Whirlpool | 2165306 | ING VARIABLE PORTFOLIOS INC (Form: N

SECURITIES AND EXCHANGE COMMISSION
FORM N-Q
Quarterly schedule of portfolio holdings of registered management investment company filed on
Form N-Q
Filing Date: 2010-05-26 | Period of Report: 2010-03-31
SEC Accession No. 0001104659-10-030841
(HTML Version on secdatabase.com)
FILER
ING VARIABLE PORTFOLIOS INC
CIK:1015965| IRS No.: 000000000 | State of Incorp.:MD | Fiscal Year End: 1231
Type: N-Q | Act: 40 | File No.: 811-07651 | Film No.: 10858835
Mailing Address
Business Address
ING FUNDS SERVICES
ING FUNDS SERVICES
7337 E. DOUBLETREE RANCH 7337 E. DOUBLETREE RANCH
ROAD
ROAD
SCOTTSDALE AZ 85258
SCOTTSDALE AZ 85258
480-477-3000
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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: 811-07651
ING Variable Portfolios, Inc.
(Exact name of registrant as specified in charter)
7337 E. Doubletree Ranch Rd., Scottsdale, AZ 85258
(Address of principal executive offices)
(Zip code)
The Corporation Trust Inc., 300 E Lombard Street, Baltimore, MD 21202
(Name and address of agent for service)
Registrant’s telephone number, including area code: 1-800-992-0180
Date of fiscal year end:
December 31
Date of reporting period:
March 31, 2010
Item 1. Schedule of Investments
The schedules of investments as of the close of the reporting period are set forth below for:
ING BlackRock Science and Technology Opportunities Portfolio
ING Dow Jones Euro STOXX 50® Index Portfolio
ING FTSE Index Portfolio
ING Hang Seng Index Portfolio
ING Index Plus LargeCap Portfolio
ING Index Plus MidCap Portfolio
ING Index Plus SmallCap Portfolio
ING International Index Portfolio
ING Japan Equity Index Portfolio
ING Opportunistic LargeCap Portfolio
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ING RussellTM Global Large Cap Index 75% Portfolio
ING RussellTM Large Cap Growth Index Portfolio
ING RussellTM Large Cap Index Portfolio
ING RussellTM Large Cap Value Index Portfolio
ING RussellTM Mid Cap Growth Index Portfolio
ING RussellTM Mid Cap Index Portfolio
ING RussellTM Small Cap Index Portfolio
ING Small Company Portfolio
ING U.S. Bond Index Portfolio
ING WisdomTreeSM Global High-Yielding Equity Index Portfolio
The schedules are not audited.
ING BlackRock Science and Technology Opportunities Portfolio
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited)
Shares
Value
COMMON STOCK: 96.1%
Biotechnology: 1.3%
29,400
20,300
18,000
@
@
@, S
Building Materials: 0.6%
Asahi Glass Co. Ltd.
192,400
56,500
138,500
54,600
95,700
61,000
95,400
145,400
77,300
61,200
49,400
123,600
333,300
28,700
111,000
226,800
78,700
109,800
24,000
62,900
55,500
Biogen Idec, Inc.
Genzyme Corp.
Millipore Corp.
S
@, S
@, S, L
@, S
@
@, S
@, S, L
@, S
@
@, S
@, S, L
S
S
@, S
@
@, L
@, S
Commercial Services: 1.9%
Automatic Data Processing, Inc.
Convergys Corp.
SuccessFactors, Inc.
Western Union Co.
Computers: 21.0%
Accenture PLC
Apple, Inc.
Brocade Communications Systems, Inc.
Cognizant Technology Solutions Corp.
Compellent Technologies, Inc.
Computer Sciences Corp.
Dell, Inc.
EMC Corp.
Fortinet, Inc.
Fujitsu Ltd.
Hewlett-Packard Co.
International Business Machines Corp.
NetApp, Inc.
Research In Motion Ltd.
Seagate Technology, Inc.
Synopsys, Inc.
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$
1,686,384
1,052,149
1,900,800
4,639,333
2,170,122
2,170,122
2,512,555
1,698,010
1,039,584
1,623,072
6,873,221
2,558,950
22,412,322
830,234
3,940,754
1,074,060
2,691,806
1,855,236
6,012,732
504,546
728,689
12,054,420
10,093,275
3,575,088
1,774,800
1,148,554
1,241,535
71,400
27,500
@, S
@
15,500
22,600
34,800
55,600
71,400
61,500
@, S
S
@, S
S
@, S
@, S, L
@, S
S
@
1,342,398
1,342,398
Electronics: 3.8%
Agilent Technologies, Inc.
Amphenol Corp.
Arrow Electronics, Inc.
AU Optronics Corp. ADR
Nidec Corp.
Thermo Fisher Scientific, Inc.
TTM Technologies, Inc.
Vishay Intertechnology, Inc.
2,493,275
2,333,107
1,425,149
2,062,853
1,501,106
1,754,104
849,816
1,155,990
13,575,400
Healthcare - Products: 4.2%
Alcon, Inc.
Becton Dickinson & Co.
Covidien PLC
Medtronic, Inc.
St. Jude Medical, Inc.
Stryker Corp.
2,504,180
1,779,298
1,749,744
2,503,668
2,930,970
3,519,030
14,986,890
Home Furnishings: 0.4%
Matsushita Electric Industrial Co. Ltd.
95,100
24,100
167,900
99,600
2,100
69,800
193,000
50,100
20,010
42,500
24,400
5,800
165,000
83,600
278,700
2,062,746
1,072,225
75,631,972
Electrical Components & Equipment: 0.4%
Hitachi Ltd.
360,800
72,500
55,300
47,300
182,070
14,000
34,100
95,700
113,000
Teradata Corp.
Western Digital Corp.
@, S
@
@, S
@, S
@, S
@
@, S
@, S
@, S
@, S
@, S
@, S
@
@
1,457,982
1,457,982
Internet: 12.0%
Amazon.com, Inc.
Art Technology Group, Inc.
AsiaInfo Holdings, Inc.
Baidu.com ADR
Blue Coat Systems, Inc.
eBay, Inc.
F5 Networks, Inc.
Google, Inc. - Class A
McAfee, Inc.
Perfect World Co. Ltd. ADR
Priceline.com, Inc.
Symantec Corp.
VeriSign, Inc.
Yahoo!, Inc.
ING BlackRock Science and Technology Opportunities Portfolio
3,271,093
740,439
2,637,408
1,253,700
2,166,592
5,201,350
3,081,651
11,345,870
1,705,525
913,780
1,479,000
2,791,800
2,174,436
4,606,911
43,369,555
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
Machinery - Diversified: 0.2%
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75,900
@, L
Hollysys Automation Technologies Ltd.
$
873,609
873,609
Miscellaneous Manufacturing: 0.5%
Konica Minolta Holdings, Inc.
164,600
1,925,221
1,925,221
Office/Business Equipment: 0.5%
Xerox Corp.
185,300
1,806,675
1,806,675
Pharmaceuticals: 1.2%
Bristol-Myers Squibb Co.
Novartis AG
67,300
46,100
1,796,910
2,493,731
4,290,641
701,100
28,600
246,100
341,400
71,400
48,600
185,700
81,700
519,000
54,500
59,000
243,000
47,700
146,300
306,300
49,200
108,400
127,800
181,100
53,600
30
3,800
200,000
181,700
130,800
281,600
74,700
S
S
@
S
@
S
S
@, S
@
@, L
@, S
@
@, S
@, S
@, S
@, S
@, S
S
S
@
S
Semiconductors: 18.7%
Advanced Semiconductor Engineering, Inc.
Altera Corp.
Applied Materials, Inc.
ARM Holdings PLC
ASM Pacific Technology
Avago Technologies Ltd.
Broadcom Corp.
Hynix Semiconductor, Inc.
Intel Corp.
KLA-Tencor Corp.
Lam Research Corp.
Marvell Technology Group Ltd.
MaxLinear, Inc.
MEMC Electronic Materials, Inc.
Micron Technology, Inc.
Netlogic Microsystems, Inc.
Novellus Systems, Inc.
Nvidia Corp.
PMC - Sierra, Inc.
QLogic Corp.
Rovi Corp.
Samsung Electronics Co. Ltd.
Siliconware Precision Industries Co. ADR
Taiwan Semiconductor Manufacturing Co. Ltd. ADR
Teradyne, Inc.
Texas Instruments, Inc.
Xilinx, Inc.
637,952
695,266
3,317,428
1,223,713
675,174
999,216
6,161,526
1,928,091
11,552,940
1,685,140
2,201,880
4,952,340
846,675
2,242,779
3,182,457
1,447,956
2,710,000
2,221,164
1,615,412
1,088,080
1,114
2,747,378
1,202,000
1,906,033
1,461,036
6,890,752
1,904,850
67,498,352
125,500
40,900
127,100
44,500
75,200
113,900
67,800
77,500
@, S
@, S
@, S
@, S
@, S
S
@
@, S
Software: 16.5%
Adobe Systems, Inc.
ArcSight, Inc.
Ariba, Inc.
Autodesk, Inc.
BMC Software, Inc.
CA, Inc.
Check Point Software Technologies
Citrix Systems, Inc.
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4,438,935
1,151,335
1,633,235
1,309,190
2,857,600
2,673,233
2,377,068
3,678,925
75,000
206,400
67,300
403,300
40,200
314,200
70,300
84,200
86,500
36,500
44,700
@, S
@
@, S
S
@, S
S
@, S
@, S
@, S
@, S
@
Commvault Systems, Inc.
Compuware Corp.
Intuit, Inc.
Microsoft Corp.
Open Text Corp.
Oracle Corp.
Progress Software Corp.
Red Hat, Inc.
Sybase, Inc.
Taleo Corp.
VMware, Inc.
1,601,250
1,733,760
2,311,082
11,804,591
1,908,294
8,071,798
2,209,529
2,464,534
4,032,630
945,715
2,382,510
59,585,214
57,800
62,100
34,400
95,000
63,500
379,200
152,100
122,900
66,800
11,400
317,200
121,400
78,400
164,280
169,900
76,200
147,400
@
@, S
@, S
S
@, S
@
S
@, S
@, S
@, S
S, L
@, S
S
S
S
S
Telecommunications: 12.9%
Amdocs Ltd.
American Tower Corp.
Anaren, Inc.
AT&T, Inc.
Atheros Communications, Inc.
Cisco Systems, Inc.
Corning, Inc.
JDS Uniphase Corp.
Juniper Networks, Inc.
Meru Networks, Inc.
Motorola, Inc.
Nokia OYJ ADR
Polycom, Inc.
Qualcomm, Inc.
Tellabs, Inc.
Verizon Communications, Inc.
Vimpel-Communications OAO ADR
1,740,358
2,646,081
489,856
2,454,800
2,458,085
9,870,576
3,073,941
1,539,937
2,049,424
218,538
2,226,744
1,886,556
2,397,472
6,898,117
1,286,143
2,363,724
2,713,634
46,313,986
Total Common Stock
(Cost $284,815,144)
ING BlackRock Science and Technology Opportunities Portfolio
346,340,571
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
SHORT-TERM INVESTMENTS: 0.7%
1,989,024
396,801
I
Securities Lending Collateral(cc): 0.7%
Bank of New York Mellon Corp. Institutional Cash Reserves, Series A (1)
Bank of New York Mellon Corp. Institutional Cash Reserves,
Series B (1)(2)
$
317,441
Total Short-Term Investments
(Cost $2,385,825)
Total Investments in Securities
(Cost $287,200,969)*
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1,989,024
2,306,465
96.8%
$
348,647,036
3.2
Other Assets and Liabilities - Net
100.0%
Net Assets
@
I
ADR
cc
(1)
(2)
S
L
*
11,603,105
$
360,250,141
$
63,928,326
(9,311,637)
$
54,616,689
Non-income producing security
Illiquid Security
American Depositary Receipt
Securities purchased with cash collateral for securities loaned.
Collateral received from brokers for securites lending was invested in these
short-term investments.
On September 12, 2008, BNY established a separate sleeve of the
Institutional Cash Reserves Fund (Series B) to hold certain Lehman
Brothers defaulted debt obligations. The Fund’s position in Series B is
being fair valued daily.
All or a portion of this security has been identified by the Fund to cover
future collateral requirements for applicable futures, options, swaps, foreign
currency contracts and/or when-issued or delayed-delivery securities.
Loaned security, a portion or all of the security is on loan at March 31,
2010.
Cost for federal income tax purposes is $294,030,347.
Net unrealized appreciation consists of:
Gross Unrealized Appreciation
Gross Unrealized Depreciation
Net Unrealized Appreciation
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING BlackRock Science and Technology Opportunities Portfolio
Fair Value Measurements
The following is a summary of the fair valuations according to the inputs used as of March 31, 2010 in valuing the Portfolio’s assets and
liabilities:
Asset Table
Investments, at value
Common Stock
Biotechnology
Building Materials
Commercial Services
Computers
Electrical Components & Equipment
Electronics
Healthcare - Products
Home Furnishings
Internet
$
Quoted Prices
Significant Other
Significant
in Active Markets
Observable
Unobservable
Fair Value
for Identical Investments
Inputs#
Inputs
at
(Level 1)
(Level 2)
(Level 3)
3/31/2010
4,639,333
—
6,873,221
74,903,283
—
12,074,294
14,986,890
—
42,455,775
$
—
2,170,122
—
728,689
1,342,398
1,501,106
—
1,457,982
913,780
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$
—
—
—
—
—
—
—
—
—
$
4,639,333
2,170,122
6,873,221
75,631,972
1,342,398
13,575,400
14,986,890
1,457,982
43,369,555
Machinery - Diversified
Miscellaneous Manufacturing
Office/Business Equipment
Pharmaceuticals
Semiconductors
Software
Telecommunications
Total Common Stock
Short-Term Investments
$
Total Investments, at value
873,609
—
1,806,675
1,796,910
60,286,044
59,585,214
46,313,986
—
1,925,221
—
2,493,731
7,212,308
—
—
—
—
—
—
—
—
—
873,609
1,925,221
1,806,675
4,290,641
67,498,352
59,585,214
46,313,986
326,595,234
19,745,337
—
346,340,571
1,989,024
—
317,441
2,306,465
328,584,258
Other Financial Instruments+:
Forward foreign currency contracts
$
19,745,337
$
317,441
453,383
—
$
348,647,036
453,383
—
Total Assets
$
328,584,258
$
20,198,720
$
317,441
$
349,100,419
Liabilities Table
Other Financial Instruments+:
Forward foreign currency contracts
$
—
$
(191,447)
$
—
$
(191,447)
Total Liabilities
$
—
$
(191,447)
$
—
$
(191,447)
The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio’s assets and liabilities
during the period ended March 31, 2010:
Beginning
Accrued
Balance
12/31/2009
Purchases
Sales
Total
Total Unrealized
Transfers
Transfers
Ending
Discounts/
Realized
Appreciation/
Into
Out of
Balance
(Premiums)
Gain/(Loss)
(Depreciation)
Level 3
Level 3
3/31/2010
Asset Table
Investments, at value
Short-Term Investments
$
317,441
$
—
$
—
$
—
$
—
$
—
$
—
$
—
$
317,441
Total Investments, at value
$
317,441
$
—
$
—
$
—
$
—
$
—
$
—
$
—
$
317,441
As of March 31, 2010, total change in unrealized gain (loss) on Level 3 securities still held at period end and included in the change in net
assets was $0.
+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency
contracts, futures, swaps, and written options. Forward foreign currency contracts and futures are reported at their unrealized gain/loss at
measurement date which represents the amount due to/from the Portfolio. Swaps and written options are reported at their market value at
measurement date.
Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any security or
derivative instrument where a change in the pricing level occurred from the beginning to the end of the period.
# The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have
occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of
its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a
significant portion of the Portfolio’s investments are categorized as Level 2 investments.
ING BlackRock Science and Technology Opportunities Portfolio
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
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At March 31, 2010 the following forward foreign currency contracts were outstanding for the ING BlackRock Science and Technology
Opportunities Portfolio:
In
Currency
Buy/Sell
Settlement
Exchange
Date
For
Unrealized
Appreciation
Value
(Depreciation)
Swiss Franc
CHF 63,000
BUY
4/27/10
EU Euro
EUR 600,000
BUY
4/27/10
825,364
810,414
(14,950)
British Pound
GBP 535,000
BUY
4/27/10
856,173
811,728
(44,445)
British Pound
GBP 200,000
BUY
4/27/10
299,579
303,450
3,871
Japanese Yen
JPY 86,419,000
BUY
4/27/10
958,625
924,505
(34,120)
Japanese Yen
JPY 89,793,000
BUY
4/27/10
1,002,353
960,600
(41,753)
Japanese Yen
JPY 48,210,000
BUY
4/27/10
533,786
515,747
(18,039)
Japanese Yen
JPY 12,445,000
BUY
4/27/10
138,156
133,136
(5,020)
Japanese Yen
JPY 30,000,000
BUY
4/27/10
337,594
320,938
(16,656)
Japanese Yen
JPY 30,000,000
BUY
4/27/10
337,402
320,938
(16,464)
$
59,605
$
59,762
$
157
$
(187,419)
$
12,635
Swiss Franc
CHF 2,631,000
SELL
4/27/10
EU Euro
EUR 587,000
SELL
4/27/10
828,437
792,855
35,582
British Pound
GBP 1,181,000
SELL
4/27/10
1,914,638
1,791,870
122,768
Japanese Yen
JPY 266,460,000
SELL
4/27/10
2,924,831
2,850,571
74,260
Japanese Yen
JPY 737,396,000
SELL
4/27/10
8,092,723
7,888,613
204,110
$
2,508,426
$
2,495,791
$
ING Dow Jones Euro STOXX 50® Index Portfolio
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449,355
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited)
Shares
Value
COMMON STOCK: 98.1%
Auto Manufacturers: 1.9%
DaimlerChrysler AG
334,672
$
15,729,924
15,729,924
1,407,117
3,061,896
370,226
396,586
233,093
3,614,972
277,750
6,871,212
@
@
Banks: 19.8%
Banco Bilbao Vizcaya Argentaria S.A.
Banco Santander Central Hispano S.A.
BNP Paribas
Credit Agricole S.A.
Deutsche Bank AG
Intesa Sanpaolo S.p.A.
Societe Generale
UniCredito Italiano S.p.A.
19,242,375
40,613,256
28,376,712
6,927,612
17,893,131
13,462,468
17,431,592
20,260,219
164,207,365
Beverages: 1.6%
Anheuser-Busch InBev NV
270,947
13,628,074
13,628,074
Building Materials: 1.7%
Cie de Saint-Gobain
CRH PLC
157,302
265,337
7,554,260
6,619,809
14,174,069
Chemicals: 6.5%
Air Liquide
BASF AG
Bayer AG
99,035
345,070
310,466
11,896,510
21,359,132
20,978,240
54,233,882
Cosmetics/Personal Care: 1.1%
L’Oreal S.A.
89,495
9,411,689
9,411,689
Diversified Financial Services: 0.7%
Deutsche Boerse AG
73,211
5,416,757
5,416,757
751,245
2,392,600
500,413
1,468,674
155,239
S
Electric: 10.4%
E.ON AG
Enel S.p.A.
Gaz de France
Iberdrola S.A.
RWE AG
27,774,137
13,372,164
19,344,471
12,436,309
13,771,653
86,698,734
98,456
Electrical Components & Equipment: 1.4%
Schneider Electric S.A.
11,502,634
11,502,634
365,078
Electronics: 1.4%
Koninklijke Philips Electronics NV
11,714,013
11,714,013
196,311
Engineering & Construction: 1.4%
Vinci S.A.
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11,556,876
11,556,876
Food: 5.1%
Carrefour S.A.
Groupe Danone
Unilever NV
228,787
230,030
582,997
11,023,547
13,854,010
17,637,393
42,514,950
Holding Companies - Diversified: 1.4%
LVMH Moet Hennessy Louis Vuitton S.A.
96,717
11,298,636
11,298,636
580,795
169,828
501,611
687,098
1,449,872
70,333
@
@, **
Insurance: 9.4%
Aegon NV
Allianz AG
Assicurazioni Generali S.p.A.
AXA S.A.
ING Groep NV
Muenchener Rueckversicherungs AG
3,964,755
21,255,285
12,046,174
15,243,249
14,364,752
11,409,242
78,283,457
Iron/Steel: 1.8%
ArcelorMittal
346,808
15,205,990
15,205,990
Machinery - Diversified: 0.6%
Alstom
75,963
4,729,762
4,729,762
459,471
L
Media: 1.5%
Vivendi
12,286,574
12,286,574
ING Dow Jones Euro STOXX 50® Index Portfolio
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
324,073
Value
Miscellaneous Manufacturing: 3.9%
Siemens AG
$
32,380,577
32,380,577
914,882
297,015
821,262
Oil & Gas: 9.2%
ENI S.p.A.
Repsol YPF S.A.
Total S.A.
413,165
Pharmaceuticals: 3.7%
Sanofi-Aventis
21,459,765
7,035,811
47,664,614
76,160,190
30,833,991
30,833,991
334,055
Software: 2.0%
SAP AG
16,172,980
16,172,980
1,118,501
Telecommunications: 11.6%
Deutsche Telekom AG
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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15,115,170
716,552
1,405,984
3,895,811
1,540,317
France Telecom S.A.
Nokia OYJ
Telecom Italia S.p.A.
Telefonica S.A.
17,163,446
21,911,145
5,601,427
36,497,266
96,288,454
Total Common Stock
(Cost $815,363,215)
814,429,578
REAL ESTATE INVESTMENT TRUSTS: 0.8%
34,254
Diversified: 0.8%
Unibail
6,934,740
Total Real Estate Investment Trusts
(Cost $7,262,749)
6,934,740
Total Long-Term Investments
(Cost $822,625,964)
821,364,318
SHORT-TERM INVESTMENTS: 0.3%
2,375,010
Securities Lending Collateral(cc): 0.3%
Bank of New York Mellon Corp. Institutional Cash Reserves, Series A (1)
2,375,010
Total Short-Term Investments
(Cost $2,375,010)
2,375,010
Total Investments in Securities
(Cost $825,000,974)*
Other Assets and Liabilities - Net
Net Assets
@
cc
(1)
S
L
**
*
99.2%
0.8
$
823,739,328
6,761,651
100.0%
$
830,500,979
$
35,424,388
(37,278,232)
$
(1,853,844)
Non-income producing security
Securities purchased with cash collateral for securities loaned.
Collateral received from brokers for securites lending was invested in these
short-term investments.
All or a portion of this security has been identified by the Fund to cover
future collateral requirements for applicable futures, options, swaps, foreign
currency contracts and/or when-issued or delayed-delivery securities.
Loaned security, a portion or all of the security is on loan at March 31, 2010.
Investment in affiliate
Cost for federal income tax purposes is $825,593,172.
Net unrealized depreciation consists of:
Gross Unrealized Appreciation
Gross Unrealized Depreciation
Net Unrealized Depreciation
ING Dow Jones Euro STOXX 50® Index Portfolio
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Fair Value Measurements
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
The following is a summary of the fair valuations according to the inputs used as of March 31, 2010 in valuing the Portfolio’s assets and
liabilities:
Quoted Prices
Significant Other
Significant
in Active Markets
Observable
Unobservable
Fair Value
for Identical Investments
Inputs#
Inputs
at
(Level 1)
(Level 2)
(Level 3)
3/31/2010
Asset Table
Investments, at value
Common Stock*
Real Estate Investment Trusts
Short-Term Investments
$
—
—
2,375,010
$
814,429,578
6,934,740
—
$
—
—
—
$
814,429,578
6,934,740
2,375,010
Total Investments, at value
$
2,375,010
$
821,364,318
$
—
$
823,739,328
Other Financial Instruments+:
Futures
88,513
$
Total Assets
2,463,523
—
$
88,513
—
821,364,318
$
—
$
823,827,841
+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency
contracts, futures, swaps, and written options. Forward foreign currency contracts and futures are reported at their unrealized gain/loss at
measurement date which represents the amount due to/from the Portfolio. Swaps and written options are reported at their market value at
measurement date.
* For further breakdown of Common Stock by Industry type, please refer to the Portfolio of Investments.
# The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have
occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of
its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a
significant portion of the Portfolio’s investments are categorized as Level 2 investments.
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Dow Jones Euro STOXX 50® Index Portfolio
ING Dow Jones Euro STOXX 50® Index Portfolio Open Futures Contracts on March 31, 2010:
Unrealized
Number of
Contract Description
Long Contracts
Dow Jones Euro STOXX 50®
Contracts
Appreciation/
Expiration Date
243
06/18/10
Market Value
(Depreciation)
$
9,357,262
$
88,513
$
9,357,262
$
88,513
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited)
ING FTSE 100 Index® Portfolio
Shares
Value
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
COMMON STOCK: 93.7%
953,887
306,759
507,290
S
@
Aerospace/Defense: 1.8%
BAE Systems PLC
Cobham PLC
Rolls-Royce Group PLC
$
5,377,894
1,196,277
4,592,909
11,167,080
Agriculture: 4.3%
British American Tobacco PLC
Imperial Tobacco Group PLC
540,107
275,036
18,620,417
8,391,717
27,012,134
311,090
@, L
Airlines: 0.2%
British Airways PLC
1,150,474
1,150,474
Apparel: 0.2%
Burberry Group PLC
117,027
1,268,343
1,268,343
3,273,387
4,703,363
10,805,133
4,600,643
543,916
@
Banks: 14.8%
Barclays PLC
HSBC Holdings PLC
Lloyds TSB Group PLC
Royal Bank of Scotland Group PLC
Standard Chartered PLC
17,824,173
47,663,372
10,260,138
3,047,624
14,825,663
93,620,970
Beverages: 3.3%
Diageo PLC
SABMiller PLC
681,368
318,434
11,455,728
9,340,041
20,795,769
Commercial Services: 1.7%
Aggreko PLC
Bunzl PLC
Capita Group PLC
Experian Group Ltd.
Group 4 Securicor PLC
Intertek Group PLC
Serco Group PLC
69,698
88,767
168,378
276,015
380,946
42,498
132,280
1,259,306
971,515
1,933,509
2,714,178
1,512,054
940,422
1,206,915
10,537,899
76,370
@
Distribution/Wholesale: 0.3%
Wolseley PLC
1,845,357
1,845,357
176,421
126,542
55,269
45,859
16,519
Diversified Financial Services: 0.6%
ICAP PLC
Investec PLC
London Stock Exchange Group PLC
Schroders PLC
Schroders PLC - Non Voting
1,000,073
1,034,457
595,954
979,639
288,085
3,898,208
410,846
662,149
Electric: 2.0%
International Power PLC
National Grid PLC
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Please Consider the Environment Before Printing This Document
1,994,884
6,445,598
248,991
4,163,365
Scottish & Southern Energy PLC
12,603,847
Food: 5.0%
Associated British Foods PLC
J Sainsbury PLC
Tesco PLC
Unilever PLC
WM Morrison Supermarkets PLC
107,128
499,733
2,145,826
347,529
711,400
1,592,107
2,486,102
14,187,248
10,173,774
3,166,898
31,606,129
Food Service: 0.6%
Compass Group PLC
503,385
4,018,617
4,018,617
Gas: 1.0%
Centrica PLC
1,379,201
6,158,307
6,158,307
Healthcare - Products: 0.4%
Smith & Nephew PLC
240,137
2,398,003
2,398,003
Household Products/Wares: 1.7%
Reckitt Benckiser PLC
193,870
10,651,965
10,651,965
Insurance: 3.1%
Admiral Group PLC
Aviva PLC
Legal & General Group PLC
53,674
740,946
1,585,660
1,076,071
4,328,495
2,114,418
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING FTSE 100 Index® Portfolio
Shares
Value
1,438,738
682,718
911,547
598,662
@
Insurance (continued)
Old Mutual PLC
Prudential PLC
Royal & Sun Alliance Insurance Group
Standard Life PLC
$
2,672,866
5,647,881
1,764,720
1,818,167
19,422,618
Investment Companies: 0.3%
Man Group PLC
462,962
1,694,712
1,694,712
Leisure Time: 0.6%
Carnival PLC
Thomas Cook Group PLC
TUI Travel PLC
57,498
232,187
151,225
2,360,334
951,163
692,798
4,004,295
77,405
L
Lodging: 0.2%
Intercontinental Hotels Group PLC
1,211,628
1,211,628
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Media: 2.0%
British Sky Broadcasting PLC
Pearson PLC
Reed Elsevier PLC
WPP PLC
355,637
217,639
327,974
340,452
3,249,141
3,411,949
2,612,312
3,522,926
12,796,328
Metal Fabricate/Hardware: 0.2%
Johnson Matthey PLC
58,075
1,541,675
1,541,675
358,700
106,679
597,042
104,510
58,203
57,919
51,793
24,611
413,161
36,904
591,430
@
@
L
@
Mining: 13.1%
Anglo American PLC
Antofagasta PLC
BHP Billiton PLC
Eurasian Natural Resources Corp.
Fresnillo PLC
Kazakhmys PLC
Lonmin PLC
Randgold Resources Ltd.
Rio Tinto PLC
Vedanta Resources PLC
Xstrata PLC
15,613,870
1,684,513
20,405,685
1,888,396
749,574
1,338,855
1,603,404
1,888,541
24,425,522
1,553,796
11,193,573
82,345,729
Miscellaneous Manufacturing: 0.5%
Invensys PLC
Smiths Group PLC
215,360
104,897
1,112,311
1,809,567
2,921,878
911,448
5,084,561
372,470
959,645
734,966
237,628
S
@
Oil & Gas: 18.8%
BG Group PLC
BP PLC
Cairn Energy PLC
Royal Dutch Shell PLC - Class A
Royal Dutch Shell PLC - Class B
Tullow Oil PLC
15,784,269
48,126,067
2,358,505
27,822,792
20,261,468
4,509,314
118,862,415
89,687
70,031
Oil & Gas Services: 0.4%
Amec PLC
Petrofac Ltd.
1,087,417
1,277,172
2,364,589
236,794
Packaging & Containers: 0.2%
Rexam PLC
1,052,581
1,052,581
394,795
1,417,649
151,315
Pharmaceuticals: 7.6%
AstraZeneca PLC
GlaxoSmithKline PLC
Shire PLC
17,602,216
27,211,396
3,334,750
48,148,362
236,884
633,659
429,177
Retail: 1.3%
Home Retail Group
Kingfisher PLC
Marks & Spencer Group PLC
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
974,625
2,063,146
2,412,015
53,442
47,533
Next PLC
Whitbread PLC
1,755,559
1,064,128
8,269,473
338,929
Semiconductors: 0.2%
ARM Holdings PLC
64,257
354,007
Software: 0.5%
Autonomy Corp. PLC
Sage Group PLC
1,214,856
1,214,856
@
1,775,962
1,285,281
3,061,243
2,091,949
695,186
Telecommunications: 6.2%
BT Group PLC
Cable & Wireless Worldwide
3,926,803
970,547
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING FTSE 100 Index® Portfolio
Shares
123,545
14,237,326
Value
Telecommunications (continued)
Inmarsat PLC
Vodafone Group PLC
$
1,416,826
32,929,708
39,243,884
260,676
Venture Capital: 0.2%
3i Group PLC
1,150,427
1,150,427
63,717
182,609
Water: 0.4%
Severn Trent PLC
United Utilities Group PLC
1,155,268
1,550,094
2,705,362
Total Common Stock
(Cost $543,254,968)
590,745,157
REAL ESTATE INVESTMENT TRUSTS: 1.1%
230,629
188,565
204,500
168,173
198,631
Diversified: 1.1%
British Land Co. PLC
Hammerson PLC
Land Securities Group PLC
Liberty International PLC
Segro PLC
1,681,054
1,125,241
2,102,766
1,282,567
964,978
Total Real Estate Investment Trusts
(Cost $7,271,163)
7,156,606
MUTUAL FUNDS: 0.2%
181,767
Closed-End Funds: 0.2%
Alliance Trust PLC
941,962
Total Mutual Funds
(Cost $876,055)
941,962
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
Total Long-Term Investments
(Cost $551,402,186)
598,843,725
SHORT-TERM INVESTMENTS: 0.5%
2,840,552
Securities Lending Collateral(cc): 0.5%
Bank of New York Mellon Corp. Institutional Cash Reserves, Series A (1)
2,840,552
Total Short-Term Investments
(Cost $2,840,552)
2,840,552
Total Investments in Securities
(Cost $554,242,738)*
Other Assets and Liabilities - Net
Net Assets
@
cc
(1)
S
L
*
95.5%
4.5
$
601,684,277
28,575,387
100.0%
$
630,259,664
$
56,704,541
(10,159,921)
$
46,544,620
Non-income producing security
Securities purchased with cash collateral for securities loaned.
Collateral received from brokers for securites lending was invested in these
short-term investments.
All or a portion of this security has been identified by the Fund to cover
future collateral requirements for applicable futures, options, swaps, foreign
currency contracts and/or when-issued or delayed-delivery securities.
Loaned security, a portion or all of the security is on loan at March 31, 2010.
Cost for federal income tax purposes is $555,139,657.
Net unrealized appreciation consists of:
Gross Unrealized Appreciation
Gross Unrealized Depreciation
Net Unrealized Appreciation
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING FTSE 100 Index® Portfolio
Fair Value Measurements
The following is a summary of the fair valuations according to the inputs used as of March 31, 2010 in valuing the Portfolio’s assets and
liabilities:
Asset Table
Investments, at value
Common Stock
Aerospace/Defense
Agriculture
Airlines
Apparel
Banks
$
Quoted Prices
Significant Other
Significant
in Active Markets
Observable
Unobservable
Fair Value
for Identical Investments
Inputs#
Inputs
at
(Level 1)
(Level 2)
(Level 3)
3/31/2010
—
—
—
—
—
$
11,167,080
27,012,134
1,150,474
1,268,343
93,620,970
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
$
—
—
—
—
—
$
11,167,080
27,012,134
1,150,474
1,268,343
93,620,970
Beverages
Commercial Services
Distribution/Wholesale
Diversified Financial Services
Electric
Food
Food Service
Gas
Healthcare - Products
Household Products/Wares
Insurance
Investment Companies
Leisure Time
Lodging
Media
Metal Fabricate/Hardware
Mining
Miscellaneous Manufacturing
Oil & Gas
Oil & Gas Services
Packaging & Containers
Pharmaceuticals
Retail
Semiconductors
Software
Telecommunications
Venture Capital
Water
Total Common Stock
Real Estate Investment Trusts
Mutual Funds
Short-Term Investments
Total Investments, at value
20,795,769
10,537,899
1,845,357
3,898,208
12,603,847
31,606,129
4,018,617
6,158,307
2,398,003
10,651,965
19,422,618
1,694,712
4,004,295
1,211,628
12,796,328
1,541,675
82,345,729
2,921,878
118,862,415
2,364,589
1,052,581
48,148,362
8,269,473
1,214,856
3,061,243
38,273,337
1,150,427
2,705,362
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
20,795,769
10,537,899
1,845,357
3,898,208
12,603,847
31,606,129
4,018,617
6,158,307
2,398,003
10,651,965
19,422,618
1,694,712
4,004,295
1,211,628
12,796,328
1,541,675
82,345,729
2,921,878
118,862,415
2,364,589
1,052,581
48,148,362
8,269,473
1,214,856
3,061,243
39,243,884
1,150,427
2,705,362
970,547
589,774,610
—
590,745,157
—
941,962
2,840,552
7,156,606
—
—
—
—
—
7,156,606
941,962
2,840,552
$
4,753,061
$
4,923,459
Other Financial Instruments+:
Futures
Total Assets
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
970,547
—
—
$
596,931,216
$
596,931,216
170,398
$
—
—
$
601,684,277
$
601,854,675
170,398
—
$
—
+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency
contracts, futures, swaps, and written options. Forward foreign currency contracts and futures are reported at their unrealized gain/loss at
measurement date which represents the amount due to/from the Portfolio. Swaps and written options are reported at their market value at
measurement date.
# The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have
occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of
its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a
significant portion of the Portfolio’s investments are categorized as Level 2 investments.
PORTFOLIO OF INVESTMENTS
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
ING FTSE 100 Index® Portfolio
as of March 31, 2010 (Unaudited) (continued)
ING FTSE Index Portfolio Open Futures Contracts on March 31, 2010:
Unrealized
Number of
Contract Description
Long Contracts
FTSE 100 Index
Appreciation/
Contracts
Expiration Date
393
06/18/10
Market Value
(Depreciation)
$
33,459,688
$
170,398
$
33,459,688
$
170,398
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited)
ING Hang Seng Index Portfolio
Shares
Value
COMMON STOCK: 96.8%
901,728
13,042,588
1,319,780
12,849,185
1,702,911
3,838,337
777,341
489,261
12,350,340
4,826,604
322,216
229,375
@
@
China: 36.0%
Aluminum Corp. of China Ltd.
Bank of China Ltd.
Bank of Communications Co. Ltd.
China Construction Bank
China Life Insurance Co. Ltd.
China Petroleum & Chemical Corp.
China Shenhua Energy Co. Ltd.
Foxconn International Holdings Ltd.
Industrial and Commercial Bank of China Ltd.
PetroChina Co. Ltd.
Ping An Insurance Group Co. of China Ltd.
Tencent Holdings Ltd.
$
927,920
6,937,726
1,567,841
10,504,670
8,160,537
3,152,355
3,355,005
515,151
9,395,882
5,658,342
2,769,973
4,596,010
57,541,412
392,184
846,629
269,818
317,739
250,285
1,376,601
934,991
273,286
460,000
427,654
1,079,110
291,811
412,931
4,086,714
258,697
263,379
@
S
Hong Kong: 46.8%
Bank of East Asia Ltd.
BOC Hong Kong Holdings Ltd.
Cathay Pacific Airways Ltd.
Cheung Kong Holdings Ltd.
China Merchants Holdings International Co. Ltd.
China Mobile Ltd.
China Overseas Land & Investment Ltd.
China Resources Enterprise
China Resources Land Ltd.
China Resources Power Holdings Co.
China Unicom Ltd.
Citic Pacific Ltd.
CLP Holdings Ltd.
CNOOC Ltd.
Cosco Pacific Ltd.
Esprit Holdings Ltd.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
1,440,160
2,014,452
567,555
4,085,819
919,610
13,237,997
2,107,449
1,013,615
997,596
914,320
1,210,839
696,103
2,951,369
6,747,170
391,101
2,075,724
473,706
174,943
246,024
896,495
233,841
316,822
487,464
605,514
327,643
580,176
558,241
352,555
176,091
314,637
Hang Lung Properties Ltd.
Hang Seng Bank Ltd.
Henderson Land Development Co. Ltd.
Hong Kong & China Gas
Hong Kong Exchanges and Clearing Ltd.
HongKong Electric Holdings
Hutchison Whampoa Ltd.
Li & Fung Ltd.
MTR Corp.
New World Development Ltd.
Sino Land Co.
Sun Hung Kai Properties Ltd.
Swire Pacific Ltd.
Wharf Holdings Ltd.
1,906,040
2,434,128
1,729,432
2,233,643
3,893,888
1,879,081
3,560,103
2,977,892
1,239,391
1,132,929
1,091,186
5,290,438
2,116,562
1,770,214
74,625,806
United Kingdom: 14.0%
HSBC Holdings PLC
2,192,689
22,277,724
22,277,724
Total Common Stock
(Cost $148,317,183)
154,444,942
SHORT-TERM INVESTMENTS: 0.3%
517,000
Affiliated Mutual Fund: 0.3%
ING Institutional Prime Money Market Fund - Class I
517,000
Total Short-Term Investments
(Cost $517,000)
517,000
Total Investments in Securities
(Cost $148,834,183)*
Other Assets and Liabilities - Net
Net Assets
@
S
*
Cost for federal income tax purposes is $149,635,482.
Net unrealized appreciation consists of:
Gross Unrealized Appreciation
Gross Unrealized Depreciation
154,961,942
4,635,019
100.0%
$
159,596,961
$
8,061,710
(2,735,250)
$
5,326,460
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Hang Seng Index Portfolio
Percentage of
Airlines
$
Non-income producing security
All or a portion of this security has been identified by the Fund to cover
future collateral requirements for applicable futures, options, swaps, foreign
currency contracts and/or when-issued or delayed-delivery securities.
Net Unrealized Appreciation
Industry
97.1%
2.9
Net Assets
0.4%
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Banks
Coal
Commercial Services
Distribution/Wholesale
Diversified Financial Services
Electric
Gas
Holding Companies - Diversified
Insurance
Internet
Iron/Steel
Mining
Oil & Gas
Real Estate
Retail
Telecommunications
Transportation
Short-Term Investments
Other Assets and Liabilities - Net
Net Assets
35.4
2.1
0.2
1.9
2.4
3.6
1.4
5.9
6.9
2.9
0.4
0.6
9.7
11.5
1.3
9.4
0.8
0.3
2.9
100.0%
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Hang Seng Index Portfolio
Fair Value Measurements
The following is a summary of the fair valuations according to the inputs used as of March 31, 2010 in valuing the Portfolio’s assets and
liabilities:
Asset Table
Investments, at value
Common Stock
China
Hong Kong
United Kingdom
$
Total Common Stock
Short-Term Investments
Total Investments, at value
$
Liabilities Table
Other Financial Instruments+:
Futures
Total Liabilities
Quoted Prices
Significant Other
Significant
in Active Markets
Observable
Unobservable
Fair Value
for Identical Investments
Inputs#
Inputs
at
(Level 1)
(Level 2)
(Level 3)
3/31/2010
—
1,879,081
—
$
57,541,412
72,746,725
22,277,724
—
—
—
$
57,541,412
74,625,806
22,277,724
1,879,081
152,565,861
—
154,444,942
517,000
—
—
517,000
2,396,081
$
152,565,861
(4,964)
$
$
(4,964)
$
—
$
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
—
—
$
(4,964)
—
$
—
154,961,942
$
(4,964)
+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency
contracts, futures, swaps, and written options. Forward foreign currency contracts and futures are reported at their unrealized gain/loss at
measurement date which represents the amount due to/from the Portfolio. Swaps and written options are reported at their market value at
measurement date.
# The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have
occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of
its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a
significant portion of the Portfolio’s investments are categorized as Level 2 investments.
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Hang Seng Index Portfolio
ING Hang Seng Index Portfolio Open Futures Contracts on March 31, 2010:
Unrealized
Number of
Contract Description
Appreciation/
Contracts
Long Contracts
Hang Seng Index
Expiration Date
39
04/29/10
Market Value
(Depreciation)
$
5,331,938
$
(4,964)
$
5,331,938
$
(4,964)
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited)
ING Index Plus LargeCap Portfolio
Shares
Value
COMMON STOCK: 98.0%
17,500
30,200
96,132
20,100
153,400
190,597
Aerospace/Defense: 4.2%
Boeing Co.
L-3 Communications Holdings, Inc.
Lockheed Martin Corp.
Northrop Grumman Corp.
Raytheon Co.
United Technologies Corp.
$
1,270,675
2,767,226
8,000,105
1,317,957
8,762,208
14,029,845
36,148,016
319,300
32,986
141,217
95,358
Agriculture: 2.3%
Altria Group, Inc.
Archer-Daniels-Midland Co.
Philip Morris International, Inc.
Reynolds American, Inc.
6,552,036
953,295
7,365,879
5,147,425
20,018,635
30,900
Apparel: 0.1%
Coach, Inc.
1,221,168
1,221,168
Auto Manufacturers: 0.6%
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352,800
10,100
@, L
Ford Motor Co.
Paccar, Inc.
4,434,696
437,734
4,872,430
Auto Parts & Equipment: 0.1%
Johnson Controls, Inc.
13,300
438,767
438,767
741,650
63,600
28,900
88,600
1,318,400
79,672
58,728
371,651
89,100
59,100
63,647
22,000
111,533
516,285
L
@
Banks: 9.4%
Bank of America Corp.
Bank of New York Mellon Corp.
BB&T Corp.
Capital One Financial Corp.
Citigroup, Inc.
Fifth Third Bancorp.
Goldman Sachs Group, Inc.
JPMorgan Chase & Co.
Morgan Stanley
PNC Financial Services Group, Inc.
State Street Corp.
SunTrust Bank
US Bancorp.
Wells Fargo & Co.
13,238,453
1,963,968
936,071
3,668,926
5,339,520
1,082,742
10,020,759
16,631,382
2,609,739
3,528,270
2,873,026
589,380
2,886,474
16,066,789
81,435,499
23,039
114,356
113,000
68,500
L
Beverages: 2.0%
Brown-Forman Corp.
Coca-Cola Co.
Molson Coors Brewing Co.
PepsiCo, Inc.
1,369,669
6,289,580
4,752,780
4,531,960
16,943,989
127,535
7,100
16,700
18,700
@
@
@
@
Biotechnology: 1.1%
Amgen, Inc.
Biogen Idec, Inc.
Celgene Corp.
Gilead Sciences, Inc.
7,621,492
407,256
1,034,732
850,476
9,913,956
37,000
6,800
277,100
31,200
Chemicals: 1.6%
Dow Chemical Co.
Eastman Chemical Co.
EI Du Pont de Nemours & Co.
Monsanto Co.
1,094,090
433,024
10,319,204
2,228,304
14,074,622
13,500
95,100
Coal: 0.6%
Consol Energy, Inc.
Peabody Energy Corp.
575,910
4,346,070
4,921,980
183,600
4,800
71,400
24,700
194,700
Commercial Services: 1.4%
H&R Block, Inc.
Mastercard, Inc.
Moody’s Corp.
Visa, Inc.
Western Union Co.
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3,268,080
1,219,200
2,124,150
2,248,441
3,302,112
12,161,983
75,193
293,800
302,250
303,676
156,769
@
@
@
Computers: 7.7%
Apple, Inc.
Dell, Inc.
EMC Corp.
Hewlett-Packard Co.
International Business Machines Corp.
17,665,091
4,409,938
5,452,590
16,140,379
20,105,624
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Index Plus LargeCap Portfolio
Shares
Value
22,800
57,200
@
@
Computers (continued)
Teradata Corp.
Western Digital Corp.
$
658,692
2,230,228
66,662,542
216,992
S
Cosmetics/Personal Care: 1.6%
Procter & Gamble Co.
13,729,084
13,729,084
171,900
11,852
27,600
7,900
99,700
73,400
34,100
7,800
@
@
@
Diversified Financial Services: 2.0%
American Express Co.
CME Group, Inc.
Discover Financial Services
IntercontinentalExchange, Inc.
Nasdaq Stock Market, Inc.
NYSE Euronext
SLM Corp.
T. Rowe Price Group, Inc.
7,092,594
3,746,536
411,240
886,222
2,105,664
2,173,374
426,932
428,454
17,271,016
Electric: 1.9%
Constellation Energy Group, Inc.
Dominion Resources, Inc.
DTE Energy Co.
Duke Energy Corp.
Entergy Corp.
Exelon Corp.
FirstEnergy Corp.
FPL Group, Inc.
PPL Corp.
Public Service Enterprise Group, Inc.
Southern Co.
71,200
32,300
92,922
67,000
8,000
47,200
43,300
23,000
14,600
30,200
12,700
2,499,832
1,327,853
4,144,321
1,093,440
650,800
2,067,832
1,692,597
1,111,590
404,566
891,504
421,132
16,305,467
Electrical Components & Equipment: 1.3%
Emerson Electric Co.
218,159
10,982,124
10,982,124
16,800
15,700
@
Electronics: 0.9%
Amphenol Corp.
Flir Systems, Inc.
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708,792
442,740
55,200
104,229
@
Jabil Circuit, Inc.
Thermo Fisher Scientific, Inc.
893,688
5,361,540
7,406,760
3,700
@, L
Energy - Alternate Sources: 0.1%
First Solar, Inc.
@
Engineering & Construction: 0.5%
Jacobs Engineering Group, Inc.
453,805
453,805
104,000
4,699,760
4,699,760
228,700
26,500
516,500
11,500
@
Food: 1.6%
ConAgra Foods, Inc.
Kraft Foods, Inc.
Sara Lee Corp.
Whole Foods Market, Inc.
5,733,509
801,360
7,194,845
415,725
14,145,439
Forest Products & Paper: 0.7%
International Paper Co.
MeadWestvaco Corp.
128,031
104,500
3,150,843
2,669,975
5,820,818
Gas: 0.9%
Sempra Energy
157,322
7,850,368
7,850,368
12,400
60,800
1,500
102,423
17,100
@
@
Healthcare - Products: 1.2%
Becton Dickinson & Co.
CareFusion Corp.
Intuitive Surgical, Inc.
Johnson & Johnson
Medtronic, Inc.
976,252
1,606,944
522,195
6,677,980
770,013
10,553,384
32,376
122,438
71,700
@
@
Healthcare - Services: 1.2%
Humana, Inc.
UnitedHealth Group, Inc.
WellPoint, Inc.
1,514,226
4,000,049
4,616,046
10,130,321
25,238
@, L
Home Builders: 0.0%
Pulte Homes, Inc.
283,928
283,928
Household Products/Wares: 0.8%
Kimberly-Clark Corp.
104,626
6,578,883
6,578,883
90,795
12,500
86,600
9,900
247,400
46,900
@, L
Insurance: 3.4%
Aflac, Inc.
American International Group, Inc.
Berkshire Hathaway, Inc. - Class B
Metlife, Inc.
Progressive Corp.
Prudential Financial, Inc.
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4,929,261
426,750
7,037,982
429,066
4,722,866
2,837,450
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Index Plus LargeCap Portfolio
Shares
Value
Insurance (continued)
Travelers Cos., Inc.
UnumProvident Corp.
146,069
37,061
$
7,878,962
918,001
29,180,338
22,400
67,207
18,500
18,280
5,400
57,300
@
@
@
@
@
Internet: 2.1%
Amazon.com, Inc.
eBay, Inc.
Expedia, Inc.
Google, Inc. - Class A
Priceline.com, Inc.
Yahoo!, Inc.
3,040,352
1,811,229
461,760
10,364,943
1,377,000
947,169
18,002,453
Iron/Steel: 0.2%
Cliffs Natural Resources, Inc.
Nucor Corp.
8,100
18,900
574,695
857,682
1,432,377
Lodging: 0.1%
Wynn Resorts Ltd.
5,700
432,231
432,231
Machinery - Construction & Mining: 0.1%
Caterpillar, Inc.
13,900
873,615
873,615
Machinery - Diversified: 0.0%
Deere & Co.
7,200
428,112
428,112
442,130
187,750
441,100
12,700
183,800
62,800
@
@
Media: 3.5%
Comcast Corp. — Class A
DirecTV
News Corp. - Class A
Time Warner Cable, Inc.
Viacom - Class B
Walt Disney Co.
8,320,887
6,347,828
6,356,251
677,037
6,319,044
2,192,348
30,213,395
42,400
30,100
29,300
Mining: 0.5%
Alcoa, Inc.
Freeport-McMoRan Copper & Gold, Inc.
Newmont Mining Corp.
603,776
2,514,554
1,492,249
4,610,579
57,500
36,500
82,900
1,064,894
89,300
Miscellaneous Manufacturing: 4.9%
3M Co.
Dover Corp.
Eaton Corp.
General Electric Co.
Honeywell International, Inc.
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4,805,275
1,706,375
6,281,333
19,381,070
4,042,611
107,741
5,775,995
ITT Corp.
41,992,659
154,000
414,700
Office/Business Equipment: 0.9%
Pitney Bowes, Inc.
Xerox Corp.
11,400
11,400
41,800
226,758
50,400
11,600
13,500
332,739
6,800
208,600
37,000
10,400
173,000
25,000
48,200
Oil & Gas: 7.4%
Anadarko Petroleum Corp.
Apache Corp.
Chesapeake Energy Corp.
Chevron Corp.
ConocoPhillips
Devon Energy Corp.
EOG Resources, Inc.
ExxonMobil Corp.
Hess Corp.
Nabors Industries Ltd.
Occidental Petroleum Corp.
Questar Corp.
Rowan Cos., Inc.
Southwestern Energy Co.
XTO Energy, Inc.
3,765,300
4,043,325
7,808,625
@
@
@
830,262
1,157,100
988,152
17,195,059
2,578,968
747,388
1,254,690
22,286,858
425,340
4,094,818
3,127,980
449,280
5,036,030
1,018,000
2,274,076
63,464,001
Oil & Gas Services: 1.3%
Halliburton Co.
National Oilwell Varco, Inc.
Schlumberger Ltd.
Smith International, Inc.
19,500
124,304
79,900
20,500
587,535
5,044,256
5,070,454
877,810
11,580,055
Packaging & Containers: 0.2%
Bemis Co.
68,933
1,979,756
1,979,756
274,734
117,308
16,200
176,600
11,800
67,900
L
@
@
Pharmaceuticals: 7.2%
Abbott Laboratories
AmerisourceBergen Corp.
Bristol-Myers Squibb Co.
Cardinal Health, Inc.
Express Scripts, Inc.
Forest Laboratories, Inc.
14,472,987
3,392,547
432,540
6,362,898
1,200,768
2,129,344
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Index Plus LargeCap Portfolio
Shares
97,972
51,000
202,862
Value
@
Pharmaceuticals (continued)
McKesson Corp.
Medco Health Solutions, Inc.
Merck & Co., Inc.
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$
6,438,720
3,292,560
7,576,896
990,262
Pfizer, Inc.
16,982,993
62,282,253
Pipelines: 0.8%
Williams Cos., Inc.
315,300
7,283,430
7,283,430
69,900
@
Real Estate: 0.1%
CB Richard Ellis Group, Inc.
1,107,915
1,107,915
123,500
48,800
50,800
181,631
40,300
40,100
144,800
12,800
76,500
60,500
157,134
125,800
17,700
123,300
106,652
@
@
@
@
Retail: 5.9%
Best Buy Co., Inc.
CVS Caremark Corp.
GameStop Corp.
Gap, Inc.
Home Depot, Inc.
Kohl’s Corp.
Limited Brands, Inc.
McDonald’s Corp.
Ross Stores, Inc.
Starbucks Corp.
Target Corp.
TJX Cos., Inc.
Urban Outfitters, Inc.
Walgreen Co.
Wal-Mart Stores, Inc.
5,253,690
1,784,128
1,113,028
4,197,492
1,303,705
2,196,678
3,564,976
854,016
4,090,455
1,468,335
8,265,248
5,349,016
673,131
4,573,197
5,929,851
50,616,946
Savings & Loans: 0.3%
Hudson City Bancorp., Inc.
164,702
2,332,180
2,332,180
Semiconductors: 2.4%
Broadcom Corp.
Intel Corp.
Texas Instruments, Inc.
Xilinx, Inc.
71,200
286,310
260,000
234,000
2,362,416
6,373,261
6,362,200
5,967,000
21,064,877
232,162
168,900
159,000
766,816
470,226
7,300
@
@
@
Software: 5.5%
CA, Inc.
Compuware Corp.
Intuit, Inc.
Microsoft Corp.
Oracle Corp.
Salesforce.com, Inc.
5,448,842
1,418,760
5,460,060
22,444,704
12,080,106
543,485
47,395,957
738,256
485,870
35,935
23,200
57,100
90,216
259,100
@
@
@
Telecommunications: 5.1%
AT&T, Inc.
Cisco Systems, Inc.
Harris Corp.
Juniper Networks, Inc.
Motorola, Inc.
Qualcomm, Inc.
Qwest Communications International, Inc.
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19,076,535
12,647,196
1,706,553
711,776
400,842
3,788,170
1,352,502
172,000
120,116
@
Sprint Nextel Corp.
Verizon Communications, Inc.
653,600
3,725,998
44,063,172
Transportation: 0.3%
CSX Corp.
Expeditors International Washington, Inc.
Ryder System, Inc.
Union Pacific Corp.
8,200
11,200
10,300
14,800
417,380
413,504
399,228
1,084,840
2,314,952
Total Common Stock
(Cost $757,479,206)
845,484,622
REAL ESTATE INVESTMENT TRUSTS: 1.1%
21,800
L
Forestry: 0.1%
Plum Creek Timber Co., Inc.
848,238
848,238
35,800
Health Care: 0.1%
HCP, Inc.
1,181,400
1,181,400
69,820
Regional Malls: 0.7%
Simon Property Group, Inc.
5,857,898
5,857,898
6,400
Storage: 0.1%
Public Storage, Inc.
588,736
588,736
29,700
Warehouse/Industrial: 0.1%
ProLogis
392,040
392,040
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Index Plus LargeCap Portfolio
Shares
Value
Warehouse/Industrial (continued)
Total Real Estate Investment Trusts
(Cost $5,856,330)
Total Long-Term Investments
(Cost $763,335,536)
$
8,868,312
854,352,934
SHORT-TERM INVESTMENTS: 1.7%
7,277,000
6,323,378
Affiliated Mutual Fund: 0.8%
ING Institutional Prime Money Market Fund - Class I
7,277,000
Total Mutual Fund
(Cost $7,277,000)
7,277,000
Securities Lending Collateral(cc): 0.9%
Bank of New York Mellon Corp. Institutional Cash Reserves, Series A (1)
6,323,378
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1,608,803
I
Bank of New York Mellon Corp. Institutional Cash Reserves, Series B (1)(2)
1,287,042
Total Securities Lending Collateral
(Cost $7,932,181)
7,610,420
Total Short-Term Investments
(Cost $15,209,181)
@
cc
(1)
(2)
I
S
L
*
14,887,420
Total Investments in Securities
(Cost $778,544,717)*
Other Assets and Liabilities - Net
100.8%
(0.8)
$
869,240,354
(6,556,270)
Net Assets
100.0%
$
862,684,084
$
105,583,584
(47,312,592)
$
58,270,992
Non-income producing security
Securities purchased with cash collateral for securities loaned.
Collateral received from brokers for securites lending was invested in these
short-term investments.
On September 12, 2008, BNY established a separate sleeve of the
Institutional Cash Reserves Fund (Series B) to hold certain Lehman Brothers
defaulted debt obligations. The Fund’s position in Series B is being fair
valued daily.
Illiquid Security
All or a portion of this security has been identified by the Fund to cover
future collateral requirements for applicable futures, options, swaps, foreign
currency contracts and/or when-issued or delayed-delivery securities.
Loaned security, a portion or all of the security is on loan at March 31, 2010.
Cost for federal income tax purposes is $810,969,362.
Net unrealized appreciation consists of:
Gross Unrealized Appreciation
Gross Unrealized Depreciation
Net Unrealized Appreciation
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Index Plus LargeCap Portfolio
Fair Value Measurements
The following is a summary of the fair valuations according to the inputs used as of March 31, 2010 in valuing the Portfolio’s assets and
liabilities:
Asset Table
Investments, at value
Common Stock*
Real Estate Investment Trusts
Short-Term Investments
$
Quoted Prices
Significant Other
Significant
in Active Markets
Observable
Unobservable
Fair Value
for Identical Investments
Inputs
Inputs
at
(Level 1)
(Level 2)
(Level 3)
3/31/2010
845,484,622
8,868,312
13,600,378
$
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Please Consider the Environment Before Printing This Document
—
—
—
$
—
—
1,287,042
$
845,484,622
8,868,312
14,887,420
$
Total Investments, at value
867,953,312
Other Financial Instruments+:
Futures
$
52,049
$
Total Assets
$
—
1,287,042
—
868,005,361
$
$
869,240,354
52,049
—
$
—
1,287,042
$
869,292,403
The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio’s assets and liabilities
during the period ended February 28, 2010:
Beginning Balance
12/31/2009
Purchases
Sales
Accrued Discounts/
Total Realized
Total Unrealized Appreciation/
Transfers Into
Transfers Out of
Ending Balance
(Premiums)
Gain/(Loss)
(Depreciation)
Level 3
Level 3
3/31/2010
Asset Table
Investments, at value
Short-Term Investments
$
1,287,042 $
— $
— $
— $
— $
— $
— $
— $
1,287,042
Total Investments, at value
$
1,287,042 $
— $
— $
— $
— $
— $
— $
— $
1,287,042
As of March 31, 2010, total change in unrealized gain (loss) on Level 3 securities still held at period end and included in the change in net
assets was $0.
+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency
contracts, futures, swaps, and written options. Forward foreign currency contracts and futures are reported at their unrealized gain/loss at
measurement date which represents the amount due to/from the Portfolio. Swaps and written options are reported at their market value at
measurement date.
Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any security or
derivative instrument where a change in the pricing level occurred from the beginning to the end of the period.
* For further breakdown of Common Stock by Industry type, please refer to the Portfolio of Investments.
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Index Plus LargeCap Portfolio
ING Index Plus LargeCap Portfolio Open Futures Contracts on March 31, 2010:
Unrealized
Number of
Contract Description
Long Contracts
S&P 500®
Appreciation/
Contracts
Expiration Date
32
06/17/10
Market Value
(Depreciation)
$
9,321,600
$
52,049
$
9,321,600
$
52,049
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited)
ING Index Plus MidCap Portfolio
Shares
Value
COMMON STOCK: 90.2%
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Please Consider the Environment Before Printing This Document
Advertising: 0.3%
Harte-Hanks, Inc.
140,042
$
1,800,940
1,800,940
28,000
@
Aerospace/Defense: 0.1%
BE Aerospace, Inc.
852,600
852,600
Agriculture: 0.6%
Universal Corp.
81,574
4,298,134
4,298,134
164,881
104,144
@, L
@
Apparel: 1.2%
Timberland Co.
Warnaco Group, Inc.
3,518,561
4,968,710
8,487,271
Auto Manufacturers: 0.5%
Oshkosh Truck Corp.
88,300
3,562,022
3,562,022
160,865
94,814
94,261
406,500
154,000
66,700
131,264
70,637
L
Banks: 4.3%
Bancorpsouth, Inc.
Commerce Bancshares, Inc.
Cullen/Frost Bankers, Inc.
Fulton Financial Corp.
International Bancshares Corp.
Prosperity Bancshares, Inc.
Trustmark Corp.
Westamerica Bancorp.
3,371,730
3,900,648
5,259,764
4,142,235
3,540,460
2,734,700
3,206,780
4,072,223
30,228,540
44,200
@
Beverages: 0.3%
Hansen Natural Corp.
1,917,396
1,917,396
44,785
53,750
@
@
Biotechnology: 1.0%
Bio-Rad Laboratories, Inc.
Vertex Pharmaceuticals, Inc.
4,636,143
2,196,763
6,832,906
117,500
32,664
82,656
31,846
243,919
69,400
185,499
S
Chemicals: 4.3%
Ashland, Inc.
Cytec Industries, Inc.
Lubrizol Corp.
Olin Corp.
RPM International, Inc.
Terra Industries, Inc.
Valspar Corp.
6,200,475
1,526,715
7,581,208
624,819
5,205,231
3,175,744
5,468,511
29,782,703
114,806
@
Coal: 0.3%
Patriot Coal Corp.
2,348,931
2,348,931
110,300
64,857
178,600
L
@, L
@
Commercial Services: 6.0%
Aaron Rents, Inc.
Career Education Corp.
Convergys Corp.
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3,677,402
2,052,075
2,189,636
282,872
118,953
120,680
12,949
21,128
85,400
212,500
26,658
581,300
30,600
25,900
@, L
@, L
@
@
@
S
Corinthian Colleges, Inc.
FTI Consulting, Inc.
Global Payments, Inc.
Hewitt Associates, Inc.
ITT Educational Services, Inc.
Lender Processing Services, Inc.
Rent-A-Center, Inc.
Rollins, Inc.
Service Corp. International
Sotheby’s
Towers Watson & Co.
4,975,718
4,677,232
5,496,974
515,111
2,376,477
3,223,850
5,025,625
577,945
5,336,334
951,354
1,230,250
42,305,983
152,123
96,700
167,168
@
Computers: 2.0%
Diebold, Inc.
DST Systems, Inc.
Micros Systems, Inc.
4,831,426
4,008,215
5,496,484
14,336,125
118,645
283,044
@, S
@
Distribution/Wholesale: 1.4%
Fossil, Inc.
Ingram Micro, Inc.
4,477,662
4,967,422
9,445,084
72,076
14,493
184,312
@, L
Diversified Financial Services: 1.6%
Affiliated Managers Group, Inc.
Eaton Vance Corp.
Raymond James Financial, Inc.
5,694,004
486,095
4,928,503
11,108,602
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Index Plus MidCap Portfolio
Shares
135,048
77,322
129,936
92,759
Value
L
Electric: 1.6%
Black Hills Corp.
Hawaiian Electric Industries
Idacorp, Inc.
PNM Resources, Inc.
$
4,098,707
1,735,879
4,498,384
1,162,270
11,495,240
75,955
108,878
@
Electrical Components & Equipment: 1.5%
Energizer Holdings, Inc.
Hubbell, Inc.
4,766,936
5,490,718
10,257,654
199,687
218,297
108,433
117,305
319,174
@
@
@
@
@
Electronics: 4.0%
Arrow Electronics, Inc.
Avnet, Inc.
Tech Data Corp.
Thomas & Betts Corp.
Vishay Intertechnology, Inc.
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6,016,569
6,548,910
4,543,343
4,603,048
3,265,150
100,300
Woodward Governor Co.
3,207,594
28,184,614
98,670
164,389
132,988
@
@
Engineering & Construction: 2.1%
KBR, Inc.
Shaw Group, Inc.
URS Corp.
2,186,527
5,658,269
6,597,536
14,442,332
Entertainment: 0.1%
International Speedway Corp.
25,283
651,543
651,543
70,362
95,893
50,643
@
@
Food: 1.7%
Lancaster Colony Corp.
Ralcorp Holdings, Inc.
Smithfield Foods, Inc.
4,148,544
6,499,628
1,050,336
11,698,508
Gas: 3.1%
AGL Resources, Inc.
National Fuel Gas Co.
Southern Union Co.
UGI Corp.
WGL Holdings, Inc.
143,813
6,644
245,521
206,553
124,280
5,558,372
335,854
6,228,868
5,481,917
4,306,302
21,911,313
Hand/Machine Tools: 0.4%
Regal-Beloit Corp.
52,709
3,131,442
3,131,442
24,523
19,114
286,606
72,948
107,810
145,134
@
@
@
@
Healthcare - Products: 2.7%
Henry Schein, Inc.
Hill-Rom Holdings, Inc.
Hologic, Inc.
Immucor, Inc.
Kinetic Concepts, Inc.
Steris Corp.
1,444,405
520,092
5,313,675
1,633,306
5,154,396
4,885,210
18,951,084
104,862
131,701
30,200
98,598
10,700
90,812
@
@
@, L
@
@
Healthcare - Services: 2.1%
Community Health Systems, Inc.
Kindred Healthcare, Inc.
LifePoint Hospitals, Inc.
Lincare Holdings, Inc.
Universal Health Services, Inc.
WellCare Health Plans, Inc.
3,872,554
2,377,203
1,110,756
4,425,078
375,463
2,706,198
14,867,252
191,000
105,290
7,201
84,499
58,600
L
L
@
@
Home Builders: 2.2%
KB Home
MDC Holdings, Inc.
NVR, Inc.
Ryland Group, Inc.
Toll Brothers, Inc.
3,199,250
3,644,087
5,231,527
1,896,158
1,218,880
15,189,902
126,093
Household Products/Wares: 0.8%
American Greetings Corp.
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2,627,778
55,149
2,659,285
Tupperware Corp.
5,287,063
171,727
77,994
84,655
47,317
255,622
125,424
110,171
165,796
L
Insurance: 5.5%
American Financial Group, Inc.
Everest Re Group Ltd.
Hanover Insurance Group, Inc.
HCC Insurance Holdings, Inc.
Protective Life Corp.
Reinsurance Group of America, Inc.
Stancorp Financial Group, Inc.
Unitrin, Inc.
4,885,633
6,312,054
3,691,805
1,305,949
5,621,128
6,587,268
5,247,445
4,650,578
38,301,860
205,257
72,967
5,461
@
@
@
Internet: 1.1%
AOL, Inc.
Digital River, Inc.
F5 Networks, Inc.
5,188,897
2,210,900
335,906
7,735,703
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Index Plus MidCap Portfolio
Shares
Value
71,656
Investment Companies: 0.1%
Apollo Investment Corp.
$
912,181
912,181
119,408
Iron/Steel: 0.8%
Reliance Steel & Aluminum Co.
5,878,456
5,878,456
68,289
65,232
Machinery - Construction & Mining: 1.2%
Bucyrus International, Inc.
Joy Global, Inc.
4,506,391
3,692,131
8,198,522
152,400
43,700
Machinery - Diversified: 1.1%
IDEX Corp.
Nordson Corp.
5,044,440
2,968,104
8,012,544
108,753
84,320
Media: 1.0%
John Wiley & Sons, Inc.
Scholastic Corp.
4,706,830
2,360,960
7,067,790
185,684
57,332
185,554
Metal Fabricate/Hardware: 1.9%
Timken Co.
Valmont Industries, Inc.
Worthington Industries
5,572,377
4,748,810
3,208,229
13,529,416
129,100
Miscellaneous Manufacturing: 5.3%
Aptargroup, Inc.
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5,080,085
137,300
130,115
130,212
157,174
169,162
73,941
L
Carlisle Cos., Inc.
Crane Co.
Donaldson Co., Inc.
Harsco Corp.
Pentair, Inc.
SPX Corp.
5,231,130
4,619,083
5,875,165
5,020,138
6,025,550
4,903,767
36,754,918
130,244
124,607
32,579
11,154
83,166
50,549
@
@
@
@
@
@
Oil & Gas: 2.0%
Atwood Oceanics, Inc.
Bill Barrett Corp.
Newfield Exploration Co.
Pride International, Inc.
Quicksilver Resources, Inc.
Unit Corp.
4,510,350
3,826,681
1,695,737
335,847
1,170,146
2,137,212
13,675,973
83,440
250,549
91,014
@
@
@
Oil & Gas Services: 1.6%
Exterran Holdings, Inc.
Helix Energy Solutions Group, Inc.
Oceaneering International, Inc.
2,016,745
3,264,653
5,778,479
11,059,877
46,094
75,309
179,892
28,332
Packaging & Containers: 1.7%
Packaging Corp. of America
Silgan Holdings, Inc.
Sonoco Products Co.
Temple-Inland, Inc.
129,240
179,128
69,829
201,971
128,889
131,488
Pharmaceuticals: 4.3%
Endo Pharmaceuticals Holdings, Inc.
Medicis Pharmaceutical Corp.
NBTY, Inc.
Omnicare, Inc.
Perrigo Co.
Valeant Pharmaceuticals International
1,134,373
4,535,861
5,538,875
578,823
11,787,932
@
@
@, L
3,061,696
4,506,860
3,350,395
5,713,760
7,568,362
5,642,150
29,843,223
Real Estate: 0.1%
Jones Lang LaSalle, Inc.
13,573
989,336
989,336
161,700
122,640
211,803
81,892
46,642
153,099
15,313
246,200
80,539
128,435
190,933
36,951
@
@
@
@
@
Retail: 6.5%
99 Cents Only Stores
Advance Auto Parts, Inc.
Aeropostale, Inc.
Barnes & Noble, Inc.
Bob Evans Farms, Inc.
Brinker International, Inc.
Carmax, Inc.
Chico’s FAS, Inc.
Collective Brands, Inc.
Dollar Tree, Inc.
Petsmart, Inc.
Regis Corp.
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2,635,710
5,141,069
6,106,280
1,770,505
1,441,704
2,951,749
384,663
3,550,204
1,831,457
7,605,921
6,102,219
690,245
757,000
60,589
S
Wendy’s/Arby’s Group, Inc. - Class A
Williams-Sonoma, Inc.
3,785,000
1,592,885
45,589,611
Savings & Loans: 1.4%
New York Community Bancorp., Inc.
NewAlliance Bancshares, Inc.
328,797
329,100
5,438,302
4,153,242
9,591,544
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Index Plus MidCap Portfolio
Shares
Value
24,670
84,505
143,500
214,510
@
@
@, L
Semiconductors: 1.2%
Cree, Inc.
Fairchild Semiconductor International, Inc.
Intersil Corp.
Semtech Corp.
$
1,732,327
899,978
2,118,060
3,738,909
8,489,274
16,404
226,563
10,568
167,620
168,700
125,825
@
@
@
@
Software: 2.7%
ACI Worldwide, Inc.
Broadridge Financial Solutions ADR
Cerner Corp.
Fair Isaac Corp.
Quest Software, Inc.
Sybase, Inc.
338,086
4,843,917
898,914
4,247,491
3,001,173
5,865,962
19,195,543
398,370
618,678
91,185
187,011
149,540
880,527
84,900
@
@
@
@
@, S
Telecommunications: 3.5%
3Com Corp.
Cincinnati Bell, Inc.
CommScope, Inc.
NeuStar, Inc.
Plantronics, Inc.
RF Micro Devices, Inc.
Telephone & Data Systems, Inc.
3,063,465
2,109,692
2,555,004
4,712,677
4,677,611
4,385,024
2,873,865
24,377,338
79,353
74,404
L
Transportation: 1.0%
Landstar System, Inc.
Tidewater, Inc.
3,331,239
3,517,077
6,848,316
Total Common Stock
(Cost $535,091,628)
631,214,541
REAL ESTATE INVESTMENT TRUSTS: 6.8%
42,236
39,987
15,700
160,900
Apartments: 1.1%
BRE Properties, Inc.
Camden Property Trust
Essex Property Trust, Inc.
UDR, Inc.
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1,509,937
1,664,659
1,412,215
2,838,276
7,425,087
869
126,931
67,547
S
Diversified: 0.5%
Cousins Properties, Inc.
Duke Realty Corp.
Liberty Property Trust
7,221
1,573,944
2,292,545
3,873,710
Forestry: 0.2%
Potlatch Corp.
44,410
1,556,126
1,556,126
80,100
91,700
Health Care: 0.7%
Nationwide Health Properties, Inc.
Senior Housing Properties Trust
57,300
Hotels: 0.2%
Hospitality Properties Trust
2,815,515
2,031,155
4,846,670
1,372,335
1,372,335
44,242
42,300
35,680
38,175
40,900
Office Property: 1.4%
Alexandria Real Estate Equities, Inc.
Corporate Office Properties Trust SBI MD
Highwoods Properties, Inc.
Mack-Cali Realty Corp.
SL Green Realty Corp.
56,716
Paper & Related Products: 0.4%
Rayonier, Inc.
2,990,759
1,697,499
1,132,126
1,345,669
2,342,343
9,508,396
2,576,608
2,576,608
Regional Malls: 0.3%
Macerich Co.
62,524
2,395,294
2,395,294
43,906
43,000
42,700
114,972
L
L
Shopping Centers: 1.1%
Equity One, Inc.
Federal Realty Investment Trust
Regency Centers Corp.
Weingarten Realty Investors
829,384
3,130,830
1,599,969
2,478,796
8,038,979
94,500
Single Tenant: 0.4%
Realty Income Corp.
2,900,205
2,900,205
117,610
Warehouse/Industrial: 0.5%
AMB Property Corp.
3,203,696
3,203,696
Total Real Estate Investment Trusts
(Cost $35,116,665)
ING Index Plus MidCap Portfolio
47,697,106
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
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Please Consider the Environment Before Printing This Document
Shares
Value
Warehouse/Industrial (continued)
Total Long-Term Investments
(Cost $570,208,293)
$
678,911,647
SHORT-TERM INVESTMENTS: 6.6%
20,094,000
23,839,969
2,851,192
I
@
ADR
cc
(1)
(2)
I
S
L
*
Affiliated Mutual Fund: 2.9%
ING Institutional Prime Money Market Fund - Class I
20,094,000
Total Mutual Fund
(Cost $20,094,000)
20,094,000
Securities Lending Collateral(cc): 3.7%
Bank of New York Mellon Corp. Institutional Cash Reserves, Series A (1)
Bank of New York Mellon Corp. Institutional Cash Reserves, Series B (1)(2)
23,839,969
2,280,954
Total Securities Lending Collateral
(Cost $26,691,161)
26,120,923
Total Short-Term Investments
(Cost $46,785,161)
46,214,923
Total Investments in Securities
(Cost $616,993,454)*
Other Assets and Liabilities - Net
103.6%
(3.6)
$
725,126,570
(24,995,617)
Net Assets
100.0%
$
700,130,953
$
114,905,730
(15,546,550)
$
99,359,180
Non-income producing security
American Depositary Receipt
Securities purchased with cash collateral for securities loaned.
Collateral received from brokers for securites lending was invested in these
short-term investments.
On September 12, 2008, BNY established a separate sleeve of the
Institutional Cash Reserves Fund (Series B) to hold certain Lehman Brothers
defaulted debt obligations. The Fund’s position in Series B is being fair
valued daily.
Illiquid Security
All or a portion of this security has been identified by the Fund to cover
future collateral requirements for applicable futures, options, swaps, foreign
currency contracts and/or when-issued or delayed-delivery securities.
Loaned security, a portion or all of the security is on loan at March 31, 2010.
Cost for federal income tax purposes is $625,767,390.
Net unrealized appreciation consists of:
Gross Unrealized Appreciation
Gross Unrealized Depreciation
Net Unrealized Appreciation
ING Index Plus MidCap Portfolio
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
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Fair Value Measurements
The following is a summary of the fair valuations according to the inputs used as of March 31, 2010 in valuing the Portfolio’s assets and
liabilities:
Quoted Prices
Significant Other
Significant
in Active Markets
Observable
Unobservable
Fair Value
for Identical Investments
Inputs
Inputs
at
(Level 1)
(Level 2)
(Level 3)
3/31/2010
Asset Table
Investments, at value
Common Stock*
Real Estate Investment Trusts
Short-Term Investments
$
631,214,541
47,697,106
43,933,969
$
—
—
—
$
—
—
2,280,954
$
631,214,541
47,697,106
46,214,923
Total Investments, at value
$
722,845,616
$
—
$
2,280,954
$
725,126,570
Other Financial Instruments+:
Futures
243,999
$
Total Assets
—
723,089,615
$
243,999
—
$
—
2,280,954
$
725,370,569
The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio’s assets and liabilities
during the period ended February 28, 2010:
Beginning Balance
12/31/2009
Purchases
Sales
Accrued Discounts/
Total Realized
Total Unrealized Appreciation/
Transfers Into
Transfers Out of
Ending Balance
(Premiums)
Gain/(Loss)
(Depreciation)
Level 3
Level 3
3/31/2010
Asset Table
Investments, at value
Short-Term Investments
$
2,280,954 $
— $
— $
— $
— $
— $
— $
— $
2,280,954
Total Investments, at value
$
2,280,954 $
— $
— $
— $
— $
— $
— $
— $
2,280,954
As of March 31, 2010, total change in unrealized gain (loss) on Level 3 securities still held at period end and included in the change in net
assets was $0.
+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency
contracts, futures, swaps, and written options. Forward foreign currency contracts and futures are reported at their unrealized gain/loss at
measurement date which represents the amount due to/from the Portfolio. Swaps and written options are reported at their market value at
measurement date.
Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any security or
derivative instrument where a change in the pricing level occurred from the beginning to the end of the period.
* For further breakdown of Common Stock by Industry type, please refer to the Portfolio of Investments.
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Index Plus MidCap Portfolio
ING Index Plus MidCap Portfolio Open Futures Contracts on March 31, 2010:
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
Unrealized
Number of
Contract Description
Appreciation/
Contracts
Long Contracts
S&P MidCap 400® Index
Expiration Date
56
06/17/10
Market Value
(Depreciation)
$
22,066,800
$
243,999
$
22,066,800
$
243,999
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited)
ING Index Plus SmallCap Portfolio
Shares
Value
COMMON STOCK: 91.3%
24,960
@
Advertising: 0.2%
inVentiv Health, Inc.
$
560,602
560,602
940
31,863
6,541
30,321
162,800
5,225
12,128
11,304
42,488
5,190
27,282
@
@
@, L
@
@
@
Aerospace/Defense: 2.7%
AAR Corp.
Cubic Corp.
Curtiss-Wright Corp.
Esterline Technologies Corp.
Gencorp, Inc.
Kaman Corp.
Moog, Inc.
National Presto Industries, Inc.
Orbital Sciences Corp.
Teledyne Technologies, Inc.
Triumph Group, Inc.
23,331
1,147,068
227,627
1,498,767
937,728
130,677
429,574
1,344,159
807,697
214,191
1,912,195
8,673,014
81,800
38,953
@, L
Agriculture: 0.5%
Alliance One International, Inc.
Andersons, Inc.
416,362
1,304,146
1,720,508
22,160
84,347
@, L
Airlines: 0.8%
Allegiant Travel Co.
Skywest, Inc.
1,282,178
1,204,475
2,486,653
63,216
49,108
18,879
123,187
9,721
52,414
25,103
@
@
@
@
@
@
Apparel: 3.0%
Carter’s, Inc.
CROCS, Inc.
Deckers Outdoor Corp.
Iconix Brand Group, Inc.
Skechers USA, Inc.
True Religion Apparel, Inc.
Wolverine World Wide, Inc.
1,905,962
430,677
2,605,302
1,892,152
353,067
1,591,289
732,003
9,510,452
Auto Parts & Equipment: 0.9%
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53,003
82,808
43,763
69,600
@
S
ATC Technology Corp.
Spartan Motors, Inc.
Standard Motor Products, Inc.
Superior Industries International
909,531
463,725
434,129
1,119,168
2,926,553
89,638
37,153
15,164
35,200
70,867
12,669
24,150
36,375
42,810
19,408
55,738
32,439
33,660
22,630
166,355
23,291
12,308
56,857
47,415
S
L
L
@
L
L
L
Banks: 5.7%
Bank Mutual Corp.
Bank of the Ozarks, Inc.
Boston Private Financial Holdings, Inc.
City Holding Co.
Community Bank System, Inc.
First Financial Bancorp.
First Financial Bankshares, Inc.
Hancock Holding Co.
Independent Bank Corp.
NBT Bancorp., Inc.
Signature Bank
Simmons First National Corp.
Sterling Bancorp.
Tompkins Financial Corp.
Trustco Bank Corp.
UMB Financial Corp.
United Bankshares, Inc.
Wilshire Bancorp., Inc.
Wintrust Financial Corp.
582,647
1,307,414
111,759
1,207,008
1,614,350
225,382
1,244,933
1,520,839
1,055,695
443,473
2,065,093
894,343
338,283
825,542
1,026,410
945,615
322,716
627,133
1,764,312
18,122,947
11,885
7,600
@
@, L
Beverages: 0.3%
Boston Beer Co., Inc.
Peet’s Coffee & Tea, Inc.
621,110
301,340
922,450
31,200
59,414
16,040
23,414
70,234
9,771
@, L
@, S
@
@
@
@
Biotechnology: 0.9%
Arqule, Inc.
Cambrex Corp.
Cubist Pharmaceuticals, Inc.
Enzo Biochem, Inc.
Martek Biosciences Corp.
Regeneron Pharmaceuticals, Inc.
179,712
240,627
361,542
140,952
1,580,967
258,834
2,762,634
42,253
53,405
Building Materials: 2.3%
AAON, Inc.
Apogee Enterprises, Inc.
955,763
844,333
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Index Plus SmallCap Portfolio
Shares
Value
Building Materials (continued)
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105,000
47,271
10,224
49,808
65,688
35,600
@
@
Comfort Systems USA, Inc.
Drew Industries, Inc.
Gibraltar Industries, Inc.
NCI Building Systems, Inc.
Quanex Building Products Corp.
Universal Forest Products, Inc.
$
1,311,450
1,040,907
128,925
549,880
1,085,823
1,371,312
7,288,393
1,983
9,086
70,162
16,830
43,062
153,826
35,336
58,426
19,969
19,678
@
@
Chemicals: 3.3%
Arch Chemicals, Inc.
Balchem Corp.
HB Fuller Co.
NewMarket Corp.
OM Group, Inc.
PolyOne Corp.
Quaker Chemical Corp.
Schulman A, Inc.
Stepan Co.
Zep, Inc.
68,195
223,970
1,628,460
1,733,322
1,458,941
1,575,178
957,959
1,429,684
1,116,067
430,555
10,622,331
66,976
5,349
22,772
40,300
30,069
13,094
55,851
50,570
25,905
56,888
25,866
51,262
65,115
45,900
57,159
@
@
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@
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@
@
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S
@
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@
Commercial Services: 4.4%
ABM Industries, Inc.
Capella Education Co.
Consolidated Graphics, Inc.
Forrester Research, Inc.
Geo Group, Inc.
Hillenbrand, Inc.
Kendle International, Inc.
Live Nation, Inc.
MAXIMUS, Inc.
On Assignment, Inc.
Pre-Paid Legal Services, Inc.
SFN Group, Inc.
TeleTech Holdings, Inc.
Universal Technical Institute, Inc.
Wright Express Corp.
1,419,891
496,601
942,989
1,211,821
595,968
287,937
976,275
733,265
1,578,392
405,611
979,028
410,609
1,112,164
1,047,438
1,721,629
13,919,618
65,547
40,421
178,994
9,000
34,500
96,105
52,479
10,952
21,080
36,878
38,970
28,963
36,556
@
@
@, L
L
@
@
@
@
@
@
@
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Computers: 3.0%
Agilysys, Inc.
CACI International, Inc.
Ciber, Inc.
Compellent Technologies, Inc.
Hutchinson Technology, Inc.
Insight Enterprises, Inc.
Manhattan Associates, Inc.
Mercury Computer Systems, Inc.
Netscout Systems, Inc.
Radiant Systems, Inc.
Radisys Corp.
SYKES Enterprises, Inc.
Synaptics, Inc.
732,160
1,974,566
669,438
157,950
215,280
1,380,068
1,337,165
150,261
311,773
526,249
349,171
661,515
1,009,311
9,474,907
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175,014
4,097
19,855
4,899
@, S
@
@
Distribution/Wholesale: 0.9%
Brightpoint, Inc.
School Specialty, Inc.
United Stationers, Inc.
Watsco, Inc.
1,317,855
93,043
1,168,467
278,655
2,858,020
117,732
9,907
1,868
40,988
@
@
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Diversified Financial Services: 1.2%
National Financial Partners Corp.
Stifel Financial Corp.
SWS Group, Inc.
World Acceptance, Corp.
1,660,021
532,501
21,538
1,478,847
3,692,907
3,737
2,401
18,609
7,274
52,886
L
@
Electric: 0.8%
Avista Corp.
CH Energy Group, Inc.
El Paso Electric Co.
UIL Holdings Corp.
Unisource Energy Corp.
77,393
98,057
383,345
200,035
1,662,736
2,421,566
Electrical Components & Equipment: 0.6%
Belden CDT, Inc.
Encore Wire Corp.
60,078
6,632
1,649,742
137,946
1,787,688
3,763
11,745
101,230
65,437
78,682
126,299
53,072
@
@
L
Electronics: 4.4%
American Science & Engineering, Inc.
Bel Fuse, Inc.
Benchmark Electronics, Inc.
Brady Corp.
Checkpoint Systems, Inc.
CTS Corp.
Daktronics, Inc.
281,924
236,662
2,099,510
2,036,399
1,740,446
1,189,737
404,409
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Index Plus SmallCap Portfolio
Shares
1,967
22,461
124,422
43,925
10,844
27,245
72,112
46,300
Value
@
@
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Electronics (continued)
Dionex Corp.
Electro Scientific Industries, Inc.
Newport Corp.
Park Electrochemical Corp.
Plexus Corp.
Technitrol, Inc.
TTM Technologies, Inc.
Watts Water Technologies, Inc.
$
147,092
287,725
1,555,275
1,262,405
390,709
143,854
640,355
1,438,078
13,854,580
Engineering & Construction: 1.4%
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51,004
85,292
36,359
29,100
@, S
@
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@
Dycom Industries, Inc.
EMCOR Group, Inc.
Exponent, Inc.
Stanley, Inc.
447,305
2,100,742
1,036,959
823,239
4,408,245
4,124
17,553
78,594
@
@, S
@
Environmental Control: 0.6%
Calgon Carbon Corp.
Darling International, Inc.
Tetra Tech, Inc.
70,603
157,275
1,810,806
2,038,684
14,427
6,851
33,402
29,044
6,995
@
Food: 1.2%
Diamond Foods, Inc.
J&J Snack Foods Corp.
Nash Finch Co.
Sanderson Farms, Inc.
United Natural Foods, Inc.
606,511
297,813
1,123,977
1,557,049
196,769
3,782,119
94,047
22,200
31,326
11,396
@
@
Forest Products & Paper: 1.1%
Buckeye Technologies, Inc.
Clearwater Paper Corp.
Neenah Paper, Inc.
Schweitzer-Mauduit International, Inc.
1,230,135
1,093,350
496,204
541,994
3,361,683
Gas: 1.6%
Laclede Group, Inc.
New Jersey Resources Corp.
Piedmont Natural Gas Co.
Southwest Gas Corp.
39,602
15,259
86,161
29,016
1,335,379
573,128
2,376,320
868,159
5,152,986
102,950
36,400
7,430
47,440
7,412
30,900
53,938
41,870
9,311
87,117
6,560
@
@
@
@
@
@
@, S
Healthcare - Products: 2.7%
American Medical Systems Holdings, Inc.
Cantel Medical Corp.
Cooper Cos., Inc.
Cyberonics
Haemonetics Corp.
Hanger Orthopedic Group, Inc.
Invacare Corp.
Kensey Nash Corp.
PSS World Medical, Inc.
Symmetry Medical, Inc.
West Pharmaceutical Services, Inc.
1,912,811
722,540
288,878
908,950
423,596
561,762
1,431,515
987,713
218,902
874,655
275,192
8,606,514
4,103
12,925
41,811
64,492
65,643
82,211
48,279
@
@
@, L
@
@
@
@
Healthcare - Services: 6.6%
Air Methods Corp.
Almost Family, Inc.
Amedisys, Inc.
AMERIGROUP Corp.
Amsurg Corp.
Centene Corp.
Gentiva Health Services, Inc.
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139,502
487,143
2,308,803
2,143,714
1,417,232
1,976,352
1,365,330
86,550
32,240
47,950
52,043
31,350
81,892
40,839
@
@, L
@
@, S
@
@
@
Healthspring, Inc.
LHC Group, Inc.
Magellan Health Services, Inc.
Mednax, Inc.
Molina Healthcare, Inc.
Odyssey HealthCare, Inc.
RehabCare Group, Inc.
1,523,280
1,081,007
2,084,866
3,028,382
789,080
1,483,064
1,113,680
20,941,435
63,900
36,684
134,419
@, L
@
@, S
Home Builders: 0.7%
M/I Homes, Inc.
Meritage Homes Corp.
Standard-Pacific Corp.
936,135
770,364
607,574
2,314,073
113,162
24,530
@
@
Home Furnishings: 0.6%
La-Z-Boy, Inc.
Universal Electronics, Inc.
1,419,051
548,000
1,967,051
128,075
57,414
@, S
@
Household Products/Wares: 0.8%
Central Garden & Pet Co.
Helen of Troy Ltd.
1,173,167
1,496,209
2,669,376
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Index Plus SmallCap Portfolio
Shares
Value
Housewares: 0.4%
Toro Co.
26,982
$
1,326,705
1,326,705
36,243
46,745
25,640
27,365
42,092
35,144
65,758
@
L
@
Insurance: 2.9%
American Physicians Capital, Inc.
Amerisafe, Inc.
Delphi Financial Group
Infinity Property & Casualty Corp.
ProAssurance Corp.
Safety Insurance Group, Inc.
Tower Group, Inc.
1,157,964
765,216
645,102
1,243,466
2,464,066
1,323,874
1,457,855
9,057,543
11,280
64,648
58,695
58,996
11,469
79,878
40,442
141,680
@
@, S
@
@
L
@
@
Internet: 1.7%
Cybersource Corp.
eResearch Technology, Inc.
Infospace, Inc.
j2 Global Communications, Inc.
Nutri/System, Inc.
Perficient, Inc.
Stamps.com, Inc.
United Online, Inc.
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198,979
446,718
648,580
1,380,506
204,263
900,225
408,464
1,059,766
2,034
@
Websense, Inc.
46,314
5,293,815
Leisure Time: 0.4%
Polaris Industries, Inc.
24,131
1,234,542
1,234,542
44,631
16,871
7,241
16,443
@
Machinery - Diversified: 0.7%
Briggs & Stratton Corp.
Gardner Denver, Inc.
Gerber Scientific, Inc.
Lindsay Manufacturing Co.
870,305
742,999
44,967
680,905
2,339,176
Metal Fabricate/Hardware: 0.6%
Lawson Products
Mueller Industries, Inc.
9,718
61,655
150,337
1,651,737
1,802,074
7,237
43,607
@
Mining: 0.2%
Amcol International Corp.
Century Aluminum Co.
196,846
600,032
796,878
7,633
37,600
32,489
8,676
30,489
962
105,778
31,071
77,330
20,452
45,851
73,100
@
@
L
Miscellaneous Manufacturing: 3.0%
Acuity Brands, Inc.
AO Smith Corp.
AZZ, Inc.
Ceradyne, Inc.
Clarcor, Inc.
ESCO Technologies, Inc.
Griffon Corp.
John Bean Technologies Corp.
Myers Industries, Inc.
Standex International Corp.
Sturm Ruger & Co., Inc.
Tredegar Corp.
322,189
1,976,632
1,099,753
196,858
1,051,566
30,601
1,317,994
544,985
810,418
527,048
549,753
1,248,548
9,676,345
17,628
23,247
53,864
@
@
Oil & Gas: 0.7%
Petroleum Development Corp.
St. Mary Land & Exploration Co.
Stone Energy Corp.
408,441
809,228
956,086
2,173,755
10,167
45,133
15,087
83,109
25,412
7,896
130,652
@
@, L
@
@
@
@
Oil & Gas Services: 1.9%
Dril-Quip, Inc.
Gulf Island Fabrication, Inc.
Hornbeck Offshore Services, Inc.
Matrix Service Co.
Oil States International, Inc.
SEACOR Holdings, Inc.
Tetra Technologies, Inc.
618,560
981,643
280,166
894,253
1,152,180
636,891
1,596,567
6,160,260
47,075
Packaging & Containers: 0.7%
Rock-Tenn Co.
2,145,208
2,145,208
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10,580
61,863
83,008
1,800
8,333
@
@
@, L
@
@
Pharmaceuticals: 1.2%
Catalyst Health Solutions, Inc.
Par Pharmaceutical Cos., Inc.
PharMerica Corp.
Salix Pharmaceuticals Ltd.
Viropharma, Inc.
437,800
1,534,202
1,512,406
67,050
113,579
3,665,037
64,772
@
Real Estate: 0.4%
Forestar Real Estate Group, Inc.
1,222,895
1,222,895
Retail: 13.1%
Big 5 Sporting Goods Corp.
50,124
762,887
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Index Plus SmallCap Portfolio
Shares
1,551
34,396
93,762
6,522
62,693
44,438
68,739
41,600
35,855
20,585
43,136
84,148
86,358
27,826
102,512
39,468
49,384
36,113
19,774
32,130
44,896
29,622
75,888
7,637
26,696
29,998
49,064
4,897
Value
@, L
L
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Retail (continued)
BJ’s Restaurants, Inc.
Buckle, Inc.
Cabela’s, Inc.
California Pizza Kitchen, Inc.
Casey’s General Stores, Inc.
Cash America International, Inc.
Cato Corp.
Childrens Place Retail Stores, Inc.
Cracker Barrel Old Country Store
DineEquity, Inc.
Dress Barn, Inc.
Ezcorp, Inc.
Finish Line
First Cash Financial Services, Inc.
Fred’s, Inc.
Genesco, Inc.
Group 1 Automotive, Inc.
Gymboree Corp.
Haverty Furniture Cos., Inc.
HSN, Inc.
Jo-Ann Stores, Inc.
JoS. A Bank Clothiers, Inc.
Lithia Motors, Inc.
MarineMax, Inc.
Men’s Wearhouse, Inc.
Papa John’s International, Inc.
PEP Boys-Manny Moe & Jack
PetMed Express, Inc.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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$
36,138
1,264,397
1,639,897
109,504
1,968,560
1,754,412
1,473,764
1,853,280
1,662,955
813,725
1,128,438
1,733,449
1,409,363
600,207
1,228,094
1,223,903
1,573,374
1,864,514
322,712
945,907
1,884,734
1,618,842
485,683
82,174
639,102
771,249
493,093
108,566
30,700
75,719
60,283
95,506
1,321
36,038
516
45,830
64,300
71,380
@
@
@
@
@
@
@, S
PF Chang’s China Bistro, Inc.
Ruby Tuesday, Inc.
Sonic Automotive, Inc.
Stage Stores, Inc.
Steak N Shake Co/The
Stein Mart, Inc.
Texas Roadhouse, Inc.
Tractor Supply Co.
Tuesday Morning Corp.
World Fuel Services Corp.
1,354,791
800,350
663,113
1,469,837
503,658
325,423
7,167
2,660,432
423,737
1,901,563
41,562,994
Savings & Loans: 0.6%
Brookline Bancorp., Inc.
Dime Community Bancshares
61,700
94,365
656,488
1,191,830
1,848,318
40,694
194,397
58,132
233,299
949
46,248
36,285
68,620
185,548
35,800
24,937
30,672
9,018
@
@
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@
@
@
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Semiconductors: 3.9%
Cabot Microelectronics Corp.
Cypress Semiconductor Corp.
DSP Group, Inc.
Kopin Corp.
Micrel, Inc.
Microsemi Corp.
Pericom Semiconductor Corp.
Sigma Designs, Inc.
Skyworks Solutions, Inc.
Tessera Technologies, Inc.
Triquint Semiconductor, Inc.
Varian Semiconductor Equipment Associates, Inc.
Veeco Instruments, Inc.
1,539,454
2,235,566
484,240
863,206
10,116
801,940
388,612
804,913
2,894,548
726,024
174,559
1,015,857
392,283
12,331,318
18,460
8,030
10,428
29,148
36,139
4,968
49,768
38,450
@
@
@
@
@
@, S
@, L
Software: 1.1%
Bowne & Co., Inc.
Commvault Systems, Inc.
Concur Technologies, Inc.
CSG Systems International
Digi International, Inc.
Eclipsys Corp.
Smith Micro Software, Inc.
SYNNEX Corp.
206,014
171,441
427,652
610,942
384,519
98,764
439,949
1,136,582
3,475,863
11,407
32,680
29,421
158,522
23,112
15,379
49,800
65,514
79,714
@, S
@
@
@
@
@
@
Telecommunications: 3.6%
Adaptec, Inc.
Anixter International, Inc.
Applied Signal Technology, Inc.
Arris Group, Inc.
Black Box Corp.
Comtech Telecommunications
EMS Technologies, Inc.
Netgear, Inc.
Neutral Tandem, Inc.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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37,301
1,531,058
576,063
1,903,849
710,925
491,974
826,680
1,709,915
1,273,830
79,630
27,958
41,059
4,162
@
@
@
Novatel Wireless, Inc.
NTELOS Holdings Corp.
Symmetricom, Inc.
Tekelec
535,910
497,373
239,374
75,582
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Index Plus SmallCap Portfolio
Shares
Value
83,800
@
Telecommunications (continued)
USA Mobility, Inc.
$
1,061,746
11,471,580
Textiles: 0.5%
Unifirst Corp.
30,809
1,586,664
1,586,664
40,187
@
Transportation: 0.5%
Bristow Group, Inc.
1,516,256
1,516,256
Total Common Stock
(Cost $247,297,028)
289,535,215
REAL ESTATE INVESTMENT TRUSTS: 5.4%
Apartments: 0.9%
Home Properties, Inc.
Mid-America Apartment Communities, Inc.
Post Properties, Inc.
10,092
40,222
5,346
472,306
2,083,097
117,719
2,673,122
Diversified: 0.6%
Colonial Properties Trust
Entertainment Properties Trust
PS Business Parks, Inc.
99,235
6,958
3,290
1,278,147
286,183
175,686
1,740,016
Health Care: 1.3%
Healthcare Realty Trust, Inc.
LTC Properties, Inc.
Medical Properties Trust, Inc.
84,398
42,531
104,924
1,965,629
1,150,889
1,099,604
4,216,122
63,238
16,692
5,126
38,404
L
Office Property: 0.7%
BioMed Realty Trust, Inc.
Franklin Street Properties Corp.
Kilroy Realty Corp.
Parkway Properties, Inc.
1,045,957
240,866
158,086
721,227
2,166,136
3,748
8,644
S
Shopping Centers: 0.4%
Acadia Realty Trust
Cedar Shopping Centers, Inc.
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66,939
68,374
7,754
41,403
Tanger Factory Outlet Centers, Inc.
Urstadt Biddle Properties, Inc.
334,663
654,581
1,124,557
Single Tenant: 0.1%
National Retail Properties, Inc.
18,691
426,716
426,716
Storage: 0.9%
Extra Space Storage, Inc.
Sovran Self Storage, Inc.
137,698
35,096
1,746,011
1,223,447
2,969,458
Warehouse/Industrial: 0.5%
EastGroup Properties, Inc.
43,006
1,623,046
1,623,046
Total Real Estate Investment Trusts
(Cost $15,160,804)
16,939,173
Total Long-Term Investments
(Cost $262,457,832)
306,474,388
SHORT-TERM INVESTMENTS: 8.4%
10,295,000
15,177,881
1,429,266
I
@
cc
(1)
(2)
Affiliated Mutual Fund: 3.2%
ING Institutional Prime Money Market Fund - Class I
10,295,000
Total Mutual Fund
(Cost $10,295,000)
10,295,000
Securities Lending Collateral(cc): 5.2%
Bank of New York Mellon Corp. Institutional Cash Reserves, Series A (1)
Bank of New York Mellon Corp. Institutional Cash Reserves, Series B (1)(2)
15,177,881
1,143,413
Total Securities Lending Collateral
(Cost $16,607,147)
16,321,294
Total Short-Term Investments
(Cost $26,902,147)
26,616,294
Total Investments in Securities
(Cost $289,359,979)*
Other Assets and Liabilities - Net
105.1%
(5.1)
$
333,090,682
(16,071,787)
Net Assets
100.0%
$
317,018,895
Non-income producing security
Securities purchased with cash collateral for securities loaned.
Collateral received from brokers for securites lending was invested in these
short-term investments.
On September 12, 2008, BNY established a separate sleeve of the
Institutional Cash Reserves Fund (Series B) to hold certain Lehman Brothers
defaulted debt obligations. The Fund’s position in Series B is being fair
valued daily.
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I
S
L
*
Illiquid Security
All or a portion of this security has been identified by the Fund to cover
future collateral requirements for applicable futures, options, swaps, foreign
currency contracts and/or when-issued or delayed-delivery securities.
Loaned security, a portion or all of the security is on loan at March 31, 2010.
Cost for federal income tax purposes is $296,403,955.
Net unrealized appreciation consists of:
Gross Unrealized Appreciation
Gross Unrealized Depreciation
Net Unrealized Appreciation
$
51,091,521
(14,404,794)
$
36,686,727
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Index Plus SmallCap Portfolio
Fair Value Measurements
The following is a summary of the fair valuations according to the inputs used as of March 31, 2010 in valuing the Portfolio’s assets and
liabilities:
Quoted Prices
Significant Other
Significant
in Active Markets
Observable
Unobservable
Fair Value
for Identical Investments
Inputs
Inputs
at
(Level 1)
(Level 2)
(Level 3)
3/31/2010
Asset Table
Investments, at value
Common Stock*
Real Estate Investment Trusts
Short-Term Investments
$
289,535,215
16,939,173
25,472,881
$
—
—
—
$
—
—
1,143,413
$
289,535,215
16,939,173
26,616,294
Total Investments, at value
$
331,947,269
$
—
$
1,143,413
$
333,090,682
Other Financial Instruments+:
Futures
94,805
$
Total Assets
—
332,042,074
$
—
94,805
—
$
1,143,413
$
333,185,487
The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio’s assets and liabilities
during the period ended February 28, 2010:
Beginning
Accrued
Total
Total Unrealized
Transfers
Transfers
Ending
Balance
Discounts/
Realized
Appreciation/
Into
Out of
Balance
(Premiums)
Gain/(Loss)
(Depreciation)
Level 3
Level 3
3/31/2010
12/31/2009
Purchases
Sales
Asset Table
Investments, at value
Short-Term Investments
$
1,143,413
$
—
$
—
$
—
$
—
$
—
$
—
$
—
$
1,143,413
Total Investments, at value
$
1,143,413
$
—
$
—
$
—
$
—
$
—
$
—
$
—
$
1,143,413
As of March 31, 2010, total change in unrealized gain (loss) on Level 3 securities still held at period end and included in the change in net
assets was $0.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency
contracts, futures, swaps, and written options. Forward foreign currency contracts and futures are reported at their unrealized gain/loss at
measurement date which represents the amount due to/from the Portfolio. Swaps and written options are reported at their market value at
measurement date.
Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any security or
derivative instrument where a change in the pricing level occurred from the beginning to the end of the period.
* For further breakdown of Common Stock by Industry type, please refer to the Portfolio of Investments.
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Index Plus SmallCap Portfolio
ING Index Plus SmallCap Portfolio Open Futures Contracts on March 31, 2010:
Unrealized
Number of
Contract Description
Long Contracts
Russell 2000® Mini Index
Contracts
167
Appreciation/
Expiration Date
06/18/10
Market Value
(Depreciation)
$
11,307,570
$
94,805
$
11,307,570
$
94,805
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited)
ING International Index Portfolio
Shares
Value
COMMON STOCK: 92.0%
12,636
56,947
40,739
68,064
22,863
90,109
5,238
80,117
32,827
13,579
106,673
@
@
Australia: 7.6%
AGL Energy Ltd.
Alumina Ltd.
Amcor Ltd.
AMP Ltd.
Arrow Energy NL
Asciano Group
ASX Ltd.
Australia & New Zealand Banking Group Ltd.
AXA Asia Pacific Holdings Ltd.
Bendigo Bank Ltd.
BHP Billiton Ltd.
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$
174,120
89,267
238,744
390,539
105,429
156,345
162,936
1,862,114
190,382
124,489
4,278,840
6,214
62,185
16,598
43,961
5,743
16,051
1,639
48,730
12,959
13,100
18,950
39,170
40,029
58,701
40,098
17,753
54,961
69,712
66,745
4,819
13,413
19,409
17,223
10,963
86,115
23,022
65,677
15,159
6,478
43,338
11,277
29,215
110,402
11,974
35,123
33,161
13,888
26,089
5,113
13,488
57,749
41,467
15,461
47,440
138,306
18,000
40,783
32,350
5,252
94,107
17,543
L
@
L
L
@
@
Billabong International Ltd.
BlueScope Steel Ltd.
Boral Ltd.
Brambles Ltd.
Caltex Australia Ltd.
Coca-Cola Amatil Ltd.
Cochlear Ltd.
Commonwealth Bank of Australia
Computershare Ltd.
Crown Ltd.
CSL Ltd.
CSR Ltd.
Fortescue Metals Group Ltd.
Foster’s Group Ltd.
Goodman Fielder Ltd.
Harvey Norman Holdings Ltd.
Incitec Pivot Ltd.
Insurance Australia Group
John Fairfax Holdings Ltd.
Leighton Holdings Ltd.
Lend Lease Corp. Ltd.
Macquarie Airports Management Ltd.
Macquarie Atlas Roads Group
Macquarie Group Ltd.
Macquarie Infrastructure Group
Metcash Ltd.
National Australia Bank Ltd.
Newcrest Mining Ltd.
Nufarm Ltd.
OneSteel Ltd.
Orica Ltd.
Origin Energy Ltd.
Oxiana Ltd.
Paladin Resources Ltd.
Qantas Airways Ltd.
QBE Insurance Group Ltd.
Rio Tinto Ltd.
Santos Ltd.
Sims Group Ltd.
Sonic Healthcare Ltd.
SP AusNet
Suncorp-Metway Ltd.
TABCORP Holdings Ltd.
Tattersall’s Ltd.
Telstra Corp. Ltd.
Toll Holdings Ltd.
Transurban Group
Wesfarmers Ltd.
Wesfarmers Ltd. - Price Protected Shares
Westpac Banking Corp.
Woodside Petroleum Ltd.
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64,246
165,800
85,327
296,543
59,499
165,589
109,422
2,513,153
148,693
98,215
632,955
59,442
179,732
284,582
52,507
58,850
174,608
247,925
110,117
172,123
106,493
54,970
14,856
474,112
88,228
87,383
1,657,100
457,041
48,836
154,973
276,792
443,446
116,106
43,372
91,362
633,043
997,671
351,138
100,754
177,780
47,908
324,528
97,771
107,017
379,226
122,404
188,875
942,638
153,428
2,400,863
754,967
38,388
5,667
Woolworths Ltd.
WorleyParsons Ltd.
986,022
132,254
26,465,890
6,082
15,860
2,564
4,858
1,372
9,642
3,814
1,247
@
L
L
Austria: 0.3%
Erste Bank der Oesterreichischen Sparkassen AG
Immoeast Immobilien Anlagen AG
Oesterreichische Elektrizitaetswirtschafts AG
OMV AG
Raiffeisen International Bank Holding AG
Telekom Austria AG
Voestalpine AG
Wiener Staedtische Allgemeine Versicherung AG
254,800
86,915
101,586
182,141
65,177
134,815
153,776
65,661
1,044,871
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING International Index Portfolio
Shares
Value
23,359
4,599
443
3,145
18,662
65,769
2,532
5,182
1,087
1,136
2,096
3,705
2,970
@
@
@
Belgium: 0.9%
Anheuser-Busch InBev NV
Belgacom S.A.
Colruyt S.A.
Delhaize Group
Dexia S.A.
Fortis
Groupe Bruxelles Lambert S.A.
KBC Groep NV
Mobistar S.A.
Nationale A Portefeuille
Solvay S.A.
UCB S.A.
Umicore
$
1,174,909
179,625
109,036
252,419
110,929
232,852
223,629
249,593
66,898
59,554
215,166
158,070
103,603
3,136,283
Bermuda: 0.1%
SeaDrill Ltd. ADR
8,022
187,734
187,734
62,473
@
China: 0.0%
Foxconn International Holdings Ltd.
65,779
65,779
Cyprus: 0.0%
Bank of Cyprus Public Co. Ltd
Bank of Cyprus Public Co. Ltd.
4,390
13,353
27,770
84,234
112,004
27
52
3,560
L
Denmark: 0.9%
AP Moller - Maersk A/S - Class A
AP Moller - Maersk A/S - Class B
Carlsberg A/S
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196,458
396,307
298,454
822
14,953
6,808
13,887
1,602
732
6,666
840
@
L
@
@
Coloplast A/S
Danske Bank A/S
DSV A/S
Novo-Nordisk A/S
Novozymes A/S
TrygVesta A/S
Vestas Wind Systems A/S
William Demant Holding
90,459
366,904
121,558
1,072,012
177,228
48,297
362,660
59,398
3,189,735
3,430
13,797
2,434
4,497
3,426
3,417
118,677
4,112
4,230
3,801
4,560
14,113
2,587
22,490
18,566
2,737
L
L
L
@
Finland: 1.2%
Elisa OYJ
Fortum OYJ
Kesko OYJ
Kone OYJ
Metso OYJ
Neste Oil OYJ
Nokia OYJ
Nokian Renkaat OYJ
OKO Bank
Orion OYJ
Outokumpu OYJ
Sampo OYJ
Sanoma-WSOY OYJ
Stora Enso OYJ (Euro Denominated Security)
UPM-Kymmene OYJ
Wartsila OYJ
70,695
337,665
95,806
185,865
110,573
59,616
1,849,487
106,769
47,472
83,979
100,208
374,144
57,297
171,215
246,186
138,591
4,035,568
4,705
1,073
5,550
7,935
68,530
6,486
1,837
54,040
30,272
7,161
1,657
4,702
19,972
1,832
2,121
12,273
6,327
1,149
3,662
4,599
30,144
2,328
1,127
@
@
@
@
France: 9.1%
Accor S.A.
ADP
Air France-KLM
Air Liquide
Alcatel S.A.
Alstom
Atos Origin
AXA S.A.
BNP Paribas
Bouygues S.A.
Bureau Veritas S.A.
Capgemini S.A.
Carrefour S.A.
Casino Guichard Perrachon S.A.
Christian Dior S.A.
Cie de Saint-Gobain
Cie Generale D’Optique Essilor International S.A.
CNP Assurances
Compagnie Generale de Geophysique S.A.
Compagnie Generale des Etablissements Michelin
Credit Agricole S.A.
Dassault Systemes S.A.
Eiffage S.A.
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260,357
88,282
87,671
953,186
215,539
403,844
92,269
1,198,876
2,320,258
359,283
87,911
231,182
962,302
154,832
226,101
589,398
404,042
108,434
103,686
338,713
526,559
137,656
58,276
7,437
165
1,310
2,637
Electricite de France
Eramet SLN
Eurazeo
Eutelsat Communications
405,418
56,609
90,657
93,744
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING International Index Portfolio
Shares
58,686
39,908
17,393
14,900
1,588
369
1,319
939
1,942
6,179
3,226
1,974
7,484
7,970
2,177
30,059
1,269
4,679
6,318
4,262
2,437
3,713
5,940
4,731
33,467
7,513
5,146
1,206
746
20,144
4,379
2,707
7,468
3,468
2,783
66,906
1,894
12,632
Value
L
@, S
@
S
@
France (continued)
France Telecom S.A.
Gaz de France
Groupe Danone
Groupe Eurotunnel S.A.
Hermes International
Iliad S.A.
Imerys S.A.
Ipsen
JC Decaux SA
Lafarge S.A.
Lagardere SCA
Legrand S.A.
L’Oreal S.A.
LVMH Moet Hennessy Louis Vuitton S.A.
M6-Metropole Television
Natixis
Neopost S.A.
PagesJaunes Groupe S.A.
Pernod-Ricard S.A.
Peugeot S.A.
PPR
Publicis Groupe
Renault S.A.
Safran S.A.
Sanofi-Aventis
Schneider Electric S.A.
Scor S.A.
Societe BIC S.A.
Societe Des Autoroutes Paris-Rhin-Rhone
Societe Generale
Societe Television Francaise (T.F.1)
Sodexho Alliance S.A.
Suez Environnement S.A.
Technip S.A.
Thales S.A.
Total S.A.
Vallourec
Veolia Environnement
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$
1,405,696
1,542,724
1,047,528
151,800
220,613
38,001
81,147
45,852
54,167
434,031
130,403
62,337
787,050
931,068
56,195
161,139
101,409
53,692
536,086
125,209
323,989
158,685
277,531
123,260
2,497,601
877,745
130,151
92,423
53,811
1,264,238
81,120
161,439
171,773
281,512
111,747
3,883,108
382,194
436,921
13,806
38,364
Vinci S.A.
Vivendi
812,763
1,025,880
31,669,123
6,417
14,386
29,059
26,270
1,728
10,338
3,139
3,357
19,962
28,700
18,515
6,182
5,546
26,721
2,971
91,469
60,022
1,429
1,772
3,088
6,022
2,728
1,934
4,294
5,086
6,480
1,373
35,052
5,643
4,792
3,397
1,802
3,411
6,194
2,856
158
13,152
1,249
1,272
26,581
25,968
S
L
@
S
@
@
@
L
L
S
ING International Index Portfolio
Germany: 7.3%
Adidas AG
Allianz AG
BASF AG
Bayer AG
Bayerische Motoren Werke AG
Bayerische Motoren Werke AG
Beiersdorf AG
Celesio AG
Commerzbank AG
DaimlerChrysler AG
Deutsche Bank AG
Deutsche Boerse AG
Deutsche Lufthansa AG
Deutsche Post AG
Deutsche Postbank AG
Deutsche Telekom AG
E.ON AG
Fraport AG Frankfurt Airport Services Worldwide
Fresenius AG
Fresenius AG PFD
Fresenius Medical Care AG & Co. KGaA
GEA Group AG
Hannover Rueckversicheru - Reg
HeidelbergCement AG
Henkel KGaA
Henkel KGaA - Vorzug
Hochtief AG
Infineon Technologies AG
K+S AG
Linde AG
MAN AG
Merck KGaA
Metro AG
Muenchener Rueckversicherungs AG
Porsche AG
Puma AG Rudolf Dassler Sport
RWE AG
RWE AG PFD
Salzgitter AG
SAP AG
Siemens AG
343,072
1,800,519
1,798,693
1,775,068
61,292
476,927
187,661
107,292
170,082
1,348,929
1,421,284
457,396
91,923
462,802
95,074
1,236,091
2,219,062
75,127
131,920
233,202
339,299
63,194
95,358
239,010
235,437
349,009
115,211
242,752
341,952
571,586
284,141
146,097
202,370
1,004,775
173,807
50,046
1,166,748
102,492
117,859
1,286,896
2,594,659
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
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Shares
3,322
3,087
9,939
12,133
4,652
1,379
3,344
365
Value
L
L
Germany (continued)
Solarworld AG
Suedzucker AG
ThyssenKrupp AG
TUI AG
United Internet AG
Volkswagen AG
Volkswagen AG PFD
Wacker Chemie AG
$
49,947
68,045
340,810
136,171
70,587
133,277
306,488
54,464
25,375,903
14,476
6,324
9,075
4,149
7,986
20,620
19,866
7,992
11,763
4,573
1,936
@
@
@
@
Greece: 0.4%
Alpha Bank AE
Coca-Cola Hellenic Bottling Co. S.A.
EFG Eurobank Ergasias S.A.
Hellenic Petroleum S.A.
Hellenic Telecommunications Organization S.A.
Marfin Investment Group S.A.
National Bank of Greece S.A.
OPAP S.A.
Piraeus Bank S.A.
Public Power Corp.
Titan Cement Co. S.A.
137,411
170,230
83,350
47,568
99,254
47,324
400,663
181,623
102,761
80,317
51,260
1,401,761
74,565
@
Guernsey: 0.0%
Resolution Ltd.
92,839
92,839
5,846
41,605
115,410
49,053
44,383
17,236
24,353
64,603
38,879
24,617
66,682
24,073
34,656
127,316
3,200
31,954
42,302
68,615
20,702
17,818
76,361
114,000
L
@
@
Hong Kong: 2.1%
ASM Pacific Technology
Bank of East Asia Ltd.
BOC Hong Kong Holdings Ltd.
Cathay Pacific Airways Ltd.
Cheung Kong Holdings Ltd.
Cheung Kong Infrastructure Holdings Ltd.
Chinese Estates Holdings Ltd.
CLP Holdings Ltd.
Esprit Holdings Ltd.
Hang Lung Group Ltd.
Hang Lung Properties Ltd.
Hang Seng Bank Ltd.
Henderson Land Development Co. Ltd.
Hong Kong & China Gas
Hong Kong Aircraft Engineerg Co. Ltd.
Hong Kong Exchanges and Clearing Ltd.
HongKong Electric Holdings
Hutchison Whampoa Ltd.
Hysan Development Co. Ltd.
Kerry Properties Ltd.
Li & Fung Ltd.
Mongolia Energy Corp. Ltd.
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55,281
152,780
274,604
103,182
570,723
66,676
40,702
461,741
306,410
130,387
268,307
334,948
243,615
317,211
40,377
532,094
250,894
501,117
59,791
95,432
375,540
52,600
44,658
85,235
27,000
32,042
185,000
47,331
55,858
44,915
24,579
10,845
40,264
21,882
4,818
23,143
@
I, X
MTR Corp.
New World Development Ltd.
Noble Group Ltd.
NWS Holdings Ltd.
PCCW Ltd.
Shangri-La Asia Ltd.
Sino Land Co.
Sun Hung Kai Properties Ltd.
Swire Pacific Ltd.
Television Broadcasts Ltd.
Wharf Holdings Ltd.
Wheelock & Co. Ltd.
Wing Hang Bank Ltd.
Yue Yuen Industrial Holdings
168,930
166,441
58,951
63,876
55,052
92,769
109,185
673,994
295,432
52,500
226,534
64,435
44,016
81,695
7,388,222
22,445
20,941
4,042
12,718
@
@
Ireland: 0.3%
CRH PLC
Elan Corp. PLC
Kerry Group PLC
Ryanair Holdings PLC
559,891
158,660
125,606
63,224
907,381
45,157
37,825
7,566
80,229
9,971
19,814
22,316
209,327
82,224
2,938
23,340
12,342
2,861
L
@
Italy: 2.9%
AEM S.p.A.
Assicurazioni Generali S.p.A.
Autostrade S.p.A.
Banca Monte dei Paschi di Siena S.p.A.
Banca Popolare di Milano Scrl
Banche Popolari Unite Scpa
Banco Popolare Scarl
Enel S.p.A.
ENI S.p.A.
Exor S.p.A.
Fiat S.p.A
Finmeccanica S.p.A.
Fondiaria-Sai S.p.A.
84,646
908,366
176,675
118,597
61,907
267,268
154,918
1,169,922
1,928,672
51,047
303,726
164,688
42,986
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING International Index Portfolio
Shares
247,277
24,342
3,605
20,739
16,250
7,064
Value
@
@
Italy (continued)
Intesa Sanpaolo S.p.A.
Intesa Sanpaolo S.p.A. - RNC
Luxottica Group S.p.A.
Mediaset S.p.A.
Mediobanca S.p.A.
Mediolanum S.p.A
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$
920,881
72,756
96,580
178,103
174,615
41,362
48,636
2,737
8,496
44,769
344,485
202,178
44,565
524,300
28,784
@
@
Parmalat S.p.A
Prysmian S.p.A.
Saipem S.p.A.
Snam Rete Gas S.p.A.
Telecom Italia S.p.A.
Telecom Italia S.p.A. RNC
Terna S.p.A
UniCredito Italiano S.p.A.
Unipol S.p.A.
133,228
53,764
328,657
226,858
495,303
228,070
192,597
1,545,933
32,467
10,154,592
16,000
1,300
5,200
17,600
6,000
6,500
21,000
37,000
15,000
41,000
12,300
31,000
38,000
7,000
15,000
10,000
36,000
2,100
20,224
7,200
3,200
34,200
9,300
48
28,000
5,000
20,900
8,300
8,000
9,044
12,800
2,200
20,000
7,676
21,200
7,500
4,600
2,373
16,000
55,000
L
L
L
L
Japan: 20.6%
77 Bank Ltd.
ABC-Mart, Inc.
Advantest Corp.
Aeon Co. Ltd.
Aeon Mall Co. Ltd.
Aisin Seiki Co. Ltd.
Ajinomoto Co., Inc.
All Nippon Airways Co. Ltd.
Amada Co. Ltd.
Aozora Bank Ltd.
Asahi Breweries Ltd.
Asahi Glass Co. Ltd.
Asahi Kasei Corp.
Asics Corp.
Astellas Pharma, Inc.
Bank of Kyoto Ltd.
Bank of Yokohama Ltd.
Benesse Corp.
Bridgestone Corp.
Brother Industries Ltd.
Canon Sales Co., Inc.
Canon, Inc.
Casio Computer Co. Ltd.
Central Japan Railway Co.
Chiba Bank Ltd.
Chiyoda Corp.
Chubu Electric Power Co., Inc.
Chugai Pharmaceutical Co. Ltd.
Chugoku Bank Ltd.
Chugoku Electric Power Co., Inc.
Citizen Watch Co. Ltd.
Coca-Cola West Holdings Co. Ltd.
Dai Nippon Printing Co. Ltd.
Daihatsu Motor Co. Ltd.
Daiichi Sankyo Co. Ltd.
Daikin Industries Ltd.
Dainippon Sumitomo Pharma Co. Ltd.
Daito Trust Construction Co. Ltd.
Daiwa House Industry Co. Ltd.
Daiwa Securities Group, Inc.
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91,481
41,552
130,391
200,012
126,729
195,182
208,210
105,755
125,968
58,009
230,803
349,656
204,703
68,531
543,348
92,209
176,651
91,046
346,112
87,213
43,588
1,581,929
71,662
365,897
167,648
49,683
522,752
155,898
108,143
179,873
87,693
35,962
270,524
73,376
397,475
307,360
42,208
114,741
180,848
289,887
18,000
15,800
4,800
10,802
8,300
3,000
6,500
1,700
6,100
1,500
24,000
22,000
14,900
61,000
31,000
22,000
14,000
18,000
34,000
900
3,000
3,900
4,000
2,600
141,000
6,000
L
@
L
Denki Kagaku Kogyo K K
Denso Corp.
Dentsu, Inc.
East Japan Railway Co.
Eisai Co. Ltd.
Electric Power Development Co.
Elpida Memory, Inc.
FamilyMart Co. Ltd.
Fanuc Ltd.
Fast Retailing Co. Ltd.
Fuji Electric Holdings Co. Ltd.
Fuji Heavy Industries Ltd.
Fuji Photo Film Co. Ltd.
Fujitsu Ltd.
Fukuoka Financial Group, Inc.
Furukawa Electric Co. Ltd.
GS Yuasa Corp.
Hachijuni Bank Ltd.
Hankyu Hanshin Holdings, Inc.
Hirose Electric Co. Ltd.
Hisamitsu Pharmaceutical Co., Inc.
Hitachi Chemical Co. Ltd.
Hitachi Construction Machinery Co. Ltd.
Hitachi High-Technologies Corp.
Hitachi Ltd.
Hitachi Metals Ltd.
77,454
471,541
126,303
751,572
295,960
98,919
128,273
54,131
648,341
260,895
65,566
114,150
513,240
400,451
131,913
114,511
94,662
102,609
157,691
103,940
111,630
84,488
94,678
59,707
524,607
63,169
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING International Index Portfolio
Shares
4,400
50,000
5,800
52,500
12,100
4,200
900
28
13,300
53,000
40,000
3,000
49,800
6,401
17,000
Value
Japan (continued)
Hokkaido Electric Power Co., Inc.
Hokugin Financial Group, Inc.
Hokuriku Electric Power Co.
Honda Motor Co. Ltd.
Hoya Corp.
Ibiden Co. Ltd.
Idemitsu Kosan Co. Ltd.
Inpex Holdings, Inc.
Isetan Mitsukoshi Holdings Ltd.
Ishikawajima - Harima Heavy Industries Co. Ltd.
Isuzu Motors Ltd.
Ito En Ltd.
Itochu Corp.
Iyo Bank Ltd.
J Front Retailing Co. Ltd.
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$
84,452
109,921
127,645
1,850,556
333,161
144,964
68,263
205,633
143,080
97,097
108,436
46,494
437,103
60,929
100,198
76,000
1,100
12,000
141
15,700
7,000
20,000
7,300
6,300
86
24,000
7,000
9,000
25,800
6,304
17,017
50,000
91
12,000
16,000
8,000
1,270
5,000
56,000
26,000
77,000
4,000
30,700
3,200
16,500
7,700
35,000
10,500
3,700
5,200
10,000
12,000
2,400
3,900
55,000
12,400
1,800
62,400
11,000
52,000
2,248
3,800
2,600
47,000
39,900
59,000
@, I, X
L
L
L
L
L
Japan Airlines Corp.
Japan Petroleum Exploration Co.
Japan Steel Works Ltd.
Japan Tobacco, Inc.
JFE Holdings, Inc.
JGC Corp.
Joyo Bank Ltd.
JS Group Corp.
JSR Corp.
Jupiter Telecommunications Co.
Kajima Corp.
Kamigumi Co. Ltd.
Kaneka Corp.
Kansai Electric Power Co., Inc.
Kansai Paint Co. Ltd.
Kao Corp.
Kawasaki Heavy Industries Ltd.
KDDI Corp.
Keihin Electric Express Railway Co. Ltd.
Keio Corp.
Keisei Electric Railway Co. Ltd.
Keyence Corp.
Kikkoman Corp.
Kintetsu Corp.
Kirin Brewery Co. Ltd.
Kobe Steel Ltd.
Koito Manufacturing Co. Ltd.
Komatsu Ltd.
Konami Corp.
Konica Minolta Holdings, Inc.
Koyo Seiko Co. Ltd.
Kubota Corp.
Kuraray Co. Ltd.
Kurita Water Industries Ltd.
Kyocera Corp.
Kyowa Hakko Kogyo Co. Ltd.
Kyushu Electric Power Co., Inc.
Lawson, Inc.
Makita Corp.
Marubeni Corp.
Marui Co. Ltd.
Maruichi Steel Tube Ltd.
Matsushita Electric Industrial Co. Ltd.
Matsushita Electric Works Ltd.
Mazda Motor Corp.
McDonald’s Holdings Co. Japan Ltd.
Mediceo Paltac Holdings Co. Ltd.
MEIJI Holdings Co. Ltd.
Mitsubishi Chemical Holdings Corp.
Mitsubishi Corp.
Mitsubishi Electric Corp.
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—
55,853
137,697
524,921
633,443
124,955
89,378
148,732
131,551
99,454
58,887
56,354
58,397
591,421
51,495
431,579
138,286
471,090
98,615
108,107
48,744
304,087
58,599
174,397
383,877
165,797
59,541
644,991
61,757
192,990
91,155
319,559
141,490
104,951
507,579
103,280
261,402
102,494
128,739
342,331
89,953
36,521
956,657
139,054
146,668
45,639
45,053
100,892
240,695
1,047,763
543,231
38,000
15,000
91,000
4,000
30,000
123,255
399,221
55,907
31,000
30,000
26,919
18,000
33,000
19,370
33,000
3,300
440,592
@
L
L
L
Mitsubishi Estate Co. Ltd.
Mitsubishi Gas Chemical Co., Inc.
Mitsubishi Heavy Industries Ltd.
Mitsubishi Logistics Corp.
Mitsubishi Materials Corp.
Mitsubishi Motors Corp.
Mitsubishi UFJ Financial Group, Inc.
Mitsui & Co. Ltd.
Mitsui Chemicals, Inc.
Mitsui Engineering & Shipbuilding Co. Ltd.
Mitsui Fudosan Co. Ltd.
Mitsui Mining & Smelting Co. Ltd.
Mitsui OSK Lines Ltd.
Mitsui Sumitomo Insurance Group Holdings, Inc.
Mitsui Trust Holdings, Inc.
Mitsumi Electric Co. Ltd.
Mizuho Financial Group, Inc.
622,778
90,546
377,494
49,773
86,415
167,800
2,092,578
941,325
93,983
74,880
458,184
53,999
237,305
538,687
124,221
72,351
871,072
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING International Index Portfolio
Shares
7,100
6,300
60,000
9,000
5,000
7,000
3,500
11,500
3,200
12,000
24,000
7,000
28,500
40,000
4,100
18,000
163,000
16,200
49,000
20,340
4,000
79,300
900
6,500
31,000
Value
L
L
L
I, X
I, X
I, X
@
Japan (continued)
Murata Manufacturing Co. Ltd.
Namco Bandai Holdings, Inc.
NEC Corp.
NGK Insulators Ltd.
NGK Spark Plug Co. Ltd.
NHK Spring Co. Ltd.
Nidec Corp.
Nikon Corp.
Nintendo Co. Ltd.
Nippon Electric Glass Co. Ltd.
Nippon Express Co. Ltd.
Nippon Meat Packers, Inc.
Nippon Mining Holdings, Inc.
Nippon Oil Corp.
Nippon Paper Group, Inc.
Nippon Sheet Glass Co. Ltd.
Nippon Steel Corp.
Nippon Telegraph & Telephone Corp.
Nippon Yusen KK
Nipponkoa Insurance Co. Ltd.
Nissan Chemical Industries Ltd.
Nissan Motor Co. Ltd.
Nissha Printing Co. Ltd.
Nisshin Seifun Group, Inc.
Nisshin Steel Co. Ltd.
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$
404,039
61,442
180,723
183,980
68,109
64,332
375,276
251,425
1,073,163
169,379
103,366
88,561
130,931
198,096
105,497
53,237
640,954
681,656
193,795
125,969
55,992
680,991
35,185
83,945
64,732
6,000
2,500
1,100
5,100
114,900
3,900
3,400
13,000
20,000
37
480
22,000
250
23,000
32,000
6,500
5,800
2,600
1,800
1,900
3,500
65,000
161
16,600
21,000
1,000
3,100
1,800
1,400
60,000
9,000
6,500
7,400
4,700
10,000
18,000
13,500
24,600
33,000
4,400
13,115
1,000
2,300
20,000
12,786
23,000
79,000
9,300
12,200
22,000
53,000
L
@
L
L
L
L
L
Nisshinbo Industries, Inc.
Nissin Food Products Co. Ltd.
Nitori Co. Ltd.
Nitto Denko Corp.
Nomura Holdings, Inc.
Nomura Real Estate Holdings, Inc.
Nomura Research Institute Ltd.
NSK Ltd.
NTN Corp.
NTT Data Corp.
NTT DoCoMo, Inc.
Obayashi Corp.
Obic Co. Ltd.
Odakyu Electric Railway Co. Ltd.
OJI Paper Co. Ltd.
Olympus Corp.
Omron Corp.
Ono Pharmaceutical Co. Ltd.
Oracle Corp. Japan
Oriental Land Co. Ltd.
ORIX Corp.
Osaka Gas Co. Ltd.
Rakuten, Inc.
Resona Holdings, Inc.
Ricoh Co. Ltd.
Rinnai Corp.
Rohm Co. Ltd.
Sankyo Co. Ltd.
Santen Pharmaceutical Co. Ltd.
Sanyo Electric Co. Ltd.
Sapporo Holdings Ltd.
Secom Co. Ltd.
Sega Sammy Holdings, Inc.
Seiko Epson Corp.
Sekisui Chemical Co. Ltd.
Sekisui House Ltd.
Senshu Ikeda Holdings, Inc.
Seven & I Holdings Co. Ltd.
Sharp Corp.
Shikoku Electric Power Co.
Shimadzu Corp.
Shimamura Co. Ltd.
Shimano, Inc.
Shimizu Corp.
Shin-Etsu Chemical Co. Ltd.
Shinko Securities Co. Ltd.
Shinsei Bank Ltd.
Shionogi & Co. Ltd.
Shiseido Co. Ltd.
Shizuoka Bank Ltd.
Showa Denko KK
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62,213
84,147
83,521
198,048
843,096
60,238
77,504
102,825
90,474
123,369
730,546
97,802
45,432
191,544
140,447
208,948
134,914
115,871
83,547
132,545
310,766
233,043
116,473
210,382
328,911
52,568
231,956
89,110
42,109
96,348
47,043
284,596
89,658
73,134
67,806
180,163
24,563
595,101
413,252
124,768
105,234
88,656
101,954
83,598
744,101
72,828
95,758
177,010
265,480
192,088
119,623
5,700
1,700
24,600
606
50,700
29,000
32,300
I, X
Showa Shell Sekiyu KK
SMC Corp.
Softbank Corp.
Softbank Investment Corp.
Sojitz Corp.
Sompo Japan Insurance, Inc.
Sony Corp.
38,605
231,195
607,031
119,820
98,294
197,283
1,237,619
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING International Index Portfolio
Shares
33
5,500
2,900
51,000
36,900
21,900
21,000
111,000
15,000
41,000
12,000
5,271
48,000
6,590
2,900
11,700
1,400
9,550
44,000
33,000
5,000
8,000
8,000
24,000
7,000
4,000
26,000
5,600
5,200
30,000
3,100
17,777
14,400
23,150
11,000
Value
L
L
L
Japan (continued)
Sony Financial Holdings, Inc.
Stanley Electric Co. Ltd.
Sumco Corp.
Sumitomo Chemical Co. Ltd.
Sumitomo Corp.
Sumitomo Electric Industries Ltd.
Sumitomo Heavy Industries
Sumitomo Metal Industries Ltd.
Sumitomo Metal Mining Co. Ltd.
Sumitomo Mitsui Financial Group, Inc.
Sumitomo Realty & Development Co. Ltd.
Sumitomo Rubber Industries, Inc.
Sumitomo Trust & Banking Co. Ltd.
Suruga Bank Ltd.
Suzuken Co. Ltd.
Suzuki Motor Corp.
Sysmex Corp.
T&D Holdings, Inc.
Taiheiyo Cement Corp.
Taisei Corp.
Taisho Pharmaceutical Co. Ltd.
Taiyo Nippon Sanso Corp.
Takashimaya Co. Ltd.
Takeda Pharmaceutical Co. Ltd.
Tanabe Seiyaku Co. Ltd.
TDK Corp.
Teijin Ltd.
Terumo Corp.
THK Co. Ltd.
Tobu Railway Co. Ltd.
Toho Co. Ltd.
Toho Gas Co. Ltd.
Tohoku Electric Power Co., Inc.
Tokio Marine Holdings, Inc.
Tokuyama Corp.
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$
108,476
106,974
61,829
249,712
424,924
269,050
126,706
336,516
223,170
1,358,321
228,982
46,561
282,128
59,023
102,370
258,336
82,181
226,607
63,137
72,805
90,866
78,345
65,771
1,056,814
98,915
266,660
87,397
298,571
113,684
166,635
49,972
97,066
304,622
652,626
60,986
38,300
5,500
73,079
15,000
33,000
17,000
9,000
17,000
41,000
131,000
17,000
8,000
5,400
3,000
5,100
93,389
7,600
3,700
34,000
1,200
3,600
62
422
3,300
2,720
4,200
8,200
11,500
1,800
9,000
6,400
L
L
Tokyo Electric Power Co., Inc.
Tokyo Electron Ltd.
Tokyo Gas Co. Ltd.
Tokyo Tatemono Co. Ltd.
Tokyu Corp.
Tokyu Land Corp.
TonenGeneral Sekiyu KK
Toppan Printing Co. Ltd.
Toray Industries, Inc.
Toshiba Corp.
Tosoh Corp.
Toto Ltd.
Toyo Seikan Kaisha Ltd.
Toyo Suisan Kaisha Ltd.
Toyota Industries Corp.
Toyota Motor Corp.
Toyota Tsusho Corp.
Trend Micro, Inc.
Ube Industries Ltd.
Uni-Charm Corp.
Ushio, Inc.
West Japan Railway Co.
Yahoo! Japan Corp.
Yakult Honsha Co. Ltd.
Yamada Denki Co. Ltd.
Yamaha Corp.
Yamaha Motor Co. Ltd.
Yamato Holdings Co. Ltd.
Yamato Kogyo Co. Ltd.
Yaskawa Electric Corp.
Yokogawa Electric Corp.
1,021,518
365,513
322,337
54,058
138,152
65,072
76,064
153,751
239,830
678,033
43,236
54,588
95,688
77,619
145,974
3,755,113
119,393
129,157
87,280
115,856
61,190
213,616
153,925
89,041
201,000
54,300
123,186
161,855
59,881
82,462
55,902
71,683,594
Kazakhstan: 0.1%
Eurasian Natural Resources Corp.
7,621
137,704
137,704
27,333
9,298
14,420
L
Luxembourg: 0.5%
ArcelorMittal
SES S.A.
Tenaris S.A.
1,198,431
234,679
310,921
1,744,031
Macau: 0.0%
Sands China Ltd.
69,600
110,618
110,618
143,600
@
Malaysia: 0.0%
Genting International PLC
90,719
90,719
187,265
Mauritius: 0.0%
Golden Agri-Resources Ltd.
77,476
77,476
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PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING International Index Portfolio
Shares
Value
Mexico: 0.0%
Fresnillo PLC
6,460
$
83,196
83,196
50,083
7,275
13,596
2,270
12,348
2,161
2,748
7,903
113,893
13,192
37,523
4,838
30,483
6,162
2,812
21,655
114,751
87,840
52,368
5,125
11,687
53,726
9,487
@
L
@, **
@
L
@
@
Netherlands: 4.2%
Aegon NV
Akzo Nobel NV
ASML Holding NV
Boskalis Westminster
European Aeronautic Defence and Space Co. NV
Fugro NV
Heineken Holding NV
Heineken NV
ING Groep NV
James Hardie Industries NV
Koninklijke Ahold NV
Koninklijke DSM NV
Koninklijke Philips Electronics NV
Qiagen NV
Randstad Holdings NV
Reed Elsevier NV
Royal Dutch Shell PLC - Class A
Royal Dutch Shell PLC - Class B
Royal KPN NV
SBM Offshore NV
TNT NV
Unilever NV
Wolters Kluwer NV
341,888
414,381
482,049
86,840
248,055
141,027
122,262
405,885
1,128,406
87,883
500,377
215,533
978,088
142,001
133,539
262,803
3,326,952
2,421,564
831,030
102,405
334,685
1,625,371
205,539
14,538,563
15,715
22,730
61,202
@
New Zealand: 0.1%
Contact Energy Ltd.
Fletcher Building Ltd.
Telecom Corp. of New Zealand Ltd.
71,415
134,643
94,117
300,175
26,370
21,157
22,199
10,528
36,589
26,980
6,487
@
@
@, L
@
Norway: 0.6%
DnB NOR ASA
Norsk Hydro ASA
Orkla ASA
Renewable Energy Corp. A/S
Statoil ASA
Telenor ASA
Yara International ASA
301,603
161,517
196,406
49,286
851,403
366,158
282,030
2,208,403
Portugal: 0.3%
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68,035
14,308
5,729
9,420
61,004
5,099
8,633
15,542
Banco Comercial Portugues S.A.
Banco Espirito Santo S.A.
Brisa-Auto Estradas de Portugal S.A.
Cimpor Cimentos de Portugal SG
Energias de Portugal S.A.
Galp Energia SGPS S.A.
Jeronimo Martins
Portugal Telecom SGPS S.A.
75,528
77,207
48,550
71,108
242,398
88,528
87,427
173,465
864,211
82,000
47,000
16,000
69,000
57,000
53,000
31,000
5,000
38,000
44,000
46,000
74,608
35,000
35,000
17,000
28,000
45,000
26,000
248,000
29,000
40,000
19,000
43,000
L
L
L
L
Singapore: 1.2%
CapitaLand Ltd.
CapitaMalls Asia Ltd.
City Developments Ltd.
ComfortDelgro Corp. Ltd.
Cosco Corp. Singapore Ltd.
DBS Group Holdings Ltd.
Fraser and Neave Ltd.
Jardine Cycle & Carriage Ltd.
Keppel Corp. Ltd.
Neptune Orient Lines Ltd.
Olam International Ltd.
Oversea-Chinese Banking Corp.
SembCorp Industries Ltd.
SembCorp Marine Ltd.
Singapore Airlines Ltd.
Singapore Exchange Ltd.
Singapore Press Holdings Ltd.
Singapore Technologies Engineering Ltd.
Singapore Telecommunications Ltd.
StarHub Ltd.
United Overseas Bank Ltd.
United Overseas Land Ltd.
Wilmar International Ltd.
232,164
75,928
121,020
76,867
50,385
540,375
106,191
104,830
247,507
63,181
85,000
463,668
103,052
104,574
184,517
152,870
122,759
59,199
560,988
47,463
548,140
52,888
205,514
4,309,080
Spain: 3.6%
Abertis Infraestructuras S.A.
Acciona S.A.
Acerinox S.A.
ACS Actividades de Construccion y Servicios S.A.
8,811
637
4,097
4,340
169,698
70,568
80,672
200,249
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING International Index Portfolio
Shares
113,746
31,239
Value
L
Spain (continued)
Banco Bilbao Vizcaya Argentaria S.A.
Banco De Sabadell S.A.
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$
1,555,481
172,548
7,411
27,937
259,866
10,856
13,627
20,872
21,210
9,527
5,503
1,386
6,503
7,630
3,090
3,447
22,226
114,568
15,874
7,067
3,566
3,288
23,228
136,013
4,292
@
L
L
@
Banco de Valencia S.A.
Banco Popular Espanol S.A.
Banco Santander Central Hispano S.A.
Bankinter S.A.
Cintra Concesiones DE Infrae
Corp. Mapfre S.A.
Criteria Caixacorp S.A.
EDP Renovaveis S.A.
Enagas
Fomento de Construcciones y Contratas S.A.
Gamesa Corp. Tecnologica S.A.
Gas Natural SDG S.A.
Gestevision Telecinco S.A.
Grifols S.A.
Iberdrola Renovables
Iberdrola S.A.
Iberia Lineas Aereas de Espana
Inditex S.A.
Indra Sistemas S.A.
Red Electrica de Espana
Repsol YPF S.A.
Telefonica S.A.
Zardoya-Otis S.A.
47,341
205,470
3,446,885
90,480
132,408
76,534
105,234
74,439
120,545
50,691
89,068
140,726
48,529
51,476
92,179
970,129
55,452
466,108
73,096
176,431
550,234
3,222,780
74,442
12,609,893
10,939
9,293
21,531
17,347
7,333
5,345
16,185
2,167
13,060
14,313
7,300
5,736
2,443
102,298
2,989
31,474
10,394
8,272
49,153
12,674
11,864
5,831
4,023
16,908
15,126
19,841
L
@
@
L
@
L
L
@
Sweden: 2.6%
Alfa Laval AB
Assa Abloy AB
Atlas Copco AB - Class A
Atlas Copco AB - Class B
Electrolux AB
Getinge AB
Hennes & Mauritz AB
Holmen AB
Husqvarna AB - B Shares
Investor AB
Kinnevik Investment AB
Lundin Petroleum AB
Millicom International Cellular S.A.
Nordea Bank AB
Ratos AB
Sandvik AB
Scania AB - B Shares
Securitas AB
Skandinaviska Enskilda Banken AB
Skanska AB
SKF AB - B Shares
SSAB Svenskt Staal AB - Class A
SSAB Svenskt Staal AB - Class B
Svenska Cellulosa AB - B Shares
Svenska Handelsbanken AB
Swedbank AB
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160,913
181,764
333,699
242,985
167,963
128,162
1,052,459
58,375
95,064
274,424
134,521
48,556
218,575
1,008,362
99,070
393,189
164,527
88,184
313,091
230,201
210,758
104,843
65,330
238,397
443,812
203,197
6,594
9,763
94,106
69,043
15,389
39,464
L
Swedish Match AB
Tele2 AB - B Shares
Telefonaktiebolaget LM Ericsson
TeliaSonera AB
Volvo AB - A Shares
Volvo AB - B Shares
157,579
162,767
986,797
490,235
152,501
397,131
9,007,431
68,782
3,577
3,677
2,469
1,624
720
16,669
36,382
1,168
240
7,747
6,479
1,603
32
4
5,113
1,612
109,427
3,882
66,967
618
22,298
@
@
@
@
S
Switzerland: 7.8%
ABB Ltd.
Actelion Ltd. - Reg
Adecco S.A.
Aryzta AG
Baloise Holding AG
BKW FMB Energie AG
Compagnie Financiere Richemont S.A.
Credit Suisse Group
Geberit AG - Reg
Givaudan
Holcim Ltd.
Julius Baer Group Ltd.
Kuehne & Nagel International AG
Lindt & Spruengli AG
Lindt & Spruengli AG - REG
Logitech International S.A.
Lonza Group AG
Nestle S.A.
Nobel Biocare Holding AG
Novartis AG
Pargesa Holding S.A.
Roche Holding AG - Genusschein
1,503,621
162,622
208,749
108,150
144,029
53,498
646,345
1,872,669
208,967
210,466
577,347
234,507
161,966
75,702
108,252
84,301
131,677
5,607,259
103,722
3,622,510
52,445
3,621,430
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING International Index Portfolio
Shares
1,679
1,213
172
1,329
21,797
315
992
2,317
983
11,031
724
2,963
Value
S
@
Switzerland (continued)
Schindler Holding AG
Schindler Holding AG - Reg
SGS S.A.
Sonova Holding AG - Reg
STMicroelectronics NV
Straumann Holding AG
Swatch Group AG - BR
Swatch Group AG - Reg
Swiss Life Holding
Swiss Reinsurance
Swisscom AG
Syngenta AG
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$
147,700
105,305
237,399
164,956
216,299
78,319
316,343
137,895
128,913
541,241
264,436
822,763
1,824
113,203
61,213
4,654
@
@
Synthes, Inc.
UBS AG - Reg
Xstrata PLC
Zurich Financial Services AG
227,881
1,841,576
1,158,535
1,193,722
27,083,517
33,430
5,295
9,690
41,883
12,711
10,213
45,848
6,616
87,459
111,895
22,699
363,056
105,050
70,065
594,121
20,811
64,143
31,938
245,439
10,302
14,072
81,806
81,806
43,178
18,441
5,066
8,214
164,689
40,809
55,838
78,615
12,800
31,092
13,175
165,456
31,034
26,472
551,640
16,604
31,613
14,133
9,369
50,735
26,218
14,200
@
@
S
@, L
S
@
S
United Kingdom: 17.3%
3i Group PLC
Admiral Group PLC
Amec PLC
Anglo American PLC
Antofagasta PLC
Associated British Foods PLC
AstraZeneca PLC
Autonomy Corp. PLC
Aviva PLC
BAE Systems PLC
Balfour Beatty PLC
Barclays PLC
BG Group PLC
BHP Billiton PLC
BP PLC
British Airways PLC
British American Tobacco PLC
British Sky Broadcasting PLC
BT Group PLC
Bunzl PLC
Burberry Group PLC
Cable & Wireless Communications PLC
Cable & Wireless Worldwide
Cairn Energy PLC
Capita Group PLC
Carnival PLC
Carphone Warehouse Group PLC
Centrica PLC
Cobham PLC
Compass Group PLC
Diageo PLC
Drax Group PLC
Experian Group Ltd.
Firstgroup PLC
GlaxoSmithKline PLC
Group 4 Securicor PLC
Home Retail Group
HSBC Holdings PLC
ICAP PLC
Imperial Tobacco Group PLC
Inmarsat PLC
Intercontinental Hotels Group PLC
International Power PLC
Invensys PLC
Investec PLC
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147,535
106,156
117,487
1,823,127
200,713
151,783
2,044,166
182,856
510,922
630,850
100,816
1,976,904
1,819,234
2,394,680
5,623,429
76,963
2,211,357
291,789
460,714
112,751
152,513
68,712
114,209
273,406
211,761
207,963
19,881
735,357
159,144
445,765
1,321,741
72,637
305,741
71,755
3,175,884
123,180
108,915
5,590,260
94,123
964,555
162,079
146,654
246,346
135,413
116,082
41,520
5,902
5,907
75,791
188,464
1,208,775
3,789
4,810
54,954
51,505
77,991
6,941
160,821
23,051
6,806
78,108
3,060
19,228
38,141
30,866
@
@
J Sainsbury PLC
Johnson Matthey PLC
Kazakhmys PLC
Kingfisher PLC
Legal & General Group PLC
Lloyds TSB Group PLC
London Stock Exchange Group PLC
Lonmin PLC
Man Group PLC
Marks & Spencer Group PLC
National Grid PLC
Next PLC
Old Mutual PLC
Pearson PLC
Petrofac Ltd.
Prudential PLC
Randgold Resources Ltd.
Reckitt Benckiser PLC
Reed Elsevier PLC
Rexam PLC
206,556
156,676
136,546
246,770
251,310
1,147,806
40,856
148,908
201,164
289,463
759,193
228,010
298,771
361,373
124,123
646,159
234,811
1,056,460
303,793
137,203
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING International Index Portfolio
Shares
43,539
59,976
114,365
543,392
30,057
40,738
3,027
28,345
15,169
8,034
18,008
26,557
9,743
63,863
67,954
16,429
252,121
27,834
34,266
18,320
24,462
41,137
Value
@
@
United Kingdom (continued)
Rio Tinto PLC
Rolls-Royce Group PLC
Royal & Sun Alliance Insurance Group
Royal Bank of Scotland Group PLC
SABMiller PLC
Sage Group PLC
Schroders PLC
Scottish & Southern Energy PLC
Serco Group PLC
Severn Trent PLC
Shire PLC
Smith & Nephew PLC
Smiths Group PLC
Standard Chartered PLC
Standard Life PLC
TalkTalk Telecom Group PLC
Tesco PLC
Thomas Cook Group PLC
Tomkins PLC
TUI Travel PLC
Tullow Oil PLC
Unilever PLC
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$
2,573,967
543,012
221,406
359,962
881,607
147,906
64,663
473,955
138,401
145,666
396,869
265,198
168,076
1,740,731
206,380
32,161
1,666,912
114,023
122,733
83,928
464,200
1,204,269
20,256
4,404
1,668,209
6,561
66,603
9,163
38,522
L
@
United Utilities Group PLC
Vedanta Resources PLC
Vodafone Group PLC
Whitbread PLC
WM Morrison Supermarkets PLC
Wolseley PLC
WPP PLC
171,945
185,425
3,858,424
146,882
296,493
221,409
398,618
60,279,480
Total Common Stock
(Cost $249,597,407)
320,355,776
REAL ESTATE INVESTMENT TRUSTS: 1.2%
54,357
127,843
266,394
874,585
184,610
83,289
76,608
66,552
@
Australia: 0.5%
CFS Retail Property Trust
Dexus Property Group
GPT Group
GPT Group
Macquarie Goodman Group
Mirvac Group
Stockland
Westfield Group
93,414
94,906
140,459
—
110,636
112,531
279,855
735,404
1,567,205
1,004
624
704
3,184
2,799
France: 0.3%
Fonciere Des Regions
Gecina S.A.
ICADE
Klepierre
Unibail
110,457
69,069
78,470
124,753
566,659
949,408
67,827
Hong Kong: 0.1%
Link Real Estate Investment Trust
167,128
167,128
15
56
17
11
Japan: 0.1%
Japan Real Estate Investment Corp.
Japan Retail Fund Investment Corp.
Nippon Building Fund, Inc.
Nomura Real Estate Office Fund, Inc.
127,989
66,010
146,488
61,853
402,340
1,655
Netherlands: 0.0%
Corio NV
110,447
110,447
49,000
76,000
Singapore: 0.0%
Ascendas Real Estate Investment Trust
CapitaMall Trust
67,182
95,989
163,171
28,706
21,679
25,436
United Kingdom: 0.2%
British Land Co. PLC
Hammerson PLC
Land Securities Group PLC
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209,238
129,367
261,545
16,077
25,472
Liberty International PLC
Segro PLC
122,611
123,747
846,508
Total Real Estate Investment Trusts
(Cost $3,628,057)
4,206,207
RIGHTS: 0.0%
3,048
Australia: 0.0%
Lend Lease Corp., Ltd.
2,517
2,517
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING International Index Portfolio
Shares
Value
4,723
Germany: 0.0%
Volkswagen AG
$
2,934
2,934
Total Rights
(Cost $-)
5,451
WARRANTS: 0.0%
837
France: 0.0%
Fonciere Des Regions
938
938
44,800
26,395
Italy: 0.0%
Mediobanca S.p.A.
Unione di Banche Italiane SCPA
5,664
1,305
6,969
17,122
Singapore: 0.0%
Golden Agri-Resources Ltd.
1,530
1,530
Total Warrants
(Cost $1,997)
9,437
Principal Amount
Value
CORPORATE BONDS/NOTES: 0.0%
$
19,900
Italy: 0.0%
Banca Popolare di Milano Scrl, 6.750%, due 06/01/13
Total Corporate Bonds/Notes
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$
21,503
21,503
(Cost $27,688)
Total Long-Term Investments
(Cost $253,255,149)
324,598,374
Shares
Value
SHORT-TERM INVESTMENTS: 5.7%
Affiliated Mutual Fund: 1.9%
ING Institutional Prime Money Market Fund - Class I
6,606,000
$
Total Mutual Fund
(Cost $6,606,000)
37,727
6,606,000
Securities Lending Collateral(cc): 3.8%
Bank of New York Mellon Corp. Institutional Cash Reserves, Series A (1)
Bank of New York Mellon Corp. Institutional Cash Reserves,
Series B (1)(2)
13,136,411
I
S
L
**
X
30,182
13,166,593
Total Short-Term Investments
(Cost $19,780,138)
19,772,593
Net Assets
(2)
13,136,411
Total Securities Lending Collateral
(Cost $13,174,138)
Total Investments in Securities
(Cost $273,035,287)*
Other Assets and Liabilities - Net
@
ADR
I
cc
(1)
6,606,000
98.9%
1.1
$
344,370,967
3,676,801
100.0%
$
348,047,768
Non-income producing security
American Depositary Receipt
Illiquid Security
Securities purchased with cash collateral for securities loaned.
Collateral received from brokers for securites lending was invested in these
short-term investments.
On September 12, 2008, BNY established a separate sleeve of the
Institutional Cash Reserves Fund (Series B) to hold certain Lehman
Brothers defaulted debt obligations. The Fund’s position in Series B is
being fair valued daily.
All or a portion of this security has been identified by the Fund to cover
future collateral requirements for applicable futures, options, swaps,
foreign currency contracts and/or when-issued or delayed-delivery
securities.
Loaned security, a portion or all of the security is on loan at March 31, 2010.
Investment in affiliate
Fair value determined by ING Funds Valuation Committee appointed by the
Funds’ Board of Directors/Trustees.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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*
Cost for federal income tax purposes is $281,661,310.
Net unrealized appreciation consists of:
Gross Unrealized Appreciation
Gross Unrealized Depreciation
Net Unrealized Appreciation
Percentage of
Advertising
Aerospace/Defense
Agriculture
Airlines
Apparel
Auto Manufacturers
Auto Parts & Equipment
Banks
Beverages
Biotechnology
Building Materials
Chemicals
Commercial Services
Computers
Cosmetics/Personal Care
Distribution/Wholesale
Diversified
Diversified Financial Services
Electric
Electrical Components & Equipment
Electronics
Energy - Alternate Sources
Engineering & Construction
Entertainment
Environmental Control
Food
Food Service
Forest Products & Paper
Gas
Hand/Machine Tools
Healthcare - Products
Healthcare - Services
Holding Companies - Diversified
Home Builders
Home Furnishings
Household Products/Wares
73,589,890
(10,880,233)
$
62,709,657
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING International Index Portfolio
Industry
$
Net Assets
0.1%
0.6
1.2
0.2
0.3
3.2
0.7
14.8
1.8
0.2
1.2
3.1
1.0
0.4
0.5
1.2
0.8
1.1
4.2
0.9
1.4
0.1
1.4
0.2
0.0
4.9
0.2
0.3
0.6
0.3
0.8
0.1
0.8
0.1
0.8
0.5
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Insurance
Internet
Investment Companies
Iron/Steel
Leisure Time
Lodging
Machinery - Construction & Mining
Machinery - Diversified
Media
Metal Fabricate/Hardware
Mining
Miscellaneous Manufacturing
Office Property
Office/Business Equipment
Oil & Gas
Oil & Gas Services
Packaging & Containers
Pharmaceuticals
Real Estate
Retail
Semiconductors
Shipbuilding
Shopping Centers
Software
Storage/Warehousing
Telecommunications
Textiles
Toys/Games/Hobbies
Transportation
Venture Capital
Water
Short-Term Investments
Other Assets and Liabilities - Net
Net Assets
4.4
0.2
0.3
1.3
0.3
0.3
0.4
0.9
1.1
0.4
4.6
1.3
0.1
0.6
7.0
0.3
0.1
6.0
1.4
2.2
0.5
0.1
0.3
0.6
0.0
6.2
0.1
0.3
1.6
0.0
0.3
5.7
1.1
100.0%
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING International Index Portfolio
Fair Value Measurements
The following is a summary of the fair valuations according to the inputs used as of March 31, 2010 in valuing the Portfolio’s assets and
liabilities:
Quoted Prices
Significant Other
Significant
in Active Markets
Observable
Unobservable
Fair Value
for Identical Investments
Inputs#
Inputs
at
(Level 1)
(Level 2)
(Level 3)
3/31/2010
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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Asset Table
Investments, at value
Common Stock
Australia
Austria
Belgium
Bermuda
China
Cyprus
Denmark
Finland
France
Germany
Greece
Guernsey
Hong Kong
Ireland
Italy
Japan
Kazakhstan
Luxembourg
Macau
Malaysia
Mauritius
Mexico
Netherlands
New Zealand
Norway
Portugal
Singapore
Spain
Sweden
Switzerland
United Kingdom
$
Total Common Stock
Real Estate Investment Trusts
Rights
Warrants
Corporate Bonds/Notes
Short-Term Investments
Total Investments, at value
Other Financial
Futures
$
$
26,260,652
1,044,871
3,136,283
187,734
65,779
112,004
3,189,735
4,035,568
31,669,123
25,375,903
1,401,761
92,839
7,055,633
907,381
10,154,592
71,142,252
137,704
1,744,031
—
90,719
77,476
83,196
14,538,563
300,175
2,208,403
864,211
4,233,152
12,609,893
9,007,431
27,083,517
60,044,517
$
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
$
26,465,890
1,044,871
3,136,283
187,734
65,779
112,004
3,189,735
4,035,568
31,669,123
25,375,903
1,401,761
92,839
7,388,222
907,381
10,154,592
71,683,594
137,704
1,744,031
110,618
90,719
77,476
83,196
14,538,563
300,175
2,208,403
864,211
4,309,080
12,609,893
9,007,431
27,083,517
60,279,480
1,500,678
318,855,098
—
320,355,776
—
—
8,132
—
19,742,411
4,206,207
5,451
1,305
—
—
—
—
—
21,503
30,182
4,206,207
5,451
9,437
21,503
19,772,593
21,251,221
$
323,068,061
$
51,685
$
344,370,967
Instruments+:
Total Assets
304,819
$
Liabilities Table
Other Financial Instruments+:
Futures
Total Liabilities
205,238
—
—
—
—
—
—
—
—
—
—
—
332,589
—
—
541,342
—
—
110,618
—
—
—
—
—
—
—
75,928
—
—
—
234,963
21,556,040
—
$
323,068,061
(19,902)
$
(19,902)
$
—
$
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—
304,819
—
51,685
$
(19,902)
—
$
—
344,675,786
$
(19,902)
The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio’s assets and liabilities
during the period ended March 31, 2010:
Beginning
Accrued
Total
Total Unrealized
Transfers
Transfers
Ending
Balance
Discounts/
Realized
Appreciation/
Into
Out of
Balance
(Premiums)
Gain/(Loss)
(Depreciation)
Level 3
Level 3
3/31/2010
12/31/2009
Purchases
Sales
Asset Table
Investments, at value
Corporate Bonds/Notes
$
Short-Term Investments
Total Investments, at value
—
$
30,182
$
30,182
—
$
—
$
—
—
$
—
$
—
—
$
—
—
$
—
$
—
—
$
—
$
21,503
—
$
—
$
—
$
21,503
—
$
$
—
21,503
30,182
—
$
51,685
As of March 31, 2010, total change in unrealized gain (loss) on Level 3 securities still held at period end and included in the change in net
assets was $(6,186).
Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency
contracts, futures, swaps, and written options. Forward foreign currency contracts and futures are reported at their unrealized gain/loss at
measurement date which represents the amount due to/from the Portfolio. Swaps and written options are reported at their market value at
measurement date.
+
Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any security or
derivative instrument where a change in the pricing level occurred from the beginning to the end of the period.
# The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have
occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of
its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a
significant portion of the Portfolio’s investments are categorized as Level 2 investments.
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING International Index Portfolio
ING International Index Portfolio Open Futures Contracts on March 31, 2010:
Unrealized
Number of
Contract Description
Long Contracts
ASX SPI 200® Index
CAC40® 10 Euro
DAX Index
Dow Jones Euro STOXX 50®
FTSE 100 Index
FTSE/MIB Index
Hang Seng Index
IBEX 35® Index
OMXS30™ Index
Contracts
17
15
5
172
57
3
4
7
53
Appreciation/
Expiration Date
06/17/10
04/16/10
06/18/10
06/18/10
06/18/10
06/18/10
04/29/10
04/16/10
04/16/10
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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Market Value
$
1,902,816
804,621
1,036,883
6,623,248
4,852,932
453,618
546,865
1,025,021
746,856
(Depreciation)
$
(422)
689
21,990
32,827
20,065
331
507
(19,480)
2,310
Tokyo Price Index (TOPIX)
44
06/10/10
4,600,492
$
22,593,352
226,100
$
284,917
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited)
ING Japan Equity Index Portfolio
Shares
Value
COMMON STOCK: 98.4%
7,000
36,500
5,920
5,300
5,100
L
Advertising: 0.3%
Asatsu-DK, Inc.
Dentsu, Inc.
Hakuhodo DY Holdings, Inc.
Moshi Moshi Hotline, Inc.
Tow Co. Ltd.
Agriculture: 0.7%
Chubu Shiryo Co. Ltd.
Hokuto Corp.
Japan Tobacco, Inc.
Sakata Seed Corp.
5,000
4,500
932
7,100
524,000
Airlines: 0.3%
All Nippon Airways Co. Ltd.
35,000
9,400
17,000
26,000
14,000
1,200
43,200
5,000
11,000
23,000
13,300
17,000
20,000
14,000
3,000
20,000
Apparel: 0.3%
Asics Corp.
Daidoh Ltd.
Descente Ltd.
Gunze Ltd.
Japan Wool Textile Co. Ltd.
Katakura Industries Co. Ltd.
Look, Inc.
Nagaileben Co. Ltd.
Naigai Co. Ltd.
Onward Kashiyama Co. Ltd.
Renown, Inc.
Sanyo Shokai Ltd.
Shikibo Ltd.
Tokai Senko KK
Tokyo Style Co. Ltd.
Wacoal Holdings Corp.
36,000
123,000
41,000
@
@
@
Auto Manufacturers: 7.8%
Daihatsu Motor Co. Ltd.
Fuji Heavy Industries Ltd.
Hino Motors Ltd.
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$
148,790
960,426
312,043
101,400
28,487
1,551,146
43,774
92,354
3,469,691
95,356
3,701,175
1,497,723
1,497,723
342,656
72,734
100,577
96,056
109,032
12,402
46,293
115,774
5,185
179,425
25,197
64,608
29,563
14,081
20,877
250,045
1,484,505
344,130
638,204
173,356
319,200
246,000
5,300
231,000
797,000
446,800
5,000
5,000
73,100
3,000
509,000
21,000
7,700
32,300
5,400
57,000
118,800
30,000
5,000
86,700
13,000
4,300
5,400
4,900
6,000
4,000
13,600
20,000
5,000
5,000
32,000
5,700
@, L
@
L
@
@
@
@
Honda Motor Co. Ltd.
Isuzu Motors Ltd.
Kanto Auto Works Ltd.
Mazda Motor Corp.
Mitsubishi Motors Corp.
Nissan Motor Co. Ltd.
Nissan Shatai Co. Ltd.
Shinmaywa Industries Ltd.
Suzuki Motor Corp.
Toyota Auto Body Co. Ltd.
Toyota Motor Corp.
11,251,382
666,881
42,556
651,545
1,085,041
3,836,906
39,941
18,521
1,614,049
51,347
20,466,572
40,880,431
Auto Parts & Equipment: 2.8%
Aichi Machine Industry Co. Ltd.
Aisan Industry Co. Ltd.
Aisin Seiki Co. Ltd.
Akebono Brake Industry Co. Ltd.
Asahi TEC Corp.
Bridgestone Corp.
Calsonic Kansei Corp.
Chuo Spring Co. Ltd.
Denso Corp.
Eagle Industry Co. Ltd.
Exedy Corp.
FCC Co. Ltd.
F-Tech, Inc.
Fuji Kiko Co. Ltd.
Furukawa Battery Co. Ltd.
Futaba Industrial Co. Ltd.
Ichikoh Industries Ltd.
Imasen Electric Industrial
Kasai Kogyo Co. Ltd.
Kayaba Industry Co. Ltd.
Keihin Corp.
87,035
70,778
969,905
29,690
28,684
2,033,134
89,075
19,907
2,587,504
102,304
105,252
107,260
76,289
20,588
30,257
118,168
34,943
63,399
21,152
118,284
110,177
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Japan Equity Index Portfolio
Shares
Value
17,000
34,800
12,000
3,900
36,000
27,000
4,500
8,000
5,800
@
@
Auto Parts & Equipment (continued)
Koito Manufacturing Co. Ltd.
Koyo Seiko Co. Ltd.
Mitsuba Corp.
Musashi Seimitsu Industry Co. Ltd.
NGK Spark Plug Co. Ltd.
NHK Spring Co. Ltd.
Nifco, Inc.
Nippon Piston Ring Co. Ltd.
Nissin Kogyo Co. Ltd.
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$
253,049
411,972
75,933
83,278
490,388
248,136
103,804
9,405
94,785
18,500
3,000
3,800
31,000
20,000
12,000
1,000
12,000
11,400
25,000
124,900
32,400
26,000
7,600
7,400
6,300
23,000
2,400
8,800
12,200
41,000
10,900
11,100
31,700
7,000
6,100
5,400
41,000
7,700
3,000
S
NOK Corp.
Pacific Industrial Co. Ltd.
Piolax, Inc.
Press Kogyo Co. Ltd.
Riken Corp.
Sanden Corp.
Sawafuji Electric Co. Ltd.
Shiroki Corp.
Showa Corp.
Stanley Electric Co. Ltd.
Sumitomo Electric Industries Ltd.
Sumitomo Rubber Industries, Inc.
T RAD Co. Ltd.
Tachi-S Co. Ltd.
Taiho Kogyo Co. Ltd.
Takata Corp.
TBK Co. Ltd.
Teikoku Piston Ring Co. Ltd.
Tokai Rika Co. Ltd.
Topre Corp.
Toyo Tire & Rubber Co. Ltd.
Toyoda Gosei Co. Ltd.
Toyota Boshoku Corp.
Toyota Industries Corp.
TS Tech Co. Ltd.
Unipres Corp.
U-Shin Ltd.
Yokohama Rubber Co. Ltd.
Yokowo Co. Ltd.
Yorozu Corp.
278,675
16,525
85,143
77,309
78,893
44,250
1,553
33,905
90,969
486,247
1,534,443
286,201
74,602
82,867
59,372
161,752
53,188
17,982
180,973
97,095
95,840
306,074
213,390
907,330
131,406
86,316
43,151
193,464
49,802
41,046
14,404,298
59,000
1,400
26,000
38,000
157,000
30,000
2,600
64,000
32,000
4,200
26,000
246,000
138,000
8,100
32,000
23,000
31,000
47,000
18,000
L
@
Banks: 9.5%
77 Bank Ltd.
Aichi Bank Ltd.
Akita Bank Ltd.
Aomori Bank Ltd.
Aozora Bank Ltd.
Awa Bank Ltd.
Bank of Iwate Ltd.
Bank of Kyoto Ltd.
Bank of Nagoya Ltd.
Bank of Okinawa Ltd.
Bank of Saga Ltd.
Bank of Yokohama Ltd.
Chiba Bank Ltd.
Chiba Kogyo Bank Ltd.
Chugoku Bank Ltd.
Chukyo Bank Ltd.
Daisan Bank Ltd.
Daishi Bank Ltd.
Daito Bank Ltd.
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337,334
113,282
104,659
89,509
222,131
178,964
151,111
590,140
130,269
171,347
74,571
1,207,117
826,263
63,462
432,571
70,166
87,614
162,992
12,716
26,000
29,000
31,200
33,000
149,000
73,000
69,000
43,000
29,000
85,000
50,000
43,000
238,000
36,000
42,000
44,000
129,000
51,000
Ehime Bank Ltd.
Eighteenth Bank Ltd.
FIDEA Holdings Co. Ltd.
Fukui Bank Ltd.
Fukuoka Financial Group, Inc.
Gunma Bank Ltd.
Hachijuni Bank Ltd.
Higashi-Nippon Bank Ltd.
Higo Bank Ltd.
Hiroshima Bank Ltd.
Hokkoku Bank Ltd.
Hokuetsu Bank Ltd.
Hokugin Financial Group, Inc.
Hyakugo Bank Ltd.
Hyakujushi Bank Ltd.
Iyo Bank Ltd.
Joyo Bank Ltd.
Juroku Bank Ltd.
73,196
87,311
54,412
104,902
634,035
404,249
393,335
90,252
161,449
359,836
185,814
70,384
523,225
169,257
163,874
418,823
576,489
202,630
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Japan Equity Index Portfolio
Shares
20,000
29,000
47,000
18,500
32,000
2,200
135,000
28,000
23,000
15,000
2,775,100
202,000
18,000
3,171,300
282,000
2,600
24,000
37,000
108,000
24,000
25,000
105,800
23,000
35,800
Value
L
L
Banks (continued)
Kagawa Bank Ltd.
Kagoshima Bank Ltd.
Kansai Urban Banking Corp.
Kanto Tsukuba Bank Ltd.
Keiyo Bank Ltd.
Kita-Nippon Bank Ltd.
Kiyo Holdings, Inc.
Michinoku Bank Ltd.
Mie Bank Ltd.
Minato Bank Ltd.
Mitsubishi UFJ Financial Group, Inc.
Mitsui Trust Holdings, Inc.
Miyazaki Bank Ltd.
Mizuho Financial Group, Inc.
Mizuho Trust & Banking Co. Ltd.
Musashino Bank Ltd.
Nagano Bank Ltd.
Nanto Bank Ltd.
Nishi-Nippon City Bank Ltd.
Ogaki Kyoritsu Bank Ltd.
Oita Bank Ltd.
Resona Holdings, Inc.
San-In Godo Bank Ltd.
Sapporo Hokuyo Holdings, Inc.
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$
68,243
203,919
73,021
52,499
154,646
60,839
179,102
57,557
63,787
19,592
14,546,096
760,382
54,527
6,269,814
284,176
74,701
47,300
207,521
319,376
82,991
92,136
1,340,867
191,974
163,707
141,850
35,000
28,000
1,800
206,000
113,000
277,400
328,000
41,000
20,000
32,000
34,000
5,300
26,000
21,000
99,000
2,800
22,000
28,000
23,000
L
L
L
L
L
@
Senshu Ikeda Holdings, Inc.
Shiga Bank Ltd.
Shikoku Bank Ltd.
Shimizu Bank Ltd.
Shinsei Bank Ltd.
Shizuoka Bank Ltd.
Sumitomo Mitsui Financial Group, Inc.
Sumitomo Trust & Banking Co. Ltd.
Suruga Bank Ltd.
Tochigi Bank Ltd.
Toho Bank Ltd.
Tohoku Bank Ltd.
Tokyo Tomin Bank Ltd.
Tomato Bank Ltd.
Tottori Bank Ltd.
Towa Bank Ltd.
Yachiyo Bank Ltd.
Yamagata Bank Ltd.
Yamaguchi Financial Group, Inc.
Yamanashi Chuo Bank Ltd.
258,089
220,963
93,884
72,461
249,699
986,636
9,190,200
1,927,873
367,215
87,583
102,058
53,158
70,519
54,806
56,660
67,803
64,866
96,999
306,736
101,293
49,497,965
72,400
5,600
10,800
3,000
12,900
13,500
3,600
183,000
7,600
27,000
61,000
42,000
900
5,000
L
Beverages: 1.1%
Asahi Breweries Ltd.
Coca-Cola Central Japan Co. Ltd.
Coca-Cola West Holdings Co. Ltd.
Dydo Drinco, Inc.
Ito En Ltd.
Kagome Co. Ltd.
KEY Coffee, Inc.
Kirin Brewery Co. Ltd.
Mikuni Coca-Cola Bottling Co. Ltd.
Oenon Holdings, Inc.
Sapporo Holdings Ltd.
Takara Holdings, Inc.
Unicafe, Inc.
Yomeishu Seizo Co. Ltd.
1,358,546
68,489
176,543
104,028
199,925
230,591
61,223
2,701,901
60,094
53,172
318,849
235,466
5,186
48,135
5,622,148
6,000
179,000
33,000
13,000
33,000
4,600
3,200
29,000
43,000
14,800
17,000
51,650
33,000
@
Building Materials: 1.6%
A&A Material Corp.
Asahi Glass Co. Ltd.
Asahi Organic Chemicals Industry Co. Ltd
Bunka Shutter Co. Ltd.
Central Glass Co. Ltd.
Chofu Seisakusho Co. Ltd.
Cleanup Corp.
Daiken Corp.
Daikin Industries Ltd.
DC Co. Ltd.
Fujitec Co. Ltd.
JS Group Corp.
Krosaki Harima Corp.
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4,824
2,018,981
79,403
36,190
163,177
107,667
26,370
79,860
1,762,199
34,194
101,106
1,052,331
134,875
4,000
65,000
16,000
Marubeni Construction Material Lease Co. Ltd.
Matsushita Electric Works Ltd.
Nice Holdings, Inc.
4,918
821,682
35,304
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Japan Equity Index Portfolio
Shares
23,000
6,800
12,000
1,200
11,000
107,000
4,500
6,400
11,000
38,000
6,000
74,000
187,000
18,000
21,000
20,000
54,000
18,000
Value
Building Materials (continued)
Nichias Corp.
Nichiha Corp.
Nichireki Co. Ltd.
Nikkato Corp.
Nippon Concrete Industries Co. Ltd.
Nippon Sheet Glass Co. Ltd.
Okabe Co. Ltd.
Rinnai Corp.
Sanko Metal Industrial Co. Ltd.
Sanwa Shutter Corp.
Sanyo Industries Ltd.
Sumitomo Osaka Cement Co. Ltd.
Taiheiyo Cement Corp.
Takara Standard Co. Ltd.
Takiron Co. Ltd.
Toli Corp.
Toto Ltd.
Wood One Co. Ltd.
$
102,934
61,366
56,316
5,703
17,071
316,462
17,679
336,438
27,305
127,045
8,475
128,515
268,332
111,939
62,207
38,112
368,470
53,754
8,571,204
10,100
11,300
23,000
2,800
232,000
13,000
5,000
36,000
48,000
8,000
4,000
64,000
25,000
85,000
2,600
500
10,300
1,500
24,000
Chemicals: 3.7%
ADEKA Corp.
Aica Kogyo Co. Ltd.
Air Water, Inc.
Arisawa Manufacturing Co. Ltd.
Asahi Kasei Corp.
Chugoku Marine Paints Ltd.
Co-Op Chemical Co. Ltd.
Dai Nippon Toryo Co. Ltd.
Daicel Chemical Industries Ltd.
Dai-Ichi Kogyo Seiyaku Co. Ltd.
Dainichiseika Color & Chemicals Manufacturing Co. Ltd.
Dainippon Ink & Chemicals
Daiso Co. Ltd.
Denki Kagaku Kogyo K K
Earth Chemical Co. Ltd.
Ebara-Udylite Co. Ltd.
Fujikura Kasei Co. Ltd.
Fujimi, Inc.
Gun-Ei Chemical Industry Co. Ltd.
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101,091
126,093
263,507
19,999
1,249,766
89,577
8,341
39,268
330,409
22,792
15,364
138,251
63,457
365,754
78,975
8,464
55,537
26,505
56,639
5,000
18,400
20,000
4,000
55,000
2,700
34,300
53,000
37,000
6,000
4,000
4,800
4,000
6,000
6,800
220,500
64,000
132,000
5,000
8,000
11,400
28,000
24,000
27,000
5,800
4,000
29,000
39,000
23,000
17,000
12,000
28,000
32,900
14,000
13,000
25,000
5,000
14,000
2,000
@
@
@
@
Harima Chemicals, Inc.
Hitachi Chemical Co. Ltd.
Hodogaya Chemical Co. Ltd.
Ihara Chemical Industry Co. Ltd.
Ishihara Sangyo Kaisha Ltd.
Japan Carlit Co. Ltd.
JSR Corp.
Kaneka Corp.
Kansai Paint Co. Ltd.
Kanto Denka Kogyo Co. Ltd.
Koatsu Gas Kogyo Co. Ltd.
Konishi Co. Ltd.
Kumiai Chemical Industry Co. Ltd.
Lintec Corp.
MEC Co. Ltd./Japan
Mitsubishi Chemical Holdings Corp.
Mitsubishi Gas Chemical Co., Inc.
Mitsui Chemicals, Inc.
Nihon Nohyaku Co. Ltd.
Nihon Parkerizing Co. Ltd.
Nihon Tokushu Toryo Co. Ltd.
Nippon Carbide Industries Co., Inc.
Nippon Carbon Co. Ltd.
Nippon Chemical Industrial Co. Ltd.
Nippon Fine Chemical Co. Ltd.
Nippon Kasei Chemical Co. Ltd.
Nippon Kayaku Co. Ltd.
Nippon Paint Co. Ltd.
Nippon Shokubai Co. Ltd.
Nippon Soda Co. Ltd.
Nippon Synthetic Chemical Industry Co. Ltd.
Nissan Chemical Industries Ltd.
Nitto Denko Corp.
NOF Corp.
Okura Industrial Co. Ltd.
Rasa Industries Ltd.
Sakata INX Corp.
Sanyo Chemical Industries Ltd.
Sekisui Jushi Corp.
28,853
398,608
77,612
12,006
45,307
12,701
716,224
343,895
302,237
46,972
23,754
55,952
12,348
117,408
37,934
1,129,219
386,328
400,184
28,882
108,639
45,903
54,250
78,944
64,734
44,826
7,671
252,213
255,977
207,867
75,331
82,546
391,946
1,277,604
55,411
36,870
28,052
24,512
83,734
17,310
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Japan Equity Index Portfolio
Shares
64,000
245,000
4,800
Value
Chemicals (continued)
Shin-Etsu Chemical Co. Ltd.
Showa Denko KK
ST Corp.
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$
3,724,577
552,973
53,735
1,400
38,000
263,000
13,000
5,100
61,000
15,000
17,000
20,000
17,000
4,000
25,000
37,000
60,000
6,400
88,000
31,000
190,000
5,400
36,000
@
@
L
Stella Chemifa Corp.
Sumitomo Bakelite Co. Ltd.
Sumitomo Chemical Co. Ltd.
Sumitomo Seika Chemicals Co. Ltd.
T Hasegawa Co. Ltd.
Taiyo Nippon Sanso Corp.
Takasago International Corp.
Tayca Corp.
Titan Kogyo KK
Toagosei Co. Ltd.
Toda Kogyo Corp.
Tohpe Corp.
Tokai Carbon Co. Ltd.
Tokuyama Corp.
Tokyo Ohka Kogyo Co. Ltd.
Tosoh Corp.
Toyo Ink Manufacturing Co. Ltd.
Ube Industries Ltd.
Yushiro Chemical Industry Co. Ltd.
Zeon Corp.
59,542
218,078
1,287,731
51,191
77,026
597,379
80,910
45,120
55,516
72,426
29,601
24,058
215,654
332,653
118,911
223,810
139,310
487,743
67,968
210,508
19,156,973
Coal: 0.0%
Mitsui Matsushima Co. Ltd.
40,000
80,141
80,141
5,400
1,900
13,100
1,100
210
8,300
115,000
900
1,800
43
10,900
372
8,400
141
1,200
22
7,300
2,900
44,000
13,400
3,000
4,100
9,000
3,700
18,000
5,200
@
@
Commercial Services: 1.5%
Aeon Delight Co. Ltd.
Agrex, Inc.
Benesse Corp.
Central Security Patrols Co. Ltd.
CMIC Co. Ltd.
CTI Engineering Co. Ltd.
Dai Nippon Printing Co. Ltd.
Daiohs Corp.
Daiseki Co. Ltd.
Dream Incubator, Inc.
Duskin Co. Ltd.
FULLCAST Holdings Co. Ltd.
Funai Consulting Co. Ltd.
Future Architect, Inc.
Gakujo Co. Ltd.
GMO Payment Gateway, Inc.
Hakuyosha Co. Ltd.
Intage, Inc.
Kamigumi Co. Ltd.
Kosaido Co. Ltd.
Kyodo Printing Co. Ltd.
Kyoritsu Maintenance Co. Ltd.
Meiko Network Japan Co. Ltd.
Meitec Corp.
Mitsumura Printing Co. Ltd.
NAC Co. Ltd.
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75,924
15,150
567,956
10,689
48,780
43,972
1,555,512
4,798
37,523
29,334
194,031
22,582
45,484
53,637
3,931
27,499
20,845
49,663
354,226
26,273
8,885
60,172
55,003
72,549
63,188
48,692
8,400
14
3,400
3,700
21,000
7,000
17,000
13,300
15,000
78
1,300
5,400
1,400
38,500
10,500
3,500
16,500
10,000
5,800
5,600
267
3,000
6,600
3,800
L
@
@
@
L
Nichii Gakkan Co.
Nihon M&A Center, Inc.
Nippon Kanzai Co. Ltd.
Nippon Kucho Service Co. Ltd.
Nissin Corp.
Nohmi Bosai Ltd.
Nomura Co. Ltd.
Park24 Co. Ltd.
Pasco Corp.
Pasona Group, Inc.
PIA Corp.
Pronexus, Inc.
San Holdings, Inc.
Secom Co. Ltd.
Shingakukai Co. Ltd.
Shuei Yobiko Co. Ltd.
Sohgo Security Services Co. Ltd.
Subaru Enterprise Co. Ltd.
Tac Co. Ltd.
Takara Printing Co. Ltd.
Take And Give Needs Co. Ltd.
Tanseisha Co. Ltd.
Temp Holdings Co. Ltd.
TKC Corp.
73,965
48,033
54,952
29,927
48,550
44,279
49,130
136,073
29,229
51,395
16,965
31,653
22,800
1,685,684
36,196
20,573
191,257
29,121
22,772
44,967
24,639
7,033
53,454
70,308
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Japan Equity Index Portfolio
Shares
5,700
7,300
108,000
20,000
6,700
8,700
132,300
4,400
3,500
Value
@
Commercial Services (continued)
Tokyo Individualized Educational Institute, Inc.
Toppan Forms Co. Ltd.
Toppan Printing Co. Ltd.
Tosho Printing Co. Ltd.
Unimat Life Corp.
Utoc Corp.
Venture Link Co. Ltd.
Watabe Wedding Corp.
Weathernews, Inc.
$
10,002
80,680
976,769
38,297
96,338
26,066
21,168
48,693
42,924
7,660,190
7,700
10,800
390,000
8,100
1,600
7,400
14,400
@
Computers: 1.1%
CAC Corp.
CSK Corp.
Fujitsu Ltd.
Ines Corp.
I-Net Corp.
Information Services International-Dentsu Ltd.
Itfor, Inc.
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55,150
47,012
2,560,259
60,308
8,091
39,707
51,601
2,200
3,100
8,300
9,200
3,300
82
232
1,200
2,800
400
4,100
18,800
1,000
Itochu Techno-Solutions Corp.
Japan Digital Laboratory Co.
JBCC Holdings, Inc.
JBIS Holdings, Inc.
Melco Holdings, Inc.
Net One systems Co. Ltd.
NTT Data Corp.
Obic Co. Ltd.
Otsuka Corp.
Panasonic Electric Works Information systems Co. Ltd.
Roland DG Corp.
TDK Corp.
Toukei Computer Co. Ltd.
72,295
33,099
50,785
31,130
73,211
104,465
773,560
218,073
178,077
10,134
72,982
1,253,302
12,398
5,705,639
4,900
5,000
41
6,400
1,700
106,800
5,700
31,000
1,800
1,500
2,200
66,700
7,700
L
Cosmetics/Personal Care: 1.1%
Aderans Co. Ltd.
Combi Corp.
Dr Ci:Labo Co. Ltd.
Fancl Corp.
House of Rose Co. Ltd.
Kao Corp.
Kose Corp.
Lion Corp.
Mandom Corp.
Milbon Co. Ltd.
Pigeon Corp.
Shiseido Co. Ltd.
Uni-Charm Corp.
58,157
37,135
96,149
121,219
23,118
2,708,620
133,802
156,182
49,092
34,348
81,943
1,451,433
743,412
5,694,610
6,800
14,800
13,600
34,000
26,000
4,600
2,300
1,300
5,600
33,000
49,000
3,600
13,300
5,000
7,400
255,000
8,700
2,300
36,000
800
20,000
@
@
Distribution/Wholesale: 4.5%
Advan Co. Ltd.
Ai Holdings Corp.
Canon Sales Co., Inc.
Chori Co. Ltd.
Daiwabo Holdings Co. Ltd.
Doshisha Co. Ltd.
Echo Trading Co. Ltd.
Elematec Corp.
F&A Aqua Holdings, Inc.
Fuji Kosan Co. Ltd.
GSI Creos Corp.
Happinet Corp.
Hitachi High-Technologies Corp.
Inaba Denki Sangyo Co. Ltd.
Inabata & Co. Ltd.
Itochu Corp.
Itochu Enex Co. Ltd.
Itochu-Shokuhin Co. Ltd.
Iwatani International Corp.
Jalux, Inc.
Japan Pulp & Paper Co. Ltd.
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48,134
50,031
185,250
40,800
54,025
119,360
22,039
15,803
55,857
25,420
59,242
43,983
305,425
115,993
34,954
2,238,180
45,938
72,939
105,579
6,401
71,716
9,000
58,000
7,500
2,100
302,000
2,400
5,200
291,800
315,000
@
@
L
JK Holdings Co. Ltd.
Kanematsu Corp.
Kitazawa Sangyo Co. Ltd.
Kohsoku Corp.
Marubeni Corp.
Matsuda Sangyo Co. Ltd.
Meiwa Corp.
Mitsubishi Corp.
Mitsui & Co. Ltd.
35,055
47,850
15,405
15,101
1,879,710
44,649
11,345
7,662,584
5,303,762
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Japan Equity Index Portfolio
Shares
8,000
20,000
5,600
4,800
8,100
3,400
7,700
7,000
4,000
32,100
8,500
10,000
3,900
3,600
6,000
102
18,000
9,400
4,000
254,900
3,900
201,300
9,000
40,000
18,000
2,000
1,100
12,000
300
4,100
35,300
7,000
16,000
Value
@
Distribution/Wholesale (continued)
Mitsuuroko Co. Ltd.
Nagase & Co. Ltd.
Nakayamafuku Co. Ltd.
Nippon Gas Co. Ltd.
Ohashi Technica, Inc.
Ryoshoku Ltd.
Ryoyo Electro Corp.
Sala Corp.
San-Ai Oil Co. Ltd.
Sankyo Seiko Co. Ltd.
Satori Electric Co. Ltd.
Seika Corp.
Shimojima Co. Ltd.
Shinwa Co. Ltd./Nagoya
Shinyei Kaisha
SHIP HEALTHCARE HOLDINGS, Inc.
Sinanen Co. Ltd.
SK Japan Co. Ltd.
Soda Nikka Co. Ltd.
Sojitz Corp.
Sugimoto & Co. Ltd.
Sumitomo Corp.
Tachibana Eletech Co. Ltd.
Taiheiyo Kouhatsu, Inc.
Takashima & Co. Ltd.
Takihyo Co. Ltd.
Tanaka Co. Ltd./Tokyo
Tokai Corp.
Tomen Devices Corp.
Tomen Electronics Corp.
Toyota Tsusho Corp.
Trusco Nakayama Corp.
Tsubakimoto Kogyo Co. Ltd.
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$
59,364
250,408
34,884
71,377
51,841
79,711
73,784
42,393
16,054
99,270
55,680
22,897
54,974
39,152
9,630
58,185
74,563
32,186
15,247
494,182
36,735
2,318,083
72,067
33,808
27,001
10,123
4,028
66,788
5,823
49,866
554,549
110,589
34,960
12,000
10,300
31,000
@
Tsukamoto Corp. Co. Ltd.
Yamazen Corp.
Yuasa Trading Co. Ltd.
10,402
43,785
29,540
23,776,459
8,890
17,200
45,950
39,300
5,600
28,100
8,700
343,000
10,320
370
2,300
8,300
6,100
13,900
12,000
7,300
19,000
10,300
50
2,000
9,400
14,500
11,000
56,000
94,100
729,500
33,000
19,170
16,100
4,900
13,950
1,100
57
26
100,000
15,010
46,000
19,000
L
@
@, L
@
@
L
Diversified Financial Services: 2.3%
Acom Co. Ltd.
Aeon Credit Service Co. Ltd.
Aiful Corp.
Cedyna Financial Corp.
Century Leasing System, Inc.
Credit Saison Co. Ltd.
Daiko Clearing Services Corp.
Daiwa Securities Group, Inc.
Diamond Lease Co. Ltd.
Fidec Corp.
Fuyo General Lease Co. Ltd.
Hitachi Capital Corp.
IBJ Leasing Co. Ltd.
Ichinen Holdings Co. Ltd.
Ichiyoshi Securities Co. Ltd.
Iwai Securities Co. Ltd.
Jaccs Co. Ltd.
Japan Securities Finance Co. Ltd.
Kenedix, Inc.
Kosei Securities Co. Ltd.
Kyokuto Securities Co. Ltd.
Marusan Securities Co. Ltd.
Mito Securities Co. Ltd.
Mizuho Investors Securities Co. Ltd.
NIS Group Co. Ltd.
Nomura Holdings, Inc.
Okasan Securities Group, Inc.
ORIX Corp.
Osaka Securities Finance Co. Ltd.
Pocket Card Co. Ltd.
Promise Co. Ltd.
Ricoh Leasing Co. Ltd.
Risa Partners, Inc.
Secured Capital Japan Co. Ltd.
Shinko Securities Co. Ltd.
Takefuji Corp.
Tokai Tokyo Financial Holdings
Toyo Securities Co. Ltd.
145,640
204,455
67,366
69,791
77,637
436,080
37,302
1,807,840
376,007
46,320
65,149
118,284
121,857
60,107
82,171
45,972
40,263
75,836
14,674
2,208
88,730
88,358
27,795
58,795
23,150
5,352,814
158,001
1,702,107
33,267
13,688
129,698
25,733
30,801
21,282
316,644
63,989
192,166
39,473
12,261,450
ING Japan Equity Index Portfolio
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
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Shares
Value
124,600
54,300
27,300
33,100
38,700
155,300
79,800
1,700
37,900
94,100
236,000
L
L
L
L
L
Electric: 4.1%
Chubu Electric Power Co., Inc.
Chugoku Electric Power Co., Inc.
Electric Power Development Co.
Hokkaido Electric Power Co., Inc.
Hokuriku Electric Power Co.
Kansai Electric Power Co., Inc.
Kyushu Electric Power Co., Inc.
Okinawa Electric Power Co., Inc.
Shikoku Electric Power Co.
Tohoku Electric Power Co., Inc.
Tokyo Electric Power Co., Inc.
$
3,116,505
1,079,956
900,160
635,311
851,698
3,559,990
1,738,321
88,807
1,074,702
1,990,621
6,294,474
21,330,545
46,200
40,000
52,000
2,000
113,000
70,000
3,100
3,800
17,000
863,146
3,600
39,000
7,000
345,000
1,600
6,000
6,000
387,000
5,000
27,000
33,000
13,000
29,000
15,000
18,400
L
@
@
@
Electrical Components & Equipment: 2.0%
Brother Industries Ltd.
Casio Computer Co. Ltd.
Fujikura Ltd.
Funai Electric Co. Ltd.
Furukawa Electric Co. Ltd.
GS Yuasa Corp.
Helios Techno Holdings Co. Ltd.
Hirakawa Hewtech Corp.
Hitachi Cable Ltd.
Hitachi Ltd.
Icom, Inc.
Ikegami Tsushinki Co. Ltd.
Iwasaki Electric Co. Ltd.
Mitsubishi Electric Corp.
Nihon Trim Co. Ltd.
Nippon Seisen Co. Ltd.
Nissin Electric Co. Ltd.
Sanyo Electric Co. Ltd.
Shin-Kobe Electric Machinery Co. Ltd.
Sinfonia Technology Co.
SWCC Showa Holdings Co. Ltd.
Takaoka Electric Manufacturing Co. Ltd.
Tokyo Rope Manufacturing Co. Ltd.
Toshiba Tec Corp.
Ushio, Inc.
559,614
308,222
300,084
84,387
588,173
473,312
10,100
29,801
50,807
3,211,433
92,271
31,767
13,185
3,176,520
31,833
18,951
31,724
621,445
48,628
63,036
33,607
45,002
80,515
59,445
312,747
10,276,609
7,000
26,800
3,000
6,400
35,200
4,800
6,100
6,800
L
@
Electronics: 5.5%
A&D Co. Ltd
Advantest Corp.
Aichi Tokei Denki Co. Ltd
Alpha Corp.
Alps Electric Co. Ltd.
Chiyoda Integre Co. Ltd.
CMK Corp.
Cosel Co. Ltd.
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29,879
672,018
9,019
63,022
243,349
64,770
45,912
98,243
41,000
2,700
2,200
4,400
2,200
3,800
19,000
4,100
11,200
2,700
6,000
10,000
33,000
6,700
9,100
84,900
26,100
2,000
12,000
21,000
1,300
6,000
7,500
2,200
31,500
2,000
5,500
900
6,100
900
@
Dainippon Screen Manufacturing Co. Ltd.
Daito Electron Co. Ltd.
Eizo Nanao Corp.
Enplas Corp.
ESPEC Corp.
Excel Co. Ltd.
Fujitsu General Ltd.
Futaba Corp.
Hamamatsu Photonics KK
Hioki EE Corp.
Hirose Electric Co. Ltd.
Hochiki Corp.
Hokuriku Electric Industry Co. Ltd.
Horiba Ltd.
Hosiden Corp.
Hoya Corp.
Ibiden Co. Ltd.
Idec Corp.
Japan Aviation Electronics Industry Ltd.
Jeol Ltd.
Kaga Electronics Co. Ltd.
Kanaden Corp.
Keyence Corp.
Kuroda Electric Co. Ltd.
Kyocera Corp.
Kyoei Sangyo Co. Ltd./Tokyo
Mabuchi Motor Co. Ltd.
Macnica, Inc.
Marubun Corp.
Maruwa Co. Ltd./Aichi
192,066
15,020
54,295
86,683
18,775
50,904
86,570
81,080
316,952
49,825
692,932
54,463
63,604
192,694
119,347
2,337,637
900,849
17,976
90,949
80,927
14,010
31,836
1,795,788
30,326
3,074,758
3,965
317,183
14,743
37,030
19,121
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Japan Equity Index Portfolio
Shares
55,000
12,100
900
41,600
15,200
5,400
478,000
46,000
6,900
2,100
9,900
17,600
Value
@
@
L
Electronics (continued)
Minebea Co. Ltd.
Mitsumi Electric Co. Ltd.
Moritex Corp.
Murata Manufacturing Co. Ltd.
Mutoh Holdings Co. Ltd.
Nagano Keiki Co. Ltd.
NEC Corp.
NGK Insulators Ltd.
Nichicon Corp.
Nichiden Corp.
Nidec Copal Electronics Corp.
Nidec Corp.
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$
335,074
265,287
2,749
2,367,327
25,395
35,958
1,439,761
940,343
85,177
57,336
75,225
1,887,104
3,400
4,300
22,000
67,000
6,300
4,900
1,100
39,100
1,300
2,000
5,800
1,800
1,500
6,200
3,400
12,000
8,100
4,200
800
15,000
10,000
12,000
1,500
7,500
836,000
22,500
8,000
3,500
6,400
3,300
63
14,100
6,700
42,000
40,000
@
L
L
L
@
Nihon Dempa Kogyo Co. Ltd.
Nippon Ceramic Co. Ltd.
Nippon Chemi-Con Corp.
Nippon Electric Glass Co. Ltd.
Nissha Printing Co. Ltd.
Nitto Kogyo Corp.
Okaya Electric Industries Co. Ltd.
Omron Corp.
Optex Co. Ltd.
Osaki Electric Co. Ltd.
Ryosan Co. Ltd.
Sanshin Electronics Co. Ltd.
Sato Corp.
Shinko Shoji Co. Ltd.
Siix Corp.
SMK Corp.
Soshin Electric Co. Ltd.
Star Micronics Co. Ltd.
Suzuden Corp.
Taiyo Yuden Co. Ltd.
Tamura Corp.
Tokimec, Inc.
Tokyo Denpa Co. Ltd.
Tokyo Seimitsu Co. Ltd.
Toshiba Corp.
Totoku Electric Co. Ltd.
Toyo Corp./Chuo-ku
UKC Holdings Corp.
Ulvac, Inc.
Unidux, Inc.
Wacom Co. Ltd.
Yamaichi Electronics Co. Ltd.
Yamatake Corp.
Yaskawa Electric Corp.
Yokogawa Electric Corp.
71,178
52,311
86,721
945,701
246,293
51,268
3,827
909,509
15,651
17,712
147,794
15,227
21,412
53,568
43,804
61,768
37,857
46,255
4,406
237,342
34,625
21,187
10,692
129,729
4,326,989
24,324
70,312
46,785
166,383
16,943
96,241
60,582
156,912
384,824
349,385
28,550,773
9,500
3,600
26,000
1,500
32,000
5,700
6,000
13,300
10,000
16,000
49,900
3,000
52,700
10,800
@
Engineering & Construction: 1.2%
Airport Facilities Co. Ltd.
Asahi Kogyosha Co. Ltd
Asanuma Corp.
Asunaro Aoki Construction Co. Ltd.
Chiyoda Corp.
Chudenko Corp.
Commuture Corp.
COMSYS Holdings Corp.
Dai-Dan Co. Ltd.
Daiho Corp.
Fudo Tetra Corp.
Haltec Corp.
Hazama Corp.
Hibiya Engineering Ltd.
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52,281
15,012
19,184
6,948
317,969
72,776
34,679
128,983
50,266
14,030
30,950
4,366
47,385
93,368
8,800
39,000
195,000
5,000
2,900
25,000
15,000
5,000
38,000
15,500
6,000
19,000
11,000
6,000
27,000
L
@
Japan Airport Terminal Co. Ltd.
JGC Corp.
Kajima Corp.
Kandenko Co. Ltd.
Kawada Technologies, Inc.
Kinden Corp.
Kitano Construction Corp.
Komai Tekko, Inc.
Kumagai Gumi Co. Ltd.
Kyowa Exeo Corp.
Kyudenko Corp.
Maeda Corp.
Maeda Road Construction Co. Ltd.
Matsui Construction Co. Ltd.
Mitsubishi Kakoki Kaisha Ltd.
122,285
696,180
478,460
31,809
50,546
219,380
33,866
11,400
26,459
128,244
36,034
56,566
89,675
22,885
73,994
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Japan Equity Index Portfolio
Shares
5,000
5,000
6,000
14,000
10,000
2,000
82,000
115,000
3,000
39,000
30,500
6,100
5,800
38,000
24,800
2,000
18,000
86,000
131,000
8,500
26,500
4,600
2,700
26,700
1,000
17,000
2,300
Value
@
@
@
@, L
@
@
L
@
Engineering & Construction (continued)
Miyaji Engineering Group, Inc.
Nakano Corp.
NEC Networks & System Integration Corp.
Nippo Corp.
Nippon Densetsu Kogyo Co. Ltd.
Nippon Road Co. Ltd.
Nishimatsu Construction Co. Ltd.
Obayashi Corp.
Obayashi Road Corp.
Okumura Corp.
Penta-Ocean Construction Co. Ltd.
PS Mitsubishi Construction Co. Ltd.
Raito Kogyo Co. Ltd.
Sakurada Co. Ltd.
Sanix, Inc.
Sanki Engineering Co. Ltd.
Sata Construction Co. Ltd.
Seikitokyu Kogyo Co. Ltd.
Shimizu Corp.
Shinko Plantech Co. Ltd.
Shinnihon Corp.
SHO-BOND Holdings Co. Ltd.
Sumitomo Densetsu Co. Ltd.
Sumitomo Mitsui Construction Co. Ltd.
Taihei Dengyo Kaisha Ltd.
Taihei Kogyo Co. Ltd.
Taikisha Ltd.
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$
5,885
10,387
79,577
107,526
78,336
5,053
107,171
511,239
6,837
136,660
42,150
20,900
13,721
11,375
45,710
14,092
7,129
53,227
547,569
75,370
46,223
90,252
13,094
23,161
9,172
72,959
37,140
188,500
7,000
12,000
12,000
13,000
7,000
50,000
38,000
5,000
11,000
2,000
18,720
13,100
1,000
10,000
73,000
27,000
4,000
8,100
62,000
10,000
11,000
8,000
4,000
@
@
@
@
Taisei Corp.
Takasago Thermal Engineering Co. Ltd.
Takuma Co. Ltd.
Tekken Corp.
Toa Corp.
TOA Road Corp.
Tobishima Corp.
Toda Corp.
Todentsu Corp.
Toenec Corp.
Tokyo Energy & Systems, Inc.
Tokyu Construction Co. Ltd.
Tomoe Corp.
Toshiba Plant Systems & Services Corp.
Totetsu Kogyo Co. Ltd.
Toyo Construction Co. Ltd.
Toyo Engineering Corp.
Tsukishima Kikai Co. Ltd.
Ueki Corp.
Wakachiku Construction Co. Ltd.
Yahagi Construction Co. Ltd.
Yamato Corp.
Yondenko Corp.
Yurtec Corp.
415,868
55,543
28,880
10,280
14,762
12,956
14,428
137,156
8,394
59,805
13,779
56,313
33,532
11,263
55,433
37,486
103,832
27,913
11,262
36,495
57,576
38,144
37,305
20,249
6,436,549
1,300
2,200
82,000
3,400
1,700
3,000
9,900
6,000
9,300
21,000
8,000
27,700
33,000
9,000
15,000
@
Entertainment: 0.4%
Aeon Fantasy Co. Ltd.
Avex Group Holdings, Inc.
Columbia Music Entertainment, Inc.
Heiwa Corp.
Horipro, Inc.
Mars Engineering Corp.
Oriental Land Co. Ltd.
Resort Solution Co. Ltd.
Sankyo Co. Ltd.
Shochiku Co. Ltd.
Toei Co. Ltd.
Toho Co. Ltd.
Tokyo Theatres Co., Inc.
Tokyotokeiba Co. Ltd.
Yomiuri Land Co. Ltd.
15,400
19,028
29,000
34,969
12,735
61,313
690,627
10,976
460,399
174,807
40,953
446,521
50,105
12,814
50,274
2,109,921
1,400
8,200
167,000
21,300
6,500
L
Environmental Control: 0.2%
Airtech Japan Ltd.
Asahi Holdings, Inc.
Hitachi Zosen Corp.
Kurita Water Industries Ltd.
Oyo Corp.
7,571
141,561
245,102
604,177
56,054
1,054,465
108,000
Food: 1.6%
Ajinomoto Co., Inc.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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1,070,794
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Japan Equity Index Portfolio
Shares
Value
4,400
3,200
8,100
10,000
10,700
5,000
6,000
5,000
37,000
6,000
12,400
2,200
5,000
25,000
21,000
5,100
41,000
6,000
20,000
81,000
7,100
13,400
2,300
20,000
32,000
36,000
36,000
19,000
3,000
8,000
5,100
54,000
28,000
15,000
10,000
33,000
45,600
13,000
35,500
13,100
600
12,000
@
@
L
L
@
Food (continued)
Ariake Japan Co. Ltd.
Belc Co. Ltd.
Eco’s Co. Ltd.
Ezaki Glico Co. Ltd.
Fuji Oil Co. Ltd.
Fujicco Co. Ltd.
Fujiya Co. Ltd.
Harashin Narus Holdings Co. Ltd.
Hayashikane Sangyo Co. Ltd.
Hohsui Corp.
House Foods Corp.
Hurxley Corp.
Inageya Co. Ltd.
Itoham Foods, Inc.
J-Oil Mills, Inc.
Kato Sangyo Co. Ltd.
Kikkoman Corp.
Kyodo Shiryo Co. Ltd.
Marudai Food Co. Ltd.
Maruha Nichiro Holdings, Inc.
Megmilk Snow Brand Co. Ltd.
MEIJI Holdings Co. Ltd.
Meito Sangyo Co. Ltd.
Mitsui Sugar Co. Ltd.
Miyoshi Oil & Fat Co. Ltd.
Morinaga & Co. Ltd.
Morinaga Milk Industry Co. Ltd.
Morozoff Ltd.
Nagatanien Co. Ltd.
Nakamuraya Co. Ltd.
Natori Co. Ltd.
Nichirei Corp.
Nippon Beet Sugar Manufacturing Co. Ltd.
Nippon Flour Mills Co. Ltd.
Nippon Formula Feed Manufacturing Co. Ltd.
Nippon Meat Packers, Inc.
Nippon Suisan Kaisha Ltd.
Nisshin Oillio Group Ltd.
Nisshin Seifun Group, Inc.
Nissin Food Products Co. Ltd.
OIE Sangyo Co. Ltd.
Prima Meat Packers Ltd.
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$
64,286
28,599
51,524
116,728
151,280
57,516
13,669
58,116
46,740
8,093
180,313
15,128
51,945
94,965
65,842
83,695
480,515
7,705
57,154
115,228
110,582
519,981
32,150
66,755
50,033
80,143
141,834
61,596
28,266
39,865
44,564
202,254
68,306
74,816
12,096
417,502
132,316
62,983
458,468
440,929
5,575
12,704
22,600
3,600
6,500
11,000
15,000
16,000
32,000
7,300
7,000
19,000
2,900
1,600
6,000
24,300
31,000
4,100
1,300
4,000
6,500
L
QP Corp.
Rock Field Co. Ltd.
S Foods, Inc.
Showa Sangyo Co. Ltd.
Starzen Co. Ltd.
Toho Co. Ltd./Hyogo
Tohto Suisan Co. Ltd.
Torigoe Co. Ltd.
Toyo Sugar Refining Co. Ltd.
Toyo Suisan Kaisha Ltd.
Unicharm Petcare Corp.
Universe Co. Ltd.
Yaizu Suisankagaku Industry Co. Ltd.
Yakult Honsha Co. Ltd.
Yamazaki Baking Co. Ltd.
Yamazawa Co. Ltd.
Yaoko Co. Ltd.
Yokohama Reito Co. Ltd.
Yonekyu Corp.
245,432
52,578
53,841
33,883
39,965
56,835
56,157
57,692
9,131
491,589
92,026
21,340
73,787
655,665
383,995
55,981
38,393
28,678
54,967
8,385,488
Food Service: 0.0%
Warabeya Nichiyo Co. Ltd.
5,400
63,874
63,874
9,000
17,000
28,000
19,800
97,000
19,429
168,000
3,900
26,800
43,000
22,000
27,000
@
L
Forest Products & Paper: 0.4%
Chuetsu Pulp & Paper Co. Ltd.
Daio Paper Corp.
Hokuetsu Kishu Paper Co. Ltd.
Kanematsu-NNK Corp.
Mitsubishi Paper Mills Ltd.
Nippon Paper Group, Inc.
OJI Paper Co. Ltd.
Pack Corp.
Sumitomo Forestry Co. Ltd.
Tokushu Tokai Holdings Co. Ltd.
Tomoegawa Co. Ltd.
Tomoku Co. Ltd.
16,173
139,609
139,959
30,495
116,327
499,925
737,345
58,572
219,054
114,545
46,369
61,815
2,180,188
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Japan Equity Index Portfolio
Shares
18,000
394,000
36,000
7,000
87,000
Value
Gas: 0.8%
Hokkaido Gas Co. Ltd.
Osaka Gas Co. Ltd.
Saibu Gas Co. Ltd.
Shizuoka Gas Co. Ltd.
Toho Gas Co. Ltd.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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$
47,376
1,412,596
100,910
40,081
475,037
477,000
Tokyo Gas Co. Ltd.
2,103,953
4,179,953
Hand/Machine Tools: 0.8%
Asahi Diamond Industrial Co. Ltd
Dijet Industrial Co. Ltd.
Disco Corp.
Fuji Electric Holdings Co. Ltd.
Hitachi Koki Co. Ltd.
Hitachi Tool Engineering Ltd.
Makita Corp.
Meidensha Corp.
Mori Seiki Co. Ltd.
Nitto Seiko Co. Ltd.
OSG Corp.
SMC Corp.
THK Co. Ltd.
Toyo Electric Manufacturing Co. Ltd.
Union Tool Co.
3,000
2,000
3,600
76,000
10,900
1,200
24,100
31,000
14,600
9,000
12,300
11,600
24,600
8,000
2,600
27,576
3,103
221,875
207,626
117,623
12,460
795,543
138,251
180,564
27,364
129,963
1,577,564
537,811
58,341
72,831
4,108,495
Healthcare - Products: 0.5%
Aloka Co. Ltd.
As One Corp.
Create Medic Co. Ltd.
Hitachi Medical Corp.
Hogy Medical Co. Ltd.
Japan Medical Dynamic Marketing, Inc.
Nihon Kohden Corp.
Nipro Corp.
Paramount Bed Co. Ltd.
Shimadzu Corp.
Sysmex Corp.
Terumo Corp.
Topcon Corp.
3,500
3,600
1,200
4,000
1,800
4,000
8,200
5,100
3,700
38,000
5,200
28,500
6,700
27,658
63,323
11,302
34,179
83,002
11,810
151,025
98,615
72,474
304,910
305,244
1,519,512
37,089
2,720,143
2,900
4,100
523
@
Healthcare - Services: 0.0%
BML, Inc.
Falco Biosystems Ltd.
I’rom Holdings Co. Ltd.
73,288
40,873
11,825
125,986
29,600
@
Holding Companies - Diversified: 0.0%
Sumiseki Holdings, Inc.
29,150
29,150
7,000
108,000
233,000
9,600
2,000
43,000
2,000
@
@
@
Home Builders: 0.6%
Daisue Construction Co. Ltd.
Daiwa House Industry Co. Ltd.
Haseko Corp.
Misawa Homes Co. Ltd.
Mitsui Home Co. Ltd.
Nissei Build Kogyo Co. Ltd.
PanaHome Corp.
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2,771
1,220,727
216,665
33,405
10,957
29,408
13,360
71,000
115,000
23,000
4,900
540
@
Sekisui Chemical Co. Ltd.
Sekisui House Ltd.
SxL Corp.
Takamatsu Construction Group Co. Ltd.
Token Corp.
481,421
1,151,039
14,038
60,204
15,439
3,249,434
7,200
1,500
60,000
2,000
1,900
3,600
9,000
7,100
52,000
99,200
361,400
3,200
6,000
6,000
@
@, L
@
@
@
Home Furnishings: 3.1%
Alpine Electronics, Inc.
Canon Electronics, Inc.
Clarion Co. Ltd.
Corona Corp.
Dainichi Co. Ltd.
Foster Electric Co. Ltd.
France Bed Holdings Co. Ltd.
Hoshizaki Electric Co. Ltd.
Janome Sewing Machine Co. Ltd.
JVC Kenwood Holdings, Inc.
Matsushita Electric Industrial Co. Ltd.
Miyakoshi Corp.
Nidec Sankyo Corp.
Noritz Corp.
87,785
33,199
145,891
25,462
13,175
100,212
12,997
106,310
38,347
41,437
5,540,637
20,152
53,133
92,512
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Japan Equity Index Portfolio
Shares
Value
36,000
595,000
176,000
581,000
197,500
71,000
@
L
@
@
Home Furnishings (continued)
Pioneer Corp.
Sansui Electric Co. Ltd.
Sharp Corp.
Silver Seiko Ltd.
Sony Corp.
Teac Corp.
$
132,304
31,822
2,204,009
37,287
7,567,485
34,232
16,318,388
5,600
16,100
5,100
80
Household Products/Wares: 0.1%
King Jim Co. Ltd.
Kokuyo Co. Ltd.
Mitsubishi Pencil Co. Ltd.
Pilot Corp.
42,408
134,250
75,807
118,811
371,276
36,000
4,000
7,200
Housewares: 0.0%
Danto Holdings Corp.
Noritake Co. Ltd.
Sangetsu Co. Ltd.
36,998
11,588
163,528
212,114
32,000
109,411
Insurance: 2.2%
Fuji Fire & Marine Insurance Co.
Mitsui Sumitomo Insurance Group Holdings, Inc.
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42,796
3,042,804
134,000
166,000
131
66,700
148,900
I, X
I, X
Nipponkoa Insurance Co. Ltd.
Sompo Japan Insurance, Inc.
Sony Financial Holdings, Inc.
T&D Holdings, Inc.
Tokio Marine Holdings, Inc.
829,886
1,129,276
430,617
1,582,689
4,197,666
11,255,734
6,000
73
46
27
190
421
9,900
9
33
16,800
10
14
19,200
143
3,572
65
31
20
15,200
2,175
L
@
L
Internet: 0.6%
Asahi Net, Inc.
Cybozu, Inc.
Dena Co. Ltd.
Dwango Co. Ltd.
eAccess Ltd.
Faith, Inc.
GMO internet, Inc.
Gourmet Navigator, Inc.
Internet Initiative Japan, Inc.
kabu.com Securities Co. Ltd.
Kakaku.com, Inc.
Macromill, Inc.
Matsui Securities Co. Ltd.
Monex Beans Holdings, Inc.
Softbank Investment Corp.
Softbrain Co. Ltd.
So-net Entertainment Corp.
So-net M3, Inc.
Trend Micro, Inc.
Yahoo! Japan Corp.
18,422
29,672
340,607
45,578
138,889
49,774
37,822
17,386
73,065
90,683
36,283
20,264
137,504
70,506
706,263
4,066
77,251
68,432
530,591
793,336
3,286,394
21,000
7,000
55,000
41,000
22,000
83,500
544,000
35,000
3,700
20,000
17,000
31,000
25,000
41,000
1,064,000
22,500
160,000
4,800
25,000
707,000
14,700
12,000
@
Iron/Steel: 2.5%
Aichi Steel Corp.
Daido Metal Co. Ltd.
Daido Steel Co. Ltd.
Godo Steel Ltd.
Hitachi Metals Ltd.
JFE Holdings, Inc.
Kobe Steel Ltd.
Kurimoto Ltd.
Kyoei Steel Ltd.
Mitsubishi Steel Manufacturing Co. Ltd.
Nakayama Steel Works Ltd.
Nippon Kinzoku Co. Ltd.
Nippon Koshuha Steel Co. Ltd.
Nippon Metal Industry Co. Ltd.
Nippon Steel Corp.
Nippon Yakin Kogyo Co. Ltd.
Nisshin Steel Co. Ltd.
Osaka Steel Co. Ltd.
Sanyo Special Steel Co. Ltd.
Sumitomo Metal Industries Ltd.
Tokyo Steel Manufacturing Co. Ltd.
Tokyo Tekko Co. Ltd.
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94,248
25,776
231,566
92,223
231,619
3,368,950
1,171,347
70,057
78,136
49,052
26,583
58,671
27,032
66,730
4,183,899
89,289
334,101
76,507
108,148
2,143,392
184,292
36,592
36,000
5,000
8,000
20,000
Topy Industries Ltd.
Toyo Kohan Co. Ltd.
Yamato Kogyo Co. Ltd.
Yodogawa Steel Works Ltd.
81,770
30,212
266,136
89,741
13,216,069
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Japan Equity Index Portfolio
Shares
Value
72
2,500
2,900
11,000
4,500
7,000
56,000
3,000
69
7,700
5,300
5,400
42,400
15,400
39
20,000
26,300
45,800
@
Leisure Time: 0.5%
Accordia Golf Co. Ltd.
Central Sports Co. Ltd.
Daikoku Denki Co. Ltd.
Daiwa Seiko, Inc.
HIS Co. Ltd.
Kawai Musical Instruments Manufacturing Co. Ltd.
Kinki Nippon Tourist Co. Ltd.
Mizuno Corp.
Pacific Golf Group International Holdings KK
Renaissance, Inc.
Roland Corp.
Round One Corp.
Sega Sammy Holdings, Inc.
Shimano, Inc.
SRI Sports Ltd.
Tokyo Dome Corp.
Yamaha Corp.
Yamaha Motor Co. Ltd.
$
72,338
23,273
51,124
13,901
92,244
15,534
51,598
13,259
45,537
26,379
63,646
35,549
513,716
682,650
37,178
56,936
340,018
688,040
2,822,920
24,000
7,100
33,000
@
Lodging: 0.0%
Fujita Kanko, Inc.
Resorttrust, Inc.
Tokai Kanko Co. Ltd.
96,342
104,216
10,948
211,506
12,200
18,600
32,000
12,000
172,500
3,100
4,100
54,300
17,000
19,000
L
Machinery - Construction & Mining: 0.9%
Aichi Corp.
Hitachi Construction Machinery Co. Ltd.
Kato Works Co. Ltd.
Kitagawa Iron Works Co. Ltd.
Komatsu Ltd.
Maezawa Kyuso Industries Co. Ltd.
Modec, Inc.
Nippon Conveyor Co. Ltd.
Sakai Heavy Industries Ltd.
Tadano Ltd.
52,891
440,252
68,205
19,389
3,624,136
42,325
73,620
52,900
27,827
102,915
4,504,460
Machinery - Diversified: 2.8%
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5,200
62,000
9,000
22,000
7,000
10,500
13,000
2,600
76,000
36,000
38,200
19,000
6,000
15,000
43,000
43,000
5,000
270,000
60,000
55,000
291,000
5,800
8,000
3,000
160,000
5,800
22,000
14,000
2,000
626,000
6,000
2,400
15,000
2,700
8,000
10,000
18,000
17,800
800
5,600
33,000
@
@, L
@
@, L
L
@
@
L
@
@
Aida Engineering Ltd.
Amada Co. Ltd.
Anest Iwata Corp.
Chugai Ro Co. Ltd.
CKD Corp.
Daifuku Co. Ltd.
Daihen Corp.
Denyo Co. Ltd.
Ebara Corp.
Enshu Ltd.
Fanuc Ltd.
Furukawa Co. Ltd.
Hisaka Works Ltd.
Hosokawa Micron Corp.
Howa Machinery Ltd.
Iseki & Co. Ltd.
Ishikawa Seisakusho Ltd.
Ishikawajima - Harima Heavy Industries Co. Ltd.
Japan Steel Works Ltd.
Juki Corp.
Kawasaki Heavy Industries Ltd.
Kimura Chemical Plants Co. Ltd.
Kinki Sharyo Co. Ltd.
Komori Corp.
Kubota Corp.
Maezawa Industries, Inc.
Makino Milling Machine Co.
Maruyama Manufacturing Co., Inc.
Max Co. Ltd.
Mitsubishi Heavy Industries Ltd.
Miura Co. Ltd.
Miyachi Corp.
Nabtesco Corp.
Nidec-Tosok Corp.
Nippon Sharyo Ltd.
Nippon Thompson Co. Ltd.
Nippon Yusoki Co. Ltd.
Nissei Plastic Industrial Co. Ltd.
Nitto Kohki Co. Ltd.
Obara Corp.
OKK Corp.
21,732
520,667
31,131
64,752
58,663
82,791
61,877
20,093
388,617
34,697
4,060,103
23,194
58,238
61,535
26,700
127,610
3,268
494,646
688,484
103,792
804,822
54,696
52,534
37,227
1,460,840
13,283
142,854
30,740
21,375
2,596,830
156,497
17,697
200,298
38,636
47,897
69,701
37,760
63,088
17,875
62,115
33,915
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Japan Equity Index Portfolio
Shares
Value
27,000
Machinery - Diversified (continued)
Okuma Corp.
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$
197,199
15,000
6,000
5,200
3,200
8,300
2,200
3,200
84,000
2,700
4,100
25,000
23,000
1,300
19,000
17,000
9,000
8,000
5,800
8,000
2,800
@
@
O-M Ltd.
Organo Corp.
Pegasus Sewing Machine Manufacturing Co. Ltd.
Rheon Automatic Machinery Co. Ltd.
Shibuya Kogyo Co. Ltd.
Shima Seiki Manufacturing Ltd.
Sintokogio Ltd.
Sumitomo Heavy Industries
Teikoku Electric Manufacturing Co. Ltd.
Torishima Pump Manufacturing Co. Ltd.
Toshiba Machine Co. Ltd.
Toyo Kanetsu K K
Toyo Machinery & Metal Co. Ltd.
Tsubakimoto Chain Co.
Tsudakoma Corp.
Tsugami Corp.
Tsurumi Manufacturing Co. Ltd.
YAMABIKO Corp.
Yuken Kogyo Co. Ltd.
Yushin Precision Equipment Co. Ltd.
61,200
40,285
14,517
8,154
65,820
49,278
26,638
506,825
57,806
82,544
106,599
46,555
3,220
91,397
30,777
58,296
56,302
71,471
14,299
42,186
14,524,638
Media: 0.3%
Amuse, Inc.
Fuji Television Network, Inc.
Gakken Holdings Co. Ltd.
Kadokawa Group Holdings, Inc.
Nippon Television Network Corp.
Shobunsha Publications, Inc.
Sky Perfect Jsat Corp.
Tokyo Broadcasting System, Inc.
TV Asahi Corp.
TV Tokyo Corp.
400
359
12,000
2,100
3,840
4,700
88
19,100
74
2,300
4,142
532,432
26,576
47,581
523,345
34,274
37,851
289,687
112,477
45,656
1,654,021
21,000
26,000
14,000
6,000
23,000
4,000
27,000
29,000
20,000
5,100
13,300
9,100
4,600
41,000
9,200
16,000
3,000
@
@
Metal Fabricate/Hardware: 0.5%
Advanex, Inc.
Araya Industrial Co. Ltd.
Daido Kogyo Co. Ltd.
Daiichi Jitsugyo Co. Ltd.
Furukawa-Sky Aluminum Corp.
Hakudo Co. Ltd.
Hanwa Co. Ltd.
JFE Shoji Holdings, Inc.
Kitz Corp.
Maezawa Kasei Industries Co. Ltd.
Maruichi Steel Tube Ltd.
MISUMI Group, Inc.
Mitsui High-Tec, Inc.
Nachi-Fujikoshi Corp.
Neturen Co. Ltd.
Nihon Spindle Manufacturing Co. Ltd.
Nippon Chutetsukan KK
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17,324
36,195
24,124
15,800
56,662
34,037
114,476
122,304
116,788
50,987
269,847
187,063
39,505
134,372
70,621
25,346
4,562
2,800
73,000
83,000
2,600
1,800
13,000
2,700
32,000
13,000
9,500
4,400
22,000
L
@
Nippon Filcon Co. Ltd./Tokyo
NSK Ltd.
NTN Corp.
Oiles Corp.
Onoken Co. Ltd.
Ryobi Ltd.
Sato Shoji Corp.
Shinsho Corp.
Sumikin Bussan Corp.
Sumitomo Pipe & Tube Co. Ltd.
Tocalo Co. Ltd.
Toho Zinc Co. Ltd.
13,702
577,400
375,466
42,305
16,220
43,882
15,547
74,061
29,777
56,336
92,041
108,172
2,764,922
12,000
43,000
222,520
117,000
33,000
12,000
58,000
9,000
25,000
63,000
99,000
4,100
@
@
@
Mining: 0.7%
Daiki Aluminium Industry Co. Ltd.
Dowa Holdings Co. Ltd.
Mitsubishi Materials Corp.
Mitsui Mining & Smelting Co. Ltd.
Mitsui Mining Co. Ltd.
Nippon Denko Co. Ltd.
Nippon Light Metal Co. Ltd.
Nittetsu Mining Co. Ltd.
Pacific Metals Co. Ltd.
Sumitomo Light Metal Industries Ltd.
Sumitomo Metal Mining Co. Ltd.
Sumitomo Titanium Corp.
33,548
259,295
640,966
350,992
49,435
89,614
84,446
39,809
208,133
68,093
1,472,921
170,355
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Japan Equity Index Portfolio
Shares
Value
Mining (continued)
Toho Titanium Co. Ltd.
7,200
$
178,732
3,646,339
12,000
13,000
12,300
38,000
4,000
84,900
2,400
1,300
10,600
9,900
6,500
3,000
15,000
@
@
Miscellaneous Manufacturing: 1.7%
ABILIT Corp.
Achilles Corp.
Amano Corp.
Arrk Corp.
Bando Chemical Industries Ltd.
Fuji Photo Film Co. Ltd.
Fujikura Rubber Ltd.
Fukushima Industries Corp.
Glory Ltd.
Japan Cash Machine Co. Ltd.
JSP Corp.
Kimoto Co. Ltd.
Kinugawa Rubber Industrial Co. Ltd.
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14,523
19,889
112,081
34,572
12,720
2,924,433
9,947
12,341
263,604
87,779
77,908
27,046
61,472
86,500
26,000
2,700
13,000
2,000
13,000
68,600
15,000
15,000
4,600
6,700
3,700
1,100
27,000
43,200
4,000
6,000
8,200
5,100
5,400
4,600
9,100
1,800
4,000
L
L
L
Konica Minolta Holdings, Inc.
Kureha Corp
LEC, Inc.
Mitsuboshi Belting Co. Ltd.
Morita Holdings Corp.
Nikkiso Co. Ltd.
Nikon Corp.
Nippon Pillar Packing Co. Ltd.
Nippon Valqua Industries Ltd.
Nitta Corp.
Noritsu Koki Co. Ltd.
Ohara, Inc.
Oizumi Corp.
Okamoto Industries, Inc.
Olympus Corp.
Sekisui Plastics Co. Ltd.
Shinagawa Refractories Co. Ltd.
Shin-Etsu Polymer Co. Ltd.
Tamron Co. Ltd.
Tenma Corp.
Tokai Rubber Industries, Inc.
Towa Corp.
Toyo Tanso Co. Ltd.
TYK Corp.
1,011,735
126,023
47,991
59,710
9,842
95,210
1,499,804
99,876
32,835
73,418
47,757
68,157
2,423
112,919
1,388,700
19,135
18,888
62,436
85,572
62,803
63,017
70,443
102,222
9,464
8,828,695
Office Furnishings: 0.0%
Inaba Seisakusho Co. Ltd.
Itoki Corp.
Komatsu Wall Industry Co. Ltd.
Okamura Corp.
Takano Co. Ltd.
3,900
1,600
3,300
14,000
1,400
39,218
4,109
35,213
89,464
8,246
176,250
Office/Business Equipment: 2.5%
Canon Finetech, Inc.
Canon, Inc.
Ricoh Co. Ltd.
Riso Kagaku Corp.
Seiko Epson Corp.
Uchida Yoko Co. Ltd.
5,700
229,600
112,000
5,600
25,100
17,000
99,734
10,620,205
1,754,194
66,746
390,566
56,601
12,988,046
8,800
81,000
3,600
203
5,200
145,500
253,000
33,900
54,000
L
I, X
I, X
Oil & Gas: 0.9%
AOC Holdings, Inc.
Cosmo Oil Co. Ltd.
Idemitsu Kosan Co. Ltd.
Inpex Holdings, Inc.
Japan Petroleum Exploration Co.
Nippon Mining Holdings, Inc.
Nippon Oil Corp.
Showa Shell Sekiyu KK
TonenGeneral Sekiyu KK
54,501
196,223
273,053
1,490,839
264,032
668,438
1,252,958
229,600
456,387
4,886,031
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Oil & Gas Services: 0.0%
Ishii Iron Works Co. Ltd.
5,000
10,001
10,001
Packaging & Containers: 0.2%
Chugokukogyo Co. Ltd.
FP Corp.
Fuji Seal International, Inc.
Fujimori Kogyo Co. Ltd.
Hokkan Holdings Ltd.
Nihon Yamamura Glass Co. Ltd.
Rengo Co. Ltd.
21,000
1,900
5,700
3,100
28,000
23,000
29,000
25,418
86,926
117,907
45,500
77,899
76,334
170,793
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Japan Equity Index Portfolio
Shares
Value
Packaging & Containers (continued)
Taisei Lamick Co. Ltd.
Toyo Seikan Kaisha Ltd.
3,000
31,600
$
73,249
559,953
1,233,979
8,500
15,000
84,600
42,300
117,300
26,800
900
47,600
6
2,000
10,300
10,000
5,000
5,700
10,000
48,000
42,300
8,700
10,000
16,000
5,000
6,100
19,300
17,000
10,800
2,600
7,200
L
L
L
Pharmaceuticals: 4.3%
Alfresa Holdings Corp.
ASKA Pharmaceutical Co. Ltd.
Astellas Pharma, Inc.
Chugai Pharmaceutical Co. Ltd.
Daiichi Sankyo Co. Ltd.
Dainippon Sumitomo Pharma Co. Ltd.
Eiken Chemical Co. Ltd.
Eisai Co. Ltd.
EPS Co. Ltd.
Fuso Pharmaceutical Industries Ltd.
Hisamitsu Pharmaceutical Co., Inc.
Kaken Pharmaceutical Co. Ltd.
Kissei Pharmaceutical Co. Ltd.
Kobayashi Pharmaceutical Co. Ltd.
Kyorin Co. Ltd.
Kyowa Hakko Kogyo Co. Ltd.
Mediceo Paltac Holdings Co. Ltd.
Miraca Holdings, Inc.
Mochida Pharmaceutical Co. Ltd.
Nippon Chemiphar Co. Ltd.
Nippon Shinyaku Co. Ltd.
Nissui Pharmaceutical Co. Ltd.
Ono Pharmaceutical Co. Ltd.
Rohto Pharmaceutical Co. Ltd.
Santen Pharmaceutical Co. Ltd.
Sawai Pharmaceutical Co. Ltd.
Seikagaku Corp.
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366,674
101,668
3,064,482
794,516
2,199,235
245,907
9,036
1,697,314
14,569
6,546
383,263
82,482
103,829
235,107
144,774
495,744
501,512
265,597
95,144
44,529
56,691
45,787
860,121
186,987
324,840
169,750
75,346
4,600
56,400
15,000
13,600
33,000
143,300
41,000
11,700
4,100
1,200
11,300
9,100
6,000
4,000
L
L
Shin Nippon Biomedical Laboratories Ltd.
Shionogi & Co. Ltd.
SSP Co. Ltd.
Suzuken Co. Ltd.
Taisho Pharmaceutical Co. Ltd.
Takeda Pharmaceutical Co. Ltd.
Tanabe Seiyaku Co. Ltd.
Toho Pharmaceutical Co. Ltd.
Torii Pharmaceutical Co. Ltd.
Towa Pharmaceutical Co. Ltd.
Tsumura & Co.
VITAL KSK HOLDINGS, Inc.
Wakamoto Pharmaceutical Co. Ltd.
ZERIA Pharmaceutical Co. Ltd.
28,150
1,073,479
113,651
480,079
599,712
6,310,063
579,358
153,388
80,469
61,070
328,203
59,404
20,988
42,600
22,502,064
17,600
8,300
17,000
47,000
16,900
10,900
12,000
2,970
16,000
98
11,100
2,000
10,800
116
45,000
23,600
2,700
257,000
163,000
3,100
6,700
16,400
240
8,400
8,700
2,110
89,000
115
1,016
100
3,800
@
@
@
@
@
L
L
@
@
Real Estate: 2.3%
Aeon Mall Co. Ltd.
Arnest One Corp.
Daibiru Corp.
Daikyo, Inc.
Daito Trust Construction Co. Ltd.
Daiwasystem Co. Ltd.
Econach Co. Ltd.
Goldcrest Co. Ltd.
Heiwa Real Estate Co. Ltd.
Hoosiers Corp.
Hulic Co. Ltd.
Iida Home Max
Keihanshin Real Estate Co. Ltd.
Land Business Co. Ltd.
LAND Co. Ltd.
Leopalace21 Corp.
Meiwa Estate Co. Ltd.
Mitsubishi Estate Co. Ltd.
Mitsui Fudosan Co. Ltd.
Nihon Eslead Corp.
Nisshin Fudosan Co
Nomura Real Estate Holdings, Inc.
NTT Urban Development Corp.
Sankei Building Co. Ltd.
Shoei Co. Ltd./Chiyoda-ku
Sumitomo Real Estate Sales
Sumitomo Realty & Development Co. Ltd.
Sun Frontier Fudousan Co. Ltd.
Suncity Co. Ltd.
Tact Home Co. Ltd.
Takara Leben Co. Ltd.
371,737
76,532
143,508
91,729
817,164
21,479
5,782
78,739
48,148
17,409
81,825
32,879
51,442
22,360
19,266
122,818
15,610
4,211,949
2,774,398
26,845
37,153
253,307
203,195
52,375
65,984
91,754
1,698,286
14,813
22,285
76,913
17,055
PORTFOLIO OF INVESTMENTS
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ING Japan Equity Index Portfolio
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
19,900
11,000
57,000
5,000
900
67,000
4,600
2,200
4,239
L
@
Real Estate (continued)
TOC Co. Ltd.
Tokyo Rakutenchi Co. Ltd.
Tokyo Tatemono Co. Ltd.
Tokyo Tatemono Real Estate Sales Co. Ltd.
Tokyu Community Corp.
Tokyu Land Corp.
Tokyu Livable, Inc.
Touei Housing Corp.
Zecs Co. Ltd.
$
75,432
42,826
205,422
15,148
21,087
256,459
41,951
20,660
45,069
12,288,793
4,400
129,400
3,200
8,600
4,100
21
1,800
4,900
4,500
2,100
3,000
1,700
4,300
4,500
87
49
2,800
9,000
2,600
6,500
4,900
51,500
3,120
15,000
1,900
3,100
16,300
24,300
4,100
3,200
5,000
5,500
6,100
19,500
12,300
@
L
@, L
L
L
Retail: 3.7%
ABC-Mart, Inc.
Aeon Co. Ltd.
Aeon Hokkaido Corp.
Aigan Co. Ltd.
Alpen Co. Ltd.
Amiyaki Tei Co. Ltd.
AOKI Holdings, Inc.
Aoyama Trading Co. Ltd.
Arc Land Sakamoto Co. Ltd.
Arcs Co. Ltd.
Asahi Co. Ltd.
ASKUL Corp.
Autobacs Seven Co. Ltd.
Best Denki Co. Ltd.
BIC Camera, Inc.
Can Do Co. Ltd.
Cawachi Ltd.
CFS Corp.
CHI Group Co., Ltd.
Chiyoda Co. Ltd.
Circle K Sunkus Co. Ltd.
Citizen Watch Co. Ltd.
Cocokara Fine Holdings, Inc.
Colowide Co. Ltd.
Cosmos Pharmaceutical Corp.
Create SD Holdings
Culture Convenience Club Co. Ltd.
Daiei, Inc.
Daisyo Corp.
Daiyu Eight Co. Ltd.
DCM Japan Holdings Co. Ltd.
Don Quijote Co. Ltd.
Doutor Nichires Holdings Co. Ltd.
EDION Corp.
FamilyMart Co. Ltd.
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140,636
1,470,541
9,210
44,938
65,557
60,281
24,139
80,937
48,404
28,339
49,565
32,304
137,391
11,031
30,129
49,812
53,697
54,349
9,956
80,306
60,786
352,826
55,275
74,640
40,988
58,125
79,357
104,263
50,235
20,157
28,697
137,408
80,860
200,636
391,653
7,800
2,900
4,000
1,000
26
12,000
6,000
680
9,000
6,200
5,200
3,000
4,000
8,360
2,300
16,900
63,000
10,600
15,000
9,000
88,000
11,000
3,250
12,300
9,900
800
3,900
5,700
12,000
4,800
4,200
7,560
@
@
L
@
L
L
L
Fast Retailing Co. Ltd.
Felissimo Corp.
Fuji Co. Ltd.
Genki Sushi Co. Ltd.
Geo Co. Ltd.
Goldwin, Inc.
Gourmet Kineya Co. Ltd.
Gulliver International Co.
H2O Retailing Corp.
Hard Off Corp. Co. Ltd.
Haruyama Trading Co. Ltd.
Heiwado Co. Ltd.
Hiday Hidaka Corp.
Honeys Co. Ltd.
Ichibanya Co. Ltd.
Image Holdings Co. Ltd.
Isetan Mitsukoshi Holdings Ltd.
Izumi Co. Ltd.
Izumiya Co. Ltd.
Izutsuya Co. Ltd.
J Front Retailing Co. Ltd.
Joshin Denki Co. Ltd.
Kappa Create Co. Ltd.
Kasumi Co. Ltd.
Keiyo Co. Ltd.
Kirindo Co. Ltd.
Kisoji Co. Ltd.
Kohnan Shoji Co. Ltd.
Kojima Co. Ltd.
Komeri Co. Ltd.
Kourakuen Corp.
K’S Holdings Corp.
1,356,652
39,924
77,456
12,541
25,714
24,490
33,716
23,957
61,580
28,536
24,001
38,541
43,439
71,746
56,106
47,515
677,747
139,040
65,767
4,529
518,672
99,345
64,483
59,759
48,741
3,449
79,877
65,084
107,465
125,141
54,647
185,611
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Japan Equity Index Portfolio
Shares
Value
18
2,500
10,500
3,700
1,200
6,000
37,400
5,100
2,500
5,800
L
Retail (continued)
Kura Corp.
Kuraudia Co. Ltd.
Lawson, Inc.
Life Corp.
Marche Corp.
Maruetsu, Inc.
Marui Co. Ltd.
Matsumotokiyoshi Holdings Co. Ltd.
Matsuya Co. Ltd.
Matsuya Foods Co. Ltd.
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$
64,528
33,972
448,409
64,001
9,013
24,850
271,309
115,399
23,520
84,881
1,700
2,200
5,200
12,800
1,170
9,300
16,400
7,100
5,000
5,000
2,350
10,300
7,400
3,520
5,800
7,800
4,500
4,200
4,100
7,000
19,000
6,300
2,000
2,400
13,000
17,000
9,300
152,800
8,700
4,100
1,100
500
4,900
6,000
7,800
50,000
9,000
400
4,000
9,000
2,000
2,300
32,400
4,950
2,700
1,400
4,400
4,100
17,250
9,600
1,100
@
@
@
@
L
Megane TOP Co. Ltd.
Ministop Co. Ltd.
MOS Food Services, Inc.
Mr Max Corp.
Nihon Chouzai Co. Ltd.
Nishimatsuya Chain Co. Ltd.
Nissen Holdings Co. Ltd.
Nitori Co. Ltd.
Okuwa Co. Ltd.
Olympic Corp.
Pal Co. Ltd.
Parco Co. Ltd.
Paris Miki Holdings, Inc.
Point, Inc.
Poplar Co. Ltd.
Right On Co. Ltd.
Ringer Hut Co. Ltd.
Royal Holdings Co. Ltd.
Ryohin Keikaku Co. Ltd.
Sagami Chain Co. Ltd.
Sagami Co. Ltd.
Saizeriya Co. Ltd.
San-A Co. Ltd.
Sanei-International Co. Ltd.
Scroll Corp.
Seiko Holdings Corp.
Senshukai Co. Ltd.
Seven & I Holdings Co. Ltd.
Shimachu Co. Ltd.
Shimamura Co. Ltd.
Sogo Medical Co. Ltd.
St. Marc Holdings Co. Ltd.
Studio Alice Co. Ltd.
Sugi Pharmacy Co. Ltd.
Sundrug Co. Ltd.
Takashimaya Co. Ltd.
Tasaki Shinju Co. Ltd.
Taya Co. Ltd.
Tobu Store Co. Ltd.
Tonichi Carlife Group, Inc.
Totenko Co. Ltd.
Tsuruha Holdings, Inc.
UNY Co. Ltd.
USS Co. Ltd.
Valor Co. Ltd.
Warehouse Co. Ltd.
WATAMI Co. Ltd.
Xebio Co. Ltd.
Yamada Denki Co. Ltd.
Yamato International, Inc.
Yamaya Corp.
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11,242
25,558
85,164
56,755
34,867
96,741
63,540
539,089
50,390
34,350
47,188
86,882
71,232
211,104
33,513
59,337
48,189
41,799
173,164
38,658
28,058
113,681
75,247
32,612
48,418
44,803
50,166
3,696,398
185,931
363,488
24,190
16,962
43,695
143,553
185,501
411,071
9,728
2,969
11,551
10,309
3,127
82,466
268,387
336,723
22,050
5,186
80,504
82,875
1,274,723
35,947
9,289
2,000
62
5,900
Yellow Hat Ltd.
Yoshinoya D&C Co. Ltd.
Zensho Co. Ltd.
13,743
66,090
44,129
19,254,913
38,100
5,300
4,400
9,200
11,000
14,600
18,800
27,000
10,000
2,300
10,200
22,100
@
@
@
Semiconductors: 1.0%
Elpida Memory, Inc.
Megachips Corp.
Mimasu Semiconductor Industry Co. Ltd.
NEC Electronics Corp.
New Japan Radio Co. Ltd.
Nihon Inter Electronics Corp.
Rohm Co. Ltd.
Sanken Electric Co. Ltd.
Shindengen Electric Manufacturing Co. Ltd.
Shinkawa Ltd.
Shinko Electric Industries
Sumco Corp.
751,879
79,493
65,795
93,460
41,782
39,063
1,406,699
103,332
37,274
35,379
158,361
471,183
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Japan Equity Index Portfolio
Shares
Value
Semiconductors (continued)
Tokyo Electron Ltd.
Y.A.C. Co. Ltd.
31,000
3,000
$
2,060,166
24,092
5,367,958
152,000
38,000
L
Shipbuilding: 0.1%
Mitsui Engineering & Shipbuilding Co. Ltd.
Sasebo Heavy Industries Co. Ltd.
379,390
79,757
459,147
3,000
700
8,800
2,200
6,100
6,200
121
900
200
1,000
12,400
8,700
15,300
2,000
5,000
900
17,800
Software: 0.4%
Alpha Systems, Inc.
Argo Graphics, Inc.
Capcom Co. Ltd.
Computer Engineering & Consulting Ltd.
Computer Institute of Japan Ltd.
Cresco Ltd.
Cybernet Systems Co. Ltd.
Fuji Soft, Inc.
Fukui Computer, Inc.
Hitachi Business Solution Co. Ltd.
IT Holdings Corp.
Jastec Co. Ltd.
Konami Corp.
NEC Fielding Ltd.
Nihon Unisys Ltd.
Nippon Systemware Co. Ltd.
Nomura Research Institute Ltd.
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53,836
7,760
166,467
11,595
19,720
30,279
47,867
15,066
671
7,146
151,167
51,036
295,275
48,062
33,575
3,149
405,756
3,700
1,550
6,000
4,100
69
116
7,700
4,900
54
500
8,200
700
4,700
6,100
@
@
@
NSD CO. Ltd.
OBIC Business Consultants Ltd.
Oracle Corp. Japan
Pixela Corp.
Simplex Technology, Inc.
Sourcenext Corp.
Square Enix Co. Ltd.
Sumisho Computer Systems Corp.
SystemPro Co. Ltd.
TDC Software Engineering, Inc.
TECMO KOEI HOLDINGS CO Ltd.
Tose Co. Ltd.
Trans Cosmos, Inc.
Zenrin Co. Ltd.
44,494
75,828
278,489
14,846
35,736
42,767
168,595
71,162
39,456
4,058
58,659
4,904
38,856
73,147
2,299,424
27,000
5,000
25,000
29,000
4,000
8,000
25,000
7,300
L
Storage/Warehousing: 0.1%
Mitsubishi Logistics Corp.
Mitsui-Soko Co. Ltd.
Shibusawa Warehouse Co. Ltd.
Sumitomo Warehouse Co. Ltd.
Toyo Logistics Co. Ltd.
Toyo Wharf & Warehouse Co. Ltd.
Yamatane Corp.
Yasuda Warehouse Co. Ltd.
335,966
18,739
85,464
128,913
8,562
13,613
34,515
44,309
670,081
3,600
4,000
4,600
10,000
1,320
36,000
5,000
605
5,500
154,400
3,252
148,000
8,000
3,000
159,500
16
16,000
@
@
L
@
@
Telecommunications: 3.7%
Aiphone Co. Ltd.
Denki Kogyo Co. Ltd.
Hikari Tsushin, Inc.
Hitachi Kokusai Electric, Inc.
Invoice, Inc.
Iwatsu Electric Co. Ltd.
Japan Radio Co. Ltd.
KDDI Corp.
Maspro Denkoh Corp.
Nippon Telegraph & Telephone Corp.
NTT DoCoMo, Inc.
Oki Electric Industry Ltd.
Saxa Holdings, Inc.
Seibu Electric Industry Co. Ltd.
Softbank Corp.
Telepark Corp.
Uniden Corp.
62,957
20,808
74,808
100,068
20,474
31,197
10,974
3,131,974
51,763
6,496,773
4,949,451
123,617
14,037
11,746
3,935,831
23,686
46,431
19,106,595
43,000
17,000
19,000
14,000
16,000
20,000
@
@
Textiles: 0.8%
Daito Woolen Spinning & Weaving Co. Ltd.
Dynic Corp.
Fujibo Holdings, Inc.
Ichikawa Co. Ltd.
Kawashima Selkon Textiles Co. Ltd.
Komatsu Seiren Co. Ltd.
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39,634
32,713
30,668
26,237
13,196
78,974
19,000
54,500
Kurabo Industries Ltd.
Kuraray Co. Ltd.
32,293
734,401
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Japan Equity Index Portfolio
Shares
Value
36,000
2,300
27,000
39,000
27,000
41,000
1,600
36,000
153,000
10,000
63,000
245,000
119,000
98,000
L
@
Textiles (continued)
Mitsubishi Rayon Co. Ltd.
Nippon Felt Co. Ltd.
Nisshinbo Industries, Inc.
Nitto Boseki Co. Ltd.
Nitto Seimo Co. Ltd.
Sakai Ovex Co. Ltd.
Seiren Co. Ltd.
Suminoe Textile Co. Ltd.
Teijin Ltd.
Teikoku Sen-I Co. Ltd.
Toabo Corp.
Toray Industries, Inc.
Toyobo Co. Ltd.
Unitika Ltd.
$
152,138
10,335
279,958
83,105
32,682
42,571
9,940
75,927
514,300
49,630
49,214
1,433,131
189,667
79,683
3,990,397
37,500
20,900
8,000
8,800
L
Toys/Games/Hobbies: 1.4%
Namco Bandai Holdings, Inc.
Nintendo Co. Ltd.
Sanrio Co. Ltd.
Tomy Co. Ltd.
365,728
7,009,099
76,108
68,611
7,519,546
3,000
316
23,000
68,700
21,000
34,000
400
250,000
7,100
18,500
5,300
3,000
17,000
7,000
93,000
81,000
100,000
101,000
@
L
Transportation: 4.4%
Art Corp.
Central Japan Railway Co.
Daiichi Chuo KK
East Japan Railway Co.
Fuji Kyuko Co. Ltd.
Fukuyama Transporting Co. Ltd.
Hamakyorex Co. Ltd.
Hankyu Hanshin Holdings, Inc.
Hitachi Transport System Ltd.
Iino Kaiun Kaisha Ltd.
Inui Steamship Co. Ltd.
Japan Oil Transportation Co. Ltd.
Japan Transcity Corp.
Kanagawa Chuo Kotsu Co. Ltd.
Kawasaki Kisen Kaisha Ltd.
Keihan Electric Railway Co. Ltd.
Keihin Electric Express Railway Co. Ltd.
Keio Corp.
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46,589
2,408,823
72,696
4,779,951
102,226
169,967
10,469
1,159,493
100,141
123,476
40,106
6,548
51,357
37,521
371,521
336,441
821,794
682,424
56,000
600
334,000
3,600
2,500
15,000
3,700
28,000
5,800
4,000
180,000
126,000
75,000
157,000
11,000
270,880
49,000
116,000
1,900
44,000
20,000
19,000
11,000
24,000
53,000
156,000
203,000
17,000
317
74,800
3,100
L
L
L
L
L
Keisei Electric Railway Co. Ltd.
Kimura Unity Co. Ltd.
Kintetsu Corp.
Kintetsu World Express, Inc.
KRS Corp.
Kyoei Tanker Co. Ltd.
Maruwn Corp.
Maruzen Showa Unyu Co. Ltd.
Meiji Shipping Co. Ltd.
Meito Transportation Co. Ltd.
Mitsui OSK Lines Ltd.
Nagoya Railroad Co. Ltd.
Nankai Electric Railway Co. Ltd.
Nippon Express Co. Ltd.
Nippon Konpo Unyu Soko Co. Ltd.
Nippon Yusen KK
Nishi-Nippon Railroad Co. Ltd.
Odakyu Electric Railway Co. Ltd.
Sakai Moving Service Co. Ltd.
Sankyu, Inc.
Seino Holdings Co. Ltd.
Senko Co. Ltd.
Shin-Keisei Electric Railway Co. Ltd.
Shinwa Kaiun Kaisha Ltd.
Sotetsu Holdings, Inc.
Tobu Railway Co. Ltd.
Tokyu Corp.
Tonami Holdings Co. Ltd.
West Japan Railway Co.
Yamato Holdings Co. Ltd.
Yusen Air & Sea Service Co. Ltd.
341,205
5,059
1,040,151
93,085
23,726
35,678
9,629
102,547
30,105
34,401
1,294,391
361,399
297,933
676,186
124,611
1,071,331
189,308
966,046
40,422
217,159
142,628
69,821
44,129
75,583
224,008
866,501
849,842
36,222
1,092,196
1,052,759
46,773
22,776,377
5,800
100,000
Venture Capital: 0.0%
Jafco Co. Ltd.
Japan Asia Investment Co. Ltd.
152,607
54,624
207,231
Total Common Stock
(Cost $479,002,314)
515,701,939
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Japan Equity Index Portfolio
Shares
Value
RIGHTS: 0.0%
3,800
Real Estate: 0.0%
Takara Leben Co. Ltd.
Total Rights
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$
5,074
5,074
(Cost $3,038)
Total Long-Term Investments
(Cost $479,005,352)
515,707,013
SHORT-TERM INVESTMENTS: 19.0%
99,286,436
@
I
cc
(1)
S
L
X
*
Securities Lending Collateral(cc): 19.0%
Bank of New York Mellon Corp. Institutional Cash Reserves, Series A (1)
99,286,436
Total Short-Term Investments
(Cost $99,286,436)
99,286,436
Total Investments in Securities
(Cost $578,291,788)*
Other Assets and Liabilities - Net
117.4%
(17.4)
$
614,993,449
(91,185,812)
Net Assets
100.0%
$
523,807,637
$
47,839,875
(12,315,187)
$
35,524,688
Non-income producing security
Illiquid Security
Securities purchased with cash collateral for securities loaned.
Collateral received from brokers for securites lending was invested in these
short-term investments.
All or a portion of this security has been identified by the Fund to cover
future collateral requirements for applicable futures, options, swaps, foreign
currency contracts and/or when-issued or delayed-delivery securities.
Loaned security, a portion or all of the security is on loan at March 31, 2010.
Fair value determined by ING Funds Valuation Committee appointed by the
Funds’ Board of Directors/Trustees.
Cost for federal income tax purposes is $579,468,761.
Net unrealized appreciation consists of:
Gross Unrealized Appreciation
Gross Unrealized Depreciation
Net Unrealized Appreciation
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Japan Equity Index Portfolio
Fair Value Measurements
The following is a summary of the fair valuations according to the inputs used as of March 31, 2010 in valuing the Portfolio’s assets and
liabilities:
Quoted Prices
Significant Other
Significant
in Active Markets
Observable
Unobservable
Fair Value
for Identical Investments
Inputs#
Inputs
at
(Level 1)
(Level 2)
(Level 3)
3/31/2010
Asset Table
Investments, at value
Common Stock
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Advertising
Agriculture
Airlines
Apparel
Auto Manufacturers
Auto Parts & Equipment
Banks
Beverages
Building Materials
Chemicals
Coal
Commercial Services
Computers
Cosmetics/Personal Care
Distribution/Wholesale
Diversified Financial Services
Electric
Electrical Components & Equipment
Electronics
Engineering & Construction
Entertainment
Environmental Control
Food
Food Service
Forest Products & Paper
Gas
Hand/Machine Tools
Healthcare - Products
Healthcare - Services
Holding Companies - Diversified
Home Builders
Home Furnishings
Household Products/Wares
Housewares
Insurance
Internet
Iron/Steel
Leisure Time
Lodging
Machinery - Construction & Mining
Machinery - Diversified
Media
Metal Fabricate/Hardware
Mining
Miscellaneous Manufacturing
Office Furnishings
Office/Business Equipment
Oil & Gas
Oil & Gas Services
Packaging & Containers
Pharmaceuticals
$
—
—
—
—
—
2,033,134
—
—
—
—
—
—
—
—
6,401
23,150
—
—
317,183
—
—
—
383,995
—
—
—
—
—
—
—
—
69,109
—
—
—
29,672
—
—
—
—
14,517
—
—
—
—
—
—
229,600
—
—
—
$
1,551,146
3,701,175
1,497,723
1,484,505
40,880,431
12,371,164
49,497,965
5,622,148
8,571,204
19,156,973
80,141
7,660,190
5,705,639
5,694,610
23,770,058
12,238,300
21,330,545
10,276,609
28,233,590
6,436,549
2,109,921
1,054,465
8,001,493
63,874
2,180,188
4,179,953
4,108,495
2,720,143
125,986
29,150
3,249,434
16,249,279
371,276
212,114
11,255,734
3,256,722
13,216,069
2,822,920
211,506
4,504,460
14,510,121
1,654,021
2,764,922
3,646,339
8,828,695
176,250
12,988,046
4,656,431
10,001
1,233,979
22,502,064
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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$
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
$
1,551,146
3,701,175
1,497,723
1,484,505
40,880,431
14,404,298
49,497,965
5,622,148
8,571,204
19,156,973
80,141
7,660,190
5,705,639
5,694,610
23,776,459
12,261,450
21,330,545
10,276,609
28,550,773
6,436,549
2,109,921
1,054,465
8,385,488
63,874
2,180,188
4,179,953
4,108,495
2,720,143
125,986
29,150
3,249,434
16,318,388
371,276
212,114
11,255,734
3,286,394
13,216,069
2,822,920
211,506
4,504,460
14,524,638
1,654,021
2,764,922
3,646,339
8,828,695
176,250
12,988,046
4,886,031
10,001
1,233,979
22,502,064
Real Estate
Retail
Semiconductors
Shipbuilding
Software
Storage/Warehousing
Telecommunications
Textiles
Toys/Games/Hobbies
Transportation
Venture Capital
—
850,018
—
—
—
—
—
—
—
—
—
12,288,793
18,404,895
5,367,958
459,147
2,299,424
670,081
19,106,595
3,990,397
7,519,546
22,776,377
207,231
—
—
—
—
—
—
—
—
—
—
—
12,288,793
19,254,913
5,367,958
459,147
2,299,424
670,081
19,106,595
3,990,397
7,519,546
22,776,377
207,231
Total Common Stock
Rights
Short-Term Investments
3,956,779
511,745,160
—
515,701,939
5,074
99,286,436
—
—
—
—
5,074
99,286,436
Total Investments, at value
Other Financial
Futures
$
103,248,289
$
511,745,160
$
—
$
614,993,449
Instruments+:
Total Assets
432,031
$
103,680,320
—
$
511,745,160
432,031
—
$
—
$
615,425,480
Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency
contracts, futures, swaps, and written options.
Forward foreign currency contracts and futures are reported at their unrealized gain/loss at measurement date which represents the amount due
to/from the Portfolio. Swaps and written options are reported at their market value at measurement date.
+
# The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have
occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of
its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a
significant portion of the Portfolio’s investments are categorized as Level 2 investments.
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Japan Equity Index Portfolio
ING Japan Equity Index Portfolio Open Futures Contracts on March 31, 2010:
Unrealized
Number of
Contract Description
Long Contracts
Tokyo Price Index (TOPIX)
Appreciation/
Contracts
Expiration Date
72
06/10/10
Market Value
(Depreciation)
$
7,528,078
$
432,031
$
7,528,078
$
432,031
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited)
ING Opportunistic LargeCap Portfolio
Shares
Value
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COMMON STOCK: 98.2%
Aerospace/Defense: 4.1%
Lockheed Martin Corp.
Raytheon Co.
United Technologies Corp.
14,800
32,900
47,800
$
1,231,656
1,879,248
3,518,558
6,629,462
Agriculture: 1.8%
Reynolds American, Inc.
53,000
2,860,940
2,860,940
Apparel: 1.0%
Coach, Inc.
42,300
1,671,696
1,671,696
Banks: 7.1%
Capital One Financial Corp.
Goldman Sachs Group, Inc.
JPMorgan Chase & Co.
PNC Financial Services Group, Inc.
Wells Fargo & Co.
66,700
9,700
62,600
28,600
80,100
2,762,047
1,655,111
2,801,350
1,707,420
2,492,712
11,418,640
Beverages: 1.2%
Molson Coors Brewing Co.
45,200
1,901,112
1,901,112
55,600
@
Biotechnology: 2.0%
Amgen, Inc.
3,322,656
3,322,656
Chemicals: 1.6%
EI Du Pont de Nemours & Co.
68,100
2,536,044
2,536,044
126,000
207,100
42,400
75,600
@
@
@
Computers: 8.7%
Dell, Inc.
EMC Corp.
International Business Machines Corp.
Western Digital Corp.
1,891,260
3,736,084
5,437,800
2,947,644
14,012,788
Diversified Financial Services: 5.0%
American Express Co.
Blackrock, Inc.
CME Group, Inc.
69,500
11,900
8,200
2,867,570
2,591,344
2,592,102
8,051,016
Electric: 3.7%
Constellation Energy Group, Inc.
DTE Energy Co.
77,100
72,200
2,706,981
3,220,120
5,927,101
Electrical Components & Equipment: 1.5%
Emerson Electric Co.
49,100
2,471,694
2,471,694
26,700
L
Electronics: 0.6%
Garmin Ltd.
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1,027,416
1,027,416
29,500
@
Engineering & Construction: 0.8%
Jacobs Engineering Group, Inc.
1,333,105
1,333,105
Food: 5.2%
ConAgra Foods, Inc.
Sara Lee Corp.
Unilever NV ADR
112,400
206,400
90,700
2,817,868
2,875,152
2,735,512
8,428,532
49,000
90,600
Forest Products & Paper: 2.2%
International Paper Co.
MeadWestvaco Corp.
31,800
Healthcare - Products: 1.0%
Covidien PLC
1,205,890
2,314,830
3,520,720
1,598,904
1,598,904
Healthcare - Services: 1.9%
UnitedHealth Group, Inc.
94,100
3,074,247
3,074,247
Household Products/Wares: 0.8%
Kimberly-Clark Corp.
20,700
1,301,616
1,301,616
Insurance: 3.5%
Travelers Cos., Inc.
UnumProvident Corp.
55,300
106,600
2,982,882
2,640,482
5,623,364
Media: 2.5%
Comcast Corp. — Class A
214,900
4,044,418
4,044,418
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Opportunistic LargeCap Portfolio
Shares
Value
66,000
43,600
@
Miscellaneous Manufacturing: 3.4%
Cooper Industries PLC
ITT Corp.
$
3,164,040
2,337,396
5,501,436
Office/Business Equipment: 1.1%
Pitney Bowes, Inc.
70,400
1,721,280
1,721,280
35,700
70,300
73,400
33,700
@
@
Oil & Gas: 6.0%
ExxonMobil Corp.
Nabors Industries Ltd.
Noble Corp.
Transocean Ltd.
2,391,186
1,379,989
3,069,588
2,911,006
9,751,769
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Oil & Gas Services: 1.8%
National Oilwell Varco, Inc.
71,900
2,917,702
2,917,702
54,500
@
Packaging & Containers: 0.9%
Crown Holdings, Inc.
1,469,320
1,469,320
92,300
75,900
105,100
48,700
@
@
Pharmaceuticals: 6.6%
AmerisourceBergen Corp.
Cardinal Health, Inc.
Forest Laboratories, Inc.
Watson Pharmaceuticals, Inc.
2,669,316
2,734,677
3,295,936
2,034,199
10,734,128
Retail: 6.5%
Best Buy Co., Inc.
Gap, Inc.
Ross Stores, Inc.
Target Corp.
55,800
120,600
40,900
61,300
2,373,732
2,787,066
2,186,923
3,224,380
10,572,101
Savings & Loans: 1.6%
Hudson City Bancorp., Inc.
177,700
2,516,232
2,516,232
159,000
@
Semiconductors: 2.0%
Marvell Technology Group Ltd.
3,240,420
3,240,420
114,100
35,600
162,500
136,700
@
Software: 7.5%
CA, Inc.
Intuit, Inc.
Microsoft Corp.
Oracle Corp.
@
Telecommunications: 4.6%
Amdocs Ltd.
AT&T, Inc.
2,677,927
1,222,504
4,756,375
3,511,823
12,168,629
81,800
192,400
2,462,998
4,971,616
7,434,614
Total Common Stock
(Cost $142,570,953)
158,783,102
EXCHANGE-TRADED FUNDS: 0.8%
10,800
Exchange-Traded Funds: 0.8%
SPDR Trust Series 1
1,263,492
Total Exchange-Traded Funds
(Cost $1,102,099)
1,263,492
Total Long-Term Investments
(Cost $143,673,052)
160,046,594
SHORT-TERM INVESTMENTS: 1.0%
259,000
Affiliated Mutual Fund: 0.2%
ING Institutional Prime Money Market Fund - Class I
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259,000
Total Mutual Fund
(Cost $259,000)
1,030,405
400,919
I
259,000
Securities Lending Collateral(cc): 0.8%
Bank of New York Mellon Corp. Institutional Cash Reserves, Series A (1)
Bank of New York Mellon Corp. Institutional Cash Reserves, Series B (1)(2)
1,030,405
320,735
Total Securities Lending Collateral
(Cost $1,431,324)
1,351,140
Total Short-Term Investments
(Cost $1,690,324)
1,610,140
Total Investments in Securities
(Cost $145,363,376)*
Other Assets and Liabilities - Net
100.0%
0.0
$
161,656,734
32,910
Net Assets
100.0%
$
161,689,644
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Opportunistic LargeCap Portfolio
@
I
ADR
cc
(1)
(2)
L
*
Non-income producing security
Illiquid Security
American Depositary Receipt
Securities purchased with cash collateral for securities loaned.
Collateral received from brokers for securites lending was invested in these
short-term investments.
On September 12, 2008, BNY established a separate sleeve of the
Institutional Cash Reserves Fund (Series B) to hold certain Lehman Brothers
defaulted debt obligations. The Fund’s position in Series B is being fair
valued daily.
Loaned security, a portion or all of the security is on loan at March 31, 2010.
Cost for federal income tax purposes is $145,570,516.
Net unrealized appreciation consists of:
Gross Unrealized Appreciation
Gross Unrealized Depreciation
Net Unrealized Appreciation
$
17,449,980
(1,363,762)
$
16,086,218
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Opportunistic LargeCap Portfolio
Fair Value Measurements
The following is a summary of the fair valuations according to the inputs used as of March 31, 2010 in valuing the Portfolio’s assets and
liabilities:
Quoted Prices
Significant Other
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
Significant
in Active Markets
Observable
Unobservable
Fair Value
for Identical Investments
Inputs
Inputs
at
(Level 1)
(Level 2)
(Level 3)
3/31/2010
Asset Table
Investments, at value
Common Stock*
Exchange-Traded Funds
Short-Term Investments
$
158,783,102
1,263,492
1,289,405
$
—
—
—
$
—
—
320,735
$
158,783,102
1,263,492
1,610,140
Total Investments, at value
$
161,335,999
$
—
$
320,735
$
161,656,734
The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio’s assets and liabilities
during the period ended March 31, 2010:
Beginning
Accrued
Total
Total Unrealized
Transfers
Transfers
Ending
Balance
Discounts/
Realized
Appreciation/
Into
Out of
Balance
(Premiums)
Gain/(Loss)
(Depreciation)
Level 3
Level 3
3/31/2010
12/31/2009
Purchases
Sales
Asset Table
Investments, at value
Short-Term Investments
$
320,735 $
— $
— $
— $
— $
— $
— $
— $
320,735
Total Investments, at value
$
320,735 $
— $
— $
— $
— $
— $
— $
— $
320,735
As of March 31, 2010, total change in unrealized gain (loss) on Level 3 securities still held at period end and included in the change in net
assets was $0.
Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any security or
derivative instrument where a change in the pricing level occurred from the beginning to the end of the period.
* For further breakdown of Common Stock by Industry type, please refer to the Portfolio of Investments.
ING
RussellTM
Global Large Cap Index 75% Portfolio
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited)
Shares
Value
COMMON STOCK: 74.0%
1,642
5,324
6,749
2,611
2,623
747
5,273
7,267
1,505
3,180
3,106
3,158
@
Australia: 2.6%
AGL Energy Ltd.
Amcor Ltd.
AMP Ltd.
Aquarius Platinum Ltd.
Asciano Group
ASX Ltd.
Australia & New Zealand Banking Group Ltd.
BHP Billiton Ltd.
Billabong International Ltd.
Boral Ltd.
Brambles Ltd.
Commonwealth Bank of Australia
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$
22,626
31,200
38,725
16,537
4,551
23,237
122,557
291,492
15,560
16,348
20,952
162,868
1,821
1,293
4,745
6,859
4,484
4,811
705
557
3,867
1,007
4,608
1,202
2,288
11,857
2,327
4,545
2,649
832
2,107
772
1,135
5,433
2,898
9,854
3,994
110
1,783
6,435
807
3,052
758
@
@
@
Crown Ltd.
CSL Ltd.
Fortescue Metals Group Ltd.
Foster’s Group Ltd.
Incitec Pivot Ltd.
Insurance Australia Group
Leighton Holdings Ltd.
Macquarie Group Ltd.
National Australia Bank Ltd.
Newcrest Mining Ltd.
OneSteel Ltd.
Orica Ltd.
Origin Energy Ltd.
Oxiana Ltd.
Paladin Resources Ltd.
Qantas Airways Ltd.
QBE Insurance Group Ltd.
Rio Tinto Ltd.
Santos Ltd.
Sims Group Ltd.
Sonic Healthcare Ltd.
Suncorp-Metway Ltd.
TABCORP Holdings Ltd.
Telstra Corp. Ltd.
Toll Holdings Ltd.
Transurban Group
Wesfarmers Ltd.
Westpac Banking Corp.
Woodside Petroleum Ltd.
Woolworths Ltd.
WorleyParsons Ltd.
13,653
43,188
21,305
33,252
14,245
17,110
25,181
24,088
97,569
30,361
16,478
29,503
34,729
12,470
8,429
11,822
50,569
59,768
28,359
15,213
14,960
42,520
18,326
27,019
27,160
509
51,954
164,170
34,729
78,393
17,690
1,831,375
Austria: 0.2%
Andritz AG
Erste Bank der Oesterreichischen Sparkassen AG
Evn AG
OMV AG
Raiffeisen International Bank Holding AG
470
992
702
777
255
27,747
41,559
12,174
29,132
12,114
122,726
200
1,050
@
Barbados: 0.1%
Everest Re Group Ltd.
Nabors Industries Ltd.
16,186
20,612
36,798
1,314
778
414
1,259
4,941
521
402
@
@
@
Belgium: 0.3%
Anheuser-Busch InBev NV
Belgacom S.A.
Delhaize Group
Dexia S.A.
Fortis
KBC Groep NV
UCB S.A.
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66,091
30,387
33,228
7,484
17,493
25,094
17,151
682
23,790
Umicore
220,718
200
200
300
1,000
@
@
@
Bermuda: 0.3%
Arch Capital Group Ltd.
Central European Media Enterprises Ltd.
Lazard Ltd.
Marvell Technology Group Ltd.
ING RussellTM Global Large Cap Index 75% Portfolio
15,250
5,862
10,710
20,380
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
200
200
1,000
1,350
1,100
Bermuda (continued)
PartnerRe Ltd.
RenaissanceRe Holdings Ltd.
SeaDrill Ltd. ADR
Tyco Electronics Ltd.
Tyco International Ltd.
$
15,944
11,352
23,402
37,098
42,075
182,073
2,255
2,640
2,600
3,200
5,200
1,000
200
1,612
2,200
2,400
3,150
900
2,050
5,961
1,350
600
4,500
6,720
950
Brazil: 1.3%
Banco Bradesco S.A.
Banco Bradesco S.A.
Banco do Brasil S.A.
Banco Itau Holding Financeira S.A.
BM&F Bovespa S.A.
Centrais Eletricas Brasileiras S.A.
Cia de Bebidas das Americas
CIA Energetica de Minas Gerais
Cia Siderurgica Nacional S.A.
CIA Vale do Rio Doce
Cia Vale do Rio Doce
CPFL Energia S.A.
Gerdau S.A.
Investimentos Itau S.A.
Metalurgica Gerdau S.A.
Perdigao S.A.
Petroleo Brasileiro S.A.
Petroleo Brasileiro S.A.
Usinas Siderurgicas de Minas Gerais S.A.
33,032
48,336
43,481
70,069
34,913
14,789
18,378
26,659
43,843
76,682
87,414
18,062
33,384
40,827
27,367
16,218
100,180
133,164
32,709
899,507
300
200
1,064
950
2,000
1,750
850
Canada: 3.4%
Agnico-Eagle Mines Ltd.
Agrium, Inc.
ARC Energy Trust
Bank of Montreal
Bank of Nova Scotia
Barrick Gold Corp.
BCE, Inc.
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16,760
14,143
21,476
57,665
100,192
67,147
24,982
2,900
850
1,350
950
1,100
800
800
1,200
300
600
1,750
1,950
700
814
1,750
700
1,350
850
200
600
1,400
950
900
800
700
200
1,850
1,550
3,580
300
952
1,792
1,436
750
1,050
2,503
900
150
1,200
2,764
700
1,050
ING
RussellTM
@
@
@
@
@
Bombardier, Inc. - Class B
Bonavista Energy Trust
Brookfield Asset Management, Inc. - Class A
Brookfield Properties Co.
Cameco Corp.
Canadian Imperial Bank of Commerce
Canadian National Railway Co.
Canadian Natural Resources Ltd.
Canadian Pacific Railway Ltd.
Canadian Utilities Ltd.
Cenovus Energy, Inc.
CGI Group, Inc. - Class A
Cresent Point Energy Corp.
Enbridge, Inc.
EnCana Corp.
Enerplus Resources Fund
Ensign Energy Services, Inc.
Finning International, Inc.
First Quantum Minerals Ltd.
Gildan Activewear, Inc.
GoldCorp, Inc.
Great-West Lifeco, Inc.
Husky Energy, Inc.
Imperial Oil Ltd.
Industrial Alliance Insurance
Inmet Mining Corp.
Ivanhoe Mines Ltd.
Kinross Gold Corp.
Manulife Financial Corp.
National Bank of Canada
Nexen, Inc.
Pengrowth Energy Trust
Penn West Energy Trust
Potash Corp. of Saskatchewan
Power Corp. of Canada
Provident Energy Trust
Research In Motion Ltd.
Ritchie Brothers Auctioneers, Inc.
Rogers Communications, Inc. - Class B (Canadian Denominated Security)
Royal Bank of Canada
Saputo, Inc.
Shaw Communications, Inc. - Class B
Global Large Cap Index 75% Portfolio
17,789
19,542
34,360
14,638
30,120
58,445
48,552
88,814
16,907
29,006
45,712
29,183
26,859
38,823
54,448
16,589
19,539
15,399
16,456
15,785
52,311
27,275
25,813
30,900
24,122
11,620
32,332
26,509
70,638
18,266
23,555
20,732
30,412
89,558
31,697
19,420
66,681
3,236
40,987
161,761
20,387
20,790
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
Canada (continued)
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2,600
750
1,050
3,230
1,650
600
1,423
600
827
900
1,752
300
1,214
600
2,050
@
@
Sherritt International Corp.
Shoppers Drug Mart Corp.
Sun Life Financial, Inc.
Suncor Energy, Inc.
Talisman Energy, Inc.
Teck Cominco Ltd. - Class A
Teck Cominco Ltd. - Class B
TELUS Corp.
Thomson Corp.
Tim Hortons, Inc.
Toronto Dominion Bank
Transalta Corp.
TransCanada Corp.
TSX Group, Inc.
Yamana Gold, Inc. (Canadian Denominated Security)
$
20,633
32,226
33,775
105,043
28,219
26,578
61,997
22,331
30,095
29,331
130,583
6,637
44,489
17,675
20,285
2,398,230
Chile: 0.0%
S.A.C.I. Falabella, S.A.
2,723
15,983
15,983
14,000
6,000
70,000
20,000
10,000
127,000
14,000
14,000
12,000
36,000
9,000
6,000
48,000
28,000
16,000
32,000
113,000
3,000
14,000
36,000
28,000
3,500
300
1,400
14,000
47,000
16,000
@
@
@
@
China: 1.1%
Aluminum Corp. of China Ltd.
Angang New Steel Co. Ltd.
Bank of China Ltd.
Beijing Capital International Airport Co. Ltd.
China Coal Energy Co. - Class H
China Construction Bank
China COSCO Holdings Co. Ltd.
China Life Insurance Co. Ltd.
China Oilfield Services Ltd.
China Petroleum & Chemical Corp.
China Shenhua Energy Co. Ltd.
China Shipping Development Co. Ltd.
China Telecom Corp. Ltd.
Datang International Power Generation Co. Ltd.
Fujian Zijin Mining Industry Co. Ltd.
Huaneng Power International, Inc.
Industrial and Commercial Bank of China Ltd.
Jiangxi Copper Co. Ltd.
Parkson Retail Group Ltd.
PetroChina Co. Ltd.
PICC Property & Casualty Insurance
Ping An Insurance Group Co. of China Ltd.
Suntech Power Holdings Co. Ltd. ADR
Tencent Holdings Ltd.
Tingyi Cayman Islands Holding Corp.
Want Want China Holdings Ltd.
Yanzhou Coal Mining Co. Ltd.
14,407
10,971
37,235
11,930
15,569
103,827
18,480
67,090
17,601
29,566
38,844
9,775
23,611
12,667
12,572
18,603
85,968
6,758
24,149
42,204
28,466
30,088
4,206
28,052
33,127
33,313
38,498
797,577
339
Czech Republic: 0.0%
CEZ A/S
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16,063
16,063
1
170
283
904
1,356
255
791
226
339
452
339
@
@
@
@
Denmark: 0.3%
AP Moller - Maersk A/S - Class A
Coloplast A/S
D/S Norden
Danske Bank A/S
DSV A/S
Genmab A/S
Novo-Nordisk A/S
Novozymes A/S
TDC A/S
Vestas Wind Systems A/S
William Demant Holding
7,276
18,708
12,281
22,182
24,212
3,212
61,062
25,002
14,953
24,591
23,971
237,450
Finland: 0.5%
Elisa OYJ
Fortum OYJ
Kone OYJ
Metso OYJ
Neste Oil OYJ
Nokia OYJ
Orion OYJ
Rautaruukki OYJ
Sampo OYJ
UPM-Kymmene OYJ
Wartsila OYJ
1,262
1,033
884
648
963
6,636
1,083
857
1,610
1,082
518
26,011
25,281
36,537
20,914
16,801
103,417
23,928
18,526
42,682
14,347
26,230
354,674
ING RussellTM Global Large Cap Index 75% Portfolio
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
568
799
414
5,441
386
3,315
1,716
413
938
593
1,070
291
226
1,188
588
@
@
France: 3.1%
Accor S.A.
Air France-KLM
Air Liquide
Alcatel S.A.
Alstom
AXA S.A.
BNP Paribas
Bourbon S.A.
Bouygues S.A.
Capgemini S.A.
Carrefour S.A.
Casino Guichard Perrachon S.A.
Christian Dior S.A.
Cie de Saint-Gobain
Cie Generale D’Optique Essilor International S.A.
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$
31,431
12,621
49,731
17,113
24,034
73,543
131,526
17,823
47,062
29,156
51,555
24,594
24,092
57,052
37,550
622
474
1,769
440
572
977
3,510
2,223
1,168
196
507
370
533
3,761
217
228
443
278
308
435
951
1,384
1,846
469
1,240
415
1,153
404
3,925
355
111
1,043
787
2,710
238
328
@
@
@
@
@
Compagnie Generale de Geophysique S.A.
Compagnie Generale des Etablissements Michelin
Credit Agricole S.A.
Dassault Systemes S.A.
Electricite de France
Eutelsat Communications
France Telecom S.A.
Gaz de France
Groupe Danone
Hermes International
Lafarge S.A.
L’Oreal S.A.
LVMH Moet Hennessy Louis Vuitton S.A.
Natixis
Neopost S.A.
Nexans S.A.
Pernod-Ricard S.A.
PPR
Remy Cointreau S.A.
Renault S.A.
Rhodia S.A.
Safran S.A.
Sanofi-Aventis
Schneider Electric S.A.
Societe Generale
Sodexho Alliance S.A.
Suez Environnement S.A.
Thales S.A.
Total S.A.
Valeo S.A.
Vallourec
Veolia Environnement
Vinci S.A.
Vivendi
Wendel Investissement
Zodiac S.A.
17,611
34,910
30,901
26,017
31,182
34,732
84,074
85,935
70,345
27,229
35,613
38,911
62,266
20,162
17,341
19,399
37,589
36,959
15,895
20,324
19,638
36,058
137,765
54,793
77,822
24,750
26,520
16,222
227,800
12,654
22,399
36,076
46,331
72,467
14,143
16,138
2,217,854
404
830
107
164
1,796
1,415
1,013
414
1,229
1,697
1,168
348
1,961
@
Germany: 2.4%
Adidas AG
Allianz AG
AMB Generali Holding AG
Axel Springer AG
BASF AG
Bayer AG
Bayerische Motoren Werke AG
Celesio AG
Commerzbank AG
DaimlerChrysler AG
Deutsche Bank AG
Deutsche Boerse AG
Deutsche Post AG
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21,599
103,881
12,186
18,949
111,169
95,612
46,733
13,232
10,471
79,761
89,660
25,748
33,964
5,497
3,213
226
344
633
697
705
274
4,134
386
ING
RussellTM
@
Deutsche Telekom AG
E.ON AG
EnBW Energie Baden-Wuerttemberg AG
Fresenius AG
Fresenius Medical Care AG & Co. KGaA
Henkel KGaA
Henkel KGaA - Vorzug
Hochtief AG
Infineon Technologies AG
K+S AG
Global Large Cap Index 75% Portfolio
74,285
118,787
11,935
25,978
35,665
32,265
37,971
22,992
28,630
23,391
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
Germany (continued)
Linde AG
MAN AG
Merck KGaA
MTU Aero Engines Holding AG
Muenchener Rueckversicherungs AG
Porsche AG
Rhoen Klinikum AG
RWE AG
Salzgitter AG
SAP AG
Siemens AG
Solarworld AG
ThyssenKrupp AG
Volkswagen AG ORD NPV
Volkswagen AG PFD
Wacker Chemie AG
307
395
173
301
377
159
914
810
229
1,503
1,533
390
799
197
250
92
$
36,619
33,040
14,026
17,508
61,156
9,676
23,391
71,857
21,218
72,766
153,174
5,864
27,398
19,040
22,913
13,728
1,678,238
1,074
1,631
1,320
841
@
@
@
Greece: 0.1%
Emporiki Bank of Greece S.A.
National Bank of Greece S.A.
Piraeus Bank S.A.
Public Power Corp.
5,830
32,894
11,532
14,771
65,027
950
@
Guernsey: 0.0%
Amdocs Ltd.
28,605
28,605
12,000
7,604
2,000
10,000
2,000
Hong Kong: 1.1%
Agile Property Holdings Ltd.
BOC Hong Kong Holdings Ltd.
Cheung Kong Holdings Ltd.
China Everbright Ltd.
China Merchants Holdings International Co. Ltd.
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16,339
18,093
25,718
26,710
7,349
10,500
10,320
6,000
4,000
6,600
16,294
5,000
4,000
32,000
12,000
2,700
4,188
2,000
14,000
2,300
4,500
4,700
400
5,000
3,000
6,000
400
500
4,000
34,000
2,000
1,356
3,000
@
China Mobile Ltd.
China Overseas Land & Investment Ltd.
China Resources Enterprise
China Resources Land Ltd.
China Resources Power Holdings Co.
China Unicom Ltd.
Citic Pacific Ltd.
CLP Holdings Ltd.
CNOOC Ltd.
Cosco Pacific Ltd.
Dairy Farm International Holdings Ltd.
Esprit Holdings Ltd.
Hang Seng Bank Ltd.
Hong Kong & China Gas
Hong Kong Exchanges and Clearing Ltd.
HongKong Electric Holdings
Hongkong Land Holdings Ltd.
Hopewell Highway Infrastructure Ltd.
Hopewell Holdings
Hutchison Whampoa Ltd.
Hysan Development Co. Ltd.
Jardine Matheson Holdings Ltd.
Jardine Strategic Holdings Ltd.
Li & Fung Ltd.
PCCW Ltd.
Sun Hung Kai Properties Ltd.
Swire Pacific Ltd.
Wharf Holdings Ltd.
100,973
23,261
22,254
8,675
14,111
18,283
11,927
28,589
52,832
18,142
17,820
33,006
27,828
34,881
38,299
26,690
23,795
273
14,799
21,910
17,329
13,314
9,612
19,672
10,118
30,012
16,299
16,879
765,792
226
678
113
@
@
Hungary: 0.1%
Mol Magyar Olaj- es Gazipari Rt
OTP Bank Nyrt
Richter Gedeon Nyrt
23,179
23,719
24,454
71,352
Indonesia: 0.2%
Bank Rakyat Indonesia
Bumi Resources Tbk PT
Perusahaan Gas Negara PT
Telekomunikasi Indonesia Tbk PT
36,500
49,000
57,500
38,500
33,014
12,070
26,797
34,312
106,193
1,150
3,232
1,100
205
@
Ireland: 0.3%
Accenture PLC
Bank of Ireland - London Exchange
Covidien PLC
CRH PLC
ING RussellTM Global Large Cap Index 75% Portfolio
48,243
7,044
55,308
5,122
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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Shares
Value
Ireland (continued)
CRH PLC Euro 0.32
Ingersoll-Rand PLC
Irish Life & Permanent Group Holdings PLC
1,577
650
2,360
$
39,338
22,666
9,378
187,099
600
1,736
@
Israel: 0.2%
Check Point Software Technologies
Teva Phaemaceutical Industries Ltd.
21,036
109,775
130,811
1,063
6,996
2,756
1,638
2,203
1,183
2,122
531
13,427
4
4,519
2,146
1,070
708
18,076
876
9,046
748
2,496
18,472
25,067
28,082
@
@
@
Italy: 1.0%
ACEA S.p.A.
AEM S.p.A.
Assicurazioni Generali S.p.A.
Banca Popolare dell’Emilia Romagna Scrl
Banca Popolare di Sondrio Scarl
Banche Popolari Unite Scpa
Bulgari S.p.A.
Credito Bergamasco S.p.A
Enel S.p.A.
Eni Certificate S.p.A.
ENI S.p.A.
Fiat S.p.A
Finmeccanica S.p.A.
Fondiaria-Sai S.p.A.
Intesa Sanpaolo S.p.A.
Luxottica Group S.p.A.
Parmalat S.p.A
Saipem S.p.A.
Snam Rete Gas S.p.A.
Telecom Italia S.p.A.
Telecom Italia S.p.A. RNC
UniCredito Italiano S.p.A.
10,796
13,114
66,185
22,227
22,112
15,957
17,292
17,273
75,043
—
105,999
27,926
14,278
10,638
67,317
23,468
24,780
28,935
12,648
26,559
28,277
82,802
713,626
800
2,700
1,000
3,000
2,000
1,800
2,000
1,000
1,100
100
1,400
2,000
1,100
5
Japan: 5.8%
Advantest Corp.
Aeon Co. Ltd.
Ajinomoto Co., Inc.
All Nippon Airways Co. Ltd.
Amada Co. Ltd.
Asahi Breweries Ltd.
Asahi Glass Co. Ltd.
Asics Corp.
Astellas Pharma, Inc.
Benesse Corp.
Bridgestone Corp.
Canon, Inc.
Casio Computer Co. Ltd.
Central Japan Railway Co.
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20,060
30,684
9,915
8,575
16,796
33,776
22,558
9,790
39,846
4,336
23,959
92,510
8,476
38,114
1,200
800
800
2,300
1,000
1,400
300
2,000
1,100
800
700
300
100
800
3,400
3,000
800
3,000
2,000
800
800
3,200
1,000
700
14,000
7,000
2,000
2,000
9,000
200
ING
RussellTM
@, I, X
Chubu Electric Power Co., Inc.
Chugai Pharmaceutical Co. Ltd.
Chugoku Electric Power Co., Inc.
Citizen Watch Co. Ltd.
Dai Nippon Printing Co. Ltd.
Daiichi Sankyo Co. Ltd.
Daito Trust Construction Co. Ltd.
Daiwa Securities Group, Inc.
Denso Corp.
East Japan Railway Co.
Eisai Co. Ltd.
Fanuc Ltd.
Fast Retailing Co. Ltd.
Fuji Photo Film Co. Ltd.
Fujitsu Ltd.
Furukawa Electric Co. Ltd.
Hitachi Construction Machinery Co. Ltd.
Hitachi Ltd.
Hitachi Metals Ltd.
Hokkaido Electric Power Co., Inc.
Hokuriku Electric Power Co.
Honda Motor Co. Ltd.
Hoya Corp.
Ibiden Co. Ltd.
Ishikawajima - Harima Heavy Industries Co. Ltd.
Isuzu Motors Ltd.
Itochu Corp.
J Front Retailing Co. Ltd.
Japan Airlines Corp.
Japan Petroleum Exploration Co.
Global Large Cap Index 75% Portfolio
30,014
15,026
15,911
15,757
13,526
26,248
14,506
10,541
32,829
55,662
24,961
31,886
17,393
27,557
22,320
15,615
18,936
11,162
21,056
15,355
17,606
112,796
27,534
24,161
25,648
18,976
17,554
11,788
—
10,155
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
11
1,200
300
3,000
1,600
1,100
9,000
7
2,000
110
6,000
2,000
Japan (continued)
Japan Tobacco, Inc.
JFE Holdings, Inc.
JSR Corp.
Kajima Corp.
Kansai Electric Power Co., Inc.
Kao Corp.
Kawasaki Heavy Industries Ltd.
KDDI Corp.
Keio Corp.
Keyence Corp.
Kintetsu Corp.
Kirin Brewery Co. Ltd.
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$
40,951
48,416
6,264
7,361
36,677
27,898
24,891
36,238
13,513
26,338
18,685
29,529
1,900
1,000
2,000
1,500
600
600
1,000
800
300
900
6,000
3,400
4,500
2,300
3,000
2,000
8,000
18,900
3,400
8,000
1,000
2,000
900
23,400
600
5,200
1,600
1,000
200
200
1,000
3,000
800
3,000
8,000
1,600
5,600
600
3,800
800
6
20
2,000
300
200
200
6,000
2,000
1,000
9,000
300
@
@
Komatsu Ltd.
Konica Minolta Holdings, Inc.
Kubota Corp.
Kuraray Co. Ltd.
Kurita Water Industries Ltd.
Kyocera Corp.
Kyowa Hakko Kogyo Co. Ltd.
Kyushu Electric Power Co., Inc.
Lawson, Inc.
Makita Corp.
Marubeni Corp.
Matsushita Electric Industrial Co. Ltd.
Mitsubishi Chemical Holdings Corp.
Mitsubishi Corp.
Mitsubishi Electric Corp.
Mitsubishi Estate Co. Ltd.
Mitsubishi Heavy Industries Ltd.
Mitsubishi UFJ Financial Group, Inc.
Mitsui & Co. Ltd.
Mitsui Engineering & Shipbuilding Co. Ltd.
Mitsui Fudosan Co. Ltd.
Mitsui OSK Lines Ltd.
Mitsui Sumitomo Insurance Group Holdings, Inc.
Mizuho Financial Group, Inc.
Murata Manufacturing Co. Ltd.
Nagoya Railroad Co. Ltd.
Namco Bandai Holdings, Inc.
NGK Insulators Ltd.
Nidec Corp.
Nintendo Co. Ltd.
Nippon Electric Glass Co. Ltd.
Nippon Express Co. Ltd.
Nippon Paper Group, Inc.
Nippon Sheet Glass Co. Ltd.
Nippon Steel Corp.
Nippon Telegraph & Telephone Corp.
Nissan Motor Co. Ltd.
Nissin Food Products Co. Ltd.
Nomura Holdings, Inc.
Nomura Research Institute Ltd.
NTT Data Corp.
NTT DoCoMo, Inc.
OJI Paper Co. Ltd.
Ono Pharmaceutical Co. Ltd.
Oriental Land Co. Ltd.
ORIX Corp.
Osaka Gas Co. Ltd.
Resona Holdings, Inc.
Ricoh Co. Ltd.
Sanyo Electric Co. Ltd.
Secom Co. Ltd.
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39,918
11,696
18,261
20,213
17,019
58,567
10,328
17,427
12,812
29,709
37,345
52,126
23,045
60,397
27,622
32,778
33,186
99,067
57,247
19,968
17,021
14,382
25,030
46,263
34,144
14,915
15,604
20,442
21,444
67,073
14,115
12,921
20,585
8,873
31,458
67,324
48,090
20,195
27,883
18,236
20,006
30,439
8,778
13,370
13,952
17,758
21,512
25,347
15,662
14,452
13,135
700
1,700
1,000
700
800
1,100
1,100
100
1,700
134
8,200
2,000
1,800
7
I, X
Seiko Epson Corp.
Seven & I Holdings Co. Ltd.
Sharp Corp.
Shikoku Electric Power Co.
Shin-Etsu Chemical Co. Ltd.
Shionogi & Co. Ltd.
Shiseido Co. Ltd.
SMC Corp.
Softbank Corp.
Softbank Investment Corp.
Sojitz Corp.
Sompo Japan Insurance, Inc.
Sony Corp.
Sony Financial Holdings, Inc.
ING RussellTM Global Large Cap Index 75% Portfolio
10,892
41,125
12,523
19,849
46,557
20,937
23,937
13,600
41,949
26,495
15,898
13,606
68,969
23,010
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
800
2,400
1,500
9,000
1,000
1,700
1,000
5,000
500
1,200
300
300
2,000
700
2,000
1,000
1,600
2,100
200
6,000
3,000
2,000
8,000
800
1,000
4,400
900
600
Japan (continued)
Stanley Electric Co. Ltd.
Sumitomo Corp.
Sumitomo Electric Industries Ltd.
Sumitomo Metal Industries Ltd.
Sumitomo Metal Mining Co. Ltd.
Sumitomo Mitsui Financial Group, Inc.
Sumitomo Realty & Development Co. Ltd.
Sumitomo Trust & Banking Co. Ltd.
T&D Holdings, Inc.
Takeda Pharmaceutical Co. Ltd.
TDK Corp.
Terumo Corp.
Tobu Railway Co. Ltd.
Toho Co. Ltd.
Toho Gas Co. Ltd.
Tohoku Electric Power Co., Inc.
Tokio Marine Holdings, Inc.
Tokyo Electric Power Co., Inc.
Tokyo Electron Ltd.
Tokyo Gas Co. Ltd.
Tokyu Corp.
Tokyu Land Corp.
Toshiba Corp.
Toyo Seikan Kaisha Ltd.
Toyota Boshoku Corp.
Toyota Motor Corp.
Toyota Tsusho Corp.
Trend Micro, Inc.
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$
15,560
27,637
18,428
27,285
14,878
56,321
19,082
29,388
11,864
52,841
20,000
15,995
11,109
11,284
10,920
21,154
45,106
56,010
13,291
26,465
12,559
7,656
41,407
14,176
19,224
176,921
14,139
20,944
8
290
1,400
1,100
West Japan Railway Co.
Yamada Denki Co. Ltd.
Yamaha Motor Co. Ltd.
Yamato Holdings Co. Ltd.
27,563
21,430
21,032
15,482
4,074,273
1,692
200
150
693
1,300
@
Luxembourg: 0.2%
ArcelorMittal
Millicom International Cellular S.A.
Reinet Investments S.A.
SES S.A.
Tenaris S.A.
74,187
17,830
2,426
17,491
28,030
139,964
17,800
10,300
21,500
12,775
@
Malaysia: 0.1%
Astro All Asia Networks PLC
Malayan Banking BHD
Resorts World BHD
TM International Bhd
23,318
23,566
18,894
15,061
80,839
51,680
Mauritius: 0.0%
Golden Agri-Resources Ltd.
38,710
16,772
5,750
6,235
14,733
4,000
4,850
5,900
Mexico: 0.4%
America Movil SA de CV - Series L
Cemex SAB de C.V.
Fomento Economico Mexicano SA de CV ADR
Grupo Financiero Inbursa S.A.
Grupo Mexico SA de CV
Grupo Modelo S.A.
Grupo Televisa S.A.
Wal-Mart de Mexico SA de CV
21,381
21,381
@
@
@
@
@
@
@
@
97,528
17,215
27,351
21,685
39,610
23,617
20,492
30,231
277,729
Morocco: 0.0%
Douja Promotion Groupe Addoha S.A.
795
10,840
10,840
2,688
588
1,130
700
1,249
789
390
6,761
2,665
280
1,959
793
1,830
6,657
@
@
@, **
@
Netherlands: 1.4%
Aegon NV
Akzo Nobel NV
ASML Holding NV
Chicago Bridge & Iron Co. NV
European Aeronautic Defence and Space Co. NV
Heineken NV
Hunter Douglas NV
ING Groep NV
Koninklijke Ahold NV
Koninklijke BAM Groep NV
Koninklijke Philips Electronics NV
Qiagen NV
Reed Elsevier NV
Royal Dutch Shell PLC - Class A
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18,349
33,492
40,064
16,282
25,091
40,522
19,921
66,985
35,538
2,174
62,857
18,274
22,209
193,005
ING
RussellTM
Global Large Cap Index 75% Portfolio
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
5,475
3,393
1,059
1,330
1,537
3,280
251
@
Netherlands (continued)
Royal Dutch Shell PLC - Class B
Royal KPN NV
SBM Offshore NV
SNS Reaal
TNT NV
Unilever NV
Van Lanschot NV
$
150,934
53,844
21,160
8,291
44,016
99,230
11,863
984,101
1,550
1,150
1,800
1,400
1,477
2,350
600
1,050
1,600
@
@
@
@
@
@
Norway: 0.3%
Acergy S.A.
Aker Kvaerner ASA
DnB NOR ASA
Petroleum Geo-Services ASA
Renewable Energy Corp. A/S
Statoil ASA
Storebrand ASA
Subsea 7, Inc.
Telenor ASA
28,446
18,062
20,587
18,390
6,914
54,683
4,748
21,317
21,714
194,861
Philippines: 0.1%
Philippine Long Distance Telephone Co.
SM Investments Corp.
460
2,940
24,620
24,048
48,668
342
238
3,841
1,638
752
1,074
2,505
@
@
@
@
@
Poland: 0.2%
Bank Pekao S.A.
Bank Zachodni WBK S.A.
Getin Holding S.A.
Globe Trade Centre S.A.
KGHM Polska Miedz S.A.
Polski Koncern Naftowy S.A.
Telekomunikacja Polska S.A.
19,884
17,158
14,460
14,233
28,263
14,575
14,230
122,803
Portugal: 0.0%
Energias de Portugal S.A.
7,639
30,353
30,353
800
4,844
3,000
300
@
@
Russia: 0.3%
Lukoil-Spon ADR
OAO Gazprom ADR
Surgutneftegaz ADR
Vostok Gas Ltd.
45,360
113,689
29,717
—
188,766
6,000
Singapore: 0.4%
CapitaLand Ltd.
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16,988
2,000
16,000
3,000
7,000
1,000
1,000
2,000
6,630
2,000
8,000
16,000
2,000
6,000
City Developments Ltd.
Cosco Corp. Singapore Ltd.
DBS Group Holdings Ltd.
Fraser and Neave Ltd.
Great Eastern Holdings Ltd.
Jardine Cycle & Carriage Ltd.
Keppel Corp. Ltd.
Oversea-Chinese Banking Corp.
Singapore Exchange Ltd.
Singapore Press Holdings Ltd.
Singapore Telecommunications Ltd.
United Overseas Bank Ltd.
Wilmar International Ltd.
15,128
14,143
30,587
23,979
11,140
20,966
13,027
41,204
10,919
21,824
36,193
27,407
28,676
312,181
1,028
3,903
228
678
1,406
10,830
1,301
1,309
3,163
1,074
1,452
1,069
5,541
8,355
904
3,317
2,625
8,416
864
@
@
South Africa: 0.8%
ABSA Group Ltd.
African Bank Investments Ltd.
Anglo Platinum Ltd.
Anglogold Ashanti Ltd. ADR
Exxaro Resources Ltd.
FirstRand Ltd.
Gold Fields Ltd.
Impala Platinum Holdings Ltd.
MTN Group Ltd.
Naspers Ltd.
Nedcor Ltd.
Remgro Ltd.
RMB Holdings Ltd.
Sanlam Ltd.
Sasol Ltd.
Shoprite Holdings Ltd.
Standard Bank Group Ltd.
Steinhoff International Holdings Ltd.
Vodacom Group Pty Ltd.
20,036
19,063
23,132
25,735
24,280
30,056
16,450
38,428
48,554
46,567
27,977
14,362
24,647
28,480
37,467
32,984
41,113
23,076
6,584
528,991
ING
RussellTM
Global Large Cap Index 75% Portfolio
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
159
233
1,980
630
680
234
29
@
South Korea: 1.2%
CJ CheilJedang Corp.
Daelim Industrial Co.
Daewoo Engineering & Construction Co. Ltd.
Daewoo Securities Co. Ltd.
Daewoo Shipbuilder & Marine Engine Co. Ltd.
Hanjin Heavy Industries & Construction
Hite Brewery Co. Ltd.
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$
31,613
15,438
19,254
11,350
13,042
5,327
3,652
1,070
80
113
325
1,470
975
570
106
530
341
286
179
850
226
213
136
588
249
850
226
1,088
129
283
1,120
@
@
@
@
Hynix Semiconductor, Inc.
Hyundai Mipo Dockyard Co. Ltd.
Hyundai Mobis
Hyundai Motor Co.
Industrial Bank of Korea
KB Financial Group, Inc.
Korea Electric Power Corp.
Korea Express Co. Ltd.
Korea Investment Holdings Co. Ltd.
KT Corp.
KT&G Corp.
LG Chem Ltd.
LG Display Co. Ltd.
LG Electronics, Inc.
Mirae Asset Securities Co. Ltd.
Posco
Samsung Card Co.
Samsung Electronics Co. Ltd.
Samsung Heavy Industries Co. Ltd.
Samsung SDI Co. Ltd.
Shinhan Financial Group Ltd.
SK Telecom Co. Ltd.
S-Oil Corp.
Woori Finance Holdings Co. Ltd.
25,252
10,992
14,975
33,141
19,219
46,957
18,496
6,191
14,561
14,114
15,822
38,042
30,037
22,974
10,732
63,565
26,670
180,026
19,793
28,359
42,885
19,815
14,262
16,416
832,972
Spain: 1.2%
Abertis Infraestructuras S.A.
Acciona S.A.
ACS Actividades de Construccion y Servicios S.A.
Banco Bilbao Vizcaya Argentaria S.A.
Banco De Sabadell S.A.
Banco Popular Espanol S.A.
Banco Santander Central Hispano S.A.
Bankinter S.A.
Corporacion Financiera Alba S.A.
Criteria Caixacorp S.A.
Endesa S.A.
Faes Farma S.A.
Gamesa Corp. Tecnologica S.A.
Grifols S.A.
Iberdrola Renovables
Iberdrola S.A.
Inditex S.A.
Repsol YPF S.A.
Telefonica S.A.
1,567
183
378
7,042
4,817
1,977
14,709
1,567
21
4,173
438
2,327
657
856
4,344
8,660
693
1,863
7,447
30,180
20,273
17,441
96,300
26,607
14,540
195,101
13,060
1,051
20,704
12,513
10,725
8,999
12,783
18,016
73,330
45,707
44,132
176,454
837,916
1,040
1,808
1,582
1,074
@
Sweden: 0.9%
Alliance Oil Co. Ltd.
Atlas Copco AB - Class A
Atlas Copco AB - Class B
Hennes & Mauritz AB
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16,483
28,021
22,160
69,839
1,130
3,785
2,034
1,280
6,801
2,818
2,034
2,712
3,841
2,034
1,356
678
1,356
5,651
2,204
2,824
3,389
@
@
@
Hexagon AB
Husqvarna AB - B Shares
Lundin Petroleum AB
Meda AB
Nordea Bank AB
Sandvik AB
Scania AB - B Shares
Securitas AB
Skandinaviska Enskilda Banken AB
Svenska Cellulosa AB - B Shares
Svenska Handelsbanken AB
Swedish Match AB
Tele2 AB - B Shares
Telefonaktiebolaget LM Ericsson - Series B
Telefonaktiebolaget LM Ericsson
TeliaSonera AB
Volvo AB - B Shares
16,095
27,551
17,218
14,052
67,038
35,204
32,196
28,911
24,466
28,679
39,786
16,202
22,607
59,256
22,816
20,052
34,104
642,736
ING
RussellTM
Global Large Cap Index 75% Portfolio
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
4,746
650
298
623
100
200
170
1,298
1,901
668
609
539
1,049
215
100
6,677
692
4,250
268
113
1,360
1,963
46
133
@
@
@
@
@
@
Switzerland: 2.6%
ABB Ltd.
ACE Ltd.
Actelion Ltd. - Reg
Adecco S.A.
Alcon, Inc.
Aryzta AG
Basler Kantonalbank
Compagnie Financiere Richemont S.A.
Credit Suisse Group
Holcim Ltd.
Julius Baer Group Ltd.
Julius Baer Holding AG - Reg
Logitech International S.A.
Lonza Group AG
Mettler Toledo International, Inc.
Nestle S.A.
Nobel Biocare Holding AG
Novartis AG
PSP Swiss Property AG
Roche Holding AG - Bearer
Roche Holding AG - Genusschein
STMicroelectronics NV
Straumann Holding AG
Swatch Group AG - BR
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$103,751
33,995
13,548
35,369
16,156
8,685
20,257
50,330
97,849
49,783
22,043
6,610
17,296
17,562
10,920
342,143
18,489
229,899
17,206
18,841
220,878
19,480
11,437
42,413
688
52
229
186
5,459
103
3,797
235
@
@
Swiss Reinsurance
Swisscom AG
Syngenta AG
Synthes, Inc.
UBS AG - Reg
Valiant Holding
Xstrata PLC
Zurich Financial Services AG
33,757
18,993
63,588
23,238
88,806
20,081
71,863
60,276
1,805,542
38,000
8,830
23,600
9,000
26,989
10,830
19,000
18,480
7,180
10,630
2,100
12,500
2,004
43,000
22,570
9,040
17,000
50,000
31,000
53,234
17,660
23,000
@
Taiwan: 0.9%
Advanced Semiconductor Engineering, Inc.
Asustek Computer, Inc.
AU Optronics Corp.
Cathay Financial Holding Co. Ltd.
China Steel Corp.
Chunghwa Telecom Co. Ltd.
Far EasTone Telecommunications Co. Ltd.
Formosa Chemicals & Fibre Co.
Formosa Petrochemical Corp.
Formosa Plastics Corp.
High Tech Computer Corp.
HON HAI Precision Industry Co. Ltd.
MediaTek, Inc.
Mega Financial Holdings Co. Ltd.
Nan Ya Plastics Corp.
Novatek Microelectronics Corp. Ltd.
Siliconware Precision Industries Co.
Sinopac Financial Holdings, Co.
Taiwan Cooperative Bank
Taiwan Semiconductor Manufacturing Co. Ltd.
Uni-President Enterprises Corp.
Yuanta Financial Holding Co. Ltd.
34,577
15,376
26,731
15,026
27,927
21,165
22,740
43,250
18,917
23,437
24,534
54,125
34,782
24,928
46,056
28,175
20,473
17,796
18,738
103,154
20,110
13,799
655,816
Thailand: 0.1%
Advanced Info Service PCL
Banpu Public Co. Ltd.
PTT PLC
Siam Commercial Bank PCL
5,100
1,700
3,100
8,000
13,597
32,020
25,081
22,733
93,431
3,942
3,947
5,426
5,259
6,382
2,690
6,326
@
@
@
Turkey: 0.2%
Akbank TAS
Eregli Demir ve Celik Fabrikalari TAS
Haci Omer Sabanci Holding A/S
KOC Holding A/S
Turkiye Garanti Bankasi A/S
Turkiye Halk Bankasi
Turkiye Vakiflar Bankasi Tao
25,597
11,911
23,414
18,071
29,918
19,527
17,008
145,446
2,011
United Kingdom: 5.9%
Amec PLC
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24,383
2,464
@
Anglo American PLC
ING RussellTM Global Large Cap Index 75% Portfolio
107,256
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
1,319
8,256
1,905
2,504
388
5,926
7,049
20,063
5,753
3,849
33,925
3,641
3,712
16,407
1,750
2,840
5,494
5,494
2,863
7,020
2,037
517
10,898
3,903
4,980
5,268
3,320
2,548
9,353
8,674
14,645
31,217
1,996
1,998
36,884
2,309
1,271
3,277
5,286
2,759
3,207
@
I, X
@
@
United Kingdom (continued)
Antofagasta PLC
ARM Holdings PLC
Associated British Foods PLC
AstraZeneca PLC
Autonomy Corp. PLC
Aviva PLC
BAE Systems PLC
Barclays PLC
BG Group PLC
BHP Billiton PLC
BP PLC
British American Tobacco PLC
British Sky Broadcasting PLC
BT Group PLC
Bunzl PLC
Burberry Group PLC
Cable & Wireless Communications PLC
Cable & Wireless Worldwide
Cadbury PLC
Cairn Energy PLC
Capita Group PLC
Carnival PLC
Centrica PLC
Cobham PLC
Compass Group PLC
Diageo PLC
Experian Group Ltd.
Firstgroup PLC
GlaxoSmithKline PLC
Group 4 Securicor PLC
Hays PLC
HSBC Holdings PLC
ICAP PLC
Imperial Tobacco Group PLC
Inchcape PLC
Inmarsat PLC
Intercontinental Hotels Group PLC
International Power PLC
Invensys PLC
Investec PLC
J Sainsbury PLC
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$
20,828
29,593
28,312
111,643
10,724
34,619
39,741
109,247
99,629
131,551
321,105
125,525
33,913
30,798
19,153
30,780
4,615
7,670
37,930
44,451
23,391
21,223
48,661
15,221
39,756
88,570
32,647
13,877
179,528
34,429
24,123
316,350
11,315
60,962
16,499
26,480
19,895
15,912
27,302
22,554
15,954
1,261
1,436
6,645
5,458
16,127
74,394
9,605
465
3,163
3,383
2,053
4,798
3,153
11,648
2,190
1,634
2,395
4,693
5,307
212
1,194
3,425
11,518
2,436
3,957
7,172
37,539
1,654
7,182
709
1,680
657
1,383
2,134
1,249
3,200
@
@
@
@
@
@
@
Johnson Matthey PLC
Kazakhmys PLC
Kingfisher PLC
Ladbrokes PLC
Legal & General Group PLC
Lloyds TSB Group PLC
LogicaCMG PLC
Lonmin PLC
Man Group PLC
Marks & Spencer Group PLC
Mitchells & Butlers PLC
National Grid PLC
Northumbrian Water Group PLC
Old Mutual PLC
Pearson PLC
Pennon Group PLC
Persimmon PLC
Prudential PLC
QinetiQ PLC
Randgold Resources Ltd.
Reckitt Benckiser PLC
Reed Elsevier PLC
Rentokil Initial PLC
Rio Tinto PLC
Rolls-Royce Group PLC
Royal & Sun Alliance Insurance Group
Royal Bank of Scotland Group PLC
SABMiller PLC
Sage Group PLC
Schroders PLC
Scottish & Southern Energy PLC
Severn Trent PLC
Shire PLC
Smith & Nephew PLC
Smiths Group PLC
Stagecoach Group PLC
ING RussellTM Global Large Cap Index 75% Portfolio
33,475
33,195
21,636
13,173
21,505
70,642
19,897
14,395
11,578
19,013
9,892
46,705
13,550
21,639
34,333
12,974
16,954
38,824
10,797
16,268
65,603
27,280
22,849
144,013
35,826
13,885
24,867
48,514
26,075
15,146
28,091
11,912
30,479
21,310
21,546
8,889
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
2,766
5,463
1,790
15,825
2,053
2,635
United Kingdom (continued)
Standard Chartered PLC
Standard Life PLC
Tate & Lyle PLC
Tesco PLC
Tullow Oil PLC
Unilever PLC
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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$
75,394
16,591
12,332
104,628
38,958
77,139
3,347
772
94,531
7,349
1,115
4,000
@
United Utilities Group PLC
Vedanta Resources PLC
Vodafone Group PLC
WM Morrison Supermarkets PLC
Wolseley PLC
WPP PLC
28,411
32,504
218,642
32,715
26,942
41,391
4,190,492
1,530
2,960
1,650
800
800
2,600
1,100
900
700
500
600
650
850
2,700
300
600
800
300
100
300
1,100
200
1,050
3,820
650
600
750
1,700
750
600
1,500
2,100
1,000
850
224
750
650
200
1,650
2,400
300
950
600
@
@
@
@
@
@
@
@
@
@
@
@
@
@
United States: 32.4%
3M Co.
Abbott Laboratories
Activision Blizzard, Inc.
Adobe Systems, Inc.
Aecom Technology Corp.
AES Corp.
Aetna, Inc.
Aflac, Inc.
Agilent Technologies, Inc.
Air Products & Chemicals, Inc.
AK Steel Holding Corp.
Akamai Technologies, Inc.
Alberto-Culver Co.
Alcoa, Inc.
Allegheny Energy, Inc.
Allegheny Technologies, Inc.
Allergan, Inc.
Alliance Data Systems Corp.
Alliant Techsystems, Inc.
Allied World Assurance Holdings Ltd.
Allstate Corp.
Alpha Natural Resources, Inc.
Altera Corp.
Altria Group, Inc.
Amazon.com, Inc.
Ameren Corp.
American Electric Power Co., Inc.
American Express Co.
American Tower Corp.
Ameriprise Financial, Inc.
AmerisourceBergen Corp.
Amgen, Inc.
Anadarko Petroleum Corp.
Analog Devices, Inc.
AOL, Inc.
AON Corp.
Apache Corp.
Apollo Group, Inc. - Class A
Apple, Inc.
Applied Materials, Inc.
Aptargroup, Inc.
Aqua America, Inc.
Arch Coal, Inc.
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127,862
155,933
19,899
28,296
22,696
28,600
38,621
48,861
24,073
36,975
13,716
20,417
22,228
38,448
6,900
32,394
52,256
19,197
8,130
13,455
35,541
9,978
25,526
78,386
88,225
15,648
25,635
70,142
31,958
27,216
43,380
125,496
72,830
24,497
5,663
32,033
65,975
12,258
387,635
32,352
11,805
16,692
13,710
1,200
750
300
10,370
4,000
700
1,200
100
600
700
950
900
300
15,742
200
2,370
1,380
1,450
850
300
ING
RussellTM
@
@
@
@
@
Archer-Daniels-Midland Co.
Arthur J. Gallagher & Co.
Assurant, Inc.
AT&T, Inc.
Atmel Corp.
Autodesk, Inc.
Automatic Data Processing, Inc.
Autozone, Inc.
Avery Dennison Corp.
Avnet, Inc.
Avon Products, Inc.
Baker Hughes, Inc.
Ball Corp.
Bank of America Corp.
Bank of Hawaii Corp.
Bank of New York Mellon Corp.
Baxter International, Inc.
BB&T Corp.
BE Aerospace, Inc.
Becton Dickinson & Co.
Global Large Cap Index 75% Portfolio
34,680
18,413
10,314
267,961
20,120
20,594
53,364
17,309
21,846
21,000
32,177
42,156
16,014
280,995
8,990
73,186
80,316
46,966
25,883
23,619
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
750
600
1,100
600
300
300
900
1,550
200
3,200
3,600
1,150
1,050
1,000
950
150
300
300
1,350
600
1,450
500
@
@
@
@
@
@
@
@
@
@
United States (continued)
Bed Bath & Beyond, Inc.
Bemis Co.
Best Buy Co., Inc.
Big Lots, Inc.
Biogen Idec, Inc.
BJ’s Wholesale Club, Inc.
BMC Software, Inc.
Boeing Co.
BOK Financial Corp.
Boston Scientific Corp.
Bristol-Myers Squibb Co.
Broadcom Corp.
Broadridge Financial Solutions ADR
Brocade Communications Systems, Inc.
Brown & Brown, Inc.
Brown-Forman Corp.
Bucyrus International, Inc.
Bunge Ltd.
CA, Inc.
Cabot Corp.
Calpine Corp.
Cameron International Corp.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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$
32,820
17,232
46,794
21,852
17,208
11,097
34,200
112,546
10,488
23,104
96,120
38,157
22,449
5,710
17,024
8,918
19,797
18,489
31,685
18,240
17,241
21,430
750
900
1,150
300
600
700
250
600
1,050
750
1,200
1,050
1,950
800
342
200
200
600
1,750
1,450
3,720
100
900
600
900
10,840
27,580
200
200
200
100
550
4,290
750
1,160
5,520
330
850
250
1,450
2,960
600
900
600
1,450
1,450
300
900
600
3,150
800
@
@
@
@
@
@
@
@
@
@
@
@
@
@
@
Campbell Soup Co.
Capital One Financial Corp.
CapitalSource, Inc.
Capitol Federal Financial
Cardinal Health, Inc.
Career Education Corp.
CareFusion Corp.
Carlisle Cos., Inc.
Carmax, Inc.
Carnival Corp.
Caterpillar, Inc.
CB Richard Ellis Group, Inc.
CBS Corp. - Class B
Celgene Corp.
CenturyTel, Inc.
Cephalon, Inc.
Cerner Corp.
CH Robinson Worldwide, Inc.
Charles Schwab Corp.
Chesapeake Energy Corp.
Chevron Corp.
Chipotle Mexican Grill, Inc.
Chubb Corp.
Cigna Corp.
Cincinnati Financial Corp.
Cisco Systems, Inc.
Citigroup, Inc.
City National Corp.
Cliffs Natural Resources, Inc.
Clorox Co.
CME Group, Inc.
Coach, Inc.
Coca-Cola Co.
Cognizant Technology Solutions Corp.
Colgate-Palmolive Co.
Comcast Corp. – Class A
Commerce Bancshares, Inc.
Commercial Metals Co.
Computer Sciences Corp.
ConAgra Foods, Inc.
ConocoPhillips
Consol Energy, Inc.
Consolidated Edison, Inc.
Constellation Energy Group, Inc.
Continental Airlines, Inc.
Convergys Corp.
Con-way, Inc.
Cooper Industries PLC
Corn Products International, Inc.
Corning, Inc.
Costco Wholesale Corp.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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26,513
37,269
6,429
11,238
21,618
22,148
6,608
22,860
26,376
29,160
75,420
16,643
27,183
49,568
12,127
13,556
17,012
33,510
32,708
34,278
282,088
11,267
46,665
21,948
26,010
282,165
111,699
10,794
14,190
12,828
31,611
21,736
235,950
38,235
98,902
103,886
13,576
12,801
13,623
36,352
151,463
25,596
40,086
21,066
31,857
17,777
10,536
43,146
20,796
63,662
47,768
100
200
1,050
750
@
@
@
Covance, Inc.
CR Bard, Inc.
Crown Castle International Corp.
Crown Holdings, Inc.
ING RussellTM Global Large Cap Index 75% Portfolio
6,139
17,324
40,142
20,220
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
800
200
600
2,810
1,450
300
200
900
3,600
2,875
1,050
1,110
200
750
2,100
1,650
300
950
1,200
300
900
1,750
650
750
300
2,100
200
300
600
600
2,650
750
900
200
1,750
1,650
950
1,800
@
@
@
@
@
@
@
@
@
@
@
United States (continued)
CSX Corp.
Cullen/Frost Bankers, Inc.
Cummins, Inc.
CVS Caremark Corp.
D.R. Horton, Inc.
Danaher Corp.
DaVita, Inc.
Deere & Co.
Dell, Inc.
Delta Airlines, Inc.
Denbury Resources, Inc.
Devon Energy Corp.
DeVry, Inc.
Diebold, Inc.
DirecTV
Discover Financial Services
Discovery Communications, Inc. - Class C
Dish Network Corp.
Dominion Resources, Inc.
Donaldson Co., Inc.
Dover Corp.
Dow Chemical Co.
Dr Pepper Snapple Group, Inc.
DreamWorks Animation SKG, Inc.
DTE Energy Co.
Duke Energy Corp.
Dun & Bradstreet Corp.
Eastman Chemical Co.
Eaton Corp.
Eaton Vance Corp.
eBay, Inc.
Ecolab, Inc.
Edison International
Edwards Lifesciences Corp.
EI Du Pont de Nemours & Co.
El Paso Corp.
Electronic Arts, Inc.
Eli Lilly & Co.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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$
40,720
11,160
37,170
102,734
18,270
23,973
12,680
53,514
54,036
41,946
17,714
71,517
13,040
23,820
71,001
24,585
8,823
19,779
49,332
13,536
42,075
51,748
22,861
29,543
13,380
34,272
14,884
19,104
45,462
20,124
71,418
32,963
30,753
19,776
65,170
17,886
17,727
65,196
4,150
1,400
200
200
750
300
750
300
600
1,600
750
500
8,860
600
800
1,050
1,050
1,350
600
100
750
600
900
700
200
300
5,550
600
1,000
300
600
800
200
900
850
1,350
1,350
800
18,790
@
@
@
@
@
@
@
@
@
@
@
EMC Corp.
Emerson Electric Co.
Energizer Holdings, Inc.
Entergy Corp.
EOG Resources, Inc.
EQT Corp.
Equifax, Inc.
Erie Indemnity Co.
Estee Lauder Cos., Inc.
Exelon Corp.
Expeditors International Washington, Inc.
Express Scripts, Inc.
ExxonMobil Corp.
Family Dollar Stores, Inc.
FedEx Corp.
Fidelity National Information Services, Inc.
Fidelity National Title Group, Inc.
Fifth Third Bancorp.
First American Corp.
First Solar, Inc.
FirstEnergy Corp.
Fiserv, Inc.
Flir Systems, Inc.
Fluor Corp.
FMC Corp.
FMC Technologies, Inc.
Ford Motor Co.
Forest City Enterprises, Inc.
Forest Laboratories, Inc.
Fortune Brands, Inc.
Foster Wheeler AG
FPL Group, Inc.
Franklin Resources, Inc.
Freeport-McMoRan Copper & Gold, Inc.
Frontier Oil Corp.
Fulton Financial Corp.
Gap, Inc.
General Dynamics Corp.
General Electric Co.
ING RussellTM Global Large Cap Index 75% Portfolio
74,866
70,476
12,552
16,270
69,705
12,300
26,850
12,939
38,922
70,096
27,690
50,880
593,443
21,966
74,720
24,612
15,561
18,347
20,304
12,265
29,318
30,456
25,380
32,557
12,108
19,389
69,764
8,646
31,360
14,553
16,284
38,664
22,180
75,186
11,475
13,757
31,199
61,760
341,978
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
800
200
300
@
United States (continued)
General Mills, Inc.
Gen-Probe, Inc.
Genuine Parts Co.
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$
56,632
10,000
12,672
1,550
750
1,700
600
940
950
450
600
950
200
300
700
1,850
600
600
600
600
600
850
900
850
200
600
1,850
300
4,530
800
700
3,300
1,600
750
1,050
750
1,850
900
1,350
200
11,060
200
2,410
600
1,150
600
850
750
100
1,050
300
1,650
600
850
@
@
@
@
@
@
@
@
@
@
@
@
@
@
@
@
@
Genworth Financial, Inc.
Genzyme Corp.
Gilead Sciences, Inc.
Global Payments, Inc.
Goldman Sachs Group, Inc.
Goodyear Tire & Rubber Co.
Google, Inc. - Class A
Graco, Inc.
Great Plains Energy, Inc.
Greif, Inc. - Class A
Guess ?, Inc.
H&R Block, Inc.
Halliburton Co.
Hansen Natural Corp.
Harley-Davidson, Inc.
Harris Corp.
Hartford Financial Services Group, Inc.
Hasbro, Inc.
Hawaiian Electric Industries
HCC Insurance Holdings, Inc.
Health Net, Inc.
Henry Schein, Inc.
Hershey Co.
Hertz Global Holdings, Inc.
Hess Corp.
Hewlett-Packard Co.
HJ Heinz Co.
Hologic, Inc.
Home Depot, Inc.
Honeywell International, Inc.
Hospira, Inc.
Hudson City Bancorp., Inc.
Humana, Inc.
Huntington Bancshares, Inc.
Illinois Tool Works, Inc.
Ingram Micro, Inc.
Integrys Energy Group, Inc.
Intel Corp.
IntercontinentalExchange, Inc.
International Business Machines Corp.
International Flavors & Fragrances, Inc.
International Paper Co.
International Speedway Corp.
Intersil Corp.
Intuit, Inc.
Intuitive Surgical, Inc.
Invesco Ltd.
ITT Corp.
Jabil Circuit, Inc.
Jacobs Engineering Group, Inc.
Janus Capital Group, Inc.
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28,427
38,873
77,316
27,330
160,392
12,008
255,155
19,200
17,642
10,984
14,094
12,460
55,741
26,028
16,842
28,494
17,052
22,968
19,083
24,840
21,140
11,780
25,686
18,482
18,765
240,770
36,488
12,978
106,755
72,432
42,488
14,868
35,078
9,935
42,624
23,693
9,476
246,196
22,436
309,083
28,602
28,302
15,462
12,546
25,755
34,813
23,006
16,083
26,714
27,114
12,147
300
500
950
600
600
5,100
1,350
200
6,950
950
600
800
700
800
2,780
1,200
200
200
600
200
300
850
600
ING
RussellTM
@
@
@
@
@
JB Hunt Transport Services, Inc.
JC Penney Co., Inc.
Jefferies Group, Inc.
JM Smucker Co.
John Wiley & Sons, Inc.
Johnson & Johnson
Johnson Controls, Inc.
Joy Global, Inc.
JPMorgan Chase & Co.
Juniper Networks, Inc.
Kellogg Co.
Kimberly-Clark Corp.
KLA-Tencor Corp.
Kohl’s Corp.
Kraft Foods, Inc.
Kroger Co.
L-3 Communications Holdings, Inc.
Laboratory Corp. of America Holdings
Lam Research Corp.
Landstar System, Inc.
Leap Wireless International, Inc.
Leggett & Platt, Inc.
Lender Processing Services, Inc.
Global Large Cap Index 75% Portfolio
10,764
16,085
22,487
36,156
25,968
332,520
44,537
11,320
311,013
29,146
32,058
50,304
21,644
43,824
84,067
25,992
18,326
15,142
22,392
8,396
4,908
18,394
22,650
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
1,050
5,800
95
132
600
950
750
800
750
1,450
790
800
300
3,200
300
200
900
1,400
700
@
@
@
@
@
@
@
United States (continued)
Lennar Corp.
Level 3 Communications, Inc.
Liberty Media Corp. - Starz
Life Technologies Corp.
LifePoint Hospitals, Inc.
Limited Brands, Inc.
Lincare Holdings, Inc.
Lincoln National Corp.
Linear Technology Corp.
LKQ Corp.
Lockheed Martin Corp.
Loews Corp.
Lorillard, Inc.
Lowe’s Cos., Inc.
Lubrizol Corp.
M&T Bank Corp.
Macy’s, Inc.
Marathon Oil Corp.
Mariner Energy, Inc.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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$
18,071
9,396
5,195
6,900
22,068
23,389
33,660
24,560
21,210
29,435
65,744
29,824
22,572
77,568
27,516
15,876
19,593
44,296
10,479
1,361
1,450
1,350
200
1,450
550
300
850
2,070
850
600
850
900
2,070
700
5,521
300
1,200
850
13,810
200
200
1,160
950
2,600
600
4,250
300
800
1,050
950
1,050
900
5,050
600
800
1,650
850
650
900
600
500
800
850
900
750
850
700
1,950
750
1,650
@
@
@
@
@
@
@
@
@
@
@
@
@
Marriott International, Inc.
Marsh & McLennan Cos., Inc.
Masco Corp.
Mastercard, Inc.
Mattel, Inc.
McAfee, Inc.
McCormick & Co., Inc.
McDermott International, Inc.
McDonald’s Corp.
McGraw-Hill Cos., Inc.
McKesson Corp.
MDU Resources Group, Inc.
Medco Health Solutions, Inc.
Medtronic, Inc.
MEMC Electronic Materials, Inc.
Merck & Co., Inc.
Mercury General Corp.
Metlife, Inc.
Microchip Technology, Inc.
Microsoft Corp.
Mohawk Industries, Inc.
Molson Coors Brewing Co.
Monsanto Co.
Monster Worldwide, Inc.
Morgan Stanley
Mosaic Co.
Motorola, Inc.
Murphy Oil Corp.
National Oilwell Varco, Inc.
National Semiconductor Corp.
NetApp, Inc.
New York Community Bancorp., Inc.
Newmont Mining Corp.
News Corp. - Class A
NII Holdings, Inc.
Nike, Inc.
NiSource, Inc.
Noble Corp.
Noble Energy, Inc.
Norfolk Southern Corp.
Northeast Utilities
Northern Trust Corp.
Northrop Grumman Corp.
Novellus Systems, Inc.
NRG Energy, Inc.
NSTAR
Nuance Communications, Inc.
Nucor Corp.
Nvidia Corp.
NYSE Euronext
Occidental Petroleum Corp.
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42,899
35,409
20,952
50,800
32,973
22,072
11,508
22,882
138,110
30,303
39,432
18,343
58,104
93,212
10,731
206,209
13,116
52,008
23,936
404,177
10,876
8,412
82,847
15,780
76,154
36,462
29,835
16,857
32,464
15,173
30,932
17,367
45,837
72,771
24,996
58,800
26,070
35,547
47,450
50,301
16,584
27,630
52,456
21,250
18,810
26,565
14,144
31,766
33,891
22,208
139,491
200
300
800
2,250
950
7,170
900
ING
RussellTM
@
@
Oceaneering International, Inc.
Omnicare, Inc.
Omnicom Group
ON Semiconductor Corp.
OneBeacon Insurance Group Ltd.
Oracle Corp.
Paccar, Inc.
Global Large Cap Index 75% Portfolio
12,698
8,487
31,048
18,000
16,388
184,197
39,006
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
750
300
200
600
900
600
850
3,077
700
300
850
700
15,121
300
3,670
300
750
950
300
750
650
300
950
5,170
300
1,750
900
1,200
1,978
700
3,080
300
600
4,400
300
@
@
@
@
United States (continued)
Pacific Gas & Electric Co.
Pall Corp.
Panera Bread Co.
Parker Hannifin Corp.
Paychex, Inc.
Peabody Energy Corp.
People’s United Financial, Inc.
PepsiCo, Inc.
PerkinElmer, Inc.
Perrigo Co.
PetroHawk Energy Corp.
Petsmart, Inc.
Pfizer, Inc.
Pharmaceutical Product Development, Inc.
Philip Morris International, Inc.
Pinnacle West Capital Corp.
Pitney Bowes, Inc.
PNC Financial Services Group, Inc.
PPG Industries, Inc.
PPL Corp.
Praxair, Inc.
Precision Castparts Corp.
Principal Financial Group, Inc.
Procter & Gamble Co.
Progress Energy, Inc.
Progressive Corp.
Prudential Financial, Inc.
Public Service Enterprise Group, Inc.
Pulte Homes, Inc.
QLogic Corp.
Qualcomm, Inc.
Quest Diagnostics
Questar Corp.
Qwest Communications International, Inc.
Range Resources Corp.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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$
31,815
12,147
15,298
38,844
27,630
27,420
13,294
203,574
16,730
17,616
17,238
22,372
259,325
7,125
191,427
11,319
18,338
56,715
19,620
20,783
53,950
38,013
27,750
327,106
11,808
33,408
54,450
35,424
22,253
14,210
129,329
17,487
25,920
22,968
14,061
800
1,950
300
1,400
600
600
600
700
1,050
200
1,400
950
800
950
2,250
2,270
300
1,000
950
200
2,250
300
200
300
800
700
1,850
950
1,850
900
1,850
5,600
300
750
1,150
1,750
900
950
200
100
750
600
ING
RussellTM
@
@
@
@
@
@
@
@
@
@
@
@
Raytheon Co.
Regions Financial Corp.
Reinsurance Group of America, Inc.
Republic Services, Inc.
Reynolds American, Inc.
Rockwell Collins, Inc.
Ross Stores, Inc.
Royal Caribbean Cruises Ltd.
RPM International, Inc.
Ryder System, Inc.
Safeway, Inc.
SAIC, Inc.
Sandisk Corp.
SandRidge Energy, Inc.
Sara Lee Corp.
Schlumberger Ltd.
Scripps Networks Interactive - Class A
Seagate Technology, Inc.
Sealed Air Corp.
Sempra Energy
Service Corp. International
Shaw Group, Inc.
Sherwin-Williams Co.
Sigma-Aldrich Corp.
Smith International, Inc.
Sonoco Products Co.
Southern Co.
Southern Copper Corp.
Southwest Airlines Co.
Southwestern Energy Co.
Spectra Energy Corp.
Sprint Nextel Corp.
St. Joe Co.
St. Jude Medical, Inc.
Staples, Inc.
Starbucks Corp.
State Street Corp.
Steel Dynamics, Inc.
Stericycle, Inc.
Strayer Education, Inc.
Stryker Corp.
Sunoco, Inc.
Global Large Cap Index 75% Portfolio
45,696
15,308
15,756
40,628
32,388
37,554
32,082
23,093
22,407
7,752
34,804
16,815
27,704
7,315
31,343
144,054
13,305
18,260
20,026
9,980
20,655
10,326
13,536
16,098
34,256
21,553
61,346
30,087
24,457
36,648
41,681
21,280
9,705
30,788
26,899
42,473
40,626
16,597
10,900
24,352
42,915
17,826
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
United States (continued)
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750
950
1,850
1,650
1,200
600
1,600
950
600
950
2,600
900
896
2,373
750
700
300
200
750
1,200
600
300
900
1,530
200
1,570
2,300
400
1,450
600
3,230
1,450
887
200
350
700
5,300
600
200
1,150
1,000
200
300
1,850
3,990
3,820
200
850
1,200
1,450
1,100
@
@
@
@
@
@
@
@
@
@
@
@
@
@
SunTrust Bank
Supervalu, Inc.
Symantec Corp.
Synovus Financial Corp.
Sysco Corp.
T. Rowe Price Group, Inc.
Target Corp.
TCF Financial Corp.
Terex Corp.
Tesoro Corp.
Texas Instruments, Inc.
Thermo Fisher Scientific, Inc.
Time Warner Cable, Inc.
Time Warner, Inc.
TJX Cos., Inc.
Toll Brothers, Inc.
Torchmark Corp.
Transatlantic Holdings, Inc.
Transocean Ltd.
Travelers Cos., Inc.
Trinity Industries, Inc.
Ultra Petroleum Corp.
Union Pacific Corp.
United Parcel Service, Inc. - Class B
United States Steel Corp.
United Technologies Corp.
UnitedHealth Group, Inc.
Universal Health Services, Inc.
UnumProvident Corp.
Urban Outfitters, Inc.
US Bancorp.
Valero Energy Corp.
Valley National Bancorp.
Varian Medical Systems, Inc.
Varian Semiconductor Equipment Associates, Inc.
VeriSign, Inc.
Verizon Communications, Inc.
Vertex Pharmaceuticals, Inc.
VF Corp.
Viacom - Class B
Visa, Inc.
Vulcan Materials Co.
WABCO Holdings, Inc.
Walgreen Co.
Wal-Mart Stores, Inc.
Walt Disney Co.
Walter Industries, Inc.
Washington Federal, Inc.
Waste Management, Inc.
Weatherford International Ltd.
WellPoint, Inc.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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$
20,093
15,846
31,302
5,429
35,400
32,958
84,160
15,143
13,626
13,205
63,622
46,296
47,766
74,204
31,890
14,560
16,053
10,560
64,785
64,728
11,976
13,989
65,970
98,547
12,704
115,568
75,141
14,036
35,917
22,818
83,592
28,565
13,633
11,066
11,592
18,207
164,406
24,522
16,030
39,537
91,030
9,448
8,976
68,617
221,844
133,356
18,454
17,272
41,316
22,997
70,818
8,616
500
1,450
900
1,750
750
600
200
950
1,650
4,280
950
1,200
2,300
900
750
@
@
@
@
Wells Fargo & Co.
Western Digital Corp.
Western Union Co.
Weyerhaeuser Co.
Williams Cos., Inc.
Willis Group Holdings Ltd.
Wisconsin Energy Corp.
WW Grainger, Inc.
Wyndham Worldwide Corp.
Xcel Energy, Inc.
Xerox Corp.
Xilinx, Inc.
XTO Energy, Inc.
Yahoo!, Inc.
Yum! Brands, Inc.
Zimmer Holdings, Inc.
268,130
19,495
24,592
40,743
40,425
23,468
29,646
21,624
24,444
34,980
41,730
24,225
56,616
38,019
34,497
44,400
22,877,386
Total Common Stock
(Cost $46,475,295)
52,175,258
REAL ESTATE INVESTMENT TRUSTS: 0.8%
10,596
10,968
4,476
Australia: 0.2%
CFS Retail Property Trust
Stockland
Westfield Group
18,209
40,067
49,460
107,736
ING
RussellTM
Global Large Cap Index 75% Portfolio
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
32
156
France: 0.0%
Mercialys
Unibail
$
1,149
31,582
32,731
11,241
Hong Kong: 0.0%
Link Real Estate Investment Trust
27,698
27,698
39
Netherlands: 0.0%
Wereldhave NV
3,741
3,741
4,161
1,005
2,408
United Kingdom: 0.1%
British Land Co. PLC
Land Securities Group PLC
Liberty International PLC
30,330
10,334
18,365
59,029
1,350
United States: 0.5%
Annaly Capital Management, Inc.
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23,193
720
103
200
300
300
850
750
100
200
600
200
2,250
300
300
300
200
314
740
300
205
600
Apartment Investment & Management Co.
AvalonBay Communities, Inc.
Boston Properties, Inc.
BRE Properties, Inc.
Camden Property Trust
Douglas Emmett, Inc.
Equity Residential
Essex Property Trust, Inc.
Federal Realty Investment Trust
HCP, Inc.
Health Care Real Estate Investment Trust, Inc.
HRPT Properties Trust
Liberty Property Trust
Mack-Cali Realty Corp.
Plum Creek Timber Co., Inc.
Public Storage, Inc.
Simon Property Group, Inc.
UDR, Inc.
Ventas, Inc.
Vornado Realty Trust
Weingarten Realty Investors
13,255
8,894
15,088
10,725
12,489
13,065
29,363
8,995
14,562
19,800
9,046
17,505
10,182
10,575
11,673
18,398
26,345
13,054
14,244
15,519
12,936
328,906
Total Real Estate Investment Trusts
(Cost $573,566)
559,841
EXCHANGE-TRADED FUNDS: 25.5%
Developed Markets: 0.2%
iShares MSCI EAFE Index Fund
2,300
128,800
128,800
Emerging Markets: 0.1%
iShares MSCI Emerging Markets Index Fund
1,000
42,120
42,120
United States: 25.2%
iShares Barclays Aggregate Bond Fund
iShares S&P 500 Index Fund
169,300
1,400
17,641,060
164,276
17,805,336
Total Exchange-Traded Funds
(Cost $17,517,232)
17,976,256
PREFERRED STOCK: 0.0%
256
@
Australia: 0.0%
Insurance Australia Group
23,421
Total Preferred Stock
(Cost $19,410)
23,421
RIGHTS: 0.0%
447
Germany: 0.0%
Volkswagen AG
278
Total Rights
(Cost $-)
278
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
WARRANTS: 0.0%
Italy: 0.0%
Unione di Banche Italiane SCPA
1,047
52
52
ING
RussellTM
Global Large Cap Index 75% Portfolio
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
Singapore: 0.0%
Golden Agri-Resources Ltd.
4,224
$
377
377
Total Warrants
(Cost $-)
@
ADR
I
**
X
*
429
Total Investments in Securities
(Cost $64,585,503)*
Other Assets and Liabilities - Net
100.3%
(0.3)
$
70,735,483
(187,394)
Net Assets
100.0%
$
70,548,089
$
8,179,399
(3,073,161)
$
5,106,238
Non-income producing security
American Depositary Receipt
Illiquid Security
Investment in affiliate
Fair value determined by ING Funds Valuation Committee appointed by the
Funds’ Board of Directors/Trustees.
Cost for federal income tax purposes is $65,629,245.
Net unrealized appreciation consists of:
Gross Unrealized Appreciation
Gross Unrealized Depreciation
Net Unrealized Appreciation
ING
RussellTM
Global Large Cap Index 75% Portfolio
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Percentage of
Industry
Advertising
Aerospace/Defense
Agriculture
Airlines
Apartments
Apparel
Auto Manufacturers
Net Assets
0.0%
1.1
1.0
0.2
0.1
0.3
1.1
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Auto Parts & Equipment
Banks
Beverages
Biotechnology
Building Materials
Chemicals
Coal
Commercial Services
Computers
Cosmetics/Personal Care
Distribution/Wholesale
Diversified
Diversified Financial Services
Electric
Electrical Components & Equipment
Electronics
Energy - Alternate Sources
Engineering & Construction
Entertainment
Environmental Control
Food
Food Service
Forest Products & Paper
Forestry
Gas
Hand/Machine Tools
Health Care
Healthcare - Products
Healthcare - Services
Holding Companies - Diversified
Home Builders
Home Furnishings
Household Products/Wares
Housewares
Insurance
Internet
Investment Companies
Iron/Steel
Leisure Time
Lodging
Machinery - Construction & Mining
Machinery - Diversified
Media
Metal Fabricate/Hardware
Mining
Miscellaneous Manufacturing
Mortgage
Office Property
Office/Business Equipment
Oil & Gas
Oil & Gas Services
0.3
8.8
1.4
0.6
0.4
1.9
0.4
1.2
2.2
0.9
0.6
0.2
1.5
2.7
0.4
1.0
0.0
0.7
0.1
0.2
2.6
0.1
0.2
0.0
0.4
0.1
0.1
1.6
0.7
0.5
0.1
0.2
0.4
0.0
3.2
0.9
0.0
1.0
0.2
0.2
0.3
0.6
1.6
0.2
2.8
1.8
0.0
0.1
0.3
6.8
0.8
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Packaging & Containers
Pharmaceuticals
Pipelines
Real Estate
Regional Malls
Retail
Savings & Loans
Semiconductors
Shipbuilding
Shopping Centers
Software
Storage
Telecommunications
Textiles
Toys/Games/Hobbies
Transportation
Water
Other Long-Term Investments
Other Assets and Liabilities - Net
Net Assets
ING
RussellTM
0.2
3.6
0.3
0.6
0.1
3.0
0.1
1.8
0.1
0.2
1.5
0.0
4.5
0.0
0.2
1.3
0.2
25.5
(0.3)
100.0%
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Global Large Cap Index 75% Portfolio
Fair Value Measurements
The following is a summary of the fair valuations according to the inputs used as of March 31, 2010 in valuing the Portfolio’s assets and
liabilities:
Asset Table
Investments, at value
Common Stock
Australia
Austria
Barbados
Belgium
Bermuda
Brazil
Canada
Chile
China
Czech Republic
Denmark
Finland
$
Quoted Prices
Significant Other
Significant
in Active Markets
Observable
Unobservable
Fair Value
for Identical Investments
Inputs#
Inputs
at
(Level 1)
(Level 2)
(Level 3)
3/31/2010
—
—
36,798
—
158,671
566,050
2,398,230
15,983
4,206
—
—
—
$
1,831,375
122,726
—
220,718
23,402
333,457
—
—
793,371
16,063
237,450
354,674
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
$
—
—
—
—
—
—
—
—
—
—
—
—
$
1,831,375
122,726
36,798
220,718
182,073
899,507
2,398,230
15,983
797,577
16,063
237,450
354,674
France
Germany
Greece
Guernsey
Hong Kong
Hungary
Indonesia
Ireland
Israel
Italy
Japan
Luxembourg
Malaysia
Mauritius
Mexico
Morocco
Netherlands
Norway
Philippines
Poland
Portugal
Russia
Singapore
South Africa
South Korea
Spain
Sweden
Switzerland
Taiwan
Thailand
Turkey
United Kingdom
United States
Total Common Stock
Real Estate Investment Trusts
Exchange-Traded Funds
Preferred Stock
Rights
Warrants
Total Investments, at value
$
—
24,121
—
28,605
44,510
—
—
126,217
21,036
—
36,771
17,830
—
—
277,729
—
16,282
—
—
—
—
159,049
—
—
153,753
—
—
61,071
—
—
—
12,285
22,877,386
2,217,854
1,654,117
65,027
—
721,282
71,352
106,193
60,882
109,775
713,626
4,037,502
122,134
80,839
21,381
—
10,840
967,819
194,861
48,668
122,803
30,353
29,717
312,181
528,991
679,219
837,916
642,736
1,744,471
655,816
93,431
145,446
4,178,207
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
2,217,854
1,678,238
65,027
28,605
765,792
71,352
106,193
187,099
130,811
713,626
4,074,273
139,964
80,839
21,381
277,729
10,840
984,101
194,861
48,668
122,803
30,353
188,766
312,181
528,991
832,972
837,916
642,736
1,805,542
655,816
93,431
145,446
4,190,492
22,877,386
27,036,583
25,138,675
—
52,175,258
328,906
17,976,256
—
—
377
230,935
—
23,421
278
52
—
—
—
—
—
559,841
17,976,256
23,421
278
429
45,342,122
$
25,393,361
$
—
$
70,735,483
# The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have
occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of
its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a
significant portion of the Portfolio’s investments are categorized as Level 2 investments.
ING
RussellTM
Large Cap Growth Index Portfolio
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited)
Shares
Value
COMMON STOCK: 99.2%
Advertising: 0.3%
Omnicom Group
28,300
$
1,098,323
1,098,323
Aerospace/Defense: 2.6%
Boeing Co.
General Dynamics Corp.
Lockheed Martin Corp.
Northrop Grumman Corp.
Raytheon Co.
United Technologies Corp.
5,310
2,990
28,720
3,480
27,520
69,560
385,559
230,828
2,390,078
228,184
1,571,942
5,120,312
9,926,903
Agriculture: 3.7%
Altria Group, Inc.
Archer-Daniels-Midland Co.
Philip Morris International, Inc.
187,230
32,640
177,580
3,841,960
943,296
9,262,573
14,047,829
Apparel: 0.6%
Nike, Inc.
32,730
2,405,655
2,405,655
30,420
L
Auto Manufacturers: 0.3%
Paccar, Inc.
1,318,403
1,318,403
Auto Parts & Equipment: 0.3%
Johnson Controls, Inc.
33,250
1,096,918
1,096,918
22,210
11,490
2,800
28,580
21,920
23,850
63,730
L
Banks: 1.8%
Bank of New York Mellon Corp.
Capital One Financial Corp.
Goldman Sachs Group, Inc.
Morgan Stanley
Northern Trust Corp.
State Street Corp.
Wells Fargo & Co.
685,845
475,801
477,764
837,108
1,211,299
1,076,589
1,983,278
6,747,684
Beverages: 4.8%
Coca-Cola Co.
PepsiCo, Inc.
164,730
144,980
9,060,150
9,591,877
18,652,027
91,640
26,170
41,620
24,430
82,180
@
@
@
@
@
Biotechnology: 3.8%
Amgen, Inc.
Biogen Idec, Inc.
Celgene Corp.
Genzyme Corp.
Gilead Sciences, Inc.
5,476,406
1,501,111
2,578,775
1,266,207
3,737,546
14,560,045
Chemicals: 2.1%
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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6,640
27,140
49,285
14,290
27,950
Air Products & Chemicals, Inc.
EI Du Pont de Nemours & Co.
Monsanto Co.
Mosaic Co.
Praxair, Inc.
491,028
1,010,694
3,519,935
868,403
2,319,850
8,209,910
Coal: 0.3%
Peabody Energy Corp.
24,240
1,107,768
1,107,768
45,280
7,715
40,675
63,540
L
Commercial Services: 2.3%
Automatic Data Processing, Inc.
Mastercard, Inc.
Visa, Inc.
Western Union Co.
2,013,602
1,959,610
3,702,645
1,077,638
8,753,495
80,775
155,080
18,920
167,530
119,600
@
@
@
Computers: 11.9%
Apple, Inc.
Dell, Inc.
EMC Corp.
Hewlett-Packard Co.
International Business Machines Corp.
18,976,471
2,327,751
341,317
8,904,220
15,338,700
45,888,459
45,240
172,840
Cosmetics/Personal Care: 3.8%
Colgate-Palmolive Co.
Procter & Gamble Co.
3,857,162
10,935,587
14,792,749
16,854
920
ING
RussellTM
Diversified Financial Services: 0.9%
American Express Co.
Blackrock, Inc.
Large Cap Growth Index Portfolio
695,396
200,339
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
85,840
377
6,100
Diversified Financial Services (continued)
Charles Schwab Corp.
CME Group, Inc.
Franklin Resources, Inc.
$
1,604,350
119,173
676,490
3,295,748
5,120
4,830
Electric: 0.1%
Exelon Corp.
FPL Group, Inc.
224,307
233,434
457,741
67,980
Electrical Components & Equipment: 0.9%
Emerson Electric Co.
3,422,113
3,422,113
Electronics: 0.0%
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
3,090
@
Thermo Fisher Scientific, Inc.
158,950
158,950
4,552
@, L
Energy - Alternate Sources: 0.1%
First Solar, Inc.
558,303
558,303
Environmental Control: 0.4%
Waste Management, Inc.
40,080
1,379,954
1,379,954
Food: 1.4%
General Mills, Inc.
Kellogg Co.
Kraft Foods, Inc.
Kroger Co.
Sysco Corp.
12,210
23,080
21,700
49,630
53,400
864,346
1,233,164
656,208
1,074,986
1,575,300
5,404,004
54,850
21,800
48,570
193,120
101,290
31,380
30,710
@
S
@
Healthcare - Products: 6.6%
Baxter International, Inc.
Becton Dickinson & Co.
Boston Scientific Corp.
Johnson & Johnson
Medtronic, Inc.
St. Jude Medical, Inc.
Stryker Corp.
3,192,270
1,716,314
350,675
12,591,424
4,561,089
1,288,149
1,757,226
25,457,147
8,590
3,090
@
Healthcare - Services: 0.1%
Aetna, Inc.
WellPoint, Inc.
301,595
198,934
500,529
Household Products/Wares: 0.5%
Kimberly-Clark Corp.
32,640
2,052,403
2,052,403
Insurance: 0.9%
Aflac, Inc.
Prudential Financial, Inc.
42,190
21,730
2,290,495
1,314,665
3,605,160
29,771
23,561
21,727
74,350
100,564
@
@
@
@
@
Internet: 5.2%
Amazon.com, Inc.
eBay, Inc.
Google, Inc. - Class A
Symantec Corp.
Yahoo!, Inc.
4,040,818
634,969
12,319,426
1,258,002
1,662,323
19,915,538
18,060
Leisure Time: 0.2%
Carnival Corp.
702,173
702,173
27,230
Machinery - Construction & Mining: 0.4%
Caterpillar, Inc.
1,711,406
1,711,406
Machinery - Diversified: 0.2%
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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9,560
568,438
Deere & Co.
568,438
19,500
41,620
@
Media: 0.5%
Comcast Corp. – Class A
DirecTV
366,990
1,407,172
1,774,162
Mining: 1.3%
Alcoa, Inc.
Freeport-McMoRan Copper & Gold, Inc.
Newmont Mining Corp.
Southern Copper Corp.
40,850
22,590
43,360
11,680
581,704
1,887,169
2,208,325
369,906
5,047,104
Miscellaneous Manufacturing: 2.5%
3M Co.
Danaher Corp.
Honeywell International, Inc.
62,960
14,550
67,300
5,261,567
1,162,691
3,046,671
9,470,929
114,010
31,127
@
Oil & Gas: 2.3%
ExxonMobil Corp.
Southwestern Energy Co.
7,636,390
1,267,491
8,903,881
ING
RussellTM
Large Cap Growth Index Portfolio
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
Oil & Gas Services: 0.8%
Schlumberger Ltd.
49,050
$
3,112,713
3,112,713
139,970
27,649
85,860
48,190
24,920
12,070
43,640
106,890
@
@
Pharmaceuticals: 6.1%
Abbott Laboratories
Allergan, Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Express Scripts, Inc.
McKesson Corp.
Medco Health Solutions, Inc.
Merck & Co., Inc.
7,373,620
1,806,033
2,292,462
1,745,442
2,535,859
793,240
2,817,398
3,992,342
23,356,396
30,510
39,250
40,170
38,630
10,430
25,880
41,900
L
@, L
Retail: 9.9%
Best Buy Co., Inc.
Costco Wholesale Corp.
CVS Caremark Corp.
Gap, Inc.
Home Depot, Inc.
Kohl’s Corp.
Lowe’s Cos., Inc.
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1,297,895
2,343,618
1,468,615
892,739
337,411
1,417,706
1,015,656
99,980
64,590
66,574
68,180
89,900
200,070
41,810
L
@
McDonald’s Corp.
Staples, Inc.
Starbucks Corp.
Target Corp.
Walgreen Co.
Wal-Mart Stores, Inc.
Yum! Brands, Inc.
6,670,666
1,510,760
1,615,751
3,586,268
3,334,391
11,123,892
1,602,577
38,217,945
Semiconductors: 2.9%
Broadcom Corp.
Intel Corp.
Texas Instruments, Inc.
44,420
311,790
115,390
1,473,856
6,940,445
2,823,593
11,237,894
29,350
47,410
697,700
346,080
4,661
@
@
Software: 8.2%
Activision Blizzard, Inc.
Adobe Systems, Inc.
Microsoft Corp.
Oracle Corp.
VMware, Inc.
353,961
1,676,892
20,421,679
8,890,795
248,431
31,591,758
35,920
522,223
120,220
47,410
13,330
149,757
@, L
@
L
@
@
Telecommunications: 6.6%
American Tower Corp.
Cisco Systems, Inc.
Corning, Inc.
Juniper Networks, Inc.
Motorola, Inc.
Qualcomm, Inc.
1,530,551
13,593,462
2,429,646
1,454,539
93,577
6,288,297
25,390,072
4,350
24,240
62,670
Transportation: 1.6%
Norfolk Southern Corp.
Union Pacific Corp.
United Parcel Service, Inc. - Class B
243,122
1,776,792
4,036,575
6,056,489
Total Common Stock
(Cost $306,358,117)
381,955,118
REAL ESTATE INVESTMENT TRUSTS: 0.2%
9,206
Regional Malls: 0.2%
Simon Property Group, Inc.
772,383
Total Real Estate Investment Trusts
(Cost $432,771)
772,383
Total Long-Term Investments
(Cost $306,790,888)
382,727,501
SHORT-TERM INVESTMENTS: 1.1%
1,908,000
Affiliated Mutual Fund: 0.5%
ING Institutional Prime Money Market Fund - Class I
Total Mutual Fund
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
1,908,000
1,303,186
1,230,638
ING
RussellTM
I
(Cost $1,908,000)
1,908,000
Securities Lending Collateral(cc): 0.6%
Bank of New York Mellon Corp. Institutional Cash Reserves, Series A (1)
Bank of New York Mellon Corp. Institutional Cash Reserves, Series B (1)(2)
1,303,186
984,510
Total Securities Lending Collateral
(Cost $2,533,824)
2,287,696
Total Short-Term Investments
(Cost $4,441,824)
4,195,696
Large Cap Growth Index Portfolio
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
@
I
cc
(1)
(2)
S
L
*
Total Investments in Securities
(Cost $311,232,712)*
Other Assets and Liabilities - Net
100.5%
(0.5)
$
386,923,197
(2,050,651)
Net Assets
100.0%
$
384,872,546
$
80,368,879
(4,817,043)
$
75,551,836
Non-income producing security
Illiquid Security
Securities purchased with cash collateral for securities loaned.
Collateral received from brokers for securites lending was invested in these
short-term investments.
On September 12, 2008, BNY established a separate sleeve of the
Institutional Cash Reserves Fund (Series B) to hold certain Lehman Brothers
defaulted debt obligations. The Fund’s position in Series B is being fair
valued daily.
All or a portion of this security has been identified by the Fund to cover
future collateral requirements for applicable futures, options, swaps, foreign
currency contracts and/or when-issued or delayed-delivery securities.
Loaned security, a portion or all of the security is on loan at March 31, 2010.
Cost for federal income tax purposes is $311,371,361.
Net unrealized appreciation consists of:
Gross Unrealized Appreciation
Gross Unrealized Depreciation
Net Unrealized Appreciation
ING
RussellTM
Large Cap Growth Index Portfolio
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Fair Value Measurements
The following is a summary of the fair valuations according to the inputs used as of March 31, 2010 in valuing the Portfolio’s assets and
liabilities:
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
Quoted Prices
Significant Other
Significant
in Active Markets
Observable
Unobservable
Fair Value
for Identical Investments
Inputs
Inputs
at
(Level 1)
(Level 2)
(Level 3)
3/31/2010
Asset Table
Investments, at value
Common Stock*
Real Estate Investment Trusts
Short-Term Investments
$
381,955,118
772,383
3,211,186
$
—
—
—
$
—
—
984,510
$
381,955,118
772,383
4,195,696
Total Investments, at value
$
385,938,687
$
—
$
984,510
$
386,923,197
Other Financial Instruments+:
Futures
136,873
$
Total Assets
386,075,560
—
$
136,873
—
$
—
984,510
$
387,060,070
The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio’s assets and liabilities
during the period ended March 31, 2010:
Beginning
Accrued
Total
Total Unrealized
Transfers
Transfers
Ending
Balance
Discounts/
Realized
Appreciation/
Into
Out of
Balance
(Premiums)
Gain/(Loss)
(Depreciation)
Level 3
Level 3
3/31/2010
12/31/2009
Purchases
Sales
Asset Table
Investments, at value
Short-Term Investments
$
984,510
$
—
$
—
$
—
$
—
$
—
$
—
$
—
$
984,510
Total Investments, at value
$
984,510
$
—
$
—
$
—
$
—
$
—
$
—
$
—
$
984,510
As of March 31, 2010, total change in unrealized gain (loss) on Level 3 securities still held at period end and included in the change in net
assets was $0.
+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency
contracts, futures, swaps, and written options. Forward foreign currency contracts and futures are reported at their unrealized gain/loss at
measurement date which represents the amount due to/from the Portfolio. Swaps and written options are reported at their market value at
measurement date.
Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any security or
derivative instrument where a change in the pricing level occurred from the beginning to the end of the period.
* For further breakdown of Common Stock by Industry type, please refer to the Portfolio of Investments.
ING
RussellTM
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Large Cap Growth Index Portfolio
ING Russell™™ Large Cap Growth Index Portfolio Open Futures Contracts on March 31, 2010:
Unrealized
Number
Contract Description
of Contracts
Appreciation/
Expiration Date
Long Contracts
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
Market Value
(Depreciation)
S&P 500 E-Mini
47
06/18/10
$
2,738,220
$
136,873
$
2,738,220
$
136,873
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited)
ING RussellTM Large Cap Index Portfolio
Shares
Value
COMMON STOCK: 96.3%
28,550
Advertising: 0.1%
Omnicom Group
66,600
31,650
29,150
29,650
36,150
76,700
Aerospace/Defense: 2.5%
Boeing Co.
General Dynamics Corp.
Lockheed Martin Corp.
Northrop Grumman Corp.
Raytheon Co.
United Technologies Corp.
$
1,108,026
1,108,026
4,835,826
2,443,380
2,425,863
1,944,151
2,064,888
5,645,887
19,359,995
Agriculture: 2.0%
Altria Group, Inc.
Archer-Daniels-Midland Co.
Philip Morris International, Inc.
Reynolds American, Inc.
189,550
58,850
179,800
15,450
3,889,566
1,700,765
9,378,368
833,991
15,802,690
Apparel: 0.3%
Nike, Inc.
33,200
2,440,200
2,440,200
286,400
33,350
@
Auto Manufacturers: 0.6%
Ford Motor Co.
Paccar, Inc.
3,600,048
1,445,389
5,045,437
Auto Parts & Equipment: 0.3%
Johnson Controls, Inc.
61,500
2,028,885
2,028,885
906,343
109,550
63,000
41,400
1,719,950
46,100
344,585
124,550
22,100
44,950
L
@, S
Banks: 10.5%
Bank of America Corp.
Bank of New York Mellon Corp.
BB&T Corp.
Capital One Financial Corp.
Citigroup, Inc.
Goldman Sachs Group, Inc.
JPMorgan Chase & Co.
Morgan Stanley
Northern Trust Corp.
PNC Financial Services Group, Inc.
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16,178,223
3,382,904
2,040,570
1,714,374
6,965,798
7,866,043
15,420,179
3,648,070
1,221,246
2,683,515
45,250
173,900
473,271
State Street Corp.
US Bancorp.
Wells Fargo & Co.
2,042,585
4,500,532
14,728,194
82,392,233
Beverages: 2.7%
Coca-Cola Co.
PepsiCo, Inc.
212,250
146,300
11,673,750
9,679,208
21,352,958
92,800
26,400
42,250
24,750
83,100
@
@
@
@
@
Biotechnology: 1.9%
Amgen, Inc.
Biogen Idec, Inc.
Celgene Corp.
Genzyme Corp.
Gilead Sciences, Inc.
5,545,728
1,514,304
2,617,810
1,282,793
3,779,388
14,740,023
Chemicals: 1.8%
Air Products & Chemicals, Inc.
Dow Chemical Co.
EI Du Pont de Nemours & Co.
Monsanto Co.
Mosaic Co.
Praxair, Inc.
19,300
101,900
82,850
50,000
14,500
28,200
1,427,235
3,013,183
3,085,334
3,571,000
881,165
2,340,600
14,318,517
Coal: 0.1%
Peabody Energy Corp.
24,550
1,121,935
1,121,935
Commercial Services: 1.1%
Automatic Data Processing, Inc.
Mastercard, Inc.
Visa, Inc.
Western Union Co.
46,000
7,850
41,150
64,300
2,045,620
1,993,900
3,745,885
1,090,528
8,875,933
81,700
157,100
184,550
219,200
121,150
@
@
@
Computers: 6.6%
Apple, Inc.
Dell, Inc.
EMC Corp.
Hewlett-Packard Co.
International Business Machines Corp.
19,193,781
2,358,071
3,329,282
11,650,480
15,537,488
52,069,102
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING RussellTM Large Cap Index Portfolio
Shares
45,850
267,232
Value
Cosmetics/Personal Care: 2.6%
Colgate-Palmolive Co.
Procter & Gamble Co.
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Please Consider the Environment Before Printing This Document
$
3,909,171
16,907,769
20,816,940
93,000
2,950
87,000
6,100
13,850
Diversified Financial Services: 1.2%
American Express Co.
Blackrock, Inc.
Charles Schwab Corp.
CME Group, Inc.
Franklin Resources, Inc.
43,700
54,150
117,950
18,000
60,400
28,000
37,650
33,800
46,350
71,750
Electric: 2.3%
American Electric Power Co., Inc.
Dominion Resources, Inc.
Duke Energy Corp.
Entergy Corp.
Exelon Corp.
FirstEnergy Corp.
FPL Group, Inc.
Pacific Gas & Electric Co.
Public Service Enterprise Group, Inc.
Southern Co.
3,837,180
642,392
1,626,030
1,928,271
1,535,965
9,569,838
1,493,666
2,226,107
1,924,944
1,464,300
2,646,124
1,094,520
1,819,625
1,433,796
1,368,252
2,379,230
17,850,564
68,900
Electrical Components & Equipment: 0.4%
Emerson Electric Co.
38,300
Electronics: 0.2%
Thermo Fisher Scientific, Inc.
3,468,426
3,468,426
@
1,970,152
1,970,152
4,700
@, L
Energy - Alternate Sources: 0.1%
First Solar, Inc.
576,455
576,455
Environmental Control: 0.2%
Waste Management, Inc.
45,100
1,552,793
1,552,793
30,100
23,300
159,150
59,850
54,050
L
Food: 1.4%
General Mills, Inc.
Kellogg Co.
Kraft Foods, Inc.
Kroger Co.
Sysco Corp.
2,130,779
1,244,919
4,812,696
1,296,351
1,594,475
11,079,220
55,400
22,000
138,050
16,575
252,600
102,600
31,700
31,050
19,750
@, L
@
@
@
Healthcare - Products: 4.0%
Baxter International, Inc.
Becton Dickinson & Co.
Boston Scientific Corp.
CareFusion Corp.
Johnson & Johnson
Medtronic, Inc.
St. Jude Medical, Inc.
Stryker Corp.
Zimmer Holdings, Inc.
3,224,280
1,732,060
996,721
438,077
16,469,520
4,620,078
1,301,285
1,776,681
1,169,200
31,727,902
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40,950
109,050
42,100
@
Healthcare - Services: 1.0%
Aetna, Inc.
UnitedHealth Group, Inc.
WellPoint, Inc.
1,437,755
3,562,664
2,710,398
7,710,817
Household Products/Wares: 0.3%
Kimberly-Clark Corp.
38,000
2,389,440
2,389,440
Insurance: 1.8%
Aflac, Inc.
Allstate Corp.
Chubb Corp.
Loews Corp.
Metlife, Inc.
Prudential Financial, Inc.
Travelers Cos., Inc.
42,900
49,200
32,250
29,967
52,900
42,250
50,000
2,329,041
1,589,652
1,672,163
1,117,170
2,292,686
2,556,125
2,697,000
14,253,837
30,100
9,925
102,500
22,000
75,200
108,850
@, L
@
@
@
@
@, L
Internet: 2.9%
Amazon.com, Inc.
AOL, Inc.
eBay, Inc.
Google, Inc. - Class A
Symantec Corp.
Yahoo!, Inc.
4,085,473
250,904
2,762,375
12,474,220
1,272,384
1,799,291
22,644,647
Iron/Steel: 0.2%
Nucor Corp.
28,800
1,306,944
1,306,944
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING RussellTM Large Cap Index Portfolio
Shares
Value
Leisure Time: 0.2%
Carnival Corp.
40,200
$
1,562,976
1,562,976
55,150
Machinery - Construction & Mining: 0.4%
Caterpillar, Inc.
38,700
Machinery - Diversified: 0.3%
Deere & Co.
3,466,178
3,466,178
2,301,102
2,301,102
263,450
89,657
4,800
208,650
@
@
Media: 3.1%
Comcast Corp. — Class A
DirecTV
Liberty Media Corp. - Starz
News Corp. - Class A
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
4,958,129
3,031,303
262,464
3,006,647
32,293
109,683
49,750
173,500
@
Time Warner Cable, Inc.
Time Warner, Inc.
Viacom - Class B
Walt Disney Co.
1,721,540
3,429,787
1,710,405
6,056,885
24,177,160
Mining: 0.9%
Alcoa, Inc.
Freeport-McMoRan Copper & Gold, Inc.
Newmont Mining Corp.
Southern Copper Corp.
89,350
37,750
43,850
16,200
1,272,344
3,153,635
2,233,281
513,054
7,172,314
Miscellaneous Manufacturing: 3.8%
3M Co.
Danaher Corp.
General Electric Co.
Honeywell International, Inc.
Illinois Tool Works, Inc.
63,600
23,700
970,650
68,200
41,150
5,315,052
1,893,867
17,665,815
3,087,414
1,948,864
29,911,012
45,800
30,750
57,400
183,794
135,800
40,700
22,950
447,300
26,550
64,950
74,350
31,500
51,600
53,100
S
@
Oil & Gas: 9.9%
Anadarko Petroleum Corp.
Apache Corp.
Chesapeake Energy Corp.
Chevron Corp.
ConocoPhillips
Devon Energy Corp.
EOG Resources, Inc.
ExxonMobil Corp.
Hess Corp.
Marathon Oil Corp.
Occidental Petroleum Corp.
Southwestern Energy Co.
Valero Energy Corp.
XTO Energy, Inc.
3,335,614
3,121,125
1,356,936
13,937,099
6,948,886
2,622,301
2,132,973
29,960,154
1,660,703
2,055,018
6,285,549
1,282,680
1,016,520
2,505,258
78,220,816
Oil & Gas Services: 1.6%
Baker Hughes, Inc.
Halliburton Co.
National Oilwell Varco, Inc.
Schlumberger Ltd.
28,400
82,250
38,350
109,650
1,330,256
2,478,193
1,556,243
6,958,389
12,323,081
141,600
27,900
156,800
32,950
92,900
25,200
24,950
L
@
Pharmaceuticals: 6.1%
Abbott Laboratories
Allergan, Inc.
Bristol-Myers Squibb Co.
Cardinal Health, Inc.
Eli Lilly & Co.
Express Scripts, Inc.
McKesson Corp.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
7,459,488
1,822,428
4,186,560
1,187,189
3,364,838
2,564,352
1,639,714
44,150
279,585
738,939
@
Medco Health Solutions, Inc.
Merck & Co., Inc.
Pfizer, Inc.
2,850,324
10,442,500
12,672,804
48,190,197
Pipelines: 0.2%
Williams Cos., Inc.
53,100
1,226,610
1,226,610
30,850
39,850
133,450
44,200
155,500
28,000
135,150
101,100
65,550
67,400
68,900
90,950
202,650
42,300
@
@
Retail: 6.2%
Best Buy Co., Inc.
Costco Wholesale Corp.
CVS Caremark Corp.
Gap, Inc.
Home Depot, Inc.
Kohl’s Corp.
Lowe’s Cos., Inc.
McDonald’s Corp.
Staples, Inc.
Starbucks Corp.
Target Corp.
Walgreen Co.
Wal-Mart Stores, Inc.
Yum! Brands, Inc.
1,312,359
2,379,444
4,878,932
1,021,462
5,030,425
1,533,840
3,276,036
6,745,392
1,533,215
1,635,798
3,624,140
3,373,336
11,267,340
1,621,359
49,233,078
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING RussellTM Large Cap Index Portfolio
Shares
Value
Semiconductors: 2.2%
Applied Materials, Inc.
Broadcom Corp.
Intel Corp.
Texas Instruments, Inc.
121,800
45,100
512,000
116,800
$
1,641,864
1,496,418
11,397,120
2,858,096
17,393,498
51,200
48,050
706,480
350,445
4,700
@
@, L
Software: 4.1%
Activision Blizzard, Inc.
Adobe Systems, Inc.
Microsoft Corp.
Oracle Corp.
VMware, Inc.
617,472
1,699,529
20,678,670
9,002,932
250,510
32,249,113
36,500
540,800
528,800
142,350
48,000
210,100
@
@
@
@
Telecommunications: 6.4%
American Tower Corp.
AT&T, Inc.
Cisco Systems, Inc.
Corning, Inc.
Juniper Networks, Inc.
Motorola, Inc.
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1,555,265
13,974,272
13,764,664
2,876,894
1,472,640
1,474,902
151,700
261,187
260,350
Qualcomm, Inc.
Sprint Nextel Corp.
Verizon Communications, Inc.
@
6,369,883
992,511
8,076,057
50,557,088
Transportation: 1.8%
CSX Corp.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
United Parcel Service, Inc. - Class B
35,850
28,550
33,700
46,250
63,350
1,824,765
2,666,570
1,883,493
3,390,125
4,080,374
13,845,327
Total Common Stock
(Cost $ 579,888,428)
759,403,459
REAL ESTATE INVESTMENT TRUSTS: 0.3%
22,062
Regional Malls: 0.3%
Simon Property Group, Inc.
1,851,002
Total Real Estate Investment Trusts
(Cost $ 1,107,267)
1,851,002
Total Long-Term Investments
(Cost $580,995,695)
761,254,461
SHORT-TERM INVESTMENTS: 3.2%
24,581,000
538,880
522,936
I
Affiliated Mutual Fund: 3.1%
ING Institutional Prime Money Market Fund - Class I
24,581,000
Total Mutual Fund
(Cost $24,581,000)
24,581,000
Securities Lending Collateral(cc): 0.1%
Bank of New York Mellon Corp. Institutional Cash Reserves, Series A (1)
Bank of New York Mellon Corp. Institutional Cash Reserves, Series B (1)(2)
538,880
418,349
Total Securities Lending Collateral
(Cost $1,061,816)
957,229
Total Short-Term Investments
(Cost $25,642,816)
Total Investments in Securities
(Cost $606,638,511) *
Other Assets and Liabilities - Net
Net Assets
@
I
cc
(1)
(2)
25,538,229
99.8%
0.2
$
786,792,690
1,637,888
100.0%
$
788,430,578
Non-income producing security
Illiquid Security
Securities purchased with cash collateral for securities loaned.
Collateral received from brokers for securites lending was invested in these
short-term investments.
On September 12, 2008, BNY established a separate sleeve of the
Institutional Cash Reserves Fund (Series B) to hold certain Lehman Brothers
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S
L
*
defaulted debt obligations. The Fund’s position in Series B is being fair
valued daily.
All or a portion of this security has been identified by the Fund to cover
future collateral requirements for applicable futures, options, swaps, foreign
currency contracts and/or when-issued or delayed-delivery securities.
Loaned security, a portion or all of the security is on loan at March 31, 2010.
Cost for federal income tax purposes is $651,174,185.
Net unrealized appreciation consists of:
Gross Unrealized Appreciation
Gross Unrealized Depreciation
Net Unrealized Appreciation
$
181,798,256
(46,179,751)
$
135,618,505
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING RussellTM Large Cap Index Portfolio
Fair Value Measurements
The following is a summary of the fair valuations according to the inputs used as of March 31, 2010 in valuing the Portfolio’s assets and
liabilities:
Quoted Prices
Significant Other
Significant
in Active Markets
Observable
Unobservable
Fair Value
for Identical Investments
Inputs
Inputs
at
(Level 1)
(Level 2)
(Level 3)
3/31/2010
Asset Table
Investments, at value
Common Stock*
Real Estate Investment Trusts
Short-Term Investments
$
759,403,459
1,851,002
25,119,880
$
—
—
—
$
—
—
418,349
$
759,403,459
1,851,002
25,538,229
Total Investments, at value
$
786,374,341
$
—
$
418,349
$
786,792,690
Other Financial Instruments+:
Futures
1,008,374
$
Total Assets
—
787,382,715
$
—
1,008,374
—
$
418,349
$
787,801,064
The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio’s assets and liabilities
during the period ended March 31, 2010:
Beginning
Accrued
Balance
12/31/2009
Purchases
Sales
Total Unrealized
Total
Transfers
Transfers
Ending
Discounts/
Realized
Appreciation/
Into
Out of
Balance
(Premiums)
Gain/(Loss)
(Depreciation)
Level 3
Level 3
3/31/2010
Asset Table
Investments, at value
Short-Term Investments
$
418,349
$
—
$
—
$
—
$
—
$
—
$
—
$
—
$
418,349
Total Investments, at value
$
418,349
$
—
$
—
$
—
$
—
$
—
$
—
$
—
$
418,349
As of March 31, 2010, total change in unrealized gain (loss) on Level 3 securities still held at period end and included in the change in net
assets was $0.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency
contracts, futures, swaps, and written options. Forward foreign currency contracts and futures are reported at their unrealized gain/loss at
measurement date which represents the amount due to/from the Portfolio. Swaps and written options are reported at their market value at
measurement date.
Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any security or
derivative instrument where a change in the pricing level occurred from the beginning to the end of the period.
* For further breakdown of Common Stock by Industry type, please refer to the Portfolio of Investments.
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING RussellTM Large Cap Index Portfolio
ING Russell™™ Large Cap Index Portfolio Open Futures Contracts on March 31, 2010:
Unrealized
Number of
Contract Description
Contracts
Long Contracts
S&P 500®
ING
RussellTM
Appreciation/
Expiration Date
96
Large Cap Value Index Portfolio
06/17/10
Market Value
(Depreciation)
$
27,964,800
$
1,008,374
$
27,964,800
$
1,008,374
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited)
Shares
Value
COMMON STOCK: 97.5%
Aerospace/Defense: 2.4%
Boeing Co.
General Dynamics Corp.
Northrop Grumman Corp.
Raytheon Co.
United Technologies Corp.
13,050
6,100
5,600
1,850
1,385
$
947,561
470,920
367,192
105,672
101,950
1,993,295
Agriculture: 0.4%
Archer-Daniels-Midland Co.
Reynolds American, Inc.
5,450
3,350
157,505
180,833
338,338
61,200
650
@
Auto Manufacturers: 1.0%
Ford Motor Co.
Paccar, Inc.
769,284
28,171
797,455
6,035
Auto Parts & Equipment: 0.2%
Johnson Controls, Inc.
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199,095
199,095
194,593
18,600
13,940
6,400
369,250
9,400
73,750
20,115
9,950
4,520
37,210
86,346
@
Banks: 19.8%
Bank of America Corp.
Bank of New York Mellon Corp.
BB&T Corp.
Capital One Financial Corp.
Citigroup, Inc.
Goldman Sachs Group, Inc.
JPMorgan Chase & Co.
Morgan Stanley
PNC Financial Services Group, Inc.
State Street Corp.
US Bancorp.
Wells Fargo & Co.
3,473,478
574,368
451,517
265,024
1,495,463
1,603,922
3,300,313
589,168
594,015
204,033
962,995
2,687,088
16,201,384
Beverages: 0.7%
Coca-Cola Co.
9,695
533,225
533,225
2,800
21,860
11,860
Chemicals: 1.6%
Air Products & Chemicals, Inc.
Dow Chemical Co.
EI Du Pont de Nemours & Co.
35,350
10,630
Computers: 1.5%
EMC Corp.
Hewlett-Packard Co.
207,060
646,400
441,666
1,295,126
@
637,714
564,985
1,202,699
Cosmetics/Personal Care: 1.5%
Procter & Gamble Co.
19,685
1,245,470
1,245,470
Diversified Financial Services: 1.6%
American Express Co.
Blackrock, Inc.
CME Group, Inc.
Franklin Resources, Inc.
16,150
450
1,250
1,650
666,349
97,992
395,138
182,985
1,342,464
Electric: 4.5%
American Electric Power Co., Inc.
Dominion Resources, Inc.
Duke Energy Corp.
Entergy Corp.
Exelon Corp.
FirstEnergy Corp.
FPL Group, Inc.
Pacific Gas & Electric Co.
Public Service Enterprise Group, Inc.
Southern Co.
9,390
11,550
25,300
3,750
11,715
6,000
7,000
7,140
9,910
15,400
320,950
474,821
412,896
305,063
513,234
234,540
338,310
302,879
292,543
510,664
3,705,900
7,550
@
Electronics: 0.5%
Thermo Fisher Scientific, Inc.
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388,372
388,372
Environmental Control: 0.0%
Waste Management, Inc.
950
32,709
32,709
Food: 1.4%
General Mills, Inc.
Kraft Foods, Inc.
Kroger Co.
3,680
28,900
2,100
260,507
873,936
45,486
1,179,929
ING
RussellTM
Large Cap Value Index Portfolio
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
19,000
3,440
12,250
4,200
@
Healthcare - Products: 1.6%
Boston Scientific Corp.
CareFusion Corp.
Johnson & Johnson
Zimmer Holdings, Inc.
@
Healthcare - Services: 1.9%
Aetna, Inc.
UnitedHealth Group, Inc.
WellPoint, Inc.
@
@
$
137,180
90,919
798,700
248,640
1,275,439
6,830
23,500
8,370
239,801
767,745
538,861
1,546,407
Household Products/Wares: 0.1%
Kimberly-Clark Corp.
1,050
66,024
66,024
Insurance: 2.7%
Allstate Corp.
Chubb Corp.
Loews Corp.
Metlife, Inc.
Prudential Financial, Inc.
Travelers Cos., Inc.
10,400
6,800
6,300
11,300
4,480
10,345
336,024
352,580
234,864
489,742
271,040
558,009
2,242,259
2,195
16,750
1,600
@
@
@
Internet: 0.7%
AOL, Inc.
eBay, Inc.
Yahoo!, Inc.
55,490
451,413
26,448
533,351
6,150
Iron/Steel: 0.3%
Nucor Corp.
4,600
Leisure Time: 0.2%
Carnival Corp.
279,087
279,087
178,848
178,848
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Machinery - Construction & Mining: 0.5%
Caterpillar, Inc.
5,900
370,815
370,815
Machinery - Diversified: 0.4%
Deere & Co.
6,150
365,679
365,679
52,250
10,351
1,065
44,700
6,826
23,448
10,600
37,105
@
@
@
Media: 5.9%
Comcast Corp. – Class A
DirecTV
Liberty Media Corp. - Starz
News Corp. - Class A
Time Warner Cable, Inc.
Time Warner, Inc.
Viacom - Class B
Walt Disney Co.
983,345
349,967
58,234
644,127
363,894
733,219
364,428
1,295,336
4,792,550
Mining: 0.6%
Alcoa, Inc.
Freeport-McMoRan Copper & Gold, Inc.
Southern Copper Corp.
10,300
3,265
950
146,672
272,758
30,087
449,517
Miscellaneous Manufacturing: 5.3%
Danaher Corp.
General Electric Co.
Illinois Tool Works, Inc.
2,000
207,805
8,850
159,820
3,782,051
419,136
4,361,007
9,785
6,560
12,350
39,285
29,100
8,810
4,750
71,060
5,590
14,050
15,830
11,350
11,300
S
Oil & Gas: 18.1%
Anadarko Petroleum Corp.
Apache Corp.
Chesapeake Energy Corp.
Chevron Corp.
ConocoPhillips
Devon Energy Corp.
EOG Resources, Inc.
ExxonMobil Corp.
Hess Corp.
Marathon Oil Corp.
Occidental Petroleum Corp.
Valero Energy Corp.
XTO Energy, Inc.
712,642
665,840
291,954
2,978,982
1,489,047
567,628
441,465
4,759,599
349,655
444,542
1,338,268
223,595
533,134
14,796,351
5,700
17,545
8,300
12,845
Oil & Gas Services: 2.4%
Baker Hughes, Inc.
Halliburton Co.
National Oilwell Varco, Inc.
Schlumberger Ltd.
266,988
528,631
336,814
815,144
1,947,577
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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ING RussellTM Large Cap Value Index Portfolio
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
Pharmaceuticals: 6.4%
Bristol-Myers Squibb Co.
Cardinal Health, Inc.
Eli Lilly & Co.
McKesson Corp.
Merck & Co., Inc.
Pfizer, Inc.
15,050
7,030
9,400
2,860
36,700
157,907
$
401,835
253,291
340,468
187,959
1,370,745
2,708,105
5,262,403
Pipelines: 0.3%
Williams Cos., Inc.
11,320
261,492
261,492
19,835
1,200
31,100
450
19,800
@
Retail: 2.8%
CVS Caremark Corp.
Gap, Inc.
Home Depot, Inc.
Kohl’s Corp.
Lowe’s Cos., Inc.
725,168
27,732
1,006,085
24,651
479,952
2,263,588
26,050
42,000
Semiconductors: 1.6%
Applied Materials, Inc.
Intel Corp.
4,550
Software: 0.1%
Activision Blizzard, Inc.
351,154
934,920
1,286,074
54,873
54,873
115,800
4,465
42,100
54,850
55,695
@
@
Telecommunications: 6.5%
AT&T, Inc.
Corning, Inc.
Motorola, Inc.
Sprint Nextel Corp.
Verizon Communications, Inc.
2,992,272
90,238
295,542
208,430
1,727,659
5,314,141
7,680
6,050
6,175
4,590
Transportation: 2.0%
CSX Corp.
FedEx Corp.
Norfolk Southern Corp.
Union Pacific Corp.
390,912
565,070
345,121
336,447
1,637,550
Total Common Stock
(Cost $56,875,673)
79,740,493
REAL ESTATE INVESTMENT TRUSTS: 0.3%
2,758
Regional Malls: 0.3%
Simon Property Group, Inc.
Total Real Estate Investment Trusts
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231,396
231,396
(Cost $130,108)
Total Long-Term Investments
(Cost $57,005,781)
79,971,889
SHORT-TERM INVESTMENTS: 2.0%
1,680,000
Affiliated Mutual Fund: 2.0%
ING Institutional Prime Money Market Fund - Class I
1,680,000
Total Short-Term Investments
(Cost $1,680,000)
1,680,000
Total Investments in Securities
(Cost $58,685,781) *
Other Assets and Liabilities - Net
Net Assets
@
99.8%
0.2
$
81,651,889
134,490
100.0%
$
81,786,379
$
23,160,018
(5,461,479)
$
17,698,539
Non-income producing security
All or a portion of this security has been identified by the Fund to cover
future collateral requirements for applicable futures, options, swaps, foreign
currency contracts and/or when-issued or delayed-delivery securities.
S
*
Cost for federal income tax purposes is $63,953,350.
Net unrealized appreciation consists of:
Gross Unrealized Appreciation
Gross Unrealized Depreciation
Net Unrealized Appreciation
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING RussellTM Large Cap Value Index Portfolio
Fair Value Measurements
The following is a summary of the fair valuations according to the inputs used as of March 31, 2010 in valuing the Portfolio’s assets and
liabilities:
Quoted Prices
Significant Other
Significant
in Active Markets
Observable
Unobservable
Fair Value
for Identical Investments
Inputs
Inputs
at
(Level 1)
(Level 2)
(Level 3)
3/31/2010
Asset Table
Investments, at value
Common Stock*
Real Estate Investment Trusts
Short-Term Investments
$
79,740,493
231,396
1,680,000
$
—
—
—
$
—
—
—
$
79,740,493
231,396
1,680,000
Total Investments, at value
$
81,651,889
$
—
$
—
$
81,651,889
Other Financial Instruments+:
Futures
Total Assets
59,725
$
81,711,614
—
$
—
59,725
—
$
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
—
$
81,711,614
+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency
contracts, futures, swaps, and written options. Forward foreign currency contracts and futures are reported at their unrealized gain/loss at
measurement date which represents the amount due to/from the Portfolio. Swaps and written options are reported at their market value at
measurement date.
* For further breakdown of Common Stock by Industry type, please refer to the Portfolio of Investments.
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING RussellTM Large Cap Value Index Portfolio
ING Russell™™ Large Cap Value Index Portfolio Open Futures Contracts on March 31, 2010:
Unrealized
Number of
Contract Description
Long Contracts
S&P 500 E-Mini
ING
RussellTM
Appreciation/
Contracts
Expiration Date
34
Mid Cap Growth Index Portfolio
06/18/10
Market Value
(Depreciation)
$
1,980,840
$
59,725
$
1,980,840
$
59,725
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited)
Shares
Value
COMMON STOCK: 95.3%
5,980
8,560
22,520
29,000
6,100
7,160
@
@
@
@
Aerospace/Defense: 1.6%
Alliant Techsystems, Inc.
BE Aerospace, Inc.
Goodrich Corp.
Rockwell Collins, Inc.
Spirit Aerosystems Holdings, Inc.
TransDigm Group, Inc.
$
486,174
260,652
1,588,110
1,815,110
142,618
379,766
4,672,430
Agriculture: 0.6%
Lorillard, Inc.
25,680
1,932,163
1,932,163
51,960
21,875
5,440
140,880
42,220
@
@, L
@
Airlines: 1.3%
AMR Corp.
Continental Airlines, Inc.
Copa Holdings S.A.
Delta Airlines, Inc.
Southwest Airlines Co.
473,356
480,594
330,752
2,055,439
558,148
3,898,289
58,040
17,240
@
Apparel: 1.3%
Coach, Inc.
Hanesbrands, Inc.
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2,293,741
479,617
9,460
3,640
Polo Ralph Lauren Corp.
VF Corp.
804,478
291,746
3,869,582
11,520
@
Auto Manufacturers: 0.2%
Navistar International Corp.
515,290
515,290
19,740
1,220
44,100
2,260
10,260
@
@
@
@
Auto Parts & Equipment: 0.6%
BorgWarner, Inc.
Federal Mogul Corp.
Goodyear Tire & Rubber Co.
TRW Automotive Holdings Corp.
WABCO Holdings, Inc.
753,673
22,399
557,424
64,591
306,979
1,705,066
1,300
7,160
3,974
S
Banks: 0.1%
BOK Financial Corp.
CapitalSource, Inc.
Commerce Bancshares, Inc.
68,172
40,024
163,490
271,686
13,600
47,980
6,260
12,560
1,380
@
@
Beverages: 1.1%
Brown-Forman Corp.
Coca-Cola Enterprises, Inc.
Green Mountain Coffee Roasters, Inc.
Hansen Natural Corp.
Molson Coors Brewing Co.
808,520
1,327,127
606,093
544,853
58,043
3,344,636
1,400
15,740
25,720
3,480
8,120
24,220
22,380
28,420
10,040
17,400
10,600
8,600
8,460
35,540
@
@
@
@
@
@, L
@, L
@
@
@
@
@
@
@
Biotechnology: 3.2%
Abraxis Bioscience, Inc.
Alexion Pharmaceuticals, Inc.
Amylin Pharmaceuticals, Inc.
Bio-Rad Laboratories, Inc.
Charles River Laboratories International, Inc.
Dendreon Corp.
Illumina, Inc.
Life Technologies Corp.
Millipore Corp.
Myriad Genetics, Inc.
OSI Pharmaceuticals, Inc.
Talecris Biotherapeutics Holdings Corp.
United Therapeutics Corp.
Vertex Pharmaceuticals, Inc.
72,450
855,784
578,443
360,250
319,197
883,303
870,582
1,485,513
1,060,224
418,470
631,230
171,312
468,092
1,452,520
9,627,370
1,680
8,040
8,560
3,200
30,860
6,800
@
L
@
Building Materials: 0.5%
Armstrong World Industries, Inc.
Eagle Materials, Inc.
Lennox International, Inc.
Martin Marietta Materials, Inc.
Masco Corp.
Owens Corning, Inc.
61,001
213,382
379,379
267,360
478,947
172,992
1,573,061
Chemicals: 3.0%
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
980
1,080
26,180
7,340
Albemarle Corp.
Ashland, Inc.
Celanese Corp.
CF Industries Holdings, Inc.
ING RussellTM Mid Cap Growth Index Portfolio
41,777
56,992
833,833
669,261
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
43,120
11,260
13,440
7,060
10,740
12,420
15,520
22,220
12,500
220
@, L
L
Chemicals (continued)
Ecolab, Inc.
FMC Corp.
International Flavors & Fragrances, Inc.
Intrepid Potash, Inc.
Lubrizol Corp.
RPM International, Inc.
Sherwin-Williams Co.
Sigma-Aldrich Corp.
Terra Industries, Inc.
Valhi, Inc.
$
1,895,124
681,680
640,685
214,130
985,073
265,043
1,050,394
1,192,325
572,000
4,330
9,102,647
21,870
32,900
12,480
9,700
@
Coal: 1.3%
Alpha Natural Resources, Inc.
Consol Energy, Inc.
Massey Energy Co.
Walter Industries, Inc.
1,091,094
1,403,514
652,579
895,019
4,042,206
8,800
9,780
24,100
8,420
12,440
2,460
2,520
11,340
2,600
18,000
9,480
11,420
14,580
62,060
15,200
4,200
3,200
32,900
6,990
17,380
@, L
@
@
@
@
@
@, L
@
@
@
@
Commercial Services: 5.9%
Aaron Rents, Inc.
Alliance Data Systems Corp.
Apollo Group, Inc. - Class A
Brink’s Home Security Holdings, Inc.
Career Education Corp.
Convergys Corp.
Corrections Corp. of America
DeVry, Inc.
Education Management Corp.
Equifax, Inc.
FTI Consulting, Inc.
Genpact Ltd.
Global Payments, Inc.
H&R Block, Inc.
Hewitt Associates, Inc.
Hillenbrand, Inc.
Interactive Data Corp.
Iron Mountain, Inc.
ITT Educational Services, Inc.
Lender Processing Services, Inc.
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293,392
625,822
1,477,089
358,271
393,602
30,160
50,047
739,368
56,940
644,400
372,754
191,513
664,119
1,104,668
604,656
92,358
102,400
901,460
786,235
656,095
13,460
34,280
3,560
58,700
19,120
27,920
9,700
53,160
22,100
2,680
21,340
13,100
620
@
@
@
L
@
Monster Worldwide, Inc.
Moody’s Corp.
Morningstar, Inc.
Paychex, Inc.
Pharmaceutical Product Development, Inc.
Robert Half International, Inc.
RR Donnelley & Sons Co.
SAIC, Inc.
SEI Investments Co.
Strayer Education, Inc.
Total System Services, Inc.
Verisk Analytics, Inc.
Weight Watchers International, Inc.
223,571
1,019,830
171,200
1,802,090
454,100
849,606
207,095
940,932
485,537
652,634
334,184
369,420
15,829
17,671,377
24,800
48,120
53,340
10,600
6,120
8,800
14,680
28,980
60,660
20,080
80,800
16,500
25,740
36,700
@, S
@, S
@
@
@
@
@
@
@
@
@
@
Computers: 3.9%
Brocade Communications Systems, Inc.
Cadence Design Systems, Inc.
Cognizant Technology Solutions Corp.
Diebold, Inc.
DST Systems, Inc.
IHS, Inc.
Micros Systems, Inc.
NCR Corp.
NetApp, Inc.
Sandisk Corp.
Seagate Technology, Inc.
Synopsys, Inc.
Teradata Corp.
Western Digital Corp.
141,608
320,479
2,719,273
336,656
253,674
470,536
482,678
399,924
1,975,090
695,370
1,475,408
369,105
743,629
1,430,933
11,814,363
Cosmetics/Personal Care: 1.4%
Alberto-Culver Co.
Avon Products, Inc.
Estee Lauder Cos., Inc.
13,240
77,920
20,380
346,226
2,639,152
1,322,051
4,307,429
24,040
25,560
4,100
11,280
L
@
@
Distribution/Wholesale: 1.0%
Fastenal Co.
LKQ Corp.
Wesco International, Inc.
WW Grainger, Inc.
1,153,680
518,868
142,311
1,219,594
3,034,453
7,480
4,800
@
@
Diversified Financial Services: 3.4%
Affiliated Managers Group, Inc.
AmeriCredit Corp.
ING RussellTM Mid Cap Growth Index Portfolio
590,920
114,048
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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Shares
Value
3,520
21,360
15,060
34,740
3,800
13,320
6,040
680
28,000
16,040
13,900
10,960
12,280
18,440
80
46,700
47,640
15,740
L
@, L
L
@
@
L
@
@
@
Diversified Financial Services (continued)
Ameriprise Financial, Inc.
Eaton Vance Corp.
Federated Investors, Inc.
GLG Partners, Inc.
Greenhill & Co., Inc.
IntercontinentalExchange, Inc.
Invesco Ltd.
Investment Technology Group, Inc.
Janus Capital Group, Inc.
Jefferies Group, Inc.
Lazard Ltd.
Nasdaq Stock Market, Inc.
NYSE Euronext
SLM Corp.
Student Loan Corp.
T. Rowe Price Group, Inc.
TD Ameritrade Holding Corp.
Waddell & Reed Financial, Inc.
$
159,667
716,414
397,283
106,652
311,942
1,494,238
132,336
11,349
400,120
379,667
496,230
231,475
363,611
230,869
2,842
2,565,231
908,018
567,270
10,180,182
97,940
18,920
32,960
28,160
2,840
3,220
9,180
18,320
3,540
68,620
@, S
@, S
L
Electric: 1.9%
AES Corp.
Allegheny Energy, Inc.
Calpine Corp.
Constellation Energy Group, Inc.
DPL, Inc.
Integrys Energy Group, Inc.
ITC Holdings Corp.
NV Energy, Inc.
Ormat Technologies, Inc.
PPL Corp.
1,077,340
435,160
391,894
988,698
77,220
152,564
504,900
225,886
99,616
1,901,460
5,854,738
4,200
19,700
10,580
1,320
2,140
17,640
@, L
@
@, L
Electrical Components & Equipment: 0.7%
A123 Systems, Inc.
Ametek, Inc.
Energizer Holdings, Inc.
Hubbell, Inc.
Molex, Inc.
Sunpower Corp. - Class A
57,708
816,762
664,001
66,568
44,640
333,396
1,983,075
62,560
31,240
9,180
9,320
1,980
9,620
27,480
16,680
@
@
@
@
@
L
Electronics: 3.5%
Agilent Technologies, Inc.
Amphenol Corp.
Arrow Electronics, Inc.
Avnet, Inc.
AVX Corp.
Dolby Laboratories, Inc.
Flir Systems, Inc.
Garmin Ltd.
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2,151,438
1,318,016
276,593
279,600
28,116
564,405
774,936
641,846
25,120
6,740
17,020
6,020
10,260
4,420
3,220
21,880
7,160
17,640
@
@
@
@
@, S
@
Gentex Corp.
Itron, Inc.
Jabil Circuit, Inc.
Mettler Toledo International, Inc.
National Instruments Corp.
PerkinElmer, Inc.
Thomas & Betts Corp.
Trimble Navigation Ltd.
Vishay Intertechnology, Inc.
Waters Corp.
487,830
489,122
275,554
657,384
342,171
105,638
126,353
628,394
73,247
1,191,406
10,412,049
17,110
32,840
22,440
41,580
12,420
1,980
@
@
@
@
@
Engineering & Construction: 1.6%
Aecom Technology Corp.
Fluor Corp.
Jacobs Engineering Group, Inc.
McDermott International, Inc.
Shaw Group, Inc.
URS Corp.
485,411
1,527,388
1,014,064
1,119,334
427,496
98,228
4,671,921
44,920
7,560
11,640
780
@
@, L
Entertainment: 0.4%
International Game Technology
Regal Entertainment Group
Scientific Games Corp.
Warner Music Group Corp.
828,774
132,829
163,891
5,390
1,130,884
25,180
18,700
15,520
10,640
@
@
Environmental Control: 0.8%
Nalco Holding Co.
Republic Services, Inc.
Stericycle, Inc.
Waste Connections, Inc.
@
Food: 2.2%
Campbell Soup Co.
Dean Foods Co.
612,629
542,674
845,840
361,334
2,362,477
24,340
32,840
ING RussellTM Mid Cap Growth Index Portfolio
860,419
515,260
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
11,640
16,420
46,540
1,300
23,640
31,460
1,680
19,100
@
@
Food (continued)
Flowers Foods, Inc.
Hershey Co.
HJ Heinz Co.
Hormel Foods Corp.
McCormick & Co., Inc.
Sara Lee Corp.
Smithfield Foods, Inc.
Whole Foods Market, Inc.
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$
287,974
702,940
2,122,689
54,613
906,830
438,238
34,843
690,465
6,614,271
Gas: 0.3%
CenterPoint Energy, Inc.
59,260
850,974
850,974
Hand/Machine Tools: 0.0%
Snap-On, Inc.
3,080
133,487
133,487
12,480
18,060
27,180
10,220
9,440
16,400
4,420
4,420
29,280
10,740
6,880
6,720
3,920
18,300
13,780
6,720
3,200
22,840
@
@
@
@
@
@, L
@
@
@
@, L
@
Healthcare - Products: 4.8%
Beckman Coulter, Inc.
CR Bard, Inc.
Densply International, Inc.
Edwards Lifesciences Corp.
Gen-Probe, Inc.
Henry Schein, Inc.
Hill-Rom Holdings, Inc.
Hologic, Inc.
Hospira, Inc.
Idexx Laboratories, Inc.
Intuitive Surgical, Inc.
Inverness Medical Innovations, Inc.
Kinetic Concepts, Inc.
Patterson Cos., Inc.
Resmed, Inc.
Techne Corp.
Teleflex, Inc.
Varian Medical Systems, Inc.
783,744
1,564,357
947,223
1,010,554
472,000
965,960
120,268
81,947
1,658,712
618,087
2,395,134
261,744
187,415
568,215
877,097
427,997
205,024
1,263,737
14,409,215
3,260
8,480
11,640
7,640
18,920
45,120
11,340
19,840
10,040
2,840
28,380
59,460
1,400
@
@, L
@
@
@, S
@
@
@
@
@, S
Healthcare - Services: 2.5%
Cigna Corp.
Community Health Systems, Inc.
Covance, Inc.
Coventry Health Care, Inc.
DaVita, Inc.
Health Management Associates, Inc.
Humana, Inc.
Laboratory Corp. of America Holdings
Lincare Holdings, Inc.
Mednax, Inc.
Quest Diagnostics
Tenet Healthcare Corp.
Universal Health Services, Inc.
119,251
313,166
714,580
188,861
1,199,528
388,032
530,372
1,502,086
450,595
165,260
1,654,270
340,111
49,126
7,615,238
12,500
@
Holding Companies - Diversified: 0.1%
Leucadia National Corp.
310,125
310,125
1,060
2,760
240
6,500
@
@, S
Home Builders: 0.2%
KB Home
MDC Holdings, Inc.
NVR, Inc.
Pulte Homes, Inc.
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17,755
95,524
174,360
73,125
3,320
100,297
Thor Industries, Inc.
461,061
Home Furnishings: 0.1%
Harman International Industries, Inc.
5,780
270,388
270,388
Household Products/Wares: 0.9%
Avery Dennison Corp.
Church & Dwight Co., Inc.
Clorox Co.
Scotts Miracle-Gro Co.
3,860
12,880
22,460
8,180
140,543
862,316
1,440,584
379,143
2,822,586
Housewares: 0.1%
Newell Rubbermaid, Inc.
Toro Co.
8,160
6,500
124,032
319,605
443,637
8,395
16,940
7,340
15,760
2,380
3,220
3,780
6,280
@
@
Insurance: 1.8%
American International Group, Inc.
Arthur J. Gallagher & Co.
Axis Capital Holdings Ltd.
Brown & Brown, Inc.
CNA Financial Corp.
Endurance Specialty Holdings Ltd.
Erie Indemnity Co.
Fidelity National Title Group, Inc.
ING RussellTM Mid Cap Growth Index Portfolio
286,605
415,877
229,448
282,419
63,594
119,623
163,031
93,070
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
37,180
780
16,320
7,100
56,660
12,620
1,060
2,600
8,120
@
L
Insurance (continued)
Genworth Financial, Inc.
Hanover Insurance Group, Inc.
Lincoln National Corp.
Marsh & McLennan Cos., Inc.
Principal Financial Group, Inc.
Progressive Corp.
Reinsurance Group of America, Inc.
Validus Holdings Ltd.
WR Berkley Corp.
$
681,881
34,016
501,024
173,382
1,655,039
240,916
55,671
71,578
211,851
5,279,025
31,440
6,880
30,480
14,280
9,140
28,380
7,720
@
@
@
@
@
@, L
Internet: 2.9%
Akamai Technologies, Inc.
Equinix, Inc.
Expedia, Inc.
F5 Networks, Inc.
IAC/InterActiveCorp
McAfee, Inc.
NetFlix, Inc.
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987,530
669,699
760,781
878,363
207,844
1,138,889
569,273
7,660
5,340
35,180
9,972
@
@
@
@, L
Priceline.com, Inc.
Sohucom, Inc.
VeriSign, Inc.
WebMD Health Corp.
1,953,300
291,564
915,032
462,501
8,834,776
Iron/Steel: 0.1%
Cliffs Natural Resources, Inc.
Schnitzer Steel Industries, Inc.
2,360
3,220
167,442
169,147
336,589
7,420
9,540
@, L
@
Leisure Time: 0.2%
Royal Caribbean Cruises Ltd.
WMS Industries, Inc.
244,786
400,108
644,894
1,640
4,400
41,300
25,820
16,480
5,420
14,380
@
@, L
@
Lodging: 0.9%
Choice Hotels International, Inc.
Hyatt Hotels Corp.
Las Vegas Sands Corp.
Marriott International, Inc.
MGM Mirage, Inc.
Starwood Hotels & Resorts Worldwide, Inc.
Wyndham Worldwide Corp.
57,088
171,424
873,495
813,846
197,760
252,789
369,997
2,736,399
Machinery - Construction & Mining: 0.4%
Bucyrus International, Inc.
Joy Global, Inc.
3,200
16,340
211,168
924,844
1,136,012
12,280
10,200
4,800
8,800
2,760
14,140
8,800
9,920
@
Machinery - Diversified: 1.3%
Cummins, Inc.
Flowserve Corp.
Graco, Inc.
IDEX Corp.
Rockwell Automation, Inc.
Roper Industries, Inc.
Wabtec Corp.
Zebra Technologies Corp.
760,746
1,124,754
153,600
291,280
155,554
817,858
370,656
293,632
3,968,080
6,100
47,740
7,640
7,480
57,420
1,380
9,640
@
@
@, S
Media: 1.6%
CTC Media, Inc.
Discovery Communications, Inc. - Class C
Factset Research Systems, Inc.
John Wiley & Sons, Inc.
McGraw-Hill Cos., Inc.
New York Times Co.
Scripps Networks Interactive - Class A
105,042
1,404,033
560,547
323,734
2,047,023
15,359
427,534
4,883,272
25,480
3,860
S
Metal Fabricate/Hardware: 1.2%
Precision Castparts Corp.
Valmont Industries, Inc.
3,228,571
319,724
3,548,295
Mining: 0.1%
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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3,280
1,980
Compass Minerals International, Inc.
Royal Gold, Inc.
263,154
91,496
354,650
Miscellaneous Manufacturing: 1.4%
Brink’s Co.
Carlisle Cos., Inc.
Crane Co.
Donaldson Co., Inc.
Dover Corp.
Harsco Corp.
ITT Corp.
Leggett & Platt, Inc.
Pall Corp.
Pentair, Inc.
8,320
3,120
4,400
14,060
23,960
10,660
3,340
17,780
21,600
4,800
234,874
118,872
156,200
634,387
1,120,130
340,480
179,057
384,759
874,584
170,976
4,214,319
ING
RussellTM
Mid Cap Growth Index Portfolio
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
49,400
S
Office/Business Equipment: 0.2%
Xerox Corp.
$
481,650
481,650
8,800
4,460
680
2,740
12,560
23,820
22,380
7,500
15,060
5,960
7,800
13,960
4,100
55,240
13,780
14,840
21,420
4,140
3,640
1,040
3,000
10,300
@
@
@
@
L
@
@
@
@
@
@
@
@
Oil & Gas: 2.4%
Atwood Oceanics, Inc.
CNX Gas Corp.
Comstock Resources, Inc.
Continental Resources, Inc.
Diamond Offshore Drilling
EQT Corp.
EXCO Resources, Inc.
Forest Oil Corp.
Frontier Oil Corp.
Helmerich & Payne, Inc.
Holly Corp.
Mariner Energy, Inc.
Patterson-UTI Energy, Inc.
PetroHawk Energy Corp.
Plains Exploration & Production Co.
Pride International, Inc.
Quicksilver Resources, Inc.
Range Resources Corp.
Rowan Cos., Inc.
Seahawk Drilling, Inc.
St. Mary Land & Exploration Co.
Tesoro Corp.
304,744
169,703
21,624
116,587
1,115,454
976,620
411,344
193,650
203,310
226,957
217,698
208,981
57,277
1,120,267
413,262
446,832
301,379
194,042
105,960
19,604
104,430
143,170
7,072,895
Oil & Gas Services: 1.8%
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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39,660
15,060
5,100
22,440
9,980
26,440
@
@
@
@
@
Cameron International Corp.
Dresser-Rand Group, Inc.
Exterran Holdings, Inc.
FMC Technologies, Inc.
Oceaneering International, Inc.
Smith International, Inc.
1,699,828
473,185
123,267
1,450,297
633,630
1,132,161
5,512,368
11,220
29,200
25,040
2,000
19,760
@
@
@
Packaging & Containers: 0.9%
Ball Corp.
Crown Holdings, Inc.
Owens-Illinois, Inc.
Packaging Corp. of America
Pactiv Corp.
598,924
787,232
889,922
49,220
497,557
2,822,855
45,460
18,220
13,410
11,280
18,580
39,800
6,720
9,160
14,520
12,500
15,520
@
@
@, L
@
@, L
@, L
Pharmaceuticals: 2.5%
AmerisourceBergen Corp.
BioMarin Pharmaceuticals, Inc.
Cephalon, Inc.
Herbalife Ltd.
Mead Johnson Nutrition Co.
Mylan Laboratories
NBTY, Inc.
Omnicare, Inc.
Perrigo Co.
Valeant Pharmaceuticals International
VCA Antech, Inc.
1,314,703
425,801
908,930
520,234
966,717
903,858
322,426
259,136
852,614
536,375
435,026
7,445,820
35,560
S
Pipelines: 0.1%
El Paso Corp.
385,470
385,470
39,020
16,760
@
@, L
Real Estate: 0.4%
CB Richard Ellis Group, Inc.
St. Joe Co.
618,467
542,186
1,160,653
8,040
17,300
18,510
31,180
1,380
5,340
1,440
47,580
1,760
1,840
18,700
19,460
28,600
30,240
5,720
@
@
@
@
@
@
@
@
Retail: 8.3%
Abercrombie & Fitch Co.
Advance Auto Parts, Inc.
Aeropostale, Inc.
American Eagle Outfitters
Autonation, Inc.
Autozone, Inc.
Barnes & Noble, Inc.
Bed Bath & Beyond, Inc.
Big Lots, Inc.
BJ’s Wholesale Club, Inc.
Brinker International, Inc.
Burger King Holdings, Inc.
Carmax, Inc.
Chico’s FAS, Inc.
Chipotle Mexican Grill, Inc.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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366,946
725,216
533,643
577,454
24,950
924,301
31,133
2,082,101
64,099
68,062
360,536
413,720
718,432
436,061
644,472
12,280
25,040
15,760
ING
RussellTM
@
@
Copart, Inc.
Darden Restaurants, Inc.
Dick’s Sporting Goods, Inc.
Mid Cap Growth Index Portfolio
437,168
1,115,282
411,494
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
4,200
16,420
25,560
12,560
26,400
10,580
32,520
7,780
30,020
9,160
24,740
4,980
2,700
22,900
6,040
3,140
23,160
20,840
75,520
23,360
26,780
6,960
@
@
@
@, S
@
@
@
@
S
Retail (continued)
Dollar General Corp.
Dollar Tree, Inc.
Family Dollar Stores, Inc.
Foot Locker, Inc.
GameStop Corp.
Guess ?, Inc.
Limited Brands, Inc.
MSC Industrial Direct Co.
Nordstrom, Inc.
Office Depot, Inc.
O’Reilly Automotive, Inc.
Panera Bread Co.
Penske Auto Group, Inc.
Petsmart, Inc.
Phillips-Van Heusen
RadioShack Corp.
Ross Stores, Inc.
Tiffany & Co.
TJX Cos., Inc.
Urban Outfitters, Inc.
Wendy’s/Arby’s Group, Inc. - Class A
Williams-Sonoma, Inc.
$
106,050
972,392
935,752
188,902
578,424
497,048
800,642
394,602
1,226,317
73,097
1,031,905
380,920
38,934
731,884
346,454
71,058
1,238,365
989,692
3,211,110
888,381
133,900
182,978
24,953,877
Savings & Loans: 0.3%
Capitol Federal Financial
Hudson City Bancorp., Inc.
TFS Financial Corp.
3,620
47,360
1,840
135,605
670,618
24,564
830,787
53,720
53,560
53,200
19,040
23,120
6,340
5,720
11,040
22,980
40,540
@
@
@, S
@, S
@
@
Semiconductors: 6.2%
Advanced Micro Devices, Inc.
Altera Corp.
Analog Devices, Inc.
Cree, Inc.
Cypress Semiconductor Corp.
Integrated Device Technology, Inc.
International Rectifier Corp.
Intersil Corp.
Lam Research Corp.
Linear Technology Corp.
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497,984
1,302,044
1,533,224
1,336,989
265,880
38,864
130,988
162,950
857,614
1,146,471
84,580
46,680
40,780
30,300
27,240
41,920
10,720
99,620
76,720
21,720
19,060
12,780
8,178
31,540
13,300
49,900
@
@
L
@, S
@
@
@, S
@
@, L
@
@
@, S
@
Marvell Technology Group Ltd.
Maxim Integrated Products
MEMC Electronic Materials, Inc.
Microchip Technology, Inc.
Micron Technology, Inc.
National Semiconductor Corp.
Novellus Systems, Inc.
Nvidia Corp.
ON Semiconductor Corp.
QLogic Corp.
Rambus, Inc.
Rovi Corp.
Silicon Laboratories, Inc.
Teradyne, Inc.
Varian Semiconductor Equipment Associates, Inc.
Xilinx, Inc.
1,723,740
905,125
625,157
853,248
283,024
605,744
268,000
1,731,396
613,760
440,916
416,461
474,521
389,845
352,302
440,496
1,272,450
18,669,193
11,440
15,960
28,220
33,840
15,780
55,400
12,360
32,980
9,680
58,940
3,800
35,555
28,460
58,920
18,320
28,700
36,100
34,545
19,840
15,220
@
@
@
@
@, L
@
@
@, L
@
@
@
@, S
@
@
@
@
Software: 6.0%
Allscripts Healthcare Solutions, Inc.
Ansys, Inc.
Autodesk, Inc.
BMC Software, Inc.
Broadridge Financial Solutions ADR
CA, Inc.
Cerner Corp.
Citrix Systems, Inc.
Dun & Bradstreet Corp.
Electronic Arts, Inc.
Emdeon, Inc.
Fidelity National Information Services, Inc.
Fiserv, Inc.
Intuit, Inc.
MSCI, Inc. - Class A
Novell, Inc.
Nuance Communications, Inc.
Red Hat, Inc.
Salesforce.com, Inc.
Sybase, Inc.
223,766
688,514
830,232
1,285,920
337,376
1,300,238
1,051,342
1,565,561
720,386
1,099,820
62,776
833,409
1,444,630
2,023,313
661,352
171,913
600,704
1,011,132
1,477,088
709,556
18,099,028
4,880
1,920
19,060
ING
RussellTM
@
@
@
Telecommunications: 1.6%
Amdocs Ltd.
Ciena Corp.
Crown Castle International Corp.
Mid Cap Growth Index Portfolio
146,937
29,261
728,664
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
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24,720
19,020
20,140
8,340
46,220
13,260
1,680
21,260
27,240
37,000
L
@, S
@, L
@, L
@
@
@
@
S
Telecommunications (continued)
Frontier Communications Corp.
Harris Corp.
JDS Uniphase Corp.
Leap Wireless International, Inc.
MetroPCS Communications, Inc.
NeuStar, Inc.
NII Holdings, Inc.
SBA Communications Corp.
TW Telecom, Inc.
Windstream Corp.
$
183,917
903,260
252,354
136,442
327,238
334,152
69,989
766,848
494,406
402,930
4,776,398
Textiles: 0.0%
Cintas Corp.
4,200
117,978
117,978
Toys/Games/Hobbies: 0.6%
Hasbro, Inc.
Mattel, Inc.
13,520
50,660
517,546
1,152,008
1,669,554
30,940
2,940
38,720
15,860
7,660
2,140
9,480
3,320
16,780
@
@
L
Transportation: 1.6%
CH Robinson Worldwide, Inc.
Con-way, Inc.
Expeditors International Washington, Inc.
JB Hunt Transport Services, Inc.
Kansas City Southern
Kirby Corp.
Landstar System, Inc.
Teekay Shipping Corp.
UTI Worldwide, Inc.
1,727,999
103,253
1,429,542
569,057
277,062
81,641
397,970
75,497
257,070
4,919,091
Trucking & Leasing: 0.0%
GATX Corp.
3,800
108,870
108,870
Water: 0.0%
American Water Works Co., Inc.
1,600
34,816
34,816
Total Common Stock
(Cost $222,564,095)
286,905,970
REAL ESTATE INVESTMENT TRUSTS: 1.8%
13,820
L
Diversified: 0.3%
Digital Realty Trust, Inc.
749,044
749,044
10,580
Forestry: 0.1%
Plum Creek Timber Co., Inc.
411,668
411,668
19,120
9,960
Health Care: 0.5%
HCP, Inc.
Health Care Real Estate Investment Trust, Inc.
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630,960
450,491
14,160
497,724
Nationwide Health Properties, Inc.
1,579,175
Office Property: 0.0%
Alexandria Real Estate Equities, Inc.
1,600
108,160
108,160
Paper & Related Products: 0.1%
Rayonier, Inc.
6,500
295,295
295,295
Shopping Centers: 0.0%
Federal Realty Investment Trust
1,440
104,846
104,846
Storage: 0.8%
Public Storage, Inc.
24,400
2,244,556
2,244,556
Total Real Estate Investment Trusts
(Cost $4,323,993)
5,492,744
Total Long-Term Investments
(Cost $226,888,088)
292,398,714
SHORT-TERM INVESTMENTS: 8.3%
8,343,000
15,844,313
1,077,859
I
Affiliated Mutual Fund: 2.8%
ING Institutional Prime Money Market Fund - Class I
8,343,000
Total Mutual Fund
(Cost $8,343,000)
8,343,000
Securities Lending Collateral(cc): 5.5%
Bank of New York Mellon Corp. Institutional Cash Reserves, Series A (1)
Bank of New York Mellon Corp. Institutional Cash Reserves, Series B (1)(2)
15,844,313
862,287
Total Securities Lending Collateral
(Cost $16,922,172)
16,706,600
Total Short-Term Investments
(Cost $25,265,172)
25,049,600
ING RussellTM Mid Cap Growth Index Portfolio
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
@
I
Total Investments in Securities
(Cost $252,153,260)*
Other Assets and Liabilities - Net
105.4%
(5.4)
$
317,448,314
(16,314,310)
Net Assets
100.0%
$
301,134,004
Non-income producing security
Illiquid Security
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ADR
cc
(1)
(2)
S
L
*
American Depositary Receipt
Securities purchased with cash collateral for securities loaned.
Collateral received from brokers for securites lending was invested in these
short-term investments.
On September 12, 2008, BNY established a separate sleeve of the
Institutional Cash Reserves Fund (Series B) to hold certain Lehman Brothers
defaulted debt obligations. The Fund’s position in Series B is being fair
valued daily.
All or a portion of this security has been identified by the Fund to cover
future collateral requirements for applicable futures, options, swaps, foreign
currency contracts and/or when-issued or delayed-delivery securities.
Loaned security, a portion or all of the security is on loan at March 31, 2010.
Cost for federal income tax purposes is $253,358,493.
Net unrealized appreciation consists of:
Gross Unrealized Appreciation
Gross Unrealized Depreciation
Net Unrealized Appreciation
$
67,891,540
(3,801,719)
$
64,089,821
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING RussellTM Mid Cap Growth Index Portfolio
Fair Value Measurements
The following is a summary of the fair valuations according to the inputs used as of March 31, 2010 in valuing the Portfolio’s assets and
liabilities:
Quoted Prices
Significant Other
Significant
in Active Markets
Observable
Unobservable
Fair Value
for Identical Investments
Inputs
Inputs
at
(Level 1)
(Level 2)
(Level 3)
3/31/2010
Asset Table
Investments, at value
Common Stock*
Real Estate Investment Trusts
Short-Term Investments
$
286,905,970
5,492,744
24,187,313
$
—
—
—
$
—
—
862,287
$
286,905,970
5,492,744
25,049,600
Total Investments, at value
$
316,586,027
$
—
$
862,287
$
317,448,314
Other Financial Instruments+:
Futures
106,590
$
Total Assets
316,692,617
—
$
—
106,590
—
$
862,287
$
317,554,904
The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio’s assets and liabilities
during the period ended March 31, 2010:
Beginning
Accrued
Total
Total Unrealized
Transfers
Transfers
Ending
Balance
Discounts/
Realized
Appreciation/
Into
Out of
Balance
(Premiums)
Gain/(Loss)
(Depreciation)
Level 3
Level 3
3/31/2010
12/31/2009
Purchases
Sales
Asset Table
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Investments, at value
Short-Term Investments
$862,287
$—
$—
$—
$—
$—
$—
$—
$862,287
Total Investments, at value
$862,287
$—
$—
$—
$—
$—
$—
$—
$862,287
As of March 31, 2010, total change in unrealized gain (loss) on Level 3 securities still held at period end and included in the change in net
assets was $0.
+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency
contracts, futures, swaps, and written options. Forward foreign currency contracts and futures are reported at their unrealized gain/loss at
measurement date which represents the amount due to/from the Portfolio. Swaps and written options are reported at their market value at
measurement date.
Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any security or
derivative instrument where a change in the pricing level occurred from the beginning to the end of the period.
* For further breakdown of Common Stock by Industry type, please refer to the Portfolio of Investments.
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING RussellTM Mid Cap Growth Index Portfolio
ING Russell™™ Mid Cap Growth Index Portfolio Open Futures Contracts on March 31, 2010:
Unrealized
Number
Contract Description
of Contracts
Long Contracts
S&P Mid 400 E-Mini
ING
RussellTM
Appreciation/
Expiration Date
116
06/18/10
Market Value
(Depreciation)
$
9,141,960
$
106,590
$
9,141,960
$
106,590
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited)
Mid Cap Index Portfolio
Shares
Value
COMMON STOCK: 93.6%
17,750
207,750
24,700
@
@
@
Advertising: 0.2%
Clear Channel Outdoor Holdings, Inc.
Interpublic Group of Cos., Inc.
Lamar Advertising Co.
$
188,328
1,728,480
848,445
2,765,253
14,200
41,450
53,650
50,550
@
@
Aerospace/Defense: 1.2%
Alliant Techsystems, Inc.
BE Aerospace, Inc.
Goodrich Corp.
L-3 Communications Holdings, Inc.
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1,154,460
1,262,153
3,783,398
4,631,897
68,550
45,750
17,200
@
@
Rockwell Collins, Inc.
Spirit Aerosystems Holdings, Inc.
TransDigm Group, Inc.
4,290,545
1,069,635
912,288
17,104,376
55,150
72,750
@
Agriculture: 0.6%
Bunge Ltd.
Lorillard, Inc.
3,398,895
5,473,710
8,872,605
123,800
56,600
13,100
335,262
321,400
@
@
@
Airlines: 0.9%
AMR Corp.
Continental Airlines, Inc.
Copa Holdings S.A.
Delta Airlines, Inc.
Southwest Airlines Co.
1,127,818
1,243,502
796,480
4,891,473
4,248,908
12,308,181
138,000
41,300
24,000
38,350
@
Apparel: 0.8%
Coach, Inc.
Hanesbrands, Inc.
Polo Ralph Lauren Corp.
VF Corp.
@
Auto Manufacturers: 0.2%
Navistar International Corp.
Oshkosh Truck Corp.
5,453,760
1,148,966
2,040,960
3,073,753
11,717,439
27,400
35,600
1,225,602
1,436,104
2,661,706
37,000
50,550
9,050
105,050
23,350
27,700
L
@
@
@
@
Auto Parts & Equipment: 0.5%
Autoliv, Inc.
BorgWarner, Inc.
Federal Mogul Corp.
Goodyear Tire & Rubber Co.
TRW Automotive Holdings Corp.
WABCO Holdings, Inc.
1,906,610
1,929,999
166,158
1,327,832
667,343
828,784
6,826,726
55,250
36,150
20,800
8,750
103,650
18,550
65,200
27,405
22,300
346,450
2,600
97,410
76,150
335,100
362,750
32,000
L
S
@
L
Banks: 2.8%
Associated Banc-Corp.
Bancorpsouth, Inc.
Bank of Hawaii Corp.
BOK Financial Corp.
CapitalSource, Inc.
City National Corp.
Comerica, Inc.
Commerce Bancshares, Inc.
Cullen/Frost Bankers, Inc.
Fifth Third Bancorp.
First Citizens BancShares, Inc.
First Horizon National Corp.
Fulton Financial Corp.
Huntington Bancshares, Inc.
Keycorp
M&T Bank Corp.
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762,450
757,704
934,960
458,850
579,404
1,001,144
2,480,208
1,127,442
1,244,340
4,708,256
516,776
1,368,611
775,969
1,799,487
2,811,313
2,540,160
226,850
281,100
492,250
215,300
170,600
55,550
61,564
29,300
30,150
52,650
L
L
Marshall & Ilsley Corp.
Popular, Inc.
Regions Financial Corp.
SunTrust Bank
Synovus Financial Corp.
TCF Financial Corp.
Valley National Bancorp.
Whitney Holding Corp.
Wilmington Trust Corp.
Zions Bancorp.
1,826,143
818,001
3,864,163
5,767,887
561,274
885,467
946,239
404,047
499,586
1,148,823
40,588,704
38,812
21,050
133,600
81,950
ING
RussellTM
@
@
Beverages: 1.2%
Brown-Forman Corp.
Central European Distribution Corp.
Coca-Cola Enterprises, Inc.
Constellation Brands, Inc.
2,307,373
736,961
3,695,376
1,347,258
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Mid Cap Index Portfolio
Shares
Value
109,350
14,000
29,800
55,250
@
@
Beverages (continued)
Dr Pepper Snapple Group, Inc.
Green Mountain Coffee Roasters, Inc.
Hansen Natural Corp.
Molson Coors Brewing Co.
$
3,845,840
1,355,480
1,292,724
2,323,815
16,904,827
3,000
37,200
61,150
8,300
28,600
59,400
53,450
75,661
24,100
41,300
25,000
21,500
20,000
83,600
@
@
@
@
@
@, L
@, L
@
@
@
@
@
@
@
Biotechnology: 1.6%
Abraxis Bioscience, Inc.
Alexion Pharmaceuticals, Inc.
Amylin Pharmaceuticals, Inc.
Bio-Rad Laboratories, Inc.
Charles River Laboratories International, Inc.
Dendreon Corp.
Illumina, Inc.
Life Technologies Corp.
Millipore Corp.
Myriad Genetics, Inc.
OSI Pharmaceuticals, Inc.
Talecris Biotherapeutics Holdings Corp.
United Therapeutics Corp.
Vertex Pharmaceuticals, Inc.
155,250
2,022,564
1,375,264
859,216
1,124,266
2,166,318
2,079,205
3,954,800
2,544,960
993,265
1,488,750
428,280
1,106,600
3,416,732
23,715,470
8,800
19,050
20,150
19,350
@
L
Building Materials: 0.5%
Armstrong World Industries, Inc.
Eagle Materials, Inc.
Lennox International, Inc.
Martin Marietta Materials, Inc.
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319,528
505,587
893,048
1,616,693
156,800
36,900
17,950
@
@, L
Masco Corp.
Owens Corning, Inc.
USG Corp.
2,433,536
938,736
308,022
7,015,150
35,150
39,700
32,200
28,300
62,150
20,900
20,600
31,500
102,350
31,500
69,950
34,200
17,900
29,300
71,550
55,850
43,050
53,050
42,850
2,400
43,450
@, L
Chemicals: 2.8%
Airgas, Inc.
Albemarle Corp.
Ashland, Inc.
Cabot Corp.
Celanese Corp.
CF Industries Holdings, Inc.
Cytec Industries, Inc.
Eastman Chemical Co.
Ecolab, Inc.
FMC Corp.
Huntsman Corp.
International Flavors & Fragrances, Inc.
Intrepid Potash, Inc.
Lubrizol Corp.
PPG Industries, Inc.
RPM International, Inc.
Sherwin-Williams Co.
Sigma-Aldrich Corp.
Terra Industries, Inc.
Valhi, Inc.
Valspar Corp.
2,236,243
1,692,411
1,699,194
860,320
1,979,478
1,905,662
962,844
2,005,920
4,498,283
1,907,010
842,898
1,630,314
542,907
2,687,396
4,679,370
1,191,839
2,913,624
2,846,663
1,960,816
47,232
1,280,906
40,371,330
51,991
66,500
78,450
37,200
23,000
@
Coal: 0.8%
Alpha Natural Resources, Inc.
Arch Coal, Inc.
Consol Energy, Inc.
Massey Energy Co.
Walter Industries, Inc.
2,593,831
1,519,525
3,346,677
1,945,188
2,122,210
11,527,431
20,900
24,150
57,450
19,750
31,000
42,450
49,750
26,900
54,750
22,150
27,200
34,800
146,700
80,950
36,050
26,800
@, L
@
@
@
@
@
@
@
@
@
Commercial Services: 3.8%
Aaron Rents, Inc.
Alliance Data Systems Corp.
Apollo Group, Inc. - Class A
Brink’s Home Security Holdings, Inc.
Career Education Corp.
Convergys Corp.
Corrections Corp. of America
DeVry, Inc.
Equifax, Inc.
FTI Consulting, Inc.
Genpact Ltd.
Global Payments, Inc.
H&R Block, Inc.
Hertz Global Holdings, Inc.
Hewitt Associates, Inc.
Hillenbrand, Inc.
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696,806
1,545,359
3,521,111
840,363
980,840
520,437
988,035
1,753,880
1,960,050
870,938
456,144
1,585,140
2,611,260
808,691
1,434,069
589,332
15,700
78,150
16,550
41,200
34,000
54,650
@
@
Interactive Data Corp.
Iron Mountain, Inc.
ITT Educational Services, Inc.
Lender Processing Services, Inc.
Manpower, Inc.
Monster Worldwide, Inc.
502,400
2,141,310
1,861,544
1,555,300
1,942,080
907,737
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING RussellTM Mid Cap Index Portfolio
Shares
Value
81,350
8,400
139,400
45,450
85,950
66,300
88,850
169,800
52,350
108,800
6,000
69,950
42,100
2,620
14,500
@
@
@
L
@
Commercial Services (continued)
Moody’s Corp.
Morningstar, Inc.
Paychex, Inc.
Pharmaceutical Product Development, Inc.
Quanta Services, Inc.
Robert Half International, Inc.
RR Donnelley & Sons Co.
SAIC, Inc.
SEI Investments Co.
Service Corp. International
Strayer Education, Inc.
Total System Services, Inc.
Verisk Analytics, Inc.
Washington Post
Weight Watchers International, Inc.
$
2,420,163
403,956
4,279,580
1,079,438
1,646,802
2,017,509
1,896,948
3,005,460
1,150,130
998,784
1,461,120
1,095,417
1,187,220
1,163,752
370,185
54,249,290
168,000
114,250
126,500
65,600
28,600
16,650
20,650
33,800
34,800
68,800
144,550
98,500
213,650
62,500
74,950
96,900
@, S
@, S
@
@
@
@
@
@
@
@
@
@
@
@
Computers: 2.6%
Brocade Communications Systems, Inc.
Cadence Design Systems, Inc.
Cognizant Technology Solutions Corp.
Computer Sciences Corp.
Diebold, Inc.
DST Systems, Inc.
IHS, Inc.
Lexmark International, Inc.
Micros Systems, Inc.
NCR Corp.
NetApp, Inc.
Sandisk Corp.
Seagate Technology, Inc.
Synopsys, Inc.
Teradata Corp.
Western Digital Corp.
959,280
760,905
6,448,970
3,574,544
908,336
690,143
1,104,156
1,219,504
1,144,224
949,440
4,706,548
3,411,055
3,901,249
1,398,125
2,165,306
3,778,131
37,119,916
36,950
Cosmetics/Personal Care: 0.7%
Alberto-Culver Co.
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966,243
184,950
48,350
Avon Products, Inc.
Estee Lauder Cos., Inc.
6,264,257
3,136,465
10,366,965
57,250
68,950
69,800
60,750
18,350
26,600
L
@
@
@
Distribution/Wholesale: 0.8%
Fastenal Co.
Genuine Parts Co.
Ingram Micro, Inc.
LKQ Corp.
Wesco International, Inc.
WW Grainger, Inc.
2,747,428
2,912,448
1,224,990
1,233,225
636,929
2,875,992
11,631,012
18,050
38,850
110,700
224,650
50,650
38,250
82,650
8,800
17,700
31,600
181,400
18,750
76,350
50,450
33,200
70,350
58,750
112,800
42,600
202,600
1,700
110,750
113,450
37,450
@
@
L
@, L
@, L
@
@
L
@
@
@
Diversified Financial Services: 3.2%
Affiliated Managers Group, Inc.
AmeriCredit Corp.
Ameriprise Financial, Inc.
Discover Financial Services
Eaton Vance Corp.
Federated Investors, Inc.
GLG Partners, Inc.
Greenhill & Co., Inc.
Interactive Brokers Group, Inc.
IntercontinentalExchange, Inc.
Invesco Ltd.
Investment Technology Group, Inc.
Janus Capital Group, Inc.
Jefferies Group, Inc.
Lazard Ltd.
Legg Mason, Inc.
Nasdaq Stock Market, Inc.
NYSE Euronext
Raymond James Financial, Inc.
SLM Corp.
Student Loan Corp.
T. Rowe Price Group, Inc.
TD Ameritrade Holding Corp.
Waddell & Reed Financial, Inc.
1,425,950
923,076
5,021,352
3,347,285
1,698,801
1,009,035
253,736
722,392
285,855
3,544,888
3,974,474
312,938
1,091,042
1,194,152
1,185,240
2,016,935
1,240,800
3,340,008
1,139,124
2,536,552
60,401
6,083,498
2,162,357
1,349,698
45,919,589
288,700
73,400
48,000
104,850
144,200
98,150
118,550
78,750
50,050
@
@
Electric: 4.9%
AES Corp.
Allegheny Energy, Inc.
Alliant Energy Corp.
Ameren Corp.
Calpine Corp.
CMS Energy Corp.
Consolidated Edison, Inc.
Constellation Energy Group, Inc.
DPL, Inc.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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3,175,700
1,688,200
1,596,480
2,734,488
1,714,538
1,517,399
5,280,217
2,764,913
1,360,860
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING RussellTM Mid Cap Index Portfolio
Shares
Value
70,850
216,550
140,400
58,350
39,550
33,200
21,500
79,550
62,350
75,600
114,350
46,150
101,400
41,600
8,400
94,950
43,850
163,000
120,600
151,150
52,650
92,150
47,000
50,550
197,350
@, S
@
@
@
Electric (continued)
DTE Energy Co.
Dynegy, Inc. - Class A
Edison International
Great Plains Energy, Inc.
Hawaiian Electric Industries
Integrys Energy Group, Inc.
ITC Holdings Corp.
MDU Resources Group, Inc.
Mirant Corp.
Northeast Utilities
NRG Energy, Inc.
NSTAR
NV Energy, Inc.
OGE Energy Corp.
Ormat Technologies, Inc.
Pepco Holdings, Inc.
Pinnacle West Capital Corp.
PPL Corp.
Progress Energy, Inc.
RRI Energy, Inc.
SCANA Corp.
TECO Energy, Inc.
Westar Energy, Inc.
Wisconsin Energy Corp.
Xcel Energy, Inc.
$
3,159,910
272,853
4,797,468
1,083,560
887,898
1,573,016
1,182,500
1,716,689
677,121
2,089,584
2,389,915
1,634,633
1,250,262
1,619,904
236,376
1,628,393
1,654,461
4,516,730
4,746,816
557,744
1,979,114
1,464,264
1,048,100
2,497,676
4,183,820
70,681,602
46,650
29,900
22,500
24,500
57,050
41,900
@
@
@, L
Electrical Components & Equipment: 0.5%
Ametek, Inc.
Energizer Holdings, Inc.
General Cable Corp.
Hubbell, Inc.
Molex, Inc.
Sunpower Corp. - Class A
1,934,109
1,876,524
607,500
1,235,535
1,190,063
791,910
7,635,641
148,900
74,350
51,750
65,500
21,250
22,700
65,350
49,350
59,700
17,200
@
@
@
@
@
L
@
Electronics: 2.2%
Agilent Technologies, Inc.
Amphenol Corp.
Arrow Electronics, Inc.
Avnet, Inc.
AVX Corp.
Dolby Laboratories, Inc.
Flir Systems, Inc.
Garmin Ltd.
Gentex Corp.
Itron, Inc.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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5,120,671
3,136,827
1,559,228
1,965,000
301,750
1,331,809
1,842,870
1,898,988
1,159,374
1,248,204
81,550
14,600
24,500
50,550
21,800
23,000
51,850
80,450
41,850
@
@
@
@
@
@
Jabil Circuit, Inc.
Mettler Toledo International, Inc.
National Instruments Corp.
PerkinElmer, Inc.
Tech Data Corp.
Thomas & Betts Corp.
Trimble Navigation Ltd.
Vishay Intertechnology, Inc.
Waters Corp.
1,320,295
1,594,320
817,075
1,208,145
913,420
902,520
1,489,132
823,004
2,826,549
31,459,181
55,650
@
Energy - Alternate Sources: 0.1%
Covanta Holding Corp.
927,129
927,129
41,050
78,250
53,650
69,400
99,250
36,250
35,950
@
@
@
@
@
Engineering & Construction: 1.0%
Aecom Technology Corp.
Fluor Corp.
Jacobs Engineering Group, Inc.
KBR, Inc.
McDermott International, Inc.
Shaw Group, Inc.
URS Corp.
1,164,589
3,639,408
2,424,444
1,537,904
2,671,810
1,247,725
1,783,480
14,469,360
31,400
128,800
13,000
25,375
28,900
34,900
27,800
19,400
@
@
@
@
Entertainment: 0.4%
DreamWorks Animation SKG, Inc.
International Game Technology
International Speedway Corp.
Madison Square Garden, Inc.
Penn National Gaming, Inc.
Regal Entertainment Group
Scientific Games Corp.
Warner Music Group Corp.
1,236,846
2,376,360
335,010
551,399
803,420
613,193
391,424
134,054
6,441,706
59,900
139,510
36,650
34,800
@
@
Environmental Control: 0.6%
Nalco Holding Co.
Republic Services, Inc.
Stericycle, Inc.
Waste Connections, Inc.
1,457,367
4,048,580
1,997,425
1,181,808
8,685,180
ING
RussellTM
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Mid Cap Index Portfolio
Shares
85,100
194,100
32,400
77,950
Value
@
Food: 3.1%
Campbell Soup Co.
ConAgra Foods, Inc.
Corn Products International, Inc.
Dean Foods Co.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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$
3,008,285
4,866,087
1,122,984
1,223,036
85,650
33,400
66,600
136,000
30,100
51,250
56,250
24,600
184,600
301,150
56,150
95,550
129,900
47,450
@
@
@
Del Monte Foods Co.
Flowers Foods, Inc.
Hershey Co.
HJ Heinz Co.
Hormel Foods Corp.
JM Smucker Co.
McCormick & Co., Inc.
Ralcorp Holdings, Inc.
Safeway, Inc.
Sara Lee Corp.
Smithfield Foods, Inc.
Supervalu, Inc.
Tyson Foods, Inc.
Whole Foods Market, Inc.
1,250,490
826,316
2,851,146
6,202,960
1,264,501
3,088,325
2,157,750
1,667,388
4,589,156
4,195,020
1,164,551
1,593,774
2,487,585
1,715,318
45,274,672
Forest Products & Paper: 0.7%
International Paper Co.
MeadWestvaco Corp.
Weyerhaeuser Co.
188,350
74,450
92,050
4,635,294
1,902,198
4,167,104
10,704,596
Gas: 1.3%
AGL Resources, Inc.
Atmos Energy Corp.
CenterPoint Energy, Inc.
Energen Corp.
National Fuel Gas Co.
NiSource, Inc.
Sempra Energy
Southern Union Co.
UGI Corp.
Vectren Corp.
33,300
39,900
173,500
31,100
30,700
118,850
105,650
48,150
46,850
35,000
1,287,045
1,139,943
2,491,460
1,447,083
1,551,885
1,877,830
5,271,935
1,221,566
1,243,399
865,200
18,397,346
Hand/Machine Tools: 0.5%
Kennametal, Inc.
Lincoln Electric Holdings, Inc.
Snap-On, Inc.
Stanley Black & Decker, Inc.
34,200
18,450
25,000
67,577
961,704
1,002,389
1,083,500
3,879,596
6,927,189
30,500
19,450
42,950
64,400
24,300
22,500
39,000
27,100
110,650
69,550
25,500
@
@
@
@
@
@, L
Healthcare - Products: 2.7%
Beckman Coulter, Inc.
Cooper Cos., Inc.
CR Bard, Inc.
Densply International, Inc.
Edwards Lifesciences Corp.
Gen-Probe, Inc.
Henry Schein, Inc.
Hill-Rom Holdings, Inc.
Hologic, Inc.
Hospira, Inc.
Idexx Laboratories, Inc.
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1,915,400
756,216
3,720,329
2,244,340
2,402,784
1,125,000
2,297,100
737,391
2,051,451
3,940,008
1,467,525
16,450
34,700
26,600
43,550
32,500
16,150
17,250
54,350
@
@
@
@
@
Intuitive Surgical, Inc.
Inverness Medical Innovations, Inc.
Kinetic Concepts, Inc.
Patterson Cos., Inc.
Resmed, Inc.
Techne Corp.
Teleflex, Inc.
Varian Medical Systems, Inc.
5,726,739
1,351,565
1,271,746
1,352,228
2,068,625
1,028,594
1,105,208
3,007,186
39,569,435
18,100
118,100
40,150
27,700
64,600
44,850
107,650
44,750
73,400
46,900
23,500
29,800
19,750
67,250
204,750
39,500
@
@
@
@
@
@, S
@
@
@
@
@
@
@
Healthcare - Services: 2.2%
Brookdale Senior Living, Inc.
Cigna Corp.
Community Health Systems, Inc.
Covance, Inc.
Coventry Health Care, Inc.
DaVita, Inc.
Health Management Associates, Inc.
Health Net, Inc.
Humana, Inc.
Laboratory Corp. of America Holdings
LifePoint Hospitals, Inc.
Lincare Holdings, Inc.
Mednax, Inc.
Quest Diagnostics
Tenet Healthcare Corp.
Universal Health Services, Inc.
377,023
4,320,098
1,482,740
1,700,503
1,596,912
2,843,490
925,790
1,112,933
3,432,918
3,550,799
864,330
1,337,424
1,149,253
3,920,003
1,171,170
1,386,055
31,171,441
ING
RussellTM
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Mid Cap Index Portfolio
Shares
Value
81,350
@
Holding Companies - Diversified: 0.1%
Leucadia National Corp.
$
2,018,294
2,018,294
120,900
33,400
62,850
16,300
2,520
145,590
15,300
59,050
@
@
@
Home Builders: 0.6%
D.R. Horton, Inc.
KB Home
Lennar Corp.
MDC Holdings, Inc.
NVR, Inc.
Pulte Homes, Inc.
Thor Industries, Inc.
Toll Brothers, Inc.
1,523,340
559,450
1,081,649
564,143
1,830,780
1,637,888
462,213
1,228,240
8,887,703
25,500
32,100
Home Furnishings: 0.3%
Harman International Industries, Inc.
Whirlpool Corp.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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1,192,890
2,800,725
3,993,615
Household Products/Wares: 0.9%
Avery Dennison Corp.
Church & Dwight Co., Inc.
Clorox Co.
Fortune Brands, Inc.
Jarden Corp.
Scotts Miracle-Gro Co.
48,350
30,450
60,250
65,100
38,300
19,350
1,760,424
2,038,628
3,864,435
3,158,001
1,275,007
896,873
12,993,368
Housewares: 0.2%
Newell Rubbermaid, Inc.
Toro Co.
120,600
15,500
1,833,120
762,135
2,595,255
2,271
21,550
37,300
52,550
7,000
119,900
22,750
43,400
35,900
50,950
61,600
50,550
62,550
11,650
21,400
12,800
26,600
101,550
40,500
211,800
22,100
165,100
48,550
124,250
4,280
225,950
57,050
11,550
104,600
10,050
30,400
135,150
295,300
37,200
31,500
27,000
21,350
@
@, L
@
@
@
L
S
@
@
Insurance: 5.7%
Alleghany Corp.
Allied World Assurance Holdings Ltd.
American Financial Group, Inc.
American International Group, Inc.
American National Insurance
AON Corp.
Arch Capital Group Ltd.
Arthur J. Gallagher & Co.
Aspen Insurance Holdings Ltd.
Assurant, Inc.
Axis Capital Holdings Ltd.
Brown & Brown, Inc.
Cincinnati Financial Corp.
CNA Financial Corp.
Endurance Specialty Holdings Ltd.
Erie Indemnity Co.
Everest Re Group Ltd.
Fidelity National Title Group, Inc.
First American Corp.
Genworth Financial, Inc.
Hanover Insurance Group, Inc.
Hartford Financial Services Group, Inc.
HCC Insurance Holdings, Inc.
Lincoln National Corp.
Markel Corp.
Marsh & McLennan Cos., Inc.
MBIA, Inc.
Mercury General Corp.
Old Republic International Corp.
OneBeacon Insurance Group Ltd.
PartnerRe Ltd.
Principal Financial Group, Inc.
Progressive Corp.
Protective Life Corp.
Reinsurance Group of America, Inc.
RenaissanceRe Holdings Ltd.
Stancorp Financial Group, Inc.
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660,267
966,518
1,061,185
1,794,057
794,780
5,120,929
1,734,688
1,065,470
1,035,356
1,751,661
1,925,616
905,856
1,807,695
311,288
795,010
552,064
2,152,738
1,504,971
1,370,520
3,884,412
963,781
4,692,142
1,339,980
3,814,475
1,603,545
5,517,699
357,704
504,966
1,326,328
173,363
2,423,488
3,947,732
5,637,277
818,028
1,654,380
1,532,520
1,016,901
35,900
11,850
18,250
143,850
42,100
600
3,330
58,200
147,600
Torchmark Corp.
Transatlantic Holdings, Inc.
Unitrin, Inc.
UnumProvident Corp.
Validus Holdings Ltd.
Wesco Financial Corp.
White Mountains Insurance Group Ltd.
WR Berkley Corp.
XL Capital Ltd.
1,921,009
625,680
511,913
3,563,165
1,159,013
231,300
1,182,150
1,518,438
2,789,640
82,021,698
74,900
16,400
79,850
34,050
44,350
258,500
@
@
@
@
@
Internet: 1.8%
Akamai Technologies, Inc.
Equinix, Inc.
Expedia, Inc.
F5 Networks, Inc.
IAC/InterActiveCorp
Liberty Media Corp. - Interactive - Class A
2,352,609
1,596,376
1,993,056
2,094,416
1,008,519
3,957,635
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING RussellTM Mid Cap Index Portfolio
Shares
Value
67,500
18,400
18,050
13,050
82,850
23,510
@
@, L
@
@
@
@, L
Internet (continued)
McAfee, Inc.
NetFlix, Inc.
Priceline.com, Inc.
Sohucom, Inc.
VeriSign, Inc.
WebMD Health Corp.
$
2,708,775
1,356,816
4,602,750
712,530
2,154,929
1,090,394
25,628,805
Iron/Steel: 1.1%
AK Steel Holding Corp.
Allegheny Technologies, Inc.
Carpenter Technology Corp.
Cliffs Natural Resources, Inc.
Reliance Steel & Aluminum Co.
Schnitzer Steel Industries, Inc.
Steel Dynamics, Inc.
United States Steel Corp.
47,650
42,650
19,150
56,950
27,200
9,250
86,150
62,200
1,089,279
2,302,674
700,890
4,040,603
1,339,056
485,903
1,505,041
3,950,944
15,414,390
101,800
56,850
18,900
@, L
@, L
Leisure Time: 0.4%
Harley-Davidson, Inc.
Royal Caribbean Cruises Ltd.
WMS Industries, Inc.
2,857,526
1,875,482
792,666
5,525,674
23,900
12,400
@, L
Lodging: 1.2%
Boyd Gaming Corp.
Choice Hotels International, Inc.
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236,132
431,644
18,700
130,300
130,225
84,350
81,150
77,350
29,300
@
@, L
@
Hyatt Hotels Corp.
Las Vegas Sands Corp.
Marriott International, Inc.
MGM Mirage, Inc.
Starwood Hotels & Resorts Worldwide, Inc.
Wyndham Worldwide Corp.
Wynn Resorts Ltd.
728,552
2,755,845
4,104,692
1,012,200
3,784,836
1,990,216
2,221,819
17,265,936
32,800
44,650
45,950
@
Machinery - Construction & Mining: 0.4%
Bucyrus International, Inc.
Joy Global, Inc.
Terex Corp.
2,164,472
2,527,190
1,043,525
5,735,187
40,200
88,000
24,400
22,400
26,000
34,950
56,650
61,600
39,300
20,800
25,700
@
@
Machinery - Diversified: 1.4%
AGCO Corp.
Cummins, Inc.
Flowserve Corp.
Gardner Denver, Inc.
Graco, Inc.
IDEX Corp.
Manitowoc Co., Inc.
Rockwell Automation, Inc.
Roper Industries, Inc.
Wabtec Corp.
Zebra Technologies Corp.
1,441,974
5,451,600
2,690,588
986,496
832,000
1,156,845
736,450
3,471,776
2,273,112
876,096
760,720
20,677,657
101,600
262,900
15,000
14,800
121,700
87,100
18,050
100,250
17,950
115,700
34,950
136,450
14,750
45,000
38,050
@
@
@
@
@
@
@
Media: 1.9%
Cablevision Systems Corp.
CBS Corp. - Class B
Central European Media Enterprises Ltd.
CTC Media, Inc.
Discovery Communications, Inc. - Class C
Dish Network Corp.
Factset Research Systems, Inc.
Gannett Co., Inc.
John Wiley & Sons, Inc.
Liberty Global, Inc.
Liberty Media Corp. - Capital Shares A
McGraw-Hill Cos., Inc.
Meredith Corp.
New York Times Co.
Scripps Networks Interactive - Class A
2,452,624
3,664,826
439,650
254,856
3,579,197
1,813,422
1,324,329
1,656,130
776,876
3,373,812
1,271,132
4,864,443
507,548
500,850
1,687,518
28,167,213
48,750
60,650
41,950
9,100
Metal Fabricate/Hardware: 0.7%
Commercial Metals Co.
Precision Castparts Corp.
Timken Co.
Valmont Industries, Inc.
734,175
7,684,962
1,258,920
753,753
10,431,810
Mining: 0.3%
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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14,100
15,700
37,050
51,200
@, L
Compass Minerals International, Inc.
Royal Gold, Inc.
Titanium Metals Corp.
Vulcan Materials Co.
1,131,243
725,497
614,660
2,418,688
4,890,088
Miscellaneous Manufacturing: 2.3%
Aptargroup, Inc.
Brink’s Co.
29,400
19,750
ING
RussellTM
1,156,890
557,543
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Mid Cap Index Portfolio
Shares
26,600
21,400
33,600
80,650
71,850
34,950
78,850
68,150
51,150
69,600
42,750
21,200
121,650
34,200
Value
L
Miscellaneous Manufacturing (continued)
Carlisle Cos., Inc.
Crane Co.
Donaldson Co., Inc.
Dover Corp.
Eaton Corp.
Harsco Corp.
ITT Corp.
Leggett & Platt, Inc.
Pall Corp.
Parker Hannifin Corp.
Pentair, Inc.
SPX Corp.
Textron, Inc.
Trinity Industries, Inc.
$
1,013,460
759,700
1,516,032
3,770,388
5,444,075
1,116,303
4,227,149
1,474,766
2,071,064
4,505,904
1,522,755
1,405,984
2,582,630
682,632
33,807,275
Office/Business Equipment: 0.5%
Pitney Bowes, Inc.
Xerox Corp.
89,550
568,517
2,189,498
5,543,041
7,732,539
24,400
44,950
36,150
10,750
20,300
33,100
13,300
189,425
30,000
56,550
60,200
48,500
45,650
45,950
@
@
@
@
@
@
L
@
Oil & Gas: 4.3%
Atwood Oceanics, Inc.
Cabot Oil & Gas Corp.
Cimarex Energy Co.
CNX Gas Corp.
Comstock Resources, Inc.
Concho Resources, Inc.
Continental Resources, Inc.
Denbury Resources, Inc.
Diamond Offshore Drilling
EQT Corp.
EXCO Resources, Inc.
Forest Oil Corp.
Frontier Oil Corp.
Helmerich & Payne, Inc.
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844,972
1,654,160
2,146,587
409,038
645,540
1,666,916
565,915
3,195,600
2,664,300
2,318,550
1,106,476
1,252,270
616,275
1,749,776
18,350
41,650
82,550
123,100
57,650
75,150
66,700
124,800
49,550
56,250
75,400
75,550
50,950
67,700
49,150
53,750
5,040
27,000
50,650
59,750
17,950
22,050
@
@
@
@
@
@
@
@
@, L
@
@
@
Holly Corp.
Mariner Energy, Inc.
Murphy Oil Corp.
Nabors Industries Ltd.
Newfield Exploration Co.
Noble Energy, Inc.
Patterson-UTI Energy, Inc.
PetroHawk Energy Corp.
Pioneer Natural Resources Co.
Plains Exploration & Production Co.
Pride International, Inc.
Questar Corp.
Quicksilver Resources, Inc.
Range Resources Corp.
Rowan Cos., Inc.
SandRidge Energy, Inc.
Seahawk Drilling, Inc.
St. Mary Land & Exploration Co.
Sunoco, Inc.
Tesoro Corp.
Unit Corp.
Whiting Petroleum Corp.
512,149
623,501
4,638,485
2,416,453
3,000,683
5,485,950
931,799
2,530,944
2,790,656
1,686,938
2,270,294
3,263,760
716,867
3,173,099
1,430,757
413,875
95,004
939,870
1,504,812
830,525
758,926
1,782,522
62,634,244
126,900
104,000
35,750
27,200
53,750
43,800
23,700
21,550
8,700
106,750
33,900
@
@
@
@
@
@
@
@
@
Oil & Gas Services: 1.5%
BJ Services Co.
Cameron International Corp.
Dresser-Rand Group, Inc.
Exterran Holdings, Inc.
FMC Technologies, Inc.
Helix Energy Solutions Group, Inc.
Oceaneering International, Inc.
Oil States International, Inc.
SEACOR Holdings, Inc.
Smith International, Inc.
Superior Energy Services
2,715,660
4,457,440
1,123,265
657,424
3,473,863
570,714
1,504,713
977,077
701,742
4,571,035
712,578
21,465,511
40,750
45,850
69,150
14,500
73,050
44,750
57,250
69,050
43,350
46,750
@
@
@
Packaging & Containers: 1.0%
Ball Corp.
Bemis Co.
Crown Holdings, Inc.
Greif, Inc. - Class A
Owens-Illinois, Inc.
Packaging Corp. of America
Pactiv Corp.
Sealed Air Corp.
Sonoco Products Co.
Temple-Inland, Inc.
2,175,235
1,316,812
1,864,284
796,340
2,596,197
1,101,298
1,441,555
1,455,574
1,334,747
955,103
15,037,145
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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ING
RussellTM
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Mid Cap Index Portfolio
Shares
Value
130,700
43,250
32,000
50,850
130,700
26,600
107,750
87,700
132,300
23,300
51,050
34,500
29,500
36,750
45,550
@
@
@
@
@
@, L
@
@, L
@
@
Pharmaceuticals: 2.2%
AmerisourceBergen Corp.
BioMarin Pharmaceuticals, Inc.
Cephalon, Inc.
Endo Pharmaceuticals Holdings, Inc.
Forest Laboratories, Inc.
Herbalife Ltd.
King Pharmaceuticals, Inc.
Mead Johnson Nutrition Co.
Mylan Laboratories
NBTY, Inc.
Omnicare, Inc.
Perrigo Co.
Valeant Pharmaceuticals International
VCA Antech, Inc.
Watson Pharmaceuticals, Inc.
$
3,779,844
1,010,753
2,168,960
1,204,637
4,098,752
1,226,792
1,267,140
4,563,031
3,004,533
1,117,934
1,444,205
2,025,840
1,265,845
1,030,103
1,902,624
31,110,993
Pipelines: 0.8%
El Paso Corp.
Oneok, Inc.
Spectra Energy Corp.
305,300
45,550
279,800
3,309,452
2,079,358
6,303,800
11,692,610
98,750
47,600
16,700
40,100
@
@, L
@, L
Real Estate: 0.3%
CB Richard Ellis Group, Inc.
Forest City Enterprises, Inc.
Jones Lang LaSalle, Inc.
St. Joe Co.
1,565,188
685,916
1,217,263
1,297,235
4,765,602
37,750
41,300
43,950
74,250
31,750
13,550
16,400
113,450
35,700
23,800
44,350
46,000
95,900
76,800
13,900
28,900
@
@, L
@
@
@
@
@
@
@
Retail: 5.6%
Abercrombie & Fitch Co.
Advance Auto Parts, Inc.
Aeropostale, Inc.
American Eagle Outfitters
Autonation, Inc.
Autozone, Inc.
Barnes & Noble, Inc.
Bed Bath & Beyond, Inc.
Big Lots, Inc.
BJ’s Wholesale Club, Inc.
Brinker International, Inc.
Burger King Holdings, Inc.
Carmax, Inc.
Chico’s FAS, Inc.
Chipotle Mexican Grill, Inc.
Copart, Inc.
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1,722,910
1,731,296
1,267,079
1,375,110
574,040
2,345,370
354,568
4,964,572
1,300,194
880,362
855,068
977,960
2,409,008
1,107,456
1,566,113
1,028,840
59,050
37,350
14,700
39,000
61,050
67,600
71,250
25,500
97,400
115,150
183,750
18,550
72,250
119,950
58,950
11,850
16,450
54,550
22,200
54,550
251,750
54,950
21,600
36,850
53,450
178,850
55,950
158,500
41,400
@
@
@
@
@
@
@
@
@
@, L
@
@
Darden Restaurants, Inc.
Dick’s Sporting Goods, Inc.
Dollar General Corp.
Dollar Tree, Inc.
Family Dollar Stores, Inc.
Foot Locker, Inc.
GameStop Corp.
Guess ?, Inc.
JC Penney Co., Inc.
Limited Brands, Inc.
Macy’s, Inc.
MSC Industrial Direct Co.
Nordstrom, Inc.
Office Depot, Inc.
O’Reilly Automotive, Inc.
Panera Bread Co.
Penske Auto Group, Inc.
Petsmart, Inc.
Phillips-Van Heusen
RadioShack Corp.
Rite Aid Corp.
Ross Stores, Inc.
Sears Holding Corp.
Signet Jewelers Ltd.
Tiffany & Co.
TJX Cos., Inc.
Urban Outfitters, Inc.
Wendy’s/Arby’s Group, Inc. - Class A
Williams-Sonoma, Inc.
2,630,087
975,209
371,175
2,309,580
2,235,041
1,016,704
1,561,088
1,197,990
3,133,358
2,834,993
4,000,238
940,856
2,951,413
957,201
2,458,805
906,407
237,209
1,743,418
1,273,392
1,234,467
377,625
2,938,177
2,342,088
1,191,729
2,538,341
7,604,702
2,127,779
792,500
1,088,406
80,429,924
Savings & Loans: 0.8%
Capitol Federal Financial
First Niagara Financial Group, Inc.
Hudson City Bancorp., Inc.
New York Community Bancorp., Inc.
People’s United Financial, Inc.
TFS Financial Corp.
Washington Federal, Inc.
8,650
64,700
202,800
182,400
149,750
35,850
43,350
324,029
920,034
2,871,648
3,016,896
2,342,090
478,598
880,872
10,834,167
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING RussellTM Mid Cap Index Portfolio
Shares
241,400
127,400
126,300
Value
@
Semiconductors: 4.0%
Advanced Micro Devices, Inc.
Altera Corp.
Analog Devices, Inc.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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$
2,237,778
3,097,094
3,639,966
195,600
45,600
64,800
53,850
71,650
31,200
53,150
74,000
55,050
96,400
280,050
224,350
132,500
96,950
79,250
369,100
99,750
42,550
237,550
182,500
96,900
51,550
44,250
43,700
19,450
75,250
31,700
119,100
@
@
@
@
@
@
@
@
@
@
L
@
@
@
@
@
@
@, L
@
@
@
@
Atmel Corp.
Cree, Inc.
Cypress Semiconductor Corp.
Fairchild Semiconductor International, Inc.
Integrated Device Technology, Inc.
International Rectifier Corp.
Intersil Corp.
KLA-Tencor Corp.
Lam Research Corp.
Linear Technology Corp.
LSI Logic Corp.
Marvell Technology Group Ltd.
Maxim Integrated Products
MEMC Electronic Materials, Inc.
Microchip Technology, Inc.
Micron Technology, Inc.
National Semiconductor Corp.
Novellus Systems, Inc.
Nvidia Corp.
ON Semiconductor Corp.
PMC - Sierra, Inc.
QLogic Corp.
Rambus, Inc.
Rovi Corp.
Silicon Laboratories, Inc.
Teradyne, Inc.
Varian Semiconductor Equipment Associates, Inc.
Xilinx, Inc.
983,868
3,202,032
745,200
573,503
439,215
714,480
784,494
2,288,080
2,054,466
2,726,192
1,713,906
4,572,253
2,569,175
1,486,244
2,231,680
3,834,949
1,441,388
1,063,750
4,128,619
1,460,000
864,348
1,046,465
966,863
1,622,581
927,182
840,543
1,049,904
3,037,050
58,343,268
27,200
37,950
97,800
80,050
60,450
169,900
29,000
78,350
105,100
23,000
139,300
5,900
135,155
67,450
140,150
43,350
149,400
94,750
82,250
47,050
36,000
@
@
@
@
@, L
@
@, S
@
@, L
@
@
@
@
@
@
@
@
Software: 3.3%
Allscripts Healthcare Solutions, Inc.
Ansys, Inc.
Autodesk, Inc.
BMC Software, Inc.
Broadridge Financial Solutions ADR
CA, Inc.
Cerner Corp.
Citrix Systems, Inc.
Compuware Corp.
Dun & Bradstreet Corp.
Electronic Arts, Inc.
Emdeon, Inc.
Fidelity National Information Services, Inc.
Fiserv, Inc.
Intuit, Inc.
MSCI, Inc. - Class A
Novell, Inc.
Nuance Communications, Inc.
Red Hat, Inc.
Salesforce.com, Inc.
Sybase, Inc.
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532,032
1,637,163
2,877,276
3,041,900
1,292,421
3,987,553
2,466,740
3,719,275
882,840
1,711,660
2,599,338
97,468
3,168,033
3,423,762
4,812,751
1,564,935
894,906
1,576,640
2,407,458
3,502,873
1,678,320
47,875,344
83,950
128,435
39,350
28,100
38,300
126,200
16,350
135,300
57,450
91,550
25,600
706,050
109,750
31,400
72,000
641,300
50,400
39,350
172,250
64,500
6,700
125,200
189,000
@
@, L
@, L
@
@
@
L
@
@, L
@
@
@
@
@
@
@
Telecommunications: 2.7%
Amdocs Ltd.
CenturyTel, Inc.
Ciena Corp.
Clearwire Corp.
CommScope, Inc.
Crown Castle International Corp.
EchoStar Holding Corp.
Frontier Communications Corp.
Harris Corp.
JDS Uniphase Corp.
Leap Wireless International, Inc.
Level 3 Communications, Inc.
MetroPCS Communications, Inc.
NeuStar, Inc.
NII Holdings, Inc.
Qwest Communications International, Inc.
SBA Communications Corp.
Telephone & Data Systems, Inc.
Tellabs, Inc.
TW Telecom, Inc.
US Cellular Corp.
Virgin Media, Inc.
Windstream Corp.
2,527,735
4,554,305
599,694
200,915
1,073,166
4,824,626
331,578
1,006,632
2,728,301
1,147,122
418,816
1,143,801
777,030
791,280
2,999,520
3,347,586
1,817,928
1,331,998
1,303,933
1,170,675
277,246
2,160,952
2,058,210
38,593,049
Textiles: 0.2%
Cintas Corp.
57,150
1,605,344
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING RussellTM Mid Cap Index Portfolio
Shares
Value
24,300
@
Textiles (continued)
Mohawk Industries, Inc.
$
1,321,434
2,926,778
Toys/Games/Hobbies: 0.4%
Hasbro, Inc.
Mattel, Inc.
54,250
155,150
2,076,690
3,528,111
5,604,801
17,850
73,550
20,750
92,150
22,350
38,100
39,600
L
@
Transportation: 1.2%
Alexander & Baldwin, Inc.
CH Robinson Worldwide, Inc.
Con-way, Inc.
Expeditors International Washington, Inc.
Frontline Ltd.
JB Hunt Transport Services, Inc.
Kansas City Southern
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589,943
4,107,768
728,740
3,402,178
684,581
1,367,028
1,432,332
23,400
22,400
10,150
24,300
18,250
22,400
43,350
@
Kirby Corp.
Landstar System, Inc.
Overseas Shipholding Group
Ryder System, Inc.
Teekay Shipping Corp.
Tidewater, Inc.
UTI Worldwide, Inc.
892,710
940,352
398,185
941,868
415,005
1,058,848
664,122
17,623,660
20,550
Trucking & Leasing: 0.0%
GATX Corp.
27,500
58,750
Water: 0.1%
American Water Works Co., Inc.
Aqua America, Inc.
588,758
588,758
598,400
1,032,238
1,630,638
Total Common Stock
(Cost $1,115,965,212)
REAL ESTATE INVESTMENT TRUSTS: 5.6%
Apartments: 0.9%
Apartment Investment & Management Co.
AvalonBay Communities, Inc.
BRE Properties, Inc.
Camden Property Trust
Equity Residential
Essex Property Trust, Inc.
UDR, Inc.
50,912
34,640
22,200
28,800
118,850
11,850
65,068
1,352,953,447
937,290
2,991,164
793,650
1,198,944
4,652,978
1,065,908
1,147,800
12,787,734
33,100
97,050
47,000
66,650
L
Diversified: 0.7%
Digital Realty Trust, Inc.
Duke Realty Corp.
Liberty Property Trust
Vornado Realty Trust
1,794,020
1,203,420
1,595,180
5,045,405
9,638,025
70,650
L
Forestry: 0.2%
Plum Creek Timber Co., Inc.
2,748,992
2,748,992
122,550
49,850
44,550
53,200
67,450
Health Care: 0.8%
HCP, Inc.
Health Care Real Estate Investment Trust, Inc.
Nationwide Health Properties, Inc.
Senior Housing Properties Trust
Ventas, Inc.
4,044,150
2,254,716
1,565,933
1,178,380
3,202,526
12,245,705
46,600
266,124
Hotels: 0.3%
Hospitality Properties Trust
Host Hotels & Resorts, Inc.
1,116,070
3,898,717
5,014,787
235,250
Mortgage: 0.3%
Annaly Capital Management, Inc.
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4,041,595
291,400
S
1,133,546
Chimera Investment Corp.
5,175,141
17,000
59,650
55,850
24,900
52,550
96,650
33,800
33,400
S
Office Property: 0.8%
Alexandria Real Estate Equities, Inc.
Boston Properties, Inc.
Brandywine Realty Trust
Corporate Office Properties Trust SBI MD
Douglas Emmett, Inc.
HRPT Properties Trust
Mack-Cali Realty Corp.
SL Green Realty Corp.
1,149,200
4,499,996
681,929
999,237
807,694
751,937
1,191,450
1,912,818
11,994,261
34,100
Paper & Related Products: 0.1%
Rayonier, Inc.
1,549,163
1,549,163
35,998
23,000
Regional Malls: 0.2%
Macerich Co.
Taubman Centers, Inc.
1,379,083
918,160
2,297,243
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING RussellTM Mid Cap Index Portfolio
Shares
Value
25,600
163,650
34,800
45,300
Shopping Centers: 0.5%
Federal Realty Investment Trust
Kimco Realty Corp.
Regency Centers Corp.
Weingarten Realty Investors
$
1,863,936
2,559,486
1,303,956
976,668
6,704,046
45,200
Single Tenant: 0.1%
Realty Income Corp.
58,250
Storage: 0.4%
Public Storage, Inc.
1,387,188
1,387,188
5,358,418
5,358,418
63,150
192,300
Warehouse/Industrial: 0.3%
AMB Property Corp.
ProLogis
1,720,206
2,538,360
4,258,566
Total Real Estate Investment Trusts
(Cost $65,113,831)
81,159,269
RIGHTS: 0.0%
1,300
Pharmaceuticals: 0.0%
Fresenius Kabi Pharmaceuticals Holding, Inc.
195
195
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28,900
Telecommunications: 0.0%
Clearwire Corp.
L
5,347
5,347
Total Rights
(Cost $-)
5,542
Total Long-Term Investments
(Cost $1,181,079,043)
1,434,118,258
SHORT-TERM INVESTMENTS: 4.0%
9,827,000
47,777,641
268,841
I
@
I
ADR
cc
(1)
Affiliated Mutual Fund: 0.7%
ING Institutional Prime Money Market Fund - Class I
9,827,000
Total Mutual Fund
(Cost $9,827,000)
9,827,000
Securities Lending Collateral(cc): 3.3%
Bank of New York Mellon Corp. Institutional Cash Reserves, Series A (1)
Bank of New York Mellon Corp. Institutional Cash Reserves, Series B (1)(2)
47,777,641
215,073
Total Securities Lending Collateral
(Cost $48,046,482)
47,992,714
Total Short-Term Investments
(Cost $57,873,482)
57,819,714
Total Investments in Securities
(Cost $1,238,952,525)*
Other Assets and Liabilities - Net
103.2%
(3.2)
$
1,491,937,972
(45,987,381)
Net Assets
100.0%
$
1,445,950,591
$
265,200,142
L
Non-income producing security
Illiquid Security
American Depositary Receipt
Securities purchased with cash collateral for securities loaned.
Collateral received from brokers for securites lending was invested in these
short-term investments.
On September 12, 2008, BNY established a separate sleeve of the
Institutional Cash Reserves Fund (Series B) to hold certain Lehman Brothers
defaulted debt obligations. The Fund’s position in Series B is being fair
valued daily.
All or a portion of this security has been identified by the Fund to cover
future collateral requirements for applicable futures, options, swaps, foreign
currency contracts and/or when-issued or delayed-delivery securities.
Loaned security, a portion or all of the security is on loan at March 31, 2010.
*
Cost for federal income tax purposes is $1,250,828,168.
(2)
S
Net unrealized appreciation consists of:
Gross Unrealized Appreciation
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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(24,090,338)
Gross Unrealized Depreciation
Net Unrealized Appreciation
ING
RussellTM
$
241,109,804
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Mid Cap Index Portfolio
Fair Value Measurements
The following is a summary of the fair valuations according to the inputs used as of March 31, 2010 in valuing the Portfolio’s assets and
liabilities:
Asset Table
Investments, at value
Common Stock*
Real Estate Investment Trusts
Rights
Short-Term Investments
Total Investments, at value
Quoted Prices
Significant Other
Significant
in Active Markets
Observable
Unobservable
Fair Value
for Identical Investments
Inputs
Inputs
at
(Level 1)
(Level 2)
(Level 3)
3/31/2010
$
1,352,953,447
81,159,269
5,542
57,604,641
$
—
—
—
—
$
—
—
—
215,073
$
1,352,953,447
81,159,269
5,542
57,819,714
$
1,491,722,899
$
—
$
215,073
$
1,491,937,972
$
1,491,966,094
$
215,073
$
1,492,181,167
Other Financial Instruments+:
Futures
243,195
Total Assets
—
$
—
243,195
—
The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio’s assets and liabilities
during the period ended March 31, 2010:
Beginning
Accrued
Balance
12/31/2009
Purchases
Sales
Total
Total Unrealized
Transfers
Transfers
Ending
Discounts/
Realized
Appreciation/
Into
Out of
Balance
(Premiums)
Gain/(Loss)
(Depreciation)
Level 3
Level 3
3/31/2010
Asset Table
Investments, at value
Short-Term Investments
$
215,073
$
—
$
—
$
—
$
—
$
—
$
—
$
—
$
215,073
Total Investments, at value
$
215,073
$
—
$
—
$
—
$
—
$
—
$
—
$
—
$
215,073
As of March 31, 2010, total change in unrealized gain (loss) on Level 3 securities still held at period end and included in the change in net
assets was $0.
+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency
contracts, futures, swaps, and written options. Forward foreign currency contracts and futures are reported at their unrealized gain/loss at
measurement date which represents the amount due to/from the Portfolio. Swaps and written options are reported at their market value at
measurement date.
Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any security or
derivative instrument where a change in the pricing level occurred from the beginning to the end of the period.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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* For further breakdown of Common Stock by Industry type, please refer to the Portfolio of Investments.
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING RussellTM Mid Cap Index Portfolio
ING Russell™™ Mid Cap Index Portfolio Open Futures Contracts on March 31, 2010:
Unrealized
Number of
Contract Description
Long Contracts
S&P Mid 400 E-Mini
ING
RussellTM
Appreciation/
Contracts
Expiration Date
163
06/18/10
Market Value
(Depreciation)
$
12,846,030
$
243,195
$
12,846,030
$
243,195
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited)
Small Cap Index Portfolio
Shares
Value
COMMON STOCK: 91.1%
9,720
35,460
23,060
19,350
@
@
Advertising: 0.2%
APAC Customer Services, Inc.
Harte-Hanks, Inc.
inVentiv Health, Inc.
Marchex, Inc.
$
55,890
456,016
517,928
98,879
1,128,713
23,920
9,860
6,850
12,320
32,560
4,360
18,380
42,090
14,650
11,420
18,500
28,850
3,860
40,920
25,760
11,430
@
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@
@
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L
@
@
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Aerospace/Defense: 1.4%
AAR Corp.
Aerovironment, Inc.
Argon ST, Inc.
Cubic Corp.
Curtiss-Wright Corp.
Ducommun, Inc.
Esterline Technologies Corp.
Gencorp, Inc.
Heico Corp.
Herley Industries, Inc.
Kaman Corp.
Moog, Inc.
National Presto Industries, Inc.
Orbital Sciences Corp.
Teledyne Technologies, Inc.
Triumph Group, Inc.
593,694
257,445
182,279
443,520
1,133,088
91,604
908,523
242,438
755,354
167,417
462,685
1,021,867
458,993
777,889
1,063,115
801,129
9,361,040
16,090
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Agriculture: 0.4%
Agfeed Industries, Inc.
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70,635
5,490
56,740
14,140
42,250
8,390
18,470
27,031
@
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Alico, Inc.
Alliance One International, Inc.
Andersons, Inc.
Star Scientific, Inc.
Tejon Ranch Co.
Universal Corp.
Vector Group Ltd.
138,623
288,807
473,407
107,738
256,063
973,184
417,088
2,725,545
85,380
24,060
10,100
29,060
147,530
28,700
39,410
108,090
104,240
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@
@
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Airlines: 1.0%
Airtran Holdings, Inc.
Alaska Air Group, Inc.
Allegiant Travel Co.
Hawaiian Holdings, Inc.
JetBlue Airways Corp.
Republic Airways Holdings, Inc.
Skywest, Inc.
UAL Corp.
US Airways Group, Inc.
433,730
991,994
584,386
214,172
823,217
169,904
562,775
2,113,160
766,164
6,659,502
17,770
40,990
10,180
7,710
57,370
8,900
8,810
44,650
54,140
24,100
10,080
9,070
6,560
80,210
22,040
10,340
30,350
14,930
21,590
21,700
11,910
30,880
6,590
34,060
@
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L
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@
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@
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@
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@
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Apparel: 1.8%
American Apparel, Inc.
Carter’s, Inc.
Cherokee, Inc.
Columbia Sportswear Co.
CROCS, Inc.
Deckers Outdoor Corp.
G-III Apparel Group Ltd.
Iconix Brand Group, Inc.
Jones Apparel Group, Inc.
K-Swiss, Inc.
Maidenform Brands, Inc.
Oxford Industries, Inc.
Perry Ellis International, Inc.
Quiksilver, Inc.
Skechers USA, Inc.
Steven Madden Ltd.
Timberland Co.
True Religion Apparel, Inc.
Under Armour, Inc.
Unifi, Inc.
Volcom, Inc.
Warnaco Group, Inc.
Weyco Group, Inc.
Wolverine World Wide, Inc.
53,843
1,235,849
183,240
405,006
503,135
1,228,200
242,804
685,824
1,029,743
252,086
220,248
184,393
148,584
379,393
800,493
504,592
647,669
453,275
634,962
78,880
232,483
1,473,285
154,997
993,190
12,726,174
49,660
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Auto Manufacturers: 0.0%
Force Protection, Inc.
298,953
298,953
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ING
RussellTM
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Small Cap Index Portfolio
Shares
Value
33,460
20,700
60,530
13,900
3,250
33,890
89,710
6,630
41,020
7,920
9,750
29,700
25,630
13,850
15,260
38,760
22,835
12,820
@
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Auto Parts & Equipment: 0.9%
American Axle & Manufacturing Holdings, Inc.
Amerigon, Inc.
ArvinMeritor, Inc.
ATC Technology Corp.
China Automotive Systems, Inc.
Cooper Tire & Rubber Co.
Dana Holding Corp.
Dorman Products, Inc.
Exide Technologies
Fuel Systems Solutions, Inc.
Miller Industries, Inc.
Modine Manufacturing Co.
Spartan Motors, Inc.
Standard Motor Products, Inc.
Superior Industries International
Tenneco, Inc.
Titan International, Inc.
Wonder Auto Technology, Inc.
$
333,931
209,277
808,076
238,524
75,108
644,588
1,065,755
125,904
235,865
253,123
121,193
333,828
143,528
137,392
245,381
916,674
199,350
135,636
6,223,133
12,350
1,600
5,025
9,725
5,950
12,480
11,150
27,650
3,910
1,870
10,240
28,100
49,200
3,630
8,640
6,790
20,490
6,050
50,120
13,282
19,370
13,850
7,450
12,930
L
@
L
L
L
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L
L
Banks: 5.8%
1st Source Corp.
Alliance Financial Corp.
Ameris Bancorp.
Arrow Financial Corp.
Bancfirst Corp.
Banco Latinoamericano de Exportaciones S.A.
Bancorp, Inc.
Bank Mutual Corp.
Bank of Kentucky Financial Corp.
Bank of Marin Bancorp
Bank of the Ozarks, Inc.
Banner Corp.
Boston Private Financial Holdings, Inc.
Bridge Bancorp, Inc.
Camden National Corp.
Capital City Bank Group, Inc.
Cardinal Financial Corp.
Cass Information Systems, Inc.
Cathay General Bancorp.
Center Bancorp, Inc.
Centerstate Banks of Florida, Inc.
Central Pacific Financial Corp.
Century Bancorp, Inc.
Chemical Financial Corp.
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216,743
47,168
45,376
261,505
249,365
179,213
99,235
179,725
77,965
61,860
360,346
107,764
362,604
84,942
277,430
96,758
218,833
188,458
583,898
110,373
237,283
23,268
143,040
305,407
5,360
246,800
11,340
6,560
16,710
19,130
19,290
11,690
54,120
11,400
71,240
11,450
2,500
3,000
2,790
10,690
53,760
17,330
51,620
6,800
38,580
14,110
9,330
19,520
48,830
3,070
8,570
55,214
69,066
46,060
6,490
67,320
17,770
26,590
8,220
4,690
12,386
15,190
ING
RussellTM
@
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Citizens & Northern Corp.
Citizens Banking Corp.
City Holding Co.
CNB Financial Corp.
CoBiz Financial, Inc.
Columbia Banking System, Inc.
Community Bank System, Inc.
Community Trust Bancorp., Inc.
CVB Financial Corp.
Eagle Bancorp, Inc.
East-West Bancorp., Inc.
Enterprise Financial Services Corp.
Farmers Capital Bank Corp.
Financial Institutions, Inc.
First Bancorp, Inc.
First Bancorp.
First Bancorp. Puerto Rico
First Busey Corp.
First Commonwealth Financial Corp.
First Community Bancshares, Inc.
First Financial Bancorp.
First Financial Bankshares, Inc.
First Financial Corp.
First Merchants Corp.
First Midwest Bancorp., Inc.
First of Long Island Corp.
First South Bancorp, Inc.
FirstMerit Corp.
FNB Corp.
Glacier Bancorp., Inc.
Great Southern Bancorp., Inc.
Guaranty Bancorp
Hancock Holding Co.
Harleysville National Corp.
Heartland Financial USA, Inc.
Heritage Financial Corp.
Home Bancshares, Inc.
IBERIABANK Corp.
67,268
289,990
388,849
101,286
104,103
388,530
439,426
316,682
537,412
135,090
1,241,001
126,637
21,425
43,860
44,473
144,529
129,562
76,599
346,370
84,116
686,338
727,371
270,197
135,859
661,647
73,987
107,125
1,190,966
560,125
701,494
145,636
107,039
742,964
178,153
131,273
70,772
327,486
911,552
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Small Cap Index Portfolio
Shares
Value
12,300
36,130
14,310
11,870
Banks (continued)
Independent Bank Corp.
International Bancshares Corp.
Lakeland Bancorp, Inc.
Lakeland Financial Corp.
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$
303,318
830,629
126,644
226,124
7,320
31,100
5,370
4,030
20,150
3,320
83,910
17,230
59,130
17,200
19,950
2,770
25,150
17,540
7,460
12,120
15,780
147,000
33,720
27,700
15,130
5,760
15,960
17,040
7,200
7,680
3,010
8,250
23,800
7,010
19,050
186,120
9,230
12,040
18,270
6,350
63,750
28,810
8,030
70,220
26,560
8,140
24,140
4,706
6,920
16,760
10,490
50,950
41,150
21,810
63,460
@, L
@
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MainSource Financial Group, Inc.
MB Financial Corp.
Merchants Bancshares, Inc.
Metro Bancorp, Inc.
Nara Bancorp., Inc.
National Bankshares, Inc.
National Penn Bancshares, Inc.
NBT Bancorp., Inc.
Old National Bancorp.
Old Second Bancorp, Inc.
Oriental Financial Group
Orrstown Financial Services, Inc.
Pacific Capital Bancorp.
PacWest Bancorp
Park National Corp.
Peoples Bancorp., Inc.
Pinnacle Financial Partners, Inc.
Premierwest Bancorp.
PrivateBancorp, Inc.
Prosperity Bancshares, Inc.
Renasant Corp.
Republic Bancorp., Inc.
S&T Bancorp, Inc.
Sandy Spring Bancorp, Inc.
Santander Bancorp.
SCBT Financial Corp.
Shore Bancshares, Inc.
Sierra Bancorp.
Signature Bank
Simmons First National Corp.
Smithtown Bancorp., Inc.
South Financial Group, Inc.
Southside Bancshares, Inc.
Southwest Bancorp., Inc.
StellarOne Corp.
Sterling Bancorp.
Sterling Bancshares, Inc.
Sterling Financial Corp.
Suffolk Bancorp
Susquehanna Bancshares, Inc.
SVB Financial Group
SY Bancorp., Inc.
Texas Capital Bancshares, Inc.
Tompkins Financial Corp.
Tower Bancorp, Inc.
TowneBank
Trico Bancshares
Trustco Bank Corp.
Trustmark Corp.
UMB Financial Corp.
Umpqua Holdings Corp.
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49,264
700,683
116,583
55,493
176,514
90,470
578,979
393,706
706,604
113,348
269,325
70,275
45,522
400,263
464,833
199,738
238,436
66,143
461,964
1,135,700
244,803
108,518
333,564
255,600
88,308
284,467
42,893
106,343
881,790
193,266
78,677
128,665
199,091
99,571
244,270
63,818
355,725
16,422
246,601
688,858
1,239,290
185,185
458,419
171,675
185,248
233,970
208,751
314,362
1,005,295
885,486
841,480
6,470
25,380
51,808
2,810
6,160
12,010
43,660
17,170
20,420
18,070
31,440
14,150
19,340
L
@
L
L
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Union First Market Bankshares Corp.
United Bankshares, Inc.
United Community Banks, Inc.
United Security Bancshares
Univest Corp. of Pennsylvania
Washington Trust Bancorp, Inc.
Webster Financial Corp.
WesBanco, Inc.
West Bancorporation, Inc.
Westamerica Bancorp.
Western Alliance Bancorp.
Wilshire Bancorp., Inc.
Wintrust Financial Corp.
97,697
665,464
228,473
42,066
115,130
223,866
763,613
279,184
134,364
1,041,736
178,894
156,075
719,641
40,132,923
4,750
1,920
6,960
46,980
12,340
@
@
Beverages: 0.2%
Boston Beer Co., Inc.
Diedrich Coffee, Inc.
Farmer Bros Co.
Heckmann Corp.
Peet’s Coffee & Tea, Inc.
@
@
@
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Biotechnology: 2.8%
Acorda Therapeutics, Inc.
Affymax, Inc.
Alnylam Pharmaceuticals, Inc.
AMAG Pharmaceuticals, Inc.
American Oriental Bioengineering, Inc.
@
@, L
248,235
66,816
130,430
272,484
489,281
1,207,246
26,160
9,430
24,250
14,540
38,350
ING
RussellTM
894,672
220,945
412,735
507,591
156,468
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Small Cap Index Portfolio
Shares
58,000
65,700
22,670
3,420
17,990
31,080
26,550
59,970
345,740
13,500
6,780
36,670
50,950
95,080
11,570
Value
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Biotechnology (continued)
Arena Pharmaceuticals, Inc.
Ariad Pharmaceuticals, Inc.
Arqule, Inc.
ARYx Therapeutics, Inc.
BioCryst Pharmaceuticals, Inc.
Cambrex Corp.
Cardium Therapeutics, Inc.
Celera Corp.
Cell Therapeutics, Inc.
Chelsea Therapeutics International, Inc.
Clinical Data, Inc.
Cubist Pharmaceuticals, Inc.
Curis, Inc.
Discovery Laboratories, Inc.
Emergent Biosolutions, Inc.
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$
179,800
223,380
130,579
2,975
118,194
125,874
11,695
425,787
186,942
47,925
131,532
826,542
156,417
49,442
194,260
10,730
33,350
69,950
19,700
59,210
39,860
119,490
21,790
26,660
50,550
57,340
89,400
29,170
74,130
20,910
20,780
28,440
41,710
22,060
16,460
49,940
28,070
1,620
81,930
23,200
43,100
37,800
32,490
36,360
51,070
41,450
75,420
63,930
36,480
@
@, L
@, S
@
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@
@, S
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@
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Enzo Biochem, Inc.
Enzon Pharmaceuticals, Inc.
Exelixis, Inc.
Facet Biotech Corp.
Geron Corp.
Halozyme Therapeutics, Inc.
Human Genome Sciences, Inc.
Idera Pharmaceuticals, Inc.
Immunogen, Inc.
Immunomedics, Inc.
Incyte Corp.
Insmed, Inc.
InterMune, Inc.
Ligand Pharmaceuticals, Inc.
Martek Biosciences Corp.
Maxygen, Inc.
Medicines Co.
Micromet, Inc.
Momenta Pharmaceuticals, Inc.
Nanosphere, Inc.
Novavax, Inc.
NPS Pharmaceuticals, Inc.
OncoGenex Pharmaceutical, Inc.
PDL BioPharma, Inc.
Protalix BioTherapeutics, Inc.
Regeneron Pharmaceuticals, Inc.
Repligen Corp.
RTI Biologics, Inc.
Sangamo Biosciences, Inc.
Seattle Genetics, Inc.
Sequenom, Inc.
StemCells, Inc.
SuperGen, Inc.
Zymogenetics, Inc.
64,595
339,503
424,597
531,703
336,313
318,481
3,608,598
135,316
215,679
167,826
800,466
105,492
1,300,107
129,728
470,684
136,525
222,970
337,017
330,238
78,843
115,361
141,473
33,259
508,785
152,192
1,141,719
153,468
140,682
197,071
609,776
261,550
87,487
204,576
209,030
19,014,865
3,910
18,900
13,540
33,460
27,680
9,310
17,600
22,200
69,430
15,520
12,108
20,650
25,110
14,430
9,250
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Building Materials: 0.7%
AAON, Inc.
Apogee Enterprises, Inc.
Broadwind Energy, Inc.
Builders FirstSource, Inc.
Comfort Systems USA, Inc.
Drew Industries, Inc.
Gibraltar Industries, Inc.
Interline Brands, Inc.
Louisiana-Pacific Corp.
LSI Industries, Inc.
NCI Building Systems, Inc.
Quanex Building Products Corp.
Simpson Manufacturing Co., Inc.
Texas Industries, Inc.
Trex Co., Inc.
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88,444
298,809
60,524
105,399
345,723
205,006
221,936
424,908
628,342
105,846
133,672
341,345
697,054
493,073
196,933
11,040
425,261
Universal Forest Products, Inc.
4,772,275
25,830
15,100
12,370
12,310
5,620
55,780
10,210
26,990
12,070
12,650
18,940
6,400
27,770
ING
RussellTM
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Chemicals: 2.0%
Aceto Corp.
American Vanguard Corp.
Arch Chemicals, Inc.
Balchem Corp.
China Green Agriculture, Inc.
Ferro Corp.
Hawkins, Inc.
HB Fuller Co.
ICO, Inc.
Innophos Holdings, Inc.
Innospec, Inc.
Kraton Performance Polymers, Inc.
Landec Corp.
156,013
123,065
425,404
303,442
78,680
490,306
247,082
626,438
97,526
352,935
215,158
114,272
184,115
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Small Cap Index Portfolio
Shares
Value
13,430
6,030
51,740
20,100
14,720
61,850
1,350
30,270
18,620
33,470
23,740
76,960
21,750
3,490
25,220
12,320
45,960
14,660
16,870
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Chemicals (continued)
Minerals Technologies, Inc.
NewMarket Corp.
Olin Corp.
OM Group, Inc.
Omnova Solutions, Inc.
PolyOne Corp.
Quaker Chemical Corp.
Rockwood Holdings, Inc.
Schulman A, Inc.
Sensient Technologies Corp.
ShengdaTech, Inc.
Solutia, Inc.
Spartech Corp.
Stepan Co.
Symyx Technologies
Westlake Chemical Corp.
WR Grace & Co.
Zep, Inc.
Zoltek Cos., Inc.
$
696,211
621,030
1,015,139
680,988
115,552
633,344
36,599
805,787
455,631
972,638
177,813
1,239,826
254,475
195,056
113,238
317,733
1,275,850
320,761
162,627
13,504,734
21,700
71,390
19,590
45,200
@
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@
Coal: 0.3%
Cloud Peak Energy, Inc.
International Coal Group, Inc.
James River Coal Co.
Patriot Coal Corp.
361,088
326,252
311,481
924,792
1,923,613
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28,950
14,080
36,060
9,780
17,450
12,030
27,400
21,210
18,890
14,660
69,330
6,900
8,250
9,580
12,550
34,080
36,930
15,790
21,490
19,500
7,450
52,360
6,790
21,880
7,400
12,800
3,890
6,610
19,260
33,150
16,640
18,310
14,180
11,980
18,120
34,870
12,720
13,170
45,440
31,290
26,380
9,610
31,440
20,360
31,780
30,110
21,960
11,490
20,990
17,320
S
@
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@
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Commercial Services: 5.9%
ABM Industries, Inc.
Administaff, Inc.
Advance America Cash Advance Centers, Inc.
Advisory Board Co.
Albany Molecular Research, Inc.
American Public Education, Inc.
American Reprographics Co.
AMN Healthcare Services, Inc.
Arbitron, Inc.
Asset Acceptance Capital Corp.
Avis Budget Group, Inc.
Barrett Business Services, Inc.
Bridgepoint Education, Inc.
Capella Education Co.
Cardtronics, Inc.
CBIZ, Inc.
Cenveo, Inc.
Chemed Corp.
ChinaCast Education Corp.
Coinstar, Inc.
Consolidated Graphics, Inc.
Corinthian Colleges, Inc.
Cornell Cos., Inc.
Corporate Executive Board Co.
Corvel Corp.
CoStar Group, Inc.
CPI Corp.
CRA International, Inc.
Cross Country Healthcare, Inc.
Deluxe Corp.
Dollar Financial Corp.
Dollar Thrifty Automotive Group
DynCorp International, Inc.
Electro Rent Corp.
Emergency Medical Services Corp.
Euronet Worldwide, Inc.
ExlService Holdings, Inc.
Forrester Research, Inc.
Gartner, Inc.
Geo Group, Inc.
Global Cash Access, Inc.
Grand Canyon Education, Inc.
Great Lakes Dredge & Dock Corp.
H&E Equipment Services, Inc.
Hackett Group, Inc.
Healthcare Services Group
Heartland Payment Systems, Inc.
Heidrick & Struggles International, Inc.
Hill International, Inc.
HMS Holdings Corp.
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613,740
300,467
209,869
308,070
145,708
560,598
245,778
186,648
503,607
92,505
797,295
93,530
202,785
889,407
157,754
223,906
319,814
858,660
157,092
633,750
308,505
921,012
124,325
581,789
264,550
531,456
53,915
151,501
194,719
643,773
400,358
588,300
162,928
157,297
1,024,686
642,654
212,170
396,022
1,010,586
620,168
215,525
251,205
165,060
219,481
88,348
674,163
408,456
322,065
122,372
883,147
14,750
5,850
21,080
15,510
15,530
ING
RussellTM
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Huron Consulting Group, Inc.
ICF International, Inc.
Jackson Hewitt Tax Service, Inc.
K12, Inc.
Kelly Services, Inc.
299,425
145,314
42,160
344,477
258,730
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Small Cap Index Portfolio
Shares
Value
12,750
13,700
25,030
27,630
7,180
2,650
5,990
88,427
12,630
15,780
8,880
64,530
11,010
9,760
33,170
21,480
20,780
36,060
31,090
3,880
5,230
44,540
30,340
3,400
17,190
26,160
34,720
38,630
43,080
7,040
9,880
47,750
29,160
9,300
12,300
19,940
19,370
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Commercial Services (continued)
Kendle International, Inc.
Kenexa Corp.
Kforce, Inc.
Korn/Ferry International
Landauer, Inc.
Learning Tree International, Inc.
Lincoln Educational Services Corp.
Live Nation, Inc.
MAXIMUS, Inc.
McGrath Rentcorp
Medifast, Inc.
MoneyGram International, Inc.
Monro Muffler, Inc.
Multi-Color Corp.
Navigant Consulting, Inc.
Net 1 UEPS Technologies, Inc.
On Assignment, Inc.
Parexel International Corp.
PHH Corp.
Pre-Paid Legal Services, Inc.
Providence Service Corp.
Rent-A-Center, Inc.
Resources Connection, Inc.
Rewards Network, Inc.
Riskmetrics Group, Inc.
Rollins, Inc.
RSC Holdings, Inc.
SFN Group, Inc.
Sotheby’s
Standard Parking Corp.
Steiner Leisure Ltd.
Stewart Enterprises, Inc.
SuccessFactors, Inc.
Team Health Holdings, Inc.
Team, Inc.
TeleTech Holdings, Inc.
TNS, Inc.
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$
222,870
188,375
380,706
487,670
468,280
37,286
151,547
1,282,192
769,546
382,349
223,154
245,859
393,718
116,925
402,352
395,017
148,161
840,559
732,791
146,858
79,444
1,053,371
581,618
45,560
388,666
567,149
276,371
309,426
1,339,357
115,597
437,882
298,438
555,206
156,194
204,057
340,575
431,951
30,190
5,700
5,170
27,920
33,140
13,270
32,240
10,660
4,330
26,520
@
@
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@
@
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Towers Watson & Co.
Transcend Services, Inc.
Tree.com, Inc.
TrueBlue, Inc.
United Rentals, Inc.
Universal Technical Institute, Inc.
Valassis Communications, Inc.
Viad Corp.
Volt Information Sciences, Inc.
Wright Express Corp.
1,434,025
92,597
47,306
432,760
310,853
302,821
897,239
219,063
44,209
798,782
40,708,357
12,710
21,240
23,660
18,940
44,710
23,200
12,790
10,270
17,200
22,540
36,420
6,600
20,530
21,250
23,310
30,710
18,740
24,610
55,530
32,210
17,540
14,570
68,570
17,910
8,200
4,520
26,420
31,210
19,540
112,450
4,650
160,030
20,780
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Computers: 2.2%
3D Systems Corp.
3PAR, Inc.
Agilysys, Inc.
CACI International, Inc.
Ciber, Inc.
Cogo Group, Inc.
Compellent Technologies, Inc.
COMSYS IT Partners, Inc.
Cray, Inc.
Echelon Corp.
Electronics for Imaging
Fortinet, Inc.
iGate Corp.
Imation Corp.
Immersion Corp.
Insight Enterprises, Inc.
Integral Systems, Inc.
Isilon Systems, Inc.
Jack Henry & Associates, Inc.
LivePerson, Inc.
Manhattan Associates, Inc.
Maxwell Technologies, Inc.
Mentor Graphics Corp.
Mercury Computer Systems, Inc.
MTS Systems Corp.
NCI, Inc.
Ness Technologies, Inc.
Netezza Corp.
Netscout Systems, Inc.
Palm, Inc.
PAR Technology Corp.
Quantum Corp.
Radiant Systems, Inc.
ING RussellTM Small Cap Index Portfolio
173,492
212,400
264,282
925,219
167,215
162,168
224,465
179,520
102,340
202,184
423,565
116,028
199,757
233,963
116,550
440,996
180,466
211,892
1,336,052
247,051
446,919
180,522
549,931
245,725
238,046
136,640
166,710
399,176
288,997
422,812
28,133
420,879
296,531
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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Shares
Value
16,060
6,100
34,930
26,970
48,200
25,610
27,360
11,710
13,120
13,820
22,720
22,770
9,150
27,214
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Computers (continued)
Radisys Corp.
Rimage Corp.
Riverbed Technolgoy, Inc.
Silicon Graphics International Corp.
Silicon Storage Technology, Inc.
Smart Modular Technologies, Inc.
SRA International, Inc.
STEC, Inc.
Stratasys, Inc.
Super Micro Computer, Inc.
SYKES Enterprises, Inc.
Synaptics, Inc.
Syntel, Inc.
Unisys Corp.
$
143,898
88,176
992,012
288,309
146,287
197,453
568,814
140,286
319,866
238,810
518,925
628,680
352,001
949,496
15,513,639
17,290
5,470
15,740
@
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Cosmetics/Personal Care: 0.1%
Elizabeth Arden, Inc.
Inter Parfums, Inc.
Revlon, Inc. - Class A
311,220
81,065
233,739
626,024
27,680
7,750
21,550
32,990
9,570
9,350
31,350
13,790
8,390
28,720
31,770
6,700
15,930
11,460
8,640
15,300
17,460
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Distribution/Wholesale: 1.1%
Beacon Roofing Supply, Inc.
BlueLinx Holdings, Inc.
BMP Sunstone Corp.
Brightpoint, Inc.
Chindex International, Inc.
Core-Mark Holding Co., Inc.
Fossil, Inc.
Houston Wire & Cable Co.
MWI Veterinary Supply, Inc.
Owens & Minor, Inc.
Pool Corp.
Rentrak Corp.
Scansource, Inc.
School Specialty, Inc.
Titan Machinery, Inc.
United Stationers, Inc.
Watsco, Inc.
529,518
29,528
109,043
248,415
113,022
286,204
1,183,149
159,688
338,956
1,332,321
719,273
144,385
458,465
260,257
118,282
900,405
993,125
7,924,036
19,600
28,440
43,530
10,370
8,770
7,050
16,100
4,750
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Diversified Financial Services: 1.9%
Artio Global Investors, Inc.
BGC Partners, Inc.
Broadpoint Gleacher Securities, Inc.
Calamos Asset Management, Inc.
Cohen & Steers, Inc.
CompuCredit Holdings Corp.
Cowen Group, Inc.
Credit Acceptance Corp.
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484,904
173,768
174,120
148,706
218,899
36,378
91,046
195,890
750
12,380
1,021,710
12,260
5,160
6,830
13,990
36,850
4,740
42,310
7,955
12,430
22,770
60,700
36,520
24,770
64,200
30,280
12,000
14,100
27,850
4,660
30,550
16,290
12,630
9,220
4,000
24,550
20,890
16,930
22,440
27,200
5,120
6,380
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Diamond Hill Investment Group, Inc.
Duff & Phelps Corp.
E*Trade Financial Corp.
Encore Capital Group, Inc.
Epoch Holding Corp.
Evercore Partners, Inc.
FBR Capital Markets Corp.
First Marblehead Corp.
GAMCO Investors, Inc.
GFI Group, Inc.
International Assets Holding Corp.
JMP Group, Inc.
KBW, Inc.
Knight Capital Group, Inc.
LaBranche & Co., Inc.
MarketAxess Holdings, Inc.
MF Global Holdings, Ltd.
National Financial Partners Corp.
Nelnet, Inc.
NewStar Financial, Inc.
Ocwen Financial Corp.
Oppenheimer Holdings, Inc.
OptionsXpress Holdings, Inc.
Penson Worldwide, Inc.
Piper Jaffray Cos.
Portfolio Recovery Associates, Inc.
Pzena Investment Management, Inc.
Sanders Morris Harris Group, Inc.
Stifel Financial Corp.
SWS Group, Inc.
Thomas Weisel Partners Group, Inc.
TradeStation Group, Inc.
US Global Investors, Inc.
Virtus Investment Partners
51,450
207,241
1,685,822
201,677
58,256
204,900
63,655
104,654
215,670
244,552
119,086
105,655
612,513
925,675
192,095
389,632
518,094
426,948
222,720
89,958
308,857
118,877
497,660
164,040
508,989
505,901
30,520
151,965
1,122,838
195,203
87,965
190,672
50,637
132,959
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING RussellTM Small Cap Index Portfolio
Shares
Value
6,080
10,760
@, L
Diversified Financial Services (continued)
Westwood Holdings Group, Inc.
World Acceptance, Corp.
$
223,744
388,221
12,843,012
18,980
34,880
25,850
6,060
Electric: 1.6%
Allete, Inc.
Avista Corp.
Black Hills Corp.
Central Vermont Public Service Corp.
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635,450
722,365
784,548
122,230
9,590
40,790
33,140
21,990
9,130
31,000
14,660
24,850
21,000
9,560
54,570
44,930
19,070
25,030
6,400
L
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CH Energy Group, Inc.
Cleco Corp.
El Paso Electric Co.
Empire District Electric Co.
Enernoc, Inc.
Idacorp, Inc.
MGE Energy, Inc.
NorthWestern Corp.
Otter Tail Corp.
Pike Electric Corp.
PNM Resources, Inc.
Portland General Electric Co.
UIL Holdings Corp.
Unisource Energy Corp.
Unitil Corp.
391,656
1,082,975
682,684
396,260
270,978
1,073,220
518,378
666,229
461,160
89,099
683,762
867,598
524,425
786,943
148,800
10,908,760
42,940
21,450
29,160
28,750
33,950
13,810
32,450
30,560
24,010
123,340
19,430
10,200
80,710
5,520
9,860
12,330
7,900
14,480
9,450
3,600
54,420
15,950
36,430
4,000
7,210
20,770
9,990
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Electrical Components & Equipment: 1.0%
Advanced Battery Technologies, Inc.
Advanced Energy Industries, Inc.
American Superconductor Corp.
Belden CDT, Inc.
China BAK Battery, Inc.
Encore Wire Corp.
Ener1, Inc.
Energy Conversion Devices, Inc.
EnerSys
Evergreen Solar, Inc.
Fushi Copperweld, Inc.
Generac Holdings, Inc.
GrafTech International Ltd.
Graham Corp.
Harbin Electric, Inc.
Insteel Industries, Inc.
Lihua International, Inc.
Littelfuse, Inc.
Orion Energy Systems, Inc.
Powell Industries, Inc.
Power-One, Inc.
PowerSecure International, Inc.
SatCon Technology Corp.
SmartHeat, Inc.
Ultralife Corp.
Universal Display Corp.
Vicor Corp.
167,466
355,212
842,724
789,475
81,820
287,248
153,489
239,285
592,087
139,374
218,005
142,851
1,103,306
99,305
212,877
131,808
72,483
550,385
46,305
117,108
229,652
125,686
88,525
42,960
28,912
244,463
137,962
7,240,773
6,060
9,400
9,920
7,960
45,600
@
Electronics: 2.4%
American Science & Engineering, Inc.
Analogic Corp.
Badger Meter, Inc.
Bel Fuse, Inc.
Benchmark Electronics, Inc.
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454,015
401,662
382,019
160,394
945,744
33,520
25,990
23,150
26,530
15,920
22,400
21,840
22,710
11,600
18,140
13,930
22,950
14,000
16,910
50,800
3,650
10,840
22,060
51,390
4,750
14,570
4,300
10,260
ING
RussellTM
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Brady Corp.
Checkpoint Systems, Inc.
China Security & Surveillance Technology, Inc.
Cogent, Inc.
Coherent, Inc.
CTS Corp.
Cymer, Inc.
Daktronics, Inc.
Dionex Corp.
Electro Scientific Industries, Inc.
Faro Technologies, Inc.
FEI Co.
ICX Technologies
II-VI, Inc.
L-1 Identity Solutions, Inc.
LaBarge, Inc.
Measurement Specialties, Inc.
Methode Electronics, Inc.
Microvision, Inc.
Multi-Fineline Electronix, Inc.
Newport Corp.
NVE Corp.
OSI Systems, Inc.
1,043,142
574,899
178,024
270,606
508,803
211,008
814,632
173,050
867,448
232,373
358,698
525,785
97,510
572,234
453,644
40,333
159,456
218,394
144,920
122,360
182,125
194,790
287,793
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Small Cap Index Portfolio
Shares
Value
11,710
25,570
17,370
11,190
19,300
44,020
26,180
27,880
19,060
19,070
40,780
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Electronics (continued)
Park Electrochemical Corp.
Plexus Corp.
Rofin-Sinar Technologies, Inc.
Rogers Corp.
Stoneridge, Inc.
Taser International, Inc.
Technitrol, Inc.
TTM Technologies, Inc.
Varian, Inc.
Watts Water Technologies, Inc.
Woodward Governor Co.
$
336,545
921,287
392,909
324,622
190,877
257,957
138,230
247,574
986,927
592,314
1,304,144
16,269,247
24,340
12,910
51,840
7,670
37,970
11,230
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Energy - Alternate Sources: 0.2%
Clean Energy Fuels Corp.
Comverge, Inc.
FuelCell Energy, Inc.
Green Plains Renewable Energy, Inc.
Headwaters, Inc.
Rex Stores Corp.
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554,465
146,012
146,189
109,451
174,282
181,926
43,420
@
Syntroleum Corp.
92,050
1,404,375
24,660
40,310
33,700
11,690
22,440
25,890
11,220
6,600
9,000
19,190
16,710
8,460
8,600
18,180
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Engineering & Construction: 0.7%
Dycom Industries, Inc.
EMCOR Group, Inc.
ENGlobal Corp.
Exponent, Inc.
Granite Construction, Inc.
Insituform Technologies, Inc.
Layne Christensen Co.
Michael Baker Corp.
Mistras Group, Inc.
MYR Group, Inc./Delaware
Orion Marine Group, Inc.
Stanley, Inc.
Sterling Construction Co., Inc.
Tutor Perini Corp.
216,268
992,835
93,349
333,399
678,137
688,933
299,686
227,568
89,865
312,989
301,616
239,333
135,192
395,415
5,004,585
10,160
38,000
9,910
4,970
22,420
20,890
9,150
28,300
36,140
35,980
9,860
17,260
19,580
@
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Entertainment: 0.7%
Ascent Media Corp.
Bally Technologies, Inc.
Carmike Cinemas, Inc.
Churchill Downs, Inc.
Cinemark Holdings, Inc.
Dover Downs Gaming & Entertainment, Inc.
Isle of Capri Casinos, Inc.
National CineMedia, Inc.
Pinnacle Entertainment, Inc.
Shuffle Master, Inc.
Speedway Motorsports, Inc.
Vail Resorts, Inc.
Youbet.com, Inc.
276,860
1,540,520
137,452
186,375
411,183
82,724
71,187
488,458
352,004
294,676
153,915
691,953
57,565
4,744,872
33,580
15,170
57,170
22,510
51,060
10,730
32,910
15,930
22,820
27,380
37,350
11,010
13,490
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Environmental Control: 0.7%
Calgon Carbon Corp.
Clean Harbors, Inc.
Darling International, Inc.
Energy Recovery, Inc.
Energy Solutions, Inc.
Fuel Tech, Inc.
Metalico, Inc.
Met-Pro Corp.
Mine Safety Appliances Co.
Perma-Fix Environmental Services
Tetra Tech, Inc.
US Ecology, Inc.
Waste Services, Inc.
574,890
842,845
512,243
141,813
328,316
86,055
197,131
156,114
638,047
61,331
860,544
177,261
133,416
4,710,006
6,640
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Food: 1.8%
American Dairy, Inc.
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127,156
14,430
660
17,890
9,670
8,400
28,220
10,080
24,100
30,110
21,350
23,930
13,900
15,660
ING
RussellTM
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American Italian Pasta Co.
Arden Group, Inc.
B&G Foods, Inc.
Calavo Growers, Inc.
Cal-Maine Foods, Inc.
Chiquita Brands International, Inc.
Diamond Foods, Inc.
Dole Food Co., Inc.
Fresh Del Monte Produce, Inc.
Great Atlantic & Pacific Tea Co.
Hain Celestial Group, Inc.
HQ Sustainable Maritime Industries, Inc.
Imperial Sugar Co.
560,894
70,145
187,487
176,381
284,676
443,901
423,763
285,585
609,728
163,755
415,186
83,400
242,887
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Small Cap Index Portfolio
Shares
Value
10,540
12,320
13,830
21,300
5,340
8,930
8,200
30,270
13,640
110
6,330
41,210
15,140
15,270
21,210
29,030
3,210
8,200
38,200
12,770
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Food (continued)
Ingles Markets, Inc.
J&J Snack Foods Corp.
Lancaster Colony Corp.
Lance, Inc.
M&F Worldwide Corp.
Nash Finch Co.
Overhill Farms, Inc.
Ruddick Corp.
Sanderson Farms, Inc.
Seaboard Corp.
Seneca Foods Corp.
Smart Balance, Inc.
Spartan Stores, Inc.
Tootsie Roll Industries, Inc.
TreeHouse Foods, Inc.
United Natural Foods, Inc.
Village Super Market
Weis Markets, Inc.
Winn-Dixie Stores, Inc.
Zhongpin, Inc.
$
158,416
535,550
815,417
492,669
163,404
300,495
47,806
957,743
731,240
142,901
184,330
267,041
218,319
412,748
930,483
816,614
89,976
298,152
477,118
162,179
12,277,545
19,370
25,680
10,000
8,458
6,480
27,140
29,810
@, S
@
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Forest Products & Paper: 0.7%
Boise, Inc.
Buckeye Technologies, Inc.
Cellu Tissue Holdings, Inc.
Clearwater Paper Corp.
Deltic Timber Corp.
Domtar Corp.
Glatfelter
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118,738
335,894
99,750
416,557
285,444
1,748,087
431,947
22,900
10,140
3,850
11,760
27,010
@
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KapStone Paper and Packaging Corp.
Neenah Paper, Inc.
Orchids Paper Products Co.
Schweitzer-Mauduit International, Inc.
Wausau Paper Corp.
271,823
160,618
63,333
559,306
230,665
4,722,162
3,980
16,600
30,270
29,100
20,100
50,850
21,990
30,370
36,920
L
Gas: 1.2%
Chesapeake Utilities Corp.
Laclede Group, Inc.
New Jersey Resources Corp.
Nicor, Inc.
Northwest Natural Gas Co.
Piedmont Natural Gas Co.
South Jersey Industries, Inc.
Southwest Gas Corp.
WGL Holdings, Inc.
118,604
559,752
1,136,941
1,219,872
936,660
1,402,443
923,360
908,670
1,279,278
8,485,580
31,240
16,320
1,220
22,390
@
Hand/Machine Tools: 0.5%
Baldor Electric Co.
Franklin Electric Co., Inc.
K-Tron International, Inc.
Regal-Beloit Corp.
1,168,376
489,437
182,963
1,330,190
3,170,966
12,380
20,380
20,370
41,500
8,300
39,250
30,340
47,760
18,200
1,330
52,890
13,462
33,030
3,300
35,260
18,800
37,500
21,630
13,540
25,450
13,090
16,990
14,180
23,320
30,280
14,840
37,130
@
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Healthcare - Products: 4.0%
Abaxism, Inc.
Abiomed, Inc.
Accuray, Inc.
Affymetrix, Inc.
AGA Medical Holdings, Inc.
Align Technology, Inc.
Alphatec Holdings, Inc.
American Medical Systems Holdings, Inc.
Angiodynamics, Inc.
Atrion Corp.
ATS Medical, Inc.
BioMimetic Therapeutics, Inc.
Bruker BioSciences Corp.
Cantel Medical Corp.
Cardiac Science Corp.
CardioNet, Inc.
Cepheid, Inc.
Conceptus, Inc.
Conmed Corp.
CryoLife, Inc.
Cutera, Inc.
Cyberonics
Cynosure, Inc.
Delcath Systems, Inc.
DexCom, Inc.
Electro-Optical Sciences, Inc.
Endologix, Inc.
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336,612
210,525
124,053
304,610
134,875
759,095
193,266
887,381
284,284
190,243
137,514
177,025
483,890
65,505
65,936
143,820
655,500
431,735
322,387
164,662
135,743
325,528
159,383
188,892
294,624
110,113
150,005
44,220
5,910
ING
RussellTM
@
@
ev3, Inc.
Exactech, Inc.
701,329
123,933
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Small Cap Index Portfolio
Shares
Value
8,500
9,530
15,380
17,790
18,040
17,430
8,563
6,680
49,440
20,050
9,130
24,760
11,390
9,140
19,460
27,380
12,600
34,010
17,460
28,990
15,610
17,260
19,430
26,580
16,670
36,250
10,680
49,880
15,360
44,730
13,650
19,630
11,430
9,400
12,120
19,920
22,070
41,720
10,170
20,090
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Healthcare - Products (continued)
Female Health Co.
Genomic Health, Inc.
Greatbatch, Inc.
Haemonetics Corp.
Hanger Orthopedic Group, Inc.
Hansen Medical, Inc.
HeartWare International, Inc.
ICU Medical, Inc.
Immucor, Inc.
Insulet Corp.
Integra LifeSciences Holdings Corp.
Invacare Corp.
IRIS International, Inc.
Kensey Nash Corp.
LCA-Vision, Inc.
Luminex Corp.
MAKO Surgical Corp.
Masimo Corp.
Medical Action Industries, Inc.
Meridian Bioscience, Inc.
Merit Medical Systems, Inc.
Micrus Endovascular Corp.
Natus Medical, Inc.
NuVasive, Inc.
NxStage Medical, Inc.
OraSure Technologies, Inc.
Orthofix International NV
Orthovita, Inc.
Palomar Medical Technologies, Inc.
PSS World Medical, Inc.
Quidel Corp.
Rockwell Medical Technologies, Inc.
Sirona Dental Systems, Inc.
Somanetics Corp.
SonoSite, Inc.
Spectranetics Corp.
Stereotaxis, Inc.
Steris Corp.
SurModics, Inc.
Symmetry Medical, Inc.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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$
60,945
167,633
325,902
1,016,699
327,967
39,915
380,797
230,126
1,106,962
302,555
400,168
657,130
116,292
215,613
161,907
460,805
169,848
902,966
214,234
590,526
238,053
340,367
309,131
1,201,416
190,872
214,963
388,538
212,489
166,810
1,051,602
198,471
113,461
434,683
179,916
389,173
137,647
110,571
1,404,295
212,960
201,704
6,000
35,780
43,890
10,560
32,310
21,980
22,900
14,110
@
@
@
@
@
@
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Synovis Life Technologies, Inc.
Thoratec Corp.
TomoTherapy, Inc.
Vital Images, Inc.
Volcano Corp.
West Pharmaceutical Services, Inc.
Wright Medical Group, Inc.
Zoll Medical Corp.
93,180
1,196,841
149,665
170,755
780,610
922,061
406,933
371,940
27,900,565
6,920
17,810
5,970
18,690
9,350
5,220
33,950
20,440
6,110
11,470
28,980
30,240
11,880
7,220
11,650
17,440
58,720
32,870
24,420
12,270
21,700
9,510
27,300
13,250
8,240
5,170
23,600
23,440
17,920
36,360
15,990
11,780
@
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Healthcare - Services: 2.2%
Air Methods Corp.
Alliance Imaging, Inc.
Almost Family, Inc.
Amedisys, Inc.
America Service Group, Inc.
American Dental Partners, Inc.
AMERIGROUP Corp.
Amsurg Corp.
Assisted Living Concepts, Inc.
Bio-Reference Labs, Inc.
Capital Senior Living Corp.
Centene Corp.
Emeritus Corp.
Ensign Group, Inc.
Genoptix, Inc.
Gentiva Health Services, Inc.
Healthsouth Corp.
Healthspring, Inc.
Healthways, Inc.
IPC The Hospitalist Co., Inc.
Kindred Healthcare, Inc.
LHC Group, Inc.
Magellan Health Services, Inc.
Medcath Corp.
Molina Healthcare, Inc.
National Healthcare Corp.
Nighthawk Radiology Holdings, Inc.
Novamed, Inc.
Odyssey HealthCare, Inc.
Psychiatric Solutions, Inc.
RadNet, Inc.
RehabCare Group, Inc.
235,280
100,092
225,009
1,032,062
150,442
68,121
1,128,498
441,300
200,652
504,336
152,435
726,970
241,758
125,123
413,459
493,203
1,098,064
578,512
392,429
430,800
391,685
318,870
1,187,004
138,728
207,401
182,915
74,930
79,696
324,531
1,083,528
50,848
321,241
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING RussellTM Small Cap Index Portfolio
Shares
Value
Healthcare - Services (continued)
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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17,450
23,800
12,910
28,200
30,350
12,770
28,900
@
@
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Res-Care, Inc.
Select Medical Holdings Corp.
Skilled Healthcare Group, Inc.
Sun Healthcare Group, Inc.
Sunrise Senior Living, Inc.
Triple-S Management Corp.
WellCare Health Plans, Inc.
$
209,226
200,872
79,655
269,028
155,392
226,668
861,220
15,101,983
17,930
Holding Companies - Diversified: 0.0%
Compass Diversified Trust
40,600
12,600
4,560
19,270
39,560
11,580
21,410
29,550
6,770
76,180
19,980
Home Builders: 0.4%
Beazer Homes USA, Inc.
Brookfield Homes Corp.
Cavco Industries, Inc.
China Housing & Land Development, Inc.
Hovnanian Enterprises, Inc.
M/I Homes, Inc.
Meritage Homes Corp.
Ryland Group, Inc.
Skyline Corp.
Standard-Pacific Corp.
Winnebago Industries
273,612
273,612
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184,324
110,061
155,678
73,226
172,086
169,647
449,610
663,102
125,922
344,334
291,908
2,739,898
11,040
10,300
10,180
14,340
26,810
10,820
22,980
32,400
20,440
5,150
48,510
70,020
11,050
@
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Home Furnishings: 0.7%
American Woodmark Corp.
Audiovox Corp.
DTS, Inc.
Ethan Allen Interiors, Inc.
Furniture Brands International, Inc.
Hooker Furniture Corp.
Kimball International, Inc.
La-Z-Boy, Inc.
Sealy Corp.
Stanley Furniture Co., Inc.
Tempur-Pedic International, Inc.
Tivo, Inc.
Universal Electronics, Inc.
214,066
80,083
346,527
295,834
172,388
173,986
159,711
406,296
71,540
52,324
1,463,062
1,198,742
246,857
4,881,416
47,160
25,520
3,800
43,000
6,890
22,720
19,510
18,680
23,590
43,490
@
@
@
@
Household Products/Wares: 0.7%
ACCO Brands Corp.
American Greetings Corp.
Blyth, Inc.
Central Garden & Pet Co.
CSS Industries, Inc.
Ennis, Inc.
Helen of Troy Ltd.
Prestige Brands Holdings, Inc.
Standard Register Co.
Tupperware Corp.
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361,246
531,837
118,750
393,880
138,489
369,654
508,431
168,120
126,207
2,097,088
10,790
354,236
WD-40 Co.
5,167,938
194,680
37,420
9,530
3,620
6,300
13,720
19,630
21,690
79,770
10,200
21,770
13,870
166,500
16,870
27,440
19,180
39,930
4,120
9,170
10,230
20,560
8,565
20,050
10,960
27,070
11,150
4,981
4,955
33,700
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Insurance: 3.4%
AMBAC Financial Group, Inc.
American Equity Investment Life Holding Co.
American Physicians Capital, Inc.
American Physicians Service Group, Inc.
American Safety Insurance Holdings Ltd.
Amerisafe, Inc.
Amtrust Financial Services, Inc.
Argo Group International Holdings Ltd.
Assured Guaranty Ltd.
Baldwin & Lyons, Inc.
Citizens, Inc.
CNA Surety Corp.
Conseco, Inc.
Crawford & Co.
Delphi Financial Group
eHealth, Inc.
Employers Holdings, Inc.
Enstar Group Ltd.
FBL Financial Group, Inc.
First Mercury Financial Corp.
Flagstone Reinsurance Holdings Ltd.
Fpic Insurance Group, Inc.
Greenlight Capital Re Ltd.
Harleysville Group, Inc.
Horace Mann Educators Corp.
Infinity Property & Casualty Corp.
Kansas City Life Insurance Co.
Life Partners Holdings, Inc.
Maiden Holdings Ltd.
108,398
398,523
304,484
90,500
104,486
224,596
273,839
706,877
1,752,547
245,718
150,431
246,747
1,035,630
68,661
690,390
302,085
592,961
284,939
224,482
133,297
235,618
232,197
534,934
370,010
407,674
506,656
157,300
109,852
249,043
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING RussellTM Small Cap Index Portfolio
Shares
Value
34,580
32,000
5,700
85,850
54,160
8,590
1,365
7,630
82,010
32,640
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Insurance (continued)
Max Re Capital Ltd.
Meadowbrook Insurance Group, Inc.
Mercer Insurance Group, Inc.
MGIC Investment Corp.
Montpelier Re Holdings Ltd.
National Interstate Corp.
National Western Life Insurance Co.
Navigators Group, Inc.
Phoenix Cos., Inc.
Platinum Underwriters Holdings Ltd.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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$
794,994
252,800
102,600
941,775
910,430
177,899
251,638
300,088
198,464
1,210,291
23,390
45,150
15,080
4,510
21,540
54,500
11,590
9,120
23,920
38,490
10,180
12,100
26,254
38,486
15,420
16,920
15,100
23,250
@
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PMA Capital Corp.
PMI Group, Inc.
Presidential Life Corp.
Primus Guaranty Ltd.
ProAssurance Corp.
Radian Group, Inc.
RLI Corp.
Safety Insurance Group, Inc.
SeaBright Insurance Holdings, Inc.
Selective Insurance Group
State Auto Financial Corp.
Stewart Information Services Corp.
Tower Group, Inc.
United America Indemnity Ltd.
United Fire & Casualty Co.
Universal American Financial Corp.
Universal Insurance Holdings
Zenith National Insurance Corp.
143,615
244,713
150,348
18,942
1,260,952
852,380
660,862
343,550
263,359
638,934
182,731
166,980
582,051
368,311
277,406
260,568
76,331
890,940
23,266,827
9,430
86,560
21,380
25,760
8,920
31,000
16,000
14,040
43,850
27,440
5,600
26,680
82,160
63,100
1,750
29,370
14,052
17,090
9,700
21,260
46,170
13,620
19,850
71,300
28,670
16,060
20,850
14,100
23,180
10,240
9,140
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Internet: 2.9%
AboveNet, Inc.
Art Technology Group, Inc.
AsiaInfo Holdings, Inc.
Blue Coat Systems, Inc.
Blue Nile, Inc.
Cogent Communications Group, Inc.
comScore, Inc.
Constant Contact, Inc.
Cybersource Corp.
DealerTrack Holdings, Inc.
Dice Holdings, Inc.
Digital River, Inc.
Drugstore.Com
Earthlink, Inc.
ePlus, Inc.
eResearch Technology, Inc.
Global Sources Ltd.
GSI Commerce, Inc.
Health Grades, Inc.
Infospace, Inc.
Internap Network Services Corp.
Internet Brands, Inc.
Internet Capital Group, Inc.
Ipass, Inc.
j2 Global Communications, Inc.
Keynote Systems, Inc.
Knot, Inc.
Limelight Networks, Inc.
Lionbridge Technologies
Liquidity Services, Inc.
LoopNet, Inc.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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478,384
381,730
566,142
799,590
490,778
322,710
267,040
326,009
773,514
468,675
42,560
808,404
293,311
538,874
30,713
202,947
91,479
472,880
61,692
234,923
258,552
125,576
167,733
81,639
670,878
182,923
163,047
51,606
84,143
118,170
102,734
17,550
33,240
93,250
25,760
21,240
25,440
2,250
44,240
26,890
10,360
22,500
18,980
41,410
54,800
35,420
10,800
6,793
62,100
10,110
35,570
14,470
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Mercadolibre, Inc.
Moduslink Global Solutions, Inc.
Move, Inc.
NIC, Inc.
Nutri/System, Inc.
Online Resources Corp.
OpenTable, Inc.
Openwave Systems, Inc.
Orbitz Worldwide, Inc.
Overstock.com, Inc.
PC-Tel, Inc.
Perficient, Inc.
Rackspace Hosting, Inc.
RealNetworks, Inc.
S1 Corp.
Saba Software, Inc.
Safeguard Scientifics, Inc.
Sapient Corp.
Shutterfly, Inc.
SonicWALL, Inc.
Sourcefire, Inc.
846,086
280,213
194,893
202,731
378,284
102,523
85,793
101,752
191,188
168,350
139,050
213,905
775,609
264,684
208,978
53,460
88,309
567,594
243,550
309,103
332,087
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING RussellTM Small Cap Index Portfolio
Shares
15,380
52,450
4,950
38,230
37,880
109,300
49,733
1,920
54,750
18,230
10,300
10,110
20,660
27,770
58,500
Value
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Internet (continued)
Stamps.com, Inc.
support.com, Inc.
TechTarget, Inc.
TeleCommunication Systems, Inc.
Terremark Worldwide, Inc.
TIBCO Software, Inc.
United Online, Inc.
US Auto Parts Network, Inc.
Valueclick, Inc.
Vasco Data Security Intl.
Vitacost.com, Inc.
Vocus, Inc.
Web.com Group, Inc.
Websense, Inc.
Zix Corp.
$
155,338
171,512
25,889
280,226
265,539
1,179,347
372,003
14,438
555,165
150,398
124,064
172,376
112,597
632,323
135,135
19,753,848
118,420
179,890
102,310
76,010
S
@, S
Investment Companies: 1.0%
Allied Capital Corp.
American Capital Ltd.
Apollo Investment Corp.
Ares Capital Corp.
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588,547
913,841
1,302,406
1,127,988
12,650
2,120
15,670
19,640
9,250
26,700
29,955
16,110
8,350
49,200
10,500
15,150
27,070
19,430
40,090
5,200
7,800
L
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BlackRock Kelso Capital Corp.
Capital Southwest Corp.
Fifth Street Finance Corp
Gladstone Capital Corp.
Gladstone Investment Corp.
Harris & Harris Group, Inc.
Hercules Technology Growth Capital, Inc.
Kohlberg Capital Corp.
Main Street Capital Corp.
MCG Capital Corp.
Medallion Financial Corp.
MVC Capital, Inc.
NGP Capital Resources Co.
PennantPark Investment Corp.
Prospect Capital Corp.
Solar Capital Ltd.
Triangle Capital Corp.
125,994
192,666
181,929
231,752
55,315
123,087
317,223
91,183
130,344
256,332
83,528
205,586
230,636
201,295
487,094
109,902
109,512
7,066,160
16,920
7,550
23,800
5,100
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Iron/Steel: 0.0%
China Precision Steel, Inc.
General Steel Holdings, Inc.
Sutor Technology Group Ltd.
Universal Stainless & Alloy
35,532
31,031
68,901
122,349
257,813
9,540
58,460
44,850
26,750
25,000
16,250
19,800
23,100
9,160
@
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Leisure Time: 0.6%
Ambassadors Group, Inc.
Brunswick Corp.
Callaway Golf Co.
Interval Leisure Group, Inc.
Life Time Fitness, Inc.
Marine Products Corp.
Polaris Industries, Inc.
Town Sports International Holdings, Inc.
Universal Travel Group
105,417
933,606
395,577
389,480
702,500
97,500
1,012,968
90,321
90,776
3,818,145
14,680
25,440
12,980
5,020
58,200
11,800
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Lodging: 0.3%
Ameristar Casinos, Inc.
Gaylord Entertainment Co.
Marcus Corp.
Monarch Casino & Resort, Inc.
Orient-Express Hotels Ltd.
Red Lion Hotels Corp.
267,470
745,138
168,610
42,871
825,276
85,137
2,134,502
13,210
@
Machinery - Construction & Mining: 0.1%
Astec Industries, Inc.
382,562
382,562
5,300
15,690
17,330
@
Machinery - Diversified: 1.3%
Alamo Group, Inc.
Albany International Corp.
Altra Holdings, Inc.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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105,921
337,806
237,941
26,410
33,170
5,430
19,350
28,140
10,040
8,200
6,700
41,200
9,290
5,500
@
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Applied Industrial Technologies, Inc.
Briggs & Stratton Corp.
Cascade Corp.
Chart Industries, Inc.
Cognex Corp.
Columbus McKinnon Corp.
Duoyuan Printing, Inc.
DXP Enterprises, Inc.
Flow International Corp.
Gorman-Rupp Co.
Hurco Cos, Inc.
656,289
646,815
174,900
387,000
520,309
159,335
88,519
85,526
123,806
236,338
92,538
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING RussellTM Small Cap Index Portfolio
Shares
Value
42,300
15,540
14,680
8,740
7,940
11,376
3,750
23,760
39,710
18,120
7,500
16,560
12,180
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@
Machinery - Diversified (continued)
Intermec, Inc.
Intevac, Inc.
iRobot Corp.
Kadant, Inc.
Lindsay Manufacturing Co.
Middleby Corp.
Nacco Industries, Inc.
Nordson Corp.
Raser Technologies, Inc.
Robbins & Myers, Inc.
Sauer-Danfoss, Inc.
Tecumseh Products Co.
Tennant Co.
$
599,814
214,763
222,549
125,943
328,795
655,144
278,063
1,613,779
39,710
431,618
99,600
203,191
333,610
8,999,622
16,880
59,600
35,630
7,420
14,250
19,810
9,150
8,170
30,600
23,670
19,020
32,560
33,730
33,640
17,620
24,250
@
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@
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@
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Media: 0.5%
Acacia Research - Acacia Technologies
Belo Corp.
CKX, Inc.
Courier Corp.
DG FastChannel, Inc.
Dolan Media Co.
EW Scripps Co.
Fisher Communications, Inc.
Journal Communications, Inc.
Lin TV Corp.
Lodgenet Entertainment Corp.
Martha Stewart Living Omnimedia
Mediacom Communications Corp.
Playboy Enterprises, Inc.
Scholastic Corp.
Sinclair Broadcast Group, Inc.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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182,810
406,472
218,412
122,504
455,288
215,335
77,318
115,197
128,367
136,103
132,569
181,685
200,694
123,122
493,360
123,190
20,380
World Wrestling Entertainment, Inc.
352,574
3,665,000
8,320
4,570
14,930
5,860
34,910
8,340
18,700
11,770
5,870
7,410
26,520
106,940
6,510
6,430
15,500
20,080
6,990
43,300
@, S
@
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@
@
@
Metal Fabricate/Hardware: 0.9%
AM Castle & Co.
Ampco-Pittsburgh Corp.
CIRCOR International, Inc.
Dynamic Materials Corp.
Furmanite Corp.
Haynes International, Inc.
Kaydon Corp.
Ladish Co., Inc.
Lawson Products
LB Foster Co.
Mueller Industries, Inc.
Mueller Water Products, Inc.
Northwest Pipe Co.
Olympic Steel, Inc.
RBC Bearings, Inc.
RTI International Metals, Inc.
Sun Hydraulics Corp.
Worthington Industries
108,826
113,427
495,825
91,533
181,183
296,320
703,120
237,283
90,809
214,075
710,471
511,173
142,244
209,940
493,985
609,026
181,600
748,657
6,139,497
37,440
17,460
14,570
36,180
53,080
48,390
150,500
32,520
11,680
38,150
26,690
37,190
51,170
74,830
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Mining: 0.8%
Allied Nevada Gold Corp.
Amcol International Corp.
Brush Engineered Materials, Inc.
Century Aluminum Co.
Coeur d’Alene Mines Corp.
General Moly, Inc.
Hecla Mining Co.
Horsehead Holding Corp.
Kaiser Aluminum Corp.
Paramount Gold and Silver Corp.
Stillwater Mining Co
Uranium Energy Corp.
US Gold Corp.
USEC, Inc.
620,381
474,912
328,845
497,837
795,138
160,655
823,235
385,037
450,498
53,029
346,436
119,752
138,159
431,769
5,625,683
40,540
28,650
6,520
14,450
8,160
35,600
25,350
15,480
6,660
35,130
16,980
169,890
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Miscellaneous Manufacturing: 2.0%
Actuant Corp.
Acuity Brands, Inc.
Ameron International Corp.
AO Smith Corp.
AZZ, Inc.
Barnes Group, Inc.
Blount International, Inc.
Ceradyne, Inc.
China Fire & Security Group, Inc.
Clarcor, Inc.
Colfax Corp.
Eastman Kodak Co.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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792,557
1,209,317
410,043
759,637
276,216
692,420
262,626
351,241
86,380
1,211,634
199,855
983,663
ING
RussellTM
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Small Cap Index Portfolio
Shares
Value
9,840
15,900
30,440
7,000
21,530
68,060
18,070
14,830
11,570
20,680
13,580
8,950
19,490
9,870
8,770
16,970
11,140
38,920
8,150
7,200
10,840
18,910
12,200
@
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Miscellaneous Manufacturing (continued)
EnPro Industries, Inc.
ESCO Technologies, Inc.
Federal Signal Corp.
Freightcar America, Inc.
Griffon Corp.
Hexcel Corp.
John Bean Technologies Corp.
Koppers Holdings, Inc.
LSB Industries, Inc.
Matthews International Corp. - Class A
Metabolix, Inc.
Movado Group, Inc.
Myers Industries, Inc.
NL Industries, Inc.
PMFG, Inc.
Polypore International, Inc.
Raven Industries, Inc.
Smith & Wesson Holding Corp.
Standex International Corp.
STR Holdings, Inc.
Sturm Ruger & Co., Inc.
Tredegar Corp.
Trimas Corp.
$
286,147
505,779
274,264
169,120
268,264
982,786
316,948
419,986
176,327
734,140
165,404
100,956
204,255
84,685
116,027
296,296
328,519
147,118
210,026
169,164
129,972
322,983
79,117
13,723,872
Office Furnishings: 0.3%
Herman Miller, Inc.
HNI, Corp.
Interface, Inc.
Knoll, Inc.
Steelcase, Inc.
39,500
25,520
29,570
39,140
26,800
713,370
679,598
342,421
440,325
173,396
2,349,110
5,370
12,900
26,380
45,140
26,670
33,670
25,060
55,170
59,980
26,510
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Oil & Gas: 2.4%
Apco Oil and Gas International, Inc.
Approach Resources, Inc.
Arena Resources, Inc.
Atlas Energy, Inc.
ATP Oil & Gas Corp.
Berry Petroleum Co.
Bill Barrett Corp.
BPZ Energy, Inc.
Brigham Exploration Co.
Bronco Drilling Co., Inc.
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145,312
117,068
881,092
1,404,757
501,663
948,147
769,593
405,500
956,681
124,597
18,100
49,230
9,220
15,900
11,370
113,500
80,150
41,190
17,200
17,090
133,720
21,500
22,800
72,090
52,270
22,720
154,920
4,990
86,200
29,280
10,110
32,110
31,800
22,830
34,220
24,480
22,960
15,050
39,070
75,050
12,290
17,240
56,220
25,180
14,812
@
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Carrizo Oil & Gas, Inc.
Cheniere Energy, Inc.
Contango Oil & Gas Co.
CVR Energy, Inc.
Delek US Holdings, Inc.
Delta Petroleum Corp.
Endeavour International Corp.
FX Energy, Inc.
GMX Resources, Inc.
Goodrich Petroleum Corp.
Gran Tierra Energy, Inc.
Gulfport Energy Corp.
Harvest Natural Resources, Inc.
Hercules Offshore, Inc.
McMoRan Exploration Co.
Northern Oil And Gas, Inc.
Oilsands Quest, Inc.
Panhandle Oil and Gas, Inc.
Parker Drilling Co.
Penn Virginia Corp.
Petroleum Development Corp.
Petroquest Energy, Inc.
Pioneer Drilling Co.
Rex Energy Corp.
Rosetta Resources, Inc.
Stone Energy Corp.
Swift Energy Co.
Toreador Resources Corp.
Vaalco Energy, Inc.
Vantage Drilling Co.
Venoco, Inc.
W&T Offshore, Inc.
Warren Resources, Inc.
Western Refining, Inc.
Zion Oil & Gas, Inc.
415,395
152,121
471,603
139,125
82,774
160,035
101,791
141,282
141,384
267,288
788,948
241,660
171,684
310,708
764,710
360,112
114,517
117,914
424,966
717,360
234,249
161,513
223,872
260,034
805,881
434,520
705,790
123,109
193,006
111,074
157,681
144,816
141,674
138,490
91,686
16,267,182
51,360
25,620
73,400
@
@
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Oil & Gas Services: 1.2%
Allis-Chalmers Energy, Inc.
Basic Energy Services, Inc.
Boots & Coots, Inc.
181,814
197,530
178,362
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING RussellTM Small Cap Index Portfolio
Shares
Value
29,180
12,710
@
Oil & Gas Services (continued)
Cal Dive International, Inc.
CARBO Ceramics, Inc.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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$
213,889
792,341
33,140
5,370
21,420
67,660
6,590
17,340
68,180
84,810
11,060
17,160
9,310
42,540
3,450
21,490
11,710
12,590
48,170
18,600
@
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Complete Production Services, Inc.
Dawson Geophysical Co.
Dril-Quip, Inc.
Global Industries Ltd.
Gulf Island Fabrication, Inc.
Hornbeck Offshore Services, Inc.
ION Geophysical Corp.
Key Energy Services, Inc.
Lufkin Industries, Inc.
Matrix Service Co.
Natural Gas Services Group, Inc.
Newpark Resources
OYO Geospace Corp.
RPC, Inc.
Superior Well Services, Inc.
T-3 Energy Services, Inc.
Tetra Technologies, Inc.
Willbros Group, Inc.
382,767
157,019
1,303,193
434,377
143,333
322,004
335,446
809,936
875,399
184,642
147,750
223,335
164,945
239,184
156,680
309,210
588,637
223,386
8,565,179
5,840
10,210
11,700
75,580
25,390
18,830
@
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Packaging & Containers: 0.4%
AEP Industries, Inc.
Bway Holding Co.
Graham Packaging Co., Inc.
Graphic Packaging Holding Co.
Rock-Tenn Co.
Silgan Holdings, Inc.
151,957
205,221
146,777
272,844
1,157,022
1,134,131
3,067,952
53,550
27,350
64,570
41,930
11,100
10,180
20,130
29,020
24,000
100,000
19,600
27,610
18,530
23,330
6,600
3,650
30,900
2,260
33,190
20,900
48,400
51,010
43,010
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Pharmaceuticals: 2.9%
Adolor, Corp.
Akorn, Inc.
Alkermes, Inc.
Allos Therapeutics, Inc.
Amicus Therapeutics, Inc.
Ardea Biosciences, Inc.
Array Biopharma, Inc.
Auxilium Pharmaceuticals, Inc.
AVANIR Pharmaceuticals, Inc.
AVI BioPharma, Inc.
BioDelivery Sciences International
Bioscrip Inc.
Cadence Pharmaceuticals, Inc.
Catalyst Health Solutions, Inc.
China Sky One Medical, Inc.
China-Biotics, Inc.
Clarient, Inc.
Cornerstone Therapeutics, Inc.
Cypress Bioscience, Inc.
Cytori Therapeutics, Inc.
Depomed, Inc.
Durect Corp.
Dyax Corp.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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96,390
41,846
837,473
311,540
35,409
185,887
55,156
904,263
55,680
119,000
74,970
220,328
169,179
965,395
103,686
65,372
80,804
14,351
162,631
95,200
171,820
153,540
146,664
142,400
3,160
38,880
37,470
61,020
11,530
37,350
5,550
11,680
37,610
6,100
43,300
19,440
26,860
37,520
59,970
15,215
26,620
5,880
7,500
19,690
40,010
20,050
19,040
23,350
9,910
28,830
23,520
13,780
@
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Hemispherx Biopharma, Inc.
Hi-Tech Pharmacal Co., Inc.
Impax Laboratories, Inc.
Inspire Pharmaceuticals, Inc.
Isis Pharmaceuticals, Inc.
ISTA Pharmaceuticals, Inc.
KV Pharmaceutical Co.
Lannett Co., Inc.
Mannatech, Inc.
MannKind Corp.
MAP Pharmaceuticals, Inc.
Medicis Pharmaceutical Corp.
Medivation, Inc.
Myriad Pharmaceuticals, Inc.
Nabi Biopharmaceuticals
Nektar Therapeutics
Neogen Corp.
Neurocrine Biosciences, Inc.
NeurogesX, Inc.
Nutraceutical International
Obagi Medical Products, Inc.
Onyx Pharmaceuticals, Inc.
Opko Health, Inc.
Optimer Pharmaceuticals, Inc.
Orexigen Therapeutics, Inc.
Osiris Therapeutics, Inc.
Pain Therapeutics, Inc.
Par Pharmaceutical Cos., Inc.
Pharmasset, Inc.
105,376
69,962
695,174
233,813
666,338
46,927
65,736
23,588
39,011
246,722
96,899
1,089,428
203,926
121,407
205,234
912,144
381,897
67,881
55,272
112,013
239,824
1,211,503
39,699
233,811
137,532
73,334
180,764
583,296
369,304
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING RussellTM Small Cap Index Portfolio
Shares
Value
19,710
15,610
19,610
39,230
29,150
35,630
33,500
42,440
11,550
25,700
20,920
28,340
20,810
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Pharmaceuticals (continued)
PharMerica Corp.
Pozen, Inc.
Progenics Pharmaceuticals, Inc.
Questcor Pharmaceuticals, Inc.
Rigel Pharmaceuticals, Inc.
Salix Pharmaceuticals Ltd.
Santarus, Inc.
Savient Pharmaceuticals, Inc.
Schiff Nutrition International, Inc.
Sciclone Pharmaceuticals
SIGA Technologies, Inc.
Spectrum Pharmaceuticals, Inc.
Synta Pharmaceuticals Corp.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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$
359,116
149,544
104,521
322,863
232,326
1,327,218
180,230
613,258
94,479
90,593
138,700
130,647
89,691
11,240
36,210
5,150
17,950
50,190
41,470
18,240
@, L
@
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Synutra International, Inc.
Theravance, Inc.
USANA Health Sciences, Inc.
Vanda Pharmaceuticals, Inc.
Viropharma, Inc.
Vivus, Inc.
Xenoport, Inc.
254,136
482,317
161,762
207,143
684,090
361,618
168,902
19,727,553
25,020
@
Pipelines: 0.0%
Crosstex Energy, Inc.
217,424
217,424
5,280
2,820
26,370
24,220
@
@
@
Real Estate: 0.1%
Avatar Holdings, Inc.
Consolidated-Tomoka Land Co.
Forestar Real Estate Group, Inc.
Hilltop Holdings, Inc.
114,787
88,858
497,866
284,585
986,096
30,910
13,980
8,060
37,520
20,880
13,560
14,350
11,880
21,050
67,350
26,460
15,380
12,200
8,850
21,280
12,420
2,300
34,770
20,480
21,520
14,440
76,340
39,710
15,570
20,980
10,010
31,610
30,370
44,480
7,820
15,230
66,060
2,480
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Retail: 6.4%
99 Cents Only Stores
AFC Enterprises
America’s Car-Mart, Inc.
AnnTaylor Stores Corp.
Asbury Automotive Group, Inc.
Bebe Stores, Inc.
Big 5 Sporting Goods Corp.
BJ’s Restaurants, Inc.
Bob Evans Farms, Inc.
Borders Group, Inc.
Brown Shoe Co., Inc.
Buckle, Inc.
Buffalo Wild Wings, Inc.
Build-A-Bear Workshop, Inc.
Cabela’s, Inc.
California Pizza Kitchen, Inc.
Caribou Coffee Co., Inc.
Casey’s General Stores, Inc.
Cash America International, Inc.
Cato Corp.
CEC Entertainment, Inc.
Charming Shoppes, Inc.
Cheesecake Factory
Childrens Place Retail Stores, Inc.
Christopher & Banks Corp.
Citi Trends, Inc.
CKE Restaurants, Inc.
Coldwater Creek, Inc.
Collective Brands, Inc.
Conn’s, Inc.
Cracker Barrel Old Country Store
Denny’s Corp.
Destination Maternity Corp.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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503,833
150,005
194,407
776,664
277,704
120,684
218,407
276,804
650,656
115,842
409,601
565,369
586,942
63,012
372,187
208,532
15,226
1,091,778
808,550
461,389
550,020
416,816
1,074,553
693,644
167,840
324,724
349,923
210,768
1,011,475
61,231
706,367
253,670
63,637
32,810
11,900
27,260
40,062
6,650
2,300
30,460
28,889
15,050
23,690
7,510
7,220
13,330
14,760
17,780
5,150
8,400
18,850
ING
RussellTM
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Dillard’s, Inc.
DineEquity, Inc.
Domino’s Pizza, Inc.
Dress Barn, Inc.
DSW, Inc.
Einstein Noah Restaurant Group, Inc.
Ezcorp, Inc.
Finish Line
First Cash Financial Services, Inc.
Fred’s, Inc.
Fuqi International, Inc.
Gaiam, Inc.
Genesco, Inc.
Group 1 Automotive, Inc.
Gymboree Corp.
Haverty Furniture Cos., Inc.
hhgregg, Inc.
Hibbett Sporting Goods, Inc.
774,316
470,407
371,826
1,048,022
169,775
27,945
627,476
471,468
324,629
283,806
81,859
59,926
413,363
470,254
917,981
84,048
212,016
482,183
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Small Cap Index Portfolio
Shares
Value
34,980
26,500
33,350
41,420
16,630
14,020
11,050
8,260
37,800
4,850
54,920
27,580
10,180
12,850
31,600
20,870
33,970
19,350
46,250
41,490
15,910
16,110
20,870
31,850
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Retail (continued)
HOT Topic, Inc.
HSN, Inc.
J Crew Group, Inc.
Jack in the Box, Inc.
Jo-Ann Stores, Inc.
JoS. A Bank Clothiers, Inc.
Kenneth Cole Productions, Inc.
Kirkland’s, Inc.
Krispy Kreme Doughnuts, Inc.
Landry’s Restaurants, Inc.
Liz Claiborne, Inc.
Lululemon Athletica, Inc.
Lumber Liquidators
McCormick & Schmick’s Seafood Restaurants, Inc.
Men’s Wearhouse, Inc.
New York & Co., Inc.
Nu Skin Enterprises, Inc.
O’Charleys, Inc.
OfficeMax, Inc.
Pacific Sunwear of California
Pantry, Inc.
Papa John’s International, Inc.
PC Mall, Inc.
PEP Boys-Manny Moe & Jack
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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$
227,370
780,160
1,530,765
975,441
698,127
766,193
141,551
173,460
151,956
86,912
408,056
1,144,570
271,501
129,400
756,504
99,967
988,527
172,989
759,425
220,312
198,716
414,188
105,602
320,093
16,400
14,750
65,210
11,260
11,400
36,610
17,300
35,580
4,300
20,700
25,102
79,900
58,800
5,000
19,960
38,880
9,780
25,260
571
15,150
8,890
7,570
14,410
35,420
22,630
22,660
18,600
5,500
6,340
64,220
39,040
27,290
14,750
L
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PetMed Express, Inc.
PF Chang’s China Bistro, Inc.
Pier 1 Imports, Inc.
Pricesmart, Inc.
Red Robin Gourmet Burgers, Inc.
Regis Corp.
Retail Ventures, Inc.
Ruby Tuesday, Inc.
Rue21, Inc.
Rush Enterprises, Inc. - Class A
Ruth’s Chris Steak House
Saks, Inc.
Sally Beauty Holdings, Inc.
Shoe Carnival, Inc.
Sonic Automotive, Inc.
Sonic Corp.
Sport Supply Group, Inc.
Stage Stores, Inc.
Steak N Shake Co/The
Stein Mart, Inc.
Steinway Musical Instruments
Systemax, Inc.
Talbots, Inc.
Texas Roadhouse, Inc.
Tractor Supply Co.
Tuesday Morning Corp.
Ulta Salon Cosmetics & Fragrance, Inc.
Vitamin Shoppe, Inc.
West Marine, Inc.
Wet Seal, Inc.
World Fuel Services Corp.
Zale Corp.
Zumiez, Inc.
363,588
650,918
415,388
261,795
278,616
683,875
164,437
376,081
149,081
273,447
133,041
687,140
524,496
114,275
219,560
429,624
131,443
388,751
217,705
136,805
167,399
164,572
186,754
491,984
1,313,672
149,329
420,732
123,475
68,789
305,687
1,040,026
74,775
302,228
43,974,833
58,380
22,050
9,610
43,440
17,980
18,110
8,910
17,450
9,600
17,210
126,600
21,000
5,760
28,750
4,990
73,040
L
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Savings & Loans: 1.1%
Astoria Financial Corp.
Beneficial Mutual Bancorp, Inc.
Berkshire Hills Bancorp., Inc.
Brookline Bancorp., Inc.
Danvers Bancorp, Inc.
Dime Community Bancshares
ESB Financial Corp.
ESSA Bancorp, Inc.
First Financial Holdings, Inc.
First Financial Northwest, Inc.
Flagstar Bancorp., Inc.
Flushing Financial Corp.
Home Federal Bancorp, Inc.
Investors Bancorp, Inc.
NASB Financial, Inc.
NewAlliance Bancshares, Inc.
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846,510
209,034
176,151
462,202
248,663
228,729
114,850
218,823
144,528
117,544
75,952
265,860
83,578
379,500
115,369
921,765
16,880
38,570
9,170
8,450
39,470
11,320
9,356
ING
RussellTM
Northfield Bancorp, Inc.
Northwest Bancshares, Inc.
OceanFirst Financial Corp.
Oritani Financial Corp.
Provident Financial Services, Inc.
Provident New York Bancorp
Rockville Financial, Inc.
244,422
452,812
104,171
135,792
469,693
107,314
114,050
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Small Cap Index Portfolio
Shares
Value
Savings & Loans (continued)
Roma Financial Corp.
Territorial Bancorp, Inc.
United Financial Bancorp, Inc.
ViewPoint Financial Group
Westfield Financial, Inc.
WSFS Financial Corp.
12,270
3,250
19,840
8,540
24,260
5,980
$
153,866
61,848
277,363
138,433
222,949
233,220
7,324,991
17,510
32,680
79,100
54,130
44,930
21,620
47,780
16,260
24,570
17,130
51,870
16,020
23,710
19,050
71,070
55,490
90,800
36,710
33,690
31,800
12,320
14,660
16,070
46,110
36,930
88,430
35,840
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Semiconductors: 3.2%
Actel Corp.
Advanced Analogic Technologies, Inc.
Amkor Technology, Inc.
Anadigics, Inc.
Applied Micro Circuits Corp.
ATMI, Inc.
Brooks Automation, Inc.
Cabot Microelectronics Corp.
Cavium Networks, Inc.
Ceva, Inc.
Cirrus Logic, Inc.
Cohu, Inc.
Diodes, Inc.
DSP Group, Inc.
Emcore Corp.
Emulex Corp.
Entegris, Inc.
Entropic Communications, Inc.
Exar Corp.
Formfactor, Inc.
GT Solar International, Inc.
Hittite Microwave Corp.
IXYS Corp.
Kopin Corp.
Kulicke & Soffa Industries, Inc.
Lattice Semiconductor Corp.
Micrel, Inc.
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242,514
114,053
559,237
263,072
387,746
417,482
421,420
615,116
610,810
199,736
435,189
220,595
531,104
158,687
85,995
736,907
457,632
186,487
237,515
564,768
64,434
644,600
137,238
170,607
267,743
324,538
382,054
48,950
65,330
36,480
37,140
21,610
30,880
29,990
10,390
21,250
27,940
15,010
8,630
25,430
42,840
18,800
63,150
107,690
12,830
6,020
13,790
37,660
99,480
17,910
24,810
15,020
8,000
37,510
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Microsemi Corp.
Microtune, Inc.
MIPS Technologies, Inc.
MKS Instruments, Inc.
Monolithic Power Systems, Inc.
Netlogic Microsystems, Inc.
Omnivision Technologies, Inc.
Pericom Semiconductor Corp.
Photronics, Inc.
PLX Technology, Inc.
Power Integrations, Inc.
Rubicon Technology, Inc.
Rudolph Technologies, Inc.
Semtech Corp.
Sigma Designs, Inc.
Silicon Image, Inc.
Skyworks Solutions, Inc.
Standard Microsystems Corp.
Supertex, Inc.
Techwell, Inc.
Tessera Technologies, Inc.
Triquint Semiconductor, Inc.
Ultratech, Inc.
Veeco Instruments, Inc.
Volterra Semiconductor Corp.
White Electronic Designs Corp.
Zoran Corp.
848,793
178,351
162,701
727,573
481,903
908,798
515,228
111,277
108,163
147,244
618,412
174,326
217,935
746,701
220,524
190,713
1,679,964
298,682
154,052
257,873
763,745
696,360
243,576
1,079,235
377,002
56,000
403,608
21,806,018
33,910
22,900
40,730
41,100
11,070
20,870
15,920
11,970
59,290
22,380
16,950
29,360
23,990
14,860
25,273
37,620
12,250
27,940
@
@
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Software: 4.4%
Accelrys, Inc.
ACI Worldwide, Inc.
Actuate Corp.
Acxiom Corp.
Advent Software, Inc.
American Software, Inc.
AMICAS, Inc.
ArcSight, Inc.
Ariba, Inc.
Athenahealth, Inc.
Avid Technology, Inc.
Blackbaud, Inc.
Blackboard, Inc.
Bottomline Technologies, Inc.
Bowne & Co., Inc.
Callidus Software, Inc.
China Information Security Technology, Inc.
Commvault Systems, Inc.
208,886
471,969
227,681
737,334
495,383
121,255
95,838
336,956
761,877
818,213
233,571
739,578
999,423
250,094
282,047
136,561
61,863
596,519
PORTFOLIO OF INVESTMENTS
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ING RussellTM Small Cap Index Portfolio
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
7,330
28,800
21,320
4,900
15,470
21,850
28,390
9,960
17,450
34,730
24,560
23,550
36,630
27,330
7,300
12,600
16,830
56,920
16,740
24,750
9,500
21,734
89,890
15,010
24,830
4,670
17,670
12,400
25,670
75,610
9,500
28,870
14,240
28,530
9,920
14,640
41,120
7,260
15,780
3,740
8,740
21,300
17,460
9,010
45,000
11,770
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Software (continued)
Computer Programs & Systems, Inc.
Concur Technologies, Inc.
CSG Systems International
Deltek, Inc.
DemandTec, Inc.
Digi International, Inc.
DivX, Inc.
Double-Take Software, Inc.
Ebix, Inc.
Eclipsys Corp.
Epicor Software Corp.
EPIQ Systems, Inc.
Fair Isaac Corp.
FalconStor Software, Inc.
Global Defense Technology & Systems, Inc.
GSE Systems, Inc.
infoGROUP, Inc.
Informatica Corp.
Innerworkings, Inc.
Innodata Isogen, Inc.
Interactive Intelligence, Inc.
JDA Software Group, Inc.
Lawson Software, Inc.
Mantech International Corp.
MedAssets, Inc.
MicroStrategy, Inc.
Monotype Imaging Holdings, Inc.
NetSuite, Inc.
Omnicell, Inc.
Parametric Technology Corp.
Pegasystems, Inc.
Phase Forward, Inc.
Phoenix Technologies Ltd.
Progress Software Corp.
PROS Holdings, Inc.
Quality Systems, Inc.
Quest Software, Inc.
Renaissance Learning, Inc.
RightNow Technologies, Inc.
Rosetta Stone, Inc.
Schawk, Inc.
Seachange Intl., Inc.
Smith Micro Software, Inc.
SolarWinds, Inc.
Solera Holdings, Inc.
Synchronoss Technologies, Inc.
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$
286,456
1,181,088
446,867
37,436
107,517
232,484
203,272
88,744
278,677
690,432
234,794
292,727
928,204
95,108
97,784
68,103
131,274
1,528,871
87,048
100,238
177,555
604,640
594,173
732,938
521,430
397,277
171,929
180,296
360,150
1,364,761
351,500
377,331
45,853
896,698
98,010
899,482
731,525
117,830
281,831
88,937
158,456
152,934
154,346
195,157
1,739,250
227,985
11,650
54,520
21,280
44,470
57,340
29,740
17,170
45,830
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SYNNEX Corp.
Take-Two Interactive Software, Inc.
Taleo Corp.
THQ, Inc.
Trident Microsystems, Inc.
Tyler Technologies, Inc.
Ultimate Software Group, Inc.
Verifone Holdings, Inc.
344,374
537,022
551,365
311,735
99,772
557,328
565,752
926,224
30,208,018
24,030
@
Storage/Warehousing: 0.1%
Mobile Mini, Inc.
372,225
372,225
263,770
24,650
69,040
60,350
39,440
18,160
30,390
12,840
18,350
8,200
77,400
40,930
44,190
7,650
42,140
23,640
10,180
11,640
146,940
17,300
15,910
11,270
11,050
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Telecommunications: 4.1%
3Com Corp.
Acme Packet, Inc.
Adaptec, Inc.
ADC Telecommunications, Inc.
Adtran, Inc.
Airvana, Inc.
Alaska Communications Systems Group, Inc.
Anaren, Inc.
Anixter International, Inc.
Applied Signal Technology, Inc.
Arris Group, Inc.
Aruba Networks, Inc.
Atheros Communications, Inc.
Atlantic Tele-Network, Inc.
Aviat Networks, Inc.
BigBand Networks, Inc.
Black Box Corp.
Cbeyond, Inc.
Cincinnati Bell, Inc.
Comtech Telecommunications
Consolidated Communications Holdings, Inc.
DigitalGlobe, Inc.
EMS Technologies, Inc.
2,028,289
475,252
225,761
441,159
1,039,244
139,106
246,767
182,842
859,698
160,556
929,574
559,104
1,710,595
343,715
279,388
83,449
313,137
159,235
501,065
553,427
301,654
314,997
183,430
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING RussellTM Small Cap Index Portfolio
Shares
Value
40,330
27,520
12,430
17,940
20,650
65,890
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Telecommunications (continued)
Extreme Networks
General Communication, Inc.
GeoEye, Inc.
Global Crossing Ltd.
Globecomm Systems, Inc.
Harmonic, Inc.
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$
123,813
158,790
366,685
271,791
158,799
415,766
6,570
53,330
27,040
26,810
15,420
17,810
19,420
8,200
4,700
8,240
34,690
23,520
21,940
22,780
19,720
14,730
33,890
89,790
33,060
56,840
82,380
47,570
27,860
174,320
24,650
13,000
30,760
120,420
14,150
13,650
14,096
22,800
47,130
44,920
13,330
46,710
16,710
@
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Hughes Communications, Inc.
Infinera Corp.
InterDigital, Inc.
Iowa Telecommunications Services, Inc.
IPG Photonics Corp.
Ixia
Knology, Inc.
KVH Industries
LogMeIn, Inc.
Loral Space & Communications, Inc.
Mastec, Inc.
Netgear, Inc.
Neutral Tandem, Inc.
Novatel Wireless, Inc.
NTELOS Holdings Corp.
Oplink Communications, Inc.
OpNext, Inc.
PAETEC Holding Corp.
Plantronics, Inc.
Polycom, Inc.
Powerwave Technologies, Inc.
Premier Global Services, Inc.
RCN Corp.
RF Micro Devices, Inc.
SAVVIS, Inc.
Shenandoah Telecom Co.
ShoreTel, Inc.
Sonus Networks, Inc.
SureWest Communications
Switch and Data, Inc.
Sycamore Networks, Inc.
Symmetricom, Inc.
Syniverse Holdings, Inc.
Tekelec
USA Mobility, Inc.
Utstarcom, Inc.
Viasat, Inc.
182,975
454,372
753,334
447,727
228,216
165,099
261,005
108,117
97,243
289,389
437,441
613,872
350,601
153,309
350,819
273,094
79,980
420,217
1,034,117
1,738,167
102,975
392,928
420,129
868,114
406,725
244,400
203,324
314,296
121,549
242,424
283,471
132,924
917,621
815,747
168,891
130,321
578,333
28,310,354
Textiles: 0.1%
G&K Services, Inc.
Unifirst Corp.
14,450
9,390
373,966
483,585
857,551
20,080
17,050
7,760
@
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Toys/Games/Hobbies: 0.1%
Jakks Pacific, Inc.
Leapfrog Enterprises, Inc.
RC2 Corp.
262,044
111,678
116,167
489,889
48,880
6,995
17,200
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Transportation: 1.8%
Air Transport Services Group, Inc.
American Commercial Lines, Inc.
Arkansas Best Corp.
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164,726
175,575
513,936
13,370
24,330
7,500
13,870
34,450
9,760
43,260
6,300
19,070
14,500
36,328
21,540
22,630
16,720
37,390
33,560
22,260
6,630
36,370
9,840
9,500
28,180
19,810
22,000
9,060
ING
RussellTM
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Atlas Air Worldwide Holdings, Inc.
Bristow Group, Inc.
CAI International Inc.
Celadon Group, Inc.
DHT Maritime, Inc.
Dynamex, Inc.
Eagle Bulk Shipping, Inc.
Echo Global Logistics, Inc.
Forward Air Corp.
Genco Shipping & Trading Ltd.
General Maritime Corp.
Genesee & Wyoming, Inc.
Golar LNG Ltd.
Gulfmark Offshore, Inc.
Heartland Express, Inc.
Horizon Lines, Inc.
HUB Group, Inc.
International Shipholding Corp.
Knight Transportation, Inc.
Knightsbridge Tankers Ltd.
Marten Transport Ltd.
Nordic American Tanker Shipping
Old Dominion Freight Line
Pacer International, Inc.
PHI, Inc.
709,279
917,971
92,363
193,348
135,044
167,872
229,711
81,302
501,541
306,095
261,198
734,945
264,771
443,916
616,935
182,566
622,835
194,856
767,043
166,690
187,245
853,009
661,456
132,440
191,891
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Small Cap Index Portfolio
Shares
Value
13,300
7,960
29,440
7,940
22,550
1,900
3,890
27,410
665,850
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Transportation (continued)
RailAmerica, Inc.
Saia, Inc.
Ship Finance International Ltd.
Teekay Tankers Ltd.
Ultrapetrol Bahamas Ltd.
Universal Truckload Services, Inc.
USA Truck, Inc.
Werner Enterprises, Inc.
YRC Worldwide, Inc.
$
156,940
110,485
522,854
99,806
123,800
33,402
62,862
635,090
362,089
12,577,887
30,740
6,030
15,070
11,580
5,280
2,800
@
@
Trucking & Leasing: 0.2%
Aircastle Ltd.
Amerco, Inc.
Greenbrier Cos., Inc.
TAL International Group, Inc.
Textainer Group Holdings Ltd.
Willis Lease Finance Corp.
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291,108
327,369
165,921
231,368
113,784
44,184
1,173,734
11,550
12,790
3,700
9,940
17,660
13,790
9,230
14,270
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Water: 0.3%
American States Water Co.
California Water Service Group
Connecticut Water Service
Consolidated Water Co. Ltd.
Middlesex Water Co.
Pico Holdings, Inc.
SJW Corp.
Southwest Water Co.
400,785
481,032
86,081
134,985
301,103
512,850
234,627
148,979
2,300,442
Total Common Stock
(Cost $543,397,112)
627,708,036
REAL ESTATE INVESTMENT TRUSTS: 6.2%
31,719
13,480
35,310
22,650
18,420
31,320
S
Apartments: 0.6%
American Campus Communities, Inc.
Associated Estates Realty Corp.
Education Realty Trust, Inc.
Home Properties, Inc.
Mid-America Apartment Communities, Inc.
Post Properties, Inc.
877,348
185,889
202,679
1,060,020
953,972
689,666
3,969,574
34,530
6,600
35,390
53,696
18,030
28,110
13,090
42,100
47,135
16,130
10,990
37,840
17,250
S
Diversified: 0.8%
Capital Lease Funding, Inc.
Chesapeake Lodging Trust
Colonial Properties Trust
Cousins Properties, Inc.
DuPont Fabros Technology, Inc.
Entertainment Properties Trust
Gladstone Commercial Corp.
Investors Real Estate Trust
Lexington Realty Trust
Mission West Properties
PS Business Parks, Inc.
Washington Real Estate Investment Trust
Winthrop Realty Trust
191,642
128,469
455,823
446,214
389,268
1,156,164
189,151
379,742
306,849
110,974
586,866
1,156,012
207,690
5,704,864
28,810
Forestry: 0.1%
Potlatch Corp.
39,950
35,430
15,820
54,980
17,710
58,280
9,440
Health Care: 0.6%
Cogdell Spencer, Inc.
Healthcare Realty Trust, Inc.
LTC Properties, Inc.
Medical Properties Trust, Inc.
National Health Investors, Inc.
Omega Healthcare Investors, Inc.
Universal Health Realty Income Trust
1,009,502
1,009,502
L
295,630
825,165
428,089
576,190
686,440
1,135,877
333,610
4,281,001
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32,310
69,395
54,320
57,800
41,900
14,600
44,420
62,914
@
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Hotels: 0.5%
Ashford Hospitality Trust, Inc.
DiamondRock Hospitality Co.
FelCor Lodging Trust, Inc.
Hersha Hospitality Trust
LaSalle Hotel Properties
Pebblebrook Hotel Trust
Strategic Hotel Capital, Inc.
Sunstone Hotel Investors, Inc.
231,663
701,583
309,624
299,404
976,270
306,965
188,785
702,749
3,717,043
Manufactured Homes: 0.2%
Equity Lifestyle Properties, Inc.
Sun Communities, Inc.
16,530
14,340
890,636
361,368
1,252,004
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING RussellTM Small Cap Index Portfolio
Shares
Value
9,380
68,880
6,600
43,340
9,000
8,500
9,850
7,650
39,345
25,040
11,450
64,710
190,120
46,488
10,200
66,950
51,480
6,450
26,850
12,040
@, S
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Mortgage: 1.0%
American Capital Agency Corp.
Anworth Mortgage Asset Corp.
Apollo Commercial Real Estate Finance, Inc.
Capstead Mortgage Corp.
Colony Financial, Inc.
CreXus Investment Corp.
Cypress Sharpridge Investments, Inc.
Dynex Capital, Inc.
Gramercy Capital Corp.
Hatteras Financial Corp.
Invesco Mortgage Capital, Inc.
iStar Financial, Inc.
MFA Mortgage Investments, Inc.
Northstar Realty Finance Corp.
Pennymac Mortgage Investment Trust
RAIT Investment Trust
Redwood Trust, Inc.
Resource Capital Corp.
Starwood Property Trust, Inc.
Walter Investment Management Corp.
$
240,128
464,251
118,866
518,346
180,000
113,645
131,793
68,850
109,773
645,281
263,350
297,019
1,399,283
195,714
169,422
132,561
793,822
43,602
518,205
192,640
6,596,551
59,590
38,670
11,700
48,100
24,830
8,590
L
Office Property: 0.6%
BioMed Realty Trust, Inc.
Franklin Street Properties Corp.
Government Properties Income Trust
Highwoods Properties, Inc.
Kilroy Realty Corp.
Parkway Properties, Inc.
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985,619
558,008
304,317
1,526,213
765,757
161,320
4,301,234
88,370
36,920
27,480
L
S
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Regional Malls: 0.3%
CBL & Associates Properties, Inc.
Glimcher Realty Trust
Pennsylvania Real Estate Investment Trust
1,210,669
187,184
342,676
1,740,529
Shopping Centers: 0.7%
Acadia Realty Trust
Cedar Shopping Centers, Inc.
Developers Diversified Realty Corp.
Equity One, Inc.
Inland Real Estate Corp.
Ramco-Gershenson Properties
Saul Centers, Inc.
Tanger Factory Outlet Centers, Inc.
Urstadt Biddle Properties, Inc.
23,996
31,370
132,590
23,270
39,500
18,490
5,870
25,800
6,840
428,569
248,137
1,613,620
439,570
361,425
208,197
243,018
1,113,528
108,140
4,764,204
1,450
13,220
52,220
@
Single Tenant: 0.3%
Alexander’s, Inc.
Getty Realty Corp.
National Retail Properties, Inc.
433,739
309,348
1,192,183
1,935,270
Storage: 0.2%
Extra Space Storage, Inc.
Sovran Self Storage, Inc.
U-Store-It Trust
51,450
17,440
47,050
652,386
607,958
338,760
1,599,104
127,490
15,920
35,610
23,370
S
@
Warehouse/Industrial: 0.3%
DCT Industrial Trust, Inc.
EastGroup Properties, Inc.
First Industrial Realty Trust, Inc.
First Potomac Realty Trust
666,773
600,821
276,334
351,251
1,895,179
Total Real Estate Investment Trusts
(Cost $38,187,250)
42,766,059
MUTUAL FUNDS: 0.0%
3,970
Closed-End Funds: 0.0%
Kayne Anderson Energy Development Co.
64,155
Total Mutual Funds
(Cost $51,859)
64,155
Total Long-Term Investments
(Cost $581,636,221)
670,538,250
SHORT-TERM INVESTMENTS: 11.1%
17,562,000
Money Market: 2.5%
ING Institutional Prime Money Market Fund - Class I
17,562,000
Total Money Market
(Cost $17,562,000)
17,562,000
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
ING
RussellTM
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Small Cap Index Portfolio
Shares
Value
58,776,216
502,326
Securities Lending Collateral(cc): 8.6%
Bank of New York Mellon Corp. Institutional Cash Reserves, Series A (1)
Bank of New York Mellon Corp. Institutional Cash Reserves, Series B (1)(2)
I
@
I
cc
(1)
(2)
S
L
*
ING
RussellTM
$
58,776,216
401,860
Total Securities Lending Collateral
(Cost $59,278,542)
59,178,076
Total Short-Term Investments
(Cost $76,840,542)
76,740,076
Total Investments in Securities
(Cost $658,476,763)*
Other Assets and Liabilities - Net
108.4%
(8.4)
$
747,278,326
(58,022,144)
Net Assets
100.0%
$
689,256,182
$
114,474,842
(28,125,383)
$
86,349,459
Non-income producing security
Illiquid Security
Securities purchased with cash collateral for securities loaned.
Collateral received from brokers for securites lending was invested in these
short-term investments.
On September 12, 2008, BNY established a separate sleeve of the
Institutional Cash Reserves Fund (Series B) to hold certain Lehman Brothers
defaulted debt obligations. The Fund’s position in Series B is being fair
valued daily.
All or a portion of this security has been identified by the Fund to cover
future collateral requirements for applicable futures, options, swaps, foreign
currency contracts and/or when-issued or delayed-delivery securities.
Loaned security, a portion or all of the security is on loan at March 31, 2010.
Cost for federal income tax purposes is $660,928,867.
Net unrealized appreciation consists of:
Gross Unrealized Appreciation
Gross Unrealized Depreciation
Net Unrealized Appreciation
Small Cap Index Portfolio
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Fair Value Measurements
The following is a summary of the fair valuations according to the inputs used as of March 31, 2010 in valuing the Portfolio’s assets and
liabilities:
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
Asset Table
Investments, at value
Common Stock*
Real Estate Investment Trusts
Mutual Funds
Short-Term Investments
Total Investments, at value
Quoted Prices
Significant Other
Significant
in Active Markets
Observable
Unobservable
Fair Value
for Identical Investments
Inputs
Inputs
at
(Level 1)
(Level 2)
(Level 3)
3/31/2010
$
627,708,036
42,766,059
64,155
76,338,216
$
—
—
—
—
$
—
—
—
401,860
$
627,708,036
42,766,059
64,155
76,740,076
$
746,876,466
$
—
$
401,860
$
747,278,326
Other Financial Instruments+:
Futures
305,791
$
Total Assets
747,182,257
—
$
305,791
—
$
—
401,860
$
747,584,117
The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio’s assets and liabilities
during the period ended March 31, 2010:
Beginning
Accrued
Total
Total Unrealized
Transfers
Transfers
Ending
Balance
Discounts/
Realized
Appreciation/
Into
Out of
Balance
(Premiums)
Gain/(Loss)
(Depreciation)
Level 3
Level 3
3/31/2010
12/31/2009
Purchases
Sales
Asset Table
Investments, at value
Short-Term Investments
$
401,860
$
—
$
—
$
—
$
—
$
—
$
—
$
—
$
401,860
Total Investments, at value
$
401,860
$
—
$
—
$
—
$
—
$
—
$
—
$
—
$
401,860
As of March 31, 2010, total change in unrealized gain (loss) on Level 3 securities still held at period end and included in the change in net
assets was $0.
+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency
contracts, futures, swaps, and written options. Forward foreign currency contracts and futures are reported at their unrealized gain/loss at
measurement date which represents the amount due to/from the Portfolio. Swaps and written options are reported at their market value at
measurement date.
Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any security or
derivative instrument where a change in the pricing level occurred from the beginning to the end of the period.
* For further breakdown of Common Stock by Industry type, please refer to the Portfolio of Investments.
ING
RussellTM
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Small Cap Index Portfolio
ING Russell™™ Small Cap Index Portfolio Open Futures Contracts on March 31, 2010:
Unrealized
Number of
Contract Description
Contracts
Appreciation/
Expiration Date
Long Contracts
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
Market Value
(Depreciation)
Russell 2000® Mini Index
288
06/18/10
$
19,500,480
$
305,791
$
19,500,480
$
305,791
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited)
ING Small Company Portfolio
Shares
Value
COMMON STOCK: 91.8%
Aerospace/Defense: 2.2%
129,113
151,700
101,000
44,600
136,362
36,600
192,600
@
@
@
Moog, Inc.
Orbital Sciences Corp.
Teledyne Technologies, Inc.
@, L
Airlines: 0.5%
Allegiant Travel Co.
@, L
Apparel: 1.9%
Gildan Activewear, Inc.
True Religion Apparel, Inc.
Wolverine World Wide, Inc.
255,400
Auto Parts & Equipment: 0.9%
Cooper Tire & Rubber Co.
227,309
164,500
233,654
81,200
152,407
244,417
96,618
84,800
@
Banks: 5.2%
Bank Mutual Corp.
First Midwest Bancorp., Inc.
FirstMerit Corp.
IBERIABANK Corp.
MB Financial Corp.
Old National Bancorp.
Prosperity Bancshares, Inc.
SVB Financial Group
@
@, L
@, L
@
@, L
@, L
Biotechnology: 2.2%
Acorda Therapeutics, Inc.
AMAG Pharmaceuticals, Inc.
Cubist Pharmaceuticals, Inc.
Human Genome Sciences, Inc.
InterMune, Inc.
Medicines Co.
56,391
32,900
46,989
119,126
69,400
148,285
69,593
187,000
67,000
181,600
L
L
L
Chemicals: 2.7%
Albemarle Corp.
HB Fuller Co.
Minerals Technologies, Inc.
RPM International, Inc.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
$
4,573,182
2,883,817
4,168,270
11,625,269
2,580,556
2,580,556
3,584,957
1,111,176
5,616,216
10,312,349
4,857,708
4,857,708
1,477,509
2,228,975
5,039,917
4,872,812
3,433,730
2,920,783
3,961,338
3,956,768
27,891,832
1,928,572
1,148,539
1,059,132
3,597,605
3,093,158
1,162,554
11,989,560
2,966,750
4,340,270
3,473,280
3,875,344
14,655,644
124,037
41,600
69,409
46,878
135,748
104,600
546,869
122,900
152,200
110,600
125,900
97,100
197,081
36,338
138,700
104,447
293,600
102,520
224,500
149,800
84,418
244,668
@
Commercial Services: 2.6%
Arbitron, Inc.
Capella Education Co.
Equifax, Inc.
Towers Watson & Co.
TrueBlue, Inc.
@
@, L
@
Computers: 2.5%
CACI International, Inc.
Mentor Graphics Corp.
Micros Systems, Inc.
@
L
@
L
L
@, L
@
@
3,306,826
3,862,144
2,484,842
2,226,705
2,104,094
13,984,611
5,109,710
4,385,889
4,040,952
13,536,551
Distribution/Wholesale: 3.6%
Fossil, Inc.
Owens & Minor, Inc.
Pool Corp.
Watsco, Inc.
5,744,028
5,130,734
2,850,376
5,523,048
19,248,186
Diversified Financial Services: 3.6%
Duff & Phelps Corp.
Greenhill & Co., Inc.
KBW, Inc.
Stifel Financial Corp.
SWS Group, Inc.
3,299,136
2,982,986
3,731,030
5,614,026
3,385,208
19,012,386
Electric: 3.7%
Black Hills Corp.
Cleco Corp.
El Paso Electric Co.
Idacorp, Inc.
Portland General Electric Co.
3,111,482
5,960,475
3,085,880
2,922,551
4,724,539
19,804,927
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Small Company Portfolio
Shares
266,822
Value
@
Electrical Components & Equipment: 0.8%
Advanced Energy Industries, Inc.
$
4,418,572
4,418,572
130,700
131,600
108,454
152,200
@, L
@
Electronics: 2.8%
Brady Corp.
FEI Co.
Flir Systems, Inc.
Watts Water Technologies, Inc.
4,067,384
3,014,956
3,058,403
4,727,332
14,868,075
153,900
@
Entertainment: 1.2%
Bally Technologies, Inc.
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
6,239,106
6,239,106
52,939
123,593
@
@
Environmental Control: 1.3%
Clean Harbors, Inc.
Waste Connections, Inc.
2,941,291
4,197,218
7,138,509
113,400
151,469
177,800
@
L
Food: 2.0%
American Italian Pasta Co.
Flowers Foods, Inc.
Spartan Stores, Inc.
4,407,858
3,747,343
2,563,876
10,719,077
90,459
Gas: 0.6%
WGL Holdings, Inc.
82,800
Hand/Machine Tools: 0.9%
Regal-Beloit Corp.
3,134,404
3,134,404
4,919,148
4,919,148
73,975
85,900
179,947
84,124
155,600
67,552
@
@
L
@
@, L
Healthcare - Products: 3.3%
Greatbatch, Inc.
Haemonetics Corp.
Meridian Bioscience, Inc.
Micrus Endovascular Corp.
PSS World Medical, Inc.
Steris Corp.
1,567,530
4,909,185
3,665,520
1,658,925
3,658,156
2,273,800
17,733,116
160,642
320,121
72,448
101,900
@
@, L
@
Healthcare - Services: 3.2%
AMERIGROUP Corp.
Healthsouth Corp.
Psychiatric Solutions, Inc.
Universal Health Services, Inc.
5,339,740
5,986,265
2,158,950
3,575,671
17,060,626
70,490
Home Builders: 0.3%
Ryland Group, Inc.
70,200
Housewares: 0.6%
Toro Co.
1,581,796
1,581,796
3,451,734
3,451,734
100,635
182,200
133,506
16,900
99,718
193,000
L
@
Insurance: 3.8%
Assured Guaranty Ltd.
Delphi Financial Group
Platinum Underwriters Holdings Ltd.
Primerica, Inc.
ProAssurance Corp.
Symetra Financial Corp.
2,210,951
4,584,152
4,950,402
253,500
5,837,492
2,543,740
20,380,237
144,599
47,600
@
@, L
Internet: 1.1%
Blue Coat Systems, Inc.
j2 Global Communications, Inc.
4,488,353
1,113,840
5,602,193
Investment Companies: 0.7%
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
292,513
3,723,690
Apollo Investment Corp.
3,723,690
300,400
L
Leisure Time: 0.5%
Callaway Golf Co.
2,649,528
2,649,528
Lodging: 0.5%
Wyndham Worldwide Corp.
100,000
2,573,000
2,573,000
93,900
90,859
242,400
45,668
@
@
Machinery - Diversified: 2.6%
AGCO Corp.
Gardner Denver, Inc.
Intermec, Inc.
Nordson Corp.
3,368,193
4,001,430
3,437,232
3,101,771
13,908,626
Metal Fabricate/Hardware: 0.6%
Commercial Metals Co.
227,200
3,421,632
3,421,632
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Small Company Portfolio
Shares
Value
Miscellaneous Manufacturing: 1.5%
Actuant Corp.
Barnes Group, Inc.
202,600
203,990
$
3,960,830
3,967,606
7,928,436
87,400
140,828
227,300
326,013
89,100
@
@
@
@
Oil & Gas: 3.3%
Bill Barrett Corp.
Carrizo Oil & Gas, Inc.
Frontier Oil Corp.
McMoRan Exploration Co.
Unit Corp.
2,684,054
3,232,003
3,068,550
4,769,570
3,767,148
17,521,325
28,065
75,700
L
@
Oil & Gas Services: 1.6%
Core Laboratories NV
Dril-Quip, Inc.
3,670,902
4,605,588
8,276,490
Packaging & Containers: 1.1%
Silgan Holdings, Inc.
99,200
5,974,816
5,974,816
126,152
116,000
91,000
@
@
@, L
Pharmaceuticals: 1.3%
Nektar Therapeutics
Onyx Pharmaceuticals, Inc.
Savient Pharmaceuticals, Inc.
1,918,772
3,512,480
1,314,950
6,746,202
105,200
Retail: 5.8%
Casey’s General Stores, Inc.
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3,303,280
73,500
200,700
188,937
75,119
335,949
193,800
27,121
423,500
@
@
@
@
@, L
@, L
@
Collective Brands, Inc.
Dress Barn, Inc.
Jack in the Box, Inc.
Jo-Ann Stores, Inc.
OfficeMax, Inc.
Papa John’s International, Inc.
Stage Stores, Inc.
Wet Seal, Inc.
1,671,390
5,250,312
4,449,466
3,153,496
5,516,283
4,982,598
417,392
2,015,860
30,760,077
297,717
327,780
279,129
286,796
L
Savings & Loans: 2.5%
Flushing Financial Corp.
Northwest Bancshares, Inc.
Provident Financial Services, Inc.
Westfield Financial, Inc.
3,769,097
3,848,137
3,321,635
2,635,655
13,574,524
184,300
131,725
248,800
75,000
251,500
383,037
@, L
@
@
@, L
L
Semiconductors: 3.8%
Formfactor, Inc.
MKS Instruments, Inc.
ON Semiconductor Corp.
Power Integrations, Inc.
QLogic Corp.
Verigy Ltd.
3,273,168
2,580,493
1,990,400
3,090,000
5,105,450
4,282,354
20,321,865
85,009
200,000
166,400
96,200
264,800
169,000
225,050
@
@, L
@
@
@, L
L
@
Software: 5.5%
Ansys, Inc.
Informatica Corp.
JDA Software Group, Inc.
Progress Software Corp.
Quest Software, Inc.
Solera Holdings, Inc.
THQ, Inc.
3,667,288
5,372,000
4,629,248
3,023,566
4,710,792
6,531,850
1,577,601
29,512,345
43,700
179,160
114,100
149,500
105,937
106,300
443,500
L
@, L
@, L
@
Telecommunications: 3.9%
Adtran, Inc.
Alaska Communications Systems Group, Inc.
Anixter International, Inc.
NTELOS Holdings Corp.
Polycom, Inc.
SBA Communications Corp.
Tellabs, Inc.
1,151,495
1,454,779
5,345,585
2,659,605
3,239,553
3,834,241
3,357,295
21,042,553
91,311
262,500
121,881
97,000
@
L
@, L
@
Transportation: 3.1%
Atlas Air Worldwide Holdings, Inc.
Heartland Express, Inc.
HUB Group, Inc.
Kirby Corp.
4,844,049
4,331,250
3,410,230
3,700,550
16,286,079
Total Common Stock
(Cost $385,092,667)
REAL ESTATE INVESTMENT TRUSTS: 5.6%
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490,967,360
Apartments: 0.8%
Mid-America Apartment Communities, Inc.
82,900
4,293,391
4,293,391
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Small Company Portfolio
Shares
Value
Diversified: 0.7%
Entertainment Properties Trust
94,300
$
3,878,559
3,878,559
315,324
L
Hotels: 0.6%
DiamondRock Hospitality Co.
3,187,926
3,187,926
Mortgage: 1.4%
MFA Mortgage Investments, Inc.
Redwood Trust, Inc.
555,600
218,169
4,089,216
3,364,166
7,453,382
Office Property: 0.7%
Highwoods Properties, Inc.
115,800
3,674,334
3,674,334
183,572
L
Single Tenant: 0.8%
National Retail Properties, Inc.
4,190,949
4,190,949
Storage: 0.6%
U-Store-It Trust
431,599
3,107,513
3,107,513
Total Real Estate Investment Trusts
(Cost $25,386,218)
29,786,054
EXCHANGE-TRADED FUNDS: 0.5%
7,865
34,500
L
L
Exchange-Traded Funds: 0.5%
iShares Russell 2000 Index Fund
iShares Russell 2000 Value Index Fund
533,326
2,202,480
Total Exchange-Traded Funds
(Cost $2,751,673)
2,735,806
Total Long-Term Investments
(Cost $413,230,558)
523,489,220
SHORT-TERM INVESTMENTS: 7.2%
37,026,764
1,704,289
I
Securities Lending Collateral(cc): 7.2%
Bank of New York Mellon Corp. Institutional Cash Reserves, Series A (1)
Bank of New York Mellon Corp. Institutional Cash Reserves, Series B (1)(2)
37,026,764
1,363,431
Total Short-Term Investments
(Cost $38,731,053)
38,390,195
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
@
I
cc
(1)
(2)
L
*
Total Investments in Securities
(Cost $451,961,611)*
Other Assets and Liabilities - Net
105.1%
(5.1)
$
561,879,415
(27,132,900)
Net Assets
100.0%
$
534,746,515
$
114,492,495
(28,064,389)
$
86,428,106
Non-income producing security
Illiquid Security
Securities purchased with cash collateral for securities loaned.
Collateral received from brokers for securites lending was invested in these
short-term investments.
On September 12, 2008, BNY established a separate sleeve of the
Institutional Cash Reserves Fund (Series B) to hold certain Lehman Brothers
defaulted debt obligations. The Fund’s position in Series B is being fair
valued daily.
Loaned security, a portion or all of the security is on loan at March 31, 2010.
Cost for federal income tax purposes is $475,451,309.
Net unrealized appreciation consists of:
Gross Unrealized Appreciation
Gross Unrealized Depreciation
Net Unrealized Appreciation
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING Small Company Portfolio
Fair Value Measurements
The following is a summary of the fair valuations according to the inputs used as of March 31, 2010 in valuing the Portfolio’s assets and
liabilities:
Asset Table
Investments, at value
Common Stock*
Real Estate Investment Trusts
Exchange-Traded Funds
Short-Term Investments
Total Investments, at value
Quoted Prices
Significant Other
Significant
in Active Markets
Observable
Unobservable
Fair Value
for Identical Investments
Inputs
Inputs
at
(Level 1)
(Level 2)
(Level 3)
3/31/2010
$
490,967,360
29,786,054
2,735,806
37,026,764
$
—
—
—
—
$
—
—
—
1,363,431
$
490,967,360
29,786,054
2,735,806
38,390,195
$
560,515,984
$
—
$
1,363,431
$
561,879,415
The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio’s assets and liabilities
during the period ended March 31, 2010:
Beginning Balance
12/31/2009
Purchases
Sales
Accrued Discounts/
Total Realized
Total Unrealized Appreciation/
Transfers Into
Transfers Out of
Ending Balance
(Premiums)
Gain/(Loss)
(Depreciation)
Level 3
Level 3
3/31/2010
Asset Table
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
Investments, at value
Short-Term Investments
$
1,363,431 $
— $
— $
— $
— $
— $
— $
— $
1,363,431
Total Investments, at value
$
1,363,431 $
— $
— $
— $
— $
— $
— $
— $
1,363,431
As of March 31, 2010, total change in unrealized gain (loss) on Level 3 securities still held at period end and included in the change in net
assets was $0.
Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any security or
derivative instrument where a change in the pricing level occurred from the beginning to the end of the period.
* For further breakdown of Common Stock by Industry type, please refer to the Portfolio of Investments.
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited)
ING U.S. Bond Index Portfolio
Principal Amount
Value
CORPORATE BONDS/NOTES: 24.2%
$
5,515,000
#
Aerospace/Defense: 0.2%
BAE Systems Holdings, Inc., 6.375%, due 06/01/19
$
6,000,579
6,000,579
Agriculture: 0.5%
Altria Group, Inc., 9.950%, due 11/10/38
Lorillard Tobacco Co., 8.125%, due 06/23/19
7,535,000
5,850,000
9,922,864
6,455,539
16,378,403
Airlines: 0.3%
Continental Airlines, Inc., 7.250%, due 11/10/19
Delta Airlines, Inc., 6.821%, due 08/10/22
Southwest Airlines Co. 2007-1 Pass-through Trust, 6.150%, due 08/01/22
7,460,000
1,436,799
1,470,175
7,982,200
1,436,799
1,499,578
10,918,577
Auto Manufacturers: 0.1%
Daimler Finance NA, LLC, 6.500%, due 11/15/13
3,755,000
4,166,319
4,166,319
8,455,000
210,000
14,320,000
13,975,000
7,570,000
6,205,000
8,095,000
2,580,000
22,000,000
9,185,000
4,730,000
5,095,000
2,500,000
19,195,000
#
#
Banks: 7.2%
Abbey National Treasury Services PLC/London, 3.875%, due 11/10/14
Bank of America Corp., 5.375%, due 06/15/14
Bank of America Corp., 5.650%, due 05/01/18
Bank of America Corp., 6.500%, due 08/01/16
Bank of Tokyo-Mitsubishi UFJ Ltd., 2.600%, due 01/22/13
Barclays Bank PLC, 6.750%, due 05/22/19
Citigroup, Inc., 2.125%, due 04/30/12
Citigroup, Inc., 5.000%, due 09/15/14
Citigroup, Inc., 5.500%, due 04/11/13
Citigroup, Inc., 5.875%, due 05/29/37
Citigroup, Inc., 8.125%, due 07/15/39
Credit Suisse/New York NY, 5.300%, due 08/13/19
Deutsche Bank AG/London, 5.375%, due 10/12/12
Goldman Sachs Group, Inc., 3.250%, due 06/15/12
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8,416,056
220,623
14,510,413
15,126,568
7,630,174
6,876,406
8,247,356
2,578,904
23,133,198
8,300,209
5,476,999
5,234,246
2,722,230
20,025,165
13,950,000
10,090,000
275,000
4,000,000
4,650,000
1,815,000
14,240,000
15,105,000
18,085,000
9,650,000
12,000,000
7,495,000
7,890,000
7,975,000
L
L
Goldman Sachs Group, Inc., 4.750%, due 07/15/13
Goldman Sachs Group, Inc., 6.150%, due 04/01/18
Goldman Sachs Group, Inc., 6.450%, due 05/01/36
Goldman Sachs Group, Inc., 6.750%, due 10/01/37
HSBC Holdings PLC, 6.500%, due 09/15/37
JPMorgan Chase & Co., 2.125%, due 12/26/12
JPMorgan Chase & Co., 3.700%, due 01/20/15
JPMorgan Chase & Co., 5.375%, due 10/01/12
Kreditanstalt fuer Wiederaufbau, 2.000%, due 01/17/12
Morgan Stanley, 5.375%, due 10/15/15
Morgan Stanley, 6.625%, due 04/01/18
PNC Funding Corp., 3.625%, due 02/08/15
US Bancorp., 2.875%, due 11/20/14
Wells Fargo & Company, 3.625%, due 04/15/15
14,759,030
10,692,898
266,727
4,007,408
4,835,781
1,842,044
14,343,325
16,354,939
18,384,271
10,034,871
12,818,856
7,548,215
7,802,200
7,921,751
260,110,863
12,440,000
6,050,000
#
Beverages: 0.6%
Anheuser-Busch InBev Worldwide, Inc., 5.375%, due 01/15/20
Anheuser-Busch InBev Worldwide, Inc., 7.200%, due 01/15/14
12,857,238
6,936,863
19,794,101
Building Materials: 0.2%
CRH America, Inc., 5.300%, due 10/15/13
6,295,000
6,710,848
6,710,848
Chemicals: 0.3%
Dow Chemical Co., 8.550%, due 05/15/19
9,355,000
11,335,790
11,335,790
7,315,000
#
Commercial Services: 0.2%
Erac USA Finance Co., 7.000%, due 10/15/37
7,564,690
7,564,690
Computers: 0.0%
Hewlett-Packard Co., 4.500%, due 03/01/13
800,000
857,143
857,143
8,425,000
5,375,000
5,050,000
5,500,000
12,100,000
17,615,000
2,300,000
1,475,000
600,000
3,400,000
3,510,000
3,645,000
#
Diversified Financial Services: 2.0%
American Express Co., 7.000%, due 03/19/18
Caterpillar Financial Services Corp., 1.900%, due 12/17/12
ConocoPhillips Canada Funding Co. I, 5.625%, due 10/15/16
Credit Suisse First Boston USA, Inc., 5.125%, due 01/15/14
General Electric Capital Corp., 5.250%, due 10/19/12
General Electric Capital Corp., 6.750%, due 03/15/32
Harley-Davidson Funding Corp., 6.800%, due 06/15/18
HSBC Finance Corp., 5.000%, due 06/30/15
JPMorgan Chase Capital XV, 5.875%, due 03/15/35
Merrill Lynch & Co., Inc., 5.450%, due 02/05/13
Merrill Lynch & Co., Inc., 6.220%, due 09/15/26
Nomura Holdings, Inc., 6.700%, due 03/04/20
9,583,892
5,415,409
5,629,260
5,913,727
12,997,590
18,690,783
2,299,977
1,537,808
547,655
3,599,594
3,395,978
3,789,677
73,401,350
5,670,000
Electric: 0.9%
Duke Energy Corp., 3.950%, due 09/15/14
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5,848,242
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING U.S. Bond Index Portfolio
Principal Amount
$
Value
Electric (continued)
Exelon Generation Co. LLC, 5.200%, due 10/01/19
FirstEnergy Solutions Corp., 6.800%, due 08/15/39
Midamerican Energy Holdings Co., 6.125%, due 04/01/36
Oncor Electric Delivery Co., 5.950%, due 09/01/13
PPL Energy Supply, LLC, 6.300%, due 07/15/13
9,260,000
6,225,000
3,400,000
4,855,000
2,160,000
$
9,371,953
6,114,108
3,436,720
5,305,981
2,369,742
32,446,746
6,455,000
#
Electronics: 0.2%
Thermo Fisher Scientific, Inc., 2.150%, due 12/28/12
6,437,242
6,437,242
Environmental Control: 0.2%
Waste Management, Inc., 6.125%, due 11/30/39
5,490,000
5,467,030
5,467,030
Food: 0.9%
Kraft Foods, Inc., 6.125%, due 02/01/18
Kraft Foods, Inc., 6.500%, due 08/11/17
Kraft Foods, Inc., 6.500%, due 02/09/40
Kroger Co., 5.500%, due 02/01/13
Safeway, Inc., 6.250%, due 03/15/14
5,565,000
3,100,000
9,110,000
725,000
10,010,000
6,099,824
3,477,611
9,472,168
783,415
11,136,355
30,969,373
Healthcare - Products: 0.4%
CareFusion Corp., 4.125%, due 08/01/12
St. Jude Medical, Inc., 3.750%, due 07/15/14
10,550,000
3,430,000
11,009,685
3,520,579
14,530,264
Household Products/Wares: 0.0%
Clorox Co., 5.450%, due 10/15/12
150,000
162,753
162,753
5,640,000
75,000
6,995,000
5,200,000
3,895,000
#
Insurance: 0.6%
Berkshire Hathaway Finance, 5.750%, due 01/15/40
Hartford Financial Services Group, Inc., 5.250%, due 10/15/11
Metlife, Inc., 6.750%, due 06/01/16
Northwestern Mutual Life Insurance, 6.063%, due 03/30/40
Prudential Financial, Inc., 3.875%, due 01/14/15
5,598,952
78,298
7,848,950
5,236,566
3,891,880
22,654,646
Iron/Steel: 0.2%
ArcelorMittal, 6.125%, due 06/01/18
7,585,000
7,974,808
7,974,808
13,605,000
5,825,000
3,900,000
6,055,000
5,550,000
13,275,000
4,030,000
#
Media: 1.8%
Comcast Corp., 6.300%, due 11/15/17
Comcast Corp., 6.500%, due 11/15/35
COX Communications, Inc., 5.450%, due 12/15/14
DirecTV Holdings, LLC, 6.350%, due 03/15/40
News America, Inc., 6.150%, due 03/01/37
Time Warner Cable, Inc., 5.850%, due 05/01/17
Time Warner Cable, Inc., 6.550%, due 05/01/37
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Please Consider the Environment Before Printing This Document
15,012,410
5,985,170
4,220,069
6,030,562
5,488,434
14,234,862
4,132,257
5,435,000
1,325,000
3,825,000
Time Warner, Inc., 4.875%, due 03/15/20
Time Warner, Inc., 5.875%, due 11/15/16
Time Warner, Inc., 6.500%, due 11/15/36
5,320,495
1,449,610
3,941,869
65,815,738
Mining: 0.3%
Barrick Australian Finance Pty Ltd, 5.950%, due 10/15/39
Rio Tinto Finance USA Ltd., 6.500%, due 07/15/18
5,595,000
4,310,000
5,529,069
4,859,085
10,388,154
Miscellaneous Manufacturing: 0.0%
Ingersoll-Rand Global Holding Co. Ltd., 6.000%, due 08/15/13
895,000
984,179
984,179
12,195,000
9,255,000
5,800,000
L
Multi-National: 0.8%
European Investment Bank, 1.750%, due 09/14/12
European Investment Bank, 2.375%, due 03/14/14
European Investment Bank, 2.625%, due 05/16/11
12,285,536
9,258,739
5,924,706
27,468,981
Office/Business Equipment: 0.3%
Xerox Corp., 5.500%, due 05/15/12
11,325,000
12,018,452
12,018,452
8,260,000
6,870,000
1,550,000
10,055,000
2,950,000
6,095,000
S
Oil & Gas: 1.0%
Anadarko Petroleum Corp., 5.950%, due 09/15/16
Anadarko Petroleum Corp., 6.200%, due 03/15/40
Marathon Oil Corp., 6.000%, due 10/01/17
Petrobras International Finance Co., 5.750%, due 01/20/20
Suncor Energy, Inc., 6.500%, due 06/15/38
Valero Energy Corp., 6.625%, due 06/15/37
9,011,140
6,782,222
1,666,049
10,351,532
3,086,293
5,814,392
36,711,628
Oil & Gas Services: 0.0%
Weatherford International Ltd., 7.000%, due 03/15/38
965,000
1,023,513
1,023,513
Pharmaceuticals: 0.7%
Express Scripts, Inc., 5.250%, due 06/15/12
Novartis Capital Corp., 1.900%, due 04/24/13
14,825,000
9,945,000
15,815,443
9,946,720
25,762,163
3,700,000
2,825,000
3,481,000
2,625,000
#
Pipelines: 0.5%
Enterprise Products Operating L.P., 6.300%, due 09/15/17
Kinder Morgan Energy Partners LP, 6.950%, due 01/15/38
NGPL PipeCo, LLC, 6.514%, due 12/15/12
ONEOK Partners L.P., 6.850%, due 10/15/37
4,070,470
3,069,942
3,821,473
2,815,420
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING U.S. Bond Index Portfolio
Principal Amount
$
5,075,000
Value
#
Pipelines (continued)
Williams Partners L.P., 5.250%, due 03/15/20
$
5,095,112
18,872,417
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Please Consider the Environment Before Printing This Document
4,050,000
7,100,000
11,775,000
#
Real Estate: 0.7%
AvalonBay Communities, Inc., 5.700%, due 03/15/17
Simon Property Group LP, 5.250%, due 12/01/16
WEA Finance, LLC / WT Finance Aust Pty Ltd., 7.500%, due 06/02/14
4,275,148
7,045,763
13,191,615
24,512,526
Retail: 0.1%
CVS Caremark Corp., 6.250%, due 06/01/27
Home Depot, Inc., 5.875%, due 12/16/36
1,940,000
3,225,000
2,019,916
3,139,979
5,159,895
3,300,000
11,825,000
1,080,000
4,060,000
8,935,000
7,095,000
1,710,000
11,075,000
10,000,000
4,600,000
2,220,000
2,685,000
2,425,000
14,975,000
5,725,000
3,825,000
#
Telecommunications: 2.9%
America Movil SA de CV, 5.000%, due 03/30/20
AT&T, Inc., 6.500%, due 09/01/37
British Telecommunications PLC, 9.625%, due 12/15/30
Cellco Partnership / Verizon Wireless Capital, LLC, 5.550%, due 02/01/14
Cisco Systems, Inc., 4.450%, due 01/15/20
Deutsche Telekom International Finance BV, 5.750%, due 03/23/16
Embarq Corp., 7.082%, due 06/01/16
France Telecom S.A., 4.375%, due 07/08/14
New Cingular Wireless Services, Inc., 8.125%, due 05/01/12
Qwest Corp., 8.875%, due 03/15/12
Rogers Cable, Inc., 5.500%, due 03/15/14
Telecom Italia Capital S.A., 5.250%, due 10/01/15
Telefonica Europe BV, 8.250%, due 09/15/30
Verizon Communications, Inc., 6.350%, due 04/01/19
Verizon Communications, Inc., 7.750%, due 12/01/30
Vodafone Group PLC, 5.625%, due 02/27/17
3,269,858
12,301,666
1,363,416
4,440,779
8,902,932
7,636,803
1,864,777
11,685,498
11,290,140
5,060,000
2,389,302
2,752,407
2,982,881
16,609,192
6,831,236
4,098,889
103,479,776
Transportation: 0.1%
FedEx Corp., 7.375%, due 01/15/14
1,800,000
2,068,769
2,068,769
Total Corporate Bonds/Notes
(Cost $845,789,682)
872,147,716
U.S. GOVERNMENT AGENCY OBLIGATIONS: 41.8%
Federal Home Loan Bank: 0.8%
1.125%, due 05/18/12
2.000%, due 07/27/12
4.500%, due 11/15/12
4.625%, due 06/12/20
5.375%, due 05/18/16
5.625%, due 06/11/21
5,825,000
5,425,000
8,435,000
3,890,000
4,710,000
95,000
5,811,870
5,447,904
9,070,830
4,005,214
5,240,836
104,886
29,681,540
13,555,000
11,225,000
20,780,000
7,680,000
11,840,000
45,905,000
43,147,458
W
Federal Home Loan Mortgage Corporation##: 11.5%
1.375%, due 01/09/13
1.625%, due 04/15/13
2.125%, due 03/23/12
2.875%, due 02/09/15
3.750%, due 03/27/19
4.500%, due 04/15/38
4.500%, due 04/01/23-02/01/40
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13,458,610
11,168,078
21,165,905
7,735,872
11,572,120
46,019,763
43,313,709
19,110,000
67,332,806
290,000
11,715,000
72,336,774
370,000
1,089,550
17,600,000
33,642,016
13,439,927
7,220,000
W
W
W
5.000%, due 04/15/39
5.000%, due 03/01/34-03/01/38
5.400%, due 03/17/21
5.500%, due 04/15/39
5.500%, due 09/01/34-03/01/38
5.550%, due 10/04/16
5.555%, due 05/01/37
6.000%, due 04/01/39
6.000%, due 04/01/36-11/01/39
6.500%, due 06/01/36-01/01/39
6.750%, due 03/15/31
19,734,056
69,729,450
314,901
12,372,141
76,582,611
392,204
1,150,388
18,887,000
36,148,391
14,632,298
8,790,718
413,168,215
2,985,000
15,070,000
12,170,000
6,450,000
30,725,000
3,395,000
945,000
20,620,000
16,663,722
6,715,000
101,175,000
135,250,870
14,400,000
41,965,000
141,274,776
3,680,000
450,000
W
W
W
ING U.S. Bond Index Portfolio
Federal National Mortgage Association##: 26.9%
1.750%, due 02/22/13
1.800%, due 03/15/13
1.875%, due 04/20/12
2.000%, due 09/28/12
2.750%, due 03/13/14
3.000%, due 07/28/14
3.300%, due 07/30/14
4.000%, due 04/01/24
4.000%, due 11/01/20-02/01/25
4.375%, due 10/15/15
4.500%, due 04/25/24-04/25/39
4.500%, due 05/01/19-03/01/40
4.750%, due 04/19/10-11/19/12
5.000%, due 04/25/24-04/01/37
5.000%, due 03/15/16-08/01/38
5.125%, due 08/19/24
5.250%, due 09/15/16
2,989,457
14,967,120
12,334,173
6,484,308
31,304,197
3,421,393
951,316
20,922,867
16,938,436
7,173,635
101,612,738
137,300,549
15,573,499
43,409,862
146,878,511
3,800,468
497,282
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Principal Amount
$
12,060,000
73,820,000
128,342,527
2,247,556
11,160,000
92,039,985
5,065,000
32,428,261
1,140,000
16,809,436
380,000
Value
W
W
W
Federal National Mortgage Association (continued)
5.375%, due 06/12/17
5.500%, due 04/25/24-04/13/40
5.500%, due 04/01/11-09/01/38
5.802%, due 06/01/37
6.000%, due 04/01/39
6.000%, due 06/01/11-01/01/39
6.500%, due 04/13/40
6.500%, due 04/01/30-03/01/39
6.625%, due 11/15/30
7.000%, due 10/01/34-03/01/39
7.125%, due 01/15/30
$
13,374,383
78,692,493
135,807,710
2,378,546
11,855,759
98,137,718
5,489,984
35,202,786
1,366,479
18,665,693
478,921
968,010,283
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9,635,000
17,074,361
20,645,000
19,845,210
7,510,000
14,136,922
75,845
W
W
W
Government National Mortgage Association: 2.6%
5.000%, due 04/01/39
5.000%, due 10/15/37-09/15/39
5.500%, due 04/01/39
5.500%, due 09/15/33-11/15/39
6.000%, due 04/01/39
6.000%, due 10/15/36-12/15/38
7.000%, due 12/15/37
10,015,881
17,800,226
21,838,549
21,037,841
8,022,798
15,129,895
82,924
93,928,114
Other U.S. Agency Obligations: 0.0%
Federal Farm Credit Bank, 5.125%, due 08/25/16
Tennessee Valley Authority, 6.150%, due 01/15/38
75,000
10,000
83,235
11,165
94,400
Total U.S. Government Agency Obligations
(Cost $1,496,943,153)
1,504,882,552
U.S. TREASURY OBLIGATIONS: 27.4%
U.S. Treasury Bonds: 0.3%
3.625%, due 12/15/18
10,200,000
10,225,500
10,225,500
50,690,000
51,805,000
40,185,000
80,135,000
59,650,000
24,595,000
11,110,000
15,960,000
36,075,000
17,360,000
49,405,000
21,780,000
51,910,000
59,740,000
2,010,000
48,160,000
34,530,000
35,940,000
7,715,000
65,000,000
42,055,000
26,850,000
34,070,000
4,505,000
30,560,000
6,155,000
21,880,000
2,765,000
4,025,000
3,295,000
S
S
S
S
U.S. Treasury Notes: 27.1%
1.125%, due 01/15/12
1.375%, due 05/15/12
1.750%, due 11/15/11
1.875%, due 04/30/14
2.375%, due 03/31/16
2.400%, due 04/15/16
2.625%, due 12/31/14
2.750%, due 02/15/19
3.125%, due 08/31/13-10/31/16
3.375%, due 11/30/12
3.500%, due 02/15/18-02/15/39
3.750%, due 11/15/18
3.875%, due 09/15/10
4.000%, due 02/15/14-08/15/18
4.125%, due 05/15/15
4.250%, due 11/15/13-05/15/39
4.375%, due 02/15/38
4.500%, due 11/15/15-02/15/36
4.625%, due 08/31/11
4.750%, due 01/31/12
4.750%, due 05/31/12
4.875%, due 04/30/11
5.125%, due 05/15/16
5.375%, due 02/15/31
6.000%, due 02/15/26
6.500%, due 11/15/26
6.875%, due 08/15/25
7.500%, due 11/15/24
8.125%, due 08/15/19
8.875%, due 08/15/17
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50,892,000
52,140,955
40,803,487
79,189,737
57,711,435
25,454,864
11,191,589
14,819,115
37,256,052
18,278,188
45,905,713
21,951,866
52,777,883
62,989,596
2,162,322
51,336,569
32,846,697
37,833,833
8,146,863
69,565,275
45,343,869
28,125,402
38,248,924
4,985,066
36,051,265
7,641,820
27,968,810
3,714,175
5,413,625
4,499,995
975,246,990
Total U.S. Treasury Obligations
(Cost $995,075,551)
985,472,490
COLLATERALIZED MORTGAGE OBLIGATIONS: 3.6%
1,000,000
1,100,000
2,240,000
10,000,000
450,000
9,570,000
6,325,000
4,100,000
7,700,000
3,250,000
2,500,000
2,825,000
2,000,000
Banc of America Commercial Mortgage, Inc., 5.414%, due 09/10/47
Banc of America Commercial Mortgage, Inc., 5.449%, due 01/15/49
Banc of America Commercial Mortgage, Inc., 5.634%, due 07/10/46
Banc of America Commercial Mortgage, Inc., 5.634%, due 04/10/49
Banc of America Commercial Mortgage, Inc., 5.658%, due 06/10/49
Banc of America Commercial Mortgage, Inc., 5.889%, due 07/10/44
Bear Stearns Commercial Mortgage Securities, 5.331%, due 02/11/44
Bear Stearns Commercial Mortgage Securities, 5.694%, due 06/11/50
Citigroup Commercial Mortgage Trust, 5.699%, due 12/10/49
Citigroup/Deutsche Bank Commercial Mortgage Trust, 5.886%, due 11/15/
44
Commercial Mortgage Pass-through Certificates, 5.306%, due 12/10/46
Continental Airlines, Inc., 5.983%, due 04/19/22
Credit Suisse Mortgage Capital Certificates, 5.311%, due 12/15/39
1,002,518
1,126,662
2,274,647
10,265,440
406,456
9,391,844
6,105,551
4,065,220
7,681,971
3,255,708
2,449,654
2,775,563
1,891,460
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING U.S. Bond Index Portfolio
Principal Amount
Value
COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
$
1,650,000
12,875,000
1,750,000
1,400,000
3,170,000
3,000,000
3,000,000
1,755,000
4,000,000
500,000
1,155,000
482,781
3,655,000
5,878,000
500,000
2,775,000
Credit Suisse Mortgage Capital Certificates, 5.448%, due 01/15/49
Credit Suisse Mortgage Capital Certificates, 5.467%, due 09/15/39
Credit Suisse Mortgage Capital Certificates, 5.723%, due 06/15/39
Credit Suisse Mortgage Capital Certificates, 5.809%, due 09/15/39
CW Capital Cobalt Ltd., 5.820%, due 05/15/46
GE Capital Commercial Mortgage Corp., 5.332%, due 11/10/45
Greenwich Capital Commercial Funding Corp., 5.381%, due 03/10/39
Greenwich Capital Commercial Funding Corp., 5.886%, due 07/10/38
GS Mortgage Securities Corp. II, 5.805%, due 08/10/45
JPMorgan Chase Commercial Mortgage Securities Corp., 4.871%, due 10/
15/42
JPMorgan Chase Commercial Mortgage Securities Corp., 5.038%, due 03/
15/46
JPMorgan Chase Commercial Mortgage Securities Corp., 5.284%, due 05/
15/47
JPMorgan Chase Commercial Mortgage Securities Corp., 5.336%, due 05/
15/47
JPMorgan Chase Commercial Mortgage Securities Corp., 5.429%, due 12/
12/43
JPMorgan Chase Commercial Mortgage Securities Corp., 5.434%, due 01/
15/49
JPMorgan Chase Commercial Mortgage Securities Corp., 5.440%, due 06/
12/47
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
$
1,691,820
12,392,359
1,580,443
1,276,626
3,008,119
3,096,128
3,089,402
1,792,016
3,714,969
508,390
1,196,783
497,395
3,570,337
5,910,683
502,735
2,717,200
1,105,000
4,750,000
500,000
2,000,000
1,255,000
4,130,000
116,905
410,000
1,000,000
1,460,000
10,000,000
156,217
1,250,000
1,500,000
JPMorgan Chase Commercial Mortgage Securities Corp., 5.688%, due 02/
12/51
JPMorgan Chase Commercial Mortgage Securities Corp., 5.746%, due 02/
12/49
JPMorgan Chase Commercial Mortgage Securities Corp., 5.827%, due 02/
15/51
JPMorgan Chase Commercial Mortgage Securities Corp., 5.874%, due 04/
15/45
JPMorgan Chase Commercial Mortgage Securities Corp., 6.125%, due 02/
12/51
LB-UBS Commercial Mortgage Trust, 5.858%, due 07/15/40
Merrill Lynch/Countrywide Commercial Mortgage Trust, 5.773%, due 06/
12/46
Merrill Lynch/Countrywide Commercial Mortgage Trust, 5.957%, due 08/
12/49
Morgan Stanley Capital I, 5.569%, due 12/15/44
Morgan Stanley Capital I, 5.631%, due 04/12/49
Morgan Stanley Capital I, 5.809%, due 12/12/49
Salomon Brothers Mortgage Securities VII, Inc., 4.467%, due 03/18/36
Wachovia Bank Commercial Mortgage Trust, 5.418%, due 01/15/45
Wachovia Bank Commercial Mortgage Trust, 5.509%, due 04/15/47
1,138,712
4,729,601
518,548
2,067,935
1,249,455
4,069,975
118,376
406,743
898,972
1,438,689
9,854,270
161,105
1,268,967
1,360,130
Total Collateralized Mortgage Obligations
(Cost $110,416,254)
128,519,577
2,605,000
California: 0.2%
State of California, 7.550%, due 04/01/39
2,708,835
4,400,000
Illinois: 0.2%
State of Illinois, 4.421%, due 01/01/15
4,439,248
Total Municipal Bonds
(Cost $7,168,320)
7,148,083
Foreign Government Bonds: 0.3%
Mexico Government International Bond, 6.375%, due 01/16/13
Republic of Italy, 3.500%, due 07/15/11
8,529,750
1,905,184
MUNICIPAL BONDS: 0.2%
OTHER BONDS: 0.3%
7,650,000
1,850,000
Total Other Bonds
(Cost $10,072,946)
10,434,934
Total Long-Term Investments
(Cost $3,465,465,906)
3,508,605,352
Shares
Value
SHORT-TERM INVESTMENTS: 13.3%
187,838,863
Affiliated Mutual Fund: 5.2%
ING Institutional Prime Money Market Fund - Class I
Total Mutual Fund
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
$
187,838,863
187,838,863
(Cost $187,838,863)
Principal Amount
$
10,000,000
50,000,000
100,000,000
Value
U.S. Government Agency Obligations: 4.4%
Farmer Mac, 0.090%, due 04/09/10
Freddie Mac, 0.050%, due 04/20/10
Freddie Mac, 0.060%, due 04/01/10
S, Z
S, Z
S, Z
$
Total U.S. Government Agency Obligations
(Cost $159,998,254)
159,998,254
U.S. Treasury Bills: 3.5%
0.110%, due 05/27/10
0.130%, due 05/20/10
75,000,000
50,000,000
9,999,779
49,998,638
99,999,837
74,981,917
49,990,941
Total U.S. Treasury Bills
(Cost $124,972,858)
124,972,858
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING U.S. Bond Index Portfolio
Shares
Value
Securities Lending Collateral(cc): 0.2%
Bank of New York Mellon Corp. Institutional Cash Reserves, Series A (1)
5,517,600
$
Total Securities Lending Collateral
(Cost $5,517,600)
5,517,600
Total Short-Term Investments
(Cost $478,327,575)
#
cc
(1)
##
W
5,517,600
478,327,575
Total Investments in Securities
(Cost $3,943,793,481)*
Other Assets and Liabilities - Net
110.8%
(10.8)
$
3,986,932,927
(387,272,477)
Net Assets
100.0%
$
3,599,660,450
Securities with purchases pursuant to Rule 144A or section 4(2), under the
Securities Act of 1933 and may not be resold subject to that rule except to
qualified institutional buyers. Unless otherwise noted, these securities have
been determined to be liquid under the guidelines established by the Funds’
Board of Directors/Trustees.
Securities purchased with cash collateral for securities loaned.
Collateral received from brokers for securites lending was invested in these
short-term investments.
On September 7, 2008, the Federal Housing Finance Agency placed the
Federal National Mortgage Association and the Federal Home Loan
Mortgage Corporation into conservatorship and the U.S. Treasury guaranteed
the debt issued by those organizations.
Settlement is on a when-issued or delayed-delivery basis.
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S
L
Z
*
All or a portion of this security has been identified by the Fund to cover
future collateral requirements for applicable futures, options, swaps, foreign
currency contracts and/or when-issued or delayed-delivery securities.
Loaned security, a portion or all of the security is on loan at March 31, 2010.
Indicates Zero Coupon Bond; rate shown reflects current effective yield.
At March 31, 2010, the Porfolio has segregated $120,000,000 in cash
collateral for open TBA transactions.
Cost for federal income tax purposes is $3,947,866,649.
Net unrealized appreciation consists of:
Gross Unrealized Appreciation
Gross Unrealized Depreciation
Net Unrealized Appreciation
$
58,611,862
(19,545,584)
$
39,066,278
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
ING U.S. Bond Index Portfolio
Fair Value Measurements
The following is a summary of the fair valuations according to the inputs used as of March 31, 2010 in valuing the Portfolio’s assets and
liabilities:
Asset Table
Investments, at value
Corporate Bonds/Notes
U.S. Government Agency Obligations
U.S. Treasury Obligations
Collateralized Mortgage Obligations
Municipal Bonds
Other Bonds
Short-Term Investments
Total Investments, at value
Quoted Prices
Significant Other
Significant
in Active Markets
Observable
Unobservable
Fair Value
for Identical Investments
Inputs
Inputs
at
(Level 1)
(Level 2)
(Level 3)
3/31/2010
$
—
—
—
—
—
—
193,356,463
$
872,147,716
1,504,882,552
985,472,490
128,519,577
7,148,083
10,434,934
284,971,112
$
—
—
—
—
—
—
—
$
$
193,356,463
$ 3,793,576,464
$
—
$ 3,986,932,927
ING WisdomTreeSM Global High-Yielding Equity Index Portfolio
872,147,716
1,504,882,552
985,472,490
128,519,577
7,148,083
10,434,934
478,327,575
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited)
Shares
Value
COMMON STOCK: 93.2%
16,114
50,606
3,527
Australia: 5.4%
Amcor Ltd.
AMP Ltd.
ASX Ltd.
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$
94,433
290,368
109,713
60,852
32,243
34,699
35,445
13,397
38,283
17,262
50,340
44,036
60,949
6,992
19,598
5,528
18,974
55,818
24,980
6,284
25,486
45,323
12,422
384,514
27,429
60,969
Australia & New Zealand Banking Group Ltd.
AXA Asia Pacific Holdings Ltd.
BlueScope Steel Ltd.
Brambles Ltd.
Coca-Cola Amatil Ltd.
Commonwealth Bank of Australia
Crown Ltd.
Foster’s Group Ltd.
Incitec Pivot Ltd.
John Fairfax Holdings Ltd.
Leighton Holdings Ltd.
Lend Lease Corp. Ltd.
Macquarie Group Ltd.
Metcash Ltd.
National Australia Bank Ltd.
OneSteel Ltd.
Orica Ltd.
QBE Insurance Group Ltd.
Suncorp-Metway Ltd.
TABCORP Holdings Ltd.
Telstra Corp. Ltd.
Wesfarmers Ltd.
Westpac Banking Corp.
1,414,349
186,995
92,516
239,098
138,209
1,974,370
129,419
244,048
139,900
100,555
249,737
155,598
239,067
72,018
1,408,347
89,326
154,240
486,528
354,706
78,554
1,054,313
799,246
1,555,444
11,851,097
1,347
9,704
7,444
@
Austria: 0.2%
Bank of Austria - Escrow
Telekom Austria AG
Voestalpine AG
—
135,682
300,133
435,815
14,275
1,828
1,691
Belgium: 0.4%
Belgacom S.A.
Mobistar S.A.
Solvay S.A.
557,545
112,503
173,590
843,638
56,500
16,100
7,100
4,900
7,422
35,800
14,900
3,100
15,100
7,300
12,400
8,400
15,500
Brazil: 1.7%
Banco do Brasil S.A.
Centrais Eletricas Brasileiras S.A.
Cia de Concessoes Rodoviarias
Cia de Saneamento Basico do Estado de Sao Paulo
Cia Energetica de Minas Gerais
Cia Siderurgica Nacional S.A.
CPFL Energia S.A.
EDP - Energias do Brasil S.A.
Light S.A.
Natura Cosmeticos S.A.
Redecard S.A.
Souza Cruz S.A.
Tractebel Energia S.A.
944,870
238,103
155,267
88,860
95,991
713,443
299,031
59,495
205,313
148,886
229,404
293,706
173,012
3,645,381
Canada: 6.0%
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11,100
13,247
20,000
16,300
4,500
5,900
6,400
12,300
10,900
17,700
7,000
5,900
11,700
20,550
18,800
6,450
2,100
28,900
3,000
23,001
36,013
9,700
14,300
ING
WisdomTreeSM
ARC Energy Trust
Bank of Montreal
Bank of Nova Scotia
BCE, Inc.
Bell Aliant Regional Communications Income Fund
Biovail Corp.
Bonavista Energy Trust
Brookfield Properties Co.
Canadian Imperial Bank of Commerce
Canadian Oil Sands Trust
CI Financial Corp.
Cresent Point Energy Corp.
Enerplus Resources Fund
Great-West Lifeco, Inc.
Husky Energy, Inc.
IGM Financial, Inc.
Manitoba Telecom Services, Inc.
Manulife Financial Corp.
National Bank of Canada
Pengrowth Energy Trust
Penn West Energy Trust
Power Corp. of Canada
Power Financial Corp.
Global High-Yielding Equity Index Portfolio
224,044
804,093
1,001,920
479,058
112,583
98,696
147,137
189,529
796,318
530,660
148,181
226,380
277,280
590,004
539,205
283,237
65,958
570,232
182,661
266,097
762,703
292,819
471,668
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
25,156
10,300
4,050
3,500
14,500
5,200
12,024
2,200
43,500
Canada (continued)
Royal Bank of Canada
Sun Life Financial, Inc.
TELUS Corp.
TELUS Corp. - Non Voting
Toronto Dominion Bank
Transalta Corp.
TransCanada Corp.
Vermilion Energy Trust
Yellow Pages Income Fund
69,766
2,109,365
3,868,505
7,292
Chile: 0.3%
Aguas Andinas SA
Banco de Chile
Banco Santander Chile S.A.
Lan Airlines SA
$
1,472,232
331,316
150,731
125,230
1,080,736
115,044
440,637
76,658
263,403
13,116,450
31,243
201,430
253,969
129,372
616,014
30,000
112,000
China: 0.1%
Yanzhou Coal Mining Co. Ltd.
Zhejiang Expressway Co. Ltd.
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72,185
100,988
173,173
12,228
1,000
15,600
Czech Republic: 0.5%
CEZ A/S
Komercni Banka A/S
Telefonica O2 Czech Republic A/S
579,389
203,433
365,248
1,148,070
3,318
23,715
2,924
8,863
5,273
14,039
5,792
17,921
2,498
Finland: 0.8%
Elisa OYJ
Fortum OYJ
Metso OYJ
Neste Oil OYJ
Rautaruukki OYJ
Sampo OYJ
Sanoma-WSOY OYJ
UPM-Kymmene OYJ
Wartsila OYJ
5,516
8,920
2,513
12,780
709
2,762
40,413
6,355
93,637
47,695
1,697
2,940
5,368
5,385
1,229
15,601
2,982
9,129
24,853
6,643
4,606
4,628
10,939
57,391
1,744
11,253
10,375
38,108
1,694
France: 7.8%
Accor S.A.
Bouygues S.A.
Casino Guichard Perrachon S.A.
Cie de Saint-Gobain
Ciments Francais SA
CNP Assurances
Credit Agricole S.A.
Etablissements Maurel et Prom
France Telecom S.A.
Gaz de France
Imerys S.A.
Lagardere SCA
Legrand S.A.
M6-Metropole Television
Neopost S.A.
PagesJaunes Groupe S.A.
PPR
Safran S.A.
Sanofi-Aventis
Schneider Electric S.A.
Scor S.A.
Societe Television Francaise (T.F.1)
Suez Environnement S.A.
Total S.A.
Vallourec
Veolia Environnement
Vinci S.A.
Vivendi
Wendel Investissement
10,124
25,764
Germany: 4.9%
Allianz AG
BASF AG
68,387
580,396
94,371
154,632
113,986
372,183
128,281
237,633
126,489
1,876,358
305,234
447,536
212,387
613,746
67,977
260,656
705,939
103,365
2,242,871
1,843,746
104,402
118,842
169,515
139,004
98,212
179,023
396,445
237,845
1,854,749
776,103
116,493
85,733
251,610
3,330,874
351,925
389,224
610,779
1,019,034
100,667
17,133,936
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1,267,097
1,594,739
33,056
168,574
47,289
4,090
2,549
5,127
17,243
15,286
Deutsche Post AG
Deutsche Telekom AG
E.ON AG
K+S AG
MAN AG
Muenchener Rueckversicherungs AG
RWE AG
ThyssenKrupp AG
572,523
2,278,071
1,748,313
247,844
213,210
831,689
1,529,671
524,160
10,807,317
Greece: 0.3%
Hellenic Petroleum S.A.
Hellenic Telecommunications Organization S.A.
OPAP S.A.
9,208
14,619
12,600
ING
WisdomTreeSM
Global High-Yielding Equity Index Portfolio
105,569
181,692
286,342
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
Greece (continued)
Piraeus Bank S.A.
8,433
$
73,671
647,274
Hong Kong: 0.6%
CLP Holdings Ltd.
Hang Seng Bank Ltd.
HongKong Electric Holdings
48,500
45,000
44,000
346,647
626,123
260,965
1,233,735
Hungary: 0.1%
Magyar Telekom Telecommunications PLC
65,871
269,305
269,305
Israel: 0.4%
Bezeq Israeli Telecommunication Corp. Ltd.
Israel Chemicals Ltd.
Partner Communications
97,634
41,616
6,285
276,930
565,353
141,239
983,522
87,157
12,381
12,468
103,682
333,543
123,880
38,957
27,378
14,127
33,239
95,211
327,586
289,891
@
Italy: 3.6%
AEM S.p.A.
Autostrade S.p.A.
Banche Popolari Unite Scpa
Edison S.p.A.
Enel S.p.A.
ENI S.p.A.
Mediaset S.p.A.
Mediobanca S.p.A.
Mediolanum S.p.A
Parmalat S.p.A
Snam Rete Gas S.p.A.
Telecom Italia S.p.A.
Telecom Italia S.p.A. RNC
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163,375
289,112
168,179
157,857
1,864,161
2,905,769
334,556
294,191
82,719
91,051
482,462
471,006
327,016
54,046
Terna S.p.A
233,571
7,865,025
Japan: 0.8%
Daiichi Sankyo Co. Ltd.
Eisai Co. Ltd.
Mitsui OSK Lines Ltd.
Mizuho Financial Group, Inc.
Oracle Corp. Japan
Takeda Pharmaceutical Co. Ltd.
14,200
5,000
24,000
187,300
2,800
15,800
266,233
178,289
172,585
370,301
129,962
695,736
1,813,106
Malaysia: 0.7%
British American Tobacco Malaysia Bhd
Digi.com BHD
Kuala Lumpur Kepong Bhd
Petronas Gas BHD
PLUS Expressways Bhd
Public Bank BHD
Sime Darby Bhd
Telekom Malaysia BHD
YTL Power International
7,900
17,600
25,300
45,400
107,000
95,691
137,300
148,900
188,400
106,837
121,814
129,364
136,395
110,930
341,396
366,386
156,915
126,437
1,596,474
25,000
@
Mexico: 0.1%
Kimberly-Clark Corp.
141,341
141,341
5,506
3,043
1,480
3,399
21,337
14,566
77,520
68,997
45,957
5,309
31,134
6,174
Netherlands: 3.5%
Akzo Nobel NV
Boskalis Westminster
Fugro NV
Koninklijke DSM NV
Koninklijke Philips Electronics NV
Reed Elsevier NV
Royal Dutch Shell PLC - Class A
Royal Dutch Shell PLC - Class B
Royal KPN NV
SBM Offshore NV
Unilever NV
Wolters Kluwer NV
313,619
116,412
96,585
151,425
684,626
176,771
2,247,522
1,902,102
729,294
106,081
941,896
133,762
7,600,095
18,932
56,878
New Zealand: 0.1%
Fletcher Building Ltd.
Telecom Corp. of New Zealand Ltd.
112,145
87,467
199,612
3,590
25,500
71,000
Norway: 0.9%
Fred Olsen Energy ASA
Orkla ASA
Statoil ASA
137,619
225,611
1,652,125
2,015,355
6,790
Philippines: 0.2%
Philippine Long Distance Telephone Co.
363,414
363,414
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Poland: 0.2%
Polish Oil & Gas
Telekomunikacja Polska S.A.
117,561
53,750
150,664
305,339
456,003
ING
WisdomTreeSM
Global High-Yielding Equity Index Portfolio
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
Portugal: 0.4%
Brisa-Auto Estradas de Portugal S.A.
Cimpor Cimentos de Portugal SG
Energias de Portugal S.A.
Portugal Telecom SGPS S.A.
16,201
7,387
76,317
32,786
$
137,294
55,762
303,244
365,927
862,227
23,900
11,100
17,000
@
@
Russia: 0.7%
Mechel OAO ADR
Novolipetsk Steel GDR
OAO Gazprom ADR
679,238
384,552
445,570
1,509,360
Singapore: 1.0%
DBS Group Holdings Ltd.
Jardine Cycle & Carriage Ltd.
Keppel Corp. Ltd.
Singapore Airlines Ltd.
Singapore Exchange Ltd.
Singapore Press Holdings Ltd.
Singapore Technologies Engineering Ltd.
StarHub Ltd.
United Overseas Bank Ltd.
41,000
9,000
32,000
39,300
28,000
37,000
83,000
66,000
26,000
418,026
188,694
208,427
426,560
152,870
100,935
188,981
108,020
356,291
2,148,804
15,870
26,185
13,741
10,306
122,901
44,846
20,576
14,803
12,399
18,137
27,510
50,847
27,001
25,449
42,141
4,051
@
South Africa: 1.8%
ABSA Group Ltd.
African Bank Investments Ltd.
ArcelorMittal South Africa Ltd.
Exxaro Resources Ltd.
FirstRand Ltd.
Growthpoint Properties Ltd.
Impala Platinum Holdings Ltd.
Kumba Iron Ore Ltd.
Nedcor Ltd.
Pretoria Portland Cement Co. Ltd.
RMB Holdings Ltd.
Sanlam Ltd.
Standard Bank Group Ltd.
Steinhoff International Holdings Ltd.
Telkom SA Ltd.
Tiger Brands Ltd.
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309,308
127,895
174,252
177,971
341,082
91,044
604,051
714,852
238,904
85,039
122,367
173,326
422,892
69,778
197,499
101,802
3,952,062
South Korea: 0.2%
SK Telecom Co. Ltd.
S-Oil Corp.
1,823
4,134
280,018
208,333
488,351
Spain: 6.0%
Abertis Infraestructuras S.A.
ACS Actividades de Construccion y Servicios S.A.
Banco Bilbao Vizcaya Argentaria S.A.
Banco De Sabadell S.A.
Banco Espanol de Credito SA (Banesto)
Banco Popular Espanol S.A.
Banco Santander Central Hispano S.A.
Banco Santander S.A.
Bolsas y Mercados Espanoles
Corp. Mapfre S.A.
Criteria Caixacorp S.A.
Enagas
Fomento de Construcciones y Contratas S.A.
Gas Natural SDG S.A.
Gestevision Telecinco S.A.
Iberdrola S.A.
Inditex S.A.
Repsol YPF S.A.
Telefonica S.A.
13,069
7,730
90,957
34,207
22,181
36,954
228,928
8,748
3,174
79,007
91,063
4,808
4,286
36,275
12,558
110,817
13,136
32,798
124,471
251,706
356,665
1,243,840
188,942
233,616
271,788
3,036,521
115,585
84,956
289,705
451,810
105,321
156,755
669,047
197,225
938,367
866,391
776,932
2,949,296
13,184,468
Sweden: 1.4%
Atlas Copco AB - Class B
Hennes & Mauritz AB
Ratos AB
Sandvik AB
Securitas AB
Skanska AB
Svenska Handelsbanken AB
Tele2 AB - B Shares
TeliaSonera AB
6,705
14,919
3,340
27,885
7,740
12,015
12,942
10,578
86,439
93,919
970,135
110,703
348,354
82,513
218,231
379,731
176,355
613,754
2,993,695
1,103
13,887
835
6,643
48,505
14,998
ING
WisdomTreeSM
@
Switzerland: 2.4%
Baloise Holding AG
Compagnie Financiere Richemont S.A.
EMS-Chemie Holding AG
Holcim Ltd.
Novartis AG
STMicroelectronics NV
Global High-Yielding Equity Index Portfolio
97,822
538,472
114,549
495,071
2,623,827
148,341
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
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Shares
Value
1,324
3,281
Switzerland (continued)
Swisscom AG
Zurich Financial Services AG
$
483,583
841,556
5,343,221
63,000
246,000
90,000
106,000
257,550
632,532
269,592
111,714
74,011
97,360
117,159
245,350
336,245
346,180
286,800
20,050
22,200
415,000
511,650
87,220
140,560
94,000
78,000
621,427
101,000
361,000
Taiwan: 4.2%
Acer, Inc.
Advanced Semiconductor Engineering, Inc.
Asia Cement Corp.
Asustek Computer, Inc.
AU Optronics Corp.
China Steel Corp.
Chunghwa Telecom Co. Ltd.
Compal Electronics, Inc.
Delta Electronics, Inc.
Far Eastern Textile Co. Ltd.
Far EasTone Telecommunications Co. Ltd.
First Financial Holding Co. Ltd.
Formosa Chemicals & Fibre Co.
Formosa Petrochemical Corp.
Formosa Plastics Corp.
High Tech Computer Corp.
MediaTek, Inc.
Mega Financial Holdings Co. Ltd.
Nan Ya Plastics Corp.
Quanta Computer, Inc.
Siliconware Precision Industries Co.
Taiwan Cement Corp.
Taiwan Mobile Co. Ltd.
Taiwan Semiconductor Manufacturing Co. Ltd.
Uni-President Enterprises Corp.
United Microelectronics Corp.
86,500
280,100
66,300
27,600
64,100
Thailand: 0.4%
Advanced Info Service PCL
Krung Thai Bank PCL
PTT Chemical PCL
Siam Cement PCL
Thai Oil PCL
186,040
223,843
87,870
184,586
291,720
654,515
526,862
146,189
234,354
106,987
140,223
134,850
786,944
912,071
632,345
234,242
385,315
240,583
1,044,072
169,191
169,272
88,696
146,854
1,204,165
115,014
192,763
9,239,566
230,610
105,531
194,294
219,042
98,915
848,392
12,528
125,511
50,299
Turkey: 0.5%
Tupras Turkiye Petrol Rafine
Turk Telekomunikasyon AS
Turkcell Iletisim Hizmet AS
284,570
422,281
304,460
1,011,311
7,065
25,361
14,974
28,170
United Kingdom: 10.9%
Admiral Group PLC
Antofagasta PLC
Ashmore Group PLC
AstraZeneca PLC
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141,641
400,462
59,950
1,255,979
66,818
59,379
534,119
39,263
463,404
54,582
54,582
111,094
40,142
19,476
16,517
109,742
20,678
340,771
16,478
28,548
18,214
29,834
150,174
66,112
38,693
62,067
18,657
43,812
84,485
19,030
8,638
7,939
53,023
22,924
32,928
1,346,589
3,215
Aviva PLC
BAE Systems PLC
BP PLC
British American Tobacco PLC
BT Group PLC
Cable & Wireless Communications PLC
Cable & Wireless Worldwide
Centrica PLC
Diageo PLC
Drax Group PLC
Firstgroup PLC
GlaxoSmithKline PLC
Home Retail Group
HSBC Holdings PLC
ICAP PLC
International Power PLC
Investec PLC
J Sainsbury PLC
Legal & General Group PLC
Man Group PLC
Marks & Spencer Group PLC
National Grid PLC
Pearson PLC
Prudential PLC
Royal & Sun Alliance Insurance Group
Scottish & Southern Energy PLC
Severn Trent PLC
Smiths Group PLC
Standard Life PLC
Tate & Lyle PLC
United Utilities Group PLC
Vodafone Group PLC
Whitbread PLC
390,341
334,771
5,055,506
1,353,609
869,857
45,845
76,202
496,049
674,901
110,522
89,957
2,106,469
85,077
3,453,336
93,408
138,616
148,896
148,420
200,251
242,009
217,458
604,183
292,488
362,441
163,560
318,200
156,618
136,955
161,034
157,927
279,512
3,114,544
71,975
24,008,969
ING
WisdomTreeSM
Global High-Yielding Equity Index Portfolio
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
15,800
2,900
11,400
65,450
8,250
10,200
163,050
2,800
Value
United States: 23.7%
Alcoa, Inc.
Alliant Energy Corp.
Allstate Corp.
Altria Group, Inc.
Ameren Corp.
American Electric Power Co., Inc.
AT&T, Inc.
Avery Dennison Corp.
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$
224,992
96,454
368,334
1,343,034
215,160
348,636
4,213,212
101,948
224,780
18,950
49,300
12,300
22,600
9,900
8,343
5,000
5,000
7,050
4,900
3,700
12,400
32,950
2,700
4,600
33,750
1,500
3,000
7,000
24,350
26,650
11,300
6,100
10,500
8,300
2,800
20,050
430,050
3,450
6,500
9,900
6,100
2,950
9,950
8,100
27,350
2,400
4,700
7,100
6,700
3,800
2,800
8,500
12,900
6,900
6,500
4,300
52,100
4,600
13,850
Bank of America Corp.
BB&T Corp.
Bristol-Myers Squibb Co.
Caterpillar, Inc.
CBS Corp. - Class B
CenterPoint Energy, Inc.
CenturyTel, Inc.
Cincinnati Financial Corp.
Comerica, Inc.
Consolidated Edison, Inc.
Constellation Energy Group, Inc.
Diamond Offshore Drilling
Dominion Resources, Inc.
Dow Chemical Co.
DPL, Inc.
DTE Energy Co.
Duke Energy Corp.
Eastman Chemical Co.
Eaton Corp.
Edison International
EI Du Pont de Nemours & Co.
Eli Lilly & Co.
Exelon Corp.
Fidelity National Title Group, Inc.
Fifth Third Bancorp.
FirstEnergy Corp.
Fortune Brands, Inc.
Frontier Communications Corp.
General Electric Co.
Genuine Parts Co.
Harley-Davidson, Inc.
Hartford Financial Services Group, Inc.
HJ Heinz Co.
Integrys Energy Group, Inc.
International Paper Co.
Kimberly-Clark Corp.
Kraft Foods, Inc.
Legg Mason, Inc.
Leggett & Platt, Inc.
Limited Brands, Inc.
Lincoln National Corp.
Lorillard, Inc.
M&T Bank Corp.
Marsh & McLennan Cos., Inc.
Masco Corp.
Mattel, Inc.
Maxim Integrated Products
MeadWestvaco Corp.
Merck & Co., Inc.
Microchip Technology, Inc.
New York Community Bancorp., Inc.
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4,012,323
613,791
1,316,310
773,055
315,044
142,164
295,843
144,500
190,200
314,007
172,039
328,597
509,764
974,332
73,413
205,160
550,800
95,520
227,310
239,190
906,794
965,263
495,053
90,402
142,695
324,447
135,828
149,172
7,826,910
145,728
182,455
281,358
278,221
139,771
244,870
509,328
827,064
68,808
101,708
174,802
205,690
285,912
222,264
207,570
200,208
156,906
126,035
109,865
1,945,935
129,536
229,079
6,300
9,300
1,400
2,300
6,900
2,200
6,450
5,250
7,400
207,000
41,600
2,600
5,800
3,000
7,600
57,700
47,350
11,000
6,600
14,100
3,100
17,850
17,900
15,000
Newell Rubbermaid, Inc.
NiSource, Inc.
NSTAR
OGE Energy Corp.
Old Republic International Corp.
Oneok, Inc.
Pacific Gas & Electric Co.
Paychex, Inc.
Pepco Holdings, Inc.
Pfizer, Inc.
Philip Morris International, Inc.
Pinnacle West Capital Corp.
Pitney Bowes, Inc.
PPG Industries, Inc.
Progress Energy, Inc.
Qwest Communications International, Inc.
Regions Financial Corp.
Reynolds American, Inc.
RR Donnelley & Sons Co.
Sara Lee Corp.
SCANA Corp.
Southern Co.
Southern Copper Corp.
Spectra Energy Corp.
ING WisdomTreeSM Global High-Yielding Equity Index Portfolio
95,760
146,940
49,588
89,562
87,492
100,430
273,609
161,175
126,910
3,550,050
2,169,856
98,098
141,810
196,200
299,136
301,194
371,698
593,780
140,910
196,413
116,529
591,906
566,893
337,950
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
13,650
6,000
7,000
52,900
71,200
2,100
5,150
22,450
9,950
United States (continued)
SunTrust Bank
TECO Energy, Inc.
Textron, Inc.
US Bancorp.
Verizon Communications, Inc.
Vulcan Materials Co.
Weyerhaeuser Co.
Windstream Corp.
Xcel Energy, Inc.
$
365,684
95,340
148,610
1,369,052
2,208,624
99,204
233,141
244,481
210,940
51,993,774
Total Common Stock
(Cost $201,301,261)
204,415,710
REAL ESTATE INVESTMENT TRUSTS: 2.6%
10,948
Canada: 0.1%
RioCan Real Estate Investment Trust
199,202
199,202
France: 0.6%
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1,390
3,471
1,029
4,474
2,555
Fonciere Des Regions
Gecina S.A.
ICADE
Klepierre
Unibail
152,923
384,197
114,696
175,297
517,261
1,344,374
1,843
Netherlands: 0.1%
Corio NV
122,993
122,993
16,637
22,817
49,544
United Kingdom: 0.3%
British Land Co. PLC
Land Securities Group PLC
Segro PLC
121,267
234,615
240,692
596,574
3,200
2,000
2,800
10,200
9,600
1,200
9,000
3,500
18,600
3,800
3,000
4,000
20,000
2,500
3,200
2,400
4,100
4,100
4,613
United States: 1.5%
AMB Property Corp.
AvalonBay Communities, Inc.
Boston Properties, Inc.
Duke Realty Corp.
Equity Residential
Federal Realty Investment Trust
HCP, Inc.
Health Care Real Estate Investment Trust, Inc.
Kimco Realty Corp.
Liberty Property Trust
Nationwide Health Properties, Inc.
Plum Creek Timber Co., Inc.
ProLogis
Rayonier, Inc.
Realty Income Corp.
Regency Centers Corp.
Senior Housing Properties Trust
Ventas, Inc.
Vornado Realty Trust
87,168
172,700
211,232
126,480
375,840
87,372
297,000
158,305
290,904
128,972
105,450
155,640
264,000
113,575
98,208
89,928
90,815
194,668
349,204
3,397,461
Total Real Estate Investment Trusts
(Cost $4,642,157)
5,660,604
EXCHANGE-TRADED FUNDS: 3.9%
83,013
Developed Markets: 2.1%
iShares MSCI EAFE Index Fund
4,648,728
4,648,728
26,967
Emerging Markets: 0.5%
iShares MSCI Emerging Markets Index Fund
48,806
United States: 1.3%
iShares S&P 500 Value Index Fund
1,135,850
1,135,850
2,755,587
2,755,587
Total Exchange-Traded Funds
(Cost $8,172,556)
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8,540,165
RIGHTS: 0.0%
4,454
Australia: 0.0%
Lend Lease Corp., Ltd.
3,678
Total Rights
(Cost $-)
3,678
France: 0.0%
Fonciere Des Regions
2,317
WARRANTS: 0.0%
2,067
2,317
ING
WisdomTreeSM
Global High-Yielding Equity Index Portfolio
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Shares
Value
Italy: 0.0%
Mediobanca S.p.A.
26,581
$
3,360
3,360
Total Warrants
(Cost $1,226)
5,677
Total Long-Term Investments
(Cost $214,117,200)
218,625,834
SHORT-TERM INVESTMENTS: 0.5%
1,090,000
Affiliated Mutual Fund: 0.5%
ING Institutional Prime Money Market Fund - Class I
1,090,000
Total Short-Term Investments
(Cost $1,090,000)
1,090,000
Total Investments in Securities
(Cost $215,207,200)*
Other Assets and Liabilities - Net
Net Assets
@
ADR
GDR
*
100.2%
(0.2)
$
219,715,834
(420,902)
100.0%
$
219,294,932
$
21,528,974
(21,074,197)
$
454,777
Non-income producing security
American Depositary Receipt
Global Depositary Receipt
Cost for federal income tax purposes is $219,261,057.
Net unrealized appreciation consists of:
Gross Unrealized Appreciation
Gross Unrealized Depreciation
Net Unrealized Appreciation
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ING WisdomTreeSM Global High-Yielding Equity Index Portfolio
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Percentage of
Industry
Aerospace/Defense
Agriculture
Airlines
Apartments
Apparel
Banks
Beverages
Building Materials
Chemicals
Coal
Commercial Services
Computers
Cosmetics/Personal Care
Distribution/Wholesale
Diversified
Diversified Financial Services
Electric
Electrical Components & Equipment
Electronics
Engineering & Construction
Entertainment
Food
Forest Products & Paper
Forestry
Gas
Hand/Machine Tools
Health Care
Holding Companies - Diversified
Home Furnishings
Household Products/Wares
Housewares
Insurance
Investment Companies
Iron/Steel
Leisure Time
Lodging
Machinery - Construction & Mining
Machinery - Diversified
Media
Metal Fabricate/Hardware
Mining
Miscellaneous Manufacturing
Office Property
Office/Business Equipment
Oil & Gas
Oil & Gas Services
Net Assets
0.3%
2.9
0.3
0.2
0.0
15.8
0.5
1.0
3.7
0.1
0.8
0.4
0.1
0.1
1.2
1.2
8.5
0.5
0.4
1.1
0.2
1.5
0.4
0.1
1.0
0.2
0.4
0.4
0.0
0.3
0.0
4.7
0.2
2.0
0.1
0.2
0.4
0.1
1.6
0.2
0.9
3.9
0.1
0.1
10.8
0.2
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Packaging & Containers
Paper & Related Products
Pharmaceuticals
Pipelines
Real Estate
Retail
Savings & Loans
Semiconductors
Shopping Centers
Single Tenant
Software
Telecommunications
Toys/Games/Hobbies
Transportation
Warehouse/Industrial
Water
Other Long-Term Investments
Short-Term Investments
Other Assets and Liabilities - Net
Net Assets
ING
WisdomTreeSM
0.0
0.1
7.7
0.4
0.2
1.9
0.1
1.2
0.3
0.0
0.1
13.5
0.1
0.4
0.2
0.5
3.9
0.5
(0.2)
100.0%
PORTFOLIO OF INVESTMENTS
as of March 31, 2010 (Unaudited) (continued)
Global High-Yielding Equity Index Portfolio
Fair Value Measurements
The following is a summary of the fair valuations according to the inputs used as of March 31, 2010 in valuing the Portfolio’s assets and
liabilities:
Asset Table
Investments, at value
Common Stock
Australia
Austria
Belgium
Brazil
Canada
Chile
China
Czech Republic
Finland
France
Germany
Greece
$
Quoted Prices
Significant Other
Significant
in Active Markets
Observable
Unobservable
Fair Value
for Identical Investments
Inputs#
Inputs
at
(Level 1)
(Level 2)
(Level 3)
3/31/2010
186,995
—
—
3,645,381
13,116,450
616,014
—
—
—
—
—
—
$
11,664,102
435,815
843,638
—
—
—
173,173
1,148,070
1,876,358
17,133,936
10,807,317
647,274
Copyright © 2012 www.secdatabase.com. All Rights Reserved.
Please Consider the Environment Before Printing This Document
$
—
—
—
—
—
—
—
—
—
—
—
—
$
11,851,097
435,815
843,638
3,645,381
13,116,450
616,014
173,173
1,148,070
1,876,358
17,133,936
10,807,317
647,274
Hong Kong
Hungary
Israel
Italy
Japan
Malaysia
Mexico
Netherlands
New Zealand
Norway
Philippines
Poland
Portugal
Russia
Singapore
South Africa
South Korea
Spain
Sweden
Switzerland
Taiwan
Thailand
Turkey
United Kingdom
United States
Total Common Stock
Real Estate Investment Trusts
Exchange-Traded Funds
Rights
Warrants
Short-Term Investments
Total Investments, at value
$
260,965
—
—
—
—
136,395
141,341
—
—
—
—
—
—
1,124,808
—
—
280,018
—
—
—
—
—
—
122,047
51,993,774
972,770
269,305
983,522
7,865,025
1,813,106
1,460,079
—
7,600,095
199,612
2,015,355
363,414
456,003
862,227
384,552
2,148,804
3,952,062
208,333
13,184,468
2,993,695
5,343,221
9,239,566
848,392
1,011,311
23,886,922
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
1,233,735
269,305
983,522
7,865,025
1,813,106
1,596,474
141,341
7,600,095
199,612
2,015,355
363,414
456,003
862,227
1,509,360
2,148,804
3,952,062
488,351
13,184,468
2,993,695
5,343,221
9,239,566
848,392
1,011,311
24,008,969
51,993,774
71,624,188
132,791,522
—
204,415,710
3,596,663
8,540,165
—
5,677
1,090,000
2,063,941
—
3,678
—
—
—
—
—
—
—
5,660,604
8,540,165
3,678
5,677
1,090,000
84,856,693
$
134,859,141
$
—
$
219,715,834
# The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have
occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of
its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a
significant portion of the Portfolio’s investments are categorized as Level 2 investments.
Item 2. Controls and Procedures.
(a)
Based on our evaluation conducted within 90 days of the filing date, hereof, the design and operation of the registrant’s disclosure
controls and procedures are effective to ensure that material information relating to the registrant is made known to the certifying
officers by others within the appropriate entities, particularly during the period in which Forms N-Q are being prepared, and the
registrant’s disclosure controls and procedures allow timely preparation and review of the information for the registrant’s Form NQ and the officer certifications of such Form N-Q.
(b)
There were no significant changes in the registrant’s internal controls over financial reporting that occurred during the registrant’s last
fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the
registrant’s internal control over financial reporting.
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Item 3. Exhibits.
A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2 under the
Act (17 CFR 270.30a-2) is attached hereto as 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):
By
ING Variable Portfolios, Inc.
/s/ Shaun P. Mathews
Shaun P. Mathews
President and Chief Executive Officer
Date: May 26, 2010
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/ Shaun P. Mathews
Shaun P. Mathews
President and Chief Executive Officer
Date: May 26, 2010
By
/s/ Todd Modic
Todd Modic
Senior Vice President and Chief Financial Officer
Date: May 26, 2010
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Exhibit 99.CERT
CERTIFICATION
I, Shaun P. Mathews, certify that:
1.
I have reviewed this report on Form N-Q of ING Variable Portfolios, Inc.;
2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the
period covered by this report;
3.
Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of
the registrant as of the end of the fiscal quarter for which the report is filed;
4.
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures
(as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in
Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
5.
Date:
a)
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our
supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made
known to us by others within those entities, particularly during the period in which this report is being prepared;
b)
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed
under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with generally accepted accounting principles;
c)
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this
report based on such evaluation; and
d)
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the
registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s
internal control over financial reporting; and
The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s
board of directors (or persons performing the equivalent functions):
a)
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting
which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial
information; and
b)
Any fraud, whether or not material, that involves management or other employees who have a significant role in the
registrant’s internal controls over financial reporting.
May 26, 2010
/s/ Shaun P. Mathews
Shaun P. Mathews
President and Chief Executive Officer
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CERTIFICATION
I, Todd Modic, certify that:
1.
I have reviewed this report on Form N-Q of ING Variable Portfolios, Inc.;
2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the
period covered by this report;
3.
Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of
the registrant as of the end of the fiscal quarter for which the report is filed;
4.
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures
(as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in
Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
5.
Date:
a)
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our
supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made
known to us by others within those entities, particularly during the period in which this report is being prepared;
b)
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed
under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with generally accepted accounting principles;
c)
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this
report based on such evaluation; and
d)
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the
registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s
internal control over financial reporting; and
The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s
board of directors (or persons performing the equivalent functions):
a)
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting
which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial
information; and
b)
Any fraud, whether or not material, that involves management or other employees who have a significant role in the
registrant’s internal controls over financial reporting.
May 26, 2010
/s/ Todd Modic
Todd Modic
Senior Vice President and Chief Financial Officer
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