Edgar Filing: WisdomTree Trust

WisdomTree Trust

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-21864

WisdomTree Trust

(Exact name of Registrant as specified in charter)

380 Madison Avenue, 21^st Floor New York, NY 10017

(Address of principal executive offices) (Zip code)

The Corporation Trust Company

1209 Orange Street

Wilmington, DE 19801

(Name and address of agent for service)

Registrant’s telephone number, including area code: (866) 909-9473

Date of fiscal year end: August 31

Date of reporting period: May 31, 2011

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1.

Schedule of Investments.

Schedule of Investments (unaudited)

WisdomTree Dreyfus Brazilian Real Fund (BZF)

May 31, 2011


Investments	Principal Amount		Value
U.S. GOVERNMENT OBLIGATIONS - 74.1%

Treasury Bills - 74.1%
U.S. Treasury Bills
0.03%, 6/02/11*	$	53,600,000	$	53,599,911
0.09%, 6/16/11*		5,000,000		4,999,913
0.05%, 6/23/11*		23,000,000		22,999,643
0.02%, 6/30/11*		6,550,000		6,549,939
0.02%, 7/14/11*		27,900,000		27,899,315
0.05%, 8/04/11*		5,000,000		4,999,760
0.04%, 8/18/11*		10,000,000		9,999,200

TOTAL U.S. GOVERNMENT OBLIGATIONS (Cost: $131,047,134)				131,047,681

MONEY MARKET FUND - 1.1%
Invesco Treasury Fund Private Class, 0.02%^(a) (Cost: $1,981,814)		1,981,814		1,981,814

REPURCHASE AGREEMENT - 25.3%
Citigroup, Inc. tri-party repurchase agreement dated 5/31/11, 0.14% due 6/01/11; Proceeds at maturity - $44,647,998 (fully collateralized by Ginnie Mae, 4.00% - 6.00% due 5/15/26 - 2/15/40; Market value - $46,880,217) (Cost: $44,647,824)		44,647,824		44,647,824

TOTAL INVESTMENTS IN SECURITIES - 100.5% (Cost: $177,676,772)^(b⁾				177,677,319
Liabilities in Excess of Other Assets - (0.5)%				(949,475	)

NET ASSETS - 100.0%			$	176,727,844

*	Interest rate shown reflects the discount rate at time of purchase.

^(a)	Rate shown represents annualized 7-day yield as of May 31, 2011.

^(b)	Aggregate cost for Federal income tax purposes is substantially the same as for book purposes.

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)

WisdomTree Dreyfus Chinese Yuan Fund (CYB)

May 31, 2011


Investments	Principal Amount		Value
U.S. GOVERNMENT OBLIGATIONS - 69.4%

Treasury Bills - 69.4%
U.S. Treasury Bills
0.03%, 6/02/11*	$	195,700,000	$	195,699,673
0.05%, 6/23/11*		144,000,000		143,997,765
0.02%, 7/14/11*		93,800,000		93,797,650
0.06%, 7/28/11*		10,000,000		9,999,772
0.05%, 8/04/11*		20,000,000		19,999,040

TOTAL U.S. GOVERNMENT OBLIGATIONS (Cost: $463,490,773)				463,493,900

MONEY MARKET FUND - 0.5%
Invesco Treasury Fund Private Class, 0.02%^(a) (Cost: $3,373,997)		3,373,997		3,373,997

REPURCHASE AGREEMENT - 29.6%
Citigroup, Inc. tri-party repurchase agreement dated 5/31/11, 0.14% due 6/01/11; Proceeds at maturity - $197,812,837 (fully collateralized by Fannie Mae, 3.50% - 5.50% due 8/01/23 - 10/01/40, Freddie Mac, 4.50% due 5/01/31 and Ginnie Mae, 5.50% due 3/15/38 - 7/20/40; Market value - $207,702,671) (Cost: $197,812,068)		197,812,068		197,812,068

TOTAL INVESTMENTS IN SECURITIES - 99.5% (Cost: $664,676,838)^(b⁾				664,679,965
Other Assets in Excess of Liabilities - 0.5%				3,696,885

NET ASSETS - 100.0%			$	668,376,850

*	Interest rate shown reflects the discount rate at time of purchase.

^(a)	Rate shown represents annualized 7-day yield as of May 31, 2011.

^(b)	Aggregate cost for Federal income tax purposes is substantially the same as for book purposes.

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)

WisdomTree Dreyfus Commodity Currency Fund (CCX)

May 31, 2011


Investments	Principal Amount		Value
U.S. GOVERNMENT OBLIGATIONS - 64.9%

Treasury Bills - 64.9%
U.S. Treasury Bills
0.03%, 6/02/11*	$	25,100,000	$	25,099,958
0.05%, 6/23/11*		9,700,000		9,699,849
0.01%, 6/30/11*		5,000,000		4,999,971
0.02%, 7/14/11*		52,000,000		51,998,709
0.05%, 8/04/11*		3,000,000		2,999,856

TOTAL U.S. GOVERNMENT OBLIGATIONS (Cost: $94,798,158)				94,798,343

MONEY MARKET FUND - 0.5%
Invesco Treasury Fund Private Class, 0.02%^(a) (Cost: $751,881)		751,881		751,881

REPURCHASE AGREEMENT - 30.8%
Citigroup, Inc. tri-party repurchase agreement dated 5/31/11, 0.14% due 6/01/11; Proceeds at maturity - $45,020,476 (fully collateralized by Fannie Mae, 4.50% - 5.50% due 11/01/25 - 11/01/40, Freddie Mac, 4.50% due 8/01/23 and Ginnie Mae, 5.00% due 7/15/39; Market value - $47,271,317) (Cost: $45,020,301)		45,020,301		45,020,301

TOTAL INVESTMENTS IN SECURITIES - 96.2% (Cost: $140,570,340)^(b⁾				140,570,525
Other Assets in Excess of Liabilities - 3.8%				5,479,644

NET ASSETS - 100.0%			$	146,050,169

*	Interest rate shown reflects the discount rate at time of purchase.

^(a)	Rate shown represents annualized 7-day yield as of May 31, 2011.

^(b)	Aggregate cost for Federal income tax purposes is substantially the same as for book purposes.

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)

WisdomTree Dreyfus Emerging Currency Fund (CEW)

May 31, 2011


Investments	Principal Amount		Value
U.S. GOVERNMENT OBLIGATIONS - 71.1%

Treasury Bills - 71.1%
U.S. Treasury Bills
0.04%, 6/02/11*	$	173,300,000	$	173,299,769
0.11%, 6/09/11*		10,000,000		9,999,971
0.07%, 6/16/11*		12,000,000		11,999,792
0.06%, 6/23/11*		26,500,000		26,499,589
0.03%, 6/30/11*		50,000,000		49,999,578
0.02%, 7/14/11*		61,500,000		61,498,531
0.05%, 7/28/11*		22,000,000		21,999,498
0.05%, 8/04/11*		13,000,000		12,999,376
0.02%, 8/11/11*		20,000,000		19,998,620
0.04%, 8/18/11*		26,000,000		25,997,920
0.04%, 9/22/11*		400,000		399,935

TOTAL U.S. GOVERNMENT OBLIGATIONS (Cost: $414,690,838)				414,692,579

MONEY MARKET FUND - 0.6%
Invesco Treasury Fund Private Class, 0.02%^(a) (Cost: $3,755,177)		3,755,177		3,755,177

REPURCHASE AGREEMENT - 28.3%
Citigroup, Inc. tri-party repurchase agreement dated 5/31/11, 0.14% due 6/01/11; Proceeds at maturity - $164,889,763 (fully collateralized by Fannie Mae, 4.00% - 5.50% due 11/01/35 - 3/01/41, Freddie Mac, 4.50% - 5.00% due 1/01/41 - 5/01/41 and Ginnie Mae, 4.50% due 8/15/39; Market value - $173,133,579) (Cost: $164,889,122)		164,889,122		164,889,122

TOTAL INVESTMENTS IN SECURITIES - 100.0% (Cost: $583,335,137)^(b⁾				583,336,878
Cash and Other Assets in Excess of Liabilities - 0.0%				242,100

NET ASSETS - 100.0%			$	583,578,978

*	Interest rate shown reflects the discount rate at time of purchase.

^(a)	Rate shown represents annualized 7-day yield as of May 31, 2011.

^(b)	Aggregate cost for Federal income tax purposes is substantially the same as for book purposes.

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)

WisdomTree Dreyfus Euro Fund (EU)

May 31, 2011


Investments	Principal Amount			Value
TIME DEPOSITS - 48.2%

Banks - 48.2%
Royal Bank of Scotland PLC
0.95%, 6/03/11		1,666,481	EUR	$	2,395,733
UBS AG
0.80%, 6/03/11		1,648,132	EUR		2,369,353

TOTAL TIME DEPOSITS (Cost: $4,663,661)					4,765,086

FOREIGN GOVERNMENT OBLIGATIONS - 43.6%

Sovereign - 43.6%
Belgium Treasury Bill
0.88%, 6/16/11*		450,000	EUR		646,672
Buoni Ordinari del Tes Treasury Bill
1.00%, 6/15/11*		250,000	EUR		359,250
Dutch Treasury Certificate
0.70%, 6/30/11*		650,000	EUR		933,803
European Union
3.25%, 12/09/11		100,000	EUR		145,131
French Treasury Bills
0.76%, 6/16/11*		300,000	EUR		431,119
0.82%, 6/30/11*		350,000	EUR		502,826
German Treasury Bills
0.72%, 6/08/11*		350,000	EUR		503,081
0.80%, 6/29/11*		296,000	EUR		425,261
Spain Letras del Tesoro
1.08%, 6/17/11*		250,000	EUR		359,160

TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost: $4,292,023)					4,306,303

CORPORATE BONDS - 7.3%

Banks - 7.3%
Danske Bank A/S
5.88%, 6/23/11		200,000	EUR		288,242
Landwirtschaftliche Rentenbank
4.00%, 6/15/11		300,000	EUR		431,825

TOTAL CORPORATE BONDS (Cost: $724,753)					720,067

TOTAL INVESTMENTS IN SECURITIES - 99.1% (Cost: $9,680,437)^(a)					9,791,456
Cash, Foreign Currency and Other Assets in Excess of Liabilities - 0.9%					92,017

NET ASSETS - 100.0%				$	9,883,473

Principal amount is reported in U.S. dollars, except for those denoted in the following currency:


EUR		-		euro

*	Interest rate shown reflects the discount rate at time of purchase.

^(a)	Aggregate cost for Federal income tax purposes is substantially the same as for book purposes.

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)

WisdomTree Dreyfus Indian Rupee Fund (ICN)

May 31, 2011


Investments	Principal Amount		Value
U.S. GOVERNMENT OBLIGATIONS - 73.9%

Treasury Bills - 73.9%
U.S. Treasury Bills
0.02%, 6/02/11*	$	7,450,000	$	7,449,988
0.05%, 6/23/11*		4,450,000		4,449,931
0.01%, 6/30/11*		500,000		499,997
0.02%, 7/14/11*		5,500,000		5,499,874
0.04%, 7/28/11*		1,000,000		999,977
0.05%, 8/04/11*		600,000		599,971
0.05%, 8/18/11*		500,000		499,960

TOTAL U.S. GOVERNMENT OBLIGATIONS (Cost: $19,999,589)				19,999,698

MONEY MARKET FUND - 0.7%
Invesco Treasury Fund Private Class, 0.02%^(a) (Cost: $181,862)		181,862		181,862

REPURCHASE AGREEMENT - 26.2%
Citigroup, Inc. tri-party repurchase agreement dated 5/31/11, 0.14% due 6/01/11; Proceeds at maturity - $7,111,114 (fully collateralized by Ginnie Mae, 4.50% due 12/15/39; Market value - $7,466,641) (Cost: $7,111,086)		7,111,086		7,111,086

TOTAL INVESTMENTS IN SECURITIES - 100.8% (Cost: $27,292,537)^(b⁾				27,292,646
Liabilities in Excess of Other Assets - (0.8)%				(220,730	)

NET ASSETS - 100.0%			$	27,071,916

*	Interest rate shown reflects the discount rate at time of purchase.

^(a)	Rate shown represents annualized 7-day yield as of May 31, 2011.

^(b)	Aggregate cost for Federal income tax purposes is substantially the same as for book purposes.

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)

WisdomTree Dreyfus Japanese Yen Fund (JYF)

May 31, 2011


Investments	Principal Amount			Value
TIME DEPOSITS - 47.9%

Banks - 47.9%
Mizuho International PLC
0.05%, 6/03/11		125,014,758	JPY	$	1,538,832
UBS AG
0.05%, 6/03/11		125,014,028	JPY		1,538,824

TOTAL TIME DEPOSITS (Cost: $3,049,689)					3,077,656

FOREIGN GOVERNMENT OBLIGATION - 24.9%

Sovereign - 24.9%
Japan Treasury Bill
0.11%, 7/04/11, Series 182* (Cost: 1,521,576)		130,000,000	JPY		1,600,041

REPURCHASE AGREEMENT - 24.0%
Repurchase agreement dated 5/31/11, 1.00% due 6/01/11 with Royal Bank of Scotland; Proceeds at maturity - 125,031,229 JPY (fully collateralized by Japan Government Bond, 0.80% due 12/20/12; Market value - $1,582,845) (Cost: $1,539,031)		125,030,882	JPY		1,539,031

TOTAL INVESTMENTS IN SECURITIES - 96.8% (Cost: $6,110,296)^(a)					6,216,728
Cash, Foreign Currency and Other Assets in Excess of Liabilities - 3.2%					206,289

NET ASSETS - 100.0%				$	6,423,017

Principal amount is reported in U.S. dollars, except for those denoted in the following currency:

JPY - Japanese yen

*	Interest rate shown reflects the discount rate at time of purchase.

^(a)	Aggregate cost for Federal income tax purposes is substantially the same as for book purposes.

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)

WisdomTree Dreyfus New Zealand Dollar Fund (BNZ)

May 31, 2011


Investments	Principal Amount		Value
U.S. GOVERNMENT OBLIGATIONS - 74.2%

Treasury Bills - 74.2%
U.S. Treasury Bills
0.03%, 6/02/11*	$	13,500,000	$	13,499,977
0.02%, 7/14/11*		4,200,000		4,199,895
0.05%, 8/04/11*		500,000		499,976
0.05%, 8/18/11*		500,000		499,960

TOTAL U.S. GOVERNMENT OBLIGATIONS (Cost: $18,699,795)				18,699,808

MONEY MARKET FUND - 0.7%
Invesco Treasury Fund Private Class, 0.02%^(a) (Cost: $169,356)		169,356		169,356

REPURCHASE AGREEMENT - 19.7%
Citigroup, Inc. tri-party repurchase agreement dated 5/31/11, 0.14% due 6/01/11; Proceeds at maturity - $4,981,606 (fully collateralized by Ginnie Mae, 3.50% due 11/20/40; Market value - $5,230,666) (Cost: $4,981,586)		4,981,586		4,981,586

TOTAL INVESTMENTS IN SECURITIES - 94.6% (Cost: $23,850,737)^(b⁾				23,850,750
Other Assets in Excess of Liabilities - 5.4%				1,353,258

NET ASSETS - 100.0%			$	25,204,008

*	Interest rate shown reflects the discount rate at time of purchase.

^(a)	Rate shown represents annualized 7-day yield as of May 31, 2011.

^(b)	Aggregate cost for Federal income tax purposes is substantially the same as for book purposes.

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)

WisdomTree Dreyfus South African Rand Fund (SZR)

May 31, 2011


Investments	Principal Amount		Value
U.S. GOVERNMENT OBLIGATIONS - 73.0%

Treasury Bills - 73.0%
U.S. Treasury Bills
0.03%, 6/02/11*	$	3,750,000	$	3,749,994
0.05%, 6/23/11*		2,700,000		2,699,958
0.02%, 7/14/11*		1,990,000		1,989,950

TOTAL U.S. GOVERNMENT OBLIGATIONS (Cost: $8,439,871)				8,439,902

MONEY MARKET FUND - 0.8%
Invesco Treasury Fund Private Class, 0.02%^(a) (Cost: $87,904)		87,904		87,904

REPURCHASE AGREEMENT - 26.0%
Citigroup, Inc. tri-party repurchase agreement dated 5/31/11, 0.14% due 6/01/11; Proceeds at maturity - $3,000,182 (fully collateralized by Ginnie Mae, 3.50% due 11/20/40; Market value - $3,150,179) (Cost: $3,000,170)		3,000,170		3,000,170

TOTAL INVESTMENTS IN SECURITIES - 99.8% (Cost: $11,527,945)^(b⁾				11,527,976
Other Assets in Excess of Liabilities - 0.2%				26,753

NET ASSETS - 100.0%			$	11,554,729

*	Interest rate shown reflects the discount rate at time of purchase.

^(a)	Rate shown represents annualized 7-day yield as of May 31, 2011.

^(b)	Aggregate cost for Federal income tax purposes is substantially the same as for book purposes.

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)

WisdomTree Asia Local Debt Fund (ALD)

May 31, 2011


Investments	Principal Amount			Value
FOREIGN GOVERNMENT OBLIGATIONS - 67.7%

Sovereign Bonds - 67.7%
Australian Government Bond
6.25%, 4/15/15, Series 119		6,183,000	AUD	$	6,895,827
China Government Bond
1.00%, 12/01/13		29,500,000	CNY		4,612,708
1.80%, 12/01/15		33,500,000	CNY		5,408,594
2.48%, 12/01/20		17,000,000	CNY		2,734,168
Eurofima
5.63%, 10/24/16		1,080,000	AUD		1,143,806
Hong Kong Government Bond
1.69%, 12/22/14		46,950,000	HKD		6,165,331
1.52%, 12/21/15		49,750,000	HKD		6,441,878
Indonesia Government
11.00%, 12/15/12, Series FR23		32,213,000,000	IDR		4,066,960
7.38%, 9/15/16, Series FR55		69,655,000,000	IDR		8,416,043
Korea Treasury Bond
3.75%, 6/10/13, Series 1306		10,540,000,000	KRW		9,806,248
4.00%, 9/10/15, Series 1509		7,270,000,000	KRW		6,797,287
4.50%, 3/10/15, Series 1503		9,700,000,000	KRW		9,239,372
Malaysian Government
3.21%, 5/31/13, Series 0509		19,090,000	MYR		6,340,385
3.43%, 8/15/14, Series 0211		32,060,000	MYR		10,674,207
3.84%, 8/12/15, Series 0110		18,390,000	MYR		6,201,404
4.01%, 9/15/17, Series 0210		19,610,000	MYR		6,614,644
New Zealand Government
6.00%, 4/15/15, Series 415		13,668,000	NZD		11,998,697
Republic of Philippines
4.95%, 1/15/21^(a)		529,000,000	PHP		12,350,670
7.00%, 1/27/16, Series 7-48		20,950,000	PHP		523,131
Singapore Government Bond
2.50%, 10/01/12		16,490,000	SGD		13,726,821
1.63%, 4/01/13		20,262,000	SGD		16,767,636
Thailand Government Bond
5.25%, 7/13/13		280,420,000	THB		9,609,059
5.25%, 5/12/14		160,000,000	THB		5,545,658
3.13%, 12/11/15		267,164,000	THB		8,686,939
4.13%, 11/18/16		167,190,000	THB		5,679,963

TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost: $181,818,182)					186,447,436

SUPRANATIONAL BONDS - 23.2%

Banks - 23.2%
Asian Development Bank
5.50%, 2/15/16		6,275,000	AUD		6,646,419
European Bank for Reconstruction & Development
5.25%, 8/15/12		192,100,000	INR		4,271,661
6.75%, 2/19/13		14,320,000,000	IDR		1,701,606
European Investment Bank
6.00%, 4/22/14		39,850,000,000	IDR		4,608,977
7.25%, 2/22/15		65,600,000,000	IDR		7,803,522
Kreditanstalt Fuer Wiederaufbau
7.50%, 7/17/12		32,000,000,000	IDR		3,837,338
Inter-American Development Bank
4.75%, 1/10/14		498,650,000	INR		10,867,459
6.25%, 6/22/16		1,360,000	NZD		1,191,133
International Bank for Reconstruction & Development
2.30%, 2/26/13		5,000,000,000	KRW		4,646,713
3.72%, 3/14/13		243,000	NZD		200,226
5.38%, 12/15/14		3,000,000	NZD		2,553,560
International Finance Corp.
5.75%, 6/24/14		4,930,000	AUD		5,328,652
New South Wales Treasury Corp.
6.00%, 4/01/16, Series 16^(a)		4,430,000	AUD		4,849,194
Nordic Investment Bank
6.00%, 4/06/15		4,900,000	AUD		5,288,723

TOTAL SUPRANATIONAL BONDS (Cost: $61,655,869)					63,795,183

U.S. GOVERNMENT OBLIGATIONS - 5.4%

Treasury Bills - 5.4%
U.S. Treasury Bill 0.01%, 6/02/11* (Cost: $14,999,995)	$	15,000,000			14,999,990

MONEY MARKET FUND - 2.6%
Dreyfus Institutional Preferred Money Market Fund, 18%^(b) (Cost: $7,029,291)		7,029,291			7,029,291

INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 2.9%
Dreyfus Institutional Preferred Money Market Fund, 0.18%⁽^c⁾ (Cost: $8,052,200)^(d⁾		8,052,200			8,052,200

TOTAL INVESTMENTS IN SECURITIES - 101.8% (Cost: $273,555,537)^(e)					280,324,100
Liabilities in Excess of Cash, Foreign Currency and Other Assets - 1.8%					(4,900,000	)

NET ASSETS - 100.0%				$	275,424,100

Principal amount is reported in U.S. dollars, except for those denoted in the following currencies:


AUD	-	Australian dollar
CNY	-	Chinese renminbi
HKD	-	Hong Kong dollar
IDR	-	Indonesian rupiah
INR	-	Indian rupee
KRW	-	South Korean won
MYR	-	Malaysian ringgit
NZD	-	New Zealand dollar
PHP	-	Philippines peso
SGD	-	Singapore dollar
THB	-	Thai baht

*	Interest rate shown reflects the discount rate at time of purchase.

^(a)	Security, or portion thereof, was on loan at May 31, 2011.

^(b)	Rate shown represents annualized 7-day yield as of May 31, 2011.

^(c)	Interest rate shown reflects yield as of May 31, 2011.

^(d)	At May 31, 2011, the total market value of the Fund’s securities on loan was $7,866,883 and the total market value of collateral held by the Fund was $8,052,200.

^(e)	Aggregate cost for Federal income tax purposes is substantially the same as for book purposes.

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)

WisdomTree Emerging Markets Local Debt Fund (ELD)

May 31, 2011


Investments	Principal Amount			Value
FOREIGN GOVERNMENT AGENCIES & OBLIGATIONS - 70.8%

Sovereign Bonds - 70.6%
Federal Republic of Brazil
12.50%, 1/05/16^(a)		40,276,000	BRL	$	29,937,184
10.25%, 1/10/28		41,910,000	BRL		28,638,434
Indonesia Government
9.50%, 6/15/15, Series FR27		119,488,000,000	IDR		15,397,328
10.75%, 5/15/16, Series FR30		53,118,000,000	IDR		7,256,409
7.38%, 9/15/16, Series FR55		192,712,000,000	IDR		23,284,364
Korea Treasury Bond
3.75%, 6/10/13, Series 1306		25,820,000,000	KRW		24,022,517
4.50%, 3/10/15, Series 1503		27,403,160,000	KRW		26,101,856
5.00%, 6/10/20, Series 2006		21,158,920,000	KRW		20,834,894
Malaysian Government
3.43%, 8/15/14, Series 0211		92,280,000	MYR		30,724,136
3.84%, 8/12/15, Series 0110		66,983,000	MYR		22,587,745
3.81%, 2/15/17, Series 0207		31,690,000	MYR		10,616,303
4.01%, 9/15/17, Series 0210		75,415,000	MYR		25,438,215
4.38%, 11/29/19, Series 0902		49,282,000	MYR		16,908,416
Mexican Bonos Desarr
7.75%, 12/14/17, Series M10		245,607,000	MXN		22,729,069
8.50%, 12/13/18, Series M10		212,314,000	MXN		20,460,153
9.50%, 12/18/14, Series MI10		70,785,000	MXN		6,821,545
Nota do Tesouro Nacional
10.00%, 1/01/13		6,390,000	BRL		3,896,698
Philippine Government Bond
7.00%, 1/27/16, Series 7-48		94,820,000	PHP		2,367,699
7.50%, 3/30/16, Series 1040		30,000,000	PHP		760,063
Poland Government Bond
5.75%, 4/25/14, Series 0414		50,280,000	PLN		18,551,007
5.50%, 10/25/19, Series 1019		46,348,000	PLN		16,361,599
5.25%, 10/25/20, Series 1020		52,595,000	PLN		18,205,203
5.75%, 9/23/22, Series 0922		48,088,000	PLN		17,026,200
Republic of Chile
5.50%, 8/05/20		15,150,500,000	CLP		32,689,773
Republic of Colombia
12.00%, 10/22/15		30,633,000,000	COP		22,201,115
7.75%, 4/14/21		21,392,000,000	COP		13,913,284
Republic of Peru
8.60%, 8/12/17		36,942,000	PEN		14,946,034
7.84%, 8/12/20		54,740,000	PEN		21,426,727
Republic of Philippines
4.95%, 1/15/21^(a)		1,029,000,000	PHP		24,024,272
Republic of South Africa
7.25%, 1/15/20, Series R207		131,814,000	ZAR		18,165,583
10.50%, 12/21/26, Series R186		156,349,000	ZAR		26,804,125
Thailand Government Bond
5.25%, 5/12/14		721,185,000	THB		24,996,534
3.13%, 12/11/15		337,532,000	THB		10,974,981
4.13%, 11/18/16		517,290,000	THB		17,573,946
5.13%, 3/13/18		437,345,000	THB		15,735,081
Turkey Government Bond
10.00%, 6/17/15		34,342,000	TRY		22,102,853
10.50%, 1/15/20		27,540,000	TRY		18,572,005

Total Sovereign Bonds					693,053,350

Sovereign Agency - 0.2%
Kommunekredit
8.00%, 7/05/13		19,000,000	MXN		1,709,485

TOTAL FOREIGN GOVERNMENT AGENCIES & OBLIGATIONS (Cost: $675,274,898)					694,762,835

SUPRANATIONAL BONDS - 20.7%

Banks - 20.7%
Asian Development Bank
12.00%, 2/21/12		1,680,000	TRY	$	1,083,858
13.50%, 6/27/12		550,000	TRY		363,856
9.25%, 4/30/13		14,180,000	BRL		9,055,006
6.55%, 1/28/15		43,850,000	MXN		3,790,415
6.50%, 9/15/15		5,660,000	ZAR		776,046
European Bank for Reconstruction & Development
8.10%, 10/20/11		500,000	TRY		312,721
6.00%, 2/14/12		11,850,000	RUB		428,537
9.25%, 9/10/12		14,205,000	BRL		9,035,641
8.00%, 2/18/13		59,290,000	ZAR		8,875,485
6.75%, 2/19/13		14,620,000,000	IDR		1,737,254
9.50%, 11/06/13		2,870,000	BRL		1,851,283
6.50%, 2/09/15		51,700,000	RUB		1,898,237
6.75%, 5/12/17		242,100,000	RUB		8,701,728
European Investment Bank
6.25%, 6/14/12		16,300,000	RUB		592,155
4.15%, 1/25/13		99,600,000	PHP		2,402,050
11.25%, 2/14/13		3,000,000	BRL		1,976,069
6.25%, 3/11/13		221,150,000	RUB		8,036,984
10.00%, 9/10/13		4,125,000	TRY		2,695,785
8.00%, 10/21/13		37,750,000	ZAR		5,642,902
8.50%, 11/04/14		8,890,000	ZAR		1,338,794
9.57%, 3/02/15*^(b⁾		4,555,000	TRY		2,104,012
9.63%, 4/01/15		11,100,000	TRY		7,246,227
5.00%, 8/03/15		87,000,000	PHP		2,161,526
6.50%, 12/15/15		88,150,000	RUB		3,193,954
9.75%, 3/30/16*^(b⁾		1,800,000	TRY		756,478
6.50%, 9/30/16		106,800,000	RUB		3,813,802
6.75%, 6/13/17		10,190,000	RUB		369,672
Inter-American Development Bank
7.75%, 1/08/13		15,550,000	RUB		576,538
9.50%, 1/06/14		4,240,000	BRL		2,727,368
6.50%, 6/04/14		18,930,000,000	IDR		2,218,462
8.00%, 1/26/16		24,692,000	MXN		2,329,368
8.50%, 7/28/16		12,579,000	ZAR		1,829,158
7.50%, 12/05/24		130,611,000	MXN		11,259,890
International Bank for Reconstruction & Development
3.25%, 1/24/13		844,000,000	CLP		1,788,748
2.50%, 2/21/13		716,000,000	CLP		1,492,155
5.00%, 7/01/13		84,250,000	MXN		7,341,826
6.50%, 9/11/13		176,555,000	MXN		15,816,371
4.88%, 9/16/13		52,300,000	RUB		1,855,942
7.50%, 10/23/13		10,700,000	RUB		397,871
6.25%, 12/11/13		74,350,000	RUB		2,719,171
5.25%, 11/24/14		11,200,000	RUB		398,923
8.75%, 3/01/17		37,080,000	ZAR		5,649,805
7.50%, 3/02/17		17,500,000	RUB		664,964
10.00%, 3/02/17		3,875,000	TRY		2,592,481
13.63%, 5/09/17		1,990,000	TRY		1,528,682
7.50%, 3/05/20		38,810,000	MXN		3,655,108
International Finance Corp.
11.25%, 7/17/12		12,120,000	TRY		7,918,430
17.00%, 7/17/12		1,350,000	TRY		930,430
9.25%, 9/16/13		12,965,000	BRL		8,294,686
8.25%, 1/15/14		11,810,000	BRL		7,406,569
7.38%, 3/04/15		6,550,000	ZAR		961,905
6.00%, 1/28/16		90,560,000	MXN		7,903,358

See Notes to Schedule of Investments.

Schedule of Investments (unaudited) (continued)

WisdomTree Emerging Markets Local Debt Fund (ELD)

May 31, 2011


Investments	Principal Amount			Value
Kreditanstalt Fuer Wiederaufbau
6.35%, 5/22/12		20,000,000	RUB		741,134
7.50%, 7/17/12		47,260,000,000	IDR		5,667,269
7.25%, 12/17/12		690,000	TRY		431,930
7.63%, 11/04/14		570,000	TRY		350,826
Landwirtschaftliche Rentenbank
10.13%, 2/05/14		770,000	TRY		504,181
8.50%, 2/22/16		27,550,000	MXN		2,584,534
Nordic Investment Bank
10.00%, 5/14/13		4,085,000	BRL		2,649,326

TOTAL SUPRANATIONAL BONDS (Cost: $197,382,891)					203,427,886

INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 1.0%
Dreyfus Institutional Preferred Money Market Fund, 0.18%^(c) (Cost: $9,500,000)^(d)		9,500,000			9,500,000

REPURCHASE AGREEMENT - 5.1%
Citigroup, Inc. tri-party repurchase agreement dated 5/31/11, 0.14% due 6/01/11; Proceeds at maturity - $50,433,988 (fully collateralized by Fannie Mae, 4.50% - 5.50% due 2/01/38 - 10/01/40 and Ginnie Mae, 5.00% - 5.50% due 11/15/38 - 6/15/40; Market value - $52,955,482)
(Cost: $50,433,792)		50,433,792			50,433,792

TOTAL INVESTMENTS IN SECURITIES - 97.6% (Cost: $932,591,581)^(e⁾					958,124,513
Cash, Foreign Currency and Other Assets in Excess of Liabilities - 2.4%					23,093,824

NET ASSETS - 100.0%				$	981,218,337

Principal amount is reported in U.S. dollars, except for those denoted in the following currencies:


BRL	-	Brazilian real
CLP	-	Chilean peso
COP	-	Colombian peso
IDR	-	Indonesian rupiah
KRW	-	South Korean won
MXN	-	Mexican peso
MYR	-	Malaysian ringgit
PEN	-	Peruvian nuevo sol
PHP	-	Philippines peso
PLN	-	Polish zloty
RUB	-	Russian ruble
THB	-	Thai baht
TRY	-	Turkish new lira
ZAR	-	South African rand

*	Interest rate shown reflects the discount rate at time of purchase.

^(a)	Security, or portion thereof, was on loan at May 31, 2011.

^(b)	Represents a zero coupon bond. Rate shown reflects the effective yield at reporting date.

^(c)	Interest rate shown reflects yield as of May 31, 2011.

^(d)	At May 31, 2011, the total market value of the Fund’s securities on loan was $9,291,270 and the total market value of collateral held by the Fund was $9,500,000.

^(e)	Aggregate cost for Federal income tax purposes is substantially the same as for book purposes.

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)

WisdomTree Managed Futures Strategy Fund (WDTI) (consolidated)

May 31, 2011


Investments	Principal Amount		Value
U.S. GOVERNMENT OBLIGATIONS - 86.9%

Treasury Bills - 86.9%
U.S. Treasury Bills
0.04%, 6/16/11*	$	1,765,000	$	1,764,974
0.02%, 7/14/11*		106,400,000		106,397,355
0.05%, 9/22/11*		105,000		104,983

TOTAL U.S. GOVERNMENT OBLIGATIONS (Cost: $108,267,347)				108,267,312

MONEY MARKET FUND - 9.7%
Dreyfus Institutional Preferred Money Market Fund, 0.18%^(a) (Cost: $12,120,432)		12,120,432		12,120,432

TOTAL INVESTMENTS IN SECURITIES - 96.6% (Cost: $120,387,779)^(b⁾				120,387,744
Cash and Other Assets in Excess of Liabilities - 3.4%				4,211,317

NET ASSETS - 100.0%			$	124,599,061

*	Interest rate shown reflects the discount rate at time of purchase.

^(a)	Rate shown represents annualized 7-day yield as of May 31, 2011.

^(b)	Aggregate cost for Federal income tax purposes is substantially the same as for book purposes.

See Notes to Schedule of Investments.

Notes to Schedule of Investments (unaudited)

1. ORGANIZATION

WisdomTree Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Trust was established as a Delaware statutory trust pursuant to a Trust Instrument dated December 15, 2005. As of May 31, 2011, the Trust offered 46 investment funds. These notes relate only to the Schedule of Investments for the WisdomTree Dreyfus Brazilian Real Fund (“Brazilian Real Fund”), WisdomTree Dreyfus Chinese Yuan Fund (“Chinese Yuan Fund”), WisdomTree Dreyfus Commodity Currency Fund (“Commodity Currency Fund”), WisdomTree Dreyfus Emerging Currency Fund (“Emerging Currency Fund”), WisdomTree Dreyfus Euro Fund (“Euro Fund”), WisdomTree Dreyfus Indian Rupee Fund (“Indian Rupee Fund”), WisdomTree Dreyfus Japanese Yen Fund (“Japanese Yen Fund”), WisdomTree Dreyfus New Zealand Dollar Fund (“New Zealand Dollar Fund”), WisdomTree Dreyfus South African Rand Fund (“South African Rand Fund”), WisdomTree Emerging Markets Local Debt Fund (“Emerging Markets Local Debt Fund”), WisdomTree Asia Local Debt Fund (“Asia Local Debt Fund”), WisdomTree Managed Futures Strategy Fund (“Managed Futures Strategy Fund”) and (each a “Fund,” collectively, the “Funds”). The Funds commenced operations as follows: the Brazilian Real Fund, the Chinese Yuan Fund, the Euro Fund and the Indian Rupee Fund commenced operations on May 14, 2008; the Japanese Yen Fund commenced operations on May 21, 2008; the New Zealand Dollar Fund and South African Rand Fund commenced operations on June 25, 2008; the Emerging Currency Fund commenced operations on May 6, 2009; the Emerging Markets Local Debt Fund commenced operations on August 9, 2010, the Commodity Currency Fund commenced operations on September 24, 2010, the Managed Futures Strategy Fund commenced operations on January, 5, 2011 and Asia Local Debt Fund commenced operations on March 17, 2011 .

2. SIGNIFICANT ACCOUNTING POLICIES

The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“Codification”) has become the exclusive reference of authoritative U.S. generally accepted accounting principles (“GAAP”) recognized by the FASB to be applied by non-governmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal laws are also sources of authoritative GAAP for SEC registrants. The Codification has superseded all existing non-SEC accounting and reporting standards.

Guarantees - In the normal course of business the Funds may enter into contracts that contain a variety of representations or that provide indemnification for certain liabilities. The Funds’ maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Funds have not had prior claims or losses pursuant to these contracts and expect the risk of loss to be remote.

Investment Valuation - The net asset value (“NAV”) of each Fund’s shares is calculated each day the national securities exchanges are open for trading as of the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. Eastern time. NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding. In calculating a Fund’s NAV, Fund investments generally are valued using market valuations. Short-term debt securities with remaining maturities of 60 days or less generally are valued on the basis of amortized cost which approximates fair value. U.S. fixed income assets may be valued as of the announced closing time for such securities on any day that the Securities Industry and Financial Markets Association announces an early closing time. Forward foreign currency contracts are valued daily using WM/Reuters closing spot and forward rates as of 4:00 p.m. London time for Europe and the Americas and Tullett Prebon closing spot and forward rates as of 2:00 p.m. Singapore time for Asia. The value of any assets or liabilities denominated in a currency other than the U.S. dollar is converted into U.S. dollars using an exchange rate prevailing on the respective dates of such transations. In certain instances, such as when reliable market valuations are not readily available or are not deemed to reflect current market values, a Fund’s investments will be valued in accordance with the Fund’s pricing policy and procedures approved by the Board of Trustees. For these purposes, a price based on amortized cost is considered a market valuation. Securities that may be valued using fair value pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next NAV calculation time that may materially affect the value of a Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its NAV may differ from quoted or published prices for the same securities. Each Fund may invest in money market funds which are valued at NAV.

Fair Value Measurement - In accordance with Codification Topic 820 (“ASC 820”), Fair Value Measurements and Disclosures, fair value is defined as the price that each Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment. ASC 820 established a three-tier hierarchy to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classifications of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk - for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the

Notes to Schedule of Investments (unaudited)(continued)

inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The three-tier hierarchy of inputs is summarized in the three broad levels listed below:

Level 1

– quoted prices in active markets for identical securities

Level 2

– other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3

– significant unobservable inputs (including each Fund’s assumptions in determining the fair value of investments)

Investments that use Level 2 or Level 3 inputs may include, but are not limited to: (i) an unlisted security related to corporate actions; (ii) a restricted security (e.g., one that may not be publicly sold without registration under the Securities Act of 1933, as amended); (iii) a security whose trading has been suspended or which has been de-listed from its primary trading exchange; (iv) a security that is thinly traded; (v) a security in default or bankruptcy proceedings for which there is no current market quotation; (vi) a security affected by currency controls or restrictions; and (vii) a security affected by a significant event (e.g., an event that occurs after the close of the markets on which the security is traded but before the time as of which a Fund’s NAV is computed and that may materially affect the value of the Fund’s investments).

The inputs or methodology used for valuation are not necessarily an indication of the risk associated with investing in those investments.

The following is a summary of the inputs used as of November 30, 2010 in valuing each Fund’s assets carried at fair value:


Brazilian Real Fund	Level 1		Level 2			Level 3
Investments in Securities
Money Market Fund	$	—	$	1,981,814		$	—
Repurchase Agreement		—		44,647,824			—
U.S. Government Treasury		—		131,047,681			—

Total		—		177,677,319			—
Unrealized Appreciation on Foreign Currency Contracts		—		2,252,994			—
Unrealized Depreciation on Foreign Currency Contracts		—		(4,353,636	)		—

Total - Net	$	—	$	175,576,677		$	—


Chinese Yuan Fund	Level 1		Level 2			Level 3
Investments in Securities
Money Market Fund	$	—	$	3,373,997		$	—
Repurchase Agreement		—		197,812,068			—
U.S. Government Treasury		—		463,493,900			—

Total		—		664,679,965			—
Unrealized Appreciation on Foreign Currency Contracts		—		4,570,294			—
Unrealized Depreciation on Foreign Currency Contracts		—		(615,634	)		—

Total - Net	$	—	$	668,634,625		$	—


Dreyfus Commodity Currency Fund	Level 1		Level 2			Level 3
Investments in Securities
Money Market Fund	$	—	$	751,881		$	—
Repurchase Agreement		—		45,020,301			—
U.S. Government Treasury		—		94,798,343			—

Total				140,570,525
Unrealized Appreciation on Foreign Currency Contracts		—		8,885,825			—
Unrealized Depreciation on Foreign Currency Contracts		—		(3,338,545	)		—

Total - Net	$	—	$	146,117,805		$	—


Emerging Currency Fund	Level 1		Level 2			Level 3
Investments in Securities
Money Market Fund	$	—	$	3,755,177		$	—
Repurchase Agreement		—		164,889,122			—
U.S. Government Treasury		—		414,692,579			—

Total				583,336,878
Unrealized Appreciation on Foreign Currency Contracts		—		1,959,358			—
Unrealized Depreciation on Foreign Currency Contracts		—		(4,332,127	)		—

Total - Net	$	—	$	580,964,109		$	—


Euro Fund	Level 1		Level 2			Level 3
Investments in Securities
Corporate Bonds	$	—	$	720,067		$	—
Foreign Government Obligations		—		4,306,303			—
Time Deposits		—		4,765,086			—

Total	$	—	$	9,791,456		$	—

Notes to Schedule of Investments (unaudited)(continued)


Indian Rupee Fund	Level 1		Level 2			Level 3
Investments in Securities
Money Market Fund	$	—	$	181,862		$	—
Repurchase Agreement		—		7,111,086			—
U.S. Government Treasury		—		19,999,698			—

Total		—		27,292,646			—
Unrealized Depreciation on Foreign Currency Contracts		—		(210,301	)		—

Total - Net	$	—	$	27,082,345		$	—


Japanese Yen Fund	Level 1		Level 2			Level 3
Investments in Securities
Foreign Government Obligations	$	—	$	1,600,041		$	—
Repurchase Agreement		—		1,539,031			—
Time Deposits		—		3,077,656			—

Total	$	—	$	6,216,728		$	—


New Zealand Dollar Fund	Level 1		Level 2			Level 3
Investments in Securities
Money Market Fund	$	—	$	169,356		$	—
Repurchase Agreement		—		4,981,586			—
U.S. Government Treasury		—		18,699,808			—

Total		—		23,850,750			—
Unrealized Appreciation on Foreign Currency Contracts		—		1,738,821			—
Unrealized Depreciation on Foreign Currency Contracts		—		(375,923	)		—

Total - Net	$	—	$	25,213,648		$	—


South African Rand Fund	Level 1		Level 2			Level 3
Investments in Securities
Money Market Fund	$	—	$	87,904		$	—
Repurchase Agreement		—		3,000,170			—
U.S. Government Treasury		—		8,439,902			—

Total		—		11,527,976			—
Unrealized Appreciation on Foreign Currency Contracts		—		65,211			—
Unrealized Depreciation on Foreign Currency Contracts		—		(34,407	)		—

Total - Net	$	—	$	11,558,780		$	—


Asia Local Debt Fund	Level 1		Level 2			Level 3
Investments in Securities
Foreign Government Obligations	$	—	$	186,447,436		$	—
Money Market Fund		—		15,081,491			—
Supranational Bonds		—		63,795,183			—
U.S. Government Obligations		—		14,999,990			—

Total				280,324,100
Unrealized Appreciation on Foreign Currency Contracts		—		31,769			—
Unrealized Depreciation on Foreign Currency Contracts		—		(97,170	)		—

Total - Net	$	—	$	280,258,699		$	—

Notes to Schedule of Investments (unaudited)(continued)


Emerging Markets Local Debt Fund	Level 1		Level 2			Level 3
Investments in Securities
Foreign Government Agencies & Obligations	$	—	$	694,762,835		$	—
Money Market Fund		—		9,500,000			—
Repurchase Agreement		—		50,433,792			—
Supranational Bonds		—		203,427,886			—

Total				958,124,513
Unrealized Appreciation on Foreign Currency Contracts		—		757,363			—
Unrealized Depreciation on Foreign Currency Contracts		—		(493	)		—
Unrealized Appreciation on Swap Contracts				1,785,630
Unrealized Depreciation on Swap Contracts				(26,969	)

Total - Net	$	—	$	960,640,044		$	—


Managed Futures Strategy Fund (consolidated)	Level 1		Level 2			Level 3
Investments in Securities
Money Market Fund	$	—	$	12,120,432		$	—
U.S. Government Treasury		—		108,267,312			—

Total		—		120,387,744			—
Unrealized Appreciation on Foreign Currency Contracts		—		161,985			—
Unrealized Depreciation on Foreign Currency Contracts		—		(569,294	)		—
Unrealized Appreciation on Swap Contracts		—		969,079			—
Unrealized Appreciation on Variation Margin on Futures Contracts		—		659,383			—
Unrealized Depreciation on Variation Margin on Futures Contracts		—		(37,083	)		—

Total - Net	$	—	$	121,571,814		$	—

In January 2010, FASB issued Accounting Standards Update No. 2010-06 “Improving Disclosures about Fair Value Measurements (“ASU 2010-06”).” ASU 2010-06 will require reporting entities to make new disclosures about amounts and reasons for significant transfers in and out of Level 1 and Level 2 fair value measurements, as well as inputs and valuation techniques used to measure fair value for both recurring and nonrecurring fair value measurements that fall in either Level 2 or Level 3, have been adopted by the Funds. No significant transfers between Level 1 or Level 2 fair value measurements occurred at May 31, 2011. ASU 2010-06 will also require information on purchases and sales, issuances and settlements on a gross basis in the reconciliation of activity in Level 3 fair value measurements. The new and revised disclosures are required to be implemented for fiscal years beginning after December 15, 2009, except for the disclosures surrounding purchases, sales, issuances and settlements on a gross basis in the reconciliation of Level 3 fair value measurements, which are effective for fiscal years beginning after December 15, 2010. Management is currently evaluating the impact the adoption of ASU 2010-06 may have on the Funds’ financial statement disclosures.

Derivative and Hedging Disclosure - Codification Topic 815 (“ASC 815”), Derivatives and Hedging, requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative agreements. The application of this disclosure is effective for fiscal years beginning November 15, 2008 and interim periods within those fiscal years. The Funds have invested in derivatives, specifically forward foreign currency contracts and swaps during the period ended May 31, 2011 which are detailed in the forward foreign currency and swap agreement contract table herein. The volume of the derivatives that is presented is consistent with the derivative activity during the period ended May 31, 2011. The Funds’ management is not aware of any credit-risk contingent feature on the forward foreign currency contracts held by the Funds.

Investment Transactions and Investment Income - Investment transactions are recorded as of the date that the securities are purchased or sold (trade date).

Foreign Currency Translation - The accounting records of the Funds are maintained in U.S. dollars. Foreign currencies, as well as investment securities and other assets and liabilities denominated in foreign currencies, are translated into U.S. dollars using exchange rates deemed appropriate by the investment adviser.

Repurchase Agreements - Each Fund’s custodian or a third party custodian under tri-party repurchase agreements may take possession of the collateral pledged for investments in repurchase agreements. The underlying collateral is valued on a daily basis at fair value to ensure that the value, including accrued interest, is at least equal to the repurchase price. In the event of default of the obligation to repurchase, a Fund has the right to liquidate the collateral and apply the proceeds in satisfaction of the obligations. Under certain circumstances, in the event of default or bankruptcy by the other party to the agreement, realization and/or retention of the collateral may be subject to legal proceedings.

Forward Currency Contracts - A forward foreign currency contract (“Forward Contract”) involves an obligation to purchase or sell a specific currency at a future date, which may be any fixed number of days from the date of the contract agreed upon by the parties, at a price set at the time of the contract. These contracts are principally traded in the inter-bank

Notes to Schedule of Investments (unaudited)(continued)

market conducted directly between currency traders (usually large, commercial banks) and their customers. A forward contract generally has no margin deposit requirement, and no commissions are charged at any stage for trades.

Risks may arise upon entering into forward contracts from the potential inability of counterparties to meet the terms of their contracts and from unanticipated movements in the value of foreign currencies relative to the U.S. dollar or each other.

Fluctuations in the value of open forward contracts are recorded for book purposes as unrealized gains or losses on forward contracts by the Funds. Realized gains and losses on forward contracts include net gains or losses recognized by the Funds on contracts which have matured. Each Fund may enter into forward contracts to manage its foreign currency exposure or to facilitate settlement of foreign currency denominated portfolio transactions. A Fund may invest in both forward currency contracts and U.S. dollar denominated money market securities in an attempt to create a “synthetic” investment in a foreign currency denominated instrument.

The following forward contracts were open as of May 31, 2011:


Fund Name	Settlement Date			Contracts To Deliver			In Exchange For		Unrealized Gain (Loss)
Brazilian Real Fund		6/02/11	BRL		9,107,582	USD		5,608,117	$	(141,075	)
		6/02/11	BRL		9,107,582	USD		5,618,496		(130,696	)
		6/02/11	BRL		60,573,618	USD		37,184,541		(1,052,758	)
		6/02/11	BRL		60,573,617	USD		37,161,728		(1,075,571	)
		6/02/11	BRL		69,681,199	USD		44,104,816		118,326
		6/02/11	BRL		69,681,200	USD		44,104,817		118,326
		6/02/11	USD		44,329,282	BRL		69,681,199		(342,792	)
		6/02/11	USD		44,267,327	BRL		69,681,200		(280,836	)
		6/02/11	USD		5,764,657	BRL		9,107,582		(15,465	)
		6/02/11	USD		38,340,160	BRL		60,573,618		(102,860	)
		6/02/11	USD		5,764,657	BRL		9,107,582		(15,466	)
		6/02/11	USD		38,340,159	BRL		60,573,617		(102,860	)
		7/05/11	USD		37,200,778	BRL		60,944,174		997,959
		7/05/11	USD		37,180,351	BRL		60,944,173		1,018,384
		8/02/11	USD		39,411,564	BRL		62,652,563		(384,210	)
		8/02/11	USD		49,999,860	BRL		79,239,778		(640,045	)
		8/02/11	USD		5,712,239	BRL		9,160,432		(6,049	)
		8/02/11	USD		619,758	BRL		985,106		(6,119	)
		8/02/11	USD		5,756,484	BRL		9,149,932		(56,835	)

									$	(2,100,642	)


Chinese Yuan Fund		8/03/11	CNY		32,832,650	USD		5,059,116	$	(18,128	)
		8/03/11	USD		173,704,237	CNY		1,128,556,428		815,832
		9/30/11	CNY		14,676,261	USD		2,278,923		1,768
		9/30/11	CNY		136,382	USD		21,092		(69	)
		9/30/11	CNY		99,619,737	USD		15,225,392		(231,511	)
		9/30/11	USD		47,175,908	CNY		309,709,834		878,371
		9/30/11	USD		5,144,270	CNY		33,129,100		(3,991	)
		9/30/11	USD		5,118,414	CNY		33,095,667		16,677
		9/30/11	USD		15,240,823	CNY		99,339,687		172,626
		9/30/11	USD		5,080,274	CNY		33,113,229		57,542
		9/30/11	USD		5,123,451	CNY		33,087,249		10,334
		9/30/11	USD		15,332,918	CNY		99,180,980		55,907
		9/30/11	USD		5,122,208	CNY		33,086,902		11,524
		9/30/11	USD		15,309,313	CNY		99,204,348		83,138
		9/30/11	USD		5,117,499	CNY		33,089,750		16,674
		9/30/11	USD		10,245,378	CNY		66,169,776		21,460
		9/30/11	USD		38,795,598	CNY		250,891,131		132,428
		12/07/11	CNY		9,005,741	USD		1,387,206		(15,573	)
		12/07/11	CNY		133,639	USD		20,721		(95	)
		12/07/11	CNY		2,083,128	USD		323,291		(1,187	)
		12/07/11	CNY		924,382	USD		143,906		(80	)
		12/07/11	CNY		1,886,947	USD		295,297		1,377
		12/07/11	USD		79,175,809	CNY		514,761,520		1,006,020
		12/07/11	USD		5,081,867	CNY		32,869,518		38,053
		12/07/11	USD		70,732,792	CNY		458,985,085		761,020
		12/07/11	USD		10,146,306	CNY		65,707,480		88,619
		12/07/11	USD		151,937	CNY		976,198		120
		12/07/11	USD		5,129,181	CNY		32,775,468		(23,910	)
		2/21/12	USD		116,429,057	CNY		747,241,688		398,293
		4/25/12	CNY		1,104,179	USD		174,767		1,543
		4/25/12	CNY		957,914	USD		151,079		801
		4/25/12	USD		25,643,291	CNY		162,834,896		(97,714	)
		4/25/12	USD		89,901	CNY		570,869		(343	)
		4/25/12	USD		5,147,099	CNY		32,519,374		(45,452	)
		4/25/12	USD		101,319	CNY		640,642		(815	)
		4/25/12	USD		15,433,331	CNY		97,584,949		(124,181	)
		4/25/12	USD		5,126,127	CNY		32,502,207		(27,173	)
		4/25/12	USD		5,129,376	CNY		32,534,605		(25,339	)
		4/25/12	USD		14,572	CNY		92,430		(72	)
		4/25/12	USD		29,320	CNY		187,309		65
		4/25/12	USD		27,880	CNY		178,365		101

									$	3,954,660


Commodity Currency Fund		6/02/11	AUD		659,319	USD		668,207	$	(31,378	)
		6/02/11	AUD		17,465,387	USD		18,410,264		(121,779	)
		6/02/11	BRL		28,231,749	USD		17,811,829		(57,498	)
		6/02/11	BRL		14,115,875	USD		8,934,664		—
		6/02/11	BRL		14,115,874	USD		8,934,663		—
		6/02/11	CAD		648,767	USD		664,550		(5,076	)
		6/02/11	CAD		17,203,138	USD		17,626,166		(130,079	)
		6/02/11	CLP		311,921,378	USD		645,466		(25,145	)
		6/02/11	CLP		8,266,103,339	USD		17,578,104		(193,494	)

Notes to Schedule of Investments (unaudited)(continued)


Fund Name	Settlement Date			Contracts To Deliver			In Exchange For		Unrealized Gain (Loss)
		6/02/11	CLP		311,846,680	USD		670,451		—
		6/02/11	CLP		7,485,329,465	USD		16,092,984		—
		6/02/11	CLP		156,289,357	USD		336,012		—
		6/02/11	CLP		155,887,294	USD		335,148		—
		6/02/11	CLP		156,750,543	USD		337,004		—
		6/02/11	NZD		880,754	USD		658,910		(65,598	)
		6/02/11	NZD		23,343,863	USD		18,658,750		(543,911	)
		6/02/11	RUB		19,183,192	USD		674,681		(10,689	)
		6/02/11	RUB		508,375,792	USD		17,869,096		(293,961	)
		6/02/11	USD		15,447,168	AUD		15,495,281		994,448
		6/02/11	USD		331,695	AUD		329,727		18,169
		6/02/11	USD		329,312	AUD		329,263		20,059
		6/02/11	USD		327,912	AUD		329,285		21,483
		6/02/11	USD		327,635	AUD		329,097		21,561
		6/02/11	USD		351,288	AUD		328,417		(2,814	)
		6/02/11	USD		349,334	AUD		327,796		(1,519	)
		6/02/11	USD		719,024	AUD		655,840		(23,130	)
		6/02/11	USD		8,980,135	BRL		14,115,874		(45,472	)
		6/02/11	USD		8,967,585	BRL		14,115,875		(32,921	)
		6/02/11	USD		17,869,327	BRL		28,231,749		—
		6/02/11	USD		15,469,275	CAD		15,244,197		265,046
		6/02/11	USD		333,173	CAD		324,717		1,984
		6/02/11	USD		334,117	CAD		324,651		973
		6/02/11	USD		332,066	CAD		324,877		3,256
		6/02/11	USD		332,156	CAD		325,153		3,452
		6/02/11	USD		343,011	CAD		326,472		(6,042	)
		6/02/11	USD		342,278	CAD		326,994		(4,771	)
		6/02/11	USD		690,123	CAD		654,844		(14,225	)
		6/02/11	USD		15,242,516	CLP		7,329,059,104		514,496
		6/02/11	USD		325,548	CLP		156,230,705		10,338
		6/02/11	USD		325,070	CLP		156,147,605		10,637
		6/02/11	USD		323,522	CLP		156,293,611		12,499
		6/02/11	USD		322,519	CLP		156,270,361		13,452
		6/02/11	USD		333,524	CLP		156,289,357		2,488
		6/02/11	USD		332,028	CLP		155,887,294		3,119
		6/02/11	USD		673,899	CLP		311,846,680		(3,448	)
		6/02/11	USD		17,771,598	CLP		8,266,103,339		—
		6/02/11	USD		15,376,003	NZD		20,697,829		1,650,021
		6/02/11	USD		325,607	NZD		440,658		36,879
		6/02/11	USD		323,583	NZD		440,159		38,492
		6/02/11	USD		324,269	NZD		440,236		37,869
		6/02/11	USD		321,161	NZD		440,382		41,097
		6/02/11	USD		352,058	NZD		440,953		10,670
		6/02/11	USD		351,618	NZD		441,194		11,308
		6/02/11	USD		714,955	NZD		883,206		11,570
		6/02/11	USD		15,415,695	RUB		450,824,291		691,184
		6/02/11	USD		335,730	RUB		9,591,463		6,950
		6/02/11	USD		335,884	RUB		9,582,220		6,466
		6/02/11	USD		332,291	RUB		9,586,920		10,227
		6/02/11	USD		336,837	RUB		9,586,896		5,680
		6/02/11	USD		342,411	RUB		9,597,794		495
		6/02/11	USD		342,950	RUB		9,592,316		(240	)
		6/02/11	USD		700,751	RUB		19,197,084		(14,885	)
		6/02/11	USD		15,432,533	ZAR		110,607,280		624,152
		6/02/11	USD		338,668	ZAR		2,353,199		2,942
		6/02/11	USD		337,614	ZAR		2,349,269		3,426
		6/02/11	USD		336,142	ZAR		2,349,096		4,872
		6/02/11	USD		334,919	ZAR		2,346,264		5,685
		6/02/11	USD		346,860	ZAR		2,338,874		(7,329	)
		6/02/11	USD		343,667	ZAR		2,324,666		(6,199	)
		6/02/11	USD		705,900	ZAR		4,649,236		(30,978	)
		6/02/11	ZAR		4,706,078	USD		679,941		(3,233	)
		6/02/11	ZAR		124,611,806	USD		17,715,135		(374,565	)
		6/03/11	NOK		3,690,560	USD		663,674		(18,951	)
		6/03/11	NOK		97,846,758	USD		17,621,791		(476,445	)
		6/03/11	USD		15,373,372	NOK		86,723,497		667,449
		6/03/11	USD		330,757	NOK		1,846,714		10,821
		6/03/11	USD		330,120	NOK		1,845,550		11,243
		6/03/11	USD		325,807	NOK		1,846,445		15,721
		6/03/11	USD		330,940	NOK		1,847,158		10,719
		6/03/11	USD		344,889	NOK		1,851,034		(2,512	)
		6/03/11	USD		345,545	NOK		1,857,746		(1,927	)
		6/03/11	USD		711,191	NOK		3,719,174		(23,274	)
		8/02/11	BRL		29,668,462	USD		18,013,638		(765,058	)

Notes to Schedule of Investments (unaudited)(continued)


Fund Name	Settlement Date			Contracts To Deliver			In Exchange For		Unrealized Gain (Loss)
		8/02/11	USD		17,861,861	BRL		28,561,115		215,939
		8/02/11	USD		697,981	BRL		1,107,347		2,916
		8/26/11	USD		17,848,370	AUD		17,117,455		193,531
		8/26/11	USD		17,912,343	BRL		29,657,467		456,999
		8/26/11	USD		17,949,268	CAD		17,554,743		132,394
		8/26/11	USD		17,973,123	CLP		8,527,347,984		172,085
		8/26/11	USD		18,162,357	NZD		22,854,069		530,776
		8/26/11	USD		17,967,466	NOK		100,287,209		520,450
		8/26/11	USD		17,790,252	RUB		510,473,502		291,954
		8/26/11	USD		17,696,004	ZAR		126,030,939		535,384

									$	5,547,280


Emerging Currency Fund		6/02/11	BRL		68,845,657	USD		43,753,198	$	294,146
		6/02/11	BRL		916,715	USD		580,236		1,557
		6/02/11	BRL		305,974	USD		193,667		520
		6/02/11	BRL		67,622,968	USD		42,802,056		114,831
		6/02/11	USD		42,675,103	BRL		67,622,968		12,122
		6/02/11	USD		193,875	BRL		305,974		(728	)
		6/02/11	USD		584,267	BRL		916,715		(5,588	)
		6/02/11	USD		43,575,959	BRL		68,845,657		(116,907	)
		8/02/11	BRL		927,632	USD		558,814		(19,023	)
		8/02/11	BRL		1,236,843	USD		744,660		(25,791	)
		8/02/11	CLP		276,196,923	USD		590,164		674
		8/02/11	CLP		368,262,564	USD		783,046		(2,941	)
		8/02/11	CNY		3,738,544	USD		577,292		(803	)
		8/02/11	CNY		4,984,726	USD		770,139		(655	)
		8/02/11	ILS		1,987,778	USD		565,521		(12,019	)
		8/02/11	ILS		2,650,371	USD		754,280		(15,774	)
		8/02/11	INR		26,215,278	USD		576,921		381
		8/02/11	INR		34,953,704	USD		768,703		(17	)
		8/02/11	KRW		633,656,073	USD		579,687		(5,109	)
		8/02/11	KRW		844,874,764	USD		773,518		(6,211	)
		8/02/11	MXN		6,812,217	USD		577,534		(7,625	)
		8/02/11	MXN		9,082,956	USD		770,142		(10,070	)
		8/02/11	MYR		1,755,399	USD		582,899		1,795
		8/02/11	MYR		2,340,532	USD		776,503		1,698
		8/02/11	PLN		1,616,847	USD		581,579		(2,756	)
		8/02/11	PLN		2,155,796	USD		775,583		(3,529	)
		8/02/11	TRY		899,852	USD		557,546		473
		8/02/11	TRY		1,199,803	USD		743,664		900
		8/02/11	TWD		16,670,366	USD		584,310		716
		8/02/11	TWD		22,227,154	USD		779,490		1,364
		8/02/11	USD		43,828,819	BRL		69,613,314		(465,494	)
		8/02/11	USD		193,351	BRL		308,975		(885	)
		8/02/11	USD		4,586,830	BRL		7,384,796		13,286
		8/02/11	USD		190,049	BRL		308,450		2,089
		8/02/11	USD		190,049	BRL		308,450		2,089
		8/02/11	USD		189,518	BRL		308,724		2,792
		8/02/11	USD		567,419	BRL		925,744		9,243
		8/02/11	USD		188,364	BRL		308,728		3,948
		8/02/11	USD		187,028	BRL		308,128		4,911
		8/02/11	USD		192,049	BRL		308,142		(102	)
		8/02/11	USD		42,881,472	CLP		20,346,829,434		545,016
		8/02/11	USD		194,817	CLP		92,099,713		1,753
		8/02/11	USD		588,510	CLP		276,305,424		1,212
		8/02/11	USD		198,262	CLP		92,092,697		(1,707	)
		8/02/11	USD		4,723,301	CLP		2,210,032,751		(6,401	)
		8/02/11	USD		196,482	CLP		91,924,030		(287	)
		8/02/11	USD		196,482	CLP		91,924,030		(287	)
		8/02/11	USD		195,504	CLP		91,916,261		674
		8/02/11	USD		586,716	CLP		275,815,132		1,960
		8/02/11	USD		194,974	CLP		91,930,299		1,234
		8/02/11	USD		193,184	CLP		91,762,332		2,666
		8/02/11	USD		196,091	CLP		91,750,786		(266	)
		8/02/11	USD		42,666,585	CNY		275,370,139		(85,769	)
		8/02/11	USD		193,332	CNY		1,243,418		(1,061	)
		8/02/11	USD		577,863	CNY		3,726,641		(1,608	)
		8/02/11	USD		193,561	CNY		1,244,792		(1,078	)
		8/02/11	USD		4,655,030	CNY		29,927,188		(27,353	)
		8/02/11	USD		193,703	CNY		1,247,737		(764	)
		8/02/11	USD		193,703	CNY		1,247,737		(764	)
		8/02/11	USD		193,648	CNY		1,250,774		(240	)
		8/02/11	USD		582,621	CNY		3,757,906		(1,532	)
		8/02/11	USD		194,259	CNY		1,252,291		(616	)
		8/02/11	USD		194,212	CNY		1,259,272		511

Notes to Schedule of Investments (unaudited)(continued)


Fund Name	Settlement Date			Contracts To Deliver			In Exchange For		Unrealized Gain (Loss)
		8/02/11	USD		194,919	CNY		1,260,543		—
		8/02/11	USD		42,616,991	ILS		146,406,410		(79,246	)
		8/02/11	USD		193,659	ILS		662,726		(1,107	)
		8/02/11	USD		579,402	ILS		1,988,219		(1,734	)
		8/02/11	USD		194,489	ILS		663,160		(1,811	)
		8/02/11	USD		4,686,112	ILS		15,926,924		(58,614	)
		8/02/11	USD		194,959	ILS		663,006		(2,325	)
		8/02/11	USD		194,959	ILS		663,006		(2,325	)
		8/02/11	USD		191,951	ILS		662,568		555
		8/02/11	USD		573,445	ILS		1,987,788		4,099
		8/02/11	USD		189,527	ILS		662,540		2,971
		8/02/11	USD		189,913	ILS		662,570		2,593
		8/02/11	USD		192,639	ILS		663,120		28
		8/02/11	USD		21,413,616	INR		965,968,213		(169,538	)
		8/02/11	USD		21,404,126	INR		965,968,213		(160,048	)
		8/02/11	USD		192,826	INR		8,736,936		(679	)
		8/02/11	USD		577,648	INR		26,207,912		(1,270	)
		8/02/11	USD		193,954	INR		8,727,944		(2,005	)
		8/02/11	USD		4,650,278	INR		209,262,514		(48,068	)
		8/02/11	USD		192,577	INR		8,702,562		(1,186	)
		8/02/11	USD		192,577	INR		8,702,562		(1,186	)
		8/02/11	USD		191,428	INR		8,700,415		(84	)
		8/02/11	USD		575,348	INR		26,097,798		(1,392	)
		8/02/11	USD		192,190	INR		8,700,448		(845	)
		8/02/11	USD		189,719	INR		8,662,580		793
		8/02/11	USD		190,360	INR		8,644,242		(251	)
		8/02/11	USD		42,801,201	KRW		46,672,569,802		272,556
		8/02/11	USD		194,256	KRW		211,350,512		798
		8/02/11	USD		580,424	KRW		633,822,950		4,526
		8/02/11	USD		196,130	KRW		211,369,583		(1,059	)
		8/02/11	USD		4,722,477	KRW		5,075,718,287		(38,135	)
		8/02/11	USD		195,426	KRW		211,285,015		(433	)
		8/02/11	USD		195,426	KRW		211,285,015		(433	)
		8/02/11	USD		193,879	KRW		211,192,865		1,029
		8/02/11	USD		581,148	KRW		633,450,910		3,459
		8/02/11	USD		195,391	KRW		211,158,677		(514	)
		8/02/11	USD		192,096	KRW		211,017,936		2,650
		8/02/11	USD		194,823	KRW		211,031,869		(63	)
		8/02/11	USD		42,786,113	MXN		501,851,151		322,137
		8/02/11	USD		193,427	MXN		2,272,194		1,751
		8/02/11	USD		582,423	MXN		6,812,629		2,772
		8/02/11	USD		194,924	MXN		2,271,558		199
		8/02/11	USD		4,668,068	MXN		54,497,830		13,212
		8/02/11	USD		193,712	MXN		2,268,636		1,161
		8/02/11	USD		193,712	MXN		2,268,636		1,161
		8/02/11	USD		193,812	MXN		2,267,228		939
		8/02/11	USD		581,550	MXN		6,802,706		2,792
		8/02/11	USD		193,999	MXN		2,267,356		763
		8/02/11	USD		192,229	MXN		2,264,292		2,270
		8/02/11	USD		194,463	MXN		2,263,771		(8	)
		8/02/11	USD		42,717,865	MYR		129,311,249		89,090
		8/02/11	USD		195,142	MYR		585,134		(1,441	)
		8/02/11	USD		584,616	MYR		1,754,434		(3,832	)
		8/02/11	USD		197,113	MYR		584,835		(3,511	)
		8/02/11	USD		4,726,358	MYR		14,046,736		(76,353	)
		8/02/11	USD		195,968	MYR		584,965		(2,322	)
		8/02/11	USD		195,968	MYR		584,965		(2,322	)
		8/02/11	USD		194,421	MYR		584,917		(792	)
		8/02/11	USD		584,712	MYR		1,756,476		(3,252	)
		8/02/11	USD		196,078	MYR		585,489		(2,259	)
		8/02/11	USD		191,347	MYR		585,712		2,546
		8/02/11	USD		194,143	MYR		585,923		(180	)
		8/02/11	USD		43,259,980	PLN		119,107,704		(214,034	)
		8/02/11	USD		196,824	PLN		539,161		(1,970	)
		8/02/11	USD		594,659	PLN		1,616,789		(10,346	)
		8/02/11	USD		200,931	PLN		539,067		(6,110	)
		8/02/11	USD		4,835,535	PLN		12,940,133		(158,925	)
		8/02/11	USD		201,376	PLN		538,640		(6,709	)
		8/02/11	USD		201,376	PLN		538,640		(6,709	)
		8/02/11	USD		196,719	PLN		538,104		(2,246	)
		8/02/11	USD		585,871	PLN		1,613,839		(2,623	)
		8/02/11	USD		195,618	PLN		537,831		(1,244	)
		8/02/11	USD		190,488	PLN		537,271		3,684
		8/02/11	USD		194,203	PLN		537,283		(27	)

Notes to Schedule of Investments (unaudited)(continued)


Fund Name	Settlement Date			Contracts To Deliver			In Exchange For		Unrealized Gain (Loss)
		8/02/11	USD		42,939,022	TRY		66,306,437		(1,890,565	)
		8/02/11	USD		193,382	TRY		300,108		(7,593	)
		8/02/11	USD		579,930	TRY		899,290		(23,205	)
		8/02/11	USD		194,040	TRY		299,694		(8,507	)
		8/02/11	USD		4,612,436	TRY		7,189,635		(161,535	)
		8/02/11	USD		191,637	TRY		299,232		(6,391	)
		8/02/11	USD		191,637	TRY		299,232		(6,391	)
		8/02/11	USD		191,966	TRY		298,911		(6,919	)
		8/02/11	USD		565,900	TRY		896,102		(11,148	)
		8/02/11	USD		186,427	TRY		298,707		(1,506	)
		8/02/11	USD		184,371	TRY		297,888		43
		8/02/11	USD		184,339	TRY		297,670		(60	)
		8/02/11	USD		42,827,365	TWD		1,228,074,698		164,922
		8/02/11	USD		193,285	TWD		5,539,539		643
		8/02/11	USD		580,991	TWD		16,662,820		2,339
		8/02/11	USD		195,794	TWD		5,550,751		(1,474	)
		8/02/11	USD		4,706,144	TWD		133,278,010		(40,364	)
		8/02/11	USD		196,141	TWD		5,564,518		(1,339	)
		8/02/11	USD		196,141	TWD		5,564,518		(1,339	)
		8/02/11	USD		195,900	TWD		5,580,600		(535	)
		8/02/11	USD		588,970	TWD		16,706,148		(4,124	)
		8/02/11	USD		196,950	TWD		5,573,091		(1,848	)
		8/02/11	USD		195,136	TWD		5,616,000		1,469
		8/02/11	USD		196,491	TWD		5,605,902		(241	)
		8/02/11	USD		21,480,761	ZAR		147,613,644		(51,143	)
		8/02/11	USD		21,410,348	ZAR		147,613,644		19,271
		8/02/11	USD		195,663	ZAR		1,335,263		(1,818	)
		8/02/11	USD		589,841	ZAR		4,004,021		(8,563	)
		8/02/11	USD		198,913	ZAR		1,334,882		(5,123	)
		8/02/11	USD		4,773,750	ZAR		32,025,895		(124,432	)
		8/02/11	USD		197,948	ZAR		1,332,845		(4,454	)
		8/02/11	USD		197,948	ZAR		1,332,845		(4,454	)
		8/02/11	USD		197,010	ZAR		1,331,341		(3,734	)
		8/02/11	USD		583,689	ZAR		3,992,550		(4,076	)
		8/02/11	USD		192,442	ZAR		1,330,733		746
		8/02/11	USD		187,969	ZAR		1,328,018		4,825
		8/02/11	USD		192,693	ZAR		1,327,377		7
		8/02/11	ZAR		4,006,782	USD		566,270		(15,410	)
		8/02/11	ZAR		5,342,376	USD		755,061		(20,512	)

									$	(2,372,769	)


Indian Rupee Fund		8/02/11	USD		13,663,467	INR		616,358,985	$	(108,178	)
		8/02/11	USD		13,657,412	INR		616,358,985		(102,123	)

									$	(210,301	)


New Zealand Dollar Fund		6/03/11	NZD		3,070,417	USD		2,438,556	$	(87,002	)
		6/03/11	NZD		28,156	USD		22,362		(798	)
		6/03/11	NZD		33,746,435	USD		27,759,724		1,746
		6/03/11	USD		28,569,619	NZD		36,845,008		1,737,076
		6/15/11	NZD		3,070,417	USD		2,259,458		(264,079	)
		6/15/11	USD		27,759,817	NZD		33,746,435		(24,045	)

									$	1,362,898


South African Rand Fund		8/02/11	USD		5,800,029	ZAR		39,857,221	$	(13,809	)
		8/02/11	USD		5,781,017	ZAR		39,857,221		5,203
		8/02/11	USD		2,911,442	ZAR		19,913,099		(20,584	)
		8/02/11	USD		1,990	ZAR		13,611		(14	)
		8/02/11	ZAR		68,484	USD		10,148		206
		8/02/11	ZAR		19,928,610	USD		2,952,912		59,802

									$	30,804


Asia Local Debt Fund		6/15/11	USD		2,217,573	CNY		14,361,000	$	(1,027	)
		6/15/11	USD		288,552	CNY		1,874,000		690
		6/15/11	USD		1,796,991	HKD		14,000,000		2,928
		6/15/11	USD		576,205	HKD		4,477,000		(617	)
		6/15/11	USD		288,415	HKD		2,243,000		(42	)
		6/15/11	USD		1,821,494	PHP		80,000,000		25,479
		6/15/11	USD		283,776	PHP		12,296,000		104
		6/15/11	USD		288,306	PHP		12,524,000		838
		6/15/11	USD		846,481	TWD		24,294,000		(56	)
		6/15/11	USD		13,141,123	TWD		374,522,000		(92,447	)
		6/15/11	USD		563,187	TWD		16,079,000		(2,981	)
		6/15/11	USD		278,774	TWD		8,051,000		1,730

									$	(65,401	)


Emerging Markets Local Debt Fund		6/15/11	USD		559,798	IDR		4,985,000,000	$	23,338
		6/15/11	USD		12,150,678	IDR		107,958,772,700		478,123
		6/15/11	USD		1,696,449	IDR		15,000,000,000		58,221
		6/15/11	USD		5,280,046	IDR		46,042,000,000		105,855

Notes to Schedule of Investments (unaudited)(continued)


Fund Name	Settlement Date			Contracts To Deliver			In Exchange For		Unrealized Gain (Loss)
		6/15/11	USD		1,496,967	IDR		12,832,000,000		4,095
		6/15/11	USD		764,768	KRW		863,500,000		34,729
		6/15/11	USD		584,862	MYR		1,785,000		7,140
		6/15/11	USD		375,326	PHP		16,383,000		2,910
		6/15/11	USD		1,148,068	PHP		50,174,000		10,307
		6/15/11	USD		382,000	PHP		16,617,000		1,639
		6/15/11	USD		1,153,630	PHP		50,056,000		2,021
		6/15/11	USD		884,269	PHP		38,280,000		(492	)
		6/15/11	USD		796,111	RUB		22,928,000		22,034
		6/15/11	USD		753,802	THB		23,000,000		6,950
		6/15/11	USD		389,785	THB		11,821,000		—

									$	756,870


Managed Futures Strategy Fund		6/15/11	JPY		1,441,606,000	USD		17,359,335	$	(401,852	)
		6/15/11	JPY		104,766,000	USD		1,246,127		(44,634	)
		6/15/11	JPY		109,870,000	USD		1,329,693		(23,951	)
		6/15/11	JPY		1,252,520,000	USD		15,374,380		(57,189	)
		6/15/11	USD		2,496,729	JPY		203,989,000		16,501
		6/15/11	USD		53,358	JPY		4,360,000		359
		6/15/11	USD		2,428,205	JPY		198,413,000		16,326
		6/15/11	USD		2,469,780	JPY		204,069,000		44,435
		6/15/11	USD		61,789	JPY		5,108,000		1,144
		6/15/11	USD		1,179,125	JPY		96,226,000		6,420
		6/15/11	USD		23,274,618	JPY		1,886,978,000		(26,262	)
		6/15/11	USD		1,275,859	JPY		102,306,000		(15,406	)
		6/15/11	USD		1,255,171	JPY		102,793,000		11,281
		6/15/11	USD		1,274,867	JPY		104,520,000		12,863
		9/21/11	USD		3,043,864	JPY		247,853,000		8,698
		9/21/11	USD		15,382,103	JPY		1,252,520,000		43,958

									$	(407,309	)

Currency Legend:

AUD - Australian dollar

BRL - Brazilian real

CAD - Canadian dollar

CLP - Chilean peso

CNY - Chinese yuan

IDR - Indonesian rupiah

ILS - Israeli new shekel

INR - Indian rupee

HKD - Hong Kong dollar

JPY - Japanese yen

KRW - South Korean won

MXN - Mexican peso

MYR - Malaysian ringgit

NOK - Norwegian krone

NZD - New Zealand dollar

PHP - Philippine peso

PLN - Polish zloty

RUB - Russian ruble

THB - Thai baht

TRY - Turkish new lira

TWD - New Taiwan dollar

USD - U.S. dollar

ZAR - South African rand

Notes to Schedule of Investments (unaudited)(continued)

Currency, Interest Rate and Total Return Swaps - Each Fund may enter into swap agreements, including interest rate swaps, currency swaps and total return swaps. A typical interest rate swap involves the exchange of a floating interest rate payment for a fixed interest payment. A typical foreign currency swap involves the exchange of cash flows based on the notional difference among two or more currencies (e.g., the U.S. dollar and the Brazilian real). A typical total return swap involves the payment of the total return on a reference asset in return for payments equal to a rate of interest on another reference asset. The total return includes appreciation or depreciation on the reference asset, plus any interest or dividend payments. Swap agreements may be used to achieve exposure to, for example, currencies, interest rates, and money market securities without actually purchasing such currencies or securities. The Managed Futures Strategy Fund may enter into swap transactions based commodities or commodity indexes. Each Fund may use swap agreements to invest in a market without owning or taking physical custody of the underlying securities in circumstances in which direct investment is restricted for legal reasons or is otherwise impracticable. Swap agreements will tend to shift a Fund’s investment exposure from one type of investment to another or from one payment stream to another. Depending on their structure, swap agreements may increase or decrease a Fund’s exposure to long or short term interest rates (in the United States or abroad), foreign currencies, corporate borrowing rates, or other factors, and may increase or decrease the overall volatility of a Fund’s investments and its share price.

Detailed below are the total return and interest rate swap agreements outstanding as of May 31, 2011:

Fund

Counterparty

ASC 820
Level*

Termination
Date

Notional
Amount
(000)

Fixed
Rate
Paid

Floating
Rate
Received

Unrealized
Appreciation

Emerging Markets Local Debt

Citibank, N.A.

Level 2

7/17/2017

13,827

10.00

%**

3 Month LIBOR

1,307,585

Emerging Markets Local Debt

Citibank, N.A.

Level 2

5/17/2016

8,039

10.75

%**

3 Month LIBOR

107,880

Emerging Markets Local Debt

Citibank, N.A.

Level 2

5/17/2016

6,196

10.75

%**

3 Month LIBOR

343,196

Managed Futures Strategy (consolidated)

UBS AG

Level 2

12/15/2011

26,666

—

3 Month Treasury Bill

899,810

Managed Futures Strategy (consolidated)

UBS AG

Level 2

12/15/2011

3,980

—

3 Month Treasury Bill

47,343

Managed Futures Strategy (consolidated)

UBS AG

Level 2

12/15/2011

3,970

—

3 Month Treasury Bill

21,926

*	ASC 820 level is not a part of regular reporting requirements for each security listed.

**	Reference asset is Indonesian Treasury Bond.

Futures Contracts - Each Fund may transact in currency futures contracts and U.S. Treasury futures contracts. The Managed Futures Strategy Fund will transact in commodity futures contracts. When the Fund purchases a listed futures contract, it agrees to purchase a specified reference asset (i.e., commodity, currency or Treasury security) at a specified future date. When the Fund sells a listed futures contract, it agrees to sell a specified reference asset (i.e., commodity, currency or Treasury security) at a specified future date. The price at which the purchase and sale will take place is fixed when the Fund enters into the contract. The exchange clearing corporation is the ultimate counterparty for all exchange listed contracts, so credit risk is limited to the creditworthiness of the exchange’s clearing corporation. Margin deposits are posted as performance bonds with the clearing broker and, in turn, with the exchange clearing corporation.

Each Fund may buy and sell index futures contracts. An index futures contract is a bilateral agreement pursuant to which two parties agree to take or make delivery of an amount of cash equal to a specified dollar amount times the difference between the index value at the close of trading of the contract and the price at which the futures contract is originally struck. No physical delivery of the securities comprising the index is made. Instead, settlement in cash must occur upon the termination of the contract, with the settlement being the difference between the contract price, and the actual level of the index at the expiration of the contract. Generally, contracts are closed out prior to the expiration date of the contract.

When a Fund purchases or sells a futures contract, the Fund is required to “cover” its position in order to limit the risk associated with the use of leverage and other related risks. To cover its position, the Fund will maintain with its custodian bank (and mark-to-market on a daily basis) a segregated account consisting of cash or liquid securities that, when added to any amounts deposited with a futures commission merchant as margin, are equal to the market value of the futures contract or otherwise “cover” its position in a manner consistent with the 1940 Act or the rules and Securities and Exchange

Notes to Schedule of Investments (unaudited)(continued)

Commission (“SEC”) interpretations thereunder. If the Fund continues to engage in the described securities trading practices and properly segregates assets, the segregated account will function as a practical limit on the amount of leverage which the Fund may undertake and on the potential increase in the speculative character of the Fund’s outstanding portfolio securities. Additionally, such segregated accounts will generally ensure the availability of adequate funds to meet the obligations of the Fund arising from such investment activities.

At May 31, 2011 the Funds had the following open futures contracts:


Fund	Futures Contracts Short	Number of Contracts			Notional Value			Expiration Date		Unrealized Appreciation/ (Depreciation)
Managed Futures Strategy (consolidated)	Canada Currency Futures		(15	)	$	(1,543,950	)		Sept 2011	$	(303	)
	Cocoa Futures		(13	)		(391,690	)		Sept 2011		(305	)
	Coffee Futures		(6	)		(602,438	)		Sept 2011		(133	)
	Copper Futures		(19	)		(1,993,338	)		Sept 2011		96
	Cotton Futures		(6	)		(406,500	)		Dec 2011		9
	Lean Hogs Futures		(22	)		(802,780	)		Aug 2011		22,701
	Live Cattle Futures		(28	)		(1,180,200	)		Aug 2011		58,129
	Sugar #11 (World) Futures		(15	)		(386,232	)		Sept 2011		(176	)

											80,018


	Futures Contracts Long
	British Pound Currency Futures		74			7,598,413			Sept 2011		(14,740	)
	Corn Futures		49			1,757,875			Sept 2011		(946	)
	Euro Foreign Exchange Currency Futures		112			20,077,400			Sept 2011		123,182
	Gold 100 Ounce Futures		9			1,383,120			Aug 2011		(7,132	)
	Silver Futures		4			766,580			Sept 2011		1
	Soybean Futures		27			1,840,725			Nov 2011		(2,595	)
	Swiss Franc Futures		21			3,078,600			Sept 2011		(548	)
	U.S. Dollar Currency Futures		29			3,048,770			Sept 2011		(10,156	)
	U.S. Long Bond (CBT) Futures		92			11,485,625			Sept 2011		256,057
	U.S. Treasury Notes 10yr Futures		94			11,525,281			Sept 2011		199,208
	Wheat Futures (CBT) Futures		21			873,600			Sept 2011		(49	)

											542,282

	Total									$	622,300

Security Lending - Each Fund may lend portfolio securities to certain creditworthy borrowers, including the Funds’ securities lending agent. It is the Fund’s policy that, at origination, all loans are secured by collateral of at least 102% of the value of U.S. securities loaned and 105% of the value of foreign securities loaned. Collateral in the form of cash and /or high grade debt obligations, equivalent to at least 100% of the market value of securities is maintained at all times. The collateral can be invested in certain money market mutual funds which also have exposure to the fluctuations of the market. Each Fund receives compensation for lending its securities from interest or dividends earned on the cash or U.S. government securities held as collateral, net of fee rebates paid to the borrower plus reasonable administrative and custody fees. The dividend and interest income earned on the securities loaned is accounted for in the same manner as other dividend and interest income. The borrower pays to the Funds an amount equal to any dividends or interest received on loaned securities. The Funds retain all or a portion of the interest received on investment of cash collateral or receives a fee from the borrower. Lending portfolio securities could result in a loss or delay in recovering each Fund’s securities if the borrower defaults.

Short-Term Investments - Each Fund may invest a portion of its assets in high-quality money market instruments on an ongoing basis to provide liquidity or for other reasons. The instruments include short-term obligations issued by the U.S. Government, its agencies, non-U.S. Government, agencies, negotiable certificates of deposit (“CDs”), fixed time deposits and bankers’ acceptances of U.S. and foreign banks and similar institutions, commercial papers, repurchase agreements and money market funds. CDs are short-term negotiable obligations of commercial banks. Time deposits are non-negotiable deposits maintained in banking institutions for specified periods of time at stated interest rates. Banker’s acceptances are time drafts drawn on commercial banks by borrowers, usually in connection with international transactions.

3. FEDERAL INCOME TAXES

At May 31, 2011, the cost of investments for Federal income tax purposes was substantially the same, as for book purposes, as indicated below:


Fund	Tax Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation			Net Unrealized Appreciation/ (Depreciation)
Brazilian Real Fund	$	177,676,772	$	632	$	(85	)	$	547
Chinese Yuan Fund		664,676,838		3,344		(217	)		3,127
Commodity Currency Fund		140,570,340		237		(52	)		185
Emerging Currency Fund		583,335,137		2,677		(936	)		1,741
Euro Fund		9,680,437		134,625		(23,606	)		111,019
Indian Rupee Fund		27,292,537		118		(9	)		109
Japanese Yen Fund		6,110,296		106,432		—			106,432
New Zealand Dollar Fund		23,850,737		27		(14	)		13
South African Rand Fund		11,527,945		35		(4	)		31
Asia Local Debt Fund		273,555,537		6,968,168		(199,605	)		6,768,563
Emerging Markets Local Debt Fund		932,591,581		32,330,111		(6,797,179	)		25,532,932
Managed Futures Strategy Fund		120,387,779		14		(49	)		(35	)

4. SUBSEQUENT EVENT

In accordance with GAAP provisions, management of the Funds evaluated the possibilities of subsequent events existing in the Fund’s financial statements through the date the financial statements were issued. Management has determined that there are no material events that would require disclosure in the Funds’ financial statements.

Effective July 14, 2011, the WTAM launched the WisdomTree Global Real Return Fund (RRF). The Fund has an expense ratio of 0.60%.

5. NEW ACCOUNTING PRONOUNCEMENT

In April 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2011-03 “Reconsideration of Effective control for Repurchase Agreements”. The objective of ASU 2011-03 is to improve the accounting for repurchase agreements and other agreements that both entitle and obligate a transferor to repurchase or redeem financial assets before their maturity. Under previous guidance, whether or not to account for a transaction as a sale was based on, in part, if the entity maintained effective control over the transferred financial assets. ASU 2011-03 removes the transferor’s ability criterion from the effective control assessment. This guidance is effective prospectively for interim and annual reporting periods beginning on or after December 15, 2011. At this time, management is evaluating the implications of ASU No. 2011-03 and its impact on the financial statements has not been determined.

Item 2.

Controls and Procedures.

(a)

Based on their evaluation of the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3 (c) under the Investment Company Act of 1940) as of a date within 90 days prior to the filing date of this report, the President and Treasurer of the Registrant have concluded that such disclosure controls and procedures are reasonably designed and effective to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to them by others within those entities.

(b)

There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3 (d) under the Investment Company Act of 1940) that occurred during the Registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 3.

Exhibits.

(i)

Certification of each principal executive officer and principal financial officer the Registrant as required by Rule 30a-2 (a) under the Investment Company Act of 1940 (17 CFR 270.30a-2) is attached hereto as a part of EX-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) WisdomTree Trust

By:		/s/ Jonathan L. Steinberg
		Jonathan L. Steinberg
		President

Date:		July 29, 2011

By:		/s/ Amit Muni
		Amit Muni
		Treasurer

Date:		July 29, 2011

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/ Jonathan L. Steinberg
		Jonathan L. Steinberg
		President

Date:		July 29, 2011

By:		/s/ Amit Muni
		Amit Muni
		Treasurer

Date:		July 29, 2011