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 811-5823
DOMINI SOCIAL INVESTMENT TRUST
(Exact Name of Registrant as Specified in Charter)
532 Broadway, 9
th
Floor, New York, New York 10012
(Address of Principal Executive Offices)
Amy Domini Thornton
Domini Social Investments LLC
532 Broadway, 9
th
Floor
New York, New York 10012
(Name and Address of Agent for Service)
Registrant’s Telephone Number, including Area Code: 212-217-1100
Date of Fiscal Year End: July 31
Date of Reporting Period: October 31, 2012
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Item 1.
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Schedule of Investments.
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The Schedules
of Investments for each series of the Domini Social Investment Trust are set forth below.
Domini Social Equity Fund
®
Domini International Social
Equity Fund
SM
Domini Social Bond Fund
®
each a series of
Domini Social Investment Trust
Quarterly Holdings Report
October 31,
2012 (Unaudited)
Domini Social Equity Fund
Portfolio of Investments
October 31, 2012 (unaudited)
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Security
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Shares
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Value
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Common Stocks—99.1%
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Consumer Discretionary—12.4%
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AutoZone Inc (a)
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12,800
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$
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4,800,000
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Best Buy Co Inc
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316
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4,806
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Chipotle Mexican Grill Inc (a)
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6,935
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1,765,166
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Coach Inc
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70,233
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3,936,560
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DIRECTV (a)
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260,400
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13,309,044
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Expedia Inc
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36,400
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2,153,060
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Gannett Co Inc
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141,000
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2,382,900
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Gap Inc/The
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157,545
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5,627,507
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Garmin Ltd
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129,100
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4,904,509
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Home Depot Inc/The
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218
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13,381
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JC Penney Co Inc
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236
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5,666
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Johnson Controls Inc
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283
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7,287
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Lowe’s Cos Inc
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364
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11,786
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Ltd Brands Inc
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219
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10,488
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Macy’s Inc
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48,700
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1,854,009
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Marriott International Inc/DE Cl A
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230,900
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8,423,232
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McDonald’s Corp
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101
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8,767
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NIKE Inc Cl B
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94
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8,590
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O’Reilly Automotive Inc (a)
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73,300
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6,280,344
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priceline.com Inc (a)
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17,250
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9,897,533
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Ross Stores Inc
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199,700
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12,171,715
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Scholastic Corp
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316
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10,425
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Scripps Networks Interactive Inc Cl A
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39,800
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2,416,656
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Staples Inc
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666
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7,669
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Starbucks Corp
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207
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9,501
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TJX Cos Inc
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373,000
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15,527,990
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Target Corp
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181
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11,539
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Tiffany & Co
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152
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9,609
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Walt Disney Co/The
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242
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11,875
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95,581,614
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Consumer Staples—11.4%
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Avon Products Inc
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374
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5,793
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Bunge Ltd
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148
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10,512
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Campbell Soup Co
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495,500
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17,476,285
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Coca-Cola Co/The
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138,992
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5,167,723
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Coca-Cola Enterprises Inc
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72,300
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2,273,112
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Colgate-Palmolive Co
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18,200
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1,910,272
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Costco Wholesale Corp
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120
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11,812
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Dean Foods Co (a)
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644,500
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10,853,380
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Herbalife Ltd
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175,900
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9,032,465
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Hershey Co/The
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143
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9,846
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Hillshire Brands Co
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257,900
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6,707,979
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JM Smucker Co/The
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23,100
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1,978,284
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Kimberly-Clark Corp
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57,841
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4,826,831
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Kraft Foods Group Inc (a)
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223
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10,142
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Kroger Co/The
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765,730
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19,311,710
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Mondelez International Inc Cl A
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265
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7,033
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Monster Beverage Corp (a)
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140,400
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6,271,668
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PepsiCo Inc
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161
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11,148
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Procter & Gamble Co/The
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155
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10,732
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Saputo Inc
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46,800
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2,052,270
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Whole Foods Market Inc
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124
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11,747
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87,950,744
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Energy—8.9%
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ARC Resources Ltd
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78,300
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1,899,725
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Anadarko Petroleum Corp
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115
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7,913
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Apache Corp
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265,491
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21,969,380
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Cie Generale de Geophysique - Veritas ADR (a)
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73,300
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2,380,784
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Concho Resources Inc (a)
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149,600
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12,883,552
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Devon Energy Corp
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34,635
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2,016,103
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Energen Corp
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187
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8,724
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Ensco PLC Cl A
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50,800
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2,937,256
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National Oilwell Varco Inc
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205,920
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15,176,304
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Pioneer Natural Resources Co
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88
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9,297
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Plains Exploration & Production Co (a)
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199,100
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7,099,906
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QEP Resources Inc
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67,800
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1,966,200
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Southwestern Energy Co (a)
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287
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9,959
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68,365,103
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Financials—14.6%
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American Capital Agency Corp
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463,900
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15,317,978
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American Express Co
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191
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10,690
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Annaly Capital Management Inc
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898,700
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14,505,018
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BB&T Corp
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95,300
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2,758,935
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Discover Financial Services
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448,300
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18,380,300
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Fifth Third Bancorp
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980,500
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14,246,665
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JPMorgan Chase & Co
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203,237
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8,470,918
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Kimco Realty Corp
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258,300
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5,042,016
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NYSE Euronext
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343
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8,493
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ORIX Corp ADR
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169,800
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8,719,230
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PNC Financial Services Group Inc
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78,300
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4,556,277
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Principal Financial Group Inc
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55,800
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1,536,732
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Reinsurance Group of America Inc
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92,300
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4,884,516
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SunTrust Banks Inc
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325,900
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8,864,480
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Torchmark Corp
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91,400
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4,623,926
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US Bancorp
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346
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11,491
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111,937,665
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Health Care—12.0%
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Amgen Inc
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208,658
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18,058,306
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Becton Dickinson and Co
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|
128
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|
|
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9,687
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Biogen Idec Inc (a)
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75,500
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10,435,610
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Bristol-Myers Squibb Co
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|
|
525,900
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|
17,486,175
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Celgene Corp (a)
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|
200,600
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|
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|
14,707,992
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Gilead Sciences Inc (a)
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30,110
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2,022,188
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McKesson Corp
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|
161,000
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|
|
|
15,022,910
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Mylan Inc/PA (a)
|
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|
81,900
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|
|
|
2,075,346
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St Jude Medical Inc
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|
180,700
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6,913,582
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Zimmer Holdings Inc
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91,400
|
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5,868,794
|
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92,600,590
|
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Industrials—7.9%
|
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3M Co
|
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|
267,715
|
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|
23,451,833
|
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Copart Inc (a)
|
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|
111,800
|
|
|
|
3,218,722
|
|
|
Cummins Inc
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|
83
|
|
|
|
7,767
|
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Dun & Bradstreet Corp/The
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|
160,300
|
|
|
|
12,990,711
|
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Equifax Inc
|
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|
210,000
|
|
|
|
10,508,400
|
|
|
Flowserve Corp
|
|
|
43,100
|
|
|
|
5,839,619
|
|
|
Herman Miller Inc
|
|
|
422
|
|
|
|
8,183
|
|
|
Interface Inc
|
|
|
692
|
|
|
|
9,903
|
|
|
JetBlue Airways Corp (a)
|
|
|
1,688
|
|
|
|
8,930
|
|
|
RR Donnelley & Sons Co
|
|
|
147,429
|
|
|
|
1,477,239
|
|
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Roper Industries Inc
|
|
|
31,000
|
|
|
|
3,384,270
|
|
|
Southwest Airlines Co
|
|
|
1,054
|
|
|
|
9,296
|
|
|
United Parcel Service Inc Cl B
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|
|
131
|
|
|
|
9,596
|
|
|
|
|
|
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|
|
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|
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|
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|
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60,924,469
|
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Information Technology—20.6%
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|
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Advanced Micro Devices Inc (a)
|
|
|
3,150
|
|
|
|
6,458
|
|
|
Apple Inc
|
|
|
82,690
|
|
|
|
49,208,818
|
|
|
Applied Materials Inc
|
|
|
762
|
|
|
|
8,077
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|
|
CA Inc
|
|
|
363,300
|
|
|
|
8,181,516
|
|
|
Cisco Systems Inc
|
|
|
584,104
|
|
|
|
10,011,543
|
|
|
Dell Inc
|
|
|
560
|
|
|
|
5,169
|
|
|
EMC Corp/MA (a)
|
|
|
373
|
|
|
|
9,109
|
|
|
F5 Networks Inc (a)
|
|
|
18,700
|
|
|
|
1,542,376
|
|
|
First Solar Inc (a)
|
|
|
358
|
|
|
|
8,703
|
|
|
Google Inc Cl A (a)
|
|
|
15,216
|
|
|
|
10,343,380
|
|
|
Hewlett-Packard Co
|
|
|
340
|
|
|
|
4,709
|
|
|
Intel Corp
|
|
|
87,841
|
|
|
|
1,899,562
|
|
|
International Business Machines Corp
|
|
|
27,752
|
|
|
|
5,398,597
|
|
|
Mastercard Inc Cl A
|
|
|
26,800
|
|
|
|
12,352,924
|
|
|
Microsoft Corp
|
|
|
1,053,839
|
|
|
|
30,071,295
|
|
|
Motorola Solutions Inc
|
|
|
201
|
|
|
|
10,388
|
|
|
Oracle Corp
|
|
|
752,100
|
|
|
|
23,352,705
|
|
|
Power Integrations Inc
|
|
|
260
|
|
|
|
7,691
|
|
|
SunPower Corp (a)
|
|
|
1,124
|
|
|
|
4,844
|
|
|
Symantec Corp (a)
|
|
|
320,000
|
|
|
|
5,820,800
|
|
|
Texas Instruments Inc
|
|
|
300
|
|
|
|
8,427
|
|
|
Xerox Corp
|
|
|
1,209
|
|
|
|
7,786
|
|
|
Yahoo! Inc (a)
|
|
|
649
|
|
|
|
10,910
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
158,275,787
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Materials—2.2%
|
|
|
|
|
|
|
|
|
|
International Paper Co
|
|
|
302
|
|
|
|
10,821
|
|
|
MeadWestvaco Corp
|
|
|
329
|
|
|
|
9,768
|
|
|
Nucor Corp
|
|
|
230
|
|
|
|
9,230
|
|
|
PPG Industries Inc
|
|
|
25,900
|
|
|
|
3,032,372
|
|
|
Rexam PLC ADR
|
|
|
28,700
|
|
|
|
1,031,765
|
|
|
Sherwin-Williams Co/The
|
|
|
77,100
|
|
|
|
10,992,918
|
|
|
Valspar Corp
|
|
|
37,300
|
|
|
|
2,089,919
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
17,176,793
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Telecommunication Services—6.2%
|
|
|
|
|
|
|
|
|
|
AT&T Inc
|
|
|
145,635
|
|
|
|
5,037,515
|
|
|
|
|
|
|
|
|
|
|
|
|
Rogers Communications Inc Cl B
|
|
|
77,600
|
|
|
|
3,408,192
|
|
|
SK Telecom Co Ltd ADR
|
|
|
131,100
|
|
|
|
2,049,093
|
|
|
TELUS Corp
|
|
|
196,600
|
|
|
|
12,643,346
|
|
|
Telecom Corp of New Zealand Ltd ADR
|
|
|
254,900
|
|
|
|
2,485,275
|
|
|
Verizon Communications Inc
|
|
|
501,563
|
|
|
|
22,389,772
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
48,013,193
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Utilities—2.9%
|
|
|
|
|
|
|
|
|
|
Cia de Saneamento Basico do Estado de Sao Paulo ADR
|
|
|
120,600
|
|
|
|
10,131,606
|
|
|
Integrys Energy Group Inc
|
|
|
185
|
|
|
|
9,997
|
|
|
NV Energy Inc
|
|
|
110,800
|
|
|
|
2,106,308
|
|
|
National Grid PLC ADR
|
|
|
179,700
|
|
|
|
10,244,697
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
22,492,608
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments—99.1% (Cost $636,895,642) (b)
|
|
|
|
|
|
|
763,318,566
|
|
|
|
|
|
|
Other Assets, less liabilities—0.9%
|
|
|
|
|
|
|
7,054,586
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets—100.0%
|
|
|
|
|
|
$
|
770,373,152
|
|
|
|
|
|
|
|
|
|
|
|
|
(a)
|
Non-income producing security.
|
|
(b)
|
The aggregate cost for federal income tax purposes is $638,453,406. The aggregate gross unrealized appreciation is $136,350,875 and the aggregate gross unrealized
depreciation is $11,485,715, resulting in net unrealized appreciation of $124,865,160.
|
ADR — American Depository Receipt
SEE NOTES TO PORTFOLIO OF INVESTMENTS
Domini International Social Equity Fund
Portfolio of Investments
October 31, 2012 (unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Country Security
|
|
Industry
|
|
Shares
|
|
|
Value
|
|
|
Common Stock—96.5%
|
|
|
|
|
|
|
|
|
|
|
|
Australia—6.4%
|
|
|
|
|
|
|
|
|
|
|
|
AWE Ltd
|
|
Energy
|
|
|
400,901
|
|
|
|
552,900
|
|
|
CSL Ltd
|
|
Pharma, Biotech & Life Sciences
|
|
|
65,788
|
|
|
|
3,240,395
|
|
|
Dexus Property Group
|
|
Real Estate
|
|
|
703,052
|
|
|
|
718,094
|
|
|
Fairfax Media Ltd
|
|
Media
|
|
|
1,877,230
|
|
|
|
768,904
|
|
|
GPT Group
|
|
Real Estate
|
|
|
393,313
|
|
|
|
1,451,931
|
|
|
Insurance Australia Group Ltd
|
|
Insurance
|
|
|
49,013
|
|
|
|
233,282
|
|
|
National Australia Bank Ltd
|
|
Banks
|
|
|
8,813
|
|
|
|
235,685
|
|
|
Suncorp Group Ltd
|
|
Insurance
|
|
|
156,348
|
|
|
|
1,523,975
|
|
|
Westpac Banking Corp
|
|
Banks
|
|
|
22,839
|
|
|
|
604,151
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,329,317
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Austria—0.8%
|
|
|
|
|
|
|
|
|
|
|
|
Raiffeisen Bank International AG
|
|
Banks
|
|
|
29,952
|
|
|
|
1,197,344
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,197,344
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Belgium—0.5%
|
|
|
|
|
|
|
|
|
|
|
|
Belgacom SA
|
|
Telecommunication Services
|
|
|
19,565
|
|
|
|
571,695
|
|
|
KBC Groep NV
|
|
Banks
|
|
|
5,782
|
|
|
|
135,686
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
707,381
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brazil—1.7%
|
|
|
|
|
|
|
|
|
|
|
|
Banco do Brasil SA
|
|
Banks
|
|
|
19,500
|
|
|
|
208,145
|
|
|
Cia de Saneamento Basico do Estado de Sao Paulo ADR
|
|
Utilities
|
|
|
20,400
|
|
|
|
1,713,804
|
|
|
Natura Cosmeticos SA
|
|
Household & Personal Products
|
|
|
23,200
|
|
|
|
618,811
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,540,760
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
China—1.3%
|
|
|
|
|
|
|
|
|
|
|
|
Beijing Capital International Airport Co Ltd Cl H
|
|
Transportation
|
|
|
1,582,000
|
|
|
|
1,018,597
|
|
|
Byd Co Ltd Cl H (a)
|
|
Automobiles & Components
|
|
|
3,000
|
|
|
|
5,930
|
|
|
China Overseas Land & Investment Ltd
|
|
Real Estate
|
|
|
314,000
|
|
|
|
826,524
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,851,051
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Denmark—2.9%
|
|
|
|
|
|
|
|
|
|
|
|
H Lundbeck A/S
|
|
Pharma, Biotech & Life Sciences
|
|
|
22,864
|
|
|
|
397,973
|
|
|
Novo Nordisk A/S Cl B
|
|
Pharma, Biotech & Life Sciences
|
|
|
19,641
|
|
|
|
3,164,546
|
|
|
Pandora A/S
|
|
Consumer Durables & Apparel
|
|
|
43,355
|
|
|
|
688,366
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,250,885
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Finland—0.7%
|
|
|
|
|
|
|
|
|
|
|
|
Metso OYJ
|
|
Capital Goods
|
|
|
28,250
|
|
|
|
990,934
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
990,934
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
France—7.4%
|
|
|
|
|
|
|
|
|
|
|
|
Accor SA
|
|
Consumer Services
|
|
|
6,283
|
|
|
|
195,966
|
|
|
AXA SA
|
|
Insurance
|
|
|
102,835
|
|
|
|
1,634,355
|
|
|
Cie Generale de Geophysique —Veritas (a)
|
|
Energy
|
|
|
15,241
|
|
|
|
497,880
|
|
|
Ciments Francais SA
|
|
Materials
|
|
|
3,925
|
|
|
|
238,788
|
|
|
Credit Agricole SA (a)
|
|
Banks
|
|
|
150,509
|
|
|
|
1,132,732
|
|
|
Etablissements Maurel et Prom
|
|
Energy
|
|
|
90,103
|
|
|
|
1,253,954
|
|
|
Lafarge SA
|
|
Materials
|
|
|
24,062
|
|
|
|
1,408,692
|
|
|
Sanofi
|
|
Pharma, Biotech & Life Sciences
|
|
|
25,591
|
|
|
|
2,248,967
|
|
|
SCOR SE
|
|
Insurance
|
|
|
35,513
|
|
|
|
947,505
|
|
|
Societe Generale SA (a)
|
|
Banks
|
|
|
29,938
|
|
|
|
951,415
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unibail-Rodamco SE
|
|
Real Estate
|
|
|
1,317
|
|
|
|
296,687
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,806,941
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Germany—8.9%
|
|
|
|
|
|
|
|
|
|
|
|
Adidas AG
|
|
Consumer Durables & Apparel
|
|
|
6,307
|
|
|
|
537,187
|
|
|
Continental AG
|
|
Automobiles & Components
|
|
|
23,301
|
|
|
|
2,334,858
|
|
|
Deutsche Post AG
|
|
Transportation
|
|
|
131,940
|
|
|
|
2,614,953
|
|
|
Generali Deutschland Holding AG
|
|
Insurance
|
|
|
2,793
|
|
|
|
234,885
|
|
|
Hannover Rueckversicherung AG
|
|
Insurance
|
|
|
9,185
|
|
|
|
645,917
|
|
|
Merck KGaA
|
|
Pharma, Biotech & Life Sciences
|
|
|
5,188
|
|
|
|
662,849
|
|
|
Muenchener Rueckversicherungs AG
|
|
Insurance
|
|
|
12,000
|
|
|
|
1,928,150
|
|
|
SAP AG
|
|
Software & Services
|
|
|
19,349
|
|
|
|
1,409,071
|
|
|
Suedzucker AG
|
|
Food & Beverage
|
|
|
66,916
|
|
|
|
2,592,188
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12,960,058
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hong Kong—4.0%
|
|
|
|
|
|
|
|
|
|
|
|
Great Eagle Holdings Ltd
|
|
Real Estate
|
|
|
73,019
|
|
|
|
216,229
|
|
|
Hongkong Land Holdings Ltd
|
|
Real Estate
|
|
|
150,000
|
|
|
|
952,500
|
|
|
Hysan Development Co Ltd
|
|
Real Estate
|
|
|
58,000
|
|
|
|
257,818
|
|
|
Link REIT/The
|
|
Real Estate
|
|
|
102,110
|
|
|
|
507,253
|
|
|
New World Development Co Ltd
|
|
Real Estate
|
|
|
525,000
|
|
|
|
811,543
|
|
|
Swire Pacific Ltd Cl A
|
|
Real Estate
|
|
|
53,000
|
|
|
|
630,867
|
|
|
Wharf Holdings Ltd
|
|
Real Estate
|
|
|
148,000
|
|
|
|
1,015,942
|
|
|
Wheelock & Co Ltd
|
|
Real Estate
|
|
|
325,471
|
|
|
|
1,429,963
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,822,115
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Indonesia—0.1%
|
|
|
|
|
|
|
|
|
|
|
|
Telekomunikasi Indonesia Persero Tbk PT
|
|
Telecommunication Services
|
|
|
168,000
|
|
|
|
170,536
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
170,536
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ireland—0.5%
|
|
|
|
|
|
|
|
|
|
|
|
Irish Bank Resolution Corp Ltd (a)(c)
|
|
Banks
|
|
|
138,674
|
|
|
|
0
|
|
|
Smurfit Kappa Group PLC
|
|
Materials
|
|
|
60,293
|
|
|
|
664,085
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
664,085
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Italy—2.2%
|
|
|
|
|
|
|
|
|
|
|
|
Parmalat SpA
|
|
Food & Beverage
|
|
|
981,937
|
|
|
|
2,224,145
|
|
|
Tenaris SA
|
|
Energy
|
|
|
49,753
|
|
|
|
930,301
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,154,446
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Japan—17.1%
|
|
|
|
|
|
|
|
|
|
|
|
Aeon Co Ltd
|
|
Food & Staples Retailing
|
|
|
41,449
|
|
|
|
451,671
|
|
|
Amada Co Ltd
|
|
Capital Goods
|
|
|
23,000
|
|
|
|
116,539
|
|
|
Aoyama Trading Co Ltd
|
|
Retailing
|
|
|
44,786
|
|
|
|
883,617
|
|
|
Astellas Pharma Inc
|
|
Pharma, Biotech & Life Sciences
|
|
|
23,184
|
|
|
|
1,150,063
|
|
|
Central Japan Railway Co
|
|
Transportation
|
|
|
32,500
|
|
|
|
2,793,382
|
|
|
Dai Nippon Printing Co Ltd
|
|
Commercial & Professional Services
|
|
|
187,000
|
|
|
|
1,321,844
|
|
|
Daicel Corp
|
|
Materials
|
|
|
395,000
|
|
|
|
2,367,134
|
|
|
Daiwa House Industry Co Ltd
|
|
Real Estate
|
|
|
54,000
|
|
|
|
816,790
|
|
|
Elpida Memory Inc (a)(c)
|
|
Semiconductors & Semiconductor Equipment
|
|
|
126,200
|
|
|
|
0
|
|
|
Fast Retailing Co Ltd
|
|
Retailing
|
|
|
48
|
|
|
|
10,677
|
|
|
FUJIFILM Holdings Corp
|
|
Technology Hardware & Equipment
|
|
|
131,023
|
|
|
|
2,206,393
|
|
|
Fukuoka Financial Group Inc
|
|
Banks
|
|
|
85,000
|
|
|
|
331,790
|
|
|
Honda Motor Co Ltd
|
|
Automobiles & Components
|
|
|
260
|
|
|
|
7,775
|
|
|
Konica Minolta Holdings Inc
|
|
Technology Hardware & Equipment
|
|
|
151,000
|
|
|
|
1,001,251
|
|
|
Mitsui Fudosan Co Ltd
|
|
Real Estate
|
|
|
17,000
|
|
|
|
343,063
|
|
|
Nippon Meat Packers Inc
|
|
Food & Beverage
|
|
|
89,000
|
|
|
|
1,102,340
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nissan Motor Co Ltd
|
|
Automobiles & Components
|
|
|
44,000
|
|
|
|
367,722
|
|
|
Nisshin Seifun Group Inc
|
|
Food & Beverage
|
|
|
27,500
|
|
|
|
343,019
|
|
|
Nitto Denko Corp
|
|
Materials
|
|
|
11,000
|
|
|
|
498,186
|
|
|
Nomura Holdings Inc
|
|
Diversified Financials
|
|
|
113,900
|
|
|
|
410,399
|
|
|
Nomura Research Institute Ltd
|
|
Software & Services
|
|
|
12,100
|
|
|
|
256,593
|
|
|
NTN Corp
|
|
Capital Goods
|
|
|
5,300
|
|
|
|
9,482
|
|
|
ORIX Corp
|
|
Diversified Financials
|
|
|
7,593
|
|
|
|
778,964
|
|
|
Otsuka Holdings Co Ltd
|
|
Pharma, Biotech & Life Sciences
|
|
|
76,400
|
|
|
|
2,350,402
|
|
|
Seiko Epson Corp
|
|
Technology Hardware & Equipment
|
|
|
178,100
|
|
|
|
987,092
|
|
|
Seino Holdings Co Ltd
|
|
Transportation
|
|
|
103,693
|
|
|
|
596,757
|
|
|
Shionogi & Co Ltd
|
|
Pharma, Biotech & Life Sciences
|
|
|
36,800
|
|
|
|
609,573
|
|
|
Toppan Printing Co Ltd
|
|
Commercial & Professional Services
|
|
|
361,451
|
|
|
|
2,084,685
|
|
|
Toray Industries Inc
|
|
Materials
|
|
|
1,394
|
|
|
|
8,127
|
|
|
Toyo Seikan Kaisha Ltd
|
|
Materials
|
|
|
55,598
|
|
|
|
589,855
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
24,795,185
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Netherlands—4.8%
|
|
|
|
|
|
|
|
|
|
|
|
Aegon NV
|
|
Insurance
|
|
|
152,385
|
|
|
|
850,660
|
|
|
ASML Holding NV
|
|
Semiconductors & Semiconductor Equipment
|
|
|
22,339
|
|
|
|
1,228,795
|
|
|
Koninklijke Ahold NV
|
|
Food & Staples Retailing
|
|
|
189,783
|
|
|
|
2,415,680
|
|
|
Koninklijke Philips Electronics NV
|
|
Capital Goods
|
|
|
96,763
|
|
|
|
2,418,686
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,913,821
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New Zealand—1.0%
|
|
|
|
|
|
|
|
|
|
|
|
Telecom Corp of New Zealand Ltd
|
|
Telecommunication Services
|
|
|
704,306
|
|
|
|
1,392,519
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,392,519
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Norway—2.6%
|
|
|
|
|
|
|
|
|
|
|
|
Fred Olsen Energy ASA
|
|
Energy
|
|
|
25,355
|
|
|
|
1,187,957
|
|
|
TGS Nopec Geophysical Co ASA
|
|
Energy
|
|
|
74,279
|
|
|
|
2,523,952
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,711,909
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
South Africa—1.4%
|
|
|
|
|
|
|
|
|
|
|
|
FirstRand Ltd
|
|
Diversified Financials
|
|
|
349,437
|
|
|
|
1,156,060
|
|
|
MTN Group Ltd
|
|
Telecommunication Services
|
|
|
40,133
|
|
|
|
721,261
|
|
|
RMB Holdings Ltd
|
|
Diversified Financials
|
|
|
44,814
|
|
|
|
195,963
|
|
|
Sanlam Ltd
|
|
Insurance
|
|
|
2,531
|
|
|
|
11,269
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,084,553
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
South Korea—1.2%
|
|
|
|
|
|
|
|
|
|
|
|
KT Corp
|
|
Telecommunication Services
|
|
|
11,230
|
|
|
|
380,477
|
|
|
SK Innovation Co Ltd
|
|
Energy
|
|
|
7,097
|
|
|
|
1,044,442
|
|
|
SK Telecom Co Ltd
|
|
Telecommunication Services
|
|
|
1,846
|
|
|
|
259,822
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,684,741
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Spain—2.9%
|
|
|
|
|
|
|
|
|
|
|
|
Abertis Infraestructuras SA
|
|
Transportation
|
|
|
22,640
|
|
|
|
340,895
|
|
|
Banco Popular Espanol SA
|
|
Banks
|
|
|
482,476
|
|
|
|
752,106
|
|
|
Banco Santander SA
|
|
Banks
|
|
|
40,065
|
|
|
|
300,543
|
|
|
Banco Santander SA Rights (a)
|
|
Banks
|
|
|
19,676
|
|
|
|
3,876
|
|
|
Ferrovial SA
|
|
Capital Goods
|
|
|
147,885
|
|
|
|
2,088,760
|
|
|
Mapfre SA
|
|
Insurance
|
|
|
168,064
|
|
|
|
465,608
|
|
|
Sacyr Vallehermoso SA (a)
|
|
Capital Goods
|
|
|
157,653
|
|
|
|
312,967
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,264,755
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sweden—2.7%
|
|
|
|
|
|
|
|
|
|
|
|
Atlas Copco AB Cl A
|
|
Capital Goods
|
|
|
440
|
|
|
|
10,815
|
|
|
Hennes & Mauritz AB Cl B
|
|
Retailing
|
|
|
277
|
|
|
|
9,372
|
|
|
Nordea Bank AB
|
|
Banks
|
|
|
122,005
|
|
|
|
1,107,816
|
|
|
Oriflame Cosmetics SA SDR
|
|
Household & Personal Products
|
|
|
4,498
|
|
|
|
124,052
|
|
|
Skandinaviska Enskilda Banken AB Cl A
|
|
Banks
|
|
|
157,377
|
|
|
|
1,304,478
|
|
|
SKF AB Cl B
|
|
Capital Goods
|
|
|
385
|
|
|
|
8,674
|
|
|
Swedbank AB Cl A
|
|
Banks
|
|
|
73,745
|
|
|
|
1,367,007
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,932,214
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Switzerland—5.5%
|
|
|
|
|
|
|
|
|
|
|
|
Aryzta AG
|
|
Food & Beverage
|
|
|
20,488
|
|
|
|
1,023,080
|
|
|
Cie Financiere Richemont SA CL A
|
|
Consumer Durables & Apparel
|
|
|
20,332
|
|
|
|
1,318,785
|
|
|
Novartis AG
|
|
Pharma, Biotech & Life Sciences
|
|
|
28,059
|
|
|
|
1,688,904
|
|
|
OC Oerlikon Corp AG
|
|
Capital Goods
|
|
|
94,525
|
|
|
|
951,138
|
|
|
Swiss Life Holding AG
|
|
Insurance
|
|
|
9,507
|
|
|
|
1,196,543
|
|
|
Swiss Re AG
|
|
Insurance
|
|
|
22,271
|
|
|
|
1,539,024
|
|
|
Swisscom AG
|
|
Telecommunication Services
|
|
|
482
|
|
|
|
200,264
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,917,738
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Taiwan—0.7%
|
|
|
|
|
|
|
|
|
|
|
|
HTC Corp
|
|
Technology Hardware & Equipment
|
|
|
131,000
|
|
|
|
946,205
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
946,205
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Turkey—1.1%
|
|
|
|
|
|
|
|
|
|
|
|
Turkiye Halk Bankasi AS
|
|
Banks
|
|
|
144,900
|
|
|
|
1,275,798
|
|
|
Turkiye Is Bankasi Cl C
|
|
Banks
|
|
|
91,334
|
|
|
|
310,469
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,586,267
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United Kingdom—18.1%
|
|
|
|
|
|
|
|
|
|
|
|
Berendsen PLC
|
|
Commercial & Professional Services
|
|
|
32,530
|
|
|
|
295,054
|
|
|
British Land Co PLC
|
|
Real Estate
|
|
|
16,715
|
|
|
|
142,319
|
|
|
BT Group PLC
|
|
Telecommunication Services
|
|
|
308,982
|
|
|
|
1,057,794
|
|
|
Bunzl PLC
|
|
Capital Goods
|
|
|
128,695
|
|
|
|
2,125,175
|
|
|
Cairn Energy PLC (a)
|
|
Energy
|
|
|
39,706
|
|
|
|
179,303
|
|
|
Hammerson PLC
|
|
Real Estate
|
|
|
170,946
|
|
|
|
1,299,350
|
|
|
InterContinental Hotels Group PLC
|
|
Consumer Services
|
|
|
69,413
|
|
|
|
1,710,966
|
|
|
Johnson Matthey PLC
|
|
Materials
|
|
|
70,977
|
|
|
|
2,571,676
|
|
|
Land Securities Group PLC
|
|
Real Estate
|
|
|
82,257
|
|
|
|
1,065,462
|
|
|
Marks & Spencer Group PLC
|
|
Retailing
|
|
|
1,781
|
|
|
|
11,300
|
|
|
Mondi PLC
|
|
Materials
|
|
|
164,182
|
|
|
|
1,803,927
|
|
|
National Grid PLC
|
|
Utilities
|
|
|
119,937
|
|
|
|
1,365,132
|
|
|
Next PLC
|
|
Retailing
|
|
|
43,822
|
|
|
|
2,517,577
|
|
|
Old Mutual PLC
|
|
Insurance
|
|
|
366,948
|
|
|
|
1,016,815
|
|
|
Persimmon PLC
|
|
Consumer Durables & Apparel
|
|
|
161,296
|
|
|
|
2,065,855
|
|
|
Rexam PLC
|
|
Materials
|
|
|
361,194
|
|
|
|
2,599,355
|
|
|
Standard Chartered PLC
|
|
Banks
|
|
|
20,939
|
|
|
|
493,694
|
|
|
Taylor Wimpey PLC
|
|
Consumer Durables & Apparel
|
|
|
2,556,096
|
|
|
|
2,516,098
|
|
|
Vodafone Group PLC
|
|
Telecommunication Services
|
|
|
535,406
|
|
|
|
1,451,267
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26,288,119
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Common Stock
(Cost $130,311,458)
|
|
|
|
|
|
|
|
|
139,963,879
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred Stock—2.4%
|
|
|
|
|
|
|
|
|
|
|
|
Brazil—0.5%
|
|
|
|
|
|
|
|
|
|
|
|
AES Tiete SA Pref
|
|
Utilities
|
|
|
62,300
|
|
|
|
707,958
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
707,958
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Germany—1.9%
|
|
|
|
|
|
|
|
|
|
|
|
Henkel AG & Co KGaA
|
|
Household & Personal Products
|
|
|
29,340
|
|
|
|
2,342,337
|
|
|
ProSiebenSat.1 Media AG Pref
|
|
Media
|
|
|
15,267
|
|
|
|
425,334
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,767,671
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Preferred Stock (Cost $2,584,026)
|
|
|
|
|
|
|
|
|
3,475,629
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments—98.9% (Cost $132,895,484) (b)
|
|
|
|
|
|
|
|
|
143,439,508
|
|
|
|
|
|
|
|
Other Assets, less liabilities—1.1%
|
|
|
|
|
|
|
|
|
1,575,349
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets—100.0%
|
|
|
|
|
|
|
|
$
|
145,014,857
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a)
|
Non-income producing security.
|
|
(b)
|
The aggregate cost for federal income tax purposes is $134,586,658. The aggregate gross unrealized appreciation is $16,623,073 and the aggregate gross unrealized
depreciation is $7,770,223, resulting in net unrealized appreciation $8,852,850.
|
|
(c)
|
Securities for which there are no such quotations or valuations are valued at fair value as determined in good faith by or at the direction of the Fund's Board of
Trustees.
|
ADR — American Depository Receipt
SDR — Swedish Depository Receipt
SEE NOTES TO PORTFOLIO OF INVESTMENTS
D
OMINI
S
OCIAL
E
QUITY
F
UND
D
OMINI
I
NTERNATIONAL
S
OCIAL
E
QUITY
F
UND
NOTES TO PORTFOLIO OF INVESTMENTS
October 31, 2012 (unaudited)
1.
ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES
The Domini Social Investment Trust is a Massachusetts business trust registered under the
Investment Company Act of 1940 as an open-end management investment company. The Domini Social Investment Trust comprises three separate series: Domini Social Equity Fund, Domini International Social Equity Fund (formerly, Domini European PacAsia
Social Equity Fund), and Domini Social Bond Fund (each the “Fund,” collectively the “Funds”). The Portfolio of Investments of the Domini Social Bond Fund is included elsewhere in this report. The Domini Social Equity Fund offers
Investor shares, Class A shares, Institutional shares and Class R shares. The Domini International Social Equity Fund offers Investor shares and Class A shares. The Investor shares, Institutional shares and Class R shares are sold at their
offering price, which is net asset value. The Class A shares are sold with a front-end sales charge (load) of up to 4.75%. Class R shares are generally available only to certain eligible retirement plans and endowments, foundations, religious
organizations, and other tax-exempt entities that are approved by the Fund’s Distributor. All classes of shares have identical rights and voting privileges with respect to the Fund in general and exclusive voting rights on matters that affect
that class alone. Earnings, net assets, and net asset value per share may differ due to each class having its own expenses, such as transfer and shareholder servicing agent fees and registration fees, directly attributable to that class. Class R
shares are not subject to distribution and service fees.
The preparation of financial statements in conformity with U.S. generally accepted
accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of
revenues and expenses during the reporting period. Actual results could differ from those estimates. The following is a summary of the Funds’ significant accounting policies.
(A) Valuation of Investments.
Securities listed or traded on national securities exchanges are valued at the last sale price reported by the security’s primary exchange or, if there have been
no sales that day, at the mean of the current bid and ask price that represents the current value of the security. Securities listed on the NASDAQ National Market System are valued using the NASDAQ Official Closing Price (the “NOCP”). If
an NOCP is not available for a security listed on the NASDAQ National Market System, the security will be valued at the last sale price or, if there have been no sales that day, at the mean of the current bid and ask price. Securities for which
market quotations are not readily available or as a result of an event occurring after the close of the foreign market but before pricing the Funds are valued at fair value as determined in good faith under procedures established by and under the
supervision of the Funds’ Board of Trustees. Securities that are primarily traded on foreign exchanges generally are valued at the closing price of such securities on their respective exchanges, except that if the Trusts’ manager or
submanager, as applicable, is of the opinion that such price would result in an inappropriate value for a security, including as a result of an occurrence subsequent to the time a value was so established, then the fair value of those securities may
be determined by consideration of other factors (including the use of an independent pricing service) by or under the direction of the Board of Trustees or its delegates. The Funds follow a fair value hierarchy that distinguishes between
(a) market participant assumptions developed based on market data obtained from sources independent of the reporting entity (observable inputs) and (b) the Fund’s own assumptions about market participant assumptions developed based on
the best information available in the circumstances (unobservable inputs). These inputs are used in determining the value of the Funds’ investments and are summarized in the following fair value hierarchy:
Level 1 — quoted prices in active markets for identical securities
Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, and evaluated quotation obtained from pricing services)
Level 3 — significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments.)
The inputs or methodology used for valuing securities are not an indication of the risk associated with
investing in those securities.
The following is a summary of the inputs used by the Domini Social Equity Fund, as of October 31, 2012,
in valuing the Fund’s assets carried at fair value:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Level 1 -
Quoted
Prices
|
|
|
Level 2 - Other
Significant
Observable Inputs
|
|
|
Level 3 - Significant
Unobservable Inputs
|
|
|
Total
|
|
|
Common Stocks
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Discretionary
|
|
$
|
95,581,614
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
95,581,614
|
|
|
Consumer Staples
|
|
|
87,950,744
|
|
|
|
—
|
|
|
|
—
|
|
|
|
87,950,744
|
|
|
Energy
|
|
|
68,365,103
|
|
|
|
—
|
|
|
|
—
|
|
|
|
68,365,103
|
|
|
Financials
|
|
|
111,937,665
|
|
|
|
—
|
|
|
|
—
|
|
|
|
111,937,665
|
|
|
Health Care
|
|
|
92,600,590
|
|
|
|
—
|
|
|
|
—
|
|
|
|
92,600,590
|
|
|
Industrials
|
|
|
60,924,469
|
|
|
|
—
|
|
|
|
—
|
|
|
|
60,924,469
|
|
|
Information Technology
|
|
|
158,275,787
|
|
|
|
—
|
|
|
|
—
|
|
|
|
158,275,787
|
|
|
Materials
|
|
|
17,176,793
|
|
|
|
—
|
|
|
|
—
|
|
|
|
17,176,793
|
|
|
Telecommunication Services
|
|
|
48,013,193
|
|
|
|
—
|
|
|
|
—
|
|
|
|
48,013,193
|
|
|
Utilities
|
|
|
22,492,608
|
|
|
|
—
|
|
|
|
—
|
|
|
|
22,492,608
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$
|
763,318,566
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
763,318,566
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following is a summary of the inputs used by the Domini International Social Equity Fund, as of October 31,
2012, in valuing the Fund’s assets carried at fair value:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Level 1 - Quoted
Prices
|
|
|
Level 2 - Other
Significant
Observable Inputs
|
|
|
Level 3 - Significant
Unobservable Inputs
|
|
|
Total
|
|
|
Common Stocks
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Discretionary
|
|
$
|
15,950,954
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
15,950,954
|
|
|
Consumer Staples
|
|
|
10,894,986
|
|
|
|
—
|
|
|
|
—
|
|
|
|
10,894,986
|
|
|
Energy
|
|
|
8,170,689
|
|
|
|
—
|
|
|
|
—
|
|
|
|
8,170,689
|
|
|
Financials
|
|
|
39,264,442
|
|
|
|
—
|
|
|
|
—
|
|
|
|
39,264,442
|
|
|
Health Care
|
|
|
15,513,673
|
|
|
|
—
|
|
|
|
—
|
|
|
|
15,513,673
|
|
|
Industrials
|
|
|
20,099,339
|
|
|
|
—
|
|
|
|
—
|
|
|
|
20,099,339
|
|
|
Information Technology
|
|
|
8,035,400
|
|
|
|
—
|
|
|
|
—
|
|
|
|
8,035,400
|
|
|
Materials
|
|
|
12,749,826
|
|
|
|
—
|
|
|
|
—
|
|
|
|
12,749,826
|
|
|
Telecommunication Services
|
|
|
6,205,634
|
|
|
|
—
|
|
|
|
—
|
|
|
|
6,205,634
|
|
|
Utilities
|
|
|
3,078,936
|
|
|
|
—
|
|
|
|
—
|
|
|
|
3,078,936
|
|
|
Preferred Stocks
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Discretionary
|
|
|
425,334
|
|
|
|
—
|
|
|
|
—
|
|
|
|
425,334
|
|
|
Consumer Staples
|
|
|
2,342,337
|
|
|
|
—
|
|
|
|
—
|
|
|
|
2,342,337
|
|
|
Utilities
|
|
|
707,958
|
|
|
|
|
|
|
|
|
|
|
|
707,958
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$
|
143,439,508
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
143,439,508
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to
determine fair value:
|
|
|
|
|
|
|
|
|
Domini International
Social Equity Fund
|
|
|
Investments in Securities
|
|
|
|
|
|
Balance as of July 31, 2012
|
|
$
|
3,503
|
|
|
Realized Gain (loss)
|
|
|
—
|
|
|
Change in unrealized appreciation (depreciation)
|
|
|
(2,672
|
)
|
|
Purchases
|
|
|
—
|
|
|
Sales
|
|
|
—
|
|
|
Transfers in and/or out of Level Three
|
|
|
(831
|
)
|
|
|
|
|
|
|
|
Balance as of October 31, 2012
|
|
$
|
—
|
|
|
|
|
|
|
|
|
The change in unrealized appreciation (depreciation) included in earnings relating to securities still held at October 31,
2012:
|
|
$
|
(1,616
|
)
|
|
|
|
|
|
|
Transfers out of Level 3 into Level 1 included securities valued at $831 because market values were readily available
from a pricing agent for which fair value factors were previously applied.
(B) Repurchase Agreements.
The Funds may enter into
repurchase agreements with selected banks or broker-dealers. Each repurchase agreement is recorded at cost, which approximates fair value. The Funds require that collateral, represented by securities (primarily U.S. government agency securities), in
a repurchase transaction be maintained in a segregated account with a custodian bank in a manner sufficient to enable each Fund to obtain those securities in the event of a default of the counterparty. In the event of default or bankruptcy by
another party to the repurchase agreement, retention of the collateral may be subject to legal proceedings.
(C) Foreign Currency
Translation.
Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts on the date of valuation. Purchases and sales of securities, and income and expense items denominated in foreign
currencies, are translated into U.S. dollar amounts on the respective dates of such transactions. Occasionally, events impact the availability or reliability of foreign exchange rates used to convert the U.S. dollar equivalent value. If such an
event occurs, the foreign exchange rate will be valued at fair value using procedures established and approved by the Board of Trustees.
The
Funds do not separately report the effect of fluctuations in foreign exchange rates from changes in market prices on securities held. Such fluctuations are included with the net realized and unrealized gain or loss from investments.
Realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement
dates on securities transactions, and the difference between the recorded amounts of dividends, interest, and foreign withholding taxes and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains
and losses arise from changes in fair value of assets and liabilities other than investments in securities held at the end of the reporting period, resulting from changes in exchange rates.
(D) Foreign Currency Contracts.
When the Funds purchase or sell foreign securities they enter into foreign exchange contracts to minimize foreign exchange risk from the trade date to the settlement
date of the transactions. A foreign exchange contract is an agreement between two parties to exchange different currencies at an agreed-upon exchange rate on a specified date. There were no open contracts at October 31, 2012.
(E) Investment Transactions, Investment Income and Dividends to Shareholders.
The Funds earn income
daily, net of Fund expenses. Dividends to shareholders of the Domini International Social Equity Fund, are usually declared and paid semiannually from net investment income. Dividends to shareholders of the Domini Equity Fund are usually declared
and paid quarterly from net investment income. Distributions to shareholders of realized capital gains, if any, are made annually. Distributions are determined in conformity with income tax regulations, which may differ from generally accepted
accounting principles. Reclassifications have been made to the Funds’ components of net assets to reflect income and gains available for distribution (or available capital loss carryovers, as applicable) under income tax regulations.
Investment transactions are accounted for on trade date. Realized gains and losses from security transactions are determined on the basis of
identified cost. Interest income is recorded on an accrual basis. Dividend income, net of any applicable withholding tax, is recorded on the ex-dividend date or for certain foreign securities, when the information becomes available to the Funds.
(F) Federal Taxes.
Each Fund’s policy is to comply with the provisions of the Internal Revenue Code applicable to regulated
investment companies and to distribute substantially all of its taxable income, including net realized gains, if any, within the prescribed time periods. Accordingly, no provision for federal income or excise tax is deemed necessary.
(G) Redemption Fees.
Redemptions and exchanges of Fund shares held less than 30 days may be subject to the Funds’ redemption fee, which is 2%
of the amount redeemed. Such fees are retained by the Funds and are recorded as an adjustment to paid-in capital.
(H) Other.
Income,
expenses (other than those attributable to a specific class), gains, and losses are allocated on a daily basis to each class of shares based upon the relative proportion of net assets represented by such class. Operating expenses directly
attributable to a specific class are charged against the operations of that class.
(I) Indemnification.
The Funds’ organizational
documents provide current and former trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Funds. In the normal course of business, the Funds may also enter into
contracts that provide general indemnifications. The Funds’ maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Funds. The risk of material loss from such claims is
considered remote.
Domini Social Bond Fund
Portfolio of Investments
October 31, 2012 (unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal
Amount
|
|
|
Value
(Note 1)
|
|
|
U.S. Government Agency Obligations — 38.7%
|
|
|
|
|
|
|
|
|
|
Fannie Mae:
|
|
|
|
|
|
|
|
|
|
3.625%, 2/12/2013
|
|
|
4,000,000
|
|
|
|
4,038,912
|
|
|
Freddie Mac:
|
|
|
|
|
|
|
|
|
|
1.250%, 5/12/2017
|
|
|
23,815,000
|
|
|
|
24,338,025
|
|
|
1.750%, 9/10/2015 (d)
|
|
|
15,566,000
|
|
|
|
16,157,041
|
|
|
2.875%, 2/9/2015 (d)
|
|
|
8,835,000
|
|
|
|
9,340,963
|
|
|
U.S. Small Business Administration:
|
|
|
|
|
|
|
|
|
|
2003-10C 1, 3.530%, 5/1/2013
|
|
|
28,187
|
|
|
|
28,355
|
|
|
|
|
|
|
|
|
|
|
|
|
Total U.S. Government Agency Obligations
(Cost $53,305,257)
|
|
|
|
|
|
|
53,903,296
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Government Agency Mortgage Securities — 32.8%
|
|
|
|
|
|
|
|
|
|
Fannie Mae:
|
|
|
|
|
|
|
|
|
|
FNR 2010 144 YB, 3.000%, 12/25/2025
|
|
|
1,724,000
|
|
|
|
1,864,664
|
|
|
FNR 2011 36 DB, 3.000%, 5/25/2026
|
|
|
1,797,000
|
|
|
|
1,925,768
|
|
|
FNR 2011 44 EB, 3.000%, 5/25/2026
|
|
|
825,000
|
|
|
|
884,405
|
|
|
FNR 2011 89 BT, 3.500%, 9/25/2026
|
|
|
500,000
|
|
|
|
537,734
|
|
|
FNR 2012 17 BC, 3.500%, 3/25/2027
|
|
|
368,000
|
|
|
|
403,285
|
|
|
190370, 6.000%, 6/1/2036
|
|
|
644,968
|
|
|
|
716,685
|
|
|
357829, 6.000%, 6/1/2035
|
|
|
364,137
|
|
|
|
400,010
|
|
|
464501, 5.450%, 2/1/2025
|
|
|
973,408
|
|
|
|
1,125,824
|
|
|
471235, 3.120%, 5/1/2022
|
|
|
1,288,222
|
|
|
|
1,399,489
|
|
|
735500, 5.500%, 5/1/2035
|
|
|
773,241
|
|
|
|
852,939
|
|
|
745327, 6.000%, 3/1/2036
|
|
|
1,601,589
|
|
|
|
1,790,938
|
|
|
827943, 5.000%, 5/1/2035
|
|
|
152,735
|
|
|
|
167,425
|
|
|
874332, 6.030%, 2/1/2022
|
|
|
1,084,937
|
|
|
|
1,275,887
|
|
|
888344, 5.000%, 10/1/2035
|
|
|
1,281,928
|
|
|
|
1,402,073
|
|
|
889529, 6.000%, 3/1/2038
|
|
|
523,440
|
|
|
|
590,641
|
|
|
975106, 5.500%, 6/1/2038
|
|
|
1,393,542
|
|
|
|
1,537,479
|
|
|
995082, 5.500%, 8/1/2037
|
|
|
482,975
|
|
|
|
533,359
|
|
|
AD0439, 6.000%, 7/1/2039
|
|
|
232,577
|
|
|
|
259,601
|
|
|
AE0115, 5.500%, 12/1/2035
|
|
|
2,612,405
|
|
|
|
2,883,888
|
|
|
AK4136, 2.500%, 8/1/2027
|
|
|
212,613
|
|
|
|
222,931
|
|
|
AM0061, 3.100%, 7/1/2024
|
|
|
996,224
|
|
|
|
1,062,097
|
|
|
AM0463, 2.720%, 9/1/2022
|
|
|
499,337
|
|
|
|
526,591
|
|
|
AP1221, 2.500%, 10/1/2027
|
|
|
247,000
|
|
|
|
258,794
|
|
|
AP4725, 3.000%, 8/1/2027
|
|
|
2,262,678
|
|
|
|
2,400,768
|
|
|
FNMA CONV, 2.500%, 12/1/2099 (c)
|
|
|
2,292,000
|
|
|
|
2,395,140
|
|
|
|
|
|
|
|
|
|
|
|
|
FNMA TBA, 3.000%, 12/1/2099 (c)
|
|
|
423,000
|
|
|
|
445,935
|
|
|
FNMA TBA, 2.500%, 12/1/2099 (c)
|
|
|
586,000
|
|
|
|
613,469
|
|
|
Freddie Mac:
|
|
|
|
|
|
|
|
|
|
1B8740, 2.427%, VR, 9/1/2041
|
|
|
315,013
|
|
|
|
329,290
|
|
|
A12413, 5.000%, 8/1/2033
|
|
|
140,907
|
|
|
|
153,988
|
|
|
E09006, 2.500%, 8/1/2027
|
|
|
80,769
|
|
|
|
84,537
|
|
|
FHR 3768 CB, 3.500%, 12/15/2025
|
|
|
343,000
|
|
|
|
372,248
|
|
|
FHR 3800 CB, 3.500%, 2/15/2026
|
|
|
383,000
|
|
|
|
419,021
|
|
|
FHR 3806 L, 3.500%, 2/15/2026
|
|
|
847,000
|
|
|
|
926,342
|
|
|
FHR 3829 BE, 3.500%, 3/15/2026
|
|
|
526,000
|
|
|
|
570,863
|
|
|
FHR 3950 YB, 3.000%, 11/15/2026
|
|
|
592,000
|
|
|
|
638,565
|
|
|
G01779, 5.000%, 4/1/2035
|
|
|
164,398
|
|
|
|
178,837
|
|
|
G01837, 5.000%, 7/1/2035
|
|
|
1,149,951
|
|
|
|
1,250,054
|
|
|
G02162, 5.500%, 5/1/2036
|
|
|
539,546
|
|
|
|
588,244
|
|
|
G02252, 5.500%, 7/1/2036
|
|
|
113,707
|
|
|
|
123,970
|
|
|
G02424, 5.500%, 12/1/2036
|
|
|
1,123,254
|
|
|
|
1,224,636
|
|
|
G04997, 5.000%, 1/1/2037
|
|
|
1,140,590
|
|
|
|
1,239,878
|
|
|
G05052, 5.000%, 10/1/2033
|
|
|
83,200
|
|
|
|
90,923
|
|
|
G05098, 6.000%, 12/1/2038
|
|
|
584,384
|
|
|
|
643,322
|
|
|
G06079, 6.000%, 7/1/2039
|
|
|
797,767
|
|
|
|
879,472
|
|
|
J18446, 3.000%, 3/1/2027
|
|
|
1,092,322
|
|
|
|
1,152,500
|
|
|
J19119, 2.500%, 5/1/2027
|
|
|
255,982
|
|
|
|
267,925
|
|
|
J19132, 3.000%, 5/1/2027
|
|
|
1,913,225
|
|
|
|
2,018,628
|
|
|
J20064, 2.500%, 8/1/2027
|
|
|
390,245
|
|
|
|
408,452
|
|
|
J20257, 3.000%, 8/1/2027 (c)
|
|
|
661,078
|
|
|
|
697,291
|
|
|
J20766, 2.500%, 10/1/2027
|
|
|
428,000
|
|
|
|
447,968
|
|
|
Z40004, 6.000%, 8/1/2036
|
|
|
170,958
|
|
|
|
187,986
|
|
|
FHLMC GOLD TBA, 2.500%, 12/1/2099 (c)
|
|
|
324,000
|
|
|
|
338,479
|
|
|
FHLMC GOLD TBA, 3.000%, 12/1/2099 (c)
|
|
|
253,000
|
|
|
|
265,294
|
|
|
Ginnie Mae CMO:
|
|
|
|
|
|
|
|
|
|
2003-78 C, 5.096%, VR, 2/16/2031
|
|
|
901,663
|
|
|
|
948,904
|
|
|
2006-9 B, 5.269%, VR, 3/16/2037
|
|
|
603,444
|
|
|
|
646,362
|
|
|
|
|
|
|
|
|
|
|
|
|
Total U.S. Government Agency Mortgage Securities
(Cost $43,532,378)
|
|
|
|
|
|
|
45,571,798
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Obligations — 19.5%
|
|
|
|
|
|
|
|
|
|
3M Company, 1.375%, 9/29/2016
|
|
|
1,000,000
|
|
|
|
1,025,533
|
|
|
Air Products & Chemicals, 4.150%, 2/1/2013
|
|
|
700,000
|
|
|
|
706,450
|
|
|
American Express Credit, 2.375%, 3/24/2017
|
|
|
1,000,000
|
|
|
|
1,052,684
|
|
|
Analog Devices, 3.000%, 4/15/2016
|
|
|
333,000
|
|
|
|
357,270
|
|
|
AT&T Inc, 3.875%, 8/15/2021
|
|
|
400,000
|
|
|
|
456,256
|
|
|
AutoZone Inc., 3.700%, 4/15/2022
|
|
|
750,000
|
|
|
|
800,566
|
|
|
Becton Dickinson, 3.250%, 11/12/2020
|
|
|
500,000
|
|
|
|
541,811
|
|
|
Cisco Systems Inc., 5.500%, 2/22/2016
|
|
|
388,000
|
|
|
|
449,422
|
|
|
|
|
|
|
|
|
|
|
|
|
Clorox Company, 3.050%, 9/15/2022
|
|
|
750,000
|
|
|
|
777,825
|
|
|
Comcast Corporation, 4.950%, 6/15/2016
|
|
|
600,000
|
|
|
|
682,928
|
|
|
Deere & Company, 2.600%, 6/8/2022
|
|
|
1,000,000
|
|
|
|
1,034,385
|
|
|
Digital Realty Trust LP, 5.875%, 2/1/2020
|
|
|
1,000,000
|
|
|
|
1,165,180
|
|
|
eBay Inc., 2.600%, 7/15/2022
|
|
|
1,000,000
|
|
|
|
1,023,540
|
|
|
ENSCO Plc, 4.700%, 3/15/2021
|
|
|
1,364,000
|
|
|
|
1,573,425
|
|
|
FISERV INC, 4.750%, 6/15/2021
|
|
|
1,000,000
|
|
|
|
1,117,342
|
|
|
IBM Corp, 5.700%, 9/14/2017
|
|
|
700,000
|
|
|
|
854,141
|
|
|
Illinois Tool Works, Inc., 6.250%, 4/1/2019
|
|
|
700,000
|
|
|
|
877,488
|
|
|
Intel Corp, 1.950%, 10/1/2016
|
|
|
1,000,000
|
|
|
|
1,045,705
|
|
|
John Deere Capital Corporation, 1.250%, 12/2/2014
|
|
|
1,000,000
|
|
|
|
1,015,254
|
|
|
Juniper Networks Inc., 3.100%, 3/15/2016
|
|
|
128,000
|
|
|
|
133,444
|
|
|
Kellogg Co., 4.250%, 3/6/2013
|
|
|
700,000
|
|
|
|
708,896
|
|
|
Kroger Co., 7.500%, 1/15/2014
|
|
|
700,000
|
|
|
|
754,664
|
|
|
NASDAQ OMX Group, 5.550%, 1/15/2020
|
|
|
542,000
|
|
|
|
591,878
|
|
|
Northern Trust Company, 5.200%, 11/9/2012
|
|
|
700,000
|
|
|
|
700,384
|
|
|
Oracle Corp., 5.750%, 4/15/2018
|
|
|
134,000
|
|
|
|
165,165
|
|
|
PACCAR Financial Corp, 1.550%, 9/29/2014
|
|
|
1,000,000
|
|
|
|
1,019,065
|
|
|
Praxair Inc., 4.625%, 3/30/2015
|
|
|
647,000
|
|
|
|
707,317
|
|
|
SBA Tower Trust, 144A, 2.933%, 12/15/2017 (e)
|
|
|
320,000
|
|
|
|
330,173
|
|
|
SBC Communications, 5.100%, 9/15/2014
|
|
|
600,000
|
|
|
|
650,593
|
|
|
TD Ameritrade Holding Co, 5.600%, 12/1/2019
|
|
|
700,000
|
|
|
|
821,466
|
|
|
Thermo Fisher Scientific, 2.250%, 8/15/2016
|
|
|
1,000,000
|
|
|
|
1,042,054
|
|
|
United Parcel Service, 3.125%, 1/15/2021
|
|
|
500,000
|
|
|
|
543,850
|
|
|
Verizon Communications, 5.550%, 2/15/2016
|
|
|
700,000
|
|
|
|
806,364
|
|
|
Watson Pharmaceuticals, 3.250%, 10/1/2022
|
|
|
700,000
|
|
|
|
722,835
|
|
|
Xerox Corporation, 6.350%, 5/15/2018
|
|
|
700,000
|
|
|
|
821,349
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Corporate Obligations
(Cost $24,905,591)
|
|
|
|
|
|
|
27,076,702
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Mortgage Securities — 0.5%
|
|
|
|
|
|
|
|
|
|
CRFCM 2004-1A A 144A, 5.500%, VR, 4/25/2035 (f)
|
|
|
678,065
|
|
|
|
685,421
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Corporate Mortgage Securities
(Cost $678,065)
|
|
|
|
|
|
|
685,421
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Certificates of Deposit — 2.3%
|
|
|
|
|
|
|
|
|
|
BANK2, 0.500%, 11/3/2012 (a)
|
|
|
250,000
|
|
|
|
250,000
|
|
|
Central Bank of Kansas City, 0.400%, 5/30/2013 (a)
|
|
|
250,000
|
|
|
|
250,000
|
|
|
City First Bank of D.C., 0.700%, 2/5/2013 (a)
|
|
|
250,000
|
|
|
|
250,000
|
|
|
Community Capital Bank of Virginia, 0.500%, 2/4/2013 (a)
|
|
|
250,000
|
|
|
|
250,000
|
|
|
Community Commerce Bank, 0.300%, 6/1/2013 (a)
|
|
|
250,000
|
|
|
|
250,000
|
|
|
Communitywide Federal Credit Union, 0.850%, 1/29/2013 (a)
|
|
|
250,000
|
|
|
|
250,000
|
|
|
Eastern Bank, 0.150%, 12/20/2012 (a)
|
|
|
250,000
|
|
|
|
250,000
|
|
|
Hope Federal Credit Union, 0.900%, 2/4/2013 (a)
|
|
|
250,000
|
|
|
|
250,000
|
|
|
|
|
|
|
|
|
|
|
|
|
Liberty Bank and Trust Co., 0.810%, 12/4/2012 (a)
|
|
|
200,000
|
|
|
|
200,000
|
|
|
Promerica Bank, 0.500%, 2/8/2013 (a)
|
|
|
250,000
|
|
|
|
250,000
|
|
|
Self-Help Federal Credit Union, 1.050%, 12/27/2012 (a)
|
|
|
250,000
|
|
|
|
250,000
|
|
|
Self-Help Credit Union, 1.050%, 12/12/2012 (a)
|
|
|
250,000
|
|
|
|
250,000
|
|
|
Southern Bancorp, 0.250%, 6/20/2013 (a)
|
|
|
250,000
|
|
|
|
250,000
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Certificates of Deposit
(Cost $3,200,000)
|
|
|
|
|
|
|
3,200,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash Equivalents — 0.5%
|
|
|
|
|
|
|
|
|
|
Communitywide Federal Credit Union, 0.200%, 2/15/2013 (a)
|
|
|
100,000
|
|
|
|
100,000
|
|
|
Money Market Demand Accounts:
|
|
|
|
|
|
|
|
|
|
Latino Community Credit Union, 0.200%, 11/16/2012 (a)
|
|
|
251,227
|
|
|
|
251,227
|
|
|
Opportunities Credit Union, 0.300%, 11/16/2012 (a)
|
|
|
250,273
|
|
|
|
250,273
|
|
|
Self-Help Money Market Demand, 0.680%, 11/16/2012 (a)
|
|
|
101,782
|
|
|
|
101,782
|
|
|
Southern Bancorp Money Market, 0.470%, 11/16/2012 (a)
|
|
|
100,662
|
|
|
|
100,662
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Cash Equivalents
(Cost $803,944)
|
|
|
|
|
|
|
803,944
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments — 94.3%
(Cost $126,425,235) (b)
|
|
|
|
|
|
|
131,241,161
|
|
|
|
|
|
|
Other Assets, less liabilities — 5.7%
|
|
|
|
|
|
|
7,866,317
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets — 100.0%
|
|
|
|
|
|
$
|
139,107,478
|
|
|
|
|
|
|
|
|
|
|
|
|
(a)
|
Securities (other than short-term obligations with remaining maturities of less than 60 days) for which there are no such quotations or valuations are valued at fair
value as determined in good faith by or at the direction of the Fund’s Board of Trustees.
|
|
(b)
|
The aggregate cost for book and federal income purposes is the same. The aggregate gross unrealized appreciation is $4,862,813, and the aggregate gross unrealized
depreciation is $46,887, resulting in net unrealized appreciation of $4,815,926.
|
|
(c)
|
A portion or all of the security was purchased as a when issued or delayed delivery security.
|
|
(d)
|
A portion or all of the security was segregated for collateral for when issued or delayed delivery securities.
|
|
(e)
|
This security has been determined to be liquid under guidelines established by the Fund’s Board of Trustees.
|
|
(f)
|
This security has been determined to be illiquid under guidelines established by the Fund’s Board of Trustees.
|
CMO — Collateralized Mortgage Obligation
VR — Variable interest rate. Rate shown is that on October 31, 2012.
144A — Security that may be sold to qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended. This security has been determined to be liquid under guidelines
established by the Fund’s Board of Trustees.
SEE NOTES TO PORTFOLIO OF INVESTMENTS
D
OMINI
S
OCIAL
B
OND
F
UND
NOTES TO PORTFOLIO OF INVESTMENTS
October 31, 2012 (unaudited)
1.
ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES
The Domini Social Bond Fund (the “Fund”) is a series of the Domini Social
Investment Trust. The Trust is a Massachusetts business trust registered under the Investment Company Act of 1940 as an open-end management investment company. The Fund offers Investor Shares and Institutional Shares. Institutional shares were not
offered prior to November 30, 2011. Each class of shares is sold at its offering price, which is net asset value. The Institutional shares may only be purchased by or for the benefit of investors that meet the minimum investment requirements,
fall within the following categories: endowments, foundations, religious organizations and other nonprofit entities, individuals, retirement plan sponsors, family office clients, certain corporate or similar institutions, or omnibus accounts
maintained by financial intermediaries and that are approved by the Fund’s Distributor.
Both classes of shares have identical rights and
voting privileges with respect to the Fund in general and exclusive voting rights on matters that affect that class alone. Earnings, net assets, and net asset value per share may differ due to each class having its own expenses, such as transfer and
shareholder servicing agent fees and registration fees, directly attributable to that class. Institutional shares are not subject to distribution fees. The Fund seeks to provide its shareholders with a high level of current income and total return
by investing in bonds and other debt instruments that are consistent with the Fund’s social and environmental standards and the submanager’s security selection approach.
The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets
and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The following is a
summary of the Fund’s significant accounting policies.
(A) Valuation of Investments.
Bonds and other fixed-income securities
(other than obligations with maturities of 60 days or less) are valued on the basis of valuations furnished by an independent pricing service, use of which has been approved by the Board of Trustees of the Fund. In making such valuations, the
pricing service utilizes both dealer-supplied valuations and electronic data processing techniques that take into account appropriate factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity,
type of issue, trading characteristics, and other market data, without exclusive reliance upon quoted prices or exchange or over-the-counter prices, since such valuations are believed to reflect more accurately the fair value of such securities.
Short-term obligations (maturing in 60 days or less) are valued at amortized cost, which constitutes fair value as determined by the Board of Trustees of the Fund.
Securities (other than short-term obligations with remaining maturities of 60 days or less) for which there are no such quotations or valuations are valued at fair value as determined in good faith by or
at the direction of the Fund’s Board of Trustees.
The Funds follow a fair value hierarchy that distinguishes between (a) market
participant assumptions developed based on market data obtained from sources independent of the reporting entity (observable inputs) and (b) the Fund’s own assumptions about market participant assumptions developed based on the best
information available in the circumstances (unobservable inputs). These inputs are used in determining the value of the Funds’ investments and are summarized in the following fair value hierarchy:
Level 1 — quoted prices in active markets for identical securities
Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, and evaluated quotation obtained from pricing services)
Level 3 — significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments.)
The inputs or methodology used for valuing securities are not an indication of the risk associated with
investing in those securities. The following is a summary of the inputs used, as of October 31, 2012, in valuing the Fund’s assets carried at fair value:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Level 1 - Quoted
Prices
|
|
|
Level 2 - Other
Significant
Observable Inputs
|
|
|
Level 3 - Significant
Unobservable Inputs
|
|
|
Total
|
|
|
U.S. Government Agency Obligations
|
|
$
|
—
|
|
|
$
|
53,903,296
|
|
|
$
|
—
|
|
|
$
|
53,903,296
|
|
|
U.S. Government Agency Mortgage Securities
|
|
|
—
|
|
|
|
45,571,798
|
|
|
|
—
|
|
|
|
45,571,798
|
|
|
Corporate Obligations
|
|
|
—
|
|
|
|
27,076,702
|
|
|
|
—
|
|
|
|
27,076,702
|
|
|
Corporate Mortgage Securities
|
|
|
—
|
|
|
|
685,421
|
|
|
|
—
|
|
|
|
685,421
|
|
|
Certificates of Deposit
|
|
|
—
|
|
|
|
3,200,000
|
|
|
|
—
|
|
|
|
3,200,000
|
|
|
Cash Equivalents
|
|
|
—
|
|
|
|
803,944
|
|
|
|
—
|
|
|
|
803,944
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$
|
—
|
|
|
$
|
131,241,161
|
|
|
$
|
—
|
|
|
$
|
131,241,161
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair
value:
|
|
|
|
|
|
|
Investments in Securities
|
|
|
|
|
|
Balance as of July 31, 2012
|
|
$
|
198,075
|
|
|
Realized gain (loss)
|
|
|
—
|
|
|
Change in unrealized appreciation (depreciation)
|
|
|
5,586
|
|
|
Purchases
|
|
|
1,723,623
|
|
|
Sales
|
|
|
—
|
|
|
Transfers in and/or out of Level Three
|
|
|
(1,927,284
|
)
|
|
|
|
|
|
|
|
Balance as of October 31, 2012
|
|
$
|
—
|
|
|
|
|
|
|
|
|
The change in unrealized appreciation (depreciation) included in earnings relating to securities still held at October 31,
2012
|
|
$
|
—
|
|
|
|
|
|
|
|
Transfers out of Level 3 into Level 2 included securities valued at $1,927,284 because market values were readily
available from a pricing agent for which fair value factors were previously applied.
(B) Repurchase Agreements.
The Fund may enter
into repurchase agreements with selected banks or broker-dealers. Each repurchase agreement is recorded at cost, which approximates fair value. The Fund requires that collateral, represented by securities (primarily U.S. government agency
securities) in a repurchase transaction, be maintained in a segregated account with a custodian bank in a manner sufficient to enable the Fund to obtain those securities in the event of a default of the counterparty. In the event of default or
bankruptcy by another party to the repurchase agreement, retention of the collateral may be subject to legal proceedings.
(C) Investment
Transactions, Investment Income, and Dividends to Shareholders.
The Fund earns income daily, net of Fund expenses. Dividends to shareholders are usually declared daily and paid monthly from net investment income. Distributions to shareholders of
realized capital gains, if any, are made annually. Distributions are determined in conformity with income tax regulations, which may differ from generally accepted accounting principles.
Reclassifications have been made to the Fund’s components of net assets to reflect income and gains available for distribution (or available capital loss carryovers, as applicable) under income tax
regulations.
Investment transactions are accounted for on trade date. Realized gains and losses from security transactions are determined on
the basis of identified cost. Interest income is recorded on an accrual basis.
(D) Federal Taxes.
The Fund’s policy is to comply
with the provisions of the Internal Revenue Code applicable to regulated investment companies and to distribute substantially all of its taxable income, including net realized gains, if any, within the prescribed time periods. Accordingly, no
provision for federal income or excise tax is deemed necessary.
(E) Redemption Fees.
Redemptions and exchanges of Fund shares held
less than 30 days may be subject to the Fund’s redemption fee, which is 2% of the amount redeemed. Such fees are retained by the Fund and are recorded as an adjustment to paid-in capital.
(F) Other.
Income, expenses (other than those attributable to a specific class), gains, and losses are allocated on a daily basis to each class of
shares based upon the relative proportion of net assets represented by such class. Operating expenses directly attributable to a specific class are charged against the operations of that class.
(G) Indemnification.
The Funds’ organizational documents provide current and former trustees and officers with a limited indemnification
against liabilities arising in connection with the performance of their duties to the Funds. In the normal course of business, the Funds may also enter into contracts that provide general indemnifications. The Funds’ maximum exposure under
these arrangements is unknown as this would be dependent on future claims that may be made against the Funds. The risk of material loss from such claims is considered remote.
|
Item 2.
|
Controls and Procedures.
|
(a) Within 90
days prior to the filing of this report on Form N-Q, Amy L. Thornton, the registrant’s President and Principal Executive Officer, and Carole M. Laible, the registrant’s Treasurer and Principal Financial Officer, reviewed the
registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) of the Investment Company Act of 1940) and evaluated their effectiveness. Based on their evaluation, Ms. Thornton and Ms. Laible determined that the
disclosure controls and procedures adequately ensure that information required to be disclosed by the registrant in this report on Form N-Q is recorded, processed, summarized, and reported within the time periods required by the Securities and
Exchange Commission’s rules and forms.
(b) There were no changes in the registrant’s internal control over financial reporting (as
defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control
over financial reporting.
Separate certifications
required by Rule 30a-2(a) under the Investment Company Act of 1940 for each principal executive officer and principal financial officer of the registrant are filed herewith.
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.
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DOMINI SOCIAL INVESTMENT TRUST
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By:
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/s/ Amy Domini Thornton
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Amy Domini Thornton
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President
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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.
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By:
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/s/ Amy Domini Thornton
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Amy Domini Thornton
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President (Principal Executive Officer)
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By:
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/s/ Carole M. Laible
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Carole M. Laible
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Treasurer (Principal Financial Officer)
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