, Inc. * 2,052
57,718 Compuware Corp. * 423
90,000 Intuit, Inc. * 2,565
30,416 salesforce.com, Inc. * 1,731
------------------
13,091
------------------
COMMUNICATIONS EQUIPMENT (2.7%)
28,942 Ciena Corp. * 471
1,604,021 Cisco Systems, Inc. * 37,759
35,100 Harris Corp. 1,320
59,625 JDS Uniphase Corp. * 424
144,200 Juniper Networks, Inc. * 3,896
645,076 Motorola, Inc. 5,541
460,300 QUALCOMM, Inc. 20,704
118,800 Tellabs, Inc. * 822
------------------
70,937
------------------
COMPUTER HARDWARE (5.0%)
248,692 Apple, Inc. * 46,100
476,600 Dell, Inc. * 7,273
659,011 Hewlett-Packard Co. 31,112
363,977 International Business Machines Corp. 43,535
|
PORTFOLIO OF INVESTMENTS (continued) 10
USAA S&P 500 INDEX FUND
September 30, 2009 (unaudited)
NUMBER
OF SHARES SECURITY MARKET VALUE (000)
----------- -------- ------------------
208,900 Sun Microsystems, Inc. * 1,899
47,700 Teradata Corp. * 1,313
------------------
131,232
------------------
COMPUTER STORAGE & PERIPHERALS (0.6%)
562,113 EMC Corp. * 9,578
21,600 Lexmark International, Inc. "A" * 465
92,300 NetApp, Inc. * 2,463
32,900 QLogic Corp. * 566
63,000 SanDisk Corp. * 1,367
61,100 Western Digital Corp. * 2,232
------------------
16,671
------------------
DATA PROCESSING & OUTSOURCED SERVICES (1.0%)
27,200 Affiliated Computer Services, Inc. "A" * 1,473
141,400 Automatic Data Processing, Inc. 5,557
43,234 Computer Sciences Corp. * 2,279
35,500 Convergys Corp. * 353
55,871 Fidelity National Information Services, Inc. 1,425
41,951 Fiserv, Inc. * 2,022
26,754 MasterCard, Inc. "A" 5,408
91,100 Paychex, Inc. 2,647
50,155 Total System Services, Inc. 808
190,799 Western Union Co. 3,610
------------------
25,582
------------------
ELECTRONIC COMPONENTS (0.3%)
48,000 Amphenol Corp. "A" 1,809
433,600 Corning, Inc. 6,638
------------------
8,447
------------------
ELECTRONIC EQUIPMENT & INSTRUMENTS (0.2%)
96,200 Agilent Technologies, Inc. * 2,677
44,737 FLIR Systems, Inc. * 1,252
------------------
3,929
------------------
ELECTRONIC MANUFACTURING SERVICES (0.1%)
51,500 Jabil Circuit, Inc. 691
36,800 Molex, Inc. 768
------------------
1,459
------------------
HOME ENTERTAINMENT SOFTWARE (0.1%)
92,000 Electronic Arts, Inc. * 1,753
------------------
INTERNET SOFTWARE & SERVICES (1.9%)
46,700 Akamai Technologies, Inc. * 919
312,212 eBay, Inc. * 7,371
66,814 Google, Inc. "A" * 33,130
54,400 VeriSign, Inc. * 1,289
331,849 Yahoo!, Inc. * 5,910
------------------
48,619
------------------
IT CONSULTING & OTHER SERVICES (0.1%)
83,100 Cognizant Technology Solutions Corp. "A" * 3,213
------------------
OFFICE ELECTRONICS (0.1%)
240,100 Xerox Corp. 1,858
------------------
SEMICONDUCTOR EQUIPMENT (0.3%)
367,500 Applied Materials, Inc. 4,925
46,400 KLA-Tencor Corp. 1,664
60,700 MEMC Electronic Materials, Inc. * 1,009
30,400 Novellus Systems, Inc. * 638
53,300 Teradyne, Inc. * 493
------------------
8,729
------------------
SEMICONDUCTORS (2.2%)
152,400 Advanced Micro Devices, Inc. * 863
77,885 Altera Corp. 1,597
78,300 Analog Devices, Inc. 2,159
117,850 Broadcom Corp. "A" * 3,617
1,550,091 Intel Corp. 30,335
63,800 Linear Technology Corp. 1,763
180,300 LSI Corp. * 990
51,100 Microchip Technology, Inc. (g) 1,354
|
PORTFOLIO OF INVESTMENTS (continued) 11
USAA S&P 500 INDEX FUND
September 30, 2009 (unaudited)
NUMBER
OF SHARES SECURITY MARKET VALUE (000)
----------- -------- ------------------
244,247 Micron Technology, Inc. * 2,003
63,330 National Semiconductor Corp. 904
156,560 NVIDIA Corp. * 2,353
353,200 Texas Instruments, Inc. 8,367
79,200 Xilinx, Inc. 1,855
------------------
58,160
------------------
SYSTEMS SOFTWARE (3.4%)
51,500 BMC Software, Inc. * 1,933
113,296 CA, Inc. 2,491
41,900 McAfee, Inc. * 1,835
2,151,719 Microsoft Corp. 55,708
87,600 Novell, Inc. * 395
1,083,392 Oracle Corp. 22,578
52,304 Red Hat, Inc. * 1,446
229,789 Symantec Corp. * 3,784
------------------
90,170
------------------
------------------
Total Information Technology 483,850
------------------
MATERIALS (3.5%)
----------------
ALUMINUM (0.1%)
268,100 Alcoa, Inc. 3,517
------------------
CONSTRUCTION MATERIALS (0.1%)
36,007 Vulcan Materials Co. 1,947
------------------
DIVERSIFIED CHEMICALS (0.8%)
316,500 Dow Chemical Co. 8,251
248,875 E.I. du Pont de Nemours & Co. 7,999
20,600 Eastman Chemical Co. 1,103
20,100 FMC Corp. 1,131
46,305 PPG Industries, Inc. 2,695
------------------
21,179
------------------
DIVERSIFIED METALS & MINING (0.3%)
114,133 Freeport-McMoRan Copper & Gold, Inc. 7,831
22,800 Titanium Metals Corp. 218
------------------
8,049
------------------
FERTILIZERS & AGRICULTURAL CHEMICALS (0.5%)
13,900 CF Industries Holdings, Inc. 1,199
152,314 Monsanto Co. 11,789
------------------
12,988
------------------
FOREST PRODUCTS (0.1%)
59,008 Weyerhaeuser Co. 2,163
------------------
GOLD (0.2%)
137,683 Newmont Mining Corp. 6,061
------------------
INDUSTRIAL GASES (0.5%)
58,794 Air Products & Chemicals, Inc. 4,561
22,609 Airgas, Inc. 1,094
84,700 Praxair, Inc. 6,919
------------------
12,574
------------------
METAL & GLASS CONTAINERS (0.2%)
26,300 Ball Corp. 1,294
45,800 Owens-Illinois, Inc. * 1,690
34,000 Pactiv Corp. * 886
------------------
3,870
------------------
PAPER PACKAGING (0.1%)
30,166 Bemis Co., Inc. 782
42,700 Sealed Air Corp. 838
------------------
1,620
------------------
PAPER PRODUCTS (0.1%)
122,920 International Paper Co. 2,733
46,411 MeadWestvaco Corp. 1,035
------------------
3,768
------------------
SPECIALTY CHEMICALS (0.2%)
65,301 Ecolab, Inc. 3,019
21,200 International Flavors & Fragrances, Inc. 804
|
PORTFOLIO OF INVESTMENTS (continued) 12
USAA S&P 500 INDEX FUND
September 30, 2009 (unaudited)
NUMBER
OF SHARES SECURITY MARKET VALUE (000)
----------- -------- ------------------
34,800 Sigma-Aldrich Corp. 1,878
------------------
5,701
------------------
STEEL (0.3%)
32,200 AK Steel Holding Corp. 635
27,100 Allegheny Technologies, Inc. 948
87,100 Nucor Corp. 4,095
39,100 United States Steel Corp. 1,735
------------------
7,413
------------------
Total Materials 90,850
------------------
TELECOMMUNICATION SERVICES (3.1%)
---------------------------------
INTEGRATED TELECOMMUNICATION SERVICES (2.8%)
1,640,965 AT&T, Inc. 44,322
82,114 CenturyTel, Inc. 2,759
82,200 Frontier Communications Corp. 620
420,100 Qwest Communications International, Inc. (g) (1,600)
789,060 Verizon Communications, Inc. 23,885
119,531 Windstream Corp. 1,211
------------------
74,397
------------------
WIRELESS TELECOMMUNICATION SERVICES (0.3%)
108,208 American Tower Corp. "A" * 3,939
70,100 MetroPCS Communications, Inc. * 656
793,639 Sprint Nextel Corp. * 3,135
------------------
7,730
------------------
------------------
Total Telecommunication Services 82,127
------------------
UTILITIES (3.7%)
----------------
ELECTRIC UTILITIES (1.9%)
49,300 Allegheny Energy, Inc. 1,308
130,687 American Electric Power Co., Inc. 4,050
88,216 Edison International 2,962
53,726 Entergy Corp. 4,291
184,300 Exelon Corp. 9,145
83,509 FirstEnergy Corp. 3,818
114,600 FPL Group, Inc. 6,329
50,933 Northeast Utilities 1,209
64,409 Pepco Holdings, Inc. 958
30,092 Pinnacle West Capital Corp. 988
106,197 PPL Corp. 3,222
76,100 Progress Energy, Inc. 2,972
219,700 Southern Co. 6,958
------------------
48,210
------------------
GAS UTILITIES (0.1%)
35,200 EQT Corp. 1,499
14,700 Nicor, Inc. 538
46,500 Questar Corp. 1,747
------------------
3,784
------------------
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS (0.2%)
181,500 AES Corp. * 2,690
57,229 Constellation Energy Group, Inc. 1,852
135,221 Dynegy, Inc. "A" * 345
------------------
4,887
------------------
MULTI-UTILITIES (1.5%)
67,234 Ameren Corp. 1,700
110,746 CenterPoint Energy, Inc. 1,377
57,902 CMS Energy Corp. 776
74,847 Consolidated Edison, Inc. 3,064
166,190 Dominion Resources, Inc. 5,734
46,985 DTE Energy Co. 1,651
356,880 Duke Energy Corp. 5,617
19,300 Integrys Energy Group, Inc. 693
73,559 NiSource, Inc. 1,022
102,600 PG&E Corp. 4,154
142,000 Public Service Enterprise Group, Inc. 4,464
32,300 SCANA Corp. 1,127
66,633 Sempra Energy 3,319
|
PORTFOLIO OF INVESTMENTS (continued) 13
USAA S&P 500 INDEX FUND
September 30, 2009 (unaudited)
NUMBER
OF SHARES SECURITY MARKET VALUE (000)
----------- -------- ------------------
63,412 TECO Energy, Inc. 893
31,500 Wisconsin Energy Corp. 1,423
127,922 Xcel Energy, Inc. 2,461
------------------
39,475
------------------
Total Utilities 96,356
------------------
Total Common Stocks (cost: $2,591,866) 2,593,005
------------------
MONEY MARKET INSTRUMENTS (0.9%)
MONEY MARKET FUND (0.6%)
16,499,377 Northern Institutional Funds - Diversified Assets Portfolio, 0.10% (a),(d) (16,499)
------------------
PRINCIPAL
AMOUNT
(000)
-----------
U.S. TREASURY BILLS (0.3%)
$ 6,470 0.27%, 11/19/2009 (b),(e) (6,468)
------------------
Total Money Market Instruments (cost: $22,967) 22,967
------------------
Number
of Shares
-----------
SHORT-TERM INVESTMENTS PURCHASED WITH CASH COLLATERAL
FROM SECURITIES LOANED (0.3%)
MONEY MARKET FUNDS (0.3%)
1,477,356 AIM Short-Term Investment Co. Liquid Assets Portfolio, 0.28%(a) 1,477
7,641,127 BlackRock Provident Liquidity Institutional Temp Fund, 0.22%(a) 7,641
------------------
Total Money Market Funds 9,118
------------------
PRINCIPAL
AMOUNT
(000)
-----------
REPURCHASE AGREEMENTS (0.0%)
$500 Credit Suisse First Boston LLC, 0.05%, acquired on 9/30/2009 and due
10/01/2009 at $500 (collateralized by $515 of U.S. Treasury, 0.28%(h), 500
due 6/17/2010; market value $514) 200
Deutsche Bank Securities, Inc., 0.06%, acquired on 9/30/2009 and due
10/01/2009 at $200 (collateralized by $205 of Federal Home Loan
Bank(i), 0.55%, due 6/30/2010; market value $205) 200
------------------
Total Repurchase Agreements 700
------------------
Total Short-Term Investments Purchased With Cash Collateral From
Securities Loaned (cost: 9,818) 9,818
------------------
TOTAL INVESTMENTS (COST: $2,624,651) $ 2,625,790
==================
|
PORTFOLIO OF INVESTMENTS (continued) 14
USAA S&P 500 INDEX FUND
September 30, 2009 (unaudited)
($ IN 000'S) VALUATION HIERARCHY
(LEVEL 1) (LEVEL 2) (LEVEL 3)
QUOTED PRICES IN SIGNIFICANT
ACTIVE MARKETS FOR OTHER SIGNIFICANT UNOBSERVABLE
IDENTICAL ASSETS OBSERVABLE INPUTS INPUTS TOTAL
----------------------------------------------------------------------------------------------------------------------
Common Stocks $ 2,593,005 $ - $ - $ 2,593,005
Money Market Instruments
Money Market Fund 16,499 - - 16,499
U.S. Treasury Bills - 6,468 - 6,468
Short-Term Investments Purchased with
Cash Collateral from Securities Loaned:
Money Market Fund 9,118 9,118
Repurchase Agreements 700 700
Other Financial Instruments* 446 446
----------------------------------------------------------------------------------------------------------------------
TOTAL $ 2,619,068 $ 7,168 $ - $ 2,626,236
----------------------------------------------------------------------------------------------------------------------
*Other financial instruments are derivative instruments not reflected in the portfolio of investments,
such as futures, which are valued at the unrealized appreciation/depreciation on the investment.
|
NOTES TO PORTFOLIO
OF INVESTMENTS
September 30, 2009 (unaudited)
GENERAL NOTES
USAA MUTUAL FUNDS TRUST (the Trust), registered under the Investment Company Act
of 1940 (the 1940 Act), as amended, is an open-end management investment company
organized as a Delaware statutory trust consisting of 45 separate funds. The
information presented in this quarterly report pertains only to the USAA S&P 500
Index Fund (the Fund), which is classified as diversified under the 1940 Act.
The Fund has two classes of shares: Member Shares and Reward Shares. Each class
of shares has equal rights to assets and earnings, except that each class bears
certain class-related expenses specific to the particular class. These expenses
include administration and servicing fees, transfer agency fees, postage,
shareholder reporting fees, and certain registration and custodian fees.
Expenses not attributable to a specific class, income, and realized gains or
losses on investments are allocated to each class of shares based on each
class's relative net assets. Each class has exclusive voting rights on matters
related solely to that class and separate voting rights on matters that relate
to both classes.
A. SECURITY VALUATION - The value of each security is determined (as of the
close of trading on the New York Stock Exchange (NYSE) on each business day the
NYSE is open) as set forth below:
1. Equity securities, including exchange-traded funds (ETFs), except as
otherwise noted, traded primarily on a domestic securities exchange or the
Nasdaq over-the-counter markets are valued at the last sales price or official
closing price on the exchange or primary market on which they trade. If no last
sale or official closing price is reported or available, the average of the bid
and asked prices generally is used.
2. Investments in open-end investment companies, hedge, or other funds, other
than ETFs, are valued at their net asset value (NAV) at the end of each business
day.
3. Futures are valued based upon the last sale price at the close of market on
the principal exchange on which they are traded.
4. Debt securities purchased with original or remaining maturities of 60 days or
less may be valued at amortized cost, which approximates market value.
5. Debt securities with maturities greater than 60 days are valued each business
day by a pricing service (the Service) approved by the Trust's Board of
Trustees. The Service uses an evaluated mean between quoted bid and asked prices
or the last sales price to price securities when, in the Service's judgment,
these prices are readily available and are representative of the securities'
market values. For many securities, such prices are not readily available. The
Service generally prices these
15 | USAA S&P 500 Index Fund
securities based on methods that include consideration of yields or prices of
securities of comparable quality, coupon, maturity, and type; indications as to
values from dealers in securities; and general market conditions.
6. Repurchase agreements are valued at cost, which approximates market value.
7. Securities for which market quotations are not readily available or are
considered unreliable, or whose values have been materially affected by events
occurring after the close of their primary markets but before the pricing of the
Fund, are valued in good faith at fair value, using methods determined by USAA
Investment Management Company (the Manager), an affiliate of the Fund, in
consultation with the Fund's subadviser, if applicable, under valuation
procedures approved by the Trust's Board of Trustees. The effect of fair value
pricing is that securities may not be priced on the basis of quotations from the
primary market in which they are traded and the actual price realized from the
sale of a security may differ materially from the fair value price. Valuing
these securities at fair value is intended to cause the Fund's NAV to be more
reliable than it otherwise would be.
Fair value methods used by the Manager include, but are not limited to,
obtaining market quotations from secondary pricing services, broker-dealers, or
widely used quotation systems. General factors considered in determining the
fair value of securities include fundamental analytical data, the nature and
duration of any restrictions on disposition of the securities, and an evaluation
of the forces that influenced the market in which the securities are purchased
and sold.
B. FAIR VALUE MEASUREMENTS - Fair value is defined as the price that would be
received to sell an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date. The three-level
valuation hierarchy disclosed in the portfolio of investments is based upon the
transparency of inputs to the valuation of an asset or liability as of the
measurement date. The three levels are defined as follows:
Level 1 - inputs to the valuation methodology are quoted prices (unadjusted) in
active markets for identical securities.
Level 2 - inputs to the valuation methodology are other significant observable
inputs, including quoted prices for similar securities, inputs that are
observable for the securities, either directly or indirectly, and
market-corroborated inputs such as market indices.
Level 3 - inputs to the valuation methodology are unobservable and significant
to the fair value measurement, including the Manager's own assumptions in
determining the fair value.
The inputs or methodologies used for valuing securities are not necessarily an
indication of the risks associated with investing in those securities.
C. FUTURES CONTRACTS - The Fund is subject to cash flow and tracking error risk
in the normal course of pursuing its investment objectives. The Fund may use
stock index futures contracts in an attempt to reduce any performance
discrepancies between the Fund and the S&P 500 Index. A futures contract
represents a commitment for the future purchase or sale of an asset at a
specified price on a specified date. Upon entering into such contracts, the Fund
is required to deposit with the broker in
Notes to Portfolio of Investments | 16
either cash or securities an initial margin in an amount equal to a certain
percentage of the contract amount. Subsequent payments (variation margin) are
made or received by the Fund each day, depending on the daily fluctuations in
the value of the contract, and are recorded for financial statement purposes as
unrealized gains or losses. When the contract is closed, the Fund records a
realized gain or loss equal to the difference between the value of the contract
at the time it was opened and the value at the time it was closed. Upon entering
into such contracts, the Fund bears the risk of interest or exchange rates or
securities prices moving unexpectedly in an unfavorable direction, in which
case, the Fund may not achieve the anticipated benefits of the futures
contracts.
D. LENDING OF PORTFOLIO SECURITIES - The Fund, through its third-party
securities-lending agent, Wachovia Global Securities Lending, may lend its
securities to qualified financial institutions, such as certain broker-dealers,
to earn additional income. The borrowers are required to secure their loans
continuously with cash collateral in an amount at least equal to the fair value
of the securities loaned, initially in an amount at least equal to 102% of the
fair value of domestic securities loaned and 105% of the fair value of
international securities loaned. Cash collateral is invested in high-quality
short-term investments. Cash collateral requirements are determined daily based
on the prior business day's ending value of securities loaned. Imbalances in
cash collateral may occur on days where market volatility causes security prices
to change significantly, and are adjusted the next business day. Risks to the
Fund in securities-lending transactions are that the borrower may not provide
additional collateral when required or return the securities when due, and that
the value of the short-term investments will be less than the amount of cash
collateral required to be returned to the borrower. The aggregate fair market
value of the loaned portion of these securities as of September 30, 2009, was
approximately $9,616,000.
E. SUBSEQUENT EVENTS - Subsequent events are events or transactions that occur
after the balance sheet date but before the quarterly report is issued and are
categorized as recognized or non-recognized for quarterly report purposes. The
Manager has evaluated subsequent events through November 19, 2009, the date the
quarterly report was issued, and has determined there were no events that
required recognition or disclosure in the Fund's quarterly report.
F. As of September 30, 2009, the cost of securities, for federal income tax
purposes, was approximately the same as that reported in the portfolio of
investments. Gross unrealized appreciation and depreciation of investments as of
September 30, 2009, were $573,073,000 and $571,934,000, respectively, resulting
in net unrealized appreciation of $1,139,000.
G. The portfolio of investments category percentages shown represent the
percentages of the investments to net assets, which were $2,618,997,000 at
September 30, 2009, and, in total, may not equal 100%. A category percentage of
0.0% represents less than 0.1% of net assets.
PORTFOLIO ABBREVIATIONS AND DESCRIPTIONS
REIT - Real estate investment trust
SPECIFIC NOTES
(a) Rate represents the money market fund annualized seven-day yield at
September 30, 2009.
17 | USAA S&P 500 Index Fund
(b) Rate represents an annualized yield at time of purchase, not a coupon rate.
(c) Northern Trust Corp. is the parent to Northern Trust Investments, N.A.
(NTI), which is the subadviser of the Fund.
(d) NTI is both the subadviser of the Fund and the adviser of the Northern
Institutional Funds.
(e) Security with a value of $6,468,000 is segregated as collateral for initial
margin requirements on open futures contracts.
(f) Security, or a portion thereof, is segregated to cover the value of open
futures contracts at September 30, 2009, as shown in the following table:
VALUE AT
------------------------------ UNREALIZED
TYPE OF FUTURE EXPIRATION CONTRACTS POSITION TRADE DATE SEPTEMBER 30, APPRECIATION
2009
-----------------------------------------------------------------------------------------------
S&P 500 Index December 18, 98 Long $25,350,000 $25,796,000 $446,000
Futures 2009
|
(g) The security or a portion thereof was out on loan as of September 30, 2009.
(h) Zero-coupon security. Rate represents the effective yield at the date of
purchase.
(i) Securities issued by government-sponsored enterprises (GSEs) are supported
only by the right of the GSE to borrow from the U.S. Treasury, the discretionary
authority of the U.S. government to purchase the GSEs' obligations, or by the
credit of the issuing agency, instrumentality, or corporation, and are neither
issued nor guaranteed by the U.S. Treasury.
* Non-income producing security.
Notes to Portfolio of Investments | 18
ITEM 2. CONTROLS AND PROCEDURES
The principal executive officer and principal financial officer of USAA Mutual
Funds Trust (Trust) have concluded that the Trust's disclosure controls and
procedures are sufficient to ensure that information required to be disclosed by
the Trust in this Form N-Q was recorded, processed, summarized and reported
within the time periods specified in the Securities and Exchange Commission's
rules and forms, based upon such officers' evaluation of these controls and
procedures as of a date within 90 days of the filing date of the report.
There were no significant changes or corrective actions with regard to
significant deficiencies or material weaknesses in the Trust's internal controls
or in other factors that could significantly affect the Trust's internal
controls subsequent to the date of their evaluation.
ITEM 3. EXHIBITS.
Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940
(17 CFR 270.30a-2(a)) is filed and attached hereto 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.
Registrant: USAA MUTUAL FUNDS TRUST - Period Ended September 30, 2009
By:* /s/ CHRISTOPHER P. LAIA
--------------------------------------------------------------
Signature and Title: Christopher P. Laia, Assistant Secretary
Date: NOVEMBER 20, 2009
-------------------------------
|
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/ CHRISTOPHER W. CLAUS
-----------------------------------------------------
Signature and Title: Christopher W. Claus, President
Date: NOVEMBER 23, 2009
------------------------------
By:* /s/ ROBERTO GALINDO, JR.
-----------------------------------------------------
Signature and Title: Roberto Galindo, Jr., Treasurer
Date: NOVEMBER 23, 2009
------------------------------
|
*PRINT THE NAME AND TITLE OF EACH SIGNING OFFICER UNDER HIS OR HER SIGNATURE.
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